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08 - August 2017 Monthly Financial ReportVILLAGE OAK BROOK OF MONTHLY FINANCIAL REPORTS AUGUST 2017 RG Total Cash and Cash Pooled Cash and Fund Equivalents Investments Investments % By Fund General Corporate $4,949,484 $13,366,462 $18,315,947 47.3% Hotel/Motel Tax 2,101,073 2,207,504 4,308,577 11.1% Motor Fuel Tax 393,814 478,744 872,559 2.3% TIF #1 Butterfield/Meyers 19,038 - 19,038 0.0% Water 3,298,379 860,976 4,159,355 10.7% Self-Insurance 393,203 - 393,203 1.0% Sports Core 625,192 - 625,192 1.6% Golf Surcharge - 504,178 504,178 1.3% Equipment Replacement 810,808 946,345 1,757,153 4.5% Infrastructure 4,055,411 3,348,836 7,404,246 19.1% Garage 369,924 - 369,924 1.0% Total $17,016,327 $21,713,045 $38,729,372 100.1% Change in Cash and Investments by Fund : Balance at Balance at Year-to-Date Year-to-Date Fund January 1, 2017 August 31, 2017 Change ($) Change (%) General Corporate $16,586,097 $18,315,947 $1,729,849 10.4% Hotel/Motel Tax 4,415,721 4,308,577 (107,144)-2.4% Motor Fuel Tax 909,926 872,559 (37,367)-4.1% TIF #1 Butterfield/Meyers 249,278 19,038 (230,240)-92.4% Water 2,732,210 4,159,355 1,427,145 52.2% Self-Insurance 589,849 393,203 (196,646)-33.3% Sports Core 268,828 625,192 356,363 132.6% Golf Surcharge 432,619 504,178 71,559 16.5% Equipment Replacement 1,510,026 1,757,153 247,127 16.4% Infrastructure 5,436,080 7,404,246 1,968,166 36.2% Garage 347,053 369,924 22,871 6.6% $33,477,688 $38,729,372 $5,251,683 15.7% Book Market Value Value Pooled Checking $387,745 $387,745 Sports Core Checking 840,771 840,771 Pooled IPTIP 15,777,062 15,777,062 Water E-Pay IPTIP 10,749 10,749 $17,016,327 $17,016,327 Pooled Investments: Certificates of Deposit $7,220,000 $7,211,373 Investments-Municipal 8,231,788 8,224,942 Investments-Corporate 4,411,866 4,408,276 Government & Agency Obligations 1,749,317 1,734,457 Accrued Interest 100,074 100,074 Total Pooled Investments $21,713,045 $21,679,122 Total Cash and Investments $38,729,372 $38,695,449 For August, total interest revenue is $41,506 and year to date is $271,351. Total investment yield for the portfolio is: Pooled Investments Illinois Funds Total Monthly yield 0.13% 0.10% 0.12% YTD yield 0.94% 0.57% 0.79% Last 12 months yield 1.34% 0.71% 1.09% The weighted average yield of the current pooled investment portfolio is 1.61%. Monthly Treasurer's Report August 31, 2017 Monthly Treasurer's Report August 2017 The table below lists the detail investment holdings at J.P. Morgan Securities as of 8/31/17: Month End VOB Settlement Maturity Coupon Yield Book Market Accrued Type Date Date Rate Rate Value Value Interest Municipal Bonds: Public Utility District #181117EP3 09/02/14 1/1/2018 1.667%1.650%$600,628 $600,810 $1,712 Florida Hurricane #34074GDG6 01/05/15 7/1/2018 2.107%2.090%751,894 753,563 2,620 Maryland St Econ Dev #57420PGK6 07/08/15 6/1/2019 2.050%2.123%99,873 100,940 511 Du Page County IL #263493TN8 07/20/15 10/1/2017 4.850%1.200%501,563 501,530 9,895 Rosemont IL GO Corp #777543UT4 02/08/16 12/1/2019 3.021%2.000%511,165 507,125 3,680 New York St Urban Dev Corp #650035J58 02/22/16 3/15/2018 1.650%1.150%175,467 175,383 1,323 New York N Y City #64971QTX1 02/22/16 5/1/2021 2.350%2.000%202,457 204,386 1,552 Florida Hurricane #34074GDH4 03/30/16 7/1/2020 2.995%2.150%511,515 513,910 2,495 Bloomingdale Mich Pub Sch Dist #094383FS0 04/26/16 5/1/2022 2.710%2.150%512,360 509,020 4,478 Milan Mich Area Achs #598801JD1 05/26/16 5/1/2020 1.931%1.931%245,000 243,760 1,576 Indiana Bd Bk Rev Taxable #4546248F7 01/06/17 1/15/2020 2.934%1.900%261,075 262,209 969 North Carolina Eastn Mun PWR #65819WAC7 01/30/17 7/1/2018 2.003%1.450%703,180 702,380 2,336 Garland Cnty Ark Sales & Use #36609PAN3 02/06/17 11/1/2019 1.795%1.840%499,520 497,860 3,116 Anchor Bay Mich Sch Dist GO #032879TA6 02/13/17 5/1/2019 1.810%1.420%367,346 366,756 2,125 Macomb Cnty Mich Retirees #554885H63 04/11/17 11/1/2018 1.731%1.300%401,996 400,992 2,265 Lanse Creuse Mich Pub Schs #516228RL9 05/02/17 5/1/2020 2.159%2.159%100,000 100,514 711 California St GO Bonds #13063A7G3 05/08/17 10/1/2019 6.200%1.600%547,110 546,930 12,635 *Genesee Cnty Mich #371608UV0 05/31/17 10/1/2019 1.831%1.831%750,000 750,219 1,110 Connecticut St GO Bds 2016 #20772J3F7 06/15/17 8/15/2021 1.750%2.300%489,639 486,655 336 Total Municipal Bonds $8,231,788 $8,224,942 $55,445 Corporate Bonds: MacCormick & Co #579780AF4 04/06/17 12/15/2017 5.750%1.401%$506,291 $505,535 $5,963 JP Morgan Chase #46625HJG6 06/08/17 1/25/2018 1.800%1.371%846,448 846,513 1,466 Goldman Sachs Group #38141GRC0 06/08/17 1/22/2018 2.375%1.531%1,003,301 1,002,890 2,487 Wachovia #92976WBH8 06/15/17 2/1/2018 5.750%1.360%1,052,005 1,050,458 4,588 Morgan Stanley #6174467U7 08/28/17 4/25/2018 2.125%1.531%1,003,821 1,002,880 7,438 Total Corporate Bonds $4,411,866 $4,408,276 $21,942 Government & Agency Obligations: **Government National Mtg Assn #38379UEM4 02/29/16 2/16/2051 2.300%2.245%$899,317 $884,887 $2,082 Fed Home Loan Bank #3130A9HF1 09/30/16 9/30/2019 0.750%1.280%600,000 599,592 750 Fed Home Loan Mtg Corp #3314GALU6 