HomeMy WebLinkAbout2011 Annual Comprehensive Financial ReportCITY OF EVANSTON, ILLINOIS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE TEN MONTHS ENDED
December 31, 2011
Prepared by Administrative Services Department
CITY OF EVANSTON, ILLINOIS
Table of Contents
PAGE
Principal Officials 2
Organization Chart 3
Letter of Transmittal 4
Certificate of Achievement for Excellence in Financial Reporting 13
INDEPENDENT AUDITORS' REPORT ON THE FINANCIAL STATEMENTS 15
MANAGEMENT'S DISCUSSION AND ANALYSIS 18
BASIC FINANCIAL STATEMENTS
Statement of Net Assets 27
Statement of Activities 29
Governmental Funds Balance Sheet 31
Governmental Funds Statement of Revenues, Expenditures,
and Changes in Fund Balances 32
Reconciliation of the Statement of Revenues, Expenditures, and Changes
in Fund Balances of Governmental Funds to the Statement of Activities 33
Proprietary Funds Statement of Net Assets 34
Proprietary Funds Combining Statement of Revenues, Expenses, and
Changes in Fund Net Assets 36
Proprietary Funds Statement of Cash Flows 37
Fiduciary Funds - Statement of Net Assets 39
Fiduciary Funds - Pension Trust Funds - Statement of Changes in
Plan Net Assets 40
Notes to the Financial Statements
Index for Notes to the Financial Statements 41
Notes to the Financial Statements 44
REQUIRED SUPPLEMENTARY INFORMATION
Firefighters' Pension Fund, Police Pension Fund, and Illinois Municipal
Retirement Fund - Schedules of Funding Progress and Post Employment Benefits 99
Firefighters' and Police Pension Funds - Schedules of
Employer Contribution 100
General Fund - Schedule of Revenues, Expenditures, and Changes
in Fund Balance - Budget and Actual (Budgetary Basis)101
Notes to the Required Supplementary Information
Digest of Changes - IMRF 102
Conversion from GAAP basis to Budgetary basis 102
INTRODUCTORY SECTION
FINANCIAL SECTION
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CITY OF EVANSTON, ILLINOIS
Table of Contents
PAGE
GOVERNMENTAL FUND TYPES
Nonmajor Governmental Funds Combining Balance Sheet 106
Nonmajor Governmental Funds Combining Statements of Revenues,
Expenditures, and Changes in Fund Balances 111
GENERAL FUND
Schedule of Revenues - Budget and Actual (Budgetary Basis) 116
Schedule of Expenditures - Budget and Actual (Budgetary Basis)122
SPECIAL REVENUE FUNDS
Motor Fuel Tax Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)124
Economic Development Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)125
Emergency Telephone System Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)126
Neighborhood Improvement
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)127
Affordable Housing Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)128
HOME Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)129
Community Development Block Grant Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)130
Schedule of Expenditures - Budget and Actual (Budgetary Basis)131
Community Development Loan
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)133
Neighborhood Stabilization Program 2
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)134
COMBINING AND INDIVIDUAL FUND
STATEMENTS AND SCHEDULES
ii
CITY OF EVANSTON, ILLINOIS
Table of Contents
PAGE
Special Service District No. 4 Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)135
Homeless Prevention & Rapid Re-Housing Program
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)136
Township - Town Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual 137
Township - General Assistance Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual 138
Special Assessment Capital Projects Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual 139
DEBT SERVICE FUNDS
All Funds
Combining Schedule of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual (Budgetary Basis)140
PROPRIETARY FUND TYPES
WATER FUND
Schedule of Net Assets 143
Schedule of Changes in Net Assets - Reserved - Restricted Accounts 144
Operation and Maintenance Account - Schedule of Revenues, Expenses,
and Changes in Unreserved Net Assets - Budget and Actual 145
Operation and Maintenance Account - Schedule of Operating Revenues
Budget and Actual 146
INTERNAL SERVICE FUNDS
All Funds
Combining Statement of Net Assets 148
Combining Statement of Revenues, Expenses, and
Changes in Net Assets 149
Combining Statement of Cash Flows 150
COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES (Continued)
iii
CITY OF EVANSTON, ILLINOIS
Table of Contents
PAGE
154
155
156
157
Equalized Assessed Value and Actual Value of Taxable Property 158
Principal Property Taxpayers 159
Property Tax Levies and Collections (City) - Last Ten Levy Years 160
Ratio of General Bonded Debt Outstanding 161
Ratio of Outstanding Debt by Type 162
Direct and Overlapping Governmental Activities 163
Pledged - Revenue Coverage 164
Demographic and Economic Statistics - Last Ten Years 165
Principal Employers 166
Full-Time Equivalent City Government Employees by Function 167
Property Tax Rates per $100 - Direct and Overlapping Governments 168
Water Sold by Type of Customer (in 100 cubic feet)169
Water Sold by Major Customers 170
Operating Indicators by Function/Program 171
Capital Assets Statistics by Function 172
Independent Accountants' Report on Compliance - Tax Increment Financing Districts 174
Fund Balances - Governmental Funds
TAX INCREMENT FINANCING DISTRICT REQUIREMENTS
Changes in Fund Balances - Governmental Funds
STATISTICAL SECTION (UNAUDITED)
Net Assets by Component
Changes in Net Assets
iv
INTRODUCTORY SECTION
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CITY OF EVANSTON, ILLINOIS
Principal Officials
December 31, 2011
LEGISLATIVE
CITY COUNCIL
EXECUTIVE
ADMINISTRATIVE SERVICES DEPARTMENT
FINANCE DIVISION
Martin Lyons, Assistant City Manager / Treasure
Louis Gergits, Interim Finance Division Manager
Hitesh Desai, Accounting Manager
Wally Bobkiewicz, City Manager
Martin Lyons, Assistant City Manager / Treasurer
Elizabeth B. Tisdahl, Mayor
Judy Fiske Delores A. Holmes
Peter Braithwaite Mark Tendam
Melissa A. Wynne Jane Grover
Donald N. Wilson Ann Rainey
Coleen Burrus
COMMUNITY AND
ECONOMIC DEVELOPMENT HEALTH
CITY OF EVANSTON
ORGANIZATION CHART
RESIDENTS
MAYOR
ADVISORY BOARDS
AND COMMISSIONS CITY CLERK
FIRE POLICE
UTILITIES PARKS, RECREATION &
COMMUNITY SERVICES
CITY MANAGER
ADMINISTRATIVE
SERVICES PUBLIC WORKS
LAW LIBRARY
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City Manager's Office
2100 Ridge Avenue
Evanston,Illinois 60201-2798
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TTY 847.448.8064
www.cityofevanston.org
~.~
City ofEvanston~
June 26,2012
The Honorable Mayor Elizabeth B.Tisdahl,
Members of the City Council
City of Evanston,Illinois
INTRODUCTION
The Comprehensive Annual Financial Report (CAFR)of the City of Evanston (City)
for the ten month ended December 31,2011 is hereby submitted.The CAFR is
prepared by the City's Administrative Services Department in accordance with the
financial reporting principles and standards set forth by the Governmental Accounting
Standards Board (GASB).Responsibility for both the accuracy of the data and the
completeness and fairness of the presentation,including all disclosures,rests with
the City.We believe the enclosed data is accurate in all material respects and is
reported in a manner designed to present fairly the financial position and results of
operations of the various funds and capital assets of the City.All disclosures needed
to enable the reader to understand the City's financial activities have been included.
This report consists of management's representations concerning the finances of the
City of Evanston for the period of March 1,2011 to December 31,2011.
Management assumes full responsibility for the completeness and reliability of all of
the information presented in this report.To provide a reasonable basis for making
these representations,management of the City has established a comprehensive
internal control framework that is designed to both protect the government's assets
from loss,theft,or misuse and to compile sufficient reliable information for the
preparation of the City of Evanston's financial statements in conformity with generally
accepted accounting principles (GAAP)within the United States of America.
Because the cost of internal controls should not outweigh their benefits,the City's
comprehensive framework of internal controls has been designed to provide
reasonable rather than absolute assurance that the financial statements will be free
from material misstatement.As management,we assert that to the best of our
knowledge and belief,this financial report is complete and reliable in all material
respects.
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The City is required to undergo an annual single audit in conformity with the
provisions of the Single Audit Act of 1984 as amended and U.S.Office of
Management and Budget Circular A-133,Audits of States,Local Governments,and
Non-Profit Organizations.Information related to this single audit,including the
schedule of federal financial assistance,findings and recommendations,and
auditors'reports on the internal control structure and compliance with applicable laws
and regulations,is to be presented in a separate single audit report.
This report includes all the funds and capital assets of the City and its component
unit,Evanston Township.The Evanston Township Board of Trustees has the same
members as the City Council.The financial statements of Evanston Township are
included in the reporting entity.Although the Township is a legally separate entity,it
is considered a component unit:therefore,data from the Township is blended with
data of the City.
The City's financial statements have been audited by Baker Tilly Virchow Krause,
LLP,a firm of licensed certified public accountants.The goal of the independent
audit is to provide reasonable assurance that the financial statements of the City of
Evanston for the ten month ended December 31,2011,are free of material
misstatement.The independent audit involved examining,on a test basis,evidence
supporting the amounts and disclosures in the financial statements,assessing the
accounting principles used and significant estimates by management,and evaluating
the overall financial statement presentation.The independent auditors concluded,
based upon the audit,that there was a reasonable basis for rendering an unqualified
opinion that the City's financial statements for the ten month ended December 31,
2011,are fairly presented in conformity with GAAP.The independent auditors'report
is presented as the first component of the financial section of this report.
GAAP requires that management provide a narrative introduction,overview,and
analysis to accompany the basic financial statements in the form of Management's
Discussion and Analysis (MD&A).This letter of transmittal is designed to
complement the MD&A and should be read in conjunction with it.The City's MD&A
can be found immediately following the report of the independent auditors.
PROFILE OF THE CITY OF EVANSTON
The City:The City of Evanston constitutes many communities,perspectives,and
qualities:it is a suburb,an urban center,a university town,and lake-front community;
it has leafy neighborhoods and lake-front mansions;it has apartment,condominium,
and student housing;its residents are commuters and locally employed workers;its
downtown is prospering,and neighborhood commercial centers are also strong and
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developing.It is a part of the Chicago land economy and has a vigorous commercial
and professional economy of its own.A population of approximately 75,000 is
diverse by race,religion,age,education,economics,and occupation.With 8,700
people per square mile,Evanston has double the population density of the average
North and Northwest suburb,and approximately half the density of Chicago.The
City has over 260 acres in 75 parks and 5 beaches.
Evanston is contiguous with Chicago,and only 13 miles by rapid transit,commuter
rail,expressway,or parkway from downtown Chicago.It borders the north shore
communities of Skokie and Wilmette.
In 1863,the Village of Evanston was incorporated as a town and,after several
annexations,in 1892,the town became a city.The City's southern boundary was
established with the City of Chicago and the present City limits,encompassing an
area of approximately eight square miles,have been essentially the same ever since.
The City has four miles of shoreline along Lake Michigan.
Evanston is the home of Northwestern University,so named as it was established to
serve the Northwest Territory.The University first platted the village which
surrounded it.The State Legislature named the Village "Evanston"in honor of Dr.
John Evans,the then president of the University's Board.The continued vitality of
the University and the cooperative relationship between the City and University adds
to the total Evanston community.
The Government:The City is a home rule municipality under the Illinois
Constitution.As such,it has no tax rate or debt limits,nor is it required to conduct a
referendum to authorize the increase of debt or the imposition of real estate property
taxes.
The City has a Council/Manager form of government with an elected Mayor.The
Mayor is elected for a four-year term.The Aldermen each represent one of nine
wards and are elected to terms of four years.The City Council is organized into four
standing committees:Administration and Public Works,Human Services,Planning
and Development,and Rules.The City Council has also established several special
committees,commissions and advisory boards.
The City Manager is the Chief Executive Officer of the City and is responsible for the
management of all City operations under the direction of the City Council.The City
Manager appoints and supervises the directors of the City's ten departments.The
Assistant City Manager acts as Chief Financial Officer and is responsible for the
central financial and administrative functions of the City.
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The City provides a broad range of municipal services,including police and fire
protection,streets and parking,water and sewer service,public libraries,health
services,lakefront beaches, parks and recreation activities,cultural events,and
community and economic development activities.
Schools are provided by separate school districts which are governed by elected
school boards.A portion of the City is served by the Skokie Park District.
Wastewater treatment is provided by the Metropolitan Water Reclamation District.
Budget Process:The City's 2011 ten month fiscal period began on March 1,2011.
During the previous 2010-11 fiscal year,the City Council passed an ordinance
changing the fiscal year to a calendar year effective on period ending December 31,
2011.This resulted in a 10 months fiscal period from March 1,2011 to December 31,
2011.The subsequent fiscal year is a full 12 calendar months cycle from January 1,
2012 to December 31,2012.
Because of the change in fiscal year,the City Manager submitted to the City Council
a proposed operating budget in October for the fiscal year 2012 commencing the
following January 1.The operating budget includes proposed expenditures and the
means of financing those expenditures.Evanston has been a leader in community
engagement and implemented "Engage Evanston"in 2011,a process to involve the
Evanston Community in the entire budget process.The City Council also holds a
public hearing and additional public meetings as a part of the budget review and
planning process.The City staff will start a budget process for fiscal year 2013 in July
2012.The Council is expected to adopt the budget by November,2012.
The City Manager is authorized to transfer budgeted amounts between departments
within any fund (such as the General Fund).However,any revisions that alter the
total expenditures of any fund must be approved by the City Council.
Budgets are legally adopted on a basis consistent with accounting principles
generally accepted in the United States of America.For purposes of preparing the
General Fund schedule of revenues (budget and actual),GAAP revenue and
expenditures have been adjusted to the budgetary basis.The budgets of the
governmental type funds are prepared on a cash basis.The Comprehensive Annual
Financial Report of the City (CAFR)presents expenditures and revenues on both a
GAAP basis and a budgetary basis for comparison.
The City uses funds to report on its financial position and the results of its operations.
Fund accounting is designated to demonstrate legal compliance and to aid financial
management by segregating transactions related to certain City functions or
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activities.Each fund is a separate self-balancing accounting entity.In the City,there
are three categories of funds:governmental,proprietary and fiduciary.Governmental
funds are used to account for all or most of the City's general activities,including the
collection and disbursement of earmarked monies (special revenue funds),the
acquisition or construction of capital assets (capital project funds),and the servicing
of general long-term debt (debt service funds).The General Fund is used to account
for all activities of the City not accounted for in other funds.In the fiscal year 2012,
the City projects that 33.1 %($82.7 million-including transfers)of all City expenditures
will occur in the General Fund.Other major funds include the Capital Improvement,
Employer Pension Contribution,General Obligation Debt,Parking,Water,and
Sewer Funds.
The Enterprise Funds (Water,Parking,Solid Waste Fund and Sewer)are operated
and budgeted on a full accrual basis.Expenditures are recognized when a
commitment is made,and revenues are recognized when they are obligated to the
City (for example,water user fees are recognized as revenue when bills are
produced).
Financial Control Procedures:The City reports financial results based on
generally accepted accounting principles as promulgated by the GASB.The
accounts of the City are divided into separate self-balancing funds comprised of its
assets,liabilities,fund equity,revenues,and expenditures,as appropriate.
The City's expenditures are monitored on a regular basis by the Administrative
Services Department.Disbursements are made only if expenditures are within the
authorized budget.
MAJOR INITIATIVES -FISCAL YEAR 2012
The City Manager's Office will:Coordinate the CTA Purple Line Viaduct Project,
increase public outreach via social media,increase collaboration with community
partners,expand non-tax revenue base supporting City programs and analyze 311
data to identify and implement service efficiency.
The Law Department will:Continue to provide legal support to all City departments
including but not limited to the preparation of ordinances,resolutions and agreements
and contracts as needed to effectively operate the City.The department will continue
representation of City in EEOC and Department of Human Rights complaints,
undertake new roles regarding representation and negotiations of labor contracts,
analyze and evaluate new risk management strategies for City departments and
update liquor regulations and noise regulations.
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Evanston,Illinois 60201-2798
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The Administrative Services Department will:Implement a new Financial Software
System to reduce operating cost and improve efficiencies,expand the use of
computer virtualization,explore opportunities for cloud computing,update non-union
job descriptions,conduct internal OSHA Audit,continue to focus on reducing
unemployment costs and enhance revenue collections using the services of a full
time contractual Collections Coordinator.
The Community and Economic Development Department will:Continue promoting
economic development,neighborhood revitalization and affordable housing.The
department will continue to have a special emphasis on the down payment
assistance program,the single family rehab program and acquisition and rehab of
foreclosed properties as part of housing activity.The department will also continue
the implementation of the PAL System which includes online permit status look up
and inspection scheduling
The Police Department will:Continue to purchase new cameras and related
equipment for use within the Evanston community.The department will purchase the
field reporting program through HTE System to enable incident reporting via laptop
computers.The Police department plays a central role in the continued success of
311 Center.
The Fire Department will:Conduct a Shift Chief and a Fire Captain promotional
exam;coordinate emergency management for all City locations;provide advanced
Cardiac Life Support training to all paramedics,revise and submit City's Emergency
Operations Plan for certification,offer CPR classes to citizens,enhance and augment
internal wellness program and continue to spearhead the continuity of city business
operations planning.
The Health Department will:Address the needs of medically underserved in
Evanston;host an annual health summit;expand Women Out Walking Program;
develop and administer program addressing childhood obesity problem;undergo the
2011-16 recertification process to remain a certified local health department;
conduct a community wide health needs assessment;establish a dental consortium
to assure oral health in Evanston and develop a collaborative program to facilitate
change in Evanston corner stores for availability of healthy foods.
The Public Works Department will:Complete construction of a Service Center locker
room;develop a five year street maintenance plan that complements the five year
resurfacing plan;complete construction of a new salt dome;complete CTA Yellow
Line feasibility study;complete CTA Purple Line viaduct replacement;explore shared
work/operations across jurisdiction;upgrade and coordinate Sheridan Road Corridor
traffic signals;design easUwest recreational bike paths;continue citywide davit arm
luminaire street light replacement and expand City Works management program to
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2100 Ridge Avenue
Evanston,Illinois 60201-2798
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cover street signs,street lights and traffic signals maintenance function to improve
employee and fiscal accountability.
The City of Evanston created the separate Library Fund as part of the FY 2012
Budget process.All FY 2012 revenues and expenditures associated with Library
operations have been budgeted within the newly created Library Fund.The Evanston
Public Library promotes the development of independent,self-confident,and literate
citizens through the provision of open access to cultural,intellectual,and
informational resources for all ages.
The Library Department will:Continue to work with City Council members,the City
Manager and Library Director to complete the transition to a new operational model;
increase circulation through improved collection development;expand library
services and resources throughout the community;engage citizens to identify
demographics and service areas of specialization and complete a roof and masonry
assessment of the Main Library.
The Parks,Recreation and Community Services will:Develop e-newsletters for
Fleetwood-Jourdain Center;promote online program registrations;develop a
comprehensive after school program for middle school children;implement RecTrac
facility scheduling software for Levy Center;expand the Golf program;recruit more
volunteers to support senior services;continue to participate in state-sponsored
programs;restructure the summer Special Recreation offerings;expand the number
of opportunities available to youth for Youth Employment Program;continue the
three year cycle of elm injections;identify additional funding sources to increase the
number of trees being planted on City parkways;assist Evanston artists and arts
organizations in fostering collaboration;use the building automation systems that are
in place and improve energy management techniques throughout the year to reduce
energy consumption.
FACTORS AFFECTING FINANCIAL CONDITION
The following are factors which give a broader context to the financial information
contained in this CAFR report.
Local Economy:The global economy showed signs of very moderate recovery in
some of the sectors which trickled down to local economy in terms of some of the
major revenues being little higher or flat while others were modestly lower in the 2011
fiscal period.Since the period for this report is 10 months as opposed to a traditional
12 months period,variance reporting shows significant changes in the income
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Evanston,Illinois 60201-2798
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statement compared to prior year.The change in fiscal period from February end to
December end has also contributed to the variations in some City revenues.Because
not all revenues are received on even monthly increments,the change in the fiscal
period end made revenue projections more difficult in 2011.Added to this change
was the uncertainty of schedules for revenue distribution from both the State of
Illinois and Cook County.Accordingly,City Property Tax,Utility Tax,Parking Fines
and Building Permit revenues were below the budget amount.Some of the
economically sensitive revenues such as Sales Tax,Use Tax,Income Tax and Real
Estate Transfer Tax revenues were higher than budgeted revenues.The City's
FY2012 budget for the full 12 months reflects these economic trends and the City
reduced the overall General Fund expenditure budget by almost 7%compared to the
prorated number for the 10 month previous fiscal period to match the pace of slow
economic recovery.
Risk Management:Last year,the city hired a new third-party administrator for its
liability and workers'compensation claims.Based on favorable insurance experience
and rates,the City reduced certain deductibles to provide more stable coverage
during the current economy.Additionally,more staff and resources are being
dedicated to internal risk management and formal safety training programs are being
implemented for those employees most prone to injury due to the nature of their
work.
Pension and Other Post Retirement Benefits:The City sponsors a single
employer defined benefit pension plan for both its police and firefighters.Each year
an independent actuary engaged by the City calculates the amount of the annual
contribution that the City must make to the pension plan to ensure that the plan will
be able to fully meet its obligations to retired employees on a timely basis.The city
has used actuarial valuation numbers from the recently engaged actuary for both
pension funds in the current Audit report.The City and Police and Firefighter Pension
Boards jointly recommend each year's funding level using the annual actuarial
analysis.
The City also provides pension benefits for its non-public safety employees.The
benefits are provided through a state-wide plan managed by the Illinois Municipal
Retirement Plan (IMRF).The City funding contribution rate changes each year based
on investment returns and the annual City contribution rate changes annually as
determined by the Plan.
The City provides a deferred compensation plan (Section 457 Plan)for its
employees.This is administered by Nationwide Retirement Solutions for Fire
employees and by ICMA-RC (International City/County Management Association
Retirement Corporation)for all other employees.The employees contribute on a tax
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deferred basis a fixed dollar amount or percentage of their salary.Besides this,a
PEHP (Post Employment Health Plan)is also available to Fire and Police employees.
Fire employees contribute a fixed dollar amount and/or sick time while Police
employees contribute a fixed dollar amount,compensatory time and/or sick time.
AWARDS AND ACKNOWLEDGMENTS
The Government Finance Officers Association (GFOA)awarded a Certificate of
Achievement for Excellence in Financial Reporting to the City for its comprehensive
annual financial report for the fiscal year ended February 28,2011.In order to be
awarded a Certificate of Achievement,the government published an easily readable
and efficiently organized comprehensive annual financial report.This report satisfied
both generally accepted accounting principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only.We believe that
our current comprehensive annual financial report continues to meet the Certificate of
Achievement Program's requirements and we are submitting it to the GFOA to
determine its eligibility for another certificate.
In addition,the City also received the GFOA's Award for Distinguished Budget
Presentation for its annual March 1,2011 budget.In order to qualify for the
Distinguished Budget Presentation Award,the government's budget document was
judged to be proficient in several categories,including policy documentation,financial
planning,and organization.
We acknowledge the contributions and excellent work of Hitesh Desai,Accounting
Manager,and accountants Raye Janousek,Rom Chmara and Andy Villamin in
preparing the financial statements.Appreciation is also extended to all other
Administrative Services Department and City Staff who contributed to the preparation
of this report.We also express gratitude to the Mayor's Office and Members of City
Council for their interest and support in planning and conducting the City's financial
affairs.
Respectfully submitted,
VJ'~~zrwall~wiCZ
City Manager
~Martin Lyons
Assistant City ManagerlTreasurer
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FINANCIAL SECTION
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INDEPENDENT AUDITORS' REPORT
ON THE FINANCIAL STATEMENTS
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-18-
(Unaudited)
REPORTING THE CITY AS A WHOLE
Government-wide Financial Statements
The City's annual report includes two government-wide financial statements. These statements provide
both short-term and long-term information about the City's overall status. Financial reporting at this level
uses a perspective similar to that found in the private sector with its basis in full accrual accounting and
elimination or reclassification of internal activities.
The first of these government-wide statements is the Statement of Net Assets. This is the City-wide
statement of financial position presenting information that includes all the City's assets and liabilities,
with the difference reported as net assets. Over time, increases or decreases in net assets may serve as a
useful indicator of whether the financial position of the City as a whole is improving or deteriorating.
Evaluation of the overall health of the City would extend to other non-financial factors such as
diversification of the taxpayer base or the condition of City infrastructure in addition to the financial
information provided in this report.
The second government-wide statement is the Statement of Activities which reports how the City's net
assets changed during the current fiscal period. All current period revenues and expenses are included
regardless of when the cash was received or paid. An important purpose of the design of the statement of
activities is to show the financial reliance of the City's distinct activities or functions on revenues
provided by the City's taxpayers.
Both government-wide financial statements distinguish governmental activities of the City that are
principally supported by taxes and intergovernmental revenues, such as grants, from business-type
activities that are intended to recover all or a significant portion of their costs through user fees and
charges. Governmental activities include general government, public safety, public service, fleet service,
insurance fund, and culture and recreation. Business-type activities include water and sewer utilities,
parking, and garages. Fiduciary activities, such as employee pension plans and agency funds, are not
included in the government-wide statements since these assets are not available to fund City programs.
The government-wide financial statements are presented on pages 27 – 30 of this report.
REPORTING THE CITY'S MOST SIGNIFICANT FUNDS
Fund Financial Statements
A fund is an accountability unit used to maintain control over resources segregated for specific activities
or objectives. The City uses funds to ensure and demonstrate compliance with finance-related laws and
regulations. Within the basic financial statements, fund financial statements focus on the City's most
significant funds, rather than the City as a whole. Major funds are separately reported, while all others
are combined into a single aggregated presentation. Individual fund data for non-major funds is provided
in the form of combining schedules in a later section of this report.
The City has three kinds of funds:
Governmental funds are reported in the fund financial statements and encompass essentially the same
functions reported as governmental activities in the government-wide financial statements. However, the
focus is very different with fund statements providing a distinctive view of the City's governmental funds.
These statements report short-term fiscal accountability focusing on the use of spendable resources and
balances of spendable resources available at the end of the period. They are useful in evaluating annual
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(Unaudited)
financing requirements of governmental programs and the commitment of spendable resources for the
near-term.
Since the government-wide focus includes the long-term view, comparisons between these two
perspectives may provide insight into the long-term impact of the short-term financing decision. Both the
governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and
changes in fund balances provide a reconciliation to assist in understanding the differences between these
two perspectives.
Budgetary comparison statement for General Fund is included in the required supplementary section of
this report. Budgetary comparison schedules for various special revenue funds and the debt service funds
can be found in the supplementary information section of this report. These statements and schedules
demonstrate compliance with the City's adopted and final revised budget.
The basic government fund financial statements are presented on pages 31 -32 of this report.
Proprietary funds reported in the fund financial statements generally report services for which the City
charges customers a fee. There are two kinds of proprietary funds. These are enterprise funds and
internal service funds. Enterprise funds essentially encompass the same functions reported as business-
type activities in the government-wide statements. Services such as the water utilities and the parking
garages are provided to customers external to the City organization. Internal service funds provide
services and charge fees to customers within the City organization, such as equipment services (repair and
maintenance of city vehicles) and the insurance fund. Because the City's internal service funds primarily
serve governmental functions, they are included within the governmental activities of the government-
wide financial statements.
Proprietary fund statements and statements for discretely presented component units (reporting is similar
to proprietary funds) provide both short-term and long-term financial information consistent with the
focus provided by the government-wide financial statements but with more detail for the water fund and
the Township. Individual fund information for internal service funds is found in combining schedules in a
later section of this report.
The basic proprietary fund financial statements are presented on pages 34 - 38 of this report.
Fiduciary funds such as the Police and Firefighter's pension plans are reported in the fiduciary fund
financial statements, but are excluded from the government-wide reporting. Fiduciary fund financial
statements report resources that are not available to fund City programs. These financial statements
report similarly to proprietary funds.
The basic fiduciary fund financial statements are presented on pages 39 - 40 of this report.
Notes to the financial statements
The accompanying notes to financial statements provide information essential to a full understanding of
the government-wide and fund financial statements. The notes to the financial statements begin on page
41 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 City's progress in funding its obligations to provide
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pension benefits to its employees. Other supplementary information includes detail by fund and
component unit for receivables, payables, transfers, and payments within the reporting entity. Required
supplementary information can be found on pages 98 - 102 of this report.
Major funds and component units are reported in the basic financial statements, as discussed. Combining
statements, individual statements and schedules for non- major and internal service funds are presented in
a subsequent section of this report beginning on page 106. Additional information on capital assets and
long-term debt can be found on page 63 and 73 respectively.
Financial Analysis of the City as a Whole
The City's combined net assets increased by $2,694,435 from $304,668,761 to $307,363,196.
STATEMENT OF NET ASSETS
Governmental Activities Business-type Activities Total Primary Government
2011 2010-11 2011 2010-11 2011 2010-11
Current and Other Assets 124,910,803$ 114,729,694$31,732,736$ 28,480,227$ 156,643,539$ 143,209,921$
Capital Assets 169,738,549 164,394,767 331,612,417 328,457,846 501,350,966 492,852,613
Total Assets 294,649,352 279,124,461 363,345,153 356,938,073 657,994,505 636,062,534
Long-Term Liabilities 169,788,442 160,885,656 117,743,309 126,384,704 287,531,751 287,270,360
Other Liabilities 59,671,619 41,496,813 3,427,939 2,626,600 63,099,558 44,123,413
Total Liabilities 229,460,061 202,382,469 121,171,248 129,011,304 350,631,309 331,393,773
Net Assets
Investment in Capital
assets, net of Debt 57,662,625 49,483,230 215,754,541 207,161,600 273,417,166 256,644,830
Restricted 31,559,331 23,186,893 1,034,375 1,624,016 32,593,706 24,810,909
Unrestricted (24,032,665) 4,071,869 25,384,989 19,141,153 1,352,324 23,213,022
Total Net Assets 65,189,291$ 76,741,992$ 242,173,905$227,926,769$307,363,196$ 304,668,761$
The City's total revenues decreased by $33,240,426 or 19.7%. The City's total expenses for all programs
decreased by $20,230,562, or 13.2%. The reductions in revenues and expenses are primarily because of a
ten month period compared to a twelve month prior year. Governmental activity revenues decreased by
$31,689,730 in the current fiscal period. Again, this is mainly due to a ten month period resulting in
reduction of major revenues like Property Tax, Sales Tax, Income Tax, Grants, Permits and Licenses.
Net expenses in the governmental activities decreased from $127,504,455 to $107,673,076 and overall
revenues decreased from $169,130,651to $135,890,225 compared to previous fiscal year mainly due to
the shortened fiscal period.
Governmental Funds: The governmental activities experienced a net assets balance decrease of
$11,552,701. This was primarily due to a shortened fiscal period resulting in reduction of major revenues
and expenses. Additionally, reductions in revenues were much higher than those in expenses resulting in
a net decrease. This can be attributed to the seasonal nature of some of the major revenues and expenses
including contractual payments.
Business Funds: The business-type activities fund balance experienced an increase in net assets of
$14,247,136, primarily due to the surplus in the Sewer Fund. The surplus was mainly derived from the
transfer from government activities in the approximate amount of $8 million.
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(Unaudited)
The following table provides a summary of the City's changes in net assets:
STATEMENT OF CHANGES IN NET ASSETS
Governmental Activities Business-type Activities Total Primary Government
2011 2010-11 2011 2010-11 2011 2010-11
Revenue
Program Revenues:
Charges for services 22,328,862$ 27,437,741$ 31,573,817$ 33,118,200$ 53,902,679$ 60,555,941$
Operating grants and
contributions 9,861,000 9,851,363 - - 9,861,000 9,851,363
Capital grants and
contributions 3,940,785 8,026,115 - - 3,940,785 8,026,115
General Revenues:
Sales taxes 13,494,930 15,577,087 - - 13,494,930 15,577,087
Property taxes 33,399,439 47,039,986 - - 33,399,439 47,039,986
Utility taxes 6,375,788 7,872,181 - - 6,375,788 7,872,181
Other taxes 14,867,886 19,628,769 - - 14,867,886 19,628,769
Investment income 31,615 556,793 16,103 22,416 47,718 579,209
Total Revenue 104,300,305 135,990,035 31,589,920 33,140,616 135,890,225 169,130,651
Expenses
General management and
support 17,911,466 17,517,168 - - 17,911,466 17,517,168
Public safety 43,464,481 53,226,114 - - 43,464,481 53,226,114
Public works 12,399,465 15,625,868 - - 12,399,465 15,625,868
Health and human
resources development 3,546,727 4,540,954 - - 3,546,727 4,540,954
Recreation and cultural
opportunities 15,606,639 20,142,331 - - 15,606,639 20,142,331
Housing and economic
development 11,630,331 10,857,192 - - 11,630,331 10,857,192
Interest 3,113,967 5,594,828 - - 3,113,967 5,594,828
Water - - 7,449,467 8,712,801 7,449,467 8,712,801
Sewer - - 7,083,350 8,784,230 7,083,350 8,784,230
Solid Waste - - 4,316,692 - 4,316,692 -
Motor vehicle parking
system - - 6,673,205 8,424,866 6,673,205 8,424,866
Total Expense 107,673,076 127,504,455 25,522,714 25,921,897 133,195,790 153,426,352
Increase in net assets
before transfers (3,372,771) 8,485,580 6,067,206 7,218,719 2,694,435 15,704,299
Transfers (8,179,930) (99,096) 8,179,930 99,096 - -
Increase/(Decrease) in
Net Assets (11,552,701) 8,386,484 14,247,136 7,317,815 2,694,435 15,704,299
Net Assets - Beginning 76,741,992 68,355,508 227,926,769 220,608,954 304,668,761 288,964,462
Net Assets - Ending 65,189,291$ 76,741,992$ 242,173,905$ 227,926,769$ 307,363,196$ 304,668,761$
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(Unaudited)
Financial Analysis of the City's Funds
Governmental Funds
As discussed, governmental funds are reported in the fund statement with a short-term inflow and outflow
of spendable resources focus. This information is useful in assessing resources available at the end of the
period in comparison with upcoming financing requirements. Governmental funds reported fund balances
of $62,870,200 as of December 31, 2011 which includes $32,353,524 restricted, $1,419,463 non-
spendable, $805,575 committed, $17,663,815 assigned and $10,627,823 unassigned fund balance. The
restricted fund balance consists of amounts required to be set aside by external authorities. Non-spendable
amount represents prepaid items for General Obligation Debt and Special Service District Number 5.
