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CAFR (Year Ended December 31, 2011) VF OA 0 _ � 1 0 J 0 I co C� wp- 4(6 COUN I *i VILLAGE OF OAK BROOK COMPREHENSIVE ANNUAL FINANCIAL REPORT T For the Year Ended December 31 , 2011 Via• l i L VILLAGE OF OAK BROOK, ILLINOIS 1 COMPREHENSIVE ANNUAL ti FINANCIAL REPORT For the Year Ended December 31, 2011 fl 1 A 4 Ir. Prepared by the Finance Department Sharon Dangles Finance Director VILLAGE OF OAK BROOK, ILLINOIS TABLE OF CONTENTS Page(s) INTRODUCTORY SECTION a Principal Officials .......... i OrganizationChart............................................................................................................ ii Certificate of Achievement for Excellence in Financial Reporting.................................................................................. iii Letter of Transmittal......................................................................................................... iv-ix FINANCIAL SECTION INDEPENDENT AUDITOR'S REPORT........................................................................ 1-2 GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS Management's Discussion and Analysis......................................................................MD&A 1-15 Basic Financial Statements i Government-Wide Financial Statements Statement of Net Assets...................................................................................... 3 a Statement of Activities....................................................................................... 4-5 Fund Financial Statements Governmental Funds BalanceSheet................................................................................................ 6 Reconciliation of Fund Balances of Governmental Funds to the Governmental Activities in the Statement of Net Assets............................ 7 Statement of Revenues, Expenditures and Changes in Fund Balances......... 8 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances to the Governmental Activities in the Statement of Activities...................................................... 9 VILLAGE OF OAK BROOK, ILLINOIS TABLE OF CONTENTS (Continued) — Page(s) FINANCIAL SECTION(Continued) _ GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS (Continued) Basic Financial Statements (Continued) Fund Financial Statements(Continued) Proprietary Funds Statement of Net Assets ................................................................................ 10 Statement of Revenues, Expenses and Changes in Net Assets..................... 11 Statement of Cash Flows............................................................................... 12-13 Fiduciary Funds Statement of Fiduciary Net Assets................................................................ 14 Statement of Changes in Fiduciary Net Assets ............................................. 15 Notes to Financial Statements................................................................................. 16-52 Required Supplementary Information Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - General Fund........................................................................ 53 — Notes to Required Supplementary Information....................................................... 54 Schedule of Funding Progress Illinois Municipal Retirement Fund ................................................................... 55 Sheriff s Law Enforcement Personnel................................................................ 56 PolicePension Fund........................................................................................... 57 Firefighters' Pension Fund................................................................................. 58 _ Other Postemployment Benefit Plan.................................................................. 59 Schedule of Employer Contributions Illinois Municipal Retirement Fund................................................................... 60 Sheriff s Law Enforcement Personnel................................................................ 61 PolicePension Fund........................................................................................... 62 Firefighters' Pension Fund................................................................................. 63 Other Postemployment Benefit Plan.................................................................. 64 VILLAGE OF OAK BROOK, ILLINOIS TABLE OF CONTENTS (Continued) Page(s) o,► FINANCIAL SECTION(Continued) COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES MAJOR GOVERNMENTAL FUNDS Schedule of Revenues -Budget and Actual - General Fund................................... 65 Schedule of Expenditures -Budget and Actual - General Fund.............................. 66-71 Schedule of Revenues, Expenditures and Changes in Fund Balance- Budget and Actual - Infrastructure Fund............................................................... 72-73 NONMAJOR GOVERNMENTAL FUNDS Combining Balance Sheet....................................................................................... 74 Combining Statement of Revenues, Expenditures and Changes in Fund Balances..................................................................................... 75 Schedule of Revenues, Expenditures and Changes in Fund Balance -Budget and Actual Hotel/Motel Tax Fund........................................................................................ 76 A. Motor Fuel Tax Fund.......................................................................................... 77 Foreign Fire Insurance Tax Fund........................................................................ 78 PromenadeTIF Fund.......................................................................................... 79 PROPRIETARY FUNDS MAJOR ENTERPRISE FUNDS Schedule of Revenues, Expenses and Changes in Net Assets - _ Budget and Actual - Waterworks System Fund................................................ 80 Schedule of Operating Expenses -Budget and Actual - Waterworks System Fund................................................................................. 81 ftw Schedule of Revenues, Expenses and Changes in Net Assets - Budget and Actual - Sports Core Fund............................................................. 82 Schedule of Operating Revenues -Budget and Actual - SportsCore Fund.............................................................................................. 83 Schedule of Operating Expenses -Budget and Actual - SportsCore Fund.............................................................................................. 84-86 VILLAGE OF OAK BROOK, ILLINOIS TABLE OF CONTENTS (Continued) Page(s) FINANCIAL SECTION(Continued) _ COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES (Continued) _ PROPRIETARY FUNDS (Continued) INTERNAL SERVICE FUNDS Combining Statement of Net Assets................................................................... 87 _ Combining Statement of Revenues, Expenses and Changes in Net Assets...................................................................................... 88 Combining Statement of Cash Flows................................................................. 89-90 Schedule of Revenues, Expenses and Changes in Net Assets -Budget and Actual Self-Insurance Fund....................................................................................... 91 — GarageFund.................................................................................................. 92 Capital Replacement Fund............................................................................ 93 FIDUCIARY FUNDS PENSION TRUST FUNDS Combining Statement of Plan Net Assets .......................................................... 94 Combining Statement of Changes in Plan Net Assets........................................ 95 Schedule of Changes in Plan Net Assets - Budget and Actual PolicePension Fund...................................................................................... 96 Firefighters' Pension Fund............................................................................ 97 STATISTICAL SECTION Financial Trends Net Assets by Component........................................................................................ 98-99 Change in Net Assets............................................................................................... 100-103 Fund Balances of Governmental Funds................................................................... 104-105 Changes in Fund Balances of Governmental Funds ................................................ 106-107 Revenue Capacity Assessed and Estimated Actual Value of Taxable Property.................................... 108 Property Tax Rates Direct and Overlapping Governments 109 Principal Revenue Taxpayers..................... .............................................................. 110 Direct and Overlapping Sales Tax Rates.................................................................. 111 VILLAGE OF OAK BROOK, ILLINOIS TABLE OF CONTENTS (Continued) Page(s) STATISTICAL SECTION(Continued) Debt Capacity Ratios of Outstanding Debt by Type........................................................................ 112 Schedule of Direct and Overlapping Bonded Debt.................................................. 113 Legal Debt Margin Information 114 Demographic and Economic Information Demographic and Economic Information................................................................ 115 Principal Employers 116 Retail Sales Volume - Top 25 Illinois Communities............................................... 117 Sales Tax Receipts - Cash Basis.............................................................................. 118 State Sales Tax Receipts by Month- Cash Basis..................................................... 119 Non-Home Rule Sales Tax Receipts by Month- Cash Basis.................................. 120 SalesTax by Category.............................................................................................. 121 Non-Home Rule Sales Tax by Category.................................................................. 122 Operating Information Budgeted Full-Time Equivalent Employees ............................................................ 123-124 OperatingIndicators................................................................................................. 125 CapitalAsset Statistics............................................................................................. 126 R �s VILLAGE OF OAK BROOK, ILLINOIS 440 PRINCIPAL OFFICIALS December 31, 2011 Gopal Lalmalani,Village President Charlotte K. Pruss, Village Clerk BOARD OF TRUSTEES fto 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 - Village of Oak Brook Organization Chart Residents January 2011 of Oak Brook i Village Clerk Village President and Board of Trustees Village Manager Village Attorney Boards and Commissions i i Public Works! Community Assistant Village Oak Brook Public Sports Core Manager Finance Director Police Chief Fire Chief Engineering Development Library Director Director Director Director I - 11 - 1 � w r ► ! � I, r � r ► j y 1 I tj ! 1 � Certificate ®f Achievement f®r Excellence in Financial Deporting Presented to Village ®f Oak Brook Illinois For its Comprehensive Annual Financial Report for the Fiscal Year Ended December 31, 2010 A Certificate of Achievement for Excellence in Financial Reporting is presented by the Govemment 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. QF , � �A 401t110 STATES u, AND CXWA � President c c 0 LION Executive Director - iii - r GE pF 04 \P B90 � o 0 A May 8, 2012 G � 2 eco U N T,( \��\ r Village of Oak Brook President and Board of Trustees -- 1200 oak Brook Road Village of Oak Brook Oak Brook,IL 60523-2255 Oak Brook, Illinois 60523 Website www.oak-brook.org 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 December Development 31, 2011. According to mandated local ordinances and state statutes it is 63030.36101 51 required that a complete set of financial statements be published and �.. FAX 630.368.5128 q 1) presented in conformance with accounting principles generally accepted in Engineering the United States of America(GAAP) and audited in accordance with Department auditing standards generally accepted in the United States of America and 630.368.5130 those standards applicable to audits performed in accordance with FAX 630.368.5128 Government Auditing Standards by licensed independent certified public Fire Department accountants. 630.368.5200 FAX 630.368.5251 Responsibility for both the accuracy of the presented data and the ... 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 in a manner designed to fairly set forth the financial position and results of Public Works the operations. Department 630.368.5270 !- 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 statements in conformity with GAAP. Internal accounting controls have 600 Oak Brook Road been designed to provide reasonable rather than absolute assurance that ,,„)ak Brook,IL 60523-2200 the financials statements will be free from material misstatement. We 630.368.7700 FAX 630.368.7704 believe that the Village's internal controls adequately safeguard assets and provide reasonable assurance of properly recorded financial transactions. -,.Oak Brook Sports Core In addition,the Village maintains budgetary controls. The objective of Bath&Tennis Club these controls is to ensure compliance with legal provisions embodied in 700 Oak Brook Road the annual budget approved by the Village Board. All disbursements Oak Brook,IL 60523-4600 630.368.6420 receive approval from the Board of Trustees. The Village also maintains FAX 630.368.6439 an encumbrance system that is used as an extension of formal budgetary .,, integration. Golf Club 2606 York Road )ak Brook,IL 60523-4602 630.368.6400 FAX 630.368.6419 - iv- r 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 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, 2011,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 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 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. r 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.org,. 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 Season's 52 are currently renovating the space formally occupied by r. Braxton's and expected to be completed in mid-2012. The Hyatt Lodge is undergoing a$5.5 million renovation and the Renaissance Hotel is evaluating several redevelopment scenarios. Sports Authority Elite opened up a 11,200 sq. ft.retail store at 15 Oakbrook Center and Thomasville Furniture opened up a 11,500 sq. ft. store in the Oak Brook Promenade. Tesla is new automotive company specializing in"high end" 100 percent electric automobiles that opened this year at 58 Oakbrook Center. Sears Roebuck and Co. has submitted a request for a planned -vi - r E- development on a portion of their property at Oakbrook Center for a two- story, 34,000 square feet Pinstripes facility that plans to open at the end of September, 2012. Pinstripes will feature bowling,bocce and a bistro environment. Ravioli Oli restaurant opened its doors at 2050 York Road in early 2012 in the Clearwater Development. New Office Development McDonald's Corporation has expanded its presence in Oak Brook by leasin 31,500 sq. ft. in the office building located at the southeast corner of 22° Street and Jorie Blvd.. Millennium Trust has construction underway for a 74,000 sq. ft. office build-out at 2001 Commerce Drive. " Comcast has expanded their presence in Oak Brook and now occupies nearly 80% of the office building located at 2001 York Road. The HUB Group, which is an intermodal company is planning to construct a new " 120,000 sq. ft. corporate headquarters facility 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. 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 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. -vii - 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. Major Initiatives In 2011, the Village completed water main projects in Timber Trails, refurbished the fire ladder truck, installed three (3)traffic signals at West 22nd Street, irrigation at the soccer fields, replaced the roof at the Golf Club,roadway improvements,pump station improvements at Station A and B,purchase of one Police Tahoe and a cargo trailer for the Water Department. Included in the 2012 budget is the 2012 paving program, equipment replacement items for various departments, numerous municipal building improvements, several water main projects and payments related to the Village's financial obligation for the I-88/22nd Street Bridge Project. A major change will be the consolidation of the Village's Communications Center with DuComm that is planned in latter part of 2012. The Hotel/Motel Fund has planned various beautification _ projects to attract and promote visitors to the area. In 2012 and after the Five-Year Financial Plan includes the majority of the Village's obligation for its share of the I-88/22nd Street Bridge Project and continuation of the annual paving program, replacement of the roof at the Public Works facility and other Public Works renovation projects to _ include locker room and garage floor, Library building generator, breathing apparatus replacement, Heritage Center improvements, and outlays for water main replacements. -viii- L L 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, 2010. In order to be awarded a Certificate of Achievement, a governmental unit t., 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 34 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 in a responsible and progressive manner. i sur Sharon Dangles Finance Director ti i - iX- i i Certified Public Accountants & Advisors — � ' �'��o Members of American Institute of Certified Public Accountants 1415 W. Diehl Road, Suite 400 • Naperville, IL 60563 INDEPENDENT AUDITOR'S REPORT The 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, 2011, which collectively comprise the Village's basic financial statements as listed in the table of contents. These basic financial statements are the responsibility of the management of the Village of Oak Brook, Illinois. Our responsibility is to express opinions on these basic 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 basic financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the basic financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall basic financial statement presentation. We believe that our audit provides a reasonable basis for our opinions. s.. 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, 2011, and the respective changes in financial position, and,where applicable, cash flows thereof for the year then ended in conformity with accounting principles generally ,o, accepted in the United States of America. 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. - 1 - M We do not express an opinion or provide any assurance on the information because the limited E.