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Comprehensive Annual
Financial Report
Year Ended April 30, 119,812
VILLAGE OF OAK BROOK, ILLINOIS
Comprehensive Annual Financial Report
Year ended April 30, 1982
VILLAGE OF OAK BROOK, ILLINOIS
Comprehensive Annual Financial Report
. Year ended April 30, 1982
TABLE OF CONTENTS
Exhibit Page(s)
Introductory Section:
Title Page . . . . . . . . . . . . . . . . . . . . . . . . .
Table of Contents . . . . . . . . . . . . . . . . . . . . . 1- 4
Organization Chart . . . . . . . . . . . . . . . . . . . . . 6
Officers and Officials . . . . . . . . . . . . . . . . . . . 7
Village Manager and Finance Officer's
Letter of Transmittal . . . . . . . . . . . . . . . . . . 8-15
Certificate of Conformance in Financial Reporting . . . . . 16
Financial Section:
Accountants ' Report . . . . . . . . . . . . . . . . . . . . 18
Combined Financial Statements:
Combined Balance Sheet - All Fund Types and
Account Groups . . . . . . . . . . . . . . . . . . . . . 1 19-22
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances - All Governmental
Fund Types . . . . . . . . . . . . . . . . . . . . . . . 2 23
Combined Statement of Revenues, Expenditures and
Changes in Fund Balances - Budget and
Actual - General Corporate, Special Revenue,
Capital Projects and Debt Service Fund Types . . . . . . 3 24-25
Combined Statement of Revenues, Expenses and
Changes in Retained Earnings/Fund Balances -
All Proprietary Fund Types and Similar Trust
Funds . . . . . . . . . . . . . . . . . . . . . . . . . 4 26
Combined Statement of Changes in Financial
Position - All Proprietary Fund Types and
Similar Trust Funds . . . . . . . . . . . . . . . . . . 5 27
Notes to Financial Statements . . . . . . . . . . . . . . . 28-43
Statement Schedule Page(s)
Combining and Individual Fund Financial
Statements and Schedules: 44
Governmental Funds:
General Corporate Fund: 45
Statement of Revenues, Expenditures and
Changes in Fund Balance - Budget and
Actual . . . . . . . . . . . . . . . . . A-1 46-47
Schedule of Expenditures - Budget and
Actual . . . . . . . . . . . . . . . . . A-2 48-53
(Continued)
1
VILLAGE OF OAK BROOK, ILLINOIS
Comprehensive Annual Financial Report
TABLE OF CONTENTS, CONTINUED
Statement Schedule Page(s)
Combining and Individual Fund Financial
Statements and Schedules, Continued:
Governmental Funds, Continued:
Special Revenue Funds: 54
Combining Balance Sheet . . . . . . . . . B-1 55
Combining Statement of Revenues,
Expenditures and Changes in Fund
Balances . . . . . . . . . . . . . . . . B-2 56
Combining Statement of Revenues,
Expenditures and Changes in Fund
Balances - Budget and Actual . . . . . . B-3 57-58
Capital Projects Funds: 59
Combining Balance Sheet . . . . . . . . . C-1 60
Combining Statement of Revenues,
Expenditures and Changes in
Fund Balances - Budget and Actual . . . C-2 61-62
Proprietary Funds:
Enterprise Funds: 63
Combining Balance Sheet . . . . . . . . . D-1 64-65
Combining Statement of Revenues, Expenses
and Changes in Retained Earnings
(Deficit) . . . . . . . . . . . . . . . D-2 66
Combining Statement of Changes in
Financial Position . . . . . . . . . . . D-3 67
Waterworks System Fund:
Statement of Revenues, Expenses and
Changes in Retained Earnings - Budget
_ and Actual . . . . . . . . . . . . . . D-4 68-69
Schedule of Operating Expenses by
Department - Budget and Actual . . . . D-5 70
Schedule of Property, Plant and Equipment
-' and Accumulated Depreciation and
Amortization . . . . . . . . . . . . . D-6 71-72
Sports Core Fund:
Statement of Revenues, Expenses and
Changes in Deficit - Budget and
Actual . . . . . . . . . . . . . . . . . D-7 73
Schedule of Operating Expenses by
Department - Budget and Actual . . . . . D-8 74
(Continued)
2
VILLAGE OF OAK BROOK, ILLINOIS
Comprehensive Annual Financial Report
TABLE OF CONTENTS, CONTINUED
Statement Schedule Page(s)
Combining and Individual Fund Financial
Statements and Schedules, Continued:
Proprietary Funds, Continued:
Sports Core Fund, Continued:
Schedule of Property, Plant and Equipment
and Accumulated Depreciation . . . . . . D-9 75-76
Fiduciary Funds - Pension Trust Funds: 77
Combining Balance Sheet . . . . . . . . . . E-1 78
Combining Statement of Revenues, Expenses
and Changes in Fund Balances . . . . . . . E-2 79
Combining Statement of Changes in
Financial Position . . . . . . . . . . . . E-3 80
Police Pension Fund:
Statement of Revenues, Expenses and
Changes in Fund Balance - Budget
and Actual . . . . . . . . . . . . . . . E-4 81
Firemen' s Pension Fund:
Statement of Revenues, Expenses and
Changes in Fund Balance - Budget
and Actual . . . . . . . . . . . . . . . E-5 82
General Fixed Assets Account Group: 83
Schedule of General Fixed Assets - By
Sources . . . . . . . . . . . . . . . . . F-1 84
Schedule of General Fixed Assets - By
Function and Activity . . . . . . . . . . F-2 85
Schedule of Changes in General Fixed
Assets - By Function and Activity . . . . F-3 86
(Continued)
3
VILLAGE OF OAK BROOK, ILLINOIS
Comprehensive Annual Financial Report
TABLE OF CONTENTS, CONTINUED
Table Page(s)
Statistical Section (unaudited) : 87
General Governmental Expenditures by Function -
Last Ten Fiscal Years . . . . . . . . . . . . . . . . . . 1 88
General Revenues by Source - Last Ten Fiscal Years . . . . . 2 89
Property Tax Levies and Collections - Last Four
Fiscal Years . . . . . . . . . . . . . . . . . . . . . . . 3 90
Assessed and Estimated Actual Value of Taxable
Property - Last Ten Fiscal Years . . . . . . . . . . . . . 4 91
Property Tax Rates - All Overlapping Governments -
Last Ten Fiscal Years . . . . . . . . . . . . . . . . . . 5 92
Ratio of Net General Bonded Debt to Assessed
Value and Net Bonded Debt per Capita - Last
Six Fiscal Years . . . . . . . . . . . . . . . . . . . . 6 93
Computation of Legal Debt Margin . . . . . . . . . . . . . . 7 94
Computation of Overlapping Debt . . . . . . . . . . . . . . 8 95
Ratio of Annual Debt Service Expenditures for
General Bonded Debt to Total General Expenditures -
Last Five Fiscal Years . . . . . . . . . . . . . . . . . . 9 96
Revenue Bond Coverage - Waterworks System Bonds -
Last Seven Fiscal Years . . . . . . . . . . . . . . . . . 10 97
Demographic Statistics . . . . . . . . . . . . . . . . . . . 11 98
Property Value, Construction and Bank Deposits -
Last Ten Calendar Years . . . . . . . . . . . . . . . . . 12 99
Principal Taxpayers . . . . . . . . . . . . . . . . . . . . 13 100
Insurance in Effect . . . . . . . . . . . . . . . . . . . . 14 101
Miscellaneous Statistical Data . . . . . . . . . . . . . . . 15 102
4
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ELECTED OFFICIALS
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6-TRUSTEES
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JOEY 1982
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II
6
VILLAGE OF OAK BROOK, ILLINOIS
Officers and Officials
Year ended April 30, 1982
President
Wence F. Cerne
Clerk
w
Marianne Lakosil
Trustees
George Congreve
Walter C. Imrie
Robert E. Listecki
Arthur W. Philip
Joseph H. Rush
William R. Watson
Village Manager
Kenneth G. Carmignani
Village Treasurer
Kathleen A. Gregory
w
7
9
C
VILLAGE OF OAK BROOK
1200 OAK BROOK ROA D
OAK BROOK, ILLINOIS
July 27, 1982 654-2220
President and Board of Trustees
Village of Oak Brook
Oak Brook, Illinois
Gentlemen:
The Comprehensive Annual Financial Report of the Village of Oak Brook for
the fiscal year ended April 30, 1982, is submitted herewith. Responsibility for
�. both the accuracy of the presented data and the completeness and fairness of the
presentation, including all disclosures, rests with the Village. We believe the
data, as presented, is accurate in all material aspects; that it is presented in
a manner designed to fairly set forth the financial position and results of
operations of the Village as measured by the financial activity of its various
funds ; and that all disclosures necessary to enable the reader to gain the
maximum understanding of the Village's financial affairs have been included.
In addition to the financial statements required for each fund we have
included a group of self-balancing accounts known as the General Fixed Assets and
General Long Term Debt Account Groups.
The General Fixed Assets Account Group reflects all fixed assets acquired by
�.. funds except the enterprise funds. Schedules of property plant and equipment for
the two enterprise funds - Water and Sports Core - are also included.
The Long Term Debt Account includes the General Obligation Bonds issued in
1977 for the purchase of the Sports Core and the debt for the Village Hall.
The last section of the Annual Report includes statistical data and
schedules which contribute to the value of the report as an official document.
This letter describes the significant aspects of financial operations during
the year. It is our hope that this report will materially assist the Board of
Trustees , village officials and personnel , and our citizens in better
understanding the financial activities and transactions relating to our Village
government.
8
Accounting System and Budgetary Control
The Village' s accounting records for general governmental operations are
accounted for on a modified accrual basis of accounting. The revenues are
recorded when available and measureable. Expenditures are recorded when the
services or goods are received and the liabilities are incurred. Accounting
records for the Village' s enterprise funds and pension funds are maintained on
the accrual basis.
In developing and evaluating the Village' s accounting system, consideration
is given to the adequacy of internal accounting controls. Internal accounting
controls are designed to provide reasonable, but not absolute , assurance
regarding: (1) the safeguarding of assets against loss from unauthorized use or
disposition; (2) the reliability of financial records for preparing financial
statements and maintaining accountability for assets. The concept of reasonable
assurance recognizes that : (1) the cost of a control should not exceed the
benefits likely to be derived , and (2) the evaluation of costs and benefits
requires estimates and judgments by management.
All internal control evaluations occur within the above framework. We
believe that the Village' s internal accounting controls adequately safeguard
assets and provides reasonable assurance of proper recording of financial
transactions.
Budgetary control is maintained at the subfunction level by the encumberance
of estimated purchase amounts prior to the release of purchase orders to vendors.
�,. Open encumbrances are reported as reservations of fund balance at April 30, 1982.
The Reporting Entity and Its Services
This report includes all of the funds and account groups of the Village.
The Village provides a full range of services contemplated by statute or
character. This includes public safety (police, fire, bureau of inspection, and
ambulance service) , street maintenance, public improvements, planning and zoning,
general administration services, water, and operation of a free public library
and recreation facilities at the Oak Brook Sport Core (including an 18-hole golf
course) .
The Oak Brook Park District, the various school and sanitary districts, and
the counties of DuPage and Cook are not included in the financial statements of
this report as they are independent special districts and are not part of the
Village of Oak Brook.
—
General Governmental Functions
— Operating revenue and other financing sources for general governmental
functions totaled $6,329,321, an increase of $614,804, or 10.8% over last year.
—
9
The amount of revenues from all sources and the increase or decrease over
last year are shown in the following tabulation:
INCREASE
(DECREASE)
SOURCE AMOUNT PERCENT OF TOTAL OVER 1981
Intergovernmental $4,894,684 77.3% $249,894
Licenses and Permits 238,017 3.8 42,543
Charges for Services 309,682 4.9 177,846
Fines and Penalties 155,465 2.5 46,226
Interest on Investments 563,088 8.9 80,837
Other Revenues 28,385 .4 (17,542)
Other Financing Sources 140,000 2.2 35,000
$6,329,321 100 $614,804
Intergovernmental Revenue is the major source of revenue for the Village,
producing 77. 3% of current year revenue. The increase over last year is
primarily due to an increase of sales tax in the amount of $245,269.
The increase in charges for services is primarily due to engineering and
review fees , as a result of the start of the McDonald' s Office Campus
construction.
Revenue from investment income increased by $80,837 over last year,
reflecting the continuation of high interests rates also experienced last year.
•- The Village has never levied taxes for general governmental functions.
However, the assessed valuation of real property of the Village was $293,897,446,
an increase of $36,170,882, or 14% over the prior year.
Expenditures and other financing uses for general governmental purposes
totalled $6,479,098, an increase of 15.4% over last year. Increases in levels of
expenditures for major functions of the Village over prior years are shown in the
following tabulations:
INCREASE
(DECREASE)
FUNCTION AMOUNT PERCENT OF TOTAL OVER 1981
Legislative $ 659,281 10.1% $533,079
General Government 960,601 14.8 180,629
Public Safety 3,208,328 49.5 264,245
Public Works 1,170,176 18.1 180,366
Culture and Recreation 105,712 1.6 (26,164)
Transfer to Capital Projects 75,000 1.2 35,000
Tax Abatement of Sports Core Tax 300,000 4.7 (300,000)
$6,479,098 100%— $867,155
10
In 1980, the Board of Trustees implemented a residential taxpayer benefit by
�. absorbing the cost of once-a-week curbside refuse collection. The cost of this
service is currently valued at $5.90 per week per resident. The total cost of
this service was $124, 670 for the past year and is included in the Legislative
portion of expenditures.
Also included in the Legislative portion of expenditures is an extraordinary
charge of $479, 474 representing prior years' erroneous sales tax receipts from
the Illinois Department of Revenue credited to the Village of Oak Brook. (See
auditor's Notes to Financial Statements #8) .
r- The increase in General Government Expenditures is primarily due to the
purchase of a mini-computer system in September, 1981.
Public Safety Expenditures which represent our largest portion of
expenditures increased by 9% over last year, primarily due to salary increases
and the purchase of a second ambulance. .
The increase in Public Works expense is primarily due to higher street
maintenance costs for vehicle repairs and gasoline, higher energy costs for
street lights, and an unanticipated high usage of deicer salt.
The 1982 Transfer to the Capital Projects Fund of $75,000 is earmarked for
the future purchase of fire equipment.
The Village also abated $300,000 of Sports Core tax in this fiscal year.
In compliance with the Interpretation No. 3 issued by the National Council
on Governmental Accounting, the tax abatement for the current year of $600,000
has not been accrued. Likewise, because we accrued for the 1980 levy abatement
in last year' s financials, our 1981 General Corporate Fund balance has been
_. restated. (See auditor' s Notes to Financial Statements #2) .
Our 1981 General Corporate Fund Balance has been restated from $3,914,865 to
$4,214,865. Our 1982 General Corporate Fund Balance is $4,098,925, a decrease of
$115,940 from last year.
'- Debt Administration
The ratio of net bonded debt to assessed valuation and the amount of debt
per capita are useful indicators of the Village' s debt position. This
information for the Village at April 30, 1982 as compared to April 30, 1981 is as
follows:
April 30, 1982 April 30, 1981
Net Bonded Debt $9,150,000 $9,600,000
Ratio of Net Bonded Debt
to Assessed Valuation 3.113% 3.724%
Net Bonded Debt Per Capita $ 1,378 $ 1,446
11
General obligation bonds were issued for the purchase of the Sports Core in
1977 . At that time the Village also initiated a tax levy for purposes of
retiring the principal and interest payments of the bonds. Collections in fiscal
year 1981/82 totalled $518,701, or approximately 99% of the total tax levy. Due
to the favorable fund balance in the general corporate fund, the Village will
abate the 1981 levy to be collected in 1982/83 by $600,000. Reduced tax levy
rates as the result of the abatements are indicated below:
s
1981 - $.094 per $100 of assessed valuation
1980 - $.201 per $100 of assessed valuation
1979 - $.226 per $100 of assessed valuation
1978 - $•34 per $100 of assessed valuation
.� The general obligation bonds are due to be retired in December, 1994.
In addition, the Village has outstanding revenue bonds for the Waterworks
_ System Fund. Schedules of maturities of both bond issues are located in the
financial statement of the report.
