CAFR (Year Ended December 31, 1999) _ of
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VILLAGE OF OAK BROOK
COMPREHENSIVE ANNUAL FINANCIAL REPOkT
Year Ended. December 31, 1999
VILLAGE OF OAK BROOK, ILLINOIS
_ COMPREHENSIVE ANNUAL FINANCIAL REPORT
YEAR ENDED DECEMBER 31, 1999
Prepared by: Finance Department
Darrell J. Langlois
Finance Director/Treasurer
VILLAGE OF OAK BROOK,ILLINOIS
TABLE OF CONTENTS
INTRODUCTORY SECTION
Principal officials i
Organizational chart ii
Letter of transmittal from the Village Manager iii
Letter of transmittal from the Finance Director/Treasurer iv-xi
Certificate of excellence in financial reporting xii
FINANCIAL SECTION
INDEPENDENT AUDITOR'S REPORT 1
GENERAL PURPOSE FINANCIAL STATEMENTS
Combined balance sheet-All fund types and account groups 2-3
Combined statement of revenues,expenditures and changes in fund balances-
"' All governmental fund types 4
Combined statement of revenues, expenditures and changes in
fund balances-Budget and actual-All governmental fund types 5
Combined statement of revenues, expenses and changes in
retained earnings-All proprietary fund types 6
Combined statement of cash flows-All proprietary fund types 7
Combined statement of changes in plan net assets-Pension trust funds 8
Notes to financial statements 9 -25
SUPPLEMENTARY INFORMATION
Required supplemental information:
Schedule of funding progress:
Illinois Municipal Retirement Fund 26
Police Pension Fund 27
Firefighters'Pension Fund 28
General Fund:
Statement of revenues,expenditures and changes in
fund balance-Budget and actual 29
Schedule of revenues-Budget and actual 30
Schedule of expenditures-Budget and actual 31 -38
Special Revenue Funds:
Combining balance sheet 39
Combining statement of revenues,expenditures and changes 40-41
in fund balances- Budget and actual
VILLAGE OF OAK BROOK,ILLINOIS
TABLE OF CONTENTS
FINANCIAL SECTION (Continued) _
SUPPLEMENTARY INFORMATION (Continued)
Enterprise Funds:
Combining balance sheet 42 -43 _
Combining statement of revenues,expenses,and changes in retained earnings 44
Combining statement of cash flows 45
Waterworks System Fund:
Statement of revenues, expenses, and changes in retained earnings-
Budget and actual 46 _
Schedule of operating expenses-Budget and actual 47
Schedule of property,plant and equipment and
accumulated depreciation 48 -49
Sports Core Fund:
Statement of revenues, expenses, and changes in retained earnings -
Budget and actual 50
Schedule of operating revenues-Budget and actual 51
Schedule of operating expenses -Budget and actual 52 - 54
Schedule of property,plant and equipment and
accumulated depreciation 55 - 56
Internal Service Funds:
Combining balance sheet 57
Combining statement of revenues,expenses and
changes in retained earnings 58 —
Combining statement of cash flows 59
Self-Insurance Fund:
Statement of revenues, expenses and changes in
retained earnings-Budget and actual 60
Garage Fund:
Statement of revenues, expenses and changes in
retained earnings -Budget and actual 61 --
Capital Replacement Fund:
Statement of revenues, expenses and changes in
retained earnings-Budget and actual 62
VILLAGE OF OAK BROOK,ILLINOIS
TABLE OF CONTENTS
FINANCIAL SECTION (Continued)
SUPPLEMENTARY INFORMATION (Continued)
Pension Trust Funds:
Combining statement of plan net assets 63
Combining statement of changes in plan net assets 64
Police Pension Fund:
Statement of changes in plan net assets-Budget and actual 65
Firefighters'Pension Fund:
Statement of changes in plan net assets-Budget and actual 66
General Fixed Assets Account Group:
Schedule of general fixed assets-By source 67
Schedule of general fixed assets-By function and activity 68
Schedule of changes in general fixed assets-By function and activity 69
STATISTICAL SECTION
General governmental expenditures by function-Last ten fiscal years 70
General revenues by source-Last ten fiscal years 71
Property tax levies and collections-Last ten fiscal years 72
Assessed and estimated actual value of taxable property
(in thousands)-Last ten levy years 73
Property tax rates-Direct and overlapping governments-Last ten levy years 74
Ratio of net general bonded debt to equalized assessed value and
'— net general bonded debt per capita-Last ten fiscal years 75
Computation of legal debt margin 76
Schedule of direct and overlapping bonded debt 77
Ratio of annual debt service expenditures for general bonded
debt to total general expenditures-Last ten fiscal years 78
Revenue bond coverage-Waterworks system bonds-Last ten fiscal years 79
Demographic statistics 80
Property value and construction-Last ten fiscal years 81
Principal taxpayers 82
Schedule of insurance in force 83
Miscellaneous statistics 84
VILLAGE OF OAK BROOK,ILLINOIS
PRINCIPAL OFFICIALS
December 31, 1999
Karen M.Bushy,Village President
Linda K. Gonnella,Village Clerk
BOARD OF TRUSTEES
Adam Butler William E. Kenny
George T.Caleel Gerald McInerney
John W.Craig Alfred P. Savino
VILLAGE MANAGER
Stephen B. Veitch,Village Manager
FINANCE DEPARTMENT
Darrell J. Langlois,Finance Director/Treasurer
i
VILLAGE OF OAK BROOK
ORGANIZATIONAL CHART
December, 1999
Citizens of Oak Brook
LLand
sory Boards President and
FJ-nCommissions Board of Trustees Village Clerk
Electrical Commission
Board of Fire&Police Commissioners Village Attorney Village Manager Treasurer/Budget Officer
Hotel Convention and Visitors Committee
Library Commission
Plan Commission
Safety Pathway Committee
Zoning Board of Appeals
Police Pension Board Information Services
Firefighters' Pension Board & Purchasing
Finanaal Public Engineering and Fire and Sports
Services Works Capital Projects Library Police Community Development Core
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VILLAGE OF OAK BROOK
1200 OAK BROOK ROAD
OAK BROOK , ILLINOIS 60523 -2255
PHONE: 630 990-3000
March 9, 2000 FAX: 630 990-0876
President and Board of Trustees
Village of Oak Brook
Oak Brook, IL 60521
President Bushy and Trustees:
I am pleased to present the Comprehensive Annual Financial Report for the Village of Oak Brook
for the fiscal year ended December 31, 1999. Finance Director and Village Treasurer Darrell
Langlois and his staff, in accordance with applicable standards of the Government Accounting
Standards Board and the Government Finance Officers Association,have prepared this report.
The Comprehensive Annual Financial Report is an important and legally essential document for the
Village Board and the community. It is even more valuable when viewed in conjunction with the
Village's Five-Year Financial Plan. The Annual Report presents a"snapshot"' of the Village's
financial condition at a specific point in time; the Five-Year Plan presents a long range continuous
view. Taken together, these documents present a complete picture of the present and future
financial condition of the Village.
The Village's continued financial health is reflected clearly in the Annual Financial Report. This
strength is attributable to the Village Board's conservative financial policies, a tradition of careful
financial planning, and rigorous day-to-day management of the Village's financial affairs.
The indicators of Oak Brook's financial condition continue to be positive. As you know,however,
this situation can change quickly as a result of economic cycles, State and Federal legislation and
policy decisions of elected officials. Absent significant changes in Federal or State statutes or local
policies, the information currently available suggests that the Village has an excellent opportunity to
meet the challenges presented in coming years while maintaining a financial condition of which its
citizens can be very proud.
Since
tephen B. Veitch
Village Manager
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VILLAGE OF OAK BROOK
1200 OAK BROOK ROAD
OAK BROOK , ILLINOIS 60523-2255
PHONE: 630 990-3000
FAX: 630 990-0876
March 9, 2000
President and Board of Trustees
Village of Oak Brook
Oak Brook, Illinois 60523
The Comprehensive Annual Financial Report of the Village of Oak Brook for the year ended
December 31, 1999 is submitted herewith. Responsibility for both the accuracy of the
information presented and the thoroughness and fairness of the presentation, including all
disclosures, rests with the Village. I believe the data, as presented, is accurate in all material
respects; that it is presented in a manner designed to fairly set forth the financial position and
_ results of operations of the Village as measured by the financial activity of its various funds; and
that all disclosures necessary to enable the reader to gain the maximum understanding of the
Village's financial affairs have been included.
The Comprehensive Annual Financial Report is presented in three sections: introductory,
financial and statistical. The introductory section, which is unaudited, includes this transmittal
letter, the Village's organizational chart and a list of principal officials as of the end of the
reporting period. The financial section includes the general purpose financial statements and
the combining and individual fund and account group financial statements and schedules, as
well as the auditor's report on the financial statements and schedules. The statistical section,
which is unaudited, includes financial and demographic information, which is generally
presented on a multi-year basis.
This Report includes all funds and account groups of the Village. Generally accepted
accounting principles require that the financial reporting entity include (1) the primary
government, (2) organizations for which the primary government is financially accountable, and
(3) other organizations for which the nature and significance of their relationship with the
primary government are such that exclusion would cause the reporting entity's financial
statements to be misleading or incomplete. Based upon these criteria, there are no agencies or
entities whose financial data should be combined with and included in the general purpose
financial statements of the Village.
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ECONOMIC CONDITION AND OUTLOOK
The Village of Oak Brook is located about 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 (1-294),
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 (1-88), 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
Oakbrook Terrace and on the south by Downers Grove, Westmont, Clarendon Hills and
Hinsdale.
Oak Brook is a community that has demonstrated an extremely high degree of economic
stability. While the Illinois unemployment rate hovers around 4.0%, DuPage County has
established an unemployment rate of 2.5%, significantly lower than the norm.
According to the 1990 Census, over one-third of the households in Oak Brook are two-person,
and over 62% of the occupants of the Village have resided in Oak Brook for over 10 years,
indicating a strong level of population stability. Per capita income of Village residents in 1989
was $60,347 and the mean family income was $187,501. The Census also indicates that
managerial, professional, and sales occupations are held by 74% of Village residents employed.
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 McDonalds Corporation. As a retail center, Oak Brook
offers upscale shopping, fine restaurants, and Oakbrook Center, one of the leading outdoor
shopping centers in the United States. These factors, as well as the overall strength of the
Illinois economy, have enabled the Village to continue to operate without a real estate tax due to
the sales taxes generated from retail business activities.
Changes are occurring that should enable the Village to continue to be successful into the 21"
century. As the Village evolved, thoughtful zoning regulations, particularly in the area of building
and bulk regulations, contributed to its early success. However, with increasing competition =
from other suburbs, some changes to these regulations are occurring which will allow for taller
buildings and greater floor area ratios. This has had a positive impact on the Village as
indicated by McDonald's commitment to remain in the Village well in to the 21St century, and in
the renovation of several older office buildings, and construction or announcement of three
major new buildings The future viability of the office building sector is extremely important as
approximately 30% of the Village's sales tax revenue is generated by this sector.
V
MAJOR INITIATIVES
1999
The Village completed its 1999 paving program, replaced water mains in the Yorkshire Woods
neighborhood, continued the program of replacing all water meters over approximately five
years in order to reduce unaccounted water flow, completed construction of an addition to the
Golf Club clubhouse, substantially completed a replacement irrigation system at the Golf Club,
replaced the pool deck at the Bath& Tennis Club, purchased a replacement rescue squad for
the Fire Department, began replacement of the HVAC system in the Public Works building,
substantially completed final design for a new Library building, and completed preliminary
design for the Municipal Building Project. This project, as presently conceptualized, would be a
major addition to Village Hall and would house Fire Station #1, Fire Department administration,
Community Development, Engineering, Information Services, the Communications Center, and
a multi-purpose training room and an Emergency Operating Center. The project would also
include improvements to the Village Hall site and renovation of the Police Department.
In the Future
Included in the 2000 budget is the 2000 paving program, the start of construction of a new
Library building, completion of improvements to the Public Works building HVAC system,
continuation of the water meter replacement program, completion of final design on the
Municipal Building Project, and possible expansion of the clubhouse at the Bath & Tennis Club.
In later years, the Five-Year Financial Plan includes continuation of the annual paving program,
completion of the new Library building, completion of the Municipal Building Project,
improvements to the Village's safety pathway system, and significant drainage improvements in
the Timber Trails/Merry Lane subdivisions.
The Village has carefully planned for and been accumulating funds over the last several years
for all of these projects. In accordance with Village Board policy, it is anticipated that all of these
projects will be completed without the issuance of bonded debt. However, due to increasing
costs associated with the Municipal Building project, it is currently anticipated that installment
�- contract financing will be utilized to fund approximately 50% of the cost of this project.
FINANCIAL INFORMATION
Accounting System and Budgetary Control
The Village's accounting records for general governmental operations are accounted for on a
modified accrual basis of accounting. Revenues are recorded when available and measurable.
Expenditures are recorded when services or goods are received and liabilities are incurred.
Accounting records for the Village's Proprietary Funds and Pension Trust Funds are maintained
on an accrual basis.
Vi
The Village places a great deal of emphasis upon internal accounting controls as they affect the
overall accounting system. In developing and evaluating the Village's accounting system,
consideration is given to the adequacy of internal accounting controls. Internal accounting
-
controls are designed to provide reasonable, but not absolute, assurance regarding: (1) the
safeguarding of assets against loss from unauthorized use or disposition; and (2) the reliability
of financial records for preparing financial statements and maintaining accountability for assets.
The concept of reasonable assurance recognizes that: (1) the cost of a control should not
exceed the benefits likely to be derived; and (2) the evaluation of costs and benefits requires
estimates and judgments by management.
All internal control evaluations occur within the above framework. We believe that the Village's
internal accounting controls adequately safeguard assets and provide reasonable assurance of
proper recording of financial transactions.
Budgetary control is maintained through a system of monthly revenue and expenditure/expense
versus budget accounting reports which are provided to all Trustees and department heads. All
disbursements receive approval of the Board of Trustees. Total expenditures in any fund are
legally restricted to the total amount budgeted, which is not changed without supplemental
ordinance approval. The budget is monitored at the subfunction level by the encumbrance of --
estimated purchase amounts prior to the release of purchase orders to vendors.
General Governmental Functions _
Revenues for general governmental functions as reported in the General Fund totaled
$14,708,513 in 1999.
Percent Increase
Of (Decrease)
Source m nt Total Over 1998
Intergovernmental $12,293,240 83.57% $304,731
Licenses and Permits 432,724 2.94 40,935
Service Charges 425,752 2.89 61,102
Fines and Penalties 198,769 1.25 (23,470)
Interest on Investments 692,422 4.71 (147,769)
Miscellaneous 665.606 4.54 78.058
14.708.513 100.00 313.587
Intergovernmental revenue, primarily the general sales tax, is the major revenue source for the
Village, producing 83.57% of current year revenues. The increase in revenue from the prior
year is attributable to an increase in sales tax revenue as well as increases in most of the tax
distributions received from the State of Illinois.
The increase in Licenses and Permits was due to increased building and electrical permit
activity in 1999. The increase in Service Charges resulted from receipt of fees associated with
the subdivision application for the Forest Gate subdivision. The decrease in interest income is
attributable to lower yields on the Village's investments which are marked to market. The
decreased yield was caused by significantly rising interest rates in 1999. The increase in
Miscellaneous Income was primarily attributed to increased revenue from telecommunications
infrastructure maintenance fees (IMF).
Vii ,�
'- The Village has never levied a real estate tax for general governmental functions. However, the
1998 assessed valuation of real property in the Village was $1,005,097,284, an increase of
$32,649,888, or 3.36% over the prior year.
Expenditures for general governmental purposes, grouped by function as required bYgenerally
accepted accounting principles, totaled $13,956,768 in the General Fund.
Percent Increase
Of (Decrease)
Function Amount Total Over 1998
General Government $ 4,032,865 28.90% $ 725,598
Public Safety 7,435,742 53.28 427,274
Public Works 1,678,499 12.02 220,314
Culture and Recreation 809.662 5.92 70.520
13.956.768 100.00 1 7
General Government expenditures increased due primarily to planned expenditures for
information technology as well as design costs associated with the new Library building. Public
Safety expenditures increased due to increases in personnel costs in the Police and Fire
Departments. Public Works expenditure increases are attributed to more snow removal activity
in 1999 as compared to 1998, as well as expenditures related to building repairs and
improvements. Culture and Recreation expenditures increased due to increases in both
personnel and materials in the Library, consistent with the Five-Year Financial Plan.
Motor Fuel Tax Fund
The Motor Fuel Tax Fund was established to account for the revenue received from the State of
Illinois for the local share of motor fuel tax collections. The State collects the tax on each gallon
of fuel sold within the State of Illinois and returns a percentage back to each municipality based
on population. Motor Fuel Tax revenue from the State for the year ended December 31, 1999
was $235,025. In the future Motor Fuel Tax revenue will be used by the Village to partially
finance street reconstruction and resurfacing projects.