09/30/16 9/30/2019 0.800%1.852%250,000 249,978 833 Total Government & Agency Obligations:$1,749,317 $1,734,457 $3,665 Certificates of Deposit: Capital One Bank #140420PP9 09/23/14 10/2/2017 1.35%1.36%$245,000 $245,029 $1,383 Goldman Sachs Bank #38148JNW7 03/17/15 9/25/2017 1.15%1.15%245,000 245,034 1,220 Capital One Natl Assn VA #14042E5Z9 08/26/15 8/27/2018 1.75%1.75%245,000 245,475 491 FirstBank PR Santurce #33767ANR8 08/31/15 8/31/2017 1.30%1.30%0 0 271 Needham Co-Operative Bk #63983RAS8 10/07/15 10/10/2017 1.05%1.05%245,000 245,056 1,026 BMO Harris #05573J5A8 10/07/15 10/10/2017 1.10%1.10%245,000 245,054 1,074 Ally Bk Midvale Utah #02006LVC4 10/29/15 10/29/2018 1.60%1.60%245,000 245,419 1,312 Everbank Jacksonville #29976DD23 10/30/15 10/30/2017 1.05%1.05%245,000 244,998 861 Wex Bank Midvale Utah #92937CDY1 07/29/16 7/30/2018 1.00%1.00%245,000 244,101 218 Bank Hope Los Angeles #062683AB3 08/26/16 8/27/2018 1.00%1.00%245,000 243,618 27 Wells Fargo Bank Natl Assn #949763AL0 08/31/16 8/31/2018 1.10%1.10%245,000 243,616 7 BMW Bank #05580AFG4 09/23/16 9/24/2018 1.10%1.10%245,000 243,471 1,186 Comenity Cap Bank #20033ASB3 09/26/16 9/26/2018 1.10%1.10%245,000 243,457 34 Enerbank #29266N4E4 10/21/16 10/22/2018 1.10%1.10%245,000 243,790 977 Discover Bank #254672L71 10/26/16 10/26/2018 1.20%1.20%245,000 243,300 1,025 Bank of Baroda #06062QXT6 11/30/16 11/30/2017 0.95%0.95%245,000 244,895 1,746 State Bk India NY #8562846A7 01/26/17 1/26/2022 2.25%2.25%245,000 247,178 559 Marlin Business Bk #57116ANU8 05/10/17 11/12/2019 1.60%1.60%245,000 244,314 221 American Express Fed Svgs #02587CER7 05/10/17 11/12/2019 1.70%1.70%245,000 244,841 1,284 Synchrony Bank #87164WRA8 05/26/17 5/28/2019 1.65%1.65%245,000 245,002 1,044 Umpqua Bank #90421MAG8 05/31/17 5/31/2019 1.60%1.60%245,000 244,784 991 Stone Bk Mtn View Ark #86158RAJ8 06/28/17 6/28/2019 1.60%1.60%245,000 244,713 20 Investors Savings Bk #46176PGU3 06/30/17 4/2/2018 1.35%1.35%245,000 245,071 551 TIAA FSB Jacksonville #87270LAA1 07/19/17 7/19/2019 1.60%1.60%245,000 244,655 457 Peoples United Bank #71270QQZ2 07/19/17 7/19/2019 1.65%1.65%245,000 244,880 472 Priority Bank Ozark Ark #74269KBR6 07/26/17 7/26/2019 1.60%1.60%245,000 244,635 48 American Express Centurion #02587DV96 08/15/17 8/17/2020 1.90%1.90%245,000 245,353 194 Sallie Mae #795450C86 08/16/17 8/17/2020 1.90%1.90%245,000 245,353 194 Merrick Bank South Jordan #59013JZS1 08/21/17 8/21/2020 1.80%1.80%245,000 244,635 123 Pinnacle Bank #72345SFS5 08/30/17 8/31/2020 1.80%1.80%115,000 114,813 6 Jackson County Bank #466682AP6 08/31/17 3/1/2021 1.85%1.85%245,000 244,833 - Total Certificates of Deposits $7,220,000 $7,211,373 $19,022 Total J.P.Morgan Securities $21,612,971 $21,579,048 $100,074 *Interest rate is a floating rate that sets each month. Rate is determined at the one-month LIBOR rate plus 0.60%. **This is a mortgage backed security that receives principal payments each month based on mortgage repayments. Monthly principal payments will vary and the investment balance may be repaid before the 2/16/2051 maturity date. VILLAGE OF OAK BROOK Monthly Treasurer's Report August 31, 2017 Cash & Investments by Fund - Total $38.7 million General Corporate 47.29% Hotel/Motel Tax 11.12%Motor Fuel Tax 2.25% TIF #1 Butterfield/Meyers 0.05% Water 10.74% Self-Insurance 1.02% Sports Core 1.61% Golf Surcharge 1.30% Equipment Replacement 4.54%Infrastructure 19.12% Garage 0.96% Cash & Investments by Type - Total $38.7 million Checking, $1.2 Illinois Funds, $15.8 Certificates of Deposit, $7.2 Municipal Bonds, $8.2 Corporate Bonds, $4.4 Government & Agency Obligations, $1.8 Accrued Interest, $0.1 in millions YTD YTD Net Fund Budget Increase Increase Governmental Funds Revenues Expenditures (Decrease)(Decrease) General Fund (Major Fund)$16,417,543 $15,030,110 $1,387,433 ($300,985) Main operating fund of the Village. Hotel Fund (Major Fund)$805,792 $771,425 $34,367 ($988,145) Collects and spends resources from the 3% hotel/motel tax. Motor Fuel Tax Fund $141,707 $197,118 ($55,411) ($285,070) Collects and spends resources from the State motor fuel tax. Infrastructure Fund (Major Fund)$4,163,163 $1,961,555 $2,201,608 $1,466,625 Accounts for construction and maintenance of roadways, drainage, and safety path systems. Promenade TIF Fund (Major Fund)$227,835 $458,075 ($230,240) ($247,400) Accounts for the revenues and expenditures restricted to the Tax Increment Financing (TIF) district located at 22nd St. and Meyers Rd. Enterprise Funds Water Fund (Major Fund)$5,783,012 $4,019,587 $1,763,425 ($1,659,555) Collects user fees for the distribution of water and maintenance of infrastructure. Sports Core Fund (Major Fund)$2,780,881 $2,395,167 $385,714 $107,050 Accounts for revenues and expenses relating to administration, programs, food and beverage operations, and golf course. Golf Surcharge Fund $93,767 $0 $93,767 $87,935 Accounts for the collection of the $3 per round golf surcharge. Internal Service Funds Self Insurance Fund $2,082,151 $2,061,659 $20,492 ($23,540) Accounts for the Village's health insurance costs and the