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rviffaSE of HOMER GLEN Village of Homer Glen, Illinois Comprehensive Annual Financial Report Audit Report For the Fiscal Year Ending April 30, 2012

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Page 1: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

rviffaSE ofHOMERGLEN

Village of Homer Glen, Illinois

Comprehensive Annual Financial Report

Audit Report

For the Fiscal Year Ending April 30, 2012

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VILLAGE OF HOMER GLEN,ILLINOIS

COMPREHENSI VEANNUAL FINANCIAL REPORTYEAR ENDED APRIL 30, 2012

PREPARED BY:FINANCE DEPARTMENT

JOHN SAWYERSVILLAGE TREASURLR

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VILL GF: OF HOMER GLEN, ILLINOISCOMP"REHENSIVE ANNUAL FINANCIAL REPORT

YEAR ENDED APRIL 30,2012

CONTENTS

INTRODUCTORY SECTION:

Letter of Transmittal

GrOA Certificate of Achievement

Names and Titles of Principal Officials

The Vi llagc of Homer G len, Illinois Organization Chart

FlNANCIAL SECTION:

Independcnt Auditor's Report

Management's Discussion and Analysis

Basic Financial Statements:

Government-wide Financial Statements:

Statement ofNct Assets

Statement of Activities

Fund Financial Statements:

Balance Sheet - Governmental Funds

Reconciliation of Total Governmental Fund Balance to Net Assets ofGovernmental Activities

Statement of Revenues, Expenditures and Changes 1ll fund Balances -Governmental Funds

Reconciliation of the Statement of Revenues, Expenditures and Changes inFund Balances of Governmental Funds to the Statement of Activities

Vif

Vlli

IX

x -XI

XII- XIX

2

3 - 4

5

6-7

8

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VILLAGE OF HOI\'1ER GLEN, ILLINOISCOMPREHENSIVE ANNUAL FINANCIAL REPORT

YEAR ENDED APRIL 30, 2012

CONTENTS

Statements of Revenues, Expenditures and Changes III Fund Balances -Budget and Actual (l\'on-GAAP Budgetary Basis):

General Fund

Motor Fuel Tax Fund 12 - 13

Park Fund 14 - 15

Statement of Fiduciary Assets and Liabilities - Agency Fund - RevolvingEscrow Fund 16

Notes to Basic Financial Statements 17 - 28

Required Supplementary Information:

Schedule of Analysis of Funding Progress -Illinois Municipal Retirement Fund 29 - 30

Supplementary Information;

Capital Projects Fund:

Schedule of Revenues, Expend iturcs and Changes in Fund Balances - Budgetand Actual (Non-GAAP Budgetary Basis) 31 - 32

Agency Fund:

Revolving Escrow Fund:

S taternent of C han ges in Assets and Liab iIit ies 33

STATISTICAL SECTION:

Net Assets by Component 34

Change in Net Assets 35 - 36

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VILL GE OF 1I0l\lER GLEN, ILLINOISCOMPREHENSIVE ANNUAL FINANCIAL REPORT

YEAR ENDED APRIL 30, 2012

CONTENTS

Fund Balances of Governmental Funds 37

Changes in Fund Balances of Governmental Funds 38Intergovernmental Revenues by Source 39

Governmental Own-Source Revenues 40

Direct and Overlapping Bonded Debt 41

Demographic and Economic Information 42Full-time Equivalent Employees 43

Capital Asset Statistics 44

Operating Indicators by Function 45

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INTRODUCTORY SECTION

Page 7: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

Qh[[a9£ of

HOMERGLEN

14933 S. Founders CrossingHomer Glen, Illinois 60491

Phone (708) 301-0632Fax (70S) 301-S407

Community wId c!Valuu ... in dtaunony

October 1912012

Dear Residents of the Village of Homer Glen, the Honorable Mayor James Daley and theVillage Board of Trustees:

We are happy to provide you with the Comprehensive Annual Financial Report (CAFR) for theVillage of Homer Glen. This Comprehensive Annual Financial Report covers all aspects ofVillage finances. The remainder of this letter of transmittal is divided into various sectionsdiscussing different aspects of the Village of Homer Glen's financial performance.

:finance Reporting AwaraThe Government Finance Officer's Association of the United States and Canada (GFOA)awarded a "Certificate of Achievement for Excellence in Financial Reporting" to the Village ofHomer Glen for its comprehensive annual financial report for the fiscal year ending April 30,2011. This was the tenth consecutive year that the Village of Homer Glen has achieved thisprestigious award. In order to be awarded a Certificate of Achievement, a government mustpublish an easily readable and efficiently organized comprehensive annual financial report. Thisreport must satisfy both generally accepted accounting principals and applicable legalrequiremen is.

A Certificate of Achievement is valid for a period of one year. We believe that our currentcomprehensive annual financial report meets the Certificate of Achievement Program'srequirements and we are submitting it to the GFOA to determine its eligibility for anotherccrt iiicate award.

IntroductionManagement Responsibility for Financial InformationThis CAFR covers the fiscal year May 1, 20 II to April 30, 2012. The Village believes that thedata. as presented, is accurate in all material respects. Responsibility for the accuracy andcompleteness of this data rests with the Village.

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The management of the Village of Homer Glen is responsible for maintaining accurate financialrecords in order to ensure efficiency and thc accountability of public funds. The accounts of theVillage of Homer Glen arc both organized and operated on the basis of funds. A fund is anindependent fiscal and accounting entity with a self-balancing set of accounts. fund accountingsegregates funds according to their intended purpose and is used to aid management inaccounting for resources. The Village maintains a minimum number of funds to account for itsoperations. At this time the Village utilizes only governmental funds, which include the GeneralFund, Motor fuel Tax Fund, Park Fund and Capital Projects Fund. The Village also maintainsan Agency Fund to account for funds held in escrow for professional fees incurred in connectionwith development. A more detailed explanation of the funds utilized is available in the financialsection of the CArR report.

In order to ensure the accuracy of its financial position the Village engages an independentauditor to examine the Village s financial statements. The Village has received an unqualifiedopinion from the independent audit firm of Mulcahy, Pauritsch, Salvador, Ltd., verifying theaccuracy of the Village's financial statements for the fiscal year.

'Economic Condition anaOutiook

Overview of Local EconomyThe Village of Homer Glen is one of Illinois' newest municipalities. By referendum vote, theVillage was incorporated on April 17.2001. It had a population of 25,069 as of October 31,2008 and therefore functions as a Home Rule community. The official 20 10 Decennial Censusfigures were certified on March 3, 2011 indicating a population of 24,220. The Village coversan area of approximately 22 square miles. Homer Glen is a residential community withsignificant amounts of open space and farmland.

The Village has commercial areas that generate a significant amount of sales tax revenue. Theexistence of sales tax revenue currently helps the Village operate without levying eithermunicipal property or utility taxes. The Village officially adopted a Comprehensive Plan in early2005 to help define and manage future growth.

Information Regarding Major Industries Affecting the Local EconomyThere is no one significant employer of Village residents located within the Village of HomerGlen. There are several senior care and residential facilities, educational facilities, commercialstores and governmental offices that employ significant numbers of individuals. Sales texreceipts, from commercial retail establishments, are the most important contributor to the Villageorganization's revenue stream. The completion of the 1-355 tollway extension, through WillCounty, will be spurring additional commercial development in the community, especially along1591h Street.

Future Economic OutlookThe Village of Homer Glen has shown an upward trend in growth, increasing from an estimatedpopulation of 22,269 (2000 census) to 24,083 (2004 special census) and then an increase to25,069 (2008 special census). The 25.000 population threshold certified the Village as a homerule community. The recent 2010 Decennial Census shows a slight decline in population to

II

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24.220. Consequently, the residents will be asked to consider a referendum in 2012 to re-committo the Village's home rule status.

Homer Glen is located almost wholly in Homer Township and constitutes a majority of theTownship's area and population. A 2004 annexation extended the Village's southeast boundaryinto New Lenox Township. Horner Township ligures indicate a growth of 35% over the past 10years. Other census Ligures for Homer Township show a significant growth in income and homevalues, (See Fig, 1)

'lg,

Median I-Iouschold Incomc Median Value OwnerOccupied Housing

1999 2010 1999 2010Homer Township S79.793 $103,603 S217,800 $356,000will County S62,238 $85,488 S154,300 $240.500

There arc over 5,000 acres of land in the Village of Homer Glen that are currently being farmed.For the most part, this acreage is owned by developers or investors. This leaves an incrediblepotential for growth that must be managed carefully. The Village has enacted construction andcommercial development ordinances to help preserve the Village's character, along with recentupdates to the Village's zoning ordinance. Fire codes have been unified throughout the Village.Another ordinance established exterior construction standards for residential and commercialstructures requiring first floor masonry. In 2006, the Village Board approved a ConservationDesign Ordinance for new residential development that will require between 20-50% of the landto be reserved for open space and help preserve environmentally sensitive areas.

Major Initiatives

Current Planning and Capital ProjectsSeveral initiati ves were successfully implemented III f.Y 11-12. Those initiatives arc J istcdbelow,

• Negotiated & obtained a lease agreement with ComEd for the construction of the firstphase 0f the Heroes T rai I mult i-usc path.

• Completed construction 0 r the Iirst phase of the Heroes Trail.• Continue final design/development or the Oak Valley Drainage Project, Phase II,

including the acquisition of casement,• Continue final design of the Mcadowcrest Drainage Project.• Completed the first phase or the 151~l Street & Bell Road Landscape project.• Completed Phase II of the Fiddyment Creek Sanitary Sewer project.• Met with Village officials, lOOT & 1591b Street Business Group representatives to

discuss the future 1591h Street Improvements,• Worked with County officials to facilitate future 143nl Street Improvements.• Worked with developers to complete and accept the public improvements 111 three

subdivisions within the Village.

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Page 10: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

• Applied for and was awarded an infrastructure grant from DCEO for storm sewerimprovement projects in the Village.

• Participated in the 1-355 Corridor Consortium which continues to meet to discussplanning and development activities within the corridor. Homer Glen is an activepartner in this group along with Lemont, New Lenox, Lockport and Will County.

• Developed a welcome packet for businesses looking to open, relocate or expand inHomer Glen.

• Revised the Village's Zoning Ordinance in order to add two (2) new zoning districtsand to ensure the ordinance remains current.

• Created a comprehensive Iisting of available sites and properties located within theVillage for use on the Village's Business Connect website.

• Purchased an additional .47 acre lot in Erin Hills Unit 4D to add to the existing parksite in the subdivision.

• Worked with the communities of Bolingbrook, Lemont, Woodridge anel Romeoville onthe certain formation of the Northern Will County Water Agency in an effort topurchase and, in the future, operate the Bedford Park Water Transmission Line.

Street Resurfacing ProgramThe Vi llage of Homer Glen completed a significant street resurface program during the 20 11~2012 construction year. The annual resurfacing program covered 4.66 miles of the Village'sroads this year. The Village ronds resurfaced with Village money this year included thefollowi ng:

• 15151 Street - 1,325' West. of Will Cook Road to Will Cook Road• Spaniel Dri ve - 16ih Street to End.• Beaver Lake Drive - Lost Boy Lane to Bell Road.• Wcdgewood Drive - Hadley Road to Deer Path Drive.• Deer Path Drive - 250' North of Wedge wood Drive to End.• Burr Oak Road - Bentwood Drive to Wedgewood Drive.• Bentwood Drive - Burr Oak Road to Dccrpath Drive.• Shellbark Drive - Burr Oak Road to Dccrpath Drive.• Thorn Apple Drive - ISO' West of Burr Oak Drive to Deerpath Drive.• Comandra Circle - Wedgewood Drive to End.• Meadowview Lane - 1SO' West of Trailside Drive to Bell Road.• Trailside Drive - Bramble Court to End.• Woodland Drive - Weather Vane Lane to Bell Road.• Arrow Court - Trailside Drive to End.• Buttercup Court - Trailside Drive to End.• Meadowlark Court - Trailside Drive to End.• Mulberry Court - Woodland Drive to End.• Finch Court - Trailside Drive to End.• Morning Glory Court - Trailside Drive to End.• Sage Court - Trailside Drive to End.• Sparrow Court - Trailside Drive to End.• Spring Court - Trailside Drive to End.• Thistle Court - Trailside Drive to End.

