HomeMy WebLinkAbout2008-2009 Annual Comprehensive Financial ReportCITY OF EVANSTON, ILLINOIS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED
February 28, 2009
Prepared by Finance 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 12
INDEPENDENT AUDITORS' REPORT ON THE FINANCIAL STATEMENTS 14
MANAGEMENT'S DISCUSSION AND ANALYSIS 17
BASIC FINANCIAL STATEMENTS
Statement of Net Assets 26
Statement of Activities 28
Governmental Funds Balance Sheet 30
Governmental Funds Statement of Revenues, Expenditures,
and Changes in Fund Balances 31
Reconciliation of the Statement of Revenues, Expenditures, and Changes
in Fund Balances of Governmental Funds to the Statement of Activities 32
Proprietary Funds Statement of Net Assets 33
Proprietary Funds Combining Statement of Revenues, Expenses, and
Changes in Fund Net Assets 35
Proprietary Funds Statement of Cash Flows 36
Fiduciary Funds - Statement of Net Assets 38
Fiduciary Funds - Pension Trust Funds - Statement of Changes in
Plan Net Assets 39
Notes to the Financial Statements
Index for Notes to the Financial Statements 40
Notes to the Financial Statements 43
REQUIRED SUPPLEMENTARY INFORMATION
Firefighters' Pension Fund, Police Pension Fund, and Illinois
Municipal Retirement Fund - Schedules of Funding Progress 104
Firefighters' and Police Pension Funds - Schedules of
Employer Contribution 105
General Fund - Schedule of Revenues, Expenditures, and Changes
in Fund Balance - Budget and Actual (Budgetary Basis)106
INTRODUCTORY SECTION
FINANCIAL SECTION
i
CITY OF EVANSTON, ILLINOIS
Table of Contents
PAGE
Notes to the Required Supplementary Information
Digest of Changes - IMRF 107
Conversion from GAAP basis to Budgetary basis 107
GOVERNMENTAL FUND TYPES
Nonmajor Governmental Funds Combining Balance Sheet 112
Nonmajor Governmental Funds Combining Statements of Revenues,
Expenditures, and Changes in Fund Balances 117
GENERAL FUND
Schedule of Revenues - Budget and Actual (Budgetary Basis) 122
Schedule of Expenditures - Budget and Actual (Budgetary Basis)129
SPECIAL REVENUE FUNDS
Motor Fuel Tax Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)131
Economic Development Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)132
Emergency Telephone System Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)133
Affordable Housing Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)134
Community Development Block Grant Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)135
Schedule of Expenditures - Budget and Actual (Budgetary Basis)136
Special Service District No. 4 Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)139
COMBINING AND INDIVIDUAL FUND
STATEMENTS AND SCHEDULES
FINANCIAL SECTION (Continued)
ii
CITY OF EVANSTON, ILLINOIS
Table of Contents
PAGE
Township - Town Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual 140
Township - General Assistance Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual 141
DEBT SERVICE FUNDS
All Funds
Combining Schedule of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual (Budgetary Basis)142
PROPRIETARY FUND TYPES
Nonmajor Proprietary Funds Combining Statement of Revenues,
Expenses, and Changes in Fund Net Assets 145
Nonmajor Proprietary Funds Statement of Cash Flows 146
WATER FUND
Schedule of Net Assets 148
Schedule of Changes in Net Assets - Reserved - Restricted Accounts 150
Operation and Maintenance Account - Schedule of Revenues, Expenses,
and Changes in Unreserved Net Assets - Budget and Actual 151
Operation and Maintenance Account - Schedule of Operating Revenues
Budget and Actual 152
INTERNAL SERVICE FUNDS
All Funds
Statement of Net Assets 154
Combining Statement of Revenues, Expenses, and
Changes in Net Assets 155
Combining Statement of Cash Flows 156
AGENCY FUND
Special Assessment Agency Fund
Statement of changes of Assets and Liabilities 159
COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES (Continued)
iii
CITY OF EVANSTON, ILLINOIS
Table of Contents
PAGE
162
163
164
165
Assessed Value and Actual Valued of Taxable Property 166
Principal Property Tax Payers 167
Property Tax Levies and Collections (City) - Last Ten Levy Years 168
Ratio of General Bonded Debt Outstanding 169
Direct and Overlapping Governmental Activities 170
Pledged - Revenue Coverage 171
Demographic and Economic Statistics - Last Ten Years 172
Principal Employers 173
Full-Time Equivalent City Government Employees by Function 174
Property Tax Rates per $100 - Direct and Overlapping Governments 175
Water Sold by Type of Customer (in 100 cubic feet) 176
Water Sold by Major Customers 177
Operating Indicators by Function/Program 178
Capital Assets Statistics by Function 179
Independent Accountants' Report on Compliance - Tax Increment Financing Districts 181
COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES (Continued)
TAX INCREMENT FINANCING DISTRICT REQUIREMENTS
Changes in Fund Balances - Governmental Funds
STATISTICAL SECTION (UNAUDITED)
Net Assets by Component
Changes in Net Assets
Fund Balances - Governmental Funds
iv
INTRODUCTORY SECTION
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CITY OF EVANSTON, ILLINOIS
Principal Officials
February 28, 2009
Mayor Lorraine H. Morton Mayor Elizabeth B. Tisdahl
Alderman Ward 1 Cheryl Wollin Alderman Ward 1 Judy Fiske
Alderman Ward 2 Lionel Jean-Baptiste Alderman Ward 2 Lionel Jean-Baptiste
Alderman Ward 3 Melissa A. Wynne Alderman Ward 3 Melissa A. Wynne
Alderman Ward 4 Steven J. Bernstein Alderman Ward 4 Donald N. Wilson
Alderman Ward 5 Delores A. Holmes Alderman Ward 5 Delores A. Holmes
Alderman Ward 6 Edmund B. Moran, Jr.Alderman Ward 6 Mark Tendam
Alderman Ward 7 Elizabeth B. Tisdahl Alderman Ward 7 Jane Grover
Alderman Ward 8 Ann Rainey Alderman Ward 8 Ann Rainey
Alderman Ward 9 Anjana Hansen Alderman Ward 9 Coleen Burrus
Patricia P. Ford, Payroll Manager
Jewell Jackson, Purchasing Manager
Rolanda B. Russell, Interim City Manager Wally Bobkiewicz, City Manager
FINANCE DEPARTMENT
Martin Lyons, Finance Director/Treasurer
Wendy McCambridge, Administrative Adjudication Manager
As of Report DateAs of February 28, 2009
CITY COUNCIL
Richard Leipsiger, Revenue Manager
EXECUTIVE
As of February 28, 2009 As of Report Date
Steven Drazner, Assistant Finance Director
Hitesh Desai, Accounting Manager
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MAYOR
CITY COUNCIL
HEALTH AND
HUMAN SERVICES
ADVISORY BOARDS
AND COMMISSIONS
FIRE POLICE
LIBRARY RECREATION, PARKS
AND FORESTRY
CITY MANAGER
COMMUNITY DEVELOPMENT
FINANCE PUBLIC WORKS
LAW HUMAN RESOURCES
CITY OF EVANSTON
ORGANIZATION CHART
RESIDENTS
CITY CLERK
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2100 Ridge Avenue
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August 20, 2009
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 fiscal year ended February 28, 2009 is hereby submitted. The CAFR is prepared by the
City’s Finance Department in accordance with the financial reporting principles and
standards of the Governmental Accounting Standards Board. 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. Consequently, 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 accounting principles generally accepted in the United States of America
(GAAP). 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.
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
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2100 Ridge Avenue
Evanston, Illinois 60201-2798
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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. The
Evanston Township Board of Trustees is the same individuals as the City Council
members. 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 and, 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
fiscal year ended February 28, 2009, 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 fiscal year
ended February 28, 2009, 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, but neighborhood commercial centers are also strong and developing. It is a
part of the Chicagoland 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.
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2100 Ridge Avenue
Evanston, Illinois 60201-2798
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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.
About 4,150 students live in university housing; another 900 live in fraternities and
sororities. Roughly 600 live in two graduate student-housing complexes and
approximately 2,600 live off-campuses, mostly in privately owned apartments in Evanston.
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 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 five standing
committees: Administration and Public Works, Budget, Human Services, Planning and
Development, and Rules. The City Council has also established several special
committees and commissions and advisory boards.
The City Manager is the Chief Administrative 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 eleven departments. The
Finance Director is responsible for the central financial functions of the City.
The City provides a broad range of municipal services, including police and fire protection,
streets and parking, water and sewer service, public libraries, social services, health and
services for the aging, beaches, parks, and cultural events. The City is engaged in assisting
in community and economic development and maintains land use controls.
Schools are provided by separate school districts, 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.
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Evanston, Illinois 60201-2798
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Budget Process: The City’s fiscal year begins on March 1 of each year. The City
Manager submits to the City Council a proposed operating budget in December for the
fiscal year commencing the following March 1. The operating budget includes proposed
expenditures and the means of financing those expenditures. The City Council holds
public hearings and then may modify the budget prior to adoption.
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 except that 1) property taxes are budgeted as
revenue in the year for which they are levied and 2) encumbrances are recorded as the
equivalent of an expenditure for budget purposes. 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 modified accrual basis. Debt service payments and a number of specific
accrued liabilities are only recognized as expenditures when payment is due, and revenue
is recognized only when it has actually been received. The Comprehensive Annual
Financial Report of the City (CAFR) presents expenditures and revenues on both a GAAP
basis and a budget 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 activities. A
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 general fixed 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 some other fund. In the fiscal year 2009/2010, the City projects that
38.3% ($89.7 million) of all City expenditures will occur in the General Fund. Other major
funds include the Capital Improvement, Parking, Water, and Sewer Funds.
The Enterprise Funds (Water and Sewer) are operated and budgeted on a full accrual basis.
Expenditures are recognized when a commitment is made (through a purchase order), and
revenues are recognized when they are obligated to the City (for example, water user fees
are recognized as revenue when bills are produced).
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Evanston, Illinois 60201-2798
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Financial Control Procedures: The City reports financial results based on generally
accepted accounting principles as promulgated by the Governmental Accounting Standards
Board. 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 Finance Department and
Budget Department. Disbursements are made only if expenditures are within the
authorized appropriation. For every major expenditure, a purchase order is prepared and
approved and the related appropriation is encumbered before a check is issued.
MAJOR INITIATIVES
Some major initiatives the City has undertaken during the fiscal year which the City
believes will ultimately improve the quality of life for its residents are as follow:
The Police Department started renovation of the Criminal Investigations Division offices,
including the Detective, Juvenile and Social Services Bureaus.
Parks/Forestry & Recreation continues to identify, develop and submit grants for all five
divisions. As of September 2008, the following grants were awarded: Open Space and
Land Acquisition Development (OSLAD) grant from the Illinois Department of Natural
Resources for the redevelopment of Foster Field; Local Arts Agency Program grant from
the Illinois Arts Council; a Community Arts Access grant from the Illinois Arts Council; a
Summer Food Program grant from the U.S. Department of Agriculture through the Illinois
State Board of Education; Community Development Block Grant award for renovation of
the Fleetwood-Jourdain Community Center’s kitchen and arts + crafts room; a donation
from the Chicago Tennis Patrons supporting junior tennis programs; a donation from the
Evanston Kiwanis Club for a drop-in golf program; NRPA’s Take Me Fishing initiative
named Evanston as an Anchor Agency and awarded a grant to support fishing program
efforts; Quality Counts program grant funded by the Illinois Department of Human
Services administered by Illinois Action for Children for laptop computers and activity
tables for Fleetwood-Jourdain Center’s After-School Program; and a Sticks for Kids
equipment grant awarded by the National Recreation & Park Association and the Golf
Course Builders Association of America to be used for Chandler-Newberger Community
Center's youth golf program.
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2100 Ridge Avenue
Evanston, Illinois 60201-2798
T 847.328.2100
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In the Health and Human Services Department the initial steps for establishing a civilian
medical reserve corps have been taken. Emergency management staff and public health
staff have held their first orientation for health professionals who responded to the City's
first recruitment. All food service inspection reports have become available online. An
EPLAN (Evanston Project for Local Assessment of Needs) community health needs
assessment was approved by the Human Services Committee and submitted to the Illinois
Department of Public Health for their review and approved October 2008.
Fire Station #5 has been completed. In addition, all of the Department paramedics were
offered Advanced Pediatric Life Support training in 2008.
Public Works staff continued to produce results and deliver services at a high level. Street
resurfacing (including work associated with water main replacement and sewer work) was
completed on time and within budget. The last project in the City's Long-Range Sewer
Plan was completed. A 20-year Multi-modal Transportation Plan was completed as was a
10-year bridge plan. The Ridge Avenue Roadway and Relief Sewer Improvement were
completed. The residential street light upgrade project was completed. The Bike Plan
implementation was completed and the first phase of bike rack installations occurred.
Numerous initiatives in Streets and Sanitation were implemented on time and within
budget, such as conversion from night sweeping to day sweeping, bulk trash pick-up
program, two pilot recycling programs, and most significant was the passage of a
Municipal Solid Waste Franchise that went into effect on November 1, 2008.
In the City’s Library Division, construction of the new Children’s Room and Young Adult
Room were completed on time and within budget. “Room to Grow” capital campaign for
the youth service renovation project exceeded its fundraising goal. The Library’s annual
campaign “the Fund for Excellence” supplemented the Library’s materials budget with
$85,000 in purchases during the fiscal year.
The Legal Department completed legal training and management development for staff
attorneys. The Department reinstituted general review and modernization of the Evanston
City Code and reviewed tax increment financing expenditures for existing TIF districts in
conjunction with anticipated expiration of existing TIFs.
In the Finance Department, the fiscal year 2008 Comprehensive Annual Financial Report
was completed and received the GFOA Certificate of Achievement Award. The Parking
Citation Management System (Duncan) has been implemented while the Licensing/Permit
Management System (Accela) is in the process of implementation. The City also purchased
a new utility billing software to handle all water billing related issues. A refunding of prior
issued debt was successfully accomplished, thus saving the City thousands of dollars in
interest expense. A new CIP report format was implemented and the City received the
GFOA distinguished budget award for FY2009.
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2100 Ridge Avenue
Evanston, Illinois 60201-2798
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In the City Manager’s Office, staff continues to work toward the goals and objectives of
the 2006 Strategic Plan. Staff has evaluated and will recommend purchase of a customer
relationship management system that would include both aldermanic and citizen requests
which will provide for greater accountability and timeliness in responding to such requests.
The CMO will continue to improve operational efficiencies through alignment of services
with departments, while achieving significant budgetary savings.
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 continued to deteriorate during the year which
trickled down to local economy in terms of an extreme slowdown in the real estate market
and overall spending patterns. Should things begin to improve, the City should see a nice
improvement in all revenue sources but particularly with real estate transfer tax income
and sales tax revenues.
Risk Management: The City has in place a new third third-party administrator for its
liability and workers’ compensation claims. Additionally, more staff and resources are
being dedicated to internal risk management and formal safety training programs are being
investigated 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. As a matter of Budget Policy, the City
fully funds each year’s annual required contribution to the pension plans as determined by
the actuary.
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 deferred compensation plan (Section 457 plan) for its employees. This is
administered by Nation wide Retirement solutions for Fire employees and by ICMA
(International City/County Management Association) Retirement Corporation for all other
employees. The employees contribute on a tax deferred basis fixed dollar amount or
percentage of their salary. Besides this, PEHP (Post Employment Health Plan) is also
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Certificate of
Presented to
City of Evanston
For its Comprehensive Annual
February 29, 2008
President
Executive Director
Financial Report
for the Fiscal Year Ended
Reporting
in Financial
for Excellence
Achievement
Text38:Illinois
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
government units and public employee retirement
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and financial reporting.
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FINANCIAL SECTION
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INDEPENDENT AUDITORS' REPORT
ON THE FINANCIAL STATEMENTS
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FINANCIAL HIGHLIGHTS
A.
B.
C.
D.
E.
USING THIS ANNUAL REPORT
MANAGEMENT'S
DISCUSSION AND ANALYSIS
FEBRUARY 28, 2009
The City of Evanston (the City) discussion and analysis is designed to (1) assist the reader in focusing on significant
financial issues, (2) provide an overview of the City's financial activity, (3) identify changes in the City's financial position
(its ability to address the next and subsequent year challenges), (4) identify any material deviations from the financial plan
(the approved budget), and (5) identify individual fund issues or concerns. We encourage readers to consider the
information presented here in conjunction with additional information that we have furnished in our letter of transmittal,
which can be found on page 4 of this report.
The City's net assets increased by $15,326,025 (or 5.7%) from the prior fiscal year reported (FY 2008). The
governmental net assets decreased by $1,886,294 (or 2.3% from FY 2008) and the business-type activities net assets
increased by $17,212,319 (or 9.3% from FY 2008).
The governmental activities revenue increased by $1,916,151 (or 1.5%) from the prior year. The expenditures
decreased by $3,947,398 (or 3.2%).
The business-type activities revenue decreased by $471,785 (or 1.3%). The expenditures increased by $16,954 (or
0.06%) from the prior year.
The total cost of all City programs decreased by $3,930,444 or 2.5%.
The City of Evanston issued general obligation debt series 2008A (refunding 2000D bonds), 2008B (refunding
2002A bonds) and 2008C series (Capital Improvement Plan) in the total amount of $43,950,000 during the early part
of the current fiscal year. The City later issued series 2008D bonds to current refund $19,585,000 of the outstanding
amount of 1999 bonds.
The financial statement's focus is on both the City as a whole (government-wide) and on the major individual funds. Both
perspectives (government-wide and major fund) allow the user to address relevant questions, broaden a basis for
comparison, and enhance the City's accountability.
The City's financial reporting includes the funds of the City (primary government) and, additionally, organizations for
which the City is accountable (component units - the Township). The Evanston Township Board of Trustees are the same
individuals as the City Council members. The Township is blended into the primary government for financial reporting
purposes.
(Unaudited)
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REPORTING THE CITY AS A WHOLE
Government-wide Financial Statements
The government-wide financial statements are presented on pages 26 - 29 of this report.
REPORTING THE CITY'S MOST SIGNIFICANT FUNDS
Fund Financial Statements
The City's annual report includes two government-wide financial statements. These statements provide both long-
term and short-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 year. All current year 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.
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 nonmajor 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
year. They are useful in evaluating annual financing requirements of governmental programs and the commitment of
spendable resources for the near-term.
(Unaudited)
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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 statements are included in the basic financial statements for the general fund and major special
revenue fund. Budgetary comparison schedules for the other special revenue funds and the debt service fund can be found
in a later 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 30 - 31 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 long-term and short-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 and nonmajor enterprise funds is found in combining schedules in a later section of this report.
The basic proprietary fund financial statements are presented on pages 33 - 37 of this report.
Fiduciary funds such as the employee 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. Fiduciary fund financial statements report similarly to proprietary funds.
The basic fiduciary fund financial statements are presented on pages 38 - 39 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 40 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 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 103 - 107
of this report.
Major funds and component units are reported in the basic financial statements, as discussed. Combining and individual
statements and schedules for nonmajor and internal service funds are presented in a subsequent section of this report
beginning on page 112. Additional information on capital assets and long-term debt can be found on page 63 and 73
respectively.
(Unaudited)
-19-
Financial Analysis of the City as a Whole
2009 2008 2009 2008 2009 2008
Current and Other Assets $130,202,506 $136,518,792 $35,759,899 $33,165,483 $165,962,405 $169,684,275
Capital Assets 152,418,411 146,761,654 332,618,681 328,070,154 485,037,092 474,831,808
Total Assets 282,620,917 283,280,446 368,378,580 361,235,637 650,999,497 644,516,083
Long-Term Liabilities 158,340,533 158,703,507 161,850,922 173,360,998 320,191,455 332,064,505
Other Liabilities 43,225,424 41,635,685 4,555,215 3,114,515 47,780,639 44,750,200
Total Liabilities 201,565,957 200,339,192 166,406,137 176,475,513 367,972,094 376,814,705
Net Assets
Investment in Capital
assets, net of Debt 30,384,446 31,541,654 172,398,892 159,184,804 202,783,338 190,726,458
Restricted 25,078,442 23,168,727 1,987,334 1,986,369 27,065,776 25,155,096
Unrestricted 25,592,072 28,230,873 27,586,217 23,588,951 53,178,289 51,819,824
Total Net Assets $81,054,960 $82,941,254 $201,972,443 $184,760,124 $283,027,403 $267,701,378
Governmental Funds: The governmental activities experienced a net fund balance decrease of $1,886,294. This was
primarily due to an increase of $3,750,790 in the transfers out to business type funds and offset by increased revenues.
Business Funds: The business-type activity fund balance experienced an increase in net assets of $17,212,319. This is
primarily due to a surpluses in the Water & Sewer Funds of a combined $7,101,477 and a surplus of $10,110,842 from the
consolidated Parking Fund.
Governmental Activities Business-type Activities Total Primary Government
The City's total revenues increased by $1,444,366 or 0.9%. The City's total expenditures for all programs decreased by
$3,930,444, or 2.5%. Governmental activity total revenue increased $1,916,151 primarily due to higher property taxes.
Expenditures in the governmental activities decreased by $3,947,398, primarily due to lesser amounts spent in general
management and support and interest expense. The revenue for business-type funds decreased slightly from $35,227,700
to $34,755,915 or $471,785. This is due to decreased amount of $681,169 in interest income. In summary, overall revenues
increased $1,444,366, primarily from tax incremental fund property taxes while expenses decreased primarily due to lesser
amounts spent in general management and support and interest expense.
The City's combined net assets increased by $15,326,025 from FY 2008 - an increase from $267,701,378 to $283,027,403.
STATEMENT OF NET ASSETS
(Unaudited)
-20-
2009 2008 2009 2008 2009 2008
Revenue
Program Revenues:
Charges for services $28,274,175 $31,678,323 $34,178,159 $33,940,877 $62,452,334 $65,619,200
Operating grants and
contributions 5,117,149 5,982,191 5,117,149 5,982,191
Capital grants and
contributions 113,000 117,569 113,000 117,569
General Revenues:
Sales taxes 15,499,781 16,172,072 15,499,781 16,172,072
Property taxes 56,217,108 48,360,338 56,217,108 48,360,338
Utility taxes 8,802,973 8,537,098 8,802,973 8,537,098
Other taxes 17,880,644 15,848,537 (27,898)17,852,746 15,848,537
Investment income 360,133 3,652,684 605,654 1,286,823 965,787 4,939,507
Total Revenue 132,264,963 130,348,812 34,755,915 35,227,700 167,020,878 165,576,512
Expenses
General management and
support 18,017,293 20,072,484 18,017,293 20,072,484
Public safety 49,484,161 48,762,564 49,484,161 48,762,564
Public works 21,627,529 21,566,199 21,627,529 21,566,199
Health and human
resources development 4,545,632 4,982,385 4,545,632 4,982,385
Recreation and cultural
opportunities 20,001,518 20,634,114 20,001,518 20,634,114
Housing and economic
development 6,964,810 7,090,110 6,964,810 7,090,110
Interest 4,041,342 5,521,827 4,041,342 5,521,827
Water 9,390,801 8,668,290 9,390,801 8,668,290
Sewer 8,725,626 8,972,020 8,725,626 8,972,020
Sherman garage 4,269,860 4,269,860
Maple avenue garage 2,682,440 2,682,440
Motor vehicle parking
system 8,896,141 2,403,004 8,896,141 2,403,004
Total Expense 124,682,285 128,629,683 27,012,568 26,995,614 151,694,853 155,625,297
Increase in net assets before
transfer 7,582,678 1,719,129 7,743,347 8,232,086 15,326,025 9,951,215
Transfers (9,468,972) (5,115,939) 9,468,972 5,115,939
Increase/(Decrease) in (1,886,294) (3,396,810) 17,212,319 13,348,025 15,326,025 9,951,215
Net Assets
Net Assets - Beginning 82,941,254 86,338,064 184,760,124 171,412,099 267,701,378 257,750,163
Net Assets - Ending $81,054,960 $82,941,254 $201,972,443 $184,760,124 $283,027,403 $267,701,378
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
(Unaudited)
-21-
Financial Analysis of the City's Funds
Governmental Funds
Proprietary 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 year in comparison with
upcoming financing requirements. Governmental funds reported ending fund balances of $84,038,454 as a year-end total
which includes $21,515,605 unreserved/undesignated, $29,491,628 unreserved/designated and $33,031,221 reserved. The
reserved fund balance consists of amounts required to be set aside by external authorities as well as capital (unspendable)
assets.
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 $4,920,699 primarily due to transfers to the Police and Fire Pensions in the
amount of $4,582,486. Some revenues that came in better than anticipated were the athletic tax, gas utility tax, parking
Tax, building/right of way permits, state income tax and charges for services. Departments in which expenditures
materially exceeded budget include police, fire and streets divisions and is primarily attributable to overtime, termination
payouts, and large expenditures associated with snow removal due to a harsh winter season.
Combined Non-Major Governmental Funds
Combined non-major fund balances totaled $49,821,155, an increase of $1,725,629 from prior year of $48,095,526. Non-
major funds with materially annual surpluses include Special Assessment, Economic Development, Township, General
Obligation Debt, Central Business District TIF, Howard Hartrey TIF, and West Evanston TIF. Non-major funds with
annual deficits included the Motor Fuel, Library, E911, Southwest TIF, Washington National TIF and Central Business
District TIF CIP.
The Capital improvements fund accounts for the City's 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 $722,083, from $13,912,566 to $13,190,483.
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 main proprietary funds operated by the City are the Water, Sewer, and Parking Funds, whereas the non-major
proprietary funds include the Maple Garage and Sherman Garage which were consolidated and their fund balances
transferred into the Parking fund as of the end of the fiscal year. The Water and Sewer funds have combined increase of
$7,101,477 in the net assets primarily due to the accrual method of accounting and applying debt principal payments against
the outstanding debt liability. The Parking, Maple and Sherman garages added $10,110,842 to the net assets during the year
for a reason similiar to the surplus in the Water and Sewer Funds. Although fund balances in these proprietary funds
showed a healthy increase, it is important to keep in mind that these Funds carry a heavy debt level and therefore, large debt
payments will be required in the future.
Internal Service Funds
The City's combined internal service funds net assets decreased by $1,567,622 from $6,772,702 as of February 29, 2008 to
$5,205,080 as of February 28, 2009 due to a level of disbursements paid out without a corresponding amount of incoming
revenues (interfund transfers-in) to cover these expenditures.
(Unaudited)
-22-
General Fund Budgetary Highlights
Capital Assets
Long-Term Debt
Bond Ratings
Economic Factors
Total actual revenues for the General fund were $82,548,904 while total expenditures were $92,973,290. Actual revenues
in the General Fund came in short of budget primarily due to decreases in real estate transfer, sales tax, and interest income
revenues sources due to a deterioration of the overall economy. Total expenditures in the General Fund were less than
budgted amounts by $1,399,391 due to early retirements and other cost saving measures in various operating divisions.
