The URL can be used to link to this page

CAFR (Year Ended December 31, 2012) �t t 0 P C. ' 0 t CO U 1 v� VILLAGE of OAK BROOK COMPREHENSIVE ANNUAL FINANCIAL REPORT For the Year Ended December 31 , 2012 i L L I VILLAGE OF OAK BROOK, ILLINOIS i �- COMPREHENSIVE ANNUAL FINANCIAL REPORT +- For the Year Ended December 31, 2012 Prepared by the Finance Department Sharon Dangles Finance Director VILLAGE OF OAK BROOK, ILLINOIS TABLE OF CONTENTS Page(s) INTRODUCTORY SECTION PrincipalOfficials............................................................................................................. i OrganizationChart............................................................................................................ ii Certificate of Achievement for Excellence in Financial Reporting.................................................................................. — Letterof Transmittal ......................................................................................................... iv-ix FINANCIAL SECTION INDEPENDENT AUDITOR'S REPORT........................................................................ 1-3 L GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS Management's Discussion and Analysis......................................................................MD&A 1-14 Basic Financial Statements Government-Wide Financial Statements Statement of Net Position................................................................................... 4 Statement of Activities....................................................................................... 5-6 Fund Financial Statements Governmental Funds Balance Sheet7 ................................................................................................ Reconciliation of Fund Balances of Governmental Funds to the '— Governmental Activities in the Statement of Net Position ......................... 8 Statement of Revenues, Expenditures and Changes in Fund Balances......... 9 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances to the Governmental Activities in the Statement of Activities...................................................... 10 — VILLAGE OF OAK BROOK, ILLINOIS TABLE OF CONTENTS (Continued) .a Page(s) FINANCIAL SECTION(Continued) GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS (Continued) Basic Financial Statements (Continued) Fund Financial Statements (Continued) Proprietary Funds Statement of Net Position.............................................................................. 11 Statement of Revenues, Expenses and Changes in Net Position................... 12 Statement of Cash Flows............................................................................... U-14 Fiduciary Funds Statement of Fiduciary Net Position.............................................................. 15 Statement of Changes in Fiduciary Net Position........................................... 16 Notes to Financial Statements................................................................................. 17-54 Required Supplementary Information Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - General Fund........................................................................ 55 Notes to Required Supplementary Information....................................................... 56-57 Schedule of Funding Progress Illinois Municipal Retirement Fund ................................................................... 58 Sheriff's Law Enforcement Personnel................................................................ 59 Police Pension Fund........................................................................................... 60 Firefighters' Pension Fund ................................................................................. 61 Other Postemployment Benefit Plan .................................................................. 62 Schedule of Employer Contributions •• Illinois Municipal Retirement Fund ................................................................... 63 Sheriff's Law Enforcement Personnel................................................................ 64 Police Pension Fund65 ........................................................................................... Firefighters' Pension Fund................................................................................. 66 _ Other Postemployment Benefit Plan .................................................................. 67 VILLAGE OF OAK BROOK, ILLINOIS TABLE OF CONTENTS (Continued) Page(s) FINANCIAL SECTION(Continued) COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES MAJOR GOVERNMENTAL FUNDS v Schedule of Revenues -Budget and Actual - General Fund................................... 68 Schedule of Expenditures -Budget and Actual - General Fund.............................. 69-75 Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - Infrastructure Fund............................................................... 76-77 NONMAJOR GOVERNMENTAL FUNDS Combining Balance Sheet....................................................................................... 78 Combining Statement of Revenues, Expenditures and Changesin Fund Balances..................................................................................... 79 Schedule of Revenues, Expenditures and Changes in Fund Balance -Budget and Actual Hotel/Motel Tax Fund........................................................................................ 80 MotorFuel Tax Fund.......................................................................................... 81 Foreign Fire Insurance Tax Fund........................................................................ 82 PromenadeTIF Fund.......................................................................................... 83 PROPRIETARY FUNDS MAJOR ENTERPRISE FUNDS Schedule of Revenues, Expenses and Changes in Net Position - Budget and Actual -Waterworks System Fund................................................ 84 Schedule of Operating Expenses - Budget and Actual - Waterworks System Fund................................................................................. 85 Schedule of Revenues, Expenses and Changes in Net Position - Budget and Actual - Sports Core Fund............................................................. 86 Schedule of Operating Revenues -Budget and Actual - SportsCore Fund.............................................................................................. 87 Schedule of Operating Expenses -Budget and Actual - SportsCore Fund.............................................................................................. 88-90 a VILLAGE OF OAK BROOK, ILLINOIS TABLE OF CONTENTS (Continued) low Page(s) FINANCIAL SECTION(Continued) COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES (Continued) PROPRIETARY FUNDS (Continued) INTERNAL SERVICE FUNDS Combining Statement of Net Position................................................................ 91 Combining Statement of Revenues, Expenses and Changes in Net Position ................................................................................... 92 Combining Statement of Cash Flows................................................................. 93-94 �. Schedule of Revenues, Expenses and Changes in Net Position - Budget and Actual Self-Insurance Fund....................................................................................... 95 GarageFund.................................................................................................. 96 Capital Replacement Fund ............................................................................ 97 FIDUCIARY FUNDS PENSION TRUST FUNDS Combining Statement of Plan Net Position........................................................ 98 Combining Statement of Changes in Plan Net Position..................................... 99 Schedule of Changes in Plan Net Position -Budget and Actual Police Pension Fund...................................................................................... 100 Firefighters' Pension Fund............................................................................ 101 .a STATISTICAL SECTION Financial Trends Net Position by Component..................................................................................... 102-103 Changein Net Position............................................................................................. 104-107 Fund Balances of Governmental Funds................................................................... 108-109 Changes in Fund Balances of Governmental Funds ................................................ 110-111 Revenue Capacity , Assessed and Estimated Actual Value of Taxable Property.................................... 112 .. Property Tax Rates -Direct and Overlapping Governments ................................... 113 Principal Revenue Taxpayers................................................................................... 114 Direct and Overlapping Sales Tax Rates.................................................................. 115 VILLAGE OF OAK BROOK, ILLINOIS TABLE OF CONTENTS (Continued) i Page(s) STATISTICAL SECTION (Continued) i `.. Debt Capacity Ratios of Outstanding Debt by Type........................................................................ 116 Schedule of Direct and Overlapping Bonded Debt.................................................. 117 %w Legal Debt Margin Information............................................................................... 118 Demographic and Economic Information Demographic and Economic Information................................................................ 119 AIM Principal Employers120 ................................................................................................. Retail Sales Volume - Top 25 Illinois Communities............................................... 121 Sales Tax Receipts - Cash Basis .............................................................................. 122 State Sales Tax Receipts by Month - Cash Basis..................................................... 123 Non-Home Rule Sales Tax Receipts by Month - Cash Basis.................................. 124 SalesTax by Category.............................................................................................. 125 `w Non-Home Rule Sales Tax by Category 126 Operating Information A Budgeted Full-Time Equivalent Employees ............................................................ 127-128 OperatingIndicators................................................................................................. 129 CapitalAsset Statistics............................................................................................. 130 VILLAGE OF OAK BROOK, ILLINOIS PRINCIPAL OFFICIALS December 31, 2012 Gopal Lalmalani, Village President Charlotte K. Pruss, Village Clerk BOARD OF TRUSTEES Stelios Aktipis Gerald Wolin Michael Manzo Asif Yusuf Mark M. Moy Elaine Zannis VILLAGE MANAGER David Niemeyer, Village Manager FINANCE DEPARTMENT Sharon Dangles, Finance Director/Treasurer i - i - Village of Oak Brook Organization Chart Residents January 2013 of Oak Brook Village Clerk Village President and Board of Trustees Village Manager Village Attorney Village Attorney Boards and (General) (Labor) Commissions Public Works/ Community Assistant Village Oak Brook Public Sports Core Manager Finance Director Chief of Police Fire Chief Engineering Development Library Director Director Director Director - ll - Certificate of Achievement _ for Excellence 111 Financial Reporting Presented to Village of oak gook Illinois For its Comprehensive Annual Financial Report for the Fiscal Year Ended December 31, 2011 A Certificate of Achievement for Excellence in Financial Reporting is presented by the Government Finance Officers �,. Association of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financial reports (CAFRs)achieve the highest standards in government accounting and financial reporting. f llltltfD ST�IES�� < i AND f AN °A President SEA _ �� CO�d9AiED�t CNi�nS�p Executive Director - iii - G� O F 0 p X90 � 6 0 G y April 30, 2013 A r � eco 11 Village of Oak Brook President and Board of Trustees 1W 1200 Oak Brook Road Village of Oak Brook Oak Brook,IL 60523-2255 Oak Brook, Illinois 60523 Website www.oak-brook.org lea' Administration Dear President and Board of Trustees: 630.368.5000 FAX 630.368.5045 We are pleased to present to you the Comprehensive Annual Financial Community Report (CAFR) of the Village of Oak Brook for the year ended Development December 31, 2012. According to mandated local ordinances and state w 630.368.5101 statutes it is required that a complete set of financial statements be FAX 630.368.5128 q p published and presented in conformance with accounting principles Engineering generally accepted in the United States of America (GAAP) and audited in 1 Department accordance with auditing standards generally accepted in the United States 630.368.5130 of America and those standards applicable to audits performed inFAX 630.368.5128 accordance with Government Auditing Standards by licensed independent Fire Department certified public accountants. 630.368.5200 FAX 630.368.5251 I Responsibility for both the accuracy of the presented data and the +w Police Department completeness and fairness of the presentation, including all disclosures, 630.368.8700 rest with the management of the Village. We believe to the best of our FAX 630.368.8739 knowledge, as presented, is accurate in all material respects and presented "" Public Works in a manner designed to fairly set forth the financial position and results of Department the operations. M 630.368.5270 a. FAX 630.368.5295 Management of the Village is responsible for establishing and maintaining internal controls designed to ensure that the assets of the Village are Oak Brook protected from loss,theft or misuse and to ensure that sufficient, reliable, �,. Public Library adequate accounting data is compiled for the preparation of financial 600 Oak Brook Road statements in conformity with GAAP. Internal accounting controls have 'ak Brook,IL 60523-2200 been designed to provide reasonable rather than absolute assurance that 630.368.7700 the financials statements will be free from material misstatement. We FAX 630.368.7704 believe that the Village's internal controls adequately safeguard assets and ,Oak Brook Sports Core provide reasonable assurance of properly recorded financial transactions. Bath&Tennis Club In addition, the Village maintains budgetary controls. The objective of 700 Oak Brook Road these controls is to ensure compliance with legal provisions embodied in `'Sak Brook,IL 60523-4600 the annual budget approved by the Village Board. All disbursements 630.368.6420 receive approval from the Board of Trustees. The Village also maintains FAX 630.368.6439 I>I> g an encumbrance system that is used as an extension of formal budgetary Golf Club integration. 2606 York Road >ak Brook,IL 60523-4602 a.. 630.368.6400 FAX 630.368.6419 - 1V- 1 The Village's financial statements have been audited by Sikich, a firm of licensed certified public accountants. The independent audit is to provide *— reasonable assurance that the financial statements of the Village of Oak Brook are free of material misstatements. The independent audit involved examining, on a test basis, evidence supporting the amounts and A. disclosures in the financial statements; assessing accounting principles used and significant estimates made by management; and the evaluation of the overall financial statement presentation. Based upon the audit for the year ending December 31, 2012, the independent auditors concluded, that there was a reasonable basis for rendering an unqualified opinion on the Village's financial statements. The independent auditor's report is low presented as the first component of the financial section of this report. Management's discussion and analysis (MD&A) immediately follow the independent auditor's report and provides a narrative introduction, overview and analysis of the basic financial statements. The MD&A complements this letter of transmittal and should be read in conjunction w with it. Profile of the Village of Oak Brook The Village of Oak Brook is located approximately 15 miles west of the Chicago Loop, near the geographic center of the seven-county Chicago metropolitan area. Excellent transportation links are provided to all parts of the greater metropolitan area by a network of tollways and federal and state highways which pass through or near the Village. The Tri-State Tollway(I-294), running along the Village's eastern boundary,provides rapid access to the northern and southern suburbs, and into Wisconsin and Indiana. The East-West Tollway(I-88), passing through the Village's northern sector,joins the Eisenhower Expressway to the northeast, providing direct access to Chicago's Loop. Additional links include east- west arteries Illinois Route 38 and U.S. Route 34, which pass, respectively,to the north and south of the Village, and Illinois Route 83, which bisects the community in a north-south direction. The Oak Brook area is generally bounded on the north by the communities of Lombard, Villa Park, Elmhurst and Oak Brook Terrace and on the south by Downers Grove, Westmont, Clarendon Hills and Hinsdale. The results of the 2010 Census were received in May, 2011, which shows the Village's total population at 7,883. This figure represents a decrease of 819 compared to the latest 2000 census. Additional demographic information about the Village is found in the Statistical Section of this report. - v - The Village of Oak Brook operates under the Village form of government with an elected Village President and six (6) Trustees. Operational management is provided by a professional manager appointed by the Board of Trustees. The Village provides a wide range of municipal services including general government,public safety(police and fire), public works, road maintenance, community development and recreation facilities and a free public library. For additional information concerning the Village, please visit our website at www.oak-brook.urg. Aft Local Economy and Finances The Village of Oak Brook has been and continues to be one of the preeminent business centers in the Chicago metropolitan area. Several Fortune 500 companies have facilities in the Village, including the corporate headquarters of McDonald's Corporation. As a retail center, Oak Brook offers upscale shopping, fine restaurants, and Oak Brook Center, one of the leading outdoor shopping centers in the United States. These factors, as well as the performance of the Illinois economy over times, have enabled the Village to operate without a real estate tax since inception due to the sales taxes generated from retail business activities. With sales taxes being the largest source of revenue, the local and national economy has a significant effect on the amount of revenue the Village receives. Like most other communities, since the late 1990's through 2003 Oak Brook had experienced flat to declining sales tax revenue. Starting in late 2008, the economic recession has affected sales tax revenues, which is slowly starting to stabilize. Although the economy is recovering slowly, the Village has worked to retain and support existing businesses, as well as stimulate opportunities for growth. New Commercial Development There are many changes and improvements now underway at Oakbrook Center. The improvements include pavers/pavement, modernized landscaping, signage, more efficient and effective lighting and water features by updating the fountains that will operate 365 days per year and coordinate with music and lights. Fire totems, which are safer than fire pits will include soft seating and be integrated at Oakbrook Center to create a modern, elegant look. Oakbrook Center will create a Village Green, grassy area for events, shows and promotions for tenants. There will also be a large digital sign and a place for movies in the park. -vi - ti. �• Apple Store has submitted a permit application for $6 million to relocate within Oakbrook Center to a space nearly three times the size. RockBridge Capital, LLC, the owners of the Le Meridian Hotel (former --� Renaissance Hotel) are in the process of submitting final plans for a$21 million renovation. The hotel is expected to open in early 2014. The Bloomingdale's space will now have multiple tenants such as Fixtures �- Living, Tommy Bahama, Hugo Boss, and the Container Store and Lululemon will relocate for larger spacing needs. Neiman Marcus closed their lower level space and will be occupied by two high end restaurants, "Barry's Steakhouse and Grill" and a microbrewery establishment. A portion of the main level at Sear's will be sublet to West Elm and Pottery Barn Kids. A new addition in 2012 was the construction of a 34,000 sq.ft. Pinstripes indoor entertainment facility in an outlot along the west side of Oakbrook Center. This facility offers bowling, indoor/outdoor bocce and bistro. New Office Development The HUB Group office building, which is an intermodal company construction is expected to be completed by late 2013. The corporate headquarters facility is located at 2000 Clearwater Drive. The HUB Group will initially bring in an estimated 350 employees to the site and an additional 250 by year 2015. Lewis University has relocated from 2122 22nd Street to a new 28,000 sq.ft. space at 111122 nd Street. In making this move, Lewis will be able to more than double their presence in Oak Brook. Another significant office relocation in 2012 involved the Millennium Trust group, which consolidated its area facilities into a 60,000 sq.ft space in the Commerce Plaza office complex. Long-term Financial Planning The Village uses a number of processes to accomplish financial planning which are outlined as follows: Goals and Objectives—this is an annual process in which the Village Board and staff express specific objectives to be accomplished. Typically, objectives relate to a specific task or project or to a change in methods or operations designed to achieve the stated objective. Roadway Maintenance Plan—this plan is based on the Village's pavement management database and on a visual inspection of every public street segment in the Village. The Plan, which is updated annually, includes a -vii - long-range schedule of roadway maintenance activities as well as cost projections over the next ten year period in order to plan for the orderly maintenance of the Village's roadway system. Five-Year Financial Plan—this document is prepared annually in order to provide the Village Board and the community with a five year projection of the financial condition of each of the twelve funds that comprise the Village's financial structure. This document is not as precise as the annual budget but it does project both revenues and expenditures for each of the next five years that can assist in identifying positive and negative trends. Annual Budget—using the information gathered through the goals and objectives process, roadway maintenance plan, and five-year financial plan, the annual line item budget is prepared. The budget is structured according to cost centers (called"programs") and sets the spending plan for the coming year. The foundation of all of the Village's financial planning is centered on the Village Board's well publicized policy of maintaining a cash and investment reserve in the General Fund that meets or exceeds six months of annual operating expenses. The six month policy level, which is higher than many other municipalities, was established due to the Village not having the predictability of real estate tax revenue and the fact that most of its general revenues that are collected by the State (sales and telecommunications taxes) have a three month delay. This conservative policy ensures that the Village will have sufficient funds on hand to operate in an emergency situation as well as having sufficient time to address any economic downturns. The soundness of this financial policy has proven itself as the Village has been able to maintain adequate cash reserves in this recessionary environment. i Major Initiatives In 2012, the replacement of Public Works roof and HVAC screening was -- completed, Public Works locker room renovation, Zetron Alert System in both fire stations, LED lighting in the Butler Government Center, emergency paging system at the Butler Government Center, evidence coding system in the Police department, public safety radio system upgrade, public works tractor and trucks were replaced and police vehicles. Water main improvements were completed in York Woods and Golf carts were purchased at the Sports Core. Included in the 2013 budget is the 2013 paving program, equipment replacement items for various departments, numerous municipal building improvements, and the fourth out of fifth payment related to the Village's financial obligation for the I- -viii - �,. 88/22"d Street Bridge Project. The Hotel/Motel Fund has planned various projects to attract and promote visitors to the area. �. In 2013 and after the Five-Year Financial Plan includes the majority of the Village's obligation for its final share of the 1-88/22"d Street Bridge Project and continuation of the annual paving program, police tiring range *► improvements, HVAC replacement at Fire Station 493, fire gear replacement, Heritage Center improvements, replacement of cardiac monitors, pedestrian access (Hotels and offices to Oakbrook Center), and 22nd St. beautification project(Salt Creek to 1294). Awards and Acknowledgements The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the Village of Oak Brook for its Comprehensive Annual Financial Report for the year ended December, 31, 2011. In order to be awarded a Certificate of Achievement, 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 Achievement is valid for a period of one year only. The Village has successfully obtained the Certificate of Achievement for 35 consecutive years. We believe that our current Report conforms to ,,. Certificate of Achievement Program requirements, and we are submitting it to GFOA to determine its eligibility for another certificate. .. The preparation of this report could not be published without the efficient and dedicated services of the entire Finance Department 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 President and members of the Board of Trustees for their interest and support in planning and conducting the financial operations of the Village y- in a responsible and progressive manner. ./ Sharon Dangles Finance Director i t Certified Public Accountants & Advisors .� Members of American Institute of WSikich(., Certified Public Accountants 1415 W. Diehl Road, Suite 400 • Naperville, IL 60563 INDEPENDENT AUDITOR'S REPORT LThe Honorable President Members of the Board of Trustees Village of Oak Brook Oak Brook, Illinois We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund and the aggregate remaining fund information of the Village of Oak Brook, Illinois (the Village) as of and for the year ended December 31, 2012, which collectively comprise the Village's basic financial statements as listed in the table of contents and the related notes to financial statements. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility +.. Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain •- reasonable assurance about whether the financial statements are free of material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and *- disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Village's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Village's internal control. Accordingly,we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. - 1 - Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund and the aggregate remaining fund information of the Village of Oak Brook,Illinois, as of December 31, 2012, and the respective changes in financial position, and, where applicable, cash flows thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America. Emphasis of Matter �- The Village adopted GASB Statement No. 63,Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position and GASB Statement No. 65,Items Previously Reported as Assets and Liabilities, during the year ended December 31, 2012. +•• Statement No. 63 added new classifications on the statements of net position and changed net assets to net position. Statement No. 65 changed the classifications of certain items on the statement of net position to the new classifications contained in GASB Statement No 63. The �.. adoption of these statements had no effect on any of the Village's net positions or fund balances as of and for the year ended December 31, 2012. w.. Other Matters Accounting principles generally accepted in the United States of America require that the management's discussion and analysis and other required supplementary information listed in the table of contents be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Village of Oak Brook, Illinois' financial statements as a whole. The introductory section, combining and individual fund financial statements and schedules and statistical section are presented for purposes of additional analysis and are not a required part of the financial statements. The combining and individual fund statements and schedules are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion,the information is fairly stated in all material respects in relation to the financial statements as a whole. The introductory and statistical sections have not been subjected to the auditing procedures applied in �- the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them. - 2 - The prior year comparative information has been derived from the Village of Oak Brook, Illinois' 2011 financial statements and, in our prior year report dated May 1, 2012, we expressed unqualified opinions on the respective financial statements of the governmental activities, the business-type activities, each major fund and the aggregate remaining fund information. Naperville, Illinois` April 17, 2013 i OMNI ONO i i a i 1 ^ i I i i i — 3 — GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS VILLAGE OF OAK BROOK, ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (continued) — Government-Wide Financial Statements — The government-wide financial statements are designed to provide readers with a broad overview of the Village's finances, in a manner similar to a private-sector business. The focus of the Statement of Net Position presents information on all of the Village's assets and liabilities, with the difference between the two reported as net position. This statement combines and consolidates governmental fund's current financial resources (short-term spendable resources) with capital assets and long-term obligations using the accrual basis of accounting and economic — resources measurement focus. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the Village is improving or deteriorating. The Statement of Activities presents information showing how the government's net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of the cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g., earned but unused compensated absences). Both of the government-wide financial statements (see pages 4-6) distinguish functions of the Village that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their — costs through user fees and charges (business-type activities). The governmental activities of the Village reflect the Village's basic services, including administration, police, fire and emergency medical services, engineering, public works, library, and community development. The _ business-type activities of the Village, which are based on a fee for service designed to cover all or most of the cost of operation, include the waterworks system and operations of the Oak Brook Sports Core. — Fund Financial Statements _ Traditional users of governmental financial statements will find the Fund Financial Statements to be more familiar. The focus of the presentation is on major funds rather than fund types. A fund is a grouping of related accounts that is used to maintain control over resources that have been _ segregated for specific activities or objectives. The Village, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the Village can be divided into three categories: _ governmental funds, proprietary funds, and fiduciary funds. Governmental Funds. Governmental funds are used to account for essentially the same — functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as balances _ of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government's near-term financing requirements. (See independent auditor's report) - MD&A2 - — VILLAGE OF OAK BROOK, ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (continued) Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the government's near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. The Village maintains 6 individual governmental funds. Information is presented separately in the governmental fund balance sheet and statement of revenues, expenditures, and changes in fund balances for the General Fund and Infrastructure Fund, both of which are considered to be "major" funds. Data from the other 4 governmental funds are combined into a single, aggregate presentation. Individual fund data for each of these nonmajor governmental funds is provided in the form of combining statements elsewhere in this report. The Village adopts an annual budget for each of its governmental funds. A budgetary comparison statement has been provided elsewhere in this report to demonstrate compliance with the budget. The basic governmental fund financial statements can be found on pages 7 through 10 of this report. Proprietary Funds. The Village maintains two different types of proprietary funds: enterprise funds and internal service funds. Enterprise funds are used to report the same functions — presented as business-type activities in the government-wide financial statements. The Village uses enterprise funds to account for its waterworks system and the operations of the Oak Brook Sports Core. Internal service funds are an accounting device used to accumulate and allocate costs internally among the Village's various functions. The Village uses internal service funds to account for the costs of health and dental insurance, garage operations, and the advance funding of equipment replacement. Because the Village's costs for these items relate to both governmental and business-type functions, the costs have been allocated to each type of activity where appropriate. _ Proprietary funds provide the same type of information as the government-wide financial statements, only in more detail. The proprietary fund financial statements provide separate information for the Waterworks System and the Oak Brook Sports Core, both of which are considered to be major funds of the Village. Conversely, the internal service funds are combined into a single, aggregated presentation in the proprietary fund financial statements. Individual fund data for the internal service funds is provided in the form of combining statements elsewhere in this report. The basic proprietary fund financial statements can be found on pages 11 through 14 of this — report. (See independent auditor's report) - MD&A 3 - VILLAGE OF OAK BROOK, ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (continued) _ Fiduciary Funds. Fiduciary funds are used to account for resources held for the benefit of — parties outside of the government. Fiduciary funds are not reflected in the government-wide financial statements because the resources of those funds are not available to support the Village's own programs. The accounting used for fiduciary funds is much like that used for — proprietary funds. The Village maintains two fiduciary funds: the Police Pension Fund and the Firefighters' Pension Fund. The basic fiduciary fund financial statements can be found on pages 15 and 16 of this report. Infrastructure Assets Prior to 2003, the Village's largest group of assets (infrastructure assets- roads, bridges, storm sewers, etc.) were not reported nor depreciated in governmental financial statements. GASB Statement No. 34, which was implemented in 2003, requires that these assets be valued and reported within the Governmental column of the Government-wide Statements. Additionally, the Village must elect to (1) depreciate the assets over their estimated useful life or (2) develop a system of asset management designed to maintain the service delivery potential to near — perpetuity (modified approach). The Village has chosen to depreciate assets over their useful life. If a road project is considered maintenance-a recurring cost that does not extend the original useful life or expand its capacity-the cost of the project will be expensed. An "overlay" of a road will be considered maintenance whereas a"rebuild" of a road will be capitalized. Notes to the Financial Statements The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found on pages 17 through 54 of this report. Other Information _ In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information concerning the Village's progress in funding its obligation to provide benefits to its employees. Required supplementary information can be — found on pages 55 through 67 of this report. The combining statements referred to earlier in connection with nonmajor governmental funds, — nonmajor enterprise funds, and internal service funds are presented immediately following the required supplementary information on pensions. Combining and individual fund statements and schedules can be found on pages 68 through 101 of this report. — Financial Analysis of the Village as a Whole Beyond presenting current year financial information in the government-wide and major — individual fund formats, the Village also presents comparative information from the prior year in the Management's Discussion and Analysis. By doing so, the Village is providing an additional means of analyzing its financial condition and financial position as of December 31, 2012. _ (See independent auditor's report) - MD&A4 - — VILLAGE OF OAK BROOK, ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (continued) GOVERNMENT-WIDE STATEMENTS - The Government-wide Financial Statements were designed so that the user can determine if the Village's financial position has improved or deteriorated from the prior year. The Village's overall financial condition has remained stable. Summary of Net Position - The following table reflects a Summary of Net Position for fiscal years 2012 and 2011. Table 1 Statement of Net Position As of December 31, 2012 and 2011 (in millions) Governmental Business-Type Total Primary _ Activities Activities Government 2012 2011 2012 2011 2012 2011 Current and Other Assets $ 31.5 $ 31.8 $ 1.9 $ 2.6 $ 33.4 $ 34.4 Capital Assets 60.4 60.8 30.1 28.9 90.5 89.7 Total Assets 91.9 92.6 32.0 31.5 123.9 124.1 Long-Term Liabilities 8.4 10.1 0.3 0.6 8.7 10.7 _ Other Liabilities 2.6 3.3 0.5 0.6 3.1 3.9 Total Liabilities 11.0 13.4 0.8 1.2 11.8 14.6 Net Position: Net Investment in capital assets 57.6 56.2 30.0 28.5 87.6 84.7 Restricted 9.3 9.4 - - 9.3 9.4 Unrestricted 14.0 13.7 1.2 1.8 15.2 15.5 Total Net Position $ 80.9 $ 79.3 $ 31.2 $ 30.3 $ 112.1 $ 109.5 The Village's combined net position increased by $2.6 million from $109.5 to $112.1 million - during 2012. The increase in net position of governmental activities is mainly due to an increase in receivables due from the Sports Core Fund. The increase in net position of business-type activities is primarily due to the capitalization of fixed assets. (See independent auditor's report) - MD&A 5 - VILLAGE OF OAK BROOK, ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (continued) - The net investment in capital assets is the largest portion of net position. This represents capital - assets (land, buildings, improvements, equipment, infrastructure and construction in progress), net of accumulated depreciation, and the outstanding related debt used to acquire the assets. The Village uses these capital assets to provide services to its citizens and these assets are not _ available for future spending. For more detailed information, see the Statement of Net Position on page 3. Summary of Changes in Net Position The following table summarizes the revenues and expenses of the Village's activities for 2012 and 2011: Table 2 Changes in Net Position For the Fiscal Year Ended December 31, 2012 and 2011 (in millions) Governmental Business-Type Total Primary - Activities Activities Government 2012 2011 2012 2011 2012 2011 REVENUES Program Revenues: Charges for Services $ 2.7 $ 2.6 $ 9.8 $ 8.1 $ 12.5 $ 10.7 - Grants and Contributions 0.3 1.0 0.3 1.0 General Revenues: Sales and Local Use Taxes 16.7 16.0 16.7 16.0 _ Utility Taxes 4.9 4.7 4.9 4.7 Other Taxes 2.4 2.2 2.4 2.2 Investment Income - - - - Other - - - - Total Revenues 27.0 26.5 9.8 8.1 36.8 34.6 EXPENSES General Government 3.7 4.2 3.7 4.2 Public Safety 13.4 12.3 13.4 12.3 Public Works 6.1 4.9 6.1 4.9 Culture and Recreation 1.8 1.7 1.8 1.7 - Waterworks System - - 5.6 4.9 5.6 4.9 Sports Core - - 3.3 3.1 3.3 3.1 Interest on Long-Term Debt 0.4 0.4 0.4 0.4 - Total Expenses 25.4 23.5 8.9 8.0 34.3 31.5 Change in Net Position $ 1.6 $ 3.0 $ 0.9 $ 0.1 $ 2.5 $ 3.1 - Total Net Position $ 80.9 $ 79.3 $ 31.2 $ 30.3 $ 112.1 $ 109.5 (See independent auditor's report) - MD&A 6 - - VILLAGE OF OAK BROOK, ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (continued) Total revenues increased $2.2 million, or 6.4 %, compared to the prior year. Total expenses increased $2.8 million, or 8.9%, compared to the prior year. Governmental Activities The net position of the Villages governmental activities increased by$1.6 million. The increase in the governmental activities net investment in capital assets is $1.4 million or 2.5% compared to the prior year. The following chart shows revenues by source of governmental activities by percent of total revenues. 2012 Revenues By Source- Governmental Activities Other .28% Other Charges for Taxes Services 8.84% 10.10% Grants and Contributions .99% Utility Taxes 18.12% Sales and Use Taxes 61.67% (See independent auditor's report) MD&A 7 - VILLAGE OF OAK BROOK, ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (continued) The following is a chart of revenues by source for governmental activities for fiscal years 2012 and 2011. Revenues b Source - Governmental Activities Other I ether Tares S E2011 t�Gty�aXe i, 13201 U 12__ es w les and Use Sa and Gontribut�on j Grants es for Se ��ces — ,-har9 $0 $2 $4 $6 $8 $10 $12 $14 $16 $18 Millions Current Year Impacts Revenues—Governmental Activities For the fiscal year ended December 31, 2012, revenues totaled $27.0 million, an increase of$.6 million from 2011. Revenue from sales and use taxes, which continues to be the Village's largest revenue source, amounted to more than $16.0 million or 61.7% of total revenue, an increase of $.7 million or 4.1% from 2011. Utility taxes, which include the taxes imposed on electric, natural gas, and telecommunications services, were $4.9 million or 18.1% of total revenues. This represents an increase of 5.2% from the comparable amount in 2011. The "other taxes" classification includes a number of different revenue sources including income — taxes, personal property replacement taxes, and hotel taxes. For 2012, these revenues were $2.4 million or 8.9% of total revenues, with an increase of$.2 million or 9.6% from 2011. Personal property replacement taxes, income taxes and hotel taxes increased when compared to last year. — Charges for services, which include revenue such as building/inspection fees, permit fees, ambulance fees have increased $.1 million, which is primarily attributed to an increase in the — amount of permits compared to 2011. Investment income is still experiencing low investment yields and no significant change compared to 2011. (See independent auditor's report) - MD&A 8 - — VILLAGE OF OAK BROOK, ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (continued) Expenses by Function - Governmental Activities $14 $12 02012 $10 C $8 p $6 ■2011 $4 , 2 �. t� �ot`�s ea,�`on �es� GO Q��`\G Q��\`G &9-ect Geeta G Ole Expenses by Function—Governmental Activities _ Expenses for the Village of Oak Brook for Governmental activities amounted to a total of$25.4 million in 2012, an increase of$2.0 million from 2011. As required by GASB Statement No. 34, the expense totals include depreciation expense of $1.8 million for governmental activities. Depreciation expense, which includes depreciation on infrastructure, has been allocated over the most appropriate functional categories. Public Safety(Police)—these expenses reported in governmental activities increased $.7 million, or 11.0% compared to the prior year due to contract raises, moving from a 80 hour to 84 hour work period, being short 3 officers, and retirement payouts. Public Safety (Fire) — these expenses reported in governmental activities increased $.4 million, or 8.5% compared to the prior year. This was due to contract raises and a retirement with the final payouts. Public works expenses were $6.1 million, an increase of$1.2 million from 2011 due to Roadway Improvements. Culture and recreation expenses were $1.8 million, which is not a significant change comparable to 2011. Additionally, the General Fund had reduced expenses $.5 million, or 12.5% compared to the prior year. The Village made a concerted effort to not increase expenditure spending due to the unforeseen future in the current economic environment. (See independent auditor's report) - MD&A9 - VILLAGE OF OAK BROOK, ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (continued) — Business-type Activities The business-type activities in net position increased by $.9 million. The net investment in capital assets increased by $1.5 million compared to last year mainly due to infrastructure projects that occurred in 2012. For business-type activities, revenues for the waterworks system were $6.7 million which increased $1.4 million compared to the prior year. This was due to an increase in water sales revenue of 28.9% compared to 2011 and an increase in 2012 water rates. Revenues for Sports Core were $3.2 million, which increased $.3 million compared to the prior year. This was mainly due to an increase in the overall improvement of sales compared to 2011. For business-type activities, expenses for the waterworks system were $5.6 million or 63.4% of total expenses, which is an increase of$0.7 million from 2011. Sports Core expenses were $3.3 — million or 36.6% of total expenses, no significant change from 2011. FINANCIAL ANALYSIS OF THE VILLAGES FUNDS — Governmental Funds As noted earlier, the Village of Oak Brook uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. As of December 31, 2012, the governmental funds (as presented on the balance sheet on page 7) had a combined fund balance — of $26.9 million, which is an increase of $1.6 million over the prior year. The economy has shown some signs of recovery in consumer spending and user fees used to support the General Fund. The Infrastructure Fund, which is primarily supported by the Village's non-home rule — sales tax, decreased by .5 million compared to 2011 due to a decrease in intergovernmental revenues and increase in expenditures. The non-major governmental funds had an increase of$.4 _ million due primarily to expenditures in the Hotel Beautification District in 2012. Proprietary Funds Net position for the Village's two business-type activities increased $0.9 million from 2011 (see pages 11-12). In the Water Fund, net position increased due to an increase in capital assets. In — the Sports Core Fund, net position decreased slightly by $0.1 million due to an increase in total liabilities. In 2003, the Village Board policy was to require budget transfers when an individual program or fund exceeds its budget in total. In addition to these program transfers, beginning in 2004 the Village Board approved an ordinance requiring a budget transfer for any individual line item — account that exceeded its budget by more than 110%. In October, 2006 this policy was further revised by eliminating the 110% threshold and instead requiring a line item budget transfer for any variance exceeding $10,000 in a personnel series account and variances exceeding $2,500 in all other accounts. In order to stay in compliance with these policies, the Village Board amended the original budget on seven occasions during the year. (See independent auditor's report) - MD&A 10 - — VILLAGE OF OAK BROOK, ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (continued) Table 3 General Fund Budgetary Highlights For the Fiscal Year Ended December 31,2012 Intergovernmental $ 10,655,000 $ 10,655,000 $ 11,251,155 Utility Taxes 4,640,000 4,640,000 4,900,869 Licenses & Permits 839,900 839,900 1,201,998 Charges for Services 1,133,700 1,133,700 970,778 Other 1,777,430 1,777,430 1,749,669 Total Revenues and Transfers 19,046,030 19,046,030 20,074,469 EXPENDITURES General Government 3,550,835 3,507,435 3,579,426 T Public Safety 12,822,210 12,862,560 12,794,191 Public Works 647,845 639,645 496,895 Culture and Recreation 941,130 941,130 896,889 Debt Service 295,005 295,005 295,003 Capital Outlay 785,005 796,255 728,583 Total Expenditures and Transfers 19,042,030 19,042,030 18,790,987 OTHER FINANCING SOURCES (USES) Transfers In - - 275,000 Change in Fund Balance $ 4,000 $ 4,000 $ 1,558,482 Intergovernmental revenues were over budget due primarily to sales tax revenue receipts being $.6 million higher than budget projections. Charges for services were under budget due to a decrease in special services and false alarm fees for police and fire. Licenses and permits were over budget due to increased permit activity. Actual expenditures were $.2 million below of the original and amended budget. Due to the unforeseen future in the economic environment, the Village limited spending to only essential items in 2012 and a number of positions continued to be left vacant. (See independent auditor's report) - MD&A 11 - VILLAGE OF OAK BROOK, ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (continued) Capital Assets - The following schedule reflects the Village's capital asset balances as of December 31, 2012 and 2011. - Table 4 Capital Assets As of December 31, 2012 and 2011 (in millions) Governmental Business-Type Activities Activities Total 2012 2011 2012 2011 2012 2011 Land and Land Right of Way $ 32.3 $ 32.3 $ 8.3 $ 8.3 $ 40.6 $ 40.6 Buildings and Land Improvements 19.4 19.1 8.7 8.7 28.1 27.8 - Machinery,Vehicles, and Equipment 9.3 8.8 5.8 5.7 15.1 14.5 Infrastructure 34.3 34.3 23.8 22.2 58.1 56.5 _ Construction in Progress - - - 0.1 - 0.1 95.3 94.5 46.6 45.0 141.9 139.5 Less: _ Accumulated Depreciation (34.9) (33.7) (16.5) (16.1) (51.4) (49.8) Total $ 60.4 $ 60.8 $ 30.1 $ 28.9 $ 90.5 $ 89.7 At year-end, the Village's investment in capital assets (net of accumulated depreciation) for both its governmental and business-type activities was $90.5 million, an increase of$.8 million from J' 2011 (see Note 5 in the Notes to the Financial Statements for further information regarding capital assets). Major capital asset events during 2012 included the following: • Building Improvements at Heritage Center, replacement of Public Works roof and HVAC screening, Public Works locker room renovation, Zetron Alert System in both fire stations, LED lighting in the Butler Government Center, carpet replacement in the administration area, access control system, emergency paging system at the Butler Government Center, evidence coding system in the Police department, WIFI project, smart board, and public safety radio system upgrade totaling $.4 million that were purchased for use in governmental activities. • For business-type activities, the majority was due to water main improvements in York Woods totaling $1.6 million and Golf carts for$.2 million. (See independent auditor's report) - MD&A 12 - -- VILLAGE OF OAK BROOK, ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (continued) Long-Term Debt As a non-home rule community, the Village's legal general obligation debt limit is 8.625 percent of equalized assessed valuation (EAV), or $127,507,981 based on January 1, 2011 EAV of $1,493,831,669. As of December 31, 2012, the Village has $1,335,000 of debt outstanding attributed to one installment contracts that is applicable to the legal limit (see Note 7 in the Notes to the Financial Statements for details of each issue). The table below summarizes the Village's outstanding long-term debt: Table 5 Long-term Debt As of December 31, 2012 Governmental Business-Type Activities Activities Total General Fund Certificates: Series 2009 (Refunding) $ 1,335,000 $ - $ 1,335,000 Note Payable 5,558,930 168,837 5,727,767 Total $ 6,893,930 $ 168,837 $ 7,062,767 The General Fund Certificates are general obligations of the Village but are not secured by a pledge of property taxes. The General Fund Certificates, Series 2009 (refunding) received a rating of Aa2 from Moody*s Investor Service, Inc.. The Village has two note payables, in which one is to the Illinois State Toll Highway in connection with the intergovernmental agreement between the Village, the Tollway and the Illinois Department of Transportation. The Village has one remaining annual installment until it's retired in 2013. The balance on the Illinois State Toll Highway note payable at December 31, 2012 is $1.7 million. The Village's second note payable is to the Tax Increment Financing (TIF) District developers for certain improvements in the TIF area located at the Promenade (22nd Street and Meyers Road). The TIF Note is not a general obligation to the Village and it expires in 2024. Repayment of the note is limited to the availability of pledged taxes. The balance on the TIF redevelopment agreement at December 31, 2012 is $4.1 million. Economic Factors and Next Year's Budget Whereas real estate taxes are typically a major source of revenue in most other municipalities, the Village of Oak Brook does not levy a tax on real estate. In addition, since Oak Brook is a non-home rule community and is subject to the tax cap, this effectively limits the Village's real estate tax levy at $-0-. Thus, as compared to other municipalities, Oak Brook's revenue stream is much more dependent on the local and national economy since sales taxes, utility taxes, and state-shared revenues are the primary sources of income to the Village. (See independent auditor's report) - MD&A 13 - VILLAGE OF OAK BROOK, ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (continued) During the current fiscal year, unassigned fund balance in the General Fund increased from $13.5 million to $14.8 million primarily due to an increase in receivables due from the Sports Core Fund as explained previously. The Village's intent is to hold this fund balance in reserves and was not used in the 2013 fiscal year budget. The 2013 Budget continues to be a conservative financial plan while providing excellent services to its residents and business community. The 2013 budgeted revenues are $49.8 million, a 10% -- increase from the 2012 Budget. This is mostly due to an increase in Water revenues of 20% increase which will be passed on from the DuPage Water Commission and the City of Chicago. The total spending in the 2013 Budget is $46.9 million, a decrease of$2.2 million, or 4.6% from the 2012 Budget. This is mainly due to a reduction in major capital improvements in the Infrastructure and Water Funds. The projected ending cash balance for 2013 in the General Corporate Fund of$11.4 million is equal to 7.4 months of operating expenditures, which is above the six month reserve requirement. CONTACTING THE VILLAGE'S FINANCIAL MANAGEMENT This financial report is designed to provide our citizens, customers, investors and creditors with a general overview of the Village's finances and to demonstrate accountability for the money it receives. Questions concerning this report or requests for additional financial information should be directed to Sharon A. Dangles, Finance Director/Treasurer, Village of Oak Brook, 1200 Oak Brook Road, Oak Brook, IL 60523. (See independent auditor's report) - MD&A 14 - ._ LVILLAGE OF OAK BROOK,ILLINOIS LSTATEMENT OF NET POSITION December 31,2012 L Governmental Business-Type jActivities Activities Total �• ASSETS Cash and investments $ 22,119,857 $ 3,071,628 $ 25,191,485 Receivables(net of allowances for uncollectibles) Sales taxes 4,990,442 - 4,990,442 L Utility taxes 835,669 - 835,669 Accounts 389,474 - 389,474 Billed and unbilled water sales - 553,365 553,365 Allotments 16,318 - 16,318 Accrued interest 48,046 8,417 56,463 Other 1,013,054 111,050 1,124,104 Advances to(from)other funds 2,545,898 (2,545,898) _ Internal balances (530,135) 530,135 Inventories 48,509 138,394 186,903 Prepaid expenses 18,166 - 18,166 Capital assets Nondepreciable 32,304,134 8,292,266 40,596,400 LDepreciable,net of accumulated depreciation 28,118,344 21,828,683 49,947,027 Total assets 91,917,776 31,988,040 123,905,816 LIABILITIES '" Accounts payable 1,067,991 368,179 1,436,170 Accrued payroll 370,564 43,346 413,910 Accrued interest 140,727 - 140,727 L• Claims payable 176,970 - 176,970 Deposits 667,504 92,348 759,852 Unearned revenue 158,357 24,425 182,782 �, Long-term liabilities Due within one year 2,769,417 258,942 3,028,359 Due in more than one year 5,619,180 - 5,619,180 Total liabilities 10,970,710 787,240 11,757,950 NET POSITION Net investment in capital assets 57,583,524 29,952,112 87,535,636 Restricted for Infrastructure 5,398,644 - 5,398,644 .. Maintenance of roadways 694,118 - 694,118 Public safety 233,204 - 233,204 Culture and recreation 2,775,235 - 2,775,235 Economic development 221,926 - 221,926 Unrestricted 14,040,415 1,248,688 15,289,103 TOTAL NET POSITION $ 80,947,066 $ 31,200,800 $ 112,147,866 See accompanying notes to financial statements. L. - 4 - VILLAGE OF OAK BROOK,ILLINOIS STATEMENT OF ACTIVITIES For the Year Ended December 31,2012 r Program Revenues FUNCTIONS/PROGRAMS Charges Operating Capital PRIMARY GOVERNMENT Expenses for Services Grants Grants " Governmental Activities General government $ 3,657,138 $ 1,585,423 $ 37,242 $ - Public safety 13,423,674 1,115,014 - - Public works 6,114,695 14,334 230,030 - Culture and recreation 1,782,958 18,003 - - Interest 371,928 - - - -r Total governmental activities 25,350,393 2,732,774 267,272 - Business-Type Activities Waterworks System 5,649,700 6,666,679 3,525 - Sports Core 3,257,847 3,178,211 - Total business-type activities 8,907,547 9,844,890 3,525 - TOTAL PRIMARY GOVERNMENT $ 34,257,940 $ 12,577,664 $ 270,797 $ - Ono r r - 5 - Net(Expense)Revenue and Change in Net Position w Primary Government Governmental Business-Type Activities Activities Total o.. $ (2,034,473) $ - $ (2,034,473) (12,308,660) - (12,308,660) (5,870,331) - (5,870,331) (1,764,955) - (1,764,955) (371,928) - (371,928) (22,350,347) - (22,350,347) 44w - 1,020,504 1,020,504 - (79,636) (79,636) - 940,868 940,868 (22,350,347) 940,868 (21,409,479) General Revenues Taxes Property 361,973 - 361,973 Replacement 268,229 - 268,229 Sales, local use 16,680,169 - 16,680,169 Utility 4,900,869 - 4,900,869 Hotel/motel 940,008 - 940,008 Income 692,659 - 692,659 Other 128,450 - 128,450 Investment income 47,363 6,082 53,445 Miscellaneous 27,107 - 27,107 Total 24,046,827 6,082 24,052,909 CHANGE IN NET POSITION 1,696,480 946,950 2,643,430 NET POSITION,JANUARY 1 79,250,586 30,253,850 109,504,436 NET POSITION,DECEMBER 31 $ 80,947,066 $ 31,200,800 $ 112,147,866 See accompanying notes to financial statements. - 6 - VILLAGE OF OAK BROOK,ILLINOIS GOVERNMENTAL FUNDS BALANCESHEET December 31,2012 Nonmaj or Governmental Total General Infrastructure Funds Governmental ASSETS .a Cash and investments $ 11,573,014 $ 3,376,337 $ 3,831,628 $ 18,780,979 Receivables Sales taxes 3,404,556 1,585,886 - 4,990,442 Utility taxes 835,669 - - 835,669 Accounts 389,474 - - 389,474 Allotments - - 16,318 16,318 Accrued interest 38,823 716 1,799 41,338 Other 282,127 574,518 102,579 959,224 ' Advances to other funds 2,545,898 - - 2,545,898 TOTAL ASSETS $ 19,069,561 $ 5,537,457 $ 3,952,324 $ 28,559,342 LIABILITIES AND FUND BALANCES h LIABILITIES Accounts payable $ 462,626 $ 57,518 $ 27,841 $ 547,985 Accrued payroll 331,726 30,622 - 362,348 Deposits payable 667,504 - - 667,504 .., Unearned revenue 64,748 50,673 - 115,421 Total liabilities 1,526,604 138,813 27,841 1,693,258 FUND BALANCES Nonspendable r Advances 2,545,898 - - 2,545,898 Restricted Infrastructure - 5,398,644 - 5,398,644 Highways and streets - - 694,118 694,118 4k Public safety - - 233,204 233,204 Culture and recreation - - 2,775,235 2,775,235 Economic development - - 221,926 221,926 Unrestricted Committed Employee retirement contributions 224,878 - - 224,878 Unassigned .n General Fund 14,772,181 - - 14,772,181 Total fund balances 17,542,957 5,398,644 3,924,483 26,866,084 .