HomeMy WebLinkAbout2006-2007 Annual Comprehensive Financial ReportCITY OF EVANSTON, ILLINOIS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED
FEBRUARY 28, 2007
Prepared by Finance Department
Matthew A. Grady III
Finance Director and Comptroller
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CITY OF EVANSTON, ILLINOIS
Table of Contents
INTRODUCTORY SECTION PAGE
Principal Officials v
Organization Chart vi
Letter of Transmittal vii
Certificate of Achievement for Excellence in Financial Reporting xiv
FINANCIAL SECTION
INDEPENDENT AUDITORS' REPORT ON THE FINANCIAL STATEMENTS
MANAGEMENT'S DISCUSSION AND ANALYSIS 3
BASIC FINANCIAL STATEMENTS
Statement of Net Assets
10
Statement of Activities
12
Governmental Funds Balance Sheet
14
Governmental Funds Statement of Revenues, Expenditures,
and Changes in Fund Balances
15
Reconciliation of the Statement of Revenues, Expenditures, and Changes
in Fund Balances of Governmental Funds to the Statement of Activities
16
Proprietary Funds Statement of Net Assets
17
Proprietary Funds Combining Statement of Revenues, Expenses, and
Changes in Fund Net Assets
19
Proprietary Funds Statement of Cash Flows
20
Fiduciary Funds - Statement of Net Assets
22
Fiduciary Funds - Pension Trust Funds - Statement of Changes in
Plan Net Assets
23
Notes to the Financial Statements
Index for Notes to the Financial Statements
Notes to the Financial Statements
24
27
REOUIRED SUPPLEMENTARY INFORMATION
Firefighters' Pension Fund, Police Pension Fund, and Illinois
Municipal Retirement Fund - Schedules of Funding Progress 86
Firefighters' and Police Pension Funds - Schedules of
Employer Contribution 87
General Fund - Schedule of Revenues, Expenditures, and Changes
in Fund Balance - Budget and Actual (Budgetary Basis) 88
CITY OF EVANSTON, ILLINOIS
Table of Contents
FINANCIAL SECTION (Continued) PAGE
Notes to the Required Supplementary Information
Digest of Changes - IMRF 89
Conversion from GAAP basis to Budgetary basis 89
COMBINING AND INDIVIDUAL FUND
STATEMENTS AND SCHEDULES
GOVERNMENTAL FUND TYPES
Nonmajor Governmental Funds Combining Balance Sheet 90
Nonmajor Governmental Funds Combining Schedule of Revenues,
Expenditures, and Changes in Fund Balances 95
GENERAL FUND
Schedule of Revenues - Budget and Actual (Budgetary Basis) 100
Schedule of Expenditures - Budget and Actual (Budgetary Basis) 107
SPECIAL REVENUE FUNDS
Motor Fuel Tax Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)
109
Economic Development Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)
110
Emergency Telephone System Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)
1 I 1
Mayor's Special Housing Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)
112
Community Development Block Grant Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)
113
Schedule of Expenditures - Budget and Actual (Budgetary Basis)
114
Special Service District No. 4 Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)
117
CITY OF EVANSTON, ILLINOIS
Table of Contents
COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES (Continued) PAGE
Township - Town Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual 118
Township - General Assistance Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual 119
DEBT SERVICE FUNDS
All Funds
Combining Schedule of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual (Budgetary Basis) 120
PROPRIETARY FUND TYPES
Nonmajor Proprietary Funds Statement of Net Assets 122
Nonmajor Proprietary Funds Combining Statement of Revenues,
Expenses, and Changes in Fund Net Assets 124
Nonmajor Proprietary Funds Statement of Cash Flows 125
WATER FUND
Schedule of Net Assets 127
Schedule of Changes in Net Assets - Reserved - Restricted Accounts 129
Operation and Maintenance Account - Schedule of Revenues, Expenses,
and Changes in Unreserved Net Assets - Budget and Actual 130
Operation and Maintenance Account - Schedule of Operating Revenues
Budget and Actual 131
INTERNAL SERVICE FUNDS
All Funds
Statement of Net Assets 132
Combining Statement of Revenues, Expenses, and
Changes in Net Assets 133
Combining Statement of Cash Flows 134
AGENCY FUNDS
Special Assessment Agency Fund
Statement of changes of Assets and Liabilities 136
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CITY OF EVANSTON, ILLINOIS
Table of Contents
COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES (Continued) PAGE
STATISTICAL SECTION (UNAUDITED)
Net Assets by Component
137
Changes in Net Assets
138
Fund Balances - Governmental Funds
139
Changes in Fund Balances - Governmental Funds
140
Assessed Value and Actual Valued of Taxable Property
141
Principal Property Tax Payers
142
Property Tax Levies and Collections (City) - Last Ten Levy Years
143
Ratio of General Debt Outstanding
144
Direct and Overlapping Governmental Activities
145
Pledged - Revenue Coverage
146
Demographic Statistics - Last Ten Fiscal Years
147
Principal Employers
148
Full -Time Equivalent City Government Employees by Function
149
Property Tax Rates per $100 - Direct and Overlapping Governments
150
Water Sold by Type of Customer (in 100 cubic feet)
151
Water Sold by major Customers
152
Operating Indicators by Function/Program
153
Capital Assets Statistics by Function
154
TAX INCREMENT FINANCING DISTRICT REQUIREMENTS
Independent Accountants' Report on Compliance - Tax Increment Financing Districts 155
iv
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INTRODUCTORY SECTION
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CITY OF EVANSTON, ILLINOIS
Principal Officials
February 28, 2007
Cheryl Wollin
Lionel Jean -Baptiste
Melissa A. Wynne
Steven J. Bernstein
LEGISLATIVE
CITY COUNCIL
Lorraine H. Morton, Mayor
EXECUTIVE
Julia A. Carroll, City Manager
FINANCE DEPARTMENT
Matthew A. Grady III, Finance Director and Comptroller
Steven Drazner, Assistant Finance Director
Patricia P. Ford, Payroll Manager
Jewell Jackson, Purchasing Manager
Kevin Lookis, Revenue Manager
Delores A. Holmes
Edmund B. Moran, Jr.
Elizabeth B. Tisdahl
Ann Rainey
Anjana Hansen
ADVISORY BOARDS
AND COMMISSIONS
CITY OF EVANSTON
ORGANIZATION CHART
EFFECTIVE AS OF AUGUST 27, 2007
1 RESIDENTS
MAYOR
CITY COUNCIL
CITY MANAGER I
CITY CLERK
FINANCE I I PUBLIC WORKS I
LAW I I HUMAN RESOURCES I
COMMUNITY
DEVELOPMENT
HEALTH AND
HUMAN SERVICES
FIRE POLICE
LIBRARY RECREATION, PARKS
AND FORESTRY
VI
Ciry of
Evanston
August 27, 2007
The Honorable Mayor Lorraine H. Morton,
Members of the City Council
City of Evanston, Illinois
INTRODUCTION
2100 Ridge Avenue
Evanston, Illinois 60201-2798
847.328.2100
847.328.4080
The Comprehensive Annual Financial Report (CAFR) of the City of Evanston (City) for the fiscal year
ended February 28, 2007 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 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.
vii
This report includes all the funds and capital assets of the City and its component unit, The Town of
Evanston. The Township Board of Trustees are 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 Virchow Krause, 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, 2007, 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, 2007, 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.
Evanston is contiguous to Chicago, and only 13 miles by rapid transit, commuter rail, expressway, or
parkway from downtown Chicago. It also 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.
viii
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.
There are 8,000 undergraduate students on the Northwestern campus in Evanston. About 4,000 students
live in university housing; another 900 live in fraternities and sororities and remaining 3,100 live off
campuses. They also have about 3,400 graduate students of which 600 live in two graduate student -
housing complexes and approximately 2,800 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 ten 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, refuse
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.
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 by December 315` 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 (four Saturday morning public hearings
were held prior to adoption of the 2007/08 budget) 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
ix
are levied; 2) debt service payments are budgeted upon tax levy for such purposes, and 3) 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
2007/2008, the City projects that 46.12% ($86.8 million) of all City expenditures will occur in the General
Fund. Other major funds include the Washington National Tax Increment District Fund, the Water Fund,
and the Sewer Fund.
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).
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. For every major expenditure, a purchase order is prepared and approved and the related
appropriation is encumbered before a check is issued.
MAJOR INITIATIVES
The City has been involved in a variety of projects throughout the year which reflect the City's
commitment to ensuring that its citizens are able to experience a high quality of life in both work and play.
The most significant of these projects are briefly described below:
The City Council unanimously approved the Evanston Strategic Plan on March 27, 2006 with a May 1,
2006 implementation date. Thirteen goals were developed that support the community's values. Some of
the notable successes over the past year are detailed below.
x
The Community Development department completed a survey of new downtown residents.
A Historic Resources Survey of 150 buildings was completed by Community Development.
A Business Retention Program was implemented by the City Manager and Community
Development staff. Twenty-one business and commercial sites were visited.
Information Systems began implementation of a computerized tracking system of all development
projects. This will allow the tracking of Community Development projects from inception (i.e.
zoning analysis or planned developments) through permitting, inspections, occupancy certificates
and document storage of records (Accela Software Solution). Expected completion date is
December 31, 2007.
A comprehensive inclusionary and affordable housing policy was approved by the City
Council. To date 36 households have been assisted.
The Sherman Plaza redevelopment project has 160,000 square feet of new retail, 90% of which
had already been leased. The City owns the attached 1,600 space parking garage which opened
in July, 2006. Condo occupancy as of August 2007 is at 98%.
The City of Evanston's Finance Department refunded bonds on December 19, 2006 for a total debt
service savings of $750,000 in the first of two transactions that will reduce City debt payouts by
over $1.2 million.
Parks/Forestry and Recreation received the following grants. From the Illinois Arts Council, Local
Arts Agency Program grant and Community Arts Access grant; Summer Food Program grant from
the U.S. Department of Agriculture, an Illinois Department of Commerce & Economic Opportunity
grant to renovate basketball and tennis courts, an award from Illinois Transportation Enhancement
Program for improvements of the lakefront bike path and a Community Development Block Grant
for renovations of Smith Park.
Expanded online registration options in the Parks/Forestry and Recreation Department became
available in August 2006. Feed back from residents has been overwhelmingly positive.
Nearly 15%, high percentages for a first year, of registrations were completed online.
Parks/Forestry and Recreation experienced a total enrollment increase of 11% in its Special
Recreation programs.
The Department of Health and Human Services began posting all restaurant inspections on line thru
the City's website. Residents can now check out the latest inspection results for all of the
community's food establishments. The website receives hundreds of hits a month.
As part of the City's Emergency Preparedness Plan, the Department of Health and Human Services
created a Medical Reserve Corps (MRC). This group is comprised of medical professionals who
work or reside in Evanston and are willing to assist the City in an emergency (accident, bioterrorist
attack, outbreak of infectious disease).
xi
As part of the City's green initiatives, The Health and Human Services Department sponsored a
lawn mower and gas can turn in day. The residents who turned in these items received plastic gas
cans and coupons redeemable for electric mowers. The city also hired a new Sustainability
Coordinator paid for by a grant through IL Department of Commerce and Economic Opportunities
for 2006-07
The upgrading of McCormick Boulevard was an example of sustainable practices. The conversion
of the lanes to a new configuration reduces the impact on trees and increases the safety from
opposing traffic. The recycling of the existing concrete base into subgrade aggregate material
saved the City over $250,000 in material and transportation costs.
The City is nearing the completion of the $200 million Long Range Sewer Improvement Program.
The improvements have included the installation of a new relief sewer system and substantial
renovations to the existing combined sewer system. These major improvements to the sewer
system are designed to eliminate basement sewer backups and mitigate the street flooding that has
historically plagued the area. The final phase of construction is now underway with completion
scheduled for 2009. Most of these improvements have been funded with low interest Illinois
Environmental Protection Agency loans.
FACTORS AFFECTING FINANCIAL CONDITION
The following are factors which give a broader context to the financial information contained in this CAFR
report.
Local Economy: At the local level we are experiencing a minor slow down in certain segments of the
housing market, but retail sales are steady. Retail sales should remain strong with the opening of the shops
of Sherman Plaza and the strength of our "big box" chains. Several of our major office and retail centers
have either been sold or taken on new partners which indicate a strong interest in the Evanston market.
The City has a five-year Capital Improvements Program, with planned improvements of $277,702,074 over
five years.
Risk Management: The City has changed its management approach to risk management and has in place
third -party administration of its liability and workers' compensation claims. Additionally, more staff and
resources are being dedicated to internal risk management. The City has also settled the majority of its
largest outstanding lawsuits from previous years and liability estimates are currently very low.
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
xii
through a state-wide plan managed by the Illinois Municipal Retirement Plan (IMRF). The City has fully
funded this plan.
AWARDS AND ACKNOWLEDGMENTS
The Government Finance Officers Association (GFOA) awarded a Certificate of Achievement for
Excellence in Financial Reporting to the City for its comprehensive annual financial report for the fiscal
year ended February 28, 2006. In order to be awarded a Certificate of Achievement, the government
published an easily readable and efficiently organized comprehensive annual financial report. This report
satisfied both generally accepted accounting principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current
comprehensive annual financial report continues to meet the Certificate of Achievement Program's
requirements and we are submitting it to the GFOA to determine its eligibility for another certificate.
In addition, the City also received the GFOA's Award for Distinguished Budget Presentation for its annual
appropriated budget dated March 1, 2006. In order to qualify for the Distinguished Budget Presentation
Award, the government's budget document was judged to be proficient in several categories, including
policy documentation, financial planning, and organization.
We acknowledge the contributions of Steven Drazner, the newly hired Assistant Finance Director and the
excellent work of the Accounting Manager, Remy Navarrete, and the Accounting Division staff in
preparing the financial statements. Appreciation is also extended to the entire staff of all accountants and
fiscal staff within the City's Finance Department including the recently consolidated Budget Division and
the Fiscal staff at each of our component units whose professionalism, dedication and efficiency
contributed to the preparation of this report. Also thanks to the Mayor's Office and members of City
Council for their interest and support in planning and conducting the City's financial affairs.
Respectfully submitted,
CA4,
a.
a A. Carroll
ty Manager
Matth A. Grady, III
Finance Director and Comptroller
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Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Evanston
Illinois
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
February 28, 2006
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.
��a10E OFpk��
� u�atrosuns �
s A
u""0A President
MORAIM
SFAL
Executive Director
xiv
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FINANCIAL SECTION
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INDEPENDENT AUDITORS' REPORT
ON THE FINANCIAL STATEMENTS
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R
VirchowKrause
&company
INDEPENDENT AUDITORS' REPORT
To Honorable Lorraine H. Morton, Mayor and
Members of the City Council
Evanston, Illinois
We have audited the accompanying financial statements of the governmental activities, the business -type
activities, each major fund, and the aggregate remaining fund information of the City of Evanston, Illinois,
as of and for the year ended February 28, 2007, which collectively comprise City of Evanston's basic
financial statements as listed in the table of contents. These financial statements are the responsibility of
the City of Evanston's management. Our responsibility is to express opinions on these financial
statements based on our audit. We did not audit the financial statements the Township of Evanston,
which represent 0.8 percent, 0.5 percent, and 1.0 percent, respectively, of the assets, net assets, and
revenues of the governmental activities and 0.8 percent, 0.5 percent, and 1.8 percent, respectively, of the
assets, fund balances, and revenues of the aggregate remaining fund information. Those financial
statements were audited by other auditors whose report thereon has been furnished to us, and our
opinion, insofar as it relates to the amounts included for the Township of Evanston, is based on the report
of other auditors.
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditino Standards,
issued by the Comptroller General of the United States. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. The financial statements of the Township of Evanston were
not audited in accordance with Government Auditinq Standards. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audit and the report of other auditors
provides a reasonable basis for our opinions.
In our opinion, based on our audit and the report of other auditors, the financial statements referred to
above present fairly, in all material respects, the respective financial position of the governmental
activities, the business -type activities, each major fund, and the aggregate remaining fund information of
the City of Evanston, Illinois as of February 28, 2007, and the respective changes in financial position,
and, where applicable, cash flows thereof for the year then ended in conformity with accounting principles
generally accepted in the United States of America.
In accordance with Government Auditina Standards, we have also issued a report dated August 27, 2007
on our consideration of City of Evanston's internal control over financial reporting and on our tests of its
compliance with certain provisions of laws, regulations, contracts and grant agreements and other
matters. The purpose of that report is to describe the scope of our testing of internal control over financial
reporting and compliance and the results of that testing, and not to provide an opinion on the internal
control over financial reporting or on compliance. That report is an integral part of an audit performed in
accordance with Government Auditing Standards and should be considered in assessing the results of
our audit.
Virchow, Krause & Company, LLP
Certified Public Accountants & Consultants • An Independent Member of Baker Tilly International
To Honorable Lorraine H. Morton, Mayor and
Members of the City Council
Evanston, Illinois
The management's discussion and analysis, the historical pension information and the budgetary
comparison schedules as listed in the table of contents are not a required part of the basic financial
statements but are supplementary information required by accounting principles generally accepted in the
United States of America. We and the other auditors have applied certain limited procedures, which
consisted principally of inquiries of management regarding the methods of measurement and
presentation of the required supplementary information. However, we did not audit the information and
express no opinion on it.
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City of Evanston's basic financial statements. The introductory section, combining and
individual nonmajor fund financial statements, and statistical section are presented for purposes of
additional analysis and are not a required part of the basic financial statements. The combining and
individual nonmajor fund financial statements have been subjected to the auditing procedures applied by
us and the other auditors in the audit of the basic financial statements and, in our opinion, based on our
audit and the report of other auditors, are fairly stated in all material respects in relation to the basic
financial statements taken as a whole. Other auditors previously audited, in accordance with auditing
standards generally accepted in the United States of America, the City of Evanston's basic financial
statements for the year ended February 28, 2006, which are not presented with the accompanying
financial statements. In their report dated August 4, 2006, they expressed unqualified opinions on the
respective financial statements of the governmental activities, the business -type activities, each major
fund, and the aggregate remaining fund information of the primary government of the City of Evanston,
Illinois. In their opinion, the 2006 amounts reported in the schedules are fairly stated in all material
respects in relation to the basic financial statements for the year ended February 28, 2006, taken as a
whole. The introductory section and statistical section have not been subjected to the auditing
procedures applied in the audit of the basic financial statements and, accordingly, we express no opinion
on them.
Oak Brook, Illinois
August 27, 2007
-2-
MANAGEMENT'S
DISCUSSION AND ANALYSIS
FEBRUARY 28, 2007
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 vii of this report.
FINANCIAL HIGHLIGHTS
A. The City's net assets increased by $13,730,744 (or 5.62%) from the prior fiscal year reported (FY 2006). The
governmental net assets increased by $5,334,267 (or 6.59% from Fy 2006) and the business -type activities net assets
increased by $8.396.477 (or 5.15% from FY 2006).
B. The governmental activities revenue increased by $1,584,738 (or 1.25%) from the prior year. The expenditures
increased by $4,668,806 (or 3.97%).
C. The business -type activities revenue decreased by $1,890,235 (or 5.32%). The expenditures increased by
$1,872,931 (or 7.81 %) from the prior year.
D. The total cost of all City programs increased by $6,541,727 or 4.62%.
E. The City of Evanston issued new debt in the amount of $24,720,000 during the current fiscal year. Of this amount,
$13,750,000 was used to partially refund previous issues and the balance used to fund various capital improvement
projects.
USING THIS ANNUAL REPORT
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.
REPORTING THE CITY AS A WHOLE
Government -wide Financial Statements
The City's annual report includes two government -wide financial statements. These statements provide both long-
-3-
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.
The government -wide financial statements are presented on pages 10 - 13 of this report.
REPORTING THE CITY'S MOST SIGNIFICANT FUNDS
Fund Financial Statements
A fund is an accountability unit used to maintain control over resources segregated for specific activities or objectives.
The City uses funds to ensure and demonstrate compliance with finance -related laws and regulations. Within the basic
financial statements, fund financial statements focus on the City's most significant funds, rather than the City as a whole.
Major funds are separately reported, while all others are combined into a single, aggregated presentation. Individual fund
data for nonmajor funds is provided in the form of combining schedules in a later section of this report.
The City has three kinds of funds:
Governmentalfinds 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.
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.
-4-
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 14 - 15 of this report.
Proprietary fiends 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 17 - 21 of this report.
Fiduciary fitnds 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 22 - 23 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 27 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 86 - 89 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 90. Additional information on capital assets and long-term debt can be found on page 48 and 59
respectively.
-5-
Financial Analysis of the City as a Whole
The City's combined net assets increased by $13,730,744 from FY 2006 - an increase from $244,019,419 to $257,750,163
Current and Other Assets
Capital Assets
Total Assets
Long -Term Liabilities
Other Liabilities
Total Liabilities
Net Assets
Investment in Capital
assets, net of Debt
Restricted
Unrestricted
Total Net Assets
STATEMENT OF NET ASSETS
Governmental Activities
2007 2006
$127,933,655 $132,931,957
141,126,725 177,431,799
269,060,380 310,363,756
128, 384,631 132, 862,214
54,337,685 96,497,745
182,722,316 229,359,959
Business -type Activities
2007
2006
$36,047,607
$39,038,968
320,029,048
271,180,593
356,076,655
310,219,561
156,668,520
119,708,579
27,996,036
27,495,360
184,664,556
147,203,939
31,132,837
34,426,799
140,621,172
128,692,273
27,444,436
33,745,651
9,373,730
10,449,106
27,760,791
12,831,347
21,417,197
23,874,243
$86,338,064
$81,003,797
$171,412,099
$163,015,622
Total Primary Government
2007
2006
$163,981,262
$171,970,925
461,155,773
448,612,392
625,137,035
620,583,317
285,053,151
252,570,793
82,333,721
123,993,105
367,386,872
376,563,898
171,754,009 163,119,072
36,818,166 44,194,757
49,177,988 36,705,590
$257,750,163 $244,019,419
1
The City's total revenues decreased by $305,497 or .2%. The City's total expenditures for all programs increased by
$6,541,727. Governmental activity total revenue increased slightly due to an increase in tax receipts and investment
income over the prior year which was somewhat offset by a reduction in capital grant revenue. Expenditures in the
governmental activities also increased from the prior year in a greater amount than the increase of revenues. Expenditure
increases were primarily due to increased costs incurred by public works followed by increases from Departments Housing
and Economic Development as well as interest expense. The revenue for business -type funds remained fairly constant
from the prior year while the increase in expenditures was primarily due to the operations of the new Sherman garage fund.
Governmental Funds: The governmental activities experienced a net increase of $5,334,267. This was mainly due to a an
increase in various tax revenues and investment income as well as a sharp decrease in transfers out to business -type
activity Funds.
Business Funds: The business -type activity funds experienced an increase in net assets of $8,396,477. While the overall
increase in net assets for business -type funds continues as in previous years, the increase itself is nevertheless materially
less than from the prior year. For the most part, expenditures in these funds remained constant from the prior year,
excluding an increase due to the necessity of operating the new Sherman Garage. Revenues for these Funds, specifically
the Water & Sewer Funds, decreased from the prior year, as did the amount transferred from the Governmental Funds.
This decrease in revenues in the Water & Sewer Funds can best be attributed to the cooler and wetter than average summer
season allowing for less water usage.
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
2007 2006 2007 2006 2007 2006
Revenue
Program Revenues:
Charges for services
Operating grants and
contributions
Capital grants and
contributions
General Revenues:
Sales taxes
Property taxes
Utility taxes
Other taxes
Investment income
Total Revenue
Expenses
General management and
support
Public safety
Public works
Health and human
resources development
Recreation and cultural
opportunities
Housing and economic
development
Interest
Water
Sewer
Sherman garage
Maple avenue garage
Motor vehicle parking
system
"total Expense
Increase in net assets before
transfer
'transfers
Increase in net assets
Net Assets - Beginning
Net Assets - Ending
$26,762,844
$27,663,692
$32,288,616
$34,626,625
$59,051,460
$62,290,317
3,678,555
3,440,889
3,678,555
3,440,889
185,076
1,126,610
185,076
1,126,610
14,386,432
14,096,471
14,386,432
14,096,471
61,982,603
46,177,463
61,982,603
46,177,463
8,108,008
8,858,217
8,108,008
8,858,217
9,179,229
22,090,240
9,179,229
22,090,240
3,752,377
2,996,804
1,344,020
896,246
5,096,397
3,893,050
128,035,124
126,450,386
33,632,636
35,522,871
161,667,760
161,973,257
19,950,558
19,536,566
19,950,558
19,536,566
46,368,286
45,950,611
46,368,286
45,950,611
16,504,737
14,631,723
16,504,737
14,631,723
6,107,514
4,781,198
6,107,514
4,781,198
18,303,273
19,791,683
18,303,273
19,791,683
7,924,011
6,850,300
7,924,011
6,850,300
6,926,538
5,874,030
6,926,538
5,874,030
8,778,360
8,759,592
8,778,360
8,759,592
9,587,903
9,219,174
9,587,903
9,219,174
1,613,186
0
1,613,186
0
2,910,151
3,096,444
2,910,151
3,096,444
0
2,962,499
2,903,968
2,962,499
2,903,968
122,084,917
117,416,111
25,852,099
23,979,178
147,937,016
141,395,289
5,950,207
9,034,275
7,780,537
11,543,693
13,730,744
20,577,968
(615,940)
(4,277,751)
615,940
4,277,751
5,334,267
4,756,524
8,396,477
15,821,444
13,730,744
20,577,968
81,003,797
76,247,273
163,015,622
147,194,178
244,019,419
223,441,451
$86,338,064
$81,003,797
$171,412,099
$163,015,622
$257,750,163
$244,019,419
-7-
Financial Analysis of the City's Funds
Governmental Funds
As discussed, governmental funds are reported in the fund statement with a short-term, inflow and outflow of spendable
resources focus. This information is useful in assessing resources available at the end of the year in comparison with
upcoming financing requirements. Governmental funds reported ending fund balances of $87,486,477 as a year-end total,
including $25,026,681 unrestricted, indicating availability for continuing City service requirements. Reserved fund
balances in the General Fund total $1,327,291 and Unreserved designated fund balances total $5,426,091 including
$2,590,000 for IMRF, $2,576,360 for Compensated absences and $259,731 for Capital projects.
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 increased by $1,361,611. Some revenues which came in greater than anticipated worth
mentioning are real estate transfer tax, poured liquor tax, sales tax, state income tax, ambulance fees and various other
charges for service fees. Revenue sources which missed expectations (budget) by a material amount include utility taxes,
cigarette tax, various State/County grants, and fines.
Combined Non -Major Governmental Funds
Combined non -major fund balances totaled $61,293,312, a decrease of $9,510,509 from prior year of $70,803,821. For
comparison purposes, it is important to note that the Washington National TIF was included as a major fund in the prior
year and a non -major fund this reporting year. Therefore, excluding the Washington National TIF, there was a decrease of
$2,367,414 from the prior year. The funds which contributed the greatest to the decrease in fund balances were the Motor
Fuel Tax, Capital Improvement, Central Business Tax TIF, and Washington National TIF.
Proprietary Funds
The proprietary fund statements share the same focus as the government -wide statements, reporting both short-term and
long-term information about financial status.
The main proprietary funds operated by the City are the Water, Sewer, and Sherman Garage Funds, whereas the non -major
proprietary funds include the Maple Garage and Parking Funds. The three major funds had a solid year financially with a
total fund balance increase of $4,338,536. Although fund balances in these major proprietary funds showed a healthy
increase, it is important to keep in mind that these funds carry a heavy debt load and therefore, large debt payments will be
required in the future. The non -major proprietary Maple Garage and Motor Vehicle Parking Funds also had increases in
fund balance as well, but the primary reason for the increase in Maple Garage was from a interfund transfer in from the
Central Business TIF Fund. While the Parking System Fund is largely self supporting, the Maple Garage may require
future fund transfers in from the Central Business TIF Fund to cover near term debt payments.
Internal Service Funds
The City's combined internal service funds net assets were $6,473,196 as of February 28, 2007. At March 1, 2006, the
combined funds had a balance of $2,853,763.
General Fund Budgetary Highlights
The original budgets for the General Fund and other funds did not have to be amended this year. Actual expenditures in
the General Fund were over budget primarily due to the Police and Fire Departments as well as Illinois Municipal
Retirement Pension costs.
Capital Assets
The City established a policy of capitalizing equipment and vehicles with $20,000 or more in value and infrastructure and
building improvements with $100,000 or more in value. The City's investment in capital assets, net of accumulated
depreciation, for governmental and business -type activities, as of February 28, 2007, was $460,886,773. The total
decrease in governmental funds capital assets was $36,305,074 while there was an increase of $48,579,455 for business -
type activity capital assets. The overall percent increase in capital assets was 2.7% for the City as a whole. Major capital
asset events during the current fiscal year included continued construction of the downtown revitalization projects.
