HomeMy WebLinkAbout2004-2005 Annual Comprehensive Financial Report
ILLINOIS
Comprehensive Annual Financial Report
For the Fiscal Year Ended February 28, 2005
CITY OF EVANSTON, ILLINOIS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED
FEBRUARY 28, 2005
Prepared by Finance Department
William A. Stafford
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 10
Statement of Activities 12
Balance Sheet - Governmental Funds 14
Statement of Revenues, Expenditures, and Changes in Fund Balances
Governmental Funds 15
Reconciliation of the Statement of Revenues, Expenditures, and Changes
in Fund Balances of Governmental Funds to the Statement of Activities 16
Proprietary Funds Statement of Net Assets 17
Proprietary Funds Combining Statement of Revenues, Expenses, and
Changes in Fund Net Assets 19
Proprietary Funds Statement of Cash Flows 20
Fiduciary Funds Statement of Net Assets 22
Fiduciary Funds - Pension Trust Funds Statement of Changes in
Plan Net Assets 23
Notes to the Financial Statements
Index for Notes to the Financial Statements 24
Notes to the Financial Statements 27
REQUIRED SUPPLEMENTARY INFORMATION
Firefighters Pension Fund, Police Pension Fund, and Illinois
Municipal Retirement Fund - Schedules of Funding Progress 84
Firefighters and Police Pension Funds - Schedules of
Employer Contribution 85
General Fund - Schedule of Revenues, Expenditures, and Changes
in Fund Balance - Budget and Actual (Budgetary Basis) 86
Notes to the Required Supplementary Information
Firefighters and Police Pension Funds 87
INTRODUCTORY SECTION
FINANCIAL SECTION
i
CITY OF EVANSTON, ILLINOIS
Table of Contents
PAGE
Notes to the Required Supplementary Information
Digest of Changes - IMRF 87
Excess of Actual Expenditures over Budget in Individual Funds 87
GOVERNMENTAL FUND TYPES
Nonmajor Governmental Funds Combining Balance Sheet 88
onmajor Governmental Funds Combining Schedule of Revenues,
Expenditures, and Changes in Fund Balances 93
GENERAL FUND
Schedule of Revenues - Budget and Actual (Budgetary Basis) 97
Schedule of Expenditures - Budget and Actual (Budgetary Basis) 104
SPECIAL REVENUE FUNDS
Motor Fuel Tax Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis) 106
Economic Development Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis) 107
Emergency Telephone System Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis) 108
Mayor's Special Housing Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis) 109
Community Development Block Grant Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis) 110
Schedule of Expenditures - Budget and Actual (Budgetary Basis) 111
Special Service District No. 4 Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis) 114
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 115
Township - General Assistance Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual 116
DEBT SERVICE FUNDS
All Funds
Combining Schedule of Revenues, Expenditures, and Changes in
Fund Balances - Budget and Actual (Budgetary Basis) 117
PROPRIETARY FUND TYPES
WATER FUND
Schedule of Net Assets 119
Schedule of Changes in Net Assets - Reserved - Restricted Accounts 121
Operations and Maintenance Account - Schedule of Revenues, Expenses,
and Changes in Unreserved Net Assets - Budget and Actual 122
Operations and Maintenance Account - Schedule of Operating Revenues
Budget and Actual 123
INTERNAL SERVICE FUNDS
All Funds
Schedule of Net Assets 124
Combining Schedule of Revenues, Expenses, and
Changes in Net Assets 125
Combining Schedule of Cash Flows 126
CAPITAL ASSETS USED IN THE OPERATION OF GOVERNMENTAL FUNDS
Comparative Schedules by Source 128
Schedule by Function and Activity 129
Schedule of Changes by Function and Activity 131
iii
COMBINING, INDIVIDUAL FUND, AND CAPITAL ASSETS STATEMENTS AND
SCHEDULES (Continued)
CITY OF EVANSTON, ILLINOIS
Table of Contents
PAGE
132
133
134
136
Schedule of Insurance in Force 138
Property Tax Rates - Last Ten Levy Years 139
Property Tax Levies and Collections (City) - Last Ten Levy Years 140
Analysis of City Government Tax Levies - Last Ten Levy Years 141
Property Tax Rates per $100 - Direct and Overlapping Governments - Last Ten Levy Years 142
Equalized Assessed Valuation of Taxable Property - Last Ten Levy Years 143
Special Assessment Billings and Collections - Last Ten Levy Years 144
Ratio of Net General Obligation Bonded Debt to Equalized Assessed Valuation and
Net General Obligation Debt Per Capita (City) - Last Ten Fiscal Years 145
Schedule of Direct and Overlapping Debt (City) 146
Ratio of Annual Debt Service Expenditures for General Obligation Debt
to Total General Governmental Expenditures (City) - Last Ten Fiscal Years 147
Legal Debt Margin Information 148
Water Fund - Schedule of Revenue Bond Coverage - Last Ten Fiscal Years 149
Water Fund Revenues by Area - Last Seven Fiscal Years 150
Water Fund Pumpage by Area - Last Seven Fiscal Years 151
Water Fund - Ten Largest Water Customers 152
Water Fund - Water Allocations and Use 153
Demographic Statistics - Last Ten Fiscal Years 154
Construction Value and Property Value - Last Ten Fiscal Years 155
Principal Taxpayers - Ten Largest Taxpayers 156
Miscellaneous Statistics 157
Independent Accountants' Report on Compliance - Tax Increment Financing Districts 159
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, 2005
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
Julia A.Carroll, City Manager
FINANCE DEPARTMENT
William A. Stafford, Finance Director and Comptroller
Barbara V. Zdanowicz, Assistant Finance Director
Bobbie Tolston-Brown, Director of Purchasing and Contracts
Mary Rodino Kutz, Accounting Manager
Patricia P. Ford, Payroll Manager
v
Kevin Lookis, Revenue Manager
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
www.cityofevanston.org
vii
August 15, 2005
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, 2005 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. The City has implemented GASB Statement No. 34,
“Basic Financial Statements – and Management’s Discussion and Analysis – for State and Local
Governments”, including infrastructure reporting. 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
T 847.328.2100
TTY 847.328 4080
www.cityofevanston.org
viii
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, 2005, 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, 2005, 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; apartment, condominium, and student housing; its residents are commuters and locally
employed workers; the 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
present City limits, encompassing an area of approximately 8.5 square miles, have been essentially the
same ever since. The City has four miles of shoreline along Lake Michigan.
2100 Ridge Avenue
Evanston, Illinois 60201-2798
T 847.328.2100
TTY 847.328 4080
www.cityofevanston.org
ix
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
T 847.328.2100
TTY 847.328 4080
www.cityofevanston.org
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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 (three Saturday morning public hearings were held
prior to adoption of the 2005/06 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 2005/2006, the City projects 47.1% ($82.7 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, Sewer Fund and Maple Avenue Garage Fund.
The Enterprise Funds (water and sewer) are operated and budgeted on a full accrual basis. Expenditures
are recognized when a commitment is made (through a purchase order), and revenues are recognized when
they are obligated to the City (for example, water user fees are recognized as revenue when bills are
produced).
Financial Control Procedures: The City reports financial results based on generally accepted accounting
principles as promulgated by the Governmental Accounting Standards Board. The accounts of the City are
divided into separate self-balancing funds comprised of its assets, liabilities, fund equity, revenues, and
expenditures, as appropriate.
2100 Ridge Avenue
Evanston, Illinois 60201-2798
T 847.328.2100
TTY 847.328 4080
www.cityofevanston.org
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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’s downtown area has been undergoing major revitalization in recent years, with the active
support of the City. The downtown area has become significantly more vital, with its mix of new
and existing restaurants, offices, hotels, theaters, and shops. The final phase of the Downtown II
TIF district has been completed with the finishing of the 207 unit Optima Views 20 plus - story
condominium building. This represents a $45 million increase in the equalized assessed valuation
of the property in this district since 1997. Optima Horizons is an additional Downtown II
condominium development of 248 units and a garage. The garage is open and the condominiums
are completed.
• The Sherman Plaza redevelopment is under full construction as of the date of this letter and will
include a new City-owned 1,500 space parking garage on Sherman Avenue, 160,000 square feet of
retail space and 229 condominium units in a 24-story tower. The garage is financed by the City’s
general obligation bonds.
• The City is in the final construction phase of a $190 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.
• Between 1997 and 2003, the number of major crime reported in Evanston fell by 53%. This
current level continues to reflect the lowest crimes levels in over 30 years.
2100 Ridge Avenue
Evanston, Illinois 60201-2798
T 847.328.2100
TTY 847.328 4080
www.cityofevanston.org
xii
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. Sales tax for the fiscal year FY 2005 increased 1.7% which is similar to the increases
experienced by many Chicagoland area municipalities. 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 and a budget process that projects
future operating budgets.
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 and safety training. The City has also settled
the majority of its largest outstanding lawsuits during the last five months.
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
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The City of Evanston (the City) discussion and analysis is designed to (1) assist the reader in focusing on significant
financial issues, (2) provide an overview of the City’s financial activity, (3) identify changes in the City’s financial
position (its ability to address the next and subsequent year challenges), (4) identify any material deviations from the
financial plan (the approved budget), and (5) identify individual fund issues or concerns. We encourage readers to
consider the information presented here in conjunction with additional information that we have furnished in our
letter of transmittal, which can be found on page vii of this report.
FINANCIAL HIGHLIGHTS
• The City’s net assets increased by $29,089,239 (or 14.97%) for the fiscal year reported (FY 2005). The
governmental net assets increased by $19,723,512 (or 34.89% from FY 2004) and the business-type activities
net assets increased by $9,365,727 (or 6.8% from FY 2004).
• The governmental activities revenue increased by $8,466,474 (or 7.82%). The expenditures decreased by
$5,659,119 (or 5.58%).
• The business-type activities revenue decreased by $782,396 (or 2.32%). The expenditures increased by
$429,595 (or 1.76%).
• The total cost of all City programs decreased by $5,229,524 or 4.15%.
• The City of Evanston issued new debt in the amount of $25,085,000 during the current fiscal year. Of this,
$13,355,000 will be used to pay for capital improvements out of the Capital Improvements Fund.
USING THIS ANNUAL REPORT
The financial statement’s focus is on both the City as a whole (government–wide) and on the major individual funds.
Both perspectives (government-wide and major fund) allow the user to address relevant questions, broaden a basis
for comparison and enhance the City’s accountability.
The City’s financial reporting includes the funds of the City (primary government) and, additionally, organizations
for which the City is accountable (component units – the Township). The Evanston Township Board of Trustees are
the same individuals as the City Council members. The Township is blended into the primary government for
financial reporting purposes.
REPORTING THE CITY AS A WHOLE
Government-wide Financial Statements
The City’s annual report includes two government-wide financial statements. These statements provide both long-
term and short-term information about the City’s overall status. Financial reporting at this level uses a perspective
similar to that found in the private sector with its basis in full accrual accounting and elimination or reclassification
of internal activities.
The first of these government-wide statements is the Statement of Net Assets. This is the City-wide statement of
financial position presenting information that includes all of 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
MANAGEMENT’S
DISCUSSION AND ANALYSIS
FEBRUARY 28, 2005
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would extend to other non-financial factors such as diversification of the taxpayer base or the condition of City
infrastructure, in addition to the financial information provided in this report.
The second government-wide statement is the Statement of Activities which reports how the City’s net assets
changed during the current fiscal year. All current year revenues and expenses are included regardless of when the
cash is received or paid. An important purpose of the design of the statement of activities is to show the financial
reliance of the City’s distinct activities or functions on revenues provided by the City’s taxpayers.
Both government-wide financial statements distinguish governmental activities of the City that are principally
supported by taxes and intergovernmental revenues, such as grants, from business-type activities that are intended to
recover all or a significant portion of their costs through user fees and charges. Governmental activities include
general government, public safety, public services, fleet services, insurance fund, and culture and recreation.
Business-type activities include water and sewer utilities, parking, and garages. Fiduciary activities, such as
employee pension plans and agency funds, are not included in the government-wide statements since these assets are
not available to fund City programs.
The government-wide financial statements are presented on pages 10 - 13 of this report.
REPORTING THE CITY’S MOST SIGNIFICANT FUNDS
Fund Financial Statements
A fund is an accountability unit used to maintain control over resources segregated for specific activities or
objectives. The City uses funds to ensure and demonstrate compliance with finance-related laws and regulations.
Within the basic financial statements, fund financial statements focus on the City’s most significant funds rather
than the City as a whole. Major funds are separately reported while all others are combined into a single, aggregated
presentation. Individual fund data for non-major funds is provided in the form of combining schedules in a later
section of this report.
The City has three kinds of funds:
Governmental funds are reported in the fund financial statements and encompass essentially the same functions
reported as governmental activities in the government-wide financial statements. However, the focus is very
different with fund statements, providing a distinctive view of the City’s governmental funds. These statements
report short-term fiscal accountability focusing on the use of spendable resources and balances of spendable
resources available at the end of the year. They are useful in evaluating annual financing requirements of
governmental programs and the commitment of spendable resources for the near-term.
Since the government-wide focus includes the long-term view, comparisons between these two perspectives may
provide insight into the long-term impact of the short-term financing decision. Both the governmental fund balance
sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a
reconciliation to assist in understanding the differences between these two perspectives.
Budgetary comparison statements are included in the basic financial statements for the general fund and major
special revenue fund. Budgetary comparison schedules for the other special revenue funds and the debt service fund
can be found in a later section of this report. These statements and schedules demonstrate compliance with the
City’s adopted and final revised budget.
The basic government fund financial statements are presented on pages 14 – 15 of this report.
Proprietary 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 are provided to customers external to the City organization such as the water utilities and
the parking garages. Internal service funds provide services and charge fees to customers within the City
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organization such as equipment services (repair and maintenance of City vehicles) and the insurance fund.
Because the City’s internal service funds primarily serve governmental functions, they are included within the
governmental activities of the government-wide financial statements.
Proprietary fund statements and statements for discretely presented component units (reporting is similar to
proprietary funds) provide both long-term and short-term financial information consistent with the focus provided
by the government-wide financial statements but with more detail for the Water Fund and the Township. Individual
fund information for internal service funds and non-major enterprise funds is found in combining schedules in a later
section of this report.
The basic proprietary fund financial statements are presented on pages 17 - 21 of this report.
Fiduciary funds such as the employee pension plans are reported in the fiduciary fund financial statements, but are
excluded from the government-wide reporting. Fiduciary fund financial statements report resources that are not
available to fund City programs. Fiduciary fund financial statements report similarly to proprietary funds.
The basic fiduciary fund financial statements are presented on pages 22 - 23 of this report.
Notes to the financial statements
The accompanying notes to the financial statements provide information essential to a full understanding of the
government-wide and fund financial statements. The notes to the financial statements begin on page 27 of this
report.
Other information
In addition to the basic financial statements and accompanying notes, this report also presents certain required
supplementary information concerning the City’s progress in funding its obligation 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 84 -
87 of this report.
Major funds and component units are reported in the basic financial statements as discussed. Combining and
individual statements and schedules for non-major and internal service funds are presented in a subsequent section
of this report beginning on page 88. Additional information on capital assets and long-term debt can be found in
notes (to the financial statements) 49 and 60, respectively.
Financial Analysis of the City as a Whole
The City’s combined net assets increased by $29,089,239 from FY 2004 – an increase from $194,352,212 to
$223,441,451.
STATEMENT OF NET ASSETS
Governmental Activities Business-type Activities Total Primary Government
2005 2004 2005 2004 2005 2004
Current and Other Assets $148,165,127 $150,486,948 $35,542,196 $38,579,066 $183,707,323 $189,066,014
Capital Assets 140,959,825 128,853,599 264,856,918 257,467,197 405,816,743 386,320,796
Total Assets 289,124,952 279,340,547 300,399,114 296,046,263 589,524,066 575,386,810
Long-Term Liabilities 105,722,077 124,593,383 124,190,111 125,402,379 229,912,188 249,995,762
Other Liabilities 107,155,602 98,223,403 29,014,825 32,815,433 136,170,430 131,038,836
Total Liabilities 212,877,679 222,816,786 153,204,936 158,217,812 366,082,615 381,034,598
- 6 -
Governmental Activities Business-type Activities Total Primary Government
2005 2004 2005 2004 2005 2004
Net Assets:
Investment in Capital assets,
net of Debt 426,491 -9,753,068 114,442,311 106,538,749 114,868,802 96,785,681
Restricted 32,810,919 33,415,913 11,274,326 11,157,974 44,085,245 44,573,887
Unrestricted 43,009,863 32,860,916 21,477,541 20,131,728 64,487,404 52,992,644
Total Net Assets $76,247,273 $56,523,761 $147,194,178 $137,828,451 $223,441,451 $194,352,212
The City’s total revenues increased by $7,684,078 or 5.41%. The City’s cost of all programs was decreased by
$5,229,524. Governmental activities increased due to net revenues over expenditures that added monies to the fund
reserves. The main reason for the net asset 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 capital projects.
Governmental Funds: The governmental activities experienced a net increase of $29,089,239. This was mainly due
to a surplus in the General Fund of revenues over expenditures, and settlement of some major liabilities in Insurance
Fund. Increased accumulations of funds in the TIF funds were offset by the spending which occurred in the Motor
Fuel Tax and Emergency Telephone System funds.
Business Funds: The business-type activities experienced a net increase in fund balance of $9,365,727. 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 $90 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 the spring of 2005, demolition and construction began on the Sherman
Plaza project. This project will include a new parking facility as well as a high rise condominium and retail space.
The following table provides a summary of the City’s changes in net assets:
STATEMENT OF CHANGES IN NET ASSETS
Governmental Activities Business-type Activities Total Primary Government
2005 2004 2005 2004 2005 2004
Revenue
Program Revenues:
Charges for services $26,246,493 $23,287,630 $32,623,801 $33,443,731 $58,870,294 $56,731,361
Operating grants and contributions 3,713,201 3,479,547 3,713,201 3,479,547
Capital grants and contributions 212,000 1,458,824 212,000 1,458,824
General Revenues:
Sales taxes 13,984,119 13,421,664 13,984,119 13,421,664
Property taxes 38,738,232 36,768,899 38,738,232 36,768,899
Utility taxes 8,397,773 7,986,489 8,397,773 7,986,489
Other taxes 23,935,340 20,194,349 23,935,340 20,194,349
Investment income 1,547,399 1,710,681 380,859 343,325 1,928,258 2,054,006
Total Revenues 116,774,557 108,308,083 33,004,660 33,787,056 149,779,217 142,095,139
- 7 -
Governmental Activities Business-type Activities Total Primary Government
2005 2004 2005 2004 2005 2004
Expenses
General management and support 14,450,761 15,791,355 14,450,761 15,791,355
Public safety 31,167,640 39,237,180 31,167,640 39,237,180
Public works 14,224,855 13,065,137 14,224,855 13,065,137
Health and human resource development 5,843,522 5,370,262 5,843,522 5,370,262
Recreation and cultural opportunities 18,276,621 17,129,356 18,276,621 17,129,356
Housing and economic development 6,757,476 5,973,494 6,757,476 5,973,494
Interest 5,086,412 4,899,622 5,086,412 4,899,622
Water 8,175,691 8,992,102 8,175,691 8,992,102
Motor vehicle parking system 4,777,494 3,468,096 4,777,494 3,468,096
Sewer 8,781,361 8,964,469 8,781,361 8,964,469
Maple avenue garage 3,148,145 3,028,429 3,148,145 3,028,429
Total Expense 95,807,287 101,466,406 24,882,691 24,453,096 120,689,978 125,919,502
Increase in net assets before transfer 20,967,270 6,841,677 8,121,969 9,333,960 29,089,239 16,175,637
Transfers -1,243,758 -4,335,194 1,243,758 4,335,194 0 0
Increase in net assets 19,723,512 2,506,483 9,365,727 13,669,154 29,089,239 16,175,637
Net Assets - Beginning 56,523,761 54,017,278 137,828,451 124,159,297 194,352,212 178,176,575
Net Assets - Ending $76,247,273 $56,523,761 $147,194,178 $137,828,451 $223,441,451 $194,352,212
Financial Analysis of the City’s Funds
Governmental Funds
As discussed, governmental funds are reported in the fund statement with a short-term, inflow and outflow of
spendable resources focus. This information is useful in assessing resources available at the end of the year in
comparison with upcoming financing requirements. Governmental funds reported ending fund balances of
$108,643,107 as a year-end total, including $20,140,089 unrestricted, indicating availability for continuing City
service requirements. Reserved fund balances include: $447,032 committed to liquidate encumbrances remaining
from prior years, $3,200,000 committed to Illinois Municipal Retirement Fund (IMRF) reserves.
The total ending fund balances of governmental funds show a decrease of $2,580,826 from the prior year. The
decrease is primarily the result of Sherman Garage construction and demolition activities.
Major Governmental Funds
The General Fund is the City’s primary operating fund and the largest source of day-to-day service delivery. The
fund balance of the General Fund increased by $4,117,066. 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 of 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 and increases in sales tax. State shared revenues, such as income taxes and use taxes, continued solid
increases as the economy starts to recover. The City Council has been diligent in assuring that one-time non-
recurring 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 in spite of a poor economy during that
period. This again was a policy objective set by the City Council that has been achieved during less than ideal
economic conditions.
- 8 -
The Washington National Tax Increment District Fund has a fund balance of $25,202,812.
Proprietary Funds
The proprietary fund statements share the same focus as the government-wide statements, reporting both short-term
and long-term information about financial status.
Major Proprietary 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 is supported by external water sales to the Village of Skokie and the
Northwest Water Commission. The Sewer Fund is in the final stages of a $200 million plus sewer renovation
program which is being funded by IEPA loans that are being paid off over twenty years with phased sewer rate
increases which will be finalized in FY 2006. The only business fund that needs to address future financial issues is
the Motor Vehicle Parking system which experienced a $2,024,972 decrease in net assets this year. This is the third
consecutive year the fund has experienced a decrease in net assets. The Parking Committee met and the Council
adopted rate increases in meters, lots, parking taxes, and garage rates amounting to about $1 million in additional
revenues to the Parking Fund per year.
Internal Service Funds
The City’s combined internal service funds’ net assets were a surplus of $216,477 as of February 28, 2005. At
March 1, 2004, the combined funds had a deficit of $17,537,766. Over $12 million of this large increase in net
assets related to one liability case verdict which was settled out of court in July 2005. The City has instituted new
risk management practices and has developed a funding strategy to address the immediate liabilities and future
reserve needs and funding requirements.
General Fund Budgetary Highlights
The original budgets for the General Fund and other funds did not have to be amended this year. Actual
expenditures in the General Fund slightly exceeded budgeted levels.
Capital Assets
The City established a policy of capitalizing equipment and vehicles with $20,000 or more in value and
infrastructure and building improvements with $100,000 or more in value. The City’s investment in capital assets,
net of accumulated depreciation, for governmental and business-type activities as of February 28, 2005, was
$405,816,743. The total increase in this net investment was 9.0% for governmental and 2.0% for business-type
activities. The overall increase was 5.0% for the City as a whole. Major capital asset events during the current
fiscal year included continued construction of the downtown revitalization projects. Readers desiring more
detailed information on capital asset activity should see Note 6 in the Notes to the Financial Statements.
Long-Term Debt
At the end of the fiscal year, the City had total bonded debt outstanding of $187,110,000. Of this amount,
$73,496,641 is funded directly from property taxes. The other major component is $106,935,000 supported by
pledged revenues generated primarily by the business-type activities of the City and the City’s four tax increment
financing (TIF) Districts. During the current year, the City issued $13.355 million in fixed rate general obligation
bonds for capital improvements and $11.730 million in refunding 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.
- 9 -
Bond Ratings
The City’s general obligation bonds are rated Aaa and VIMG-1 by Moody’s Investor Rating Service and AAA by
Fitch Ratings. Evanston City Water Fund revenue bonds are rated Aa1 and AA for uninsured issues. The Aaa and
AAA ratings were confirmed during the year for the Series 2004 bond issue which was for capital improvements.
Economic Factors
The Evanston economy continues to hold firm in spite of a state economy that continues to lag. FY 2002 was the
first year that state revenues actually decreased in almost 50 years and FY 2005 revenues were slightly up from FY
2004, according to Illinois State Comptroller Dan Hynes.
While the state’s unemployment rate continues to be about 5.9%, Evanston’s is closer to 5.0%. Both state and
Evanston sales tax increased in FY 2005. The City’s housing market continued to boom with the largest year ever in
real estate transfer tax receipts of over $4.2 million. For the fifth 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 indicates that number should continue to increase.
