2017 Citizen PAFRVillage of Oak Brook, Illinois
Popular Annual Financial Report
For the Year Ended December 31, 2017
Table of Contents
About Village of
Oak Brook 1
Village of Oak Brook
Leadership 2
Village Initiatives
and Goals 3
Village Fund Structure 4
Explanation, Analysis,
and Discussion of
Financial Statements 5-12
Village Sales Tax 13
Key Statistics 14
A Message From the Village President
Dear Citizens of Oak Brook,
We are pleased to present the Popular Annual Financial Report (PAFR) for the fiscal
year ended December 31, 2017. The PAFR is a high level report for citizens who wish
to gain a general understanding and summary of the Village’s financial activities and
position. Information contained in this report is a summarized version of the Village’s
official financial statements, the Comprehensive Annual Financial Report (CAFR).
The PAFR presents financial data on the same basis of accounting as the CAFR, just in
a simplified manner.
The Village’s fiscal year 2017 annual audit was completed on May 2, 2018 by Baker
Tilly Virchow Krause, LLP. The CAFR is compliant with generally accepted
accounting principles (GAAP) and has received an unmodified (“clean”) opinion from
our auditors. The full disclosure financial statement, CAFR, be found on the Village’s
website www.oak-brook.org/304/Financial-Documents.
The Village of Oak Brook has received all three of the Government Finance Officer’s
Association (GFOA) awards for local government finance:
Distinguished Budget Presentation Award (6 consecutive years)
Certificate of Achievement for Excellence in Financial Reporting (40 consecutive
years)
Award for Outstanding Achievement in Citizen’s (Popular) Financial Reporting
(4 consecutive years)
Our commitment to the GFOA award programs help ensure financial information is
presented in a way that is consistent with the highest standards in governmental
financial reporting.
In addition, the Village maintains a digital platform powered by OpenGov that
provides unprecedented access to the Village’s finances. Financial information is
updated on a monthly basis and dates back to 2008. OpenGov is a fully interactive
platform that allows users to sort and filter financial data as they choose. Please visit
http://www.oak-brook.org/362/Open-Government for more information.
The Village Board and I appreciate your input and continued commitment in making
Oak Brook a great community to live and work. If you have any questions concerning
this report or would like to offer any ideas or suggestions for improvement, please
contact Jason Paprocki, Finance Director, at (630) 368-5070 or email at
jpaprocki@oak-brook.org.
Sincerely,
Gopal Lalmalani
Village President
Popular Annual Financial Report
Village of Oak Brook, Illinois
Fiscal Year 2017
Important Numbers
and Addresses
Village Hall
630/368-5000
1200 Oak Brook Road
Oak Brook, IL 60523
Fire HQ
(Non-Emergency)
630/368-5200
Police HQ
(Non-Emergency)
630/368-8700
Public Works
630/368-5270
For Police or Fire
Emergencies
Dial 911
The Village of Oak Brook has been, and continues to be, one of the preeminent business centers in the
Chicago metropolitan area. Several large corporations are headquartered in the Village, including Hub
Group, Ace Hardware, and TreeHouse Foods. 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, have enabled the Village to operate without
a real estate tax due to the sales tax revenue generated from retail business activities.
Oak Brook has more than 7,800 residents across approximately 2,850 households.
The Village provides many key services, including police and fire protection, water delivery, street
maintenance, public improvements, public library, and recreation.
The Village is composed of residential subdivisions, the Oakbrook Center Mall, office and retail locations,
restaurants, and numerous corporate headquarters.
Principal employers in Oak Brook include Oakbrook Center Mall, McDonald’s Corporation, Advocate
Healthcare, Ace Hardware, Hub Group, and Inland Real Estate Group of Companies.
The Village of Oak Brook features 269 acres of open space, polo fields, golf courses, soccer fields,
swimming and tennis facilities, and other recreational opportunities not commonly found in a village of
this size.
Only 15 miles west of downtown Chicago, Oak Brook is conveniently located along Interstates 88 and 294.
Oak Brook feeds into five outstanding elementary school districts: Butler District 53; Downers Grove
District 58; Elmhurst District 205; Hinsdale District 181; and Salt Creek District 48.
One aspect of life in Oak Brook that we are proud of is the wide range of entertainment and recreational
opportunities available in our community. Whether you’re participating in a Bath and Tennis Club activity,
playing a round at Oak Brook Golf Club, watching a play at the Mayslake Peabody Estate, attending a Polo
match, or jogging down the Oak Brook Pathway System, there is something for everyone to enjoy.
