Joint Review Board Packet 2010 06-08-10 (Fox Industrial) AGENDA
ANNUAL JOINT REVIEW BOARD OF THE UNITED CITY OF YORKVILLE
FOR THE FOX INDUSTRIAL PARK REDEVELOPMENT PROJECT AREA
June 8, 2010 United City of Yorkville, City Hall 1:30 p.m.
800 Game Farm Road, Yorkville, Illinois
1. Roll Call United City of Yorkville
Kendall Township
Kendall County
Waubonsee Community College Dist. #516
Yorkville School District#115
Bristol-Kendall Fire Protection District
Bristol Township
2. Call Meeting to Order
3. Motion to elect or re-elect Public Member
4. Motion to elect or re-elect Chairperson
5. Review of Annual Report(s) for Fox Industrial Park Redevelopment Project Area
6. Adjournment
NOTICE OF MEETING OF JOINT REVIEW BOARD
Kendall Township Kendall County
9513 Walker Road 111 West Fox Street
Yorkville, Illinois 60560 Yorkville, Illinois 60560
Waubonsee Community College Dist. #516 Yorkville School District#115
Route 47 at W aubonsee Drive 602 Center Parkway,#A
Sugar Grove, Illinois 60554 Yorkville, Illinois 60560
Bristol-Kendall Fire Protection District United City of Yorkville
103 East Beaver Street 800 Game Farm Road
Yorkville, Illinois 60560 Yorkville, Illinois 60560
Bristol Township
9075 Corneils
Bristol, Illinois 60512
YOU ARE HEREBY NOTIFIED that a meeting of the annual Joint Review Board(s) to
review the annual report(s) for the Fox Industrial Park, Downtown, and US Route 34/IL Route 47
Countryside Shopping Center Tax Increment Financing Redevelopment Project Areas will be
convened on June 8, 2010 at 1:30 p.m. at the United City of Yorkville, City Hall, 800 Game Farm
Road, Yorkville, Illinois 60560.
PLEASE BE ADVISED that the Joint Review Board(s) shall elect or re-elect a public
member as well as a chairperson. In accordance with the provisions of the Tax Increment
Allocation Redevelopment Act (the "Act") (65 ILCS 5/11-74.1-1, et seq.), the Joint Review
Board(s) shall review the annual report(s) for the Fox Industrial Park, Downtown, and US Route
34/IL Route 47 Countryside Shopping Center Redevelopment Project Areas.
/s/Jackie Milschewski, Village Clerk
LAW OFFICE
KATHLEEN FIELD ORR & AssOCIATEs
180 NORTH MICHIGAN AVENUE
SUITE 1040
Cmir-ACo, ILLINOIS 6o6ai
(312) 382.2113
KATHLEEN FIELD ORR FAX: {312) 332.2127 LISA GAGLIANO BERNSTEIN
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November 12, 2009
Daniel W. Hynes, State Comptroller
State of Illinois Building
100 West Randolph Street
Suite 15-500
Chicago, Illinois 60601
Re: Fox Industrial Park Area Tax Increment Finance Redevelopment Project Area
for the Fiscal Year Ending April 30, 2009
Dear Sir:
I, Kathleen Field Orr, am the Tax Increment Financing attorney for the United City of
Yorkville, Kendall County, Illinois, and have been such throughout the fiscal year covered by
this Report.
I reviewed all of the information provided to me by the City Administration and I find
that the United City of Yorkville, Illinois, has conformed with all of the applicable provisions of
the Illinois Tax Increment Allocation Redevelopment Act.
This opinion relates only to the time periods set forth and is based on all information
available to me at the end of said fiscal year.
Very truly yours,
KATHLEEN FIELD ORR& ASSOCIATES
K HLEEN FIEL ORR
KFO/kms
,�Ea Clpy
Jz� p United City of Yorkville
800 Game Farm Road
1836 Yorkville, Illinois, 60560
0 I" Telephone: 630-553-4350
CERTIFICATION OF CHIEF EXECUTIVE OFFICER
I, Valerie Burd, Mayor of the United City of Yorkville, Kendall County, Illinois, certify that
the City has complied with all of the requirements of the Tax Increment Allocation Redevelopment
Act, 65 ILCS 5111-74.4-1 et seq. during the fiscal year ending April 30, 2009, in connection,with the
administration of the Fox Industrial Park Area Tax Increment Financing District.