IV

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:financia{ InformationInternal Control Framework and Budgetary ControlsIn developing and evaluating the Village's accounting system, consideration is given to theadequacy of internal accounting controls. Internal accounting controls are designed to providereasonable, but not absolute, assurance regarding: the safeguarding of assets against loss fromunauthorized use or disposition; the reliability of financial records for preparing financialstatements and maintaining accountability for assets; and the promoting of operationalefficiency.

The concept of reasonable assurance recognizes that the costs of internal control should notexceed the benefits likely to be desired and that the evaluation of cost and benefits requiresjudgements by management. All internal control evaluations take place within the aboveframework. The relationship of internal control to basic management responsibilities emphasizesthe relationship of the accounting system with all other management control systems. I believethat the Village's internal accounting controls adequately safeguard assets and providereasonable assurance of proper recording 0 f all financial transactions.

I3udgetary control is maintained through an annual budget passed by the Village of HomerGlen's Village Board. The FY 2012-13 budget is balanced and is based 011 actual expectedreceipts for the year plus any unexpended surplus from prior years. The Village may transferbudgeted amounts between departments within a fund. The budget is appropriately controlledthrough a computerized accounting system to assure effective fiscal management andaccountability.

Financial reports, which compare actual to-date performance with the approved budget, arcprepared monthly and presented to the Mayor. Village Board, Treasurer and Village Manager.In this manner, the Village is able to review the financial status of the various activities andfunds on a monthly basis and determine the cffccti veness of budgetary controls.

Other InformationIndependent AuditThe Village of Homer Glen is required by state law to be audited annually by an independentcertified public accountant. The Village Board has selected Mulcahy, Pauritsch, Salvador andCo., Inc. for this task.

For the Fiscal Year Ending April 30 2012, the Village has received an unqualified opinion fromthe independent auditor, meaning the auditor has determined that the financial statements or theVillage arc an accurate representation of the Village's financial position.

For additional financial highlights see management discussion and analysis contained 111 theCAFR, directly behind the independent auditor's report.

V

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AcknowledgementsThe preparation of the Village ofl-Iomer Glen's comprehensive annual financial report was madepossible by the cooperative efforts of the Village's administrative staff. In addition, we wouldalso like to thank our accounting firm, Mulcahy, Pauritsch, Salvador, and Co. Inc., for theirguidance to the Village through this process.

Respectfully submitted,

~Cameron Davis,Village Manager

VI

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Certificate ofAchievementfor Excellencein FinancialReporting

Presented to

Village of Homer GlenIllinois

For II:;Comprehensive AnnualFinancial Report

for the Fiscal Year EndedApril 30, 2011

A Ccrti ficatc Q f Achievement for Excellence in FinancialReporting is presented by the Government Finance Officers

Association of'the Unilcd Slates and Canada 10government units and public employee retirementsystems whose comprehensive annual financial

reports (CAFIL~) achieve the higheststandards in government accounting

and financial reporting.

President

Executive Director

Vll

Page 14: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

VILLAGE OF HOMER GLI<:N, ILLINOIS

NANtES AND TITLES OF PRINCIPAL OFFICIALS

APRIL 30,2012

LEGISLA TIVE

VILLAGE PRESIDENT

James P. Daley

TRUSTEES

Michael Costa

Russell Knaack

Mary Niemiec

Margaret Sabo

Laurel Ward

George Yukich

***

Gale Skrobuton

Village Clerk

John Sawyers

Village Treasurer

VIII

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Village of Horner GI'en Organizational Chart

Citizens of the Village of Homer Glen

Administration Economic DevelopmentBuilding Department Development services

DepartmentDepartment Department

x

Assistant to theChief Building village Manager-Official] (1) Admin. (1)

txrector (1) Director (I)

Assistant to theManager-Planning &Zoning (1)

DeputyClerk/Office Mange'

(1)

Department Recepttonist/

Admlnlstratlve Account Clerk

Assistant (1) (1)

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FINANCIAL SECTION

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~s MULCAHY, PAURITSCH,SAI\/ADOR,,,uo

Cetlif:ecJ PubiICAccoun/OMliBu.lJ'n8SS on(l PeISOl'lOI CO11suiion Is

To thc Honorahlc Village President and Board of TrusteesVi Ilage of Homer G len, IllinoisHomer G len, III inois

INDEPENDENT AUDITOR'S REPORT

We have audited the accompanying financial statements of tile governmental acuviiics. each major fund,and the fiduciary fund of the Village of Homer Glen, Hlinois as of and for the year ended April 30,2012,which collectively comprise the Village's basic financial statements as listed ill the table of contents.These fi nancia I statements arc the responsibi Iity of the Vi llage's management. Our responsibi lity is toexpress opinions on these finane ial statements based on our audit. The prior year summarized comparativeinformation has been derived from the Vi llage's 20 II finunc in I statements and, in our report dilled October10, 2011, we expressed unqual ified opinions on the respective f nancial statements of the governmentalactivities. each major fund, and the fiduciary fund.

We conducted our audit in accordance with auditing standards generally accepted in the United States ofAmerica. Those standards require that we plan and perform the audit to obtain reasonable assurance aboutwhether the financial statements arc free of material misstatement. An audit inc ludes exam ining, on a testbas is, ev id c nce 51l p port in g the a mou n ts and disclosures in the fi na IlC ial sta tem ell ts. A l\ a ud ita 1so inclu desassessing the accounting princ ipies used lind sign ifieant est imates made by management, as well asevaluating the overall financial statement presentation. We believe that our audit provides a reasonablebasis for our opin ions.

In our opinion, the financial statements referred to abov present fairly, in all material respects, therespective financial position of the governmental activities, each major fund, and the fiduciary fund of theVillage of Homer Glen, Illinois as of Apri I 30, 2012, and the respective changes in financial positionthereof and the budgetary comparisons for the General Fund, Motor Fuel Tax Fund, and Park Fund for theyear then ended in conformity with accounting principles generally accepted in the United States ofAmerica.

Accounting principles generally accepted in the United States of A merica require that the management'sdiscussion and analysis and schedule of funding progress 011 pages XII through XIX and 29 and 30 bepresented to supplement the basic financial statements. Such information, although not a part of the basicfinancial statements, is required by the Governmental Accounting Standards Board, who considers it to bean essential part of financial reporting for placing the basic financial statements ill an appropriateoperational, cconom ic, or historica I context. We have applied certain Iim ited procedures to the requ Iredsupplementary information in accordance with auditing standards generally accepted in the United Statesof America, which consisted of inquiries of management about the methods of preparing the Informationand comparing the information for consistency with management's responses to our inquiries, the basicfinancial statements, and other knowledge we obtained during our audit of the bas ic financial statements.We do not express an opinion or provide any assurance on the information because the limited proceduresdo not provide us with suffic ient evidence to express an opinion or provide any assurance.

x1..\300 Ra vinia A ve .. S 1I ue 200 • Orland Park, I L. 60..\62 • 7081J49-6999 • Fax 708/349-6639

40 I S. Lasalle 51. • S uite 606 • Chicago, IL 60605 • 3 t 2J786-5979 • Fax 708/3..\9.66397500 S. County L inc Rd .• Burr Ridge. IL 60527 • 630/887 -7838 • Fax 6301887-7895

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Our audit was conducted for the purpose of forming opinions on the financial statements that collectivelycomprise the financial statements of the Village of Homer Glen, Illinois as a whole. The introductorysection, supplementary information, and statistical section are presented for purposes of additional analysisand arc not a required part of the financial statements, The supplementary information is the responsibil ityof management and was derived from and relates directly 10 the underlying accounting and other recordsused to prepare the financial statements, The information has been subjected to the auditing proceduresapplied in the aud it of the financial statements and certain additional procedures, including comparing andreconci ling such information directly to the underlying accounting and other records used to prepare thefinancial statements or to the financial statements themselves, and other additional procedures inaccordance with auditing standards generally accepted in the United States of America. In our opinion, theinformation is fairly stated in all material respects in relation to the financial statements as a whole. Theintroductory and statistical sections have not been subjected to the auditing procedures applied in the auditof the basic financial statements and, accordingly, we do not express an opinion or provide any assuranceon them.

Orland Park, IllinoisOctober 19, 2012

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MANAGEMENTtS DISCUSSION AND ANALYSIS (Unaudited)

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Village of Horner Glen IllinoisManagement's Discussion lind Analysis (Unaudited)April 30, 2012

As management of the Village of Homer Glen, we offer readers of the Village of Horner Glcnsfinancial statements this narrative overview and analysis of the financial activities of the Village ofHomer Glen for the fiscal year ended April 30,2012.

Financial Highlights·The assets ofthc Village of Horner Glen exceeded its liabilities per the Statement of Net Assets asof April 30, 2012 by $37,144,246 (net assets). Of this amount, $1,701 009 was restricted forhighways and streets, and $]24,014 was restricted for parks.

·As of April 30,2012, the Village of Horner Glen's Governmental Funds Balance Sheet reported acombined ending fund balance of $13,203,842.

•Fa r the fiscal year ending Apri I 30 2012, the Statement or Ac tivities change in net assets was$2,740,815.

·The Village of Homer Glen has entered into a note payable with the Illinois State HighwayAuthority for the construction of entrance and exit ramps on the south extension of Interstate 355.Total debt with regards to this agreement at April 30, 2012 was $1,250,000.

Overview of the Financial StatementsThis discussion and analysis is intended to serve as an introduction to the Village of Homer Glen'sbasic financial statements. These basic financial statements are comprised of three components: I)government-wide financial statements, 2) fund financial statements, and 3) notes to the financialstatements. This report also contains other supplementary information in addition to the basicfinancial statements themselves.

Government-wide Financial Statements. The government-wide financial statements are designedto provide readers with a broad overview of the Village of Homer Glen's finances, in a mannersimilar to a private-sector business. The statement of net assets presents information on all of theVillage of Homer Glen's assets and liabilities, with the difference between the two reported as netassets. Over time, increases or decreases in net assets may serve as a useful indicator of whether thefinancial position of the Village of Homer Glen is improving or deteriorating. The statement ofactivities presents information showing how the government's net assets changed during the mostrecent fiscal year. All changes in net assets are reported as soon as the underlying event giving riseto the change occurs, regardless of the timing of related cash flows. Thus, revenues and expensesare reported in this statement for some items that will only result in cash flows in future fiscalperiods (e.g., uncollected taxes and earned, unused vacation and sick leave). Both of the

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Village of Homer Glen, IllinoisManagement's Discussion and Analysis (Unaudited)April 30, 2012

uovernment-wide financial statements distinuuish functions of the Villaue of Homer Glen that aree __

principally supported by taxes and intergovernmental revenues (governmental activities) from otherfunctions that are intended to recover all or a signi ficant portion of their costs through user fees andcharges (business-type activities). The governmental activities or the Village of Homer Gleninclude general govenunent, public safety building. highways and streets, and culture andrecreation.

The Village of Homer Glen has no business-type activities because sewer and water services areprovided by a privately owned utility company.

The government-wide financial statements include only the activities of the Village of Homer Glen.The Village has no component units.

The government-wide financial statements can be found on pages 1-2 of this report.

Fund Financial Statements. A fund is a grouping of related accounts that is used to maintaincontrol over resources that have been segregated for specific activities or objectives. The Village ofHomer Glen, like other state and local governments, uses fund accounting to ensure anddemonstrate compliance with finance-related legal requirements.

All of the funds of the Village of Homer Glen can be categorized as governmental funds.

