HomeMy WebLinkAbout2005-2006 Annual Comprehensive Financial Report
ILLINOIS
Comprehensive Annual Financial Report
For the Fiscal Year Ended February 28, 2006
CITY OF EVANSTON, ILLINOIS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED
FEBRUARY 28, 2006
Prepared by Finance Department
Mary Rodino Kutz
Interim Finance Director and Comptroller
CITY OF EVANSTON, ILLINOIS
Table of Contents
PAGE
Principal Officials v
Organization Chart vi
Letter of Transmittal vii
Certificate of Achievement for Excellence in Financial Reporting xiv
INDEPENDENT AUDITORS' REPORT ON THE FINANCIAL STATEMENTS 1
MANAGEMENT'S DISCUSSION AND ANALYSIS 3
BASIC FINANCIAL STATEMENTS
Statement of Net Assets 11
Statement of Activities 13
Governmental Funds Balance Sheet 15
Governmental Funds Statement of Revenues, Expenditures,
and Changes in Fund Balances 16
Reconciliation of the Statement of Revenues, Expenditures, and Changes
in Fund Balances of Governmental Funds to the Statement of Activities 17
Proprietary Funds Statement of Net Assets 18
Proprietary Funds Combining Statement of Revenues, Expenses, and
Changes in Fund Net Assets 20
Proprietary Funds Statement of Cash Flows 21
Fiduciary Funds Statement of Net Assets 23
Fiduciary Funds - Pension Trust Funds Statement of Changes in
Plan Net Assets 24
Notes to the Financial Statements
Index for Notes to the Financial Statements 25
Notes to the Financial Statements 28
REQUIRED SUPPLEMENTARY INFORMATION
Firefighters Pension Fund, Police Pension Fund, and Illinois
Municipal Retirement Fund - Schedules of Funding Progress 85
Firefighters and Police Pension Funds - Schedules of
Employer Contribution 86
General Fund - Schedule of Revenues, Expenditures, and Changes
in Fund Balance - Budget and Actual (Budgetary Basis) 87
Notes to the Required Supplementary Information
Firefighters and Police Pension Funds 88
INTRODUCTORY SECTION
FINANCIAL SECTION
i
CITY OF EVANSTON, ILLINOIS
Table of Contents
PAGE
Notes to the Required Supplementary Information
Digest of Changes - IMRF 88
Excess of Actual Expenditures over Budget in Individual Funds 88
GOVERNMENTAL FUND TYPES
Nonmajor Governmental Funds Combining Balance Sheet 89
onmajor Governmental Funds Combining Schedule of Revenues,
Expenditures, and Changes in Fund Balances 94
GENERAL FUND
Schedule of Revenues - Budget and Actual (Budgetary Basis) 99
Schedule of Expenditures - Budget and Actual (Budgetary Basis) 106
SPECIAL REVENUE FUNDS
Motor Fuel Tax Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis) 108
Economic Development Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis) 109
Emergency Telephone System Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis) 110
Mayor's Special Housing Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis) 111
Community Development Block Grant Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis) 112
Schedule of Expenditures - Budget and Actual (Budgetary Basis) 113
Special Service District No. 4 Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis) 116
ii
COMBINING, INDIVIDUAL FUND, AND CAPITAL ASSETS
STATEMENTS AND SCHEDULES
FINANCIAL SECTION (Continued)
CITY OF EVANSTON, ILLINOIS
Table of Contents
PAGE
Township - Town Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual 117
Township - General Assistance Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual 118
DEBT SERVICE FUNDS
All Funds
Combining Schedule of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual (Budgetary Basis) 119
PROPRIETARY FUND TYPES
Nonmajor Proprietary Funds Statement of Net Assets 121
Nonmajor Proprietary Funds Combining Statement of Revenues,
Expenses, and Changes in Fund Net Assets 123
Nonmajor Proprietary Funds Statement of Cash Flows 124
WATER FUND
Schedule of Net Assets 126
Schedule of Changes in Net Assets - Reserved - Restricted Accounts 128
Operation and Maintenance Account - Schedule of Revenues, Expenses,
and Changes in Unreserved Net Assets - Budget and Actual 129
Operation and Maintenance Account - Schedule of Operating Revenues
Budget and Actual 130
INTERNAL SERVICE FUNDS
All Funds
Statement of Net Assets 131
Combining Statement of Revenues, Expenses, and
Changes in Net Assets 132
Combining Statement of Cash Flows 133
iii
COMBINING, INDIVIDUAL FUND, AND CAPITAL ASSETS STATEMENTS AND
SCHEDULES (Continued)
CITY OF EVANSTON, ILLINOIS
Table of Contents
PAGE
CAPITAL ASSETS USED IN THE OPERATION OF GOVERNMENTAL FUNDS
Comparative Schedules by Source 135
Schedule by Function and Activity 136
Schedule of Changes by Function and Activity 138
139
140
141
143
Schedule of Insurance in Force 145
Property Tax Rates - Last Ten Levy Years 146
Property Tax Levies and Collections (City) - Last Ten Levy Years 147
Analysis of City Government Tax Levies - Last Ten Levy Years 148
Property Tax Rates per $100 - Direct and Overlapping Governments - Last Ten Levy Years 149
Equalized Assessed Valuation of Taxable Property - Last Ten Levy Years 150
Special Assessment Billings and Collections - Last Ten Levy Years 151
Ratio of Net General Obligation Bonded Debt to Equalized Assessed Valuation and
Net General Obligation Debt Per Capita (City) - Last Ten Fiscal Years 152
Schedule of Direct and Overlapping Debt (City) 153
Ratio of Annual Debt Service Expenditures for General Obligation Debt
to Total General Governmental Expenditures (City) - Last Ten Fiscal Years 154
Legal Debt Margin Information 155
Water Fund - Schedule of Revenue Bond Coverage - Last Ten Fiscal Years 156
Water Fund Revenues by Area - Last Seven Fiscal Years 157
Water Fund Pumpage by Area - Last Seven Fiscal Years 158
Water Fund - Ten Largest Water Customers 159
Water Fund - Water Allocations and Use - Projected 160
Demographic Statistics - Last Ten Fiscal Years 161
Construction Value and Property Value - Last Ten Fiscal Years 162
Principal Taxpayers - Ten Largest Taxpayers 163
Miscellaneous Statistics 164
Independent Accountants' Report on Compliance - Tax Increment Financing Districts 166
COMBINING, INDIVIDUAL FUND, AND CAPITAL ASSETS STATEMENTS AND
SCHEDULES (Continued)
iv
TAX INCREMENT FINANCING DISTRICT REQUIREMENTS
General Governmental Expenditures - By Function/Program (City Funds)
STATISTICAL SECTION (UNAUDITED)
Government-wide Expenses by Function
Government-wide Revenues
General Governmental Revenues - By Source (City Funds)
INTRODUCTORY SECTION
CITY OF EVANSTON, ILLINOIS
Principal Officials
February 28, 2006
Arthur B. Newman Joseph N. Kent
Lionel Jean-Baptiste Edmund B. Moran, Jr.
Mellisa A. Wynne Stephen B. Engelman
Steven J. Bernstein Ann Rainey
Gene Feldman
LEGISLATIVE
CITY COUNCIL
Lorraine H. Morton, Mayor
EXECUTIVE
Patricia P. Ford, Payroll Manager
v
Kevin Lookis, Revenue Manager
Julia A.Carroll, City Manager
FINANCE DEPARTMENT
Mary Rodino Kutz, Interim Finance Director and Comptroller
Bobbie Tolston, Director of Purchasing and Contracts
MAYOR
CITY COUNCIL
HEALTH AND
HUMAN SERVICES
CITY OF EVANSTON
ORGANIZATION CHART
RESIDENTS
CITY CLERK
FINANCE PUBLIC WORKS
LAW HUMAN RESOURCES
LIBRARY HUMAN RELATIONS
ADVISORY BOARDS
AND COMMISSIONS
FIRE POLICE
FACILITIES
MANAGEMENT
RECREATION, PARKS
AND FORESTRY
CITY MANAGER
COMMUNITY
DEVELOPMENT
vi
2100 Ridge Avenue
Evanston, Illinois 60201-2798
T 847.328.2100
TTY 847.328 4080
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August 15, 2006
The Honorable Mayor Lorraine H. Morton,
Members of the City Council
City of Evanston, Illinois
INTRODUCTION
The Comprehensive Annual Financial Report (CAFR) of the City of Evanston (City) for the fiscal year
ended February 28, 2006 is hereby submitted. Responsibility for both the accuracy of the data and the
completeness and fairness of the presentation, including all disclosures, rests with the City. To the best of
our knowledge and belief, 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.
2100 Ridge Avenue
Evanston, Illinois 60201-2798
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This report includes all the funds and capital assets of the City and its component unit. The Evanston
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 Miller, Cooper & Co., Ltd., 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, 2006, 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, 2006, 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 with Chicago, and only 13 miles by rapid transit, commuter rail, expressway, or
parkway from downtown Chicago. It borders the north shore communities of Skokie and Wilmette.
In 1863, the Village of Evanston was incorporated as a town and, after several annexations, in 1892, the
town became a city. The City’s southern boundary was established with the City of Chicago and the
2100 Ridge Avenue
Evanston, Illinois 60201-2798
T 847.328.2100
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present City limits, encompassing an area of approximately eight square miles, have been essentially the
same ever since. The City has four miles of shoreline along Lake Michigan.
Evanston is the home of Northwestern University, so named as it was established to serve the Northwest
Territory. The University first platted the village which surrounded it. The State Legislature named the
Village “Evanston” in honor of Dr. John Evans, the then president of the University’s Board.
About 4,000 students live in university housing; another 900 live in fraternities and sororities. Roughly
800 live in two graduate student-housing complexes and approximately 3,500 live off-campus, 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 twelve departments. The Finance Director is responsible for the central financial
functions of the City.
The City provides a broad range of municipal services, including police and fire protection, streets and
parking, water and sewer service, public libraries, social services, health and services for the aging,
beaches, parks, and cultural events. The City is engaged in assisting in community and economic
development and maintains land use controls.
Schools are provided by separate school districts, governed by elected school boards. A portion of the
City is served by the Skokie Park District. Wastewater treatment is provided by the Metropolitan Water
Reclamation District.
2100 Ridge Avenue
Evanston, Illinois 60201-2798
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Budget Process: The City’s fiscal year begins on March 1 of each year. The City Manager submits to the
City Council a proposed operating budget in December for the fiscal year commencing the following
March 1. The operating budget includes proposed expenditures and the means of financing those
expenditures. The City Council holds public hearings (four Saturday morning public hearings were held
prior to adoption of the 2006/07 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
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 2006/2007, the City projects that 46.05% ($85.7 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).
2100 Ridge Avenue
Evanston, Illinois 60201-2798
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Financial Control Procedures: The City reports financial results based on generally accepted accounting
principles as promulgated by the Governmental Accounting Standards Board. The accounts of the City are
divided into separate self-balancing funds comprised of its assets, liabilities, fund equity, revenues, and
expenditures, as appropriate.
The City’s expenditures are monitored on a regular basis by the Finance Department and Budget
Department. Disbursements are made only if an expenditure is within the authorized appropriation. For
each 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. The plan
will help focus the City over the next five years. Strategic planning determines where an
organization is going, how it is going to get there, and measures successes over time. It ensures the
most effective use of the organization’s limited resources by focusing the resources on key
priorities. The thirteen goals of the City’s Strategic Plan address these visions with objectives that
support the community’s values.
• The Sherman Plaza redevelopment is nearing completion as of the date of this letter. The City’s
new 1,500 space parking garage opened in June 2006. The garage is financed by the City’s general
obligation bonds. 160,000 square feet of retail space is expected to open this month (August 2006)
and occupancy in the 24-story condominium tower is expected to begin later this summer.
• The City is in the final construction phase of a $200 million plus sewer system rehabilitation
project that will connect the City’s sewer system with the Metropolitan Sanitary District of Greater
Chicago’s deep tunnel project.
• The 2005 Evanston Violent Crime Index is 42.5% below the national average. Reported
aggravated assaults and batteries declined 66.4% from 1995 to 2005. Reported robberies declined
59.2% between 1996 and 2005. The 2005 Crime Index is at its lowest since 1970.
• The City is in the process of developing an environmentally sensitive lakefront master plan as part
of its Strategic Plan.
• Additional 2006 initiatives include reconstruction of McCormick Boulevard, a major thoroughfare
in the City, as well as traffic signal reconfiguration on Ridge Avenue. Both projects are partially
financed through local as well as state and/or federal funding.
2100 Ridge Avenue
Evanston, Illinois 60201-2798
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FACTORS AFFECTING FINANCIAL CONDITION
The following are factors which give a broader context to the financial information contained in this CAFR
report.
Local Economy: While the City has experienced a steady economy, it continues to see an unusually
strong housing market. Building permits were 28% over budget, due to several large developments,
including Sherman Plaza. State income taxes were 15% higher than the previous year and 13% higher
than the budgeted amount. Sales tax for the fiscal year FY 2006 increased .3% from FY 2005. Much of
this can be attributed to the continued growth of condominiums and economic development in the
downtown area which continues to outpace both the state and national economies.
Long-Term Financial Planning: The City continues to complete its Long-Range Sewer plan which is a
complete overhaul of the City’s sewer system. This project will be completed in the next three years. Most
of these improvements have been funded with low interest Illinois Environmental Protection Agency
(IEPA) loans.
The City continues to have a five-year Capital Improvements Program.
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
through a state-wide plan managed by the Illinois Municipal Retirement Plan (IMRF). The City has fully
funded this plan.
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FINANCIAL SECTION
INDEPENDENT AUDITORS' REPORT
ON THE FINANCIAL STATEMENTS
FINANCIAL HIGHLIGHTS
A.
B.
C.
D.
E.
USING THIS ANNUAL REPORT
REPORTING THE CITY AS A WHOLE
Government-wide Financial Statements
The governmental activities revenue increased by $9,675,829 (or 8.29%). The expenditures increased by
$21,608,824 (or 22.55%).
The City of Evanston issued new debt in the amount of $29,270,000 during the current fiscal year. Of this
$13,060,000 for the Sherman Plaza garage construction, $10,005,000 will be used to pay for capital improvements
out of the Capital Improvement Fund.
The total cost of all City programs increased by $20,705,311 or 17.16%.
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
ur oses.
MANAGEMENT'S
DISCUSSION AND ANALYSIS
FEBRUARY 28, 2006
The City's annual report includes two government-wide financial statements. These statements provide both long-
The business-type activities revenue increased by $2,518,211 (or 7.63%). The expenditures decreased by $903,513
(or 3.63%).
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 a e vii of this re or
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 net assets increased by $20,577,968 (or 9.21%) for the fiscal year reported (FY 2006). The governmental
net assets increased by $4,756,524 (or 6.24% from Fy 2005) and the business-type activities net assets increased by
$15,821,444 (or 10.75% from FY 2005).
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The government-wide financial statements are presented on pages 11 - 14 of this report.
REPORTING THE CITY'S MOST SIGNIFICANT FUNDS
Fund Financial Statements
Governmental funds are reported in the fund financial statements and encompass essentially the same functions reported as
governmental activities in the government-wide financial statements. However, the focus is very different with fund
statements, providing a distinctive view of the City's governmental funds. These statements report short-term fiscal
accountability focusing on the use of spendable resources and balances of spendable resources available at the end of the
year. They are useful in evaluating annual financing requirements of governmental programs and the commitment o
s endable resources for the near-term.
The City has three kinds of funds:
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.
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.
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 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 rovided in this re ort.
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 rovided b the Cit 's tax a ers.
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
understandin the differences between these two ers ectives.
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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 89. Additional information on capital assets and long-term debt can be found in notes (to the financial
statements 48 and 60 res ectivel .
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 28 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 85 - 88 o
this re ort.
The basic proprietary fund financial statements are presented on pages 18 - 22 of this report.
Fiduciary funds such as the employee pension plans are reported in the fiduciary fund financial statements, but are excluded
from the government-wide reporting. Fiduciary fund financial statements report resources that are not available to fund City
rograms. Fiduciary fund financial statements report similarly to proprietary funds.
The basic fiduciary fund financial statements are presented on pages 23 - 24 of this report.
Notes to the financial statements
Proprietary funds reported in the fund financial statements generally report services for which the City charges customers a
fee. There are two kinds of proprietary funds. These are enterprise funds and internal service funds. Enterprise funds
essentially encompass the same functions reported as business-type activities in the government-wide statements. Services
such as the water utilities and the parking garages, are provided to customers external to the City organization. Internal
service funds provide services and charge fees to customers within the City organization, such as equipment services (repair
and maintenance of city vehicles) and the insurance fund. Because the City's internal service funds primarily serve
governmental functions, they are included within the governmental activities of the government-wide financial statements.
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 bud et.
The basic government fund financial statements are presented on pages 15 - 16 of this report.
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.
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Financial Analysis of the City as a Whole
2006 2005 2006 2005 2006 2005
Current and Other Assets $132,931,957 $148,165,127 $39,038,968 $35,542,196 $171,970,925 $183,707,323
Capital Assets 177,431,799 140,959,825 271,180,593 264,856,918 448,612,392 405,816,743
Total Assets 310,363,756 289,124,952 310,219,561 300,399,114 620,583,317 589,524,066
Long-Term Liabilities 132,862,214 105,722,077 119,708,579 124,190,111 252,570,793 229,912,188
Other Liabilities 96,497,745 107,155,602 27,495,360 29,014,825 123,993,105 136,170,427
Total Liabilities 229,359,959 212,877,679 147,203,939 153,204,936 376,563,898 366,082,615
Net Assets
Investment in Capital
assets, net of Debt 34,426,799 426,491 128,692,273 114,442,311 163,119,072 114,868,802
Restricted 33,745,651 32,810,919 10,449,106 11,274,326 44,194,757 44,085,245
Unrestricted 12,831,347 43,009,863 23,874,243 21,477,541 36,705,590 64,487,404
Total Net Assets $81,003,797 $76,247,273 $163,015,622 $147,194,178 $244,019,419 $223,441,451
The City's combined net assets increased by $20,577,968 from FY 2005 - an increase from $223,441,451 to $244,019,419.
STATEMENT OF NET ASSET
Total Primary GovernmentBusiness-type ActivitiesGovernmental Activities
The City's total revenues increased by $12,194,040 or 8.14%. The City's total cost of all programs was increased by
$20,705,311. Governmental activities increased due to net revenues over expenditures that added monies to the fund
reserves. The main reason for the net assets increase in business-type funds (water and sewer funds) was due to planned
accumulated increases in balances in those funds for future debt service and ca ital ro ects.
Governmental Funds: The governmental activities experienced a net increase of $4,756,524. This was mainly due to a
surplus in the General Fund of revenues over expenditures and settlement of some major liabilities in the Insurance Fund.
Increased accumulations of nonmajor governmental funds is due to high interest rates on investments and a surplus in
revenues over ex enditures.
Business Funds: The business-type activities experienced a net increase in net assets of $15,821,444. Most of the increase
is attributable to the continued planned surpluses in the Sewer and Water Funds. The Sewer Fund increase is due to the
need to accumulate cash to pay off future years' debt service on the over $100 million in Illinois Environmental Protection
Agency (IEPA) loans the City has outstanding which have paid for the complete overhaul of the City's sewer system. The
Water Fund continues to generate sufficient funds to subsidize the General Fund and pay for its accumulated depreciation.
In spring 2005, demolition and construction began on the Sherman Plaza project. This project includes a new parking
facility as well as high rise condominium and retail space. The Sherman Plaza parking facility will be finished and in
o eration on June 2006.
-6-
2006 2005 2006 2005 2006 2005
Revenue
Program Revenues:
Charges for services $27,663,692 $26,246,493 $34,626,625 $32,623,801 $62,290,317 $58,870,294
Operating grants and
contributions 3,440,889 3,713,201 3,440,889 3,713,201
Capital grants and
contributions 1,126,610 212,000 1,126,610 212,000
General Revenues:
Sales taxes 14,096,471 13,984,119 14,096,471 13,984,119
Property taxes 46,177,463 38,738,232 46,177,463 38,738,232
Utility taxes 8,858,217 8,397,773 8,858,217 8,397,773
Other taxes 22,090,240 23,935,340 22,090,240 23,935,340
Investment income 2,996,804 1,547,399 896,246 380,859 3,893,050 1,928,258
Total Revenue 126,450,386 116,774,557 35,522,871 33,004,660 161,973,257 149,779,217
Expenses
General management and
support 19,536,566 14,450,761 19,536,566 14,450,761
Public safety 45,950,611 31,167,640 45,950,611 31,167,640
Public works 14,631,723 14,224,855 14,631,723 14,224,855
Health and human
resources development 4,781,198 5,843,522 4,781,198 5,843,522
Recreation and cultural
opportunities 19,791,683 18,276,621 19,791,683 18,276,621
Housing and economic
development 6,850,300 6,757,476 6,850,300 6,757,476
Interest 5,874,030 5,086,412 5,874,030 5,086,412
Water 8,759,592 8,175,691 8,759,592 8,175,691
Sewer 9,219,174 8,781,361 9,219,174 8,781,361
Maple avenue garage 3,096,444 3,148,145 3,096,444 3,148,145
Motor vehicle parking
system 2,903,968 4,777,494 2,903,968 4,777,494
Total Expense 117,416,111 95,807,287 23,979,178 24,882,691 141,395,289 120,689,978
Increase in net assets before
transfer 9,034,275 20,967,270 11,543,693 8,121,969 20,577,968 29,089,239
Transfers (4,277,751) (1,243,758)4,277,751 1,243,758
Increase in net assets 4,756,524 19,723,512 15,821,444 9,365,727 20,577,968 29,089,239
Net Assets - Beginning 76,247,273 56,523,761 147,194,178 137,828,451 223,441,451 194,352,212
et Assets - Endin $81,003,797 $76,247,273 $163,015,622 $147,194,178 $244,019,419 $223,441,451
Governmental Activities
STATEMENT OF CHANGES IN NET ASSET
The following table provides a summary of the City's changes in net assets:
Business-type Activities Total Primary Government
-7-
Financial Analysis of the City's Funds
Governmental Funds
Proprietary 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 $1,673,971. These increases are due to revenues significantly exceeding budgeted
levels. The expenditures were slightly above budgeted levels and were maintained near budget due to monitoring o
monthly budget reports and a concerted effort to reduce overtime expenditures. The revenue increase was due to record
levels of real estate activity in Evanston which resulted in high real estate transfer tax revenues, building permit revenues,
utility taxes revenues, and increases in sales tax. State shared revenues, such as income taxes and use taxes, continued to
have solid increases as the economy starts to recover. The City Council has been diligent in assuring that one-time,
nonrecurring revenues are not inserted into the operating budget. Additionally, the increase in the General Fund cash
balance to a level of 10% has been achieved during the last three years. This, again, was a policy objective set by the City
Council that has been achieved durin less than ideal economic conditions.
The City's combined internal service funds net assets were $2,853,763 as of February 28, 2006. At March 1, 2005, the
combined funds had a balance of $216,477.
The combined governmental funds:Have combined fund balances of $63,660,726, an increase of $3,378,014 from prior
year ($60,282,712). The increase was due to property taxes, hotel taxes, and amusement taxes received in FY2006.
The proprietary fund statements share the same focus as the government-wide statements, reporting both short-term and long
term information about financial status.
Major Proprietary Funds
Internal Service Funds
The main proprietary funds operated by the City are the Water, Sewer, and Parking Funds. The Water Fund remains stable
without need for rate changes and are supported by external water sales to the Village of Skokie and the Northwest Water
Commission. The Sewer Fund is in the final stages of the $200 million plus sewer renovation program which is being
funded by IEPA loans that are being paid off over twenty years. The Motor Vehicle Parking system has a surplus o
$136,087 as of Februar 28, 2006 due to increased arkin rates in the 2006 fiscal ear.
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 $95,635,375 as a year-end total,
including $23,654,784 unrestricted, indicating availability for continuing City service requirements. Reserved fund balances
include $62,643 committed to liquidate encumbrances remaining from prior years, $2,590,000 committed to Illinois
Municipal Retirement Fund (IMRF) reserves, $2,576,360 committed to pay compensated absences, and $798,417
committed to other activities.
The Washington National Tax Increment District Fund has a fund balance of $7,143,095, a decrease of $18,059,717 due to
the continuous construction of Sherman Plaza Garage.
The total ending balances of governmental funds show a decrease of $13,007,732 from the prior year. The decrease is
primarily the result of continuing Sherman Garage construction and demolition activities.
Major Governmental Funds
-8-
General Fund Budgetary Highlights
Capital Assets
Long-Term Debt
Bond Ratings
conomic Factors
While the state's unemployment rate continues to be about 5.5% Evanston's is closer to 4.5%. Both state and Evanston sales
tax increased in fiscal 2006. The City's housing market continued to boom with the largest year ever in real estate transfer
tax receipts of over $4 million. For the sixth year in a row, the General Fund balance increased.
The City's population increased 1.37% on the 2000 census to 74,239 over the last decade. Increased multi-family
development in the last three years indicated that the number should continue to increase.
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, 2006, was $448,612,392. The total increase
in this net investment was 26% for governmental and 2.0% for business-type activities. The overall increase was 10.5% 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.
At the end of the fiscal year, the City had total bonded debt outstanding of $195,875,000. Of this amount, $79,111,196 is
funded directly from property taxes. The other major component is $110,212,500, 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 $29.270 million in fixed rate general obligation bonds for capital improvement, the Sherman
Plaza project, and to partially refund 1998 bonds. As a home rule government under Illinois law, there is no legal debt limit
for the City. Readers desiring more detailed information on long-term debt should see Note 9 in the Notes to the Financial
Statements.
The City's general obligation bonds are rated Aaa and VIMG-1 by Moody's Investor Rating Service and AAA by Fitch
Ratings. Evanston City Water Fund revenue bonds are rated Aa1 and AA for uninsured issues. 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 ara e ro ect.
The Evanston economy continues to hold firm in spite of a state economy that continues to lag. Fiscal 2006 revenues were
nearly 4.5% up from fiscal 2005, according to Illinois State Comptroller Dan Hynes.
The Water Fund continues to generate $6,684,309 in cash flows from operating activities due to the sale of water to the
Village of Skokie and the villages in the Northwest Water Commission. The City notified the Northwest Water Commission
that it is exercising the right to reopen the long-term contract. Negotiations are ongoing. Half of the revenue is used to
subsidize the General Fund and the remainder is used to finance capital improvements. The Sewer Fund is in the final stages
of com letin an over $200 million sewer im rovement ro ram.
The original budgets for the General Fund and other funds did not have to be amended this year. Actual expenditures in the
General Fund slightly exceeded budgeted levels due to overtime expenditures in the Fire Department and several retirements
in the Police Department.
-9-
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.cit ofevanston.or
-10-
BASIC FINANCIAL STATEMENTS
THIS PAGE INTENTIONALLY LEFT BLANK
CITY OF EVANSTON, ILLINOIS
Statement of Net Assets
Governmental Business-type
Activities Activities Total
Cash and equivalents $ 40,401,782 $ 5,703,164 $ 46,104,946
Investments 37,252,481 2,994,865 40,247,346
Receivables (net, where applicable,
of allowances for uncollectibles)
Property taxes 39,405,095 - 39,405,095
Accounts 95,220 4,550,915 4,646,135
Notes 6,155,871 - 6,155,871
Special assessments 769,274 - 769,274
Accrued interest 159,818 90,434 250,252
Other 1,847,709 32,173 1,879,882
Due from other governments 6,359,177 - 6,359,177
Due from other agency 4,488 - 4,488
Internal balances 200,065 (200,065) -
Inventories 280,977 660,175 941,152
Restricted assets
Cash and equivalents and investments - 24,898,307 24,898,307
Capital assets
Capital assets not being depreciated 25,252,516 3,297,937 28,550,453
Construction in progress 41,657,942 18,279,118 59,937,060
Capital assets (net of accumulated
depreciation) 110,521,341 249,603,538 360,124,879
Other assets - 309,000 309,000
Total Assets $ 310,363,756 $ 310,219,561 $ 620,583,317
The accompanying notes are an integral part of this statement.