related contributions from the Village, employees, retirees, and other agencies. Garage Fund $498,840 $409,367 $89,473 ($57,535) Accounts for the maintenance of the Village's vehicle fleet and the related departmental reimbursements. Equipment Replacement Fund $566,207 $319,081 $247,126 $129,280 Accounts for the replacement of the Village's vehicle fleet and the related departmental contributions. Further information on the Village's major funds (as indicated above) can be found on the proceeding pages. Executive Summary on Village Funds Through August 31, 2017 8/31/17 8/31/17 8/31/16 8/31/17 YTD % of 2017 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Sales Tax 8,614,047$ 8,259,119$ 8,654,690$ 95% 13,048,000$ (354,928)$ Other Intergovernmental Tax 906,844 990,584 892,955 111% 1,265,235 83,740 Telecommunications/Utility Tax 3,994,221 4,013,842 3,887,680 103% 5,638,000 19,621 Licenses and Permits 1,393,905 1,631,406 1,381,135 118% 1,711,750 237,501 Charges for Services 646,922 616,878 655,050 94% 1,006,750 (30,044) Fines and Penalties 105,848 97,702 102,320 95% 153,590 (8,146) Administrative Towing Fees 25,175 28,875 33,320 87% 50,000 3,700 Interest on Investments 94,364 143,018 83,320 172% 125,000 48,654 Franchise/IMF Maint. Fee 167,541 107,597 155,400 69% 207,200 (59,944) Reimbursements From Other Funds 418,680 411,536 411,520 100% 617,300 (7,144) Miscellaneous Income 116,963 116,986 154,260 76% 231,675 23 Total Operating Revenues 16,484,510$ 16,417,543$ 16,411,650$ 100% 24,054,500$ (66,967)$ OPERATING EXPENDITURES Personnel 10,438,337$ 10,988,490$ 12,282,910$ 89% 17,788,210$ 550,153$ Materials and Supplies 265,629 273,410 385,330 71% 554,530 7,781 Operation and Contract 2,575,197 2,797,761 3,030,755 92% 4,344,325 222,564 Other Expenditures 96,450 90,436 90,420 100% 418,100 (6,014) Capital Outlay 257,149 880,013 923,220 95% 805,310 622,864 Total Operating Expenditures 13,632,762$ 15,030,110$ 16,712,635$ 90% 23,910,475$ 1,397,348$ SURPLUS (DEFICIT) OF REVENUES OVER EXPENDITURES 2,851,748$ 1,387,433$ (300,985)$ 144,025$ (1,464,315)$ INTERFUND TRANSACTIONS Transfers Out -$ -$ -$ 0% (73,505)$ -$ Interfund Loan - - - 0% - - Total Interfund Transactions -$ -$ -$ 0% (73,505)$ -$ NET FUND INCREASE (DECREASE)2,851,748$ 1,387,433$ (300,985)$ 70,520$ (1,464,315)$ Village of Oak Brook General Fund Financial Update For the Period Ending August 31, 2017 Total Total Revenues Expenditures 8/31/17 Actual $ 16,417,543 15,030,110$ 8/31/16 Actual $ 16,484,510 13,632,762$ % Change From Last Year -0.4% 10.2% Major Revenues Other Intergov. Licenses & Charges for Sales Tax Tax Telecom Tax Permits Services 8/31/17 Actual $ 8,259,119 $ 990,584 $ 4,013,842 $ 1,631,406 616,878 8/31/16 Actual $ 8,614,047 $ 906,844 $ 3,994,221 $ 1,393,905 646,922 % Change From Last Year -4.1% 9.2% 0.5% 17.0% -4.6% Five Year Trend Major Expenditures Materials & Operation & Other Personnel Supplies Contractual Expenditures Capital Outlay 8/31/17 Actual 10,988,490$ 273,410$ 2,797,761$ 90,436 880,013$ 8/31/16 Actual 10,438,337$ 265,629$ 2,575,197$ 96,450 257,149$ % Change From Last Year 5.3% 2.9% 8.6% -6.2% 242.2% Five Year Trend Expenditures by Department 8/31/16 8/31/17 8/31/17 8/31/17 2017 Difference Five YTD YTD YTD % of Annual Prior Year Department Actual Actual Budget Budget Budget Year Trend Legislative & General Management 1,566,409$ 1,822,516$ 2,041,070$ 89.3% 2,883,255$ 256,107$ Five Year Trend For the Period Ending August 31, 2017 General Fund - Five Year Trend Village of Oak Brook Revenues Expenditures Financial Services 630,867 562,119 579,420 97.0% 1,116,445 (68,748) Public Works 366,222 464,520 485,205 95.7% 752,340 98,298 Engineering & Capital Projects 175,616 603,770 532,785 113.3% 372,500 428,154 Library 615,880 611,179 699,795 87.3% 989,470 (4,701) Police 5,303,034 5,533,075 5,955,205 92.9% 8,609,255 230,041 Fire 4,363,861 4,784,878 5,742,715 83.3% 8,205,100 421,017 Development Services 610,873 648,053 676,440 95.8% 982,110 37,180 Total Expenditures 13,632,762$ 15,030,110$ 16,712,635$ 89.9% 23,910,475$ 1,397,348$ Explanation of Major Changes From Last Year: Sales Tax revenue is down $354,928 compared to revenue through August 2016. This is due to non-routine receipts received from a top taxpayer in 2016. Total Sales Tax revenue through August 2017 is $395,571 under budget due to the timing of receipts from new businesses and slowed retail growth. Other Intergovernmental Tax revenue is up $83,740 compared to revenue through August 2016. This is due to increases in State Income Tax due to an acceleration in payments from the State and general increases in Replacement Tax revenue. Total Intergovernmental Tax revenue through August 2017 is $97,629 over budget. Licenses & Permits revenue is up $237,501 compared to collections through August 2016. This is primarily due to increases in building permits and accessory structure permits. Total Licenses & Permits revenue through August 2017 is over budget by $250,271. The Village issued a building permit during May 2017 that resulted in nearly $300,000 in revenue. Personnel expenditures