The Village' s bonds have the following ratings:
Moody's Investors Service
General Obligation Bonds A a
1973 Water Works Revenue Bonds A
1976 Water Works Revenue Bonds A
Cash Management
It is the policy of the Village of Oak Brook to invest idle cash and
increase investment income by the efficient use of savings accounts, certificates
of deposit, repurchase agreements, and the Illinois Public Treasurer' s Investment
Pool. At April 30, 1982, the Village's cash resources for all funds exclusive of
Trust funds were distributed as follows:
Savings Accounts .6%
Treasurer's Investment Pool 5.5%
Repurchase Agreements 8.3%
Certificates of Deposit 85.6%
In 1981/82 we received $950,167 in interest income. The average yield on
investments maturing during the year was 15 . 6%, versus an average yield in
1980/81 of 14.4%.
Capital Projects Funds
The proceeds of the general obligation bond issue are accounted for in the
12
Sports Core Fund until improvement projects are completed. At the end of the
fiscal year completed projects are transferred to general fixed assets. During
fiscal year 1981/82 projects financed by general obligation bonds and related
interest on investment were completed at a cost of $307,978.
The fund also accounted for a transfer made from the General Corporate Fund
to the Equipment Replacement Fund in 1981-82 in anticipation of the purchase of
fire equipment within the next two years.
The total Capital Projects Funds balance on hand at April 30, 1982 was
represented by investments totalling $115,674.
Special Service Area No. 1 Fund
In September , 1981 , this Special Service Area was created for the
replacement of gas lights with electric lights in the York Woods Subdivision,
pursuant to the request made by the York Woods Homeowners Association.
Funding of this project was shared between the Village at 30% and the
residents within the Special Service Area at 70%. The residential portion of the
funding will be collected via a tax levy for the next six years.
�. General Fixed Assets
The general fixed assets of the Village are those fixed assets used in the
_ performance of general governmental functions and excluded the fixed assets of
the Enterprise Fund. As of April 30, 1982, the general fixed assets of the
Village amounted to $9,415,201. This amount represents the original cost of the
assets and is considerably less than their present value. Depreciation of
�- general fixed assets is not recognized in the Village's accounting system.
Waterworks System Fund
The Village' s water utility showed a modest increase in water sales as
customers attempted to conserve water following a 5% rate increase in the
beginning of the fiscal year. Comparative data for the past two fiscal years are
presented in the following tabulation:
1982 1981
Water Sales $1,145,987 $1,102,711
Water Connection Charges 193,303 168,868
Total Operating Revenue 1,507,831 1,407,702
Total Operating Expenses 652,961 727,240
_ Amount Available for Debt Service 1,237,798 1,049,503
Average Annual Debt Service 490,752 494,738
Coverage (amount available for debt
service divided by average
annual debt service) 2.52 2.12
13
During the year $275,000 of regularly maturing revenue bonds were retired in
the Waterworks System Fund. Since fiscal year 1976/77 our debt coverage as
defined on Page 13 has increased from 2.07 to 2.52.
Sports Core Fund
The 1982 financial statements reflect the first full year of operation of
the 18-hole golf course. Operating Revenues and interest income totalled
$1,099,316. Operating expenditures excluding depreciation totalled $994,616.
Major department activity is summarized as follows:
Revenues and Interest Income Amount % of Total
Description
Golf Course $ 562,185 51.1%
Bath and Tennis Club 428,525 39.0
Open Fields 61,515 5.6
Administration 19,549 1.8
'— Interest Income 27,542 2.5
$1,099,316 100
Operating Expenses
Description Amount % of Total
Golf Course $ 423,397 42.6%
Bath and Tennis Club 409,547 41.2
Open Fields 86,964 8.7
Administration 74,708 7.5
-- $ 994,616 100
Independent Audit
Statutes require an annual audit to be made of the books of account ,
financial records, and transactions of all administrative departments of the
Village by independent certified public accountants selected by the Board of
Trustees. This requirement has been complied with and the auditor' s opinion has
been included in this report.
Certificate of Conformance
The Municipal Finance Officers Association of the United States and Canada
(MFOA) awarded a Certificate of Conformance in Financial Reporting to the Village
of Oak Brook for its comprehensive annual financial report for the fiscal year
ended April 30, 1981.
_ 14
In order to be awarded a Certificate of Conformance, a governmental unit
must publish an easily readable and efficiently organized comprehensive annual
financial report, whose contents conform to program standards. Such reports must
satisfy both generally accepted accounting principles and applicable legal
requirements.
A Certificate of Conformance is valid for a period of one year only. We
believe our current report conforms to Certificate of Conformance Program
requirements, and we are submitting it to MFOA to determine its eligibility for a
certificate.
Acknowledgements
The preparation of this report on a timely basis could not be accomplished
without the efficient and dedicated services of the entire staff of the Village
of Oak Brook. We wish to express our appreciation to those persons who have made
possible the publication of this report, and to thank the members of the Board of
Trustees for their interest and support in planning and conducting the financial
operations of the Village in a responsible and progressive manner.
Respectfully submitted,
o °
Keeth G. Carmignan'
Village Manager
0. NYt
Kathleen A. Gregory
Finance Officer
15
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, 1981
�- 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.
OFOF
f/�F
U H i nt
a cnnwn c
coeroruT oN
viy Spat. `yam
��YcHic�ssN�
Executive Director
16
Certified Public Accountants
The Drake Oakbrook Plaza
2211 York Road
JPeat,Marwick,Mitchell&Ca Oak Brook,Illinois 60521
ACCOUNTANTS' REPORT
President, Board of Trustees and
Village Manager
Village of Oak Brook, Illinois:
We have examined the combined financial statements of the Village of Oak Brook and
its combining and individual fund financial statements as of and for the year
ended April 30, 1982, as listed in the table of contents. Our examination was
made in accordance with generally accepted auditing standards and, accordingly,
included such tests of the accounting records and such other auditing procedures
as we considered necessary in the circumstances.
In our opinion, the combined financial statements referred to above present fairly
the financial position of the Village of Oak Brook at April 30, 1982, and the
results of its operations and the changes in financial position of its proprietary
fund types and similar Trust Funds for the year then ended, in conformity with
generally accepted accounting principles applied on a basis consistent with that
of the preceding year after giving retroactive effect to the change, with which we
concur, in the method of accounting for revenue recognition on property taxes as
described in note 2 of notes to financial statements. Also, in our opinion, the
combining and individual fund financial statements referred to above present
fairly the financial position of the individual funds of the Village of Oak Brook
at April 30, 1982, their results of operations, and the changes in financial
position of individual proprietary funds and similar trust funds for the year then
ended, in conformity with generally accepted accounting principles applied on a
basis consistent with that of the preceding year after giving retroactive effect
to the change, with which we concur, in the method of accounting for revenue
recognition on property taxes as described in note 2 of notes to financial
statements.
Our examination was made for the purpose of forming an opinion on the combined
financial statements taken as a whole and on the combining and individual fund
financial statements. The accompanying financial information listed as schedules
in the table of contents is presented for purposes of additional analysis and is
not a required part of the financial statements of the Village of Oak Brook. The
information has been subjected to the auditing procedures applied in the
examination of the combined, combining, and individual fund financial statements
'— and, in our opinion, is fairly stated in all material respects in relation to the
financial statements taken as a whole.
June 25, 1982
18
VILLAGE OF OAK BROOK, ILLINOIS
Combined Balance Sheet - All Fund Types and Account Groups
April 30, 1982
Governmental fund types
General Special Debt Capital _
Assets and Other Debits Corporate Revenue Service Projects
Cash $ 667 - - -
Investments 3,528,628 77,289 355,574 115,674
Receivables (net, where applicable, of
allowances for uncollectibles) :
Sales taxes 1,042,664 - - - _
Property taxes (note 2) - 6,072 274,664 -
State income taxes 13,946 - - -
Customers: _
Billed water sales - - - -
Estimated unbilled water sales - - - -
Allotments - 7,686 - -
Accrued interest 127,789 625 12,408 -
Other 3,652 - 6,573 -
Total receivables 1,188,051 14,383 293,645 -
Due from other funds 43,349 - - -
Due from restricted accounts - - - -
Prepaid expenses - - - -
Inventory of supplies, at cost 15,184 - - -
Unamortized bond discount - - - -
Restricted assets per bond ordinance -
cash and investments (net of $194,407
due to unrestricted accounts) - - - -
Fixed assets (net of allowance for
depreciation and amortization for
proprietary funds) - - - -
Amount available in Debt Service Fund - - - -
Amounts to be provided for retirement of
long-term debt - - - -
Total assets $ 4,775,879 91,672 649,219 115,674
See accompanying notes to financial statements.
19
Exhibit 1
VILLAGE OF OAK BROOK, ILLINOIS
,., Combined Balance Sheet - All Fund Types and Account Groups
April 30, 1982
Fiduciary Account Groups
Proprietary fund type General General Total
fund type Trust and Fixed Long-term (memorandum
Enterprise Agency Assets Debt only)
4,307 31 - - 5,005
249,127 4,894,646 - - 9,220,938
- - - - 1,042,664
- - - - 280,736
- - - - 13,946
32,170 - - - 32,170
170,180 - - - 170,180
- - - - 7,686
5,336 120,121 - - 266,279
209417 - - - 30,642
228,103 120,121 - - 1,844,303
-- - 82,849 - - 126,198
1949407 - - - 194,407
61,433 - - - 61,433
- - - - 15,184
62,185 - - - 62,185
1,839,353 - - - 1,839,353
17,569,376 - 9,415,201 - 26,984,577
- - - 163,155 163,155
- - - 9,242,295 9,242,295
20,208,291 5,097,647 9,415,201 9,405,450 49,759,033
(Continued)
20
VILLAGE OF OAK BROOK, ILLINOIS
Combined Balance Sheet - All Fund Types and Account Groups, Continued
Governmental fund types
General Special Debt Capital
Liabilities Corporate Revenue Service Projects
Accounts payable $ 124,233 3,718 - 104,164
Retainage payable 42,639 3,300 - -
Accrued payroll 73,287 - - -
Customer deposits - - - -
Due to other funds 82,849 30,987 - -
Due to other agencies (note 8) 206,706 - - -
Current portion of principal and interest
payable - - 211,400 -
Deferred tax revenue (note 2) - 6,072 274,664 -
Construction performance bonds 147,240 - - -
Revenue bonds - - - -
General obligation recreation bonds - - - -
Note payable - - - -
Total liabilities 676,954 44,077 486,064 104,164
Fund Equity
Contributed capital - - - -
Investment in general fixed assets - - - -
Retained earnings: _
Reserved according to bond ordinance - - - -
Unreserved - - - -
Fund balance (deficit) :
Reserved for encumbrances 43,903 - - -
Reserved for debt service - - 163,155 -
Reserved for employees retirement: _
Statutory minimum - - - -
Amounts in excess of statutory minimum - - - -
Unreserved: _
Designated for subsequent year's
expenditures (note 9) 36,188 - - -
Undesignated 4,018,834 47,595 - 11,510
Total retained earnings/fund
balance 4,098,925 47,595 163,155 11,510
Total fund equity 4,098,925 47,595 163,155 11,510 _
Total liabilities and fund equity $ 41775,879 91,672 649,219 115,674
See accompanying notes to financial statements.
21
Exhibit 1
VILLAGE OF OAK BROOK, ILLINOIS
Combined Balance Sheet - All Fund Types and Account Groups, Continued
Fiduciary Account Groups
Proprietary fund type General General Total
fund type Trust and Fixed Long-term (memorandum
Enterprise Agency Assets Debt only)
137,836 - - - 369,951
- - - - 45,939
10,566 - - - 83,853
131,523 - - - 131,523
12,362 - - 126,198
- - - - 206,706
- - 211,400
- - - 280,736
- - - - 147,240
5,000,000 - - - 5,000,000
- - - 9,150,000 9,150,000
- - - 2552450 255,450
5,292,287 - - 924052450 162008,996
10,9982282 - - - 1029982282
- - 9,4152201 - 9,4152201
12839,353 - - - 1,839,353
2,078,369 - - - 2,078,369
- - - - 43,903
- - - - 1632155
- 3702000 - - 370,000
- 5,475,380 - - 5,4752380
- - - 36,188
- (7472733) - - 3,3302206
329172722 520972647 - - 13,336,554
14,9162004 59097,647 9,415,201 - 33,750,037
20,2082291 52097,647 9,415,201 9,405,450 49,759,033
22
IExhibit 2
IVILLAGE OF OAK BROOK, ILLINOIS
Combined Statement of Revenues, Expenditures and Changes
Iin Fund Balances - All Governmental Fund Types
Year ended April 30, 1982
Total
General Special Debt Capital (memorandum
I Corporate Revenue Service Projects only)
Revenues:
Intergovernmental $ 4,747,886 146,798 - - 4,894,684
Property taxes - - 518,701 - 518,701
I Licenses and permits 238,017 - _ _ 238,017
Service charges 309,682 309,682
Fines and penalties 155,465 - - - 155,465
I Interest on investments 549,906 13,182 56,615 6,790 626,493
Miscellaneous 28,385 70,806 99,191
Total revenues 6,029,341 159,980 646,122 6,790 6,842,233
IExpenditures:
Current:
I Legislative 650,781 _ _ 650,781
General government 960,601 960,601
Public safety 3,208,328 - - - 3,208,328
Public works 1,038,430 131,746 - - 1,170,176
I Culture and recreation 105,64171 _ - 105,712
Administration - 5,723 5,723
Capital outlay - - - 302,255 302,255
I Debt service:
Principal retirement - - -450,000 450,000
Interest and fees - - 434,488 - 434,488
ITotal expenditures 5,9632781 131,817 884,488 307,978 7,288,064
Excess (deficiency) of
revenues over
Iexpenditures 65,560 28,163 (238,366) (301,188) (445,831)
Other financing sources (uses) :
I Operating transfers in 202,000 - 300,000 216,530 718,530
Operating transfers out (383,500) (62,000) (76,530) (522,030)
Total other financing
I sources (uses) (181,500) (62,000) 223,470 2162530 196,500
Deficiency of revenues
and other sources
I over expenditures
and other uses (115,940) (33,837) (14,896) (842658) (249,331)
Fund balance at April 30, 1981
I (note 2) 4214,865 81,432 178,051 96,168 4,570,516
Fund balance at April 30, 1982 $ 41098,925 47,595 163,155 11,510 41321,185
I
See accompanying notes to financial statements.
23
i
VILLAGE OF OAK BROOK, ILLINOIS
Combined Statement of Revenues, Expenditures and Changes in Fund
Balances - Budget and Actual - General Corporate, Special Revenue, I
Capital Projects and Debt Service Fund Types
Year ended April 30, 1982
General Corporate Fund Special Revenue Fund Types
Adjustment Adjustment I
to Actual on Variance to Actual on Variance
budgetary budgetary favorable budgetary budgetary favorable
Actual basis basis Budget (unfavorable) Actual basis basis Budget (unfavorable)
Revenues: `
Intergovernmental $ 4,747,886 73,168 4,821,054 4,942,200 (121,146) 146,798 (2,615) 144,183 126,184 17,999
Property taxes - - - _ _ _ _ _ - _
Licenses and permits 238,017 - 238,017 200,325 37,692
Service charges 309,682 - 309,682 270,885 38,797 -- - - - -
Fines and penalties 155,465 - 155,465 93,000 62,465 - - - - -
Interest on investments549,906 (58,318) 491,588 300,000 191,588 13,182 (625) 12,557 4,000 8,557
Miscellaneous 28,385 (458) 27,927 52,100 (24,173) - - - - -
Total revenues 6,029,341 14,392 62043,733 52858,510 185,223 159,980 (3,240) 156,740 130,184 26,556
Expenditures:
Current:
Legislative 650,781 (196) 650,585 183,554 (467,031) - - - - -
General government 960,601 (1,964) 9582637 1,067,153 1082516 - - - - -
Public safety 3,208,328 (6,894) 3,201,434 3,586,146 384,712 -
Public works 1,038,430 (1,465) 1,036,965 1,515,425 478,460 1312746 (458) 131,288 169,129 37,841
Culture and recreatiop 105,641 (78) 105,563 122,275 16,712 71 - 71 55,055 54,984 I
Administration - - - - - - - - -
Capital outlay
Debt service:
Principal retirement i - - - - - - - _ - -
Interest and fees - - - - - - - - -
Total expenditures 5,963,781 (10,597) 5,953,184 6,474,553 521,369 131,817 (458) 131,359_ 224,184 922825
Excess (deficien6y) of rev-
enues over expIenditures 65,560 24,989 90,549 (616,043) 706,592 28,163 (2,782) 25,381 (94,000) 119,381
Other financing sources (ides):
Operating transfers in 202,000 - 202,000 190,000 12,000 - - - - -
operating transfers out (383,500) (383,500) (398 L103) 14,603 (62,000) - (622000) - (62,000)
Total other financing I
sources (uses) (181,500) - (181,500) (208,103) 26,603 (62,000) - (62,000) - (622000)
Excess (deficiency) of reve-
nues and other financing
sources over expenditures
and other uses (115,940) $ 24,989 (90,951) (824,146) 733,195 (33,837) (2,782) (36,619) (94,000) 57,381
Fund balance at April 30, 1981 (note 2) 4,214,865 81,432 I
Fund balance at April 30, ;1982 $ 4,098,925 47,595
1
See accompanying notes to financial statements.
