TIF Annual Report 2016VILLAGE OF OAK BROOK
TAX INCREMENT FINANCING DISTRICT NO. 1
BUTTERFIELD/MEYERS ROAD
ANNUAL REPORT FOR FISCAL YEAR
BEGINNING JANUARY 1, 2016 AND ENDING DECEMBER 31, 2016
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2016 AND ENDING DECEMBER 31, 2016
SECTION
1.0
2.0
Attachment A
Attachment B
Attachment C
Attachment D
Attachment E
Attachment F
Attachment G
Attachment H
Attachment I
Attachment J
Village of Oak Brook
Tax Increment Financing District No. 1
Butterfield/Meyers Rd. TIF
Table of Contents
TITLE
Name of Redevelopment Project Area and
Contact Information
Redevelopment Project Information
Amendments to the Redevelopment Plan, the
Redevelopment Project and/or Area Boundary
Certification of the Chief Executive Officer of the
municipality that the municipality has complied with
all of the requirements of the TIF Statute (the "Act")
during the reporting fiscal year
Opinion of legal counsel that the municipality is in
compliance with the Act
Statement setting forth all activities undertaken in
furtherance of the objectives of the Redevelopment Plan
Description of Agreements Regarding Property Disposition
or Redevelopment
Additional Information on Uses of Funds Related to Achieving
Objectives of the Redevelopment Plan
Information Regarding Contracts with TIF Consultants
Reports Submitted by Joint Review Board
Summary of any obligations issued by the municipality and
official statements
Financial Analysis: TIF Obligations
PAGE
1
3
4
5
7
9
10
11
12
13
14
15
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2016AND ENDING DECEMBER 31, 2016
SECTION
Attachments
KandL
TITLE
For special tax allocation funds that have experienced cumulative
deposits of incremental tax revenues of $100,000 or more, a
certified audit report reviewing compliance with the Act performed
by an independent public accountant certified and licensed by the
authority of the State of Illinois
Attachment M Intergovernmental Agreements
3.1
3.2
3.3
4.0
5.0
6.0
Exhibit A
Exhibit B
Analysis of Special Tax Allocation Fund
Itemized List of Expenditures from Special
Tax Allocation Fund
Special Tax Allocation Fund Balance ( end of
reporting period)
Property purchased by the municipality within
the Redevelopment Project Area
Review of Public and Private Investment
Optional Sections
Joint Review Board Minutes
Audit and Compliance Letter
PAGE
16
17
18
20
25
27
29
31
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2016AND ENDING DECEMBER 31, 2016
Section 1. Name of Redevelopment Project Area and Contact Information
Refer to chart attached.
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2016AND ENDING DECEMBER 31, 2016
1
Attachment A. Amendments to the Redevelopment Plan, the Redevelopment Project Area
Boundary
No amendments were made to the redevelopment plan or boundaries in the reporting Fiscal
Year.
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2016 AND ENDING DECEMBER 31, 2016
4
Attachment B. Certification of the Chief Executive Officer of the municipality that the
municipality has complied with all of the requirements of the Act during
the fiscal year beginning January 1, 2016 and ending December 31, 2016.
Refer to the attached certification.
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2016AND ENDING DECEMBER 31, 2016
5
Attachment C. Opinion of legal counsel that the municipality has complied with the Act.
Refer to the attached opinion.
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2016 AND ENDING DECEMBER 31, 2016
7
Attachment D.
A.
B.
Statement setting forth all activities undertaken m furtherance of the
objectives of the Redevelopment Plan, including:
Any project implemented during the reporting fiscal year; and
A description of the redevelopment activities undertaken.
The Village continued the review of the Oak Brook Promenade redevelopment project that was
undertaken in previous reporting Fiscal Years. The project includes a number of retail and
service tenants and activity in FY 2016 included the occupancy of a portion of the former Grotto
restaurant site with a Pizza Barra restaurant. Fusion Academy ( a private one on one learning
academy) occupied 6,000 square feet on the second floor and approximately 10,000 square feet
of space is vacant. The ARCO RE real estate group is actively marketing the remaining space for
occupancy.
