CAFR (Year Ended December 31, 2009) 01
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`PILLAGE OF OAK BROOK
— COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 2009
VILLAGE OF OAK BROOK, ILLINOIS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Year Ended December 31, 2009
Prepared by the Financial Department
Sharon Dangles
Finance Director
Village of Oak Brook, Illinois
Table of Contents
Pa Le s)
Introductory Section
Table of Contents
Principal Officials iv
Organization Chart v
Certificate of Achievement for Excellence in Financial Reporting vi
Letter of Transmittal vii-x
Financial Section
Independent Auditor's Report 1 —2
-- Management's Discussion and Analysis 3- 14
Basic Financial Statements
Government-Wide Financial Statements
Statement of Net Assets 15- 16
Statement of Activities 17
Fund Financial Statements
_ Balance Sheet-Governmental Funds 18
Reconciliation of the Balance Sheet-Governmental Funds to
the Statement of Net Assets 19
Statement of Revenues, Expenditures and
Changes in Fund Balances-Governmental Funds 20
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds to the Statement of Activities 21
Statement of Net Assets- Proprietary Funds 22-23
Statement of Revenues, Expenses and Changes in Net Assets-
Proprietary Funds 24
Statement of Cash Flows-Proprietary Funds 25-26
Statement of Fiduciary Net Assets 27
Statement of Changes in Fiduciary Net Assets- Pension Trust Funds 28
Notes to Financial Statements 29-62
Required Supplementary Information (Unaudited)
_ Schedule of Revenues, Expenditures, and Changes in Fund Balance-
Budget and Actual-General Fund 63
Analysis of Funding Progress
Illinois Municipal Retirement Fund 64
Sheriffs Law Enforcement Personnel 64
Police Pension Fund 65
Firefighters' Pension Fund 65
Employer Contributions
Illinois Municipal Retirement Fund 66
Sheriffs Law Enforcement Personnel 66
Police Pension Fund 66
Firefighters' Pension Fund 66
Other Post-Employment Benefits
Analysis of Funding Progress 67
Employer Contributions 68
Note to Required Supplementary Information 69
i
Village of Oak Brook, Illinois —
Table of Contents
Financial Section (Continued)
Supplemental Data(Combining and Individual Fund Financial Statements
and Schedules, Budgetary Schedules, and Schedules of Capital
Assets Used in the Operation of Governmental Funds)
Major Governmental Funds —
Schedule of Revenues–Budget and Actual–General Fund 70
Schedule of Expenditures–Budget and Actual–General Fund 71 -78
Schedule of Revenues, Expenditures and Changes in Fund —
Balance–Budget and Actual–Infrastructure Fund 79-80
Governmental Funds —
Combining Balance Sheet- Nonmajor Governmental Funds 81
Combining Statement of Revenues, Expenditures and Changes in
Fund Balances- Nonmajor Governmental Funds 82 _
Schedule of Revenues, Expenditures, and Changes in Fund Balance-
Budget and Actual- Nonmajor Governmental Funds
Hotel/Motel Tax Fund 83
Motor Fuel Tax Fund 84 —
Foreign Fire Insurance Fund 85
Promenade T.I.F. Fund 86
Proprietary Funds —
Schedule of Revenues, Expenses and Changes in Net Assets-
Budget and Actual–Waterworks System Fund 87
Schedule of Operating Expenses–Budget and Actual- _
Waterworks System Fund 88
Schedule of Revenues, Expenses and Changes in Net Assets–
Budget and Actual–Sports Core Fund 89 —
Schedule of Operating Revenues–Budget and Actual–
Sports Core Fund 90
Schedule of Operating Expenses–Budget and Actual–
Sports Core Fund 91 -93 —
Internal Service Funds
Combining Statement of Net Assets 94
Combining Statement of Revenues, Expenses and Changes —
in Net Assets 95
Combining Statement of Cash Flows 96-97
Schedule of Revenues, Expenses and Changes in Net Assets– --
Budget and Actual
Self-Insurance Fund 98
Garage Fund 99 —
Capital Replacement Fund 100
ii —
Village of Oak Brook, Illinois
Table of Contents
Emf§)
s)
Financial Section (Continued)
Supplemental Data(Continued)
Fiduciary Funds
Combining Statement of Plan Net Assets 101
Combining Statement of Changes in Plan Net Assets
Pension Trust Funds 102
Schedule of Changes in Plan Net Assets-Budget and Actual
Police Pension Fund 103
Firefighters' Pension Fund 104
Statistical Section (Unaudited)
Financial Trends
— Net Assets by Component–Last Five Fiscal Years 105
Change in Net Assets–Last Five Fiscal Years 106- 107
Fund Balances of Governmental Funds–Last Ten Fiscal Years 108
Changes in Fund Balances of Governmental Funds–Last Ten Fiscal Years 109
Revenue Capacity
Assessed Value and Actual Value of Taxable Property 110
Property Tax Rates–Direct and Overlapping Governments 111
Principal Revenue Taxpayers 112
Direct and Overlapping Sales Tax Rates 113
Debt Capacity
Ratios of Outstanding Debt By Type 114
Schedule of Direct and Overlapping Bonded Debt 115
Legal Debt Margin Information 116
Demographic and Economic Information
Demographic and Economic Information–Last Ten Fiscal Years 117
Top Ten Principal Employers 118
Retail Sales Volume–Top 25 Illinois Communities 119
Sales Tax Receipts–Cash Basis–Last Ten Fiscal Years 120
State Sales Tax Receipts By Month–Cash Basis–Last Three Fiscal Years 121
Non-Home Rule Sales Tax Receipts By Month–Cash Basis–Last Three Fiscal Years 122
Sales Tax By Category–Last Ten Fiscal Years 123
Non-Home Rule Sales Tax By Category–Last Ten Fiscal Years 124
Budgeted Full-Time Equivalent Employees–Last Ten Fiscal Years 125-126
Operating Information
Operating Indicators–Last Ten Fiscal Years 127
Capital Asset Statistics–Last Ten Fiscal Years 128
iii
Village of Oak Brook, Illinois
Principal Officials
Year Ended December 31,2009
John W.Craig,Village President
Charlotte K. Pruss,Village Clerk
BOARD OF TRUSTEES
Stelios Aktipis Moin Saiyed
James Carson Gerald Wolin
Mark Moy Elaine Zannis
VILLAGE MANAGER
David Niemeyer,Village Manager
FINANCE DEPARTMENT
Sharon Dangles, Finance Director
iv
VILLAGE OF OAK BROOK
May, 2009
Residents of Oak Brook
Village Clerk Village President and Board of Trustees
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Village Attorney Boards and Commissions
Assistant Finance Police Fire Public Works Community Village Library Sports Core
Village Duector Chief Chief Director Development Engineer Director Director
Manager Director
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 31,2008
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.
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g Dear President and Board of Trustees:
Oak Brook
'1200 Oak Brook Road We are pleased to present to you the Comprehensive Annual Financial Report(CAFR) of
0-k Brook,IL 60523-2255 the Village of Oak Brook for the year ended December 31, 2009. According to mandated
Website local ordinances and state statutes it is required that a complete set of financial
www.oak-brook.org statements be published and presented in conformance with accounting principles
Administration generally accepted in the United States of America (GAAP) and audited in accordance
630.368.5000 with auditing standards generally accepted in the United States of by licensed independent
FAX 630.368.5045 certified public accountants.
Community Responsibility for both the accuracy of the presented data and the completeness and
Development fairness of the presentation, including all disclosures, rests with management of the
8.5101
FAXX 630.630.368.5128 ge Villa We believe to the best of our knowledge, these financial statements as
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presented, are accurate in all material respects and presented in a manner designed to
Engineering fairly set forth the financial position and results of the operations.
Department
630.368.5130 Management of the Village is responsible for establishing and maintaining internal controls
FAX 630.368.5128 designed to ensure that the assets of the Village are protected from loss, theft or misuse
Fire Department and to ensure that sufficient, reliable, adequate accounting data is compiled for the
630.368.5200 preparation of financial statements in conformity with GAAP. Internal accounting controls
FAX 630.368.5250 have been designed to provide reasonable rather than absolute assurance that the
financial statements will be free from material misstatement. We believe that the Village's
Police Department internal controls adequately safeguard assets and provide reasonable assurance of
630.368.8700 properly recorded financial transactions.
FAX 630.368.8739
—
Public Works In addition, the Village maintains budgetary controls. The objective of these controls is to
Department ensure compliance with legal provisions embodied in the annual budget approved by the
630.368.5270 Village Board. All disbursements receive approval from the Board of Trustees. The
FAX 630.368.5295 Village also maintains an encumbrance system that is used as an extension of formal
budgetary integration.
Oak Brook
Public Library The Village's financial statements have been audited by McGladrey & Pullen, LLP, a firm
of licensed certified public accountants. The independent audit is to provide reasonable
600 Oak Brook Road assurance that the financial statements of the Village of Oak Brook are free of material
"k Brook,IL 60523-2200 misstatements. The independent audit involved examining, on a test basis, evidence
630.368.7700 supporting the amounts and disclosures in the financial statements; assessing accounting
FAX 630.368.7704
principles used and significant estimates made by management; and the evaluation of the
'Oak Brook Sports Core overall financial statement presentation. Based upon the audit for the year ended
December 31, 2009, the independent auditors concluded that there was a reasonable
Bath&Tennis Club basis for rendering an unqualified opinion on the Village's financial statements. The
—700 Oak Brook Road independent auditor's report is presented as the first component of the financial section of
Oak Brook,IL 60523-4600 this report.
630.368.6420
FAX 630.368.6439
Golf Club
2606 York Road
k Brook,IL 60523-4602
630.368.6400
FAX 630.368.6419 VII
Management's discussion and analysis (MD&A) immediately follow the independent auditor's report and provides a
narrative introduction, overview and analysis of the basic financial statements. The MD&A complements this letter
of transmittal and should be read in conjunction with it.
Profile of the Village of Oak Brook
The Village of Oak Brook is located approximately 15 miles west of the Chicago Loop, near the geographic center
of the seven-county Chicago metropolitan area. Excellent transportation links are provided to all parts of the greater _
metropolitan area by a network of tollways and federal and state highways which pass through or near the Village.
The Tri-State Tollway (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 Oak Brook —
Terrace and on the south by Downers Grove, Westmont, Clarendon Hills and Hinsdale.
The Illinois unemployment rate was approximately 11% on December 31, 2009, the rate in DuPage County was
8.4%, significantly lower than the state-wide rate. According to the 2000 census, over 80% of the households in
Oak Brook are two or more persons, and over 74% of the occupants of the Village have resided in the same home
in Oak Brook for over 5 years, indicating a strong level of population stability. Per capita income of Village residents _
in 2000 was $76,668 and the mean family income was $187,961. The census also indicates that managerial,
professional, and sales occupations are held by 88%of Village residents employed.
The Village of Oak Brook operates under the Village form of government with an elected Village President and six
(6) Trustees. Operational management is provided by a professional manager appointed by the Board of Trustees.
The Village provides a wide range of municipal services including general government, public safety (police and
fire), public works, road maintenance, community development, recreation facilities and a free public library.
For additional information concerning the Village, please visit our website at www.oak-brook.org.
Local Economy and Finances
The Village of Oak Brook has been and continues to be one of the preeminent business centers in the Chicago
metropolitan area. Several Fortune 500 companies have facilities in the Village, including the corporate
headquarters of McDonald's Corporation. As a retail center, Oak Brook offers upscale shopping, fine restaurants,
and Oak Brook Center, one of the leading outdoor shopping centers in the United States. These factors, as well as
the performance of the Illinois economy over times, have enabled the Village to operate without a real estate tax
since inception due to the sales taxes generated from retail business activities.
With sales taxes being the largest source of revenue, the local and national economy has a significant effect on the
amount of revenue the Village receives. Like most other communities, since the late 1990s through 2003, Oak
Brook had experienced flat to declining sales tax revenue. In addition to the regional and national trends, Oak _
Brook has experienced the relocation of several significant sales tax payers to other local and out-of-state locations.
The current economic recession has had a major negative impact in Oak Brook during 2009 and is expected to -
continue in coming years. One of our major revenue sources, sales tax revenue, ended the year$1.4 million below
budget. The Village Board and staff have been working on balancing the long-term budget of the General
Corporate Fund. The Village Board and staff continue to look at additional cost reduction strategies in order to
maintain cash reserves at the six-month policy level and to balance the long-term operating budget of the Village.
viii
Long-term Financial Planning
The Village uses a number of processes to accomplish financial planning which are outlined as follows:
Goals and Objectives—this is an annual process in which the Village Board and staff express specific objectives to
be accomplished. Typically, objectives relate to a specific task or project or to a change in methods or operations
designed to achieve the stated objective.
Roadway Maintenance Plan —this plan is based on the Village's pavement management database and on a visual
_ inspection of every public street segment in the Village. The Plan, which is updated annually, includes a long-range
schedule of roadway maintenance activities, as well as cost projections over the next ten-year period in order to
plan for the orderly maintenance of the Village's roadway system.
Five-Year Financial Plan — this document is prepared annually in order to provide the Village Board and the
community with a five-year projection of the financial condition of each of the twelve funds that comprise the
Village's financial structure. This document is not as precise as the annual budget, but it does project both
revenues and expenditures for each of the next five years that can assist in identifying positive and negative trends.
Annual Budget — using the information gathered through the goals and objectives process, roadway maintenance
plan, and five-year financial plan, the annual line item budget is prepared. The budget is structured according to
cost centers(called "programs")and sets the spending plan for the coming year.
The foundation of all of the Village's financial planning is centered on the Village Board's well publicized policy of
maintaining a cash and investment reserve in the General Fund that meets or exceeds six months of annual
operating expenses. The six-month policy level, which is higher than many other municipalities, was established
due to the Village not having the predictability of real estate tax revenue and the fact that most of its general
revenues that are collected by the State (sales and telecommunications taxes) have a three-month delay. This
conservative policy ensures that the Village will have sufficient funds on hand to operate in an emergency situation,
as well as having sufficient time to address any economic downturns. The soundness of this financial policy has
proven itself as the Village has been able to maintain adequate cash reserves in this recessionary environment.
Major Initiatives
In 2009, the Village completed several water main projects, purchase and installation of a security camera system,
public safety radio upgrades, mass notification subscription to alert and inform residents of what to do in case of an
emergency or disaster, and an upgrade to our water network control system from analog to digital. There were a
number of capital projects that were deferred due to Village revenue issues. Included in the 2010 budget is the
2010 paving program, outlays to mitigate Gypsy Moth problems, numerous municipal building improvements,
several water main projects and water network control system improvements and payments related to the Village's
financial obligation for the 1-88122nd Street Bridge Project. The 2010 capital budget in the General Fund has been
reduced significantly due to declining revenues and many projects have been deferred to later years as indicated in
the Five-Year Financial Report.
In 2010 and after the Five-Year Financial Plan includes the majority of the Village's obligation for its share of the I-
88/22nd Street Bridge Project, continuation of the annual paving program, improvements to the Village's safety
pathway system, replacement of the Fire Department ladder truck, replacement of the roof at the Public Works
facility, Old Butler School improvements, outlays for water main replacements and maintenance expenses for
Reservoirs A and B.
ix
Awards and Acknowledgements
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of
Achievement for Excellence in Financial Reporting to the Village of Oak Brook for its Comprehensive Annual
Financial Report for the year ended December, 31,2008.
In order to be awarded a Certificate of Achievement, a governmental unit must publish an easily readable and
efficiently organized comprehensive annual financial report, whose contents conform to program standards. Such
reports must satisfy both generally accepted accounting principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. The Village has successfully obtained the
Certificate of Achievement for 32 consecutive years. We believe that our current Report conforms to Certificate of
Achievement Program requirements, and we are submitting it to GFOA to determine its eligibility for another -
certificate.
The preparation of this report could not be published without the efficient and dedicated services of the entire
Finance Department of the Village of Oak Brook. We wish to express our appreciation to those persons who have
made possible the publication of this report, and to thank the President and members of the Board of Trustees for
their interest and support in planning and conducting the financial operations of the Village in a responsible and
progressive manner.
Sharon Dangles
Finance Director -
x
INDEPENDENT AUDITOR'S REPORT
McGladrey& Pullen
Certified Public Accountants
Independent Auditor's Report
To The Honorable Village President
Members of the Board of Trustees
Village of Oak Brook, Illinois
We have audited the accompanying financial statements of the governmental activities,the business-type activities,
each major fund and the aggregate remaining fund information of the Village of Oak Brook, Illinois,as of and for the
year ended December 31,2009, which collectively comprise the Village's basic financial statements as listed in the
table of contents.These financial statements are the responsibility of the management of the Village of Oak Brook,
Illinois. Our responsibility is to express opinions on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States of America.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit 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 opinions.
In our opinion,the financial statements referred to above present fairly, in all material respects,the respective
financial position of the governmental activities,the business-type activities,each major fund and the aggregate
remaining fund information of the Village of Oak Brook, Illinois,as of December 31, 2009 and the respective changes
in financial position and cash flows,where applicable,thereof for the year then ended in conformity with accounting
principles generally accepted in the United States of America.
The required supplementary information which includes management's discussion and analysis(pages 3—14),
budgetary comparison information (page 63), pension and other post-employment related information(pages 64-68)
and note(page 69)is not a required part of the basic financial statements but is supplementary information required
by the Governmental Accounting Standards Board. We have applied certain limited procedures which consisted
principally of inquiries of management regarding the methods of measurement and presentation of the required
supplementary information. However,we did not audit the information and express no opinion on it.
McGladrey&Pullen,LLP is a member firm of RSM International—
an affiliation of separate and independent legal entities.
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the
basic financial statements of the Village of Oak Brook, Illinois. The combining and individual nonmajor fund financial
statements and other schedules, listed in the table of contents as supplemental data, are presented for purposes of
additional analysis and are not a required part of the basic financial statements. Such information has been subjected
to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in
all material respects in relation to the basic financial statements taken as a whole.
The accompanying introductory and statistical sections, as listed in the table of contents, have not been subjected to
the auditing procedures applied in the audit of the basic financial statements and, accordingly,we express no opinion
on them.
w
Schaumburg, Illinois
June 18,2010
-2-
Village of Oak Brook, Illinois
Management's Discussion and Analysis(Continued)
The Statement of Activities presents information showing how the government's net assets changed during the most
recent fiscal year. All changes in net assets are reported as soon as the underlying event giving rise to the change
occurs, regardless of the timing of the cash flows. Thus, revenues and expenses are reported in this statement for
some items that will only result in cash flows in future fiscal periods (e.g., earned but unused compensated
absences).
Both of the government-wide financial statements (see pages 15-17) distinguish functions of the Village that are
principally supported by taxes and intergovernmental revenues (governmental activities)from other functions that are
intended to recover all or a significant portion of their costs through user fees and charges (business-type activities).
The governmental activities of the Village reflect the Village's basic services, including administration, police, fire and
emergency medical services, engineering, public works, library, and community development. The business-type
activities of the Village, which are based on a fee for service designed to cover all or most of the cost of operation,
include the waterworks system and operations of the Oak Brook Sports Core.
Fund Financial Statements
Traditional users of governmental financial statements will find the Fund Financial Statements to be more familiar.
_ The focus of the presentation is on major funds rather than fund types. A fund is a grouping of related accounts that
is used to maintain control over resources that have been segregated for specific activities or objectives. The Village,
like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-
related legal requirements. All of the funds of the Village can be divided into three categories: governmental funds,
proprietary funds,and fiduciary funds.
Governmental Funds. Governmental funds are used to account for essentially the same functions reported as
governmental activities in the government-wide financial statements. However, unlike the government-wide financial
statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources,
as well as balances of spendable resources available at the end of the fiscal year. Such information may be useful in
evaluating a government's near-term financing requirements.
Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is
useful to compare the information presented for governmental funds with similar information presented for
governmental activities in the government-wide financial statements. By doing so, readers may better understand the
long-term impact of the government's near-term financing decisions. Both the governmental fund balance sheet and
_ the governmental fund statement of revenues, expenditures,and changes in fund balances provide a reconciliation to
facilitate this comparison between governmental funds and governmental activities.
The Village maintains 6 individual governmental funds. Information is presented separately in the governmental fund
balance sheet and statement of revenues, expenditures, and changes in fund balances for the General Fund and
Infrastructure Fund, both of which are considered to be"major"funds. Data from the other 4 governmental funds are
combined into a single, aggregate presentation. Individual fund data for each of these nonmajor governmental funds
is provided in the form of combining statements elsewhere in this report.
The Village adopts an annual budget for each of its governmental funds. A budgetary comparison statement has
been provided elsewhere in this report to demonstrate compliance with the budget. The basic governmental fund
financial statements can be found on pages 18 through 21 of this report.
Proprietary Funds. The Village maintains two different types of proprietary funds: enterprise funds and internal
service funds. Enterprise funds are used to report the same functions presented as business-type activities in the
government-wide financial statements. The Village uses enterprise funds to account for its waterworks system and
_ the operations of the Oak Brook Sports Core. Internal service funds are an accounting device used to accumulate
and allocate costs internally among the Village's various functions. The Village uses internal service funds to account
for the costs of health and dental insurance, garage operations, and the advance funding of equipment replacement.
-4-
(See independent auditor's report.)
Village of Oak Brook, Illinois
Management's Discussion and Analysis(Continued)
Because the Village's costs for these items relate to both governmental and business-type functions, the costs have
been allocated to each type of activity where appropriate.
Proprietary funds provide the same type of information as the government-wide financial statements, only in more
detail. The proprietary fund financial statements provide separate information for the Waterworks System and the
Oak Brook Sports Core, both of which are considered to be major funds of the Village. Conversely, the internal
service funds are combined into a single, aggregated presentation in the proprietary fund financial statements.
Individual fund data for the internal service funds is provided in the form of combining statements elsewhere in this
report.
The basic proprietary fund financial statements can be found on pages 22 through 26 of this report.
Fiduciary Funds. Fiduciary funds are used to account for resources held for the benefit of parties outside of the
government. Fiduciary funds are not reflected in the government-wide financial statements because the resources of
those funds are not available to support the Village's own programs. The accounting used for fiduciary funds is much
like that used for proprietary funds. The Village maintains two fiduciary funds: the Police Pension Fund and the
Firefighters' Pension Fund. r.
The basic fiduciary fund financial statements can be found on pages 27 and 28 of this report.
Infrastructure Assets
Prior to 2003,the Village's largest group of assets(infrastructure assets-roads, bridges, storm sewers, etc.)were not
reported nor depreciated in governmental financial statements. GASB Statement No. 34, which was implemented in _
2003, requires that these assets be valued and reported within the Governmental column of the Government-wide
Statements. Additionally, the Village must elect to (1) depreciate the assets over their estimated useful life or (2)
develop a system of asset management designed to maintain the service delivery potential to near perpetuity
(modified approach). The Village has chosen to depreciate assets over their useful life. If a road project is '—
considered maintenance-a recurring cost that does not extend the original useful life or expand its capacity-the cost of
the project will be expensed. An'overlay"of a road will be considered maintenance whereas a"rebuild"of a road will
be capitalized.
Notes to the Financial Statements
The notes provide additional information that is essential to a full understanding of the data provided in the _
government-wide and fund financial statements. The notes to the financial statements can be found on pages 29
through 62 of this report.
Other Information
In addition to the basic financial statements and accompanying notes, this report also presents certain required
supplementary information concerning the Village's progress in funding its obligation to provide benefits to its
employees. Required supplementary information can be found on pages 63 through 69 of this report.
The combining statements referred to earlier in connection with nonmajor governmental funds, nonmajor enterprise
funds, and internal service funds are presented immediately following the required supplementary information on
pensions. Combining and individual fund statements and schedules can be found on pages 70 through 104 of this
report.
Financial Analysis of the Village as a Whole
Beyond presenting current year financial information in the government-wide and major individual fund formats, the
Village also presents comparative information from the prior year in the Management's Discussion and Analysis. By
doing so, the Village is providing an additional means of analyzing its financial condition and financial position as of ._
December 31, 2009.
-5-
(See independent auditor's report.)
Village of Oak Brook, Illinois
Management's Discussion and Analysis(Continued)
GOVERNMENT-WIDE STATEMENTS
The Government-wide Financial Statements were designed so that the user can determine if the Village's financial
position has improved or deteriorated from the prior year. The Village's overall financial condition has remained
stable.
Summary of Net Assets
The following table reflects a Summary of Net Assets for fiscal years 2009 and 2008.
Table 1
Statement of Net Assets
As of December 31,2009 and 2008
(in millions)
Governmental Business-Type Total Primary
Activities Activities Government
2009 2008 2009 2008 2009 2008
Current and other assets $ 26.3 $ 25.9 $ 5.9 $ 6.3 $ 32.2 $ 32.2
Capital assets 62.7 63.9 25.5 25.0 88.2 88.9
Total Assets 89.0 89.8 31.4 31.3 120.4 121.1
Current liabilities 5.2 3.5 0.7 0.6 5.9 4.1
Other liabilities 6.3 1.9 0.7 0.5 7.0 2.4
Total Liabilities 11.5 5.4 1.4 1.1 12.9 6.5
Net Assets:
Invested in capital assets,
net of debt 60.6 61.7 24.5 24.5 85.1 86.2
Unrestricted 16.9 22.7 5.5 5.7 22.4 28.4
Total Net Assets $ 77.5 $ 84.4 $ 30.0 $ 30.2 $ 107.5 $ 114.6
The Village's combined net assets decreased by $7.1 million from $114.6 to $107.5 million during 2009. The
decrease in net assets of governmental activities is primarily attributed to a $6 million long-term liability recorded
under an intergovernmental agreement with the Illinois Department of Transportation and the Illinois State Toll
Highway Authority for various improvements to 22°d Street. Additionally, there was a decrease in sales tax in the
General Corporate Fund and the Non-home rule sales tax in the Infrastructure Fund. The decrease in net assets of
business-type activities is primarily due to an increase in the advance to the Sports Core Fund from the General
Fund.
The invested in capital assets, net of related debt is the largest portion of net assets. This represents capital assets
(land, buildings, improvements, equipment, infrastructure and construction in progress), net of accumulated
depreciation, and the outstanding related debt used to acquire the assets. The Village uses these capital assets to
provide services to its citizens and these assets are not available for future spending. For more detailed information,
see the Statement of Net Assets on page 15.
-6-
(See independent auditor's report.)
Village of Oak Brook, Illinois
Management's Discussion and Analysis(Continued)
Summary of Changes in Net Assets
The following table summarizes the revenues and expenses of the Village's activities for 2009 and 2008:
Table 2
Changes in Net Assets
For the Fiscal Years Ended December 31,2009 and 2008
(in millions)
Governmental Business-Type Total Primary _
Activities Activities Government
2009 2008 2009 2008 2009 2008
REVENUES
Program Revenues:
Charges for services $ 2.0 $ 2.2 $ 7.3 $ 7.6 $ 9.3 $ 9.8
Grants and contributions 0.3 0.3 - - 0.3 0.3
General Revenues:
Sales and local use taxes 14.2 16.1 - - 14.2 16.1
Utility taxes 4.9 4.5 - - 4.9 4.5
Other taxes 2.5 2.5 - - 2.5 2.5
Investment income 0.1 0.5 - 0.2 0.1 0.7
Other - 0.3 - 0.4 - 0.7
Total Revenues 24.0 26.4 7.3 8.2 31.3 34.6
EXPENSES
General government 5.3 6.2 - - 5.3 6.2
Public safety 11.9 12.6 - - 11.9 12.6
Public works 11.9 3.2 - - 11.9 3.2
Culture and recreation 1.7 2.0 - - 1.7 2.0
Waterworks system - - 4.0 3.9 4.0 3.9
Sports Core - - 3.5 3.8 3.5 3.8
Interest on long-term debt 0.1 0.1 - - 0.1 0.1
Total Expenses 30.9 24.1 7.5 7.7 38.4 31.8
-
Change in Net Assets $ (6.9) $ 2.3 $ (0.2) $ 0.5 $ (7.1) $ 2.8
Total Net Assets $ 77.5 $ 84.4 $ 30.0 $ 30.2 $ 107.5 $ 114.6
Total revenues decreased $3.3 million, or 9.5%, compared to the prior year. Total expenses increased $6.6 million,
or 20.8%,compared to the prior year.