Readers desiring more detailed information on capital asset activity should see Note 6 in the Notes to the Financial
Statements.
Long -Term Debt
At the end of the fiscal year, the City had total bonded debt outstanding of $187,745,000. The other major component of
$96,780,000 supported by pledged revenues generated primarily by the business -type activities of the City and City's five
Tax Increment Financing (TIF) Districts. During the current year, the City issued $24.72 million in fixed rate general
obligation bonds for various City projects, including a partial refunding of series 2002C and 2003B bonds totaling
$13,750,000. 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.
Bond Ratings
The City's general obligation bonds are rated Aaa and VIMG-1 by Moody's Investor Rating Service and AAA by Fitch
Ratings. Evanston City Water Fund revenue bonds are rated Aal and AA for uninsured issues. The Aaa and AAA rating
were confirmed during the year for the Series 2005 bond issue which was for capital improvements and construction of the
Sherman Plaza garage project.
Economic Factors
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. Sales taxes, the best indicator of economic health, came in slightly over budget. Most other major revenues
came in at or above budgeted levels, with telecommunications as an exception.
The unemployment rate in Evanston is consistent with that of surrounding communities and at or below the State average.
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 overall state of the economy may play less of a role related to employment as compared to communities containing a
larger number of for -profit businesses.
The Water & Sewer Funds generated a combined $16,485,455 in cash from normal operating activities during the fiscal
year. Although this may appear to be a sizable amount of cash, one must realize that these funds carry high debt levels and
debt payments require use of most of this operating cash inflow. This debt was issued and necessary to fund for the
completion of an overhaul of the City's sewer system.
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.citvofevanston.ore.
This page has been intentionally left blank.
CITY OF EVANSTON, ILLINOIS
Statement of Net Assets
February 28, 2007
Assets
Cash and equivalents
Investments
Receivables (net, where applicable,
of allowances for uncollectibles)
Property taxes
Accounts
Loan
Notes
Special assessments
Accrued interest
Other
Due from other governments
Due from other agency
Internal balances
Inventories
Restricted assets
Cash and equivalents and investments
Capital assets
Capital assets not being depreciated
Construction in progress
Capital assets (net of accumulated
depreciation)
Other assets
Total Assets
$
The accompanying notes are an integral part of this statement.
Primary Government
Governmental
Business -type
Activities
Activities
Total
58,336,470 $
5,927,736 $
64,264,206
12,160,809
3,153,635
15,314,444
41,918,202
-
41,918,202
-
4,357,429
4,357,429
-
5,082,571
5,082,571
5,543,739
-
5,543,739
906,547
-
906,547
141,040
157,934
298,974
2,518,430
57,464
2,575,894
6,077,256
-
6,077,256
5,575
-
5,575
(29,372)
29,372
-
354,959
899,576
1,254,535
-
16,381,890
16,381,890
25,252,516
3,297,937
28,550,453
1,586,104
6,241,742
7,827,846
114,288,105
310,220,369
424,508,474
-
269,000
269,000
269,060,380
356,076,655
625,137,035
-10-
Liabilities
Vouchers payable
Accrued payroll
Interest payable
Other payables
Due to other governments
Due to pension funds
Payable from restricted assets
Vouchers payable
Interest payable
Unearned revenues
Noncurrent liabilities
Payable from restricted assets - due
within one year
Due within one year
Due in more than one year
Total Liabilities
Net Assets
Investment in capital assets, net of related debt
Restricted
Culture and recreation
Debt service
Other
Unrestricted
Total Net Assets $
Primary Government
Governmental
Business -type
Activities
Activities
Total
4,455,567 $
971,678 $
5,427,245
1,549,376
117,059
1,666,435
-
41,324
41,324
130,361
-
130,361
441,099
-
441,099
2,821,242
-
2,821,242
-
2,378,681
2,378,681
-
1,027,165
1,027,165
25,430,044
-
25,430,044
-
8,855,296
8,855,296
23,339,186
45,652,648
68,991,834
124,555,441
125,620,705
250,176,146
182,722,316
184,664,556
367,386,872
31,132,837
140,621,172 171,754,009
991,431
- 991,431
26,197,533
9,373,730 35,571,263
255,472
- 255,472
27,760,791
21,417,197 49,177,988
86,338,064 $ 171,412,099 $ 257,750,163
- 11 -
CITY OF EVANSTON, ILLINOIS
Statement of Activities
Year ended February 28, 2007
Functions/Prop-rams
Governmental activities:
General management and support
Public safety
Public works
Health and human resource development
Recreation and cultural opportunities
Housing and economic development
Interest
Total governmental activities
Business -type activities:
Water
Sewer
Sherman garage
Maple avenue garage
Motor vehicle parking system
Total business -type activities
Total primary government
The accompanying notes are an integral part of this statement.
Program Revenues
Operating
Charges for Grants and
Expenses Services Contributions
S 19,950,558
$ 13,630,360 $
103,964
46,368,286
353,682
91,572
16,504,737
170,254
2,232,092
6,107,514
1,259,298
1,215,897
18,303,273
4,352,943
35,030
7,924,011
6,996,307
-
6,926,538
-
-
122,084,917
26,762,844
3,678,555
8,778,360
12,639,143
-
9,587,903
14,394,268
-
1,613,186
779,150
-
2,910,151
1,417,468
-
2,962,499
3,058,587
-
25,852,099
32,288,616
-
5 147,937,016
$ 59,051,460 $
3,678,555
General revenues:
Property tax
Personal property replacement
tax
Sales and home rule tax
Income tax
Utility tax
Gain on sale of capital assets
Miscellaneous
Investment income
Transfers
Total general revenues and
transfers
Change in net assets
Net assets - beginning
Net assets - ending
-12-
Net (Expense) Revenue and Changes in Net Assets
Capital
Grants and Governmental Business -type
Contributions Activities Activities Total
163,957 $
(6,052,277) $
- $
(6,052,277)
-
(45,923,032)
(45,923,032)
-
(14,102,391)
-
(14,102,391)
21,119
(3,611,200)
-
(3,611,200)
-
(13,915,300)
-
(13,915,300)
-
(927,704)
-
(927,704)
-
(6,926,538)
-
(6,926,538)
185,076
(91,458,442)
-
(91,458,442)
-
-
3,860,783
3,860,783
-
-
4,806,365
4,806,365
-
-
(834,036)
(834,036)
-
-
(1,492,683)
(1,492,683)
-
-
96,088
96,088
-
-
6,436,517
6,436,517
185,076
(91,458,442)
6,436,517
(85,021,925)
61,982,603
-
61,982,603
1,379,509
-
1,379,509
14,386,432
-
14,386,432
6,186,428
-
6,186,428
8,108,008
-
8,108,008
62,901
-
62,901
1,550,391
-
1,550,391
3,752,377
1,344,020
5,096,397
(615,940)
615,940
-
96,792,709
1,959,960
98,752,669
5,334,267
8,396,477
13,730,744
$1,003,797
163,015,622
244,019,419
$
86,338,064 $
171,412,099 $
257,750,163
-13-
CITY OF EVANSTON, ILLINOIS
Governmental Funds
Balance Sheet
February 28, 2007
Assets
Nonmajor Total
Governmental Governmental
General Funds Funds
Cash and equivalents
$ 15,861,003 $
42,110,619 $
57,971,622
Investments
1,000,000
6,332,934
7,332,934
Receivables
Property taxes (net of allowance)
15,326,039
26,592,163
41,918,202
Notes (net of allowance)
-
5,543,739
5,543,739
Special assessments
-
906,547
906,547
Accrued interest
11,290
129,750
141,040
Other
2,105,915
349,014
2,454,929
Due from other governments
5,817,766
259,490
6,077,256
Due from other funds
97,762
99,542
197,304
Total Assets
$ 40,219,775 $
82,323,798 $
122,543,573
Liabilities and Fund Balances
Liabilities
Vouchers payable $
2,762,061 $ 1,484,310 $
4,246,371
Accrued payroll
1,504,581 16,106
1,520,687
Compensated absences payable
162,370 -
162,370
Other
127,220 3,141
130,361
Due to other governments
22,902 418,197
441,099
Due to other funds
10,285 3,115,879
3,126,164
Unearned revenues
9,437,191 15,992,853
25,430,044
Total Liabilities
14,026,610 21,030,486
35,057,096
Fund Balances
Reserved
1,327,291 31,741,272
33,068,563
Unreserved designated
5,426,091 -
5,426,091
Unreserved
Capital project funds
- 23,965,142
23,965,142
Special revenue funds
- 5,586,898
5,586,898
General fund
19,439,783 -
19,439,783
Total Fund Balances
26,193,165 61,293,312
87,486,477
Total Liabilities and Fund Balances $
40,219,775 $ 82,323,798
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.
134,330,975
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.
(141,952,584)
The net assets of the internal service fund are included in
the governmental activities in the
statement of net assets.
6,473,196
Net assets of governmental activities
$
86,338,064
The accompanying notes are an integral part of this statement.
-14-
CITY Or EVANSTON, ILLINOIS
Governmental Funds
Statement of Revenues, Expenditures, and Changes in Fund Balances
Year ended February 28, 2007
Nonmajor
Total
Governmental
Governmental
General
Funds
Funds
Revenues
Taxes
$ 42,264,921 $
34,871,526 $
77,136,447
Licenses and permits
8,060,996
-
8,060,996
Special assessments
-
565,204
565,204
Intergovernmental
16,338,153
5,063,835
21,401,988
Charges for services
7,167,364
-
7,167,364
Fines and forfeits
4,029,228
-
4,029,228
Investment income
777,165
2,917,869
3,695,034
Miscellaneous
4,949,769
627,800
5,577,569
Total Revenues
83,597,596
44,046,234
127,633,830
Expenditures
Current
General management and support
12,829,182
1,709,848
14,539,030
Public safety
30,272,639
9,416,912
39,689,551
Public works
12,436,547
1,845,900
14,282,447
Health and human resource development
5,049,621
800,000
5,849,621
Recreation and cultural opportunities
16,681,579
1,000
16,682,579
Housing and economic development
3,093,676
4,589,821
7,683,497
Pensions
5,645,241
-
5,645,241
Debt service
Principal
-
11,530,000
11,530,000
Interest
-
6,926,538
6,926,538
Fiscal agent fees
-
516,861
516,861
Capital outlay
-
18,986,145
18,986,145
Total Expenditures
86,008,485
56,323,025
142,331,510
Excess (Deficiency) of Revenues
Over (Under) Expenditures
(2,420,889)
(12,276,791)
(14,697,680)
Other Financing Sources (Uses)
Transfers in
4,257,500
2,071,308
6,328,808
Transfers out
(475,000)
(9,853,036)
(10,328,036)
Issuance of debt
-
24,720,000
24,720,000
Premiums and discounts
-
195,693
195,693
Escrow funding
-
(14,367,683)
(14,367,683)
Total Other Financing Sources (Uses)
3,782,500
2,766,282
6,548,782
Net Change in Fund Balances
1,361,611
(9,510,509)
(8,148,898)
Fund Balances -Beginning of Year
24,831,554
70,803,921
95,635,375
Fund Balances - End of Year
$ 26,193,165 $
61,293,312 $
87,486,477
The accompanying notes are an integral part of this statement.
-15-
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CITY OF EVANSTON, ILLINOIS
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances
of Governmental Funds to the Statement of Activities
Year ended February 28, 2007
Amounts reported for governmental activities in the statement of activities are different because:
Net change in fund balances - total governmental funds $ (8,148,898)
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.
12,472,985
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. 25,280,000
Issuance of 2006 and 2006B 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. 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. (24,915,693)
Governmental funds expend current financial resources in the acquisition of capital assets. A
portion of an asset and related debt was transferred to a proprietary fund. The net effect of this
transfer of assets was a decrease of governmental activities. (1,221,112)
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, (1,752,448)
Internal service funds are reported separately in the fund financial statements. 3,619,433
Change in net assets of governmental activities $ 5,334,267
The accompanying notes are an integral part of this statement.
-96-
CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Statement of Net Assets
February 28, 2007
Business -type Activities- Enterprise Funds
Governmental
Activities-
Nonmajor
Internal
Sherman
Proprietary
Service
Water
Sewer
Garage
Funds
Total
Funds
Assets
Current Assets
Cash and equivalents
$ 103,565
$ - $
1,809,935
$ 4,014,236
S 5,927,736
$ 364,848
Investments
-
-
-
3,153,635
3,153,635
4,827,875
Restricted cash and equivalents
and investments
179,521
6,594,984
-
-
6,774,505
-
Receivables
Accounts - billed
1,067,139
200,269
-
-
1,267,408
-
Accounts - unbilled
875,241
2,214,780
-
-
3,090,021
-
Loan
-
5,082,571
-
5,082,571
-
Accrued interest
137,998
-
-
19,936
157,934
-
Other
55,862
150
4
1,448
57,464
63,501
Due from other funds
I5,208
87,025
80
5,500
107,813
105,000
Inventories
544,075
355,501
-
-
899,576
354,959
Total Current Assets
2,978,609
9,452,709
6,892,590
7,194,755
26,518,663
5,716,183
Noncurrent Assets
Restricted cash and equivalents
and investments
9,607,385
-
-
-
9,607,385
-
Capital Assets
Land
555,415
-
2,742,522
3,297,937
Construction in progress
455,211
5,786,531
-
-
6,241,742
-
Capital assets being depreciated
62,907,213
219,401,123
40,926,869
35,884,254
359,119,459
19,877,815
Less accumulated depreciation
(15,453,066)
(25,641,527)
(765,276)
(7,039,221)
(48,899,090)
(13,082,065)
Total Capital Assets
48,464,773
199,546,127
40,161,593
31,587,555
319,760,048
6,795,750
Other Assets
Receivables
Notes
-
-
-
269,000
269,000
-
Total Noncurrent Assets
58,072,158
199,546,127
40,161,593
31,856,555
329,636,433
6,795,750
Total Assets
61,050,767
208,998,836
47,054,183
39,051,310
356,155,096
12,511,933
The accompanying notes are an integral part of this statement.
-17-
Liabilities
Current Liabilities
Vouchers payable
Vouchers payable - restricted
Accrued payroll
Interest payable
Interest payable - restricted
Revenue bonds payable
Revenue bonds payable - restricted
Compensated absences payable
General obligation bonds payable
General obligation bonds payable - restrictei
Unamortized bond expenses and discount
Claims payable
Notes payable - Sewer IEPA Loans - restrict
Due to other funds
Total Current Liabilities
Long -Term Liabilities
Notes payable - Sewer IEPA Loans
General obligation bonds payable
Revenue bonds payable
Unamortized bond expenses and discount
Claims payable
Total Long -Term Liabilities
Total Liabilities
Net Assets
Invested in capital assets, net of
related debt
Restricted for debt service
Unrestricted
Total net assets
Business -type Activities- Enterprise Funds
Governmental
Activities-
Nonmajor
Internal
Sherman
Proprietary
Service
Water
Sewer
Garage
Funds
Totals
Funds
$ 361,865
S 295,758
$ 141,563 $
172,492
$ 971,678
$ 209,196
77,235
2,301,446
-
-
2,378,681
-
73,235
23,143
-
20,681
117,059
28,689
-
-
41,324
41,324
21,453
1,005,712
-
1,027,165
404,167
-
-
404,167
80,833
-
-
80,833
-
431,005
83,468
-
71,133
585,606
83,473
-
-
35,810,000
8,530,000
44,340,000
-
-
2,155,000
-
2,155,000
-
-
-
(10,376)
(10,376)
-
-
-
-
-
821,700
-
6,942,338
-
6,942,338
-
41,935
15,208
485
20,813
78,441
21,179
1,491,728
12,822,073
35,952,048
8,846,067
59,111,916
1,164,237
-
92,548,583
-
-
92,548,583
-
-
16,365,000
11,465,000
2,500,000
30,330,000
2,755,000
-
-
-
2,755,000
16,935
(19,437)
(2,502)
-
-
-
-
-
-
4,874,500
2,771,935
108,894,146
11,465,000
2,500,000
125,631,081
4,874,500
4,263,663
121,716,219
47,417,048
11,346,067
184,742,997
6,038,737
45,612,005
81,554,643
(7,113,407)
20,567,931
140,621,172
6,795,750
9,373,730
-
-
-
9,373,730
-
1,801,369
5,727,974
6,750,542
7,137,312
21,417,197
(322,554)
$ 56,787,104
$ 87,282,617
$ (362,865) $
27,705,243
$ 171,412,099
$ 6,473,196
-18-
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CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Combining Statement of Revenues, Expenses, and Changes in Fund Net Assets
Year ended February 28, 2007
Operating Revenues
Charges for services
Miscellaneous
Total Operating Revenues
Operating Expenses Excluding Depreciation
Administration
Operations
Total Operating Expenses
Excluding Depreciation
Operating Income (Loss) Before Depreciation
Depreciation
Operating Income (Loss)
Nonoperating Revenues (Expenses)
Investment income
Interest expense
Bond expenses and amortization of discount
Gain (loss) on disposition of assets
Total Nonoperating Revenues (Expenses)
Income (Loss) before transfers and contributions
Capital Contribution -
Governmental Activities
Transfers In (Out)
Central Business Tax Increment District Fund
Insurance Fund
Washington National Tax Increment District Fund
Capital Improvement Fund
Water Fund
Sewer Fund
Economic Development Fund
General Fund
Total Transfers In (Out)
Change in Net Assets
Total Net Assets - Beginning of Year
Total Net Assets - End of Year
The accompanying notes are an integral part of this statement
Business -type Activities- Enterprise Funds
Governmental
Activities-
Nonmajor
Internal
Sherman
Proprietary
Service
Water
Sewer
Garage
Funds
Total
Funds
$ 12,194,340
$ 14,374,349
$ 779,150
$ 4,465,723
$ 31,813,562
$ 6,919,400
444,803
19,919
-
10,332
475,054
149,803
12,639,143
14,394,268
779,150
4,476,055
32,288,616
7,069,203
642,518
-
-
1,096,420
1,738,938
6,257,545
2,587,322
847,910
3268,579
12.961.356
7,360,656
6,900,063
2,587,322
847,910
4,364,999
14,700,294
7,360,656
5,739,080
11,806,946
(68,760)
111,056
17,588,322
(291,453)
1,384,583
2,834,158
765,276
857,575
5,841,592
1,553,190
4,354,497
8,972,788
(834,036)
(746,519)
11,746,730
(1,844,643)
557,799
474,454
9,231
302,536
1,344,020
57,343
(142,359)
(3,812,641)
-
(639,053)
(4,594,053)
-
1,129
(5,982)
(11,023)
(15,876)
-
(4,684)
-
(4,684)
106,733
411,885
(3,344,169)
9,231
(347,540)
(3,270,593)
164,076
4,766,382
5,628,619
(824,805)
(1,094,059)
8,476,137
(1,680,567)
1,221,112
-
1.221.112
-
4,502,000
4,502,000
-
(2,000,000)
(3,000,000)
-
(5,000,000)
(759,172)
(759,172)
2,000,000
2,000,000
-
-
-
2,000,000
-
-
-
3,000,000
650,000
650,000
(2,693,600)
-
(2,693,600)
300,000
(2,693,600)
(3,000,000)
(759,172)
5,152,000
(1,300,772)
5,300,000
2,072,782
2,628,619
(362,865)
4,057,941
8,396,477
3,619,433
54,714,322
84,653,998
-
23,647,302
163,015,622
2,853,763
$ 56,787,104
$ 87,282,617
$ (362,865)
$ 27,705,243
$ 171,412,099
$ 6,473,196
-19-
CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Statement of Cash Flows
Year ended February 28, 2007
Cash Flows from Operating Activities
Receipts from customers and users
Receipts from interfund services provided
Payments to suppliers
Payments to employees
Payments for interfund services provided
Net Cash Provided by (Used for) Operating Activities
Cash Flows from Noncapital Financing Activities
Transfers In (Out)
Central Business Tax Increment District Fund
Insurance Fund
Washington National Tax Increment District Fund
Capital Improvement Fund
Water Fund
Sewer Fund
Economic Development Fund
General Fund
Net Cash Provided by (Used for) Noncapital Financing Activities
Cash Flows from Capital and Related Financing Activities
Sale of capital assets
Acquisition and construction of capital assets
Principal paid on revenue bonds
Interest paid on revenue bonds
Principal paid on general obligation bonds
Interest paid on general obligation bonds
Principal paid on IEPA loans
Interest paid on IEPA loans
Proceeds from IEPA loans
Net Cash (Used for) Capital and Related Financing Activities
Cash Flows from Investing Activities
Purchase of investments
Interest income
Net Cash Provided by Investing Activities
Net Increase (Decrease) in Cash and Equivalents
Cash and Equivalents
Beginning of year
End of year
Reconciliation
Cash and equivalents
Current Cash
Restricted Current Cash
Unrestricted
Restricted Non Current Cash
The accompanying notes are an integral part of this statement
Business -type Activities- Enterprise Funds
Governmental
Activities-
Nonmajor Internal
Sherman Proprietary Service
Water Sewer Garage Funds Total Funds
$ 12,440,776 $ 14,677,501 $ 779,150 $ 4,531,890 32,429,317 $ 7,025,727
(1,862)
(290,188)
405 54,500
(237,145)
176,650
(6,503,751)
(2,312,124)
(706,347) (3,323,730)
(12,845,952)
(4,649,952)
(586,754)
10,343
(1,130,107)
(1,706,518)
(1,692,547)
7,705
7,705
963,945)
(104,067)
5,348,409
12,085,532
73,208 140,258
17.647.407
4,502,000 4,502,000
(2,000,000) (3,000,000) (5,000,000)
(759,172) (759,172)
2,000,000 2,000,000
650,000 650,000
({2,693,600)) - (2,693,600)
(2,693,600) (3,000,000) (759,172) 5,152,000 0.300,77_)
(4,210,543) (9,029,484) 2,486,668
(470,000)
(145,087)
(2,050,000)
(1,161,845)
(6,408,292)
(2,650,796)
4.498.539 -
(4,825,630) (16,801.878) 2.486.668
(258,837) (11,012,196)
(470,000)
(145,087)
(5,785,000) (7,835,000)
(639,053) (1,800,898)
(6,408,292)
(2,650,796)
4.498,539
(6,682,890) (25.823,730)
2,000,000
3,000,000
300,000
5,30U,000
129,798
(1,294,308)
(1,164,510)
(3,857,343)
557,799 474,454 9,231 302,536 1,344,020 57,343
557,799 474,454 9,231 302,536 1344A20 (3,800,000)
(1,613,022) (7,241,892) 1,809,935 (1,088,096) (8,133,075) 231,423
11,503,493 13,836,876 - 8,255,967 33,596,336 133,425
$ 9,890,471 $ 6,594M4 $ 1,809,935 $ 7.167,871 $ 25,463.261 $ 364,848
$ 103,565 $ $ 1,809,935 $ 4,014,236 $ 5,927,736 $ 364,848
179,521 6,594,984 - 6,774,505 -
3,153,635 3,153,635
9,607,385 - 9,607.385 -
$ 9,890,471 $ 6,594.984 $ 1,809,935 S 7.167,871 S 25.463,261 $ 364,848
Continued
t'dr1!
CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Statement of Cash Flows - Continued
Year ended February 28, 2007
Reconciliation of Operating Income (Loss) to Net Cash Provided
by (Used for) Operating Activities
Operating income (loss)
Depreciation
Changes in assets and liabilities
Other receivables
Accounts receivable
Interfund receivable
Inventories
Accrued interest receivable
Compensated absences
Accrued payroll
Interfund payable
Vouchers payable
Vouchers payable (restricted)
Interest payable (restricted)
Claims payable
Net Cash Provided by (Used for) Operating Activities
Business-tvpe Activities- Enterprise Funds
Governmental
Activities-
Nonmajor Internal
Sherman Proprietary Service
Water Sewer Garage Funds Total Funds
$ 4,354,497 $ 8,972,788 $ (834,036) $ (746,519) $ 11,746,730 $ (1,844,643)
1,384,583
2,834,158 765,276
857,575
5,841,592
1,553,190
(35,374)
10,238
(25,136)
(43,476)
(24,995)
218,332
40,000
233,337
(1,862)
(290,188) 405
54,500
(237,145)
176,650
(16,913)
(222,489)
(239,402)
(73,982)
(137,998)
64,901
5,597
(67,500)
43,105
4,337
(35,510)
11,932
(19,102)
12,659
6,006
1,823
20,488
4,352
7,705
7,705
(963,945)
70,322
66,538 141,563
(47,576)
230,847
(55,197)
(299,615)
514,476
214,861
(83,327)
(7,575)
(90,902)
1,162,086
$ 5,348,409 $ 12,085,532 $ 73,208 $ 140,258 $ 17,647,407 $ (104,067)
Note: Non Cash Capital Asset Acquisition
Sherman Garage Fund incurred a non cash transaction transfer of net capital assets of $40,926,869 and related debt of $47,275,000
from the governmental activities of the City and the recognition of the loan receivable related to the sale of transferred property in the
amount of $5,082,575.
The accompanying notes are an integral part of this statement
ME
CITY OF EVANSTON, ILLINOIS
Fiduciary Funds
Statement of Net Assets
February 28, 2007
Pension
Special Assessment
Trust Funds
Agency Fund
Assets
Cash and short-term investments
$ 7,328,516
$ 21,073
Receivables
Accrued interest
458,368
Due from other funds
2,821,242
Total Receivables
3,279,610
-
Investments, at fair value
U.S. Government obligations
50,119,192
Common stock
11,651,855
Mutual funds
33,250,396
Total Investments
95,021,443
-
Total Assets
105,629,569
21,073
Liabilities
Vouchers payable 6,462
Due to special assessment bondholders - 21,073
Total Liabilities 6,462 21,073
Net assets held in trust $ 105,623,107 $ -
The accompanying notes are an integral part of this statement.
-22-
CITY OF EVANSTON, ILLINOIS
Fiduciary Funds - Pension Trust Funds
Statement of Changes in Plan Net Assets
Year ended February 28, 2007
Pension
Trust Funds
Additions
Contributions
Employer $ 8,102,605
Plan members 1.940.581
Total contributions 10,043,186
Investment income
Net appreciation in
fair value of investments 4,256,212
Interest 3,313,160
Total investment income 7,569,372
Less investment expense 314,607
Net investment income 7,254,765
Total additions 17,297,951
Deductions
Benefits 10,571,217
Refunds of contributions 102,448
Administrative expense 55,459
Total deductions 10,729,124
Net increase 6,568,827
Net assets held in trust for pension benefits
Beginning of year 99,054,280
End of year $ 105,623,107
The accompanying notes are an integral part of this statement.
-23-
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CITY OF EVANSTON, ILLINOIS
Index for Notes to the Financial Statements
Page
Note 1.
Summary of Significant Accounting Policies
A.
Reporting Entity
27
B.
Government -wide and Fund Financial Statements
28
C.
Fund Accounting
29
D.
Measurement Focus, Basis of Accounting, and Financial Statement Presentation
30
E.
Cash and Equivalents
33
F.
Investments
33
G.
Inventories
33
H.
Capital Assets
33
I.
Compensated Absences
34
J.
Long -Term Obligations
34
K.
Self -Insurance
35
L.
Property Taxes
35
M.
Fund Equity
36
N.
Interfund Transactions
36
O.
Use of Estimates
36
Note 2. Reconciliation of Government -wide and Fund Financial Statements
A. Explanation of Certain Differences between the Governmental Fund Balance
Sheet and the Government -wide Statement of Net Assets 37
B. Explanation of Certain Differences between the Governmental Fund Statement
of Revenues, Expenditures, and Changes in Fund Balances and the Government -
wide Statement of Activities 37
Note 3. Stewardship, Compliance, and Accountability
A. Budgetary Information
39
B. Deficit Fund Equity 41
Note 4. Deposits with Financial Institutions and Investments
A. Types of Accounts and Securities 41
B. Pooling of Cash and Investments 42
C. Types of Investments 42
D. Deposits 44
E. Reconciliation of Unrestricted and Restricted Cash and Investments 45
-24-
CITY OF EVANSTON, ILLINOIS
Index for Notes to the Financial Statements
Page
(continued from previous page)
Note 5. Receivables
A. Summary of Receivables 47
B. Notes Receivable — Special Revenue Funds 47
C. Notes Receivable — Sherman Garage Fund 47
Note 6. Capital Assets
A.
Capital Asset Activity
48
B.
Construction Commitments
50
Note 7.
Interfunds
A.
Interfund Accounts
51
B.
Interfund Transfers
55
C.
Capital Contribution
57
Note 8.