Waterworks System Fund
Selected data for the past year is presented in the following tabulation:
Water Sales $3,369,694
Water Tap on Charges 103,381
Total Operating Revenues 3,631,527
Total Operating Expenses 4,038,892
Operating Income (Loss) (407,365)
Net Income (Loss) (407,647)
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Sports Core Fund
The 1999 financial statements reflect the nineteenth year of operation of the 18-hole golf course
and expanded operations of the Bath and Tennis Club. Operating revenues totaled $3,078,765
and operating expenses, excluding depreciation, totaled $3,110,230. Major department activity
is summarized as follows:
Revenues
Golf Club $1,890,904 61.42%
Bath &Tennis Club 1.187.861 38.58
3.078.765 100.00
Operating Expenses
Golf Club $1,327,849 39.27%
Bath & Tennis Club 1,782,381 52.71
Depreciation 271.252 8.02
3.381.482 100.00
Pensions
Employees of the Village of Oak Brook participate in one of three pension plans. They are: (1)
the Police Pension Fund of the Village of Oak Brook, covering the Village's sworn personnel in
the Police Department; (2) the Firefighters' Pension Fund of the Village of Oak Brook, covering
the Village's sworn personnel in the Fire Department; and (3) the Illinois Municipal Retirement
Fund, which covers all of the remaining Village employees who are normally scheduled to work
in excess of 1,000 hours per year on a regular basis. Illinois Municipal Retirement Fund
employees also participate in Social Security. Based on the most recent actuarial studies, all
three funds were in excess of 100% funded.
General Fixed Assets
The general fixed assets of the Village are those fixed assets used in the performance of
general governmental functions. These exclude the fixed assets of the Enterprise and Internal
Service Funds. As of December 31, 1999, the general fixed assets of the Village amounted to
$8,489,349. This amount represents the original cost of the assets and is considerably less
than their current value. Depreciation of general fixed assets is properly not recognized in the
Village's governmental fund types. The Village does not capitalize infrastructure projects in the
General Fixed Asset Account Group.
Debt Administration
As a means of financing, bonding has been used on three occasions in the Village's history. In
1973 and 1976, revenue bonds were issued for the purchase of the water system from the Oak
Brook Utility Company and for improvements and expansion of the system. After receiving
referendum approval, general obligation bonds-were issued in 1977 for the purchase of the
Sports Core and improvements to the Golf Club. All of the bonds have since been retired, with
the Village now in the enviable position of having no bonded debt outstanding. --
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Village Board policy states that a tax on real property would be imposed only to meet financial
obligations which have been approved by the voters at referendum. In accordance with this
policy, the latest edition of the Five Year Financial Plan does not contemplate issuing debt
-- which is supported by real estate taxes. The Village has, however, occasionally issued debt
that is not supported real estate taxes. In 1999, installment contract financing was utilized to
finance construction of an irrigation system at the Golf Club. Repayment of this installment
contract is anticipated to come from future Sports Core Fund revenues. In 2000, it is anticipated
that installment contract financing will be utilized to fund approximately 50% of the cost of the
Municipal Building Project. Future sales tax receipts will be utilized to repay this installment
contract.
Cash Management
It is the policy of the Village of Oak Brook to invest idle cash and increase investment income by
the efficient use of money market accounts, certificates of deposit, the Illinois Public Treasurers'
Investment Pool, the Illinois Metropolitan Investment Fund, and U.S. government and agency
�- securities. At December 31, 1999 the Village's investments, exclusive of the Pension Trust
Funds, were distributed as follows:
Illinois Public Treasurer's Investment Pool 44.12%
_ U. S. Government and Agency Securities 27.88
Illinois Metropolitan Investment Fund 20.51
— Certificates of Deposit 7.49
100.00
For the year ended December 31, 1999 the Village received $1,208,888 in interest income.
Risk Management
The Village of Oak Brook has a risk management program in place. For employee benefits,
resources are accumulated in the Self-Insurance Fund in order to fund health and dental
insurance claims. Insurance coverage for liability, property damage, and workmen's
compensation is maintained through the Intergovernmental Risk Management Agency (IRMA)
for all claims greater than $1,000. Various risk control techniques, including employee safety
and accident prevention training, have been implemented to minimize accident related losses.
OTHER INFORMATION
T
Statutes require an annual audit to be performed on the books of account, financial records, and
transactions of all administrative departments of the Village by independent certified public
accountants selected by the Board of Trustees. This requirement has been complied with and
the auditor's opinion has been included in this Report.
Certificate of Achievement
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, 1998.
X
In order to be awarded a Certificate of Achievement, a governmental unit must publish an easily
readable and efficiently organized comprehensive annual financial report, whose contents _.
conform to program standards. Such reports must satisfy both generally accepted accounting
principles and applicable legal requirements.
s
A Certificate of Achievement is valid for a period of one year only. The Village has successfully
obtained the Certificate of Achievement for 22 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.
Acknowledgments
The preparation of this Report could not be accomplished without the efficient and dedicated
services of the entire staff of the Village of Oak Brook. We wish to express our appreciation to
those persons who have made possible the publication of this Report, and to thank the
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.
Darrell J. Langlois
Finance Director/Treasurer
X1
_
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
Village of Oak Brook,
Illinois
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
December 31,- 1998
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and financial reporting.
PAGE OffjC
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X11
FINANCIAL SECTION
INDEPENDENT AUDITOR'S REPORT
„ MCGLADREY&PULLEN,LLP RSM
• Certified Public Accountants international
INDEPENDENT AUDITOR'S REPORT
To the Honorable Village President
and Members of the Board of Trustees
Village of Oak Brook, Illinois
_ We have audited the accompanying general purpose financial statements of the Village of Oak Brook,
Illinois, as of and for the year ended December 31, 1999, as listed in the table of contents. These general
purpose financial statements are the responsibility of the Village's management. Our responsibility is to
express an opinion on these general purpose financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audit provides a reasonable basis for our
opinion.
In our opinion, the general purpose financial statements referred to above present fairly, in all material
respects, the financial position of the Village of Oak Brook, Illinois, as of December 31, 1999, and the
results of its operations and the cash flows of its proprietary fund types for the year then ended in
conformity with generally accepted accounting principles.
Our audit was made for the purpose of forming an opinion on the general purpose financial statements
taken as a whole. The combining and individual fund and account group financial statements and
schedules, listed in the table of contents as supplementary information, are presented for purposes of
additional analysis and are not a required part of the general purpose financial statements of the Village
— of Oak Brook, Illinois. Such information has been subjected to the auditing procedures applied in the
audit of the general purpose financial statements and, in our opinion, is fairly presented in all material
respects in relation to the general purpose financial statements taken as a whole.
Mokena, Illinois
March 9, 2000
1
GENERAL PURPOSE FINANCIAL STATEMENTS
This page was intentionally left blank.
VILLAGE OF OAK BROOK, ILLINOIS
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
December 31, 1999
Fiduciary Account Groups
Governmental Fund Types Proprietary Fund Types Fund Types General General Total
Special Capital Internal Trust and Fixed Long-Term (Memorandum
ASSETS AND OTHER DEBITS General Revenue Project Enterprise Service Agency Assets Debt Only)
Cash and investments $ 16,543,129 $ 1,180,723 $ 2,051,380 $ 5,326,943 $ 2,705,524 $ 37,448,866 $ - $ - $ 65,256,565
Receivables,net of allowances for
uncollectibles,where applicable:
Sales taxes 2,113,217 - - - - - - - 2,113,217
Utility taxes - - 246,733 - - - - - 246,733
State income taxes 85,313 - - - - - - - 85,313
Accounts 223,122 - - 409,115 - - - - 632,237
Allotments - 23,806 - - - - - - 23,806
Accrued interest 72,764 5,090 9,189 24,091 14,945 306,948 - - 433,027
Other - 33,538 - 41,206 - - - - 74,744
Due from other funds 1,253,732 - - - - - - - 1,253,732
Advances to other funds 750,000 - - - - - - - 750,000
Inventories 5,284 - - 166,202 41,975 - - - 213,461
Restricted assets,cash and investments - - - 155,052 - - - - 155,052
Fixed assets,net of accumulated
depreciation,where applicable - - - 23,266,938 1,922,668 - 8,489,349 - 33,678,955
Other assets,water purchase rights - - - 1,675,593 - - - - 1,675,593
Amounts to be provided
for retirement of
general long-term debt - - - - - - - 187,758 187,758
Total assets and other debits $21,046,561 $ 1,243,157 $ 2,307,302 $31,065,140 $ 4,685,112 $ 37,755,814 $ 8,489,349 $ 187,758 $ 106,780,193
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I I r I I r 1 I I I I I r 1 1
Fiduciary Account Groups
Governmental Fund Types Proprietary Fund Types Fund Types General General Total
LIABILITIES,EQUITY AND Special Capital Internal Trust and Fixed Long-Term (Memorandum
OTHER CREDITS General Revenue Project Enterprise Service Agency Assets Debt Only)
Liabilities
Accounts payable $ 348,123 $ 81,300 $ 124,748 $ 585,873 $ 22,285 $ 10,329 $ - $ - $ 1,172,658
Accrued payroll 250,329 - - 34,933 1,776 - - - 287,038
Accrued interest payable - - - 10,965 - - - - 10,965
Compensated absences 503,115 - - 36,829 5,960 - - 84,398 630,302
Claims payable - - - - 119,700 - - - 119,700
Deposits payable 446,022 - 10,100 24,100 - - - - 480,222
Due to other funds - - - 1,253,732 - - - 1,253,732
Advances from other funds - - - 750,000 - - - - 750,000
Note payable - - - 89,064 - - - - 89,064
Installment contract payable - - 820,000 - - - - 820,000
Net pension obligation - - - - - - - 103,360 103,360
Total liabilities 1,547,589 81,300 134,848 3,605,496 149,721 10,329 - 187,758 5,717,041
Equity and Other Credits
Investment in general fixed assets - - - - - - 8,489,349 - 8,489,349
Contributed capital - - - 11,025,590 - - - - 11,025,590
Retained earnings:
Reserved-Golf surcharge - - - 155,052 - - - - 155,052
Unreserved - - - 16,279,002 4,535,391 - - - 20,814,393
Fund balances:
Reserved for inventories 5,284 - - - - - - - 5,284
Reserved for advances 750,000 - - - - - - - 750,000
Reserved for employee retirement - - - - - 37,745,485 - - 37,745,485
Unreserved 18,743,688 1,161,857 2,172,454 - - - - - 22,077,999
Total equity and other credits 19,498,972 1,161,857 2,172,454 27,459,644 4,535,391 37,745,485 8,489,349 - 101,063,152
Total liabilities,equity
and other credits $21,046,561 $ 1,243,157 $ 2,307,302 $31,065,140 $ 4,685,112 $ 37,755,814 $ 8,489,349 $ 187,758 $ 106,780,193
See Notes to Financial Statements.
3
VILLAGE OF OAK BROOK,ILLINOIS
COMBINED STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES-ALL GOVERNMENTAL FUND TYPES
Year Ended December 31, 1999
Total
Special Capital (Memorandum _
General Revenue Project Only)
Revenues:
Intergovernmental $ 12,293,240 $ 262,444 $ 43,264 $ 12,598,948
Utility taxes - - 1,715,573 1,715,573
Hotel/motel taxes - 338,951 - 338,951
Licenses and permits 432,724 - - 432,724
Service charges 425,752 - - 425,752
Fines and penalties 198,769 - - 198,769
Interest on investments 692,422 47,258 109,888 849,568
Miscellaneous 665,606 - - 665,606
Total revenues 14,708,513 648,653 1,868,725 17,225,891
Expenditures:
Current:
General government 4,032,865 - - 4,032,865
Public safety 7,435,742 8,076 - 7,443,818
Public works 1,678,499 - - 1,678,499
Culture and recreation 809,662 334,699 - 1,144,361 --
Capital outlay - - 2,132,889 2,132,889
Total expenditures 13,956,768 342,775 2,132,889 16,432,432
Excess (deficiency)of revenues over expenditures 751,745 305,878 (264,164) 793,459
Other financing sources(uses): ._
Operating transfers in 247,500 - - 247,500
Operating transfers(out) (139,300) - - (139,300)
108,200 - - 108,200
Excess(deficiency)of revenues and other
financing sources over expenditures
and other financing uses 859,945 305,878 (264,164) 901,659
Fund balances:
Beginning 18,639,027 855,979 2,436,618 21,931,624 _.
Ending $ 19,498,972 $ 1,161,857 $ 2,172,454 $ 22,833,283
See Notes to Financial Statements.
4 -'
I i I i i i i r
VILLAGE OF OAK BROOK,ILLINOIS
COMBINED STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES-BUDGET AND ACTUAL
ALL GOVERNMENTAL FUND TYPES
Year Ended December 31, 1999
General Special Revenue Capital Project
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
Revenues:
Intergovernmental $ 12,507,560 $ 12,293,240 $ (214,320) $ 244,900 $ 262,444 $ 17,544 $ 184,250 $ 43,264 $ (140,986)
Utility taxes - - - - - - 1,701,000 1,715,573 14,573
Hotel/motel taxes - - - 319,700 338,951 19,251 - - -
Licenses and permits 339,410 432,724 93,314 - - - - - -
Service charges 354,250 425,752 71,502 - - - - - -
Fines and penalties 219,500 198,769 (20,731) - - - - - -
Interest on investments 720,000 692,422 (27,578) 38,250 47,258 9,008 85,000 109,888 24,888
Miscellaneous 530,225 665,606 135,381 - - - - - -
Total revenues 14,670,945 14,708,513 37,568 602,850 648,653 45,803 1,970,250 1,868,725 (101,525)
Expenditures:
Current:
General government 6,655,915 4,032,865 2,623,050 - - - - - -
Public safety 7,748,815 7,435,742 313,073 23,000 8,076 14,924 - - -
Public works 1,751,680 1,678,499 73,181 - - - - - -
Culture and recreation 841,930 809,662 32,268 360,000 334,699 25,301 - - -
Capital outlay - - - - - - 3,414,000 2,132,889 1,281,111
Total expenditures 16,998,340 13,956,768 3,041,572 383,000 342,775 40,225 3,414,000 2,132,889 1,281,111
Excess(deficiency)of revenues
over expenditures (2,327,395) 751,745 3,079,140 219,850 305,878 86,028 (1,443,750) (264,164) 1,179,586
Other financing sources(uses):
Operating transfers in 247,500 247,500 - - - - 10,000 - (10,000)
Operating transfers(out) (139,300) (139,300) - (10,000) - 10,000 - - -
108,200 108,200 - (10,000) - 10,000 10,000 - (10,000)
Excess(deficiency)of revenues and other
financing sources over expenditures and
other financing uses $ (2,219,195) 859,945 $ 3,079,140 $ 209,850 305,878 $ 96,028 $ (1,433,750) (264,164) $ 1,169,586
Fund balances:
Beginning 18,639,027 855,979 2,436,618
Ending $ 19,498,972 $ 1,161,857 $ 2,172,454
See Notes to Financial Statements.
5
VILLAGE OF OAK BROOK,ILLINOIS
COMBINED STATEMENT OF REVENUES,EXPENSES,
AND CHANGES IN RETAINED EARNINGS
ALL PROPRIETARY FUND TYPES
Year Ended December 31, 1999
Proprietary Fund Types Total
Internal (Memorandum
Enterprise Service Only)
Operating revenues:
Charges for services $ 6,652,459 $ 1,883,601 $ 8,536,060
Miscellaneous 57,833 - 57,833
Total operating revenues 6,710,292 1,883,601 8,593,893
Operating expenses:
Operations 6,652,913 271,001 6,923,914
Claims and insurance - 1,169,979 1,169,979
Depreciation and amortization 767,461 294,523 1,061,984
Total operating expenses 7,420,374 1,735,503 9,155,877
Operating income(loss) (710,082) 148,098 (561,984)
Nonoperating revenues(expenses):
Investment income 235,246 124,074 359,320
Gain on sale of fixed assets - 26,718 26,718 `
Interest expense (15,995) - (15,995)
Total nonoperating revenues(expenses) 219,251 150,792 370,043
Income(loss)before operating transfers (490,831) 298,890 (191,941)
Operating transfers in 139,300 - 139,300 `
Operating transfers(out) (228,300) (19,200) (247,500)
Net income(loss) (579,831) 279,690 (300,141)
Retained earnings:
Beginning 17,013,885 4,255,701 21,269,586 "!