` TOTAL LIABILITIES AND FUND BALANCES $ 19,069,561 $ 5,537,457 $ 3,952,324 $ 28,559,342 See accompanying notes to financial statements. - 7 - L VILLAGE OF OAK BROOK, ILLINOIS ? RECONCILIATION OF FUND BALANCES OF GOVERNMENTAL FUNDS TO THE L GOVERNMENTAL ACTIVITIES IN THE STATEMENT OF NET POSITION LDecember 31, 2012 L FUND BALANCES OF GOVERNMENTAL FUNDS $ 26,866,084 i Amounts reported for governmental activities in the statement of net position are different because: �. Capital assets used in governmental activities, excluding the internal service fund capital assets below, are not financial resources and, therefore, are not reported in the governmental funds 57,910,163 Interest payable is not due and payable in the current period and, therefore, is not reported in the governmental funds (140,727) L Long-term liabilities are not due and payable in the current period and, therefore, are not reported in the governmental funds Installment contracts payable (1,335,000) Notes payable (5,558,930) Compensated absences payable (997,394) Net pension obligation (358,846) �. Net other postemployment benefit obligation (125,358) A portion of the net position of the internal service funds are included in the governmental activities in the statement of net position Capital assets 2,512,315 Other net position 2,174,759 NET POSITION OF GOVERNMENTAL ACTIVITIES $ 80,947,066 am ti. See accompanying notes to financial statements. - 8 - VILLAGE OF OAK BROOK,ILLINOIS GOVERNMENTAL FUNDS STATEMENT OF REVENUES,EXPENDITURES AND a CHANGES IN FUND BALANCES For the Year Ended December 31,2012 Nonmajor Total Governmental Governmental General Infrastructure Funds Funds v REVENUES ` Intergovernmental $ 12,387,361 $ - $ 780,946 $ 13,168,307 Non-home rule sales tax - 5,230,137 - 5,230,137 Utility taxes 4,900,869 - - 4,900,869 Hotel/motel taxes - - 940,008 940,008 Licenses and permits 1,201,998 - - 1,201,998 Charges for services 970,778 - - 970,778 Fines and penalties 231,865 - - 231,865 Investment income 31,430 9,256 6,677 47,363 i Miscellaneous 350,168 5,380 - 355,548 Total revenues 20,074,469 5,244,773 1,727,631 27,046,873 EXPENDITURES Current General government 3,595,058 - 5,003 3,600,061 Public safety 12,900,045 - 86,685 12,986,730 Public works 496,895 4,209,836 - 4,706,731 Culture and recreation 896,889 - 741,974 1,638,863 Capital outlay 607,097 - - 607,097 Debt service Principal 250,000 1,501,163 91,000 1,842,163 Interest and fiscal charges 45,003 - 330,039 375,042 Total expenditures 18,790,987 5,710,999 1,254,701 25,756,687 EXCESS(DEFICIENCY)OF REVENUES OVER EXPENDITURES 1,283,482 (466,226) 472,930 1,290,186 OTHER FINANCING SOURCES (USES) Transfers in 275,000 - - 275,000 Total other financing sources(uses) 275,000 - - 275,000 NET CHANGE 1N FUND BALANCES 1,558,482 (466,226) 472,930 1,565,186 FUND BALANCES,JANUARY 1 15,984,475 5,864,870 3,451,553 25,300,898 FUND BALANCES,DECEMBER 31 $ 17,542,957 $ 5,398,644 $ 3,924,483 $ 26,866,084 See accompanying notes to financial statements. - 9 - VILLAGE OF OAK BROOK, ILLINOIS RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES, s EXPENDITURES AND CHANGES IN FUND BALANCES TO THE GOVERNMENTAL ACTIVITIES IN THE STATEMENT OF ACTIVITIES For the Year Ended December 31, 2012 I i.. NET CHANGE IN FUND BALANCES - TOTAL GOVERNMENTAL FUNDS $ 1,565,186 Amounts reported for governmental activities in the statement of activities are different because: Governmental funds report capital outlays as expenditures; however, they are capitalized and depreciated in the statement of activities 412,719 The repayment of long-term debt is reported as an expenditure when due in governmental funds but as a reduction of principal outstanding in the statement of activities 1,842,163 Some expenses in the statement of activities do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds Depreciation, including internal service funds (1,776,928) Change in compensated absences (13,606) :r Change in interest payable 3,114 Change in net pension obligation (60,110) Change in net postemployment benefits obligation (50,282) The change in net position of certain activities of internal service funds, excluding depreciation, is included in governmental activities (225,776) CHANGES IN NET POSITION OF GOVERNMENTAL ACTIVITIES $ 1,696,480 �- See accompanying notes to financial statements. - 10 - VILLAGE OF OAK BROOK,ILLINOIS PROPRIETARY FUNDS STATEMENT OF NET POSITION - December 31,2012 Business-Type Activities Waterworks Internal System Sports Core Total Service CURRENT ASSETS ~ Cash and investments $ 2,886,549 $ 185,079 $ 3,071,628 $ 3,338,878 Receivables Billed and unbilled water sales 553,365 - 553,365 - Accrued interest 8,404 13 8,417 6,708 Other 7,149 103,901 111,050 53,830 ` Inventories - 138,394 138,394 48,509 Prepaid expenses - - - 18,166 Total current assets 3,455,467 427,387 3,882,854 3,466,091 CAPITAL ASSETS ..� Nondepreciable 215,800 8,076,466 8,292,266 - Depreciable,net of accumulated depreciation 17,493,170 4,335,513 21,828,683 2,512,315 Total capital assets 17,708,970 12,411,979 30,120,949 2,512,315 + Total assets 21,164,437 12,839,366 34,003,803 5,978,406 CURRENT LIABILITIES Accounts payable 338,785 29,394 368,179 520,006 Accrued payroll 27,890 15,456 43,346 8,216 Compensated absences payable 45,563 44,542 90,105 13,069 Deposits - 92,348 92,348 - "l Unearned revenue - 24,425 24,425 42,936 `I Note payable 168,837 - 168,837 - Claims payable - - - 176,970 Total current liabilities 581,075 206,165 787,240 761,197 LONG-TERM LIABILITIES Advances from other funds - 2,545,898 2,545,898 - Total long-term liabilities - 2,545,898 2,545,898 - Total liabilities 581,075 2,752,063 3,333,138 761,197 .... NET POSITION Net investment in capital assets 17,540,133 12,411,979 29,952,112 2,512,315 Unrestricted 3,043,229 (2,324,676) 718,553 2,704,894 TOTAL NET POSITION $ 20,583,362 $ 10,087,303 30,670,665 $ 5,217,209 Adjustment to reflect the consolidation of internal service fund activities related to enterprise funds 530,135 TOTAL NET POSITION OF BUSINESS-TYPE ACTIVITIES $ 31,200,800 -• + See accompanying notes to financial statements. - 11 - 'r VILLAGE OF OAK BROOK,ILLINOIS PROPRIETARY FUNDS STATEMENT OF REVENUES,EXPENSES AND CHANGES IN NET POSITION For the Year Ended December 31,2012 Business-Type Activities Waterworks Internal System Sports Core Total Service OPERATING REVENUES Charges for services $ 6,768,025 $ 3,178,211 $ 9,946,236 $ 3,631,858 Total operating revenues 6,768,025 3,178,211 9,946,236 3,631,858 OPERATING EXPENSES Operations 5,127,796 2,980,174 8,107,970 690,521 Claims and insurance - - - 3,104,327 s Miscellaneous - - - 5,064 Depreciation and amortization 543,348 272,674 816,022 381,473 Total operating expenses 5,671,144 3,252,848 8,923,992 4,181,385 OPERATING INCOME(LOSS) 1,096,881 (74,637) 1,022,244 (549,527) NONOPERATING REVENUES(EXPENSES) Investment income 5,609 473 6,082 11,356 Grants - 3,525 3,525 - �* Miscellaneous income - - - 2,238 Gain(loss)on sale of capital assets (10,577) 63,301 52,724 71,058 Interest expense - (4,999) (4,999) - Total nonoperating revenues(expenses) (4,968) 62,300 57,332 84,652 INCOME(LOSS)BEFORE TRANSFERS 1,091,913 (12,337) 1,079,576 (464,875) TRANSFERS(OUT) - - - (275,000) ' CHANGE IN NET POSITION 1,091,913 (12,337) 1,079,576 (739,875) NET POSITION,JANUARY 1 19,491,449 10,099,640 5,957,084 %W NET POSITION,DECEMBER 31 $ 20,583,362 $ 10,087,303 $ 5,217,209 Adjustment to reflect the consolidation of internal service fund activities related to enterprise funds (132,626) WOW CHANGE IN NET POSITION OF BUSINESS-TYPE ACTIVITIES $ 946,950 r.. See accompanying notes to financial statements. �- - 12 - M" VILLAGE OF OAK BROOK,ILLINOIS PROPRIETARY FUNDS STATEMENT OF CASH FLOWS r For the Year Ended December 31,2012 1 Business-Type Activities Waterworks Internal System Sports Core Total Service CASH FLOWS FROM OPERATING ACTIVITIES Receipts from internal services transactions $ - $ - $ - $ 2,757,883 Receipts from customers and users 6,733,923 3,121,917 9,855,840 852,124 Payments to suppliers (4,384,076) (1,433,153) (5,817,229) (3,217,281) Payments to employees (738,238) (1,546,658) (2,284,896) (231,399) Net cash from operating activities 1,611,609 142,106 1,753,715 161,327 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES r Miscellaneous nonoperating receipts - - - 2,238 Receipt of interfund loan - 458,898 458,898 (275,000) Receipt of grant proceeds - 3,525 3,525 - _ Net cash from noncapital financing activities - 462,423 462,423 (272,762) CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Purchase of capital assets (1,717,579) (440,230) (2,157,809) (1,021,167) Proceeds from sale of capital assets - 68,596 68,596 76,943 •. Principal paid on installment contract payable (168,837) (125,000) (293,837) - Interest paid - (5,339) (5,339) - "1 Net cash from capital and related financing activities (1,886,416) (501,973) (2,388,389) (944,224) CASH FLOWS FROM INVESTING ACTIVITIES Purchase of investments (583,747) (57,432) (641,179) (1,106,263) Sale of investments - - - - Interest received (2,795) 460 (2,335) 4,649 Net cash from investing activities (586,542) (56,972) (643,514) (1,101,614) NET INCREASE(DECREASE)IN CASH AND .� CASH EQUIVALENTS (861,349) 45,584 (815,765) (2,157,273) CASH AND CASH EQUIVALENTS, r JANUARY 1 2,251,021 911 2,251,932 3,661,060 CASH AND CASH EQUIVALENTS, DECEMBER 31 $ 1,389,672 $ 46,495 $ 1,436,167 $ 1,503,787 ..r (This statement is continued on the following page.) - 13 - LVILLAGE OF OAK BROOK,ILLINOIS PROPRIETARY FUNDS L STATEMENT OF CASH FLOWS(Continued) LFor the Year Ended December 31,2012 LBusiness-Type Activities Waterworks Internal System Sports Core Total Service Lr CASH AND INVESTMENTS Cash and cash equivalents $ 1,389,672 $ 46,495 $ 1,436,167 $ 1,503,787 Investments 1,496,877 138,584 1,63 5,461 1,83 5,091 *"' TOTAL CASH AND INVESTMENTS $ 2,886,549 $ 185,079 $ 3,071,628 $ 3,338,878 RECONCILIATION OF OPERATING INCOME(LOSS) TO NET CASH FLOWS FROM OPERATING ACTIVITIES Operating income(loss) $ 1,096,881 $ (74,637) $ 1,022,244 $ (549,527) Depreciation and amortization 543,348 272,674 816,022 381,473 1 Adjustments to reconcile operating income(loss) �s to net cash from operating activities Changes in assets and liabilities Accounts receivable (28,276) - (28,276) (20,129) Other receivable (5,826) (59,666) (65,492) - Inventories - (5,230) (5,230) (367) Accounts payable - 5,095 5,095 278,828 1 Accrued payroll and compensated absences 5,482 498 5,980 (1,220) taw Deposits payable - 9,530 9,530 - Unearned revenue - (6,158) (6,158) 1,799 Claims payable - - - 70,470 t•. NET CASH FROM OPERATING ACTIVITIES $ 1,611,609 $ 142,106 $ 1,753,715 $ 161,327 6w { t See accompanying notes to financial statements. - 14 - VILLAGE OF OAK BROOK, ILLINOIS STATEMENT OF FIDUCIARY NET POSITION December 31, 2012 dft ASSETS Cash $ 294,595 _ Investments Illinois Funds 167,990 Money market mutual funds 2,209,154 •. U.S. Treasury securities 1,955,337 U.S. agency securities 13,098,565 State and local obligations 2,837,916 Corporate bonds 6,516,274 Mutual funds 24,095,918 Equities 1,791,513 Accrued interest receivable 212,101 Total assets 53,179,363 LIABILITIES — Accounts payable 24,968 Total liabilities 24,968 NET POSITION HELD IN TRUST FOR PENSION BENEFITS $ 53,154,395 See accompanying notes to financial statements. - 15 - VILLAGE OF OAK BROOK, ILLINOIS L STATEMENT OF CHANGES IN FIDUCIARY NET POSITION For the Year Ended December 31, 2012 r.. ftw ADDITIONS Contributions Employer $ 1,978,895 Employee 745,473 Other 3,126 r Total contributions 2,727,494 Investment income Net appreciation in fair value of investments 2,397,360 Interest 2,069,512 Total investment income 4,466,872 Less investment expense (146,625) Net investment income 4,320,247 Total additions 7,047,741 DEDUCTIONS �- Benefits and refunds 3,899,905 Administrative 71,596 Total deductions 3,971,501 t NET INCREASE 3,076,240 } NET POSITION HELD IN TRUST FOR PENSION BENEFITS January 1 50,078,155 December 31 $ 53,154,395 See accompanying notes to financial statements.. - 16 - (This page is intentionally left blank.) ` VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS December 31, 2012 .. 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements of the Village of Oak Brook, Illinois (the Village)have been prepared in conformity with accounting principles generally accepted in the United States of America(hereinafter referred to as generally accepted accounting principles (GAAP)), +- as applied to government units. The Governmental Accounting Standards Board(GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. The more significant of the Village's accounting policies are described below. a. Reporting Entity The Village operates under a village form of government with an elected Village President and Board of Trustees. Operational management is provided by a professional Village Manager employed by the Board of Trustees. Municipal services include police protection, fire protection, recreation facilities, a free public a. library, water supply, storm water collection, public works operations,road maintenance, building and inspectional services and general administrative services. As required by generally accepted accounting principles,these financial statements present the Village (the primary government). There are no component units. The Village's financial statements include the following pension trust funds: Police Pension Employees Retirement System �-- The Village's police employees participate in the Police Pension Employees Retirement System (PPERS). PPERS functions for the benefit of these employees and is governed by its pension board. The Village and PPERS participants are `-- obligated to fund all PPERS costs based upon actuarial valuations. The State of Illinois is authorized to establish benefit levels and the Village is authorized to approve the actuarial assumptions used in the determination of contribution levels. Although it possesses many of the characteristics of a legally separate government, PPERS is reported as if it were part of the primary government because its sole purpose is to finance and administer the pensions of the Village's police employees and because of the fiduciary nature of such activities. PPERS is reported as a pension trust fund. - 17 - .m VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) Inn 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) a. Reporting Entity(Continued) Firefighters' Pension Employees Retirement System The Villages firefighters participate in the Firefighters Pension Employees Retirement System (FPERS). FPERS functions for the benefit of these employees and is governed by its pension board. The Village and FPERS participants are obligated to fund all FPERS costs based upon actuarial valuations. The State of Illinois is authorized to establish benefit levels and the Village is authorized to approve the actuarial assumptions used in the determination of contribution levels. Although it possesses many of the characteristics of a legally separate government, FPERS is reported as if it were part of the primary government because its sole purpose is to finance and administer the pensions of the Village's firefighters and because of the fiduciary nature of such activities. FPERS is reported as a pension trust fund. b. Fund Accounting -� The Village uses funds to report on its financial position, changes in its financial position and cash flows. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain government functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts. The minimum number of funds is maintained consistent with legal and managerial requirements. Funds are classified into the following categories: governmental, proprietary and fiduciary. Governmental funds are used to account for all or most of a government's general activities. Special revenue funds are used to account for and report the proceeds of specific revenue sources that are restricted or committed to expenditure for specified purposes other than debt service or capital projects. Capital project funds are used to account for and report financial resources that are restricted, committed, or assigned to expenditure for capital outlays, including the acquisition or construction of capital facilities and other capital assets. Debt service funds are used to account for and report financial resources that are restricted, committed, or assigned to expenditure for principal and interest. The General Fund is used to account for and report all -- financial resources not accounted for and reported in another fund. - 18 - L VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) L 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) b. Fund Accounting (Continued) Proprietary funds are used to account for activities similar to those found in the private sector, where the determination of net income is necessary or useful for sound ., financial administration. Goods or services from such activities can be provided either to outside parties (enterprise funds) or to other departments or agencies primarily within the government(internal service funds). Fiduciary funds are used to account for assets held on behalf of outside parties, including other governments, or on behalf of other funds within the government. The Village utilizes pension trust funds which are generally used to account for assets that the Village holds in a fiduciary capacity. C. Government-Wide and Fund Financial Statements The government-wide financial statements (i.e.,the statement of net position and the statement of activities)report information on all of the nonfiduciary activities of the Village. The effect of material interfund activity has been eliminated from these statements. Interfund services provided and used are not eliminated on these statements. Governmental activities,which normally are supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant extent on fees and charges for support. The statement of activities demonstrates the degree to which the direct expenses of a ,., given function, segment or program are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include (1) charges to customers or applicants who purchase,use or directly +'- benefit from goods, services or privileges provided by a given function or segment, and (2)grants and standard revenues that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly .w included among program revenues are reported instead as general revenues. Separate financial statements are provided for governmental funds,proprietary funds and fiduciary funds, even though the latter are excluded from the government-wide financial statements. Major individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements. - 19 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) r 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) C. Government-Wide and Fund Financial Statements (Continued) The Village reports the following major governmental funds: The General Fund is the Village's primary operating fund. It accounts for all financial resources of the general government, except those accounted for in another fund. The Infrastructure Fund, a capital projects fund, is used to account for revenues restricted for and expenditures relative to the construction and maintenance of roadway, drainage and bike trail improvements. The Village reports the following major enterprise funds: The Waterworks System Fund accounts for the revenues and expenses relative to -• the operation of the water utility. The Sports Core Fund accounts for the revenues and expenses relative to the —� operation of the Oak Brook Sports Core. Additionally,the Village reports the following internal service funds: Internal Service Funds account for the Village's self-insured employee health and dental insurance program;the operation and maintenance of the Village's vehicle fleet equipment, and the Village's capital replacement program provided to other departments or agencies of the Village on a cost reimbursement basis. The Village reports the following fiduciary funds: The Village reports pension trust funds as fiduciary funds to account for the Police Pension Fund and Firefighters' Pension Fund. d. Measurement Focus,Basis of Accounting and Financial Statement Presentation The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary funds and fiduciary funds fund financial statements. Revenues and additions are recorded when earned and expenses and deductions are recorded when a liability is incurred. Grants -� and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. Operating revenues/expenses include all revenues/expenses directly related to providing enterprise fund services. Incidental revenues/expenses are reported as nonoperating. - 20 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) d. Measurement Focus,Basis of Accounting and Financial Statement Presentation faw (Continued) Governmental fund financial statements are reported using the current financial �.. resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon �- enough thereafter to pay liabilities of the current period. The Village considers revenues to be available if they are collected within 60 days of the end of the current fiscal period, except for sales taxes and telecommunication taxes which use a 90-day period and income taxes a 120-day period. Expenditures generally are recorded when a fund liability is incurred. However, debt service expenditures are recorded only when payment is due by the end of the year. Those revenues susceptible to accrual are sales taxes, certain taxes collected and held by the State at year end on behalf of the Village, certain charges for services and interest. Permit revenues are not susceptible to accrual because generally they are not measurable until received in cash. The Village reports unavailable revenue on its financial statements as a deferred inflow of resources. Unavailable revenues arise when a potential revenue does not meet both the measurable and available criteria for recognition in the current period. Unearned revenues arise when resources are received by the Village before it has a legal claim to them, as when grant monies are received prior to the incurrence of qualifying expenditures. In subsequent periods, when both revenue recognition criteria are met or when the Village has a legal claim to the resources,the deferred inflow for unavailable revenue or liability for unearned revenue is removed from the �-- financial statements and revenue is recognized. There were no deferred inflows for unavailable revenues at December 31, 2012. .� In applying the susceptible to accrual concept to intergovernmental revenues (i.e., federal and state grants), the legal and contractual requirements of the numerous individual programs are used as guidance. There are, however, essentially two types of these revenues. In one, monies must be expended on the specific purpose or project before any amounts will be paid to the Village; therefore, revenues are recognized based upon the expenditures/expenses incurred. In the other, monies are virtually unrestricted as to purpose of expenditure/expense and are generally revocable only for failure to comply with prescribed eligibility requirements. These resources are reflected as revenues at the time of receipt or earlier if they meet the eligibility criterion. - 21 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) e. Cash and Investments Cash and Cash Equivalents For purposes of the statement of cash flows, the Village's proprietary funds consider all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Investments In accordance with Governmental Accounting Standards Board Statement No. 31, Accounting and Financial Reporting for Certain Investments and for External Investment Pools, nonnegotiable certificates of deposit and investments with maturity of less than one year at date of purchase, if any, are stated at amortized cost. All other investments are stated at fair value. Fair value is based on quoted market prices for the same or similar investments. All investments of the pension trust funds are stated at fair value. f. Inventories -• Inventories are valued at average cost, not in excess of replacement cost. Inventories in the General Fund and Garage Fund consist of expendable supplies held for consumption; inventories in the Sports Core Fund consist of inventory held for resale. The cost is recorded as an expenditure at the time individual inventory items are utilized or sold. General Fund inventories are equally offset by nonspendable fund balance which indicates that they do not constitute "available spendable resources" even though they are a component of net current assets. g. Prepaid Items/Expenses Payments made to vendors for services that will benefit periods beyond the date of this •.. report are recorded as prepaid items/expenses in both the government-wide and fund financial statements. The cost of prepaid items/expenses is recorded as expenditures/expenses when consumed rather than when purchased. h. Capital Assets Capital assets,which include property,plant, equipment and infrastructure assets (e.g., roads,bridges, sidewalks and similar items), are reported in the applicable governmental or business-type activities columns in the government-wide financial .. statements. Capital assets are defined by the Village as assets with an initial, individual cost of$5,000 or more and an estimated useful life in excess of one year. - 22 - _ VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) ir.. 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) h. Capital Assets (Continued) Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at estimated fair market value at the date of donation. Infrastructure acquired prior to the implementation of GASB Statement No. 34 is reported on the financial statements. The costs of normal maintenance and repairs, including street overlays that do not add to the value of the asset or materially extend asset lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest incurred during the construction phase of capital assets of business-type activities is included as part of the capitalized value of the assets constructed. Property,plant and equipment is depreciated using the straight-line method over the following estimated useful lives: Assets Years Land improvements 20 Buildings and building improvements 5 - 50 Equipment 5 -20 Vehicles 2 -20 Infrastructure 20 - 75 i. Compensated Absences Vested or accumulated vacation, sick or compensatory leave including related social security and medicare of proprietary funds and governmental activities is recorded as an expense and liability of those funds as the benefits accrue to employees. In accordance with the provisions of Governmental Accounting Standards Board Statement No.16,Accounting for Compensated Absences, no liability is recorded for nonvesting accumulating rights to receive sick pay benefits. However, a liability is recognized for that portion of accumulating sick leave benefits that it is estimated will be taken as a termination benefit at retirement. j. Interfund Transactions Interfund services are accounted for as revenues, expenditures or expenses. Transactions that constitute reimbursements to a fund for expenditures/expenses initially made from it that are properly applicable to another fund, are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/expenses in the fund that is reimbursed. All other interfund transactions, except interfund services transactions and reimbursements, are reported as transfers. - 23 - .. VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) k. Interfund Receivables/Payables Activity between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year are referred to as either"due to/from other -- funds"(i.e.,the current portion of interfund loans) or"advances to/from other funds" (i.e., the noncurrent portion of interfund loans). All other outstanding balances between funds are reported as "due to/from other funds." -• Advances between funds, as reported in the fund financial statements, are offset by nonspendable fund balance in applicable governmental funds to indicate that they are not available for appropriation and are not expendable available financial resources. 