• 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 4, 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. The prior year comparative information has been derived from the Village of flak Brook, Illinois' 2010 financial statements and, in our report dated April 11, 2011,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. LOS Naperville, Illinois May 1,2012 i i S ' �.. _ 2 1 GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS ... VILLAGE OF OAK BROOK, ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS December 31, 2011 As the management of the Village of Oak Brook (the "Village"), we offer readers of the Village's financial statements this narrative overview and analysis of the financial activities of �- the Village for the fiscal year ended December 31, 2011. We encourage readers to consider the information presented here in conjunction with additional information that we have furnished in the Transmittal Letter (beginning on page iv) and the Village's Financial Statements (beginning on page 3). This discussion and analysis is designed to (1) assist the reader in focusing on significant " financial issues, (2) provide an overview of the Village's financial activity, (3) identify changes in the Village's financial position (its ability to address the next and subsequent year challenges), (4) identify any material deviations from the financial plan (the approved budget), and (5) identify individual fund issues or concerns. HIGHLIGHTS Financial Highlights • For the year ending December 31, 2011, the Village's assets exceeded liabilities by $109.5 million(net assets). • The governmental activities reported total net assets of $79.3 million, which is an increase of 3.1 million, or 4%, in comparison to the prior year. The unrestricted portion of the net assets is $13.7 million or 17.3% of the total. • The business-type activities reported total net assets of$30.3 million, which is a slight increase of$.2 million, or .60% compared to last year. Approximately 5.9% of the total, or$1.8 million is unrestricted. 4,. • The Village's total net assets increased by $3.2 million, or 3.0% compared to the prior year. • The Village had a total of$15.5 million of unrestricted net assets. • Total revenues decreased $.2 million, or .9% compared to the prior year. • Total expenses decreased $.4 million, or 1.7%, in comparison to the prior year. (See independent auditor's report) - MD&A 1 - 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 Assets presents information on all of the Village's assets and liabilities, with the difference between the two reported as net assets. 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 assets 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 assets changed during the most recent fiscal year. All changes in net assets 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 3-5) 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. 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. (See independent auditor's report) -MD&A 2 - VILLAGE OF OAK BROOK, ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued) 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 6 through 9 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 10 through 13 of this — report. 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. (See independent auditor's report) - MD&A 3 - VILLAGE OF OAK BROOK,ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued) .� The basic fiduciary fund financial statements can be found on pages 14 and 15 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 16 through 52 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 53 through 64 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 65 through 97 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, 2011. a (See independent auditor's report) - MD&A 4 - - 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 Assets The following table reflects a Summary of Net Assets for fiscal years 2011 and 2010. Table 1 -- Statement of Net Assets As of December 31, 2011 and 2010 (in millions) Governmental Business-Type Total Primary Activities Activities Government 2011 2010 2011 2010 2011 2010 Current and Other Assets $ 31.8 $ 29.1 $ 2.6 $ 4.1 $ 34.4 $ 33.2 Capital Assets 60.8 61.6 28.9 27.2 89.7 88.8 Total Assets 92.6 90.7 31.5 31.3 124.1 122.0 Long-Term Liabilities 10.1 11.6 0.6 0.9 10.7 12.5 Other Liabilities 3.3 2.9 0.6 0.3 3.9 3.2 - Total Liabilities 13.4 14.5 1.2 1.2 14.6 15.7 Net Assets: Invested in Capital Assets, Net of Debt 56.2 55.3 28.5 26.5 84.7 81.8 Restricted 9.4 3.5 - - 9.4 3.5 Unrestricted 13.7 17.4 1.8 3.6 15.5 21.0 Total Net Assets $ 79.3 $ 76.2 $ 30.3 $ 30.1 $ 109.6 $ 106.3 The Village's combined net assets increased by $3.2 million from $106.3 to $109.5 million during 2011. The increase in net assets of governmental activities is mainly due to an increase in - receivables due from the Sports Core Fund. The increase in net assets of business-type activities is primarily due to the capitalization of fixed assets. _ The invested in capital assets, net of related debt is the largest portion of net assets. 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 Assets on page 3. - (See independent auditor's report) - MD&A 5 - VILLAGE OF OAK BROOK, ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued) Governmental Activities The net assets of the Villages governmental activities increased by $3.1 million. The increase in the governmental activities invested in capital assets net of related debt is $.9 million or 1.6% compared to the prior year. The following chart shows revenues by source of governmental activities by percent of total revenues. 2011 Revenues By Source - Governmental Activities Other Other 14% Charges for Taxes Services '- 8.23% 9.84% Grants and Contributions Utility Taxes 3.65% 17.60% . Sales and Use Taxes 60.54% (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 2011 and 2010. Revenues by Source-Governmental Activities Other — i Other Tares _ s ■2010 t}f�f�bl�a i f 02011 Sales and U s e and Oont&lfions rants G r eSew�ces aha 9s dor $0 $2 $4 $6 $8 $10 $12 $14 $16 $18 Millions "1 l i 1 i I i s� (See independent auditor's report) - MD&A 8 - — VILLAGE OF OAK BROOK, ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued) Current Year Impacts Revenues—Governmental Activities For the fiscal year ended December 31, 2011, revenues totaled $26.5 million, a decrease of$.2 ` million from 2010. Revenue from sales and use taxes, which continues to be the Village's largest revenue source, amounted to more than $16.0 million or 60.5% of total revenue, a decrease of $.1 million or .62% from 2010. Utility taxes, which include the taxes imposed on electric, natural gas, and telecommunications services, were $4.7 million or 17.6% of total revenues. This represents no change from the comparable amount in 2010. The "other taxes" classification includes a number of different revenue sources including income taxes, personal property replacement taxes, and hotel taxes. For 2011, these revenues were $2.2 million or 8.2% of total revenues, with a decrease of$.1 million or 4.3% from 2010. Personal property replacement taxes, income taxes and hotel taxes decreased 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 a 78% increase in ambulance fees compared to 2010. Investment income is still experiencing low investment yields and no significant change compared to 2010. Expenses by Function -Governmental Activities i $14 $12 $10 02011 C $8 a $6 m ■2010 $4 I i I $2 $0 � e��. Sake, �o��s e ti\O� OeSK \Gose \\G Pu�\\G &meet a \ G�Nole L L I (See independent auditor's report) - MD&A9 - i L VILLAGE OF OAK BROOK,ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued) —. Expenses by Function —Governmental Activities -� Expenses for the Village of Oak Brook for Governmental activities amounted to a total of$23.5 million in 2011, a decrease of$.1 million from 2010. As required by GASB Statement No. 34, the expense totals include depreciation expense of $1.7 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 decreased $.4 million, or 6.3% compared to the prior year due to the Police union contract settlement in 2010 and several retirements. Public Safety (Fire) — these expenses reported in governmental activities decreased $.3 million, or 5.4% compared to the prior year. This was due to a decrease in personnel costs for the settlement of the union contract that occurred in 2010. The pension contributions increased slightly by $50,000 compared to the prior year. Public works expenses were $4.9 million, an increase of$.5 million from 2010 due to Roadway Improvements. Culture and recreation expenses were $1.7 million, which is not a significant change comparable to 2010. Additionally, the General Fund had reduced expenses $.1 million, or .42% 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. Business-type Activities The business-type activities in net assets increased slightly by $.2 million. The invested in capital assets, net of related debt increased by $2.0 million compared to last year mainly due to infrastructure projects that occurred in 2011. For business-type activities, revenues for the waterworks system were $5.3 million which increased $.3 million compared to the prior year. This was due to an increase in water sales revenue of 4.2% compared to 2010 and an increase in 2011 water rates. Revenues for Sports Core were $2.9 million, which increased $.4 million compared to the prior year. This was mainly due to an increase in Golf Surcharge and Bath and Tennis fees as well as improved food and beverage sales compared to 2010. For business-type activities, expenses for the waterworks system were $4.9 million or 61.0% of total expenses, which is an increase of $0.4 million from 2010. Sports Core expenses were $3.1 million or 39.0%of total expenses, no significant change from 2010. a (See independent auditor's report) - MD&A 10 - -� VILLAGE OF OAK BROOK,ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued) 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, 2011, the governmental funds (as presented on the balance sheet on page 6) had a combined fund balance of $25.3 million, which is an increase of $2.7 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, was comparable to 2010. The non-major governmental funds had a decrease of $.2 million due primarily to the Village saving funds for expenditures in the Hotel Beautification District in 2011. Proprietary Funds Net assets for the Village's two business-type activities increased $0.2 million from 2010 (see pages 10-11). In the Water Fund, net assets increased due to an increase in capital assets. In the Sports Core Fund, net assets decreased by $0.3 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 11 - VILLAGE OF OAK BROOK, ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued) — Table 3 General Fund Budgetary Highlights For the Fiscal Year Ended December 31, 2011 — Original Amended Budget Budget Actual — REVENUES AND TRANSFERS — Intergovernmental $ 11,240,960 $ 11,240,960 $ 12,087,197 Utility Taxes 4,945,000 4,945,000 4,657,683 Licenses & Permits 791,260 791,260 948,872 — Charges for Services 1,098,350 1,098,350 1,089,783 Other 807,635 807,635 625,498 Total Revenues and Transfers 18,883,205 18,883,205 19,409,033 — EXPENDITURES General Government 3,685,455 3,663,740 3,315,476 Public Safety 13,011,085 13,361,945 11,739,217 Public Works 622,355 622,355 540,047 Culture and Recreation 920,565 920,565 878,508 Debt Service 294,905 294,905 294,903 Capital Outlay 349,315 349,315 281,457 Total Expenditures and Transfers 18,883,680 19,212,825 17,049,608 Change in Fund Balance $ (475) $ (329,620) $ 2,359,425 Intergovernmental revenues were over budget due primarily to sales tax revenue receipts being _ $.9 million higher than budget projections. Charges for services were over budget due to increased activity in the building sector and an increase in ambulance fees. Licenses and permits were over budget due to increased permit activity. — Actual expenditures were $1.8 million below of the original $2.2 million below the revised budget. Due to the unforeseen future in the economic environment, the Village limited spending to only essential items in 2011 and a number of positions continued to be left vacant. (See independent auditor's report) - MD&A 12 - — - 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, 2011 and 2010. Table 4 Capital Assets As of December 31,2011 and 2010 (in millions) Governmental Business-Type Activities Activities Total 2011 2010 2011 2010 2011 2010 Land and Land Right of Way $ 32.3 $ 32.7 $ 8.3 $ 8.3 $ 40.6 $ 41.0 Buildings and Land Improvements 19.1 18.9 8.7 8.6 27.8 27.5 Machinery, Vehicles, and Equipment 8.8 9.0 5.7 5.1 14.5 14.1 Infrastructure 34.3 33.3 22.2 20.2 56.5 53.5 Construction in Progress - - 0.1 0.4 0.1 0.4 94.5 93.9 45.0 42.6 139.5 136.5 Less: Accumulated Depreciation (33.7) (32.3) (16.1) (15.4) (49.8) (47.7) Total $ 60.8 $ 61.6 $ 28.9 $ 27.2 $ 89.7 $ 88.8 At year-end, the Village's investment in capital assets (net of accumulated depreciation) for both its governmental and business-type activities was $89.7 million, an increase of$.9 million from 2010 (see Note 5 in the Notes to the Financial Statements for further information regarding capital assets). Major capital asset events during 2011 included the following: • Building Improvements at Heritage Center, HVAC replacement at the Police Gun Range, installation of three traffic signals, and refurbish Fire ladder truck totaling $.7 million that were purchased for use in governmental activities. • For business-type activities, the majority was due to water main improvements at Timber - Trails, West 22nd Street and improvements to pump stations A and B totaling $2.2 million. (See independent auditor's report) - MD&A 13 - 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 $136,256,087 based on January 1, 2010 EAV of $1,599,606,810. As of December 31, 2011, the Village has $1,710,000 of debt outstanding attributed to two 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 31,2011 Governmental Business-Type Activities Activities Total General Fund Certificates: Series 2009 (Refunding) $ 1,585,000 $ - $ 1,585,000 Series 2003 (Refunding) - 125,000 125,000 Note Payable 7,151,093 337,674 7,488,767 Total $ 8,736,093 $ 462,674 $ 9,198,767 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.. With respect to the 2003 series certificates, the Village intends to use Sports Core Fund revenues to pay the annual debt service. Thus, these obligations have been included with business-type activities. 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 two remaining annual installments until it's retired in 2013. The balance on the Illinois State Toll Highway note payable at December 31, 2011 is $3.3 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 (22°d 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, 2011 is $4.1 million. { 9 (See independent auditor's report) - MD&A 14 - -� i i VILLAGE OF OAK BROOK,ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued) 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. During the current fiscal year, unassigned fund balance in the General Fund increased from $11.7 million to $13.5 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 2012 fiscal year budget. The 2012 Budget continues to be a conservative financial plan while providing excellent services to its residents and business community. The Village continues to have a hiring freeze on staff positions unless approved by the Village Board of Trustees. Operating expenditures are projected to decrease $464,660 or 1.54% from the 2011 Budget amounts. Sales Tax which is the largest revenue source for the Village is expected to decrease 3% from 2011 collections. The Village will continue to fund its Equipment Replacement Fund for the systematic replacement of the Village's equipment and vehicle fleet. Due to the increasing costs, purchasing water from DuPage Water Commission (DWC) raised our bulk water purchase rate by 30 percent in 2012, and future increases are expected. The Public Works department has many infrastructure projects scheduled throughout the year to include, water main projects, crack sealing, paving and Spring Road to Salt Creek, 22nd Street median enhancements. The projected ending cash balance for 2012 in the General Corporate Fund of$10.3 million is equal to 6.88 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 15 - (This page is intentionally left blank.) L- VILLAGE OF OAK BROOK,ILLINOIS STATEMENT OF NET ASSETS December 31,2011 L Governmental Business-Type S.. Activities Activities Total ASSETS Cash and investments $ 23,609,139 $ 3,246,214 $ 26,855,353 Receivables(net of allowances for uncollectibles) Sales taxes 4,713,451 - 4,713,451 L Utility taxes 787,064 - 787,064 Accounts 243,873 - 243,873 Billed and unbilled water sales - 525,089 525,089 .. Allotments 16,581 - 16,581 Other 943,792 45,558 989,350 Advances to(from)other funds 2,087,000 (2,087,000) - r, Internal balances (662,761) 662,761 - Inventories 48,142 133,164 181,306 Prepaid expenses 18,166 - 18,166 Capital assets Nondepreciable 32,304,134 8,356,608 40,660,742 Depreciable,net of accumulated depreciation 28,514,648 20,589,160 49,103,808 6- Total assets 92,623,229 31,471,554 124,094,783 LIABILITIES `, Accounts payable 1,812,937 513,818 2,326,755 Accrued payroll 273,219 33,967 307,186 Accrued interest 143,841 340 144,181 Claims payable 106,500 - 106,500 Deposits 787,233 82,818 870,051 Unearned revenue 143,678 30,583 174,261 Long-term liabilities Due within one year 2,639,227 387,341 3,026,568 Due in more than one year 7,466,008 168,837 7,634,845 d. Total liabilities 13,372,643 1,217,704 14,590,347 NET ASSETS Invested in capital assets,net of related debt 56,228,665 28,483,094 84,711,759 Restricted for Itifrastructure 5,864,870 - 5,864,870 Maintenance of roadways 462,742 - 462,742 Public safety 206,563 - 206,563 Culture and recreation 2,572,126 - 2,572,126 Economic development 210,122 - 210,122 Unrestricted 13,705,498 1,770,756 15,476,254 TOTAL NET ASSETS $ 79,250,586 $ 30,253,850 $ 109,504,436 See accompanying notes to financial statements. - 3 - VILLAGE OF OAK BROOK,ILLINOIS STATEMENT OF ACTIVITIES For the Year Ended December 31,2011 �. i Program Revenues FUNCTIONS/PROGRAMS Charges Operating Capital _ PRIMARY GOVERNMENT Expenses for Services Grants Grants Governmental Activities General government $ 4,177,965 $ 1,107,190 $ 35,384 $ - Public safety 12,316,093 1,458,751 - - Public works 4,886,767 21,187 245,403 684,515 Culture and recreation 1,661,829 16,911 - - Interest 385,081 - - - Total governmental activities 23,427,735 2,604,039 280,787 684,515 Business-Type Activities Waterworks System 4,874,204 5,296,880 9,942 - Sports Core 3,112,702 2,852,773 - - Total business-type activities 7,986,906 8,149,653 9,942 - TOTAL PRIMARY GOVERNMENT $ 31,414,641 $ 10,753,692 $ 290,729 $ 684,515 ` i - 4 - T Net(Expense)Revenue and Change in Net Assets Primary Government Governmental Business-Type Activities Activities Total bw $ (3,035,391) $ - $ (3,035,391) (10,857,342) - (10,857,342) (3,935,662) - (3,935,662) (1,644,918) - (1,644,918) (385,081) - (385,081) (19,858,394) - (19,858,394) L - 432,618 432,618 (259,929) (259,929) - 172,689 172,689 (19,858,394) 172,689 (19,685,705) inn General Revenues Taxes Property 342,240 - 342,240 Replacement 247,434 - 247,434 Sales, local use 16,022,802 - 16,022,802 Utility 4,657,683 - 4,657,683 .