are up $550,153 comapred to payments through August 2016. This is primarily due to general increases in wages, insurance, and pension payments. Total Personnel expenditures through August 2017 are $1,294,420 under budget due to public safety pensions being funded lower than budgeted. Operation & Contractual expenditures are up $222,564 compared to payments through August 2016. This is due to increased litigation services and increases in liability insurance premiums and claims. Total Operation & Contractual expenditures through August 2017 are $232,994 under budget due to general timing of payments. Capital Outlay expenditures are up $622,864 compared to payments through August 2016. This is due to major projects performed early in 2017 such as the BGC restroom renovation project, fire department humidifier installation, and BGC electrical upgrade. Total Capital Outlay expenditures through August 2017 are $43,207 under budget. 8/31/17 8/31/17 8/31/16 8/31/17 YTD % of 2017 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Hotel Tax 759,968$ 763,479$ 681,735$ 112% 1,266,000$ 3,511$ Interest 21,851 30,982 14,640 212% 22,000 9,131 Miscellaneous - 11,331 - N/A - 11,331 Total Operating Revenues 781,819$ 805,792$ 696,375$ 116% 1,288,000$ 23,973$ EXPENDITURES Operation and Contract 261,643$ 271,629$ 397,280$ 68% 595,975$ 9,986$ Other Expenditures 60,200 62,264 62,240 100% 93,400 2,064 Capital Outlay 4,098 437,532 1,225,000 36% 1,837,500 433,434 Total Expenditures 325,941$ 771,425$ 1,684,520$ 46% 2,526,875$ 445,484$ NET FUND INCREASE (DECREASE)455,878$ 34,367$ (988,145)$ (1,238,875)$ (421,511)$ Note - Expenditures are recorded in program 171. Village of Oak Brook Hotel Tax Fund Financial Update For the Period Ending August 31, 2017 Total Total Revenues Expenditures 8/31/17 Actual $ 805,792 771,425$ 8/31/16 Actual $ 781,819 325,941$ % Change From Last Year 3.1%136.7% Major Revenues Grants Hotel Tax Interest Miscellaneous 8/31/17 Actual $ - $ 763,479 $ 30,982 $ 11,331 8/31/16 Actual $ - $ 759,968 $ 21,851 $ - % Change From Last Year 0.0%0.5%41.8%N/A Five Year Trend Major Expenditures Operation &Other Contractual Expenditures Capital Outlay Village of Oak Brook Hotel Tax Fund - Major Sources Five Year Trend For the Period Ending August 31, 2017 Five Year Trend Revenues Expenditures 8/31/17 Actual 271,629$ 62,264$ 437,532$ 8/31/16 Actual 261,643$ 60,200$ 4,098$ % Change From Last Year 3.8%3.4%10576.7% Five Year Trend Explanation of Major Changes From Last Year: Hotel Tax revenue is up $3,511 compared to collections through August 2016. This is related to general increases in receipts. Total Hotel Tax revenue through August 2017 is over budget by $81,744 because of general increases in receipts and the timing of when receipts have been received. Operation & Contractual expenditures are up $9,986 compared to payments through August 2016. This is related to engineering costs for a 22nd Street beautification project. Total Operation & Contractual expenditures through August 2017 are under budget by $125,651 due to the timing of DCVB quarterly dues and advertising payments. Capital Outlay expenditures are up $433,434 compared to payments through August 2016. This is related to 22nd St. construction costs that were delayed from 2016. Total Capital Outlay expenditures through August 2017 are under budget by $787,468 due to the timing of payments. 8/31/17 8/31/17 8/31/16 8/31/17 YTD % of 2017 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Sales Tax 3,979,010$ 3,811,181$ 3,979,960$ 96% 5,982,000$ (167,829)$ Grants - 3,142 - N/A - 3,142 Interest 27,076 46,261 18,320 253% 27,500 19,185 Miscellaneous (1,645) 5,745 3,320 173% 5,000 7,390 Reimbursements From Other Funds 120,024 117,760 117,760 100% 176,635 (2,264) Total Operating Revenues 4,124,465$ 3,984,089$ 4,119,360$ 97% 6,191,135$ (140,376)$ OPERATING EXPENDITURES Personnel 945,990$ 810,029$ 885,085$ 92% 1,474,390$ (135,961)$ Materials and Supplies 80,599 71,896 248,100 29% 351,095 (8,703) Operation and Contract 805,992 836,639 948,240 88% 1,132,435 30,647 Other Expenditures 103,336 108,336 108,320 100% 162,500 5,000 Capital Outlay 1,170,372 134,655 887,500 15% 1,755,000 (1,035,717) - Total Operating Expenditures 3,106,289$ 1,961,555$ 3,077,245$ 64% 4,875,420$ (1,144,734)$ SURPLUS (DEFICIT) OF REVENUES OVER EXPENDITURES 1,018,176$ 2,022,534$ 1,042,115$ 194% 1,315,715$ 1,004,358$ INTERFUND TRANSACTIONS Transfers In -$ 179,074$ 424,510$ 42% 561,765$ 179,074$ Total Interfund Transactions -$ 179,074$ 424,510$ 42% 561,765$ 179,074$ NET FUND INCREASE (DECREASE)1,018,176$ 2,201,608$ 1,466,625$ 1,877,480$ 1,183,432$ Village of Oak Brook Infrastructure Fund Financial Update For the Period Ending August 31, 2017 Total Total Revenues Expenditures 8/31/17 Actual $ 3,984,089 1,961,555$ 8/31/16 Actual $ 4,124,465 3,106,289$ % Change From Last Year -3.4%-36.9% Major Revenues Sales Tax Grants Interest Miscellaneous Reimbursements 8/31/17 Actual $ 3,811,181 $ 3,142 $ 46,261 $ 5,745 $ 117,760 8/31/16 Actual $ 3,979,010 $ - $ 27,076 $ (1,645) $ 120,024 % Change From Last