Operating Leases
58
Note 9.
Long -Term Debt
A.
Changes in Long -Term Debt
59
B.
General Obligation Bonds Payable
61
C.
Special Service District Bonds Payable
62
D.
Revenue Bonds Payable
63
E.
Notes Payable — Sewer IEPA Loans
63
F.
Prior Years' General Obligation Bond Defeasances
64
G.
Prior Years' Special Service District #5 Bond Defeasances
65
Note 10.
Fund Equity
A.
Restrictions of Net Assets - Water Fund
65
B.
Restricted Net Assets - Fiduciary Funds
66
C.
Reservations of Fund Equity
67
D.
Unrestricted Fund Equity - Designated
68
Note 11.
Individual Fund Activities
A.
General Obligation Debt Service Fund
69
B.
Water Fund
69
C.
Special Service District No. 4
69
Note 12. Risk Management — Claims and Judgments 70
Note 13. Subsequent Events 71
- 25 -
CITY OF EVANSTON, ILLINOIS
Index for Notes to the Financial Statements
Page
(continued from previous page)
Note 14. Contingencies 71
Note 15. Joint Ventures
A. Northwestern University 71
B. Solid Waste Agency of Northern Cook County 72
C. Evanston Housing Corporation 74
Note 16. Deferred Compensation Plan 75
Note 17. Defined Benefit Pension Plans
Illinois Municipal Retirement Fund
A. Plan Description
B. Funding Status and Progress
C. Annual Pension Cost
Police and Firefighters' Pension Plans
D. Plan Descriptions
E. Summary of Significant Accounting Policies
- Basis of Accounting
- Method Used to Value Investments
F. Contributions and Reserves
G. Concentration of Investments
H. Three -Year Trend Information — Pension Trust Funds
I. Pensions - Detailed Statement of Net Assets
J. Pensions - Detailed Statement of Changes in Net Assets
K. Pensions - Actuarial Valuations
76
77
77
Z7
80
80
80
81
82
83
84
85
-26-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements of the City of Evanston (City) have been prepared in conformity with accounting
principles generally accepted in the United States of America as applied to governmental units (hereinafter
referred to as generally accepted accounting principles (GAAP)). The Governmental Accounting Standards
Board (GASB) is the accepted standard -setting body for establishing governmental accounting and financial
reporting principles.
The more significant of the City's accounting policies are described below.
A. Reporting Entity
The City was incorporated in 1863. The City operates under a Council -Manager form of government, is a home
rule municipality as defined by Illinois state law, and provides the following services as authorized by its
charter: general management and support, public safety, public works, health and human resource development,
recreational and cultural opportunities, and housing and economic development.
As required by GAAP, these financial statements present the City (the primary government) and its component
unit, an entity for which the City is considered to be financially accountable. Although the component unit is
legally a separate entity, it is governed by the same board; therefore, data from this unit is blended with data of
the City.
Blended Component Unit:
The Town of the City of Evanston, Illinois (Township) is a separate legal entity which administers General
Assistance, a public welfare program assigned by Illinois law to townships. Eligible clients receive General
Assistance for food, shelter, and medical needs. Through the town -fund levy, the Township also supports a
number of community action programs, which provide direct services to welfare recipients. The Township is
governed by a Township Board of Trustees and provides services within the same geographic boundaries of the
City. The Township Board of Trustees are the same individuals as the City Council. The Township board
levies taxes and is responsible for adopting the Township budget and approving payment of bills. The
Township has two elected officials: the Supervisor and the Assessor, each elected for four-year terms. The
Supervisor is responsible for Township funds and for the administration of General Assistance. The Assessor
does not actually assess property; that function is carried out by the Cook County Assessor. The Township
Assessor serves as a taxpayer's advocate, helping citizens with tax -related questions.
The Assessor also works to assure equity of assessments, and maintains records of building and demolition
permits and of all tax-exempt properties. The Township Board of Trustees can issue debt on its own behalf, and
such debt can be issued in the Township's name alone.
-27-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
A. Reporting Entity - Continued
The Township is included in the Reporting Entity due to its financial accountability because the Township
Board of Trustees are the same individuals as the City Council members. The Township has a March 31 fiscal
year-end. Amounts included in this report are as of and for the year ended March 31, 2006. This report is the
most recent one available.
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:
The City participates in three joint ventures, which are reported as nonequity governmental joint ventures and
are described in Footnote 15. The joint ventures are: City of Evanston and Northwestern University Research
Park; Solid Waste Agency of Northern Cook County (SWANCC); and Evanston Housing Corporation.
B. Government -wide and Fund Financial Statements
The government -wide financial statements (i.e., the statement of net assets and the statement of activities)
report information on all of the nonfiduciary activities of the City. The effect of interfund activity has been
removed from these statements excluding interfund services provided. Governmental activities, which
normally are supported by taxes and intergovernmental revenues, are reported separately from business -type
activities, which rely to a significant extent on fees and charges for support.
The statement of activities demonstrates the degree to which the direct expenses of a given function or segment
are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function
or segment. Program revenues include l) charges to customers or applicants who purchase, use, or directly
benefit from goods, services, or privileges provided by a given function or segment and 2) grants and
contributions that are restricted to meeting the operational or capital requirements of a particular function or
segment. Taxes and other items not properly included among program revenues are reported instead as general
revenues.
-28-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
B. Government -wide and Fund Financial Statements - Continued
Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds, even
though the latter are excluded from the government -wide financial statements. Major individual governmental
funds and major individual enterprise funds are reported as separate columns in the fund financial statements.
Nonmajor funds are reported in the supplementary information.
C. Fund Accounting
The City uses funds to report on its financial position and the results of its operations. A fund is a separate
accounting entity with a self -balancing set of accounts. Fund accounting is designed to demonstrate legal
compliance and to aid financial management by segregating transactions related to certain government
functions or activities.
Funds are classified into three categories: governmental, proprietary, and fiduciary. Each category, in turn, is
divided into separate "fund types."
Governmental finds 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.
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.
Fiduciary funds are used to account for assets held on behalf of outside parties, including other governments, or
on behalf of other funds within the City. When these assets are held under the terms of a formal trust
agreement, a permanent fund is used. Agency funds generally are used to account for assets that the City holds
on behalf of others as their agent. The pension trust fund accounts for the activities of the Police and
Firefighters' Pension funds, which accumulate resources for pension benefit payments to retired police and fire
personnel.
29 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — Continued
D. Measurement Focus, Basis of Accounting, and Financial Statement Presentation
The government -wide financial statements are reported using the economic resources measurement focus and
the accrual basis of accounting, as are the proprietary fund statements. Revenues are recorded when earned and
expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes
are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as
revenue as soon as all eligibility requirements imposed by the provider have been met.
Governmental fund financial statements are reported using the current financial resources measurement focus
and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and
available. Revenues are considered to be available when they are collectible within the current period or soon
enough thereafter to pay liabilities of the current period. For this purpose, the City considers property taxes as
available if they are collected within 60 days of the end of the current fiscal period. A six month availability
period is used for revenue recognition for all other governmental fund revenues. Expenditures generally are
recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well
as expenditures related to compensated absences, are recorded when payment is due or when amounts have
been accumulated in the debt service fund for payment to be made early in the following year.
The following revenues associated with the current fiscal period are all considered to be susceptible to accrual
and so have been recognized as revenues of the current fiscal period.
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
-30-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — Continued
D. Measurement Focus, Basis of Accounting, and Financial Statement Presentation - Continued
All other revenue items are considered to be measurable and available only when cash is received by the City.
The City reports the following major governmental funds:
The General Fund is the City's primary operating fund. It accounts for all financial resources of the
general government, except those required to be accounted for in another fund.
Governmental funds report unearned revenue in connection with receivables for revenues that are not
considered to be available to liquidate liabilities of the current period.
The City reports the following major proprietary funds:
The Water Fund accounts for the provision of water services to the residents of the City and the sale of
water to the Village of Skokie, Illinois, and the Northwest Water Commission. All activities necessary
to provide such services are accounted for in this fund, including, but not limited to, administration,
operation, maintenance, financing and related debt service, and billing and collection.
The 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 Sherman Garage Fund accounts for the provision of the public and residential parking facility on
Sherman Avenue. All activities are accounted for including administration, operations, financing and
revenue collection.
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.
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.
ME
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
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 funds and of
the City's internal service funds are charges to customers for sales and services. Operating expenses for
enterprise funds and internal service funds include the cost of sales and services, administrative expenses, and
depreciation on capital assets. All revenues and expenses not meeting this definition are reported as
nonoperating revenues and expenses.
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.
-32-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — Continued
E. Cash and Equivalents
Cash and equivalents represent cash on hand, cash deposited in interest -bearing and noninterest-bearing
checking accounts, and investments in money markets, certificates of deposit, and treasury obligations with
maturities of three months or less at the date of acquisition, and cash deposited with the Illinois Funds.
F. Investments
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. Investments with over one year to maturity are reported at fair value. All other investments
are stated at cost or, for U.S. government securities, amortized cost. These securities maybe purchased at a
premium or discount which is amortized over the life of the investment. This valuation method approximates
fair value.
G. Inventories
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.
H. Capital Assets
Capital assets, which include property, plant, and equipment and infrastructure assets (e.g. roads, sidewalks,
trails, bridges, and similar items), are reported in the applicable governmental or business -type activities
columns in the government -wide financial statements. Capital assets are defined by the government as
equipment and vehicles with an initial, individual cost of more than $20,000, or infrastructure, buildings, or
building improvements with an initial, individual cost of more than $100,000. Such assets are recorded at
historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at
estimated fair market value at the date of donation.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets'
lives are not capitalized. Infrastructure acquired prior to the February 28, 2003 implementation of GASB 34
has been reported.
Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest incurred
during the construction phase of capital assets of business -type activities is included as part of the capitalized
value of the assets constructed.
- 33 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES — Continued
H. Capital Assets - Continued
Property, plant, and equipment are depreciated using the straight-line method over the following estimated
useful lives:
Description
Land improvements
Leasehold improvements
Plant
Transmission and distribution
system
Sewer system and
underground lines
Parking meters
1. Compensated Absences
Years
Description
Years
10-100
Buildings and improvements
10-50
10-100
Office equipment and furniture
5-15
20-100
Machinery and equipment
5-15
Infrastructure
30-100
5-100
Library collections
7
75-100
15
It is the City's policy to permit employees to accumulate earned but unused vacation and sick pay benefits. All
payments due in the event of termination are accrued when incurred in the government -wide and proprietary
fund financial statements. The General Fund has been used in prior years to liquidate the liability for
compensated absences of governmental funds.
J. Long -Term Obligations
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.
In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as
bond issuance costs, during the current period. The face amount of debt issued is reported as other financing
sources. Premiums received on debt issuances are reported as other financing sources, while discounts on debt
issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt
proceeds received, are reported as debt service expenditures.
-34-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
K. Self -Insurance
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.
L. Property Taxes
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 property tax calendar for Cook County is as follows:
Lien Date
Levy Date
First Installment Due Date
(one-half of prior bill)
Second Installment Due Date
(balance of total bill)
January 1 of Levy Year
December of Levy Year
March 1 of Year following Levy Year
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,
2006 and February 28, 2007 and all property tax collections received within 60 days after the end of the fiscal
year.
The adjustment necessary to convert GAAP basis property tax revenues to budgetary basis is shown in the notes
to the required supplementary information in the section on Budgets and Budgetary Accounting.
The Town Fund and General Assistance Fund unearned revenue represents the net portion of the 2005 property
tax levy that will not be collected within 60 days of the Township's March 31, 2006 year-end. A 5% allowance
for loss is reflected in the Township financial statements.
-35-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
M. Fund Equity
In the fund financial statements, governmental funds report reservations of fund balance for amounts that are
not available for appropriation or are legally restricted by outside parties for use for a specific purpose.
Designations of fund balance represent management plans that are subject to change.
N. Interfund Transactions
Transactions that constitute reimbursements to a fund for expenditures/expenses initially made from it that are
properly applicable to another fund are recorded as expenditures/expenses in the reimbursing fund and as
reductions of expenditures/expenses in the fund that is reimbursed. All other interfund transactions are
reported as operating transfers.
O. Use of Estimates
In preparing financial statements, management is required to make estimates and assumptions that affect the
reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the
financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual
results could differ from those estimates.
-36-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 2. RECONCILIATION OF GOVERNMENT -WIDE AND FUND FINANCIAL STATEMENTS
A. Explanation of Certain Differences between the Governmental Fund Balance Sheet and the
Government -wide Statement of Net Assets
The governmental fund balance sheet includes a reconciliation between fund balance - total governmental fiends
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 $141,952,584 difference are as follows:
General obligation bonds payable $ 110,920,000
Special service district bonds payable 3,070,000
Bonds premium liability 4,527,694
Compensated absences payable 9,814,590
Pension contributions payable 13,620,300
Net adjustments to reduce fund balance —
total governmental funds to arrive at net
assets — governmental activities. $ 141,952,584
B. Explanation of Certain Differences between the Governmental Fund Statement of Revenues,
Expenditures, and Changes in Fund Balances and the Government -wide Statement of Activities
The government fund statement of revenues, expenditures, and changes in fund balances includes a
reconciliation between net changes in fund balances — total governmental funds and changes in net
assets of governmental activities as reported in the government -wide statement of activities. One
element of that reconciliation explains that "Governmental funds report capital outlays as
expenditures. However, in the statement of activities, the cost of those assets is allocated over their
estimated useful lives and reported as depreciation expense." The details of this $12,472,985
difference are as follows:
Capital outlay $ 18,332,983
Depreciation expense (5,859,998)
Net adjustment to increase net changes in
fiord balances - total governmental funds to
arrive at changes in net assets of
governmental activities $ 12,472,985
siren
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 2. RECONCILIATION OF GOVERNMENT -WIDE AND FUND FINANCIAL STATEMENTS
— Continued
B. 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
2. 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 $25,280,000 difference are as follows:
Principal repayments:
General obligation debt
SSD#5 Bond refunded
$ 25,015,000
265,000
Net adjustment to increase net changes in fund balances —
total governmental funds to arrive at changes in net assets
of governmental activities $ 25,280,000
3. 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 ($1,752,448) difference are as follows:
Compensated absences
Amortization income
Pension contributions
$ (1,665,458)
343,952
(430,942)
Net adjustment to decrease net changes in fund balances —
total governmental funds to arrive at changes in net assets of
governmental activities $ (1,752,448)
4. Another element of that reconciliation states that "Issuance of 2006 and 2006B 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
($24,915,693) difference are as follows:
2006 Bond Series $ (10,290,000)
2006B Bond Series (14,430,000)
Bonds premium liability (195,693)
Net adjustment to decrease net changes in fund balances —
total governmental funds to arrive at changes in net assets of
governmental activities $ (24,915,693)
-38-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
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. 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.
2. Public budget hearings are conducted. Taxpayer comments are received and noted.
3. The budget is legally enacted through passage of a resolution.
4. 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.
5. 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 (Budgetary Basis) Schedule of Revenues, Expenditures, and Changes in Fund Balance,
GAAP revenues and expenditures have been adjusted to the budgetary basis.
Blended Component Unit
The Township prepares its annual appropriation ordinance, which is synonymous with its budget, using
the modified accrual basis of accounting. The appropriation ordinance was adopted on June 28, 2005.
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.
The following City and Township funds do not have legally adopted budgets:
Special Revenue
Library, Neighborhood Improvement, HOME, Community Development Loan, Employee Pension
Contribution
S&Z
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 3. STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY - Continued
A. Budgetary Information - Continued
Capital Projects
Capital Improvements, Central Business Tax Increment District, Washington National Tax Increment
District, Special Assessment
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.
The following City funds had an excess of actual budgetary expenditures over original and final budget for the
year ended February 28, 2007:
Fund
Actual
Budget
Excess
Central Business Tax Increment District
$ 7,756,004 $
4,799,800 $
2,956,204
Southwest Tax Increment District
917,519
292,800
624,719
Howard Hartrey Tax Increment District
704,676
693,700
10,976
Community Development Block Grant
2,692,229
2,052,319
639,910
Economic Development
1,021,385
848,900
172,485
Motor Fuel Tax
1,845,900
1,500,000
345,900
General Fund
86,026,230
85,609,800
416,430
-40-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 3. STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY - Continued
B. DEFICIT FUND EQUITY
The Insurance Fund, an internal service fund, had a net assets deficit of $617,573 as of February 28, 2007. The
City plans to use current resources and possible debt proceeds to pay for future liabilities.
The Sherman Garage Fund had a net assets deficit of $ 362,865 as of February 28, 2007. The City plans to use
current resources and possible debt proceeds to pay for future liabilities.
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS
A. Types of Accounts and Securities
Illinois statutes and the City's investment policies authorize the City to invest in obligations of the U.S.
Treasury, in Government Sponsored Enterprises (GSE) such as Federal Home Loan Mortgage Corporation
(FHLMC), Federal Home Loan Bank (FHLB), and Fannie Mae (FNMA); Bankers acceptances as well as
comercial paper rated only in the highest tier; Repurchase agreements of the highest grade; Collateralized
certificates of deposit issued by FDIC insured financial institutions, money market mutual funds with portfolios
limited to securities guaranteed by the United States, the Illinois Metropolitan Investment Fund (IMET), and the
Illinois Funds.
It is the policy of the City to invest public funds in a manner whereby its investment objectives are prioritized in
the following order: Safety of Principal, Liquidity, and Rate of Return. The City also seeks to maintain
diversification of investments to avoid overconcentration of any one specific issuer or business sector. To
mitigate interest rate risk, the City tries to structure the investment portfolio to meey 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.
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.
B. Pooling of Cash and Investments
Except for cash and investments in certain restricted and special accounts, the City pools the cash of various
funds to maximize interest earnings. Interest income is allocated to the various funds based upon their
respective participation.
-41 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS - Continued
C. Types of Investments
As of February 28, 2007, the City has the following investments and maturities.
Governmental and Enterprise
Investment Maturities (In Years)
Investment Type
Fair Value
Less Than 1 Year
1 - 10 More Years Equities
Money Market / Liquid Assets
$
26,383,976
$
26,383,976
$ - $ -
Illinois Funds
29,264,101
29,264,101
- -
Mutual Funds
1,828,904
-
- 1,828,904
Federal Home Loan Mortgage Corp
8,269,520
6,779,580
1,489,940 -
Federal Home Loan Bank
6,974,208
3,474,208
3,500,000 -
Fannie Mae
8,630,622
5,470,741
3,159,881 -
Certificate of Deposits
4,844,729
3,900,000
944,729 -
Corporate Notes
507,844
-
507,844 -
Total Governmental and Enterprise
Investment Fund
$
86.703.904
$
75.272.606
$ 9,602.394 $ 1.828.904
[MET Money Market
$
4,921,186
Fifth Third Money Market
1,163,000
First Bank Money Market
3,301,878
Fidelity Money Market
812,297
JP Morgan Monet Market
15,716,319
Vanguard Money Market
469,296
Total Monev Market
$
26,383.976
Township
Investment Maturities (In Years)
Investment Type
Fair Value
Less Than 1 Year
1 - 10 More Years Equities
Illinois Funds
$
833.528
$
833,528
$ - $ -
Total Township Investment
$
833.528
$
833,528
$ - $ -
MIRM
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS - Continued
C. Types of Investments - continued
Fire and Police Pension
Investment Maturities (In Years)
Investment Type
Fair Value
Less Than 1 Year
1 - 10 More Years Equities
Money Market / Liquid Assets
$ 6,811,404
$ 6,811,404
$ - $ -
Mutual Funds
33,250,396
-
3,558,803 29,691,593
U.S. Treasuries
23,376,487
2,487,824
20,888,663 -
Federal Farm Credit Bank
23,325
-
23,325 -
Federal Home Loan Bank
1,573,897
-
1,573,897 -
Federal Home Loan Mortgage Corp
8,243,105
571,835
7,671,270 -
Fannie Mae
12,649,443
4,521,480
8,127,963 -
Ginnie Mae
4,252,936
7,242
4,245,694 -
Common Stock
11,651,855
-
- 11,651,855
Total Fire and Police Investment
$ 101.832.848
$ 14.399.785
$ 46.089.615 $ 41.343.448
JP Morgan Trust Money Market
$ 292,131
Smith Barney Money Market
2,317,849
JP Morgan Monet Market
1,980,027
Schwab Money Market
733,552
MB Bank Money Market
1,384,224
IMET Money Market Convenience
103,621
$ 6,811,404
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.
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. As of June 30, 2006, 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%. The City's investment in Federal Home Loan
Mortgage, Fannie Mae, and Federal Home Loan Bank bonds were rated AAA by Standard & Poor's and Aaa by
Moody's Investors Service.
- 43 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS - Continued
C. Types of Investments - continued
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.
Concentration of Credit Risk. It is the policy of the City to diversify its investment portfolio. Investments
shall be diversified to eliminate the risk of loss resulting in overconcentration in a security, maturity, issuer, or
class of securities.
D. Deposits
Cijy
Deposits consist of deposits in interest -bearing and noninterest-bearing checking accounts. At February 28,
2007, the carrying amount of the City's deposits, including cash on hand of $41,183, was $8,154,181, The
financial institutions' balances totaled $9,477,237.
Township
At March 31, 2006, the carrying amount of the Township's deposits was $268,926. The financial institutions'
balances totaled $275,391.
Fiduciary
Deposits consist of deposits in interest -bearing and noninterest-bearing accounts. At February 28, 2007, the
carrying amount of the Pension's deposits was $517,112 and $21,073 for Agency. The financial institutions'
balances totaled $523,362 and $21,073, respectively.
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:
iL!
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS — Continued
E. Reconciliation of Unrestricted and Restricted Cash and Investments - Continued
Unrestricted cash and equivalents $ 64,264,206
Unrestricted investments 15,314,444
Restricted cash and equivalents and investments 16,381,890
Total Cash and Investments — Primary Government 95,960,540
Fiduciary funds cash and equivalents 7,349,589
Fiduciary funds investments 95,021,443
Total Cash and Investments $ 198,331,572
Carrying amount of deposits — from Note 4 D $ 8,961,292
Investments — from Note 4 C 189,370,280
Total $ 198,331,572
- 45 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 5. RECEIVABLES
A. Summary of Receivables
Receivables as of year - end for the government's individual major funds and nonmajor, internal service, and fiduciary funds in the
aggregate, including the applicable allowances for uncollectible accounts, are as follows:
Nonmajor
Nonmajor
General
Sherman
Enterprise
and Other
Fund
water
Sewer
Garage
Fund
Funds
Total
Receivables:
Property taxes
$ 15,632,560 $
$
$
$
$
27,124,006 $
42,756,566
Accounts
-
1,942,380
2,415,049
4,357,429
Loan
-
-
5,082,571
5,082,571
Notes
5,640,388
5,640,388
Special assessments
906,547
906,547
Accrued interest
11,290
137,998
-
-
19,936
129,750
298,974
Other
2,105,915
55,862
150
4
1,448
412,515
2,575,894
Gross receivables
17,749,765
2,136,240
2,415,199
5,082,575
21,384
34,213,206
61,618,369
Less: allowance for
uncollectibles
306,521
-
-
-
628,492
935,013
Net total receivables
$ 17,443,244 $
2,136,240 $
2,415,199 $
5,082,575 $
21,384 $
33,584,714
60,683,356
Net total receivables - Statement of Net Assets
B. Notes Receivable — Special Revenue Funds
$ 60,683,356
The City makes loans to City residents for the rehabilitation of single-family and multi -family housing. Initial funding for these loans was from
Community Development Block Grant (CDBG) and Housing and Urban Development (HUD) Funds. Two types of loans are made: (1) title
transfer loans which are due in full when the housing unit is sold, and (2) amortizing loans which are due in monthly installments over varying
lengths of time. Repayments of principal and any interest earned on these receivables, which are recorded in the respective Special Revenue funds,
are used to make additional rehabilitation loans. An allowance of $96,649 exists in the Special Revenue funds due to doubtful accounts. Loan
activity for the current year is summarized as follows:
Interest Beginning Loans Loan End of
Rates of Year Made Repayments Year
0% - 8% $ 6,132,171 $ 209,627 $ 798,059 $ 5,543,739
C. Notes Receivable - Sherman Garage Fund
Sherman Garage Fund incurred a non cash transaction transfer of capital assets of $48,496,1 12. The City sold 303 parking spaces to the developer
at $24,981 per space for a total of $7,569,243. There was an outstanding receivable from the developer in the amount of $5,082,575 with no interest
accruing as of 02/28/2007.
-47-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 6.
A. Capital Asset Activity
Capital asset activity for the year ended February 28, 2007, was as follows:
Beginning of
Year Additions Deletions End of Year
Governmental activities:
Capital assets, not being depreciated:
Land
Right of way
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
$ 6,556,620
$
$ -
$ 6,556,620
18,695,896
-
-
18,695,896
41,657,942
8,424,274
48,496,112
1,586,104
66,910,458
8,424,274
48,496,112
26,838,620
78,509,383
284,674
-
78,794,057
9,534,769
544,334
-
10,079,103
20,939,965
1,462,813
1,183,237
21,219,541
85,894,840
8,400,945
-
94,295,785
10,192,310
510,251
1,414,292
9,288,269
664,069
-
-
664,069
205,735,336
11,203,017
2,597,529
214,340,824
23,434,757
1,796,053
-
25,230,810
5,070,621
1,312,902
-
6,383,523
13,306,814
1,706,164
1,160,172
13,852,806
44,116,889
2,172,064
-
46,288,953
8,620,845
426,005
1,414,292
7,632,558
664,069
-
-
664,069
95,213,995
7,413,188
2,574,464
100,052,719
110,521,341
3,789,829
23,065
114,288,105
$ 177,431,799
$ 12,214,103
$ 48,519,177
$ 141,126,725
-48-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 6.
A. Capital Asset Activity - Continued
Business -type activities:
Capital assets, not being depreciated:
Land
Construction in progress
Total capital assets, not being depreciated
Capital assets, being depreciated:
Land improvements
Buildings and improvements
Leasehold improvements
Plant
Transmission and distribution system
Sewer system and underground lines
Equipment
Parking meters
Total capital assets being depreciated
Less accumulated depreciation for:
Land improvements
Buildings and improvements
Leasehold improvements
Plant
Transmission and distribution system
Sewer system and underground lines
Equipment
Parking meters
Beginning
of Year Additions Deletions End of Year
S 3,297,937
$ -
$ -
$ 3,297,937
18,279,118
14,108,812
26,146,188
6,241,742
21,577,055
14,108,812
26,146,188
9,539,679
3,386,672
-
-
3,386,672
31,428,772
40,926,869
-
72,355,641
302,752
-
-
302,752
31,444,243
584,969
46,372
31,982,840
26,118,377
4,198,334
-
30,316,711
197,675,521
20,523,664
29,566
218,169,619
1,931,234
-
33,698
1,897,536
448,851
258,837
-
707,688
292,736,422
66,492,673
109,636
359,119,459
700,932
80,567
-
781,499
4,877,656
1,482,125
-
6,359,781
266,829
13,262
-
280,091
9,327,262
719,685
41,777
10,005,170
4,260,094
641,397
-
4,901,491
21,932,686
2,719,276
-
24,651,962
1,465,219
141,361
33,609
1,572,971
302,206
43,919
-
346.125
Total accumulated depreciation
43,132,884
5,841,592
75,386
48,899,090
Total capital net assets being depreciated, net
249,603,538
60,651,081
34,250
310,220,369
Business -type activities capital assets, net
$ 271,180,593
$ 74,759,893
$ 26,180,438
$ 319,760,048
-49-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 6.
A. Capital Asset Activity - Continued
Depreciation expense was charged to functions/programs of the primary government as follows:
Governmental activities:
General management and support $ 2,895,965
Public safety 513,479
Public works 2,194,627
Recreation and cultural opportunities 1,809,117
Total depreciation expense — governmental activities $ 7,413,188
Business — type activities:
Water $ 1,384,583
Sewer 2,834,158
Sherman Garage 765,276
Maple Avenue Garage 684,932
Motor Vehicle Parking 172,643
Total depreciation expense — business — type activities $ 5,841,592
B. Construction Commitments
The value of construction contracts signed, where the work has not yet been performed at February 28, 2007, is as follows:
Capital Improvement Fund $ 471,021
Water Fund 21,337
Sewer Fund 14,098,754
Total Construction Commitments $ 14,591,112
-50-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7 INTERFUNDS
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.