• Hotel/motel 853,638 - 853,638 Income 648,468 - 648,468 Other 89,849 - 89,849 Investment income 31,018 6,410 37,428 Miscellaneous 6,154 - 6,154 L Total 22,899,286 6,410 22,905,696 CHANGE IN NET ASSETS 3,040,892 179,099 3,219,991 NET ASSETS,JANUARY 1 76,209,694 30,074,751 106,284,445 L NET ASSETS,DECEMBER 31 $ 79,250,586 $ 30,253,850 $ 109,504,436 �r See accompanying notes to financial statements. - 5 - VILLAGE OF OAK BROOK,ILLINOIS GOVERNMENTAL FUNDS BALANCESHEET December 31,2011 Nonmaj or Governmental Total General Infrastructure Funds Governmental ASSETS Cash and investments $ 10,730,304 $ 5,072,280 $ 3,416,667 $ 19,219,251 Receivables Sales taxes 3,250,065 1,463,386 - 4,713,451 Utility taxes 787,064 - - 787,064 Accounts 243,873 - - 243,873 Allotments - - 16,581 16,581 Other 270,779 574,518 64,794 910,091 Advances to other funds 2,087,000 - - 2,087,000 TOTAL ASSETS $ 17,369,085 $ 7,110,184 $ 3,498,042 $ 27,977,311 LIABILITIES AND FUND BALANCES i LIABILITIES Accounts payable $ 307,995 $ 1,169,899 $ 46,489 $ 1,524,383 Accrued payroll 237,514 24,742 - 262,256 Deposits payable 787,233 - - 787,233 Deferred revenue 51,868 50,673 - 102,541 Total liabilities 1,384,610 1,245,314 46,489 2,676,413 FUND BALANCES Nonspendable _ Advances 2,087,000 - - 2,087,000 Restricted Infrastructure - 5,864,870 - 5,864,870 Highways and streets - - 462,742 462,742 Public safety - - 206,563 206,563 Culture and recreation - - 2,572,126 2,572,126 Economic development - - 210,122 210,122 Unrestricted Committed Employee retirement contributions 364,483 - - 364,483 Unassigned General Fund 13,532,992 - - 13,532,992 Total fund balances 15,984,475 5,864,870 3,451,553 25,300,898 -■ TOTAL LIABILITIES AND FUND BALANCES $ 17,369,085 $ 7,110,184 $ 3,498,042 $ 27,977,311 _ See accompanying notes to financial statements. - 6 - �r VILLAGE OF OAK BROOK, ILLINOIS low RECONCILIATION OF FUND BALANCES OF GOVERNMENTAL FUNDS TO THE GOVERNMENTAL ACTIVITIES IN THE STATEMENT OF NET ASSETS December 31,2011 L FUND BALANCES OF GOVERNMENTAL FUNDS $ 25,300,898 Amounts reported for governmental activities in the statement of net assets 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 58,892,899 Interest payable is not due and payable in the current period and,therefore, is not reported in the governmental funds (143,841) Long-term liabilities are not due and payable in the current period and,therefore,are not reported in the ` governmental funds: Installment contracts payable (1,585,000) Notes payable (7,151,093) Compensated absences payable (983,788) Net pension obligation (298,736) r Net other postemployment benefit obligation (75,076) A portion of the net assets of the internal service funds .. are included in the governmental activities in the statement of net assets Capital assets 1,925,883 �, Other net assets 3,368,440 NET ASSETS OF GOVERNMENTAL ACTIVITIES $ 79,250,586 See accompanying notes to financial statements. - 7 - VILLAGE OF OAK BROOK,ILLINOIS .. GOVERNMENTAL FUNDS STATEMENT OF REVENUES,EXPENDITURES AND ,y CHANGES IN FUND BALANCES For the Year Ended December 31,2011 Nonmajor Total Governmental Governmental General Infrastructure Funds Funds REVENUES Intergovernmental S 12,087,197 $ 684,515 $ 710,087 $ 13,481,799 Non-home rule sales tax - 4,833,972 - 4,833,972 .. Utility taxes 4,657,683 - - 4,657,683 Hotel/motel taxes - - 853,638 853,638 Licenses and permits 948,872 - - 948,872 Charges for services 1,089,783 - - 1,089,783 Fines and penalties 248,120 - - 248,120 Investment income 24,868 2,967 3,183 31,018 Miscellaneous 323,664 78 - 323,742 y Total revenues 19,380,187 5,521,532 1,566,908 26,468,627 EXPENDITURES Current General government 3,315,476 - 4,363 3,319,839 Public safety 11,739,217 - 15,814 11,755,031 Public works 540,047 3,498,143 660,000 4,698,190 Culture and recreation 878,508 - 690,869 1,569,377 _ Capital outlay 281,457 - - 281,457 Debt service Principal 245,000 1,501,163 80,924 1,827,087 Interest and fiscal charges 49,903 - 336,356 386,259 Total expenditures 17,049,608 4,999,306 1,788,326 23,837,240 EXCESS(DEFICIENCY)OF REVENUES OVER EXPENDITURES 2,330,579 522,226 (221,418) 2,631,387 OTHER FINANCING SOURCES(USES) Sale of capital assets 28,846 - - 28,846 Total other financing sources(uses) 28,846 - - 28,846 NET CHANGE IN FUND BALANCES 2,359,425 522,226 (221,418) 2,660,233 FUND BALANCES,JANUARY 1 13,625,050 5,342,644 3,672,971 22,640,665 FUND BALANCES,DECEMBER 31 $ 15,984,475 $ 5,864,870 $ 3,451,553 $ 25,300,898 See accompanying notes to financial statements. - 8 - I1 4 VILLAGE OF OAK BROOK, ILLINOIS �. RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TO THE GOVERNMENTAL ACTIVITIES IN THE STATEMENT OF ACTIVITIES For the Year Ended December 31, 2011 low NET CHANGE IN FUND BALANCES - TOTAL GOVERNMENTAL FUNDS $ 2,660,233 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 652,917 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 1,827,087 w 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 (1,703,932) Loss on disposal of capital assets (3,664) Change in compensated absences (8,902) Change in interest payable 1,178 +. Change in net pension obligation (298,736) Change in net postemployment benefits obligation (50,218) The change in net assets of certain activities of internal service funds, excluding depreciation, is included in governmental activities (35,071) CHANGES IN NET ASSETS OF GOVERNMENTAL ACTIVITIES $ 3,040,892 s See accompanying notes to financial statements. - 9 - 4- VILLAGE OF OAK BROOK,ILLINOIS PROPRIETARY FUNDS STATEMENT OF NET ASSETS December 31,2011 y � Business-Type Activities Waterworks Internal System Sports Core Total Service CURRENT ASSETS Cash and investments $ 3,164,151 $ 82,063 $ 3,246,214 $ 4,389,888 Receivables Billed and unbilled water sales 525,089 - 525,089 - .� Other 1,323 44,235 45,558 33,701 Inventories - 133,164 133,164 48,142 Prepaid expenses - - - 18,166 Total current assets 3,690,563 259,462 3,950,025 4,489,897 CAPITAL ASSETS Nondepreciable 280,143 8,076,465 8,356,608 - Depreciable,net of accumulated depreciation 16,415,907 4,173,253 20,589,160 1,925,883 Total capital assets 16,696,050 12,249,718 28,945,768 1,925,883 . Total assets 20,386,613 12,509,180 32,895,793 6,415,780 CURRENT LIABILITIES Accounts payable 489,519 24,299 513,818 288,554 Accrued payroll 22,402 11,565 33,967 10,963 Accrued interest - 340 340 - Compensated absences payable 45,569 47,935 93,504 11,542 Deposits - 82,818 82,818 - .i. Unearned revenue - 30,583 30,583 41,137 Installment contracts payable - 125,000 125,000 - _ Note payable 168,837 - 168,837 - Claims payable - - - 106,500 �. Total current liabilities 726,327 322,540 1,048,867 458,696 LONG-TERM LIABILITIES Advances from other funds - 2,087,000 2,087,000 - Note payable 168,837 - 168,837 - Total long-term liabilities 168,837 2,087,000 2,255,837 - .. Total liabilities 895,164 2,409,540 3,304,704 458,696 NET ASSETS Invested in capital assets,net of related debt 16,358,376 12,124,718 28,483,094 1,925,883 Unrestricted 3,133,073 (2,025,078) 1,107,995 4,031,201 _ TOTAL NET ASSETS $ 19,491,449 $ 10,099,640 29,591,089 $ 5,957,084 Adjustment to reflect the consolidation of internal service _ fund activities related to enterprise funds 662,761 TOTAL NET ASSETS OF BUSINESS-TYPE ACTIVITIES $ 30,253,850 ..a See accompanying notes to financial statements. - 10 - VILLAGE OF OAK BROOK,ILLINOIS PROPRIETARY FUNDS STATEMENT OF REVENUES,EXPENSES AND CHANGES IN NET ASSETS For the Year Ended December 31,2011 L Business-Type Activities Waterworks Internal System Sports Core Total Service OPERATING REVENUES L Charges for services $ 5,260,924 $ 2,852,773 $ 8,113,697 $ 3,380,429 Total operating revenues 5,260,924 2,852,773 8,113,697 3,380,429 4 OPERATING EXPENSES Operations 4,335,455 2,855,170 7,190,625 744,999 Claims and insurance - - - 2,667,659 Miscellaneous - - - 295 Depreciation and amortization 492,893 250,695 743,588 323,930 Total operating expenses 4,828,348 3,105,865 7,934,213 3,736,883 OPERATING INCOME(LOSS) 432,576 (253,092) 179,484 (356,454) +� NONOPERATING REVENUES(EXPENSES) Investment income 6,574 (164) 6,410 6,087 Grants 4,556 5,386 9,942 - Gain(loss)on sale of capital assets (18,534) - (18,534) - Interest expense - (6,837) (6,837) - 1. Total nonoperating revenues(expenses) (7,404) (1,615) (9,019) 6,087 CHANGE IN NET ASSETS 425,172 (254,707) 170,465 (350,367) NET ASSETS,JANUARY 1 19,066,277 10,354,347 6,307,451 NET ASSETS,DECEMBER 31 $ 19,491,449 $ 10,099,640 $ 5,957,084 Adjustment to reflect the consolidation of internal service fund activities related to enterprise funds 8,634 CHANGE IN NET ASSETS OF BUSINESS-TYPE ACTIVITIES $ 179,099 See accompanying notes to financial statements. - 11 - r VILLAGE OF OAK BROOK,ILLINOIS PROPRIETARY FUNDS STATEMENT OF CASH FLOWS For the Year Ended December 31,2011 Business-Type Activities Waterworks Internal System Sports Core Total Service ►. CASH FLOWS FROM OPERATING ACTIVITIES Receipts from internal services transactions $ - $ - $ - $ 3,375,322 Receipts from customers and users 5,262,440 2,942,326 8,204,766 - Payments to suppliers (3,617,191) (1,339,903) (4,957,094) (3,201,956) Payments to employees (708,464) (1,502,617) (2,211,081) (222,168) Net cash from operating activities 936,785 99,806 1,036,591 (48,802) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES 1 Receipt of interfund loan - 170,000 170,000 - Receipt of grant proceeds 4,556 5,386 9,942 - Net cash from noncapital financing activities 4,556 175,386 179,942 - CASH FLOWS FROM CAPITAL AND i RELATED FINANCING ACTIVITIES Purchase of capital assets (2,155,005) (91,946) (2,246,951) (160,881) Proceeds from sale of capital assets - - - 2,349 Principal paid on installment contract payable (168,837) (100,000) (268,837) - -� Interest paid - (7,100) (7,100) - Net cash from capital and related financing activities (2,323,842) (199,046) (2,522,888) (158,532) " CASH FLOWS FROM INVESTING ACTIVITIES Purchase of investments (4,478) - (4,478) (3,574) Sale of investments - (80,693) (80,693) - Interest received 6,574 (164) 6,410 6,087 Net cash from investing activities 2,096 (80,857) (78,761) 2,513 NET INCREASE(DECREASE)IN CASH AND CASH EQUIVALENTS (1,380,405) (4,711) (1,385,116) (204,821) _ CASH AND CASH EQUIVALENTS, JANUARY 1 3,631,426 5,622 3,637,048 3,865,881 CASH AND CASH EQUIVALENTS, DECEMBER 31 $ 2,251,021 $ 911 $ 2,251,932 $ 3,661,060 i (This statement is continued on the following page.) - 12 - VILLAGE OF OAK BROOK,ILLINOIS PROPRIETARY FUNDS STATEMENT OF CASH FLOWS(Continued) For the Year Ended December 31,2011 +. Business-Type Activities Waterworks Internal System Sports Core Total Service ftv CASH AND INVESTMENTS Cash and cash equivalents $ 2,251,021 $ 911 $ 2,251,932 $ 3,661,060 i Investments 913,130 81,152 994,282 728,828 TOTAL CASH AND INVESTMENTS $ 3,164,151 $ 82,063 $ 3,246,214 $ 4,389,888 RECONCILIATION OF OPERATING INCOME(LOSS) �w TO NET CASH FLOWS FROM OPERATING ACTIVITIES Operating income(loss) $ 432,576 $ (253,092) $ 179,484 $ (356,454) Depreciation and amortization 492,893 250,695 743,588 323,930 w Adjustments to reconcile operating income(loss) to net cash from operating activities Changes in assets.and liabilities Accounts receivable 1,769 - 1,769 (3,589) Other receivable (253) 17,647 17,394 - Inventories - 20,157 20,157 7,009 Prepaid expenses - - - (1,681) Accounts payable - (7,885) (7,885) (4,821) Accrued payroll and compensated absences 9,800 378 10,178 (2,889) Deposits payable - 70,648 70,648 - Unearned revenue - 1,258 1,258 2,123 .v Claims payable - - - (12,430) NET CASH FROM OPERATING ACTIVITIES $ 936,785 $ 99,806 $ 1,036,591 $ (48,802) V r► J.. b - See accompanying notes to financial statements. - 13 - VILLAGE OF OAK BROOK, ILLINOIS W STATEMENT OF FIDUCIARY NET ASSETS December 31, 2011 ASSETS Cash $ 292,441 Investments Illinois Funds 167,821 Money market mutual funds 1,769,978 U.S. Treasury securities 3,820,763 U.S. agency securities 14,433,234 State and local obligations 3,911,330 Corporate bonds 3,728,067 Mutual funds 20,449,859 Equities 1,286,163 Accrued interest receivable 234,037 Aft Total assets 50,093,693 LIABILITIES Accounts payable 15,538 Total liabilities 15,538 NET ASSETS HELD IN TRUST FOR PENSION BENEFITS $ 50,078,155 See accompanying notes to financial statements. - 14 - VILLAGE OF OAK BROOK, ILLINOIS STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS For the Year Ended December 31,2011 ADDITIONS Contributions Employer $ 1,669,280 Employee 605,849 Total contributions 2,275,129 Investment income v Net appreciation(depreciation)in fair value of investments (480,345) Interest 1,508,359 Total investment income 1,028,014 Less investment expense (140,008) Net investment income 888,006 Total additions 3,163,135 DEDUCTIONS Benefits and refunds 3,708,496 .. Administrative 73,639 Total deductions 3,782,135 WSW NET INCREASE(DECREASE) (619,000) NET ASSETS HELD IN TRUST FOR PENSION BENEFITS T January 1 50,697,155 December 31 $ 50,078,155 See accompanying notes to financial statements. - 15 - i Ark i j (This page is intentionally left blank.) " r I I i i I j i VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS 1 �W December 31, 2011 i 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 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 aw obligated to fund all PPERS costs based upon actuarial valuations. The State of Illinois is authorized to establish benefit levels and the Village is )w 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 y 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. low - 16 - i VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) r 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) r a. Reporting Entity(Continued) Firefighters' Pension Employees Retirement System The Village's 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, including the collection and disbursement of earmarked monies (special revenue funds),the acquisition or construction of general capital assets (capital projects funds) and the servicing of general long-term debt(debt service funds). The General Fund is used to account for all activities of the general government not accounted for in some other fund. - 17 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 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). Pursuant to GASB lo- Statement No. 20,Accounting and Financial Reporting for Proprietary Funds and Other Government Entities That Use Proprietary Fund Accounting, the Village has chosen to apply all GASB pronouncements as well as those FASB pronouncements �• issued on or before November 30, 1989 to account for business-type activities and enterprise 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 assets 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 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 r„ financial statements. Major individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements. - 18 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 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. i 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. - 19 - „� i VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) s. .•� 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) d. Measurement Focus,Basis of Accounting and Financial Statement Presentation too (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 'r 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 deferred/unearned revenue on its financial statements. Deferred/unearned revenues arise when potential revenue does not meet both the measurable and available or earned criteria for recognition in the current period. �. Deferred/uneamed revenues also 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 liability for deferred/unearned revenue is removed from the financial statements and revenue is recognized. 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 AM 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. 4. -20 - am 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. 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. — 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. - 21 VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 1 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) h. Capital Assets (Continued) 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 s 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. - 22 - am 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 lendingiborrowing 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, as well as issuance costs, are deferred and amortized over the life of the bonds. Bonds payable are reported net of the applicable bond premium or discount. Bond issuance costs are reported as deferred charges and amortized over the term of the related debt. 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. in. Fund Balance/Net Assets 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 resolutions and 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. - 23 - 1 VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 1 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) M. Fund Balance/Net Assets(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 not less than six months of budgeted expenditures for the forthcoming fiscal year, exclusive of budgeted capital projects; or(b)an uncommitted cash balance equal to not less than six months of projected expenditures, exclusive of capital projects,based on the average of the first three years of the most recent Five-Year Financial Plan adopted by the Village Board. In the government-wide financial statements,restricted net assets are legally restricted by outside parties for a specific purpose. Invested in capital assets,net of related debt,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. 4W 2. DEPOSITS AND INVESTMENTS +- 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 assets as"cash and investments." The deposits and investments of the pension trust funds are held separately from those of other funds. .� 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,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(IMET), 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, insurance company general and separate accounts,mutual funds and equity securities. -24 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 2. DEPOSITS AND INVESTMENTS (Continued) 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, 2011,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 Fund in the Police and Firefighters' Pension Funds' name. b. Investments As of December 31,2011,the Village had the following investments and maturities in debt securities. Investment Maturities(in Years) Fair Less Than More Value 1 1-5 6-10 Than 10 IMET $ 6,135,973 $ - $ 6,135,973 $ - $ - TOTAL $ 6,135,973 $ - $ 6,135,973 $ - $ - 25 - .. VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) i 6- 2. DEPOSITS AND INVESTMENTS (Continued) b. Investments(Continued) u As of December 31,2011,the Police Pension Fund had the following investments and maturities in debt securities. i Investment Maturities(in Years) Fair Less More Value Than 1 1-5 6-10 Than 10 a� U.S.agencies $ 7,338,478 $ - $ 1,719,505 $ 3,567,420 $ 2,051,553 U.S.Treasuries 2,784,150 - 1,093,398 1,690,752 - State and local obligations 1,670,631 - 927,428 528,839 214,364 Corporate bonds 3,728,067 3,728,067 - - - TOTAL $ 15,521,326 $ 3,728,067 $ 3,740,331 $ 5,787,011 $ 2,265,917 As of December 31,2011,the Firefighters' Pension Fund had the following investments and maturities in debt securities. Investment Maturities(in Years) Fair Less More +R Value Than 1 1-5 6-10 Than 10 U.S.agencies $ 7,094,756 $ 1,047,484 $ 1,305,119 $ 4,488,613 $ 253,540 U.S.Treasuries 1,036,613 83,971 666,498 286,144 - '" State and local obligations 2,240,699 - 960,340 957,870 322,489 TOTAL $ 10,372,068 $ 1,131,455 $ 2,931,957 $ 5,732,627 $ 576,029 GASB 40 - Operating Funds 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 or by investing in securities issued by agencies of the United States Government, which are implicitly guaranteed by the United States Government. �- 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, 2011, the Village had greater than five percent of its overall portfolio invested in Illinois Funds (76.66%) and IMET(23.34%). The investment policy does not include any limitations as to how much the Village many hold in Illinois Funds or IMET. - 26 - ..t VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 2. DEPOSITS AND INVESTMENTS (Continued) b. Investments(Continued) GASB 40 - Operating Funds (Continued) 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 40% of the investment portfolio in equity mutual funds and the remaining 60% of the portfolio in fixed income securities. The Police _ Pension Fund has hired a fund manager, MB Financial, to advise and to manage both the fixed income and equity mutual fund portfolios. 