Year -4.2%N/A 70.9%-449.2%-1.9% Five Year Trend Major Expenditures Materials &Operation &Other Personnel Supplies Contractual Expenditures Capital Outlay 8/31/17 Actual 810,029$ 71,896$ 836,639$ 108,336$ 134,655$ 8/31/16 Actual 945,990$ 80,599$ 805,992$ 103,336$ 1,170,372$ % Change From Last Year -14.4%-10.8%3.8%4.8%-88.5% Five Year Trend Five Year Trend Village of Oak Brook Infrastructure Fund - Major Sources Five Year Trend For the Period Ending August 31, 2017 Revenues Expenditures Expenditures by Department 8/31/16 8/31/17 8/31/17 8/31/17 2017 Difference Five YTD YTD YTD % of Annual Prior Year Actual Actual Budget Budget Budget Year Trend Legislative & General Management 91,428$ 115,662$ 115,500$ 100.1% 174,430$ 24,234$ Public Works 1,342,520 1,561,067 1,882,735 82.9% 2,697,845 218,547 Engineering & Capital Projects 1,672,341 284,826 1,079,010 26.4% 2,003,145 (1,387,515) Total Expenditures 3,106,289$ 1,961,555$ 3,077,245$ 63.7% 4,875,420$ (1,144,734)$ Explanation of Major Changes From Last Year: Sales Tax revenue is down $167,829 compared to revenue through August 2016. This is due to non-routine receipts received from a top taxpayer in 2016. Total Sales Tax revenue through August 2017 is $168,779 under budget due to the timing of receipts from new businesses and slowed retail growth. Personnel expenditures are down $135,961 compared to payments through August 2016. This is primarily due to a decrease in hours needed for snow removal overtime and a reduction in headcount related to the outsourcing of the Village engineering function. Total Personnel costs through August 2017 are $75,056 under budget due to less time spent on snow removal. Operation & Contractual expenditures are up $30,647 compared to payments through August 2016. This is due to payments for outsourced engineering services that started in 2017. Total Operation & Contractual expenditures through August 2017 are $111,601 under budget due to the timing of general maintenance payments. Capital Outlay expenditures are down $1,035,717 compared to payments through August 2016. This is due to the timing of payments. Total Capital Outlay expenditures through August 2017 are $752,845 under budget due to the timing of capital projects. 8/31/17 8/31/17 8/31/16 8/31/17 YTD % of 2017 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Sales Tax 34,842$ 35,077$ 33,500$ 105% 100,500$ 235$ Real Estate Tax 177,415 192,509 177,500 108% 355,000 15,094 Interest 125 249 50 498% 100 124 Total Operating Revenues 212,382$ 227,835$ 211,050$ 108% 455,600$ 15,453$ EXPENDITURES Operation and Contract 3,938$ 3,695$ 4,070$ 91% 4,070$ (243)$ Other Expenditures 435,220 454,380 454,380 100% 454,380 19,160 Total Expenditures 439,158$ 458,075$ 458,450$ 100% 458,450$ 18,917$ NET FUND INCREASE (DECREASE)(226,776)$ (230,240)$ (247,400)$ (2,850)$ (3,464)$ Note - Expenditures are recorded in program 283. Village of Oak Brook Promenade TIF Fund Financial Update For the Period Ending August 31, 2017 Total Total Revenues Expenditures 8/31/17 Actual $ 227,835 458,075$ 8/31/16 Actual $ 212,382 439,158$ % Change From Last Year 7.3% 4.3% Major Revenues Real Estate Sales Tax Tax Interest 8/31/17 Actual $ 35,077 $ 192,509 $ 249 8/31/16 Actual $ 34,842 $ 177,415 $ 125 % Change From Last Year 0.7% 8.5% 99.2% Five Year Trend Major Expenditures Operation & Other Contractual Expenditures 8/31/17 Actual 3,695$ 454,380$ 8/31/16 Actual 3,938$ 435,220$ Village of Oak Brook Promenade TIF Fund - Major Sources Five Year Trend For the Period Ending August 31, 2017 Five Year Trend Revenues Expenditures 8/31/16 Actual 3,938$ 435,220$ % Change From Last Year -6.2% 4.4% Five Year Trend Explanation of Major Changes From Last Year: Real Estate Tax revenue is up $15,094 compared to revenue through August 2016. This is due to general property value increases within the TIF. Total Real Estate Tax revenue through August 2017 is $15,009 over budget due to the property valuation being higher than anticipated. Other Expenditures are up $19,160 compared to payments through August 2016. This is due to an increase in TIF note payable principal payments to the bondholders. 8/31/17 8/31/17 8/31/16 8/31/17 YTD % of 2017 Difference YTD YTD Amended Amended Adopted Prior Actual Actual Budget Budget Budget Year OPERATING REVENUES Grants -$ 3,386$ -$ N/A -$ 3,386$ Plan Review Fees 1,209 1,339 1,320 101% 2,000 130 Building/Inspection Fees 4,038 5,314 3,000 177% 4,500 1,276 Water Sales 5,108,546 5,516,522 5,546,330 99% 9,143,000 407,976 Unmetered Sales 15,764 25,003 16,640 150% 25,000 9,239 Water Connection Fees 41,083 128,570 20,000 643% 30,000 87,487 Fire Service Charge 9,486 - 6,680 0% 10,000 (9,486) Meter Charges 16,641 14,246 16,680 85% 25,000 (2,395) Special Services 15,620 15,286 15,500 99% 31,000 (334) Interest on Investments 7,445 22,095 6,680 331% 10,000 14,650 Miscellaneous 48,448 51,251 43,320 118% 65,000 2,803 Total Operating Revenues 5,268,280$ 5,783,012$ 5,676,150$ 102% 9,345,500$ 514,732$ EXPENDITURES Personnel 545,477$ 548,421$ 575,730$ 95% 835,110$ 2,944$ Materials and Supplies 36,639 34,704 