1. Long-Term Obligations In the government-wide financial statements and proprietary funds in the fund financial statements, long-term debt and other long-term obligations are reported as liabilities in the applicable governmental activities, business-type activities or proprietary fund financial statements. Bond premiums and discounts, are deferred and amortized over the life of the bonds. Bonds payable are reported net of the applicable bond premium or discount. In the fund financial statements,governmental funds recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs,whether or not withheld from the actual debt proceeds received, are reported as expenditures. r in. Fund Balance/Net Position In the fund financial statements, governmental funds report nonspendable fund balance for amounts that are either not in spendable form or legally or contractually required to be maintained intact. Restrictions of fund balance are reported for amounts constrained by legal restrictions from outside parties for use for a specific -- purpose or externally imposed by outside entities. None of the restricted fund balance result from enabling legislation adopted by the Village. Committed fund balance is constrained by formal actions of the Village's Board, which is considered the Village's highest level of decision making authority. Formal actions include ordinances approved by the Board. Assigned fund balance represents amounts constrained by the Village's intent to use them for a specific purpose. The authority •. to assign fund balance has been delegated to the Village's finance director through the approved fund balance policy of the Village. Any residual fund balance of the General Fund is reported as unassigned. - 24 - 1 VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) L 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) in. Fund Balance/Net Position (Continued) The Village's flow of funds assumption prescribes that the funds with the highest level of constraint are expended first. If restricted or unrestricted funds are available for spending, the restricted funds are spent first. Additionally, if different levels of unrestricted funds are available for spending the Village considers committed funds to be expended first followed by assigned and then unassigned funds. The Village has established fund balance policies for their governmental funds. It is the policy of the Village that every effort be made to maintain the greater of. (a) an uncommitted cash balance equal to six months of budgeted operating expenditures for the forthcoming fiscal year, exclusive of budgeted capital projects and one time significant items. In the government-wide financial statements, restricted net position is legally restricted by outside parties for a specific purpose. Net investment in capital assets, represents the Village's investment in the book value of capital assets, less any outstanding debt that was issued to construct or acquire the capital asset. n. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets, deferred outflows, liabilities and deferred ... inflows and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenditures/expenses during the reporting period. Actual results could differ from those estimates. 2. DEPOSITS AND INVESTMENTS low The Village maintains a cash and investment pool that is available for use by all funds, except the pension trust funds and the Foreign Fire Insurance Tax Fund. Separately held cash and investments for the Foreign Fire Insurance Tax Fund as well as each fund's portion of this pool is included on the statement of net position as "cash and investments." The deposits and investments of the pension trust funds are held separately from those of other funds. - 25 - am VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) am 2. DEPOSITS AND INVESTMENTS (Continued) Permitted Deposits and Investments -The Village's investment policy allows for deposits/investments in insured commercial banks, savings and loan institutions, obligations of the U.S. Treasury and U.S. agencies, insured credit union shares,money market mutual funds with portfolios of securities issued or guaranteed by the United States or agreement to repurchase these same obligations,repurchase agreements, short-term commercial paper rated within the three highest classifications by at least two standard rating services, corporate bonds, Illinois Funds (created by the Illinois State Legislature under the control of the State Comptroller that maintains a $1 per share value which is equal to the participants fair value) and the Illinois Metropolitan Investment Fund (INET), a not-for-profit investment trust formed pursuant to the Illinois Municipal Code and managed by a Board of Trustees elected from the participating members. IMET is not registered with the SEC as an investment company. Investments in IMET are valued at IMET's share price, the price for which the investment could be sold. The Police Pension Fund and Firefighters' Pension -� Fund may also invest in certain non-U.S. obligations, Illinois municipal corporations tax anticipation warrants,veteran's loans, obligations of the State of Illinois and its political subdivisions, corporate bonds, insurance company general and separate accounts,mutual funds and equity securities. a. Deposits It is the policy of the Village to invest its funds in a manner which will provide the highest investment return with the maximum security while meeting the daily cash -� flow demands of the Village and conforming to all state and local statutes governing the investment of public funds, using the "prudent person" standard for managing the overall portfolio. The primary objective of the policy is legality, safety(preservation -� of capital and protection of investment principal), liquidity and yield. Village Deposits with Financial Institutions Custodial credit risk for deposits with financial institutions is the risk that in the event of a bank's failure, the Village's deposits may not be returned to it. The Village's investment policy requires pledging of collateral with a fair value of 110% of all bank balances in excess of federal depository insurance with the collateral held by an agent of the Village in the Village's name. As of December 31, 2012, the -• Village had no uninsured or uncollateralized deposits. Police and Firefighters' Pension Funds Deposits with Financial Institutions Custodial credit risk for deposits with financial institutions is the risk that in the event of a bank's failure, the Police and Firefighters' Pension Funds' deposits may .. not be returned to them. The Police and Firefighters' Pension Funds' investment policies require pledging of collateral with a fair value of 110% of all bank balances in excess of federal depository insurance with the collateral held by an agent of the Police and Firefighters' Pension Funds in the Police and Firefighters' Pension Funds' name. - 26 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 1.. 2. DEPOSITS AND INVESTMENTS (Continued) b. Investments As of December 31,2012,the Village had the following investments and maturities in debt securities. Investment Maturities(in Years) Fair Less More 3.. Value Than 1 1-5 6-10 Than 10 IMET $ 9,972,611 $ - $ 9,972,611 $ - $ - State and local ►- obligations 2,708,398 509,460 2,198,938 - - Corporate bonds 1,513,165 1,513,165 - - - TOTAL $ 14,194,174 $ 2,022,625 $ 12,171,549 $ - $ - As of December 31,2012,the Police Pension Fund had the following investments and maturities in debt securities. Investment Maturities(in Years) Fair Less More Value Than 1 1-5 6-10 Than 10 U.S.agencies $ 7,454,349 $ - $ 2,773,019 $ 2,889,528 $ 1,791,802 U.S.Treasuries 1,553,513 - 1,553,513 - - State and local obligations 1,669,810 - 722,382 721,601 225,827 Corporate bonds 3,558,087 3,558,087 - - - TOTAL $ 14,235,759 $ 3,558,087 $ 5,048,914 $ 3,611,129 $ 2,017,629 As of December 31, 2012,the Firefighters' Pension Fund had the following investments and maturities in debt securities. .� Investment Maturities(in Years) Fair Less More Value Than 1 1-5 6-10 Than 10 �- U.S.agencies $ 5,644,216 $ 417,242 $ 1,639,482 $ 3,335,166 $ 252,326 U.S.Treasuries 401,824 - 349,806 52,018 - State and local ... obligations 1,168,106 - 317,487 513,413 337,206 TOTAL $ 7,214,146 $ 417,242 $ 2,306,775 $ 3,900,597 $ 589,532 L.. - 27 - .. VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 2. DEPOSITS AND INVESTMENTS (Continued) b. Investments (Continued) ^— GASB 40 - Operating Funds In accordance with its investment policy, the Village limits its exposure to interest rate risk by structuring the portfolio to remain sufficiently liquid to enable the Village to meet all operating requirements which may be reasonably anticipated in any Village fund. Maturities of investments in all funds covered by this policy shall not exceed five years, unless a temporary extension of maturities is approved by the Board of Trustees. The Village limits its exposure to credit risk, which is the risk that the issuer of a debt security will not pay its par value upon maturity. This is done primarily by investing in securities issued by the United States Government, securities issued by agencies of the United States Government, which are implicitly guaranteed by the United States Government, or corporate bonds rated within the three highest classifications by at least two standard rating services. Investments in corporate bonds are rated Aaa. Investments in state and local obligations are rated AAA. Illinois Funds and IMET are both AAA rated funds. In order to limit the exposure to concentration of credit risk, the Village's investment policy limits investments in any one financial institution to 25%, exclusive of securities guaranteed by the full faith and credit of the United States Government or obligations of agencies of the United States Government. At December 31, 2012,the Village had greater than 5% of its overall portfolio invested in Illinois Funds (27.82%), IMET(42.01%), State and Local obligations (11.41%), Corporate Bonds (6.37%), and CDs (12.39%). The investment policy does not include any limitations as to how much the Village may hold in these types of securities. The Village limits its exposure to custodial credit risk by utilizing an independent, third party institution, selected by the Village, to act as custodian for its securities and collateral. For an investment, custodial risk is the risk that, in the event of the failure of the counterparty, the Village will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. GASB 40 - Police Pension Fund State statutes as well as the investment policy of the Police Pension Fund provide that the fund may invest up to 45% of the investment portfolio in equity mutual funds and the remaining 55% of the portfolio in fixed income securities. The Police Pension Fund has hired independent investment managers, to advise and to manage both the fixed income and equity mutual fund portfolios. - 28 - _ 1 VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 2. DEPOSITS AND INVESTMENTS (Continued) b. Investments (Continued) GASB 40 - Police Pension Fund (Continued) The Police Pension Fund strives to limit its exposure to credit risk, which is the risk that the issuer of a debt security will not pay the par value upon maturity. This is controlled by primarily investing in securities issued by the United States Government, securities issued by agencies of the United States Government that carry an implicit guarantee, high quality state or local obligations or corporate bonds rated within the three highest classifications by at least two standard rating services. United States Government and agency securities are considered to be AAA rated and are generally considered free of credit risk due to the stability of the United States Government. Investments in state and local obligations are considered to be AAA .- rated. Investments in corporate bonds are rated A-to A. At December 31, 2012, the Police Pension Fund had greater than 5% of its fixed income portfolio invested in obligations of the Federal Home Bank(18.80%), State and Local Obligations (5.65%), U.S. Treasury Notes (5.26%) and Corporate Bonds (12.05%). The investment policy does not include any limitations on how much U.S. Treasury or agency securities can be held in the portfolio. The Police Pension Fund invests up to 40% of its investments in equity mutual _ funds. The Police Pension Fund's investment policy defines the strategy in which the Police Pension Board follows for the equity investments. The Police Pension Fund diversifies its equity holdings by owning several different mutual funds allocated among the following asset classes subject to the percentage limitations indicated: Normal Range of Allocation Allocation U.S. Large Cap Stocks(may include some Mid Cap Stocks) 60% +/- 20% U.S. Small Cap Stocks(may include some Mid Cap Stocks) 15% +/- 15% Foreign securities 15% +/- 15% Alternative investments (including real estate) 10% +/- 10% The Police Pension Fund limits its exposure to custodial risk by utilizing the Trust Department of MB Financial to act as custodian for its fixed income securities. For L an investment, custodial risk is the risk that, in the event of the failure of the counterparty, the Police Pension Fund will not be able to recover the value of its investments that are in the possession of an outside party. - 29 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 2. DEPOSITS AND INVESTMENTS (Continued) b. Investments (Continued) GASB 40 - Firefighters' Pension Fund State statutes as well as the investment policy of the Firefighters' Pension Fund provide that the fund may invest up to 45% of the investment portfolio in equity _ mutual funds and the remaining 55% of the portfolio in fixed income securities. The Firefighters' Pension Fund has hired a fund manager, MB Financial, to advise and manage the fixed income investments. For equity mutual fund investments,the Firefighters' Pension Fund utilizes the services of Merrill Lynch. The Firefighters' Pension Fund strives to limit its exposure to credit risk, which is the risk that the issuer of a debt security will not pay the par value upon maturity. This is controlled by primarily investing in securities issued by the United States Government, securities issued by agencies of the United States Government that ,.. carry an implicit guarantee, or high quality state or local obligations. U. S. agency securities are rated AAA. For investments in state and local obligations, 100% are considered to be AAA rated investments. Investments in corporate bonds are rated Aaa. At December 31, 2012, the Firefighters' Pension Fund had greater than 5% of its fixed income portfolio invested in obligations of the Federal Farm Credit Bank (10.21%), State and Local Obligations (5.05%), Federal Home Loan Bank(12.84%), and U.S. Agencies (12.79%). The investment policy does not include any limitations on how much U.S. Treasury or agency securities can be held in the portfolio. The Firefighters' Pension Fund invests up to 45% of its investments in equity mutual �- funds. The Firefighters' Pension Fund's investment policy defines the strategy in which the Firefighters' Pension Board follows for the equity investments. The Firefighters' Pension Fund diversifies its equity holdings by owning several different mutual funds allocated among the following asset classes subject to the percentage limitations indicated: i Normal Range of Allocation Allocation U.S. Large Cap Stocks 50% +/- 10% U.S. Mid Cap Stocks 20% +/- 10% U.S. Small Cap Company Stocks 15% +/- 10% Foreign stocks 10% +/- 5% Alternative investments (such as real estate mutual funds) 5% +/- 5% - 30 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 2. DEPOSITS AND INVESTMENTS (Continued) b. Investments (Continued) GASB 40 - Firefighters' Pension Fund (Continued) The Firefighters' Pension Fund limits its exposure to custodial risk by utilizing the Trust Department of MB Financial Bank to act as custodian for its fixed income and equity securities. For an investment, custodial risk is the risk that, in the event of the failure of the counterparty, the Firefighters' Pension Fund will not be able to recover the value of its investments that are in the possession of an outside party. 3. PROPERTY TAXES Property taxes for 2012 attach as an enforceable lien on January 1, 2012, on property values assessed as of the same date. Taxes are levied by December 31 of the fiscal year by passage of a Tax Levy Ordinance. Tax bills are prepared by the County and issued on or about May 1, 2012 and August 1, 2012 and are payable in two installments, on or about June 1, 2012 and September 1, 2012. The County collects such taxes and remits them periodically. The Village does not have a tax levy but does receive a share of road and bridge taxes from local townships, as well as incremental property taxes from the Butterfield/Myers Road Redevelopment Project Area(TIF). 4. RECEIVABLES The following receivables are included in other receivables on the statement of net position as of December 31, 2012: GOVERNMENTAL ACTIVITIES State income tax $ 189,001 " Hotel/motel tax 102,579 Intergovernmental 666,720 Reinsurance 49,602 �- Other miscellaneous 5,152 TOTAL GOVERNMENTAL ACTIVITIES $ 1,013,054 L BUSINESS-TYPE ACTIVITIES Members charges $ 14,627 �. Special events 19,805 Field rental 63,803 Other miscellaneous 12,815 TOTAL BUSINESS-TYPE ACTIVITIES $ 111,050 - 31 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) ... 5. CAPITAL ASSETS Capital asset activity for the year ended December 31, 2012 was as follows: Beginning Ending Balance Increases Decreases Balance _ GOVERNMENTAL ACTIVITIES Capital assets not being depreciated Land $ 616,829 $ - $ - $ 616,829 Land right of way 31,687,305 - - 31,687,305 Total capital assets not being depreciated 32,304,134 - - 32,304,134 Capital assets being depreciated �. Buildings,building and land improvements 19,072,800 291,967 - 19,364,767 Computer equipment 1,375,152 33,642 - 1,408,794 Other equipment 1,799,755 87,110 - 1,886,865 Vehicles 53,120 - - 53,120 Infrastructure 34,264,187 - - 34,264,187 Internal service fund vehicles 5,664,120 973,790 574,950 6,062,960 Total capital assets being depreciated 62,229,134 1,386,509 574,950 63,040,693 Less accumulated depreciation for Buildings,building and land improvements 6,107,014 456,196 - 6,563,210 Computer equipment 1,154,546 102,863 - 1,257,409 Other equipment 1,516,830 73,478 - 1,590,308 Vehicles 51,646 1,474 - 53,120 Infrastructure 21,146,213 761,444 - 21,907,657 Internal service fund vehicles 3,738,237 381,473 569,065 3,550,645 Total accumulated depreciation 33,714,486 1,776,928 569,065 34,922,349 Total capital assets being depreciated,net 28,514,648 (390,419) 5,885 28,118,344 GOVERNMENTAL ACTIVITIES CAPITAL ASSETS,NET $ 60,818,782 $ (390,419) $ 5,885 $ 60,422,478 - 32 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) E L 5. CAPITAL ASSETS (Continued) Beginning Ending Balance Increases Decreases Balance BUSINESS-TYPE ACTIVITIES Capital assets not being depreciated Land $ 8,292,266 $ - $ - $ 8,292,266 Construction in progress 64,342 - 64,342 - Total capital assets not being depreciated 8,356,608 - 64,342 8,292,266 �— Capital assets being depreciated Land improvements 2,925,482 15,363 - 2,940,845 Building and building improvements 5,788,834 66,502 5,623 5,849,713 Infrastructure 22,216,791 1,631,188 65,093 23,782,886 Vehicles,machinery and equipment 5,716,819 358,365 305,095 5,770,089 Total capital assets being depreciated 36,647,926 2,071,418 375,811 38,343,533 ;.. Less accumulated depreciation for Land improvements 2,212,887 66,248 - 2,279,135 Building and building improvements 2,569,805 120,539 328 2,690,016 Infrastructure 7,160,220 361,914 54,516 7,467,618 L— Vehicles,machinery and equipment 4,115,854 267,322 305,095 4,078,081 Total accumulated depreciation 16,058,766 816,023 359,939 16,514,850 Total capital assets being depreciated,net 20,589,160 1,255,395 15,872 21,828,683 BUSINESS-TYPE ACTIVITIES CAPITAL ASSETS,NET $ 28,945,768 $ 1,255,395 $ 80,214 $ 30,120,949 Depreciation expense was charged to functions of the primary government as follows: GOVERNMENTAL ACTIVITIES General government $ 444,727 Public safety 300,632 Public works 900,597 Culture and recreation 130,972 TOTAL DEPRECIATION EXPENSE- GOVERNMENTAL ACTIVITIES $ 1,776,928 - 33 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) .. 5. CAPITAL ASSETS (Continued) Construction Contracts The Village has entered into contracts for the construction or renovation of various facilities as of December 31,2012 as follows: Project Expended Unspent Budget To Date Balance 2011 ERP Paving Project $ 64,689 $ 56,155 $ 8,534 2012 Paving Construction 134,500 132,952 1,548 2012 Water Main Construction 139,444 112,356 27,088 2013 Paving Design 71,600 - 71,600 2013 Water Main Design 22,663 - 22,663 TOTAL $ 432,896 $ 301,463 $ 131,433 -� 6. RISK MANAGEMENT The Village is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets; errors and omissions; injuries to employees; illnesses of employees; and natural disasters. .. The Village participates in the Intergovernmental Risk Management Agency(IRMA) _ which is an organization of municipalities and special districts in Northeastern Illinois which have formed an association under the Illinois Intergovernmental Cooperation's Statute to pool its risk management needs. The Village pays annual premiums to IRMA for its workers' compensation, general liability and property coverage. The Village assumes the first$25,000 of each occurrence,with IRMA having a mix of self- insurance and commercial insurance at various amounts above that level. The Village appoints one delegate, along with an alternate delegate, to represent the Village on the Board of Directors. The Village does not exercise any control over the activities of IRMA beyond its representation on the Board of Directors. The Village, along with IRMA's other members, has a contractual obligation to fund any deficit of IRMA attributable to a membership year during which it was a member. Supplemental contributions may be required to fund these deficits. No such contributions have occurred during the past three years. - 34 - �J VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 6. RISK MANAGEMENT (Continued) In addition,the Village provides medical and dental coverage to village employees, their dependents, retirees and employees of the Oak Brook Park District through a limited self- insurance program. The Village is self-insured for the first$85,000 per individual for medical claims up to a maximum limit of$2,442,158 for all individuals. Commercial insurance is carried for amounts in excess of the self-insured amounts. Settlements did not exceed insurance coverage in any of the last three years. The Village is entirely self- insured for dental claims up to the annual benefit limit of$1,500 per individual. The ` Village's self-insurance activities are reported in the Self-Insurance Fund, an Internal Service Fund. Premiums are paid into the Self-Insurance Fund by the departments of the General Fund and other funds,retirees, the Oak Brook Park District and COBRA participants based upon — equivalent premium estimates. Liabilities are reported when it is probable that a loss has occurred and the amount of the loss can be reasonably estimated. Reported liabilities are estimated based on historical cost information and include an amount for claims that have been incurred but not reported. The total claim liability at year end was $176,970. A reconciliation of claims payable for the current year and that of the preceding year is as follows: 2012 2011 CLAIMS PAYABLE, BEGINNING OF YEAR $ 106,500 $ 118,930 Claims incurred and changes in estimate 2,434,731 2,103,243 Claims paid (2,364,261) (2,115,673) CLAIMS PAYABLE, END OF YEAR $ 176,970 $ 106,500 L L - 35 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 7. LONG-TERM DEBT Installment Contract Payable The Village has issued installment contracts payable to provide funds for the acquisition of capital assets. The installment contracts payable currently outstanding are as follows: Fund Debt Balance, Balance, Current Issue Retired by January 1 Issuances Retirements December 31 Portion General Fund Refunding Certificates,Series 2003 dated no June 1,2003,interest at 1.50%to 3.20%,due in annual installments ranging from$65,000 to $125,000 through December 1, am 2012,interest payable June 1 and December 1 of each year,secured Sports by sales and use taxes. Core $ 125,000 $ - $ 125,000 $ - $ - •" General Fund Refunding Certificates,Series 2009 dated July 15,2009,interest at 2.00%to 3.50%,due in annual installments •� ranging from$205,000 to $280,000 through December 1, 2017,interest payable June 1 and December 1 of each year,secured by sales and use taxes. General 1,585,000 - 250,000 1,335,000 255,000 TOTAL $ 1,710,000 $ - $ 375,000 $ 1,335,000 $ 255,000 — Notes Payable The Village has issued notes payable related to developer and intergovernmental agreements. The notes payable and installment contracts payable currently outstanding are as follows: Fund Debt Balance, Balance, Current Issue Retired by January 1 Issuances Retirements December 31 Portion .on Note payable to the Illinois Tollway for the Intergovernmental Agreement _ dated July 21,2009. Four Infrastructure $ 3,005,117 $ - $ 1,501,163 $ 1,503,954 $ 1,503,954 annual installments of $1,670,000 payable June 15 and a lump sum payment by Waterworks ,m June 15,2013. System 337,674 - 168,837 168,837 168,837 MW - 36 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 7. LONG-TERM DEBT(Continued) i Notes Payable (Continued) i Fund Debt Balance, Balance, Current Issue Retired by January 1 Issuances Retirements December 31 Portion L $4,250,000 TIF note payable to developers dated June 6, 2005 for certain improvements in the TIF area, interest at 8.00%due in semi- annual installments contingent L upon sufficient pledged incremental real estate tax and sales tax. Principal is due by Promenade February 1,2024. TIF $ 4,145,976 $ - $ 91,000 $ 4,054,976 $ - TOTAL $ 7,488,767 $ - $ 1,761,000 $ 5,727,767 $ 1,672,791 Debt Service Requirements to Maturity Annual debt service requirements to maturity are as follows: LInstallment Contracts Notes Payable from Notes Payable from Fiscal Year Payable from Governmental Governmental Business-Type Ending Activities Activities Activities LDecember 31, Principal Interest Principal Interest Principal Interest 2013 $ 255,000 $ 39,575 $ 1,503,954 $ - $ 168,837 $ - L 2014 260,000 33,838 2015 265,000 26,687 2016 275,000 18,738 - - - - 2017 280,000 9,800 - - - - 2018 - - - - - - 2019 - - - - - - 2020 - - - - - - i.. TOTAL $ 1,335,000 $ 128,638 $ 1,503,954 $ - $ 168,837 $ - L L l - 37 - L VILLAGE OF OAK BROOK, ILLINOIS - NOTES TO FINANCIAL STATEMENTS (Continued) 7. LONG-TERM DEBT (Continued) Debt Service Requirements to Maturity(Continued) The repayment of the TIF note payable is based on incremental real estate tax and sales tax _ received. As such, there is no debt service to maturity schedule. Change in Long-Term Liabilities During the fiscal year, the following changes occurred in long-term liabilities reported in the governmental activities: Balance, Balance, Current January 1 Additions Reductions December 31 Portion Installment contracts payable $ 1,585,000 $ - $ 250,000 $ 1,335,000 $ 255,000 Notes payable 7,151,093 - 1,592,163 5,558,930 1,503,954 Net other postemployment benefit obligation* 75,076 50,282 125,358 - Net pension obligation* 298,736 60,110 - 358,846 - Compensated absences* 983,788 997,394 983,788 997,394 997,394 Compensated absences- Internal Service Fund 11,542 13,069 11,542 13,069 13,069 TOTAL GOVERNMENTAL ACTIVITIES $ 10,105,235 $ 1,120,855 $ 2,837,493 $ 8,388,597 $ 2,769,417 *The compensated absences for governmental activities typically have been liquidated by the General Fund and the Infrastructure Fund. The net other postemployment benefit obligation and net pension obligation typically have been liquidated by the General Fund. During the fiscal year, the following changes occurred in long-term liabilities reported in the business-type activities: Balance, Balance, Current January 1 Additions Reductions December 31 Portion Installment contracts .. payable $ 125,000 $ - $ 125,000 $ - $ - Notes payable 337,674 - 168,837 168,837 168,837 Compensated absences 93,504 90,105 93,504 90,105 90,105 TOTAL BUSINESS- TYPE ACTIVITIES $ 556,178 $ 90,105 $ 387,341 $ 258,942 $ 258,942 - 38 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) I 7. LONG-TERM DEBT (Continued) Legal Debt Margin 2011 assessed valuation(latest information available) $ 1,493,831,669 Legal debt limit-8.625% of assessed valuation $ 128,842,981 Amount of debt applicable to debt limit 1,335,000 ` LEGAL DEBT MARGIN $ 127,507,981 8. INTERFUND ACCOUNTS Advance from/to other funds Receivable Fund Payable Fund Amount General Sports Core $ 2,545,898 The purpose of this amount advanced to the Sports Core Fund from the General Fund was to finance various ongoing capital projects and operating needs. Transfer from/to other funds Transfer To Transfer From Amount General Self-Insurance $ 275,000 The purpose of this amount transferred to the General Fund was to reduce the total net position surplus in the Self-Insurance Fund. 9. COMMITMENTS a. DuPage Water Commission The Village is a customer of the DuPage Water Commission (the Commission) and has executed a Water Supply Contract (the Contract)with the Commission for a term ending in 2024. The Contract provides that the government pay its proportionate share of"fixed costs" (debt service and capital costs) to the Commission, such obligation being unconditional and irrevocable whether or not water is ever delivered. These costs are expensed along with the other operation charges from the Commission. - 39 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) ... 9. COMMITMENTS (Continued) a. DuPage Water Commission (Continued) Fiscal Year Ending December 31, Amount 2013 $ 277,711 2014 277,711 2015 277,711 2016 277,711 2017 277,711 Thereafter 1,943,977 TOTAL $ 3,332,532 These amounts have been calculated using the Village's current allocation percentage. In future years, this allocation percentage will be subject to change. Estimates for the remaining years of the Contract are not currently available. However, the Village does not expect the minimum amounts for the remaining years of the Contract to materially vary from the amounts presented above. 10. CONTINGENT LIABILITIES Litigation The Village is a defendant in various lawsuits. Although the outcome of these lawsuits is not presently determinable, in the opinion of the Village's attorney, the resolution of these matters will not have a material adverse effect on the financial condition of the Village. In addition, the Village may become responsible for certain legal costs associated with -� other lawsuits. It is possible, but not probable, that the Village will become liable for these costs. No liability, therefore, has been recorded on the financial statements for this litigation. Grants Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies, principally the federal government. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures which may be disallowed by the grantor cannot be determined at this time although the Village expects such amounts, if any, to be immaterial. - 40 - L VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) L 10. CONTINGENT LIABILITIES (Continued) DuPage Water Commission The Village's agreement with the DuPage Water Commission provides that each member is liable for its proportionate share of any cost arising from defaults in payment obligations by other members. 11. DEFINED BENEFIT PENSION PLANS The Village contributes to four defined benefit pension plans, the Illinois Municipal Retirement Fund(IMRF), an agent multiple-employer public employee retirement system; the Sheriff's Law Enforcement Personnel (SLEP) (also administered by IMRF), an agent multiple-employee retirement system; the Police Pension Plan, which is a single-employer pension plan; and the Firefighters' Pension Plan, which is also a single-employer pension plan. The benefits, benefit levels, employee contributions and employer contributions for all four plans are governed by Illinois Compiled Statutes and can only be amended by the Illinois General Assembly. The Police and Firefighters' Pension Plans each issue separate financial statements. These reports can be obtained from the Village of Oak Brook, 1200 Oak Brook Road, Oak Brook, Illinois 60523-2255. IMRF issues a publicly available report that includes financial statements and supplementary information for the plan as a whole, but not for individual employers. That report can be obtained from IMRF, 2211 York Road, Suite 500, Oak Brook, Illinois 60523. a. Plan Descriptions Illinois Municipal Retirement Fund IMRF provides two tiers of pension benefits. Employees hired prior to January 1, 2011, are eligible for Tier 1 benefits. For Tier 1 employees, pension benefits vest after eight years of service. Participating members who retire at age 55 (reduced -• benefits) or after age 60 (full benefits)with eight years of credited service are entitled to an annual retirement benefit, payable monthly for life, in an amount equal to 1 2/3% of their final rate of earnings, for each year of credited service up to 15 years, and 2% for each year thereafter. Employees hired on or after January 1, 2011, are eligible for Tier 2 benefits. For Tier 2 employees,pension benefits vest after ten years of service. Participating members who retire at age 62 (reduced benefits) or after age 67 (full benefits)with ten years of credited service are entitled to an annual retirement benefit, payable monthly for life, in an amount equal to 12/3% of their final rate of earnings, for each year of credited service up to 15 years, and 2% for each year thereafter. These benefit provisions and all other requirements are established by state statute. Participating members are required to contribute 4.50% of their annual salary to EVW. The Village is required to contribute the remaining amounts necessary to fund IMRF as specified by statute. The employer contribution for the year ended December 31, 2012 was 14.15% of covered payroll. - 41 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) .. 11. DEFINED BENEFIT PENSION PLANS (Continued) a. Plan Descriptions (Continued) Sheriff's Law Enforcement Personnel SLEP members, having accumulated at least 20 years of SLEP service and terminating IMRF participation on or after January 1, 1988, may elect to retire at or after age 50 with no early retirement discount penalty. SLEP members meeting these two qualifications are entitled to an annual retirement benefit, payable monthly for life, in an amount generally equal to 2.50% of their final rate of earnings, for each year of credited service up to 20 years, 2.00% of their final earnings rate for the next ten years of credited service and 1.00% for each year thereafter. For SLEP members retiring with less than 20 years of SLEP service, the regular IMRF pension formula applies. SLEP also provides death and disability benefits. These benefit provisions and all other requirements are established by Illinois MW Compiled Statute. Participating members are required to contribute 6.5% of their annual salary to SLEP. The Village is required to contribute the remaining amounts necessary to fund SLEP as specified by statute. The employer contribution for the .04 year ended December 31, 2012 was 15.02% of covered payroll. Police Pension Plan Police sworn personnel are covered by the Police Pension Plan. Although this is a single-employer pension plan, the defined benefits and employee and employer contribution levels are governed by Illinois Compiled Statutes (40 ILCS 5/3-1) and may be amended only by the Illinois legislature. The Village accounts for the plan as _ a pension trust fund. At December 31, 2012, the Police Pension Plan membership consisted of: Retirees and beneficiaries currently receiving benefits 35 Terminated employees entitled to benefits but not yet receiving them 1 _ Current employees Vested 33 Nonvested 8 •. TOTAL 77 MR -42 - .. VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) L 11. DEFINED BENEFIT PENSION PLANS (Continued) a. Plan Descriptions (Continued) IPW Police Pension Plan (Continued) �- The Police Pension Plan provides retirement benefits as well as death and disability benefits. Tier 1 employees (those hired prior to January 1, 2011) attaining the age of 50 or older with 20 or more years of creditable service are entitled to receive an annual retirement benefit equal to one-half of the salary attached to the rank held on the last day of service, or for one year prior to the last day, whichever is greater. The annual benefit shall be increased by 2.50%of such salary for each additional year of service over 20 years up to 30 years to a maximum of 75.00% of such salary. Employees with at least eight years but less than 20 years of credited service may retire at or after age 60 and receive a reduced benefit. The monthly benefit of a i police officer who retired with 20 or more years of service after January 1, 1977 shall be increased annually, following the first anniversary date of retirement and be paid upon reaching the age of at least 55 years, by 3.00% of the original pension and 3.00% compounded annually thereafter. Tier 2 employees (those hired on or after January 1, 2011) attaining the age of 55 or older with ten or more years of creditable service are entitled to receive an annual retirement benefit equal to the average monthly salary obtained by dividing the total salary of the police officer during the 96 consecutive months of service within the last 120 months of service in which the total salary was the highest by the number of months of service in that period. Police officers' salary for pension purposes is •- capped at $106,800, plus the lesser of%2 of the annual change in the Consumer Price Index or 3.00% compounded. The annual benefit shall be increased by 2.50% of such salary for each additional year of service over 20 years up to 30 years to a maximum of 75.00% of such salary. Employees with at least ten years may retire at or after age 50 and receive a reduced benefit (i.e., 1/2% for each month under 55). The monthly benefit of a Tier 2 police officer shall be increased annually at age 60 on the January 1St after the police officer retires, or the first anniversary of the pension starting date, whichever is later. Noncompounding increases occur annually, each January thereafter. The increase is the lesser of 3.00% or %2 of the change in the Consumer Price Index for the proceeding calendar year. '6" -43 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 11. DEFINED BENEFIT PENSION PLANS (Continued) a. Plan Descriptions (Continued) Police Pension Plan(Continued) Employees are required by ILCS to contribute 9.91% of their base salary to the - Police Pension Plan. If an employee leaves covered employment with less than 20 years of service, accumulated employee contributions may be refunded without accumulated interest. Benefits and refunds are recognized when due and payable in accordance with the terms of the plan. The costs of administering the Police Pension Plan are financed through investment earnings. The Village is required to contribute the remaining amounts necessary to finance the plan as actuarially determined by an enrolled actuary. For the year ended December 31, 2012, the Village's contribution was 26.80% of covered payroll. The State of Illinois passed Public Act 096-1495 on December 30, 2010. As a result, effective January 1, 2012,the Village has until the year 2040 to fund 90% of the past service costs for the Police Pension Plan. Firefighters' Pension Plan left Fire sworn personnel are covered by the Firefighters' Pension Plan. Although this is a single-employer pension plan, the defined benefits and employee and employer contribution levels are governed by Illinois Compiled Statutes (40 ILCS 5/4-1) and may be amended only by the Illinois legislature. The Village accounts for the plan as a pension trust fund. At December 31, 2012, the Firefighters' Pension Plan membership consisted of. Retirees and beneficiaries currently receiving benefits 49 Terminated employees entitled to benefits but not yet receiving them - Current employees _ Vested 19 Nonvested 13 TOTAL 81 - 44 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 11. DEFINED BENEFIT PENSION PLANS (Continued) a. Plan Descriptions (Continued) Firefighters' Pension Plan (Continued) -� The Firefighters' Pension Plan provides retirement benefits as well as death and disability benefits. Tier 1 employees (those hired prior to January 1, 2011) attaining the age of 50 or older with 20 or more years of creditable service are entitled to receive an annual retirement benefit equal to one-half of the salary attached to the rank held at the date of retirement. The annual benefit shall be increased by 2.50% of such salary for each additional year of service over 20 years up to 30 years to a maximum of 75.00% of such salary. Employees with at least ten years but less than 20 years of credited service may retire at or after age 60 and receive a reduced benefit. The monthly benefit of a covered employee who retired with 20 or more years of service after January 1, 1977 shall be increased annually, following the first anniversary date of retirement and be paid upon reaching the age of at least 55 years, b, by 3.00% of the original pension and 3.00% compounded annually thereafter. Tier 2 employees (those hired on or after January 1, 2011) attaining the age of 55 or older with ten or more years of creditable service are entitled to receive an annual retirement benefit equal to the average monthly salary obtained by dividing the total salary of the firefighter during the 96 consecutive months of service within the last 120 months of service in which the total salary was the highest by the number of months of service in that period. Firefighters' salary for pension purposes is capped at $106,800, plus the lesser of/2 of the annual change in the Consumer Price Index or 3.00% compounded. The annual benefit shall be increased by 2.50% of such salary for each additional year of service over 20 years up to 30 years to a maximum of 75.00% of such salary. Employees with at least ten years may retire at or after age 50 and receive a reduced benefit(i.e. %2% for each month under 55). The monthly benefit of a Tier 2 firefighter shall be increased annually at age 60 on the January 1St after the firefighter retires, or the first anniversary of the pension starting date, whichever is later. Noncompounding increases occur annually, each January thereafter. The increase is the lesser of 3.00% or %2 of the change in the Consumer Price Index for the proceeding calendar year. - 45 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 11. DEFINED BENEFIT PENSION PLANS (Continued) a. Plan Descriptions (Continued) Firefighters' Pension Plan (Continued) Covered employees are required to contribute 9.455% of their base salary to the Firefighters' Pension Plan. If an employee leaves covered employment with less than 20 years of service, accumulated employee contributions may be refunded without accumulated interest. Benefits and refunds are recognized when due and payable in accordance with the terms of the plan. The costs of administering the Firefighters' Pension Plan are financed through investment earnings. The Village is required to finance the plan as actuarially determined by an enrolled actuary. For the year ended December 31, 2012,the Village's contribution was 36.26% of covered •. payroll. The State of Illinois passed Public Act 096-1495 on December 30, 2010. As a result, effective January 1, 2012, the Village has until the year 2040 to fund 90% of the past service costs for the Firefighters' Pension Plan. -- b. Annual Pension Costs Employer contributions have been determined as follows: Illinois �• Municipal Retirement and Sheriff's Law Enforcement Police Firefighters' Personnel Pension Pension Actuarial valuation date December 31, December 31, December 31, 2010 2011 2011 Aft Actuarial cost method Entry-age Entry-age Entry-age Normal Normal Normal Asset valuation method 5 Year Market Market Smoothed Market Amortization method Level Level Level Percentage of Percentage of Percentage of Payroll Payroll Payroll Amortization period 30 Years, 29 Years, 29 Years, Open Closed Closed -46 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) lo. 11. DEFINED BENEFIT PENSION PLANS (Continued) b. Annual Pension Costs (Continued) hw Illinois Municipal @ww Retirement and Sheriff's ►. Law Enforcement Police Firefighters' Personnel Pension Pension i Significant actuarial assumptions a) Rate of return on 7.50% 6.75% 6.75% present and future assets Compounded Compounded Compounded two Annually Annually Annually b) Projected salary increase- 4.00% 3.75% 3.75% attributable to inflation Compounded Compounded Compounded Annually Annually Annually c) Additional projected .40 to 10.00% Not Available Not Available salary increases- seniority/merit 1 -47 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 11. DEFINED BENEFIT PENSION PLANS (Continued) b. Annual Pension Costs (Continued) Employer annual required contributions (ARC), actual contributions and the net pension obligation (NPO) (asset) are as follows. The NPO (asset) is the cumulative difference between the annual pension costs and the contributions actually made. Sheriff s Law Illinois Enforce- Calendar Municipal ment Police Firefighters' Year Retirement Personnel Pension Pension Annual pension cost(APC) 2010 $ 649,120 $ 18,125 $ 944,808 $ 933,925 2011 691,908 8,458 885,339 1,082,677 2012 720,377 52,030 972,423 1,066,582 Actual contribution 2010 649,120 18,125 944,808 933,925 2011 691,908 8,458 674,170 995,110 2012 720,377 52,030 977,367 1,001,528 Percentage of APC 2010 100.00% 100.00% 100.00% 100.00% contributed 2011 100.00% 100.00% 76.15% 91.91% 2012 100.00% 100.00% 100.51% 93.90% .� NPO(asset) 2010 $ - $ - $ - $ - 2011 - - 211,169 87,567 2012 - - 206,225 152,621 The net pension obligation (asset)has been calculated as follows as of December 31, 2012: Police Firefighters' Pension Pension Annual required contributions $ 969,024 $ 1,065,173 Interest on net pension obligation 14,254 5,911 Adjustment to annual required contribution (10,855) (4,502) Annual pension cost 972,423 1,066,582 Contributions made 977,367 1,001,528 Increased(decrease) in net pension obligation (4,944) 65,054 Net pension obligation(asset), January 1 211,169 87,567 NET PENSION OBLIGATION(ASSET), DECEMBER 31 $ 206,225 $ 152,621 -48 - L VILLAGE OFAK BROOK, ILLINOIS O 00 O S LNOTES TO FINANCIAL STATEMENTS (Continued) L 11. DEFINED BENEFIT PENSION PLANS (Continued) C. Summary Financial Information The following is summary financial information for the Police and Firefighters' Pension Plans. L. Statement of Plan Net Position I Pension Trust Police Firefighters' Pension Pension Total ASSETS Cash $ 159,952 $ 134,643 $ 294,595 Investments Illinois Funds 27,982 140,008 167,990 Money market mutual funds 1,334,117 875,037 2,209,154 U.S. Treasury securities 1,553,513 401,824 1,955,337 U.S. agency securities 7,454,349 5,644,216 13,098,565 State and local obligations 1,669,810 1,168,106 2,837,916 Corporate bonds 3,558,087 2,958,187 6,516,274 y- Mutual funds 12,145,874 11,950,044 24,095,918 Equities 1,791,513 - 1,791,513 Accrued interest receivable 119,433 92,668 212,101 Total assets 29,814,630 23,364,733 53,179,363 LIABILITIES Accounts payable 11,383 13,585 24,968 Total liabilities 11,383 13,585 24,968 NET POSITION HELD IN TRUST j FOR PENSION PLAN BENEFITS $ 29,803,247 $ 23,351,148 $ 53,154,395 - 49 - .. .. VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) .. 11. DEFINED BENEFIT PENSION PLANS (Continued) C. Summary Financial Information(Continued) Statement of Changes in Plan Net Position Pension Trust Police Firefighters' Pension Pension Total ADDITIONS Contributions .. Employer $ 977,367 $ 1,001,528 $ 1,978,895 Employee 483,678 261,795 745,473 Other 3,126 - 3,126 goo Total contributions 1,464,171 1,263,323 2,727,494 Investment income Net appreciation in fair - Value of investments 1,145,655 1,251,705 2,397,360 Interest 1,326,117 743,395 2,069,512 Total investment income 2,471,772 1,995,100 4,466,872 Less investment expense (81,787) (64,838) (146,625) Net investment income 2,389,985 1,930,262 4,320,247 Total additions 3,854,156 3,193,585 7,047,741 DEDUCTIONS Benefits and refunds 1,940,356 1,959,549 3,899,905 Administrative 33,536 38,060 71,596 1 Total deductions 1,973,892 1,997,609 3,971,501 NET INCREASE 1,880,264 1,195,976 3,076,240 NET POSITION HELD IN TRUST Y FOR PENSION BENEFITS ., January 1 27,922,983 22,155,172 50,078,155 December 31 $ 29,803,247 $ 23,351,148 $ 53,154,395 - 50 - VILLAGE OF OAK BROOK ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 11. DEFINED BENEFIT PENSION PLANS (Continued) Ld. Funded Status The funded status of the plans as of December 31, 2012 is as follows. The actuarial L assumptions used to determine the funded status of the plans are the same actuarial assumptions used to determine the employer annual pension costs of the plans as disclosed in Note 11-c: Illinois Sheriff s Law Municipal Enforcement Firefighters' Police Retirement Personnel Pension Pension Actuarial accrued liability(AAL) $ 16,504,611 $ - $ 38,030,219 $ 44,517,503 j Actuarial value of plan assets 10,784,804 (737,742) 23,351,147 29,803,246 L Unfunded actuarial accrued liability (UAAL) 5,719,807 737,742 14,679,072 14,714,257 Funded ratio(actuarial value of plan assets/AAL) 65.34% 0.00% 61.40% 66.95% Covered payroll(active plan members) $ 5,091,006 $ - $ 2,762,080 $ 3,646,309 UAAL as a percentage of covered payroll 112.35% 0.00% 531.45% 403.54% See the schedules of funding progress in the required supplementary information immediately following the notes to financial statements for additional information related to the funded status of the plans. 12. OTHER POSTEMPLOYMENT BENEFITS Plan Description �. In addition to providing the pension benefits described, the Village provides postemployment health care (OPEB)benefits for retirees and disabled employees through a single-employer defined benefit plan (the Plan). The benefits, benefit levels, employee •- contributions and any employer contributions are governed by the Village and can be amended by the Village through its personnel manual and union contracts. The Plan is not accounted for as a trust fund, as an irrevocable trust has not been established to account for *' the Plan. The Plan does not issue a separate report. The activity of the Plan is reported in the Village's Self-Insurance Fund. .o - 51 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) .. 12. OTHER POSTEMPLOYMENT BENEFITS (Continued) Benefits Provided The Village provides postemployment health care benefits to its retirees and certain disabled employees. To be eligible for benefits, an employee must qualify for retirement under one of the Village's retirement plans or meet COBRA requirements. For certain disabled employees who qualify for health insurance benefits under the Public Safety Employee Benefits Act(PSEBA), the Village is required to pay 100% of the cost of basic health insurance for the employee and their dependents for their lifetime. As of December 31, 2012, the Village has two disabled retirees receiving benefits under this statute. All health care benefits are provided through the Village's self-insured health plan. The _ benefit levels are the same as those afforded to active employees. Benefits include general inpatient and outpatient medical services; mental, nervous and substance abuse care; vision care; dental care; and prescriptions. Eligibility in village sponsored health care plans is .� discontinued upon eligibility for federally sponsored health care benefits. Membership At December 31, 2011, membership consisted of: Retirees and beneficiaries currently receiving benefits 19 Terminated employees entitled to benefits but not yet receiving them - Current employees Vested 99 Nonvested 50 TOTAL 168 Participating employers I 00 Funding Policy All retirees contribute 100% of the actuarially determined premium to the Plan to cover the cost of providing the benefits to the retirees via the self-insured plan (pay as you go), which results in an implicit subsidy to the Village as defined by the GASB Statement No. 45. The Village pays 100% of the actuarially determined premium for certain disabled employees. Since the Village is self-insured, these amounts fluctuate on an annual basis. For the fiscal year ended December 31, 2012, all retirees contributed $492,729 and the Village contributed $112,078. The Village is not required to and currently does not advance fund .. the cost of benefits that will become due and payable in the future. Active employees do not contribute to the Plan until retirement. - 52 - ® VILLAGE OF OAK BROOK ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 12. OTHER POSTEMPLOYMENT BENEFITS (Continued) Annual OPEB Costs and Net OPEB Obligation i The Village's annual OPEB cost, the percentage of annual OPEB cost contributed to the Plan and the net OPEB obligation was as follows: Fiscal Annual Percentage of Year OPEB Employer Annual OPEB Net OPEB Ended Cost Contributions Cost Contributed Obligation December 31,2010 $ 184,254 $ 137,854 74.8% $ 24,858 December 31, 2011 188,072 137,854 73.3% 75,076 December 31, 2012 162,361 112,079 69.0% 125,358 LThe net OPEB obligation (NOPEBO) as of December 31, 2012 was calculated as follows: Annual required contribution $ 156,077 Interest on net OPEB obligation 3,859 Adjustment to annual required contribution 2,425 Annual OPEB cost 162,361 Contributions made 112,079 Increase in net OPEB obligation 50,282 Net OPEB obligation, beginning of year 75,076 NET OPEB OBLIGATION, END OF YEAR $ 125,358 Funded Status and Funding Progress The funded status of the Plan as of December 31, 2011 (most recent available)was as follows: Actuarial accrued liability(AAL) $ 2,673,072 ,., Actuarial value of plan assets - Unf ended actuarial accrued liability(UAAL) 2,673,072 Funded ratio (actuarial value of plan assets/AAL) -% •a Covered payroll (active plan members) $ 12,657,543 UAAL as a percentage of covered payroll 21.12% - 53 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) .., 12. OTHER POSTEMPLOYMENT BENEFITS (Continued) Funded Status and Funding Progress (Continued) Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and assumptions about the probability of occurrence of events far into the future. Examples include assumptions about future employment, mortality and the healthcare cost trend. Amounts determined regarding the funded status of the Plan and the annual required contributions of the employer are subject to continual revision as actual results are compared with past expectations and new estimates are made about the future. The schedule of funding progress, presented as required supplementary information following the notes to financial statements,presents multi-year trend information that shows whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued liabilities for benefits. .. Actuarial Methods and Assumptions Projections of benefits for financial reporting purposes are based on the substantive plan (the Plan as understood by the employer and plan members) and include the types of benefits provided at the time of each valuation and the historical pattern of sharing of -� benefit costs between the employer and plan members to that point. The actuarial methods and assumptions used include techniques that are designed to reduce short-term volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long- term perspective of the calculations. In the December 31, 2011 actuarial valuation, the entry-age actuarial cost method was used. The actuarial assumptions included a 5.00% investment rate of return (net of administrative expenses) and an initial annual healthcare cost trend rate of 8.00% and an ultimate healthcare cost trend rate of 6.00%. These rates include a 3.00% inflation assumption. The actuarial value of assets was not determined as the Village has not advance funded its obligation. The Plan's unfunded actuarial accrued liability is being amortized as a level percentage of projected payroll on an open basis. The remaining amortization period at December 31, 2011 was 30 years. - 54 - REQUIRED SUPPLEMENTARY INFORMATION s I ~ VILLAGE OF OAK BROOK,ILLINOIS t� GENERALFUND A.r SCHEDULE OF REVENUES,EXPENDITURES AND CHANGES 1N FUND BALANCE-BUDGET AND ACTUAL i For the Year Ended December 31,2012 (With Comparative Actual) 1 2012 f Variance 1.. Original Final Over 2011 Budget Budget Actual (Under) Actual REVENUES Intergovernmental $ 11,748,860 $ 11,748,860 $ 12,387,361 $ 638,501 $ 12,087,197 Utility taxes 4,640,000 4,640,000 4,900,869 260,869 4,657,683 1 Licenses and permits 839,900 839,900 1,201,998 362,098 948,872 Charges for services 1,133,700 1,133,700 970,778 (162,922) 1,089,783 Fines and penalties 301,360 301,360 231,865 (69,495) 248,120 Investment income 60,000 60,000 31,430 (28,570) 24,868 Miscellaneous 322,210 322,210 350,168 27,958 323,664 Total revenues 19,046,030 19,046,030 20,074,469 1,028,439 19,380,187 i EXPENDITURES " Current General government 3,550,835 3,523,435 3,595,058 71,623 3,315,476 Public safety 12,940,210 12,967,610 12,900,045 (67,565) 11,739,217 �.. Public works 647,845 639,645 496,895 (142,750) 540,047 Culture and recreation 941,130 941,130 896,889 (44,241) 878,508 Capital outlay 667,005 675,205 607,097 (68,108) 281,457 Debt service k.. Principal 250,000 250,000 250,000 - 245,000 Interest and fiscal charges 45,005 45,005 45,003 (2) 49,903 Total expenditures 19,042,030 19,042,030 18,790,987 (251,043) 17,049,608 EXCESS(DEFICIENCY)OF REVENUES OVER EXPENDITURES 4,000 4,000 1,283,482 1,279,482 2,330,579 B- OTHER FINANCING SOURCES(USES) Transfers in - - 275,000 275,000 - Sale of capital assets - - - - 28,846 Total other financing sources(uses) - - 275,000 275,000 28,846 NET CHANGE IN FUND BALANCE $ 4,000 $ 4,000 1,558,482 $ 1,554,482 2,359,425 FUND BALANCE,JANUARY 1 15,984,475 13,625,050 tow FUND BALANCE,DECEMBER 31 $ 17,542,957 $ 15,984,475 ..w (See independent auditor's report.) `' - 55 - VILLAGE OF OAK BROOK, ILLINOIS aft NOTES TO REQUIRED SUPPLEMENTARY INFORMATION Aft December 31, 2012 Budgets are adopted on a basis consistent with generally accepted accounting principles. Annual budgets are adopted for the General, Special Revenue and Capital Projects Funds on the modified accrual basis. Enterprise, Internal Service and Pension Trust Funds are on the accrual basis and a current financial resources measurement focus except the Village does not budget depreciation but does budget capital outlay. The annual budget is legally enacted and provides OEM for a legal level of control at the program level. All annual appropriations lapse at fiscal year end. a. Budgets The Village follows these procedures in establishing the budgetary data reflected in the financial statements: 1. All departments of the Village submit budget requests to the Budget Officer so that a budget may be prepared. 2. The Village Manager submits to the Village Board of Trustees a proposed operating budget for the fiscal year commencing the following January 1. The operating budget includes proposed expenditures and the means of financing them. 3. A public hearing is conducted by the Village to obtain resident comments. 4. Subsequently, the budget is adopted by the Village Board. 5. Annual budgets are adopted for all funds on a basis consistent with generally accepted accounting principles. 6. Formal budgetary integration is employed as a management control device during year for all funds of the Village. 7. Appropriations lapse at year end. 8. The Village Manager and Budget Officer are authorized to transfer budgeted amounts between line items within any program; however, any revisions that alter the total expenditures of any program or fund must be approved by the i Village Board. The level of legal control is the individual program budget in total. 9. Budgeted amounts are as originally adopted with the exceptions of approved transfers which were not material in relation to the budgets taken as a whole. After Village Board transfers,no program had an excess of expenditures/expenses, exclusive of depreciation and amortization over budget for the fiscal year. - 56 - L VILLAGE OF OAK BROOK, ILLINOIS NOTES TO REQUIRED SUPPLEMENTARY INFORMATION (Continued) December 31, 2012 b. Excess of Actual Expenditures/Expenses Over Budget in Individual Funds y„ The following funds had an excess of actual expenditures/expenses (exclusive of depreciation and amortization) over budget for the fiscal year: Fund Excess Promenade TIF $ 10,777 Sports Core 243,919 Self-Insurance 223,127 i� I t s.