Governmental Activities
The net assets of the Village's governmental activities decreased by$6.9 million. The decrease in the governmental -
activities invested in capital assets net of related debt is$1.1 million or 1.8%compared to the prior year.
-7-
(See independent auditor's report.) _
Village of Oak Brook, Illinois
Management's Discussion and Analysis(Continued)
The following chart shows revenues by source of governmental activities by percent of total revenues.
2009 Revenues By Source - Governmental
_ Other Activities
Taxes Other
10.42% .42% Charges for
Services
— 8.33%
Grants and
Contributions
1.25%
Utility Taxes
20.42%
^�— Sales and Use
- _—w- Taxes
59.17%
The following is a chart of revenues by source for governmental activities for fiscal years 2009 and 2008.
Revenues by Source - Governmental Activities
N $18
c $16
$12
$10
$8
$6
$4 ■2009
$2
■2008
$-
NC ell ZC11 ZC11
1bO
a�a4i J�\��
0
�IC7
Ora
-8-
(See independent auditor's report.)
Village of Oak Brook, Illinois
Management's Discussion and Analysis(Continued) —
Current Year Impacts
Revenues–Governmental Activities
For the fiscal year ended December 31, 2009, revenues totaled$24.0 million, a decrease of$2.4 million from 2008. —
Revenue from sales and use taxes, which continues to be the Village's largest revenue source, amounted to more
than $14.2 million or 59.2% of total revenue, a decrease of $1.9 million or 11.8% from 2008. The impact of this
recessionary economy resulted in less consumer spending, which affected our sales tax collections. Utility taxes,
which include the taxes imposed on electric, natural gas, and telecommunications services, were $4.9 million or —
20.4% of total revenues. This represents an increase of $0.4 million from the comparable amount in 2008, and is
mostly attributable to increased receipts from the Village's 6%Telecommunication Tax. Receipts from the additional
tax of 5%to 6%began in April,2009.
The "other taxes" classification includes a number of different revenue sources including income taxes, personal
property replacement taxes, and hotel taxes. For 2009, these revenues were $2.5 million or 10.4% of total —
revenues,with no significant change from the prior year.
Charges for services, which include revenue such as building/inspection fees, permit fees, ambulance fees have —
decreased$.2 million due to the impact of the economy on the building industry. Investment income declined due to
extremely low investment yields.
Expenses by Function - Governmental Activities
$14
$12
c $10
$8
$6 ■2009
■2008
$4
$2
$0
General Public Safety Public Works Culture& Interest
Government Recreation
Expenses by Function–Governmental Activities
Expenses for the Village of Oak Brook for Governmental activities amounted to a total of $30.9 million in 2009, an
increase of$6.8 million from 2008. As required by GASB Statement No. 34,the expense totals include depreciation
expense of $1.8 million for governmental activities. Depreciation expense, which includes depreciation on
infrastructure, has been allocated over the most appropriate functional categories.
-9-
(See independent auditor's report.)
Village of Oak Brook,Illinois
Management's Discussion and Analysis(Continued)
Budgetary Information
In 2003, the Village Board policy was to require budget transfers when an individual program or fund exceeds its
budget in total. In addition to these program transfers, beginning in 2004 the Village Board approved an ordinance
requiring a budget transfer for any individual line item account that exceeded its budget by more than 110%. In
October, 2006 this policy was further revised by eliminating the 110% threshold and instead requiring a line item
budget transfer for any variance exceeding $10,000 in a personnel series account and variances exceeding$2,500 in
all other accounts. In order to stay in compliance with these policies, the Village Board amended the original budget
on twelve occasions during the year. In addition to these transfers, the original budget in total for the Promenade
Special Tax Allocation Fund (TIF)was increased by$50,000 in order to budget funds for a payment to the developer.
Table 3
General Fund Budgetary Highlights
For the Fiscal Year Ended December 31,2009
Original Amended
Budget Budget Actual
REVENUES
Intergovernmental $ 12,488,000 $ 12,488,000 $ 10,889,339
Utility taxes 4,975,000 4,975,000 4,922,115
Licenses and permits 845,350 845,350 741,380
Charges for services 1,007,900 1,007,900 695,630
Other 912,500 912,500 774,221
Total Revenues 20,228,750 20,228,750 18,022,685
EXPENDITURES
General government 5,046,495 5,029,565 4,673,598
Public safety 12,392,105 12,392,105 11,457,038
Public works 804,965 873,045 553,025
Culture and recreation 1,393,800 1,393,800 1,222,972
Debt service 300,600 300,600 300,415
Capital outlay 497,500 446,350 356,625 _
Total Expenditures 20,435,465 20,435,465 18,563,673
Excess deficiency of revenues
over expenditures $ (206,715) $ (206,715) $ (540,988)
Intergovernmental revenues were under budget due to primarily sales tax revenue failing to meet budget projections —.
due to the recession. Charges for services were under budget due to decreased activity in the building sector and not
implementing the adjudication program until 2010. Licenses and permits were under budget due to decreased permit
activity.
Actual expenditures were $1.9 million below the original and revised budget. Due to the economy causing revenue
shortfalls, the Village limited spending to only essential items in 2009, left a number of positions vacant for part of the
year, implemented a reduction in work force program, increased health insurance employee cost sharing, and
deferred a number of capital projects.
- 11 -
(See independent auditor's report.)
Village of Oak Brook, Illinois
Management's Discussion and Analysis(Continued)
Capital Assets
The following schedule reflects the Village's capital asset balances as of December 31,2009 and 2008.
Table 4
Capital Assets
As of December 31,2009 and 2008
(in millions)
Governmental Business-Type
Activities Activities Total
2009 2008 2009 2008 2009 2008
Land and land right of way $ 32.3 $ 32.3 $ 8.3 $ 8.3 $ 40.6 $ 40.6
Buildings and land improvements 18.8 18.8 8.6 8.6 27.4 27.4
Machinery,vehicles, and equipment 8.7 8.5 5.0 4.9 13.7 13.4
Infrastructure 33.5 33.4 18.2 17.3 51.7 50.7
Construction in progress - - 0.2 0.1 0.2 0.1
93.3 93.0 40.3 39.2 133.6 132.2
Less:
Accumulated depreciation (30.6) (29.1) (14.8) (14.2) (45.4) (43.3)
Total $ 62.7 $ 63.9 $ 25.5 $ 25.0 $ 88.2 $ 88.9
At year-end, the Village's investment in capital assets(net of accumulated depreciation)for both its governmental and
business-type activities was $88.2 million, a decrease of $.7 million from 2008 (see Note 5 in the Notes to the
Financial Statements for further information regarding capital assets). Major capital asset events during 2009
included the following:
Purchase and installation of security cameras, mass notification subscription to inform residents of emergency
related events, four police vehicles, one dump truck and public safety radio upgrades are among the additions
totaling$.6 million that were purchased for use in governmental activities.
• For business-type activities, there were SCADA System improvements for use with our water network control
system, water mains were improved in Westdale Gardens, 1-88/Rt. 83, Briarwood circle, one golf course
maintenance equipment item was replaced and two minor building improvements at the Sports Core.
Long-Term Debt
As a non-home rule community, the Village's legal general obligation debt limit is 8.625 percent of equalized
assessed valuation (EAV), or$151,732,970 based on January 1, 2008 EAV of$1,787,048,929. As of December 31,
2009, the Village has $2,400,000 of debt outstanding attributed to three installment contracts that is applicable to the
legal limit (see Note 7 in the Notes to the Financial Statements for details of each issue). The table below
summarizes the Village's outstanding long-term debt:
- 12-
(See independent auditor's report.)
Village of Oak Brook, Illinois
Management's Discussion and Analysis(Continued)
Table 5
Long-term Debt
As of December 31,2009
Governmental Business-Type
Activities Activities Total
General Fund Certificates:
Series 2009(Refunding) $ 2,075,000 $ - $ 2,075,000
Series 2003(Refunding) - 325,000 325,000
Note Payable 6,007,443 675,348 6,682,791
Total $ 8,082,443 $ 1,000,348 $ 9,082,791
The General Fund Certificates are general obligations of the Village but are not secured by a pledge of property
taxes. The 1999 series certificates last payment was made in December, 2009. With respect to the 2003 series
certificates, the Village intends to use Sports Core Fund revenues to pay the annual debt service. Thus, these
obligations have been included with business-type activities. The General Fund Certificates, Series 2009 (refunding)
received a rating of Aa2 from Moody's Investor Service, Inc.
The Village's note is payable to the Illinois State Toll Highway Authority in connection with the intergovernmental
agreement between the Village, the Tollway and the Illinois Department of Transportation. The Village has four
remaining annual installments until the note is retired in 2013. The balance on the note payable at December 31,
2009 is$6.7 million.
Economic Factors and Next Year's Budget
Whereas real estate taxes are typically a major source of revenue in most other municipalities, the Village of Oak
Brook does not levy a tax on real estate. In addition, since Oak Brook is a non-home rule community and is subject
to the tax cap, this effectively limits the Village's real estate tax levy at$0. Thus, as compared to other municipalities,
Oak Brook's revenue stream is much more dependent on the local and national economy since sales taxes, utility
taxes, and state-shared revenues are the primary sources of income to the Village.
In the last quarter of 2009, the Illinois State Toll Highway Authority completed the project to widen the 1-88 bridge over
22nd Street. As part of this project, the portion of 22nd Street that is under the bridge was widened from 2 lanes to 3
lanes. This was a long awaited project that addressed a major traffic problem in the Village and is considered a key
component towards encouraging commercial redevelopment. As part of a 1999 agreement with the Illinois
Department of Transportation,the Village is required to fund 1/3 of the cost of this project. Based on the most recent
estimates the Village share is expected to be approximately $8.4 million. The Village share also included
improvements to 3 separate water main segments as well as decorative lighting being installed as part of the
improvements in the Hotel Beautification District.
In order to fund the Village's financial obligation for the 1-88/22nd Bridge project as well as the infrastructure needs of
the Oak Brook Commercial Revitalization Project, a referendum question was placed on the ballot in April, 2007 that
authorized an increase in non-home rule sales tax by an additional 0.25%. This measure was approved by 59% of
the voters and will result in additional revenue of approximately $2.6 million annually in order to fund these two
important projects. Imposition of the additional 0.25% non-home rule sales tax(bringing the total non-home rule sales
tax rate to 0.50%and total sales tax rate in Oak Brook to 7.25%)began on January 1,2008.
- 13-
(See independent auditor's report.)
Village of Oak Brook, Illinois
Management's Discussion and Analysis(Continued)
The current economic recession has had a major negative impact in Oak Brook during 2009 and is expected to
continue in the coming years. Sales tax revenue,which is the major revenue source to the General Corporate Fund,
ended the year nearly$1.4 million below budget expectations. The continuing negative revenue trends were noted in
the first quarter and staff and the Village Board have been working on balancing the long-term budget of the General
Corporate Fund. Some of the budget changes implemented during 2009 and 2010 are as follows:
In order to reduce expenditures,the Village needed to do a Reduction in Workforce in July,2009. Some full-
time positions were replaced with part-time positions, others were left vacant, and some positions were
outsourced and there were positions that were eliminated altogether. Approximately 28 positions were
eliminated in the last year and a half and continue to be left vacant.
• An early retirement incentive program plans to be offered in mid-2010 that will result in further personnel
reductions.
For non-union employees, no cost of living increases and merit increases for those moving through the
grade system was projected for 2010. Collective bargaining positions are still under negotiations.
• In order to save on the rising cost of health insurance, changes to the plan were made in addition to
increasing the employee cost sharing.
• Significantly reduced a number of line items including no tuition reimbursement, travel and training, library
books and materials, and equipment purchases.
• Refinanced the installment contract utilized to finance a portion of the Village Hall expansion by lowering the
interest rate and extended the remaining term from seven to nine years.
• A thorough review of the vehicle fleet inventory was performed and the expected lives of a number of
vehicles were extended to future years.
The Village Board and staff are continuing to look at additional cost reduction strategies in order to maintain cash
reserves at the six month policy level and to balance the long-term operating budget of the Village budget.
CONTACTING THE VILLAGE'S FINANCIAL MANAGEMENT
This financial report is designed to provide our citizens, customers, investors and creditors with a general overview of
the Village's finances and to demonstrate accountability for the money it receives. Questions concerning this report
or requests for additional financial information should be directed to Sharon Dangles, Finance Director, Village of Oak
Brook, 1200 Oak Brook Road, Oak Brook, IL 60523.
- 14-
(See independent auditor's report.)
Village of Oak Brook, Illinois
Statement of Net Assets
December 31,2009
Governmental Business-Type
Activities Activities Total
Assets
Current
Cash and investments $ 19,995,052 $ 6,151,928 $ 26,146,980
Receivables(net of allowance for uncollectible)
Sales taxes 4,002,755 - 4,002,755
Utility taxes 869,613 - 869,613
Accounts 134,564 - 134,564
Billed and unbilled water sales - 405,202 405,202
Allotments 17,901 - 17,901
Other 319,839 42,711 362,550
Advances to(from)other funds 1,495,000 (1,495,000) -
Internal balances (629,835) 629,835 -
Inventories 45,433 187,166 232,599 _
Prepaid expense 17,414 - 17,414
Total current assets 26,267,736 5,921,842 32,189,578
Noncurrent
Net other post-employment benefit asset 21,542 - 21,542
Capital assets
Non-depreciable 32,304,134 8,476,081 40,780,215 '—
Depreciable, net of accumulated depreciation 30,399,582 17,071,780 47,471,362
Total capital assets 62,703,716 25,547,861 88,251,577
Total noncurrent assets 62,725,258 25,547,861 88,273,119
Total assets $ 88,992,994 $ 31,469,703 $ 120,462,697
(Continued)
See Notes to Financial Statements.
- 15-
Village of Oak Brook, Illinois
Statement of Net Assets-Continued
December 31,2009
Governmental Business-Type
Activities Activities Total
Liabilities
Current
Accounts payable $ 808,245 $ 268,835 $ 1,077,080
Accrued payroll 191,314 34,494 225,808
Accrued interest 6,806 858 7,664
Claims payable 123,600 - 123,600
Deposits 1,237,455 19,675 1,257,130
Unearned revenue 150,614 25,980 176,594
_ Compensated absences 938,358 82,625 1,020,983
Current maturities of long-term obligations 1,746,234 268,766 2,015,000
Total current liabilities 5,202,626 701,233 5,903,859
Noncurrent
Long-term obligations
Due in more than one year 6,336,209 731,582 7,067,791
Total noncurrent liabilities 6,336,209 731,582 7,067,791
Total liabilities 11,538,835 1,432,815 12,971,650
Net Assets
_ Invested in capital assets, net of related debt 60,628,716 24,547,513 85,176,229
Unrestricted 16,825,443 5,489,375 22,314,818
Total net assets $ 77,454,159 $ 30,036,888 $ 107,491,047
See Notes to Financial Statements.
- 16-
Village of Oak Brook,Illinois
Statement of Activities
Year Ended December 31,2009
Program Revenues Net(Expense),Revenue and Changes in Net Assets
Operating
Charges for Grants and Capital Governmental Business-Type
Functions/Programs Expenses Services Contributions Grants Activities Activities Total
Governmental activities
General government $ 5,334,561 $ 1,065,192 $ - $ $ (4,269,369) $ $ (4,269,369)
Public safety 11,892,136 870,927 86,356 (10,934,853) (10,934,853)
Public works 11,858,158 48,413 222,860 402 (11,586,483) (11,586,483)
Culture and recreation 1,731,299 23,986 - - (1,707,313) (1,707,313)
Interest 108,221 - - - (108,221) (108,221)
Total governmental activities 30,924,375 2,008,518 309,216 402 (28,606,239) - (28,606,239)
Business-type activities
Waterworks system 4,050,779 3,992,139 - - (58,640) (58,640)
Sports Core 3,471,185 3,287,384 (183,801) (183,801)
Total business-type activities 7,521,964 7,279,523 - - (242,441) (242,441)
Total $ 38,446,339 $ 9,288,041 $ 309,216 $ 402 (28,606,239) (242,441) (28,848,680)
General revenues
Taxes
Property taxes 347,393- 347,393
Replacement 271,548, 271,548
Sales and use 14,159,087/ 14,159,087
utility 4,922,115✓ 4,922,115
Hotel/motel 882,649• 882,649
Income 809,948• 809,948
Other 173,654 " 173,654
Investment income 99,302 25,254 124,556
Gain on sale of capital assets 23,219 2,000 25,219
Miscellaneous 5,040 - 5,040
Total general revenues 21,693,955 27,254 21,721,209
Change in net assets (6,912,284) (215,187) (7,127,471)
Net assets-beginning 84,366,443 30,252,075 114,618,518
Net assets-ending $ 77,454,159 $ 30,036,888 $ 107,491,047
See Notes to Financial Statements.
-17-
Village of Oak Brook,Illinois
Balance Sheet-Governmental Funds
December 31,2009
Nonmajor Total
—
General Governmental Governmental
Fund Infrastructure Funds Funds
Assets
Cash and investments $ 8,924,637 $ 3,404,426 $ 3,152,349 $ 15,481,412
Receivables
Sales taxes 2,587,527 1,415,228 - 4,002,755
Utility taxes 869,613 - - 869,613
Accounts 134,564 - - 134,564
Allotments - - 17,901 17,901
Other 202,838 14,622 71,257 288,717
Advances to other funds 1,495,000 - - 1,495,000
Total assets $ 14,214,179 $ 4,834,276 $ 3,241,507 $ 22,289,962
Liabilities
Accounts payable $ 475,898 $ 68,576 $ 29,856 $ 574,330
Accrued payroll 169,205 19,143 - 188,348
Accrued interest payable 2,274 - - 2,274
Deposits payable 1,224,191 13,264 - 1,237,455
Unearned revenue 59,758 50,673 - 110,431
Total liabilities 1,931,326 151,656 29,856 2,112,838
Fund Balances
Reserved for advances 1,495,000 - - 1,495,000
Unreserved-undesignated
Undesignated-General fund 10,787,853 - - 10,787,853
Undesignated-Special revenue funds - - 2,986,576 2,986,576
Undesignated-Capital projects funds - 4,682,620 225,075 4,907,695
Total fund balances 12,282,853 4,682,620 3,211,651 20,177,124
Total liabilities and fund balances $ 14,214,179 $ 4,834,276 $ 3,241,507 $ 22,289,962
See Notes to Financial Statements.
- 18-
Village of Oak Brook, Illinois _
Reconciliation of the Balance Sheet-Governmental Funds
to the Statement of Net Assets
December 31,2009
Total fund balances-governmental funds $ 20,177,124
Amounts reported for governmental activities in the
Statement of Net Assets are different because:
Capital assets used in governmental activities, excluding the internal service
fund capital assets below, are not financial resources and, therefore, are not
reported in the governmental funds. 60,476,748
Interest payable is not due and payable in the current period and,therefore, _
is not reported in the governmental funds. (4,532)
Long-term liabilities(assets)are not due and payable in the current period and,
therefore, are not reported in the governmental funds:
Installment contracts payable (2,075,000)
Compensated absences payable (929,036)
Net other post-employment benefit asset 21,542
A portion of the net'assets of the internal service funds are included in the
governmental activities in the Statement of Net Assets.
Capital assets 2,226,968
Other net assets 3,567,788 ...
Net assets of governmental activities $ 83,461,602
See Notes to Financial Statements.
-19-
Village of Oak Brook,Illinois
Statement of Revenues,Expenditures and Changes in Fund Balances -
Governmental Funds
Year Ended December 31,2009
Nonmajor Total
General Governmental Governmental
Fund Infrastructure Funds Funds
Revenues
Property tax $ - $ - $ 347,393 $ 347,393
Intergovernmental 10,889,339 402 283,248 11,172,989
Non-home rule sales tax - 4,410,438 - 4,410,438
Utility taxes 4,922,115 - - 4,922,115
- Hotel/motel taxes - - 882,649 882,649
Licenses and permits 741,380 - - 741,380
Charges for services 695,630 - - 695,630
Fines and penalties 313,395 - - 313,395
Investment income 62,286 10,039 8,020 80,345
Miscellaneous 398,540 5,040 - 403,580
Total revenues 18,022,685 4,425,919 1,521,310 23,969,914
Expenditures
Current
General government 4,673,598 - 258,851 4,932,449
Public safety 11,457,038 - 39,643 11,496,681
Public works 553,025 9,905,186 - 10,458,211
Culture and recreation 1,222,972 - 373,468 1,596,440
Debt service
Principal 205,000 - - 205,000
Interest and issuance costs 95,415 - - 95,415
Note payment - 1,501,163 - 1,501,163
Capital outlay 356,625 638,151 - 994,776
Total expenditures 18,563,673 12,044,500 671,962 31,280,135
_ Excess(deficiency)of revenues
over expenditures (540,988) (7,618,581) 849,348 (7,310,221)
Other financing sources(uses)
Debt issuance 2,280,000 - - 2,280,000
Note payable - 7,508,606 - 7,508,606
Debt issuance premium 8,861 - - 8,861
Payment to refunded bond escrow agent (2,250,850) - - (2,250,850)
Total other financing sources(uses) 38,011 7,508,606 - 7,546,617
Net change in fund balances (502,977) (109,975) 849,348 236,396
Fund balances-beginning 12,785,830 4,792,595 2,362,303 19,940,728
Fund balances-ending $ 12,282,853 $ 4,682,620 $ 3,211,651 $ 20,177,124
See Notes to Financial Statements.
-20-
Village of Oak Brook, Illinois
Reconciliation of the Statement of Revenues,Expenditures and Changes
in Fund Balances of Governmental Funds to the Statement of Activities
Year Ended December 31,2009
Net change in fund balances-total governmental funds $ 236,396
Amounts reported for governmental activities in the Statement of
Activities are different because:
Governmental funds report capital outlays as expenditures. However, in the
Statement of Activities,the cost of these assets is allocated over their
estimated useful lives and reported as depreciation expense. This amount
is the amount by which depreciation expense($1,435,023)exceeded
capital outlay($285,624) in the current period. (1,149,399)
Proceeds from the sale of capital assets are recorded as an other financing
source, however,for the Statement of Activities, a gain or loss on
disposal is recorded. (21,556)
The repayment of long-term debt is reported as an expenditure when
due in governmental funds but as a reduction of principal outstanding
in the Statement of Activities,and the issuance and refunding of debt
are other financing sources and uses in governmental funds, but impact
principal outstanding in the Statement of Activities.
Debt issuance (2,288,861)
Note payable (7,508,606) _
Payment to escrow agent for refunding 2,250,850
Principal retirement 1,706,163
Some expenses reported in the Statement of Activities do not
require the use of current financial resources and,therefore,
are not reported as expenditures in governmental funds. These ._
activities consist of:
Change in compensated absences (55,603)
Change in interest payable and amortization (12,806)
Change in net other post-employment benefit obligation 36,269
The change in net assets of certain activities of internal service funds,
excluding depreciation, is included in governmental activities. (105,131)
Change in net assets of governmental activities $ (6,912,284)
See Notes to Financial Statements.
-21 -
Village of Oak Brook,Illinois
Statement of Net Assets-Proprietary Funds
December 31,2009
Governmental
Business-Type Activities-Enterprise Funds Activities
Waterworks Sports Internal
System Core Service
Fund Fund Total Funds
Assets
Current
Cash and investments $ 6,116,887 $ 35,041 $ 6,151,928 $ 4,513,640
Receivables
Billed and unbilled water sales 405,202 - 405,202 -
Other 1,967 40,744 42,711 31,126
_ Inventories - 187,166 187,166 45,428
Prepaid expense - - - 17,414
Total current assets 6,524,056 262,951 6,787,007 4,607,608
Noncurrent
Capital Assets
Non-depreciable 399,616 8,076,465 8,476,081 -
Depreciable, net of accumulated
depreciation 12,553,210 4,518,570 17,071,780 2,226,968
Total noncurrent assets 12,952,826 12,595,035 25,547,861 2,226,968
Total assets $ 19,476,882 $ 12,857,986 $ 32,334,868 $ 6,834,576
(Continued)
See Notes to Financial Statements.
-22-
Village of Oak Brook,Illinois
Statement of Net Assets-Proprietary Funds-Continued _
December 31,2009
Governmental
Business-Type Activities-Enterprise Funds Activities
Waterworks Sports Internal
System Core Service
Fund Fund Total Funds
Liabilities
Current
Accounts payable $ 219,231 $ 49,604 $ 268,835 $ 233,915
Accrued payroll 19,442 15,052 34,494 2,966
Accrued interest - 858 858 -
Deposits - 19,675 19,675 -
Deferred revenue - 25,980 25,980 40,183
Claims payable - - - 123,600
Compensated absences payable 38,078 44,547 82,625 9,322
Installment contract payable - 100,000 100,000 -
Note payable 168,766 - 168,766 -
Total current liabilities 445,517 255,716 701,233 409,986
Noncurrent
Advances from other funds - 1,495,000 1,495,000 -
Installment contract payable - 225,000 225,000 -
Note payable 506,582 - 506,582 -
Total noncurrent liabilities 506,582 1,720,000 2,226,582 -
Total liabilities 952,099 1,975,716 2,927,815 409,986
Net Assets
Invested in capital assets, net of
related debt 12,277,478 12,270,035 24,547,513 2,226,968
Unrestricted 6,247,305 (1,387,765) 4,859,540 4,197,622
Total net assets $ 18,524,783 $ 10,882,270 29,407,053 $ 6,424,590
Adjustment to reflect the consolidation of internal service _
fund activities related to enterprise funds 629,835
Net assets of business-type activities $ 30,036,888
See Notes to Financial Statements. 23
Village of Oak Brook,Illinois
_ Statement of Revenues,Expenses and Changes in Net Assets-
Proprietary Funds
Year Ended December 31,2009
Governmental
Business-Type Activities-Enterprise Funds Activities
Waterworks Sports Internal
System Core Service
Fund Fund Total Funds
Operating revenues
Charges for services $ 3,992,139 $ 3,287,384 $ 7,279,523 $ 3,250,056
Operating expenses
Operations 3,611,742 3,189,875 6,801,617 591,584
Claims and insurance - - - 2,500,142
Miscellaneous - - - 10,269
Depreciation and amortization 418,182 265,255 683,437 337,780
Total operating expenses 4,029,924 3,455,130 7,485,054 3,439,775
Operating income(loss) (37,785) (167,746) (205,531) (189,719)
Nonoperating revenues(expenses)
Investment income 24,152 1,102 25,254 18,957
Gain on sale of assets 2,000 - 2,000 23,219
Interest expense - (16,055) (16,055) -
Total nonoperating revenues(expenses) 26,152 (14,953) 11,199 42,176
Change in net assets (11,633) (182,699) (194,332) (147,543)
Net assets-beginning 18,536,416 11,064,969 6,572,133
Net assets-ending $ 18,524,783 $ 10,882,270 $ 6,424,590
Adjustment to reflect the consolidation of internal service
fund activities related to enterprise funds (20,855)
Change in net assets of business-type activities $ (215,187)
See Notes to Financial Statements.
