City Council Packet 2022 10-25-22 - Supplemental Packet #1
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Agenda Item Number
Presentation #1
Supplemental Packet Information
Tracking Number
Fiscal Year 2022 Audit Report
City Council – October 25, 2022
Rob Fredrickson Finance
Name Department
Supplemental Packet Information – distributed 10/25/22
Summary
The Audit Presentation packet material distributed on Thursday, October 20, 2022, had
the incorrect report posted accidentally within the packet. The correct Audit Report is now being
added as supplemental packet material. The correct Audit Report had previously been posted to
the website and distributed to the elected officials via hard copy and email and was only
incorrect within the packet material. The Clerk’s office apologizes for the mistake while
finalizing the packet material.
Memorandum
To: City Council
From: Jori Behland, City Clerk
CC: Bart Olson, City Administrator
Date: October 25, 2022
Subject: Audit Presentation
UNITED CITY OF YORKVILLE
800 Game Farm Road
Yorkville, IL 60560
(630)553-4350
www.yorkville.il.us
UNITED CITY OF YORKVILLE,
ILLINOIS
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED
APRIL 30, 2022
Prepared by:
Rob Fredrickson
Director of Finance
INTRODUCTORY SECTION
This section includes miscellaneous data regarding the City including: List of Principal Officials, Organization
Chart, Transmittal Letter and the Certificate of Achievement for Excellence in Financial Reporting.
UNITED CITY OF YORKVILLE, ILLINOIS
TABLE OF CONTENTS
1
2
Letter of Transmittal 3
9
INDEPENDENT AUDITORS' REPORT 11
MANAGEMENT’S DISCUSSION AND ANALYSIS 15
BASIC FINANCIAL STATEMENTS
Government-Wide Financial Statements
Statement of Net Position 30
Statement of Activities 32
Fund Financial Statements
Balance Sheet – Governmental Funds 34
Reconciliation of Total Governmental Fund Balance to the
Statement of Net Position – Governmental Activities 36
Statement of Revenues, Expenditures and Changes in
Fund Balances – Governmental Funds 38
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances to the Statement of Activities – Governmental Activities 40
Statement of Net Position – Proprietary Funds 42
Statement of Revenues, Expenses, and Changes in Net Position – Proprietary Funds 44
Statement of Cash Flows – Proprietary Funds 45
Statement of Fiduciary Net Position 46
Statement of Changes in Fiduciary Net Position 47
Notes to Financial Statements 48
FINANCIAL SECTION
PAGE
INTRODUCTORY SECTION
Principal Officials
Organizational Chart
Certificate of Achievement for Excellence in Financial Reporting
UNITED CITY OF YORKVILLE, ILLINOIS
TABLE OF CONTENTS
REQUIRED SUPPLEMENTARY INFORMATION
Schedule of Employer Contributions
Illinois Municipal Retirement Fund 98
Police Pension Fund 99
Schedule of Changes in the Employer’s Net Pension Liability/(Asset)
Illinois Municipal Retirement Fund 101
Police Pension Fund 103
Schedule of Investment Returns
Police Pension Fund 105
Schedule of Changes in the Employer's Total OPEB Liability
Retiree Benefit Plan 106
Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual
General Fund 107
Library – Special Revenue Fund 108
Parks and Recreation – Special Revenue Fund 109
OTHER SUPPLEMENTARY INFORMATION
Schedules of Revenues – Budget and Actual – General Fund 112
Schedule of Expenditures – Budget and Actual – General Fund 114
Schedule of Detailed Expenditures – Budget and Actual – General Fund 115
Schedules of Revenues – Budget and Actual – Library – Special Revenue Fund 121
Schedule of Expenditures – Budget and Actual – Library – Special Revenue Fund 122
Schedules of Revenues – Budget and Actual – Parks and Recreation – Special Revenue Fund 124
Schedules of Expenditures – Budget and Actual
Parks and Recreation – Special Revenue Fund 125
Schedules of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual
Citywide Capital – Capital Projects Fund 127
Schedule of Expenditures – Budget and Actual – Citywide Capital – Capital Projects Fund 128
Schedules of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual
Buildings and Grounds – Capital Projects Fund 129
Schedule of Expenditures – Budget and Actual – Buildings and Grounds – Capital Projects Fund 130
Combining Balance Sheet – Nonmajor Governmental 132
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances – Nonmajor Governmental 133
Combining Balance Sheet – Nonmajor Governmental – Special Revenue Funds 136
PAGE
FINANCIAL SECTION - Continued
UNITED CITY OF YORKVILLE, ILLINOIS
TABLE OF CONTENTS
OTHER SUPPLEMENTARY INFORMATION - CONTINUED
Combining Statement of Revenues, Expenditures and
Changes in Fund Balances – Nonmajor Governmental - Special Revenue Funds 138
Schedules of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual
Fox Hill Special Service Area – Special Revenue Fund 140
Sunflower Special Service Area – Special Revenue Fund 141
Motor Fuel Tax – Special Revenue Fund 142
Land Cash – Special Revenue Fund 143
Countryside TIF – Special Revenue Fund 144
Downtown TIF – Special Revenue Fund 145
Downtown TIF II – Special Revenue Fund 146
Debt Service Fund 148
Schedules of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual
Vehicle and Equipment – Capital Projects Fund 150
Schedule of Expenditures – Budget and Actual
Vehicle and Equipment – Capital Projects Fund 151
Schedule of Expenses and Changes in Net Position – Budget and Actual
Sewer – Enterprise Fund 153
Water – Enterprise Fund 154
Consolidated Year-End Financial Report 155
Report on Internal Control Over Financial Reporting and On Compliance and Other
Matters Based On an Audit of Financial Statements performed In Accordance with
Government Auditing Standards 156
SUPPLEMENTAL SCHEDULES
Long–Term Debt Requirements
Promissory Note of 2019 159
IEPA (L17-1156300) Loan Payable of 2007 160
General Obligation Library Bonds of 2006 161
General Obligation Library Refunding Bonds of 2013 162
General Obligation Refunding Alternate Revenue Source Bonds of 2014 163
General Obligation Refunding Alternate Revenue Source Bonds of 2014A 164
General Obligation Refunding Alternate Revenue Source Bonds of 2014B 165
General Obligation Refunding Alternate Revenue Source Bonds of 2014C 166
General Obligation Refunding Alternate Revenue Source Bonds of 2015A 167
General Obligation Refunding Alternate Revenue Source Bonds of 2016 168
General Obligation Alternate Revenue Source Bonds of 2021 169
General Obligation Refunding Alternate Revenue Source Bonds of 2022 170
Illinois Rural Bond Bank Debt Certificate of 2003A 171
PAGE
FINANCIAL SECTION - Continued
UNITED CITY OF YORKVILLE, ILLINOIS
TABLE OF CONTENTS
Net Position by Component – Last Ten Fiscal Years 174
Changes in Net Position – Last Ten Fiscal Years 176
Fund Balances of Governmental Funds – Last Ten Fiscal Years 178
Changes in Fund Balances of Governmental Funds – Last Ten Fiscal Years 180
Assessed Value and Actual Value of Taxable Property – Last Ten Fiscal Years 182
Principal Property Taxpayers – Current Tax Levy Year and Nine Tax Levy Years Ago 184
Direct and Overlapping Property Tax Rates – Last Ten Tax Levy Years 186
Property Tax Levies and Collections – Last Ten Fiscal Years 188
Estimate of Taxable Sales by Category – Last Ten Calendar Years 190
Direct and Overlapping Sales Tax Rates – Last Ten Fiscal Years 192
Ratios of Outstanding Debt by Type – Last Ten Fiscal Years 194
Ratios of General Bonded Debt Outstanding – Last Ten Fiscal Years 196
Schedule of Direct and Overlapping Governmental Activities Debt 197
Schedule of Legal Debt Margin – Last Ten Fiscal Years 198
Pledged-Revenue Coverage Governmental Activities– Last Ten Fiscal Years 200
Pledged-Revenue Coverage Business-Type Activities – Last Ten Fiscal Years 201
Demographic and Economic Statistics – Last Ten Calendar Years 202
Principal Employers – Current Calendar Year and Nine Calendar Years Ago 203
Full-Time and Part-Time Government Employees by Function
Last Ten Fiscal Years 204
Operating Indicators by Function/Program – Last Ten Fiscal Years 206
Capital Asset Statistics by Function/Program – Last Ten Fiscal Years 208
New Permits and Construction Values – Last Ten Fiscal Years 210
PAGE
STATISTICAL SECTION (Unaudited)
UNITED CITY OF YORKVILLE, ILLINOIS
Principal Officials
Fiscal Year Ended April 30, 2022
EXECUTIVE
Mayor: John Purcell
LEGISLATIVE
Ward 1: Dan Transier, Alderman
Ward 1: Ken Koch, Alderman
Ward 2: Craig Soling, Alderman
Ward 2: Arden Joe Plocher, Alderman
Ward 3: Matt Marek, Alderman
Ward 3: Chris Funkhouser, Alderman
Ward 4: Seaver Tarulis, Alderman
Ward 4: Jason Peterson, Alderman
ADMINISTRATION
City Administrator: Bart Olson
Director of Finance/Treasurer: Rob Fredrickson
Director of Public Works: Eric Dhuse
Chief of Police: Jim Jensen
Director of Community Development: Krysti Barksdale-Noble
Director of Parks & Recreation: Tim Evans
Library Director: Shelley Augustine
Assistant City Administrator: Erin Willrett
City Clerk: Jori Behland
1
*Fire services are provided by the Bristol
Kendall Fire Protection District and
wastewater transportation and treatment
services are provided by the Yorkville
Bristol Sanitary District. These districts
are both separate taxing bodies which the
City has no direct authority over.
United City of Yorkville
Fiscal Year 2022 Organization Structure
Citizens of
Yorkville
Mayor and
City Council
Library
Employees
Administration
Finance Public Works
Community
Development
Parks and
Recreation
Sewer
Water
Parks
Recreation
Planning
Building
Safety
Police
Chief
City
Administrator
Library
Director
City
Attorney
Boards &
Commissions
Police
Department
Streets
Buildings &
Grounds
2
United City of Yorkville
800 Game Farm Road
Yorkville, Illinois 60560
Telephone: (630) 553-4350
www.yorkville.il.us
October 20, 2022
To The Honorable John Purcell, Mayor
Members of the City Council
Citizens of Yorkville, Illinois
The Annual Comprehensive Financial Report of the United City of Yorkville, Illinois, for the Fiscal Year ended April
30, 2022, is hereby submitted. The submittal of this report complies with Illinois state law which requires that the City
issue a report on its financial position and activity presented in conformance with generally accepted accounting
principles (GAAP) and audited in accordance with generally accepted auditing standards (GAAS) by an independent
firm of licensed certified public accountants.
This report consists of management’s representations concerning the finances of the City. Consequently, responsibility
for both the accuracy of the data and the completeness and fairness of the presentation, including all disclosures, rests
with management. We believe the data, as presented, is accurate in all material respects; and is presented in a manner
designed to fairly set forth the financial position of the United City of Yorkville. The results of operations as measured
by the financial activity of its various funds; and all disclosures necessary to enable the reader to gain a reasonable
understanding of the City's financial affairs have been included.
The City’s financial statements have been audited by Lauterbach & Amen LLP, a firm of licensed certified public
accountants. The goal of the independent audit is to provide reasonable assurance that the financial statements of the
United City of Yorkville for the fiscal year ended April 30, 2022, are free of material misstatements. The independent
audit involves examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements;
assessing the accounting principles used and significant estimates made by management; and evaluation of the overall
financial statement presentation. The independent auditors concluded, based upon their audit procedures, that there was
a reasonable basis for rendering an unmodified (“clean”) opinion that the City’s financial statements for the fiscal year
ended April 30, 2022, are fairly presented in conformity with GAAP. The independent auditor’s report is presented as
the first component of the financial section of this report.
This report includes all funds of the City (primary government), including the Yorkville Public Library and Parks and
Recreation Department, and its pension trust fund, the Yorkville Police Pension Fund. The Police Pension was
determined to be a pension trust fund due to its fiduciary and fiscal relationship with the City, as its singular purpose
is to provide retirement benefits to the City’s sworn police officers. The City does not have any other reporting
units that would qualify as a discretely presented component unit in the separate column of the government-wide
financial statements.
Generally accepted accounting principles require that management provide a narrative introduction, overview and
analysis to accompany the basic financial statements in the form of Management’s Discussion and Analysis (MD&A).
This transmittal letter is designed to complement the MD&A and should be read in conjunction with it. The City’s
MD&A can be found immediately following the report of the independent auditors.
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Profile of the United City of Yorkville
Yorkville was first settled in 1833 and has been the county seat of Kendall County since 1859. The Village of Yorkville
was incorporated in 1874, with a population of approximately 500 people. At that time, the Village of Yorkville only
encompassed land on the south side of the Fox River; another village, called Bristol, was located directly across from
Yorkville on the north side of the river. In 1957 the two villages merged, via referendum, to form the United City of
Yorkville. The City, a non-home rule community as defined by the Illinois Constitution, covers approximately 22
square miles with a 2020 census population of 21,533 residents. The City is located in central Kendall County, about
45 miles southwest of Chicago, Illinois. The Cit y is primarily agricultural and residential in nature, with housing stock
consisting of approximately 7,850 single family (includes townhomes, condominiums and duplexes) dwelling units.
The City operates under a Mayor/Council form of government, as defined in Illinois State Statutes. The legislative
authority of the City is vested in an eight-member council, each elected from their respective wards to overlapping four-
year terms. The Mayor is elected at large to a four-year term. The Mayor appoints, with Council consent, a City
Administrator to manage the day-to-day operations of the City.
The City provides a full range of municipal services with 87 full-time, and 91 part-time employees working in
public safety, public works (including water distribution and sewer services), community development, building
and zoning, parks and recreation, library services and general administration. The City maintains approximately
140 lane miles of streets and 240 acres of green space at 32 locations. Solid waste collection and recycling services
are administered by the City through a contract with a private firm. Sewage treatment and fire protection services
are provided by the Yorkville Bristol Sanitary District and the Bristol Kendall Fire Protection District; both of which
are independent units of government.
The Yorkville Public Library is operated under an appointed board, which is separate from the City Council. Library
Board positions are appointed by the Mayor and expire on a rotating basis. Library operations are administered by
the Library Board; however, the City is required by state statute to include within its property tax levy and budget,
the Library’s requests. The Library does not have authority to issue debt and must do so through the City.
Accounting System and Budgetary Control
Management of the United City of Yorkville is responsible for establishing and maintaining an internal control structure.
The internal control structure is designed to ensure that the assets of the City are protected from loss, theft or misuse
and to ensure that adequate accounting data is compiled to allow for the preparation of financial statements in conformity
with generally accepted accounting principles. This structure is designed to provide reasonable, but not absolute,
assurance that these objectives are met. The concept of reasonable assurance recognizes that: (1) the cost of a control
should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and
judgments by management.
In addition, the United City of Yorkville maintains budgetary controls. The objective of these budgetary controls is to
ensure compliance with legal provisions embodied in the annual appropriated budget approved by the City's governing
body. Activities of the general fund, special revenue funds, capital project funds, debt service funds and enterprise
funds are included in the annual appropriated budget. The level of budgetary control (that is, the level at which
expenditures cannot legally exceed the appropriated amount) is established at the fund level for all budgeted funds. The
budget process begins in the fall when department heads begin to prepare line-item budgets for their respective
departments for the upcoming fiscal year, before submitting them to the City Administrator and Finance Director.
Throughout the fall and winter, the proposed budgets from each department are discussed and revisions are made based
on the projected financial outlook and priorities of the City. A draft budget is then prepared and presented to City
Council in February or March. A public hearing is required to be held on the budget prior to formal adoption by City
Council. The annual budget must be adopted before May 1st, which is the beginning of the City’s fiscal year.
4
Local Economy
Yorkville is home to several large and midsized manufacturers and retailers including the Wm. Wrigley Jr. Company,
Boombah, Inc., Newlywed Foods, Jewel/Osco, Target, Kohl’s, Home Depot and Menards. It is also home to Raging
Waves, Illinois largest water park. The City’s administrative staff, in conjunction with its economic development
consultant, continues to work on attracting and retaining commercial and industrial business to the City.
Over the course of the current fiscal year, a total of 1,518 building permits were issued by the United City of Yorkville.
This includes 32 new commercial buildout/construction/remodeling permits including such new businesses as the
Kendall Meat Company, a fresh meat and seafood market located in the Kendall Marketplace business district; Sephora,
a cosmetic and beauty retailer located within the Kohl’s department store; and Belle Tire, a wheel and automotive
service retailer located in the Menards development area. In addition, two national quick-service food retailers, Noodles
& Company and Chipotle, are currently under construction and slated for late Fall/Winter 2022 openings. Within the
downtown, a new local coffee shop, Iconic Coffee, recently opened offering pastries and beverages at site along the
Fox River. On the residential side, the City issued a total of 358 new construction permits, which included 210 single-
family and 148 townhomes, primarily located within the Grande Reserve and Raintree Village subdivisions.
The City’s three tax increment financing (TIF) districts also saw a fair amount of activity in the current fiscal year.
The Burnt Barrel Social, a one-of-a-kind family friendly lounge offering local fare and crafted spirits (located in
the Countryside TIF district on the corner of US Route 34 and Illinois Route 47), applied for a building permit to
construct a 605 square foot addition to their existing commercial space. Additionally, the final vacant lot within
the TIF district was purchased and a proposed new business, Station One Smokehouse – a Texas styled BBQ
restaurant, is planned to open in early 2023. In the City’s two Downtown TIF districts, the former Kendallwood
Estates residential development, consisting of 83 single-family lots on 50-acres of land just south of Van Emmon
Road and east of Illinois Route 47, was purchased by Rally Homes in the winter of 2021 and renamed Timber Ridge
Estates. This development will offer seven different semi-custom home plans and three distinct elevations per plan.
The homes will range in size from 2,000 square foot ranches to nearly 4,000 square foot two-story homes.
Furthermore, in December of 2021 the City approved a TIF inducement resolution with the Williams Group, LLC
for eight parcels located at the northwest corner of Illinois Route 47 (Bridge Street) and Hydraulic Avenue. The
redevelopment plans included remodeling the interior spaces for two residential apartments on the second floor and
commercial space on the ground floor.
Despite the many budgetary challenges facing the State of Illinois, including looming debt and pension obligations, the
City has seen multiple signs that the local economy is continuing to remain resilient. The U.S. Census Bureau 5-year
Community Survey estimates report that the City has a median household income of $101,245. This compares to
$96,854 for Kendall County and $68,428 for the State of Illinois. Yorkville’s average unemployment rate was 5.3% at
the end of calendar year 2021, which was lower that both the State and the Chicago-Naperville-Arlington Heights
Metropolitain Area (which includes Cook, DuPage, Grundy, Kendall, McHenry and Will Counties) rates of 6.1% and
6.4%, respectively. The equalized assessed valuation (EAV) of taxable property within the City continues to steadily
rise, increasing by an average of approximately 7% from 2016 through 2021. In addition, the City’s sales tax base
continues to expand, as municipal sales tax proceeds have continued to exceed prior year amounts by an average
annualized growth rate of over 6% since fiscal year 2014.
As Yorkville emerges from the COVID-19 pandemic, the City’s financial position remains strong with sufficient
reserve levels. Management is pleased to report that initial estimated revenue losses did not come to fruition as the City
weathered the pandemic over the last two fiscal cycles, as several material revenue streams have reached record heights,
appreciably exceeding pre-pandemic actuals. Moreover, for those few operational revenue sources that were impacted
by COVID, (particularly hotel, amusement and video game taxes) have either returned to or exceeded pre-pandemic
figures.
5
Major Initiatives
In fiscal year 2022 the City continued to pursue several major initiatives, including:
• Bond Issuance and Refundings - In May of 2021, the City issued $8.25 million in bonds to finance the
renovation of a three-story building located at 651 Prairie Point Drive on the City’s northeast side. This 43,000
square foot facility, which was purchased in the prior fiscal year for $1.9 million, will serve as Yorkville’s new
City Hall / Police Station, and is currently slated for completion by the of calendar year 2022. Furthermore, in
January of 2022 the City issued a second bond for $5.17 million, with $4.16 million of the proceeds used to
refinance the 2011 bonds, and the remaining proceeds ($1.10 million) to be used to finance renovations to the
new City Hall / Police Station facility. The refunding of the 2011 bonds reduced overall debt service by
$275,353 and yielded an economic gain of $266,090.
• Road to Better Roads (RTBR) Program and Other Capital Projects – Based on the findings of an updated
road study conducted in 2018 and in an effort to address ongoing infrastructure needs, the City continued its
annual capital improvement program in the current fiscal year, commonly referred to as the “Road to Better
Roads” program. Construction costs in fiscal year 2022 totaled approximately $1.6 million for roadway
improvements, consisting of pavement milling and overlays on several local streets. In addition, the City
neared completion on watermain improvements at Appletree Court and Elizabeth Street and roadway
improvements within the Fox Hill subdivision; finalized preliminary engineering for the East Main Street
water main replacement; and continued to progress with the reconstruction of Mill Road. Moreover,
preliminary engineering activities commenced on several roadway, sewer and water related projects
including: the intersection at Mill and Kennedy Roads; construction of a new sewer interceptor on Corneils
Road; and the rehabilitations of the City’s north central water tower and water well #4. Notable non-
infrastructure improvements comprised of two playground installations at Price and Fox Hill Parks; and the
purchase several new vehicles, including two SUV police squads, the refurbishment of two Street
Department dump trucks and the acquisition of three full-size pick-ups by the Community Development
Department.
• City Water Source Transition – After reviewing several options throughout the first half of fiscal year 2022,
in December the City Council identified Lake Michigan (via the DuPage Water Commission) as the preferred
choice, as the City begins its transition to a more sustainable long-term water source. This multi-year project,
which is projected to cost $230 million, will be done in conjunction with the Village of Oswego and the Village
of Montgomery, with Yorkville’s portion currently estimated at $90 million. The project is anticipated to be
funded by a mix of debt financing, rate increases, and other City revenue streams, along with the potential for
Federal and State assistance as well. In the current fiscal year, City Staff initiated the supply transition by
beginning the permitting process with the Illinois Department of Natural Resources, in order to receive the
State’s consent to utilize water from Lake Michigan. Preliminary engineering was also commenced, for the
purposes of addressing various considerations regarding the transition, including water loss, meter replacement
and long-term water rate planning.
• New Public Works Facility – The City commenced planning for a new public works facility in June of 2021,
as the City Council engaged a consultant to conduct a space needs and development analysis. This analysis,
which is expected to be completed in the subsequent fiscal year, will identify potential sites for the new facility,
ascertain space needs for current and future operational considerations and develop various cost scenarios. At
present, the new facility is expected to encompass an area of 10 to 15 acres, at an estimated cost between $22
and $36 million and will likely be financed by a future bond issuance.
6
Long-Term Financial Planning
Management annually develops five-year financial forecasts for all budgeted funds. These forecasts serve as the basis
for identifying not only future capital needs, but future operational and personnel requirements as well. Revenue and
expenditure trends will be evaluated and prioritized based on the goals set forth by the City Council. It is the intent of
management that this five-year financial forecast will serve as the foundation for each year’s corresponding budget
document.
Relevant Financial Policies
In order to ensure that the City continues to meet its immediate and long-term service goals, several financial policies
and procedures have been implemented by management. Some of the more prescient policies include the following:
• Issue an Annual Comprehensive Financial Report within 180 days of the end of each fiscal year that complies
with generally accepted accounting principles.
• Monthly revenue, expenditure and cash balance reporting for all funds. These financial reports ensure that the
City Council is made aware of any variances from the appropriated budget. In addition, the City’s budget
document continues to be revised in order to enhance transparency.