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, or high quality state or local obligations. 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. At December 31, 2011, the Police Pension Fund had greater than 5% of its fixed income portfolio invested in obligations of the Federal Farm Credit Bureau(8.52%) the Federal Home Bank(31.04%) and Corporate Bonds (22.42%). 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: - 27 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 2. DEPOSITS AND INVESTMENTS (Continued) b. Investments(Continued) GASB 40- Police Pension Fund(Continued) r.• 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 an investment, custodial risk is the risk that, in the event of the failure of the counterparty, the Police Pension Board will not be able to recover the value of its •-- investments that are in the possession of an outside party. GASB 40 -Firefighters' Pension Fund State statutes as well as the investment policy of the Firefighters' Pension Board 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. United States agency securities are rated"AAA." For investments in state and local obligations, 100% are considered to be "AAA"rated investments. At December 31, 2011,the Firefighters' Pension Fund had greater than five percent of its fixed income portfolio invested in obligations of the Federal Farm Credit Bank �— (22.28%)and Federal Home Loan Bank(34.58%). The investment policy does not include any limitations on how much U.S. Treasury or agency securities can be held in the portfolio. - 28 - j VILLAGE OF OAK BROOK, ILLINOIS i NOTES TO FINANCIAL STATEMENTS (Continued) 2. DEPOSITS AND INVESTMENTS (Continued) b. Investments(Continued) GASB 40 -Firefighters' Pension Fund(Continued) 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: Normal Range of Allocation Allocation ~. o10% U.S. Large Cap Stocks 50% +/- s 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% 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 securities. For an investment, custodial risk is the risk that, in the event of the failure of the counterparty, the Firefighters' Pension Board 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 2011 attach as an enforceable lien on January 1, 2011, 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, 2011 and August 1, 2011 and are payable in two installments, on or about June 1, 2011 and September 1, 2011. 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). •r -29 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 4. RECEIVABLES The following receivables are included in other receivables on the statement of net assets as of December 31, 2011: GOVERNMENTAL ACTIVITIES State income tax $ 214,634 W." Hotel/motel tax 64,794 Intergovernmental , 574,518 Reinsurance 33,701 Other miscellaneous 56,145 TOTAL GOVERNMENTAL ACTIVITIES $ 943,792 BUSINESS-TYPE ACTIVITIES Members charges $ 19,763 Special events 19,805 Other miscellaneous 5,990 TOTAL BUSINESS-TYPE ACTIVITIES $ 45,558 5. CAPITAL ASSETS Capital asset activity for the year ended December 31,2011 was as follows: NNW 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 Construction in progress 362,301 - 362,301 - Total capital assets not being depreciated 32,666,435 - 362,301 32,304,134 Capital assets being depreciated Buildings,building and land improvements 18,928,332 144,468 - 19,072,800 row Computer equipment 1,323,724 51,428 - 1,375,152 Other equipment 1,874,863 - 75,108 1,799,755 Vehicles 53,120 - - 53,120 Infrastructure 33,444,865 819,322 - 34,264,187 Internal service fund vehicles 5,638,536 208,257 182,673 5,664,120 Total capital assets being depreciated 61,263,440 1,223,475 257,781 62,229,134 Less accumulated depreciation for ,.. Buildings,building and land improvements 5,658,735 448,279 - 6,107,014 Computer equipment 1,041,447 113,099 - 1,154,546 Other equipment 1,509,586 78,688 71,444 1,516,830 Vehicles 47,223 4,423 - 51,646 Infrastructure 20,410,700 735,513 - 21,146,213 Internal service fund vehicles 3,594,631 323,930 180,324 3,738,237 Total accumulated depreciation 32,262,322 1,703,932 251,768 33,714,486 -' Total capital assets being depreciated,net 29,001,118 (480,457) 6,013 28,514,648 GOVERNMENTAL ACTIVITIES CAPITAL ASSETS,NET $ 61,667,553 $ (480,457) $ 368,314 $ 60,818,782 - 30 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) •. 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 351,935 64,343 351,936 64,342 Total capital assets not being depreciated 8,644,201 64,343 351,936 8,356,608 Capital assets being depreciated Land improvements 2,907,536 17,946 - 2,925,482 Building and building improvements 5,742,895 45,939 - 5,788,834 .•. Infrastructure 20,239,129 2,071,873 94,211 22,216,791 Vehicles,machinery and equipment 5,074,839 641,980 - 5,716,819 Total capital assets being depreciated 33,964,399 2,777,738 94,211 36,647,926 r Less accumulated depreciation for Land improvements 2,147,409 65,478 - 2,212,887 Building and building improvements 2,452,891 116,914 - 2,569,805 Infrastructure 6,907,396 328,501 75,677 7,160,220 Vehicles,machinery and equipment 3,883,159 232,695 - 4,115,854 Total accumulated depreciation 15,390,855 743,588 75,677 16,058,766 Total capital assets being depreciated,net 18,573,544 2,034,150 18,534 20,589,160 BUSINESS-TYPE ACTIVITIES CAPITAL ASSETS,NET $ 27,217,745 $ 2,098,493 $ 370,470 $ 28,945,768 .. Depreciation expense was charged to functions of the primary government as follows: GOVERNMENTAL ACTIVITIES General government $ 439,576 Public safety 274,774 Public works 854,406 Culture and recreation 135,176 TOTAL DEPRECIATION EXPENSE- GOVERNMENTAL ACTIVITIES $ 1,703,932 - 31 - i 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 31,2011 as follows: Project Expended Unspent Budget To Date Balance 2011 Misc Paving Project $ 884,720 $ 786,126 $ 98,594 2011 ERP Paving Project 64,689 55,763 8,926 wow 2012 Paving Project 82,500 27,370 55,130 2012 Water Main Project 89,468 64,325 25,143 TOTAL $ 1,121,377 $ 933,584 $ 187,793 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(IRNA) .- 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. - 32 - 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$2,485,457 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$1,000 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 s been incurred but not reported. The total claim liability at year end was $106,500. A reconciliation of claims payable for the current year and that of the preceding year is as follows: 2011 2010 CLAIMS PAYABLE, BEGINNING OF YEAR $ 118,930 $ 123,600 Claims incurred and changes in estimate 2,103,243 1,991,445 Claims paid (2,115,673) (1,996,115) CLAIMS PAYABLE, END OF YEAR $ 106,500 $ 118,930 - 33 - 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 low General Fund Refunding Certificates,Series 2003 dated June 1,2003,interest at 1.50%to 3.20%,due in annual installments ranging from$65,000 to $125,000 through December 1, 2012,interest payable June 1 and December 1 of each year,secured Sports by sales and use taxes. Core $ 225,000 $ $ 100,000 $ 125,000 $ 125,000 V 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 L.. $280,000 through December 1, 2017,interest payable June 1 and December 1 of each year,secured by sales and use taxes. General 1,830,000 - 245,000 1,585,000 250,000 TOTAL $2,055,000 $ - $ 345,000 $ 1,710,000 $ 375,000 tow 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: jr Fund Debt Balance, Balance, Current Issue Retired by January i Issuances Retirements December 31 Portion Note payable to the Illinois �., Tollway for the Intergovernmental Agreement dated July 21,2009. Four Infrastructure $ 4,506,280 $ - $1,501,163 $ 3,005,117 $ 1,501,163 annual installments of �,. $1,670,000 payable June 15 and a lump sum payment by Waterworks June 15,2013. System 506,511 - 168,837 337,674 168,837 - 34- VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 7. LONG-TERM DEBT(Continued) Notes Payable (Continued) Fund Debt Balance, Balance, Current Issue Retired by January 1 Issuances Retirements December 31 Portion $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 upon sufficient pledged incremental real estate tax and sales tax. Principal is due by Promenade February 1,2024. TIF $ 4,226,900 $ $ 80,924 $ 4,145,976 $ TOTAL $ 9,239,691 $ - $ 1,750,924 $ 7,488,767 $ 1,670,000 i Debt Service Requirements to Maturity -.. i a Annual debt service requirements to maturity are as follows: Installment Contracts Installment Contracts Notes Payable from Fiscal Year Payable from Governmental Payable from Business-Type Governmental Ending Activities Activities Activities 31 I December , Principal Interest Principal Interest Principal Interest 2012 $ 250,000 $ 44,575 $ 125,000 $ 4,000 $ 1,501,163 $ - 2013 255,000 39,575 - - 1,503,954 2014 260,000 33,838 - - - - 2015 265,000 26,687 - - - - 2016 275,000 18,738 - - - - 2017 280,000 9,800 - - - 2018 - - - - - - 2019 - - - - - - 2020 - - - - - - TOTAL $ 1,585,000 $ 173,213 $ 125,000 $ 4,000 $ 3,005,117 $ - Fiscal Year Notes Payable from Ending Business-Type Activities December 31, Principal Interest 2012 $ 168,837 $ - 2013 168,837 - i TOTAL $ 337,674 $ - - 35 - 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: 6- Balance, Balance, Current January 1 Additions Reductions December 31 Portion ,.. Installment contracts payable $ 1,830,000 $ - $ 245,000 $ 1,585,000 $ 250,000 Notes payable 8,733,180 - 1,582,087 7,151,093 1,501,163 Net other postemployment benefit obligation 24,858 50,218 - 75,076 - Net pension obligation - 298,736 - 298,736 - Compensated absences* 974,886 876,522 867,620 983,788 876,522 Compensated absences- Internal Service Fund 11,318 11,542 11,318 11,542 11,542 TOTAL GOVERNMENTAL ACTIVITIES $ 11,574,242 $ 1,237,018 $ 2,706,025 $ 10,105,235 $ 2,639,227 *The compensated absences for governmental activities typically have been liquidated by the General Fund and the Infrastructure Fund. During the fiscal year,the following changes occurred in long-term liabilities reported in the business-type activities: .E Balance, Balance, Current January 1 Additions Reductions December 31 Portion �,.. Installment contracts payable $ 225,000 $ - $ 100,000 $ 125,000 $ 125,000 Notes payable 506,511 - 168,837 337,674 168,837 Compensated absences 85,734 93,504 85,734 93,504 93,504 TOTAL BUSINESS- TYPE ACTIVITIES $ 817,245 $ 93,504 $ 354,571 $ 556,178 $ 387,341 t - 36 - Ma VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 7. LONG-TERM DEBT(Continued) Legal Debt Margin 2010 assessed valuation(latest information available) $ 1,599,606,810 i Legal debt limit- 8.625%of assessed valuation $ 137,966,087 Amount of debt applicable to debt limit 1,710,000 -- LEGAL DEBT MARGIN $ 136,256,087 8. INTERFUND ACCOUNTS Advance from/to other funds Receivable Fund Payable Fund Amount General Sports Core $ 2,087,000 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. 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. Fiscal Year Ending December 31, Amount 2012 $ 278,652 2013 278,652 2014 278,652 2015 278,652 2016 278,652 Thereafter 2,229,216 TOTAL $ 3,622,476 - 37 - .,. VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 9. COMMITMENTS (Continued) a. DuPage Water Commission(Continued) 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. 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. AMC ... - 38 - APO VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 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 IMRF. 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, 2011 was 13.27% of covered payroll. - 39 - 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 _ 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 year ended December 31, 2011 was 14.81% 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, 2011,the Police Pension Plan membership consisted of: Retirees and beneficiaries currently receiving benefits 34 Terminated employees entitled to benefits but not yet receiving them 1 Current employees Vested 32 Nonvested 8 TOTAL 75 - 40 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 11. DEFINED BENEFIT PENSION PLANS (Continued) a. Plan Descriptions (Continued) 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 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., t/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. -41 - 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, 2011,the Village's contribution was 20.36% of covered payroll. The State of Illinois passed Public Act 096-1495 on December 30, 2010. As a result, effective January 1, 2011, the Village has until the year 2040 to fund 90% of the past service costs for the Police Pension Plan. Firefighters' Pension Plan 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, 2011,the Firefighters' Pension Plan membership consisted of. Retirees and beneficiaries currently receiving benefits 48 Terminated employees entitled to benefits but not _ yet receiving them - Current employees Vested 20 Nonvested 12 TOTAL 80 - 42 - 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 I; 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, 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% 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. -43 - 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, 2011,the Village's contribution was 37.03% of covered payroll. The State of Illinois passed Public Act 096-1495 on December 30, 2010. As a result, effective January 1, 2011, the Village has until the year 2040 to fund 90%of the past service costs for the Firefighters' Pension Plan. —' b. Significant Investments The following are investments (other than U.S. Government guaranteed obligations) in any one organization that represent 5.00% or more of plan net assets for either the Police or the Firefighters' Pension Plans. Information for IMRF and SLEP is not available. Plan Organization Amount Police Pension Leuthold Core Investment $ 1,452,006 Police Pension DF Dent Premier 1,422,580 6" $ 2,874,586 LPlan Organization Amount Firefighters' Pension Harbor International $ 2,057,663 Firefighters' Pension Vanguard REIT 2,298,159 $ 4,355,822 - 44 - L VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 11. DEFINED BENEFIT PENSION PLANS (Continued) C. 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, 2009 2010 2010 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, 30 Years, 30 Years, .. Open Closed Closed Significant actuarial assumptions a) Rate of return on 7.50% 6.75% 6.75% present and future assets Compounded Compounded Compounded 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 - 45 - r - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) �- 11. DEFINED BENEFIT PENSION PLANS (Continued) C. 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) 2009 $ 674,506 $ 14,848 $ 958,641 $ 839,550 2010 649,120 18,125 944,808 933,925 2011 691,908 8,458 885,339 1,082,677 Actual contribution 2009 $ 674,506 $ 14,848 $ 958,641 $ 839,550 2010 649,120 18,125 944,808 933,925 2011 691,908 8,458 674,170 995,110 Percentage of APC 2009 100.00% 100.00% 100.00% 100.00% contributed 2010 100.00% 100.00% 100.00% 100.00% 2011 100.00% 100.00% 76.15% 91.91% - NPO(asset) 2009 $ - $ - $ - $ - 2010 - - - - 2011 - - 211,169 87,567 The net pension obligation(asset)has been calculated as follows as of December 31, 2011: Police Firefighters' Pension Pension Annual required contributions $ 885,339 $ 1,082,677 Interest on net pension obligation - - Adjustment to annual required contribution - - Annual pension cost 885,339 1,082,677 Contributions made 674,170 995,110 Increased(decrease)in net pension obligation 211,169 87,567 Net pension obligation(asset), January 1 - - NET PENSION OBLIGATION(ASSET), DECEMBER 31 $ 211,169 $ 87,567 - 46 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) — 11. DEFINED BENEFIT PENSION PLANS (Continued) d. Summary Financial Information The following is summary financial information for the Police and Firefighters' Pension Plans. Statement of Plan Net Assets _ Pension Trust Police Firefighters' Pension Pension Total ASSETS Cash $ 133,147 $ 159,294 $ 292,441 .. Investments j Illinois Funds 27,954 139,867 167,821 Money market mutual funds 1,081,270 688,708 1,769,978 — U.S.Treasury securities 2,784,150 1,036,613 3,820,763 U.S. agency securities 7,338,478 7,094,756 14,433,234 State and local obligations 1,670,631 2,240,699 3,911,330 Corporate bonds 3,728,067 - 3,728,067 Mutual funds 9,729,326 10,720,533 20,449,859 Equities 1,286,163 - 1,286,163 Accrued interest receivable 148,045 85,992 234,037 .. Total assets 27,927,231 22,166,462 50,093,693 LIABILITIES Accounts payable 4,248 11,290 15,538 Total liabilities 4,248 11,290 15,538 NET ASSETS HELD IN TRUST FOR PENSION PLAN — BENEFITS $ 27,922,983 $ 22,155,172 $ 50,078,155 - 47 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) �- 11. DEFINED BENEFIT PENSION PLANS (Continued) d. Summary Financial Information(Continued) Statement of Changes in Plan Net Assets Pension Trust Police Firefighters' Pension Pension Total ADDITIONS Contributions Employer $ 674,170 $ 995,110 $ 1,669,280 Employee -15,143 290,706 605,849 Total contributions 989,313 1,285,816 2,275,129 Investment income Net appreciation(depreciation) In fair value of investments (247,661) (232,684) (480,345) Interest 711,830 796,529 1,508,359 Total investment income 464,169 563,845 1,028,014 Less investment expense (79,494) (60,514) (140,008) Net investment income 384,675 503,331 888,006 Total additions 1,373,988 1,789,147 3,163,135 DEDUCTIONS Benefits and refunds 1,832,491 1,876,005 3,708,496 Administrative 39,871 33,768 73,639 Total deductions 1,872,362 1,909,773 3,782,135 �- NET INCREASE(DECREASE) (498,374) (120,626) (619,000) NET ASSETS HELD IN TRUST FOR PENSION BENEFITS January 1 28,421,357 22,275,798 50,697,155 December 31 $ 27,922,983 $ 22,155,172 $ 50,078,155 -48 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 11. DEFINED BENEFIT PENSION PLANS (Continued) e. Funded Status u "* The funded status of the plans as of December 31, 2011 is as fol assumptions used to determine the funded status of the plans are assumptions used to determine the employer annual pension cos 000 disclosed in Note 11-c: �� 1 i j 4 0 0 ci •U 0 + Illinois Sheriff's Law Municipal Enforcement Firefighters' Police .. Retirement Personnel Pension Pension Actuarial accrued liability(AAL) $ 15,535,903 $ - $ 36,277,226 $ 40,076,989 .. Actuarial value of plan assets 9,699,712 (745,925) 22,155,173 27,922,983 Unfunded actuarial accrued liability (UAAL) 5,836,191 745,925 14,122,053 12,7 6 Funded ratio(actuarial value of plan �+ assets/AAL) 62.43% 0.00% 61.07% 68.60% Covered payroll(active plan members) $ 5,214,086 $ 57,101 $ 2,687,097 $ 3,310,998 UAAL as a percentage of covered payroll 111.93% 1306.33% 525.55% 386.11% 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 am 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. -49 - r 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, 2011,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 1 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, 2011,retirees contributed$488,717 and the Village contributed $137,854. 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. - 50 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) — .. 