46,720 74% 70,660 (1,935) Operation and Contract 3,486,438 3,119,487 4,363,215 71% 6,547,735 (366,951) Other Expenditures 282,480 267,736 267,720 100% 401,600 (14,744) Capital Outlay 63,422 49,239 2,082,320 2% 3,235,010 (14,183) Total Expenditures 4,414,456$ 4,019,587$ 7,335,705$ 55% 11,090,115$ (394,869)$ NET FUND INCREASE (DECREASE)853,824$ 1,763,425$ (1,659,555)$ (1,744,615)$ 909,601$ Village of Oak Brook Water Fund Financial Update For the Period Ending August 31, 2017 Total Total Revenues Expenditures 8/31/17 Actual $ 5,783,012 4,019,587$ 8/31/16 Actual $ 5,268,280 4,414,456$ % Change From Last Year 9.8%-8.9% Unmetered Water Water Sales Sales Connection Fees Meter Charges Miscellaneous 8/31/17 Actual $ 5,516,522 $ 25,003 $ 128,570 $ 14,246 $ 51,251 8/31/16 Actual $ 5,108,546 $ 15,764 $ 41,083 $ 16,641 $ 48,448 % Change From Last Year 8.0%58.6%213.0%-14.4%5.8% Five Year Trend Materials &Operation &Other Personnel Supplies Contractual Expenditures Capital Outlay 8/31/17 Actual 548,421$ 34,704$ 3,119,487$ 267,736$ 49,239$ 8/31/16 Actual 545,477$ 36,639$ 3,486,438$ 282,480$ 63,422$ % Change From Last Year 0.5%-5.3%-10.5%-5.2%-22.4% Five Year Trend Expenditures by Department Five Year Trend Village of Oak Brook Water Fund - Major Sources Five Year Trend For the Period Ending August 31, 2017 Revenues Expenditures Expenditures by Department 8/31/16 8/31/17 8/31/17 8/31/17 2017 Difference Five YTD YTD YTD % of Annual Prior Year Actual Actual Budget Budget Budget Year Trend Public Works 4,414,456$ 3,978,546$ 5,347,680$ 74.4% 7,912,070$ (435,910)$ Engineering & Capital Projects - 41,041 1,988,025 0.0% 3,178,045 41,041 Total Expenditures 4,414,456$ 4,019,587$ 7,335,705$ 54.8% 11,090,115$ (394,869)$ Explanation of Major Changes From Last Year: Water Sales revenue is up $407,976 compared to collections through August 2016. This is due to a 10% rate increase adopted January 1, 2017. Total Water Sales revenue through August 2017 is under budget by $29,808 due to less gallons being billed than projected. Water Connection Fees revenue is up $87,487 compared to collections through August 2016. This is due to construction of the Rush Midwest Orthopedics building. Total Water Connection Fees revenue through August 2017 is over budget by $108,570 due to the exact timing of the Rush building fees not being originally known. Operation & Contractual expenditures are down $366,951 compared to payments through August 2016. This is due to total gallons pumped from DuPage Water Commission being less than projected and the DuPage Water Commission rate increase being less than anticipated. Operation & Contractual expenditures through August 2017 are under budget by $1,243,728 due to the timing of bills being paid to DuPage Water Commission and those bills being slightly less than projected. Capital Outlay expenditures are down $14,183 compared to payments through August 2016. This is due to general timing of payments. Capital Outlay expenditures through August 2017 are under budget by $2,033,081 due to the meter replacement project happening later than originally planned. Village of Oak BrookMonthly Operating StatementSports Core Fund Consolidated PresentationFor the Period Ending August 31, 20178/31/17 8/31/178/31/17 YTD % of 2017 8/31/16 DifferenceB&T Recreation Food & Golf YTD Amended Amended Adopted YTD PriorPrograms Beverage Club Total Budget Budget Budget Total YearDIRECT REVENUESMemberships223,140$ 2,400$ 189,963$ 415,503$ 453,080$ 92% 443,580$ 405,193$ 10,310$ Greens Fees- - 718,283 718,283 650,460 110% 840,000 652,524 65,759 Pro Shop Sales- - 143,288 143,288 150,890 95% 190,000 138,015 5,273 Golf Lessons- - 36,977 36,977 30,250 122% 30,250 39,366 (2,389) Driving Range Fees- - 207,846 207,846 200,500 104% 225,000 199,198 8,648 Rentals- - 277,380 277,380 263,290 105% 327,850 265,480 11,900 Programs/User Fees302,769 - - 302,769 262,120 116% 387,750 207,821 94,948 Food Sales- 138,162 - 138,162 130,460 106% 163,850 128,873 9,289 Beverage Sales- 207,862 - 207,862 185,815 112% 199,300 183,241 24,621 Other Revenue192,722 115,231 3,522 311,475 287,610 108% 351,900 293,793 17,682 Total Direct Revenues718,631$ 463,655$ 1,577,259$ 2,759,545$ 2,614,475$ 106% 3,159,480$ 2,513,504$ 246,041$ DIRECT EXPENDITURESPersonnel167,912$ 160,945$ 730,455$ 1,059,312$ 1,074,785$ 99% 1,609,185$ 1,028,703$ 30,609$ Materials & Supplies34,138 164,058 250,004 448,200 555,375 81% 700,870 423,367 24,833 Operational & Contractual425,642 64,260 198,765 688,667 766,585 90% 1,047,630 745,028 (56,361) Other- - - - (20,000) 0% (206,200) (20,000) 20,000 Capital51,521 92,773 54,694 198,988 201,000 99% 226,000 124,262 74,726 Total Direct Expenditures679,213$ 482,036$ 1,233,918$ 2,395,167$ 2,577,745$ 93% 3,377,485$ 2,301,360$ 93,807$ Direct Revenues Over (Under) Expenditures39,418$ (18,381)$ 343,341$ 364,378$ 36,730$ 992% (218,005)$ 212,144$ 152,234$ B&T Administration Overhead Allocation* 114,564$ (114,564)$ -$ -$ -$ 0% -$ -$ -$ Operating Revenues Over (Under) Expenditures153,982$ (132,945)$ 343,341$ 364,378$ 36,730$ 992% (218,005)$ 212,144$ 152,234$ Interfund Loan**-$ -$ -$ -$ -$ 0% -$ -$ -$ Transfer From General Fund- - - - 49,000 0% 73,505 - - Transfer From Infrastructure Fund 16,000 - - 16,000 16,000 100% 24,000 16,000 - Transfer From Water Fund5,336 - - 5,336 5,320 100% 8,000 5,336 - Adjusted Operating Revenues Over (Under) Expenditures175,318$ (132,945)$ 343,341$ 385,714$ 107,050$ (112,500)$ 233,480$ 152,234$ *Overhead allocation is comprised of salaries, business forms, liability insurance, building & grounds maintenance and bank service fees in Program 811 - Sports Core General Operations distributed to various Sports Core Programs on a % basis.