Major Governmental Funds
The General Fund is the City's primary operating fund and the largest source of day-to-day service
delivery. The fund balance of the General Fund decreased by $3,610,583 primarily due to the reporting of
substantially lower amount of Property Tax revenues because of the change in fiscal period. Excess of
expenditures over revenues in the amount of $7,727,348 was partially offset by inter-fund transfers to the
General Fund. Some of the major revenues that came in above budget included the Sales Tax, Use Tax,
Athletic Contest Tax, Real Estate Transfer Tax, Liquor Tax, Parking Tax and Vehicle License Fees.
Conversely, Utility Tax, Property Tax and Building Permit revenues were lower than budgeted. Most of
the departments spent less than their budget with the exception of Police and the City Clerk’s Office, with
the entire General Fund being below the 2011 Adopted Budget.
The Capital Improvements Fund accounts for the City's governmental funds capital improvement
program. The program includes improvements to public buildings, paving of city streets, improvement
and development of recreation facilities and other improvements. The fund balance of the Capital
Improvements Fund decreased by $158,684, from $5,905,344 to $5,746,660. For fiscal period 2011
funding for capital projects was roughly equal to total capital outlays and inter-fund transfers to other
funds in order to maintain a fund balance necessary to begin each capital construction season.
The fund balance of the General Obligation Debt Fund decreased by $2,680,044, from $5,309,064 to
$2,629,020. Reporting of lower Property Tax revenues because of the change in the fiscal period from
February to December resulted in a lower fund balance.
The Employer Pension Contribution Fund is used to account for the recognition of applicable tax
revenues and employer contributions to the Pension Trust Funds. These contributions represent the City's
pension expense for police and firefighters. This fund continues to be reported as a major fund with an
increase in assets and liabilities of $1,226,713 from the last fiscal year.
Combined Non-Major Governmental Funds
Combined non-major fund balances totaled $36,101,351, a decrease of $1,994,243 from prior year of
$38,095,594. Non-major funds with surpluses for the fiscal period include Motor Fuel, Neighborhood
Improvement, Home Fund, SSD#5, Howard Ridge TIF and West Evanston TIF. Non-major funds with
deficits for the period include the Economic Development, Emergency Telephone System, Library
Endowment, Affordable Housing, Community Development Loan, SSD#4, Township, Southwest TIF,
Howard Hartrey TIF, Washington National TIF and Special Assessment Capital Project Fund.
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(Unaudited)
Proprietary Funds
The proprietary fund statements share the same focus as the government-wide statements, reporting both
short-term and long-term information about financial status.
The proprietary funds operated by the City are the Water, Sewer, Solid Waste and Parking Funds. The
Water, Sewer and Solid Waste Funds have a combined increase of $12,562,012 in the net assets mainly
because of $8 million transfer from governmental activities to the Sewer Fund. The Parking Fund added
$1,685,124 to the net assets during the period primarily due to the reduced operating and interest
expenses. Although fund balances in these proprietary funds showed an overall healthy increase, it is
important to keep in mind that these funds carry a substantial debt level therefore, large debt payments
will be required in the future.
Internal Service Funds
The City's combined internal service fund’s net assets decreased by $940,892 from $2,774,857 as of
February 28, 2011 to $1,833,965 as of December 31, 2011. Fleet Fund reported an increase in net assets
of $246,383 primarily due to reduced operating expense. The net deficit in the Insurance Fund went up by
$1,187,275 due to a recording of potential claim liabilities.
General Fund Budgetary Highlights
Total budgetary revenues for the General Fund were $69,180,228 while total expenditures were
$70,952,076. Actual revenues in the General Fund came in slightly higher than budget by $100,491.
Total expenditures in the General Fund were lower than budgeted amounts by $2,244,426 mainly due to
continuous restructuring of departments and other cost saving measures in various operating divisions.
The actual net deficiency of $1,771,848 was offset by $4,116,765 in transfers from other funds.
Capital Assets
The City established a policy of capitalizing equipment and vehicles with $20,000 or more in value and
infrastructure and building improvements with $100,000 or more in value. The City's investment in
capital assets, net of accumulated depreciation, for governmental and business-type activities, as of
December 31, 2011, was $501,350,966. The governmental funds capital assets increased by $5,343,782
while business type capital assets increased by $3,154,571. Overall, capital assets increased by 1.7% for
the City as a whole. The Governmental Funds reported an increase in building improvement and
infrastructure assets including improvements in parks, streets and alleys. As for the Business Funds,
Water, Parking and Sewer all reported an increase in net capital assets. Readers desiring more detailed
information on capital asset activity should refer to Note 6 in the Notes to the Financial Statements.
Long-Term Debt
As of December 31, 2011, the City had total general obligation bonded debt outstanding of $157,695,000
of which $35,115,794 was for business type activities to be paid for by the City's Parking, Water, Solid
Waste and Sewer Funds. The City's general obligation debt service payments for 2011 totaled
$15,080,000 of which, $7,016,200 was abated. During the current period, the City issued $19,240,000 in
general obligation bonds. As a home rule government under Illinois law, there is no legal debt limit for
the City. Readers desiring more detailed information on long-term debt should refer to Note 9 in the
Notes to the Financial Statements.
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(Unaudited)
Bond Ratings
The City's general obligation bonds are rated AAA by Moody's Investor Rating Service and AAA by
Fitch Ratings. The City's water revenue bonds are rated Aa1 and AA for uninsured issues.
Economic Factors
Evanston is a diverse community consisting primarily of residential homes, several nonprofit
organizations including a very well-known private university, two hospitals, and many smaller scale retail
shops and restaurants as well as some popular big box retailers. In general, economically sensitive
revenues such as Sales Tax, Use Tax and Real Estate Transfer Tax came in a little higher than budgeted
revenues while Building permits were below budget.
The unemployment rate in Evanston has stayed slightly below same level as many other cities in the State
due in part to the stable economy that includes Northwestern University. The City continues to maintain
its lower unemployment rate compared to state and federal unemployment levels. The primary employers
in the City include Northwestern University, two hospitals, the local high school, and elementary school
district, Rotary International, several not-for-profit organizations, and numerous retail businesses and
restaurants. Due to the high number of nonprofit organizations which make a large portion of Evanston's
workforce, the City has been somewhat insulated from the economic downturn in employment areas.
Contacting the City's Financial Management
This financial report is designed to provide a general overview of the City's finances, comply with
finance-related laws and regulations, and demonstrate the City's commitment to public accountability. If
you have questions about this report or would like to request additional information, contact the City
Administrative Services Department at the City of Evanston, 2100 Ridge Avenue, Evanston, Illinois
60201 or access the website at www.cityofevanston.org.
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BASIC FINANCIAL STATEMENTS
-26-
CITY OF EVANSTON, ILLINOIS
Statement of Net Assets
Governmental Business-type
Activities Activities Total
Cash and equivalents 45,538,237$ 21,259,508$ 66,797,745$
Investments 2,594,797 - 2,594,797
Receivables (net, where applicable,
of allowances for uncollectibles)
Property taxes 53,053,786 - 53,053,786
Accounts - 4,281,368 4,281,368
Notes 6,104,245 - 6,104,245
Special assessments 737,084 - 737,084
Accrued interest 9,435 - 9,435
Other 3,094,057 54,922 3,148,979
Due from other governments 9,235,073 - 9,235,073
Internal balances 1,529,624 (1,529,624) -
Inventories 573,872 825,473 1,399,345
Restricted assets
Cash and equivalents and investments - 5,992,417 5,992,417
Prepaid items 1,993,211 599,672 2,592,883
Other assets 37,382 249,000 286,382
Property held for resale 410,000 - 410,000
Capital assets
Capital assets not being depreciated 25,635,320 7,676,037 33,311,357
Capital assets (net of accumulated
depreciation)144,103,229 323,936,380 468,039,609
Total Assets 294,649,352 363,345,153 657,994,505
December 31, 2011
Primary Government
The accompanying notes are an integral part of this statement.
-27-
Governmental Business-type
Activities Activities Total
Vouchers payable 5,664,057$ 2,622,007$ 8,286,064$
Accrued payroll 3,019,828 - 3,019,828
Interest payable 794,193 82,082 876,275
Other payables 354,377 6,000 360,377
Due to other governments 605,405 - 605,405
Due to pension funds 2,362,468 - 2,362,468
Payable from restricted assets
Vouchers payable - 204,266 204,266
Interest payable - 513,584 513,584
Unearned revenues 46,871,291 - 46,871,291
Noncurrent liabilities
Payable from restricted assets - due
within one year - 11,800,112 11,800,112
Due within one year 15,401,000 4,095,491 19,496,491
Due in more than one year 154,387,442 101,847,706 256,235,148
Total Liabilities 229,460,061 121,171,248 350,631,309
Investment in capital assets, net of related debt 57,662,625 215,754,541 273,417,166
Restricted
Highway maintenance 1,200,244 - 1,200,244
Emergency telephone system 1,310,758 - 1,310,758
Library projects 3,043,452 - 3,043,452
HUD approved projects 5,145,497 - 5,145,497
Neighborhood improvements 2,368,432 - 2,368,432
Economic Development 11,538,268 - 11,538,268
Debt service 5,116,832 634,375 5,751,207
Township 1,835,848 - 1,835,848
Capital project funds - 400,000 400,000
Unrestricted (24,032,665) 25,384,989 1,352,324
Total Net Assets 65,189,291$ 242,173,905$ 307,363,196$
Primary Government
-28-
CITY OF EVANSTON, ILLINOIS
Statement of Activities
Program Revenues
Operating
Charges for Grants and
Expenses Services Contributions
Functions/Programs
Governmental activities:
General management and support 17,911,466$ 9,218,649$ -$
Public safety 43,464,481 1,204,779 178,639
Public works 12,399,465 1,005,378 1,601,318
Health and human resource development 3,546,727 1,235,182 540,725
Recreation and cultural opportunities 15,606,639 4,587,118 -
Housing and economic development 11,630,331 5,077,756 7,540,318
Interest 3,113,967 - -
Total governmental activities 107,673,076 22,328,862 9,861,000
Business-type activities:
Water 7,449,467 12,368,533 -
Sewer 7,083,350 11,376,601 -
Solid Waste 4,316,692 2,900,172 -
Motor vehicle parking system 6,673,205 4,928,511 -
Total business-type activities 25,522,714 31,573,817 -
Total 133,195,790$ 53,902,679$ 9,861,000$
General revenues:
Property tax
Other taxes
Personal property replacement tax
Sales and home rule tax
Income tax
Utility tax
Miscellaneous
Investment income
Transfers
Total general revenues and transfers
Change in net assets
Net assets - beginning
Net assets - ending
For the Ten Months ended December 31, 2011
The accompanying notes are an integral part of this statement.
-29-
Net (Expense) Revenue and Changes in Net Assets
Capital
Grants and Governmental Business-type
Contributions Activities Activities Total
-$ (8,692,817)$ -$ (8,692,817)$
- (42,081,063) - (42,081,063)
3,921,893 (5,870,876) - (5,870,876)
- (1,770,820) - (1,770,820)
- (11,019,521) - (11,019,521)
18,892 1,006,635 - 1,006,635
- (3,113,967) - (3,113,967)
3,940,785 (71,542,429) - (71,542,429)
- - 4,919,066 4,919,066
- - 4,293,251 4,293,251
- - (1,416,520) (1,416,520)
- - (1,744,694) (1,744,694)
- - 6,051,103 6,051,103
3,940,785$ (71,542,429) 6,051,103 (65,491,326)
33,399,439 - 33,399,439
7,324,567 - 7,324,567
1,007,067 - 1,007,067
13,494,930 - 13,494,930
4,924,177 - 4,924,177
6,375,788 - 6,375,788
1,612,075 - 1,612,075
31,615 16,103 47,718
(8,179,930) 8,179,930 -
59,989,728 8,196,033 68,185,761
(11,552,701) 14,247,136 2,694,435
76,741,992 227,926,769 304,668,761
65,189,291$ 242,173,905$ 307,363,196$
-30-
CITY OF EVANSTON, ILLINOIS
Governmental Funds
Balance Sheet
General Employer Nonmajor Total
Capital Obligation Pension Governmental Governmental
General Improvements Debt Contribution Funds Funds
Cash and equivalents 11,523,030$ 6,216,757$ 295,715$ -$ 24,776,181$ 42,811,683$
Investments - - - - 2,594,797 2,594,797
Receivables
Property taxes (net of allowance) 16,641,472 - 12,078,641 14,573,987 9,759,686 53,053,786
Notes (net of allowance)- - - - 6,104,245 6,104,245
Special assessments - - - - 737,084 737,084
Accrued interest - - - - 9,435 9,435
Other 2,253,299 - - - 816,511 3,069,810
Property held for resale - - - - 410,000 410,000
Prepaid items - - 1,040,610 - 378,853 1,419,463
Due from other governments 7,400,692 302,480 - 141,520 1,390,381 9,235,073
Due from other funds 810,429 1,182,100 31,766 - 758,677 2,782,972
Other assets 37,382 - - - - 37,382
Total Assets 38,666,304$ 7,701,337$ 13,446,732$ 14,715,507$ 47,735,850$ 122,265,730$
Liabilities
Vouchers payable 1,720,394$ 1,352,754$ 251$ -$ 1,717,228$ 4,790,627$
Accrued payroll 3,019,828 - - - - 3,019,828
Compensated absences payable 60,117 - - - - 60,117
Other 354,377 - - - - 354,377
Due to other governments - 601,923 - - 3,482 605,405
Due to other funds 666,790 - 300,000 2,104,685 622,410 3,693,885
Deferred revenues 14,451,629 - 10,517,461 12,610,822 9,291,379 46,871,291
Total Liabilities 20,273,135 1,954,677 10,817,712 14,715,507 11,634,499 59,395,530
Fund Balances
Nonspendable - Prepaid items - - 1,040,610 - 378,853 1,419,463
Restricted
Highway maintenance - - - - 1,200,244 1,200,244
Emergency telephone system - - - - 1,310,758 1,310,758
Library projects - - - - 3,043,452 3,043,452
HUD approved projects - - - - 5,145,497 5,145,497
Neighborhood improvements - - - - 2,368,432 2,368,432
Economic Development - - - - 11,538,268 11,538,268
Debt service - - 1,588,410 - 4,322,615 5,911,025
Township - - - - 1,835,848 1,835,848
Committed - Economic Development - - - - 805,575 805,575
Assigned 7,590,232 5,746,660 - - 4,326,923 17,663,815
Unassigned 10,802,937 - - - (175,114) 10,627,823
Total Fund Balances 18,393,169 5,746,660 2,629,020 - 36,101,351 62,870,200
Total Liabilities and Fund Balances 38,666,304$ 7,701,337$ 13,446,732$ 14,715,507$ 47,735,850$
Amounts reported for governmental activities in the statement of net assets are different because:
Capital assets used in governmental activities are not financial resources and, therefore,
are not reported in the funds.163,419,424
Long-term liabilities, including bonds payable, compensated absences payable, and pension
contributions payable, are not due and payable in the current period and therefore, are not
reported in the governmental funds.(160,685,700)
OPEB liability payable is not due and payable in the current period and therefore, is not
reported in the governmental funds.(1,454,405)
Interest accrual from last interest payment (January 1, 2011) to December 31, 2011.(794,193)
The net assets of the internal service fund are included in the governmental activities in the
statement of net assets.1,833,965
Net assets of governmental activities 65,189,291$
December 31, 2011
Assets
Liabilities and Fund Balances
The accompanying notes are an integral part of this statement.
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CITY OF EVANSTON, ILLINOIS
Governmental Funds
Statement of Revenues, Expenditures, and Changes in Fund Balances
General Employer Nonmajor Total
Capital Obligation Pension Governmental Governmental
General Improvements Debt Contribution Funds Funds
Revenues
Taxes 30,242,619$ -$ 7,124,696$ 9,733,249$ 9,365,245$ 56,465,809$
Licenses and permits 6,775,866 - - - - 6,775,866
Special assessments - - - - 235,028 235,028
Intergovernmental 13,364,686 18,892 - - 9,799,200 23,182,778
Charges for services 6,283,196 - - - - 6,283,196
Fines and forfeits 3,279,785 - - - - 3,279,785
Investment income 2,073 17,546 1,637 - 391 21,647
Miscellaneous 3,276,503 744,333 - - 112,880 4,133,716
Total Revenues 63,224,728 780,771 7,126,333 9,733,249 19,512,744 100,377,825
Expenditures
Current
General management and support 11,774,893 166,886 17,528 - 1,634,753 13,594,060
Public safety 31,367,067 66,640 - 9,733,249 973,428 42,140,384
Public works 6,339,072 145,957 - - 1,089,070 7,574,099
Health and human resource development 2,887,812 - - - 700,000 3,587,812
Recreation and cultural opportunities 15,980,974 100,181 - - 111,000 16,192,155
Housing and economic development 2,462,258 - - - 9,536,129 11,998,387
Debt service
Principal 119,993 243,764 8,847,333 - 895,000 10,106,090
Interest 20,007 - 4,050,865 - 313,111 4,383,983
Fiscal agent fees - - 79,156 - - 79,156
Capital outlay - 5,091,436 - - 740,120 5,831,556
Total Expenditures 70,952,076 5,814,864 12,994,882 9,733,249 15,992,611 115,487,682
Excess (Deficiency) of Revenues
Over (Under) Expenditures (7,727,348) (5,034,093) (5,868,549) - 3,520,133 (15,109,857)
Other Financing Sources (Uses)
Transfers in 4,793,745 - 1,045,220 - - 5,838,965
Transfers out (676,980) (302,130) (8,099,352) - (5,514,376) (14,592,838)
Issuance of debt - 5,120,000 10,090,000 - - 15,210,000
Premiums and discounts - 57,539 152,637 - - 210,176
Total Other Financing Sources (Uses) 4,116,765 4,875,409 3,188,505 - (5,514,376) 6,666,303
Net Change in Fund Balances (3,610,583) (158,684) (2,680,044) - (1,994,243) (8,443,554)
Fund Balances -Beginning 22,003,752 5,905,344 5,309,064 - 38,095,594 71,313,754
Fund Balances - Ending 18,393,169$ 5,746,660$ 2,629,020$ -$ 36,101,351$ 62,870,200$
For the Ten Months ended December 31, 2011
The accompanying notes are an integral part of this statement.
-32-
CITY OF EVANSTON, ILLINOIS
Amounts reported for governmental activities in the statement of activities are different because:
Net change in fund balances - total governmental funds (8,443,554)$
4,343,052
Reclassification of G.O. debt Series 2010B 210,899
12,629,420
(15,420,176)
(4,185,464)
(85,593)
339,607
Internal service funds are reported separately in the fund financial statements.(940,892)
Change in net assets of governmental activities (11,552,701)$
The repayment of the principal of long-term debt payable consume the current financial resources of
governmental funds. These transactions, however, have no effect on net assets.
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.
Change in Interest accrual for the ten months ended December 31, 2011.
OPEB benefit expense reported in the statement of activities does not require the use of current
financial resources and, therefore, is not reported as expenditures in governmental funds.
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances
of Governmental Funds to the Statement of Activities
For the Ten Months ended December 31, 2011
Governmental funds report capital outlays as expenditures. However, in the statement of activities,
the cost of those assets is allocated over their estimated useful lives and reported as depreciation
expense. This is the amount by which capital outlays exceeded depreciation in the current period.
Gain or loss on assets removed are also reported in the statement of activities.
Issuance of Bonds provides current financial resources to governmental funds. This transaction has
no effect on net assets. Governmental funds also report the effect of bonds premiums, discounts and
similar items when debt is first issued.
The accompanying notes are an integral part of this statement.
-33-
CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Statement of Net Assets
Governmental
Activities-
Motor Vehicle Internal
Parking Service
Water Sewer Solid Waste System Total Funds
Current Assets
Cash and equivalents 8,510,923$ -$ 72,266$ 12,676,319$ 21,259,508$ 2,726,554$
Restricted cash and equivalents
and investments 1,034,375 4,958,042 - - 5,992,417 -
Receivables
Accounts - billed 699,514 242,739 92,170 - 1,034,423 -
Accounts - unbilled 831,869 2,016,915 398,161 - 3,246,945 -
Other - - - 54,922 54,922 24,247
Due from other funds - 1,151,945 - 4,000,000 5,151,945 115,706
Inventories 699,003 126,470 - - 825,473 573,872
Prepaid Expenses 599,672 - - - 599,672 573,748
Total Current Assets 12,375,356 8,496,111 562,597 16,731,241 38,165,305 4,014,127
Noncurrent Assets
Capital Assets
Capital assets not being depreciated 4,573,764 - - 3,102,273 7,676,037 -
Capital assets being depreciated 78,369,991 243,834,896 - 81,980,021 404,184,908 21,486,259
Less accumulated depreciation (21,794,125) (40,923,838) - (17,530,565) (80,248,528) (15,167,134)
Total Capital Assets 61,149,630 202,911,058 - 67,551,729 331,612,417 6,319,125
Other Assets
Notes Receivable - - - 249,000 249,000 -
Total Noncurrent Assets 61,149,630 202,911,058 - 67,800,729 331,861,417 6,319,125
Total Assets 73,524,986 211,407,169 562,597 84,531,970 370,026,722 10,333,252
December 31, 2011
Business-type Activities- Enterprise Funds
Assets
The accompanying notes are an integral part of this statement.
-34-
Governmental
Activities-
Motor Vehicle Internal
Parking Service
Water Sewer Solid Waste System Total Funds
Current Liabilities
Vouchers payable 1,024,033$ 216,835$ 370,249$ 1,010,890$ 2,622,007$ 873,430$
Vouchers payable - restricted 204,266 - - - 204,266 -
Interest payable - - 274 81,808 82,082 -
Interest payable - restricted 41,216 472,368 - - 513,584 -
Revenue bonds payable 575,000 - - - 575,000 -
Compensated absences payable 268,007 60,944 32,954 53,258 415,163 21,524
General obligation bonds payable 169,534 - 14,259 2,921,536 3,105,329 -
General obligation bonds payable - restricted - 3,094,209 - - 3,094,209 -
Claims payable - - - - - 2,106,361
Notes payable - IEPA - restricted 67,505 8,638,398 - - 8,705,903 -
Due to other funds 132,078 4,057,827 1,512,669 978,995 6,681,569 37,637
Other Payable 6,000 - - - 6,000 -
Total Current Liabilities 2,487,639 16,540,581 1,930,405 5,046,487 26,005,112 3,038,952
Long-Term Liabilities
Notes payable - IEPA 1,215,087 69,160,282 - - 70,375,369 -
General obligation bonds payable 3,839,604 5,156,693 127,458 19,792,501 28,916,256 -
OPEB liability payable 106,498 31,141 5,626 31,272 174,537 37,790
Revenue bonds payable 595,000 - - - 595,000 -
Unamortized bond discount/premium 47,131 215,491 - 541,534 804,156 -
Compensated absences payable 293,382 66,714 36,074 58,301 454,471 73,360
IMRF Pension contributions payable 313,722 77,011 34,745 102,438 527,916 -
Claims payable - - - - - 5,349,185
Total Long-Term Liabilities 6,410,424 74,707,332 203,903 20,526,046 101,847,705 5,460,335
Total Liabilities 8,898,063 91,247,913 2,134,308 25,572,533 127,852,817 8,499,287
Invested in capital assets, net of
related debt 55,345,560 116,645,985 - 43,762,996 215,754,541 6,319,125
Restricted for debt service 634,375 - - - 634,375 -
Restricted for capital improvements 400,000 - - - 400,000 -
Unrestricted 8,246,988 3,513,271 (1,571,711) 15,196,441 25,384,989 (4,485,160)
Total net assets (deficit)64,626,923$ 120,159,256$ (1,571,711)$ 58,959,437$ 242,173,905$ 1,833,965$
Liabilities
Net Assets
Business-type Activities- Enterprise Funds
-35-
CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Combining Statement of Revenues, Expenses, and Changes in Fund Net Assets
Governmental
Activities-
Motor Vehicle Internal
Parking Service
Water Sewer Solid Waste System Total Funds
Operating Revenues
Charges for services 10,766,262$ 11,324,113$ 2,713,827$ 4,916,930$ 29,721,132$ 18,038,335$
Miscellaneous 1,602,271 52,488 186,345 11,581 1,852,685 49,679
Total Operating Revenues 12,368,533 11,376,601 2,900,172 4,928,511 31,573,817 18,088,014
Operating Expenses Excluding Depreciation
Administration 786,111 1,492,723 916,242 1,395,252 4,590,328 -
Operations 5,360,541 480,936 3,396,751 2,701,007 11,939,235 18,624,529
Total Operating Expenses
Excluding Depreciation 6,146,652 1,973,659 4,312,993 4,096,259 16,529,563 18,624,529
Operating Income (Loss) Before Depreciation 6,221,881 9,402,942 (1,412,821) 832,252 15,044,254 (536,515)
Depreciation 1,090,433 2,746,965 - 1,811,148 5,648,546 1,106,666
Operating Income (Loss)5,131,448 6,655,977 (1,412,821) (978,896) 9,395,708 (1,643,181)
Nonoperating Revenues (Expenses)
Investment income 6,568 2,094 9 7,432 16,103 587
Interest expense (169,687) (2,347,051) (3,699) (881,708) (3,402,145) -
Bond expenses and amortization of discount 70,692 (72,887) - 115,910 113,715 -
Amortization of bond premium - 57,212 - - 57,212 -
Other expenses (150) - - - (150) -
Gain (loss) on disposition of assets (113,237) - - - (113,237) 85,109
Total Nonoperating Revenues (Expenses)(205,814) (2,360,632) (3,690) (758,366) (3,328,502) 85,696
Income (Loss) before transfers and contributions 4,925,634 4,295,345 (1,416,511) (1,737,262) 6,067,206 (1,557,485)
Capital Contribution -
Governmental Activities (21,349) (37,100) (155,200) 2,750 (210,899) 253,549
Transfers In (Out)
Debt Service - 8,099,352 - - 8,099,352 (27,210)
Water - - - - - 390,254
Washington National Tax Increment District - - - 3,419,636 3,419,636 -
General (3,128,159) - - - (3,128,159) -
Total Transfers In (Out)(3,128,159) 8,099,352 - 3,419,636 8,390,829 363,044
Change in Net Assets 1,776,126 12,357,597 (1,571,711) 1,685,124 14,247,136 (940,892)
Total Net Assets - Beginning 62,850,797 107,801,659 - 57,274,313 227,926,769 2,774,857
Total Net Assets (Deficit)- Ending 64,626,923$ 120,159,256$ (1,571,711)$ 58,959,437$ 242,173,905$ 1,833,965$
For the Ten Months ended December 31, 2011
Business-type Activities- Enterprise Funds
The accompanying notes are an integral part of this statement.
-36-
CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Statement of Cash Flows
Governmental
Activities-
Motor Vehicle Internal
Parking Service
Water Sewer Solid Waste System Total Funds
Cash Flows from Operating Activities
Receipts from customers and users 12,915,567$ 11,476,030$ 2,409,841$ 7,143,987$ 33,945,425$ 18,689,514$
Receipts from interfund services provided 19,768 - 1,512,669 - 1,532,437 -
Payments to suppliers (4,365,960) (1,476,091) (3,026,502) (1,776,162) (10,644,715) (2,892,957)
Payments to employees (493,530) (1,476,649) (806,843) (1,291,255) (4,068,277) (2,844,369)
Payments for interfund services provided (23,180) (1,151,945) - (136,396) (1,311,521) (273,588)
Payments for insurance premiums - - - - - (11,085,987)
Net Cash Provided by (Used for) Operating Activities 8,052,665 7,371,345 89,165 3,940,174 19,453,349 1,592,613
Cash Flows from Noncapital Financing Activities
Transfers In (Out)
Water - - - - - 390,254
Debt Service - 8,099,352 - - 8,099,352 (27,210)
Washington Tax Increment District - - - 3,419,636 3,419,636 -
General (3,128,159) - - - (3,128,159) -
Net Cash Provided by (Used for) Noncapital Financing Activities (3,128,159) 8,099,352 - 3,419,636 8,390,829 363,044
Cash Flows from Capital and Related Financing Activities
Sale of capital assets - - - - - 85,109
Acquisition and construction of capital assets (5,975,724) (554,791) - (2,869,304) (9,399,819) (995,043)
Principal prepayment of revenue bonds (575,000) - - - (575,000) -
Interest paid on revenue bonds (24,672) - - - (24,672) -
Interest prepayment of revenue bonds (24,672) - - - (24,672) -
Grants and Contributions - - - 115,910 115,910 253,549
Proceeds from general obligation bonds 3,340,000 690,000 - - 4,030,000 -
Principal paid on general obligation bonds (63,662) (2,880,158) (13,483) (2,383,114) (5,340,417) -
Interest paid on general obligation bonds (16,170) (621,599) (3,425) (1,064,809) (1,706,003) -
Bond expenses 9,550 (65,134) - (74,054) (129,638) -
Principal paid on IEPA loans (33,752) (8,103,019) - - (8,136,771) -
Interest paid on IEPA loans - (2,132,601) - - (2,132,601) -
Proceeds from IEPA grant 483,466 - - - 483,466
Proceeds from IEPA loans 158,893 - - - 158,893 -
Net Cash (Used for) Capital and Related Financing Activities (2,721,743) (13,667,302) (16,908) (6,275,371) (22,681,324) (656,385)
Cash Flows from Investing Activities
Interest income 6,418 2,094 9 7,432 15,953 587
Net Increase (Decrease) in Cash and Equivalents 2,209,181 1,805,489 72,266 1,091,871 5,178,807 1,299,859
Cash and Equivalents
Beginning 7,336,117 3,152,553 - 11,584,448 22,073,118 1,426,695
Ending 9,545,298$ 4,958,042$ 72,266$ 12,676,319$ 27,251,925$ 2,726,554$
Reconciliation
Cash and equivalents
Current Cash 8,510,923$ -$ 72,266$ 12,676,319$ 21,259,508$ 2,726,554$
Restricted Current Cash 1,034,375 4,958,042 - - 5,992,417 -
9,545,298$ 4,958,042$ 72,266$ 12,676,319$ 27,251,925$ 2,726,554$
For the Ten Months ended December 31, 2011
Business-type Activities- Enterprise Funds
The accompanying notes are an integral part of this statement.Continued
-37-
CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Statement of Cash Flows - Continued
Governmental
Activities-
Motor Vehicle Internal
Parking Service
Water Sewer Solid Waste System Total Funds
Reconciliation of Operating Income (Loss) to Net Cash Provided
by (Used for) Operating Activities
Operating income (loss) 5,131,448$ 6,655,977$ (1,412,821)$ (978,896)$ 9,395,708$ (1,643,181)$
Depreciation 1,090,433 2,746,965 - 1,811,148 5,648,546 1,106,666
Changes in assets and liabilities
Increase/decrease in A/R miscellaneous 547,708 99,429 (490,331) - 156,806 601,500
Other receivables - - - 6,386 6,386 -
Prepaid expenses - - - - - (514,133)
lnterfund receivable (13,457) (1,151,945) - (136,396) (1,301,798) -
Inventories (89,725) 26,613 - - (63,112) (177,412)
Compensated absences 106,932 (34,928) 69,028 44,583 185,615 12,109
Claims Payables - - - - - 2,000,343
lnterfund payable 10,045 (1,364) 1,512,669 2,209,090 3,730,440 (273,588)
OPEB liability payable 21,772 7,302 5,626 6,938 41,638 8,459
IMRF contributions payable 163,877 43,700 34,745 52,476 294,798 -
Unearned revenue (674) - - - (674) -
Vouchers payable 266,465 206,673 370,249 518,617 1,362,004 -
Vouchers payable (restricted)204,267 (1,227,077) - 406,228 (616,582) -
Accounts Payables 613,574 - - - 613,574 471,850
Net Cash Provided by (Used for) Operating Activities 8,052,665$ 7,371,345$ 89,165$ 3,940,174$ 19,453,349$ 1,592,613$
Noncash Investing, Capital and Financing Activities:
Business-type Activities- Enterprise Funds
For the Ten Months ended December 31, 2011
During 2011, $210,899 of the Series 2010 bonds payable were reallocated to/from governmental activities comprising of reallocation from Water Fund
$21,349, Sewer Fund $37,100 and Solid Waste $155,200; and reallocation to Motor Vehicle Parking System of $2,750.
Concluded
-38-
CITY OF EVANSTON, ILLINOIS
Fiduciary Funds
Statement of Net Assets
Pension
Trust Funds
Assets
Cash and short-term investments 6,784,662$
Receivables
Accrued interest 446,217
Contribution receivable - Due from other funds 2,362,468
Total Receivables 2,808,685
Investments, at fair value
U.S. Government and agency obligations 41,355,694
Corporate bonds 13,124,203
Common stock 22,969,373
Mutual funds 40,477,356
Total Investments 117,926,626
Total Assets 127,519,973
Liabilities
Vouchers payable 30,088
Net assets held in trust 127,489,885$
December 31, 2011
The accompanying notes are an integral part of this statement.
-39-
CITY OF EVANSTON, ILLINOIS
Fiduciary Funds - Pension Trust Funds
Statement of Changes in Plan Net Assets
Pension
Trust Funds
Additions
Contributions
Employer 9,733,249$
Plan members 1,892,085
Other-Donations, Legal Sett.,Surplus Sales 203
Total contributions 11,625,537
Investment income
Net appreciation (depreciation) in
fair value of investments (764,541)
Investment income 3,103,813
Total investment income 2,339,272
Less investment expense 340,072
Net investment income 1,999,200
Total additions 13,624,737
Deductions
Benefits 12,670,121
Refunds of contributions 128,188
Administrative expense 160,879
Total deductions 12,959,188
Net increase 665,549
Net assets held in trust for pension benefits
Beginning 126,824,336
Ending 127,489,885$
For the Ten Months ended December 31, 2011
The accompanying notes are an integral part of this statement.
-40-
CITY OF EVANSTON, ILLINOIS
Index for Notes to the Financial Statements
Page
Note 1. Summary of Significant Accounting Policies
A. Reporting Entity 44
B. Government-wide and Fund Financial Statements 45
C. Fund Accounting 45
D. Measurement Focus, Basis of Accounting, and Financial Statement Presentation 46
E. Cash and Equivalents 49
F. Investments 49
G. Inventories & Prepaid Items 49
H. Capital Assets 50
I. Compensated Absences 50
J. Long-Term Obligations 50
K. Self-Insurance 51
L. Property Taxes 51
M. Fund Equity 52
N. Interfund Transactions 53
O. Use of Estimates 53
P. Property held for resale 53
Q. Effect of New Accounting Standards on Current Period Financial Statements 53
R. Conduit Debt 53
Note 2. Reconciliation of Government-wide and Fund Financial Statements
A.