Evanston is a diverse community consisting primarily of residential homes, several non profit organizations including a
very well known private university, and many smaller scale retail shops/restaurants as well as some popular, big box
retailers. In general, economically sensitive revenues such as sales tax, real estate transfer taxes, business licenses and
grants came in well below budgeted revenues. Sales tax receipts, a good indicator of economic health, came in slightly less
than budget because of the current economic conditions. Most other revenues remained relatively flat with few exceptions.
The unemployment rate in Evanston has increased at a similar pace as many other cities in the State. The primary employers
in the City include universities, several not-for-profit organizations, and numerous retail businesses and restaurants. Due to
the high number of non profit organizations which make a large portion of Evanston's workforce, the City has been
somewhat insulated from the economic downturn in employment areas. The City may also experience a lag in the impact of
the economic downturn as the non-profit sector follows the rest of the economy.
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 February 28, 2009, was $485,037,092. The total increase
in governmental funds and business type activity funds were $5,656,757 and $4,548,527 respectively. The overall percent
increase in capital assets was 2.1% for the City as a whole. Major capital asset increases during the current fiscal year were
primarily attributed to capitalized construction in progress, Sewer System and Infrastructure. Readers desiring more detailed
information on capital asset activity should see Note 6 in the Notes to the Financial Statements.
At the end of the fiscal year, the City had total general obligation bonded debt outstanding of $174,110,001, of which
$55,983,865 was for business type activities paid by the City's Parking, Sewer, Maple, and Sherman Garage Funds. During
the current year, the City issued series 2008A, 2008B and 2008C bonds for $43,950,000 in fixed rate general obligation
bonds for various City capital project requirements which also included a current refunding of series 2000D bonds for
$3,900,000 and a 2002A bonds for $27,700,000. The City also issued series 2000D bonds to current refund $19,585,000 of
the outstanding amount of 1999 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 see Note 9 in the Notes to the Financial
Statements.
The City's general obligation bonds are rated Aa1 by Moody's Investor Rating Service and AAA by Fitch Ratings.
Evanston City Water Fund revenue bonds are rated Aa1 and AA for uninsured issues.
(Unaudited)
-23-
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 Finance Department at the City of Evanston, 2100 Ridge
Avenue, Evanston, Illinois 60201 or access the website at www.cityofevanston.org.
(Unaudited)
-24-
BASIC FINANCIAL STATEMENTS
-25-
CITY OF EVANSTON, ILLINOIS
Statement of Net Assets
Governmental Business-type
Activities Activities Total
Cash and equivalents $ 61,907,761 $ 21,111,607 $ 83,019,368
Investments 1,703,704 - 1,703,704
Receivables (net, where applicable,
of allowances for uncollectibles)
Property taxes 50,933,227 - 50,933,227
Accounts - 4,149,324 4,149,324
Notes 6,361,234 - 6,361,234
Special assessments 886,662 - 886,662
Accrued interest 18,462 15,017 33,479
Other 3,096,147 46,744 3,142,891
Due from other governments 6,060,845 - 6,060,845
Internal balances (1,040,345) 1,040,345 -
Inventories 267,572 827,738 1,095,310
Restricted assets
Cash and equivalents and investments - 8,310,124 8,310,124
Capital assets
Capital assets not being depreciated 31,225,284 16,598,950 47,824,234
Capital assets (net of accumulated
depreciation)121,193,127 316,019,731 437,212,858
Other assets 7,237 259,000 266,237
Total Assets 282,620,917 368,378,580 650,999,497
February 28, 2009
Primary Government
Assets
The accompanying notes are an integral part of this statement.
-26-
Governmental Business-type
Activities Activities Total
Vouchers payable $ 4,120,463 $ 1,391,550 $ 5,512,013
Accrued payroll 2,366,980 - 2,366,980
Interest payable 1,159,219 383,619 1,542,838
Other payables 245,897 6,887 252,784
Due to other governments 6,682 - 6,682
Due to pension funds 3,331,373 - 3,331,373
Payable from restricted assets
Vouchers payable - 1,736,996 1,736,996
Interest payable - 1,036,163 1,036,163
Unearned revenue 31,994,810 - 31,994,810
Noncurrent liabilities
Payable from restricted assets - due
within one year - 10,647,035 10,647,035
Due within one year 15,265,371 13,782,682 29,048,053
Due in more than one year 143,075,162 137,421,205 280,496,367
Total Liabilities 201,565,957 166,406,137 367,972,094
Investment in capital assets, net of related debt 30,384,446 172,398,892 202,783,338
Restricted
Culture and recreation 851,878 - 851,878
Capital improvements - 800,000 800,000
Debt service 23,826,206 1,187,334 25,013,540
Other 400,358 - 400,358
Unrestricted 25,592,072 27,586,217 53,178,289
Total Net Assets $ 81,054,960 $ 201,972,443 $ 283,027,403
Primary Government
Liabilities
Net Assets
-27-
CITY OF EVANSTON, ILLINOIS
Statement of Activities
Functions/Programs
Governmental activities:
General management and support $ 18,017,293 $ 13,347,538 $-
Public safety 49,484,161 1,524,787 36,378
Public works 21,627,529 702,780 2,031,686
Health and human resource development 4,545,632 1,429,534 581,129
Recreation and cultural opportunities 20,001,518 4,637,300 -
Housing and economic development 6,964,810 6,632,236 2,467,956
Interest 4,041,342 - -
Total governmental activities 124,682,285 28,274,175 5,117,149
Business-type activities:
Water 9,390,801 13,685,196 -
Sewer 8,725,626 13,773,957 -
Motor vehicle parking system 8,896,141 6,719,006 -
Total business-type activities 27,012,568 34,178,159 -
Total $ 151,694,853 $ 62,452,334 $ 5,117,149
General revenues:
Property tax
Other taxes
Personal property replacement tax
Sales and home rule tax
Income tax
Utility tax
Gain (Loss) on sale of capital assets
Miscellaneous
Investment income
Transfers
Total general revenues and transfers
Change in net assets
Net assets - beginning
Net assets - ending
Expenses Services Contributions
Charges for Grants and
Year ended February 28, 2009
Program Revenues
Operating
The accompanying notes are an integral part of this statement.
-28-
$ - $ (4,669,755) $- $ (4,669,755)
- (47,922,996) - (47,922,996)
- (18,893,063) - (18,893,063)
- (2,534,969) - (2,534,969)
- (15,364,218) - (15,364,218)
113,000 2,248,382 - 2,248,382
- (4,041,342) - (4,041,342)
113,000 (91,177,961) - (91,177,961)
- - 4,294,395 4,294,395
- - 5,048,331 5,048,331
- - (2,177,135) (2,177,135)
- - 7,165,591 7,165,591
$113,000 (91,177,961) 7,165,591 (84,012,370)
56,217,108 - 56,217,108
7,575,381 - 7,575,381
1,440,614 - 1,440,614
15,499,781 - 15,499,781
6,821,169 - 6,821,169
8,802,973 - 8,802,973
- (27,898) (27,898)
2,043,480 - 2,043,480
360,133 605,654 965,787
(9,468,972) 9,468,972 -
89,291,667 10,046,728 99,338,395
(1,886,294) 17,212,319 15,326,025
82,941,254 184,760,124 267,701,378
$ 81,054,960 $ 201,972,443 $ 283,027,403
Total
Business-type
Contributions Activities Activities
Grants and Governmental
Net (Expense) Revenue and Changes in Net Assets
Capital
-29-
CITY OF EVANSTON, ILLINOIS
Governmental Funds
Balance Sheet
Nonmajor Total
Capital Governmental Governmental
General Improvements Funds Funds
Cash and equivalents 11,615,911$ 13,897,422$ 31,985,335$ 57,498,668$
Investments - - 1,703,704 1,703,704
Receivables
Property taxes (net of allowance) 14,995,648 - 35,937,579 50,933,227
Notes (net of allowance)- - 6,361,234 6,361,234
Special assessments - - 886,662 886,662
Accrued interest - - 18,462 18,462
Other 2,808,053 - 254,557 3,062,610
Building held for resale - - 410,000 410,000
Due from other governments 5,856,040 - 204,805 6,060,845
Due from other funds 290,877 67,977 808,897 1,167,751
Other assets 7,237 - - 7,237
Total Assets 35,573,766$ 13,965,399$ 78,571,235$ 128,110,400$
Liabilities
Vouchers payable 2,517,228$ 774,916$ 592,059$ 3,884,203$
Accrued payroll 2,366,980 - - 2,366,980
Compensated absences payable 80,963 - - 80,963
Other 242,640 - 3,257 245,897
Due to other governments - - 6,682 6,682
Due to other funds 133,437 - 5,358,974 5,492,411
Deferred revenues 9,205,702 - 22,789,108 31,994,810
Total Liabilities 14,546,950 774,916 28,750,080 44,071,946
Fund Balances
Reserved 1,274,562 - 31,346,659 32,621,221
Reserved for HUD Approved Projects - - 410,000 410,000
Unreserved designated
General fund 5,426,913 - - 5,426,913
Capital improvement funds - 13,190,483 - 13,190,483
Capital project funds - - 7,708,627 7,708,627
Special revenue funds - - 3,165,605 3,165,605
Unreserved undesignated
Special revenue funds - - 7,190,264 7,190,264
General fund 14,325,341 - - 14,325,341
Total Fund Balances 21,026,816 13,190,483 49,821,155 84,038,454
Total Liabilities and Fund Balances 35,573,766$ 13,965,399$ 78,571,235$
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.145,779,027
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.(152,167,426)
OPEB liability payable is not due and payable in the current period and therefore, is not
reported in the governmental funds.(640,956)
Interest acrrual from last interest payment (December 1, 2008 or January 1, 2009)
to February 28, 2009.(1,159,219)
The net assets of the internal service fund are included in the governmental activities in the
statement of net assets.5,205,080
Net assets of governmental activities 81,054,960$
February 28, 2009
Assets
Liabilities and Fund Balances
The accompanying notes are an integral part of this statement.
-30-
CITY OF EVANSTON, ILLINOIS
Governmental Funds
Statement of Revenues, Expenditures, and Changes in Fund Balances
Nonmajor Total
Capital Governmental Governmental
General Improvements Funds Funds
Revenues
Taxes 40,173,003$ -$ 43,861,991$ 84,034,994$
Licenses and permits 8,820,280 - - 8,820,280
Special assessments - - 516,168 516,168
Intergovernmental 16,391,753 113,000 4,508,101 21,012,854
Charges for services 8,399,042 - - 8,399,042
Fines and forfeits 4,442,282 - - 4,442,282
Investment income 240,988 293,789 (262,779) 271,998
Miscellaneous 3,980,418 416,436 282,356 4,679,210
Total Revenues 82,447,766 823,225 48,905,837 132,176,828
Expenditures
Current
General management and support 12,709,098 2,287,551 1,501,780 16,498,429
Public safety 38,453,587 360,097 11,185,688 49,999,372
Public works 16,393,126 817,343 1,702,613 18,913,082
Health and human resource development 3,745,632 - 800,000 4,545,632
Recreation and cultural opportunities 18,485,225 366,605 90,452 18,942,282
Housing and economic development 3,301,478 - 3,661,989 6,963,467
Debt service
Principal - - 9,885,000 9,885,000
Interest - - 5,142,184 5,142,184
Fiscal agent fees - - 27,650 27,650
Capital outlay - 7,823,903 384,925 8,208,828
Total Expenditures 93,088,146 11,655,499 34,382,281 139,125,926
Excess (Deficiency) of Revenues
Over (Under) Expenditures (10,640,380) (10,832,274) 14,523,556 (6,949,098)
Other Financing Sources (Uses)
Transfers in 5,415,600 - 511,644 5,927,244
Transfers out - (300,000) (14,493,973) (14,793,973)
Issuance of debt 304,081 10,410,191 13,660,000 24,374,272
Premiums and discounts - - 804,606 804,606
Escrow funding - - (13,280,204) (13,280,204)
Total Other Financing Sources (Uses)5,719,681 10,110,191 (12,797,927) 3,031,945
Net Change in Fund Balances (4,920,699) (722,083) 1,725,629 (3,917,153)
Fund Balances -Beginning of Year 25,947,515 13,912,566 48,095,526 87,955,607
Fund Balances - End of Year 21,026,816$ 13,190,483$ 49,821,155$ 84,038,454$
Year ended February 28, 2009
The accompanying notes are an integral part of this statement.
-31-
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 $ (3,917,153)
5,126,526
23,615,000
(25,081,112)
357,743
(344,368)
(75,308)
Internal service funds are reported separately in the fund financial statements.(1,567,622)
Change in net assets of governmental activities $ (1,886,294)
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.
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.
Interest accrual from last interest payment (December 1, 2008 or January 1, 2009) to February 28, 2009.
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.
Issuance of 2008 Bonds provides current financial resources to governmental funds, while the repayment
of the principal of long term debt and capital lease expenditure consume the current financial resources of
governmental funds. Neither transaction has any effect on net assets. Governmental funds also report the
effect of bonds premiums, discounts, and similar items when debt is first issued.
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.
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances
of Governmental Funds to the Statement of Activities
Year ended February 28, 2009
The accompanying notes are an integral part of this statement.
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CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Statement of Net Assets
Governmental
Activities-
Motor Vehicle Internal
Parking Service
Water Sewer System Total Funds
Current Assets
Cash and equivalents 7,006,178$ -$ 14,105,429$ 21,111,607$ 4,409,093$
Restricted cash and equivalents
and investments 2,442,692 5,867,432 - 8,310,124 -
Receivables
Accounts - billed 941,803 266,076 - 1,207,879 -
Accounts - unbilled 821,253 2,120,192 - 2,941,445 -
Accrued interest 15,017 - - 15,017 -
Other 6,887 - 39,857 46,744 33,537
Due from other funds - 366,947 850,312 1,217,259 -
Inventories 639,684 188,054 - 827,738 267,572
Total Current Assets 11,873,514 8,808,701 14,995,598 35,677,813 4,710,202
Noncurrent Assets
Capital Assets
Capital assets not being depreciated 4,081,512 9,523,292 2,994,146 16,598,950 -
Capital assets being depreciated 67,068,536 232,599,878 77,963,636 377,632,050 20,308,430
Less accumulated depreciation (18,207,726) (31,714,968) (11,689,625) (61,612,319) (14,079,046)
Total Capital Assets 52,942,322 210,408,202 69,268,157 332,618,681 6,229,384
Other Assets
Notes Receivable - - 259,000 259,000 -
Total Noncurrent Assets 52,942,322 210,408,202 69,527,157 332,877,681 6,229,384
Total Assets 64,815,836 219,216,903 84,522,755 368,555,494 10,939,586
February 28, 2009
Business-type Activities- Enterprise Funds
Assets
The accompanying notes are an integral part of this statement.
-33-
Governmental
Activities-
Motor Vehicle Internal
Parking Service
Water Sewer System Total Funds
Current Liabilities
Vouchers payable 686,225$ 167,744$ 537,581$ 1,391,550$ 236,260$
Vouchers payable - restricted 352,599 1,384,397 - 1,736,996 -
Interest payable - - 383,619 383,619 -
Interest payable - restricted 15,259 1,020,904 - 1,036,163 -
Revenue bonds payable 437,500 - - 437,500 -
Revenue bonds payable - restricted 87,500 - - 87,500 -
Compensated absences payable 309,768 68,408 50,532 428,708 80,389
General obligation bonds payable - - 12,916,474 12,916,474 -
General obligation bonds payable - restricted - 2,550,125 - 2,550,125 -
Claims payable - - - - 2,395,337
Notes payable - Sewer IEPA Loans - restricted - 8,009,410 - 8,009,410 -
Due to other funds 104,046 23,275 49,593 176,914 47,058
Other Payable 6,887 - - 6,887 -
Total Current Liabilities 1,999,784 13,224,263 13,937,799 29,161,846 2,759,044
Long-Term Liabilities
Notes payable - Sewer IEPA Loans - 93,765,813 - 93,765,813 -
General obligation bonds payable - 13,560,433 26,956,833 40,517,266 -
OPEB liability payable 20,709 4,604 4,852 30,165 12,199
Revenue bonds payable 1,720,000 - - 1,720,000 -
Unamortized bond discount/premium 14,677 378,599 763,696 1,156,972 -
Compensated absences payable 166,904 36,858 27,227 230,989 -
Claims payable - - - - 2,963,263
Total Long-Term Liabilities 1,922,290 107,746,307 27,752,608 137,421,205 2,975,462
Total Liabilities 3,922,074 120,970,570 41,690,407 166,583,051 5,734,506
Invested in capital assets, net of
related debt 50,770,145 92,510,769 29,117,978 172,398,892 6,229,384
Restricted for debt service 1,187,334 - - 1,187,334 -
Restricted for capital improvements 800,000 - - 800,000 -
Unrestricted 8,136,283 5,735,564 13,714,370 27,586,217 (1,024,304)
Total net assets 60,893,762$ 98,246,333$ 42,832,348$ 201,972,443$ 5,205,080$
Liabilities
Net Assets
Business-type Activities- Enterprise Funds
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CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Combining Statement of Revenues, Expenses, and Changes in Fund Net Assets
Governmental
Activities-
Motor Vehicle Nonmajor Internal
Parking Proprietary Service
Water Sewer System Funds Total Funds
Operating Revenues
Charges for services 13,208,340$ 13,748,122$ 3,521,244$ 3,088,665$ 33,566,371$ 6,328,600$
Miscellaneous 476,856 25,835 58,040 51,057 611,788 11,896
Total Operating Revenues 13,685,196 13,773,957 3,579,284 3,139,722 34,178,159 6,340,496
Operating Expenses Excluding Depreciation
Administration 674,624 1,726,263 613,139 - 3,014,026 -
Operations 7,192,285 472,485 1,271,692 3,283,451 12,219,913 6,883,659
Total Operating Expenses
Excluding Depreciation 7,866,909 2,198,748 1,884,831 3,283,451 15,233,939 6,883,659
Operating Income (Loss) Before Depreciation 5,818,287 11,575,209 1,694,453 (143,729) 18,944,220 (543,163)
Depreciation 1,417,334 3,033,718 216,060 1,757,103 6,424,215 1,225,265
Operating Income (Loss)4,400,953 8,541,491 1,478,393 (1,900,832) 12,520,005 (1,768,428)
Nonoperating Revenues (Expenses)
Investment income 193,637 121,612 19,930 270,475 605,654 88,135
Interest expense (107,687) (3,521,914) (63,937) (1,773,315) (5,466,853) -
Bond expenses and amortization of discount 1,129 (30,786) - (4,060) (33,717) -
Amortization of bond premium - 59,540 5,283 81,333 146,156 -
Gain (loss) on disposition of assets (27,898) - - - (27,898) 112,671
Total Nonoperating Revenues (Expenses)59,181 (3,371,548) (38,724) (1,425,567) (4,776,658) 200,806
Income (Loss) before transfers and contributions 4,460,134 5,169,943 1,439,669 (3,326,399) 7,743,347 (1,567,622)
Capital Contribution -
Governmental Activities - 250,000 338,307 13,936 602,243 -
Transfers In (Out)
Central Business Tax Increment District - - - 1,872,829 1,872,829 -
Washington National Tax Increment District - - - 5,300,000 5,300,000 -
Motor Vehicle Parking System - - - (33,837,787) (33,837,787) -
Sherman Garage - - 4,901,718 - 4,901,718 -
Maple Avenue Garage - - 28,936,069 - 28,936,069 -
Economic Development - - - 4,600,000 4,600,000 -
General (2,778,600) - (777,500) 650,000 (2,906,100) -
Total Transfers In (Out)(2,778,600) - 33,060,287 (21,414,958) 8,866,729 -
Change in Net Assets 1,681,534 5,419,943 34,838,263 (24,727,421) 17,212,319 (1,567,622)
Total Net Assets - Beginning of Year 59,212,228 92,826,390 7,994,085 24,727,421 184,760,124 6,772,702
Total Net Assets - End of Year 60,893,762$ 98,246,333$ 42,832,348$ -$ 201,972,443$ 5,205,080$
The accompanying notes are an integral part of this statement.
Year ended February 28, 2009
Business-type Activities- Enterprise Funds
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CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Statement of Cash Flows
Governmental
Activities-
Motor Vehicle Nonmajor Internal
Parking Proprietary Service
Water Sewer System Funds Total Funds
Cash Flows from Operating Activities
Receipts from customers and users 13,669,856$ 13,837,190 3,556,631$ 3,146,539$ 34,210,216$ 6,334,258$
Receipts from interfund services provided (42,805) - - 727,072 684,267 2,470
Payments to suppliers (6,831,585) (24,795) (1,253,380) (2,983,838) (11,093,598) (4,760,090)
Payments to employees (662,254) (1,713,340) (616,389) - (2,991,983) (3,345,742)
Payments for interfund services provided - (1,380,861) (30,537) (4,451,354) (5,862,752) 2,474
Net Cash Provided by (Used for) Operating Activities 6,133,212 10,718,194 1,656,325 (3,561,581) 14,946,150 (1,766,630)
Cash Flows from Noncapital Financing Activities
Transfers In (Out)
Central Business Tax Increment District - - - 1,872,829 1,872,829 -
Washington Tax Increment District - - - 5,300,000 5,300,000 -
Motor Vehicle Parking System - - - (12,649,190) (12,649,190) -
Sherman Garage - - 5,270,730 - 5,270,730 -
Maple Avenue Garage - - 7,378,460 - 7,378,460 -
Economic Development - - - 4,600,000 4,600,000 -
General (2,778,600) - (777,500) 650,000 (2,906,100) -
Net Cash Provided by (Used for) Noncapital Financing Activities (2,778,600) - 11,871,690 (226,361) 8,866,729 -
Cash Flows from Capital and Related Financing Activities
Sale of capital assets - - - - - 112,671
Acquisition and construction of capital assets (4,021,825) (6,825,517) (59,990) - (10,907,332) (1,755,496)
Principal paid on revenue bonds (510,000) - - - (510,000) -
Interest paid on revenue bonds (107,687) - - - (107,687) -
Net proceeds from bond refundings - - - 55,000 55,000 -
Proceeds from general obligation bonds - 2,412,793 - - 2,412,793 -
Principal paid on general obligation bonds - (2,305,000) (675,000) (9,340,000) (12,320,000) -
Interest paid on general obligation bonds - (977,522) (151,387) (1,409,827) (2,538,736) -
Proceeds from bond premium - 438,139 36,978 813,334 1,288,451 -
Principal paid on IEPA loans - (7,290,628) - - (7,290,628) -
Interest paid on IEPA loans - (2,673,254) - - (2,673,254) -
Proceeds from IEPA loans - 5,654,964 - - 5,654,964 -
Net Cash (Used for) Capital and Related Financing Activities (4,639,512) (11,566,025) (849,399) (9,881,493) (26,936,429) (1,642,825)
Cash Flows from Investing Activities
Sale of investments - - - - - 6,928,631
Interest income 193,637 121,612 19,930 270,475 605,654 88,135
Net Cash Provided by Investing Activities 193,637 121,612 19,930 270,475 605,654 7,016,766
Net Increase (Decrease) in Cash and Equivalents (1,091,263) (726,219) 12,698,546 (13,398,960) (2,517,896) 3,607,311
Cash and Equivalents
Beginning of year 10,540,133 6,593,651 1,406,883 13,398,960 31,939,627 801,782
End of year 9,448,870$ 5,867,432$ 14,105,429$ -$ 29,421,731$ 4,409,093$
Reconciliation
Cash and equivalents
Current Cash 7,006,178$ -$ 14,105,429$ -$ 21,111,607$ 4,409,093$
Restricted Current Cash 2,442,692 5,867,432 - - 8,310,124 -
9,448,870$ 5,867,432$ 14,105,429$ -$ 29,421,731$ 4,409,093$
Note: The City incurred a non-cash transaction of current debt refunding of $37,455,000.
Year ended February 28, 2009
Business-type Activities- Enterprise Funds
The accompanying notes are an integral part of this statement.Continued
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CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Statement of Cash Flows - Continued
Governmental
Activities-
Motor Vehicle Nonmajor Internal
Parking Proprietary Service
Water Sewer System Funds Total Funds
Reconciliation of Operating Income (Loss) to Net Cash Provided
by (Used for) Operating Activities
Operating income (loss)4,400,953$ 8,541,491$ 1,478,393$ (1,900,832)$ 12,520,005$ (1,768,428)$
Depreciation 1,417,334 3,033,718 216,060 1,757,103 6,424,215 1,225,265
Changes in assets and liabilities
Increase/decrease in A/R miscellaneous - - - - - (7,802)
Other receivables 30,225 - (27,653) (3,580) (1,008) 1,564
Notes receivables - - 5,000 - 5,000 -
Accounts receivable (45,565) 52,692 - - 7,127 -
lnterfund receivable (42,805) - - 727,072 684,267 2,470
Inventories (6,676) 47,675 - - 40,999 105,458
Accrued interest receivable - 10,541 - 10,397 20,938 -
Compensated absences 10,988 12,923 (3,565) - 20,346 (21,231)
Accounts payable - - - - - (41,388)
lnterfund payable - (1,380,861) (30,537) (4,451,354) (5,862,752) 2,474
OPEB liability payable 1,382 296 315 - 1,993 6,316
Vouchers payable 166,119 (3,856) 30,590 299,613 492,466 (1,476)
Vouchers payable (restricted)204,483 377,468 - - 581,951 -
Interest payable (3,226) 26,107 (12,278) - 10,603 -
Claims payable - - - - - (1,269,852)
Net Cash Provided by (Used for) Operating Activities 6,133,212$ 10,718,194$ 1,656,325$ (3,561,581)$ 14,946,150$ (1,766,630)$
Business-type Activities- Enterprise Funds
Year ended February 28, 2009
The accompanying notes are an integral part of this statement.Concluded
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CITY OF EVANSTON, ILLINOIS
Fiduciary Funds
Statement of Net Assets
Pension Special Assessment
Trust Funds Agency Fund
Assets
Cash and short-term investments 10,180,411$ 21,073$
Receivables
Accrued interest 280,394 -
Contribution receivable - Due from other funds 3,331,373 -
Total Receivables 3,611,767 -
Investments, at fair value
U.S. Government obligations 44,180,237 -
Common stock 6,455,343 -
Mutual funds 32,449,981 -
Total Investments 83,085,561 -
Total Assets 96,877,739 21,073
Liabilities
Vouchers payable 9,925 -
Due to special assessment bondholders - 21,073
Total Liabilities 9,925 21,073
Net assets held in trust 96,867,814$ -$
February 28, 2009
The accompanying notes are an integral part of this statement.
-38-
CITY OF EVANSTON, ILLINOIS
Fiduciary Funds - Pension Trust Funds
Statement of Changes in Plan Net Assets
Pension
Trust Funds
Additions
Contributions
Employer 14,294,084$
Plan members 1,908,741
Total contributions 16,202,825
Investment income
Net appreciation (depreciation) in
fair value of investments (18,458,788)
Investment income 3,995,834
Total investment income (14,462,954)
Less investment expense 292,123
Net investment income (14,755,077)
Total additions 1,447,748
Deductions
Benefits 12,366,962
Refunds of contributions 5,657
Administrative expense 76,413
Total deductions 12,449,032
Net increase (11,001,284)
Net assets held in trust for pension benefits
Beginning of year 107,869,098
End of year 96,867,814$
Year ended February 28, 2009
The accompanying notes are an integral part of this statement.