Village of Oak Brook
2017 Quick Facts
Population 7,883
Per Capita Income $131,719
Median Home Value $696,000
Unemployment Rate 3.9%
Credit Rating* Aa1
Total Cash and
Investments $39.9 million
General Fund Cash
and Investments $17.5 million
General Fund
Reserve (cash to 2018
budgeted operating
expenditures) 9.5 months
Outstanding Debt** $3.3 million
Other Long-Term
Liabilities*** $49.7 million
2017 Annual Budget $51.4 million
Employees (FTE’s) 128.5 FT, 24.8 PT,
32.3 Seasonal
About the Village of Oak Brook 1
* Rating based on Moody’s 2017 Annual Issuers Comment Report. Aa1 rating indicates the Village has very strong capacity to m eet its finan-
cial commitments. This would result in favorable interest rates should the Village issue debt obligations.
**Outstanding debt of $3.3 million is a note payable to the 2005 Tax Increment Financing (TIF) District located at the Promenad e (22nd St.
and Meyers Rd.). The TIF note is not a general obligation to the Village and it expires in 2024. Repayment of the note is l imited to the avail-
ability of pledged taxes and 20% of incremental sales tax.
***Other long-term liabilities consist of net pension liability, net other postemployment benefit obligations, and compensated absences.
The Village of Oak Brook operates under the Village form of government and is governed by our elected
Village President and a six-member Board of Trustees—each elected at large for a four-year term of office.
The Village Clerk is elected for a four-year term, attends meetings of the Village Board, keeps its minutes,
and is the official custodian of Village records. Elections are held biennially, during odd -numbered years, on
the first Tuesday in April.
The Village Board’s primary function is policy making. The Village President, with the consent of the
Board, appoints a Village Manager to administer daily administrative operations of the Village. The Village
President presides over meetings of the Board, and selects and removes appointed officers of various boards,
commissions and committees with the consent of the Board.
3
Village of Oak Brook Leadership 2
Village of Oak Brook Organizational Chart
From left to right: Trustee Asif Yusuf, Trustee Moin Saiyed, Trustee Philip Cuevas, Village Clerk Charlotte Pruss,
Village Attorney Greg Jones, President Gopal Lalmalani, Village Manager Riccardo Ginex, Trustee John Baar, Trustee
Michael Manzo, Trustee Edward Tiesenga.
Management Team
Village Manager
Riccardo Ginex
Police Chief Public Works
James Kruger Doug Patchin
Fire Chief Library
Barry Liss Jacob Post
Information Technology Golf Course
James Fox Sean Creed
Development Services Finance
Tony Budzikowski Jason Paprocki
Village Initiatives and Goals 3
Every two years, the Village works on updating its Strategic Plan. The current 2016 -2017 Strategic Plan
was developed in May 2015 through planning sessions with Village department heads and the Village Board.
The Village developed six key goals during these sessions:
1. Promote
Economic
Development
2. Financial
Stability
3. Provide Safe,
Efficient, Well
Maintained
Infrastructure
4. Promote and
Enhance Oak
Brook's Image
5. Maintain and
Enhance Village
Services to
Residents,
Businesses, and
Visitions
6. Human
Resources
Management
The Village had many accomplishments related goals of the Strategic Plan during fiscal year 2017. Some of
these include:
Outsourcing the Village Engineering function to increase efficiency and reduce costs.
Implementation of the Village website mobile application.
Removal of 129 Emerald Ash Borer (EAB) mortalities, and replanted 135 multi species of trees
within the Village right of way.
Joined the System Wide Automated Network (SWAN) library consortium to allow easier access
to a full range of material for library patrons.
Approved the Police Department expansion and renovation project to increase arrestee, officer,
employee, and public safety.
Purchased a new fire rescue squad and special operations vehicle to help improve response time
and public safety.
Completed the 22nd Street (Salt Creek to I-294) median and street lighting beautification project.
Began the Village-wide water meter replacement project.
Completed the Bath and Tennis Clubhouse remodel project.
Like other local governments, the Village of Oak Brook utilizes fund accounting. Fund accounting
segregates related accounts and activities into separate funds to ensure and demonstrate compliance with
legal and regulatory requirements. Village funds can be classified in three categories: governmental funds,
business-type funds, and fiduciary funds.