Ending $ 16,434,054 $ 4,535,391 $ 20,969,445
See Notes to Financial Statements.
i
6 "
VILLAGE OF OAK BROOK,ILLINOIS
COMBINED STATEMENT OF CASH FLOWS
ALL PROPRIETARY FUND TYPES
Year Ended December 31,1999 Total
Internal (Memorandum
Enterprise Service Only)
Cash Flows from Operating Activities
Operating income(loss) $ (710,082) $ 148,098 $ (561,984)
Adjustments to reconcile operating income(loss)
to net cash provided by operating activities:
Depreciation and amortization 767,461 294,523 1,061,984
Changes in assets and liabilities:
Accounts receivable 26,818 (28) 26,790
Other receivable 13,892 - 13,892
-- Inventories (25,464) (6,266) (31,730)
Accounts payable 342,482 (4,015) 338,467
Accrued payroll and compensated absences 14,213 3,028 17,241
Accrued interest payable 10,965 - 10,965
' Claims payable - 23,326 23,326
Deposits payable 750 - 750
Net cash provided by operating activities 441,035 458,666 899,701
Cash Flows from Noncapital Financing Activities
Borrowings from other funds 1,277,836 - 1,277,836
Operating transfers in 139,300 - 139,300
Operating transfers(out) (228,300) (19,200) (247,500)
Net cash provided by(used in)
noncapital financing activities 1,188,836 (19,200) 1,169,636
Cash Flows from Capital and Related Financing Activities
Purchase of fixed assets (2,865,702) (594,995) (3,460,697)
Proceeds from sale of fixed assets - 43,799 43,799
Proceeds from notes payable 93,882 - 93,882
Principal paid on notes payable (122,521) - (122,521)
Interest paid on notes payable (15,995) - (15,995)
Proceeds from installment contract payable 820,000 - 820,000
Net cash(used in)capital and
related financing activities (2,090,336) (551,196) (2,641,532)
Cash Flows from Investing Activities
_ Investment purchases (1,219,061) (476,649) (1,695,710)
Investment maturities 200,000 50,000 250,000
Interest received on investments 256,417 134,542 390,959
Net cash(used in)investing activities (762,644) (292,107) (1,054,751)
Net(decrease)in cash and cash equivalents (1,223,109) (403,837) (1,626,946)
Cash and cash equivalents:
Beginning 3,626,321 1,532,189 5,158,510
Ending $ 2,403,212 $ 1,128,352 $ 3,531,564
Reconciliation of Cash and Cash Equivalents
to Combined Balance Sheet
Cash and cash equivalents $ 2,403,212 $ 1,128,352 $ 3,531,564
Investments(including$155,052 of restricted assets) 3,078,783 1,577,172 4,655,955
$ 5,481,995 $ 2,705,524 $ 8,187,519
Supplemental Schedule of Noncash Investing
and Financing Activities:
Appreciation(depreciation)in the
fair value of investments $ (16,998) $ (8,854) $ (25,852)
See Notes to Financial Statements.
7
VILLAGE OF OAK BROOK,ILLINOIS
COMBINED STATEMENT OF CHANGES IN PLAN NET ASSETS —
PENSION TRUST FUNDS
Year Ended December 31, 1999
Additions
Contributions:
Employer $ 141,008 `
Plan members 350,347
Total contributions 491,355
Investment income:
Net depreciation in fair value of investments (100,182)
Interest 2,436,199
Net investment income 2,336,017
Total additions 2,827,372
Deductions
Benefits and refunds 1,219,999
Administrative expenses 130,710
Total deductions 1,350,709
Net increase 1,476,663
Net assets held in trust for pension benefits:
Beginning 36,268,822
Ending $ 37,745,485 --
See Notes to Financial Statements.
8
-� VILLAGE OF OAK BROOK,ILLINOIS
NOTES TO FINANCIAL STATEMENTS
Note 1. Financial Reporting Entity,Measurement Focus,Basis of Accounting and Basis of
Presentation,and Significant Accounting Policies
Financial Reporting Entity: The Village of Oak Brook, Illinois, (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.
Generally accepted accounting principles require that the financial reporting entity include (1) the primary
government, (2) organizations for which the primary government is financially accountable and (3) other
organizations for which the nature and significance of their relationship with the primary government are such
that exclusion would cause the reporting entity's financial statements to be misleading or incomplete. Based
upon this criteria, there are no agencies or entities whose financial data should be combined with and included
in the general purpose financial statements of the Village.
Measurement Focus, Basis of Accounting and Basis of Presentation: The accounts of the Village are organized
on the basis of funds and account groups. A fund is an independent fiscal and accounting entity with a
self-balancing set of accounts. Fund accounting segregates funds according to their intended purpose and is
�— used to aid management in demonstrating compliance with finance-related legal and contractual provisions.
The minimum number of funds is maintained consistent with legal and managerial requirements. Account
groups are a reporting device to account for certain assets and liabilities of the governmental funds not recorded
directly in those funds.
The Village has the following funds and account groups:
Governmental funds are used to account for the Village's general government activities. Governmental fund
types use the flow of current financial resources measurement focus and the modified accrual basis of
accounting. Under the modified accrual basis of accounting revenues are recognized when susceptible to
accrual (i.e., when they are "measurable and available"). "Measurable" means the amount of the transaction
can be determined and "available" means collectible within the current period or soon enough thereafter to pay
liabilities of the current period. The Village considers all revenues available if they are collected within 60
days after year-end.
Expenditures are recorded when the related fund liability is incurred, except for unmatured principal and
interest on general long-term debt which is recognized when due, and certain compensated absences which are
recognized when the obligations are expected to be liquidated with expendable available financial resources.
Sales taxes, taxes collected and held by the State at year-end on behalf of the Village, certain charges for
services, and interest are susceptible to accrual and are recognized as revenue. Other receipts and taxes become
measurable and available when cash is received by the Village and are recognized as revenue at that time.
Entitlements and grants are recorded as revenue at the time of receipt or earlier if the susceptible to accrual
criteria are met. Expenditure-driven grants are recognized as revenue when the qualifying expenditures have
been incurred and all other grant requirements have been met.
9
VILLAGE OF OAK BROOK,ILLINOIS
NOTES TO FINANCIAL STATEMENTS
Note 1. Financial Reporting Entity,Measurement Focus,Basis of Accounting and Basis of
Presentation,and Significant Accounting Policies(continued)
Governmental funds include the following fund types:
General Fund
i
The General Fund is the Village's primary operating fund. It accounts for all financial resources of the
Village, except those required to be accounted for in another fund.
Special Revenue Funds
The special revenue funds account for revenue sources that are legally restricted to expenditures for
specific purposes(not including expendable trusts or major capital projects).
Capital Project Fund
The Capital Project Fund accounts for the acquisition of fixed assets or construction of major capital
projects not being financed by proprietary funds. r
Proprietary funds are accounted for on the flow of economic resources measurement focus and use the accrual
basis of accounting. Under this method, revenues are recorded when earned and expenses are recorded at the
time the liabilities are incurred. The Village applies all applicable Governmental Accounting Standards Board
(GASB)pronouncements as well as Financial Accounting Standards Board pronouncements issued on or before
November 30, 1989, unless those pronouncements conflict with or contradict GASB pronouncements. The
proprietary funds include the following fund types:
Enterprise Funds
Enterprise funds are used to account for those operations that are financed and operated in a manner
similar to private business or where the Board has decided that the determination of revenues earned,
costs incurred and/or net income is necessary for management accountability. `
Internal Service Funds
�Y
Internal service funds account for operations that provide services to other departments of the Village on
a cost-reimbursement basis.
Fiduciary funds account for assets held by the Village in a trustee capacity or as an agent on behalf of others.
The fiduciary funds consist of the pension trust funds.
r
10
VILLAGE OF OAK BROOK,ILLINOIS
NOTES TO FINANCIAL STATEMENTS
Note 1. Financial Reporting Entity,Measurement Focus,Basis of Accounting and Basis of
Presentation,and Significant Accounting Policies(continued)
Pension Trust Funds
Pension trust funds financial statements are prepared using the accrual basis of accounting. Plan member
contributions are recognized in the period in which the contributions are due. Employer contributions to
the plan are recognized when due and the employer has made a formal commitment to provide the
—' contributions. Benefits and refunds are recognized when due and payable in accordance with the terms
of the plan. Pension trust funds account for assets of the Village's police and firefighters'pension plans.
Account groups are not funds and are concerned only with measurement of financial position, and are not
involved with results of operations. The two account groups are as follows:
The general fixed assets account group is used to account for fixed assets not accounted for in
proprietary or trust funds.
The general long-term debt account group is used to account for the general long-term debt and
certain other liabilities that are not specific liabilities of proprietary or trust funds.
The significant accounting policies followed by the Village include the following:
Accounting Estimates: The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that affect the amounts reported
in the financial statements and accompanying notes. Actual results could differ from those estimates.
Cash Equivalents: For purposes of reporting cash flows, the Village considers all highly liquid investments,
with a maturity of three months or less when purchased,to be cash equivalents.
Investments: Investments are carried at fair value, except for insurance contracts which are carried at contract
value,which approximates fair value.
Short-term Interfund Receivables/Payables: During the course of operations, numerous transactions occur
between individual funds for goods provided or services rendered. These receivables and payables are
classified as "due from other funds" or"due to other funds" on the balance sheet.
Advances to Other Funds: Noncurrent portions of long-term interfund loan receivables are reported as
advances and are offset equally by a fund balance reserve account which indicates that they do not constitute
expendable available financial resources and, therefore,are not available for appropriation.
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 a fund balance reserve
which indicates that they do not constitute "available spendable resources" even though they are a component
of net current assets.
11
VILLAGE OF OAK BROOK,ILLINOIS
NOTES TO FINANCIAL STATEMENTS
Note 1. Financial Reporting Entity,Measurement Focus,Basis of Accounting and Basis of
Presentation,and Significant Accounting Policies(continued)
Intangible Assets - Water Purchase Rights: The Village is a customer of the DuPage Water Commission, and
has executed a Water Supply Contract with the Commission for a term ending in 2024. The Contract provides
that the Village 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 were
capitalized until the Commission began to deliver water, and are amortized, using the straight-line method over
the remaining term of the contract,and expensed along with the other operation charges from the Commission.
Fixed Assets: Fixed assets used in governmental fund types of the Village are recorded in the general fixed
asset account group at cost or estimated historical cost if purchased or constructed. Donated fixed assets are
recorded at the estimated fair value at the date of donation. Assets in the general fixed asset account group are —'
not depreciated.
Public domain(infrastructure) general fixed assets consisting of roads,bridges, sidewalks, and other assets that
are immovable and of value only to the Village are not capitalized.
Property, plant and equipment in the proprietary funds of the Village are recorded at cost. Property,plant and
equipment donated to these proprietary fund type operations are recorded at their estimated fair value at the
date of donation.
Property,plant and equipment of the enterprise and internal service funds are depreciated using the straight-line
method over the following estimated useful lives of the assets.
Estimated
Useful Lives
Building and improvements 40 years
Equipment 4-40 years
Waterworks system 15-40 years _
Automotive equipment 2-30 years
Compensated Absences: Accumulated vacation leave that is expected to be liquidated with expendable _
available financial resources is reported as an expenditure and a fund liability of the governmental fund that
will pay it. Amounts of vested or accumulated sick leave that are not expected to be liquidated with expendable
available financial resources are reported in the general long-term debt account group. No expenditure is _
reported for these amounts. Accumulated vacation leave of proprietary funds is recorded as an expense and
liability of those funds as the benefits accrue to employees.
In accordance with the provisions of GASB 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 is estimated to be taken as a termination
benefit at retirement.
12
VILLAGE OF OAK BROOK,ILLINOIS
NOTES TO FINANCIAL STATEMENTS
Note 1. Financial Reporting Entity,Measurement Focus,Basis of Accounting and Basis of
Presentation,and Significant Accounting Policies(continued)
Reservations of Fund Balances: Reservations of fund balances represent those assets which are not available
for appropriation and are not considered expendable available resources.
Reservations of Retained Earnings: Reservations of retained earnings represent the amounts set aside as
restricted cash and investments on legally imposed reservations.
Memorandum Only Total Columns: The total columns on the general purpose financial statements are
captioned "memorandum only" because they do not represent consolidated financial information and are
presented only to facilitate financial analysis. The columns do not present information that reflects financial
position, results of operations or cash flows in accordance with generally accepted accounting principles.
Interfund eliminations have not been made in the aggregation of this data.
Note 2. Budgets and Deficits
Budgets
The Village follows these procedures in establishing the budgetary data reflected in the financial statements:
a) All departments of the Village submit budget requests to the Village Manager so that a budget
may be prepared.
b) 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.
c) Public hearings are conducted by the Village to obtain taxpayer comments.
d) Subsequently,the budget is adopted by the Village Board.
e) Annual budgets are adopted for all funds on a basis consistent with generally accepted accounting
principles.
f) Formal budgetary integration is employed as a management control device during the year for all
funds of the Village.
g) Appropriations lapse at year-end.
h) 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 fund budget in total.
i) 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 fund
had an excess of expenditures/expenses, exclusive of depreciation and amortization over budget
for the fiscal year.
13
VILLAGE OF OAK BROOK,ILLINOIS
NOTES TO FINANCIAL STATEMENTS
Note 2. Budgets and Deficits (continued)
Deficit Fund Equity: The Sports Core Fund, an enterprise fund, had a deficit in retained earnings of$932,757 _
as of December 31, 1999. This deficit is due primarily to depreciation expense. The deficit is expected to be
eliminated within the course of future operations of the Sports Core and through potential sale of land.
Note 3. Deposits and Investments
The Village maintains a cash pool and an investment pool that is available for use by all funds, except the
pension trust funds. Each fund type's portion of both pools is included in "cash and investments" on the
combined balance sheet. In addition, investments are separately held by several of the Village's funds. As
required by State statute, the deposits and investments of the pension trust funds are held separately from those
of other funds.
Statutes authorize the Village to make deposits in insured commercial banks and savings and loan institutions,
and make investments in obligations of the U.S. Treasury and other U.S. agencies, insured credit union shares,
money market mutual funds with portfolios of securities issued or guaranteed by the United States or
agreements to repurchase these same obligations, repurchase agreements, short-term commercial paper rated _
within the three highest classifications by at least two standard rating services, and the Illinois Funds. Pension
funds may also invest in other investments as allowed by Illinois compiled statutes.
Deposits: As of December 31, 1999, the carrying amount of the Village's deposits totaled$3,199,444, with the
bank balances totaling $3,219,574. The Village's deposits are categorized below to give an indication of the
level of risk assumed by the Village.
Category 1
Deposits covered by federal depository insurance, or by collateral held by the Village, or its _
agent, in the Village's name $ 3,219,574
Category 2
Deposits covered by collateral held by the pledging financial institution's trust department,
or by its agent,in the Village's name -
Category 3
Deposits covered by collateral held by the pledging financial institution, or its trust
department, or its agent but not in the Village's name, and deposits which are uninsured
and uncollateralized -
$ 3,219,574
Investments: The Village's investments are categorized to give an indication of the level of risk assumed by the
Village. Category 1 includes investments that are insured or registered or the securities are held by the Village
or its agent in the Village's name. Category 2 includes uninsured and unregistered securities which are held by —
the counterparty's trust department or agent in the Village's name. Category 3 includes uninsured and
unregistered securities which securities are held by the counterparty, or by its trust department or agent but not
in the Village's name.
14
VILLAGE OF OAK BROOK,ILLINOIS
NOTES TO FINANCIAL STATEMENTS
Note 3. Deposits and Investments(Continued)
Carrying Amount
Category
1 2 3 Total
State and local obligations $ - $ - $ 761,930 $ 761,930
U.S. government securities 19,458,121 - 10,430,773 29,888,894
$ 19,458,121 $ - $ 11,192,703
Investments not subject to risk categorization:
Illinois Metropolitan Investment Fund 5,476,598
Insurance contracts 5,182,276
Illinois Funds 11,810,204
Mutual funds 9,092,271
Total investments $ 62,212,173
The above deposits of $3,199,444 and investments of $62,212,173 totaling $65,411,617 are reported in the
financial statements as follows:
Cash and investments $ 65,256,565
Restricted assets, cash and investments 155,052
$ 65,411,617
Note 4. Fixed Assets
General Fixed Assets
The following is a summary of changes in the general fixed assets during the year:
_ Balance Balance
January 1 Additions Retirements December 31
Land $ 616,829 $ - $ - $ 616,829
Building and equipment 4,400,614 508,712 - 4,909,326
Other equipment 1,412,555 353,345 - 1,765,900
Computer equipment 933,936 263,358 - 1,197,294
Totals $ 7,363,934 $ 1,125,415 $ - $ 8,489,349
15
VILLAGE OF OAK BROOK,ILLINOIS
NOTES TO FINANCIAL STATEMENTS —
Note 4. Fixed Assets(continued) —
Proprietary Fixed Assets
The following is a summary of proprietary fund type fixed assets as of December 31, 1999.
Enterprise -�
Waterworks Sports
System Core Total
Land and improvements $ 215,800 $ 10,215,110 $ 10,430,910
Buildings and improvements 1,033,308 4,127,700 5,161,008
Equipment 762,187 1,083,687 1,845,874 —
Waterworks system 15,527,319 - 15,527,319
Construction in progress - 927,356 927,356
17,538,614 16,353,853 33,892,467
Less: accumulated depreciation 7,130,597 3,494,932 10,625,529
$ 10,408,017 $ 12,858,921 $ 23,266,938 —
Internal Service
Capital
Garage Replacement Total
Automotive equipment $ - $ 3,661,877 $ 3,661,877
Equipment 126,812 - 126,812
126,812 3,661,877 3,788,689
Less: accumulated depreciation 96,783 1,769,238 1,866,021
$ 30,029 $ 1,892,639 $ 1,922,668
Note 5. 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; and natural disasters.