12. OTHER POSTEMPLOYMENT BENEFITS (Continued) Annual OPEB Costs and Net OPEB Obligation 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 31,2009 $ 101,585 $ 137,854 135.7% $ (21,542) December 31,2010 184,254 137,854 74.8% 24,858 December 31,2011 188,072 137,854 73.3% 75,076 The net OPEB obligation(NOPEBO)as of December 31, 2011 was calculated as follows: Annual required contribution $ 186,027 Interest on net OPEB obligation 1,243 Adjustment to annual required contribution 802 Annual OPEB cost 188,072 Contributions made 137,854 MM Increase in net OPEB obligation 50,218 Net OPEB obligation,beginning of year 24,858 NET OPEB OBLIGATION, END OF YEAR $ 75,076 Funded Status and Funding Progress The funded status of the Plan as of December 31, 2011 was as follows: Actuarial accrued liability(AAL) $ 2,673,072 Actuarial value of plan assets - Unfunded actuarial accrued liability(URAL) 2,673,072 Funded ratio(actuarial value of plan assets/AAL) -% Covered payroll(active plan members) $ 12,657,543 UAAL as a percentage of covered payroll 21.12% - 51 - ,^ 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. - 52 - REQUIRED SUPPLEMENTARY INFORMATION V VILLAGE OF OAK BROOK,ILLINOIS GENERALFUND SCHEDULE OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCE-BUDGET AND ACTUAL I For the Year Ended December 31,2011 (With Comparative Actual) � II 2011 Variance 6. Original Final Over 2010 Budget Budget Actual (Under) Actual REVENUES L Intergovernmental $ 11,240,960 $ 11,240,960 $ 12,087,197 $ 846,237 $ 12,263,433 Utility taxes 4,945,000 4,945,000 4,657,683 (287,317) 4,669,414 Licenses and permits 791,260 791,260 948,872 157,612 843,139 Charges for services 1,098,350 1,098,350 1,089,783 (8,567) 943,638 Fines and penalties 333,360 333,360 248,120 (85,240) 229,246 Investment income 125,000 125,000 24,868 (100,132) 92,481 Miscellaneous 349,275 349,275 323,664 (25,611) 519,433 L. Total revenues 18,883,205 18,883,205 19,380,187 496,982 19,560,784 EXPENDITURES Current General government 3,685,455 3,663,740 3,315,476 (348,264) 3,517,696 Public safety 13,011,085 13,361,945 11,739,217 (1,622,728) 12,505,688 L Public works 622,355 622,355 540,047 (82,308) 694,497 Culture and recreation 920,565 920,565 878,508 (42,057) 856,049 Capital outlay 349,315 349,315 281,457 (67,858) 347,128 L Debt service - Principal 245,000 245,000 245,000 245,000 Interest and fiscal charges 49,905 49,905 49,903 (2) 52,529 LTotal expenditures 18,883,680 19,212,825 17,049,608 (2,163,217) 18,218,587 EXCESS(DEFICIENCY)OF REVENUES OVER EXPENDITURES (475) (329,620) 2,330,579 2,660,199 1,342,197 6W OTHER FINANCING SOURCES(USES) Sale of capital assets - - 28,846 28,846 - LTotal other financing sources(uses) - - 28,846 28,846 - NET CHANGE IN FUND BALANCE $ (475) $ (329,620) 2,359,425 $ 2,689,045 1,342,197 FUND BALANCE,JANUARY 1 13,625,050 12,282,853 FUND BALANCE,DECEMBER 31 $ 15,984,475 $ 13,625,050 I L i I i.. L (See independent auditor's report.) - 53 - VILLAGE OF OAK BROOK, ILLINOIS NOTES TO REQUIRED SUPPLEMENTARY INFORMATION December 31, 2011 Budgets 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 for a legal level of control at the program level. All annual appropriations lapse at fiscal year end. 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 the 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 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. - 54- .. i VILLAGE OF OAK BROOK,ILLINOIS SCHEDULE OF FUNDING PROGRESS ILLINOIS MUNICIPAL RETIREMENT FUND December 31,2011 �. (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)-(l) Payroll (4)/(5) 2006 $ 12,350,563 $ 14,160,884 87.22% $ 1,810,321 $ 6,036,741 29.99% 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% (See independent auditor's report.) - 55 - VILLAGE OF OAK BROOK,ILLINOIS SCHEDULE OF FUNDING PROGRESS SHERIFF'S LAW ENFORCEMENT PERSONNEL December 31,2011 (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)-Q) Payroll (4)/(5) 2006 $ 40,982 $ 4,052 1011.40% $ (36,930) $ 115,531 (31.97%) 2007 64,632 28,962 223.16% (35,670) 120,808 (29.53%) 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% Note:The Village no longer had any participants in SLEP as of December 31,2011. 1 I 1 E i i i I 1 (See independent auditor's report.) - 56 - VILLAGE OF OAK BROOK,ILLINOIS SCHEDULE OF FUNDING PROGRESS POLICE PENSION FUND December 31,2011 (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) 2006 $ 26,414,388 $ 30,625,818 86.25% $ 4,211,430 $ 3,162,857 133.15% 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% (See independent auditor's report.) - 57 - VILLAGE OF OAK BROOK,ILLINOIS SCHEDULE OF FUNDING PROGRESS FIREFIGHTERS'PENSION FUND December 31,2011 (4) UAAL _ (2) Unfunded (ORAL) Actuarial (Overfunded) as a Actuarial (1) Accrued (3) AAL Percentage Valuation Actuarial Liability Funded (UAAL) (5) of Covered Date Value of (AAL) Ratio (ORAL) Covered Payroll December 31, Assets Entry-Age (1)/(2) (2)-(1) Payroll (4)/(5) 2006 $ 21,567,521 $ 27,373,120 78.79% $ 5,805,599 $ 2,563,057 226.51% 1 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% 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% 2011 22,155,173 36,277,226 61.07% 14,122,053 2,687,097 525.55% .r +t (See independent auditor's report.) - 58 - VILLAGE OF OAK BROOK,ILLINOIS SCHEDULE OF FUNDING PROGRESS OTHER POSTEMPLOYMENT BENEFIT PLAN December 31,2011 (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% 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.. a.. (See independent auditor's report.) - 59 - VILLAGE OF OAK BROOK, ILLINOIS a SCHEDULE OF EMPLOYER CONTRIBUTIONS ILLINOIS MUNICIPAL RETIREMENT FUND December 31, 2011 Annual Fiscal Required Year Employer Contribution Percentage December 31, Contributions (ARC) Contributed ^- 2006 $ 577,112 $ 577,112 100.00% 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% i I j i a i I i (See independent auditor's report.) - 60 - VILLAGE OF OAK BROOK, ILLINOIS SCHEDULE OF EMPLOYER CONTRIBUTIONS SHERIFF'S LAW ENFORCEMENT PERSONNEL December 31, 2011 Annual Fiscal Required Year Employer Contribution Percentage December 31, Contributions (ARC) Contributed 2006 $ 15,562 $ 15,562 100.00% 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% L (See independent auditor's report.) - 61 - i.. VILLAGE OF OAK BROOK, ILLINOIS SCHEDULE OF EMPLOYER CONTRIBUTIONS POLICE PENSION FUND _ December 31, 2011 Annual Fiscal Required Year Employer Contribution Percentage December 31, Contributions (ARC) Contributed 2006 $ 549,750 $ 549,750 100.00% 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% (See independent auditor's report.) - 62 - VILLAGE OF OAK BROOK, ILLINOIS SCHEDULE OF EMPLOYER CONTRIBUTIONS FIREFIGHTERS' PENSION FUND December 31, 2011 Annual Fiscal Required Year Employer Contribution Percentage December 31, Contributions (ARC) Contributed i 2006 $ 584,388 $ 584,388 100.00% -- 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% (See independent auditor's report.) - 63 - MAJOR GOVERNMENTAL FUNDS MAJOR GOVERNMENTAL FUNDS General Fund-to account for resources traditionally associated with governments which are not required to be 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. L VILLAGE OF OAK BROOK,ILLINOIS GENERALFUND L.. SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL For the Year Ended December 31,2011 L. (With Comparative Actual) 2011 Variance Original Final Over 2010 Budget Budget Actual (Under) Actual GENERAL GOVERNMENT Legislative and general management Board of trustees Personnel $ 75,300 $ 79,825 $ 66,814 $ (13,011) $ 65,373 Materials and supplies 2,000 2,000 2,954 954 1,313 Operation and contractual 148,500 148,500 83,910 (64,590) 111,392 Total board of trustees 225,800 230,325 153,678 (76,647) 178,078 Village clerk Personnel 128,080 128,080 107,612 (20,468) 89,565 Materials and supplies 830 830 449 (381) 393 Operation and contractual 16,200 16,200 5,454 (10,746) 11,316 Total Village clerk 145,110 145,110 113,515 (31,595) 101,274 Legal ~' Personnel 17,740 17,740 18,433 693 17,772 Materials and supplies 25 25 198 173 153 Operation and contractual 436,060 409,820 386,507 (23,313) 362,502 Total legal 453,825 427,585 405,138 (22,447) 380,427 General management Personnel 300,850 313,850 314,619 769 270,538 ... Materials and supplies 1,400 1,400 902 (498) 892 Operation and contractual 41,120 28,120 26,617 (1,503) 55,561 Total general management 343,370 343,370 342,138 (1,232) 326,991 a.. Human resources Personnel 275,420 243,000 219,850 (23,150) 146,507 Materials and supplies 1,900 1,900 1,578 (322). 2,281 Operation and contractual 159,000 159,000 132,842 (26,158) 101,660 Total human resources 436,320 403,900 354,270 (49,630) 250,448 Risk management Personnel 54,470 54,470 47,012 (7,458) 90,616 Materials and supplies 5,000 - - - Operation and contractual 609,025 634,025 629,728 (4,297) 736,675 i.� Total risk management 668,495 688,495 676,740 (11,755) 827,291 Emergency management Personnel 13,335 13,335 8,718 (4,617) 1,566 Materials and supplies 12,650 12,650 3,737 (8,913) 9,766 Operation and contractual 9,000 9,000 7,071 (1,929) 3,371 Total emergency management 34,985 34,985 19,526 (15,459) 14,703 r.. (This schedule is continued on the following pages.) - 66 - VILLAGE OF OAK BROOK,ILLINOIS GENERAL FUND SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL(Continued) For the Year Ended December 31,2011 (With Comparative Actual) dM 2011 Variance Original Final Over 2010 Budget Budget Actual (Under) Actual ... GENERAL GOVERNMENT(Continued) Legislative and general management(Continued) General services ..� Personnel $ 76,865 $ 75,560 $ 72,701 $ (2,859) $ 105,026 Materials and supplies 81,770 76,270 75,042 (1,228) 67,356 Operation and contractual 13,550 20,355 20,238 (117) 14,231 Total general services 172,185 172,185 167,981 (4,204) 186,613 Purchasing Personnel 61,675 61,675 59,150 (2,525) 38,086 Materials and supplies 150 150 613 463 613 Operation and contractual 2,000 2,000 90 (1,910) 216 Total purchasing 63,825 63,825 59,853 (3,972) 38,915 Information systems Personnel 291,130 300,545 299,570 (975) 282,175 Materials and supplies 29,300 32,305 32,888 583 26,846 Operation and contractual 243,700 243,700 235,422 (8,278) 231,875 ..� Capital 91,365 91,365 92,821 1,456 189,558 Total information systems 655,495 667,915 660,701 (7,214) 730,454 Community events Operation and contractual 152,443 Total community events - - - 152,443 Total legislative and general management 3,199,410 3,177,695 2,953,540 (224,155) 3,187,637 Community development management Personnel 281,655 281,655 267,599 (14,056) 263,968 Materials and supplies 900 900 236 (664) 237 Operation and contractual 1,300 1,300 23 (1,277) - Total community development ... management 283,855 283,855 267,858 (15,997) 264,205 Economic development Personnel 1,350 1,350 431 (919) Operation and contractual 158,000 158,000 89,665 (68,335) Total economic development 159,350 159,350 90,096 (69,254) - SIR Code enforcement Personnel 372,020 372,020 387,739 15,719 371,851 Materials and supplies 3,800 3,800 2,529 (1,271) 1,301 Operation and contractual 34,475 34,475 32,153 (2,322) 46,632 Total code enforcement 410,295 410,295 422,421 12,126 419,784 Total community development management 853,500 853,500 780,375 (73,125) 683,989 (This schedule is continued on the following pages.) MEN - 67 - VILLAGE OF OAK BROOK,ILLINOIS GENERAL FUND a.. SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL(Continued) For the Year Ended December 31,2011 (With Comparative Actual) .. 2011 Variance Original Final Over 2010 Budget Budget Actual (Under) Actual GENERAL GOVERNMENT(Continued) Financial services Financial services management Personnel $ 125,375 $ 125,375 $ 122,815 $ (2,560) $ 103,542 r. Materials and supplies 685 685 85 (600) 537 Operation and contractual 38,680 33,075 34,366 1,291 28,114 Total financial services management 164,740 159,135 157,266 (1,869) 132,193 Accounting and reporting Personnel 235,890 226,890 233,034 6,144 247,950 Materials and supplies 5,725 8,725 6,592 (2,133) 3,456 Operation and contractual 27,250 38,855 33,085 (5,770) 23,015 Total accounting and reporting 268,865 274,470 272,711 (1,759) 274,421 PSEBA benefits Personnel 31,000 31,000 27,600 (3,400) 28,145 Total financial services 464,605 464,605 457,577 (7,028) 434,759 Engineering and capital projects * ' Municipal building improvements Operation and contractual 9,500 9,500 - (9,500) - Capital 231,500 231,500 162,450 (69,050) 157,570 L.. Total engineering and capital projects 241,000 241,000 162,450 (78,550) 157,570 Expenditure reimbursements paid to other funds 163,980 163,980 130,980 (33,000) 128,704 Subtotal general government 4,922,495 4,900,780 4,484,922 (415,858) 4,592,659 Less reimbursements from other funds (914,175) (914,175) (914,175) (727,835) r.. Total general government 4,008,320 3,986,605 3,570,747 (415,858) 3,864,824 PUBLIC SAFETY Police department Police services management Personnel 343,420 343,420 312,615 (30,805) 429,597 Materials and supplies 3,200 3,200 3,187 (13) 1,318 Operation and contractual 76,480 101,320 85,387 (15,933) 106,329 6- Total police services management 423,100 447,940 401,189 (46,751) 537,244 Police field services Personnel 3,974,005 3,954,005 3,548,845 (405,160) 3,945,952 Materials and supplies 43,950 43,950 38,615 (5,335) 28,940 Operation and contractual 227,120 227,120 228,781 1,661 240,938 Total police field services 4,245,075 4,225,075 3,816,241 (408,834) 4,215,830 (This schedule is continued on the following pages.) - 68 - VILLAGE OF OAK BROOK,ILLINOIS ^ GENERALFUND SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL(Continued) For the Year Ended December 31,2011 ^ (With Comparative Actual) 2011 Variance Original Final Over 2010 Budget Budget Actual (Under) Actual ^ PUBLIC SAFETY(Continued) Police department(Continued) Police general support ^ Personnel $ 391,315 $ 380,815 $ 377,888 $ (2,927) $ 376,091 Materials and supplies 25,825 25,825 19,924 (5,901) 20,080 Operation and contractual 2,350 2,350 1,876 (474) 944 Total police general support 419,490 408,990 399,688 (9,302) 397,115 Police investigations Personnel 1,047,745 1,069,145 979,733 (89,412) 938,080 Materials and supplies 17,790 17,790 11,780 pp� (6,010) 5,758 Operation and contractual 15,035 15,035 18,410 3,375 14,534 Total police investigations 1,080,570 1,101,970 1,009,923 (92,047) 958,372 Police communications center Personnel 596,590 596,590 580,081 (16,509) 629,362 Materials and supplies 32,290 32,290 2,902 (29,388) 7,444 Operation and contractual 310,555 310,555 174,741 (135,814) 91,716 not Total police communications center 939,435 939,435 757,724 (181,711) 728,522 _ Police records Personnel 138,865 138,865 117,169 (21,696) 113,040 Materials and supplies 9,000 9,000 3,454 (5,546) 3,107 Operation and contractual 20,350 20,350 17,357 (2,993) 8,458 Total police records 168,215 168,215 137,980 (30,235) 124,605 Public relations/crime prevention Personnel 20,015 30,515 20,234 (10,281) 26,288 Materials and supplies 500 500 - (500) 703 ^ Operation and contractual 21,200 21,200 12,850 (8,350) 9,563 Total public relations/crime prevention 41,715 52,215 33,084 (19,131) 36,554 M" Total police department 7,317,600 7,343,840 6,555,829 (788,011) 6,998 242 Fire department Fire,rescue and EMS operations ^ Personnel 4,630,490 4,955,110 4,182,968 (772,142) 4,502,831 Materials and supplies 43,885 43,885 39,984 (3,901) 39,447 Operation and contractual 161,070 161,070 162,239 1,169 163,543 Capital 26,450 26,450 26,186 (264) 9,898 Total fire,rescue and EMS opeartions 4,861,895 5,186,515 4,411,377 (775,138) 4,715 719 Fire service management Personnel 320,905 320,905 286,861 (34,044) 296,302 "ft Materials and supplies 2,185 2,185 623 (1,562) 1,285 Operation and contractual 7,410 7,410 6,089 (1,321) 6,936 - Total fire service management 330,500 330,500 293,573 (36,927) 304,523 (This schedule is continued on the following pages.) - 69 - L VILLAGE OF OAK BROOK,ILLINOIS GENERAL FUND SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL(Continued) For the Year Ended December 31,2011 `, (With Comparative Actual) �.. 2011 Variance Original Final Over 2010 Budget Budget Actual (Under) Actual PUBLIC SAFETY(Continued) Fire department(Continued) Special teams operations Materials and supplies $ 5,000 $ 5,000 $ 7,498 $ 2,498 $ 4,169 ■m Operation and contractual 6,430 6,430 4,460 (1,970) 4,225 Total special teams operations 11,430 11,430 11,958 528 8,394 Rescue and fire training Personnel 30,485 30,485 18,889 (11,596) 16,147 Materials and supplies 650 650 - (650) - Total rescue and fire training 31,135 31,135 18,889 (12,246) 16,147 L. Emergency medical services Personnel 40,855 40,855 29,163 (11,692) 29,637 Materials and supplies 13,525 13,525 13,968 443 8,833 Operation and contractual 430,595 430,595 430,646 51 424,193 Total emergency medical services 484,975 484,975 473,777 (11,198) 462,663 `.. Total fire department 5,719,935 6,044,555 5,209,574 (834,981) 5,507,446 Total public safety 13,037,535 13,388,395 11,765,403 (1,622,992) 12,505,688 6- PUBLIC WORKS Mosquito control Operation and contractual 71,625 71,625 63,639 (7,986) 69,737 a. Total mosquito control 71,625 71,625 63,639 (7,986) 69,737 Buildings and grounds Personnel 94,830 94,830 74,977 (19,853) 92,615 L Materials and supplies 38,175 38,175 35,398 (2,777) 40,486 Operation and contractual 223,355 223,355 173,855 (49,500) 233,307 Total buildings and grounds 356,360 356,360 284,230 (72,130) 366,408 Forestry Personnel 12,970 9,970 9,330 (640) 6,050 Materials and supplies 1,795 1,795 252 (1,543) 929 Operation and contractual 179,605 182,605 182,596 (9) 251,373 Total forestry 194,370 194,370 192,178 (2,192) 258,352 j Total public works 622,355 622,355 540,047 (82,308) 694,497 r L CULTURE AND RECREATION Library general operations Personnel 286,730 306,586 303,584 (3,002) 229,592 L Materials and supplies 11,985 11,985 11,771 (214) 11,018 Operation and contractual 100,810 100,810 87,878 (12,932) 84,664 Total library general operations 399,525 419,381 403,233 (16,148) 325,274 6- (This schedule is continued on the following page.) - 70- VILLAGE OF OAK BROOK,ILLINOIS GENERALFUND .� SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL(Continued) For the Year Ended December 31,2011 MR (With Comparative Actual) 2011 Variance Original Final Over 2010 Budget Budget Actual (Under) Actual CULTURE AND RECREATION(Continued) Library technical services Personnel $ 173,615 $ 153,759 $ 143,233 $ (10,526) $ 171,666 ... Materials and supplies 3,290 3,290 3,002 (288) 3,249 Operation and contractual 10,025 10,025 9,072 (953) 9,388 Total library technical services 186,930 167,074 155,307 (11,767) 184,303 _ Library reference and adult services Personnel 141,695 141,695 141,171 (524) 144,435 Materials and supplies 100,085 100,085 99,008 (1,077) 80,040 Operation and contractual 2,800 2,800 2,377 (423) 2,300 Total library reference and adult services 244,580 244,580 242,556 (2,024) 226,775 Library youth services Personnel 58,780 58,780 46,876 (11,904) 92,224 Materials and supplies 29,250 29,250 29,035 (215) 26,046 Operation and contractual 1,500 1,500 1,501 1 1,427 .., Total library youth services 89,530 89,530 77,412 (12,118) 119,697 Total culture and recreation 920,565 920,565 878,508 (42,057) 856,049 Debt service Principal 245,000 245,000 245,000 245,000 Interest and fiscal charges 49,905 49,905 49,903 (2) 52,529 Total debt service 294,905 294,905 294,903 (2) 297,529 TOTAL EXPENDITURES $ 18,883,680 $ 19,212,825 $ 17,049,608 $ (2,163,217) $ 18,218,587 am (See indepedent auditor's report.) - 71 - (This page is intentionally left blank.) VILLAGE OF OAK BROOK,ILLINOIS INFRASTRUCTURE FUND SCHEDULE OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCE-BUDGET AND ACTUAL no For the Year Ended December 31,2011 i (With Comparative Actual)t ._ I 2011 i Variance Original Final Over 2010 .� Budget Budget Actual (Under) Actual REVENUES Intergovernmental-grants $ 595,800 $ 595,800 $ 684,515 $ 88,715 $ 674,368 Non-home rule sales tax 4,675,000 4,675,000 4,833,972 158,972 4,833,425 Investment income 10,000 10,000 2,967 (7,033) 7,223 Miscellaneous 661,800 661,800 78 (661,722) 13,458 Total revenues 5,942,600 5,942,600 5,521,532 (421,068) 5,528,474 ..� EXPENDITURES Public works Geographic information systems Me Personnel 1,050 1,050 - (1,050) - 1 Materials and supplies 3,940 3,940 476 (3,464) 1,173 j Operation and contractual 147,840 147,840 142,264 (5,576) 174,441 Capital outlay - - - 14,857 Total geographic information systems 152,830 152,830 142,740 (10,090) 190,471 Management Personnel 286,755 286,755 286,183 (572) 278,483 .