A. Interfund Accounts
At February 28, 2007 interfund receivables and payables consist of the following:
Due from
Due to
Funds
Other Funds
Other Funds
Governmental Funds
General Fund
Emergency Telephone System $
1,240 S
-
Economic Development
2,059
-
EVNORSKO
5,575
-
Fleet Service
20,384
-
Insurance
795
-
Community Development Block Grant
293
-
Washington National Tax Increment District
450
-
Central Business Tax Increment District
170
-
Capital Improvements
9,063
-
Maple Avenue Garage
8,514
-
Sherman Garage
485
-
Motor Vehicle Parking System
6,799
-
Water
41,935
-
Sewer
-
4,056
Firefighters Pension
183
Police Pension
-
6.046
Total General Fund
97.762
10.285
Nonmajor Governmental Funds
Motor Fuel Tax
Community Development Loan
1,113
-
Economic Development
General
-
2,059
Capital Improvement
-
35,202
West Evanston Tax Increment District
10.381
-
Total Economic Development
10,381
37.261
Emergency Telephone System
General
-
1.240
-51-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7 INTERFUNDS - Continued
A. Interfund Accounts - Continued
Funds
Nonmajor Governmental Funds - Continued
HOME
Community Development Block Grant S
Community Development Block Grant
General
HOME
Community Development Loan
Total Community Development Block
Grant
Community Development Loan
Community Development Block Grant
Motor Fuel Tax
Total Community Development Loan
Special Service District No. 4
Washington National Tax Increment District
Employer Pension Contribution
Firefighters Pension
Police Pension
Total Employer Pension Contribution
Town
General Assistance
General Assistance
Town
Central Business Tax Increment District
General
Washington National Tax Increment District
Special Service District No. 4
West Evanston Tax Increment District
Economic Development
Capital Improvements
Fleet
Economic Development
Sewer
Special Assessment
General
Total Capital Improvements
Due from Due to
Other Funds Other Funds
- S
7,100
-
293
7,100
-
-
5,155
7,100
5,448
5,155
-
1.113
5,155
1,113
-
19,221
-
1,333,766
-
1,481,247
-
2,815,013
17,853 -
17,853
170
19,221 -
10,381
- 105,000
35,202 -
- 82,969
3,517
- 9,063
35,202 200,549
-52-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7 INTERFUNDS - Continued
A. Interfund Accounts - Continued
Funds
Nonmajor Governmental Funds - Continued
Washington National Tax Increment District
General
Special Assessment
Capital Improvements
Sherman Garage
Total Special Assessment
Total Nonmajor Governmental Funds
Total Governmental Funds
Enterprise Funds
Water
Sewer
General
Total Water
Sewer
General
Capital Improvements
Water
Total Sewer
Sherman Garage
Special Assessment
General
Total Sherman Garage
Nonmajor Enterprise Funds
Maple Avenue Garage
General
Motor Vehicle Parking System
Total Maple Avenue Garage
Due from Due to
Other Funds Other Funds
- $ 450
3,517 -
- 80
3,517 80
99,542 3,115,879
197,304 3,126,164
15,208 -
- 41,935
15,208 41,935
4,056 -
82,969 -
- 15.208
87,025 15,208
80 -
- 485
80 485
- 8,514
5,500 -
5,500 8,514
53 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7 INTERFUNDS - Continued
A. Interfund Accounts - Continued
Due from
Due to
Funds
Other Funds
Other Funds
Nonmajor Enterprise Funds - Continued
Motor Vehicle Parking System
General $
- $
6,799
Maple Avenue Garage
-
5,500
Total Motor Vehicle Parking System
-
12,299
Total Nonmajor Enterprise Funds
5,500
20,813
Total Enterprise Funds
107,813
78,441
Internal Service Funds
Fleet Services
General
-
20,384
Capital Improvements
105,000
-
Total Fleet Services
1051.000
20,384
Insurance
General
-
795
Total Internal Service Funds
105,000
21,179
Trust and Agency Funds
Firefighters Pension
General
183
-
Employer Pension Contribution
1,333,766
-
Total Firefighters Pension
1,333,949
-
Police Pension
General
6,046
-
Employer Pension Contribution
1,481,247
-
Total Police Pension
1,487,293
Total Trust and Agency Funds
2,821,242
-
Total All Funds
3,231,359
3,225,784
Less total due from other Agency (EVNORSKO)
(5,575)
-
Total Primary Government $
3,225,784 $
3,225,784
-54-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7 INTERFUNDS - Continued
B. Interfund 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.
At February 28, 2007 transfers in / out consist of the following:
Funds
Governmental Funds
General Fund
Motor Fuel Tax $
Mayor's Special Housing
Central Business Tax Increment District
Washington National Tax Increment District
Howard Hartrey Tax Increment District
Southwest Tax Increment District
Capital Improvements
Special Assessment
General Obligation Debt
Water
Fleet
Total General Fund
Nonmajor Governmental Funds
Motor Fuel Tax
General
Economic Development
Maple Avenue Garage
Mayor's Special Housing
General
Community Development Block Grant
Community Development Loan
Community Development Loan
Community Development Block Grant
Transfers Transfers
In Out
772,500 $
31,800
325,000
144,800 -
135,000 -
23,000 -
100,000 -
31,800 -
- 175,000
2,693,600 -
- 300,000
4,257,500 475,000
772,500
650,000
31,800
4,321 -
4,321
-55-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7. INTERFUNDS - Continued
B. Interfund Transfers - Continued
Funds
Nonmajor Governmental Funds - Continued
Town
General Assistance $
General Assistance
Town
General Obligation Debt
General
Special Assessment
Total General Obligation Debt
Central Business Tax Increment District
General
Washington National Tax Increment District
Maple Avenue Garage
Total Central Business Tax Increment
District
Southwest Tax Increment District
General
Howard Hartrey Tax Increment District
General
Washington National Tax Increment District
General
Water
Sherman
Central Business Tax Increment District
Total Washington National
Tax Increment District
Capital Improvements
Water
General
Total Capital Improvement
Special Assessment
General
General Obligation Debt
Total Special Assessment
Total Nonmajor Governmental Funds
Total Governmental Funds
Transfer Transfer
In Out
- S 125.000
125,000
175,000
337,500 -
512,500
325,000
845,315
4,502,000
5,672,315
23,000
135,000
144,800
- 727,500
1,486,672 -
845,315 -
2,331,987 872,300
2,000,000
100,000
2,100,000
31,800
337,500
369,300
2,973,808 10,755,536
7,231,308 11,230,536
IKs
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7 INTERFUNDS - Continued
B. Interfund Transfers - Continued
Transfer
Transfer
Funds
In
Out
Enterprise Funds
Water
General S
- S
2,693,600
Capital Improvement
2,000,000
-
Insurance
-
2,000,000
Total Water
2,000,000
4,693,600
Sewer
Insurance
-
3,000,000
Sherman Garage
Washington National Tax Increment District
727,500
1,486,672
Nonmajor Enterprise Funds
Maple Avenue Garage
Central Business Tax Increment District
4,502,000
-
Economic Development
650,000
-
Total Maple Avenue Garage
5,152,000
-
Total Nonmajor Enterprise Funds
5,152,000
-
Total Enterprise Funds
7,879,500
9,180,272
Internal Service Funds
Fleet Services
General
300,000
-
Insurance
Water
2,000,000
-
Sewer
3,000,000
-
Total Insurance
5,000,000
-
Total Internal Service Funds
5,300,000
-
Total All Funds
20,410,808
20,410,808
Total Primary Government S
20,410,808 S
20,410,808
C. Capital Contribution
A Capital contribution was made from governmental activities
to the Sherman garage fund in the amount of $ 1,221,112.
1510
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 8 Operating Leases
The City has various operating leases covering the rental of several digital office copiers from the Toshiba America
Information Systems, Document Vision Technologies, and GE Capital. The copiers are located in the Evanston Civic
Center, Library, Recreation Department, Water Department and the Evanston Police and Fire Station.
During the 2006 fiscal year, the lease of 4 copiers for the Police and Recreation Departments, with monthly payments of
$1,757, was terminated and replaced with a new contract from Document Vision Technologies for a 60-month term starting
April 2005 (monthly payment $2,541), which added 2 copiers for the fourth floor and first floor of the Evanston Civic
Center
The City leases 9 copiers for the Library from GE Capital, with 60 months term start February 2004 (monthly payment of
$1,789), 4 copier for Police Department from GE Capital with 60 months term start February 2004 (monthly payment of
$1,930 and $247), 1 copier for Hearing Department from Document Vision Technologies with 60 months term start June
2003 (monthly payment of $190), 1 copier for Budget Department from Document Vision Technologies with 60 months
term start April 2003 (monthly payment of $490), 1 copier for Water Department from Document Vision Technologies
with 36 months term start December 2004 (monthly payment of $305), 3 copier for Fleet Department from GE Capital with
36 months term start March 2004 (monthly payment of $600), 1 copier for Chandler Center from GE Capital with 60
months term start September 2004 (monthly payment of $302), and 2 copier for Parks & Recreation from with 60 months
term start February 2004 (monthly payment of $1,759).
Payment on existing leases include 9 copiers for the Evanston Civic Center (monthly payment of $776), 3 copiers for
Parks/Forestry and Recreation (monthly payment of $2,626), and 1 copier for the Fire Department (monthly payment of
$410).
Minimum annual lease payments are as follows:
$ 152,939
105,236
33,649
2,541
$ 294,365
-58-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 9. LONG-TERM DEBT
A. Changes in Long -Term Debt
Final
Interest Maturity
Rate Date
Governmental activities
General obligation bonds/corporate purpose bonds
Series 1997
5.00%-5.50%
12/l/2017 $
Series 1998
4.80%-4.875%
12/l/2018
Series 1999
4.25%-5 00%
12/1/2019
Series 2000
Variable Rate
12/1/2021
Series 2002A
Variable Rate
12/l/2018
Series 2002B
Variable Rate
12/l/2007
Series 2002C
5 00%-5.80%
1/l/2022
Series 2003
2.00%-5.00%
1/1/2010
Series 2003B
2.00%-5.25%
l/l/2023
Series 2004
2.00%-5.00%
12/1/2023
Series 2004B
2.00%-5.25%
12/l/2017
Series 2005
3.25%-5.00%
12/l/2025
Series 2006
3.85%-5.00%
12/1/2026
Series 2006B
4.00%-4.25%
12/1/2023
Total general obligation bonds/corporate purpose bonds
Less: Business -type activity bonds
Total governmental activity bonds
Special Service District #5
Series 2002C rfndg 1996 5.00%- 5.80% I/l/2016
Total special service district # 5 bonds
Bonds premium liability
Pension contributions
Compensated absences payable - City
Claims payable
Governmental activity Long-term liabilities $
Balance
March 1,
2006
14,400,000 $
1,350,000
31,895,000
27,800,000
29,500,000
5,500,000
12,665,000
7,745,000
10,990,000
13,225,000
11,585,000
29,220,000
195,875,000
(37,385,000)
158,490,000
3,335,000
3,335,000
4,675,953
13,189,358
8,590,124
4,534,114
192,814,549 $
Issued
or
Adjusted
-5
10,290,000
14,430,000
Retired or
Transferred
to Debt
Service Funds
2,430,000 $
420,000
3,060,000
8,900,000
7,215,000
2,530,000
7,350,000
145,000
800,000
24,720,000
32,850,000
(47,275,000)
(7,835,000)
(22,555,000)
25,015,000
265,000
265,000
195,693
343,952
430,942
-
6,092,944
4,622,635
1,851,161
689,075
(13,984,260) $
30,935,662 $
Balance
February 28, Due Within
2007 One Year
11,970,000 $ 1,330,000
930,000
450,000
28,835,000
2,760,000
18,900,000
18,900,000
29,500,000
29,500,000
5,500,000
5,500,000
5,450,000
715,000
5,215,000
2,610,000
3,640,000
80,000
13,080,000
140,000
11,585,000
1,370,000
28,420,000
825,000
10,290,000
120,000
14,430,000
-
187,745,000 64,300,000
(76,825,000) (46,495,000)
110,920,000 17,805,000
3,070,000
285,000
3,070,000
285,000
4,527,694
-
13,620,300
10,060,433
4,427,486
5,696,200
821,700
147,894,627 $
23,339,186
512
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 9. LONG-TERM DEBT - Continued
A. Changes in Long -Term Debt - Continued
Final
Interest Maturity
Rate Date
Business -type Activities
General obligation bonds/corporate purpose bonds
Sewer
Sherman Garage
Maple Avenue Garage
Parking System
Total general obligation bonds/corporate purpose bonds
Unamortized bond expenses and discount
Water Fund revenue bonds
Series 1999 4.125-4.375% 1/1/2014
Series 2002 2.00-3.75% 1/1/2012
Total Water Fund revenue bonds
Sewer Fund — Illinois Various
Environmental Protection Through
Agency loans 2.535-3.59% 11/26/2021
Compensated absences payable - City
Business -type activity long-term
liabilities
Balance
March 1,
2006
S 20,570,000 S
13,100,000
3,715,000
37,385,000
(28,754)
Retire or
Transferred
Issued to Debt
or Service
Adjusted Funds
- $ 2,050,000 $
47,275,000
5,200,000
- 585,000
47,275,000 7,835,000
- (15,876)
Balance
February 28, Due Within
2007 One Year
18,520,000 $
2,155,000
47,275,000
35,810,000
7,900,000
7,900,000
3,130,000
630,000
76,825,000 46,495,000
(12,878) -
2,105,000
230,000
1,875,000
235,000
1,605,000
240,000
1,365,000
250,000
3,710,000
- 470,000
3,240,000
485,000
101,400,675
4,498,539 6,408,293
99,490,921
6,942,338
575,388
85,686 75,468
585,606
585,606
$ 143,042,309 $
51,859,225 $ 14,772,885 $
180,128,649 $
54,507,944
101110
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 9. LONGTERM DEBT - Continued
B. General Obligation Bonds Payable
The City issued 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. During the current fiscal year, the City paid an additional
$144,468 due to the swap agreement. 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 $15,890,000 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 the 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.
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.
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 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.
-61 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 9. LONG-TERM DEBT - Continued
B. General Obligation Bonds Payable - Continued
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 of $769,505 which translates to a net present value savings of $665,226.
Annual debt service requirements to maturity for general obligation bonds are as follows:
Year Ending
February 28
2008
2009
2010
2011
2012
2013-2017
2018-2022
2023-2027
Total
C. Special Service District Bonds Payable
Governmental Activities
Business -type Activities
Principal
Interest
Principal
Interest
$ 17,805,000 $
5,737,092
$ 46,495,000 $
10,093,925
5,640,000
4,057,778
3,820,000
1,639,135
5,760,000
3,855,034
4,040,000
1,425,178
5,875,000
3,676,446
3,635,000
1,198,375
6,375,000
3,449,493
3,825,000
1,002,911
34,130,000
13,007,030
11,810,000
2,354,586
23,880,000
6,090,299
3,200,000
237,681
11,455,000
1,380,325
-
-
$ 110,920,000 $
41,253,497
$ 76,825,000 $
17,951,791
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.
Annual debt service requirements to maturity for special assessment bonds are as follows:
Year Ending
Governmental Activities
February 28
Principal
Interest
2008
$ 285,000 $
157,313
2009
295,000
143,063
2010
305,000
128,313
2011
325,000
113,063
2012
335,000
96,813
2013-2017
1,525,000
205,013
Total
$ 3,070,000 $
843,578
lsya
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 9. LONG-TERM DEBT - Continued
D. Revenue Bonds Payable
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.
Revenue bond debt service requirements to maturity are as follows:
Year Ending
February 28
2008
2009
2010
2011
2012
2013-2017
Total
E. Notes Payable - Sewer IEPA Loans
Business -type Activities
Principal
Interest
$ 485,000 6
128,713
510,000
110,913
525,000
91,556
550,000
71,269
575,000
49,344
595,000
39,375
$ 3,240,000 $ 491,170
During the fiscal year ended February 28, 2007, the City currently has 25 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.
Notes payable — Sewer IEPA debt service requirements to maturity are as follows:
Year Ending
Business -type
Activities
February 28
Principal
Interest
2008
S 6,942,338 $
2,729,554
2009
7,146,225
2,525,580
2010
7,356,195
2,315,521
2011
7,572,433
2,099,191
2012
7,795,129
1,876,401
2013-2017
35,169,052
6,142,141
2018-2022
21,170,641
2,168,286
2023-2027
6,338,908
346,945
Total
$ 99,490,921 $
20,203,620
-63-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 9. LONG-TERM DEBT - Continued
F. Prior Years' General Obligation Bond Defeasances
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.
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.
The trust account assets and the liabilities for the defeased bonds are not included in the City's financial statements. At February 28,
2007, the following remaining outstanding balances are considered defeased:
Original
Outstanding
GO Series
Amount Defeased
Defeased Amounts
1996
9,765,000
9,765,000
1997
11,085,000
11,085,000
1998
6,350,000
6,350,000
2002C
6,480,000
6,480,000
2003B
7,270,000
7,270,000
The outstanding balances of Series 1997, 1998, 2002C and 2003B,
not defeased at February 28,
2007, are recorded as a liability in the
City's financial statements. Those balances are as follows:
Series
1997
$ 11,970,000
1998
930,000
2002C
5,450,000
2003B
3,640,000
-64-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 9. LONG-TERM DEBT - Continued
G. Prior Years' Special Service District #5 Bond Defeasances
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.
Original Outstanding
Snecial Service District #5 Amount Defeased Defeased Amounts
1995 $ 1,990,000 $ 1,990,000
..f
1,260,000 1,260,000
There are no outstanding balances for Special Service District #5 bonds 1995 and 1996, not defeased at February 28, 2007.
NOTE 10. FUND EQUITY
A. Restrictions of Net Assets - Water Fund
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
improvernent 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.
-65-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 10. FUND EQUITY - Continued
A. Restrictions of Net Assets - Water Fund - Continued
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.
B. Restricted Net Assets - Fiduciary Funds
Fiduciary Funds
Firefighters' Pension Fund Restriction for employee pension benefits $ 43,782,756
Police Pension Fund Restriction for employee pension benefits 61,840,351
Total Fiduciary Funds $ 105,623,107
IFTi
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 10. FUND EQUITY - Continued
C. Reservations of Fund Equity
Reservations are used to segregate portions of fund equity which are either legally restricted for specific purposes
or not "available spendable resources." The following reservations are reported:
City General Fund
Reserved for encumbrances
$ 80,388
Reserved for Arts Council
34,265
Reserved for private elm trees
98,408
Reserved for parkway trees
198,449
Reserved for Butterfield sculpture
31,833
Reserved for scholarship contributions
34,203
Reserved for public library acquisitions
387,150
Reserved for recreation group activities
207,123
Other reserves
255,472
Total General Fund
1,327,291
Special Revenue Funds
Reserved for notes receivable
5,543,739
Debt Service Funds
Reserved for debt service 26,197,533
Total Reserved Fund Equity - Governmental Funds $ 33,068,563
-67-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
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 259.731
Total General Fund 5,426,091
Special Revenue Funds
Specific Capital Projects
Motor Fuel Tax 1,947,208
Library 2,809,966
Total Special Revenue Funds 4,757,174
Capital Projects Funds
Specific capital projects
Capital Improvements 12,062,038
Central Business Tax Increment District 4,351,894
Special Assessment 2,602,715
Washington National Tax Increment District 191,321
Total Capital Projects Funds 19,207,968
Unrestricted Fund Equity - Designated $ 29,391,233
The Township has no designated unrestricted fund equity.
-68-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 11. INDIVIDUAL FUND ACTIVITIES
A. General Obligation Debt Service Fund
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.
B. Water Fund
On January 28, 1997, the City executed a long-term water supply contract with the Village of Skokie, Illinois, to
replace an expiring contract. The contract took effect on March 1, 1997 and continues in effect for a period of
twenty years until February 28, 2017. The contract is renewable at ten-year intervals thereafter. Under the terms
of the contract, Evanston is to supply Skokie sufficient potable Lake Michigan water to satisfy the maximum 24-
hour demand for Lake Michigan water of the Village of Skokie system.
The City also provides potable Lake Michigan water to the Northwest Water Commission (NWWC) under a long-
term water supply contract. Sale of potable water under this contract began on February 28, 1985 and continues
until February 28, 2030. Under the terms of the current contract, Evanston is to supply the NWWC sufficient
potable Lake Michigan water to satisfy the Commission's maximum 24-hour demands for Lake Michigan water
for resale to the Commission's customers.
C. Special Service District No. 4
On August 13, 2007, the City Council adopted Ordinance No. 37-R-07 which extended the life of Special Service
District No. 4 until December 31, 2019. Special Service District No. 4 comprises the central business district of
the City. The special district was established for the purpose of providing funds for special maintenance and
repair and for promotion and advertisement. The Ordinance states that the annual property tax levy for the
District shall be the lesser of an annual rate of .30% of the assessed value as equalized or $255,000. The annual
property tax levy for 2006 was $255,000.
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.
-69-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 12. RISK MANAGEMENT - CLAIMS AND JUDGMENTS
The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors
and omissions; natural disasters; and injuries to the City's employees. The City maintains commercial all-risk
property insurance to cover damage to City facilities and contents and other losses including business interruption
and loss of rents. The coverage is subject to a deductible of $25,000 for each loss and each location. The City also
maintains crime and fidelity insurance coverage with a $10,000 deductible to a limit of $2,000,000. In addition,
coverage is maintained for ambulance/paramedic liability and dental malpractice.
For workers' compensation, specific excess coverage in excess of $350,000 per occurrence is 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
reimbursement basis. The fund accounts for the aforementioned liabilities of the City, but does not constitute a
transfer of risk from the City.
The City records estimated liabilities for workers' compensation and for general claims. Claims liabilities are
based on estimates of the ultimate cost of reported claims including future claim adjustment expenses.
The changes in the balances of claims liabilities during the past two fiscal years are as follows:
Workers'
General
Compensation
Liability
Total
March 1, 2005
$ 2,694,284 $
10,002,500 $
12,696,784
New claims and/or estimate revisions
651,119
89,909
741,028
Claims payments
(404,288)
(8,499,410)
(8,903,698)
February 28, 2006
2,941,115
1,592,999
4,534,114
New claims and/or estimate revisions
362,161
1,489,000
1,851,161
Claims payments
(502,075)
(187,000)
(689,075)
February 28, 2007
$ 2,801,201 $
2,894,999 $
5,696,200
-70-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 13. SUBSEQUENT EVENTS
The City issued Series 2007, $30,385,000 general obligation bonds in May 2007. The distribution of proceeds are
as follows: $15,025,000 to partially finance the City's long-range capital improvement program, and $15,360,000
to advance refund the City's outstanding General Obligation Corporate Purpose bonds, Series 1997 & 1999.
NOTE 14. CONTINGENCIES
There are various claims and legal actions pending against the City for which provision has been made in the
financial statements. At the present time, the City believes that the reserves established are sufficient so that the
expected liability for these claims and legal actions will not materially exceed the amounts recorded in the
financial statements. Amounts received or receivable from grantor agencies are subject to audit and adjustment by
grantor agencies, principally the federal government. Any disallowed claims, including amounts already collected,
may constitute a liability of the applicable funds. The amount, if any, of the expenditures which may be
disallowed by the grantor cannot be determined at this time although the City expects such amounts, if any, to be
immaterial.
NOTE 15. JOINT VENTURES
A. Northwestern University
On January 28, 1985, the City adopted a Central Business Tax Increment City called the Downtown II
Redevelopment Area, which consisted of 26 acres of contiguous land located in the northwestern portion of the
central business City of the City. The City comprised eight blocks of land owned by private parties, Northwestern
University, and the City at the date of adoption. The redevelopment plan was formulated in accordance with the
Tax Increment City laws of the State of Illinois.
In 1986, the City Council adopted a Statement of Understanding between the City and Northwestern University
(Northwestern) concerning the development of approximately 22 acres of the Downtown II City as a joint venture.
By this agreement, the City and Northwestern agreed to develop a Research Park (Park) in the 22-acre area
contiguous to and adjoining a new Basic Industry Research Lab (BIRL) operated by Northwestern.
-71-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 15. JOINT VENTURES — Continued
A. Northwestern University - Continued
The City and Northwestern formed a for -profit corporation known as TOPCORP to buy and hold land for park
development. The City and Northwestern each acquired 50% of the stock and each was entitled to elect and
replace three directors. At the same time, Research Park, Inc. (RPI) was incorporated as a wholly owned
subsidiary of TOPCORP. The mission of RPI was to promote and market the park land to private developers. In
1996, TOPCORP and RPI were merged and the resultant entity renamed Northwestern University/Evanston
Research Park, Inc. All of the existing management and loan agreements were assumed by the new corporation.
As of December 31, 2003, the decision was made to dissolve the organization. The remaining assets of $27,500
are to be divided among the interested parties. The City's Corporation Counsel filed the necessary court
documents to dissolve the organization, and it was completed on June 2006. There was no activity between
December 31, 2002 and December 31, 2006, so there are no financial statements to report.
B. Solid Waste Agency of Northern Cook County
On March 28, 1988, the Evanston City Council authorized agreements providing for the City's participation in the
Solid Waste Agency of Northern Cook County (Agency) and in the interim financing of that Agency. The Agency
was planned and developed by the Northwest Municipal Conference, of which the City is a member. The agency
is empowered to plan, finance, construct, and operate a solid waste disposal system.
The 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 Executive Committee of the Agency consists of seven persons elected by the Board of Directors.
Each person is entitled to one vote. The Executive Committee may take action not specifically reserved to the
Board of Directors by the Act, the Agency agreement, or the bylaws.
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.
-72-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 15. JOINT VENTURES — Continued
B. Solid Waste Agency of Northern Cook County - Continued
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.
Summary of Financial Position as of April 30, 2006:
Current assets $ 6,421,875
Restricted assets 1,096,466
Property, plant, and equipment 13,997,538
Debt issuance costs, net 137.531
Total assets $ 21,653,410
Current liabilities $ 3,934,928
Long-term debt, net of unamortized discount 8,973,921
Invested in capital assets, net of related debt 4,223,617
Restricted for debt service, net of accrued interest 1,047,673
Unrestricted net assets 3,473,271
Total liabilities and fund equity $ 21,653,410
Summary of Revenues and Expenses for the Year Ended April 30, 2006:
Total revenues $ 15,481,207
Total expenses (15,720,257)
Net (loss) $ (239,050)
Complete financial statements for the agency can be obtained at 1616 East Golf Road, Des Plaines, IL 60016.
-73-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 15. JOINT VENTURES — Continued
C. Evanston Housing Corporation
The City agreed to jointly participate with various lending institutions in a not -for -profit housing mortgage
corporation by approval of the City Council on May 22, 1989. The purpose of the corporation is to lend mortgage
funds to qualified, income eligible, first-time homebuyers in the City of Evanston.
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 receivable
and investments, less expenses. Interest is paid semiannually to the holders on a pro-rata basis based on the
amount of each note held to the total outstanding notes.
The audited financial statements of Evanston Housing Corporation for the year ended December 31, 2006 are
summarized as follows:
Statement of Financial Position as of December 31, 2006:
Cash and cash equivalents $ 1,695,090
Mortgage loans receivable 1,446,942
Total assets 3,142,032
Payables and accrued expenses 78,032
Notes payable 3,064,000
Total liabilities 3,142,032
Net Assets $ -
IWAE
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 15. JOINT VENTURES — Continued
C. Evanston Housing Corporation - Continued
Statement of Activities for the Year Ended December 31, 2006:
Total revenues
Total operating expenses
Excess of revenues over expenses
$ 119,821
(119,821)
The City provides the Corporation with office space and staff support on a cost reimbursement basis. Complete
financial statements for the Corporation can be obtained in the City's Community Development Department from
the Assistant Director, Housing Rehabilitation and Property Standards.
NOTE 16. DEFERRED COMPENSATION PLAN
The City of Evanston offers its elected officials and employees a deferred compensation plan created in
accordance with Internal Revenue Code Section 457. The plan is administered by the ICMA Retirement
Corporation. The plan, available to all City employees, permits them to defer a portion of their current salary to
all future years. The deferred compensation is not available to the participants until termination, retirement,
death, or an unforeseeable emergency occurs.
The 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.
Plan balance at February 28, 2007
$ 32.851.402
WRE
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 17. DEFINED BENEFIT PENSION PLANS
The City maintains two separate single -employer retirement plans established by state statute for the City's police
officers and firefighters. The City also participates in the Illinois Municipal Retirement Fund (IMRF), a statewide
multiple -employer public employee retirement system which acts as investment and administrative agent. The
IMRF plan covers substantially all of the City's employees other than police officers and firefighters.
The City 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 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.