Governmental funds are used to account for all or most of the Village’s general activities, including general
administration, public safety, highways and streets, library, and community development. Governmental
funds are categorized as: the General Fund, special revenue funds, and capital projects funds. The General
Fund is used to account for and report all financial resources not accounted for and reported in another fund.
Special revenue funds are used to account for and report specific revenue sources that are restricted or
committed for specified purposes other than capital or debt. Capital projects funds are used to account for
and report resources that are restricted, committed, or assigned for capital outlay.
Business-type 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 these activities can be provided to either outside parties (enterprise funds) or to other departments or
agencies primarily within the government (internal service funds) with costs being recovered through user -
fees and charges.
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 Police and Fire Pension funds are governed by
separate five member pension boards, consisting of two members appointed by the Village Board, one elected
by retired pension members, and two elected by active pension members. The Village and active pension
members are obligated to fund all pension costs based upon actuarial valuations, which are approved by the
Village Board. Financial activity of fiduciary funds are not included in governmental or business -type
activities.
Village Fund Structure 4
Governmental Funds
General Fund
Special Revenue Funds
•Hotel/Motel Tax
•Motor Fuel Tax
•Foreign Fire Insurance
Tax
Capital Projects Funds
•Infrastructure
•Promenade TIF
Business-Type Funds
Enterprise Funds
•Waterworks System
•Sports Core
•Golf Surcharge
Internal Service Funds
•Self-Insurance
•Garage
•Capital Replacement
Fiduciary Funds
Trust Funds
•Police Pension
•Fire Pension
The Statement of Net Position (commonly known as the “balance sheet”) reports information on all of the
Village’s assets, liabilities, and deferred inflows and outflows, with the difference reported as its “net
position.” Net position measures the resources (cash, investments, receivables, capital assets, etc.) of the
Village and any claims (payables, deposits, debt, etc.) against those resources. Over time, increases or
decreases in net position may serve as a useful indicator of whether the financial position of the
Village is improving or deteriorating. The table below shows that, as of December 31, 2017, the Village’s
total net position was $86.0 million, which is an increase of $4.8 million from 2016.
The largest portion of the Village’s net position, $91.7 million, reflects its investment in capital assets, less
any outstanding debt used to acquire those assets. The Village uses these capital assets to provide services
to its residents. Consequently, these assets are not available for future spending. An additional portion of
the net position, approximately $14.8 million, is subject to external restrictions on how it may be used.
The unrestricted portion of net position represents a $20.5 million deficit. The deficit balance is primarily
due to the unfunded pension liabilities related to the IMRF (Illinois Municipal Retirement Fund), Police, and
Fire pension plans. The deficit unrestricted net position will improve as the pension plans become better
funded in future years.
Explanation, Analysis, and Discussion of Financial Statements 5
Governmental Business-Type Total Primary
Activities Activities Government Total
2017 2016 2017 2016 2017 2016 Change
Cash and Investments $33.2 $30.1 $6.7 $3.4 $39.9 $33.5 $6.4
Current and Other Assets 7.6 8.3 1.9 1.9 9.5 10.2 (0.7)
Capital Assets 61.8 60.7 29.9 30.6 91.7 91.3 0.4
Total Assets $102.6 $99.1 $38.5 $35.9 $141.1 $135.0 $6.1
Deferred Outflows of Resources $6.8 $7.2 $0.7 $0.9 $7.5 $8.1 ($0.6)
Long-Term Liabilities $51.3 $54.2 $1.7 $1.5 $53.0 $55.7 ($2.7)
Other Liabilities 2.9 3.2 1.0 0.7 3.9 3.9 -
Total Liabilities $54.2 $57.4 $2.7 $2.2 $56.9 $59.6 ($2.7)
Deferred Inflows of Resources $5.7 $2.1 - $0.2 $5.7 $2.3 $3.4
Net Investment in
Capital Assets $61.8 $60.5 $29.9 $30.5 $91.7 $91.0 $0.7
Restricted 14.8 12.4 - - 14.8 12.4 2.4
Unrestricted (27.1) (26.1) 6.6 3.9 (20.5) (22.2) 1.7
Total Net Position $49.5 $46.8 $36.5 $34.4 $86.0 $81.2 $4.8
Statement of Net Position
(In millions)
The foundation of the Village’s financial planning is centered on the Village’s policy of maintaining a General
Fund cash and investments reserve that meets or exceeds six months of annual operating expenses. The six
month policy level was established due to the Village not having the predictability of real estate tax revenue
and the fact that most of its general revenues are collected by the State (sales and telecommunications tax)
having a two to three month delay. This conservative policy seeks to ensure 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.