-39-
CITY OF EVANSTON, ILLINOIS
Index for Notes to the Financial Statements
Page
Note 1. Summary of Significant Accounting Policies
A. Reporting Entity 43
B. Government-wide and Fund Financial Statements 44
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 49
H. Capital Assets 49
I. Compensated Absences 50
J. Long-Term Obligations 50
K. Self-Insurance 51
L. Property Taxes 51
M. Fund Equity 52
N. Interfund Transactions 52
O. Use of Estimates 52
P. Land held for resale 52
Note 2. Reconciliation of Government-wide and Fund Financial Statements
A.
53
B.
53
Note 3. Stewardship, Compliance, and Accountability
A. Budgetary Information 55
B. Deficit Fund Equity 56
Note 4. Deposits with Financial Institutions and Investments
A. Types of Accounts and Securities 57
B. Pooling of Cash and Investments 57
C. Types of Investments 58
D. Deposits 60
E. Reconciliation of Unrestricted and Restricted Cash and Investments 60
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
-40-
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 Contribution 71
Note 8. Operating Leases 72
Note 9. Long-Term Debt
A. Changes in Long-Term Debt 73
B. General Obligation Bonds Payable 76
C. Special Service District Bonds Payable 78
D. Revenue Bonds Payable 78
E. Notes Payable – Sewer IEPA Loans 79
F. Prior Years' General Obligation Bond Defeasances 79
G. Prior Years' Special Service District #5 Bond Defeasances 80
H. Post Employment benefits other than Pensions 81
I. Capital Leases 83
Note 10. Fund Equity
A. Restrictions of Net Assets - Water Fund 84
B. Restricted Net Assets - Fiduciary Funds 84
C. Reservations of Fund Equity 85
D. Unrestricted Fund Equity - Designated 86
Note 11. Individual Fund Activities
A. General Obligation Debt Service Fund 87
B. Water Fund 87
C. Special Service District No. 4 87
Note 12. Risk Management – Claims and Judgments 88
-41-
CITY OF EVANSTON, ILLINOIS
Index for Notes to the Financial Statements
Page
(continued from previous page)
Note 13. Contingencies 89
Note 14. Joint Ventures
A. Solid Waste Agency of Northern Cook County 89
B. Evanston Housing Corporation 91
Note 15. Deferred Compensation Plan 92
Note 16. Defined Benefit Pension Plans
Illinois Municipal Retirement Fund
A. Plan Description 93
B. Funding Status and Progress 93
C. Annual Pension Cost 94
Police and Firefighters' Pension Plans
D. Plan Descriptions 95
E. Summary of Significant Accounting Policies
- Basis of Accounting 97
- Method Used to Value Investments 97
F. Contributions and Reserves 97
G. Concentration of Investments 99
H. Three-Year Trend Information – Pension Trust Funds 99
I. Pensions - Detailed Statement of Net Assets 100
J. Pensions - Detailed Statement of Changes in Net Assets 101
K. Pensions - Actuarial Valuations 102
-42-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
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 Assessor also works to assure equity of assessments, and maintains records of building and demolitionpermits
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 Citywas incorporated in 1863. The Cityoperates under a Council-Managerform of government,is a home rule
municipalityas definedby Illinoisstate law, and provides the followingservices 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 financialstatements present the City (the primary government) and its componentunit,
an entity for which the City is considered to be financiallyaccountable. 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 financialstatements of the City of Evanston (City) have been prepared in conformitywith accountingprinciples
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 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-fundlevy, the Township also supports a number
of communityaction 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.
-43-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
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
The statement of activities demonstrates the degree to which the direct expenses of a given functionor 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 functionor 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.
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
informationon all of the nonfiduciaryactivities 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 Township is included in the Reporting Entity due to its financial accountabilitybecause 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, 2008. This report is the most recent one
available.
-44-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
B. Government-wide and Fund Financial Statements - Continued
C. Fund Accounting
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.
Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds, even
though the latter are excluded from the government-widefinancialstatements. Major individualgovernmentalfunds
and major individual enterprise funds are reported as separate columns in the fund financial statements. Nonmajor
funds are reported in the supplementary information.
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.
Fiduciaryfunds 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 fundis used. Agencyfundsgenerallyare used to account for assets that the Cityholds 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 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.
Funds are classified into three categories: governmental, proprietary, and fiduciary. Each category, in turn, is
divided into separate "fund types."
-45-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
D. Measurement Focus, Basis of Accounting, and Financial Statement Presentation
Taxes Fines
Property Traffic fines
Sales (Home Rule)
Utility Intergovernmental
Personal property Motor fuel tax allotments
Grants
Supplemental Security Income reimbursements
Licenses Income taxes
Sales taxes
Use tax
Franchise fees
Charges for services Investment income
Recycling program fees and sales
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 liabilityis 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.
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 availabilityperiod
is used for revenue recognitionfor all other governmentalfund revenues. Expenditures generallyare 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 paymentis due or when amounts have been accumulatedin the
debt service fund for payment to be made early in the following year.
The followingrevenues 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.
-46-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
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 governmental funds:
The City reports the following major proprietary funds:
Additionally, the City reports the following fund types:
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 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.
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 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.
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.
All other revenue items are considered to be measurable and available only when cash is received by the City.
The General Fund is the City's primary operating fund. It accounts for all financialresources of the general
government, except those required to be accounted for in another fund.
Governmentalfunds report unearned revenue in connectionwith 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.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
D. Measurement Focus, Basis of Accounting, and Financial Statement Presentation – Continued
Agency funds account for the cash received from property owners on capital improvement special
assessments. Such amounts collected will be forwarded to bondholders. The City is not obligated in any
manner for this debt and is only acting as agent for the property owners.
The City's enterprise funds apply all applicable GASB pronouncements as well as relevant Financial Accounting
Standards Board (FASB) pronouncements issued on or before November 30, 1989, unless those pronouncements
conflict or contradict GASB pronouncements, in which case, GASB prevails.
As a general rule, the effect of interfund activity has been eliminated from the government-wide financial
statements.
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.
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 fundsand 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.
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.
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.
-48-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
E. Cash and Equivalents
F. Investments
G. Inventories
H. Capital Assets
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.
Investments consist of certificates of deposit, treasury obligations, government agency obligations, and insurance
contracts with maturities greater than three months. Investments of the pension trust funds are carried at fair value.
Investmentswith over one year to maturityare 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.
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.
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-widefinancialstatements. Capital assets are definedby the governmentas equipment and vehicles with
an initial, individual cost of more than $20,000, or infrastructure, buildings, or building improvements with an
initial, individualcost 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.
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.
Cash and equivalents represent cash on hand, cash deposited in interest-bearing and noninterest-bearing checking
accounts, and investments in moneymarkets, certificatesof deposit, and treasuryobligations with maturities of three
months or less at the date of acquisition, and cash deposited with the Illinois Funds.
-49-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
H. Capital Assets - Continued
Description Description Years
Land improvements Buildings and improvements 10-50
Leasehold improvements Office equipment and furniture 5-15
Plant Machinery and equipment 5-15
Transmission and distribution Infrastructure 30-100
system Library collections 7
Sewer system and
underground lines
Parking meters
I. Compensated Absences
J. Long-Term Obligations
Years
10-100
10-100
Property, plant, and equipment are depreciated using the straight-line method over the following estimated useful
lives:
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, as well as issuance
costs, are deferred and amortized over the life of the bonds. Bonds payable are reported net of the applicable bond
premium or discount. Bond issuance costs are reported as deferred charges and amortized over the term of the
related debt.
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-wideand proprietary fund
financial statements. The General Fund has been used in prior years to liquidate the liability for compensated
absences of governmental funds.
20-100
5-100
75-100
15
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 financingsources, while discounts on debt issuances are
reported as other financinguses. Issuance costs, whether or not withheldfrom the actual debt proceeds received, are
reported as debt service expenditures.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
K. Self-Insurance
L. Property Taxes
The property tax calendar for Cook County is as follows:
Lien Date January 1 of Levy Year
Levy Date December of Levy Year
First Installment Due Date
(one-half of prior bill) March 1 of Year following Levy Year
Second Installment Due Date
(balance of total bill) August or September of Year following Levy Year
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 year between March 1, 2008 and
February 28, 2009 and all property tax collections received within 60 days after the end of the fiscal year. A 2%
allowance for loss is reflected in the Township financial statements.
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.
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.
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.
The Town Fund and General Assistance Fund unearned revenue represents the net portion of the 2007 property tax
levy that will not be collected within 60 days of the Township's March 31, 2008 year-end. A 5% allowance for loss
is reflected in the Township financial statements.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
M. Fund Equity
N. Interfund Transactions
O. Use of Estimates
P. Land Held for Resale
In the fund financial statements, governmental funds report reservations of fund balance for amounts that are not
available for appropriation or are legallyrestricted by outside parties for use for a specific purpose. Designationsof
fund balance represent management plans that are subject to change.
In preparing financial statements, management is required to make estimates and assumptions that affect the
reported amounts of assets and liabilities, the disclosure of contingentassets 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.
Transactions that constitute reimbursements to a fund for expenditures/expenses initially made from it that are
properly applicable to another fundare recorded as expenditures/expensesin the reimbursing fundand as reductions
of expenditures/expenses in the fund that is reimbursed. All other interfund transactions are reported as transfers.
In the Governmental Funds the cost of land held for resale is reported as an asset with increases and decreases for
purchases and sales.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 2. RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS
A.
General obligation bonds payable $ 115,961,136
Special service district bonds payable 2,165,000
Bonds premium liability 5,037,459
Compensated absences payable 10,658,541
Capital lease 1,035,370
Pension contributions payable 17,309,920
Net adjustments to reduce fund balance –
total governmental funds to arrive at net
assets – governmental activities.$ 152,167,426
B.
1.
Capital outlay $ 12,415,151
Depreciation expense (7,288,625)
$5,126,526
Explanation of Certain Differences between the Governmental Fund Balance Sheet and the Government-wide
Statement of Net Assets
Net adjustment to increase net changes in fund balances -
total governmental funds to arrive at changes in net
assets of governmental activities
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 $152,167,426 difference
are as follows:
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
$5,126,526 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
-53-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 2.
B.
2.
Principal repayments:
General obligation debt $ 23,320,000
SSD#5 Bond 295,000
Net adjustment to increase net changes in fund balances –
total governmental funds to arrive at changes in net assets
of governmental activities $ 23,615,000
3.
Capital Contribution $ (495,000)
Compensated absences (908,543)
Amortization income 628,588
Pension contributions 1,132,698
$357,743
4.
2008 Bond Series (A,C,D)$ (23,241,136)
Capital lease (1,035,370)
Bonds premium liability (804,606)
$(25,081,112)
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
RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS – 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 $23,615,000 difference are as follows:
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 $357,743 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
Another element of that reconciliation states that "Issuance of 2008 Bonds provides current financial resources to
governmental funds, while the repayment of the principal of long-term debt consumes the current financial resources
of governmental funds." The details of this ($25,081,112) difference are as follows:
Net adjustment to decrease net changes in fund balances – total
governmental funds to arrive at changes in net assets of governmental
activities
-54-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
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
Library, Neighborhood Improvement, Affordable Housing, HOME, Community Development Loan,
Employee Pension Contribution
The Township prepares its annual appropriation ordinance, which is synonymouswith its budget, using the
modified accrual basis of accounting. The appropriation ordinance was adopted June 11, 2007. 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 year.
Budgets are legally adopted on a basis consistent with GAAP except that (1) property taxes are
budgeted as revenue in the year they are levied, (2) debt service payments are budgeted upon tax levy
for such purposes, (3) encumbrances are recorded as the equivalent of expenditures for budget
purposes, and (4) interest earned on escrow accounts is budgeted as revenue in the year of debt
repayment rather than when earned. For purposes of preparing the General Fund - Budget and Actual
(BudgetaryBasis) Schedule of Revenues, Expenditures, and Changes in Fund Balance, GAAP revenues
and expenditures have been adjusted to the budgetary basis.
The City Manager submits to the City Council a proposed operating budget for the fiscal year
commencing the following March 1. 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.
-55-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 3. STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY - Continued
A. Budgetary Information - Continued
Capital Projects
Fund Actual Budget Excess
Debt Service Fund $ 11,326,856 $ 10,644,328 $ 682,528
Howard Ridge Tax Increment District 78,975 16,000 62,975
B. DEFICIT FUND EQUITY
The Washington National Tax Increment District CIP Fund had a deficit fund balance of $251,740 as of February
28, 2009. The City plans to use current resources and possible debt proceeds to pay for future liabilities.
The followingfundshad an excess of actual budgetary expenditures over original and finalbudget for the year ended
February 28, 2009:
The level of control (level at which expenditures may not exceed budget) is the fund. All unencumbered annual
appropriations lapse at the fiscal year-end.
Encumbrance accounting, under which purchase orders, contracts, and other commitments for the expenditure of
monies are recorded in order to reserve that portion of the applicable appropriation, is employed as an extension of
formal budgetary integration in the General Fund. Encumbrances outstanding at year-end are reported as
reservations of fund balances since they do not constitute expenditures or liabilities under GAAP.
Capital Improvements, Central Business Tax Increment District, Washington National Tax Increment
District, Special Assessment
The Insurance Fund, an internal service fund, had a net deficit of $1,607,345 as of February 28, 2009. The City
plans to use current resources to pay for future liabilities.
-56-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS
A. Types of Accounts and Securities
B. Pooling of Cash and Investments
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.
It is the policy of the City to invest public funds in a manner whereby its investment objectives are prioritized in the
followingorder: 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.
Except for cash and investmentsin certain restricted and special accounts, the Citypools the cash of various fundsto
maximize interest earnings. Interest income is allocated to the various funds based upon their respective
participation.
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 LoanBank (FHLB),and Fannie Mae (FNMA); Bankers Acceptances as well as commercialpaper 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.
-57-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS - Continued
C. Types of Investments
Equities
$ -
-
1,703,704
-
$ 1,703,704
Equities
$ -
$ -
Total Money Market
Township Investment Maturities (In Years)
$ -
Less Than 1 Year 1 - 10 More Years
$ 1,434,978 $ 1,434,978
Fifth Third Money Market
1 - 10 More YearsInvestment Type Fair Value Less Than 1 Year
Governmental and Enterprise
1,703,704
Money Market / Liquid Assets
Illinois Funds
Mutual Funds
$ 64,094,785 $ -
2,780,506 - Certificate of Deposits
$ 20,012,214
41,302,065
-
Total Governmental and Enterprise
Investment Fund
Investment Maturities (In Years)
IMET Money Market
6,768,042
$ 20,012,214
$ 65,798,489
$ 1,434,978
8,819,858
$ -
2,780,506
Illinois Funds $ 1,434,978
$ 2,729,663
308,463
JP Morgan Money Market
Investment Type
$ 20,012,214
First Bank Money Market
Fidelity Money Market
1,297,021
89,167
Fair Value
Vanguard Money Market
Total Township Investment
As of February 28, 2009, the City has the followinginvestments and maturities. The fair value of the Illinois Funds
is the same as the value of the pool shares.
41,302,065
$ -
-
-
-58-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS - Continued
C. Types of Investments - continued
Equities
$ -
30,880,994
-
-
-
-
-
6,455,343
$ 37,336,337
6,023,862
1 - 10 More Years
14,524,831
-
905,560
897,945
Less Than 1 Year
12,844,843
1,568,988
575,814
32,449,982
U.S. Treasuries
277,728
13,750,403
15,100,645
Common Stock 6,455,343 -
1,643,839
7,656,762
Fannie Mae
-
129,131
$ 92,338,596 $ 11,914,807 $ 43,087,452
1,278,033
1,366,111
$ 9,253,034
JP Morgan Money Market 4,733,935
Schwab Money Market 1,435,587
Total Fire and Police Investment
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 AAAm 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 InvestmentCompanyAct of 1940. Investmentsin Illinois Funds and IMET are
valued at the fund’s share price, the price for which the investments could be sold. 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.
6,028,588 4,726 Ginnie Mae
6,758,817
$ -
Investment Maturities (In Years)
Fair Value
$ 9,253,034 $ 9,253,034 Money Market / Liquid Assets
Fire and Police Pension
JP Morgan Trust Money Market $ 444,000
Smith Barney Money Market
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.
MB Bank Money Market
IMET Money Market Convenience
1,232,348
Federal Home Loan Bank
Federal Home Loan Mortgage Corp
Mutual Funds
Investment Type
-59-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS - Continued
C. Types of Investments - continued
D. Deposits
City
Township
Fiduciary
E. Reconciliation of Unrestricted and Restricted Cash and Investments
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:
At March 31, 2008, the carrying amount of the Township's deposits was $234,792. The financial institutions'
balances totaled $244,065.
Deposits consist of deposits in interest-bearing and noninterest-bearing accounts. At February 28, 2009, the
carrying amount of the Pension's deposits was $927,378 and $21,073 for Agency. The financial institutions'
balances totaled $900,264 and $21,073, respectively.
Concentration of Credit Risk.It is the policy of the City to diversifyits investment portfolio.Investments shall be
diversified to eliminate the risk of loss resulting in overconcentration in a security, maturity, issuer, or class of
securities.
Deposits consist of deposits in interest-bearing and noninterest-bearing checking accounts. At February 28, 2009,
the carrying amount of the City's deposits, including cash on hand of $16,311, was $25,564,935. The financial
institutions' balances totaled $26,463,161.
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.
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 filed by the counterparty's
trust.
-60-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS – Continued
E. Reconciliation of Unrestricted and Restricted Cash and Investments - Continued
Unrestricted cash and equivalents $ 83,019,368
Unrestricted investments 1,703,704
Restricted cash and equivalents and investments 8,310,124
Total Cash and Investments – Primary Government 93,033,196
Fiduciary funds cash and equivalents 10,201,484
Fiduciary funds investments 83,085,561
Total Cash and Investments $ 186,320,241
Carrying amount of deposits – from Note 4 D $ 26,748,178
Investments – from Note 4 C 159,572,063
Total $ 186,320,241
-61-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 5. RECEIVABLES
A. Summary of Receivables
Motor Vehicle Nonmajor
General Parking and Other
Fund Water Sewer System Funds Total
Receivables:
Property taxes $ 15,285,561 $ - $ - $ - $ 36,656,331 $ 51,941,892
Accounts - 1,763,056 2,386,268 - - 4,149,324
Notes - - - - 6,547,883 6,547,883
Special assessments - - - - 886,662 886,662
Accrued interest - 15,017 - - 298,856 313,873
Other 2,808,053 6,887 - 39,857 288,094 3,142,891
Gross receivables 18,093,614 1,784,960 2,386,268 39,857 44,677,826 66,982,525
Less: allowance for
uncollectibles 289,913 - - - 905,401 1,195,314
Net total receivables $ 17,803,701 $ 1,784,960 $ 2,386,268 $ 39,857 $ 43,772,425 $ 65,787,211
Net total receivables $ 65,787,211
B. Notes Receivable – Special Revenue Funds
Beginning Loans Loan End of
of Year Made Repayments Year
$ 6,047,185 $ 589,663 $275,614 $6,361,234
Receivables as of year - end for the government’sindividualmajor funds, nonmajor, internalservice 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 rehabilitationof single-familyand multi-familyhousing. Initialfundingfor these loans was from
CommunityDevelopment 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) amortizingloans which are due in monthlyinstallmentsover 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 additionalrehabilitationloans. An allowance of $90,000 exists in the Special Revenue funds due to doubtful accounts.
Loan activity for the current year is summarized as follows:
Rates
Interest
0% - 8%
Out of the total Notes Receivable,$6,337,883 is not expected to be paid duringthe next year. Out of the total Special Assessmentreceivable,
$416,662 is not expected to be paid during the next year.
-62-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 6. CAPITAL ASSETS
A. Capital Asset Activity
Capital asset activity for the year ended February 28, 2009, was as follows:
Governmental activities:
Capital assets, not being depreciated:
Land
Right of way
Property held for resale
Artwork
Construction in progress
Total capital assets, not being depreciated
Capital assets, being depreciated:
Buildings and improvements
Office equipment and furniture
Machinery and equipment
Infrastructure
Library collections
Capitalized leases
Total capital assets being depreciated
Less accumulated depreciation for:
Buildings and improvements
Office equipment and furniture
Machinery and equipment
Infrastructure
Library collections
Capitalized leases
Total accumulated depreciation
Total capital net assets being depreciated, net
Governmental activities capital assets, net
40,000 - 40,000 -
Beginning of
Year
80,251,917
18,695,896
4,146,126
29,808,642
6,556,620$
10,079,103
21,315,006
102,238,955
10,108,678
729,644
224,723,303
27,049,920
7,722,254
15,175,901
49,229,673
7,921,916
670,627
107,770,291
116,953,012
146,761,654$
-$
-
2,734,494
2,774,494
107,258
351,358
1,925,231
8,159,932
1,229,801
1,035,370
12,808,950
1,815,434
1,328,110
1,363,525
3,415,137
578,570
13,115
8,513,891
4,295,059
7,069,553$
DeletionsAdditions
-$
-
1,357,852
1,357,852
-
-
1,470,941
-
-
-
1,470,941
-
-
-
1,415,997
-
114,868,185 1,415,997
52,644,810
152,418,411$
121,193,127
683,742
8,500,486
15,123,429
9,050,364
28,865,354
236,061,312
1,765,014
End of Year
31,225,284
5,522,768
21,769,296
10,430,461
80,359,175
18,695,896
6,556,620$
410,000
11,338,479
110,398,887
- 410,000 -
1,412,796$
-
54,944
-63-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 6. CAPITAL ASSETS - Continued
A. Capital Asset Activity - Continued
Deletions
Business-type activities:
Capital assets, not being depreciated:
Land -$
Construction in progress 17,484,912
Artwork -
Total capital assets, not being depreciated 17,484,912
Capital assets, being depreciated:
Land improvements -
Buildings and improvements -
Leasehold improvements -
Plant 31,723
Transmission and distribution system 2,983
Sewer system and underground lines -
Equipment 105,633
Parking meters -
Total capital assets being depreciated 140,339
Less accumulated depreciation for:
Land improvements -
Buildings and improvements -
Leasehold improvements -
Plant 10,121
Transmission and distribution system 2,983
Sewer system and underground lines -
Equipment 99,337
Parking meters -
Total accumulated depreciation 112,441
Total capital net assets being depreciated, net 27,898
Business-type activities capital assets, net 17,512,810$
293,761
102,683
1,737,465
968,818
9,837,270
1,832,145
433,965
724,850
679,430
11,446,630
6,232,867
30,566,863 2,993,261
137,916
43,919
377,632,050
707,688 -
16,708,784
32,088,841
231,242,411
2,815,833
72,508,938
302,752
3,563,393
34,402,194
22,307,094
3,297,937$
16,598,950
13,049,389
3,297,937$
18,757,533
3,563,393
72,355,641
32,083,799
30,511,181
-
302,752
153,297
-
3,893,996
390,046
289,070
10,731,901
5,556,420
27,573,602
1,793,566
8,099,805
866,135
12,559,400
65,326
218,683,011
361,063,605
2,856,140
707,688
55,300,545 6,424,215
10,284,569 316,019,731
332,618,681$
305,763,060
328,070,154$ 22,061,337$
61,612,319
36,765
4,691
End of Year
11,776,768
11,776,768
-$
- 251,624
Additions
251,624
Beginning
of Year
-64-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
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 $ 1,337,304
Public safety 535,194
Public works 4,352,357
Recreation and cultural opportunities 2,289,036
Total depreciation expense – governmental activities $8,513,891
Business – type activities:
Water $1,417,334
Sewer 3,033,718
Motor Vehicle Parking 1,973,163
Total depreciation expense – business – type activities $6,424,215
B. Construction Commitments
$2,514,233
641,911
2,215,105
$5,371,249
The value of construction contracts signed, where the work has not yet been performed at February 28, 2009, is as follows:
Capital Improvement Fund
Water Fund
Sewer Fund
Total Construction Commitments
-65-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 7. INTERFUNDS
A. Interfund Accounts
At February 28, 2009 interfund receivables and payables consist of the following:
Governmental Funds
General Fund
Emergency Telephone System
Economic Development
Fleet Service
Insurance
Community Development Block Grant
Central Business Tax Increment District
Capital Improvements
Motor Vehicle Parking System
Water
Sewer
Neighborhood Improvement Fund
Howard Hartrey Tax Increment Disctrict
Special Assessment CP Fund
Firefighters Pension
Police Pension
Howard Ridge Tax Increment Disctrict
Southwest Tax Increment Disctrict
Washington National Tax Increment District
Total General Fund
Capital Improvements
General
Total Capital Improvements
Nonmajor Governmental Funds
Howard Ridge Tax Increment District
General
Economic Development
General
Emergency Telephone System
General
HOME
Community Development Block Grant
Community Development Block Grant
General
HOME
Community Development Loan
Affordable Housing
Total Community Development Block Grant
3,540 -
6,955
-
-
104,046
49,593
16,008 18,389
-
- 5
-
12,730
67,977
-
-
133,437
67,977 -
34
17,265
23,275
29,760
12
- 22
5
-
-
21,748
-
290,877
-
-
-
67,977
144
-
-
43,518
Due from
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.