Valerie Burd, Mayor
DANIEL w HY Es FY 2009
0CDMF'TROLLER
www.ioc.etate.11.us ANNUAL TAX INCREMENT FINANCE REPORT
Name of Municipality United City of Yorkville Reporting Fiscal Year 2009
Unifi Code 047/035/30 Fiscal Year End 4/30/2009
County KENDALL
T1F Adrriinis#r4or Cootie nformatioii
First Name: I JSusan Mika,City Administrator
Address: 800 Game Farrn Road
City: Yorkville, Illinois Zip; 60560
Telephone: (630)553-4350 i -M Hi
1 attest to the best of my knowledge, this report of the redevelopment project areas in:
United City of Yorkville City
is complete and accurate at the end of this reporting fiscal year under the Tax Increment Allocation
Redevelopment Act[65 ILCS 5111-74.4-3 et. seq.]
Or the Industrial Jobs Recovery Law[65 ILCS 5111-74.6-10 et. seq.]
C,- X111+ • 0- 1-n
Written signature of TIF Administrator Date
Section 1 (65 ILCS 5111-74.4-5(d) (1.5)and 65 ILCS 5111-74.6-22(d)(1.5)x)
FI(L'OUT ONLY ONCE(PER MUNICIPALITY),ADD ADDITIONAIL ROWS AS NECESSARY
Name of Redevelopment Project Area Date Designated Date Terminated
Downtown Yorkville 611312006
Fox Industrial Park 5/10/2001
U.S.Route 34 2/15/2005
'All statutory citations refer to one of two sections of the Illinois Municipal Code: the Tax Increment Allocation Redevelopment Act[65 ILCS 5111-74.4-3
eL seq.]or the Industrial Jobs Recovery Law 165 ILCS 5/11-74.6-10 et.seq.]
100 West Randolph Street,Sulte 15-500
Chicago.lllinois 60601-3252
Tel:(B77)304-3899 Fax:(312)6142986
.wa�a+nr
SECTION 2[Sections 2 through 5 must be completed for each redevelopment project area listed in Section 1.1
Name of Redevelopment Project Area: Fox Industrial Park Area
Primary Use of Redevelopment Project Area*: Industrial
If"Combination/Mixed" List Component Types: NIA
Under which section of the Illinois Municipal Code was Redevelopment Project Area designated? (check one):
Tax Increment Allocation Redevelopment Act X Industrial Jobs Recovery Law
No Yes
Were there any amendments to the redevelopment plan, the redevelopment project area, or the State
Sales Tax Boundary? (65 ILCS 5111-74.4-5 (d) (1)and 5111-74.6-22 (d) (1)]
If yes, please enclose the amendment labeled Attachment A X
Certification of the Chief Executive Officer of the municipality that the municipality has complied with all of
the requirements of the Act during the preceding fiscal year. [65 ILCS 5111-74.4-5 (d) (3) and 5111-74.6-
22 (d) (3)]
Please enclose the CEO Certification labeled Attachment B X
Opinion of legal counsel that municipality is in compliance with the Act. [65 ILCS 5111-74.4-5 (d) (4) and
5111-74.6-22(d) (4)]
Please enclose the Legal Counsel Opinion labeled Attachment C X
Were there any activities undertaken in furtherance of the objectives of the redevelopment plan, including
any project implemented in the preceding fiscal year and a description of the activities undertaken? [65
ILCS 5111-74.4-5 (d) (7) (A and B) and 5111-74.6-22(d) (7) (A and B)]
If yes, please enclose the Activities Statement labeled Attachment D X
Were any agreements entered into by the municipality with regard to the disposition or redevelopment of
any property within the redevelopment project area or the area within the State Sales Tax Boundary? [65
ILCS 5111-74.4-5 (d) (7) (C) and 5111-74.6-22 (d) (7) (C)]
If yes, please enclose the Agreement(s) labeled Attachment E X
Is there additional information on the use of all funds received under this Division and steps taken by the
municipality to achieve the objectives of the redevelopment plan? (65 ILCS 5111-74.4-5 (d) (7) (D) and
5111-74.6-22(d) (7) (D)]
If yes, please enclose the Additional Information labeled Attachment F X
Did the municipality's TIF advisors or consultants enter into contracts with entities or persons that have
received or are receiving payments financed by tax increment revenues produced by the same TIF? [65
ILCS 5111-74.4-5 (d) (7) (E) and 5111-74.6-22 (d) (7) (E)]
If yes, please enclose the contract(s) or description of the contract(s) labeled Attachment G X