• Maintain the “Information for Citizens” webpage on the City’s website, which contains a wide array of
financial information including budget and audit information; annual treasurer’s reports; bill lists; employee
salary and benefit information; tax rates and fees; and other nonfinancial information.
• A fund balance policy establishing benchmark reserve levels to be maintained in the City’s various funds, in
order to promote financial stability and provide adequate cash flow for operations.
• A pension funding policy which defines the manner in which the City funds the long-term cost of benefits
promised to plan participants and defines the calculation of the actuarial determined contribution (ADC) to the
Yorkville Police Pension and Illinois Municipal Retirement Funds.
• An investment policy which invests public funds in a manner which protects principal, maximizes return for a
given level of risk and meets the daily cash flow needs of the City.
• A capital asset policy which establishes the capitalization thresholds and estimated useful lives of capital assets.
• A purchasing policy to ensure that goods and services are obtained in a timely manner at the lowest possible
cost.
• A post issuance compliance policy to ensure that City remains in compliance with federal tax laws after the
issuance of tax-exempt debt.
• A credit card policy for all City related credit card purchases. All City employees are required to sign a credit
card policy acknowledgement form prior to receiving a City issued credit card.
7
8
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
United City of Yorkville
Illinois
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
April 30, 2021
Executive Director/CEO
9
INDEPENDENT AUDITORS’ REPORT
This section includes the opinion of the City’s independent auditing firm.
10
INDEPENDENT AUDITOR'S REPORT
October 20, 2022
The Honorable City Mayor
Members of the City Council
United City of Yorkville, Illinois
Opinions
We have audited the accompanying financial statements of the governmental activities, the business-type
activities, each major fund, and the aggregate remaining fund information of the United City of Yorkville,
Illinois, as of and for the year ended April 30, 2022, and the related notes to the financial statements,
which collectively comprise the City’s basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respective financial position of the governmental activities, the business-type activities, each major fund,
and the aggregate remaining fund information of the United City of Yorkville, Illinois, as of April 30,
2022, and the respective changes in financial position and, where applicable, cash flows thereof for the
year then ended in accordance with accounting principles generally accepted in the United States of
America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America. Our responsibilities under those standards are further described in the Auditor’s Responsibilities
for the Audit of the Financial Statements section of our report. We are required to be independent of the
City, and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements
relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in
accordance with accounting principles generally accepted in the United States of America, and for the
design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or
events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a
going concern for twelve months beyond the financial statement date, including any currently known
information that may raise substantial doubt shortly thereafter.
11
United City of Yorkville, Illinois October 20, 2022 Page 2 Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes
our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore
is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will
always detect a material misstatement when it exists. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered
material if there is a substantial likelihood that, individually or in the aggregate, they would influence the
judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with generally accepted auditing standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud
or error, and design and perform audit procedures responsive to those risks. Such procedures include
examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the City’s internal control. Accordingly, no such opinion is expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that
raise substantial doubt about the City’s ability to continue as a going concern for a reasonable period
of time.
We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit, significant audit findings, and certain internal control-related matters
that we identified during the audit. Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s
discussion and analysis, the budgetary comparison schedules, and GASB-required pension and other post-
employment benefit (OPEB) reporting, as listed in the table of contents, be presented to supplement the
basic financial statements. Such information is the responsibility of management and, although not a part
of the basic financial statements, is required by the Governmental Accounting Standards Board, who
considers it to be an essential part of financial reporting for placing the basic financial statements in an
appropriate operational, economic, or historical context. We have applied certain limited procedures to the
required supplementary information in accordance with auditing standards generally accepted in the United
States of America, which consisted of inquiries of management about the methods of preparing the
information and comparing the information for consistency with management’s responses to our inquiries,
the basic financial statements, and other knowledge we obtained during our audit of the basic financial
statements. We do not express an opinion or provide any assurance on the information because the limited
procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
12
United City of Yorkville, Illinois October 20, 2022 Page 3 Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the United City of Yorkville, Illinois’ basic financial statements. The other supplementary
information and supplemental schedules are presented for purposes of additional analysis and are not a
required part of the basic financial statements. Such information is the responsibility of management and
was derived from and relates directly to the underlying accounting and other records used to prepare the
basic financial statements. The information has been subjected to the auditing procedures applied in the
audit of the basic financial statements and certain additional procedures, including comparing and
reconciling such information directly to the underlying accounting and other records used to prepare the
basic financial statements or to the basic financial statements themselves, and other additional procedures
in accordance with auditing standards generally accepted in the United States of America. In our opinion,
other supplementary information and supplemental schedules are fairly stated, in all material respects, in
relation to the basic financial statements as a whole.
Other Information
Management is responsible for the other information included in the annual report. The other information
comprises the introductory and statistical sections but does not include the basic financial statements and
our auditor’s report thereon. Our opinions on the basic financial statements do not cover the other
information, and we do not express an opinion or any form of assurance thereon.
In connection with our audit of the basic financial statements, our responsibility is to read the other
information and consider whether a material inconsistency exists between the other information and the
basic financial statements, or the other information otherwise appears to be materially misstated. If, based
on the work performed, we conclude that an uncorrected material misstatement of the other information
exists, we are required to describe it in our report.
Lauterbach & Amen, LLP
LAUTERBACH & AMEN, LLP
13
MANAGEMENT’S DISCUSSION AND ANALYSIS
14
As management of the United City of Yorkville (“City”), we offer readers of the City’s financial statements
this narrative overview and analysis of the financial activities of the City for the fiscal year ended April 30,
2022. Since the Management’s Discussion and Analysis (“MD&A”) is designed to focus on the current
year’s activities, resulting changes and currently known facts, it should be read in conjunction with the
Letter of Transmittal, which can be found in the introductory section of this report, and the City’s financial
statements, which can be found in the basic financial statements section of this report.
Financial Highlights
• The assets/deferred outflows of the United City of Yorkville exceeded its liabilities/deferred
inflows at the close of the fiscal year by $170,140,087 (net position). Of this amount, $154,779,593
was invested in capital assets, net of related debt; $7,859,306 was restricted for specific activities
such as highways and streets, special service areas, bond proceeds, land cash and library operations.
Remaining net position, totaling $7,501,188, was unrestricted.
• The City’s aggregate net position increased by $12,390,940 or 7.9% during the fiscal year ended
April 30, 2022. Of this increase, $9,888,719 is attributable to governmental activities and
$2,502,221 is attributable to business-type activities.
• Total revenues increased by 7.9% from $36,223,366 to $39,077,288. Overall expenses totaled
$26,686,348, which is an increase of 0.1% over the preceding fiscal year.
• At the culmination of the current fiscal year, the City’s governmental funds reported combined
fund balances of $22,607,988, compared to $10,226,689 as reported on April 30, 2021.
• For the fiscal year ended April 30, 2022, the City’s General Fund reported an increase in fund
balance of $1,454,746. Total ending fund balance in the General Fund was a positive $10,627,100.
• Both the City’s Water and Sewer Funds reported positive changes in net position during the current
fiscal year, reporting ending balances of $38,116,454 and $35,715,557, respectively.
Overview of the Financial Statements
This discussion and analysis is intended to serve as an introduction to the City’s basic financial statements.
The City’s basic financial statements are comprised of three components: (1) government-wide financial
statements, (2) fund financial statements, and (3) notes to the financial statements. The governmental-wide
statements are divided between governmental activities and business-type activities. The perspective of the
fund financial statements presents financial information for individual funds established by the City for
specific purposes. They are categorized into three distinct groups: governmental, proprietary and fiduciary.
This report also contains other supplementary information in addition to the basic financial statements.
Government-Wide Financial Statements
The government-wide financial statements are designed to provide readers with a broad overview of the
City’s finances, in a manner similar to a private-sector business. The Statement of Net Position presents
information on all of the City’s assets/deferred outflows and liabilities/deferred inflows, with the difference
between the two reported as net position. Over time increases or decreases in net position may serve as a
useful indicator of whether the financial position of the City is improving or deteriorating.
The Statement of Activities presents information showing how the City’s net position changed during the
most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise
to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are
reported in this statement for some items that will only result in cash flows in future fiscal periods.
15
Both of the government-wide financial statements distinguish functions of the City that are principally
supported by taxes and intergovernmental revenues (governmental activities) from other functions that are
intended to recover all or a significant portion of their costs through user fees and charges (business-type
activities). The governmental activities of the City include general government (legislative, administration
and finance), public safety (police), community development, public works (street operations, health and
sanitation) and parks and recreation. Property taxes, shared state taxes and local utility taxes finance the
majority of these services. Business-type activities reflect private sector type operations, where the fee for
service typically covers all or most of the cost of operations, including depreciation. The business-type
activities of the City include water and sewer operations.
Fund Financial Statements
A fund is a grouping of related accounts that is used to maintain control over resources that have been
segregated for specific activities or objectives. The City uses fund accounting to ensure and demonstrate
compliance with finance-related legal requirements. All of the funds of the United City of Yorkville can
be divided into three categories: governmental funds, proprietary funds and fiduciary funds.
Governmental Funds
Governmental funds are used to account for essentially the same functions reported as governmental
activities in the government-wide financial statements. However, unlike the 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 resources available at the end of the fiscal year. Such
information may be useful in evaluating a government’s near-term financing requirements.
Because the focus of governmental funds is narrower than that of the government-wide financial statements,
it is useful to compare the information presented for governmental funds with similar information presented
for governmental activities in the government-wide financial statements. By doing so, readers may better
understand the long-term impact of the City’s near-term financing decisions. Both the Governmental Fund
Balance Sheet and the Governmental Fund Statement of Revenues, Expenditures and Changes in Fund
Balances provide a reconciliation to facilitate this comparison between governmental funds and
governmental activities.
The City maintains fourteen individual governmental funds. Information is presented separately in the
Governmental Fund Balance Sheet and in the Governmental Fund Statement of Revenues, Expenditures
and Changes in Fund Balances for the General Fund, Library Fund, Parks and Recreation Fund, Citywide
Capital Fund and Buildings and Grounds Fund, all of which are considered to be major funds. Information
from the City’s other nine governmental funds are combined into a single column presentation. Individual
fund information for these non-major governmental funds is provided elsewhere in the report.
The United City of Yorkville adopts annual budgets for its General Fund, Library Fund, Parks and
Recreation Fund, Citywide Capital Fund and Buildings and Grounds Fund. A budgetary comparison
schedule has been provided for all four funds to demonstrate compliance with this budget.
Proprietary Funds
The City maintains one type of proprietary fund (enterprise funds). Enterprise funds are used to report the
same functions presented as business-type activities in the government-wide financial statements. The City
uses enterprise funds to account for its water and sewer operations.
Proprietary funds provide the same type of information as the government-wide financial statements, only
in more detail. The proprietary fund financial statements provide separate information for the Water Fund
(major fund) and the Sewer Fund (major fund).
16
Fiduciary Funds
Fiduciary funds are used to account for resources held for the benefit of parties outside the City. Fiduciary
funds are not reflected in the government-wide financial statements because the resources of those funds
are not available to support the City’s operations. The City maintains one fiduciary trust fund, the Police
Pension Fund. The accounting used for fiduciary funds is similar to that used by proprietary funds.
Notes to the Financial Statements
The notes provide additional information that is essential to a full understanding of the information provided
in the government-wide and fund financial statements.
Other Information
In addition to the basic financial statements, this report also includes certain required supplementary
information related to budgetary information and the City’s progress in funding its obligation to provide
pension and other post-employment benefits to its employees. Required non-major fund information can
be found following the required supplementary information.
The combing statements referred to earlier in connection with non-major governmental funds are presented
immediately following the required supplementary information on pensions.
GOVERNMENT-WIDE FINANCIAL ANALYSIS
Statement of Net Position
The following chart reflects the condensed Statement of Net Position (in millions):
2022 2021 2022 2021 2022 2021
Assets:
Current Assets 36.8$ 20.9$ 5.2$ 5.0$ 42.0$ 25.9$
Capital Assets 105.5 100.5 70.0 70.2 175.5 170.7
Other Assets 1.5 0.3 11.4 11.1 12.9 11.4
Total Assets 143.8 121.6 86.6 86.4 230.4 207.9
Deferred Outflows 2.3 1.8 2.8 2.9 5.1 4.7
Total Assets/Deferred Outflows 146.1 123.4 89.4 89.3 235.5 212.7
Liabilities:
Current Liabilities 10.2 6.5 3.2 3.1 13.4 9.6
Long-term Liabilities 30.2 20.6 12.0 14.5 42.2 35.1
Total Liabilities 40.4 27.0 15.2 17.6 55.6 44.7
Deferred Inflows 9.4 10.0 0.4 0.3 9.8 10.2
Total Liabilities/Deferred Inflows 49.8 37.0 15.6 17.9 65.4 54.9
Net Position:
Net Investment in Capital Assets 93.9 90.5 60.8 58.4 154.8 148.9
Restricted 7.9 2.1 - - 7.9 2.1
Unrestricted (Deficit)(5.5) (6.1) 13.0 12.9 7.5 6.8
Total Net Position 96.3$ 86.4$ 73.8$ 71.3$ 170.1$ 157.7$
Primary
Government
Total
Governmental
Activities
Business-Type
Activities
17
The City’s combined net position increased by $12.4 million, from $157.7 million to $170.1 million, during
the current fiscal year. This change is the result of $9.9 million and $2.5 million increases in the net position
of governmental activities and business-type activities, respectively. The increase in the net position of
governmental activities was due primarily to an increase in current assets, as cash flows in the current fiscal
year significantly increased as the result of better-than-expected operating outcomes. Moreover, capital
assets grew by $5 million, consisting of developer donations, City constructed roadway improvements and
unfinished infrastructure/building projects that were still being constructed at fiscal year-end. Long-term
liabilities for governmental activities increased by approximately $9.6 million as the direct result of debt
being issued over the course of fiscal year 2022. Restricted net position for governmental activities rose by
$5.8 million, predominantly comprised of unspent bond proceeds. The enhanced net position of business-
type activities was chiefly due to the continued amortization of long-term debt applicable to the Water and
Sewer Funds. Net position of business-type activities was further impacted in positive manner by current
year gains to the IMRF net pension asset and improved operating results.
The largest portion of the United City of Yorkville’s net position, totaling $154,779,593, reflects its
investment in capital assets (e.g., land, infrastructure, buildings, vehicles and equipment), less any related
debt used to acquire or construct those assets that are still outstanding. The City uses its capital assets to
provide services to citizens; consequently, these assets are not available for future spending. Although
Yorkville’s investment in capital assets is reported net of related debt, it should be noted that the resources
needed to repay this debt must be provided from other sources, since the capital assets themselves cannot
be used to liquidate these liabilities. The final component of the City’s net position (4.6%) represents
resources that are subject to external restrictions on how they may be used. At fiscal year-end, total
restricted net position was comprised as follows: 11.6% was for prospective library operations; 84.2% was
comprised of remaining bond proceeds pertaining to the new City Hall and Police Station project; 3.4%
was for upcoming road maintenance and improvement projects relating to the City’s motor fuel tax (MFT)
program; 0.4% was for future land cash related park projects; and 0.3% was restricted for special service
area use.
As of April 30, 2022, the City was able to report positive balances in all three categories of net position,
both for the government as a whole, and for its business-type activities. Unrestricted net position for
governmental activities finished fiscal year 2022 at negative $5,482,448. This was an increase of
approximately $0.64 million in comparison to the prior fiscal year, as a consequence of better-than-expected
operating results. Unrestricted net position for business-type activities ended the current fiscal year at
$12,983,636, a nominal increase of $0.06 million, as the result of enhanced water sales and infrastructure
fees directly related to the steady flow of new housing starts.
18
Activities
The following table reflects the revenue and expenses of the City’s governmental and business-type
activities (in millions).
2022 2021 2022 2021 2022 2021
Revenues
Program Revenues:
Charges for Services 5.4$ 5.7$ 6.7$ 6.8$ 12.0$ 12.5$
Operating Grants & Contributions 2.8 3.0 - - 2.8 3.0
Capital Grants & Contributions 1.1 1.8 0.3 1.1 1.5 2.9
General Revenues:
Property Taxes 5.5 5.2 - - 5.5 5.2
Other Taxes 15.0 12.0 - - 15.0 12.0
Other Revenue 2.1 0.4 0.1 0.1 2.2 0.5
Total Revenues 31.9$ 28.2$ 7.1$ 8.0$ 39.1$ 36.2$
Expenses
General Government 4.8 6.0 - - 4.8 6.0
Library 1.0 1.0 - - 1.0 1.0
Parks & Recreation 2.5 2.5 - - 2.5 2.5
Public Safety 5.9 5.7 - - 5.9 5.7
Community Development 1.0 0.8 - - 1.0 0.8
Public Works 5.5 5.1 - - 5.5 5.1
Interest Long-Term Debt 0.6 0.4 - - 0.6 0.4
Water - - 3.6 3.4 3.6 3.4
Sewer - - 1.6 1.7 1.6 1.7
Total Expenses 21.4$ 21.5$ 5.3$ 5.1$ 26.7$ 26.7$
Excess(Deficiency) before Transfers 10.5$ 6.7$ 1.9$ 2.9$ 12.4$ 9.6$
Transfers (0.6) (0.3) 0.6 0.3 - -
Change in Net Position 9.9$ 6.4$ 2.5$ 3.1$ 12.4$ 9.6$
Net Position, Beginning 86.4$ 80.0$ 71.3$ 68.2$ 157.7$ 148.2$
Net Position, Ending 96.3$ 86.4$ 73.8$ 71.3$ 170.1$ 157.7$
Primary
Government
Total
Governmental
Activities
Business-Type
Activities
19
Governmental Activities
Revenues
Total governmental activities revenue for the current fiscal year was $31,935,911, compared to $28,219,399
in the previous fiscal year, which is an increase of 13.2%. Property taxes, one of the City’s principal
revenue sources (17.4% of aggregate revenues), totaled over $5.5 million in fiscal year 2022. Property
taxes support various governmental activities, including the City’s annual contribution to the Yorkville
Police Pension Fund. The City contributed $1,334,771 to the Police Pension Fund in the current fiscal year,
fully funding its actuarially determined contribution amount, as pursuant to its pension funding policy.
Total property tax revenues increased by 5.6%, as the Library increased its levy for operations, and all three
of the City’s TIF districts generated additional incremental property tax revenues totaling $156,484. The
City increased its requested levy as well, but only by the increment generated solely from new construction.
This resulted in additional proceeds of approximately $90,000, which were used to offset the increased
employer contribution of $104,176 (8.5%) to the Pension Fund.
After last year’s dynamic growth of 12.5%, sales taxes continued to reach unprecedented heights over the
course of the current fiscal year due to the confluence of several factors consisting of: aggressive fiscal and
monetary policies in response to the pandemic, which have spurred consumer demand; ongoing supply
chain issues, which further drove up demand; statutory changes regarding how these proceeds are sourced;
and the resiliency of the local economy. In the past, tax revenues from products purchased on the internet
that were used or consumed in Illinois, were distributed to municipalities on a per-capita basis. With the
new sourcing laws that went into effect last fiscal year, most on-line retailers are now required to collect
both State and locally imposed (including non-home rule) sales taxes on products being used or consumed
within Yorkville. The effect of these on-line sourcing rule changes, in combination with the other
economic factors mentioned above, was that the City received $7.9 million in sales taxes in fiscal year
2022, which resulted in an extraordinary year-over-year gain of 25.1%. The “other taxes” classification
includes several revenue sources, including income, excise, utility, business district, video gaming and state
use taxes. The other taxes classification increased by 24.5% in the current fiscal year, as many of these
revenue streams benefited from the same pandemic related demand issues that positively impacted sales
taxes; in addition to the periodic easing of COVID restrictions and revised per capita figures from the 2020
decennial census. Most notably income and utility taxes increased precipitously, posting year-over-year
gains of $704,570 and $179,970, respectively.
Aggregate charges for service revenues decreased by 6.2% in the current fiscal year, due to a reduction in
overall vehicle and equipment chargebacks in comparison to the year prior. The “other revenues”
classification, which is primarily made up of interest income and various reimbursements related to capital
projects, increased significantly in fiscal year 2022, due to various developer funded road infrastructure
improvements within the Grande Reserve subdivision. Operating grant and contribution revenues declined
by $202,376 (6.7%) in comparison to fiscal year 2021 amounts, due to the timing of grant proceeds from
the State’s Rebuild Illinois program. Capital grants and contributions decreased by approximately
$700,000, as the City accepted fewer capital contributions from developers.
- 2,000 4,000 6,000 8,000 10,000
Charges for Service
Operating Grants & Contributions
Capital Grants & Contributions
Property Taxes
Sales Tax
Other Taxes
Other Revenues
Governmental Activities -Revenues by Function (in thousands)
FY 2022 FY 2021
20
Expenses
Total expenses amounted to $21,422,885 for governmental activities at the end of fiscal year 2022. This
reflected a nominal decrease of 0.5% from the prior year. The public safety and general government
functions comprised the greatest proportion of governmental activities expenses, accounting for a combined
50.0% of the total. Other primary functional areas include public works and parks and recreation, which
accounted for 25.9% and 11.5%, respectively, of total governmental activities expense.
Public works expenses totaled just over $5.5 million for the fiscal year ended April 30, 2022, which is an
8.8% increase over the preceding year. This increase is primarily attributable to additional expenses related
to building and ground operations and fewer vehicle and equipment acquisitions, in comparison to the
previous fiscal year. Public safety expenses modestly increased by 2.8%, stemming from inflationary wage
augmentations and an increase in the current year’s employer pension contribution. General government
expenses decreased by 19.1%, as last year’s amount was skewed due to one-time Federally funded payouts
of almost $750,000 to local businesses, pursuant to the Downstate Small Business Stabilization and
Business Interruption grant programs, in an effort to mitigate the impact of COVID-19 on the Yorkville
business community. Community development expenses increased by 26.1%, due to the addition of one
new employee, enhanced vehicle funding and increased inspection costs, which were directly correlated
with the rapidity of the local housing environment. Parks and Recreation expenses were slightly down by
1.7%, as fewer capitalizable assets related to playground improvements were completed in the current fiscal
year. Interest on long-term debt rose by 53.3%, due to interest being paid on the new 2021 bond and the
associated costs of issuance. The following pie chart shows the breakdown of governmental activities
expenses by function.
- 1,000 2,000 3,000 4,000 5,000 6,000 7,000
General Government
Public Safety
Community Development
Public Works
Library
Parks & Recreation
Interest on Long-Term Debt
Governmental Activities -Expenses by Function (in thousands)
FY 2022
FY 2021
22%
27%
5%
26%
5%
12%
3%
General Government
Public Safety
Community Development
Public Works
Library
Parks & Recreation
Interest on Long-Term Debt
21
Business-Type Activities
Business-type activities increased the City’s net position by $2,502,221. For the current fiscal year, 93.2%
of all business-type activity revenue was generated from fees for services relating to the City’s water and
sewer utilities. Charges for services totaled $6.7 million in fiscal year 2022, which represents a slight
reduction of approximately $140,000 (2.0%) in comparison to the year prior. This nominal decrease in
charge for service revenue was the result of fewer new housing starts, which lead to reduced connection fee
revenue in comparison to fiscal year 2021. Nonetheless, water sales revenue increased by 4.4%, resulting
from expanded consumption and an uptick in new utility billing accounts, which expanded by 4.8% in the
current fiscal year. Other water and sewer related utility fees increased in a similar manner, posting
combined year-over-year gains of $107,196.
Capital grant and contribution revenues for business-type activities in fiscal year 2022 decreased by more
than two thirds, as fewer water and sewer related infrastructure assets were accepted from developers
relative to the prior year. “Other revenues”, which are comprised of rental income, reimbursements,
proceeds from capital asset sales, interest income and miscellaneous items; increased by $57,030, due to
developer reimbursements related to the construction of a new sanitary sewer interceptor on Corneils Road.