-24-
Village of Oak Brook,Illinois _
Statement of Cash Flows- Proprietary Funds
Year Ended December 31,2009
Governmental
Business-Type Activities-Enterprise Funds Activities
Waterworks Sports Internal _
System Core Service
Fund Fund Total Funds
Cash flows from operating activities ._
Receipts from internal services transactions $ - $ - $ - $ 2,243,640
Receipts from customers and users 3,912,619 3,211,197 7,123,816 -
Receipts from miscellaneous revenue 46,042 70,176 116,218 1,005,156
Payments to suppliers (2,942,684) (1,392,322) (4,335,006) (3,029,871)
Payments to employees (686,162) (1,872,083) (2,558,245) (208,635)
Net cash provided by operating activities 329,815 16,968 346,783 10,290
Cash flows from capital and related financing activities
Principal paid on note payable (168,837) - (168,837) -
Capital assets purchased (371,450) (52,914) (424,364) (351,744)
Proceeds from sale of capital assets 2,000 - 2,000 44,775
Principal paid on installment contract payable - (200,000) (200,000) -
Advances from other funds for capital purposes - 205,000 205,000 ...
Interest paid (17,729) (17,729)
Net cash used in capital and related
financing activities (538,287) (65,643) (603,930) (306,969)
Cash flows from investing activities
Purchase of investments (8,079) (7,661) (15,740) (6,449)
Sale of investments 41,505 - 41,505 - _
Interest received 24,098 1,103 25,201 18,957
Net cash provided by(used in)investing activities 57,524 (6,558) 50,966 12,508
Net increase(decrease)in cash and
cash equivalents (150,948) (55,233) (206,181) (284,171)
Cash and cash equivalents-beginning 5,377,480 81,291 5,458,771 4,087,160 _
Cash and cash equivalents-ending $ 5,226,532 $ 26,058 $ 5,252,590 $ 3,802,989
Cash and investments
Cash and cash equivalents $ 5,226,532 $ 26,058 $ 5,252,590 $ 3,802,989
Investments 890,355 8,983 899,338 710,651
Total cash and investments $ 6,116,887 $ 35,041 $ 6,151,928 $ 4,513,640 .-.
(Continued)
-25-
Village of Oak Brook,Illinois
Statement of Cash Flows— Proprietary Funds-Continued
Year Ended December 31,2009
Governmental
Business-Type Activities-Enterprise Funds Activities
Waterworks Sports Internal
System Core Service
Fund Fund Total Funds
Reconciliation of operating income(loss)to
net cash provided by operating activities
Operating income(loss) $ (37,785) $ (167,746) $ (205,531) $ (189,719)
Depreciation and amortization 418,182 265,255 683,437 337,780
Adjustments to reconcile operating income(loss)
to net cash provided by operating activities:
Changes in assets and liabilities:
Accounts receivable (39,073) - (39,073) (6,383)
Other receivable 5,595 8,115 13,710 -
_ Inventories - (2,687) (2,687) 472
Prepaid expenses - - 873
Accounts payable (20,617) (5,641) (26,258) (36,003)
Accrued payroll and compensated
absences payable 3,513 (19,631) (16,118) (1,127)
Deposits payable - (46,575) (46,575) -
Deferred revenue (14,122) (14,122) 4,250
Claims payable - - - (99,853)
Total adjustments (50,582) (80,541) (131,123) (137,771)
Net cash provided by operating activities $ 329,815 $ 16,968 $ 346,783 $ 10,290
Noncash investing,capital,and finnacing activities:
During the fiscal year,the Water and Sewer Fund entered into an intergovernmental agreement with the State to construct
a water main costing$844,185. There was no down payment and one annual installment of$168,837 made before year-end
as reflected in the cash flow statement.
See Notes to Financial Statements.
-
-
-26-
Village of Oak Brook, Illinois
Statement of Fiduciary Net Assets-Pension Trust Funds
December 31, 2009 —'
Assets
Cash $ 530,920
Investments _
Illinois Funds 167,482
Money market 1,227,303
Certificates of deposit 708,930
U.S.treasury securities 5,186,090
U.S. agency securities 16,110,963
State and local obligations 3,048,612
Mutual funds 18,936,313
Stock equities 1,041,931
Accrued interest receivable 228,723
Total assets 47,187,267
Liabilities
Accounts payable 16,369
Net Assets Held in Trust for Pension Benefits $ 47,170,898
See Notes to Financial Statements.
-27-
Village of Oak Brook, Illinois
Statement of Changes in Fiduciary Net Assets•Pension Trust Funds
Year Ended December 31,2009
Additions
Contributions
Employer $ 1,798,191
Participants 542,846
2,341,037
Investment income
Net appreciation in fair
value of investments 3,572,163
Interest income 1,295,576
Less investment expense (100,146)
4,767,592
Total additions 7,108,630
Deductions
Administration 52,868
_ Pension benefits and refunds 3,352,764
Total deductions 3,405,632
Change in net assets 3,702,998
Net assets-beginning 43,467,900
Net assets-ending $ 47,170,898
See Notes to Financial Statements.
-28-
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 1. Summary of Significant Accounting Policies
The financial statements of the Village of Oak Brook, Illinois(the Village) have been prepared in conformity with ._
accounting principles generally accepted in the United States of America(hereinafter referred to as generally
accepted accounting principles(GAAP)), as applied to government units. The Governmental Accounting Standards
Board (GASB)is the accepted standard-setting body for establishing governmental accounting and financial reporting ..,
principles. The more significant of the Village's accounting policies are described below.
Financial Reporting Entity
The Village operates under a Village form of government with an elected Village President and Board of Trustees.
Operational management is provided by a professional Village Manager employed by the Board of Trustees.
Municipal services include police protection,fire protection, recreation facilities, a free public library,water supply,
storm water collection, public works operations, road maintenance, building and inspectional services and general
administrative services. As required by generally accepted accounting principles,these financial statements present
the Village(the primary government). There are no component units.
The Village's financial statements include the following pension trust funds:
Police Pension Employees Retirement System
The Village's police employees participate in the Police Pension Employees Retirement System(PPERS). PPERS _
functions for the benefit of these employees and is governed by its pension board. The Village and PPERS
participants are obligated to fund all PPERS costs based upon actuarial valuations.
The State of Illinois is authorized to establish benefit levels and the Village is authorized to approve the actuarial
assumptions used in the determination of contribution levels. Although it possesses many of the characteristics of a
legally separate government,the PPERS is reported as if it were part of the primary government because its sole
purpose is to finance and administer the pensions of the Village's police employees and because of the fiduciary
nature of such activities. The PPERS is reported as a pension trust fund.
Firefighters' Pension Employees Retirement System
The Village's firefighters participate in the Firefighters' Pension Employees Retirement System(FPERS). FPERS
functions for the benefit of these employees and is governed by its pension board. The Village and FPERS
participants are obligated to fund all FPERS costs based upon actuarial valuations.
The State of Illinois is authorized to establish benefit levels and the Village is authorized to approve the actuarial ..,
assumptions used in the determination of contribution levels. Although it possesses many of the characteristics of a
legally separate government,the FPERS is reported as if it was party of the primary government because its sole
purpose is to finance and administer the pensions of the Village's firefighters and because of the fiduciary nature of
such activities. The FPERS is reported as a pension trust fund.
- 29 -
Village of Oak Brook,Illinois
Notes to Financial Statements
Note 1. Summary of Significant Accounting Policies(Continued)
Fund Accounting
The Village uses funds to report on its financial position, results of its operations and cash flows. Fund accounting is
designed to demonstrate legal compliance and to aid financial management by segregating transactions related to
certain government functions or activities.
A fund is a separate accounting entity with a self-balancing set of accounts. The minimum number of funds is
maintained consistent with legal and managerial requirements. Funds are classified into the following categories:
governmental, proprietary and fiduciary.
Governmental funds are used to account for all or most of a government's general activities, including the collection
and disbursement of earmarked monies (special revenue funds), the acquisition or construction of general capital
assets(capital projects funds), and the servicing of general long-term debt(debt service funds). The General Fund is
used to account for all activities of the general government not accounted for in some other fund.
Proprietary funds are used to account for activities similar to those found in the private sector, where the
determination of net income is necessary or useful for sound financial administration. Goods or services from such
activities can be provided either to outside parties (enterprise funds) or to other departments or agencies primarily
within the government (internal service funds). Pursuant to GASB Statement No. 20, Accounting and Financial
Reporting for Proprietary Funds and Other Government Entities That Use Proprietary Fund Accounting, the Village
has.chosen to apply all GASB pronouncements as well as those FASB pronouncements issued on or before
November 30, 1989 to account for business-type activities and enterprise funds to the extent that those standards do
not conflict with or contradict guidance of the GASB. The Village also has the option of following subsequent private-
sector guidance for its business-type activities and enterprise funds, subject to this same limitation. The Village has
elected to follow only applicable GASB pronouncements after November 30, 1989.
Fiduciary funds are used to account for assets held on behalf of outside parties, including other governments, or on
behalf of other funds within the government. The Village utilizes pension trust funds which are generally used to
account for assets that the Village holds in a fiduciary capacity.
Government-wide and Fund Financial Statements
Government-wide Financial Statements:The government-wide Statement of Net Assets and Statement of
Activities report the overall financial activity of the Village. Eliminations have been made to minimize the double-
counting of internal activities of the Village. Interfund services provided and used are not eliminated in the process of
_ consolidation. The financial activities of the Village consist of governmental activities,which are primarily supported
by taxes and intergovernmental revenues, and business-type activities,which rely to a significant extent on fees and
charges for services.
The Statement of Net Assets presents the Village's non-fiduciary assets and liabilities with the difference reported in
three categories:
Invested in capital assets,net of related debt consists of capital assets, net of accumulated depreciation and
reduced by outstanding balances for bonds and other debt that are attributable to the acquisition,construction,or
improvement of those assets.
Restricted net assets result when constraints placed on net asset use are either externally imposed by creditors,
grantors, contributors,and the like, or imposed by law through constitutional provisions or enabling legislation.
- 30 -
Village of Oak Brook, Illinois _.
Notes to Financial Statements
Note 1. Summary of Significant Accounting Policies(Continued)
Unrestricted net assets consist of net assets that do not meet the criteria of the two preceding categories.
The Statement of Activities demonstrates the degree to which the direct expenses of a given function(i.e.general
government, public safety,etc.)are offset by program revenues. Direct expenses are those that are clearly
identifiable with a specific function. Program revenues include(a)charges paid by the recipients of goods or services
offered by the programs(including fines and fees), and(b)grants and contributions that are restricted to meeting the
operational requirements of a particular program. Revenues that are not classified as program revenues, including all
taxes, are presented as general revenues.
Fiduciary funds are excluded from the government-wide financial statements.
Fund Financial Statements:Separate financial statements are provided for governmental funds, proprietary funds
and fiduciary funds,even though the latter are excluded from the government-wide financial statements. The fund
financial statements provide information about the Village's funds. The emphasis of fund financial statements is on
major governmental funds,each displayed in a separate column.
The Village administers the following major governmental funds:
General Fund–This fund is the Village's primary operating fund. It accounts for all financial resources of the general
government,except those required to be accounted for in another fund.
Infrastructure Fund–This fund, a capital projects fund, is used to account for revenues and expenditures relative to
the construction and maintenance of roadway,drainage and bike trail improvements.
The Village administers the following major proprietary funds:
Waterworks System Fund–This fund accounts for the revenue and expenses relative to the operation of the water
utility.
Sports Core Fund– This fund accounts for the revenues and expenses relative to the operation of the Oak Brook
Sports Core.
Additionally, the Village reports the following internal service funds:
Internal Service Funds account for the Village's self-insured employee health and dental insurance program;the
operation and maintenance of the Village's vehicle fleet equipment, and the Village's capital replacement program,
which is provided to operating departments of the Village on a cost reimbursement basis.
The Village reports the following fiduciary funds:
—
The Village reports pension trust funds as fiduciary funds to account for the Police Pension Fund and the Firefighters'
Pension Fund.
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 1. Summary of Significant Accounting Policies(Continued)
Measurement Focus and Basis of Accounting and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources measurement focus and the
accrual basis of accounting, as are the enterprise funds, internal service funds, and fiduciary financial statements.
Revenues and additions are recorded when earned and expenses and deductions are recorded when a liability is
incurred. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the
provider have been met. Operating revenues/expenses include all revenues/expenses directly related to providing
enterprise and internal service fund services. Incidental revenues/expenses are reported as nonoperating.
Governmental fund financial statements are reported using the current financial resources measurement focus and
the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and
available. Revenues are considered to be available when they are collectible within the current period or soon
enough thereafter to pay liabilities of the current period. A sixty-day availability period is used for revenue recognition
for most governmental fund revenues except for sales tax and telecommunication tax which is 90 days. Expenditures
generally are recorded when a fund liability is incurred. However,debt service expenditures are recorded only when
payment is due by the end of the year.
Those revenues susceptible to accrual are sales taxes,certain taxes collected and held by the State at year-end on
behalf of the Village, certain charges for services and interest. Permit revenues are not susceptible to accrual
because generally they are not measurable until received in cash.
The Village reports deferred revenue on its financial statements. Deferred revenues arise when a potential revenue
does not meet both the"measurable"and"available"or"earned"criteria for recognition in the current period.
Deferred revenues also arise when resources are received by the Village before it has a legal claim to them,as when
grant monies are received prior to the incurrence of qualifying expenditures. In subsequent periods,when both
revenue recognition criteria are met,or when the Village has a legal claim to the resources,the liability for deferred
revenue is removed from the financial statements and revenue is recognized.
In applying the susceptible to accrual concept to intergovernmental revenues(i.e.,federal and state grants),the legal
and contractual requirements of the numerous individual programs are used as guidance. There are, however,
essentially two types of these revenues. In one, monies must be expended on the specific purpose or project before
any amounts will be paid to the Village;therefore, revenues are recognized based upon the expenditures/expenses
incurred. In the other, monies are virtually unrestricted as to purpose of expenditures/expenses and are generally
revocable only for failure to comply with prescribed eligibility requirements. These resources are reflected as
revenues at the time of receipt or earlier if they meet the eligibility criterion.
When both restricted and unrestricted resources are available for use, it is the government's policy to use restricted
resources first,then unrestricted resources as they are needed.
- 32 -
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 1. Summary of Significant Accounting Policies(Continued)
Cash and Cash Equivalents
For purposes of the statement of cash flows,the Village considers all highly liquid investments(including restricted
assets)with original maturities of three months or less when purchased to be cash equivalents. _
Investments
In accordance with Governmental Accounting Standards Board Statement No.31,Accounting and Financial
Reporting for Certain Investments and for External Investment Pools, non-negotiable certificates of deposit and
investments with maturities of less than one year at date of purchase, if any, are stated at amortized cost. All other
investments are stated at fair value. Fair value is based on quoted market prices for the same or similar investments.
All investments of the pension trust funds are also stated at fair value.
Inventories and Prepaid Items
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/expense 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.
Payments made to vendors for services that will benefit periods beyond the date of this report are recorded as
prepaid items/expenses.
Capital Assets
Capital assets,which include property, plant,equipment and infrastructure assets(e.g., roads, bridges,sidewalks and _
similar items),are reported in the applicable governmental or business-type activities columns in the government-
wide financial statements. Capital assets are defined by the Village as assets with an initial, individual cost of$5,000
or more and an estimated useful life in excess of one year.
The cost of normal maintenance and repairs, including street overlays that do not add to the value of the asset or
materially extend the asset lives, are not capitalized.
- 33 -
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 1. Summary of Significant Accounting Policies(Continued)
Capital Assets(Continued)
Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest incurred
during the construction phase of capital assets of business-type activities is included as part of the capitalized value
of the assets constructed. Property, plant and equipment are depreciated using the straight-line method over the
following estimated useful lives:
Assets Years
Land improvements 20
Buildings and building improvements 5-20
Equipment 5-20
Vehicles 2-20
Infrastructure 20-75
Compensated Absences
— Vested or accumulated vacation, sick or compensatory leave, including related social security and Medicare of
proprietary funds and governmental activities is recorded as an expense and liability of those funds as the benefits
accrue to employees. In accordance with the provisions of Governmental Accounting Standards Board Statement
No. 16,Accounting for Compensated Absences, no liability is recorded for nonvesting accumulating rights to receive
sick pay benefits. However, a liability is recognized for that portion of accumulating sick leave benefits that it is
estimated will be taken as a termination benefit at retirement.
Interfund Transactions
_ Interfund services are accounted for as revenues,expenditures or expenses. Transactions that constitute
reimbursements to a fund for expenditures/expenses initially made from it that are properly applicable to another fund,
are recorded as expenditures/expenses in the reimbursing fund and as reductions of expend itures/expenses in the
fund that is reimbursed.
All other interfund transactions,except interfund services transactions and reimbursements,are reported as transfers.
- 34 -
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 1. Summary of Significant Accounting Policies(Continued)
Interfund Receivables/Payables
Activity between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal
year are referred to as either"due to/from other funds"(i.e.,the current portion of interfund loans)or"advances
to/from other funds"(i.e.,the noncurrent portion of interfund loans). All other outstanding balances between funds are
reported as"due to/from other funds." Any residual balances outstanding between the governmental activities and
the business-type activities are reported in the government-wide financial statements as"internal balances."
Advances between funds, as reported in the fund financial statements,are offset by a fund balance reserve account
in applicable governmental funds to indicate that they are not available for appropriation and are'not expendable
available financial resources.
Long-Term Obligations
In the government-wide financial statements and proprietary funds in the fund financial statements, long-term debt
and other long-term obligations are reported as liabilities in the applicable governmental activities, business-type
activities or proprietary fund financial statements. Bond premiums and discounts, as well as issuance costs, are
deferred and amortized over the life of the bonds. Bonds payable are reported net of the applicable bond premium or
discount. Bond issuance costs are reported as deferred charges and amortized over the term of the related debt.
In the fund financial statements, governmental funds recognize bond premiums and discounts, as well as bond
issuance costs,during the current period. The face amount of debt issued is reported as other financing sources.
Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are
reported as other financing uses. Issuance costs,whether or not withheld from the actual debt proceeds received,
are reported as expenditures.
Fund Balance/Net Assets —
In the fund financial statements,governmental funds report reservations of fund balance for amounts that are not
available for appropriation or are legally restricted by outside parties for use for a specific purpose. Designations of
fund balance represent tentative management plans that are subject to change. In the government-wide financial
statements, restricted net assets are legally restricted by outside parties for a specific purpose. Invested in capital
assets, net of related debt, represents the Village's investments in the book value of capital assets, less any
outstanding debt that was issued to construct or acquire the capital asset.
Elimination and Reclassification
In the process of aggregating data for the government-wide Statement of Activities, some amounts reported as
interfund activity and interfund balances in the funds are eliminated or reclassified.
Use of Estimates
The preparation of the financial statements in conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported amounts of assets and liabilities and
disclosures of contingent assets and liabilities at the date of the financial statements,and the reported amount of
revenues and expenditures/expenses during the period. Actual results could differ from these estimates.
- 35 -
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 1. Summary of Significant Accounting Policies(Continued)
Reclassification of Certain Expenses
Certain expenses on the statement of changes in net assets for the year ended December 31, 2008 have been
reclassified,with no effect on the change in net assets,to be consistent with the classifications adopted for the year
ended December 31,2009.
Note 2. Cash and Investments
The Village maintains a cash and investment pool that is available for use by all funds,except the pension trust funds
and the Foreign Fire Insurance Tax Fund. Separately held cash and investments for the Foreign Fire Insurance Tax
Fund,as well as each fund's portion of this pool are included on the Statement of Net Assets as"cash and
investments." The deposits and investments of the pension trust funds are held separately from those of other funds.
The Village's cash on hand of$4,650 has been excluded from the amounts shown below.
Permitted Deposits and Investments—The Village's investment policy allows for deposits/investments in insured
commercial banks, savings and loan institutions,obligations of the U.S.Treasury and U.S.Agencies, insured credit
union shares, money market mutual funds with portfolios of securities issued or guaranteed by the United States or
agreement to repurchase these same obligations, repurchase agreements,short-term commercial paper rated within
the three highest classifications by at least two standard rating services, and Illinois Funds. The Police Pension Fund
and Firefighters' Pension Fund may also invest in certain non-U.S.obligations, Illinois municipal corporations tax
anticipation warrants, veteran's loans,obligations of the State of Illinois and its political subdivisions, insurance
company general and separate accounts, mutual funds, and equity securities.
_ Deposits
Custodial Credit Risk—Deposits. Custodial credit risk is the risk that in the event of a bank failure,the Village's
deposits may not be returned to it.
To guard against credit risk for deposits with financial institutions,the Village and Police and Firefighters' Pension
Funds' investment policies require that deposits with financial institutions in excess of FDIC insurance limits be
collateralized in an amount between 110%and 115%of the value of the investment depending on the type of security
pledged as collateral. In addition,the collateral must be held by a third party acting as the agent for the Village or
Pension Funds. At year-end the carrying amount of the Village's deposits totaled$263,574 and the bank balances
totaled$1,781,536. The Police and Fire Pension Funds'deposits totaled$530,920 and the bank balances totaled
$122,805. All bank balances are covered by federal depository insurance or by collateral held by the Village's agent
in the Village's name.
- 36 -
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 2. Cash and Investments(Continued)
Investments
The following schedule reports the fair values and maturities (using the segmented time distribution method) for the
Village's fixed income investments at December 31,2009:
Investment Maturities(in Years)
Fair Less Than Greater Than
Investment Type Value 1 Year 1-5 Years 6-10 Years 10 Years
IMET(1)(2) $ 5,982,929 $ - $ 5,982,929 $ - $ -
Illinois Funds(1)(2) 19,722,770 19,722,770 - -Total Investments $ 25,705,699 $ 19,722,770 $ 5,982,929 $ - $ -
As of December 31, 2009,the Police Pension Fund had the following fixed income investments and maturities.
Investment Maturities(in Years) _
Fair Less Than Greater Than
Value 1 Year 1-5 Years 6-10 Years 10 Years
U.S.Agencies $ 9,010,488 $ 1,137,188 $ 2,514,639 $ 3,545,594 $ 1,813,068
U.S.Treasuries 4,088,588 - 2,036,698 2,051,890 -
State and Local Obligations 1,084,388 - 601,119 483,269 -
Negotiable Certificate of Deposit 605,028 402,037 202,991 - -
Money Market Mutual Funds 903,541 903,541 -
Illinois Funds(1)(2) 27,897 27,897 - - -
Total Investments $ 15,719,930 $ 2,470,663 $ 5,355,447 $ 6,080,752 $ 1,813,068
—
As of December 31,2009,the Firefighters' Pension Fund had the following fixed income investments and maturities.
Investment Maturities(in Years)
Fair Less Than Greater Than
Value 1 Year 1-5 Years 6-10 Years 10 Years
U.S.Agencies $ 7,100,475 $ 556,442 $ 1,778,756 $ 3,791,653 $ 973,625 _
U.S.Treasuries 1,097,502 - 743,447 354,054 -
State and Local Obligations 1,964,224 463,329 207,047 1,088,879 204,969
Negotiable Certificate of Deposit 103,902 - 103,902 - -
Money Market Mutual Funds 323,762 323,762 - - -
Illinois Funds(1)(2) 139,585 139,585 - - -
Total Investments $ 10,729,450 $ 1,483,118 $ 2,833,152 $ 5,234,586 $ 1,178,594
(1)The Illinois Metropolitan Investment Fund(IMET)and The Illinois Funds Investment Pool(IFIP)are not registered
with the SEC. Oversight for IMET is provided by the IMET Board. The Board is responsible for policy formulation, as
well as policy and administration oversight. Oversight for IFIP is provided by the Auditor General's Office of the State
of Illinois. For both pools,the fair value of the positions in the pool is the same as the value of the pool shares.
(2) Based on weighted average maturity.
- 37 -
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 2. Cash and Investments(Continued)
Investments(Continued)
GASB 40—Operating Funds
In accordance with its investment policy,the Village limits its exposure to interest rate risk by structuring the portfolio
to provide liquidity for operating funds and maximizing yields for funds not needed within a one-year period. The
portion of the investment portfolio that is invested with the Illinois Metropolitan Investment Fund (IMET)has an
average maturity of 1.73 years and is subject to interest rate risk. The IMET Fund's duration,which is a measure of
interest rate risk, is 1.65 years as of December 31, 2009. This means that if interest rates were to increase by 1%,
the value of the IMET Fund would decrease by approximately 1.65%; conversely, if interest rates were to decrease by
1%,the value of the IMET Fund would increase by approximately 1.65%.
The Village limits its exposure to credit risk,which is the risk that the issuer of a debt security will not pay its par value
upon maturity. This is done primarily by investing in securities issued by the United States Government or by
_ investing in securities issued by agencies of the United States Government,which are implicitly guaranteed by the
United States Government. The Village has no formal policy relating to a specific investment-related risk.
The Illinois Funds and the IMET fund are both"AAA"rated funds by Standard &Poor's and have minimal exposure to
credit risk. In order to limit the exposure to concentration of credit risk,the Village's Investment Policy limits
investments in any one financial institution to 25%,exclusive of securities guaranteed by the full faith and credit of the
United States Government or obligations of agencies of the United States Government.
The Village limits its exposure to custodial credit risk by utilizing an independent,third party institution,selected by the
Village,to act as custodian for its securities and collateral. For an investment,custodial risk is the risk that, in the
event of the failure of the counterparty,the Village will not be able to recover the value of its investments or collateral
securities that are in the possession of an outside party.
GASB 40—Police Pension Fund
State statutes,as well as the investment policy of the Police Pension Fund provide that the Fund may invest up to
45%of the investment portfolio in equity investments and the remaining 55%of the portfolio in fixed income
securities. The Police Pension Fund has hired a fund manager, MB Financial,to advise and to manage both the fixed
income and equity investments portfolios.
The Police Pension Fund limits its exposure to interest rate risk by structuring the portfolio to provide liquidity in order
to fund current benefit payments while at the same time extending the average maturity of the investments due to the
longer term nature of the projected fund liabilities. As of December 31,2009,the fixed income portfolio had a
duration of 4.27 years and is subject to interest rate risk. With a duration of 4.27 years,this means that if interest
rates were to increase by 1%, the value of the fixed income investments would decrease by approximately 4.27%;
conversely, if interest rates were to decrease by 1%,the value of the fixed income investments would increase by
approximately 4.27%.
38 -
Village of Oak Brook,Illinois
Notes to Financial Statements
Note 2. Cash and Investments(Continued)
Investments(Continued)
GASB 40–Police Pension Fund(Continued)
The Police Pension Fund strives to limit its exposure to credit risk, which is the risk that the issuer of a debt security
will not pay the par value upon maturity. This is controlled by primarily investing in securities issued by the United
States Government,securities issued by agencies of the United States Government that carry an implicit guarantee, _
or high quality state or local obligations. United States Government and agency securities are considered to be
"AAA"rated and are generally considered free of credit risk due to the stability of the United States Government. For
investments in state and local obligations, 100%are considered to be"AAA". The Money Market Mutual Funds are
not rated. The Police Pension Fund has no formal policy relating to a specific investment-related risk.
At December 31,2009,the Police Pension Fund had greater than five percent of its fixed income portfolio invested in
obligations of the Federal Farm Credit Bureau(11.3%)and the Federal Home Loan Bank(39.9%). The investment
policy does not include any limitations on how much U.S.Treasury or Agency securities can be held in the portfolio.