Illinois Municipal Retirement Fund
A. Plan Description
The City and Township's defined benefit pension plan, IMRF, provides retirement, disability, annual cost of
living adjustments, and death benefits to plan members and beneficiaries. IMRF is an agent multiple employer
pension plan that acts as a common investment and administrative agent for local governments and school
districts in Illinois. The Illinois Pension Code establishes the benefit provisions of the plan that can only be
amended by the Illinois General Assembly. IMRF issues a publicly available financial report that includes
financial statements and required supplementary information. That report may be obtained by writing to the
Illinois Municipal Retirement Fund, 2211 York Road, Suite 500, Oak Brook, Illinois 60523, or by accessing their
website at www.imrf.org/pubs/pubs_homepage.htm.
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 years 2006 was 8.17% of payroll. The employer contribution requirements are
established and may be amended by the IMRF Board of Trustees.
IDIOM
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 17. DEFINED BENEFIT PENSION PLANS - Continued
Illinois Municipal Retirement Fund - Continued
B. Funding Status and Progress
The City's total payroll for the calendar year ended December 31, 2006 was $54,340,375. Of this amount,
$32,625,369 in payroll earnings were reported to and covered by the IMRF system. The Township's total payroll
for the year ended December 31, 2005 was $314,044. Of this amount, $314,044 in payroll earnings were reported
to and covered by the IMRF plan.
C. Annual Pension Cost
For December 31, 2006, the City's annual pension cost of $2,665,493 was equal to the City's required and actual
contributions. The required contribution was determined as part of the December 31, 2004 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 effects of short-term volatility in the market value
of investments over a five-year period. The assumptions used for the 2006 actuarial valuation were based on the
2002-2004 experience study. IMRF's unfunded actuarial accrued liability is being amortized as a level
percentage of projected payroll on a closed basis. The remaining amortization period at December 31, 2006 was
26 years.
-77-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 17. DEFINED BENEFIT PENSION PLANS — Continued
Illinois Municipal Retirement Fund - Continued
C. Annual Pension Cost - Continued
Three -Year Trend Information for IMRF - City
Actuarial
Valuation Annual Pension
Date Cost (APC)
12/31/06
$ 2,665,493
12/31/05
2,399,228
12/31/04
1,173,858
Percentage
of APC Net Pension
Contributed Obligation
100%
100%
100%
For December 31, 2005, the Township's annual pension cost of $20,476 was equal to the Township's required
and actual contributions. The required contribution was determined as part of the December 31, 2003 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 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 2005 actuarial
valuation were based on the 2002-2004 experience study.
Three -Year Trend Information for IMRF - Township
Actuarial
Valuation
Annual Pension
Date
Cost (APC)
12/31 /05
$ 20,476
12/31 /04
3,877
12/31 /03
3,767
Percentage
of APC Net Pension
Contributed Oblivation
100%
100%
100%
-78-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 17. DEFINED BENEFIT PENSION PLANS — Continued
Police and Firefighters' Pension Plans
D. Plan Descriptions
The Police Pension Plan and Firefighters' Pension Plan are contributory, defined benefit public employee
retirement plans administered by the City and a Board of Trustees for each Fund. All sworn City police officers
and firefighters are participants in the plans. The plans do not issue stand-alone financial reports and they are not
included in the report of a public employee retirement system or another entity. The City's payroll for police and
firefighter employees covered by the plans for the year ended February 28, 2007 was $11,195,000 and
$8,150,000, respectively.
Participation in the plans at February 28, 2007 was:
Police Firefighters'
Retirees, disabled participants, and beneficiaries of
deceased retirees currently receiving benefits 153 118
Active plan members 163 111
Total 316 229
Any police officer or firefighter who has creditable service of 20 years or more, has reached age 50, and is no
longer in the service, is entitled to a yearly pension equal to one-half 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% of such salary for each additional year of service over
20 years, up to 30 years, and 1% of such salary for each additional year of such service over 30 years to a
maximum limit of 75% of such salary. The firefighter pension is increased by 1/12 of 2.5% of such monthly salary
for each additional month over 20 years of service through 30 years of service to a maximum of 75% of such
monthly salary.
Firefighters'
Police
Pension Fund
Pension Fund
Actuarial assumptions:
Investment rate of return
7.50%
7.50%
Projected salary increases
4.50%
4.50%
Attributable to inflation
4.00%
4.00%
Attributable to seniority/merit
0.50%
0.50%
SM
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 17. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans - Continued
D. Plan Descriptions — Continued
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 officer and at the date of retirement or separation in the case of a
firefighter. The amount of the benefit is a tabular percentage of such salary ranging from 15% for 10 years of
service to 50% for 20 years of service. These benefit provisions and all other requirements are established by
state statute.
E. Summary of Significant Accounting Policies
Basis of Accounting
The Police and Firefighters' Pension Fund financial statements are prepared using the accrual basis of accounting.
Plan member contributions are recognized when due 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 finance by investment income.
Method Used to Value Investments
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.
F. Contributions and Reserves
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 eight years of credited service in the case of police officers and 10 years in the case of
firefighters.
-80-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 17. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans — Continued
F. Contributions and Reserves — Continued
For employer contributions, the City's budget policy is to fund pension plans at the funding level recommended
annually by the actuary. The General Fund is used to liquidate the net pension obligation.
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 (March 1, 2006) and are as follows:
Police Firefighters'
Annual required contribution $ 4,301,359 $ 3,921,530
Interest on net pension obligation 619,945 369,257
Adjustment to annual required contribution (532,961) (317,448)
Annual pension cost 4,388,343 3,973,339
Contributions made (4,417,058) (3,513,682)
Increase in net pension obligation (28,715) 459,657
Net pension obligation at March 1, 2005 8,265,927 4,923,431
Net pension obligation at February 28, 2006 $ 8,237,212 $ 5,383,088
The difference between the total amount funded and the amount to be funded, as actuarially determined, is
recorded as the net pension obligation in the general long-term debt schedule. The total pension liability
calculated as the net pension liability dates forward from fiscal year 1987-88.
G. Concentration of Investments
The Police Pension Trust Fund had no significant investments (other than U.S. Government and U.S. Government
guaranteed obligations) in any one organization that represented 5% or more of net assets available for benefits.
The Firefighters' Pension Trust Fund had no significant investments (other than U.S. Government and U.S.
Government -guaranteed obligations) in any one organization that represented 5% or more of net assets available
for benefits.
-81 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 17. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans — Continued
H. Three -Year Trend Information — Pension Trust Funds
Fiscal Annual Pension
Year Ended Cost (APC)
Police 2/28/06 $ 4,388,343
2/28/05 4,157,307
2/29/04 4,361,218
Percentage of Net Pension
APC Contributed Obligation
106.25 % $ 8,237,212
73.87 $ 8,265,927
107.87 7,330,143
Firefighters' 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.
WPM
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 17. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans — Continued
1. Pensions - Detailed Statement of Net Assets
Assets
Cash and short-term investments
Receivables
Accrued interest
Due from other funds
Total Receivables
Investments, at fair value
U.S. Government obligations
Common stock
Mutual funds
Total Investments
Total Assets
Liabilities
Vouchers payable
Total Liabilities
Net assets held in trust for pension benefits
Firefighters'
Pension
Police Total
Pension Pension
$ 3,927,555
$ 3,400,961
$ 7,328,516
171,803
286,565
458,368
1,333.949
1,487,293
2,821,242
1,505,752
1,773,858
3,279,610
19,587,682
30,531,510
50,119,192
11,651,855
-
11,651,855
7,113,295
26,137,101
33,250,396
38,352,832
56,668,611
95,021,443
43,786,139
61,843,430
105,629,569
3,383
3,079
6,462
3,383
3,079
6,462
$ 43,782,756
$ 61,840,351
$ 105,623,107
-83-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 17. 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 $ 3,730,660 $ 4,371,945 $ 8,102,605
Plan members 809,812 1,130,769 1,940,581
Total Contributions 4,540,472 5,502,714 10,043,186
Investment income
Net appreciation in
fair value of investments
1,525,720
2,730,492
4,256,212
Interest
1,566,410
1,746,750
3,313,160
Total investment income
3,092,130
4,477,242
7,569,372
Less investment expense
199,597
115,010
314,607
Net investment income
2,892,533
4,362,232
7,254,765
Total Additions
7,433,005
9,864,946
17,297,951
Deductions
Benefits
4,282,484
6,288,733
10,571,217
Refunds of contributions
-
102,448
102,448
Administrative expense
21,191
34,268
55,459
Total Deductions
4,303,675
6,425,449
10,729,124
Net increase
3,129,330
3,439,497
6,568,827
Net assets held in trust for pension benefits
Beginning of year
40,653,426
58,400,854
99,054,280
End of year
$ 43,782,756
$ 61,840,351
$ 105,623,107
-84-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 17. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans — Continued
K. Pensions - Actuarial Valuations
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:
Firefighters' Police
Pension Pension
Fund Fund
Valuation date March 1, 2006 March 1, 2006
Actuarial cost method Projected Unit Credit Projected Unit Credi
Amortization method
Remaining amortization period
Level Percentage of
payroll, closed period
27 Years
Level Percentage of
payroll, closed perio
27 Years
Asset valuation method Fair Market value Fair Market value
5.161E
This page has been intentionally left blank.
REQUIRED SUPPLEMENTARY INFORMATION
CITY OF EVANSTON, ILLINOIS
Firefighters' Pension Fund, Police Pension Fund, and Illinois Municipal Retirement Fund
Schedules of Funding Progress
Required Supplementary Information
February 28, 2007
Actuarial
Actuarial Accrued
Unfunded
Percentage
Actuarial
Value of
Liability (AAL)
AAL
Funded
Covered
of Covered
Valuation
Assets
Projected Unit Credit
(UAAL)
Ratio
Payroll
Payroll
Date
(a)
(b)
(b-a)
(a/b)
( c)
((b-a)/c)
Firefighters' Pension
3/I/2006
$ 40,653,428
$ 84,413,071
43,759,643
48.16%
$ 8,150,000
536.93%
3/l/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%
3/l/2003
33,905,858
63,214,068
29,308,210
53.64%
7,493,000
391.14%
3/I/2002
34,837,194
58,982,455
24,145,261
59.06%
7,045,000
342.73%
3/1/2001
33,931,179
54,983,667
21,052,488
61.71%
6,468,000
325.49%
3/l/2000
33,150,978
51,480,156
18,329,178
64.40%
6,020,000
304.47%
3/1/1999
30,669,327
48,932,007
18,262,680
62.68%
5,720,000
319.28%
3/1/1998
28,716,954
45,707,591
16,990,637
62.83%
5,530,000
307.24%
3/1/1997
25,390,647
43,210,556
17,819,909
58.76%
5,409,000
329.45%
Police Pension
3/I/2006
$ 58,400,853
S 112,448,880
54,048,027
5194%
S 11,195,000
482.79%
3/I/2005
55,269,914
106,426,694
51,156,780
5193%
10,642,000
480.71%
3/I/2004
54,469,873
101,824,016
47,354,143
53 49%
10,217,000
463.48%
3/1/2003
48,533,981
98,307,729
49,773,748
49.37%
10,074,000
494.08%
3/l/2002
50,171,007
90,436,150
40,265,143
55.48%
9,945,000
404.88%
3/1/2001
49,077,641
85,727,076
36,649,235
57.25%
9,443,000
388.11%
3/l/2000
47,127,865
80,142,075
33,014,210
58.81%
9,005,000
366,62%
3/1/1999
43,874,772
73,577,492
29,702,720
59.63%
8,424,000
352,60%
3/1/1998
40,090,491
69,535,512
29,445,021
57.65%
8,184,000
359.79%
3/1/1997
35,592,043
65,972,531
30,380,488
53.95%
7,625,000
398,43%
Illinois Municipal
Retirement Fund (City)
12/31/2006
$ 87,758,900
$ 82,928,874
(4,830,026)
105.82%
S 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
12/31/2002
76,316,234
64,062,155
(12,254,079)
119.13%
26,693,089
12/31/2001
76,203,038
59,669,590
(16,533,448)
127.71%
25,433,926
12/31/2000
70,365,652
54,227,258
(16,138,394)
129.76%
23,806,923
12/31/1999
61,752,937
49,606,631
(12,146,306)
124.49%
22,472,238
12/31/1998
50,646,948
46,788,407
(3,858,541)
108.25%
21,639,257
12/31/1997
43,588,102
44,482,424
894,322
97.99%
20,561,629
4.35%
Illinois Municipal
Retirement Fund (Township)
12/31/2005
$ 413,112
$ 253,244
(159,868)
163.13%
S 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
12/31/2001
817,333
565,556
(251,777)
144.52%
298,428
12/31/2000
851,413
529,330
(322,083)
160.85%
358,218
12/31/1999
894,898
684,060
(210,838)
130.82%
378,974
12/31/1998
715,669
559,842
(155,827)
127.83%
369,200
12/31/1997
747,332
682,880
(64,452)
109.44%
386,400
12/31/1996
622,085
587,853
(34,232)
105.82%
408,470
86 -
CITY OF EVANSTON, ILLINOIS
Firefighters and Police Pension Funds
Schedules of Employer Contribution
Required Supplementary Information
February 28, 2007
Firefighters' Pension Fund
Annual
Tax Levy
Required
City's
Percentage
Year
Contribution
Contribution
Contributed
2006
$ 3,921,530
$ -
N/A
2005
3,317,158
3,459,626
104.29%
2004
3,041,911
3,398,340
111.72%
2003
2,685,046
2,690,742
100.21%
2002
2,355,236
2,374,744
100.83%
2001
2,209,466
2,324,407
105.20%
-87-
Police Pension Fund
Annual
Required
City's
Percentage
Contribution
Contribution
Contributed
$ 4,301,359
$ -
N/A
4,071,765
4,295,601
105.50%
4,274,043
4,271,102
99.93%
3,505,934
3,522,862
100.48%
3,224,902
3,252,113
100.84%
2,990,038
3,038,432
101.62%
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, 2007
Original and
Final Budget
Actual
Variance
Revenues
Taxes
$ 41,033,700 $
42,276,789 $
1,243,089
Licenses and permits
7,872,400
8,060,996
188,596
Intergovernmental
15,267,300
16,338,153
1,070,853
Charges for services
6,757,800
7,167,364
409,564
Fines
4,592,000
4,029,228
(562,772)
Investment income
400,000
777,165
377,165
Miscellaneous
5,404,100
4,949,769
(454,331)
Total Revenues
81,327,300
83,599,464
2,272,164
Expenditures
General management and support
13,556,400
12,824,237
732,163
Public safety
29,658,200
30,273,200
(615,000)
Public works
12,499,700
12,474,246
25,454
Health and human resource development
5,271,200
5,050,412
220,788
Recreation and cultural opportunities
16,642,600
16,664,959
(22,359)
Housing and economic development
2,957,000
3,093,935
(136,935)
Pensions
5,024,700
5,645,241
(620,541)
Total Expenditures
85,609,800
86,026,230
(416,430)
(Deficiency) of Revenues (under) Expenditures
(4,282,500)
(2,426,766)
1,855,734
Other Financing Sources (Uses)
Operating transfers in (out)
Motor Fuel Tax Fund
772,500
772,500
-
Housing Fund
31,800
31,800
-
Central Business Tax Increment District
325,000
325,000
-
Washington National TIF Debt Service Fund
144,800
144,800
-
Southwest TIF II Debt Service Fund
135,000
135,000
-
Southwest TIF I Debt Service Fund
23,000
23,000
-
Capital Improvement Fund
100,000
100,000
-
Fleet Fund
-
(300,000)
(300,000)
Special Assessment Capital Project Fund
31,800
31,800
-
Water Fund
2,693,600
2,693,600
-
General Obligation Debt Service Fund
(175,000)
(175,000)
-
4,082,500
3,782,500
(300,000)
Excess of Revenues and Other Financing Sources
over Expenditures and Other Financing Uses
$ (200,000)
1,355,734 $
1,555,734
Fund Balance
Beginning of year
End of year
33,979,826
$ 35,335,560
- 88 -
CITY OF EVANSTON, ILLINOIS
Notes to the Required Supplementary Information
NOTE 1. DIGEST OF CHANGES - IMRF
The actuarial assumptions used to determine the actuarial accrued liability for 2006 are based on the 2002-
2004 Experience Study.
The principal changes were:
- The 1994 Group Annuity Mortality implemented
- For regular members, fewer normal and early retirements are expected to occur.
NOTE 2. CONVERSION FROM GAAP BASIS TO BUDGETARY BASIS
Adjustments necessary to convert City revenues and expenditures for the year ended February 28, 2007 on
the GAAP basis to the budgetary basis are presented below:
General
Fund
Revenues
GAAP basis revenues as reported in the
Combined Statement of Revenues,
Expenditures, and Changes in Fund Balances $ 83,587,596
Increase (decrease) due to budgeting
property taxes as revenue in the year of levy 11,868
Budgetary Basis Revenues $ 83,599,464
Expenditures
GAAP basis revenues as reported in the
Combined Statement of Revenues,
Expenditures, and Changes in Fund Balances $ 86,008,485
Increase (decrease) due to
Encumbrances - March 1, 2006 (62,643)
Encumbrances - February 28, 2007 80,388
Budgetary Basis Expenditures $ 86,026,230
-89-
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GOVERNMENTAL FUND TYPES
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.
City Funds
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.
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.
Mayor's Special Housing - to account for costs associated with housing -related programs of the City.
Affordable Housing - to account for costs associated with housing -related programs of the City.
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.
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.
Community Development Loan - to account for residential rehabilitation loans to residents.
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.
Continued
Special Revenue Funds - Continued
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.
Township Funds
Town - to account for general adminstrative services.
General Assistance - to account for the assistance given to persons and/or families to meet their basic living
expenses.
Debt Service Funds
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.
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.
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.
West Evanston Tax Increment District - accumulated monies for the payments on redevelopment project for this
special taxing district.
Continued
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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.
Capital Improvements - to account for the City of Evanston capital improvement program. The program
includes, but is not limited to, improvements to public buildings, the paving of city streets, and the improvement
and development of recreation facilities. Financing is provided principally by grants and general obligation
bond proceeds.
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.
Special Assessment - to account for capital improvements financed by special assessments on property holder
and public benefit contributions from the City.
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Balance Sheet
February 28, 2007
Assets
Cash and equivalents
Investments
Receivables
Property taxes (net of allowance)
Current year levy
Notes
Accounts
Allowance
Special assessments
Accrued interest
Other
Due from other governments
Due from other funds
Total Assets
Liabilities and Fund Balances
Liabilities
Vouchers payable
Accrued payroll
Other
Due to other governments
Due to other funds
Unearned revenues
Total Liabilities
Fund Balances
Reserved for notes receivable
Reseved for debt service
Unreserved
Capital projects
Undesignated
Total Fund Balances
Total Liabilities and Fund Balances
Special Revenue
Emergency
Motor Economic Telephone Neighborhood
Fuel Tax Development System Library Improvement
$ 1,918,731 $ 1,348,105 $ 2,344,787 $ 469,297 $ 82,498
- - - 2,336,748 -
- - 3,921
738 43,254 150,310 - -
188,615 - - -
1,113 10,381 - - -
$ 2,109,197 $ 1,401,740 $ 2,495,097 $ 2,809,966 $ 82,498
$ 161,989 $ 66,804 $ 387,746 $ - $ -
- 3,332 8,017 - -
37,261 1,240 - -
161,989 107,397 397,003 - -
1,947,208 - - 2,809,966
- 1,294,343 2,098,094 -
1,947,208 1,294,343 2,098,094 2,809,966
$ 2,109,197 $ 1,401,740 $ 2,495,097 $ 2,809,966 $
82,498
82,498
82,498
Weliz
Special Revenue
Mayor's Community Community
Special Affordable Development Development
Housing Housing HOME Block Grant Loan
$ 192,536 $ 130,000 $ 346,741 $ - $ 700,787 $
Special
Service Employer Total
District Pension City
No.4 Contribution Funds
$ - $ 7,533,482
2,336,748
- - - - - 248,141 7,068,944 7,317,085
1,369,562 2,690,489 12,799 1,470,889 - - 5,543,739
- - - - - 3,921
8,000 - - - - - 202,302
- - - 70,875 - - 259,490
7,100 5,155 - 23,749
$ 1,570,098 $ 130,000 $ 3,037,230 $ 90,774 $ 2,176,831 $ 248,141 $ 7,068,944 $ 23,220,516
$ 11,667 $ - $ - $ 67,770 $ 6,474 $ - $ - $ 702,450
- - - 4,757 - - 16,106
- 3,141 - - 3,141
289,886 - 651 - - 290,537
7,100 5,448 1,113 19,221 2,815,013 2,886,396
- - - 134,137 4,253,931 4,388,068
11,667 - 296,986 77,975 11,379 153,358 7,068,944 8,286,698
1,369,562 - 2,690,489 12,799 1,470,889 - - 5,543,739
- - - - - - - 4,757,174
188,869 130,000 49,755 - 694,563 94,783 - 4,632,905
1,558,431 130,000 2,740,244 12,799 2,165,452 94,783 - 14,933,818
$ 1,570,098 $ 130,000 $ 3,037,230 $ 90,774 $ 2,176,831 $ 248,141 $ 7,068,944 $ 23,220,516
Continued
I &IIC
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Balance Sheet - Continued
2/28/2007 and 03/31/06 for City and Township respectively
Assets
Cash and equivalents
Investments
Receivables
Property taxes (net of allowance)
Current year levy
Notes
Accounts
Allowance
Special assessments
Accrued interest
Other
Due from other governments
Due from other funds
Total Assets
Liabilities and Fund Balances
Liabilities
Vouchers payable
Accrued payroll
Other
Due to other governments
Due to other funds
Unearned revenues
Total Liabilities
Fund Balances
Reserved for notes receivable
Reseved for debt service
Unreserved
Capital projects
Undesignated
Total Fund Balances
Total Liabilities and Fund Balances
Special Revenue
Total
Town General Township
Fund Assistance Funds Total
S 430,750 $ 671,704 $ 1,102,454 $ 8,635,936
- - - 2,336,748
227,926 599,095
4,912
17,853 -
S 676,529 $ 1,275,711
827,021 8,144,106
- 5,543,739
- 3,921
4,912 207,214
- 259,490
17,853 41,602
$ 1,952,240 $ 25,172,756
S 54,105 $ 38,746 $ 92,851 $ 795,301
- - - 16,106
- - 3,141
127,660 127,660 418,197
- 17,853 17,853 2,904,249
209,947 549,936 759,883 5,147,951
264,052 734,195 998,247 9,284,945
5,543,739
- - 4,757,174
412,477 541,516 953,993 5,586,898
412.477 541,516 953,993 15,887,811
$ 676,529 $ 1,275,711 $ 1,952,240 $ 25,172,756
-92-
Debt Service
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
$ 3,365,491
$ 35,162
$ 5,772,510
$ 649,863
$ 3,024,766
$ 3,640,130
$ 160,030
$ 16,931
$ 16,664,883
-
-
-
-
-
1,000,000
-
-
1,000,000
7,722,007
432,352
6,819,793
588,174
1,016,540
1,749,194
101,738
18,259
18,448,057
20,984
-
-
-
-
11,370
-
32,354
-
-
-
-
-
19,221
-
-
19,221
$ 11,108,482
$ 467,514
$ 12,592,303
$ 1,238,037
$ 4,041,306
$ 6,419,915
$ 261,768
$ 35,190
$ 36,164,515
$ 1,931 $
-
$ 1,093
$
$ -
$ 15,052 $
- $
-
$ 18,076
-
-
170
-
-
-
10,381
10,551
4,602,044
230,656
3,293,818
314,747
503,534
929,236
52,992
11,328
9,938,355
4,603,975
230,656
3,295,081
314,747
503,534
944,288
52,992
21,709
9,966,982
6,504,507
236,858
9,297,222
923,290
3,537,772
5,475,627
208,776
13,481
26,197,533
6,504,507
236,858
9,297,222
923,290
3,537,772
5,475,627
208,776
13,481
26,197,533
$ 11,108,482 $
467,514
$ 12,592,303
$ 1,238,037
$ 4,041,306
$ 6,419,915 $
261,768 $
35,190
$ 36,164,515
Continued
-93-
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CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Balance Sheet - Continued
February 28, 2007
Assets
Cash and equivalents
Investments
Receivables
Property taxes (net of allowance)
Current year levy
Notes
Accounts
Allowance
Special assessments
Accrued interest
Other
Due from other governments
Due from other funds
Total Assets
Central
Business
Tax
Capital Increment
Improvements District
Capital Projects
Washington
National
Tax
Increment Special
District Assessment
Total
$ 9,709,000 $ 4,302,980 $ 198,542 $ 2,599,278 $ 16,809,800
2,996,186 - - - 2,996,186
96,649 - - 96,649
(96,649) - - (96,649)
• - 906,547 906,547
44,561 48,914 - - 93,475
141,800 - - - 141,800
35,202 - - 3,517 38,719
$ 12,926,749 $ 4,351,894 $ 198,542 $ 3,509,342 $ 20,986,527
Liabilities and Fund Balances
Liabilities
Vouchers payable
$ 664,162 $ - $
6,771
$
$ 670,933
Accrued payroll
- -
-
-
-
Other
-
-
-
Due to other governments
-
-
-
-
Due to other funds
200,549 -
450
80
201,079
Unearned revenues
- -
-
906,547
906,547
Total Liabilities
864,711 -
7,221
906,627
1,778,559
Fund Balances
Reserved for notes receivable
- -
-
-
-
Reseved for debt service
- -
-
-
-
Unreserved
Capital projects
12,062,038 4,351,894
191,321
2,602,715
19,207,968
Undesignated
- -
-
-
Total Fund Balances
12,062,038 4,351,894
191,321
2,602,715
19,207,968
Total Liabilities and Fund Balances
$ 12,926,749 $ 4,351,894 $
198,542
$ 3,509,342
$ 20,986,527
Total
Nonmajor
Governmental
Funds
$ 42,110,619
6,332,934
26,592,163
5,640,388
(96,649)
906,547
129,750
349,014
259,490
99,542
$ 82,323,798
$ 1,484,310
16,106
3,141
418,197
3,115,879
15,992,853
21,030,486
5,543,739
26,197,533
23,965,142
5,586,898
61,293,312
$ 82,323,798
Concluded
- 94 -
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances
Year ended February 28, 2007
Special Revenue
Emergency
Motor
Economic
Telephone
Neighborhood
Fuel Tax
Development
System
Library
Improvement
Revenues
Taxes
S -
$ 1,826,670
$ 1,052,991 $
-
S 40,000
Special assessments
Intergovernmental
2,139,089
-
-
Investment income
119,906
19,166
29,433
312,381
SSI reimbursement
-
-
-
Emergency assistance reimbursement
-
-
Miscellaneous
-
-
9,135
7,608
Total Revenues
2,258,995
1,845,836
1,091,559
319,989
40,000
Expenditures
Current
General management and support
-
-
-
-
-
Public safety
-
1,314,307
Public works
1,845,900
Health and human resource development
-
-
Recreation and cultural opportunities
-
1,000
Housing and economic development
1,021,385
Debt service
Principal
-
Interest
Fiscal agent fees
Capital outlay
-
-
-
Total Expenditures
1,845,900
1,021,385
1,314,307
1,000
-
Excess (Deficiency) of Revenues
Over (Under) Expenditures
413.095
824,451
(222.748)
318989
40,000
Other Financing Sources (Uses)
Proceeds from sale of bonds
-
-
-
-
Escrow funding
Premiums and discount
-
Transfers in (out)
General Fund
(772,500)
Community Development Block Grant
-
Community Development Loan
Town Fund
General Assistance Fund
General Obligation Debt Service Fund
Central Business Tax Increment District
Washington National Tax Increment District
Special Assesstment Capital Project
Water
Maple Avenue Garage
(650,000)
Sherman Garage
Total Other Financing Sources (Uses)
(772,500)
(650,000)
-
-
Net Change in Fund Balances
(359,405)
174,451
(222,748)
318,989
40,000
Fund Balances -Beginning of Year
2,306,613
1,119,892
2,320,842
2,490,977
42,498
Fund Balances - End of Year
S 1,947,208
$ 1,294,343
$ 2,098,094 $
2,809,966
$ 82,498
95 -
Mayor's
Special
Affordable
Housing
Housing
$
$ 90,000 $
12,944
-
75,664
40,000
88,608
130,000
Special Revenue
Special
Community
Community
Service
Employer
Total
Development
Development
District
Pension
City
HOME
Block Grant
Loan
No. 4
Contribution
Funds
$
$
$ 253,732
$ 8,102,605
$ 11,365,998
28,739
2,677,217
-
-
4,845,045
16,978
-
11,309
190
522,307
92
10,691
-
-
143,190
45,809
2,687,908
11,309
253,922
8,102,605
16,876,540
8,102,605
9,416,912
-
-
1,845,900
-
- -
-
-
1,000
44,738
556,701
2,692,229
29,768
245,000
4,589,821
44,738
- 556,701
2,692,229
29,768
245,000 8,102,605
15,853,633
43,870
130,000 (510,892)
(4,321)
(18.459)
8.922 -
1,022,907
(31,800)
-
-
(804,300)
-
(4,321)
(4,321)
4,321
4,321
(650,000)
(31,800)
- -
4,321
(4,321)
-
(1,454,300)
12,070
130,000 (510,892)
-
(22,780)
8,922
(431,393)
1,546,361
- 3.251.136
12.799
2.188.232
85.861
15,365,211
1,558,431 $
130,000 $ 2,740,244 $
12,799 $
2,165,452 $
94,783 $
$ 14,933,818
Continued
-96-
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances - Continued
Year Ended February 28, 2007 and March 31, 2006 for City and Township respectively
Special Revenue
Total
Town
General
Township
Fund
Assistance
Funds
Total
Revenues
Taxes
$ 316,625
$ 884,492
$ 1,201,117
$ 12,567,115
Special assessments
-
-
Intergovernmental
54,833
-
54,833
4,899,878
Investment income
7,538
9,619
17,157
539,464
SSI reimbursement
-
3,047
3,047
3,047
Emergency assistance reimbursement
46,084
46,084
46,084
Miscellaneous
-
-
143,190
Total Revenues
378,996
943,242
1,322,238
18,198,778
Expenditures
Current
General management and support
213,471
890,170
1,103,641
1,103,641
Public safety
9,416,912
Public works
1,845,900
Health and human resource development
-
Recreation and cultural opportunities
1,000
Housing and economic development
4,589,821
Debt service
Principal
Interest
Fiscal agent fees
Capital outlay
-
-
-
-
Total Expenditures
213,471
890,170
1,103,641
16,957,274
Excess (Deficiency) of Revenues
Over (Under) Expenditures
165,525
53,072
218,597
1,241,504
Other Financing Sources (Uses)
Proceeds from sale of bonds
-
Escrow funding
Premiums and discount
Transfers in (out)
General Fund
(804,300)
Community Development Block Grant
(4,321)
Community Development Loan
-
4,321
Town Fund
125,000
125,000
125,000
General Assistance Fund
(125,000)
(125,000)
(125,000)
General Obligation Debt Service Fund
Central Business Tax Increment District
Washington National Tax Increment District
-
Special Assesstment Capital Project
-
Water
-
Maple Avenue Garage
-
(650,000)
Sherman Garage
Total Other Financing Sources (Uses)
(125,000)
125,000
-
(1,454,300)
Net Change in Fund Balances
40,525
178,072
218,597
(212,796)
Fund Balances -Beginning of Year
371,952
361444
735,396
16,100,607
Fund Balances - End of Year
$ 412,477
$ 541,516
$ 953,993
$ 15,887,811
-97-
Debt Service
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
$ 8,950,580 $
444,641
$ 8,875,934
$ 652,133
$ 1,286,615
$ 1,930,695
$ 132,830
$ 30,983
$ 22,304,411
312,256
343
449,651
37,157
153,729
248,671
1,916
19
1,203,742
9,262,836
444,984
9,325,585
689,290
1,440,344
2,179,366
134,746
31,002
23,508,153
219
3,209
105,201
7,581
7,581
4,407
10,204
17,521
155,923
200,000
600,000
-
800,000
5,795,000
265,000
3,815,000
250,000
425,000
980,000
11,530,000
4,003,572
170,563
358,544
42,750
268,620
2,082,489
-
6,926,538
205,970
-
230,509
-
-
80,382
516,861
10,004,761
438,772
4,709,254
900,331
701,201
3,147,278
10,204
17,521
19,929,322
(741.925)
6.212
4,616.331
(211,041)
739.143
(967.912)
124.542
13.481
3,578,831
14,430,000
-
-
-
14,430,000
(14,367,683)
(14,367,683)
120,311
120,311
175,000
(325,000)
(23,000)
(135,000)
(144,800)
(452,800)
845,315
845,315
(845,315)
-
(845,315)
337,500
337,500
(4,502,000)
(4,502,000)
(727,500)
(727,500)
695,128
-
(5,672,315)
(23,000)
(135,000)
(26,985)
-
-
(5,162,172)
(46,797)
6,212
(1,055,984)
(234,041)
604,143
(994,897)
124,542
13,481
(1,583,341)
6,551,304
230,646
10,353,206
1,157,331
2,933,629
6,470,524
84,234
-
27,780,874
$ 6,504,507 $
236,858
$ 9,297,222
$ 923,290
$ 3,537,772
$ 5,475,627
$ 208,776
$ 13,481
$ 26,197,533
Continued
98 -
This page has been intentionally left blank.