Due to
Other Funds
-
$ - $ 12,730
Funds Other Funds
6,955
-
-
40,000
3,690
-
-
21,748
16,008
1,434
- 16,008
-
-
- 10,000
-66-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 7. INTERFUNDS - Continued
A. Interfund Accounts - Continued
Nonmajor Governmental Funds - Continued
Community Development Loan
Community Development Block Grant
Neighborhood Improvement Fund
General
Howard Hartrey Tax increment District
General
Special Service District No. 4
Debt Service Fund
Employer Pension Contribution
Firefighters Pension
Police Pension
Total Employer Pension Contribution
Town
General Assistance
General Assistance
Town
Affordable Housing
Community Development Block Grant
Southwest Tax Increment District
Debt Service Fund
General
Total Southwest TIF
Washington National Tax Increment District
General
Washington National Capital Projects
Total Washington National TIF
Debt Service Fund
Special Service District No. 4
Southwest Tax Increment District
Special Assessment CP Fund
Sewer
Motor Vehicle Parking System
Total Debt Service
Central Business Tax Increment District
General
Washington National Capital Projects
Washington National Tax Increment District
Special Assessment CP Fund
General
Debt Service Fund
Total Special Assessment
Total Nonmajor Governmental Funds
Total Governmental Funds
Due to
34
90,000
144
328,944
-
366,947
Other Funds
$ -
-
5,492,411
34
Funds Other Funds
-
90,000
328,944
-
1,434$
-
-
25,000
1,217,259
850,312 -
-
-
250,000
-
1,167,751
250,000
443,944
-
10,000
Due from
-
-
-
5,358,974 808,897
3,690
3,690
250,000
328,944
-
25,000
22,051 -
40,000
3,378,398
1,594,706
1,783,692
-
-
-
22
22 90,000
-
12
-
- 22,051
-67-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 7. INTERFUNDS - Continued
A. Interfund Accounts - Continued
Enterprise Funds
Water
General
Sewer
General
Debt Service
Total Sewer
Motor Vehicle Parking System
General
Debt Service
Total Motor Vehicle Parking System
Total Enterprise Funds
Internal Service Funds
Fleet Services
General
Insurance
General
Total Internal Service Funds
Trust and Agency Funds
Firefighters Pension
Employer Pension Contribution
General
Firefighters Pension
Police Pension
Employer Pension Contribution
General
Police Pension
Total Trust and Agency Funds
Total Primary Government
-
1,594,706 17,265
29,760 1,783,692
Other Funds
Due to
-
3,378,398
-
366,947
366,947
850,312
-
-
-
47,058
47,025
-$ 104,046$
23,275
Due from
43,518
176,914
23,275
Funds Other Funds
1,217,259
-
3,540
49,593
-
-
$ 5,763,408
17,265
29,760
$ 5,763,408
1,594,706 -
1,783,692
49,593
- 850,312
-68-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 7. INTERFUNDS - Continued
B. Interfund Transfers
At February 28, 2009 transfers in / out consist of the following:
Governmental Funds
General Fund
Affordable Housing Fund
Central Business Tax Increment District
Washington Natl. Tax Increment District
Howard Hartrey Tax Increment District
Southwest Tax Increment District
Capital Improvement Fund
Water Fund
Howard Ridge Tax Increment District
Motor Fuel Tax Fund
Motor Vehicle Parking System
Total General Fund
Capital Improvements
General
Total Capital Improvement
Nonmajor Governmental Funds
Economic Development
Maple Avenue Garage
Affordable Housing Fund
General
Community Development Block Grant
Community Development Loan
Community Development Loan
Community Development Block Grant
-
2,778,600
141,600
Transfers
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.
-
-
300,000
-
24,000
57,700
-
-
-
-
Transfers
24,000$
Funds
325,000
772,500
5,415,600
-
57,700
777,500
-
650,000
-$
-
-
-
-
300,000
-
-
Out
24,100
300,000
In
151,900
120,400
-69-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 7. INTERFUNDS - Continued
B. Interfund Transfers - Continued
Nonmajor Governmental Funds - Continued
Town
General Assistance
General Assistance
Town
General Obligation Debt Service Fund
Special Assessment
Total General Obligation Debt
Central Business Tax Increment District
General
Sherman Garage
Maple Avenue Garage
Total Central Business Tax Increment
District
Southwest Tax Increment District
General
Howard Hartrey Tax Increment District
General
Howard Ridge Tax Increment District
General
Washington National Tax Increment District
General
Sherman Garage
Total Washington National
Special Assessment
General Obligation Debt
Total Special Assessment
Motor Fuel Tax
General
Total Nonmajor Governmental Funds
Total Governmental Funds
325,000
-
-
-
6,797,829
4,600,000
1,872,829
24,100
- 120,400
141,600
5,300,000
-
511,644
5,451,900
14,493,973
14,793,973
328,944 -
328,944
In
125,000$
Transfer
OutFunds
-$
Transfer
-
125,000
-
-
-
-
-
5,927,244
-
328,944
-
-
328,944
- 772,500
151,900
-70-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 7. INTERFUNDS - Continued
B. Interfund Transfers - Continued
Enterprise Funds
Water
General
Total Water
Motor Vehicle Parking System
General Fund
Sherman Garage
Maple Avenue Garage
Nonmajor Enterprise Funds
Sherman Garage
Washington Natl. Tax Increment District
Central Business Tax Increment District
Motor Vehicle Parking System
Maple Avenue Garage
Central Business Tax Increment District
Economic Development
Motor Vehicle Parking System
Total Maple Avenue Garage
Total Nonmajor Enterprise Funds
Total Enterprise Funds
Total Primary Government
C. Capital Contribution
Capital contributions were made from governmental activities to the Motor Vehicle Parking System fund in the amount of $338,307,
Sherman Garage fund in the amount of $13,936 and Sewer fund in the amount of $250,000.
7,172,829 4,901,718
1,872,829
650,000
-
-
- 4,901,718
4,901,718 -
Out
-
37,393,887
33,837,787
5,300,000 -
777,500
-
33,837,787
52,187,860$ 52,187,860$
46,260,616
12,422,829
28,936,069
Transfer
Funds In
Transfer
777,500
- 2,778,600
-$ 2,778,600$
28,936,069
28,936,069 -
- 4,600,000
5,250,000
-71-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 8. Operating Leases
The following are the oustanding lease agreements as of February 28, 2009:
Number Monthly
Leasing Co.Expiration of Copiers Payment Location
GE Capital 10/01/09 5 $ 1,243 Police Dept.
GE Capital 04/18/09 1 247 Police Dept.
GE Capital 03/02/09 2 2,138 Civic Center
GE Capital 03/02/09 3 2,346 Civic Center
GE Capital 12/25/09 1 209 Civic Center
GE Capital 11/19/09 1 367 Chandler Center
Great America Leasing 04/25/10 6 2,541 Civic Center
Minimum annual lease payments are as follows:
Fiscal year ending 2010 $ 60,023
Fiscal year ending 2011 5,082
65,105$
The City of Evanston has various operating leases covering the rental of several digital office copiers from the GE Capital and
Great America Leasing. The copiers are located in the Evanston Civic Center, Recreation Department and the Evanston Police
and Fire Station.
-72-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 9. LONG-TERM DEBT
A. Changes in Long-Term Debt
Final
Interest Maturity Balance Balance Due Within
Rate Date 3/1/2008 Issued Refundings Payments 2/28/2009 One Year
G.O. Debt Governmental Activities
Series 1998 4.80%-4.875% 12/1/2018 $ 480,000 $ - $ - $ 480,000 $ - $ -
Series 1999 4.25%-5.00% 12/1/2019 11,175,000 - 9,830,000 1,345,000 - -
Series 2000C Variable Rate 12/1/2021 3,400,000 - - 3,400,000 - -
Series 2000D Variable Rate 12/1/2021 3,900,000 - 3,900,000 - - -
Series 2002C 5.00%-5.80% 1/1/2022 5,060,000 - - 705,000 4,355,000 695,000
Series 2003 2.00%-5.00% 1/1/2010 1,405,000 - - 825,000 580,000 580,000
Series 2003B 2.00%-5.25% 1/1/2023 3,560,000 - - 85,000 3,475,000 330,000
Series 2004 2.00%-5.00% 12/1/2023 12,940,000 - - 150,000 12,790,000 150,000
Series 2004B 2.00%-5.25% 12/1/2017 10,215,000 - - 1,340,000 8,875,000 1,415,000
Series 2005 3.25%-5.00% 12/1/2025 16,130,000 - - 105,000 16,025,000 585,000
Series 2006 3.85%-5.00% 12/1/2026 10,170,000 - - 120,000 10,050,000 120,000
Series 2006B 4.00%-4.25% 12/1/2023 14,430,000 - - - 14,430,000 -
Series 2007 4.00%-5.00% 12/1/2016 23,175,000 - - 1,035,000 22,140,000 1,250,000
Series 2008A 3.00%-5.00% 12/1/2021 - 3,800,000 - - 3,800,000 195,000
Series 2008C 3.00%-5.00% 12/1/2019 - 9,965,580 - - 9,965,580 341,700
Series 2008D 3.25%-5.00% 12/1/2016 - 9,475,556 - - 9,475,556 1,206,701
Subtotal Governmental Activity G.O. Debt 116,040,000 23,241,136 13,730,000 9,590,000 115,961,136 6,868,401
G.O. Special Service District #5 Series 2002C 5.00%-5.80% 1/1/2016 2,460,000 - - 295,000 2,165,000 305,000
Subtotal G.A. Special Service District #5 G.O. Debt 2,460,000 - - 295,000 2,165,000 305,000
Capital lease - 1,035,370 - - 1,035,370 326,818
Bonds premium liability 4,861,441 804,606 - 628,588 5,037,459 -
OPEB liability 302,471 350,684 - - 653,155 -
Pension contributions 18,442,618 13,161,386 - 14,294,084 17,309,920 -
Compensated absences payable- City 10,463,525 6,898,467 - 6,542,099 10,819,893 5,369,815
Claims payable 6,628,452 (300,255) - 969,597 5,358,600 2,395,337
Subtotal Other G.A. Liabilities 40,698,507 21,950,258 - 22,434,368 40,214,397 8,091,970
Total Governmental Activity Debt & Liabilities 159,198,507$ 45,191,394$ 13,730,000$ 32,319,368$ 158,340,533$ 15,265,371$
-73-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 9. LONG-TERM DEBT - Continued
A. Changes in Long-Term Debt - Continued
Final
Interest Maturity Balance Balance Due Within
Rate Date 3/1/2008 Issued Refundings Payments 2/28/2009 One Year
G.O. Debt Business-type Activities
Series 1999 Parking 4.25%-5.00%12/1/2019 1,055,000$ -$ 960,000$ 95,000$ -$ -$
Series 1999 Sewer 4.25%-5.00%12/1/2019 - - - - - -
Series 1999 Sewer 4.25%-5.00%12/1/2019 10,260,000 - 8,795,000 1,465,000 - -
Series 2000A Maple Avenue Garage Variable Rate 12/1/2021 4,000,000 - - 4,000,000 - -
Series 2002A Sherman Garage Variable Rate 12/1/2018 27,700,000 - 27,700,000 - - -
Series 2002B Sherman Garage Variable Rate 12/1/2008 4,500,000 - - 4,500,000 - -
Series 2003 Parking System 2.00%-5.00%1/1/2010 1,200,000 - - 580,000 620,000 620,000
Series 2005 Sherman Garage 3.25%-5.00%12/1/2025 11,465,000 - - 840,000 10,625,000 870,000
Series 2007 Sewer 4.00%-5.00%12/1/2016 5,855,000 - - 840,000 5,015,000 890,000
Series 2008B Sherman Garage 3.00%-5.00%12/1/2018 - 27,755,000 - - 27,755,000 11,320,000
Series 2008C Sewer 3.00%-5.00% 12/1/2018 - 2,429,420 - - 2,429,420 83,300
Series 2008D Parking 3.25%-5.00% 12/1/2016 - 873,307 - - 873,307 106,474
Series 2008D Sewer 3.25%-5.00% 12/1/2016 - 8,666,138 - - 8,666,138 1,576,825
Subtotal Business Activity G.O. Debt 66,035,000 39,723,865 37,455,000 12,320,000 55,983,865 15,466,599
Water Revenue Bond Series 1999 4.125-4.375%1/1/2014 1,640,000 - - 245,000 1,395,000 255,000
Water Revenue Bond Series 2002 2.00-3.75%1/1/2012 1,115,000 - - 265,000 850,000 270,000
Subtotal Water Revenue Bonds 2,755,000 - - 510,000 2,245,000 525,000
Subtotal IEPA Loans 2.535-3.59%Various 103,410,887 5,654,964 - 7,290,628 101,775,223 8,009,410
Unamortized bond Premium and discount (2,413) 17,756 - (34,846) 14,677 -
Bonds premium liability - 1,288,451 - 146,156 1,142,295 -
Compensated absences payable- City 639,352 65,757 - 45,412 659,697 428,708
OPEB Liability 28,172 1,993 - - 30,165 -
Subtotal Other Business Activity Liabilities 665,111 1,373,957 - 156,722 1,846,834 428,708
Total Business Debt & Liabilities 172,865,998 46,752,786 37,455,000 20,277,350 161,850,922 24,429,717
Total Governmental & Business Debt & Liabilities 332,064,505$ 91,944,180$ 51,185,000$ 52,596,718$ 320,191,455$ 39,678,088$
-74-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
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 1,395,000
10/1/2002 1/1/2012 Various 2,355,000 850,000
Total Business type Activities- Water Revenue Bonds 2,245,000
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 160,196,249 101,775,223
Total Business type Activities- IEPA Loan Debt 101,775,223
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 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 and are payable through 2014. Annual payment and
interest on the bonds are expected to require $616,556 of net revenues for Fiscal Year 2009-10. The total
principal and interest remaining to be paid on the bonds is $2,496,545. Principal and interest paid for the
current year and total customer net revenues were $620,913 and $5,818,287 respectively.
Business type activities IEPA loans are payable from revenues derived from Sewer service fees. The City
has pledged future revenues, net of operating expenses, to repay principal totaling $160,196,249 in IEPA
loans issued in 1993 through 2008. Proceeds from the loans provided financing for the Long Term Sewer
Improvement Program. The IEPA loans are payable solely from revenues and are payable through 2028.
Annual payment and interest on the bonds are expected to require $10,730,592 of net revenues for the
Fiscal year 2009-10. The total principal and interest remaining to be paid on the loans is $121,190,455.
Principal and interest paid for the current year and total customer net revenues were $9,908,346 and
$11,554,269 respectively.
-75-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 9. LONG-TERM DEBT - Continued
B. General Obligation Bonds Payable
In July 28, 2005, the City issued Series 2005 $29,270,000 in General Obligation bonds at a net interest cost of
3.893986%. The proceeds are being used to partially refund $6,350,000 of the 1998 bonds, pay a portion of the
costs of Capital Improvement Program, finish constructing the Sherman Garage, and pay for additional Special
Assessment Alley program.
In May 13, 2004, the City issued Series 2004 $13,355,000 in General Obligation bonds at a net interest cost of
4.6291740%. The proceeds are being used to partially finance the City's Long Range Capital Improvement
Program and Special Assessment Alley program.
In July 27, 2004, the City issued Series 2004B $11,730,000 in General Obligation bonds at a net interest cost of
3.739542%. The proceeds are being used to partially refund $11,085,000 of the 1997 bonds.
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.
In November 2001, the City entered into an interest rate swap agreement with Bank of America relating to the
City's $19,000,000 General Obligation (G.O.) Variable Rate Demand Bonds, Series 2000A and the $10,400,000
Variable Rate Demand Bonds, Series 2000C with a fixed rate of 3.125% effective 12/1/01 through 11/30/05. In
November 2002, the City entered into a rate cap agreement with JP Morgan Chase Bank relating to the City's
$35,000,000 G.O. Variable Rate Demand Bonds, Series 2002 A and B, with a cap rate of 4.75% effective 12/1/02
through 11/30/2005.
In March, 2003, the City issued $16,430,000 in General Obligation bonds with an average interest rate of 3.27% to
advance refund $15,895,000 of outstanding 1993 Series bonds with an average interest rate of 4.04%. The
advance refunding resulted in a difference between the reacquisition price and the net carrying amount of the old
debt of $538,201. This difference, reported in the accompanying financial statements as a bond premium liability,
is being charged to operations through the year 2011 using the straight-line method. The proceeds from the new
bond issue were used to establish an escrow account and those monies were used to fully payoff the 1993 bonds on
June 1, 2003. The City completed the advance refunding to reduce its total debt service payments over the next
seven years by $1,149,266 and to obtain an economic gain (difference between the present values of the old and
new debt service payments) of $1,065,550.
In May, 2003, the City issued Series 2003B $11,485,000 in General Obligation bonds at a net interest cost of
4.4900825%. The proceeds are being used to partially finance the City's Long Range Capital Improvement
Program.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 9. LONG-TERM DEBT - Continued
B. General Obligation Bonds Payable - Continued
Annual debt service requirements to maturity for general obligation bonds are as follows:
Year Ending Governmental Activities
February 28 Principal Interest Principal Interest
2010 6,868,401 5,267,142 15,466,599 2,392,031
2011 6,975,518 5,027,211 5,134,483 1,852,922
2012 7,478,538 4,727,326 5,211,463 1,624,578
2013 7,950,448 4,425,478 5,919,551 1,400,628
2014 8,283,876 3,995,066 4,131,124 1,173,265
2015-2019 37,918,374 14,560,916 18,651,626 2,894,938
2020-2024 28,250,160 6,835,494 644,840 305,954
2025-2028 12,235,821 1,476,380 824,179 127,640
Total 115,961,136 46,315,013 55,983,865 11,771,956
In July 19, 2006, the City issued Series 2006 $10,290,000 in General Obligation bonds at a net interest cost of
4.793401%. The proceeds are being used to partially finance the City's Long Range Capital Improvement
Program and Special Assessment Alley program
Business-type Activities
In December 27, 2006, the City issued Series 2006B $14,430,000 in General Obligation bonds at a net interest
cost of 4.206030%. The proceeds are being used to partially refund $6,480,000 of the 2002C bonds and
$7,270,000 of the 2003B bonds. This will result in net cash savings on $769,505 which translates to a net present
value savings of $665,226.
On May 24, 2007 the City issued Series 2007 $30,385,000 in General Obligation bonds at a net interest cost of
4.191092%. The proceeds are being used to current refund $11,970,000 of the City's Series 1997, advance refund
$3,585,000 of the City's outstanding Series 1999 Bonds and provide $14,830,000 for capital improvement needs.
This will result in net cash savings of $1,073,395 which translates to a net present value savings of $858,467.
On May 7, 2008 the City issued Series 2008A/B/C in General Obligation bonds for a total of $43,950,000 at a net
interest cost of 3.7415324%. The proceeds are being used to current refund and remarket to fixed rates $3,900,000
of 2000D variable bonds and $27,700,000 of 2002A variable bonds with the remainder of $12,395,000 to finance
a portion of the current Capital Improvement plan of the City.
On December 10, 2008, the City issued Series 2008D for a total of $19,015,000 at a net interest cost of 3.05%.
The proceeds are being used to current refund the outstanding balance of Series 1999. This will result in a net
cash savings of $1,081,086 which translates to a net present value savings of $940,979.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 9. LONG-TERM DEBT - Continued
C. Special Service District Bonds Payable
Annual debt service requirements to maturity for special assessment bonds are as follows:
Year Ending
February 28 Principal Interest
2010 305,000 128,313
2011 325,000 113,063
2012 335,000 96,813
2013 345,000 80,063
2014 385,000 61,950
2015-2016 470,000 63,001
Total 2,165,000 543,203
D. Revenue Bonds Payable
Revenue bond debt service requirements to maturity are as follows:
Year Ending
February 28 Principal Interest
2010 525,000 91,556
2011 550,000 71,269
2012 575,000 49,344
2013 290,000 26,032
2014 305,000 13,344
Total 2,245,000 251,545
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.
Governmental Activities
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.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 9. LONG-TERM DEBT - Continued
E. Notes Payable - Sewer IEPA Loans
Notes payable – Sewer IEPA debt service requirements to maturity are as follows:
Year Ending
February 28 Principal Interest
2010 8,009,410 2,721,182
2011 8,242,107 2,488,393
2012 8,481,677 2,248,729
2013 8,605,653 2,001,982
2014 8,163,724 1,754,587
2015-2019 34,086,498 5,701,518
2020-2024 18,751,996 2,091,788
2025-2029 7,434,158 407,053
Total 101,775,223 19,415,232
F. Prior Years' General Obligation Bond Defeasances
In 2005, the City defeased a portion of Series 1998 Corporate Purpose bonds, by placing a portion of the proceeds
of Series 2005 in an irrevocable Escrow Account.
In 2006, the City defeased a portion of Series 2002C and 2003B Corporate Purpose bonds, by placing a portion of
the proceeds of Series 2006B in an irrevocable Escrow Account.
In 2007, the City defeased Series 1999 and a portion of Series 1997 by placing a portion of the proceeds of Series
2007 in an irrevocable Escrow Account.
Business-type Activities
In 1999, the City defeased a portion of Series 1994, Series 1995, and Series 1996 Corporate Purpose bonds, by
placing a portion of the proceeds of Series 1999 Bonds in an irrevocable trust to provide for the advance refunding
of the callable portion of the bonds.
In 2004, the City defeased a portion of Series 1997 Corporate Purpose bonds, by placing a portion of the proceeds
of Series 2004B in an irrevocable Escrow Account.
During the fiscal year ended February 28, 2009, the City currently has 26 outstanding loans from the IEPA. The
City will repay the loans solely from revenues derived from the sewer 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.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 9. LONG-TERM DEBT - Continued
F. Prior Years' General Obligation Bond Defeasances - Continued
Original Outstanding
G.O. Series Amount Defeased Defeased Amounts
1996 9,765,000 9,765,000
1998 6,350,000 6,350,000
1999 (partial)3,585,000 3,585,000
2002C 6,480,000 6,480,000
2003B 7,270,000 7,270,000
Series
2002C 4,355,000
2003B 3,475,000
G. Prior Years' Special Service District #5 Bond Defeasances
Special Service Original Amount Outstanding
District #5 Defeased Defeased Amounts
1995 1,990,000 1,990,000
1996 1,620,000 1,620,000
The trust account assets and the liabilities for the defeased bonds are not included in the City’s financial
statements. At February 28, 2009, the following remaining outstanding balances are considered defeased:
The outstanding balances of Series 2002C and 2003B, not defeased at February 28, 2009, are recorded as a
liability in the City’s financial statements. Those balances are as follows:
In 2003, the City defeased a portion of Special Service District #5 Series 1995 and 1996 bonds by placing a
portion of the proceeds of Series 2002C in an irrevocable escrow account.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 9. LONG-TERM DEBT - Continued
H. Post Employment Benefits other than Pensions (Defined Benefit Plan)
Annual required contribution $ 709,660
Interest on net OPEB obligation 14,880
Adjustment to annual required contribution (40,800)
Annual OPEB cost 683,740
Contributions made (331,063)
Increase in net OPEB obligation 352,677
Net OPEB obligation - Beginning of Year 330,643
Net OPEB obligation - End of Year $ 683,320
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.
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 $369 for single coverage to $1,579 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 $369 for single coverage to $1,579 for family coverage. For fiscal year 2009, the City
contributed $331,063 to the plan. 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. The following table shows the components
of the City of Evanston's annual OPEB cost for the year, the amount actually contributed to the plan and changes
in the City's net OPEB obligation to the retiree health plan.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 9. LONG-TERM DEBT - Continued
H. Post Employment Benefits other than Pensions (Defined Benefit Plan) - Continued
Percentage of
Fiscal Year Annual OPEB Annual OPEB Net OPEB
Ended Cost Cost Contributed Liability
2/29/2008 $680,975 51.45% $ 330,643
2/28/2009 $683,740 48.42% $ 683,320
Actuarial accrued liability (AAL)$ 7,634,991
Actuarial value of plan assets -
Unfunded Actuarial Accrued Liability (UAAL)$ 7,634,991
Funded ratio (actuarial value of plan assets/AAL)-
Covered payroll (active plan members)$ 50,230,393
UAAL as a percentage of covered payroll 15.20%
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.
The funded status of the plan as of March 1st, 2008, the most recent actuarial valuation date, was as follows:
The City of Evanston's annual OPEB cost, the percentage of annual OPEB cost contributed to the plan and the net
OPEB obligation for 2009 were as follows.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 9. LONG-TERM DEBT - Continued
H. Post Employment Benefits other than Pensions (Defined Benefit Plan) - Continued
I. Capital Leases
Fiscal year ending Amount
2010 $ 383,764
2011 383,764
2012 383,764
Total minimum lease payments 1,151,292
Less: amount representing interest (115,922)
Present value of minimum lease payments $ 1,035,370
The City has entered into lease agreements as lessee for financing the acquisition of Accela Systems for Permit
records. These lease agreements qualify as capital leases for accounting purposes and, therefore the assets and
obligations have been recorded at the present value of the future minimum lease payments as of February, 28 2009.
At February 28, 2009 $1,035,370 of amounts included in capital assets were acquired via capital leases. The
obligation for the capital leases will be repaid from the Governmental Funds. The future minimum lease
obligations and the net present value of these minimum lease payments as of February 28, 2009 are as follows:
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.
In the March 1, 2008 actuarial valuation, 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 9.50 percent initially,
reduced by decrements to an ultimate rate of 4.50 percent after 10 years. 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 remaining amortization period at March 1, 2008, was 29 years.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
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 $42,249,545
Police Pension Fund Restriction for employee pension benefits 54,618,269
Total Fiduciary Funds $96,867,814
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 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.
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.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 10. FUND EQUITY - Continued
C. Reservations of Fund Equity
General Fund
Reserved for encumbrances $22,326
Reserved for Arts Council 32,094
Reserved for private elm trees 162,438
Reserved for parkway trees 223,216
Reserved for Butterfield sculpture 31,833
Reserved for scholarship contributions 32,753
Reserved for public library acquisitions 120,271
Reserved for recreation group activities 207,123
Reserved for youth initiative 42,150
Other reserves 400,358
Total General Fund 1,274,562
Special Revenue Funds
Reserved for HUD approved Projects 410,000
Reserved for notes receivable 6,361,234
Total Special Revenue Funds 6,771,234
Debt Service Funds
Reserved for debt service 24,985,425
Total Reserved Fund Equity - Governmental Funds $33,031,221
Reservations are used to segregate portions of fund equity which are either legally restricted for specific purposes are not
"available spendable resources." The following reservations are reported:
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 10. FUND EQUITY - Continued
D. Unrestricted Fund Equity - Designated
The City has designated certain amounts of unrestricted fund equity for the following purposes:
General Fund
IMRF - Pension $ 2,590,000
Compensated Absences 2,576,360
Capital projects to be financed in a future period 260,553
Total General Fund 5,426,913
Special Revenue Funds
Specific capital projects
Motor Fuel Tax 1,072,522
Library 2,014,301
3,086,823
Legal Liabilities
Township 78,782
Total Special Revenue Funds 3,165,605
Capital Projects Funds
Specific capital projects
Capital Improvements 13,190,483
Tax Increment Districts 3,219,840
Special Assessment 4,488,787
Total Capital Projects Funds 20,899,110
Unrestricted Fund Equity - Designated $29,491,628
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
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 Central
Business, Southwest, Washington National, and Howard Hartrey Tax Increment Districts; revenues from the Motor
Vehicle Parking System Fund associated with the 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 effecton March 1, 1997 and continues in effectfor 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 ServiceDistrict
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 2008 was $522,854 which included a deficiencyin tax levy amount
of $187,662.
The ordinance also authorized the City to enter into an agreement with EVMARK, INC., 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 Fiscal Year Ending February 28, 2009
NOTE 12. RISK MANAGEMENT - CLAIMS AND JUDGMENTS
The changes in the balances of claims liabilities during the past two fiscal years are as follows:
Workers’ General
Compensation Liability Total
February 28, 2007 $ 2,801,201 $ 2,894,999 $ 5,696,200
New claims and/or estimate revisions 1,075,507 251,016 1,326,523
Claims payments (283,255) (111,016) (394,271)
February 29, 2008 3,593,453 3,034,999 6,628,452
New claims and/or estimate revisions 1,235,778 (1,536,033) (300,255)
Claims payments (564,894) (404,703) (969,597)
February 28, 2009 $ 4,264,337 $ 1,094,263 $5,358,600
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 coverdamage to City facilities and contents and other losses including business interruption and loss of rents.
The coverage is subject to a deductible of $75,000 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, specificexcess coveragein excess of $500,000 per occurrenceis purchased from a commercial
insurance company. For general liability claims, the City retains risk of loss.