**Interfund loan is from the General Fund. Total Direct Total Direct Revenues Expenditures 8/31/17 Actual $ 2,759,545 2,395,167$ 8/31/16 Actual $ 2,513,504 2,301,360$ % Change From Last Year 9.8% 4.1% Driving Program/ Memberships Greens Fees Range Fees Rentals User Fees 8/31/17 Actual $ 415,503 $ 718,283 $ 207,846 $ 277,380 $ 302,769 8/31/16 Actual $ 405,193 $ 652,524 $ 199,198 $ 265,480 $ 207,821 % Change From Last Year 2.5% 10.1% 4.3% 4.5% 45.7% Five Year Trend Materials & Operation & Other Personnel Supplies Contractual Expenditures Capital Outlay 8/31/17 Actual 1,059,312$ 448,200$ 688,667$ -$ 198,988$ 8/31/16 Actual 1,028,703$ 423,367$ 745,028$ (20,000)$ 124,262$ % Change From Last Year 3.0% 5.9% -7.6% 0.0% 60.1% Five Year Trend Revenues by Department 8/31/16 8/31/17 8/31/17 8/31/17 2017 Difference Five YTD YTD YTD % of Annual Prior Year Actual Actual Budget Budget Budget Year Trend B&T Recreation Programs 623,753$ 718,631$ 646,495$ 111.2% 842,830$ 94,878$ Food & Beverage 408,615 463,655 127,800 362.8% 532,350 52,640 Golf Club 1,481,136 1,577,259 567,997 277.7%1,784,300 96,123 Five Year Trend Village of Oak Brook Sports Core Fund - Major Sources Five Year Trend For the Period Ending August 31, 2017 Revenues Expenditures Golf Club 1,481,136 1,577,259 567,997 277.7%1,784,300 96,123 Total Revenues 2,513,504$ 2,759,545$ 1,342,292$ 205.6% 3,159,480$ 243,641$ Expenditures by Department 8/31/16 8/31/17 8/31/17 % of 2017 Difference Five YTD YTD YTD % of Annual Prior Year Actual Actual Budget Budget Budget Year Trend B&T Recreation Programs 715,333$ 679,213$ 344,363$ 197.2% 992,140$ (36,120)$ Food & Beverage 418,646 482,036 281,968 171.0% 633,545 63,390 Golf Club 1,167,381 1,233,918 778,751 158.4% 1,751,800 66,537 Total Expenditures 2,301,360$ 2,395,167$ 1,405,082$ 170.5% 3,377,485$ 93,807$ Explanation of Major Changes From Last Year: Memberships revenue is up $10,310 compared to collections through August 2016. This is due to an increase in Golf Club memberships compared to last year. Total Memberships revenue through August 2017 is $37,577 under budget due to Bath & Tennis Club memberships being lower than projected. Greens Fees revenue is up $65,759 compared to collections through August 2016. This is due to the weather allowing the golf course to open early in 2017. Total Greens Fees revenue through August 2017 is $67,823 over budget due to the course opening early during the 2017 season. Program/User Fees revenue is up $94,948 compared to collections through August 2016. This is due to the timing of field rental receipts being collected vs. last year. Total Program/User Fees revenue through August 2017 is $40,649 over budget due to field rental receipts being received earlier than anticipated. Materials & Supplies expenditures are up $24,833 compared to payments through August 2016. This is due to the timing of golf maintenance payments. Total Operation & Contractual expenditures through August 2017 are $107,175 under budget due to the timing of payments for food and beverage inventory. Operation & Contractual expenditures are down $56,361 compared to payments through August 2016. This is due to emergency repairs at the B&T Clubhouse in 2016. Total Operation & Contractual expenditures through August 2017 are $77,918 under budget due to the general timing of payments. Capital Outlay expenditures are up $74,726 compared to payments through August 2016. This is due to the renovation project at the B&T Clubhouse in 2017. Total Capital Outlay expenditures through August 2017 are $2,012 under budget due to the timing of the B&T renovation project and delay in Golf capital spending. Village of Oak BrookMonthly Operating StatementBath & Tennis Club Recreation ProgramsFor the Period Ending August 31, 20178/31/17 8/31/178/31/17 YTD % of 2017 8/31/16 Difference811 812 813 815 816 YTD Amended Amended Adopted YTD PriorB&T Admin Swimming Tennis Polo Open Fields Total Budget Budget Budget Total YearRevenues:Memberships-$ 215,752$ 7,388$ -$ -$ 223,140$ 273,080$ 82% 273,080$ 224,931$ (1,791)$ Programs/User Fees(4,507) 88,738 16,700 - 201,838 302,769 262,120 116% 387,750 207,821 94,948 Beverage Sales- - - - - - 300 0% 300 - - Other Revenue1,217 3,070 125 - 188,310 192,722 181,280 106% 181,700 191,001 1,721 Total Revenue(3,290)$ 307,560$ 24,213$ -$ 390,148$ 718,631$ 716,780$ 100% 842,830$ 623,753$ 94,878$ Expenditures:Personnel107,077$ 34,662$ 21,132$ -$ 5,041$ 167,912$ 177,690$ 94% 226,335$ 150,384$ 17,528$ Materials & Supplies 19,415 8,891 4,042 - 1,790 34,138 56,410 61% 66,700 29,295 4,843 Operational & Contractual 81,547 118,260 14,229 35,000 176,606 425,642 483,765 88% 638,105 493,427 (67,785) Capital828 30,070 - - 20,623 51,521 61,000 84% 61,000 42,227 9,294 Total Expenditures208,867$ 191,883$ 39,403$ 35,000$ 204,060$ 679,213$ 778,865$ 87% 992,140$ 715,333$ (36,120)$ Direct Revenues Over (Under) Expenditures(212,157)$ 115,677$ (15,190)$ (35,000)$ 186,088$ 39,418$ (62,085)$ -63% (149,310)$ (91,580)$ 130,998$ B&T Administration Overhead Allocation* 212,157$ (76,377)$ (21,216)$ -$ -$ 114,564$ 117,945$ 97% 176,890$ 51,176$ 63,388$ Revenues Over (Under) Expenditures-$ 39,300$ (36,406)$ (35,000)$ 186,088$ 153,982$ 55,860$ 276% 27,580$ (40,404)$ 194,386$ Interfund Loan**-$ -$ -$ -$ -$ -$ -$ 0% -$ -$ -$ Transfer From General Fund - - - - - - 49,000 0% 73,505 - - Transfer From Infrastructure Fund 16,000 - - - - 16,000 16,000 100% 24,000 16,000 - Transfer From Water Fund 5,336 - - - - 5,336 5,320 100% 8,000 5,336 - Adjusted Revenues Over (Under) Expenditures21,336$ 39,300$ (36,406)$ (35,000)$ 186,088$ 175,318$ 126,180$ 133,085$ (19,068)$ 194,386$ *Overhead allocation is comprised of salaries, business forms, liability insurance, building & grounds maintenance and bank service fees in Program 811 - Sports Core General Operations distributed to various Sports Core Programs on a percentage basis.**Interfund loan is from the General Fund. Village of Oak BrookMonthly Operating StatementSports Core Food & Beverage ProgramsFor the Period Ending August 31, 20178/31/17 8/31/17821 822 823 8/31/17 YTD % of 2017 8/31/16 DifferenceB&T Poolside Golf YTD Amended Amended Adopted YTD Prior Clubhouse Café Clubhouse Total Budget Budget Budget Total YearRevenues:Memberships2,400$ -$ -$ 2,400$ -$ 0% 4,500$ -$ -$ Food Sales- 39,535 98,627 138,162 130,460 106% 163,850 128,873 9,289 Beverage Sales- 20,202 187,660 207,862 185,515 112% 199,000 183,241 24,621 Other Revenue115,231 - 115,231 101,000 114% 165,000 96,501 18,730 Total Revenue117,631$ 59,737$ 286,287$ 463,655$ 416,975$ 111% 532,350$ 408,615$ 52,640$ Expenditures:Personnel62,415$ 20,924$ 77,606$ 160,945$ 159,920$ 101% 226,890$ 160,088$ 857$ Materials & Supplies3,621 39,046 121,391 164,058 169,945 97% 210,920 158,494 5,564 Operational & Contractual 57,843 1,920 4,497 64,260 101,940 63% 160,735 100,064 (35,804) Capital76,400 16,373 - 92,773 35,000 265% 35,000 - 92,773 Total Expenditures200,279$ 78,263$ 203,494$ 482,036$ 466,805$ 103% 633,545$ 418,646$ 63,390$ Direct Revenues Over (Under) Expenditures(82,648)$ (18,526)$ 82,793$ (18,381)$ (49,830)$ 37% (101,195)$ (10,031)$ (8,350)$ B&T Administration Overhead Allocation* (106,078)$ (8,486)$ -$ (114,564)$ (117,945)$ 97% (176,890)$ (51,176)$ (63,388)$ Revenues Over (Under) Expenditures(188,726)$ (27,012)$ 82,793$ (132,945)$ (167,775)$ 79% (278,085)$ (61,207)$ (71,738)$ Transfer From General Fund -$ -$ -$ -$ -$ 0% -$ -$ -$ Adjusted Revenues Over (Under) Expenditures(188,726)$ (27,012)$ 82,793$ (132,945)$ (167,775)$ (278,085)$ (61,207)$ (71,738)$ *Overhead allocation is comprised of salaries, business forms, liability insurance, building & grounds maintenance and bank service fees in Program 811 - Sports Core General Operations distributed to various Sports Core Programs on a percentage basis. Village of Oak BrookMonthly Operating StatementGolf Club ProgramsFor the Period Ending August 31, 20178/31/17 8/31/17831 832 833 834 8/31/17 YTD % of 2017 8/31/16 DifferenceGolf General Golf Learning Golf Cart Golf Course YTD Amended Amended Adopted YTD PriorOperation & Practice Operations Maintenance Total Budget Budget Budget Total YearRevenues:Memberships189,963$ -$ -$ -$ 189,963$ 180,000$ 106% 166,000$ 180,262$ 9,701$ Greens Fees718,283 - - - 718,283 650,460 110% 840,000 652,524 65,759 Pro Shop Sales143,288 - - - 143,288 150,890 95% 190,000 138,015 5,273 Golf Lessons- 36,977 - - 36,977 30,250 122% 30,250 39,366 (2,389) Driving Range Fees- 207,846 - - 207,846 200,500 104% 225,000 199,198 8,648 Rentals3,373 - 274,007 - 277,380 263,290 105% 327,850 265,480 11,900 Other Revenue3,522 - - - 3,522 5,330 66% 5,200 6,291 (2,769) Total Revenue1,058,429$ 244,823$ 274,007$ -$ 1,577,259$ 1,480,720$ 107% 1,784,300$ 1,481,136$ 96,123$ Expenditures:Personnel329,981$ 41,439$ 39,010$ 320,025$ 730,455$ 737,175$ 99% 1,155,960$ 718,231$ 12,224$ Materials & Supplies104,511 11,243 4,738 129,512 250,004 329,020 76% 423,250 235,578 14,426 Operational & Contractual 151,286 212 4,264 43,003 198,765 180,880 110% 248,790 151,537 47,228 Other- - - - - (20,000) 0% (206,200) (20,000) 20,000 Capital19,717 - 17,772 17,205 54,694 105,000 52% 130,000 82,035 (27,341) Total Expenditures605,495$ 52,894$ 65,784$ 509,745$ 1,233,918$ 1,332,075$ 93% 1,751,800$ 1,167,381$ 66,537$ Direct Revenues Over (Under) Expenditures452,934$ 191,929$ 208,223$ (509,745)$ 343,341$ 148,645$ 231% 32,500$ 313,755$ 29,586$ Transfer from General Fund -$ -$ -$ -$ -$ -$ 0% -$ -$ -$ Adjusted Revenues Over (Under) Expenditures452,934$ 191,929$ 208,223$ (509,745)$ 343,341$ 148,645$ 32,500$ 313,755$ 29,586$