The Water Fund continues to generate $7,411,417 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. Half of this 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
completing an over $200 million sewer improvement program.
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’s Finance Department at City of
Evanston, 2100 Ridge Avenue, Evanston, Illinois 60201 or access their website at www.cityofevanston.org.
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BASIC FINANCIAL STATEMENTS
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CITY OF EVANSTON, ILLINOIS
Statement of Net Assets
Governmental Business-type
Activities Activities Total
Cash and equivalents $ 48,245,347 $ 3,627,348 $ 51,872,695
Investments 45,990,805 3,953,897 49,944,702
Receivables (net, where applicable,
of allowances for uncollectibles)
Property taxes 37,443,415 - 37,443,415
Accounts - 4,531,987 4,531,987
Notes 5,450,629 - 5,450,629
Special assessments 649,243 - 649,243
Accrued interest 104,808 18,470 123,278
Other 2,373,574 11,052 2,384,626
Due from other governments 6,391,283 - 6,391,283
Internal balances 1,261,589 (1,261,589) -
Inventories 254,434 612,043 866,477
Restricted assets
Cash and equivalents and investments - 23,739,988 23,739,988
Capital assets
Capital assets not being depreciated 25,162,761 3,297,937 28,460,698
Construction in progress 9,284,228 19,902,342 29,186,570
Capital assets (net of accumulated
depreciation) 106,512,836 241,656,639 348,169,475
Other assets - 309,000 309,000
Total Assets $ 289,124,952 $ 300,399,114 $ 589,524,066
The accompanying notes are an integral part of this statement.
February 28, 2005
Primary Government
Assets
- 10 -
Governmental Business-type
Activities Activities Total
Vouchers payable $ 4,535,159 $ 517,423 $ 5,052,582
Accrued payroll 986,106 76,562 1,062,668
Interest payable 5,713 55,953 61,666
Other payables 166,852 - 166,852
Due to other governments 54,839 - 54,839
Due to pension fund 1,445,371 - 1,445,371
Payable from restricted assets
Vouchers payable - 625,349 625,349
Interest payable - 1,096,762 1,096,762
Unearned revenues 24,572,424 - 24,572,424
Noncurrent liabilities
Payable from restricted assets - due
within one year - 7,584,490 7,584,490
Due within one year 75,389,138 19,058,286 94,447,424
Due in more than one year 105,722,077 124,190,111 229,912,188
Total Liabilities 212,877,679 153,204,936 366,082,615
Investment in capital assets, net of related debt 426,491 114,442,311 114,868,802
Restricted
Pensions - IMRF 3,200,000 - 3,200,000
Compensated absences 2,576,360 - 2,576,360
Culture and recreation 547,648 - 547,648
Debt service 25,310,099 11,274,326 36,584,425
Other 1,176,812 - 1,176,812
Unrestricted 43,009,863 21,477,541 64,487,404
Total Net Assets $ 76,247,273 $ 147,194,178 $ 223,441,451
Primary Government
Liabilities
Net Assets
- 11 -
CITY OF EVANSTON, ILLINOIS
Statement of Activities
Functions/Programs
Governmental activities:
General management and support $ 14,450,761 $ 13,262,430 $ 141,488
Public safety 31,167,640 224,953 136,872
Public works 14,224,855 178,244 2,261,126
Health and human resource development 5,843,522 1,071,628 1,173,715
Recreation and cultural opportunities 18,276,621 3,730,839 -
Housing and economic development 6,757,476 7,778,399 -
Interest 5,086,412 - -
Total governmental activities 95,807,287 26,246,493 3,713,201
Business-type activities:
Water 8,175,691 13,186,845 -
Motor vehicle parking system 4,777,494 3,011,133 -
Sewer 8,781,361 14,913,396 -
Maple avenue garage fund 3,148,145 1,512,427 -
Total business-type activities 24,882,691 32,623,801 -
Total primary governmen $ 120,689,978 $ 58,870,294 $ 3,713,201
General revenues:
Property and other taxes
Sales tax
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.
Year ended February 28, 2005
Program Revenues
Operating
Charges for Grants and
- 12 -
Expenses Services Contributions
$ 152,000 $ (894,843) $ - $ (894,843)
- (30,805,815) - (30,805,815)
- (11,785,485) - (11,785,485)
- (3,598,179) - (3,598,179)
60,000 (14,485,782) - (14,485,782)
- 1,020,923 - 1,020,923
- (5,086,412) - (5,086,412)
212,000 (65,635,593) - (65,635,593)
- - 5,011,154 5,011,154
- - (1,766,361) (1,766,361)
- - 6,132,035 6,132,035
- - (1,635,718) (1,635,718)
- - 7,741,110 7,741,110
$ 212,000 (65,635,593) 7,741,110 (57,894,483)
79,714,394 - 79,714,394
345,000 - 345,000
53,605 - 53,605
4,942,465 - 4,942,465
1,547,399 380,859 1,928,258
(1,243,758) 1,243,758 -
85,359,105 1,624,617 86,983,722
19,723,512 9,365,727 29,089,239
56,523,761 137,828,451 194,352,212
$ 76,247,273 $ 147,194,178 $ 223,441,451
Net (Expense) Revenue and
Capital Changes in Net Assets
Grants and Governmental
Total
- 13 -
Business-type
Contributions Activities Activities
CITY OF EVANSTON, ILLINOIS
Governmental Funds
Balance Sheet
Washington
National
Tax Nonmajor Total
Increment Governmental Governmental
General District Funds Funds
Cash and equivalents 9,012,168$ 2,161,510$ 36,849,192$ 48,022,870$
Investments 2,990,268 24,758,388 11,198,627 38,947,283
Receivables
Property taxes (net of allowance) 14,213,232 - 23,230,183 37,443,415
Notes - - 5,450,629 5,450,629
Special assessments - - 649,243 649,243
Accrued interest 1,375 61,719 41,714 104,808
Other 2,152,622 - 192,960 2,345,582
Due from other governments 5,854,693 - 536,590 6,391,283
Due from other funds 2,407,301 - 4,306,048 6,713,349
Total Assets 36,631,659$ 26,981,617$ 82,455,186$ 146,068,462$
Liabilities
Vouchers payable 1,821,377$ 1,722,632$ 805,913$ 4,349,922$
Accrued payroll 952,730 - 10,805 963,535
Compensated absences payable 452,081 - - 452,081
Other 167,243 - (391) 166,852
Due to other governments 25,575 - 4,525 30,100
Due to other funds 566,032 56,173 6,268,236 6,890,441
Unearned revenues 9,489,038 - 15,083,386 24,572,424
Total Liabilities 13,474,076 1,778,805 22,172,474 37,425,355
Fund Balances
Reserved 7,947,852 - 30,760,728 38,708,580
Unreserved
Capital Project 318,496 25,202,812 24,273,130 49,794,438
Special Revenue Funds - - 5,248,854 5,248,854
General Fund 14,891,235 - - 14,891,235
Total Fund Balances 23,157,583 25,202,812 60,282,712 108,643,107
Total Liabilities and Fund Balances 36,631,659$ 26,981,617$ 82,455,186$
Amounts reported for governmental activities in the statement of net assets are different because:
Capital assets used in governmental activities are not financial resources and, therefore,
are not reported in the funds.134,800,020
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. (167,412,331)
The net assets of the internal service fund are included in the governmental activities in the
statement of net assets.216,477
Net assets of governmental activities 76,247,273$
The accompanying notes are an integral part of this statement.
February 28, 2005
Assets
Liabilities and Fund Balances
- 14 -
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 38,779,313$ -$ 27,964,419$ 66,743,732$
Licenses and permits 6,773,407 - - 6,773,407
Special assessments - - 365,554 365,554
Intergovernmental 14,732,805 - 6,885,157 21,617,962
Charges for services 6,052,956 - - 6,052,956
Fines and forfeits 3,999,105 - - 3,999,105
Investment income 192,461 530,341 817,396 1,540,198
Miscellaneous 8,102,267 - 1,349,283 9,451,550
Total Revenues 78,632,314 530,341 37,381,809 116,544,464
Expenditures
Current
General management and support 12,397,917 235,423 2,032,166 14,665,506
Public safety 28,730,903 - 7,591,720 36,322,623
Public works 12,070,461 - - 12,070,461
Health and human resource development 5,200,662 - 600,000 5,800,662
Recreation and cultural opportunities 15,389,468 - 104,000 15,493,468
Housing and economic development 2,928,285 - 3,788,946 6,717,231
Pensions 1,371,992 - - 1,371,992
Debt service
Principal - - 7,885,000 7,885,000
Interest - - 5,027,536 5,027,536
Fiscal agent fees - - 359,136 359,136
Capital outlay - 9,252,576 8,955,548 18,208,124
Total Expenditures 78,089,688 9,487,999 36,344,052 123,921,739
Excess (Deficiency) of Revenues
Over (Under) Expenditures 542,626 (8,957,658) 1,037,757 (7,377,275)
Other Financing Sources (Uses)
Transfers in 4,264,000 - 1,756,393 6,020,393
Transfers out (689,560) - (14,372,091) (15,061,651)
Issuance of debt - - 25,723,735 25,723,735
Escrow funding - - (11,886,028) (11,886,028)
Total Other Financing Sources (Uses) 3,574,440 - 1,222,009 4,796,449
Net Change in Fund Balances 4,117,066 (8,957,658) 2,259,766 (2,580,826)
Fund Balances -Beginning of Year 19,040,517 34,160,470 58,022,946 111,223,933
Fund Balances - End of Year 23,157,583$ 25,202,812$ 60,282,712$ 108,643,107$
The accompanying notes are an integral part of this statement.
Year ended February 28, 2005
- 15 -
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 $ (2,580,826)
11,819,194
18,970,000
(25,723,735)
(515,364)
Internal service funds are reported separately in the fund financial statements. 17,754,243
Change in net assets of governmental activitie $ 19,723,512
The accompanying notes are an integral part of this statement.
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances
of Governmental Funds to the Statement of Activities
Year ended February 28, 2005
- 16 -
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 2004 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.
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CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Statement of Net Assets
Governmental
Motor Vehicle Activities-
Maple Parking Internal
Avenue System Service
Water Sewer Garage (non-major) Total Funds
Current Assets
Cash and equivalents 136,795$ -$ 780,447$ 2,710,106$ 3,627,348$ 222,477$
Investments - - 3,953,897 - 3,953,897 7,043,522
Receivables -
Accounts - billed 1,068,680 265,433 - - 1,334,113 -
Accounts - unbilled 919,650 2,278,224 - - 3,197,874 -
Accrued interest - 18,470 - - 18,470 -
Other - - - 11,052 11,052 27,992
Due from other funds 319,710 4,669 46,103 85,538 456,020 244
Inventories 479,464 132,579 - - 612,043 254,434
Total Current Assets 2,924,299 2,699,375 4,780,447 2,806,696 13,210,817 7,548,669
Noncurrent Assets
Restricted cash and equivalents
and investments 10,850,215 12,889,773 - - 23,739,988 -
Total Restricted Assets 10,850,215 12,889,773 - - 23,739,988 -
Capital Assets
Land 555,415 - - 2,742,522 3,297,937 -
Construction in progress 1,996,767 17,854,575 51,000 - 19,902,342 -
Capital assets being depreciated 54,465,590 189,969,257 27,128,673 8,506,436 280,069,956 18,209,749
Less accumulated depreciation (12,905,428) (20,160,584) (2,862,617) (2,484,688) (38,413,317) (12,049,944)
Total Capital Assets 44,112,344 187,663,248 24,317,056 8,764,270 264,856,918 6,159,805
Other Assets
Receivables
Notes - - - 309,000 309,000 -
Total Assets 57,886,858$ 203,252,396$ 29,097,503$ 11,879,966$ 302,116,723$ 13,708,474$
The accompanying notes are an integral part of this statement.
February 28, 2005
Business-type Activities- Enterprise Funds
Assets
- 17 -
Governmental
Motor Vehicle Activities-
Maple Parking Internal
Avenue System Service
Water Sewer Garage (non-major) Totals Funds
Current Liabilities (Payable from
Current Assets)
Vouchers payable 360,319$ 33,347$ 57,390$ 66,367$ 517,423$ 185,237$
Accrued payroll 48,816 14,893 - 12,853 76,562 22,571
Interest payable - - - 55,953 55,953 5,713
Compensated absences payable 311,322 71,449 - 71,467 454,238 100,019
General obligation bonds payable - - 16,900,000 545,000 17,445,000 450,000
Unamortized bond expenses and discount - - (35,958) - (35,958) -
Claims payable - - - - - 9,731,084
Due to other government - - - - - 24,739
Due to other funds 1,308,102 253,945 129,870 25,692 1,717,609 6,934
Total Payable from Current Assets 2,028,559 373,634 17,051,302 777,332 20,230,827 10,526,297
Current Liabilities (Payable from
Restricted Assets)
Vouchers payable 10,629 614,720 - - 625,349 -
Interest payable 29,559 1,067,203 - - 1,096,762 -
Notes payable - Sewer IEPA Loans - 5,515,323 - - 5,515,323 -
General obligation bonds payable - 1,925,000 - - 1,925,000 -
Revenue bonds payable 144,167 - - - 144,167 -
Total Payable from Restricted Assets 184,355 9,122,246 - - 9,306,601 -
Long-Term Liabilities
Notes payable - Sewer IEPA Loans - 96,684,688 - - 96,684,688 -
General obligation bonds payable - 20,570,000 - 3,715,000 24,285,000 -
Revenue bonds payable 4,430,833 - - - 4,430,833 -
Unamortized bond expenses and discount 16,662 (32,066) - - (15,404) -
Claims payable - - - - - 2,965,700
Total Long-Term Liabilities 4,447,495 117,222,622 - 3,715,000 125,385,117 2,965,700
Total Liabilities 6,660,409 126,718,502 17,051,302 4,492,332 154,922,545 13,491,997
Invested in capital assets, net of
related debt 39,520,682 63,000,303 7,417,056 4,504,270 114,442,311 5,709,805
Restricted for debt service 11,274,326 - - - 11,274,326 -
Unrestricted 431,441 13,533,591 4,629,145 2,883,364 21,477,541 (5,493,328)
Total net assets 51,226,449$ 76,533,894$ 12,046,201$ 7,387,634$ 147,194,178$ 216,477$
Business-type Activities- Enterprise Funds
Liabilities
Net Assets
- 18 -
CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Combining Statement of Revenues, Expenses, and Changes in Fund Net Assets
Governmental
Maple Motor Vehicle Activities-
Avenue Parking Internal
Garage System Service
Water Sewer Fund (non-major) Total Funds
Operating Revenues
Charges for services 12,739,153$ 14,914,790$ 1,510,411$ 3,001,338$ 32,165,692$ 6,584,000$
Miscellaneous 447,692 (1,394) 2,016 9,795 458,109 93,746
Total Operating Revenues 13,186,845 14,913,396 1,512,427 3,011,133 32,623,801 6,677,746
Operating Expenses Excluding Depreciation
Administration 698,958 - - 1,322,753 2,021,711 -
Operations 5,696,273 1,969,842 1,870,336 1,563,964 11,100,415 (4,160,893)
Total Operating Expenses
Excluding Depreciation 6,395,231 1,969,842 1,870,336 2,886,717 13,122,126 (4,160,893)
Operating Income (Loss) Before Depreciation 6,791,614 12,943,554 (357,909) 124,416 19,501,675 10,838,639
Depreciation 1,296,208 2,607,333 685,553 262,305 4,851,399 1,455,720
Operating Income (Loss) 5,495,406 10,336,221 (1,043,462) (137,889) 14,650,276 9,382,919
Nonoperating Revenues (Expenses)
Investment income 151,797 132,840 4,833 91,389 380,859 15,718
Other nonoperating revenues - - - - - 5,695
Interest expense (201,705) (3,919,997) (574,589) (324,737) (5,021,028) (58,876)
Bond expenses and amortization of discount (3,654) (7,276) (17,667) - (28,597) (1,186)
Gain (loss) on disposition of assets (2,643) (663) - (1,303,735) (1,307,041) 59,973
Total Nonoperating Revenues (Expenses) (56,205) (3,795,096) (587,423) (1,537,083) (5,975,807) 21,324
Income (Loss) Before Transfers 5,439,201 6,541,125 (1,630,885) (1,674,972) 8,674,469 9,404,243
Transfers In (Out)
Downtown TIF Debt Service Fund - - 4,000,000 - 4,000,000 -
Insurance Fund (4,000,000) (4,000,000) - - (8,000,000) -
Fleet Fund - - - (350,000) (350,000) -
Water Fund (1,308,102) - - - (1,308,102) -
Depreciation Improvement & Extension 1,308,102 - - - 1,308,102 -
General Obligation Debt Service Fund (1,308,102) - - - (1,308,102) -
Capital Improvement Fund 4,000,000 4,000,000 - - 8,000,000 -
Water Fund - - - - - 4,000,000
Parking Fund - - - - - 350,000
Sewer Fund - - - - - 4,000,000
Economic Development Fund - - 650,000 - 650,000 -
General Fund (2,615,200) - 314,560 - (2,300,640) -
Change in Net Assets 1,515,899 6,541,125 3,333,675 (2,024,972) 9,365,727 17,754,243
Total Net Assets (Deficit) - Beginning of Year 49,710,550 69,992,769 8,712,526 9,412,606 137,828,451 (17,537,766)
Total Net Assets - End of Year 51,226,449$ 76,533,894$ 12,046,201$ 7,387,634$ 147,194,178$ 216,477$
The accompanying notes are an integral part of this statement.
Year ended February 28, 2005
Business-type Activities- Enterprise Funds
- 19 -
CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Statement of Cash Flows
Governmental
Maple Motor Vehicle Activities-
Avenue Parking Internal
Garage System Service
Water Sewer Fund (non-major) Total Funds
Cash Flows from Operating Activities
Receipts from customers and users 13,029,069$ 15,115,962$ 1,512,427$ 3,123,333$ 32,780,791 6,668,013$
Receipts from interfund services provided (453,667) (4,669) 138,005 (77,129) (397,460) 2,090,516
Payments to suppliers (5,741,123) (3,009,163) (1,917,969) (1,561,847) (12,230,102) (8,825,500)
Payments to employees (730,964) 2,594 - (1,322,707) (2,051,077) (2,482,980)
Payments for interfund services provided 1,308,102 - (271,527) (53,468) 983,107 (38,703)
Net Cash Provided by (Used for) Operating Activities 7,411,417 12,104,724 (539,064) 108,182 19,085,259 (2,588,654)
Cash Flows from Noncapital Financing Activities
Operating transfers (out)
Downtown TIF Debt Serivce Fund - - 4,000,000 - 4,000,000 -
Insurance Fund (4,000,000) (4,000,000) - - (8,000,000) -
Fleet Fund - - - (350,000) (350,000) -
Water Fund (1,308,102) - - - (1,308,102) -
Depreciation Improvement & Extension 1,308,102 - - - 1,308,102 -
General Obligation Debt Service Fund (1,308,102) - - - (1,308,102) -
Capital Improvement Fund 4,000,000 4,000,000 - - 8,000,000 -
Water Fund - - - - - 4,000,000
Parking Fund - - - - - 350,000
Sewer Fund - - - - - 4,000,000
Economic Development Fund - - 650,000 - 650,000 -
General Fund (2,615,200) - 314,560 - (2,300,640) -
Net Cash Provided by (Used for) Noncapital Financing Activities (3,923,302) - 4,964,560 (350,000) 691,258 8,350,000
Cash Flows from Capital and Related Financing Activities
Sale of capital assets - - - - - 281,858
Acquisition and construction of capital assets (3,331,997) (10,216,164) - - (13,548,161) (1,958,941)
Principal paid on revenue bonds (805,000) - - - (805,000) -
Interest paid on revenue bonds (206,575) - - - (206,575) -
Principal paid on general obligation bonds - (1,810,000) (3,200,000) (510,000) (5,520,000) (915,000)
Interest paid on general obligation bonds - (1,383,467) (574,589) (324,737) (2,282,793) (70,885)
Principal paid on IEPA loans - (5,354,606) - - (5,354,606) -
Interest paid on IEPA loans - (2,536,530) - - (2,536,530) -
Proceeds from IEPA loans - 7,901,213 - - 7,901,213 -
Net Cash (Used for) Capital and Related Financing Activities (4,343,572) (13,399,554) (3,774,589) (834,737) (22,352,452) (2,662,968)
Cash Flows from Investing Activities
Proceeds from sales and maturities of investments - - - 408,308 408,308 4,000,000
Purchase of investment - - - - - (7,515,580)
Interest income 151,797 132,840 4,833 91,389 380,859 15,718
Net Cash Provided by Investing Activities 151,797 132,840 4,833 499,697 789,167 (3,499,862)
Net Increase (Decrease) in Cash and Equivalents (703,660) (1,161,990) 655,740 (576,858) (1,786,768) (401,484)
Cash and Equivalents
Beginning of year 11,690,670 14,051,763 4,078,604 3,286,964 33,108,001 623,961
End of yea 10,987,010$ 12,889,773$ 4,734,344$ 2,710,106$ 31,321,233$ 222,477$
Reconciliation
Cash and equivalents
Unrestricted 136,795$ -$ 4,734,344$ 2,710,106$ 7,581,245$ 222,477$
Restricted 10,850,215 12,889,773 - - 23,739,988 -
10,987,010$ 12,889,773$ 4,734,344$ 2,710,106$ 31,321,233$ 222,477$
The accompanying notes are an integral part of this statement.
Continued
Year ended February 28, 2005
Business-type Activities- Enterprise Funds
- 20 -
CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Statement of Cash Flows - Continued
Governmental
Maple Motor Vehicle Activities-
Avenue Parking Internal
Garage System Service
Water Sewer Fund (non-major) Total Funds
Reconciliation of Operating Income (Loss) to Net Cash Provided
by (Used for) Operating Activities
Operating income (loss) 5,495,406$ 10,336,221$ (1,043,462)$ (137,889)$ 14,650,276$ 9,382,919$
Depreciation 1,296,208 2,607,333 685,553 262,305 4,851,399 1,455,720
Changes in assets and liabilities
Other receivables 1,360 160,785 - (8,751) 153,394 (9,733)
Accounts receivable (159,136) - - - (159,136) -
lnterfund receivable (453,667) (4,669) 138,005 (77,129) (397,460) 2,090,516
Inventories (18,080) (21,956) - - (40,036) 35,746
Accrued interest receivable - 41,781 - 120,951 162,732 -
Compensated absences (6,689) (319) - (1,085) (8,093) 487
Accrued payroll (25,317) 2,913 - 1,131 (21,273) 3,432
lnterfund payable 1,308,102 - (271,527) (53,468) 983,107 (38,703)
lnterfund payable (restricted) - 139,191 - - 139,191 -
Vouchers payable 83,784 5,541 (47,633) 8,720 50,412 18,121
Vouchers payable (restricted) (110,554) (1,090,047) - - (1,200,601) -
Interest payable - (72,050) - (6,603) (78,653) -
Claims payable - - - - - (15,468,868)
Due to other governments - - - - - (58,291)
Net Cash Provided by (Used for) Operating Activities 7,411,417$ 12,104,724$ (539,064)$ 108,182$ 19,085,259$ (2,588,654)$
The accompanying notes are an integral part of this statement.
Business-type Activities- Enterprise Funds
- 21 -
Year ended February 28, 2005
CITY OF EVANSTON, ILLINOIS
Fiduciary Funds
Statement of Net Assets
Special Assessmen
Pension Agency
Trust Funds Fund
Assets
Cash and short-term investments 7,378,310$ 21,053$
Receivables
Accrued interest 248,812 -
Due from other funds 3,392,217 20
Total Receivables 3,641,029 20
Investments, at fair value
U.S. Government obligations 37,189,079 -
Common stock 5,072,541 -
Mutual funds 42,283,807 -
Total Investments 84,545,427 -
Total Assets 95,564,766 21,073
Liabilities
Vouchers payable 20,564 -
Due to special assessment bondholders - 21,073
Due to other funds 1,946,866 -
Total Liabilities 1,967,430 21,073
et assets held in trus 93,597,336$ -$
The accompanying notes are an integral part of this statement.