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances - Continued
Year ended February 28, 2007
Revenues
Taxes
Special assessments
Intergovernmental
Investment income
SSI reimbursement
Emergency assistance reimbursement
Miscellaneous
Total Revenues
Expenditures
Current
General management and support
Public safety
Public works
Health and human resource development
Recreation and cultural opportunities
Housing and economic development
Debt service
Principal
Interest
Fiscal agent fees
Capital outlay
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses)
Proceeds from sale of bonds
Escrow funding
Premiums and discount
Transfers in (out)
General Fund
Community Development Block Grant
Community Development Loan
Town Fund
General Assistance Fund
General Obligation Debt Service Fund
Central Business Tax Increment District
Washington National Tax Increment District
Special Assessment Capital Project
Water
Maple Avenue Garage
Sherman Garage
Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances -Beginning of Year
Fund Balances - End of Year
Central
Business
Tax
Capital Increment
Improvements District
Capital Projects
Washington
National
Tax
Increment Special
District Assessment
Total
Nonmajor
Governmental
Total Funds
$ - $
- $ - $ -
$ -
S 34,871,526
565,204
565,204
565,204
163,957
- -
163,957
5,063,835
778,274
200,301 91,339 104,749
1,174,663
2,917,869
-
- -
-
3,047
-
-
46,084
435,478
- 1
435,479
578,669
1,377,709
200,301 91,339 669,954
2,339,303
44,046,234
57,784
66,000 314,013 12,487
450,284
1,709,848
-
- - -
-
9,416,912
-
1,845,900
800,000
1,000
4,589,821
11,530,000
6,926,538
- 516,861
10.770.373 8.215.772 18,986,145 18,986,145
10,828,157 66,000 8,529,785 12A87 19,436,429 56,323,025
(9,450,448)
134,301
(8,438,446)
657,467
(17,097,126)
(12,276,791)
9,785,000
-
505,000
10,290,000
24,720,000
-
-
-
(14,367,683)
75,719
(337)
75,382
195,693
(100,000)
(31,800)
(131,800)
(1,388,900)
(4,321)
4,321
125,000
(125,000)
(337,500)
(337,500)
(337,500)
845,315
(845,315)
337,500
(2,000,000)
(2,000,000)
(2,000,000)
-
(5,152,000)
1,486,672
-
1,486,672
759,172
7,760,719
-
1,486,672
135,363
9,382,754
2,766,282
(1,689,729)
134.301
(6,951,774)
792,830
(7,714,372)
(9,510,509)
13,751,767
4,217,593
7,143,095
1.809,885
26,922,340
70,803,821
$ 12,062,038
$ 4,351,894
$ 191321 $
2,602,715
$ 19,207,968
$ 61,293,312
Concluded
-99-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis)
Year ended February 28, 2007
Taxes
Property
Current year levy
Prior year levy
Total Property Taxes
Personal Property Replacement Tax
Other Taxes
Auto rental
Sales - home rule
Utility
State use
Athletic contest
Cigarette
Evanston motor fuel
Real estate transfer
Poured liquor
Parking
Total Other Taxes
Total Taxes
Original
and Final
Budget Actual
$ 17,091,000 $ 16,986,796
25,000 307,366
17,116,000 17,294,162
578,500 1,039,009
34,000
34,806
5,500,000
5,651,328
8,550,000
8,108,008
750,000
953,273
500,000
578,871
550,000
455,873
300,000
266,997
4,055,200
4,500,474
1,600,000
1,941,652
1,500,000
1,452,336
23,339,200 23,943,618
41,033,700 42,276,789
Variance
(104,204)
282,366
178,162
460,509
806
151,328
(441,992)
203,273
78,871
(94,127)
(33,003)
445,274
341,652
(47,664)
604,418
1,243,089
Continued
-100-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Year ended February 28, 2007
Original
and Final
Budget
Licenses and Permits
Vehicle licenses
$ 2,200,000
Business licenses
90,000
Long-term care licenses
113,000
Rooming house licenses
160,000
Pet licenses
40,000
Farmers' market licenses
27,700
Contractors' licenses
80,000
Other licenses
-
Building permits
3,065,000
Plumbing permits
160,000
Electrical permits
175,000
Elevator permits
40,000
Signs and awning permits
10,000
Combustion equipment permits
180,000
Commercial driveway permits
700
Other permits
300,000
Liquor licenses
290,000
Fire alarm permit fees
-
Cable franchise fee
660,000
Nicor franchise fee
60,000
Northwestern/Centel easement
40,000
Residents' parking permits
120,000
Visitor's parking permits
14,000
Sign license fee
32,000
Alarm panel franchise fee
14,000
Plat approval and sign appeal fees
1,000
Total Licenses and Permits 7,872,400
Actual
2,209,464
105,868
69,540
180,908
36,473
24,365
88,000
960
3,062,633
163,507
181,209
45,841
12,694
204,772
315,401
324,803
90
735,090
85,935
47,000
116,288
13,871
32,684
3,600
8,060,996
11
Variance
9,464
15,868
(43,460)
20,908
(3,527)
(3,335)
8,000
960
(2,367)
3,507
6,209
5,841
2,694
24,772
(700)
15,401
34,803
90
75,090
25,935
7,000
(3,712)
(129)
684
(10,400)
(1,000)
188,596
Continued
- 101 -
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Year ended February 28, 2007
Original
and Final
Budget
Actual
Variance
Intergovernmental - Revenue from
Other Agencies
Health Department SEED Grant
S -
S 147,398
S 147,398
Preventive health block grant
30,600
28,000
(2,600)
fire department training
600
6,434
5,834
Illinois department health information
-
25
25
Illinois state health department
basic services grant
63,300
76,181
12,881
Bio-terrorrism grant
76,000
-
(76,000)
Family planning grant
54,500
50,000
(4,500)
Hearing and vision grant
8,000
8,000
-
Clean air grants
-
20,117
20,117
ICJIA grant - victim
60,000
-
(60,000)
Other federal aid
14,700
55,901
41,201
Violent crime victim assistance grant
24,700
27,458
2,758
Federal police grant
56,000
-
(56,000)
Civil defense grants
20,000
26,391
6,391
Retailer and service occupation tax
8,200,000
8,695,104
495,104
State income tax
5,500,000
6,186,428
686,428
State highway maintenance
130,000
93,003
(36,997)
District 65 dental
1,500
1,500
-
Commission on Aging grant
41,600
46,592
4,992
Other state / county grants
300,000
105,266
(194,734)
Police training grant
8,000
31,289
23,289
Dental sealants grant
2,800
4,183
1,383
Lead grant
2,000
1,373
(627)
Federal grant / Aid
-
144,025
144,025
Illinois Tobacco Free Community
25,000
28,188
3,188
Art council
-
35,030
35,030
Summer food inspections
-
800
800
Kid care agreement
11,300
5,599
(5,701)
HUD emergency shelter grant
87,000
89,222
2,222
Leadbase paint control grant
200,000
77,624
(122,376)
Genetic education grant
10,200
17,000
6,800
Tanning parlor inspection
-
350
350
Prostate cancer awareness
-
12,039
12,039
Family case management grant
190,600
281,013
90,413
Immunization Innitiation
2,900
-
(2,900)
Reach learn grow
111,000
-
(111,000)
Teen parent service program
35,000
33,450
(1,550)
Vector prevention grant
-
3,000
3,000
Evanston Township - Housing
-
170
170
Total Intergovernmental - Revenue
from Other Agencies
15,267,300
16,338,153
1,070,853
Continued
-102-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Year ended February 28, 2007
Charges for Services
Recreation
Recreation - program
Total Recreation
Library
Film rentals
Books, lost and paid
Reserves
Miscellaneous revenues
Non-resident cards
Copy machine charges
Library meeting room rentals
Rental income
State library per capita grant
CD-ROM software rentals
Total Library
Original
and Final
Budget
Actual
Variance
S 4,244,200
S 4,352,943
S 108,743
4,244,200
4,352,943
108,743
58,000
37,119
(20,881)
23,000
14,076
(8,924)
6,500
7,196
696
2,500
736
(1,764)
4,000
2,890
(1,110)
26,000
22,646
(3,354)
9,000
7,195
(1,805)
-
29,700
29,700
92,700
91,128
(1,572)
2,000
591
(1,409)
223,700
213,277
(10,423)
Continued
-103-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Year ended February 28, 2007
Original
and Final
Budget
Actual
Charges for Services
Other Service Charges
Family planning clinic
S -
1,240
Dental clinic fees and check up fees
68,000
96,219
Venereal disease program - Skokie
2,250
750
Birth and death records
132,000
132,472
TB nursing services
12,000
7,600
Flu and pneumonia program
23,500
21,371
Health clinic fees - immunizations
4,200
6,799
Health clinic fees - sexually transmitted disease
8,000
-
Health clinic fees - TB
3,500
3,168
Health clinic fees - lab
12,000
9,020
Health clinic fees - food establishment
150,000
162,608
Health clinic fees - school physicals
2,000
1,305
S.T.D.O. and S.T.D.E.
6,000
8,157
Dental check up
9,000
8,390
Emergency dental exam
100
210
X-Ray
-
80
Amalgam filling
400
10
Resin filling
4,500
5,614
Sedative filling
50
50
Extraction
100
570
Pulpotomy
800
1,495
Sealant office visit
700
586
Additional sealant
100
80
Temporary license fee
3,300
4,096
Food delivery vehicle
6,500
6,196
Scavenger truck
2,300
2,340
Beverage snack vending machine
22,000
25,236
Tobacco license
13,000
11,125
Funeral director license
-
6,660
Temporary funeral direct license
-
5,714
Ambulance services
570,000
721,004
Towing charges
-
(12,948)
Weights and measures examination
1,000
350
Senior taxi coupon sales
88,000
101,733
Recycling - material sales
-
970
Background check daycare providers
-
480
Police report fees
15,000
17,487
Child health
1,700
-
Beekeeper licenses
-
25
S
Variance
1,240
28,219
(1,500)
472
(4,400)
(2,129)
2,599
(8,000)
(332)
(2,980)
12,608
(695)
2,157
(610)
110
80
(390)
1,114
470
695
(114)
(20)
796
(304)
40
3,236
(1,875)
6,660
5,714
151,004
(12,948)
(650)
13,733
970
480
2,487
(1,700)
25
Continued
-104-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Year ended February 28, 2007
Original
and Final
Budget
Charges for Services - Continued
Other Service Charges - Continued
Fire report fees
S 900
Fire cost recovery charges
5,000
Fire building inspection
8,000
Other service charges
-
Condo conversion application
70,000
Zoning fees
40,000
Alarm panel subscription fees
100,000
Skokie animal boarding fees
1,000
Passport execution fees
10,000
Sanitation classes and charges
55,000
Wood recycling
-
Plan review
10,000
Recycling service charge and penalty
828,000
Total Other Service Charges
2,289,900
Total Charges for Services 6,757,800
Fines
Ticket fines
3,790,000
Regular fines
250,000
Housing code violations
-
Permit penalty fees
25,000
False alarm panel fines - fire
55,000
False alarm panel fines - police
90,000
Administrative adjudication
95,000
Library fines
172,000
Boot release fees
115,000
Total Fines 4,592,000
S
Actual
1,316
9,351
4,875
2,252
48,450
58,284
158,547
102
10,337
71,512
10,881
9,358
857,617
2,601,144
7,167,364
3,174,170
206,088
2,702
42,210
88,805
69,615
185,176
182,477
77,985
4,029,228
E
Variance
416
4,351
(3,125)
2,252
(21,550)
18,284
58,547
(898)
337
16,512
10,881
(642)
29,617
311,244
409,564
(615,830)
(43,912)
2,702
17,210
33,805
(20,385)
90,176
10,477
(37,015)
(562,772)
Continued
- 105 -
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Year ended February 28, 2007
Original
and Final
Budget
Actual
Variance
Investment Income
$ 400,000
$ 777,165
$ 377,165
Miscellaneous
Charges to Other Funds
Charges to Water for
administrative expenses
1,202,400
1,202,400
-
Economic Development
400,000
400,000
-
Maple Garage
43,000
43,000
-
Emergency Telephone System
179,000
179,000
-
Community Development Block Grant
909,500
880,500
(29,000)
HOME
39,300
41,772
2,472
Sewer
543,600
543,600
-
Motor Vehicle Parking System
711,500
711,500
-
Fleet Services
171,500
171.500
-
Total Charges to Other Funds
4,199,800
4,173,272
(26,528)
Miscellaneous
Other Revenues
Payments in lieu of taxes
27,000
25,000
(2,000)
Sales and rentals of property
102,900
62,901
(39,999)
Compensation for damage to
City property
65,000
43,685
(21,315)
Parking permits - Ryan Field
12,000
17,141
5,141
Miscellaneous
997,400
627,770
(369,630)
Total Other Revenues
1,204,300
776,497
(427,803)
Total Miscellaneous
5,404,100
4,949,769
(454,331)
Total Revenues
$ 81,327,300
$ 83,599,464
$ 2,272,164
Concluded
MGM
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Expenditures - Budget and Actual (Budgetary Basis)
Year ended February 28, 2007
General Management and Support
City Council
City Manager
City Clerk
Law Department
Human Resources
Finance
Facilities management
Miscellaneous operating requirements
Total General Management and Support
Public Safety
Emergency services and disaster assistance
Police
Fire
Total Public Safety
Public Works
Municipal service center
Public Works Director
City Engineer
Traffic Engineer
Streets
Sanitation
Total Public Works
Original
Final
Budget
Budget
Actual
$ 356,600
$ 356,600
$ 390,415
4,228,000
4,284,901
3,803,855
212,400
212,400
229,395
714,600
714,600
674,366
1,361,900
1,361,900
1,405,586
1,768,500
1,718,500
1,896,025
2,421,400
2,421,400
2,340,792
2,493,000
2,486,099
2,083,803
13,556,400 13,556,400 12,824,237
97,900 97,900 40,469
18,466,000 18,466,000 18,973,081
11,094,300 11,094,300 11,259,650
29,658,200 29,658,200 30,273,200
Variance
(33,815)
481,046
(16,995)
40,234
(43,686)
(177,525)
80,608
402,296
732,163
57,431
(507,081)
(165,350)
(615,000)
290,500
290,500
341,696
(51,196)
238,800
238,800
230,849
7,951
1,220,000
1,220,000
1,260,634
(40,634)
2,625,200
2,625,200
2,479,103
146,097
3,633,300
3,633,300
3,606,081
27,219
4,491,900
4,491,900
4,555,883
(63,983)
12,499,700
12,499,700
12,474,246
25,454
Continued
-107-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Expenditures - Budget and Actual (Budgetary Basis) - Continued
Year ended February 28, 2007
Health and Human Resource Development
Health and Human Services Director
Health Department
Emergency assistance services
Mental health and community purchased services
Commission on Aging
Subsidized Taxicab Program
Human Relations
Total Health and Human Resource Development
Recreation and Cultural Opportunities
Library
Recreation
Parks and forestry
Ecology Center
Arts Council
Total Recreation and Cultural Opportunities
Housing and Economic Development
Community Development administration
Planning and zoning
Housing rehabilitation and
property standards
Building code compliance
Total Housing and Economic Development
Pensions
Illinois Municipal Retirement Pension
Total Expenditures
Original
Final
Budget
Budget
Actual
Variance
$ 291,600
$ 291,600
$ 286,713
$ 4,887
2,591,200
2,591,200
2,434,249
156,951
380,600
380,600
295,480
85,120
1,036,300
1,036,300
1,025,585
10,715
127,500
127,500
134,270
(6,770)
252,400
252,400
261,558
(9,158)
591,600
591,600
612,557
(20,957)
5,271,200
5,271,200
5,050,412
220,788
4,411,800
4,411,800
4,450,346
(38,546)
7,145,300
7,145,300
7,281,003
(135,703)
3,697,000
3,697,000
3,646,448
50,552
455,900
455,900
456,566
(666)
932,600
932,600
830,596
102,004
16,642,600
16,642,600
16,664,959
(22,359)
216,600
216,600
233,022
(16,422)
814,700
814,700
882,373
(67,673)
806,200
806,200
772,635
33,565
1,119,500
1,119,500
1,205,905
(86,405)
2,957,000
2,957,000
3,093,935
(136,935)
5,024,700 5,024,700 5,645,241 (620,541)
$ 85,609,800 $ 85,609,800 $ 86,026,230 $ (416,430)
Concluded
- 108 -
CITY OF EVANSTON, ILLINOIS
Motor Fuel Tax Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Year ended February 28, 2007
Revenues
Intergovernmental allotments
Interest
Total Revenues
Expenditures
Public Works
Excess (Deficiency) of Revenues
over (under) Expenditures
Other Financing (Uses)
Operating transfers (out)
General Fund
Deficiency of Revenues under
Expenditures and Other Financing Uses
Fund Balances
Beginning of year
End of year
Original
and Final
Budget
$ 2,100,000
55,000
2,155,000
1,500,000
655,000
(772,500)
$ (117,500)
Actual
Variance
$ 2,139,089
$ 39,089
119,906
64,906
2,258,995
103,995
1,845,900
(345,900)
413,095
(241,905)
(772,500) -
(359,405) $ 241,905
2,306,613
$ 1,947,208
Bill'Z
CITY OF EVANSTON, ILLINOIS
Economic Development Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Year ended February 28, 2007
Revenues
Hotel taxes
Amusement taxes
Interest
Total Revenue
Expenditures
Housing and economic development
Excess of Revenues
over Expenditures
Other Financing Sources (Uses)
Operating transfers in (out)
Maple Avenue Garage Fund
Deficiency of Revenues under
Expenditures and Other Financing Uses
Fund Balances
Beginning of year
End of year
Original
and Final
Budget
Actual
Variance
$ 816,000
$ 1,535,145
$ 719,145
300,000
291,525
(8,475)
-
19,166
19,166
1,116,000
1,845,836
729,836
848,900
1,021,385
(172,485)
267,100
824,451
557,351
(650,000) (650,000) -
$ (382,900) 174,451 $ (557,351)
1,119,892
$ 1,294,343
- 110 -
CITY OF EVANSTON, ILLINOIS
Emergency Telephone System Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Year ended February 28, 2007
Revenues
Enhanced 911 surcharge
Interest
Miscellaneous
Total Revenue
Expenditures
Public Safety
Deficiency of Revenues
under Expenditures
Fund Balance
Beginning of year
End of year
Original
and Final
Budget
$ 1,129,780
25,000
1,154,780
1,736,700
$ (581,920)
Actual
Variance
$ 1,052,991
$ (76,789)
29,433
4,433
9,135
9,135
1,091,559
(63,221)
1,314,307
422,393
(222,748) $ (359,172)
2,320,842
$ 2,098,094
CITY OF EVANSTON, ILLINOIS
Mayor's Special Housing Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Year ended February 28, 2007
Revenues
Interest
Miscellaneous
Total Revenue
Expenditures
Housing and economic development
Excess (Deficiency) of Revenues
over (under) Expenditures
Other Financing (Uses)
Transfers (out)
General Fund
Excess (Deficiency) of Revenues over (under)
Expenditures and Other Financing Uses
Fund Balance
Beginning of year
End of year
Original
and Final
Budget
$ 10,000
140,000
150,000
190,000
(40,000)
(31,800)
$ (71,800)
Actual
Variance
$ 12,944
$ 2,944
75,664
(64,336)
88,608
(61,392)
44,738
145,262
43,870
83,870
(31,800) -
12,070 $ 83,870
1,546,361
$ 1,558,431
- 112 -
CITY OF EVANSTON, ILLINOIS
Community Development Block Grant Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Year ended February 28, 2007
Revenues
Intergovernmental allotments
Grant from the U.S. Department of
Housing and Urban Development
Miscellaneous
Total Revenues
Expenditures
Housing and economic development
Excess (Deficiency) of Revenues
over (under) Expenditures
Other Financing (Uses)
Transfers
Community Development Loan
Excess (Deficiency) of Revenues over (under)
Expenditures and Other Financing Uses
Fund Balance
Beginning of year
End of year
Original
and Final
Budget Actual Variance
$ 2,256,640 $ 2,677,217 $ 420,577
- 10,691 10,691
2,256,640 2,687,908 431,268
2,052,319 2,692,229 (639,910)
204,321 (4,321) (208,642)
- 4,321 4,321
$ 204,321 - $ (204,321)
12,799
$ 12,799
CITY OF EVANSTON, ILLINOIS
Community Development Block Grant Fund
Schedule of Expenditures - Budget and Actual (Budgetary Basis)
Year ended February 28, 2007
Ad in istration/P lanning
CDBG Administration
Fair Housing Assistance
Total Administration/Planning
Economic Development
Evanston Community Development Corp.
Neighborhood Fagade Program
MBE/Small Business Assistance
Total Economic Development
Housing
Housing Rehabilitation Administration
Adaptive Devices
Community Development Administration
Minor Repairs/Painting Assistance - E.N.A.W.
Smoke Detectors for Seniors
Demolition/Vacant Lot Cleanup Program
Housing Code Compliance
Total Housing
Original
and Final
Budget
Actual
Variance
S 305,547
S 288,635
S 16,912
75,773
75,768
5
381,320
364,403
16,917
30,645
30,645
-
20,000
-
20,000
61,814
61,791
23
112,459
92,436
20,023
230,000
224,124
5,876
5,000
9,292
(4,292)
95,000
94,980
20
148,000
119,708
28,292
5,000
4,815
185
-
16,498
(16,498)
230,000
229,992
8
713,000
699,409
13,591
Continued
- 114 -
CITY OF EVANSTON, ILLINOIS
Community Development Block Grant Fund
Schedule of Expenditures - Budget and Actual (Budgetary Basis) - Continued
Year ended February 28, 2007
Neighborhood Revitalization
Fleetwood Jourdain-Locker Rooms
Accessible Curb Ramp Program
Curb/Sidewalk Replacement
Fleetwood Jourdain-Roof Replacement
South Evanston Neighborhood Security
Black American Heritage and Tech Center
Alley Paving Program
Mason Park
Community Development -Neighborhood Improvement
Handyman Assistance
McCaw YMCA Elevator Project
Fifth Ward My Yard My Block
Smith Park
Special Assesstments / Alley Paving
Reba Park
Fleetwood Jourdain-Community Center
Evanston Day Nursery
Family Focus Center Improvements
Graffiti Removal Program
Total Neighborhood Revitalization
S
Original
and Final
Budget
50,000
75,000
50,000
150,000
12,000
5,000
100,000
25,000
12,800
35,383
28,436
543,619
S
Actual
22,965
116,648
75,000
12,087
7,903
88,209
123,534
543,762
46,387
6,238
31,203
5,000
29,668
25,000
24,363
12,484
35,383
28,434
1,234,268
K
Variance
(22,965)
(66,648)
(12,087)
(7,903)
(38,209)
26,466
(543,762)
(46,387)
5,762
(31,203)
100,000
(29,668)
(24,363)
316
2
(690,649)
Continued
- 115 -
CITY OF EVANSTON, ILLINOIS
Community Development Block Grant Fund
Schedule of Expenditures - Budget and Actual (Budgetary Basis) - Continued
Year ended February 28, 2007
Public Services
Adopt a Fancy Can
Senior Crime Prevention
Girls Scouts Studio B
Evanston Community Defender
Evanston Legal Services CCLAF
Youth Job Center of Evanston
Summer Youth
EEAC Job Counselor
YWCA Shelter Project
Melas at Home
North Shore Senior Center
First Base Homeless
Interfaith Predatory
Open Studio Art
Neighborhood Youth Services
Music Institute
Interfaith Housing Program
Second Baptist
Total Public Services
Total Expenditures
Original
and Final
Budget
$ 4,736
18,943
3,988
49,850
8,973
54,836
42,050
2,493
35,892
7,976
23,769
3,988
3,988
2,991
14,018
1,496
11,964
9.970
301,921
S
Actual
4,528
18,943
3,988
49,850
8,973
54,836
42,050
2,493
35,892
7,976
23,769
3,988
3,988
2,991
14,018
1,496
11,964
9,970
301,713
S
Variance
208
208
$ 2,052,319 $ 2,692,229 S (639,910)
Concluded
MOM
CITY OF EVANSTON, ILLINOIS
Special Service District No. 4 Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Year ended February 28, 2007
Revenues
Property taxes
Current year levy
Prior year levy
Interest
Total Revenues
Expenditures
Housing and economic development
Excess of Revenues
over Expenditures
Fund Balance
Beginning of year
End of year
Original
and Final
Budget Actual Variance
$ 255,000 $ 255,000 $ -
- (1,747) (1,747)
- 190 190
255,000 253,443 (1,557)
245,000 245,000 -
$ 10,000 8,443 $ (1,557)
220,478
$ 228,921
- 117 -
CITY OF EVANSTON, ILLINOIS
Township - Town Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Year February 28, 2007 and March 31, 2007 for City and Township respectively
Revenues
Property taxes
Interest
Replacement tax
Total Revenues
Expenditures
General management and support
Excess of Revenues over Expenditures
Other Financing (Uses)
Operating transfers (out)
General Assistance Fund
Excess of Revenues over
Expenditures and Other
Financing Uses
Fund Balance
Beginning of year
End of year
Original
and Final
Budget
$ 340,890
2,000
30,000
372,890
235,119
137,771
(125,000)
$ 12,771
Actual
316,625
7,538
54,833
378,996
213,471
165,525
(125,000)
Variance
(24,265)
5,538
24,833
6,106
21,648
27,754
40,525 $ 27,754
371,952
$ 412,477
SIDE
CITY OF EVANSTON, ILLINOIS
Township - General Assistance Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Year February 28, 2007 and March 31, 2007 for City and Towns
Revenues
Property taxes
Interest
SSI reimbursement
Emergency assistance reimbursement
Total Revenues
Expenditures
General management and support
(Deficiency) of Revenues
(under) Expenditures
Other Financing Sources
Transfers in
Town Fund
Excess (Deficiency) of Revenues and
Other Financing Sources over (under)
Expenditures
Fund Balance
Beginning of year
End of year
Original
and Final
Budget
Actual
Variance
$ 909,040
$ 884,492
$ (24,548)
3,000
9,619
6,619
20,000
3,047
(16,953)
132,912
46,084
(86,828)
1,064,952
943,242
(121,710)
1,142,669
890,170
(252,499)
(77,717)
53,072
130,789
125,000 125,000 -
$ 47,283 178,072 $ 130,789
363,444
$ 541,516
- 119 -
CITY OF EVANSTON, ILLINOIS
Debt Service Funds
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual (Budgetary Basis)
Year Ended February 28, 2007
Revenues
Taxes
Property taxes
Current year levy, net
Prior year levy, net
Sales tax
Investment income
Miscellaneous
Total Revenues
Expenditures
General management
and support
Health and human resources
development
Debt Service
Principal
Interest
Fiscal agent fees
Total Expenditures
Excess (Deficiency) of Revenues
over (under) Expenditures
Oilier Financing Sources (Uses)
Operating transfers in (out)
Bond Proceeds
Escrow Funding
Premiums and discounts
General
Downtown TIF DS
Washington National TiF DS
Special Assessment
Capital Projects
Maple Avenue Garage
Sherman Garage
Excess (Deficiency) of Revenues
and Other Financing Sources
over (under) Expenditures
and Other Financing Uses
Fund Balances
Beginning of year
End of year
Special
Central
General
Service
District
Business
Tax
Southwest Tax
Obi.Ration
Debt
No.