As of December 31, 2017, the Village had $39.9 million in cash and investments on hand, an increase of $6.4
million from December 31, 2016. The General Corporate Fund cash and investments balance of $17.5
million is equal to 9.5 months of 2018 budgeted operating expenses. Cash and investments by fund is:
Explanation, Analysis, and Discussion of Financial Statements 6
The Village’s overall cash and investment balance is made up of various sources. As of December 31, 2017,
the Village’s cash and investment portfolio consisted of:
Summary on Village Cash and Investments
Checking, $1.3
Illinois Funds,
$17.2
Certificates of
Deposit , $6.9
Municipal Bonds,
$9.3
Corporate Bonds,
$4.3
Government &
Agency
Obligations, $0.9
in millions
General
Corporate, $17.5
Hotel/Motel Tax ,
$4.1Motor Fuel Tax,
$0.6
Promenade TIF,
$0.3
Water, $5.7
Foreign Fire
Insurance, $0.2
Self -Insurance,
$0.0
Sports Core, $0.5
Golf Surcharge,
$0.6
Equipment
Replacement, $1.8
Infrastructure,
$8.2 Garage, $0.4
in millions
Explanation, Analysis, and Discussion of Financial Statements 7
The Village contributes to three defined benefit pension plans, the Illinois Municipal Retirement Fund
(IMRF), an agent multiple-employer public employee retirement system; the Police Pension Plan, which is a
single-employer pension plan; and the Firefighter’s Pension Plan, which is also a single-employer pension
plan. The benefits, benefit levels, employee contributions, and employer contributions for all three plans are
governed by Illinois Compiled Statutes and can only be amended by the Illinois General Assembly. For
further information on these pension plans, refer to the Village’s 2017 CAFR.
Related to these pension plans, the Village reports, under long -term liabilities on the Statement of Net
Position, an unfunded pension liability of $46.0 million for governmental activities and $1.4 million for
business-type activities, for a total of $47.4 million as of December 31, 2017.
Actual cash contributions to the pension funds for 2017 totaled $4.5 million. This consisted of: $0.6 million
for the IMRF pension plan, $1.8 million for the Police pension plan, and $2.1 million for the Fire pension
plan. Current State statutes require the Village’s contributions must accumulate to the point where the past
service cost for the Police and Fire pension plans is 90% funded by the year 2040.
The Village’s total net pension liability at 12/31/17 is:
IMRF Police Pension Fire Pension Total
Total Pension Liability $38,512,784 $58,193,184 $50,181,210 $146,887,178
Plan Fiduciary Net Position 33,616,356 37,779,816 28,093,489 99,489,661
Unfunded Pension Liability $4,896,428 $20,413,368 $22,087,721 $47,397,517
Plan Funded Rate 87.3% 64.9% 56.0% 67.7%
Combined annual Public Safety (Police and Fire) recommended pension contributions are expected to
increase from $4.0 million in 2018 to $5.5 million in 2040 assuming a 100% funding target. Increasing
pension costs could have an impact on future services provided by the Village. The unfunded pension
liability is expected to range from $43.7 million in 2018 to $4.8 million in 2040 assuming 100% funding, with
a peak of $44.0 million forecasted in 2019. Actual contributions and unfunded liability for these years could
vary depending on key actuarial assumptions, including salary increases, mortality tables, investment
returns, and Village funding levels.
Summary on Village Pension Plans
$3
$4
$5
$6
MILLIONSProjected Public Safety Pension Contributions
The Statement of Activities (commonly known as the “income statement”) reports all financial activity for
the fiscal year ended December 31, 2017.
This statement presents high-level summary information about how the Village’s net position changed
during the fiscal year. Overall, the Village’s total net position has increased $4.8 million, or 5.9%, during
fiscal year 2017. Governmental activities net position increased $2.7 million, or 5.8%, from 2016 and
business-type activities net position increased $2.1 million, or 6.1%, from 2016.
Total revenues increased $0.9 million, or 2.0%, compared to prior year. The Village experienced increases in
all major revenue sources except grants and contributions, sales and local use taxes, and miscellaneous
revenue. Sales and local use taxes continue to be the Village’s largest revenue source and reflected a decrease
of $1.0 million, or 5.2%, compared to the prior year.