February 28, 2005
- 22 -
CITY OF EVANSTON, ILLINOIS
Fiduciary Funds - Pension Trust Funds
Statement of Changes in Plan Net Assets
Pension
Trust Funds
Additions
Contributions
Employer 6,615,612$
Plan members 1,675,028
Total contributions 8,290,640
Investment income
Net appreciation in
fair value of investments 1,278,904
Interest 2,189,465
Total investment income 3,468,369
Less investment expense 238,002
Net investment income 3,230,367
Total additions 11,521,007
Deductions
Benefits 8,722,677
Refunds of contributions 124,768
Administrative expense 67,648
Total deductions 8,915,093
Net increase 2,605,914
Net assets held in trust for pension benefits
Beginning of year 90,991,422
End of yea 93,597,336$
The accompanying notes are an integral part of this statement.
Year ended February 28, 2005
- 23 -
CITY OF EVANSTON, ILLINOIS
Index for Notes to the Financial Statements
Note 1. Summary of Significant Accounting Policies Page
A. Reporting Entity 27
B. Government-wide and Fund Financial Statements 29
C. Fund Accounting 29
D. Measurement Focus, Basis of Accounting, and Financial Statement Presentation 30
E. Cash and Equivalents 33
F. Investments 33
G. Inventories 34
H. Capital Assets 34
I. Compensated Absences 34
J. Long-Term Obligations 35
K. Self-Insurance 35
L. Property Taxes 35
M. Fund Equity 36
N. Interfund Transactions 36
O. Use of Estimates 36
Note 2. Reconciliation of Government-wide and Fund Financial Statements
A.
37
B.
37
Note 3. Stewardship, Compliance and Accountability
A. Budgetary Information 39
B. Deficit Fund Equity 41
Note 4. Deposits with Financial Institutions and Investments
A. Types of Accounts and Securities 42
B. Pooling of Cash and Investments 42
C. Deposits 43
D. Investments 45
E. Reconciliation of Unrestricted and Restricted Cash and Investments 47
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
-24-
CITY OF EVANSTON, ILLINOIS
Index for Notes to the Financial Statements
(continued from previous page)
Note 5. Receivables
A. Summary of Receivables 48
B. Notes Receivable – Special Revenue Funds 48
Note 6. Capital Assets
A. Capital Asset Activity 49
B. Construction Commitments 51
Note 7. Interfunds
A. Interfund Accounts 52
B. Interfund Transfers 56
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 63
E. Notes Payable – Sewer IEPA Loans 63
F. Prior Years' General Obligation Bond Defeasances 64
G. Industrial Revenue Bonds 65
Note 10. Fund Equity
A. Restrictions of Retained Earnings - Water Fund 65
B. Restrictions of Fund Equity 66
C. Unrestricted Fund Equity - Designated 67
Note 11. Individual Fund Activities
A. General Obligation Debt Service Fund 68
B. Water Fund 68
C. Special Service District No. 4 68
Note 12. Risk Management – Claims and Judgments 69
Note 13. Subsequent Events 70
-25-
CITY OF EVANSTON, ILLINOIS
Index for Notes to the Financial Statements
(continued from previous page)
Note 14. Contingencies 70
Note 15. Joint Ventures
A. Northwestern University 70
B. Solid Waste Agency of Northern Cook County 71
C. Evanston Housing Corporation 73
Note 16. Deferred Compensation Plan 74
Note 17. Defined Benefit Pension Plans
Illinois Municipal Retirement Fund
A. Plan Description 75
B. Funding Status and Progress 76
C. Annual Pension Cost 76
Police and Firefighters' Pension Plans
D. Plan Descriptions 78
E. Summary of Significant Accounting Policies
- Basis of Accounting 79
- Method Used to Value Investments 79
F. Contributions and Reserves 79
G. Concentration of Investments 80
H. Three-Year Trend Information – Pension Trust Funds 81
I. Pensions - Detailed Statement of Net Assets 82
J. Pensions - Detailed Statement of Changes in Net Assets 83
-26-
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
Also implemented in fiscal year 2003, the City adopted the provisions of GASB Statement No. 38 -Certain
Financial Statement Note Disclosures . This Statement modifies, establishes, and rescinds certain financial
statement note disclosures.
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. Fiscal year 2003 was the first year in whichthe City implementedGASB Statement No. 34 -
Basic Financial Statements - and Management's Discussion and Analysis - for State and Local Governments
(GASB 34)and Statement No. 37 - Basic Financial Statements and Management's Discussion and Analysis -
for State and Local Governments: Omnibus . These Statements establish new financial reporting requirements
and significantly change the format and content of the City's comprehensive annual financial report (CAFR).
The City was incorporated in 1863. The City operates under a Council-Manager form of government,is a home
rule municipalityas definedby Illinois state 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
legallya separate entity, it is governedby the same board; therefore,data from this unit is blendedwith data of the
City.
-27-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
A. Reporting Entity - Continued
Blended Component Unit:
Complete financial statements for the Township may be obtained at the following address:
Town of the City of Evanston
1910 Main Street
Evanston, Illinois 60201
Joint Ventures:
The City participates in three joint ventures, which are reported as 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 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-en
Amounts includedin this report are as of and for the year ended March 31, 2004. This report is the most recent
one available.
The Assessor also works to assure equity of assessments, and maintains records of building and demolition
permits and of all tax-exempt properties. The Township Board of Trustees can issue debt on its own behalf, and
such debt can be issued in the Township’s name alone.
The 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.
-28-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
B. Government-wide and Fund Financial Statements
C. Fund Accounting
The government-widefinancial statements (i.e., the statement of net assets and the statement of activities) report
informationon all of the nonfiduciary activities 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 City uses funds to report on its financial position and the results of its operations. A fund is a separate
accounting entity with a self-balancing set of accounts. Fund accounting is designed to demonstrate legal
compliance and to aid financial management by segregating transactions related to certain governmentfunctions
or activities.
Funds are classified into three categories: governmental, proprietary, and fiduciary. Each category, in turn, is
divided into separate "fund types."
The statementof activities demonstratesthe degreeto whichthe direct expensesof a givenfunctionor segmentare
offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or
segment. Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit
from goods, services, or privileges provided by a given function or segment and 2) grants and contributions that
are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and
other items not properly included among program revenues are reported instead as general revenues.
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.
Governmentalfunds are used to account for all or most of the City's generalactivities, includingthe collectionand
disbursementof 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 generalfund 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.
-29-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
C. Fund Accounting – Continued
D. Measurement Focus, Basis of Accounting, and Financial Statement Presentation
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
recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures,as wellas
expenditures related to compensated absences and claims and judgments, 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.
Fiduciary funds are used to account for assets held on behalf of outside parties, including other governments,or
on behalf of other funds within the City. When these assets are held under the terms of a formal trust agreement,
a permanent fund is used. Agency funds generally are used to account for assets that the City holds on behalf of
others as their agent. The pension trust fund accounts for the activities of the Police and Firefighters' Pension
funds, which accumulate resources for pension benefit payments to retired police and fire personnel.
Proprietary funds are used to account for activities similar to those found in the private sector, where the
determination of net income is necessary or useful for sound financial administration. Goods or services from
such activities can be provided either to outside parties (enterprise funds) or to other departments or agencies
primarily within the City (internal service funds). Internal servicefunds are includedwith the governmentalfunds
on the government-wide financial statements.
-30-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
D. Measurement Focus, Basis of Accounting, and Financial Statement Presentation - Continued
Taxes Fines
Property Traffic fines
Sales (Home Rule)
Utility Intergovernmental
Motor fuel tax allotments
Grants
Supplemental Security Income reimbursements
Licenses Income taxes
Sales taxes
Franchise fees
Charges for services Investment income
Recycling program fees and sales
The City reports the following major governmental funds:
The followingrevenuesassociated with the current fiscal period are all consideredto be susceptibleto accrual and
so have been recognized as revenues of the current fiscal period.
All other revenue items are considered to be measurable and available only when cash is received by the City.
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.
-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 proprietary funds:
Additionally, the City reports the following fund types:
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 November 30, 1989, unless those pronouncements
conflict or contradict GASB pronouncements, in which case, GASB prevails.
As a general rule, the effect of interfund activity has been eliminated from the government-wide financial
statements.
Internal Service funds account for the data processing and fleet management 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 Village of Skokie, Illinois and the Northwest Water Commission. All activities necessary to
provide such services are accounted for in this fund, including, but not limited to, administration,
operation, maintenance, financing and related debt service, and billing and collection.
The Maple Avenue Garage Fund accounts for the provision of the public parking facility on Maple
Avenue. All activities are accounted for including administration, operations, financing, and revenue
collection.
-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
E. Cash and Equivalents
F. Investments
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.
Investmentsconsist of certificates of deposit, treasury obligations, and insurance contracts with maturities greater
than three months. Investmentsof the pensiontrust funds are carried at fair value. Investmentswith over one year
to maturity are reported at fair value. All other investmentsare stated at cost or for U.S. governmentsecurities
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.
revenuerecognitioncriteria 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.
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.
Internallydedicatedresources 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 revenues and
expenses generally result from providing services and producing and delivering goods in connection with a
proprietary fund's principal ongoing operations. The principal operating revenues of the enterprise funds and of
the City’s internal servicefunds are charges to customers for sales and services. Operating expenses for enterprise
funds and internal service funds include the cost of sales and services, administrative expenses, and depreciation
on capital assets. All revenuesand expenses not meetingthis definitionare reported as nonoperatingrevenuesand
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 whengrant moniesare receivedprior to the incurrenceof qualifyingexpenditures. In subsequent periods, when
-33-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
G. Inventories
H. Capital Assets
Description Years
Buildings and improvements 10-50
Office equipment and furniture 5-15
Machinery and equipment 5-15
Infrastructure 30-100
Library collections 7
I. Compensated Absences
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.
Property, plant, and equipmentare depreciated using the straight-line method over the followingestimated useful
lives:
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.
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 when incurred in the government-wideand proprietary fund
financial statements. The General Fund has been used in prior years to liquidate the liability for compensated
absences.
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.
-34-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
J. Long-Term Obligations
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
In the government-widefinancial statements and proprietary fund types in the fund financial statements, long-term
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.
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.
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 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.
-35-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued
L. Property Taxes - Continued
M. Fund Equity
N. Interfund Transactions
O. Use of Estimates
The Town Fund and General Assistance Fund unearned revenue represents the net portion of the 2003 property
tax levy that will not be collected within 60 days of the Township's March 31, 2004 year-end. A 2% allowance
for loss is reflected in the Township financial statements.
In the fund financial statements, governmentalfunds report reservations of fund balance for amounts that are not
available for appropriation or are legally restricted by outside parties for use for a specific purpose. Designations
of fund balance represent management plans that are subject to change.
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.
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 between March 1, 2004
and February 28, 2005 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.
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.
-36-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 2. RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS
A.
General obligation bonds payable $ 143,005,000
Special service district bonds payable 3,590,000
Bonds premium liability 2,946,732
Compensated absences payable 6,487,770
Pension contributions payable 11,382,829
Net adjustments to reduce fund balance –
total governmental funds to arrive at net
assets – governmental activities $ 167,412,331
B.
1.
Capital outlay $ 17,570,697
Depreciation expense (5,751,503)
$11,819,194 Continued
Explanation of Certain Differences between the Governmental Fund Balance Sheet and the
Government-wide Statement of Net Assets
The governmentalfund balance sheet includes a reconciliation between fund balance - total governmentalfunds
and net assets – governmentalactivities as reported in the government-widestatement of net assets. One element
of that reconciliationexplains that “long-termliabilities, includingbonds payable, compensatedabsences payable,
and pension contribution payable, are not due and payable in the current period and, therefore, are not reported in
the funds.” The details of this $167,412,331 difference are as follows:
The government fund statement of revenues, expenditures, and changes in fund balances includes a
reconciliation between net changes in fund balances – total governmental funds and changes in net
assets of governmental activities as reported in the government-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 $11,819,194
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 governmentalfunds to
arrive at changes in net assets of
governmental activities
-37-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 2.
B.
2.
Principal repayments:
General obligation debt $ 18,730,000
SSD#5 Bond refunded 240,000
Net adjustment to increase net changes in fund balances –
total governmental funds to arrive at changes in net assets
of governmental activitie $ 18,970,000
3.
Compensated absences $ (413,020)
Notes payable 333,334
Amortization income 230,055
Pension contributions (665,733)
$(515,364)
4.
2004 Bond Series $ 13,355,000
2004 B Bond Series 11,730,000
Bonds premium liability 638,735
Continued
Another elementof that reconciliationstates that "Issuance of 2004 Bonds provides current financial
resources to governmentalfunds, whilethe repayment of the principal of long term debt consumesthe
current financial resources of governmentalfunds." The details of this $25,723,735 differenceare as
follows:
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 $18,970,000 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 ($515,364) difference are as follows:
-38-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 2.
B.
$25,723,735
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.
Continued
RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS
– Continued
Net adjustment to decrease net changes in fund balances –
total governmentalfunds to arrive at changes in net assets of
governmental activities
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 2004/05 fiscal year.
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.
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
-39-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 3. STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
A. Budgetary Information - Continued
Blended Component Unit
The following City and Township funds do not have legally adopted budgets:
Special Revenue
Library, Neighborhood Improvement, HOME, Community Development Loan
Capital Projects
Library, Capital Improvements, Central Business Tax Increment District, Special Assessment
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 25, 2002. 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 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.
-40-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 3. STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
A. Budgetary Information - Continued
General
Fund
Revenues
GAAP basis revenues as reported in the
Combined Statement of Revenues,
Expenditures and Changes in Fund Balances $ 78,632,314
Increase (decrease) due to budgeting
property taxes as revenue in the year of levy 789,131
Budgetary Basis Revenue $ 79,421,445
Expenditures
GAAP basis revenues as reported in the
Combined Statement of Revenues,
Expenditures and Changes in Fund Balances $ 78,089,688
Increase (decrease) due to
Encumbrances - March 1, 2004 (698,796)
Encumbrances - February 28, 2005 447,032
Budgetary Basis Expenditure $ 77,837,924
B. DEFICIT FUND EQUITY
The Insurance Fund had a retained earnings deficit of $5,485,244 as of February 28, 2005. The City plans to use
current resources and possible debt proceeds to pay for future liabilities.
Adjustments necessary to convert City revenues and expenditures for the year ended February 28, 2005 on the
GAAP basis to the budgetary basis are presented below:
-41-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS
A. Types of Accounts and Securities
B. Pooling of Cash and Investments
Except for cash and investments in certain restricted and special accounts, the City pools the cash of various
funds to maximizeinterest earnings. Interest incomeis allocated to the various funds based upon their respective
participation.
In addition, the Firefighters and Police Pension Funds may invest in various equity accounts up to a limit of 35%
of the aggregate book value of the funds’ assets. Also, 10% more may be invested in separate accounts of
insurance companies.
Illinois statutes and the City's investmentpolicies authorize the City to invest in obligations of the U.S. Treasury,
agencies, and instrumentalities of the United States, commercial paper issued by corporations organized in the
UnitedStates with assets exceeding$500,000,000, savings accounts and certificates of deposit issued by financial
institutions insured by the Federal Deposit Insurance Corporation, repurchase agreements, short-term discount
obligations of the Federal National Mortgage Association, dividend or share accounts of a credit union which
accounts are insured, money market mutual funds with portfolios limited to securities guaranteed by the United
States, and the Illinois Funds.
The Illinois Funds is a state-operated money market fund that is AAA rated by Standard & Poors rating Agency
and consists of governmentsecurities that are investedfor 60 days or less. The fair value of IllinoisFunds is the
same as the ownership interest in the fund. Illinois Funds is sponsored by the State Treasurer in accordance with
state law.
-42-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS - Continued
C. Deposits
City
Deposits insured or collateralized with securities
held by the City or by its agent in the City's name $ 14,372,131
Cate or
Deposits collateralized with securities held by the pledging financial
institution's trust department or agent in the City's name -
Category 3
Deposits uncollateralized and uninsured -
$ 14,372,131
Township
$ 115,572
-
40,037
$ 155,609
Deposits collateralized with securities held by the pledging financial
Deposits uncollateralized and uninsured
Total Townshi De osit
Total City Deposits
At March 31, 2004, the carrying amount of the Township's deposits was $150,305. The financial institutions'
alances totaled $155,609 and are cate orized b level of risk as follow
institution's trust department or agent in the Township's name
Category 2
Cate or 3
Category 1
Deposits insured or collateralized with securities
held by the Township or by its agent in the Township's name
Deposits consist of deposits in interest-bearing and noninterest-bearing checking accounts and certificates of
deposit. At February 28, 2005, the carrying amount of the City's deposits, includingcash on hand of $41,277 was
$12,871,357. The financial institutions balances totaled $14,372,131 and are categorized by level of risk as
follows:
Category 1
-43-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS - Continued
C. Deposits - Continued
Entity Total
$ 14,487,703
-
40,037
$ 14,527,740
At February 28, 2005, the carrying amount of deposits, including cash on hand of $41,277 was $13,021,662.
The financial institutions' balances totaled $14,527,740 and are categorized by level of risk as follows:
Total Deposits
its agent in the City's name
Category 2
Deposits collateralized with securities held by the pledging financial
institution's trust department or agent in the City's name
Category 3
Deposits uncollateralized and uninsured
Deposits insured or collateralized with securities held by the City or by
Category 1
-44-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS - Continued
D. Investments
Total Carr in
One Two Three Fair Value
$ 90,797,066 $ - $ - $ 90,797,066
230,292 - - 230,292
5,072,541 - - 5,072,541
+Illinois Funds 29,943,849
^ Government Money
Market Funds - - - 29,202,630
^ Government Mutual
Funds - - - 48,821,349
$ $96 099 899 $ - $ - $ 204 067 727
*$37,189,079 owned by pension trust funds.
Not subject to risk categories
Corporate Bonds
City Category
+ The fair value of the position in the external investment pool is the same as the value of the pool shares and
these investmentsare not subject to risk categorizationand conform to the Illinois Public Funds Act. The fund is
managed by the financial institution in which it is held.
Common Stock
U.S. Government Securities*
The City's investmentsat February 28, 2005 are categorized as follows to give an indication of the level of risk
assumed by the City at year-end.
^ These investmentsare not subject to risk categories. The investmentobjectiveis to maintain a net asset value of
$1.00 per share on a continuous basis. The fund will comply with SEC rules applicable to all money market
Category Three - Uninsuredor unregisteredinvestmentsfor whichthe securities are heldby the counterparty in its
trust department or agent, but not in the City's name.
Category Two - Uninsured or unregistered investments for which the securities are held by the counterparty’s
trust department or agent in the City's name.
Category One - Investmentsthat are insured or registered or securities held by the City or its agent in the City's
name.
-45-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS – Continued
D. Investments - Continued
Township
Total Carrying/
Fair Value
$ 412,786
Total Carrying/
One Two Three Fair Value
U.S. Government Securities $ 90,797,066 $ - $ - $ 90,797,066
Corporate Bonds 230,292 - - 230,292
Common Stock 5,072,541 - - 5,072,541
+Illinois Funds 30,356,635
^Government Money
Market Funds - - - 29,202,630
^Government Mutual
Funds - - - 48,821,349
$ 96,099,899 $ - $ - $ 204,480,513
Illinois Funds–not subject to risk
Not subject to risk categories
Entity Total
^ These investmentsare not subject to risk categories. The investmentobjectiveis to maintain a net asset value of
$1.00 per share on a continuous basis. The fund will comply with SEC rules applicable to all money market
funds.
+ The fair value of the position in the external investment pool is the same as the value of the pool shares and
these investmentsare not subject to risk categorizationand conform to the Illinois Public Funds Act. The fund is
managed by the financial institution in which it is held.
Category
funds.
-46-
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
Unrestricted cash and equivalents $ 51,872,695
Unrestricted investments 49,944,702
Restricted cash and equivalents and investments 23,739,988
Total Cash and Investments – Primary Government 125,557,385
Fiduciary funds cash and equivalents 7,399,363
Fiduciary funds investments 84,545,427
Total Cash and Investments $ 217,502,175
Carrying amount of deposits – from Note 4 C $ 13,021,662
Investments – from Note 4 D 204,480,513
Total $ 217,502,175
The total of unrestricted cash and investments and restricted cash and investments from the Statement of Net
Assets and fiduciary funds is reconciledto the precedingdeposit and investmentdisclosures(Notes 4C and 4D) as
follows:
-47-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 5. RECEIVABLES
A. Summary of Receivables
Washington Motor
National Maple Vehicle Nonmajor
General TIF Avenue Parking and Other
Fund District Water Sewer Garage System Funds Total
Receivables:
Property taxes $ 14,497,497 $ - $ - $ - $ - $ - $ 23,694,787 $ 38,192,284
Accounts - - 1,988,330 2,543,657 - - - 4,531,987
Notes - - - - - - 5,450,629 5,450,629
Special assessments - - - - - - 649,243 649,243
Accrued interest 1,375 61,719 - 18,470 - - 290,526 372,090
Other 2,152,622 - - - - 11,052 220,952 2,384,626
Gross receivables 16,651,494 61,719 1,988,330 2,562,127 - 11,052 30,306,137 51,580,859
Less: allowance for
uncollectibles 284,265 - - - - - 464,604 748,869
Net total receivables $ 16,367,229 $ 61,719 $ 1,988,330 $ 2,562,127 $ - $ 11,052 $ 29,841,533 50,831,990
Less Fiduciary Fund Accrued Interest Included in Nonmajor and Other Funds (248,812)
Net total receivables - Statement of Net Assets $ 50,583,178
B. Notes Receivable – Special Revenue Funds
Beginning Loans Loan End of
of Year Made Repayments Year
$ 4,648,623 $ 1,401,196 $ 654,690 $ 5,395,129
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:
-48-
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, 2005 was as follows:
Balance
March 1, 2004
As Restated Additions Deletions End of Year
Governmental activities:
Capital assets, not being depreciated:
Land $ 6,556,620 $ - $ - $ 6,556,620
Right of way 18,606,141 - - 18,606,141
Construction in progress 3,563,951 9,284,227 3,563,950 9,284,228
Total capital assets,
not being depreciate 28,726,712 9,284,227 3,563,950 34,446,989
Capital assets, being depreciated:
Buildings and improvements 76,477,157 400,740 - 76,877,897
Office equipment and furniture 5,696,745 4,932,751 - 10,629,496
Machinery and equipment 18,089,098 1,963,061 1,139,287 18,912,872
Infrastructure 73,165,617 5,855,557 214,776 78,806,398
Library collections 9,354,086 657,252 82,157 9,929,181
Capitalized leases 1,190,567 - - 1,190,567
Total capital assets
being depreciated 183,973,270 13,809,361 1,436,220 196,346,411
Less accumulated depreciation for:
Buildings and improvements 20,258,772 1,743,780 - 22,002,552
Office equipment and furniture 3,998,521 901,118 - 4,899,639
Machinery and equipment 11,937,840 1,532,312 923,098 12,547,054
Infrastructure 40,555,007 1,646,768 214,776 41,986,999
Library collections 5,905,676 1,383,245 82,157 7,206,764
Capitalized leases 1,190,567 - - 1,190,567
Total accumulated
depreciation 83,846,383 7,207,223 1,220,031 89,833,575
Total capital net assets being
depreciated, net 100,126,887 6,602,138 216,189 106,512,836
Governmental activities capital
assets, net $ 128,853,599 $ 15,886,365 $ 3,780,139 $ 140,959,825
-49-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 6. CAPITAL ASSETS - Continued
A. Capital Asset Activity - Continued
Beginning
of Year Additions Deletions End of Year
Business-type activities:
Capital assets, not being depreciated:
Land $ -$
Construction in progress 6,809,592
Total capital assets, not being depreciated 6,809,592
Capital assets, being depreciated:
Land improvements 4,273
Buildings and improvements 3,880,731
Leasehold improvements -
Plant 67,404
Transmission and distribution system 45,000
Sewer system and underground lines -
Equipment 93,735
Parking meters -
Total capital assets being depreciated 4,091,143
Less accumulated depreciation for:
Land improvements 4,274
Buildings and improvements 2,576,996
Leasehold improvements -
Plant 67,404
Transmission and distribution system 45,000
Sewer system and underground lines -
Equipment 90,428
Parking meters -
Total accumulated depreciation 2,784,102
Total capital net assets being depreciated, net 1,307,041
Business-type activities capital assets, net $ 8,116,633$
241,656,639
264,856,918$
241,022,921
257,467,197 15,506,354$
1,350,386
275,543
38,413,317
620,365
4,157,637
253,567
8,711,431
3,655,417
19,388,971
26,663
4,851,399
1,940,759
80,962
820,622
15,853
689,724
573,266
1,283,274
2,486,769
157,540
237,714
8,089,111
3,127,151
16,902,202
24,229,620
29,586,234
188,719,150
1,967,905
31,428,772
302,752
3,386,672
3,297,937$
23,200,279
19,902,342
3,297,937
16,444,276
13,146,339
183,856,301
3,390,945
35,309,503
29,293,745
22,751,004
-
302,752
-
-
-$
13,565,595
13,565,595
2,015,840
448,851
277,368,941 280,069,956
448,851 -
6,792,158
543,677
5,914,011
248,880
36,346,020
359,893
1,523,616
4,862,849
45,800
-50-
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 $ 2,396,840
Public safety 447,125
Public works 1,830,704
Recreation and cultural opportunities 2,532,554
Total depreciation expense – governmental activities 7,207,223
Business – type activities:
Water $ 1,296,208
Sewer 2,607,333
Maple Avenue Garage 685,553
Motor Vehicle Parking 262,305
Total depreciation expense – business – type activities 4,851,399
B. Construction Commitments
$ 588,718
824,837
3,327,855
$ 4,741,410
Capital Improvement Fund
Water Fund
Sewer Fund
Total Construction Commitments
The value of construction contracts signed, where the work has not yet been performed at February 28, 2005, is as follows:
-51-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7. INTERFUNDS
A. Interfund Accounts
At February 28, 2005 interfund receivables and payables consist of the followin
General Fun
Emergency Telephone Syste $ $
Economic Developmen
HOME
Motor Fuel Tax
Fleet Servic
Insurance
Community Development Block Gra
Community Development Loa
Washington National Tax Increment Distric
Cental Business Tax Increment Distric
General Obligation Deb
Cental Business Tax Increment Distric
Capital Improvement
Maple Avenue Garag
Motor Vehicle Parking Syste
Water
Sewer
Firefighters Pensio
Police Pensio
Total General Fun
Special Revenue Fund
Economic Developmen
General
Special Service District No.
