Comprehensive Annual Financial Report
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....I 1--1 .. 2009 (/) ~ e "'C co Comprehensive OJ ~ o c Annual -. -e ~ Financial \.le > .--1-1 Report U For the Fiscal Year Ending December 31, 2009 CITY OF ROLLING MEADOWS, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 2009 Prepared by Finance Department CITY OF ROLLING MEADOWS, ILLINOIS TABLE OF CONTENTS PAGE INTRODUCTORY SECTION List ofPrincipal Officials i .. Ch .. Organlzatlon art 11 GFOA Certificate ofAchievement for Excellence in Financial Reporting iii Letter ofTransmittal iv - viii FINANCIAL SECTION INDEPENDENT AUDITORS' REPORT 1 - 2 MANAGEMENT'S DISCUSSION AND ANALYSIS MD&A 1 - 10 BASIC FINANCIAL STATEMENTS Government-Wide Financial Statements Statement ofNet Assets 3 - 4 Statement ofActivities 5 - 6 Fund Financial Statements Balance Sheet - Governmental Funds 7 Reconciliation ofTotal Governmental Fund Balance to Net Assets ofGovernmental Activities 8 Statement ofRevenues, Expenditures and Changes in Fund Balances - Governmental Funds 9 Reconciliation ofthe Statement ofRevenues, Expenditures and Changes in Fund Balances to the Statement ofActivities - Governmental Funds 10 Statement ofNet Assets - Proprietary Funds 11 - 12 Statement ofRevenues, Expenses and Changes in Net Assets - Proprietary Funds 13 - 14 Statement ofCash Flows - Proprietary Funds 15 - 16 Statement ofNet Assets - Fiduciary Funds 17 Statement ofChanges in Net Assets - Fiduciary Funds 18 Notes to the Financial Statements 19 - 65 CITY OF ROLLING MEADOWS, ILLINOIS TABLE OF CONTENTS PAGE FINANCIAL SECTION - Continued REQUIRED SUPPLEMENTARY INFORMATION Schedule ofFunding Progress Illinois Municipal Retirement Fund 66 Police Pension Fund 67 Firefighters' Pension Fund 68 Other Post-Employment Benefits Plan 69 Employer Contributions Illinois Municipal Retirement Fund 70 Police Pension Fund 71 Firefighters' Pension Fund 72 Other Post-Employment Benefits Plan 73 Schedule ofRevenues, Expenditures and Changes in Fund Balance - Budget and Actual General Fund 74 Motor Fuel Tax - Special Revenue Fund 75 COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES Governmental Funds Major Governmental Funds General Fund Schedule ofRevenues - Budget and Actual 76 - 77 Schedule ofDetailed Expenditures - Budget and Actual 78 - 86 General Obligation Bond Series of2005 - Debt Service Fund Schedule ofRevenues, Expenditures and Changes in Fund Balance - Budget and Actual ...87 Nonmajor Governmental Funds Combining Balance Sheet 88 Combining Statement ofRevenues, Expenditures and Changes in Fund Balances 89 Nonmajor Special Revenue Funds Combining Balance Sheet 90 - 91 Combining Statement ofRevenues, Expenditures and Changes in Fund Balances 92 - 93 Schedule ofRevenues, Expenditures and Changes in Fund Balance - Budget and Actual Street Systems - Special Revenue Fund 94 911 Emergency Telephone - Special Revenue Fund 95 . Economic Development - Special Revenue Fund 96 Enhanced DUI Enforcement - Special Revenue Fund 97 Nonmajor Debt Service Funds Combining Balance Sheet 98 Combining Statement ofRevenues, Expenditures and Changes in Fund Balances 99 CITY OF ROLLING MEADOWS, ILLINOIS TABLE OF CONTENTS PAGE FINANCIAL SECTION - Continued COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES - Continued Governmental Funds - Continued Nonmajor Governmental Funds - Continued Nonmajor Debt Service Funds - Continued Schedule ofRevenues, Expenditures and Changes in Fund Balance - Budget and Actual General Obligation Bond Series of2002A - Debt Service Fund 100 General Obligation Bond Series of2004 - Debt Service Fund 101 Nonmajor Capital Projects Funds Combining Balance Sheet 102 - 103 Combining Statement ofRevenues, Expenditures and Changes in Fund Balances 104 - 105 Schedule ofRevenues, Expenditures and Changes in Fund Balance - Budget and Actual Equipment - Capital Projects Fund 106 Local Road - Capital Projects Fund 107 2002 Construction - Capital Projects Fund 108 Emergency Reserve Infrastructure - Capital Projects Fund 109 Transit Oriented Area Development - Capital Projects Fund 110 TIF #1 Kirchoff/Meadows - Capital Projects Fund 111 TIF #2 Kirchoff/Owl- Capital Projects Fund 112 Special Service Area #1 Algonquin Parkway - Capital Projects Fund 113 Special Service Area #3 Marketplace - Capital Projects Fund 114 Route 53 - Capital Projects Fund 115 Plum Grove Road - Capital Projects Fund 116 Fire Station - Capital Projects Fund 117 Proprietary Funds Enterprise Funds Water Fund Schedule ofRevenues, Expenses and Changes in Net Assets - Budget and Actual 118 Schedule ofOperating Expenses - Budget and Actual 119 - 120 Sewer Fund Schedule ofRevenues, Expenses and Changes in Net Assets - Budget and Actual 121 Schedule ofOperating Expenses - Budget and Actual 122 Refuse Collection Fund Schedule ofRevenues, Expenses and