54
B.
54
Note 3. Stewardship, Compliance, and Accountability
A. Budgetary Information 56
B. Deficit Fund Equity 57
Note 4. Deposits with Financial Institutions and Investments
A. Types of Accounts and Securities 58
B. Pooling of Cash and Investments 58
C. Types of Investments 59
D. Deposits 61
E. Reconciliation of Unrestricted and Restricted Cash and Investments 61
Explanation of Certain Differences between the Governmental Fund Balance
Sheet and the Government-wide Statement of Net Assets
Explanation of Certain Differences between the Governmental Fund Statement
of Revenues, Expenditures, and Changes in Fund Balances and the Government-
wide Statement of Activities
-41-
CITY OF EVANSTON, ILLINOIS
Index for Notes to the Financial Statements
Page
(continued from previous page)
Note 5. Receivables
A. Summary of Receivables 62
B.Notes Receivable – Special Revenue Funds 62
Note 6. Capital Assets
A. Capital Asset Activity 63
B. Construction Commitments 65
Note 7. Interfunds
A. Interfund Accounts 66
B. Interfund Transfers 69
C. Capital Contributions 71
Note 8. Operating Leases 72
Note 9. Long-Term Debt
A. Changes in Long-Term Debt 73
B. General Obligation Bonds Payable 75
C. Special Service District Bonds Payable 76
D. Revenue Bonds Payable 76
E.Notes Payable – IEPA Loans 77
F. Prior Years' General Obligation Bond Defeasances 77
G. Post Employment benefits other than Pensions (Defined Benefit Plan) 78
Note 10. Fund Equity
A. Restrictions of Net Assets - Water Fund 80
B. Restricted Net Assets - Fiduciary Funds 80
C. Assigned Fund Balances 81
Note 11. Individual Fund Activities
A. General Obligation Debt Service Fund 82
B. Water Fund 82
C. Special Service District No. 4 82
Note 12. Risk Management – Claims and Judgments 83
-42-
CITY OF EVANSTON, ILLINOIS
Index for Notes to the Financial Statements
Page
(continued from previous page)
Note 13. Contingencies 84
Note 14. Joint Ventures
A. Solid Waste Agency of Northern Cook County 84
B. Evanston Housing Corporation 86
Note 15. Deferred Compensation Plan 87
Note 16. Defined Benefit Pension Plans
Illinois Municipal Retirement Fund
A. Plan Description 88
B. Funding Status and Progress 89
C. Annual Pension Cost 89
Police and Firefighters' Pension Plans
D. Plan Descriptions 90
E. Summary of Significant Accounting Policies
- Basis of Accounting 92
- Method Used to Value Investments 92
F. Contributions and Reserves 93
G. Concentration of Investments 94
H. Five-Year Trend Information – Pension Trust Funds 94
I. Pensions - Detailed Statement of Net Assets 95
J. Pensions - Detailed Statement of Changes in Net Assets 96
K. Pensions - Actuarial Valuations 97
L. Funding Status and Progress 97
-43-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The more significant of the City's accounting policies are described below.
A. Reporting Entity
Blended Component Unit:
The Town of the City of Evanston, Illinois (Township) is a separate legal entity which administers General Assistance, a
public welfare program assigned by Illinois law to townships. Eligible clients receive General Assistance for food, shelter, and
medical needs. Through the town-fund levy, the Township also supports a number of community action programs, which
provide direct services to welfare recipients. The Township is governed by a Township Board of Trustees and provides
services within the same geographic boundaries of the City. The Township Board of Trustees are the same individuals as the
City Council. The Township board levies taxes and is responsible for adopting the Township budget and approving payment
of bills. The Township has two elected officials: the Supervisor and the Assessor, each elected for four-year terms. The
Supervisor is responsible for Township funds and for the administration of General Assistance. The Assessor does not
actually assess property; that function is carried out by the Cook County Assessor. The Township Assessor serves as a
taxpayer's advocate, helping citizens with tax-related questions.
The City was incorporated in 1863. The City operates under a Council-Manager form of government, is a home rule
municipality as defined by Illinois state law, and provides the following services as authorized by its charter: general
management and support, public safety, public works, health and human resource development, recreational and cultural
opportunities, and housing and economic development.
As required by GAAP, these financial statements present the City (the primary government) and its component unit, an entity
for which the City is considered to be financially accountable. Although the component unit is legally a separate entity, it is
governed by the same board; therefore, data from this unit is blended with data of the City.
The financial statements of the City of Evanston (City) have been prepared in conformity with accounting principles generally
accepted in the United States of America as applied to governmental units (hereinafter referred to as "Generally Accepted
Accounting Principles" (GAAP). The Governmental Accounting Standards Board (GASB) is the accepted standard-setting
body for establishing governmental accounting and financial reporting principles.
The Assessor also works to assure equity of assessments, and maintains records of building and demolition permits and of all
tax-exempt properties. The Township Board of Trustees can issue debt on its own behalf, and such debt can be issued in the
Township’s name alone.
The Township is included in the Reporting Entity due to its financial accountability because the Township Board of Trustees
are the same individuals as the City Council members. The Township has a March 31 fiscal year-end. Amounts included in
this report are as of and for the year ended March 31, 2011. This report is the most recent one available.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
A. Reporting Entity - Continued
Complete financial statements for the Township may be obtained at the following address:
Town of the City of Evanston
1910 Main Street
Evanston, Illinois 60201
Joint Ventures:
B. Government-wide and Fund Financial Statements
C. Fund Accounting
The City uses funds to report on its financial position and the results of its operations. A fund is a separate accounting entity
with a self-balancing set of accounts. Fund accounting is designed to demonstrate legal compliance and to aid financial
management by segregating transactions related to certain government functions or activities.
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. Major individual governmental funds and major individual
enterprise funds are reported as separate columns in the fund financial statements. Nonmajor funds are reported in the
supplementary information.
The City participates in two joint ventures, which are reported as nonequity governmental joint ventures and are described in
Footnote 14. The joint ventures are: City of Evanston and Solid Waste Agency of Northern Cook County (SWANCC) and
Evanston Housing Corporation.
The government-wide financial statements (i.e., the statement of net assets and the statement of activities) report information
on all of the nonfiduciary activities of the City. The effect of interfund activity has been removed from these statements
excluding interfund services provided. Governmental activities, which normally are supported by taxes and intergovernmental
revenues, are reported separately from business-type activities, which rely to a significant extent on fees and charges for
support.
The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by
program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program
revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or
privileges provided by a given function or segment and 2) grants and contributions that are restricted to meeting the
operational or capital requirements of a particular function or segment. Taxes and other items not properly included among
program revenues are reported instead as general revenues.
Funds are classified into three categories: governmental, proprietary, and fiduciary. Each category, in turn, is divided into
separate "fund types."
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
C. Fund Accounting - Continued
D. Measurement Focus, Basis of Accounting, and Financial Statement Presentation
Governmental funds are used to account for all or most of the City'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 City not accounted for in some other fund. All Township funds are considered special revenue funds within
the governmental funds category.
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 City. When these assets are held under the terms of a formal trust agreement, a permanent fund is used.
Agency funds generally are used to account for assets that the City holds on behalf of others as their agent. The pension trust
fund accounts for the activities of the Police and Firefighters' Pension funds, which accumulate resources for pension benefit
payments to retired police and fire personnel.
The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis
of accounting, as are the proprietary fund statements. Revenues are recorded when earned and expenses are recorded when a
liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for
which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by
the provider have been met.
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 City (internal service funds).
Internal service funds are included with the governmental funds on the government-wide financial statements.
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. For this purpose, the City considers property taxes as available if they are collected within 60 days of the end
of the current fiscal period. A six month availability period is used for revenue recognition for all other governmental fund
revenues. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt
service expenditures, as well as expenditures related to compensated absences, are recorded when payment is due or when
amounts have been accumulated in the debt service fund for payment to be made early in the following year.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
D. Measurement Focus, Basis of Accounting, and Financial Statement Presentation - Continued
1.) Taxes 6.) Fines
Property Traffic fines
Sales (Home Rule)
Utility 7.) Intergovernmental
Personal property Motor fuel tax allotments
Grants
2.) Licenses Supplemental Security Income reimbursements
Income taxes
3.) Franchise fees Sales taxes
Use tax
4.) Charges for services
8.) Investment income
5.) Recycling program fees and sales
The City reports the following major governmental funds:
All other revenue items are considered to be measurable and available only when cash is received by the City.
Governmental funds report deferred revenue in connection with receivables for revenues that are not considered to be
available to liquidate liabilities of the current period.
The Capital Improvements Fund accounts for the City's capital improvement program. The program includes
improvement to public buildings, paving of City streets, improvement of recreational facilities and other improvements.
The Employer Pension Contribution Fund is a special revenue fund which accounts for the recognition of applicable tax
revenues and employer contributions to the Pension Trust funds.
The following revenues associated with the current fiscal period are all considered to be susceptible to accrual and so have
been recognized as revenues of the current fiscal period.
The General Obligation Debt is a debt service fund which accumulate monies for the principal and interest payments on
general obligation debt.
The General Fund is the City's primary operating fund. It accounts for all financial resources of the general
government, except those required to be accounted for in another fund.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
D. Measurement Focus, Basis of Accounting, and Financial Statement Presentation - Continued
The City reports the following major proprietary funds:
Additionally, the City reports the following fund types:
Amounts reported as program revenues include 1) charges to customers for goods, services, or privileges provided, 2) operating
grants and contributions, and 3) capital grants and contributions, including assessments. Internally dedicated resources are
reported as general revenue rather than as program revenue. Likewise, general revenues include all taxes.
The Water Fund accounts for the provision of water services to the residents of the City and the sale of water to the
Village of Skokie, Illinois, and the Northwest Water Commission. All activities necessary to provide such services are
accounted for in this fund, including, but not limited to, administration, operation, maintenance, financing and related debt
service, and billing and collection.
The Motor Vehicle Parking System accounts for the provision of the public and residential parking facility on Church
Street, Maple Avenue, and Sherman Avenue, as well as all the City's parking lots and meters. All activities are accounted
for including administration, operations, financing and revenue collection.
Solid Waste Fund accounts for the recycling, refuse and yardwaste removal services related fees and expenses. Refuse
and yardwaste are contracted out, while recycling is handled by the city staff.
Internal Service funds account for the fleet management and insurance services provided to other departments or agencies
of the government, or to other governments, on a cost reimbursement basis.
The Sewer Fund accounts for the provision of sewer repair and improvement services to the residents of the City. All
activities necessary to provide such services are accounted for in this fund, including administration, operations, financing,
and billing and collection.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses
generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal
ongoing operations. The principal operating revenues of the enterprise funds and of the City’s internal service funds are charges
to customers for sales and services. Operating expenses for enterprise funds and internal service funds include the cost of sales
and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition
are reported as nonoperating revenues and expenses.
Pension Trust funds account for the activities of the Police and Firefighters' Pension Funds, which accumulate resources
for pension benefit payments to qualified public safety employees.
The City's business type-activities and enterprise funds apply all applicable GASB guidance as well as relevant Financial
Accounting Standards Board (FASB) guidance issued on or before November 30, 1989, unless those guidance conflict or
contradict GASB guidance, in which case, GASB prevails.
As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements.
-48-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
D. Measurement Focus, Basis of Accounting, and Financial Statement Presentation – Continued
E. Cash and Equivalents
F. Investments
G. Inventories and Prepaid Items
When both restricted and unrestricted resources are available for use, it is the City’s policy to use restricted resources first,
then unrestricted resources as they are needed.
Investments consist of certificates of deposit, treasury obligations, government agency obligations, and insurance contracts
with maturities greater than three months. Investments for the pension funds are mostly comprised of treasury obligations,
government agency obligations, fixed income and equity mutual funds, and stocks. Investments of the pension trust funds are
carried at fair value. Investments with over one year to maturity are reported at fair value. All other investments are stated at
cost or, for U.S. government securities, amortized cost. These securities may be purchased at a premium or discount which is
amortized over the life of the investment. This valuation method approximates fair value.
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both
government-wide and fund financial statements.
Inventories in the Water, Sewer, and Fleet Service Funds are valued at the lower of cost (first-in, first-out) or market.
Inventory amounts are recorded on the basis of a physical count.
Cash and equivalents represent cash on hand, cash deposited in interest-bearing and noninterest-bearing checking accounts,
and investments in money markets, certificates of deposit, and treasury obligations with maturities of three months or less at
the date of acquisition, and cash deposited with the Illinois Funds.
The City reports unearned revenues on its government funds statements. Unearned revenues arise when a potential revenue
does not meet both the "measurable" and "available" criteria for recognition in the current period. Unearned revenues also
arise when resources are received by the City before it has a legal claim to them, as when grant monies are received prior to the
incurrence of qualifying expenditures. If subsequent revenue recognition criteria are met, or when the City has a legal claim to
the resources, the liability for unearned revenue is removed from the combined balance sheet and the revenue is recognized.
-49-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
H. Capital Assets
Description Years Description Years
Land improvements 10-100 Buildings and improvements 10-50
Leasehold improvements 10-100 Office equipment and furniture 5-15
Plant 20-100 Machinery and equipment 5-15
Transmission and distribution Infrastructure 30-100
system 5-100 Library collections 7
Sewer system and Intangible Assets 5-10
underground lines 75-100
Parking meters 15
I. Compensated Absences
J. Long-Term Obligations
Capital assets, which include property, plant, and equipment and infrastructure assets (e.g. roads, sidewalks, trails, bridges,
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 government as equipment and vehicles with an initial, individual cost of
more than $20,000, or infrastructure, buildings, or building improvements with an initial, individual cost of more than
$100,000. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital
assets are recorded at estimated fair market value at the date of donation.
In the fund financial statements, governmental fund types 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 debt service expenditures.
It is the City’s policy to permit employees to accumulate earned but unused vacation and sick pay benefits. All payments due
in the event of termination are accrued when incurred in the government-wide and proprietary fund financial statements. The
General Fund has been used in prior years to liquidate the liability for compensated absences of governmental funds.
In the government-wide financial statements and proprietary fund types 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 type statement of net assets. Bond premiums and discounts, if material, are deferred and amortized over the
life of the bonds. Bonds payable are reported net of the applicable bond premium or discount.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets' lives are not
capitalized. Infrastructure acquired prior to the February 28, 2003 implementation of GASB 34 has been reported.
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, and intangible assets are amortized using the straight-line method over the
following estimated useful lives:
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
K. Self-Insurance
L. Property Taxes
The property tax calendar for Cook County is as follows:
Description Date
Lien Date January 1 of Levy Year
Levy Date December of Levy Year
First Installment Due Date
(55% of prior bill)March 1 / April 1 of Year following Levy Year
Second Installment Due Date
(balance of total bill)September 1 / October 1 of Year following Levy Year
The City is self-insured to certain limits for general liability claims and for workers' compensation insurance. A liability is
recorded when it is probable that a loss has occurred and the amount of the loss can be reasonably estimated. Claims liabilities
are based on estimates of the ultimate cost of reported claims including future claims adjustment expenses. General liability
and workers' compensation claims are paid out of the Insurance Fund.
Property taxes are collected by the Cook County Collector and are remitted periodically to all taxing bodies, including the City
and Township. Distributions are made more often during the two main collection periods. Property taxes are levied on a
calendar year basis by passage of a tax levy ordinance.
Property tax revenues are recognized when they become both measurable and available. On this basis, property tax revenue
includes all cash distributions of property tax received during the fiscal period between March 1,2011 and December 31,2011
and all property tax collections received within 60 days after the end of the fiscal period. A 2% allowance for loss is reflected
in the City financial statements.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
L. Property Taxes - Continued
M. Fund Equity
1. Nonspendable - Includes fund balance amounts that can not be spent either because they are not in spendable form or
because legal or contractual stipulations require them to be maintained intact.
2. Restricted - Consists of fund balances with constraints placed on their use either by 1) external groups such as creditors,
grantors, contributors, or laws or regulations of other governments or 2) law through constitutional provisions or enabling
legislation.
3. Committed - Includes fund balance amounts that are constrained for specific purposes that are internally imposed by the
government through formal action of the highest level of decision making authority. Fund balance amounts are committed
through a formal action of the city. This formal action must occur prior to the end of the reporting period, but the amount of
commitment, which will be subject to constraints, may be determined in the subsequent period. Any changes to the constraints
imposed require the same formal action of the city that originally created the commitment.
4. Assigned - Includes spendable fund balance amounts that are intended to be used for specific purposes that are not
considered restricted or committed. Fund balance may be assigned through the following; 1) Council may take official action to
assign amounts. 2) All remaining positive spendable amounts in governmental funds, other than the general fund, that are neither
restricted nor committed. Assignments may take place after the end of the reporting period.
5. Unassigned - Includes residual positive fund balance within the general fund which has not been classified within the
other above mentioned categories. Unassigned fund balance may also include negative balances for any governmental fund if
expenditures exceeds amounts restricted, committed, or assigned for those purposes.
The adjustment necessary to convert GAAP basis property tax revenues to budgetary basis is shown in the notes to the required
supplementary information in the section on Budgets and Budgetary Accounting.
The Town Fund and General Assistance Fund unearned revenue represents the net portion of the 2010 property tax levy that will
not be collected within 60 days of the Township's March 31, 2011 year-end. A 5% allowance for loss is reflected in the
Township financial statements.
Assignments may not create unassigned deficits in any fund. However, nonspendable, restricted, or committed fund balance
may create an unassigned deficit. Also, restricted, committed, and assigned balances themselves may not be negative.
The city considers restricted amounts to be spent first when both restricted and unrestricted fund balance is available unless
there are legal documents / contracts that prohibit doing this, such as in grant agreements requiring dollar for dollar spending.
Additionally, the city would first use committed, then assigned and lastly unassigned amounts of unrestricted fund balance when
expenditures are made.
Governmental fund equity is classified as fund balance. In February 2009, the GASB issued statement No. 54 – Fund Balance
Reporting and Governmental Fund Type Definitions. This statement establishes fund balance classifications based primarily on
the extent to which the government is bound to honor constraints on the use of the resources reported in each governmental fund
as well as establishes additional notes disclosures regarding fund balance classification policies and procedures. The City made
the decision to implement this standard effective March 1,2011. In accordance with Governmental Accounting Standards Board
Statement No. 54 - Fund Balance Reporting and Governmental Fund Type Definitions, the city classifies governmental fund
balance as follows:
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
N. Interfund Transactions
O. Use of Estimates
P. Property Held for Resale
Q. Effect of New Accounting Standards on Current Period Financial Statements
R. Conduit Debt
The City has issued $13,590,000 Series 2011 Revenue Bonds during the current fiscal period to provide financial assistance to
Roycemore School, deemed to be in public interest. The use of proceeds includes the property purchase and renovation of the
1201 Davis, the new location of the school and payment of miscellaneous costs. The bonds are secured by the property or
mortgages financed and are payable from the moneys, securities and other revenues pledged under the indenture by the School.
The City is not obligated in any manner for the repayment of bonds. Accordingly, the bonds outstanding are not reported as a
liability in these financial statements. As of December 31, 2011, outstanding bond balance was $13,590,000.
The City had issued $5,000,000 Series 2010 Revenue Bonds during the fiscal year 2010-2011 to provide financial assistance to
Chiravalle Montessori School, deemed to be in public interest. The use of proceeds includes the property purchase from City of
Evanston, improvement to the existing building, refinancing existing debt and payment of miscellaneous costs. The bonds are
secured by the property or mortgages financed and are payable from the moneys, securities and other revenues pledged under the
indenture by the School. The City is not obligated in any manner for the repayment of bonds. Accordingly, the bonds
outstanding are not reported as a liability in these financial statements. As of December 31, 2011, outstanding bond balance was
$4,885,000.
In the Governmental Funds the cost of property held for resale is reported as an asset with increases and decreases for purchases
and sales.
Transactions that constitute reimbursements to a fund for expenditures/expenses initially made from it that are properly
applicable to another fund are recorded as expenditures/expenses in the reimbursing fund and as reductions of
expenditures/expenses in the fund that is reimbursed. All other interfund transactions are reported as transfers.
In preparing financial statements, management is required to make estimates and assumptions that affect the reported amounts of
assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported
amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
The Governmental Accounting Standards Board (GASB) has approved GASB Statement No. 61, The Financial Reporting
Entity: Omnibus, and Statement No.62, Codification of Accounting and Financial Reporting Guidance Contained in Pre-
November 30, 1989 FASB and AICPA Pronouncements; Statement No. 63, Financial Reporting of Deferred Outflows of
Resources, Deferred Inflows of Resources, and Net Position; and Statement No. 64, Derivative Instruments; Application of
Hedge Accounting Termination Provisions - an amendment of GASB Statement No. 53. Application of these standards may
restate portions of these financial statements.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 2. RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS
A.
General obligation bonds payable 122,579,206$
Bonds premium liability 3,608,584
Compensated absences payable 9,740,169
IMRF Pension contributions payable 2,720,075
Pension contributions payable 22,037,666
160,685,700$
B.
1.
Capital outlay 12,513,244$
Depreciation expense (9,310,231)
3,203,013$
Net adjustments to reduce fund balance – total
governmental funds to arrive at net assets –
governmental activities
Explanation of Certain Differences between the Governmental Fund Balance Sheet and the Government-
wide Statement of Net Assets
The governmental fund balance sheet includes a reconciliation between fund balance - total governmental funds and
net assets – governmental activities as reported in the government-wide statement of net assets. One element of that
reconciliation explains that “Long-term liabilities, including bonds payable, compensated absences payable, and
pension contributions payable, are not due and payable in the current period and, therefore, are not reported in the
funds.” The details of this difference are as follows:
Explanation of Certain Differences between the Governmental Fund Statement of Revenues,
Expenditures, and Changes in Fund Balances and the Government-wide Statement of Activities
The government fund statement of revenues, expenditures, and changes in fund balances includes a
reconciliation between net changes in fund balances – total governmental funds and changes in net assets
of governmental activities as reported in the government-wide statement of activities. One element of
that reconciliation explains that “Governmental funds report capital outlays as expenditures. However, in
the statement of activities, the cost of those assets is allocated over their estimated useful lives and
reported as depreciation expense.” The details of this difference are as follows:
Net adjustment to increase net changes in fund
balances - total governmental funds to arrive at
changes in net assets of governmental activities
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 2.
B.
2.
Principal repayments:
General obligation debt 9,742,334$
IMRF Pension contributions payable 2,523,327
Capital lease 363,759
12,629,420$
3.
Compensated absences 170,098$
Amortization income 720,230
Pension contributions (1,056,260)
IMRF Pension contributions payable (4,019,532)
(4,185,464)$
4.
Bond (15,210,000)$
Bond premium liability (210,176)
(15,420,176)$
Another element of that reconciliation states that "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." The details of this difference are as follows:
Another element of that reconciliation states that "Issuance of Bonds provides current financial resources
to governmental funds." The details of this difference are as follows:
Net adjustment to increase net changes in fund
balances - total governmental funds to arrive at
changes in net assets of governmental activities
Net adjustment to increase net changes in fund
balances – total governmental funds to arrive at
changes in net assets of governmental activities
Net adjustment to decrease net changes in fund
balances – total governmental funds to arrive at
changes in net assets of governmental activities
RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS –
Continued
Explanation of Certain Differences between the Governmental Fund Statement of Revenues,
Expenditures, and Changes in Fund Balances and the Government-wide Statement of Activities -
Continued
Another element of that reconciliation states that "The repayment of the principal of long-term debt
consumes the current financial resources of governmental funds. These transactions, however, have no
effect on net assets." The details of this difference are as follows:
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 3. STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
A. Budgetary Information
The City follows these procedures in establishing the budgetary data reflected in the financial statements:
1.
2. Public budget hearings are conducted. Taxpayer comments are received and noted.
3. The budget is legally enacted through passage of a resolution.
4.
5.
Blended Component Unit
The following City and Township funds do not have legally adopted budgets:
Special Revenue
Budgets are legally adopted on a basis consistent with GAAP except that property taxes are budgeted as
revenue in the year they are levied. For purposes of preparing the General Fund - Budget and Actual
(Budgetary Basis) Schedule of Revenues, Expenditures, and Changes in Fund Balance, GAAP revenues
and expenditures have been adjusted to the budgetary basis.
The Township prepares its annual appropriation ordinance, which is synonymous with its budget, using the
modified accrual basis of accounting. The appropriation ordinance was adopted June 28, 2010. It covers both
Township funds.
The Township follows procedures similar to those of the City in establishing the budgetary data reflected in the
financial statements. The budget was not amended during the current fiscal period.
Library Endowment and Employer Pension Contribution Funds.
Because of the change in fiscal year to a calendar year, the City Manager will submit to the City Council a
proposed operating budget for the upcoming fiscal year commencing January 1, 2013. The operating
budget includes proposed expenditures and the means of financing them.
The City Manager is authorized to transfer budgeted amounts between departments within any fund;
however, any revisions that alter the total expenditures of any fund must be approved by the City Council.
There were budget allocations within General fund but the total did not change.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 3. STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY - Continued
A. Budgetary Information - Continued
Fund Actual Budget Excess
General Obligation Debt $ 12,977,212 9,957,676$ $ 3,019,536
Howard Ridge Tax Increment District 27,552 - 27,552
Special Service District No. 4 388,000 378,000 10,000
B. DEFICIT FUND EQUITY
The Southwest Tax Increment District had a net deficit of $114,083 as of December 31, 2011. The City plans to use
current resources and possible debt proceeds to pay for future liabilities.
The Solid Waste Fund had a net deficit of $1,571,711 as of December 31, 2011. The City plans to use current
resources to pay for future liabilities.
The Insurance Fund, an internal service fund, had a net deficit of $6,124,771 as of December 31, 2011. The City
plans to use current resources to pay for future liabilities.
The level of control (level at which expenditures may not exceed budget) is the fund.All unencumbered annual
appropriations lapse at the end of the fiscal period.
The following funds had an excess of actual budgetary expenditures over original and final budget for the ten months
ended December 31, 2011:
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS
A. Types of Accounts and Securities
B. Pooling of Cash and Investments
Illinois statutes and the City's investment policies authorize the City to invest in obligations of the U.S. Treasury, in Government
Sponsored Enterprises (GSE) such as Federal Home Loan Mortgage Corporation (FHLMC), Federal Home Loan Bank (FHLB),
and Fannie Mae (FNMA); Bankers Acceptances as well as commercial paper rated only in the highest tier; Repurchase agreements
of the highest grade; Collateralized Certificates of Deposit issued by FDIC insured financial institutions, money market mutual
funds with portfolios limited to securities guaranteed by the United States, the Illinois Metropolitan Investment Fund (IMET), and
the Illinois Funds.
It is the policy of the City to invest public funds in a manner whereby its investment objectives are prioritized in the following order:
Safety of Principal, Liquidity, and Rate of Return. The City also seeks to maintain diversification of investments to avoid
overconcentration of any one specific issuer or business sector. To mitigate interest rate risk, the City tries to structure the
investment portfolio to meet daily cash flow needs so as to avoid needing to sell securities on the open market. The City seeks to
attain market rates of return consistent with constraints imposed by safety and cash flow needs. The City invests to conform to all
state and local statutes governing the investment of public funds. More detail is available in the City's investment policy. Library
has investments in equities which is not permissible under the state statutes.
The Firefighters' and Police Pension Funds are set up for the exclusive purpose of providing retirement and other benefits to plan
participants and beneficiaries. All investments are governed and authorized by the respective Fire and Police Pension Boards. The
investment objectives and parameters mirror those listed above for the City of Evanston. However, unlike the City's public funds,
the Firefighters and Police Pension funds may invest in various equity accounts up to a limit of 45% of the aggregate value of each
respective fund's assets. The pension funds invest to conform to all state and local statutes governing pension funds. Additional
detail is available in each pension fund's investment policies.
Except for cash and investments in certain restricted and special accounts, the City pools the cash of various funds to maximize
interest earnings. Interest income is allocated to the various funds based upon their respective participation.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS - Continued
C. Types of Investments
Investment Maturities (In Years)
Fair Value Less Than 1 Year 1 - 10 More Years Equities
20,263,273$ 20,263,273$ -$ -$
2,594,797 - - 2,594,797
Total Governmental and Enterprise Investment Fund $ 22,858,070 $ 20,263,273 $ - $ 2,594,797
8,321,513$
11,502,540
439,220
$ 20,263,273
Investment Maturities (In Years)
Fair Value Less Than 1 Year 1 - 10 More Years Equities
5,761,570$ 5,761,570$ -$ -$
40,477,356 - 1,627,083 38,850,273
13,124,203 - 13,124,203
20,852,038 - 20,852,038 -
2,025,861 452,991 1,572,870 -
3,825,806 231,842 3,593,964 -
9,182,456 127,654 9,054,802 -
5,469,532 - 5,469,532 -
22,969,373 - - 22,969,373
$ 123,688,195 $ 6,574,057 $ 55,294,492 $ 61,819,646
868,477$
2,228,644
300,587
2,363,862
$ 5,761,570
Schwab Money Market
MB Bank Money Market
Total Money Market / Liquid Assets
Ginnie Mae
Common Stock
Total Fire and Police Investment
Smith Barney Money Market
JP Morgan Money Market
Money Market / Liquid Assets
Mutual Funds
U.S. Treasuries
Federal Home Loan Bank
Federal Home Loan Mortgage Corp
Fannie Mae
Corporate Bonds
Investment Type
Total Money Market / Liquid Assets
First Bank Money Market
JP Morgan Money Market
Vanguard Money Market
Fire and Police Pension
Investment Type
Money Market / Liquid Assets
Mutual Funds
As of December 31, 2011, the City has the following investments and maturities. The fair value of the Illinois Funds is the same as
the value of the pool shares.
Governmental and Enterprise
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS – Continued
C. Types of Investments - continued
Illinois Funds
City of Evanston 20,574,407$
Township 1,349,161 $ 21,923,568
IMET money market
City of Evanston 5,745,952
Fire and Police pension plan 130,545 5,876,497
$ 27,800,065
Credit Risk.State law limits investments in commercial paper, corporate bonds, and mutual bonds funds to the top two ratings
issued by nationally recognized statistical rating organizations. The City's investment policy does not impose further limits on
investment choices. The Illinois Funds and Money Markets were rated AAA by Standard & Poor's. The Illinois Metropolitan
Investment 1 - 3 Year Fund (IMET) exclusively invests in AAA Standard & Poor's securities, such as treasury and agency
obligations. IMET's convenience fund collateralizes all of its deposits 110%. Illinois Funds and IMET are an investment pools
managed by the State of Illinois, Office of the Treasurer, and a Board of Trustees, respectively which allows governments within the
State to pool their funds for investment purposes. They are not registered with the SEC as an investment company, but do operate in
a manner consistent with Rule 2a7 of the Investment Company Act of 1940. The investments in the securities of the U.S.
government agencies were all rated triple A or Aaa by the Standard & Poor’s and by Moody’s Investor’s Services. The following
investments in Illinois Funds and IMET are valued at the fund’s share price, the price for which the investments could be sold.
Interest Rate Risk.The City's investment policy does not limit investment maturities as a means of managing its exposure to fair
value losses arising from increasing interest rates. The objective is to maintain a core portfolio with maturities primarily in the three
month to three years range.
Custodial Credit Risk.For an investment, custodial credit risk is the risk that, in the event of the failure of the counterparty, the
City will not be able to recover the value of its investment or collateral securities that are in the possession of an outside party. All
of the City's investments were insured, registered, or held by the counterparty’s trust department in the City’s name.
Concentration of Credit Risk.It is the policy of the City to diversify its investment portfolio.Investments shall be diversified to
eliminate the risk of loss resulting from overconcentration in a security, maturity, issuer, or class of securities. At December 31,
2011, Police Pension Trust Fund had investments in FNMA that exceeded 10% of net assets available for benefits. Investments in
FNMA are implicitly implied to be guaranteed by the U.S. government. The Firefighters' Pension Trust Fund had investments in
GNMA that exceeded 10% of net assets available for benefits. Investments in GNMA are explicitly guaranteed by the U.S.
government.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS – Continued
D. Deposits
City
Township
Fiduciary
E. Reconciliation of Unrestricted and Restricted Cash and Investments
Unrestricted cash and equivalents 66,797,745$
Unrestricted investments 2,594,797
Restricted cash and equivalents and investments 5,992,417
Total Cash and Investments – Primary Government 75,384,959
Fiduciary funds cash and equivalents 6,784,662
Fiduciary funds investments 117,926,626
Total Cash and Investments 200,096,247$
Carrying amount of deposits – from Note 4 D 25,749,917$
Illinois funds and IMET money market - from Note 4 C 27,800,065
Investments – from Note 4 C table 146,546,265
Total 200,096,247$
The total of unrestricted cash and investments and restricted cash and investments from the Statement of Net Assets and for the
fiduciary funds is reconciled to the preceding deposit and investment disclosures (Notes 4C and Notes 4D) as follows:
Custodial Credit Risk.For a deposit, custodial credit risk is the risk that, in the event of the failure of the counterparty, the City will
not be able to recover the value of its deposit or collateral securities that are in the possession of an outside party. All of the City's
deposits were insured, collateralized, or filed by the counterparty's trust.
Deposits consist of deposits in interest-bearing and noninterest-bearing checking accounts. At December 31,2011, the carrying
amount of the City's deposits, including cash on hand of $26,244 was $24,692,711. The financial institutions' balances totaled
$23,822,305.
At March 31, 2011, the carrying amount of the Township's deposits was $164,658. The financial institutions' balances totaled
$166,201.