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2016AND ENDING DECEMBER 31, 2016
9
Attachment E. Description of Agreements Regarding Property Disposition or
Redevelopment
No property was sold by the Village, nor were any new redevelopment agreements entered into
by the Village in the reporting Fiscal Year.
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2016 AND ENDING DECEMBER 31, 2016
10
Attachment F. Additional Information on Uses of Funds Related to Achieving Objectives
of the Redevelopment Plan
The Village applied funds to the payment of certain professional costs associated with the
administration of the TIF and interest costs applied to the TIP Allocation Limited Obligation
Revenue Note.
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2016AND ENDING DECEMBER 31, 2016
11
Attachment G. Information Regarding Contracts with TIF Consultants.
The Village entered into a contract with Kane McKenna and Associates, Inc. in order to prepare
the TIF annual report. No contracts for such services included contingent payments associated
with TIF revenues nor did the consultant undertake contractual activities with entities that have
received TIF payments from the Village.
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2016AND ENDING DECEMBER 31, 2016
12
Attachment H. Reports Submitted by Joint Review Board.
No reports were submitted by the Joint Review board in the reporting Fiscal Year. The Joint
Review Board met on August 2, 2016. The minutes of the meeting are attached as Exhibit A.
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2016 AND ENDING DECEMBER 31, 2016
13
Attachment I. Summary of any obligations issued by the municipality and official
statements
No new obligations were issued by the Village in the reporting Fiscal Year.
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL .YEAR
BEGINNING JANUARY 1, 2016 AND ENDING DECEMBER 31, 2016
14
Attachment J. Financial Analysis: TIF Obligations
No new analysis was required by the Village, as no new obligations were issued. Existing note
obligations have been paid by the Village.
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2016AND ENDING DECEMBER 31, 2016
15
Attachments K and L
For special tax allocation funds that have experienced cumulative deposits of incremental tax
revenues of $100,000 or more, a certified audit report reviewing compliance with the Act
performed by an independent public accountant certified and licensed by the authority of the
State of Illinois. The audit report shall contain a letter from the independent certified public
accountant indicating compliance or noncompliance with the requirements of subsection ( q) of
Section 11-74.4-3.
An audit and accountant's certification for the Special Tax Allocation fund are attached as
Exhibit B.
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2016 AND ENDING DECEMBER 31, 2016
16
Attachment M Intergovernmental Agreements
Not applicable.
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2016 AND ENDING DECEMBER 31, 2016
17
Section 3.1 Analysis of Special Tax Allocation Fund
Refer to table attached.
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2016 AND ENDING DECEMBER 31, 2016
10
FY 2016
SECTION 3.1 -(65 ILCS 5/11-74.4-5 (d) (5) and 65 ILCS 5/11-74.6-22 (d) (5))
Provide an analysis of the special tax allocation fund.
TIF NAME: Oak Brook TIF No. 1
Fund Balance at Beginning of Reporting Period 230,211 1
Revenue/Cash Receipts Deposited in Fund During Reporting FY: Reporting Year Cumulative* % of Total
Property Tax Increment $ 354,829 $ 3,132,881
State Sales Tax Increment
Local Sales Tax Increment $ 103,007 $ 667,552
State Utility Tax Increment
Local Utility Tax Increment
Interest $ 389 $ 2,881
Land/Building Sale Proceeds
Bond Proceeds
Transfers from Municipal Sources
Private Sources
Other (identify source · if multiple other sources, attach
schedule)
*must be completed where current or prior
year(s) have reported funds
Total Amount Deposited in Special Tax Allocation
Fund During Reporting Period
Cumulative Total Revenues/Cash Receipts
458,22s 1
Total Expenditures/Cash Disbursements (Carried forward from Section 3.2) .... I $"--__ 4_39""",_15_8__.I
Distribution of Surplus
Total Expenditures/Disbursements I$ 439,158 I
NET INCOME/CASH RECEIPTS OVER/(UNDER) CASH DISBURSEMENTS I$ 19,067 I
FUND BALANCE, END OF REPORTING PERIOD* I$ 249,278 I
* if there is a positive fund balance at the end of the reporting period, you must complete Section 3.3
SURPLUS*/(DEFICIT)(Carried forward from Section 3.3) (3,2s1,98s) 1
3,803,314 I
82%
0%
18%
0%
0%
0%
0%
0%
0%
0%
0%
Section 3.2 Itemized List of Expenditures from Special Tax Allocation Fund
Refer to tables attached.