February 28, 2006
Primary Government
Assets
- 11 -
Governmental Business-type
Activities Activities Total
Vouchers payable $ 5,374,776 $ 740,832 $ 6,115,608
Accrued payroll 1,307,488 94,860 1,402,348
Interest payable - 48,897 48,897
Other payables 138,443 - 138,443
Due to other governments 93,855 - 93,855
Due to pension funds 3,288,349 - 3,288,349
Payable from restricted assets
Vouchers payable - 2,163,820 2,163,820
Interest payable - 1,113,221 1,113,221
Unearned revenues 26,342,499 - 26,342,499
Noncurrent liabilities
Payable from restricted assets - due
within one year - 8,703,074 8,703,074
Due within one year 59,952,335 14,630,656 74,582,991
Due in more than one year 132,862,214 119,708,579 252,570,793
Total Liabilities 229,359,959 147,203,939 376,563,898
Investment in capital assets, net of related debt 34,426,799 129,083,940 163,510,739
Restricted
Pensions - IMRF 2,590,000 - 2,590,000
Culture and recreation 581,990 - 581,990
Debt service 27,780,874 10,449,106 38,229,980
Other 216,427 - 216,427
Unrestricted 15,407,707 23,482,576 38,890,283
Total Net Assets $ 81,003,797 $ 163,015,622 $ 244,019,419
Primary Government
Liabilities
Net Assets
- 12 -
CITY OF EVANSTON, ILLINOIS
Statement of Activities
Functions/Programs
Governmental activities:
General management and support $ 19,536,566 $ 13,060,396 $ 150,624
Public safety 45,950,611 428,613 26,372
Public works 14,631,723 168,644 2,252,320
Health and human resource development 4,781,198 1,158,983 964,133
Recreation and cultural opportunities 19,791,683 4,310,449 47,440
Housing and economic development 6,850,300 8,536,607 -
Interest 5,874,030 - -
Total governmental activities 117,416,111 27,663,692 3,440,889
Business-type activities:
Water 8,759,592 13,961,436 -
Sewer 9,219,174 16,077,170 -
Maple avenue garage fund 3,096,444 1,622,575 -
Motor vehicle parking system 2,903,968 2,965,444 -
Total business-type activities 23,979,178 34,626,625 -
Total primary governmen $ 141,395,289 $ 62,290,317 $ 3,440,889
General revenues:
Property and other taxes
Gain on sale of capital assets
Miscellaneous
Investment incom
Transfers
Total general revenues and transfers
Change in net assets
Net assets - beginning
et assets - endin
The accompanying notes are an integral part of this statement.
- 13 -
Expenses Services Contributions
Charges for Grants and
Year ended February 28, 2006
Program Revenues
Operating
$ 648,910 $ (5,676,636) $ - $ (5,676,636)
- (45,495,626) - (45,495,626)
- (12,210,759) - (12,210,759)
- (2,658,082) - (2,658,082)
477,700 (14,956,094) - (14,956,094)
- 1,686,307 - 1,686,307
- (5,874,030) - (5,874,030)
1,126,610 (85,184,920) - (85,184,920)
- - 5,201,844 5,201,844
- - 6,857,996 6,857,996
- - (1,473,869) (1,473,869)
- - 61,476 61,476
- - 10,647,447 10,647,447
$ 1,126,610 (85,184,920) 10,647,447 (74,537,473)
89,810,392 - 89,810,392
68,950 - 68,950
1,343,049 - 1,343,049
2,996,804 896,246 3,893,050
(4,277,751) 4,277,751 -
89,941,444 5,173,997 95,115,441
4,756,524 15,821,444 20,577,968
76,247,273 147,194,178 223,441,451
$ 81,003,797 $ 163,015,622 $ 244,019,419
Total
- 14 -
Business-type
Contributions Activities Activities
Grants and Governmental
Net (Expense) Revenue and
Capital Changes in Net Assets
CITY OF EVANSTON, ILLINOIS
Governmental Funds
Balance Sheet
Washington
National
Tax Nonmajor Total
Increment Governmental Governmental
General District Funds Funds
Cash and equivalents 8,969,943$ 5,013,386$ 26,285,028$ 40,268,357$
Investments 8,954,247 3,994,526 23,333,176 36,281,949
Receivables
Property taxes (net of allowance) 14,226,522 - 25,178,573 39,405,095
Accounts - - 95,220 95,220
Notes - - 6,155,871 6,155,871
Special assessments - - 769,274 769,274
Accrued interest 66,343 - 93,475 159,818
Other 1,628,327 - 199,357 1,827,684
Due from other governments 6,063,406 - 295,771 6,359,177
Due from other funds 1,480,988 7,063 2,162,238 3,650,289
Total Assets 41,389,776$ 9,014,975$ 84,567,983$ 134,972,734$
Liabilities
Vouchers payable 2,450,860$ 1,871,876$ 787,647$ 5,110,383$
Accrued payroll 1,268,681 - 14,470 1,283,151
Compensated absences payable 338,417 - - 338,417
Other 136,458 - 1,985 138,443
Due to other governments 26,390 - 67,465 93,855
Due to other funds 2,910,032 4 3,120,575 6,030,611
Unearned revenues 9,427,384 - 16,915,115 26,342,499
Total Liabilities 16,558,222 1,871,880 20,907,257 39,337,359
Fund Balances
Reserved 6,027,420 - 33,936,745 39,964,165
Unreserved
Capital project funds 320,196 7,143,095 24,553,135 32,016,426
Special revenue funds - - 5,170,846 5,170,846
General fund 18,483,938 - - 18,483,938
Total Fund Balances 24,831,554 7,143,095 63,660,726 95,635,375
Total Liabilities and Fund Balances 41,389,776$ 9,014,975$ 84,567,983$
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.170,354,102
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. (187,839,443)
The net assets of the internal service fund are included in the governmental activities in the
statement of net assets.2,853,763
Net assets of governmental activities 81,003,797$
The accompanying notes are an integral part of this statement.
February 28, 2006
Assets
Liabilities and Fund Balances
- 15 -
CITY OF EVANSTON, ILLINOIS
Governmental Funds
Statement of Revenues, Expenditures, and Changes in Fund Balance
Washington
National
Tax Nonmajor Total
Increment Governmental Governmental
General District Funds Funds
Revenues
Taxes 41,910,555$ -$ 33,750,523$ 75,661,078$
Licenses and permits 9,164,065 - - 9,164,065
Special assessments - - 545,655 545,655
Intergovernmental 15,254,462 - 5,851,938 21,106,400
Charges for services 6,904,796 - - 6,904,796
Fines and forfeits 3,781,020 - - 3,781,020
Investment income 575,281 740,966 1,653,547 2,969,794
Miscellaneous 4,387,070 - 1,425,324 5,812,394
Total Revenues 81,977,249 740,966 43,226,987 125,945,202
Expenditures
Current
General management and support 13,905,339 345,738 1,350,004 15,601,081
Public safety 29,912,381 - 9,182,154 39,094,535
Public works 11,687,269 - 1,554,835 13,242,104
Health and human resource development 4,565,684 - - 4,565,684
Recreation and cultural opportunities 16,408,586 - 117,000 16,525,586
Housing and economic development 2,904,682 - 3,740,953 6,645,635
Pensions 4,627,930 - - 4,627,930
Debt service
Principal - - 7,690,000 7,690,000
Interest - - 5,856,892 5,856,892
Fiscal agent fees - - 322,825 322,825
Capital outlay - 32,373,714 9,712,853 42,086,567
Total Expenditures 84,011,871 32,719,452 39,527,516 156,258,839
Excess (Deficiency) of Revenues
Over (Under) Expenditures (2,034,622) (31,978,486) 3,699,471 (30,313,637)
Other Financing Sources (Uses)
Transfers in 4,966,843 5,347 2,060,108 7,032,298
Transfers out (1,258,250) - (13,174,149) (14,432,399)
Capitalized interest income - - 354,581 354,581
Capitalized interest expense - - (354,581) (354,581)
Issuance of debt - 13,060,000 16,210,000 29,270,000
Premiums and discounts - 853,422 1,208,973 2,062,395
Escrow funding - - (6,626,389) (6,626,389)
Total Other Financing Sources (Uses) 3,708,593 13,918,769 (321,457) 17,305,905
Net Change in Fund Balances 1,673,971 (18,059,717) 3,378,014 (13,007,732)
Fund Balances -Beginning of Year 23,157,583 25,202,812 60,282,712 108,643,107
Fund Balances - End of Year 24,831,554$ 7,143,095$ 63,660,726$ 95,635,375$
The accompanying notes are an integral part of this statement.
Year ended February 28, 2006
- 16 -
CITY OF EVANSTON, ILLINOIS
Amounts reported for governmental activities in the statement of activities are different because:
Net change in fund balances - total governmental funds $ (13,007,732)
35,554,082
14,040,000
(31,332,395)
(3,134,717)
Internal service funds are reported separately in the fund financial statements. 2,637,286
Change in net assets of governmental activitie $ 4,756,524
The accompanying notes are an integral part of this statement.
- 17 -
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
ex ense. This is the amount b which ca ital outla s exceeded de reciation in the current eriod.
The repayment of the principal of long-term debt consumes the current financial resources o
governmental funds. These transactions, however, have no effect on net assets.
Issuance of 2005 Bonds provides current financial resources to governmental funds, while the
repayment of the principal of long term debt consumes the current financial resources o
governmental funds. Neither transaction has any effect on net assets. Governmental funds also
re ort the effect of bonds remiums discounts and similar items when debt is first issued.
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.
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances
of Governmental Funds to the Statement of Activities
Year ended February 28, 2006
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CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Statement of Net Assets
Governmental
Activities-
Nonmajor Internal
Proprietary Service
Water Sewer Funds Total Funds
Current Assets
Cash and equivalents 442,062$ -$ 5,261,102$ 5,703,164$ 133,425$
Investments - - 2,994,865 2,994,865 970,532
Restricted cash and equivalents
and investments 479,365 10,709,549 - 11,188,914 -
Receivables
Accounts - billed 1,052,876 412,352 - 1,465,228 -
Accounts - unbilled 864,508 2,221,179 - 3,085,687 -
Accrued interest - 64,901 25,533 90,434 -
Other 20,487 - 11,686 32,173 20,025
Due from other funds 277 11,906 60,070 72,253 281,650
Inventories 527,163 133,012 - 660,175 280,977
Total Current Assets 3,386,738 13,552,899 8,353,256 25,292,893 1,686,609
Noncurrent Assets
Restricted cash and equivalents
and investments 10,582,066 3,127,327 - 13,709,393 -
Capital Assets
Land 555,415 - 2,742,522 3,297,937 -
Construction in progress 1,027,973 17,251,145 - 18,279,118 -
Capital assets being depreciated 58,187,210 198,922,455 35,626,757 292,736,422 19,766,744
Less accumulated depreciation (14,127,102) (22,822,798) (6,182,984) (43,132,884) (12,689,047)
Total Capital Assets 45,643,496 193,350,802 32,186,295 271,180,593 7,077,697
Other Assets
Receivables
Notes - - 309,000 309,000 -
Total Noncurrent Assets 56,225,562 196,478,129 32,495,295 285,198,986 7,077,697
Total Assets 59,612,300$ 210,031,028$ 40,848,551$ 310,491,879$ 8,764,306$
The accompanying notes are an integral part of this statement.
February 28, 2006
Business-type Activities- Enterprise Funds
Assets
- 18 -
Governmental
Activities-
Nonmajor Internal
Proprietary Service
Water Sewer Funds Totals Funds
Current Liabilities
Vouchers payable 291,543$ 229,220$ 220,069$ 740,832$ 264,393$
Vouchers payable - restricted 376,850 1,786,970 - 2,163,820 -
Accrued payroll 60,576 17,137 17,147 94,860 24,337
Interest payable - - 48,897 48,897 -
Interest payable - restricted 24,182 1,089,039 - 1,113,221 -
Revenue bonds payable 391,667 - - 391,667 -
Revenue bonds payable - restricted 78,333 - - 78,333 -
Compensated absences payable 387,900 79,131 108,357 575,388 102,575
General obligation bonds payable - - 13,685,000 13,685,000 -
General obligation bonds payable - restricted - 2,050,000 - 2,050,000 -
Unamortized bond expenses and discount - - (21,399) (21,399) -
Claims payable - - - - 862,114
Notes payable - Sewer IEPA Loans - restricted - 6,574,741 - 6,574,741 -
Due to other funds 28,863 230,277 13,178 272,318 985,124
Total Current Liabilities 1,639,914 12,056,515 14,071,249 27,767,678 2,238,543
Long-Term Liabilities
Notes payable - Sewer IEPA Loans - 94,825,934 - 94,825,934 -
General obligation bonds payable - 18,520,000 3,130,000 21,650,000 -
Revenue bonds payable 3,240,000 - - 3,240,000 -
Unamortized bond expenses and discount 18,064 (25,419) - (7,355) -
Claims payable - - - - 3,672,000
Total Long-Term Liabilities 3,258,064 113,320,515 3,130,000 119,708,579 3,672,000
Total Liabilities 4,897,978 125,377,030 17,201,249 147,476,257 5,910,543
Invested in capital assets, net of
related debt 42,307,099 71,405,546 15,371,295 129,083,940 7,077,697
Restricted for debt service 10,449,106 - - 10,449,106 -
Unrestricted 1,958,117 13,248,452 8,276,007 23,482,576 (4,223,934)
Total net assets 54,714,322$ 84,653,998$ 23,647,302$ 163,015,622$ 2,853,763$
Business-type Activities- Enterprise Funds
Liabilities
Net Assets
- 19 -
CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Combining Statement of Revenues, Expenses, and Changes in Fund Net Assets
Governmental
Activities-
Nonmajor Internal
Proprietary Service
Water Sewer Funds Total Funds
Operating Revenues
Charges for services 13,475,577$ 16,027,055$ 4,575,637$ 34,078,269$ 6,614,300$
Miscellaneous 485,859 50,115 12,382 548,356 27,661
Total Operating Revenues 13,961,436 16,077,170 4,588,019 34,626,625 6,641,961
Operating Expenses Excluding Depreciation
Administration 634,737 - 1,052,335 1,687,072 -
Operations 6,071,128 2,130,179 3,285,828 11,487,135 6,476,989
Total Operating Expenses
Excluding Depreciation 6,705,865 2,130,179 4,338,163 13,174,207 6,476,989
Operating Income (Loss) Before Depreciation 7,255,571 13,946,991 249,856 21,452,418 164,972
Depreciation 1,345,848 2,665,388 844,028 4,855,264 1,388,947
Operating Income (Loss) 5,909,723 11,281,603 (594,172) 16,597,154 (1,223,975)
Nonoperating Revenues (Expenses)
Investment income 419,530 300,856 175,860 896,246 27,010
Interest expense (171,977) (4,125,309) (803,662) (5,100,948) (17,138)
Bond expenses and amortization of discount (1,401) (6,648) (14,559) (22,608) -
Gain (loss) on disposition of assets (242,851) - - (242,851) 145,739
Total Nonoperating Revenues (Expenses) 3,301 (3,831,101) (642,361) (4,470,161) 155,611
Income (Loss) Before Transfers 5,913,024 7,450,502 (1,236,533) 12,126,993 (1,068,364)
Transfers In (Out)
Central Business Tax Increment District Fund 268,449 899,602 4,500,000 5,668,051 51,650
Insurance Fund (3,300,000) - - (3,300,000) -
Fleet Fund - (230,000) - (230,000) -
Capital Improvement Fund 3,300,000 - - 3,300,000 105,000
Water Fund - - - - 3,300,000
Sewer Fund - - - - 230,000
Economic Development Fund - - 650,000 650,000 -
General Fund (2,693,600) - 300,000 (2,393,600) 19,000
Total Transfers In (Out) (2,425,151) 669,602 5,450,000 3,694,451 3,705,650
Change in Net Assets 3,487,873 8,120,104 4,213,467 15,821,444 2,637,286
Total Net Assets - Beginning of Year 51,226,449 76,533,894 19,433,835 147,194,178 216,477
Total Net Assets - End of Year 54,714,322$ 84,653,998$ 23,647,302$ 163,015,622$ 2,853,763$
The accompanying notes are an integral part of this statement.
Year ended February 28, 2006
Business-type Activities- Enterprise Funds
- 20 -
CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Statement of Cash Flows
Governmental
Activities-
Nonmajor Internal
Proprietary Service
Water Sewer Funds Total Funds
Cash Flows from Operating Activities
Receipts from customers and users 14,011,895$ 15,940,864$ 4,561,852$ 34,514,611 6,649,928$
Receipts from interfund services provided 348,296 (7,237) 71,571 412,630 (281,406)
Payments to suppliers (5,821,382) (764,321) (3,196,571) (9,782,274) (12,625,001)
Payments to employees (546,398) 9,925 (1,011,149) (1,547,622) (1,982,462)
Payments for interfund services provided (1,308,102) - (142,384) (1,450,486) 978,190
Net Cash Provided by (Used for) Operating Activities 6,684,309 15,179,231 283,319 22,146,859 (7,260,751)
Cash Flows from Noncapital Financing Activities
Transfers In (Out)
Central Business Tax Increment District Fund 268,449 899,602 4,500,000 5,668,051 51,650
Insurance Fund (3,300,000) - - (3,300,000) -
Fleet Fund - (230,000) - (230,000) -
Capital Improvement Fund 3,300,000 - - 3,300,000 105,000
Water Fund - - - - 3,300,000
Sewer Fund - - - - 230,000
Economic Development Fund - - 650,000 650,000 -
General Fund (2,693,600) - 300,000 (2,393,600) 19,000
Net Cash Provided by (Used for) Noncapital Financing Activities (2,425,151) 669,602 5,450,000 3,694,451 3,705,650
Cash Flows from Capital and Related Financing Activities
Sale of capital assets - - - - 152,196
Acquisition and construction of capital assets (3,119,850) (8,352,942) 51,000 (11,421,792) (2,313,297)
Principal paid on revenue bonds (865,000) - - (865,000) -
Interest paid on revenue bonds (177,355) - - (177,355) -
Principal paid on general obligation bonds - (1,925,000) (4,345,000) (6,270,000) (450,000)
Interest paid on general obligation bonds - (1,276,080) (803,662) (2,079,742) (22,850)
Principal paid on IEPA loans - (5,975,259) - (5,975,259) -
Interest paid on IEPA loans - (2,849,228) - (2,849,228) -
Proceeds from IEPA loans - 5,175,923 - 5,175,923 -
Net Cash (Used for) Capital and Related Financing Activities (4,162,205) (15,202,586) (5,097,662) (24,462,453) (2,633,951)
Cash Flows from Investing Activities
Proceeds from sales and maturities of investments - - - - 10,300,000
Purchase of investments - - - - (4,227,010)
Interest income 419,530 300,856 175,860 896,246 27,010
Net Cash Provided by Investing Activities 419,530 300,856 175,860 896,246 6,100,000
Net Increase (Decrease) in Cash and Equivalents 516,483 947,103 811,517 2,275,103 (89,052)
Cash and Equivalents
Beginning of year 10,987,010 12,889,773 7,444,450 31,321,233 222,477
End of yea 11,503,493$ 13,836,876$ 8,255,967$ 33,596,336$ 133,425$
Reconciliation
Cash and equivalents
Unrestricted 921,427$ 10,709,549$ 8,255,967$ 19,886,943$ 133,425$
Restricted 10,582,066 3,127,327 - 13,709,393 -
11,503,493$ 13,836,876$ 8,255,967$ 33,596,336$ 133,425$
The accompanying notes are an integral part of this statement.
Continued
Year ended February 28, 2006
Business-type Activities- Enterprise Funds
- 21 -
CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Statement of Cash Flows - Continued
Governmental
Activities-
Nonmajor Internal
Proprietary Service
Water Sewer Funds Total Funds
Reconciliation of Operating Income (Loss) to Net Cash Provided
by (Used for) Operating Activities
Operating income (loss) 5,909,723$ 11,281,603$ (594,172)$ 16,597,154$ (1,223,975)$
Depreciation 1,345,848 2,665,388 844,028 4,855,264 1,388,947
Changes in assets and liabilities
Other receivables (20,487) - (634) (21,121) 7,967
Accounts receivable 70,946 (89,875) - (18,929) -
lnterfund receivable 348,296 (7,237) 71,571 412,630 (281,406)
Inventories (47,699) (433) - (48,132) (26,543)
Accrued interest receivable - (46,431) (25,533) (71,964) -
Compensated absences 76,579 7,682 36,891 121,152 2,556
Accrued payroll 11,760 2,243 4,295 18,298 1,766
lnterfund payable (1,308,102) - (142,384) (1,450,486) 978,190
lnterfund payable (restricted) - (23,668) - (23,668) -
Vouchers payable (68,776) 195,873 96,313 223,410 79,156
Vouchers payable (restricted) 366,221 1,172,250 - 1,538,471 -
Interest payable - 21,836 (7,056) 14,780 -
Claims payable - - - - (8,162,670)
Due to other governments - - - - (24,739)
Net Cash Provided by (Used for) Operating Activities 6,684,309$ 15,179,231$ 283,319$ 22,146,859$ (7,260,751)$
The accompanying notes are an integral part of this statement.
Business-type Activities- Enterprise Funds
- 22 -
Year ended February 28, 2006
CITY OF EVANSTON, ILLINOIS
Fiduciary Funds
Statement of Net Assets
Special Assessmen
Pension Agency
Trust Funds Fund
Assets
Cash and short-term investments 15,830,112$ 21,073$
Receivables
Accrued interest 279,071 -
Due from other funds 3,288,349 -
Total Receivables 3,567,420 -
Investments, at fair value
U.S. Government obligations 37,923,588 -
Common stock 6,141,193 -
Mutual funds 35,595,129 -
Total Investments 79,659,910 -
Total Assets 99,057,442 21,073
Liabilities
Vouchers payable 3,162 -
Due to special assessment bondholders - 21,073
Total Liabilities 3,162 21,073
et assets held in trus 99,054,280$ -$
The accompanying notes are an integral part of this statement.
February 28, 2006
- 23 -
CITY OF EVANSTON, ILLINOIS
Fiduciary Funds - Pension Trust Funds
Statement of Changes in Plan Net Assets
Pension
Trust Funds
Additions
Contributions
Employer 7,930,740$
Plan members 1,764,322
Total contributions 9,695,062
Investment income
Net appreciation in
fair value of investments 3,433,599
Interest 2,482,993
Total investment income 5,916,592
Less investment expense 256,261
Net investment income 5,660,331
Total additions 15,355,393
Deductions
Benefits 9,758,097
Refunds of contributions 81,538
Administrative expense 58,814
Total deductions 9,898,449
Net increase 5,456,944
Net assets held in trust for pension benefits
Beginning of year 93,597,336
End of yea 99,054,280$
The accompanying notes are an integral part of this statement.
Year ended February 28, 2006
- 24 -
CITY OF EVANSTON, ILLINOIS
Index for Notes to the Financial Statements
Note 1. Summary of Significant Accounting Policies Page
A. Reporting Entity 28
B. Government-wide and Fund Financial Statements 29
C. Fund Accounting 30
D. Measurement Focus, Basis of Accounting, and Financial Statement Presentation 31
E. Cash and Equivalents 34
F. Investments 34
G. Inventories 34
H. Capital Assets 34
I. Compensated Absences 35
J. Long-Term Obligations 35
K. Self-Insurance 36
L. Property Taxes 36
M. Fund Equity 37
N. Interfund Transactions 37
O. Use of Estimates 37
Note 2. Reconciliation of Government-wide and Fund Financial Statements
A.
38
B.
38
Note 3. Stewardship, Compliance, and Accountability
A. Budgetary Information 40
B. Deficit Fund Equity 42
Note 4. Deposits with Financial Institutions and Investments
A. Types of Accounts and Securities 42
B. Pooling of Cash and Investments 42
C. Types of Investments 43
D. Deposits 45
E. Reconciliation of Unrestricted and Restricted Cash and Investments 45
Explanation of Certain Differences between the Governmental Fund Balance
Sheet and the Government-wide Statement of Net Assets
Explanation of Certain Differences between the Governmental Fund Statement
of Revenues, Expenditures, and Changes in Fund Balances and the Government-
wide Statement of Activities
-25-
CITY OF EVANSTON, ILLINOIS
Index for Notes to the Financial Statements
(continued from previous page)
Note 5. Receivables
A. Summary of Receivables 47
B. Notes Receivable – Special Revenue Funds 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
Note 8. Operating Leases 59
Note 9. Long-Term Debt
A. Changes in Long-Term Debt 60
B. General Obligation Bonds Payable 62
C. Special Service District Bonds Payable 63
D. Revenue Bonds Payable 64
E. Notes Payable – Sewer IEPA Loans 64
F. Prior Years' General Obligation Bond Defeasances 65
G. Prior Years' Special Service District #5 Bond Defeasances 65
Note 10. Fund Equity
A. Restrictions of Retained Earnings - Water Fund 66
B. Restrictions of Fund Equity 67
C. 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
-26-
CITY OF EVANSTON, ILLINOIS
Index for Notes to the Financial Statements
(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 76
B. Funding Status and Progress 77
C. Annual Pension Cost 77
Police and Firefighters' Pension Plans
D. Plan Descriptions 79
E. Summary of Significant Accounting Policies
- Basis of Accounting 80
- Method Used to Value Investments 80
F. Contributions and Reserves 80
G. Concentration of Investments 81
H. Three-Year Trend Information – Pension Trust Funds 82
I. Pensions - Detailed Statement of Net Assets 83
J. Pensions - Detailed Statement of Changes in Net Assets 84
-27-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The more significant of the City's accounting policies are described below.
A. Reporting Entity
Blended Component Unit:
The City was incorporated in 1863. The City operates under a Council-Manager form of government,is a home
rule municipalityas definedby Illinoisstate law, and provides the followingservices as authorized by its charter:
general management and support, public safety, public works, health and human resource development,
recreational and cultural opportunities, and housing and economic development.
As required by GAAP, these financial statements present the City (the primary government)and its component
unit, an entity for which the City is considered to be financially accountable. Although the component unit is
legally a separate entity, it is governed by the same board; therefore, data from this unit is blended with data of
the City.
The financial statements of the City of Evanston (City) have been prepared in conformity with accounting
principles generally accepted in the United States of America as applied to governmental units (hereinafter
referred to as generally accepted accounting principles (GAAP)). The Governmental Accounting Standards
Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial
reporting principles.
The 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 individualsas 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
responsiblefor Township funds and for the administrationof 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.
-28-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
A. Reporting Entity - Continued
Complete financial statements for the Township may be obtained at the following address:
Town of the City of Evanston
1910 Main Street
Evanston, Illinois 60201
Joint Ventures:
B. Government-wide and Fund Financial Statements
The statement of activities demonstrates the degree to which the direct expenses of a given function or segment
are offset by program revenues. Direct expenses are those that are clearly identifiablewith a specific function or
segment. Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit
from goods, services, or privileges provided by a given function or segment and 2) grants and contributions that
are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and
other items not properly included among program revenues are reported instead as general revenues.
The City participates in three joint ventures, which are reported as nonequitygovernmentaljoint 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.
The government-widefinancial statements (i.e., the statement of net assets and the statement of activities) report
informationon all of the nonfiduciaryactivities of the City. For the most part, the effect of interfund activity has
been removed from these statements. Governmental activities, which normally are supported by taxes and
intergovernmental revenues, are reported separately from business-type activities, which rely to a significant
extent on fees and charges for support.
The Township is includedin 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, 2005. This report is the most
recent one available.
-29-
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
C. Fund Accounting
Separate financial statements are provided for governmentalfunds, proprietary funds, and fiduciary funds, even
though the latter are excluded from the government-widefinancial 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.
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 projects funds), and the servicingof general long-termdebt (debt service funds). The general fund
is used to account for all activities of the City not accounted for in some other fund. All Township funds are
considered special revenue funds within the governmental funds category.
Fiduciary funds are used to account for assets held on behalf of outside parties, includingother 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. Agencyfunds generallyare 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.
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 withinthe City (internal service funds). Internal servicefunds are includedwith the governmentalfunds
on the government-wide financial statements.
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 managementby segregating transactions related to certain governmentfunctions
or activities.
Funds are classified into three categories: governmental, proprietary, and fiduciary. Each category, in turn, is
divided into separate "fund types."
-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
Taxes Fines
Property Traffic fines
Sales (Home Rule)
Utility Intergovernmental
Personal property Motor fuel tax allotments
Grants
Supplemental Security Income reimbursements
Licenses Income taxes
Sales taxes
Use tax
Franchise fees
Charges for services Investment income
Recycling program fees and sales
The government-widefinancial statements are reported using the economicresources measurementfocus 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.
Governmentalfund financial statements are reported using the current financial resources measurementfocus 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
recordedwhena liability is incurred, as under accrual accounting. However, debt service expenditures,as wellas
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 a
so have been recognized as revenues of the current fiscal period.
-31-
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
The City reports the following major governmental funds:
The City reports the following major proprietary funds:
Additionally, the City reports the following fund types:
The Washington National Tax Increment District Fund accounts for the costs of redevelopmentof this
special taxing district. Financing is provided from the general obligation bonds and note proceeds.
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.
Governmentalfunds report unearned revenue in connectionwith receivables for revenues that are not considered
to be available to liquidate liabilities of the current period.
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.
The Sewer Fund accounts for the provision of sewer repair and improvementservices to the residents of
the City. All activities necessary to provide such services are accounted for in this fund, including
administration, operations, financing, and billing and collection.
The Water Fund accounts for the provision of water services to the residents of the City and the sale of
water to the Villageof Skokie, Illinois, and the Northwest Water Commission. All activities necessary to
provide such services are accounted for in this fund, including, but not limited to, administration,
operation, maintenance, financing and related debt service, and billing and collection.