No cases have exceeded the amount of insurance coverage for the past three years.
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-reimbursementbasis.
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.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 13. CONTINGENCIES
NOTE 14. JOINT VENTURES
A. Solid Waste Agency of Northern Cook County
The Agency is a municipal joint action agency created as of May 2, 1988 under the provisions of the Intergovernment
Cooperation Act, 5 ILLCS 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 ExecutiveCommittee of
the Agencyconsists of seven persons electedby 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.
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 developedby 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.
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 expenditureswhich may be disallowed by the grantor cannot be determined at
this time although the City expects such amounts, if any, to be immaterial.
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.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 14. JOINT VENTURES – Continued
A. Solid Waste Agency of Northern Cook County - Continued
Summary of Financial Position as of April 30, 2008:
Current assets $5,237,757
Restricted assets 952,279
Property, plant, and equipment 12,739,965
Debt issuance costs, net 87,680
Total assets $19,017,681
Current liabilities $4,769,267
Long-term debt, net of unamortized discount 6,832,203
Invested in capital assets, net of related debt 4,782,762
Restricted for debt service, net of accrued interest 927,596
Unrestricted net assets 1,705,853
Total liabilities and fund equity $19,017,681
Summary of Revenues and Expenses for the Year Ended April 30, 2008:
Total revenues $16,037,930
Total expenses (17,349,294)
Net (loss)$(1,311,364)
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.
-90-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 14. JOINT VENTURES – Continued
B. Evanston Housing Corporation
Statement of Financial Position as of December 31, 2008:
Cash and cash equivalents $833,072
Mortgage loans receivable 2,390,668
Total assets 3,223,740
Payables and accrued expenses 159,740
Notes payable 3,064,000
Total liabilities 3,223,740
Net Assets $-
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 City of Evanston advanced funds to the Corporation under two secured promissory notes, one for $500,000 and the
other for $214,287. The notes are payable on or before November 30, 2009 and April 30, 2030, respectively. 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 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 receivableand 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-profithousing mortgage corporationby
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.
The audited financial statements of Evanston Housing Corporation for the year ended December 31,2008 are summarized
as follows:
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 14. JOINT VENTURES – Continued
B. Evanston Housing Corporation - Continued
Statement of Activities for the Year Ended December 31, 2008:
Total revenues $ 130,699
Total operating expenses (130,699)
Excess of revenues over expenses $-
NOTE 15. DEFERRED COMPENSATION PLAN
Plan balance at February 28, 2009 $27,103,604
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 deferredcompensation
is not available to the participants until termination, retirement, death, or an unforeseeable emergency occurs.
The City provides the Corporation with officespace 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 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 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 Fiscal Year Ending February 28, 2009
NOTE 16. DEFINED BENEFIT PENSION PLANS
Illinois Municipal Retirement Fund
A. Plan Description
B. Funding Status and Progress
The City’s total payrollfor the calendar year ended December31, 2008 was $62,065,285.Of this amount, $34,189,216 in
payroll earnings were reported to and covered by the IMRF system. The Township’s total payroll for the year ended
December 31, 2007 was $338,122. Of this amount, $338,122 in payroll earnings were reported to and covered by the
IMRF plan.
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, which is when the revenue is recognized.
The City created a special revenue fund, the Employer Pension Contribution Fund, to accommodate the 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.
The City maintains two separate single-employerretirement 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 employerpension 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.
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 for calendar year 2008 was 7.53% of payroll. The employercontributionrequirements are established and may
be amended by the IMRF Board of Trustees.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 16. DEFINED BENEFIT PENSION PLANS - Continued
Illinois Municipal Retirement Fund - Continued
C. Annual Pension Cost
Actuarial Percentage
Valuation Annual Pension of APC Net Pension
Date Cost (APC) Contributed Obligation
12/31/08 $ 2,574,448 100%-
12/31/07 2,749,378 100%-
12/31/06 2,665,493 100%-
Three-Year Trend Information for IMRF - City
For December 31, 2008, the City’s annual pension cost of $2,574,448 was equal to the City’s required and actual
contributions. The required contribution was determined as part of the December31, 2006 actuarial valuation using
the entry age actuarial cost method. The actuarial assumptions included (a) 7.50% investment rate of return (net of
administrative expenses), (b) projected salary increases of 4% a year, attributable to inflation, (c) additional
projected salary increases ranging from 0.4% to 11.6% 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 effectsof short-term volatilityin the market value of investments over a
five-year period with a 20% corridor. The assumptions for 2008 pension cost were based on the 2002-2004
experience study. However the 2008 acturial valuation information is based on the 2005-2007 experience study.
IMRF’s unfunded actuarial accrued liability is being amortized as a level percentage of projected payrollon a closed
basis. The remaining amortization period at December 31, 2008 was 24 years.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
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
12/31/07 $ 20,253 100%-
12/31/06 20,372 100%-
12/31/05 20,476 100%-
Police and Firefighters' Pension Plans
D. Plan Descriptions
For December31, 2007, the Township’s annual pension cost of $20,253 was equal to the Township’s required and actual
contributions. The required contribution was determined as part of the December 31, 2005 actuarial valuation using the
entry age actuarial cost method. The actuarial assumptions included (a) 7.50% investment rate of return (net of
administrative expenses), (b) projected salary increases 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 15%
corridor. The assumptions used for the 2007 actuarial valuation were based on the 2002-2004 experience study.
The Police Pension Plan and Firefighters' Pension Plan are contributory,defined benefit public employeeretirementplans
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 employeeretirementsystem or another entity. The City's payroll for police and firefighteremployeescoveredby the
plans for the year ended February 29, 2008 was $12,142,000 and $8,999,000 respectivelyand for February 28, 2009, it
was $12,633,000 and $9,242,000, respectively.
Three-Year Trend Information for IMRF - Township
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 16. DEFINED BENEFIT PENSION PLANS – Continued
Police and Firefighters' Pension Plans - Continued
D. Plan Descriptions - Continued
Participation in the plans at February 28, 2009 was:
Police Firefighters'
Retirees, disabled participants, and beneficiaries of
deceased retirees currently receiving benefits 164 124
Active plan members 160 111
Total 324 235
Police Firefighters'
Pension Fund Pension Fund
Actuarial assumptions:
Investment rate of return 7.25% 7.25%
Projected salary increases 5.00% 5.00%
Attributable to inflation 3.50% 3.50%
Cost of Living Increases 3.00% 3.00%
Any police officeror firefighterwho has creditable serviceof 20 years or more, has reached age 50, and is no longer in the
service, is entitled to a yearlypension equal to 50% of the salary attached to the rank held for one year immediately prior
to retirement 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 firefighterpension 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 Fiscal Year Ending February 28, 2009
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
F. Contributions and Reserves
A police officer or firefighter who retires or is separated from service after accumulating at least eight years for a police
officer and 10 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 for one year immediately prior to retirement or
separation in the case of a police officerand 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 committment 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.
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 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.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 16. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans – Continued
F. Contributions and Reserves – Continued
Police Firefighters'
Annual required contribution $ 7,081,620 $5,828,112
Interest on net pension obligation 804,821 532,269
Adjustment to annual required contribution (653,345) (432,091)
Annual pension cost 7,233,096 5,928,290
Contributions made (7,838,745) (6,455,339)
Increase (decrease) in net pension obligation (605,649) (527,049)
Net pension obligation at March 1, 2008 11,100,974 7,341,644
Net pension obligation at March 1, 2009 $ 10,495,325 $6,814,595
For employercontributions, the City’s budget policy is to fund pension plans at the funding level recommendedannually
by the actuary. The General Fund is used to liquidate the net pension obligation.
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 March 1, 2009 are as follows:
The differencebetween 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.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
NOTE 16. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans – Continued
G. Concentration of Investments
H. Three-Year Trend Information – Pension Trust Funds
Fiscal Annual Pension Percentage of Net Pension
Year Ended Cost (APC)APC Contributed Obligation
Police 2/28/09 $ 7,233,096 115.50 % 10,495,325$
2/29/08 6,789,705 91.52 11,100,974
2/28/07 4,728,814 99.62 8,639,014
2/28/06 4,388,343 106.25 8,237,212
2/28/05 4,157,307 73.87 8,265,927
2/29/04 4,361,218 107.87 7,330,143
Firefighters'2/28/09 $ 5,928,290 115.77 %6,814,595$
2/29/08 5,575,720 98.27 7,341,644
2/28/07 4,234,574 93.89 5,927,461
2/28/06 3,973,339 104.44 5,383,088
2/28/05 3,364,452 80.67 4,923,431
2/29/04 3,091,174 106.37 4,052,686
The required supplementary information immediately follows the Notes to the Financial Statements.
The Firefighters' Pension Trust Fund had no significant investments (other than U.S. Governmentand 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.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
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 5,306,875$ 4,873,536$ 10,180,411$
Receivables
Accrued interest 33,129 247,265 280,394
Due from other funds 1,577,441 1,753,932 3,331,373
Total Receivables 1,610,570 2,001,197 3,611,767
Investments, at fair value
U.S. Government obligations 9,094,220 35,086,017 44,180,237
Common stock 6,455,343 - 6,455,343
Mutual funds 19,789,383 12,660,598 32,449,981
Total Investments 35,338,946 47,746,615 83,085,561
Total Assets 42,256,391 54,621,348 96,877,739
Liabilities
Vouchers payable 6,846 3,079 9,925
Total Liabilities 6,846 3,079 9,925
Net assets held in trust for pension benefits 42,249,545$ 54,618,269$ 96,867,814$
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
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 6,455,339$ 7,838,745$ 14,294,084$
Plan members 782,928 1,125,813 1,908,741
Total Contributions 7,238,267 8,964,558 16,202,825
Investment income
Net appreciation (depreciation) in
fair value of investments (6,586,337) (11,872,451) (18,458,788)
Interest 1,634,295 2,361,539 3,995,834
Total investment income (4,952,042) (9,510,912) (14,462,954)
Less investment expense 185,432 106,691 292,123
Net investment income (5,137,474) (9,617,603) (14,755,077)
Total Additions 2,100,793 (653,045) 1,447,748
Deductions
Benefits 5,144,538 7,222,424 12,366,962
Refunds of contributions - 5,657 5,657
Administrative expense 50,475 25,938 76,413
Total Deductions 5,195,013 7,254,019 12,449,032
Net increase (3,094,220) (7,907,064) (11,001,284)
Net assets held in trust for pension benefits
Beginning of year 45,343,765 62,525,333 107,869,098
End of year 42,249,545$ 54,618,269$ 96,867,814$
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 28, 2009
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, 2009 March 1, 2009
Actuarial cost method Entry-Age Normal Entry-Age Normal
Amortization method Level Percentage of Level Percentage of
payroll, closed period payroll, closed period
Remaining amortization period 24 Years , 4 months 24 Years, 4 months
Actuarial valuation method 4-year smoothed mkt.4-year smoothed mkt.
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:
-102-
REQUIRED SUPPLEMENTARY INFORMATION
-103-
CITY OF EVANSTON, ILLINOIS
Firefighters' Pension Fund, Police Pension Fund, and Illinois Municipal Retirement Fund
Schedules of Funding Progress
Required Supplementary Information
Actuarial Percentage
Actuarial Value of Funded Covered of Covered
Valuation Assets Ratio Payroll Payroll
Date (a)(a/b) ( c ) ((b-a)/c)
Firefighters' Pension
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%
3/1/2004 37,420,932 75,342,794 37,921,862 49.67% 7,376,000 514.13%
Police Pension
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%
3/1/2004 54,469,873 101,824,016 47,354,143 53.49% 10,217,000 463.48%
Illinois Municipal Retirement Fund (City)
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 -
12/31/2006 87,758,900 82,928,874 (4,830,026) 105.82% 32,625,369 -
12/31/2005 82,368,849 79,384,403 (2,984,446) 103.76% 31,403,514 -
12/31/2004 77,206,655 74,129,924 (3,076,731) 104.15% 29,568,219 -
12/31/2003 76,984,367 70,647,540 (6,336,827) 108.97% 29,240,514 -
Illinois Municipal Retirement Fund (Township)
12/31/2007 612,352$ 360,059$ (252,293)$ 170.07% 338,122$ -
12/31/2006 514,875 321,366 (193,509) 160.21% 344,707 -
12/31/2005 413,112 253,244 (159,868) 163.13% 314,044 -
12/31/2004 612,303 450,398 (161,905) 135.95% 325,805 -
12/31/2003 585,069 429,243 (155,826) 136.30% 345,639 -
12/31/2002 810,301 512,878 (297,423) 157.99% 338,707 -
Post Employment Benefits other than Pension
3/1/2009 - 7,634,991$ 7,634,991$ - 50,230,393 15.20%
3/1/2008 - 7,254,074 7,254,074 - 48,531,780 14.95%
Note: See notes to Required Supplementary Information and Auditors' Report.
February 28, 2009
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
February 28, 2009
Annual Annual
Tax Levy Required City's Percentage Required City's Percentage
Year Contribution Contribution Contributed Contribution Contribution Contributed
2008 5,486,699$ N/A N/A 6,659,960$ N/A N/A
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%
2001 2,209,466 2,324,407 105.20% 2,990,038 3,038,432 101.62%
Note: See Auditors' Report.
Firefighters' Pension Fund Police Pension Fund
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CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Required Supplementary Information
Year ended February 28, 2009
Original &
Final Budget Actual Variance
Revenues
Taxes 41,812,900$ 40,274,141$ (1,538,759)
Licenses and permits 8,683,800 8,820,280 136,480
Intergovernmental 16,533,300 16,391,753 (141,547)
Charges for services 8,427,100 8,399,042 (28,058)
Fines 4,341,400 4,442,282 100,882
Investment income 550,000 240,988 (309,012)
Miscellaneous 8,304,500 3,980,418 (4,324,082)
Total Revenues 88,653,000 82,548,904 (6,104,096)
Expenditures
General management and support 14,264,881 12,703,911 1,560,970
Public safety 37,230,000 38,453,815 (1,223,815)
Public works 16,365,400 16,317,586 47,814
Health and human resource development 4,074,200 3,745,632 328,568
Recreation and cultural opportunities 18,854,000 18,450,868 403,132
Housing and economic development 3,584,200 3,301,478 282,722
Total Expenditures 94,372,681 92,973,290 1,399,391
(Deficiency) of Revenues (under) Expenditures (5,719,681) (10,424,386) (4,704,705)
Other Financing Sources (Uses)
Operating transfers in (out)
Motor Fuel Tax Fund 772,500 772,500 -
Housing Fund 24,000 24,000 -
Downtown TIF Debt Service Fund 325,000 325,000 -
Washington National TIF Debt Service Fund 151,900 151,900 -
Howard Hartrey Debt Service 141,600 141,600 -
Southwest TIF I Debt Service Fund 24,100 24,100 -
Howard Ridge TIF 120,400 120,400 -
Capital Improvement Fund 300,000 300,000 -
Parking Fund 777,500 777,500 -
Water Fund 2,778,600 2,778,600 -
Issuance of debt 304,081 304,081 -
5,719,681 5,719,681 -
Excess of Revenues and Other Financing Sources
over Expenditures and Other Financing Uses -$ (4,704,705) (4,704,705)
Fund Balance
Beginning of year 34,614,837
End of year 29,910,132$
Note: See notes to Required Supplementary Information and Auditors' Report.
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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 $ 82,447,766
Increase (decrease) due to budgeting
property taxes as revenue in the year of levy 101,138
Budgetary Basis Revenues $ 82,548,904
Expenditures
GAAP basis expenditures as reported in the
Combined Statement of Revenues,
Expenditures, and Changes in Fund Balances $ 93,088,146
Increase (decrease) due to
Encumbrances - March 1, 2008 (137,182)
Encumbrances - February 28, 2009 22,326
Budgetary Basis Expenditures $ 92,973,290
Note: See Auditors' Report.
The actuarial assumptions used to determine the actuarial accrued liability for 2009 are based on the 2002-2004
Experience Study.
- The 1994 Group Annuity Mortality implemented
Adjustments necessary to convert City revenues and expenditures for the year ended February 28, 2009 on the
GAAP basis to the budgetary basis are presented below:
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GOVERNMENTAL FUND TYPES
-108-
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.
Continued
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.
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.
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.
Economic Development - to account for cost associated with economic development activities of the City.
Financing is provided primarily by real estate transfer tax revenues.
Emergency Telephone System - to account for revenues and expenditures for 911 emergency telephone service.
Financing is provided by network connection surcharges.
Library - 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.
-109-
Township Funds
Town - to account for general adminstrative services.
Debt Service funds are used to account for the servicing of general long-term debt.
General Obligation Debt - accumulated monies for the principal and interest payments on general obligation debt.
Continued
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.
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.
General Assistance - to account for the assistance given to persons and/or families to meet their basic living
expenses.
Debt Service Funds
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.
Central Business Tax Increment District - accumulated monies for the principal and interest payments on debt
issued for this special taxing district.
Employer Pension Contribution - 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.
Special Revenue Funds - Continued
-110-
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.
Central Business Tax Increment District - to account for the purchase of land and other related costs of the
research park. Financing is provided from general obligation bond and note proceeds.
Washington National Tax Increment District - to account for the costs of redevelopment of this special taxing
district. Financing is provided from general obligation bond and note proceeds.
-111-
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Balance Sheet
Special Revenue
Emergency
Motor Economic Telephone Neighborhood
Fuel Tax Development System Library Improvement
Cash and equivalents 1,092,197$ 1,949,770$ 2,201,734$ 308,463$ 51,391$
Investments - - - 1,703,704 -
Receivables
Property taxes (net of allowance)
Current year levy - - - - -
Notes - - - - -
Allowance - - - - -
Special assessments - - - - -
Accrued interest - - - 2,134 -
Other - 21,599 130,505 - -
Building held for resale - - - - -
Due from other governments 173,138 - - - -
Due from other funds - 21,748 - - 40,000
Total Assets 1,265,335$ 1,993,117$ 2,332,239$ 2,014,301$ 91,391$
Liabilities
Vouchers payable 192,813$ 16,008$ 151,268$ -$ -$
Other - - - - -
Due to other governments - - - - -
Due to other funds - - 12,731 - -
Deferred revenues - - - - -
Total Liabilities 192,813 16,008 163,999 - -
Fund Balances
Reserved for notes receivable - - - - -
Reseved for debt service - - - - -
Reserved for HUD Approved Projects - - - - -
Unreserved
Designated 1,072,522 - - 2,014,301 -
Undesignated - 1,977,109 2,168,240 - 91,391
Total Fund Balances 1,072,522 1,977,109 2,168,240 2,014,301 91,391
Total Liabilities and Fund Balances 1,265,335$ 1,993,117$ 2,332,239$ 2,014,301$ 91,391$
Liabilities and Fund Balances
Assets
February 28, 2009
-112-
Special Revenue
Special
Community Community Service Employer Total
Affordable Development Development District Pension City
Housing HOME Block Grant Loan No. 4 Contribution Funds
648,302$ 73,711$ 26,998$ 367,875$ 21,728$ -$ 6,742,169$
- - - - - - 1,703,704
- - - - 313,506 10,150,523 10,464,029
1,364,371 3,324,696 24,799 1,737,368 - - 6,451,234
- - (12,000) (78,000) - - (90,000)
- - - - - - -
- - - - - - 2,134
89,133 - - - - - 241,237
- - 410,000 - - - 410,000
- - 31,667 - - - 204,805
10,000 - 16,008 1,434 - - 89,190
2,111,806$ 3,398,407$ 497,472$ 2,028,677$ 335,234$ 10,150,523$ 26,218,502$
-$ 2,648$ 56,285$ 15,522$ -$ -$ 434,544$
- - - 3,257 - - 3,257
- 5,300 - 1,382 - - 6,682
- 16,008 18,388 - 25,000 3,378,398 3,450,525
- - - - 122,220 6,772,125 6,894,345
- 23,956 74,673 20,161 147,220 10,150,523 10,789,353
1,364,371 3,324,696 12,799 1,659,368 - - 6,361,234
- - - - - - -
- - 410,000 - - - 410,000
- - - - - - 3,086,823
747,435 49,755 - 349,148 188,014 - 5,571,092
2,111,806 3,374,451 422,799 2,008,516 188,014 - 15,429,149
2,111,806$ 3,398,407$ 497,472$ 2,028,677$ 335,234$ 10,150,523$ 26,218,502$
Continued
-113-
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Balance Sheet - Continued
Total Total
General Township Special
Town Assistance Funds Revenue
Cash and equivalents 661,120$ 1,008,650$ 1,669,770$ 8,411,939$
Investments - - - 1,703,704
Receivables
Property taxes (net of allowance)
Current year levy 162,788 589,162 751,950 11,215,979
Notes - - - 6,451,234
Allowance - - - (90,000)
Special assessments - - - -
Accrued interest - - - 2,134
Other 12,401 919 13,320 254,557
Building held for resale - - - 410,000
Due from other governments - - - 204,805
Due from other funds 22,051 - 22,051 111,241
Total Assets 858,360$ 1,598,731$ 2,457,091$ 28,675,593$
Liabilities
Vouchers payable 8,101$ 50,695$ 58,796$ 493,340$
Other - - - 3,257
Due to other governments - - - 6,682
Due to other funds - 22,051 22,051 3,472,576
Deferred revenues 142,113 536,177 678,290 7,572,635
Total Liabilities 150,214 608,923 759,137 11,548,490
Fund Balances
Reserved for notes receivable - - - 6,361,234
Reseved for debt service - - - -
Reserved for HUD Approved Projects - - - 410,000
Unreserved
Designated 78,782 - 78,782 3,165,605
Undesignated 629,364 989,808 1,619,172 7,190,264
Total Fund Balances 708,146 989,808 1,697,954 17,127,103
Total Liabilities and Fund Balances 858,360$ 1,598,731$ 2,457,091$ 28,675,593$
Liabilities and Fund Balances
Assets
Special Revenue
2/28/2009 and 03/31/08 for City and Township respectively
-114-
Central Howard Washington Howard West
Special Business Southwest Hartrey National Ridge Evanston
General Service Tax Tax Tax Tax Tax Tax
Obligation District Increment Increment Increment Increment Increment Increment
Debt No.5 District District District District District District Total
3,101,180$ 43,493$ 2,837,807$ 5,219$ 3,954,195$ 4,738,740$ 222,531$ 382,791$ 15,285,956$
- - - - - - - - -
9,289,920 422,652 8,253,097 636,736 1,230,915 4,414,288 162,656 311,336 24,721,600
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
443,944 - 22 - 250,000 - - 693,966