Were there any reports submitted to the municipality by the joint review board? [65 ILCS 5/11-74.4-5 (d)
(7) (F) and 5111-74.6-22(d) (7) (F)]
If yes, please enclose the Joint Review Board Report labeled Attachment H X
Were any obligations issued by municipality? [65 ILCS 5111-74.4-5 (d)(8) (A) and
5111-74.6-22(d) (8) (A)]
If yes, please enclose the Official Statement labeled Attachment I X
Was analysis prepared by a financial advisor or underwriter setting forth the nature and term of obligation
and projected debt service including required reserves and debt coverage? [65 ILCS 5/11-74.4-5 (d) (8)
(B) and 5111-74.6-22 (d) (8) (B)]
If yes, please enclose the Analysis labeled Attachment J X
Cumulatively, have deposits equal or greater than $100,000 been made into the special tax allocation
fund?65 ILCS 5111-74.4-5 (d) (2)and 5111-74.6-22(d) (2)
If yes, please enclose Audited financial statements of the special tax allocation fund `l
labeled Attachment K 7+
Cumulatively, have deposits of incremental revenue equal to or greater than $100,000 been made into
the special tax allocation fund? 65 ILCS 5111-74.4-5 (d) (9) and 5111-74.6-22 (d) (9)
If yes, please enclose a Certified audit report reviewing compliance with the Act labeled
Attachment L
`Types include: Central Business District, Retail, Other Commercial, Industrial, Residential, and Combination/Mixed.
FY 2009 TIF Name: Fox Industrial Paris Area
SECTION 3.1 - (65 ILCS 5111-74.4.5(d) (5) and 65 ILCS 5111.74.6-22 (d) (5))
Provide an analysis of the special tax allocation fund.
Reporting Year Cumulative
Fund Balance at Beginning of Reporting Period $ 183,227.00
Revenue/Cash Receipts Deposited in Fund During Reporting FY:
% of Total
Property Tax Increment $ 207,398 $ 653,073 97%
State Sales Tax Increment 0%
Local Sales Tax Increment 0%
State Utility Tax Increment 0%
Local Utility Tax Increment 0%
Interest $ 1,504 $ 21,461 3%
Land/Building Sale Proceeds 0%
Bond Proceeds 0%
Transfers from Municipal Sources 0%
Private Sources 000
Other(identify source ; if multiple other sources, attach
schedule) 0%
Total Amount Deposited in Special Tax Allocation
Fund During Reporting Period $ 208,902
Cumulative Total Revenues/Cash Receipts $ 674,534 100%
Total Expenditures/Cash Disbursements (Carried forward from Section 3.2) $ 106,486.00
Distribution of Surplus $
Total Expenditures/Disbursements $ 106,486
NET INCOMEXASH RECEIPTS OVER/(UNDER) CASH DISBURSEMENTS $ 102,418
FUND BALANCE, END OF REPORTING PERIOD $ 285,643
-if there is a positive fund balance at the end of the reporting period, you must complete Section 3.3
FY 2009 TIF Name �T dkko+f (L(
SECTION 3.2 A-(65 ILCS 5111-74.4-5(d)(5)and 65 ILCS 5111-74.6-22(d)(5))
ITEMIZED LIST OF ALL EXPENDITURES FROM THE SPECIAL TAX ALLOCATION FUND
(by category of permissible redevelopment cost,amounts expended dunng reporting period)
FOR AMOUNTS>$5,000 SECTION 3.2 B MUST BE COMPLETED
Category of Permissible Redevelopment Cost(65 ILCS 511i-74.4-3(q)and 65 ILCS 5111-74.6-10(o]]
1.Costs of studies,administration and professional services—Subsections 1 and o 1 Reporting Fiscal Year
Administrative Fees 25.931
3
2.Cost of marketing sites—Subsections 1.8 and o 1.6 25,93i
-
3. Property assembly, demolition, site preparation and environmental site improvement costs. $
Subsection 2,Co H2)and o 3
5 -
4. Costs of rehabilitation. reconstruction, repair or remodeling and replacement of existing pu lic
buildings.Subsection 3 and(0)(4)
5.Costs of construction of public works and improvements.Subsection 4 and(o)(5) $
5
6. Costs of removing contaminants required by environmental laws or rules(o)(6)-Industrial Jobs
Recovery TIFs ONLY
$
FY 2009 TIF Name.Fox Industrial Park Area
7 Cost of lob training and retraining,including"welfare to work"programs Subsection(q)(5), (0)(7)
and(o)(12)
S
5.FinancinQ costs.Subsection B and(o)(8)
Debt Service Payments 80,555
9.Approved capital costs.Subsection and(o)(9) S 80,555
3