Deposits consist of deposits in interest-bearing and noninterest-bearing accounts. At December 31, 2011, the carrying amount of
the Pension's deposits was $892,548. The financial institutions' balances totaled $861,376.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 5. RECEIVABLES
A. Summary of Receivables
Motor
General Employer Vehicle Nonmajor
General Obligation Pension Solid Parking and Other
Fund Debt Contribution Water Sewer Waste System Funds Total
Receivables:
Property taxes 16,981,094$ 12,325,144$ 14,871,415$ -$ -$ -$ -$ 9,958,863$ 54,136,516$
Accounts - - - 1,531,383 2,259,654 490,331 - - 4,281,368
Notes - - - - - - - 6,194,245 6,194,245
Special assessments - - - - - - - 737,084 737,084
Accrued interest - - - - - - - 9,435 9,435
Other 2,253,299 - - - - - 54,922 840,758 3,148,979
Gross receivables 19,234,393 12,325,144 14,871,415 1,531,383 2,259,654 490,331 54,922 17,740,385 68,507,627
Less: allowance for
uncollectibles (339,622) (246,503) (297,428) - - - - (289,177) (1,172,730)
Net total receivables 18,894,771$ 12,078,641$ 14,573,987$ 1,531,383$ 2,259,654$ 490,331$ 54,922$ 17,451,208$ 67,334,897$
B. Notes Receivable – Special Revenue Funds
Interest Loans Loan
Rates Beginning Made Repayments Ending
0% - 8%6,002,308$ 338,287$ 236,350$ 6,104,245$
Receivables as of December 31, 2011 for the government’sindividual major funds, nonmajor, internal service funds and fiduciary funds in the aggregate,
including the applicable allowances for uncollectible accounts, are as follows:
The City makes loans to City residents for the rehabilitation of single-family and multi-family housing. Initial funding for these loans was from
Community Development Block Grant (CDBG) and Housing and Urban Development (HUD) Funds. Two types of loans are made: (1) title transfer
loans which are due in full when the housing unit is sold, and (2) amortizing loans which are due in monthly installments over varying lengths of time.
Repayments of principal and any interest earned on these receivables, which are recorded in the respective Special Revenue funds, are used to make
additional rehabilitation loans. An allowance of $90,000 exists in the Special Revenue funds due to doubtful accounts. Loan activity for the current
period is summarized as follows:
Out of the total Notes Receivable, $6,124,245 is estimated not to be paid during the next year. Out of the total Special Assessment receivable, $587,000
is estimated not to be paid during the next year.
Governmental funds report deferred revenue in connection with receivables for revenues that are not considered to be available to liquidate liabilities of
the current period. Property taxes levied for the subsequent year less those collected within 60 days of year end are not earned and can not be used to
liquidate liabilities of the current period. Governmental funds also defer revenue recognition in connection with resources that have been received, but not
yet earned. At the end of the current fiscal period, the City's deferred revenue and unearned revenue consisted solely of property taxes levied for the
subsequent years less those collected within 60 days of year end.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 6. CAPITAL ASSETS
A. Capital Asset Activity
Capital asset activity for the ten months ended December 31, 2011, was as follows:
Beginning Additions Deletions Transfers Ending
Governmental activities:
Capital assets, not being depreciated:
Land 6,824,424$ -$ -$ -$ 6,824,424$
Right of way 18,695,896 - - - 18,695,896
Artwork 115,000 - - - 115,000
Construction in progress 1,930,312 - 1,930,312 - -
Total capital assets, not being depreciated 27,565,632 - 1,930,312 - 25,635,320
Capital assets, being depreciated:
Buildings and improvements 88,526,099 3,394,810 - - 91,920,909
Office equipment and furniture 5,695,214 296,405 - 77,182 6,068,801
Intangible assets 6,024,590 279,251 - 88,585 6,392,426
Machinery and equipment 22,551,124 2,143,333 1,052,373 (165,767) 23,476,317
Infrastructure 131,927,999 9,177,520 - - 141,105,519
Library collections 9,425,822 373,118 1,270,029 - 8,528,911
Capitalized leases 1,093,402 - 363,758 - 729,644
Total capital assets being depreciated 265,244,250 15,664,437 2,686,160 - 278,222,527
Less accumulated depreciation for:
Buildings and improvements 32,610,942 1,635,491 - - 34,246,433
Office equipment and furniture 4,966,191 131,197 - 65,891 5,163,279
Intangible assets 5,246,705 110,282 - 84,602 5,441,589
Machinery and equipment 16,477,710 1,188,815 1,052,373 (150,493) 16,463,659
Infrastructure 61,036,834 4,554,150 - - 65,590,984
Library collections 7,259,530 509,015 1,270,029 - 6,498,516
Capitalized leases 817,203 41,242 143,607 - 714,838
Total accumulated depreciation 128,415,115 8,170,192 2,466,009 - 134,119,298
Total capital net assets being depreciated, net 136,829,135 7,494,245 220,151 - 144,103,229
Governmental activities capital assets, net 164,394,767$ 7,494,245$ 2,150,463$ -$ 169,738,549$
-63-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 6. CAPITAL ASSETS - Continued
A. Capital Asset Activity - Continued
Beginning Additions Deletions Transfers Ending
Business-type activities:
Capital assets, not being depreciated:
Land 3,297,937$ -$ -$ -$ 3,297,937$
Construction in progress 772,223 5,492,258 2,246,133 - 4,018,348
Artwork 359,752 - - - 359,752
Total capital assets, not being depreciated 4,429,912 5,492,258 2,246,133 - 7,676,037
Capital assets, being depreciated:
Land improvements 3,563,393 70,106 - - 3,633,499
Buildings and improvements 73,606,657 2,799,199 - - 76,405,856
Leasehold improvements 302,752 - - - 302,752
Plant 36,093,067 83,500 175,602 - 36,000,965
Transmission and distribution system 39,295,556 2,162,633 18,702 - 41,439,487
Sewer system and underground lines 241,955,660 554,791 - - 242,510,451
Intangible assets 384,917 - - - 384,917
Equipment 2,804,603 - 5,310 - 2,799,293
Parking meters 707,688 - - - 707,688
Total capital assets being depreciated 398,714,293 5,670,229 199,614 - 404,184,908
Less accumulated depreciation for:
Land improvements 1,116,055 97,335 - - 1,213,390
Buildings and improvements 13,504,769 1,530,599 - - 15,035,368
Leasehold improvements 302,752 - - - 302,752
Plant 12,991,054 653,939 77,048 - 13,567,945
Transmission and distribution system 7,223,863 377,137 4,019 - 7,596,981
Sewer system and underground lines 36,986,970 2,718,027 - - 39,704,997
Intangible assets 54,988 54,988 - - 109,976
Equipment 1,984,106 107,758 5,310 - 2,086,554
Parking meters 521,802 108,763 - - 630,565
Total accumulated depreciation 74,686,359 5,648,546 86,377 - 80,248,528
Total capital net assets being depreciated, net 324,027,934 21,683 113,237 - 323,936,380
Business-type activities capital assets, net 328,457,846$ 5,513,941$ 2,359,370$ -$ 331,612,417$
-64-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 6. CAPITAL ASSETS - Continued
A. Capital Asset Activity - Continued
Depreciation expense was charged to functions/programs of the primary government as follows:
Governmental activities:
General management and support 299,722$
Public safety 496,683
Public works 5,130,363
Housign and Economic Development 2,784
Recreation and cultural opportunities 2,240,640
Total depreciation expense – governmental activities 8,170,192$
Business – type activities:
Water 1,090,433$
Sewer 2,746,965
Motor Vehicle Parking 1,811,148
Total depreciation expense – business – type activities 5,648,546$
B. Construction Commitments
Capital Improvement Fund 284,636$
Water Fund 2,970,791
Total Construction Commitments 3,255,427$
The value of construction contracts signed, where the work has not yet been performed at December 31, 2011, is as follows:
-65-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 7. INTERFUNDS
A. Interfund Accounts
At December 31, 2011 interfund receivables and payables consist of the following:
Due from Due to
Funds Other Funds Other Funds
Governmental Funds
General Fund
Emergency Telephone System 15,869$ -$
Economic Development 81,623 -
Fleet Service 37,637 -
Insurance - 115,706
Community Development Block Grant 49,855 -
Capital Improvements - 275,760
Home Fund 3 -
Affordable Housing - 10,000
Special Assessment CP Fund - 7,541
Motor Vehicle Parking System 72,655 -
Water 129,634 -
Sewer 57,827 -
Solid Waste 360,724 -
Neighborhood Stabilization Program 2 3,386 -
Community Development Loan 1,216 -
Firefighters Pension - 114,834
Police Pension - 142,949
Total General Fund 810,429 666,790
Capital Improvements
General Fund 275,760 -
Motor Vehicle Parking System 906,340 -
Total Capital Improvements 1,182,100 -
General Obligation Debt Service Fund
West Evanston Tax Increment District - 300,000
Special Assessment CP Fund 31,766 -
Total General Obligation Debt Service Fund 31,766 300,000
Employer Pension Contribution
Firefighters Pension - 948,553
Police Pension - 1,156,132
Total Employer Pension Contribution - 2,104,685
Nonmajor Governmental Funds
Affordable Housing
General Fund 10,000 -
Neighborhood Stabilization Program 2
General Fund - 3,386
Community Development Block Grant - 78
- 3,464
Economic Development
General Fund - 81,623
Emergency Telephone System
General Fund - 15,869
The outstanding balances between funds result mainly from the time lag between the dates that (1) interfund goods and
services are provided or reimbursable expenditures occur, (2) transactions are recorded in the accounting system, and (3)
payments between funds are made.
-66-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 7. INTERFUNDS - Continued
A. Interfund Accounts - Continued
Due from Due to
Funds Other Funds Other Funds
Nonmajor Governmental Funds - Continued
Home Fund
General Fund -$ 3$
Community Development Block Grant
General Fund - 49,855
Neighborhood Stabilization Program 2 78 -
Special Assessment CP Fund - 3,925
Total Community Development Block Grant 78 53,780
Community Development Loan
General Fund - 1,216
Washington Natl. Tax Increment District Debt Svc.
West Evanston Tax Increment District - 190,000
Howard Ridge Tax Increment District
Southwest Tax Increment District 130,000 -
Howard Hartrey Tax increment District
Special Service District No. 4 100,000 -
Special Service District No. 4
Howard Hartrey Tax Increment District - 100,000
Southwest Tax Increment District
Howard Ridge Tax Increment District - 130,000
West Evanston Tax Increment District
Washington Natl. Tax Increment District Debt Svc.190,000 -
General Obligation Debt Service Fund 300,000 -
490,000 -
Town
General Assistance - 14,689
General Assistance
Town 14,689 -
Special Assessment CP Fund
General Fund 7,541 -
Community Development Block Grant 3,925 -
Water 2,444 -
Debt Service - 31,766
Total Special Assessment 13,910 31,766
Total Nonmajor Governmental Funds 758,677 622,410
Total Governmental Funds 2,782,972 3,693,885
-67-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 7. INTERFUNDS - Continued
A. Interfund Accounts - Continued
Due from Due to
Funds Other Funds Other Funds
Enterprise Funds
Water
General Fund -$ 129,634$
Insurance - -
Special Assessment CP Fund - 2,444
Total Water - 132,078
Sewer
General Fund - 57,827
Motor Vehicle Parking System - 4,000,000
Solid Waste 1,151,945 -
Total Sewer 1,151,945 4,057,827
Solid Waste
General Fund - 360,724
Sewer - 1,151,945
Total Solid Waste - 1,512,669
Motor Vehicle Parking System
General Fund - 72,655
Sewer 4,000,000 -
Capital Improvements - 906,340
Total Motor Vehicle Parking System 4,000,000 978,995
Total Enterprise Funds 5,151,945 6,681,569
Internal Service Funds
Fleet Services
General Fund - 37,637
Insurance
General Fund 115,706 -
Total Internal Service Funds 115,706 37,637
Trust and Agency Funds
Firefighters Pension
Employer Pension Contribution 948,553 -
General Fund 114,834 -
Total Firefighters Pension 1,063,387 -
Police Pension
Employer Pension Contribution 1,156,132 -
General Fund 142,949 -
Total Police Pension 1,299,081 -
Total Trust and Agency Funds 2,362,468 -
Total Primary Government 10,413,091$ 10,413,091$
-68-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 7. INTERFUNDS - Continued
B. Interfund Transfers
At December 31, 2011 transfers in / out consist of the following:
Transfers Transfers
Funds In Out
Governmental Funds
General Fund
Affordable Housing Fund 19,992$ -$
Washington Natl. Tax Increment District Debt Svc.325,000 -
Howard Hartrey Tax Increment District 141,600 -
Southwest Tax Increment District 24,100 -
Capital Improvement Fund 300,000 -
Water Fund 2,737,905 -
Howard Ridge Tax Increment District 120,400 -
Motor Fuel Tax Fund 697,492 -
West Evanston Tax Increment District 50,000 -
General Obligation Debt Service Fund - 676,980
Economic Development 377,256 -
Total General Fund 4,793,745 676,980
Capital Improvements
General Obligation Debt Service Fund - 2,130
General Fund - 300,000
Total Capital Improvement - 302,130
General Obligation Debt Service Fund
General Fund 676,980 -
Neighborhood Stabilization Program 2 1,910 -
Emergency Telephone System 6,370 -
Community Development Block Grant 4,090 -
Economic Development 8,870 -
Special Assessment 317,660 -
Capital Improvement Fund 2,130 -
Fleet Services 21,500 -
Insurance 5,710 -
Sewer - 8,099,352
Total General Obligation Debt Service Fund 1,045,220 8,099,352
Nonmajor Governmental Funds
Affordable Housing Fund
General Fund - 19,992
Community Development Block Grant
General Obligation Debt Service Fund - 4,090
Economic Development
General Obligation Debt Service Fund - 8,870
General Fund - 377,256
- 386,126
Transfers are used to 1) move revenues from the fund with collection authorization to the debt service fund as debt service
principal and interest payments become due, 2) move restricted amounts from borrowings to the debt service fund to establish
mandatory reserve accounts, 3) move restricted general fund revenues to finance various programs that the government must
account for in other funds in accordance with budgetary authorization, including amounts provided as subsidies or matching
funds for various grant programs.
-69-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 7. INTERFUNDS - Continued
B. Interfund Transfers - Continued
Transfers Transfers
Funds In Out
Nonmajor Governmental Funds - Continued
Southwest Tax Increment District
General Fund -$ 24,100$
Howard Hartrey Tax Increment District
General Fund - 141,600
Howard Ridge Tax Increment District
General Fund - 120,400
Washington Natl. Tax Increment District Debt Svc.
General Fund - 325,000
Motor Vehicle Parking System - 3,419,636
Total Washington National Tax Increment District - 3,744,636
West Evanston Tax Increment District
General Fund - 50,000
Emergency Telephone System
General Obligation Debt Service Fund - 6,370
Special Assessment
General Obligation Debt Service Fund - 317,660
Motor Fuel Tax
General Fund - 697,492
Neighborhood Stabilization Program 2
General Obligation Debt Service Fund - 1,910
Total Nonmajor Governmental Funds - 5,514,376
Total Governmental Funds 5,838,965 14,592,838
Enterprise Funds
Water
Insurance - 390,254
General Fund - 2,737,905
- 3,128,159
Sewer
General Obligation Debt Service Fund 8,099,352 -
Motor Vehicle Parking System
Washington Natl. Tax Increment District Debt Svc.3,419,636 -
Total Enterprise Funds 11,518,988 3,128,159
Internal Service Funds
Fleet Services
General Obligation Debt Service Fund - 21,500
Insurance
Water 390,254 -
General Obligation Debt Service Fund - 5,710
390,254 5,710
Total Internal Service Funds 390,254 27,210
Total Primary Government 17,748,207$ 17,748,207$
-70-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 7. INTERFUNDS - Continued
C. Capital Contributions
Capital contributions were made from governmental activities to the business-type activities:
Water Fund (21,349)$
Sewer Fund (37,100)
Solid Waste (155,200)
Motor Vehicle Parking System 2,750
(210,899)$
-71-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 8. Operating Leases
Number of Monthly Annual lease
Leasing Co.Expiration Machines Payment payment Type of Machines
Chicago Office
Technology Group 7/31/2014 9 1,642 16,420$ Copiers
Secap Finance 12/31/2014 1 255 2,550 Postage Machine
Minimum annual lease payments are as follows:
Year ending 12/31/2012 22,764
Year ending 12/31/2013 22,764
Year ending 12/31/2014 14,554
60,082$
The City of Evanston has nine digital office copiers leased from Chicago Office Technology Group.
The copiers are located in the Evanston Civic Center and the Evanston Police headquarter. The City
entered into lease agreement for these copiers during the 2010-11 fiscal year. The lease term is 48
months starting August, 2010.
The City has entered into lease agreement for postage machine during the 2009-10 fiscal year. The
machine is located on the first floor in the Civic Center. The lease term is 60 months with the first
payment made in January, 2010.
-72-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 9. LONG-TERM DEBT
A. Changes in Long-Term Debt
Final
Interest Maturity Balance Balance Due Within
Rate Date 3/1/2011 Issued Reclass Payments 12/31/2011 One Year
G.O. Debt Governmental Activities
Series 2002C 5.00%-5.80% 1/1/2022 2,680,000$ -$ -$ -$ 2,680,000$ 675,000$
Series 2002C (SSA#5)5.00%-5.80% 1/1/2016 1,840,000 - - - 1,840,000 325,000
Series 2003B 2.00%-5.25% 1/1/2023 2,780,000 - - 2,780,000 - -
Series 2004 2.00%-5.00% 12/1/2023 11,855,000 - - 815,000 11,040,000 845,000
Series 2004B 2.00%-5.25% 12/1/2017 5,995,000 - - 1,535,000 4,460,000 1,630,000
Series 2005 3.25%-5.00% 12/1/2025 14,675,000 - - 545,000 14,130,000 750,000
Series 2006 3.85%-5.00% 12/1/2026 9,805,000 - - 125,000 9,680,000 130,000
Series 2006B 4.00%-4.25% 12/1/2023 14,430,000 - - - 14,430,000 -
Series 2007 4.00%-5.00% 12/1/2016 18,685,000 - - 1,150,000 17,535,000 1,185,000
Series 2008A 3.00%-5.00% 12/1/2021 3,410,000 - - 195,000 3,215,000 195,000
Series 2008C 3.00%-5.00% 12/1/2028 9,274,140 - - 361,800 8,912,340 369,840
Series 2008D 3.25%-5.00% 12/1/2016 8,500,000 - - 1,415,000 7,085,000 1,435,000
Series 2010A 2.00%-3.625% 12/1/2029 6,500,000 - - 240,000 6,260,000 300,000
Series 2010B 1.00%-3.30% 12/1/2019 6,893,299 - (210,899) 580,534 6,101,866 613,946
Series 2011A - 15,210,000 - - 15,210,000 1,081,678
Subtotal Governmental Activity G.O. Debt 117,322,439 15,210,000 (210,899) 9,742,334 122,579,206 9,535,464
Capital lease 363,759 - - 363,759 - -
Bonds premium liability 4,118,638 210,176 - 720,230 3,608,584 -
OPEB liability 1,398,143 94,052 - - 1,492,195 -
Pension contributions 20,981,406 10,789,712 - 9,733,452 22,037,666 -
Compensated absences payable- City 10,022,198 2,958,553 - 3,085,581 9,895,170 3,759,175
IMRF Pension contributions 1,223,870 4,019,532 - 2,523,327 2,720,075 -
Claims payable 5,455,203 2,920,373 - 920,030 7,455,546 2,106,361
Subtotal Other G.A. Liabilities 43,563,217 20,992,398 - 17,346,379 47,209,236 5,865,536
Total Governmental Activity Debt & Liabilities 160,885,656$ 36,202,398$ (210,899)$ 27,088,713$ 169,788,442$ 15,401,000$
G.O. Debt Business-type Activities
Series 2005 Sherman Garage 3.25%-5.00%12/1/2025 8,855,000 - - 935,000 7,920,000 975,000
Series 2005 Sewer 3.25%-5.00%12/1/2025 250,000 - - - 250,000 -
Series 2007 Sewer 4.00%-5.00%12/1/2016 3,155,000 - - 1,015,000 2,140,000 1,090,000
Series 2007 Parking 4.00%-5.00%12/1/2016 990,000 - - 115,000 875,000 125,000
Series 2008B Sherman Garage 3.00%-5.00%12/1/2018 15,015,000 - - 1,310,000 13,705,000 1,800,000
Series 2008C Sewer 3.00%-5.00% 12/1/2028 2,260,860 - - 88,200 2,172,660 90,160
Series 2008D Sewer 3.25%-5.00% 12/1/2016 4,580,000 - - 1,760,000 2,820,000 1,875,000
Series 2010B 1.00%-3.30% 12/1/2019 1,106,701 - 210,899 114,466 1,203,134 121,055
Series 2011A - 4,030,000 - - 4,030,000 123,323
Subtotal Business Activity G.O. Debt 36,212,561 4,030,000 210,899 5,337,666 35,115,794 6,199,538
Water Revenue Bond Series 1999 4.125-4.375%1/1/2014 875,000 - - - 875,000 280,000
Water Revenue Bond Series 2002 2.00-3.75%1/1/2012 295,000 - - - 295,000 295,000
Subtotal Water Revenue Bonds 1,170,000 - - - 1,170,000 575,000
IEPA Loans 2.535-3.59%Various 87,059,150 158,893 - 8,136,771 79,081,272 8,705,902
Unamortized bond Premium and discount 12,418 - - 941 11,477 -
Bonds premium liability 880,539 45,283 - 133,143 792,679 -
Compensated absences payable- City 684,019 185,615 - - 869,634 415,163
IMRF Pension contributions 233,118 791,972 - 497,174 527,916 -
OPEB Liability 132,899 41,638 - - 174,537 -
Subtotal Other Business Activity Liabilities 1,942,993 1,064,508 - 631,258 2,376,243 415,163
Total Business Debt & Liabilities 126,384,704$ 5,253,401$ 210,899$ 14,105,695$ 117,743,309$ 15,895,603$
Total Governmental & Business Debt & Liabilities 287,270,360$ 41,455,799$ -$ 41,194,408$ 287,531,751$ 31,296,603$
Note: Employer Pension Contribution Fund has been used to liquidate the net pension obligation. Sewer Fund, Water Fund, Solid Waste, Parking Fund and
General Fund have been used to liquidate IMRF Pension liability. General Fund, Fleet Fund, Water Fund, Parking Fund, Solid Waste Fund and Sewer Funds
have been used to liquidate other post employment benefit obligations.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 9- LONG-TERM DEBT - Continued
A. Changes in Long-term Debt- Continued
Business type activities - Water Revenue Bonds
Revenue debt payable consists of the following:
Date of Final Interest Original
Issue Maturity Rates Indebtedness Balance
1/25/1999 1/1/2014 Various 3,500,000$ 875,000$
10/1/2002 1/1/2012 Various 2,355,000 295,000
Total Business type Activities- Water Revenue Bonds 1,170,000$
Business type activities - IEPA Loans
IEPA loans payable consist of the following:
Date of Final Interest Original
Issue Maturity Rates Indebtedness Balance
Various Various Various 161,827,471$ 79,081,272$
Total Business type Activities- IEPA Loan Debt 79,081,272$
Business type activities revenue bonds are payable from revenues derived from Water service fees. The
City has pledged future revenues, net of operating expenses, to repay original principal totaling
$5,855,000 in revenue bonds issued in 1999 and 2002. Proceeds from the bonds provided financing for
Water CIP projects. The bonds are payable solely from revenues through 2014. Annual interest payment
on the bonds is expected to require $24,672 of net revenues for the ten months ended December 31, 2011.
The total principal and interest remaining to be paid on the bonds is $1,234,047. Principal and interest
paid for the current period totaled $24,672 on customer revenues of $5,131,448.
Business type activities IEPA loans are payable from revenues derived from Sewer and Water service
fees. The City has pledged future revenues, net of operating expenses, to repay principal totaling
$161,827,471 in IEPA loans issued in 1993 through 2011. Proceeds from the loans provided financing for
the Long Term Sewer and Water Improvement Program. The IEPA loans are payable solely from
revenues and are payable through 2030. Annual principal and interest on the loans are expected to require
$10,731,083 of net revenues for the Fiscal year 2012. The total principal and interest remaining to be
paid on the loans is $91,158,220. Principal and interest paid for the current period and total customer net
revenues were $10,269,372 and $9,402,942 respectively.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 9- LONG-TERM DEBT - Continued
B. General Obligation Bonds Payable
Year Ending Governmental Activities Business-type Activities
December 31 Principal Interest Principal Interest
2012 9,535,464$ 5,152,945$ 6,199,538$ 1,632,121$
2013 10,099,093 4,720,259 4,455,906 1,291,281
2014 11,143,358 4,368,658 3,496,643 1,045,744
2015 8,729,385 3,943,155 3,985,615 902,122
2016 9,169,204 3,551,334 4,085,796 738,906
2017-2021 39,026,338 12,536,219 9,458,663 1,436,478
2022-2026 26,784,615 5,010,411 1,800,386 601,666
2027-2031 8,091,749 829,655 1,633,247 200,416
Total 122,579,206$ 40,112,636$ 35,115,794$ 7,848,734$
On August 16, 2010 the City issued taxable Series 2010B in General Obligation bonds for a total of $8,000,000 to
pay the City's obligation to the Illinois Municipal Retirement Fund (IMRF) for the Early Retirement Incentive (ERI)
plan adopted by the City.
The following schedule illustrates the annual debt service requirements to maturity for general obligation bonds.
On August 16, 2010 the City issued Series 2010A in General Obligation bonds for a total of $6,500,000 to pay for
public improvements within the City.
Part of the above Series 2011A General Obligation bonds were issued at a net interest cost of 1.0560% to current
refund the outstanding balance of Series 2003B. This will result in a net cash savings of $123,441 which translates
to a net present value savings of $120,761.
On August 1, 2011 the City issued Series 2011A in General Obligation bonds for a total of $19,240,000. The
Bonds were issued to provide financing for certain public improvement projects and refund certain outstanding
obligations. The Bond issue also included money to deposit into debt service funds of the City's Sewerage System
for purposes of paying certain outstanding obligations on their scheduled payment dates.
The City issues general obligation bonds to provide funds for the acquisition and construction of major capital
facilities. General obligation bonds have been issued for both governmental and business-type activities.
General obligation bonds are direct obligations and pledge the full faith and credit of the City. These bonds
generally are issued as 20-year serial bonds with equal amounts of principal maturing each year.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 9- LONG-TERM DEBT - Continued
C. Special Service District Bonds Payable
For the Fiscal
Year ending Principal Interest
2012 325,000$ 98,231$
2013 340,000 78,816
2014 380,000 57,740
2015 390,000 35,175
2016 405,000 11,873
Total 1,840,000$ 281,835$
D. Revenue Bonds Payable
Revenue bond debt service requirements to maturity are as follows:
For the Fiscal
Year ending Principal Interest
2012 575,000$ 37,688$
2013 290,000 19,688
2014 305,000 6,672
Total 1,170,000$ 64,048$
Business-type Activities
The City also issued revenue bonds where the City pledges income derived from the acquired or constructed assets
to pay debt service. The bonds were issued to finance construction projects related to the water treatment plant.
The City also issued debt in the Special Service District No. 5 fund to provide funds for the principal and interest
payments on unlimited ad valorem tax bonds issued for this special taxing district.
Special Service District bond is included within the total of General Obligation Bonds. Annual debt service
requirements to maturity for special service district bonds are as follows:
Governmental Activities
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 9- LONG-TERM DEBT - Continued
E. Notes Payable -IEPA Loans
Notes payable – IEPA debt service requirements to maturity are as follows:
For the Fiscal
Year ending Principal Interest
2012 8,705,902$ 2,025,181$
2013 8,264,766 1,777,092
2014 7,814,770 1,555,528
2015 7,557,928 1,341,861
2016 7,036,186 1,144,637
2017-2021 26,155,923 3,322,674
2022-2026 11,927,280 880,592
2027-2031 1,618,517 29,384
Total 79,081,272$ 12,076,949$
F. Prior Years' General Obligation Bond Defeasances
Original Outstanding
Amount Amount
G.O. Series Defeased Defeased
2002C 6,480,000$ 6,480,000$
Series Amounts
2002C 2,680,000$
Business-type Activities
During the ten months ended December 31, 2011, the City currently has 27 outstanding loans from the IEPA. The
City will repay the loans solely from revenues derived from the sewer and water system; the loans do not constitute
a full faith and credit obligation of the City. They will be repaid with equal installments consisting of principal plus
simple interest, on unpaid principal balances, over a period of 20 years. Initial principal balances will consist of
disbursements and interest accrued during construction. Repayments begin not later than six months after
completion of construction.
The outstanding balances of Series 2002C not defeased at December 31,2011, are recorded as a liability in the
City’s financial statements. Those balances are as follows:
In 2006, the City defeased a portion of Series 2002C Corporate Purpose bonds, by placing a portion of the proceeds
of Series 2006B in an irrevocable Escrow Account.
The trust account assets and the liabilities for the defeased bonds are not included in the City’s financial statements.
At December 31, 2011, the following remaining outstanding balances are considered defeased:
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 9- LONG-TERM DEBT - Continued
G. Post Employment Benefits other than Pensions (Defined Benefit Plan)
Annual required contribution 931,051$
Interest on net OPEB obligation 57,414
Adjustment to annual required contribution (48,723)
Annual OPEB cost 939,742
Contributions made (804,052)
Increase in net OPEB obligation 135,690
Net OPEB obligation - Beginning 1,531,042
Net OPEB obligation - Ending 1,666,732$
Percentage of
Fiscal Period Annual OPEB Annual OPEB Net OPEB
Ended Cost Cost Contributed Liability
2/28/2010 1,041,981$ 56.75% 1,133,965$
2/28/2011 1,055,264 62.37% 1,531,042
12/31/2011 939,742 85.56% 1,666,732
The following table shows the components of the City of Evanston's annual OPEB cost for the the ten months
ended December 31,2011, the amount actually contributed to the plan and changes in the City's net OPEB
obligation to the retiree health plan.
The City of Evanston's group health insurance plan provides coverage to active employees and retirees (or other
qualified terminated employees) at blended premium rates. This results in an other post employment benefit (OPEB)
for the retirees, commonly referred to as an implicit rate subsidy. The group health insurance plan does not issue a
publicly available financial report.
The City of Evanston's annual OPEB cost, the percentage of annual OPEB cost contributed to the plan and the net
OPEB obligation for 2011 were as follows.
Contribution requirements are established through Illinois State laws. The City of Evanston implicitly contributes
the difference between retiree's contributions and unblended rates. Retirees pay 100%of the blended premiums to
cover themselves and their covered dependents ranging from $490 for single coverage to $1,796 for family
coverage. The city pays 100% of health care premiums for Police officers and Firefighters, their dependents and
their surviving spouses and dependent children if they were injured or killed in the line of duty during an
emergency, ranging from $490 for single coverage to $1,796 for family coverage. For the ten months ended
December 31, 2011, the City's estimated contribution to the plan is $804,052. The City of Evanston's annual other
post employment benefit (OPEB) cost (expense) is calculated based on the annual required contribution of the
employer (ARC), an amount actuarially determined in accordance with parameters of GASB Statement No.45. The
ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each year and
amortize any unfunded actuarial liabilities (or funding excess) over a period not to exceed thirty years.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 9- LONG-TERM DEBT - Continued
G. Post Employment Benefits other than Pensions (Defined Benefit Plan) - Continued
Actuarial accrued liability (AAL)16,994,544$
Actuarial value of plan assets -
Unfunded Actuarial Accrued Liability (UAAL)16,994,544$
Funded ratio (actuarial value of plan assets/AAL)-
Covered payroll (active plan members)48,101,372
UAAL as a percentage of covered payroll 35.33%
In the actuarial valuation as of December 31 2011, the entry age normal cost method was used. The actuarial
assumptions include a 4.50 percent investment rate of return and an annual healthcare cost trend date of 8.50 percent
initially, reduced by decrements to an ultimate rate of 4.50 percent in the year 2020. Both rates include a 3 percent
price inflation assumption. The actuarial value of retiree health plan assets was determined using techniques that
spread the effects of short term volatility in the market value of investments over a three year period. Retiree health
plan's unfunded actuarial accrued liability is being amortized as a level percentage of projected payroll on an open
basis. The amortization period at December 31, 2011, was 30 years.
The funded status of the plan based on the projected valuation results as of December 31st, 2011, was as follows:
Actuarial valuations of an ongoing plan involve estimates for the value of reported amounts and assumptions about
the probability of occurrence of events far into the future. Examples include assumptions about future employment,
mortality and the health care trend. Amounts determined regarding the funded status of the plan and annual required
contributions of the employer are subject to continual revision as actual results are compared with past expectations
and new estimates are made about the future. The schedule of funding progress, presented as required
supplementary information following the notes to the financial statements, presents multiyear trend information that
shows whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial
accrued liabilities for benefits.
Projections of benefits for financial reporting purposes are based on the substantive plan (the plan is understood by
the employer and plan members) and include the types of benefits provided at the time of each valuation and the
historical pattern of sharing benefit costs between the employer and plan members to that point. The 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, consistent with the long-term perspective of calculations.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 10. FUND EQUITY
A. Restrictions of Net Assets - Water Fund
B. Restricted Net Assets - Fiduciary Funds
Fiduciary Funds
Firefighters' Pension Fund Restriction for employee pension benefits 54,893,621$
Police Pension Fund Restriction for employee pension benefits 72,596,264
Total Fiduciary Funds 127,489,885$
Surplus Revenue Account - All revenues remaining after all other credits in the Water Fund have been made
shall be credited to this account and be used for: making up any deficiency necessary to credit prior accounts
with the required amounts; paying principal of, or interest on, any junior lien bonds; transfer to any other
account of the fund; and any lawful corporate purpose, at the discretion of the City Council.
The ordinances authorizing the issuance of the Water revenue bonds provided for the creation of separate
reserve accounts designated as “Bond and Interest Account”, “Bond Reserve Account”, “Depreciation,
Improvement, and Extension Account”, and “Surplus Revenue Account”. Descriptions of each follow:
Bond Reserve Account - The account shall accumulate $145,800 per year until all bonds have been paid or
provision has been made for their payment. The funds shall be retained and used only for payment of Water
Revenue bonds at any time when there are insufficient funds available in the Bond and Interest Account.
Whenever the balance in the account is equal to the maximum principal and interest requirements on all
outstanding bonds for any succeeding fiscal year, the surplus over and above may, in the discretion of the
City Council, be transferred to any other account within the Water Fund of the City.
Depreciation, Improvement, and Extension Account - The account shall accumulate $5,100 per month or a
greater amount as may be designated by the City Council. The monies shall be used first to provide an
adequate allowance for depreciation, and may be used to pay for any extraordinary maintenance, repairs,
and necessary replacements for improvement or extension of the system. The funds may be used at any time
to pay principal of, or interest upon, any outstanding bonds payable whenever there are no other funds
available. If the money on deposit is greater than $400,000, the excess can be transferred to any other
account within the Water Fund. All proceeds received from the disposition of any property shall be credited
to this account.