Net transfers totaled a positive $624,307, which were used to fund debt service payments.
FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS
Governmental Funds - The focus of the United City of Yorkville’s governmental funds is to provide
information on near-term inflows, outflows, and balances of spendable resources. Such information is
useful in assessing the United City of Yorkville’s financing requirements. In particular, unassigned fund
balance may serve as a useful measure of a government’s net resources available for spending at the end of
the fiscal year. At the end of the current fiscal year, the United City of Yorkville’s governmental funds
reported combined ending fund balances of $22,607,988, an increase of $12,381,299 over last year’s totals.
Approximately 99% of fund balance for the governmental funds is identified between the restricted,
assigned and unassigned categories. Restricted fund balance, which accounts for 34.8% of total fund
balance, includes amounts restricted for library operations, bond proceeds, special service areas, land cash
and the City’s motor fuel tax program. The bulk of unassigned fund balance, which accounts for 46.3% of
total governmental fund balance, is in the General Fund ($10.5 million); with the majority of the negative
equity portion of $2.8 million residing in the City’s three TIF Funds. Remaining fund balance for the
governmental funds are allocated as follows: $214,345 (1.0%) is nonspendable (i.e., prepaids); $7,859,306
(34.8%) is restricted in the form of unspent bond proceeds, funds reserved for special service areas and the
State’s Motor Fuel program; $6,941,081 is assigned to various road related capital projects, building
improvements, vehicles and equipment. Overall General Fund revenues increased by $3.6 million (18.2%),
to finish at $23.1 million for the fiscal year, led by dramatic year-over-year gains in sales taxes (+$1.6
million), income tax (+$0.7 million) and Federal grant (+1.5 million) proceeds. When coupled with lower-
than- expected salary and benefit expenditures, this resulted in a revenue over expenditure excess of $8.2
million. Approximately half of this excess was earmarked by City Council for capital purposes, as an
additional $3.8 million was transferred out in addition the original budgeted amounts of $3 million; thus,
resulting in a positive General Fund surplus of $1.5 million. It should also be noted that the tax revenues
that were most impacted by the pandemic (namely hotel, video gaming and amusement taxes) either
returned to, or exceeded, pre-pandemic levels, resulting in an aggregate gain of $318,144.
The Library Fund reported a positive fund balance of $923,559 at the end of fiscal year 2022, which
represents an increase of $116,338 over last year’s fund balance amount of $807,221. Property taxes used
to finance library operations, which accounted for 91.7% of total library operational revenues, increased by
$37,365 (5.1%). Aggregate operational expenditures increased by $35,643 (4.5%), as a result of
inflationary increases in wages and utilities, along with an expansion in the number of hours worked by
part-time personnel, as Library hours of operation returned to its pre-pandemic norm.
22
The Parks and Recreation Fund reported a deficit in the amount of $73,000 at the close of the current fiscal
year, thus decreasing fund balance from $73,000 to $0, as stipulated in the fiscal year 2022 budget. The
Parks and Recreation Fund, more so than any other Fund in the City, had been the most negatively impacted
by the pandemic, due to the very social nature of its revenue generating activities. Fortunately, aggregate
charge for service (comprised of child development, concession, special events and athletics & fitness)
revenues returned to pre-COVID-19 levels, posting collective year-over-year gains of 53.8% ($192,023),
as social distancing guidelines were phased out and program participation levels returned to normal.
Operational expenditures in the Parks and Recreation Fund increased by 6.2%, due to the addition of a new
full-time Park’s maintenance employee, increased program spending and the restoration of the City’s
annual Hometown Day’s festival, which was canceled in 2020 due to the pandemic.
The Citywide Capital Fund ended fiscal year 2022 with a surplus of just over $2.0 million, which increased
fund balance from $119,569 to $2,165,601. Aggregate revenues exceeded prior year amounts by $1.2
million, as developer reimbursements directly offset roadway expenditures in the Grande Reserve
subdivision. Transfers in for fiscal year 2022 totaled $3,138,492, comprised of a $2.0 million transfer from
the Building and Grounds Fund as a payback for land acquisition costs incurred in the previous year; and a
$1.1 million transfer from the General Fund to be used towards future capital projects. On the other side
of the ledger, roadway related capital expenditures increased by $2.3 million, as the City continued work
on several major road projects and launched its inaugural sidewalk replacement program in the amount of
$159,960.
The Buildings and Grounds Fund was created in the current fiscal year for the purposes of accounting for
the maintenance, acquirement and improvements of all City-owned buildings. The Fund has one full time
employee, who works in conjunction with the Facilities Manager, which is a shared position between
Yorkville and the Village of Oswego. Personnel costs for the Fund are financed by permit fees and
chargebacks, whereas building related maintenance and supplies are funded by a transfer from the General
Fund. This Fund received $9.785 million in bond proceeds, in addition to a General Fund transfer of $3.324
million in fiscal year 2022, which has been earmarked for the renovation of the new City Hall and Police
Station facility. As of April 30, 2022, just under $1.1 million has been incurred in renovation costs
associated with this project.
23
GENERAL FUND BUDGETARY HIGHLIGHTS
The chart below compares the fiscal year 2022 final budget to the actual results of the City’s General Fund.
Fiscal Year 2022 General Fund Budgetary Highlights
Final Budget Actual Over (Under)
Actual as
%
of Budget
Revenues
Taxes $ 12,089,017 $ 14,350,349 $ 2,261,332 119%
Intergovernmental 3,401,780 5,630,190 2,228,410 166%
Licenses, Permits and Fees 524,500 834,170 309,670 159%
Charges for Services 1,781,123 1,902,362 121,239 107%
Fines and Forfeitures 116,850 197,158 80,308 169%
Interest 20,000 (33,857) (53,857) -169%
Miscellaneous 132,000 237,575 105,575 180%
Total Revenues $ 18,065,270 $ 23,117,947 $ 5,052,677 128%
Expenditures
General Government $ 5,293,141 $ 5,141,027 $ (152,114) 97%
Public Safety 6,158,904 6,018,903 (140,001) 98%
Community Development 990,515 1,154,892 164,377 117%
Public Works 2,649,285 2,572,571 (76,714) 97%
Total Expenditures $ 15,091,845 $ 14,887,393 $ (204,452) 99%
Excess of Revenues over Expenditures $ 2,973,425 $ 8,230,554 $ 5,257,129 277%
Other Financing Sources (Uses) (2,973,425) (6,775,808) 3,802,383 228%
Net Change in Fund Balance $ - $ 1,454,746
Fund Balance - Beginning of Year 9,172,354
Fund Balance - End of Year $ 10,627,100
The General Fund is the City’s primary operating fund and the largest source of funding for the day-to-day
activities of its various departments. Actual revenues exceed budgetary amounts by $5,052,677; as taxes,
intergovernmental, licenses & permits, fines, charges for service and miscellaneous revenues proved to be
more robust than initially anticipated. In August of 2021, the City received its first tranche of $1.4 million
from the American Rescue Plan Act (ARPA), which was signed into law in March of 2021. Based on
guidelines promulgated by the United States Treasury Department’s Final Rule, these proceeds were
accounted for as revenue loss within the City’s General Fund and applied towards sworn police officer
salary expenditures incurred over the course of the fiscal year.
Aggregate building permits totaled $949,459 in fiscal year 2022, of which $745,979 was retained in the
General Fund to cover inspection related personnel, operating and vehicle costs within the Community
Development Department. Per the City’s past practice, remaining building permit proceeds were allocated
to the Citywide Capital Fund, to assist in the facilitation of future roadway related capital projects. Despite
the continual increase in General Fund cash reserves, investment income continued to lag pre-COVID
actuals in the current fiscal year, as interest rates remained at historically low levels, which began with the
onset of the pandemic in March of 2020. The negative $33,857 interest amount presented on the preceding
page is comprised of realized positive earnings of $11,013 and an unrealized loss of negative $44,870. The
unrealized losses are ascribed to the City’s investment in United States Treasury securities, which fluctuate
in value as the market changes, and are accounted for under the mark-to-market basis pursuant to Generally
Accepted Accounting Principles (GAAP). These losses will not become realized, as it’s the City’s policy
to hold such investments to maturity.
24
Actual General Fund expenditures for the year were $204,452 lower than budget ($14,887,393 actual
compared to $15,091,845 budgeted), as all departments within the General Fund, with the exception of
Community Development and the Administration Services Department, were under their respective
appropriated budgets. The expenditure overage of $43,150 in Administrative Services was due to higher
than expected municipal and business district sales tax rebates, which were directly correlated with the
remarkable revenue growth of those types of sales taxes over the course of the current fiscal year.
Community Development exceeded budgeted amounts by $164,377, caused by increased demand for
outsourced inspection services needed to maintain timely issuance of building permits, and the expediting
of vehicle purchases due to supply chain issues. Net other financing uses (i.e., transfers out) exceeded
budgetary amounts by $3.8 million, as the City Council decided to supplement transfers to the Capital
Project Funds in order to finance roadway and building projects in subsequent fiscal years.
As shown in the table on the previous page, current year operating results generated a surplus amount of
$1,454,746, which increased overall fund balance from $9,172,354 at the beginning of the year, to
$10,627,100 at the end of fiscal year 2022. The surplus at fiscal year-end was primarily attributable to
enhanced revenues, predominately related to the tax and intergovernmental categories; and lower than
expected salary and benefit expenditures, as a direct result of retirements and temporary vacancies. Ending
fund balance for the General Fund was comprised of nonspendable (i.e., prepaid) amounts totaling
$162,600, with the remaining balance of $10,464,500 classified as unassigned, which can be used for any
corporate purpose. At the culmination of fiscal year 2022, unassigned fund balance as a percentage of total
expenditures equated to 70.3%, which is the equivalent of approximately eight to nine months of operating
reserves.
Proprietary Funds - The United City of Yorkville’s proprietary funds provide the same type of information
found in the government-wide financial statements, but in greater detail. The net position of the City’s
proprietary funds at the end of the year totaled $73,832,011, allocated between the Water and Sewer Funds
in the amounts of $38,116,454 and $35,715,557, respectively. Lower than expected operational expenses
and the deferral of capital projects and vehicle purchases (due to ongoing supply chain issues) into the
subsequent fiscal year, accounted for the bulk of the increase.
CAPITAL ASSET AND DEBT ADMINISTRATION
Capital Assets – The United City of Yorkville’s investment in capital assets for its governmental and
business-type activities as of April 30, 2022 totaled $175,452,220 (net of accumulated depreciation).
Investments in capital assets include land, land improvements, construction in progress (CIP), infrastructure
(roadway improvements, sanitary sewer lines, storm sewers and watermains), buildings, equipment and
vehicles. The following tables summarize the changes in the City’s capital assets for governmental and
business-type activities.
Change in Capital Assets – Governmental Activities (in millions)
NetBalanceAdditions/BalanceMay 1, 2021 (Deletions)April 30, 2022Non-Depreciable Assets:Land and Construction in Progress 34.6$ 4.5$ 39.1$
Depreciable Capital Assets:Buildings 15.7 - 15.7 Equipment 9.1 0.2 9.3 Vehicles 3.2 0.2 3.4 Infrastructure 78.5 2.8 81.3 Accumulated Depreciation on Capital Assets (40.6) (2.7) (43.3)
Total Capital Assets, Net 100.5$ 5.0$ 105.5$
25
Total net capital assets for the City’s governmental activities increased by $5.0 million in the current fiscal
year, predominately due to developer donated roadway and storm sewer infrastructure, ongoing City
financed street infrastructure and building improvement projects, and the capitalization of infrastructure
improvements stemming from the 2021 road program. During the fiscal year depreciation expense totaling
$2,913,659 was charged to the following functions: General Government ($115,579), Library ($182,235),
Parks and Recreation ($137,871), Public Safety ($125,759), and Public Works ($2,352,215).
Change in Capital Assets – Business-Type Activities (in millions)
NetBalanceAdditions/BalanceMay 1, 2021 Deletions April 30, 2022Non-Depreciable Assets:Land and Construction in Progress 3.6$ 1.3$ 4.9$
Depreciable Capital Assets:Equipment 19.1 0.0 19.2 Vehicles 0.6 - 0.6 Infrastructure 69.8 0.3 70.1 Accumulated Depreciation on Capital Assets (22.9) (1.8) (24.7)
Total Capital Assets, Net 70.2$ (0.2)$ 70.0$
Net capital assets decreased by $198,793 in fiscal year 2022, as depreciation expense exceeded asset
addition amounts recorded as infrastructure and construction in progress. Developer capital asset additions
for the year totaled $340,549 and were comprised of water infrastructure improvements ($111,473), and
sewer infrastructure improvements ($229,076) located within the Grande Reserve subdivision. During the
fiscal year depreciation expense of $1,111,786 and $732,083 was charged to the Water and Sewer Funds
functional expense categories, respectively. For more detailed information, related to capital assets, see
Note 3 to the financial statements.
Debt Administration
As of April 30, 2022, the United City of Yorkville had total debt outstanding of $29,845,833, which
included general obligation and alternative revenue source bonds, debt certificates, developer commitments
and loans payable. This amount is partially comprised of eight alternative revenue bonds which pledge
income, sales, incremental property taxes, and water/sewer revenues. In addition, these bonds would be
reverted to the property tax rolls should the alternative revenue source prove to be inadequate. Governmental Business-Type
Activities Activities Total
General Obligation & Alternative
Revenue Source Bonds 17,781,130$ 8,455,165$ 26,236,295$
Debt Certificates - 155,000 155,000
Developer Commitments - 2,505,402 2,505,402
Notes and Loans Payable 420,112 529,024 949,136
18,201,242$ 11,644,591$ 29,845,833$
The City’s general obligation debt is rated AA by Standard & Poor’s and Fitch Ratings. Yorkville is a non-
home rule community and as such is subject to a legal debt limit of 8.625% of the equalized assessed value
(EAV) of the City, per State statute. The 2021 EAV of the City was $623,597,568, which resulted in a
legal debt limit of $53,785,290. At the end of the fiscal year, the City had $2,535,000 in debt applicable to
the debt limit, resulting in a debt to EAV ratio of 0.41%. For more detailed information related to long-
term debt, see Note 3 to the financial statements.
26
ECONOMIC FACTORS AND NEXT YEAR’S BUDGET
Fiscal year 2023 saw the General Fund continue to build up its reserves, as overall fund balance exceeded
$10.6 million, eclipsing its previous apex of $9.2 million in the year prior. Despite all the uncertainty
surrounding the last two fiscal years, management is pleased to report that the anticipated negative financial
effects of the COVID-19 pandemic did not come to fruition; as the City’s primary locally sourced revenue
streams, consisting of sales taxes, property taxes, income taxes and building permits, have thus far remained
resilient. Furthermore, based on the overall operating results of fiscal year 2022 and the events that have
come to pass thus far in fiscal year 2023, it would appear that the local economy has continued to remain
stable and that development in Yorkville continues to carry on in a progressive manner, as the City remains
committed to developing economic incentives and other measures to attract and retain businesses.
After a 7.0% increase last year, overall property values (i.e., assessed valuation) in the City are currently
estimated to increase an additional 11.4% in 2022, which is a positive indicator that the local housing market
continues to strengthen. Despite the increases in EAV over the last several years, the City remains mindful
of its impact on residents when developing the annual property tax levy. For the 2021 levy year, the City
Council once again continued its past practice of only increasing the levy by the incremental property tax
proceeds generated from new construction. This resulted in the City foregoing the inflationary increment
of the levy, valued at approximately $50,000.
As the City moved forward into the subsequent fiscal year, management continued its practice of
conservatively projecting revenues, while looking for ways to reduce expenditures, in order to maintain
adequate fund balances and cash reserves. In addition, management continues to monitor the fiscal activities
of the State of Illinois, in order to ascertain the impact, if any, of how additional State budget cuts would
impact Yorkville’s share of State revenues.
Looking ahead at fiscal year 2023 from a financial planning standpoint, the General Fund budget is at
breakeven, with continued budgetary emphasis on enhanced funding for roadway improvements and
vehicle and equipment replacement. At the same time, the City remains committed to maintaining adequate
reserves, should an economic downturn occur. Budgeted capital and other significant projects for the
upcoming fiscal year total around $15 million (excluding City-owned building projects) and include: the
continuation of the annual “Road to Better Roads” program, with approximately $2.44 million budgeted
for roadway improvements; the implementation of new enterprise resource planning system; the
continuance of the City’s sidewalk replacement and pavement striping program, along with a new shared
use and parking lot maintenance programs; potential grant funding for road infrastructure improvements on
Van Emmon Street and Bristol Ridge Road, in addition to roadway and underground utility work in the
City’s downtown; water infrastructure improvements on Prairie Lane, Pleasure Drive and Georgeanna
Street; and vehicle and equipment purchases budgeted at $2.1 million.
REQUESTS FOR INFORMATION
This financial report is designed to provide our citizens, customers, investors and creditors with a general
overview of the City’s finances. Questions concerning this report or requests for additional financial
information should be directed to Rob Fredrickson, Director of Finance, United City of Yorkville, 800
Game Farm Road, Yorkville, Illinois.
27
• Government-Wide Financial Statements
• Fund Financial Statements
Governmental Funds
Proprietary Funds
Fiduciary Fund
BASIC FINANCIAL STATEMENTS
The basic financial Statements include integrated sets of financial statements as required by the GASB. The sets
of statements include:
In addition, the notes to the financial statements are included to provide information that is essential to a user’s
understanding of the basic financial statements.
28
UNITED CITY OF YORKVILLE, ILLINOIS
Statement of Net Position
April 30, 2022
See Following Page
29
UNITED CITY OF YORKVILLE, ILLINOIS
Statement of Net Position
April 30, 2022
Business-Type
Activities Totals
Current Assets
Cash and Investments $26,171,576 3,977,608 30,149,184
Receivables - Net 10,448,231 1,184,063 11,632,294
Prepaids 214,419 31,232 245,651
Total Current Assets 36,834,226 5,192,903 42,027,129
Noncurrent Assets
Capital Assets
Nondepreciable Capital Assets 39,077,602 4,849,403 43,927,005
Depreciable Capital Assets 109,759,284 89,961,778 199,721,062
Accumulated Depreciation (43,367,961)(24,827,886)(68,195,847)
Total Capital Assets 105,468,925 69,983,295 175,452,220
Other Assets
Net Pension Asset - IMRF 1,528,392 330,272 1,858,664
Assets Held for Others - 11,091,000 11,091,000
Total Other Assets 1,528,392 11,421,272 12,949,664
Total Noncurrent Assets 106,997,317 81,404,567 188,401,884
Total Assets 143,831,543 86,597,470 230,429,013
Deferred Items - IMRF 315,996 68,283 384,279
Deferred Items - RBP 308,821 46,145 354,966
Deferred Items - Police Pension 1,587,776 - 1,587,776
Deferred Items - ARO - 2,708,692 2,708,692
Unamortized Loss on Refunding 43,246 4,269 47,515
Total Deferred Outflows of Resources 2,255,839 2,827,389 5,083,228
Total Assets and Deferred Outflows of Resources 146,087,382 89,424,859 235,512,241
Governmental
Activities
ASSETS
DEFERRED OUTFLOWS OF RESOURCES
The notes to the financial statements are an integral part of this statement.
30
Business-Type
Activities Totals
Current Liabilities
Accounts Payable $2,575,522 367,722 2,943,244
Deposits Payable 4,874,754 - 4,874,754
Accrued Payroll 182,911 27,131 210,042
Accrued Interest Payable 198,031 81,522 279,553
Other Payables 173,228 5,363 178,591
Current Portion of Long-Term Debt 2,161,979 2,715,795 4,877,774
Total Current Liabilities 10,166,425 3,197,533 13,363,958
Noncurrent Liabilities
Compensated Absences Payable 553,206 68,649 621,855
Net Pension Liability - Police Pension 12,558,636 - 12,558,636
Total OPEB Liability - RBP 959,165 143,322 1,102,487
Other Liabilities 1,890 - 1,890
Notes Payable 360,969 - 360,969
IEPA Loans Payable - 416,521 416,521
General Obligation Bonds Payable - Net 15,814,706 6,061,589 21,876,295
Developer Agreements - 2,505,402 2,505,402
Asset Retirement Obligation - 2,783,000 2,783,000
Total Noncurrent Liabilities 30,248,572 11,978,483 42,227,055
Total Liabilities 40,414,997 15,176,016 55,591,013
Property and State Taxes 6,419,823 - 6,419,823
Deferred Items - IMRF 1,793,395 387,537 2,180,932
Deferred Items - RBP 196,056 29,295 225,351
Deferred Items - Police Pension 955,035 - 955,035
Total Deferred Inflows of Resources 9,364,309 416,832 9,781,141
Total Liabilities and Deferred Inflows of Resources 49,779,306 15,592,848 65,372,154
Net Investment in Capital Assets 93,931,218 60,848,375 154,779,593
Restricted
Library Operations 913,690 - 913,690
Motor Fuel Tax 269,412 - 269,412
Special Service Areas 23,962 - 23,962
Land Cash 33,843 - 33,843
Capital Projects - Bond Proceeds 6,618,399 - 6,618,399
Unrestricted (Deficit)(5,482,448)12,983,636 7,501,188
Total Net Position 96,308,076 73,832,011 170,140,087
LIABILITIES
NET POSITION
Governmental
Activities
DEFERRED INFLOWS OF RESOURCES
The notes to the financial statements are an integral part of this statement.
31
UNITED CITY OF YORKVILLE, ILLINOIS
Statement of Activities
For the Fiscal Year Ended April 30, 2022
Charges Operating Capital
for Grants/Grants/
Services Contributions Contributions
Governmental Activities
General Government $4,822,508 3,508,715 - -
Library 1,017,179 121,557 48,746 -
Parks and Recreation 2,471,380 549,231 10,512 -
Public Safety 5,893,447 - - 9,590
Community Development 1,044,496 - - -
Public Works 5,545,928 1,182,864 2,775,386 1,122,368
Interest on Long-Term Debt 627,947 - - -
Total Governmental Activities 21,422,885 5,362,367 2,834,644 1,131,958
Business-Type Activities
Sewer 1,632,962 1,714,066 - 229,076
Water 3,630,501 4,944,694 - 111,473
Total Business-Type Activities 5,263,463 6,658,760 - 340,549
26,686,348 12,021,127 2,834,644 1,472,507
General Revenues
Taxes
Property Taxes
Utility Taxes
Business District Taxes
Admissions and
Amusement Taxes
Video Gaming Taxes
Other Taxes
Intergovernmental - Unrestricted
Sales Taxes
Income Taxes
State Use Taxes
Interest Income (Loss)
Miscellaneous
Transfers - Internal Activity
Change in Net Position
Net Position - Beginning
Net Position - Ending
Expenses
Program Revenues
The notes to the financial statements are an integral part of this statement.
32
Governmental Business-Type
Activities Activities Totals
(1,313,793)- (1,313,793)
(846,876)- (846,876)
(1,911,637)- (1,911,637)
(5,883,857)- (5,883,857)
(1,044,496)- (1,044,496)
(465,310)- (465,310)
(627,947)- (627,947)
(12,093,916)- (12,093,916)
- 310,180 310,180
- 1,425,666 1,425,666
- 1,735,846 1,735,846
(12,093,916)1,735,846 (10,358,070)
5,544,463 - 5,544,463
1,707,542 - 1,707,542
547,651 - 547,651
337,279 - 337,279
252,890 - 252,890
236,841 - 236,841
7,933,942 - 7,933,942
3,175,556 - 3,175,556
798,764 - 798,764
(24,510)(21,573)(46,083)
2,096,524 163,641 2,260,165
(624,307)624,307 -
21,982,635 766,375 22,749,010
9,888,719 2,502,221 12,390,940
86,419,357 71,329,790 157,749,147
96,308,076 73,832,011 170,140,087
Net (Expenses)/Revenues
Primary Government
The notes to the financial statements are an integral part of this statement.