24 I
IExhibit 3
VILLAGE OF OAR BROOK, ILLINOIS
Combined Statement of Revenues, Expenditures and Changes in Fund
I Balances - Budget and Actual - General Corporate, Special Revenue,
Capital Projects and Debt Service Fund Types, Continued
Year ended April 30, 1982
I
Debt Service Fund Capital Projects Fund Types
I Adjustment Adjustment
to Actual on Variance to Actual on Variance
budgetary budgetary favorable budgetary budgetary favorable
Actual basis basis Budget (unfavorable) Actual basis basis Budget (unfavorable)
518,701 - 518,701 489,761 28,940 - - - - -
56,615 4,653 61,268 35,000 26,268 6,790 2,708 9,498 - 9,498
I 70,806 22,011 92,817 105,089 (12,272) - - - - -
646,122 26,664 672,786 629,850 42,936 6,790 2,708 9,498 - 9,498
I
- - - - - 5,723 - 5,723 - (5,723)
- - - - - 302,255 - 302,255 342,100 39,845
I 450,000 - 450,000 495,000 45,000 _ _ _ - -
434,488 11,025 445_L513 490,061 44t548 - -
884,488 11,025 895,513 985,061 89,548 307,978 - 307,978 1342,100 34,122
I
(238,366) 15,639 (222,727) (355,211) 132,484 (301,188) 2,708 (298,480) (342,100) 43,620
I300,000 - 300,000 300,000 - 216,530 - 216,530,5 0 268,500 (51,970)
(76,530) - (76,530) - (76,530) - - - - -
223,470 - 223L470 300 000 (76 530) 216 530 -
216 530 268 1
> > > > , ,500 (5 2970)
I
(14,896) 15,639 743 (55,211) 55,954 (84,658) 22708 (811950) (73,600) (8,350)
1782051 96,168
163,155 112510
I
25
Exhibit 4
VILLAGE OF OAK BROOK, ILLINOIS I
Combined Statement of Revenues, Expenses and Changes in
Retained Earnings/Fund Balances - All Proprietary
Fund Types and Similar Trust Funds
Year ended April 30, 1982
I
Proprietary Fiduciary Total I
fund types fund types (memorandum
Enterprise Pension Trust only)
Operating revenues:
Charges for services $ 2,533,632 - 2,533,632 I
Interest on investments - 492,051 492,051
Contributions:
Employees - 143,398 143,398 I
Village - 462,570 462,570
Miscellaneous 45,973 100 46,073
Total operating revenues 2,579,605 1,098,119 3,677,724
Operating expenses:
Operation of facilities 1,351,125 - 1,351,125 I
General and administrative 79,625 1,245 80,870
Depreciation and amortization 423,411 - 423,411
Benefit payments - 48,554 48,554 I
Refunds - 14,063 14,063
Total operating expenses 1,854,161 632862 1,918,023 I
Operating income 725,444 1,034,257 1,759,701
Nonoperating revenues (expenses) : I
Interest on investments 323,674 - 323,674
Interest on bonds (275,550) - (275,550)
Amortization of bond discount (5,788) - (5,788) I
Fiscal agents' fees (431) - (431)
Construction reimbursements 113,400 - 10,400
I52,305 - 52,305
Income before operating transfers 777,749 1,034,257 1,812,006
Operating transfers out 1962500 - 196,500 I
Net income 581,249 1,034,257 1,615,506 I
Retained earnings/fund balance at
April 30, 1981 32336,473 4,0632390 7,399,863
Retained earnings/fund balances at I
April 30, 1982 $ 3L917,722 5,097,647 9,015,369
I
See accompanying notes to financial statements.
26
Exhibit 5
VILLAGE OF OAK BROOK, ILLINOIS
Combined Statement of Changes in Financial Position - All
Proprietary Fund Types and Similar Trust Funds
Year ended April 30, 1982
Proprietary Fiduciary Total
fund types fund types (memorandum
Enterprise Pension Trust only)
_ Sources of working capital:
Operations:
Net income $ 581,249 1,034,257 1,615,506
Add back items not requiring working
'w capital:
Depreciation and amortization 423,411 - 423,411
Amortization of bond discount 5,788 - 5,788
Total provided by operations 1,010,448 1,034,257 2,044,705
Contributed capital 302,255 - 302,255
Total sources of working capital 1,312,703 11034,257 29346,960
Uses of working capital:
Acquisition of fixed assets 750,246 - 750,246
Reduction in bonds payable 275,000 - 275,000
Net increase in restricted assets 113,522 - 113,522
Net increase in pension investments - 11006,359 1,006,359
Total uses of working capital 11138,768 1,006,359 2,145,127
Net increase in working capital $ 173,935 27,898 201,833
Elements of net increase (decrease) in
working capital:
Cash 3,435 (44) 3,391
Investments (49,926) - (49,926)
Receivables 10,346 29,626 39,972
Due from other funds - (1,684) (11684)
Due from restricted accounts 1949407 - 194,407
Prepaid expenses 12,361 - 12,361
Accounts payable (38,290) - (38,290)
Contracts payable 22,000 - 22,000
Accrued payroll 2,947 - 2,947
Deposits 16,223 - 16,223
Due to other funds 432 - 432
Net increase in working capital $ 1731935 27,898 201,833
See accompanying notes to financial statements.
27
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements -
April 30, 1982
(1) Summary of Significant Accounting Policies
The Village of Oak Brook was incorporated February 21, 1958. The Village _
operates under a Board of Trustees-Manager form of government and provides
the following services as authorized by its charter: public safety
(police and fire), highways and streets, recreation (golf course and bath
and tennis club) , water, public improvements, planning and zoning and _
general administrative services.
The accounting policies of the Village of Oak Brook conform to generally
accepted accounting principles (GAAP) as applicable to governments. The
following is a summary of the more significant policies:
(a) Basis of Presentation - Fund Accounting
The accounts of the Village are organized on the basis of funds and account
groups, each of which is considered a separate accounting entity. The _
operations of each fund are accounted for with a separate set of self-
balancing accounts that comprise its assets, liabilities, fund equity,
revenues, and expenditures, or expenses, as appropriate. Government
resources are allocated to and accounted for in individual funds based
upon the purposes for which they are to be spent and the means by which
spending activities are controlled. The various funds are grouped, in the
financial statements in this report, into six generic fund types and three
broad fund categories as follows:
Governmental Fund Types
Governmental funds are those through which most governmental
functions of the Village are financed. The Village's -�
expendable financial resources (except those accounted for in
proprietary funds) are accounted for through governmental
funds. The measurement focus is upon determination of changes
in financial position, rather than upon net income
determination. The following are the Village's governmental
fund types:
General Corporate Fund - The General Corporate Fund is
the general operating fund of the Village. It is used
to account for all financial resources except those
required to be accounted for in another fund.
Special Revenue Funds - Special Revenue Funds are used to
account for the proceeds of specific revenue sources
(other than major capital projects) that are legally
restricted to expenditures for specified purposes.
(Continued)
28 _
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
Debt Service Funds Debt Service Funds are used to
account for the accumulation of resources for, and the
payment of, general obligation long-term debt
principal, interest and related costs. The Village's
only Debt Service Fund is for the Sports Core
recreation bonds.
_ Capital Projects Funds - Capital Projects Funds are used
to account for financial resources to be used for the
acquisition or construction of major capital items
(other than those financed by proprietary funds).
Proprietary Fund Type
Proprietary funds are used to account for the Village's ongoing
organizations and activities which are similar to those often
found in the private sector. The measurement focus is upon
determination of net income.
Enterprise Funds - Enterprise Funds are used to account
for operations (a) that are financed and operated in a
manner similar to private business enterprises - where
the intent of the governing body is that the costs
(expenses, including depreciation) of providing goods
or services to the general public on a continuing
basis be financed or recovered primarily through user
charges; or (b) where the governing body has decided
that periodic determination of revenues earned,
expenses incurred, and/or net income is appropriate
for capital maintenance, public policy, management
control, accountability or other purposes.
Fiduciary Fund Type
Fiduciary funds are used to account for assets held by the Village
in a trustee capacity or as an agent for individuals, private
organizations, other governmental units and/or other funds.
Trust Funds - Trust Funds are used to account for assets
held by the Village in a trustee capacity. These
include the Police and Firemen's Pension Trust Funds.
These funds are accounted for in essentially the same
manner as proprietary funds.
(Continued)
29
VILLAGE OF OAK BROOK, ILLINOIS ...
Notes to Financial Statements
Account Groups r
Account groups are used to establish accounting control and
accountability for the Village's general fixed assets and
general long-term debt. The following are the Village's
account groups:
General Fixed Assets Account Group - This group of
accounts is established to account for all fixed
assets of the Village, other than those accounted for _
in the proprietary funds and trust funds.
General Long-term Debt Account Group - This group of
accounts is established to account for all long-term
debt of the Village except that accounted for in the
proprietary funds.
Fixed assets used in governmental fund type operations (general fixed assets)
are accounted for in the General Fixed Assets Account Group, rather than
in governmental funds. Public domain ("infrastructure") general fixed
assets consisting of certain improvements other than buildings, including
roads, bridges, curbs and gutters, streets and sidewalks, drainage systems
and lighting systems are capitalized along with other general fixed
assets. No depreciation has been provided on general fixed assets.
All fixed assets are valued at historical cost or estimated historical cost
if actual historical cost is not available. Donated fixed assets are
valued at their estimated fair value on the date donated.
Long-term liabilities expected to be financed from governmental funds are
accounted for in the General Long-Term Debt Account Group, not in the
governmental funds.
Depreciation of all exhaustible fixed assets used by proprietary funds is
charged as an expense against their operations. Accumulated depreciation
is reported on proprietary fund balance sheets. Depreciation has been
provided over the estimated useful lives using the straight-line method.
The estimated useful lives are as follows:
Buildings 40 years
Waterworks system 10-40 years
Improvements other than buildings 10-20 years
Tennis courts and pools 15-20 years
Equipment 5-10 years
(Continued)
30
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
(b) Basis of Accounting
Basis of accounting refers to when revenues and expenditures or expenses are
recognized in the accounts and reported in the financial statements.
Basis of accounting relates to the timing of the measurements made,
regardless of the measurement focus applied.
All governmental funds are accounted for using the modified accrual basis of
—
accounting. Their revenues are recognized when they become measurable and
available as net current assets. Shared revenues remitted from the state
government, such as the state motor fuel tax allotments, state income
taxes and state sales taxes were accrued applying the susceptible to
'! accrual concept based upon the month they were collected by the state.
In applying the susceptible to accrual concept to intergovernmental revenues,
— the legal and contractual requiremnts of the numerous individual programs
are used as guidance. There are, however, essentially two types of these
revenues. In one, monies must be expended on the specific purpose or
project before any amounts will be paid to the Village; therefore,
revenues are recognized based upon the expenditures recorded. In the
other, monies are virtually unrestricted as to purpose of expenditure and
are usually revocable only for failure to comply with prescribed
compliance requirements. These resources are reflected as revenues at the
time of receipt or earlier if the susceptible to accrual criteria are met.
Licenses and permits, charges for services (other than enterprise funds) and
miscellaneous revenues (except investment earnings) are recorded as
revenues when received in cash because they are generally not measurable
until actually received. Investment earnings are recorded as earned since
they are measurable and available (see note 2 for property tax accrual
policy).
Expenditures are recognized under the modified accrual basis of accounting
when the related fund liability is incurred. Exceptions to this general
rule include: (1) accumulated unpaid vacation, sick pay and other
employee amounts which are not accrued; and (2) principal and interest on
general long-term debt which is recognized when due.
All proprietary funds and Pension Trust Funds are accounted for using the
accrual basis of accounting. Their revenues are recognized when they are
earned, and their expenses are recognized when they are incurred.
Unbilled Waterworks System Fund utility service receivables are recorded
— at year end.
(Continued)
31
VILLAGE OF OAR BROOK, ILLINOIS
Notes to Financial Statements
(c) Budgets and Budgetary Accounting
The Village follows these procedures in establishing the budgetary data
reflected in the financial statements:
(1) Prior to March 1, a proposed operating budget for the fiscal
year commencing the following May 1 is prepared by the
department heads, reviewed by the Village Manager and
Village Treasurer and submitted to the Board of Trustees _
for their review. The operating budget includes proposed
expenditures for all funds of the Village.
(2) Public hearings are conducted to obtain taxpayer comments.
(3) Prior to August 1, the budget, which is ten percent greater
than the proposed operating budget, is legally enacted '-
through passage of an ordinance. All appropriations lapse
at year end.
(4) Any revisions that alter the total expenditures of any fund
must be approved by the Board of Trustees. During the
current fiscal year only one such revision was made which _
authorized the transfer of appropriations from the General
Fund to Special Service Area No. 1 for street light
improvements.
(5) Formal budgetary integration is employed as a management
control device during the year for all governmental fund
types. Expenditures may not legally exceed appropriations —
on a fund basis for each legally adopted annual budget.
(6) All budgets are prepared on the cash basis. Budgetary _
comparisons presented in this report are on this non-GAAP
basis.
(d) Encumbrances —
Encumbrance accounting, under which purchase orders, contracts and other
commitments for the expenditure of monies are recorded in order to reserve
that portion of the applicable appropriation, is employed as an extension
of formal budgetary integration in the General Fund and Capital Projects
Funds. Encumbrances outstanding at year end are reported as reservations
of fund balances since they do not constitute expenditures or liabilities.
(Continued)
32
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
(e) Investments
Investments are stated at cost or amortized cost, which approximates market
for all but the Police and Fire Pension Funds. For these funds, market
value was $2,200,745 and $2,494,117 as compared to their recorded cost of
$2,396,997 and $2,524,649, respectively, at April 30, 1982. These
investments are not carried at the lower of cost or market in that it is
_ the Trustees intention to hold them to maturity.
(f) Inventory
Inventory is valued at lower of cost (first-in, first-out) or market (net
realizable value) . Inventory in the General Fund consists of expendable
supplies held for consumption. The cost is recorded as an expenditure at
the time individual inventory items are utilized.
(g) Unpaid Vacation and Sick Pay
Vacation pay 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.
Employees are not allowed a given number of sick days a year; any sick
leave is at the discretion of the department heads. At April 30, 1982
there were no material accumulations of unpaid vacation pay.
(h) Total Columns on Combined Statements
Total columns on the combined statements - overview are captioned memorandum
only to indicate that they are presented only to facilitate financial
analysis. Data in these columns do not present financial position,
_ results of operations or changes in financial position in conformity with
generally accepted accounting principles. Neither is such data comparable
to a consolidation. Interfund eliminations have not been made in the
aggregation of this data.
(2) Property Taxes
The Village's property tax is levied each calendar year on all taxable real
property located in the Village. The Village levies taxes only for the
_ payment of principal and interest on general obligation long-term debt and
for Special Service Area No. 1.
(Continued)
33
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
Property taxes attach as an enforceable lien on property as of January 1.