Governmental Funds. Governmental funds are used to account for essentially the same functionsreported as governmental activities in the government-wide financial statements. However, unlikethe government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resourcesavailable at the end of the fiscal year- Such information may be useful in evaluating a government'snear-term financing requirements. Because the focus of governmental funds is narrower than thatof the government-wide financial statements, it is useful to compare the information presented forgovernmental funds with similar information presented for governmental activities in thegovernment-wide financial statements. By doing so, readers may better understand the long-termimpact of the government's near-term financing decisions. Both the governmental fund balancesheet and the governmental fund statement of revenues, expenditures, and changes in fund balancesprovide a reconciliation to facilitate this comparison between governmentalfunds and governmentalactivities.

The Village of Homer Glen maintains four individual governmental funds. The governmental fundsare considered to be major funds. There were no nonmajor governmental funds. Information ispresented separately in the Balance Sheet - Governmental Funds and in the Statement of Revenues,Expenditures, and Changes in Fund Balances - Governmental Funds. The basic governmental fundfinancial statements can be found on pages 3-16 of this report

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Village of Homer Glen, IllinoisManagement's Discussion and Analysis (Unaudited)April 30, 2012

Notes to the Financial Statements. The notes provide additional information that is essential to afull understanding of the data provided in the government-wide and fund financial statements. Thenotes to the financial statements can be found on pages 17-28 of this report.

Other Information. In addition to the basic financial statements and accompanying notes, requiredsupplementary information presents a schedule of funding progress of the Illinois MunicipalRetirement Fund requirement.

Government-wide Financial AnalysisAs noted earlier, net assets may serve over time as a useful indicator of a government's financialposition. In the case of the Village of Homer Glen, assets exceeded liabilities by $37,144,246 at theclose of the most recent fiscal year.

A large portion of the Village of Homer Glen's net assets reflects its investment in capital assets(c.g. roads received via contribution, equipment and vehicles). The Village of Homer Glen usesthese capital assets to provide services to citizens; consequently, these assets are 110/ available forfuture spending. The Village of Horner Glen investment in its capital assets, reported net of relateddebt, is not a spendable resource. At April 30, 2012, the Village of Homer Glen had no debt on itscapital assets.

VILLAGE OF HOMER GLEN'S NET ASSETSAPRIL 30, 2012 AND 2011

Govern menta IActivities

2012 2011

Cash and investmentsReceivablesOther assetsCapital assets

Total Assets

S 1\,785,613 $ 8,688,5632,218,873 2,052,814

278 27825,190,404 25,978,17039,195,168 36,550,795

1,250,000 1,350,000800,922 797364

2,050,922 2,147,364

Noncurren t Iiab iIiticsOther liabilities

Total liabilities

Nct assets:Invested in capital assets,

net of related debtRestrictedUn rcstri ctcd

Total net assets

25,190,404 25,978,1701,825,023 1,780,12210,128,819 6,645,139

$37,144,246 $ 34,403,43 I

XIV

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Village of Homer Glen, IllinoisManagement's Discussion and Analysis (Unaudited)April 30, 2012

This summary reflects a large net asset balance due primarily to the reporting of capital assets,including infrastructure assets that were reported as required by GASB 34.

Governmental Activities. The Village of Homer Glen's "net assets" at April 30, 2012 were$37,144,246, which was an increase of $2,740,815 from the prior year. The increase in "net assetsis the result of reporting a net operating surplus.

VILLAGE OF HOMER GLEN'S CHANGES IN NET ASSETSFOR THE YEARS END ING APRIL 30, 2012 AND 2011

GovernmentalActivities

20112012

RevenuesIntergovernmental

Motor fuel taxesState sales taxesState income taxesUse taxes

Licenses, Permits & FeesContributions and GrantsReimb urscmentsInvestment IncomeOther

Total revenues

$731,7425,776,1582,052,065353493813,89375,579

1,27040144,34349,045

$7596485,238,7341,940,015357,233835,38178,470

1,358,9236916114,089

11,166,719 10651,654

2018,581 2,260,5493 737,634 3496,309335,560 370,340

2,093,884 2,122~057240,245 .59,02§.

8,425,904 8,308,281

2,740,815 2,343,373

34,403,431 32,060,058

$37.144,246 $34403,431

ExpensesGeneral governmentPublic safetyBuildingHighways and streetsCulture and recreation

Total expenses

Cha 1ge in net assets

Net assets - beginning

Net assets - ending

xv

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Village of Homer Glen, IllinoisManagement's Discussion and Analysis (Unaudited)April 30, 2012

Revenues increased by $515,065 from the previous period. The increase was due primarily to theVillage receiving home rule status, therefore receiving more sales tax income.

Public safety activities accounts for approximately 44 percent of the total expenditures within thegovernmental funds of the Village of Homer Glen. The Village subcontracts its public safety to theWill County Sheriffs Department. The Village paid $3.445.816 for public safety to the WillCounty's Sheriffs Department for the fiscal year ending April 30.2012.

Highway and street activities account for approximately 25 percent of the total expenditures withinthe governmental funds of the Village of Homer Glen. The Village has an intergovernmentalagreement with the Homer Township Road District for maintenance of. the streets. Themaintenance cost for the year ended April 30 2012 was $1,267,803.

As shown by the following graphs and identified by the Statement of Activities on page 2. stateincome taxes and state sales taxes not restricted or applicable to specific programs provide themajor revenue sources for governmental activities.

Revenues by Source - Governmental Activities

Investment lncome 0A 0,'0

C ib Reimbursements [ I~%on tn unonsand Grants

0.1%

LOth~rl-0%.Motor Fuel Taxes 6.6%

Licenses. Permits "" Fe~s7.3%

XVI

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Village of Homer Glen, IllinoisManagement's Discussion and Analysis (Unaudited)April 30, 2012

Expenditures - Governmental Activities

Culture and Recreation2.9%

Building -l.O%

Public Safety -l4.-l%

Highways and Streets24.9%

__ General Government. 2-l.0%

Financial Analysis of the Government's FundsAs noted earlier, the Village of Homer Glen uses fund accounting to ensure and demonstratecamp Iiance with finance- reIated legal requirernents.

Governmental Funds. The locus of the Village of Homer Glen s governmentalfunds is to provideinformation on near-term inflows, outflows, and balances of spendable resources. Such informationis useful in assessing the Village of Homer Glen's financing requirements. In particular, unassignedfund balance may serve as a useful measure of a government' net resources available for spendingat the end of the fiscal year.

As of April 30, 2012, the Village of Homer Glen's governmental funds balance sheet reportedcombined ending fund balances of $13,203,842. The unassigned general fund balance at April 30,2012 was $5,692,440 which was an increase of $965,654 from the previous year. The increase infund balance was the result of the Village proactively reducing expenditures to match the decline inper capita taxes and decline in other revenues impacted by the economic down turn.

XVII

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Village of Homer Glen, IllinoisManagement's Discussion and Analysis (Unaudited)April 30,2012

The motor fuel tax fund balance at April 30,2012 was $1,701,009, which was restricted. This wasan increase of $300,895 from the previous year. The increase in fund balance resulted from adecline in capital expenditures.

The park fund balance at April 30, 2012 was $833,744, of which $124!0 14 was restricted and$709,730 was assigned. This was decrease of $188, 194 from the previous year. The decrease infund balance resulted from an increase in capital expenditures.

The capital projects fund balance at April 30, 2012 was $4,976,649, of which all was assigned. Thefund balance increased by $2,350,226 from the previous year. The increase is the result of the fundreceiving transfers from other funds.

General Fund Budgetary HighlightsThe 2012 annual program budget for the Village of Homer Glen's general fund identified thebudgeted level of spending at $7,915,557. Actual expenditures of $7064,435 (budgetary basis)were less than budgeted expenditures by $851,122. A large portion of the decrease in expenditurescompared to budget resulted from a $108,000 reduction in general government contractual services,$471,000 reduction in general government professional fees and $272,000 in general governmentother expenditures.

The 2012 annual program budget for the Village of Homer Glen's general fund identified thebudgeted revenues at $9,351,132. Actual revenues of $9,948,178 (budgetary basis) were more thanbudgeted revenues in the general fund by $597 046. A large portion of the increase in actualrevenues resulted from the increase in income tax and state sales tax.

Capital AssetsThe Village of Homer Glen's investment in capital assets for its governmental activities as of April30, 2012, is $25,190,404, net of accumulated depreciation. This investment in capital assetsincludes land, vehicles, equipment, signage, and infrastructure. The infrastructure assets, measuredat replacement cost - net of depreciation, were received via contribution from Homer Township as aresult of the Village's incorporation on April 3, 2001. The infrastructure assets consist of roads,curbs and storm sewers,

The capital asset activity for the fiscal year can be found on page 24 - footnote 4 of this report.

Economic Factors and Next Year's Budgets and Rates• The Village continues to pursue commercial development to expand its tax base and secure new

sales tax revenue.• The Village projects stabilization in residential and commercial building permit revenue.• The Village projects moderate growth in sales tux revenue based on previous year's trended

performance.• The Village continues to proactively manage expenditures to match declines in revenues.

XVIII

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Rcq uests for lnforma lionThis financial report is designed to provide a general overview or the Village of Homer Glen'sfi nanccs for all those wi til an imerest in the government' s finances. Questions concerning any of theinformation provided in this report or requests for additional financial information should beaddressed to the Office of the Village Treasurer or the Office of the Village Manager 14933 S.Founders Crossing, Homer Glen, IL 60491.

General information relating to the Village of Homer Glen, Illinois, can be found at the Village'swebsite, http://www.homerglcn.org.

XIX

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BASIC FINANCIAL STATEMENTS

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GOVERNMENT -WIDE FINANCIAL STATEMENTS

Page 30: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

VILLAGE OF HOMER GLEN, ILLINOISSTATEMENT OF NET ASSETS

APRIL 30, 2012WITH COMPARATIVE AMOUNTS FOR APRIL 30, 2011

Governmental Activities2012 2011

ASSETS

Cash and investments $ 11,785,613 $ 8,688,563Receivables:

Intergovernmental 2,068,700 1,669,269Interest 4,140 7,734Other 146,033 206,781

Other assets 278 278Capital assets not being depreciated 13,693,913 13,681,005Other capital assets, net of accumulated depreciation 11,496.491 12.297,165

Total assets 39,195,168 36,550,795

LIABILITIES

Accounts payable 639,286 631,068Other payables 29,861 21,716Deferred grant revenue 131,775 144,580Noncurrent liabilities:

Due within one year 100,000 100,000Due in more than one year 1.150,000 1.250,000

Total liabilities 2,050,922 2,147.364

NET ASSETS

Invested in capital assets 25,190,404 25,978,170Restricted for highways and streets 1,701,009 1,400,114Restricted for parks 124,014 380,008Unrestricted 10,128,819 6,645,139

Total net assets $ 37,144,246 $ 34.403.431

See notes to basic financial statements.

1

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VILLAGE OF HOMER GLEN, ILLINOISSTATEMENT OF ACTIVITIESYEAR ENDED APRIL 30, 2012

WITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED APRIL 30, 2011

Program Revenue

ExpensesCharges forServices

CapitalGrants and

Contributions

Net (Expense) Revenueand Changes in Net Assets2012 2011

Functions/programs:Governmental activities:

General governmentPublic safetyBuildingHighways and streetsCulture and recreation

Total governmental activities

$ 2,018,581 $ 813,893 $ 12,805 $ (1,191,883) $ (l,346,698)3,737,634 (3,737,634) (3,496,309)335,560 (335,560) (370,340)

2,093,884 1,270,401 (823,483) (835,190)240,245 62,774 077,471) (59,026)

$ 8,425,904 $ 2,084,294 $ 75,579 (6,266,031 ) (6,107,563)

8,913,458 8,295,63044,343 69,16149,045 86,145

9,006,846 8,450,936

2,740,815 2,343,373

34,403,431 32,060,058

$ 37,144,246 $ 34,403,431

General revenues:IntergovernmentalInterest incomeOther income

Total general revenues

Change in net assets

Net assets at beginning of year

Net assets at end of year

See notes to basic financial statements.