All other revenue items are considered to be measurable and available only when cash is received by the City.
-32-
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 collectedwill 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 pronouncementsas well as relevant Financial Accounting
Standards Board (FASB) pronouncementsissued on or before November30, 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 nonoperatingitems. Operating revenuesand
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 enterpri
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. Unearnedrevenuesalso arise when resources are receivedby 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
recognitioncriteria 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.
-33-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
E. Cash and Equivalents
F. Investments
G. Inventories
H. Capital Assets
Cash and equivalentsrepresent cash on hand, cash depositedin interest-bearingand noninterest-bearingchecking
accounts, and investments in money markets, certificates of deposit, and treasury obligations with maturities of
three months or less at the date of acquisition, and cash deposited with the Illinois Funds.
The costs of normal maintenanceand 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 implementationof GASB 34 has
been reported.
Investmentsconsist of certificates of deposit, treasury 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 are purchased at a premium or discount which is amortized over the
life of the investment. This valuation method approximates fair value.
Inventories in the Water, Sewer, and Fleet Service Funds are valued at the lower of cost (first-in, first-out) or
market. Inventory amounts are recorded on the basis of a physical count.
Capital assets, which include property, plant, and equipment and infrastructure assets (e.g. roads, sidewalks,
trails, bridges, and similar items), are reported in the applicable governmentalor business-typeactivities columns
in the government-widefinancial 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
improvementswith 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.
Major outlays for capital assets and improvementsare 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.
-34-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
H. Capital Assets - Continued
Description Description Years
Land improvements Buildings and improvements 10-50
Leasehold improvements Office equipment and furniture 5-15
Plant Machinery and equipment 5-15
Transmission and distribution Infrastructure 30-100
system Library collections 7
Sewer system and
underground lines
Parking meters
I. Compensated Absences
J. Long-Term Obligations
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.
In the government-wide financial statements and proprietary fund types in the fund financial statements, long-te
debt and other long-termobligations are reported as liabilities in the applicable governmentalactivities, business-
type activities, or proprietary fund type statement of net assets. Bond premiums and discounts, as well as
issuance costs, are deferred and amortized over the life of the bonds. Bonds payable are reported net of the
applicable bond premium or discount. Bond issuance costs are reported as deferred charges and amortized over
the term of the related debt.
It is the City’s policy to permit employeesto accumulate earned but unused vacation and sick pay benefits. All
payments due in the event of terminationare accrued whenincurred in the government-wideand proprietary fund
financial statements. The General Fund has been used in prior years to liquidate the liability for compensated
absences.
20-100
5-100
75-100
15
Years
10-100
10-100
Property, plant, and equipmentare depreciated using the straight-line method over the followingestimateduseful
lives:
-35-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
K. Self-Insurance
L. Property Taxes
The property tax calendar for Cook County is as follows:
Lien Date January 1 of Levy Year
Levy Date December of Levy Year
First Installment Due Date
(one-half of prior bill) March 1 of Year following Levy Year
Second Installment Due Date
(balance of total bill) August or September of Year following Levy Year
The Town Fund and General Assistance Fund unearned revenue represents the net portion of the 2004 property
tax levy that will not be collectedwithin 60 days of the Township's March 31, 2005 year-end. A 5% allowance
for loss is reflected in the Township financial statements.
The City is self-insured to certain limits for general liability claims and for workers' compensationinsurance. A
liability is recorded when it is probable that a loss has occurred and the amount of the loss can be reasonably
estimated. Claims liabilitiesare based on estimates of the ultimate cost of reported claims includingfuture claims
adjustment expenses. General liability and workers' compensation claims are paid out of the Insurance Fund.
Property tax revenues are recognizedwhen they become both measurable and available. On this basis, property
tax revenue includes all cash distributions of property tax receivedduring the fiscal year betweenMarch 1, 2005
and February 28, 2006 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.
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.
-36-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
M. Fund Equity
N. Interfund Transactions
O. Use of Estimates
In the fund financial statements, governmentalfunds report reservations of fund balance for amounts that are not
available for appropriation or are legallyrestricted by outside parties for use for a specific purpose. Designations
of fund balance represent management plans that are subject to change.
In preparing financial statements, management is required to make estimates and assumptions that affect the
reported amounts of assets and liabilities, the disclosure of 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.
Transactions that constitute reimbursements to a fund for expenditures/expensesinitially made from it that are
properly applicable to another fund are recorded as expenditures/expenses in the reimbursing fund and as
reductions of expenditures/expensesin the fund that is reimbursed. All other interfund transactions are reported
as operating transfers.
-37-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 2. RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS
A.
General obligation bonds payable $ 158,490,000
Special service district bonds payable 3,335,000
Bonds premium liability 4,675,953
Compensated absences payable 8,149,132
Pension contributions payable 13,189,358
Net adjustments to reduce fund balance –
total governmental funds to arrive at net
assets – governmental activities $ 187,839,443
B.
1.
Capital outlay $ 42,291,596
Depreciation expense (6,737,514)
$35,554,082
Continued
The governmentalfund balance sheet includes a reconciliationbetween fund balance - total governmentalfunds
and net assets – governmentalactivities as reported in the government-widestatement 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 $187,839,443 difference are as follows:
The governmentfund 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-widestatement 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 $35,554,082
difference are as follows:
Explanation of Certain Differences between the Governmental Fund Statement of Revenues,
Expenditures, and Changes in Fund Balances and the Government-wide Statement of Activities
Net adjustment to increase net changes in
fund balances - total governmental funds to
arrive at changes in net assets of
governmental activities
Explanation of Certain Differences between the Governmental Fund Balance Sheet and the
Government-wide Statement of Net Assets
-38-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 2.
B.
2.
Principal repayments:
General obligation debt $ 13,785,000
SSD#5 Bond refunded 255,000
Net adjustment to increase net changes in fund balances –
total governmental funds to arrive at changes in net assets
of governmental activitie $ 14,040,000
3.
Compensated absences $ (1,661,362)
Amortization income 333,174
Pension contributions (1,806,529)
$(3,134,717)
4.
2005 Bond Series $ (29,270,000)
Bonds premium liability (2,062,395)
$(31,332,395)
Net adjustment to decrease net changes in fund balances –
total governmentalfunds to arrive at changes in net assets of
governmental activities
Explanation of Certain Differences between the Governmental Fund Statement of Revenues,
Expenditures, and Changes in Fund Balances and the Government-wide Statement of Activities -
Continued
RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS
– Continued
Another element of that reconciliation states that "The repayment of the principal of long-term debt
consumes the current financial resources of governmentalfunds. These transactions, however, have
no effect on net assets." The details of this $14,040,000 difference are as follows:
Another element of that reconciliation states that "Some expenses reported in the statement of
activities do not require the use of current financial resources and, therefore, are not reported as
expenditures in governmental funds." The details of this ($3,134,717) difference are as follows:
Another elementof that reconciliationstates that "Issuance of 2005 Bonds provides current financial
resources to governmentalfunds, whilethe repayment of the principal of long-termdebt consumesthe
current financial resources of governmentalfunds." The details of this ($31,332,395) differenceare
as follows:
Net adjustment to decrease net changes in fund balances –
total governmentalfunds to arrive at changes in net assets of
governmental activities
-39-
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.
2. Public budget hearings are conducted. Taxpayer comments are received and noted.
3. The budget is legally enacted through passage of a resolution.
4.
5.
Blended Component Unit
The following City and Township funds do not have legally adopted budgets:
Special Revenue
Library, Neighborhood Improvement, HOME, Community Development Loan, Employee Pension
Contribution
Budgets are legally adopted on a basis consistent with GAAP except that (1) property taxes are
budgetedas revenuein the year they are levied,(2) debt service payments are budgetedupon 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.
The Township prepares its annual appropriation ordinance, which is synonymous with its budget, using
the modifiedaccrual basis of accounting. The appropriation ordinancewas adopted on June 28, 2004. 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 City Manager submits to the City Council a proposed operating budget for the fiscal year
commencingthe following March 1. The operating budget includes proposed expenditures and the
means of financing them.
The City Manager is authorized to transfer budgeted amounts between departments within any fund;
however, any revisions that alter the total expenditures of any fund must be approved by the City
Council. The budget was not amended during the 2005/06 fiscal year.
-40-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 3. STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY - Continued
A. Budgetary Information - Continued
Capital Projects
General
Fund
Revenues
GAAP basis revenues as reported in the
Combined Statement of Revenues,
Expenditures, and Changes in Fund Balances $ 81,977,249
Increase (decrease) due to budgeting
property taxes as revenue in the year of levy (57,583)
Budgetary Basis Revenue $ 81,919,666
Expenditures
GAAP basis revenues as reported in the
Combined Statement of Revenues,
Expenditures, and Changes in Fund Balances $ 84,011,871
Increase (decrease) due to
Encumbrances - March 1, 2005 (447,032)
Encumbrances - February 28, 2006 62,643
Budgetary Basis Expenditure $ 83,627,482
Adjustments necessary to convert City revenues and expenditures for the year ended February 28, 2006 on the
GAAP basis to the budgetary basis are presented below:
The level of control (level at which expenditures may not exceed budget) is the fund. All unencumberedannual
appropriations lapse at the fiscal year-end.
Encumbrance accounting, under which purchase orders, contracts, and other commitmentsfor the expenditure of
monies are recorded in order to reserve that portion of the applicable appropriation, is employedas an extension
of formal budgetary integration in the General Fund. Encumbrances outstanding at year-end are reported as
reservations of fund balances since they do not constitute expenditures or liabilities under GAAP.
Capital Improvements, Central Business Tax Increment District, Washington National Tax Increment
District, Special Assessment
-41-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 3. STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY - Continued
B. DEFICIT FUND EQUITY
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS
A. Types of Accounts and Securities
B. Pooling of Cash and Investments
It is the policy of the City to invest public funds in a manner whereby its investmentobjectivesare 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 investmentportfolio to meey daily cash flow needs so as
to avoid needingto 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
benefitsto plan participants and beneficiaries. All investmentsare governedand authorized by the respectiveFire
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 respectivefund's assets. The pension
funds invest to conform to all state and local statutes governingpension funds. Additional detail is available in
each pension fund's investment policies.
Except for cash and investments in certain restricted and special accounts, the City pools the cash of various
funds to maximizeinterest earnings. Interest incomeis allocated to the various funds based upon their respective
participation.
The Insurance Fund, an internal service fund, had a net assets deficit of $3,522,374 as of February 28, 2006.
The City plans to use current resources and possible debt proceeds to pay for future liabilities.
Illinoisstatutes and the City's investmentpolicies 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 agreement 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.
-42-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS - Continued
C. Types of Investments
Equities
$ -
-
2,203,929
-
-
-
-
-
-
$ 2,203,929
Equities
$ -
$ - Total Township Investment $ 476,867 $ 476,867 $ -
Illinois Funds $ 476,867
Investment Type Fair Value Less Than 1 Year 1 - 10 More Years
Federal Farm Credit Bank 984,486
11,387,049
$ 21,349,654
Fidelity Money Market
JP Morgan Monet Market
First Bank Money Market
Vanguard Money Market
$ 2,347,263
231,342
6,547,447
774,428
$ 101,295,376
IMET Money Market
Less Than 1 Year
Governmental and Enterprise
Total Governmental and Enterprise
Investment Fund
Investment Maturities (In Years)
$ 78,662,268 $ 20,429,179
$ -
-
2,333,969
1,906,841
$ 21,349,654
21,523,800
-
13,002,599
16,396,844
3,983,018
9,998,875
1,000,000
221,990
- 984,486
17,396,844
221,990
$ 21,349,654
21,523,800
4,537,898
2,806,668
9,472,562
23,001,474
Fannie Mae
Corporate Notes
Money Market / Liquid Assets
Illinois Funds
Mutual Funds
U.S. Treasuries
Federal Home Loan Mortgage Corp
Federal Home Loan Bank
1 - 10 More YearsInvestment Type Fair Value
-
899,827
5,489,544
As of February 28, 2006, the City has the following investments and maturities.
Fifth Third Money Market
62,125
$ 476,867
Investment Maturities (In Years)
$ -
Total Money Market
Township
-43-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS - Continued
C. Types of Investments - continued
Equities
$ -
29,746,960
-
-
-
-
-
-
6,141,193
$ 35,888,153
6,809,140
Federal Home Loan Mortgage Corp 5,340,782
6,809,140 -
- 5,340,782
Credit Risk.State law limits investmentsin commercialpaper, corporate bonds, and mutual bonds funds to the
top two ratings issued by nationally recognizedstatistical rating organizations. The City's investmentpolicy does
not impose further limits on investment choices. As of June 30, 2005, 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
conveniencefund collateralizesall of its deposits 110%. The City's investmentin 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.
4,540,013 - Ginnie Mae
Fannie Mae
$ 15,136,395
JP Morgan Monet Market 4,355,186
Schwab Money Market 2,909
Oak Brook Bank Money Market 8,463,135
Bank One Trust Money Market $ 312,380
Smith Barney Money Market 2,002,785
Total Fire and Police Investment $ 94,796,305 $ 16,121,987 $ 42,786,165
Common Stock 6,141,193 - -
Federal Home Loan Bank 3,750,387 - 3,750,387
Federal Farm Credit Bank 74,282 - 74,282
U.S. Treasuries 17,408,983 985,592 16,423,391
Mutual Funds 35,595,130 - 5,848,170
Money Market / Liquid Assets $ 15,136,395 $ 15,136,395 $ -
Investment Maturities (In Years)
Interest Rate Risk.The City's investmentpolicy does not limit investmentmaturities as a means of managingits
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.
4,540,013
1 - 10 More YearsInvestment Type Fair Value Less Than 1 Year
Fire and Police Pension
-44-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS - Continued
C. Types of Investments - continued
D. Deposits
City
Township
Fiduciary
E. Reconciliation of Unrestricted and Restricted Cash and Investments
Deposits consist of deposits in interest-bearing and noninterest-bearing checking accounts. At February 28,
2006, the carrying amount of the City's deposits, including cash on hand of $42,708, was $9,234,040. The
financial institutions' balances totaled $12,074,099.
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 investmentor 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.
The total of unrestricted cash and investments and restricted cash and investments from the Statement of Net
Assets and for the fiduciary funds is reconciledto the precedingdeposit and investmentdisclosures(Notes 4C and
Notes 4D) as follows:
At March 31, 2005, the carrying amount of the Township's deposits was $244,316. The financial institutions'
balances totaled $248,639.
Deposits consist of deposits in interest-bearing and noninterest-bearing accounts. At February 28, 2006, the
carrying amount of the Pension's deposits was $693,717 and $21,073 for Agency. The financial institutions'
balances totaled $702,794 and $21,073, respectively.
Concentration of Credit Risk.It is the policy of the City to diversifyits investmentportfolio.Investmentsshall
be diversifiedto eliminatethe risk of loss resulting in overconcentrationin a security, maturity, issuer, or class of
securities.
-45-
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 $ 46,104,946
Unrestricted investments 40,247,346
Restricted cash and equivalents and investments 24,898,307
Total Cash and Investments – Primary Government 111,250,599
Fiduciary funds cash and equivalents 15,851,185
Fiduciary funds investments 79,659,910
Total Cash and Investments $ 206,761,694
Carrying amount of deposits – from Note 4 D $ 10,193,146
Investments – from Note 4 C 196,568,548
Total $ 206,761,694
-46-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 5. RECEIVABLES
A. Summary of Receivables
Washington
National Nonmajor Nonmajor
General TIF Enterprise and Other
Fund District Water Sewer Fund Funds Total
Receivables:
Property taxes $ 14,511,052 $ - $ - $ - $ - $ 25,682,144 $ 40,193,196
Accounts - - 1,917,384 2,633,531 - 95,220 4,646,135
Notes - - - - - 6,155,871 6,155,871
Special assessments - - - - - 769,274 769,274
Accrued interest 66,343 - - 64,901 25,533 372,546 529,323
Other 1,628,327 - 20,487 - 11,686 219,382 1,879,882
Gross receivables 16,205,722 - 1,937,871 2,698,432 37,219 33,294,437 54,173,681
Less: allowance for
uncollectibles 284,530 - - - - 503,571 788,101
Net total receivables $ 15,921,192 $ - $ 1,937,871 $ 2,698,432 $ 37,219 $ 32,790,866 53,385,580
Less Fiduciary Fund Accrued Interest Included in Nonmajor and Other Funds (279,071)
Net total receivables - Statement of Net Assets $ 53,106,509
B. Notes Receivable – Special Revenue Funds
Beginning Loans Loan End of
of Year Made Repayments Year
$ 5,395,129 $ 1,086,641 $ 349,599 $ 6,132,171
Rates
Interest
0% - 8%
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:
The City makes loans to City residents for the rehabilitation of single-family and multi-family housing. Initial funding for these loans was from
Community Development Block Grant (CDBG) and Housing and Urban Development (HUD) Funds. Two types of loans are made: (1) title
transfer loans which are due in full when the housing unit is sold, and (2) amortizing loans which are due in monthly installments over varying
lengths of time. Repayments of principal and any interest earned on these receivables, which are recorded in the respective Special Revenue
funds, are used to make additional rehabilitation loans. An allowance of $90,000 exists in the Special Revenue funds due to doubtful accounts.
Loan activity for the current year is summarized as follows:
-47-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 6. CAPITAL ASSETS
A. Capital Asset Activity
Capital asset activity for the year ended February 28, 2006 was as follows:
Governmental activities:
Capital assets, not being depreciated:
Land
Right of way
Construction in progress
Total capital assets, not being depreciated
Capital assets, being depreciated:
Buildings and improvements
Office equipment and furniture
Machinery and equipment
Infrastructure
Library collections
Capitalized leases
Total capital assets being depreciated
Less accumulated depreciation for:
Buildings and improvements
Office equipment and furniture
Machinery and equipment
Infrastructure
Library collections
Capitalized leases
Total accumulated depreciation
Total capital net assets being depreciated, net
Governmental activities capital assets, net
End of Year
18,695,896
6,556,620$
66,910,458
41,657,942
20,939,965
9,534,769
78,509,383
664,069
10,192,310
85,894,840
23,434,757
205,735,336
8,620,845
44,116,889
13,306,814
5,070,621
95,213,995
664,069
6,457$ 177,431,799$
110,521,341
2,746,041
6,457
-
37,590
526,498
337,382
1,094,727
749,844
526,498
2,752,498
1,094,727
756,301
-
37,590
-
337,382
-$
-
-
DeletionsAdditions
36,478,431$
1,451,671
-
8,126,461
4,014,962
1,769,587
1,265,709
1,509,604
2,129,890
7,088,442
300,719
-
12,141,423
89,833,575
106,512,836
140,959,825$
-$
89,755
32,373,714
32,463,469
1,968,868
-
2,783,394
12,547,054
41,986,999
7,206,764
1,190,567
1,190,567
196,346,411
22,002,552
4,899,639
10,629,496
18,912,872
78,806,398
9,929,181
Balance
March 1, 2005
As Restated
76,877,897
18,606,141
9,284,228
34,446,989
6,556,620$
-48-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 6. CAPITAL ASSETS - Continued
A. Capital Asset Activity - Continued
Deletions
Business-type activities:
Capital assets, not being depreciated:
Land -$
Construction in progress 13,000,678
Total capital assets, not being depreciated 13,000,678
Capital assets, being depreciated:
Land improvements -
Buildings and improvements -
Leasehold improvements -
Plant 224,624
Transmission and distribution system 117,253
Sewer system and underground lines -
Equipment 36,671
Parking meters -
Total capital assets being depreciated 378,548
Less accumulated depreciation for:
Land improvements -
Buildings and improvements -
Leasehold improvements -
Plant 87,670
Transmission and distribution system 11,358
Sewer system and underground lines -
Equipment 36,669
Parking meters -
Total accumulated depreciation 135,697
Total capital net assets being depreciated, net 242,851
Business-type activities capital assets, ne 13,243,529$
Beginning
of Year Additions
-$
11,377,454
11,377,454
End of Year
2,082,633
2,006,010
8,956,371
-
38,413,317
1,967,905
448,851
280,069,956
620,365
4,157,637
275,543
292,736,422
448,851 -
13,045,014
-
302,752
-
-
188,719,150
3,386,672
31,428,772
29,586,234
24,229,620
23,200,279
19,902,342
3,297,937$
21,577,055
18,279,118
3,297,937$
31,428,772
302,752
3,386,672
26,118,377
31,444,243
197,675,521
1,931,234
253,567
8,711,431
3,655,417
19,388,971
13,262
703,501
616,035
1,350,386
2,543,715
151,502
80,567
720,019
26,663
4,855,264
8,189,750
266,829
9,327,262
4,260,094
21,932,686
700,932
4,877,656
1,465,219
302,206
43,132,884
249,603,538
271,180,593$
241,656,639
264,856,918$ 19,567,204$
-49-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 6. CAPITAL ASSETS - Continued
A. Capital Asset Activity - Continued
Depreciation expense was charged to functions/programs of the primary government as follows:
Governmental activities:
General management and support $ 2,714,498
Public safety 455,591
Public works 2,246,430
Recreation and cultural opportunities 2,709,942
Total depreciation expense – governmental activities 8,126,461
Business – type activities:
Water $ 1,345,848
Sewer 2,665,388
Maple Avenue Garage 685,311
Motor Vehicle Parking 158,717
Total depreciation expense – business – type activities 4,855,264
B. Construction Commitments
$ 1,091,123
334,848
17,633,335
$ 19,059,306
The value of construction contracts signed, where the work has not yet been performed at February 28, 2006, is as
follows:
Capital Improvement Fund
Water Fund
Sewer Fund
Total Construction Commitments
-50-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7. INTERFUNDS
A. Interfund Accounts
At February 28, 2006 interfund receivables and payables consist of the following:
Governmental Funds
General Fund
Emer enc Tele hone S ste
Economic Develo men
EVNORSK
Motor Fuel Tax
Fleet Servic
ei hborhood Im rovemen
Communit Develo ment Block Gran
S ecial Assessment
Washin ton National Tax Increment District
Central Business Tax Increment District
General Obli ation Debt
Central Business Tax Increment District
Ca ital Im rovements
Ma le Avenue Gara e
Motor Vehicle Parkin S ste
Water
Sewer
Firefi hters Pension
Police Pensio
Total General Fund
Washington National Tax Increment District
General
Economic Development
Howard Ridge Tax Increment District
Total Washington National Tax Increment District
Continued
4
-
7,063
533,054
-
398
-
367,068
-
- 20,000
-
142
Other FundsFunds
984,612
5,000
Due fro
The outstanding balances between funds result mainly from the time lag between the dates that (1) interfund goods and
services are provided or reimbursable expenditures occur, (2) transactions are recorded in the accounting system, and (3)
payments between funds are made.
-
Due to
Other Funds
222
-
4,470
-
1,787,137
240
-
-
4
73,972
-
-
1,480,988
- 12,710
-
-
11,906
2,910,032
-
4
557,473
1,897
$ -
-
$ 1,852
-
5,347
1,716
-
-
28,863
-51-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7. INTERFUNDS - Continue
A. Interfund Accounts - Continue
Nonma or Governmental Funds
Motor Fuel Tax
General
Communit Develo ment Loa
Total Motor Fuel Tax
Economic Develo men
General
Washin ton National Tax Increment District
Howard Rid e Tax Increment District
Total Economic Develo men
Emer enc Tele hone S ste
General
ei hborhood Im rovemen
General
Communit Develo ment Block Gran
General
Ca ital Im rovements
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
Washin ton National Tax Increment District
Employer Pension Contribution
Firefighters Pension
Police Pension
Total Employer Pension Contribution
Town
General Assistance
General Assistance
Town
General Obligation Debt
General
Central Business Tax Increment District
General
Fleet
Total Central Business Tax Increment District
Washington National Tax Increment District
Special Service District No. 4
Continued
20,000 -
1,787,137 -
- 51,650
73,972 -
Funds Other Funds
-$
Due to
367,068
-
-
41,586
-
1,897
-
1,852
3,613
109
109
Due fro
41,586
-
75,000
14,788
-
-
-
-
20,000
$ 367,068
-
Other Funds
109
-
1,716
75,000
-
-
142
1,227,773
14,788
-
109
75,142
75,000
- 20,000
970,049
2,197,822
125,622 -
200,786 -
- 200,786
-52-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7. INTERFUNDS - Continue
A. Interfund Accounts - Continue
Nonmajor Governmental Funds - Continued
Howard Ridge Tax Increment District
Economic Development
Washington National Tax Increment District
Central Business Tax Increment District
Total Howard Ridge Tax Increment District
Central Business Tax Increment District
General
Howard Ridge Tax Increment District
Total Central Business Tax
Increment District
Capital Improvements
Maple Avenue Garage
Community Development Block Grant
General
Total Capital Improvements
Special Assessment
General
Total Nonmajor Governmental Funds
Total Governmental Funds
Enterprise Funds
Water
Sewer
General
Total Water
Sewer
General
Water
Fleet
Total Sewer
Nonmajor Enterprise Funds
Maple Avenue Garage
General
Motor Vehicle Parking System
Capital Improvements
Total Maple Avenue Garage
Continued
60,000
277
2,370
-
-
-
-
Due to
Other Funds
Due from
41,586$ -$
Other Funds
5,347
-
398
-
-
3,120,575
6,030,611
2,162,238
3,650,289
-
Funds
2,370
49,303
11,906
-
11,906
70
277
-
-
222
- 79,258
-
- 4,470
60,000
60,070
240
2,610
398
230,000
-
230,277
-
28,863
28,863
-
277
14,788
-
-
-53-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7. INTERFUNDS - Continue
A. Interfund Accounts - Continue
Nonmajor Enterprise Funds - Continued
Motor Vehicle Parking System
General
Maple Avenue Garage
Total Motor Vehicle Parking System
Total Nonmajor Enterprise Funds
Total Enterprise Funds
Internal Service Funds
Fleet Services
General
EVNORSKO
Sewer
Central Business Tax Increment District
Total Fleet Services
Total Internal Service Funds
Trust and Agency Funds
Firefi hters Pension
General
Employer Pension Contribution
Total Firefighters Pension
Police Pension
General
Employer Pension Contribution
Total Police Pension
Total Trust and Agency Funds
Total All Funds
Less amounts eliminated during GASB 34 implementation
Less total due from other Agency (EVNORSKO)
Less total Firefighters and Police Pension
Total Primary Government
985,124
12,780
-$
-
-
72,253
Due to
Other FundsFunds
Due from
Other Funds
70
-
-
-
512
51,650
-
-
-
1,227,773
557,473
1,785,246
-
-
-
1,503,103
(3,288,349)
(4,488)
533,054
970,049
272,318
984,612
7,288,053
(3,799,639)
-
7,292,541
3,288,349
(3,799,639)
(3,288,349)
-
281,650
230,000
281,650 985,124
-
12,710$
60,070 13,178
200,065$ 200,065$
-54-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7. INTERFUNDS - Continued
B. Interfund Transfers
At February 28, 2006 transfers in / out consist of the following:
Governmental Funds
General Fund
Motor Fuel Tax
Ma or's S ecial Housin
Central Business Tax Increment District
Washin ton National Tax Increment District
Howard Hartre Tax Increment District
Southwest Tax Increment District
Ca ital Im rovements
S ecial Assessment
General Obli ation Debt
Flee
Water
Ma le Avenue Gara e
Total General Fund
Washington National Tax Increment District
Howard Ridge Tax Increment District
Total Washington National Tax Increment District
Nonmajor Governmental Funds
Motor Fuel Tax
General
Economic Develo men
Ma le Avenue Gara e
Howard Rid e Tax Increment District
Total Economic Develo men
Ma or's S ecial Housin
General
Community Development Loan
Community Development Block Grant
Continued
79,551
31,800
-
4,966,843
772,500
5,347 -
265,200
31,800
Transfers
1,258,250
Funds
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.