Total expenses decreased $(1.0) million, or (2.4)%, compared to the prior year. This was primarily due to
decreases in capital spending related street repaving projects.
Explanation, Analysis, and Discussion of Financial Statements 8
Governmental Business-Type Total Primary
Activities Activities Government Total
2017 2016 2017 2016 2017 2016 Change
Revenues
Program Revenues
Charges for Services $3.9 $3.5 $13.4 $12.2 $17.3 $15.7 $1.6
Grants and Contributions 0.2 0.3 - - 0.2 0.3 (0.1)
General Revenues
Sales and Local Use Taxes 18.3 19.3 - - 18.3 19.3 (1.0)
Utility Taxes 6.0 6.0 - - 6.0 6.0 -
Other Taxes 3.0 2.7 - - 3.0 2.7 0.3
Investment Income 0.3 0.2 0.1 - 0.4 0.2 0.2
Miscellaneous - 0.1 - - - 0.1 (0.1)
Total Revenues $31.7 $32.1 $13.5 $12.2 $45.2 $44.3 $0.9
Expenses
General Government $5.7 $4.7 $- $- $5.7 $4.7 $1.0
Public Safety 17.4 17.2 - - 17.4 17.2 0.2
Public Works 3.8 6.4 - - 3.8 6.4 (2.6)
Culture and Recreation 1.8 1.5 - - 1.8 1.5 0.3
Waterworks System - - 7.9 8.0 7.9 8.0 (0.1)
Sports Core - - 3.5 3.3 3.5 3.3 0.2
Interest and Fiscal Charges 0.3 0.3 - - 0.3 0.3 -
Total Expenses $29.0 $30.1 $11.4 $11.3 $40.4 $41.4 ($1.0)
Change in Net Position $2.7 $2.0 $2.1 $0.9 $4.8 $2.9 $1.9
Net Position, January 1 $46.8 $44.8 $34.4 $33.5 $81.2 $78.3
Net Position, December 31 $49.5 $46.8 $36.5 $34.4 $86.0 $81.2
Statement of Activities
(In millions)
Key financial highlights of fiscal year 2017 include:
Charges for services revenue increased $1.6 million, or 10.2%, from 2016 due increases in building
permit fees from new economic development and a water rate increase.
Sales and use tax revenue decreased $1.0 million, or 5.2%, from 2016 due to large non-routine
receipts received in 2016 and the implementation of the State’s 2% administration fee on
collecting revenues.
Other taxes revenue increased $0.3 million, or 11.1%, from 2016 due to increases in Promenade
TIF real estate taxes from higher property values and increases in personal property replacement
tax collections.
Investment income increased $0.2 million, or 100.0%, from 2016 due to rising interest rates and
more available cash on hand to invest. The weighted average yield of the Village’s long-term
investment portfolio increased from 1.39% in 2016 to 1.70% in 2017.
General government expenses increased $1.0 million, or 21.3%, from 2016. This is due to
increases in technology software and hardware purchases and Butler Government Center
engineering and capital improvement costs.
Public Safety expenses increased $0.2 million, or 1.2%, from 2016. The increase is due to
increases in personnel costs and annual pension contributions. Public safety expense increases
were offset by a reduction in the annual recognition of actuarially determined pension expense.
Public works expenses decreased $2.6 million, or 40.6%, from 2016. The decrease is due to
reduced roadway resurfacing projects compared to last year and the outsourcing of the Village
engineering function.
Culture and recreation expenses increased $0.3 million, or 20.0%, from 2016. The increase is due
to the completion of a median beautification project that was originally scheduled to be finished in
2016.
Sports Core expenses increased $0.2 million, or 6.1%, from 2016. The increase is due to the Bath
and Tennis Clubhouse renovation and upgrade project and general increases in contractual
services.
Explanation, Analysis, and Discussion of Financial Statements 9
Overview of Financial Position and Results of Activities
Explanation, Analysis, and Discussion of Financial Statements 10
2017 Actual % of Total
Sales Tax $18,266,814 40.3%
Sales tax covers all the various taxes imposed under the Retailers Occupation tax, the service Occupation tax,
and the Use Tax Act. Every business conducting revenue operations must pay sales tax to the State of Illinois.
The Village currently receives 1.50% of eligible sales.