The Police Pension Fund invests up to 45%of its investments in equity mutual funds. The Fund's investment policy ._
defines the strategy in which the Pension Board follows for the equity investments. The Pension Fund diversifies its
equity holdings by owning several different mutual funds allocated among the following asset classes subject to the
percentage limitations indicated:
Normal Range of
Allocation Allocation
U.S. Large Cap Stocks(may include some 55% +/- 25%
Mid-Cap Stocks)
U.S. Small-Cap Stocks(may include some 25% +/- 20%
Mid-Cap Stocks)
Foreign Securities 10% +/- 10%
Alternative Investments(including Real Estate) 10% +/- 10%
—
The Police Pension Fund limits its exposure to custodial risk by utilizing the Trust Department of MB Financial to act
as custodian for its fixed income securities. For an investment, custodial risk is the risk that, in the event of the failure
of the counterparty,the Police Pension Board will not be able to recover the value of its investments that are in the
possession of an outside party. _
GASB 40–Firefighters' Pension Fund
State statutes,as well as the investment policy of the Firefighters' Pension Board provide that the Fund may invest up
to 45%of the investment portfolio in equity investments and the remaining 55%of the portfolio in fixed income
securities. The Firefighters' Pension Fund has hired a fund manager, MB Financial,to advise and manage the fixed
income investments. For equity mutual fund investments,the Firefighters' Pension Fund utilizes the services of
Merrill Lynch.
-
- 39 -
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 2. Cash and Investments(Continued)
Investments(Continued)
GASB 40—Firefighters' Pension Fund(Continued)
The Firefighters' Pension Fund limits its exposure to interest rate risk by structuring the portfolio to provide liquidity in
order to fund current benefit payments while at the same time extending the average maturity of the investments due
to the longer term nature of the projected fund liabilities. As of December 31,2009,the fixed income portfolio had a
duration of 4.27 years and is subject to interest rate risk. With a duration of 4.27 years,this means that if interest
rates were to increase by 1%,the value of the fixed income investments would decrease by approximately 4.27%;
conversely, if interest rates were to decrease by 1%,the value of the fixed income investments would increase by
approximately 4.27%.
The Firefighters' Pension Fund strives to limit its exposure to credit risk,which is the risk that the issuer of a debt
security will not pay the par value upon maturity. This is controlled by primarily investing in securities issued by the
United States Government,securities issued by agencies of the United States Government that carry an implicit
guarantee, or high quality state or local obligations. United States Government and agency securities are considered
to be"AAA"rated and are generally considered free of credit risk due to the stability of the United States Government.
For investments in state and local obligations, 100%are considered to be"AAA"rated investments. The Money
Market Mutual Funds are not rated. The Firefighters' Pension Fund has no formal policy relating to a specific
investment-related risk.
At December 31,2009,the Firefighters' Pension Fund had greater than five percent of its fixed income portfolio
invested in obligations of the Federal Farm Credit Bureau(35.3%)and Federal Home Loan Bank(25.4%). The
investment policy does not include any limitations on how much U.S.Treasury or Agency securities can be held in the
portfolio.
The Firefighters' Pension Fund invests up to 45%of its investments in equity mutual funds. The Fund's investment
policy defines the strategy which the Pension Board follows for the equity investments. The Pension Fund diversifies
its equity holdings by owning several different mutual funds allocated among the following asset classes subject to the
percentage limitations indicated:
Normal Range of
Allocation Allocation
U.S. Large Cap Stocks 50% +/- 10%
U.S. Mid-Cap Stocks 20% +/- 10%
U.S. Small-Cap Company Stocks 15% +/- 10%
Foreign Securities 10% +/- 5%
_ Alternative Investments(such as Real Estate 5% +/- 5%
Mutual Funds)
- 40 -
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 2. Cash and Investments(Continued)
Investments(Continued)
GASB 40—Firefighters' Pension Fund(Continued)
The Firefighters' Pension Fund limits its exposure to custodial risk by utilizing the Trust Department of MB Financial
Bank to act as custodian for its fixed income securities. For an investment,custodial risk is the risk that, in the event
of the failure of the counterparty,the Firefighters' Pension Board will not be able to recover the value of its
investments that are in the possession of an outside party.
Note 3. Property Taxes
Property taxes for 2009 attach as an enforceable lien on January 1, 2009,on property values assessed as of the
same date. Taxes are levied by December 31 of the fiscal year by passage of a Tax Levy Ordinance. Tax bills are
prepared by the County and issued on or about May 1,2010 and August 1,2010 and are payable in two installments,
on our about June 1,2010 and September 1,2010. The County collects such taxes and remits them periodically.
The Village does not have a tax levy but does receive a share of road and bridge taxes from local Townships, as well
as incremental property taxes from the Butterfield/Myers Road Redevelopment Project Area(TIF). _
Note 4. Receivables
The following receivables are included in Other Receivables on the Statement of Net Assets as of December 31,
2009:
Governmental activities
State income tax $ 169,985
Hotel/motel tax 71,257 _
Circuit Court Fines 32,848
Grants 14,622
Other miscellaneous 31,127
Total governmental activities $ 319,839
Business-type activities
Grants $ 67 _
Members charge 37,077
Other miscellaneous 5,567
Total business-type activities $ 42,711
- 41 - ...
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 5. Capital Assets
Governmental Activities
A summary of changes in capital assets for governmental activities of the Village for the year ended December 31,
2009 is as follows:
Balance Balance
January 1 Additions Deletions December 31
Government activities:
Capital assets not being depreciated:
Land $ 616,829 $ - $ - $ 616,829
Land right of way 31,687,305 - - 31,687,305
Total capital assets not being depreciated 32,304,134 - - 32,304,134
Capital assets being depreciated:
Buildings, building and land improvements 18,790,353 20,833 - 18,811,186
Computer equipment 1,107,001 118,298 - 1,225,299
Other equipment 1,783,685 83,278 38,095 1,828,868
Vehicles 77,020 - - 77,020
Infrastructure 33,418,171 63,215 - 33,481,386
Internal service fund vehicles 5,507,482 351,745 235,888 5,623,339
60,683,712 637,369 273,983 61,047,098
Less accumulated depreciation for:
Buildings, building and land improvements 4,731,394 468,271 - 5,199,665
Computer equipment 852,585 83,372 - 935,957
_ Other equipment 1,300,756 113,541 - 1,414,297
Vehicles 76,662 4,423 38,095 42,990
Infrastructure 18,892,820 765,416 - 19,658,236
Internal service fund vehicles 3,272,923 337,780 214,332 3,396,371
29,127,140 1,772,803 252,427 30,647,516
Total capital assets being depreciated, net 31,556,572 (1,135,434) 21,556 30,399,582
Governmental activities capital assets, net $ 63,860,706 $ (1,135,434) $ 21,556 $ 62,703,716
—
- 42 -
—
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 5. Capital Assets(Continued)
Business-Type Activities
A summary of changes in capital assets for business-type activities of the Village for the year ended December 31,
2009 is as follows:
Balance Deletions Balance
January 1 Additions and Transfers December 31
Business-type activities:
Capital assets not being depreciated:
Land $ 8,292,266 $ - $ - $ 8,292,266
Construction in progress 46,598 165,291 28,074 183,815
Total capital assets not being depreciated 8,338,864 165,291 28,074 8,476,081
Capital assets being depreciated:
Land improvements 2,891,532 - - 2,891,532 _
Building and building improvements 5,727,411 15,484 - 5,742,895
Infrastructure 17,345,756 931,746 52,538 18,224,964
Vehicles, machinery and equipment 4,883,279 156,028 16,222 5,023,085
30,847,978 1,103,258 68,760 31,882,476
Less accumulated depreciation for:
Land improvements 2,019,380 63,781 - 2,083,161
Building and building improvements 2,219,850 116,430 - 2,336,280
Infrastructure 6,502,775 275,197 39,161 6,738,811
Vehicles, machinery and equipment 3,440,637 228,029 16,222 3,652,444 _
14,182,642 683,437 55,383 14,810,696
Total capital assets being depreciated, net 16,665,336 419,821 13,377 17,071,780 ._
Business-type activities capital assets, net $ 25,004,200 $ 585,112 $ 41,451 $ 25,547,861
- 43 - _
Village of Oak Brook, Illinois
Notes to Financial Statements
—• Note 5. Capital Assets(Continued)
Depreciation Charged to Functions/Programs
—
Depreciation was charged to functions/programs as follows:
General government $ 417,478
Public safety 395,455
Public works 825,011
Culture and recreation 134,859
$ 1,772,803
Construction Contracts
The Village has entered into contracts for the construction or renovation of various facilities as of December 31,2009,
as follows:
Project Expenses Unspent
Budget To-Date Balance
West 22nd St. Improvements $ 8,352,791 $ 8,352,791 $ -
2009 Paving design 69,272 46,575 22,697
Timber Trails Water Main Repl. 137,720 84,481 53,239
Totals $ 8,559,783 $ 8,483,847 $ 75,936
Note 6. Risk Management
The Village is exposed to various risks of loss related to torts;theft of, damage to, and destruction of assets;errors
and omissions; injuries to employees; illnesses of employees; and natural disasters.
The Village participates in the Intergovernmental Risk Management Agency(IRMA)which is an organization of
municipalities and special districts in Northeastern Illinois which have formed an association under the Illinois
Intergovernmental Cooperation's Statute to pool its risk management needs. The Village pays annual premiums to
IRMA for its workers'compensation,general liability and property coverage.
The Village assumes the first$2,500 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 its representation on the Board of Directors.
—
- 44 -
Village of Oak Brook,Illinois
Notes to Financial Statements
Note 6. 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. No such contributions have occurred during the past three years.
In addition, the Village provides medical and dental coverage to Village employees,their dependents, retirees,and
employees of the Oak Brook Park District through a limited self-insurance program. Through June 30,2009,the
Village was self-insured for the first$75,000 per individual for medical claims up to a maximum limit of$2,674,118 for
all individuals. As of July 1, 2009,the Village was self-insured for the first$75,000 per individual for medical claims _
up to a maximum limit of$2,703,918 for all individuals. Commercial insurance is carried for amounts in excess of the
self-insured amounts. Settlements did not exceed insurance coverage in any of the last three years. The Village is
entirely self-insured for dental claims up to the annual benefit limit of$1,500 per individual. The Village's self-
insurance activities are reported in the Self-Insurance Fund, an Internal Service Fund.
Premiums are paid into the Self-Insurance Fund by the departments of the General Fund and other funds, retirees, ._
the Oak Brook Park District, and COBRA participants based upon equivalent premium estimates. Liabilities are
reported when it is probable that a loss has occurred and the amount of the loss can be reasonably estimated.
Reported liabilities are estimated based on historical cost information and include an amount for claims that have _
been incurred but not reported. The total claim liability at year-end was$123,600.
A reconciliation of claims payable for the current year and that of the preceding year is as follows:
2009 2008
Claims payable, beginning of year $ 220,000 $ 150,000 _
Claims incurred and changes in estimates 1,853,669 2,211,816
Claims paid (1,950,069) (2,141,816)
Claims payable, end of year $ 123,600 $ 220,000
Note 7. Long-Term Obligations
Long-Term Obligations
The Village has issued installment contracts and notes to provide funds for the acquisition of capital assets. The
installment contracts and notes currently outstanding are as follows:
Fund
Debt Balance Balance Due Within
Retired by January 1 Additions Retirements December 31 One Year
General Fund Certificates,Series
1999 dated September 24,1999,
4.93%interest-bearing contract,
due in annual installments _
ranging from$70,000 to
$100,000 through September 15,
2009,interest payable March 15
and September 15 of each year, Sports
secured by sales and use taxes Core $ 100,000 $ - $ 100,000 $ - $ -
- 45 -
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 7. Long-Term Obligations(Continued)
Long-Term Obligations(Continued)
Fund
Debt Balance Balance Due Within
Retired by January 1 Additions Retirements December 31 One Year
General Fund Certificates,Series
2001 dated December 1,2000,
interest at 4.625%to 4.70%,due
in annual installments ranging
from$190,000 to$370,000
through December 1,2015,
interest payable June 1 and
December 1 of each year,secured
_ by sales and use taxes General $ 2,225,000 $ - $ 2,225,000 $ - $
General Fund Refunding
Certificates,Series 2003 dated
_
June,1,2003,interest at 1.50%to
3.20%,due in annual
installments ranging from
$65,000 to$125,000 through
December 1,2012,interest
payable June 1 and December 1
of each year,secured by sales Sports
and use taxes Core 425,000 - 100,000 325,000 100,000
General Fund Refunding
Certificates,series 2009 dated
July 15,2009,interest at 2.0%to
3.50%,due in annual
installments ranging from
$205,000 to$280,000 through
December 1,2017,interest
payable June 1 and December 1
of each year,secured by sales
and use taxes General - 2,280,000 205,000 2,075,000 245,000
Note payable to the Illinois Tollway
_ for the Intergovernmental Agree-
ment dated July 21,2009.Four
annual installments of$1,670,000 Infrastructure
payable June 15 and a lump sum and Waterworks - 7,508,606 1,501,163 6,007,443 1,501,234
payment by June 15,2013. System - 844,185 168,837 675,348 168,766
Total $ 2,750,000 $ 10,632,791 $ 4,300,000 $ 9,082,791 $ 2,015,000
- 46 -
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 7. Long-Term Obligations(Continued)
Debt Service Requirements to Maturity
Annual debt service requirements to maturity are as follows:
Installment Contracts Installment Contracts Note Payable*
Fiscal Year Payable from Payable from Enterprise Governmental Business-type _
Ending Governmental Activities Fund Activities Activities
December 31, Principal Interest Principal Interest Principal Principal
2010 $ 245,000 $ 54,375 $ 100,000 $ 10,100 $ 1,501,234 $ 168,766
2011 245,000 49,475 100,000 7,100 1,501,234 168,766
2012 250,000 44,575 125,000 4,000 1,501,234 168,766
2013 255,000 39,575 - - 1,503,741 169,050
2014 260,000 33,838 - - - - _
2015 265,000 26,688 - - - -
2016 275,000 18,738 - - - -
2017 280,000 9,800 - - - -
Totals $ 2,075,000 $ 277,063 $ 325,000 $ 21,200 $ 6,007,443 $ 675,348
*Non-interest bearing note
Changes in Long-Term Liabilities
During the fiscal year,the following changes occurred in long-term liabilities reported in the governmental activities:
Balance Balance Due Within _
January 1 Additions Retirements December 31 One Year
Installment Contracts payable $ 2,225,000 $ 2,280,000 $ 2,430,000 $ 2,075,000 $ 245,000
Note payable - 7,508,606 1,501,163 6,007,443 1,501,234
Compensated absences* 873,433 885,883 830,280 929,036 929,036
Compensated absences
Internal Service Fund 9,198 9,322 9,198 9,322 9,322
Total governmental activities $ 3,107,631 $ 10,683,811 $ 4,770,641 $ 9,020,801 $ 2,684,592
*The compensated absences for governmental activities typically have been liquidated by the General Fund and
Infrastructure Fund.
- 47 -
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 7. Long-Term Obligations(Continued)
During the fiscal year,the following changes occurred in long-term liabilities reported in the business-type activities:
Balance Balance Due Within
January 1 Additions Retirements December 31 One Year
Installment contracts payable $ 525,000 $ - $ 200,000 $ 325,000 $ 100,000
Note payable - 844,185 168,837 675,348 168,766
Compensated absences 99,566 82,625 99,566 82,625 82,625
Total business-type activities $ 624,566 $ 926,810 $ 468,403 $ 1,082,973 $ 351,391
Legal Debt Margin
2008 assessed valuation (latest information available) $ 1,787,048,929
Legal debt limit-8.625%of assessed valuation $ 154,132,970
Amount of debt applicable to debt limit(installment contracts) 2,400,000
Legal debt margin $ 151,732,970
General Fund Refunding Certificates
_ On July 15,2009,the Village refunded and defeased in substance its outstanding 2001 General Fund Certificates in
the amount of$2,225,000. The cash flow to service the old debt was$2,611,927 and the cash flow to service the
new debt is$2,579,153 for a savings of$32,774. The refunding resulted in an economic gain of$105,488.
- 48 -
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 8. Interfund Accounts
Advances from/to other funds
Receivable Fund Payable Fund Amount
General Fund Sports Core $ 1,495,000
The purpose of this amount advanced to the Sports Core Fund from the General Fund was to finance various capital
projects and operating needs during 1996-2003 and 2009.
A reimbursement of$68,980 was received from the General Fund by the T.I.F. Fund for its allocation of sales tax as
required to be used by the T.I.F. Fund in accordance with the T.I.F.development agreement.
Internal balances of$629,835 reported on the Statement of Net Assets between governmental activities and
business-type activities represent the amount of internal service funds allocation to business-type activities.
Note 9. Contingent Liabilities
Litigation
The Village is a defendant in various lawsuits. Although the outcome of these lawsuits is not presently determinable,
in the opinion of the Village's attorney,the resolution of these matters will not have a material adverse effect on the
financial condition of the Village.
In addition,the Village may become responsible for certain legal costs associated with other lawsuits. It is possible,
but not probable,that the Village will become liable for these costs. No liability,therefore, has been recorded on the ..,
financial statements for this litigation.
Grants
Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies,
principally the federal government. Any disallowed claims, including amounts already collected, may constitute a
liability of the applicable funds. The amount, if any,of expenditures which may be disallowed by the grantor cannot
be determined at this time although the Village expects such amounts, if any,to be immaterial.
DuPage Water Commission
The Village's agreement with the DuPage Water Commission provides that each member is liable for its proportionate
share of any cost arising from defaults in payment obligations by other members.
- 49 -
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 9. Contingent Liabilities(continued)
Redevelopment Agreement
The Village entered into a redevelopment agreement with a developer dated June 6,2005,whereby the Village has
agreed to reimburse the developer for certain costs associated with the redevelopment project within the tax
increment financing(TIF)#1 Butterfield-Meyers Road Redevelopment Project Area. The agreement requires the
Village to reimburse the developer up to$4,250,000, if certain requirements of the redevelopment agreement are met.
The$4,250,000 is in the form of a note payable issued on January 2,2008 to the developer that is payable from
certain incremental revenues of the TIF with interest payable at 8.00%from the date of issuance through maturity.
The note is secured by the pledge of 100%of the incremental real estate taxes from the Redevelopment Project Area
and 20%of the incremental sales taxes within the Redevelopment Project Area. The note is a limited obligation of
the Village subject only to the amounts of pledged revenues through February 1, 2023. Developer payments of
$325,000 were made in 2009.
Municipal Infrastructure Maintenance Fees
From January 1, 1998 through December 31,2000,the Village imposed a municipal telecommunications
infrastructure maintenance fee(IMF)on persons in the business of transmitting,supplying or furnishing
telecommunications and all associated services(e.g.,telecommunications retailers) in Illinois for the"use of public
right-of-ways." The fee was authorized by state statute(35 ILCS 635). In March 2001, a wireless
telecommunications provider brought action against an Illinois government challenging the constitutionality of the
municipal telecommunications infrastructure maintenance fee. The Illinois Supreme Court(Court)found the IMF to
be unconstitutional as applied to wireless carriers. The Court's decision held upon appeal. Potential damages to the
Village under this case precedent could aggregate the total of amounts remitted to the Village for IMF by all carriers
during the period from January 1, 1998 through December 31, 2000. This money was spent in 2009.
Note 10. Defined Benefit Pension Plans
The Village contributes to four defined benefit pension plans,the Illinois Municipal Retirement Fund(IMRF), an agent-
multiple-employer public employee retirement system;the Sheriffs Law Enforcement Personnel(also administered by
IMRF), an agent multiple-employer retirement system;the Police Pension Plan,which is a single-employer pension
plan; and the Firefighters' Pension Plan,which is also a single-employer pension plan. The benefits, benefit levels,
employee contributions and employer contributions for all four plans are governed by Illinois Compiled Statutes and
can only be amended by the Illinois General Assembly. IMRF issues a publicly available report that includes financial
statements and supplementary information for the plan as a whole, but not for individual employers. That report can
be obtained from IMRF, 2211 York Road, Suite 500, Oak Brook, Illinois 60523.
- 50 -
Village of Oak Brook,Illinois
Notes to Financial Statements
Note 10. Defined Benefit Pension Plans(Continued)
Plan Descriptions
Illinois Municipal Retirement Fund
Plan Description:The Village's defined benefit pension plan for regular employees provides retirement and disability
benefits, post retirement increases,and death benefits to plan members and beneficiaries. The Village plan is
affiliated with the Illinois Municipal Retirement Fund(IMRF), an agent multiple-employer plan. Benefit provisions are
established by statute and may only be changed by the General Assembly of the State of Illinois. IMRF issues a
publicly available financial report that includes financial statements and required supplementary information. That
report may be obtained on-line at www.imrf.on
Funding Policy.,As set by statute, regular plan members are required to contribute 4.50 percent of their annual
covered salary. The statutes require employers to contribute the amount necessary, in addition to member
contributions,to finance the retirement coverage of its own employees. The Village contribution rate for calendar year
2009 was 10.27 percent of annual covered payroll. The Village also contributes for disability benefits,death benefits
and supplemental retirement benefits, all of which are pooled at the IMRF level. Contribution rates for disability and
death benefits are set by the IMRF Board of Trustees,while the supplemental retirement benefits rate is set by
statute.
Funded Status and Funding Progress:As of December 31, 2009, the most recent actuarial valuation date,the regular _
plan was 65.80 percent funded. The actuarial accrued liability for benefits was$14,603,710 and the actuarial value of
assets was$9,609,171, resulting in an underfunded actuarial accrued liability(UAAL)of$4,994,539. The covered
payroll(annual payroll of active employees covered by the plan)was$6,567,736 and the ratio of the UAAL to the
covered payroll was 76 percent.
The schedule of funding progress, presented as RSI following the notes to the financial statements, presents multi-
year trend information about whether the actuarial value of plan assets is increasing or decreasing over time relative
to the actuarial accrued liability for benefits.
Sheriffs Law Enforcement Personnel
Plan Description:The Village's defined benefit pension plan for Sheriffs Law Enforcement Personnel employees
provides retirement and disability benefits, post retirement increases, and death benefits to plan members and ...
beneficiaries. The plan is affiliated with the Illinois Municipal Retirement Fund (IMRF),an agent multiple-employer
plan. Benefit provisions are established by statute and may only be changed by the General Assembly of the State of
Illinois. IMRF issues a publicly available financial report that includes financial statements and required
supplementary information. That report may be obtained on-line at www.imrf.org.
Funding Policy.As set by statute,the Sheriffs Law Enforcement Personnel plan members are required to contribute
7.50 percent of their annual covered salary. The statutes require employers to contribute the amount necessary, in
addition to member contributions,to finance the retirement coverage of its own employees. The Village contribution
rate for calendar year 2009 was 11.71 percent of annual covered payroll. The Village also contributes for disability
benefits,death benefits and supplemental retirement benefits,all of which are pooled at the IMRF level. Contribution
rates for disability and death benefits are set by the IMRF Board of Trustees,while the supplemental retirement
benefits rate is set by statute.
- 51 - ..
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 10. Defined Benefit Pension Plans(Continued)
Sheriffs Law Enforcement Personnel(Continued)
Funded Status and Funding Progress:As of December 31, 2009,the most recent actuarial valuation date,the
Sheriffs Law Enforcement Personnel plan was 81.47 percent funded. The actuarial accrued liability for benefits was
$248,486 and the actuarial value of assets was$202,440, resulting in an underfunded actuarial accrued liability
(UAAL)of$46,046. The covered payroll(annual payroll of active employees covered by the plan)was$126,795 and
the ratio of the UAAL to the covered payroll was 36 percent.
The schedule of funding progress, presented as RSI following the notes to the financial statements, presents multi-
year trend information about whether the actuarial value of plan assets is increasing or decreasing over time relative
to the actuarial accrued liability for benefits.
Police Pension Plan
Police sworn personnel are covered by the Police Pension Plan. Although this is a single-employer pension plan,the
defined benefits and employee and employer contribution levels are governed by Illinois Compiled Statutes(40 ILCS
5/3-1)and may be amended only by the Illinois legislature. The Village accounts for the plan as a pension trust fund.
There is no separate report issued for the Plan. At December 31,2009,the Police Pension Plan membership
consisted of:
_ Retirees and beneficiaries currently receiving benefits 32
Terminated employees entitled to benefits but not
yet receiving them 1
Current employees
Vested 29
Nonvested 12
Total 74
- 52 -
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 10. Defined Benefit Pension Plans(Continued)
Police Pension Plan (Continued)
The Police Pension Plan provides retirement benefits,as well as death and disability benefits. Covered employees
attaining the age of 50 or more with 20 or more years of creditable service are entitled to receive an annual retirement
benefit equal to one-half of the salary attached to the rank held on the last day of service, or for one year prior to the
last day,whichever is greater. The annual benefit shall be increased by 2.50%of such salary for each additional year
of service over 20 years up to 30 years to a maximum of 75.00%of such salary. Employees with at least eight years
but less than 20 years of credited service may retire at or after age 60 and receive a reduced benefit. The monthly
pension of a police officer who retired with 20 or more years of service after January 1, 1977 shall be increased
annually,following the first anniversary date of retirement and upon reaching the age of 55, by 3%of the original
pension and 3%annually thereafter. If the retiree is not yet 55, no increase is made until reaching age 55,at which
time the increase is one twelfth(1/12)of 3%for each full month that the retiree has been receiving a pension.
Employees are required by ILLS to contribute 9.91%of their base salary to the Police Pension Plan. If an employee
leaves covered employment with less than 20 years of service, accumulated employee contributions may be refunded
without accumulated interest. Benefits and refunds are recognized when due and payable in accordance with the _
terms of the plan. The costs of administering the plan are financed through investment earnings. The Village is
required to contribute the remaining amounts necessary to finance the plan as actuarially determined by an enrolled
actuary. Effective July 1, 1993, the Village has until the year 2033 to fully fund the past service cost for the Police
Pension Plan. For the year ended December 31, 2009,the Village's contribution was 27.92%of covered payroll. i
Firefighters' Pension Plan
Fire sworn personnel are covered by the Firefighters' Pension Plan. Although this is a single-employer pension plan,
the defined benefits and employee and employer contribution levels are governed by Illinois Compiled Statutes(40
ILLS 5/4-1)and may be amended only by the Illinois legislature. The Village accounts for the plan as a pension trust
fund. There is no separate report issued for the Plan. At December 31,2009,the Firefighters' Pension Plan
membership consisted of:
Retirees and beneficiaries currently receiving benefits 49
Terminated employees entitled to benefits but not
yet receiving them
Current employees
Vested 15
Nonvested 17
Total 81
- 53 -
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 10. Defined Benefit Pension Plans(Continued)
Firefighters' Pension Plan(Continued)
The Firefighters' Pension Plan provides retirement benefits, as well as death and disability benefits. Covered
employees attaining the age of 50 or more with 20 or more years of creditable service are entitled to receive an
annual retirement benefit of one-half of the monthly salary attached to the rank held in the fire service at the date of
retirement. The monthly pension shall be increased by 1/12 of 2.50%of such monthly salary for each additional
month over 20 years of service through 30 years of service to a maximum of 75.00%of such monthly salary.
Employees with at least ten years but less than 20 years of credited service may retire at or after age 60 and receive
a reduced retirement benefit. The monthly pension of a firefighter who retired with 20 or more years of service after
January 1, 1977 shall be increased annually,following the first anniversary date of retirement and upon reaching at
least the age of 55, by 3%of the original pension and 3%annually thereafter. If not 55, no increase is granted to the
retiree until reaching age 55, at which time the increase is one twelfth(1/12)of 3%for each full month that the
pension was received prior to reaching age 55.
Covered employees are required to contribute 9.455%of their base salary to the Firefighters' Pension Plan. If an
employee leaves covered employment with less than 20 years of service, accumulated employee contributions may
be refunded without accumulated interest. Benefits and refunds are recognized when due and payable in accordance
with the terms of the plan. The costs of administering the plan are financed through investment earnings. The Village
is required to finance the plan as actuarially determined by an enrolled actuary. Effective July 1, 1993,the Village has
until the year 2033 to fully fund the past service costs for the Firefighters' Pension Plan. For the year ended
December 31, 2009,the Village's contribution was 32.62%of covered payroll.