-
31,800
-
-
772,500$ -$
137,900 -
-
-
884,043 -
Transfers
128,800
19,000 -
2,693,600
21,200
OutIn
813,500
125,750
300,000
-
5,347
-
37,521
-
37,521
-
-
650,000
650,000
-
-
-55-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7. INTERFUNDS - Continued
B. Interfund Transfers - Continued
Nonma or Governmental Funds - Continued
Communit Develo ment Block Gran
Community Development Loan
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
Fleet
Sewer
Maple Avenue Garage
Water
Total Central Business Tax Increment District
Southwest Tax Increment District
General Fund
Howard Hartrey Tax Increment District
General Fund
Washington National Tax Increment District
General Fund
Central Business Tax Increment District
Total Washington National
Tax Increment District
Howard Ridge Tax Increment District
Economic Development
Washington National Tax Increment District
Total Howard Ridge Tax Increment District
Capital Improvements
Water
Fleet
General
Total Capital Improvement
Continued
123,171 -
137,900
-
884,043
-
- 21,200
128,800
845,315
- 37,521
- 42,868
548,300
548,300 3,405,000
-
-
3,300,000
105,000
- 123,171
-
5,347
268,449 -
- 137,900
845,315
426,250 -
125,750 -
79,551$
Transfer
In Out
Transfer
-$
-
Funds
-
-
845,315
4,500,000
- 7,449,059
-
-
-
300,500 -
51,650
899,602
-56-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7. INTERFUNDS - Continue
B. Interfund Transfers - Continued
Nonma or Governmental Funds - Continued
Special Assessment
General
General Obligation Debt
Total Special Assessment
Total Nonmajor Governmental Funds
Total Governmental Funds
Enterprise Funds
Water
General
Capital Improvement
Insurance
Central Business Tax Increment District
Total Water
Sewer
Central Business Tax Increment District
Fleet
Total Sewer
Nonmajor Enterprise Funds
Maple Avenue Garage
General
Central Business Tax Increment District
Economic Development
Total Maple Avenue Garage
Total Nonmajor Enterprise Funds
Total Enterprise Funds
Continued
7,032,298 14,432,399
-
899,602
230,000
2,060,108 13,174,149
- 300,500
Out
-$ 31,800$
300,000 -
332,300
3,568,449 5,993,600
- 2,693,600
-
3,300,000 -
-
899,602 230,000
650,000
3,300,000
268,449 -
-
-
4,500,000 -
5,450,000
-
9,918,051 6,223,600
5,450,000 -
Funds In
Transfer Transfer
-57-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7. INTERFUNDS - Continue
B. Interfund Transfers - Continued
Internal Service Funds
Fleet Services
General
Capital Improvement
Central Business Tax Increment District
Sewer
Total Fleet Services
Insurance
Water
Total Internal Service Funds
Total All Funds
Less amounts eliminated during GASB 34 implementation
Total Primary Government
230,000 -
3,300,000 -
3,705,650 -
Out
Transfer Transfer
405,650 -
105,000
(16,378,248)
20,655,999 20,655,999
4,277,751$ 4,277,751$
(16,378,248)
-
51,650 -
Funds
19,000$ -$
In
-58-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 8. OPERATING LEASES
Minimum annual lease payments are as follow
Fiscal year ending 200 $ 167,584
Fiscal year ending 200 152,939
Fiscal year ending 200 105,236
Fiscal year ending 201 33,649
Fiscal year ending 2011 2,541
$ 461,949
The City leases 9 copiers for the Library from GE Capital, with a 60-month term starting February 2004
(monthly payment of $1,789), 4 copiers for the Police Department from GE Capital with a 60-month term
starting February 2004 (monthly payment of $1,930 and $247), 1 copier for the Hearings Division from
DocumentVisionTechnologieswith a 60-monthterm starting June 2003 (monthlypaymentof $190), 1 copier for
the Budget Department from DocumentVision Technologieswith a 60-month term starting April 2003 (monthly
payment of $490), 1 copier for the Water Department from DocumentVisionTechnologieswith a 36-monthterm
starting December 2004 (monthly payment of $305), 3 copiers for Fleet Services from GE Capital with a 36-
month term starting March 2004 (monthlypayment of $600), 1 copier for the Chandler Center from GE Capital
with a 60-month term starting September 2004 (monthlypayment of $302), and 2 copiers for Parks/Foresty and
Recreation with a 60-month term starting February 2004 (monthly payment of $1,759).
During the 2006 fiscal year, the lease of 4 copiers for the Police and Recreation Departments, with monthly
payments of $1,757, was terminatedand replaced with a new contract from DocumentVisionTechnologiesfor a
60-month term starting April 2005 (monthly payment $2,541), which added 2 copiers for the fourth floor and
fir fl r f h E n n i i n r
Payments 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
monthl a ment of 410
The City has various operating leases covering the rental of several digital office copiers from 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.
-59-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 9. LONG-TERM DEBT
A. Chan es in Lon -Term Debt
Retired or
Final Balance Issued Transferred Balance
Interest Maturity March 1, or to Debt February 28, Due Within
Rate Date 2005 Adjusted Service Funds 2006 One Year
Governmental activities
General obligation bonds/corporate purpose bonds
Series 1996 4.20%-5.70% 12/1/2016 $ 1,040,000 $ - $ 1,040,000 $ - $ -
Series 1997 5.00%-5.50% 12/1/2017 16,660,000 - 2,260,000 14,400,000 2,430,000
Series 1998 4.80%-4.875% 12/1/2018 8,300,000 - 6,950,000 1,350,000 420,000
Series 1999 4.25%-5.00% 12/1/2019 34,060,000 - 2,165,000 31,895,000 3,060,000
Series 2000 Variable Rate 12/1/2021 31,800,000 - 4,000,000 27,800,000 27,800,000
Series 2002A Variable Rate 12/1/2018 29,500,000 - - 29,500,000 29,500,000
Series 2002B Variable Rate 12/1/2007 5,500,000 - - 5,500,000 5,500,000
Series 2002C 5.00%-5.80% 1/1/2022 13,955,000 - 1,290,000 12,665,000 735,000
Series 2003 2.00%-5.00% 1/1/2010 10,285,000 - 2,540,000 7,745,000 2,530,000
Series 2003B 2.00%-5.25% 1/1/2023 11,070,000 - 80,000 10,990,000 80,000
Series 2004 2.00%-5.00% 12/1/2023 13,355,000 - 130,000 13,225,000 145,000
Series 2004B 2.00%-5.25% 12/1/2017 11,585,000 - - 11,585,000 -
Series 2005 3.25%-5.00% 12/1/2025 - 29,270,000 50,000 29,220,000 800,000
Total general obligation bonds/corporate purpose bonds 187,110,000 29,270,000 20,505,000 195,875,000 73,000,000
Less: Business-type activity bonds (43,655,000) - (6,270,000) (37,385,000) (15,735,000)
Total governmental activity bonds 143,455,000 29,270,000 14,235,000 158,490,000 57,265,000
Special Service District #5
Series 2002C rfndg 1996 5.00% - 5.80% 1/1/2016 3,445,000 - 110,000 3,335,000 265,000
Bonds 1995 4.30% - 5.90% 12/1/2015 145,000 - 145,000 - -
Total special service district # 5 bonds 3,590,000 - 255,000 3,335,000 265,000
Bonds premium liability 2,946,732 2,062,395 333,174 4,675,953 -
Pension contributions 11,382,829 1,806,529 - 13,189,358 -
Compensated absences payable - City 7,039,870 1,661,362 111,108 8,590,124 1,560,221
Claims payable 12,696,784 741,028 8,903,698 4,534,114 862,114
Governmental activity Long-term liabilities $181,111,215 $35,541,314 $23,837,980 $192,814,549 $59,952,335
-60-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 9. LONG-TERM DEBT - Continued
A. Chan es in Lon -Term Debt - Continued
Retire or
Transferred
Final Balance Issued to Debt Balance
Interest Maturity March 1, or Service February 28, Due Within
Rate Date 2005 Adjusted Funds 2006 One Year
Business-type Activities
General obligation bonds/corporate purpose bonds
Sewer $22,495,000 $- $1,925,000 $20,570,000 $ 2,050,000
Maple Avenue Garage 16,900,000 - 3,800,000 13,100,000 13,100,000
Parking System 4,260,000 - 545,000 3,715,000 585,000
Total general obligation bonds/corporate purpose bonds 43,655,000 - 6,270,000 37,385,000 15,735,000
Unamortized bond expenses and discount (51,362) - (22,608) (28,754) (21,399)
Water Fund revenue bonds
Series 1997 4.00-4.30%1/1/2006 410,000 - 410,000 - -
Series 1999 4.125-4.375%1/1/2014 2,325,000 - 220,000 2,105,000 230,000
Series 2002 2.00-3.75%1/1/2012 1,840,000 - 235,000 1,605,000 240,000
Total Water Fund revenue bonds 4,575,000 - 865,000 3,710,000 470,000
Sewer Fund – Illinois Various
Environmental Protection Through
Agency loans 2.535-3.59%11/26/2021 102,200,011 5,175,923 5,975,259 101,400,675 6,574,741
Compensated absences payable - City 454,238 121,150 - 575,388 575,388
Business-type activity long-term
liabilities $ 150,832,887 $ 5,297,073 $ 13,087,651 $ 143,042,309 $ 23,333,730
-61-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 9. LONG-TERM DEBT - Continued
B. General Obligation Bonds Payable
In July 28, 2005, the City issued Series 2005 $29,270,000 in General Obligation bonds at a net interest cost of
3.893986%. The proceedsare being used to partially refund$6,350,000 of the 1998 bonds, pay a portion of the costs
of the Capital Improvement Program, finish constructing the Sherman Garage, and pay for the additional Special
Assessment Alley program. The City completed the partial advance refunding of the 1998 bonds to reduce its total
debt servicepaymentsover the next thirteen yearsby $296,958 and to obtain an economicgain (differencebetweenthe
present values of the old and new debt service payments) of $227,965.
The City issued general obligation bonds to provide funds for the acquisition and construction of major capital
facilities. General obli ation bonds have been issued for both overnmental and business-t e activitie
General obligation bonds are direct obligations and pledge the full faith and credit of the City. These bonds generally
are issued as 20-ear serial bonds with e ual amounts of rinci al maturin each ea
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 roceeds are bein used to artiall refund $11 085 000 of the 1997 bonds
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 December 1, 2001 through November 30,
2005. 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 agreementwith 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 December 1, 2002 through
In May, 2003, the City issued Series 2003B $11,485,000 in General Obligation bonds at a net interest cost of
4.4900825%. The roceeds are bein used to artiall finance the Cit 's Lon -Ran e Ca ital Im rovement Pro ra
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 ImprovementProgram
and Special Assessment Alley program.
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 accompanyingfinancial 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 escrowaccountand those monies were used to fullypay off 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 (differencebetween the present values of the old and new debt service
payments) of $1,065,550.
-62-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 9. LONG-TERM DEBT - Continued
Annual debt service requirements to maturity for general obligation bonds are as follow
Year Ending
February 28 Principal Interest Principal Interest
2007 $ 57,265,000 $ 16,321,489 $ 15,735,000 $ 2,345,968
2008 7,495,000 4,508,209 2,785,000 1,282,325
2009 6,360,000 4,223,199 2,980,000 1,109,885
2010 6,510,000 3,995,735 3,170,000 925,328
2011 6,650,000 3,791,437 2,735,000 728,974
2012-2016 38,265,000 14,504,892 8,940,000 1,403,085
2017-2021 25,220,000 6,185,456 1,040,000 97,944
2022-2026 10,725,000 1,227,713 - -
Total $ 158,490,000 $ 54,758,130 $ 37,385,000 $ 7,893,509
C. S ecial Service District Bonds Pa able
Annual debt service requirements to maturity for special assessment bonds are as follow
Year Ending
February 28 Principal Interest
2007 $ 265,000 $ 170,563
2008 285,000 157,313
2009 295,000 143,063
2010 305,000 128,313
2011 325,000 113,063
2012-2016 1,860,000 301,823
Total $ 3,335,000 $ 1,014,138
Governmental Activities Business-type Activities
The City also issued debt in the Special Service District No. 5 Fund to provide funds for the principal and interest
a ments on unlimited ad valorem tax bonds issued for this s ecial taxin distric
Governmental Activities
-63-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 9. LONG-TERM DEBT - Continued
D. Revenue Bonds Payable
Revenue bond debt service requirements to maturity are as follow
Year Ending
February 28 Principal Interest
2007 $ 470,000 $ 145,088
2008 485,000 128,713
2009 510,000 110,913
2010 525,000 91,556
2011 550,000 71,269
2012-2016 1,170,000 88,717
Total $ 3,710,000 $ 636,256
E. Notes Payable - Sewer IEPA Loans
Notes payable – Sewer IEPA debt service requirements to maturity are as follow
Year Ending
February 28 Principal Interest
2007 $ 6,574,741 $ 2,807,623
2008 6,768,449 2,613,831
2009 6,967,954 2,414,239
2010 7,173,432 2,208,672
2011 7,385,064 1,996,948
2012-2016 35,798,956 6,737,629
2017-2021 23,031,295 2,488,149
2022-2026 7,700,784 403,985
Total $ 101,400,675 $ 21,671,076
Business-type Activities
As of February 28, 2006, the City currently has 24 outstanding loans from the IEPA. The City will repay the loans
solely from revenuesderived 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 accruedduring
construction. Repayments begin not later than six months after completion of construction.
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.
Business-type Activities
-64-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 9. LONG-TERM DEBT - Continued
F. Prior Years' General Obli ation Bond Defeasances
Ori inal Outstandin
GO Serie Amount Defease Defeased Amount
1996 $ 9,765,000 $ 9,765,000
1997 11,085,000 #########
1998 6,350,000 6,350,000
Series
1997 $ 14,400,000
1998 1,350,000
G. Prior Years' S ecial Service District #5 Bond Defeasances
Ori inal Outstandin
Amount Defease Defeased Amount
$ 1,990,000 $ 1,990,000
1,620,000 1,260,000
There are no outstanding balances for Special Service District #5 bonds 1995 and 1996, not defeasedat February 28,
2006.
1996
Special Service District #5
1995
In 2003, the City defeased a portion of Special Service District #5 Series 1995 and 1996 bonds by placing a portion
of the roceeds of Series 2002C in an irrevocable escrow accoun
In 1999, the City defeased a portion of Series 1994, Series 1995, and Series 1996 Corporate Purpose bonds, by
placing a portion of the proceedsof the Series 1999 Bonds in an irrevocabletrust to provide for the advancerefunding
of the callable ortion of the bonds.
The trust account assets and the liabilities for the defeased bonds are not included in the City’s financial statements.
At Februar 28 2006 the followin remainin outstandin balances are considered defease
The outstanding balances of Series 1997 and 1998, not defeased at February 28, 2006, are recorded as a liability in
the Cit ’s financial statements. Those balances are as follow
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 accoun
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 accoun
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 10 FUND EQUITY
A. Restrictions of Retained Earnin s - Water Fund
Surplus Revenue Account - All revenuesremaining after all other credits in the Water Fund have been made shall
be credited to this account and be used for: making up any deficiencynecessary 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
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
monthlyan amount at least equal to the sum of one-fifthof the interest becoming due on the next interest payment
-
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
replacementsfor improvementor extension of the system. The funds may be used at any time to pay principal of,
or interest upon, any outstanding bonds payable whenever there are no other funds available. If the money on
deposit is greater than $400,000, the excess can be transferred to any other account within the Water Fund. All
proceeds received from the disposition of any property shall be credited to this account.
Bond 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.
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:
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 10. FUND EQUITY - Continued
B. Restrictions of Fund Equity
City General Fund
Reserved for encumbrances $ 62,643
Reserved for Arts Council 34,265
Reserved for private elm trees 55,384
Reserved for Butterfield sculpture 31,833
Reserved for scholarship contributions 34,653
Reserved for public library acquisitions 233,797
Reserved for recreation group activities 192,058
Reserved for IMRF 2,590,000
Reserved for compensated absences 2,576,360
Other reserves 216,427
Total General Fund 6,027,420
Special Revenue Funds
Reserved for notes receivable 6,132,171
Debt Service Funds
Reserved for debt service 27,780,874
Capital Project Funds
Reserved for notes receivable 23,700
Total Reserved Fund Equity - Governmental Funds $39,964,165
Restrictions are used to segregate portions of fund equity which are either legally restricted for specific purposes
or not "available spendable resources." The following restrictions are reported:
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 10. FUND EQUITY - Continued
B. Restrictions of Fund Equity - Continued
Fiduciary Funds
Firefighters' Pension Fund Restriction for employee pension benefits $ 40,653,426
Police Pension Fund Restriction for employee pension benefits 58,400,854
Total Fiduciary Funds $99,054,280
C. Unrestricted Fund Equity - Designated
The City has designated certain amounts of unrestricted fund equity for the following purposes:
General Fun
Capital projects to be financed in a future perio $ 320,196
Special Revenue Fund
Specific Capital Project
Motor Fuel Tax 2,306,613
Librar 2,490,977
Total Special Revenue Fund 4,797,590
Capital Projects Fund
Specific capital project
Capital Improvement 13,728,067
Central Business Tax Increment Distric 4,217,593
Special Assessment 1,809,885
Washington National Tax Increment Distric 7,143,095
Total Capital Projects Fund 26,898,640
Unrestricted Fund Equity - Designate $ 32,016,426
The Township has no designated unrestricted fund equity.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 11. INDIVIDUAL FUND ACTIVITIES
A. General Obligation Debt Service Fund
B. Water Fund
C. Special Service District No. 4
The City usually adopts several resolutions abating portions of the property tax debt service levies. The amount
of property taxes abated is derived from principal and interest payments by private assessments on street paving
projects; additional sewer service fees related to the citywide sewer improvementproject; tax incrementrevenues
in the Central Business, Southwest, WashingtonNational, and Howard Hartrey Tax IncrementDistricts; revenues
from the Motor Vehicle Parking System Fund associated with the Church Street Self-Park garage; and General
Obligation Debt Service Fund interest income.
On January 28, 1997, the City executed a long-termwater 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 renewableat ten-year intervals thereafter. Under the terms
of the contract, Evanston is to supply Skokie sufficient potable Lake Michigan water to satisfy the maximum24-
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’smaximum 24-hour demands for Lake Michigan water
for resale to the Commission’s customers.
On January 13, 1997, the City Council adopted Ordinance No. 116-0-96 which extended the life of Special
Service District No. 4 for a period of ten years from August 13, 1997. Special Service District No. 4 comprises
the central business district of the City. The special district was establishedfor the purpose of providingfunds for
special maintenance and repair and for promotion and advertisement. The Ordinance states that the annual
property tax levyfor the District shall be the lesser of an annual rate of .30% of the assessed value as equalizedor
$250,000. The annual property tax levy for 2005 was $250,000.
The ordinancealso authorized the City to enter into an agreementwith EVMARK, INC., an Illinoisnot-for-profit
corporation to plan, implement, and manage the district.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 12. RISK MANAGEMENT - CLAIMS AND JUDGMENTS
The changes in the balances of claims liabilities during the past two fiscal years are as follows:
Workers’ General
Compensation Liability Total
March 1, 2004 $ 2,056,152 $ 26,109,499 $ 28,165,651
New claims and/or estimate revisions 1,136,548 (10,421,403) (9,284,855)
Claims payments (498,416) (5,685,596) (6,184,012)
February 28, 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
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
establishedon March 1, 1994 to administergeneralliability claims and workers' compensationprograms on a cost
reimbursement basis. The fund accounts for the aforementionedliabilities of the City, but does not constitute a
transfer of risk from the City.
The City records estimated liabilities for workers' compensation and for general claims. Claims liabilities are
based on estimates of the ultimate cost of reported claims including future claim adjustment expenses.
The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors
and omissions; natural disasters; and injuries to the City's employees. The City maintains commercial all-risk
property insurance to cover damage to City facilities and contents and other losses includingbusiness 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.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 13. SUBSEQUENT EVENTS
NOTE 14. CONTINGENCIES
NOTE 15. JOINT VENTURES
A. Northwestern University
On January 28, 1985, the City adopted a Central Business Tax Increment City called the Downtown II
RedevelopmentArea, which consisted of 26 acres of contiguous land located in the northwestern portion of the
central business City of the City. The City comprisedeight blocks of land ownedby private parties, Northwestern
University, and the City at the date of adoption. The redevelopmentplan was formulated in accordance with the
Tax Increment City laws of the State of Illinois.
The City issued Series 2006, $10,290,000 general obligationbonds in July 2006. The proceeds are being used to
partially finance the City's long-range capital improvement program. The bonds bear interest at rates ranging
from 3.85% to 5%, and are payable in annual principal and interest amounts through December, 2026.
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 believesthat 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 receivedor receivablefrom grantor agenciesare subject to audit and adjustmentby
grantor agencies, principally the federal government.Any disallowedclaims, includingamounts already collected,
may constitute a liability of the applicable funds. The amount, if any, of the expenditures which may be
disallowedby the grantor cannot be determinedat this time although the City expects such amounts, if any, to be
immaterial.
In 1986, the City Council adopted a Statement of Understanding between the City and Northwestern University
(Northwestern)concerningthe developmentof approximately22 acres of the DowntownII 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.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 15. JOINT VENTURES – Continued
A. Northwestern University - Continued
B. Solid Waste Agency of Northern Cook County
As of December 31, 2003, the decisionwas made to dissolve the organization. The remainingassets 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, 2005, so there are no financial statements to report.
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 promoteand 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.
The authority to designate management, influence operations, and formulate budgets rests with the Board of
Directors and Executive Committee. No one member has the ability to significantly influence operations;
therefore, the Agency is not a component unit of any other governmental reporting entity.
The Agency is a municipal joint action agency created as of May 2, 1988 under the provisions of the
IntergovernmentCooperation 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 communitywho
serves a two-year term. Each director has one vote. The Board of Directors determinesthe generalpolicies 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.
On March 28, 1988, the Evanston City Council authorized agreementsprovidingfor the City's participation in the
Solid Waste Agencyof Northern Cook County (Agency)and in the interim financingof that Agency. The Agency
was planned and developedby the Northwest Municipal Conference,of which the City is a member. The agency
is empowered to plan, finance, construct, and operate a solid waste disposal system.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 15. JOINT VENTURES – Continued
B. Solid Waste Agency of Northern Cook County - Continued
Summary of Financial Position as of April 30, 2005:
Current assets $ 6,896,680
Restricted assets 1,269,497
Property, plant, and equipment 14,504,530
Debt issuance costs, net 162,840
Total assets $22,833,547
Current liabilities $ 4,121,980
Long-term debt, net of unamortized discount 9,727,956
Invested in capital assets, net of related debt 4,176,574
Restricted for debt service, net of accrued interest 1,223,121
Unrestricted net assets 3,583,916
Total liabilities and fund equity $22,833,547
Summary of Revenues and Expenses for the Year Ended April 30, 2005:
Total revenues $ 16,204,835
Total expenses (16,420,179)
Net (loss)$(215,344)
Complete financial statements for the agency can be obtained at 1616 East Golf Road, Des Plaines, IL 60016.
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 deliveriesto the Wheeling Transfer station for each
year. The City does not control the Agency's fiscal managementor operations nor is the City legally responsible
for any more than its share of the Agency's debt or operating deficits, if any.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 15. JOINT VENTURES – Continued
C. Evanston Housing Corporation
Statement of Financial Position as of December 31, 2005:
Cash and cash equivalents $ 2,281,896
Mortgage loans receivable 834,869
Total assets 3,116,765
Payables and accrued expenses 52,765
Notes payable 3,064,000
Total liabilities 3,116,765
Net Assets $-
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 audited financial statements of Evanston Housing Corporation for the year ended December 31, 2005 are
summarized as follows:
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 governingauthority to influenceactions 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 investmentincomeearned on
the funds not loaned to mortgagees.
The financial institutions' funds are advanced under Non-RecourseCollateral 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.
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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, 2005:
Total revenues $ 89,728
Total operating expenses (89,728)
Excess of revenues over expense $ -
NOTE 16. DEFERRED COMPENSATION PLAN
Plan balance at February 28, 2006 $29,452,518
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.
The City provides the Corporation with office space and staff support on a cost reimbursementbasis. Complete
financial statements for the Corporation can be obtained in the City's CommunityDevelopmentDepartment from
the Assistant Director, Housing Rehabilitation and Property Standards.
The assets of the plan are held in Trust (ICMA RetirementCorporation Deferred CompensationPlan and Trust),
with the City serving as trustee, for the exclusive benefit of the plan participants and their beneficiaries. The
assets cannot be diverted to any other purpose. The City's beneficial ownership of plan assets held in the ICMA
Retirement Trust is held for the further exclusive benefit of the plan participants and their beneficiaries.
The City of Evanston offers its elected officials and employees a deferred compensation plan created in
accordance with Internal Revenue Code Section 457. The plan is administered by the ICMA Retirement
Corporation. The plan, available to all City employees,permits them to defer a portion of their current salary to
all future years. The deferred compensation is not available to the participants until termination, retirement,
death, or an unforeseeable emergency occurs.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 17. DEFINED BENEFIT PENSION PLANS
Illinois Municipal Retirement Fund
A. Plan Description
The City maintains two separate single-employerretirementplans establishedby state statute for the City’s police
officers and firefighters. The City also participates in the Illinois Municipal Retirement Fund (IMRF), a statewi
multiple-employerpublic 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 recognizesthe appropriate tax revenues for the City on behalf of the Pension
Trust Funds and contributes those amounts into the Pension Trust Funds as the employer contribution.
The City 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
pensionplan that acts as a commoninvestmentand administrativeagent for local governmentsand 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 websi
at www.imrf.org/pubs/pubs_homepage.htm.
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.
Employeesparticipating in IMRF are required to contribute 4.50% of their annual covered salary. The member
rate is establishedby state statute. The City and Township are required to contribute at an actuarially determined
rate. The City’s rate for calendar years 2005 and 2004 were 7.64% and 3.97%, respectively, of payroll. The
employer contribution requirements are established and may be amended by the IMRF Board of Trustees.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 17. DEFINED BENEFIT PENSION PLANS - Continued
Illinois Municipal Retirement Fund - Continued
B. Funding Status and Progress
C. Annual Pension Cost
The City’s total payroll for the calendar year ended December 31, 2005 was $55,621,021. Of this amount,
$31,403,514 in payroll earnings were reported to and coveredby the IMRF system. The Township’s total payroll
for the year ended December 31, 2004 was $325,805. Of this amount, $325,805 in payroll earnings were
reported to and covered by the IMRF plan.
For December31, 2005, the City’s annual pension cost of $2,399,228 was equal to the City’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% investmentrate 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-retirementbenefit increases of 3% annually. The actuarial value of
IMRF assets was determinedusing techniquesthat smooth the effects of short-term volatility in the market value
of investmentsover a five-year period. The assumptions used for the 2005 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 remainingamortization period at December 31, 2005 was
10 years.
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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
Actuarial Percentage
Valuation Annual Pension of APC Net Pension
Date Cost (APC) Contributed Obligation
12/31/05 $ 2,399,228 100% -
12/31/04 1,173,858 100% -
12/31/03 508,785 100% -
Actuarial Percentage
Valuation Annual Pension of APC Net Pension
Date Cost (APC) Contributed Obligation
12/31/04 $ 3,877 100% -
12/31/03 3,767 100% -
12/31/02 4,302 100% -
Three-Year Trend Information for IMRF - Township
Three-Year Trend Information for IMRF - City
For December31, 2004, the Township’s annual pension cost of $3,877 was equal to the Township’s requiredand
actual contributions. The required contribution was determined as part of the December 31, 2002 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 investmentsover a five-year period. The assumptions used for the 2004 actuarial valuation were
based on the 1999-2001 experience study.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 17. DEFINED BENEFIT PENSION PLANS – Continued
Police and Firefighters' Pension Plans
D. Plan Descriptions
Participation in the plans at February 28, 2006 was:
Police Firefighters'
Retirees, disabled participants, and beneficiaries of
deceased retirees currently receiving benefits 146 114
Active plan members 159 107
Total 305 221
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%
Any police officer or firefighter who has creditable service of 20 years or more, has reached age 50, and is no
longerin the service, is entitledto a yearly pensionequal to one-halfof the salary attached to the rank held for one
year immediatelyprior 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.
The Police Pension Plan and Firefighters' Pension Plan are contributory, defined benefit public employee
retirement plans administeredby the City and a Board of Trustees for each Fund. All sworn City police officers
and firefightersare participants in the plans. The plans do not issue stand-alone financial reports and they are not
included in the report of a public employeeretirement system or another entity. The City's payroll for police and
firefighter employees covered by the plans for the year ended February 28, 2006 was $10,642,000 and
$7,684,000, respectively.
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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
E. Summary of Significant Accounting Policies
Basis of Accounting
Method Used to Value Investments
F. Contributions and Reserves
A police officer or firefighterwho 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 immediatelyprior
to retirementor separation in the case of a policeofficer and at the date of retirementor separation in the case of a
firefighter. The amount of the benefit is a tabular percentage of such salary ranging from 15% for 10 years of
service to 50% for 20 years of service. These benefit provisions and all other requirements are established by
state statute.
The Police and Firefighters' Pension Fund financial statements are prepared using the accrual basis of accounting.
Plan membercontributions are recognizedin the period the contributions are due. Employercontributions to each
plan are recognizedwhendue from the EmployerPensionContribution Fund. Benefitsand refunds are recognized
when due and payable in accordance with the terms of each plan.
Investments are reported at fair value. Short-term investments are reported at cost, which approximates fair
value. Securities traded on a national or international exchange are valued at the last reported sales price at
current exchange rates. Investments that do not have an established market are reported at estimated fair value.