� I Materials and supplies 1,990 1,990 1,509 (481) 1,271 Operation and contractual 165,225 165,225 151,617 (13,608) 277,096 Total management 453,970 453,970 439,309 (14,661) 556,850 Streets-general salaries Personnel 678,525 678,525 630,972 (47,553) 714,496 i Materials and supplies 4,540 4,540 3,174 (1,366) 2,122 Operation and contractual 3,030 3,030 2,488 (542) 2,868 Total streets-general salaries 686,095 686,095 636,634 (49,461) 719,486 I Streets and traffic maintenance ..� Materials and supplies 41,725 41,725 13,076 (28,649) 17,929 Operation and contractual 330,190 330,190 268,445 (61,745) 281,560 Total streets and traffic maintenance 371,915 371,915 281,521 (90,394) 299,489 ... i Snow removal Personnel 60,015 60,015 32,152 (27,863) 58,175 Materials and supplies 125,715 125,715 82,713 (43,002) 87,490 i Operation and contractual 67,655 67,655 64,200 (3,455) 56,495 I Total snow removal 253,385 253,385 179,065 (74,320) 202,160 Drainage maintenance .n Materials and supplies 20,000 20,000 11,915 (8,085) 5,785 Operation and contractual 65,225 65,225 63,102 (2,123) 57,793 Total drainage maintenance 85,225 85,225 75,017 (10,208) 63,578 Safety pathway maintenance Materials and supplies 42,345 42,345 182 (42,163) - Operation and contractual 24,180 24,180 24,280 100 66,582 Total safety pathway maintenance 66,525 66,525 24,462 (42,063) 66,582 (This schedule is continued on the following page.) - 72 - i i VILLAGE OF OAK BROOK,ILLINOIS j INFRASTRUCTURE FUND SCHEDULE OF REVENUES,EXPENDITURES AND I CHANGES IN FUND BALANCE-BUDGET AND ACTUAL(Continued) For the Year Ended December 31,2011 (With Comparative Actual) I Variance Original Final Over 2010 LBudget Budget Actual (Under) Actual EXPENDITURES(Continued) Engineering and capital projects Engineering j Personnel $ 368,900 $ 368,900 $ 375,169 $ 6,269 $ 364,451 Materials and supplies 3,150 3,150 95 (3,055) 37 Operation and contractual 14,315 14,315 8,908 (5,407) 21,486 Total engineering 386,365 386,365 384,172 (2,193) 385,974 i 6- Roadway improvements Operation and contractual 150,000 165,200 165,125 (75) 94,405 Intergovernmental agreements 2,964,702 2,949,502 1,951,523 (997,979) 983,470 Total roadway improvements 3,114,702 3,114,702 2,116,648 (998,054) 1,077,875 Stormwater management improvements Operation and contractual 15,000 25,000 25,885 885 1,000 Capital outlay 15,000 5,000 - (5,000) 10,156 Total stormwater management improvements 30,000 30,000 25,885 (4,115) 11,156 Safety pathway improvements Operation and contractual 2,000 2,000 - (2,000) 220 Capital outlay 50,000 50,000 (50,000) - Total safety pathway improvements 52,000 52,000 - (52,000) 220 L.. Note payment 1,501,163 1,501,163 1,501,163 1,501,163 Expenditure reimbursement paid to other funds 128,475 128,475 104,475 (24,000) 128,156 Subtotal expenditures 7,282,650 7,282,650 5,911,091 (1,371,559) 5,203,160 Less reimbursements from other funds (911,785) (911,785) (911,785) - (334,710) L- Total expenditures 6,370,865 6,370,865 4,999,306 (1,371,559) 4,868,450 NET CHANGE IN FUND BALANCE $ (428,265) $ (428,265) 522,226 $ 950,491 660,024 FUND BALANCE,JANUARY 1 5,342,644 4,682,620 FUND BALANCE,DECEMBER 31 $ 5,864,870 $ 5,342,644 L.. I (See independent auditor's report.) - 73 - 6- 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. 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. VILLAGE OF OAK BROOK,ILLINOIS NONMAJOR GOVERNMENTAL FUNDS COMBINING BALANCE SHEET .. December 31,2011 Capital Special Revenue Funds Projects Fund Total Foreign Fire Nonmajor Hotel/Motel Motor Insurance Promenade Governmental Tax Fuel Tax Tax TIF Funds s ASSETS Cash and investments $ 2,553,821 $ 446,161 $ 206,563 $ 210,122 $ 3,416,667 Receivables Allotments - 16,581 - - 16,581 Other,hotel/motel tax 64,794 - - - 64,794 TOTAL ASSETS $ 2,618,615 $ 462,742 $ 206,563 $ 210,122 $ 3,498,042 LIABILITIES AND FUND BALANCES LIABILITIES Accounts payable $ 46,489 $ - $ - $ - $ 46,489 Total liabilities 46,489 - - - 46,489 FUND BALANCES Restricted Highways and streets - 462,742 - - 462,742 Public safety - - 206,563 - 206,563 _ Culture and recreation 2,572,126 - - - 2,572,126 Economic development - - - 210,122 210,122 Total fund balances 2,572,126 462,742 206,563 210,122 3,451,553 TOTAL LIABILITIES AND FUND BALANCES $ 2,618,615 $ 462,742 $ 206,563 $ 210,122 $ 3,498,042 (See independent auditor's report.) - 74 - VILLAGE OF OAK BROOK,ILLINOIS ` NONMAJOR GOVERNMENTAL FUNDS COMBINING STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES For the Year Ended December 31,2011 L. Capital Special Revenue Funds Projects Fund Total Foreign Fire Nonmajor Hotel/Motel Motor Fuel Insurance Promenade Governmental Tax Tax Tax TIF Funds REVENUES Intergovernmental $ - $ 245,403 $ 49,902 $ 414,782 $ 710,087 Hotel/motel taxes 853,638 - - - 853,638 Investment income 2,238 685 203 57 3,183 LTotal revenues 855,876 246,088 50,105 414,839 1,566,908 EXPENDITURES Current General government - - - 4,363 4,363 Public safety - - 15,814 - 15,814 Public works - 660,000 - - 660,000 Culture and recreation 690,869 - - - 690,869 Debt service Principal - - - 80,924 80,924 Interest and fiscal charges - - - 336,356 336,356 L Total expenditures 690,869 660,000 15,814 421,643 1,788,326 NET CHANGE IN FUND BALANCES 165,007 (413,912) 34,291 (6,804) (221,418) FUND BALANCES,JANUARY 1 2,407,119 876,654 172,272 216,926 3,672,971 FUND BALANCES,DECEMBER 31 $ 2,572,126 $ 462,742 $ 206,563 $ 210,122 $ 3,451,553 4 tam r L. (See independent auditor's report.) - 75 - 1 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 31,2011 (With Comparative Actual) •+ 2011 Variance Original Final Over 2010 Budget Budget Actual (Under) Actual .. REVENUES Hotel/motel taxes $ 833,250 $ 833,250 $ 853,638 $ 20,388 $ 881,887 Investment income 6,500 6,500 2,238 (4,262) 6,250 •� Total revenues 839,750 839,750 855,876 16,126 888,137 EXPENDITURES Current Culture and recreation 817,000 817,000 351,869 (465,131) 341,964 Expenditure reimbursement paid to other funds 339,000 339,000 339,000 - 338,840 Total expenditures 1,156,000 1,156,000 690,869 (465,131) 680,804 i NET CHANGE IN FUND BALANCE $ (316,250) $ (316,250) 165,007 $ 481,257 207,333 FUND BALANCE,JANUARY 1 2,407,119 2,199,786 FUND BALANCE,DECEMBER 31 $ 2,572,126 $ 2,407,119 (See independent auditor's report.) - 76 - f VILLAGE OF OAK BROOK,ILLINOIS k MOTOR FUEL TAX FUND SCHEDULE OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCE-BUDGET AND ACTUAL i For the Year Ended December 31,2011 (With Comparative Actual) 2011 Variance Original Final Over 2010 Budget Budget Actual (Under) Actual REVENUES Intergovernmental $ 255,500 $ 255,500 $ 245,403 $ (10,097) $ 258,748 Investment income 2,000 2,000 685 (1,315) 1,974 Total revenues 257,500 257,500 246,088 (11,412) 260,722 �r EXPENDITURES Current None - - - - - Expenditure reimbursement paid to other funds 660,000 660,000 660,000 - - Total expenditures 660,000 660,000 660,000 - - NET CHANGE IN FUND BALANCE $ (402,500) $ (402,500) (413,912) $ (11,412) 260,722 how FUND BALANCE,JANUARY 1 876,654 615,932 FUND BALANCE,DECEMBER 31 $ 462,742 $ 876,654 v k-- (See independent auditor's report.) - 77 - 6— 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 31,2011 (With Comparative Actual) ••. 2011 Variance Original Final Over 2010 Budget Budget Actual (Under) Actual ... REVENUES Intergovernmental $ 50,000 $ 50,000 $ 49,902 $ (98) $ 39,808 Investment income 400 400 203 (197) 2,754 Total revenues 50,400 50,400 50,105 (295) 42,562 EXPENDITURES Current Public safety 59,500 59,500 15,814 (43,686) 41,148 i Total expenditures 59,500 59,500 15,814 (43,686) 41,148 NET CHANGE IN FUND BALANCE $ (9,100) $ (9,100) 34,291 $ 43,391 1,414 FUND BALANCE,JANUARY 1 172,272 170,858 FUND BALANCE,DECEMBER 31 $ 206,563 $ 172,272 low I i — r r rr (See independent auditor's report.) .. - 78 - I VILLAGE OF OAK BROOK,ILLINOIS PROMENADE TIF FUND SCHEDULE OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCE-BUDGET AND ACTUAL For the Year Ended December 31,2011 (With Comparative Actual) 2011 Variance �.. Original Final Over 2010 Budget Budget Actual (Under) Actual REVENUES Property tax $ 360,475 $ 360,475 $ 342,240 $ (18,235) $ 360,467 Sales tax - - 72,542 72,542 69,891 Investment income 180 180 57 (123) 155 Total revenues 360,655 360,655 414,839 54,184 430,513 j EXPENDITURES L.. Current General government 5,200 5,200 4,363 (837) 5,094 Debt service Principal 91,900 91,900 80,924 (10,976) 23,100 Interest and fiscal charges 336,450 336,450 336,356 (94) 410,468 i Total expenditures 433,550 433,550 421,643 (11,907) 438,662 EXCESS(DEFICIENCY)OF REVENUES OVER EXPENDITURES (72,895) (72,895) (6,804) 66,091 (8,149) OTHER FINANCING SOURCES(USES) Transfers in 72,800 72,800 - (72,800) - Total other financing sources(uses) 72,800 72,800 - (72,800) - NET CHANGE IN FUND BALANCE $ (95) $ (95) (6,804) $ (6,709) (8,149) FUND BALANCE,JANUARY 1 216,926 225,075 r.. FUND BALANCE,DECEMBER 31 $ 210,122 $ 216,926 s (See independent auditor's report.) - 79 - PROPRIETARY FUNDS 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 ASSETS-BUDGET AND ACTUAL For the Year Ended December 31,2011 (With Comparative Actual) 2011 Variance Original Final Over 2010 Budget Budget Actual (Under) Actual .. OPERATING REVENUES Charges for services Water sales $ 4,700,000 $ 4,700,000 $ 5,122,446 $ 422,446 $ 4,916,596 Unmetered sales 25,000 25,000 25,429 429 21,991 Water tap on charges 35,000 35,000 10,263 (24,737) 5,520 Meter fees and special services 33,000 33,000 37,016 4,016 29,927 Miscellaneous 62,500 62,500 65,770 3,270 65,571 Total operating revenues 4,855,500 4,855,500 5,260,924, 405,424 5,039,605 OPERATING EXPENSES Operation of facilities 7,681,995 7,681,995 4,335,455 (3,346,540) 3,995,311 Depreciation and amortization - - 492,893 492,893 438,919 Total operating expenses 7,681,995 7,681,995 4,828,348 (2,853,647) 4,434,230 OPERATING INCOME(LOSS) (2,826,495) (2,826,495) 432,576 3,259,071 605,375 �. NONOPERATING REVENUES (EXPENSES) Investment income 37,500 37,500 6,574 (30,926) 25,606 Grants - - 41556 4,556 - Gain(loss)on sale of capital assets - - (18;534) (18,534) (89,487) Total nonoperating revenues (expenses) 37,500 37,500 (7,404) (44,904) (63,881) - CHANGE IN NET ASSETS $ (2,788,995) $ (2,788,995) 425,172 $ 3,214,167 541,494 NET ASSETS,JANUARY 1 19,066,277 18,524,783 NET ASSETS,DECEMBER 31 $ 19,491,449 $ 19,066,277 (See independent auditor's report.) ... - 80 - VILLAGE OF OAK BROOK,ILLINOIS WATERWORKS SYSTEM FUND SCHEDULE OF OPERATING EXPENSES-BUDGET AND ACTUAL e.. For the Year Ended December 31,2011 (With Comparative Actual) 2011 Variance Original Final Over 2010 Budget Budget Actual (Under) Actual OPERATING EXPENSES EXCLUDING DEPRECIATION Operation of facilities Public works-water operations Personnel $ 668,460 $ 705,460 $ 718,264 $ 12,804 $ 674,542 Materials and supplies 94,325 148,225 142,228 (5,997) 87,882 Operation and contractual 3,458,505 3,367,605 2,903,258 (464,347) 2,792,669 Reimbursements for general fund services 571,705 571,705 571,705 - 440,420 Total public works-water L, operations 4,792,995 4,792,995 4,335,455 (457,540) 3,995,513 Capital improvements Capital outlay 2,889,000 2,889,000 2,750,134 (138,866) 2,083,181 Total capital improvements 2,889,000 2,889,000 2,750,134 (138,866) 2,083,181 6. TOTAL OPERATING EXPENSES EXCLUDING DEPRECIATION- BUDGETARY BASIS $ 7,681,995 $ 7,681,995 7,085,589 $ (596,406) 6,078,694 ADJUSTMENTS TO GAAP BASIS Capital expenditures (2,750,134) (2,083,383) Depreciation and amortization expense 492,893 438,919 Total adjustments to GAAP basis (2,257,241) (1,644,464) TOTAL OPERATING EXPENSES $ 4,828,348 $ 4,434,230 w (See independent auditor's report.) - 81 - VILLAGE OF OAK BROOK,ILLINOIS r SPORTS CORE FUND SCHEDULE OF REVENUES,EXPENSES AND CHANGES IN NET ASSETS-BUDGET AND ACTUAL For the Year Ended December 31,2011 (With Comparative Actual) _ 2011 Variance Original Final Over 2010 Budget Budget Actual (Under) Actual OPERATING REVENUES Charges for services "^ Golf $ 2,131,870 $ 2,131,870 $ 1,799,559 $ (332,311) $ 1,776,211 Bath and tennis 631,800 631,800 676,525 44,725 420,445 Food and beverage 493,360 493,360 376,689 (116,671) 350,727 Total operating revenues 3,257,030 3,257,030 2,852,773 (404,257) 2,547,383 OPERATING EXPENSES ^ Golf club 1,958,655 1,854,855 1,669,117 (185,738) 1,697,504 Bath and tennis 707,160 707,160 657,951 (49,209) 655,692 Food and beverage 549,155 655,955 528,102 (127,853) 458,561 Depreciation - - 250,695 250,695 254,323 Total operating expenses 3,214,970 3,217,970 3,105,865 (112,105) 3,066,080 OPERATING INCOME(LOSS) 42,060 39,060 (253,092) (292,152) (518,697) NONOPERATING REVENUES _ (EXPENSES) Investment income 1,400 1,400 (164) (1,564) 619 Grants - - 5,386 5,386 - Interest expense (7,100) (7,100) (6,837) 263 (9,845) Total nonoperating revenues (expenses) (5,700) (5,700) (1,615) 4,085 (9,226) ^ CHANGE IN NET ASSETS $ 36,360 $ 33,360 (254,707) $ (288,067) (527,923) NET ASSETS,JANUARY 1 10,354,347 10,882,270 NET ASSETS,DECEMBER 31 $ 10,099,640 $ 10,354,347 ^ (See independent auditor's report.) - 82 - } 6w VILLAGE OF OAK BROOK,ILLINOIS SPORTS CORE FUND a,. SCHEDULE OF OPERATING REVENUES-BUDGET AND ACTUAL 4.. For the Year Ended December 31,2011 (With Comparative Actual) 2011 Variance `.. Original Final Over 2010 Budget Budget Actual (Under) Actual CHARGES FOR SERVICES aw Golf Fees $ 1,523,020 $ 1,523,020 $ 1,255,994 $ (267,026) $ 1,255,025 Golf surcharge 120,000 120,000 105,594 (14,406) 56,633 r., Memberships 282,275 282,275 235,414 (46,861) 268,920 Merchandise sales 206,575 206,575 202,557 (4,018) 195,633 Total golf 2,131,870 2,131,870 1,799,559 (332,311) 1,776,211 low Bath and tennis Fees 402,010 402,010 435,336 33,326 210,056 L, Memberships 226,290 226,290 240,982 14,692 209,795 Merchandise sales 1,500 1,500 93 (1,407) 871 Miscellaneous 2,000 2,000 114 (1,886) (277) Total bath and tennis 631,800 631,800 676,525 44,725 420,445 Food and beverage Food sales 193,360 193,360 154,384 (38,976) 131,894 Beverage sales 175,000 175,000 173,006 (1,994) 146,451 Miscellaneous 125,000 125,000 49,299 (75,701) 72,382 Total food and beverage 493,360 493,360 376,689 (116,671) 350,727 TOTAL OPERATING REVENUES $ 3,257,030 $ 3,257,030 $ 2,852,773 $ (404,257) $ 2,547,383 (See independent auditor's report.) - 83 - VILLAGE OF OAK BROOK,ILLINOIS SPORTS CORE FUND SCHEDULE OF OPERATING EXPENSES-BUDGET AND ACTUAL .. For the Year Ended December 31,2011 (With Comparative Actual) 2011 rr Variance Original Final Over 2010 Budget Budget Actual (Under) Actual OPERATING EXPENSES EXCLUDING DEPRECIATION Operations-golf club Golf club general operations Personnel $ 405,270 $ 397,970 $ 403,868 $ 5,898 $ 449,687 Materials and supplies 179,290 155,390 171,537 16,147 199,036 Operation and contractual 224,155 213,555 199,493 (14,062) 232,209 Repayment of interf ind advance 70,000 70,000 - (70,000) - Capital outlay 25,000 - 14,945 14,945 - Total golf club general operations 903,715 836,915 789,843 (47,072) 880,932 Golf club range operations Personnel 73,525 73,525 41,718 (31,807) 49,412 ." Materials and supplies 13,000 13,000 10,689 (2,311) 11,163 Operation and contractual 14,700 14,700 13,801 (899) 9,981 Total golf club range operations 101,225 101,225 66,208 (35,017) 70,556 Golf cart operations Personnel 34,610 34,610 13,160 (21,450) 14,088 Materials and supplies 5,400 5,400 70 (5,330) 444 Operation and contractual 6,200 6,200 3,542 (2,658) 5,953 Total golf cart operations 46,210 46,210 16,772 (29,438) 20,485 Golf course maintenance Personnel 602,625 598,625 593,875 (4,750) 490,472 Materials and supplies 209,030 206,030 184,733 (21,297) 206,479 Operation and contractual 30,850 37,850 32,631 (5,219) 28,580 Capital outlay 65,000 28,000 34,244 6,244 - Total golf course maintenance 907,505 870,505 845,483 (25,022) 725,531 Total operations-golf club 1,958,655 1,854,855 1,718,306 (136,549) 1,697,504 { (This schedule is continued on the following pages.) .. - 84 - VILLAGE OF OAK BROOK,ILLINOIS SPORTS CORE FUND SCHEDULE OF OPERATING EXPENSES-BUDGET AND ACTUAL(Continued) L. For the Year Ended December 31,2011 (With Comparative Actual) 2011 Variance k.. Original Final Over 2010 Budget Budget Actual (Under) Actual OPERATING EXPENSES EXCLUDING DEPRECIATION(Continued) Operations-bath and tennis General operations-Sports Core,Polo �. and Open Fields Personnel $ 154,435 $ 154,435 $ 136,049 $ (18,386) $ 238,389 Materials and supplies 17,800 17,800 9,565 (8,235) 17,272 Operation and contractual 349,530 340,030 330,997 (9,033) 121,078 Capital outlay 21,000 10,500 17,946 7,446 - Subtotal general operations 542,765 522,765 494,557 (28,208) 376,739 L.. Less reimbursements from other funds (111,215) (111,215) (104,273) 6,942 - Total general operations 431,550 411,550 390,284 (21,266) 376,739 Swimming operations Personnel 21,110 16,060 14,001 (2,059) 36,028 Materials and supplies 30,695 29,195 27,805 (1,390) 34,861 Operation and contractual 118,960 145,510 145,469 (41) 109,956 Total swimming operations 170,765 190,765 187,275 (3,490) 180,845 Tennis operations-outdoor Personnel 71,710 72,210 71,090 (1,120) 82,506 Materials and supplies 10,850 10,350 6,519 (3,831) 3,255 Operation and contractual 22,285 22,285 20,729 (1,556) 12,347 Total tennis operations-outdoor 104,845 104,845 98,338 (6,507) 98,108 Total operations-bath and tennis 707,160 707,160 675,897 (31,263) 655,692 Food and beverage Clubhouse Personnel 51,010 45,910 48,948 3,038 67,833 Materials and supplies 3,650 12,250 12,356 106 4,544 �.. Operation and contractual 63,680 80,180 72,715 (7,465) 69,507 Debt service-principal 100,000 100,000 100,000 - 100,000 Capital outlay - 13,300 13,132 (168) - Total clubhouse 218,340 251,640 247,151 (4,489) 241,884 (This schedule is continued on the following page.) - 85 - VILLAGE OF OAK BROOK,ILLINOIS +r SPORTS CORE FUND SCHEDULE OF OPERATING EXPENSES-BUDGET AND ACTUAL(Continued) For the Year Ended December 31,2011 (With Comparative Actual) 2011 Variance Original Final Over 2010 Budget Budget Actual (Under) Actual OPERATING EXPENSES EXCLUDING DEPRECIATION(Continued) Food and beverage(Continued) Poolside grill Personnel $ 26,910 $ 26,910 $ 13,366 $ (13,544) $ - Materials and supplies 22,300 29,400 31,118 1,718 858 Operation and contractual 6,800 6,800 6,435 (365) 1,821 Capital outlay - 4,600 11,680 7,080 - Total poolside grill 56,010 67,710 62,599 (5,111) 2,679 Golf clubhouse Personnel 118,380 163,180 166,920 3,740 146,306 Materials and supplies 144,300 149,300 151,455 2,155 155,636 ... Operation and contractual 12,125 24,125 24,789 664 12,056 Total golf clubhouse 274,805 336,605 343,164 6,559 313,998 Total food and beverage 549,155 655,955 652,914 (3,041) 558,561 TOTAL OPERATING EXPENSES- _ BUDGETARY BASIS $ 3,433,310 $ 3,469,610 3,047,117 $ (175,342) 2,911,757 ADJUSTMENTS TO GAAP BASIS Capital expenditures (91,947) - Depreciation expense 250,695 254,323 Debt service-principal (100,000) (100,000) Total adjustments to GAAP basis 58,748 154,323 TOTAL OPERATING EXPENSES $ 3,105,865 $ 3,066,080 I i I i i (See independent auditors report.) - 86 - I 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 expenditures relative to the replacement of major capital equipment,primarily vehicles. ` i VILLAGE OF OAK BROOK, ILLINOIS INTERNAL SERVICE FUNDS COMBINING STATEMENT OF NET ASSETS December 31, 2011 Self- Capital .. Insurance Garage Replacement Total CURRENT ASSETS Cash and investments $ 1,081,782 $ 7,246 $ 3,300,860 $ 4,389,888 Receivables Other 33,701 - - 33,701 Inventories - 48,142 - 48,142 Prepaid expenses 18,166 - - 18,166 Total current assets 1,133,649 55,388 3,300,860 4,489,897 CAPITAL ASSETS Depreciable,net of accumulated depreciation - 84,728 1,841,155 1,925,883 Net capital assets - 84,728 1,841,155 1,925,883 Total assets 1,133,649 140,116 