Community Development Block Gra
Total Economic Developmen
Emergency Telephone Syste
General
eighborhood Improvemen
Capital Improvement
Special Service District No. 4
Special Service District No.
Water
Total Special Service District No.
Continue
500,000
- 921
- 31,886
- 30,965
- 4,669
86
566,032
- 32,606
-
-
-
-
194,991
34,800
- 25,448
50,260
208
Due to
Other Funds
2,817
-
-
86
200
-
-
-
Other FundsFunds
-
-
-
58,900
2,641
331,372
4,799 -
-
2,135 -
113,100
Due from
The outstanding balances between funds result mainly from the time lag between the dates that (1) interfund goods and
services are provided or reimbursable expenditures occur, (2) transactions are recorded in the accounting system, and (3)
payments between funds are made.
-
1,255,378
44,332
392,402
2,407,301
-
454,795
24,789
-
-
-
2,817
5,000
-
-
-52-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7. INTERFUNDS - Continued
A. Interfund Accounts - Continued
Special Revenue Funds - Continue
Motor Fuel Tax
General $$
HOME
General
Community Development Block Gra
Total HOM
Community Development Block Gra
General
Community Development Loa
Economic Developmen
HOME
Capital Improvements
Total Community Development Block Grant
Community Development Loan
Community Development Block Grant
General
Total Community Development Loan
Employer Pension Contribution
Firefighters Pension
Police Pension
Total Employer Pension Contribution
Total Special Revenue Funds
Debt Service Funds
General Obligation Debt
General
Water
Washington National Tax Increment District
General
Special Service District No. 5
Economic Development
Special Service District No. 4
Total Special Service District No. 5
Total Debt Service Funds
Continue
-
5,000
12,710
113,100
-
-
38,931
56,641
3,190,597
-
-
1,308,102 -
205,200 -
- 2,641
-
-
331,372
Due to
12,710
207,641
- 125,810
- 205,000
Other Funds
593,213
-
-
- 1,011,867
1,280,701
1,255,378
2,292,568
-
- 58,900
1,333,812
24,789
200
-
205,000
-
Due from
Funds Other Funds
25,710
921 -
1,364,538
-
-53-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7. INTERFUNDS - Continued
A. Interfund Accounts - Continued
Capital Projects Funds
Central Business Tax Increment District
General $ $
Washington National Tax Increment District
Total Central Business Tax
Increment District
Washington National Tax Increment District
Maple Garage
Central Business Tax Increment District
Total Washington National Tax
Increment District
Capital Improvements
Special Assessment
Community Development Block Grant
Neighborhood Improvement
General
Total Capital Improvements
Special Assessment
Capital Improvements
Total Capital Projects Funds
Enterprise Funds
Water
General
Special Service District No. 4
General Obligation Debt
Sewe
Total Water
Motor Vehicle Parking System
General
Fleet
Maple Avenue Garage
Total Motor Vehicle Parking System
Sewer
General
Water
Total Sewer
Continue
-
319,710 1,308,102
- 1,308,102
208
- 1,500,000
56,173
10,070 -
-
- 38,931
34,800
4,669
- 25,448
-
253,945
-
2,194,991 38,931
- 85,538
244
253,945
30,965
2,205,061 1,595,312
-
500,000
-
-
10,070
10,070
-
194,991
85,538
4,669
Other FundsFunds
Due from Due to
-
46,103
-
1,500,000
-
25,692
-
253,945
Other Funds
-
208
-54-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7. INTERFUNDS - Continued
A. Interfund Accounts - Continued
Enterprise Funds - Continued
Maple Avenue Garage
General $ $
Motor Vehicle Parking System
Washington National Capital Project
Total Maple Avenue Garage
Total Enterprise Funds
Internal Service Funds
Fleet Services
General
Parking
Total Fleet Services
Insurance
General
Total Internal Service Funds
Trust and Agency Funds
Firefighters Pensio
Genera
Police Pension
Employer Pension Contribution
Total Firefighters Pension
Police Pension
General
Special Assessment Agency
Firefighters Pension
Employer Pension Contribution
Total Police Pension
Special Assessment Agency
Police Pension
Total Trust and Agency Funds
Total All Funds
Less amounts eliminated during GASB 34 implementation
Less total Firefighters and Police Pension
Total Primary Government
(3,392,237) (3,392,237)
-
244
-
2,380,350
10,387,888
1,261,589$
2,135
1,261,589$
4,799
-
244 6,934
Due from
85,538
44,332
Due to
454,795
-
454,815
1,099,649
- 20
-
1,280,701
-
1,099,649
Other Funds
46,103
46,103
-
-
Funds
456,020 1,717,609
129,870
4,799
Other Funds
392,402
1,492,051
-
-
244
1,011,867
-
1,011,867
-
20 -
3,392,237
(5,734,062)
10,387,888
(5,734,062)
1,946,866
-55-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7. INTERFUNDS - Continued
B. Interfund Transfers
At February 28, 2005 transfers in / out consist of the following:
General Fund
Motor Fuel Tax $$
Mayor’s Special Housing
Washington National Tax Increment District
Howard Hartrey Tax Increment District
Southwest Tax Increment District
General Obligation Debt
Central Business Tax Increment District
Capital Improvements
Special Assessment
Maple Avenue Garage
Water
Total General Fund
Special Revenue Funds
Economic Development
Maple Avenue Garage
Neighborhood Improvement
Capital Improvements
Mayor’s Special Housing
General
CD Loan
HOME
HOME
Community Development Loan
Motor Fuel Tax
General
Total Special Revenue Funds
Continued
200,000
Transfers
125,000
Funds In
257,500
30,900
Transfers
30,900
Out
750,000
Transfers are used to 1) move revenues from the fund with collection authorization to the debt service fund as debt service
principal and interest paymentsbecome due, 2) move restricted amounts from borrowings to the debt service fund to establish
mandatoryreserve 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.
133,900
175,000
314,560
20,600
300,000
2,615,200
4,264,000 689,560
- 650,000
- 500,000
-
- 40,190
30,900
40,190 -
- 750,000
40,190 1,971,090
-56-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7. INTERFUNDS - Continued
B. Interfund Transfers - Continued
Debt Service Funds
General Obligation Debt
General
Capital Improvements
Special Assessment
Water
Total General Obligation Debt
Cental Business Tax Increment District
General $ $
Maple Avenue Garage
Washington National Tax Increment District
Total Cental Business Tax
Increment District
Southwest Tax Increment District
General
Howard Hartrey Tax Increment District
General
Washington National Tax Increment District
General
Cental Business Tax Increment District
Total Washington National Tax
Increment District
Total Debt Service Funds
Capital Projects
Capital Improvements
Sewer
General Obligation Debt
Water
Neighborhood Improvement
General
Total Capital Improvements
Special Assessment
General
General Obligation Debt
Total Special Assessment
Total Capital Projects Funds
Continued
8,696,246 500,000
500,000 8,412,291
- 30,900
-
- 354,791
2,090,948
253,055 -
1,308,102 -
Transfer Transfer
4,000,000
- 845,315
175,000 -
-
354,791 -
- 5,145,315
-
Funds In Out
- 300,000
- 20,600
- 125,000
- 133,900
845,315 -
845,315 133,900
- 4,000,000
2,936,263 5,424,815
- 4,000,000
500,000 -
- 57,500
- 253,055
283,955
-57-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 7. INTERFUNDS - Continued
B. Interfund Transfers - Continued
Enterprise Funds
Water
General $ $
Capital Improvements
Insurance
General Obligation Debt
Total Water
Motor Vehicle Parking System
Fleet
Sewer
Capital Improvements
Insurance
Total Sewer
Maple Avenue Garage
General
Economic Development
Cental Business Tax Increment District
Total Maple Avenue Garage
Total Enterprise Funds
Internal Service Funds
Fleet
Motor Vehicle Parking System
Insurance
Water
Sewer
Total Insurance
Total Internal Service Funds
Total All Funds
Less amounts eliminated during GASB 34 implementation
Total Primary Government $ $
4,000,000 -
12,273,302 12,964,560
314,560 -
650,000 -
- 350,000
4,000,000 7,923,302
Funds In
Transfer Transfer
4,000,000
- 2,615,200
Out
- 1,308,102
-
- 4,000,000
4,000,000 4,000,000
- 4,000,000
1,243,758 1,243,758
4,964,560 -
350,000 -
(27,811,255) (27,811,255)
4,000,000 -
29,055,013
4,000,000 -
-
4,000,000 -
29,055,013
8,350,000 -
8,000,000
-58-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 8. OPERATING LEASES
Minimum annual lease payments are as follows:
Fiscal year ending 2006 $ 158,179
Fiscal year ending 2007 158,179
Fiscal year ending 2008 140,020
Fiscal year ending 2009 74,744
Fiscal year ending 2010 3,157
$ 534,279
The City has various operating leases covering the rental of several digital office copiers from the Toshiba America
InformationSystems, Document Vision Technologies,and GE Capital. The copiers are located in the Evanston Civic Center,
Library, Recreation facilities, Water Department, and the Evanston Police and Fire Statio
Paymentson existing leases include 9 copiers for the Civic Center (monthlypaymentof $776), 3 copiers for Parks/Forestry&
Recreation (monthly payment of $2,626), 2 copiers each for the Police Department and Recreation (monthly payment of
$1,757), and 1 copier for the Fire Department (monthly payment of $410
The lease of 9 copiers for the Library (monthlypayment of $1,486) was terminated in February 2004 and replaced with new
contract as indicated above, and 2 copiers for Parks/Forestry & Recreation with a monthlypayment of $1,062 was terminated
in February 2004 replaced with new contract as indicated above.
During the 2005 fiscal year, the City renewed and signed new lease agreements for copiers. The City renewed the leases for
the existing 8 copiers and added 1 copier for the Library from GE Capital, with a 60 - month term starting February 2004
(monthlypaymentof $1,789), 4 copiers for the Police Department from GE Capital with a 60 - month term starting February
2004 (monthlypaymentof $1,930 and $247), 1 copier for the Hearings Division from Document Vision Technologies with a
60 - month term starting June 2003 (not added in last year's CAFR) (monthly payment of $190), 1 copier for the Budget
Department from Document Vision Technologies with a 60 - month term starting April 2003 (not added in last year's CAFR)
(monthlypayment of $490), 1 copier for the Water Department from Document Vision Technologies with a 36 - month term
starting December 2004 (monthly payment of $305), 3 copiers for Fleet Services from GE Capital with a 36 - month term
starting March 2004 (monthly payment of $600), 1 copier for the Chandler Center from GE Capital with a 60 - month term
starting September 2004 (monthly payment of $302), and 2 copiers for Parks/
Forestry and Recreation with a 60 - month term starting February 2004 (monthly payment of $1,759).
-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 2004 Adjusted Service Funds 2005 One Year
Governmental activities
General obligation bonds/corporate purpose bonds
Series 1995 5.20%-5.70% 12/1/2015 $ 665,000 $ - $ 665,000 $ - $ -
Series 1996 4.20%-5.70% 12/1/2016 2,020,000 - 980,000 1,040,000 1,040,000
Series 1997 5.00%-5.50% 12/1/2017 30,095,000 - 13,435,000 16,660,000 2,260,000
Series 1998 4.80%-4.875% 12/1/2018 8,860,000 - 560,000 8,300,000 600,000
Series 1999 4.25%-5.00% 12/1/2019 35,770,000 - 1,710,000 34,060,000 2,165,000
Series 2000 Variable Rate 12/1/2021 35,200,000 - 3,400,000 31,800,000 31,800,000
Series 2002A Variable Rate 12/1/2018 29,500,000 - - 29,500,000 29,500,000
Series 2002B Variable Rate 12/1/2005 5,500,000 - - 5,500,000 5,500,000
Series 2002C 5.00%-5.80% 1/1/2022 18,800,000 - 4,845,000 13,955,000 1,290,000
Series 2003 2.00%-5.00% 1/1/2010 12,845,000 - 2,560,000 10,285,000 2,540,000
Series 2003B 2.00%-5.25% 1/1/2023 11,485,000 - 415,000 11,070,000 80,000
Series 2004 2.00%-5.00% 12/1/2023 - 13,355,000 13,355,000 130,000
Series 2004B 2.00%-5.25% 12/1/2017 - 11,730,000 145,000 11,585,000 -
Total general obligation bonds/corporate purpose bonds 190,740,000 25,085,000 28,715,000 187,110,000 76,905,000
Less: Business-type activity bonds (49,175,000) - (5,520,000) (43,655,000) (19,370,000)
Total governmental activity bonds 141,565,000 25,085,000 23,195,000 143,455,000 57,535,000
Unamortized bond expenses and discount (1,186) - (1,186) - -
Special Service District #5
Series 2002C rfndg 1996 5.00%-5.80% 1/1/2016 3,550,000 105,000 3,445,000 110,000
Bonds 1995 4.30 - 5.90% 12/1/2015 280,000 - 135,000 145,000 145,000
Total special service district # 5 bonds 280,000 3,550,000 240,000 3,590,000 255,000
Developer's agreement
notes payable 6.10% 2/23/2005 333,334 - 333,334 - -
Bonds premium liability 2,538,052 638,735 230,055 2,946,732 -
Pension contributions 10,717,096 665,733 - 11,382,829 7,315,954
Compensated absences payable- City 8,366,698 413,020 1,739,848 7,039,870 552,100
Claims payable 28,165,652 (9,284,855) 6,184,013 12,696,784 9,731,084
Governmental activity Long-term liabilities $191,964,646 $21,067,633 $31,921,064 $181,111,215 $75,389,138
-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 2004 Adjusted Funds 2005 One Year
Business-type Activities
General obligation bonds/corporate purpose bonds
Sewer $24,305,000 $- $1,810,000 $22,495,000 $ 1,925,000
Maple Avenue Garage 20,100,000 - 3,200,000 16,900,000 16,900,000
Parking System 4,770,000 - 510,000 4,260,000 545,000
Total general obligation bonds/corporate purpose bonds 49,175,000 - 5,520,000 43,655,000 19,370,000
Unamortized bond expenses and discount (79,956) - (28,594) (51,362) -
Water Fund revenue bonds
Series 1997 4.00-4.30%1/1/2006 775,000 - 365,000 410,000 410,000
Series 1999 4.125-4.375%1/1/2014 2,535,000 - 210,000 2,325,000 220,000
Series 2002 2.00-3.75%1/1/2012 2,070,000 - 230,000 1,840,000 235,000
Total Water Fund revenue bonds 5,380,000 - 805,000 4,575,000 865,000
Sewer Fund – Illinois Various
Environmental Protection Through
Agency loans 2.535-3.59%11/26/2021 99,653,404 7,901,213 5,354,606 102,200,011 5,953,538
Compensated absences payable- City 462,331 62,342 70,435 454,238 454,238
Business-type activity long-term
liabilities $ 154,590,779 $ 7,963,555 $ 11,721,447 $ 150,832,887 $ 26,642,776
-61-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 9. LONG-TERM DEBT - Continued
B. General Obli ation Bonds Pa able
Annual debt service requirements to maturity for general obligation bonds are as follow
Year Ending
February 28 Principal Interest Principal Interest
2006 $57,535,000 $ 5,499,342 $ 19,370,000 $ 2,323,367
2007 6,765,000 3,706,794 2,635,000 1,445,218
2008 6,670,000 3,472,764 2,785,000 1,282,325
2009 5,415,000 3,216,629 2,980,000 1,109,885
2010 5,535,000 3,022,240 3,170,000 925,328
2011-2015 31,470,000 11,785,382 11,315,000 2,060,810
2016-2020 20,780,000 5,229,706 1,400,000 169,194
2021-2025 9,285,000 1,024,913 - -
Total $143,455,000 $ 36,957,770 $ 43,655,000 $ 9,316,126
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
Governmental Activities Business-type Activities
General obligation bonds are direct obligations and pledge the full faith and credit of the City. These bonds generally
are issued as 20-ear serial bonds with e ual amounts of rinci al maturin each ea
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 $507,712 due to the swap agreement. Additional
payments for the remainder of the agreement are estimated at approximately $153,000. 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 ca rate of 4.75 effective December 1 2002 throu h November 30
On May 13, 2004, the City issued Series 2004 $13,355,000 in General Obligation bonds at a net interest cost of
4.6291740%. The proceedsare being used to partially finance the City's Long - Range Capital ImprovementProgram
and S ecial Assessment Alle ro ra
On 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
-62-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 9. LONG-TERM DEBT - Continued
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
2006 $ 255,000 $ 183,749
2007 265,000 170,563
2008 285,000 157,313
2009 295,000 143,063
2010 305,000 128,313
2011-2015 1,780,000 393,625
2016-2020 405,000 21,263
Total $ 3,590,000 $ 1,197,886
D. Revenue Bonds Payable
Revenue bond debt service requirements to maturity are as follow
Year Ending
February 28 Principal Interest
2006 $ 865,000 177,355
2007 470,000 145,088
2008 485,000 128,713
2009 510,000 110,913
2010 525,000 91,556
2011-2015 1,720,000 159,988
Total $ 4,575,000 $ 813,611
E. Notes Payable - Sewer IEPA Loans
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
As of February 28, 2005, the City currently has 23 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 accrued
during 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
-63-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 9. LONG-TERM DEBT - Continued
E. Notes Pa able - Sewer IEPA Loans - Continued
Notes payable – Sewer IEPA debt service requirements to maturity are as follow
Year Ending
February 28 Principal Interest
2006 $ 5,953,538 $ 2,743,747
2007 6,372,036 2,679,152
2008 6,560,609 2,490,494
2009 6,754,849 2,296,167
2010 6,954,928 2,095,999
2011-2015 35,520,979 7,314,190
2016-2020 24,747,261 2,844,832
2021-2025 9,100,614 519,262
2026-2030 235,197 3,022
Total $ 102,200,011 $ 22,986,865
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 #########
Series
1996 $ 1,040,000
1997 16,660,000
Business-type Activities
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
In 1999, the City defeased a portion of Series 1994, Series 1995, and Series 1996 Corporate Purpose bonds, by
placing a portion of the proceeds of Series 1999 Bonds in an irrevocable trust to provide for the advance refundingof
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 2005 the followin remainin outstandin balances are considered defease
The outstanding balances of Series 1996 and 1997, not defeased at February 28, 2005, are recorded as a liability in
the Cit ’s financial statements. Those balances are as follow
-64-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 9. LONG-TERM DEBT - Continued
G. Industrial Revenue Bonds
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
-
The City has, in the past, issued industrial revenue development bonds for the benefit of certain organizations. The
City has no obligation for this debt. No liability for the bonds is recorded in the City’s financial statements. The
entire amount of all such obli ations were aid off durin the 2005 fiscal ea
Depreciation, Improvement and Extension - The account shall accumulate$5,100 per month or a greater amount
as may be designated by the City Council. The monies shall be used first to provide an adequate allowance for
depreciation, and may be used to pay for any extraordinary maintenance, repairs, and necessary replacements for
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 not 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 $ 447,032
Reserved for Arts Council 34,375
Reserved for private elm trees 81,002
Reserved for Butterfield sculpture 31,833
Reserved for scholarship contributions 35,453
Reserved for public library acquisitions 205,535
Reserved for recreation group activities 159,450
Reserved for IMRF 3,200,000
Reserved for Compensated absences 2,576,360
Other reserves 1,176,812
Total General Fund 7,947,852
Special Revenue Funds
Reserved for notes receivable 5,395,129
Debt Service Funds
Reserved for debt service 25,310,099
Capital Project Funds
Reserved for notes receivable 55,500
Total Reserved Fund Equity - Governmental Funds $38,708,580
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 $ 38,327,422
Police Pension Fund Restriction for employee pension benefits 55,269,914
Total Fiduciary Funds $93,597,336
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 $ 318,496
Special Revenue Fund
Specific Capital Project
Motor Fuel Tax 2,399,777
Librar 2,261,939
Total Special Revenue Fund 4,661,716
Capital Projects Fund
Specific capital project
Capital Improvement 14,347,402
Central Business Tax Increment Distric 4,215,648
Special Assessment 1,048,364
Washington National Tax Increment Distric 25,202,812
Total Capital Projects Fund 44,814,226
Unrestricted Fund Equity - Designate $ 49,794,438
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 levy for 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 2004 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 01, 2003 $ 1,696,712 $ 21,242,999 $ 22,939,711
New claims and/or estimate revisions 717,986 5,144,300 5,862,286
Claims payments (358,546) (277,800) (636,346)
February 28, 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
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.
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.
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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
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.
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 2005 $29,270,000 general obligationbonds in July 2005. The distribution of proceedsare
as follows: $13,060,000 for the Sherman Plaza garage, $10,005,000 to partially finance the City's long - range
capital improvement program, and $6,205,000 to advance refund the City's outstanding General Obligation
Corporate Purpose bonds, Series 1998.
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.
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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
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.
As of December 31, 2003, the decision has been made to dissolve the organization. The remaining assets of
$27,500 are to be divided among the interested parties. The City's Corporation Counsel plans to file necessary
court documents to dissolve the organization. This is expected to be completed by December 31, 2005. There
was no activity between December 31, 2002 and December 31, 2004, 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.
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.
The authority to designate management, influence operations, and formulate budgets rests with the Board of
Directors and Executive Committee. No one member has the ability to significantly influence operations;
therefore, the Agency is not a component unit of any other governmental reporting entity.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 15. JOINT VENTURES – Continued
B. Solid Waste Agency of Northern Cook County- Continued
Summary of Financial Position as of April 30, 2004:
Current assets $ 7,843,368
Restricted assets 3,735,009
Property, plant, and equipment 15,011,522
Debt issuance costs, net 228,764
Total assets $26,818,663
Current liabilities $ 8,042,074
Long-term debt, net of unamortized discount 9,577,634
Invested in capital assets, net of related debt 1,793,888
Restricted for debt service, net of accrued interest 3,633,342
Unrestricted net assets 3,771,725
Total liabilities and fund equity $26,818,663
Summary of Revenues and Expenses for the Year Ended April 30, 2004:
Total revenues $ 14,555,383
Total expenses (15,169,516)
Net (loss)$(614,133)
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, 2004:
Cash and cash equivalents $ 2,917,945
Mortgage loans receivable 170,609
Total assets 3,088,554
Payables and accrued expenses 24,554
Notes payable 3,064,000
Total liabilities 3,088,554
Net Assets $-
The Corporation is governed by a Board of Directors of ten people, four of whom are selected by the City. The
Board has the authority to approve the annual budget and to arrange for the management of the affairs of the
Corporation. The City has no 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.
The audited financial statements of Evanston Housing Corporation for the year ended December 31, 2004 are
summarized as follows:
The City agreed to jointly participate with various lending institutions in a not-for-profit housing mortgage
corporation by approval of the City Council on May 22, 1989. The purpose of the corporation is to lend
mortgage funds to qualified, income eligible, first-time homebuyers in the City of Evanston.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 15. JOINT VENTURES – Continued
C. Evanston Housing Corporation - Continued
Statement of Activities for the Year Ended December 31, 2004:
Total revenues $ 48,151
Total operating expenses (48,151)
Excess of revenues over expense $ -
NOTE 16. DEFERRED COMPENSATION PLAN
Plan balance at February 28, 2005 $26,625,516
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.