5
Increment
District
Increment
District
Original
Original
Original
Original
and Final
and Final
and Final
and Final
Budget
Actual
Budget
Actual
Budget
Actual
Budget
Actual
$ 8,737,000
$ 8,624,249
$ 438,200
$ 443,931
$ 9,200,000
$ 7,730,035
$ 590,000
$ 632,304
-
52,276
-
5,597
-
5,661
-
20,102
150,000
312,256
200
343
50,000
449,651
6,000
37,157
8,887,000
8,988,781
438,400
449,871
9,250,000
8,185,347
596,000
689,563
3,000
219
42,000
3,209
400,000
105,201
-
7,581
-
-
-
-
200,000
200,000
-
600,000
6,060,000
5,944,343
265,000
285,000
3,780,000
7,000,000
250,000
285,000
4,301,201
4,023,657
170,600
157,313
379,800
220,294
42,800
24,938
190,000
205,970
-
-
40,000
230509
-
-
10,554,201
10,174,189
477,600
445,522
4,799,800
7,756,004
292,800
917,519
(1,667,201)
(1,185,408)
(39,200)
4,349
4,450,200
429,343
303,200
(227,956)
14,430,000
-
-
-
-
(14,367,683)
120,311
129,400
175,000
(325,000)
(325,000)
(23,000)
(23,000)
(845,315)
(845,315)
337,500
337,500
-
-
(4,502,000)
(4,502,000)
466,900
695,128
(5,672,315)
(5,672,315)
(23,000)
(23,000)
$(1,200,301) (490,280) $ (39,200)
1,513,174
$ 1,022,894
4,349 $(1,222,115) (5,242,972) $ 280,200 (250,956)
20,852 7,272,719 590,881
$ 25,201 $ 2,029,747 $ 339,925
- 120 -
Washington
Howard Hartrey Tax
National
Tax
Howard Ridge Tax
West Evanston Tax
Increment District
Increment
District
Increment District
Increment District
Totals
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
$ 1,199,900
$ 1,245,431
$ 1,500,000
$ 1,749,195
$ $ 115,909
$ $ 24,052
$ 21,665,100
$ 20,565,106
-
-
-
54,869
6,492
-
-
144,997
35,000
153,729
15,000
248,671
1,916
19
256,200
1,203,742
-
-
5,500,000
-
-
5,500,000
-
1,234,900
1,399,160
7,015,000
2,052,735
124,317
24,071
27,421,300
21,913.845
-
7,581
145,000
4,407
10,204
17,521
590,000
155,923
200,000
- -
400,000
800,000
425,000
450,000
8,080,000
210,000
-
-
18,860,000
14,174,343
268,700
247,095
1,520,400
(1,128,362)
6,683,501
3,544,935
-
-
135,000
80,382
-
-
365,000
516,861
693,700
704,676
10,080,400
(833,573)
10,204
17,521
26,898,501
19,192,062
541,200
694,484
(3,065,400)
2,886,308
114,113
6,550
522,799
2,721,783
14,430,000
(14,367,683)
120,311
(135,000) (135,000) (144,800) (144,800) - (498,400) (452,800)
845,315 845,315 845,315 845,315
(845,315) (845,315)
337,500 337,500
(4,502,000) (4,502,000)
(727,500) (727,500)
(135,000) (135,000) 700,515 (26,985) - - (4,662,900) (5,162,172)
$ 406,200 559,484 $(2,364,885) 2,859,323 $ 114,113 $ 6,550 $ (4,140,101) (2,440,389)
1,768,187 1,414,443 45,917 - 12,626,173
$ 2,327,671 $ 4,273,766 $ 160.030 $ 6,550 $ 10,185,784
- 121 -
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Ivy
CITY OF EVANSTON, ILLINOIS
Nonmajor Proprietary Funds
Statement of Net Assets
February 28, 2007
Assets
Current Assets
Business -type Activities -Enterprise Fund
Total
Maple Motor Vehicle Nonmajor
Avenue Parking Proprietary
Garage System Funds
Cash and equivalents
$ 1,908,361 $
2,105,875 $
4,014,236
Investments
3,153,635
-
3,153,635
Receivables
Accrued interest
19,936
-
19,936
Other
-
1,448
1,448
Due from other funds
5,500
-
5,500
Total Current Assets
5,087,432
2,107,323
7.194.755
Noncurrent Assets
Capital Assets
Land
-
2,742,522
2,742,522
Capital assets being depreciated
27,128,673
8,755,581
35,884,254
Less accumulated depreciation
(4,232,862)
(2,806,359)
(7,039,221)
Total Noncurrent Assets
22,895,811
8,691,744
31,587,555
Other Assets
Receivables
Notes
-
269,000
269,000
Total Assets
27,983,243
11,068,067
39,051,310
- 122 -
Liabilities
Current Liabilities (Payable from
Current Assets)
Vouchers payable
Accrued payroll
Interest payable
Compensated absences payable
General obligation bonds payable
Unamortized bond expenses and discount
Due to other funds
Total Current Liabilities Payable from
Current Assets
Long -Term Liabilities
General obligation bonds payable
Total Liabilities
Net Assets
Invested in capital assets, net of
related debt
Unrestricted
Total net assets
Business -type Activities -Enterprise Fund
Total
Maple Motor Vehicle Nonmajor
Avenue Parking Proprietary
Garage System Funds
S 113,911 $
58,581 $
172,492
1,714
18,967
20,681
-
41,324
41,324
-
71,133
71,133
7,900,000
630,000
8,530,000
(10,376)
-
(10,376)
8,514
12,299
20,813
8,013,763
832,304
8,846,067
-
2,500,000
2,500,000
8,013,763
3,332,304
11,346,067
14,995,811
5,561,744
20,557,555
4,973,669
2,174,019
7,147,688
$ 19,969,480 $
7,735,763 $
27,705,243
- 123 -
CITY OF EVANSTON, ILLINOIS
Nonmajor Proprietary Funds
Combining Statement of Revenues, Expenses, and Changes in Fund Net Assets
Year ended February 28, 2007
Operating Revenues
Charges for services
Miscellaneous
Total Operating Revenues
Operating Expenses Excluding Depreciation
Administration
Operations
Total Operating Expenses
Excluding Depreciation
Operating Income (Loss) Before Depreciation
Depreciation
Operating Income (Loss)
Nonoperating Revenues (Expenses)
Investment income
Interest expense
Bond expenses and amortization of discount
Total Nonoperating Revenues (Expenses)
Income (Loss) Before Transfers
Transfers In (Out)
Central Business Tax Increment District Fund
Economic Development Fund
Change in Net Assets
Total Net Assets (Deficit) - Beginning of Year
Total Net Assets - End of Year
Business -type Activities -Enterprise Fund
Maple
Total
Avenue
Motor Vehicle
Nonmajor
Garage
Parking
Proprietary
Fund
System
Funds
S 1,417,394
$ 3,048,329
$ 4,465,723
74
10,258
10,332
1,417,468
3,058,587
4,476,055
-
1,096,420
1,096,420
1,821,022
1,447,557
3,268,579
1,821,022
2,543,977
4,364,999
(403,554)
514,610
111,056
684.932
172,643
857,575
(1,088,486)
341,967
(746,519)
186,582
115,954
302,536
(393,174)
(245,879)
(639,053)
(11,023)
(11,023)
(217,615)
(129,925)
(347,540)
(1,306,101)
212,042
(1,094,059)
4,502,000
-
4,502,000
650,000
-
650,000
3,845,899
212,042
4,057,941
16,123,581
7,523,721
23,647,302
19,969,480
$ 7,735,763
S 27,705,243
124 -
CITY OF EVANSTON, ILLINOIS
Nonmajor Proprietary Funds
Statement of Cash Flows
Year ended February 28, 2007
Cash Flows from Operating Activities
Receipts from customers and users
Receipts from interfund services provided
Payments to suppliers
Payments to employees
Payments for interfund services provided
Net Cash Provided by (Used for) Operating Activities
Cash Flows from Noncapital Financing Activities
Transfers In (Out)
Central Business Tax Increment District Fund
Economic Development Fund
Net Cash Provided by Noncapital Financing Activities
Cash Flows from Capital and Related Financing Activities
Acquisition and construction of capital assets
Principal paid on general obligation bonds
Interest paid on general obligation bonds
Net Cash (Used for) Capital and Related Financing Activities
Cash Flows from Investing Activities
Interest income
Net Cash Provided by Investing Activities
Net Increase (Decrease) in Cash and Equivalents
Cash and Equivalents
Beginning of year
End of year
Reconciliation
Cash and equivalents
Unrestricted
Business -type Activities -Enterprise Fund
Maple
'Total
Avenue
Motor Vehicle
Nonmajor
Garage
Parking
Proprietary
Fund
System
Funds
$ 1,423,065
$ 3,108,825
$
4,531,890
54,500
-
54,500
(1,883,627)
(1,440,103)
(3,323,730)
1,714
(1,131,821)
(1,130,107)
8,186
(481)
7,705
(396,162)
536,420
140,258
4,502,000
-
4,502,000
650,000
-
650,000
5,152,000
5,152,000
-
(258,837)
(258,837)
(5,200,000)
(585,000)
(5,785,000)
(393,174)
(245,879)
(639,053)
(5,593,174)
(1,089,716)
(6,682,890)
186,582
115,954
302,536
186,582
115,954
302,536
(650,754)
(437,342)
(1,088,096)
5,712,750
2,543,217
8,255,967
S 5,061,996
$ 2,105,875
$
7.167,871
S 5,061,996
$ 2,105,875
S
7,167,871
S 5,061,996
$ 2,105,875
$
7.167.871
- 125 -
CITY OF EVANSTON, ILLINOIS
Nonmajor Proprietary Funds
Statement of Cash Flows - Continued
Year ended February 28, 2007
Reconciliation of Operating Income (Loss) to Net Cash Provided
by (Used for) Operating Activities
Operating income (loss)
Depreciation
Changes in assets and liabilities
Other receivables
Notes receivable
Interfund receivable
Accrued interest receivable
Compensated absences
Accrued payroll
Interfund payable
Vouchers payable
Interest payable
Net Cash Provided by (Used for) Operating Activities
Business -type Activities -Enterprise Fund
Maple
Total
Avenue
Motor Vehicle Nonmajor
Garage
Parking Proprietary
Fund
System Funds
S (1,088,486) S
341,967 $
(746,519)
684,932
172,643
857,575
-
10,238
10,238
-
40,000
40,000
54,500
-
54,500
5,597
-
5,597
1,714
(37,224)
(35,510)
-
1,823
1,823
8,186
(481)
7,705
(62,605)
15,029
(47,576)
-
(7,575)
(7,575)
S (396,162) $
536.420 $
140,258
- 126 -
CITY OF EVANSTON, ILLINOIS
Water Fund
Schedule of Net Assets
February 28, 2007
Assets
Current Assets
Cash and equivalents
Restricted cash and equivalents and investments
Receivables
Accounts - billed
Accounts - unbilled
Due from other funds
Other Receivables
Accrued interest
Inventory
Total Current Assets
Noncurrent Assets
Restricted cash and equivalents and investments
Capital Assets
Land
Construction in progress
Capital assets being depreciated
Less accumulated depreciation
Total Capital Assets
Total Assets
Restricted Accounts
Operation and
Bond
Depreciation
Maintenance
and
Bond
Improvement
Account
Interest
Reserve
and Extension
Totals
$ 103,565 $
-
$ - $
- $
103,565
-
102,286
-
77,235
179,521
1,067,139
-
-
-
1,067,139
875,241
-
-
-
875,241
85
-
-
15,123
15,208
55,862
-
-
-
55,862
-
-
82,018
55,980
137,998
544,075
-
-
-
544,075
2,645,967
102,286
82,018
148,338
2,978,609
736,044 2,040,329 3,120,898 3,710,114 9,607,385
555,415 - 555,415
65,151 - 390,060 455,211
62,907,213 - - 62,907,213
(15,453,066) - - - (15,453,066)
48,074,713 - - 390,060 48,464,773
$ 51,456,724 $ 2,142,615 $ 3,202,916 $ 4,248,512 $ 61,050,767
- 127 -
CITY OF EVANSTON, ILLINOIS
Water Fund
Schedule of Net Assets
February 28, 2007
Liabilities and Net Assets
Current Liabilities
Vouchers payable
Vouchers payable - restricted
Accrued payroll
Interest payable - restricted
Revenue bonds payable
Revenue bonds payable - restricted
Due to other funds
Compensated absences payable
Total Current Liabilities
Long -Term Liabilities
Revenue bonds payable
Unamortized bond discount on bonds payable
Total Long -Term Liabilities
Total Liabilities
Net Assets
Invested in capital assets, net of related debt
Restricted for debt service
Unrestricted
Total Net Assets
Total Liabilities and Net Assets
Restricted Accounts
Operation and Bond Depreciation
Maintenance and Bond Improvement
Account Interest Reserve and Extension
Totals
$ 322,083 $ - $ - $ 39,782 $ 361,865
- - 77,235 77,235
73,235 - - - 73,235
- 21,453 - 21,453
404,167 - - 404,167
- 80,833 - - 80,833
40,925 - - 1,010 41,935
431,005 - - 431,005
1,271,415 102,286 - 118,027 1,491,728
2,755,000 - 2,755,000
16,935 - - - 16,935
2,771,935 - - - 2,771,935
4,043,350 102,286 - 118,027 4,263,663
45,612,005 - - - 45,612,005
- 2,040,329 3,202,916 4,130,485 9,373,730
1,801,369 - - - 1,801,369
47,413,374 2,040,329 3,202,916 4,130,485 56,787,104
$ 51,456,724 $ 2,142,615 $ 3,202,916 $ 4,248,512 $ 61,050,767
- 128 -
CITY OF EVANSTON, ILLINOIS
Water Fund
Schedule of Changes in Net Assets - Reserved - Restricted Accounts
Year ended February 28, 2007
Bond
Depreciation,
and
Bond
Improvement
Interest
Reserve
and Extension
Totals
Increases
Intrafund transfers in -
accordance with bond ordinance
unreserved retained earnings -
Operation and Maintenance
$ 1,042,300 $
-
$ 3,009,600
$ 4,051,900
Transfer from Capital Improvement
-
-
2,000,000
2,000,000
Investment earnings
75,730
152,918
139,759
368,407
Total Increases
1,118,030
152,918
5,149,359
6,420,307
Decreases
Bond principal
472,500
-
-
472,500
Bond interest
142,359
-
-
142,359
Purchase of capital assets
-
-
4,762,688
4,762,688
Transfer to Insurance Fund
-
-
2,000,000
2,000,000
Payment of expense
300
120
117.716
118,136
Total Decreases
615,159
120
6,880,404
7,495,683
Net Increase (Decrease)
502,871
152,798
(1,731,045)
(1,075,376)
Net Assets
Beginning of year
1,537,458
3,050,118
5,861,530
10,449,106
End of year
$ 2,040,329 $
3,202,916 $
4,130,485
$ 9,373,730
- l29 -
CITY OF EVANSTON, ILLINOIS
Water Fund - Operation and Maintenance Account
Schedule of Revenues, Expenses, and Changes in Unreserved Net Assets - Budget and Actual
Year ended February 28, 2007
(With Comparative Totals for the Year Ended February 28, 2006)
Budget
Actual
Operating Revenues
Charges for services
$ 13,351,200
$ 12,194,340
Miscellaneous
301,600
444,803
Total Operating Revenues
13,652,800
12,639,143
Operating Expenses Excluding Depreciation
Administration
720,500
642,518
Operations
Pumping
1,991,300
1,864,554
Filtration
2,077,000
1,784,406
Meter maintenance
321,100
301,278
Distribution
1,313,400
1,280,427
Other
857,100
908,744
Total Operating Expenses Excluding Depreciation
7,280,400
6,781,927
Operating Income Before Depreciation
6,372,400
5,857,216
Depreciation
-
1,384,583
Operating Income
6,372,400
4,472,633
Nonoperating Revenues (Expenses)
Investment income
50,000
189,392
Interest expense
(142,359)
Bond expenses and amortization of discount
1,129
Net book value of capital assets disposed
-
(4,684)
Total Nonoperating Revenues (Expenses)
50,000
43,478
Income Before Transfers
6,422,400
4,516,111
Transfers In (Out)
Transfer In
-
2,000,000
Transfer Out
(2,693,600)
(4,693,600)
Total Transfers In (Out)
(2,693,600)
(2,693,600)
Net Income
$ 3,728,800
1,822,511
Other Changes in Unreserved Net Assets
Intrafund transfers in (out) - net assets -
reserved - restricted accounts
1,325,647
Increase in Unreserved Net Assets
3,148,158
Unreserved Net Assets
Beginning of year
44,265,216
End of year
$ 47,413,374
Prior Year
Actual
13,475,577
485,859
13,961,436
634,737
1,875,494
1,822,574
310,591
1,100,542
951,123
6,695,061
7,266,375
1,345,848
5,920,527
167,149
(171,977)
(1,401)
(242,851)
(249,080)
5,671,447
3,568,449
(5,993,600)
(2,425,151)
3,246,296
1,066,797
4,313,093
39,952,123
44,265,216
!:[tide
CITY OF EVANSTON, ILLINOIS
Water Fund - Operation and Maintenance Account
Schedule of Operating Revenues - Budget and Actual
Year ended February 28, 2007
(With Comparative Totals for the Year Ended February 28, 2006)
Charges for Services, Net
Water Sales
Evanston
Skokie
Northwest Water Commission
Total Charges for Services
Miscellaneous
Fees and outside work
Fees, merchandise and other
Total Miscellaneous
Prior Year
Budget
Actual
Actual
$ 6,588,000
S 5,804,517
$ 6,706,643
3,247,300
2,891,834
3,018,734
3,496,800
3,497,989
3,750,200
13,332,100
12,194,340
13,475,577
45,000
92,618
78,619
255,700
352,185
407,240
300,700
444,803
485,859
Total Operating Revenues $ 13,632,800 $ 12,639,143 $ 13,961,436
- 131 -
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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.
CITY OF EVANSTON, ILLINOIS
Internal Service Funds
Statement of Net Assets
February 28, 2007
Fleet Services
Insurance
Totals
Assets
Current Assets
Cash and equivalents
$ 110,482
$ 254,366
$ 364,848
Investments
-
4,827,875
4,827,875
Receivables - other
18,575
44,926
63,501
Due from other funds
105,000
-
105,000
Inventories
354,959
-
354,959
Total Unrestricted Current Assets
589,016
5,127,167
5,716,183
Capital Assets
Cost
19,877,815
-
19,877,815
Accumulated depreciation
(13,082,065)
-
(13,082,065)
Total Capital Assets
6,795,750
-
6,795,750
Total Assets
7,384,766
5,127,167
12,511,933
Liabilities and Fund Equity
Current Liabilities
Vouchers payable
162,840
46,356
209,196
Accrued payroll
27,300
1,389
28,689
Compensated absences payable
83,473
-
83,473
Claims payable
-
821,700
821,700
Due to other funds
20,384
795
21,179
Total Current Liabilities
293,997
870,240
1.164,237
Long -Term Liabilities
Claims payable
-
4,874,500
4,874,500
Total Liabilities
293,997
5,744,740
6,038,737
Net Assets (Deficit)
Invested in capital assets, net of
related debt
6,795,750
-
6,795,750
Unrestricted
295,019
(617,573)
(322,554)
Total net assets (deficit)
$ 7,090,769
$ (617,573)
$ 6,473,196
-132-
CITY OF EVANSTON, ILLINOIS
Internal Service Funds
Combining Statement of Revenues, Expenses, and Changes in Net Assets
Year ended February 28, 2007
Operating Revenues
Charges for Services
General Fund
Sewer Fund
Water Fund
Motor Vehicle Parking System Fund
Miscellaneous
Total Operating Revenues
Operating Expenses
General support
Major maintenance
Vehicle body maintenance
General liability claims
Workers compensation claims
Other
Total Operating Expenses
Operating Income (Loss) Before Depreciation
Depreciation
Operating Income (Loss)
Nonoperating Revenues (Expenses)
Investment income
Gain (loss) on disposition of assets
Total Nonoperating Revenues (Expenses)
Income (Loss) before Operating Transfers
Transfers In (Out)
Water Fund
Sewer Fund
General Fund
Change in Net Assets
Total Net Assets (Deficit) - Beginning of Year
Total Net Assets (Deficit)- End of Year
Fleet Services
Insurance
Totals
$ 4,317,800 S
1,900,000
S 6,217,800
258,600
-
258,600
331,200
-
331,200
111,800
-
111,800
37,081
112,722
149,803
5,056,481
2,012,722
7,069,203
452,555
-
452,555
2,526,141
-
2,526,141
216,696
-
216,696
-
2,837,645
2,837,645
-
1,225,242
1,225,242
-
102,377
102,377
3,195,392
4,165,264
7,360,656
1,861,089
(2,152,542)
(291,453)
1,553,190
-
1,553,190
307,899
(2,152,542)
(1,844,643)
-
57,343
57,343
106,733
-
106,733
106,733
57,343
164,076
414,632
(2,095,199)
(1,680,567)
-
2,000,000
2,000,000
-
3,000,000
3,000,000
300,000
-
300,000
714,632
2,904,801
3,619,433
6,376,137
(3,522,374)
2,853,763
$ 7,090,769 $
(617,573)
S 6,473,196
Continued
- 133 -
CITY OF EVANSTON, ILLINOIS
Internal Service Funds
Combining Statement of Cash Flows
Year ended February 28, 2007
Fleet Services
Insurance
Totals
Cash Flows from Operating Activities
Receipts from customers and users
$ 5,057,931 $
1,967,796 $
7,025,727
Receipts from interfund services provided
176,650
-
176,650
Payments to suppliers
(2,851,600)
(1,798,352)
(4,649,952)
Payments to employees
(467,967)
(1,224,580)
(1,692,547)
Payments for interfund services provided
(964,740)
795
(963,945)
Net Cash Provided By (Used For) Operating Activities
950,274
(1,054,341)
(104,067)
Cash Flows from Noncapital Financing Activities
Transfers In (Out)
Water Fund
-
2,000,000
2,000,000
Sewer Fund
-
3,000,000
3,000,000
General Fund
300,000
-
300,000
Net Cash Provided by Noncapital Financing Activities
300,000
5,000,000
5,300,000
Cash Flows from Capital and Related Financing Activities
Sale of capital assets
129,798
-
129,798
Acquisition and construction of capital assets
(1,294,308)
-
(1,294,308)
Net Cash (Used for) Capital and
Related Financing Activities
(1,164,510)
-
(1,164,510)
Cash Flows from Investing Activities
Proceeds from sales and maturities of investments
-
-
-
Purchase of investments
-
(3,857,343)
(3,857,343)
Interest income
-
57,343
57,343
Net Cash Provided by Investing Activities
-
(3,800,000)
(3,800,000)
Net Decrease in Cash and Equivalents
85,764
145,659
231,423
Cash and Equivalents
Beginning of year
24,718
108,707
133,425
End of year
S 110,482 $
254,366 $
364,848
Continued
- 134 -
CITY OF EVANSTON, ILLINOIS
Combining Statement of Cash Flows - Continued
Internal Service Funds
Year ended February 28, 2007
Reconciliation of Operating Income to Net Cash
Provided by (Used for) Operating Activities
Operating Income
Adjustments to reconcile operating income to
net cash provided by (used for) operating activities
Depreciation
Changes in assets and liabilities
Other receivables
Interfund receivable
Inventories
Compensated absences
Accrued payroll
Interfund payable
Vouchers payable
Claims payable
Net Cash Provided By (Used For) Operating Activities
Fleet Services Insurance Totals
S 307,899 $ (2,152,542) $ (1,844,643)
1,553,190 - 1,553,190
1,450
(44,926)
(43,476)
176,650
-
176,650
(73,982)
-
(73,982)
(19,102)
-
(19,102)
3,690
662
4,352
(964,740)
795
(963,945)
(34,781)
(20,416)
(55,197)
-
1.162,086
1,162,086
S 950,274 $ (1,054,341) $ (104,067)
- 135 -
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AGENCY FUND
This page has been intentionally left blank.
CITY OF EVANSTON, ILLINOIS
Special Assessment Agency Fund
Statement of changes of Assets and Liabilities
Year ended February 28, 2007
Assets
Current Assets
Cash and short term investments $
Total Assets $
Liabilities
Due to special assessment bondholders $
Total Liabilities $
Beginning of End of
Year Additions Deletions Year
21,073 $
- $
- $
21,073
21,073 $
- $
- $
21,073
21,073 $
- $
- $
21,073
21,073 $ - $ - $ 21,073
- 136 -
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STATISTICAL SECTION (UNAUDITED)
This page has been intentionally left blank.
Statistical Section
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.
Contents Page
Financial Trends 137-140
These schedules contain trend information to help the reader understand
how the Government's financial performance and well-being have changed
over time.
Revenue Capacity 141-143
These schedules contain information to help the reader assess the
Government's most significant local revenue source, the property tax.
Debt Capacity 144-146
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.
Demographic and Economic Information 147-148
These schedules offer demographic and economic indicators to help the
reader understand the environment within the Government's financial
activities take place.
Operating Information 149-154
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.
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.
CITY OF EVANSTON, ILLINOIS
Net Assets by Component
Last Five Fiscal Years
(accrual basis of accounting)
(amounts expressed in thousands)
Governmental Activites
Invested in Capital Assets, net of related debt
Restricted
Unrestricted
Total Governmental Activities net assets
Business -type Activities
Invested in Capital Assets, net of related debt
Restricted
Unrestricted
Total Business -type Activities net assets
Primary Government
Invested in Capital Assets, net of related debt
Restricted
Unrestricted
Total Primary Governemnt net assets
Note: A Ten Year history is not yet available.