The Village participates in the Intergovernmental Risk Management Agency (IRMA) which is an organization
of municipalities and special districts in Northeastern Illinois which have formed an association under the
Illinois Intergovernmental Cooperation's Statute to pool its risk management needs. The Village pays annual —
premiums to IRMA for its workers' compensation, general liability and property coverage.
The Village assumes the first $1,000 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 the Agency beyond it representation on the Board of Directors.
16
VILLAGE OF OAK BROOK,ILLINOIS
NOTES TO FINANCIAL STATEMENTS
Note 5. Risk Management (continued)
— 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.
In addition, the Village provides medical and dental coverage to Village employees, their dependents, and
retirees through a limited self-insurance program. The Village is self-insured for the first $30,000 per
individual for medical claims up to a maximum limit of$940,050 for all individuals. Commercial insurance is
carried for amounts in excess of the self-insured amounts. 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 based
upon equivalent premium estimates. Liabilities are reported when it is probable that a loss has occurred and the
amount of the loss can be reasonably estimated. Reported liabilities are estimated based on historical cost
information and include an amount for claims that have been incurred but not reported. The total claim
–' liability at year-end was$119,700.
A reconciliation of claims payable for the current year and that of the preceding year is as follows:
1999 1998
Claims payable,beginning of year $ 96,374 $ 87,809
Claims incurred and changes in estimate 984,100 738,301
Claims paid (960,774) (729,736)
Claims payable, end of year $ 119,700 $ 96,374
Note 6. Long-Term Debt
Changes in lone-term debt: During the year,the changes in general long-term debt were as follows:
_ Balances Balances
January 1 Increases Decreases December 31
Compensated absences $ 50,184 $ 34,214 $ - $ 84,398
Net pension obligation - 103,360 - 103,360
$ 50,184 $ 137,574 $ - $ 187,758
17
VILLAGE OF OAK BROOK,ILLINOIS
NOTES TO FINANCIAL STATEMENTS _
Note 6. Long-Term Debt (continued)
Notes Payable
The Village has issued a note payable to provide funds for the acquisition of capital assets for proprietary —'
activities. This note, therefore, is reported in the proprietary fund. The notes payable, currently outstanding, is
as follows:
Fund Debt Balance Balance
Issue Retired By January 1 Debt Issued Debt Retired December 31
Sports Core Tennis Dome Refunding
Notes due in monthly payments
of$2,806 through October 28,2000
(at which time the remainder is due)
including interest at 4.81%, Sports
unsecured Core $ 117,703 $ 93,882 $ 122,521 $ 89,064
Installment Contract Payable
The village has issued an installment contract payable to provide funds for the acquisition of capital assets for
proprietary activities. This installment contract payable, therefore, is reported in the proprietary fund. The
installment contract payable,currently outstanding is as follows:
Fund Debt Balance Balance
Issue Retired By January 1 Debt Issued Debt Retired December 31
General Fund Certificates, Series 1999
dated September 24, 1999,4.93% '—
interest bearing contract,due in
annual installments ranging from
$65,000 to $100,000 through --
September 15,2009,interest
payable March 15 and Sports
September 15 of each year, Core
secured by sales and use taxes. $ - $ 820,000 $ - $ 820,000
18
—' VILLAGE OF OAK BROOK,ILLINOIS
NOTES TO FINANCIAL STATEMENTS
Note 6. Long-Term Debt (continued)
Debt Service Requirements
Annual debt service requirements on the outstanding debt is as follows:
Fiscal Year Ending December 31
2000 $ 193,479
2001 107,222
2002 108,771
2003 105,073
2004 106,376
2005 107,431
2006 103,241
2007 104,050
2008 104,613
2009 104,930
$ 1,145,186
Interest Portion $ 236,122
Legal Debt Margin
1998 Assessed Valuation(latest information available) $1,005,097,284
Legal Debt Limit- 8.625%of Assessed Valuation $ 86,689,641
Amount of Debt Applicable to Debt Limit 820,000
Legal Debt Margin $ 85,869,641
19
VILLAGE OF OAK BROOK,ILLINOIS
NOTES TO FINANCIAL STATEMENTS
Note 7. Interfund Account Balances —
Individual fund interf ind receivable and payable balances as of December 31, 1999,are as follows:
Due From/To Other Funds
Receivable Fund Payable Fund Amount _
General Sports Core $ 1,253,732
Advance From/To Other Funds
Receivable Fund Payable Fund Amount _
General Sports Core $ 750,000
Note 8. Commitments
DuPaize Water Commission `
The Village is a customer of the DuPage Water Commission, and has executed a Water Supply 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
2000 $ 824,000
2001 824,000
2002 824,000
2003 824,000
2004 824,000 _
Thereafter 16,480,000
$ 20,600,000
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.
Other —'
The Village has construction and purchase commitments of approximately$329,000 as of December 31, 1999.
20
VILLAGE OF OAK BROOK,ILLINOIS
NOTES TO FINANCIAL STATEMENTS
Note 9. Segment Information-Enterprise Funds
The Village maintains the following enterprise funds which are intended to be self-supporting through user fees
charged for services to the public. Financial segment information as of and for the year ended December 31,
1999 is as follows:
Waterworks Sports
System Core Total
Operating revenues $ 3,631,527 $ 3,078,765 $ 6,710,292
_ Depreciation and amortization expense 496,209 271,252 767,461
Operating income(loss) (407,365) (302,717) (710,082)
Operating transfers in - 139,300 139,300
Operating transfers(out) (228,300) - (228,300)
Net income(loss) (407,647) (172,184) (579,831)
Plant,property and equipment additions 615,161 2,250,541 2,865,702
_ Total assets 17,665,397 13,399,743 31,065,140
Net working capital 5,283,201 (1,416,140) 3,867,061
Total equity 17,366,811 10,092,833 27,459,644
Note 10. Employee Retirement Plans
All Village full-time employees are covered under one of the following employee retirement plans:
Illinois Municipal Retirement Fund
The Village's defined benefit pension plan, Illinois Municipal Retirement (IMRF), provides retirement,
disability, annual cost of living adjustments and death benefits to plan members and beneficiaries. IMRF is an
—' agent multiple employer pension plan that acts as a common investment and administrative agent for local
governments and school districts in Illinois. The Illinois Pension Code establishes the benefit provisions of the
plan that can only be amended by the Illinois General Assembly. IMRF issues a publicly available financial
report that includes financial statements and required supplementary information. That report may be obtained
by writing to the Illinois Municipal Retirement Fund,2211 York Road, Suite 500, Oak Brook, Illinois 60523.
Employees participating in IMRF are required to contribute 4.50 percent of their annual covered salary. The
member rate is established by state statute. The Village is required to contribute at an actuarially determined
rate. The employer rate for calendar year 1998 was 8.31 percent of payroll. The employer contribution
requirements are established and may be amended by the IMRF Board of Trustees.
21
VILLAGE OF OAK BROOK,ILLINOIS
NOTES TO FINANCIAL STATEMENTS
Note 10. Employee Retirement Plans (continued)
For December 31, 1998, the Village's annual pension cost of$313,899 was equal to the Village's required and _
actual contributions. The required contribution was determined as part of the December 31, 1996 actuarial
valuation using the entry age actuarial cost method. The actuarial assumptions included (a) 7.50% investment
rate of return (net of administrative expenses), (b) projected salary increases ranging from .4% to 11.6% per
year, and(c)3%per year cost-of-living adjustments. Both(a)and(b)included an inflation component of 4.0%.
The actuarial value of EVIRF assets was determined using techniques that smooth the effects of short-term
volatility in the market value of investments over a five-year period. IMRF's unfunded actuarial accrued
liability is being amortized as a level percentage of projected payroll on a closed basis. The remaining
amortization period at December 31, 1998 was 34 years.
Trend Information —'
Calendar Annual Percentage
Year Pension of APC
Ending Cost(APC) Contributed
12/31/98 $ 313,899 100 %
12/31/97 309,871 100
12/31/96 271,563 100
Actuarial assumptions used to determine the pension benefit obligation for IMRF for 1996 were changed due
the 1993-1995 experience study. The principal changes were:
• Fewer members are expected to take refunds.
• The inflation salary assumption was lowered to 4.00% from 4.25%.
• Expected salary increases due to longevity were increased.
Police Pension Plan
Police sworn personnel are covered by the Police Pension Plan which is a defined benefit single-employer
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 and may be amended only by the Illinois
Legislature. The plan provides retirement benefits as well as death and disability benefits.
Covered employees are required to contribute 9% of their base salary to the Police Pension Plan. The member
rate is determined by state statute. The Village is required to contribute at an actuarially determined rate. The
employer rate for fiscal year 1999 was 3.21%of covered payroll.
22
VILLAGE OF OAK BROOK,ILLINOIS
NOTES TO FINANCIAL STATEMENTS
—
Note 10. Employee Retirement Plans(continued)
The Village's annual pension cost and net pension obligation to the Plan for the current year were as follows:
Annual required contribution $ 170,378
Interest on net pension obligation (4,115)
Adjustment to annual requirement contribution 2,242
Annual pension cost 168,505
Contributions made 69,674
Increase in net pension obligation 98,831
Net pension obligation,beginning of year (54,862)
Net pension obligation,end of year $ 43,969
The annual required contribution for the year ended December 31, 1999, was determined as part of the
December 31, 1998 actuarial valuation report using the entry age normal cost method. The actuarial
assumptions included (a) 7.50% investment rate of return, (b) projected salary increases of 5.25%, (c) 3% per
year cost of living adjustments. Both(a)and(b)included an inflation component of 3%. The actuarial value of
Police Pension assets was determined using market value.
Trend Information
— Calendar Annual Annual Percentage
Year Pension Contributions of APC
Ending Cost(APC) Made Contributed
12/31/99 $ 168,505 $ 69,674 41.35%
12/31/98 146,032 192,824 132.04%
12/31/97 216,370 224,376 103.70%
Investment Concentration: As of December 31, 1999, the Police Pension Plan holds shares in the Vanguard
Institutional Mutual Fund with a fair value of$2,429,633 which represents 12.4% of plan assets and shares in
the Vanguard Equity Index Mutual Fund with a fair value of$1,458,441 which represents 7.5% of plan net
assets.
Firefighters' Pension Plan
Fire sworn personnel are covered by the Firefighters' Pension Plan which is a defined benefit single-employer
pension plan. Although this is a single-employer pension plan, the defined benefits as well as the employee and
employer contributions levels are governed by Illinois Compiled Statutes and may be amended only by the
Illinois legislature. The plan provides retirement benefits as well as death and disability benefits.
Covered employees are required to contribute 8.455% of their salary to the Firefighters' Pension Plan. The
Village is required to contribute at an actuarially determined rate. The employer rate for fiscal year 1999 was
3.99%of covered payroll.
23
VILLAGE OF OAK BROOK,ILLINOIS
NOTES TO FINANCIAL STATEMENTS
Note 10. Employee Retirement Plans(continued)
The Village's annual pension cost and net pension obligation to the Plan for the current year were as follows:
Annual required contribution $ 133,566
Interest on net pension obligation (206)
Adjustment to annual requirement contribution 108
Annual pension cost 133,468
Contributions made 71,334
Decrease in net pension obligation 62,134
Net pension obligation,beginning of year (2,743)
Net pension obligation, end of year $ 59,391
The required contribution for the year ended December 31, 1999, was determined as part of the December 31,
1998, actuarial valuation report using the entry age normal cost method. The actuarial assumptions included
(a) 7.50% investment rate of return, (b) projected salary increases of 5.0%, (c) 3% per year cost of living
adjustments. Both (a) and (b) included an inflation component of 3%. The actuarial value of Firefighters'
Pension assets was determined using market value.
Trend Information —
Calendar Annual Annual Percentage
Year Pension Contributions of APC
Ending Cost(APC) Made Contributed
12/31/99 $ 133,468 $ 71,334 53.4%
12/31/98 160,885 165,029 102.6%
12/31/97 180,026 178,586 99.2%
Investment Concentrations: As of December 31, 1999, the Fire Pension Plan holds an insurance contract with
Nationwide Life Insurance Company with a fair value of$1,060,488 which represents 5.8% of plan assets, an
insurance contract with Guardian Life Insurance Company with a fair value of$1,041,047 which represents
5.7% of plan assets and shares in the Vanguard Index Trust Mutual Fund with a fair value of$1,418,479 which
represents 7.8%of plan assets.
24
VILLAGE OF OAK BROOK,ILLINOIS
NOTES TO FINANCIAL STATEMENTS
Note 11. Deferred Compensation Plan
The Village offers its employees a deferred compensation plan created in accordance with Internal Revenue
Code Section 457. The plan, available to all Village employees,permits them to defer a portion of their salary
until future years. For the fiscal year ended 1999,the Village made no contribution.
Note 12. 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 effect on the financial condition of the Village.
�— 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.
Note 13. Pronouncement Issued But Not Yet Adopted
GASB Statement No. 34,Basic Financial Statements and Management's Discussion and Analysis for State and
Local Governments, establishes financial reporting standards for state and local governments, including states,
cities, towns, villages, and special-purpose governments such as school districts and public utilities. Some of
the more significant aspects of the new standard include: reporting the overall state of the government's
_ financial health,not just individual funds; providing the most complete information available about the cost of
delivering services to the citizens; including, for the first time, information about the government's public
infrastructure assets- such as bridges, roads,and storm sewers; and including an introductory section analyzing
_ the government's financial performance. The Village is required to adopt this Statement for the fiscal year
ending December 31, 2003. The adoption of this Statement will have a material effect on the Village's
financial statements.
25
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SUPPLEMENTARY FINANCIAL
INFORMATION
VILLAGE OF OAK BROOK,ILLINOIS
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF FUNDING PROGRESS
ILLINOIS MUNICIPAL RETIREMENT FUND
December 31, 1999
Schedule of Funding Progress
Unfunded
Actuarial (Overfunded)
Accrued AAL as a
Actuarial Liability Unfunded Percentage
�. Actuarial Value (AAL) (Overfunded) Funded Covered of Covered
Valuation of Assets Entry Age AAL Ratio Payroll Payroll
Date (a) (b) (b-a) (a/b) (c) ((b-a)/c)
—
12/31/98 $ 7,108,829 $ 6,882,205 $ (226,624) 103.29% $ 3,777,360 (6.00)
12/31/97 5,941,801 6,161,874 220,073 96.43% 3,578,453 6.15%
12/31/96 4,938,422 4,984,852 46,430 99.07% 3,207,244 1.45%
12/31/95 4,315,490 4,524,132 208,642 95.39% 3,104,866 6.72%
12/31/94 3,555,301 3,731,564 176,263 95.28% 2,706,579 6.51%
12/31/93 3,144,278 3,394,340 250,062 92.63% 2,374,822 10.53%
—
26
VILLAGE OF OAK BROOK,ILLINOIS
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF FUNDING PROGRESS
POLICE PENSION FUND
Actuarial (Overfunded)
Accrued AAL as a
Actuarial Liability Percentage of
Actuarial Value of (AAL) (Overfunded) Funded Covered Covered
Valuation Assets Entry Age AAL Ratio Payroll Payroll
Date (a) (b) (b-a) (a/b) (c) ((b-a)/c)
12/31/99 $ 19,542,082 $ 18,564,949 $ (977,133) 105.3% $ 2,172,484 (45.0)%
12/31/98 18,904,148 17,216,822 (1,687,326) 109.8% 2,172,052 (77.7)%
12/31//97 17,240,465 15,849,416 (1,391,049) 108.8% 1,822,595 (76.3)%
The information presented in the required supplementary schedule was determined as part of the i
actuarial valuations at the dates indicated. Additional information as of the latest actuarial valuation
follows:
Valuation date 12/31/99
Actuarial cost method Entry age
Amortization method Level percentage of pay closed
Remaining amortization period 34 years
Asset valuation method Market value
Actuarial assumptions:
Investment rate of return * 7.50%
Projected salary increases * 5.25%
* Includes inflation for cost-of-living
adjustment at 3%per year
i
27
—
VILLAGE OF OAK BROOK,ILLINOIS
REQUIRED SUPPLEMENTARY INFORMATION
SCHEDULE OF FUNDING PROGRESS
FIREFIGHTERS' PENSION FUND
Actuarial (Overfunded)
Accrued AAL as a
Actuarial Liability Percentage of
Actuarial Value of (AAL) (Overfunded) Funded Covered Covered
Valuation Assets Entry Age AAL Ratio Payroll Payroll
Date (a) (b) (b-a) (a/b) (c) ((b-a)/c)
12/31/99 $ 18,203,403 $ 18,051,091 $ (152,312) 100.8% $ 1,788,993 (8.5)%
12/31/98 17,364,674 15,659,293 (1,705,381) 110.9% 1,530,499 (111.4)%
12/31/97 16,159,276 15,009,251 (1,150,025) 107.7% 1,424,744 (80.7)%
The information presented in the required supplementary schedule was determined as part of the
actuarial valuations at the dates indicated. Additional information as of the latest actuarial valuation
follows:
Valuation date 12/31/99
Actuarial cost method Entry age
Amortization method Level percentage of pay closed
Remaining amortization period 34 years
Asset valuation method Market Value
Actuarial assumptions:
Investment rate of return * 7.50%
Projected salary increases * 5.0%
* Includes inflation for cost-of-living
adjustment of 3%
28
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GENERAL FUND
General Fund - to account for resources traditionally associated with gov-
ernments which are not required to be accounted for in another fund.