Bond and Interest Account - All amounts required to be set aside for the purpose of paying principal and
interest of outstanding Water Revenue bonds shall be set aside monthly as directed. In addition, there shall
be credited monthly an amount at least equal to the sum of one-fifth of the interest becoming due on the next
interest payment date and one-tenth of the aggregate yearly amount of principal due on the next principal
maturity date.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 10. FUND EQUITY - Continued
C. Assigned Fund Balances
The following are the assigned fund balances:
General Fund
Assigned for Arts Council 24,797$
Assigned for private elm trees 114,388
Assigned for Dutch elm inoculation 157,216
Assigned for Butterfield sculpture 30,883
Assigned for scholarship contributions 25,953
Assigned for recreation group activities 207,123
Assigned for public library acquisitions 462,686
Assigned for youth initiative 42,151
Assigned for parks and recreation 253,932
Assigned for Chiaravelle escrow 207,402
Assigned for Mayor's programs 87,279
Assigned for IMRF - Pension 2,590,000
Assigned for Compensated Absences 2,576,360
Assigned for Property tax - Library 526,938
Other asssignments 283,124
7,590,232$
Capital Improvement Fund
Assigned for capital projects 5,746,660$
Non-major Governmental Funds
Assigned for economic development 1,382,034$
Assigned for special assessment capital project 2,944,889
4,326,923$
Total Assigned Fund Balances 17,663,815$
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 11. INDIVIDUAL FUND ACTIVITIES
A. General Obligation Debt Service Fund
B. Water Fund
C. Special Service District No. 4
The City usually adopts several resolutions abating portions of the property tax debt service levies. The amount of
property taxes abated is derived from principal and interest payments by private assessments on street paving
projects; additional sewer service fees related to the citywide sewer improvement project; tax increment revenues in
the Southwest, Washington National, and Howard Hartrey Tax Increment Districts; revenues from the Motor Vehicle
Parking System Fund associated with the Maple Garage, Sherman Garage and Church Street Self-Park garage; and
General Obligation Debt Service Fund interest income.
On January 28, 1997, the City executed a long-term water supply contract with the Village of Skokie, Illinois, to
replace an expiring contract. The contract took effect on March 1, 1997 and continues in effect for a period of
twenty years until February 28, 2017. The contract is renewable at ten-year intervals thereafter. Under the terms of
the contract, Evanston is to supply Skokie sufficient potable Lake Michigan water to satisfy the maximum 24-hour
demand for Lake Michigan water of the Village of Skokie system.
The City also provides potable Lake Michigan water to the Northwest Water Commission (NWWC) under a long-
term water supply contract. Sale of potable water under this contract began on February 28, 1985 and continues until
February 28, 2030. Under the terms of the current contract, Evanston is to supply the NWWC sufficient potable
Lake Michigan water to satisfy the Commission’s maximum 24-hour demands for Lake Michigan water for resale to
the Commission’s customers.
On August 13,2007, the City Council adopted Ordinance No. 37-R-07 which extended the life of Special Service
District No. 4 until December 31, 2019. Special Service District No. 4 comprises the central business district of the
City. The special district was established for the purpose of providing funds for special maintenance and repair and
for promotion and advertisement. The annual property tax levy for 2010 was $406,122 which includes a loss & cost
amount of $8,122.
The ordinance also authorized the City to enter into an agreement with DOWNTOWN EVANSTON, an Illinois not-
for-profit corporation to plan, implement, and manage the district.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 12. RISK MANAGEMENT - CLAIMS AND JUDGMENTS
The changes in the balances of claims liabilities during the past two fiscal periods are as follows:
Workers’ General
Compensation Liability Total
February 28, 2010 4,542,080$ 631,288$ 5,173,368
New claims and/or estimate revisions 442,956 1,258,725 1,701,681
Claims payments (1,283,558) (136,288) (1,419,846)
February 28, 2011 3,701,478 1,753,725 5,455,203
New claims and/or estimate revisions 225,374 2,694,999 2,920,373
Claims payments (705,471) (214,559) (920,030)
December 31, 2011 3,221,381$ 4,234,165$ 7,455,546$
Workers' compensation and general liability risks are accounted for in the Insurance Fund. The fund was established
on March 1, 1994 to administer general liability claims and workers' compensation programs on a cost-
reimbursement basis. The fund accounts for the aforementioned liabilities of the City, but does not constitute a
transfer of risk from the City.
The City records estimated liabilities for workers' compensation and for general claims. Claims liabilities are based
on estimates of the ultimate cost of reported claims including future claim adjustment expenses.
The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and
omissions; natural disasters; and injuries to the City's employees. The City maintains commercial all-risk property
insurance to cover damage to City facilities and contents and other losses including business interruption and loss of
rents. The coverage is subject to a deductible of $50,000 for each loss and each location. The City also maintains
crime and fidelity insurance coverage with a $25,000 deductible to a limit of $2,000,000. In addition, coverage is
maintained for ambulance/paramedic liability and dental malpractice.
For workers' compensation, specific excess coverage in excess of $500,000 per occurrence (except $600,000 for
Police, Fire and EMT) is purchased from a commercial insurance company. For general liability claims, the City
retains risk of loss.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 13. CONTINGENCIES
NOTE 14. JOINT VENTURES
A. Solid Waste Agency of Northern Cook County
On March 28, 1988, the Evanston City Council authorized agreements providing for the City's participation in the
Solid Waste Agency of Northern Cook County (Agency) and in the interim financing of that Agency. The Agency
was planned and developed by the Northwest Municipal Conference, of which the City is a member. The agency is
empowered to plan, finance, construct, and operate a solid waste disposal system.
The authority to designate management, influence operations, and formulate budgets rests with the Board of
Directors and Executive Committee. No one member has the ability to significantly influence operations; therefore,
the Agency is not a component unit of any other governmental reporting entity.
The Agency is a municipal joint action agency created as of May 2, 1988 under the provisions of the
Intergovernmental Cooperation Act, 5 ILCS 220/3.2. The Agency consists of twenty-three municipalities. The
Agency is governed by a Board of Directors consisting of one official selected by each member community who
serves a two-year term. Each director has one vote. The Board of Directors determines the general policies of the
Agency. The Executive Committee of the Agency consists of seven persons elected by the Board of Directors. Each
person is entitled to one vote. The Executive Committee may take action not specifically reserved to the Board of
Directors by the Act, the Agency agreement, or the bylaws.
There are various claims and legal actions pending against the City for which provision has been made in the
financial statements. At the present time, the City believes that the reserves established are sufficient so that the
expected liability for these claims and legal actions will not materially exceed the amounts recorded in the financial
statements. 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 the expenditures which may be disallowed by the
grantor cannot be determined at this time although the City expects such amounts, if any, to be immaterial.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 14. JOINT VENTURES – Continued
A. Solid Waste Agency of Northern Cook County - Continued
Summary of Financial Position as of April 30, 2011:
Current assets 6,843,409$
Property, plant, and equipment 11,228,739
Debt issuance costs, net and other assets 66,091
Total assets 18,138,239$
Current liabilities 5,164,235$
Long-term debt, net of unamortized discount 4,788,844
Invested in capital assets, net of related debt 5,319,895
Restricted net assets 2,371,951
Unrestricted net assets 493,314
Total liabilities and fund equity 18,138,239$
Summary of Revenues and Expenses for the Year Ended April 30, 2011:
Total revenues 14,270,755$
Total expenses (14,183,633)
Net income 87,122$
Complete financial statements for the agency can be obtained at 2700 Patriot Blvd., Glenview, IL 60026.
Under the 1992 project use agreement executed by the City with the Agency, the City’s share of project costs,
including debt service and disposal, is based on its share of deliveries to the Wheeling Transfer station for each year.
The City does not control the Agency's fiscal management or operations nor is the City legally responsible for any
more than its share of the Agency's debt or operating deficits, if any.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 14. JOINT VENTURES – Continued
B. Evanston Housing Corporation
Statement of Financial Position as of December 31, 2010:
Cash and cash equivalents 896,163$
Mortgage loans receivable 2,330,841
Total assets 3,227,004
Payables and accrued expenses 163,004
Notes payable 3,064,000
Total liabilities 3,227,004
Net Assets -$
(Note: December 31, 2010 is the most current information available.)
The audited financial statements of Evanston Housing Corporation for the year ended December 31, 2010 are
summarized as follows:
The City of Evanston has advanced $639,000 to the corporation under the notes due on or before November 30,
2034. The notes bear no interest. However, the City is entitled to a certain net sales consideration upon the sale or
exchange of the mortgaged property, as well as a prorated portion of the investment income earned on the funds not
loaned to mortgagees.
The Corporation is governed by a Board of Directors of ten people, four of whom are selected by the City. The
Board has the authority to approve the annual budget and to arrange for the management of the affairs of the
Corporation. The City has no governing authority to influence actions of the Corporation. The City is not liable for
payment of any debts of the Corporation.
The financial institutions' funds are advanced under Non-Recourse Collateral Trust Notes. The notes are payable on
or before November 30, 2029. Interest accrues based on interest earned from the mortgage notes receivable and
investments, less expenses. Interest is paid semiannually to the holders on a pro-rata basis based on the amount of
each note held to the total outstanding notes.
The City agreed to jointly participate with various lending institutions in a not-for-profit housing mortgage
corporation by approval of the City Council on May 22, 1989. The purpose of the corporation is to lend mortgage
funds to qualified, income eligible, first-time homebuyers in the City of Evanston.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 14. JOINT VENTURES – Continued
B. Evanston Housing Corporation - Continued
Statement of Activities for the Year Ended December 31, 2010:
Total revenues 125,449$
Total operating expenses (125,449)
Excess of revenues over expenses -$
(Note: December 31, 2010 is the most current information available.)
NOTE 15. DEFERRED COMPENSATION PLAN
Plan balance at December 31, 2011 37,249,261$
The assets of the plan are held in Trust (ICMA Retirement Corporation Deferred Compensation Plan and Trust),
with the City serving as trustee, for the exclusive benefit of the plan participants and their beneficiaries. The assets
cannot be diverted to any other purpose. The City's beneficial ownership of plan assets held in the ICMA Retirement
Trust is held for the further exclusive benefit of the plan participants and their beneficiaries.
The City of Evanston offers its elected officials and employees a deferred compensation plan created in accordance
with Internal Revenue Code Section 457. The plan is administered by the ICMA Retirement Corporation. The plan,
available to all City employees, permits them to defer a portion of their current salary to all future years. The
deferred compensation is not available to the participants until termination, retirement, death, or an unforeseeable
emergency occurs.
The City provides the Corporation with office space and staff support on a cost reimbursement basis. Complete
financial statements for the Corporation can be obtained in the City's Community Development Department from the
Assistant Director, Housing Rehabilitation and Property Standards.
The City and its agent have no liability for losses under the plan, but do have the duty of care that would be required
of an ordinary prudent investor.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 16. DEFINED BENEFIT PENSION PLANS
Illinois Municipal Retirement Fund
A. Plan Description
In 2010, the Illinois Legislature passed Senate Bill 1946. The Bill modifies benefits for most Illinois public pension
systems, including IMRF's regular plans. The provisions of the bill became effective January 1, 2011. The bill
created a second tier for the employees starting on or after January 1, 2011. As a part of this bill, the vesting time for
the second tier employees has been increased from eight to ten years. The bill also increased the age to receive full
retirement benefits to 67 and reduced retirement benefit to age 62 from the current age of 60 and 55 respectively for
each type of benefit. The final rate of earnings used to calculate a pension is also capped at $106,800 as a part of
pension reforms.
The Employer Pension Contribution Fund is a special revenue fund and uses the modified accrual basis of
accounting. The tax revenues are recognized when measurable and available. The expenditures are recorded when
the liability is incurred.
The City created a special revenue fund, the Employer Pension Contribution Fund, to accommodate the Police and
Fire pension accounting requirements. This fund recognizes the appropriate tax revenues for the City on behalf of
the Pension Trust Funds and contributes those amounts into the Pension Trust Funds as the employer contribution.
Employees participating in IMRF are required to contribute 4.50% of their annual covered salary. The member rate
is established by state statute. The City and Township are required to contribute at an actuarially determined rate.
The City’s rate as of December 2010 was 9.36% of payroll. The employer contribution requirements are established
and may be amended by the IMRF Board of Trustees.
The City maintains two separate single-employer retirement plans established by state statute for the City’s police
officers and firefighters. The City also participates in the Illinois Municipal Retirement Fund (IMRF), a statewide
multiple-employer public employee retirement system which acts as investment and administrative agent. The IMRF
plan covers substantially all of the City’s employees other than police officers and firefighters.
The City and Township’s defined benefit pension plan, IMRF, provides retirement, disability, annual cost of living
adjustments, and death benefits to plan members and beneficiaries. IMRF is an agent multiple employer pension
plan that acts as a common investment and administrative agent for local governments and school districts in Illinois.
The Illinois Pension Code establishes the benefit provisions of the plan that can only be amended by the Illinois
General Assembly. IMRF issues a publicly available financial report that includes financial statements and required
supplementary information. That report may be obtained by writing to the Illinois Municipal Retirement Fund, 2211
York Road, Suite 500, Oak Brook, Illinois 60523, or by accessing their website at
www.imrf.org/pubs/pubs_homepage.htm.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 16. DEFINED BENEFIT PENSION PLANS - Continued
Illinois Municipal Retirement Fund - Continued
B. Funding Status and Progress
C. Annual Pension Cost
Actuarial Percentage
Valuation Annual Pension of APC Net Pension
Date Cost (APC) Contributed Obligation
12/31/11 4,811,504$ 63%3,247,991$
12/31/10 4,914,570 70%1,456,988
12/31/09 2,702,269 100%-
As of December 31, 2011, the most recent actuarial valuation date, the City's Regular plan was 75.54% funded. The
City's actuarial accrued liability for benefits was $86,311,655 and the actuarial value of assets was $65,199,440
resulting in an underfunded actuarial accrued liability (UAAL) of $21,112,215. The covered payroll for the ten
months ended December 31, 2011 (annual payroll of active employees covered by the plan) was $32,270,312 and the
ratio of the UAAL to the covered payroll was 65%.
As of December 31, 2010, the most recent valuation date, the Township's Regular plan was fully funded. The
Township's actuarial accrued liability for benefits was $305,956 and the actuarial value of assets was $331,048
resulting in an overfunding of $25,092. The covered payroll for calendar year 2010 (annual payroll of active
employees covered by the plan) was $334,330.
The schedule of funding progress for the postemployment defined benefit plan immediately following the notes to
the financial statements presents multi-year trend information about whether the actuarial value of plan assets is
increasing or decreasing relative to the actuarial accrued liability for benefits over time.
Three-Year Trend Information for IMRF - City
For December 31, 2011, the employer's actual contributions for pension cost were $3,020,501. Actual required
contributions for calendar year 2011 was $4,811,504. The required contribution was determined as part of the
December 31, 2009 actuarial valuation using the entry age actuarial cost method. The actuarial assumptions
included (a) 7.5% investment rate of return (net of administrative expenses), (b) projected salary increases of 4% a
year, attributable to inflation, (c) additional projected salary increases ranging from 0.4% to 10% per year,
depending on age and service, attributable to seniority/merit, and (d) post-retirement benefit increases of 3%
annually. The actuarial value of IMRF assets was determined using techniques that smooth the effects of short-
term volatility in the market value of investments over a five-year period with a 20% corridor.
The City’s gross total payroll for the calendar ten months ended December 31, 2011 was $51,483,448. Of this
amount, $32,270,312 in payroll earnings were reported to and covered by the IMRF system. The Township’s total
payroll for the year ended December 31, 2010 was $334,330 which were reported to and covered by the IMRF plan.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 16. DEFINED BENEFIT PENSION PLANS – Continued
Illinois Municipal Retirement Fund - Continued
C. Annual Pension Cost - Continued
Actuarial Percentage
Valuation Annual Pension of APC Net Pension
Date Cost (APC) Contributed Obligation
12/31/10 23,203$ 100%-$
12/31/09 12,053 100%-
12/31/08 13,371 100%-
Police and Firefighters' Pension Plans
D. Plan Descriptions
Three-Year Trend Information for IMRF - Township
The Police Pension Plan and Firefighters' Pension Plan are contributory, defined benefit public employee retirement
plans administered by the City and a Board of Trustees for each Fund. All sworn City police officers and firefighters
are participants in the plans. The plans do not issue stand-alone financial reports and they are not included in the
report of a public employee retirement system or another entity. The City's payroll for police and firefighter
employees covered by the plans for the ten months ended December 31, 2011 was $11,502,613 and $7,736,550
respectively.
For December 31, 2010, the Township’s annual pension cost of $23,203 was equal to the Township’s required and
actual contributions. The required contribution was determined as part of the December 31, 2008 actuarial valuation
using the entry age actuarial cost method. The actuarial assumptions included (a) 7.5% investment rate of return (net
of administrative expenses), (b) projected salary increases of 4% a year, attributable to inflation, (c) additional
projected salary increases ranging from 0.4% to 10% per year depending on age and service, attributable to
seniority/merit, and (d) post-retirement benefit increases of 3% annually. The actuarial value of IMRF assets was
determined using techniques that spread the effects of short-term volatility in the market value of investments over a
five-year period with a 20% corridor. The actuarial assumptions used to determine the actuarial accrued liability for
2010 are based on the 2007-2009 experience study.
The schedule of funding progress for the postemployment defined benefit plan immediately following the notes to
the financial statements presents multi-year trend information about whether the actuarial value of plan assets is
increasing or decreasing relative to the actuarial accrued liability for benefits over time.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 16. DEFINED BENEFIT PENSION PLANS – Continued
Police and Firefighters' Pension Plans - Continued
D. Plan Descriptions - Continued
Participation in the plans at December 31, 2011 was:
Police Firefighters'
Retirees, disabled participants, and beneficiaries of 167 138
deceased retirees currently receiving benefits
Active plan members 158 104
Total 325 242
Police Firefighters'
Pension Fund Pension Fund
Actuarial assumptions:
Investment rate of return 7.00% 7.00%
Projected salary increases 4.00% 4.00%
Attributable to inflation 2.50% 2.50%
Cost of Living Increases 3.00% 3.00%
Any police officer or firefighter who has creditable service of 20 years or more, has reached age 50, and is no longer
in the service, is entitled to a yearly pension equal to 50% 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, in the case of a police officer, and at the date of
retirement in the case of a firefighter. The police officer pension is increased by 2.5% of such salary for each
additional year of service over 20 years to a maximum limit of 75% of such salary. The firefighter pension is
increased by 1/12 of 2.5% of such monthly salary for each additional month over 20 years of service through 30
years of service to a maximum of 75% of such monthly salary.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 16. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans - Continued
D. Plan Descriptions – Continued
E. Summary of Significant Accounting Policies
Basis of Accounting
Method Used to Value Investments
A police officer or firefighter who retires or is separated from service after accumulating at least eight years for a
police officer and ten years for a firefighter, but less than 20 years of creditable service, will receive a monthly
pension after attaining the age of 60 based on 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, in the case of a police officer and at the date of retirement or
separation in the case of a firefighter. The amount of the benefit is a tabular percentage of such salary ranging from
15% for 10 years of service to 50% for 20 years of service. These benefit provisions and all other requirements are
established by state statute.
The Police and Firefighters' Pension Fund financial statements are prepared using the accrual basis of accounting.
Plan member contributions are recognized when due. Employer contributions to each plan are recognized when due,
pursuant to formal commitment as well as statutory or contractual requirements. Benefits and refunds are recognized
when due and payable in accordance with the terms of each plan. Administrative cost for Police and Firefighters are
financed by investment income.
Investments are reported at fair value. Short-term investments are reported at cost, which approximates fair value.
Securities traded on a national or international exchange are valued at the last reported sales price at current
exchange rates. Investments that do not have an established market are reported at estimated fair value.
In 2010, the Illinois Legislature passed Senate Bill 1946. This bill modifies benefits for most Illinois public pension
systems, including Police and Fire Pension plans. The provisions of the bill became effective January 1, 2011. The
bill created a second tier for the employees starting on or after January 1, 2011. As a part of the bill, the vesting time
for the second tier police employees has been increased from eight to ten years. The bill also increased the retirement
age from 50 to 55. Accordingly, a police officer or firefighter from the second tier who retires or is separated from
service after accumulating at least ten years for a police officer or a firefighter, but less than 20 years of creditable
service, will receive a monthly pension after attaining the age of 60 based on 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, in the case of a police officer and at
the date of retirement or separation in the case of a firefighter. The amount of the benefit is a tabular percentage of
such salary ranging from 15% for 10 years of service to 50% for 20 years of service. These benefit provisions and
all other requirements are established by state statute.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 16. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans – Continued
F. Contributions and Reserves
Police Firefighters'
Annual required contribution 6,232,478$ 4,468,888$
Interest on net pension obligation 876,109 592,589
Adjustment to annual required contribution (824,950) (555,402)
Annual pension cost 6,283,637 4,506,075
Contributions made (5,366,299) (4,367,153)
Increase (decrease) in net pension obligation 917,338 138,922
Net pension obligation at March 1, 2011 12,515,848 8,465,557
Net pension obligation at December 31, 2011 13,433,186$ 8,604,479$
Employee contribution rates are established by statute at 9.91% of a police officer’s salary and 9.46% of a
firefighter’s salary. Accumulated employee contributions for tier one employees are refunded if an employee leaves
covered employment or dies before 8 years of credited service in the case of police officers and 10 years in the case
of firefighters. But, in case of tier two employees who have started participating in the pension plans on or after
January 1, 2011, contributions will be refunded if an employees leaves covered employment or dies before 10 years
of credited service.
The City’s annual pension cost and net pension obligation to the Police and Firefighters' pension funds were obtained
from the funds' most recent actuarial valuations as of December 31, 2011 are as follows:
The difference between the total amount funded and the amount to be funded, as actuarially determined, is recorded
as the net pension obligation in the general long-term debt schedule. The total pension liability calculated as the net
pension liability dates forward from fiscal year 1987-88.
For employer contributions, the City’s budget policy is to fund pension plans at the funding level recommended
annually by the actuary. The General Fund is used to liquidate the net pension obligation.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 16. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans – Continued
G. Concentration of Investments
H. Five-Year Trend Information – Pension Trust Funds
Fiscal Annual Pension Percentage of Net Pension
Period Ended Cost (APC)APC Contributed Obligation
Police 12/31/11 (10 months)6,283,638$ 85.40% 13,433,187$
2/28/11 8,933,767 91.65% 12,515,848
2/28/10 7,914,901 104.71%10,836,432
2/28/09 7,233,096 115.50%10,495,325
2/29/08 6,789,705 91.52%11,100,974
Firefighters' 12/31/11 (10 months) 4,506,075 96.92%8,604,479
2/28/11 7,216,303 92.18%8,465,557
2/28/10 6,441,073 102.37%7,186,892
2/28/09 5,928,290 115.77%6,814,595
2/29/08 5,575,720 98.27%7,341,644
The Firefighters' Pension Trust Fund had no significant investments (other than U.S. Government and U.S.
Government-guaranteed obligations) in any one organization that represented 5% or more of net assets available for
benefits.
The Police Pension Trust Fund had no significant investments (other than U.S. Government and U.S. Government-
guaranteed obligations) in any one organization that represented 5% or more of net assets available for benefits. The
only exception to the aforementioned is investments in FNMA (10%).
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 16. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans – Continued
I. Pensions - Detailed Statement of Net Assets
Firefighters' Police Total
Pension Pension Pension
Assets
Cash and short-term investments 3,572,681$ 3,211,981$ 6,784,662$
Receivables
Accrued interest 95,038 351,179 446,217
Due from other funds 1,063,387 1,299,081 2,362,468
Total Receivables 1,158,425 1,650,260 2,808,685
Investments, at fair value
Common Stock 12,609,091 23,484,485 36,093,576
U.S. Government and agency obligations 13,458,693 27,897,001 41,355,694
Mutual funds 24,101,512 16,375,844 40,477,356
Total Investments 50,169,296 67,757,330 117,926,626
Total Assets 54,900,402 72,619,571 127,519,973
Liabilities
Vouchers payable 6,781 23,307 30,088
Net assets held in trust for pension benefits 54,893,621$ 72,596,264$ 127,489,885$
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 16. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans – Continued
J. Pensions - Detailed Statement of Changes in Net Assets
Firefighters' Police Total
Pension Pension Pension
Additions
Contributions
Employer 4,367,019$ 5,366,230$ 9,733,249$
Plan members 742,350 1,149,735 1,892,085
Other-Donations, Legal Sett., Surplus Sales 134 69 203
Total Contributions 5,109,503 6,516,034 11,625,537
Investment income
Net appreciation (depreciation) in
fair value of investments 443,976 (1,208,517) (764,541)
Interest 835,335 2,268,478 3,103,813
Total investment income 1,279,311 1,059,961 2,339,272
Less investment expense 169,307 170,765 340,072
Net investment income 1,110,004 889,196 1,999,200
Total Additions 6,219,507 7,405,230 13,624,737
Deductions
Benefits 5,608,851 7,061,270 12,670,121
Refunds of contributions - 128,188 128,188
Administrative expense 75,857 85,022 160,879
Total Deductions 5,684,708 7,274,480 12,959,188
Net increase 534,799 130,750 665,549
Net assets held in trust for pension benefits
Beginning 54,358,822 72,465,514 126,824,336
Ending 54,893,621$ 72,596,264$ 127,489,885$
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Ten Months ended December 31, 2011
NOTE 16. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans – Continued
K. Pensions - Actuarial Valuations
Firefighters' Police
Pension Pension
Fund Fund
Valuation date March 1, 2011 March 1, 2011
Actuarial cost method Entry-Age Normal Entry-Age Normal
Amortization method Level percent Closed Level percent Closed
Remaining amortization period 22 Years , 4 months 22 Years, 4 months
Actuarial valuation method 5-year smoothed mkt. 5-year smoothed mkt.
L. Funding Status and Progress
As of March 1, 2011, the City's Police Pension plan was 45.76% funded. The City's actuarial accrued liability for
benefits was $156,201,256 and the actuarial value of assets was $71,478,229 resulting in an underfunded actuarial
accrued liability (UAAL) of $84,723,027. The covered payroll for the ten months ended December 31, 2011 (annual
payroll of active employees covered by the Police Pension Plan) was $13,803,135 and the ratio of the UAAL to the
covered payroll was 613.80%.
As of March 1, 2011, the City's Fire Pension plan was 45.55% funded. The City's actuarial accrued liability for
benefits was $119,011,406 and the actuarial value of assets was $54,214,525 resulting in an underfunded actuarial
accrued liability (UAAL) of $64,796,881. The covered payroll for the ten months ended December 31, 2011 (annual
payroll of active employees covered by the Fire Pension Plan) was $9,283,861 and the ratio of the UAAL to the
covered payroll was 697.95%.
The information presented in the Notes to the Financial Statements was determined as part of the actuarial valuations
at the dates specified. Additional information as of the latest actuarial valuation follows:
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REQUIRED SUPPLEMENTARY INFORMATION
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CITY OF EVANSTON, ILLINOIS
Firefighters' Pension Fund, Police Pension Fund, Illinois Municipal Retirement Fund and Post Employment Benefits
Schedules of Funding Progress
Required Supplementary Information
UAAL as a
Percentage
Actuarial of Covered
Actuarial Value of Funded Covered Payroll
Valuation Assets Ratio Payroll Under/(Over)
Date (a)(a/b) ( c ) ((b-a)/c)
Firefighters' Pension
3/1/2011 54,214,525$ 119,011,406$ 64,796,881$ 45.55% 7,736,550$ 837.54%
3/1/2010 52,021,778 129,493,139 77,471,361 40.17% 9,133,000 848.26%
3/1/2009 49,410,755 119,852,896 70,442,141 41.23% 9,242,000 762.20%
3/1/2008 47,006,917 111,696,236 64,689,319 42.08% 8,999,000 718.85%
3/1/2007 43,742,297 106,361,853 62,619,556 41.13% 8,402,000 745.29%
3/1/2006 40,653,428 84,413,071 43,759,643 48.16% 8,150,000 536.93%
3/1/2005 38,327,422 78,759,019 40,431,597 48.66% 7,684,000 526.18%
Police Pension
3/1/2011 71,478,229$ 156,201,256$ 84,723,027$ 45.76% 11,502,613$ 736.55%
3/1/2010 68,998,555 166,228,478 97,229,923 41.51% 13,117,000 741.25%
3/1/2009 66,514,296 154,971,310 88,457,014 42.92% 12,632,549 700.23%
3/1/2008 64,355,651 145,458,945 81,103,294 44.24% 12,142,000 667.96%
3/1/2007 61,795,438 139,371,086 77,575,648 44.34% 11,522,000 673.28%
3/1/2006 58,400,853 112,448,880 54,048,027 51.94% 11,195,000 482.79%
3/1/2005 55,269,914 106,426,694 51,156,780 51.93% 10,642,000 480.71%
Illinois Municipal Retirement Fund (City)
12/31/2011 65,199,440$ 86,311,655$ 21,112,215$ 75.54% 32,270,312$ (41.79%)
12/31/2010 61,673,349 80,396,511 18,723,162 76.71% 32,163,415 58.21%)
12/31/2009 50,465,714 79,011,161 28,545,447 63.87% 33,485,370 85.25%)
12/31/2008 44,075,583 72,888,719 28,813,136 60.47% 34,189,216 84.28%)
12/31/2007 88,101,956 84,705,898 (3,396,058) 104.01% 34,496,585 (9.84%)
12/31/2006 87,758,900 82,928,874 (4,830,026) 105.82% 32,625,369 (14.80%)
12/31/2005 82,368,849 79,384,403 (2,984,446) 103.76% 31,403,514 (9.50%)
12/31/2004 77,206,655 74,129,924 (3,076,731) 104.15% 29,568,219 (10.41%)
12/31/2003 76,984,367 70,647,540 (6,336,827) 108.97% 29,240,514 (21.67%)
Illinois Municipal Retirement Fund (Township)
12/31/2010 331,048$ 305,956$ (25,092)$ 108.20% 334,330$ (7.51%)
12/31/2009 476,660 380,918 (95,742) 125.13% 330,215 (28.99%)
12/31/2008 405,691 317,964 (87,727) 127.59% 261,152 (33.59%)
12/31/2007 612,352 360,059 (252,293) 170.07% 338,122 (74.62%)
12/31/2006 514,875 321,366 (193,509) 160.21%344,707 (56.14%)
12/31/2005 413,112 253,244 (159,868) 163.13% 314,044 (50.91%)
12/31/2004 612,303 450,398 (161,905) 135.95% 325,805 (49.69%)
12/31/2003 585,069 429,243 (155,826) 136.30% 345,639 (45.08%)
12/31/2002 810,301 512,878 (297,423) 157.99% 338,707 (87.81%)
Post Employment Benefits other than Pension
12/31/2011 -$ 16,994,544$ 16,994,544$ - 48,101,372$ 35.33%
3/1/2010 - 12,259,348 12,259,348 - 51,896,579 23.62%
3/1/2009 - 11,762,298 11,762,298 - 50,141,622 23.46%
3/1/2008 - 7,634,991 7,634,991 - 50,230,393 15.20%
3/1/2007 - 7,254,074 7,254,074 - 48,531,780 14.95%
Note: See notes to Required Supplementary Information and Auditors' Report.
December 31, 2011
Actuarial Accrued
Liability (AAL)
Projected Unit Credit
(b)
Unfunded
AAL
(UAAL)
(b-a)
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CITY OF EVANSTON, ILLINOIS
Firefighters and Police Pension Funds
Schedules of Employer Contribution
Required Supplementary Information
Annual Annual
Tax Levy Required City's Percentage Required City's Percentage
Year Contribution Contribution Contributed Contribution Contribution Contributed
2011 4,468,888$ 4,367,153$ 97.72% 6,232,638$ 5,366,299$ 86.10%
2010 7,148,759 5,937,637 83.06% 8,831,924 7,254,351 82.14%
2009 5,828,112 5,937,637 101.88% 7,081,620 7,254,351 102.44%
2008 5,486,699 5,217,187 95.09% 6,659,960 6,345,667 95.28%
2007 4,174,271 6,139,178 147.07% 4,636,539 7,717,650 166.45%
2006 3,921,530 3,867,153 98.61% 4,301,359 4,217,457 98.05%
2005 3,317,158 3,459,626 104.29% 4,071,765 4,295,601 105.50%
2004 3,041,911 3,398,340 111.72% 4,274,043 4,271,102 99.93%
2003 2,685,046 2,690,742 100.21% 3,505,934 3,522,862 100.48%
2002 2,355,236 2,374,744 100.83% 3,224,902 3,252,113 100.84%
Note: See notes to Required Supplementary Information and Auditors' Report.
Firefighters' Pension Fund Police Pension Fund
December 31, 2011
-100-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Required Supplementary Information
For the Ten Months ended December 31, 2011
Original &
Final Budget Actual Variance
Revenues
Taxes 35,609,123$ 36,198,119$ 588,996$
Licenses and permits 7,287,309 6,775,866 (511,443)
Intergovernmental 12,729,965 13,364,686 634,721
Charges for services 6,085,856 6,283,196 197,341
Fines 3,806,864 3,279,785 (527,079)
Investment income 12,000 2,073 (9,927)
Miscellaneous 3,548,621 3,276,503 (272,118)
Total Revenues 69,079,737 69,180,228 100,491
Expenditures
General management and support 12,660,474 11,914,893 745,581
Public safety 31,456,425 31,367,067 89,358
Public works 6,862,268 6,339,072 523,196
Health and human resource development 3,078,238 2,887,812 190,426
Recreation and cultural opportunities 16,314,891 15,980,974 333,917
Housing and economic development 2,824,206 2,462,258 361,948
Total Expenditures 73,196,502 70,952,076 2,244,426
(Deficiency) of Revenues (under) Expenditures (4,116,765) (1,771,848) 2,344,917
Other Financing Sources (Uses)
Operating transfers in (out)
West Evanston TIF 50,000 50,000 -
Motor Fuel Tax Fund 697,492 697,492 -
Economic Development Fund 377,256 377,256 -
Housing Fund 19,992 19,992 -
Washington National TIF Debt Service Fund 325,000 325,000 -
Howard Hartrey Debt Service 141,600 141,600 -
Southwest TIF I Debt Service Fund 24,100 24,100 -
Debt Service Fund (676,980) (676,980)-
Howard Ridge TIF 120,400 120,400 -
Capital Improvement Fund 300,000 300,000 -
Water Fund 2,737,905 2,737,905 -
4,116,765 4,116,765 -
Net Change in Fund Balance -$ 2,344,917 2,344,917$
Fund Balance
Beginning 30,039,063
Ending 32,383,980$
Note: See notes to Required Supplementary Information and Auditors' Report.