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2016 AND ENDING DECEMBER 31, 2016
20
SECTION 3.2 A-(65 ILCS 5/11-74.4-5 (d) (5) and 65 ILCS 5/11-74.6-22 (d) (5))
FY 2016
TIF NAME: Oak Brook TIF No. 1
ITEMIZED LIST OF ALL EXPENDITURES FROM THE SPECIAL TAX ALLOCATION FUND
(by category of permissible redevelopment cost, amounts expended during reporting period)
FOR AMOUNTS >$10,000 SECTION 3.2 B MUST BE COMPLETED
Category of Permissible Redevelopment Cost [65 ILCS 5/11-74.4-3 (q) and 65 ILCS 5/11-74.6-
10 (o)] Amounts Reporting Fiscal Year
1. Costs of studies, administration and professional services-Subsections (q)(1) and (o) (1) ii
Professional and administative,servioes ,, -. -3,938 .• '• .,
· .. :.•; ,• •, .•
. . /: . . .. i.c
.
:
$ 3,938
2. Cost of marketing sites-Subsections (q)(1.6) and (o)(1.6) '•
:··· . <, •.
/< .• ..
· ..
. ·
. .
. .
$ -
3.Property assembly: property acquisition, building demolition, site preparation and environmental
site improvement costs. Subsections (q)(2), (o)(2) and (o)(3) . :
: .· .. ···. . . .... ,i .
.. ••': '•·••· :< '
i : ·'.. ii: ., ... ; :;;
•, ,,', ·. :_;_;. . :
.. ··· .. .
$ -
l'l,vos1s or renaoImauon, reconstrucuon, repair or remoae11ng 01 exIsung puo11c or private ou11aIngs. · ...
Subsection (q)(3) and (o}(4) .· i
·,
i '{ :'
, •.. i:i · •.
. i <. / ...
. ·: / . .
;,i i ;;.. ·• •'
i ·· ... ,; ; .. ;..•,
:< ;/ :} ,., •:<<• ..
$ -
5. Costs of construction of public works and improvements. Subsection (q)(4) and (o)(5) •. > ......... ,•, .. ; . :. . '•,, ,,
.•:::y .... :~: A'-·:•· · .• .. · . ; /.) ,:! .... ·. •:·
I c ; .. /; .. ·· .. t :• '••· •:
·.· : .,:<.: ./.\; ..... ;
<\ ... ·./ (\-• .• ; . .s.c:.-·
:•· -:; :. ·. :; ·; ,~· . •.: ••• i; \" .. :
$ -
a.Costs of removing contaminants required by environmental laws or rules (o)(S) -Industrial Jobs
Recovery TIFs ONLY
.. ',;1
. t ,,.
mtir•
$ -
21
SECTION 3.2 A
PAGE 2
r. vost OT JOO training ana retraining, incIuaing ·weIrare to worK" programs ::;uosectIon (qJ(5J, (01111 '
and (o)(12) ' ', .
,' .. ;
' :
.. : '''' ' > ...
:
: ;
',
:• . ' .. $ -
;
a.Financing costs related to obligations issued by the municipality. Subsection (q) (6) and (0)(8)
Redevelopment Note payments 435,220 ,·• : :
,·
; ' •:
::
$ 435,220
9. Approved taxing district's capital costs. Subsection (q)(7) and (o)(9) .. ·.
\
.