Utility/Telecom Tax 6,033,358 13.4%
The Village taxes telecommunications, natural gas, and electricity. Electricity and gas are based on usage,
therefore, revenues will fluctuate with consumer usage and weather conditions. The Village receives 5% tax
from NICOR and a 10-tiered formula based on kilowatts used from Commonwealth Edison. Taxes are also
imposed on interstate or intrastate telecommunications originating or received in the Village by a person at a
rate of 6% of gross charges.
Hotel/Motel Tax 1,265,583 2.8%
Tax imposed upon the use and privilege of renting rooms in a hotel or motel within the Village. The Village
imposes a 3% tax, of which 1% is used to promote overnight stays and 2% for beautification in the hotel district.
Intergovernmental 1,023,105 2.3%
Amounts received from other governments for support of particular functions or for general financial support.
Includes State income tax and personal property replacement tax.
Charges for Services 17,289,670 38.3%
Charges imposed for providing services. Total charges for services is comprised of: Water $9,872,001, Sports
Core $3,412,723, Golf Surcharge $119,400, and Governmental (licenses, permits, fees) $3,885,546.
Grants 214,977 0.5%
Funds received from federal and state agencies to assist the Village in offsetting expenditures related to various
programs.
All Other Revenue Sources 1,081,863 2.4%
Consists of property tax, other tax, gain on disposal of capital assets, investment income, and other revenue.
$45,175,370 100.0%
Revenue Overview
$-
$10
$20
$30
$40
$50
2013 2014 2015 2016 2017MILLIONS
Explanation, Analysis, and Discussion of Financial Statements 11
2017 Actual % of Total
General Government $5,813,299 14.4%
Includes various administrative services of the Village (Legislative and General Management, Human Re-
sources, Finance, Information Systems, and Community Development).
Public Safety 17,435,012 43.2%
Includes expenses associated with providing police and fire protection services to the
Village.
Public Works 3,751,818 9.3%
Includes Public Works administration, buildings and grounds, forestry, snow removal, and streets services.
Culture and Recreation 1,659,568 4.1%
Includes Library services and Hotel/Motel expenses to increase overnight stays in hotels within the Village.
Waterworks System 7,897,092 19.6%
Includes the costs associated with providing water services to the Village.
Sports Core 3,527,990 8.7%
Includes all Sports Core operations (Bath & Tennis Club, Polo, Taste of Oak Brook, Golf Club).
Interest 280,458 0.7%
Includes interest costs on all Village debt.
$40,365,237 100.0%
Note - The increase in total expenses in 2015 relates to the recording of $10.4 million in pension expense related to the
implementation of GASB Statements No. 68 and 71. Fiscal year 2015 was the first year the expense was recorded on the Village ’s
financial statements.
Expense Overview
$-
$10
$20
$30
$40
$50
$60
2013 2014 2015 2016 2017MILLIONS
Explanation, Analysis, and Discussion of Financial Statements 12
General Fund
The General Fund accounts for the Village’s primary operating activities. Services funded by the General
Fund include police, fire, library, public works, economic development, and general administration. The
General Fund accounts for all financial resources except those accounted for in another fund.
Total revenues decreased $0.2 million, or 0.8%, from 2016. Although total revenues were less than the 2016
levels, 2017 total revenues were over budget by $0.3 million. The decrease in revenue is primarily due to
sales tax revenue coming in lower than last year. The Village received non -routine sales tax payments
related to a major taxpayer in 2016, but did not see receipts come in at this level in 2017. The decrease in
sales tax revenue was offset by increases in permit related revenues. The Village issued a number of large
building permits during 2017 due to increased economic development.
Total expenditures increased $1.6 million, or 7.8%, from 2016. Total expenditures were $1.0 million under
budget despite the increase from 2016. The increase in expenditures is due to increases in technology
software and hardware purchases, Butler Government Center engineering and capital improvement costs,
and additional contributions made to the Village’s public safety pension plans.
Fund balance increased $1.0 million in 2017 to a total of $21.1 million. Of this amount, nearly all ($20.0
million) is unassigned and can be used for any purpose. The General Fund has seen significant increases in
fund balances over the past few years, increasing from $16.1 million in 2014 to $21.1 million in 2017.