2

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FUND FINANCIAL STATEMENTS

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VILLAGE OF HOMER GLEN, ILLINOISBALANCESHEET-GOVERNMENTALFUNDS

APRIL 30, 2012WITH COMPARATIVE TOTALS FOR APRIL 30, 2011

Special RevenueMotor Fuel

General Tax ParkASSETS

Cash and investments $ 4,175,881 $ 1,660,140 $ 833,744Receivables:

Intergovernmental 2,021,680 47,020Interest 4,140Other 145,033

Other assets 278

Total assets $ 6,347,012 $ 1,707.160 $ 833,744

LIABILITIES AND FUND BALANCES

Liabilities:Accounts payable $ 624,711 $ 6,151 $Other payables 29,861Deferred grant revenue

Total liabilities 654,572 6,151

Fund balances:Restricted 1,701,009 124,014Assigned 709,730Unassigned 5,692.440

Total fund balances 5,692.440 1,701,009 833,744

Total liabilities and fund balances $ 6,347,012 $ 1,707.160 s 833,744

See notes to basic financial statements.

3

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Capital TotalsProjects 2012 2011

$ 5,115,848 $ 11,785,613 $ 8,688,563

2,068,700 1,669,2694,140 7,734

1,000 146,033 206,781278 278

s 5,116,848 $ 14,004,764 $ 10,572,625

$ 8,424 $ 639,286 $ 631,06829,861 21,716

131.775 131.775 144,580

140,199 800,922 797,364

1,825,023 1,863,7704,976,649 5,686,379 3,268,353

5,692.440 4,643,138

4,976,649 13,203,842 9,775.261

$ 5,116,848 $ 14,004,764 $ 10,572,625

4

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VILLAGE OF HOMER GLEN, ILLINOISRECONCILIATION OF TOTAL GOVERNMENTAL FUND BALANCE

TO NET ASSETS OF GOVERNMENTAL ACTIVITIESAPRIL 30, 2012

Total governmental fund balance $ 13,203,842

Amounts reported for governmental activities in the statement of net assets aredifferent because:

Capital assets used in governmental activities of $36,640,292, net ofaccumulated depreciation of $11,449,888, are not financial resources and,therefore, are not reported in the funds. 25,190,404

Long-term liabilities are not due and payable in the current year and,therefore, are not reported as liabilities in the funds. Long-term liabilities atyear-end consist of a note payable to the Illinois State Toll HighwayAuthority. (1,250,000)

Net assets of governmental activities $ 37.144,246

See notes to basic financial statements.

5

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VILLAGE OF HOMER GLEN, ILLINOISSTATEMENT OF REVENUES, EXPENDITURES AND CHANGES

IN FUND BALANCES - GOVERNMENTAL FUNDSYEAR ENDED APRIL 30, 2012

WITH COMPARATIVE TOTALS FOR THE YEAR ENDED APRIL 30, 2011

Special RevenueMotor Fuel

General Tax Park

Revenues:Intergovernmental $ 9,452,117 $ 731,742 $Licenses, fees and permits 813,893ContributionsGrants 62,774Interest income 16,914 6,389 5,026Other income 49,045

Total revenues 10,331,969 738,131 67,800

Expenditures:Current operations:

General government 1,826,821 2,980Public safety 3,599,402Building 333,612Highways and streets 1,267,803 213,904Culture and recreation 123

Capital outlay 38,554 23,332 253,014Debt service:

Principal

Total expenditures 7,066,315 237,236 255,994

Excess (deficiency) of revenues over (under)expenditures 3,265,654 500,895 088,194)

Other financing sources (uses):Transfers inTransfers out (2,300,000) (200,000)

Total other fmancing sources (uses) (2,300,000) (200,000)

Net change in fund balances 965,654 300,895 (188,194)

Fund balances at beginning of year 4,726,786 1,400,114 1,021,938

Fund balances at end of year $ 5,692,440 $ 1,701,009 $ 833,744

See notes to basic financial statements.

6

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Capital TotalsProjects 2012 2011

$ $ 10,183,859 $ 9,553,727813,893 835,381

12,805 75,579 78,47016,014 44,343 69,161

49,045 114,915

28,819 11,166,719 10,651,654

7

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VILLAGE OF HOMER GLEN, ILLINOISRECONCILIATION OF THE STATEMENT OF REVENUES,EXPENDITURES AND CHANGES IN FUND BALANCES OF

GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIESYEAR ENDED APRIL 30, 2012

Net change in fund balances - total governmental funds

Amounts reported for governmental activities in the statement of activities aredifferent because:

Governmental funds report capital outlays as expenditures. However, in thestatement of activities, the cost of those assets is allocated over theirestimated useful lives and reported as depreciation expense. This is theamount by which depreciation ($1,160,287) exceeded capitalizedexpenditures ($372,521) in the current period.

Repayment of long-term debt principal is an expenditure in the governmentalfunds, but the repayment reduces long-term liabilities in the governmentalactivities.

Change in net assets of governmental activities

See notes to basic financial statements.

8

$ 3,428,581

(787,766)

100,000

$ 2,740,815

Page 39: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

VILLAGE OF HOMER GLEN, ILLINOISSTATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES-

BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) - GENERAL FUNDYEAR ENDED APRIL 30, 2012

WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED APRIL 30, 2011

2012 2011Variance with

Original Final Budgetand Final PositiveBudget Actual (Negative) Actual

Revenues:Intergovernmental $ 8,451,682 $ 9,052,238 $ 600,556 $ 8,860,816Licenses, fees and permits 777,950 834,781 56,831 840,041Contributions 2,500 5,349 2,849 5,844Interest income 15,000 18,812 3,812 46,455Other income 104,000 36,998 (67,002) 36,647

Total revenues 9,351.132 9,948,178 597,046 9,789,803

Expenditures:General government:

Current:Personnel 649,969 712,365 (62,396) 684,623Communication 17,000 14,199 2,801 14,117Contractual services 203,600 95,353 108,247 137,041Maintenance 44,500 42,065 2,435 26,970Professional development 47,000 32,921 14,079 23,872Professional fees 792,500 321,600 470,900 411,805Supplies 72,950 41,736 31,214 54,845Other 792,464 519,933 272,531 605,958

Capital outlay 22,000 13,167 8,833 6,890Public safety:

Current:Personnel 10,000 10,000 10,208Contractual services 3,420,000 3,490,225 (70,225) 3,183,030Supplies 10,250 8,170 2,080 10,654Other 119,800 135,416 (15,616) 142,940

Capital outlay 33,500 23,439 10,061 19,151Building:

Current:Personnel 326,124 317,737 8,387 342,074Contractual services 19,900 6,773 13,127 4,680Maintenance 2,500 2,500 448Supplies 7,000 6,985 15 11,698Other 5,000 2,477 2,523 11,080

Capital outlay 17,500 1,948 15,552

See notes to basic financial statements.

9

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2012 2011Variance with

Original Final Budgetand Final PositiveBudget Actual (Negative) Actual

Highways and streets:Current:

Contractual services 1,300,000 1,267,803 32,197 1,258,351Culture and recreation:

Current:Other 2,000 123 1,877 14,410

Total expenditures 7,915,557 7,064,435 851.122 6,974,845

Excess of revenues over expenditures 1,435,575 2,883,743 1,448,168 2,814,958

Other financing uses:Transfers out (1,200,000) (2,300,000) (1.1 00,000) (1,400,000)

Net change in fund balances 235,575 583,743 348,168 1,414,958

Fund balances at beginning of year (non-GAAPbudgetary basis) 3,349,742 3.349,742 1,934,784

Fund balances at end of year (non-GAAPbudgetary basis) $ 3,585,317 $ 3,933,485 $ 348,168 $ 3,349,742

(continued)

10

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VILLAGE OF HOMER GLEN, ILLINOISSTATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES-

BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) - GENERAL FUNDYEAR ENDED APRIL 30, 2012

WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED APRIL 30, 2011

Explanation of differences between budgetary inflows and outflows and GAAP revenues and expenditures:

Sources / inflows of resources:

Actual amounts (budgetary basis) "available for appropriation" from the budgetarycomparison statement $ 9,948,178

Difference - budget to GAAP:Receivables:

Other taxesInterestOther

404,151(1,898)

08,462)

Total revenues as reported on the statement of revenues, expenditures and changes in fundbalances - governmental funds $ 10,331,969

Uses / outflows of resources:

Actual amounts (budgetary basis) "total charges to appropriations" from the budgetarycomparison statement $ 7,064,435

Differences - budget to GAAP:Accounts payableOther payables

(6,265)8,145

Total expenditures as reported on the statement of revenues, expenditures and changesin fund balances - governmental funds $ 7,066,315

See notes to basic financial statements.

11

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VILLAGE OF HOMER GLEN, ILLINOISSTATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES-BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) - MOTOR FUEL TAX FUND

YEAR ENDED APRIL 30, 2012WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED APRIL 30, 2011

2012 2011Variance with

Original Final Bud~etand Final PositiveBud~et Actual (Ne~ative) Actual

Revenues:Intergovernmental:

Motor fuel tax allotments $ 642,622 $ 736,462 $ 93,840 $ 762,286Other 2,048,133 (2,048,133) 75,689

Interest income 2,500 6,942 4.442 13,393

Total revenues 2,693,255 743.404 (1,949,851 ) 851.368

Expenditures:Current:

Highways and streets:Maintenance 34,000 30,304 3,696 29,911Contractual services 183,600 183,600 183,600

Capital outlay 2,507,277 17,181 2.490,096 92.306

Total expenditures 2,724,877 231,085 2.493,792 305,817

Excess (deficiency) of revenuesover (under) expenditures (31,622) 512,319 543,941 545,551

Other financing uses:Transfers out C200,000) C200,000) C200,000)

Net change in fund balances (231,622) 312,319 543,941 345,551

Fund balances at beginning of year(non-GAAP budgetary basis) 1,847,821 1,847,821 1,302,270

Fund balances at end of year(non-GAAP budgetary basis) $ 1,816,199 $ 2,360,140 $ 543,941 $ 1,847,821

See notes to basic financial statements.

12

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Explanation of differences between budgetary inflows and outflows and GAAP revenues and expenditures:

Sources / inflows of resources:

Actual amount (budgetary basis) "available for appropriation" from the budgetarycomparison statement

Difference - budget to GAAP:Receivables:

Motor fuel tax allotmentsInterest

Total revenues as reported on the statement of revenues, expenditures and changesin fund balances - governmental funds

Uses / outflows of resources:

Actual amount (budgetary basis) "total charges to appropriations" from thebudgetary comparison statement

Difference - budget to GAAP:Accounts payable

Total expenditures as reported on the statement of revenues, expenditures andchanges in fund balances - governmental funds

13

$ 743,404

(4,720)(553)

738,131

$ 231,085

6,151

237,236

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VILLAGE OF HOMER GLEN, ILLINOISSTATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES _

BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) - PARK FUNDYEAR ENDED APRIL 30, 2012

WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED APRIL 30, 2011

2012 2011Variance with

Original Final Budgetand Final PositiveBudget Actual (Negative) Actual

Revenues:Grants $ 110,900 $ 62,774 $ (48,126) $Interest income 3,000 6,169 3,169 7,234Intergovernmental 266.314 43,286 (223,028) 74,369

Total revenues 380,214 112,229 (267,985) 81.603

Expenditures:Current:

Contractual services 395,600 395,600Other 2,980 (2,980)

Capital outlay 928,693 253,014 675,679 82.359

Total expenditures 1.324,293 255,994 1.068,299 82,359

Deficiency of revenues underexpenditures (944,079) (143,765) 800,314 (756)

Other financing sources:Transfers in 350,000

Net change in fund balances (944,079) (143,765) 800,314 349,244

Fund balances at beginning of year(non-GAAP budgetary basis) 972.439 972.439 623,195

Fund balances at end of year(non-GAAP budgetary basis) $ 28.360 $ 828,674 $ 800,314 $ 972.439

See notes to basic financial statements.