33
UNITED CITY OF YORKVILLE, ILLINOIS
Balance Sheet - Governmental Funds
April 30, 2022
Cash and Investments $7,117,389
Receivables - Net of Allowances
Property Taxes 3,560,742
Accounts 1,040,135
Grants 11,656
Other Taxes 3,916,739
Due from Other Funds 2,829,423
Prepaids 162,600
Total Assets 18,638,684
Accounts Payable 965,949
Deposit Payable 2,158,320
Accrued Payroll 132,592
Due to Other Funds -
Other Payables 4,707
Total Liabilities 3,261,568
Property and State Taxes 4,750,016
Total Liabilities and Deferred Inflows of Resources 8,011,584
Nonspendable 162,600
Restricted -
Assigned -
Unassigned 10,464,500
Total Fund Balances 10,627,100
Total Liabilities, Deferred Inflows of Resources and Fund Balances 18,638,684
FUND BALANCES
LIABILITIES
General
ASSETS
DEFERRED INFLOWS OF RESOURCES
The notes to the financial statements are an integral part of this statement.
34
Parks and Citywide Buildings and
Library Recreation Capital Grounds Nonmajor Totals
996,651 171,848 5,033,665 10,693,229 2,158,794 26,171,576
1,669,807 - - - - 5,230,549
325 2,338 148,807 164 29,691 1,221,460
- - - - - 11,656
3,996 - - - 63,831 3,984,566
- - - - - 2,829,423
9,869 41,876 - 74 - 214,419
2,680,648 216,062 5,182,472 10,693,467 2,252,316 39,663,649
21,744 88,394 538,828 688,201 272,406 2,575,522
- 9,375 2,446,043 - 261,016 4,874,754
10,262 37,048 - 3,009 - 182,911
- - - - 2,829,423 2,829,423
55,276 81,245 32,000 - - 173,228
87,282 216,062 3,016,871 691,210 3,362,845 10,635,838
1,669,807 - - - - 6,419,823
1,757,089 216,062 3,016,871 691,210 3,362,845 17,055,661
9,869 41,876 - - - 214,345
913,690 - - 6,618,399 327,217 7,859,306
- - 2,165,601 3,383,858 1,391,622 6,941,081
- (41,876)- - (2,829,368)7,593,256
923,559 - 2,165,601 10,002,257 (1,110,529)22,607,988
2,680,648 216,062 5,182,472 10,693,467 2,252,316 39,663,649
Capital ProjectsSpecial Revenue
The notes to the financial statements are an integral part of this statement.
35
UNITED CITY OF YORKVILLE, ILLINOIS
Reconciliation of Total Governmental Fund Balance to
Net Position of Governmental Activities
April 30, 2022
Total Governmental Fund Balances $22,607,988
Amounts reported for governmental activities in the Statement of Net Position
are different because:
Capital assets used in governmental activities are not financial
resources and therefore, are not reported in the funds.105,468,925
Deferred outflows (inflows) of resources related to the pensions not reported in the funds.
Deferred Items - IMRF (1,477,399)
Deferred Items - Police Pension 632,741
Deferred Items - RBP 112,765
Long-term liabilities are not due and payable in the current
period and, therefore, are not reported in the funds.
Accrued Interest Payable (198,031)
Compensated Absences Payable (691,508)
Net Pension Liability/(Asset) - IMRF 1,528,392
Net Pension Liability - Police Pension (12,558,636)
Total OPEB Liability - RBP (959,165)
Notes Payable (418,222)
General Obligation Bonds Payable (17,781,130)
Unamortized Loss on Refunding 43,246
Other Obligations Payable (1,890)
Net Position of Governmental Activities 96,308,076
The notes to the financial statements are an integral part of this statement.
36
UNITED CITY OF YORKVILLE, ILLINOIS
Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds
For the Fiscal Year Ended April 30, 2022
See Following Page
37
UNITED CITY OF YORKVILLE, ILLINOIS
Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds
For the Fiscal Year Ended April 30, 2022
Revenues
Taxes $14,350,349
Intergovernmental 5,630,190
Licenses, Permits and Fees 834,170
Charges for Services 1,902,362
Fines and Forfeits 197,158
Grants and Donations -
Interest Income (Loss)(33,857)
Miscellaneous 237,575
Total Revenues 23,117,947
Expenditures
General Government 5,141,027
Library -
Parks and Recreation -
Public Safety 6,018,903
Community Development 1,154,892
Public Works 2,572,571
Capital Outlay -
Debt Service
Principal Retirement -
Interest and Fiscal Charges -
Total Expenditures 14,887,393
Excess (Deficiency) of Revenues
Over (Under) Expenditures 8,230,554
Other Financing Sources (Uses)
Sale of Capital Assets -
Debt Issuance -
Premium on Debt Issuance -
Transfers In 21,231
Transfers Out (6,797,039)
(6,775,808)
Net Change in Fund Balances 1,454,746
Fund Balances - Beginning 9,172,354
Fund Balances - Ending 10,627,100
General
The notes to the financial statements are an integral part of this statement.
38
Parks and Citywide Buildings and
Library Recreation Capital Grounds Nonmajor Totals
1,611,808 - - - 462,322 16,424,479
48,746 - - - 1,265,235 6,944,171
103,850 - 216,195 21,231 121,461 1,296,907
11,131 549,231 837,007 108,431 446,035 3,854,197
6,576 - - - 7,529 211,263
- 7,800 - - 2,712 10,512
1,530 87 4,712 1,172 1,846 (24,510)
2,796 235,413 1,619,841 576 323 2,096,524
1,786,437 792,531 2,677,755 131,410 2,307,463 30,813,543
- - - - 123,725 5,264,752
834,944 - - - - 834,944
- 2,381,042 - - - 2,381,042
- - - - 466 6,019,369
- - - - - 1,154,892
- - 285,078 238,056 128,911 3,224,616
18,050 - 2,679,942 1,078,232 2,758,453 6,534,677
720,000 - 200,000 - 677,659 1,597,659
121,914 - 115,813 239,522 139,346 616,595
1,694,908 2,381,042 3,280,833 1,555,810 3,828,560 27,628,546
91,529 (1,588,511)(603,078)(1,424,400)(1,521,097)3,184,997
- - - - 35,598 35,598
- - - 9,260,000 - 9,260,000
- - - 525,011 - 525,011
24,809 1,515,511 3,138,492 3,709,380 320,425 8,729,848
- - (489,382)(2,067,734)- (9,354,155)
24,809 1,515,511 2,649,110 11,426,657 356,023 9,196,302
116,338 (73,000)2,046,032 10,002,257 (1,165,074)12,381,299
807,221 73,000 119,569 - 54,545 10,226,689
923,559 - 2,165,601 10,002,257 (1,110,529)22,607,988
Special Revenue Capital Projects
The notes to the financial statements are an integral part of this statement.
39
UNITED CITY OF YORKVILLE, ILLINOIS
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of
Governmental Funds to the Statement of Activities
For the Fiscal Year Ended April 30, 2022
Net Change in Fund Balances - Total Governmental Funds $12,381,299
Amounts reported for governmental activities in the Statement of Activities
are different because:
Governmental funds report capital outlays as expenditures. However, in the
Statement of Activities the cost of those assets is allocated over their estimated
useful lives and reported as depreciation expense.
Capital Outlays 6,786,994
Capital Contributions 1,122,368
Depreciation Expense (2,913,659)
Disposals - Cost (212,661)
Disposals - Accumulated Depreciation 212,661
The net effect of deferred outflows (inflows) of resources related to the pensions
not reported in the funds.
Change in Deferred Items - IMRF (711,831)
Change in Deferred Items - Police Pension 2,261,207
Change in Deferred Items - RBP (106,448)
The issuance of long-term debt provides current financial resources to
governmental funds, while the repayment of the principal on long-term
debt consumes the current financial resources of the governmental funds.
Change in Compensated Absences Payable (7,565)
Change in Net Pension Liability/(Asset) - IMRF 1,273,019
Change in Net Pension Liability - Police Pension (2,108,609)
Change in Total OPEB Liability - RBP 110,648
Debt Issuance (9,260,000)
Premium on Debt Issuance (525,011)
Retirement of Debt 1,597,659
Amortization of Loss on Refunding (21,702)
Amortization of Premium 67,984
Changes to accrued interest on long-term debt in the Statement of Activities
does not require the use of current financial resources and, therefore, are not
reported as expenditures in the governmental funds.(57,634)
Changes in Net Position of Governmental Activities 9,888,719
The notes to the financial statements are an integral part of this statement.
40
UNITED CITY OF YORKVILLE, ILLINOIS
Statement of Net Position - Proprietary Funds
April 30, 2022
See Following Page
41
UNITED CITY OF YORKVILLE, ILLINOIS
Statement of Net Position - Proprietary Funds
April 30, 2022
Water Totals
Current Assets
Cash and Investments $756,513 3,221,095 3,977,608
Receivables - Net of Allowances
Accounts 327,348 856,715 1,184,063
Prepaids 7,987 23,245 31,232
Total Current Assets 1,091,848 4,101,055 5,192,903
Noncurrent Assets
Capital Assets
Nondepreciable 674,494 4,174,909 4,849,403
Depreciable 37,026,888 52,934,890 89,961,778
Accumulated Depreciation (8,474,177)(16,353,709)(24,827,886)
29,227,205 40,756,090 69,983,295
Other Assets
Net Pension Asset - IMRF 114,443 215,829 330,272
Assets Held for Others 11,091,000 - 11,091,000
Total Other Assets 11,205,443 215,829 11,421,272
Total Noncurrent Assets 40,432,648 40,971,919 81,404,567
Total Assets 41,524,496 45,072,974 86,597,470
Deferred Items - IMRF 23,660 44,623 68,283
Deferred Items - RBP 17,834 28,311 46,145
Deferred Items - ARO - 2,708,692 2,708,692
Unamortized Loss (Gain) on Refunding 3,539 730 4,269
45,033 2,782,356 2,827,389
Total Assets and Deferred Outflows of Resources 41,569,529 47,855,330 89,424,859
Business-Type Activities - Enterprise
Sewer
ASSETS
DEFERRED OUTFLOWS OF RESOURCES
The notes to the financial statements are an integral part of this statements.
42
Water Totals
Current Liabilities
Accounts Payable $81,210 286,512 367,722
Accrued Payroll 9,147 17,984 27,131
Accrued Interest Payable 17,103 64,419 81,522
Other Payables - 5,363 5,363
Current Portion of Long-Term Debt 1,189,821 1,525,974 2,715,795
Total Current Liabilities 1,297,281 1,900,252 3,197,533
Noncurrent Liabilities
Compensated Absences Payable 13,098 55,551 68,649
Total OPEB Liability - RBP 55,392 87,930 143,322
IEPA Loans Payable - 416,521 416,521
General Obligation Bonds Payable - Net 3,140,000 2,921,589 6,061,589
Developer Agreements 1,202,593 1,302,809 2,505,402
Asset Retirement Obligation - 2,783,000 2,783,000
Total Noncurrent Liabilities 4,411,083 7,567,400 11,978,483
Total Liabilities 5,708,364 9,467,652 15,176,016
Deferred Items - IMRF 134,286 253,251 387,537
Deferred Items - RPB 11,322 17,973 29,295
Total Deferred Inflows of Resources 145,608 271,224 416,832
Total Liabilities and Deferred Inflows of Resources 5,853,972 9,738,876 15,592,848
Net Investment in Capital Assets 24,915,744 35,932,631 60,848,375
Unrestricted 10,799,813 2,183,823 12,983,636
Total Net Position 35,715,557 38,116,454 73,832,011
NET POSITION
LIABILITIES
Sewer
Business-Type Activities - Enterprise
DEFERRED INFLOWS OF RESOURCES
The notes to the financial statements are an integral part of this statements.
43
UNITED CITY OF YORKVILLE, ILLINOIS
Statement of Revenues, Expenses and Changes in Net Position - Proprietary Funds
For the Fiscal Year Ended April 30, 2022
Water Totals
Operating Revenues
Charges for Services $1,513,766 4,661,610 6,175,376
Operating Expenses
Operations 660,028 2,246,249 2,906,277
Depreciation and Amortization 734,417 1,121,240 1,855,657
Total Operating Expenses 1,394,445 3,367,489 4,761,934
Operating Income 119,321 1,294,121 1,413,442
Nonoperating Revenues (Expenses)
Interest Income 3,139 2,031 5,170
Unrealized Gain (Loss)- (29,663)(29,663)
Connection Fees 200,300 283,084 483,384
Other Income 56,067 110,494 166,561
Interest Expense (238,517)(263,012)(501,529)
20,989 102,934 123,923
Income Before Transfers and Contributions 140,310 1,397,055 1,537,365
Capital Contributions 229,076 111,473 340,549
Transfers In 519,749 180,233 699,982
Transfers Out (75,675)- (75,675)
673,150 291,706 964,856
Change in Net Position 813,460 1,688,761 2,502,221
Net Position - Beginning 34,902,097 36,427,693 71,329,790
Net Position - Ending 35,715,557 38,116,454 73,832,011
Business-Type Activities - Enterprise
Sewer
The notes to the financial statements are an integral part of this statement.
44
UNITED CITY OF YORKVILLE, ILLINOIS
Statement of Cash Flows - Proprietary Funds
For the Fiscal Year Ended April 30, 2022
Water Totals
Cash Flows from Operating Activities
Receipts from Customers and Users $1,617,320 4,918,394 6,535,714
Payments to Employees (499,696)(259,124)(758,820)
Payments to Suppliers (96,083)(1,744,523)(1,840,606)
1,021,541 2,914,747 3,936,288
Cash Flows from Noncapital Financing Activities
Transfers In 519,749 180,233 699,982
Transfers (Out)(75,675)- (75,675)
444,074 180,233 624,307
Cash Flows from Capital and Related Financing Activities
Purchase of Capital Assets (120,222)(1,184,305)(1,304,527)
Debt Issuance 4,160,000 - 4,160,000
Debt Repayment (5,175,000)(1,597,287)(6,772,287)
Interest Payments (238,517)(263,012)(501,529)
(1,373,739)(3,044,604)(4,418,343)
Cash Flows from Investing Activities
Investment Income 3,139 (27,632)(24,493)
Net Change in Cash and Cash Equivalents 95,015 22,744 117,759
Cash and Cash Equivalents - Beginning 661,498 3,198,351 3,859,849
Cash and Cash Equivalents - Ending 756,513 3,221,095 3,977,608
Reconciliation of Operating Income to Net Cash Provided
(Used) by Operating Activities
Operating Income 119,321 1,294,121 1,413,442
Adjustments to Reconcile Operating Income to Net Income
to Net Cash Provided by (Used in) Operating Activities:
Depreciation and Amortization Expense 734,417 1,121,240 1,855,657
Connection Fees/Other Income 256,367 393,578 649,945
(Increase) Decrease in Current Assets (152,813)(136,794)(289,607)
Increase (Decrease) in Current Liabilities 64,249 242,602 306,851
Net Cash Provided by Operating Activities 1,021,541 2,914,747 3,936,288
Noncash Capital and Related Financing Activities
Capital Contributions 229,076 111,473 340,549
Business-Type Activities - Enterprise
Sewer
The notes to the financial statement are an integral part of this statement.
45
UNITED CITY OF YORKVILLE, ILLINOIS
Statement of Fiduciary Net Position
April 30, 2022
Cash and Cash Equivalents $831,635
Investments
U.S. Treasury Securities 3,506,849
U.S. Agency Securities 165,486
Corporate Bonds 946,135
Mutual Funds 5,433,015
Common Stocks 3,576,277
Accrued Interest 23,931
Total Assets 14,483,328
None -
Net Position Restricted for Pensions 14,483,328
NET POSITION
Trust
Pension
Police
ASSETS
LIABILITIES
The notes to the financial statement are an integral part of this statement.
46
UNITED CITY OF YORKVILLE, ILLINOIS
Statement of Changes in Fiduciary Net Position
For the Fiscal Year Ended April 30, 2022
Additions
Contributions - Employer $1,334,771
Contributions - Plan Members 278,502
Total Contributions 1,613,273
Investment Income
Interest Earned 453,072
Net Change in Fair Value (1,128,874)
(675,802)
Less Investment Expenses (55,339)
Net Investment Income (731,141)
Total Additions 882,132
Deductions
Administration 19,334
Benefits and Refunds 955,800
Total Deductions 975,134
Change in Fiduciary Net Position (93,002)
Net Position Restricted for Pensions
Beginning 14,576,330
Ending 14,483,328
Police
Trust
Pension
The notes to the financial statement are an integral part of this statement.
47
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The United City of Yorkville (City) is an Illinois unit of local government. The financial statements
include all functions, programs and activities under control of the City Council. The City’s major
operations include public safety, public works, library, parks and recreation, community development,
water and sewer services, and general administration. The City Council has oversight responsibility for
the City, the Public Library and the Park and Recreation Board. Oversight responsibility includes
designation of management and all other control over operations of these entities.
The government-wide financial statements are prepared in accordance with generally accepted
accounting principles (GAAP). The Governmental Accounting Standards Board (GASB) is responsible
for establishing GAAP for state and local governments through its pronouncements (Statements and
Interpretations). The more significant of the City’s accounting policies established in GAAP and used by
the City are described below.
REPORTING ENTITY
The City’s financial reporting entity comprises the following:
Primary Government: United City of Yorkville
In determining the financial reporting entity, the City complies with the provisions of GASB Statement
No. 61, “The Financial Reporting Omnibus - an Amendment of GASB Statements No. 14 and No. 34,”
and includes all component units that have a significant operational or financial relationship with the
City. Based upon the criteria set forth in the GASB Statement No. 61, there are no component units
included in the reporting entity.
Police Pension Employees Retirement System
The City’s police employees participate in the Police Pension Employees Retirement System (PPERS).
PPERS functions for the benefit of these employees and is governed by a five-member pension board.
Two members appointed by the City’s Mayor, one elected pension beneficiary and two elected police
employees constitute the pension board. The participants are required to contribute a percentage of salary
as established by state statute and the City is obligated to fund all remaining PPERS costs based upon
actuarial valuations. The State of Illinois is authorized to establish benefit levels and the City is authorized
to approve the actuarial assumptions used in the determination of contribution levels. Although it is
legally separate from the City, the PPERS is reported as if it were part of the primary City because its
sole purpose is to provide retirement benefits for the City’s police employees. The PPERS is reported as
a pension trust fund.
48
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
BASIS OF PRESENTATION
Government-Wide Statements
The City’s basic financial statements include both government-wide (reporting the City as a whole) and
fund financial statements (reporting the City’s major funds). Both the government-wide and fund
financial statements categorize primary activities as either governmental or business-type. The City’s
public safety, highway and street maintenance and reconstruction, building code enforcement, public
improvements, economic development, parks and recreation, planning and zoning, and general
administrative services are classified as governmental activities. The City’s sewer and water services are
classified as business-type activities.
In the government-wide Statement of Net Position, both the governmental and business-type activities
columns are: (a) presented on a consolidated basis by column, and (b) reported on a full accrual, economic
resource basis, which recognizes all long-term assets/deferred outflows and receivables as well as long-
term debt/deferred inflows and obligations.
The City’s net position is reported in three parts: net investment in capital assets; restricted; and
unrestricted. The City first utilizes restricted resources to finance qualifying activities.
The government-wide Statement of Activities reports both the gross and net cost of each of the City’s
functions (general government, public safety, highways and streets, etc.) and business-type activities. The
functions are supported by general government revenues (property, sales and use taxes, certain
intergovernmental revenues, fines, permits and charges for services, etc.). The Statement of Activities
reduces gross expenses (including depreciation) by related program revenues, which include 1) changes
to customers or applicants who purchase, use or directly benefit from goods, services or privileges
provided by a given function or segment and 2) grants and contributions that are restricted to meeting the
operational or capital requirements of a particular function or segment.
The net costs (by function or business-type activity) are normally covered by general revenue (property,
sales and use taxes, certain intergovernmental revenues, permits and charges for services, etc.).
This government-wide focus is more on the sustainability of the City as an entity and the change in the
City’s net position resulting from the current year’s activities.
Fund Financial Statements
The financial transactions of the City are reported in individual funds in the fund financial statements.
Each fund is accounted for by providing a separate set of self-balancing accounts that comprise its
assets/deferred outflows, liabilities/deferred inflows, fund equity, revenues and expenditures/expenses.
Funds are organized into three major categories: governmental, proprietary, and fiduciary. The emphasis
in fund financial statements is on the major funds in either the governmental or business-type activities
categories.
49
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
BASIS OF PRESENTATION – Continued
Fund Financial Statements – Continued
Nonmajor funds by category are summarized into a single column. GASB Statement No. 34 sets forth
minimum criteria (percentage of the assets/deferred outflows, liabilities/deferred inflows, revenues or
expenditures/expenses of either fund category or the governmental and enterprise combined) for the
determination of major funds. The City electively added funds, as major funds, which either have debt
outstanding or a specific community focus. The nonmajor funds are combined in a column in the fund
financial statements. A fund is considered major if it is the primary operating fund of the City or meets
the following criteria:
Total assets/deferred outflows, liabilities/deferred inflows, revenues, or
expenditures/expenses of that individual governmental or enterprise fund
are at least 10 percent of the corresponding total for all funds of that
category or type; and
Total assets/deferred outflows, liabilities/deferred inflows, revenues, or
expenditures/expenses of the individual governmental fund or enterprise
fund are at least 5 percent of the corresponding total for all governmental
and enterprise funds combined.
The various funds are reported by generic classification within the financial statements. The following
fund types are used by the City:
Governmental Funds
The focus of the governmental funds’ measurement (in the fund statements) is upon determination of
financial position and changes in financial position (sources, uses, and balances of financial resources)
rather than upon net income. The following is a description of the governmental funds of the City:
General fund is the general operating fund of the City. It is used to account for all financial resources
except those required to be accounted for in another fund. The General Fund is a major fund.
Special revenue funds are used to account for the proceeds of specific revenue sources that are legally
restricted to expenditures for specified purposes. The City maintains nine special revenue funds. The
Library Fund, a major fund, is used to account for the activity relating to the Yorkville Public Library.
The primary revenue source for the Library Fund is property taxes. The Parks and Recreation Fund, also
a major fund, is used to account for the revenues and expenditures associated with Yorkville’s Parks and
Recreation departments. The primary revenue source for the Parks and Recreation Fund is charges for
services.
50
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
BASIS OF PRESENTATION – Continued
Fund Financial Statements – Continued
Governmental Funds – Continued
Debt service funds are used to account for the accumulation of funds for the periodic payment of principal
and interest on general long-term debt. The City maintains one debt service fund.
Capital projects funds are used to account for financial resources to be used for the acquisition or
construction of major capital facilities (other than those financed by business-type/proprietary funds).
The City maintains three capital projects funds. The Citywide Capital Fund, a major fund, is used to
account for financial resources accumulated for maintenance of public infrastructure and to fund new
capital improvements that benefit the public. The Buildings and Grounds Fund, also a major fund, is used
to account for maintenance of existing and construction of new municipal owned buildings.
Proprietary Funds
The focus of proprietary fund measurement is upon determination of operating income, changes in net
position, financial position, and cash flows. The generally accepted accounting principles applicable are
those similar to businesses in the private sector. The following is a description of the proprietary funds
of the City:
Enterprise funds are required to account for operations for which a fee is charged to external users for
goods or services and the activity is (a) financed with debt that is solely secured by a pledge of the net
revenues, (b) has third party requirements that the cost of providing services, including capital costs, be
recovered with fees and charges, or (c) establishes fees and charges based on a pricing policy designed
to recover similar costs. The City maintains two enterprise funds. The Sewer Fund, a major fund, is used
to account for the operation and sewer infrastructure maintenance of the City-owned sewer system, as
well as the construction of new sewer systems within City limits. Revenues are generated through user
maintenance fees. The Water Fund, also a major fund, is used to account for the operation and water
infrastructure maintenance of the City-owned water distribution system, as well as the construction of
new water systems. Revenues are generated through charges based on water consumption and user
maintenance fees.