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.
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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 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 2004 and 2003 were 3.97% and 1.74%, respectively, of payroll. The
employer contribution requirements are established and may be amended by the IMRF Board of Trustees.
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 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 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.
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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, 2004 was $52,093,638. Of this amount,
$29,568,219 in payroll earnings were reported to and coveredby the IMRF system. The Township’s total payroll
for the year ended December 31, 2003 was $345,639. Of this amount, $345,639 in payroll earnings were
reported to and covered by the IMRF plan.
For December31, 2004, the City’s annual pension cost of $1,173,858 was equal to the City’s required and actual
contributions. The required contribution was determined as part of the December 31, 2000 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 2004 actuarial valuation were based on the
1999-2001 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, 2004 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
12/31/04 $ 1,173,858 100% -
12/31/03 508,785 100% -
12/31/02 285,616 100% -
Actuarial Percentage
Valuation Annual Pension of APC Net Pension
Date Cost (APC) Contributed Obligation
12/31/03 $ 3,767 100% -
12/31/02 4,302 100% -
12/31/01 7,491 100% -
Three-Year Trend Information for IMRF - Township
Three-Year Trend Information for IMRF - City
For December31, 2003, the Township’s annual pension cost of $3,767 was equal to the Township’s requiredand
actual contributions. The required contribution was determined as part of the December 31, 2001 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 2003 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, 2005 was:
Police Firefighters'
Retirees, disabled participants and beneficiaries of
deceased retirees currently receiving benefits 140 106
Active plan members 158 110
Total 298 216
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, 2005 was $10,217,000 and
$7,376,000, 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 firefighter who retires or is separated from the service after accumulating at least eight years
for a police officer and 10 years for a firefighter, but less than 20 years of creditable service, will receive a
monthly pension after attaining the age of 60 based on the salary attached to the rank held for one year
immediately prior to retirement or separation in the case of a police officer and at the date of retirement or
separation in the case of a firefighter. The amount of the benefit is a tabular percentage of such salary ranging
from 15% for 10 years of service to 50% for 20 years of service. These benefit provisions and all other
requirements are established by state statute.
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 $ 4,274,043 $ 3,041,911
Interest on net pension obligation 513,554 290,214
Adjustment to annual required contribution (426,379) (240,951)
Annual pension cost 4,361,218 3,091,174
Contributions made (3,878,455) (2,908,004)
Increase in net pension obligation 482,763 183,170
Net pension obligation at March 1, 2003 6,847,380 3,869,516
Net pension obligation at February 29, 2004 $ 7,330,143 $ 4,052,686
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, 2004) 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 2/29/04 $ 4,361,218 107.87 % 7,330,143$
2/28/03 3,595,566 99.02 6,847,380
2/28/02 3,316,227 98.10 6,535,390
Firefighters' 2/29/04 $ 3,091,174 106.37 % 4,052,686$
2/28/03 2,733,813 100.63 3,869,516
2/28/02 2,404,827 99.04 3,555,970
The required supplementary information immediately follows the Notes to the Financial Statements.
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CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
NOTE 18. 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 4,309,419$ 3,068,891$ 7,378,310$
Receivables
Accrued interest 70,588 178,224 248,812
Due from other funds 1,011,867 2,380,350 3,392,217
1,082,455 2,558,574 3,641,029
Investments, at fair value
U.S. Government obligations 14,804,243 22,384,836 37,189,079
Common stock 5,072,541 - 5,072,541
Mutual funds 14,568,300 27,715,507 42,283,807
34,445,084 50,100,343 84,545,427
39,836,958 55,727,808 95,564,766
Liabilities
Vouchers payable 17,485 3,079 20,564
Due to other funds 1,492,051 454,815 1,946,866
1,509,536 457,894 1,967,430
Net assets held in trust for pension benefits 38,327,422$ 55,269,914$ 93,597,336$
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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
J. Pensions - Detailed Statement of Changes in Net Assets
Firefighters' Police Total
Pension Pension Pension
Additions
Contributions
Employer 2,886,884$ 3,728,728$ 6,615,612$
Plan members 676,177 998,851 1,675,028
3,563,061 4,727,579 8,290,640
Investment income
Net appreciation in
fair value of investments 548,075 730,829 1,278,904
Interest 912,985 1,276,480 2,189,465
Total investment income 1,461,060 2,007,309 3,468,369
Less investment expense 128,377 109,625 238,002
Net investment income 1,332,683 1,897,684 3,230,367
4,895,744 6,625,263 11,521,007
Deductions
Benefits 3,571,167 5,151,510 8,722,677
Refunds of contributions - 124,768 124,768
Administrative expense 25,910 41,738 67,648
Total deductions 3,597,077 5,318,016 8,915,093
Net increase 1,298,667 1,307,247 2,605,914
Net assets held in trust for pension benefits
Beginning of year 37,028,755 53,962,667 90,991,422
End of year 38,327,422$ 55,269,914$ 93,597,336$
-83-
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
3/1/2004 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
3/1/2004 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)
12/31/2004 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%
12/31/1995 38,365,142 43,076,322 4,711,180 89.06% 18,797,530 25.06%
12/31/1994 32,660,180 42,190,567 9,530,387 77.41% 18,484,399 51.56%
Illinois Municipal Retirement Fund (Township)
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 -
12/31/1994 434,467 358,078 (76,389) 121.33% 309,431 -
12/31/1993 374,609 285,803 (88,806) 131.07% 285,721 -
Information in this table has been presented for as many years as available.
February 28, 2005
Actuarial Accrued
Liability (AAL)
Projected Unit Credit
(b)
Unfunded
AAL
(UAAL)
(b-a)
-84-
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
2004 3,041,911$ N/A 4,274,043$ N/A
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%
1995 2,126,012 99.10% 2,469,918 101.56%
1994 1,963,252 100.86% 2,293,336 100.87%
February 28, 2005
Firefighters' Pension Fund Police Pension Fund
-85-
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, 2005
Original and
Final Budget Actual Variance
Revenues
Taxes $38,190,100 $ 39,568,444 $ 1,378,344
Licenses and permits 6,238,700 6,773,407 534,707
Intergovernmental 14,310,100 14,732,805 422,705
Charges for services 6,231,400 6,052,956 (178,444)
Fines 4,167,500 3,999,105 (168,395)
Investment income 200,000 192,461 (7,539)
Miscellaneous 4,623,200 8,102,267 3,479,067
Total Revenues 73,961,000 79,421,445 5,460,445
Expenditures
General management and support 11,628,300 12,342,855 (714,555)
Public safety 27,814,800 28,704,144 (889,344)
Public works 11,325,000 11,909,910 (584,910)
Health and human resource development 5,344,800 5,196,804 147,996
Recreation and cultural opportunities 14,943,000 15,384,676 (441,676)
Housing and economic development 2,787,400 2,927,543 (140,143)
Pensions 4,006,700 1,371,992 2,634,708
Total Expenditures 77,850,000 77,837,924 12,076
(Deficiency) of Revenues (under) Expenditures (3,889,000)1,583,521 5,472,521
Other Financing Sources (Uses)
Operating transfers in (out)
Motor Fuel Tax Fund 750,000 750,000 -
Housing Fund 30,900 30,900 -
Downtown TIF Debt Service Fund 300,000 300,000 -
Washington National TIF Debt Service Fund 133,900 133,900 -
Southwest TIF II Debt Service Fund 125,000 125,000 -
Southwest TIF I Debt Service Fund 20,600 20,600 -
Maple Avenue Garage (314,560)(314,560)
Capital Improvement Fund 257,500 257,500
Special Assessment Capital Project Fund 30,900 30,900 -
Water Fund 2,615,200 2,615,200 -
Capital Improvement Fund (200,000) (200,000)-
General Obligation Debt Service Fund (175,000) (175,000)-
3,889,000 3,574,440 (314,560)
Excess of Revenues and Other Financing Sources
over Expenditures and Other Financing Uses -$ 5,157,961 5,157,961$
Fund Balance
Beginning of year 26,821,088
End of yea 31,979,049$
-86-
CITY OF EVANSTON, ILLINOIS
Notes to the Required Supplementary Information
NOTE 1. FIREFIGHTERS' AND POLICE PENSION FUNDS
The information presented in the required supplementary schedules was determined as part of the actuarial
valuations at the dates indicated. Additional information as of the latest actuarial valuation follows:
Firefighters'
Pension
Fund
Valuation date March 1, 2004
Actuarial cost method Projected Unit Credit
Amortization method Level percentage of
payroll, closed period
Remaining amortization period 30 years
Asset valuation method Fair market value
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
Community Development Block Grant $ 2,725,859 $ 2,549,932 $ 175,927
Central Business Tax Increment District 1,241,669 729,500 512,169
Howard Hartrey Tax Increment District 883,620 875,713 7,907
Special Service District No. 5 481,669 152,686 328,983
March 1, 2004
Projected Unit Credit
Police
Pension
Fund
Level percentage of
payroll, closed period
The followingCity funds had an excess of actual budgetary expenditures over original and final budget for
the year ended February 28, 2005:
The actuarial assumptions used to determinethe actuarial accrued liability for 2004 are based on the 1999-
2001 Ex erience Stud .
- Fewer members are expected to take refunds early in their career.
30 years
Fair market value
-87-
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
HOME - to account for the activity of the HOME program. Financing is provided by the federal government.
Expenditures are made in accordance with the requirements of federal law.
Community Development Block Grant - to account for revenues and expenditures of the community block grant
program. Financing is provided by the federal government on a reimbursement basis in accordance with federal
formula. Expenditures are made in accordance with requirements of federal law.
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.
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.
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.
Township Funds
Town - to account for general adminstrative services.
Debt Service funds are used to account for the servicing of general long-term debt.
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.
Washington National Tax Increment District - to account for the design and building of a new Sherman Plaza
garage financed primarily by general obligation bond proceeds.
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.
Central Business Tax Increment District - accumulated monies for the principal and interest payments on debt
issued for this special taxing district.
Southwest Tax Increment District - accumulated monies for the principal and interest payments on debt issued
for this special taxing district.
Howard Hartrey Tax Increment District - accumulated monies for the principal and interest payments on debt
issued for this special taxing district.
Washington National Tax Increment District - accumulated monies for the principal and interest payments on
debt issued for this special taxing district.
Special Revenue Funds - Continued
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.
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 1,904,230$ 944,335$ 2,380,359$ 58,276$
Investments - - - 2,200,731
Receivables
Property taxes (net of allowance)
Current year levy - - - -
Notes - - - -
Allowance - - - -
Special assessments - - - -
Accrued interest - - - 2,932
Other - 20,925 139,999 -
Due from other governments 164,175 - - -
Due from other funds 331,372 - - -
Total Assets 2,399,777$ 965,260$ 2,520,358$ 2,261,939$
Liabilities
Vouchers payable -$ 10,811$ 14,648$ -$
Accrued payroll - 2,110 5,319 -
Other - - - -
Due to other governments - - - -
Due to other funds - 32,606 86 -
Unearned revenues - - - -
Total Liabilities - 45,527 20,053 -
Fund Balances
Reserved for notes receivable - - - -
Reseved for debt service - - - -
Unreserved
Capital projects 2,399,777 - - 2,261,939
Undesignated - 919,733 2,500,305 -
Total Fund Balances 2,399,777 919,733 2,500,305 2,261,939
Total Liabilities and Fund Balances 2,399,777$ 965,260$ 2,520,358$ 2,261,939$
Liabilities and Fund Balances
- 88 -
Assets
February 28, 2005
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
522,498$ 281,513$ 124,552$ 1,167$ 635,912$ 939$ -$ 6,853,781$
- - - - - - - 2,200,731
- - - - - 247,205 6,589,799 6,837,004
- 1,413,766 2,499,526 12,799 1,469,038 - - 5,395,129
- - - - - - - -
- - - - - - - -
- - - - - - - 2,932
- - - - - - - 160,924
- - 55,537 316,878 - - - 536,590
- - - 56,641 205,200 - - 593,213
522,498$ 1,695,279$ 2,679,615$ 387,485$ 2,310,150$ 248,144$ 6,589,799$ 22,580,304$
-$ 1,500$ 7,025$ 163,669$ 22,826$ -$ -$ 220,479$
- - - 3,376 - - - 10,805
- - - - (391) - - (391)
- - - - - - - -
500,000 - 125,810 207,641 - 31,886 2,292,568 3,190,597
- - - - - 141,157 4,297,231 4,438,388
500,000 1,500 132,835 374,686 22,435 173,043 6,589,799 7,859,878
- 1,413,766 2,499,526 12,799 1,469,038 - - 5,395,129
- - - - - - - -
- - - - - - - 4,661,716
22,498 280,013 47,254 - 818,677 75,101 - 4,663,581
22,498 1,693,779 2,546,780 12,799 2,287,715 75,101 - 14,720,426
522,498$ 1,695,279$ 2,679,615$ 387,485$ 2,310,150$ 248,144$ 6,589,799$ 22,580,304$
Continued
- 89 -
Special Revenue
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Balance Sheet - Continued
Total
Town General Township
Fund Assistance Funds Total
Cash and equivalents 198,838$ 364,253$ 563,091$ 7,416,872$
Investments - - - 2,200,731
Receivables
Property taxes (net of allowance)
Current year levy 215,030 560,513 775,543 7,612,547
Notes - - - 5,395,129
Allowance - - - -
Special assessments - - - -
Accrued interest - - - 2,932
Other - 31,736 31,736 192,660
Due from other governments - - - 536,590
Due from other funds 173,962 - 173,962 767,175
Total Assets 587,830$ 956,502$ 1,544,332$ 24,124,636$
Liabilities
Vouchers payable 25,276$ 47,538$ 72,814$ 293,293$
Accrued payroll - - - 10,805
Other - - - (391)
Due to other governments - 4,525 4,525 4,525
Due to other funds - 173,962 173,962 3,364,559
Unearned revenues 196,436 511,322 707,758 5,146,146
Total Liabilities 221,712 737,347 959,059 8,818,937
Fund Balances
Reserved for notes receivable - - - 5,395,129
Reseved for debt service - - - -
Unreserved
Capital projects - - - 4,661,716
Undesignated 366,118 219,155 585,273 5,248,854
Total Fund Balances 366,118 219,155 585,273 15,305,699
Total Liabilities and Fund Balances 587,830$ 956,502$ 1,544,332$ 24,124,636$
Liabilities and Fund Balances
- 90 -
Assets
February 28, 2005
Special Revenue
Central Howard Washington
Special Business Southwest Hartrey National
General Service Tax Tax Tax Tax
Obligation District Increment Increment Increment Increment
Debt No.5 District District District District Total
962,089$ 23,156$ 7,604,587$ 590,086$ 1,765,233$ 5,055,513$ 16,000,664$
3,023,202 - - - - - 3,023,202
7,431,205 427,951 4,998,705 577,515 1,199,891 982,369 15,617,636
- - - - - - -
- - - - - - -
- - - - - - -
4,583 - - - - - 4,583
- - - - - - -
- - - - - - -
1,308,102 25,710 - - - - 1,333,812
12,729,181$ 476,817$ 12,603,292$ 1,167,601$ 2,965,124$ 6,037,882$ 35,979,897$
2,634$ -$ 5,976$ -$ -$ 8,653$ 17,263$
- - - - - - -
- - - - - - -
- - - - - - -
1,255,378 - 50,260 - - 58,900 1,364,538
4,792,810 242,155 2,753,141 307,571 691,665 500,655 9,287,997
6,050,822 242,155 2,809,377 307,571 691,665 568,208 10,669,798
- - - - - - -
6,678,359 234,662 9,793,915 860,030 2,273,459 5,469,674 25,310,099
- - - - - - -
- - - - - - -
6,678,359 234,662 9,793,915 860,030 2,273,459 5,469,674 25,310,099
12,729,181$ 476,817$ 12,603,292$ 1,167,601$ 2,965,124$ 6,037,882$ 35,979,897$
Continued
- 91 -
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 7,653,620$ 3,229,672$ 2,548,364$ 13,431,656$ 36,849,192$
Investments 4,984,764 989,930 - 5,974,694 11,198,627
Receivables
Property taxes (net of allowance)
Current year levy - - - - 23,230,183
Notes 55,500 96,649 - 152,149 5,547,278
Allowance - (96,649) - (96,649) (96,649)
Special assessments - - 649,243 649,243 649,243
Accrued interest 34,199 - - 34,199 41,714
Other 300 - - 300 192,960
Due from other governments - - - - 536,590
Due from other funds 2,194,991 10,070 - 2,205,061 4,306,048
Total Assets 14,923,374$ 4,229,672$ 3,197,607$ 22,350,653$ 82,455,186$
Liabilities
Vouchers payable 481,541$ 13,816$ -$ 495,357$ 805,913$
Accrued payroll - - - - 10,805
Other - - - - (391)
Due to other governments - - - - 4,525
Due to other funds 38,931 208 1,500,000 1,539,139 6,268,236
Unearned revenues - - 649,243 649,243 15,083,386
Total Liabilities 520,472 14,024 2,149,243 2,683,739 22,172,474
Fund Balances
Reserved for notes receivable 55,500 - - 55,500 5,450,629
Reseved for debt service - - - - 25,310,099
Unreserved
Capital projects 14,347,402 4,215,648 1,048,364 19,611,414 24,273,130
Undesignated - - - - 5,248,854
Total Fund Balances 14,402,902 4,215,648 1,048,364 19,666,914 60,282,712
Total Liabilities and Fund Balances 14,923,374$ 4,229,672$ 3,197,607$ 22,350,653$ 82,455,186$
Concluded
Liabilities and Fund Balances
- 92 -
Capital Projects
Assets
February 28, 2005
THIS PAGE INTENTIONALLY LEFT BLANK
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
HOME - to account for the activity of the HOME program. Financing is provided by the federal government.
Expenditures are made in accordance with the requirements of federal law.
Community Development Block Grant - to account for revenues and expenditures of the community block grant
program. Financing is provided by the federal government on a reimbursement basis in accordance with federal
formula. Expenditures are made in accordance with requirements of federal law.
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.
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.
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.
Township Funds
Town - to account for general adminstrative services.
Debt Service funds are used to account for the servicing of general long-term debt.
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.
Washington National Tax Increment District - to account for the design and building of a new Sherman Plaza
garage financed primarily by general obligation bond proceeds.
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.
Central Business Tax Increment District - accumulated monies for the principal and interest payments on debt
issued for this special taxing district.
Southwest Tax Increment District - accumulated monies for the principal and interest payments on debt issued
for this special taxing district.
Howard Hartrey Tax Increment District - accumulated monies for the principal and interest payments on debt
issued for this special taxing district.
Washington National Tax Increment District - accumulated monies for the principal and interest payments on
debt issued for this special taxing district.
Special Revenue Funds - Continued
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.