5,142,015 6,415,780 CURRENT LIABILITIES Accounts payable 197,324 43,854 47,376 288,554 Accrued payroll 6,519 4,444 - 10,963 Compensated absences payable - 11,542 - 11,542 Unearned revenue 41,137 - - 41,137 Claims payable 106,500 - - 106,500 Total current liabilities 351,480 59,840 47,376 458,696 NET ASSETS Invested in capital assets,net of related debt - 84,728 1,841,155 1,925,883 Unrestricted 782,169 (4,452) 3,253,484 4,031,201 TOTAL NET ASSETS $ 782,169 $ 80,276 $ 5,094,639 $ 5,957,084 (See independent auditor's report.) - 87 - i 6- VILLAGE OF OAK BROOK,ILLINOIS INTERNAL SERVICE FUNDS COMBINING STATEMENT OF REVENUES,EXPENSES AND CHANGES IN NET ASSETS For the Year Ended December 31,2011 Self- Capital Insurance Garage Replacement Total OPERATING REVENUES Charges for services $ 2,555,494 $ 647,785 $ 177,150 $ 3,380,429 Total operating revenues 2,555,494 647,785 177,150 3,380,429 OPERATING EXPENSES Claims and insurance 2,667,659 - - 2,667,659 Garage operations - 744,999 - 744,999 .. Miscellaneous - - 295 295 Depreciation - 9,154 314,776 323,930 Total operating expenses 2,667,659 754,153 315,071 3,736,883 OPERATING INCOME(LOSS) (112,165) (106,368) (137,921) (356,454) NONOPERATING REVENUES(EXPENSES) Investment income 802 44 5,241 6,087 Total nonoperating revenues(expenses) 802 44 5,241 6,087 CHANGE IN NET ASSETS (111,363) (106,324) (132,680) (350,367) NET ASSETS,JANUARY 1 893,532 186,600 5,227,319 6,307,451 NET ASSETS,DECEMBER 31 $ 782,169 $ 80,276 $ 5,094,639 $ 5,957,084 (See independent auditor's report.) - 88 - VILLAGE OF OAK BROOK,ILLINOIS .AR INTERNAL SERVICE FUNDS COMBINING STATEMENT OF CASH FLOWS s For the Year Ended December 31,2011 Self- Capital Insurance Garage Replacement Total CASH FLOWS FROM OPERATING ACTIVITIES Receipts from internal services transactions $ 2,549,857 $ 648,315 $ 177,150 $ 3,375,322 Payments to suppliers (2,706,045) (495,616) (295) (3,201,956) Payments to employees - (222,168) - (222,168) Net cash from operating activities (156,188) (69,469) 176,855 (48,802) CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES None - - - Net cash from noncapital financing activities - - - - CASH FLOWS FROM CAPITAL AND ... RELATED FINANCING ACTIVITIES Purchase of capital assets - (14,339) (146,542) (160,881) Proceeds from sale of capital assets - - 2,349 2,349 Net cash from capital and related financing activities - (14,339) (144,193) (158,532) CASH FLOWS FROM INVESTING ACTIVITIES Purchase of investments - - (3,574) (3,574) Interest received 802 44 5,241 6,087 Net cash from investing activities 802 44 1,667 2,513 NET INCREASE(DECREASE)IN CASH AND CASH EQUIVALENTS (155,386) (83,764) 34,329 (204,821) .. CASH AND CASH EQUIVALENTS, JANUARY 1 1,237,168 91,010 2,537,703 3,865,881 CASH AND CASH EQUIVALENTS, DECEMBER 31 $ 1,081,782 $ 7,246 $ 2,572,032 $ 3,661,060 CASH AND INVESTMENTS Cash and cash equivalents $ 1,081,782 $ 7,246 $ 2,572,032 $ 3,661,060 Investments - - 728,828 728,828 .. TOTAL CASH AND INVESTMENTS $ 1,081,782 $ 7,246 $ 3,300,860 $ 4,389,888 r (This statement is continued on the following page.) - 89 - VILLAGE OF OAK BROOK,ILLINOIS INTERNAL SERVICE FUNDS COMBINING STATEMENT OF CASH FLOWS(Continued) �,.. For the Year Ended December 31,2011 Self- Capital Insurance Garage Replacement Total RECONCILIATION OF OPERATING INCOME (LOSS)TO NET CASH FLOWS FROM OPERATING ACTIVITIES Operating income(loss) $ (112,165) $ (106,368) $ (137,921) $ (356,454) ++ Depreciation - 9,154 314,776 323,930 Adjustments to reconcile operating income (loss)to net cash from operating activities Changes in assets and liabilities Accounts receivable (4,119) 530 - (3,589) Inventories - 7,009 - 7,009 Prepaid expenses (1,681) - - (1,681) Accounts payable (24,275) 19,454 - (4,821) Accrued payroll and compensated absences (3,641) 752 - (2,889) Unearned revenue 2,123 - - 2,123 ! Claims payable (12,430) - - (12,430) r.. NET CASH FROM OPERATING ACTIVITIES $ (156,188) $ (69,469) $ 176,855 $ (48,802) 6— t.. 6— i 1 6— (See independent auditor's report.) - 90 - VILLAGE OF OAK BROOK,ILLINOIS SELF-INSURANCE FUND SCHEDULE OF REVENUES,EXPENSES AND CHANGES IN NET ASSETS-BUDGET AND ACTUAL For the Year Ended December 31,2011 (With Comparative Actual) 2011 Variance Original Final Over 2010 Budget Budget Actual (Under) Actual OPERATING REVENUES Charges for services $ 2,859,040 $ 2,859,040 $ 2,555,494 $ (303,546) $ 2,541,834 Total operating revenues 2,859,040 2,859,040 2,555,494 (303,546) 2,541,834 OPERATING EXPENSES Claims and insurance Insurance and administration 613,200 642,445 551,986 (90,459) 525,556 Health claims 2,010,000 2,010,000 1,956,195 (53,805) 1,804,445 Dental claims 230,000 207,555 159,478 (48,077) 191,670 Total operating expenses 2,853,200 2,860,000 2,667,659 (192,341) 2,521,671 OPERATING INCOME(LOSS) 5,840 (960) (112,165) (111,205) 20,163 NONOPERATING REVENUES (EXPENSES) Investment income 2,500 2,500 802 (1,698) 1,826 Total nonoperating revenues (expenses) 2,500 2,500 802 (1,698) 1,826 CHANGE IN NET ASSETS $ 8,340 $ 1,540 (111,363) $ (112,903) 21,989 NET ASSETS,JANUARY 1 893,532 871,543 NET ASSETS,DECEMBER 31 $ 782,169 $ 893,532 (See independent auditor's report.) - 91 - VILLAGE OF OAK BROOK,ILLINOIS GARAGE FUND SCHEDULE OF REVENUES,EXPENSES AND CHANGES IN NET ASSETS-BUDGET AND ACTUAL For the Year Ended December 31,2011 (With Comparative Actual) 2011 Variance Original Final Over 2010 Budget Budget Actual (Under) Actual ... OPERATING REVENUES Charges for services $ 642,785 $ 642,785 $ 647,785 $ 5,000 $ 642,785 Total operating revenues 642,785 642,785 647,785 5,000 642,785 OPERATING EXPENSES EXCLUDING DEPRECIATION Garage operations Personnel 224,320 224,320 222,920 (1,400) 224,637 Materials and supplies 203,605 249,605 255,207 5,602 192,629 Operations and contractual 206,440 211,440 232,072 20,632 189,475 �- Expense reimbursements paid to other funds 34,800 34,800 34,800 - 26,425 Capital outlay 27,115 27,115 14,339 (12,776) 57,628 ... Total operating expenses excluding depreciation 696,280 747,280 759,338 12,058 690,794 OPERATING INCOME(LOSS) (53,495) (104,495) (111,553) (7,058) (48,009) NONOPERATING REVENUES (EXPENSES) 6- Investment income 450 450 44 (406) 229 Total nonoperating revenues 6- (expenses) 450 450 44 (406) 229 CHANGE IN NET ASSETS- BUDGETARY BASIS $ 53,045 $ 104,045 (111,509) $ (7,464) (47,780) ADJUSTMENTS TO GAAP BASIS Capital expenditures 14,339 57,628 Depreciation expense (9,154) (4,834) Total adjustments to GAAP basis 5,185 52,794 CHANGE IN NET ASSETS-GAAP BASIS (106,324) 5,014 NET ASSETS,JANUARY 1 186,600 181,586 f `- NET ASSETS,DECEMBER 31 $ 80,276 $ 186,600 (See independent auditor's report.) - 92 - i VILLAGE OF OAK BROOK,ILLINOIS CAPITAL REPLACEMENT FUND SCHEDULE OF REVENUES,EXPENSES AND CHANGES IN NET ASSETS-BUDGET AND ACTUAL " For the Year Ended December 31,2011 (With Comparative Actual) 2011 ^ Variance Original Final Over 2010 Budget Budget Actual (Under) Actual OPERATING REVENUES Charges for services $ 177,150 $ 177,150 $ 177,150 $ - $ 166,185 Total operating revenues 177,150 177,150 177,150 - 166,185 OPERATING EXPENSES EXCLUDING DEPRECIATION ^ Capital outlay 1,504,500 1,504,500 193,918 (1,310,582) 97,751 Miscellaneous - - 295 295 5,449 Total operating expenses ^ excluding depreciation 1,504,500 1,504,500 194,213 (1,310,287) 103,200 OPERATING INCOME(LOSS) (1,327,350) (1,327,350) (17,063) (1,310,287) 62,985 .., NONOPERATING REVENUES (EXPENSES) Investment income 25,000 25,000 5,241 (19,759) 18,480 ^ Gain on sale of capital assets - - - - 10,251 Total nonoperating revenues MR (expenses) 25,000 25,000 5,241 (19,759) 28,731 CHANGE IN NET ASSETS- BUDGETARY BASIS $ 1,302,350 $ 1,302,350 (11,822) $ 1,290,528 91,716 .� ADJUSTMENTS TO GAAP BASIS Capital expenditures 193,918 97,751 Depreciation expense (314,776) (333,609) ^ Total adjustments to GAAP basis (120,858) (235,858) CHANGE IN NET ASSETS-GAAP BASIS (132,680) (144,142) NET ASSETS,JANUARY 1 5,227,319 5,371,461 NET ASSETS,DECEMBER 31 $ 5,094,639 $ 5,227,319 ^ (See independent auditor's report.) .. - 93 - i sQun3 AHVIXI(ill PENSION TRUST FUNDS 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. VILLAGE OF OAK BROOK, ILLINOIS FIDUCIARY FUNDS COMBINING STATEMENT OF PLAN NET ASSETS December 31, 2011 Pension Trust Police Firefighters' Pension Pension Total ASSETS Cash $ 133,147 $ 159,294 $ 292,441 Investments _ Illinois Funds 27,954 139,867 167,821 Money market mutual funds 1,081,270 688,708 1,769,978 U.S. Treasury securities 2,784,150 1,036,613 3,820,763 U.S. agency securities 7,338,478 7,094,756 14,433,234 _ State and local obligations 1,670,631 2,240,699 3,911,330 Corporate bonds 3,728,067 - 3,728,067 - Mutual funds 9,729,326 10,720,533 20,449,859 Equities 1,286,163 - 1,286,163 Accrued interest receivable 148,045 85,992 234,037 Total assets 27,927,231 22,166,462 50,093,693 LIABILITIES Accounts payable 4,248 11,290 15,538 Total liabilities 4,248 11,290 15,538 NET ASSETS HELD IN TRUST FOR PENSION PLAN BENEFITS $ 27,922,983 $ 22,155,172 $ 50,078,155 (See independent auditor's report.) - 94 - VILLAGE OF OAK BROOK, ILLINOIS FIDUCIARY FUNDS COMBINING STATEMENT OF CHANGES IN PLAN NET ASSETS For the Year Ended December 31,2011 Pension Trust Police Firefighters' Pension Pension Total ADDITIONS Contributions Employer $ 674,170 $ 995,110 $ 1,669,280 Employee 315,143 290,706 605,849 Total contributions 989,313 1,285,816 2,275,129 Investment income _ Net appreciation(depreciation) in fair value of investments (247,661) (232,684) (480,345) Interest 711,830 796,529 1,508,359 Total investment income 464,169 563,845 1,028,014 Less investment expense (79,494) (60,514) (140,008) Net investment income 384,675 503,331 888,006 Total additions 1,373,988 1,789,147 3,163,135 DEDUCTIONS Benefits and refunds 1,832,491 1,876,005 3,708,496 Administrative 39,871 33,768 73,639 Total deductions 1,872,362 1,909,773 3,782,135 NET INCREASE(DECREASE) (498,374) (120,626) (619,000) NET ASSETS HELD IN TRUST FOR PENSION BENEFITS January 1 28,421,357 22,275,798 50,697,155 December 31 $ 27,922,983 $ 22,155,172 $ 50,078,155 (See independent auditor's report.) - 95 - { VILLAGE OF OAK BROOK,ILLINOIS POLICE PENSION FUND SCHEDULE OF CHANGES IN PLAN NET ASSETS-BUDGET AND ACTUAL _ For the Year Ended December 31,2011 (With Comparative Actual) 2011 Variance _ Original Final Over 2010 Budget Budget Actual (Under) Actual ADDITIONS Contributions Employer $ 956,030 $ 956,030 $ 674,170 $ (281,860) $ 944,808 .� Employee 360,000 360,000 315,143 (44,857) 330,556 Total contributions 1,316,030 1,316,030 989,313 (326,717) 1,275,364 Investment income Net appreciation(depreciation) in fair value of investments - - (247,661) (247,661) 1,845,946 Interest 1,750,000 1,750,000 711,830 (1,038,170) 701,444 Total investment income 1,750,000 1,750,000 464,169 (1,285,831) 2,547,390 Less investment expense (75,000) (75,000) (79,494) (4,494) (76,195) Net investment income 1,675,000 1,675,000 384,675 (1,290,325) 2,471,195 Total additions 2,991,030 2,991,030 1,373,988 (1,617,042) 3,746,559 DEDUCTIONS Benefits and refunds 1,886,000 1,886,000 1,832,491 (53,509) 1,682,802 Administrative 34,960 34,960 39,871 4,911 34,037 Total deductions 1,920,960 1,920,960 1,872,362 (48,598) 1,716,839 NET INCREASE(DECREASE) $ 1,070,070 $ 1,070,070 (498,374) $ (1,568,444) 2,029,720 NET ASSETS HELD IN TRUST FOR PENSION BENEFITS January 1 28,421,357 26,391,637 December 31 $ 27,922,983 $ 28,421,357 (See independent auditor's report.) - 96 - VILLAGE OF OAK BROOK,ILLINOIS i FIREFIGHTERS'PENSION FUND SCHEDULE OF CHANGES IN PLAN NET ASSETS-BUDGET AND ACTUAL For the Year Ended December 31,2011 (With Comparative Actual) 2011 Variance .. Original Final Over 2010 Budget Budget Actual (Under) Actual ADDITIONS Contributions Employer $ 1,006,115 $ 1,006,115 $ 995,110 $ (11,005) $ 933,925 Employee 245,605 245,605 290,706 45,101 286,332 Total contributions 1,251,720 1,251,720 1,285,816 34,096 1,220,257 i Investment income 6. Net appreciation(depreciation) in fair value of investments - - (232,684) (232,684) 1,509,158 � Interest 1,750,000 1,750,000 796,529 (953,471) 674,151 i Total investment income 1,750,000 1,750,000 563,845 (1,186,155) 2,183,309 Less investment expense - - (60,514) (60,514) (28,661) I Net investment income 1,750,000 1,750,000 503,331 (1,246,669) 2,154,648 I ... Total additions 3,001,720 3,001,720 1,789,147 (1,212,573) 3,374,905 DEDUCTIONS Benefits and refunds 1,978,400 1,978,400 1,876,005 (102,395) 1,845,870 Administrative 100,465 100,465 33,768 (66,697) 32,498 Total deductions 2,078,865 2,078,865 1,909,773 (169,092) 1,878,368 ... NET INCREASE(DECREASE) $ 922,855 $ 922,855 (120,626) $ (1,043,481) 1,496,537 NET ASSETS HELD IN TRUST �- FOR PENSION BENEFITS January 1 22,275,798 20,779,261 December 31 $ 22,155,172 $ 22,275,798 (See independent auditor's report.) - 97 - a. 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. Contents Page s 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. 98-107 Revenue Capacity aw These schedules contain information to help the reader assess the Village's ability to generate its property and sales taxes. 108-111 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. 112-114 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. 115-122 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. 123-126 Sources: Unless otherwise noted,the information in these schedules is derived from the comprehensive annual financial reports for the relevant year. The Village implemented GASB Statement No. 34 in 2003; schedules presenting government-wide information include M. information beginning in that year. VILLAGE OF OAK BROOK,ILLINOIS NET ASSETS BY COMPONENT Last Nine 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 Invested in capital assets net of related debt $ 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 - 98 - 2007 2008 2009 2010 2011 $ 62.4 $ 61.6 $ 60.6 $ 55.3 $ 56.2 - - - 3.5 9.4 19.7 22.7 16.9 17.4 13.7 $ 82.1 $ 84.3 $ 77.5 $ 76.2 $ 79.3 $ 22.7 $ 24.5 $ 24.5 $ 26.5 $ 28.5 7.0 5.8 5.5 3.6 1.8 29.7 $ 30.3 S 30.0 $ 30.1 S 30.3 w $ 85.1 $ 86.1 $ 85.1 $ 81.8 $ 84.7 - - - 3.5 9.4 e 26.7 28.5 22.4 21.0 15.5 $ 111.8 $ 114.6 $ 107.5 $ 106.3 S 109.6 s - 99 - VILLAGE OF OAK BROOK,ILLINOIS r CHANGE IN NET ASSETS Last Nine Fiscal Years r 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 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 govememntal activities expenses 19.2 20.2 22.0 22.8 Business-type activities .., 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 S 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 1.9 2.4 4.7 2.3 Business-type activities Charges for services 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) r _ 100- .a I L 1 2007 2008 2009 2010 2011 A In- $ 5.3 $ 6.2 $ 5.3 $ 3.9 $ 4.2 12.3 12.6 11.9 13.2 12.3 4.3 3.2 11.9 4.4 4.9 1.8 2.0 1.7 1.7 1.7 0.1 0.1 0.1 0.4 0.4 23.8 24.1 30.9 23.6 23.5 4.4 3.9 4.0 4.5 4.9 ._ 3.7 3.8 3.5 3.1 3.1 8.1 7.7 7.5 7.6 8.0 •- $ 31.9 $ 31.8 $ 38.4 $ 31.2 $ 31.5 I `r $ 1.7 $ 1.3 $ 1.1 $ 1.4 $ 1.1 0.9 0.8 0.8 1.1 1.5 i 0.0 0.0 0.1 - - 0.5 0.4 0.3 0.3 0.3 - - - 0.7 0.7 V 3.1 2.5 2.3 3.5 3.6 4.6 4.0 4.0 5.1 5.3 3.8 3.6 3.3 2.5 2.9 8.4 7.6 7.3 7.6 8 $ 11.5 $ 10.1 $ 9.6 $ 11.1 $ 11.8 $ (20.7) $ (21.6) $ (28.6) $ (20.1) $ (19.9) 0.3 (0.1) (0.2) $ (20.4) $ (21.7) $ (28.8) $ (20.1) $ (19.9) - 101 - VILLAGE OF OAK BROOK,ILLINOIS CHANGE IN NET ASSETS(Continued) Last Nine Fiscal Years Fiscal Year 2003 2004 2005 2006 GENERAL REVENUES AND OTHER CHANGES IN NET ASSETS Governmental activities Taxes Sales and local use taxes $ - $ $ 13.0 $ 14.2 ... j Utility - 4.3 3.8 Other - 1.6 1.5 Investment earnings - - 0.7 r 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 ASSETS Governmental activities $ - $ - $ 1.6 $ (0.1) Business-type activities (1.8) (0.4) 1.2 0.6 TOTAL PRIMARY GOVERNMENT CHANGE IN NET ASSETS $ (1.8) $ (0.4) $ 2.8 $ 0.5 Data Source Audited Financial Statements Data in millions I r r s - 102 - I WE $ WE $ ll'L $ 9'Z $ 8'Z $ I'0 Z'0 £'0 b I 0'£ $ i'£ $ (6'9) $ £'Z $ b"I $ — 67Z $ I'£Z $ L'IZ $ £'bZ $ Z'£Z $ I'0 - 17'0 I I I'0 - Z'0 8'0 - - Z'0 £'0 67Z Z'£Z L'IZ 6'£Z i'ZZ £'0 Z'0 I'0 I'0 S'0 8'0 Z'Z £'Z 97 S'Z S'Z L'b L17 617 S'b Z'b 0'91 $ I'9I $ Z'tbi $ I'9I $ b'bi $ AAM IiOZ OIOZ 60OZ 8002 LOOZ .r -ft Oft VILLAGE OF OAK BROOK,ILLINOIS FUND BALANCES OF GOVERNMENTAL FUNDS Last Ten Fiscal Years ..� Fiscal Year 2002 2003 2004 2005 GENERAL FUND Reserved $ 1,142,795 $ 1,290,284 $ 1,292,859 $ 1,291,561 Unreserved 10,479,787 9,802,818 9,949,121 11,651,504 Nonspendable - - - - Restricted - - - - rr Unrestricted Committed - - - - Unassigned - - - - r TOTAL GENERAL FUND $ 11,622,582 $ 11,093,102 $ 11,241,980 $ 12,943,065 INFRASTRUCTURE FUND ... Unreserved $ 2,027,275 $ 2,316,583 $ 2,996,267 $ 1,696,960 Nonspendable - - - - Restricted - - - - �+ TOTAL INFRASTRUCTURE FUND $ 2,027,275 $ 2,316,583 $ 2,996,267 $ 1,696,960 ALL OTHER GOVERNMENTAL FUNDS Restricted $ - $ - $ - $ - Unreserved,reported in Special Revenue Funds 1,163,310 1,065,232 850,871 609,248 Capital Project Fund - - - - TOTAL ALL OTHER GOVERNMENTAL 'r FUNDS $ 1,163,310 $ 1,065,232 $ 850,871 $ 609,248 Data Source Audited Financial Statements Note GASB Statement No.54 was implemented in 2010 and applied prospectively on this schedule. r - 104- L. 1 2006 2007 2008 2009 2010 2011 i a. ,i $ 1,292,073 $ 1,291,112 $ 1,291,975 $ 1,495,000 $ - $ - 11,731,876 12,152,083 11,493,855 10,787,853 - - - - - - 1,917,000 2,087,000 ow - - - - - 364,483 - - - - 11,708,050 13,532,992 $ 13,023,949 $ 13,443,195 $ 12,785,830 $ 12,282,853 $ 13,625,050 $ 15,984,475 y„ $ 1,919,422 $ 2,110,918 $ 4,792,595 $ 4,682,620 $ - $ - - - - - 337,699 - - - - - 5,004,945 5,864,870 `" $ 1,919,422 $ 2,110,918 $ 4,792,595 $ 4,682,620 $ 5,342,644 $ 5,864,870 *" $ - $ - $ - $ - $ 3,672,971 $ 3,451,553 780,902 1,365,470 2,225,973 2,986,576 - - *W 15,156 17,407 136,330 225,075 - - $ 796,058 $ 1,382,877 $ 2,362,303 $ 3,211,651 $ 3,672,971 $ 3,451,553 - 105 - VILLAGE OF OAK BROOK,ILLINOIS CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS Last Ten Fiscal Years Fiscal Year 2002 2003 2004 2005 �. REVENUES Sales tax revenue $ 9,982,742 $ 9,749,858 $ 10,529,690 $ 10,497,102 Non-home rule sales tax - - 1,304,467 2,422,549 Other intergovernmental 2,032,368 1,193,908 1,321,112 1,513,492 Utility taxes 4,422,058 4,500,108 4,298,744 4,268,283 Hotel/motel taxes 297,911 306,365 323,325 349,615 .. Licenses and permits 468,403 570,261 741,528 669,726 Charges for services 560,204 703,634 745,027 791,638 Fines and penalties 311,750 353,513 401,616 334,869 Investment income 486,149 158,482 104,869 286,859 Donations 25,000 410,000 - 15,000 Miscellaneous 100,766 228,477 176,630 166,340 Total revenues 18,687,351 18,174,606 19,947,008 21,315,473 EXPENDITURES General government 4,391,793 4,811,984 4,769,485 4,070,435 Public safety 9,269,396 9,537,454 9,590,916 11,158,837 Public works 1,772,431 1,906,948 2,023,984 2,954,815 Culture and recreation 1,603,019 1,554,606 1,563,457 1,594,661 Capital outlay 6,999,580 1,139,208 1,009,984 1,001,532 Debt service Principal - - - - Interest and issuance costs - - - - _ Total expenditures 24,036,219 18,950,200 18,957,826 20,780,280 EXCESS(DEFICIENCY)OF REVENUES OVER EXPENDIUTRES (5,348,868) (775,594) 989,182 535,193 OTHER FINANCING SOURCES(USES) Transfers in 535,307 200,000 - - Transfers(out) (396,707) - - - Debt issuance - - - - Debt issuance premium - - - - Payment to refund bond escrow agent - - - - Sale of capital assets 39,000 - - - Total other financing sources(uses) 177,600 200,000 - - NET CHANGE IN FUND BALANCES $ (5,171,268) $ (575,594) $ 989,182 $ 535,193 DEBT SERVICES AS A PERCENTAGE OF NONCAPITAL EXPENDITURES 0.00% 0.00% 0.00% 0.00% Data Source Audited Financial Statements - 106 - 2006 2007 2008 2009 2010 2011 $ 11,461,184 $ 11,396,397 $ 10,873,975 $ 9,748,649 $ 11,121,649 $ 11,070,404 2,641,030 2,618,565 4,874,978 4,410,438 4,833,425 4,833,972 1,535,507 