• i a. I - 57 - +s VILLAGE OF OAK BROOK,ILLINOIS •ter SCHEDULE OF FUNDING PROGRESS ILLINOIS MUNICIPAL RETIREMENT FUND December 31,2012 (4) Unfunded (2) (Overfunded) UAAL .. Actuarial Actuarial (OAAL) Accrued Accrued as a Actuarial (1) Liability (3) Liability Percentage Valuation Actuarial (AAL) Funded (UAAL) (5) of Covered Date Value of Entry-Age Ratio (OAAL) Covered Payroll December 31, Assets Normal (1)/(2) (2)-(1) Payroll (4)/(5) 2007 $ 13,391,125 $ 15,455,482 86.64% $ 2,064,357 $ 6,395,211 32.28% 2008 11,511,641 16,564,067 69.50% 5,052,426 7,142,269 70.74% 2009 9,609,171 14,603,710 65.80% 4,994,539 6,567,736 76.05% 2010 9,534,465 15,208,443 62.69% 5,673,978 5,273,109 107.60% 2011 9,699,712 15,535,903 62.43% 5,836,191 5,214,086 111.93% 2012 10,784,804 16,504,611 65.34% 5,719,807 5,091,006 112.35% r Or -r (See independent auditor's report.) - 58 - 4 VILLAGE OF OAK BROOK,ILLINOIS SCHEDULE OF FUNDING PROGRESS �* SHERIFF'S LAW ENFORCEMENT PERSONNEL December 31,2012 �. (4) Unfunded (2) (Overfunded) UAAL ` Actuarial Actuarial (OAAL) Accrued Accrued as a Actuarial (1) Liability (3) Liability Percentage Valuation Actuarial (AAL) Funded (UAAL) (5) of Covered ONO Date Value of Entry-Age Ratio (OAAL) Covered Payroll December 31, Assets Normal (1)/(2) (2)-(1) Payroll (4)/(5) �-- 2007 $ 64,632 $ 28,962 223.16% $ (35,670) $ 120,808 (29.53%) 1 2008 187,175 218,844 85.53% 31,669 129,968 24.37% 2009 202,440 248,486 81.47% 46,046 126,795 36.32% 2010 234,928 282,824 83.07% 47,896 126,304 37.92% 2011 (745,925) - 0.00% 745,925 57,101 1306.33% 2012 (737,742) - 0.00% 737,742 - 0.00% Note: The Village no longer had any participants in SLEP as of December 31,2011. a.. 1.. (See independent auditor's report.) - 59 - am% VILLAGE OF OAK BROOK,ILLINOIS SCHEDULE OF FUNDING PROGRESS POLICE PENSION FUND December 31,2012 (2) UAAL Actuarial (4) as a Actuarial (1) Accrued (3) Unfunded Percentage Valuation Actuarial Liability Funded AAL (5) of Covered Date Value of (AAL) Ratio (UAAL) Covered Payroll December 31, Assets Entry-Age (1)/(2) (2)-(1) Payroll (4)/(5) .� 2007 $ 27,827,838 $ 32,129,429 86.61% $ 4,301,591 $ 3,180,282 135.26% 2008 24,349,249 35,266,292 69.04% 10,917,043 3,314,574 329.36% 2009 26,391,636 36,801,319 71.71% 10,409,683 3,433,002 303.22% 2010 28,421,357 38,718,877 73.40% 10,297,520 3,288,064 313.18% 2011 27,922,983 40,706,989 68.60% 12,784,006 3,310,998 386.11% 2012 29,803,246 44,517,503 66.95% 14,714,257 3,646,309 403.54% aft r MEN 3 1 i (See independent auditor's report.) - 60 - i VILLAGE OF OAK BROOK,ILLINOIS SCHEDULE OF FUNDING PROGRESS L FIREFIGHTERS'PENSION FUND LDecember 31,2012 1 (4) UAAL IMW (2) Unfunded (OAAL) Actuarial (Overfunded) as a L Actuarial (1) Accrued (3) AAL Percentage Valuation Actuarial Liability Funded (UAAL) (5) of Covered Date Value of (AAL) Ratio (OAAL) Covered Payroll December 31, Assets Entry-Age (1)/(2) (2)-(1) Payroll (4)/(5) t 2007 $ 22,473,402 $ 28,968,184 77.58% $ 6,494,782 $ 2,582,069 251.53% 2008 19,118,652 31,239,022 61.20% 12,120,370 2,804,818 432.13% L 2009 20,779,262 32,813,804 63.32% 12,034,542 2,573,691 467.60% 2010 22,275,798 36,057,657 61.78% 13,781,859 2,668,624 516.44% L2011 22,155,173 36,277,226 61.07% 14,122,053 2,687,097 525.55% 2012 23,351,147 38,030,219 61.40% 14,679,072 2,762,080 531.45% 1 L L I L L I L (See independent auditor's report.) - 61 - VILLAGE OF OAK BROOK,ILLINOIS SCHEDULE OF FUNDING PROGRESS 7 OTHER POSTEMPLOYMENT BENEFIT PLAN December 31,2012 .. (4) UAAL (2) Unfunded (OAAL) Actuarial (Overfunded) as a .. Actuarial (1) Accrued (3) AAL Percentage Valuation Actuarial Liability Funded (UAAL) (5) of Covered - Date Value of (AAL) Ratio (OAAL) Covered Payroll December 31, Assets Entry-Age (1)/(2) (2)-(1) Payroll (4)/(5) 2008 $ - $ 1,746,352 0.00% $ 1,746,352 N/A N/A 2009 - 3,108,091 0.00% 3,108,091 $ 13,426,525 23.15% 2010 N/A N/A N/A N/A N/A N/A �+ 2011 - 2,673,072 0.00% 2,673,072 12,657,543 21.12% 2012 N/A N/A N/A N/A N/A N/A N/A-Information not available. The Village implemented GASB Statement No. 45 for the fiscal year ended December 31, 2008. _ Information for prior years is not available. •r i AM\ (See independent auditor's report.) - 62 - VILLAGE OF OAK BROOK, ILLINOIS i SCHEDULE OF EMPLOYER CONTRIBUTIONS ILLINOIS MUNICIPAL RETIREMENT FUND December 31, 2012 Annual Fiscal Required Year Employer Contribution Percentage December 31, Contributions (ARC) Contributed 2007 $ 638,242 $ 638,242 100.00% 2008 726,369 726,369 100.00% 2009 674,506 674,506 100.00% 2010 649,120 649,120 100.00% ` 2011 691,908 691,908 100.00% ,,. 2012 720,377 720,377 100.00% (See independent auditor's report.) - 63 - VILLAGE OF OAK BROOK, ILLINOIS SCHEDULE OF EMPLOYER CONTRIBUTIONS SHERIFF'S LAW ENFORCEMENT PERSONNEL December 31, 2012 Annual Fiscal Required Year Employer Contribution Percentage December 31, Contributions (ARC) Contributed 2007 $ 14,207 $ 14,207 100.00% 2008 15,076 15,076 100.00% 2009 14,848 14,848 100.00% 2010 18,125 18,125 100.00% ." 2011 8,458 8,458 100.00% 2012 52,030 52,030 100.00% (See independent auditor's report.) - 64 - VILLAGE OF OAK BROOK, ILLINOIS SCHEDULE OF EMPLOYER CONTRIBUTIONS POLICE PENSION FUND �... December 31, 2012 Annual Fiscal Required Year Employer Contribution Percentage December 31, Contributions (ARC) Contributed 2007 $ 564,283 $ 564,283 100.00% 2008 617,619 617,619 100.00% 2009 958,641 958,641 100.00% 2010 944,808 944,808 100.00% 2011 674,170 885,339 76.15% 2012 977,367 969,024 100.86% (See independent auditor's report.) �— - 65 - VILLAGE OF OAK BROOK, ILLINOIS SCHEDULE OF EMPLOYER CONTRIBUTIONS FIREFIGHTERS'PENSION FUND i December 31, 2012 Annual Fiscal Required Year Employer Contribution Percentage December 31, Contributions (ARC) Contributed i. 2007 $ 564,945 $ 564,945 100.00% 2008 671,683 671,683 100.00% 2009 839,550 839,550 100.00% 2010 933,925 933,925 100.00% 2011 995,110 1,082,677 91.91% 2012 1,001,528 1,065,173 94.02% AM (See independent auditor's report.) - 66 - L VILLAGE OF OAK BROOK,ILLINOIS LSCHEDULE OF EMPLOYER CONTRIBUTIONS OTHER POSTEMPLOYMENT BENEFIT PLAN LDecember 31,2012 Annual Net Other Fiscal Required Postemployment Year Employer Contribution Percentage Benefit December 31, Contributions (ARC) Contributed Obligation(Asset) 2008 $ 88,965 $ 103,689 85.80% $ 14,727 L 2009 137,854 100,374 137.34% (21,542) 2010 137,854 186,027 74.10% 24,858 2011 137,854 186,027 74.10% 75,076 2012 112,079 156,077 71.81% 125,358 The Village implemented GASB Statement No.45 for the fiscal year ended December 31,2008. Information for prior years is not available. t 1 t (See independent auditor's report.) - 67 - MAJOR GOVERNMENTAL FUNDS i V 1r. `e 1 MAJOR GOVERNMENTAL FUNDS General Fund- to account for resources traditionally associated with governments which are not accounted for in another fund. Infrastructure Fund-to account for revenues restricted for and expenditures relative to the `' construction and maintenance of roadways, drainage and safety pathway systems. s L L L L L i r VILLAGE OF OAK BROOK,ILLINOIS GENERAL FUND SCHEDULE OF REVENUES-BUDGET AND ACTUAL For the Year Ended December 31,2012 (With Comparative Actual) 2012 Variance Original Final Over 2011 I Budget Budget Actual (Under) Actual I REVENUES Intergovernmental Municipal sales tax $ 10,655,000 $ 10,655,000 $ - 11,251,155 �$ 596,155 $ 10,997,862 ,..� Illinois state income and use tax 695,400 695,400 -815,762 120,362 766,894 Corporate personal property replacement taxes 259,660 259,660 268,2290 8,569 247,434 York Township road and bridge tax 50,000 50,000 14,973 0 (35,027) 39,623 Grants 88,800 88,800 37,242q (51,558) 35,384 Total intergovernmental 11,748,860 11,748,860 12,387,361 638,501 12,087,197 Utility taxes 4,640,000 4,640,000 - 4,900,869P 260,869 4,657,683 _ Licenses and permits 839,900 839,900 -1,201,9980 362,098 948,872 Charges for services 1,133,700 1,133,700 -970,7780 (162,922) 1,089,783 Fines and penalties 301,360 301,360 -2318656, (69,495) 248,120 Investment income 60,000 60,000 - 31,430 0 (28,570) 24,868 Miscellaneous Franchise fees 150,000 150,000 174,752 24,752 162,176 Other 172,210 172,210 175,416 3,206 161,488 Total miscellaneous 322,210 322,210 350,168 27,958 323,664 _ TOTAL REVENUES $ 19,046,030 $ 19,046,030 $ 20, 074,469 $ 1,028,439 $ 19,380,187 u�j �,0 �Z (See independent auditor's report.) - 68 - LVILLAGE OF OAK BROOK,ILLINOIS GENERAL FUND SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL L For the Year Ended December 31,2012 (With Comparative Actual) L 2012 Variance Original Final Over 2011 LBudget Budget Actual (Under) Actual GENERAL GOVERNMENT Legislative and general management L Board of trustees Personnel $ 78,150 $ 72,150 $ 68,924 $ (3,226) $ 66,814 Materials and supplies 3,500 3,500 1,093 (2,407) 2,954 Operation and contractual 61,500 59,000 41,277 (17,723) 83,910 L, Total board of trustees 143,150 134,650 111,294 (23,356) 153,678 Village clerk Personnel 130,230 117,230 113,716 (3,514) 107,612 Materials and supplies 920 920 1,600 680 449 Operation and contractual 16,700 12,910 11,502 (1,408) 5,454 Total Village clerk 147,850 131,060 126,818 (4,242) 113,515 Legal Personnel 18,410 18,410 18,604 194 18,433 I Materials and supplies 225 225 144 (81) 198 �... Operation and contractual 300,300 317,090 315,021 (2,069) 386,507 Total legal 318,935 335,725 333,769 (1,956) 405,138 1 �- General management Personnel 310,735 307,935 315,393 7,458 314,619 Materials and supplies 2,150 4,950 4,557 (393) 902 Operation and contractual 21,615 14,115 6,929 (7,186) 26,617 Total general management 334,500 327,000 326,879 (121) 342,138 Human resources Personnel 194,030 169,030 175,576 6,546 219,850 Materials and supplies 1,850 1,850 1,917 67 1,578 Operation and contractual 72,000 174,500 166,701 (7,799) 132,842 Total human resources 267,880 345,380 344,194 (1.186) 354,270 Risk management Personnel 57,270 52,270 46,894 (5,376) 47,012 Materials and supplies 5,000 1,000 498 (502) - Operation and contractual 480,525 480,525 477,592 (2,933) 629,728 Total risk management 542,795 533,795 524,984 (8,811) 676,740 Transportation Personnel 100 100 - (100) - Operation and contractual 86,000 3,000 - (3,000) - i Total transportation 86,100 3,100 - (3,100) i I (This schedule is continued on the following pages.) �- - 69 - I VILLAGE OF OAK BROOK,ILLINOIS GENERAL FUND SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL(Continued) For the Year Ended December 31,2012 (With Comparative Actual) 2012 Variance Original Final Over 2011 Budget Budget Actual (Under) Actual GENERAL GOVERNMENT(Continued) Legislative and general management(Continued) Emergency management Personnel $ 13,665 $ 13,665 $ 9,007 $ (4,658) $ 8,718 Materials and supplies 12,850 1,850 1,021 (829) 3,737 Operation and contractual 25,600 20,600 16,874 (3,726) 7,071 .. Capital outlay - 16,000 15,632 (368) - Total emergency management 52,115 52,115 42,534 (9,581) 19,526 General services Personnel 72,890 64,890 70,264 5,374 72,701 Materials and supplies 86,270 85,425 81,844 (3,581) 75,042 Operation and contractual 12,750 12,750 3,916 (8,834) 20,238 �. Total general services 171,910 163,065 156,024 (7,041) 167,981 Purchasing .. Personnel 64,785 64,785 65,263 478 59,150 Materials and supplies 750 750 170 (580) 613 Operation and contractual 2,000 2,000 343 (1,657) 90 Total purchasing 67,535 67,535 65,776 (1,759) 59,853 Information systems Personnel 333,340 300,840 306,495 5,655 299,570 .. Materials and supplies 24,300 39,300 35,443 (3,857) 32,888 Operation and contractual 264,230 281,730 269,491 (12,239) 235,422 Capital 145,000 145,000 146,725 1,725 92,821 Total information systems 766,870 766,870 758,154 (8,716) 660,701 Total legislative and general management 2,899,640 2,860,295 2,790,426 (69,869) 2,953,540 Community development management Personnel 281,435 291,935 294,922 2,987 267,599 Materials and supplies 3,130 3,130 1,012 (2,118) 236 Operation and contractual 1,100 1,100 40 (1,060) 23 Total community development management 285,665 296,165 295,974 (191) 267,858 .� Economic development Personnel 1,000 1,000 923 (77) 431 Materials and supplies 5,500 5,500 - (5,500) - .. Operation and contractual 207,500 204,100 78,618 (125,482) 89,665 Total economic development 214,000 210,600 79,541 (131,059) 90,096 (This schedule is continued on the following pages.) - 70 - - i LVILLAGE OF OAK BROOK,ILLINOIS LGENERAL FUND SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL(Continued) L For the Year Ended December 31,2012 (With Comparative Actual) L 2012 Variance Original Final Over 2011 L _ Budget Budget Actual (Under) Actual GENERAL GOVERNMENT(Continued) Community development management(Continued) L Code enforcement Personnel $ 418,265 $ 422,265 $ 429,192 $ 6,927 $ 387,739 Materials and supplies 3,050 3,050 2,161 (889) 2,529 Operation and contractual 34,620 34,620 28,473 (6,147) 32,153 LTotal code enforcement 455,935 459,935 459,826 (109) 422,421 Total community development management 955,600 966,700 835,341 (131,359) 780,375 Financial services Financial services management Personnel 128,060 128,060 129,466 1,406 122,815 i Materials and supplies 2,850 2,850 957 (1,893) 85 LOperation and contractual 42,570 41,170 41,261 91 34,366 Total financial services management 173,480 172,080 171,684 (396) 157,266 Accounting and reporting L Personnel 240,105 241,505 244,405 2,900 233,034 Materials and supplies 9,985 9,985 9,079 (906) 6,592 Operation and contractual 33,945 33,945 31,927 (2,018) 33,085 6- Total accounting and reporting 284,035 285,435 285,411 (24) 272,711 PSEBA benefits Personnel 31,200 31,200 31,200 - 27,600 Customer service Personnel - 845 841 (4) - ... Total financial services 488,715 489,560 489,136 (424) 457,577 Engineering and capital projects Municipal building improvements Capital 493,500 501,700 431,075 (70,625) 162,450 Total engineering and capital projects 493,500 501,700 431,075 (70,625) 162,450 Expenditure reimbursements paid to other funds 116,605 116,605 116,605 - 130,980 Subtotal general government 4,954,060 4,934,860 4,662,583 (272,277) 4,484,922 i L.. Less reimbursements from other funds (764,725) (764,725) (489,725) 275,000 (914,175) Total general government 4,189,335 4,170,135 4,172,858 2,723 3,570,747 L.. (This schedule is continued on the following pages.) - 71 - VILLAGE OF OAK BROOK,ILLINOIS GENERAL FUND .� SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL(Continued) For the Year Ended December 31,2012 (With Comparative Actual) 2012 Variance Original Final Over 2011 Budget Budget Actual (Under) Actual ... PUBLIC SAFETY Police department Police services management Personnel $ 312,980 $ 419,670 $ 414,814 $ (4,856) $ 312,615 Materials and supplies 3,500 3,500 3,728 228 3,187 Operation and contractual 71,870 76,495 73,783 (2,712) 85,387 _ Total police services management 388,350 499,665 492,325 (7.340) 401,189 Police field services _ Personnel 3,770,815 3,881,815 3,884,992 3,177 3,548,845 Materials and supplies 66,650 66,650 66,009 (641) 38,615 Operation and contractual 327,800 327,800 322,581 (5,219) 228,781 Total police field services 4,165,265 4,276,265 4,273,582 (2,683) 3,816,241 Police general support Personnel 473,990 415,075 415,785 710 377,888 Materials and supplies 25,525 25,525 23,076 (2,449) 19,924 Operation and contractual 2,850 2,850 3,933 1,083 1,876 Total police general support 502,365 443,450 442,794 (656) 399,688 Police investigations Personnel 944,770 970,070 962,450 (7,620) 979,733 Materials and supplies 13,400 13,400 7,507 (5,893) 11,780 .., Operation and contractual 30,110 26,910 25,656 (1,254) 18,410 Capital outlay 13,220 13,220 12,619 (601) - Total police investigations 1,001,500 1,023,600 1,008,232 (15,368) 1,009,923 .. Police communications center Personnel 434,525 342,625 331,382 (11,243) 580,081 Materials and supplies 30,700 20,200 17,844 (2,356) 2,902 •. Operation and contractual 398,200 395,400 395,287 (113) 174,741 Total police communications center 863,425 758,225 744,513 (13,712) 757,724 Police records Personnel 169,720 151,120 154,036 2,916 117,169 Materials and supplies 15,050 18,050 14,122 (3,928) 3,454 Operation and contractual 17,850 17,850 14,618 (3,232) 17,357 Capital outlay 95,000 105,050 105,854 804 - Total police records 297,620 292,070 288,630 (3,440) 137,980 (This schedule is continued on the following pages.) - 72 - 1 LVILLAGE OF OAK BROOK,ILLINOIS LGENERAL FUND SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL(Continued) L For the Year Ended December 31,2012 (With Comparative Actual) L 2012 Variance Original Final Over 2011 LBudget Budget Actual (Under) Actual PUBLIC SAFETY(Continued) Police department(Continued) Public relations/crime prevention Personnel $ 25,310 $ 18,210 $ 15,087 $ (3,123) $ 20,234 Materials and supplies 300 300 - (300) - Operation and contractual 21,600 16,350 13,415 (2,935) 12,850 Capital outlay 23,000 - - - - r.. Total public relations/crime prevention 70,210 34,860 28,502 (6,358) 33,084 Total police department 7,288,735 7,328,135 7,278,578 (49,557) 6,555,829 Fire department Fire,rescue and EMS operations Personnel 4,349,605 4,416,630 4,414,116 (2,514) 4,182,968 Materials and supplies 39,675 39,675 36,108 (3,567) 39,984 Operation and contractual 240,440 240,440 241,463 1,023 162,239 Capital 28,505 28,505 29,297 792 26,186 i I l.. Total fire,rescue and EMS opeartions 4,658,225 4,725,250 4,720,984 (4,266) 4,411,377 Fire service management Personnel 339,650 301,860 295,900 (5,960) 286,861 ..� Materials and supplies 6,150 6,150 5,569 (581) 623 Operation and contractual 7,350 7,350 7,122 (228) 6,089 Total fire service management 353,150 315,360 308,591 (6,769) 293,573 Special teams operations Materials and supplies 5,000 5,000 4,102 (898) 7,498 Operation and contractual 6,645 6,645 5,029 (1,616) 4,460 Total special teams operations 11,645 11,645 9,131 (2,514) 11,958 Rescue and fire training 6. Personnel 31,065 29,650 29,881 231 18,889 Materials and supplies 450 450 - (450) - Total rescue and fire training 31,515 30,100 29,881 (219) 18,889 Emergency medical services Personnel 40,685 20,865 19,910 (955) 29,163 Materials and supplies 16,460 16,460 15,748 (712) 13,968 Operation and contractual 568,300 548,300 546,519 (1,781) 430,646 Total emergency medical services 625,445 585,625 582,177 (3,448) 473,777 L Total fire department 5,679,980 5,667,980 5,650,764 (17,216) 5,209,574 LTotal public safety 12,968,715 12,996,115 12,929,342 (66,773) 11,765,403 L (This schedule is continued on the following pages.) - 73 - 7 VILLAGE OF OAK BROOK,ILLINOIS GENERALFUND SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL(Continued) For the Year Ended December 31,2012 ' (With Comparative Actual) .r 2012 Variance Original Final Over 2011 Budget Budget Actual (Under) Actual PUBLIC WORKS Mosquito control ~ Operation and contractual $ 63,835 $ 63,835 $ 63,549 $ (286) $ 63,639 ! Total mosquito control 63,835 63,835 63,549 (286) 63,639 Buildings and grounds Personnel 92,725 92,725 78,522 (14,203) 74,977 Materials and supplies 40,270 40,270 34,585 (5,685) 35,398 Operation and contractual 255,790 255,790 190,463 (65,327) 173,855 Total buildings and grounds 388,785 388,785 303,570 (85,215) 284,230 Forestry Personnel 20,075 20,075 12,033 (8,042) 9,330 Materials and supplies 1,795 1,795 1,160 (635) 252 Operation and contractual 173,355 165,155 116,583 (48,572) 182,596 .r Total forestry 195,225 187,025 129,776 (57,249) 192,178 Total public works 647,845 639,645 496,895 (142,750) 540,047 ^ CULTURE AND RECREATION Library general operations Personnel 342,045 342,045 334,734 (7,311) 303,584 Materials and supplies 21,150 21,150 19,396 (1,754) 11,771 Operation and contractual 88,790 84,590 73,369 (11,221) 87,878 Capital outlay 5,000 5,000 5,000 - Total library general operations 456,985 452,785 432,499 (20,286) 403,233 Library technical services Personnel 130,515 130,515 111,566 (18,949) 143,233 ^ Materials and supplies 3,290 3,290 3,266 (24) 3,002 Operation and contractual 8,875 8,875 8,816 (59) 9,072 Total library technical services 142,680 142,680 123,648 (19,032) 155,307 ^ Library reference and adult services Personnel 153,280 153,280 148,671 (4,609) 141,171 Materials and supplies 103,415 103,415 103,196 (219) 99,008 Operation and contractual 2,800 2,800 2,802 2 2,377 Total library reference and adult services 259,495 259,495 254,669 (4,826) 242,556 (This schedule is continued on the following page.) - 74 - LVILLAGE OF OAK BROOK,ILLINOIS GENERAL FUND SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL(Continued) i For the Year Ended December 31,2012 (With Comparative Actual) 2012 Variance Original Final Over 2011 Budget Budget Actual (Under) Actual !fir CULTURE AND RECREATION(Continued) Library youth services Personnel $ 50,220 $ 54,420 $ 54,651 $ 231 $ 46,876 Materials and supplies 30,250 30,250 29,942 (308) 29,035 Operation and contractual 1,500 1,500 1,480 (20) 1,501 Total library youth services 81,970 86,170 86,073 (97) 77,412 � J Total culture and recreation 941,130 941,130 896,889 (44,241) 878,508 DEBT SERVICE 1... Principal 250,000 250,000 250,000 - 245,000 Interest and fiscal charges 45,005 45,005 45,003 (2) 49,903 I Total debt service 295,005 295,005 295,003 (2) 294,903 J ` TOTAL EXPENDITURES $ 19,042,030 $ 19,042,030 $ 18,790,987 $ (251.043) $ 17,049,608 f L L L L (See indepedent auditor's report.) - 75 - VILLAGE OF OAK BROOK,ILLINOIS INFRASTRUCTURE FUND + SCHEDULE OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCE-BUDGET AND ACTUAL For the Year Ended December 31,2012 (With Comparative Actual) 2012 Variance Original Final Over 2011 Budget Budget Actual (Under) Actual r REVENUES Intergovernmental-grants $ 562,000 $ 562,000 $ - $ (562,000) $ 684,515 Non-home rule sales tax 4,815,000 4,815,000 5,230,137 415,137 4,833,972 Investment income 3,500 3,500 9,256 5,756 2,965 Miscellaneous - - 5,380 5,380 78 Total revenues 5,380,500 5,380,500 5,244,773 (135,727) 5,521,530 .� EXPENDITURES Public works Geographic information systems Personnel 1,050 1,050 - (1,050) - +� Materials and supplies 3,000 3,000 627 (2,373) 476 Operation and contractual 143,000 143,000 136,604 (6,396) 142,264 Total geographic informations stems 147,050 147,050 137,231 (9,819) 142,740 .r Management Personnel 295,360 295,360 294,183 (1,177) 286,183 Materials and supplies 5,595 5,595 2,553 (3,042) 1,509 Operation and contractual 163,980 177,980 177,700 (280) 151,617 Total management 464,935 478,935 474,436 (4,499) 439,309 Streets-general salaries Personnel 641,400 641,400 633,279 (8,121) 630,972 Materials and supplies 4,120 4,120 2,187 (1,933) 3,174 Operation and contractual 3,120 3,120 3,077 (43) 2,488 .�► Total streets-general salaries 648,640 648,640 638,543 (10,097) 636,634 Streets and traffic maintenance _ Materials and supplies 42,900 42,900 32,941 (9,959) 13,076 Operation and contractual 335,570 321,570 262,040 (59,530) 268,445 Total streets and traffic maintenance 378,470 364,470 294,981 (69,489) 281,521 Snow removal Personnel 64,150 64,150 25,384 (38,766) 32,152 - Materials and supplies 115,970 115,970 91,054 (24,916) 82,713 Operation and contractual 65,980 65,980 59,980 (6,000) 64,200 Total snow removal 246,100 246,100 176,418 (69,682) 179,065 Drainage maintenance Materials and supplies 20,000 20,000 17,424 (2,576) 11,915 Operation and contractual 118,130 118,130 72,791 (45,339) 63,102 Total drainage maintenance 138,130 138,130 90,215 (47,915) 75,017 Safety pathway maintenance Materials and supplies 100,000 100,000 17,886 (82,114) 182 Operation and contractual 23,995 23,995 24,125 130 24,280 Total safety pathway maintenance 123,995 123,995 42,011 (81,984) 24,462 (This schedule is continued on the following page.) - 76 - LVILLAGE OF OAK BROOK,ILLINOIS INFRASTRUCTURE FUND SCHEDULE OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCE-BUDGET AND ACTUAL(Continued) L For the Year Ended December 31,2012 (With Comparative Actual) 2012 Variance Original Final Over 2011 Budget Budget Actual (Under) Actual EXPENDITURES(Continued) Engineering and capital projects Engineering Personnel $ 391,880 $ 391,880 $ 392,672 $ 792 $ 375,169 t- Materials and supplies 4,120 4,120 686 (3,434) 95 Operation and contractual 98,640 98,640 57,495 (41,145) 8,908 Total engineering 494,640 494,640 450,853 (43,787) 384,172 Roadway improvements Operation and contractual 375,000 375,000 209,506 (165,494) 165,125 Intergovernmental agreements 4,015,002 4,015,002 2,093,247 (1,921,755) 1,951,521 Total roadway improvements 4,390,002 4,390,002 2,302,753 (2,087,249) 2,116,646 Stormwater management improvements Operation and contractual - - 1,000 1,000 25,885 Total stormwater management improvements - - 1,000 1,000 25,885 Note payment 1,501,163 1,501,163 1,501,163 - 1,501,163 v.. Expenditure reimbursement paid to other funds 108,000 108,000 108,000 - 104,475 Subtotal expenditures 8,641,125 8,641,125 6,217,604 (2,423,521) 5,911,089 Less reimbursements from other funds (506,605) (506,605) (506,605) - (911,785) ' Total expenditures 8,134,520 8,134,520 5,710,999 (2,423,521) 4,999,304 NET CHANGE IN FUND BALANCE $ (2,754,020) $ (2,754,020) (466,226) $ 2,287,794 522,226 FUND BALANCE,JANUARY 1 5,864,870 5,342,644 FUND BALANCE,DECEMBER 31 $ 5,398,644 $ 5,864,870 i L i L (See independent auditor's report.) ... - 77 - NONMAJOR GOVERNMENTAL FUNDS NONMAJOR GOVERNMENTAL FUNDS Special Revenue Funds Hotel/Motel Tax Fund-to account for local hotel/motel tax receipts restricted for promoting tourism and conventions in the Village. Motor Fuel Tax Fund-to account for state gasoline tax allocations restricted for local roadway program expenditures. Foreign Fire Insurance Tax Fund-to account for foreign fire insurance tax revenue restricted for the purchase of items for the benefit of the fire department. w Capital Projects Fund Promenade TIF Fund-to account for the revenues and expenditures restricted to the Tax Increment Financing District located at 22nd Street and Meyers Road. .a VILLAGE OF OAK BROOK,ILLINOIS MEN NONMAJOR GOVERNMENTAL FUNDS COMBINING BALANCE SHEET December 31,2012 Capital Special Revenue Funds Projects Fund Total Foreign Fire Nonmajor Hotel/Motel Motor Insurance Promenade Governmental Tax Fuel Tax Tax TIF Funds ASSETS Cash and investments $ 2,699,121 $ 677,377 $ 233,204 $ 221,926 $ 3,831,628 Receivables Allotments - 16,318 - - 16,318 Other,hotel/motel tax 102,579 - - - 102,579 Accrued interest 1,376 423 - - 1,799 TOTAL ASSETS $ 2,803,076 $ 694,118 $ 233,204 $ 221,926 $ 3,952,324 LIABILITIES AND FUND BALANCES LIABILITIES Accounts payable $ 27,841 $ - $ - $ - $ 27,841 Total liabilities 27,841 - - - 27,841 j FUND BALANCES Restricted Highways and streets - 694,118 - - 694,118 �. Public safety - - 233,204 - 233,204 Culture and recreation 2,775,235 - - - 2,775,235 Economic development - - - 221,926 221,926 .. Total fund balances 2,775,235 694,118 233,204 221,926 3,924,483 TOTAL LIABILITIES AND FUND BALANCES $ 2,803,076 $ 694,118 $ 233,204 $ 221,926 $ 3,952,324 r. (See independent auditor's report.) - 78 - J LVILLAGE OF OAK BROOK,ILLINOIS LNONMAJOR GOVERNMENTAL FUNDS COMBINING STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES L For the Year Ended December 31,2012 low1 Capital Special Revenue Funds Projects Fund Total Foreign Fire Nonmajor Hotel/Motel Motor Fuel Insurance Promenade Governmental ` Tax Tax Tax TIF Funds L• REVENUES Intergovernmental $ - $ 230,030 $ 113,169 $ 437,747 $ 780,946 Hotel/motel taxes 940,008 - - - 940,008 Investment income 5,075 1,346 157 99 6,677 Total revenues 945,083 231,376 113,326 437,846 1,727,631 ftw EXPENDITURES Current General government - - - 5,003 5,003 Public safety - - 86,685 - 86,685 Culture and recreation 741,974 - - - 741,974 Debt service Principal - - - 91,000 91,000 Interest and fiscal charges - - - 330,039 330,039 Total expenditures 741,974 - 86,685 426,042 1,254,701 NET CHANGE IN FUND BALANCES 203,109 231,376 26,641 11,804 472,930 FUND BALANCES,JANUARY 1 2,572,126 462,742 206,563 210,122 3,451,553 �• FUND BALANCES,DECEMBER 31 $ 2,775,235 $ 694,118 $ 233,204 $ 221,926 $ 3,924,483 i L 1 L i (See independent auditor's report.) ... - 79 - VILLAGE OF OAK BROOK,ILLINOIS HOTEL/MOTEL TAX FUND SCHEDULE OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCE-BUDGET AND ACTUAL .•. For the Year Ended December 31,2012 (With Comparative Actual) 2012 -� Variance Original Final Over 2011 Budget Budget Actual (Under) Actual REVENUES Hotel/motel taxes $ 780,280 $ 780,280 $ 940,008 $ 159,728 $ 853,638 Investment income 3,500 3,500 5,075 1,575 2,238 Total revenues 783,780 783,780 945,083 161,303 855,876 EXPENDITURES Current Culture and recreation 599,750 599,750 347,974 (251,776) 351,869 Expenditure reimbursement paid to other funds 394,000 394,000 394,000 - 339,000 Total expenditures 993,750 993,750 741,974 (251,776) 690,869 .. NET CHANGE IN FUND BALANCE $ (209,970) $ (209,970) 203,109 $ 413,079 165,007 FUND BALANCE,JANUARY 1 2,572,126 2,407,119 _ FUND BALANCE,DECEMBER 31 $ 2,775,235 $ 2,572,126 (See independent auditor's report.) - 80 - VILLAGE OF OAK BROOK,ILLINOIS MOTOR FUEL TAX FUND w SCHEDULE OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCE-BUDGET AND ACTUAL w For the Year Ended December 31,2012 (With Comparative Actual) L. 2012 Variance Original Final Over 2011 Budget Budget Actual (Under) Actual REVENUES Intergovernmental $ 255,500 $ 255,500 $ 230,030 $ (25,470) $ 245,403 Investment income 1,000 1,000 1,346 346 685 Total revenues 256,500 256,500 231,376 (25,124) 246,088 r. EXPENDITURES Current None - - - - - Expenditure reimbursement paid to other funds - - - - 660,000 Total expenditures - - - - 660,000 s. NET CHANGE IN FUND BALANCE $ 256,500 $ 256,500 231,376 $ (25,124) (413,912) r... FUND BALANCE,JANUARY 1 462,742 876,654 FUND BALANCE,DECEMBER 31 $ 694,118 $ 462,742 i L L.. a.. L.. f.. (See independent auditor's report.) -- - 81 - VILLAGE OF OAK BROOK,ILLINOIS FOREIGN FIRE INSURANCE TAX FUND SCHEDULE OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCE-BUDGET AND ACTUAL For the Year Ended December 31,2012 (With Comparative Actual) 2012 Variance Original Final Over 2011 - Budget Budget Actual (Under) Actual REVENUES Intergovernmental $ 50,000 $ 50,000 S 113,169 $ 63,169 $ 49,902 Investment income 400 400 157 (243) 203 Total revenues 50,400 50,400 113,326 62,926 50,105 EXPENDITURES Current Public safety 89,525 89,525 86,685 (2,840) 15,814 Total expenditures 89,525 89,525 86,685 (2,840) 15,814 NET CHANGE IN FUND BALANCE $ (39,125) $ (39,125) 26,641 $ 65,766 34,291 FUND BALANCE,JANUARY 1 206,563 172,272 - FUND BALANCE,DECEMBER 31 $ 233,204 $ 206,563 (See independent auditor's report.) - 82 - LVILLAGE OF OAK BROOK,ILLINOIS LPROMENADE TIF FUND SCHEDULE OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCE-BUDGET AND ACTUAL 1 LFor the Year Ended December 31,2012 (With Comparative Actual) L 2012 Variance L.. Original Final Over 2011 Budget Budget Actual (Under) Actual REVENUES L Property tax $ 345,000 $ 345,000 $ 361,973 $ 16,973 $ 342,240 Sales tax 72,800 72,800 75,774 2,974 72,542 I Investment income 25 25 99 74 57 1 Total revenues 417,825 417,825 437,846 20,021 414,839 1 EXPENDITURES LCurrent General government 5,265 5,265 5,003 (262) 4,363 Debt service j Principal 79,885 79,885 91,000 11,115 80,924 L Interest and fiscal charges 330,115 330,115 330,039 (76) 336,356 Total expenditures 415,265 415,265 426,042 10,777 421,643 NET CHANGE IN FUND BALANCE $ 2,560 $ 2,560 11,804 $ 9,244 (6,804) FUND BALANCE,JANUARY 1 210,122 216,926 L FUND BALANCE,DECEMBER 31 $ 221,926 $ 210,122 L.. 6- i.. 1✓ (See independent auditor's report.) - 83 - PROPRIETARY FUNDS w MAJOR ENTERPRISE FUNDS Waterworks System Fund-to account for revenues and expenses relative to the operation of the water utility. Sports Core Fund-to account for revenues and expenses relative to the operation of the Oak Brook Sports Core. .. VILLAGE OF OAK BROOK,ILLINOIS WATERWORKS SYSTEM FUND SCHEDULE OF REVENUES,EXPENSES AND CHANGES IN NET POSITION-BUDGET AND ACTUAL ... For the Year Ended December 31,2012 (With Comparative Actual) 2012 .