Fiduciary Funds
Fiduciary funds are used to report assets held in a trustee or custodial capacity by the City for others and
therefore are not available to support City programs. The reporting focus is on net position and changes
in net position and is reported using accounting principles similar to proprietary funds.
51
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
BASIS OF PRESENTATION – Continued
Fund Financial Statements – Continued
Fiduciary Funds – Continued
Pension trust funds are used to account for assets held in a trustee capacity by the City for pension benefit
payments. The Police Pension Fund accounts for the accumulation of resources to pay pension costs.
Resources are contributed by police force members at rates fixed by state statutes and by the government
through an annual property tax levy.
The City’s pension trust fund is presented in the fiduciary fund financial statements. Since by definition
these assets are being held for the benefit of a third party (pension participants, etc.) and cannot be used
to address activities or obligations of the City, these funds are not incorporated into the government-wide
statements.
MEASUREMENT FOCUS AND BASIS OF ACCOUNTING
Measurement focus is a term used to describe “which” transactions are recorded within the various
financial statements. Basis of accounting refers to “when” transactions are recorded regardless of the
measurement focus applied.
Measurement Focus
On the government-wide Statement of Net Position and the Statement of Activities, both governmental
and business-type activities are presented using the economic resources measurement focus as defined
below.
In the fund financial statements, the “current financial resources” measurement focus or the “economic
resources” measurement focus is used as appropriate.
All governmental funds utilize a “current financial resources” measurement focus. Only current financial
assets/deferred outflows and liabilities/deferred inflows are generally included on their balance sheets.
Their operating statements present sources and uses of available spendable financial resources during a
given period. These funds use fund balance as their measure of available spendable financial resources at
the end of the period.
All proprietary and pension trust funds utilize an “economic resources” measurement focus. The
accounting objectives of this measurement focus are the determination of operating income, changes in
net position (or cost recovery), financial position, and cash flows. All assets/deferred outflows and
liabilities/deferred inflows (whether current or noncurrent) associated with their activities are reported.
Proprietary and pension trust fund equity is classified as net position.
52
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
MEASUREMENT FOCUS AND BASIS OF ACCOUNTING – Continued
Basis of Accounting
In the government-wide Statement of Net Position and Statement of Activities, both governmental and
business-type activities are presented using the accrual basis of accounting. Under the accrual basis of
accounting, revenues are recognized when earned and expenses are recorded when the liability/deferred
inflow is incurred or economic asset used. Revenues, expenses, gains, losses, assets/deferred outflows,
and liabilities/deferred inflows resulting from exchange and exchange-like transactions are recognized
when the exchange takes place.
In the fund financial statements, governmental funds are presented on the modified accrual basis of
accounting. Under this modified accrual basis of accounting, revenues are recognized when “measurable
and available.” Measurable means knowing or being able to reasonably estimate the amount. Available
means collectible within the current period or within sixty days after year-end. The City recognizes
property taxes when they become both measurable and available in accordance with GASB Codification
Section P70.
A sixty-day availability is generally used for revenue recognition for all other governmental fund
revenues. Expenditures (including capital outlay) are recorded when the related fund liability is incurred,
except for general obligation bond principal and interest which are recognized when due.
In applying the susceptible to accrual concept under the modified accrual basis, those revenues
susceptible to accrual are property taxes, state and utility taxes, franchise taxes, interest revenue, charges
for services, and fines and forfeits. All other revenues are not susceptible to accrual because generally
they are not measurable until received in cash.
All proprietary and pension trust funds utilize the accrual basis of accounting. Under the accrual basis of
accounting, revenues are recognized when earned and expenses are recorded when the liability is incurred
or economic asset used.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
connection with a proprietary fund’s principal ongoing operations. The principal operating revenues of
the City’s enterprise funds are charges to customers for sales and services. Operating expenses for
enterprise funds include the cost of sales and services, administrative expenses, and depreciation on
capital assets. All revenues and expenses not meeting this definition are reported as nonoperating
revenues and expenses.
53
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
ASSETS/DEFERRED OUTFLOWS, LIABILITIES/DEFERRED INFLOWS, AND NET
POSITION OR EQUITY
Cash and Investments
Cash and cash equivalents on the Statement of Net Position are considered to be cash on hand, demand
deposits, and cash with fiscal agent. For the purpose of the proprietary funds “Statement of Cash Flows,”
cash and cash equivalents are considered to be cash on hand, demand deposits, cash with fiscal agent,
and all highly liquid investments with an original maturity of three months or less.
Investments are generally reported at fair value. Short-term investments are reported at cost, which
approximates fair value. For investments, the City categorizes its fair value measurements within the fair
value hierarchy established by generally accepted accounting principles. The hierarchy is based on the
valuation inputs used to measure the fair value of the asset. Level 1 inputs are quoted prices in active
markets for identical assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are
significant unobservable inputs.
Interfund Receivables, Payables and Activity
Interfund activity is reported as loans, services provided, reimbursements or transfers. Loans are reported
as interfund receivables and payables as appropriate and are subject to elimination upon consolidation.
All other interfund transactions are treated as transfers. Any residual balances outstanding between the
governmental activities and business-type activities are reported in the government-wide financial
statements as “internal balances.”
Receivables
In the government-wide financial statements, receivables consist of all revenues earned at year-end and
not yet received. Major receivables balances for governmental activities include property taxes, state and
utility taxes, franchise taxes, and grants. Business-type activities report utility charges as their major
receivables.
Assets Held for Others
In June of 2004, the City entered into an intergovernmental agreement with Yorkville-Bristol Sanitary
District for design and construction of the Rob Roy Creek Interceptor. At the date of completion, the
Yorkville-Bristol Sanitary District owns and maintains the Interceptor. All costs associated with the
construction of the infrastructure asset are recorded as Assets Held for Others in the City’s financial
statements. As of April 30, 2022, the balance of this project was $11,091,000 reported in the Sewer Fund.
In connection with this project, the City issued General Obligation Alternate Revenue Source Bonds of
2005D in the fiscal year 2006 for $11,300,000, which were refunded in 2008, 2011 and again in 2021. At
April 30, 2022, the outstanding balance of the 2022 refunding bonds is $5,170,000. See Note 3 for more
information on this long-term debt issue.
54
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
ASSETS/DEFERRED OUTFLOWS, LIABILITIES/DEFERRED INFLOWS, AND NET
POSITION OR EQUITY – Continued
Prepaids
Prepaids are valued at cost, which approximates market. The cost of governmental fund-type prepaids
are recorded as expenditures when consumed rather than when purchased. Certain payments to vendors
reflect costs applicable to future accounting periods and are recorded as prepaids in both the government-
wide and fund financial statements.
Deferred Outflows/Inflows of Resources
Deferred outflow/inflow of resources represents a consumption/acquisition of net assets that applies to a
future period and therefore will not be recognized as an outflow of resources (expense)/inflow of
resources (revenue) until that future time.
Capital Assets
Capital assets purchased or acquired with an original cost of $5,000 to $75,000, depending on asset class,
(see chart on the following page) or more are reported at historical cost or estimated historical cost.
Contributed assets are reported at acquisition value as of the date received. Additions, improvements and
other capital outlays that significantly extend the useful life of an asset are capitalized. Other costs
incurred for repairs and maintenance are expensed as incurred.
The accounting and financial reporting treatment applied to a fund is determined by its measurement
focus. General capital assets are long-lived assets of the City as a whole. Infrastructure such as streets,
traffic signals and signs are capitalized. In the case of the initial capitalization of general infrastructure
assets (i.e., those reported by the governmental activities) the government chose to include all such items
regardless of their acquisition date. The valuation basis for general capital assets are historical cost, or
where historical cost is not available, estimated historical cost based on replacement costs.
Capital assets in the proprietary funds are capitalized in the fund in which they are utilized. The valuation
bases for proprietary fund capital assets are the same as those used for the general capital assets. Donated
capital assets are capitalized at acquisition value on the date donated.
Depreciation on all assets is computed and recorded using the straight-line method of depreciation over
the following estimated useful lives:
55
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
ASSETS/DEFERRED OUTFLOWS, LIABILITIES/DEFERRED INFLOWS, AND NET
POSITION OR EQUITY – Continued
Capital Assets – Continued
Estimated
Useful
Capital Asset Life
Land $ 25,000 N/A
Buildings 35,000 10 - 50 Years
Equipment 5,000 5 - 75 Years
Vehicles 5,000 5 - 15 Years
Infrastructure - Street and Storm Sewer 50,000 10 - 75 Years
Infrastructure - Water and Sewer 75,000 10 - 75 Years
Capitalized
Threshold
Compensated Absences
The City accrues accumulated unpaid vacation and associated employee-related costs when earned (or
estimated to be earned) by the employee. In accordance with GASB Statement No. 16, no liability is
recorded for nonvesting accumulation rights to receive sick pay benefits. However, a liability is
recognized for that portion of accumulated sick leave that is estimated to be taken as “terminal leave”
prior to retirement. All vacation pay is accrued when incurred in the government-wide and proprietary
fund financial statements. A liability for these amounts is reported in the governmental funds only if they
have matured, for example, as a result of employee resignations and retirements.
Long-Term Obligations
In the government-wide financial statements, and proprietary fund types in the fund financial statements,
long-term debt and other long-term obligations are reported as liabilities in the applicable governmental
activities, business-type activities, or proprietary fund type Statement of Net Position. Bond premiums
and discounts are deferred and amortized over the life of the bonds using the effective interest method.
Bonds payable are reported net of the applicable bond premium or discount. Bond issuance costs are
reported as expenses at the time of issuance.
In the fund financial statements, governmental fund types recognize bond premiums and discounts, as
well as bond issuance costs, during the current period. The face amount of debt issued is reported as other
financing sources. Premiums received on debt issuances are reported as other financing sources while
discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld
from the actual debt proceeds received, are reported as debt service expenditures.
56
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued
ASSETS/DEFERRED OUTFLOWS, LIABILITIES/DEFERRED INFLOWS, AND NET
POSITION OR EQUITY – Continued
Net Position
In the government-wide financial statements, equity is classified as net position and displayed in three
components:
Net Investment in Capital Assets – Consists of capital assets including
restricted capital assets, net of accumulated depreciation and reduced by the
outstanding balances of any bonds, mortgages, notes or other borrowings
that are attributable to the acquisition, construction, or improvement of
those assets.
Restricted – Consists of net position with constraints placed on the use
either by (1) external groups such as creditors, grantors, contributors, or
laws or regulations of other governments; or (2) law through constitutional
provisions or enabling legislations.
Unrestricted – All other net position balances that do not meet the definition
of “restricted” or “net investment in capital assets.”
NOTE 2 – STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
BUDGETARY INFORMATION
Budgets are adopted on a basis consistent with generally accepted accounting principles. Annual budgets
are adopted for all funds. All annual appropriations lapse at fiscal year-end. During the year, several
supplementary appropriations were necessary. The City follows these procedures in establishing the
budgetary data reflected in the financial statements:
• Prior to May 1, the Mayor submits to the City Council the proposed budget for the fiscal year
commencing the following May 1. The operating budget includes proposed expenditures and the
means of financing them.
• Public hearings are conducted at the City offices to obtain taxpayer comments.
• Prior to May 1, the budget is legally adopted by a vote of the City Council through passage of an
ordinance.
• The budget officer is authorized to transfer budgeted amounts between departments within any
fund; however, any revisions that alter the total expenditures of any fund must be approved by
the City Council.
57
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 2 – STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY – Continued
DEFICIT FUND BALANCE
The following funds had deficit fund balance as of the date of this report:
Fund
Countryside TIF $ 1,182,815
Downtown TIF 1,639,928
Downtown TIF II 6,625
Deficit
NOTE 3 – DETAIL NOTES ON ALL FUNDS
DEPOSITS AND INVESTMENTS
The City maintains a cash and investment pool that is available for use by all funds except the pension
trust fund. Each fund type's portion of this pool is displayed on the financial statements as "cash and
investments.” In addition, investments are separately held by several of the City's funds. The deposits and
investments of the pension trust fund are held separately from those of other funds.
Permitted Deposits and Investments – Statutes authorize the City to make deposits/invest in commercial
banks, savings and loan institutions, obligations of the U.S. Treasury and U.S. Agencies, obligations of
States and their political subdivisions, credit union shares, repurchase agreements, commercial paper
rated within the three highest classifications by at least two standard rating services, the Illinois Funds,
the Illinois Trust, and the Illinois Public Reserves Investment Management Trust.
The deposits and investments of the Pension Fund are held separately from those of other City funds.
Statutes authorize the Pension Fund to make deposits/invest in interest bearing direct obligations of the
United States of America; obligations that are fully guaranteed or insured as to the payment of principal
and interest by the United States of America; bonds, notes, debentures, or similar obligations of agencies
of the United States of America; savings accounts or certificates of deposit issued by banks or savings and
loan associations chartered by the United States of America or by the State of Illinois, to the extent that the
deposits are insured by the agencies or instrumentalities of the federal government; credit unions, to the
extent that the deposits are insured by the agencies or instrumentalities of the federal government; State of
Illinois bonds; pooled accounts managed by the Illinois Funds Market Fund (Formerly known as IPTIP,
Illinois Public Treasurer’s Investment Pool), or by banks, their subsidiaries or holding companies, in
accordance with the laws of the State of Illinois; bonds or tax anticipation warrants of any county, township,
or municipal corporation of the State of Illinois; direct obligations of the State of Israel; money market
mutual funds managed by investment companies that are registered under the Federal Investment Company
58
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 3 – DETAIL NOTES ON ALL FUNDS
DEPOSITS AND INVESTMENTS
Act of 1940 and the Illinois Securities Law of 1953 and are diversified, open-ended management
investment companies, provided the portfolio is limited to specified restrictions; general accounts of life
insurance companies; and separate accounts of life insurance companies and mutual funds, the mutual
funds must meet specific restrictions, provided the investment in separate accounts and mutual funds does
not exceed ten percent of the Pension Fund’s plan net position; and corporate bonds managed through an
investment advisor, rated as investment grade by one of the two largest rating services at the time of
purchase. Pension Funds with plan net position of $2.5 million or more may invest up to forty-five percent
of plan net position in separate accounts of life insurance companies and mutual funds. Pension Funds
with plan net position of at least $5 million that have appointed an investment advisor, may through that
investment advisor invest up to forty-five percent of the plan net position in common and preferred stocks
that meet specific restrictions. In addition, pension funds with plan net position of at least $10 million
that have appointed an investment advisor, may invest up to sixty-five percent of its net position in
common and preferred stocks and mutual funds that meet specific restrictions effective July 1, 2012.
The Illinois Funds is an investment pool managed by the Illinois Public Treasurer’s Office which allows
governments within the State to pool their funds for investment purposes. The Illinois Funds is not
registered with the SEC as an investment company. Investments in Illinois Funds are valued at the share
price, the price for which the investment could be sold.
The Illinois Trust was established for the purpose of allowing various public agencies including, but not
limited to, counties, townships, cities, towns, villages, school districts, housing authorities and public
water supply districts, to jointly invest funds in accordance with the Laws of the State of Illinois.
Participation in the Illinois Trust is voluntary. The Illinois Trust is not registered with the SEC as an
Investment Company. Investments in the Illinois Trust are valued at the share price, the price for which
the investment could be sold.
The Illinois Public Reserves Investment Management Trust (IPRIME) is an investment opportunity and
cash management service for Illinois Municipal Treasurers acting on behalf of counties, townships, cities,
towns, villages, special road districts, public water supply districts, fire protection districts, drainage
districts, levee districts, sewer districts, housing authorities, and all other political corporations or
subdivisions of the State of Illinois. Participation in IPRIME is voluntary. IPRIME is not registered with
the SEC as an Investment Company. Investments in IPRIME are valued at the share price, the price for
which the investment could be sold.
City Interest Rate Risk, Credit Risk, Custodial Credit Risk and Concentration Risk
Deposits. At year-end, the carrying amount of the City’s deposits for governmental and business-type
activities totaled $21,778,000 and the bank balances totaled $23,303,390.
59
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 3 – DETAIL NOTES ON ALL FUNDS
DEPOSITS AND INVESTMENTS – Continued
City Interest Rate Risk, Credit Risk, Custodial Credit Risk and Concentration Risk – Continued
Investments. The City has the following investment fair values and maturities:
Less Than More Than
Investment Type 1 1 to 5 6 to 10 10
U.S. Treasuries $2,909,596 994,228 1,915,368 - -
Illinois Funds 4,545,768 4,545,768 - - -
Illinois Trust 101,204 101,204 - - -
I-PRIME 814,616 814,616
8,371,184 6,455,816 1,915,368 - -
Investment Maturities (in Years)
Fair
Value
At year-end, the City has the following recurring fair value measurements:
Quoted
Prices
in Active Significant
Markets for Other Significant
Identical Observable Unobservable
Assets Inputs Inputs
Investments by Fair Value Level (Level 1) (Level 2) (Level 3)
Debt Securities
U.S. Treasuries $ 2,909,596 2,909,596 - -
Investments Measured at the Net Asset Value (NAV)
Illinois Funds 4,545,768
Illinois Trust 101,204
I-PRIME 814,616
Total Investments at the (NAV)5,461,588
Total Investments Measured at Fair Value 8,371,184
Fair Value Measurements Using
Total
Interest Rate Risk. Interest rate risk is the risk that changes in interest rates will adversely affect the fair
value of an investment. The City’s investment policy states that a variety of financial instruments and
maturities, properly balanced, will help to insure liquidity and reduce risk or interest rate volatility and
loss of principal. The policy does not state specific limits in investment maturities as a means of managing
its exposure to fair value losses arising from increasing interest rates.
60
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 3 – DETAIL NOTES ON ALL FUNDS
DEPOSITS AND INVESTMENTS – Continued
City Interest Rate Risk, Credit Risk, Custodial Credit Risk and Concentration Risk – Continued
Credit Risk. Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its
obligations. Investments shall be made with judgment and care, under circumstances then prevailing,
which persons of prudence, discretion and intelligence exercise in management of their own affairs, no
for speculation, but for investment, considering the safety of their capital, as well as the probable income
to be derived. The standard of prudence to be used by investment officials shall be the ‘prudent person’
standard and shall be applied in the context of managing an overall portfolio. At year-end, the City’s
investment in the Illinois Funds, the Illinois Trust, and I-PRIME are rated AAAm by Standard & Poor’s.
Concentration Risk. This is the risk of loss attributed to the magnitude of the City’s investment in a single
issuer. The City’s investment policy states that a variety of financial instruments and maturities, properly
balanced, will help to insure liquidity and reduce risk or interest rate volatility and loss of principal.
Diversifying instruments and maturities will avoid incurring unreasonable risks in the investment
portfolio regarding specific security types, issuers or individual financial institutions. The City shall
diversify to the best of its ability based on the type of funds invested and the cash flow needs of those
funds. The City places no limit on the amount the City may invest in any one issuer. At year-end, the City
does not have any investments over 5 percent of the total cash and investment portfolio (other than
investments issued or explicitly guaranteed by the U.S. government and investments in mutual funds,
external investment pools, and other pooled investments) over 5 percent of the total cash and investment
portfolio.
Custodial Credit Risk. In the case of deposits, this is the risk that in the event of a bank failure, the City’s
deposits may not be returned to it. The City’s investment policy requires that all amounts in excess of
any insurance limits be collateralized by approved securities or surety bonds issued by top-rated insurers,
having a value of at least 110% of the deposits. Collateral is required as security whenever deposits
exceed the insurance limits of the FDIC. Repurchase agreements must also be collateralized in the amount
of 105% of the market value of principal and accrued interest. Collateral shall be held at an independent,
third-party institution in the name of the City. The third-party institution shall comply with all
qualifications and requirements as set forth in the Illinois Complied Statutes 30 ILCS 235/6. At year end,
all deposits are collateralized.
For an investment, this is the risk that in the event of the failure of the counterparty, the City will not be
able to recover the value of its investments or collateral securities that are in the possession of an outside
party. At year-end, the City’s investments in the Illinois Funds, the Illinois Trust, and I-PRIME are not
subject to custodial credit risk.
61
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 3 – DETAIL NOTES ON ALL FUNDS – Continued
DEPOSITS AND INVESTMENTS – Continued
Police Pension Fund Interest Rate Risk, Credit Risk, Custodial Credit Risk and Concentration
Risk
Deposits. At year-end, the carrying amount of the Fund’s deposits totaled $831,635 and the bank balances
totaled $832,857.
Investments. At year-end, the Fund has the following investments and maturities:
Less Than More Than
Investment Type 1 1 to 5 6 to 10 10
U.S. Treasuries $3,506,849 660,976 2,519,943 325,930 -
U.S. Agencies 165,486 155,629 692 - 9,165
Corporate Bonds 946,135 50,428 847,027 48,680 -
4,618,470 867,033 3,367,662 374,610 9,165
Investment Maturities (in Years)
Fair
Value
Investments. At year-end, the Fund has the following recurring fair value measurements:
Quoted
Prices
in Active Significant
Markets for Other Significant
Indentical Observable Unobservable
Assets Inputs Inputs
Investments by Fair Value Level (Level 1) (Level 2) (Level 3)
Debt Securities
U.S. Treasuries $ 3,506,849 3,506,849 - -
U.S. Agencies 165,486 - 165,486 -
Corporate Bonds 946,135 - 946,135 -
Equity Securities
Mutual Funds 5,433,015 5,433,015 - -
Common Stock 3,576,277 3,576,277 - -
Total Investments by Fair Value Level 13,627,762 12,516,141 1,111,621 -
Total
Fair Value Measurements Using
62
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 3 – DETAIL NOTES ON ALL FUNDS – Continued
DEPOSITS AND INVESTMENTS – Continued
Police Pension Fund Interest Rate Risk, Credit Risk, Custodial Credit Risk and Concentration
Risk – Continued
Debt Securities classified in Level 2 of the fair value hierarchy are valued using a matrix pricing
technique. Matrix pricing is used to value securities based on the securities’ relationship to benchmark
quoted prices.
Interest Rate Risk. The Fund’s investment policy states that the investment portfolio shall remain
sufficiently liquid to enable the Fund to meet all operating requirements which may be reasonable
anticipated.
Credit Risk. Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its
obligations. The Fund helps limit its exposure to credit risk by primarily investing in securities issued by
the United States Government and/or its agencies that are implicitly guaranteed by the United States
Government. The Pension Fund’s investment policy establishes criteria for allowable investments; those
criteria follow the requirements of the Illinois Pension Code. The investments in the securities of U.S.
Government Agencies obligations were all rated AA+ by Standard & Poor’s or by Moody’s Investors
Services and Corporate Bonds were rated AA+ to BBB+ by Standard & Poor’s. Besides investing in
securities issued by agencies of the United States Government, the Pension Fund’s investment policy for
reducing credit risk is by the Board conducting its responsibilities with the care, skill and caution under the
circumstances then prevailing which a prudent person acting in a like capacity and familiar with those
matters would use the conduct of an activity of like character or purpose.
Custodial Credit Risk. The Fund’s investment policy requires all deposits in excess of federally insured
limits (other than bank managed money market mutual funds) to be no less than 110% of the fair market
value and secured by some form of collateral. The Fund will accept (1) United States Treasury Bills,
Notes or Bonds, or (2) United States Government Agency Notes or Bonds as authorized by the Public
Funds Investment Act but excluding the government sponsored agencies prohibited by the Department
of Insurance. At year-end, the entire amount of the bank balance of deposits was covered by collateral,
federal depository or equivalent insurance.