Original Final Variance with 2016
Budget Budget Actual Final Budget Actual
Revenues
Intergovernmental $14,325,335 $14,325,335 $13,640,557 ($684,778) $14,274,831
Utility Taxes 5,638,000 5,638,000 6,033,358 395,358 5,967,345
Licenses & Permits 1,711,750 1,711,750 2,205,571 493,821 1,882,598
Charges for Services 1,064,250 1,064,250 1,106,204 41,954 1,077,111
Other 697,865 697,865 741,020 43,155 716,075
Total Revenues $23,437,200 $23,437,200 $23,726,710 $289,510 $23,917,960
Expenditures
General Government $4,446,385 $5,008,843 $4,757,533 $251,310 $4,063,322
Public Safety 16,814,355 16,678,575 16,113,415 565,160 15,146,642
Public Works 752,340 752,340 708,940 43,400 642,689
Culture and Recreation 989,470 989,470 874,892 114,578 957,642
Debt Service 290,625 290,625 289,800 825 294,541
Total Expenditures $23,293,175 $23,719,853 $22,744,580 $975,273 $21,104,836
Other Financing Sources (Uses)
Transfers Out ($73,505) ($73,505) $- $73,505 $-
Total Other Financing Sources (Uses) ($73,505) ($73,505) $- $73,505 $-
Change in Fund Balance $70,520 ($356,158) $982,130 $1,338,288 $2,813,124
Fund Balance, January 1 $20,072,544 $17,259,420
Fund Balance, December 31 $21,054,674 $20,072,544
Village Sales Tax 13
Whereas real estate taxes are typically a major revenue source in most other municipalities, the Village of
Oak Brook does not impose a real estate tax levy. Instead, the Village primarily depends on sales tax
revenue to fund its operations. The sales tax rate in Oak Brook is 7.50%, of which the Village receives 1.50%.
Of this amount, 1.00% is the local sales tax portion that is recorded in the General Fund to fund general
operations and 0.50% is the non-home rule sales tax portion that is recorded in the Infrastructure Fund to
fund roadway improvements. Also, of the amounts collected in the Oak Brook Promenade shopping center,
20% of sales and non-home rule sales tax collections are to be transferred into the Promenade TIF Fund as
part of the redevelopment agreement.
The Village has a number of large retailers, including Costco, Macy’s, Nordstrom, and Apple. Many of the
Village’s retail stores and restaurants are located in Oakbrook Center shopping mall. Properties at
Oakbrook Center account for nearly 60% of the Village’s sales tax revenue each year.
Sales tax and non-home rule sales tax revenue over the last 10 years have been:
Sales and non-home rule sales tax collections in 2017 can be broken out by the following categories:
$0.0
$1.0
$2.0
$3.0
$4.0
MILLIONSSales and Non-Home Rule Sales Tax Collections
By Category
$3
$4
$5
$6
$7
$8
$9
$10
$11
$12
$13
$14
MILLIONSSales Tax Collections
Last 10 Years
1% Sales Tax 0.50% Non-Home Rule Sales Tax
Key Statistics 14
*Individual property tax rates may vary depending on school district boundaries.
2013 2014 2015 2016 2017
General
Debt per capita $636 $583 $534 $480 $422
DuPage County unemployment rate 6.4%4.6%4.6%4.4%3.9%
Property tax rate*3.5871 3.8389 3.9263 3.7945 3.5786
Estimated retail sales $1,110,317,900 $1,209,120,800 $1,235,726,800 $1,310,311,500 $1,240,438,500
Total sales tax receipts—cash basis $16,812,799 $17,341,263 $18,043,872 $19,019,578 $18,253,755
Police
Physical arrests 178 196 208 191 212
Parking violations 501 306 299 901 443
Traffic violations 2,897 2,986 2,082 1,465 1,495
Fire
EMS incidents 1,191 1,321 1,329 1,432 1,424
Fire incidents 667 742 600 630 672
Communications Center (DUCOMM)
Police calls dispatched 18,552 19,853 19,442 23,924 21,656
Fire/EMS calls dispatched 2,294 2,448 2,246 2,407 2,493
Library
Total circulation 93,300 90,485 91,205 112,423 112,268
Total holdings 131,658 131,973 102,441 97,201 94,353
Community Development
Building permits issued 811 837 850 841 943
Estimated construction value $131,935,998 $110,922,495 $174,948,935 $99,520,330 $176,470,285
Inspections 2,617 2,648 2,790 2,999 2,963
Sports Core
B&T recreation memberships 347 338 307 317 294
Social memberships 68 82 81 77 -
Total events 66 72 71 75 65
Golf memberships 146 143 142 145 151
Total golf rounds 34,670 33,861 34,019 39,324 39,863