10. Cost of Reimbursing school districts for their increased costs caused by TIP assisted housing
projects Subsection 7 5 -Tax Increment Allocation Redevelo ment TIFs ONLY
S
11.Relocation costs.Subsection B and o 10
5 -
12.Payments in lieu of taxes.Subsection 9 and(o)(1 1
-
13. Costs of Job training, retraining advanced vocational or career education provided by other $
taxing bodies.Subsection 10 and o 12
3
FY 2009 TIF Name.Fox Industria[Park Area
14. Costs of reimbursing private developers for interest expenses incurred on approved
redevelopment erojects.Subsection 11)(A-E)and(o)(1 3 A-g
S -
15. Costs of construction of new housing units for low income and very low-Income households
Subsection 11 F -Tax Increment Allocation Redevelopment TIFs ONLY
a
16 Cost of day care services and operational costs of day care centers.Subsection(q)(11.5)-Tax
Increment Allocation Redevelopment TIFs ONLY
a
TOTAL ITEMIZED EXPENDITURES $ '106.486
FY 2009 TIF Name.Fox Industrial Park Area
Section 3.2 B
List all vendors, including other municipal funds,that were paid in excess of$5,000 during the current
reporting year.
_Xi There were no vendors, including other municipal funds, paid in excess of$5,000
during the current reporting period.
Name Service Amount
General Fund Reimbursement for in Town Road
Work Completed $ 25,680.00
FY 2009 TIF Name: Fox Industrial Park Area
SECTION 3.3 -(65 ILCS 5111-74.4.5 (d) (5) 65 ILCS 11-74.6-22 (d) (5))
Breakdown of the Balance in the Special Tax Allocation Fund At the End of the Reporting Period
(65 ILCS 5111-74.4-5 (d) (5) (D) and 65 ILCS 5111-74.6-22 (d) (5) (D))
FUND BALANCE, END OF REPORTING PERIOD $ 285.643
Amount of Original
Issuance Amount Designated
1. Description of Debt Obligations
Bonds for Infrastructure $ 280,000 $ 313,072
Total Amount Designated for Obligations Is 280,000 S 313,072
2. Description of Project Costs to be Paid
Total Amount Designated for Project Costs $ -
TOTAL AMOUNT DESIGNATED Is 313,072
SURPLUS-/(DEFICIT) $ (27,429)
NOTE: If a surplus is calculated, the municipality may be required to repay the amount to overlapping taxing
FY 2009 T1F Name: Fox Industrial Park Area
SECTION 4 [65 ILCS 5/11-74.4-5 (d) (6)and 65 ILCS 5/11-74.6-22(d) (6)]
Provide a description of all property purchased by the municipality during the reporting fiscal year within the
__X_ No property was acquired by the Municipality Within the Redevelopment Project Area
Property Acquired by the Municipality Within the Redevelopment Project Area
Property(1):
Street address
Approximate size or description of property:
Purchase price:
Seller of property:
Property (2):
Street address
Approximate size or description of property
Purchase price:
Seller of property:
Property (3):
Street address
Approximate size or description of property:
Purchase price:
Seiler of property:
Property(4):
Street address
Approximate size or description of property:
Purchase price:
Seller of property:
FY 2009 TIF Name: Fox Industrial Park Area
SECTION 5-65 ILCS 5111-74.4-5(d)(7)(G)and 65 ILCS 5111-74.6-22(d)(7)(G)
Please include a brief description of each project,
No Projects Were Undertaken by the Municipality Within the Redevelopment Project Area
Estimated
Investment for
Subsequent Fiscal Total Estimated to
1111199 to pate Year Complete Project
TOTAL:
Private Investment Undertaken See Instructions $ $ _ $
Public Investment Undertaken $ $ $
Ratio of Private/Public Investment 0 0
Project 1:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 2:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 3:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 4:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 5:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 6:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public.Investment 0 0
Project 7:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
FY 2009 TIF Name:Fox Industrial Park Area
Project 8:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 9:
Private Investment Undertaken See Instructions)