-. Variance Original Final Over 2011 Budget Budget Actual (Under) Actual OPERATING REVENUES Charges for services Water sales $ 6,200,000 $ 6,200,000 $ 6,605,133 $ 405,133 $ 5,122,446 Unmetered sales 25,000 25,000 27,344 2,344 25,429 Water tap on charges 25,000 25,000 11,040 (13,960) 10,263 Meter fees and special services 33,000 33,000 43,201 10,201 37,016 Miscellaneous 62,500 62,500 81,307 18,807 65,770 Total operating revenues 6,345,500 6,345,500 6,768,025 422,525 5,260,924 OPERATING EXPENSES Operation of facilities 7,221,955 7,221,955 5,127,796 (2,094,159) 4,335,455 Depreciation and amortization - - 543,348 543,348 492,893 Total operating expenses 7,221,955 7,221,955 5,671,144 (1,550,811) 4,828,348 _ OPERATING INCOME(LOSS) (876,455) (876,455) 1,096,881 1,973,336 432,576 .� NONOPERATING REVENUES (EXPENSES) Investment income 12,000 12,000 5,609 (6,391) 6,574 Grants - - - - 4,556 Gain(loss)on sale of capital assets - - (10,577) (10,577) (18,534) Total nonoperating revenues (expenses) 12,000 12,000 (4,968) (16,968) (7,404) CHANGE IN NET POSITION $ (864,455) $ (864,455) 1,091,913 $ 1,956,368 425,172 NET POSITION,JANUARY 1 19,491,449 19,066,277 NET POSITION,DECEMBER 31 $ 20,583,362 $ 19,491,449 (See independent auditor's report.) - 84 - i VILLAGE OF OAK BROOK,ILLINOIS jj WATERWORKS SYSTEM FUND SCHEDULE OF OPERATING EXPENSES-BUDGET AND ACTUAL LFor the Year Ended December 31,2012 (With Comparative Actual) 2012 Variance L Original Final Over 2011 Budget Budget Actual (Under) Actual OPERATING EXPENSES l_ EXCLUDING DEPRECIATION Operation of facilities Public works-water operations Personnel $ 753,280 $ 753,280 $ 743,720 $ (9,560) $ 718,264 Materials and supplies 98,615 312,715 138,651 (174,064) 142,228 Operation and contractual 4,038,335 4,023,235 3,902,700 (120,535) 2,903,258 Reimbursements for general �— fund services 342,725 342,725 342,725 - 571,705 Total public works-water operations 5,232,955 5,431,955 5,127,796 (304,159) 4,335,455 Capital improvements Capital outlay 1,989,000 1,790,000 1,631,188 (158,812) 2,083,383 k.. Total capital improvements 1,989,000 1,790,000 1,631,188 (158,812) 2,083,383 TOTAL OPERATING EXPENSES EXCLUDING DEPRECIATION- BUDGETARY BASIS $ 7,221,955 $ 7,221,955 6,758,984 $ (462,971) 6,418,838 ADJUSTMENTS TO GAAP BASIS Capital expenditures (1,631,188) (2,083,383) Depreciation and amortization expense 543,348 492,893 Total adjustments to GAAP basis (1,087,840) (1,590,490) TOTAL OPERATING EXPENSES $ 5,671,144 $ 4,828,348 V (See independent auditor's report.) �— - 85 - VILLAGE OF OAK BROOK,ILLINOIS SPORTS CORE FUND .. SCHEDULE OF REVENUES,EXPENSES AND CHANGES IN NET POSITION-BUDGET AND ACTUAL �• For the Year Ended December 31,2012 (With Comparative Actual) 2012 Variance Original Final Over 2011 Budget Budget Actual (Under) Actual .. OPERATING REVENUES Charges for services Golf $ 2,099,620 $ 2,099,620 $ 1,921,729 $ (177,891) $ 1,799,559 Bath and tennis 705,355 705,355 779,462 74,107 676,525 Food and beverage 505,560 505,560 477,020 (28,540) 376,689 Total operating revenues 3,310,535 3,310,535 3,178,211 (132,324) 2,852,773 OPERATING EXPENSES Golf club 1,881,455 1,916,630 1,767,308 (149,322) 1,669,117 Bath and tennis 748,630 751,515 720,535 (30,980) 657,951 Food and beverage 671,400 633,340 492,331 (141,009) 528,102 Depreciation - - 272,674 272,674 250,695 .. Total operating expenses 3,301,485 3,301,485 3,252,848 (48,637) 3,105,865 OPERATING INCOME(LOSS) 9,050 9,050 (74,637) (83,687) (253,092) NONOPERATING REVENUES (EXPENSES) •. Investment income 900 900 473 (427) (164) Grants - - 3,525 3,525 5,386 Gain on sale of capital assets - - 63,301 63,301 - MM Interest expense (4,000) (4,000) (4,999) (999) (6,837) Total nonoperating revenues (expenses) (3,100) (3,100) 62,300 65,400 (1,615) �. CHANGE IN NET POSITION $ 5,950 $ 5,950 (12,337) $ (18,287) (254,707) NET POSITION,JANUARY 1 10,099,640 10,354,347 NET POSITION,DECEMBER 31 $ 10,087,303 $ 10,099,640 (See independent auditor's report.) - 86 - LVILLAGE OF OAK BROOK,ILLINOIS LSPORTS CORE FUND SCHEDULE OF OPERATING REVENUES-BUDGET AND ACTUAL LFor the Year Ended December 31,2012 (With Comparative Actual) L 2012 Variance L Original Final Over 2011 Budget Budget Actual (Under) Actual L CHARGES FOR SERVICES Golf Fees $ 1,537,520 $ 1,537,520 $ 1,419,147 $ (118,373) $ 1,255,994 Golf surcharge 120,000 120,000 115,915 (4,085) 105,594 Memberships 235,600 235,600 188,085 (47,515) 235,414 Merchandise sales 206,500 206,500 198,582 (7,918) 202,557 Total golf 2,099,620 2,099,620 1,921,729 (177,891) 1,799,559 Bath and tennis Fees 447,990 447,990 505,441 57,451 435,336 Memberships 254,565 254,565 271,229 16,664 240,982 Merchandise sales 1,000 1,000 210 (790) 93 Miscellaneous 1,800 1,800 2,582 782 114 Total bath and tennis 705,355 705,355 779,462 74,107 676,525 Food and beverage Food sales 180,360 180,360 166,296 (14,064) 154,384 Beverage sales 200,200 200,200 199,166 (1,034) 173,006 Miscellaneous 125,000 125,000 111,558 (13,442) 49,299 Total food and beverage 505,560 505,560 477,020 (28,540) 376,689 TOTAL OPERATING REVENUES $ 3,310,535 $ 3,310,535 $ 3,178,211 $ (132,324) $ 2,852,773 i i.. (See independent auditor's report.) - 87 - VILLAGE OF OAK BROOK,ILLINOIS SPORTS CORE FUND SCHEDULE OF OPERATING EXPENSES-BUDGET AND ACTUAL For the Year Ended December 31,2012 (With Comparative Actual) 2012 Variance Original Final Over 2011 Budget Budget Actual (Under) Actual OPERATING EXPENSES EXCLUDING DEPRECIATION Operations-golf club Golf club general operations Personnel $ 448,740 $ 469,740 $ 465,100 $ (4,640) $ 403,868 Materials and supplies 178,390 202,790 191,805 (10,985) 171,537 Operation and contractual 115,795 130,245 129,078 (1,167) 199,493 Capital outlay 22,500 200 20,055 19,855 14,945 .. Total golf club general operations 765,425 802,975 806,038 3,063 789,843 Golf club range operations .. Personnel 73,525 63,900 54,348 (9,552) 41,718 Materials and supplies 17,000 17,000 11,340 (5,660) 10,689 Operation and contractual 14,700 14,700 14,269 (431) 13,801 .v Total golf club range operations 105,225 95,600 79,957 (15,643) 66,208 Golf cart operations Personnel 34,610 12,460 9,566 (2,894) 13,160 Materials and supplies 1,400 1,400 1,345 (55) 70 Operation and contractual 68,500 68,500 3,102 (65,398) 3,542 .. Capital outlay - - 307,997 307,997 - Total golf cart operations 104,510 82,360 322,010 239,650 16,772 Golf course maintenance Personnel 626,730 626,730 625,794 (936) 593,875 Materials and supplies 211,765 235,645 230,665 (4,980) 184,733 Operation and contractual 27,800 33,320 30,896 (2,424) 32,631 Capital outlay 40,000 40,000 36,900 (3,100) 34,244 Total golf course maintenance 906,295 935,695 924,255 (11,440) 845,483 dM Total operations-golf club 1,881,455 1,916,630 2,132,260 215,630 1,718,306 (This schedule is continued on the following pages.) - 88 - LVILLAGE OF OAK BROOK,ILLINOIS LSPORTS CORE FUND SCHEDULE OF OPERATING EXPENSES-BUDGET AND ACTUAL(Continued) L For the Year Ended December 31,2012 (With Comparative Actual) L 2012 Variance L Original Final Over 2011 Budget Budget Actual (Under) Actual k OPERATING EXPENSES EXCLUDING L DEPRECIATION(Continued) Operations-bath and tennis General operations-Sports Core, Polo and Open Fields L Personnel $ 68,915 $ 78,705 $ 86,363 $ 7,658 $ 136,049 Materials and supplies 25,250 21,400 15,499 (5,901) 9,565 Operation and contractual 394,875 455,920 456,591 671 330,997 Capital outlay 18,000 - - - 17,946 Subtotal general operations-sports core, polo and open fields 507,040 556,025 558,453 2,428 494,557 'L Less reimbursements from other funds (111,215) (111,215) (115,433) (4,218) (104,273) Total general operations -sports core, polo and open fields 395,825 444,810 443,020 (1,790) 390,284 Swimming operations Personnel 31,220 31,220 25,200 (6,020) 14,001 Materials and supplies 32,175 47,175 40,505 (6,670) 27,805 Operation and contractual 130,560 124,260 115,099 (9,161) 145,469 Capital outlay 55,000 200 24,650 24,450 - Total swimming operations 248,955 202,855 205,454 2,599 187,275 Tennis operations-outdoor Personnel 70,940 70,940 68,063 (2,877) 71,090 Materials and supplies 9,550 9,550 7,250 (2,300) 6,519 Operation and contractual 23,360 23,360 21,398 (1,962) 20,729 Total tennis operations-outdoor 103,850 103,850 96,711 (7,139) 98,338 Total operations-bath and tennis 748,630 751,515 745,185 (6,330) 675,897 Food and beverage Clubhouse `., Personnel 81,425 45,555 45,407 (148) 48,948 Materials and supplies 2,950 2,950 2,407 (543) 12,356 Operation and contractual 61,880 66,670 65,929 (741) 72,715 Debt service-principal 125,000 125,000 125,000 - 100,000 Capital outlay 25,000 2,470 21,078 18,608 13,132 LTotal clubhouse 296,255 242,645 259,821 17,176 247,151 (This schedule is continued on the following page.) �- - 89 - VILLAGE OF OAK BROOK,ILLINOIS SPORTS CORE FUND ... SCHEDULE OF OPERATING EXPENSES-BUDGET AND ACTUAL(Continued) For the Year Ended December 31,2012 (With Comparative Actual) 2012 Variance Original Final Over 2011 Budget Budget Actual (Under) Actual OPERATING EXPENSES EXCLUDING DEPRECIATION(Continued) Food and beverage(Continued) Poolside grill Personnel $ 26,910 $ 7,910 $ 6,346 $ (1,564) $ 13,366 Materials and supplies 30,550 35,550 30,998 (4,552) 31,118 Operation and contractual 6,800 6,800 1,804 (4,996) 6,435 Capital outlay - - - - 11,680 .. Total poolside grill 64,260 50,260 39,148 (11,112) 62,599 Golf clubhouse Personnel 152,560 159,560 160,969 1,409 166,920 Materials and supplies 145,900 172,100 169,637 (2,463) 151,455 Operation and contractual 12,425 8,775 8,834 59 24,789 .� Capital outlay - - 29,550 29,550 - Total golf clubhouse 310,885 340,435 368,990 28,555 343,164 Total food and beverage 671,400 633,340 667,959 34,619 652,914 TOTAL OPERATING EXPENSES- BUDGETARY BASIS $ 3,301,485 $ 3,301,485 3,545,404 $ 243,919 3,047,117 ADJUSTMENTS TO GAAP BASIS Capital expenditures (440,230) (91,947) Depreciation expense 272,674 250,695 Debt service-principal (125,000) (100,000) Total adjustments to GAAP basis (292,556) 58,748 TOTAL OPERATING EXPENSES $ 3,252,848 $ 3,105,865 (See independent auditor's report.) - 90 - - INTERNAL SERVICE FUNDS Self-Insurance Fund-to account for all costs associated with self-insurance risks for employee health and dental insurance. Garage Fund- to account for all costs associated with the operation and maintenance of the Village's vehicle fleet equipment. Capital Replacement Fund-to account for revenues and expenses relative to the replacement of major capital equipment, primarily vehicles. VILLAGE OF OAK BROOK,ILLINOIS INTERNAL SERVICE FUNDS .. COMBINING STATEMENT OF NET POSITION December 31,2012 Self- Capital Insurance Garage Replacement Total CURRENT ASSETS Cash and investments $ 581,942 $ 25,504 $ 2,731,432 $ 3,338,878 Receivables Accrued interest - - 6,708 6,708 Other 49,602 4,228 - 53,830 Inventories - 48,509 - 48,509 Prepaid expenses 18,166 - - 18,166 Total current assets 649,710 78,241 2,738,140 3,466,091 CAPITAL ASSETS Depreciable,net of accumulated depreciation - 114,777 2,397,538 2,512,315 Net capital assets - 114,777 2,397,538 2,512,315 Total assets 649,710 193,018 5,135,678 5,978,406 CURRENT LIABILITIES Accounts payable 451,882 68,124 - 520,006 Accrued payroll 2,998 5,218 - 8,216 Compensated absences payable - 13,069 - 13,069 Unearned revenue 42,936 - - 42,936 Claims payable 176,970 - - 176,970 Total current liabilities 674,786 86,411 - 761,197 NET POSITION Net investment in capital assets - 114,777 2,397,538 2,512,315 Unrestricted (25,076) (8,170) 2,738,140 2,704,894 TOTAL NET POSITION $ (25,076) $ 106,607 $ 5,135,678 $ 5,217,209 .. (See independent auditor's report.) - 91 - VILLAGE OF OAK BROOK,ILLINOIS INTERNAL SERVICE FUNDS L.. COMBINING STATEMENT OF REVENUES,EXPENSES f AND CHANGES IN NET POSITION For the Year Ended December 31,2012 L. Self- Capital LInsurance Garage Replacement Total OPERATING REVENUES L Charges for services $ 2,571,323 $ 725,045 $ 335,490 $ 3,631,858 Total operating revenues 2,571,323 725,045 335,490 3,631,858 LOPERATING EXPENSES Claims and insurance 3,104,327 - - 3,104,327 Garage operations - 690,521 - 690,521 �. Miscellaneous - - 5,064 5,064 Depreciation - 10,448 371,025 381,473 Total operating expenses 3,104,327 700,969 376,089 4,181,385 OPERATING INCOME(LOSS) (533,004) 24,076 (40,599) (549,527) NONOPERATING REVENUES(EXPENSES) Investment income 759 17 10,580 11,356 Miscellaneous income - 2,238 - 2,238 Gain on sale of capital assets - - 71,058 71,058 Total nonoperating revenues(expenses) 759 2,255 81,638 84,652 6.. INCOME(LOSS)BEFORE TRANSFERS (532,245) 26,331 41,039 (464,875) TRANSFERS(OUT) (275,000) - - (275,000) CHANGE IN NET POSITION (807,245) 26,331 41,039 (739,875) i NET POSITION,JANUARY 1 782,169 80,276 5,094,639 5,957,084 NET POSITION,DECEMBER 31 $ (25,076) $ 106,607 $ 5,135,678 $ 5,217,209 L i I L (See independent auditor's report.) - 92 - 7 VILLAGE OF OAK BROOK,ILLINOIS INTERNAL SERVICE FUNDS 1 i COMBINING STATEMENT OF CASH FLOWS s For the Year Ended December 31,2012 Self- Capital Insurance Garage Replacement Total CASH FLOWS FROM OPERATING ACTIVITIES Receipts from internal services transactions $ 1,701,576 $ 720,817 $ 335,490 $ 2,757,883 Receipts from customers and users 852,124 - - 852,124 r Payments to suppliers (2,779,299) (432,918) (5,064) (3,217,281) Payments to employees - (231,399) - (231,399) Net cash from operating activities (225,599) 56,500 330,426 161,327 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Miscellaneous nonoperating receipts - 2,238 - 2,238 .. Interfund transfers (275,000) - - (275,000) Net cash from noneapital financing activities (275,000) 2,238 - (272,762) CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Purchase of capital assets - (40,498) (980,669) (1,021,167) .r Proceeds from sale of capital assets - - 76,943 76,943 Net cash from capital and .. related financing activities - (40,498) (903,726) (944,224) CASH FLOWS FROM INVESTING ACTIVITIES Purchase of investments - - (1,106,263) (1,106,263) Interest received 759 18 3,872 4,649 Net cash from investing activities 759 18 (1,102,391) (1,101,614) .� NET INCREASE(DECREASE)IN CASH AND CASH EQUIVALENTS (499,840) 18,258 (1,675,691) (2,157,273) .r CASH AND CASH EQUIVALENTS, JANUARY 1 1,081,782 7,246 2,572,032 3,661,060 CASH AND CASH EQUIVALENTS, DECEMBER 31 $ 581,942 $ 25,504 $ 896,341 $ 1,503,787 CASH AND INVESTMENTS ~ Cash and cash equivalents $ 581,942 $ 25,504 $ 896,341 $ 1,503,787 Investments - - 1,835,091 1,835,091 TOTAL CASH AND INVESTMENTS $ 581,942 $ 25,504 $ 2,731,432 $ 3,338,878 (This statement is continued on the following page.) - 93 - VILLAGE OF OAK BROOK,ILLINOIS LINTERNAL SERVICE FUNDS COMBINING STATEMENT OF CASH FLOWS(Continued) I For the Year Ended December 31,2012 LSelf- Capital Insurance Garage Replacement Total LRECONCILIATION OF OPERATING INCOME (LOSS)TO NET CASH FLOWS FROM OPERATING ACTIVITIES ' Operating income(loss) $ (533,004) $ 24,076 $ (40,599) $ (549,527) r„ Depreciation - 10,448 371,025 381,473 Adjustments to reconcile operating income (loss)to net cash from operating activities Changes in assets and liabilities Accounts receivable (15,901) (4,228) - (20,129) Inventories - (367) - (367) Accounts payable 254,558 24,270 - 278,828 Accrued payroll and compensated absences (3,521) 2,301 - (1,220) Unearned revenue 1,799 - - 1,799 Claims payable 70,470 - - 70,470 NET CASH FROM OPERATING ACTIVITIES $ (225,599) $ 56,500 S 330,426 $ 161,327 (See independent auditor's report.) - 94 - VILLAGE OF OAK BROOK,ILLINOIS SELF-INSURANCE FUND SCHEDULE OF REVENUES,EXPENSES AND CHANGES IN NET POSITION-BUDGET AND ACTUAL For the Year Ended December 31,2012 (With Comparative Actual) 2012 r Variance Original Final Over 2011 — Budget Budget Actual (Under) Actual .r OPERATING REVENUES Charges for services $ 2,785,000 $ 2,785,000 $ 2,571,323 $ (213,677) $ 2,555,494 Total operating revenues 2,785,000 2,785,000 2,571,323 (213,677) 2,555,494 OPERATING EXPENSES Claims and insurance Insurance and administration 671,200 671,200 669,596 (1,604) 551,986 Health claims 2,010,000 2,010,000 2,266,488 256,488 1,956,195 Dental claims 200,000 200,000 168,243 (31,757) 159,478 Total operating expenses 2,881,200 2,881,200 3,104,327 223,127 2,667,659 OPERATING INCOME(LOSS) (96,200) (96,200) (533,004) (436,804) (112,165) �+ NONOPERATING REVENUES (EXPENSES) Investment income 1,000 1,000 759 (241) 802 r Total nonoperating revenues (expenses) 1,000 1,000 759 (241) 802 .r INCOME(LOSS)BEFORE TRANSFERS (95,200) (95,200) (532,245) (437,045) (111,363) TRANSFERS(OUT) (275,000) (275,000) (275,000) - - CHANGE IN NET POSITION $ (370,200) $ (370,200) (807,245) $ (437,045) (111,363) .r NET POSITION,JANUARY 1 782,169 893,532 NET POSITION,DECEMBER 31 $ (25,076) $ 782,169 0M r r (See independent auditor's report.) - 95 - VILLAGE OF OAK BROOK,ILLINOIS GARAGEFUND I L SCHEDULE OF REVENUES,EXPENSES AND CHANGES IN NET POSITION-BUDGET AND ACTUAL For the Year Ended December 31,2012 (With Comparative Actual) i L 2012 Variance Original Final Over 2011 Budget Budget Actual (Under) Actual L OPERATING REVENUES Charges for services $ 725,045 $ 725,045 $ 725,045 $ $ 647,785 Total operating revenues 725,045 725,045 725,045 - 647,785 OPERATING EXPENSES EXCLUDING DEPRECIATION } Garage operations L Personnel 232,605 232,605 233,700 1,095 222,920 Materials and supplies 253,850 253,850 226,395 (27,455) 255,207 Operations and contractual 215,090 215,090 195,426 (19,664) 232,072 L Expense reimbursements paid to other funds 35,000 35,000 35,000 34,800 Capital outlay 29,000 29,000 40,498 11,498 14,339 Total operating expenses excluding depreciation 765,545 765,545 731,019 (34,526) 759,338 OPERATING INCOME(LOSS) (40,500) (40,500) (5,974) 34,526 (111,553) L NONOPERATING REVENUES (EXPENSES) Investment income 200 200 17 (183) 44 ... Miscellaneous income - - 2,238 2,238 - Total nonoperating revenues (expenses) 200 200 2,255 2,055 44 CHANGE IN NET POSITION- BUDGETARY BASIS $ 40,300) $ 40,300 (3,719) $ 36,581 (1 1 1,509) ` ADJUSTMENTS TO GAAP BASIS Capital expenditures 40,498 14,339 Depreciation expense (10,448) (9,154) 6- Total adjustments to GAAP basis 30,050 5,185 LCHANGE IN NET POSITION-GAAP BASIS 26,331 (106,324) NET POSITION,JANUARY 1 80,276 186,600 L NET POSITION,DECEMBER 31 $ 106,607 $ 80,276 L L (See independent auditor's report.) - 96 - VILLAGE OF OAK BROOK,ILLINOIS - CAPITAL REPLACEMENT FUND .., SCHEDULE OF REVENUES,EXPENSES AND CHANGES IN NET POSITION-BUDGET AND ACTUAL .� For the Year Ended December 31,2012 (With Comparative Actual) 2012 Variance Original Final Over 2011 Budget Budget Actual (Under) Actual OPERATING REVENUES Charges for services $ 335,490 $ 335,490 $ 335,490 $ - $ 177,150 Total operating revenues 335,490 335,490 335,490 - 177,150 OPERATING EXPENSES EXCLUDING DEPRECIATION Capital outlay 534,500 994,135 933,293 (60,842) 193,918 Miscellaneous - 5,100 5,064 (36) 295 Total operating expenses excluding depreciation 534,500 999,235 938,357 (60,878) 194,213 _ OPERATING INCOME(LOSS) (199,010) (663,745) (602,867) (60,878) (17,063) NONOPERATING REVENUES (EXPENSES) _ Investment income 12,500 12,500 10,580 (1,920) 5,241 Gain on sale of capital assets - - 71,058 71,058 - Total nonoperating revenues (expenses) 12,500 12,500 81,638 69,138 5,241 CHANGE IN NET POSITION- BUDGETARY BASIS $ (186,510) $ (651,245) (521,229) $ 130,016 (11,822) ADJUSTMENTS TO GAAP BASIS Capital expenditures 933,293 193,918 �.► Depreciation expense (371,025) (314,776) Total adjustments to GAAP basis 562,268 (120,858) CHANGE IN NET POSITION-GAAP BASIS 41,039 (132,680) NET POSITION,JANUARY 1 5,094,639 5,227,319 ,! NET POSITION,DECEMBER 31 $ 5,135,678 $ 5,094,639 r (See independent auditor's report.) - 97 - -- FIDUCIARY FUNDS PENSION TRUST FUNDS L Police Pension Fund-to account for the accumulation of resources to pay pension costs. ... Resources are contributed by sworn police personnel at rates fixed by state statutes and by the Village as a percentage of payroll based upon an annual actuarial valuation. Firefighters' Pension Fund -to account for the accumulation of resources to pay pension costs. Resources are contributed by sworn fire personnel at rates fixed by state statutes and by the Village as a percentage of payroll based upon an annual actuarial valuation. L L 4 I L.r VILLAGE OF OAK BROOK, ILLINOIS FIDUCIARY FUNDS COMBINING STATEMENT OF PLAN NET POSITION December 31, 2012 Pension Trust Police Firefighters' Pension Pension Total ASSETS Cash $ 159,952 $ 134,643 $ 294,595 -- Investments Illinois Funds 27,982 140,008 167,990 Money market mutual funds 1,334,117 875,037 2,209,154 U.S. Treasury securities 1,553,513 401,824 1,955,337 U.S. agency securities 7,454,349 5,644,216 13,098,565 _ State and local obligations 1,669,810 1,168,106 2,837,916 Corporate bonds 3,558,087 2,958,187 6,516,274 Mutual funds 12,145,874 11,950,044 24,095,918 Equities 1,791,513 - 1,791,513 Accrued interest receivable 119,433 92,668 212,101 Total assets 29,814,630 23,364,733 53,179,363 LIABILITIES Accounts payable 11,383 13,585 24,968 Total liabilities 11,383 13,585 24,968 NET POSITION HELD IN TRUST FOR PENSION PLAN BENEFITS $ 29,803,247 $ 23,351,148 $ 53,154,395 (See independent auditor's report.) - 98 - t VILLAGE OF OAK BROOK, ILLINOIS FIDUCIARY FUNDS COMBINING STATEMENT OF CHANGES IN PLAN NET POSITION �` For the Year Ended December 31, 2012 L Pension Trust i Police Firefighters' Pension Pension Total �.. ADDITIONS Contributions Employer $ 977,367 $ 1,001,528 $ 1,978,895 ti- Employee 483,678 261,795 745,473 Other 3,126 - 3,126 Total contributions 1,464,171 1,263,323 2,727,494 1 Investment income Net appreciation in fair value of investments 1,145,655 1,251,705 2,397,360 Interest 1,326,117 743,395 2,069,512 Total investment income 2,471,772 1,995,100 4,466,872 Less investment expense (819787) (64,838) (146,625) Net investment income 2,389,985 1,930,262 4,320,247 Total additions 39854,156 3,193,585 79047,741 DEDUCTIONS Benefits and refunds 1,940,356 1,959,549 3,899,905 ►,. Administrative 33,536 38,060 71,596 Total deductions 1,973,892 19997,609 3,971,501 NET INCREASE 1,880,264 1,195,976 3,076,240 I NET POSITION HELD IN TRUST FOR PENSION BENEFITS January 1 279922,983 22,155,172 50,078,155 December 31 $ 29,803,247 $ 23,351,148 $ 53,154,395 (See independent auditor's report.) �-- - 99 - VILLAGE OF OAK BROOK,ILLINOIS POLICE PENSION FUND SCHEDULE OF CHANGES IN PLAN NET POSITION-BUDGET AND ACTUAL For the Year Ended December 31,2012 (With Comparative Actual) 2012 Variance Original Final Over 2(X2 Budget Budget Actual (Under) Actual ADDITIONS Contributions Employer $ 711,460 $ 711,460 $ 977,367 $ 265,907 $ 674,170 Employee 333,000 333,000 483,678 150,678 315,143 Other - - 3,126 3,126 - Total contributions 1,044,460 1,044,460 1,464,171 419,711 989,313 .. Investment income Net appreciation(depreciation) in fair value of investments - - 1,145,655 1,145,655 (175,016) .. Interest 1,500,000 1,500,000 1,326,117 (173,883) 639,185 Total investment income 1,500,000 1,500,000 2,471,772 971,772 464,169 Less investment expense (75,000) (75,000) (81,787) (6,787) (79,494) Net investment income 1,425,000 1,425,000 2,389,985 964,985 384,675 Total additions 2,469,460 2,469,460 3,854,156 1,384,696 1,373,988 DEDUCTIONS Benefits and refunds 2,062,000 2,062,000 1,940,356 (121,644) 1,832,491 Administrative 40,915 40,915 33,536 (7,379) 39,871 Total deductions 2,102,915 2,102,915 1,973,892 (129,023) 1,872,362 NET INCREASE(DECREASE) $ 366,545 $ 366,545 1,880,264 $ 1,513,719 (498,374) NET POSITION HELD IN TRUST FOR PENSION BENEFITS January 1 27,922,983 28,421,357 December 31 $ 29,803,247 $ 27,922,983 •. r (See independent auditor's report.) - 100 - LVILLAGE OF OAK BROOK,ILLINOIS FIREFIGHTERS'PENSION FUND SCHEDULE OF CHANGES IN PLAN NET POSITION-BUDGET AND ACTUAL i L For the Year Ended December 31,2012 (With Comparative Actual) f L 2012 Variance Original Final Over 2011 Budget Budget Actual (Under) Actual L ADDITIONS Contributions Employer $ 864,120 $ 864,120 $ 1,001,528 $ 137,408 $ 995,110 Employee 254,000 254,000 261,795 7,795 290,706 L Total contributions 1,118,120 1,118,120 1,263,323 145,203 1,285,816 Investment income low Net appreciation(depreciation) in fair value of investments - - 1,251,705 1,251,705 (232,684) Interest 1,000,000 1,000,000 743,395 (256,605) 796,529 4.. Total investment income 1,000,000 1,000,000 1,995,100 995,100 563,845 Less investment expense (75,000) (75,000) (64,838) 10,162 (60,514) Net investment income 925,000 925,000 1,930,262 1,005,262 503,331 Total additions 2,043,120 2,043,120 3,193,585 1,150,465 1,789,147 DEDUCTIONS Benefits and refunds 1,997,500 1,997,500 1,959,549 (37,951) 1,876,005 e. Administrative 36,570 36,570 38,060 1,490 33,768 Total deductions 2,034,070 2,034,070 1,997,609 (36,461) 1,909,773 NET INCREASE(DECREASE) $ 9,050 $ 9,050 1,195,976 $ 1,186,926 (120,626) r NET POSITION HELD IN TRUST FOR PENSION BENEFITS January 1 22,155,172 22,275,798 December 31 $ 23,351,148 $ 22,155,172 (See independent auditor's report.) t- - 101 - 6- L` STATISTICAL SECTION This part of the Village of Oak Brook, Illinois comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements,note disclosures and required supplementary information says about the Village's overall financial health. i Contents Page L Financial Trends These schedules contain trend information to help the reader understand how .. the Village's financial performance and well-being have changed over time. 102-111 I Revenue Capacity These schedules contain information to help the reader assess the Village's ability to generate its property and sales taxes. 112-115 Debt Capacity These schedules present information to help the reader assess the affordability of the Village's current levels of outstanding debt and the Village's ability to issue additional debt in the future. 116-118 Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the Village's financial activities take place and to help make comparisons over time and with other governments. 119-126 Operating Information These schedules contain information about the Village's operations and resources to help the reader understand how the Village's financial .. information relates to the services the Village provides and the activities it performs. 127-130 +— Sources: Unless otherwise noted,the information in these schedules is derived from the comprehensive annual financial reports for the relevant year. .. VILLAGE OF OAK BROOK, ILLINOIS NET POSITION BY COMPONENT Last Ten Fiscal Years Fiscal Year 2003 2004 2005 2006 GOVERNMENTAL ACTIVITIES _ Invested in capital assets, net of related debt $ 61.9 $ 61.8 $ 63.3 $ 63.0 Restricted 1.1 0.9 0.6 - _ Unrestricted 15.7 15.8 16.2 17.7 TOTAL GOVERNMENT ACTIVITIES $ 78.7 $ 78.5 $ 80.1 $ 80.7 BUSINESS-TYPE ACTIVITIES Invested in capital assets, net of related debt $ 23.9 $ 24.0 $ 23.8 $ 23.3 Restricted - - - - Unrestricted 3.0 2.5 4.0 5.0 TOTAL BUSINESS-TYPE ACTIVITIES $ 26.8 $ 26.5 $ 27.8 $ 28.3 PRIMARY GOVERNMENT Net investment in capital assets $ 85.8 $ 85.8 $ 87.1 $ 86.3 Restricted 1.1 0.9 0.6 - Unrestricted 18.7 18.3 20.2 22.7 TOTAL PRIMARY GOVERNMENT $ 105.6 $ 105.0 $ 107.9 $ 109.0 Data Source Audited Financial Statements Data in millions •r - 102 - L 2007 2008 2009 2010 2011 2012 $ 62.4 $ 61.6 $ 60.6 $ 55.3 $ 56.2 $ 57.6 - 3.5 9.4 9.4 19.7 22.7 16.9 17.4 13.7 14.0 $ 82.1 $ 84.3 $ 77.5 $ 76.2 $ 79.3 $ 81.0 $ 22.7 $ 24.5 $ 24.5 $ 26.5 $ 28.5 $ 30.0 7.0 5.8 5.5 3.6 1.8 1.2 �.. $ 29.7 $ 3 0.3 $ 30.0 $ 30.1 $ 30.3 $ 31.2 �... $ 85.1 $ 86.1 $ 85.1 $ 81.8 $ 84.7 $ 87.6 - - - 3.5 9.4 9.4 26.7 28.5 22.4 21.0 15.5 15.2 $ 111.8 $ 114.6 $ 107.5 $ 106.3 $ 109.6 $ 112.2 - 103 - 7 VILLAGE OF OAK BROOK,ILLINOIS CHANGE IN NET POSITION Last Ten Fiscal Years Oft Fiscal Year 2003 2004 2005 2006 .. EXPENSES Governmental activities General government $ 4.2 $ 4.5 $ 4.3 $ 4.7 Public safety 10.2 10.1 11.3 12.0 0► Public works 3.0 3.7 4.6 4.1 Culture and recreation 1.6 1.7 1.7 1.9 Interest on long-term debt 0.2 0.2 0.1 0.1 Total governemntal activities expenses 19.2 20.2 22.0 22.8 Business-type activities nn Water 5.4 4.3 4.5 3.9 Sports Core 3.7 3.4 3.4 3.7 Total business-type activities expenses 9.1 7.7 7.9 7.6 TOTAL PRIMARY GOVERNMENT EXPENSES $ 28.3 $ 27.9 $ 29.9 $ 30.4 PROGRAM REVENUES Governmental activities Charges for services General government $ 0.9 $ 1.2 $ 1.1 $ 1.2 Public safety 0.8 0.8 0.8 0.8 Other activities 0.0 0.0 0.0 0.0 Operating grants and contributions 0.2 0.4 2.8 0.3 Capital grants - - - - Total governmental activities program revenues 19 2.4 4.7 2.3 Business-type activities Charges for services i Water 3.8 4.0 4.5 4.4 Sports Core 3.6 3.3 3.4 3.6 Total business-type activities program revenues 7.4 7.3 7.9 8.0 TOTAL PRIMARY GOVERNMENT PROGRAMS REVENUES $ 9.3 $ 9.7 $ 12.6 $ 10.3 NET REVENUE(EXPENSE) Governmental activities $ (17.3) $ (17.8) $ (17.3) $ (20.5) Business-type activities (1.8) (0.4) - 0.4 .. TOTAL PRIMARY GOVERNMENT NET REVENUE(EXPENSE) $ (19.1) $ (18.2) $ (17.3) $ (20.1) i - 104 - i.. 2007 2008 2009 2010 2011 2012 w $ 5.3 $ 6.2 $ 5.3 $ 3.9 $ 4.2 $ 3.7 12.3 12.6 11.9 13.2 12.3 13.4 4.3 3.2 11.9 4.4 4.9 6.1 1.8 2.0 1.7 1.7 1.7 1.8 0.1 0.1 0.1 0.4 0.4 0.4 23.8 24.1 30.9 23.6 23.5 25.4 4.4 3.9 4.0 4.5 4.9 5.6 �.. 