Significant Investments
At December 31,2009,the Police Pension Fund had greater than five percent of its fixed income portfolio invested in
obligations of the Federal Farm Credit Bureau(11.3%)and the Federal Home Loan Bank(39.9%). The investment
policy does not include any limitations on how much U.S.Treasury or Agency securities can be held in the portfolio.
There were no investments in any one organization that represent 5.00%or more of plan net assets for the
Firefighters' Pension Plans. Information for the IMRF and SLEP is not available.
- 54 -
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 10. Defined Benefit Pension Plans(Continued)
Annual Pension Costs
Employer contributions have been determined as follows:
Illinois
Municipal
Retirement _
and
Sheriff's
Law
Enforcement Police Firefighters' _
Personnel Pension Pension
Actuarial Valuation Date December 31, December 31, December 31,-
2009 2009 2009
Actuarial Cost Method Entry Age Entry Age Entry Age
Normal Normal Normal
Asset Valuation Method Five-Year Market Market
Smoothed
Market
Amortization Method Level Percent- Level Percent- Level Percent-
age of Payroll age of Payroll age of Payroll
Remaining Amortization Period 23 Years, 24 Years, 24 Years,
Closed Closed Closed
Significant Actuarial Assumptions
(a) Rate of Return on Investment of 7.50% 7.00% 7.00% ...
Present and Future Assets Compounded Compounded Compounded
Annually Annually Annually
(b) Projected Salary Increases- 4.00% 4.00% 4.00%
Attributable to Inflation Compounded Compounded Compounded
Annually Annually Annually
(c) Additional Projected Salary
Increases-Attributable to 0.4%to 10% Not Available Not Available _
Seniority/Merit
(d) Post-retirement benefit increases 3.00%Annually 3.00% 3.00%
Annually Annually
- 55 -
Village of Oak Brook,Illinois
Notes to Financial Statements
_ Note 10. Defined Benefit Pension Plans(Continued)
Annual Pension Costs
Sheriff
Illinois Law Fire-
Calendar Municipal Enforcement Police fighters'
Year Retirement Personnel Pension Pension
_ Annual Pension Cost 2007 $ 638,242 $ 14,207 $ 564,283 $ 564,945
(APC) 2008 726,369 15,076 617,619 671,683
2009 674,506 14,848 958,641 839,550
Actual Contribution 2007 $ 638,242 $ 14,207 $ 564,283 $ 564,945
2008 726,369 15,076 617,619 671,683
2009 674,506 14,848 958,641 839,550
Percent Contributed 2007 100.00% 100.00% 100.00% 100.00%
2008 100.00% 100.00% 100.00% 100.00%
2009 100.00% 100.00% 100.00% 100.00%
Net Pension Obligation 2007 - - - -
2008 - - - -
2009 - - - -
Funded Status and Funding Progress
The following is funded status information for the Police Pension Plan and the Firefighters' Pension Plan as of
December 31,2009.
- 56 -
Village of Oak Brook,Illinois
Notes to Financial Statements
Note 10. Defined Benefit Pension Plans(Continued)
Funded Status and Funding Progress
As of December 31,2009:
Actuarial _
Actuarial Accrued UAAL
Value Liability Percentage
of (AAL) Unfunded Funded Covered of Covered
Assets Entry Age AAL Ratio Payroll Payroll
Plan (a) (b) (b)-(a) (a)/(b) (c) ((b-a)/c)
Police Pension $ 26,391,636 $ 36,801,319 $ 10,409,683 71.7 % $ 3,433,002 303.2 %
Firefighters' Pension 20,779,262 32,813,804 12,034,542 63.3 2,573,691 467.6
The schedule of funding progress, presented as RSI following the notes to the financial statements, presents multi-
year trend information about whether the actuarial value of plan assets is increasing or decreasing over time relative
to the actuarial accrued liability for benefits.
Summary Financial Information
The following is a summary financial information for the Police and Firefighters' Pension Plans as of December 31,
2009.
Pension Trust _
Police Firefighters'
Pension Trust Pension Total
Assets
Cash $ 305,378 $ 225,542 $ 530,920
Investments
Illinois Funds 27,897 139,585 167,482
Money market 903,541 323,762 1,227,303
Certificates of deposit 605,028 103,902 708,930
U.S. treasury securities 4,088,588 1,097,502 5,186,090
U.S. agency securities 9,010,488 7,100,475 16,110,963
State and local obligations 1,084,388 1,964,224 3,048,612
Mutual funds 9,207,374 9,728,939 18,936,313
Stock equities 1,041,931 - 1,041,931
Accrued interest receivable 127,867 100,856 228,723 _
Total assets 26,402,480 20,784,787 47,187,267
Liabilities
Accounts payable 10,843 5,526 16,369
Net assets held in trust for
pension plan benefits $ 26,391,637 $ 20,779,261 $ 47,170,898
- 57 -
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 10. Defined Benefit Pension Plans(Continued)
Summary Financial Information (Continued)
Statement of Changes in Plan Net Assets for the year ended December 31,2009:
Pension Trust
Police Firefighters'
Pension Pension Total
Additions
Contributions
Employer $ 958,641 $ 839,550 $ 1,798,191
Participants 316,883 225,963 542,846
1,275,524 1,065,513 2,341,037
_ Investment income
Net appreciation in fair value
of investments 1,801,161 1,771,002 3,572,163
Interest income 702,812 592,764 1,295,576
Less investment expenses (73,003) (27,143) (100,146)
2,430,970 2,336,623 4,767,592
Total additions 3,706,494 3,402,136 7,108,630
Deductions
Administration 25,806 27,062 52,868
Pension benefits and refunds 1,638,301 1,714,463 3,352,764
Total deductions 1,664,106 1,741,526 3,405,632
Change in net assets 2,042,388 1,660,610 3,702,998
Net assets-beginning 24,349,249 19,118,651 43,467,900
Net assets-ending $ 26,391,637 $ 20,779,261 $ 47,170,898
58 -
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 11. Other Post-Employment Benefits(OPEB)
(a) Plan Description
The Village is an administrator of a single-employer plan that provides certain health insurance benefits to retirees
and disabled employees. In accordance with Village policy and State law, employees become eligible for these
benefits(1)if they reach normal retirement age under the applicable pension statute and have at least 10 years of
Village service,or(2)if they become eligible for a duty-related disability pension or an occupational disease pension.
The Village allows these employees to participate in the Village's insurance programs on a 100% participant-paid
basis,with the Village providing no direct payment subsidy.
For certain disabled employees who qualify for health insurance benefits under the Public Safety Employee Benefits
Act(PSEBA),the Village is required to pay 100%of the cost of basic health insurance for the employee and their
dependents for their lifetime. As of December 31, 2009,the Village has two disabled retirees receiving benefits under
this Statute.
The Village does not issue stand-alone financial reports for its other post-employment benefit plan.
(b) Funding Policy
The Village funds other post-employment benefits on a pay-as-you-go basis. For fiscal year 2009,the Village's
annual other post-employment benefits cost was$101,585. The Village's required contributions of$100,374 were
determined as part of the December 31,2009 actuarial valuation. For fiscal year 2009,the Village's contribution was --
$137,854.
(c) Significant Actuarial Assumptions
Actuarial valuations involve estimates of the value of reported amounts and assumptions about the probability of events far
into the future,and that actuarially determined amounts are subject to continual revision as actual results are compared to
past expectations and new estimates are made about the future.
The required schedule of funding progress immediately following the notes to the financial statements presents multiyear
trend information about whether the actuarial value of plan assets is increasing or decreasing over time relative to the
actuarial accrued liability for benefits.
Projections of benefits are based on the types of benefits provided under the terms of the substantive plan at the time of _
each valuation and on the pattern of sharing of costs between the employer and plan members to that point.
Actuarial calculations reflect a long-term perspective and consistent with that perspective,actuarial methods and
assumptions used include techniques that are designed to reduce short-term volatility in actuarial accrued liabilities and
the actuarial value of assets.
- 59 -
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 11. Other Post-Employment Benefits(OPEB)(Continued)
(c) Significant Actuarial Assumptions(Continued)
The information presented in the notes and the required supplementary schedules was determined as part of the actuarial
valuations dated December 31, 2009. Additional information as of the latest actuarial valuation follows:
Actuarial Cost Method Entry Age
Method Used to Determine Actuarial Value of Assets Market Value
Amortization Method and period Level Percentage of Pay-Open
30 Years
Significant Actuarial Assumptions
(a) Rate of Return on Investment of Present and 5.00% compounded annually
Future Assets*
(b) Projected Salary Increases—Attributable to 5.00%
Inflation
_ (c) Healthcare Inflation Rate 8%initial
6% ultimate
(d) Mortality,Turnover, Disability, Retirement Same rates utilized for IMRF, Police,
Ages and Firefighters' Pension funds
(e) Employer Provided Benefit Implicit: 40%of Premium to age 65
Explicit(PSEBA eligible disabled
pensioners): 100%of Premium to age 65
*Includes inflation at 3.00% 3.00%
(d) Annual OPEB Cost and Net OPEB Obligation (Asset)
The information presented in the notes and the required supplementary schedules was determined as part of the
actuarial valuations dated December 31,2009. Additional information as of the latest actuarial valuation available
follows:
_ Annual required contribution $ 100,374
Interest on net OPEB obligation 736
Adjustment to annual required contribution 475
Annual OPEB cost 101,585
Contribution made 137,854
Decrease in net OPEB obligation (36,269)
Net OPEB obligation beginning of year 14,727
Net OPEB obligation(asset)end of year $ (21,542)
- 60 -
Village of Oak Brook, Illinois
Notes to Financial Statements
Note 11. Other Post-Employment Benefits(OPEB)(Continued)
(e) Funding Status
The funded status of the plan as of December 31, 2009,was as follows:
Unfunded
Actuarial
Accrued
Liability
as a _
Actuarial Unfunded Percentage
Value Actuarial Actuarial of Annual
of Accrued Accrued Funded Covered Covered
Fiscal Assets Liability Liability Ratio Payroll Payroll
Year (a) (b) (b)-(a) (a)/(b) (c) ((b-a)I c)
12/31/09 $ - $ 3,108,091 $ 3,108,091 - % $ 13,426,525 N/A
(f) Trend Information
Percentage
Annual of Annual Net OPEB
Fiscal Year OPEB OPEB Cost Obligation
Ending Cost Contributed (Asset)
12/31/2009 $ 101,585 135.7 $ (21,542)
12/31/2008 103,689 85.8% 14,727
- 61 - _
Village of Oak Brook,Illinois
Notes to Financial Statements
Note 12 . Termination Benefits
In fiscal year 2009, the Village eliminated 24 positions as part of a reduction in work force. All of the termination
benefits were paid out in fiscal year 2009. The total cost for the termination benefits was$652,000.
Note 13 . New Governmental Accounting Standards
The Governmental Accounting Standards Board (GASB)has issued the following statements:
Statement No. 51,Accounting and Financial Reporting for Intangible Assets,which establishes accounting and
financial reporting requirements for intangible assets. All intangible assets not specifically excluded by the scope of
this Statement should be classified as capital assets. All existing authoritative guidance for capital assets should be
applied to these intangible assets, as applicable. This Statement will become effective for the year ending
December 31, 2010.
Statement No. 53,Accounting and Financial Reporting for Derivative Instruments, will be effective for the Village
beginning with its year ending December 31,2010.This Statement addresses the recognition, measurement, and
disclosure of information regarding derivative instruments entered into by state and local governments.
Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions, was issued to enhance the
usefulness of fund balance information by providing clearer fund balance classifications and by clarifying the existing
fund type definitions. This Statement establishes fund balance classifications that comprise a hierarchy based
primarily on the extent to which a government is bound to observe constraints imposed on the use of the resources
reported in governmental funds. The Village is required to implement this Statement for the fiscal year ending
December 31, 2011.
Management has not currently determined what impact, if any,these Statements may have on its financial
statements.
- 62 -
REQUIRED SUPPLEMENTARY INFORMATION
Village of Oak Brook, Illinois
Required Supplementary Information
Schedule of Revenues, Expenditures,and Changes in Fund Balance -
Budget and Actual-General Fund
Year Ended December 31,2009
Variance with
Final Budget
Original Final Positive
Budget Budget Actual (Negative)
_ Revenues
Intergovernmental $ 12,488,000 $ 12,488,000 $ 10,889,339 $ (1,598,661)
Utility taxes 4,975,000 4,975,000 4,922,115 (52,885)
_ Licenses and permits 845,350 845,350 741,380 (103,970)
Charges for services 1,007,900 1,007,900 695,630 (312,270)
Fines and penalties 375,500 375,500 313,395 (62,105)
_ Investment income 190,000 190,000 62,286 (127,714)
Miscellaneous 347,000 347,000 398,540 51,540
Total revenues 20,228,750 20,228,750 18,022,685 (2,206,065)
Expenditures
Current
General government 5,046,495 5,029,565 4,673,598 355,967
Public safety 12,392,105 12,392,105 11,457,038 935,067
Public works 804,965 873,045 553,025 320,020
Culture and recreation 1,393,800 1,393,800 1,222,972 170,828
Debt service
Principal 205,000 205,000 205,000 -
Interest 95,600 95,600 95,415 185
Capital outlay 497,500 446,350 356,625 89,725
Total expenditures 20,435,465 20,435,465 18,563,673 1,871,792
Excess(deficiency)of revenues
over expenditures (206,715) (206,715) (540,988) (334,273)
Other financing sources(uses)
Debt issuance - - 2,280,000 2,280,000
Debt issuance premium - - 8,861 8,861
Payment to refunded bond escrow
agent - - (2,250,850) (2,250,850)
Total other financing sources(uses) - - 38,011 38,011
Net change in fund balance $ (206,715) $ (206,715) (502,977) $ (296,262)
Fund balance-beginning 12,785,830
Fund balance-ending $ 12,282,853
See Note to Required Supplementary Information.
-63-
Village of Oak Brook,Illinois —
Required Supplementary Information
Analysis of Funding Progress
December 31,2009
Illinois Municipal Retirement Fund '—
UAAL as a
(1) (2) (2)—(1) Percentage of —
Actuarial Actuarial Actuarial Accrued Unfunded (1)/(2) (3) Covered
Valuation Value of Liability(AAL) AAL Funded Covered Payroll
Date Assets Entry Age (UAAL) Ratio Payroll ((2-1)/3) _
2009 $ 9,609,171 $ 14,603,710 $ 4,994,539 65.80 % $ 6,567,736 76.05
2008 11,511,641 16,564,067 5,052,426 69.50 7,142,269 70.74
2007 13,391,125 15,455,482 2,064,357 86.64 6,395,211 32.28
2006 12,350,563 14,160,884 1,810,321 87.22 6,036,741 29.99
2005 11,795,220 13,314,605 1,519,385 88.59 5,829,743 26.06
2004 10,795,206 12,381,519 1,586,313 87.19 5,707,616 27.79
On a market value basis,the actuarial value of assets as of December 31,2009 is$9,182,384. On a market basis,the funded ratio
would be 62.88%.
Sheriff's Law Enforcement Personnel
UAAL as a —
(1) (2) (2)—(1) Percentage of
Actuarial Actuarial Actuarial Accrued Unfunded (1)/(2) (3) Covered
Valuation Value of Liability(AAL) AAL Funded Covered Payroll
Date Assets Entry Age (UAAL) Ratio Payroll ((2-1)/3) —
2009 $ 202,440 $ 248,486 $ 46,046 81.47 % $ 126,795 36.32
2008 187,175 218,844 31,669 85.53 129,968 24.37
2007 64,632 28,962 (35,670) 223.16 120,808 (29.53) _
2006 40,982 4,052 (36,930) 1,011.40 115,531 (31.97)
2005 17,968 (17,180) (35,148) (104.59) 66,502 (52.85)
2004 7,999 (4,983) (12,982) (160.53) 42,231 (30.74)
On a market value basis,the actuarial value of assets as of December 31,2009 is$198,575. On a market basis,the funded ratio
would be 79.91%.
-64-
Village of Oak Brook,Illinois
Required Supplementary Information
Analysis of Funding Progress(continued)
December 31,2009
Police Pension Fund
UAAL as a
(1) (2) (2)—(1) Percentage of
Actuarial Actuarial Actuarial Accrued Unfunded (1)/(2) (3) Covered
Valuation Value of Liability(AAL) AAL Funded Covered Payroll
Date Assets Entry Age (UAAL) Ratio Payroll ((2-1)13)
2009 $ 26,391,636 $ 36,801,319 $ 10,409,683 71.71 % $ 3,433,002 303.22 %
2008 24,349,249 35,266,292 10,917,043 69.04 3,314,574 329.36
2007 27,827,838 32,129,429 4,301,591 86.61 3,180,282 135.26
2006 26,414,388 30,625,818 4,211,430 86.25 3,162,857 133.15
2005 24,752,561 28,683,431 3,930,870 86.30 2,984,609 131.70
2004 24,157,442 27,106,938 2,949,496 89.12 2,808,631 105.02
Firefighters'Pension Fund
UAAL as a
(1) (2) (2)—(1) Percentage of
Actuarial Actuarial Actuarial Accrued Unfunded (1)/(2) (3) Covered
Valuation Value of Liability(AAL) AAL Funded Covered Payroll
Date Assets Entry Age (UAAL) Ratio Payroll ((2-1)13)
2009 $ 20,779,262 $ 32,813,804 $ 12,034,542 63.32 % $ 2,573,691 467.60 %
2008 19,118,652 31,239,022 12,120,370 61.20 2,804,818 432.13
2007 22,473,402 28,968,184 6,494,782 77.58 2,582,069 251.53
_ 2006 21,567,521 27,373,120 5,805,599 78.79 2,563,057 226.51
2005 20,053,194 26,016,602 5,963,408 77.08 2,439,899 244.41
2004 19,395,277 24,131,120 4,735,843 80.37 2,298,601 206.03
-65-
Village of Oak Brook,Illinois -
Required Supplementary Information
Employer Contributions -
December 31,2009
Illinois Municipal Retirement Fund
Actuarial Annual
Valuation Employer Required Percentage -
Date Contributions Contribution Contributed
2009 $ 674,506 $ 674,506 100 %
2008 726,369 726,369 100 -
2007 638,242 638,242 100
2006 577,112 577,112 100
2005 557,323 557,323 100 -
2004 500,558 500,558 100
Sheriffs Law Enforcement Personnel
Actuarial Annual
Valuation Employer Required Percentage
Date Contributions Contribution Contributed _
2009 $ 14,848 $ 14,848 100 %
2008 15,076 15,076 100
2007 14,207 14,207 100 _
2006 15,562 15,562 100
2005 8,958 8,958 100
2004 5,688 5,688 100
Police Pension Fund
Actuarial Annual
Valuation Employer Required Percentage
Date Contributions Contribution Contributed
2009 $ 958,641 $ 958,641 100 %
2008 617,619 617,619 100
2007 564,283 564,283 100
2006 549,750 549,750 100
2005 497,650 497,650 100
2004 449,652 449,652 100
Firefighters'Pension Fund
Actuarial Annual
Valuation Employer Required Percentage
Date Contributions Contribution Contributed
2009 $ 839,550 $ 839,550 100 % -
2008 671,683 671,683 100
2007 564,945 564,945 100
2006 584,388 584,388 100
2005 490,244 490,244 100
2004 490,612 490,612 100
-66-
Village of Oak Brook, Illinois
Other Post-Employment Benefits
Required Supplementary Information
Analysis of Funding Progress
December 31, 2009
Unfunded
Actuarial
Accrued
Liability
as a
Actuarial Unfunded Percentage
Value Actuarial Actuarial of Annual
Actuarial of Accrued Accrued Funded Covered Covered
Valuation Assets Liability Liability Ratio Payroll Payroll
Date (a) (b) (b)-(a) (a)/(b) (c) ((b-a)/c)
12/31/2009 $ - $ 3,108,091 $ 3,108,091 $ - N/A N/A
12/31/2008 - 1,746,352 1,746,352 - N/A N/A
Note: The Village implemented Statement No.45 in FY2008.
-67-
Village of Oak Brook, Illinois —
Other Post-Employment Benefits
Required Supplementary Information
Employer Contributions —
December 31,2009
Actuarial Annual Percentage of Net _
Valuation OPEB Annual OPEB Cost OPEB
Date Cost Contributed Obligation
12/31/2009 $ 101,585 135.7% $ (21,542)
12/31/2008 103,689 85.8 14,727
Note: The Village implemented Statement No.45 in FY2008. -
-68-
Village of Oak Brook, Illinois
Note to Required Supplementary Information
Note 1. Budgetary Basis of Accounting
Budgets are generally adopted on a basis consistent with generally accepted accounting principles. Annual budgets are
adopted for the General, Special Revenue and Capital Projects Funds on the modified accrual basis. Enterprise, Internal
Service and Pension Trust Funds are on the accrual basis and a current financial resources measurement focus except
that the Village does not budget depreciation and they do budget capital outlay. The annual budget is legally enacted
and provides for a legal level of control at the program level. All annual appropriations lapse at fiscal year-end.
The Village follows these procedures in establishing the budgetary data reflected in the financial statements:
1. All departments of the Village submit budget requests to the Budget Officer so that a budget may be prepared.
2. The Village manager submits to the Village Board of Trustees a proposed operating budget for the fiscal year
commencing the following January 1. The operating budget includes proposed expenditures and the means of
financing them.
3. A public hearing is conducted by the Village to obtain resident comments.
4. Subsequently,the budget is adopted by the Village Board.
5. Annual budgets are adopted on a basis consistent with generally accepted accounting principles.
6. Formal budgetary integration is employed as a management control device during the year for all funds of the
Village.
7. Appropriations lapse at year-end.
8. The Village Manager and Budget Officer are authorized to transfer budgeted amounts between line items within
any program; however,any revisions that alter the total expenditures of any program or fund must be approved
by the Village Board. The level of legal control is the individual program budget in total.
9. Budgeted amounts are as originally adopted with the exception of approved transfers which were not material in
relation to the budgets taken as a whole. After Village Board transfers, no program had an excess of
expenditures/expenses,exclusive of depreciation and amortization over budget for the fiscal year.
-69-
MAJOR GOVERNMENTAL FUNDS
MAJOR GOVERNMENTAL FUNDS
General Fund—to account for resources traditionally associated with governments which are not required to
be accounted for in another fund.
Infrastructure Fund—to account for revenues and expenditures relative to the construction and maintenance
of roadways, drainage and safety pathway systems.