12,835,044$ 466,145$ 11,090,904$ 641,977$ 5,185,110$ 9,403,028$ 385,187$ 694,127$ 40,701,522$
-$ -$ -$ -$ -$ -$ 78,975$ -$ 78,975$
- - - - - - - - -
- - - - - - - - -
1,217,259 - - 90,000 12 34 5 - 1,307,310
5,517,114 234,774 4,392,041 327,820 604,860 2,990,098 93,463 169,642 14,329,812
6,734,373 234,774 4,392,041 417,820 604,872 2,990,132 172,443 169,642 15,716,097
- - - - - - - - -
6,100,671 231,371 6,698,863 224,157 4,580,238 6,412,896 212,744 524,485 24,985,425
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
6,100,671 231,371 6,698,863 224,157 4,580,238 6,412,896 212,744 524,485 24,985,425
12,835,044$ 466,145$ 11,090,904$ 641,977$ 5,185,110$ 9,403,028$ 385,187$ 694,127$ 40,701,522$
Debt Service
Continued
-115-
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Balance Sheet - Continued
Central Washington
Business National Total
Tax Tax Nonmajor
Increment Increment Special Governmental
District District Assessment Total Funds
Cash and equivalents 3,469,684$ 2,857$ 4,814,899$ 8,287,440$ 31,985,335$
Investments - - - - 1,703,704
Receivables
Property taxes (net of allowance)
Current year levy - - - - 35,937,579
Notes 96,649 - - 96,649 6,547,883
Allowance (96,649) - - (96,649) (186,649)
Special assessments - - 886,662 886,662 886,662
Accrued interest 16,328 - - 16,328 18,462
Other - - - - 254,557
Building held for resale - - - - 410,000
Due from other governments - - - - 204,805
Due from other funds - - 3,690 3,690 808,897
Total Assets 3,486,012$ 2,857$ 5,705,251$ 9,194,120$ 78,571,235$
Liabilities
Vouchers payable 14,288$ 4,597$ 859$ 19,744$ 592,059$
Other - - - - 3,257
Due to other governments - - - - 6,682
Due to other funds 144 250,000 328,944 579,088 5,358,974
Deferred revenues - - 886,661 886,661 22,789,108
Total Liabilities 14,432 254,597 1,216,464 1,485,493 28,750,080
Fund Balances
Reserved for notes receivable - - - - 6,361,234
Reseved for debt service - - - - 24,985,425
Reserved for HUD Approved Projects - - - - 410,000
Unreserved
Designated 3,471,580 (251,740) 4,488,787 7,708,627 10,874,232
Undesignated - - - - 7,190,264
Total Fund Balances 3,471,580 (251,740) 4,488,787 7,708,627 49,821,155
Total Liabilities and Fund Balances 3,486,012$ 2,857$ 5,705,251$ 9,194,120$ 78,571,235$
Liabilities and Fund Balances
Capital Projects
Assets
February 28, 2009
Concluded
-116-
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Statements of Revenues, Expenditures, and Changes in Fund Balances
Emergency
Motor Economic Telephone Neighborhood
Fuel Tax Development System Library Improvement
Revenues
Taxes -$ 1,886,215$ 1,150,724$ -$ 40,000$
Special assessments - - - - -
Intergovernmental 1,956,273 - - - -
Investment income 20,063 21,244 30,849 (749,988) -
SSI reimbursement - - - - -
Emergency assistance reimbursement - - - - -
Miscellaneous - 30,000 575 7,000 -
Total Revenues 1,976,336 1,937,459 1,182,148 (742,988) 40,000
Expenditures
Current
General management and support - - - - -
Public safety - - 1,474,090 - -
Public works 1,645,299 - - - -
Health and human resource development - - - - -
Recreation and cultural opportunities - - - - -
Housing and economic development - 808,583 - - 71,107
Debt service
Principal - - - - -
Interest - - - - -
Fiscal agent fees - - - - -
Capital outlay - - - - -
Total Expenditures 1,645,299 808,583 1,474,090 - 71,107
Excess (Deficiency) of Revenues
Over (Under) Expenditures 331,037 1,128,876 (291,942) (742,988) (31,107)
Other Financing Sources (Uses)
Bonds issued - - - - -
Escrow funding - - - - -
Premiums and discount - - - - -
Transfers in (out)
General (772,500) - - - -
Community Development Block Grant - - - - -
Community Development Loan - - - - -
Town - - - - -
General Assistance - - - - -
General Obligation Debt Service - - - - -
Special Assesstment Capital Project - - - - -
Maple Avenue Garage - (650,000) - - -
Sherman Garage - - - - -
Total Other Financing Sources (Uses)(772,500) (650,000) - - -
Net Change in Fund Balances (441,463) 478,876 (291,942) (742,988) (31,107)
Fund Balances -Beginning of Year 1,513,985 1,498,233 2,460,182 2,757,289 122,498
Fund Balances - End of Year 1,072,522$ 1,977,109$ 2,168,240$ 2,014,301$ 91,391$
Special Revenue
Year ended February 28, 2009
-117-
Special
Community Community Service Employer Total
Affordable Development Development District Pension City
Housing HOME Block Grant Loan No. 4 Contribution Funds
-$ -$ -$ -$ 478,197$ 9,711,598$ 13,266,734$
- - - - - - -
- 527,825 1,940,131 - - - 4,424,229
12,634 13,122 - 4,927 296 - (646,853)
- - - - - - -
- - - - - - -
157,265 - 13,114 - - - 207,954
169,899 540,947 1,953,245 4,927 478,493 9,711,598 17,252,064
- - - - - - -
- - - - - 9,711,598 11,185,688
- - - - - - 1,645,299
- - - - - - -
- - - - - - -
44,395 255,746 2,010,945 27,213 444,000 - 3,661,989
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
44,395 255,746 2,010,945 27,213 444,000 9,711,598 16,492,976
125,504 285,201 (57,700) (22,286) 34,493 - 759,088
- - - - - - -
- - - - - - -
- - - - - - -
(24,000) - - - - - (796,500)
- - - (57,700) - - (57,700)
- - 57,700 - - - 57,700
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - (650,000)
- - - - - - -
(24,000) - 57,700 (57,700) - - (1,446,500)
101,504 285,201 - (79,986) 34,493 - (687,412)
2,010,302 3,089,250 422,799 2,088,502 153,521 - 16,116,561
2,111,806$ 3,374,451$ 422,799$ 2,008,516$ 188,014$ -$ 15,429,149$
Special Revenue
Continued
-118-
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Statements of Revenues, Expenditures, and Changes in Fund Balances - Continued
Total Total
General Township Special
Town Assistance Funds Revenue
Revenues
Taxes 367,567$ 956,854$ 1,324,421$ 14,591,155$
Special assessments - - - -
Intergovernmental 83,872 - 83,872 4,508,101
Investment income 17,949 18,883 36,832 (610,021)
SSI reimbursement - 29,163 29,163 29,163
Emergency assistance reimbursement - 45,239 45,239 45,239
Miscellaneous - - - 207,954
Total Revenues 469,388 1,050,139 1,519,527 18,771,591
Expenditures
Current
General management and support 88,392 994,167 1,082,559 1,082,559
Public safety - - - 11,185,688
Public works - - - 1,645,299
Health and human resource development - - - -
Recreation and cultural opportunities - - - -
Housing and economic development - - - 3,661,989
Debt service
Principal - - - -
Interest - - - -
Fiscal agent fees - - - -
Capital outlay - - - -
Total Expenditures 88,392 994,167 1,082,559 17,575,535
Excess (Deficiency) of Revenues
Over (Under) Expenditures 380,996 55,972 436,968 1,196,056
Other Financing Sources (Uses)
Bonds issued - - - -
Escrow funding - - - -
Premiums and discount - - - -
Transfers in (out)
General - - - (796,500)
Community Development Block Grant - - - (57,700)
Community Development Loan - - - 57,700
Town - 125,000 125,000 125,000
General Assistance (125,000) - (125,000) (125,000)
General Obligation Debt Service - - - -
Special Assesstment Capital Project - - - -
Maple Avenue Garage - - - (650,000)
Sherman Garage - - - -
Total Other Financing Sources (Uses)(125,000) 125,000 - (1,446,500)
Net Change in Fund Balances 255,996 180,972 436,968 (250,444)
Fund Balances -Beginning of Year 452,150 808,836 1,260,986 17,377,547
Fund Balances - End of Year 708,146$ 989,808$ 1,697,954$ 17,127,103$
Year Ended February 28, 2009 and March 31, 2008 for City and Township respectively
Special Revenue
-119-
Central Howard Washington Howard West
Special Business Southwest Hartrey National Ridge Evanston
General Service Tax Tax Tax Tax Tax Tax
Obligation District Increment Increment Increment Increment Increment Increment
Debt No.5 District District District District District District Total
9,225,591$ 438,563$ 11,915,288$ 673,499$ 1,221,091$ 5,101,110$ 200,426$ 495,268$ 29,270,836$
- - - - - - - - -
- - - - - - - - -
63,320 354 42,268 2,509 56,005 72,812 2,462 108 239,838
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
9,288,911 438,917 11,957,556 676,008 1,277,096 5,173,922 202,888 495,376 29,510,674
336,375 - - - 285 78,975 - 415,635
- - - - - - - - -
- - - - - - - - -
- - - 800,000 - - - - 800,000
- - - - - - - - -
- - - - - - - - -
5,430,000 295,000 3,400,000 65,000 475,000 220,000 - - 9,885,000
4,546,652 143,063 63,640 4,631 223,320 160,878 - - 5,142,184
20,524 - 7,126 - - - - - 27,650
- - - - - - - - -
10,333,551 438,063 3,470,766 869,631 698,320 381,163 78,975 - 16,270,469
(1,044,640) 854 8,486,790 (193,623) 578,776 4,792,759 123,913 495,376 13,240,205
13,160,000 - - - - - - - 13,160,000
(13,280,204) - - - - - - - (13,280,204)
790,004 - - - - - - - 790,004
- - (325,000) (24,100) (141,600) (151,900) (120,400) - (763,000)
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
328,944 - - - - - - - 328,944
- - (4,600,000) - - - - - (4,600,000)
- - (1,872,829) - - (5,300,000) - - (7,172,829)
998,744 - (6,797,829) (24,100) (141,600) (5,451,900) (120,400) - (11,537,085)
(45,896) 854 1,688,961 (217,723) 437,176 (659,141) 3,513 495,376 1,703,120
6,146,567 230,517 5,009,902 441,880 4,143,062 7,072,037 209,231 29,109 23,282,305
6,100,671$ 231,371$ 6,698,863$ 224,157$ 4,580,238$ 6,412,896$ 212,744$ 524,485$ 24,985,425$
Debt Service
Continued
-120-
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Statements of Revenues, Expenditures, and Changes in Fund Balances - Continued
Central Washington
Business National Total
Tax Tax Nonmajor
Increment Increment Special Governmental
District District Assessment Total Funds
Revenues
Taxes -$ -$ -$ -$ 43,861,991$
Special assessments - - 516,168 516,168 516,168
Intergovernmental - - - - 4,508,101
Investment income 46,203 161 61,040 107,404 (262,779)
SSI reimbursement - - - - 29,163
Emergency assistance reimbursement - - - - 45,239
Miscellaneous - - - - 207,954
Total Revenues 46,203 161 577,208 623,572 48,905,837
Expenditures
Current
General management and support 193 - 3,393 3,586 1,501,780
Public safety - - - - 11,185,688
Public works - 57,314 - 57,314 1,702,613
Health and human resource development - - - - 800,000
Recreation and cultural opportunities 90,452 - - 90,452 90,452
Housing and economic development - - - - 3,661,989
Debt service
Principal - - - - 9,885,000
Interest - - - - 5,142,184
Fiscal agent fees - - - - 27,650
Capital outlay 384,925 - - 384,925 384,925
Total Expenditures 475,570 57,314 3,393 536,277 34,382,281
Excess (Deficiency) of Revenues
Over (Under) Expenditures (429,367) (57,153) 573,815 87,295 14,523,556
Other Financing Sources (Uses)
Bonds issued - - 500,000 500,000 13,660,000
Escrow funding - - - - (13,280,204)
Premiums and discount - - 14,602 14,602 804,606
Transfers in (out)
General - - - - (1,559,500)
Community Development Block Grant - - - - (57,700)
Community Development Loan - - - - 57,700
Town - - - - 125,000
General Assistance - - - - (125,000)
General Obligation Debt Service - - (328,944) (328,944) (328,944)
Special Assesstment Capital Project - - - - 328,944
Maple Avenue Garage - - - - (5,250,000)
Sherman Garage - - - - (7,172,829)
Total Other Financing Sources (Uses)- - 185,658 185,658 (12,797,927)
Net Change in Fund Balances (429,367) (57,153) 759,473 272,953 1,725,629
Fund Balances -Beginning of Year 3,900,947 (194,587) 3,729,314 7,435,674 48,095,526
Fund Balances - End of Year 3,471,580$ (251,740)$ 4,488,787$ 7,708,627$ 49,821,155$
Year ended February 28, 2009
Capital Projects
Concluded
-121-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Taxes
Property
Current year levy 16,305,500$ 16,250,329$ (55,171)$
Prior year levy 200,000 215,057 15,057
Total Property Taxes 16,505,500 16,465,386 (40,114)
Personal Property Replacement Tax 975,500 788,614 (186,886)
Other Taxes
State Use Tax 956,100 1,068,907 112,807
Sales Tax - Home Rule 6,070,500 5,572,880 (497,620)
Auto Rental Tax 35,000 38,826 3,826
Athletic Contest Tax 550,000 722,693 172,693
Utility Tax 8,581,800 8,802,973 221,173
Cigarette Tax 405,000 374,153 (30,847)
Evanston Motor Fuel Tax 401,000 521,766 120,766
Liquor Tax 1,927,000 1,947,785 20,785
Parking Tax 1,700,000 1,905,988 205,988
Real Estate TransferTax 3,700,000 2,064,170 (1,635,830)
Amusement Tax 5,500 - (5,500)
Total Other Taxes 24,331,900 23,020,141 (1,311,759)
Total Taxes 41,812,900 40,274,141 (1,538,759)
Year ended February 28, 2009
Continued
-122-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Original
and Final
Budget Actual Variance
Licenses and Permits
Vehicle Licenses 2,695,000$ 2,598,005$ (96,995)$
Business Licenses 170,500 76,941 (93,559)
Pet Licenses 44,000 22,555 (21,445)
Bicycle Licenses - 85 85
Contractor Licenses 85,000 78,437 (6,563)
Rooming House Licenses 193,200 186,107 (7,093)
Liquor Licenses 345,100 328,529 (16,571)
One Day Liquor Licenses - 2,075 2,075
Farmer's Market Licenses 26,400 28,670 2,270
Rental building register 146,000 56,896 (89,104)
Other Licenses - 22 22
Long Term Care License 112,400 112,500 100
Resident Care home License 500 80 (420)
Building Permits 2,740,000 2,854,424 114,424
Plumbing Permits 150,000 104,575 (45,425)
Electrical Permits 160,000 134,424 (25,576)
Signs and Awnings 10,000 36,206 26,206
Other /Misc Permits 325,000 593,512 268,512
Elevator Permits 45,000 57,667 12,667
Heating Vent / AC Permits 260,000 226,610 (33,390)
Commercial Drive Permits - 15,702 15,702
Right of Way Permits 70,000 179,648 109,648
Residents Parking Permit 212,000 131,245 (80,755)
Visitor Parking Permit 14,300 13,488 (812)
Fire supression / Alarm Permit - 775 775
Annual Sign Fees 32,000 3,165 (28,835)
Plat PR. & Sign Approval HRG Fees 400 - (400)
Alarm Panel Francise Fee - 15,360 15,360
Northwestern / Centel Easement 47,000 56 (46,944)
Cable Franchise Fee 800,000 854,870 54,870
Azavar audit Fee - 14,034 14,034
Nicor Franchise Fee - 93,617 93,617
Total Licenses and Permits 8,683,800 8,820,280 136,480
Year ended February 28, 2009
Continued
-123-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Original
and Final
Budget Actual Variance
Intergovernmental - Revenue from
Other Agencies
Retailer and Service Occupation Tax 9,100,000$ 8,857,994$ (242,006)$
State Income Tax 6,600,000 6,821,169 221,169
State Highway Maintenance 135,000 75,413 (59,587)
Project access - 3,750 3,750
Well Child & Immunization - 744 744
Hebasic services grant 76,200 127,670 51,470
Dental Sealant Grant 4,200 834 (3,366)
Summer Food Inspections 400 450 50
Kid Care Agreement - 2,800 2,800
Illinois Tobacco Free Community 25,600 25,214 (386)
Teen Pregnancy Prevension Grant 60,600 58,013 (2,587)
Childhood Lead Poisoning Grant 1,000 362 (638)
Teen Parent Services Program 36,100 35,900 (200)
Insurance co pay - 176 176
Prostate Cancer Awareness 10,000 9,525 (475)
Other State / County Grant 18,700 35,729 17,029
Tanning Parlor Inspection 100 300 200
Violence Crime Victim Asst. Grant 24,700 22,348 (2,352)
ICJIA Grant - Victim 47,000 - (47,000)
District 65 Dental 1,500 - (1,500)
Fire Department Training 10,000 3,860 (6,140)
Summer Youth - 15,000 15,000
Leadbase Paint Control Grant - 106,500 106,500
Federal Grant / Aid 136,700 77,357 (59,343)
Teen Readers - (1,618) (1,618)
Commission on Aging Grant - Advocate 55,800 23,967 (31,833)
Civil Defence Grants (F.E.M.A.)24,000 16,522 (7,478)
Police Training 8,000 14,582 6,582
HUD Emergency Shelter Grant 88,900 65,326 (23,574)
Law Enforcement Block Grant 57,200 (20,934) (78,134)
Other Federal Aid 11,600 12,800 1,200
Total Intergovernmental - Revenue
from Other Agencies 16,533,300 16,391,753 (141,547)
Year ended February 28, 2009
Continued
-124-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Original
and Final
Budget Actual Variance
Charges for Services
Recreation
Recreation - program 4,606,500$ 4,595,719$ (10,781)$
Recreation - deferral - (58) (58)
Recreation - unreconciled - 34,639 34,639
Total Recreation 4,606,500 4,630,300 23,800
Library
State Per Capita Grant 90,900 44,941 (45,959)
Library Video Rental 33,000 39,205 6,205
Non-Residents Card 3,000 2,500 (500)
Library Material Replacement Charged 21,000 16,066 (4,934)
Library Material Reserves 7,500 9,199 1,699
Library Miscellaneous Revenues 1,000 1,604 604
Library Copy Machines Charges 27,000 24,101 (2,899)
Library Meeting Room Rental 7,500 10,858 3,358
North Branch Rental Inc.- 32,112 32,112
Total Library 190,900 180,586 (10,314)
Year ended February 28, 2009
Continued
-125-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Original
and Final
Budget Actual Variance
Charges for Services
Other Service Charges
Sanitation Classes 11,000$ 9,045$ (1,955)$
Dental Clinic Fees 126,000 109,355 (16,645)
Health Clinic Fees - Food Establishment 162,000 201,073 39,073
S.T.D.O.- 31 31
Dental Check up 8,000 2,577 (5,423)
Emergency Dental Exam 200 - (200)
X-Rays - 20 20
Amalgam Filling 100 - (100)
Resin Filling 5,600 705 (4,895)
Sedative Filling 100 - (100)
Extraction 500 230 (270)
Pulpotomy 1,500 140 (1,360)
Sealant Office Visit 600 100 (500)
Additional Sealant 100 49 (51)
Temporary License Fee 4,000 7,477 3,477
Food Delivery Vehicle 8,300 5,812 (2,488)
Scavenger Truck 2,300 - (2,300)
Beverage Snack Vending Machine 27,800 26,524 (1,276)
Tobacco License 11,000 20,765 9,765
BeeKeeper Licenses - 25 25
Birth Certificate 95,000 77,365 (17,635)
Dealth Certificate - 16 . 23 47,000 38,507 (8,493)
Funeral Director License 6,600 6,480 (120)
Year ended February 28, 2009
Continued
-126-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Original
and Final
Budget Actual Variance
Charges for Services - Continued
Other Service Charges - Continued
Temp Funeral Direct License 5,000$ 4,822$ (178)$
SWANCC Recycling 100,000 99,002 (998)
Recycling Service Charged 1,692,400 1,538,430 (153,970)
Recycling Service Charge - Penalty 10,000 23,878 13,878
Sanitation Special Pickup Fees 80,000 89,854 9,854
Weights & Measures Examinations 1,000 635 (365)
Senior Taxi Coupon Sales 95,000 119,186 24,186
Fire Cost Recovery Charge 10,000 6,075 (3,925)
Other Services Charges - 1,584 1,584
Recycling - Material Sales - 9,426 9,426
Condo Conversion Application Fee 40,000 9,600 (30,400)
Historic preservation 8,000 3,956 (4,044)
Ambulance Service 875,000 886,802 11,802
Towing Charges - (8,955) (8,955)
Police Report Fees 16,000 17,302 1,302
Wood Recycling 14,000 27,910 13,910
Zoning Fees 40,000 41,958 1,958
Fire Report Fees 1,300 1,406 106
Fire Building inspections 6,000 10,150 4,150
Alarm Panel Subscription Fees 110,000 189,060 79,060
Skokie Animal Board Fee 300 5,205 4,905
Background check Daycare Prov.- (442) (442)
Plan Review 8,000 5,032 (2,968)
Total Other Service Charges 3,629,700 3,588,156 (41,544)
Total Charges for Services 8,427,100 8,399,042 (28,058)
Fines
Ticket Fines - Parking 3,547,500 3,567,227 19,727
Regular Fines 200,000 284,591 84,591
Boot Release Fee 95,900 34,851 (61,049)
Fire False Alarm Fines 155,000 120,170 (34,830)
Police False Alarm Fines - 13,190 13,190
Housing Code Violation Fines - 35,143 35,143
Permit Penalty Fees 15,000 6,680 (8,320)
Administrative Adjudication Fine 120,000 187,348 67,348
Library Fines & Fees 208,000 193,082 (14,918)
Total Fines 4,341,400 4,442,282 100,882
Year ended February 28, 2009
Continued
-127-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Original
and Final
Budget Actual Variance
Investment Income 550,000$ 240,988$ (309,012)$
Miscellaneous
Charges to Other Funds
Community Development Fund 856,000 939,976 83,976
Home Fund 34,300 49,016 14,716
Emergency Telephone System Fund 126,000 126,000 -
Economic Development Fund 390,000 390,000 -
Sherman Garage 42,000 42,000 -
Parking Fund - - -
Water Fund - Administrative Expense 764,600 764,600 -
Sewer Fund 413,800 413,800 -
Total Charges to Other Funds 2,626,700 2,725,392 98,692
Miscellaneous
Other Revenues
Property Sales and Rentals 70,000 187,462 117,462
Donation - 5,100 5,100
Damage to City Signage 4,000 1,668 (2,332)
Damage to City property 20,000 17,748 (2,252)
Damage to Street Lights - 26,386 26,386
Damage to city trees - 500 500
Damage to Other City Property 8,000 - (8,000)
Miscellaneous Revenue 270,700 64,182 (206,518)
Taxicab Revenue 4,000 7,375 3,375
Teen baby nursery 41,000 - (41,000)
Payment in Lieu of Taxes 132,000 52,302 (79,698)
Fund Balance Applied 4,536,100 - (4,536,100)
Fees and Merchandise - 14,015 14,015
Trash Cart Sales 30,000 26,012 (3,988)
Parking Permits - Ryan Field 12,000 19,549 7,549
Change in Reserves - 282,727 282,727
Contributions from Nortwestern 550,000 550,000 -
Total Other Revenues 5,677,800 1,255,026 (4,422,774)
Total Miscellaneous 8,304,500 3,980,418 (4,324,082)
Total Revenues 88,653,000$ 82,548,904$ (6,104,096)$
Year ended February 28, 2009
Concluded
-128-
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 411,800$ 385,921$ 25,879$
City Manager 5,680,281 4,436,371 1,243,910
City Clerk 190,200 207,805 (17,605)
Law Department 773,700 673,549 100,151
Human Resources 2,308,800 1,613,728 695,072
Finance 4,900,100 5,381,446 (481,346)
Facilities management - 5,091 (5,091)
Total General Management and Support 14,264,881 12,703,911 1,560,970
Public Safety
Police 23,332,270 24,095,643 (763,373)
Fire 13,897,730 14,358,172 (460,442)
Total Public Safety 37,230,000 38,453,815 (1,223,815)
Public Works
Public Works Director 290,000 276,910 13,090
Municipal Service Center 435,300 442,916 (7,616)
City Engineer 1,576,100 1,459,163 116,937
Traffic Engineer 2,959,300 2,634,658 324,642
Streets 4,039,800 4,774,250 (734,450)
Sanitation 7,064,900 6,729,689 335,211
Total Public Works 16,365,400 16,317,586 47,814
Year ended February 28, 2009
Continued
-129-
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 311,500$ 229,276$ 82,224$
Health Department 1,782,100 1,162,502 619,598
Emergency assistance services - 133,241 (133,241)
Mental health and community purchased services 1,032,300 1,085,175 (52,875)
Commission on Aging 159,400 229,317 (69,917)
Subsidized Taxicab Program 292,000 267,529 24,471
Human Relations 496,900 496,280 620
Grants - 142,312 (142,312)
Total Health and Human Resource Development 4,074,200 3,745,632 328,568
Recreation and Cultural Opportunities
Library 4,805,000 4,902,158 (97,158)
Recreation 8,133,300 7,923,553 209,747
Parks and forestry 4,347,800 4,249,832 97,968
Ecology Center 556,200 465,621 90,579
Arts Council 1,011,700 909,704 101,996
Total Recreation and Cultural Opportunities 18,854,000 18,450,868 403,132
Housing and Economic Development
Community Development administration 259,700 212,567 47,133
Planning and zoning 514,100 481,249 32,851
Housing rehabilitation and
property standards 1,046,400 946,415 99,985
Building code compliance 1,764,000 1,661,247 102,753
Total Housing and Economic Development 3,584,200 3,301,478 282,722
Total Expenditures 94,372,681$ 92,973,290$ 1,399,391$
Year ended February 28, 2009
Concluded
-130-
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 2,100,000$ 1,956,273$ (143,727)$
Interest 55,000 20,063 (34,937)
Total Revenues 2,155,000 1,976,336 (178,664)
Expenditures
Public Works 2,350,000 1,645,299 704,701
Excess (Deficiency) of Revenues
over (under) Expenditures (195,000) 331,037 526,037
Other Financing (Uses)
Operating transfers (out)
General Fund (772,500) (772,500) -
Net Change in Fund Balance (967,500)$ (441,463) 526,037$
Fund Balances
Beginning of year 1,513,985
End of year 1,072,522$
Year ended February 28, 2009
-131-
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 1,776,800$ 1,886,215$ 109,415$
Interest - 21,244 21,244
Miscellaneous - 30,000 30,000
Total Revenue 1,776,800 1,937,459 160,659
Expenditures
Housing and economic development 1,178,000 808,583 369,417
Excess of Revenues
over Expenditures 598,800 1,128,876 530,076
Other Financing Sources (Uses)
Operating transfers in (out)
Maple Avenue Garage Fund (650,000) (650,000) -
Net Change in Fund Balance (51,200)$ 478,876 530,076$
Fund Balances
Beginning of year 1,498,233
End of year 1,977,109$
Year ended February 28, 2009
-132-
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 1,073,700$ 1,150,724$ 77,024$
Interest 25,000 30,849 5,849
Miscellaneous - 575 575
Total Revenue 1,098,700 1,182,148 83,448
Expenditures
Public Safety 1,981,100 1,474,090 507,010
Net Change in Fund Balance (882,400)$ (291,942) 590,458$
Fund Balance
Beginning of year 2,460,182
End of year 2,168,240$
Year ended February 28, 2009
-133-
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 90,000$ 60,000$ (30,000)$
Developer Contributions 500,000 75,000 (425,000)
Rehab Payments 10,000 - (10,000)
Interest 10,000 12,634 2,634
Miscellaneous 1,000 22,265 21,265
Total Revenue 611,000 169,899 (441,101)
Expenditures
Housing and economic development 321,000 44,395 276,605
Excess (Deficiency) of Revenues
over (under) Expenditures 290,000 125,504 (164,496)
Other Financing (Uses)
Transfers in (out)
Debt Service Fund (24,000) (24,000) -
Net Change in Fund Balance 266,000$ 101,504 (164,496)$
Fund Balance
Beginning of year 2,010,302
End of year 2,111,806$
Year ended February 28, 2009
-134-
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 2,074,176$ 1,940,131$ (134,045)$
Miscellaneous - 13,114 13,114
Total Revenues 2,074,176 1,953,245 (120,931)
Expenditures
Housing and economic development 2,074,176 2,010,945 63,231