14

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Explanation of differences between budgetary inflows and outflows and GAAP revenues and expenditures:

Sources / inflows of resources:

Actual amount (budgetary basis) "available for appropriation" from the budgetarycomparison statement

Difference - budget to GAAP:Receivables:

OtherInterest

Total revenues as reported on the statement of revenues, expenditures and changesin fund balances - governmental funds

Uses / outflows of resources:

Actual amounts (budgetary basis) "total charges to appropriations" from thebudgetary comparison statement

Difference -budget to GAAP:Accounts payable

Total expenditures as reported on the statement of revenues, expenditures andchanges in fund balances - governmental funds

15

$ 112,229

(43,286)(1,143)

$ 67,800

$ 255,994

$ 255,994

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Cash

Other payables

VILLAGE OF HOMER GLEN, ILLINOISSTATEMENT OF FIDUCIARY ASSETS AND LIABILITIES -

AGENCY FUND - REVOLVING ESCROW FUNDAPRIL 30, 2012

WITH COMPARATIVE AMOUNTS FOR APRIL 30, 2011

2012 2011ASSETS

$ 56,625 iI:.$==-=_~81~,5.:.l;O~O

LIABILITIES

$ 56,625 ll:,$====_~81~,5.:.l;O~O

See notes to basic financial statements.

16

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NOTES TO BASIC FINANCIAL STATEMENTS

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VILLAGE OF HOMER GLEN, ILLINOISNOTES TO BASIC FINANCIAL STATEMENTS

YEAR ENDED APRIL 30, 2012

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A. Financial Reporting Entity

The Village of Homer Glen, Illinois was incorporated April 3, 2001. The Village operates under Council-Manager form of government and provides the following services as authorized by its charter: publicsafety (police), highways and streets, building, culture-recreation, public improvements, and generaladministrative services.

These financial statements include the Village and its component units, entities for which the Village isconsidered to be financially accountable. At April 30, 2012, no entities were considered component unitsof the Village.

B. Basis of Presentation - Fund Accounting

The accounting system is organized and operated on a fund basis. A fund is defined as a fiscal andaccounting entity with a self-balancing set of accounts, which is segregated for the purpose of carrying onspecific activities or attaining certain objectives in accordance with special regulations, restrictions orlimitations.

The Village's governmental funds are comprised of the following:

The General Fund is the Village's primary operating fund. It accounts for all financial resources ofthe general government, except those required to be accounted for in another fund.

The Motor Fuel Tax Fund accumulates motor fuel tax allotments that are used for highways andstreets throughout the Village.

The Park Fund accumulates donations from developers to be used for parks throughout the Village.

The Capital Projects Fund accounts for the acquisition or construction of major capital projectsthroughout the Village.

c. Basis of Accounting

Government-wide Financial Statements:

The statement of net assets and statement of activities display information about the Village as awhole. They include all funds of the Village. Individual funds are not displayed. These statementsreflect governmental activities, which are generally supported by taxes, intergovernmental revenues,and other nonexchange revenues.

The government-wide financial statements are prepared using the economic resources measurementfocus and the accrual basis of accounting. This differs from the manner in which governmental fundfinancial statements are prepared. Therefore, governmental fund financial statements include areconciliation with brief explanations to better identify the relationship between the government-wide statements and the statements for governmental funds.

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VILLAGE OF HOMER GLEN, ILLINOISNOTES TO BASIC FINANCIAL STATEMENTSYEAR ENDED APRIL 30, 2012

The government-wide statement of activities presents a comparison between expenses and revenuesfor each governmental program. Program revenues include charges paid by the recipients of thegoods or services offered by the programs and grants and contributions that are restricted to meetingthe operational or capital requirements of a particular program. Revenues which are not classified asprogram revenues are presented as general revenues. The comparison of program revenues andexpenses identifies the extent to which each program is self-financing or draws from the generalrevenues of the Village.

Net assets should be reported as restricted when constraints placed on net assets are either externallyimposed by creditors (such as through debt covenants), grantors, contributors, or laws or regulationsof other governments or imposed by law through constitutional provisions or enabling legislation.

Fund Financial Statements:

Fund financial statements report detailed information about the Village. The focus of governmentalfund financial statements is on major funds rather than reporting funds by type. Each major fund ispresented in a separate column. Nonmajor funds are aggregated and presented in a single column.The Village had no nonmajor funds at April 30, 2012.

Governmental Funds:

All governmental funds are accounted for using the modified accrual basis of accounting and thecurrent financial resources measurement focus. Under this basis, revenues are recognized in theaccounting period in which they become measurable and available. Expenditures are recognized inthe accounting period in which the fund liability is incurred, if measurable.

Fiduciary Funds:

Fiduciary funds are used to report assets held in a trustee or agency capacity for others and thereforeare not available to support Village programs. Agency funds are used to account for assets held bythe Village in purely a custodial capacity. The reporting focus is on net assets and changes in netassets and is reported using accounting principles similar to those applied to businesses in theprivate sector.

The Village's fiduciary fund, the Revolving Escrow Fund, is presented in the fiduciary fundfinancial statements. Since, by definition, these assets are being held for the benefit of a third party(other local governments, private parties, etc.) and cannot be used to fund activities or obligations ofthe Village, these funds are not incorporated into the government-wide statements.

D. Revenue Recognition

Under the modified accrual basis of accounting revenues are recognized when susceptible to accrual (i.e.,when they are "measurable and available"). "Measurable" means the amount of the transaction can bedetermined and "available" means collectible within the current period or soon enough thereafter to payliabilities of the current period. For this purpose, the Village considers revenues to be available if they arecollected within 60 days of the end of the current fiscal period.

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VILLAGE OF HOMER GLEN, ILLINOISNOTES TO BASIC FINANCIAL STATEMENTSYEAR ENDED APRIL 30, 2012

Per capita taxes, investment income and charges for services are susceptible to accrual. Intergovernmentalrevenues (sales taxes, road and bridge reimbursements, motor fuel taxes, income taxes) and fines collectedand held by the State or County at year end on behalf of the Village are also recognized as revenue. Otherreceipts and taxes become measurable and available when cash is received by the Village and arerecognized as revenue at that time. As of April 30, 2012, the State of Illinois, as a result of its financialdifficulties, was several months in arrears in remitting state income tax collections to the Village. Theavailability period for state income tax revenue has been extended so that twelve months of revenue arereflected in the accompanying financial statements.

Entitlement and shared revenues are recorded at the time of receipt or earlier if the susceptible to accrualcriteria are met. Expenditure-driven grants are recognized as revenue when the qualifying expenditureshave been incurred and all other grant requirements have been met.

E. Expenditure Recognition

The measurement focus of governmental fund accounting is on decreases in net financial resources(expenditures) rather than expenses. Most expenditures are measurable and are recorded when the relatedfund liability is incurred. Allocations of costs, such as depreciation and amortization, are not recognized inthe governmental funds.

F. Cash and Investments

Cash and cash equivalents of the Village are considered to be cash on hand, demand deposits and short-term investments with original maturities of three months or less from the date of acquisition.

Investments are reported at fair value which is determined using selected bases. Short-term investmentsare reported at cost, which approximates fair value. Securities traded on a national exchange are valued atthe last reported sales price and investments that do not have an established market are reported atestimated fair value. Cash deposits are reported at carrying amount which reasonably approximates fairvalue. Investments in the Illinois Funds are reported at fair value which is the same as the Village'sposition in the pool.

G. Receivables

Receivables at April 30, 2012 for intergovernmental and other revenues are deemed collectible in full.

H. Capital Assets and Depreciation

The accounting and reporting treatment applied to capital assets depends on whether the assets are used ingovernmental fund operations or proprietary fund operations and whether they are reported in thegovernment-wide or fund financial statements. The capitalization threshold of the Village for capital assetsis $5,000. The Village has elected not to capitalize infrastructure assets constructed prior to January 1,1980. The Village currently does not own any buildings and does not have any proprietary fund operations.

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VILLAGE OF HOMER GLEN, ILLINOISNOTES TO BASIC FINANCIAL STATEMENTSYEAR ENDED APRIL 30, 2012

Government-wide Financial Statements:

In the government-wide financial statements, all capital assets are valued at historical cost, orestimated historical cost if actual is unavailable, except for donated capital assets, which arerecorded at their estimated fair value at the date of donation.

Depreciation of all exhaustible capital assets is recorded as an expense in the statement of activities,with accumulated depreciation reflected in the statement of net assets. Depreciation is provided overthe asset's estimated useful life using the straight-line method. The range of estimated useful lives bytype of asset is as follows:

EquipmentImprovements (including infrastructure)Leasehold improvementsSignageVehicles

7 years20-50 yearsLease term

7 years5 years

Fund Financial Statements:

In the fund financial statements, capital assets used in governmental fund operations are accountedfor as capital outlay expenditures of the governmental fund upon acquisition.

I. Equity Classifications

Government-wide Financial Statements:

Equity is classified as net assets and displayed in three components:

Invested in capital assets - Consists of capital assets including restricted capital assets, net ofaccumulated depreciation and reduced by the outstanding balances of any bonds, mortgages,notes, or other borrowings that are attributable to the acquisition, construction, or improvementof those assets.

Restricted net assets - Consists of net assets with constraints placed on the use either by (l)external groups such as creditors, grantors, contributors, or laws or regulations of othergovernments; or (2) law through constitutional provisions or enabling legislation.

Unrestricted net assets - All other net assets that do not meet the definition of "restricted" or"invested in capital assets."

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VILLAGE OF HOMER GLEN, ILLINOISNOTES TO BASIC FINANCIAL STATEMENTSYEAR ENDED APRIL 30, 2012

Fund Financial Statements:

Beginning with fiscal year 2012, the Village implemented GASB Statement No. 54, Fund BalanceReporting and Governmental Fund Type Definitions. This Statement provides more clearly definedfund balance categories to make the nature and extent of the constraints placed on a government'sfund balances more transparent. The following classifications describe the relative strength of thespending constraints:

Nonspendable - amounts that are not in spendable form (such as inventory) or are required to bemaintained intact.

Restricted - amounts constrained to specific purposes by their providers (such as grantors,bondholders, and higher levels of government), through constitutional provisions, or by enablinglegislation.

Committed - amounts constrained to specific purposes by the Village itself, using its highest level ofdecision-making authority (i.e., Board of Trustees). To be reported as committed, amounts cannot beused for any other purpose unless the Village takes the same highest level action to remove or changethe constraint.

Assigned - amounts the V illage intends to use for a specific purpose. Intent can be expressed by theBoard of Trustees or by an individual or body to which the Village delegates the authority.

Unassigned - amounts that are available for any purpose. Positive amounts are reported only in theGeneral Fund.

Beginning fund balances for the Village's governmental funds have been restated to reflect the aboveclassifications.

The Board of Trustees establishes (and modifies or rescinds) fund balance commitments by passageof an ordinance or resolution. This is typically done through adoption and amendment of the budget.A fund balance commitment is further indicated in the budget document as a designation orcommitment of the fund (such as for special incentives). Assigned fund balance is established by theBoard of Trustees through adoption or amendment of the budget as intended for specific purpose(such as the purchase of capital assets, construction, debt service, or for other purposes).

J. Use of Restricted Resources

When an expense is incurred that can be paid using either restricted or unrestricted resources, the Village'spolicy is to first apply the expense toward restricted resources and then toward unrestricted resources. Ingovernmental funds, the Village's policy is to first apply the expenditure toward restricted fund balanceand then to other, less-restrictive classifications - committed and then assigned fund balances before usingunassigned fund balances.