Village of Oak Brook,Illinois -
General Fund
Schedule of Revenues-Budget and Actual -
Year Ended December 31,2009
2009
Variance with
Final Budget -
Original Final Positive 2008
Budget Budget Actual (Negative) Actual
Intergovernmental
Municipal sales tax $ 11,150,000 $ 11,150,000 $ 9,748,649 $ (1,401,351) $ 10,813,046
Illinois state income and use tax 961,000 961,000 809,948 (151,052) 957,392
Corporate personal property
replacement taxes 330,000 330,000 271,548 (58,452) 317,411
York Township road and bridge tax 37,000 37,000 33,226 (3,774) 34,740
Grants 10,000 10,000 25,968 15,968 24,334 -
Total intergovernmental 12,488,000 12,488,000 10,889,339 (1,598,661) 12,146,923
Utility taxes 4,975,000 4,975,000 4,922,115 (52,885) 4,520,563 -
Licenses and permits 845,350 845,350 741,380 (103,970) 720,847
Charges for services 1,007,900 1,007,900 695,630 (312,270) 839,504
Fines and penalties 375,500 375,500 313,395 (62,105) 345,937 _
Investment income 190,000 190,000 62,286 (127,714) 350,594
Miscellaneous
Franchise fees 130,000 130,000 140,428 10,428 131,926
Donations - - 500 500 -
Other 217,000 217,000 257,612 40,612 259,180
Total miscellaneous 347,000 347,000 398,540 51,540 391,106
Total revenues $ 20,228,750 $ 20,228,750 $ 18,022,685 $ (2,206,065) $ 19,315,474
-70- -
Village of Oak Brook,Illinois
General Fund
Schedule of Expenditures-Budget and Actual
Year Ended December 31,2009
2009
Variance with
Final Budget
Original Final Positive 2008
Budget Budget Actual (Negative) Actual
General government
Legislative and general management
Board of trustees
Personnel $ 70,185 $ 63,065 $ 63,588 $ (523) $ 69,326
Materials and supplies 2,650 2,650 1,025 1,625 3,975
Operation and contractual 74,500 109,210 108,943 267 86,327
Total board of trustees 147,335 174,925 173,556 1,369 159,628
Village clerk
Personnel 242,120 239,710 245,894 (6,184) 235,642
Materials and supplies 3,450 3,450 1,908 1,542 1,965
Operation and contractual 21,675 21,675 11,448 10,227 12,461
Capital - - - - 5,274
Total village clerk 267,245 264,835 259,250 5,585 255,342
Legal
Personnel 18,660 18,660 18,242 418 22,670
Materials and supplies 185 185 - 185 133
Operation and contractual 392,060 371,545 371,696 (151) 449,999
Total legal 410,905 390,390 389,938 452 472,802
General management
_ Personnel 336,580 326,150 308,164 17,986 319,352
Materials and supplies 1,900 1,900 919 981 1,120
Operation and contractual 57,190 39,690 35,636 4,054 54,095
Total general management 395,670 367,740 344,719 23,021 374,567
Human resources
Personnel 253,700 211,915 212,371 (456) 191,458
Materials and supplies 1,450 1,450 2,268 (818) 1,334
Operation and contractual 170,000 253,170 244,217 8,953 233,242
Total human resources 425,150 466,535 458,856 7,679 426,034
_ Risk management
Personnel 62,905 62,905 53,744 9,161 54,665
Operation and contractual 833,400 822,960 822,589 371 731,169
Total risk management 896,305 885,865 876,333 9,532 785,834
(Continued)
-71-
Village of Oak Brook,Illinois
- General Fund
Schedule of Expenditures-Budget and Actual(Continued)
Year Ended December 31,2009
2009
Variance with
Final Budget
Original Final Positive 2008
Budget Budget Actual (Negative) Actual
General government(continued)
Community development management
Personnel $ 273,920 $ 268,385 $ 254,588 $ 13,797 $ 291,568
Materials and supplies 1,025 1,025 173 852 332
Operation and contractual 28,950 34,485 32,615 1,870 44,784
Total community development
management 303,895 303,895 287,376 16,519 336,684
Code enforcement
Personnel 400,990 400,990 360,230 40,760 359,314
Materials and supplies 5,110 5,110 1,287 3,823 1,991
Operation and contractual 45,075 45,075 39,037 6,038 24,303
Total code enforcement 451,175 451,175 400,554 50,621 385,608
Total community development
management 755,070 755,070 687,930 67,140 722,292
Financial services
Financial services management
Personnel 168,620 143,935 76,241 67,694 168,186
Materials and supplies 550 550 595 (45) 552
Operation and contractual 27,200 27,200 24,724 2,476 22,846
Total financial services management 196,370 171,685 101,560 70,125 191,584
Accounting and reporting
Personnel 424,490 424,490 397,401 27,089 397,007
Materials and supplies 8,200 8,200 2,720 5,480 9,546
Operation and contractual 25,480 25,480 22,672 2,808 24,780
Total accounting and reporting 458,170 458,170 422,793 35,377 431,333
PSEBA benefits
Personnel 29,200 29,200 27,832 1,368 30,425
Total financial services 683,740 659,055 552,185 106,870 653,342
(Continued)
-73-
Village of Oak Brook,Illinois -
General Fund
Schedule of Expenditures-Budget and Actual(Continued)
Year Ended December 31,2009
2009 _
Variance with
Final Budget
Original Final Positive 2008
Budget Budget Actual (Negative) Actual -
General government(continued)
Engineering and capital projects
Municipal building improvements
Operation and contractual $ 8,000 $ 8,000 $ - $ 8,000 $ 5,258
Capital 189,500 189,500 132,773 56,727 73,307
Total engineering and capital projects 197,500 197,500 132,773 64,727 78,565
Expenditure reimbursements paid to
other funds 208,300 208,300 201,385 6,915 316,200
Subtotal general government 5,783,395 5,715,315 5,378,653 336,662 5,577,467
Less reimbursements from other funds (272,400) (272,400) (348,430) 76,030 (261,000)
Total general government 5,510,995 5,442,915 5,030,223 412,692 5,316,467
Public safety
Police department -
Police services management
Personnel 465,470 465,470 432,679 32,791 449,117
Materials and supplies 4,000 4,000 1,627 2,373 2,282 _
Operation and contractual 70,535 70,535 56,076 14,459 88,147
Total police services management 540,005 540,005 490,382 49,623 539,546
Police field services
Personnel 3,849,875 3,849,875 3,750,969 98,906 3,820,817
Materials and supplies 60,175 60,175 34,684 25,491 53,976
Operation and contractual 257,785 257,785 240,641 17,144 308,639
Total police field services 4,167,835 4,167,835 4,026,294 141,541 4,183,432 -
Police general support
Personnel 408,680 408,680 392,647 16,033 318,658 -
Materials and supplies 35,925 35,925 23,388 12,537 29,753
Operation and contractual 3,000 3,000 1,487 1,513 1,133
Total police general support 447,605 447,605 417,522 30,083 349,544
(Continued)
-74-
Village of Oak Brook,Illinois
General Fund
Schedule of Expenditures-Budget and Actual(Continued)
Year Ended December 31,2009
2009
Variance with
Final Budget
Original Final Positive 2008
Budget Budget Actual (Negative) Actual
Public safety(continued)
Police department(continued)
Police investigations
Personnel $ 745,170 $ 761,510 $ 754,841 $ 6,669 $ 778,020
Materials and supplies 11,050 11,050 6,361 4,689 4,732
Operation and contractual 14,240 14,240 13,410 830 12,967
Total police investigations 770,460 786,800 774,612 12,188 795,719
Police communications center
Personnel 877,005 860,665 741,986 118,679 874,300
Materials and supplies 7,200 7,200 2,878 4,322 4,906
Operation and contractual 23,000 23,000 5,566 17,434 8,701
Capital 33,000 33,000 - 33,000 11,442
Total police communications center 940,205 923,865 750,430 173,435 899,349
Police records
Personnel 192,495 192,495 173,804 18,691 185,115
Materials and supplies 7,000 7,000 3,908 3,092 3,420
Operation and contractual 12,580 12,580 12,500 80 9,212
Total police records 212,075 212,075 190,212 21,863 197,747
Total police department 7,078,185 7,078,185 6,649,452 428,733 6,965,337
Fire Department
Fire and EMS general salaries
Personnel 4,092,945 4,092,945 3,706,345 386,600 3,783,442
(Continued)
-75-
Village of Oak Brook,Illinois
General Fund
Schedule of Expenditures-Budget and Actual(Continued) _
Year Ended December 31,2009
2009
Variance with _
Final Budget
Original Final Positive 2008
Budget Budget Actual (Negative) Actual
Public safety(continued)
Fire department(continued)
Fire services management
Personnel $ 374,795 $ 374,795 $ 332,493 $ 42,302 $ 442,377
Materials and supplies 6,055 6,055 1,556 4,499 1,900
Operation and contractual 8,125 8,125 5,827 2,298 5,572
Total fire services management 388,975 388,975 339,876 49,099 449,849
Rescue and fire operation
Personnel 13,045 13,045 17,011 (3,966) 13,290
Materials and supplies 54,730 54,730 23,476 31,254 49,421
Operation and contractual 170,160 170,160 162,200 7,960 181,771
Capital - - - - 10,328
Total rescue and fire operation 237,935 237,935 202,687 35,248 254,810
Special teams operations
Materials and supplies 5,000 5,000 4,336 664 8,046
Operation and contractual 6,180 6,180 4,270 1,910 5,901
Total special teams operations 11,180 11,180 8,606 2,574 13,947
Rescue and fire training
Personnel 32,215 32,215 24,901 7,314 29,841
Materials and supplies 1,000 1,000 129 871 46
Total rescue and fire training 33,215 33,215 25,030 8,185 29,887
Emergency medical services
Personnel 51,875 51,875 35,190 16,685 48,222
Materials and supplies 13,525 13,525 10,116 3,409 12,178
Operation and contractual 484,270 484,270 479,736 4,534 474,825
Capital - - - 29,705
Total emergency medical services 549,670 549,670 525,042 24,628 564,930
(Continued)
-76-
Village of Oak Brook,Illinois
General Fund
Schedule of Expenditures-Budget and Actual(Continued)
Year Ended December 31,2009
2009
Variance with
Final Budget
Original Final Positive 2008
Budget Budget Actual (Negative) Actual
Public safety(continued)
Fire department(continued)
Prevention and public education
Personnel $ $ $ $ $ 183,924
Materials and supplies 2,686
Operation and contractual 11,643
Total prevention and public education - 198,253
Total fire department 5,313,920 5,313,920 4,807,586 506,334 5,295,118
Total public safety 12,392,105 12,392,105 11,457,038 935,067 12,260,455
Public works
Mosquito control
Operational and contractual 66,430 66,430 68,090 (1,660) 76,832
Buildings and grounds
Personnel 93,015 93,015 87,570 5,445 92,756
Materials and supplies 42,610 42,610 31,575 11,035 38,228
Operation and contractual 283,695 283,695 206,523 77,172 250,161
Total buildings and grounds 419,320 419,320 325,668 93,652 381,145
Forestry
Personnel 14,485 14,485 (69) 14,554 9,620
Materials and supplies 9,510 9,510 671 8,839 1,290
Operation and contractual 295,220 363,300 158,665 204,635 107,413
Capital - - - - 9,100
Total forestry 319,215 387,295 159,267 228,028 127,423
Total public works 804,965 873,045 553,025 320,020 585,400
(Continued)
-77-
Village of Oak Brook,Illinois _
General Fund
Schedule of Expenditures•Budget and Actual(Continued)
Year Ended December 31,2009
2009 _
Variance with
Final Budget
Original Final Positive 2008
Budget Budget Actual (Negative) Actual _
Culture and recreation
Library general operations
Personnel $ 467,990 $ 467,990 $ 433,546 $ 34,444 $ 461,793
Materials and supplies 16,620 16,620 9,881 6,739 25,373
Operation and contractual 109,320 109,320 85,134 24,186 99,124
Capital - - - - 26,105
Total library general operations 593,930 593,930 528,561 65,369 612,395
Library technical services
Personnel 182,855 182,855 176,265 6,590 178,770
Materials and supplies 4,000 4,000 3,170 830 7,055
Operation and contractual 9,025 9,025 8,192 833 9,604
Total library technical services 195,880 195,880 187,627 8,253 195,429
Library reference and adult services
Personnel 219,895 219,895 180,113 39,782 212,311
Materials and supplies 120,985 120,985 99,516 21,469 133,279
Operation and contractual 3,800 3,800 2,300 1,500 7,933
Total library reference and
adult services 344,680 344,680 281,929 62,751 353,523
Library youth services
Personnel 216,190 216,190 197,286 18,904 213,774
Materials and supplies 40,120 40,120 26,069 14,051 53,312
Operation and contractual 3,000 3,000 1,500 1,500 4,884
Total library youth services 259,310 259,310 224,855 34,455 271,970
Total culture and recreation 1,393,800 1,393,800 1,222,972 170,828 1,433,317
Debt service 300,600 300,600 300,415 185 377,200
Total expenditures $ 20,402,465 $ 20,402,465 $ 18,563 673 $ 1,838,792 $ 19,972,839
-78-
Village of Oak Brook,Illinois
Infrastructure Fund
Schedule of Revenues,Expenditures and
Changes in Fund Balance-Budget and Actual
Year Ended December 31,2009
2009
Variance with
Final Budget
Original Final Positive 2008
Budget Budget Actual (Negative) Actual
Revenues
Intergovernmental-grants $ 56,545 $ 56,545 $ 402 $ (56,143) $ 65,978
Non-home rule sales tax 5,125,000 5,125,000 4,410,438 (714,562) 4,897,114
_ Investment income 42,000 42,000 10,039 (31,961) 42,497
Miscellaneous - - 5,040 5,040 -
Total revenues 5,223,545 5,223,545 4,425,919 (797,626) 5,005,589
_ Expenditures
Public works
Geographic information systems
Personnel 1,000 1,000 50 950
Materials and supplies 1,000 1,000 654 346
Operation and contractual 166,675 169,900 169,899 1
Capital outlay 7,180 7,180 6,490 690
Total geographic information systems 175,855 179,080 177,093 1,987 -
Management
Personnel 360,765 355,885 347,146 8,739 403,721
Materials and supplies 1,700 1,700 1,595 105 980
Operation and contractual 112,025 112,025 108,011 4,014 101,160
Total management 474,490 469,610 456,752 12,858 505,861
Streets-general salaries
'- Personnel 726,740 733,175 732,282 893 742,375
Materials and supplies 4,480 4,480 3,308 1,172 2,607
Operation and contractual 2,005 2,005 3,140 (1,135) 1,807
Total streets-general salaries 733,225 739,660 738,730 930 746,789
Streets and traffic maintenance
Materials and supplies 32,890 28,110 13,706 14,404 23,389
Operation and contractual 329,330 329,330 288,068 41,262 310,584
Capital outlay 15,000 15,000 - 15,000 -
Total streets and traffic maintenance 377,220 372,440 301,774 70,666 333,973
Snow removal
Personnel 59,025 59,025 59,692 (667) 104,685
Materials and supplies 167,000 167,000 143,415 23,585 137,981
Operation and contractual 74,540 74,540 68,540 6,000 101,456
Capital outlay 5,000 5,000 - 5,000 -
Total snow removal 305,565 305,565 271,647 33,918 344,122
_ Drainage maintenance
Materials and supplies 2,900 2,900 3,932 (1,032) 2,574
Operation and contractual 65,655 65,655 60,448 5,207 55,820
Total drainage maintenance 68,555 68,555 64,380 4,175 58,394
(Continued)
-79-
Village of Oak Brook,Illinois _
Infrastructure Fund
Schedule of Revenues,Expenditures and _
Changes in Fund Balance-Budget and Actual(Continued)
Year Ended December 31,2009
2009
Variance with
Final Budget
Original Final Positive 2008
Budget Budget Actual (Negative) Actual
Expenditures(continued)
Public works(continued)
Safety pathway maintenance
Materials and supplies $ 12,775 $ 12,775 $ 3,103 $ 9,672 $ 269
Operation and contractual 105,840 33,915 25,840 8,075 25,905
Total safety pathway maintenance 118,615 46,690 28,943 17,747 26,174 _
Engineering and capital projects
Engineering
Personnel 469,920 512,820 503,068 9,752 461,188
Materials and supplies 1,970 1,970 932 1,038 904
Operation and contractual 22,720 22,720 8,871 13,849 25,828
Capital outlay 10,000 10,000 - 10,000
Total engineering 504,610 547,510 512,871 34,639 487,920
Roadway improvements
Operation and contractual 127,000 127,000 102,258 24,742 91,539
Intergovernmental agreements - - 7,508,606 (7,508,606) - _
Capital outlay 3,188,000 3,145,100 582,570 2,562,530 15,838
Total roadway improvements 3,315,000 3,272,100 8,193,434 (4,921,334) 107,377
Stormwater management improvements
Operation and contractual 56,000 56,000 4,777 51,223 11,107
Capital outlay 104,500 104,500 49,091 55,409 43,459
Total stormwater management
improvements 160,500 160,500 53,868 106,632 54,566
Safety pathway improvements
Operation and contractual 12,000 12,000 - 12,000 -
Capital outlay 55,500 55,500 55,500
Total Safety pathway improvements 67,500 67,500 - 67,500
Note payment - - 1,501,163 (1,501,163) -
Expenditure reimbursement paid to other funds 26,700 98,625 98,625 22,136
Subtotal expenditures 6,327,835 6,327,835 12,399,280 (6,071,445) 2,687,312
Less reimbursements from other funds (354,800) (354,800) (354,780) (363,400)
Total expenditures 5,973,035 5,973,035 12,044,500 (6,071,445) 2,323,912
Excess(deficiency)of revenues over
expenditures (749,490) (749,490) (7,618,581) (6,869,091) 2,681,677
Other financing sources
Note proceeds 7,508,606 7,508,606 -
Net change in fund balance $ (749,490) $ (749,490) (109,975) $ 639,515 2,681,677 -
Fund balance-beginning 4,792,595 2,110,918
Fund balance-ending $ 4,682,620 $ 4,792,595
-80- _
NONMAJOR GOVERNMENTAL FUNDS
NONMAJOR GOVERNMENTAL FUNDS
Special Revenue Funds
Hotel/Motel Tax Fund—to account for local hotel/motel tax receipts restricted for promoting tourism and
conventions in the Village.
Motor Fuel Tax Fund—to account for State Gasoline Tax Allocations restricted for local roadway program
expenditures.
Foreign Fire Insurance Tax Fund—to account for Foreign Fire Insurance tax revenue restricted for the
purchase of items for the benefit of the fire department.
Capital Proiects Fund
Promenade T.I.F. Fund—to account for the revenues and expenditures relative to the Tax Increment
Financing district located at 22nd and Meyers Road.
Village of Oak Brook, Illinois
Nonmajor Governmental Funds
Combining Balance Sheet
December 31,2009
Nonmajor Funds
Special Revenue Funds Capital Total _
Foreign Fire Projects Fund Nonmajor
Hotel/Motel Motor Fuel Insurance Promenade Governmental
Tax Tax Tax T.I.F. Funds
Assets
Cash and investments $ 2,158,385 $ 598,031 $ 170,858 $ 225,075 $ 3,152,349 _
Receivables -
Allotments - 17,901 - - 17,901
Other, hotel/motel tax 71,257 - - - 71,257 _
Total assets $ 2,229,642 $ 615,932 $ 170,858 $ 225,075 $ 3,241,507
Liabilities
Accounts payable $ 29,856 $ - $ - $ - $ 29,856
Fund Balances
Unreserved 2,199,786 615,932 170,858 225,075 3,211,651
Total liabilities and fund balances $ 2,229,642 $ 615,932 $ 170,858 $ 225,075 $ 3,241,507
-81 - _
Village of Oak Brook,Illinois
Nonmajor Governmental Funds
Combining Statement of Revenues,Expenditures
and Changes in Fund Balances
Year Ended December 31,2009
Nonmajor Funds
Special Revenue Funds Capital Total
Foreign Fire Projects Fund Nonmajor
HoteVMotel Motor Fuel Insurance Promenade Governmental
Tax Tax Tax T.I.F. Funds
Revenues
Property tax $ $ - $ - $ 347,393 $ 347,393
Intergovernmental - 222,860 60,388 - 283,248
Sales tax - - - - -
HoteVmotel taxes 882,649 - - - 882,649
Investment income 5,920 1,578 319 203 8,020
Total revenues 888,569 224,438 60,707 347,596 1,521,310
Expenditures
General government - - 258,851 258,851
Public safety - - 39,643 - 39,643
Culture and recreation 373,468 - - - 373,468
Total expenditures 373,468 - 39,643 258,851 671,962
Net change in fund balances 515,101 224,438 21,064 88,745 849,348
Fund balances-beginning 1,684,685 391,494 149,794 136,330 2,362,303
Fund balances-ending $ 2,199,786 $ 615,932 $ 170,858 $ 225,075 $ 3,211,651
-82-
Village of Oak Brook, Illinois —
Hotel/Motel Tax Fund
Schedule of Revenues,Expenditures,and Changes in —
Fund Balance –Budget and Actual
Year Ended December 31,2009
2009
Variance with
Original and Final Budget —
Final Positive 2008
Budget Actual (Negative) Actual
Revenues
Hotel/motel taxes $ 1,260,000 $ 882,649 $ (377,351) $ 1,137,614
Investment income 10,000 5,920 (4,080) 31,081 —
Total revenues 1,270,000 888,569 (381,431) 1,168,695
Expenditures —
Current
Culture and recreation 2,284,000 361,068 1,922,932 566,343
Expenditure reimbursement paid —
to other funds 12,400 12,400 - 12,000
Total expenditures 2,296,400 373,468 1,922,932 578,343
Net change in fund balance $ (1,026,400) 515,101 $ 1,541,501 590,352
Fund balance-beginning 1,684,685 1,094,333
Fund balance-ending $ 2,199,786 $ 1,684,685
-83- _
Village of Oak Brook, Illinois
Motor Fuel Tax Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance —Budget and Actual
Year Ended December 31, 2009
2009
Variance with
Original and Final Budget
Final Positive 2008
Budget Actual (Negative) Actual
Revenues
Intergovernmental $ 230,000 $ 222,860 $ (7,140) $ 228,536
Investment income 3,000 1,578 (1,422) 6,368
Total revenues 233,000 224,438 (8,562) 234,904
Expenditures - - - -
Net change in fund balance $ 233,000 224,438 $ (8,562) 234,904
Fund balance-beginning 391,494 156,590
Fund balance-ending $ 615,932 $ 391,494
-84-
Village of Oak Brook, Illinois —
Foreign Fire Insurance Tax Fund
Schedule of Revenues, Expenditures,and Changes in —
Fund Balance –Budget and Actual
Year Ended December 31,2009
2009 _
Variance with
Original and Final Budget
Final Positive 2008 —
Budget Actual (Negative) Actual
Revenues —
Intergovernmental $ 55,350 $ 60,388 $ 5,038 $ 55,357
Investment income 500 319 (181) 400
Total revenues 55,850 60,707 4,857 55,757
Expenditures
Current —
Public safety 46,500 39,643 6,857 20,510
Net change in fund balance $ 9,350 21,064 $ 11,714 35,247
Fund balance-beginning 149,794 114,547 _
Fund balance-ending $ 170,858 $ 149,794
-85- _
Village of Oak Brook,Illinois
Promenade T.I.F.Fund
Schedule of Revenues,Expenditures,and Changes in
Fund Balance —Budget and Actual
Year Ended December 31,2009
2009
Variance with
Final Budget
-- Original Final Positive
Budget Budget Actual (Negative) 2008
Revenues
Property tax $ 200,000 $ 200,000 $ 347,393 $ 147,393 $ 187,978
Investment income 600 600 203 (397) 813
Total revenues 200,600 200,600 347,596 146,996 188,791
Expenditures
General government
Current
Operation and contractual 3,300 3,300 2,831 469 2,933
Developer payment 275,000 325,000 325,000 - 150,000
Less reimbursements from
other funds (80,000) (80,000) (68,980) (11,020) (83,065)
Total expenditures 198,300 248,300 258,851 (10,551) 69,868
Net change in fund balance $ 2,300 $ (47,700) 88,745 $ 136,445 118,923
Fund balance-beginning 136,330 17,407
Fund balance-ending $ 225,075 $ 136,330
-86-
PROPRIETARY FUNDS
MAJOR ENTERPRISE FUNDS
Waterworks System Fund—to account for revenues and expenses relative to the operation of the water
utility.
Sports Core Fund—to account for revenues and expenses relative to the operation of the Oak Brook Sports
Core.
Village of Oak Brook,Illinois _
Waterworks System Fund
Schedule of Revenues,Expenses and Changes in Net Assets-
Budget and Actual
Year Ended December 31,2009
2009
Variance with
Final Budget
Original Final Positive 2008 _
Budget Budget Actual (Negative) Actual
Operating revenues _
Charges for services
Water sales $ 4,700,000 $ 4,700,000 $ 3,854,234 $ (845,766) $ 3,823,758
Unmetered sales 25,000 25,000 22,215 (2,785) 25,052
Water tap on charges 60,000 60,000 36,800 (23,200) 22,341
Meter fees and special services 33,000 33,000 32,848 (152) 59,974
Miscellaneous 62,000 62,000 46,042 (15,958) 49,721
Total operating revenues 4,880,000 4,880,000 3,992,139 (887,861) 3,980,846
Operating expenses
Operation of facilities 4,316,730 4,316,730 3,611,742 704,988 3,514,640
Depreciation and amortization - - 418,182 (418,182) 399,965
Total operating expenses 4,316,730 4,316,730 4,029,924 286,806 3,914,605
Operating income(loss) 563,270 563,270 (37,785) (601,055) 66,241
Nonoperating revenues _
Investment income 160,000 160,000 24,152 (135,848) 159,083
Litigation settlement - - - - 172,095
Gain on sale of assets - 2,000 2,000 225,064 _
Total nonoperating revenues 160,000 160,000 26,152 (133,848) 556,242
Changes in net assets $ 723,270 $ 723,270 (11,633) $ (734,903) 622,483
Net assets-beginning 18,536,416 17,913,933
Net assets-ending $ 18,524,783 $ 18,536,416
-87-
Village of Oak Brook,Illinois
Sports Core Fund —
Schedule of Revenues,Expenses and Changes in Net Assets
Budget and Actual
Year Ended December 31,2009 —
2009 _
Variance with
Final Budget
Original Final Positive 2008
Budget Budget Actual (Negative) Actual
Operating revenues
Charges for services —
Golf $ 2,397,850 $ 2,397,850 $ 2,077,084 $ (320,766) $ 2,086,237
Bath and tennis 388,925 388,925 335,748 (53,177) 349,077
Food and beverage 1,203,500 1,203,500 874,552 (328,948) 1,164,984
Total operating revenues 3,990,275 3,990,275 3,287,384 (702,891) 3,600,298
Operating expenses
Golf club 1,977,585 1,977,585 1,647,866 329,719 1,755,826
Bath and tennis 687,945 687,945 643,905 44,040 607,593
Food and beverage 1,256,970 1,256,970 898,104 358,866 1,114,810 —
Depreciation - - 265,255 (265,255) 321,267
Total operating expenses 3,922,500 3,922,500 3,455,130 467,370 3,799,496
Operating income(loss) 67,775 67,775 (167,746) (235,521) (199,198)
Nonoperating revenues(expenses) —
Investment income 6,500 6,500 1,102 (5,398) 13,954
Grants 21,000 21,000 - (21,000) -
Interest expense (17,730) (17,730) (16,055) 1,675 (23,236) —
Total nonoperating revenues
(expenses) 9,770 9,770 (14,953) (24,723) (9,282)
Changes in net assets $ 77,545 $ 77,545 (182,699) $ (260,244) (208,480)
Net assets-beginning 11,064,969 11,273,449 —
Net assets-ending $ 10,882,270 $ 11,064,969
-89- ._
Village of Oak Brook, Illinois
Sports Core Fund
Schedule of Operating Revenues- Budget and Actual
Year Ended December 31,2009
2009
Variance with
Original and Final Budget
Final Positive 2008
Budget Actual (Negative) Actual
Charges for services
Golf
Fees $ 1,773,650 $ 1,537,776 $ (235,874) $ 1,482,871
Golf surcharge 67,500 59,459 (8,041) 60,504
Memberships 308,700 276,214 (32,486) 287,525
Merchandise sales 248,000 203,635 (44,365) 255,337
Total golf 2,397,850 2,077,084 (320,766) 2,086,237
Bath and tennis
Fees 130,500 135,805 5,305 142,980
Memberships 254,425 201,399 (53,026) 201,140
Merchandise sales 1,000 169 (831) 3,067
Miscellaneous 3,000 (1,625) (4,625) 1,890
Total bath and tennis 388,925 335,748 (53,177) 349,077
Food and beverage
Food sales 712,400 512,524 (199,876) 695,961
Beverage sales 395,100 290,227 (104,873) 357,239
Miscellaneous 96,000 71,801 (24,199) 111,784
Total food and beverage 1,203,500 874,552 (328,948) 1,164,984
Total operating revenues $ 3,990,275 $ 3,287,384 $ (702,891) $ 3,600,298
-90-
Village of Oak Brook,Illinois --
Sports Core Fund
Schedule of Operating Expenses-Budget and Actual _
Year Ended December 31,2009
2009
Variance with _
Final Budget
Original Final Positive 2008
Budget Budget Actual (Negative) Actual
Operating expenses excluding depreciation
Operations-golf club _
Golf club general operations
Personnel $ 476,070 $ 509,330 $ 491,108 $ 18,222 $ 503,268
Materials and supplies 226,690 215,585 162,225 53,360 236,233
Operation and contractual 222,100 226,525 215,852 10,673 206,848
Capital outlay 30,000 - - - -
Total golf club general operations 954,860 951,440 869,185 82,255 946,349
Golf club range operations
Personnel 69,450 47,395 42,100 5,295 34,288
Materials and supplies 23,500 23,500 8,055 15,445 9,112 _
Operation and contractual 14,700 17,405 17,232 173 19,654
Capital outlay 8,000 575 - 575 -
Total golf club range operations 115,650 88,875 67,387 21,488 63,054
Golf cart operations
Personnel 32,515 29,710 10,013 19,697 6,935
Materials and supplies 8,400 8,400 370 8,030 1,192
Operation and contractual 8,000 41,000 44,988 (3,988) 10,208
Total golf cart operations 48,915 79,110 55,371 23,739 18,335
Golf course maintenance
Personnel 507,845 507,845 480,864 26,981 507,179
Materials and supplies 171,365 171,365 143,181 28,184 198,094
Operation and contractual 30,950 30,950 31,878 (928) 22,815
Debt service-principal 100,000 100,000 100,000 - 95,000
Capital outlay 48,000 48,000 37,430 10,570 -
Total golf course maintenance 858,160 858,160 793,353 64,807 823,088
Total operations-golfclub 1,977,585 1,977,585 1,785,296 192,289 1,850,826 _
Operations-bath and tennis
General operations-Sports Core,Polo
and Open Fields
Personnel 234,710 234,710 249,749 (15,039) 196,446
Materials and supplies 42,500 39,965 25,414 14,551 16,631
Operation and contractual 139,865 138,580 125,776 12,804 161,616 '-
Total general operations 417,075 413,255 400,939 12,316 374,693
(Continued)
-91 - _
Village of Oak Brook,Illinois
Sports Core Fund
Schedule of Operating Expenses-Budget and Actual(Continued)
Year Ended December 31,2009
_ 2009
Variance with
Final Budget
Original Final Positive 2008
Budget Budget Actual (Negative) Actual
Operating expenses excluding depreciation
(continued)
Operations -bath and tennis(continued)
Swimming operations
Personnel $ 5,060 $ 15,135 $ 20,020 $ (4,885) $ 17,547
Materials and supplies 23,860 27,435 26,169 1,266 21,170
Operation and contractual 106,180 102,185 105,650 (3,465) 88,702
Capital outlay 15,000 9,165 9,204 (39) 88,702
Total swimming operations 150,100 153,920 161,043 (7,123) 216,121
_ Tennis operations-outdoor
Personnel 60,645 60,645 69,334 (8,689) 57,589
Materials and supplies 7,800 6,333 3,027 3,306 6,371
Operation and contractual 42,325 43,792 18,766 25,026 41,521
Capital outlay 10,000 10,000 6,280 3,720 -
Total tennis operations-bath and tennis 120,770 120,770 97,407 23,363 105,481
Total operations-bath and tennis 687,945 687,945 659,389 28,556 696,295
Food and beverage
Clubhouse
Personnel 403,155 403,155 356,463 46,692 392,453
Materials and supplies 239,350 236,550 164,801 71,749 241,245
Operation and contractual 164,100 166,900 111,207 55,693 169,046
Debt service principal 100,000 100,000 100,000 - 100,000
Total clubhouse 906,605 906,605 732,471 174,134 902,744
Poolside grill
Personnel 36,320 36,320 2,436 33,884 35,537
Materials and supplies 27,225 27,225 56 27,169 23,520
-- Operation and contractual 2,500 2,500 1,606 894 2,212
Total poolside grill 66,045 66,045 4,098 61,947 61,269
- Golf Clubhouse
Personnel 132,995 132,995 127,678 5,317 112,818
Materials and supplies 143,900 143,900 124,863 19,037 132,820
Operation and contractual 7,425 7,425 8,994 (1,569) 5,159
Total golf clubhouse 284,320 284,320 261,535 22,785 250,797
Total food and beverage 1,256,970 1,256,970 998,104 258,866 1,214,810
Total operating expenses-budgetary basis $ 3,922,500 $ 3,922,500 3,442,789 $ 479,711 3,761,931
(Continued)
-92-
Village of Oak Brook,Illinois _
Sports Core Fund
Schedule of Operating Expenses-Budget and Actual(Continued) _
Year Ended December 31,2009
2009
Variance with
Final Budget
Original Final Positive 2008
Budget Budget Actual (Negative) Actual
Adjustments to GAAP basis
Capital expenditures $ (52,914) $ (97,942)
Depreciation expense 265,255 321,267
Principal payments on debt service (200,000) (195,000)
Total adjustment to GAAP basis 12,341 28,325
Total operating expenses $ 3,455,130 $ 3,790,256
-93- _
INTERNAL SERVICE FUNDS
Self-Insurance Fund—to account for all costs associated with self-insurance risks for employee health and
dental insurance.
