Village of Carpentersville Fund Financial Performance Summary As of January 31, 2017 YTD

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1 To: From: Subject: Memorandum J Mark Rooney, Village Manager Hitesh Desai, Finance Director Katrina Hanna, Assistant Finance Director December 2016 Monthly Staff and Financial Report Date: February 21, 2017 Please find attached the unaudited financial statements for the fiscal year ended January 31, A summary by fund for total revenues, expenditures/expenses, and fund balances is as follows: Fund Financial Performance Summary YTD Fund Name Fund Number Revenue Expenditure Net Fund Balance, net of Capital Cash & Investment Balance General Fund 001 1,616,501 1,702,013 (85,511) 9,671,122 4,287,114 Escrow Fund , ,401 Debt Service Fund 030 4,360-4,360 1,080,029 1,036,918 Strengthening Families Fund 090 2, ,797 88,660 89,049 Water and Sewer Fund , ,621 (211,121) 7,026,049 8,670,854 Capital Equipment Replacement Fund ,455-73, , ,127 Capital Projects Fund ,828 18,000 83,828 7,170,495 7,443,415 Veterans Garden Fund ,891 51,891 Motor Fuel Tax Fund ,668-86, , ,596 SSA # 1 Newport Cove (5,228) * - SSA # 2 Oak Meadows ,704 2,704 SSA # 3 Keele Farms ,449 39,449 SSA # 21 White Oaks ,041 9,041 TIF # 1 Spring Hill Mall , ,123 TIF # 3 Route (6,974,345) * - TIF # 4 Spring Hill Mall Redevelopment (566) ** - TIF #5 Old Town 805 1,611-1,611 2,832,384 2,836,414 Foreign Fire Tax Board (227) 42,204 13,462 Park Trust Fund (Restricted) 970 9, , , ,067 Insurance Fund , ,561 96, ,043 50,507 Total $ 2,920,649 $ 2,860,027 $ 60,622 $ 23,876,802 26,858,132 This summary does not include Police and Fire Pension Funds * Entire amount is recognized as an advance from the General Fund. This loan will be repaid as the fund begins receiving revenues. ** Entire amount is recognized as an advance from TIF #1. This loan will be repaid as the fund begins receiving revenues. Included above are the balances for the year ending as of January 31, 2017 for both fund and cash balances. Of these two amounts, cash balance is the more meaningful metric since this i

2 represents liquid cash and/or invested assets which may be used (or easily sold) to support and fund current operations. While ending fund balance is also an important measurement of the Village s financial health, it usually includes illiquid assets or future cash receipts or disbursements such as receivables (including property tax) due to the Village and accounts payable/accrued expenses. It is important to note that the fund balances and 2016 ending balances are preliminary closing balances in each fund. Amounts will change as part of the year end accrual and close-out process. Final amounts will be reported in April 2017 after the annual audit is performed., the General Fund is reporting a cash and investment balance of $4,287,114. The majority of the difference between fund balance and cash balance is a long-term receivable of roughly $2.66 million from TIF #3 Fund and a little over $3.0 million receivable from the State of Illinois for various tax disbursements. to actual for revenues are 5.3% while expenditures are 5.6% compared to target level of 8.3%. Some of other major revenues like Sales Tax, Income Tax, and Telecommunication Tax include estimates because of the time lag in disbursements from the State. Since this is the first month of the year, it is too early to draw any conclusions as to variances between budget and actual for revenues and expenditures. In addition, Property Tax dollars will begin being disbursed in May. General Fund Restricted fund balance for Asset Forfeiture $151, General Fund Assigned fund balance from Video Gaming revenues (for Community Improvements) $0. In January 2017, Video Gaming transferred $100,000 to the CIP Fund for matching funds Keith Andres Park IEPA 319 Grant. The Fund Balance assigned to Video Gaming will increase during the year, as revenues are received. Both of these require specific, approved expenditures in order to be drawn upon. The majority of the cash balance in the Capital Projects fund is set aside for current and future bond related projects. Finance anticipates receiving more invoices in the upcoming months for some of the major infrastructure projects. The entire cash balance in the Park Trust Fund is held in Trust. This Fund was established through an endowment which requires minimum annual distributions per IRS rules and regulations. Attached is to Actual Reports for all the funds including General, Water/Sewer, CERF, and Capital Projects Funds. Please note that these balances could change as a result of the audit process. If there are any questions on the attached report, please contact me by phone at ( ) or by hdesai@cville.org. ii