1,711,638 1,893,862 1,771,733 2,545,066 2,411,395 3,822,020 4,247,675 4,520,563 4,922,115 4,669,414 4,657,683 416,507 1,262,808 1,137,614 882,649 881,887 853,638 858,401 850,965 720,847 741,380 843,139 948,872 835,390 832,008 839,504 695,630 943,638 1,089,783 292,331 375,717 345,937 313,395 229,246 248,120 562,590 682,728 431,753 80,345 110,837 31,018 25,311 45,150 - - - - 190,225 281,864 391,106 403,580 532,891 323,742 22,640,496 24,305,515 26,030,139 23,969,914 26,711,192 26,468,627 5,052,804 5,529,429 5,846,600 4,932,449 3,522,790 3,319,839 y.. 12,047,821 12,156,303 12,280,965 11,496,681 12,536,938 11,755,031 2,338,619 2,460,937 2,394,176 10,458,211 4,036,771 4,698,190 1,855,514 1,746,352 2,011,660 1,596,440 1,536,853 1,569,377 855,582 1,214,933 493,000 994,776 382,039 281,457 1R - - - 1,706,163 1,769,263 1,827,087 - - - 95,415 462,997 386,259 22,150,340 23,107,954 23,026,401 31,280,135 24,247,651 23,837,240 490,156 1,197,561 3,003,738 (7,310,221) 2,463,541 2,631,387 9,788,606 - - - - 8,861 - - �,., - - - (2,250,850) - - - - 28,846 - - - 7,546,617 - 28,846 $ 490,156 $ 1,197,561 $ 3,003,738 $ 236,396 $ 2,463,541 $ 2,660,233 0.00% 0.00% 0.00% 5.81% 9.42% 9.55% - 107- ... VILLAGE OF OAK BROOK,ILLINOIS an ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY Last Ten Levy Years (data in thousands) "'t 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 2001 $ 681,876 $ 499,605 $ - $ - $ 1,181,481 $ - $ 3,544,443 33.333% 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% 2005 934,030 547,901 - - 1,481,931 - 4,445,793 33.333% i 2006 1,011,883 566,390 - - 1,578,273 - 4,734,819 33.333% 2007 1,089,808 598,096 - - 1,687,904 - 5,063,712 33.333% r 2008 1,179,126 607,923 - - 1,787,049 - 5,361,147 33.333% I 2009 1,176,749 562,531 - - 1,739,280 - 5,217,840 33.333% r t 2010 1,088,414 511,191 - - 1,599,605 - 4,798,815 33.333% _ Data Source .. Office of the County Clerk i Note:Property in the Village is reassessed each year. Property is assessed at 33%of actual value. r _ 108 - VILLAGE OF OAK BROOK, ILLINOIS PROPERTY TAX RATES -DIRECT AND OVERLAPPING GOVERNMENTS Last Ten Levy Years Tax Levy Year 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Tax Rates Village of Oak Brook $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Basic Town 0.5072 0.4685 0.4375 0.4120 0.3961 0.3878 0.3662 0.3567 0.3579 0.3956 Junior College#502 0.1930 0.2179 0.2097 0.1972 0.1874 0.1929 0.1888 0.1858 0.2127 0.2349 Grade School#53 0.9476 0.8877 0.8984 0.8527 0.8530 0.8319 0.8060 0.7936 0.8159 0.9164 High School#86 1.4250 1.3858 1.3094 1.2310 1.1910 1.1418 1.0943 1.0804 1.0948 1.2011 Oak Brook Park District 0.1538 0.1667 0.1666 0.1589 0.1621 0.1583 0.1530 0.1504 0.1555 0.1659 TOTAL TAX RATES $ 3.2266 $ 3.1266 $ 3.0216 $2.8518 $ 2.7896 $2.7127 $2.6083 $ 2.5669 $2.6368 $ 2.9139 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 - 109 - i VILLAGE OF OAK BROOK,ILLINOIS PRINCIPAL REVENUE TAXPAYERS Current Year and Nine Years Ago 2011 2002 Sales Sales Taxes Taxes Taxpayer Revenue Taxpayer Revenue Apple Computer Costco Wholesale 6 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 1 Pharmerica Drug Systems Sears Roebuck&Co. Sears Roebuck&Co. Targe Corporation Tiffany&Co. Tiffany&Co. TOP TEN TOTAL $ 5,563,276 TOP TEN TOTAL $ 4,834,769 TOTAL SALES TAX REVENUE $ 11,048,561 TOTAL SALES TAX REVENUE $ 9,570,001 TOP TEN AS A PERCENT OF TOP TEN AS A PERCENT OF _ SALES TAX REVENUE 50.35% SALES TAX REVENUE 50.52% 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. a VILLAGE OF OAK BROOK,ILLINOIS DIRECT AND OVERLAPPING SALES TAX RATES Last Ten Fiscal Years Village DuPage County Regional Village Fiscal Direct State DuPage County Water Transportation Non-Home Rule Total Year Rate Rate Rate Commission Authority Rate Rate 2002 1.00% 5.00% 0.25% 0.25% 0.25% 0.00% 6.75% 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% V L,r 2005 1.00% 5.00% 0.25% 0.25% 0.25% 0.25% 7.00% 2006 1.00% 5.00% 0.25% 0.25% 0.25% 0.25% 7.00% r 4s 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% 2010 1.00% 5.00% 0.25% 0.25% 0.75% 0.50% 7.75% ti..� 2011 1.00% 5.00% 0.25% 0.25% 0.75% 0.50% 7.75% Data Source �.r Village and County Records 1.. h ti.. 1 60 VILLAGE OF OAK BROOK,ILLINOIS RATIOS OF OUTSTANDING DEBT BY TYPE Last Ten Fiscal Years Govermental Business-Type MR 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 out Ended Payable Payable Leases Government Assessed Valuation* Personal Income Capita* 2002 $ 3,615,000 $ 1,485,000 $ 38,136 $ 5,138,136 0.43% 3027.45% $ 590.45 2003 3,410,000 1,360,000 - 4,770,000 0.37% 2810.54% 548.15 2004 3,195,000 1,205,000 - 4,400,000 0.33% 2592.54% 505.63 2005 2,970,000 1,045,000 120,643 4,135,643 0.29% 2436.77% 475.25 2006 2,735,000 885,000 82,378 3,702,378 0.25% 2181.49% 425.46 2007 2,485,000 720,000 42,195 3,247,195 0.21% 1913.29% 373.16 2008 2,225,000 525,000 - 2,750,000 0.16% 1620.33% 316.02 2009 12,332,443 325,000 - 12,657,443 0.71% 7457.93% 1,454.54 2010 10,563,180 731,511 - 11,294,691 0.65% 6654.98% 1,297.94 "1 2011 8,736,093 462,674 - 9,198,767 0.58% 5420.03% 1,166.91 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 115 for personal income and population data. dift d" .r 1 E 4� VILLAGE OF OAK BROOK, ILLINOIS '— SCHEDULE OF DIRECT AND OVERLAPPING BONDED DEBT December 31, 2011 (2) *Percentage (1) of Debt (3) Gross Applicable to **Government's Governmental Unit Bonded Debt Government Share of Debt Village of Oak Brook $ - 100.00% $ - �- DuPage County 225,515,000 23.12% 52,139,068 DuPage Forest Preserve 199,537,210 20.45% 40,805,359 A DuPage Water Commission 0 0.00% - Park Districts 1,440,000 0.15% 2,160 Elementary School Districts 89,492,832 9.17% 8,206,493 High School Districts 179,137,924 18.36% 32,889,723 Junior College 502 203,615,000 20.87% 42,494,451 Unit District 205 76,863,936 7.88% 6,056,878 TOTAL $ 975,601,902 $ 182,594,132 * 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 - 113 - VILLAGE OF OAK BROOK,ILLINOIS LEGAL DEBT MARGIN INFORMATION If Last Ten Fiscal Years Fiscal Year 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Legal debt limit $ 101,902,766 $ 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 Total net debt applicable to limit 5,100,000 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 Legal debt margin 96,802,766 106,820,582 110,062,334 118,923,821 124,196,578 132,921,063 142,831,763 151,732,970 147,958,021 136,256,087 Total net debt applicable to the limit as a percentage of debt limit 5.00% 4.27% 3.84% 3.27% 2.83% 2.35% 1.89% 1.56% 1.37% 1.24% Legal Debt Margin Calculation for Fiscal 2011 Assessed Value $ 1,599,606,810 Legal debt margin 8.625% Debt limit 137,966,087 Debt applicable to limit General obligation bonds 1,710,000 Legal debt margin $ 136,256,087 J 1 i I I 1 I 1 I 1 1 1 1 I i i 1 I 1 L. VILLAGE OF OAK BROOK,ILLINOIS DEMOGRAPHIC AND ECONOMIC INFORMATION Last Ten Fiscal Years Per Capita Total DuPage County .� Fiscal Personal Personal Unemployment Year Population Income Income Rate 2002 8,702 (E) $ 169,718 $ 1,476,886,036 5.4% 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% 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% 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% (A)Actual (E)Estimate Note: Latest information available Data Source U.S.Bureau of Labor Statistics 1 r S Jnr I L i i ♦.r 6. - 115 - i i VILLAGE OF OAK BROOK, ILLINOIS PRINCIPAL EMPLOYERS Current Year and Five Years Ago 2011 2006 Percentage of Total Percentage of Employer Rank Employees Village Population Rank Employees Village Population Oak Brook Center Mall 1 3,150 40.0% 1 3,500 40.2% McDonald's Corporation 2 3,000 38.1% 2 2,800 32.2% Advocate Healthcare 3 1,075 13.6% 4 580 6.7% Inland Real Estate Group of Companies 4 846 10.7% Ace Hardware Corporation 5 796 10.1% 3 1,000 11.5% ADT Security Services, Inc. 6 725 9.2% Newell Rubbermaid 7 323 4.1% Follet Higher Education Group 8 320 4.1% Lions Club International 9 300 3.8% Reed Elsevier 10 230 2.9% Safeway, Inc. 5 400 4.6% Data Source Reference USA; Selective Telephone Survey Information prior to 2006 was unavailable. - 116 - -j 116 -_1 VILLAGE OF OAK BROOK, ILLINOIS �- RETAIL SALES VOLUME-TOP 25 ILLINOIS COMMUNITIES State Collection Period January 1, 2011 Through December 31, 2011 '. (1) Estimated Sales 2010 Municipality Rank Sales Per Capita Population Chicago 1 $ 22,830,787,100 $ 8,470 2,695,598 Schaumburg 2 2,811,343,000 37,875 74,227 Naperville 3 2,735,534,000 19,284 141,853 Springfield 4 2,570,950,800 22,116 116,250 Rockford 5 2,179,317,000 14,256 152,871 Peoria 6 2,149,639,400 18,691 115,007 Kankakee 7 2,054,817,400 74,620 27,537 Aurora 8 1,977,416,200 9,992 197,899 Joliet 9 1,846,526,500 12,525 147,433 Orland Park 10 1,747,357,600 30,781 56,767 Champaign 11 1,498,925,600 18,493 81,055 Sycamore 12 1,397,155,800 79,751 17,519 Niles 13 1,379,450,800 46,286 29,803 Bloomington 14 1,275,400,400 16,648 76,610 Glenview 15 1,271,147,400 28,442 44,692 Skokie 16 1,235,004,800 19,063 64,784 Vernon Hills 17 1,171,370,600 46,644 25,113 Decatur 18 1,140,157,700 14,978 76,122 Gurnee 19 1,136,135,400 36,304 31,295 Downers Grove 20 1,116,395,400 23,339 47,833 Tinley Park 21 1,112,037,100 19,612 56,703 Oak Brook 22 1,099,872,700 139,525 7,883 Lombard 23 1,067,293,100 24,726 43,165 Crystal Lake 24 1,012,152,200 24,842 40,743 Arlington Heights 25 1,011,209,900 13,465 75,101 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, 2011 through January 31, 2012. - 117 - VILLAGE OF OAK BROOK,ILLINOIS SALES TAX RECEIPTS-CASH BASIS Last Ten Fiscal Years 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 - 2002 $ 9,570,001 -0.4% $ - - $ 9,570,001 -0.4% 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% 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% Data Source Village Records Note: The Village's non-home rule sales tax was effective beginning July 1,2004. 1 i i d i 1 i 1 i VILLAGE OF OAK BROOK,ILLINOIS STATE SALES TAX RECEIPTS BY MONTH-CASH BASIS Last Three Fiscal Years Percentage Change Fiscal Year Fiscal Year Fiscal Year From Preceding Year Month Ended 12/31/09 Ended 12/31/10 Ended 12/31/11 FY 2009 FY 2010 FY 2011 January $ 768,433 $ 819,895 $ 895,308 -13.9% 6.7% 9.2% February 1,074,630 876,670 956,493 9.7% -18.4% 9.1% March 1,320,915 1,371,070 1,477,682 -15.6% 3.8% 7.8% April 729,721 645,058 666,930 1.6% -11.6% 3.4% May 626,143 640,940 695,977 -9.9% 2.4% 8.6% June 755,489 838,005 871,520 -0.8% 10.9% 4.0% July 707,991 799,994 877,924 -26.7% 13.0% 9.7% 6. August 771,849 858,726 933,061 -12.0% 11.3% 8.7% September 810,220 841,099 926,998 -9.0% 3.8% 10.2% October 818,439 930,821 900,670 -6.5% 13.7% -3.2% November 842,402 951,035 938,459 -15.2% 12.9% -1.3% December 797,845 884,062 907,541 -6.3% 10.8% 2.7% TOTAL $ 10,024,077 $ 10,457,375 $ 11,048,563 -9.4% 4.3% 5.7% Data Source 6w Village Records w.. i i 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 12/31/09 Ended 12/31/10 Ended 12/31/11 FY 2009 FY 2010 FY 2011 .. January $ 353,215 $ 374,350 $ 400,224 76.6% 6.0% 6.9% February 399,363 400,954 445,276 69.7% 0.4% 11.1% March 618,299 639,925 672,765 67.2% 3.5% 5.1% April 325,062 284,621 286,122 1.2% -12.4% 0.5% May 280,205 284,830 305,329 -10.8% 1.7% 7.2% June 341,693 382,620 390,791 -7.9% 12.0% 2.1% July 318,052 363,571 396,236 -24.8% 14.3% 9.0% August 349,890 380,669 418,978 -13.2% 8.8% 10.1% September 365,985 391,573 417,209 -13.1% 7.0% 6.5% October 377,370 402,645 409,666 -5.6% 6.7% 1.7% 9 November 356,653 402,127 389,815 -15.7% 12.8% -3.1% December 361,999 395,269 407,153 -7.4% 9.2% 3.0% Y TOTAL $ 4,447,786 $ 4,703,154 $ 4,939,564 4.1% 5.7% 5.0% I Data Source Village Records •� Note: The Village's non-home rule sales tax was effective July 1,2004 with collections beginning in October 2004. i i i i i i 4 i I I ." - 120 - •. VILLAGE OF OAK BROOK,ILLINOIS SALES TAX BY CATEGORY Last Ten Fiscal Years Fiscal Years 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 General merchandise $ 2,727,372 $ 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 Food 50,868 51,362 40,239 41,125 46,714 56,332 54,585 68,576 49,666 45,910 Drinking and eating places 956,286 968,701 1,075,685 1,105,997 1,181,813 1,266,893 1,248,272 1,270,903 1,388,881 1,428,598 Apparel 2,551,474 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 Furniture,H.H.and radio 577,992 824,925 917,782 945,017 961,241 1,080,877 1,076,836 840,999 957,980 975,472 Lumber,building and hardware 91,162 120,341 113,660 105,873 104,720 85,382 39,312 32,472 17,588 12,853 Automotive and filling stations 947,990 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 Drugs and other retail 1,445,340 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 Agriculture and all others 423,268 300,850 304,287 397,129 451,957 491,738 507,663 414,462 354,622 422,368 Manufacturers 96,147 50,297 75,179 77,311 68,531 72,399 72,003 100,642 83,952 126,281 TOTAL $ 9,867,899 $ 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 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. VILLAGE OF OAK BROOK,ILLINOIS NON-HOME RULE SALES TAX BY CATEGORY Last Ten Fiscal Years Fiscal Years 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 General merchandise $ $ - $ 382,923 $ 556,016 $ 743,530 $ 590,403 $ 1,024,873 $ 926,187 $ 973,309 $ 1,006,608 Food - 2,007 4,444 5,150 8,577 19,275 20,652 19,332 20,436 Drinking and eating places - 142,641 275,357 294,331 315,085 615,357 632,360 692,224 710,688 Apparel - - 373,434 702,672 762,294 768,375 1,433,462 1,353,324 1,492,720 1,516,414 Furniture,H.H.and radio - 126,581 231,825 240,036 269,738 534,252 419,064 478,065 486,841 Lumber,building and hardware - 14,797 26,448 26,171 21,290 19,735 16,233 8,807 6,427 Automotive and filling stations - 96,769 183,613 204,893 207,328 410,617 419,622 438,722 4135502 I Drugs and other retail - 147,168 260,634 278,768 275,639 501,254 455,080 496,243 522,092 Agriculture and all others - 36,238 83,805 108,407 108,766 224,370 191,955 160,284 190,247 Manufacturers - 10,196 19,327 17,079 18,064 35,964 50,271 41,947 63,114 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 Village non-home rule sales tax rate 0.25% 0.25% 0.25% 0.25% 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. - 122 - _ i jJ (This page is intentionally left blank.) VILLAGE OF OAK BROOK,ILLINOIS BUDGETED FULL-TIME EQUIVALENT EMPLOYEES Last Ten Fiscal Years Function/Program 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 GENERAL GOVERNMENT Board of Trustees 0.50 0.50 0.50 0.50 1.00 1.00 0.50 0.50 0.50 0.75 Village Clerk 2.50 2.50 2.50 2.75 2.75 3.25 3.25 3.25 1.50 1.75 Legal 1.00 1.00 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 General Management 3.25 3.25 3.50 3.50 3.25 3.25 2.50 2.50 2.25 3.00 Human Resources 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.50 1.75 1.50 Risk Management 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 General Services 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 2.00 1.75 Business Licenses - - - - 0.25 0.25 0.00 0.00 0.00 0.00 Purchasing 1.50 1.50 1.50 1.50 1.50 1.50 1.50 0.00 0.50 0.50 Information Services 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.00 2.25 2.00 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 5.00 4.50 4.50 4.50 4.50 4.50 4.50 5.00 3.00 2.75 PUBLIC WORKS Buildings and Grounds 2.00 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 6.00 7.00 7.00 7.50 7.50 7.50 7.50 7.50 6.50 6.00 Public Works Management 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 2.50 2.50 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 4.00 3.50 3.25 LIBRARY Library General Operations 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 4.00 4.50 Technical Services 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 3.00 2.75 Reference and User Services 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 1.75 2.25 Youth Services 2.75 2.75 2.75 2.75 2.75 2.75 2.75 2.75 1.50 2.00 POLICE Police Services Management 4.00 4.00 4.00 3.00 3.00 3.00 3.00 3.00 3.00 2.00 Police Field Services 36.00 33.00 35.00 37.00 35.00 35.00 36.25 35.25 31.50 31.50 Police General Support 2.00 2.00 2.00 2.00 2.50 3.00 3.50 3.50 3.00 3.00 Police Investigations 8.00 8.00 6.00 6.00 6.00 7.00 7.00 6.00 8.00 8.00 Village Communications Center 10.00 10.00 10.00 10.00 11.00 12.00 12.50 12.00 9.00 7.00 Police Records 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 2.50 2.50 Police Public Relations/Crime Prevention 2.00 2.00 2.00 1.00 2.00 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 0.00 0.50 - 123 - VILLAGE OF OAK BROOK,ILLINOIS BUDGETED FULL-TIME EQUIVALENT EMPLOYEES(Continued) Last Ten Fiscal Years Function/Program 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 FIRE*** Fire and EMS-General Salaries** 33.00 33.00 33.00 33.00 33.00 33.00 33.00 33.00 31.00 31.00 Rescue and Fire Service Management 3.00 3.00 3.00 3.00 3.00 3.00 3.00 2.50 1.50 1.50 Fire Prevention and Public Safety Education 2.00 2.00 2.00 2.00 2.00 2.00 2.00 0.00 0.00 0.00 SPORTS CORE Sports Core General Operations 3.25 3.25 3.25 2.75 2.75 2.75 2.75 2.25 1.75 1.50 Sports Core Food and Beverage Operations 2.00 2.00 2.00 1.50 2.00 2.50 2.50 2.75 0.00 0.50 Golf Club Food and Beverage Operations - - - - - - - 0.25 0.50 0.50 Golf Club General Operations 3.25 3.25 3.25 3.25 3.25 3.25 3.25 3.25 2.75 2.25 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 3.00 4.00 4.00 3.50 3.50 3.50 TOTAL 180.25 176.75 176.25 176.00 177.50 180.00 180.75 174.25 152.25 150.25 *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 - 124 - VILLAGE OF OAK BROOK,ILLINOIS OPERATING INDICATORS Last Ten Fiscal Years Function/Program 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 PUBLIC SAFETY Police 'i Physical arrests 356 313 364 357 330 319 293 399 357 267 i Parking violations 1,908 2,376 1,345 1,112 579 1,472 1,420 1,113 877 1,245 Traffic violations 5,354 5,235 4,649 4,180 3,984 4,240 3,371 3,464 5,370 3,374 Fire EMS incidents 1,022 1,049 1,016 1,059 1,138 1,093 1,037 1,069 1,188 1,037 Fire incidents 743 747 1,075 949 716 823 752 802 918 788 Communications Center Police calls dispatched 9,507 9,597 10,142 11,766 10,864 10,880 10,667 9,911 9,666 9,666 Fire/EMS calls dispatched 1,765 2,224 2,091 2,148 2,013 2,250 2,214 2,176 2,240 2,240 WATER New water meters installed 46 39 38 47 31 31 21 10 10 11 Water main breaks repaired 70 78 71 110 63 109 58 63 59 50 Water pumped(mil.gals.) 1,608 1,513 1,375 1,530 1,261 1,336 1,210 1,105 1,136 1,060 LIBRARY Total circulation 73,725 92,066 96,024 98,754 96,414 99,009 96,631 90,287 87,906 84,768 Avg.daily circulation 236.3 270.8 280.8 289.6 286.1 292.1 282.5 267.9 260.5 253.0 Total holdings 61,108 83,115 89,292 96,721 103,951 106,181 105,493 111,051 116,386 124,757 COMMUNITY DEVELOPMENT Building permits issues 819 757 891 903 947 856 742 606 696 705 Inspections n/a n/a n/a 1,129 2,268 1,754 1,772 2,090 2,193 2,139 Estimated construction value $40,587,413 $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 SPORTS CORE B&T recreation membership 245 344 343 311 302 291 303 259 300 320 Social memberships 148 88 189 122 106 120 129 80 64 59 Total events 313 306 252 215 224 226 202 123 39 35 Golf memberships 283 267 263 260 262 235 226 219 207 182 Total golf rounds 44,134 45,637 44,422 44,005 42,324 43,561 40,336 39,686 37,750 35,196 Data Source Various village departments n/a-Information was unavailable for this given period. - 125 - I 25 -1 ! _ ) 1 1 I J VILLAGE OF OAK BROOK,ILLINOIS CAPITAL ASSETS STATISTICS Last Ten Fiscal Years Function/Program 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 PUBLIC SAFETY Police Stations 1 I 1 1 1 1 1 1 1 1 Area patrols 5 5 5 5 5 5 5 5 4 5 Patrol units 15 15 15 15 15 15 15 15 12 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) 55 48 48 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) 115 115 115 115 115 115 105 105 105 105 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 - 126 -