. 2
y ....... .·
·. \. : '
.,··
; .;
$ -
10. Cost of Reimbursing school districts for their increased costs caused by TIF assisted housing
..
projects. Subsection (q)(7.5) -Tax Increment Allocation Redevelopment TIFs ONLY
·. • :
'. .·. . ;
:·· \:
:
.
.. ·-:···:•· ., . <·····
$ -
11. Relocation costs. Subsection (q)(8) and (o)(1 0) · ....
•·· : .·:-
<.·. < . ...
" :,· .. · .! ;
. ,'"·, .·.;. ·: ..
; ::-'<'· ... · i'< ~ .: :•::H·. ·
; ·•· ·>,·• ;.: ... J : .\:•
•. ,.:/,:; . . <
:. .. .,· •···
$ -
12.Payments in lieu of taxes as defined in Subsections 11-74.43(m) and 11-74.6-10(k). Subsection
:,; · .... \>.' }
(q)(9) and (o)(11) ... .1. .. , ··. l'
: .. , ;: .. :.' ':
: );' . ... ! ,,:,-,-:. j
• n .\ '·•· ; •;
, ......... ;.:,} : i : .. "'°
::<;:.· .. Xt ·•};
: .•. ': ii: ii''
'; ...... ,;·,.,.,,
$ -
13. 1.;osts oT JOO training, retraining aavancea vocational or career eaucallon provIaea oy otner •• :;;; ·· .. . \ taxing bodies. Subsection (q)(1 0) and (o)(12) '
·.: .. : ;: ... .: ; C ;
·/ ·"'·<r:.· ,:,. :
:,;< .. ,.;k./.fo•.·,,:· ... · . .-'·<·····•
:"<:• -r,f"".'.:,.,: ·: .. , .. ':
.,.,,::·:•, ;,·::-· 1'._.' .. ,.-:./: :
:>' ,!{: Y;•}: ; ' '
,. ji~: ' _: .•:·:j
$ -
22
SECTION 3.2 A
PAGE3
14. Costs of reimbursing private developers for interest expenses incurred on approved
redevelopment projects. Subsection (q)(11 )(A-E) and (o)(13)(A-E)
. . . · . .: .
·. ... ·.·····
'• ,'
. ,•
,, $ -
15. Costs of construction of new housing units for low income and very low-income households.
Subsection (q)(11)(F) -Tax Increment Allocation Redevelopment TIFs ONLY ·, .. :
•' . ' . .
,. : . •'·
.. 'i
. i
•
$ -.
16. Cost of day care services and operational costs of day care centers. Subsection (q) (11.5) -
Tax Increment Allocation Redevelopment TIFs ONLY ..
. · . .. '•' . ..
·.
.
$ -
I TOTAL ITEMIZED EXPENDITURES 439,158 I
23
Section 3.2 B
FY 2016
TIF NAME: Oak Brook TIF No. 1
List all vendors, including other municipal funds, that were paid in excess of $10,000 during the current
reporting year.
There were no vendors, including other municipal funds, paid in excess of
$10,000 during the current reporting period.
Name Service
1311 LLC Note Debt Service
Five Star Ventures Note Debt Service
Mary Riordan Note Debt Service
Ryan Murphy Note Debt Service
St Paul Fire and Marine Ins. Note Debt Service
24
Amount
$ 87,045.00
$ 21,760.00
$ 87,045.00
$ 21,760.00
$ 217,610.00
Section 3.3 Special Tax Allocation Fund Balance ( end of reporting period).
Refer to table attached.
BUTTERFIELD/ MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2016AND ENDING DECEMBER 31, 2016
25
SECTION 3.3 -(65 ILCS 5/11-74.4-5 (d) (5) 65 ILCS 11-74.6-22 (d) (5))
Breakdown of the Balance in the Special Tax Allocation Fund At the End of the Reporting Period
FY 2016
TIF NAME: Oak Brook TIF No. 1
FUND BALANCE, END OF REPORTING PERIOD
1. Description of Debt Obligations
Limited Obligation Note -Series 2005
Total Amount Designated for Obligations
2. Description of Project Costs to be Paid
Total Amount Designated for Project Costs
TOTAL AMOUNT DESIGNATED
SURPLUS*/(DEFICIT)
Amount of Original
Issuance
$
-I s
Is
249,21s 1
Amount Designated
3,507,263
3,507,263 I
-I
3,507,263 1
(3,257,985)!
