Series 2012 Annual Budget Fiscal Year Ended December 31, 2016 Annual Budget Filed with EMMA Separately Debt Information Direct General Obligation Bond Debt General Obligation Bonded Debt Total General Obligation Bonds $ 86,820,000 Other Obligations Issue Maturity Principal Outstanding Illinois EPA Loan 2006 2025 $ 684,832 Illinois EPA Loan 2012 2032 $ 1,559,414 Promissory Note 2011 2016 $ 340 Promissory Note 2012 (2/2012) 2016 $ 10,624 Promissory Note 2012 (10/2012) 2017 $ 38,637 Total Other General Obligations $ 2,293,847 Source: Village FY 2015 Audited Financial Statements and Auditor support schedules. General Obligation Debt Limit The Village is a home rule municipality and, as such, has no general obligation debt limit, is not required to seek referandum approval for the issuance of Bonds, and has no statutory tax rate limitation for any purpose. The Village has used general obligation debt borrowings for a variety of purposes.
Schedule of Bonded Indebtedness Fiscal Year Ended December 31, Dated Amount Maturity Series 2014 Series 2015 Series 2006A Series2006B Series 2012 Series 2013C Total Bonded Indebtedness 9/15/2006 $16,650,000 5/2006 $26,000,000 11/29/2012 $25,000,000 Principal ($) Interest ($) Principal ($) Interest ($) Principal ($) Interest ($) Principal ($) Interest ($) Principal ($) Interest ($) Principal ($) Interest ($) Total Principal ($) Total Interest ($) Total P&I ($) Percentage Paid 2016 $ 510,000 543,405 455,000 643,888 - $ 1,508,089 $ 360,000 $ 179,865 $ - $ - $ - $ 191,600 $ 1,325,000 $ 3,066,846 $ 4,391,846 1.53% 2017 530,000 521,730 295,000 625,688 - $ 1,508,089 375,000 168,525 - $ 469,975 - $ 191,600 $ 1,200,000 $ 3,485,606 4,685,606 2.91% 2018 550,000 499,868 745,000 1,067,488 - $ 1,508,089 385,000 156,713 - $ 469,975 1,780,000 $ 427,400 $ 3,460,000 $ 4,129,532 7,589,532 6.89% 2019 575,000 477,180 1,155,000 1,037,688 - $ 1,508,089 395,000 144,585 - $ 469,975 1,440,000 374,000 $ 3,565,000 $ 4,011,516 7,576,516 11.00% 2020 600,000 453,030 1,205,000 991,488 - $ 1,508,089 410,000 132,143 1,055,000 $ 469,975 460,000 302,000 $ 3,730,000 $ 3,856,724 7,586,724 15.30% 2021 625,000 427,530 1,265,000 931,238 - $ 1,508,089 425,000 119,228 1,095,000 427,775 480,000 279,000 $ 3,890,000 $ 3,692,859 7,582,859 19.78% 2022 650,000 400,655 1,720,000 867,988 - $ 1,508,089 435,000 105,840-383,975 1,245,000 255,000 $ 4,050,000 $ 3,521,546 7,571,546 24.44% 2023 680,000 372,380 1,800,000 786,288 1,900,000 $ 1,508,089 450,000 92,138 300,000 383,975 520,000 192,750 $ 5,650,000 $ 3,335,619 8,985,619 30.95% 2024 710,000 342,800 1,885,000 700,788 2,015,000 1,396,464 465,000 77,963 305,000 370,475 545,000 166,750 $ 5,925,000 $ 3,055,239 8,980,239 37.77% 2025 740,000 311,560 2,395,000 620,675 2,130,000 1,278,083 480,000 63,315-356,750 575,000 139,500 $ 6,320,000 $ 2,769,883 9,089,883 45.05% 2026 775,000 279,000 2,505,000 518,888 2,260,000 1,152,945 495,000 48,195 455,000 356,750-110,750 $ 6,490,000 $ 2,466,528 8,956,528 52.53% 2027 810,000 244,125 2,620,000 412,425 2,390,000 1,020,170 510,000 32,603 470,000 334,000-110,750 $ 6,800,000 $ 2,154,073 8,954,073 60.36% 2028 845,000 207,675 3,200,000 294,525 2,530,000 