Taxes are levied on March 1 (DuPage County) and become due and payable in
two installments. on June 1 and September 1 during the following fiscal
year. Taxes are billed and collected by county officials.
In prior years, Village property tax revenues were recognized (as revenue)
when levied. However, in 1982 the Village adopted the provisions of _
Interpretation No. 3 issued by the National Council on Governmental
Accounting (NCGA) regarding revenue recognition of property taxes. Since
1981 property tax revenues are not due within the current fiscal year, the _
most recent tax levy (1981) has not been recognized as current revenues.
The receivable for the current tax levy has been recognized on the balance
sheets along with a corresponding amount of deferred revenue. Likewise,
the debt service payments and liabilities related to the 1981 levy are not -'
reflected in the General Corporate or Debt Service Fund. These
liabilities are reflected in the general long-term debt group of accounts.
As required by Interpretation No. 3, adoption of this change in revenue
recognition policy was made as of the beginning of the current fiscal
year, and fund balances as of April 30, 1981 have been restated. The _
effect of these restatements were to increase fund balances at April 30,
1981 for the General Fund and Debt Service Fund by $300,000 and $68,263,
respectively.
(3) Fixed Assets
Changes in General Fixed Assets
A summary of changes in general fixed assets follows:
Balance at Balance at
Apr.30,1981 Additions Deductions Apr.30,1982
Land $ 188,741 - - 188,741
Buildings and improvements 4,594,254 41,289 - 4,635,543
Furniture and fixtures 232,115 15,451 - 247,566
Roadway improvement 22189,689 479,460 - 2,669,149
Automotive equipment 571,624 29,711 - 601,335
Other equipment 754,171 161,759 5,540 910,390 _
Library books 138,928 23,549 - 162,477
$ 8,669,522 751,219 5,540 91415,201
(Continued)
34
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
Proprietary Fund Type Property,
Plant and Equipemnt
A summary of proprietary fund type property, plant and equipment by fund at
April 30, 1982 follows:
Enterprise
Waterworks Sports
System Core
Fund Fund Total
Land and improvements $ 2,819 9,729,484 9,732,303
Buildings - 660,476 660,476
Waterworks system structures and
—
equipment 8,105,634 - 8,105,634
Improvements other than buildings - 238,311 238,311
Tennis courts and pools - 344,486 344,486
Equipment 91,088 122,863 213,951
8,199,541 11,095,620 19,295,161
Less allowances for depreciation and
amortization 1,267,325 458,460 1,725,785
$ 61932,216 102637,160 17,569,376
(4) Long-term debt
General long-term Debt Account Group
A summary of transactions for the year ended April 30, 1982 follows:
Village General
Hall Obligation
note Recreation
payable Bonds Total
Balance at April 30, 1981 $ 478,228 9,600,000 10,078,228
Retirements 222,778 - 222,778
Transfers to Debt Service Fund - 450,000 450,000
Balance at April 30, 1982 $ 255,450 9,150,000 9,405,450
(Continued)
35
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
The Village executed a 5-1/2% loan in the amount of $1,412,134 to finance the
construction of the Village Hall. The loan is to be paid in 84
consecutive 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. Payments are made by the General
Corporate Fund. The Village Hall is pledged as collateral for this note.
A special election on June 21, 1977 authorized and approved the issuance of
$10,270,000 General Obligation Recreation Bonds - Sports Core. The bonds
were sold and delivered as of Spetember 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%. The Village levies taxes for retirement of the bonds which is
accounted for by the Debt Service Fund.
Waterwork Revenue Bonds
A summary of transactions for the year ended April 30, 1982 follows:
Waterworks Revenue Bonds
1973 Series 1976 Series Total
Balance at April 30, 1981 $ 2,750,000 2,525,000 5,275,000
Retirements 125,000 150,000 2759000
Balance at April 30, 1982 $ 2,625,000 2,375,000 5,000,000
The Waterworks Revenue Bonds were issued to fund the acquisition and .r
expansion of the Village's water system.
(Continued)
36
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
The 1973 Series is due serially from May 1, 1982 to May 1, 1996, with interest at 4% to 6%. The 1976
Series is due serially from May 1, 1982 to May 1, 1992, with interest at 4.40% to 5.75%. Both
series are payable from water revenues.
Debt Requirements to Maturity
Waterworks Revenue Bonds General Obligation General Obligation
Series 1973 Series 1976 Recreation Bonds Notes payable
Principal Interest Principal Interest Principal Interest Principal Interest
Maturing as
follows,
year ending
April 30:
1983 $ 125,000 128,725 175,000 132,800 500,000 422,800 235,340 7,078
1984 125,000 122,225 200,000 123,875 500,000 401,300 20,110 92
1985 150,000 115,725 200,000 112,875 600,000 379,800 - -
1986 150,000 108,075 200,000 101,875 600,000 354,000 - -
1987 150,000 100,575 225,000 90,875 600,000 328,200 - -
1988 175,000 93,075 225,000 78,500 700,000 302,400 - -
1989 175,000 84,325 250,000 66,125 700,000 270,200 - -
1990 200,000 75,400 275,000 51,750 700,000 238,000 - -
1991 200,000 65,200 300,000 35,938 800,000 205,800 - -
1992 200,000 54,800 325,000 18,687 800,000 167,400 - -
1993 225,000 44,400 - - 850,000 129,000 - -
1994 225,000 32,700 - - 900,000 88,200 - -
1995 250,000 21,000 - - 900,000 44,100 - -
1996 275,000 11,000 - - - - - -
$ 2,625,000 1L 057,225 21375,000 813,300 9,150,000 3,331,200 255,450 71170
(5) Waterworks System Fund
The ordinance authorizing the issuance of Waterworks Revenue Bonds Series 1973 and 1976 require that
separate accounts be maintained in the fund designated as (balances in the accounts at April 30,
1982 are shown in parentheses):
(a) Operation and maintenance account ($277,525)
(b) Bond and interest account ($1)
(c) Bond reserve account ($609,723)
(d) Depreciation, improvement and extension account ($179,549)
(e) Surplus revenue account ($1,050,080)
(Continued)
37
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
On the first business day of each month all monies held in the fund are to be
transferred to the designated accounts as follows:
To the operation and maintanance account, an amount sufficient to '—
pay the reasonable expense of operation and maintenance for the
next succeeding month.
To the bond and interest account, an amount equal to 1/5th of the
interest and 1/10th of the principal becoming due on the next
payment date.
To the bond reserve account, $4,500 each month until all bonds of
this fund have been paid for or provision made for their payment.
To the depreciation, improvement and extension account, $8,250
each month (or a greater amount, as designated by the Board) until
a maximum of $400,000 is on deposit in said account.
To the surplus revenue account, all surplus funds remaining after
providing for all of the deposits herein above listed.
Funds accumulated in the bond reserve account shall be used only for the
payment of interest or principal whenever there exists a deficiency in the
bond and interest account. However, whenever the balance in said account
is equal to the maximum principal and interest requirements of all
outstanding bonds at the discretion of the President and Board of
Trustees, the surplus may be transferred to the depreciation, improvement ._
and extension account or the surplus revenue account.
Funds accumulated in the depreciation, improvement and extension account _
shall be used to pay for any extraordinary maintenance, repairs and
necessary replacements, or if not so needed, for improvement or extension
of the system.
r..
Funds accumulated in the surplus revenue account shall be held and used for
the following purposes:
(a) for making up any deficiency in the accounts above,
(b) for making principal or interest payments on any junior lien _
bonds, or
(c) for any lawful corporate purpose.
Funds accumulated in all but the operation and maintenance account have been
classified as restricted assets on the balance sheet at April 30, 1982.
(Continued)
38
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
(6) Retirement Commitments
Village employees are covered under three separate retirement plans. Full-
time Village police and firemen are covered by separate pension trust
funds established in accordance with state law. Other full-time Village
employees are covered by the Illinois Municipal Retirement Fund (state-
wide program). Part-time employees (under 1,000 hours a year) are covered
by the United States Social Security system.
(a) Police Pension Fund
Funded Obligations
The Police Pension Fund covers substantially all uniformed members of the
Village's police department. The plan is a single employer plan
administered by a separate Village Police Pension Board.
According to the governing act, the Board of Trustees of the Police Pension
Fund is required to establish and maintain a minimum reserve balance of
$10,000 for each policeman and each beneficiary. At April 30, 1982, the
minimum reserve balance (statutory requirement) of $370,000 had been
provided and in addition, the Board had exceeded the minimum by $2,102,593
for total net accumulated assets of $2,472,593.
According to the governing act, the Board of Trustees of the Police Pension
Fund is required to establish and maintain a reserve not to exceed the
total actuarial requirements of the Fund. In municipalities having less
than the actuarial requirements of the Fund, the Board shall designate the
proportionate amount needed annually to ensure the accumulation of such
actuarial reserve over a 40-year period ending in 2020. The total
actuarial requirements at April 30, 1981 (the date of the latest actuarial
valuation) amounted to $3,098,428 as determined by the Illinois State
Department of Insurance. The actuarial reserve deficiency of $625,835 has
been adjusted by the net transactions of the fund for the year ended
April 30, 1982. However, the current normal costs and the resultant
liability for the year ended April 30, 1982 are not reflected as an
increase in the actuarial reserve deficiency because the date of the
Illinois State Department of Insurance determination was as of April 30,
1981.
Contributions
Employer contributions made during the year ended April 30, 1982 were
$190,768 based upon actuarial requirements determined by the Illinois
State Department of Insurance.
(Continued)
39
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
(b) Firemen's Pension Fund
Funded Obligations
The Firemen's Pension Fund covers substantially all uniformed members of the
Village's fire department. The plan is a single employer plan
administered by a separate Village Firemen's Pension Board.
According to the governing act, the Board of Trustees of the Firemen's
Pension Fund is required to designate the proportionate amount needed
annually to amortize the actuarial reserve deficiency, as determined by +-
the Illinois State Department of Insurance over a 40-year period ending in
2020. At April 30, 1981 (the date of the latest computation) , the
actuarial requirements of the Fund amounted to $2,746,952 as determined by _
the Illinois State Department of Insurance. This actuarial reserve
deficiency of $121,898 at April 30, 1982 has been adjusted by the net -
transactions of the fund for the year ended April 30, 1982. However, the
current normal costs and the resultant liability for the year ended
April 30, 1982 are not reflected as an increase in the actuarial reserve
deficiency because the date of the Illinois State Department of Insurance
determination was as of April 30, 1981.
Contributions
Employer contributions made during the year ended April 30, 1982 were
$27.1,802 based upon the actuarial requirements determined by the Illinois
State Department of Insurance.
(c) Illinois Municpal Retirement Fund
As the Village does not have a property tax levy for funding retirement
benefits, no separate fund accountability is maintained for Illinois
Municipal Retirement Fund purposes. Expenditures for this purpose are
included in the Corporate, Waterworks System and Sports Core Funds.
The Illinois Municpal Retirement Fund's (IMRF) actuary estimates that as of
December 31, 1981 (date of the latest computation) the present value of
total IMRF pension obligations to be borne by the Village of Oak Brook,
Illinois was $765,229. The Village had accumulated reserve assets to be
used toward this obligation of $198,754 on the same date. Therefore, the
estimated present value of future contributions to be made by the Village
was $566,475. This pension obligation includes, in addition to future
normal costs of $239,501, the amount of unfunded prior service cost
computed to be $326,974. The amount of unfunded prior service cost was _
computed by using actuarial assumptions approved by the IMRF Board of
Trustees.
(Continued)
40
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
The annual Village contribution rate fixed by the IMRF Board of Trustees
-* provides for full funding of prior service costs, including interest as
determined actuarially over a future period of not more than 40 years, as
well as the normal retirement costs, term cost of death and disability
benefits, and the cost of administration of the Fund. Employer
contributions made during the year ended April 30, 1982 were $50,090.
(7) Interfund Balances
Individual interfund balances at April 30, 1982 are shown as follows:
Amounts payable from
Special Enterprise Funds
General Service Waterworks Sports
Corporate Area System Core
Amounts payable to Fund No.1 Fund Fund Total
General Corporate Fund $ - 30,987 12,313 49 43,349
Fiduciary funds:
Police Pension Fund 36,416 - - - 36,416
�- Fire Pension Fund 46,433 - - = 46,433
Total $ 82,849 302987 12,313 49 126,198
(8) Amounts Due to Other Agencies -
Extraordinary Charges
The amount classified as due to other agencies in the General Corporate Fund
represents sales tax revenues received by the Village in prior years which
must now be repaid to the Illinois Department of Revenue for proper
allocation to other municipalities. These over-allocations from prior
years, totaling $479,474, are being collected by reductions of the
Village's current sales tax receipts. Since these repayments relate to
prior years, current sales tax revenues have been recorded at gross
amounts and all repayments and remaining outstanding liabilities have been
recognized as an expenditure in the General Fund during the current fiscal
year.
(9) Designation of Fund Balance
A portion of the General Corporate Fund balance at April 30, 1982 has been
designated for future expenditures to be made on bikepath improvements
that have been funded by transfers of approved monies from the Federal
Revenue Sharing Fund.
'- (Continued)
41
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
(10) Excesses of Expenses over Appropriations
Expenses exceeded authorized appropriations for the Police Pension Fund for
the year ended April 30, 1982 by $11,020. The excess is due to refunds
for which no appropriations are made.
y
(11) Individual Fund Deficits
(a) Special Revenue Fund - Special
Service Area No. 1
The deficit in this fund of $30,987 exists because the expenditure for street --
light improvements has already been made, while the related tax revenues
will be received over the next six years. This deficit will be fully
eliminated from future tax collections from residents of the Special
Service Area.
(b) Capital Project Fund - Sports Core
The deficit in this fund of $103,490 is expected to be eliminated through
additional transfers from the Sports Core Operating (Enterprise) Fund.
(c) Enterprise Fund - Sports Core
The Sports Core Fund deficit fund balance of $358,734 is due primarily to
depreciation expense. The deficit will be eliminated in the course of
future operations of the Sports Core.
(12) Contingent Liabilities
Effective January 1, 1979, the Village entered into a contractual agreement
with 14 other municipalities to form the Intergovernment Risk Management
Agency (IRMA), which through its risk-sharing provisions, provides the
Village with its insurance coverage for liability, property damage and
workmen's compensation insurance. As a self-insurance administrator, IRMA
enables risk-sharing with other municipalities which in turn share their
risks with the Village. At December 31, 1981, IRMA has assets of
$5,396,880, reserves for losses of $3,490,836 and a fund balance of
$1,651,477. 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, 1982, management 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, 1982.
(Continued)
42
VILLAGE OF OAK BROOK, ILLINOIS
Notes to Financial Statements
The Village participates in one federally assisted grant program, the Federal
.. Revenue Sharing Program. This program is subject to a financial and
compliance audit once every three years. The audit requirement for years
1980, 1981 and 1982 has been satisfied and the Village is in compliance
with all expenditures allowed. The Village also participates in the
Illinois Motor Fuel Tax program. The latest compliance audit was
completed as of December 31, 1981 with all expenditures being allowed by
the grantors.
(13) Leases and Other Commitments
The Village has no material operating lease agreements or commitments.
(14) Litigation
There are several pending lawsuits in which the Village is involved.
!^ Management believes that the potential claims against the Village
resulting from such litigation would not materially affect the financial
statements of the Village.
(15) Enterprise Funds
Segment information for the year ended April 30, 1982 is as follows:
Waterworks Sports
System Core
Type of service Water service Recreation
Operating revenues $ 1,507,831 1,071,774
Depreciation and amortization 216,827 206,584
Operating income (loss) 854,870 (129,426)
Operating transfers in 140,000 56,500
Net income (loss) 739,633 (158,384)
Current capital - contributions - 302,255
Property, plant and equipment:
Additions 338,729 411,517
Deletions - -
Net working capital 442,702 2,388
Total assets 9,332,951 10,875,340
Bonds outstanding 5,000,000 -
Total equity 41276,456 10,6392548
43
f
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEM NTS
AND SCHEDULES
a
44
}
1
GENERAL CORPORATE FUND
' To account for resources traditionally associated with governments
which are not required ,to be accounted for in another fund.
Expenditures of the Village Library, Police and Fire Departments are
accounted for in this fund.