Source: City Finance department
Fiscal Year
2003 2004 2005 2006 2007
$ 35,437 $ (9,753) $ 426 $ 34,428 $ 31,133
33,826 33,415 32,811 31,169 30,034
(15,245) 32,861 43,010 15,408 25,171
$ 54,018 $ 56,523 $ 76,247 $ 81,005 $ 86,338
$ 96,615 $ 103,339 $ 114,442 $ 129,084 $ 140,621
9,491 11,158 11,274 10,449 9,374
18,053 23,332 21,478 23,483 21,417
$ 124,159 $ 137,829 $ 147,194 $ 163,016 $ 171,412
$ 132,052 $ 93,586 $ 114,868 $ 163,512 $ 171,754
43,317 44,573 44,085 41,618 39,408
2,808 56,193 64,488 38,891 46,588
$ 178,177 $ 194,352 $ 223,441 $ 244,021 $ 257,750
- 137 -
CITY OF EVANSTON, ILLINOIS
Changes in Net Assets
Last Five Fiscal Years
(accrual basis of accounting)
(amounts expressed in thousands)
Expenses
Governmental Activites
General government
Public Safety
Public Works
Health & Human Resource Development
Housing & Economic Development
Culture and Recreation
Interest on Long-term Debt
Total governmental activities expenses
Business -type Activities
Water
Sewer
Motor vehicle parking system
Sherman garage
Maple avenue garage
Total Business -type Activities
Total primary government expenses
Program Revenues
Governmental Activites
Charges for Services
General government
Culture and Recreation
Other activies
Operating grants and contributions
Capital Grants and Contributions
Total governmental activities program revenues
Business -type activities
Charges for Services
Water
Sewer
Sherman garage
Motor vehicle parking system
Maple avenue garage fiord
Total Business -type activities program reveneus
Ttoal primary government program revenues
Net (expense)/revenue
Governmental activities
Business -type activites
Total Primary Government net expense
General Revenues and Other Changes in
Net Assets
Governmental Activites
Taxes
Property taxes
Sales taxes
Motor Fuel Taxes
Investment earnings
Miscellaneous
Transfers
Total governmental activites
Business -type activities
Investment earnings
Transfers
Total business -type activites
Total primary government
Changes in Net Assets
Governmental activities
Business -type activites
Total primary government
Source: City Finance department
Note: A Ten Year History is not yet available
-138-
Fiscal Year
2003 2004 2005 2006 2007
$ 14,274 $
15,791 $
14,451 $
19,537 $
19,951
33,420
39,237
31,168
45,951
46,368
13,187
13,065
14,225
14,632
16,505
5,041
5,370
5,843
4,781
6,108
5,818
5,973
6,757
6,850
7,924
16,247
17,129
18,276
19,792
18,303
4.540
4.900
5.086
5.874
6.926
92,527
101,465
95,806
117,417
122,085
11,407
8,992
8,176
8,760
8,778
8,544
8,964
8,781
9,219
9,588
3,702
3,468
4,777
2,904
2,963
1,613
2,679
3,028
3,148
3,096
2,910
26,332
24,452
24,882
23,979
25,852
$ 118,859 $
125,917 $
120,688 $
141,396 $
147,937
$ 11,704 $
12,750
$ 13,262 $
13,060 $
13,630
3,759
3,739
3,731
4,310
4,353
4,479
6,799
9,253
10,293
8,779
3,006
3,480
3,713
3,441
3,679
1,963
1,459
212
1,127
185
24.911
28.227
30.171
32.231
30.626
13,495
13,478
13,187
13,961
12,639
15,806
15,436
14.913
16,077
14,394
779
3,129
3,266
3,011
2,965
3,059
1,266
1,263
1,512
1,622
1,417
33.696
33.443
32.623
34.625
32.288
$ 58,607 $
612670
$ 62,794 $
66,856 $
62,914
Fiscal Year
2006
2007
2007
2007
2007
(67,616)
(73,238)
(65,635)
(85,186)
(91,459)
7.364
8.991
7.741
10.646
6.436
(60,252)
(64,247)
(57,894)
(74,540)
(85,023)
$ 71,719 $
217
2,116
1,266
2,513
(1.719)
76,112
432
1.719
2,151
$ 78,263 $
$ 8,496 $
9.515
$ 18,011 $
75,929 $
79,715 $
345
345
1,710
1,547
2,096
4,996
(4.335)
(1.244)
75,745
85,359
343 380
4.335 1.244
4,678 1,624
80,423 $ 86,983 $
89,810 $
61,983
14,387
2,997
3,752
1,412
17,287
(4.277)
(616)
89,942
96,793
896 1,344
4.277 616
5,173 1,960
95,115 $ 98,753
2,507 $ 19,724 $ 4,756 $ 5,334
13.669 9.365 15.819 8.396
16,176 $ 29,089 $ 20,575 $ 13,730
CITY OF EVANSTON, ILLINOIS
Fund Balances, Governmental Funds
Last Ten Fiscal Years
( Modified accrual basis of accounting)
(amounts expressed in thousands)
Fiscal Year
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
General Fund
Reserved
$
803
$
965
$
745
$
3,104
$
2,820
$
4,614
$
4,665
$ 7,948
$
6,027
$
1,327
Unreserved
7,001
7,222
9,327
11,341
12,438
13,110
14,375
15,209
18,804
24,866
Total general fund
$
7,804
$
8,187
$
10,072
$
14,445
$
15,258
$
17,724
$
19,040
$ 23,157
$
24,831
$
26,193
All Other Governmental Funds
Reserved
$
24,073
$
27,054
$
26,867
$
23,014
$
25,683
$
29,211
$
28,750
$ 30,761
$
33,937
$
31,741
Unreserved, reported in
Special revenue funds
4,555
4,959
5,033
6,371
7,507
60,514
4,617
5,249
5,171
5,587
Capital Projects Funds
13,897
13,564
14,494
27,222
12,648
-
58,816
49,476
31,696
23,965
Total all other governmental funds
$
42,525
$
45,577
$
46,394
$
56,607
$
45,838
$
89,725
$
92,183
$ 85,486
$
70,804
$
61,293
Note: Fund balances for debt service have been included in the reserved amounts.
Source: City Finance department
-139-
CITY OF EVANSTON, ILLINOIS
Changes in Fund Balances, Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
(amounts expressed in thousands)
Revenues
Taxes
Licenses, fees and permits
Fines and penalties
Charges for services
Special Assessments
Intergovernmental
Investment Earnings
Other Revenues
Total Revenues
Expenditures
General Government
Public Safety
Public Works
Recreation and cultural opportunities
Health and Human Development
Housing and Economic Development
Pensions
Capital Outlay
Debt Service
Interest
Fiscal agent fees
Principal
Total governmental activities program revenues
Net (expense)/revenue
Governmental activities
Other financing sources (uses)
Proceeds from borrovring
Payment/Proceeds from refunding
Capitalized interest income
Capitalized interest expense
Proceeds sale property/other
Reduction in long term debt
Escrow funding
Transfers in
Transfers (out)
Total Other financing sources (uses)
Net Changes in Fund Balance
Debt Service as a percentage of
noncapital expenditures
Source, City Finance department
Fiscal Year
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
$ 50,245 S
56,916 $
62,382 S
67,585 $
68,749 S
58,814 $
63,833 S
66,744 S
75,661 S
77,137
4,394
4,187
5,333
6,436
7,405
6,459
6,699
6,773
9,164
8,061
2,764
2,831
2,625
2,782
3,242
3,742
4,163
3,999
3,781
4,029
4,030
4,998
4,860
5,491
5,515
6,262
5,997
6,053
6,905
7,167
-
-
-
-
208
217
365
546
565
5,844
5,640
7,259
5,448
5,859
19,116
18,586
21,618
21,106
21,402
2,341
2,204
2,477
3,297
2,458
1,255
1,650
1,540
2,970
3,695
3.717
3 732
4.399
4300
4.976
6.859
6.953
9 451
5.812
5578
73,335
80,508
89,335
95,339
98,204
102,715
108,098
116,543
125,945
127,634
7,411
8,386
9,732
10,107
13,025
12,565
13,365
14,666
15,601
14,539
21,239
22,182
22,505
23,928
25,454
32,093
33,896
36,323
39,094
39,690
9,616
10,434
12,678
12,037
11,655
10,847
1 1,1 19
12,070
13,242
14,282
9,940
10,590
11,730
12,107
13,028
13,712
14,287
15,493
16,526
16,683
3,991
4,212
4,342
4,744
4,621
4,839
5,272
5,801
4,566
5,850
6,320
5,336
7,013
5,620
6,293
5,662
5,882
6,717
6,646
7,683
3,812
8,516
8,537
8,801
9,277
4,209
2,688
1,372
4,628
5,645
9,437
4,944
6,047
10,464
16,837
13,301
9,941
18,208
42,087
18,986
4,243
4,767
4,529
4,770
4,339
4,846
5,163
5,027
5,857
6,927
-
359
323
517
11,548
7,421
6,188
6,325
6,300
6,585
9,385
7,885
7,690
11,530
87 557
86 788
93301
98.903
110.829
108.659
110.998
123.921
156.260
142.332
(14,222)
(6,280)
(3,966)
(3,564)
(12,625)
(5,944)
(2,900)
(7,378)
(30,315)
(14,698)
$ 32,317 $
7,184 S
37,251 S
15,314 $
- $
57,066 S
24,917 $
25,724 $
31,332 $
24,916
(18,412)
-
(32,221)
-
-
-
-
-
-
-
-
773
-
-
355
-
-
-
-
-
(773)
-
-
(355)
-
145
-
45
-
318
40
-
-
-
-
-
-
-
-
(4,072)
(12,718)
(11,886)
(6,626)
(14,368)
5,756
5,854
7,705
3,526
5,619
8,259
9,762
6,020
7,032
6,529
(2.9511
(33231
(5. 174)
(2.2101,
(3.893)
(95721
(15.2871
(15.0621,
(14.432)
(10.528)
16,855
9,715
7,606
16,630
2,044
51,621
6,674
4,796
17,306
6,549
S 2,633 S
3,435 $
3,640 $
13,066 $
(10,581) S
45,677 $
3,774 $
(2,582) $
(13,009) S
(8,149)
2021%
1489%
1228%
1255%
1132%
1199%
1440%
1221%
11.87%
1496%
140 -
CITY OF EVANSTON, ILLINOIS
Assessed Value and Actual Value of Taxable Property
Last Ten Fiscal Years
(amounts expressed in thousands)
Levy
Less
Total Taxable
Total
Total
Year
Residential
Farm
Commercial
industrial
Railroad Tax -Exempt
Assessed
Actual
Tax
Ended
Property
Pro a
Pro a
Pro a
Pro a Property
Value
Value
Rate
1996
704,557,445
16,895
397,411,620
80,770,373
356,179
1,183,112,512
3,549,337,536
2.059
1997
702,987,666
16,895
396,349,777
79,242,479
317,786
1,178,914,603
3,536,743,809
2.069
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
Note: Property is reassessed once every three years. Property is assessed at 1/3 actual value. Tax rates are per $100 of assessed value
Source: Cook County Assessor's office
MENE
CITY OF EVANSTON, ILLINOIS
Principal Property Tax Payers
Current year and Nine Years Ago
Tax Paver
Golub & Company
REP CBRE
Rotary International
Church Street Plaza
Church & Chicago LTD. Partnership
Omni Orrington Hotel
Evanston Plaza Freed
Evanston Hotel Assoc.
Albertson Property Tax
Kap Sum Properties LLC
Total
Total EAV
Source: Cook County Assessor's office
2006 (2005 EAV)
Percentage
of Total City
Total
Taxable
Assessed
Assessed
Value
Rank
Value
28,624,653
1
1.28%
21,727,776
2
0.97%
21,523,423
3
0 96%
17,921,581
4
0 80%
15,878,114
5
0.71%
13,391,021
6
0 60%
13,300,351
7
0.59%
12,361,644
8
0.55%
10,650,893
9
0.47%
9,792,045
10
0.44%
165,171,501 7.36%
2,242,753,022
Rotary International
Washington National
Dayton Hudson
Balcor Co
Equity Group
Presbyterian Homes
The Shaw Co
Shand Morahan Co
St Francis Hospital
Omni Orrington Hotel
Total EAV
-142-
1997 (1996 EAV)
Percentage
of Total City
Total
Taxable
Assessed
Assessed
Value
Rank
Value
16,559,326
1
1 40%
11,930,798
2
101%
10,734,596
3
0.91%
9,007,679
4
0.76%
8,681,440
5
0.73%
8,511,049
6
0.72%
8,342,043
7
0.71%
8,176,365
8
0.69%
7,725,275
9
0.65%
6,821,621
10
0.58%
96,490,192
1,183,112,512
8.16%
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 Lew
1997 $
23,757,144 $
23,234,806
97.80%
$ 404,013 $
23,638,819
99.50%
1998
23,757,032
23,223,913
97.76%
544,880
23,768,793
100.05%
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
3,481,259
10.12%
-
3,481,259
10.12%
Source: City Finance department
-143-
CITY OF EVANSTON, ILLINOIS
Ratio of General Bonded Debt Outstanding
Last Ten Fiscal Years
(dollars in thousands, except per capita)
(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
1998
73,233
1,148,604,617
128,908,875
4,039,098
62,085,000
62,784,777
5.47%
857.33
1999
73,233
1,256,996,184
130,976,752
4,178,055
68,025,000
58,773,697
4.68%
802.56
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%
75L69
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
Notes:
(1) Equalized assessed values do not include tax increment financing district incremental equalized assessed values
(2) 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
(3) 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.
Source: Cook County and City Finance department
-144-
CITY OF EVANSTON, ILLINOIS
Direct and Overlapping Governmental Activities
As of February 28, 2007
Direct debt - bonds, notes, and
contracts outstanding (2)
Other bonded debt
County of Cook
Cook County Forest Preserve District
Metropolitan Water Reclamation District
High School District 202
School District 65
Skokie Park District
Total Overlapping Debt
Total Direct and Overlapping Debt
Source: Cook County
Percentage
of Debt
City of
Applicable
Evanston's
Total to City of
Share of Debt
Outstanding Evanston
(1)
$ 84,460,493 100,000% $ 84,460,493
3,022,505,000
1.683%
50,868,759
128,670,000
1.683%
2,165,516
1,628,886,177
1.719%
28,000,553
14,396,049
88.571%
12,750,725
37,795,000
88.571%
33,475,409
25,368,563
0.658%
166,925
4,857,620,789 127,427,889
$ 4,942,081,282 $ 211,888,382
- 145 -
CITY OF EVANSTON, ILLINOIS
Pledged -Revenue Coverage
Last Ten Fiscal Years
Fiscal
Year
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Water Revenue Bonds
Net
Utility
Less:
Service
Operating
Charges
Expenses
$ 12,113,182
$ 5,669,524
13,192,965
5,416,366
13,709,645
5,602,297
13,509,413
5,430,908
13,005,269
5,670,480
13,687,288
9,347,238
13,583,515
7,056,290
13,338,642
6,395,231
14,380,966
6,705,865
13,196,942
6,900,063
Available
Debt Service
Resources
Principal
Interest
$ 6,443,658
$ 1,613,334
$ 941,293
7,776,599
1,907,500
639,234
8,107,348
2,170,000
666,466
8,078,505
2,245,000
589,559
7,334,789
2,325,000
494,210
4,340,050
2,200,000
343,795
6,527,225
805,000
235,913
6,943,411
805,000
206,575
7,675,101
865,000
177,355
6,296,879
470,000
145,088
Coverage
2.52
3.05
2.86
2.85
2.60
1.71
6.27
6.86
7.36
10.24
Note: 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.
Source: Various City departments
MEM
CITY OF EVANSTON, ILLINOIS
Demographic and Economic Statistics
Last ten Calendar Years
Per
Capita
Education
Personal
Median
Level in Years
School
Unemployment
Year
Population
Income
Age
of Schooline
Enrollment
Rate
1998
73,233
$ 28,740
31.9
13.6
9,764.0
3.7%
1999
73,233
29,372
31.9
13.6
9,433.0
3.6%
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%
Source: Various Government agencies
-147-
CITY OF EVANSTON, ILLINOIS
Principal Employers
Current Year and Nine Years Ago
2007
Employer Emnlovees Rank
1998
Emnlovees Rank
Northwestern University
5,325
1
Northwestern University
5,900 1
Evanston Northwestern Healthcare
3,780
2
Evanston Northwestern Healthcare
4,300 2
St. Francis Hospital
1,649
3
St. Francis Hospital
2,000 3
City of Evanston
865
4
Evanston School District 65
1,200 4
Evanston School District 65
700
5
City of Evanston
832 5
Evanston Township High School
566
6
Presbyterian Homes/McGaw Care
610 6
Presbyterian Homes/McGaw Care
533
7
Evanston Township High School
500 7
Rotary International
460
8
Rotary International
450 8
Jewel/Osco Food Stores
455
9
National Louis University
300 9
Mather LifeWays Retirement
430
10
Shand Morahan Co
175 10
Total
Source: City Economic Development Division
14,763
-148-
16,267
CITY OF EVANSTON, ILLINOIS
Full-time Equivalent City Government Employees by Function
Last Ten Fiscal Years
Fiscal Year Ended 2/28
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Function/Proeram
General Government
City Clerk
300
3.00
300
300
3.00
300
200
200
200
200
City Manager's Office
8.35
805
805
7.55
755
755
7.25
7.25
7.25
725
MBIS
11.75
14.75
16.75
17.75
20.75
2150
21.80
22.80
24.80
23.80
Legal
6 50
6.50
6.50
750
750
6.00
6.00
7.00
7.00
7.00
Human Resources
800
9.00
9.00
8.00
8.00
8.00
7.00
700
7.00
800
Finance
2350
23.50
23.50
26.00
27.00
26.00
24.50
24.50
2650
25.50
Facilities Management
24.00
2300
2300
23.00
24.00
23.00
2300
23 10
21 10
21 20
Community Development
3200
36.00
3600
38.00
38.00
36.00
3400
36.00
3600
3600
Police
22600
22700
211 00
211 80
21480
21230
21380
21750
21950
221 75
Fire
10800
10800
10900
10900
10900
10900
10900
10900
11000
1 1 1 00
Human & Health Services
4545
4507
4593
4573
4503
41 73
3954
3930
3930
40.15
Public Works
82.01
85 51
9251
91 50
9050
9000
9000
90.25
91.25
9025
Human Relations
400
400
4.00
400
4.00
4.00
400
4.00
400
4.00
Library
6277
65 52
6552
6552
6637
67 17
66.20
66.65
67 18
67 19
Recreation, Parks & Forestry
8427
8707
93 38
112.22
12482
12225
113.94
11920
121 30
11990
Total General Fund
72960
74597
747 14
770.57
79032
777.50
762.03
775.55
784.18
784.99
Emergency Telephone System
2.00
200
200
3.00
3.00
3.00
400
4.00
400
4.00
CDBG
200
200
200
2.00
3.50
200
200
2.00
200
200
Economic Development Fund
1 45
1.15
1.45
1.45
1.45
1.45
1.45
145
1 45
1 45
Downtown II TIF Fund
1 00
Maple Ave Garage
1 00
1.00
Parking Systems
11 00
11 00
13.00
13.00
1300
13.00
1300
1300
1400
14.50
Special Engineering
3 50
-
Water
42.50
4250
4250
4400
4400
4400
4400
43.00
43.00
4300
Sewer
13.50
13 50
1350
1400
14.00
1400
1400
14,00
13 50
1400
Fleet Services
16,60
17.00
1700
1700
17,00
1700
1700
1700
17.00
1700
Insurance Fund
-
200
1 30
1.30
1 30
1.30
Total Other Funds
92.55
89.15
91.45
94.45
9595
9645
9675
95.75
97,25
9925
Total All Funds
822.15
835.12
838.59
86502
88627
873.95
85878
871.30
881.43
88424
Source: City Human Resource department
149 -
CITY OF EVANSTON, ILLINOIS
Property Tax Rates per $100 - Direct and Overlapping Governments
Last Ten Levy Years
Tax Levy Year
Government Unit
City of Evanston
Consolidated Elections
Cook County
Cook County Forest Preserve District
Suburban T B Sanitarium
Metropolitan Water Reclamation District
North Shore Mosquito Abatement District
Evanston Township
Community College 535
School District 202
School District 65
Total tax rate for property not in park district
or special service district
Percent of total tax rate levied by City of Evanston
Source: Cook County Assessor's office
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005
2059.2069 1 888 1 934 2033 1.628 1 610 1 698 1 528 1 491
- 0.027 - 0.023 - 0.032 - 0 029 - 0 014
0.989 0 919 0 911 0 854 0 824 0.746 0.690 0 630 0 593 0 533
0 074 0 074 0 072 0.070 0 069 0 067 0 061 0 059 0 060 0 060
0 008 0 008 0.008 0.008 0.008 0 007 0.006 0.004 0 001 0 005
0 492 0 451 0 444 0.419 0 415 0 401 0.371 0.361 0 347 0 315
0 011 0 011 0.011 0 011 0 011 0 010 0.009 0.009 0 008 0.008
0 076 0 077 0 072 0 072 0 077 0 064 0 062 0 065 0 056 0 055
0206 0.216 0.205 0203 0.213 0 186 0.179 0 186 0 161 0 158
2 992 3 107 2.905 2 865 2.977 2 469 2 349 2.444 2078 2023
4209 4 356 4.126 4 073 4 232 3 516 3 343 3 475 2.978 2,890
11 116 11 315 10 642 10 532 10.859 9 126 8 680 8.960 7.810 7 552
18 5% 18.3% 17.7% 18 4% 18.7% 17.8% 18 5% 19 0% 19 6% 19 7%
- 150 -
CITY OF EVANSTON, ILLINOIS
Water Sold by Type of Customer
Last Ten Fiscal Years
(in 100 cubic feet)
Type of Customer
Residential
Industrial
Commercial
Government
Total
Total direct rate
per 100 cubic feet
Source: City Water department
Fiscal year
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Unavailable
Unavailable
2,875,669
2,842,137
2,711,271
2,734,202
2,639,717
2,506,887
2,720,807
2,388,360
Unavailable
Unavailable
42,440
42,748
41,895
37,076
36,015
22,010
20,096
16,307
Unavailable
Unavailable
1,306,272
1,252,818
1,337,280
1,395,576
1,415,895
1,318,236
1,267,657
1,278,334
Unavailable
Unavailable
97,565
101,021
113,349
112,007
90,908
86,096
109,121
96,777
-
-
4,321,946
4,238,724
4,203,795
4,278,861
4,182,535
3,933,229
4,117,681
3,779,778
S 1.36
$ 1.47
$ 1.47
$ 1.47
$ 1,47
$ 1.47
$ 1.47
$ 1.47
$ 1.47
$ 1.47
- 151 -
CITY OF EVANSTON, ILLINOIS
Water Sold by major Customers
Last Ten Fiscal Years
Fiscal year
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Type of Customer
Evanston residents/businesses
$ 5,152,353
$ 6,911,950
$ 6,774,380
$ 6,811,100
$ 6,606,091
$ 6,711,004
$ 6,665,158
$ 6,559,026
$ 6,706,644
$ 5,804,517
Village of Skokie
2,817,402
2,907,178
2,908,102
2,918,766
2,859,685
3,011,018
2,959,732
2,802,720
3,018,734
2,891,834
Northwest Water Commission
2,941,420
3,181,411
3,367,773
3,283,048
3,247,291
3,434,685
3,367,253
3,377,407
3,750,200
3,497,989
Total
$10.91 I.175
$13.000.539
$13,050.255
S 13,012.914
$12,713,067
$13.156.707
$12,992.143
$12.739,15 3
$13.475.578
$12.194,340
Source: City Water department
- 152 -
CITY OF EVANSTON, ILLINOIS
Operating Indicators by Function/Programs
Last Ten Years
Calender Year
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
Function/Proeram
Police
Violent Offenses
523
347
349
393
270
314
293
266
226
224
Property Offenses
7,146
5,311
4,819
4,858
4,174
4,122
3,318
3,145
2,965
2,942
911 Calls Received
30,672
29,006
27,893
29,052
37,201
55,125
55,383
56,650
56,650
55,795
Fire
Emergency responses
N/A
7,245
7,432
7,566
7,925
8,003
8,106
7,624
8,135
8,173
Fires extinguished
N/A
280
259
247
227
218
225
199
287
220
Inspections
N/A
2,620
2,600
2,940
3,071
2,664
2,194
1,496
1,320
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
unavailable
unavailable
15,561
Picnic permits issued
unavailable
unavailable
unavailable
unavailable
unavailable
unavailable
unavailable
unavailable
unavailable
319
Library
Volumes in collection
411,804
422,966
437,104
455,481
463,263
477,768
491,064
520,458
486,031
495,575
Total volumes borrowed
897,823
872,791
858,343
839,701
878,990
887,773
868,837
880,561
893,841
897,141
Water
New connections
unavailable
23
44
55
68
47
70
59
74
104
Water main breaks
unavailable
41
59
53
34
65
41
45
78
48
Average daily consumption
(millions of gallons)
47.57
5127
50.33
47.16
37.16
36.22
37.74
37.31
41.44
4141
Peak daily consumption
(millions of gallons)
81.63
73.40
80.74
69.12
75.50
75.50
73.17
60.98
80.46
66.49
Source: Various City departments
Note: Indicators are not available for general government functions
-153-
CITY OF EVANSTON, ILLINOIS
Capital Assets Statistics by Function
Last Ten Years
Calender Year
1997 1998 1999 2000 2001 2002
Function/Proeram
Police
Number of Stations
1
1
1
1
1
1
Budgeted Sworn Officers
162
162
162
162
161
161
Fire Stations
5
5
5
5
5
5
Other Public Works
Streets (miles)
147.0
147.0
147.0
147.0
147.0
147.0
Highways (miles)
N/A
N/A
N/A
N/A
N/A
N/A
Streetlights
5,641
5,641
5,641
5,641
5,641
5,641
Parks and Recreation
Acreage
290
290
290
290
290
290
Playgrounds
51
51
51
51
51
51
Baseball/softball diamonds
18
18
18
18
18
18
Soccer/football fields
27
27
27
27
27
27
Community centers
5
5
5
5
5
5
Water
Water mains (miles)
159.0
159.0
159.0
159.0
159.0
159.0
Fire hydrants
1,347
1,347
1,347
1,347
1,347
1,347
Storage capacity (millions of gallons)
22
22
22
22
22
22
Source: Various City departments
Note: No capital asset indicators are available for the geveral government
or library function
-154-
2003 2004 2005 2006
1
1
1
1
161
161
161
162
5
5
5
5
147.0
147.0
147.0
147.0
N/A
N/A
N/A
N/A
5,641
5,641
5,641
5,641
290
290
290
290
51
51
51
51
18
18
18
18
27
27
27
27
5
5
5
5
159.0
159.0
159.0
159.0
1,347
1,347
1,347
1,347
22
22
22
22
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TAX INCREMENT FINANCING DISTRICT
REQUIREMENTS
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N
Vi rchow Krause
&company
INDEPENDENT AUDITOR'S COMPLIANCE REPORT
To Honorable Lorraine H. Morton, Mayor and
Members of the City Council
Evanston, Illinois
We have audited the financial statements of the City of Evanston for the year ended February 28, 2007,
and have issued our report dated August 27, 2007. The financial statement is the responsibility of the
management of the City of Evanston. Our responsibility is to express an opinion on the eligibility of the
expenditures for costs incurred incidental to the implementation of the redevelopment plan and
redevelopment projects associated with the Central Business, Howard Hartrey, Southwest, and
Washington National Tax Increment Districts pursuant to subsection (q) of Section 11-74.4-3 of the Illinois
Tax Increment Redevelopment Allocation Act.
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America. Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material misstatement. An audit includes examining,
on a test basis, evidence supporting amounts and disclosures in the financial statements. An audit also
includes assessing the accounting principles used and significant estimates made by management, as
well as evaluating the overall financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
The management of the City of Evanston is responsible for the City of Evanston's compliance with laws
and regulations. In connection with our audit, referred to above, we selected and tested transactions and
records to determine the City's compliance with State of Illinois Public Act 85-1142, "An Act in Relation to
Tax Increment Financing."
The results of our tests indicate that for the items tested the Central Business, Howard Hartrey,
Southwest, and Washington National Tax Increment Districts complied with subsection (q) of Section 11-
74.4-3 of Public Act 85-1142.
Oak Brook, Illinois
August 27, 2007
Virchow, Krause & Company, LLP
Certified Public Accountants & Consultants • An Independent Member of Baker Tilly International
- 155 -
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