-101-
CITY OF EVANSTON, ILLINOIS
Notes to the Required Supplementary Information
NOTE 1. DIGEST OF CHANGES - IMRF
The principal changes were:
- For regular members, fewer normal and early retirements are expected to occur.
NOTE 2. CONVERSION FROM GAAP BASIS TO BUDGETARY BASIS
General
Fund
Revenues
GAAP basis revenues as reported in the
Combined Statement of Revenues,
Expenditures, and Changes in Fund Balances 63,224,728$
Increase (decrease) due to budgeting
property taxes as revenue in the year of levy 5,955,500
Budgetary Basis Revenues 69,180,228$
Expenditures
GAAP basis expenditures as reported in the
Combined Statement of Revenues,
Expenditures, and Changes in Fund Balances 70,952,076$
Increase (decrease) due to changes in Emcumbrances -
Budgetary Basis Expenditures 70,952,076$
Note: See Auditors' Report.
The actuarial assumptions used to determine the actuarial accrued liabilityfor 2011 are based on the
2002-2004 Experience Study.
- The 1994 Group Annuity Mortality implemented
Adjustments necessary to convert City revenues and expenditures for the ten months ended
December 31, 2011 on the GAAP basis to the budgetary basis are presented below:
-102-
GOVERNMENTAL FUND TYPES
-103-
City Funds
Affordable Housing - to account for costs associated with housing-related programs of the City.
Community Development Loan - to account for residential rehabilitation loans to residents.
Economic Development - to account for cost associated with economic development activities of the City.
Financing is provided primarily by Hotel Tax revenues.
Emergency Telephone System - to account for revenues and expenditures for 911 emergency telephone service.
Financing is provided by network connection surcharges.
Nonmajor Governmental Funds
Special Revenue Funds
Special revenue funds are used to account for specific revenues that are legally restricted to expenditures for
particular purposes.
Motor Fuel Tax - to account for the operation of street maintenance programs and capital projects as authorized
by the Illinois Department of Transportation. Financing is provided from the City's share of gasoline taxes.
Library Endowment - to account for the activity of the funds donated to the library. These funds are invested at
the direction of the library board and are used for library acquisitions.
Neighborhood Improvement - to account for a portion of the sales tax revenues derived from retail sales of the
Home Depot U.S.A. Inc. store in Evanston. Sales tax revenues allocated to this fund are to be expended on
public projects that will benefit the immediate neighborhood of the store.
Community Development Block Grant - to account for revenues and expenditures of the community block grant
program. Financing is provided by the federal government on a reimbursement basis in accordance with federal
formula. Expenditures are made in accordance with requirements of federal law.
Special Service District No. 4 - to account for promotion, advertisement, and street maintenance costs of the area
located in the City's central business district. Financing is provided by the City through an annual property tax
levy.
HOME - to account for the activity of the HOME program. Financing is provided by the federal government.
Expenditures are made in accordance with the requirements of federal law.
Neighborhood Stabilization Program 2 - funded by the American Recovery and Reinvestment Act of 2009 to
stabilize neighborhoods that have been negatively impacted by high numbers of foreclosed and vacant homes.
Homelessness Prevention and Rapid Re-Housing Program (HPRP) - funded by American Recovery and
Reinvestment Act of 2009 to provide financial assistance and services to either prevent individuals and families
from becoming homeless or help those who are experiencing homelessness to be quickly rehoused and stabilized.
Continued
-104-
Township Funds
Town - to account for general administrative services.
Debt Service funds are used to account for the servicing of general long-term debt.
Washington National Tax Increment District - accumulated monies for the principal and interest payments on
debt issued for this special taxing district.
Howard Ridge Tax Increment District - accumulated monies for the payments on redevelopment project for this
special taxing district.
Special Service District No. 5 - accumulated monies for the principal and interest payments on unlimited ad
valorem tax bonds issued for this special taxing district.
Special Assessment - to account for capital improvements financed by special assessments on property holder and
public benefit contributions from the City.
Capital Projects Funds
Capital projects are used to account for the acquisition and construction of major capital facilities other than those
financed by proprietary funds and trust funds.
West Evanston Tax Increment District - accumulated monies for the payments on redevelopment project for this
special taxing district.
Southwest Tax Increment District - accumulated monies for the principal and interest payments on debt issued for
this special taxing district.
Howard Hartrey Tax Increment District - accumulated monies for the principal and interest payments on debt
issued for this special taxing district.
General Assistance - to account for the assistance given to persons and/or families to meet their basic living
expenses.
Debt Service Funds
Special Revenue Funds - Continued
Concluded
-105-
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Balance Sheet
Special Revenue
Emergency
Motor Economic Telephone Library Neighborhood
Fuel Tax Development System Endowment Improvement
Cash and equivalents 1,043,574$ 1,960,455$ 1,261,007$ 439,220$ 109,915$
Investments - - - 2,594,797 -
Receivables
Property taxes (net of allowance)
Current year levy - - - - -
Notes - - - - -
Allowance - - - - -
Special assessments - - - - -
Accrued interest - - - 9,435 -
Other - 391,816 164,570 - -
Property held for resale - - - - -
Prepaid items - - - - -
Due from other governments 156,670 - - - -
Due from other funds - - - - -
Total Assets 1,200,244$ 2,352,271$ 1,425,577$ 3,043,452$ 109,915$
Liabilities
Vouchers payable -$ 83,039$ 98,950$ -$ -$
Due to other governments - - - - -
Due to other funds - 81,623 15,869 - -
Deferred revenues - - - - -
Total Liabilities - 164,662 114,819 - -
Fund Balances
Nonspendable - - - - -
Restricted
Highway maintenance 1,200,244 - - - -
Emergency telephone system - - 1,310,758 - -
Library projects - - - 3,043,452 -
HUD approved projects - - - - -
Neighborhood improvements - - - - 109,915
Economic Development - - - - -
Debt service - - - - -
Township - - - - -
Committed - 805,575 - - -
Assigned - 1,382,034 - - -
Unassigned - - - - -
Total Fund Balances (Deficit)1,200,244 2,187,609 1,310,758 3,043,452 109,915
Total Liabilities and Fund Balances 1,200,244$ 2,352,271$ 1,425,577$ 3,043,452$ 109,915$
Liabilities and Fund Balances
Assets
December 31, 2011
-106-
Special Revenue
Special
Community Community Neighborhood Service Total
Affordable Development Development Stabilization District City
Housing HOME Block Grant Loan Program 2 No. 4 HPRP Funds
557,524$ 14,246$ 58,905$ 53,521$ 3,222$ 10,091$ -$ 5,511,680$
- - - - - - - 2,594,797
- - - - - 403,472 - 403,472
1,444,162 2,670,863 24,799 2,054,421 - - - 6,194,245
- - (12,000) (78,000) - - - (90,000)
- - - - - - - -
- - - - - - - 9,435
246,831 - - - - - - 803,217
- - 410,000 - - - - 410,000
- - - - - - - -
- 147,707 359,614 - 726,390 - - 1,390,381
10,000 - 78 - - - - 10,078
2,258,517$ 2,832,816$ 841,396$ 2,029,942$ 729,612$ 413,563$ -$ 17,237,305$
-$ 112,195$ 364,817$ 26,386$ 722,926$ -$ -$ 1,408,313$
- - - 260 3,222 - - 3,482
- 3 53,780 1,216 3,464 100,000 - 255,955
- - - - - 374,594 - 374,594
- 112,198 418,597 27,862 729,612 474,594 - 2,042,344
- - - - - - - -
- - - - - - - 1,200,244
- - - - - - - 1,310,758
- - - - - - - 3,043,452
- 2,720,618 422,799 2,002,080 - - - 5,145,497
2,258,517 - - - - - 2,368,432
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - 805,575
- - - - - - - 1,382,034
- - - - - (61,031) - (61,031)
2,258,517 2,720,618 422,799 2,002,080 - (61,031) - 15,194,961
2,258,517$ 2,832,816$ 841,396$ 2,029,942$ 729,612$ 413,563$ -$ 17,237,305$
Continued
-107-
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Balance Sheet - Continued
December 31, 2011 and March 31, 2011 for City and Township respectively
Total Total
General Township Special
Town Assistance Funds Revenue
Cash and equivalents 297,152$ 1,216,667$ 1,513,819$ 7,025,499$
Investments - - - 2,594,797
Receivables
Property taxes (net of allowance)
Current year levy 241,659 814,717 1,056,376 1,459,848
Notes - - - 6,194,245
Allowance - - - (90,000)
Special assessments - - - -
Accrued interest - - - 9,435
Other 11,926 1,368 13,294 816,511
Property held for resale - - - 410,000
Prepaid items - - - -
Due from other governments - - - 1,390,381
Due from other funds - 14,689 14,689 24,767
Total Assets 550,737$ 2,047,441$ 2,598,178$ 19,835,483$
Liabilities
Vouchers payable 98,531$ 42,204$ 140,735$ 1,549,048$
Due to other governments - - - 3,482
Due to other funds 14,689 - 14,689 270,644
Deferred revenues 134,688 472,218 606,906 981,500
Total Liabilities 247,908 514,422 762,330 2,804,674
Fund Balances
Nonspendable - - - -
Restricted
Highway maintenance - - - 1,200,244
Emergency telephone system - - - 1,310,758
Library projects - - - 3,043,452
HUD approved projects - - - 5,145,497
Neighborhood improvements - - - 2,368,432
Economic Development - - - -
Debt service - - - -
Township 302,829 1,533,019 1,835,848 1,835,848
Committed - - - 805,575
Assigned - - - 1,382,034
Unassigned - - - (61,031)
Total Fund Balances (Deficit)302,829 1,533,019 1,835,848 17,030,809
Total Liabilities and Fund Balances 550,737$ 2,047,441$ 2,598,178$ 19,835,483$
Assets
Special Revenue
Liabilities and Fund Balances
-108-
Howard Washington Howard West
Special Southwest Hartrey National Ridge Evanston
Service Tax Tax Tax Tax Tax Total
District Increment Increment Increment Increment Increment Debt
No.5 District District District District District Service
15,660$ 8,119$ 4,900,873$ 7,802,957$ 968,447$ 933,885$ 14,629,941$
- - - - - - -
428,756 451,421 1,212,637 5,077,823 644,407 484,794 8,299,838
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
378,853 - - - - - 378,853
- - - - - - -
- - 100,000 - 130,000 490,000 720,000
823,269$ 459,540$ 6,213,510$ 12,880,780$ 1,742,854$ 1,908,679$ 24,028,632$
-$ -$ -$ -$ 7,184$ 3,000$ 10,184$
- - - - - - -
- 130,000 - 190,000 - - 320,000
375,100 443,623 1,212,637 4,496,432 634,917 410,086 7,572,795
375,100 573,623 1,212,637 4,686,432 642,101 413,086 7,902,979
378,853 - - - - - 378,853
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - 2,841,573 6,100,349 1,100,753 1,495,593 11,538,268
69,316 - 2,159,300 2,093,999 4,322,615
- - - - - - -
- - - - - - -
- - - - - - -
- (114,083) - - - - (114,083)
448,169 (114,083) 5,000,873 8,194,348 1,100,753 1,495,593 16,125,653
823,269$ 459,540$ 6,213,510$ 12,880,780$ 1,742,854$ 1,908,679$ 24,028,632$
Debt Service
Continued
-109-
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Balance Sheet - Continued
Special Total
Assessment Nonmajor
Capital Governmental
Projects Funds
Cash and equivalents 3,120,741$ 24,776,181$
Investments - 2,594,797
Receivables
Property taxes (net of allowance)
Current year levy - 9,759,686
Notes - 6,194,245
Allowance - (90,000)
Special assessments 737,084 737,084
Accrued interest - 9,435
Other - 816,511
Property held for resale - 410,000
Prepaid items - 378,853
Due from other governments - 1,390,381
Due from other funds 13,910 758,677
Total Assets 3,871,735$ 47,735,850$
Liabilities
Vouchers payable 157,996$ 1,717,228$
Due to other governments - 3,482
Due to other funds 31,766 622,410
Deferred revenues 737,084 9,291,379
Total Liabilities 926,846 11,634,499
Fund Balances
Nonspendable - 378,853
Restricted
Highway maintenance - 1,200,244
Emergency telephone system - 1,310,758
Library projects - 3,043,452
HUD approved projects - 5,145,497
Neighborhood improvements - 2,368,432
Economic Development - 11,538,268
Debt service - 4,322,615
Township - 1,835,848
Committed - 805,575
Assigned 2,944,889 4,326,923
Unassigned - (175,114)
Total Fund Balances (Deficit)2,944,889 36,101,351
Total Liabilities and Fund Balances 3,871,735$ 47,735,850$
Assets
December 31, 2011
Liabilities and Fund Balances
Concluded
-110-
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Statements of Revenues, Expenditures, and Changes in Fund Balances
For the Ten Months ended December 31, 2011
Emergency
Motor Economic Telephone Library Neighborhood
Fuel Tax Development System Endowment Improvement
Revenues
Taxes -$ 1,682,505$ 895,430$ -$ 20,000$
Special assessments - - - - -
Intergovernmental 2,195,972 - - - -
Investment income 615 179 296 (28,626) -
SSI reimbursement - - - - -
Medical reimbursement - - - - -
Miscellaneous - - - 31,000 -
Total Revenues 2,196,587 1,682,684 895,726 2,374 20,000
Expenditures
Current
General management and support - - - - -
Public safety - - 973,428 - -
Public works 980,941 - - - -
Health and human resource development - - - - -
Recreation and cultural opportunities - - - 111,000 -
Housing and economic development - 1,532,151 - - -
Debt service
Principal - - - - -
Interest - - - - -
Capital outlay - - - - -
Total Expenditures 980,941 1,532,151 973,428 111,000 -
Excess (Deficiency) of Revenues
Over (Under) Expenditures 1,215,646 150,533 (77,702) (108,626) 20,000
Other Financing Sources (Uses)
Transfers in (out)
General (697,492) (377,256) - - -
General Obligation Debt Service - (8,870) (6,370) - -
Motor Vehicle Parking System - - - - -
Total Other Financing Sources (Uses)(697,492) (386,126) (6,370) - -
Net Change in Fund Balances 518,154 (235,593) (84,072) (108,626) 20,000
Fund Balances (Deficit) - Beginning 682,090 2,423,202 1,394,830 3,152,078 89,915
Fund Balances (Deficit) - Ending 1,200,244$ 2,187,609$ 1,310,758$ 3,043,452$ 109,915$
Special Revenue
-111-
Special
Community Community Neighborhood Service Total
Affordable Development Development Stabilization District City
Housing HOME Block Grant Loan Program 2 No. 4 HPRP Funds
-$ -$ -$ -$ -$ 214,614$ -$ 2,812,549$
- - - - - - - -
- 175,068 1,754,755 4,800 5,409,752 - 195,943 9,736,290
245 6,030 - 1,018 - 30 - (20,213)
- - - - - - - -
- - - - - - - -
33,357 - 5,302 - - - - 69,659
33,602 181,098 1,760,057 5,818 5,409,752 214,644 195,943 12,598,285
- - - - - - - -
- - - - - - - 973,428
- - - - - - - 980,941
- - - - - - - -
- - - - - - - 111,000
54,246 97,011 1,755,967 8,460 5,407,842 388,000 195,943 9,439,620
- - - - - - - -
- - - - - - - -
- - - - - - - -
54,246 97,011 1,755,967 8,460 5,407,842 388,000 195,943 11,504,989
(20,644) 84,087 4,090 (2,642) 1,910 (173,356) - 1,093,296
(19,992) - - - - - - (1,094,740)
- - (4,090) - (1,910) - - (21,240)
- - - - - - - -
(19,992) - (4,090) - (1,910) - - (1,115,980)
(40,636) 84,087 - (2,642) - (173,356) - (22,684)
2,299,153 2,636,531 422,799 2,004,722 - 112,325 - 15,217,645
2,258,517$ 2,720,618$ 422,799$ 2,002,080$ -$ (61,031)$ -$ 15,194,961$
Special Revenue
Continued
-112-
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Statements of Revenues, Expenditures, and Changes in Fund Balances - Continued
For the Ten Months ended December 31, 2011 and Twelve Months ended March 31, 2011
for City and Township respectively
Total Total
General Township Special
Town Assistance Funds Revenue
Revenues
Taxes 299,184$ 978,529$ 1,277,713$ 4,090,262$
Special assessments - - - -
Intergovernmental 62,910 - 62,910 9,799,200
Investment income 352 1,581 1,933 (18,280)
SSI reimbursement - 23,205 23,205 23,205
Medical reimbursement - 2,398 2,398 2,398
Miscellaneous - - - 69,659
Total Revenues 362,446 1,005,713 1,368,159 13,966,444
Expenditures
Current
General management and support 566,824 1,066,729 1,633,553 1,633,553
Public safety - - - 973,428
Public works - - - 980,941
Health and human resource development - - - -
Recreation and cultural opportunities - - - 111,000
Housing and economic development - - - 9,439,620
Debt service
Principal - - - -
Interest - - - -
Capital outlay - - - -
Total Expenditures 566,824 1,066,729 1,633,553 13,138,542
Excess (Deficiency) of Revenues
Over (Under) Expenditures (204,378) (61,016) (265,394) 827,902
Other Financing Sources (Uses)
Transfers in (out)
General - - - (1,094,740)
General Obligation Debt Service - - - (21,240)
Motor Vehicle Parking System - - - -
Total Other Financing Sources (Uses)- - - (1,115,980)
Net Change in Fund Balances (204,378) (61,016) (265,394) (288,078)
Fund Balances (Deficit) - Beginning 507,207 1,594,035 2,101,242 17,318,887
Fund Balances (Deficit) - Ending 302,829$ 1,533,019$ 1,835,848$ 17,030,809$
Special Revenue
-113-
Howard Washington Howard West
Special Southwest Hartrey National Ridge Evanston
Service Tax Tax Tax Tax Tax Total
District Increment Increment Increment Increment Increment Debt
No.5 District District District District District Service
263,566$ 212,489$ 641,140$ 3,326,012$ 479,036$ 352,740$ 5,274,983$
- - - - - - -
- - - - - - -
34 31 1,826 6,708 100 2,285 10,984
- - - - - - -
- - - - - - -
- - - - 17,618 - 17,618
263,600 212,520 642,966 3,332,720 496,754 355,025 5,303,585
- - 1,200 - - - 1,200
- - - - - - -
- - - 108,129 - - 108,129
- 700,000 - - - - 700,000
- - - - - - -
- - - 5,083 27,551 63,875 96,509
- - 570,000 325,000 - - 895,000
53,853 - 141,058 118,200 - - 313,111
- - - - - - -
53,853 700,000 712,258 556,412 27,551 63,875 2,113,949
209,747 (487,480) (69,292) 2,776,308 469,203 291,150 3,189,636
- (24,100) (141,600) (325,000) (120,400) (50,000) (661,100)
- - - - - - -
- - - (3,419,636) - - (3,419,636)
- (24,100) (141,600) (3,744,636) (120,400) (50,000) (4,080,736)
209,747 (511,580) (210,892) (968,328) 348,803 241,150 (891,100)
238,422 397,497 5,211,765 9,162,676 751,950 1,254,443 17,016,753
448,169$ (114,083)$ 5,000,873$ 8,194,348$ 1,100,753$ 1,495,593$ 16,125,653$
Debt Service
Continued
-114-
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Statements of Revenues, Expenditures, and Changes in Fund Balances - Continued
Special Total
Assessment Nonmajor
Capital Governmental
Projects Funds
Revenues
Taxes -$ 9,365,245$
Special assessments 235,028 235,028
Intergovernmental - 9,799,200
Investment income 7,687 391
SSI reimbursement - 23,205
Medical reimbursement - 2,398
Miscellaneous - 87,277
Total Revenues 242,715 19,512,744
Expenditures
Current
General management and support - 1,634,753
Public safety - 973,428
Public works - 1,089,070
Health and human resource development - 700,000
Recreation and cultural opportunities - 111,000
Housing and economic development - 9,536,129
Debt service
Principal - 895,000
Interest - 313,111
Capital outlay 740,120 740,120
Total Expenditures 740,120 15,992,611
Excess (Deficiency) of Revenues
Over (Under) Expenditures (497,405) 3,520,133
Other Financing Sources (Uses)
Transfers in (out)
General - (1,755,840)
General Obligation Debt Service (317,660) (338,900)
Motor Vehicle Parking System - (3,419,636)
Total Other Financing Sources (Uses)(317,660) (5,514,376)
Net Change in Fund Balances (815,065) (1,994,243)
Fund Balances (Deficit) - Beginning 3,759,954 38,095,594
Fund Balances (Deficit) - Ending 2,944,889$ 36,101,351$
For the Ten Months ended December 31, 2011
Concluded
-115-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis)
For the Ten Months ended December 31, 2011
Original
and Final
Budget Actual Variance
Taxes
Property
Current year levy 16,349,600$ 15,915,091$ (434,509)$
Prior year levy 166,600 320,426 153,826
Total Property Taxes 16,516,200 16,235,517 (280,683)
Personal Property Replacement Tax 441,166 438,324 (2,842)
Other Taxes
State Use Tax 677,877 921,494 243,617
Sales Tax - Home Rule 4,552,968 4,902,429 349,461
Auto Rental Tax 29,155 34,004 4,849
Athletic Contest Tax 550,000 718,538 168,538
Fire Insurance Tax 90,000 - (90,000)
Utility Tax 6,982,174 6,375,788 (606,386)
Cigarette Tax 295,284 301,219 5,935
Evanston Motor Fuel Tax 550,378 481,751 (68,627)
Liquor Tax 1,623,754 1,857,121 233,367
Parking Tax 1,800,000 1,942,347 142,347
Real Estate TransferTax 1,500,000 1,989,587 489,587
Amusement Tax 167 - (167)
Total Other Taxes 18,651,757 19,524,278 872,521
Total Taxes 35,609,123 36,198,119 588,996
Continued
-116-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis)
For the Ten Months ended December 31, 2011
Original
and Final
Budget Actual Variance
Licenses and Permits
Vehicle Licenses 1,799,820$ 2,056,523$ 256,703$
Business Licenses 80,000 55,838 (24,162)
Pet Licenses 22,000 40,740 18,740
Contractor Licenses 66,640 68,775 2,135
Rooming House Licenses 193,000 192,396 (604)
Liquor Licenses 300,000 331,352 31,352
One Day Liquor Licenses 5,000 5,518 518
Farmer's Market Licenses 28,000 29,036 1,036
Rental building register 95,000 73,011 (21,989)
Other Licenses 5,000 21,091 16,091
Long Term Care License 20,000 70,740 50,740
Seasonal Food estb - 6,673 6,673
Mobile food vehicle - 4,905 4,905
Hen coop lic - 400 400
Resident Care home License 80 - (80)
Building Permits 2,500,000 1,834,961 (665,039)
Plumbing Permits 135,000 75,923 (59,077)
Electrical Permits 130,000 87,302 (42,698)
Signs and Awnings 8,330 6,392 (1,938)
Other /Misc Permits 183,260 123,259 (60,001)
Elevator Permits 41,650 46,856 5,206
Heating Vent / AC Permits 210,000 246,946 36,946
Right of Way Permits 250,000 383,244 133,244
Residents Parking Permit 110,000 95,822 (14,178)
Visitor Parking Permit 11,912 11,566 (346)
Fire supression / Alarm Permit - 59,356 59,356
Annual Sign Fees 25,000 26,242 1,242
Plat PR. & Sign Approval HRG Fees 2,082 1,320 (762)
Alarm Panel Francise Fee 4,165 6,840 2,675
Northwestern / Centel Easement - 47,000 47,000
Cable Franchise Fee 741,370 730,956 (10,414)
PEG Fees - COMCAST - 34,883 34,883
Nicor Franchise Fee 95,000 - (95,000)
Transfer Station Fee 225,000 - (225,000)
Total Licenses and Permits 7,287,309 6,775,866 (511,443)
Continued
-117-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis)
For the Ten Months ended December 31, 2011
Original
and Final
Budget Actual Variance
Intergovernmental - Revenue from
Other Agencies
Retailer and Service Occupation Tax 7,300,000$ 7,671,007$ 371,007$
State Income Tax 4,635,565 4,924,177 288,612
State Highway Maintenance 54,994 50,138 (4,856)
Health Department Basic Serv. Gran 163,000 76,181 (86,819)
Dental Sealant Grant 1,666 1,494 (172)
Summer Food Inspections 333 600 267
Kid Care Agreement - 1,500 1,500
Illinois Tobacco Free Community 12,500 25,593 13,093
Teen Pregnancy Prevension Grant 50,480 10,200 (40,280)
Childhood Lead Poisoning Grant 250 1,000 750
Teen Parent Services Program 25,490 18,100 (7,390)
Other State / County Grant 118,743 (50,689) (169,432)
Tanning Parlor Inspection 83 200 117
Violence Crime Victim Asst. Grant 18,525 - (18,525)
Fire Department Training 1,500 12,762 11,262
CRI Grant 33,320 35,681 2,361
PHEP Grant 58,310 50,818 (7,492)
Dental Expansion Grant - 70,000 70,000
Dental Reimbursement Prog - 20,546 20,546
Summer Youth 20,000 - (20,000)
Leadbase Paint Control Grant 80,000 - (80,000)
Federal Grant / Aid 10,000 117,641 107,641
Energy Eff. & Consv. - (4,307) (4,307)
Commission on Aging Grant - Advo 30,821 34,692 3,871
Civil Defence Grants (F.E.M.A.) 19,992 172,679 152,687
Police Training 6,664 8,000 1,336
HUD Emergency Shelter Grant 79,729 85,814 6,085
Law Enforcement Block Grant - (14,802) (14,802)
Other Federal Aid 8,000 45,661 37,661
Total Intergovernmental - Revenue
from Other Agencies 12,729,965 13,364,686 634,721
Continued
-118-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis)
For the Ten Months ended December 31, 2011
Original
and Final
Budget Actual Variance
Charges for Services
Recreation
Recreation - program 4,544,253$ 4,525,891$ (18,362)$
Recreation - deferral - 1,625 1,625
Recreation -special events 37,000 28,602 (8,398)
Total Recreation 4,581,253 4,556,118 (25,135)
Library
State Per Capita Grant 62,833 75,971 13,138
Library Video Rental 23,333 31,695 8,362
Non-Residents Card 833 1,461 628
Library Material Replacement Charg 12,500 8,818 (3,682)
Library Miscellaneous Revenues - 21,234 21,234
Library Copy Machines Charges 22,083 17,370 (4,713)
Library Meeting Room Rental 8,333 9,575 1,242
North Branch Rental Inc.29,500 43,000 13,500
Total Library 159,415 209,124 49,709
Charges for Services
Other Service Charges
Birth and Death Records - 5,325 5,325
Sanitation Classes 4,200 1,680 (2,520)
Dental Clinic Fees 108,290 108,076 (214)
Health Clinic Fees - Food Establishm 12,000 133,573 121,573
Dental Check up - 1,875 1,875
Emergency Dental Exam - 40 40
Amalgam Filling - 195 195
Dental Co-Pay - 5 5
Resin Filling - 365 365
Sedative Filling - 10 10
Extraction - 30 30
Pulpotomy - 40 40
Root Canal Payment - 15 15
Sealant Office Visit - 110 110
Additional Sealant - 40 40
Temporary License Fee 6,500 5,775 (725)
Food Delivery Vehicle 100 1,300 1,200
Beverage Snack Vending Machine 200 24,540 24,340
Tobacco License 1,000 10,500 9,500
BeeKeeper License - 100 100
Birth Certificate 66,640 58,426 (8,214)
Dealth Certificate - 16 . 23 57,477 23,292 (34,185)
Funeral Director License 5,498 4,830 (668)
Continued
-119-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis)
For the Ten Months ended December 31, 2011
Original
and Final
Budget Actual Variance
Charges for Services - Continued
Other Service Charges - Continued
Temp Funeral Direct License 4,165$ 4,700$ 535$
Weights & Measures Examinations 833 2,140 1,307
Senior Taxi Coupon Sales 87,465 73,081 (14,384)
Fire Cost Recovery Charge 8,330 2,515 (5,815)
Other Services Charges - 774 774
Historic preservation 5,000 5,446 446
Tree Preservation Revenue - 8,475 8,475
Ambulance Service 820,525 819,367 (1,158)
Towing Charges 2,499 - (2,499)
Police Report Fees 13,328 9,258 (4,070)
Wood Recycling 19,992 35,208 15,216
Zoning Fees 15,000 26,402 11,402
Fire Report Fees - 355 355
Fire Building inspections 6,000 8,013 2,013
Alarm Panel Subscription Fees 46,000 100,408 54,408
Skokie Animal Board Fee 6,248 7,869 1,621
Background Check Daycare Prov.- 490 490
New Pavement Degradation 41,650 27,149 (14,501)
Plan Review 6,248 6,162 (86)
Total Other Service Charges 1,345,188 1,517,954 172,766
Total Charges for Services 6,085,856 6,283,196 197,341
Fines
Ticket Fines - Parking 3,006,667 2,469,554 (537,113)
Regular Fines 274,910 174,236 (100,674)
Boot Release Fee 56,644 48,602 (8,042)
Fire False Alarm Fines 137,445 98,370 (39,075)
Police False Alarm Fines - 20,400 20,400
Housing Code Violation Fines 50,000 100,056 50,056
Permit Penalty Fees 6,248 7,214 966
Administrative Adjudication Fine 124,950 235,042 110,092
Library Fines & Fees 150,000 126,311 (23,689)
Total Fines 3,806,864 3,279,785 (527,079)
Investment Income 12,000 2,073 (9,927)
Continued
-120-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis)
For the Ten Months ended December 31, 2011
Original
and Final
Budget Actual Variance
Miscellaneous
Charges to Other Funds
Recreation restricted accts 73,216$ 66,785$ (6,431)$
HPRP Grant Fund 27,000 18,480 (8,520)
NSP 2 Grant Fund 278,000 103,116 (174,884)
Community Development Fund 772,000 738,067 (33,933)
Home Fund 56,400 40,651 (15,749)
Emergency Telephone System Fund 104,958 104,958 -
Parking Fund 536,868 536,868 -
Sewer Fund 221,578 221,578 -
Total Charges to Other Funds 2,070,020 1,830,503 (239,517)
Miscellaneous
Other Revenues
Women Out Walking - 6,890 6,890
Property Sales and Rentals 117,830 47,218 (70,612)
Donation 52,000 - (52,000)
Damage to City Signage 1,666 - (1,666)
Damage to City traffic Signal 16,660 - (16,660)
Damage to Street Lights 16,660 - (16,660)
Miscellaneous Revenue 46,667 195,779 149,112
Taxicab Revenue 5,831 5,200 (631)
Teen baby nursery 41,000 - (41,000)
Construction Inspection Overtime - 1,600 1,600
Reimbursements - School resource 298,700 `- (298,700)
Reimbursements - Serve & Pro.- 55,946 55,946
Reimbursements - Salt Use - (15,141) (15,141)
Reimbursements - Fire Dept.- 3,834 3,834
Payment in Lieu of Taxes 340,092 51,000 (289,092)
Fund Balance Applied 130,000 - (130,000)
Transfer from Dutch Elm Tree 356,000 356,000 -
Private Elm Trees Ins.43,000 39,870 (3,130)
Fees and Merchandise - 14,182 14,182
Citizens CPR Class Fees - 1,170 1,170
Parking Permits - Ryan Field 12,495 15,131 2,636
Change in Reserves - (97,942) (97,942)
Sale of land - 765,263 765,263
Total Other Revenues 1,478,601 1,446,000 (32,601)
Total Miscellaneous 3,548,621 3,276,503 (272,118)
Total Revenues 69,079,737$ 69,180,228$ 100,491$
Concluded
-121-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Expenditures - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
General Management and Support
City Council 374,718$ 360,089$ 14,629$
City Manager 1,675,952 1,336,449 339,503
City Clerk 148,413 151,872 (3,459)
Law Department 828,120 805,247 22,873
Administrative Services 7,529,508 7,194,908 334,600
Facilities management 2,103,763 2,066,328 37,435
Total General Management and Support 12,660,474 11,914,893 745,581
Public Safety
Police 20,263,642 20,352,407 (88,765)
Fire 11,192,783 11,014,660 178,123
Total Public Safety 31,456,425 31,367,067 89,358
Public Works
Public Works Director 220,634 201,124 19,510
Municipal Service Center 424,329 307,416 116,913