45
A-1
VILLAGE OF OAK BROOK, ILLINOIS
General Corporate Fund
Statement of Revenues, Expenditures and Changes in Fund
Balance - Budget and Actual
Year ended April 30, 1982
.e
Adjustment
.� to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
Revenues:
Intergovernmental:
Municipal sales tax $ 4,546,477 74,961 4,621,438 4,707,000 (85,562)
Illinois state
income tax 130,661 (1,793) 128,868 110,000 18,868
York Township road
and bridge tax 56,358 - 56,358 110,000 (53,642)
Foreign fire
insurance tax 14,390 - 142390 15,200 (810)
42747,886 73,168 4,8212054 4,942,200 (121,146)
Licenses and permits 2382017 - 238,017 200,325 37,692
Service charges 309,682 - 309,682 270,885 38,797
Fines and penalties 155,465 - 155,465 932000 62,465
Interest on
investments 5492906 (582318) 491,588 3002000 191,588
Miscellaneous 28,385 (458) 272927 52,100 (24,173)
Total revenues 62029,341 14,392 620432733 5,8582510 185,223
Expenditures:
Legislative 650,781 (196) 650,585 183,554 (467,031)
General government 9602601 (1,964) 9582637 120672153 108,516
Public safety 3,2082328 (62894) 32201,434 3,5862146 3842712
Public works 12038,430 (1,465) 1,0362965 1,515,425 4782460
Culture and recreation 1052641 (78) 105,563 122,275 162712
Total expendi-
tures 52963,781 (10,597) 5,9532184 62474,553 5212369
.e. Excess (defi-
ciency) of
revenues over
expenditures 65,560 242989 90,549 (616,043) 706,592
(Continued)
46
A-1, Cont.
VILLAGE OF OAK BROOK, ILLINOIS
General Corporate Fund
Statement of Revenues, Expenditures and Changes in Fund
Balance - Budget and Actual, Continued
Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
Other financing sources
,.. (uses) :
Operating transfers
in $ 202,000 - 202,000 190,000 12,000
Operating transfers
out (383,500) - (383,500) (398,103) 14,603
Total other
financing
sources
(uses) (181,500) - (181,500) (208,103) 26,603
Excess (defi-
ciency) of
.. revenues and
other sources
over expendi-
tures and
other uses (115,940) $ 24,989 (90,951) (824,146) 733,195
Fund balance at April 30,
�.. 1981 (note 2) 4,214,865
Fund balance at April 30,
1982 $ 4,098,925
See accompanying notes to financial statements.
47
A-2
VILLAGE OF OAK BROOK, ILLINOIS
General Corporate Fund
Schedule of Expenditures - Budget and Actual
Year ended April 30, 1982
Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
Legislative: ,.
Board of Trustees:
Personal services $ 5,513 (201) 5,312 8,602 3,290
Contractual services 138,027 - 138,027 148,775 10,748
Fixed charges 2,259 (13) 2,246 3,214 968
Commodities 2,886 - 2,886 770 (2,116)
Capital outlay 8,279 - 8,279 8,030 (249)
Extraordinary charge 479,474 - 479,474 - (479,474)
636,438 (214) 636,224 1692391 (466,833)
Plan Commission:
Personal services 3,257 15 3,272 2,970 (302)
Contractual services 200 - 200 550 350 _
Fixed charges 382 (6) 376 346 (30)
Commodities 324 - 324 286 (38)
4,163 9 4,172 4,152 (20)
Board of Fire and
Police:
Contractual
services 21826 - 2,826 4,895 2,069
Fixed charges 138 - 138 110 (28)
Commodities 12 - 12 28 16
2,976 - 2,976 52033 22057
Zoning Board of Appeals:
Personal services 3,257 15 3,272 2,970 (302)
Contractual services 3,287 - 3,287 1,551 (1,736) _
Fixed charges 382 (6) 376 363 (13)
Commodities 278 - 278 94 (184)
7,204 9 7,213 4,978 (2,235) +
Total legis-
lative $ 650,781 (196) 650,585 1832554 (467,031)
(Continued)
48 '-
A-2, Cont.
VILLAGE OF OAK BROOK, ILLINOIS
General Corporate Fund
Schedule of Expenditures - Budget and Actual, Continued
Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
General Government:
Legal:
.. Personal services $ 39,582 (98) 39,484 46,005 6,521
Contractual services 2,361 - 2,361 4,593 2,232
Fixed charges 7,997 (76) 7,921 26,272 18,351
Commodities 1,909 - 1,909 2,805 896
Capital outlay 1,578 - 1,578 22035 457
53,427 (174) 53,253 81,710 28,457
Village Manager's
Office:
Personal services 109,257 (449) 108,808 120,560 11,752
Contractual
services 4,049 - 4,049 4,416 367
Fixed charges 19,456 (217) 19,239 19,517 278
.► Commodities 6,032 - 6,032 3,619 (2,413)
Capital outlay 972 - 972 770 (202)
139,766 (666) 139,100 148,882 92782
Elections:
.- Personal services - - - 110 110
Contractual services - - - 60 60
Fixed charges - - - 11 11
Commodities - - - 22 22
- - - 203 203
Finance and Accounting:
Personal services 97,771 (360) 97,411 115,775 18,364
Contractual services 58,888 - 58,888 56,622 (2,266)
Fixed charges 29,028 (167) 28,861 30,179 1,318
Commodities 5,423 - 5,423 6,385 962
Capital outlay 92,168 - 922168 952228 3,060
$ 283,278 (527) 282,751 304,189 212438
... (Continued)
49
A-2, Cont.
VILLAGE OF OAK BROOK, ILLINOIS
General Corporate Fund
Schedule of Expenditures - Budget and Actual, Continued
Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
General Government,
Continued:
Engineering:
Personal services $ 90,961 (303) 90,658 104,170 13,512
Contractual
services 9,778 - 9,778 15,978 6,200
Fixed charges 16,979 (175) 16,804 19,343 2,539
Commodities 3,034 - 3,034 3,520 486
Capital outlay 29121 - 22121 32685 1,564
122,873 (478) 122,395 146,696 24,301
Village Hall:
Personal services 26,337 (72) 26,265 29,615 3,350
Contractual
services 63,523 - 63,523 58,774 (42749)
Fixed charges 13,955 (47) 13,908 14,582 674
Commodities 13,625 - 132625 14,190 565
Capital outlay 297 - 297 440 143
Payment of install-
ment debt obliga-
tion 243,520 - 243,520 267,872 24,352
3612257 (119) 361,138 3859473 24,335
Total general
government 960,601 (1,964) 958,637 1,067,153 108,516
Public Safety:
Police Service:
Personal services 1,127,271 (3,493) 1,123,778 1,273,595 149,817 _
Contractual services 37,304 - 37,304 58,823 21,519
Fixed charges 330,963 294 331,257 370,005 38,748
Commodities 84,957 - 84,957 75,185 (9,772)
Capital outlay 16,359 - 16,359 299249 12,890
$ 1,596,854 (39199) 11593,655 1,806,857 2132202
(Continued)
50
A-2, Cont.
VILLAGE OF OAK BROOK, ILLINOIS
General Corporate Fund
Schedule of Expenditures - Budget and Actual, Continued
Adjustment
to Actual on Variance
budgetary budgetary favorable
w Actual basis basis Budget (unfavorable)
Public Safety, Continued:
Fire Service:
Personal services $ 884,288 (3,099) 881,189 954,643 73,454
Contractual services 33,151 - 33,151 46,802 13,651
Fixed charges 353,432 (198) 353,234 394,854 41,620
... Commodities 44,813 - 44,813 44,849 36
Capital outlay 52,391 - 522391 52,800 409
1,368,075 (3,297) 1,364,778 1,4931948 1292170
Emergency Medical
Service:
Personal services 30,785 (37) 30,748 43,461 12,713
Contractual
services 2,411 - 2,411 1,672 (739)
s... Fixed charges 10,505 - 10,505 15,535 5,030
Commodities 5,522 - 5,522 5,112 (410)
Capital outlay 23,336 - 23,336 25,207 11871
w . 72,559 (37) 72,522 902987 18,465
Bureau of Inspection:
Personal services 120,392 (189) 120,203 132,862 12,659
Contractual services 20,237 - 20,237 25,189 4,952
Fixed charges 22,687 (172) 22,515 26,529 4,014
.•- Commodities 5,129 - 5,129 7,354 2,225
Capital outlay 2,395 - 2,395 2,420 25
170,840 (361) 170,479 194,354 23,875
Total public
safety 3,208,328 (6,894) 312012434 3,586,146 384,712
Public Works:
Administration:
Personal services 51,673 (160) 51,513 55,999 4,486
Contractual services 30,682 - 30,682 34,465 3,783
Fixed charges 12,144 (99) 12,045 12,908 863
Commodities 2,581 - 2,581 3,080 499
$ 972080 (259) 96,821 106,452 9,631
(Continued)
51
A-2, Cont.
VILLAGE OF OAK BROOK, ILLINOIS
General Corporate Fund
Schedule of Expenditures - Budget and Actual, Continued
Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
Public Works, Continued: --�
Street Maintenance:
Personal services $ 159,626 (416) 159,210 186,134 26,924
Contractual services 25,532 - 25,532 33,058 7,526
Fixed charges 56,863 (254) 56,609 69,937 13,328
Commodities 82,476 - 82,476 66,000 (16,476)
Capital outlay 14,765 - 14,765 17,050 2,285
339,262 (670) 338,592 372,179 33,587 _
Street Light and
Traffic Control:
Contractual
services 41,243 - 41,243 48,895 7,652 i
Fixed charges 14,074 - 14,074 17,679 3,605
Commodities 12,703 - 12,703 15,840 3,137
Capital outlay - - - 19980 19980
68,020 - 689020 84,394 16,374
Capital Improvements:
Contractual services 1,260 - 1,260 8,360 7,100
Capital outlay 442,344 - 442,344 844,171 401,827
443,604 - 443,604 852,531 4082927
Municipal Garage:
Personal services 44,670 (425) 44,245 47,924 3,679
Contractual services 17,714 - 17,714 28,215 10,501
Fixed charges 9,102 (111) 8,991 9,238 247
Commodities 13,397 - 13,397 8,442 (4,955)
Capital outlay 5,581 - 5,581 6,050 469
90,464 (536) 89,928 99,869 9,941
Total public
works 1,038,430 (1,465) 11036,965 1,515,425 478,460
(Continued)
52
A-2, Cont.
VILLAGE OF OAK BROOK, ILLINOIS
General Corporate Fund
Schedule of Expenditures - Budget and Actual, Continued
Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
Culture and Recreation:
Library:
Personal services $ 52,145 (5) 52,140 60,574 8,434
Contractual services 7,286 - 7,286 9,030 1,744
Fixed charges 12,765 (73) 12,692 13,142 450
... Commodities 7,740 - 7,740 8,454 714
Capital outlay 259705 - 252705 31,075 5,370
Total culture
and recrea-
tion 105,641 (78) 105,563 122,275 16,712
Total expendi-
tures $ 5,963,781 (101597) 5,953,184 6,474,553 521,369
53
*100
i
SPECIAL REVENUE FUNDS
Motor Fuel Tax Fund - to account for maintenance of Village-owned streets,
including winter salting, repavement and electricity for street lights.
Financing is provided by the Village's share of state motor fuel tax
allotments. State law requires these allotments to be used to maintain
streets.
Federal'Revenue Sharing Fund - to account for construction of the Village Bikepath
System. Financing is provided by the Village's share of federal revenue
sharing funds.
Special Service Area No. 1 _ to account for street light improvements in a
subdivision of the Village. Financing is provided by a specific tax levy on
residents of the subdivision, as well as. by General Corporate Revenues.
54
B-1
VILLAGE OF OAK BROOK, ILLINOIS
Special Revenue Funds
Combining Balance Sheet
i
April 30, 1982
Special
Motor Federal Service
Fuel Revenue Area
Tax Sharing No. 1 Total
Assets
Investments:
Savings account $ 36 14 - 50
Repurchase agreements 76,320 919 - 77,239
76,356 933 - 77,289
Receivables, net:
Property taxes - - 6,072 6,072
Allotments 7,686 - - 7,686
Accrued interest 625 - - 625
Total assets $ 84,667 933 6,072 91,672
... Liabilities and Fund Balances
Liabilities:
Accounts payable 3,703 15 - 3,718
Retainage payable 3,300 - - 3,300
Due to other funds - - 30,987 30,987
Deferred tax revenue - - 6,072 6,072
Fund balance (deficit) :
Unreserved - undesignated 77,664 918 (30,987) 47,595
.a
Total liabilities and fund balance $ 84,667 933 6,072 91,672
See accompanying notes to financial statements.
55
B-2
VILLAGE OF OAK BROOK, ILLINOIS
�- Special Revenue Funds
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances
Year ended April 30, 1982
Special
Motor Federal Service
Fuel Revenue Area
Tax Sharing No. 1 Total
Revenues:
Intergovernmental revenue $ 85,335 61,463 - 146,798
Interest on investments 12,238 944 - 13,182
Total revenues 979573 622407 - 159,980
s.
Expenditures:
Public works 100,759 - 30,987 131,746
.= Culture and recreation - 71 - 71
Total expenditures 100,759 71 302987 131,817
Excess (deficiency) of revenues
over expenditures (3,186) 62,336 (302987) 28,163
Other financing uses - operating transfers out - 62,000 - 62,000
Excess (deficiency) of revenues over
expenditures and other uses (3,186) 336 (30,987) (33,837)
Fund balance at April 30, 1981 80,850 582 - 81,432
.� Fund balance (deficit) at April 30, 1982 $ 77,664 918 (30,987) 47,595
"e See accompanying notes to financial statements.
56
VILLAGE OF OAK BROOK, ILLINOIS
SSRecial Revenue Funds
Combining Statement of Revenues, Expenditures and Changes in
Fund Balances - Budget and Actual
Year ended April 30, 1982
Motor Fuel Tax Federal Revenue Sharing
Adjustment Adjustment
to Actual on Variance to Actual on
budgetary budgetary favorable budgetary budgetary
Actual basis basis Budget (unfavorable) Actual basis basis Budget _
Revenues:
Intergovernmental:
Allotments from
State of Illinois $ 85,335 (2,615) 82,720 70,000 12,720 - - - -
Entitlements from
Federal government - - - - - 61,463 - 61,463 56,184
Interest on investments 12,238 (625) 11,613 3,000 8,613 944 _ 944 1,000
Total revenues 97,573 (3,240) 94,333 73,000 21,333 62,407 62,407 57,184
Expenditures:
Public works:
Chemicals 41,499 - 41,499 33,000 (8,499)
Street signals and
lighting 26,823 - 26,823 27,500 677 - - - -
Street improvements 32,437 - 32,437 78,100 45,663 - - - -
Other - - - - - - - - -
100,759 - 100,759 138,600 37,841 - - - -
Culture and recreation -
bike path system - - - - - 71 71 55,055 a„
Total expendi-
tures 100,759 - 100,759 138,600 37,841 71 _ 71 55,055
Excess (defi-
ciency) of
revenues over
expenditures (3,186) (3,240) (6,426) (65,600) 59,174 62,336 - 62,336 2,129
Other financing uses -
operating transfers
out - - - - - 62,000 - 62,000 -
Excess (defi-
ciency) of
revenues over
expenditures �.
and other
uses (3,186)$(3,240) (6,426) (65,600) 59,174 336 - 336 2,129
Fund balance at April 30,
1981 80,850 582
Fund balance at April 30,
1982 $ 77,664 918
See accompanying notes to financial statements.