Public Investment Undertaken
Ratio of PrivatelPublic Investment 0 0
Project 10:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 11:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 12:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 13:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of PrivatelPublic Investment 0 0
Project 14:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 15:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 16:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of PrivatelPublic Investment 0 0
FY 2009 TIF Name:Fox Industrial Park Area
Project 17:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 18:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of PrivatelPublic Investment 0 0
Project 19:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 20:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of PriivalelPublic Investment 0 0
Project 21:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 22:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 23:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
Project 24:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public;Investment 0 0
Project 25:
Private Investment Undertaken See Instructions
Public Investment Undertaken
Ratio of Private/Public Investment 0 0
FY 2009 TIF Name:Fox Industrial Park Area
Optional: Information in the following sections is not required by law, but would be helpful in evaluating the
performance of TIF in Illinois.
SECTION 6
Provide the base EAV(at the time of designation)and the EAV for the year reported for the redevelopment project area
Year redevelopment
project area was Reporting Fiscal Year
designated Base EAV EAV
$ - $ -
List all overlapping tax districts in the redevelopment project area.
If overlapping taxing district received a surplus, list the surplus.
The overlapping taxing districts did not receive a surplus.
Surplus Distributed from redevelopment
Overlapping Taxing District project area to overlapping districts
$
$
$ -
SECTION 7
Provide information about job creation and retention
Description and Type
Number of Jobs Number of Jobs (Temporary or
Retained Created Permanent)of Jobs Total Salaries Paid
$
$
SECTION B
Provide a general description of the redevelopment project area using only major boundaries,
Optional Documents E=nclosed
Legal description of redevelopment project area
Map of District
FY 2009 TIF Dame- Fox Industrial Park Area
UNITED CITY OF YORKVILLE,ILLINOIS
Schedule of Revenues,Expenditures and
Changes in Fund Balance-Budget and Actual
Fox Industrial TIF Fund
For the Year Ended April 30,2009
Variance from
Final Budget
Budget Actual Over(Under)
Revenues
Property Taxes $ 200,863 207,398 6,535
Investment Income 1,800 1,504 296)
Total Revenues 202,663 208,902 6,239
Expenditures
Current
Community Development
Administration Fees 375 251 (124
Debt Service
Principal 65,000 65,000
Interest 15,555 15,555
Total Debt Service 80,555 80,555 -
Total Expenditures 80,930 80,806 (124)
Other Financing Uses
Transfers Out 25,680) 25,680
Net Change in Fund Balance 96,053 102,416 6,115
Fund Balance at Beginning of Year 183,227 183,227
Fund Balance at End of Year S 279 280 285,643 6,115
92
UNITED CITY OF YORKVILLE,ILLINOIS
Notes to the Financial Statements(Cont)
April 30.2009
5. Changes in Long-Term Debt(Cont.)
Governmental activities:
General Obligation and Alternate Revenue Source Bonds
Series of2002
$625,000 payable to BNY Midwest Trust Company at an interest rate ranging from 3.00% to 4.75% and
maturing December 2012. Payable from For Industrial(Special Revenue)Fund.
Debt service to maturity is as follows:
Year
Ended
April 30 Princi al Interest Total
2010 S 65,000 12,793 77,793
2011 70,000 9,933 79,933
1.012 70,000 6,783 76,783
2013 75,000 3,563 78,563
S 200,000 33,072 _313,072
Series of 2005
$3,525,000 payable to BNY Midwest Trust Company at an interest rate ranging from 3.50% to 4.35%and
maturing December 2024. Payable from Countryside TIT(Special Revenue)Fund.