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VILLAGE OF HOMER GLEN, ILLINOISNOTES TO BASIC FINANCIAL STATEMENTSYEAR ENDED APRIL 30, 2012

K. Interfund Transfers

Transfers are used to move unrestricted revenues collected in a fund to finance various programsaccounted for in other funds in accordance with budgetary authorizations. $2,300,000 was transferred fromthe General Fund to the Capital Projects Fund and $200,000 was transferred from the Motor Fuel TaxFund to the Capital Projects Fund during the year ended April 30, 2012.

L. Estimates

Management uses estimates and assumptions in preparing financial statements. Those estimates andassumptions affect the reported amount of assets and liabilities, the disclosure of contingent assets andliabilities, and the reported revenues and expenditures/expenses. Actual results could differ from thoseestimates.

M. Reclassifications

Certain amounts as previously reported for 2011 have been reclassified to conform to the 2012presentation.

NOTE 2. COMPLIANCE AND ACCOUNTABILITY

A. Budget Requirements, Accounting and Reporting

The Village adopts its budgets on an annual basis. The Village has adopted the budgetary system for thecurrent and future fiscal years. The Village follows these procedures in establishing the budgetary data:

1. All departments of the Village submit requests for appropriation to the Village Treasurer whoprepares the budget for submission to the Village Manager. The budget is prepared by fund,function, and activity, and includes information on current year estimates and requestedappropriations for the next fiscal year.

2. The proposed budget is presented to the governing body for review. The governing body holdspublic hearings and may add to, subtract from, or change appropriations, but may not change theform of the budget.

3. The budget is legally enacted through passage of an ordinance. The budget for the year endedApril 30, 2012 was adopted through the passage of ordinance number 11-007 on April 12, 2011.

4. The Village Treasurer is authorized to transfer budgeted amounts within any fund; however, anyrevisions that alter the total expenditures of any fund must be approved by the governing body.The budget was not amended during this fiscal year.

5. Budgets are adopted on the cash basis of accounting for governmental funds. The level ofcontrol (level at which expenditures may not exceed budget/appropriations) is the fund.Appropriations lapse at the end of the fiscal year.

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VILLAGE OF HOMER GLEN, ILLINOISNOTES TO BASIC FINANCIAL STATEMENTSYEAR ENDED APRIL 30, 2012

NOTE 3. DEPOSITS AND INVESTMENTS

Policies and Practices

State statutes authorize the Village to invest in obligations of the U.S. Treasury, commercial paper,corporate bonds, repurchase agreements, and The Illinois Funds, which is regulated by the State of Illinois.

Deposits

Custodial credit risk for deposits is the risk that, in the event of a bank failure, the Village's deposits mightnot be recovered. The Village does not have a deposit policy for custodial credit risk. As of April 30,2012, $2,092,506 of the Village's bank balances of $2,342,506 was uninsured and collateralized withsecurities held by pledging financial institutions.

Investments

As of April 30, 2012, the Village had the following investments:

Average WeightedFair Valuel Credit AverageCarrying Qualityl Days to

Type of Investment Amount Ratings (1) Maturitv (2)

The Illinois Funds $ 1,252,670 AAAm 28 daysIllinois Metropolitan Investment Fund 7,030,949 AAAf/Sl 5 daysCertificates of deposit 1.340.432 N/A 360 days

Total investments $ 9,624,051

(1) Ratings are provided where applicable to indicate associated Credit Risk. N/A indicates not applicable.(2) Interest Rate Risk is estimated using weighted average days to maturity.

Investment Policies

The Village's investments are subject to the following risks:

Concentration of credit risk is the risk of loss attributed to the magnitude of the Village's investmentin a single issuer.

Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill itsobligations.

Interest rate risk is the risk that changes in interest rates will adversely affect the fair value of aninvestment.

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VILLAGE OF HOMER GLEN, ILLINOISNOTES TO BASIC FINANCIAL STATEMENTSYEAR ENDED APRIL 30, 2012

Custodial credit risk for investments is the risk that, in the event of the failure of the counterparty toa transaction, the Village will not be able to recover the value of investment or collateral securitiesthat are in the possession of an outside party.

The Village does not have an investment policy for the above risks.

NOTE 4. CAPITAL ASSETS AND DEPRECIATION

Capital asset activity for the year ended April 30, 2012 was as follows:

DeletionsBeginning and EndingBalance Additions Adjustments Balance

Governmental activities:Capital assets not being depreciated:

Land $ 13,681,005 $ 12,908 $ $ 13,693,913

Capital assets being depreciatedEquipment 204,486 7,322 211,808Infrastructure 20,908,405 90,727 20,999,132Land improvements 1,274,250 253,014 1,527,264Signage 7,800 7,800Vehicles 191,825 8,550 200,375

Total 22,586,766 359,613 22,946.379

Less accumulated depreciation for:Equipment (81,393) (29,735) (111,128)Infrastructure (9,864,509) (1,045,494) (10,910,003)Land improvements (178,384) (70,038) (248,422)Signage (7,800) (7,800)Vehicles 057,515) 05,020) 072,535)

Total 00.289,601) ( 1,160,287) 01.449,888)

Total capital assets beingdepreciated, net 12.297,165 (800,674) 11.496.491

Total capital assets $ 25,978,170 $ (787,766) $ $ 25,190.404

For the year ended April 30, 2012, depreciation of $99,002, $1,045,494, and $15,791 was charged to thegeneral government, public safety, and highways and streets functions, respectively.

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VILLAGE OF HOMER GLEN, ILLINOISNOTES TO BASIC FINANCIAL STATEMENTSYEAR ENDED APRIL 30, 2012

NOTE 5. LONG- TERM LIABILITIES

Long-term liability activity for the year ended April 30, 2012 was as follows:

BeginningBalance Additions Reductions

EndingBalance

Due WithinOne Year

Note payable $ 1.350,000 ",$========.......;,_ $ 100,000 $ },250,000 =$===0•.••1•••00-.,_00•••0

The Village entered into a note payable in a prior year with the Illinois State Toll Highway Authority forthe construction of entrance and exit ramps on the south extension of Interstate 355. The note is to berepaid in annual installments of principal only in amounts as determined by the Village, with the finalpayment of all unpaid principal due in December, 2014. The outstanding balance due at April 30, 2012was $1,250,000.

NOTE 6. OPERATING LEASES

The Village leases office and garage space under operating lease agreements expiring in May, 2013 andAugust, 2013. The lease agreements require the Village to make minimum monthly rental payments. Rentexpense for the year ended April 30, 2012 was $223,451.

Future minimum lease payments required under these leases in years ending April 30 are as follows:

20132014

$ 222,08768,037

Total $ 292,135

NOTE 7. FUND BALANCES

As of April 30, 2012, fund balances were comprised of the following:

Capital TotalGeneral Motor Fuel Park Projects GovernmentalFund Fund Fund Fund Funds

Restricted for:Highway and street construction

and maintenance $ $ 1,701,009 $ $ $ 1,701,009Park development 124,014 124,014

Assigned to:Park development 709,730 709,730Capital projects 4,976,649 4,976,649

Unassigned 5.692.440 5,692.440

Total fund balances $ 5.692.440 $ 1.701.009 $ 833,744 $ 4,976,649 $ 13,203,842

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VILLAGE OF HOMER GLEN, ILLINOISNOTES TO BASIC FINANCIAL STATEMENTSYEAR ENDED APRIL 30, 2012

NOTE 8. DEFINED BENEFIT PENSION PLAN

Plan Description. The Village's defined benefit pension plan for Regular employees provides retirementand disability benefits, post retirement increases, and death benefits to plan members and beneficiaries.The Village's plan is affiliated with the Illinois Municipal Retirement Fund (IMRF), an agent multiple-employer plan. Benefit provisions are established by statute and may only be changed by the GeneralAssembly of the State of Illinois. IMRF issues a publicly available financial report that includes financialstatements and required supplementary information. That report may be obtained on-line at www.imrf.org.

Funding Policy. As set by statute, the Village's Regular plan members are required to contribute 4.5percent of their annual covered salary. The statute requires employers to contribute the amount necessary,in addition to member contributions, to finance the retirement coverage of its own employees. Theemployer contribution rate for calendar year 2011 was 9.63 percent. The Village also contributes fordisability benefits, death benefits and supplemental retirement benefits, all of which are pooled at theIMRF level. Contribution rates for disability and death benefits are set by the IMRF Board of Trustees,while the supplemental retirement benefits rate is set by statute.

Annual Pension Cost. The required contribution for the fiscal year ended April 30, 2012 was $71,054.

Three-Year Trend Information for the Regular Plan.

FiscalYearEnding

AnnualPension

Cost CAPe)

PercentageofAPC

ContributedNet PensionObligation

4/30/124/30/114/30110

$ 71,05467,10473,733

100100100

$ ooo

The required contribution for the fiscal year ended April 30, 2012 was determined as part of the December31, 2009 actuarial valuation using the entry age normal actuarial cost method. The actuarial assumptionsat December 31,2009 included (a) 7.5 percent investment rate of return (net of administrative and directinvestment expenses), (b) projected salary increases of 4 percent a year, attributable to inflation, (c)additional projected salary increases ranging from 0.4 percent to 10 percent per year depending on age andservice, attributable to seniority/merit, and (d) post-retirement benefit increases of 3 percent annually. Theactuarial value of the Village's Regular plan assets was determined using techniques that spread the effectsof short-term volatility in the market value of investments over a five-year period with a 20 percentcorridor between the actuarial and market value of assets. The Village's Regular plan's unfunded actuarialaccrued liability at December 3 1, 2009 is being amortized as a level percentage of projected payroll on anopen 30 year basis.

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VILLAGE OF HOMER GLEN, ILLINOISNOTES TO BASIC FINANCIAL STATEMENTSYEAR ENDED APRIL 30, 2012

Funded Status and Funding Progress. As of December 31, 2011, the most recent actuarial valuation date,the Regular plan of the Village was 56.66 percent funded. The actuarial accrued liability for benefits was$632,329 and the actuarial value of assets was $358,272, resulting in an underfunded actuarial accruedliability (UAAL) of $274,057. The covered payroll for calendar year 2011 (annual payroll of activeemployees covered by the plan) of the Village was $686,243 and the ratio ofUAAL to the covered payrollwas 40 percent.

The schedule of funding progress, presented as required supplementary information following the notes tobasic financial statements, presents multiyear trend information about whether the actuarial value of planassets is increasing or decreasing over time relative to the actuarial accrued liability for benefits.

NOTE 9. CONTINGENCIES

A. Litigation

The Village is a defendant in various lawsuits. Although the outcome of these lawsuits is not presentlydeterminable, in the opinion of the Village's management, the resolution of these matters will not have amaterial adverse effect on the financial condition of the Village.

NOTE 10. RISK MANAGEMENT

The Village is exposed to various risks of loss related to torts; theft of, damage to, and destruction ofassets; errors and omissions; injury to employees; and natural disasters. In order to protect against suchlosses, the Village has purchased insurance from private insurance companies, and has joined an insurancecooperative, as discussed below. The amount of coverage has not decreased nor have the amount ofsettlements exceeded coverage in any of the past three fiscal years. Insurance expense for the year endedApril 30, 2012 was $28,414.

Southwest Agency for Health Management - The Village is a participant in the Southwest Agency forHealth Management (SWARM), which provides medical, dental, and life insurance benefits to Villageemployees. SWARM is a sub-pool of the Intergovernmental Personnel Benefit Cooperative (lPBC). Themember agreement provides that SWAHM will be self-sustaining through member premiums and willreinsure through commercial companies for claims in excess of $75,000 per occurrence. The Villagecontributes on a monthly basis to meet its obligations to SWAHM and IPBC. The members have acontractual obligation to fund any deficits.

One representative from each member serves on the Board of IPBC. The president of SWARM serves asthe representative to IPBC. Each member has one vote on the Board. None of the members of SWARM orIPBC have any direct equity interest in the agencies.

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VILLAGE OF HOMER GLEN, ILLINOISNOTES TO BASIC FINANCIAL STATEMENTSYEAR ENDED APRIL 30, 2012

NOTE 11. SUBSEQUENT EVENTS

Subsequent to April 30, 2012, the Village issued $15,640,000 of General Obligation Bonds, Series 2012Ato fulfill certain economic development objectives of the Village.