57
B-3
VILLAGE OF OAR BROOK, ILLINOIS
Special Revenue Funds
Combining Statement of Revenues, Expenditures and Changes in
Fund Balances - Budget and Actual
Year ended April 30, 1982
Special Service Area No. 1 Total
Adjustment Adjustment
Variance to Actual on Variance to Actual on Variance
favorable budgetary budgetary favorable budgetary budgetary favorable
(unfavorable) Actual basis basis Budget (unfavorable) Actual basis basis Budget (unfavorable)
- - - - - - 85,335 (2,615) 82,720 70,000 12,720
5,279 - - - - - 61,463 - 61,463 56,184 5,279
�. (56) - - - - - 13,182 (625) 12,557 4,000 8,557
5,223 - _ - - _ 159,980 (3,240) 156,740 130,184 26,556
- - - - - - 41,499 - 41,499 33,000 (8,499)
•^ - 30,529 - 30,529 30,529 - 57,352 - 57,352 58,029 677
- - - - - 32,437 - 32,437 78,100 45,663
458 (458) - - - 458 (458) - - -
- 30,987 (458) 30,529 30,529 - 131,746 (458) 131,288 169,129 37,841
54,984 - _ - - _ 71 - 71 55,055 54,984
54,984 30,987 (458) 30,529 30,529 _ 131,817 (458) 131,359 224,184 92,825
60,207 (30,987) (458) (30,529) (30,529) - 28,163 (2,782) 25,381 (94,000) 119,381
(62,000) - - - 62,000 - 62,000 - (62,000)
�. (1,793) (30,987) (458) (30,529) 30,529 - (33,837) (2,782) (362619) (94,000) 57,381
81,432
(30,987) 47,595
58
CAPITAL PROJECTS FUNDS
i Sports Core Fund to account for the financing and construction of the Sports
Core golf course and improvements to the Bath and Tennis Club. Construction of
the golf course was completed during fiscal 1$$1,. Financing was provided by
general obligation recreation bond proceeds ($10,720,000) and related investment
income.
Equipment Replacement Fund - to account for the financing and purchase of
additional equipment in the future. Financing will be provided by CorporateFund
revenues.
{
VW
{
3
59
C-1
VILLAGE OF OAK BROOK, ILLINOIS
Capital Projects Funds
Combining Balance Sheet
" April 30, 1982
Sports Equipment
Assets Core Replacement Total
Investments - repurchase agreements $ 674 115,000 115,674
Total assets $ 674 115,000 115,674
Liabilities and Fund Balances
r.
Liabilities - accounts payable 104,164 - 104,164
Fund balance - unreserved (103,490) 1151000 112510
Total liabilities and fund balances $ 674 115,000 1152674
See accompanying notes to financial statements.
60
VILLAGE OF OAK BROOK, ILLINOIS --
Capital Projects Funds
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
Year ended April 30, 1982
Sports Core
Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable) Actual
Revenues - interest on
investments $ 6,790 2,708 9,498 - 9,498 -
Expenditures:
Administration 5,723 - 5,723 - (5,723) -
Capital outlay 302,255 - 302,255 342,100 39,845 - _
Total expenditures 307,978 - 307,978 342,100 34,122 -
Excess (deficiency)
of revenues over
expenditures (301,188) 2,708 (298,480) (342,100) 43,620 -
Other financing sources -
operating transfers in 141,530 - 141,530 186,000 (44,470) 75,000
Excess (deficiency)
of revenues and
other sources over
expenditures (159,658) $ 2,708 (156,950) (156,100) (850) 75,000
Fund balance at April 30, 1981 56,168 40,000
Fund balance at April 30, 1982 $(103,490) 115,000
See accompanying notes to financial statements.
61
C-2
VILLAGE OF OAK BROOK, ILLINOIS
Capital Projects Funds
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances - Budget and Actual
Year ended April 30, 1982
Equipment replacement Total
Adjustment Adjustment
to Actual on Variance to Actual on Variance
budgetary budgetary favorable budgetary budgetary favorable
basis basis Budget (unfavorable) Actual basis basis Budget (unfavorable)
6,790 2,708 9,498 - 9,498
5,723 - 5,723 - (5,723)
302,255 - 302,255 342,100 39,845
307,978 - 307,978 342,100 34,122
(301,188) 2,708 (298,480) (342,100) 43,620
75,000 82,500 (7,500) 216,530 - 216,530 268,500 (51,970)
--- - 75,000 82,500 (7,500) (84,658) 2,708 (81,950) (73,600) (8,350)
96,168
11,510
62
ENTERPRISE FMS
t
Waterworks System Fund; - to account for the provision of water services to the
residents of the Village. and some residents of surrounding communities. All
activities necessary to provide such services are accounted for in this fund.
Sports Core Fund - to account for the operations Aerations and maintenance of the Sports
Core, including the golf course and Bath and Tennis Club.
_+yam
63
THIS PAGE INTENTIONALLY LEFT BLANK.
VILLAGE OF OAK BROOK, ILLINOIS
Enterprise Funds
Combining Balance Sheet
April 30, 1982
Waterworks Sports
Assets System Core Total
Current assets:
Cash $ 3 4,304 4,307
Investments:
Savings accounts 42,092 - 42,092
Repurchase agreements 41,023 166,012 207,035
83,115 166,012 249,127
Receivables:
Customers:
Billed water sales 32,170 - 32,170
Estimated unbilled water sales 170,180 - 170,180
Accrued interest 4,000 1,336 5,336
Other 15,322 5,095 20,417
221,672 6,431 228,103
Due from restricted accounts 194,407 - 194,407
Prepaid expenses - 61,433 61,433
Total current assets 499,197 238,180 737,377
Unamortized bond discount 62,185 - 62,185
Restricted assets per bond ordinance:
Cash 1 - 1 _
Investments 2,033,759 - 2,033,759
Due to unrestricted accounts (194,407) - (194,407)
-
1,839,353 - 1,839,353
Property, plant and equipment 8,199,541 11,095,620 19,295,161
Less allowances for depreciation
and amortization (1,267,325) (458,460) (117251785)
Net property, plant and
equipment 6,932,216 102637,160 17,569,376
Total assets $ 9,332,951 101875,340 20,208,291
See accompanying notes to financial statements.
64 -"
D-1
VILLAGE OF OAK BROOK, ILLINOIS
Enterprise Funds
Combining Balance Sheet
April 30, 1982
Waterworks Sports
Liabilities and Fund Equity System Core Total
Current liabilities:
Accounts payable $ 39,787 98,049 137,836
Accrued payroll 3,971 6,595 10,566
._ Customer deposits 424 131,099 131,523
Due to other funds 12,313 49 12,362
Total current liabilities 56,495 235,792 292,287
Long-term liabilities:
Revenue bonds:
Revenue bonds of 1973 2,625,000 - 2,625,000
Revenue bonds of 1976 2,375,000 - 2,375,000
Total long-term liabilities 5,000,000 - 5,000,000
Total liabilities 5,056,495 235,792 5,292,287
Fund equity:
Contributed capital - 10,998,282 10,998,282
Retained earnings (deficit):
Reserved according to bond ordinance 1,839,353 - 1,839,353
Unreserved 2,437,103 (358,734) 2,078,369
Total retained earnings (deficit) 412762456 (358,734) 32917,722
Total fund equity 4,276,456 102639,548 14,916,004
Total liabilities and fund equity $ 92332,951 10,8752340 20,208,291
65
s
D
VILLAGE OF OAK BROOK, ILLINOIS
Enterprise Funds
Combining Statement of Revenues, Expenses and
Changes in Retained Earnings (Deficit)
Year ended April 30, 1982 _
Waterworks Sports
System Core Total
Operating revenues:
Charges for services $ 1,481,407 1,052,225 2,533,632—
Miscellaneous 26,424 19,549 45,973
Total operating revenues 11507,831 1,071,774 2,579,605,
Operating expenses: -
Operation of facilities 431,217 919,908 1,351,125
General and administrative 4,917 74,708 79,625—
Depreciation and amortization 216,827 206,584 423,411
Total operating expenses 652,961 1,201,200 1,854,161--
Operating income (loss) 854,870 (129,426) 725,444
Nonoperating revenues (expenses):
Interest on investments 296,132 27,542 323,674
Interest on bonds (275,550) - (275,550)
Amortization of bond discount (5,788) - (5,788`
Fiscal agents' fees (431) - (431
Construction reimbursements 10,400 - 10,400
24,763 27,542 52,305
Income (loss) before operating _
transfers 879,633 (101,884) 777,749
Operating transfers out 140,000 56,500 196,500_
Net income (loss) 739,633 (158,384) 581,249
Retained earnings (deficit) at April 30, 1981 3,536,823 (200,350) 3,336,473—
Retained
,336,473—Retained earnings (deficit) at April 30, 1982 $ 4,276,456 (358,734) 3,917,722
—
See accompanying notes to financial statements.
—
66
D-3
VILLAGE OF OAK BROOK, ILLINOIS
Enterprise Funds
Combining Statement of Changes in Financial Position
Year ended April 30, 1982
Waterworks Sports
System Core Total
Sources of working capital:
Operations:
Net income (loss) $ 739,633 (158,384) 581,249
Add back items not requiring working capital:
Depreciation and amortization 216,827 206,584 423,411
Amortization of bond discount 51788 - 51788
Total provided (used) by operations 962,248 48,200 1,010,448
Contributed capital - 302,255 302,255
Total sources of working capital 962,248 350,455 1,312,703
Uses of working capital:
Acquisition of fixed assets 338,729 411,517 750,246
Reduction in bonds payable 275,000 - 275,000
Net increase in restricted assets 113,522 - 113,522
Total uses of working capital 727,251 411,517 1,138,768
Net increase in working capital $ 234,997 (61,062) 1737935
Elements of net increase in working capital:
Cash (5) 3,440 3,435
Investments 30,445 (80,371) (49,926)
Receivables 11,685 (1,339) 10,346
Due from restricted accounts 194,407 - 194,407
Prepaid expenses - 12,361 12,361
Accounts payable (18,212) (20,078) (38,290)
Contracts payable 16,000 6,000 22,000
Accrued payroll (463) 3,410 2,947
Deposits 710 15,513 16,223
Due to other funds 430 2 432
Net increase in working capital $ 234,997 (61,062) 173,935
See accompanying notes to financial statements.
67
D-4
VILLAGE OF OAK BROOK, ILLINOIS
Waterworks System Fund
Statement of Revenues, Expenses and Changes in
Retained Earnings - Budget and Actual
Year ended April 30, 1982 �.
Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable) �-
Operating revenues:
Charges for services:
Water sales $ 1,140,717 9,218 1,149,935 1,159,254 (9,319)
Unmetered water 5,270 - 5,270 9,585 (4,315)
Water tap on charges 193,303 (14,008) 179,295 148,259 31,036
Fire service charges 122,329 (13,538) 108,791 102,000 6,791 _
Special service charges 9,388 - 9,388 9,500 (112)
Water meter sales 10,400 - 10,400 14,000 (3,600)
1,481,407 (18,328) 1,463,079 1,442,598 20,481
Miscellaneous 26,424 - 26,424 15,000 112424
Total operating
revenues 1,507,831 (18,328) 1,489,503 1,457,598 31,905
Operating expenses:
Operation of facilities:
Source of supply 36,210 65 36,275 432806 7,531
Power and pumping 256,086 97 256,183 320,896 64,713
Purification 17,682 65 17,747 18,452 705
Transmission and
distribution 121,239 (689) 120,550 145,253 242703
431,217 (462) 430,755 528,407 97,652
General and administrative 4,917 - 4,917 - (4,917)
Depreciation and
amortization 216,827 (216,827) - - -
Total operating
expenses 652,961 (217,289) 435,672 528,407 922735
Operating income $ 854,870 1982961 12053,831 929,191 124,640 _
(Continued)
i
68
D-4
VILLAGE OF OAK BROOK, ILLINOIS
Waterworks System Fund
Statement of Revenues, Expenses and Changes in
Retained Earnings - Budget and Actual, Continued
Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
Nonoperating revenues
(expenses) :
Interest on investments $ 296,132 (1,060) 295,072 180,000 115,072
Interest on bonds (275,550) - (275,550) (303,105) 27,555
Amortization of bond
discount (5,788) 5,788 - - -
Fiscal agents' fees (431) - (431) (440) 9
Construction
reimbursements 10,400 11,700 22,100 13,800 8,300
24,763 16,428 41,191 (109,745) 150,936
Income before
operating
transfers 879,633 215,389 1,095,022 819,446 275,576
Operating transfers out 140,000 - 140,000 154,000 14,000
Net income 7391633 $ 215,389 955,022 665,446 2892576
Retained earnings at
April 30, 1981 39536,823
Retained earnings at
April 30, 1982 $ 4,276,456
See accompanying notes to financial statements.
69
D-5
VILLAGE OF OAK BROOK, ILLINOIS
Waterworks System Fund
Schedule of Operating Expenses by Department - Budget and Actual
Year ended April 30, 1982
Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
Operating expenses:
_ Operation of facilities:
Source of supply:
Personal services $ 5,894 65 5,959 7,735 1,776
Contractual services 11,325 - 11,325 13,750 2,425
Fixed charges 14,849 - 14,849 14,346 (503)
Commodities 4,142 - 4,142 7,975 3,833
36,210 65 36,275 43,806 7,531
._ Power and pumping:
Personal services 7,159 97 7,256 12,849 5,593
Contractual services 240,981 - 240,981 303,050 62,069
Fixed charges 1,342 - 1,342 2,027 685
Commodities 6,604 - 6,604 2,970 (3,634)
256,086 97 256,183 320,896 64,713
Purification:
Personal services 4,772 65 4,837 5,271 434
Contractual services 1,847 - 1,847 1,870 23
-- Fixed charges 936 - 936 971 35
Commodities 109127 - 10,127 10,340 213
17,682 65 17,747 18,452 705
Transmission and
distribution:
Personal services 71,400 (524) 70,876 82,153 11,277
Contractual services 11,479 - 11,479 11,495 16
Fixed charges 22,504 (165) 22,339 37,745 15,406
Commodities 15,856 - 15,856 13,860 (1,996)
121,239 (689) 120,550 145,253 24,703
Total operation
of facilities 431,217 (462) 430,755 528,407 97,652
General and administrative 4,917 - 4,917 - (4,917)
Depreciation 216,827 (216,827) - - -
Total operating
expenses $ 652,961 (217,289) 435,672 5287407 92,735
70
VILLAGE OF OAK BROOK, ILLINOIS
Waterworks System Fund
Schedule of Property, Plant and Equipment and
Accumulated Depreciation and Amortization
Year ended April 30, 1982
Property, plant and equipment
Balance Additions and Balance
Apr.30,1981 transfers Apr.30,1982
Waterworks property, plant and equipment:
Land and land rights $ 2,819 - 2,819 _
Service of supply plant - wells
and springs 314,753 - 314,753
Structure and improvements 68,232 - 68,232
Electrical pumping equipment 118,745 - 118,745
Total water treatment equipment 5,325 - 5,325
Distribution, reservoirs, mains and
standpipes 6,784,087 385,493 7,169,580 ...
Meters and meter installation 269,379 29,628 299,007
Hydrants 126,861 3,131 129,992
Miscellaneous tools and equipment:
Office furniture and equipment 3,449 - 3,449
Transportation equipment 38,163 - 38,163
Tools, shop and garage equipment 2,852 - 2,852 '-
Laboratory equipment 1,070 - 1,070
Miscellaneous equipment 32,193 1,958 34,151
Intangible plant - organization 11,403 - 11,403
Construction in progress 81,481 (81,481) -
$ 71860,812 338,729 8,199,541
71
D-6
'- VILLAGE OF OAK BROOK, ILLINOIS
Waterworks System Fund
Schedule of Property, Plant and Equipment and
Accumulated Depreciation and Amortization
Year ended April 30, 1982
Rate of
depreciation
or Allowances for depreciation and amortization Net asset
amortization Balance Additions and Balance value
(years) Apr.30,1981 transfers Apr.30,1982 Apr.30,1982
- $ - - - 2,819
40 57,609 7,868 65,477 249,276
�- 40 13,431 1,706 15,137 53,095
40 23,875 3,218 27,093 91,652
10 4,260 532 4,792 533
40 759,677 179,239 938,916 6,230,664
15 102,947 7,475 110,422 188,585
40 23,991 3,250 27,241 102,751
10 2,743 345 3,088 361
6 20,013 6,361 26,374 11,789
5 2,852 - 2,852 -
5 1,070 - 1,070 -
5 26,627 6,833 33,460 691
5 11,403 - 11,403 -
$ 11050,498 216,827 1,2671325 6,932,216
e
72
D-7
VILLAGE OF OAK BROOK, ILLINOIS _
Sports Core Fund
Statement of Revenues, Expenses and Changes in -.