3 General Fund YTD Property Tax 11,128,933 11,104,190 11,499, % (1) Property Tax - Fire Protection Dist 820, , , % Income Tax 3,600,000 3,894,530 3,924, , % Sales Tax - Municipal 3,152,000 3,339,688 3,390, , % Sales Tax - Home Rule 4,248,000 4,438,461 4,470, , % Utility Tax 1,440,000 1,541,572 1,560, , % State Use Tax 725, , ,000 73, % Telecommunication Tax 468, , ,000 38, % Personal Property Replacement Tax 145, , ,000 25, % Video Gaming Tax 50, , ,000 9, % Cable Franchise Fees 420, , ,000 17, % License Fees - Business and Liquor 85, ,350 85,350 7, % License Fees - Rental 166, , ,497 18, % Permit Fees - Building 203, , ,000 3, % Permit Fees - Electrical 30,556 58,854 56,646 1, % Permit Fees - Plumbing 36,604 12,150 29, % Permit Fees - Other 57,604 28,050 39,250 1, % Public Service Fee % Fines and Forfeitures 233, , ,000 32, % Charges for Service 1,627,930 1,851,369 1,938, , % Intergovernmental - 1, % Rent 81,578 85,495 87,828 3, % Other 44, ,749 61, % Interest Income 9,600 18,517 13,000 2, % Sale of Equipment % Interfund Transfers In 259,060 71,544 86, % Total 29,033,174 30,331,427 30,711,106 1,616, % Legislative 226, , ,285 10, % Administration 610, , ,447 37, % Financial Operations 523, , ,867 31, % I.T. 447, , ,511 15, % General Services 4,077,750 3,907,401 4,268,982 69, % Public Buildings 337, , ,103 13, % Parks 212, , ,524 8, % Streets 2,257,852 2,245,261 2,552, , % Vehicle Maintenance 863, , ,490 23, % Community Development 1,199,037 1,263,477 1,345,027 92, % Police and Fire Commission 36,890 17,904 45, % Police 11,493,688 11,060,850 11,692, , % Fire 6,474,102 6,414,114 6,677, , % ESDA 3,850 2,422 3, % Page 1 of 13

4 YTD Transfer to Debt Service Fund 259, , , % Transfer to Capital Projects Fund - 200, , , % (2) Transfer to CERF Fund 400, , ,000 50, % Transfer to MFT Fund 500, , % Transfer to Insurance Fund - 300, % Total 29,923,761 29,322,166 30,612,603 1,702, % Net Surplus (Deficit) (890,587) 1,009,260 98,503 (85,511) Beginning Fund Balance 8,747,373 9,756,633 Ending Fund Balance 9,756,633 9,671,122 (1) The first property tax distributions will occur in May (2) Keith Andres IEPA 319 Matching/paid from Video Gaming Page 2 of 13

5 Water and Sewer Fund Charges for Service - Water 4,033,010 4,315,338 3,979, , % Charges for Service - Sewer 3,883,341 4,025,964 3,687, , % Service Fees and Penalties 272, , ,000 27, % Rent 41,475 73,216 42,204 1, % Other % Interest Income 8,600 13,018 27,700 2, % Total 8,239,301 8,705,830 7,988, , % Finance and General Services 729, , ,256 51, % Water Facilities 1,643,447 1,514,524 1,667,469 85, % Sewer 1,636,850 1,578,782 1,747,735 78, % Underground 1,177,300 1,026,231 1,140,192 60, % Capital Vehicles & Equipment 701, , ,000 2, % Engineering, Construction, and Improvements 467, ,301 2,290, % Depreciation and Assets Capitalized % Debt Service Principal 1,174,960 1,268,526 1,269, , % (1) Interest 512, , , , % (1) Issuance Costs - 2, % Agent Fees 2,405 3,626 2, % Total 8,046,020 7,326,113 9,609, , % Net Surplus (Deficit) 193,281 1,379,717 (1,620,786) (211,121) Beginning Fund Balance 40,497,776 41,877,493 Ending Fund Balance 41,877,493 41,666,372 Less Investment in Capital Assets (34,640,323) (34,640,323) Available Fund Balance 7,237,170 7,026,049 YTD (1) Debt service payments are made in January and July/June and December (GO Bonds), April and October (IEPA) Page 3 of 13