879,758 525,000 16,538-310,500 1,085,000 110,750 $ 8,185,000 $ 1,819,745 10,004,745 69.79% 2029 880,000 169,650 3,345,000 150,525 2,685,000 724,163 - - 310,500 1,130,000 56,500 $ 8,040,000 $ 1,411,338 9,451,338 79.05% 2030 920,000 130,050 - - 2,850,000 559,035-1,970,000 310,500 $ 5,740,000 $ 999,585 6,739,585 85.66% 2031 965,000 88,650 - - 3,025,000 383,760-2,070,000 212,000 $ 6,060,000 $ 684,410 6,744,410 92.64% 2032 1,005,000 45,225 - - 3,215,000 197,723-2,170,000 108,500 $ 6,390,000 $ 351,448 6,741,448 100.00% 2033 $ - $ - - 2034 $ - $ - - Totals $ 12,370,000 $ 5,514,513 $ 24,590,000 $ 9,649,575 $ 25,000,000 $ 19,656,809 $ 5,710,000 $ 1,337,648 $ 9,890,000 $ 5,745,600 $ 9,260,000 $ 2,908,350 $ 86,820,000 $ 44,812,494 $ 131,632,494 12/2/2013 $6,400,000 11/25/2014 $9,890,000 9/2/2015 $9,260,000 Source: Village FY 2015 Audited Financial Statements and Auditor support schedules.
Series 2006B, 2006A FY 2015 Debt Statement Total Net Direct General Obligation Bonded Debt $ 86,820,000 Overlapping Indebtedness $ 31,653,345 Equalized Assessed Valuation (2014) $ 205,781,637 Estimated Full Valuation $ 617,351,085 2010 Census Population 19,071 Net Direct Debt Per Capita $ 4,552 Ratio of: Net Direct Debt to EAV 42.19% Net Direct Debt to Estimated Full Version 14.06% Series 2008, 2006B, 2006A, 2005B, 2005A FY 2011 Debt Statement Fiscal Year Ended December 31, 2011 Total Net Direct General Obligation Bonded Debt $ 58,125,000 Overlapping Indebtedness $ 37,947,067 Equalized Assessed Valuation (2010) $ 332,142,772 Estimated Full Valuation $ 996,438,280 2010 Census Population 19,071 Net Direct Debt Per Capita $ 3,048 Ratio of: Net Direct Debt to EAV 17.50% Net Direct Debt to Estimated Full Version 5.83% Illinois Property Valuations Current Property Valuation Valuation 2014 Estimated Market Value $ 617,351,085 2014 Equalized Assessed Value $ 205,781,637, 2006B, 2006A Equalized Assessed Value by Classification 2014 2013 2012 2011 2010 Residential $ 122,521,795 $ 133,826,275 $ 145,032,642 $ 162,153,440 $ 238,585,943 Commercial 20,825,705 22,816,067 26,635,482 29,252,375 1,573,287 Industrial 60,852,492 66,368,200 70,202,212 70,022,722 90,917,336 Railroad 1,578,645 1,502,933 1,298,997 1,218,193 1,066,206 Total $ 205,778,637 $ 224,513,475 $ 243,169,333 $ 262,646,730 $ 332,142,772 Percent Increase (decrease) -8.34% -7.67% -7.42% -20.92% 1.11% Source: Cook County Clerk's Office. Percentage increase for 2010 based on 2009 EAV of $328,504,078. Years 2011 and 2014 reassessment years. Larger Taxpayers 2014 Equalized Percentage of Total Village Taxpayer Type of Property Assessed Valuation Equalized Assessed Value 1 Washington Commons Industrial Park $ 11,938,568 5.80% 2 Ferrara Candy Bellwood Candy Warehouse & Distribution 3,265,569 1.59% 3 SBC Ameritech Commerical Improvements 2,794,001 1.36% 4 Borg Warner Corp Automotive Parts Distributor 2,663,296 1.29% 5 Nubani Sam Candy Warehouse & Distribution 1,902,374 0.92% 6 U Store It Commerical Improvements 1,885,815 0.92% 7 Realty Assocation Fund VII Real Estate 1,819,960 0.88% 8 Combined Metals LP Industrial 1,650,177 0.80% 9 HAP Grane Partners Commerical Improvements 1,627,182 0.79% 10 Douglas Press Inc Specialty Games Priniting 1,567,044 0.76% Total $ 31,113,986 15.12% Village's Total 2014 EAV $ 205,778,637 Source: Cook County Clerk's Office