Deficit - Budget and Actual
Year ended April 30, 1982
Adjustment _
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
Operating revenues: _
Charges for services:
Golf course $ 490,417 - 490,417 501,234 (10,817)
Bath and tennis 179,636 - 179,636 202,810 (23,174)
Open fields 61,515 - 61,515 44,545 16,970
Food and service charge:
Golf course 71,768 - 71,768 50,500 21,268
Bath and tennis 143,704 - 143,704 166,850 (23,146)
Beverage and service charge -
bath and tennis 105,185 - 105,185 82,185 23,000
1,052,225 - 1,052,225 1,048,124 4,101
Miscellaneous: ...
Sales tax 18,485 - 18,485 19,569 (1,084)
Other 1,064 - 1,064 - 1,064
Total operating revenues 1,071,774 - 1,071,774 1,067,693 4,081
Operating expenses:
Operation of facilities:
Golf course 369,040 (459) 368,581 450,040 81,459
Bath and tennis 343,378 84 343,462 359,432 15,970
Open fields 86,964 - 86,964 70,351 (16,613)
Food:
Golf course 54,357 142 54,499 53,130 (1,369)
Bath and tennis 49,582 (74) 49,508 54,354 4,846
Beverage - bath and tennis 6,338 - 6,338 11,380 5,042
Grill operations 10,249 - 10,249 11,336 1,087 -
919,908 (307) 919,60 1,010,023 90,422
General and administrative 74,708 (209) 74,499 77,890 3,391
Depreciation 206,584 (206,584) - - -
Total operating expenses 1,201,200 (207,100) 994,100 1,087,913 93,813
Operating income (loss) (129,426) 207,100 77,674 (20,220) 97,894 _
Nonoperating revenue - interest on
investments 27,542 4,001 31,543 10,000 21,543
Income (loss) before
operating transfers (101,884) 211,101 109,217 (10,220) 119,437
Operating transfers out '56,500 - 56,500 124,088 67,588
Net income (loss) (158,384) $ 211,101 52,717 (1341308) 187,025
Deficit at April 30, 1981 (200,350)
Deficit at April 30, 1982 $ (358,734)
See accompanying notes to financial statements.
73
D-8
._ VILLAGE OF OAK BROOK, ILLINOIS
Sports Core Fund
Schedule of Operating Expenses by Department -Budget and Actual
Year ended April 30, 1982
Adjustment
to Actual on Variance
budgetary budgetary favorable
_ Actual basis basis Budget (unfavorable)
Operating expenses:
Operation of facilities:
Golf course:
Personal services $ 66,154 (328) 65,826 86,304 20,478
Contractual services 220,095 - 220,095 267,300 47,205
Fixed charges 52,699 (131) 52,568 66,004 13,436
Commodities 30,092 - 30,092 30,432 340
369,040 (459) 368,581 450,040 81,459
Bath and tennis:
Personal services 83,206 126 83,332 92,445 9,113
Contractual services 184,654 - 184,654 205,239 20,585
Fixed charges 28,955 (42) 28,913 27,884 (1,029)
Commodities 46,563 - 46,563 33,864 (12,699)
343,378 84 343,462 359,432 15,970
Open fields:
Contractual services 70,120 - 70,120 55,139 (14,981)
Fixed charges 2,388 - 2,388 2,205 (183)
Commodities 14,456 - 14,456 13,007 (1,449)
86,964 - 86,964 70,351 (16,613)
Food - golf course:
Personal services 17,481 168 17,649 20,177 2,528
Contractual services 147 - 147 880 733
Fixed charges 4,608 (26) 4,582 4,243 (339)
Commodities 32,121 - 32,121 27,830 (4,291)
54,357 142 54,499 53,130 (1,369)
Food - bath and tennis:
Personal services 24,265 (66) 24,199 21,927 (2,272)
Contractual services 4,730 - 4,730 7,370 2,640
Fixed charges 3,259 (8) 3,251 4,377 1,126
_ Commodities 17,328 - 17,328 20,680 3,352
49,582 (74) 49,508 54,354 4,846
Beverage - bath and tennis:
Personal services 3,455 - 3,455 3,542 87
.. Contractual services 317 - 317 1,441 1,124
Fixed charges 1,239 - 1,239 897 (342)
Commodities 1,327 - 1,327 5,500 4,173
6,338 - 6,338 11,380 5,042
Grill operations:
Personal services 3,263 - 3,263 3,300 37
Contractual services 263 - 263 633 370
Fixed charges 470 - 470 913 443
Commodities 6,253 - 6,253 6,490 237
10,249 - 10,249 11,336 1,087
Total operation of
_ facilities 919,908 (307) 919,601 1,010,023 90,422
General and administrative:
Personal services 50,130 (116) 50,014 54,920 4,906
Contractual services 8,245 - 8,245 8,772 527
Fixed charges 14,877 (93) 14,784 12,465 (2,319)
Commodities 1,456 - 1,456 1,733 277
74,708 (209) 74,499 77,890 3,391
Depreciation 206,584 (206,584) - - -
Total operating expenses $ 1,2011200 (207,100) 994,100 1,087,913 93,813
74
VILLAGE OF OAK BROOK, ILLINOIS
Sports Core Fund
Schedule of Property, Plant and Equipment
and Accumulated Depreciation
Year ended April 30, 1982
Property, plant and equipment
Balance Additions and Balance
Apr.30,1981 transfers Apr.30,1982
Land and land rights $ 8,244,900 - 8,244,900
Golf course land improvements 1,131,757 50,855 1,182,612
Other land improvements 191,000 110,972 301,972 _
Clubhouse - golf 287,898 1,594 289,492
Clubhouse - bath and tennis 327,646 43,338 370,984
Other improvements 2289096 109215 238,311
Pools 929000 - 92,000 '-
Tennis courts 61,702 190,784 2529486
Clubhouse equipment 719576 997 72,573
Golf equipment 47,528 2,762 50,290 -.
$ 109684,103 411,517 11,095,620
75
D-9
VILLAGE OF OAK BROOK, ILLINOIS
Sports Core Fund
Schedule of Property, Plant and Equipment
and Accumulated Depreciation
Year ended April 30, 1982
Rate of Allowance for depreciation Net asset
depreciation Balance Additions and Balance value
(years) Apr.30,1981 transfers Apr.30,1982 Apr.30,1982
$ - - - 8,244,900
10 72,087 115,719 187,806 994,806
20 33,425 12,324 45,749 256,223
40 3,599 7,218 10,817 278,675
40 28,537 8,733 37,270 333,714
10 35,335 23,320 589655 1799656
20 16,100 4,600 20,700 71,300
15 14,279 10,473 24,752 227,734
5 43,761 14,415 58,176 14,397
5 4,753 9,782 14,535 35,755
2511876 206,584 458,460 10,637,160
76
W
k
FIDUCIARY FUNDS
Police and Firemen's Pension Funds - to account for the accumulation of resources
to be used for retirement annuity payments at appropriate amounts and times in the
future. Resources are contributed by employees at rates fixed by law and by the
i Village at amounts determined by an annual actuarial study.
}
3
77
E-1
VILLAGE OF OAK BROOK, ILLINOIS
Fiduciary Funds
Combining Balance Sheet
April 30, 1982
Pension Trust Funds
Police Firemen's
Assets Pension Pension Total
Cash $ 13 18 31
Investments:
Certificate of deposit 40,000 920,000 960,000
Government and agency securities 2,305,959 1,598,792 3,904,751
Savings accounts 24,038 5,857 292895
2,369,997 2,524,649 4,894,646
Accrued interest receivable 66,167 53,954 120,121
Due from other funds 36,416 46,433 82,849
Total assets $ 21472,593 2,625,054 51097,647
Liabilities and Fund Balance
_ Fund balance:
Reserved for employees retirement:
Statutory minimum 370,000 - 370,000
Amount in excess of statutory minimum 2,728,428 2,746,952 5,475,380
Unreserved deficit (625,835) (121,898) (747,733)
Total liabilities and fund
balances $ 2,472,593 2,625,054 5,097,647
See accompanying notes to financial statements.
78
E-2
VILLAGE OF OAK BROOK, ILLINOIS
Fiduciary Funds
Combining Statement of Revenues, Expenses
and Changes in Fund Balances
April 30, 1982
Pension Trust Funds
Police Firemen's
Pension Pension Total
Operating revenues:
Interest on investments $ 230,458 261,593 492,051
Contributions:
Employees 77,482 65,916 143,398
Village 190,768 271,802 462,570
268,250 337,718 605,968 -'
Miscellaneous - gifts 100 - 100
Total operating revenues 498,808 599,311 1,098,119
Operating expenses:
General and administrative 505 740 1,245
Benefit payments 27,908 20,646 48,554
Refunds 14,063 - 14,063
Total operating expenses 422476 21,386 63,862
Net income 456,332 577,925 1,034,257
Fund balance at April 30, 1981 2,0169261 2,047,129 41063,390
Fund balance at April 30, 1982 $ 2,472,593 2,625,054 51097,647
See accompanying notes to financial statements.
79
E-3
VILLAGE OF OAK BROOK, ILLINOIS
Fiduciary Funds
Combining Statement of Changes in Financial Position
Year ended April 30, 1982
Pension Trust Funds
Police Firemen's
Pension Pension Total
Sources of working capital - operations -
net income $ 456,332 577,925 1,034,257
Uses of working capital - net increase
in pension investments 442,740 563,619 1,006,359
Net increase in working capital $ 13,592 14,306 27,898
Elements of net increase (decrease)
in working capital:
Cash (33) (11) (44)
Receivables 17,011 12,615 29,626
Due from other funds (39386) 1,702 (19684)
Net increase in working capital $ 13,592 14,306 272898
See accompanying notes to financial statements.
80
E-4
VILLAGE OF OAK BROOK, ILLINOIS
Police Pension Fund
Statement of Revenues, Expenses and Changes in
Fund Balance - Budget and Actual
Year ended April 30, 1982
Adjustment
to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable) -
Operating revenues:
Interest on investments $ 230,458 (14,851) 215,607 160,000 55,607
Contributions:
Employees 77,482 (394) 77,088 79,813 (2,725)
Village 190,768 31779 194,547 197,185 (2,638)
268,250 3,385 271,635 276,998 (5,363)
Miscellaneous - gifts 100 - 100 100 - .�
Total operating
revenues 498,808 (11,466) 487,342 437,098 50,244
Operating expenses:
General and administrative 505 - 505 759 254
Benefit payments 27,908 - 27,908 30,697 2,789
Refunds 14,063 - 14,063 - (14,063)
Total operating _
expenses 42,476 - 42,476 31,456 (11,020)
Net income 456,332 $(11,466) 444,866 405,642 39,224
Fund balance at April 30, 1981 2,016,261
Fund balance at April 30, 1982 $ 21472,593 -
See accompanying notes to financial statements. _
81
E-5
w
VILLAGE OF OAK BROOK, ILLINOIS
w Firemen's Pension Fund
Statement of Revenues, Expenses and Changes in
Fund Balance - Budget and Actual
Year ended April 30, 1982
Adjustment
_. to Actual on Variance
budgetary budgetary favorable
Actual basis basis Budget (unfavorable)
Operating revenues:
Interest on investments $ 2619593 270 261,863 120,000 141,863
Contributions:
'— Employees 65,916 (944) 64,972 67,258 (2,286)
Village 2719802 (758) 271,044 2772712 (69668)
._ Total operating
revenues 599,311 (1,432) 597,879 464,970 132,909
Operating expenses:
General and administrative 740 - 740 944 204
Benefit payments 20,646 - 20,646 22,710 2,064
Total operating
expenses 21,386 - 21,386 23,654 2,268
Net income 577,925 $(19432) 5762493 441,316 1352177
Fund balance at April 30, 1981 2,047,129
Fund balance at April 309 1982 $ 216251054
See accompanying notes to financial statements.
82
GENERAL FIXED ASSETS ACCOUNT GROUP
To account for fixed assets not used in Proprietary- Fund operations or accounted
for in 'Trust Funds. _
83
F-1
VILLAGE OF OAK BROOK, ILLINOIS
Schedule of General Fixed Assets - By Sources
April 30, 1982
General fixed assets:
Land $ 188,741
Buildings and improvements 4,635,543
Furniture and fixtures 247,566
Roadway improvement 2,669,149
Automotive equipment 601,335
Other equipment 910,390
Libray books 162,477
Total general fixed assets $ 91415,201
Investment in general fixed assets from:
General Corporate Fund current revenues 6,905,302
Proceeds of indebtedness - Village Hall
and Library renovation 1,582,783
Gifts 518,738
Motor Fuel Tax Fund revenues 246,098
Federal Revenue Sharing Fund revenues 131,751
Special Service Area #1 30,529
Total investment in general fixed assets $ 9,415,201
84
F-2
VILLAGE OF OAK BROOK, ILLINOIS
Schedule of General Fixed Assets -
By Function and Activity
April 30, 1982
Buildings Furniture
and and Roadway Automotive Other Library
Function and activity Land improvements fixtures improvements equipment equipment books Total
General government:
Counsel and legal $ - - 2,735 - - 7,294 - 10,029
Village manager - - 5,831 - 7,000 4,012 - 16,843
Finance and accounting - - 14,786 - - 90,807 - 105,593
Engineering - - 10,413 - - 43,460 - 53,873
Village Hall 188,741 2,517,793 118,338 - - 805 - 2,825,677
Total general
government 188,741 2,517,793 152,103 - 7,000 146,378 - 3,012,015
Public safety:
Police Department - - 18,378 - 73,441 133,488 - 225,307
Fire Department - 1,166,618 34,255 - 191,277 380,452 - 1,772,602
Emergency medical service - - - - 110,412 51,311 - 161,723
Inspection bureau - - 699 - 4,156 16,799 - 21,654
Total public
safety - 1,166,618 53,332 - 379,286 582,050 - 2,181,286
Public works:
Administrative - - 5,000 - 4,269 - - 9,269
Street maintenance - - - - 210,780 161,402 - 372,182
Street improvements - 30,363 - 2,669,149 - - - 2,699,512
Municipal garage - 750,000 5,246 - - 20,560 - 775,806
Total public works - 780,363 10,246 2,669,149 215,049 181,962 - 3,856,769
Culture and recreation
library - 170,769 31,885 - - - 162,477 3659131
Total general
fixed assets $ 188,741 4,635,543 247,566 2,669,149 601,335 910,390 162,477 9,415,201 --
85
F-3
VILLAGE OF OAK BROOK, ILLINOIS
Schedule of Changes in General Fixed Assets -
By Function and Activity
Year ended April 30, 1982
General General
fixed fixed
assets assets
Function and activity May 1,1981 Additions Deductions Apr.30,1982
General government:
Counsel and legal $ 8,451 1,578 - 10,029
Village Manager 15,871 972 - 16,843
Finance and accounting 13,425 92,168 - 105,593
Engineering 51,752 2,121 - 53,873
Village Hall 2,817,101 8,576 - 2,825,677
Total general government 21906,600 105,415 - 3,012,015
Public safety:
Police Department 208,948 16,359 - 225,307
Fire Department 1,725,750 52,392 5,540 1,772,602
Emergency medical service 138,387 23,336 - 161,723
Inspection bureau 19,259 2,395 - 21,654
Total public safety 2,092,344 94,482 5,540 2,181,286
Public works:
_ Administrative 9,269 - - 9,269
Street maintenance 357,417 14,765 - 372,182
Street improvements 2,194,240 505,272 - 2,699,512
Municipal garage 770,225 5,581 - 775,806
Total public works 323312151 5252618 - 3,856,769
Culture and recreation -
library 339,427 25,704 - 365,131
Total general fixed
assets $ 8,6691522 751,219 5,540 9,415,201
86
Table 1
VILLAGE OF OAK BROOK, ILLINOIS
General Governmental Expenditures by Function (1)
Last Ten Fiscal Years
Fiscal Adminis- Engi- Public
year tration Police Fire Building neering works Library Pension Insurance Total
1982 $ 1,077,147 1,290,236 1,236,194 352,518 106,272 948,884 94,726 568,184 289,620 5,963,781
1981 396,298 1,193,727 1,087,356 344,257 96,839 861,170 89,569 564,553 257,431 4,891,200
1980 369,738 1,987,295 1,076,269 350,995 88,263 1,340,393 80,345 535,656 232,329 5,061,283
1979 429,812 882,185 714,978 93,972 56,795 497,209 48,346 389,922 258,847 3,372,066
1978 319,670 712,034 628,507 86,428 76,074 254,755 41,772 339,943 207,215 2,666,398
1977 368,902 707,421 624,661 78,111 71,530 225,542 36,084 237,195 151,597 2,501,043
1976 381,669 688,536 593,024 74,076 58,437 238,476 23,590 200,868 112,194 2,370,870
1975 437,693 608,090 519,045 64,071 68,188 275,046 21,339 174,042 91,482 2,258,996
1974 167,620 493,658 420,765 34,062 41,651 221,994 14,480 158,502 74,399 1,627,131
1973 1381288 403,233 314,908 24,406 34,020 139,397 10,892 111,190 73,073 1,249,407
_ (1) Includes expenditures of only the General Corporate Fund.