Excess (Deficiency) of Revenues
over (under) Expenditures - (57,700) (57,700)
Other Financing (Uses)
Transfers
Community Development Loan - 57,700 57,700
- 57,700 57,700
Net Change in Fund Balance -$ - -$
Fund Balance
Beginning of year 422,799
End of year 422,799$
Year ended February 28, 2009
-135-
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 329,225$ 330,608$ (1,383)$
Housing Advocacy Program 15,051 15,051 -
MBE/Small Business Assistance 52,000 52,000 -
Total Administration/Planning 396,276 397,659 (1,383)
Economic Development
Evanston Community Development Corp.55,000 59,609 (4,609)
Technology Innovation Center 15,000 15,000 -
Total Economic Development 70,000 74,609 (4,609)
Housing
Adaptive Devices - 444 (444)
Community Development Planning 30,000 - 30,000
Demolition/Vacant Lot Cleanup Program 7,000 21,044 (14,044)
Housing Code Compliance 375,000 374,965 35
Housing Rehab Administration 319,000 319,000 -
Minor Repairs/Painting Assistance - E.N.A.W.140,000 138,825 1,175
Neighborhood Storefront Imp Program 35,000 23,126 11,874
Total Housing 906,000 877,404 28,596
Year ended February 28, 2009
Continued
-136-
CITY OF EVANSTON, ILLINOIS
Community Development Block Grant Fund
Schedule of Expenditures - Budget and Actual (Budgetary Basis) - Continued
Original
and Final
Budget Actual Variance
Neighborhood Revitalization
Accessible Curb Ramp Program -$ 53,174$ (53,174)$
Alley Paving Program 80,000 80,000 -
Curb/Sidewalk Replacement 75,000 42,918 32,082
Curb/Ramp ADA 2008 75,000 - 75,000
Disposition 1817 - 7,929 (7,929)
Evanston Day Nursery Energy Imp 10,000 - 10,000
Family Focus Center Improvements 6,600 - 6,600
F/J Landscape Redesign 95,400 57,488 37,912
F/J Kitchen - 27,952 (27,952)
Handyman Assistance/Elderly Home Repair - 13,019 (13,019)
Special Assessments/Alley Paving 10,000 18,288 (8,288)
YMCA Elevator Rehab 40,000 51,614 (11,614)
Total Neighborhood Revitalization 392,000 352,382 39,618
Year ended February 28, 2009
Continued
-137-
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 3,500$ 2,095$ 1,405$
Adopt a Fancy Can 3,500 3,311 189
Community Unity 1 3,000 3,000 -
Connections for the Homeless 3,000 3,000 -
Divine Wisdom Institute 1,700 1,700 -
Evanston Community Defender 45,000 45,000 -
Evanston Legal Services CCLAF - -
Ex-Offender/Homeless Program 3,200 3,200 -
Girl Scouts 4,000 4,000 -
Graffiti Removal Program 30,000 30,000 -
Interfaith Housing Program/ Home Sharing 13,000 13,000 -
Interfaith Action Council 1,000 1,000 -
Legacy Project Shorefront - -
Legal Assist Foundation 9,000 9,000 -
Meals at Home 8,000 8,000 -
Metropolitan Family Service - -
Food Partners - -
Music Inst.1,500 1,500 -
North Shore Senior Center 23,000 23,000 -
Open studio Art 2,000 2,000 -
Preschool Playground - -
Safer Neighborhood Area Project-Implementation 2,000 1,969 31
Safer Neighborhood Area Project-Staff Straining 6,500 6,500 -
Second Baptist 9,000 9,000 -
Senior Crime Prevention 15,000 15,000 -
Shorefront NFP Legacy Project - -
Smith Park Renovations - -
South Evanston Neighborhood Assoc.1,500 2,116 (616)
Summer Youth Employment 45,000 45,000 -
YAM Annual College Retreat - -
Youth Job Center of Evanston 47,000 47,000 -
YWCA Shelter Project 29,500 29,500 -
Total Public Services 309,900 308,891 1,009
Total Expenditures 2,074,176$ 2,010,945$ 63,231$
Year ended February 28, 2009
Concluded
-138-
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 328,489$ 328,489$ -$
Prior year levy - 5,407 5,407
Interest - 296 296
Total Revenues 328,489 334,192 5,703
Expenditures
Housing and economic development 445,000 444,000 1,000
Net Change in Fund Balance (116,511)$ (109,808) 6,703$
Fund Balance
Beginning of year 420,042
End of year 310,234$
Year ended February 28, 2009
-139-
CITY OF EVANSTON, ILLINOIS
Township - Town Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Original
and Final
Budget Actual Variance
Revenues
Property taxes 308,703$ 367,567$ 58,864$
Interest 18,000 17,949 (51)
Replacement tax 50,000 83,872 33,872
Total Revenues 376,703 469,388 92,685
Expenditures
General management and support 193,453 88,392 105,061
Excess of Revenues over Expenditures 183,250 380,996 197,746
Other Financing (Uses)
Operating transfers (out)
General Assistance Fund (125,000) (125,000) -
Net Change in Fund Balance 58,250$ 255,996 197,746$
Fund Balance
Beginning of year 452,150
End of year 708,146$
Year February 28, 2009 and March 31, 2008 for City and Township respectively
-140-
CITY OF EVANSTON, ILLINOIS
Township - General Assistance Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Year February 28, 2009 and March 31, 2008 for City and Township respectively
Original
and Final
Budget Actual Variance
Revenues
Property taxes 967,209$ 956,854$ (10,355)$
Interest 20,000 18,883 (1,117)
SSI reimbursement 5,000 29,163 24,163
Emergency assistance reimbursement 65,000 45,239 (19,761)
Total Revenues 1,057,209 1,050,139 (7,070)
Expenditures
General management and support 1,106,848 994,167 (112,681)
(Deficiency) of Revenues
(under) Expenditures (49,639) 55,972 105,611
Other Financing Sources
Transfers in
Town Fund 125,000 125,000 -
Net Change in Fund Balance 75,361$ 180,972 105,611$
Fund Balance
Beginning of year 808,836
End of year 989,808$
-141-
CITY OF EVANSTON, ILLINOIS
Debt Service Funds
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual (Budgetary Basis)
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 10,141,385$ 10,116,288$ 433,300$ 437,906$ 10,935,956$ 8,974,988$ 755,398$ 674,545$
Prior year levy, net - (68,594) - 13,895 - 232,951 - -
Investment income 225,000 63,320 600 354 120,000 42,268 10,000 2,509
Miscellaneous - - - - - - - -
Total Revenues 10,366,385 10,111,014 433,900 452,155 11,055,956 9,250,207 765,398 677,054
Expenditures
General management
and support 200 336,375 500 - 335,000 - - -
Health and human resources
development - - - - - - 800,000 800,000
Debt Service
Principal 5,895,000 6,376,046 305,000 305,000 3,400,000 - - -
Interest 4,519,128 4,593,912 128,313 128,313 102,000 (55,361) - -
Fiscal agent fees 230,000 20,523 - - 40,000 7,126 - -
Total Expenditures 10,644,328 11,326,856 433,813 433,313 3,877,000 (48,235) 800,000 800,000
Excess (Deficiency) of Revenues
over (under) Expenditures (277,943) (1,215,842) 87 18,842 7,178,956 9,298,442 (34,602) (122,946)
Other Financing Sources (Uses)
Operating transfers in (out)
Bond Proceeds - 13,160,000 - - - - - -
Escrow Funding - (13,839,563) - - - - - -
Premiums and discounts - 1,349,363 - - - - - -
General - - - - (325,000) (325,000) (24,100) (24,100)
Economic Development - - - - - - - -
Special Assessment 328,944 328,944 -
Maple Avenue Garage - - - - (4,600,000) (4,600,000) - -
Sherman Garage - - - - (1,872,829) (1,872,829) - -
328,944 998,744 - - (6,797,829) (6,797,829) (24,100) (24,100)
Net Changes in Fund Balances 51,001$ (217,098) 87$ 18,842 381,127$ 2,500,613 (58,702)$ (147,046)
Fund Balances
Beginning of year 1,173,659 13,991 337,195 62,286
End of year 956,561$ 32,833$ 2,837,808$ (84,760)$
Increment District Increment DistrictObligation Debt No. 5
Business Tax Southwest Tax
Year Ended February 28, 2009
Special Central
General Service District
-142-
Original Original Original Original Original
and Final and Final and Final and Final and Final
Budget Actual Budget Actual Budget Actual Budget Actual Budget Actual
1,580,750$ 1,230,915$ 3,406,527$ 4,530,995$ 223,987$ 179,460$ 265,479$ 371,774$ 27,742,782$ 26,516,871$
- - - 27,621 - 1,218 - 868 - 207,959
160,000 56,005 100,000 72,812 - 2,462 - 108 615,600 239,838
- - - - - - - - -
1,740,750 1,286,920 3,506,527 4,631,428 223,987 183,140 265,479 372,750 28,358,382 26,964,668
- - 50,000 285 16,000 78,975 - - 401,700 415,635
- - - - - - - - 800,000 800,000
505,000 512,088 285,000 289,000 - - - - 10,390,000 7,482,134
197,818 159,271 149,328 120,229 - - - - 5,096,587 4,946,364
- - 120,000 - - - 16,000 - 406,000 27,649
702,818 671,359 604,328 409,514 16,000 78,975 16,000 - 17,094,287 13,671,782
1,037,932 615,561 2,902,199 4,221,914 207,987 104,165 249,479 372,750 11,264,095 13,292,887
- - - - - - - - - 13,160,000
- - - - - - - - - (13,839,563)
- - - - - - - - - 1,349,363
(141,600) (141,600) (151,900) (151,900) (120,400) (120,400) - - (763,000) (763,000)
- - - - - - - -
328,944 328,944
- - - - - - - - (4,600,000) (4,600,000)
- - (5,300,000) (5,300,000) - - - - (7,172,829) (7,172,829)
(141,600) (141,600) (5,451,900) (5,451,900) (120,400) (120,400) - - (12,206,885) (11,537,085)
896,332$ 473,961 (2,549,701)$ (1,229,986) 87,587$ (16,235) 249,479$ 372,750 (942,790)$ 1,755,801
2,808,862 5,809,463 159,784 10,042 10,375,282
3,282,823$ 4,579,477$ 143,549$ 382,792$ 12,131,083$
Increment DistrictIncrement District Increment District Totals
Washington
National Tax West Evanston Tax
Increment District
Howard Ridge TaxHoward Hartrey Tax
-143-
PROPRIETARY FUND TYPES
-144-
CITY OF EVANSTON, ILLINOIS
Nonmajor Proprietary Funds
Combining Statement of Revenues, Expenses, and Changes in Fund Net Assets
Maple Total
Avenue Nonmajor
Garage Sherman Proprietary
Fund Garage Funds
Operating Revenues
Charges for services 1,451,066$ 1,637,599$ 3,088,665$
Miscellaneous - 51,057 51,057
Total Operating Revenues 1,451,066 1,688,656 3,139,722
Operating Expenses Excluding Depreciation
Operations 1,718,400 1,565,051 3,283,451
Total Operating Expenses
Excluding Depreciation 1,718,400 1,565,051 3,283,451
Operating Income (Loss) Before Depreciation (267,334) 123,605 (143,729)
Depreciation 733,931 1,023,172 1,757,103
Operating Income (Loss)(1,001,265) (899,567) (1,900,832)
Nonoperating Revenues (Expenses)
Investment income 119,529 150,946 270,475
Interest expense (74,870) (1,698,445) (1,773,315)
Bond expenses and amortization of discount (4,060) - (4,060)
Amortization of bond premium - 81,333 81,333
Total Nonoperating Revenues (Expenses)40,599 (1,466,166) (1,425,567)
(Loss) Before Transfers and Contributions (960,666) (2,365,733) (3,326,399)
Capital Contribution - 13,936 13,936
Transfers In (Out)
General Fund 650,000 - 650,000
Central Business Tax Increment District Fund - 1,872,829 1,872,829
Washington Tax Increment District Fund - 5,300,000 5,300,000
Economic Development Fund 4,600,000 - 4,600,000
Parking Fund (28,936,069) (4,901,718) (33,837,787)
Transfers In (Out)(23,686,069) 2,271,111 (21,414,958)
Change in Net Assets (24,646,735) (80,686) (24,727,421)
Total Net Assets - Beginning of Year 24,646,735 80,686 24,727,421
Total Net Assets - End of Year -$ -$ -$
Year ended February 28, 2009
Business-type Activities-Enterprise Fund
The accompanying notes are an integral part of this statement.
-145-
CITY OF EVANSTON, ILLINOIS
Nonmajor Proprietary Funds
Statement of Cash Flows
Maple Total
Avenue Nonmajor
Garage Sherman Proprietary
Fund Garage Funds
Cash Flows from Operating Activities
Receipts from customers and users 1,457,883$ 1,688,656$ 3,146,539$
Receipts from interfund services provided - 727,072 727,072
Payments to suppliers (1,364,974) (1,618,864) (2,983,838)
Payments for interfund services provided (168,616) (4,282,738) (4,451,354)
Net Cash (Used for) Operating Activities (75,707) (3,485,874) (3,561,581)
Cash Flows from Noncapital Financing Activities
Transfers In (Out)
General Fund 650,000 - 650,000
Central Business Tax Increment District Fund - 1,872,829 1,872,829
Washington Tax Increment District Fund - 5,300,000 5,300,000
Parking Fund (7,378,460) (5,270,730) (12,649,190)
Economic Development Fund 4,600,000 - 4,600,000
Net Cash Provided by (used for) Noncapital Financing Activities (2,128,460) 1,902,099 (226,361)
Cash Flows from Capital and Related Financing Activities
Net proceeds from bond refundings - 55,000 55,000
Principal paid on general obligation bonds (4,000,000) (5,340,000) (9,340,000)
Interest paid on general obligation bonds (74,870) (1,334,957) (1,409,827)
Proceeds from bond premium - 813,334 813,334
Net Cash (Used for) Capital and Related Financing Activities (4,074,870) (5,806,623) (9,881,493)
Cash Flows from Investing Activities
Interest income 119,529 150,946 270,475
Net Cash Provided by Investing Activities 119,529 150,946 270,475
Net (Decrease) in Cash and Equivalents (6,159,508) (7,239,452) (13,398,960)
Cash and Equivalents
Beginning of year 6,159,508 7,239,452 13,398,960
End of year -$ -$ -$
Reconciliation
Cash and equivalents
Unrestricted -$ -$ -$
-$ -$ -$
Year ended February 28, 2009
Business-type Activities-Enterprise Fund
-146-
CITY OF EVANSTON, ILLINOIS
Nonmajor Proprietary Funds
Statement of Cash Flows - Continued
Maple Total
Avenue Nonmajor
Garage Sherman Proprietary
Fund Garage Funds
Reconciliation of Operating Income (Loss) to Net Cash Provided
by (Used for) Operating Activities
Operating income (loss)(1,001,265)$ (899,567)$ (1,900,832)$
Depreciation 733,931 1,023,172 1,757,103
Changes in assets and liabilities
Other receivables (3,580) - (3,580)
lnterfund receivable - 727,072 727,072
Accrued interest receivable 10,397 - 10,397
lnterfund payable (168,616) (4,282,738) (4,451,354)
Vouchers payable 353,426 (53,813) 299,613
Net Cash Provided by (Used for) Operating Activities (75,707)$ (3,485,874)$ (3,561,581)$
Business-type Activities-Enterprise Fund
Year ended February 28, 2009
-147-
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 2,429,493$ 347,866$ 2,792,676$ 1,436,143$ 7,006,178$
Restricted cash and equivalents and investments - 673,537 616,556 1,152,599 2,442,692
Receivables
Accounts - billed 941,803 - - - 941,803
Accounts - unbilled 821,253 - - - 821,253
Other Receivables - - - 6,887 6,887
Accrued interest - - 15,017 - 15,017
Inventory 639,684 - - - 639,684
Total Current Assets 4,832,233 1,021,403 3,424,249 2,595,629 11,873,514
Capital Assets
Land 555,415 - - - 555,415
Construction in progress 74,048 - - 3,452,049 3,526,097
Capital assets being depreciated 67,068,536 - - - 67,068,536
Less accumulated depreciation (18,207,726) - - - (18,207,726)
Total Capital Assets 49,490,273 - - 3,452,049 52,942,322
Total Assets 54,322,506$ 1,021,403$ 3,424,249$ 6,047,678$ 64,815,836$
February 28, 2009
Assets
-148-
CITY OF EVANSTON, ILLINOIS
Water Fund
Schedule of Net Assets
February 28, 2009
Operation and Bond Depreciation
Maintenance and Bond Improvement
Account Interest Reserve and Extension Totals
Current Liabilities
Vouchers payable 361,238$ -$ -$ 324,987$ 686,225$
Vouchers payable - restricted - - - 352,599 352,599
Interest payable - restricted - 15,259 - - 15,259
Revenue bonds payable 437,500 - - - 437,500
Revenue bonds payable - restricted - 87,500 - - 87,500
Due to other funds 104,046 - - - 104,046
Other Payable 6,887 - - - 6,887
Compensated absences payable 309,768 - - - 309,768
Total Current Liabilities 1,219,439 102,759 - 677,586 1,999,784
Long-Term Liabilities
Revenue bonds payable 1,720,000 - - - 1,720,000
OPEB liabilty 20,709 - - - 20,709
Compensated absences payable 166,904 - - - 166,904
Unamortized bond discount on bonds payable 14,677 - - - 14,677
Total Long-Term Liabilities 1,922,290 - - - 1,922,290
Total Liabilities 3,141,729 102,759 - 677,586 3,922,074
Net Assets
Invested in capital assets, net of related debt 47,318,096 - - 3,452,049 50,770,145
Restricted for debt service - 570,778 616,556 - 1,187,334
Restricted for Capital Improvements - - - 800,000 800,000
Unrestricted 3,862,681 347,866 2,807,693 1,118,043 8,136,283
Total Net Assets 51,180,777 918,644 3,424,249 5,370,092 60,893,762
Total Liabilities and Net Assets 54,322,506$ 1,021,403$ 3,424,249$ 6,047,678$ 64,815,836$
Liabilities and Net Assets
-149-
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 -$ -$ 3,088,671$ 3,088,671$
Investment earnings 23,342 61,028 65,311 149,681
Total Increases 23,342 61,028 3,153,982 3,238,352
Decreases
Bond principal 512,500 - - 512,500
Bond interest 107,687 - - 107,687
Purchase of capital assets - - 3,948,687 3,948,687
Payment of expense 300 90 273,384 273,774
Total Decreases 620,487 90 4,222,071 4,842,648
Net Increase (Decrease)(597,145) 60,938 (1,068,089) (1,604,296)
Net Assets
Beginning of year 1,515,789 3,363,311 6,438,181 11,317,281
End of year 918,644$ 3,424,249$ 5,370,092$ 9,712,985$
Year ended February 28, 2009
-150-
CITY OF EVANSTON, ILLINOIS
Water Fund - Operation and Maintenance Account
Schedule of Revenues, Expenses, and Changes in Unreserved Net Assets - Budget and Actual
(With Comparative Totals for the Year Ended February 29, 2008)
Prior Year
Budget Actual Actual
Operating Revenues
Charges for services 13,325,600$ 13,208,340$ 12,791,917$
Miscellaneous 402,200 476,856 446,705
Total Operating Revenues 13,727,800 13,685,196 13,238,622
Operating Expenses Excluding Depreciation
Administration 885,300 674,624 668,969
Operations
Pumping 2,323,800 2,380,075 2,130,547
Filtration 2,219,600 1,944,713 1,798,666
Meter maintenance 341,200 341,754 313,627
Distribution 1,522,500 1,270,249 1,236,655
Other 934,300 981,720 936,511
Total Operating Expenses Excluding Depreciation 8,226,700 7,593,135 7,084,975
Operating Income Before Depreciation 5,501,100 6,092,061 6,153,647
Depreciation - 1,417,334 1,405,617
Operating Income 5,501,100 4,674,727 4,748,030
Nonoperating Revenues (Expenses)
Investment income 100,000 43,956 163,197
Interest expense - (107,687) (125,746)
Bond expenses and amortization of discount - 1,129 1,129
Net book value of capital assets disposed - (27,898) -
Total Nonoperating Revenues (Expenses)100,000 (90,500) 38,580
Income Before Transfers 5,601,100 4,584,227 4,786,610
Transfers In (Out)
Transfer In - - 2,000,000
Transfer Out (2,778,600) (2,778,600) (4,693,600)
Total Transfers In (Out)(2,778,600) (2,778,600) (2,693,600)
Net Income 2,822,500$ 1,805,627 2,093,010
Other Changes in Unreserved Net Assets
lntrafund transfers in (out) - net assets -
reserved - restricted accounts 1,480,203 (1,611,437)
Increase in Unreserved Net Assets 3,285,830 481,573
Unreserved Net Assets
Beginning of year 47,894,947 47,413,374
End of year 51,180,777$ 47,894,947$
Year ended February 28, 2009
-151-
CITY OF EVANSTON, ILLINOIS
Water Fund - Operation and Maintenance Account
Schedule of Operating Revenues - Budget and Actual
(With Comparative Totals for the Year Ended February 29, 2008)
Prior Year
Budget Actual Actual
Charges for Services, Net
Water Sales
Evanston 6,292,800$ 5,698,960$ 6,012,643$
Skokie 3,238,800 2,689,305 3,158,396
Northwest Water Commission 3,794,000 4,820,075 3,620,878
Total Charges for Services 13,325,600 13,208,340 12,791,917
Miscellaneous
Fees and outside work 80,000 156,678 97,437
Fees, merchandise and other 322,200 320,178 349,268
Total Miscellaneous 402,200 476,856 446,705
Total Operating Revenues 13,727,800$ 13,685,196$ 13,238,622$
Year ended February 28, 2009
-152-
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 adminstering general liability claims and workers' compensation
programs. Such costs are billed to the General Fund.
-153-
CITY OF EVANSTON, ILLINOIS
Internal Service Funds
Statement of Net Assets
Fleet Services Insurance Totals
Current Assets
Cash and equivalents 613,614$ 3,795,479$ 4,409,093$
Receivables - other 33,537 - 33,537
Inventories 267,572 - 267,572
Total Unrestricted Current Assets 914,723 3,795,479 4,710,202
Capital Assets
Cost 20,308,430 - 20,308,430
Accumulated depreciation (14,079,046) - (14,079,046)
Total Capital Assets 6,229,384 - 6,229,384
Total Assets 7,144,107 3,795,479 10,939,586
Liabilities and Fund Equity
Current Liabilities
Vouchers payable 195,576 40,684 236,260
Compensated absences payable 80,389 - 80,389
Claims payable - 2,395,337 2,395,337
Due to other funds 43,518 3,540 47,058
Total Current Liabilities 319,483 2,439,561 2,759,044
Long-Term Liabilities
OPEB Liability 12,199 - 12,199
Claims payable - 2,963,263 2,963,263
Total Long-Term Liabilities 12,199 2,963,263 2,975,462
Total Liabilities 331,682 5,402,824 5,734,506
Net Assets (Deficit)
Invested in capital assets, net of
related debt 6,229,384 - 6,229,384
Unrestricted 583,041 (1,607,345) (1,024,304)
Total net assets (deficit)6,812,425$ (1,607,345)$ 5,205,080$
February 28, 2009
Assets
-154-
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 3,839,594$ 1,800,000$ 5,639,594$
Sewer Fund 258,600 - 258,600
Water Fund 331,200 - 331,200
Motor Vehicle Parking System Fund 99,206 - 99,206
Miscellaneous 836 11,060 11,896
Total Operating Revenues 4,529,436 1,811,060 6,340,496
Operating Expenses
General support 314,532 - 314,532
Major maintenance 3,497,043 - 3,497,043
Vehicle body maintenance 384 - 384
General liability claims - (705,888) (705,888)
Workers compensation claims - 3,016,295 3,016,295
Other - 761,293 761,293
Total Operating Expenses 3,811,959 3,071,700 6,883,659
Operating Income (Loss) Before Depreciation 717,477 (1,260,640) (543,163)
Depreciation 1,225,265 - 1,225,265
Operating Income (Loss)(507,788) (1,260,640) (1,768,428)
Nonoperating Revenues (Expenses)
Investment income 14,140 73,995 88,135
Gain (loss) on disposition of assets 112,671 - 112,671
Total Nonoperating Revenues (Expenses)126,811 73,995 200,806
Change in Net Assets (380,977) (1,186,645) (1,567,622)
Total Net Assets (Deficit) - Beginning of Year 7,193,402 (420,700) 6,772,702
Total Net Assets (Deficit)- End of Year 6,812,425$ (1,607,345)$ 5,205,080$
Year ended February 28, 2009
-155-
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 4,523,198$ 1,811,060$ 6,334,258$
Receipts from interfund services provided 2,470 - 2,470
Payments to suppliers (3,453,272) (1,306,818) (4,760,090)
Payments to employees (329,447) (3,016,295) (3,345,742)
Payments for interfund services provided - 2,474 2,474
Net Cash Provided by (used for) Operating Activities 742,949 (2,509,579) (1,766,630)
Cash Flows from Capital and Related Financing Activities
Sale of capital assets 112,671 - 112,671
Acquisition and construction of capital assets (1,755,496) - (1,755,496)
Net Cash Used for Capital and Related Financing Activities (1,642,825) - (1,642,825)
Cash Flows from Investing Activities
Sale of investments 1,057,590 5,871,041 6,928,631
Interest income 14,140 73,995 88,135
Net Cash provided by Investing Activities 1,071,730 5,945,036 7,016,766
Net Increase in Cash and Cash Equivalents 171,854 3,435,457 3,607,311
Cash and Equivalents
Beginning of year 441,760 360,022 801,782
End of year 613,614$ 3,795,479$ 4,409,093$
Year ended February 28, 2009
Continued
-156-
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 (507,788)$ (1,260,640)$ (1,768,428)$
Adjustments to reconcile operating income to
net cash provided by (used for) operating activities
Depreciation 1,225,265 - 1,225,265
Changes in assets and liabilities
Increase/decrease in A/R miscellaneous (7,802) - (7,802)
Other receivables 1,564 - 1,564
lnterfund receivable 2,470 - 2,470
Inventories 105,458 - 105,458
Compensated absences (21,231) - (21,231)
OPEB Liability 6,316 - 6,316
Accounts payable (59,827) 18,439 (41,388)
lnterfund payable - 2,474 2,474
Vouchers payable (1,476) - (1,476)
Claims payable - (1,269,852) (1,269,852)
Net Cash Provided By (Used For) Operating Activities 742,949$ (2,509,579)$ (1,766,630)$
Year ended February 28, 2009
Concluded
-157-
AGENCY FUND
-158-
CITY OF EVANSTON, ILLINOIS
Beginning of End of
Year Additions Deletions Year
Assets
Current Assets
Cash and short term investments 21,073$ -$ -$ 21,073$
Total Assets 21,073$ -$ -$ 21,073$
Liabilities
Due to special assessment bondholders 21,073$ -$ -$ 21,073$
Total Liabilities 21,073$ -$ -$ 21,073$
Special Assessment Agency Fund
Statement of changes of Assets and Liabilities
Year Ending February 28, 2009
-159-
STATISTICAL SECTION (UNAUDITED)
-160-
Statistical Section
Contents Page
Financial Trends 162 - 165
Revenue Capacity 166 - 168
Debt Capacity 169 - 171
Demographic and Economic Information 172 - 173
Operating Information 174 - 179
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.
-161-
CITY OF EVANSTON, ILLINOIS
Net Assets by Component
Last Five Fiscal Years
(accrual basis of accounting)
(amounts expressed in thousands)
Fiscal Year
2004 2005 2006 2007 2008 2009
Governmental Activites
Invested in Capital Assets, net of related debt (9,753)$ 426$ 34,428$ 31,133$ 31,542$ 37,278$
Restricted 33,415 32,811 31,169 30,034 23,168 26,238
Unrestricted 32,861 43,010 15,408 25,171 28,231 17,539
Total Governmental Activities net assets 56,523$ 76,247$ 81,005$ 86,338$ 82,941$ 81,055$
Business-type Activities
Invested in Capital Assets, net of related debt 103,339$ 114,442$ 129,084$ 140,621$ 159,185$ 172,399$
Restricted 11,158 11,274 10,449 9,374 1,986 1,987
Unrestricted 23,332 21,478 23,483 21,417 23,589 27,586
Total Business-type Activities net assets 137,829$ 147,194$ 163,016$ 171,412$ 184,760$ 201,972$
Primary Government
Invested in Capital Assets, net of related debt 93,586$ 114,868$ 163,512$ 171,754$ 190,727$ 209,677$
Restricted 44,573 44,085 41,618 39,408 25,154 28,225
Unrestricted 56,193 64,488 38,891 46,588 51,820 45,125
Total Primary Governemnt net assets 194,352$ 223,441$ 244,021$ 257,750$ 267,701$ 283,027$
Note: A Ten Year history is not yet available.