Tax Levies, Collections and Tax Rates, 2006B, 2006A Tax Levies and Collections Percent of Collections to Date Current and Back Tax Year Tax Extension and Back Taxes Taxes Collected to Date 2014/15 $ 18,469,120 $ 17,319,968 93.78% 2013/14 $ 16,973,218 $ 15,687,358 92.42% 203 $ 16,985,378 $ 15,339,455 90.31% 2011/12 $ 16,972,232 $ 16,086,092 94.78% 2010/11 $ 17,058,853 $ 15,457,062 90.61%, 2006B, 2006A Tax Rates Per $100 of Equalized Assessed Valuation Tax Year Tax Year Tax Year Tax Year Tax Year Fund 2014 2013 2012 2011 2010 Corporate Fund $ 4.8202 $ 4.0050 $ 4.1911 $ 3.8272 $ 3.0112 Bonds and Interest 1.9481 2.2932 1.6408 1.5691 1.2383 Police Pension 0.6966 0.5879 0.5642 0.5535 0.4322 Fire Pension 0.4684 0.4199 0.3183 0.2891 0.2767 IMRF and Social Security 0.3145 0.2536 0.2706 0.2231 0.1770 Total Village Tax Rate $ 8.2478 $ 7.5596 $ 6.9850 $ 6.4620 $ 5.1354 Cook County 0.5680 0.5600 0.5310 0.4620 0.4230 Cook County Forest Preserve District 0.0690 0.0690 0.0630 0.0580 0.0510 Metropolitan Water Reclamation District 0.4300 0.4170 0.3700 0.3200 0.2740 Suburban T.B. Sanitarium 0.0000 0.0000 0.0000 0.0000 0.0000 Consolidated Elections 0.0000 0.0310 0.0000 0.0250 0.0000 Proviso Township 0.1060 0.1100 0.0950 0.0810 0.0620 General Assistance 0.0530 0.0520 0.0450 0.0380 0.0310 Proviso Mental Health District 0.1500 0.1500 0.1500 0.1450 0.1170 Des Plaines Valley Mosquito Abatement 0.0160 0.0160 0.0150 0.0140 0.0110 Village of Bellwood Library Fund 0.7960 0.5410 0.4940 0.4570 0.3360 School District No. 88 4.7590 4.3760 4.0360 3.6200 2.9300 Proviso Twp High School District No. 209 2.9130 2.7220 2.5180 2.2630 1.8130 Triton Community College District No. 504 0.3360 0.3250 0.2690 0.2670 0.2250 Memorial Park District 0.6100 0.5600 0.5080 0.4130 Total Representative Tax Rate $ 18.4438 $ 17.5386 $ 16.1310 $ 14.7200 $ 11.8214
The Village Summary General Fund Information, 2006B, 2006A General Fund Statement of Revenues, Expenditures and Changes in Fund Balance Fiscal Year Ended December 31, 2015 2014 2013 2012 2011 Revenues: Property Taxes $ 11,506,318 $ 10,461,824 $ 11,126,262 $ 11,982,783 $ 11,365,997 Local Taxes 3,864,759 4,042,123 3,741,630 3,671,270 3,667,062 Intergovernmental Revenues 2,619,714 2,524,062 2,411,514 2,258,667 2,079,773 Licenses, Permits and Fees 968,360 943,395 909,083 778,330 839,288 Fines and Traffic Violations 2,146,063 2,094,192 1,970,225 2,058,933 1,554,191 Charges for Services 2,163,158 2,158,846 1,899,890 1,628,353 297,556 Interest 22,091 49,162 (1,768) 14,670 76,010 Grants 182,003 Miscellaneous 1,454,551 925,222 758,217 752,459 966,229 Total Revenues $ 24,745,014 $ 23,198,826 $ 22,815,053 $ 23,145,465 $ 21,028,109 Expenditures: Current Operating: General Government $ 7,812,753 $ 8,179,533 $ 7,726,667 $ 7,015,073 $ 8,288,082 Public Safety Police 6,328,864 6,412,959 6,761,191 6,751,997 6,907,191 Public Safety Fire 3,414,336 3,171,533 3,074,801 3,047,198 3,122,887 Other Public Safety 703,157 712,316 496,383 476,516 488,273 Highways and Streets 