T 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 -
Internal Service Funds
Combining Statement of Net Assets -
December 31,2009
Self- Capital
Insurance Garage Replacement Total _
Assets
Current
Cash and investments $ 1,181,303 $ 159,080 $ 3,173,257 $ 4,513,640 -
Receivables
Other 30,604 522 - 31,126
Inventories - 45,428 - 45,428
Prepaid expense 17,414 - - 17,414
Total current assets 1,229,321 205,030 3,173,257 4,607,608
Capital assets -
Depreciable, net of accumulated
depreciation - 26,750 2,200,218 2,226,968
Total assets $ 1,229,321 $ 231,780 $ 5,373,475 $ 6,834,576
Liabilities
Current
Accounts payable $ 193,995 $ 37,906 $ 2,014 $ 233,915 -
Accrued payroll - 2,966 - 2,966
Deferred revenue 40,183 - - 40,183
Claims payable 123,600 - - 123,600
Compensated absences payable - 9,322 - 9,322
Total current liabilities 357,778 50,194 2,014 409,986
Net Assets _
Invested in capital assets, net of
related debt - 26,750 2,200,218 2,226,968 _
Unrestricted 871,543 154,836 3,171,243 4,197,622
Total net assets $ 871,543 $ 181,586 $ 5,371,461 $ 6,424,590 -
-94-
Village of Oak Brook, Illinois
Internal Service Funds
Combining Statement of Revenues, Expenses
and Changes in Net Assets
Year Ended December 31,2009
Self- Capital
Insurance Garage Replacement Total
Operating revenues
Charges for services $ 2,389,411 $ 656,375 $ 204,270 $ 3,250,056
Operating expenses
Garage operations - 591,584 - 591,584
Claims and insurance 2,500,142 - - 2,500,142
Miscellaneous - - 10,269 10,269
Depreciation - 1,998 335,782 337,780
Total operating expenses 2,500,142 593,582 346,051 3,439,775
Operating income (loss) (110,731) 62,793 (141,781) (189,719)
Nonoperating revenues
Investment income 3,427 298 15,232 18,957
Gain on sale of capital assets - - 23,219 23,219
Total nonoperating revenues 3,427 298 38,451 42,176
Change in net assets (107,304) 63,091 (103,330) (147,543)
Net assets-beginning 978,847 118,495 5,474,791 6,572,133
Net assets-ending $ 871,543 $ 181,586 $ 5,371,461 $ 6,424,590
-95-
Village of Oak Brook,Illinois
Internal Service Funds
Combining Statement of Cash Flows _
Year Ended December 31,2009
Self- Capital
Insurance Garage Replacement Total
Cash flows from operating activities
Receipts from internal services transactions $ 1,382,335 $ 657,035 $ 204,270 $ 2,243,640
Receipts from park district and retirees 1,005,156 - - 1,005,156 _
Payments to suppliers (2,634,884) (377,102) (17,885) (3,029,871)
Payments to employees (208,635) - (208,635)
Net cash provided by(used in)operating activities (247,393) 71,298 186,385 10,290 _
Cash flows from capital and related
financing activities _
Capital assets purchased - (9,987) (341,757) (351,744)
Proceeds from sale of capital assets - - 44,775 44,775
Net cash used in capital and related _
financing activities - (9,987) (296,982) (306,969)
Cash flows from investing activities _
Purchase of investments - - (6,449) (6,449)
Interest received 3,427 298 15,232 18,957
Net cash provided by investing activities 3,427 298 8,783 12,508
Net increase(decrease)in cash and cash equivalents (243,966) 61,609 (101,814) (284,171)
Cash and cash equivalents-beginning 1,425,269 97,471 2,564,420 4,087,160
Cash and cash equivalents-ending $ 1,181,303 $ 159,080 $ 2,462,606 $ 3,802,989
Cash and investments
Cash and cash equivalents $ 1,181,303 $ 159,080 $ 2,462,606 $ 3,802,989
Investments - - 710,651 710,651
Total cash and investments $ 1,181,303 $ 159,080 $ 3,173,257 $ 4,513,640 —
(Continued)
-96-
Village of Oak Brook,Illinois
Internal Service Funds
Combining Statement of Cash Flows(Continued)
Year Ended December 31,2009
Self- Capital
Insurance Garage Replacement Total
Reconciliation of operating income(loss)to net cash
provided by(used in)operating activities
Operating income(loss) $ (110,731) $ 62,793 $ (141,781) $ (189,719)
Depreciation - 1,998 335,782 337,780
Adjustments to reconcile operating income(loss)to
net cash provided by(used in)operating activities:
_ Changes in assets and liabilities:
Accounts receivable (7,043) 660 - (6,383)
Inventories - 472 - 472
_ Prepaid expenses 873 - - 873
Accounts payable (34,889) 6,502 (7,616) (36,003)
Accrued payroll and compensated absences
_ payable - (1,127) - (1,127)
Deferred revenue 4,250 - - 4,250
Claims payable (99,853) - - (99,853)
Total adjustments (136,662) 6,507 (7,616) (137,771)
Net cash provided by(used in)operating activities $ (247,393) $ 71,298 $ 186,385 $ 10,290
-97-
Village of Oak Brook,Illinois _
Self-Insurance Fund
Schedule of Revenues,Expenses and Changes in Net Assets-Budget and Actual _
Year Ended December 31,2009
2009
Variance with
Final Budget
Original Final Positive 2008
Budget Budget Actual (Negative) Actual
Operating Revenues
Charges for services $ 2,872,700 $ 2,872,700 $ 2,389,411 $ (483,289) $ 2,796,567
Operating expenses
Claims and insurance
Insurance and administration 538,000 577,080 547,704 29,376 460,855
Health claims 2,150,000 2,110,920 1,770,048 340,872 1,910,159
Dental claims 192,000 192,000 182,390 9,610 150,059
Total operating expenses 2,880,000 2,880,000 2,500,142 379,858 2,521,073
Operating income(loss) (7,300) (7,300) (110,731) (103,431) 275,494
Nonoperating revenues
Investment income 10,000 10,000 3,427 (6,573) 22,783
Change in net assets $ 2,700 $ 2,700 (107,304) $ (110,004) 298,277
Net assets-beginning 978,847 680,570
Net assets-ending $ 871,543 $ 978,847
-98-
Village of Oak Brook,Illinois
Garage Fund
Schedule of Revenues,Expenses and Changes in Net Assets-Budget and Actual
Year Ended December 31,2009
2009
Variance with
Final Budget
Original Final Positive 2008
Budget Budget Actual (Negative) Actual
Operating revenues
Charges for services $ 675,000 $ 675,000 $ 656,375 $ (18,625) $ 809,498
Operating expenses
Garage operations
Personnel 204,340 204,340 207,508 (3,168) 201,802
Materials and supplies 188,090 169,780 155,277 14,503 264,661
Operations and contractual 186,740 205,050 202,999 2,051 231,938
Expense reimbursements paid
to other funds 25,800 25,800 25,800 - 25,000
Capital outlay 15,630 15,630 - 15,630 2,918
_ Total operating expenses excluding
depreciation 620,600 620,600 591,584 29,016 726,319
Operating income 54,400 54,400 64,791 10,391 83,179
Nonoperating revenues
Investment income 1,050 1,050 298 (752) 580
Change in net assets-budgetary basis $ 55,450 $ 55,450 65,089 $ 9,639 83,759
Adjustments to GAAP basis
Depreciation expense (1,998) (2,252)
Change in net assets-GAAP basis 63,091 81,507
Net assets-beginning 118,495 36,988
Net assets-ending $ 181,586 $ 118,495
-99-
Village of Oak Brook,Illinois _
Capital Replacement Fund
Schedule of Revenues, Expenses and Changes in Net Assets-Budget and Actual
Year Ended December 31,2009
2009
Variance with
Original and Final Budget _
Final Positive 2008
Budget Actual (Negative) Actual
Operating revenues
Charges for services $ 204,270 $ 204,270 $ - $ 210,155
Operating expenses excluding depreciation
Capital outlay 750,610 341,757 408,853 590,088
Miscellaneous - 10,269 10,269 5,648 —
Total operating expenses
excluding depreciation 750,610 352,026 419,122 595,736
Operating income (loss) (546,340) (147,756) 419,122 (385,581)
Nonoperating revenues
Investment income 601000 15,232 (44,768) 101,547
Gain on sale of capital assets 20,000 23,219 3,219 21,808 _
Total nonoperating revenues 80,000 38,451 (41,549) 123,355
Change in net assets-budgetary basis $ (466,340) (109,305) $ 377,573 (262,226)
Adjustments to GAAP basis
Capital expenditures 341,757 590,088
Depreciation expense (335,782) (337,516)
Total adjustments to GAAP basis 5,975 252,572 _
Change in net assets-GAAP basis (103,330) (9,654)
Net assets-beginning 5,474,791 5,484,445
Net assets-ending $ 5,371,461 $ 5,474,791 '—
- 100-
FIDUCIARY FUNDS
' i
1
1
1
1
i
1
1
1
1
1
1
1
1
1
1
1
1
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
December 31,2009 —
Pension Trust
Police Firefighters' —
Pension Pension Totals
Assets —
Cash $ 305,378 $ 225,542 $ 530,920
Investments —
Illinois Funds 27,897 139,585 167,482
Money market 903,541 323,762 1,227,303
Certificates of deposit 605,028 103,902 708,930 —
U.S. treasury securities 4,088,588 1,097,502 5,186,090
U.S, agency securities 9,010,488 7,100,475 16,110,963
State and local obligations 1,084,388 1,964,224 3,048,612 —
Mutual funds 9,207,374 9,728,939 18,936,313
Stock equities 1,041,931 - 1,041,931
Accrued interest receivable 127,867 100,856 228,723 —
Total assets 26,402,480 20,784,787 47,187,267
Liabilities
Accounts payable 10,843 5,526 16,369
Net Assets Held in Trust for Pension Benefits $ 26,391,637 $ 20,779,261 $ 47,170,898 —
- 101 - —
Village of Oak Brook, Illinois
Fiduciary Funds
Combining Statement of Changes in Plan Net Assets
Year Ended December 31,2009
Pension Trust
Police Firefighters'
Pension Pension Totals
Additions
_ Contributions
Employer $ 958,641 $ 839,550 $ 1,798,191
Participants 316,883 225,963 542,846
1,275,524 1,065,513 2,341,037
Investment income
Net appreciation in fair
value of investments 1,801,161 1,771,002 3,572,163
Interest income 702,812 592,764 1,295,576
'— Less investment expense (73,003) (27,143) (100,146)
2,430,970 2,336,623 4,767,592
Total additions 3,706,494 3,402,136 7,108,630
_ Deductions
Administration 25,806 27,062 52,868
Pension benefits and refunds 1,638,301 1,714,463 3,352,764
Total deductions 1,664,106 1,741,526 3,405,632
Change in net assets 2,042,388 1,660,610 3,702,998
Net assets-beginning 24,349,249 19,118,651 43,467,900
Net assets-ending $ 26,391,637 $ 20,779,261 $ 47,170,898
- 102-
Village of Oak Brook, Illinois —
Police Pension Fund
Schedule of Changes in Plan Net Assets-Budget and Actual
Year Ended December 31,2009
2009 —
Variance with
Original and Final Budget
Final Positive 2008 —
Budget Actual (Negative) Actual
Additions —
Contributions
Employer $ 787,120 $ 958,641 $ 171,521 $ 617,620
Participants 325,015 316,883 (8,132) 329,065
1,112,135 1,275,524 163,389 946,685
Investment income
Net appreciation(depreciation) in
fair value of investments - 1,801,161 1,801,161 (3,465,255) —
Interest income 1,750,000 702,812 (1,047,188) 618,062
Less investment expense - (73,003) (73,003) (47,272)
1,750,000 2,430,970 680,970 (2,894,465) —
Total additions 2,862,135 3,706,494 844,359 (1,947,780)
Deductions
Administration 101,775 25,806 75,970 27,161
Pension benefits and refunds 1,718,000 1,638,301 79,699 1,503,648 —
Total deductions 1,819,775 1,664,106 155,669 1,530,809
Change in net assets $ 1,042,360 2,042,388 $ 1,000,028 (3,478,589) —
Net assets-beginning 24,349,249 27,827,838
Net assets-ending $ 26,391,637 $24,349,249
- 103- –
Village of Oak Brook, Illinois
Firefighters' Pension Fund
Schedule of Changes in Plan Net Assets- Budget and Actual
Year Ended December 31,2009
2009
Variance with
Original and Final Budget
Final Positive 2008
Budget Actual (Negative) Actual
_ Additions
Contributions
Employer $ 789,460 $ 839,550 $ 50,090 $ 671,683
Participants 248,800 225,963 (22,837) 254,613
1,038,260 1,065,513 27,253 926,296
Investment income
Net appreciation(depreciation) in fair
value of investments - 1,771,002 1,771,002 (3,350,925)
Interest income 1,387,500 592,764 (794,736) 564,113
Less investment expense - (27,143) (27,143) (29,854)
1,387,500 2,336,623 949,123 (2,816,666)
Total additions 2,425,760 3,402,136 976,376 (1,890,370)
Deductions
Administration 63,600 27,062 36,538 27,733
Pension benefits and refunds 1,720,000 1,714,463 5,537 1,436,648
Total deductions 1,783,600 1,741,526 42,074 1,464,381
Change in net assets $ 642,160 1,660,610 $ 1,018,450 (3,354,751)
Net assets-beginning 19,118,651 22,473,402
Net assets-ending $ 20,779,261 $ 19,118,651
- 104-
Statistical Section
This part of the Village's comprehensive annual financial report presents detailed information
as a context for understanding what the information in the financial statements, not disclosures,and
required supplementary information says about the Village's overall financial health.
Contents Paqe
Financial Trends
These schedules contain trend information to help the reader understand how the
Village's financial performance and well-being have changed over time. 105- 109
Revenue Capacity
These schedules contain information to help the reader assess the factors affecting
the Village's ability to generate it's property and sales taxes. 110- 113
Debt Capacity
These schedules present information to help the reader assess the affordability of
the Village's current levels of outstanding debt and the Village's ability to issue additional
debt in the future. 114- 116
Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader
understand the environment within which the Village's financial activities take place
and to help make comparisons over time and with other governments. 117- 126
Operating Information
These schedules contain information about the Village's operations and resources to
help the reader understand how the Village's financial information relates to the
services the Village provides and the activities it performs. 127- 128
Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive
annual financial reports for the relevant year. The Village implemented Statement 34 in 2003;
schedules presenting government-wide information include information beginning in that year.
Village of Oak Brook,Illinois
Net Assets by Component
Last Five Fiscal Years
Fiscal Year
2005 2006 2007 2008 2009
Governmental Activities
Invested in Capital Assets
Net of Related Debt $ 63.3 $ 63.0 $ 62.4 $ 61.7 $ 60.6
Restricted 0.6 - - - -
Unrestricted 16.2 17.7 19.7 22.7 16.9
Total Governmental Activities $ 80.1 $ 80.7 $ 82.1 $ 84.4 $ 77.5
Business-type Activities
Invested in Capital Assets
Net of Related Debt $ 23.8 $ 23.3 $ 22.7 $ 24.5 $ 24.5
Restricted - - - - - _
Unrestricted 4.0 5.0 7.0 5.7 5.5
Total Business-type Activities $ 27.8 $ 28.3 $ 29.7 $ 30.2 $ 30.0
Primary Government
Invested in Capital Assets
Net of Related Debt $ 87.1 $ 86.3 $ 85.1 $ 86.2 $ 85.1
Restricted 0.6 - - - -
Unrestricted 20.2 22.7 26.7 28.4 22.4
Total Primary Government $ 107.9 $ 109.0 $ 111.8 $ 114.6 $ 107.5
Data Source
Audited Financial Statements
Data in millions
-105-
Village of Oak Brook,Illinois
Change in Net Assets
Last Five Fiscal Years
Fiscal Year
2005 2006 2007 2008 2009
Expenses
Governmental Activities
General Government $ 4.3 $ 4.7 $ 5.3 $ 6.2 $ 5.3
Public Safety 11.3 12.0 12.3 12.6 11.9
- Public Works 4.6 4.1 4.3 3.2 11.9
Culture and Recreation 1.7 1.9 1.8 2.0 1.7
Interest on Long-Term Debt 0.1 0.1 0.1 0.1 0.1
' Total Governmental Activities Expenses 22.0 22.8 23.8 24.1 30.9
Business-type Activities
_ Water 4.5 3.9 4.4 3.9 4.0
Sports Core 3.4 3.7 3.7 3.8 3.5
Total Business-type Activities Expenses 7.9 7.6 8.1 7.7 7.5
Total Primary Government Expenses $ 29.9 $ 30.4 $ 31.9 $ 31.8 $ 38.4
Program Revenues
_ Governmental Activities
Charges for Services
General Government $ 1.1 $ 1.2 $ 1.7 $ 1.3 $ 1.1
Public Safety 0.8 0.8 0.9 0.8 0.8
Other Activities 0.0 0.0 0.0 0.0 0.1
Operating Grants and Contributions 2.8 0.3 0.5 0.4 0.3
Total Governmental Activities Program Revenues 4.7 2.3 3.1 2.5 2.3
Business-type Activities
Charges for Services
Water 4.5 4.4 4.6 4.0 4.0
Sports Core 3.4 3.6 3.8 3.6 3.3
Total Business-type Activities Program Revenues 7.9 8.0 8.4 7.6 7.3
Total Primary Government Program Revenues $ 12.6 $ 10.3 $ 11.5 $ 10.1 $ 9.6
Net(Expense)Revenue
- Governmental Activities $ (17.3) $ (20.5) $ (20.7) $ (21.6) $ (28.6)
Business-type Activities - 0.4 0.3 (0.1) (0.2)
Total Primary Government Net(Expense)Revenue $ (17.3) $ (20.1) $ (20.4) $ (21.7) $ (28.8)
-106-
Village of Oak Brook,Illinois
Change in Net Assets
Last Five Fiscal Years
Fiscal Year
2005 2006 2007 2008 2009
General Revenues and Other Changes in Net Assets
Governmental Activities
Taxes
Sales and Local Use Taxes $ 13.0 $ 14.2 $ 14.4 $ 16.1 $ 14.2
Utility 4.3 3.8 4.2 4.5 4.9
Other 1.6 1.5 2.5 2.5 2.5
Investment Earnings - 0.7 0.8 0.5 0.1
Miscellaneous - 0.2 0.2 0.3 -
Total Governmental Activities 18.9 20.4 22.1 23.9 21.7
Business-type Activities -
Investment Earnings 0.1 0.2 0.3 0.2 -
Miscellaneous 1.1 - 0.8 0.4 -
Total Business-type Activities 1.2 0.2 1.1 0.6 -
Total Primary Government $ 20.1 $ 20.6 $ 23.2 $ 24.5 $ 21.7
Change in Net Assets
Governmental Activities $ 1.6 $ (0.1) $ 1.4 $ 2.3 $ (6.9)
Business-type Activities 1.2 0.6 1.4 0.5 (0.2)
Total Primary Government Change in Net Assets $ 2.8 $ 0.5 $ 2.8 $ 2.8 $ (7.1)
Data Source
Audited Financial Statements
Data in millions
-107- _
Village of Oak Brook,Illinois
Fund Balances of Governmental Funds
Last Ten Fiscal Years
Fiscal Year
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
General Fund
Reserved $ 794,572 $ 2,915,147 $ 1,142,795 $ 1,290,284 $ 1,292,859 $ 1,291,561 $ 1,292,073 $ 1,291,112 $ 1,291,975 $ 1,495,000
Unreserved 19,577,513 14,367,995 10,479,787 9,802,818 9,949,121 11,651,504 11,731,876 12,152,083 11,493,855 10,787,853
Total General Fund $ 20,372,085 $ 17,283,142 $ 11,622,582 $ 11,093,102 $ 11,241,980 $ 12,943,065 $ 13,023,949 $ 13,443,195 $ 12,785,830 $ 12,282,853
Infrastructure Fund
Unreserved $ 2,725,747 $ 1,936,562 $ 2,027,275 $ 2,316,583 $ 2,996,267 $ 1,696,960 $ 1,919,422 $ 2,110,918 $ 4,792,595 $ 4,682,620
Total Infrastructure Fund $ 2,725,747 $ 1,936,562 $ 2,027,275 $ 2,316,583 $ 2,996,267 $ 1,696,960 $ 1,919,422 $ 2,110,918 $ 4,792,595 $ 4,682,620
All Other Governmental Funds
Unreserved,reported in
Special Revenue Funds $ 952,428 $ 1,138,212 $ 1,163,310 $ 1,065,232 $ 850,871 $ 609,248 $ 780,902 $ 1,365,470 $ 2,225,973 $ 2,986,576
Capital Project Fund - - - - - - 15,156 17,407 136,330 225,075
Total All Other Governmental
Funds $ 952,428 $ 1,138,212 $ 1,163,310 $ 1,065,232 $ 850,871 $ 609,248 $ 796,058 $ 1,382,877 $ 2,362,303 $ 3,211,651
Data Source
Audited Financial Statements
-108-
Village of Oak Brook,Illinois
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
Fiscal Year
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Revenues
Sales Tax Revenue $ 10,455,044 $ 9,307,134 $ 9,982,742 $ 9,749,858 $ 10,529,690 $ 10,497,102 $ 11,461,184 $ 11,396,397 $ 10,873,975 $ 9,748,649
Non-home Rule Sales Tax - - - - 1,304,467 2,422,549 2,641,030 2,618,565 4,874,978 4,410,438
Other Intergovernmental 1,528,125 1,357,908 2,032,368 1,193,908 1,321,112 1,513,492 1,535,507 1,711,638 1,893,862 1,771,733
Utility Taxes 2,326,035 3,351,774 4,422,058 4,500,108 4,298,744 4,268,283 3,822,020 4,247,675 4,520,563 4,922,115
Hotel/Motel Taxes 353,692 308,101 297,911 306,365 323,325 349,615 416,507 1,262,808 1,137,614 882,649
Licenses and Permits 623,858 324,131 468,403 570,261 741,528 669,726 858,401 850,965 720,847 741,380
Charges for Services 389,557 374,409 560,204 703,634 745,027 791,638 835,390 832,008 839,504 695,630
Fines and Penalties 223,462 300,311 311,750 353,513 401,616 334,869 292,331 375,717 345,937 313,395
Investment Income 1,347,175 1,135,564 486,149 158,482 104,869 286,859 562,590 682,728 431,753 80,345
Donations 400,000 25,000 410,000 - 15,000 25,311 45,150 - -
Miscellaneous 1,679,561 97,185 100,766 228,477 176,630 166,340 190,225 281,864 391,106 403,580
Total Revenues 18,926,509 16,956,517 18,687,351 18,174,606 19,947,008 21,315,473 22,640,496 24,305,515 26,030,139 23,969,914
Expenditures
General Government 4,042,910 4,054,334 4,391,793 4,811,984 4,769,485 4,070,435 5,052,804 5,529,429 5,846,600 4,932,449
Public Safety 8,228,147 8,976,293 9,269,396 9,537,454 9,590,916 11,158,837 12,047,821 12,156,303 12,280,965 11,496,681
Public Works 1,636,909 1,558,922 1,772,431 1,906,948 2,023,984 2,954,815 2,338,619 2,460,937 2,394,176 10,458,211
Culture and Recreation 1,104,942 1,245,024 1,603,019 1,554,606 1,563,457 1,594,661 1,855,514 1,746,352 2,011,660 1,596,440
Debt Service - - - - - - - - 1,801,578
Capital Outlay 2,802,209 9,378,189 6,999,580 1,139,208 1,009,984 1,001,532 855,582 1,214,933 493,000 994,776
Total Expenditures 17,815,117 25,212,762 24,036,219 18,950,200 18,957,826 20,780,280 22,150,340 23,107,954 23,026,401 31,280,135
Excess of Revenues over(under)
Expenditures 1,111,392 (8,256,245) (5,348,868) (775,594) 989,182 535,193 490,156 1,197,561 3,003,738 (7,310,221)
Other Financing Sources(Uses)
Transfers In 878,634 843,420 535,307 200,000 - - - - -
Transfers Out (772,034) (252,990) (396,707) - -
Debt issuance 3,968,310 9,788,606
Debt issuance premium 8,861
Payment to refund bond escrow agent - (2,250,850)
Sale of Capital Assets 398,937 39,000 - -
Total Other Financing Sources(Uses) 106,600 4,957,677 177,600 200,000 7,546,617
Net Change in Fund Balances $ 1,217,992 $ (3,298,568) $ (5,171,268) $ (575,594) $ 989,182 $ 535,193 $ 490,156 $ 1,197,561 $ 3,003,738 $ 236,396
Data Source
Audited Financial Statements
-109-
Village of Oak Brook,Illinois
Assessed Value and Actual Value of Taxable Property
Last Ten Levy Years
(data in thousands)
Total Estimated Estimated
Less: Total Taxable Direct Actual Actual
Levy Residential Commercial Industrial Tax-Exempt Assessed Tax Taxable Taxable
Year Property Property Property Property Value Rate Value Value
1999 $ 605,204 $ 440,781 $ - $ - $ 1,045,985 $ - $ 3,137,955 33.333%
2000 636,436 464,032 - - 1,100,468 - 3,301,404 33.333%
2001 681,876 499,605 - - 1,181,481 - 3,544,443 33.333%
2002 752,206 541,598 - - 1,293,804 - 3,881,412 33.333%
2003 793,873 533,227 - - 1,327,100 - 3,981,300 33.333%
2004 869,932 555,935 - - 1,425,867 - 4,277,601 33.333%
2005 934,030 547,901 - - 1,481,931 - 4,445,793 33.333%
2006 1,011,883 566,390 - - 1,578,273 - 4,734,819 33.333%
2007 1,089,808 598,096 - - 1,687,904 - 5,063,712 33.333%
2008 1,179,126 607,923 - - 1,787,049 - 5,361,147 33.333%
Data Source
Office of the County Clerk
Note: Property in the Village is reassessed each year. Property is assessed at 33%of actual value.
Other Information from Statement:
The Statement requires that the information in this schedule be shown for each period for which levied and should be consistent with the periods
shown in the schedule of direct and overlapping revenue rates and schedule of property tax levies and collections. Therefore, most Illinois governments
should disclose this by the tax levy year, not the fiscal year.