Source: City Finance department
-162-
CITY OF EVANSTON, ILLINOIS
Changes in Net Assets
Last Five Fiscal Years
(accrual basis of accounting)
(amounts expressed in thousands)
Fiscal Year
2004 2005 2006 2007 2008 2009
Expenses
Governmental Activites
General government 15,791$ 14,451$ 19,537$ 19,951$ 20,072$ 18,017$
Public Safety 39,237 31,168 45,951 46,368 48,763 49,484
Public Works 13,065 14,225 14,632 16,505 21,566 21,628
Health & Human Resource Development 5,370 5,843 4,781 6,108 4,982 4,546
Housing & Economic Development 5,973 6,757 6,850 7,924 7,090 6,965
Culture and Recreation 17,129 18,276 19,792 18,303 20,634 20,002
Interest on Long-term Debt 4,900 5,086 5,874 6,926 5,522 4,041
Total governmental activities expenses 101,465 95,806 117,417 122,085 128,630 124,683
Business-type Activities
Water 8,992 8,176 8,760 8,778 8,668 9,391
Sewer 8,964 8,781 9,219 9,588 8,972 8,726
Motor vehicle parking system 3,468 4,777 2,904 2,963 2,403 8,896
Sherman garage - - - 1,613 4,270 -
Maple avenue garage 3,028 3,148 3,096 2,910 2,682 -
Total Business-type Activities 24,452 24,882 23,979 25,852 26,996 27,013
Total primary government expenses 125,917$ 120,688$ 141,396$ 147,937$ 155,625$ 151,696$
Program Revenues
Governmental Activites
Charges for Services
General government 12,750$ 13,262$ 13,060$ 13,630$ 12,639$ 13,348$
Culture and Recreation 3,739 3,731 4,310 4,353 4,521 4,637
Other activities 6,799 9,253 10,293 8,779 14,518 10,817
Operating grants and contributions 3,480 3,713 3,441 3,679 5,982 4,589
Capital Grants and Contributions 1,459 212 1,127 185 118 113
Total governmental activities program revenues 28,227 30,171 32,231 30,626 37,778 33,504
Business-type activities
Charges for Services
Water 13,478 13,187 13,961 12,639 13,239 13,685
Sewer 15,436 14,913 16,077 14,394 14,239 13,774
Sherman garage - - - 779 1,950 -
Motor vehicle parking system 3,266 3,011 2,965 3,059 3,084 6,719
Maple avenue garage fund 1,263 1,512 1,622 1,417 1,430 -
Total Business-type activities program reveneus 33,443 32,623 34,625 32,288 33,941 34,178
Ttoal primary government program revenues 61,670$ 62,794$ 66,856$ 62,914$ 71,719$ 67,682$
Net (expense)/revenue
Governmental activities (73,238) (65,635) (85,186) (91,459) (90,852) (91,179)
Business-type activites 8,991 7,741 10,646 6,436 6,945 7,165
Total Primary Government net expense (64,247) (57,894) (74,540) (85,023) (83,906) (84,014)
General Revenues and Other Changes in
Net Assets
Governmental Activites
Taxes
Property taxes 75,929$ 79,715$ 89,810$ 61,983$ 46,947$ 56,217$
Sales taxes 345 345 - 14,387 16,172 15,500
Investment earnings 1,710 1,547 2,997 3,752 3,653 360
Miscellaneous 2,096 4,996 1,412 17,287 25,799 26,684
Transfers (4,335) (1,244) (4,277) (616) (5,116) (9,469)
75,745 85,359 89,942 96,793 87,455 89,292
Fund Balance Applied - - - - - -
Total governmental activites 75,745 85,359 89,942 96,793 87,455 89,292
Business-type activities
Investment earnings 343 380 896 1,344 1,287 606
Miscellaneous - - - - - (28)
Transfers 4,335 1,244 4,277 616 5,116 9,469
Total business-type activites 4,678 1,624 5,173 1,960 6,403 10,047
Total primary government 80,423$ 86,983$ 95,115$ 98,753$ 93,858$ 99,339$
Changes in Net Assets
Governmental activities 2,507$ 19,724$ 4,756$ 5,334$ (3,397)$ (1,887)$
Business-type activites 13,669 9,365 15,819 8,396 13,348 17,212
Total primary government 16,176$ 29,089$ 20,575$ 13,730$ 9,951$ 15,325$
Source: City Finance department
Note: A Ten Year History is not yet available.-163-
CITY OF EVANSTON, ILLINOIS
Fund Balances, Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
(amounts expressed in thousands)
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
General Fund
Reserved 745$ 3,104$ 2,820$ 4,614$ 4,665$ 7,948$ 6,027$ 1,327$ 1,108$ 1,275$
Unreserved 9,327 11,341 12,438 13,110 14,375 15,209 18,804 24,866 24,840 19,752
Total general fund 10,072$ 14,445$ 15,258$ 17,724$ 19,040$ 23,157$ 24,831$ 26,193$ 25,948$ 21,027$
All Other Governmental Funds
Reserved 26,867$ 23,014$ 25,683$ 29,211$ 28,750$ 30,761$ 33,937$ 31,741$ 29,739$ 31,757$
Unreserved, reported in
Special revenue funds 5,033 6,371 7,507 60,514 4,617 5,249 5,171 5,587 6,649 10,356
Capital Projects Funds 14,494 27,222 12,648 - 58,816 49,476 31,696 23,965 25,620 20,899
Total all other governmental funds 46,394$ 56,607$ 45,838$ 89,725$ 92,183$ 85,486$ 70,804$ 61,293$ 62,008$ 63,012$
Note: Fund balances for debt service have been included in the reserved amounts.
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)
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Revenues
Taxes 62,382$ 67,585$ 68,749$ 58,814$ 63,833$ 66,744$ 75,661$ 77,137$ 75,767$ 84,035$
Licenses, fees and permits 5,333 6,436 7,405 6,459 6,699 6,773 9,164 8,061 10,276 8,820$
Fines and penalties 2,625 2,782 3,242 3,742 4,163 3,999 3,781 4,029 4,660 4,442$
Charges for services 4,860 5,491 5,515 6,262 5,997 6,053 6,905 7,167 7,732 8,399$
Special Assessments - - - 208 217 365 546 565 520 516$
Intergovernmental 7,259 5,448 5,859 19,116 18,586 21,618 21,106 21,402 22,625 21,013$
Investment Earnings 2,477 3,297 2,458 1,255 1,650 1,540 2,970 3,695 3,402 272$
Other Revenues 4,399 4,300 4,976 6,859 6,953 9,451 5,812 5,578 5,116 4,679$
Total Revenues 89,335 95,339 98,204 102,715 108,098 116,543 125,945 127,634 130,098 132,176
Expenditures
General Government 9,732 10,107 13,025 12,565 13,365 14,666 15,601 14,539 18,190 16,498
Public Safety 22,505 23,928 25,454 32,093 33,896 36,323 39,094 39,690 42,466 49,999
Public Works 12,678 12,037 11,655 10,847 11,119 12,070 13,242 14,282 18,868 18,913
Recreation and cultural opportunities 11,730 12,107 13,028 13,712 14,287 15,493 16,526 16,683 19,118 18,942
Health and Human Development 4,342 4,744 4,621 4,839 5,272 5,801 4,566 5,850 4,982 4,546
Housing and Economic Development 7,013 5,620 6,293 5,662 5,882 6,717 6,646 7,683 7,089 6,963
Pensions 8,537 8,801 9,277 4,209 2,688 1,372 4,628 5,645 - -
Capital Outlay 6,047 10,464 16,837 13,301 9,941 18,208 42,087 18,986 12,416 8,209
Debt Service
Interest 4,529 4,770 4,339 4,846 5,163 5,027 5,857 6,927 5,128 5,143
Fiscal agent fees 359 323 517 42 28
Principal 6,188 6,325 6,300 6,585 9,385 7,885 7,690 11,530 10,815 9,885
Total governmental activities expenditure 93,301 98,903 110,829 108,659 110,998 123,921 156,260 142,332 139,114 139,126
Net (expense)/revenue
Governmental activities (3,966) (3,564) (12,625) (5,944) (2,900) (7,378) (30,315) (14,698) (9,016) (6,950)
Other financing sources (uses)
Proceeds from borrowing 37,251$ 15,314$ -$ 57,066$ 24,917$ 25,724$ 31,332$ 24,916$ 31,444$ 24,340$
Payment/Proceeds from refunding (32,221) - - - - - - - - -
Capitalized interest income - - - 773 - - 355 - - 839
Capitalized interest expense - - - (773) - - (355) - - -
Proceeds sale property/other 45 - 318 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 7,705 3,526 5,619 8,259 9,762 6,020 7,032 6,529 8,975 5,927
Transfers (out)(5,174) (2,210) (3,893) (9,572) (15,287) (15,062) (14,432) (10,528) (15,344) (14,794)
Total Other financing sources (uses)7,606 16,630 2,044 51,621 6,674 4,796 17,306 6,549 9,485 3,032
Net Changes in Fund Balance 3,640$ 13,066$ (10,581)$ 45,677$ 3,774$ (2,582)$ (13,009)$ (8,149)$ 469$ (3,917)$
Debt Service as a percentage of
noncapital expenditures 12.28% 12.55% 11.32% 11.99% 14.40% 12.21% 11.87% 14.96% 12.58% 11.48%
Source: City Finance department
-165-
CITY OF EVANSTON, ILLINOIS
Assessed Value and Actual Value of Taxable Property
Last Ten Fiscal Years
Levy Total Total Total
Year Residential Farm Commercial Industrial Railroad Equalized Assessed Actual Tax
Ended Property Property Property Property Property Value Value Rate
1998 789,833,544 16,895 413,956,877 90,809,247 293,665 1,294,910,228 3,884,730,684 1.888
1999 821,467,155 16,895 406,217,660 72,384,000 286,492 1,300,372,202 3,901,116,606 1.934
2000 828,097,184 16,895 390,321,697 67,725,714 298,315 1,286,459,805 3,859,379,415 2.033
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
Note: 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.
Source: Cook County Assessor's office
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CITY OF EVANSTON, ILLINOIS
Principal Property Tax Payers
Current year and Nine Years Ago
2008 (2007 EAV)1999 (1998 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
Golub & Company 29,797,204 1 1.07%Rotary International 14,877,560 1 1.09%
Rotary International 22,909,065 2 0.83%Individual Taxpayer 9,083,061 2 0.66%
RECP CBRE 22,617,724 3 0.82%Church & Chgo Ltd Prtn 8,617,141 3 0.63%
Sherman Plaza LLC 20,703,729 4 0.75%The OMNI Orrington Hotel 7,907,493 4 0.58%
Church St Plaza 18,678,155 5 0.67%Taxpayer of Record 6,476,664 5 0.47%
Church & Chgo Ltd Prtn 15,530,484 6 0.56%Taxpayer of Record 6,420,409 6 0.47%
Omni Orrington Hotel 14,454,696 7 0.52%Bank One Bank Buildings 5,054,708 7 0.37%
Evanston Plaza Freed 14,046,480 8 0.51%SB Yen Management Group 3,753,722 8 0.27%
Parliament Enterprises 13,329,516 9 0.48%L.Solomon 3,372,609 9 0.25%
Evanston Hotel Assoc.12,867,965 10 0.46%First Dearborn Prop.3,181,747 10 0.23%
Total 184,935,018 6.67%68,745,114 5.02%
Total EAV 2,772,640,029 Total EAV 1,370,237,932
Source: Evanston GIS Cook County 2007 AV by PIN Summary
-167-
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
1999 25,137,352 24,468,693 97.34%425,270 24,893,963 99.03%
2000 26,217,646 25,319,911 96.58%421,153 25,741,064 98.18%
2001 26,305,327 25,391,349 96.53%442,216 25,833,565 98.21%
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 See Note See Note See Note See Note See Note
Source: City Finance department
Note: Levy Year 2008 is collected beyond fiscal year end 2009 through 12/31/09
-168-
CITY OF EVANSTON, ILLINOIS
Ratio of General Bonded Debt Outstanding
Last Ten Fiscal Years
(2)Net
Gross (3)Net General
(1)General Debt Debt Net Debt to Obligation
Fiscal Equalized Obligation Service Payable General Equalized Bonded
Year Assessed Bonded Monies From Other Obligation Assessed Debt
Ended Population Valuation Debt Available Revenues Debt Valuation Per Capita
2000 73,233 1,300,372,202 128,981,760 4,182,913 64,175,000 60,623,847 4.66%827.82
2001 74,239 1,286,459,805 156,955,729 4,562,562 91,710,000 60,683,167 4.72%817.40
2002 74,239 1,615,839,177 147,832,588 5,193,168 86,835,000 55,804,420 3.45%751.69
2003 74,239 1,710,663,113 194,086,731 6,942,441 123,720,000 63,424,290 3.71%854.33
2004 74,239 1,737,543,904 191,073,334 6,592,437 114,445,000 70,035,897 4.03%943.38
2005 74,239 1,727,147,885 187,110,000 6,678,359 106,935,000 73,496,641 4.26%990.00
2006 74,239 2,095,611,570 195,875,000 6,551,304 110,212,500 79,111,196 3.78% 1,065.63
2007 74,239 2,242,753,022 187,745,000 6,504,507 96,780,000 84,460,493 3.77% 1,137.68
2008 74,239 2,245,892,746 181,750,000 6,146,567 81,455,000 94,148,433 4.19% 1,268.18
2009 74,239 2,772,340,029 171,945,001 7,317,930 62,079,183 102,547,888 3.70% 1,381.32
Notes:
(1)
(2)
(3)
Source: Cook County and City Finance department
These amounts include the general obligation bonds that are being repaid from the Sewer Fund, the Fleet Service Fund, the Motor Vehicle Parking System Fund, the
Central Business Tax Increment District Fund, the Howard Hartrey Tax Increment Tax District Fund, the Southwest Tax Increment District Fund, the Washington
National Tax Increment Tax District Fund, the Emergency Telephone System Fund, the Maple Street Parking Fund, recycling revenues of the General Fund, certain
dedicated Water Fund revenues, and property tax from the defeased Special Service District No. 5 Bonds that is not being abated.
Equalized assessed values do not include tax increment financing district incremental equalized assessed values.
Includes contracts payable from governmental funds. Excludes limited purpose special service district bonds and general obligation notes payable under line of
credit with Northwestern University.
-169-
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 115,961,136$ 100.000% 115,961,136$
Other bonded debt
County of Cook 2,953,610,000 1.557% 45,987,708
Cook County Forest Preserve District 121,270,000 1.557% 1,888,174
Metropolitan Water Reclamation District 1,441,076,915 1.589% 22,898,712
High School District 202 20,806,445 88.620% 18,438,672
School District 65 34,520,000 88.620% 30,591,624
Skokie Park District 10,910,000 0.678%73,970
Total Overlapping Debt 4,582,193,360 119,878,860
Total Direct and Overlapping Debt 4,698,154,496$ 235,839,996$
Source: Cook County
CITY OF EVANSTON, ILLINOIS
Direct and Overlapping Governmental Activities
As of February 28, 2009
-170-
CITY OF EVANSTON, ILLINOIS
Pledged-Revenue Coverage
Last Ten Fiscal Years
Water Revenue Bonds
Utility Less:Net
Fiscal Service Operating Available Debt Service
Year Charges Expenses Resources Principal Interest Coverage
2000 13,709,645 5,602,297 8,107,348 2,170,000 666,466 2.86
2001 13,509,413 5,430,908 8,078,505 2,245,000 589,559 2.85
2002 13,005,269 5,670,480 7,334,789 2,325,000 494,210 2.60
2003 13,687,288 9,347,238 4,340,050 2,200,000 343,795 1.71
2004 13,583,515 7,056,290 6,527,225 805,000 235,913 6.27
2005 13,338,642 6,395,231 6,943,411 805,000 206,575 6.86
2006 14,380,966 6,705,865 7,675,101 865,000 177,355 7.36
2007 13,196,942 6,900,063 6,296,879 470,000 145,088 10.24
2008 13,787,014 7,138,056 6,648,959 485,000 128,713 10.83
2009 13,878,833 7,866,909 6,011,924 510,000 110,913 9.68
Note:
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.
-171-
CITY OF EVANSTON, ILLINOIS
Demographic and Economic Statistics
Last Ten Years
Per
Capita Education
Personal Median Level in Years School Unemployment
Year Population Income Age of Schooling Enrollment Rate
2000 73,233 30,068 31.9 13.6 10,068.0 3.5%
2001 74,239 30,068 31.9 13.6 9,999.0 4.2%
2002 74,239 33,645 32.5 13.6 10,889.0 5.0%
2003 74,239 36,296 32.5 13.6 9,766.0 5.4%
2004 74,239 36,296 32.5 13.6 9,849.0 5.0%
2005 74,239 37,384 32.5 13.6 9,740.0 5.0%
2006 74,239 39,103 32.5 13.6 9,550.0 4.5%
2007 74,239 39,103 32.5 13.6 9,550.0 4.4%
2008 74,239 39,103 32.5 13.6 9,550.0 4.6%
2009 74,239 - 32.5 13.6 9,550.0 4.7%
Source: Various Government agencies
-172-
CITY OF EVANSTON, ILLINOIS
Principal Employers
Current Year and Ten Years Ago
Employer Employees %Rank Employer Employees %Rank
Northwestern University 5,325 36%1 Northwestern University 5,650 38%1
Evanston Northwestern Healthcare 3,780 25%2 Evanston Northwestern Healthcare 3,400 23%2
St. Francis Hospital 1,649 11%3 St. Francis Hospital 2,000 13%3
City of Evanston 1,000 7%4 Evanston School District 65 1,100 7%4
Evanston School District 65 700 5%5 City of Evanston 780 5%5
School district 202 566 4%6 Presbyterian Homes/McGaw Care 500 3%6
Presbyterian Homes/McGaw Care 533 4%7 School District 202 480 3%7
Rotary International 460 3%8 Rotary International 410 3%8
Jewel/Osco Food Stores 455 3%9 Mather Foundation 400 3%9
C.E. Neihoff & Co.450 3%10 National Louis University 300 2%10
Total 14,918 15,020
Source: City Economic Development Division
Morris Robinson
2009 1999
-173-
CITY OF EVANSTON, ILLINOIS
Full-time Equivalent City Government Employees by Function
Last Ten Fiscal Years
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Function/Program
General Government
City Clerk 3.00 3.00 3.00 3.00 2.00 2.00 2.00 2.00 2.00 2.00
City Manager's Office 8.05 7.55 7.55 7.55 7.25 7.25 7.25 7.25 13.70 31.53
MBIS 16.75 17.75 20.75 21.50 21.80 22.80 24.80 23.80 25.50 -
Legal 6.50 7.50 7.50 6.00 6.00 7.00 7.00 7.00 7.00 7.00
Human Resources 9.00 8.00 8.00 8.00 7.00 7.00 7.00 8.00 8.00 8.00
Finance 23.50 26.00 27.00 26.00 24.50 24.50 26.50 25.50 26.50 29.50
Facilities Management 23.00 23.00 24.00 23.00 23.00 23.10 21.10 21.20 - -
Community Development 36.00 38.00 38.00 36.00 34.00 36.00 36.00 36.00 36.00 35.00
Police 211.00 211.80 214.80 212.30 213.80 217.50 219.50 221.75 220.75 220.75
Fire 109.00 109.00 109.00 109.00 109.00 109.00 110.00 111.00 111.00 112.00
Human & Health Services 45.93 45.73 45.03 41.73 39.54 39.30 39.30 40.15 29.68 24.90
Public Works 92.51 91.50 90.50 90.00 90.00 90.25 91.25 90.25 108.45 105.45
Human Relations 4.00 4.00 4.00 4.00 4.00 4.00 4.00 4.00 - -
Library 65.52 65.52 66.37 67.17 66.20 66.65 67.18 67.19 66.69 69.35
Recreation, Parks & Forestry 93.38 112.22 124.82 122.25 113.94 119.20 121.30 119.90 115.90 112.75
Total General Fund 747.14 770.57 790.32 777.50 762.03 775.55 784.18 784.99 771.17 758.23
Emergency Telephone System 2.00 3.00 3.00 3.00 4.00 4.00 4.00 4.00 4.00 4.00
CDBG 2.00 2.00 3.50 2.00 2.00 2.00 2.00 2.00 2.00 2.00
Economic Development Fund 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.45 1.30 2.30
Downtown II TIF Fund - - - - - - - 1.00 - -
Maple Ave. Garage - - - - - - 1.00 1.00 1.00 1.00
Parking Systems 13.00 13.00 13.00 13.00 13.00 13.00 14.00 14.50 14.50 14.50
Special Engineering - - - - - - - - - -
Water 42.50 44.00 44.00 44.00 44.00 43.00 43.00 43.00 43.00 43.00
Sewer 13.50 14.00 14.00 14.00 14.00 14.00 13.50 14.00 14.00 14.00
Fleet Services 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00 15.00 15.00
Insurance Fund - - - 2.00 1.30 1.30 1.30 1.30 1.00 2.00
Total Other Funds 91.45 94.45 95.95 96.45 96.75 95.75 97.25 99.25 95.80 97.80
Total All Funds 838.59 865.02 886.27 873.95 858.78 871.30 881.43 884.24 866.97 856.03
Source: City of Evanston Budget Division
-174-
CITY OF EVANSTON, ILLINOIS
Property Tax Rates per $100 - Direct and Overlapping Governments
Last Ten Levy Years
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
City of Evanston 1.888 1.934 2.033 1.628 1.610 1.698 1.528 1.491 1.527 1.283
Consolidated Elections - 0.023 - 0.032 - 0.029 - 0.014 - 0.012
Cook County 0.911 0.854 0.824 0.746 0.690 0.630 0.593 0.533 0.500 0.446
Cook County Forest Preserve District 0.072 0.070 0.069 0.067 0.061 0.059 0.060 0.060 0.057 0.053
Suburban T.B. Sanitarium 0.008 0.008 0.008 0.007 0.006 0.004 0.001 0.005 0.005 -
Metropolitan Water Reclamation District 0.444 0.419 0.415 0.401 0.371 0.361 0.347 0.315 0.284 0.263
North Shore Mosquito Abatement District 0.011 0.011 0.011 0.010 0.009 0.009 0.008 0.008 0.009 0.008
Evanston Township 0.072 0.072 0.077 0.064 0.062 0.065 0.056 0.055 0.058 0.050
Community College 535 0.205 0.203 0.213 0.186 0.179 0.186 0.161 0.158 0.166 0.141
School District 202 2.905 2.865 2.977 2.469 2.349 2.444 2.078 2.023 2.099 1.750
School District 65 4.126 4.073 4.232 3.516 3.343 3.475 2.978 2.890 3.045 2.535
Total tax rate for property not in park district
or special service district 10.642 10.532 10.859 9.126 8.680 8.960 7.810 7.552 7.750 6.541
Percent of total tax rate levied by City of Evanston 17.7% 18.4% 18.7% 17.8% 18.5% 19.0% 19.6% 19.7% 19.7% 19.6%
Source: Cook County Assessor's office
Government Unit
-175-
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Type of Customer
Residential 2,875,669 2,842,137 2,711,271 2,734,202 2,639,717 2,506,887 2,720,807 2,388,360 2,375,942 2,260,284
Industrial 42,440 42,748 41,895 37,076 36,015 22,010 20,096 16,307 16,579 15,722
Commercial 1,306,272 1,252,818 1,337,280 1,395,576 1,415,895 1,318,236 1,267,657 1,278,334 1,240,591 1,193,241
Government 97,565 101,021 113,349 112,007 90,908 86,096 109,121 96,777 100,278 89,420
Total 4,321,946 4,238,724 4,203,795 4,278,861 4,182,535 3,933,229 4,117,681 3,779,778 3,733,390 3,558,667
Total direct rate
per 100 cubic feet 1.47$ 1.47$ 1.47$ 1.47$ 1.47$ 1.47$ 1.47$ 1.47$ 1.52$ 1.52$
Source: City Water department
CITY OF EVANSTON, ILLINOIS
Water Sold by Type of Customer
Last Ten Fiscal Years
(in 100 cubic feet)
-176-
CITY OF EVANSTON, ILLINOIS
Water Sold by Major Customers
Last Ten Fiscal Years
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Type of Customer
Evanston residents/businesses 6,774,380$ 6,811,100$ 6,606,091$ 6,711,004$ 6,665,158$ 6,559,026$ 6,706,644$ 5,804,517$ 6,012,643$ 5,430,019$
Village of Skokie 2,908,102 2,918,766 2,859,685 3,011,018 2,959,732 2,802,720 3,018,734 2,891,834 3,158,396 2,689,304
Northwest Water Commission 3,367,773 3,283,048 3,247,291 3,434,685 3,367,253 3,377,407 3,750,200 3,497,989 3,620,878 4,820,074
Total $13,050,255 $13,012,914 $12,713,067 $13,156,707 $12,992,143 $12,739,153 $13,475,578 $12,194,340 12,791,917$ 12,939,397$
Source: City Water department
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CITY OF EVANSTON, ILLINOIS
Operating Indicators by Function/Programs
Last Ten Years
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Function/Program
Police
Violent Offenses 349 393 270 314 293 266 226 224 282 299
Property Offenses 4,819 4,858 4,174 4,122 3,318 3,145 2,965 2,942 2,825 2,739
911 Calls Received 27,893 29,052 37,201 55,125 55,383 56,650 56,650 55,795 59,135 56,717
Fire
Emergency responses 7,432 7,566 7,925 8,003 8,106 7,624 8,135 8,173 8,517 9,134
Fires extinguished 259 247 227 218 225 199 287 220 192 185
Inspections 2,600 - 2,940 3,071 2,664 2,194 1,496 1,320 1,050 1,810
Other Public Works
Street resurfacing (estimated miles)3.3 3.3 3.3 3.3 3.3 3.3 3.3 3.3 3.3 3.3
Parks and Recreation
Athletic field usage (hours)unavailable unavailable unavailable unavailable unavailable unavailable unavailable 15,561 15,165 17,121
Picnic permits issued unavailable unavailable unavailable unavailable unavailable unavailable unavailable 319 373 403
Library
Volumes in collection 437,104 455,481 463,263 477,768 491,064 520,458 486,031 495,575 458,017 502,019
Total volumes borrowed 858,343 839,701 878,990 887,773 868,837 880,561 893,841 897,141 867,743 945,952
Water
New connections 44 55 68 47 70 59 74 104 61 57
Water main breaks 59 53 34 65 41 45 78 48 36 52
Average daily consumption
(millions of gallons)50.33 47.16 37.16 36.22 37.74 37.31 41.44 41.41 42.91 40.09
Peak daily consumption
(millions of gallons)80.74 69.12 75.50 75.50 73.17 60.98 80.46 66.49 66.00 65.40
Source: Various City departments
Note: Indicators are not available for general government functions
Calendar Year
-178-
CITY OF EVANSTON, ILLINOIS
Capital Assets Statistics by Function
Last Ten Years
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Function/Program
Police
Number of Stations 1 1 1 1 1 1 1 1 1 1
Budgeted Sworn Officers 162 162 161 161 161 161 161 162 162 165
Fire Stations 5 5 5 5 5 5 5 5 5 5
Other Public Works
Streets (miles)147.0 147.0 147.0 147.0 147.0 147.0 147.0 147.0 147 147
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)159.0 159.0 159.0 159.0 159.0 159.0 159.0 159.0 157 157
Fire hydrants 1,347 1,347 1,347 1,347 1,347 1,347 1,347 1,347 1,370 1,370
Storage capacity (millions of gallons)22 22 22 22 22 22 22 22 22 22
Source: Various City departments
Note: No capital asset indicators are available for the geveral government or library function
Calendar Year
-179-
TAX INCREMENT FINANCING DISTRICT
REQUIREMENTS
-180-