Changes in Net Assets - Budget and Actual 123 Schedule ofOperating Expenses - Budget and Actual 124 Stormwater Management Schedule ofRevenues, Expenses and Changes in Net Assets - Budget and Actual 125 Schedule ofOperating Expenses - Budget and Actual 126 CITY OF ROLLING MEADOWS, ILLINOIS TABLE OF CONTENTS PAGE FINANCIAL SECTION - Continued COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES - Continued Proprietary Funds - Continued Internal Service Funds Combining Statement ofNet Assets 127 - 128 Combining Statement ofRevenues, Expenses and Changes in Net Assets 129 - 130 Combining Statement ofCash Flows 131 - 132 Schedule ofRevenues, Expenses and Changes in Fund Balance - Budget and Actual Municipal Garage - Internal Service Fund 133 Vehicle Replacement - Internal Service Fund 134 Buildings and Land - Internal Service Fund 135 Liability Insurance - Internal Service Fund 136 Health Insurance - Internal Service Fund 137 Trust and Agency Funds Pension Trust Funds Combining Statement ofNet Plan Assets 138 Combining Statement ofChanges in Net Plan Assets 139 Agency Fund Statement ofChanges in Assets and Liabilities - Compliance Deposits 140 SUPPLEMENTAL SCHEDULES Long-Term Debt Requirements General Obligation Bonds of2002A 141 General Obligation Bonds of2002B. 142 General Obligation Bonds of2003 143 General Obligation Bonds of2004 144 General Obligation Bonds of2005 145 General Obligation Bonds of2007 146 General Obligation Bonds of2007A 147 CITY OF ROLLING MEADOWS, ILLINOIS TABLE OF CONTENTS PAGE STATISTICAL SECTION (UNAUDITED) - Continued Net Assets by Component - Last Eight Fiscal Years 148 - 149 Changes in Net Assets - Last Eight Fiscal Years 150 Fund Balances ofGovernmental Funds - Last Ten Fiscal Years 151 - 152 Changes in Fund Balances for Governmental Funds - Last Ten Fiscal years 153 - 154 Assessed Value and Actual Value ofTaxable Property - Last Ten Levy Years 155 - 156 Direct and Overlapping Property Tax Rates - Elk Grove Township - Last Ten Levy Years 157 - 158 Direct and Overlapping Property Tax Rates - Palatine Township (High School District 211) - Last Ten Levy Years 159 - 160 Direct and Overlapping Property Tax Rates - Palatine Township (High School District 214) - Last Ten Levy Years 161 - 162 Principal Property Tax Payers - Current Year and Nine Years Ago 163 Property Tax Levies and Collections - Last Ten Levy Years 164 Taxable Sales by Category - Last Ten Fiscal years 165 - 166 Direct and Overlapping Sales Tax Rates - Last Ten Fiscal Years 167 Local Tax Revenue - Last Ten Fiscal Years 168 Ratios ofOutstanding Debt by Type - Last Ten Fiscal Years 169 Ratios ofGeneral Bonded Debt Outstanding - Last Ten Fiscal Years 170 Schedule ofDirect and Overlapping Governmental Activities Debt.. 171 Schedule ofLegal Debt Margin 172 Demographic and Economic Statistics - Last Ten Fiscal Years 173 Principal Property Tax Payers - Current Year and Nine Years Ago 174 Full-Time and Part-Time Employees by Function/Program - Last Ten Fiscal years 175 - 176 Operating Indicators by Function/Program - Last Ten Fiscal Years 177 - 178 Capital Asset Statistics by Function/Program - Last Ten Fiscal years 179 - 180 Water Sold by Type ofCustomer - Last Ten Fiscal years 181 - 182 Continuing Bond Disclosures 183 - 186 INTRODUCTORY SECTION This section includes miscellaneous data regarding the City ofRolling Meadows, including: • List ofPrincipal Officials • Organization Chart • Certificate ofAchievement for Excellence in Financial Reporting • Letter ofTransmittal CITY OF ROLLING MEADOWS, ILLINOIS Principal Officials December 31,2009 LEGISLATIVE Mayor: Kenneth Nelson City Clerk: Lisa Hinman Ward 1: John Pitzaferro, Alderman Ward 2: Barb Lusk, Alderman Ward 3: Larry Buske, Alderman Ward 4: Brad Judd, Alderman WardS: Glenn Adams, Alderman Ward 6: John D'Astice, Alderman Ward 7: James Larsen, Alderman ADMINISTRATIVE City Manager: Sarah Phillips Director ofFinance: Jim Egeberg Director ofPublic Works: Fred Vogt Police Chief: Steven Williams Fire Chief: Ronald Stewart Community Development Director: Valerie Dehner 1 City of Rolling Meadows Organization Chart Residents of Rolling Meadows Mayor, City Council & City Clerk 1---11 Boards & Commissions II City Manager I~ I.!::::=====:::===::!J~ _______ City - Assistant City Attorney Manager/Human Resources City Prosecutor City I- Engineer I \ Police Fire Public Works Finance Community Development 11 Certificate of .Achievement for Excellence in Financial Reporting Presel,1ted to City ofRolling Meadows Illinois For its Comprellensive Annual Financi~ Report for the Fiscal Year Ended December 31,2008 A Certificate ofAchievement for Excellence in Financial . Reporting is presented by the Government Finance Officers Association ofthe Unit~d States and Canada to government units and public employee retirement systems whose comprehensive