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Balance Sheet
Emergency
Motor Economic Telephone
Fuel Tax Development System Library
Cash and equivalents 1,904,230$ 944,335$ 2,380,359$ 58,276$
Investments - - - 2,200,731
Receivables
Property taxes (net of allowance)
Current year levy - - - -
Notes - - - -
Allowance - - - -
Special assessments - - - -
Accrued interest - - - 2,932
Other - 20,925 139,999 -
Due from other governments 164,175 - - -
Due from other funds 331,372 - - -
Total Assets 2,399,777$ 965,260$ 2,520,358$ 2,261,939$
Liabilities
Vouchers payable -$ 10,811$ 14,648$ -$
Accrued payroll - 2,110 5,319 -
Other - - - -
Due to other governments - - - -
Due to other funds - 32,606 86 -
Unearned revenues - - - -
Total Liabilities - 45,527 20,053 -
Fund Balances
Reserved for notes receivable - - - -
Reseved for debt service - - - -
Unreserved
Capital projects 2,399,777 - - 2,261,939
Undesignated - 919,733 2,500,305 -
Total Fund Balances 2,399,777 919,733 2,500,305 2,261,939
Total Liabilities and Fund Balances 2,399,777$ 965,260$ 2,520,358$ 2,261,939$
Liabilities and Fund Balances
- 88 -
Assets
February 28, 2005
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
522,498$ 281,513$ 124,552$ 1,167$ 635,912$ 939$ -$ 6,853,781$
- - - - - - - 2,200,731
- - - - - 247,205 6,589,799 6,837,004
- 1,413,766 2,499,526 12,799 1,469,038 - - 5,395,129
- - - - - - - -
- - - - - - - -
- - - - - - - 2,932
- - - - - - - 160,924
- - 55,537 316,878 - - - 536,590
- - - 56,641 205,200 - - 593,213
522,498$ 1,695,279$ 2,679,615$ 387,485$ 2,310,150$ 248,144$ 6,589,799$ 22,580,304$
-$ 1,500$ 7,025$ 163,669$ 22,826$ -$ -$ 220,479$
- - - 3,376 - - - 10,805
- - - - (391) - - (391)
- - - - - - - -
500,000 - 125,810 207,641 - 31,886 2,292,568 3,190,597
- - - - - 141,157 4,297,231 4,438,388
500,000 1,500 132,835 374,686 22,435 173,043 6,589,799 7,859,878
- 1,413,766 2,499,526 12,799 1,469,038 - - 5,395,129
- - - - - - - -
- - - - - - - 4,661,716
22,498 280,013 47,254 - 818,677 75,101 - 4,663,581
22,498 1,693,779 2,546,780 12,799 2,287,715 75,101 - 14,720,426
522,498$ 1,695,279$ 2,679,615$ 387,485$ 2,310,150$ 248,144$ 6,589,799$ 22,580,304$
Continued
- 89 -
Special Revenue
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Balance Sheet - Continued
Total
Town General Township
Fund Assistance Funds Total
Cash and equivalents 198,838$ 364,253$ 563,091$ 7,416,872$
Investments - - - 2,200,731
Receivables
Property taxes (net of allowance)
Current year levy 215,030 560,513 775,543 7,612,547
Notes - - - 5,395,129
Allowance - - - -
Special assessments - - - -
Accrued interest - - - 2,932
Other - 31,736 31,736 192,660
Due from other governments - - - 536,590
Due from other funds 173,962 - 173,962 767,175
Total Assets 587,830$ 956,502$ 1,544,332$ 24,124,636$
Liabilities
Vouchers payable 25,276$ 47,538$ 72,814$ 293,293$
Accrued payroll - - - 10,805
Other - - - (391)
Due to other governments - 4,525 4,525 4,525
Due to other funds - 173,962 173,962 3,364,559
Unearned revenues 196,436 511,322 707,758 5,146,146
Total Liabilities 221,712 737,347 959,059 8,818,937
Fund Balances
Reserved for notes receivable - - - 5,395,129
Reseved for debt service - - - -
Unreserved
Capital projects - - - 4,661,716
Undesignated 366,118 219,155 585,273 5,248,854
Total Fund Balances 366,118 219,155 585,273 15,305,699
Total Liabilities and Fund Balances 587,830$ 956,502$ 1,544,332$ 24,124,636$
Liabilities and Fund Balances
- 90 -
Assets
February 28, 2005
Special Revenue
Central Howard Washington
Special Business Southwest Hartrey National
General Service Tax Tax Tax Tax
Obligation District Increment Increment Increment Increment
Debt No.5 District District District District Total
962,089$ 23,156$ 7,604,587$ 590,086$ 1,765,233$ 5,055,513$ 16,000,664$
3,023,202 - - - - - 3,023,202
7,431,205 427,951 4,998,705 577,515 1,199,891 982,369 15,617,636
- - - - - - -
- - - - - - -
- - - - - - -
4,583 - - - - - 4,583
- - - - - - -
- - - - - - -
1,308,102 25,710 - - - - 1,333,812
12,729,181$ 476,817$ 12,603,292$ 1,167,601$ 2,965,124$ 6,037,882$ 35,979,897$
2,634$ -$ 5,976$ -$ -$ 8,653$ 17,263$
- - - - - - -
- - - - - - -
- - - - - - -
1,255,378 - 50,260 - - 58,900 1,364,538
4,792,810 242,155 2,753,141 307,571 691,665 500,655 9,287,997
6,050,822 242,155 2,809,377 307,571 691,665 568,208 10,669,798
- - - - - - -
6,678,359 234,662 9,793,915 860,030 2,273,459 5,469,674 25,310,099
- - - - - - -
- - - - - - -
6,678,359 234,662 9,793,915 860,030 2,273,459 5,469,674 25,310,099
12,729,181$ 476,817$ 12,603,292$ 1,167,601$ 2,965,124$ 6,037,882$ 35,979,897$
Continued
- 91 -
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 7,653,620$ 3,229,672$ 2,548,364$ 13,431,656$ 36,849,192$
Investments 4,984,764 989,930 - 5,974,694 11,198,627
Receivables
Property taxes (net of allowance)
Current year levy - - - - 23,230,183
Notes 55,500 96,649 - 152,149 5,547,278
Allowance - (96,649) - (96,649) (96,649)
Special assessments - - 649,243 649,243 649,243
Accrued interest 34,199 - - 34,199 41,714
Other 300 - - 300 192,960
Due from other governments - - - - 536,590
Due from other funds 2,194,991 10,070 - 2,205,061 4,306,048
Total Assets 14,923,374$ 4,229,672$ 3,197,607$ 22,350,653$ 82,455,186$
Liabilities
Vouchers payable 481,541$ 13,816$ -$ 495,357$ 805,913$
Accrued payroll - - - - 10,805
Other - - - - (391)
Due to other governments - - - - 4,525
Due to other funds 38,931 208 1,500,000 1,539,139 6,268,236
Unearned revenues - - 649,243 649,243 15,083,386
Total Liabilities 520,472 14,024 2,149,243 2,683,739 22,172,474
Fund Balances
Reserved for notes receivable 55,500 - - 55,500 5,450,629
Reseved for debt service - - - - 25,310,099
Unreserved
Capital projects 14,347,402 4,215,648 1,048,364 19,611,414 24,273,130
Undesignated - - - - 5,248,854
Total Fund Balances 14,402,902 4,215,648 1,048,364 19,666,914 60,282,712
Total Liabilities and Fund Balances 14,923,374$ 4,229,672$ 3,197,607$ 22,350,653$ 82,455,186$
Concluded
Liabilities and Fund Balances
- 92 -
Capital Projects
Assets
February 28, 2005
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Fund
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances
Emergenc
Moto Economic Telephon Neighborhoo
Fuel Ta Developmen Syste Librar Improvemen
Revenues
Taxes -$ 1,128,065$ 1,178,702$ -$ 20,000$
Special assessments - - - - -
Intergovernmenta 2,128,017 - - - -
Investment incom 33,481 46 90 114,288 -
Earnfare - - - - -
SSI reimbursemen - - - - -
Emergency assistance reimbursemen - - - - -
Miscellaneous - - - 38,859 20
Total Revenue 2,161,498 1,128,111 1,178,792 153,147 20,020
Expenditures
Current
General management and suppor - - - - -
Public safet - - 976,107 - -
Health and human resource developmen - - - - -
Recreation and cultural opportunities - - - 104,000 -
Housing and economic developmen - 721,172 - - -
Debt service
Principal - - - - -
Interes - - - - -
Fiscal agent fee - - - - -
Capital outlay 1,609,364 - - - -
Total Expenditures 1,609,364 721,172 976,107 104,000 -
Excess (Deficiency) of Revenues
Over (Under) Expenditures 552,134 406,939 202,685 49,147 20,020
Other Financing Sources (Uses)
Proceeds from sale of bond - - - - -
Escrow funding - - - - -
Transfers in (out)
General Fun (750,000) - - - -
CD Loan Fun - - - - -
Home Fun - - - - -
Town Fun - - - - -
General Assistance Fun - - - - -
General Obligation Debt Service Fun - - - - -
Neighborhood Improvemen - - - - -
Washington National Tax Increment Distric - - - - -
Central Business Tax Increment Distric - - - - -
Capital Improvements Fun - - - - (500,000)
Special Assesstment Capital Projec - - - - -
Sewer Fun - - - - -
Water Fun - - - - -
Maple Avenue Garage Fun - (650,000) - - -
Total Other Financing Sources (Uses (750,000) (650,000) - - (500,000)
Net Change in Fund Balances (197,866) (243,061) 202,685 49,147 (479,980)
Fund Balances -Beginning of Yea 2,597,643 1,162,794 2,297,620 2,212,792 502,478
Fund Balances - End of Year 2,399,777$ 919,733$ 2,500,305$ 2,261,939$ 22,498$
- 93 -
Year ended February 28, 2005
Special Revenue
Special
Mayor's Community Community Servic Employe Total
Special Developmen Development District Pension Cit
Housing HOME Block Gran Loa No. 4 Contribution Funds
-$ -$ -$ -$ 262,254$ 6,615,613$ 9,204,634$
- - - - - - -
- 1,117,494 2,718,716 822,850 - - 6,787,077
5,994 21,457 - 17,531 79 - 192,966
- - - - - - -
- - - - - - -
- - - - - - -
6,969 1,037 7,143 - - - 54,028
12,963 1,139,988 2,725,859 840,381 262,333 6,615,613 16,238,705
- - - - - - -
- - - - - 6,615,613 7,591,720
- - - - - - -
- - - - - - 104,000
10,780 56,434 2,725,859 29,701 245,000 - 3,788,946
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - 1,609,364
10,780 56,434 2,725,859 29,701 245,000 6,615,613 13,094,030
2,183 1,083,554 - 810,680 17,333 - 3,144,675
- - - - - - -
- - - - - - -
(30,900) - - - - - (780,900)
- 40,190 - - - - 40,190
- - - (40,190) - - (40,190)
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - (500,000)
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - (650,000)
(30,900) 40,190 - (40,190) - - (1,930,900)
(28,717) 1,123,744 - 770,490 17,333 - 1,213,775
1,722,496 1,423,036 12,799 1,517,225 57,768 - 13,506,651
1,693,779$ 2,546,780$ 12,799$ 2,287,715$ 75,101$ -$ 14,720,426$
Continued
- 94 -
Special Revenue
CITY OF EVANSTON, ILLINOIS
Nonmajor Governmental Fund
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances - Continued
Central
Special Business
Tota Genera Servic Tax
Town General Township Obligation District Incremen
Fund Assistance Funds Tota Deb No.5 District
Revenues
Taxes 297,939$ 803,482$ 1,101,421$ 10,306,055$ 7,914,889$ 448,977$ 6,425,495$
Special assessments - - - - - - -
Intergovernmenta 38,080 - 38,080 6,825,157 - - -
Investment incom 1,475 1,070 2,545 195,511 170,309 260 63,591
Earnfare - 3,385 3,385 3,385 - - -
SSI reimbursemen - 25,784 25,784 25,784 - - -
Emergency assistance reimbursemen - 74,239 74,239 74,239 - - -
Miscellaneous - - - 54,028 - - -
Total Revenue 337,494 907,960 1,245,454 17,484,159 8,085,198 449,237 6,489,086
Expenditures
Current
General management and suppor 192,086 1,037,830 1,229,916 1,229,916 259 42,920 354,646
Public safet - - - 7,591,720 - - -
Health and human resource developmen - - - - - - 200,000
Recreation and cultural opportunities - - - 104,000 - - -
Housing and economic developmen - - - 3,788,946 - - -
Debt service
Principal - - - - 6,665,000 240,000 280,000
Interes - - - - 3,414,884 196,153 370,415
Fiscal agent fee - - - - 191,314 - 35,608
Capital outlay - - - 1,609,364 - - -
Total Expenditures 192,086 1,037,830 1,229,916 14,323,946 10,271,457 479,073 1,240,669
Excess (Deficiency) of Revenues
Over (Under) Expenditures 145,408 (129,870) 15,538 3,160,213 (2,186,259) (29,836) 5,248,417
Other Financing Sources (Uses)
Proceeds from sale of bond - - - - 12,067,261 - -
Escrow funding - - - - (11,886,028) - -
Transfers in (out)
General Fun - - - (780,900) 175,000 - (300,000)
CD Loan Fun - - - 40,190 - - -
Home Fun - - - (40,190) - - -
Town Fun - 117,833 117,833 117,833 - - -
General Assistance Fun (117,833) - (117,833) (117,833) - - -
General Obligation Debt Service Fun - - - - - - -
Neighborhood Improvemen - - - - - - -
Washington National Tax Increment Distric - - - - - - (845,315)
Central Business Tax Increment Distric - - - - - - -
Capital Improvements Fun - - - (500,000) 354,791 - -
Special Assesstment Capital Projec - - - - 253,055 - -
Sewer Fun - - - - - - -
Water Fun - - - - 1,308,102 - -
Maple Avenue Garage Fun - - - (650,000) - - (4,000,000)
Total Other Financing Sources (Uses (117,833) 117,833 - (1,930,900) 2,272,181 - (5,145,315)
Net Change in Fund Balances 27,575 (12,037) 15,538 1,229,313 85,922 (29,836) 103,102
Fund Balances -Beginning of Yea 338,543 231,192 569,735 14,076,386 6,592,437 264,498 9,690,813
Fund Balances - End of Year 366,118$ 219,155$ 585,273$ 15,305,699$ 6,678,359$ 234,662$ 9,793,915$
- 95 -
Debt ServiceSpecial Revenue
Year ended February 28, 2005
Howar Washington Central
Southwes Hartre National Business Total
Tax Tax Tax Tax Nonmajo
Incremen Incremen Incremen Capital Incremen Special Governmenta
District District District Tota Improvement District Assessmen Tota Funds
634,240$ 1,123,713$ 1,111,050$ 17,658,364$ -$ -$ -$ -$ 27,964,419$
- - - - - - 365,554 365,554 365,554
- - - - 60,000 - - 60,000 6,885,157
9,953 51,315 18,067 313,495 245,551 7,372 55,467 308,390 817,396
- - - - - - - - 3,385
- - - - - - - - 25,784
- - - - - - - - 74,239
- - - - 224,547 967,300 - 1,191,847 1,245,875
644,193 1,175,028 1,129,117 17,971,859 530,098 974,672 421,021 1,925,791 37,381,809
- - 1,658 399,483 87,664 313,032 2,071 402,767 2,032,166
- - - - - - - - 7,591,720
- 200,000 200,000 600,000 - - - - 600,000
- - - - - - - - 104,000
- - - - - - - - 3,788,946
195,000 375,000 130,000 7,885,000 - - - - 7,885,000
72,150 307,620 666,314 5,027,536 - - - - 5,027,536
- - 132,214 359,136 - - - - 359,136
- - - - 7,277,698 68,486 - 7,346,184 8,955,548
267,150 882,620 1,130,186 14,271,155 7,365,362 381,518 2,071 7,748,951 36,344,052
377,043 292,408 (1,069) 3,700,704 (6,835,264) 593,154 418,950 (5,823,160) 1,037,757
- - - 12,067,261 13,656,474 - - 13,656,474 25,723,735
- - - (11,886,028) - - - - (11,886,028)
(20,600) (125,000) (133,900) (404,500) (57,500) - (30,900) (88,400) (1,273,800)
- - - - - - - - 40,190
- - - - - - - - (40,190)
- - - - - - - - 117,833
- - - - - - - - (117,833)
- - - - (354,791) - (253,055) (607,846) (607,846)
- - - - 500,000 - - 500,000 500,000
- - - (845,315) - - - - (845,315)
- - 845,315 845,315 - - - - 845,315
- - - 354,791 - - - - (145,209)
- - - 253,055 - - - - 253,055
- - - - (4,000,000) - - (4,000,000) (4,000,000)
- - - 1,308,102 (4,000,000) - - (4,000,000) (2,691,898)
- - - (4,000,000) - - - - (4,650,000)
(20,600) (125,000) 711,415 (2,307,319) 5,744,183 - (283,955) 5,460,228 1,222,009
356,443 167,408 710,346 1,393,385 (1,091,081) 593,154 134,995 (362,932) 2,259,766
503,587 2,106,051 4,759,328 23,916,714 15,493,983 3,622,494 913,369 20,029,846 58,022,946
860,030$ 2,273,459$ 5,469,674$ 25,310,099$ 14,402,902$ 4,215,648$ 1,048,364$ 19,666,914$ 60,282,712$
Concluded
- 96 -
Debt Service 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 15,783,600$ 15,783,600$ -$
Prior year levy 25,000 (145,021) (170,021)
Total Property Taxes 15,808,600 15,638,579 (170,021)
Personal Property Replacement Tax 392,500 634,907 242,407
Other Taxes
Auto rental 34,000 32,543 (1,457)
Sales - home rule 5,500,000 5,594,134 94,134
Utility 8,200,000 8,397,773 197,773
State use 660,000 759,931 99,931
Athletic contest 500,000 505,983 5,983
Foreign fire insurance 50,000 - (50,000)
Cigarette 300,000 228,473 (71,527)
Evanston motor fuel 320,000 272,029 (47,971)
Real estate transfer 3,500,000 4,245,478 745,478
Poured liquor 1,425,000 1,656,076 231,076
Amusement - 5,260 5,260
Parking 1,500,000 1,597,278 97,278
Total Other Taxes 21,989,000 23,294,958 1,305,958
Total Taxes 38,190,100 39,568,444 1,378,344
Continued
Year ended February 28, 2005
- 97 -
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 2,000,000$ 2,219,131$ 219,131$
Business licenses 90,000 82,099 (7,901)
Long-term care licenses 112,400 119,100 6,700
Rooming house licenses 170,000 157,956 (12,044)
Pet licenses 40,000 41,324 1,324
Bicycle licenses 100 5 (95)
Farmers' market licenses 27,700 25,500 (2,200)
Contractors' licenses 80,000 75,375 (4,625)
Other licenses - 960 960
Building permits 1,900,000 1,908,112 8,112
Plumbing permits 150,000 138,025 (11,975)
Electrical permits 160,000 166,985 6,985
Elevator permits 55,000 18,990 (36,010)
Signs and awning permits 10,000 12,449 2,449
Combustion equipment permits 150,000 246,072 96,072
Commercial driveway permits 500 120 (380)
Other permits 220,000 360,953 140,953
Liquor licenses 275,000 305,332 30,332
Fire alarm permit fees - (1,035) (1,035)
Cable franchise fee 525,000 603,122 78,122
Nicor franchise fee 50,000 66,046 16,046
Northwestern/Centel easement 40,000 47,000 7,000
Residents' parking permits 130,000 123,345 (6,655)
Visitor's parking permits - 14,107 14,107
Sign license fee 32,000 31,534 (466)
Alarm panel franchise fee 20,000 10,800 (9,200)
Plat approval and sign appeal fees 1,000 - (1,000)
Total Licenses and Permits 6,238,700 6,773,407 534,707
Continued
- 98 -
Year ended February 28, 2005
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 -$ 319,609$ 319,609$
Preventive health block grant 56,600 69,397 12,797
Fire department training grant 600 2,456 1,856
Illinois state health department
basic services grant 71,000 47,229 (23,771)
Bio - terrorrism grant 90,000 - (90,000)
Family planning grant 54,500 52,626 (1,874)
Hearing and vision grant 6,400 100 (6,300)
ICJIA grant - community service 15,000 - (15,000)
ICJIA grant - victim 60,000 - (60,000)
Other federal aid - (42,439) (42,439)
Violent crime victim assistance grant 20,000 25,000 5,000
Federal police grant 105,000 90,325 (14,675)
Civil defense grants 20,000 19,091 (909)
Retailer and service occupation tax 8,200,000 8,389,985 189,985
State income tax 4,300,000 4,899,124 599,124
State highway maintenance 100,000 133,109 33,109
District 65 dental - 1,500 1,500
Commission on Aging grant 19,000 30,775 11,775
Other state / county grants 400,000 261,574 (138,426)
Police training grant 8,000 - (8,000)
Dental sealants grant - 2,819 2,819
Lead grant 4,000 1,305 (2,695)
Federal grant / Aid - 3,965 3,965
Illinois Tobacco Free Community 25,000 12,285 (12,715)
Summer food inspections - 400 400
Kid care agreement 10,500 9,550 (950)
HUD emergency shelter grant 80,000 95,148 15,148
Leadbase paint control grant 373,000 29,163 (343,837)
Genetic education grant 10,200 17,850 7,650
Tanning parlor inspection - 150 150
Prostate cancer awareness - 7,028 7,028
Family case management grant 266,300 211,870 (54,430)
Infant immunization grant - 2,500 2,500
Teen parent service program 15,000 34,236 19,236
Vector prevention grant - 5,000 5,000
Access to care - 75 75
Total Intergovernmental - Revenue
from Other Agencies 14,310,100 14,732,805 422,705
Continued
Year ended February 28, 2005
- 99 -
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 4,103,000$ 3,727,244$ (375,756)$
Recreation - charges - 50 50
Recreation - unreconciled - 3,545 3,545
Total Recreation 4,103,000 3,730,839 (372,161)
Library
Film rentals 60,000 57,612 (2,388)
Books, lost and paid 21,000 22,879 1,879
Reserves 5,000 6,610 1,610
Miscellaneous revenues 3,500 2,517 (983)
Rental books 8,600 7,986 (614)
Non-resident cards 3,000 4,190 1,190
Copy machine charges 26,000 27,081 1,081
Library meeting room rentals 8,700 7,400 (1,300)
Rental income 26,100 26,100 -
State library per capita grant 83,500 92,762 9,262
CD-ROM software rentals 2,000 1,954 (46)
Total Library 247,400 257,091 9,691
Continued
- 100 -
Year ended February 28, 2005
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 2,000$ 709 $ (1,291)
Dental clinic fees & check up fees 90,000 75,973 (14,027)
Venereal disease program - Skokie 2,250 1,500 (750)
Birth and death records 145,000 138,104 (6,896)
TB nursing services 12,000 12,000 -
Flue and pneumonia program - 8,115 8,115
Health clinic fees - immunizations 5,000 3,178 (1,822)
Health clinic fees - sexually transmitted disease 1,200 - (1,200)
Health clinic fees - TB 3,200 3,203 3
Health clinic fees - lab 16,200 8,182 (8,018)
Health clinic fees - food establishment 145,000 155,394 10,394
Health clinic fees - well child 250 - (250)
Health clinic fees - school physicals 2,000 1,510 (490)
S.T.D.O. & S.T.D.E. - 7,795 7,795
Dental check up - 8,450 8,450
Emergency dental exam - 155 155
X-Ray - 35 35
Amalgam filling - 345 345
Resin filling - 4,210 4,210
Sedative filling - 50 50
Extraction - 255 255
Pulpotomy - 985 985
Sealant office visit - 869 869
Additional sealant - 35 35
Temporary license fee 3,300 3,211 (89)
Food delivery vehicle 6,500 4,680 (1,820)
Scavenger truck - 2,340 2,340
Beverage snack vending machine 33,000 38,501 5,501
Homeless health clinic - 132 132
Tobacco license 12,000 13,408 1,408
Funeral director license 4,500 6,960 2,460
Temporary funeral direct license - 6,359 6,359
Ambulance services 440,000 520,384 80,384
Towing charges - (9,555) (9,555)
Weights and measures examination 1,000 1,080 80
Senior taxi coupon sales 68,000 80,289 12,289
Recycling - material sales - 515 515
Background check daycare providers - (440) (440)
Curb / sidewalk replacement fee - 1,656 1,656
Police report fees 19,500 17,816 (1,684)
Continued
Year ended February 28, 2005
- 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 - Continued
Other Service Charges - Continued
Fire report fees 100$ 3,111$ 3,011$
Fire cost recovery charges 5,000 1,266 (3,734)
Fire building inspection - 300 300
Other service charges 5,000 2,110 (2,890)
Condo conversion application 52,000 95,250 43,250
Zoning fees 40,000 56,791 16,791
Alarm panel subscription fees 100,000 33,895 (66,105)
Skokie animal boarding fees 1,000 320 (680)
Passport execution fees 13,000 5,948 (7,052)
Sanitation classes and charges 25,000 77,978 52,978
Wood recycling - 12,995 12,995
Plan review - 3,202 3,202
Recycling service charge and penalty 628,000 653,472 25,472
Total Other Service Charges 1,881,000 2,065,026 184,026
Total Charges for Services 6,231,400 6,052,956 (178,444)
Fines
Ticket fines 3,500,000 3,146,566 (353,434)
Regular fines 175,000 287,212 112,212
Housing code violations 1,000 2,768 1,768
Building code violations 5,000 - (5,000)
Permit penalty fees 5,000 23,980 18,980
Animal ordinance penalties 1,500 - (1,500)
False alarm panel fines - fire 55,000 58,290 3,290
False alarm panel fines - police 75,000 100,510 25,510
Administrative adjudication 100,000 94,867 (5,133)
Library fines 165,000 170,662 5,662
Boot release fees 85,000 114,250 29,250
Total Fines 4,167,500 3,999,105 (168,395)
Continued
- 102 -
Year ended February 28, 2005
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Original
and Final
Budget Actual Variance
Investment Income 200,000$ 192,461$ (7,539)$
Miscellaneous
Charges to Other Funds
Charges to Water for
administrative expenses 1,080,600 1,080,600 -
Economic Development 365,900 365,900 -
Maple Garage 39,500 39,500 -
Emergency Telephone System 139,400 140,200 800
Community Development Block Grant 986,400 976,962 (9,438)
HOME 38,400 38,400 -
Sewer 614,700 614,700 -
Motor Vehicle Parking System 960,100 959,900 (200)
Fleet Services 123,200 123,200 -
Total Charges to Other Funds 4,348,200 4,339,362 (8,838)
Miscellaneous
Other Revenues
Payments in lieu of taxes 27,000 26,553 (447)
Sales and rentals of property 46,000 53,605 7,605
Compensation for damage to
City property 40,000 45,489 5,489
Parking permits - Ryan Field 12,000 11,560 (440)
Miscellaneous 150,000 3,625,698 3,475,698
Total Other Revenues 275,000 3,762,905 3,487,905
Total Miscellaneous 4,623,200 8,102,267 3,479,067
Total Revenues 73,961,000$ 79,421,445$ 5,460,445$
Concluded
Year ended February 28, 2005
- 103 -
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 283,000$ 270,213$ 12,787$
City Manager 2,843,300 2,589,243 254,057
City Clerk 205,400 202,872 2,528
Law Department 662,800 579,788 83,012
Human Resources 1,170,900 1,311,345 (140,445)
Finance 1,889,000 2,083,773 (194,773)
Facilities management 2,202,300 2,371,895 (169,595)
Miscellaneous operating requirements 2,371,600 2,933,726 (562,126)
Total General Management and Support 11,628,300 12,342,855 (714,555)
Public Safety
Emergency services and disaster assistance 71,000 45,802 25,198
Police 17,658,300 18,076,386 (418,086)
Fire 10,085,500 10,581,956 (496,456)
Total Public Safety 27,814,800 28,704,144 (889,344)
Public Works
Municipal service center 192,500 200,689 (8,189)
Public Works Director 268,000 250,568 17,432
City Engineer 1,097,700 1,207,098 (109,398)
Traffic Engineer 2,278,200 2,507,862 (229,662)
Streets 3,334,500 3,501,528 (167,028)
Sanitation 4,154,100 4,242,165 (88,065)
Total Public Works 11,325,000 11,909,910 (584,910)
Continued
Year ended February 28, 2005
- 104 -