Management has evaluated subsequent events through October 19, 2012, which is the date the financialstatements were available to be issued.

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REQUIRED SUPPLEMENTARY INFORMATION

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VILLAGE OF HOMER GLEN, ILLINOISSCHEDULE OF ANALYSIS OF FUNDING PROGRESS -

ILLINOIS MUNICIPAL RETIREMENT FUNDAPRIL 30, 2012

Actuarial Actuarial UnfundedActuarial Value Accrued Actuarial Accrued

Valuation Date of Assets Liability Liability (UAAL)

December 31, 2011 $ 358,272 $ 632,329 $ 274,057

December 31,2010 348,679 530,121 181,442

December 31, 2009 445,963 618,203 172,240

December 31, 2008 340,169 472,043 131,874

December 31, 2007 265,460 372,118 106,658

December 31, 2006 160,397 300,922 140,525

December 31, 2005 75,977 195,314 119,337

December 31, 2004 27,381 95,804 68,423

NOTE: On a market value basis, the actuarial value of assets as of December 31, 2011 was $331,503. On amarket basis, the funded ratio would be 52.43%

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UAALasaFunded Covered Percentage ofRatio Payroll Covered Payroll

56.66 % $ 686,243 39.94 %

65.77 759,662 23.88

72.14 765,163 22.51

72.06 731,746 18.02

71.34 733,615 14.54

53.30 675,978 20.79

38.90 368,552 32.38

28.58 168,427 40.62

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SUPPLEMENTARY INFORMATION

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CAPITAL PROJECTS FUND

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VILLAGE OF HOMER GLEN, ILLINOISCAPITAL PROJECTS FUND

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUNDBALANCES - BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS)

YEAR ENDED APRIL 30, 2012WITH COMPARATIVE ACTUAL AMOUNTS FOR YEAR ENDED APRIL 30, 2011

2012 2011Variance with

Original Final Budt:etand Final PositiveBudt:et Actual (Net:ative) Actual

Revenues:Contributions $ 159,420 $ $ (159,420) $Grants 375,000 11,805 (363,195) 79,853Interest income 12,000 16,014 4,014 18,057

Total revenues 546.420 27,819 (518,601) 97,910

Expenditures:Capital outlay 1,639,595 70,261 1,569,334 269,562Debt service:

Principal 100,000 100,000 50,000

Total expenditures 1.739,595 170,261 1.569,334 319.562

Deficiency of revenues underexpenditures (1,193,175) (142,442) 1,050,733 (221,652)

Other financing sources:Transfers in 1.400,000 2,500,000 1.100,000 1,250,000

Net change in fund balances 206,825 2,357,558 2,150,733 1,028,348

Fund balances at beginning of year 2,677,179 2,677,179 1,648,831

Fund balances at end of year $ 2,884,004 $ 5,034,737 $ 2,150,733 $ 2,677,179

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Explanation of differences between budgetary inflows and outflows and GAAP revenues and expenditures:

Sources / inflows of resources:

Actual amount (budgetary basis) "available for appropriation" from the budgetarycomparison schedule

Difference - budget to GAAP:Receivables:

Other

Total revenues as reported on the statement of revenues, expenditures and changesin fund balances - governmental funds

Uses / outflows of resources:

Actual amounts (budgetary basis) "total charges to appropriations" from thebudgetary comparison schedule

Differences - budget to GAAP:Accounts payable

Total expenditures as reported on the statement of revenues, expenditures, andchanges in fund balances - governmental funds

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$ 27,819

1.000

$ 28,819

$ 170,261

8.332

$ 178.593

Page 67: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

AGENCY FUND

Page 68: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

REVOLVING ESCROW FUND

Page 69: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

VILLAGE OF HOMER GLEN, ILLINOISAGENCY FUND

REVOLVING ESCROW FUNDSTATEMENT OF CHANGES IN ASSETS AND LIABILITIES

YEAR ENDED APRIL 30, 2012

ASSETS

BalanceMay 1,2011 Additions

BalanceDeductions April 30, 2012

Cash $ 81,500 $ 4,000 $ (28,875) 0!:$===5;.;;;;6,~62!;O;;O,5

LIABILITIES

Other payables $ 81,500 $ 4,000 $ (28,875) 0!:$===5;.;;;;6,~62!;O;;O,5

33

Page 70: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

STATISTICAL SECTION

Page 71: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

VILLAGE OF HOMER GLEN, ILLINOISSTATISTICAL SECTION

YEAR ENDED APRIL 30, 2012

This part of the comprehensive annual financial report of the Village of Homer Glen, Illinois presentsdetailed information as a context for understanding what the information in the financial statements, notedisclosures, and required supplementary information says about the government's overall financial health.The section is divided into five sections as follows:

Financial Trends - These schedules contain trend information to help the reader understand how thegovernment's financial performance and well-being have changed over time.

Revenue Capacity - These schedules contain information to help the reader assess the government'smost significant local revenue sources.

Debt Capacity - These schedules present information to help the reader assess the affordability of thegovernment's current levels of outstanding debt and the government's ability to issue additional debtin the future.

Demographic and Economic Information - These schedules contain demographic and economicindicators to help the reader understand the environment within which the government's financialactivities take place.

Operating Information - These schedules contain service and infrastructure data to help the readerunderstand how the information in the government's financial report relates to the services thegovernment provides and the activities it performs.

Only schedules applicable to the Village are presented.

Page 72: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

VllL

AGE

OF

HOMER

GLE

N,ILLINOIS

NET

ASSET

SBY

COMPO

NEN

T

Last

TenFiscal

Years

2003

2004

2005

2006

Fiscal

Year

2007

2008

2009

2010

2011

2012

Primary

Governm

ent/G

overnm

ental

Activities

Invested

inCapitalAssets

s28,540,723

s27,628,503

s26,447,522

s25,620,277

s25,235,317

s26,413,030

s27,104,039

s26,621,275

s25,978,170

s25,190,404

Restricted

for:

Highw

ays

andstreets

Parks

CapitalProjects

Unrestricted

749,625

82,385

1,480,580

1,699,262

917,882

890,813

1,076,178

852,269

855,456

710,125

646,640

703,502

221,995

648,494

1,213,253

1,150,399

715,401

(20,970)

(31,944)

425,849

1,471,033

2,451,594

2,934,745

3))54,751

2,C)~3,7

.02.

nM45J}9._

10,128,819

991,495

393,340

1,143,121

592,637

1,400,114

380,008

1,701,009

124,lH4

TotalPrimary

Governm

ent/G

overnm

ental

Activities

s29,351,763

s28,981,394

s28,609,129

s29,646,154

s30,890,123

s32,189,035

s32,846,642.s.3

2,060,058

$34,403,431$.37,141,246

Data

Source

Audited

Financial

Statem

ents

w .;::.

Note:

Accounting

standards

require

that

netassets

bereported

inthree

components

inthefinancial

statem

ents;

invested

incapitalassets,netof

related

debt;restricted;

andunrestricted.

Net

assets

areconsidered

restricted

when

(I)an

external

party,such

asthestateor

federalgovernment,

places

arestriction

onhow

theresources

may

beused,

or(2)enabling

legislation

isenacted

bytheVillage.

Page 73: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

VILLAGEOFHOMERGLEN,ILLINOIS

CHANGEIN

NETASSETS

LastTenFiscalYears

FiscalYear

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

Expenses

PrimaryGovenunentlG

ovenunentalActivities

Generalgovernment

Publicsafety

Building

Highw

aysandstreets

Cultureandrecreation

s580,451

$988,514s

1,342,664s

1,624,433s

1,845,939s

2,472,786s

2,547,421s

2,797,616

2,341,976

2,304,253

2,437,583

2,653,975

2,804,030

3,053,374

3,258,898

3,344,424

8,780

319,033

321,058

384,753

454,805

460,203

430,456

414,521

2,464,718

2,654,649

2,871,332

2,252,932

2,454,143

2,393,694

2,110,419

3,603,112

3,584

11,707

13,467

33,425

59,741

35,907

62,463

61,427

2,260,549

3,496,309

370,340

2,122,057

59,026

2,018,581

3,737,634

335,560

2,093,884

240,245

TotalPrimaryGovenunentlG

ovenunentalActivitiesExpenses

5,399,509s

6,278,156s

6,~86,!9"_s

6,949,518

$7,618,658s

8,415,964s

8,409,657s

10,221,100

s8,308,281s

8,425,904

Program

Revenues

PrimaryGovenunentlG

ovenunentalActivities

ChargesforServices

Generalgovenunent

Highw

aysandstreets

OperatingGrantsandContributions

Generalgovernment

Cultureandrecreation

CapitalG

rantsandContributions

Generalgovenunent

Cultureandrecreation

132,840

880,375

717,580

1,153,567

1,026,670

1,174,061

1,307,635s

1,037,219

1,209,519s

1,196,295

1,032,351

1,384,192

903,089

1,219,817

785,615

1,303,197

835,381

1,286,867

813,893

1,270,401

109,720

481,827

219,772

279,454

204,889

341,604

114,767

73,342

75,000

50,000

78,470

12,805

10,816

615,635

818,460

29,770

62,774

w VITotalPrimaryGovernm

ent/TotalGovernm

entalA

ctivitiesProgramRevenues

s1,122,935s

2,352,974s

2,420,503s

2,624,308s

2,621,519s

3,373,782s

3,106,133s

2,266,924s

2,200,718s

2,159,873

TotalPrimaryGovenunentNet(Expense)Revenue

(4,276,574)s

(3,925,182)s

(4,565,601)s

(4,325,210)s

(4,997,139)s

(5,042,182)s

(5,303,524)s

(7,954,176)s

(6,107,563)s

(6,266,031)

Page 74: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

VILLAGEOFHOMERGLEN,ILLINOIS

CHANGEIN

NETASSETS

LastTenFiscalYears

FiscalYear

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

Gen

eral

Rev

enue

san

dO

ther

Cha

nges

InN

etA

sset

sGovenunentalA

ctivities

Intergovernm

ental

InvestmentEarnings

Oth

erin

com

e

TotalPrimaryGovenunentiG

ovenunentaiActivities

s

3,348,563s

3,527,933

$3,941,855s

5,014,789s

5,516,675s

5,732,705

$5,550,988s

6,850,402s

8,295,630s

8,913,458

20,497

26,137

37,301

113,162

244,669

271,507

143,997

99,269

69,161

44,343

1,107

743

214,180

234,284

479,764

336,882

266,146

217,921

86,145

49,045

3,370,167s

3,554,813s

4,193,336s

5,362,235

$6,241,108s

6,341,094s

5,961,131s

7,167,592s

8,450,936s

9,006,846

(906,407)s

(370,369)s

(372,265)s

1,037,025s

1,243,969s

1,298,912s

657,607s

(786,584)s

2,343,373s

2,740,815

Gov

enun

enta

lAct

ivit

ies

Donations

ofcapitalassets

TotalPrimaryGovenunentChangeinNetAssets

~06,407)s

(370,369)s

(372,265)s

1,037,025s

1,243,969s

1,298,912s

657,607s

(786,584)s

2,343,373s

2,740,815

~ AuditedFinancialStatements

W 0'1

Not

.:Net(expense)/revenueisthedifferenoebetweentheexpenses

andprogramrevenuesofafunctionorprogram.

Itindicatesthedegreetowhich

afunctionorprogramissupportedwith

itsow

nfeesandprogram-specificgrantsversus

itsr

elia

nceu

pon

fund

ingf

rom

taxe

san

dot

herg

ener

alre

venu

es.N

umbe

rsin

pare

nthe

sesi

ndic

atet

hate

xpen

sesw

ere

greaterthanprogramrevenuesandthereforegeneralrevenueswereneeded

tofinancethatfunctionorprogram.Num

bers

wit

hout

pare

nthe

sesm

ean

that

prog

ram

reve

nues

wer

emor

eth

ansu

ffic

ient

toco

ver

expe

nses

.