Employee contribution rates are established by statute at 9.91% of a police officer’s salary and 9.46% of a
firefighter’ssalary. Accumulatedemployeecontributions are refundedif an employeeleaves coveredemployment
or dies before eight years of credited service in the case of police officers and 10 years in the case of firefighters.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 17. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans – Continued
F. Contributions and Reserves – Continued
Police Firefighters'
Annual required contribution $ 4,071,765 $ 3,317,158
Interest on net pension obligation 549,761 303,951
Adjustment to annual required contribution (464,219) (256,657)
Annual pension cost 4,157,307 3,364,452
Contributions made (3,221,523) (2,493,707)
Increase in net pension obligation 935,784 870,745
Net pension obligation at March 1, 2004 7,330,143 4,052,686
Net pension obligation at February 28, 2005 $ 8,265,927 $ 4,923,431
G. Concentration of Investments
The Firefighters' Pension Trust Fund had no significant investments (other than U.S. Government and U.S.
Government-guaranteedobligations) in any one organization that represented 5% or more of net assets available
for benefits.
The Police Pension Trust Fund had no significant investments(other than U.S. Governmentand U.S. Governmen
guaranteed obligations) in any one organization that represented 5% or more of net assets available for benefits.
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, 2005) and are as follows:
The difference between the total amount funded and the amount to be funded, as actuarially determined, is
recorded as the net pension obligation in the general long-term debt schedule. The total pension liability
calculated as the net pension liability dates forward from fiscal year 1987-88.
For employer contributions, the City’s budget policy is to fund pension plans at the funding level recommended
annually by the actuary. The General Fund is used to liquidate the net pension obligation.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 17. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans – Continued
H. Three-Year Trend Information – Pension Trust Funds
Fiscal Annual Pension Percentage of Net Pension
Year Ended Cost (APC)APC Contributed Obligation
Police 2/28/05 $ 4,157,307 73.87 % 8,265,927$
2/29/04 4,361,218 107.87 7,330,143
2/28/03 3,595,566 99.02 6,847,380
Firefighters' 2/28/05 $ 3,364,452 80.67 % 4,923,431$
2/29/04 3,091,174 106.37 4,052,686
2/28/03 2,733,813 100.63 3,869,516
The required supplementary information immediately follows the Notes to the Financial Statements.
-82-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 17. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans – Continued
I. Pensions - Detailed Statement of Net Assets
Firefighters' Police Total
Pension Pension Pension
Assets
Cash and short-term investments 6,516,290$ 9,313,822$ 15,830,112$
Receivables
Accrued interest 76,390 202,681 279,071
Due from other funds 1,503,103 1,785,246 3,288,349
Total Receivable 1,579,493 1,987,927 3,567,420
Investments, at fair value
U.S. Government obligations 14,926,378 22,997,210 37,923,588
Common stock 6,141,193 - 6,141,193
Mutual funds 11,490,155 24,104,974 35,595,129
Total Investments 32,557,726 47,102,184 79,659,910
Total Assets 40,653,509 58,403,933 99,057,442
Liabilities
Vouchers payable 83 3,079 3,162
Due to other funds - - -
Total Liabilities 83 3,079 3,162
Net assets held in trust for pension benefits 40,653,426$ 58,400,854$ 99,054,280$
-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 3,513,682$ 4,417,058$ 7,930,740$
Plan members 744,074 1,020,248 1,764,322
Total Contributions 4,257,756 5,437,306 9,695,062
Investment income
Net appreciation in
fair value of investments 1,328,817 2,104,782 3,433,599
Interest 965,261 1,517,732 2,482,993
Total investment income 2,294,078 3,622,514 5,916,592
Less investment expense 155,677 100,584 256,261
Net investment income 2,138,401 3,521,930 5,660,331
Total Additions 6,396,157 8,959,236 15,355,393
Deductions
Benefits 4,046,368 5,711,729 9,758,097
Refunds of contributions - 81,538 81,538
Administrative expense 23,785 35,029 58,814
Total Deductions 4,070,153 5,828,296 9,898,449
Net increase 2,326,004 3,130,940 5,456,944
Net assets held in trust for pension benefits
Beginning of year 38,327,422 55,269,914 93,597,336
End of year 40,653,426$ 58,400,854$ 99,054,280$
-84-
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
Actuarial Percentage
Actuarial Value of Funded Covered of Covered
Valuation Assets Ratio Payroll Payroll
Date (a) (a/b) ( c ) ((b-a)/c)
Firefighters' Pension
3/1/2005 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%
3/1/2003 33,905,858 63,214,068 29,308,210 53.64% 7,493,000 391.14%
3/1/2002 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%
3/1/2000 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
3/1/2005 55,269,914$ 106,426,694$ 51,156,780 51.93% 10,642,000$ 480.71%
3/1/2004 54,469,873 101,824,016 47,354,143 53.49% 10,217,000 463.48%
3/1/2003 48,533,981 98,307,729 49,773,748 49.37% 10,074,000 494.08%
3/1/2002 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 36,649,435 57.25% 9,443,000 388.11%
3/1/2000 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)
12/31/2005 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%
12/31/1996 38,803,600 41,412,067 2,608,467 93.70% 19,608,848 13.30%
Illinois Municipal Retirement Fund (Township)
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 -
12/31/1995 546,997 484,603 (62,394) 112.88% 346,067 -
Information in this table has been presented for as many years as available.
(b)
Unfunded
AAL
(UAAL)
(b-a)
February 28, 2006
Actuarial Accrued
Liability (AAL)
Projected Unit Credit
-85-
CITY OF EVANSTON, ILLINOIS
Firefighters and Police Pension Funds
Schedules of Employer Contribution
Required Supplementary Information
Annual Annual
Fiscal Required Percentage Required Percentage
Year Contribution Contributed Contribution Contributed
2005 3,317,158$ N/A 4,071,765$ N/A
2004 3,041,911 81.98% 4,274,043 75.37%
2003 2,685,046 108.30% 3,505,934 110.63%
2002 2,355,236 102.75% 3,224,902 101.82%
2001 2,209,466 101.34% 2,990,038 101.12%
2000 2,145,764 101.42% 2,764,148 101.33%
1999 2,017,901 101.15% 2,707,362 101.14%
1998 2,025,630 101.07% 2,667,604 101.20%
1997 1,986,878 99.58% 2,526,744 99.92%
1996 2,197,623 100.69% 2,552,331 101.09%
February 28, 2006
Firefighters' Pension Fund Police Pension Fund
-86-
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, 2006
Original and
Final Budget Actual Variance
Revenues
Taxes $39,907,000 $ 41,852,972 $ 1,945,972
Licenses and permits 7,794,950 9,164,065 1,369,115
Intergovernmental 14,715,600 15,254,462 538,862
Charges for services 6,711,150 6,904,796 193,646
Fines 4,355,500 3,781,020 (574,480)
Investment income 232,700 575,281 342,581
Miscellaneous 4,605,600 4,387,070 (218,530)
Total Revenues 78,322,500 81,919,666 3,597,166
Expenditures
General management and support 12,602,500 13,862,563 (1,260,063)
Public safety 28,701,200 29,892,818 (1,191,618)
Public works 11,727,800 11,587,586 140,214
Health and human resource development 5,337,400 4,565,703 771,697
Recreation and cultural opportunities 16,345,800 16,187,980 157,820
Housing and economic development 2,853,700 2,902,902 (49,202)
Pensions 4,157,400 4,627,930 (470,530)
Total Expenditures 81,725,800 83,627,482 (1,901,682)
(Deficiency) of Revenues (under) Expenditures (3,403,300) (1,707,816)1,695,484
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 309,000 884,043 575,043
Washington National TIF Debt Service Fund 137,900 137,900 -
Southwest TIF II Debt Service Fund 128,800 128,800 -
Southwest TIF I Debt Service Fund 21,200 21,200 -
Maple Avenue Garage - (300,000)(300,000)
Capital Improvement Fund 265,200 265,200 -
Fleet Fund - (19,000) (19,000)
Special Assessment Capital Project Fund 31,800 31,800 -
Water Fund 2,693,600 2,693,600 -
Capital Improvement Fund (813,500) (813,500)-
General Obligation Debt Service Fund (175,000) (125,750)49,250
3,403,300 3,708,593 305,293
Excess of Revenues and Other Financing Sources
over Expenditures and Other Financing Uses -$ 2,000,777 2,000,777$
Fund Balance
Beginning of year 31,979,049
End of yea 33,979,826$
-87-
CITY OF EVANSTON, ILLINOIS
Notes to the Required Supplementary Information
NOTE 1. FIREFIGHTERS' AND POLICE PENSION FUNDS
Firefighters'
Pension
Fund
Valuation date
Actuarial cost method
Amortization method
Remaining amortization period
Asset valuation method
NOTE 2. DIGEST OF CHANGES - IMRF
The principal changes were:
- For regular members, fewer normal and early retirements are expected to occur.
NOTE 3. EXCESS OF ACTUAL EXPENDITURES OVER BUDGET IN INDIVIDUAL FUNDS
Fund Actual Budget Excess
General Obligation Debt $ 10,289,539 $ 9,881,447 $ 408,092
Special Service District No. 5 452,705 430,820 21,885
Washington National Tax Increment District 4,836,563 1,743,350 3,093,213
Town Fund 217,369 215,550 1,819
payroll, closed period
28 years
Fair market value
The information presented in the required supplementary schedules was determinedas part of the actuarial
valuations at the dates indicated. Additional information as of the latest actuarial valuation follows:
Projected Unit Credit
Level percentage of
March 1, 2005
Projected Unit Credit
Level percentage of
The followingCity funds had an excess of actual budgetary expenditures over original and final budget for
the year ended February 28, 2006:
The actuarial assumptions used to determinethe actuarial accrued liability for 2005 are based on the 2002-
2004 Experience Study.
- The 1994 Group Annuity Mortality implemented
28 years
Fair market value
payroll, closed period
March 1, 2005
Police
Pension
Fund
-88-
GOVERNMENTAL FUND TYPES
City Funds
Mayor's Special Housing - to account for costs associated with housing-related programs of the City.
Community Development Loan - to account for residential rehabilitation loans to residents.
Continued
Community Development Block Grant - to account for revenues and expenditures of the community block grant
program. Financing is provided by the federal government on a reimbursement basis in accordance with federal
formula. Expenditures are made in accordance with requirements of federal law.
Special Service District No. 4 - to account for promotion, advertisement, and street maintenance costs of the area
located in the City's central business district. Financing is provided by the City through an annual property tax
levy.
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.
Nonmajor Governmental Funds
Special Revenue Funds
Special revenue funds are used to account for specific revenues that are legally restricted to expenditures for
particular purposes.
Motor Fuel Tax - to account for the operation of street maintenance programs and capital projects as authorized
by the Illinois Department of Transportation. Financing is provided from the City's share of gasoline taxes.
HOME - to account for the activity of the HOME program. Financing is provided by the federal government.
Expenditures are made in accordance with the requirements of federal law.
Economic Development - to account for cost associated with economic development activities of the City.
Financing is provided primarily by real estate transfer tax revenues.
Emergency Telephone System - to account for revenues and expenditures for 911 emergency telephone service.
Financing is provided by network connection surcharges.
Library - to account for the activity of the funds donated to the library. These funds are invested at the direction
of the library board and are used for library acquisitions.
Neighborhood Improvement - to account for a portion of the sales tax revenues derived from retail sales of the
Home Depot U.S.A. Inc. store in Evanston. Sales tax revenues allocated to this fund are to be expended on
public projects that will benefit the immediate neighborhood of the store.
Township Funds
Town - to account for general adminstrative services.
Debt Service funds are used to account for the servicing of general long-term debt.
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.
Special Assessment - to account for capital improvements financed by special assessments on property holder
and public benefit contributions from the City.
Capital Projects Funds
Capital projects are used to account for the acquisition and construction of major capital facilities other than
those financed by proprietary funds and trust funds.
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.
Howard Ridge Tax Increment District - accumulated monies for the principal and interest payments on debt
issued for this special taxing district.
General Assistance - to account for the assistance given to persons and/or families to meet their basic living
expenses.
Debt Service Funds
Special 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.
Special Revenue Funds - Continued
THIS PAGE INTENTIONALLY LEFT BLANK
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Balance Sheet
Emergency
Motor Economic Telephone
Fuel Tax Development System Library
Cash and equivalents 2,540,799$ 1,113,210$ 2,217,430$ 62,125$
Investments - - - 2,425,919
Receivables
Property taxes (net of allowance)
Current year levy - - - -
Notes - - - -
Accounts - - - -
Allowance - - - -
Special assessments - - - -
Accrued interest - - - 2,933
Other - 19,273 147,674 -
Due from other governments 179,094 - - -
Due from other funds 109 41,586 - -
Total Assets 2,720,002$ 1,174,069$ 2,365,104$ 2,490,977$
Liabilities
Vouchers payable 46,321$ 47,900$ 37,454$ -$
Accrued payroll - 2,664 4,956 -
Other - - - -
Due to other governments - - - -
Due to other funds 367,068 3,613 1,852 -
Unearned revenues - - - -
Total Liabilities 413,389 54,177 44,262 -
Fund Balances
Reserved for notes receivable - - - -
Reseved for debt service - - - -
Unreserved
Capital projects 2,306,613 - - 2,490,977
Undesignated - 1,119,892 2,320,842 -
Total Fund Balances 2,306,613 1,119,892 2,320,842 2,490,977
Total Liabilities and Fund Balances 2,720,002$ 1,174,069$ 2,365,104$ 2,490,977$
Liabilities and Fund Balances
- 89 -
Assets
February 28, 2006
Special Revenue
Special
Mayor's Community Community Service Employer Total
Neighborhood Special Development Development District Pension City
Improvement Housing HOME Block Grant Loan No. 4 Contribution Funds
22,498$ 92,808$ 204,443$ 4,626$ 656,748$ 2,287$ -$ 6,916,974$
- - - - - - - 2,425,919
- - - - - 238,191 6,235,012 6,473,203
- 1,444,886 3,201,381 12,799 1,473,105 - - 6,132,171
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - 2,933
- 8,667 - - - - - 175,614
- - - 116,677 - - - 295,771
20,000 - - 14,788 75,000 - - 151,483
42,498$ 1,546,361$ 3,405,824$ 148,890$ 2,204,853$ 240,478$ 6,235,012$ 22,574,068$
-$ -$ 91,826$ 56,912$ 9,924$ -$ -$ 290,337$
- - - 4,037 - - - 11,657
- - - - 1,985 - - 1,985
- - 62,862 - 4,603 - - 67,465
- - - 75,142 109 20,000 2,197,822 2,665,606
- - - - - 134,617 4,037,190 4,171,807
- - 154,688 136,091 16,621 154,617 6,235,012 7,208,857
- 1,444,886 3,201,381 12,799 1,473,105 - - 6,132,171
- - - - - - - -
- - - - - - - 4,797,590
42,498 101,475 49,755 - 715,127 85,861 - 4,435,450
42,498 1,546,361 3,251,136 12,799 2,188,232 85,861 - 15,365,211
42,498$ 1,546,361$ 3,405,824$ 148,890$ 2,204,853$ 240,478$ 6,235,012$ 22,574,068$
Continued
- 90 -
Special Revenue
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Balance Sheet - Continued
Total
Town General Township
Fund Assistance Funds Total
Cash and equivalents 189,023$ 532,160$ 721,183$ 7,638,157$
Investments - - - 2,425,919
Receivables
Property taxes (net of allowance)
Current year levy 204,371 566,489 770,860 7,244,063
Notes - - - 6,132,171
Accounts - - - -
Allowance - - - -
Special assessments - - - -
Accrued interest - - - 2,933
Other - 23,443 23,443 199,057
Due from other governments - - - 295,771
Due from other funds 200,786 - 200,786 352,269
Total Assets 594,180$ 1,122,092$ 1,716,272$ 24,290,340$
Liabilities
Vouchers payable 32,511$ 30,080$ 62,591$ 352,928$
Accrued payroll - - - 11,657
Other - - - 1,985
Due to other governments - - - 67,465
Due to other funds - 200,786 200,786 2,866,392
Unearned revenues 189,717 527,782 717,499 4,889,306
Total Liabilities 222,228 758,648 980,876 8,189,733
Fund Balances
Reserved for notes receivable - - - 6,132,171
Reseved for debt service - - - -
Unreserved
Capital projects - - - 4,797,590
Undesignated 371,952 363,444 735,396 5,170,846
Total Fund Balances 371,952 363,444 735,396 16,100,607
Total Liabilities and Fund Balances 594,180$ 1,122,092$ 1,716,272$ 24,290,340$
Liabilities and Fund Balances
- 91 -
Assets
February 28, 2006
Special Revenue
Central Howard Washington Howard
Special Business Southwest Hartrey National Ridge
General Service Tax Tax Tax Tax Tax
Obligation District Increment Increment Increment Increment Increment
Debt No.5 District District District District District Total
621,113$ 39,596$ 597,859$ 883,631$ 2,461,808$ 3,748,750$ -$ 8,352,757$
1,498,753 - 7,471,346 - - 1,999,000 - 10,969,099
7,500,121 416,819 6,709,445 557,665 1,140,225 1,525,951 84,284 17,934,510
- - - - - - - -
- - - - - - 95,220 95,220
- - - - - - - -
- - - - - - - -
20,983 - 28,366 - - 15,055 - 64,404
- - - - - - - -
- - - - - - - -
1,787,137 - - - - 20,000 - 1,807,137
11,428,107$ 456,415$ 14,807,016$ 1,441,296$ 3,602,033$ 7,308,756$ 179,504$ 39,223,127$
704$ -$ 1,667$ -$ -$ 5,609$ -$ 7,980$
- - 2,813 - - - - 2,813
- - - - - - - -
- - - - - - - -
- - 125,622 - - - 49,303 174,925
4,876,099 225,769 4,323,708 283,965 668,404 832,623 45,967 11,256,535
4,876,803 225,769 4,453,810 283,965 668,404 838,232 95,270 11,442,253
- - - - - - - -
6,551,304 230,646 10,353,206 1,157,331 2,933,629 6,470,524 84,234 27,780,874
- - - - - - - -
- - - - - - - -
6,551,304 230,646 10,353,206 1,157,331 2,933,629 6,470,524 84,234 27,780,874
11,428,107$ 456,415$ 14,807,016$ 1,441,296$ 3,602,033$ 7,308,756$ 179,504$ 39,223,127$
Continued
- 92 -
Debt Service
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Balance Sheet - Continued
Central
Business Total
Tax Nonmajor
Capital Increment Special Governmental
Improvements District Assessment Total Funds
Cash and equivalents 4,266,843$ 4,217,608$ 1,809,663$ 10,294,114$ 26,285,028$
Investments 9,938,158 - - 9,938,158 23,333,176
Receivables
Property taxes (net of allowance)
Current year levy - - - - 25,178,573
Notes 23,700 96,649 - 120,349 6,252,520
Accounts - - - - 95,220
Allowance - (96,649) - (96,649) (96,649)
Special assessments - - 769,274 769,274 769,274
Accrued interest 26,138 - - 26,138 93,475
Other 300 - - 300 199,357
Due from other governments - - - - 295,771
Due from other funds - 2,610 222 2,832 2,162,238
Total Assets 14,255,139$ 4,220,218$ 2,579,159$ 21,054,516$ 84,567,983$
Liabilities
Vouchers payable 424,114$ 2,625$ -$ 426,739$ 787,647$
Accrued payroll - - - - 14,470
Other - - - - 1,985
Due to other governments - - - - 67,465
Due to other funds 79,258 - - 79,258 3,120,575
Unearned revenues - - 769,274 769,274 16,915,115
Total Liabilities 503,372 2,625 769,274 1,275,271 20,907,257
Fund Balances
Reserved for notes receivable 23,700 - - 23,700 6,155,871
Reseved for debt service - - - - 27,780,874
Unreserved
Capital projects 13,728,067 4,217,593 1,809,885 19,755,545 24,553,135
Undesignated - - - - 5,170,846
Total Fund Balances 13,751,767 4,217,593 1,809,885 19,779,245 63,660,726
Total Liabilities and Fund Balances 14,255,139$ 4,220,218$ 2,579,159$ 21,054,516$ 84,567,983$
Concluded
Liabilities and Fund Balances
- 93 -
Capital Projects
Assets
February 28, 2006
THIS PAGE INTENTIONALLY LEFT BLANK
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Fund
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balance
Emergenc
Moto Economi Telephon
Fuel Ta Developmen Syste Librar
Revenue
Taxes -$ 1,576,389$ 1,071,951$ -$
Special assessment - - - -
Intergovernmenta 2,158,221 - - -
Investment incom 75,950 - - 244,042
Earnfare - - - -
SSI reimbursemen - - - -
Emergency assistance reimbursemen - - - -
Miscellaneou - - - 101,996
Total Revenue 2,234,171 1,576,389 1,071,951 346,038
Expenditure
Curren
General management and suppor - - - -
Public safet - - 1,251,414 -
Public works 1,554,835 - - -
Recreation and cultural opportunitie - - - 117,000
Housing and economic developmen - 763,751 - -
Debt servic
Principal - - - -
Interes - - - -
Fiscal agent fee - - - -
Capital outla - - - -
Total Expenditure 1,554,835 763,751 1,251,414 117,000
Excess (Deficiency) of Revenues
Over (Under) Expenditure 679,336 812,638 (179,463) 229,038
Other Financing Sources (Uses)
Proceeds from sale of bond - - - -
Escrow funding - - - -
Premiums and discoun - - - -
Capitalized Interest Incom - - - -
Capitalized Interest Expens - - - -
Transfers in (out)
General Fun (772,500) - - -
Economic Developmen - - - -
Community Development Block Gran - - - -
Community Development Loa - - - -
Town Fun - - - -
General Assistance Fun - - - -
General Obligation Debt Service Fun - - - -
Central Business Tax Increment Distric - - - -
Washington National Tax Increment Distric - - - -
Howard Ridge Tax Increment Distric - 37,521 - -
Special Assesstment Capital Projec - - - -
Washington National Tax Increment Distric - - - -
Water Fun - - - -
Sewer Fun - - - -
Maple Avenue Garage Fun - (650,000) - -
Fleet Fun - - - -
Total Other Financing Sources (Uses (772,500) (612,479) - -
Net Change in Fund Balance (93,164) 200,159 (179,463) 229,038
Fund Balances -Beginning of Yea 2,399,777 919,733 2,500,305 2,261,939
Fund Balances - End of Year 2,306,613$ 1,119,892$ 2,320,842$ 2,490,977$
- 94 -
Year ended February 28, 200
Special Revenue
Specia
Mayor'Communit Communit Servic Employe Total
Neighborhoo Specia Developmen Development Distric Pensio Cit
Improvemen Housin HOME Block Gran Loa No. 4 Contributio Funds
20,000$ -$ -$ -$ -$ 255,430$ 7,930,740$ 10,854,510$
- - - - - - - -
- - 730,230 2,342,426 (2,857) - - 5,228,020
- 11,524 20,809 - 3,849 330 - 356,504
- - - - - - - -
- - - - - - - -
- - - - - - - -
- 47,444 32,807 35,225 - - - 217,472
20,000 58,968 783,846 2,377,651 992 255,760 7,930,740 16,656,506
- - - - - - - -
- - - - - - 7,930,740 9,182,154
- - - - - - - 1,554,835
- - - - - - - 117,000
- 174,586 79,490 2,457,202 20,924 245,000 - 3,740,953
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- 174,586 79,490 2,457,202 20,924 245,000 7,930,740 14,594,942
20,000 (115,618) 704,356 (79,551) (19,932) 10,760 - 2,061,564
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- (31,800) - - - - - (804,300)
- - - - - - - -
- - - - (79,551) - - (79,551)
- - - 79,551 - - - 79,551
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - 37,521
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - (650,000)
- - - - - - - -
- (31,800) - 79,551 (79,551) - - (1,416,779)
20,000 (147,418) 704,356 - (99,483) 10,760 - 644,785
22,498 1,693,779 2,546,780 12,799 2,287,715 75,101 - 14,720,426
42,498$ 1,546,361$ 3,251,136$ 12,799$ 2,188,232$ 85,861$ -$ 15,365,211$
Continue
- 95 -
Special Revenue
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Fund
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances - Continue
Tota
Town General Township
Fund Assistanc Funds Tota
Revenue
Taxes 303,822$ 792,836$ 1,096,658$ 11,951,168$
Special assessment - - - -
Intergovernmenta 41,218 - 41,218 5,269,238
Investment incom 1,334 2,726 4,060 360,564
Earnfare - 739 739 739
SSI reimbursemen - 42,659 42,659 42,659
Emergency assistance reimbursemen - 66,008 66,008 66,008
Miscellaneou - - - 217,472
Total Revenue 346,374 904,968 1,251,342 17,907,848
Expenditure
Curren
General management and suppor 217,369 883,850 1,101,219 1,101,219
Public safet - - - 9,182,154
Public works - - - 1,554,835
Recreation and cultural opportunitie - - - 117,000
Housing and economic developmen - - - 3,740,953
Debt servic
Principal - - - -
Interes - - - -
Fiscal agent fee - - - -
Capital outla - - - -
Total Expenditure 217,369 883,850 1,101,219 15,696,161
Excess (Deficiency) of Revenues
Over (Under) Expenditure 129,005 21,118 150,123 2,211,687
Other Financing Sources (Uses)
Proceeds from sale of bond - - - -
Escrow funding - - - -
Premiums and discoun - - - -
Capitalized Interest Incom - - - -
Capitalized Interest Expens - - - -
Transfers in (out)
General Fun - - - (804,300)
Economic Developmen - - - -
Community Development Block Gran - - - (79,551)
Community Development Loa - - - 79,551
Town Fun - 123,171 123,171 123,171
General Assistance Fun (123,171) - (123,171) (123,171)
General Obligation Debt Service Fun - - - -
Central Business Tax Increment Distric - - - -
Washington National Tax Increment Distric - - - -
Howard Ridge Tax Increment Distric - - - 37,521
Special Assesstment Capital Projec - - - -
Washington National Tax Increment Distric - - - -
Water Fun - - - -
Sewer Fun - - - -
Maple Avenue Garage Fun - - - (650,000)
Fleet Fun - - - -
Total Other Financing Sources (Uses (123,171) 123,171 - (1,416,779)
Net Change in Fund Balance 5,834 144,289 150,123 794,908
Fund Balances -Beginning of Yea 366,118 219,155 585,273 15,305,699
Fund Balances - End of Year 371,952$ 363,444$ 735,396$ 16,100,607$
- 96 -
Special Revenue
Year ended February 28, 200
Central Howar Washington Howar
Special Busines Southwes Hartre Nationa Ridg
Genera Servic Tax Tax Tax Tax Tax
Obligatio Distric Incremen Incremen Incremen Incremen Incremen
Deb No.5 Distric Distric Distric Distric Distric Tota
8,835,654$ 451,279$ 8,634,023$ 580,477$ 1,351,654$ 1,812,820$ 133,448$ 21,799,355$
- - - - - - - -
- - - - - - - -
387,201 595 163,760 21,524 120,936 80,165 89 774,270
- - - - - - - -
- - - - - - - -
- - - - - - - -
5 - - - - - - 5
9,222,860 451,874 8,797,783 602,001 1,472,590 1,892,985 133,537 22,573,630
804 17,142 111,446 - - 1,446 6,435 137,273
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
6,380,000 255,000 295,000 225,000 395,000 140,000 - 7,690,000
3,623,931 183,748 357,041 58,500 288,620 1,345,052 - 5,856,892