6 Capital Equipment Replacement Fund Telecommunication Tax 144, , ,000 12, % Bulletproof Vest Grant 1,000 7,270 5, % Federal Grants - 69, % Interest Income 1,200 2,129 1, % Sale of Equipment - 14,998 10,000 10, % Interfund Transfers In 400, , ,000 50, % Total 546, , ,700 73, % I.T. 120, , , % Public Buildings 123, , , % Parks , % Public Works 262, , , % Police 114,240 89,160 97, % Fire 232, , , % Total 853, ,582 1,059, % Net Surplus (Deficit) (306,808) (213,347) (298,124) 73,455 Beginning Fund Balance 765, ,765 Ending Fund Balance 551, ,220 YTD Page 4 of 13

7 Capital Projects Fund State Grants 92, % Federal Grants 517, , , % Reimbursements 36, % Interest Income 9,000 43,305 12,975 1, % Miscellaneous Income % Transfers In 180, , , , % (1) Total 834, , , , % Engineering and Professional 2,205, ,509 1,778, % Construction 1,719,416 1,291,767 3,646, % ROW Acquisition 773, , ,125 18, % Total 4,698,578 2,129,565 6,382,350 18, % Net Surplus (Deficit) (3,863,801) (1,593,420) (6,029,375) 83,828 Beginning Fund Balance 8,680,087 7,086,667 Ending Fund Balance 7,086,667 7,170,495 (1) Keith Andres IEPA 319 Matching/paid from Video Gaming YTD Page 5 of 13

8 Escrow Fund YTD Interest Income % Total % Public Works % Transfer to Capital Projects 180, , % 180, , % Net Surplus (Deficit) (179,900) (179,755) Beginning Fund Balance 210,040 30,285 Ending Fund Balance 30,285 30,295 Debt Service Fund Property Tax 2,111,014 2,124,715 1,900, % (1) Local MFT 200, , , % (2) Impound Fees 10,000 42,500 15,000 3, % Interest Rebate 287, , , % Interest Income 1,000 6,331 5, % Bond Proceeds - 4,674, % Transfers In 635, , , % Total 3,245,710 8,108,824 3,043,198 4, % Principal 1,445,040 1,445,040 1,373, % (3) Interest 1,589,680 1,496,481 1,148, % (3) Issuance Costs - 36, % Agent Fees 3,000 6,124 3, % Payment to Escrow Agent - 4,728, % Transfer to General Fund 200, % 3,237,720 7,713,014 2,525, % Net Surplus (Deficit) 7, , ,717 4,360 Beginning Fund Balance 679,859 1,075,670 Ending Fund Balance 1,075,670 1,080,029 (1) The first property tax distributions will occur in May (2) Payments are received quarterly. The payment for 1st Quarter will be in April. (3) Debt service payments are made in June, and December YTD Page 6 of 13

9 Strengthening Families Fund YTD Contributions 13,334 24,445 26,667 2, % Interest % Total 13,344 24,469 26,693 2, % Strengthening Families 14,537 12,511 15, % Net Surplus (Deficit) (1,193) 11,958 11,531 1,797 Beginning Fund Balance 74,905 86,863 Ending Fund Balance 86,863 88,660 Veteran's Garden Fund Contributions % Interest % Total 62 1, % Community Development , % Transfers , % , % Net Surplus (Deficit) (51,906) 1 Beginning Fund Balance 51,316 51,890 Ending Fund Balance 51,890 51,891 YTD Page 7 of 13

10 Motor Fuel Tax Fund MFT Allotments 900, , ,000 86, % MFT High Growth 40,000 43,480 40, % Federal Grants 200, , % Interest Income 1,500 2,611 2, % Interfund Transfer In 500, , % Total 1,641,500 1,642, ,440 86, % Public Works 635, , , % Capital Outlay 700, , , % Transfer 376, , , % Total 1,711,950 1,376,387 1,056, % Net Surplus (Deficit) (70,450) 266,394 (74,010) 86,668 Beginning Fund Balance 554, ,932 Ending Fund Balance 820, ,600 YTD Page 8 of 13