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 357,000$ 283,307$ 73,693$
Health Department 2,844,300 2,736,821 107,479
Emergency assistance services 267,600 300,094 (32,494)
Mental health and community purchased services 1,024,200 1,045,149 (20,949)
Commission on Aging 96,600 113,218 (16,618)
Subsidized Taxicab Program 212,400 240,233 (27,833)
Human Relations 542,700 477,982 64,718
Total Health and Human Resource Development 5,344,800 5,196,804 147,996
Recreation and Cultural Opportunities
Library 4,057,900 4,359,186 (301,286)
Recreation 6,556,500 6,647,043 (90,543)
Parks and forestry 3,058,300 3,235,385 (177,085)
Ecology Center 381,700 400,767 (19,067)
Arts Council 888,600 742,295 146,305
Total Recreation and Cultural Opportunities 14,943,000 15,384,676 (441,676)
Housing and Economic Development
Community Development administration 195,900 237,720 (41,820)
Planning and zoning 780,700 803,273 (22,573)
Housing rehabilitation and
property standards 788,300 772,077 16,223
Building code compliance 1,022,500 1,114,473 (91,973)
Total Housing and Economic Development 2,787,400 2,927,543 (140,143)
Pensions
Illinois Municipal Retirement Pension 4,006,700 1,371,992 2,634,708
Total Expenditures 77,850,000$ 77,837,924$ 12,076$
Concluded
Year ended February 28, 2005
- 105 -
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$ 2,128,017$ 128,017$
Interest 55,000 33,481 (21,519)
Total Revenues 2,055,000 2,161,498 106,498
Expenditures
Public Works 2,100,000 1,609,364 490,636
Excess (Deficiency) of Revenues
over (under) Expenditures (45,000) 552,134 597,134
Other Financing (Uses)
Operating transfers (out)
General Fund (750,000) (750,000) -
Deficiency of Revenues under
Expenditures and Other Financing Uses (795,000)$ (197,866) (597,134)$
Fund Balances
Beginning of year 2,597,643
End of yea 2,399,777$
Year ended February 28, 2005
- 106 -
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 675,000$ 816,600$ 141,600$
Amusement taxes 300,000 311,465 11,465
Interest 2,000 46 (1,954)
Total Revenue 977,000 1,128,111 151,111
Expenditures
Housing and economic development 749,000 721,172 27,828
Excess of Revenues
over Expenditures 228,000 406,939 178,939
Other Financing Sources (Uses)
Operating transfers in (out)
Maple Avenue Garage Fund (650,000) (650,000) -
Deficiency of Revenues under
Expenditures and Other Financing Uses (422,000)$ (243,061) (178,939)$
Fund Balances
Beginning of year 1,162,794
End of yea 919,733$
Year ended February 28, 2005
- 107 -
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 1,277,200$ 1,178,702$ (98,498)$
Interest 9,000 90 (8,910)
Total Revenue 1,286,200 1,178,792 (107,408)
Expenditures
Public Safety 1,871,300 976,107 895,193
Excess (Deficiency) of Revenues
over (under) Expenditures (585,100) 202,685 787,785
Other Financing (Uses)
Operating transfers (out)
General Obligation Debt Service Fund (212,000) - (212,000)
Excess (Deficiency) of Revenues over (under)
Expenditures and Other Financing Uses (797,100)$ 202,685 575,785$
Fund Balance
Beginning of year 2,297,620
End of yea 2,500,305$
Year ended February 28, 2005
- 108 -
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 -$ 5,994$ 5,994$
Miscellaneous 7,000 6,969 (31)
Total Revenue 7,000 12,963 5,963
Expenditures
Housing and economic development 239,100 10,780 228,320
Excess (Deficiency) of Revenues
over (under) Expenditures (232,100) 2,183 234,283
Other Financing (Uses)
Operating transfers (out)
General Fund (30,900) (30,900) -
Excess (Deficiency) of Revenues over (under)
Expenditures and Other Financing Uses (263,000)$ (28,717) 234,283$
Fund Balance
Beginning of year 1,722,496
End of yea 1,693,779$
Year ended February 28, 2005
- 109 -
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 2,549,932$ 2,718,716$ 168,784$
Miscellaneous - 7,143 7,143
Total Revenues 2,549,932 2,725,859 175,927
Expenditures
Housing and economic development 2,549,932 2,725,859 (175,927)
(Deficiency) of Revenues
(under) Expenditures -$ - -$
Fund Balance
Beginning of year 12,799
End of yea 12,799$
Year ended February 28, 2005
- 110 -
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 341,748$ 340,567$ 1,181$
Fair Housing Assistance 80,984 78,984 2,000
Total Administration/Planning 422,732 419,551 3,181
Economic Development
Ben & Jerry's 45,000 30,000 15,000
Neighborhood Façade Program 15,000 45,000 (30,000)
MBE/Small Business Assistance 96,268 96,264 4
Total Economic Development 156,268 171,264 (14,996)
Housing
Housing Rehabilitation Administration 230,000 229,992 8
Adaptive Devices 15,000 7,588 7,412
Community Development Administration 100,000 99,996 4
Minor Repairs/Painting Assistance - E.N.A.W. 160,000 160,000 -
Demolition/Vacant Lot Cleanup Program - 5,604 (5,604)
Civic Center Boiler 15,000 421 14,579
Housing Code Compliance 240,000 240,000 -
Total Housing 760,000 743,601 16,399
Continued
Year ended February 28, 2005
- 111 -
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
Target Area Tree 20,000$ 19,805$ 195$
Accessible Curb Ramp Program 80,000 12,708 67,292
Street Light Upgrade - 94,229 (94,229)
Curb/Sidewalk Replacement 65,000 80,498 (15,498)
Fleetwood Jourdain - 155,987 (155,987)
Alley Paving - East Clyde - 85,000 (85,000)
South Evanston Neighborhood Security - 3,000 (3,000)
Black American Heritage and Tech Center - 17,619 (17,619)
Alley Paving Program 110,527 123,945 (13,418)
Howard St. Enhancement (Outpost) - 12,796 (12,796)
Masin Park 150,000 51,446 98,554
Beck Park Restoration - 26,330 (26,330)
Handyman Assistance 15,000 9,822 5,178
Twiggs Park - 12,494 (12,494)
School District 65-Oakton Playground 60,000 60,000 -
Toddler Town Day Care 10,000 10,000 -
Special Assesstments / Aleey Paving - 49,314 (49,314)
Reba Park 45,000 44,550 450
Fleetwood Jourdain-Community Center 110,155 - 110,155
Toddler Nursery-Infant Welfare 22,500 22,500 -
Video Monitor-Police 21,000 - 21,000
Child Care Center Building 20,000 20,000 -
Evanston Day Nursery 30,000 30,000 -
Family Focus Center Improvements 47,500 47,500 -
Graffiti Removal Program 29,845 29,364 481
Total Neighborhood Revitalization 836,527 1,018,907 (182,380)
Continued
- 112 -
Year ended February 28, 2005
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 4,975$ 4,975$ -$
Senior Crime Prevention 22,882 21,013 1,869
Girls Scouts Soy Latina 4,975 4,975 -
Evanston Community Defender 59,043 59,043 -
Evanston Legal Services CCLAF 9,947 9,947 -
Youth Job Center of Evanston 79,586 79,586 -
Summer Youth 59,690 59,690 -
EEAC Job Counselor 2,488 2,488 -
YWCA Shelter Project 35,813 35,813 -
Connections for Homeless -Entry Point 11,939 11,939 -
Melas at Home 9,947 9,947 -
North Shore Senior Center 24,870 24,870 -
First Base Homeless 4,975 4,975 -
Interfaith Predatory 4,975 4,975 -
Open Studio Art 5,968 5,968 -
Second Baptist-Yan 12,435 12,435 -
Interfaith Housing Program 14,922 14,922 -
Metropolitan Family Service 4,975 4,975 -
Total Public Services 374,405 372,536 1,869
Total Expenditures 2,549,932$ 2,725,859$ (175,927)$
Concluded
Year ended February 28, 2005
- 113 -
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 - 5,716 5,716
Interest - 79 79
Total Revenues 255,000 260,795 5,795
Expenditures
Housing and economic development 245,000 245,000 -
Excess of Revenues
over Expenditures 10,000$ 15,795 5,795$
Fund Balance
Beginning of year 200,463
End of yea 216,258$
Year ended February 28, 2005
- 114 -
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 325,000$ 297,939$ (27,061)$
Interest income 4,200 1,475 (2,725)
Replacement tax 25,000 38,080 13,080
Total Revenues 354,200 337,494 (16,706)
Expenditures
General management and support 210,247 192,086 18,161
Excess of Revenues over Expenditures 143,953 145,408 1,455
Other Financing (Uses)
Operating transfers (out)
General Assistance Fund (115,000) (117,833) (2,833)
Excess of Revenues over
Expenditures and Other
Financing Uses 28,953$ 27,575 (1,378)$
Fund Balance
Beginning of year 338,543
End of yea 366,118$
Year ended February 28, 2005
- 115 -
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 865,000$ 803,482$ (61,518)$
Interest income 4,000 1,070 (2,930)
Earnfare 2,500 3,385 885
SSI reimbursement (20,000) 25,784 45,784
Emergency assistance reimbursement 110,000 74,239 (35,761)
Total Revenues 961,500 907,960 (53,540)
Expenditures
General management and support 1,103,599 1,037,830 (65,769)
(Deficiency) of Revenues
(under) Expenditures (142,099) (129,870) 12,229
Other Financing Sources
Transfers in
Town Fund 115,000 117,833 2,833
Excess (Deficiency) of Revenues and
Other Financing Sources over (under)
Expenditures (27,099)$ (12,037) 15,062$
Fund Balance
Beginning of year 231,192
End of yea 219,155$
Year ended February 28, 2005
- 116 -
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 8,447,258$ 8,269,116$ 440,854$ 440,854$ 8,307,128$ 5,036,598$
Prior year levy, net - 407,913 - 18,486 - 2,386
Sales tax - - - - 250,000 250,000
Investment income 90,000 170,309 200 261 50,000 63,591
Miscellaneous - - - - - -
Total Revenues 8,537,258 8,847,338 441,054 459,601 8,607,128 5,352,575
Expenditures
General management
and support - 259 - 42,920 - 354,646
Health and human resources
development - - - - - 200,000
Debt Service
Principal 6,330,000 6,666,485 145,000 255,000 295,000 295,000
Interest 4,040,071 3,483,252 7,686 183,749 394,500 356,415
Fiscal agent fees 125,000 191,314 - - 40,000 35,608
Total Expenditures 10,495,071 10,341,310 152,686 481,669 729,500 1,241,669
Excess (Deficiency) of Revenues
over (under) Expenditures (1,957,813) (1,493,972) 288,368 (22,068) 7,877,628 4,110,906
Other Financing Sources (Uses)
Operating transfers in (out)
Bond Proceeds - 12,067,261 - - - -
Escrow Funding - (11,886,028) - - - -
General 126,840 175,000 - - (300,000) (300,000)
Special Assessment
Capital Projects 253,055 253,055 - - - -
Water Fund - 1,308,102 - - - -
Washington National TIF DS - - - - (845,315) (845,315)
Maple Avenue Garage - - - - (4,117,700) (4,000,000)
Capital Improvement - 354,791 - - - -
Downtown TIF DS - - - - - -
379,895 2,272,181 - - (5,263,015) (5,145,315)
Excess (Deficiency) of Revenues
and Other Financing Sources
over (under) Expenditures
and Other Financing Uses (1,577,918)$ 778,209 288,368$ (22,068) 2,614,613$ (1,034,409)
Fund Balances
Beginning of year 879,709 60,137 7,893,260
End of yea 1,657,918$ 38,069$ 6,858,851$
Increment DistricObligation Debt No. 5
- 117 -
Business Tax
Year ended February 28, 2005
Special Central
General Service District
Original Original Original Original
and Final and Final and Final and Final
Budget Actual Budget Actual Budget Actual Budget Actual
583,995$ 577,515$ 1,168,810$ 1,199,891$ 981,199$ 999,838$ 19,929,244$ 16,523,812$
- 50,377 - - - 14,915 - 494,077
- - - - 75,000 75,000 325,000 325,000
10,000 9,953 50,000 51,315 10,000 18,067 210,200 313,496
- - - - - - - -
593,995 637,845 1,218,810 1,251,206 1,066,199 1,107,820 20,464,444 17,656,385
- - - - 41,916 1,658 41,916 399,483
600,000 - - 200,000 - 200,000 600,000 600,000
225,000 225,000 490,000 395,000 140,000 140,000 7,625,000 7,976,485
58,150 58,500 385,713 288,620 1,280,740 700,739 6,166,860 5,071,275
- - - - 74,725 132,214 239,725 359,136
883,150 283,500 875,713 883,620 1,537,381 1,174,611 14,673,501 14,406,379
(289,155) 354,345 343,097 367,586 (471,182) (66,791) 5,790,943 3,250,006
- - - - - - - 12,067,261
- - - - - - - (11,886,028)
(20,600) (20,600) (125,000) (125,000) (133,900) (133,900) (452,660) (404,500)
- - - - - - 253,055 253,055
- - - - - - - 1,308,102
- - - - - - (845,315) (845,315)
- - - - - - (4,117,700) (4,000,000)
- - - - - - - 354,791
- - - - 845,315 845,315 845,315 845,315
(20,600) (20,600) (125,000) (125,000) 711,415 711,415 (4,317,305) (2,307,319)
(309,755)$ 333,745 218,097$ 242,586 240,233$ 644,624 1,473,638$ 942,687
(27,159) 839,027 3,217,596 12,862,570
306,586$ 1,081,613$ 3,862,220$ 13,805,257$
Increment Distric Increment DistricIncrement Distric Totals
- 118 -
Washingto
Southwest Ta National TaxHoward Hartrey Ta
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PROPRIETARY FUND TYPES
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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 136,795$ -$ -$ -$ 136,795$
Receivables
Accounts - billed 1,068,680 - - - 1,068,680
Accounts - unbilled 919,650 - - - 919,650
Due from other funds 320,607 - - (897) 319,710
Intrafund receivable 639,056 170,066 47 (809,169) -
Inventory 479,464 - - - 479,464
Total Current Assets 3,564,252 170,066 47 (810,066) 2,924,299
Noncurrent Assets
Restricted cash and equivalents and investments 568,356 1,452,586 2,969,092 5,860,181 10,850,215
Total Restricted Assets 568,356 1,452,586 2,969,092 5,860,181 10,850,215
Capital Assets
Land 555,415 - - - 555,415
Construction in progress - - - 1,996,767 1,996,767
Capital assets being depreciated 54,465,590 - - - 54,465,590
Less accumulated depreciation (12,905,428) - - - (12,905,428)
Total Capital Assets 42,115,577 - - 1,996,767 44,112,344
Total Assets 46,248,185$ 1,622,652$ 2,969,139$ 7,046,882$ 57,886,858$
February 28, 2005
Restricted Accounts
Assets
- 119 -
Operation and Bond Depreciation
Maintenance and Bond Improvement
Account Interest Reserve and Extension Totals
Current Liabilities (Payable from Current Assets)
Vouchers payable 180,327$ -$ -$ 179,992$ 360,319$
Accrued payroll 48,816 - - - 48,816
Due to other funds 1,308,102 - - - 1,308,102
Compensated absences payable 311,322 - - - 311,322
Total Current Liabilities 1,848,567 - - 179,992 2,028,559
Current Liabilities (Payable from Restricted Assets)
Vouchers payable - - - 10,629 10,629
Interest payable - 29,559 - - 29,559
Revenue bonds payable - 144,167 - - 144,167
Total Restricted Liabilities - 173,726 - 10,629 184,355
Long-Term Liabilities
Revenue bonds payable 4,430,833 - - - 4,430,833
Unamortized bond discount on bonds payable 16,662 - - - 16,662
Total Long-Term Liabilities 4,447,495 - - - 4,447,495
Total Liabilities 6,296,062 173,726 - 190,621 6,660,409
Net Assets
Restricted for debt service - 1,448,926 2,969,139 6,856,261 11,274,326
Unrestricted 39,952,123 - - - 39,952,123
Total Net Assets 39,952,123 1,448,926 2,969,139 6,856,261 51,226,449
Total Liabilities and Net Assets 46,248,185$ 1,622,652$ 2,969,139$ 7,046,882$ 57,886,858$
Restricted Accounts
Liabilities and Net Assets
- 120 -
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$ 2,993,600$ 4,159,800$
Transfer from Capital Improvement -$ -$ 4,000,000 4,000,000
Investment earnings 15,443 34,406 52,561 102,410
Total Increases 1,035,843 180,206 7,046,161 8,262,210
Decreases
Bond principal 815,000 - - 815,000
Bond interest 201,705 - - 201,705
Purchase of capital assets - - 1,669,122 1,669,122
Transfer to Insurance Fund - - 4,000,000 4,000,000
Payment of expense 2,850 - 3,279 6,129
Intrafund transfers to operation
and maintenance - 145,800 1,308,102 1,453,902
Total Decreases 1,019,555 145,800 6,980,503 8,145,858
Net Increase 16,288 34,406 65,658 116,352
Net Assets
Beginning of year 1,432,638 2,934,733 6,790,603 11,157,974
End of yea 1,448,926$ 2,969,139$ 6,856,261$ 11,274,326$
Year ended February 28, 2005
- 121 -
CITY OF EVANSTON, ILLINOIS
Water Fund - Operation and Maintenance Account
Schedule of Revenues, Expenses, and Changes in Unreserved Net Assets - Budget and Actual
(With Comparative Totals for the Year Ended February 29, 2004)
Prior Year
Budget Actual Actual
Operating Revenues
Charges for services 13,199,800$ 12,739,153$ 12,992,143$
Miscellaneous 214,100 447,692 486,236
Total Operating Revenues 13,413,900 13,186,845 13,478,379
Operating Expenses Excluding Depreciation
Administration 636,500 698,958 765,262
Operations
Pumping 1,868,800 1,745,290 1,699,664
Filtration 1,954,700 1,665,264 1,763,407
Meter maintenance 287,800 294,986 279,882
Distribution 1,154,100 1,110,097 1,098,151
Other 837,900 874,507 935,192
Total Operating Expenses Excluding Depreciation 6,739,800 6,389,102 6,541,558
Operating Income Before Depreciation 6,674,100 6,797,743 6,936,821
Depreciation - 1,296,208 1,287,466
Operating Income 6,674,100 5,501,535 5,649,355
Nonoperating Revenues (Expenses)
Investment income 65,000 49,387 39,005
Interest expense - (201,705) (231,023)
Bond expenses and amortization of discount - (3,654) (5,968)
Net book value of capital assets disposed - (2,643) (6,205)
Total Nonoperating Revenues (Expenses) 65,000 (158,615) (204,191)
Income Before Transfers 6,739,100 5,342,920 5,445,164
Transfers In (Out)
Transfer In - 1,308,102 618,336
Transfer Out (2,615,200) (3,923,302) (3,265,106)
(2,615,200) (2,615,200) (2,646,770)
Net Income 4,123,900$ 2,727,720 2,798,394
Other Changes in Unreserved Net Assets
lntrafund transfers in (out) - net assets -
reserved - restricted accounts (1,328,173) (1,943,047)
Increase in Unreserved Net Assets 1,399,547 855,347
Unreserved Net Assets
Beginning of yea 38,552,576 37,697,229
End of yea 39,952,123$ 38,552,576$
Year ended February 28, 2005
- 122 -
CITY OF EVANSTON, ILLINOIS
Water Fund - Operation and Maintenance Account
Schedule of Operating Revenues - Budget and Actual
(With Comparative Totals for the Year Ended February 29, 2004)
Prior Year
Budget Actual Actual
Charges for Services, Net
Water Sales
Evanston 6,588,000$ 6,559,026$ 6,665,158$
Skokie 3,183,600 2,802,720 2,959,732
Northwest Water Commission 3,428,200 3,377,407 3,367,253
Total Charges for Services 13,199,800 12,739,153 12,992,143
Miscellaneous
Fees and outside work 45,000 85,788 73,740
Fees, merchandise and other 169,100 361,904 412,496
Total Miscellaneous 214,100 447,692 486,236
Total Operating Revenues 13,413,900$ 13,186,845$ 13,478,379$
Year ended February 28, 2005
- 123 -
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 deparments. 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
Schedule of Net Assets
Fleet Services Insurance Totals
Current Assets
Cash and equivalents 36,705$ 185,772$ 222,477$
Investment - 7,043,522 7,043,522
Receivables - other 18,386 9,606 27,992
Due from other funds 244 - 244
Inventory 254,434 - 254,434
Total Unrestricted Current Assets 309,769 7,238,900 7,548,669
Capital Assets
Cost 18,209,749 - 18,209,749
Accumulated depreciation (12,049,944) - (12,049,944)
Total Capital Assets 6,159,805 - 6,159,805
Total Assets 6,469,574 7,238,900 13,708,474
Liabilities and Fund Equity
Current Liabilities
Vouchers payable 185,237 - 185,237
Accrued payroll 22,085 486 22,571
Interest payable 5,713 - 5,713
Compensated absences payable 100,019 - 100,019
General obligation bonds payable 450,000 - 450,000
Claims payable - 9,731,084 9,731,084
Due to other government - 24,739 24,739
Due to other funds 4,799 2,135 6,934
Total Current Liabilities 767,853 9,758,444 10,526,297
Long-Term Liabilities
Claims payable - 2,965,700 2,965,700
Total Liabilities 767,853 12,724,144 13,491,997
Net Assets (Deficit)
Invested in capital assets, net of
related debt 5,709,805 - 5,709,805
Unrestricted (8,084) (5,485,244) (5,493,328)
Total net assets (deficit) 5,701,721$ (5,485,244)$ 216,477$
February 28, 2005
Assets
- 124 -
CITY OF EVANSTON, ILLINOIS
Internal Service Funds
Combining Schedule of Revenues, Expenses, and Changes in Net Assets
Fleet Services Insurance Totals
Operating Revenues
Charges for Services
General Fund 4,047,100$ 1,900,000$ 5,947,100$
Sewer Fund 235,800 - 235,800
Water Fund 301,900 - 301,900
Motor Vehicle Parking System Fund 99,200 - 99,200
Miscellaneous 93,440 306 93,746
Total Operating Revenues 4,777,440 1,900,306 6,677,746
Operating Expenses
General support 456,861 - 456,861
Major maintenance 2,342,266 - 2,342,266
Vehicle body maintenance 294,582 - 294,582
General liability claims - (9,489,979) (9,489,979)
Workers compensation claims - 2,030,038 2,030,038
Other 192,602 12,737 205,339
Total Operating Expenses 3,286,311 (7,447,204) (4,160,893)
Operating Income (Loss) Before Depreciation 1,491,129 9,347,510 10,838,639
Depreciation 1,455,720 - 1,455,720
Operating Income (Loss) 35,409 9,347,510 9,382,919
Nonoperating Revenues (Expenses)
Investment income 38 15,680 15,718
Other nonoperating revenues 5,695 - 5,695
Interest expense (58,876) - (58,876)
Amortization of bond discount (1,186) - (1,186)
Gain (Loss) on disposition of assets 59,973 - 59,973
Total Nonoperating Revenues (Expenses) 5,644 15,680 21,324
Income (Loss) before Operating Transfers 41,053 9,363,190 9,404,243
Transfers In (Out)
Water Fund - 4,000,000 4,000,000
Sewer Fund - 4,000,000 4,000,000
Parking Fund 350,000 - 350,000
Change in Net Assets 391,053 17,363,190 17,754,243
Total Net Assets (Deficit) - Beginning of Year 5,310,668 (22,848,434) (17,537,766)
Total Net Assets (Deficit)- End of Year 5,701,721$ (5,485,244)$ 216,477$
Year ended February 28, 2005
- 125 -
CITY OF EVANSTON, ILLINOIS
Internal Service Funds
Combining Schedule of Cash Flows
Fleet Services Insurance Totals
Cash Flows from Operating Activities
Receipts from customers and users 4,777,313$ 1,890,700$ 6,668,013$
Receipts from interfund services provided (244) 2,090,760 2,090,516
Payments to suppliers (2,702,032) (6,123,468) (8,825,500)
Payments to employees (453,428) (2,029,552) (2,482,980)
Payments for interfund services provided (39,767) 1,064 (38,703)
Net Cash Provided By (Used For) Operating Activities 1,581,842 (4,170,496) (2,588,654)
Cash Flows from Noncapital Financing Activities
Operating transfers
Water Fund - 4,000,000 4,000,000
Sewer Fund - 4,000,000 4,000,000
Parking Fund 350,000 - 350,000
Net Cash Provided by Noncapital Financing Activities 350,000 8,000,000 8,350,000
Cash Flows from Capital and Related Financing Activities
Sale of capital assets 281,858 - 281,858
Acquisition and construction of capital assets (1,958,941) - (1,958,941)
Principal paid on general obligation bonds (915,000) - (915,000)
Interest paid on general obligation bonds (70,885) - (70,885)
Net Cash (Used for) Capital and
Related Financing Activities (2,662,968) - (2,662,968)
Cash Flows from Investing Activities
Proceeds from sales and maturities of investment 500,000 3,500,000 4,000,000
Purchase of imvestments - (7,515,580) (7,515,580)
Interest income 38 15,680 15,718
Net Decrease in Cash and Equivalents (231,088) (170,396) (401,484)
Cash and Equivalents
Beginning of year 267,793 356,168 623,961
End of yea 36,705$ 185,772$ 222,477$
Continued
Year ended February 28, 2005
- 126 -
CITY OF EVANSTON, ILLINOIS
Combining Schedule 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 35,409$ 9,347,510$ 9,382,919$
Adjustments to reconcile operating income to
net cash provided by (used for) operating activities
Depreciation 1,455,720 - 1,455,720
Changes in assets and liabilities
Other receivables (127) (9,606) (9,733)
lnterfund receivable (244) 2,090,760 2,090,516
Inventory 35,746 - 35,746
Compensated absences 487 - 487
Accrued payroll 2,946 486 3,432
lnterfund payable (39,767) 1,064 (38,703)
Vouchers payable 91,672 (73,551) 18,121
Claims payable - (15,468,868) (15,468,868)
Due to other governments - (58,291) (58,291)
et Cash Provided By (Used For) Operating Activities 1,581,842$ (4,170,496)$ (2,588,654)$
Year ended February 28, 2005
- 127 -
THIS PAGE INTENTIONALLY LEFT BLANK
CAPITAL ASSETS USED IN THE OPERATION OF
GOVERNMENTAL FUNDS
CITY OF EVANSTON, ILLINOIS
2005 2004
Governmental funds capital assets:
Land $ 6,556,620 $ 6,556,620
Right of way 18,606,141 18,606,141
Buildings and improvements 76,877,897 76,477,157
Office equipment and furniture 10,629,496 5,696,745
Machinery and equipment 703,123 699,003
Library collections 9,929,181 9,354,086
Capitalized leases 1,190,567 1,190,567
Infrastructure 78,806,398 73,165,617
Construction in progress 9,284,228 3,563,951
Total governmental funds capital assets $ 212,583,651 $ 195,309,887
Investments in governmental funds capital assets by source:
Capital Project Funds $ 182,432,795 $ 165,738,247
General and Special Revenue Funds 29,537,332 28,958,116
Gifts / Donation 613,524 613,524
Total governmental funds capital assets $ 212,583,651 $ 195,309,887
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 $18 209 749 at Februar 28 2005 and $17 390 095 at Februar 29 2004.