VILLAGE OF OAK BROOK,ILLINOIS
STATEMENT OF REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCE-BUDGET AND ACTUAL
GENERAL FUND
Year Ended December 31, 1999
Variance
Favorable
Budget Actual (Unfavorable)
Revenues:
Intergovernmental $ 12,507,560 $ 12,293,240 $ (214,320)
Licenses and permits 339,410 432,724 93,314
Service charges 354,250 425,752 71,502
Fines and penalties 219,500 198,769 (20,731)
., Interest on investments 720,000 692,422 (27,578)
Miscellaneous 530,225 665,606 135,381
Total revenues 14,670,945 14,708,513 37,568
Expenditures-Current:
General government 6,655,915 4,032,865 2,623,050
Public safety 7,748,815 7,435,742 313,073
Public works 1,751,680 1,678,499 73,181
Culture and recreation 841,930 809,662 32,268
Total expenditures 16,998,340 13,956,768 3,041,572
Excess(deficiency)of revenues over expenditures (2,327,395) 751,745 3,079,140
Other financing sources(uses):
Operating transfers in 247,500 247,500 -
Operating transfers(out) (139,300) (139,300) -
108,200 108,200 -
Excess (deficiency)of revenues and other
financing sources over expenditures
and other financing uses $ (2,219,195) 859,945 $ 3,079,140
Fund balance:
Beginning 18,639,027
Ending $ 19,498,972
29
VILLAGE OF OAK BROOK,ILLINOIS
SCHEDULE OF REVENUES-BUDGET AND ACTUAL
GENERAL FUND
Year Ended December 31, 1999
Variance
Favorable
Budget Actual (Unfavorable)
Intergovernmental: �.
Municipal sales tax $ 11,487,000 $ 11,204,642 $ (282,358)
Illinois state income tax 727,495 774,248 46,753
Corporate personal property replacement taxes 199,065 225,300 26,235
York Township road and bridge tax 94,000 89,050 (4,950)
12,507,560 12,293,240 (214,320)
Licenses and permits 339,410 432,724 93,314
Service charges 354,250 425,752 71,502
Fines and penalties 219,500 198,769 (20,731)
Interest on investments 720,000 692,422 (27,578)
Miscellaneous:
Franchise/infrastructure maintenance fees 461,000 571,515 110,515
Other 69,225 94,091 24,866
2,163,385 2,415,273 251,888
Total revenues $ 14,670,945 $ 14,708,513 $ 37,568
r
w
i
30
VILLAGE OF OAK BROOK,ILLINOIS
SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL
GENERAL FUND
Year Ended December 31, 1999
Variance
Favorable
Budget Actual (Unfavorable)
General government:
Legislative and general management:
Board of trustees:
Personnel $ 72,695 $ 67,624 $ 5,071
Materials and supplies 1,595 1,518 77
Operation and contractual 120,230 58,525 61,705
194,520 127,667 66,853
Village clerk:
Personnel 127,370 105,923 21,447
Materials and supplies 2,690 2,685 5
Operation and contractual 37,750 13,643 24,107
Capital 15,490 15,488 2
183,300 137,739 45,561
Legal:
Personnel 113,700 113,698 2
Materials and supplies 3,350 2,628 722
_ Operation and contractual 48,815 32,751 16,064
165,865 149,077 16,788
General management:
Personnel 273,805 273,804 1
Materials and supplies 2,350 1,792 558
Operation and contractual 1,480 1,274 206
277,635 276,870 765
Human resources:
Personnel 55,435 54,811 624
Materials and supplies 2,330 2,327 3
Operation and contractual 80,870 63,598 17,272
13 8,63 5 120,736 17,899
Risk management:
Personnel 32,335 29,607 2,728
Operation and contractual 422,000 404,189 17,811
454,335 433,796 20,539
(continued)
31
Y
VILLAGE OF OAK BROOK,ILLINOIS
SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL(Continued)
GENERAL FUND
Year Ended December 31, 1999
Variance
Favorable ...
Budget Actual (Unfavorable)
General government: (continued)
Legislative and general management: (continued)
Emergency management:
Personnel $ 6,965 $ 6,963 $ 2
Materials and supplies 425 422 3
Operation and contractual 17,360 17,356 4
Capital 7,040 7,040 -
31,790 31,781 9
General services:
Personnel 44,030 43,799 231
Materials and supplies 54,960 54,958 2
Operation and contractual 166,445 166,443 2
d
Capital 55,005 3,610 51,395
320,440 268,810 51,630
Purchasing: +
Personnel 92,725 92,720 5
Materials and supplies 2,220 1,849 371
Operation and contractual 670 70 600
95,615 94,639 976
Information systems:
Personnel 200,195 200,193 2
Materials and supplies 18,500 18,498 2
Operation and contractual 126,115 126,114 1
Capital 292,835 269,223 23,612
637,645 614,028 23,617
Village communications center:
Personnel 501,085 479,445 21,640
Materials and supplies 9,840 7,372 2,468
Operation and contractual 11,370 9,666 1,704
Capital 25,200 13,240 11,960
547,495 509,723 37,772 --
Total legislative and
general management 3,047,275 2,764,866 282,409
(continued)
32
VILLAGE OF OAK BROOK,ILLINOIS
SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL(Continued)
GENERAL FUND
Year Ended December 31, 1999
Variance
Favorable
Budget Actual (Unfavorable)
r..
General government: (continued)
Financial services:
Financial services management:
Personnel $ 126,725 $ 126,722 $ 3
Materials and supplies 2,305 953 1,352
Operation and contractual 38,865 17,360 21,505
'- 167,895 145,035 22,860
Accounting and reporting:
Personnel 235,535 222,144 13,391
Materials and supplies 7,715 7,712 3
Operation and contractual 28,085 22,858 5,227
271,335 252,714 18,621
Total financial services 439,230 397,749 41,481
'- Engineering and capital projects:
Engineering:
Personnel 323,790 323,790 -
Materials and supplies 2,400 1,595 805
Operation and contractual 18,695 17,689 1,006
Capital 7,500 - 7,500
352,385 343,074 9,311
Municipal building improvements:
Operation and contractual 34,025 13,561 20,464
Capital 247,000 163,253 83,747
281,025 176,814 104,211
-- Traffic and lighting improvements:
Capital 6,000 4,070 1,930
Library building project:
Operation and contractual 307,805 307,801 4
Capital 1,492,195 - 1,492,195
1,800,000 307,801 1,492,199
Municipal building project
Operation and contractual 230,000 38,491 191,509
Capital 500,000 - 500,000
730,000 38,491 691,509
Total engineering and
capital projects 3,169,410 870,250 2,299,160
Total general government 6,655,915 4,032,865 2,623,050
(continued)
33
VILLAGE OF OAK BROOK,ILLINOIS
SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL(Continued)
GENERAL FUND
Year Ended December 31, 1999 --
Variance
Favorable
Budget Actual (Unfavorable)
Public safety: -
Police department:
Police services management:
Personnel $ 254,595 $ 244,697 $ 9,898
Materials and supplies 5,125 4,654 471
Operation and contractual 56,075 43,781 12,294
315,795 293,132 22,663
Police field services:
Personnel 2,153,755 2,153,754 1
Materials and supplies 46,485 46,484 1
Operation and contractual 260,420 260,416 4
Capital 88,565 88,563 2
2,549,225 2,549,217 8
Police general support: -
Personnel 230,855 211,191 19,664
Materials and supplies 15,925 14,325 1,600
Operation and contractual 4,700 1,397 3,303
251,480 226,913 24,567
Police investigations: _
Personnel 475,655 355,384 120,271
Materials and supplies 8,500 5,591 2,909
Operation and contractual 26,355 23,946 2,409
510,510 384,921 125,589
(continued)
0
34
VILLAGE OF OAK BROOK,ILLINOIS
SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL(Continued)
GENERAL FUND
Year Ended December 31, 1999
Variance
Favorable
Budget Actual (Unfavorable)
Public safety: (continued)
Police department: (continued)
Police records:
Personnel $ 113,555 $ 102,542 $ 11,013
Materials and supplies 8,350 8,347 3
Operation and contractual 5,550 4,730 820
127,455 115,619 11,836
Public relations/crime prevention:
Personnel 115,460 115,459 1
Materials and supplies 5,320 5,317 3
Operation and contractual 5,300 5,298 2
Capital 13,345 13,345 -
139,425 139,419 6
Total police department 3,893,890 3,709,221 184,669
Fire and community development:
Fire and ems general salaries:
Personnel 2,283,055 2,283,051 4
Fire service management:
Personnel 194,080 172,107 21,973
Materials and supplies 3,325 1,525 1,800
Operation and contractual 10,205 5,631 4,574
207,610 179,263 28,347
Fire suppression:
Personnel 36,200 31,059 5,141
Materials and supplies 43,420 43,419 1
Operation and contractual 231,630 231,628 2
Capital 157,245 151,641 5,604
468,495 457,747 10,748
Emergency medical services:
Personnel 42,445 28,883 13,562
Materials and supplies 10,900 8,892 2,008
Operation and contractual 319,735 288,483 31,252
Capital 5,000 4,954 46
378,080 331,212 46,868
(continued)
35
VILLAGE OF OAK BROOK,ILLINOIS
SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL(Continued)
GENERAL FUND
Year Ended December 31, 1999
Variance
Favorable
Budget Actual (Unfavorable)
Public safety: (continued)
Fire and community development: (continued)
Code enforcement:
Personnel $ 312,660 $ 286,371 $ 26,289
Materials and supplies 4,925 4,923 2
Operation and contractual 53,165 53,163 2
Capital 1,200 - 1,200 --
371,950 344,457 27,493
Planning and zoning:
Personnel 123,010 108,073 14,937
Materials and supplies 1,775 1,772 3
Operation and contractual 20,950 20,946 4 ,.
145,735 130,791 14,944
Total fire and code enforcement 3,854,925 3,726,521 128,404 _
Total public safety 7,748,815 7,435,742 313,073
Public works:
Public works management:
Personnel 235,895 235,891 4 _
Materials and supplies 2,470 2,469 1
Operation and contractual 12,170 12,167 3
250,535 250,527 8
Mosquito control:
Operation and contractual 54,040 40,768 13,272
Building and grounds:
Personnel 60,320 60,317 3 _
Materials and supplies 22,680 22,676 4
Operation and contractual 129,560 129,557 3
Capital 43,015 43,015 -
255,575 255,565 10
(continued)
36
VILLAGE OF OAK BROOK,ILLINOIS
SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL(Continued)
GENERAL FUND
Year Ended December 31, 1999
Variance
Favorable
Budget Actual (Unfavorable)
�. Public works: (continued)
Streets-General salaries:
Personnel $ 532,800 $ 532,787 $ 13
Materials and supplies 4,370 3,299 1,071
Operation and contractual 4,180 2,665 1,515
541,350 538,751 2,599
Street maintenance:
Materials and supplies 19,300 11,541 7,759
- Operation and contractual 93,540 91,072 2,468
Capital 2,500 1,810 690
115,340 104,423 10,917
Traffic and lighting maintenance:
Materials and supplies 10,640 10,638 2
Operation and contractual 116,940 116,936 4
Capital 16,385 16,385 -
143,965 143,959 6
Snow removal:
Personnel 40,430 38,091 2,339
Materials and supplies 44,000 42,138 1,862
Operation and contractual 40,985 39,983 1,002
Capital 2,840 2,840 -
128,255 123,052 5,203
Drainage maintenance:
Materials and supplies 3,955 3,955 -
Operation and contractual 48,355 45,849 2,506
52,310 49,804 2,506
Forestry:
Personnel 19,550 4,687 14,863
Materials and supplies 1,310 1,268 42
-- Operation and contractual 140,735 120,508 20,227
161,595 126,463 35,132
Safety pathway maintenance:
Materials and supplies 9,055 9,052 3
Operation and contractual 39,660 36,135 3,525
-- 48,715 45,187 3,528
Total public works 1,751,680 1,678,499 73,181
(continued)
37
VILLAGE OF OAK BROOK,ILLINOIS
SCHEDULE OF EXPENDITURES-BUDGET AND ACTUAL(Continued)
GENERAL FUND
Year Ended December 31, 1999 -
Variance
Favorable
Budget Actual (Unfavorable)
Culture and recreation:
Library general operations:
Personnel $ 239,065 $ 235,717 $ 3,348
Materials and supplies 16,350 11,704 4,646
Operation and contractual 64,420 53,334 11,086
Capital 2,265 2,265 -
322,100 303,020 19,080 --
Library technical services:
Personnel 67,775 63,251 4,524 -
Materials and supplies 8,690 5,448 3,242
Operation and contractual 4,210 4,207 3
80,675 72,906 7,769 -
Library reference and adult services:
Personnel 107,615 107,613 2 -
Materials and supplies 95,000 94,769 231
Operation and contractual 4,920 4,791 129
207,535 207,173 362 -
Library youth services:
Personnel 75,915 71,401 4,514 -
Materials and supplies 30,000 29,460 540
Operation and contractual 2,700 2,698 2
108,615 103,559 5,056 -
Community events:
Operation and contractual 123,005 123,004 1 _
Total culture and recreation 841,930 809,662 32,268 -
Total expenditures $ 16,998,340 $ 13,956,768 $ 3,041,572
38
SPECIAL REVENUE FUNDS
Hotel/Motel Tax Fund - to account for local hotel/motel tax receipts re-
stricted for promoting tourism and conventions in the Village.
Motor Fuel Tax Fund - to account for State Gasoline Tax Allocations re-
stricted for local roadway program expenditures.
Foreign Fire Insurance Tax Fund - to account for Foreign Fire Insurance
revenue restricted for the purchase of items for the benefit of the fire
department.
VILLAGE OF OAK BROOK,ILLINOIS
COMBINING BALANCE SHEET
'— SPECIAL REVENUE FUNDS
December 31, 1999
Foreign Fire
Hotel/Motel Motor Fuel Insurance
ASSETS Tax Tax Tax Total
Cash and investments $ 437,413 $ 683,107 $ 60,203 $ 1,180,723
Receivables:
Allotments - 23,806 - 23,806
Accrued interest 1,862 3,067 161 5,090
Other,hotel/motel tax 33,538 - - 33,538
Total assets $ 472,813 $ 709,980 $ 60,364 $ 1,243,157
LIABILITIES AND FUND BALANCES
Liabilities
Accounts payable $ 81,300 $ - $ - $ 81,300
Fund balances
Unreserved 391,513 709,980 60,364 1,161,857
Total liabilities and
fund balances $ 472,813 $ 709,980 $ 60,364 $ 1,243,157
39
VILLAGE OF OAK BROOK,ILLINOIS
COMBINING STATEMENT OF REVENUES,EXPENDITURES AND _
CHANGES IN FUND BALANCES-BUDGET AND ACTUAL
SPECIAL REVENUE FUNDS
Year Ended December 31, 1999 _
Hotel/Motel Tax
Variance
Favorable
Budget Actual (Unfavorable)
Revenues:
Intergovernmental $ - $ - $ -
Hotel/motel taxes 319,700 338,951 19,251 _
Interest on investments 16,250 18,490 2,240
Total revenues 335,950 357,441 21,491
Expenditures-Current: _
Public safety - - -
Culture and recreation 360,000 334,699 25,301
Total expenditures 360,000 334,699 25,301
Excess(deficiency)of revenues
over expenditures (24,050) 22,742 46,792
Other financing sources(uses),
operating transfers(out) - - -
Excess(deficiency)of revenues and other financing sources over
expenditures and other financing uses $ (24,050) 22,742 $ 46,792
Fund balances:
Beginning 368,771
Ending $ 391,513
40
Motor Fuel Tax Foreign Fire Insurance Tax Totals
Variance Variance Variance
Favorable Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$ 217,100 $ 235,025 $ 17,925 $ 27,800 $ 27,419 $ (381) $ 244,900 $ 262,444 $ 17,544
- - - - - - 319,700 338,951 19,251
20,000 27,071 7,071 2,000 1,697 (303) 38,250 47,258 9,008
237,100 262,096 24,996 29,800 29,116 (684) 602,850 648,653 45,803
- - - 23,000 8,076 14,924 23,000 8,076 14,924
- - - - 360,000 334,699 25,301
- - - 23,000 8,076 14,924 383,000 342,775 40,225
237,100 262,096 24,996 6,800 21,040 14,240 219,850 305,878 86,028
�- (10,000) - 10,000 - - - (10,000) - 10,000
-- $ 227,100 262,096 $ 34,996 $ 6,800 21,040 $ 14,240 $ 209,850 305,878 $ 96,028
447,884 39,324 855,979
$ 709,980 $ 60,364 $1,161,857
41
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SHd2U UNLU AHVZHIHdOHd
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 Sports Core.