_110-
Village of Oak Brook,Illinois
Property Tax Rates-Direct and Overlapping Governments
Last Ten Levy Years
Tax Levy Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Tax Rates
Village of Oak Brook - - - - - - - - - -
Basic Town 0.5601 0.5379 0.5072 0.4685 0.4375 0.4120 0.3961 0.3878 0.3662 0.3567
Junior College#502 0.2006 0.1966 0.1930 0.2179 0.2097 0.1972 0.1874 0.1929 0.1888 0.1858
Grade School#53 0.9862 0.9689 0.9476 0.8877 0.8984 0.8527 0.8530 0.8319 0.8060 0.7936
High School#86 1.4881 1.4367 1.4250 1.3858 1.3094 1.2310 1.1910 1.1418 1.0943 1.0804
Oak Brook Park District 0.1877 0.1674 0.1538 0.1667 0.1666 0.1589 0.1621 0.1583 0.1530 0.1504
Total Tax Rates 3.4227 3.3075 3.2266 3.1266 3.0216 2.8518 2.7896 2.7127 2.6083 2.5669
Note: Basic town includes all county,forest preserve and township rates. Property tax rates are per$100 of assessed valuation.
Data Source
Office of the County Clerk
- 111 -
r
Village of Oak Brook, Illinois
Principal Revenue Taxpayers
Current Year and Ten Years Ago
2009 1999
Sales Sales
Taxes Taxes
Taxpayer Revenue Taxpayer Revenue
Apple Computer Crate&Barrel
Costco Wholesale Entex Information Services, Inc.
Macy's International Business Machines
Macy's Home Store Lord &Taylor
Neiman Marcus Marshall Fields
Nordstrom Rack Marshall Fields Home Store
Nordstrom, Inc. Neiman Marcus
Sears Roebuck&Co. Nordstrom, Inc.
Tiffany&Co. Saks&Company
Walter E. Smithe Furniture Sears Roebuck&Co.
Top 10 total $ 4,807,559 Top 10 total $ 5,748,741
Total Sales Tax Revenue $ 10,024,077 Total Sales Tax Revenue $ 11,204,642
Top 10 as a Percent of Sales Top 10 as a Percent of Sales
Tax Revenue 47.96% Tax Revenue 51.31%
Data Source
Illinois Department of Revenue
Note: Confidentiality rules of the Illinois Department of Revenue prohibit disclosure of individual
taxpayer payment information. The data presented above is organized alphabetically with revenue
for the top ten taxpayers reported in aggregate for the years presented.
- 112-
Village of Oak Brook, Illinois
Direct and Overlapping Sales Tax Rates
Last Ten Levy Years
Village DuPage County Regional Village
Fiscal Direct State DuPage County Water Transportation Non-Home Rule Total
Year Rate Rate Rate Commission Authority Rate Rate
2000 1.00% 5.00% 0.25% 0.25% 0.25% 0.00% 6.75%
2001 1.00% 5.00% 0.25% 0.25% 0.25% 0.00% 6.75%
2002 1.00% 5.00% 0.25% 0.25% 0.25% 0.00% 6.75%
2003 1.00% 5.00% 0.25% 0.25% 0.25% 0.00% 6.75%
2004 1.00% 5.00% 0.25% 0.25% 0.25% 0.25% 7.00%
2005 1.00% 5.00% 0.25% 0.25% 0.25% 0.25% 7.00%
2006 1.00% 5.00% 0.25% 0.25% 0.25% 0.25% 7.00%
2007 1.00% 5.00% 0.25% 0.25% 0.25% 0.25% 7.00%
2008 1.00% 5.00% 0.25% 0.25% 0.75% 0.50% 7.75%
2009 1.00% 5.00% 0.25% 0.25% 0.75% 0.50% 7.75%
Data Source
Village and County Records
- 113-
I I I I I I I I I I I I I I I
Village of Oak Brook, Illinois
Ratios of Outstanding Debt By Type
Last Ten Fiscal Years
Governmental Business-Type
Activities Activities Ratio of Total Total Outstanding Total
Fiscal Installment Installment Total Outstanding Debt Debt as a Outstanding
Year Notes Notes Capital Primary To Equalized Percentage of Debt Per
Ended Payable Payable Leases Government Assessed Valuation* Personal Income Capita*
2000 $ - $ 2,555,000 $ 107,381 $ 2,662,381 0.25% 1568.71% $ 305.95
2001 3,810,000 1,710,000 73,880 5,593,880 0.51% 3295.99% 642.83
2002 3,615,000 1,485,000 38,136 5,138,136 0.43% 3027.45% 590.45
2003 3,410,000 1,360,000 - 4,770,000 0.37% 2810.54% 548.15
2004 3,195,000 1,205,000 - 4,400,000 0.33% 2592.54% 505.63
2005 2,970,000 1,045,000 120,643 4,135,643 0.29% 2436.77% 475.25
2006 2,735,000 885,000 82,378 3,702,378 0.25% 2181.49% 425.46
2007 2,485,000 720,000 42,195 3,247,195 0.22% 1913.29% 373.16
2008 2,225,000 525,000 - 2,750,000 0.16% 1620.33% 316.02
2009 2,075,000 325,000 - 2,400,000 0.14% 1414.11% 275.80
Note: Details of the Village's outstanding debt can be found in the notes to the financial statements.Amounts exclude liabilities incurred under an
intergovernmental agreement with the State of Illinois.
* See the Schedule of Demographic and Economic Information on page 117 for equalized assessed valuation of property and population data.
Personal income information is not available.
- 114-
Village of Oak Brook,Illinois _
Schedule of Direct and Overlapping Bonded Debt
December 31,2009
(2)
"Percentage
(1) of Debt (3)
Gross Applicable to "Government's
Governmental Unit Bonded Debt Government Share of Debt
Village of Oak Brook $ - 100.00 % $ -
DuPage County 175,910,000 17.29% 30,419,799
DuPage Forest Preserve 228,967,980 22.51% 51,537,670
DuPage Water Commission 24,310,000 2.39% 580,959
Park Districts 1,148,500 0.11% 1,297
Elementary School Districts 83,720,414 8.23% 6,890,298
High School Districts 186,612,197 18.34% 34,233,817 —
Junior College 502 239,720,000 23.57% 56,491,592
Unit District 205 76,853,936 7.56% 5,806,407
TOTAL $ 1,017,243,027 $ 185,961,840
* Determined by ratio of assessed value of property subject to taxation in overlapping
unit to value of property subject to taxation in the Village of Oak Brook, Illinois. _
** Amount in column (2) multiplied by amount in column (1).
Totals may not be exact due to rounding.
Data Source
Office of the County Clerk _
- 115-
_
Village of Oak Brook,Illinois
Legal Debt Margin Information
Last Ten Fiscal Years
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Legal debt limit $ 90,216,217 $ 94,915,374 $ 101,902,766 $ 111,590,582 $ 114,462,334 $ 122,938,821 $ 127,816,578 $ 136,126,063 $ 145,581,763 $ 154,132,970
Total net debt 2,555,000 5,520,000 5,100,000 4,770,000 4,400,000 4,015,000 3,620,000 3,205,000 2,750,000 2,400,000
applicable to limit
Legal debt margin 87,661,217 89,395,374 96,802,766 106,820,582 110,062,334 118,923,821 124,196,578 132,921,063 142,831,763 151,732,970
Total net debt applicable 2.83% 5.82% 5.00% 4.27% 3.84% 3.27% 2.83% 2.35% 1.89% 1.56%
to the limit as a
percentage of debt limit
Legal Debt Margin Calculation for Fiscal 2009
Assessed Value $ 1,787,048,929
Legal debt margin 8.625%
Debt limit 154,132,970
Debt applicable to limit
General obligation bonds 2,400,000
Legal debt margin $ 151,732,970
-116-
Village of Oak Brook, Illinois _
Demographic and Economic Information
Last Ten Fiscal Years
Per DuPage Co.
Fiscal Personal Capita Unemployment
Year Population Income Personal Income Rate
2000 8,702 (A) $ 169,718 $ 19,503 2.6% _
2001 8,702 (E) 169,718 19,503 3.8%
2002 8,702 (E) 169,718 19,503 5.4%
2003 8,702 (E) 169,718 19,503 5.8%
2004 8,702 (E) 169,718 19,503 4.7%
2005 8,702 (E) 169,718 19,503 4.7%
2006 8,702 (E) 169,718 19,503 3.6%
2007 8,702 (E) 169,718 19,503 3.8%
2008 8,702 (E) 169,718 19,503 8.6%
2009 8,702 (E) 169,718 19,503 8.4%
(A)Actual
(E) Estimate
Note: Latest information available
Data Source: U.S. Census
- 117-
Village of Oak Brook, Illinois
Top Ten Principal Employers
December 31, 2009
Percentage
Employer Rank Employees of Total Employment
Oak Brook Center Mall 1 3,150 9.1%
McDonald's Corporation 2 3,000 8.7%
Inland Real Estate Group of Companies 3 804 2.3%
Ace Hardware 4 710 2.1%
Crowe Horwath 5 512 1.5%
Advocate Healthcare 6 350 1.0%
Follet Higher Education Group 7 320 0.9%
Lions Club International 8 285 0.8%
Oak Brook Marriott Hotel 9 271 0.8%
Newell Rubbermaid 10 240 0.7%
Data Source
Reference USA website; Oak Brook Chamber of Commerce
- 118-
Village of Oak Brook, Illinois
Retail Sales Volume•Top 25 Illinois Communities
State Collection Period January 1,2009 Through December 31,2009 -
(1)
Estimated Sales 2000
Municipality Rank Sales Per Capita Population
Chicago 1 $ 20,587,257,000 $ 7,109 2,896,016 _
Schaumburg 2 2,506,642,200 33,251 75,386
Naperville 3 2,448,999,500 19,079 128,358
Springfield 4 2,410,056,500 21,624 111,454
Kankakee 5 2,194,805,600 79,837 27,491
Rockford 6 2,093,383,000 13,945 150,115 _
Peoria 7 2,022,193,700 17,906 112,936
Aurora 8 1,783,822,500 12,475 142,990
Joliet 9 1,755,914,900 16,531 106,221
Orland Park 10 1,661,375,400 32,527 51,077
Champaign 11 1,428,190,600 21,153 67,518
Niles 12 1,262,681,300 41,994 30,068
Bloomington 13 1,252,325,700 19,324 64,808
Glenview 14 1,192,538,100 28,498 41,847 -
Skokie 15 1,115,971,000 17,617 63,348
Downers Grove 16 1,080,322,500 22,172 48,724
Gurnee 17 1,071,512,300 37,161 28,834
Decatur 18 1,068,344,200 13,051 81,860
Sycamore 19 1,053,993,000 87,687 12,020
Vernon Hills 20 1,022,657,200 50,828 20,120
Oak Brook (p�\ 987,757,900 113,509 8,702
Lombard 22 986,929,400 23,320 42,322 `
Arlington Heights 23 976,197,400 12,839 76,031
Tinley Park 24 973,958,500 20,123 48,401
Crystal Lake 25 955,028,300 25,132 38,000
Source: Illinois Department of Revenue-Local Tax Allocation Division
and the U.S. Census Bureau.
Note(1): Distributions to municipalities of the 1% municipal tax were used to calculate the
estimated retail sales. Actual sales tax amounts were received by the municipalities
April 1, 2009 through March 31, 2010.
- 119-
Village of Oak Brook,Illinois
Sales Tax Receipts
Cash Basis
Last Ten Fiscal Years
_ Fiscal Year Village Share/ %Change from Non-Home rule %Change from Total %Change from
Ended State Sales Preceding Sales Tax Preceding Sales Tax Preceding
December 31 Tax Receipts Year Receipts Year Receipts Year
2000 $ 10,591,635 -4.1% $ $ 10,591,635 -4.1%
2001 9,605,724 -9.3% 9,605,724 -9.3%
2002 9,570,001 -0.4% 9,570,001 -0.4%
2003 10,017,499 4.7% 10,017,499 4.7%
2004 10,368,148 3.5% 568,008 N/A 10,936,156 9.2%
2005 10,572,493 2.0% 2,422,386 326.5% 12,994,879 18.8%
2006 11,138,321 5.4% 2,559,593 5.7% 13,697,914 5.4%
2007 11,340,035 1.8% 2,608,471 1.9% 13,948,506 1.8%
2008 11,066,103 -2.4% 4,272,671 63.8% 15,338,774 10.0%
2009 10,024,077 -9.4% 4,447,786 4.1% 14,471,863 -5.7%
Source: Village Records
Note: The Village's Non-Home rule sales tax was effective beginning July 1,2004.
-120-
Village of Oak Brook, Illinois
State Sales Tax Receipts By Month
Cash Basis
Last Three Fiscal Years -
Percentage Change
Fiscal Year Fiscal Year Fiscal Year From Preceding Year
Month Ended 12/31/07 Ended 12/31/08 Ended 12/31/09 FY 2007 FY 2008 FY 2009 _
January $ 839,525 $ 892,788 $ 768,433 14.2% 6.3% -13.9%
February 976,534 979,632 1,074,630 6.4% 0.3% 9.7%
March 1,662,771 1,565,459 1,320,915 20.7% -5.9% -15.6%
April 761,206 717,929 729,721 -50.3% -5.7% 1.6% -
May 646,862 695,213 626,143 -14.6% 7.5% -9.9%
June 920,112 761,205 755,489 38.0% -17.3% -0.8%
July 881,446 966,061 707,991 -25.3% 9.6% -26.7%
August 880,885 877,206 771,849 0.5% -0.4% -12.0%
September 957,796 889,932 810,220 -2.0% -7.1% -9.0% -
October 907,521 875,301 818,439 2.8% -3.6% -6.5%
November 965,575 993,953 842,402 2.6% 2.9% -15.2%
December 939,802 851,423 797,845 0.7% -9.4% -6.3% -
Total $ 11,340,035 $ 11,066,103 $ 10,024,077 1.8% -2.4% -9.4%
Source: Village Records
- 121 - -
Village of Oak Brook,Illinois
Non-Home Rule Sales Tax Receipts By Month
Cash Basis
Last Three Fiscal Years
Percentage Change
Fiscal Year Fiscal Year Fiscal Year From Preceding Year
Month Ended 12/31/07 Ended 12/31/08 Ended 12/31/09 FY 2007 FY 2008 FY 2009
January $ 198,638 $ 200,027 $ 353,215 18.3% 0.7% 76.6%
February 226,664 235,369 399,363 6.6% 3.8% 69.7%
March 392,740 369,775 618,299 26.2% -5.8% 67.2%
_ April 173,474 321,130 325,062 -34.7% 85.1% 1.2%
May 145,910 314,195 280,205 -13.4% 115.3% -10.8%
June 209,843 371,023 341,693 52.1% 76.8% -7.9%
July 199,449 423,126 318,052 -20.3% 112.1% -24.8%
August 201,527 403,229 349,890 1.1% 100.1% -13.2%
September 222,169 421,233 365,985 -1.6% 89.6% -13.1%
October 208,270 399,889 377,370 3.4% 92.0% -5.6%
November 211,214 422,954 356,653 3.9% 100.2% -15.7%
December 218,573 390,722 361,999 1.4% 78.8% -7.4%
Total $ 2,608,471 $ 4,272,671 $ 4,447,786 1.9% 63.8% 4.1%
Source: Village Records
Note: The Village's Non-Home rule sales tax was effective July 1, 2004 with collections beginning in October 2004.
-122-
Village of Oak Brook,Illinois
Sales Tax By Category
Last Ten Fiscal Years
Fiscal Years 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
General Merchandise $ 2,881,090 $ 2,863,474 $ 2,727,372 $ 2,752,128 $ 2,979,121 $ 2,243,966 $ 3,031,452 $ 2,384,953 $ 2,064,241 $ 1,864,664
Food 54,930 55,395 50,868 51,362 40,239 41,125 46,714 56,332 54,585 68,576
Drinking and eating places 901,251 938,849 956,286 968,701 1,075,685 1,105,997 1,181,813 1,266,893 1,248,272 1,270,903
Apparel 2,667,952 2,524,261 2,551,474 2,619,437 2,683,775 2,813,176 3,051,925 3,075,294 2,876,511 2,711,321
Furniture,H.H.and radio 939,859 632,564 577,992 824,925 917,782 945,017 961,241 1,080,877 1,076,836 840,999
Lumber,building and hardware 79,920 82,726 91,162 120,341 113,660 105,873 104,720 85,382 39,312 32,472
Automotive and filling stations 166,039 538,037 947,990 1,013,497 1,211,391 1,333,253 1,465,864 1,544,153 1,708,234 1,568,808
Drugs and other retail 1,208,582 1,150,466 1,445,340 1,107,775 1,156,873 1,179,604 1,285,354 1,240,805 1,141,709 1,046,055
Agriculture and all others 1,282,233 671,440 423,268 300,850 304,287 397,129 451,957 491,738 507,663 414,462
Manufacturers 91,552 53,079 96,147 50,297 75,179 77,311 68,531 72,399 72,003 100,642
Total $ 10,273,408 $ 9,510,291 $ 9,867,898 $ 9,809,313 $ 10,557,992 $ 10,242,451 $ 11,649,570 $ 11,298,826 $ 10,789,368 $ 9,918,902
Village direct sales tax rate 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%
Source: Illinois Department of Revenue-Local Tax Allocation Division
Note: Gross receipts include both Cook and DuPage County 1%municipal sales tax. Amounts reflect sales tax collected by the Village between April 1 and March 31 as reported by the State.
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Village of Oak Brook,Illinois
Non-Home Rule Sales Tax By Category
Last Ten Fiscal Years
Fiscal Years 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
General Merchandise $ $ $ $ $ 382,923 $ 556,016 $ 743,530 $ 590,403 $ 1,024,873 $ 926,187
Food 2,007 4,444 5,150 8,577 19,275 20,652
Drinking and eating places 142,641 275,357 294,331 315,085 615,357 632,360
Apparel 373,434 702,672 762,294 768,375 1,433,462 1,353,324
Furniture,H.H.and radio 126,581 231,825 240,036 269,738 534,252 419,064
Lumber,building and hardware 14,797 26,448 26,171 21,290 19,735 16,233
Automotive and filling stations 96,769 183,613 204,893 207,328 410,617 419,622
Drugs and other retail 147,168 260,634 278,768 275,639 501,254 455,080
Agriculture and all others 36,238 83,805 108,407 108,766 224,370 191,955
Manufacturers 10,196 19,327 17,079 18,064 35,964 50,271
Total $ $ $ $ $ 1,332,753 $ 2,344,139 $ 2,680,660 $ 2,583,266 $ 4,819,159 $ 4,484,748
Village non-home rule sales tax rate 0.25% 0.25% 0.25% 0.25% 0.50% 0.50%
Source: Illinois Department of Revenue-Local Tax Allocation Division
Note: Gross receipts include both Cook and DuPage County 1%municipal sales tax. Amounts reflect sales tax collected between April 1 and March 31 as reported by the State.
Note: The Village's Non-Home rule sales tax was effective July 1,2004.
The Village's Non-Home rule sales tax increased from.25%to.50%effective January 1,2008.
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Village of Oak Brook,Illinois
Budgeted Full-Time Equivalent Employees
Last Ten Fiscal Years
Function/Program 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
111 Board of Trustees 0.50 0.50 0.50 0.50 0.50 0.50 1.00 1.00 0.50 0.50
112 Village Clerk 2.00 2.50 2.50 2.50 2.50 2.75 2.75 3.25 3.25 3.25
121 Legal 1.00 1.00 1.00 1.00 0.25 0.25 0.25 0.25 0.25 0.25
131 General Management 3.25 3.25 3.25 3.25 3.50 3.50 3.25 3.25 2.50 2.50
132 Human Resources 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.50
134 Risk Management 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50
136 General Services 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25 1.25
137 Business Licenses - - - - 0.25 0.25 0.00 0.00
141 Purchasing 1.50 1.50 1.50 1.50 1.50 1.50 1.50 1.50 1.50 0.00
151 Information Services 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.00
Legislative and General Management Total 14.50 15.00 15.00 15.00 14.50 14.75 15.25 15.751 14.25 12.75
211 Financial Services Management 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
221 Accounting and Reporting 4.50 5.00 5.00 4.50 4.50 4.50 4.50 4.50 4.50 5.00
Financial Services Total 5.50 6.00 6.00 5.50 5.501 5.50 5.50 5.50 5.50 6.00
321 Buildings and Grounds 1.00 2.00 2.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
341 Garage Operations 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00
351 Water Operations 6.00 6.00 6.00 7.00 7.00 7.50 7.50 7.50 7.50 7.50
360 Public Works Management 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
361 Streets-General Salaries 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00
Public Works Total 20.00 21.00 21.00 21.00 21.00 21.50 21.50 21.50 21.50 21.50
460 Engineering 5.00 5.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00
Engineering and Capital Projects Total 5.00 5.00 4.00 4.001 4.00 4.00 4.00 4.00 4.00 4.00
511 Library General Operations 5.25 5.75 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00
521 Technical Services 2.25 2.25 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50
531 Reference and User Services 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50 2.50
541 Youth Services 1.75 1.75 2.75 2.75 2.75 2.75 2.75 2.75 2.75 2.75
Library Total 1 11.751 12.251 14.751 14.75 14.75 14.75 14.75 14.75 14.75 14.75
(Continued)
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Village of Oak Brook,Illinois
Budgeted Full-Time Equivalent Employees(Continued)
Last Ten Fiscal Years
Function/Program 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
611 Police Services Management 4.00 4.00 4.00 4.00 4.00 3.00 3.00 3.00 3.00 3.00
621 Police Field Services 33.00 36.00 36.00 33.00 35.00 37.00 35.00 35.00 36.25 35.25
631 Police General Support 2.00 2.00 2.00 2.00 2.00 2.00 2.50 3.00 3.50 3.50
632 Police Investigations 8.00 8.00 8.00 8.00 6.00 6.00 6.00 7.00 7.00 6.00
633 Village Communications Center 10.00 10.00 10.00 10.00 10.00 10.00 11.00 12.00 12.50 12.00
634 Police Records 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
635 Police Public Relations/Crime Prevention 2.00 1 2.00 2.00 2.00 2.00 1.00 2.00 0.00 0.00 0.00
Police Total 62.00 65.00 65.00 62.00 62.00 62.00 62.50 63.00 65.25 62.75
700 Fire and EMS-General Salaries- 33.00 36.00 33.00 33.00 33.00 33.00 33.00 33.00 33.00 33.00
711 Rescue and Fire Service Management 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 2.50
741 Fire Prevention and Public Safety Education 2.00 2.00 2.00 2.00 1 2.00 2.00 2.00 2.00 2.00 0.00
Fire Total*** 38.00 41.00 38.00 38.00 38.00 38.00 38.001 38.00 38.00 35.50
811 Sports Core General Operations 3.25 3.25 3.25 3.25 3.25 2.75 2.75 2.75 2.75 2.25
821 Sports Core Food&Beverage Operations 2.00 2.00 2.00 2.00 2.00 1.50 2.00 2.50 2.50 2.75
823 Golf Club Food&Beverage Operations - - - - - - - - - 0.25
831 Golf Club General Operations 3.25 3.25 3.25 3.25 3.25 3.25 3.25 3.25 3.25 3.25
834 Golf Course Maintenance 3.00 3.00 3.00 3.00 3.00 3.00 3.001 3.00 3.00 3.00
Sports Core Total 11.50 11.50 11.50 11.50 11.50 10.50 11.00 11.50 11.50 11.50
911 Community Development Management 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00
921 Code Enforcement 3.00 3.00 3.00 3.00 3.00 3.00 3.00 4.00 4.00 3.50
Community Development Total 1 5.001 5.00 5.001 5.001 5.001 5.001 5.00 6.00 6.001 5.50
GRAND TOTAL ALL DEPARTMENTS 1 173.251 181.75 180.25 176.75 176.25 176.00 177.50 180,_00F 180.751 174.25
*Summary represents full-time equivalent positions not including seasonal,temporary or situational employees. Regular part-time employee
hours have been rounded to the nearest quarter full-time equivalent.
**Six contract firefighter/paramedics are used to supplement the full-time complement of firefighter/paramedics.
***Part-time positions that are filled by off-duty full-time Fire Department personnel are not included. These positions include Fire Prevention
Inspectors,Building Inspectors,Administrative Aide, EMS Director, Public Safety Information Coordinator,and CPR Coordinator.
Source: Village records.
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Village of Oak Brook,Illinois
Operating Indicators
Last Ten Fiscal Years
Function/Program 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Public Safety
Police
Physical arrests 344 341 356 313 364 357 330 319 293 399
Parking violations 2,714 2,496 1,908 2,376 1,345 1,112 579 1,472 1,420 1,113
Traffic violations 4,295 5,982 5,228 5,247 4,813 4,328 4,164 4,551 3,371 3,464
Fire
EMS Incidents 1,041 1,073 1,022 1,049 1,016 1,059 1,138 1,093 1,037 1,069
Fire Incidents 1,460 1,675 743 747 1,075 949 716 823 752 802
Communications Center
Police calls dispatched 10,120 9,823 9,507 9,597 10,142 11,766 10,864 10,880 10,667 9,911
Fire/EMS calls dispatched 1,882 1,944 1,765 2,224 2,091 2,148 2,013 2,250 2,214 2,176
Water
New water meters installed 35 41 46 39 38 47 31 31 21 10
Water main breaks repaired 62 50 70 78 71 110 63 109 58 63
Water pumped(Mil.Gals.) 1,488 1,417 1,608 1,513 1,375 1,530 1,261 1,336 1,210 1,105
Library
Total Circulation 54,317 63,000 73,725 92,066 96,024 98,754 96,414 99,009 96,631 90,287
Avg.Daily Circulation 160.2 185.8 236.3 270.8 280.8 289.6 286.1 292.1 282.5 267.9
Total Holdings 54,918 56,189 61,108 83,115 89,292 96,721 103,951 106,181 105,493 111,051
Community Development
Building permits issues 825 742 819 757 891 903 947 856 742 606
Inspections n/a n/a n/a n/a n/a 1,129 2,268 1,754 1,772 2,090
Estimated construction value $ 96,296,075 $ 66,309,097 $ 40,587,413 $ 57,455,832 $ 78,447,306 $ 73,549,628 $ 76,294,249 $ 81,953,372 $ 46,663,489 $ 51,776,407
Sports Core
B&T Recreation Membership 320 262 245 344 343 311 302 291 303 259
Social Memberships 104 98 148 88 189 122 106 120 129 80
Total Events 385 316 313 306 252 215 224 226 202 123
Golf Memberships 315 296 283 267 263 260 262 235 226 219
Total Golf Rounds 47,458 48,231 44,134 45,637 44,422 44,005 42,324 43,561 40,336 39,666
Data Source
Various village departments
n/a-Information was unavailable for this given period.
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I I I I I I I I I I I I I I I I I 1 I
Village of Oak Brook,Illinois
Capital Asset Statistics
Last Ten Fiscal Years
Function/Program 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Public Safety
Police
Stations 1 1 1 1 1 1 1 1 1 1
Area patrols 5 5 5 5 5 5 5 5 5 5
Patrol units 15 15 15 15 15 15 15 15 15 15
Fire
Fire stations 2 2 2 2 2 2 2 2 2 2
Fire trucks 7 7 7 7 7 7 7 7 7 7
Public Works
Arterial streets(miles) 8.5 8.5 8.5 8.5 8.5 9 9 8.5 8.5 8.5
Residential streets(miles) 55 55 55 48 48 49 49 49 49 49
Streetlights 573 565 565 565 565 565 565 565 565 565
Traffic intersections 11 11 11 11 11 11 11 11 11 11
Water
Water mains(miles) 115 115 115 115 115 115 115 115 105 105
Fire hydrants 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500
Storage capacity(gallons) 8.0 mil. 8.0 mil. 8.0 mil. 8.0 mil. 8.0 mil. 8.0 mil. 8.0 mil. 8.0 mil. 8.0 mil. 8.0 mil.
Data Source
Various village departments
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