Village of Schaumburg, Illinois
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VILLAGE OF SCHAUMBURG, ILLINOIS COMPFEHENSNE ANNUAL FINANCIAL REPORT For the Year Ended April 30,2002 Prepared by: Department of Finance and Administration Keith R. Wendland, Director Steven J. Shields, Assistance Director VILLAGE OF SCHAUMBURG, ILLINOIS TABLE OF CONTENTS INTRODUCTORY SECTION Officers and Officials ........................................................................................................ i . Organization Chart ............................................................................................................ 11 Certificate of Achievement for Excellence ... in Financial Reporting.. ................................................................................................... 111 Letter of Transmittal ......................................................................................................... iv-xii FINANCIAL SECTION INDEPENDENT AUDITOR'S REPORT ........................................................................ GENERAL PURPOSE FINANCIAL STATEMENTS Combined Balance Sheet - All Fund Types and Account Groups ............................... 3-6 Combined Statement of Revenues, Expenditures and Changes in Fund Balances - All Governmental Fund Types and Similar Trust Funds ............................................................................................. 7 Combined Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - All Governmental Fund Types ................................................................................... 8-9 Combined Statement of Revenues, Expenses and Changes in Retained Earnings - All Proprietary Fund Types .................................... 10 Combined Statement of Cash Flows - Proprietary Fund Type ................................................................................................ 11 Combined Statement of Changes in Plan Net Assets - Pension Trust Funds ................................................................................................... 12 Notes to Financial Statements ...................................................................................... 13-42 REQUIRED SUPPLEMENTARY INFORMATION Schedule of Funding Progress Illinois Municipal Retirement Fund ............................................................................ Police Pension Fund .................................................................................................... Firefighters' Pension Fund .......................................................................................... VILLAGE OF SCHAUMBURG, ILLINOIS TABLE OF CONTENTS (Continued) Pagels) FINANCIAL SECTION (Continued) REQUIRED SUPPLEMENTARY INFORMATION (Continued) Schedule of Employer Contributions Illinois Municipal Retirement Fund ......................................,.. .................................... 46 Police Pension Fund .................................................................................................... 47 Firefighters' Pension Fund ...................................................................................... 48 COMBINING, WIVIDUAL FUND AND ACCOUNT GROUP FINANCIAL STATEMENTS AND SCHEDULES GOVERNMENTAL FUND TYPES General Fund Balance Sheet ......................................................................................................... 49 Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual ........................................................................ 50 Schedule of Revenues - Budget and Actual ......................................................... 51-53 Schedule of Expenditures - Budget and Actual ...................................................... 54-71 Special Revenue Funds Combining Balance Sheet ....................................................................................... 72 Combining Statement of Revenues, Expenditures and Changes in Fund Balances .............................................................................. 73 Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Motor Fuel Tax Fund .......................................................................................... 74 Schaurnburg Transit Program Fund ...............,........................+........+,........,,..... 7 5 Community Development Block Grant Fund ................................................... 76 9 1 1 Phone Fund.. ................................................................................................ 77 Debt Service Funds Combining Balance Sheet ......................................,. ............................................... 78 Combining Statement of Revenue, Expenditures and Changes in Fund Balances - Budget and Actual ............................................. 79-80 VILLAGE OF SCHAUMBURG, ILLINOIS TABLE OF CONTENTS (Continued) Pagels1 FINANCIAL SECTION (Continued) COMBINING, INDIVIDUAL FUND AND ACCOUNT GROUP FINANCIAL STATEMENTS AND SCHEDULES (Continued) GOVERNMENTAL FUND TYPES (Continued) Capital Projects Funds Combining Balance Sheet ....................................................................................... Combining Statement of Revenues, Expenditures and Changes in Fund Balances.. ............................................................................ Statement of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Capital hprovernent Fund ................................................................................. Olde Schaumburg Centre Special Allocation Fund ............................................ 2000 Land Acquisition and Street Improvement Fund ....................................... Special Service Area #6 Fund ............................................................................ Special Service Area #7 Fund ............................................................................ Special Service Area #8 Fund ............................................................................ Special Service Area #9 Fund ............................................................................ Special Service Area #10 Fund .......................................................................... PROPRIETARY FUND TYPE Enterprise Funds Combining Balance Sheet ..................................................................................... 93-94 Combining Schedule of Changes in Contributed Capital ....................................... 95 Combining Statement of Revenues, Expenses and Changes in Retained Earnings (Accumulated Deficit) ................................... 96-97 Combining Statement of Cash Flows ...................................................................... 98-99 Waterworks and Sewerage Fund Schedule of Operating Revenues - Budget and Actual ....................................... 100 Schedule of Operating Expenses - Budget and Actual ....................................... 101-1 02 Commuter Parking Lot Fund Schedule of Operating Revenue and Expenses - Budget and Actual ............................................................................................ Schaumburg Regional Airport Fund Schedule of Operating Revenue and Expenses - Budget and Actual ............................................................................................ 104 VILLAGE OF SCHAUMBURG, ILLINOIS TABLE OF CONTENTS (Continued) Pagels) FINANCIAL SECTION (Continued) COMBINING, INDIVIDUAL FUND AND ACCOUNT GROUP FINANCIAL STATEMENTS AND SCHEDULES (Continued) PROPRIETARY FUND TYPE (Continued) Enterprise Funds(Continued) Schaumburg Baseball Stadium Fund Schedule of Operating Revenues - Budget and Actual ....................................... 105 Schedule of Operating Expenses - Budget and Actual ....................................... 106 Internal Service Funds Combining Balance Sheet ....................................................................................... 107 Combining Schedule of Changes in Contributed Capital ....................................... 108 Combining Statement of Revenue, Expenses and Changes in Retained Earnings ............................................................................................. 109 Combining Statement of Cash Flows ...................................................................... 110 Schedule of Revenue, Expenses and Changes in Retained Earnings - Budget and Actual (Budgetary Basis) Vehicular Replacement Fund ............................................................................. 111 Office Equipment Replacement Fund ................................................................ 112 Building Replacement Fund ............................................................................... 113 FIDUCIARY FUND TYPE Trust And Agency Funds Combining Balance Sheet ....................................................................................... 114 Combining Statement of Plan Net Assets - Pension Trust Funds .............................................................................................. 115 Statement of Changes in Plan Net Assets - Pension Trust Fund ................................................................................................ 116 Statement of Revenue, Expenditures and Changes in Fund Balance - Expendable Trust Fund Medical Facility Fund ......................................................................................... 117 Combining Balance Sheet - Agency Funds ............................................................. 118 Combining Statement of Changes in Assets and Liabilities - Agency Funds