Concentration Risk. This is the risk of loss attributed to the magnitude of the Pension Fund’s investment in
a single issuer. The Funds investment policy states the Board should diversify investments to avoid
incurring unreasonable risks from the practice of concentrating investments in specific security types and/or
individual financial institutions. In addition to the securities and fair values previously listed, the Fund
also has $5,433,015 invested in mutual funds and $3,576,277 invested in common stocks. At year-end,
the Fund has over 5 percent of net plan assets available for retirement benefits (other than investments
issued or explicitly guaranteed by the U.S. government and investments in mutual funds, external
investment pools, and other pooled investments) invested in DWS RREEF Global Real Estate Securities
Fund of $725,634.
63
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 3 – DETAIL NOTES ON ALL FUNDS – Continued
DEPOSITS AND INVESTMENTS – Continued
Police Pension Fund Interest Rate Risk, Credit Risk, Custodial Credit Risk and Concentration
Risk – Continued
The Fund’s investment policy in accordance with Illinois Compiled Statutes (ILCS) establishes the
following target allocation across asset classes:
Long-Term
Expected Real
Asset Class Target Rate of Return
Fixed Income 55.00%7.50%
Equities 44.00% 11.80%
Cash and Cash Equivalents 1.00%4.20%
Illinois Compiled Statutes (ILCS) limit the Fund’s investments in equities, mutual funds and variable
annuities to 65%. Securities in any one company should not exceed 5% of the total fund.
The long-term expected rate of return on the Fund’s investments was determined using an asset allocation
study conducted by the Fund’s investment management consultant in May 2022 in which best-estimate
ranges of expected future real rates of return (net of pension plan investment expense and inflation) were
developed for each major asset class. These ranges were combined to produce the long-term expected
rate of return by weighting the expected future real rates of return by the target asset allocation percentage
and by adding the expected inflation. Best estimates or arithmetic real rates of return for each major asset
class included in the Fund’s target asset allocation as of April 30, 2022 are listed in the table on previous
page.
For the year ended April 30, 2022, the annual money-weighted rate of return on pension plan investments,
net of pension plan investment expense, was (4.76%). The money-weighted rate of return expresses
investment performance, net of investment expense, adjusted for the changing amounts actually invested.
PROPERTY TAXES
Property taxes for 2021 attach as an enforceable lien on January 1, 2022, on property values assessed as
of the same date. Taxes are levied by December of the subsequent fiscal year (by passage of a Tax Levy
Ordinance). Tax bills are prepared by the County and are payable in two installments, on or about June 1
and September 1. The County collects such taxes and remits them periodically.
64
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 3 – DETAIL NOTES ON ALL FUNDS – Continued
CAPITAL ASSETS
Governmental Activities
Governmental capital asset activity for the year was as follows:
Ending
Increases Decreases Balances
Nondepreciable Capital Assets
Land $ 31,247,764 - - 31,247,764
Construction in Progress 3,350,036 6,691,123 2,211,321 7,829,838
34,597,800 6,691,123 2,211,321 39,077,602
Depreciable Capital Assets
Buildings 15,690,311 - - 15,690,311
Equipment 9,187,313 218,709 40,857 9,365,165
Vehicles 3,170,064 377,757 171,804 3,376,017
Infrastructure 78,494,697 2,833,094 - 81,327,791
106,542,385 3,429,560 212,661 109,759,284
Less Accumulated Depreciation
Buildings 5,077,023 323,619 - 5,400,642
Equipment 7,025,323 162,393 40,857 7,146,859
Vehicles 2,517,147 237,004 171,804 2,582,347
Infrastructure 26,047,470 2,190,643 - 28,238,113
40,666,963 2,913,659 212,661 43,367,961
Total Net Depreciable Capital Assets 65,875,422 515,901 - 66,391,323
Total Net Capital Assets 100,473,222 7,207,024 2,211,321 105,468,925
Beginning
Balances
Depreciation expense was charged to governmental activities as follows:
General Government $ 115,579
Library 182,235
Parks and Recreation 137,871
Public Safety 125,759
Public Works 2,352,215
2,913,659
65
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 3 – DETAIL NOTES ON ALL FUNDS – Continued
CAPITAL ASSETS – Continued
Business-Type Activities
Business-type capital asset activity for the year was as follows:
Ending
Increases Decreases Balances
Nondepreciable Capital Assets
Land $ 615,376 - - 615,376
Construction in Progress 2,973,283 1,260,744 - 4,234,027
3,588,659 1,260,744 - 4,849,403
Depreciable Capital Assets
Equipment 19,166,497 43,783 - 19,210,280
Vehicles 618,559 - - 618,559
Infrastructure 69,792,390 340,549 - 70,132,939
89,577,446 384,332 - 89,961,778
Less Accumulated Depreciation
Equipment 8,175,288 490,204 - 8,665,492
Vehicles 454,822 68,285 - 523,107
Infrastructure 14,353,907 1,285,380 - 15,639,287
22,984,017 1,843,869 - 24,827,886
Total Net Depreciable Capital Assets 66,593,429 (1,459,537)- 65,133,892
Total Net Capital Assets 70,182,088 (198,793)- 69,983,295
Beginning
Balances
Depreciation expense was charged to business-type activities as follows:
Sewer $ 732,083
Water 1,111,786
1,843,869
66
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 3 – DETAIL NOTES ON ALL FUNDS – Continued
INTERFUND RECEIVABLES, PAYABLES AND TRANSFERS
Interfund Balances
Interfund balances are advances in anticipation of receipts to cover temporary cash shortages. The
composition of interfund balances as of the date of this report, is as follows:
Receivable Fund Payable Fund Amount
General Nonmajor Governmental $2,829,423 Interfund Transfers
Interfund transfers for the year consisted of the following:
Transfers In Transfers Out Amount
General Nonmajor Governmental $21,231 (1)
Library General 24,809 (2)
Parks and Recreation General 1,515,511 (2)
Citywide Capital General 1,412,414 (1)
Citywide Capital Buildings and Grounds 2,046,503 (1)
Buildings and Grounds General 3,324,556 (2)
Buildings and Grounds Nonmajor Governmental 384,824 (1)
Sewer General 519,749 (1)
Water Sewer 75,675 (1)
Water Citywide Capital 104,558 (1)
9,429,830
Transfers are used to (1) move revenues from the fund that statute or budget requires to collect them to
the fund that statute or budget requires to expend them and (2) use unrestricted revenues collected in the
General Fund to finance various programs accounted for in other funds in accordance with budgetary
authorizations.
The purpose of significant interfund transfers are as follows:
• $1,515,511 to the Parks and Recreation Fund to subsidize operations.
• $3,458,917 to the Citywide Capital Fund to fund the construction of future roadway projects and
to reimburse the Fund for acquisition costs associated with the new City Hall property.
• $3,324,556 to the Buildings and Grounds Fund to fund current and future City building projects
and acquisitions.
67
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 3 – DETAIL NOTES ON ALL FUNDS – Continued
LONG-TERM DEBT
Other Obligations
Other Obligations currently outstanding are as follows:
Fund Debt Ending
Issue Retired by Issuances Retirements Balances
Governmental
Activities $1,890 - - 1,890
Balances
Beginning
Conover Sewer Recapture owed to
John Conover as reimbursement for
sewer extension, due in one lump
sum payment of $1,890 in fiscal year
2023.
Notes Payable
The City enters into notes payable to provide funds for acquisition of capital assets. Notes payable have
been issued for the governmental activities. Notes payable are direct obligations and pledge the full faith
and credit of the City. Notes payable currently outstanding are as follows:
Fund Debt Ending
Issue Retired by Issuances Retirements Balances
Downtown
TIF $ 200,000 - 200,000 -
Vehicle &
Equipment 473,426 - 55,204 418,222
673,426 - 255,204 418,222
Beginning
Balances
102 E Van Emmon Building Loan
Payable of 2017, payable in annual
installments equal to one-fourth of
the amount borrowed which includes
an annualized interet rate of 3.00%
through June 1, 2021.
Promissory Note of 2019, payable in
monthly installments of $71,570,
which includes interest at 3.60%,
through November 18, 2028.
68
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 3 – DETAIL NOTES ON ALL FUNDS – Continued
LONG-TERM DEBT – Continued
Illinois Environmental Protection Agency (IEPA) Loans Payable
The City has entered into loan agreements with the IEPA to provide low interest financing for sewer and
water improvements. IEPA loans currently outstanding are as follows:
Fund Debt Ending
Issue Retired by Issuances Retirements Balances
Water $ 638,766 - 109,742 529,024
IEPA (L17-1156300)Loan Payable
of 2007, due in semi-annual
installments of $28,263 to $61,744
including interest at 2.50% through
August 9, 2026.
Beginning
Balances
General Obligation Bonds
The City issues general obligation bonds to provide funds for the acquisition and construction of major
capital facilities. General obligation bonds have been issued for both governmental and business-type
activities. General obligation bonds issued for business-type activities are reported in the proprietary
funds as they are expected to be repaid from proprietary revenues. General obligation bonds are direct
obligations and pledge the full faith and credit of the City.
General obligation bonds currently outstanding are as follows:
Fund Debt Ending
Issue Retired by Issuances Retirements Balances
Library $ 350,000 - 75,000 275,000
General Obligation Library Bonds of
2006, due in annual installments of
$50,000 to $100,000 plus interest at
4.75%to 4.80% through December
30, 2024.
Beginning
Balances
69
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 3 – DETAIL NOTES ON ALL FUNDS – Continued
LONG-TERM DEBT – Continued
General Obligation Bonds – Continued
Fund Debt Ending
Issue Retired by Issuances Retirements Balances
4,105,000 *
Sewer $ 5,025,000 - 920,000 -
Library 2,750,000 - 645,000 2,105,000
Countryside
TIF 1,235,000 - - 1,235,000
Citywide
Capital 3,200,000 - 200,000 3,000,000
Debt
Service 630,000 - 310,000 320,000
General Obligation Refunding
Alternate Revenue Source Bonds of
2011, due in annual installments of
$660,000 to $1,100,000 plus interest
at 4.28% through December 30,
2025.
General Obligation Refunding
Alternate Revenue Source Bonds of
2014, due in annual installments of
$230,000 to $270,000 plus interest at
4.00%to 4.30% through December
1, 2029.
General Obligation Alternate
Revenue Source Bonds of 2014A,
due in annual installments of
$135,000 to $300,000 plus interest at
3.00%to 4.00% through December
1, 2033.
General Obligation Refunding
Alternate Revenue Source Bonds of
2014B, due in annual installments of
$255,000 to $320,000 plus interest at
2.00%to 3.00% through December
30, 2022.
General Obligation Library
Refunding Bonds of 2013, due in
annual installments of $155,000 to
$730,000 plus interest at 2.00%to
4.00% through December 30, 2024.
Beginning
Balances
*Refunded
70
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 3 – DETAIL NOTES ON ALL FUNDS – Continued
LONG-TERM DEBT – Continued
General Obligation Bonds – Continued
Fund Debt Ending
Issue Retired by Issuances Retirements Balances
Water $ 545,000 - 135,000 410,000
Countryside
TIF 1,153,522 - 112,455 1,041,067
Water 3,206,478 - 312,545 2,893,933
Water 1,955,000 - 1,040,000 915,000
Building and
Grounds - 8,250,000 - 8,250,000
Building and
Grounds - 1,010,000 - 1,010,000
Sewer - 4,160,000 - 4,160,000
20,050,000 13,420,000 7,855,000 25,615,000
General Obligation Alternate
Revenue Source Bonds of 2015A,
due in annual installments of
$100,000 to $475,000 plus interest at
4.00% through December 1, 2034.
General Obligation Refunding
Alternate Revenue Source Bonds of
2014C, due in annual installments of
$120,000 to $140,000 plus interest at
2.00%to 3.00% through December
30, 2024.
General Obligation Refunding
Alternate Revenue Source Bonds of
2016, due in annual installments of
$430,000 to $1,475,000 plus interest
at 4.00%to 4.25% through
December 30, 2022.
General Obligation Alternate
Revenue Source Bonds of 2021, due
in annual installments of $320,000 to
$530,000 plus interest at 2.00%to
4.00% through December 1, 2040.
General Obligation Refunding
Alternate Revenue Source Bonds of
2022, due in annual installments of
$1,270,000 to $1,320,000 plus
interest at 1.142% through December
1, 2025.
Beginning
Balances
71
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 3 – DETAIL NOTES ON ALL FUNDS – Continued
LONG-TERM DEBT – Continued
General Obligation Bonds – Continued
Ending
Activity Issuances Retirements Balances
Governmental $9,318,522 9,260,000 1,342,455 17,236,067
Business-Type 10,731,478 4,160,000 6,512,545 8,378,933
20,050,000 13,420,000 7,855,000 25,615,000
Beginning
Balances
Debt Certificates
The City issues debt certificates to provide funds for the acquisition and construction of major capital
facilities. Debt certificates have been issued for both governmental and business-type activities. Debt
Certificates issued for business-type activities are reported in the proprietary funds as they are expected
to be repaid from proprietary revenues. Debt certificates currently outstanding are as follows:
Fund Debt Ending
Issue Retired by Issuances Retirements Balances
Sewer $305,000 - 150,000 155,000
Beginning
Balances
Illinois Rural Bond Bank Debt
Certificates of 2003A, due in annual
installments of $80,000 to $155,000
plus interest at 1.60%to 5.20%
through February 1, 2023.
Asset Retirement Obligation
The City has recognized an asset retirement obligation (ARO) and related deferred outflow of resources
in connection with its obligation to seal and abandon various water wells and for the demolition of the
City’s underground storage tanks at the end of their estimated useful lives in accordance with federal,
state, and/or local requirements. The ARO was measured using actual historical costs for similar
abandonments, adjusted for inflation through the end of the year. The estimated remaining useful lives of
the water wells and underground storage ranges between 49 and 84 years.
72
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 3 – DETAIL NOTES ON ALL FUNDS – Continued
LONG-TERM DEBT – Continued
Long-Term Liability Activity
Changes in long-term liabilities during the fiscal year were as follows:
Amounts
Ending Due within
Additions Deductions Balances One Year
Governmental Activities
Compensated Absences $ 683,943 15,130 7,565 691,508 138,302
Net Pension Liability - Police Pension 10,450,027 2,108,609 - 12,558,636 -
Total OPEB Liability - RBP 1,069,813 - 110,648 959,165 -
Other Obligations 1,890 - - 1,890 -
Notes Payable 673,426 - 255,204 418,222 57,253
General Obligation Bonds 9,318,522 9,260,000 1,342,455 17,236,067 1,966,424
Plus: Unamortized Premium 88,036 525,011 67,984 545,063 -
22,285,657 11,908,750 1,783,856 32,410,551 2,161,979
Business-Type Activities
Compensated Absences $ 114,633 17,464 8,732 123,365 54,716
Total OPEB Liability - RBP 161,667 - 18,345 143,322 -
IEPA Loans Payable 638,766 - 109,742 529,024 112,503
General Obligation Bonds 10,731,478 4,160,000 6,512,545 8,378,933 2,393,576
Plus: Unamortized Premium 109,633 - 33,401 76,232 -
Debt Certificates 305,000 - 150,000 155,000 155,000
Developer Agreements 2,386,097 119,305 - 2,505,402 -
Asset Retirement Obligation 2,783,000 - - 2,783,000 -
17,230,274 4,296,769 6,832,765 14,694,278 2,715,795
Beginning
Type of Debt Balances
For the governmental activities, the compensated absences, the net pension liabilities, and the total OPEB
liability are generally liquidated by the General Fund. The Vehicle and Equipment Funds make payment
on the notes payable. General obligation bonds are being liquidated by the Library, Countryside TIF,
Citywide Capital, Buildings and Grounds, and Debt Service Funds.
For the business-type activities, the Sewer and Water Funds liquidate compensated absences, the net
pension liability, and the total OPEB liability. The Sewer and Water Funds are making payments on the
IEPA loans payable, general obligation bonds, debt certificates and developer agreements.
73
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 3 – DETAIL NOTES ON ALL FUNDS – Continued
LONG-TERM DEBT – Continued
Non-Commitment Debt
Special service area bonds outstanding as of the date of this report totaled $51,491,968, Kendall
Marketplace business district bonds totaled $6,665,000 and Kendall Marketplace sales tax bonds totaled
$5,165,000. These bonds are not an obligation of the government and are secured by the levy of an annual
tax on the real property within the special service area, business district taxes, and sales taxes,
respectively. The government is in no way liable for repayment but is only acting as agent for the property
owners in levying/assessing and collecting the tax, and forwarding the collections to bondholders.
Debt Service Requirements to Maturity
The annual debt service requirements to maturity, including principal and interest, are as follows:
Interest Interest
$ 57,253 14,317 1,966,424 543,854
59,347 12,223 1,711,716 477,272
61,581 9,989 1,775,685 417,298
63,867 7,703 1,126,889 354,959
66,237 5,333 898,212 319,421
68,691 2,879 940,858 285,506
41,246 504 973,504 247,750
- - 1,021,150 208,427
- - 778,796 166,771
- - 796,442 144,319
- - 819,088 121,361
- - 841,734 97,697
- - 555,569 73,328
- - 480,000 60,600
- - 490,000 51,000
- - 500,000 41,200
- - 510,000 31,200
- - 520,000 21,000
- - 530,000 10,600
Total 418,222 52,948 17,236,067 3,673,563
2033
2034
2035
Year
2030
2029
2031
2028
2032
2023
2024
2025
2026
2027
General Obligation
Bonds
Principal
Notes
Payable
Principal
Governmental Activities
Fiscal
2036
2037
2038
2039
2041
2040
74
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 3 – DETAIL NOTES ON ALL FUNDS – Continued
LONG-TERM DEBT – Continued
Debt Service Requirements to Maturity – Continued
Interest Interest Interest
$ 112,503 12,527 2,393,576 202,218 155,000 8,060
115,333 9,697 1,508,284 146,918 - -
118,235 6,795 1,529,315 117,424 - -
121,209 3,821 1,223,111 87,467 - -
61,744 772 161,788 68,981 - -
- - 169,142 62,509 - -
- - 176,496 55,743 - -
- - 183,850 48,683 - -
- - 191,204 41,329 - -
- - 198,558 33,681 - -
- - 205,912 25,739 - -
- - 213,266 17,503 - -
- - 224,431 8,972 - -
Total 529,024 33,612 8,378,933 917,167 155,000 8,060
2034
2035
2029
2030
2031
2032
2033
2028
2023
2024
2025
2026
2027
Year Principal Principal Principal
IEPA General Obligation Debt
Loan Payable Bonds CertificatesFiscal
Business-Type Activities
Legal Debt Margin
Chapter 65, Section 5/8-5-1 of the Illinois Compiled Statutes provides, “…no municipality having a
population of less than 500,000 shall become indebted in any manner or for any purpose, to an amount,
including existing indebtedness in the aggregate exceeding 8.625% on the value of the taxable property
therein, to be ascertained by the last assessment for state and county purposes, previous to the incurring
of the indebtedness or, until January 1, 1983, if greater, the sum that is produced by multiplying the
municipality’s 1978 equalized assessed valuation by the debt limitation percentage in effect on January
1, 1979.”
Assessed Valuation - 2021 $ 623,597,568
Legal Debt Limit - 8.625% of Assessed Value 53,785,290
Amount of Debt Applicable to Limit
General Obligation Bonds 2,535,000
Legal Debt Margin 51,250,290
75
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 3 – DETAIL NOTES ON ALL FUNDS – Continued
LONG-TERM DEBT – Continued
Defeased Debt
On January 6, 2022, the City issued $4,160,000 par value General Obligation Refunding Alternative
Revenue Source Bonds, Series of 2022 to refund $4,105,000 of the General Obligation Refunding
Alternate Revenue Source Bonds, Series of 2011. The City defeased bonds by placing the proceeds of
the new bonds in an irrevocable trust to provide for all future debt service payment of the old bonds.
Since the requirements that normally satisfy defeasance have been met, the financial statements reflect
satisfaction of the original liability through the irrevocable transfer to an escrow agent of an amount
computed to be adequate to meet the future debt service requirements of the issue. Accordingly, the trust
account assets and the liability for the defeased bonds are not included in the government’s basic financial
statements. Through this refunding, the City reduced its total debt service by $275,353 and obtained an
economic gain of $266,090.
NET POSITION CLASSIFICATIONS
Net investment in capital assets was comprised of the following as of year-end:
Governmental Activities
Capital Assets - Net of Accumulated Depreciation $ 105,468,925
Plus: Unspent Bond Proceeds 6,618,399
Less Capital Related Debt:
Notes Payable of 2019 (418,222)
General Obligation Library Bonds of 2006 (275,000)
General Obligation Library Refunding Bonds of 2013 (2,105,000)
General Obligation Refunding Alternate Revenue Source Bonds of 2014 (1,235,000)
General Obligation Refunding Alternate Revenue Source Bonds of 2014A (3,000,000)
General Obligation Refunding Alternate Revenue Source Bonds of 2014B (320,000)
General Obligation Alternate Revenue Source Bonds of 2015A (1,041,067)
General Obligation Alternate Revenue Source Bonds of 2021 (8,250,000)
General Obligation Refunding Alternate Revenue Source Bonds of 2022 (1,010,000)
Loss on Refunding 43,246
Premium on Debt Issuance (545,063)
Net Investment in Capital Assets 93,931,218
76
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 3 – DETAIL NOTES ON ALL FUNDS – Continued
NET POSITION CLASSIFICATIONS – Continued
Business-Type Activities
Capital Assets - Net of Accumulated Depreciation $ 69,983,295
Less Capital Related Debt:
IEPA (L17-1156300) Loan Payable of 2007 (529,024)
General Obligation Refunding Alternate Revenue Source Bonds of 2014C (410,000)
General Obligation Alternate Revenue Source Bonds of 2015A (2,893,933)
General Obligation Alternate Revenue Source Bonds of 2016 (915,000)
General Obligation Refunding Alternate Revenue Source Bonds of 2022 (4,160,000)
Illinois Rural Bond Bank Debt Certificates of 2003 (155,000)
Loss on Refunding 4,269
Premium on Debt Issuance (76,232)
Net Investment in Capital Assets 60,848,375 FUND BALANCE CLASSIFICATIONS
In the governmental funds’ financial statements, the City considers restricted amounts to have been spent
when an expenditure is incurred for purposes for which both restricted and unrestricted fund balance is
available. The City first utilizes committed, then assigned and then unassigned fund balance when an
expenditure is incurred for purposes for which all three unrestricted fund balances are available.
Nonspendable Fund Balance. Consists of resources that cannot be spent because they are either: a) not
in a spendable form; or b) legally or contractually required to be maintained intact.
Restricted Fund Balance. Consists of resources that are restricted to specific purposes, that is, when
constraints placed on the use of resources are either: a) externally imposed by creditors (such as through
debt covenants), grantors, contributors, or laws or regulations of other governments; or b) imposed by
law through constitutional provisions or enabling legislation.
Committed Fund Balance. Consists of resources constrained (issuance of an ordinance) to specific
purposes by the government itself, using its highest level of decision-making authority, Members of the
City Council; to be reported as committed, amounts cannot be used for any other purpose unless the
government takes the same highest-level action to remove or change the constraint.
Assigned Fund Balance. Consists of amounts that are constrained by Members of the City Council’s
intent to be used for specific purposes but are neither restricted nor committed. Intent is expressed by a)
Members of the City Council itself or b) a body or official to which Members of the City Council has
delegated the authority to assign amounts to be used for specific purposes. The City’s highest level of
decision-making authority is Members of the City Council, who is authorized to assign amounts to a
specific purpose.
77
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 3 – DETAIL NOTES ON ALL FUNDS – Continued
FUND BALANCE CLASSIFICATIONS – Continued
Unassigned Fund Balance. Consists of residual net resources of a fund that has not been restricted,
committed, or assigned within the General Fund and deficit fund balances of other governmental funds.
Minimum Fund Balance Policy. The City’s policy states that the General fund should maintain a
minimum unrestricted fund balance of no less than 30% of the annual appropriations budget.