183,826 - 25,947 - - 113,052 - 322,825
- - - - - - - -
10,188,561 455,890 789,434 283,500 683,620 1,599,550 6,435 14,006,990
(965,701) (4,016) 8,008,349 318,501 788,970 293,435 127,102 8,566,640
6,205,000 - - - - - - 6,205,000
(6,626,389) - - - - - - (6,626,389)
479,204 - - - - - - 479,204
354,581 - - - - - - 354,581
- - - - - - - -
125,750 - (884,043) (21,200) (128,800) (137,900) - (1,046,193)
- - - - - - (37,521) (37,521)
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - 845,315 - 845,315
- - (845,315) - - - - (845,315)
- - - - - - - -
300,500 - - - - - - 300,500
- - - - - - (5,347) (5,347)
- - (268,449) - - - - (268,449)
- - (899,602) - - - - (899,602)
- - (4,500,000) - - - - (4,500,000)
- - (51,650) - - - - (51,650)
838,646 - (7,449,059) (21,200) (128,800) 707,415 (42,868) (6,095,866)
(127,055) (4,016) 559,290 297,301 660,170 1,000,850 84,234 2,470,774
6,678,359 234,662 9,793,916 860,030 2,273,459 5,469,674 - 25,310,100
6,551,304$ 230,646$ 10,353,206$ 1,157,331$ 2,933,629$ 6,470,524$ 84,234$ 27,780,874$
Continue
- 97 -
Debt Service
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Fund
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances - Continue
Central
Busines Total
Tax Nonmajo
Capita Incremen Specia Governmenta
Improvement Distric Assessmen Tota Funds
Revenue
Taxes -$ -$ -$ -$ 33,750,523$
Special assessment - - 545,655 545,655 545,655
Intergovernmenta 582,700 - - 582,700 5,851,938
Investment incom 362,175 100,271 56,267 518,713 1,653,547
Earnfare - - - - 739
SSI reimbursemen - - - - 42,659
Emergency assistance reimbursemen - - - - 66,008
Miscellaneou 1,098,441 - - 1,098,441 1,315,918
Total Revenue 2,043,316 100,271 601,922 2,745,509 43,226,987
Expenditure
Curren
General management and suppor 55,037 53,326 3,149 111,512 1,350,004
Public safet - - - - 9,182,154
Public works - - - - 1,554,835
Recreation and cultural opportunitie - - - - 117,000
Housing and economic developmen - - - - 3,740,953
Debt servic
Principal - - - - 7,690,000
Interes - - - - 5,856,892
Fiscal agent fee - - - - 322,825
Capital outla 9,667,853 45,000 - 9,712,853 9,712,853
Total Expenditure 9,722,890 98,326 3,149 9,824,365 39,527,516
Excess (Deficiency) of Revenues
Over (Under) Expenditure (7,679,574) 1,945 598,773 (7,078,856) 3,699,471
Other Financing Sources (Uses)
Proceeds from sale of bond 9,540,000 - 465,000 10,005,000 16,210,000
Escrow funding - - - - (6,626,389)
Premiums and discoun 699,720 30,049 729,769 1,208,973
Capitalized Interest Incom - - - - 354,581
Capitalized Interest Expens (354,581) - - (354,581) (354,581)
Transfers in (out)
General Fun 548,300 - (31,800) 516,500 (1,333,993)
Economic Developmen - - - - (37,521)
Community Development Block Gran - - - - (79,551)
Community Development Loa - - - - 79,551
Town Fun - - - - 123,171
General Assistance Fun - - - - (123,171)
General Obligation Debt Service Fun - - (300,500) (300,500) (300,500)
Central Business Tax Increment Distric - - - - 845,315
Washington National Tax Increment Distric - - - - (845,315)
Howard Ridge Tax Increment Distric - - - - 37,521
Special Assesstment Capital Projec - - - - 300,500
Washington National Tax Increment Distric - - - - (5,347)
Water Fun (3,300,000) - - (3,300,000) (3,568,449)
Sewer Fun - - - - (899,602)
Maple Avenue Garage Fun - - - - (5,150,000)
Fleet Fun (105,000) - - (105,000) (156,650)
Total Other Financing Sources (Uses 7,028,439 - 162,749 7,191,188 (321,457)
Net Change in Fund Balance (651,135) 1,945 761,522 112,332 3,378,014
Fund Balances -Beginning of Yea 14,402,902 4,215,648 1,048,363 19,666,913 60,282,712
Fund Balances - End of Year 13,751,767$ 4,217,593$ 1,809,885$ 19,779,245$ 63,660,726$
Conclude
Year ended February 28, 200
- 98 -
Capital Projects
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Taxes
Property
Current year levy 16,700,000$ 16,433,625$ (266,375)$
Prior year levy 25,000 214,385 189,385
Total Property Taxes 16,725,000 16,648,010 (76,990)
Personal Property Replacement Tax 495,500 878,108 382,608
Other Taxes
Auto rental 34,000 32,372 (1,628)
Sales - home rule 5,500,000 5,611,780 111,780
Utility 8,200,000 8,858,216 658,216
State use 714,500 897,667 183,167
Athletic contest 500,000 663,896 163,896
Foreign fire insurance 50,000 - (50,000)
Cigarette 378,000 400,492 22,492
Evanston motor fuel 310,000 273,915 (36,085)
Real estate transfer 4,000,000 4,008,668 8,668
Poured liquor 1,500,000 1,772,039 272,039
Affordable housing demolition tax - 10,000 10,000
Parking 1,500,000 1,797,809 297,809
Total Other Taxes 22,686,500 24,326,854 1,640,354
Total Taxes 39,907,000 41,852,972 1,945,972
Continued
Year ended February 28, 2006
- 99 -
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Original
and Final
Budget Actual Variance
Licenses and Permits
Vehicle licenses 2,100,000$ 2,128,640$ 28,640$
Business licenses 90,000 80,195 (9,805)
Long-term care licenses 112,400 97,980 (14,420)
Rooming house licenses 194,700 169,048 (25,652)
Pet licenses 40,000 46,930 6,930
Bicycle licenses 50 - (50)
Farmers' market licenses 27,700 24,300 (3,400)
Contractors' licenses 90,000 85,690 (4,310)
Other licenses - 880 880
Building permits 3,100,000 3,973,861 873,861
Plumbing permits 160,000 204,177 44,177
Electrical permits 175,000 210,450 35,450
Elevator permits 55,000 48,270 (6,730)
Signs and awning permits 10,000 9,306 (694)
Combustion equipment permits 180,000 330,420 150,420
Commercial driveway permits 700 22,161 21,461
Other permits 250,000 347,380 97,380
Liquor licenses 275,000 412,708 137,708
Fire alarm permit fees - (975) (975)
Cable franchise fee 660,000 657,546 (2,454)
Nicor franchise fee 50,000 88,784 38,784
Northwestern/Centel easement 40,000 47,000 7,000
Residents' parking permits 116,000 118,141 2,141
Visitor's parking permits 18,000 13,608 (4,392)
Sign license fee 35,000 36,765 1,765
Alarm panel franchise fee 14,400 10,800 (3,600)
Plat approval and sign appeal fees 1,000 - (1,000)
Total Licenses and Permits 7,794,950 9,164,065 1,369,115
Continued
- 100 -
Year ended February 28, 2006
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Original
and Final
Budget Actual Variance
Intergovernmental - Revenue from
Other Agencies
Health Department SEED Grant 400,000$ 85,624$ (314,376)$
Preventive health block grant 56,600 41,810 (14,790)
Fire department training grant 600 - (600)
Illinois state health department
basic services grant 63,300 95,029 31,729
Bio-terrorrism grant 80,000 - (80,000)
Family planning grant 54,500 55,556 1,056
Hearing and vision grant 6,400 13,767 7,367
ICJIA grant - community service 15,000 - (15,000)
ICJIA grant - victim 60,000 - (60,000)
Other federal aid 14,100 - (14,100)
Violent crime victim assistance grant 24,700 15,000 (9,700)
Federal police grant 44,400 - (44,400)
Civil defense grants 20,000 11,372 (8,628)
Retailer and service occupation tax 8,200,000 8,484,692 284,692
State income tax 5,000,000 5,637,725 637,725
State highway maintenance 90,000 94,099 4,099
District 65 dental 1,500 3,000 1,500
Commission on Aging grant 33,000 31,998 (1,002)
Other state / county grants - 240,843 240,843
Police training grant 8,000 - (8,000)
Dental sealants grant 4,200 2,367 (1,833)
Lead grant 4,000 524 (3,476)
Federal grant / Aid - 20,700 20,700
Illinois Tobacco Free Community 25,000 25,593 593
Art council - 47,440 47,440
Kid care agreement 11,300 6,150 (5,150)
HUD emergency shelter grant 88,100 89,958 1,858
Leadbase paint control grant 178,000 8,921 (169,079)
Genetic education grant 10,200 5,100 (5,100)
Tanning parlor inspection - 200 200
Prostate cancer awareness - 1,327 1,327
Family case management grant 189,800 193,817 4,017
Infant immunization grant 2,900 - (2,900)
Teen parent service program 30,000 38,600 8,600
Vector prevention grant - 3,241 3,241
Access to care - 9 9
Total Intergovernmental - Revenue
from Other Agencies 14,715,600 15,254,462 538,862
Continued
Year ended February 28, 2006
- 101 -
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Original
and Final
Budget Actual Variance
Charges for Services
Recreation
Recreation - program 4,084,500$ 4,310,448$ 225,948$
Total Recreation 4,084,500 4,310,448 225,948
Library
Film rentals 63,000 44,107 (18,893)
Books, lost and paid 21,000 16,781 (4,219)
Reserves 5,600 6,461 861
Miscellaneous revenues 3,500 1,345 (2,155)
Rental books 8,600 2,004 (6,596)
Non-resident cards 3,000 3,929 929
Copy machine charges 26,000 21,259 (4,741)
Library meeting room rentals 9,000 11,260 2,260
Rental income 27,000 27,003 3
State library per capita grant 92,700 92,075 (625)
CD-ROM software rentals 2,000 1,025 (975)
Total Library 261,400 227,249 (34,151)
Continued
- 102 -
Year ended February 28, 2006
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Original
and Final
Budget Actual Variance
Charges for Services
Other Service Charges
Family planning clinic -$ 1,292 $ 1,292
Dental clinic fees and check up fees 68,000 68,540 540
Venereal disease program - Skokie 2,250 2,250 -
Birth and death records 131,000 128,996 (2,004)
TB nursing services 12,000 12,102 102
Flu and pneumonia program 23,500 10,852 (12,648)
Health clinic fees - immunizations 4,200 2,961 (1,239)
Health clinic fees - sexually transmitted disease 8,000 - (8,000)
Health clinic fees - TB 3,500 3,680 180
Health clinic fees - lab 16,200 13,743 (2,457)
Health clinic fees - food establishment 150,000 151,072 1,072
Health clinic fees - school physicals 2,300 1,541 (759)
S.T.D.O. and S.T.D.E. - 8,255 8,255
Dental check up 9,000 9,545 545
Emergency dental exam 100 70 (30)
X-Ray - 40 40
Amalgam filling 900 110 (790)
Resin filling 4,000 4,695 695
Sedative filling 100 10 (90)
Extraction 100 495 395
Pulpotomy 800 905 105
Sealant office visit 700 647 (53)
Additional sealant 100 30 (70)
Temporary license fee 3,300 2,537 (763)
Food delivery vehicle 6,500 6,545 45
Scavenger truck 2,300 2,340 40
Beverage snack vending machine 22,000 34,624 12,624
Tobacco license 15,000 12,750 (2,250)
Funeral director license - 6,330 6,330
Temporary funeral direct license - 5,942 5,942
Ambulance services 470,000 638,292 168,292
Towing charges - (10,010) (10,010)
Weights and measures examination 1,000 920 (80)
Senior taxi coupon sales 68,000 97,779 29,779
Recycling - material sales - 1,200 1,200
Background check daycare providers - (180) (180)
Police report fees 15,000 17,477 2,477
Child health 1,700 - (1,700)
Food vending machine 2,000 36 (1,964)
Inoculation funding 384,800 - (384,800)
Continued
Year ended February 28, 2006
- 103 -
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Original
and Final
Budget Actual Variance
Charges for Services - Continued
Other Service Charges - Continued
Fire report fees 900$ 1,020$ 120$
Fire cost recovery charges 5,000 7,869 2,869
Fire building inspection 8,000 1,750 (6,250)
Other service charges 4,000 2,108 (1,892)
Condo conversion application 70,000 80,101 10,101
Zoning fees 40,000 59,352 19,352
Alarm panel subscription fees 100,000 205,889 105,889
Skokie animal boarding fees 1,000 430 (570)
Passport execution fees 10,000 5,805 (4,195)
Sanitation classes and charges 60,000 73,090 13,090
Wood recycling - 16,919 16,919
Plan review 10,000 6,130 (3,870)
Recycling service charge and penalty 628,000 668,223 40,223
Total Other Service Charges 2,365,250 2,367,099 1,849
Total Charges for Services 6,711,150 6,904,796 193,646
Fines
Ticket fines 3,640,000 2,843,211 (796,789)
Regular fines 185,000 272,911 87,911
Housing code violations - 29,279 29,279
Permit penalty fees 5,000 69,573 64,573
False alarm panel fines - fire 55,000 51,280 (3,720)
False alarm panel fines - police 85,000 133,504 48,504
Administrative adjudication 95,000 111,660 16,660
Library fines 169,000 177,777 8,777
Boot release fees 121,500 91,825 (29,675)
Total Fines 4,355,500 3,781,020 (574,480)
Continued
- 104 -
Year ended February 28, 2006
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Original
and Final
Budget Actual Variance
Investment Income 232,700$ 575,281$ 342,581$
Miscellaneous
Charges to Other Funds
Charges to Water for
administrative expenses 1,113,000 1,113,000 -
Economic Development 376,900 385,300 8,400
Maple Garage 40,700 40,700 -
Emergency Telephone System 170,000 170,000 -
Community Development Block Grant 908,300 936,672 28,372
HOME 39,300 39,288 (12)
Sewer 633,100 647,400 14,300
Motor Vehicle Parking System 688,900 688,900 -
Fleet Services 127,000 123,300 (3,700)
Total Charges to Other Funds 4,097,200 4,144,560 47,360
Miscellaneous
Other Revenues
Payments in lieu of taxes 27,000 26,898 (102)
Sales and rentals of property 102,900 68,950 (33,950)
Compensation for damage to
City property 50,000 40,775 (9,225)
Parking permits - Ryan Field 12,000 13,020 1,020
Miscellaneous 316,500 92,867 (223,633)
Total Other Revenues 508,400 242,510 (265,890)
Total Miscellaneous 4,605,600 4,387,070 (218,530)
Total Revenues 78,322,500$ 81,919,666$ 3,597,166$
Concluded
Year ended February 28, 2006
- 105 -
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Expenditures - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
General Management and Support
City Council 291,000$ 270,871$ 20,129$
City Manager 3,646,900 3,311,124 335,776
City Clerk 196,000 207,209 (11,209)
Law Department 690,600 648,009 42,591
Human Resources 1,234,000 1,482,908 (248,908)
Finance 1,762,600 1,797,763 (35,163)
Facilities management 2,357,000 2,372,129 (15,129)
Miscellaneous operating requirements 2,424,400 3,772,550 (1,348,150)
Total General Management and Support 12,602,500 13,862,563 (1,260,063)
Public Safety
Emergency services and disaster assistance 81,900 39,252 42,648
Police 18,095,400 18,670,460 (575,060)
Fire 10,523,900 11,183,106 (659,206)
Total Public Safety 28,701,200 29,892,818 (1,191,618)
Public Works
Municipal service center 299,300 336,526 (37,226)
Public Works Director 195,400 199,801 (4,401)
City Engineer 1,111,800 1,154,822 (43,022)
Traffic Engineer 2,376,700 2,270,500 106,200
Streets 3,450,400 3,254,728 195,672
Sanitation 4,294,200 4,371,209 (77,009)
Total Public Works 11,727,800 11,587,586 140,214
Continued
Year ended February 28, 2006
- 106 -
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Expenditures - Budget and Actual (Budgetary Basis) - Continued
Original
and Final
Budget Actual Variance
Health and Human Resource Development
Health and Human Services Director 350,700$ 290,053$ 60,647$
Health Department 2,692,200 2,049,441 642,759
Emergency assistance services 334,600 245,484 89,116
Mental health and community purchased services 1,032,000 1,035,632 (3,632)
Commission on Aging 117,500 115,609 1,891
Subsidized Taxicab Program 212,400 285,935 (73,535)
Human Relations 598,000 543,549 54,451
Total Health and Human Resource Development 5,337,400 4,565,703 771,697
Recreation and Cultural Opportunities
Library 4,147,900 4,359,676 (211,776)
Recreation 6,707,900 6,815,658 (107,758)
Parks and forestry 4,190,600 3,797,286 393,314
Ecology Center 414,500 412,291 2,209
Arts Council 884,900 803,069 81,831
Total Recreation and Cultural Opportunities 16,345,800 16,187,980 157,820
Housing and Economic Development
Community Development administration 202,700 238,939 (36,239)
Planning and zoning 799,700 813,930 (14,230)
Housing rehabilitation and
property standards 786,000 752,195 33,805
Building code compliance 1,065,300 1,097,838 (32,538)
Total Housing and Economic Development 2,853,700 2,902,902 (49,202)
Pensions
Illinois Municipal Retirement Pension 4,157,400 4,627,930 (470,530)
Total Expenditures 81,725,800$ 83,627,482$ (1,901,682)$
Concluded
Year ended February 28, 2006
- 107 -
CITY OF EVANSTON, ILLINOIS
Motor Fuel Tax Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Revenues
Intergovernmental allotments 2,000,000$ 2,158,221$ 158,221$
Interest 55,000 75,950 20,950
Total Revenues 2,055,000 2,234,171 179,171
Expenditures
Public Works 3,090,000 1,554,835 1,535,165
Excess (Deficiency) of Revenues
over (under) Expenditures (1,035,000) 679,336 1,714,336
Other Financing (Uses)
Operating transfers (out)
General Fund (772,500) (772,500) -
Deficiency of Revenues under
Expenditures and Other Financing Uses (1,807,500)$ (93,164) (1,714,336)$
Fund Balances
Beginning of year 2,399,777
End of yea 2,306,613$
Year ended February 28, 2006
- 108 -
CITY OF EVANSTON, ILLINOIS
Economic Development Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Revenues
Hotel taxes 650,000$ 1,278,559$ 628,559$
Amusement taxes 300,000 297,830 (2,170)
Total Revenue 950,000 1,576,389 626,389
Expenditures
Housing and economic development 848,900 763,751 85,149
Excess of Revenues
over Expenditures 101,100 812,638 711,538
Other Financing Sources (Uses)
Operating transfers in (out)
Howard Ridge Tax Increment District - 37,521 37,521
Maple Avenue Garage Fund (650,000) (650,000) -
Deficiency of Revenues under
Expenditures and Other Financing Uses (548,900)$ 200,159 (749,059)$
Fund Balances
Beginning of year 919,733
End of yea 1,119,892$
Year ended February 28, 2006
- 109 -
CITY OF EVANSTON, ILLINOIS
Emergency Telephone System Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Revenues
Enhanced 911 surcharge 1,143,000$ 1,071,951$ (71,049)$
Interest 1,500 - (1,500)
Total Revenue 1,144,500 1,071,951 (72,549)
Expenditures
Public Safety 2,190,300 1,251,414 938,886
Deficiency of Revenues
under Expenditures (1,045,800)$ (179,463) (866,337)$
Fund Balance
Beginning of year 2,500,305
End of yea 2,320,842$
Year ended February 28, 2006
- 110 -
CITY OF EVANSTON, ILLINOIS
Mayor's Special Housing Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Revenues
Interest 10,000$ 11,524$ 1,524$
Miscellaneous 7,000 47,444 40,444
Total Revenue 17,000 58,968 41,968
Expenditures
Housing and economic development 254,300 174,586 79,714
Excess (Deficiency) of Revenues
over (under) Expenditures (237,300) (115,618) 121,682
Other Financing (Uses)
Transfers (out)
General Fund - (31,800) (31,800)
Excess (Deficiency) of Revenues over (under)
Expenditures and Other Financing Uses (237,300)$ (147,418) 89,882$
Fund Balance
Beginning of year 1,693,779
End of yea 1,546,361$
Year ended February 28, 2006
- 111 -
CITY OF EVANSTON, ILLINOIS
Community Development Block Grant Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Revenues
Intergovernmental allotments
Grant from the U.S. Department of
Housing and Urban Development 2,824,337$ 2,342,426$ (481,911)$
Miscellaneous - 35,225 35,225
Total Revenues 2,824,337 2,377,651 (446,686)
Expenditures
Housing and economic development 2,824,337 2,457,202 367,135
Excess (Deficiency) of Revenues
over (under) Expenditures - (79,551) (79,551)
Other Financing (Uses)
Transfers
Community Development Loan - 79,551 79,551
Excess (Deficiency) of Revenues over (under)
Expenditures and Other Financing Uses -$ - -$
Fund Balance
Beginning of year 12,799
End of yea 12,799$
Year ended February 28, 2006
- 112 -
CITY OF EVANSTON, ILLINOIS
Community Development Block Grant Fund
Schedule of Expenditures - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Administration/Planning
CDBG Administration 313,393$ 313,372$ 21$
Fair Housing Assistance 84,866 84,864 2
Total Administration/Planning 398,259 398,236 23
Economic Development
Evanston Community Development Corp. 25,000 25,000 -
Neighborhood Façade Program 20,000 - 20,000
MBE/Small Business Assistance 72,916 72,900 16
Total Economic Development 117,916 97,900 20,016
Housing
Housing Rehabilitation Administration 238,000 237,991 9
Adaptive Devices - 6,383 (6,383)
Community Development Administration 106,000 105,994 6
Minor Repairs/Painting Assistance - E.N.A.W. 148,000 148,000 -
Program Income - Revolving Loan Fund 200,000 - 200,000
Demolition/Vacant Lot Cleanup Program - 15,510 (15,510)
Civic Center Boiler - 14,558 (14,558)
Housing Code Compliance 248,000 240,566 7,434
Total Housing 940,000 769,002 170,998
Continued
Year ended February 28, 2006
- 113 -
CITY OF EVANSTON, ILLINOIS
Community Development Block Grant Fund
Schedule of Expenditures - Budget and Actual (Budgetary Basis) - Continued
Original
and Final
Budget Actual Variance
Neighborhood Revitalization
Fleetwood Jourdain-Locker Rooms -$ 47,904$ (47,904)$
Accessible Curb Ramp Program - 64,612 (64,612)
Street Light Upgrade - 41,855 (41,855)
Curb/Sidewalk Replacement 75,000 65,071 9,929
Fleetwood Jourdain-Roof Replacement - 98,068 (98,068)
Hemenway UM Church-Handicapped Access 53,000 53,000 -
South Evanston Neighborhood Security - 3,435 (3,435)
Black American Heritage and Tech Center - 24,065 (24,065)
Alley Paving Program 150,000 149,860 140
Howard St. Enhancement (Outpost) - 2,729 (2,729)
Mason Park 360,000 64,792 295,208
Community Development-Neighborhood Improvement 25,000 317 24,683
Handyman Assistance 12,000 8,347 3,653
McGaw YMCA Elevator Project 50,000 12,115 37,885
Reba Early Learning Center 50,000 50,000 -
Ridgeville Park District-Brummel Park Lighting 16,000 16,000 -
Special Assesstments / Alley Paving 80,000 67,302 12,698
Reba Park - 450 (450)
Fleetwood Jourdain-Community Center 75,000 1,592 73,408
Family Focus Center Improvements 50,000 49,997 3
Graffiti Removal Program 28,521 28,524 (3)
Total Neighborhood Revitalization 1,024,521 850,035 174,486
Continued
- 114 -
Year ended February 28, 2006
CITY OF EVANSTON, ILLINOIS
Community Development Block Grant Fund
Schedule of Expenditures - Budget and Actual (Budgetary Basis) - Continued
Original
and Final
Budget Actual Variance
Public Services
Adopt a Fancy Can 4,764$ 3,989$ 775$
Senior Crime Prevention 19,093 19,093 -
Girls Scouts Studio B 4,300 4,300 -
Evanston Community Defender 45,304 45,304 -
Evanston Legal Services CCLAF 9,546 8,709 837
Youth Job Center of Evanston 67,980 67,980 -
Summer Youth 47,677 47,677 -
EEAC Job Counselor 3,819 3,819 -
YWCA Shelter Project 36,703 36,703 -
Connections for Homeless-Entry Point 12,401 12,401 -
Melas at Home 9,546 9,546 -
North Shore Senior Center 23,840 23,840 -
First Base Homeless 4,764 4,764 -
Interfaith Predatory 4,764 4,764 -
Open Studio Art 4,764 4,764 -
Neighborhood Youth Services 14,310 14,310 -
Shorefront NFP Legacy Project 9,546 9,546 -
Wildkits Scholarship and Training Program 2,391 2,391 -
Interfaith Housing Program 13,365 13,365 -
Metropolitan Family Service 4,764 4,764 -
Total Public Services 343,641 342,029 1,612
Total Expenditures 2,824,337$ 2,457,202$ 367,135$
Concluded
Year ended February 28, 2006
- 115 -
CITY OF EVANSTON, ILLINOIS
Special Service District No. 4 Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Original
and Final
Budget Actual Variance
Revenues
Property taxes
Current year levy 255,000$ 255,000$ -$
Prior year levy - (6,110) (6,110)
Interest - 330 330
Total Revenues 255,000 249,220 (5,780)
Expenditures
Housing and economic development 245,000 245,000 -
Excess of Revenues
over Expenditures 10,000$ 4,220 (5,780)$
Fund Balance
Beginning of year 216,258
End of yea 220,478$
Year ended February 28, 2006
- 116 -
CITY OF EVANSTON, ILLINOIS
Township - Town Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Original
and Final
Budget Actual Variance
Revenues
Property taxes 330,000$ 303,822$ (26,178)$
Interest 2,000 1,334 (666)
Replacement tax 30,000 41,218 11,218
Total Revenues 362,000 346,374 (15,626)
Expenditures
General management and support 215,550 217,369 (1,819)
Excess of Revenues over Expenditures 146,450 129,005 (17,445)
Other Financing (Uses)
Operating transfers (out)
General Assistance Fund (125,000) (123,171) 1,829
Excess of Revenues over
Expenditures and Other
Financing Uses 21,450$ 5,834 (15,616)$
Fund Balance
Beginning of year 366,118
End of yea 371,952$
Year ended February 28, 2006
- 117 -
CITY OF EVANSTON, ILLINOIS
Township - General Assistance Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Original
and Final
Budget Actual Variance
Revenues
Property taxes 880,000$ 792,836$ (87,164)$
Interest 1,000 2,726 1,726
Earnfare 1,000 739 (261)
SSI reimbursement 20,000 42,659 22,659
Emergency assistance reimbursement 133,730 66,008 (67,722)
Total Revenues 1,035,730 904,968 (130,762)
Expenditures
General management and support 1,158,534 883,850 (274,684)
(Deficiency) of Revenues
(under) Expenditures (122,804) 21,118 143,922
Other Financing Sources
Transfers in
Town Fund 125,000 123,171 (1,829)
Excess (Deficiency) of Revenues and
Other Financing Sources over (under)
Expenditures 2,196$ 144,289 142,093$
Fund Balance
Beginning of year 219,155
End of yea 363,444$
Year ended February 28, 2006
- 118 -
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CITY OF EVANSTON, ILLINOIS
Debt Service Funds
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual (Budgetary Basis)
Original Original Original
and Final and Final and Final
Budget Actual Budget Actual Budget Actual
Revenues
Taxes
Property taxes
Current year levy, net 8,758,600$ 8,794,174$ 438,000$ 437,706$ 7,235,100$ 8,204,243$
Prior year levy, net - 124,769 - (2,813) - 39,607
Sales tax - - - - 250,000 250,000
Investment income 110,000 387,201 200 595 50,000 163,760
Miscellaneous - 5 - - - -
Total Revenues 8,868,600 9,306,149 438,200 435,488 7,535,100 8,657,610
Expenditures
General management
and support 3,000 804 - 17,142 250,000 111,446
Health and human resources
development - - - - - -
Debt Service
Principal 5,985,000 6,175,680 250,000 265,000 2,915,000 315,000
Interest 3,673,447 3,929,229 180,820 170,563 343,000 342,291
Fiscal agent fees 220,000 183,826 - - 40,000 25,947
Total Expenditures 9,881,447 10,289,539 430,820 452,705 3,548,000 794,684
Excess (Deficiency) of Revenues
over (under) Expenditures (1,012,847) (983,390) 7,380 (17,217) 3,987,100 7,862,926
Other Financing Sources (Uses)
Operating transfers in (out)
Bond Proceeds - 6,205,000 - - - -
Escrow Funding - (6,626,389) - - - -
Premiums and discounts - 479,204 - - - -
Capitalized Interest Income - 354,581 - - - -
General 125,750 125,750 - - (309,000) (884,043)
Economic Development - - - - - -
Special Service District #5 437,700 - - - - -
Downtown TIF DS - - - - - -
Washington National TIF DS - - - - (845,315) (845,315)
Special Assessment
Capital Projects 300,500 300,500 - - - -