a
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i
VILLAGE OF OAK BROOK,ILLINOIS
COMBINING BALANCE SHEET
ENTERPRISE FUNDS
December 31, 1999 --
Waterworks Sports
ASSETS System Core Total
Current Assets
Cash and investments $ 5,144,386 $ 182,557 $ 5,326,943
Receivables,net of allowances for _
uncollectibles,where applicable:
Billed water sales 94,410 - 94,410
Unbilled water sales 314,705 - 314,705
Accrued interest 24,091 - 24,091
Other 4,195 37,011 41,206
Inventories - 166,202 166,202
Total current assets 5,581,787 385,770 5,967,557
Restricted Assets:
Cash and investments - 155,052 155,052
Fixed Assets
Property,plant and equipment 17,538,614 16,353,853 33,892,467
Accumulated depreciation (7,130,597) (3,494,932) (10,625,529)
10,408,017 12,85 8,921 23,266,938
Other Assets
Water purchase rights 1,675,593 - 1,675,593
Total assets $ 17,665,397 $ 13,399,743 $ 31,065,140 _
42
Waterworks Sports
LIABILITIES AND FUND EQUITY System Core Total
Current Liabilities
Accounts payable $ 271,156 $ 314,717 $ 585,873
Accrued payroll 12,832 22,101 34,933
Accrued interest payable - 10,965 10,965
Compensated absences 14,598 22,231 36,829
Deposits payable - 24,100 24,100
Due to other funds - 1,253,732 1,253,732
Notes payable - 89,064 89,064
Installment contract payable - 65,000 65,000
Total current liabilities 298,586 1,801,910 2,100,496
Long-term Liabilities
Advances from other funds - 750,000 750,000
Installment contract payable - 755,000 755,000
- 1,505,000 1,505,000
Total liabilities 298,586 3,306,910 3,605,496
Fund Equity
Contributed capital - 11,025,590 11,025,590
Retained earnings:
Reserved-Golf surcharge - 155,052 155,052
Unreserved(deficit) 17,366,811 (1,087,809) 16,279,002
Total retained earnings 17,366,811 (932,757) 16,434,054
Total fund equity 17,366,811 10,092,833 27,459,644
Total liabilities and fund equity $ 17,665,397 $ 13,399,743 $ 31,065,140
43
VILLAGE OF OAK BROOK,ILLINOIS
COMBINING STATEMENT OF REVENUES,EXPENSES,
AND CHANGES IN RETAINED EARNINGS
ENTERPRISE FUNDS _
Year Ended December 31,1999
Waterworks Sports
System Core Total
Operating revenues:
Charges for services $ 3,573,694 $ 3,078,765 $ 6,652,459
Miscellaneous 57,833 - 57,833
Total operating revenues 3,631,527 3,078,765 6,710,292 +'
Operating expenses:
Operation of facilities 3,542,683 3,110,230 6,652,913
Depreciation and amortization 496,209 271,252 767,461
Total operating expenses 4,038,892 3,381,482 7,420,374
Operating income(loss) (407,365) (302,717) (710,082)
Nonoperating revenues(expenses):
Interest on investments 228,018 7,228 235,246
Interest expense - (15,995) (15,995)
Income(loss)before operating transfers (179,347) (311,484) (490,831)
Operating transfers in - 139,300 139,300 --
Operating transfers(out) (228,300) - (228,300)
Net income(loss) (407,647) (172,184) (579,831)
Retained earnings(deficit):
Beginning 17,774,458 (760,573) 17,013,885 �-
Ending $ 17,366,811 $ (932,757) $ 16,434,054
44
VILLAGE OF OAK BROOK,ILLINOIS
COMBINING STATEMENT OF CASH FLOWS
ENTERPRISE FUNDS
Year Ended December 31,1999
Waterworks Sports
System Core Total
Cash Flows from Operating Activities
Operating income(loss) $ (407,365)$ (302,717)$ (710,082)
Adjustments to reconcile operating income(loss)to net
cash provided by operating activities:
Depreciation and amortization 496,209 271,252 767,461
Changes in assets and liabilities:
Accounts receivable 26,818 - 26,818
Other receivable (1,982) 15,874 13,892
Inventories - (25,464) (25,464)
Accounts payable 89,637 252,845 342,482
Accrued payroll and compensated absences 4,616 9,597 14,213
Accrued interest payable - 10,965 10,965
Deposits payable - 750 750
Net cash provided by operating activities 207,933 233,102 441,035
Cash Flows from Noncapital Financing Activities
Borrowings from other funds - 1,277,836 1,277,836
Operating transfers in - 139,300 139,300
Operating transfers(out) (228,300) - (228,300)
Net cash provided by(used in)
noncapital financing activities (228,300) 1,417,136 1,188,836
Cash Flows from Capital and Related Financing Activities
Purchase of fixed assets (615,161) (2,250,541) (2,865,702)
Proceeds from notes payable - 93,882 93,882
Principal paid on notes payable - (122,521) (122,521)
Interest paid on notes payable - (15,995) (15,995)
Proceeds from installment contract payable - 820,000 820,000
Net cash(used in)capital and
related financing activities (615,161) (1,475,175) (2,090,336)
Cash Flows from Investing Activities
Investment purchases (1,141,202) (77,859) (1,219,061)
Investment maturities 200,000 - 200,000
Interest received on investments 248,380 8,037 256,417
Net cash(used in)investing activities (692,822) (69,822) (762,644)
Net increase(decrease)in cash and cash equivalents (1,328,350) 105,241 (1,223,109)
Cash and cash equivalents:
Beginning 3,549,005 77,316 3,626,321
Ending $ 2,220,655 $ 182,557 $ 2,403,212
_ Reconciliation of Cash and Cash Equivalents
to Combining Balance Sheet
Cash and cash equivalents $ 2,220,655 $ 182,557 $ 2,403,212
Investments(including$155,052 of restricted assets) 2,923,731 155,052 3,078,783
$ 5,144,386 $ 337,609 $ 5,481,995
Supplemental Schedule of Noncash Investing
and Financing Activities:
Appreciation(depreciation)in the
fair value of investments $ (16,189)$ (809) $ (16,998)
45
VILLAGE OF OAK BROOK,ILLINOIS
STATEMENT OF REVENUES,EXPENSES,AND CHANGES IN "
RETAINED EARNINGS-BUDGET AND ACTUAL
WATERWORKS SYSTEM FUND
Year Ended December 31, 1999 "—
Variance
Favorable
Budget Actual (Unfavorable)
Operating revenues:
Charges for services:
Water sales $ 3,238,200 $ 3,369,694 $ 131,494
Unmetered sales 5,000 10,107 5,107
Water tap on charges 60,000 103,381 43,381
Fire service charges - 71,119 71,119
Meter fees and special services 28,100 19,393 (8,707)
Miscellaneous 39,000 57,833 18,833
Total operating revenues 3,370,300 3,631,527 261,227
Operating expenses:
Operation of facilities 3,564,465 3,542,683 21,782
Depreciation and amortization - 496,209 (496,209)
Total operating expenses 3,564,465 4,038,892 (474,427)
Operating income(loss) (194,165) (407,365) (213,200)
Nonoperating revenues:
Interest on investments 245,000 228,018 (16,982)
Income(loss)before operating transfers 50,835 (179,347) (230,182)
Operating transfers(out) (228,300) (228,300) -
Net income(loss) $ (177,465) (407,647) $ (230,182)
Retained earnings:
Beginning 17,774,458
Ending $ 17,366,811
46 —.
VILLAGE OF OAK BROOK,ILLINOIS
SCHEDULE OF OPERATING EXPENSES-BUDGET AND ACTUAL
WATERWORKS SYSTEM FUND
Year Ended December 31, 1999
Variance
Favorable
Budget Actual (Unfavorable)
Operation of facilities:
Public works:
Water operations:
Personnel $ 404,270 $ 404,265 $ 5
Materials and supplies 76,405 76,404 1
Operation and contractual 3,083,790 3,062,014 21,776
Total water operations 3,564,465 3,542,683 21,782
Capital improvements:
Capital 672,890 615,161 57,729
Less: items capitalized (672,890) (615,161) (57,729)
Total capital improvements - - -
Total operation of facilities 3,564,465 3,542,683 21,782
Depreciation and amortization:
Depreciation - 427,349 (427,349)
Amortization - 68,860 (68,860)
Total depreciation and amortization - 496,209 (496,209)
Total operating expenses $ 3,564,465 $ 4,038,892 $ (474,427)
47
VILLAGE OF OAK BROOK,ILLINOIS
SCHEDULE OF PROPERTY,PLANT AND EQUIPMENT
AND ACCUMULATED DEPRECIATION
WATERWORKS SYSTEM FUND
Year Ended December 31, 1999
Property,Plant, and Equipment
Additions
Balance and Balance —
January 1 Transfers Disposals December 31
Land and land rights $ 215,800 $ - $ - $ 215,800 --.
Service of supply plant-
Wells and springs 314,753 - - 314,753
Structure and improvements 692,141 26,414 - 718,555
Electrical pumping equipment 437,170 146,000 - 583,170
Water treatment equipment 8,149 - - 8,149
Distribution,reservoirs,mains
and standpipes 14,014,530 284,263 - 14,298,793
Meters and meter installation 893,480 153,574 - 1,047,054
Hydrants 181,472 - - 181,472
Office furniture and equipment 20,763 - - 20,763
Tools, shop and garage equipment 20,189 - - 20,189
Laboratory equipment 1,070 - - 1,070
Miscellaneous equipment 112,533 4,910 - 117,443
Intangible plant-Organization 11,403 - - 11,403
$ 16,923,453 $ 615,161 $ - $ 17,538,614
48
~
Rate of
Depreciation Accumulated Depreciation
or Additions
Amortization Balance and Balance Net Asset
(Years) January 1 Transfers Disposals December 31 Value
$ - $ - $ - $ - $ 215,800
40 196,630 7,869 - 204,499 110,254
40 146,745 17,633 - 164,378 554,177
40 162,474 12,754 - 175,228 407,942
10 8,149 - - 8,149 -
40 5,340,407 353,916 - 5,694,323 8,604,470
~ 15 583,957 28,471 - 612,428 434,626
40 101,023 4,537 - 105,560 75,912
10 20,763 - - 20,763 -
5 19,338 663 - 20,001 188
5 1,070 - - 1,070 -
5 111,289 1,506 - 112,795 4,648
5 11,403 - - 11,403 -
$ 6,703,248 $ 427,349 $ - $ 7,130,597 $ 10,408,017
49
VILLAGE OF OAK BROOK,ILLINOIS
r
STATEMENT OF REVENUES,EXPENSES,AND CHANGES IN
RETAINED EARNINGS-BUDGET AND ACTUAL
SPORTS CORE FUND
Year Ended December 31, 1999
Variance --
Favorable
Budget Actual (Unfavorable)
Operating revenues:
Charges for services:
Golf $ 2,094,165 $ 1,890,904 $ (203,261)
Bath and tennis 1,072,485 1,187,861 115,376
Total operating revenues 3,166,650 3,078,765 (87,885)
Operating expenses:
Golf club 1,483,170 1,327,849 155,321
Bath and tennis 1,789,185 1,782,381 6,804 _
Depreciation - 271,252 (271,252)
Total operating expenses 3,272,355 3,381,482 (109,127)
Operating income(loss) (105,705) (302,717) (197,012)
Nonoperating revenues(expenses): r
Interest on investments 56,500 7,228 (49,272)
Interest expense (22,740) (15,995) 6,745
Income(loss)before operating transfers (71,945) (311,484) (239,539)
Operating transfers in 139,300 139,300
Net income(loss) $ 67,355 (172,184) $ (239,539)
Retained earnings(deficit):
Beginning (760,573)
Ending $ (932,757)
50
VILLAGE OF OAK BROOK,ILLINOIS
_ SCHEDULE OF OPERATING REVENUES-BUDGET AND ACTUAL
SPORTS CORE FUND
Year Ended December 31, 1999
Variance
Favorable
Budget Actual (Unfavorable)
Charges for services:
Golf-
Fees
olfFees $ 1,273,890 $ 1,277,387 $ 3,497
Golf surcharge 70,500 71,945 1,445
Memberships 261,300 267,350 6,050
Merchandise sales 212,675 124,201 (88,474)
Food sales 117,100 50,478 (66,622)
Beverage sales 158,700 99,543 (59,157)
2,094,165 1,890,904 (203,261)
Bath and tennis:
Fees 223,140 196,094 (27,046)
Memberships 233,645 197,117 (36,528)
Merchandise sales 1,000 1,326 326
Food sales 417,900 528,755 110,855
Beverage sales 144,900 194,675 49,775
Miscellaneous 51,900 69,894 17,994
1,072,485 1,187,861 115,376
Total operating revenues $ 3,166,650 $ 3,078,765 $ (87,885)
1
51
VILLAGE OF OAK BROOK,ILLINOIS
SCHEDULE OF OPERATING EXPENSES-BUDGET AND ACTUAL
SPORTS CORE FUND
Year Ended December 31, 1999
Variance
Favorable
Budget Actual (Unfavorable)
Operations-Golf club: -
General operations:
Personnel $ 310,785 $ 310,781 $ 4
Materials and supplies 185,690 154,575 31,115 -
Operation and contractual 124,550 110,202 14,348
621,025 575,558 45,467
Range operations:
Personnel 39,520 38,237 1,283
Materials and supplies 11,000 10,174 826 -
Operation and contractual 2,200 1,304 896
52,720 49,715 3,005
-
Golf cart operations:
Personnel 20,905 20,904 1
Materials and supplies 1,075 1,071 4
Operation and contractual 56,610 56,608 2
78,590 78,583 7
Golf course maintenance:
Personnel 354,465 354,465 -
Materials and supplies 120,640 110,963 9,677 -
Operation and contractual 37,160 37,159 1
512,265 502,587 9,678
Golf course lounge operations:
Personnel 97,960 45,287 52,673
Materials and supplies 118,610 75,235 43,375
Operation and contractual 2,000 884 1,116
218,570 121,406 97,164
Total golf club 1,483,170 1,327,849 155,321
(continued)
52 -
VILLAGE OF OAK BROOK,ILLINOIS
SCHEDULE OF OPERATING EXPENSES-BUDGET AND ACTUAL (Continued)
SPORTS CORE FUND
Year Ended December 31, 1999
Variance
Favorable
Budget Actual (Unfavorable)
Operations-Bath and tennis:
General operations:
Personnel $ 357,680 $ 357,678 $ 2
Materials and supplies 28,130 28,130 -
Operation and contractual 112,975 112,973 2
498,785 498,781 4
Swimming operations:
Personnel 109,350 109,348 2
Materials and supplies 19,325 19,325 -
Operation and contractual 25,415 25,415 -
'- 154,090 154,088 2
Tennis operations-Outdoor:
Personnel 76,070 76,066 4
Materials and supplies 12,060 12,059 1
Operation and contractual 14,235 14,234 1
'- 102,365 102,359 6
Tennis operations-Indoor:
Personnel 83,545 83,543 2
Materials and supplies 13,565 13,564 1
Operation and contractual 48,665 48,665 -
145,775 145,772 3
(continued)
53
VILLAGE OF OAK BROOK,ILLINOIS
SCHEDULE OF OPERATING EXPENSES-BUDGET AND ACTUAL (Continued)
SPORTS CORE FUND
Year Ended December 31, 1999
Variance
Favorable
Budget Actual (Unfavorable)
Operations-Bath and tennis: (continued) _
Food and beverage:
Personnel $ 389,260 $ 388,165 $ 1,095
Materials and supplies 336,270 339,102 (2,832) —
Operation and contractual 162,640 154,114 8,526
888,170 881,381 6,789
Total bath and tennis 1,789,185 1,782,381 6,804
Capital improvements: _
Capital outlay 2,331,665 2,250,541 81,124
Less: items capitalized (2,331,665) (2,250,541) (81,124)
Total capital improvements - - -
Depreciation - 271,252 (271,252)
Total operating expenses $ 3,272,355 $ 3,381,482 $ (109,127)
54
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r
VILLAGE OF OAK BROOK,ILLINOIS
SCHEDULE OF PROPERTY,PLANT AND EQUIPMENT
AND ACCUMULATED DEPRECIATION
SPORTS CORE FUND
Year Ended December 31, 1999
Property,Plant and Equipment
Additions
Balance and Balance
January 1 Transfers Disposals December 31
Land $ 8,292,249 $ - $ - $ 8,292,249 —
Land improvements-Golf course 1,726,743 44,507 - 1,771,250
Land improvements-Bath and tennis 151,611 - - 151,611
Buildings-Golf 726,184 1,253,974 - 1,980,158 —
Buildings-Bath and tennis 2,132,836 14,706 - 2,147,542
Machinery and equipment-Golf 868,255 87,304 (69,440) 886,119
Machinery and equipment-Bath and tennis 133,626 19,332 (3,704) 149,254
Computer equipment 21,367 - - 21,367
Construction in progress-Golf 96,270 741,644 - 837,914
Construction in progress-Bath and tennis 14,705 74,737 - 89,442
Vehicles 12,610 14,337 - 26,947
$ 14,176,456 $ 2,250,541 $ (73,144) $ 16,353,853 -
-
r
55
Rate of
Depreciation Accumulated Depreciation
or Additions
Amortization Balance and Balance Net Asset
(Years) January 1 Transfers Disposals December 31 Value
$ - $ - $ - $ - $ 8,292,249
25 1,006,084 70,392 - 1,076,476 694,774
10 151,611 - - 151,611 -
40 263,669 33,055 - 296,724 1,683,434
40 1,192,397 88,173 - 1,280,570 866,972
'— 10 567,094 60,950 (69,440) 558,604 327,515
10 82,334 17,624 (3,704) 96,254 53,000
5 21,367 - - 21,367 -
- - - - - 837,914
- - - - - 89,442
4 12,268 1,058 - 13,326 13,621
$ 3,296,824 $ 271,252 $ (73,144) $ 3,494,932 $ 12,858,921
56
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r
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.
