2018 Comprehensive Annual Financial

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2018 Comprehensive Annual Financial CITY OF NAPERVILLE, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2018 CITY OF NAPERVILLE, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT For the Year Ended December 31, 2018 Prepared by: The Finance Department CITY OF NAPERVILLE, ILLINOIS TABLE OF CONTENTS Page(s) INTRODUCTORY SECTION List of Principal Officials.............................................................................................. i Organization Chart ........................................................................................................ ii Certificate of Achievement for Excellence in Financial Reporting .............................. iii Transmittal Letter.......................................................................................................... iv-ix FINANCIAL SECTION INDEPENDENT AUDITORS' REPORT .................................................................... 1-3 GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS Management’s Discussion and Analysis .................................................................. MD&A 1-14 Basic Financial Statements Government-Wide Financial Statements Statement of Net Position ............................................................................... 4 Statement of Activities ................................................................................... 5-6 Fund Financial Statements Governmental Funds Balance Sheet ............................................................................................. 7-8 Reconciliation of Fund Balances of Governmental Funds to the Governmental Activities in the Statement of Net Position ................ 9 Statement of Revenues, Expenditures, and Changes in Fund Balances .......................................................................................... 10 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the Governmental Activities in the Statement of Activities .................................................. 11 CITY OF NAPERVILLE, ILLINOIS TABLE OF CONTENTS (Continued) Page(s) FINANCIAL SECTION (Continued) GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS (Continued) Basic Financial Statements (Continued) Fund Financial Statements (Continued) Proprietary Funds Statement of Net Position .......................................................................... 12-13 Statement of Revenues, Expenses, and Changes in Fund Net Position .................................................................................... 14 Statement of Cash Flows ........................................................................... 15-16 Fiduciary Funds Statement of Fiduciary Net Position .......................................................... 17 Statement of Changes in Fiduciary Net Position ....................................... 18 Notes to the Financial Statements ....................................................................... 19-71 Required Supplementary Information Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual - General Fund ..................................... 72 Notes to Required Supplementary Information - Budgetary Comparison Schedule ........................................................................................ 73 Schedule of Employer Contributions Illinois Municipal Retirement Fund ............................................................... 74 Police Pension Fund ....................................................................................... 75 Firefighters’ Pension Fund ............................................................................. 76 Schedule of Changes in the Employer’s Net Pension Liability and Related Ratios Illinois Municipal Retirement Fund ............................................................... 77 Police Pension Fund ....................................................................................... 78 Firefighters’ Pension Fund ............................................................................. 79 Schedule of Changes in the Employer’s Total OPEB Liability and Related Ratios Other Postemployment Benefit Plan .............................................................. 80 CITY OF NAPERVILLE, ILLINOIS TABLE OF CONTENTS (Continued) Page(s) FINANCIAL SECTION (Continued) GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS (Continued) Required Supplementary Information (Continued) Schedule of Investment Returns Police Pension Fund ....................................................................................... 81 Firefighters’ Pension Fund ............................................................................. 82 COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES MAJOR GOVERNMENTAL FUNDS Detailed Schedules of Revenues - Budget and Actual - General Fund ............... 83-85 Detailed Schedule of Expenditures - Budget and Actual - General Fund ........... 86-91 Schedules of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual - Debt Service ........................................... 92 NONMAJOR GOVERNMENTAL FUNDS Combining Balance Sheet ................................................................................... 93-95 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances ................................................................................................... 96-98 Special Revenue Funds Schedules of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Motor Fuel Tax Fund ................................................................................. 99 Community Development Block Grant Fund ............................................ 100 Road and Bridge Fund ............................................................................... 101 Naper Settlement Fund .............................................................................. 102-103 E-911 Surcharge Fund ............................................................................... 104 Food and Beverage Tax Fund .................................................................... 105 Special Service Area #26 – Downtown Maintenance Fund ...................... 106 Test Track Fund ......................................................................................... 107 Drug Forfeiture Fund ................................................................................. 108 Special Service Area #25 Fund.................................................................. 109 ETSB Fund ................................................................................................ 110 CITY OF NAPERVILLE, ILLINOIS TABLE OF CONTENTS (Continued) Page(s) FINANCIAL SECTION (Continued) COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES (Continued) NONMAJOR GOVERNMENTAL FUNDS (Continued) Debt Service Funds Schedules of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Special Service Area #21 Fund.................................................................. 111 Special Service Area #23 Fund.................................................................. 112 Downtown Parking Fund ........................................................................... 113 Capital Projects Funds Schedules of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Capital Projects Fund ................................................................................. 114 Bond Project Fund ..................................................................................... 115 FIDUCIARY FUNDS Combining Statement of Fiduciary Net Position ................................................ 116 Combining Statement of Changes in Fiduciary Net Position ............................. 117 OTHER SUPPLEMENTAL INFORMATION Consolidated Year End Financial Report ................................................................ 118 STATISTICAL SECTION (Unaudited) Financial Trends Net Position by Component ..................................................................................... 119-120 Changes in Net Position ........................................................................................... 121-124 Fund Balances of Governmental Funds ................................................................... 125-126 Changes in Fund Balances of Governmental Funds ................................................ 127-128 Revenue Capacity Governmental Funds Tax Revenue by Source ......................................................... 129 Assessed Value and Actual Value of Taxable Property ........................................... 130 Property Tax Rates - Direct and Overlapping Governments ................................... 131 Principal Property Taxpayers ................................................................................... 132 Property Tax Levies and Collections ....................................................................... 133 Sales Taxes by Category .......................................................................................... 134 Direct and Overlapping Sales Tax Rates ................................................................. 135 CITY OF NAPERVILLE, ILLINOIS TABLE OF CONTENTS (Continued) Page(s) STATISTICAL SECTION (Unaudited) (Continued) Debt Capacity Ratios of Outstanding Debt by Type ........................................................................ 136 Ratios of General Bonded Debt Outstanding ........................................................... 137 Direct and Overlapping Governmental
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