City Engineer 1,227,954 1,174,518 53,436
Traffic Engineer 736,852 674,495 62,357
Streets 4,252,499 3,981,519 270,980
Total Public Works 6,862,268 6,339,072 523,196
For the Ten Months ended December 31, 2011
Continued
-122-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Expenditures - Budget and Actual (Budgetary Basis) - Continued
Original
and Final
Budget Actual Variance
Health and Human Resource Development
Health and Human Services Director 252,537$ 239,128$ 13,409$
Health Department 946,408 954,278 (7,870)
Mental health and community purchased services 936,368 773,371 162,997
Human Relations 942,925 921,035 21,890
Total Health and Human Resource Development 3,078,238 2,887,812 190,426
Recreation and Cultural Opportunities
Library 3,708,359 3,629,768 78,591
Recreation 7,343,164 7,026,281 316,883
Parks and forestry 4,027,351 4,237,759 (210,408)
Ecology Center 411,921 367,666 44,255
Cultural arts 824,096 719,500 104,596
Total Recreation and Cultural Opportunities 16,314,891 15,980,974 333,917
Housing and Economic Development
Community Development administration 155,412 150,340 5,072
Planning and zoning 683,244 636,444 46,800
Housing rehabilitation and
property standards 897,726 761,064 136,662
Building code compliance 1,087,824 914,410 173,414
Total Housing and Economic Development 2,824,206 2,462,258 361,948
Total Expenditures 73,196,502$ 70,952,076$ 2,244,426$
For the Ten Months ended December 31, 2011
Concluded
-123-
CITY OF EVANSTON, ILLINOIS
Motor Fuel Tax Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Revenues
Intergovernmental allotments 1,900,000$ 2,195,972$ 295,972$
Interest 2,000 615 (1,385)
Total Revenues 1,902,000 2,196,587 294,587
Expenditures
Public Works 1,200,000 980,941 219,059
Excess (Deficiency) of Revenues
over (under) Expenditures 702,000 1,215,646 513,646
Other Financing Sources (Uses)
Transfers in (out)
General Fund (697,492) (697,492) -
Net Change in Fund Balance 4,508$ 518,154 513,646$
Fund Balances
Beginning 682,090
Ending 1,200,244$
For the Ten Months ended December 31, 2011
-124-
CITY OF EVANSTON, ILLINOIS
Economic Development Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Revenues
Taxes and Special Assessments 1,650,000$ 1,682,505$ 32,505$
Interest 8,000 179 (7,821)
Total Revenue 1,658,000 1,682,684 24,684
Expenditures
Housing and economic development 1,631,374 1,532,151 99,223
Excess of Revenues
over Expenditures 26,626 150,533 123,907
Other Financing Sources (Uses)
Transfers in (out)
Debt Service (8,873) (8,870) 3
General Fund (377,256) (377,256) -
Net Change in Fund Balance (359,503)$ (235,593) 123,910$
Fund Balances
Beginning 2,423,202
Ending 2,187,609$
For the Ten Months ended December 31, 2011
-125-
CITY OF EVANSTON, ILLINOIS
Emergency Telephone System Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Revenues
Taxes and Special Assessments 865,000$ 895,430$ 30,430$
Interest 750 296 (454)
Total Revenue 865,750 895,726 29,976
Expenditures
Public Safety 1,133,958 979,798 154,160
Net Change in Fund Balance (268,208)$ (84,072) 184,136$
Fund Balance
Beginning 1,394,830
Ending 1,310,758$
For the Ten Months ended December 31, 2011
-126-
CITY OF EVANSTON, ILLINOIS
Neighborhood Improvement
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Revenues
Taxes and Special Assessments 20,000$ 20,000$ -$
Expenditures
Housing and economic development 50,000 - 50,000
Net Change in Fund Balance (30,000)$ 20,000 50,000$
Fund Balances
Beginning 89,915
Ending 109,915$
For the Ten Months ended December 31, 2011
-127-
CITY OF EVANSTON, ILLINOIS
Affordable Housing Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Revenues
Affordable Housing Demo Tax 8,330$ 20,000$ 11,670$
Developer Contributions - 2,000 2,000
Interest 1,000 245 (755)
Miscellaneous 20,000 11,357 (8,643)
Total Revenue 29,330 33,602 4,272
Expenditures
Housing and economic development 248,234 54,246 193,988
Excess of Revenues
over Expenditures (218,904) (20,644) 198,260
Other Financing Sources (Uses)
Transfers in (out)
Debt Service Fund (19,992) (19,992) -
Net Change in Fund Balance (238,896)$ (40,636) 198,260$
Fund Balance
Beginning 2,299,153
Ending 2,258,517$
For the Ten Months ended December 31, 2011
-128-
CITY OF EVANSTON, ILLINOIS
HOME Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Revenues
Intergovernmental allotments 560,000$ 175,068$ (384,932)$
Interest 10,000 6,030 (3,970)
Total Revenue 570,000 181,098 (388,902)
Expenditures
Housing and economic development 513,600 97,011 416,589
Excess (Deficiency) of Revenues
over (under) Expenditures 56,400 84,087 27,687
Other Financing Sources (Uses)
Transfers in (out)
General Fund (56,400) - 56,400
Net Change in Fund Balance -$ 84,087 84,087$
Fund Balance
Beginning 2,636,531
Ending 2,720,618$
For the Ten Months ended December 31, 2011
-129-
CITY OF EVANSTON, ILLINOIS
Community Development Block Grant Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Revenues
Intergovernmental allotments
Grant from the U.S. Department of
Housing and Urban Development 2,008,337$ 1,754,755$ (253,582)$
Miscellaneous - 5,302 5,302
Total Revenues 2,008,337 1,760,057 (248,280)
Expenditures
Housing and economic development 2,004,247 1,755,967 248,280
Excess (Deficiency) of Revenues
over (under) Expenditures 4,090 4,090 -
Other Financing Sources (Uses)
Transfers in (out)
Debt Service (4,090) (4,090) -
Net Change in Fund Balance -$ - -$
Beginning 422,799
Ending 422,799$
For the Ten Months ended December 31, 2011
-130-
CITY OF EVANSTON, ILLINOIS
Community Development Block Grant Fund
Schedule of Expenditures - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Administration/Planning
CDBG Administration 344,587$ 337,872$ 6,715$
Total Administration/Planning 344,587 337,872 6,715
Economic Development
Evanston Community Development Corp.35,000 - 35,000
Technology Innovation Center 25,000 25,000 -
Neighborhood Facade Program 80,000 - 80,000
MBE/Small Business Assistance 2,000 2,000 -
Total Economic Development 142,000 27,000 115,000
Housing
Adaptive Devices - 225 (225)
Housing Code Compliance 415,356 353,733 61,623
Demolition Vacant Lot - 10,902 (10,902)
Housing Rehab Administration 196,317 145,974 50,343
Minor Repairs/Painting Assistance - E.N.A.W.100,000 91,264 8,736
Total Housing 711,673 602,098 109,575
Neighborhood Revitalization
Curb/Sidewalk Replacement WNRSA 142,422 132,188 10,234
Curb/Sidewalk Replacement SNRSA 32,578 26,860 5,718
Curb/Ramp ADA 2008 45,000 45,000 -
ECDC - Evanston Rebuilding Warehouse 50,000 25,000 25,000
F/J 30,000 29,205 795
Graffiti Removal Program 33,049 32,484 565
Handyman Assistance/Elderly Home Repair 14,000 12,126 1,874
Special Assessments/Alley Paving 15,000 8,501 6,499
School Dist. 65 Oakton Playground 6,200 6,200 -
Snap Lighting 40,000 39,942 58
South Evanston Neighborhood Security - 5,100 (5,100)
Total Neighborhood Revitalization 408,249 362,606 45,643
For the Ten Months ended December 31, 2011
Continued
-131-
CITY OF EVANSTON, ILLINOIS
Community Development Block Grant Fund
Schedule of Expenditures - Budget and Actual (Budgetary Basis) - Continued
Original
and Final
Budget Actual Variance
Public Services
Adaptive Equip for Disabled -$ 214$ (214)$
Brummel Park - 50,000 (50,000)
Connections for the Homeless 3,480 3,480 -
Disposition - 1817 Church - 3,369 (3,369)
Evanston Community Defender 32,483 32,483 -
Family Focus 17,394 17,394 -
Family Focus Center Rehab 46,432 46,432 -
Haitian Congress to Fortify Haiti 3,046 3,046 -
Interfaith Action of Evanston 1,960 1,960 -
Interfaith Housing Program/ Home Sharing 12,176 12,176 -
Legal Assist Foundation 7,827 7,827 -
McGaw YMCA 35,000 - 35,000
Meals at Home 11,306 11,306 -
North Shore Senior Center 19,568 19,568 -
Open studio Art 3,480 3,480 -
SRSA Parkway Tree Planting & Landscaping 8,000 1,638 6,362
Summer Youth Employment 60,879 60,879 -
Twiggs Park Improvements 40,000 74,892 (34,892)
West Evanston Strategic Team 4,280 - 4,280
WRSA Parkway Tree Planting & Landscaping 12,000 5,417 6,583
Youth Action Ministry 8,697 - 8,697
Youth Job Center of Evanston 39,290 39,290 -
YWCA Access - 1,100 (1,100)
YWCA Shelter Project 30,440 30,440 -
Total Public Services 397,738 426,391 (28,653)
Total Expenditures 2,004,247$ 1,755,967$ 248,280$
For the Ten Months ended December 31, 2011
Concluded
-132-
CITY OF EVANSTON, ILLINOIS
Community Development Loan
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Revenues
Intergovernmental allotments -$ 4,800$ 4,800$
Interest 9,000 1,018 (7,982)
Total Revenues 9,000 5,818 (3,182)
Expenditures
Housing and economic development 20,000 8,460 11,540
Net Change in Fund Balance (11,000)$ (2,642) 8,358$
Fund Balances
Beginning 2,004,722
Ending 2,002,080$
For the Ten Months ended December 31, 2011
-133-
CITY OF EVANSTON, ILLINOIS
Neighborhood Stabilization Program 2
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Revenues
Intergovernmental allotments 8,387,345$ 5,409,752$ (2,977,593)$
Expenditures
Housing and economic development 8,385,435 5,407,842 2,977,593
Excess (Deficiency) of Revenues
over (under) Expenditures 1,910 1,910 -
Other Financing Sources (Uses)
Transfers in (out)
Debt Service (1,910) (1,910) -
Net Change in Fund Balance -$ - -$
Fund Balances
Beginning -
Ending -$
For the Ten Months ended December 31, 2011
-134-
CITY OF EVANSTON, ILLINOIS
Special Service District No. 4 Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Revenues
Property taxes
Current year levy 378,000$ 398,000$ 20,000$
Prior year levy - (4,001) (4,001)
Interest - 30 30
Total Revenues 378,000 394,029 16,029
Expenditures
Housing and economic development 378,000 388,000 (10,000)
Net Change in Fund Balance -$ 6,029 6,029$
Fund Balance
Beginning 307,532
Ending 313,561$
For the Ten Months ended December 31, 2011
-135-
CITY OF EVANSTON, ILLINOIS
Homeless Prevention & Rapid Re-Housing Program
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Revenues
Intergovernmental allotments 288,460$ 195,943$ (92,517)$
Expenditures
Housing and economic development 288,460 195,943 92,517
Net Change in Fund Balance -$ - -$
Fund Balances
Beginning -
Ending -$
For the Ten Months ended December 31, 2011
-136-
CITY OF EVANSTON, ILLINOIS
Township - Town Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Twelve Months ended March 31, 2011
Original
and Final
Budget Actual Variance
Revenues
Property taxes 295,753$ 299,184$ 3,431$
Interest - 352 352
Replacement tax 50,000 62,910 12,910
Total Revenues 345,753 362,446 16,693
Expenditures
General management and support 668,798 566,824 101,974
Excess (Deficiency) of Revenues
over (under) Expenditures (323,045) (204,378) 118,667
Other Financing Sources (Uses)
Transfers in (out)
General Assistance Fund 350,000 - (350,000)
Net Change in Fund Balance 26,955$ (204,378) (231,333)$
Fund Balance
Beginning 507,207
Ending 302,829$
-137-
CITY OF EVANSTON, ILLINOIS
Township - General Assistance Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
For the Twelve Months ended March 31, 2011
Original
and Final
Budget Actual Variance
Revenues
Property taxes 986,553$ 978,529$ (8,024)$
Interest 1,500 1,581 81
SSI reimbursement 15,000 23,205 8,205
Medical reimbursement - 2,398 2,398
Total Revenues 1,003,053 1,005,713 2,660
Expenditures
General management and support 1,233,748 1,066,729 167,019
Excess (Deficiency) of Revenues
over (under) Expenditures (230,695) (61,016) 169,679
Other Financing Sources (Uses)
Transfers in (out)
Town Fund 250,000 - (250,000)
Net Change in Fund Balance 19,305$ (61,016) (80,321)$
Fund Balance
Beginning 1,594,035
Ending 1,533,019$
-138-
CITY OF EVANSTON, ILLINOIS
Special Assessment Capital Projects Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Revenues
Special Assessments 550,000$ 235,028$ (314,972)$
Interest 25,000 7,687 (17,313)
Total Revenue 575,000 242,715 (332,285)
Expenditures
Capital outlay 1,575,000 740,120 834,880
Total Expenditures 1,575,000 740,120 834,880
Excess (Deficiency) of Revenues
over (under) Expenditures (1,000,000) (497,405) 502,595
Other Financing Sources (Uses)
Transfers in (out)
Debt Service Fund (317,660) (317,660) -
Net Change in Fund Balance (1,317,660)$ (815,065) 502,595$
Fund Balance
Beginning 3,759,954
Ending 2,944,889$
For the Ten Months ended December 31, 2011
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CITY OF EVANSTON, ILLINOIS
Debt Service Funds
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual (Budgetary Basis)
For the Ten Months ended December 31, 2011
Original Original Original Original
and Final and Final and Final and Final
Budget Actual Budget Actual Budget Actual Budget Actual
Revenues
Taxes
Property taxes
Current year levy, net 10,806,574$ 11,863,894$ 428,756$ 428,756$ 656,000$ 451,421$ 1,300,000$ 1,212,637$
Prior year levy, net - (250,064) - (2,847) - - - -
Investment income 1,000 1,637 100 33 500 31 5,000 1,826
Miscellaneous - - - - - - - -
Total Revenues 10,807,574 11,615,467 428,856 425,942 656,500 451,452 1,305,000 1,214,463
Expenditures
General management
and support 5,000 17,528 - - - - 460,000 1,200
Health and human resources
development - - - - 840,000 700,000 - -
Public Works - - - - - - - -
Debt Service
Principal 5,856,800 8,220,464 340,000 325,000 - - 570,000 605,000
Interest 4,012,876 4,660,064 88,756 98,231 - - 141,804 109,603
Fiscal agent fees 83,000 79,156 - - - - - -
Total Expenditures 9,957,676 12,977,212 428,756 423,231 840,000 700,000 1,171,804 715,803
Excess (Deficiency) of Revenues
over (under) Expenditures 849,898 (1,361,745) 100 2,711 (183,500) (248,548) 133,196 498,660
Other Financing Sources (Uses)
Transfers in (out)
General 871,528 727,560 - - (24,100) (24,100) (141,600) (141,600)
Special Assessment 317,660 317,660 - - - - - -
Motor Vehicle Parking System - - - - - - - -
Total Other Financing
Sources (Uses)1,189,188 1,045,220 - - (24,100) (24,100) (141,600) (141,600)
Net Changes in Fund Balances 2,039,086$ (316,525) 100$ 2,711 (207,600)$ (272,648) (8,404)$ 357,060
Fund Balances (Deficit)
Beginning 316,072 18,471 150,764 3,929,210
Ending (453)$ 21,182$ (121,884)$ 4,286,270$
Special
Howard Hartrey TaxGeneralService District Southwest Tax
Increment DistrictIncrement DistrictObligation Debt No. 5
-140-
Original Original Original Original
and Final and Final and Final and Final
Budget Actual Budget Actual Budget Actual Budget Actual
4,800,000$ 5,031,545$ 689,000$ 644,364$ 580,000$ 480,819$ 19,260,330$ 20,113,436$
- 136,883 - 14,907 - 11,146 - (89,975)
25,000 6,708 400 101 1,000 2,285 33,000 12,621
- - - 17,618 - - - 17,618
4,825,000 5,175,136 689,400 676,990 581,000 494,250 19,293,330 20,053,700
- 5,084 - 27,552 490,000 63,875 955,000 115,239
- - - - - - 840,000 700,000
425,000 108,129 - - - - 425,000 108,129
325,000 405,000 - - - - 7,091,800 9,555,464
128,200 100,650 - - - - 4,371,636 4,968,548
- - - - - - 83,000 79,156
878,200 618,863 - 27,552 490,000 63,875 13,766,436 15,526,536
3,946,800 4,556,273 689,400 649,438 91,000 430,375 5,526,894 4,527,165
(325,000) (325,000) (120,400) (120,400) (50,000) (50,000) 210,428 66,460
- - - - - - 317,660 317,660
(3,419,636) (3,419,636) - - - - (3,419,636) (3,419,636)
(3,744,636) (3,744,636) (120,400) (120,400) (50,000) (50,000) (2,891,548) (3,035,516)
202,164$ 811,637 569,000$ 529,038 41,000$ 380,375 2,635,346$ 1,491,648
6,295,670 562,228 1,040,512 12,312,927
7,107,307$ 1,091,266$ 1,420,887$ 13,804,575$
Totals
Washington
National Tax West Evanston Tax
Increment District
Howard Ridge Tax
Increment DistrictIncrement District
-141-
PROPRIETARY FUND TYPES
-142-
CITY OF EVANSTON, ILLINOIS
Water Fund
Schedule of Net Assets
Operation and Bond Depreciation
Maintenance and Bond Improvement
Account Interest Reserve and Extension Totals
Current Assets
Cash and equivalents 6,075,993$ 77,727$ 2,247,604$ 109,599$ 8,510,923$
Restricted cash and equivalents and investments - - 634,375 400,000 1,034,375
Receivables
Accounts - billed 699,514 - - - 699,514
Accounts - unbilled 831,869 - - - 831,869
Due from other funds 738,016 1,170,000 599,672 - 2,507,688
Prepaid Expenses - 599,672 - - 599,672
Inventory 699,003 - - - 699,003
Total Current Assets 9,044,395 1,847,399 3,481,651 509,599 14,883,044
Capital Assets
Land 555,415 - - - 555,415
Construction in progress 208,099 - - 3,810,250 4,018,349
Capital assets being depreciated 78,369,991 - - - 78,369,991
Less accumulated depreciation (21,794,125) - - - (21,794,125)
Total Capital Assets 57,339,380 - - 3,810,250 61,149,630
Total Assets 66,383,775$ 1,847,399$ 3,481,651$ 4,319,849$ 76,032,674$
Current Liabilities
Vouchers payable 379,514$ -$ -$ 644,519$ 1,024,033$
Vouchers payable - restricted 204,266 - - - 204,266
Escrow account 6,000 - - - 6,000
Interest payable - restricted 16,544 24,672 - - 41,216
Revenue bonds payable - 575,000 - - 575,000
Notes payable-IEPA 67,505 - - - 67,505
General obligation bonds payable 169,534 - - - 169,534
Due to other funds 1,398,965 1,240,801 - - 2,639,766
Compensated absences payable 268,007 - - - 268,007
Total Current Liabilities 2,510,335 1,840,473 - 644,519 4,995,327
Long-Term Liabilities
Notes payable-IEPA 1,215,087 - - - 1,215,087
Revenue bonds payable 595,000 - - - 595,000
OPEB liabilty 106,498 - - - 106,498
Compensated absences payable 293,382 - - - 293,382
General obligation bonds payable 3,839,604 - - - 3,839,604
IMRF Pension contributions payable 313,722 - - - 313,722
Unamortized bond discount on bonds payable 47,131 - - - 47,131
Total Long-Term Liabilities 6,410,424 - - - 6,410,424
Total Liabilities 8,920,759 1,840,473 - 644,519 11,405,751
Net Assets
Invested in capital assets, net of related debt 52,110,310 (575,000) - 3,810,250 55,345,560
Restricted for debt service - - 634,375 - 634,375
Restricted for Capital Improvements - - - 400,000 400,000
Unrestricted 5,947,706 (13,074) 2,847,276 (534,920) 8,246,988
Total Net Assets 58,058,016 (588,074) 3,481,651 3,675,330 64,626,923
Total Liabilities and Net Assets 66,978,775$ 1,252,399$ 3,481,651$ 4,319,849$ 76,032,674$
Liabilities and Net Assets
December 31, 2011
Assets
-143-
CITY OF EVANSTON, ILLINOIS
Water Fund
Schedule of Changes in Net Assets - Reserved - Restricted Accounts
Bond Depreciation,
and Bond Improvement
Interest Reserve and Extension Totals
Increases
Intrafund transfers in -
accordance with bond ordinance
unreserved retained earnings -
Operation and Maintenance 100,000$ -$ 4,325,000$ 4,425,000$
Investment earnings 536 4,819 178 5,533
Total Increases 100,536 4,819 4,325,178 4,430,533
Decreases
Bond interest 78,639 - 95,853 174,492
Bond issue adjustment 711,451 - - 711,451
Purchase of capital assets - - 2,150,280 2,150,280
Bond expenses and amortization of discount (69,730) - - (69,730)
Payment of expense 150 - - 150
Total Decreases 720,510 - 2,246,133 2,966,643
Net Increase (Decrease)(619,974) 4,819 2,079,045 1,463,890
Net Assets
Beginning 31,900 3,476,832 1,596,285 5,105,017
Ending (588,074)$ 3,481,651$ 3,675,330$ 6,568,907$
For the Ten Months ended December 31, 2011
-144-
CITY OF EVANSTON, ILLINOIS
Water Fund - Operation and Maintenance Account
(With Comparative Totals For the Twelve Months ended February 28, 2011)
Prior Year
Budget Actual Actual
Operating Revenues
Charges for services 10,504,299$ 10,766,262$ 13,086,057$
Miscellaneous 775,008 1,602,271 651,825
Total Operating Revenues 11,279,307 12,368,533 13,737,882
Operating Expenses Excluding Depreciation
Administration 681,872 786,111 820,136
Operations
Pumping 2,270,869 1,978,311 2,075,791
Filtration 2,138,628 1,923,779 2,170,905
Meter maintenance 320,115 269,115 294,342
Distribution 1,260,167 988,315 1,205,917
Other 335,291 201,021 624,486
Total Operating Expenses Excluding Depreciation 7,006,942 6,146,652 7,191,577
Operating Income Before Depreciation 4,272,365 6,221,881 6,546,305
Depreciation - 1,090,433 1,439,663
Operating Income 4,272,365 5,131,448 5,106,642
Nonoperating Revenues (Expenses)
Investment income 9,996 1,035 2,773
Interest expense - (16,544) (67,615)
Amortization of bond premium - 962 1,129
Net book value of capital assets disposed - (113,237) (13,434)
Total Nonoperating Revenues (Expenses) 9,996 (127,784) (77,147)
Income Before Transfers 4,282,361 5,003,664 5,029,495
Transfers In (Out)
Transfer Out (3,128,159) (3,128,159) (3,286,800)
Total Transfers In (Out)(3,128,159) (3,128,159) (3,286,800)
Net Income 1,154,202$ 1,875,505 1,742,695
Other Changes in Unreserved Net Assets
lntrafund transfers in (out) - net assets -
reserved - restricted accounts (1,563,269) 1,744,885
Increase in Unreserved Net Assets 312,236 3,487,580
Unreserved Net Assets
Beginning 57,745,780 54,258,200
Ending 58,058,016$ 57,745,780$
For the Ten Months ended December 31, 2011
Schedule of Revenues, Expenses, and Changes in Unreserved Net Assets - Budget and Actual
-145-
CITY OF EVANSTON, ILLINOIS
Water Fund - Operation and Maintenance Account
Schedule of Operating Revenues - Budget and Actual
(With Comparative Totals For the Twelve Months ended February 28, 2011)
Prior Year
Budget Actual Actual
Charges for Services, Net
Water Sales
Evanston 4,647,499$ 4,751,615$ 5,419,316$
Skokie 2,286,500 2,304,066 2,885,096
Northwest Water Commission 3,570,300 3,710,581 4,781,645
Total Charges for Services 10,504,299 10,766,262 13,086,057
Miscellaneous
Fees and outside work 146,640 94,184 79,439
Fees, merchandise and other 628,368 1,508,087 572,386
Total Miscellaneous 775,008 1,602,271 651,825
Total Operating Revenues 11,279,307$ 12,368,533$ 13,737,882$
For the Ten Months ended December 31, 2011
-146-
Internal Service Funds
Internal service funds are used to account for the financing of goods or services provided by one department or
agency to other departments or agencies of the government and to other government units, on a cost
reimbursement basis.
Fleet Services Fund - to account for the costs of operating the municipal service center maintenance facility for
transportation equipment used by other City departments. Such costs are billed to the user departments at actual
cost. Actual costs include depreciation on the transportation equipment.
Insurance Fund - to account for the costs of administering general liability claims and workers' compensation
programs. Such costs are billed to the General Fund.
-147-
CITY OF EVANSTON, ILLINOIS
Internal Service Funds
Combining Statement of Net Assets
Fleet Services Insurance Totals
Current Assets
Cash and equivalents 1,984,666$ 741,888$ 2,726,554$
Receivables - other 24,247 - 24,247
Inventories 573,872 - 573,872
Prepaid Expenses 59,615 514,133 573,748
Due from other funds - 115,706 115,706
Total Unrestricted Current Assets 2,642,400 1,371,727 4,014,127
Capital Assets
Cost 21,486,259 - 21,486,259
Accumulated depreciation (15,167,134) - (15,167,134)
Total Capital Assets 6,319,125 - 6,319,125
Total Assets 8,961,525 1,371,727 10,333,252
Liabilities and Fund Equity
Current Liabilities
Vouchers payable 832,478 40,952 873,430
Compensated absences payable 21,524 - 21,524
Claims payable - 2,106,361 2,106,361
Due to other funds 37,637 - 37,637
Total Current Liabilities 891,639 2,147,313 3,038,952
Long-Term Liabilities
Compensated absences payable 73,360 - 73,360
OPEB Liability 37,790 - 37,790
Claims payable - 5,349,185 5,349,185
Total Long-Term Liabilities 111,150 5,349,185 5,460,335
Total Liabilities 1,002,789 7,496,498 8,499,287
Net Assets (Deficit)
Invested in capital assets 6,319,125 - 6,319,125
Unrestricted 1,639,611 (6,124,771) (4,485,160)
Total Net Assets (deficit)7,958,736$ (6,124,771)$ 1,833,965$
December 31, 2011
Assets
-148-
CITY OF EVANSTON, ILLINOIS
Internal Service Funds
Combining Statement of Revenues, Expenses, and Changes in Net Assets
Fleet Services Insurance Totals
Operating Revenues
Charges for Services
General Fund 2,877,887$ 1,851,968$ 4,729,855$
Sewer Fund 650,482 225,080 875,562
Water Fund 162,518 - 162,518
Motor Vehicle Parking System Fund 24,740 266,373 291,113
Emergency Telephone System - 14,540 14,540
Economic Development - 14,540 14,540
Community Development Block Grant - 14,540 14,540
Claims Reimbursements - 77,363 77,363
Health Insurance Contributions - 11,858,304 11,858,304
Miscellaneous 49,169 510 49,679
Total Operating Revenues 3,764,796 14,323,218 18,088,014
Operating Expenses
General support 199,478 - 199,478
Major maintenance 2,529,701 - 2,529,701
General liability claims - 3,006,932 3,006,932
Workers compensation claims - 1,658,870 1,658,870
Health Insurance Premiums - 11,085,987 11,085,987
Other - 143,561 143,561
Total Operating Expenses 2,729,179 15,895,350 18,624,529
Operating Income (Loss) Before Depreciation 1,035,617 (1,572,132) (536,515)
Depreciation 1,106,666 - 1,106,666
Operating Income (Loss)(71,049) (1,572,132) (1,643,181)
Nonoperating Revenues (Expenses)
Investment income 274 313 587
Gain (loss) on disposition of assets 85,109 - 85,109
Total Nonoperating Revenues (Expenses)85,383 313 85,696
Capital contributions & Grants 253,549 - 253,549
Transfers In (Out)
Water Fund - 390,254 390,254
Debt Service (21,500) (5,710) (27,210)
(21,500) 384,544 363,044
Change in Net Assets 246,383 (1,187,275) (940,892)
Total Net Assets (Deficit) - Beginning 7,712,353 (4,937,496) 2,774,857
Total Net Assets (Deficit)- Ending 7,958,736$ (6,124,771)$ 1,833,965$
For the Ten Months ended December 31, 2011
-149-
CITY OF EVANSTON, ILLINOIS
Internal Service Funds
Combining Statement of Cash Flows
Fleet Services Insurance Totals
Cash Flows from Operating Activities
Receipts from customers and users 4,366,296$ 14,323,218$ 18,689,514$
Receipts from (to) interfund services provided (10,655) (262,933) (273,588)
Payments to suppliers (2,203,548) (689,409) (2,892,957)
Payments to employees (178,910) (2,665,459) (2,844,369)
Payments for insurance premiums - (11,085,987) (11,085,987)
Net Cash Provided by (used for) Operating Activities 1,973,183 (380,570) 1,592,613
Cash Flows from Noncapital Financing Activities
Transfers In (Out)
Water - 390,254 390,254
Debt Service (21,500) (5,710) (27,210)
Net Cash Flows from Noncapital Financing Activities (21,500) 384,544 363,044
Cash Flows from Capital and Related Financing Activities
Sale of capital assets 85,109 - 85,109
Acquisition and construction of capital assets (995,043) - (995,043)
Capital contributions 253,549 - 253,549
Net Cash Used for Capital and Related Financing Activities (656,385) - (656,385)
Cash Flows from Investing Activities
Interest income 274 313 587
Net Cash provided by Investing Activities 274 313 587
Net Increase in Cash and Cash Equivalents 1,295,572 4,287 1,299,859
Cash and Equivalents
Beginning 689,094 737,601 1,426,695
Ending 1,984,666$ 741,888$ 2,726,554$
For the Ten Months ended December 31, 2011
Continued
-150-
CITY OF EVANSTON, ILLINOIS
Combining Statement of Cash Flows - Continued
Internal Service Funds
Fleet Services Insurance Totals
Reconciliation of Operating Income to Net Cash
Provided by (Used for) Operating Activities
Operating Income (Loss)(71,049)$ (1,572,132)$ (1,643,181)$
Adjustments to reconcile operating income to
net cash provided by (used for) operating activities
Depreciation 1,106,666 - 1,106,666
Changes in assets and liabilities
Increase/decrease in A/R miscellaneous 601,500 - 601,500
Prepaid expenses - (514,133) (514,133)
Inventories (177,412) - (177,412)
Compensated absences 12,109 - 12,109
OPEB Liability 8,459 - 8,459
Accounts payable 503,565 (31,715) 471,850
lnterfund payable (10,655) (262,933) (273,588)
Claims payable - 2,000,343 2,000,343
Net Cash Provided By (Used For) Operating Activities 1,973,183$ (380,570)$ 1,592,613$
For the Ten Months ended December 31, 2011
Concluded
-151-
STATISTICAL SECTION (UNAUDITED)
-152-
Statistical Section
Contents Page
Financial Trends 154 - 157
Revenue Capacity 158 - 160
Debt Capacity 161 - 164
Demographic and Economic Information 165 - 166
Operating Information 167 - 172
Sources: Unless otherwise noted, the information in these schedules is
derived from the comprehensive annual financial reports for the relevant
year. The Government implemented Statement 34 in 2003; schedules
presenting government-wide information include information beginning in
that year.
These schedules offer demographic and economic indicators to help the
reader understand the environment within the Government's financial
activities take place.
These schedules contain information about the Government's service and
resources to help the reader understand how the Government's financial
information relates to the services the Government provides and the
activities it performs.
This part of the Government's comprehensive annual financial report presents
detailed information as a context for understanding what the information in the
financial statements, note disclosures, and required supplementary information says
about the Government's overall financial health.
These schedules contain trend information to help the reader understand
how the Government's financial performance and well-being have changed
over time.
These schedules contain information to help the reader assess the
Government's most significant local revenue source, the property tax.
These schedules present information to help the reader assess the
affordability of the Government's current levels of outstanding debt and the
Government's ability to issue additional debt in the future.