VILLAGE OF OAK BROOK,ILLINOIS
COMBINING BALANCE SHEET
_ INTERNAL SERVICE FUNDS
December 31, 1999
Self- Capital
ASSETS Insurance Garage Replacement Total
Current Assets
Cash and investments $ 303,760 $ 179,430 $ 2,222,334 $ 2,705,524
Receivables,
accrued interest 3,091 28 11,826 14,945
Inventories - 41,975 - 41,975
Total current assets 306,851 221,433 2,234,160 2,762,444
Fixed Assets
Equipment - 126,812 3,661,877 3,788,689
Accumulated depreciation - (96,783) (1,769,238) (1,866,021)
Total fixed assets - 30,029 1,892,639 1,922,668
Total assets $ 306,851 $ 251,462 $ 4,126,799 $ 4,685,112
LIABILITIES AND FUND EQUITY
Current Liabilities
Accounts payable $ 600 $ 21,685 $ - $ 22,285
Accrued payroll - 1,776 - 1,776
Compensated absences - 5,960 - 5,960
Claims payable 119,700 - - 119,700
Total liabilities 120,300 29,421 - 149,721
Fund Equity
Retained earnings,unreserved 186,551 222,041 4,126,799 4,535,391
Total liabilities and fund equity $ 306,851 $ 251,462 $ 4,126,799 $ 4,685,112
57
VILLAGE OF OAK BROOK,ILLINOIS
COMBINING STATEMENT OF REVENUES,EXPENSES AND
CHANGES IN RETAINED EARNINGS
INTERNAL SERVICE FUNDS
Year Ended December 31, 1999
Self- Capital
Insurance Garage Replacement Total
Operating revenues:
Charges for services $ 1,047,421 $ 332,100 $ 504,080 $ 1,883,601
Operating expenses:
Operation of garage - 271,001 - 271,001
Claims and insurance 1,169,979 - - 1,169,979
Depreciation - 12,500 282,023 294,523 _
Total operating expenses 1,169,979 283,501 282,023 1,735,503
Operating income(loss) (122,558) 48,599 222,057 148,098 _
Nonoperating revenues:
Interest on investments 12,102 7,905 104,067 124,074
Gain on sale of fixed assets - - 26,718 26,718
Income(loss)before operating transfers (110,456) 56,504 352,842 298,890
Operating transfers(out) - (19,200) - (19,200)
Net income(loss) (110,456) 37,304 352,842 279,690
Retained earnings:
Beginning 297,007 184,737 3,773,957 4,255,701
Ending $ 186,551 $ 222,041 $ 4,126,799 $ 4,5352391
i
58 —
VILLAGE OF OAK BROOK,ILLINOIS
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
Year Ended December 31, 1999
Self- Capital
Insurance Garage Replacement Total
Cash Flows From Operating Activities
Operating income(loss) $ (122,558) $ 48,599 $ 222,057 $ 148,098
Adjustments to reconcile operating income(loss)
to net cash provided by operating activities:
Depreciation - 12,500 282,023 294,523
Changes in assets and liabilities:
Accounts receivable - (28) - (28)
Inventories - (6,266) - (6,266)
Accounts payable 100 19,052 (23,167) (4,015)
Accrued payroll and compensated absences - 3,028 - 3,028
Claims payable 23,326 - - 23,326
-- Net cash provided by(used in)
operating activities (99,132) 76,885 480,913 458,666
Cash Flows From Noncapital Financing Activities
Operating transfers(out) - (19,200) - (19,200)
Net cash flows(used in)noncapital financing activities - (19,200) - (19,200)
Cash Flows From Capital and Related Financing Activities
Acquisition of equipment - (5,709) (589,286) (594,995)
Proceeds from sale of equipment - - 43,799 43,799
Net cash(used in)capital and
related financing activities - (5,709) (545,487) (551,196)
Cash Flows from Investing Activities
Investment purchases (10,388) - (466,261) (476,649)
Investment maturities 50,000 - - 50,000
Interest received on investments 12,633 7,905 114,004 134,542
Net cash provided by(used in)
investing activities 52,245 7,905 (352,257) (292,107)
Net increase(decrease)in cash and cash equivalents (46,887) 59,881 (416,831) (403,837)
Cash and cash equivalents:
Beginning 209,132 119,549 1,203,508 1,532,189
Ending $ 162,245 $ 179,430 $ 786,677 $ 1,128,352
Reconciliation of Cash and Cash Equivalents
to Combining Balance Sheet
Cash and cash equivalents $ 162,245 $ 179,430 $ 786,677 $ 1,128,352
Investments 141,515 - 1,435,657 1,577,172
$ 303,760 $ 179,430 $ 2,222,334 $ 2,705,524
Supplemental Schedule of Noncash Investing
and Financing Activities:
Appreciation(depreciation)in the
fair value of investments $ (912) $ - $ (7,942) $ (8,854)
59
VILLAGE OF OAK BROOK,ILLINOIS
STATEMENT OF REVENUES,EXPENSES AND CHANGES IN
RETAINED EARNINGS-BUDGET AND ACTUAL
SELF-INSURANCE FUND ..
Year Ended December 31, 1999
Variance
Favorable
Budget Actual (Unfavorable)
Operating revenues:
Charges for services $ 979,800 $ 1,047,421 $ 67,621
Operating expenses:
Claims and insurance:
Insurance and administration 188,585 185,879 2,706 _
Health claims 871,020 871,018 2
Dental claims 110,375 113,082 (2,707)
Total operating expenses 1,169,980 1,169,979 1
Operating income(loss) (190,180) (122,558) 67,622
Nonoperating revenues:
Interest on investments 20,000 12,102 (7,898)
Net income(loss) $ (170,180) (110,456) $ 59,724
Retained earnings:
Beginning 297,007
Ending $ 186,551
..o
60
VILLAGE OF OAK BROOK,ILLINOIS
STATEMENT OF REVENUES,EXPENSES AND CHANGES IN
RETAINED EARNINGS-BUDGET AND ACTUAL
GARAGE FUND
Year Ended December 31, 1999
_ Variance
Favorable
Budget Actual (Unfavorable)
Operating revenues:
Charges for services $ 332,100 $ 332,100 $ -
Operating expenses:
Garage operations:
Personnel 84,075 80,922 3,153
Materials and supplies 75,240 74,780 460
Operation and contractual 115,300 115,299 1
Capital 12,800 5,709 7,091
Less: items capitalized (12,800) (5,709) (7,091)
274,615 271,001 3,614
Depreciation - 12,500 (12,500)
Total operating expenses 274,615 283,501 (8,886)
Operating income 57,485 48,599 (8,886)
-- Nonoperating revenues:
Interest on investments 5,500 7,905 2,405
Income before operating transfers 62,985 56,504 (6,481)
Operating transfers(out) (19,200) (19,200) -
Net income $ 43,785 37,304 $ (6,481)
Retained earnings:
Beginning 184,737
Ending $ 222,041
61
VILLAGE OF OAK BROOK,ILLINOIS
STATEMENT OF REVENUES,EXPENSES AND CHANGES IN
RETAINED EARNINGS-BUDGET AND ACTUAL
CAPITAL REPLACEMENT FUND
Year Ended December 31, 1999
Variance
Favorable
Budget Actual (Unfavorable)
Operating revenues:
Charges for services $ 504,080 $ 504,080 $ - —
Operating expenses:
Capital 711,300 589,286 122,014
Less: items capitalized (711,300) (589,286) (122,014)
Depreciation - 282,023 (282,023) _
Total operating expenses - 282,023 (282,023)
Operating income 504,080 222,057 (282,023)
Nonoperating revenues:
Interest on investments 120,000 104,067 (15,933)
Gain on sale of fixed assets 15,000 26,718 11,718
Net income $ 639,080 352,842 $ (286,238)
Retained earnings:
Beginning 3,773,957
Ending $ 42126,799
62
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
COMBINING STATEMENT OF PLAN NET ASSETS
PENSION TRUST FUNDS
December 31, 1999
Police Firefighters'
ASSETS Pension Pension Total
Cash and investments $ 19,357,548 $ 18,091,318 $ 37,448,866
Accrued.interest receivable 184,534 122,414 306,948
Total assets 19,542,082 18,213,732 37,755,814
LIABILITIES
Accounts payable - 10,329 10,329
Net assets held in trust for pension benefits $ 19,542,082 $ 18,203,403 $ 37,745,485
63
VILLAGE OF OAK BROOK,ILLINOIS
COMBINING STATEMENT OF CHANGES IN PLAN NET ASSETS
PENSION TRUST FUNDS
Year Ended December 31, 1999
Police Firefighters' —
Pension Pension Total
Additions
Contributions:
Employer $ 69,674 $ 71,334 $ 141,008
Plan members 193,537 156,810 350,347
Total contributions 263,211 228,144 491,355
Investment income:
Net depreciation in fair value of investments (1,060) (99,122) (100,182)
Interest 1,021,185 1,415,014 2,436,199
Net investment income 1,020,125 1,315,892 2,336,017 -_
Total additions 1,283,336 1,544,036 2,827,372
Deductions
Benefits and refunds 574,223 645,776 1,219,999
Administrative expenses 71,179 59,531 130,710
Total deductions 645,402 705,307 1,350,709
Net increase 637,934 838,729 1,476,663 _
Net assets held in trust for pension benefits:
Beginning 18,904,148 17,364,674 36,268,822
Ending $ 19,542,082 $ 18,203,403 $ 37,745,485
—
64
VILLAGE OF OAK BROOK,ILLINOIS
_ STATE."WENT OF CHANGES IN PLAN NET ASSETS-BUDGET AND ACTUAL
POLICE PENSION FUND
Year Ended December 31, 1999
Budget Actual Variance
Additions
Contributions:
Employer $ 221,455 $ 69,674 $ (151,781)
Plan member 199,400 193,537 (5,863)
Total contributions 420,855 263,211 (157,644)
Investment income:
—" Net depreciation in fair value of investments - (1,060) (1,060)
Interest 1,372,000 1,021,185 (350,815)
Net investment income 1,372,000 1,020,125 (351,875)
Total additions 1,792,855 1,283,336 (509,519)
•— Deductions
Benefits and refunds 598,300 574,223 24,077
Administrative expense 54,315 71,179 (16,864)
Total deductions 652,615 645,402 7,213
Net increase $ 1,140,240 637,934 $ (502,306)
Net assets held in trust for pension benefits:
Beginning 18,904,148
Ending $ 19,542,082
65
VILLAGE OF OAK BROOK,ILLINOIS
STATEMENT OF CHANGES IN PLAN NET ASSETS-BUDGET AND ACTUAL
FIREFIGHTERS' PENSION FUND
Year Ended December 31, 1999
Budget Actual Variance
Additions
Contributions:
Employer $ 190,590 $ 71,334 $ (119,256)
Plan member 131,030 156,810 25,780
Total contributions 321,620 228,144 (93,476)
Investment income:
Net depreciation in fair value of investments - (99,122) (99,122)
Interest 1,275,000 1,415,014 140,014
Net investment income 1,275,000 1,315,892 40,892
Total additions 1,596,620 1,544,036 (52,584) _
Deductions
Benefits and refunds 667,000 645,776 21,224 _
Administrative expense 74,545 59,531 15,014
Total deductions 741,545 705,307 36,238
Net increase $ 855,075 838,729 $ (16,346)
Net assets held in trust for pension benefits:
Beginning 17,364,674
Ending $ 18,2032403 _
66
SdIflouD ZIP aoDDV
GENERAL FIXED ASSETS ACCOUNT GROUP
General Fixed Assets Account Group - to account for fixed assets not ac-
counted for in Proprietary or Trust Funds.
VILLAGE OF OAK BROOK,ILLINOIS
_ SCHEDULE OF GENERAL FIXED ASSETS -BY SOURCE
GENERAL FIXED ASSETS ACCOUNT GROUP
December 31, 1999
General Fixed Assets
—' Land $ 616,829
Buildings and improvements 4,909,326
Other equipment 1,765,900
Computer equipment 1,197,294
$ 8,489,349
Investment in General Fixed Assets
Current revenues $ 6,304,526
Proceeds of indebtedness 1,659,881
Gifts 524,942
$ 8,489,349
67
VILLAGE OF OAK BROOK,ILLINOIS
SCHEDULE OF GENERAL FIXED ASSETS-
BY FUNCTION AND ACTIVITY
GENERAL FIXED ASSETS ACCOUNT GROUP
December 31, 1999
Buildings
and Other Computer
Function and Activity Land Improvements Equipment Equipment Totals ...
General government:
Board of trustees $ 616,829 $ 78,536 $ 2,862 $ - $ 698,227
Village clerk - - 19,716 - 19,716
General management - 2,508,726 52,802 - 2,561,528
General services - - 3,610 - 3,610
Emergency management - - 12,156 - 12,156
Village communication center - - 81,302 - 81,302
Purchasing and grants - - 941 - 941
i
Information services - - - 1,197,294 1,197,294
Finance and accounting - - 21,512 - 21,512
Engineering - - 30,487 - 30,487 _
616,829 2,587,262 225,388 1,197,294 4,626,773
Public safety:
Police department - 126,383 588,733 - 715,116
Fire department - 756,291 719,594 - 1,475,885
- 882,674 1,308,327 - 2,191,001
Public works:
Administrative - 682,410 6,538 - 688,948
Street maintenance - 208,328 145,319 - 353,647
Forestry - - 65,335 - 65,335
- 890,738 217,192 - 1,107,930
Culture and recreation:
Library - 548,652 14,993 - 563,645
$ 616,829 $ 4,909,326 $ 1,765,900 $ 1,197,294 $ 8,489,349
-
68
VILLAGE OF OAK BROOK,ILLINOIS
SCHEDULE OF CHANGES IN GENERAL FIXED ASSETS-
BY FUNCTION AND ACTIVITY
GENERAL FIXED ASSETS ACCOUNT GROUP
Year Ended December 31, 1999
Balance Balance
January 1 Additions Retirements December 31
General government:
Board of trustees $ 695,145 $ 3,082 $ - $ 698,227
Village clerk 4,228 15,488 - 19,716
General management 2,521,742 39,786 - 2,561,528
General services - 3,610 3,610
Emergency management 5,182 6,974 - 12,156
Village communication center 69,567 11,735 - 81,302
Purchasing and grants 941 - - 941
Information services 933,936 263,358 - 1,197,294
._ Financial services 21,512 - - 21,512
Engineering 30,487 - - 30,487
4,282,740 344,033 - 4,626,773
Public safety:
Police department 612,869 102,247 - 715,116
Fire department 1,324,007 151,878 - 1,475,885
1,936,876 254,125 - 2,191,001
_ Public works:
Administrative 688,948 - - 688,948
Street maintenance 136,457 217,190 - 353,647
Forestry 65,335 - - 65,335
890,740 217,190 - 1,107,930
_ Culture and recreation:
Library 253,578 310,067 - 563,645
$ 7,363,934 $ 1,125,415 $ - $ 8,489,349
69
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VILLAGE OF OAK BROOK,ILLINOIS
GENERAL GOVERNMENTAL EXPENDITURES BY FUNCTION
LAST TEN FISCAL YEARS
December 31, 1999
1991 1992 1993 *1993 1994 1995 1996 1997 1998 1999
General government $ 1,522,165 $ 1,697,019 $ 1,456,753 $ 914,394 $ 1,669,529 $ 2,329,107 $ 2,596,032 $ 3,402,007 $ 3,307,267 $ 4,032,865
Public safety 5,842,884 5,900,826 5,821,460 4,332,750 6,619,494 6,685,874 6,786,918 6,847,213 7,017,793 7,443,818
Public works 1,704,451 3,099,903 4,076,547 1,574,548 3,423,038 3,363,157 3,097,906 3,680,666 4,050,672 3,811,388
Culture and
recreation 278,085 412,685 418,978 264,471 462,781 539,734 726,820 1,010,800 1,056,802 1,144,361
Debt service 987,505 949,288 959,375 944,820 944,821 - - - - -
$ 9,730,598 $ 10,335,090 $ 12,059,721 $ 12,733,113 $ 8,030,983 $ 13,119,663 $ 12,917 872 $ 13,207,676 $ 15 432,534 $ 16,432,432
*During 1993 the Village changed its fiscal year-end from April 30 to December 31. This information is for the eight months ended December 31, 1993.