Debt service to maturity is as follows:
Year
Ended
April 30 Princi al Interest Total
2010 $ 165,000 142,868 307,868
2011 170,000 137,093 307,093
2012 175,000 131,143 306,143
2013 180,000 124,668 304,668
2014 185,000 117,738 302,738
2015-2019 I,050,000 471,813 1,521,813
2020-2024 1,300,000 236,485 1,536,485
2025 300,000 13,050 3I3,050
$ 3,525 000 1,374,858 4.999,858
43
United City of Yorkville,
Illinois
Fox Industrial
Tax Increment Financing
Report on Compliance
With Illinois Public Act 85-1142
For the Year Ended
April 30,2009
Wolf & Company LLP
Certified Public Accountants
INDEPENDENT AUDITOR'S REPORT
Wolf Company LLP XVIZ
A Wolf Financial Group lylember
SCHEDULE L
INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE
The Honorable Mayor
Members of the City Council
United City of Yorkville,Illinois
We have audited the basic financial statements of the United City of Yorkville, Illinois for the year ended
April 30,2009,and have issued our report thereon dated October 28,2009.
We have also audited the Village's compliance with the provisions of subsection(q)of Section 11-74.4-3 of
the Illinois Tax Increment Redevelopment Allocation Act(Illinois Public Act 85-1142). The management
of the United City of Yorkville, Illinois is responsible for the City's compliance with those requirements.
Our responsibility is to express an opinion on compliance with those requirements.
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America. Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether material noncompliance with the requirements referred to above occurred. An audit includes
examining, on a test basis, evidence about the United City of Yorkville, Illinois' compliance with those
requirements. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the United City of Yorkville, Illinois complied, in all material respects, with the
requirements of subsection (q) of Section 11-74.4-3 of the Illinois Tax Increment Redevelopment
Allocation Act(Illinois Public Act 85-1142).
Oak Brook,Illinois
October 28,2009
1
2100 Clearwater Drive • Oak Brook, Illinois 60523-1927
630.545.4500.Warn • 630.574.7818 f sx • www.wolfcpa.com
SUPPLEMENTARY INFORMATION
Wolf Company LLP NAZ
A Wolf Financial Group Alember
INDEPENDENT AUDITOR'S REPORT
ON SUPPLEMENTARY INFORMATION
The Honorable Mayor
Members of the City Council
United City of Yorkville,Illinois
We have audited the basic financial statements of the United City of Yorkville, Dlinois for the year ended
April 30,2009,and have issued our report thereon dated October 28,2009. The financial statements are the
responsibility of the United City of Yorkville, Illinois' management. Our responsibility is to express an
opinion on the basic financial statements based on our audit.
Our audit was made in accordance with auditing standards generally accepted in the United States of
America. Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts, and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our audit provides a reasonable
basis for our opinion.
Our audit was made for the purpose of forming an opinion on the basic financial statements of the United
City of Yorkville, Illinois taken as a whole. The accompanying schedule of revenues, expenditures, and
changes in fund balance of the Fox.Industrial Park Redevelopment Project Fund is presented for purposes
of additional analysis and is not a required part of the basic financial statements. The information in this
schedule has been subjected to the auditing procedures applied in the audit of the basic financial statements
and, in our opinion, is fairly presented in all material respects in relation to the basic financial statements
taken as a whole.
Oak Brook,Illinois
October 28,2009
2
2100 Clearwater Drive + Oak Brook, Illinois 60523-1927
630.545.4500 mart + 630.574.7818 far • www.wolfcpa.com
ATTACHMENT K
UNITED CITY OF YORKVULLE,ILLINOIS
Fox Industrial Park Redevelopment
Project Fund
Schedule of Revenues,Expenditures and Changes in Fund Balance
Year Ended April 30,2009
Revenues
Property Tax 207,398
Investment Income 1,504
Total Revenues 208,902
Expenditures
Community Development
Administration Fees 251
Debt Service
Principal 65,000
Interest 15,555
Total Expenditures 80,806
Excess of Revenue over Expenditures 128,096
Other Financing Uses
Transfers Out 25,680
Net Change in Fund Balance 102,416
Fund Balance
May 1 183,227
April 30 S 285,643
3