Washington National TIF - - - - - -
Water - - - - - (268,449)
Sewer - - - - - (899,602)
Maple Avenue Garage - - - - (4,502,000) (4,500,000)
Fleet - - - - - (51,650)
863,950 838,646 - - (5,656,315) (7,449,059)
Excess (Deficiency) of Revenues
and Other Financing Sources
over (under) Expenditures
and Other Financing Uses (148,897)$ (144,744) 7,380$ (17,217) (1,669,215)$ 413,867
Fund Balances
Beginning of year 1,657,918 38,069 6,858,852
End of yea 1,513,174$ 20,852$ 7,272,719$
Increment DistricObligation Debt No. 5
- 119 -
Business Tax
Year ended February 28, 2006
Special Central
Genera Service Distric
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
600,400$ 557,665$ 1,199,900$ 1,388,058$ 998,600$ 1,599,296$ -$ 94,208$ 19,230,600$ 21,075,350$
- 19,056 - - - 1,910 - 923 - 183,452
- - - - - - - - 250,000 250,000
6,000 21,524 35,000 120,936 10,000 80,165 - 89 211,200 774,270
- - - - - - - - - 5
606,400 598,245 1,234,900 1,508,994 1,008,600 1,681,371 - 95,220 19,691,800 22,283,077
- - - - 150,000 1,446 - 6,435 403,000 137,273
600,000 - - - - - - - 600,000 -
225,000 250,000 525,000 425,000 195,000 2,580,000 - - 10,095,000 10,010,680
50,625 42,750 344,600 268,620 1,268,350 2,142,065 - - 5,860,842 6,895,518
- - - - 130,000 113,052 - - 390,000 322,825
875,625 292,750 869,600 693,620 1,743,350 4,836,563 - 6,435 17,348,842 17,366,296
(269,225) 305,495 365,300 815,374 (734,750) (3,155,192) - 88,785 2,342,958 4,916,781
- - - - - - - - - 6,205,000
- - - - - - - - - (6,626,389)
- - - - - - - - - 479,204
- - - - - - - - - 354,581
(21,200) (21,200) (128,800) (128,800) (137,900) (137,900) - - (471,150) (1,046,193)
- - - - - - - (37,521) - (37,521)
- - - - - - - - 437,700 -
- - - - 845,315 845,315 - - 845,315 845,315
- - - - - - - - (845,315) (845,315)
- - - - - - - - 300,500 300,500
- - - - - - - (5,347) - (5,347)
- - - - - - - - - (268,449)
- - - - - - - - - (899,602)
- - - - - - - - (4,502,000) (4,500,000)
- - - - - - - - - (51,650)
(21,200) (21,200) (128,800) (128,800) 707,415 707,415 - (42,868) (4,234,950) (6,095,866)
(290,425)$ 284,295 236,500$ 686,574 (27,335)$ (2,447,777) -$ 45,917 (1,891,992)$ (1,179,085)
306,586 1,081,613 3,862,220 - 13,805,258
590,881$ 1,768,187$ 1,414,443$ 45,917$ 12,626,173$
Increment Distric Increment DistricIncrement Distric Totals
- 120 -
Washington
Southwest Ta National Tax Howard Ridge Ta
Increment Distric
Howard Hartrey Ta
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PROPRIETARY FUND TYPES
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CITY OF EVANSTON, ILLINOIS
Nonmajor Proprietary Funds
Statement of Net Assets
Total
Maple Motor Vehicle Nonmajor
Avenue Parking Proprietary
Garage System Funds
Current Assets
Cash and equivalents 2,717,885$ 2,543,217$ 5,261,102$
Investments 2,994,865 - 2,994,865
Receivables
Accrued interest 25,533 - 25,533
Other - 11,686 11,686
Due from other funds 60,070 - 60,070
Total Current Assets 5,798,353 2,554,903 8,353,256
Noncurrent Assets
Capital Assets
Land - 2,742,522 2,742,522
Capital assets being depreciated 27,128,673 8,498,084 35,626,757
Less accumulated depreciation (3,547,929) (2,635,055) (6,182,984)
Total Noncurrent Assets 23,580,744 8,605,551 32,186,295
Other Assets
Receivables
Notes - 309,000 309,000
Total Assets 29,379,097$ 11,469,454$ 40,848,551$
February 28, 2006
Business-type Activities-Enterprise Fund
Assets
- 121 -
Total
Maple Motor Vehicle Nonmajor
Avenue Parking Proprietary
Garage System Funds
Current Liabilities (Payable from
Current Assets)
Vouchers payable 176,517$ 43,552$ 220,069$
Accrued payroll - 17,147 17,147
Interest payable - 48,897 48,897
Compensated absences payable - 108,357 108,357
General obligation bonds payable 13,100,000 585,000 13,685,000
Unamortized bond expenses and discount (21,399) - (21,399)
Due to other funds 398 12,780 13,178
Total Current Liabilities Payable from
Current Assets 13,255,516 815,733 14,071,249
Long-Term Liabilities
General obligation bonds payable - 3,130,000 3,130,000
Total Liabilities 13,255,516 3,945,733 17,201,249
Invested in capital assets, net of
related debt 10,480,744 4,890,551 15,371,295
Unrestricted 5,642,837 2,633,170 8,276,007
Total net assets 16,123,581$ 7,523,721$ 23,647,302$
Business-type Activities-Enterprise Fund
Liabilities
Net Assets
- 122 -
CITY OF EVANSTON, ILLINOIS
Nonmajor Proprietary Funds
Combining Statement of Revenues, Expenses, and Changes in Fund Net Assets
Maple Total
Avenue Motor Vehicle Nonmajor
Garage Parking Proprietary
Fund System Funds
Operating Revenues
Charges for services 1,622,573$ 2,953,064$ 4,575,637$
Miscellaneous 2 12,380 12,382
Total Operating Revenues 1,622,575 2,965,444 4,588,019
Operating Expenses Excluding Depreciation
Administration - 1,052,335 1,052,335
Operations 1,879,546 1,406,282 3,285,828
Total Operating Expenses
Excluding Depreciation 1,879,546 2,458,617 4,338,163
Operating Income (Loss) Before Depreciation (256,971) 506,827 249,856
Depreciation 685,311 158,717 844,028
Operating Income (Loss) (942,282) 348,110 (594,172)
Nonoperating Revenues (Expenses)
Investment income 101,249 74,611 175,860
Interest expense (517,028) (286,634) (803,662)
Bond expenses and amortization of discount (14,559) - (14,559)
Total Nonoperating Revenues (Expenses) (430,338) (212,023) (642,361)
Income (Loss) Before Transfers (1,372,620) 136,087 (1,236,533)
Transfers In (Out)
Central Business Tax Increment District Fund 4,500,000 - 4,500,000
Economic Development Fund 650,000 - 650,000
General Fund 300,000 - 300,000
Change in Net Assets 4,077,380 136,087 4,213,467
Total Net Assets (Deficit) - Beginning of Year 12,046,201 7,387,634 19,433,835
Total Net Assets - End of Year 16,123,581$ 7,523,721$ 23,647,302$
Year ended February 28, 2006
Business-type Activities-Enterprise Fund
- 123 -
CITY OF EVANSTON, ILLINOIS
Nonmajor Proprietary Funds
Statement of Cash Flows
Maple Total
Avenue Motor Vehicle Nonmajor
Garage Parking Proprietary
Fund System Funds
Cash Flows from Operating Activities
Receipts from customers and users 1,597,042$ 2,964,810$ 4,561,852$
Receipts from interfund services provided (13,967) 85,538 71,571
Payments to suppliers (1,760,418) (1,436,153) (3,196,571)
Payments to employees - (1,011,149) (1,011,149)
Payments for interfund services provided (129,472) (12,912) (142,384)
Net Cash Provided by (Used for) Operating Activities (306,815) 590,134 283,319
Cash Flows from Noncapital Financing Activities
Transfers In (Out)
Central Business Tax Increment District Fund 4,500,000 - 4,500,000
Economic Development Fund 650,000 - 650,000
General Fund 300,000 - 300,000
Net Cash Provided by Noncapital Financing Activities 5,450,000 - 5,450,000
Cash Flows from Capital and Related Financing Activities
Acquisition and construction of capital assets 51,000 - 51,000
Principal paid on general obligation bonds (3,800,000) (545,000) (4,345,000)
Interest paid on general obligation bonds (517,028) (286,634) (803,662)
Net Cash (Used for) Capital and Related Financing Activities (4,266,028) (831,634) (5,097,662)
Cash Flows from Investing Activities
Interest income 101,249 74,611 175,860
Net Cash Provided by Investing Activities 101,249 74,611 175,860
Net Increase (Decrease) in Cash and Equivalents 978,406 (166,889) 811,517
Cash and Equivalents
Beginning of year 4,734,344 2,710,106 7,444,450
End of yea 5,712,750$ 2,543,217$ 8,255,967$
Reconciliation
Cash and equivalents
Unrestricted 5,712,750$ 2,543,217$ 8,255,967$
5,712,750$ 2,543,217$ 8,255,967$
Year ended February 28, 2006
Business-type Activities-Enterprise Fund
- 124 -
CITY OF EVANSTON, ILLINOIS
Nonmajor Proprietary Funds
Statement of Cash Flows - Continued
Maple Total
Avenue Motor Vehicle Nonmajor
Garage Parking Proprietary
Fund System Funds
Reconciliation of Operating Income (Loss) to Net Cash Provided
by (Used for) Operating Activities
Operating income (loss) (942,282)$ 348,110$ (594,172)$
Depreciation 685,311 158,717 844,028
Changes in assets and liabilities
Other receivables - (634) (634)
lnterfund receivable (13,967) 85,538 71,571
Accrued interest receivable (25,533) - (25,533)
Compensated absences - 36,891 36,891
Accrued payroll - 4,295 4,295
lnterfund payable (129,472) (12,912) (142,384)
Vouchers payable 119,128 (22,815) 96,313
Interest payable - (7,056) (7,056)
Net Cash Provided by (Used for) Operating Activities (306,815)$ 590,134$ 283,319$
Business-type Activities-Enterprise Fund
- 125 -
Year ended February 28, 2006
THIS PAGE INTENTIONALLY LEFT BLANK
CITY OF EVANSTON, ILLINOIS
Water Fund
Schedule of Net Assets
Operation and Bond Depreciation
Maintenance and Bond Improvement
Account Interest Reserve and Extension Totals
Current Assets
Cash and equivalents 442,062$ -$ -$ -$ 442,062$
Restricted cash and equivalents and investments - 102,515 - 376,850 479,365
Receivables
Accounts - billed 1,052,876 - - - 1,052,876
Accounts - unbilled 864,508 - - - 864,508
Due from other funds 277 - - - 277
Other Receivables 12,904 - - 7,583 20,487
Inventory 527,163 - - - 527,163
Total Current Assets 2,899,790 102,515 - 384,433 3,386,738
Noncurrent Assets
Restricted cash and equivalents and investments 1,082,873 1,537,458 3,050,118 4,911,617 10,582,066
Capital Assets
Land 555,415 - - - 555,415
Construction in progress - - - 1,027,973 1,027,973
Capital assets being depreciated 58,187,210 - - - 58,187,210
Less accumulated depreciation (14,127,102) - - - (14,127,102)
Total Capital Assets 44,615,523 - - 1,027,973 45,643,496
Total Assets 48,598,186$ 1,639,973$ 3,050,118$ 6,324,023$ 59,612,300$
February 28, 2006
Restricted Accounts
Assets
- 126 -
Operation and Bond Depreciation
Maintenance and Bond Improvement
Account Interest Reserve and Extension Totals
Current Liabilities
Vouchers payable 206,685$ -$ -$ 84,858$ 291,543$
Vouchers payable - restricted - - - 376,850 376,850
Accrued payroll 60,576 - - - 60,576
Interest payable - restricted - 24,182 - - 24,182
Revenue bonds payable - restricted - 78,333 - - 78,333
Due to other funds 28,078 - - 785 28,863
Compensated absences payable 387,900 - - - 387,900
Total Current Liabilities 683,239 102,515 - 462,493 1,248,247
Long-Term Liabilities
Revenue bonds payable 3,631,667 - - - 3,631,667
Unamortized bond discount on bonds payable 18,064 - - - 18,064
Total Long-Term Liabilities 3,649,731 - - - 3,649,731
Total Liabilities 4,332,970 102,515 - 462,493 4,897,978
Net Assets
Restricted for debt service - 1,537,458 3,050,118 5,861,530 10,449,106
Unrestricted 44,265,216 - - - 44,265,216
Total Net Assets 44,265,216 1,537,458 3,050,118 5,861,530 54,714,322
Total Liabilities and Net Assets 48,598,186$ 1,639,973$ 3,050,118$ 6,324,023$ 59,612,300$
Restricted Accounts
Liabilities and Net Assets
- 127 -
CITY OF EVANSTON, ILLINOIS
Water Fund
Schedule of Changes in Net Assets - Reserved - Restricted Accounts
Bond Depreciation,
and Bond Improvement
Interest Reserve and Extension Totals
Increases
Intrafund transfers in -
accordance with bond ordinance
unreserved retained earnings -
Operation and Maintenance 1,020,400$ 145,800$ 2,877,200$ 4,043,400$
Transfer from Capital Improvement - - 3,300,000 3,300,000
Investment earnings 39,276 81,239 131,866 252,381
Total Increases 1,059,676 227,039 6,309,066 7,595,781
Decreases
Bond principal 799,167 - - 799,167
Bond interest 171,977 - - 171,977
Purchase of capital assets - - 3,993,253 3,993,253
Transfer to Insurance Fund - - 3,300,000 3,300,000
Payment of expense - 260 10,544 10,804
Intrafund transfers to operation
and maintenance - 145,800 - 145,800
Total Decreases 971,144 146,060 7,303,797 8,421,001
Net Increase (Decrease) 88,532 80,979 (994,731) (825,220)
Net Assets
Beginning of year 1,448,926 2,969,139 6,856,261 11,274,326
End of yea 1,537,458$ 3,050,118$ 5,861,530$ 10,449,106$
Year ended February 28, 2006
- 128 -
CITY OF EVANSTON, ILLINOIS
Water Fund - Operation and Maintenance Account
Schedule of Revenues, Expenses, and Changes in Unreserved Net Assets - Budget and Actual
(With Comparative Totals for the Year Ended February 28, 2005)
Prior Year
Budget Actual Actual
Operating Revenues
Charges for services 13,332,100$ 13,475,577$ 12,739,153$
Miscellaneous 300,700 485,859 447,692
Total Operating Revenues 13,632,800 13,961,436 13,186,845
Operating Expenses Excluding Depreciation
Administration 676,800 634,737 698,958
Operations
Pumping 1,863,000 1,875,494 1,745,290
Filtration 2,066,100 1,822,574 1,665,264
Meter maintenance 301,700 310,591 294,986
Distribution 1,197,100 1,100,542 1,110,097
Other 942,800 951,123 874,507
Total Operating Expenses Excluding Depreciation 7,047,500 6,695,061 6,389,102
Operating Income Before Depreciation 6,585,300 7,266,375 6,797,743
Depreciation - 1,345,848 1,296,208
Operating Income 6,585,300 5,920,527 5,501,535
Nonoperating Revenues (Expenses)
Investment income 50,000 167,149 49,387
Interest expense - (171,977) (201,705)
Bond expenses and amortization of discount - (1,401) (3,654)
Net book value of capital assets disposed - (242,851) (2,643)
Total Nonoperating Revenues (Expenses) 50,000 (249,080) (158,615)
Income Before Transfers 6,635,300 5,671,447 5,342,920
Transfers In (Out)
Transfer In - 3,568,449 1,308,102
Transfer Out (2,615,200) (5,993,600) (3,923,302)
(2,615,200) (2,425,151) (2,615,200)
Net Income 4,020,100$ 3,246,296 2,727,720
Other Changes in Unreserved Net Assets
lntrafund transfers in (out) - net assets -
reserved - restricted accounts 1,066,797 (1,328,173)
Increase in Unreserved Net Assets 4,313,093 1,399,547
Unreserved Net Assets
Beginning of yea 39,952,123 38,552,576
End of yea 44,265,216$ 39,952,123$
Year ended February 28, 2006
- 129 -
CITY OF EVANSTON, ILLINOIS
Water Fund - Operation and Maintenance Account
Schedule of Operating Revenues - Budget and Actual
(With Comparative Totals for the Year Ended February 28, 2005)
Prior Year
Budget Actual Actual
Charges for Services, Net
Water Sales
Evanston 6,588,000$ 6,706,643$ 6,559,026$
Skokie 3,247,300 3,018,734 2,802,720
Northwest Water Commission 3,496,800 3,750,200 3,377,407
Total Charges for Services 13,332,100 13,475,577 12,739,153
Miscellaneous
Fees and outside work 45,000 78,619 85,788
Fees, merchandise and other 255,700 407,240 361,904
Total Miscellaneous 300,700 485,859 447,692
Total Operating Revenues 13,632,800$ 13,961,436$ 13,186,845$
Year ended February 28, 2006
- 130 -
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
Fleet Services Insurance Totals
Current Assets
Cash and equivalents 24,718$ 108,707$ 133,425$
Investments - 970,532 970,532
Receivables - other 20,025 - 20,025
Due from other funds 281,650 - 281,650
Inventories 280,977 - 280,977
Total Unrestricted Current Assets 607,370 1,079,239 1,686,609
Capital Assets
Cost 19,766,744 - 19,766,744
Accumulated depreciation (12,689,047) - (12,689,047)
Total Capital Assets 7,077,697 - 7,077,697
Total Assets 7,685,067 1,079,239 8,764,306
Liabilities and Fund Equity
Current Liabilities
Vouchers payable 197,621 66,772 264,393
Accrued payroll 23,610 727 24,337
Compensated absences payable 102,575 - 102,575
Claims payable - 862,114 862,114
Due to other funds 985,124 - 985,124
Total Current Liabilities 1,308,930 929,613 2,238,543
Long-Term Liabilities
Claims payable - 3,672,000 3,672,000
Total Liabilities 1,308,930 4,601,613 5,910,543
Net Assets (Deficit)
Invested in capital assets, net of
related debt 7,077,697 - 7,077,697
Unrestricted (701,560) (3,522,374) (4,223,934)
Total net assets (deficit) 6,376,137$ (3,522,374)$ 2,853,763$
February 28, 2006
Assets
- 131 -
CITY OF EVANSTON, ILLINOIS
Internal Service Funds
Combining Statement of Revenues, Expenses, and Changes in Net Assets
Fleet Services Insurance Totals
Operating Revenues
Charges for Services
General Fund 4,055,400$ 1,900,000$ 5,955,400$
Sewer Fund 242,900 - 242,900
Water Fund 311,000 - 311,000
Motor Vehicle Parking System Fund 105,000 - 105,000
Miscellaneous 21,301 6,360 27,661
Total Operating Revenues 4,735,601 1,906,360 6,641,961
Operating Expenses
General support 449,342 - 449,342
Major maintenance 2,498,690 - 2,498,690
Vehicle body maintenance 201,662 - 201,662
General liability claims - 1,571,371 1,571,371
Workers compensation claims - 1,537,442 1,537,442
Other 56,795 161,687 218,482
Total Operating Expenses 3,206,489 3,270,500 6,476,989
Operating Income (Loss) Before Depreciation 1,529,112 (1,364,140) 164,972
Depreciation 1,388,947 - 1,388,947
Operating Income (Loss) 140,165 (1,364,140) (1,223,975)
Nonoperating Revenues (Expenses)
Investment income - 27,010 27,010
Interest expense (17,138) - (17,138)
Gain (loss) on disposition of assets 145,739 - 145,739
Total Nonoperating Revenues (Expenses) 128,601 27,010 155,611
Income (Loss) before Operating Transfers 268,766 (1,337,130) (1,068,364)
Transfers In (Out)
Water Fund - 3,300,000 3,300,000
Sewer Fund 230,000 - 230,000
General Fund 19,000 - 19,000
Central Business Tax Increment District Fund 51,650 - 51,650
Capital Improvement Fund 105,000 - 105,000
Change in Net Assets 674,416 1,962,870 2,637,286
Total Net Assets (Deficit) - Beginning of Year 5,701,721 (5,485,244) 216,477
Total Net Assets (Deficit)- End of Year 6,376,137$ (3,522,374)$ 2,853,763$
Year ended February 28, 2006
- 132 -
CITY OF EVANSTON, ILLINOIS
Internal Service Funds
Combining Statement of Cash Flows
Fleet Services Insurance Totals
Cash Flows from Operating Activities
Receipts from customers and users 4,733,962$ 1,915,966$ 6,649,928$
Receipts from interfund services provided (281,406) - (281,406)
Payments to suppliers (2,771,306) (9,853,695) (12,625,001)
Payments to employees (445,261) (1,537,201) (1,982,462)
Payments for interfund services provided 980,325 (2,135) 978,190
Net Cash Provided By (Used For) Operating Activities 2,216,314 (9,477,065) (7,260,751)
Cash Flows from Noncapital Financing Activities
Transfers In (Out)
Water Fund - 3,300,000 3,300,000
Sewer Fund 230,000 - 230,000
General Fund 19,000 - 19,000
Central Business Tax Increment District Fund 51,650 - 51,650
Capital Improvement Fund 105,000 - 105,000
Net Cash Provided by Noncapital Financing Activities 405,650 3,300,000 3,705,650
Cash Flows from Capital and Related Financing Activities
Sale of capital assets 152,196 - 152,196
Acquisition and construction of capital assets (2,313,297) - (2,313,297)
Principal paid on general obligation bonds (450,000) - (450,000)
Interest paid on general obligation bonds (22,850) - (22,850)
Net Cash (Used for) Capital and
Related Financing Activities (2,633,951) - (2,633,951)
Cash Flows from Investing Activities
Proceeds from sales and maturities of investments - 10,300,000 10,300,000
Purchase of investments - (4,227,010) (4,227,010)
Interest income - 27,010 27,010
Net Cash Provided by Investing Activities - 6,100,000 6,100,000
Net Decrease in Cash and Equivalents (11,987) (77,065) (89,052)
Cash and Equivalents
Beginning of year 36,705 185,772 222,477
End of yea 24,718$ 108,707$ 133,425$
Continued
Year ended February 28, 2006
- 133 -
CITY OF EVANSTON, ILLINOIS
Combining Statement of Cash Flows - Continued
Internal Service Funds
Fleet Services Insurance Totals
Reconciliation of Operating Income to Net Cash
Provided by (Used for) Operating Activities
Operating Income 140,165$ (1,364,140)$ (1,223,975)$
Adjustments to reconcile operating income to
net cash provided by (used for) operating activities
Depreciation 1,388,947 - 1,388,947
Changes in assets and liabilities
Other receivables (1,639) 9,606 7,967
lnterfund receivable (281,406) - (281,406)
Inventories (26,543) - (26,543)
Compensated absences 2,556 - 2,556
Accrued payroll 1,525 241 1,766
lnterfund payable 980,325 (2,135) 978,190
Vouchers payable 12,384 66,772 79,156
Claims payable - (8,162,670) (8,162,670)
Due to other governments - (24,739) (24,739)
et Cash Provided By (Used For) Operating Activities 2,216,314$ (9,477,065)$ (7,260,751)$
Year ended February 28, 2006
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THIS PAGE INTENTIONALLY LEFT BLANK
CAPITAL ASSETS USED IN THE OPERATION OF
GOVERNMENTAL FUNDS
CITY OF EVANSTON, ILLINOIS
2006 2005
Governmental funds capital assets:
Land $ 6,556,620 $ 6,556,620
Right of way 18,695,896 18,606,141
Buildings and improvements 78,509,383 76,877,897
Office equipment and furniture 9,534,769 10,629,496
Machinery and equipment 1,173,221 703,123
Library collections 10,192,310 9,929,181
Capitalized leases 664,069 1,190,567
Infrastructure 85,894,840 78,806,398
Construction in progress 41,657,942 9,284,228
Total governmental funds capital assets $ 252,879,050 $ 212,583,651
Investments in governmental funds capital assets by source:
Capital Project Funds $ 222,462,024 $ 182,432,795
General and Special Revenue Funds 29,803,502 29,537,332
Gifts / Donation 613,524 613,524
Total governmental funds capital assets $ 252,879,050 $ 212,583,651
- 135 -
Capital Assets Used in the Operation of Governmental Funds
Comparative Schedules by Source
Year ended February 28, 2006
This schedule presents only the capital asset balances related to governmental funds. Accordingly, the capital assets
reported in the internal service funds are excluded from the above amounts. Generally, the capital assets of internal
service funds are included as governmental activities in the statement of net assets. The capital asset balances of the
internal service funds were $19,766,744 at February 28, 2006 and $18,209,749 at February 28, 2005 and consisted o
machinery and equipment.
CITY OF EVANSTON, ILLINOIS
General management and support $ 5,194,320 $ 5,902,335 $ 8,242,819 $ 309,882
Public safety 99,900 13,452,544 1,226,956 300,606
Public works 951,020 21,464,929 - 346,885
Recreation and cultural opportunities 311,380 37,689,575 64,994 215,848
Total capital assets $ 6,556,620 $ 78,509,383 $ 9,534,769 $ 1,173,221
- 136 -
This schedule presents only the capital asset balances related to governmental funds. Accordingly, the capital assets reported in the
internal service funds are excluded from the above amounts. Generally, the capital assets of internal service funds are included as
governmental activities in the statement of net assets. The capital asset balances of the internal service funds were $19,766,744 at
February 28, 2006 and $18,209,749 at February 28, 2005 and consisted of machinery and equipment.
FUNCTION AND ACTIVITY Land improvements furniture equipment
Buildings and equipment and Machinery and
Office
Capital Assets Used in the Operation of Governmental Funds
Schedule by Function and Activit
Year ended February 28, 2006
$ - $ 18,695,896 $ 180,476 $ - $ - $ 38,525,728
- - 70,719 - - 15,150,725
- - - 79,170,923 41,657,942 143,591,699
10,192,310 - 412,874 6,723,917 - 55,610,898
$ 10,192,310 $ 18,695,896 $ 664,069 $ 85,894,840 $ 41,657,942 $ 252,879,050
- 137 -
Infrastructure in progress Total
Construction
Collections Way leases
Library Right of Capitalized
CITY OF EVANSTON, ILLINOIS
General management and support $ 39,590,585 $ 466,612 $ (1,621,225) $ 38,435,972
Public safety 14,929,354 221,371 - 15,150,725
Public works 104,319,323 39,362,130 - 143,681,453
Recreation and cultural opportunities 53,744,389 2,241,483 (374,972) 55,610,900
Total capital asset $ 212,583,651 $ 42,291,596 $ (1,996,197) $ 252,879,050
This schedule presents only the capital asset balances related to governmental funds. Accordingly, the capital assets reported in the
internal service funds are excluded from the above amounts. Generally, the capital assets of internal service funds are included as
governmental activities in the statement of net assets. The capital asset balances of the internal service funds were $19,766,744 at
February 28, 2006 and $18,209,749 at February 28, 2005.
- 138 -
Capital assets
FUNCTION AND ACTIVITY March 1, 2005 Additions Deletions February 28, 2006
Capital assets
Capital Assets Used in the Operation of Governmental Funds
Schedule of Changes by Function and Activity
Year ended February 28, 2006
STATISTICAL SECTION (UNAUDITED)
CITY OF EVANSTON, ILLINOIS
Government-wide Expenses by Function
Last Four Fiscal Years
2003 2004 2005 2006
Government Activities
General management and support 14,273,641$ 15,791,355$ 14,450,761$ 19,536,566$
Public safety 33,420,019 39,237,180 31,167,640 45,950,611
Public works 13,186,710 13,065,137 14,224,855 14,631,723
Health and human resource development 5,041,428 5,370,262 5,843,522 4,781,198
Recreation and cultural opportunities 16,247,049 17,129,356 18,276,621 19,791,683
Housing and economic development 5,817,651 5,973,494 6,757,476 6,850,300
Interest 4,540,304 4,899,622 5,086,412 5,874,030
Total governmental activities 92,526,802 101,466,406 95,807,287 117,416,111
Business-type Activities
Water 11,407,511 8,992,102 8,175,691 8,759,592
Sewer 3,701,739 3,468,096 4,777,494 9,219,174
Maple avenue garage fund 8,543,719 8,964,469 8,781,361 3,096,444
Motor vehicle parking system 2,678,894 3,028,429 3,148,145 2,903,968
Total business-type activities 26,331,863 24,453,096 24,882,691 23,979,178
Total expenses 118,858,665$ 125,919,502$ 120,689,978$ 141,395,289$
Source: City's Comprehensive Annual Financial Reports.
Note: The City implemented GASB-34 for the fiscal year ended February 28, 2003.
- 139 -
CITY OF EVANSTON, ILLINOIS
Government-wide Revenues
Last Four Fiscal Years
2003 2004 2005 2006
Pro ram revenue
Charges for services 53,636,822$ 56,731,361$ 58,870,294$ 62,290,317$
Operating grants and contributions 3,006,468 3,479,547 3,713,201 3,440,889
Capital grants and contributions 1,962,713 1,458,824 212,000 1,126,610
General revenue
Property, replacement, and other taxes 71,935,463 76,274,482 80,059,394 89,810,392
Motor fuel tax 2,116,330 - - - *
Special assessments 208,002 - - - *
Gain on sale of capital assets 174,825 93,223 53,605 68,950
Miscellaneous 2,131,077 2,003,696 4,942,465 1,343,049
Investment income 1,698,323 2,054,006 1,928,258 3,893,050
Total revenue 136,870,023$ 142,095,139$ 149,779,217$ 161,973,257$
* Included in program revenues starting in fiscal 2004
Source: City's Comprehensive Annual Financial Reports.
Note: The City implemented GASB-34 for the fiscal year ended February 28, 2003.