NOTE: Includes General,Special Revenue,Debt Service and Capital Projects Funds.
Data Source
Village Records
70
VILLAGE OF OAK BROOK,ILLINOIS
GENERAL REVENUES BY SOURCE
LAST TEN FISCAL YEARS
December 31, 1999
1991 1992 1993 *1993 1994 1995 1996 1997 1998 1999
Intergovernmental $ 7,294,865 $ 8,250,633 $ 10,248,950 $ 7,985,514 $ 11,218,902 $ 12,106,579 $ 12,149,759 $ 12,282,960 $ 12,251,058 $ 12,598,948
Property taxes 603,129 877,289 963,125 846,501 549,482 5,410 - - - -
Utility taxes - 1,098,386 2,239,243 1,648,740 1,572,193 1,873,147 1,956,984 1,989,147 1,692,113 1,715,573
Hotel/motel taxes 89,664 196,609 210,066 163,784 235,606 274,041 290,198 312,383 330,953 338,951
Licenses and permits 342,354 299,111 353,747 261,461 322,779 477,624 374,617 404,998 391,789 432,724
Service charges 371,368 338,453 584,727 498,440 293,743 336,146 423,139 305,137 364,650 425,752
Fines and penalties 196,640 176,868 238,858 135,419 280,339 220,593 211,809 214,086 222,239 198,769
Interest on
investment 376,261 221,019 173,404 171,420 426,127 713,992 784,652 983,733 1,043,142 849,568
Miscellaneous 453,184 82,512 81,625 189,205 233,836 253,327 296,482 246,490 603,548 665,606
$ 9,727,465 $ 11,540,880 $ 15,093,745 $ 11,900,484 $ 15,133,007 $ 16,260 859 $ 16 487,640 $ 16,738,934 $ 16,899,492 $ 17 225,891
*During 1993 the Village changed its fiscal year-end from April 30 to December 31. This information is for the eight months ended December 31, 1993.
NOTE: Includes General, Special Revenue,Debt Service and Capital Projects Funds.
Data Source
Village Records
71
VILLAGE OF OAK BROOK,ILLINOIS
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
December 31, 1999
Percent of
Tax Total Total Total Tax
Fiscal Levy Tax Tax Collections
Year Year Levy Collection to Tax Levy
1991 1989 $ 609,854 $ 602,304 98.76 %
1992 1990 814,693 854,988 104.95
1993 1991 842,077 840,958 99.87
*1993 1992 848,710 846,501 99.74
1994 1993 555,221 549,482 98.97
1995 1994 - - N/A
1996 1995 - - N/A
1997 1996 - - N/A
1998 1997 - - N/A
1999 1998 - - N/A
* During 1993 the Village changed its fiscal year-end from April 30 to December 31. This
information is for the eight months ended December 31, 1993.
Note: The Village has levied property taxes for debt service purposes only. The levies were abated by
$300,000 paid by the General Fund for 1984-1988,by $300,000 in 1989 paid for by the Debt Service
Fund, and by$290,000 paid for by the Debt Service Fund in 1993. All debt was retired in 1994.
Data Source
Village Records
72
VILLAGE OF OAK BROOK,ILLINOIS
ASSESSED AND ESTIMATED ACTUAL VALUE OF
TAXABLE PROPERTY(in thousands) _
LAST TEN LEVY YEARS
December 31, 1999
Real Property Ratio of Total _
Estimated Assessed/Total
Levy Actual Estimated
Year Assessed Value Actual Value
1989 $ 745,392 $ 2,258,764 33.00 %
1990 806,397 2,443,627 33.00
1991 855,836 2,593,442 33.00
1992 878,225 2,634,675 33.00
1993 875,114 2,625,341 33.00
1994 887,591 2,662,773 33.00
1995 905,788 2,717,364 33.00
1996 938,948 2,816,844 33.00 _
1997 972,447 2,917,341 33.00
1998 1,005,097 3,015,292 33.00
Data Source
County Clerk's Office
73
i r r r r r r l i l r i i r i r i 1 r
VILLAGE OF OAK BROOK, ILLINOIS
PROPERTY TAX RATES-DIRECT AND OVERLAPPING GOVERNMENTS
LAST TEN LEVY YEARS
December 31, 1999
1989 1990 1991 1992 1993 1994 1995 1996 1997 1998
Village of Oak Brook 0.0818 0.1044 0.0994 0.0977 0.0641 0.0000 0.0000 0.0000 0.0000 0.0000
Basic Town 0.9311 0.8708 0.8354 0.8171 0.8348 0.8089 0.7141 0.6095 0.6072 0.5834
Junior College#502 0.2009 0.2092 0.2085 0.2087 0.2058 0.2068 0.2062 0.2053 0.2042 0.2027
Grade School #53 0.9134 0.9389 0.9923 1.0248 1.0683 1.0763 1.0605 1.0458 1.0362 1.0237
High School #86 1.7786 1.7205 1.6855 1.6595 1.6406 1.6122 1.5907 1.4944 1.4885 1.5258
Oak Brook Park District 0.1733 0.1695 0.2037 0.2051 0.2098 0.2064 0.2045 0.1997 0.1932 0.1911
Hinsdale Sanitary District 0.0000 0.0000 0.0080 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000
Total 4.0791 4.0133 4.0328 4.0129 4.0234 3.9106 3.7760 3.5547 3.5293 3.5267
Note: Includes all county, forest preserve, township and water commission rates. Rates are per$100 of assessed valuation.
Data Source
County Clerk's Office
74
VILLAGE OF OAK BROOK,ILLINOIS
RATIO OF NET GENERAL BONDED DEBT TO EQUALIZED ASSESSED VALUE
AND NET GENERAL BONDED DEBT PER CAPITA
LAST TEN FISCAL YEARS
December 31, 1999
1991 1992 1993 *1993 1994 1995 1996 1997 1998 1999
Population(1) 9,151 9,087 9,087 9,087 9,087 9,087 9,087 9,087 9,087 9,087
Equalized assessed value
(in thousands) $ 806,397 $ 855,836 $ 878,225 $ 878,225 $ 875,114 $ 887,591 $ 905,788 $ 938,948 $ 972,447 $ 1,005,097
Gross general bonded debt 3,450,000 2,650,000 1,800,000 900,000 - - - - - -
Debt service monies available 202,468 242,137 261,159 265,447 - - - - - -
Net general bonded debt 3,247,532 2,407,863 1,538,841 634,553 - - - - - -
Ratio of net general bonded debt
to equalized assessed value 0.00% 0.00% 0.00% 0.00% - - - - - -
Net general bonded debt per capita 354.9 265 169.3 69.8 - - - - - -
*During 1993 the Village changed its fiscal year-end from April 30 to December 31. This information is for the eight months ended December 31, 1993.
Data Sources
(1) Bureau of Census
(2) County Clerk's Office
(3) Village Records
75
1 I 1 1 1 I 1 I 1 I 1 I I I 1 1
VILLAGE OF OAK BROOK,ILLINOIS
COMPUTATION OF LEGAL DEBT MARGIN
December 31, 1999
Assessed value(1) $ 1,005,097,284
Debt limit 8.625%of assessed value $ 86,689,641
Debt applicable to debt limit 820,000
$ 85,869,641
Data Sources
(1) County Clerk's Office
76
a
VILLAGE OF OAK BROOK,ILLINOIS
SCHEDULE OF DIRECT AND OVERLAPPING BONDED DEBT
December 31, 1999 _
Percentage
of Debt
Applicable
Gross to Oak Brook's
Governmental Unit Bonded Debt Oak Brook Share of Debt
Village of Oak Brook $ - 100.00% $ -
Du Page County 132,470,000 4.69% 6,214,009 _
Du Page Forest Preserve 201,267,895 4.69% 9,441,236
Du Page Water Commission 112,835,000 4.95% 5,585,712
Park Districts 710,000 55.85% 396,538
Elementary School Districts 33,194,000 7.16% 2,375,295
High School Districts 76,119,440 6.51% 4,955,781
Unit District 205 4,123,150 7.45% 307,162
Total $ 560,719,485 $ 29,275,733
i
i
i
a=
Data Source
i
County Clerk's Office
77
VILLAGE OF OAK BROOK,ILLINOIS
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR
GENERAL BONDED DEBT TO TOTAL GENERAL EXPENDITURES
LAST TEN FISCAL YEARS
December 31, 1999
1991 1992 1993 *1993 1994 1995 1996 1997 1998 1999
Principal $ 800,000 $ 800,000 $ 850,000 $ 900,000 $ 900,000 $ - $ - $ - $ - $ _
Interest 205,800 149,288 109,375 44,100 44,821
Total debt service $__1,005,800 $ 949,288 $ 959,375 $ 944,100 $ 944,821 $ - $ - $ - $ _ $ _
Total general
expenditures $ 10,335,090 $ 12,059,721 $ 12,733,113 $ 8,030,983 $ 13,119 663 $ 12,917,872 $ 13,207,676 $ 14,940,686 $ 15,432,534 $ 16,432,432
Ratio of debt service
expenditures to
general expenditures 9.73 7.87 7.53 11.76 7.2 N/A N/A N/A N/A N/A
*During 1993 the Village changed its fiscal year-end from April 30 to December 31. This information is for the eight months ended December 31, 1993.
Data Source
Village Records
78
VILLAGE OF OAK BROOK,ILLINOIS
REVENUE BOND COVERAGE-WATERWORKS SYSTEM BONDS
LAST TEN FISCAL YEARS
December 31, 1999
1991 1992 1993 *1993 1994 1995 1996 1997 1998 1999
Gross revenue $ 2,706,681 $ 3,569,522 $ 4,275,374 $ 2,594,477 $ 4,515,859 $ 3,973,247 $ 3,393,279 $ 3,432,412 $ 3,511,768 $ 3,631,527
Expenses 1,089,610 1,954,069 3,148,968 2,103,182 3,853,645 3,827,515 3,766,251 3,268,633 3,364,481 4,038,892
Net revenue available for
debt service $ 1,617,071 $ 1,615,453 $ 1,126,406 $ 491,295 $ 662,214 $ 145,732 $ (372,972) $ 163,779 $ 147,287 $ (407,365)
Debt service
requirements
Principal $ 500,000 $ 225,000 $ 225,000 $ - $ 225,000 $ 250,000 $ 275,000 $ - $ - $ -
Interest 101,138 44,400 32,700 16,350 26,850 16,000 5,500 - - -
$ 601,138 $ 269,400 $ 257,700 $ 16,350 $ 251,850 $ 266,000 $ 280,500 $ - $ - $ -
Coverage 2.69 5.99 4.37 30.05 2.63 0.55 (1.32) - - -
* During 1993 the Village changed its fiscal year-end from April 30 to December 31. This information is for the eight months ended December 31, 1993.
Data Source
Village Records
79
I i i i i I 1 I i I i I i 1 i 1 I I 1
VILLAGE OF OAK BROOK,ILLINOIS
DEMOGRAPHIC STATISTICS
December 31, 1999
Per (1) Unemploy-
Fiscal (1) Capita Median ment
-" Year Population Income Age Percentage
1970 4,164 $ 8,997 34 0.07 %
1984 7,263 22,737 39 3.14
1989 9,151 26,818 41 2.05
1992 9,087 60,347 42 5.70
Data Sources
(1) Bureau of Census
(2) Bureau of Labor Statistics
80
VILLAGE OF OAK BROOK,ILLINOIS
PROPERTY VALUE AND CONSTRUCTION
LAST TEN FISCAL YEARS
December 31, 1999
Commercial Residential
Construction Construction
Fiscal Number Value Number Value Property Value
Year Of Units (in Thousands) of Units (in Thousands) (in Thousands)
1991 1 $ 15,400 15 $ 5,834 $ 2,197,400
1992 1 8,000 17 8,500 2,567,508
1993 - - 14 13,815 2,634,675
1993* 1 1,753 11 5,114 2,634,675
—
1994 2 2,602 22 15,834 2,625,341
1995 2 4,000 10 10,000 2,662,773
1996 2 12,345 22 14,035 2,717,364
1997 2 7,980 22 11,533 2,816,844
1998 4 16,655 32 20,047 2,917,341
1999 5 29,983 22 9,894 3,015,292
* During 1993 the Village changed its fiscal year-end from April 30 to December 31. This information
is for the eight months ended December 31, 1993. ,..
Data Sources _
Village Records
81
VILLAGE OF OAK BROOK,ILLINOIS
PRINCIPAL TAXPAYERS
December 31, 1999
1998 Percentage
Assessed of Total
Valuation Assessed
Taxpayers Type of Business (in Thousands) Valuation
Oak Brook Urban Venture Shopping center $ 80,172,270 7.98 %
McDonald's Corporation Office campus 45,219,550 4.50
Metlife Life insurance 18,842,770 1.87
WHOBT Real Estate Office buildings 16,348,230 1.63
Manufacturers Life Real Estate Executive towers 13,341,210 1.33
Butler National Golf Club Golf course 12,682,620 1.26
York Road Limited Partnership Hotel/office building 11,692,580 1.16
Crane&Norcross Office buildings 11,426,200 1.14
Marshall Fields Retail stores 10,074,400 1.00
Equity Office Property Office building 10,048,890 1.00
Data Source
County Clerk's Office
82
VILLAGE OF OAK BROOK,ILLINOIS
SCHEDULE OF INSURANCE IN FORCE
December 31, 1999
Insurance Coverage Amount of
Type of Insurance Company Expires Coverage
Village Manager's Bond Intergovernmental Risk Management Agency 12/31/00 $ 150,000
Treasurer's Bond Intergovernmental Risk Management Agency 12/31/00 100,000 _
Host Liquor Liability Lloyds of London Insurance Company 11/24/00 2,000,000
(RBJ123759) _
Contingent Business Intergovernmental Risk Management Agency 12/31/00 7,000,000
Interruption Insurance _
for Loss of Sales
Tax Revenues
The Village entered into a contractual agreement with 14 other municipalities to form the Intergovernmental `
Risk Management Agency (IRMA), which through its risk-sharing provisions, provides the Village with its
insurance coverage for liability, property damage, workmens' compensation and surety risks not covered by
the Village's Treasurers' or Village Manager's Bond. The Village's contributions to this cooperative agency
was determined by the pro rata share for each municipality's audited revenues and loss experience for the
previous year,to be sufficient annually to fund administrative expenses and create sufficient reserves for claim
payments and the purchase of excess insurance. The Agency provides loss protection in excess of a deductible
of$1,000 per occurrence to be paid by each municipality. The Agency is required to pay up to $250,000 per
occurrence for loss or injury within the scope of its self-insurance coverage for property claims and up to
$3,000,000 for general liability and auto liability. The Agency has also purchased excess catastrophe
insurance over the amount of its obligations and aggregate stop loss insurance. The amount of excess
insurance is $7,000,000 per occurrence for liability claims and $1,000,000,000 for property claims. As of
December 31, 1999, IRMA members totaled 76 municipalities. _
Data Source
Village Records
83
VILLAGE OF OAK BROOK,ILLINOIS
MISCELLANEOUS STATISTICS
December 31, 1999
Date of Incorporation February 21, 1958
Form of Government Seven-member Board of Trustees, including
President;
Village Manager appointed by Board of Trustees
Area 8.5 square miles
Miles of Streets 55 miles
Number of Street Lights 573
Fire Protection Number of stations 2
Number of firefighters 35
Number of paid on call firefighters 12
Police Protection Number of stations 1
Number of policemen
and officers 43
Detention facilities Juvenile 2
Adult 4
Education(Elementary Attendance centers 2
Only)
Number of teachers 54
Number of students 520
Municipal Water Department Number of customers 5,400
Total water pumped Gallons(in 1,480,186
Thousands)
Average daily consumption Gallons 4.055 million
Miles of water mains 79
Building Permits Issued 803
Recreation Oak Brook Sports Core-
269 acres including Bath and
Tennis club and 18-hole
golf course
Oak Brook Park District-
110 acres including indoor tennis,
outdoor tennis, and recreation and aquatics
center
Du Page County Forest
Preserve - 390 acres
Culture Number of libraries 1
Number of books and audiovisual materials 55,786
Census data 1960, 324; 1970,4,164; 1975, 5,281;
1980, 6,641; 1984, 7,263; 1990, 9,087
-- Employees 154 full-time
297 part-time/seasonal
Data Source
Village Records
84