The following is a schedule of fund balance classifications for the governmental funds as of the date of
this report:
Parks and Citywide Buildings and
Library Recreation Capital Grounds Nonmajor Totals
Fund Balances
Nonspendable
Prepaids $ 162,600 9,869 41,876 - - - 214,345
Restricted
Library Operations - 913,690 - - - - 913,690
Motor Fuel Tax - - - - - 269,412 269,412
Special Service Areas - - - - - 23,962 23,962
Land Cash - - - - - 33,843 33,843
Capital Projects - Bond Proceeds - - - - 6,618,399 - 6,618,399
- 913,690 - - 6,618,399 327,217 7,859,306
Assigned
Capital Projects - - - 2,165,601 3,383,858 1,391,622 6,941,081
Unassigned 10,464,500 - (41,876)- - (2,829,368) 7,593,256
Total Fund Balances 10,627,100 923,559 - 2,165,601 10,002,257 (1,110,529) 22,607,988
General
Special Revenue Capital Projects
NOTE 4 – OTHER INFORMATION
RISK MANAGEMENT
The City is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets;
errors and omissions; natural disasters; and injuries to the City’s employees. The City has purchased
insurance from private insurance companies. Risks covered included certain types of liabilities and bonds.
Premiums have been displayed as expenditures/expenses in appropriate funds. There were no significant
changes in insurance coverages from the prior year and settlements did not exceed insurance coverage in
any of the past three fiscal years.
78
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 4 – OTHER INFORMATION – Continued
CONTINGENT LIABILITIES
Litigation
The City is a defendant in various lawsuits. Although the outcome of these lawsuits is not presently
determinable, in the opinion of the City's attorney, the resolution of these matters will not have a material
adverse effect on the financial condition of the City.
Grants
Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor
agencies, principally the federal government. Any disallowed claims, including amounts already
collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures which
may be disallowed by the grantor cannot be determined at this time although the City expects such
amounts, if any, to be immaterial.
COMMITMENTS
Agreements with Developers – Governmental Activities
Under a Development/Economic Initiative Agreement entered into in March of 2001, the City agreed to
reimburse eligible costs associated with a development located at Route 47 and Route 34. Eligible costs of
$2,074,833 and accrued interest at 5% are to be reimbursed from 50% of the sales tax generated in the
development, limited to a period of eighteen years. Through April 30, 2022, the City has reimbursed
$3,221,659 including $136,750 in the current year. All payments have been recorded as an expenditure of
the General Fund. As of April 30, 2022, the incentive agreement was paid in full.
Under a Development and Annexation Agreement entered into in July of 2000, amended in October of
2001, the City agreed to reimburse eligible costs associated with a development located at Route 47 and
Kennedy Road. Eligible costs of $5,977,027 are to be reimbursed from 50% of the sales tax generated in
the development. Through April 30, 2022, the City has reimbursed $3,694,649, including $308,810 in the
current year. All payments have been recorded as an expenditure of the General Fund.
79
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 4 – OTHER INFORMATION – Continued
COMMITMENTS – Continued
Agreements with Developers – Governmental Activities – Continued
Under an Annexation Agreement entered into in April of 2006, the City agreed to reimburse eligible costs
associated with a development located at Route 47 between Base Line Road and Corneils Road. Eligible
costs are to be reimbursed from 55% of City Admissions Taxes collected, limited to a period of ten years.
Through April 30, 2022, the City has reimbursed $1,530,631, including $148,663 in the current year. All
payments have been recorded as an expenditure of the General Fund. The agreement was amended in April
of 2019 to rebate 100% of admissions tax received by the City from the developer for a period of twenty
years, until September 2026, and the admissions tax rate was decreased from 5% to 2.75%. The 100%
rebate went into effect beginning with the 2013 fiscal year.
Under a Development/Economic Initiative Agreement entered into in January of 2007, the City agreed to
reimburse eligible costs associated with a development located at Route 47 and Corneils Road. Eligible
costs of $287,392 are to be reimbursed from 50% of the sales tax generated in the development, limited to
a period of twenty years. Through April 30, 2022, the City has reimbursed $23,404, including $0 in the
current year. All payments have been recorded as an expenditure of the General Fund.
Under a Development Agreement entered into in June of 2007, the City agreed to create a business district
in the area around Route 34 and Cannonball Trail. Under the agreement, 50% of sales tax and 100% of the
business district tax generated in the district are remitted by the City to an escrow agent to pay the debt
service on the Special Service Area Revenue Bonds of 2007. The bonds are secured solely by the pledged
revenues and are not obligations of the City and are therefore not recorded on the City’s books. All payments
have been recorded as an expenditure of the General Fund. Expenditures in the current year were $691,180
for sales taxes and $435,946 in business district taxes.
In February of 2011, the City amended a Development/Economic Initiative Agreement dated April 2007.
Under the original agreement, the City agreed to reimburse 20% of eligible costs associated with a
development located at Route 47 and Fountainview Drive from 50% of the sales tax generated in the
development, limited to a period of twenty years. Under the amended agreement, the City will hold the
sales tax rebates in an escrow account until certain land improvements has been completed. Through April
30, 2022, the City is holding $25,258 in escrow, including $2,467 in the current year. All payments have
been recorded as an expenditure of the General Fund.
Under a Development/Economic Initiative Agreement entered into on December 22, 2011 the City agreed
to reimburse eligible costs associated with a development located west of Route 47 and north of Cannonball
Trail on Boombah Boulevard. Through April 30, 2022, the City has reimbursed $93,383, including $9,531
in the current year. All payments have been recorded as an expenditure of the General Fund. As of April
30, 2022 the inventive agreement was paid in full.
80
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 4 – OTHER INFORMATION – Continued
COMMITMENTS – Continued
Agreements with Developers – Governmental Activities – Continued
Under development agreements entered into in April 2012, the City agreed to reimburse eligible costs
associated with a development located at within the Downtown TIF district. Eligible costs are to be
reimbursed from 85% of the incremental property tax and 100% of the business district tax generated in
the development, through December 31, 2029. Through April 30, 2022, the City has reimbursed $198,541
in incremental property taxes and $214,117 in business district taxes. Incremental property tax payments
have been recorded as an expenditure of the Downtown TIF Fund and the Business District Tax Rebates
have been recorded as an expenditure of the General Fund.
Under a development agreement entered into in May 2013, the City agreed to reimburse eligible costs
associated with a development located at Route 34 and Route 47 in the Countryside TIF district. Eligible
costs are to be reimbursed from 50% of the amusement tax and 100% of the business district tax generated
in the development, limited to a period of 10 years. Through April 30, 2022, the City has reimbursed
$327,175 in amusement taxes and $94,044 in business district taxes. For the current year, amusement tax
rebate expenditures of $25,564 and business district rebate expenditures of $56,211 were recorded in the
General Fund.
Under a Development/Economic Initiative Agreement entered into in March of 2016, the City agreed to
reimburse eligible costs associated with a development located within the Fountainview Subdivision.
Eligible costs of $63,350 are to be reimbursed from 50% of the sales tax generated in the development,
limited to a period of ten years. Through April 30, 2022, the City has reimbursed $22,526, including
$6,730 in the current year. All payments have been recorded as an expenditure of the General Fund.
Under a Development/Economic Initiative Agreement entered into in April of 2019, the City agreed to
accept all previously constructed public improvements and complete all remaining infrastructure
improvements in the Raintree Subdivision Special Service Area, as stipulated in the agreement. The
Developer has acquired certain vacant lots within the Raintree Subdivision, and has further agreed to pay
certain impact fees and other contributions towards the City at agreed upon timeframes and complete
construction on certain dwelling units. As of April 30, 2022, the City has incurred $93,014 in
expenditures, which have been fully reimbursed by the developer.
Under a development agreement entered into in August 2019, the City agreed to reimburse eligible costs
associated with the renovation of the historic Kendall County jail. Eligible costs are to be reimbursed from
incremental property taxes through 2034. Through April 30, 2022, the City has reimbursed $137,784 in
renovation costs, which are recorded as an expenditure of the Downtown TIF II Fund.
81
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 4 – OTHER INFORMATION – Continued
COMMITMENTS – Continued
Agreements with Developers – Business-Type Activities
Under a reimbursement agreement entered into in August of 2003, the City and the developer of the Fox
Hill subdivision agreed to reimburse eligible costs associated with the construction and over-sizing of water
and sewer infrastructure lines within the area. Eligible costs are to be paid to the developer within twenty
years of the agreement. This agreement was amended in April 2006 to include additional costs. Total
eligible costs were $807,847, which accrues compounded interest of 5% annually. Interest for a portion of
eligible costs was computed back to January 1, 1995. Total interest to date is $1,458,945. The amount
recorded as a liability, including interest, as of April 30, 2022 is $2,505,402. Of this amount, 52% is
recorded in the Water Fund. The remaining 48% of this amount is recorded in the Sewer Fund.
Hotel/Motel Tax Rebates
All hotels and motels located within the City limits are required to pay a tax of 3% based on the gross
rental receipts from the renting, leasing or letting of a hotel or motel room. Proceeds from the hotel/motel
tax are remitted to the Aurora Area Convention & Visitors Bureau (AACVB) for the purposes of
promoting tourism and conventions within Yorkville, pursuant to State Statute. The City has recorded
$124,574 in rebates in the General Fund for the fiscal year ended April 30, 2022.
EMPLOYEE RETIREMENT SYSTEM – DEFINED BENEFIT PENSION PLANS
The City contributes to two defined benefit pension plans, the Illinois Municipal Retirement Fund, a
defined benefit agent multiple-employer public employee retirement system and the Police Pension Plan
which is a single-employer pension plan. A separate report is issued for the Police Pension Plan and may
be obtained by writing to the City at 804 Game Farm Road, Yorkville, Illinois 60560. IMRF does issue
a publicly available financial report that includes financial statements and required supplementary
information for the plan as a whole, but not by individual employer. That report may be obtained on-line
at www.imrf.org. The benefit, benefit levels, employee contributions, and employer contributions are
governed by Illinois Compiled Statutes (ILCS) and can only be amended by the Illinois General
Assembly.
The aggregate amounts recognized for the two pension plans is:
Pension
Deferred Deferred Expense
Outflows Inflows (Revenue)
IMRF $ (1,858,664) 384,279 2,180,932 (259,617)
Police Pension 12,558,636 1,587,776 955,035 1,182,173
10,699,972 1,972,055 3,135,967 922,556
(Asset)
Liability/
Net Pension
82
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 4 – OTHER INFORMATION – Continued
EMPLOYEE RETIREMENT SYSTEM – DEFINED BENEFIT PENSION PLANS – Continued
Illinois Municipal Retirement (IMRF)
Plan Descriptions
Plan Administration. All employees (other than those covered by the Police Pension Plan) hired in
positions that meet or exceed the prescribed annual hourly standard must be enrolled in IMRF as
participating members. The plan is accounted for on the economic resources’ measurement focus and the
accrual basis of accounting. Employer and employee contributions are recognized when earned in the
year that the contributions are required, benefits and refunds are recognized as an expense and liability
when due and payable.
Benefits Provided. IMRF has three benefit plans. The vast majority of IMRF members participate in the
Regular Plan (RP). The Sheriff’s Law Enforcement Personnel (SLEP) plan is for sheriffs, deputy sheriffs,
and selected police chiefs. Counties could adopt the Elected County Official (ECO) plan for officials elected
prior to August 8, 2011 (the ECO plan was closed to new participants after that date).
IMRF provides two tiers of pension benefits. Employees hired before January 1, 2011, are eligible for
Tier 1 benefits. Tier 1 employees are vested for pension benefits when they have at least eight years of
qualifying service credit. Tier 1 employees who retire at age 55 (at reduced benefits) or after age 60 (at
full benefits) with eight years of service are entitled to an annual retirement benefit, payable monthly
for life, in an amount equal to 1-2/3% of the final rate of earnings for the first 15 years of service credit,
plus 2% for each year of service credit after 15 years to a maximum of 75% of their final rate of earnings.
Final rate of earnings is the highest total earnings during any consecutive 48 months within the last 10
years of service, divided by 48. Under Tier 1, the pension is increased by 3% of the original amount on
January 1 every year after retirement.
Employees hired on or after January 1, 2011, are eligible for Tier 2 benefits. For Tier 2 employees,
pension benefits vest after ten years of service. Participating employees who retire at age 62 (at reduced
benefits) or after age 67 (at full benefits) with ten years of service are entitled to an annual retirement
benefit, payable monthly for life, in an amount equal to 1-2/3% of the final rate of earnings for the
first 15 years of service credit, plus 2% for each year of service credit after 15 years to a maximum of
75% of their final rate of earnings. Final rate of earnings is the highest total earnings during any 96
consecutive months within the last 10 years of service, divided by 96. Under Tier 2, the pension is
increased on January 1 every year after retirement, upon reaching age 67, by the lesser of:
• 3% of the original pension amount
• or 1/2 of the increase in the Consumer Price Index of the original pension amount.
83
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 4 – OTHER INFORMATION – Continued
EMPLOYEE RETIREMENT SYSTEM – DEFINED BENEFIT PENSION PLANS – Continued
Illinois Municipal Retirement (IMRF) – Continued
Plan Descriptions – Continued
Plan Membership. As of December 31, 2021, the measurement date, the following employees were
covered by the benefit terms:
Inactive Plan Members Currently Receiving Benefits 49
Inactive Plan Members Entitled to but not yet Receiving Benefits 52
Active Plan Members 58
Total 159
Contributions. As set by statute, the City’s Regular Plan Members are required to contribute 4.5% 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. For the
year-ended April 30, 2022, the City’s contribution was 10.37% of covered payroll.
Net Pension Liability/(Asset). The City’s net pension liability/(asset) was measured as of December 31,
2021. The total pension liability used to calculate the net pension liability was determined by an actuarial
valuation as of that date.
Actuarial Assumptions. The total pension liability was determined by an actuarial valuation performed,
as of December 31, 2021, using the following actuarial methods and assumptions:
Actuarial Cost Method Entry Age
Normal
Asset Valuation Method Fair Value
Actuarial Assumptions
Interest Rate 7.25%
Salary Increases 2.85% to 13.75%
Cost of Living Adjustments 3.25%
Inflation 2.25%
84
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 4 – OTHER INFORMATION – Continued
EMPLOYEE RETIREMENT SYSTEM – DEFINED BENEFIT PENSION PLANS – Continued
Illinois Municipal Retirement (IMRF) – Continued
Plan Descriptions – Continued
Actuarial Assumptions – Continued. For nondisabled retirees, the Pub-2010, Amount-Weighted, below-
median income, General, Retiree, Male (adjusted 106%) and Female (adjusted 105%) tables, and future
mortality improvements projected using scale MP-2020. For disabled retirees, the Pub-2010, Amount-
Weighted, below-median income, General, Disabled Retiree, Male and Female (both unadjusted) tables,
and future mortality improvements projected using scale MP-2020. For active members, the Pub-2010,
Amount-Weighted, below-median income, General, Employee, Male and Female (both unadjusted)
tables, and future mortality improvements projected using scale MP-2020.
The long-term expected rate of return on pension plan investments was determined using a building-
block method in which best-estimate ranges of expected future real rates of return (expected returns, net
of pension plan investment expense, and inflation) are developed for each major asset class. These ranges
are combined to produce the long-term expected rate of return by weighting the expected future real rates
of return to the target asset allocation percentage and adding expected inflation. The target allocation and
best estimates of geometric real rates of return for each major asset class are summarized in the following
table:
Long-Term
Expected Real
Target Rate of Return
Fixed Income 25.00% (0.60%)
Domestic Equities 39.00%1.90%
International Equities 15.00%3.15%
Real Estate 10.00%3.30%
Blended 10.00% 1.70% - 5.50%
Cash and Cash Equivalents 1.00%(0.90%)
Asset Class
Discount Rate
The discount rate used to measure the total pension liability was 7.25%, same as the prior valuation. The
projection of cash flows used to determine the discount rate assumed that member contributions will be
made at the current contribution rate and that City contributions will be made at rates equal to the
difference between the actuarially determined contribution rates and the member rate. Based on those
assumptions, the Fund’s fiduciary net position was projected to be available to make all project future
benefit payments of current plan members. Therefore, the long-term expected rate of return on pension
plan investments was applied to all period of projected benefit payments to determine the total pension
liability.
85
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 4 – OTHER INFORMATION – Continued
EMPLOYEE RETIREMENT SYSTEM – DEFINED BENEFIT PENSION PLANS – Continued
Illinois Municipal Retirement (IMRF) – Continued
Discount Rate Sensitivity
The following is a sensitivity analysis of the net pension liability to changes in the discount rate. The
table below presents the pension liability of the City calculated using the discount rate as well as what
the City’s net pension liability would be if it were calculated using a discount rate that is one percentage
point lower or one percentage point higher than the current rate:
Current
Discount Rate 1% Increase
(7.25%) (8.25%)
Net Pension Liability/(Asset)$ 751,724 (1,858,664) (3,835,568)
1% Decrease
(6.25%)
Changes in the Net Pension Liability/(Asset)
Plan Fiduciary Net Pension
Net Position (Asset)
(B) (A) - (B)
Balances at December 31, 2020 $ 15,868,790 16,180,592 (311,802)
Changes for the Year:
Service Cost 376,700 - 376,700
Interest on the Total Pension Liability 1,136,979 - 1,136,979
Difference Between Expected and Actual
Experience of the Total Pension Liability 189,246 - 189,246
Changes of Assumptions - - -
Contributions - Employer - 443,761 (443,761)
Contributions - Employees - 188,122 (188,122)
Net Investment Income - 2,628,659 (2,628,659)
Benefit Payments, including Refunds
of Employee Contributions (749,354) (749,354)-
Other (Net Transfer)- (10,755) 10,755
Net Changes 953,571 2,500,433 (1,546,862)
Balances at December 31, 2021 16,822,361 18,681,025 (1,858,664)
Total
(A)
Pension
Liability
86
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 4 – OTHER INFORMATION – Continued
EMPLOYEE RETIREMENT SYSTEM – DEFINED BENEFIT PENSION PLANS – Continued
Illinois Municipal Retirement (IMRF) – Continued
Pension Expense, Deferred Outflows of Resources, and Deferred Inflows of Resources Related to
Pensions
For the year ended April 30, 2022, the City recognized pension revenue of $259,617. At April 30, 2022,
the City reported deferred outflows of resources and deferred inflows of resources related to pensions
from the following sources:
Deferred
Inflows of
Resources Totals
Difference Between Expected and Actual Experience $ 226,110 (36,691) 189,419
Change in Assumptions 23,888 (179,397) (155,509)
Net Difference Between Projected and Actual
Earnings on Pension Plan Investments - (1,964,844) (1,964,844)
Total Expenses to be Recognized
in Future Periods 249,998 (2,180,932) (1,930,934)
Pension Contributions Made Subsequent
to the Measurement Date 134,281 - 134,281
Total Deferred Amounts Related to IMRF 384,279 (2,180,932) (1,796,653)
Deferred
Outflows of
Resources
The $134,281 reported as deferred outflows of resources related to pensions resulting from employer
contributions subsequent to the measurement date and will be recognized as a reduction of the net
pension liability in the reporting year ended April 30, 2023. Amounts reported as deferred outflows of
resources and deferred inflows of resources related to pensions will be recognized in pension expense
in future periods as follows:
Fiscal
Year of Resources
2023 $ (395,205)
2024 (795,588)
2025 (460,353)
2026 (279,788)
2027 -
Thereafter -
Total (1,930,934)
(Inflows)
Net Deferred
87
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 4 – OTHER INFORMATION – Continued
EMPLOYEE RETIREMENT SYSTEM – DEFINED BENEFIT PENSION PLANS – Continued
Police Pension Plan
Plan Descriptions
Plan Administration. The Police Pension Plan is a single-employer defined benefit pension plan that
covers all sworn police personnel. The defined benefits and employee and minimum employer
contribution levels are governed by Illinois Compiled Statutes (40 ILCS 5/3-1) and may be amended only
by the Illinois legislature. The City accounts for the Fund as a pension trust fund. The Fund is governed
by a five-member pension board. Two members of the Board are appointed by the City Mayor, one
member is elected by pension beneficiaries and two members are elected by active police employees.
Plan Membership. At April 30, 2022, the measurement date, membership consisted of the following:
Inactive Plan Members Currently Receiving Benefits 13
Inactive Plan Members Entitled to but not yet Receiving Benefits 9
Active Plan Members 30
Total 52
Benefits Provided. The following is a summary of the Police Pension Plan as provided for in Illinois State
Statutes.
The Police Pension Plan provides retirement benefits through two tiers of benefits as well as death and
disability benefits. Covered employees hired before January 1, 2011 (Tier 1), attaining the age of 50 or
older with 20 or more years of creditable service are entitled to receive an annual retirement benefit of ½
of the salary attached to the rank held on the last day of service, or for one year prior to the last day,
whichever is greater. The annual benefit shall be increased by 2.5 percent of such salary for each
additional year of service over 20 years up to 30 years, to a maximum of 75 percent of such salary.
Employees with at least eight years but less than 20 years of credited service may retire at or after age 60
and receive a reduced benefit. The monthly benefit of a police officer who retired with 20 or more years
of service after January 1, 1977 shall be increased annually, following the first anniversary date of
retirement and be paid upon reaching the age of at least 55 years, by 3 percent of the original pension and
3 percent compounded annually thereafter. Covered employees hired on or after January 1, 2011 (Tier
2), attaining the age of 55 or older with 10 or more years of creditable service are entitled to receive an
annual retirement benefit equal to the average monthly salary obtained by dividing the total salary of the
police officer during the 48 consecutive months of service within the last 60 months of service in which
the total salary was the highest by the number of months of service in that period. Police officer salary
for the pension purposes is capped at $106,800, plus the lesser of ½ of the annual change in the Consumer
Price Index or 3 percent compounded. The annual benefit shall be increased by 2.5 percent of such a
salary for each additional year of service over 20 years up to 30 years to a maximum of 75 percent of
such salary. Employees with at least 10 years may retire at or after age 50 and receive a reduced benefit
(i.e., ½ percent for each month under 55).
88
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 4 – OTHER INFORMATION – Continued
EMPLOYEE RETIREMENT SYSTEM – DEFINED BENEFIT PENSION PLANS – Continued
Police Pension Plan – Continued
Plan Descriptions – Continued
Benefits Provided – Continued. The monthly benefit of a Tier 2 police officer shall be increased annually
at age 60 on the January 1st after the police officer retires, or the first anniversary of the pension starting
date, whichever is later. Noncompounding increases occur annually, each January thereafter. The increase
is the lesser of 3 percent of ½ of the change in the Consumer Price Index for the proceeding calendar
year.
Contributions. Covered employees are required to contribute 9.91% of their base salary to the Police
Pension Plan. If an employee leaves covered employment with less than 20 years of service, accumulated
employee contributions may be refunded without accumulated interest. The City is required to contribute
the remaining amounts necessary to finance the plan and the administrative costs as actuarially determined
by an enrolled actuary. However, effective January 1, 2011, ILCS requires the City to contribute a minimum
amount annually calculated using the projected unit credit actuarial cost method that will result in the
funding of 90% of the past service cost by the year 2040. For the year-ended April 30, 2022, the City’s
contribution was 49.54% of covered payroll.
Concentrations. At year-end, the Fund has over 5 percent of net plan assets available for retirement
benefits (other than investments issued or explicitly guaranteed by the U.S. government and investments
in mutual funds, external investment pools, and other pooled investments) invested in DWS RREEF
Global Real Estate Securities Fund of $725,634.