88
Table 2 -�
VILLAGE OF OAK BROOK, ILLINOIS
General Revenues by Source (1)
Last Ten Fiscal Years
Licenses Other Charges Fines
Fiscal General and inter- for and Investment
year sales tax permits government services forfeits interest Miscellaneous Total
1982 $ 4,546,477 238,017 201,409 309,682 155,465 549,906 28,385 6,029,341
1981 4,301,208 195,474 227,859 131,836 109,239 471,058 45,927 5,482,601
1980 4,697,077 192,044 184,740 148,497 88,678 336,901 517,825 6,165,762
1979 3,286,830 215,235 165,992, 240,561 103,367 203,992 32,646 4,248,623
1978 2,960,236 195,112 110,242 112,083 77,664 71,414 178,419 3,705,170
1977 2,353,858 123,894 157,971 74,062 55,534 82,410 204,385 3,052,114
1976 2,103,221 97,815 104,660 159,909 57,026 101,971 176,612 2,801,214
1975 1,952,700 63,032 118,532 64,304 50,649 184,003 269,000 2,702,220
1974 1,903,959 83,216 90,456 31,149 50,087 177,006 162,553 2,498,426
1973 1,670,236 55,364 244,761 21,195 27,188 1571213 24,999 X200,956
(1) Includes revenues of only the General Corporate Fund.
r►
89
Table 3
VILLAGE OF OAK BROOK, ILLINOIS
Property Tax Levies and Collections
Last Four Fiscal Years (1)
Percent of
Current total tax
year collections
abatement Total tax and Percent of
Total Percent Delinquent and collections write-offs Outstanding delinquent
tax Current tax of levy tax forfeiture and to delinquent taxes to
Fiscal year lei collections collected collections write-offs write-offs tax levy taxes tax levy
1982 (1980
levy)
(2)(3) $ 518,030 514,912 99.40% $ 3,789 2,967 521,668 100.00% $ 27,305 5.27%
1981 (1979
levy) (2) 483,900 , 479,949 99.18 16 1,409 481,374 99.48 29,385 6.07
1980 (1978
levy) 748,498 729,257 97.43 1,132 7,279 737,668 98.55 26,859 3.59
1979 (1977
levy) 843,838 823,267 97.56 I2696 22846 827,809 98.10 162029 1.90
-- (1) Prior to the 1981 tax levy, the Village levied property taxes for debt service purposes only and commenced
such levies for the 1977 tax year. Taxes are collected during the summer months of the year following
the year of the levy. Thus, collections are made in the fiscal year two years behind the year of the
levy.
(2) The 1979 and 1980 levies were abated by $300,000. These funds are to be contributed from excess revenues
of the General Corporate Fund.
(3) The 1981 levy, to be collected during the summer of 1982, was $277,439 after a $600,000 abatement to be
paid by the General Corporate Fund.
i'
w
l
90
Table 4
VILLAGE OF OAK BROOK, ILLINOIS
i
Assessed and Estimated Actual Value of Taxable Property (2)
Last Ten Fiscal Years
Personal
Real property property (1) Total Ratio of total
Estimated Estimated Estimated assessed/total
Fiscal actual actual actual estimated
year Assessed value Assessed value Assessed value actual value
1982 $ 293,897 890,597 - - 293,897 890,597 33.00%
1981 257,727 780,990 - - 257,727 780,990 33.00
1980 213,643 647,403 - - 213,643 647,403 33.00
1979 184,832 554,551 29,230 87,699 214,062 642,250 33.33
1978 163,202 489,655 22,854 68,569 186,056 558,224 33.33
1977 143,620 430,860 20,767 62,301 164,387 493,161 33.33
1976 128,005 382,904 20,797 62,210 148,802 445,114 33.43
1975 118,870 384,195 17,489 56,525 136,359 440,720 30.94
1974 109,890 330,894 13,729 41,339 123,619 372,233 33.21
1973 103,295 285,819 10,784 299839 1142079 315,658 36.14
(1) Personal property tax not assessed as of 1980 due to enactment of the personal
property replacement tax by state statute. _
(2) Dollar amounts in thousands.
91
Table 5
VILLAGE OF OAK BROOK, ILLINOIS
_ Property Tax Rates - All Overlapping Governments
(per $100 assessed valuation)
Last Ten Fiscal Years
Village Junior Grade High Oak Brook Hinsdale
Fiscal of Basic College School School Park Sanitary
year Total Oak Brook Town(1) #502 #53 #86 District District
1982 4.6863 .0944 .9425 .2222 1.3649 1.8334 .1598 .0691
1981 5.1113 .2010 1.0036 .1904 1.5661 1.9150 .1558 .0794
1980 5.8149 .2265 1.0629 .2070 2.2248 1.8620 .1341 .0976
1979 5.6082 .3495 0.9350 .1953 1.7895 1.9910 .2414 .1065
1978 5.8798 .4535 0.9789 .1973 1.8380 1.9781 .3103 .1237
1977 5.5792 - 0.9446 .1929 2.0464 1.9431 .3159 .1363
1976 5.787 - 1.067 .160 2.065 2.002 .333 .160
1975 5.804 - .899 .151 2.114 1.987 .329 .324
1974 6.067 - .952 .157 2.225 2.051 .317 .365
1973 6.110 - .833 .159 2.270 2.013 .245 .590
(1) Includes all county, forest preserve and township rates.
92
Table 6
VILLAGE OF OAK BROOK, ILLINOIS
Ratio of Net General Bonded Debt to Assessed Value
and Net Bonded Debt Per Capita
Last Six Fiscal Years
Ratio of
net Net
Debt bonded bonded
Assessed Gross service Net debt to debt
Fiscal Population value bonded monies bonded assessed per
year (in thousands) (in thousands) Debt(1) available debt value capita
1982 6,641(2) $ 293,897 9,150,000 163,155 8,986,845 3.058% 1,353
1981 6,641(2) 257,727 9,600,000 178,051 9,421,949 3.658 1,419
1980 5,281(3) 213,643 10,000,000 (221,744) 10,221,744 4.784 1,936
1979 5,281 214,062 10,270,000 116,239 10,153,761 4.743 1,923
1978 5,281 186,056 10,270,000 82,481 10,187,519 5.476 1,929
1977(4) 59281 1642387 - - - - -
(1) Includes only the general obligation recreation bonds.
(2) 1980 census.
(3) 1975 census.
(4) General obligation bonds were issued on September 1, 1977 with the first _
principal payment due December 1, 1979.
93
Table 7
VILLAGE OF OAK BROOK, ILLINOIS
Computation of Legal Debt Margin
April 30, 1982
—
Assessed value $ 293,897,000
Debt limit 8.625% of assessed value 25,348,616
Debt applicable to debt limit:
General Obligation Recreation Bonds $ 9,150,000
Heritage/Pullman Bank installment note 255,450
Total applicable debt 9,405,450
Legal debt margin $ 15,943,166
94
Table 8
VILLAGE OF OAK BROOK, ILLINOIS
—
Computation of Overlapping Debt
April 30, 1982
Percentage Amount
applicable to applicable to
Net debt Village of Village of
Jurisdiction outstanding Oak Brook Oak Brook
Village of Oak Brook $ 9,405,450 100.00% $ 9,405,450
—
Oak Brook Park District 450,000 98.10 441,450
DuPage County 68,153,820 4.74 3,230,491
Sanitary districts 8,460,000 23.24 1,966,104
Junior college district 11,700,000 4.74 554,580
Elementary school districts 14,396,800 19.57 2,817,454
High school districts 16,370,000 12.64 290692168
Total $ 202484,697 _
-
-
-
95
Table 9
VILLAGE OF OAK BROOK, ILLINOIS
Ratio of Annual Debt Service Expenditures for General
Bonded Debt to Total General Expenditures
Last Five Fiscal Years (1)
Ratio of
Total Total debt service
Fiscal debt general to total
year Principal Interest service expenditure (2) expenditures
1982(3) $ 450,000 433,825 883,825 5,963,781 14.82%
1981 400,000 454,650 854,650 4,891,200 17.47
1980(3) 270,000 477,410 747,410 5,061,283 14.77
1979(3) - - - 3,372,066 -
1978(3) - - - _ _
(1) All debt service expenditures in this table have been restated for adjustments
resulting from a change to comply with the principles of NCGA
Interpretation No. 3.
(2) Includes General Corporate Fund only.
(3) Bonds were issued on September 1, 1977 with the first principal payment due
December 1, 1979.
96
Table 10
VILLAGE OF OAK BROOK, ILLINOIS
Revenue Bond Coverage - Waterworks System Bonds
Last Seven Fiscal Years
r.
Fiscal year
1982 1981 1980 1979 1978 1977 1976
Net income of
Waterworks
System Fund $ 739,633 537,793 557,228 743,542 505,836 646,795 357,508
Add:
Depreciation 216,827 216,496 210,741 152,142 106,794 98,818 94,087
Interest
expense 275,550 289,425 300,925 312,425 322,825 282,712 168,100
Amortization of
bond issuance
costs 5,788 5,789 5,788 9,136 9,443 12,639 2,862
Amounts available
for revenue
bond debt
service $ 1,237,798 1,049,503 1,074,682 11217,245 944,898 12040,964 622,557
Revenue bond debt
service:
Principal 275,000 250,000 225,000 225,000 200,000 75,000 50,000
Interest 275,550 289,425 300,925 312,425 322,825 282,712 1682100 ..
$ 550,550 5392425 525,925 537,425 522,825 357,712 218,100
Coverage 225% 195 204 226 181 291 285
i
97
Table 11
VILLAGE OF OAK BROOK, ILLINOIS
Demographic Statistics
Education
level in
Per years of
Fiscal capita Median formal Unemployment
year Population income age education rate
1982 and
1981(1) 6,641 $ 17,384 39 - -
1980(2) 4,164 8,997 34 13.3 0.07
(1) Source - 1980 Federal Census and 1977 estimate. Other data not available from
�- Census Bureau.
(2) Source - 1970 Federal Census.
e
98
Table 12 --
VILLAGE OF OAK BROOK, ILLINOIS
Property Value, Construction and Bank Deposits
Last Ten Calendar Years
Commercial Residential
construction construction Estimated
Number Number Bank total
Calendar of Value of Value deposits(1) property
year units (in thousands) units (in thousands) (in thousands) value
1981 1 $ 798 63 $ 14,618 508,321,000 890,597,000
1980 6 14,554 81 19,446 433,987,000 780,990,000
1979 6 18,167 119 17,487 - 647,403,000
1978 17 29,295 138 16,367 - 642,250,000 _
1977 13 10,050 132 14,944 - 558,224,000
1976 3 1,740 73 7,941 - 493,161,000
1975 5 14,040 39 4,379 - 445,114,000
1974 4 4,350 27 2,391 - 440,720,000
1973 14 44,408 50 4,146 - 372,233,000
1972 6 41542 41 2,751 - 315,658,000
(1) Source - Polling of all banks in Village of Oak Brook. Data for years prior to
1980 was not available.
99 _
Table 13
VILLAGE OF OAK BROOK, ILLINOIS
Principal Taxpayers
April 30, 1982
Percentage
1981 of total
Assessed assessed
Taxpayer Type of business valuation valuation
LaSalle National Bank Oak Brook Shopping Center $ 11,731,876 3.99%
Trust #49475 property
Arthur Rubloff & Co. Commerce plaza 5,135,520 1.75
Regency Towers Office buildings 4,187,800 1.42
•-� LaSalle National Bank Office buildings 3,483,110 1.19
Trust #102160
McDonald's Corporation Corporate office 3,413,640 1.16
headquarters
Manufacturer's Life Executive towers 3,040,760 1.03
Real Estate
Marshall Field & Company Retail store 2,927,770 1.00
Oak Brook Hyatt House Hotel 2,745,620 .93
Eastman Kodak Regional headquarters 2,384,250 .81
Sears, Roebuck & Co. Retail store 2,215,130 .76
$ 41,265,476 14.04%
100
Table 14
VILLAGE OF OAK BROOK, ILLINOIS
Insurance in Effect
Fiscal year 1982-1983
Name of company Policy period Amount of
Type of insurance (policy number) From To coverage Premium
Employee benefit St. Paul Insurance $100,000
programs liability Company each
(512TD2984) 5-15-82 5-15-83 occurrence $ 219
Boiler and machinery Chubb/Pacific $1,000,000
insurance Indemnity Group each
(7827-60-60) 5-15-82 5-15-83 occurrence 955
Treasurer's bond American Motorists
Insurance Company
(2SM-061-900) 4-13-82 4-13-83 $100,000 73
Volunteer accident Home Insurance
insurance Company $17,500 each
(HVF-7-14-61) 5-15-82 5-15-83 occurrence 895
Host Liquor Continental
Liability Casualty
(RDD6925030 $1,000,000
Lloyds, London each
BL24851CA) 11-24-81 11-24-82 occurrence 1,335
Note - The Village entered into a contractual agreement with 14 other _
municipalities to form the Intergovernmental Risk Management Agency (IRMA),
which through its risk-sharing provisions provides the Village with its
insurance coverage for liability, property damage, workmen's compensation and
surety risks not covered by the Village's Treaurer's Bond. The Village's
contribution to this cooperative agency for 1981 was $123,425 and was
determined by the pro rata share for each municipality's audited revenues and
loss experience for the previous year, to be sufficient annually to fund _.
administrative expenses and create sufficient reserves for claim payments and
the purchase of excess insurance. The Agency provides loss protection in
excess of a deductible of $1,000 per occurrence to be paid by each
municipality. The Agency is required to pay up to $250,000 per occurrence for
loss or injury within the scope of its self-insurance coverage. The Agency has
also purchased excess catastrophe insurance over the amount of its $250,000
obligation and aggregate stop loss insurance. The amount of excess insurance
is $9,750,000 per occurrence for property exposures, vehicle, general liability
and workmen's compensation exposures. The Agency has contracted the services
of Gallagher Bassett Insurance Service for the claims administration function. —
As of April 30, 1982, IRMA members totaled 33 municipalities.
101
Table 15
VILLAGE OF OAK BROOK, ILLINOS
Miscellaneous Statistical Data
April 30, 1982
Date of incorporation February 21, 1958
Form of government Seven member Board of Trustees, including
President; Village Manager appointed by
Board of Trustees
Area 8.5 square miles
Miles of streets 53 miles
Number of street lights 385
Fire protection: Number of stations 2
Number of firemen 34
Number of volunteers 20
Police protection: Number of stations 1
Number of policemen and
officers 37
Detention facilities 2 juvenile; 6 adult
Education (elementary only) : Attendance centers 2
Number of teachers 43
Number of students 489
Municipal water department: Number of customers: 4,006 residential
338 commercial
56 unmetered
Total water pumped 1,058,882,000 gallons
"- Average daily
consumption 2,901,000 gallons
Miles of water mains 70
Building permits issued 64
Recreation: Oak Brook Sports Core - 269 acres including
bath and tennis club and 18-hole golf
course
Oak Brook Park District - 66 acres including
indoor and outdoor tennis
DuPage County Forest Preserve - 141 acres
Culture: Number of libraries 1
Number of volumes 29,193
Census data 1960, 324; 1970, 4,164; 1975, 5,281; 1980, 6,641
Employees: 122 full time
118 part time
102