3.7 3.8 3.5 3.1 3.1 3.3 8.1 7.7 7.5 7.6 8.0 8.9 $ 319 $ 31.8 $ 38.4 $ 31.2 $ 31.5 $ 34.3 f~ $ 1.7 $ 1.3 $ 1.1 $ 1.4 $ 1.1 $ 1.6 0.9 0.8 0.8 1.1 1.5 1.1 1 0.0 0.0 0.1 0.5 0.4 0.3 0.3 0.3 0.3 - - - 0.7 0.7 - 3.1 2.5 2.3 3.5 3.6 3.0 4.6 4.0 4.0 5.1 5.3 6.7 3.8 3.6 3.3 2.5 2.9 3.2 8.4 7.6 7.3 7.6 8.2 9.9 ++ $ 11.5 $ 10.1 $ 9.6 $ 11.1 $ 11.8 $ 12.9 $ (20.7) $ (21.6) $ (28.6) $ (20.1) $ (19.9) $ (22.4) 0.3 (0.1) (0.2) - 0.2 1.0 (20.4) $ (21.7) $ (28.8) $ (20.1) $ (19.7) $ (21.4) ` - 105 - VILLAGE OF OAK BROOK,ILLINOIS CHANGE IN NET POSITION(Continued) Last Ten Fiscal Years Fiscal Year 2003 2004 2005 2006 GENERAL REVENUES AND OTHER CHANGES IN NET POSITION Governmental activities Taxes Sales and local use taxes $ $ - $ 13.0 $ 14.2 .r Utility - 4.3 3.8 Other - 1.6 1.5 Investment earnings - 0.7 Miscellaneous - - 0.2 Total governmental activities - 18.9 20.4 Business-type activities Investment earnings - 0.1 0.2 Miscellaneous - - 1.1 - Total business-type activities - - 1.2 0.2 TOTAL PRIMARY GOVERNMENT $ - $ - $ 20.1 $ 20.6 CHANGE IN NET POSITION Governmental activities $ $ $ 1.6 $ (0.1) Business-type activities (1.8) (0.4) 1.2 0.6 TOTAL PRIMARY GOVERNMENT CHANGE IN NET POSITION $ (1.8) $ (0.4) $ 2.8 $ 0.5 Data Source Audited Financial Statements Data in millions - 106 - LOI - i L'Z $ 0'£ $ 0'£ $ I'L) $ 9'Z $ 87 O'I - I'0 Z'0 £'0 b'1 L'I $ 0'£ $ I'£ $ (6'9) $ £'Z $ b'I $ -� Ftlz $ 6'ZZ $ I CZ $ L'IZ $ £'bZ $ Z'£Z $ I'0 - b'0 i'I ['0 Z'0 8'0 Z'0 £'0 ['bZ 67Z Z'£Z C'[Z 6'£Z I'ZZ £'0 Z'0 1'0 F0 9'0 8'0 S'Z Z'Z £'Z S'Z S'Z 97 ..� 617 L'b L'b 617 S'b Z'b L"9I $ 0,91 $ I'91 $ Z'bi $ ['9[ $ b'bi $ ZIOZ IIOZ OIOZ 60OZ 8002 LOOZ 1 VILLAGE OF OAK BROOK, ILLINOIS FUND BALANCES OF GOVERNMENTAL FUNDS Last Ten Fiscal Years Fiscal Year 2003 2004 2005 2006 GENERAL FUND Reserved $ 1,290,284 $ 1,292,859 $ 1,291,561 $ 1,292,073 Unreserved 9,802,818 9,949,121 11,651,504 11,731,876 Nonspendable - - - - Restricted - - - - Unrestricted Committed - - - - _ Unassigned - - - - TOTAL GENERAL FUND $ 11,093,102 $ 11,241,980 $ 12,943,065 $ 13,023,949 INFRASTRUCTURE FUND Unreserved $ 2,316,583 $ 2,996,267 $ 1,696,960 $ 1,919,422 _ Nonspendable - - - - Restricted - - - - TOTAL INFRASTRUCTURE FUND $ 2,316,583 $ 2,996,267 $ 1,696,960 $ 1,919,422 ALL OTHER GOVERNMENTAL FUNDS Restricted $ - $ - $ - $ - Unreserved,reported in Special Revenue Funds 1,065,232 850,871 609,248 780,902 Capital Project Fund - - - 15,156 TOTAL ALL OTHER GOVERNMENTAL FUNDS $ 1,065,232 $ 850,871 $ 609,248 $ 796,058 Data Source Audited Financial Statements Note GASB Statement No. 54 was implemented in 2010 and applied prospectively on this schedule. - 108 - k L L L 2007 2008 2009 2010 2011 2012 f $ 1,291,112 $ 1,291,975 $ 1,495,000 $ - $ - $ - L 12,152,083 11,493,855 10,787,853 - - - - - - 1,917,000 2,087,000 2,545,898 - - - - 364,483 224,878 - - - 11,708,050 13,532,992 14,772,181 $ 13,443,195 $ 12,785,830 $ 12,282,853 $ 13,625,050 $ 15,984,475 $ 17,542,957 $ 2,110,918 $ 4,792,595 $ 4,682,620 $ - $ - $ - - - - 337,699 - - - - - 5,004,945 5,864,870 5,398,644 $ 2,110,918 $ 4,792,595 $ 4,682,620 $ 5,342,644 $ 5,864,870 $ 5,398,644 $ - $ - $ - $ 3,672,971 $ 3,451,553 $ 3,924,483 1,365,470 2,225,973 2,986,576 - - - 17,407 136,330 225,075 - - - $ 1,382,877 $ 2,362,303 $ 3,211,651 $ 3,672,971 $ 3,451,553 $ 3,924,483 - 109 - VILLAGE OF OAK BROOK,ILLINOIS CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS Last Ten Fiscal Years Fiscal Year 2003 2004 2005 2006 .. REVENUES Sales tax revenue $ 9,749,858 $ 10,529,690 $ 10,497,102 $ 11,461,184 Non-home rule sales tax - 1,304,467 2,422,549 2,641,030 Other intergovernmental 1,193,908 1,321,112 1,513,492 1,535,507 Utility taxes 4,500,108 4,298,744 4,268,283 3,822,020 Hotel/motel taxes 306,365 323,325 349,615 416,507 Licenses and permits 570,261 741,528 669,726 858,401 Charges for services 703,634 745,027 791,638 835,390 Fines and penalties 353,513 401,616 334,869 292,331 Investment income 158,482 104,869 286,859 562,590 Donations 410,000 - 15,000 25,311 Miscellaneous 228,477 176,630 166,340 190,225 Total revenues 18,174,606 19,947,008 21,315,473 22,640,496 EXPENDITURES General government 4,811,984 4,769,485 4,070,435 5,052,804 Public safety 9,537,454 9,590,916 11,158,837 12,047,821 Public works 1,906,948 2,023,984 2,954,815 2,338,619 Culture and recreation 1,554,606 1,563,457 1,594,661 1,855,514 .. Capital outlay 1,139,208 1,009,984 1,001,532 855,582 Debt service Principal - - - - Interest and issuance costs - - - - Total expenditures 18,950,200 18,957,826 20,780,280 22,150,340 EXCESS(DEFICIENCY)OF REVENUES OVER EXPENDIUTRES (775,594) 989,182 535,193 490,156 OTHER FINANCING SOURCES(USES) Transfers in 200,000 - - - Transfers(out) - - - - Debt issuance - - - - Debt issuance premium - - - - Payment to refund bond escrow agent - - - - Sale of capital assets - - - - .� Total other financing sources(uses) 200,000 - - - NET CHANGE IN FUND BALANCES $ (575,594) $ 989,182 $ 535,193 $ 490,156 DEBT SERVICES AS A PERCENTAGE OF NONCAPITAL EXPENDITURES 0.00% 0.00% 0.00% 0.00% ..� Data Source Audited Financial Statements .. 2007 2008 2009 2010 2011 2012 $ 11,396,397 $ 10,873,975 $ 9,748,649 $ 11,121,649 $ 11,070,404 $ 11,326,929 L 2,618,565 4,874,978 4,410,438 4,833,425 4,833,972 5,230,137 1,711,638 1,893,862 1,771,733 2,545,066 2,411,395 1,841,378 4,247,675 4,520,563 4,922,115 4,669,414 4,657,683 4,900,869 L 1,262,808 1,137,614 882,649 881,887 853,638 940,008 850,965 720,847 741,380 843,139 948,872 1,201,998 832,008 839,504 695,630 943,638 1,089,783 970,778 375,717 345,937 313,395 229,246 248,120 231,865 682,728 431,753 80,345 110,837 31,018 47,363 45,150 281,864 391,106 403,580 532,891 323,742 355,548 L24,305,515 26,030,139 23,969,914 26,711,192 26,468,627 27,046,873 5,529,429 5,846,600 4,932,449 3,522,790 3,319,839 3,600,061 12,156,303 12,280,965 11,496,681 12,536,938 11,755,031 12,986,730 2,460,937 2,394,176 10,458,211 4,036,771 4,698,190 4,706,731 1,746,352 2,011,660 1,596,440 1,536,853 1,569,377 1,638,863 1,214,933 493,000 994,776 382,039 281,457 607,097 - - 1,706,163 1,769,263 1,827,087 1,842,163 95,415 462,997 386,259 375,042 23,107,954 23,026,401 31,280,135 24,247,651 23,837,240 25,756,687 �.. 1,197,561 3,003,738 (7,310,221) 2,463,541 2,631,387 1,290,186 L. - - - - - 275,000 9,788,606 - - - 8,861 - - - (2,250,850) - - - - - 28,846 - - - 7,546,617 - 28,846 275,000 $ 1,197,561 $ 3,003,738 $ 236,396 $ 2,463,541 $ 2,660,233 $ 1,565,186 0.00% 0.00% 5.81% 9.42% 9.55% 8.75% VILLAGE OF OAK BROOK,ILLINOIS ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY .. Last Ten Levy Years (data in thousands) Total Estimated Estimated ... Less: Total Taxable Direct Actual Actual Levy Residential Commercial Industrial Tax-Exempt Assessed Tax Taxable Taxable Year Property Property Property Property Value Rate Value Value 2002 $ 752,206 $ 541,598 $ - $ - $ 1,293,804 $ - $ 3,881,412 33.333% 2003 793,873 533,227 - - 1,327,100 - 3,981,300 33.333% 2004 869,932 555,935 - - 1,425,867 - 4,277,601 33.333% "1 2005 934,030 547,901 - - 1,481,931 - 4,445,793 33.333% , 2006 1,011,883 566,390 - - 1,578,273 - 4,734,819 33.333% i 2007 1,089,808 598,096 - - 1,687,904 - 5,063,712 33.333% 2008 1,179,126 607,923 - - 1,787,049 - 5,361,147 33.333% 2009 1,176,749 562,531 - - 1,739,280 - 5,217,840 33.333% 2010 1,088,414 511,191 - - 1,599,605 - 4,798,815 33.333% 2011 1,003,641 490,189 - - 1,493,830 - 4,481,490 33.333% Data Source ^ Office of the County Clerk Note:Property in the Village is reassessed each year. Property is assessed at 33%of actual value. 1 j •� I! 4 i r r r r r r r r r r r r r- r r r- r U r VILLAGE OF OAK BROOK, ILLINOIS PROPERTY TAX RATES - DIRECT AND OVERLAPPING GOVERNMENTS Last Ten Levy Years Tax Levy Year 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Tax Rates Village of Oak Brook $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Basic Town 0.4685 0.4375 0.4120 0.3961 0.3878 0.3662 0.3567 0.3579 0.3956 0.4166 Junior College#502 0.2179 0.2097 0.1972 0.1874 0.1929 0.1888 0.1858 0.2127 0.2349 0.2495 Grade School#53 0.8877 0.8984 0.8527 0.8530 0.8319 0.8060 0.7936 0.8159 0.9164 1.0099 High School#86 1.3858 1.3094 1.2310 1.1910 1.1418 1.0943 1.0804 1.0948 1.2011 1.3362 Oak Brook Park District 0.1667 0.1666 0.1589 0.1621 0.1583 0.1530 0.1504 0.1555 0.1659 0.1904 TOTAL TAX RATES $ 3.1266 $ 3.0216 $ 2.8518 $ 2.7896 $ 2.7127 $ 2.6083 $ 2.5669 $ 2.6368 $ 2.9139 $ 3.2026 Note: Basic Town includes all county,forest preserve and township rates. Property tax rates are per$100 of assessed valuation. Data Source Office of the County Clerk - 113 - VILLAGE OF OAK BROOK,ILLINOIS PRINCIPAL REVENUE TAXPAYERS Current Year and Nine Years Ago i 2012 2003 Sales Sales _ Taxes Taxes Taxpayer Revenue Taxpayer Revenue Apple Computer Costco Wholesale .� Costco Wholesale Crate&Barrel Lord&Taylor LLC Lord&Taylor Macy's Maggiano's Little Italy Neiman Marcus Neiman Marcus Nordstrom,Inc. Nordstrom,Inc. Nordstrom Rack Nordstrom Rack Pharmerica Drug Systems Sears Roebuck&Co. Sears Roebuck&Co. Targe Corporation Tiffany&Co. Tiffany&Co. TOP TEN TOTAL $ 5,400,618 TOP TEN TOTAL $ 5,001,878 TOTAL SALES TAX REVENUE $ 11,147,846 TOTAL SALES TAX REVENUE $ 10,017,499 TOP TEN AS A PERCENT OF TOP TEN AS A PERCENT OF .� SALES TAX REVENUE 48.45% SALES TAX REVENUE 49.93% Data Source Illinois Department of Revenue Note: Confidentiality rules of the Illinois Department of Revenue prohibit disclosure of individual _ taxpayer payment information. The data presented above is organized alphabetically with revenue for the top ten taxpayers reported in aggregate for the years presented. I i LVILLAGE OF OAK BROOK,ILLINOIS LDIRECT AND OVERLAPPING SALES TAX RATES Last Ten Fiscal Years w L Village DuPage County Regional Village L Fiscal Direct State DuPage County Water Transportation Non-Home Rule Total Year Rate Rate Rate Commission Authority Rate Rate 2003 1.00% 5.00% 0.25% 0.25% 0.25% 0.00% 6.75% 2004 1.00% 5.00% 0.25% 0.25% 0.25% 0.25% 7.00% 2005 1.00% 5.00% 0.25% 0.25% 0.25% 0.25% 7.00% L„ 2006 1.00% 5.00% 0.25% 0.25% 0.25% 0.25% 7.00% 2007 1.00% 5.00% 0.25% 0.25% 0.25% 0.25% 7.00% 2008 1.00% 5.00% 0.25% 0.25% 0.75% 0.50% 7.75% 2009 1.00% 5.00% 0.25% 0.25% 0.75% 0.50% 7.75% L 2010 1.00% 5.00% 0.25% 0.25% 0.75% 0.50% 7.75% I 2011 1.00% 5.00% 0.25% 0.25% 0.75% 0.50% 7.75% 2012 1.00% 5.00% 0.25% 0.25% 0.75% 0.50% 7.75% Data Source Village and County Records - 115 - VILLAGE OF OAK BROOK,ILLINOIS RATIOS OF OUTSTANDING DEBT BY TYPE Last Ten Fiscal Years Govermental Business-Type Activities Activities Ratio of Total Total Total Fiscal Installment Installment Total Outstanding Debt Outstanding Outstanding Year Notes Notes Capital Primary To Equalized Debt Per Debt Per Ended Payable Payable Leases Government Assessed Valuation* Personal Income Capita* 2003 $ 3,410,000 $ 1,360,000 $ - $ 4,770,000 0.37% 0.32% $ 548.15 ars 2004 3,195,000 1,205,000 - 4,400,000 0.33% 0.30% 505.63 2005 2,970,000 1,045,000 120,643 4,135,643 0.29% 0.28% 475.25 2006 2,735,000 885,000 82,378 3,702,378 0.25% 0.25% 425.46 2007 2,485,000 720,000 42,195 3,247,195 0.21% 0.22% 373.16 2008 2,225,000 525,000 - 2,750,000 0.16% 0.19% 316.02 2009 12,332,443 325,000 - 12,657,443 0.71% 0.86% 1,454.54 2010 10,563,180 731,511 - 11,294,691 0.65% 0.76% 1,297.94 2011 8,736,093 462,674 - 9,198,767 0.58% 0.89% 1,166.91 2012 6,984,930 168,837 - 7,153,767 0.48% 0.69% 907.49 Note:Details of the Village's outstanding debt can be found in the notes to financial statements. * See the schedule of Demographic and Economic Information on page 119 for personal income and population data. ,^ got ` VILLAGE OF OAK BROOK, ILLINOIS SCHEDULE OF DIRECT AND OVERLAPPING BONDED DEBT December 31, 2012 (2) *Percentage (1) of Debt (3) Gross Applicable to **Government's Governmental Unit Debt Government Share of Debt Village of Oak Brook $ 6,984,930 100.00% $ 6,984,930 DuPage County 297,075,000 25.59% 76,018,125 DuPage Forest Preserve 241,846,105 20.83% 50,380,577 DuPage Water Commission - 0.00% - Park Districts 2,809,733 0.24% 6,800 Elementary School Districts 87,584,421 7.54% 6,607,523 High School Districts 192,890,000 16.61% 32,048,254 Junior College 502 260,980,000 22.48% 58,667,745 '- Unit District 205 70,783,936 6.10% 4,315,731 TOTAL $ 1,160,954,125 $ 235,029,685 * Determined by ratio of assessed value of property subject to taxation in overlapping unit to value of property subject to taxation in the Village. ** Amount in column (2)multiplied by amount in column(1). Totals may not be exact due to rounding. Data Source Office of the County Clerk - 117 - VILLAGE OF OAK BROOK,ILLINOIS LEGAL DEBT MARGIN INFORMATION Last Ten Fiscal Years Fiscal Year 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Legal debt limit $ 111,590,582 $ 114,462,334 $ 122,938,821 $ 127,816,578 $ 136,066,752 $ 145,581,763 $ 154,132,970 $ 150,013,021 $ 137,966,087 $ 128,842,981 Total net debt applicable to limit 4,770,000 4,400,000 4,015,000 3,620,000 3,205,000 2,750,000 2,400,000 2,055,000 1,710,000 1,335,000 Legal debt margin 106,820,582 110,062,334 118,923,821 124,196,578 132,921,063 142,831,763 151,732,970 147,958,021 136,256,087 127,507,981 Total net debt applicable to the limit as a percentage of debt limit 4.27% 3.84% 3.27% 2.83% 2.35% 1.89% 1.56% 1.37% 1.24% 1.04% Legal Debt Margin Calculation for Fiscal 2012 Assessed Value $ 1,493,831,669 Legal debt margin 8.625% Debt limit 128,842,981 Debt applicable to limit General obligation bonds 1,335,000 Legal debt margin $ 127,507,981 - 1 1 VILLAGE OF OAK BROOK,ILLINOIS DEMOGRAPHIC AND ECONOMIC INFORMATION 1_ Last Ten Fiscal Years L Per Capita Total DuPage County Fiscal Personal Personal Unemployment Year Population Income Income Rate I L 2003 8,702 (E) $ 169,718 $ 1,476,886,036 5.8% 2004 8,702 (E) 169,718 1,476,886,036 4.7% 2005 8,702 (E) 169,718 1,476,886,036 4.7% L 2006 8,702 (E) 169,718 1,476,886,036 3.6% 2007 8,702 (E) 169,718 1,476,886,036 3.8% 2008 8,702 (E) 169,718 1,476,886,036 8.6% .s 2009 8,702 (E) 169,718 1,476,886,036 8.4% 2010 8,702 (E) 169,718 1,476,886,036 8.3% 2011 7,883 (A) 131,719 1,038,340,877 7.3% L 2012 7,883 (E) 131,719 1,038,340,877 N/A (A)Actual (E)Estimate N/A-Not available Note: Latest information available Data Source U.S.Bureau of Labor Statistics VILLAGE OF OAK BROOK, ILLINOIS PRINCIPAL EMPLOYERS Current Year and Six Years Ago 2012 2006 Percentage of Total Percentage of Employer Rank Employees Village Population Rank Employees Village Population McDonald's Corporation 1 3,200 40.6% 2 2,800 32.2% Oak Brook Center Mall 2 3,150 40.0% 1 3,500 40.2% Inland Real Estate Group of Companies 3 1,471 18.7% Ace Hardware Corporation 4 1,074 13.6% 3 1,000 11.5% Advocate Healthcare 5 1,035 13.1% 4 580 6.7% Follet Higher Education Group 6 410 5.2% ADT Security Services, Inc. 7 350 4.4% Newell Rubbermaid 8 331 4.2% Lions Club International 9 274 3.5% 8 300 3.4% Blistex, Inc. 10 210 2.7% 10 175 2.0% Safeway, Inc. 5 400 4.6% Elkay Manufacturing 7 325 3.7% Federal Signal Corporation 9 200 2.3% Data Source A-Z Database; Selective Telephone Survey Information prior to 2006 was unavailable. - 120 - VILLAGE OF OAK BROOK, ILLINOIS F RETAIL SALES VOLUME - TOP 25 ILLINOIS COMMUNITIES State Collection Period January 1, 2012 Through December 31, 2012 4 Estimated Sales 2011 Municipality Rank Sales Per Capita Population Chicago 1 $ 24,307,800,500 $ 9,018 2,695,598 Schaumburg 2 3,011,931,300 40,577 74,227 Naperville 3 2,942,972,400 20,747 141,853 Springfield 4 2,660,127,700 22,883 116,250 Peoria 5 2,267,216,900 19,714 115,007 Rockford 6 2,231,637,600 14,598 152,871 Aurora 7 2,044,134,600 10,329 197,899 `- Joliet 8 1,893,817,600 12,845 147,433 Orland Park 9 1,828,474,600 32,210 56,767 Kankakee 10 1,791,460,500 65,056 27,537 Champaign 11 1,547,443,100 19,091 81,055 Niles 12 1,442,469,100 48,400 29,803 Bloomington 13 1,442,368,400 18,827 76,610 Skokie 14 1,436,776,500 22,178 64,784 Glenview 15 1,308,694,700 29,283 44,692 Vernon Hills 16 1,253,538,400 49,916 25,113 Gurnee 17 1,186,858,200 37,925 31,295 Tinley Park 18 1,177,118,400 20,759 56,703 Downers Grove 19 1,161,535,000 24,283 47,833 Decatur 20 1,151,975,900 15,133 76,122 Sycamore 21 1,148,479,600 65,556 17,519 Oak Brook 22 1,118,547,800 141,894 7,883 Lombard 23 1,084,215,500 25,118 43,165 Arlington Heights 24 1,042,706,200 13,884 75,101 Crystal Lake 25 996,030,600 24,447 40,743 Data Source Illinois Department of Revenue -Local Tax Allocation Division and the U.S. Census Bureau. (1) Distributions to municipalities of the 1% municipal tax were used to calculate the estimated retail sales. Actual sales tax amounts were received by the municipalities February 1, 2012 through January 31, 2013. - 121 - VILLAGE OF OAK BROOK,ILLINOIS SALES TAX RECEIPTS-CASH BASIS Last Ten Fiscal Years .r Fiscal Year Village Share/ %Change from Non-Home Rule %Change from Total %Change from Ended State Sales Preceding Sales Tax Preceding Sales Tax Preceding .� December 31, Tax Receipts Year Receipts Year Receipts Year 2003 $ 10,017,499 4.7% $ - - $ 10,017,499 4.7% ..� 2004 10,368,148 3.5% 568,008 N/A 10,936,156 9.2% 2005 10,572,493 2.0% 2,422,386 326.5% 12,994,879 18.8% 2006 11,138,321 5.4% 2,559,593 5.7% 13,697,914 5.4% 2007 11,340,036 1.8% 2,608,471 1.9% 13,948,507 1.8% "1 2008 11,066,103 -2.4% 4,272,671 63.8% 15,338,774 10.0% 2009 10,024,077 -9.4% 4,447,786 4.1% 14,471,863 -5.7% 2010 10,457,375 4.3% 4,703,153 5.7% 15,160,528 4.8% 2011 11,048,561 5.7% 4,939,565 5.0% 15,988,126 5.5% 2012 11,147,846 0.9% 5,132,229 3.9% 16,280,075 1.8% Data Source Village Records Note: The Village's non-home rule sales tax was effective beginning July 1,2004. 1 I '1 { '1 - 122 - VILLAGE OF OAK BROOK,ILLINOIS STATE SALES TAX RECEIPTS BY MONTH-CASH BASIS L Last Three Fiscal Years Percentage Change Fiscal Year Fiscal Year Fiscal Year From Preceding Year ~ Month Ended 12/31/10 Ended 12/31/11 Ended 12/31/12 FY 2010 FY 2011 FY 2012 January $ 819,895 $ 895,308 $ 861,209 6.7% 9.2% -3.8% L" February 876,670 956,493 940,756 -18.4% 9.1% -1.6% March 1,371,070 1,477,682 1,537,599 3.8% 7.8% 4.1% April 645,058 666,930 723,341 -11.6% 3.4% 8.5% May 640,940 695,977 754,571 2.4% 8.6% 8.4% June 838,005 871,520 914,767 10.9% 4.0% 5.0% July 799,994 877,924 835,975 13.0% 9.7% -4.8% August 858,726 933,061 905,677 11.3% 8.7% -2.9% September 841,099 926,998 820,913 3.8% 10.2% -11.4% October 930,821 900,670 859,114 13.7% -3.2% -4.6% November 951,035 938,459 1,020,879 12.9% -1.3% 8.8% December 884,062 907,539 973,045 10.8% 2.7% 7.2% TOTAL $ 10,457,375 $ 11,048,561 $ 11,147,846 4.3% 5.7% 0.9% Data Source Village Records .r - 123 - VILLAGE OF OAK BROOK,ILLINOIS NON-HOME RULE SALES TAX RECEIPTS BY MONTH -CASH BASIS Last Three Fiscal Years Percentage Change Fiscal Year Fiscal Year Fiscal Year From Preceding Year Month Ended 12/31/10 Ended 12/31/11 Ended 12/31/12 FY 2010 FY 2011 FY 2012 January $ 374,350 $ 400,224 $ 379,832 6.0% 6.9% -5.1% February 400,954 445,276 424,255 0.4% 11.1% -4.7% March 639,925 672,765 715,934 3.5% 5.1% 6.4% ^ April 284,621 286,122 314,634 -12.4% 0.5% 10.0% May 284,830 305,329 346,379 1.7% 7.2% 13.4% June 382,620 390,791 422,481 12.0% 2.1% 8.1% .. July 363,571 396,236 385,728 14.3% 9.0% -2.7% August 380,669 418,978 419,118 8.8% 10.1% 0.0% September 391,573 417,209 443,846 7.0% 6.5% 6.4% October 402,645 409,666 395,512 6.7% 1.7% -3.5% November 402,127 389,815 435,755 12.8% -3.1% 11.8% December 395,268 407,154 448,755 9.2% 3.0% 10.2% TOTAL $ 4,703,153 $ 4,939,565 $ 5,132,229 5.7% 5.0% 3.9% Data Source Village Records Note: The Village's non-home rule sales tax was effective July 1,2004 with collections beginning in October 2004. - 124 - VILLAGE OF OAK BROOK,ILLINOIS SALES TAX BY CATEGORY Last Ten Fiscal Years Fiscal Years 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 General merchandise $ 2,752,128 $ 2,979,121 $ 2,243,966 $ 3,031,452 $ 2,384,953 $ 2,064,241 $ 1,864,664 $ 1,988,286 $ 2,025,257 $ 2,087,873 Food 51,362 40,239 41,125 46,714 56,332 54,585 68,576 49,666 45,910 49,616 Drinking and eating places 968,701 1,075,685 1,105,997 1,181,813 1,266,893 1,248,272 1,270,903 1,388,881 1,428,598 1,506,289 Apparel 2,619,437 2,683,775 2,813,176 3,051,925 3,075,294 2,876,511 2,711,321 2,987,468 3,034,654 3,110,107 Furniture,H.H.and radio 824,925 917,782 945,017 961,241 1,080,877 1,076,836 840,999 957,980 975,472 1,090,244 Lumber,building and hardware 120,341 113,660 105,873 104,720 85,382 39,312 32,472 17,588 12,853 24,600 Automotive and filling stations 1,013,497 1,211,391 1,333,253 1,465,864 1,544,153 1,708,234 1,568,808 1,623,980 1,509,528 1,619,343 Drugs and other retail 1,107,775 1,156,873 1,179,604 1,285,354 1,240,805 1,141,709 1,046,055 1,265,890 1,472,117 1,124,986 Agriculture and all others 300,850 304,287 397,129 451,957 491,738 507,663 414,462 354,622 422,368 418,871 Manufacturers 50,297 75,179 77,311 68,531 72,399 72,003 100,642 83,952 126,281 174,572 TOTAL $ 9,809,312 $ 10,557,992 $ 10,242,451 $ 11,649,570 $ 11,298,826 $ 10,789,366 $ 9,918,902 $ 10,718,314 $ 11,053,038 $ 11,206,501 Village direct sales tax rate 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% Data Source Illinois Department of Revenue-Local Tax Allocation Division Note: Gross receipts include both Cook and DuPage County 1%municipal sales tax. Amounts reflect sales tax collected by the Village between April 1 and March 31 as reported by the State. - 125 - VILLAGE OF OAK BROOK,ILLINOIS NON-HOME RULE SALES TAX BY CATEGORY Last Ten Fiscal Years Fiscal Years 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 General merchandise $ - $ 382,923 $ 556,016 $ 743,530 $ 590,403 $ 1,024,873 $ 926,187 $ 973,309 $ 1,006,608 $ 1,028,630 Food - 2,007 4,444 5,150 8,577 19,275 20,652 19,332 20,436 22,769 Drinking and eating places - 142,641 275,357 294,331 315,085 615,357 632,360 692,224 710,688 749,294 Apparel - 373,434 702,672 762,294 768,375 1,433,462 1,353,324 1,492,720 1,516,414 1,554,292 Furniture,H.H.and radio - 126,581 231,825 240,036 269,738 534,252 419,064 478,065 486,841 544,734 Lumber,building and hardware - 14,797 26,448 26,171 21,290 19,735 16,233 8,807 6,427 12,299 Automotive and filling stations - 96,769 183,613 204,893 207,328 410,617 419,622 438,722 413,502 444,986 Drugs and other retail - 147,168 260,634 278,768 275,639 501,254 455,080 496,243 522,092 574,857 Agriculture and all others - 36,238 83,805 108,407 108,766 224,370 191,955 160,284 190,247 186,919 Manufacturers - 10,196 19,327 17,079 18,064 35,964 50,271 41,947 63,114 75,056 TOTAL $ $ 1,332,753 $ 2,344,141 $ 2,680,659 $ 2,583,267 $ 4,819,159 $ 4,484,747 $ 4,801,654 $ 4,936,369 $ 5,193,836 Village non-home rule sales tax rate - 0.25% 0.25% 0.25% 0.25% 0.50% 0.50% 0.50% 0.50% 0.50% Data Source Illinois Department of Revenue-Local Tax Allocation Division Note: Gross receipts include both Cook and DuPage County 1%municipal sales tax. Amounts reflect sales tax collected between April 1 and March 31 as reported by the State. The Village's non-home rule sales tax was effective July 1,2004. The Village's non-home rule sales tax increased from.25%to.50%effective January 1,2008. - 126 - (This page is intentionally left blank.) r VILLAGE OF OAK BROOK,ILLINOIS BUDGETED FULL-TIME EQUIVALENT EMPLOYEES Last Ten Fiscal Years Function/Program 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 GENERAL GOVERNMENT Board of Trustees 0.50 0.50 0.50 1.00 1.00 0.50 0.50 0.50 0.75 0.50 Village Clerk 2.50 2.50 2.75 2.75 3.25 3.25 3.25 1.50 1.75 1.95 Legal 1.00 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.35 General Management 3.25 3.50 3.50 3.25 3.25 2.50 2.50 2.25 3.00 2.55 Human Resources 1.00 1.00 1.00 1.00 1.00 1.00 1.50 1.75 1.50 1.75 Risk Management 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.40 General Services 1.25 1.25 1.25 1.25 1.25 1.25 1.25 2.00 1.75 1.35 Business Licenses - - - 0.25 0.25 0.00 0.00 0.00 0.00 0.00 Purchasing 1.50 1.50 1.50 1.50 1.50 1.50 0.00 0.50 0.50 0.85 Information Services 3.50 3.50 3.50 3.50 3.50 3.50 3.00 2.25 2.00 2.60 FINANCIAL SERVICES Financial Services Management 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Accounting and Reporting 4.50 4.50 4.50 4.50 4.50 4.50 5.00 3.00 2.75 2.75 PUBLIC WORKS Buildings and Grounds 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 Garage Operations 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 Water Operations 7.00 7.00 7.50 7.50 7.50 7.50 7.50 6.50 6.00 6.00 Public Works Management 3.00 3.00 3.00 3.00 3.00 3.00 3.00 2.50 2.50 2.00 Streets-General Salaries 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 ENGINERRING AND CAPITAL PROJECTS Engineering 4.00 4.00 4.00 4.00 4.00 4.00 4.00 3.50 3.25 3.50 LIBRARY Library General Operations 7.00 7.00 7.00 7.00 7.00 7.00 7.00 4.00 4.50 5.25 Technical Services 2.50 2.50 2.50 2.50 2.50 2.50 2.50 3.00 2.75 2.75 Reference and User Services 2.50 2.50 2.50 2.50 2.50 2.50 2.50 1.75 2.25 2.50 Youth Services 2.75 2.75 2.75 2.75 2.75 2.75 2.75 1.50 2.00 1.50 POLICE Police Services Management 4.00 4.00 3.00 3.00 3.00 3.00 3.00 3.00 2.00 2.00 Police Field Services 33.00 35.00 37.00 35.00 35.00 36.25 35.25 31.50 31.50 32.20 Police General Support 2.00 2.00 2.00 2.50 3.00 3.50 3.50 3.00 3.00 3.00 Police Investigations 8.00 6.00 6.00 6.00 7.00 7.00 6.00 8.00 8.00 7.00 Village Communications Center 10.00 10.00 10.00 11.00 12.00 12.50 12.00 9.00 7.00 0.00 Police Records 3.00 3.00 3.00 3.00 3.00 3.00 3.00 2.50 2.50 6.55 Police Public Relations/Crime Prevention 2.00 2.00 1.00 2.00 0.00 0.00 0.00 0.00 0.00 0.00 Police Adjudication 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.50 0.00 - 127 - __J 127 -__J _._1 -A _J _J _J __ J _J _J _J r- r- r r-- r r r r r VILLAGE OF OAK BROOK,ILLINOIS BUDGETED FULL-TIME EQUIVALENT EMPLOYEES(Continued) Last Ten Fiscal Years Function/Program 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 FIRE*** Fire and EMS-General Salaries** 33.00 33.00 33.00 33.00 33.00 33.00 33.00 31.00 31.00 31.00 Rescue and Fire Service Management 3.00 3.00 3.00 3.00 3.00 3.00 2.50 1.50 1.50 1.50 Fire Prevention and Public Safety Education 2.00 2.00 2.00 2.00 2.00 2.00 0.00 0.00 0.00 0.00 SPORTS CORE Sports Core General Operations 3.25 3.25 2.75 2.75 2.75 2.75 2.25 1.75 1.50 0.75 Sports Core Food and Beverage Operations 2.00 2.00 1.50 2.00 2.50 2.50 2.75 0.00 0.50 0.50 Golf Club Food and Beverage Operations - - - - - - 0.25 0.50 0.50 0.50 Golf Club General Operations 3.25 3.25 3.25 3.25 3.25 3.25 3.25 2.75 2.25 2.00 Golf Course Maintenance 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 COMMUNITY DEVELOPMENT Community Development Management 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 Code Enforcement 3.00 3.00 3.00 3.00 4.00 4.00 3.50 3.50 3.50 4.25 TOTAL 176.75 176.25 176.00 177.50 180.00 180.75 174.25 152.25 150.25 146.80 *Summary represents full-time equivalent positions not including seasonal,temporary or situational employees. Regular part-time employee hours have been rounded to the nearest quarter full-time equivalent. **Six contract firefighter/paramedics are used to supplement the full-time complement of firefighter/paramedics. ***Part-time positions that are filled by off-duty full-time fire department personnel are not included. These positions include Fire Prevention Inspectors, Building Inspectors,Administrative Aide,EMS Director,Public Safety Information Coordinator and CPR Coordinator. Data Source Village Records - 128 - VILLAGE OF OAK BROOK,ILLINOIS OPERATING INDICATORS Last Ten Fiscal Years Function/Program 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 PUBLIC SAFETY Police Physical arrests 313 364 357 330 319 293 399 357 267 234 Parking violations 2,376 1,345 1,112 579 1,472 1,420 1,113 877 1,245 636 Traffic violations 5,235 4,649 4,180 3,984 4,240 3,371 3,464 5,370 3,374 3,137 Fire EMS incidents 1,049 1,016 1,059 1,138 1,093 1,037 1,069 1,188 1,037 912 Fire incidents 747 1,075 949 716 823 752 802 918 788 656 Communications Center Police calls dispatched 9,597 10,142 11,766 10,864 10,880 10,667 9,911 9,666 9,666 12,696 Fire/EMS calls dispatched 2,224 2,091 2,148 2,013 2,250 2,214 2,176 2,240 2,240 2,071 WATER New water meters installed 39 38 47 31 31 21 10 10 11 14 Water main breaks repaired 78 71 110 63 109 58 63 59 50 61 Water pumped(mil.gals.) 1,513 1,375 1,530 1,261 1,336 1,210 1,105 1,136 1,060 1,173 LIBRARY Total circulation 92,066 96,024 98,754 96,414 99,009 96,631 90,287 87,906 84,768 91,017 Avg.daily circulation 270.8 280.8 289.6 286.1 292.1 282.5 267.9 260.5 253.0 269.0 Total holdings 83,115 89,292 96,721 103,951 106,181 105,493 111,051 116,386 124,757 128,343 COMMUNITY DEVELOPMENT Building permits issues 757 891 903 947 856 742 606 696 705 770 Inspections n/a n/a 1,129 2,268 1,754 1,772 2,090 2,193 2,139 2,311 Estimated construction value $57,455,832 $78,447,306 $ 73,549,628 $ 76,294,249 $ 81,953,372 $ 46,663,489 $ 51,776,407 $ 51,559,533 $ 58,775,804 $ 76,987,646 SPORTS CORE B&T recreation membership 344 343 311 302 291 303 259 300 320 363 Social memberships 88 189 122 106 120 129 80 64 59 67 Total events 306 252 215 224 226 202 123 39 35 56 Golf memberships 267 263 260 262 235 226 219 207 182 154 Total golf rounds 45,637 44,422 44,005 42,324 43,561 40,336 39,686 37,750 35,196 38,637 Data Source Various village departments n/a-Information was unavailable for this given period. - 129 - r r__ r r-- r r r r VILLAGE OF OAK BROOK,ILLINOIS CAPITAL ASSETS STATISTICS Last Ten Fiscal Years Function/Program 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 PUBLIC SAFETY Police Stations 1 1 1 1 1 1 1 1 1 1 Area patrols 5 5 5 5 5 5 5 4 5 5 Patrol units 15 15 15 15 15 15 15 12 11 11 Fire Fire stations 2 2 2 2 2 2 2 2 2 2 Fire trucks 7 7 7 7 7 7 7 7 7 7 PUBLIC WORKS Arterial streets(miles) 8.5 8.5 8.5 8.5 8.5 8.5 8.5 8.5 8.5 8.5 Residential streets(miles) 48 48 49 49 49 49 49 49 49 49 Streetlights 565 565 565 565 565 565 565 565 565 565 Traffic intersections 11 11 11 11 11 11 11 11 11 11 WATER Water mains(miles) 115 115 115 115 115 105 105 105 105 105 Fire hydrants 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 Storage capacity(gallons) 8.0 mil. 8.0 mil. 8.0 mil. 8.0 mil. 8.0 mil. 8.0 mil. 8.0 mil. 8.0 mil. 8.0 mil. 8.0 mil. Data Source Various village departments - 130 -