-153-
CITY OF EVANSTON, ILLINOIS
Net Assets by Component
Last Ten Fiscal Years
(accrual basis of accounting)
(amounts expressed in thousands)
Fiscal Year
As of
2/28/2003 2/29/2004 2/28/2005 2/28/2006 2/28/2007 2/29/2008 2/28/2009 2/28/2010 2/28/2011 12/31/2011
Governmental Activities
Invested in Capital Assets, net of related debt 35,437$ (9,753)$ 426$ 34,428$ 31,133$ 31,542$ 37,278$ 41,109$ 49,483$ 57,663$
Restricted 33,826 33,415 32,811 31,169 30,034 23,168 26,238 23,645 23,187 31,559
Unrestricted (15,245) 32,861 43,010 15,408 25,171 28,231 17,539 10,400 4,072 (24,033)
Total Governmental Activities net assets 54,018$ 56,523$ 76,247$ 81,005$ 86,338$ 82,941$ 81,055$ 75,154$ 76,742$ 65,189$
Business-type Activities
Invested in Capital Assets, net of related debt 96,615$ 103,339$ 114,442$ 129,084$ 140,621$ 159,185$ 172,399$ 192,921$ 207,162$ 215,755$
Restricted 9,491 11,158 11,274 10,449 9,374 1,986 1,987 3,378 1,624 1,034
Unrestricted 18,053 23,332 21,478 23,483 21,417 23,589 27,586 25,417 19,141 25,385
Total Business-type Activities net assets 124,159$ 137,829$ 147,194$ 163,016$ 171,412$ 184,760$ 201,972$ 221,716$ 227,927$ 242,174$
Primary Government
Invested in Capital Assets, net of related debt 132,052$ 93,586$ 114,868$ 163,512$ 171,754$ 190,727$ 209,677$ 234,030$ 256,645$ 273,418$
Restricted 43,317 44,573 44,085 41,618 39,408 25,154 28,225 27,023 24,811 32,593
Unrestricted 2,808 56,193 64,488 38,891 46,588 51,820 45,125 35,817 23,213 1,352
Total Primary Government net assets 178,177$ 194,352$ 223,441$ 244,021$ 257,750$ 267,701$ 283,027$ 296,870$ 304,669$ 307,363$
Source: City Finance department
-154-
CITY OF EVANSTON, ILLINOIS
Changes in Net Assets
Last Ten Fiscal Years
(accrual basis of accounting)
(amounts expressed in thousands)
Fiscal Year Ended
2/28/2003 2/29/2004 2/28/2005 2/28/2006 2/28/2007 2/29/2008 2/28/2009 2/28/2010 2/28/2011 12/31/2011
Expenses
Governmental Activities
General government 14,274$ 15,791$ 14,451$ 19,537$ 19,951$ 20,072$ 18,017$ 19,773$ 17,517$ 17,911$
Public Safety 33,420 39,237 31,168 45,951 46,368 48,763 49,484 50,488 53,226 43,465
Public Works 13,187 13,065 14,225 14,632 16,505 21,566 21,628 18,509 15,626 12,399
Health & Human Resource Development 5,041 5,370 5,843 4,781 6,108 4,982 4,546 4,760 4,541 3,547
Housing & Economic Development 5,818 5,973 6,757 6,850 7,924 7,090 6,965 20,066 10,857 11,630
Culture and Recreation 16,247 17,129 18,276 19,792 18,303 20,634 20,002 9,120 20,142 15,607
Interest on Long-term Debt 4,540 4,900 5,086 5,874 6,926 5,522 4,041 4,396 5,595 3,114
Total governmental activities expenses 92,527 101,465 95,806 117,417 122,085 128,630 124,682 127,112 127,504 107,673
Business-type Activities
Water 11,407 8,992 8,176 8,760 8,778 8,668 9,391 9,133 8,713 7,450
Sewer 8,544 8,964 8,781 9,219 9,588 8,972 8,726 8,779 8,784 7,083
Solid Waste - - - - - - - - - 4,317
Motor vehicle parking system 3,702 3,468 4,777 2,904 2,963 2,403 8,896 8,841 8,425 6,673
Sherman garage - - - - 1,613 4,270 - - - -
Maple avenue garage 2,679 3,028 3,148 3,096 2,910 2,682 - - - -
Total Business-type Activities 26,332 24,452 24,882 23,979 25,852 26,996 27,013 26,753 25,922 25,523
Total primary government expenses 118,859$ 125,917$ 120,688$ 141,396$ 147,937$ 155,625$ 151,695$ 153,865$ 153,426$ 133,196$
Program Revenues
Governmental Activities
Charges for Services
General government 11,704$ 12,750$ 13,262$ 13,060$ 13,630$ 12,639$ 13,348$ 13,087$ 12,796$ 9,219$
Culture and Recreation 3,759 3,739 3,731 4,310 4,353 4,521 4,637 4,902 5,265 4,587
Other activities 4,479 6,799 9,253 10,293 8,779 14,518 10,289 7,946 9,377 8,523
Operating grants and contributions 3,006 3,480 3,713 3,441 3,679 5,982 5,117 5,898 9,851 9,861
Capital Grants and Contributions 1,963 1,459 212 1,127 185 118 113 4,037 8,026 3,941
Total governmental activities program revenues 24,911 28,227 30,171 32,231 30,626 37,778 33,504 35,870 45,315 36,131
Business-type activities
Charges for Services
Water 13,495 13,478 13,187 13,961 12,639 13,239 13,685 12,694 13,738 12,369
Sewer 15,806 15,436 14,913 16,077 14,394 14,239 13,774 13,243 13,393 11,377
Sherman garage - - - - 779 1,950 - - - -
Solid Waste 2,900
Motor vehicle parking system 3,129 3,266 3,011 2,965 3,059 3,084 6,719 6,772 5,987 4,928
Maple avenue garage fund 1,266 1,263 1,512 1,622 1,417 1,430 - - - -
Total Business-type activities program revenues 33,696 33,443 32,623 34,625 32,288 33,941 34,178 32,709 33,118 31,574
Total primary government program revenues 58,607$ 61,670$ 62,794$ 66,856$ 62,914$ 71,719$ 67,682$ 68,579$ 78,433$ 67,705$
Net (expense)/revenue
Governmental activities (67,616) (73,238) (65,635) (85,186) (91,459) (90,852) (91,178) (91,242) (82,189) (71,542)
Business-type activities 7,364 8,991 7,741 10,646 6,436 6,945 7,166 5,956 7,196 6,051
Total Primary Government net expense (60,252) (64,247) (57,894) (74,540) (85,023) (83,906) (84,012) (85,286) (74,993) (65,491)
General Revenues and Other Changes in
Net Assets
Governmental Activities
Taxes
Property taxes 71,719$ 75,929$ 79,715$ 89,810$ 61,983$ 46,947$ 56,217$ 58,839$ 47,040$ 33,399$
Sales taxes 217 345 345 - 14,387 16,172 15,500 14,880 15,577 13,495
Investment earnings 1,266 1,710 1,547 2,997 3,752 3,653 360 721 557 32
Miscellaneous 2,513 2,096 4,996 1,412 17,287 25,799 26,684 24,601 27,501 21,244
Transfers (1,719) (4,335) (1,244) (4,277) (616) (5,116) (9,469) (13,700) (99) (8,180)
Total governmental activities 76,112 75,745 85,359 89,942 96,793 87,455 89,292 85,341 90,576 59,990
Business-type activities
Investment earnings 432 343 380 896 1,344 1,287 606 87 23 16
Miscellaneous - - - - - - (28) - - -
Transfers 1,719 4,335 1,244 4,277 616 5,116 9,469 13,700 99 8,180
Total business-type activities 2,151 4,678 1,624 5,173 1,960 6,403 10,047 13,787 122 8,196
Total primary government 78,263$ 80,423$ 86,983$ 95,115$ 98,753$ 93,858$ 99,338$ 99,128$ 90,698$ 68,186$
Changes in Net Assets
Governmental activities 8,496$ 2,507$ 19,724$ 4,756$ 5,334$ (3,397)$ (1,886)$ (5,901)$ 8,387$ (11,552)$
Business-type activities 9,515 13,669 9,365 15,819 8,396 13,348 17,212 19,743 7,318 14,247
Total primary government 18,011$ 16,176$ 29,089$ 20,575$ 13,730$ 9,951$ 15,326$ 13,842$ 15,705$ 2,695$
Ten months ended December 31, 2011
Source: City Finance department
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CITY OF EVANSTON, ILLINOIS
Fund Balances, Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
(amounts expressed in thousands)
Fiscal Year
As of
2/28/2003 2/29/2004 2/28/2005 2/28/2006 2/28/2007 2/29/2008 2/28/2009 2/28/2010 2/28/2011 12/31/2011
General Fund
Reserved 4,614$ 4,665$ 7,948$ 6,027$ 1,327$ 1,108$ 1,275$ 1,585$ 1,995$ -$
Unreserved 13,110 14,375 15,209 18,804 24,866 24,840 19,752 18,603 20,009 -
Assigned - - - - - - - - - 7,590
Unassigned - - - - - - - - - 10,803
Total general fund 17,724$ 19,040$ 23,157$ 24,831$ 26,193$ 25,948$ 21,027$ 20,188$ 22,004$ 18,393$
All Other Governmental Funds
Reserved 29,211$ 28,750$ 30,761$ 33,937$ 31,741$ 29,739$ 31,757$ 28,953$ 28,738$ -$
Unreserved, reported in
Special revenue funds 60,514 4,617 5,249 5,171 5,587 6,649 10,356 10,807 10,907 -
Capital Projects Funds - 58,816 49,476 31,696 23,965 25,620 20,899 9,276 9,665 -
Nonspendable - - - - - - - - - 1,419
Restricted - - - - - - - - - 32,353
Committed - - - - - - - - - 806
Assigned - - - - - - - - - 10,074
Unassigned - - - - - - - - - (175)
Total all other governmental funds 89,725$ 92,183$ 85,486$ 70,804$ 61,293$ 62,008$ 63,012$ 49,036$ 49,310$ 44,477$
Notes: 1. Fund balances for debt service have been included in the reserved amounts.
2. December 31, 2011 presented per the new reporting standards of GASB 54.
Source: City Finance department
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CITY OF EVANSTON, ILLINOIS
Changes in Fund Balances, Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
(amounts expressed in thousands)
Fiscal Year Ended
2/28/2003 2/29/2004 2/28/2005 2/28/2006 2/28/2007 2/29/2008 2/28/2009 2/28/2010 2/28/2011 12/31/2011
Revenues
Taxes 58,814$ 63,833$ 66,744$ 75,661$ 77,137$ 75,767$ 84,035$ 84,726$ 73,559$ 56,466$
Licenses, fees and permits 6,459 6,699 6,773 9,164 8,061 10,276 8,820 7,279 8,661 6,776
Fines and penalties 3,742 4,163 3,999 3,781 4,029 4,660 4,442 4,151 4,003 3,280
Charges for services 6,262 5,997 6,053 6,905 7,167 7,732 8,399 8,680 9,786 6,283
Special Assessments 208 217 365 546 565 520 516 240 429 235
Intergovernmental 19,116 18,586 21,618 21,106 21,402 22,625 21,013 20,696 26,456 23,183
Investment Earnings 1,255 1,650 1,540 2,970 3,695 3,402 272 714 555 22
Other Revenues 6,859 6,953 9,451 5,812 5,578 5,116 4,679 4,642 6,390 4,133
Total Revenues 102,715 108,098 116,543 125,945 127,634 130,098 132,176 131,128 129,839 100,378
Expenditures
General Government 12,565 13,365 14,666 15,601 14,539 18,190 16,498 16,184 23,463 13,594
Public Safety 32,093 33,896 36,323 39,094 39,690 42,466 49,999 48,970 50,352 42,140
Public Works 10,847 11,119 12,070 13,242 14,282 18,868 18,913 16,062 14,053 7,574
Recreation and cultural opportunities 13,712 14,287 15,493 16,526 16,683 19,118 18,942 18,100 17,399 16,192
Health and Human Development 4,839 5,272 5,801 4,566 5,850 4,982 4,546 4,760 4,541 3,588
Housing and Economic Development 5,662 5,882 6,717 6,646 7,683 7,089 6,963 9,120 11,345 11,999
Pensions 4,209 2,688 1,372 4,628 5,645 - - - - -
Capital Outlay 13,301 9,941 18,208 42,087 18,986 12,416 8,209 7,960 7,112 5,832
Debt Service
Interest 4,846 5,163 5,027 5,857 6,927 5,128 5,143 4,953 4,878 4,384
Fiscal agent fees 359 323 517 42 28 5 12 79
Principal 6,585 9,385 7,885 7,690 11,530 10,815 9,885 7,524 7,650 10,106
Total governmental activities expenditure 108,659 110,998 123,921 156,260 142,332 139,114 139,126 133,638 140,805 115,488
Net (expense)/revenue
Governmental activities (5,944) (2,900) (7,378) (30,315) (14,698) (9,016) (6,950) (2,510) (10,966) (15,110)
Other financing sources (uses)
Proceeds from borrowing 57,066$ 24,917$ 25,724$ 31,332$ 24,916$ 31,444$ 24,340$ -$ 13,393$ 15,420$
Capitalized interest income 773 - - 355 - - 839 - 120 -
Capitalized interest expense (773) - - (355) - - - - - -
Proceeds sale property/other 40 - - - - - - - - -
Reduction in long term debt (100) - - - - - - - - -
Escrow funding (4,072) (12,718) (11,886) (6,626) (14,368) (15,590) (13,280) - - -
Transfers in 8,259 9,762 6,020 7,032 6,529 8,975 5,927 11,019 5,727 5,839
Transfers (out)(9,572) (15,287) (15,062) (14,432) (10,528) (15,344) (14,794) (23,324) (6,184) (14,593)
Total Other financing sources (uses)51,621 6,674 4,796 17,306 6,549 9,485 3,032 (12,305) 13,056 6,666
Net Changes in Fund Balance 45,677$ 3,774$ (2,582)$ (13,009)$ (8,149)$ 469$ (3,917)$ (14,815)$ 2,090$ (8,444)$
Debt Service as a percentage of
noncapital expenditures 11.99% 14.40% 12.21% 11.87% 14.96% 12.58% 11.48% 9.93% 9.36% 13.29%
Note: The largest own-source revenue is the poperty tax with a rate of 1.364% (for the city portion only) of Equalized Assessed Value (EAV) for the tax year 2010 .
Ten months ended December 31, 2011
Source: City Finance department
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CITY OF EVANSTON, ILLINOIS
Equalized Assessed Value and Actual Value of Taxable Property
Last Ten Fiscal Years
Levy Total Total Total
Year Residential Farm Commercial Industrial Railroad Equalized Actual Tax
Ended Property Property Property Property Property Assessed Value Value Rate
2001 1,105,269,184 16,895 459,256,602 50,985,114 311,382 1,615,839,177 4,847,517,531 1.628
2002 1,202,783,327 16,895 467,795,729 66,579,781 368,172 1,737,543,904 5,212,631,712 1.609
2003 1,221,970,442 16,895 435,093,531 69,669,560 397,456 1,727,147,884 5,181,443,652 1.698
2004 1,543,464,138 16,895 479,999,412 71,684,555 446,570 2,095,611,570 6,286,834,710 1.528
2005 1,680,183,692 16,895 500,330,397 61,756,603 465,435 2,242,753,022 6,728,259,066 1.491
2006 1,707,669,215 16,895 476,821,737 60,920,888 464,011 2,245,892,746 6,737,678,238 1.527
2007 2,149,123,958 16,895 560,536,782 62,154,048 508,346 2,772,340,029 8,317,020,087 1.283
2008 2,324,551,100 16,895 560,106,493 53,168,671 554,733 2,938,397,892 8,815,193,676 1.295
2009 2,564,394,619 15,956 615,808,511 125,104,411 665,872 3,305,989,369 9,917,968,107 1.204
2010 Not available Not available Not available Not available 829,769 3,041,884,087 9,125,652,261 1.364
Note:
Source: Cook County Assessor's office
Property is reassessed once every three years. Equalized Assessed value is approximately 1/3 of actual value. Tax rates are per $100 of Equalized assessed value.
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CITY OF EVANSTON, ILLINOIS
Principal Property Taxpayers
Current year and Nine Years Ago
2010 EAV 2001 EAV
Percentage Percentage
Total of Total City Total of Total City
Equalized Assessed Taxable Equalized Assessed Taxable
Tax Payer Value (EAV)Rank EAV Tax Payer Value (EAV)Rank EAV
Grubb & Ellis 26,384,464$ 1 0.87%Golub & Company 21,168,471$ 1 1.24%
Rotary International 22,171,027 2 0.70%Rotary International 16,515,288 2 0.97%
Lowe Enterprises 21,378,083 3 0.65%Church & Chicago Ltd Partnership 11,937,901 3 0.70%
Church Street Plaza 19,787,246 4 0.43%Evanston Plaza Freed 11,376,183 4 0.67%
NNN Church Street Office Center 13,145,431 5 0.42%Albertson's (Jewel & Osco)11,029,194 5 0.64%
Evanston Hotel Assoc.12,892,618 6 0.40%Lynn Minnici 10,122,537 6 0.59%
Inland 12,171,067 7 0.38%The Orrington Hotel 9,608,768 7 0.56%
Church & Chicago Limited Partnership 11,616,218 8 0.38%Presbyterian Homes 9,554,459 8 0.56%
Northshore University Healthcare 11,572,829 9 0.36%1810 Sherman Avenue 9,443,781 9 0.55%
Paradigm Tax Group 10,816,879 10 0.00%St. Francis Hospital 9,374,716 10 0.55%
Total 161,935,862$ 5.32% Total 120,131,298$ 7.02%
Total EAV 3,041,884,087$ Total EAV 1,710,663,113$
Source: Cook County
-159-
CITY OF EVANSTON, ILLINOIS
Property Tax Levies and Collections
Last Ten Years
Tax Taxes Levied Collected Receipts Collections Total Collected to Date
Levy for the Percentage in Subsequent Percentage
Year Fiscal Year Amount of Levy Years Amount of Levy
2002 27,957,126 27,286,591 97.60% 254,154 27,540,745 98.51%
2003 29,813,787 28,565,408 95.81% 365,801 28,931,209 97.04%
2004 32,100,657 30,991,234 96.54% 412,246 31,403,480 97.83%
2005 33,423,311 32,550,464 97.39% 613,876 33,164,340 99.23%
2006 34,399,146 33,249,612 96.66% 437,287 33,686,899 97.93%
2007 35,550,694 34,061,461 95.81% 400,850 34,462,311 96.94%
2008 38,044,671 36,246,629 95.27% 358,214 36,604,843 96.22%
2009 39,779,364 38,018,159 95.57% 464,506 38,482,665 96.74%
2010 41,479,398 39,412,004 95.02% 764,463 40,176,467 96.86%
2011 43,397,590 See Note See Note See Note See Note See Note
Note: Levy Year 2011 is collected beyond fiscal year end 2011 through 12/31/12
Source: City Finance department
-160-
CITY OF EVANSTON, ILLINOIS
Ratio of General Bonded Debt Outstanding
Last Ten Fiscal Years
(2)Net
Gross (3)Net Net General
(1)General Debt Debt Net Debt to Debt to Obligation
Fiscal Equalized Obligation Service Payable General Total Equalized Total Bonded
Year Assessed Bonded Monies From Other Obligation Personal Assessed Personal Debt
Ended Population Valuation Debt Available Revenues Debt Income Valuation Income Per Capita
2/28/2003 74,239 1,710,663,113 194,086,731 6,942,441 123,720,000 63,424,290 2,694,578,744 3.71% 2.35% 854.33
2/29/2004 74,239 1,737,543,904 191,073,334 6,592,437 114,445,000 70,035,897 2,694,578,744 4.03% 2.60% 943.38
2/28/2005 74,239 1,727,147,885 187,110,000 6,678,359 106,935,000 73,496,641 2,775,350,776 4.26% 2.65% 990.00
2/28/2006 74,239 2,095,611,570 195,875,000 6,551,304 110,212,500 79,111,196 2,902,967,617 3.78% 2.73% 1,065.63
2/28/2007 74,239 2,242,753,022 187,745,000 6,504,507 96,780,000 84,460,493 2,902,967,617 3.77% 2.91% 1,137.68
2/29/2008 74,239 2,245,892,746 181,750,000 6,146,567 81,455,000 94,148,433 2,902,967,617 4.19% 3.24% 1,268.18
2/28/2009 74,239 2,772,340,029 171,945,001 7,317,930 62,079,183 102,547,888 2,902,967,617 3.70% 3.53% 1,381.32
2/28/2010 74,239 2,938,397,892 149,315,000 5,989,400 46,882,320 96,443,280 2,902,967,617 3.28% 3.32% 1,299.09
2/28/2011 74,486 3,305,989,369 151,695,000 5,309,064 50,097,260 96,288,676 3,157,759,484 2.91% 3.05% 1,292.71
12/31/2011 74,486 3,041,884,087 155,855,000 2,629,020 47,111,060 106,114,920 3,197,311,550 3.49% 3.32% 1,424.63
Notes: (1)
(2)Excludes limited purpose special service district bonds.
(3)
Source: Cook County and City Finance department
These amounts include the general obligation bonds that are being repaid from the Water Fund, Solid Waste Fund, Sewer Fund, Motor Vehicle Parking System Fund, Howard
Hartrey Tax Increment Tax District Fund, Washington National Tax Increment Tax District Fund, and Special Assessment fund.
Equalized assessed values do not include tax increment financing district incremental equalized assessed values.
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CITY OF EVANSTON, ILLINOIS
Ratio of Outstanding Debt by Type
Last Ten Fiscal Years
Fiscal General Special General Water Total Percentage (1)
Year Obligation Service District Obligation Revenue IEPA Primary of Personal Per
Ended Bonds Bonds Capital Lease Bonds Bonds Loans Government Income Capita
2/28/2003 140,435,000 410,000 15,064 52,970,000 6,185,000 93,559,011 293,574,075 10.89% 3,954
2/29/2004 141,565,000 280,000 - 49,175,000 5,380,000 99,653,404 296,053,404 10.99% 3,988
2/28/2005 143,455,000 3,590,000 - 43,655,000 4,575,000 102,200,011 297,475,011 10.72% 4,007
2/28/2006 158,490,000 3,335,000 - 37,385,000 3,710,000 101,400,675 304,320,675 10.48% 4,099
2/28/2007 110,920,000 3,070,000 - 76,825,000 3,240,000 99,490,921 293,545,921 10.11% 3,954
2/29/2008 115,220,000 2,785,000 - 66,530,000 2,755,000 103,410,887 290,700,887 10.01% 3,916
2/28/2009 115,961,136 2,165,000 1,035,370 55,983,865 2,245,000 101,775,223 279,165,594 9.62% 3,760
2/28/2010 109,078,880 2,155,000 708,552 40,236,120 1,720,000 95,370,544 249,269,096 8.59% 3,358
2/28/2011 115,482,439 1,840,000 363,759 36,212,561 1,170,000 87,059,150 242,127,909 7.67% 3,251
12/31/2011 120,739,206 1,840,000 - 35,115,794 1,170,000 79,081,272 237,946,272 7.44% 3,195
Note:
(1) See the Schedule of Demographics and Economic Statistics on page 166 for personal income and population data.
Details regarding the city's outstanding debt can be found in the notes to the financial statements.
Governmental Activities Business- Type Activities
-162-
Percentage
of Debt City of
Applicable Evanston's
Total to City of Share of Debt
Outstanding Evanston (1)
Direct debt - bonds, notes, and
contracts outstanding 122,579,206$ 100.00% 122,579,206$
Other bonded debt
County of Cook 3,369,965,000$ 1.78% 60,140,664$
Cook County Forest Preserve District 97,810,000 1.78% 1,745,525
Metropolitan Water Reclamation District 2,493,150,090 1.82% 45,422,314
High School District 202 16,276,098 90.42% 14,716,191
School District 65 59,346,000 90.42% 53,658,259
Skokie Park District 7,960,000 0.76% 60,346
Total Overlapping Debt 6,044,507,188$ 175,743,300$
Total Direct and Overlapping Debt 6,167,086,394$ 298,322,506$
Source: Cook County
CITY OF EVANSTON, ILLINOIS
Direct and Overlapping Governmental Activities
As of December 31, 2011
-163-
CITY OF EVANSTON, ILLINOIS
Pledged-Revenue Coverage
Last Ten Fiscal Years
Water Revenue Bonds
Utility Less: Net
Fiscal Year Service Operating Available Debt Service
Ended Charges Expenses Resources Principal Interest Coverage
2/28/2003 13,687,288 9,347,238 4,340,050 2,200,000 343,795 1.71
2/29/2004 13,583,515 7,056,290 6,527,225 805,000 235,913 6.27
2/28/2005 13,338,642 6,395,231 6,943,411 805,000 206,575 6.86
2/28/2006 14,380,966 6,705,865 7,675,101 865,000 177,355 7.36
2/28/2007 13,196,942 6,900,063 6,296,879 470,000 145,088 10.24
2/29/2008 13,787,014 7,138,056 6,648,959 485,000 128,713 10.83
2/28/2009 13,878,833 7,866,909 6,011,924 510,000 110,913 9.68
2/28/2010 12,742,603 7,756,760 4,985,843 525,000 91,556 8.09
2/28/2011 13,752,681 7,191,577 6,561,104 550,000 71,269 10.56
12/31/2011 12,368,533 6,146,652 6,221,881 - 24,672 252.18
Note:
Ten months ended December 31, 2011
Source: Various City departments
Detail regarding the city's outstanding debt can be found in the notes to the financial statements.
Operating expenses do not include interest, depreciation, or amortization expense.
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-164-
CITY OF EVANSTON, ILLINOIS
Demographic and Economic Statistics
Last Ten Years
Per Education
Total Capita % of population
Calendar Personal Personal Median with HS Diploma School Unemployment
Year Population Income Income Age or Higher Enrollment Rate
2002 74,239 2,497,771,155$ 33,645$ 32.5 91.3% 10,889.0 5.0%
2003 74,239 2,694,578,744 36,296 32.5 91.3%9,766.0 5.4%
2004 74,239 2,694,578,744 36,296 32.5 91.3%9,849.0 5.0%
2005 74,239 2,775,350,776 37,384 32.5 94.0%9,740.0 5.0%
2006 74,239 2,902,967,617 39,103 32.5 94.0%9,550.0 4.5%
2007 74,239 2,902,967,617 39,103 32.5 94.0%9,550.0 4.4%
2008 74,239 2,902,967,617 39,103 32.5 94.0%9,550.0 4.6%
2009 74,239 2,902,967,617 39,103 32.5 94.0%9,550.0 4.7%
2010 74,486 3,157,759,484 42,394 34.3 94.0%9,550.0 7.9%
2011 74,486 3,197,311,550 42,925 34.3 94.0% 11,369.0 7.3%
Source: Various Government agencies
-165-
CITY OF EVANSTON, ILLINOIS
Principal Employers
Current Year and Ten Years Ago
Employer Employees %Rank Employer Employees %Rank
Northwestern University 9,471 48% 1 Northwestern University 5,325 36% 1
Northshore University Healthcare 3,727 19% 2 Evanston Northwestern Healthcare 3,780 25% 2
Evanston School District 65 1,599 8% 3 St. Francis Hospital 1,649 11% 3
St. Francis Hospital 1,272 7% 4 City of Evanston 1,000 7% 4
City of Evanston 918 5% 5 Evanston School District 65 700 5% 5
Presbyterian Homes/McGaw Care 602 3% 6 Evanston Township High School 566 4% 6
Rotary International 520 3% 7 Presbyterian Homes/McGaw Care 533 4% 7
School district 202 525 3% 8 Shure, Inc. 510 3% 8
C.E. Neihoff & Co. 480 2% 9 Jewel / Osco Food Stores 455 3% 9
Mather Lifeways 450 2% 10 Mather Lifeways 430 3% 10
Total 19,564 Orrington Hotel 14,948
Source: City Economic Development Division
2011 2001
-166-
CITY OF EVANSTON, ILLINOIS
Full-time Equivalent City Government Employees by Function
Last Ten Fiscal Years
Fiscal Year Ended
2/28/2003 2/29/2004 2/28/2005 2/28/2006 2/28/2007 2/29/2008 2/28/2009 2/28/2010 2/28/2011 12/31/2011
Function/Program
General Government
City Clerk 3.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 3.00
City Manager's Office 7.55 7.25 7.25 7.25 7.25 13.70 31.53 27.70 22.00 8.00
MBIS / IT 21.50 21.80 22.80 24.80 23.80 25.50 - - 13.00 12.00
Legal 6.00 6.00 7.00 7.00 7.00 7.00 7.00 6.00 7.00 7.00
Human Resources 8.00 7.00 7.00 7.00 8.00 8.00 8.00 8.00 5.00 5.00
Finance 26.00 24.50 24.50 26.50 25.50 26.50 29.50 28.50 19.50 19.00
Parking Systems - - - - - - - - 13.00 12.00
Facilities Management 23.00 23.00 23.10 21.10 21.20 - - - - 19.00
Community Development 36.00 34.00 36.00 36.00 36.00 36.00 35.00 33.00 28.00 27.00
Police 212.30 213.80 217.50 219.50 221.75 220.75 220.75 218.50 219.00 222.00
Fire 109.00 109.00 109.00 110.00 111.00 111.00 112.00 111.00 107.00 108.00
Human & Health Services 41.73 39.54 39.30 39.30 40.15 29.68 24.90 26.40 15.90 17.00
Public Works 90.00 90.00 90.25 91.25 90.25 108.45 105.45 83.25 58.80 49.00
Human Relations 4.00 4.00 4.00 4.00 4.00 - - - -
Library 67.17 66.20 66.65 67.18 67.19 66.69 69.35 67.50 52.00 52.00
Recreation, Parks & Forestry 122.25 113.94 119.20 121.30 119.90 115.90 112.75 131.75 132.00 105.00
Total General Fund 777.50 762.03 775.55 784.18 784.99 771.17 758.23 743.60 694.20 665.00
Neighborhood Stabilization Program - - - - - - - - 1.00 1.00
Emergency Telephone System 3.00 4.00 4.00 4.00 4.00 4.00 4.00 5.00 5.00 5.00
CDBG 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 3.00
Economic Development Fund 1.45 1.45 1.45 1.45 1.45 1.30 2.30 2.30 5.00 6.00
Downtown II TIF Fund - - - - 1.00 - - - -
Capital Improvements Fund - - - - - - - - 1.00
Maple Ave. Garage - - - 1.00 1.00 1.00 1.00 - -
Parking Fund 13.00 13.00 13.00 14.00 14.50 14.50 14.50 15.50 14.00 15.00
Water 44.00 44.00 43.00 43.00 43.00 43.00 43.00 43.00 42.00 41.00
Sewer 14.00 14.00 14.00 13.50 14.00 14.00 14.00 14.00 12.00 11.00
Solid Waste - - - - - - - - - 6.00
Fleet Services 17.00 17.00 17.00 17.00 17.00 15.00 15.00 15.00 11.00 12.00
Insurance Fund 2.00 1.30 1.30 1.30 1.30 1.00 2.00 2.00 3.00 4.00
Total Other Funds 96.45 96.75 95.75 97.25 99.25 95.80 97.80 98.80 95.00 103.00
Total All Funds 873.95 858.78 871.30 881.43 884.24 866.97 856.03 842.40 789.20 768.00
Source: City of Evanston HR Division
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CITY OF EVANSTON, ILLINOIS
Property Tax Rates per $100 - Direct and Overlapping Governments
Last Ten Levy Years
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
City of Evanston 1.628 1.610 1.698 1.528 1.491 1.527 1.283 1.295 1.204 1.365
Consolidated Elections 0.032 - 0.029 - 0.014 - 0.012 - 0.021 -
Cook County 0.746 0.690 0.630 0.593 0.533 0.500 0.446 0.415 0.394 0.423
Cook County Forest Preserve District 0.067 0.061 0.059 0.060 0.060 0.057 0.053 0.051 0.049 0.051
Suburban T.B. Sanitarium 0.007 0.006 0.004 0.001 0.005 0.005 - - - -
Metropolitan Water Reclamation District 0.401 0.371 0.361 0.347 0.315 0.284 0.263 0.252 0.261 0.274
North Shore Mosquito Abatement District 0.010 0.009 0.009 0.008 0.008 0.009 0.008 0.008 0.008 0.009
Evanston Township 0.064 0.062 0.065 0.056 0.055 0.058 0.050 0.050 0.042 0.046
Community College 535 0.186 0.179 0.186 0.161 0.158 0.166 0.141 0.140 0.140 0.160
School District 202 2.469 2.349 2.444 2.078 2.023 2.099 1.750 1.722 1.616 1.819
School District 65 3.516 3.343 3.475 2.978 2.890 3.045 2.535 2.552 2.401 2.655
Total tax rate for property not in park district
or special service district 9.126 8.680 8.960 7.810 7.552 7.750 6.541 6.485 6.136 6.802
Percent of total tax rate levied by City of Evanston 17.8% 18.5% 19.0% 19.6% 19.7% 19.7% 19.6% 20.0% 19.6% 20.1%
Source: Cook County Assessor's office
Government Unit
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CITY OF EVANSTON, ILLINOIS
Water Sold by Type of Customer
Last Ten Fiscal Years
(in 100 cubic feet)
Fiscal Year Ended
2/28/2003 2/29/2004 2/28/2005 2/28/2006 2/28/2007 2/29/2008 2/28/2009 2/28/2010 2/28/2011 12/31/2011
Type of Customer
Residential 2,734,202 2,639,717 2,506,887 2,720,807 2,388,360 2,375,942 2,260,284 2,174,255 2,187,244 1,804,433
Industrial 37,076 36,015 22,010 20,096 16,307 16,579 15,722 13,624 14,195 11,552
Commercial 1,395,576 1,415,895 1,318,236 1,267,657 1,278,334 1,240,591 1,193,241 1,109,556 1,153,949 928,621
Government 112,007 90,908 86,096 109,121 96,777 100,278 89,420 69,229 75,308 50,129
Total 4,278,861 4,182,535 3,933,229 4,117,681 3,779,778 3,733,390 3,558,667 3,366,664 3,430,696 2,794,735
Total direct rate
per 100 cubic feet 1.47$ 1.47$ 1.47$ 1.47$ 1.47$ 1.52$ 1.52$ 1.52$ 1.52$ 1.52$
Source: City Water department
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CITY OF EVANSTON, ILLINOIS
Water Sold by Major Customers
Last Ten Fiscal Years
Fiscal Year Ended
2/28/2003 2/29/2004 2/28/2005 2/28/2006 2/28/2007 2/29/2008 2/28/2009 2/28/2010 2/28/2011 12/31/2011
Type of Customer
Evanston residents/businesses 6,711,004$ 6,665,158$ 6,559,026$ 6,706,644$ 5,804,517$ 6,012,643$ 5,430,019$ 5,396,739$ 5,377,297$ 4,719,084$
Village of Skokie 3,011,018 2,959,732 2,802,720 3,018,734 2,891,834 3,158,396 2,689,304 2,676,163 2,885,096 2,304,066
Northwest Water Commission 3,434,685 3,367,253 3,377,407 3,750,200 3,497,989 3,620,878 4,820,074 4,506,066 4,781,645 3,710,581
Total $13,156,707 $12,992,143 $12,739,153 $13,475,578 $12,194,340 12,791,917$ 12,939,397$ 12,578,968$ 13,044,038$ 10,733,731$
Source: City Water department
-170-
CITY OF EVANSTON, ILLINOIS
Operating Indicators by Function/Programs
Last Ten Years
Calendar Year
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Function/Program
Police
Violent Offenses 314 293 266 226 224 282 299 255 214 180
Property Offenses 4,122 3,318 3,145 2,965 2,942 2,825 2,739 2,412 2,119 2,144
911 Calls Received 55,125 55,383 56,650 56,650 55,795 59,135 56,717 52,198 35,991 51,969
Fire
Emergency responses 8,003 8,106 7,624 8,135 8,173 8,517 9,134 8,566 8,917 9,063
Fires extinguished 218 225 199 287 220 192 185 154 157 157
Inspections 3,071 2,664 2,194 1,496 1,320 1,050 1,810 709 680 620
Other Public Works
Street resurfacing (estimated miles)3.3 3.3 3.3 3.3 3.3 3.3 3.3 3.3 3.4 3.4
Parks and Recreation
Athletic field usage (hours)unavailable unavailable unavailable unavailable 15,561 15,165 17,121 16,185 18,966 20,075
Picnic permits issued unavailable unavailable unavailable unavailable 319 373 403 431 460 437
Library
Volumes in collection 477,768 491,064 520,458 486,031 495,575 458,017 502,019 502,019 471,262 436,382
Total volumes borrowed 887,773 868,837 880,561 893,841 897,141 867,743 945,952 945,952 951,667 891,769
Water
New connections 47 70 59 74 104 61 57 28 29 16
Water main breaks 65 41 45 78 48 36 52 52 38 28
Average daily consumption
(millions of gallons)36.22 37.74 37.31 41.44 41.41 42.91 40.09 39.41 38.91 38.39
Peak daily consumption
(millions of gallons)75.50 73.17 60.98 80.46 66.49 66.00 65.40 58.94 57.02 65.95
Note: Indicators are not available for general government functions
Source: Various City departments
-171-
CITY OF EVANSTON, ILLINOIS
Capital Assets Statistics by Function
Last Ten Years
Calendar Year
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Function/Program
Police
Number of Stations 1 1 1 1 1 1 1 1 1 1
Budgeted Sworn Officers 161 161 161 161 162 162 165 165 164 164
Fire Stations 5 5 5 5 5 5 5 5 5 5
Other Public Works
Streets (miles)147 147 147 147 147 147 147 147 147 147
Streetlights 5,641 5,641 5,641 5,641 5,641 5,641 5,641 5,641 5,641 5,641
Parks and Recreation
Acreage 290 290 290 290 290 290 290 290 290 290
Playgrounds 51 51 51 51 51 51 51 51 51 51
Baseball/softball diamonds 18 18 18 18 18 18 18 18 18 18
Soccer/football fields 27 27 27 27 27 27 27 27 27 27
Community centers 5 5 5 5 5 5 5 5 5 5
Water
Water mains (miles)159 159 159 159 159 157 157 157 157 157
Fire hydrants 1347 1347 1347 1347 1347 1370 1370 1399 1399 1399
Storage capacity (millions of gallons)22 22 22 22 22 22 22 22 22 22
Note: No capital asset indicators are available for the general government or library function
Source: Various City departments
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TAX INCREMENT FINANCING DISTRICT
REQUIREMENTS
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