Page 75: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

VILLA

GE

OFHOMER

GLE

N,ILLINOIS

FUND

BALA

NCES

OFGOVER

NMEN

TAL

FUNDS

Last

TenFiscal

Years

2003

2004

2006

Fiscal

Year

2007

2008

2012

2009

2010

2011

2005

General

Fund

Unreserved

Unassigned

TotalGeneral

Fund

W -.J

AllOther

Governm

ental

Funds

Designated

forintergovernm

enta1

agreem

ents

Designated

forcapitalprojects

Reserved

for:

Highw

ays

andstreets

Parks

Capitalprojects

Restricted

for:

Highw

ays

andstreets

Parks

Assignedto:

Parks

Capitalprojects

TotalAllOther

Governenm

tal

Funds

DataSource

AuditedFinancialStatem

ents

$$

(31,944)

$425,849

$1,471,033

$2,451,594

$2,734,745

$2,735,836

$3,459,914

$(20,970)

$

4,726,786

5,692,440

$(20,970)

$(31,944)

$425,849

$1,471,033

$2,451,594

$2,734,745

$2,735,836

$3,459,914

$4,726,786

$5,692,440

$-

$-

$-

$-

$-

$200,000

$318,915

$423,830

$$

459,958

749,625

991,495

1,143,121

1,480,580

1,699,262

917,882

890,813

1,076,178

82,385

393,340

592,637

852,269

855,456

710,125

646,640

703,502

221,995

648,494

1,213,253

1,150,399

715,401

1,400,114

1,701,009

380,008

124,014

641,930

709,730

2,626,423

4,976,649

$832,010

$1,384,835

$1,735,758

$2,554,844_$

3,203,212

$3,041,260

$3,006,767

$3,378,869

$5,048,475

$7,511,402

TheDistrict

beganto

classify

fund

balances

inaccordance

with

therequirements

ofGASB

54with

theyear

ended4/30/11.

Page 76: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

VILLA

GE

OFHOMER

GLE

N,ILLINOIS

CHANGES

INFU

ND

BALA

NCES

OFGOVER

NMEN

TAL

FUNDS

LastTenFiscal

Years

2003

2004

Fiscal

Year

2007

2008

2011

2012

Revenues

Intergovernm

ental

Licenses,fees

andpermits

Contributions

Grants

Investmentincome

Other

s4,228,938

s132,840

90,484

19,236

20,497

1,107

4,493,102

569,566

2,339,156

8,780

1,109,764

3,584

72,566 -

4,103,416

TotalRevenues

2005

2006

2009

2010

4,681,500

s5,115,916

$6,052,008

s6,712,970

$7,116,897

$6,770,805

s8,153,599

$9,553,727

$10,183,859

717,580

1,026,670

1,307,635

1,209,519

1,032,351

903,089

785,615

835,381

813,893

307,818

188,849

257,287

204,889

311,194

114,767

148,342

173,674

30,923

22,167

-77,635

341,095

29,770

78,470

75,579

26,137

37,301

113,162

244,669

271,507

143,997

99,269

69,161

44,343

1,078

25,722

234,284

479,764

343,292

266,146

217,921

114,915

49,045

5,907,787

6,425,381

7,986,543

8,851,811

9,152,876

8,539,899

9,434,516

10,651,654

11,166,719

Expenditures

w 00

General

government

Public

safety

Building

Highw

aysandstreets

Culture

andrecreation

Capitaloutlay

Debtserviceprincipal

TotalExpenditures

973,015

1,319,630

1,562,520

1,797,982

2,382,473

2,186,160

2,261,834

1,933,252

2,299,638

2,413,224

2,629,616

2,796,921

3,086,132

3,207,710

3,310,882

3,436,319

319,033

321,058

384,753

481,404

460,203

430,456

414,521

370,340

1,299,695

1,327,920

1,355,257

1,616,388

1,435,101

1,442,058

1,480,187

1,471,862

11,707

13,467

33,425

54,563

23,306

18,650

9,689

14,410

462,848

221,366

156,702

475,624

1,644,462

1,288,267

761,223

438,993

100,000

50,000

5,365,936

5,616,665

6,122,273

7,222,882

9,031,677

8,573,301

8,338,336

7,715,176

1,829,801

3,599,402

333,612

1,481,707

123

393,493

100,000

7,738,138

Excess

ofRevenuesover

(under)

Expenditures

389,686

541,851

808,716

1,864,270

1,628,929

121,199

(33,402)

1,096,180

2,936,478

3,428,581

Other

financing

Sources(Uses)

TransfersIn

TransfersOut

220,000

425,000

350,000

285,000

559,958

1,600,000

2,500,000

(220,000)

(425,000)

(350,000)

(285,000)

(559,958)

(1,600,000)

(2,500,000)

TotalOther

FinancingSources(Uses)

NetChangeinFund

Balances

s389,686

s541,851

$808,716

s1,864,270

$1,628,929

s121,199

s(33,402)

s1,096,180

$2,936,478

$3,428,581

DebtServiceas

aPercentage

ofNoncapitalExpenditures

0.00%

1.36%

DataSource

AuditedFinancialStatem

ents

0.00%

0.00%

0.00%

0.00%

0.00%

0.00%

1.30%

0.69%

Page 77: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

VILLAGE OF HOMER GLEN, ILLINOIS

INTERGOVERNMENTAL REVENUES BY SOURCE

Last Ten Fiscal Years

Fiscal State State State MotorYear Sales Income Use Fuel Total

2012 $ 5,776,158 $ 2,052,065 $ 353,493 $ 731,742 $ 8,913,4582011 5,238,734 1,940,015 357,233 759,648 8,295,6302010 3,963,978 1,936,492 300,677 649,255 6,850,4022009 2,374,212 2,168,781 351,201 656,794 5,550,9882008 2,437,927 2,269,012 337,669 688,097 5,732,7052007 2,412,532 2,077,169 311,733 715,241 5,516,6752006 2,149,928 1,862,857 290,571 711,433 5,014,7892005 1,453,595 1,591,619 236,850 659,791 3,941,8552004 1,334,328 1,343,665 216,595 633,345 3,527,9332003 1,062,995 1,448,540 202,303 634,725 3,348,563

Data Source

Audited Financial Statements

39

Page 78: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

VILLAGEOFHOMERGLEN

GOVERNMENTALOWN-SOURCER

EVENUES

LastTenFiscal

Years

2003

2004

2005

2006

Fiscal

Year

2007

2008

2009

2010

2011

2012

Licenses,Permits

andFees

$132,840

$717,580

$1,026,670

$1,307,635

$1,209,519

$1,032,351

$903,089

$785,615

$835,381

$813,893

.j::.

DataSource

oAuditedFinancialStatem

ents

Page 79: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

VILLAGE OF HOMER GLEN, ILLINOIS

DIRECT AND OVERLAPPING BONDED DEBT

AS OF APRIL 30, 2009

GOVERNMENTAL UNITDEBT

OUTSTANDING

ESTIMATEDPERCENTAGEAPPLICABLE I

ESTIMATEDSHARE OF

OVERLAPPINGDEBT

Will CountyWill County FPDHomer TownshipSchool Dist #33CSchool Dist #122School Dist #92School Dist #205Comm Coil Dist #525Village of Homer Glen

$2,840,000185,594,5324,095,000155,000

128,721,8677,596,03115,979,147167,220,986

o

4.77% $135,4124.77% 8,849,21568.75% 2,815,35372.55% 112,4570.20% 258,46831.09% 2,361,95040.96% 6,545,4414.92% 8,224,859

10o.o0% ~0

Total Overlapping General Obligation Bonded Debt: $29,303,155

Debt per capita: $1,169

Most recent data available

Note: Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the city. This schedule estimatesthe portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses of the Village of HomerGlen. This process recognizes that, when considering the government's ability to issue and repay long term debt, the entire debtburden borne by the residents and businesses should be taken into account. However, this does not imply that every taxpayer is aresident, and therefore responsible for repaying the debt, of each overlapping government.

I The percentage of overlapping debt applicable is estimated using taxable assessed property values. Applicable percentage were estimatedby determining the portion ofthe county's taxable assessed value that is within the government's boundaries and dividing it by the county'stotal taxable assessed value.

41

Page 80: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

VILLAGEOFHOMER

GLEN,ILLINOIS

DEMOGRAPHIC

ANDECONOMIC

INFORMAnON

LastTenFiscalYears

Per

Capita

Fiscal

Personal

Median

School

Unemployment

Year

Population

Income

Age

Enrollment

Rate

2012

24,220

Notavailable

39.0

Notavailable

Notavailable

2011

24,220

Notavailable

39.0

Notavailable

Notavailable

2010

25,069

Notavailable

39.0

Notavailable

Notavailable

2009

25,069

Notavailable

39.0

Notavailable

Notavailable

2008

24,083

Notavailable

39.0

Notavailable

4.80%

2007

24,083

Notavailable

39.0

Notavailable

3.70%

2006

24,083

Notavailable

39.0

Notavailable

3.30%

2005

24,083

Notavailable

39.0

Notavailable

4.70%

2004

22,269

Notavailable

Notavailable

Notavailable

4.90%

2003

22,269

Notavailable

Notavailable

Notavailable

Notavailable

.l:>-

tv

DataSource

U.s.CensusBureau,SpecialCensus

TheVillagewasnotinexistenceatthetimeofthelastcensus.Aspecialcensuswasconductedinfiscalyear2005

thatprovidedonlycertaindemographicinformation.

Page 81: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

VIL

LAG

EO

FH

OM

ERG

LEN

,IL

LIN

OIS

FULL

-TIM

EEQ

UIV

ALE

NT

EMPL

OY

EES

Last

Ten

Fisc

alY

ears

..,.

w

Fisc

alY

ear

Func

tion/

Prog

ram

20

03

20

04

20

05

20

06

20

07

20

08

20

09

20

10

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11

20

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Gen

eral

gove

rnm

ent

Gen

eral

3.

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Page 82: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

VILLA

GE

OFHOMER

GLE

N,ILLINOIS

CAPITA

LASSET

STATIST

ICS

Last

TenFiscal

Years

Fiscal

Year

Function/Program

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

General

government

General

$86,666

$102,025

$95,725

$95,725

$95,725

$59,282

$59,282

$76,674

$123,866

$131,188

Building

departm

ent

34,635

53,343

71,142

71,142

71,142

71,142

71,142

71,142

Public

safety

107,697

107,697

107,697

138,108

182,267

182,267

190,819

209,103

217,653

Highw

ays

andstreets

29,824,126

30,163,700

30,355,476

30,454,986

30,762,472

31,978,154

32,686,234

32,985,657

33,316,251

33,419,886

Culture

andrecreation

217,899

1,074,072

2,147,137

2,448,428

2,547,409

2,800,423

$29,910,792

$30,373,422

$30,593,533

$30,711,751

$31,285,346

$33,364,917

$35,146,062

$35,772,720

$36,267,771

$36,640,292

.j::

:..

.j::

:..

DataSource

VillageFinanceDepartment

Page 83: Village of Homer Glen, Illinois - gfoa.netgfoa.net/cafr/COA2012/HomerGlenIL.pdf · Village of Homer Glen arc both organized and operated on the ... updates to the Village's zoning

VILLAGE OF HOMER GLEN, ILLINOIS

OPERATING INDICATORS BY FUNCTION

Last Two Fiscal Years

FunctionlProgram 2011 2012

General governmentBuilding department

Commerical permitsResidental permitsOther building permits

2217

837

3710

1,158

Public safetyPolice (per Will County Sheriff)

Parking violationsTraffic violations

1822,807

1602,200

Highways and streetsStreets (per Homer Township Road & Bridge District)

Street resurfacing (miles) 5.37 4.66Potholes repaired 40 NA

Data source: The Village subcontractors for the Police and Street Services' records.

Most recent data available

NA - Information not available

45