* NOTE: If a surplus is calculated, the municipality may be required to repay the amount to overlapping taxing
26
Section 4.0 A description of all property purchased by the municipality within the
Redevelopment Project Area including:
A. Street Address
B. Approximate size or description of property
C. Purchase Price
D. Seller of property
No property was purchased in the Redevelopment Project Area by the Village in
the reporting Fiscal Year.
BUTTERFIELD/MEYERS RD. TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2016 AND ENDING DECEMBER 31, 2016
,·
27
SECTION 4 (65 ILCS 5/11-74.4-5 (d) (6) and 65 ILCS 5/11-74.6-22 (d) (6)]
FY 2016
TIF NAME: Oak Brook TIF No. 1
Provide a description of all property purchased by the municipality during the reporting fiscal year within the
redevelopment project area.
_X_ No property was acquired by the Municipality Within the Redevelopment Project Area
Property Acquired by the Municipality Within the Redevelopment Project Area
Property (1):
Street address:
Approximate size or description of property:
Purchase price:
Seller of property:
Property (2):
Street address:
Approximate size or description of property:
Purchase price:
Seller of property:
Property (3):
Street address:
Approximate size or description of property:
Purchase price:
Seller of property:
Property (4):
Street address:
Approximate size or description of property:
Purchase price:
Seller of property:
28
Section 5.0 Review of Public and Private Investment.
Refer to table attached.
BUTTERFIELD/MEYERS RD.TIF ANNUAL REPORT FOR VILLAGE OF OAK BROOK FISCAL YEAR
BEGINNING JANUARY 1, 2016AND ENDING DECEMBER 31, 2016
29
SECTION 5 • 65 ILCS 5/11-74.4-5 (d) (7) (G) and 65 ILCS 5/11-74.6-22 (d) (7) (G)
PAGE 1
FY 2016
TIF NAME: Oak Brook TIF No. 1
*Page 1 is to be included with TIF Report. Pages 2-3 are to be included ONLY if projects are listed.
Box below must be filled in with either a check or number of projects, not both
Check if NO projects were undertaken by the Municipality Within the Redevelopment Project Area:
ENTER total number of projects undertaken by the Municipality Within the Redevelopment Project Area
and list them in detail below•.
Estimated Investment
for Subsequent Fiscal
TOTAL: 11 /1 /99 to Date Year
Private Investment Undertaken (See Instructions) $ 54,690,106 $ 2,500,000
Public Investment Undertaken $ 150,000 $ 225,000
Ratio of Private/Public Investment 364 3/5
Project 1: *IF PROJECTS ARE LISTED NUMBER MUST BE ENTERED ABOVE
Promenade Retail Project
Private Investment Undertaken (See Instructions) $ 54,690,106 $ 2,500,000
Public Investment Undertaken $ 150,000 $ 225,000
Ratio of Private/Public Investment 364 3/5
Project 2:
Private Investment Undertaken (See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0
Project 3:
Private Investment Undertaken (See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0
Project 4:
Private Investment Undertaken (See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0
Project 5:
Private Investment Undertaken (See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0
Project 6:
Private Investment Undertaken (See Instructions)
Public Investment Undertaken
Ratio of Private/Public Investment 0
30
---
1
Total Estimated to
Complete Project
$ 57,190,106
$ 4,250,000
1321/46
$ 57,190,106
$ 4,250,000
13 21/46
0
0
0
0
0
Optional: Information in the following sections is not required by law, but would be helpful in evaluating the performance
of TIF in Illinois. *even though optional MUST be included as part of complete TIF report
SECTION 6
FY 2016
TIF NAME: Oak Brook TIF No. 1
Provide the base EAV (at the time of designation) and the EAV for the year reported for the redevelopment project area
Year redevelopment
project area was
designated Base EAV
Reporting Fiscal Year
EAV
20osl $ 6,604,760 1 s 14,308,670 1~ _
List all overlapping tax districts in the redevelopment project area.