1,480,781 1,467,076 1,383,974 1,346,662 1,246,778 Garbage Disposal 1,262,601 1,220,959 1,161,255 1,144,891 Welfare and Civil Defense 361,111 335,746 379,640 312,005 53,451 Debt Service 128,369 62,887 32,893 169,050 73,007 Total Expenditures $ 21,491,972 $ 21,563,009 $ 21,016,804 $ 20,263,392 $ 20,179,669 Revenues over (under) expenditures $ 3,253,042 $ 1,635,817 $ 1,798,249 $ 2,882,073 $ 848,440 Other Financial Sources/Uses Bonds/Loan Proceeds $ $ $ $ $ Capital Outlay Proceeds from capital lease 371,849 40,400 Proceeds from sale of capital assets 25,000 18,300 4,000 Transfers In (Out) (5,590,543) (490,150) (571,500) 2,427,581 (547,093) Excess of Revenues and other Finances Sources or (Expenditures and Uses) (2,312,501) 1,535,816 1,271,149 5,309,654 301,347 Fund Balance, Beginning 8,323,191 6,787,375 5,516,226 206,572 (94,775) Fund Balance Ending $ 6,010,690 $ 8,323,191 $ 6,787,375 $ 5,516,226 $ 206,572 General Fund Balance Sheet Fiscal Year Ended December 31, 2015 2014 2013 2012 2011 Assets: Cash and investments receivables, net of allowance $ 2,031,934 $ $ 742,661 $ 1,700,410 $ 4,723,666 Accounts Receivable 193,144 192,255 205,368 210,356 Property taxes 12,433,309 11,768,315 10,834,743 11,941,909 11,917,113 Intergovernmental 1,007,812 1,011,655 975,921 1,123,765 1,251,922 Deposits 78,731 118,000 80,922 45,789 8,536 Interest 1,152 980 218 1,427 3,652 Other 303,069 296,405 187,533 215,213 137,011 Inventories 8,503 4,330 8,222 6,924 2,566 Prepaids 311,900 389,935 11,877 287,323 138,102 Advances to other funds 2,853,238 7,588,143 5,310,699 2,534,776 20,121 Total Assets $ 19,222,792 $ 21,370,018 $ 18,358,164 $ 18,067,892 $ 18,202,689 Liabilities: Accounts payable $ 353,158 $ 451,098 $ 542,119 $ 515,718 $ 561,683 Accrued payroll 658,646 272,424 266,943 201,666 181,189 Other payables 311,799 230,000 5,159 7,566 25,511 Advances from other funds 139,084 5,471,845 Deferred revenue 11,749,415 11,749,920 10,732,264 11,781,174 11,687,921 Due to other governments 15,863 7,437 7,279 9,011 Due to fiduciary funds 327,522 16,867 38,263 58,957 Total Liabilities $ 13,212,102 $ 13,046,827 $ 11,570,789 $ 12,551,666 $ 17,996,117 Fund Balances: Nonspendable Inventories $ 8,503 $ 4,330 $ 8,222 $ 6,924 $ 2,566 Prepaids 311,900 389,935 11,877 287,323 138,102 Interfunds Economic development Advances 2,853,238 7,588,143 5,310,699 2,534,776 20,121 Unassigned 2,837,049 340,783 1,456,577 2,687,203 45,783 Total fund balances $ 6,010,690 $ 8,323,191 $ 6,787,375 $ 5,516,226 $ 206,572 Total Liabilities and Fund Balances $ 19,222,792 $ 21,370,018 $ 18,358,164 $ 18,067,892 $ 18,202,689
General Fund Current Year Budget Budget Revenues: Year Ending Dec. 31, 2016 Local Taxes $ 15,211,704 State Taxes 2,495,000 Licenses and Permits 828,425 Fees and Fines 3,946,638 Charges for Services Intergovernmental 41,423 Investment Income 25,000 Lease of Village Property 20,000 Other 1,569,190 Total Revenues $ 24,137,380 Expenditures: Personnel $ 11,144,321 Contractual 8,937,633 Supplies 501,269 Capital and Equipment 151,250 Transfers Out 935,624 Other 2,421,253 Total Expenditures $ 24,091,350 Revenues and other sources over/(under) expenditures $ 46,030