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THIS PAGE INTENTIONALLY LEFT BLANK
CITY OF EVANSTON, ILLINOIS
General Governmental Revenues - By Source (City Funds)
Last Ten Fiscal Years
1997 1998 1999 2000
Taxes 47,377,295$ 49,253,561$ 51,219,538$ 56,526,013$
Licenses and permits 3,935,179 4,394,035 4,186,623 5,333,590
Intergovernmental 4,420,780 5,773,857 5,593,385 6,250,303
Charges for services 4,012,343 4,030,003 4,997,650 4,859,680
Fines and forfeits 1,902,396 2,763,919 2,830,747 2,624,768
Investment income 803,826 930,876 832,176 1,178,473
Miscellaneous 3,305,452 3,642,998 3,586,765 4,103,998
65,757,271$ 70,789,249$ 73,246,884$ 80,876,825$
Note: Includes General, Special Revenue and Debt Service Funds
- 141 -
2001 2002 2003 2004 2005 2006
61,553,222$ 62,319,808$ 52,545,639$ 56,923,353$ 59,026,698$ 66,633,680$
6,436,357 7,404,986 6,459,186 6,699,058 6,773,407 9,164,065
5,448,577 5,859,079 18,291,511 18,004,581 21,519,882 20,482,482
5,491,544 5,514,980 6,261,930 5,996,802 6,052,956 6,904,796
2,782,303 3,241,930 3,742,055 4,162,610 3,999,105 3,781,020
1,909,097 1,442,953 690,001 953,816 698,922 1,706,055
4,127,182 3,631,267 5,995,219 4,714,224 8,156,295 4,604,547
87,748,282$ 89,415,004$ 93,985,541$ 97,454,444$ 106,227,265$ 113,276,645$
- 142 -
CITY OF EVANSTON, ILLINOIS
General Governmental Expenditures - By Function/Program (City Funds)
Last Ten Fiscal Years
1997 1998 1999 2000
General management and support services 6,009,344$ 6,200,320$ 7,212,004$ 8,260,083$
Public Safety 19,493,788 21,239,535 22,181,724 22,504,948
Public Works 9,771,057 9,615,973 10,434,066 12,677,399
Health and human resource development 3,632,846 3,991,174 4,211,702 4,341,946
Recreation and cultural opportunities 9,624,646 9,939,803 10,590,037 11,729,639
Housing and economic development 4,534,206 6,320,413 5,336,215 7,013,119
Pension / IMRF 3,865,286 3,811,861 3,938,842 3,858,622
Debt servic 18,486,089 15,791,760 12,187,953 10,717,903
75,417,262$ 76,910,839$ 76,092,543$ 81,103,659$
Note: Includes General, Special Revenue and Debt Service Funds
- 143 -
2001 2002 2003 2004 2005 2006
8,909,240$ 11,965,898$ 11,293,648$ 11,815,342$ 13,156,536$ 14,365,437$
23,927,733 25,454,153 26,875,820 28,008,431 29,707,010 31,163,795
12,211,887 11,655,007 10,847,474 11,118,899 12,070,461 13,242,104
4,743,728 4,620,954 4,839,565 5,272,090 5,800,662 4,565,684
12,107,322 13,028,036 13,422,959 14,251,886 15,493,468 16,525,586
5,619,661 6,292,771 5,661,898 5,882,117 6,717,231 6,645,635
3,926,955 4,090,630 4,209,396 2,687,984 1,371,992 4,627,930
11,095,141 10,639,365 11,224,087 14,548,084 12,912,536 13,546,892
82,541,667$ 87,746,814$ 88,374,847$ 93,584,833$ 97,229,896$ 104,683,063$
- 144 -
CITY OF EVANSTON, ILLINOIS
Schedule of Insurance in Force
$10,000,000 coverage in excess of
$2,000,000 per occurrence (first
$2,000,000 is City's portion)
6501691 3/01/06 - 3/01/07
Excess Liability
$5,000,000 coverage in excess of
$10,000,000 er occurrence
Excess Liability
- 145 -
Illinois National Insurance Co. 76062798 3/01/06 - 3/01/07
Lexington Insurance Co.
National Union Fire Ins. Co. (AIG) 006260954 3/01/06 - 3/01/07 Crime Policy
Western World Insurance NPP970824 3/01/06 - 3/01/07
3/01/06 -3/01/07
Specific excess coverage in excess
of $500,000 er occurrence
Hartford Insurance Co. 83MSRZ3857
March 1, 2006
Policy Policy
Safety National Casualty Corp. SP8724-IL 3/01/06 -3/01/07 Excess Workers'
Com ensation
Name of Company
FM Global FC359 3/01/06 - 3/01/07
Number Dates
Theft of cash in excess of $25,000
deductible, to limit of $2,000,000
Actual cash value per Statement o
Values each loss/each location in
excess of $75,000 deductible
Type of
DetailsCoverage
Fine Arts - Noyes, Levy
Center and
Fleetwood/Jourdain
Theaters
All - Risk Property
(includes business
interruption, loss of rents,
and fine arts)
Ambulance/Paramedic
Liabilit
$1,000,000 per occurrence;
$1,000,000 a re ate
Per Statement of Values in excess
of $250 deductible limits of
different levels at each property
CITY OF EVANSTON, ILLINOIS
Property Tax Rates
Last Ten Levy Years
Tax Levy Year 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
General Corporate 1.1649 1.1161 1.0918 0.9801 1.0231 1.0872 0.8646 0.8554 0.8977 0.7685
Debt Service 0.5308 0.5417 0.5946 0.5443 0.5574 0.5743 0.4467 0.4404 0.4494 0.4025
1.6957 1.6578 1.6864 1.5244 1.5805 1.6615 1.3113 1.2958 1.3471 1.1710
Police Pension 0.2111 0.2154 0.2138 0.2062 0.2021 0.2088 0.1819 0.1812 0.1981 0.1991
Firefighters' Pension 0.1774 0.1855 0.1681 0.1566 0.1505 0.1626 0.1348 0.1321 0.1520 0.1573
Total All Funds 2.0842 2.0587 2.0683 1.8872 1.9331 2.0329 1.6280 1.6091 1.6972 1.5274
Actual Rate Extended 2.085 2.059 2.069 1.888 1.934 2.033 1.628 1.610 1.698 1.528
*2005 property tax rates were not available at publication of this report.
Fund
- 146 -
CITY OF EVANSTON, ILLINOIS
Property Tax Levies and Collections (City)
Last Ten Levy Years
Total Outstanding
Current Delinquent Total Collections and
Tax Tax Tax as Percent Delinquent
Collections Collections Collections of Levy Taxes
23,390,347$ 284,877$ 23,675,224$ 99.66%81,919$
23,234,806 404,013 23,638,819 99.50%118,325
23,223,913 544,880 23,768,793 100.05%(11,761)
24,468,693 425,270 24,893,963 99.03%243,389
25,319,911 421,153 25,741,064 98.18%476,582
25,391,349 442,216 25,833,565 98.21%471,762
27,286,591 254,154 27,540,745 98.51%416,381
28,565,408 365,801 28,931,209 97.04%882,578
30,991,234 412,246 31,403,480 97.83%697,177
4,851,401 - 4,851,401 14.52%28,571,910
Notes:
(1) In Illinois, general property taxes are billed and payable in the first year following the levy year.
(2) Does not include tax levy for Special Service District debt, Central Business Tax Increment District debt, Howard Hartrey Tax Increment District debt,
Southwest Tax Increment District debt, or Washington National Tax Increment District debt.
2004 32,100,657 96.54% 2.17%
0.97%97.34%
29,813,787 95.81% 2.96%
1.49%97.60%2002
26,305,327
23,757,144
23,757,032
1997
0.34%
97.76%
0.50%
98.46%
97.80%
-0.05%
Levy
1999
Total
Tax LevyYear
25,137,352
23,757,143$
1998
1996
of Levy
Taxes as
Collected
Percent of
Current Levy
Outstanding
(1)
Tax (2)
and
Delinquent
Percent
2003
- 147 -
2000
2001
26,217,646 96.58% 1.82%
96.53% 1.79%
27,957,126
2005 33,423,311 14.52% 85.48%
CITY OF EVANSTON, ILLINOIS
Analysis of City Government Tax Levies
Last Ten Levy Years
Tax Levy Year 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005
Fund
General Corporate 12,879,799$ 12,540,792$ 12,320,265$ 13,304,293$ 13,986,844$ 13,970,507$ 14,862,246$ 15,504,388$ 16,105,714$ 17,040,816$
Debt Service 6,250,681 6,829,848 6,875,709 7,248,097 7,452,297 7,218,006 7,650,862 8,263,107 8,593,632 8,915,268
19,130,480 19,370,640 19,195,974 20,552,390 21,439,141 21,188,513 22,513,108 23,767,495 24,699,346 25,956,084
Police Pension 2,486,082 2,455,583 2,592,476 2,627,920 2,686,300 2,939,263 3,147,859 3,420,846 4,171,429 4,171,429
Firefighters Pension 2,140,581 1,930,921 1,968,582 1,957,042 2,092,205 2,177,551 2,296,159 2,625,446 3,229,882 3,295,798
23,757,143$ 23,757,144$ 23,757,032$ 25,137,352$ 26,217,646$ 26,305,327$ 27,957,126$ 29,813,787$ 32,100,657$ 33,423,311$
Note:
Schedule does not include Central Business Tax Increment District debt, Howard Hartrey Tax Increment District debt, Southwest Tax
Increment District debt, or Washington National Tax Increment District debt.
- 148 -
CITY OF EVANSTON, ILLINOIS
Property Tax Rates per $100 - Direct and Overlapping Governments
Last Ten Levy Years
Tax Levy Year 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
City of Evanston 2.085 2.059 2.069 1.888 1.934 2.033 1.628 1.610 1.698 1.528
Consolidated Elections - - 0.027 - 0.023 - 0.032 - 0.029 -
Cook County 1.023 0.989 0.919 0.911 0.854 0.824 0.746 0.690 0.630 0.593
Cook County Forest Preserve District 0.072 0.074 0.074 0.072 0.070 0.069 0.067 0.061 0.059 0.060
Suburban T.B. Sanitarium 0.008 0.008 0.008 0.008 0.008 0.008 0.007 0.006 0.004 0.001
Metropolitan Water Reclamation District 0.495 0.492 0.451 0.444 0.419 0.415 0.401 0.371 0.361 0.347
North Shore Mosquito Abatement District 0.011 0.011 0.011 0.011 0.011 0.011 0.010 0.009 0.009 0.008
Evanston Township 0.077 0.076 0.077 0.072 0.072 0.077 0.064 0.062 0.065 0.056
Community College 535 0.233 0.206 0.216 0.205 0.203 0.213 0.186 0.179 0.186 0.161
School District 202 2.946 2.992 3.107 2.905 2.865 2.977 2.469 2.349 2.444 2.078
School District 65 4.245 4.209 4.356 4.126 4.073 4.232 3.516 3.343 3.475 2.978
Total tax rate for property not in park district
or special service district 11.195 11.116 11.315 10.642 10.532 10.859 9.126 8.680 8.960 7.810
Percent of total tax rate levied by City of Evansto 18.6% 18.5% 18.3% 17.7% 18.4% 18.7% 17.8% 18.5% 19.0% 19.6%
*2005 property tax rates were not available at publication of this report.
Government Unit
- 149 -
CITY OF EVANSTON, ILLINOIS
Equalized Assessed Valuation of Taxable Property
Last Ten Levy Years
Real Railroad Total Equalization
Property Property Assessment Factor
1,139,714,098 153,640 1,139,867,738 2.1243
1,153,575,794 356,179 1,153,931,973 2.1517
1,148,286,831 317,786 1,148,604,617 2.1489
1,256,699,519 296,665 1,256,996,184 2.1799
1,300,085,710 286,492 1,300,372,202 2.2505
1,286,161,490 298,315 1,286,459,805 2.2235
1,615,527,795 311,382 1,615,839,177 2.3098
1,737,175,732 368,172 1,737,543,904 2.4689
1,726,750,429 397,456 1,727,147,885 2.4598
2,095,165,000 446,570 2,095,611,570 2.5757
Notes:
(1) Equalized assessed value is based on approximately 33% of estimated actual value.
(2) Equalized assessed values do not include tax increment financing district incremental assessed values.
(3) Equalized assessed values and equalization factor for the levy year 2005 were not available at publication of this report.
2002
- 150 -
2003
2004
1998
Tax
Levy
Year
1997
1995
1996
2000
1999
2001
CITY OF EVANSTON, ILLINOIS
Special Assessment Billings and Collections
Last Ten Levy Years
Total Total
Collections Outstanding
Including Current,
Total Prepayments and Delinquent,
Current Delinquent and Future
Installments Collections Assessments
151,737$ 188,358$ 357,058$
195,698 227,311 582,145
221,200 224,406 755,760
202,662 275,867 742,605
208,794 214,344 765,015
224,764 258,313 737,273
220,564 208,002 684,523
207,711 216,740 1,014,798
261,711 365,554 649,243
242,900 545,655 769,274
2001
2005
2002
- 151 -
2003
2006
2004
1998
1997
Levy
Tax
Year
1999
2000
CITY OF EVANSTON, ILLINOIS
Ratio of Net General Obligation Bonded Debt to Equalized Assessed
Valuation and Net General Obligation Debt Per Capita (City)
(3) Net
(1) Debt Debt Net Debt to
Equalized Service Payable General Equalized
Assessed Monies From Other Obligation Assessed
Valuation Available Revenues Debt Valuation
1,153,931,973 4,199,858$ 62,575,000$ 56,800,093$ 4.92%
1,148,604,617 4,039,098 62,085,000 62,784,777 5.47%
1,256,996,184 4,178,055 68,025,000 58,773,697 4.68%
1,300,372,202 4,182,913 64,175,000 60,623,847 4.66%
1,286,459,805 4,562,562 91,710,000 60,683,167 4.72%
1,615,839,177 5,193,168 86,835,000 55,804,420 3.45%
1,710,663,113 6,942,441 123,720,000 63,424,290 3.71%
1,737,543,904 6,592,437 114,445,000 70,035,897 4.03%
1,727,147,885 6,678,359 106,935,000 73,496,641 4.26%
2,095,611,570 (4)6,551,304 110,212,500 79,111,196 3.78%
Notes:
Equalized assessed values do not include tax increment financing district incremental equalized assessed values.
187,110,000 990.00
943.38
2000
2003 74,239 194,086,731 854.33
74,239
2002
(4)Equalized assessed values for fiscal year ending 2005 were not available at publication of this report; therefore, fiscal year ending 2004 values are used.
- 152 -
817.40
74,239 147,832,588 751.69
74,239 156,955,729
73,233 128,981,760
Net
General
Obligation
Debt
Bonded
Per Capita
802.56
827.82
1997
Debt
Obligation
(2)
Bonded
Gross
Population
2001
128,908,875
130,976,752
2006
1999 73,233
2004 74,239 191,073,334
2005
Ended
857.33
123,574,951$ 775.61 73,233
1998 73,233
Last Ten Fiscal Years
General
Fiscal
Year
74,239 195,875,000 1,065.63
(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.
(2)
(1)
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.
CITY OF EVANSTON, ILLINOIS
Schedule of Direct and Overlapping Debt (City)
Percentage
of Debt City of
Applicable Evanston's
Total to City of Share of Debt
Outstanding Evanston (1)
Direct debt - bonds, notes, and
contracts outstanding (2) 79,111,196$ 100.000% 79,111,196$
Other bonded debt
County of Cook 3,199,185,000 (3) 1.653% 52,875,314
Metropolitan Water Reclamation
District 1,256,985,306 (4) 1.689% 21,232,996
High School District 202 14,396,049 (4) 89.919% 12,944,726
School District 65 37,795,000 89.919% 33,984,735
Skokie Park District 22,043,563 (5) 0.676% 149,059
Total Overlapping Debt 4,530,404,918 121,186,831
Total Direct and Overlapping Debt 4,609,516,114$ 200,298,027$
Notes:
City of Evanston's share based upon 2004 real property valuations.
(2)
Excludes General Obligation Notes issued in lieu of tax anticipation warrants and notes issued to provide interim
construction financing.
Excludes general obligation bonds reported in the enterprise and internal service funds, general obligation notes
payable under line of credit with Northwestern University, and Special Service District No. 5 unlimited ad
valorem tax bonds.
(5)
February 28, 2006
- 153 -
(1)
Excludes $28,884,163 General Obligation bonds issued pursuant to Section 15 of the Local Government Debt
Reform Act ("Alternate Bonds").
(3)
(4)
Includes Cook County Forest Preserve District debt.
CITY OF EVANSTON, ILLINOIS
Ratio of Annual Debt Service Expenditures for General Obligation Debt
to Total General Governmental Expenditures (City)
Last Ten Fiscal Years
(3) Ratio of
(1) (2) Total Debt Service
Interest Total General to General
and Paying Debt Governmental Governmental
Principal Agent Fees Service Expenditures Expenditures
5,203,536$ (3) 4,194,072$ 9,397,608$ 75,417,262$ 12.46%
5,933,536 (3) 3,960,368 9,893,904 (2) 76,910,839 12.86%
5,580,868 (3) 4,490,869 10,071,737 76,092,543 13.24%
6,008,333 4,262,359 10,270,692 (2) 81,103,659 12.66%
6,140,000 4,512,807 10,652,807 82,541,667 12.91%
6,105,000 4,092,174 10,197,174 87,746,814 11.62%
6,465,000 4,713,831 11,178,831 88,374,847 12.65%
9,165,000 5,010,117 14,175,117 93,584,833 15.15%
7,645,000 4,831,383 12,476,383 97,229,896 12.83%
7,435,000 5,673,144 13,108,144 104,683,063 12.52%
Notes:
Excludes interest paid by escrow agent.
Net of bond proceeds paid to escrow agent to advance refund general obligation bonds.
Excludes principal payments made upon maturity of certain Series 1993 Bond Anticipation Bonds.
2006
2002
2003
2004
2005
Ended
2000
2001
1997
1998
1999
Fiscal
Year
(2)
(1)
- 154 -
(3)
CITY OF EVANSTON, ILLINOIS
Legal Debt Margin Information
To date, the General Assembly has not set debt limits for home rule municipalities.
The City Council’s currently approved budget policy includes the following provision:
The principal amount of general obligation debt, which is to be paid through property taxes, shall not at any one
time exceed one hundred-ten million dollars ($110,000,000).
As of February 28, 2006, the amount of direct debt of the City appearing in the direct and overlapping debt
statistical table is $79,111,196. This amount includes certain outstanding general obligation debt to be retired in
future years with nonproperty tax revenue resources. Taking into account the nonproperty tax revenue, the
outstanding debt is within the budget policy guidelines.
- 155 -
The City is a home rule municipality. Article VII, Section 6(k) of the 1970 Illinois Constitution governs
computation of the legal debt margin.
“The General Assembly may limit by law the amount and require referendum approval of debt to be incurred by
home rule municipalities, payable from ad valorem property tax receipts, only in excess of the following
percentages of the assessed value of its taxable property… (2) If its population is more than 25,000 and less than
500,000, an aggregate of one percent;… Indebtedness which is outstanding on the effective date (July 1, 1971)
of this constitution or which is thereafter approved by referendum … shall not be included in the foregoing
ercenta e amounts.”
CITY OF EVANSTON, ILLINOIS
Water Fund
Schedule of Revenue Bond Coverage
Net
(1) Revenue
Direct Available
Gross Operating for Debt (2)
Revenue Expenses Service Principal Interest Total Coverage
12,134,432$ 5,128,622$ 7,005,810$ 1,485,833$ 1,067,950$ 2,553,783$ 2.74x
12,113,182 5,669,524 6,443,658 1,613,334 941,293 2,554,627 2.52x
13,192,965 5,416,366 7,776,599 1,907,500 639,234 2,546,734 3.05x
13,709,645 5,602,297 8,107,348 2,170,000 666,466 2,836,466 2.86x
13,509,413 5,430,908 8,078,505 2,245,000 589,559 2,834,559 2.85x
13,005,269 5,670,480 7,334,789 2,325,000 494,210 2,819,210 2.60x
13,687,288 9,347,238 4,340,050 2,200,000 343,795 2,543,795 1.71x
13,583,515 7,056,290 6,527,225 805,000 235,913 1,040,913 6.27x
13,338,642 6,395,231 6,943,411 805,000 206,575 1,011,575 6.86x
14,380,966 6,705,865 7,675,101 865,000 177,355 1,042,355 7.36x
Notes:
Excludes depreciation and amortization.
Excludes interest paid by escrow agent.(2)
- 156 -
(1)
2001
2002
2003
2004
2006
Last Ten Fiscal Years
1998
1999
2005
1997
2000
Fiscal
Year
Ended
Debt Service Requirements
CITY OF EVANSTON, ILLINOIS
Water Fund
Water Revenues by Area
Northwest
Water
Evanston Skokie Commission Total
6,774,380$ 2,908,102$ 3,367,773$ 13,050,255$
6,811,100 2,918,766 3,283,048 13,012,914
6,606,091 2,859,685 3,247,291 12,713,067
6,711,004 3,011,018 3,434,685 13,156,707
6,665,158 2,959,732 3,367,253 12,992,143
6,559,026 2,802,720 3,377,407 12,739,153
6,706,643 3,018,734 3,750,200 13,475,577
- 157 -
Last Seven Fiscal Years
Fiscal
Schedule of Operating Revenues
2000
2001
2002
Year
Ended
2003
2004
2005
2006
CITY OF EVANSTON, ILLINOIS
Water Fund
Water Pumpage by Area
Northwest
Water
Evanston Skokie Commission Total
3,717.30 3,891.25 9,830.50 17,439.05
3,441.92 3,793.56 9,392.41 16,627.89
3,443.72 3,643.84 9,119.18 16,206.74
3,428.94 3,761.22 9,448.57 16,638.73
3,448.09 3,624.90 9,079.86 16,152.85
3,200.43 3,365.42 8,928.10 15,493.94
3,303.76 3,544.78 9,724.17 16,572.71
- 158 -
Last Seven Fiscal Years
Fiscal
Year
Ended
2004
2005
2000
2001
Pumpage to Distribution System (Millions of Gallons)
2002
2003
2006
CITY OF EVANSTON, ILLINOIS
Water Fund
Ten Largest Water Customers
Cubic Feet of
Rank Name Water Used
1 Northwestern University 39,795,500
2 Evanston Hospital 9,898,200
3 St. Francis Hospital 6,796,200
4 Presbyterian Homes 6,306,400
5 District 202, ETHS 3,790,600
6 Mather Lifeways 2,884,400
7 Albany House 2,582,700
8 North Shore Hotel 2,517,000
9 District 65 Schools 2,221,600
10 Best Western Hotel 1,202,600
Ten Largest Water Customers (2005)
- 159 -
CITY OF EVANSTON, ILLINOIS
Water Fund
Water Allocations and Use - Projected
2000 2005 2010 2015 2020
City of Evanston 9.941 10.070 10.199 10.328 10.453
Village of Skokie 10.950 11.073 11.196 11.319 11.433
Total Original Service Area 20.891 21.143 21.395 21.647 21.886
Village of Arlington Heights 9.667 9.809 9.951 10.093 10.244
Village of Palatine 8.009 8.645 9.281 9.917 10.598
Village of Buffalo Grove 4.922 5.489 6.079 6.098 6.180
Village of Wheeling 4.540 4.710 4.880 4.975 5.070
Total New Service Area ( The Commission) 27.138 28.653 30.191 31.083 32.092
Combined Total 48.029 49.796 51.586 52.730 53.978
Accounting Years Ending September 30
WATER ALLOCATIONS - - USERS OF EVANSTON WATER SYSTEM
(Million Gallons Per Day - - Accounting Years Ending September 30)
- 160 -
CITY OF EVANSTON, ILLINOIS
Demographic Statistics
(4)
Education
(2) Level in
Per (3) Years of (5) (6)
(1) Capita Median Formal School Unemployment
Population Income Age Schooling Enrollment Percentage
73,233 28,117$ 31.9 13.6 9,556 3.90%
73,233 28,740 31.9 13.6 9,764 3.70%
73,233 29,372 31.9 13.6 9,433 3.60%
73,233 30,068 31.9 13.6 10,068 3.50%
74,239 30,068 31.9 13.6 9,999 4.20%
74,239 33,645 32.5 13.6 10,889 5.00%
74,239 36,296 32.5 13.6 9,766 5.40%
74,239 36,296 32.5 13.6 9,849 5.00%
74,239 37,384 32.5 13.6 9,740 5.00%
74,239 39,103 32.5 13.6 9,550 4.50%
Data Sources
U.S. Department of Commerce, Bureau of Economic Analysis based on the national average.
(5)
2001
2002
Evanston school boards - Districts #65 and #202 combined, based on enrollment figures as of September 30
of the previous year.
2003
2004
(2)
2006
2005
1999
- 161 -
Illinois Department of Labor, Research Division. Figures are for Evanston only and represent average annual
unemployment rate for previous calendar year.
U.S. Department of Commerce, Bureau of the Census, 2000 census.
(6)
(4)
U.S. Department of Commerce, Bureau of the Census, 2000 census.
U.S. Department of Commerce, Bureau of the Census, 2000 census.
(1)
(3)
Last Ten Fiscal Years
2000
Fiscal
Year
Ended
1998
1997
CITY OF EVANSTON, ILLINOIS
Construction Value and Property Value
(1) (2)
Construction Property
Value Value
106,310,738$ 3,462,000,000
107,237,350 3,446,000,000
98,163,935 3,771,000,000
176,684,000 3,901,000,000
193,951,036 3,901,000,000
269,726,073 3,998,000,000
132,905,871 4,848,000,000
124,772,892 5,200,000,000
237,211,198 5,181,000,000
240,769,623 6,287,000,000
Data Sources
Ended
1997
- 162 -
2000
(2)
2001
2002
(1)
2003
Estimated actual value.
2006
Last Ten Fiscal Years
City of Evanston building department
1999
2005
2004
1998
Year
Fiscal
CITY OF EVANSTON, ILLINOIS
Principal Taxpayers
(1) Percentage
Equalized of Total
Assessed Assessed
Type of Business Valuation Valuation
Bank One/Office Building 27,694,704$ 1.32%
Office building - 18 story 20,292,050 0.97%
REP CBRE Office building - Church & Davis 19,828,403 0.95%
Church Street Plaza Shopping Center 16,896,273 0.81%
Chicago Avenue Condo Building 14,968,168 0.71%
Hotel 13,091,516 0.62%
Grocery & Drug Stores 12,711,074 0.61%
Shopping Center 12,539,427 0.60%
Hotel 11,654,424 0.56%
Commercial buildings over three
stories, two or three story apartments,
one story store, and parking lot.
158,474,156$ 7.56%
Note:
0.42%St. Francis Hospital 8,798,117
- 163 -
(1)2004 equalized assessed valuation from Cook County Clerk and Assessor's Office
Omni Orrington Hotel
Evanston Hotel
Evanston Plaza Freed
Total Ten Largest Taxpayer
Albertson's (Jewel & Osco)
Church & Chicago LTD. Partnership
Ten Largest Taxpayers
Taxpayers
Rotary International
Golub & Company
CITY OF EVANSTON, ILLINOIS
Miscellanous Statistics
February 28, 2006
Date of Incorporation 1863
Form of Government Council - Manager
Geographic Location On Lake Michigan
Immediately north of Chicago
Area 8.513 Square Miles
Population
1900 19,259
1910 24,978
1920 37,234
1930 63,338
1940 65,389
1950 73,461
1955 74,959
1960 79,283
1970 80,113
1980 73,706
1990 73,233
2000 74,239
Number of Housing Units (2000 Census) 30,817
Per Capita Income $39,103
Annual Gross Retail Sales 2005/06 $867,952,900
Municipal Services and Facilities
Number of Full-Time Employees 891
Miles of Streets 147
Miles of Alleys 76
Miles of Sewers 169
Number of Street Lights 5,641
Value of Construction Authorized in 2005/2006 $240,769,623
Continued
- 164 -
CITY OF EVANSTON, ILLINOIS
Miscellanous Statistics - Continued
February 28, 2006
Fire Protection
Number of Firefighters 107
Number of Other Employees 2
Number of Stations 5
Number of Fire Hydrants 1,236
I.S.O. Rating Class 3
Police Protection
Number of Police Officers 159
Number of School Crossing Guards 38
Number of Parking Enforcement Officers 16
Number of Other Employees 49
Library Services
Number of Branch Libraries 2
Number of Books and Other Materials 505,791
Number of Registered Borrowers 51,676
Loan of Library Materials - 2004/2005 893,841
Recreation Facilities
Number of Parks and Playgrounds 80
Park Area in Acres 289.6
Number of Beaches 5
Municipal Parking Utility
Number of Parking Meters on Streets 1,619
Number of Parking Lots 44
Capacity of Parking Lots 3,404
Metered Spaces 730
Space Rentals and Free Spaces 2,615
Capacity of Parking Garages 2,000
Municipal Water Utility
Population Serviced
Northwest Water Commission 221,364
Evanston 74,360
Skokie 63,633
Filtration Plant Rated Daily Capacity (gallons) 108,000,000
Rated Daily Pumping Capacity (gallons) 147,000,000
Average Daily Pumpage (gallons) 2004/2005 45,573,000
Maximum Daily Pumpage (gallons) 2004/2005 80,457,000
Miles of Water Mains 157.590
- 165 -
TAX INCREMENT FINANCING DISTRICT
REQUIREMENTS