If overlapping taxing district received a surplus, list the surplus.
_X_ The overlapping taxing districts did not receive a surplus.
Surplus Distributed from redevelopment
Overlapping Taxing District project area to overlapping districts
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
SECTION 7
Provide information about job creation and retention
uescr1pt1on an Cl I ype
Number of Jobs Number of Jobs (Temporary or
Retained Created Permanent) of Jobs Total Salaries Paid
$
$
$
$
$
$
$
SECTION 8
Provide a general description of the redevelopment project area using only major boundaries:
Optional Documents Enclosed
Legal description of redevelopment project area
Map of District
31
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
EXHIBIT A
EXHIBITB
VILLAGE OF OAK BROOK
BALANCE SHEET
GOVERNMENTAL FUNDS
As of December 31, 2016
Hotel/Motel
General Tax
ASSETS
Cash and investments $ 16,510,154 $ 4,403,430
Receivables
Property taxes
Sales taxes 3,715,915
Utility taxes 1,220,588
Accounts 378,340
Allotments
Accrued interest 47,339 7,186
Other 331,680 106,766
Inventories 1,355
Prepaid items 57 089
TOTAL ASSETS $ 22,262,460 $ 4,517,382
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES, AND FUND BALANCES
Liabilities
Accounts payable $ 590,501 $ 223,876
Accrued payroll 655,016
Deposits 703,015
Unearned revenues 81 271
Total Liabilities 2,029,803 223,876
Deferred Inflows of Resources
Deferred property taxes
Unavailable other receivables 160 113
Total Deferred Inflows of Resources 160113
Fund Balances
Nonspendable for inventory 1,355
Nonspendable for prepaid items 57,089
Restricted for infrastructure
Restricted for highways and streets
Restricted for fire department
Restricted for culture and recreation 4,293,506.
Restricted for economic development
Unassigned 20,014,100
Total Fund Balances 20,072,544 4,293,506
TOTAL LIABILITIES,
DEFERRED INFLOWS OF
RESOURCES, AND FUND
$ 22,262,460 $ 4,517,382 BALANCES
See accompanying notes to financial statements.
Promenade
Infrastructure TIF
$ 5,419,586 $ 249,278
354,800
1,748,277
9,644
72,738
$ 7,250,245 $ 604,078
$ 370,270 $
41,235
411 505
354,800
72 738
72 738 354,800
6,766,002
249,278
6,766,002 249,278
$ 7,250,245 $ 604,078
Page 20
VILLAGE OF OAK BROOK
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES
IN FUND BALANCE -BUDGET AND ACTUAL -PROMENADE TIF FUND -MAJOR CAPITAL PROJECT FUND
For the Year Ended December 31, 2016
With Comparative Actual Amounts for the Year Ended December 31, 2015
REVENUES
TAXES
Municipal sales tax
Property taxes
Investment income
Total Revenues
EXPENDITURES
Current
General government
Debt service
Principal
Interest and fiscal
charges
Total
Expenditures
Net Change in Fund
Balance
FUND BALANCE -
Beginning of Year
FUND BALANCE •
END OF YEAR
$
2016
Budgeted Amounts
Original
97,000 $
330,000
15
427 015
3,800
140,000
290,000
433 800
Final
97,000 $
330,000
15
427 015
3,940
145,000
290,220
439 160
=$ ===(6=, 7=8=5) =$ ===='=12=, 1=4='5)
$
Actual
103,007 $
354,829
389
458 225
3,938
145,000
290,220
439 158
Variance with
Final Budget
6,007 $
24,829
374
31 210
2
2
19,067 =$===31=,=21=2
230 211
249,278 $
2015
Actual
98,822
325,654
40
424 516
3,975
119,913
298 974
422 862
1,654
228,557
230,211
Page 109