11 SSA #1 Newport Cove YTD Property Tax 13,700 13,658 35, % (1) Public Works 20,000 31,853 18, % Net Surplus (Deficit) (6,300) (18,195) 16,600 - Beginning Fund Balance 12,967 (5,228) Ending Fund Balance (5,228) (5,228) SSA #2 Oak Meadows YTD Property Tax 1,000 1,037 1, % (1) Public Works 1, , % Net Surplus (Deficit) Beginning Fund Balance 2,417 2,704 Ending Fund Balance 2,704 2,704 Page 9 of 13

12 SSA #3 Keele Farms YTD Property Tax 5,000 4, % (1) Public Works 7,000 4,380 20, % Net Surplus (Deficit) (2,000) 566 (20,000) - Beginning Fund Balance 38,883 39,449 Ending Fund Balance 39,449 39,449 SSA #21 White Oaks YTD Property Tax 4,500 4,494 4, % (1) Public Works 3,500 7,764 10, % Net Surplus (Deficit) 1,000 (3,269) (5,500) - Beginning Fund Balance 12,310 9,041 Ending Fund Balance 9,041 9,041 (1) The first property tax distributions will occur in May Page 10 of 13

13 TIF #1 Spring Hill YTD Property Tax 550, , , % (1) Interest Income 3,000 4,635 1, % Total 553, , , % Community Development 118,200 12,182 2, % Capital Outlay , % Transfer to General Fund 23,280 11,551 16, % Transfer to TIF#5 1,600,000 3,300,000 2,187, % Total 1,741,480 3,323,733 2,361, % Net Surplus (Deficit) (1,188,480) (2,698,334) (1,759,976) 172 Beginning Fund Balance 2,966, ,517 Ending Fund Balance 268, ,689 Property Tax 20, , , % (1) Community Development 19,363 4,316,403 1, % Capital Outlay 463, ,579 30, % Transfer to General Fund 23,280 11,551 33, % Total 505,643 4,901,533 64, % Net Surplus (Deficit) (485,643) (4,751,770) 400,349 - Beginning Fund Balance (2,222,575) (6,974,345) Ending Fund Balance (6,974,345) (6,974,345) (1) The first property tax distributions will occur in May TIF #3 Route 25 YTD Page 11 of 13

14 TIF #4 Spring Hill Mall Rehab Property Tax % (1) Community Development , % Net Surplus (Deficit) - (566) (775) - Beginning Fund Balance - (566) Ending Fund Balance (566) (566) TIF #5 Route Old Town Interest Income - 3,901 2,400 1, % Reimbursement - 111, % Transfer from Veteran's Garden , % Transfer from TIF #1 1,600,000 3,300,000 2,187, % Transfer from Park Trust , % Total 1,600,000 3,415,525 2,248,800 1, % Community Development - 7,352 21, % Capital Outlay 1,534, ,746 2,714, % Transfer to General Fund - 34,654 33, % Total 1,534, ,752 2,768, % Net Surplus (Deficit) 66,000 2,830,773 (520,004) 1,611 Beginning Fund Balance - 2,830,773 Ending Fund Balance 2,830,773 2,832,384 YTD YTD Page 12 of 13

15 Insurance Fund YTD Employee Contributions 333, , ,042 28, % Cobra Reimbursement 360, , ,000 43, % PSEBA Reimbursement 3,895 4,286 4, % Reimbursement - General Fund 3,014,269 3,011,037 3,184, , % Reimbursement - W/S Fund 578, , ,986 48, % Transfer from General Fund - 300, % Total 4,289,778 4,514,471 4,433, , % Health Insurance Employee 3,080,571 3,067,212 3,252, , % Cobra 360, , ,000 25, % PSEBA 32,108 32,695 34,222 3, % Opt-out 14,000 14,067 8,000 2, % (1) Contractual Services 10,300 13,742 12, % Risk Management Insurance Claims 250, , , % Liability Insurance Premium 445, , , % Worker's Comp Premium 80,000 85,635 91, % Total 4,271,979 4,207,710 4,429, , % Net Surplus (Deficit) 17, ,761 3,986 96,477 Beginning Fund Balance 294, ,566 Ending Fund Balance 601, ,043 (1) Opt-out payments are made to employees on a quarterly basis. Page 13 of 13