- 128 -
Capital Assets Used in the Operation of Governmental Funds
Comparative Schedules by Source
Year ended February 28, 2005
CITY OF EVANSTON, ILLINOIS
General management and support $ 5,194,320 $ 5,565,293 $ 9,337,545 $ 180,312
Public safety 99,900 13,271,700 1,226,956 260,079
Public works 951,020 20,054,066 - 46,884
Recreation and cultural opportunities 311,380 37,986,838 64,995 215,848
Total capital assets $ 6,556,620 $ 76,877,897 $ 10,629,496 $ 703,123
Capital Assets Used in the Operation of Governmental Funds
Schedule by Function and Activit
Year ended February 28, 2005
Office
Buildings and equipment and Machinery and
FUNCTION AND ACTIVITY Land improvements furniture equipment
- 129 -
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 $18,209,749 at
February 28, 2005 and $17,390,095 at February 29, 2004.
$ - $ 18,606,141 $ 706,974 $ - $ - $ 39,590,585
- - 70,719 - - 14,929,354
- - - 73,983,125 9,284,228 104,319,323
9,929,181 - 412,874 4,823,273 - 53,744,389
$ 9,929,181 $ 18,606,141 $ 1,190,567 $ 78,806,398 $ 9,284,228 $ 212,583,651
Library Right of Capitalized Construction
Collections Way leases
- 130 -
Infrastructure in progress Total
CITY OF EVANSTON, ILLINOIS
General management and support $ 38,262,375 $ 4,892,161 $ (3,563,951) $ 39,590,585
Public safety 14,483,904 445,450 - 14,929,354
Public works 90,838,831 13,695,267 (214,775) 104,319,323
Recreation and cultural opportunities 51,724,777 2,101,769 (82,157) 53,744,389
Total capital asset $ 195,309,887 $ 21,134,647 $ (3,860,883) $ 212,583,651
Capital Assets Used in the Operation of Governmental Funds
Schedule of Changes by Function and Activity
Year ended February 28, 2005
Capital assets
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 $18,209,749 at
February 28, 2005 and $17,390,095 at February 29, 2004.
- 131 -
Capital assets
FUNCTION AND ACTIVITY March 1, 2004 Additions Deletions February 28, 2005
STATISTICAL SECTION (UNAUDITED)
CITY OF EVANSTON, ILLINOIS
Government-wide Expenses by Function
Year ended February 28, 2005
2003 2004 2005
Government Activities
General management and support 14,273,641$ 15,791,355$ 14,450,761$
Public safety 33,420,019 39,237,180 31,167,640
Public works 13,186,710 13,065,137 14,224,855
Health and human resource development 5,041,428 5,370,262 5,843,522
Recreation and cultural opportunities 16,247,049 17,129,356 18,276,621
Housing and economic development 5,817,651 5,973,494 6,757,476
Interest 4,540,304 4,899,622 5,086,412
Total governmental activities 92,526,802 101,466,406 95,807,287
Business-type Activities
Water 11,407,511 8,992,102 8,175,691
Motor vehicle parking system 3,701,739 3,468,096 4,777,494
Sewer 8,543,719 8,964,469 8,781,361
Maple avenue garage fund 2,678,894 3,028,429 3,148,145
Total business-type activities 26,331,863 24,453,096 24,882,691
Total expenses 118,858,665$ 125,919,502$ 120,689,978$
Source: City's Comprehensive Annual Financial Reports.
Note: The City implemented GASB-34 for the fiscal year ended February 28, 2003.
- 132 -
CITY OF EVANSTON, ILLINOIS
Government-wide Revenues
Year ended February 28, 2005
2003 2004 2005
Program revenues
Charges for services 53,636,822$ 56,731,361$ 58,870,294$
Operating grants and contributions 3,006,468 3,479,547 3,713,201
Capital grants and contributions 1,962,713 1,458,824 212,000
General revenues
Property and replacement taxes 71,718,463 75,929,482 79,714,394
Sales tax 217,000 345,000 345,000
Motor fuel tax 2,116,330 - - *
Special assessments 208,002 - - *
Gain on sale of capital assets 174,825 93,223 53,605
Miscellaneous 2,131,077 2,003,696 4,942,465
Investment income 1,698,323 2,054,006 1,928,258
Total revenues 136,870,023$ 142,095,139$ 149,779,217$
* Included in program revenues in 2004 and 2005
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
1996 1997 1998 1999
Taxes 44,435,251$ 47,377,295$ 49,253,561$ 51,219,538$
Licenses and permits 3,318,511 3,935,179 4,394,035 4,186,623
Intergovernmental 4,960,463 4,420,780 5,773,857 5,593,385
Charges for services 4,631,830 4,012,343 4,030,003 4,997,650
Fines and forfeits 1,689,984 1,902,396 2,763,919 2,830,747
Investment income 709,267 803,826 930,876 832,176
Miscellaneous 3,004,735 3,305,452 3,642,998 3,586,765
62,750,041$ 65,757,271$ 70,789,249$ 73,246,884$
Note: Includes General, Special Revenue and Debt Service Funds
- 134 -
2000 2001 2002 2003 2004 2005
56,526,013$ 61,553,222$ 62,319,808$ 52,545,639$ 56,923,353$ 59,026,698$
5,333,590 6,436,357 7,404,986 6,459,186 6,699,058 6,773,407
6,250,303 5,448,577 5,859,079 18,291,511 18,004,581 21,519,882
4,859,680 5,491,544 5,514,980 6,261,930 5,996,802 6,052,956
2,624,768 2,782,303 3,241,930 3,742,055 4,162,610 3,999,105
1,178,473 1,909,097 1,442,953 690,001 953,816 698,922
4,103,998 4,127,182 3,631,267 5,995,219 4,714,224 8,156,295
80,876,825$ 87,748,282$ 89,415,004$ 93,985,541$ 97,454,444$ 106,227,265$
- 135 -
CITY OF EVANSTON, ILLINOIS
General Governmental Expenditures - By Function/Program (City Funds)
Last Ten Fiscal Years
1996 1997 1998 1999
General management and support services 6,221,091$ 6,009,344$ 6,200,320$ 7,212,004$
Public Safety 19,190,402 19,493,788 21,239,535 22,181,724
Public Works 9,196,628 9,771,057 9,615,973 10,434,066
Health and human resource development 3,364,856 3,632,846 3,991,174 4,211,702
Recreation and cultural opportunities 9,176,867 9,624,646 9,939,803 10,590,037
Housing and economic development 4,911,069 4,534,206 6,320,413 5,336,215
Pension / IMRF 3,748,991 3,865,286 3,811,861 3,938,842
Debt service 12,605,427 18,486,089 15,791,760 12,187,953
68,415,331$ 75,417,262$ 76,910,839$ 76,092,543$
Note: Includes General, Special Revenue and Debt Service Funds
- 136 -
2000 2001 2002 2003 2004 2005
8,260,083$ 8,909,240$ 11,965,898$ 11,293,648$ 11,815,342$ 13,156,536$
22,504,948 23,927,733 25,454,153 26,875,820 28,008,431 29,707,010
12,677,399 12,211,887 11,655,007 10,847,474 11,118,899 12,070,461
4,341,946 4,743,728 4,620,954 4,839,565 5,272,090 5,800,662
11,729,639 12,107,322 13,028,036 13,422,959 14,251,886 15,493,468
7,013,119 5,619,661 6,292,771 5,661,898 5,882,117 6,717,231
3,858,622 3,926,955 4,090,630 4,209,396 2,687,984 1,371,992
10,717,903 11,095,141 10,639,365 11,224,087 14,548,084 12,912,536
81,103,659$ 82,541,667$ 87,746,814$ 88,374,847$ 93,584,833$ 97,229,896$
- 137 -
CITY OF EVANSTON, ILLINOIS
Schedule of Insurance in Force
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
Name of Company
FM Global FC359 3/01/05 - 3/01/06
Number Dates
Specific excess coverage in excess
of $500,000 er occurrence
Hartford Insurance Co. 83MSRZ3857
March 1, 2005
Policy Policy
Safety National Casualty Corp. SP8724-IL 9/15/04 - 9/15/05 Excess Workers'
Com ensation
Western World Insurance NPP939174 3/01/05 - 3/01/06
3/01/05 -3/01/06
- 138 -
Illinois National Insurance Co. 76081596 3/01/05 - 3/01/06
Lexington Insurance Co.
National Union Fire Ins. Co. (AIG) 4906490 3/01/05 - 3/01/06 Crime Policy
$10,000,000 coverage in excess of
$2,000,000 per occurrence (first
$2,000,000 is City's portion)
6500801 3/01/05 - 3/01/06
Excess Liability
$5,000,000 coverage in excess of
$10,000,000 er occurrence
Excess Liability
CITY OF EVANSTON, ILLINOIS
Property Tax Rates
Last Ten Levy Years
Tax Levy Year 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
General Corporate 1.3672 1.1649 1.1161 1.0918 0.9801 1.0231 1.0872 0.8646 0.8554 0.8977
Debt Service 0.5740 0.5308 0.5417 0.5946 0.5443 0.5574 0.5743 0.4467 0.4404 0.4494
1.9412 1.6957 1.6578 1.6864 1.5244 1.5805 1.6615 1.3113 1.2958 1.3471
Police Pension 0.2209 0.2111 0.2154 0.2138 0.2062 0.2021 0.2088 0.1819 0.1812 0.1981
Firefighters' Pension 0.1842 0.1774 0.1855 0.1681 0.1566 0.1505 0.1626 0.1348 0.1321 0.1520
Total All Fund 2.3463 2.0842 2.0587 2.0683 1.8872 1.9331 2.0329 1.6280 1.6091 1.6972
Actual Rate Extende 2.347 2.085 2.059 2.069 1.888 1.934 2.033 1.628 1.610 1.698
*2004 property tax rates were not available at publication of this report.
Fund
- 139 -
CITY OF EVANSTON, ILLINOIS
Property Tax Levies and Collections (City)
Last Ten Levy Years
Total Outstanding
Current Delinquent Total Collections and
Tax Tax Tax as Percent Delinquent
Collections Collections Collections of Levy Taxes
23,627,365$ 24,932$ 23,652,297$ 99.56%104,846$
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
3,136,363 - 3,136,363 9.77%28,964,294
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.
2003
- 140 -
2000
2001
26,217,646 96.58% 1.82%
96.53% 1.79%
27,957,126
Outstanding
(1)
Tax (2)
and
Delinquent
Percent
of Levy
Taxes as
Collected
Percent of
Current Levy
Levy
1999
Total
Tax LevyYear
25,137,352
23,757,143
1998
1995 0.44%
0.34%
97.76%
0.50%
99.45%
98.46%
97.80%
-0.05%
2002
26,305,327
23,757,143$
23,757,144
23,757,032
1996
1997
0.97%97.34%
29,813,787 95.81% 2.96%
1.49%97.60%
2004 32,100,657 9.77% 90.23%
CITY OF EVANSTON, ILLINOIS
Analysis of City Government Tax Levies
Last Ten Levy Years
Tax Levy Year 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
Fund
General Corporate 13,278,261$ 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$
Debt Service 6,050,947 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
19,329,208 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
Police Pension 2,405,808 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
Firefighters Pension 2,022,127 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
23,757,143$ 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$
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.
- 141 -
CITY OF EVANSTON, ILLINOIS
Property Tax Rates per $100 - Direct and Overlapping Governments
Last Ten Levy Years
Tax Levy Year 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
City of Evanston 2.347 2.085 2.059 2.069 1.888 1.934 2.033 1.628 1.610 1.698
Consolidated Elections - - - 0.027 - 0.023 - 0.032 - 0.029
Cook County 0.993 1.023 0.989 0.919 0.911 0.854 0.824 0.746 0.690 0.630
Cook County Forest Preserve District 0.073 0.072 0.074 0.074 0.072 0.070 0.069 0.067 0.061 0.059
Suburban T.B. Sanitarium 0.008 0.008 0.008 0.008 0.008 0.008 0.008 0.007 0.006 0.004
Metropolitan Water Reclamation District 0.495 0.495 0.492 0.451 0.444 0.419 0.415 0.401 0.371 0.361
North Shore Mosquito Abatement District 0.011 0.011 0.011 0.011 0.011 0.011 0.011 0.010 0.009 0.009
Evanston Township 0.088 0.077 0.076 0.077 0.072 0.072 0.077 0.064 0.062 0.065
Community College 535 0.255 0.233 0.206 0.216 0.205 0.203 0.213 0.186 0.179 0.186
School District 202 3.202 2.946 2.992 3.107 2.905 2.865 2.977 2.469 2.349 2.444
School District 65 4.678 4.245 4.209 4.356 4.126 4.073 4.232 3.516 3.343 3.475
Total tax rate for property not in park district
or special service distric 12.150 11.195 11.116 11.315 10.642 10.532 10.859 9.126 8.680 8.960
Percent of total tax rate levied by City of Evansto 19.3% 18.6% 18.5% 18.3% 17.7% 18.4% 18.7% 17.8% 18.5% 19.0%
*2004 property tax rates were not available at publication of this report.
Government Unit
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CITY OF EVANSTON, ILLINOIS
Equalized Assessed Valuation of Taxable Property
Last Ten Levy Years
Real Railroad Total Equalization
Property Property Assessment Factor
1,012,476,073 111,936 1,012,588,009 2.1135
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
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 2004 were not available at publication of this report.
2000
1999
2001
1998
Tax
Levy
Year
1997
1994
1995
1996
2002
- 143 -
2003
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
134,181$ 114,550$ 377,696$
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
Levy
1996
Year
1999
Tax
1998
1997
2001
2000
2005
2002
- 144 -
2003
2004
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
1,139,867,738 4,124,072$ 61,595,000$ 54,683,965$ 4.80%
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 (4)6,942,441 123,720,000 63,424,290 3.71%
1,737,543,904 (4)6,592,437 114,445,000 70,035,897 4.03%
1,727,147,885 (4)6,678,359 106,935,000 73,496,641 4.26%
Notes:
Equalized assessed values do not include tax increment financing district incremental equalized assessed values.
(3)These amount 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 Nat'l
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 is not being abated..
Last Ten Fiscal Years
General
Fiscal
Year
Ended
857.33
802.56
123,574,951
746.71
775.61
120,403,037$
(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.
Per Capita
Gross
Population Debt
Obligation
Net
General
Obligation
Debt
(2)
Bonded
Bonded
1997
73,233
73,233
1996
1998 73,233
2001
128,908,875
130,976,7521999 73,233
827.82
74,239 156,955,729
2002
817.40
74,239 147,832,588
2000 73,233 128,981,760
(4)Equalized assessed values for fiscal year ending 2004 were not available at publication of this report; therefore, fiscal year ending 2003 values are used.
- 145 -
2004 74,239 191,073,334 943.38
751.69
2003 74,239 194,086,731 854.33
2005 74,239 187,110,000 990.00
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) 73,496,641$ 100.000% 73,496,641$
Other bonded debt
County of Cook 2,583,170,000 (3) 1.653% 42,693,975
Metropolitan Water Reclamation
District 1,344,529,104 (4) 1.689% 22,711,786
High School District 202 15,300,978 (4) 89.919% 13,758,425
School District 65 49,425,000 89.919% 44,442,268
Skokie Park District 11,620,000 (5) 0.676% 78,575
Total Overlapping Debt 4,004,045,082 123,685,030
Total Direct and Overlapping Debt 4,077,541,723$ 197,181,671$
Notes:
City of Evanston's share based upon 2001 real property valuations.
(5)
February 28, 2005
- 146 -
(1)
Excludes $28,884,163 General Obligation bonds issued pursuant to Section 15 of the Local Government Debt
Reform Act ("Alternate Bonds").
(3)
(4)
Includes Cook County Forest Preserve District debt.
(2)
Excludes General Obligation Notes issued in lieu of tax anticipation warrants and notes issued to provide interim
construction financing.
Excludes general obligation bonds reported in the enterprise and internal service funds, general obligation notes
payable under line of credit with Northwestern University, and Special Service District No. 5 unlimited ad
valorem tax bonds.
CITY OF EVANSTON, ILLINOIS
Ratio of Annual Debt Service Expenditures for General Obligation Debt
to Total General Governmental Expenditures (City)
Last Ten Fiscal Years
(3) Ratio of
(1) (2) Total Debt Service
Interest Total General to General
and Paying Debt Governmental Governmental
Principal Agent Fees Service Expenditures Expenditures
4,940,639$ (3) 3,963,212$ 8,903,851$ 68,415,331$ 13.01%
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%
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.
(2)
(1)
- 147 -
(3)
Fiscal
Year
Ended
2000
2001
1996
1997
1998
1999
2002
2003
2004
2005
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 ninety-five million dollars ($95,000,000).
As of February 28, 2005, the amount of direct debt of the City appearing in the direct and overlapping debt
statistical table is $73,496,641. This amount includes certain outstanding general obligation debt to be retired in
future years with nonproperty tax revenue resources. Taking into account the nonproperty tax revenue, the
outstanding debt is within the budget policy guidelines.
- 148 -
The City is a home rule municipality. Article VII, Section 6(k) of the 1970 Illinois Constitution governs
computation of the legal debt margin.
“The General Assembly may limit by law the amount and require referendum approval of debt to be incurred by
home rule municipalities, payable from ad valorem property tax receipts, only in excess of the following
percentages of the assessed value of its taxable property… (2) If its population is more than 25,000 and less than
500,000, an aggregate of one percent;… Indebtedness which is outstanding on the effective date (July 1, 1971)
of this constitution or which is thereafter approved by referendum … shall not be included in the foregoing
ercenta e amounts.”
CITY OF EVANSTON, ILLINOIS
Water Fund
Schedule of Revenue Bond Coverage
Net
(1) Revenue
Direct Available
Gross Operating for Debt (2)
Revenue Expenses Service Principal Interest Total Coverage
12,128,099$ 4,984,307$ 7,143,792$ 1,382,500$ 1,170,384$ 2,552,884$ 2.80x
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
Notes:
Excludes depreciation and amortization.
2000
Fiscal
Year
Ended
Debt Service Requirements
1996
Last Ten Fiscal Years
1998
1999
2005
(1)
2001
2002
2003
2004
1997
Excludes interest paid by escrow agent.(2)
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CITY OF EVANSTON, ILLINOIS
Water Fund
Water Revenues by Area
Northwest
Water
Evanston Skokie Commission Total
6,911,950$ 2,907,178$ 3,181,411$ 13,000,539$
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
2003
2004
2005
1999
2000
2001
2002
Year
Ended
Last Seven Fiscal Years
Fiscal
Schedule of Operating Revenues
- 150 -
CITY OF EVANSTON, ILLINOIS
Water Fund
Water Pumpage by Area
Northwest
Water
Evanston Skokie Commission Total
3,446.67 3,931.28 9,532.74 16,910.69
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
2001
Pumpage to Distribution System (Millions of Gallons)
2002
2003
- 151 -
Last Seven Fiscal Years
Fiscal
Year
Ended
2004
2005
1999
2000
CITY OF EVANSTON, ILLINOIS
Water Fund
Ten Largest Water Customers
Cubic Feet of
Rank Name Water Used
1 Northwestern University 42,339,900
2 Evanston Hospital 13,185,200
3 St. Francis Hospital 9,973,000
4 Presbyterian Homes 6,104,100
5 District 202, ETHS 3,494,200
6 North Shore Hotel 2,934,500
7 Albany House 2,658,700
8 District 65 Schools 1,911,800
9 Best Western Hotel 1,701,000
10 Wagner Health Center (Mather Pavillion) 1,460,500
Ten Largest Water Customers (2004)
- 152 -
CITY OF EVANSTON, ILLINOIS
Water Fund
Water Allocations and Use
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)
- 153 -
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 $ 27,356 31.9 13.6 9,533 3.80%
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%
Data Sources
Last Ten Fiscal Years
2000
Fiscal
Year
Ended
1998
U.S. Department of Commerce, Bureau of the Census, 2000 census.
U.S. Department of Commerce, Bureau of the Census, 2000 census.
Evanston school boards - Districts #65 and #202 combined, based on enrollment figures as of September 30
of the previous year.
2003
2004
(2)
1997
2005
1996
(1)
2001
2002
1999
- 154 -
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)
(3)
U.S. Department of Commerce, Bureau of the Census, based on adjustments through the Chicago Consumer
(5)
CITY OF EVANSTON, ILLINOIS
Construction Value and Property Value
(1) (2)
Construction Property
Value Value
41,911,303$ 3,419,000,000
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
Data Sources
Last Ten Fiscal Years
City of Evanston building department
1999
1996
2005
2004
1998
Year
Fiscal
Ended
1997
- 155 -
2000
(2)
2001
2002
(1)
2003
Estimated actual value.
CITY OF EVANSTON, ILLINOIS
Principal Taxpayers
(1) Percentage
Equalized of Total
Assessed Assessed
Type of Business Valuation Valuation
Bank One/Office Building 21,567,189$ 1.26%
Office building - 18 story 16,757,724 0.98%
REP CBRE Office building - Church & Davis 15,849,992 0.93%
Chicago Ave. Condo Building 14,570,008 0.85%
Church Street Plaza Shopping Center 12,754,867 0.75%
Shopping Center 11,696,568 0.68%
Grocery & Drug Stores 11,566,292 0.68%
Chicago Avenue Condo Building 11,502,824 0.67%
Hotel 10,814,757 0.63%
1800 Sherman/Office Building 10,778,529 0.63%
137,858,750$ 7.93%
Note:
Evanston NW Healthcare
Evanston Plaza Freed
Church & Chicago LTD. Partnership
Lynn Minnici
Ten Largest Taxpayers
Taxpayers
Rotary International
Golub & Company
Albertson's (Jewel & Osco)
Evanston Hotel
Total Ten Largest Taxpayers
- 156 -
(1)January 1, 2003 - Levy year 2003 for 2004 tax billing purposes. Levy year 2002 equalized assessed valuation, including tax
increment financing district incremental values, was $1,837,727,164
CITY OF EVANSTON, ILLINOIS
Miscellanous Statistics
February 28, 2005
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 $37,384
Annual Gross Retail Sales 2004/05 $871,318,597
Municipal Services and Facilities
Number of Full-Time Employees 790
Miles of Streets 137
Miles of Alleys 70
Miles of Sewers 150
Number of Street Lights 5,448
Value of Construction Authorized in 2004/2005 $237,211,198
Continued
- 157 -
CITY OF EVANSTON, ILLINOIS
Miscellanous Statistics - Continued
February 28, 2005
Fire Protection
Number of Firefighters 110
Number of Other Employees 2
Number of Stations 5
Number of Fire Hydrants 1,200
I.S.O. Rating Class 3
Police Protection
Number of Police Officers 158
Number of School Crossing Guards 45
Number of Parking Enforcement Officers 16
Number of Other Employees 49
Library Services
Number of Branch Libraries 2
Number of Books and Other Materials 545,670
Number of Registered Borrowers 40,770
Loan of Library Materials - 2004/2005 880,561
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 42,605,000
Maximum Daily Pumpage (gallons) 2004/2005 60,395,000
Miles of Water Mains 159.290
- 158 -
TAX INCREMENT FINANCING DISTRICT
REQUIREMENTS