Actuarial Assumptions
The total pension liability was determined by an actuarial valuation performed, as of April 30, 2022,
using the following actuarial methods and assumptions:
Actuarial Cost Method Entry Age
Normal
Asset Valuation Method Fair Value
Actuarial Assumptions
Interest Rate 7.00%
Salary Increases 5.00%
Cost of Living Adjustments 2.50%
Inflation 2.50%
89
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 4 – OTHER INFORMATION – Continued
EMPLOYEE RETIREMENT SYSTEM – DEFINED BENEFIT PENSION PLANS – Continued
Police Pension Plan – Continued
Actuarial Assumptions – Continued
Mortality rates were based on the PubS-2010 base rates projected to 2022 with scale MP2021.
Discount Rate
The discount rate used to measure the total pension liability was 7.00%, the same as the prior valuation.
The projection of cash flows used to determine the discount rate assumed that member contributions will
be made at the current contribution rate and that City contributions will be made at rates equal to the
difference between the actuarially determined contribution rates and the member rate. Based on those
assumptions, the Fund’s fiduciary net position was projected to be available to make all project future
benefit payments of current plan members. Therefore, the long-term expected rate of return on pension
plan investments was applied to all period of projected benefit payments to determine the total pension
liability.
Discount Rate Sensitivity
The following is a sensitive analysis of the net pension liability to changes in the discount rate. The table
below presents the pension liability of the City calculated using the discount rate as well as what the
City’s net pension liability would be if it were calculated using a discount rate that is one percentage point
lower or one percentage point higher than the current rate:
Current
Discount Rate 1% Increase
(7.00%) (8.00%)
Net Pension Liability $16,999,917 12,558,636 8,984,655
(6.00%)
1% Decrease
90
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 4 – OTHER INFORMATION – Continued
EMPLOYEE RETIREMENT SYSTEM – DEFINED BENEFIT PENSION PLANS – Continued
Police Pension Plan – Continued
Changes in the Net Pension Liability
Plan Fiduciary Net Pension
Net Position Liability
(B) (A) - (B)
Balances at April 30, 2021 $ 25,026,357 14,576,330 10,450,027
Changes for the Year:
Service Cost 726,664 - 726,664
Interest on the Total Pension Liability 1,715,607 - 1,715,607
Changes of Benefit Terms - - -
Difference Between Expected and Actual
Experience of the Total Pension Liability 278,036 - 278,036
Changes of Assumptions 270,434 - 270,434
Contributions - Employer - 1,334,771 (1,334,771)
Contributions - Employees - 278,502 (278,502)
Net Investment Income - (731,141) 731,141
Benefit Payments, including Refunds
of Employee Contributions (955,800) (955,800)-
Administrative Expense (19,334) (19,334)-
Net Changes 2,015,607 (93,002) 2,108,609
Balances at April 30, 2022 27,041,964 14,483,328 12,558,636
Total
(A)
Pension
Liability
Pension Expense, Deferred Outflows of Resources, and Deferred Inflows of Resources Related to
Pensions
For the year ended April 30, 2022, the City recognized pension expense of $1,182,173. At April 30,
2022, the City reported deferred outflows of resources and deferred inflows of resources related to
pensions from the following sources:
91
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 4 – OTHER INFORMATION – Continued
EMPLOYEE RETIREMENT SYSTEM – DEFINED BENEFIT PENSION PLANS – Continued
Police Pension Plan – Continued
Pension Expense, Deferred Outflows of Resources, and Deferred Inflows of Resources Related to
Pensions – Continued
Deferred
Inflows of
Resources Totals
Difference Between Expected and Actual Experience $ 473,122 (674,002) (200,880)
Change in Assumptions 773,107 (281,033) 492,074
Net Difference Between Projected and Actual
Earnings on Pension Plan Investments 341,547 - 341,547
Total Deferred Amounts Related to Police Pension 1,587,776 (955,035) 632,741
Deferred
Outflows of
Resources
Amounts reported as deferred outflows of resources and deferred inflows of resources related to
pensions will be recognized in pension expense in future periods as follows:
Net Deferred
Fiscal Outflows/(Inflows)
Year of Resources
2023 $35,551
2024 54,666
2025 (98,757)
2026 407,562
2027 101,113
Thereafter 132,606
Total 632,741 OTHER POST-EMPLOYMENT BENEFITS
General Information about the OPEB Plan
Plan Description. The City’s defined benefit OPEB plan, Retiree Benefits Plan (RBP), provides OPEB
for all permanent full-time general and public safety employees of the City. RBP is a single-employer
defined benefit OPEB plan administered by the City. Article 11 of the State Compiled Statutes grants the
authority to establish and amend the benefit terms and financing requirements to the City Board. No
assets are accumulated in a trust that meets the criteria in paragraph 4 of Statement 75.
92
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 4 – OTHER INFORMATION – Continued
OTHER POST-EMPLOYMENT BENEFITS – Continued
General Information about the OPEB Plan – Continued
Benefits Provided. RBP provides coverage under the City of Yorkville group health program by
contributing the monthly premium to retirees and their dependents.
Plan Membership. As of April 30, 2022, the measurement date, the following employees were covered
by the benefit terms:
Inactive Plan Members Currently Receiving Benefits 11
Inactive Plan Members Entitled to but not yet Receiving Benefits -
Active Plan Members 83
Total 94
Total OPEB Liability
The City’s total OPEB liability was measured as of April 30, 2022 and was determined by an actuarial
valuation as of April 30, 2021.
Actuarial Assumptions and Other Inputs. The total OPEB liability in the April 30, 2022 actuarial
valuation was determined using the following actuarial assumptions and other inputs, applied to all
periods included in the measurement, unless otherwise specified:
Inflation 3.50%
Salary Increases 3.50%
Discount Rate 3.42%
Healthcare Cost Trend Rates
Retirees' Share of Benefit-Related Costs
7.0% for 2021,decreasing 0.25% per year to
an ultimate rate of 4.0% for 2031 and later
100% of projected health insurance premiums
for retirees
The discount rate was based upon the expected rate of return associated with funded benefits, and
unfunded benefits, the 20-year municipal bond rate.
Mortality rates were based on the RP-2014 Blue Collar base rates projected to 2021 using scale MP-2020
for Police. For all others, the RP-2014 base rates projected to 2021 using scale MP-2020 was used.
93
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 4 – OTHER INFORMATION – Continued
OTHER POST-EMPLOYMENT BENEFITS – Continued
Change in the Total OPEB Liability
Balance at April 30, 2021 $ 1,231,480
Changes for the Year:
Service Cost 63,305
Interest on the Total Pension Liability 24,995
Changes of Benefit Terms -
Difference Between Expected and Actual Experience -
Changes of Assumptions or Other Inputs (112,346)
Benefit Payments (104,947)
Net Changes (128,993)
Balance at April 30, 2022 1,102,487
Total
Total OPEB
Liability
Sensitivity of the Total OPEB Liability to Changes in the Discount Rate
The discount rate used to measure the total pension liability was 3.42%, while the prior valuation used
2.12%. The following presents the total OPEB liability, calculated using the discount rate, as well as what
the total OPEB liability would be if it were calculated using a discount rate that is one percentage point
lower or one percentage point higher:
Current
Discount Rate 1% Increase
(3.42%) (4.42%)
Total OPEB Liability $ 1,186,171 1,102,487 1,024,187
1% Decrease
(2.42%)
Sensitivity of the Total OPEB Liability to Changes in the Healthcare Cost Trend Rates
The following presents the total OPEB liability, calculated using varied Healthcare Trend Rates, as well
as what the total OPEB liability would be if it were calculated using a Healthcare Trend Rate that is one
percentage point lower or one percentage point higher:
94
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 4 – OTHER INFORMATION – Continued
OTHER POST-EMPLOYMENT BENEFITS – Continued
Sensitivity of the Total OPEB Liability to Changes in the Healthcare Cost Trend Rates – Continued
Healthcare Cost
Trend Rates
(7.00% (8.00%
Decreasing to Decreasing to
4.00%) 5.00%)
Total OPEB Liability $ 998,471 1,102,487 1,224,236
3.00%)
(6.00%
Decreasing to
OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to
OPEB
For the year ended April 30, 2022, the City recognized OPEB expense of $98,679. At April 30, 2022, the
City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the
following sources:
Deferred
Inflows of
Resources Totals
Difference Between Expected and Actual Experience $ 287,863 - 287,863
Change in Assumptions 67,103 (225,351) (158,248)
Net Difference Between Projected and Actual
Earnings on Pension Plan Investments - - -
Total Deferred Amounts Related to OPEB 354,966 (225,351) 129,615
Deferred
Outflows of
Resources
Amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB
will be recognized in OPEB expense as follows:
95
UNITED CITY OF YORKVILLE, ILLINOIS
Notes to the Financial Statements
April 30, 2022
NOTE 4 – OTHER INFORMATION – Continued
OTHER POST-EMPLOYMENT BENEFITS – Continued
OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to
OPEB – Continued
Net Deferred
Fiscal Outflows
Year of Resources
2023 $ 10,379
2024 10,379
2025 10,379
2026 10,379
2027 10,379
Thereafter 77,720
Total 129,615
SUBSEQUENT EVENTS
American Rescue Plan Act of 2021
On March 11, 2021, the American Rescue Plan Act of 2021 was signed into law. This act provides $350
billion in funding for local governments. The City has been allocated $2,805,113 to be received in two
installments. On August 13, 2021 the City received their first installment of $1,402,557. On September
16th, 2022, the City received their final installment for $1,402,556.
96
• Schedule of Employer Contributions
Illinois Municipal Retirement Fund
Police Pension Fund
• Schedule of Changes in the Employer’s Net Pension Liability
Illinois Municipal Retirement Fund
Police Pension Fund
• Schedule of Investment Returns
Police Pension Fund
• Schedule of Changes in the Employer's Total OPEB Liability
Retiree Benefit Plan
• Budgetary Comparison Schedule
General Fund
Library – Special Revenue Fund
Parks and Recreation – Special Revenue Fund
Notes to the Required Supplementary Information
REQUIRED SUPPLEMENTARY INFORMATION
Required supplementary information includes financial information and disclosures that are required by the
GASB but are not considered a part of the basic financial statements. Such information includes:
Budgetary Information –Budgets are adopted on a basis consistent with generally accepted accounting
principles.
97
UNITED CITY OF YORKVILLE, ILLINOIS
Illinois Municipal Retirement Fund
Required Supplementary Information
Schedule of Employer Contributions
April 30, 2022
Contributions as
Fiscal a Percentage of
Year Covered Payroll
2016 $311,346 $311,346 $- $2,853,781 10.91%
2017 308,134 308,134 - 2,898,722 10.63%
2018 344,487 344,487 - 3,217,682 10.71%
2019 350,666 350,666 - 3,506,685 10.00%
2020 365,540 365,540 - 3,665,848 9.97%
2021 440,315 440,315 - 4,060,573 10.84%
2022 428,230 428,230 - 4,128,183 10.37%
Notes to the Required Supplementary Information:
Actuarial Cost Method Entry Age Normal
Amortization Method Level % Pay (Closed)
Remaining Amortization Period 22 Years
Asset Valuation Method 5-Year Smoothed Fair Value
Inflation 2.50%
Salary Increases 3.35% - 14.25%
Investment Rate of Return 7.50%
Retirement Age See the Notes to the Financial Statements
Mortality
Note:
IMRF specific mortality table was used with fully generational projection
scale MP-2017 (base year 2015).
This schedule is intended to show information for ten years. Information for additional years will be displayed
as it becomes available.
Contributions
Contribution
Determined
Actuarially
Covered
Payroll(Deficiency)
Excess/
Contribution
Contribution
Determined
the Actuarially
in Relation to
98
UNITED CITY OF YORKVILLE, ILLINOIS
Police Pension Fund
Required Supplementary Information
Schedule of Employer Contributions
April 30, 2022
Contributions as
Fiscal a Percentage of
Year Covered Payroll
2015 $571,437 $624,168 $52,731 $2,220,146 28.11%
2016 722,940 722,940 - 2,294,948 31.50%
2017 825,413 825,413 - 2,320,642 35.57%
2018 966,211 966,211 - 2,543,266 37.99%
2019 963,361 963,361 - 2,449,210 39.33%
2020 1,111,484 1,111,484 - 2,631,165 42.24%
2021 1,226,371 1,230,604 4,233 2,744,017 44.85%
2022 1,334,771 1,334,771 - 2,694,486 49.54%
Notes to the Required Supplementary Information:
Actuarial Cost Method Entry Age Normal
Amortization Method Level % Pay (Closed)
Remaining Amortization Period 18 Years
Asset Valuation Method Fair Value
Inflation 2.5%
Salary Increases 5.0%
Investment Rate of Return 7.0%
Retirement Age Tier 1 - 15% at 50 to 100% at age 65
Tier 2 - 5% at 50 to 100% at age 65
Mortality
Note:
This schedule is intended to show information for ten years. Information for additional years will be displayed
as it becomes available.
in Relation to
Contributions
Payroll
Covered
(Deficiency)
Excess/
Contribution
Contribution
Determined
Actuarially
Contribution
Determined
the Actuarially
PubS-2010 base rates projected to 2022 with scale MP2021
99
UNITED CITY OF YORKVILLE, ILLINOIS
Illinois Municipal Retirement Fund
Required Supplementary Information
Schedule of Changes in the Employer's Net Pension Liability/(Asset)
April 30, 2022
See Following Page
100
UNITED CITY OF YORKVILLE, ILLINOIS
Illinois Municipal Retirement Fund
Required Supplementary Information
Schedule of Changes in the Employer's Net Pension Liability/(Asset)
April 30, 2022
Total Pension Liability
Service Cost $303,003
Interest 764,628
Differences Between Expected and Actual Experience 40,167
Change of Assumptions -
Benefit Payments, Including Refunds of Member Contributions (295,309)
Net Change in Total Pension Liability 812,489
Total Pension Liability - Beginning 10,191,193
Total Pension Liability - Ending 11,003,682
Plan Fiduciary Net Position
Contributions - Employer $311,346
Contributions - Members 129,289
Net Investment Income 49,844
Benefit Payments, Including Refunds of Member Contributions (295,309)
Other (Net Transfer)(289,688)
Net Change in Plan Fiduciary Net Position (94,518)
Plan Net Position - Beginning 9,896,191
Plan Net Position - Ending 9,801,673
Employer's Net Pension Liability/(Asset)$1,202,009
Plan Fiduciary Net Position as a Percentage of the Total Pension Liability 89.08%
Covered Payroll $2,853,781
Employer's Net Pension Liability/(Asset) as a
Percentage of Covered Payroll 42.12%
12/31/2015
Note: This schedule is intended to show information for ten years. Information for additional years will be
displayed as it becomes available.
Changes of Assumptions.Changes in assumptions related to the discount rate were made in 2015 through
2018 and 2020. Changes in assumptions related to the demographics were made in 2017.
101
12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021
317,347 330,734 316,829 356,154 384,165 376,700
825,222 887,780 924,525 1,024,674 1,104,694 1,136,979
27,153 132,182 507,597 213,134 (69,685) 189,246
- (449,845) 508,408 - (340,717) -
(318,792) (365,819) (442,124) (499,031) (509,477) (749,354)
850,930 535,032 1,815,235 1,094,931 568,980 953,571
11,003,682 11,854,612 12,389,644 14,204,879 15,299,810 15,868,790
11,854,612 12,389,644 14,204,879 15,299,810 15,868,790 16,822,361
308,134 335,204 365,769 324,580 429,468 443,761
132,252 139,927 167,364 172,689 173,017 188,122
684,949 1,792,699 (594,987) 2,196,500 1,983,375 2,628,659
(318,792) (365,819) (442,124) (499,031) (509,477) (749,354)
39,225 (226,729) 196,498 (8,647) (97,125) (10,755)
845,768 1,675,282 (307,480) 2,186,091 1,979,258 2,500,433
9,801,673 10,647,441 12,322,723 12,015,243 14,201,334 16,180,592
10,647,441 12,322,723 12,015,243 14,201,334 16,180,592 18,681,025
1,207,171 66,921 2,189,636 1,098,476 (311,802) (1,858,664)
89.82%99.46%84.59%92.82%101.96%111.05%
2,898,722 3,109,498 3,467,005 3,582,558 3,844,833 3,994,256
41.64%2.15%63.16%30.66%(8.11%)(46.53%)
102
UNITED CITY OF YORKVILLE, ILLINOIS
Police Pension Fund
Required Supplementary Information
Schedule of Changes in the Employer's Net Pension Liability
April 30, 2022
Total Pension Liability
Service Cost $522,029
Interest 986,212
Changes of Benefit Terms -
Differences Between Expected and Actual Experience (483,445)
Change of Assumptions 999,313
Benefit Payments, Including
Refunds of Member Contributions (435,435)
Net Change in Total Pension Liability 1,588,674
Total Pension Liability - Beginning 14,306,459
Total Pension Liability - Ending 15,895,133
Plan Fiduciary Net Position
Contributions - Employer $624,168
Contributions - Members 214,237
Contributions - Others -
Net Investment Income 343,590
Benefit Payments, Including
Refunds of Member Contributions (435,435)
Administrative Expense (14,285)
Net Change in Plan Fiduciary Net Position 732,275
Plan Net Position - Beginning 5,690,471
Plan Net Position - Ending 6,422,746
Employer's Net Pension Liability $9,472,387
Plan Fiduciary Net Position as a
Percentage of the Total Pension Liability 40.41%
Covered Payroll $2,220,146
Employer's Net Pension Liability as a
Percentage of Covered Payroll 426.66%
4/30/2015
Note: This schedule is intended to show information for ten years. Information for additional years will be
displayed as it becomes available.
103
4/30/2016 4/30/2017 4/30/2018 4/30/2019 4/30/2020 4/30/2021 4/30/2022
576,907 611,857 589,463 650,245 672,849 745,174 726,664
1,097,143 1,283,144 1,349,196 1,374,562 1,517,322 1,613,488 1,715,607
- - - - 43,601 - -
322,766 123,907 (1,529,007) 105,712 51,301 137,349 278,036
1,116,723 (565,454) 498,740 612,775 (54,912) (97,277) 270,434
(443,314) (469,494) (501,417) (597,064) (798,961) (906,100) (975,134)
2,670,225 983,960 406,975 2,146,230 1,431,200 1,492,634 2,015,607
15,895,133 18,565,358 19,549,318 19,956,293 22,102,523 23,533,723 25,026,357
18,565,358 19,549,318 19,956,293 22,102,523 23,533,723 25,026,357 27,041,964
722,940 825,413 966,211 963,361 1,111,484 1,230,604 1,334,771
222,736 234,058 249,421 243,941 269,903 261,904 278,502
- 32,388 - - - - -
(30,493) 473,420 421,975 717,071 (121,161) 3,124,939 (731,141)
(443,314) (469,494) (501,417) (597,064) (787,372) (893,334) (955,800)
(13,448) (11,774) (12,266) (12,693) (11,589) (12,766) (19,334)
458,421 1,084,011 1,123,924 1,314,616 461,265 3,711,347 (93,002)
6,422,746 6,881,167 7,965,178 9,089,102 10,403,718 10,864,983 14,576,330
6,881,167 7,965,178 9,089,102 10,403,718 10,864,983 14,576,330 14,483,328
11,684,191 11,584,140 10,867,191 11,698,805 12,668,740 10,450,027 12,558,636
37.06%40.74%45.55%47.07%46.17%58.24%53.56%
2,294,948 2,320,642 2,543,266 2,449,210 2,631,165 2,744,017 2,694,486
509.13%499.18%427.29%477.66%481.49%380.83%466.09%
104
UNITED CITY OF YORKVILLE, ILLINOIS
Police Pension Fund
Required Supplementary Information
Schedule of Investment Returns
April 30, 2022
Annual Money-
Weighted Rate
of Return, Net
Fiscal of Investment
Year Expense
2015 5.89%
2016 (0.43%)
2017 6.54%
2018 5.09%
2019 7.56%
2020 (1.08%)
2021 26.92%
2022 (4.76%)
Note:
This schedule is intended to show information for ten years. Information for additional years will be displayed
as it becomes available.
105
UNITED CITY OF YORKVILLE, ILLINOIS
Retiree Benefit Plan
Required Supplementary Information
Schedule of Changes in the Employer's Total OPEB Liability
April 30, 2022
4/30/2020 4/30/2021 4/30/2022
Total OPEB Liability
Service Cost $43,414 46,531 62,448 63,305
Interest 40,335 37,312 29,424 24,995
Changes in Benefit Terms - - - -
Differences Between Expected and Actual
Experience - - 328,449 -
Change of Assumptions or Other Inputs 12,225 72,122 (136,858) (112,346)
Benefit Payments (122,570) (132,377) (126,246) (104,947)
Net Change in Total OPEB Liability (26,596) 23,588 157,217 (128,993)
Total OPEB Liability - Beginning 1,077,271 1,050,675 1,074,263 1,231,480
Total OPEB Liability - Ending 1,050,675 1,074,263 1,231,480 1,102,487
Covered-Employee Payroll $5,675,523 5,874,167 6,432,473 6,657,610
Total OPEB Liability as a Percentage of
Covered-Employee Payroll 18.51%18.29%19.14%16.56%
Notes:
Changes of Assumptions. Changes of assumptions related to the discount rate were made in 2019 through 2022.
4/30/2019
This schedule is intended to show information for ten years. Information for additional years will be displayed
as it becomes available.
No assets are accumulated in a trust that meets the criteria in paragraph 4 of Statement 75.
106
UNITED CITY OF YORKVILLE, ILLINOIS
General Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Revenues
Taxes $12,089,017 12,089,017 14,350,349
Intergovernmental 3,401,780 3,401,780 5,630,190
Licenses, Permits and Fees 524,500 524,500 834,170
Charges for Services 1,781,123 1,781,123 1,902,362
Fines and Forfeitures 116,850 116,850 197,158
Interest Income (Loss)20,000 20,000 (33,857)
Miscellaneous 132,000 132,000 237,575
Total Revenues 18,065,270 18,065,270 23,117,947
Expenditures
General Government 5,324,141 5,293,141 5,141,027
Public Safety 6,158,904 6,158,904 6,018,903
Community Development 959,515 990,515 1,154,892
Public Works 2,649,285 2,649,285 2,572,571
Total Expenditures 15,091,845 15,091,845 14,887,393
Excess (Deficiency) of Revenues
Over (Under) Expenditures 2,973,425 2,973,425 8,230,554
Other Financing Sources (Uses)
Transfers In 35,000 35,000 21,231
Transfers Out (3,008,425)(3,008,425)(6,797,039)
(2,973,425)(2,973,425)(6,775,808)
Net Change in Fund Balance - - 1,454,746
Fund Balance - Beginning 9,172,354
Fund Balance - Ending 10,627,100
Budget
Original
107
UNITED CITY OF YORKVILLE, ILLINOIS
Library - Special Revenue Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Revenues
Taxes $1,612,758 1,612,758 1,611,808
Intergovernmental 26,401 26,401 48,746
Licenses, Permits and Fees 50,000 50,000 103,850
Charges for Services 12,300 12,300 11,131
Fines and Forfeits 8,500 8,500 6,576
Interest Income 2,200 2,200 1,530
Miscellaneous 3,750 3,750 2,796
Total Revenues 1,715,909 1,715,909 1,786,437
Expenditures
Library 943,018 943,018 834,944
Capital Outlay 20,000 20,000 18,050
Debt Service
Principal Retirement 720,000 720,000 720,000
Interest and Fiscal Charges 121,925 121,925 121,914
Total Expenditures 1,804,943 1,804,943 1,694,908
Excess (Deficiency) of Revenues
Over (Under) Expenditures (89,034)(89,034)91,529
Other Financing Sources
Transfers In 26,993 26,993 24,809
Net Change in Fund Balance (62,041)(62,041)116,338
Fund Balance - Beginning 807,221
Fund Balance - Ending 923,559
Budget
Original
108
UNITED CITY OF YORKVILLE, ILLINOIS
Parks and Recreation - Special Revenue Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Revenues
Charges for Services $650,000 650,000 549,231
Grants and Donations 349,250 349,250 7,800
Interest Income 250 250 87
Miscellaneous 208,709 208,709 235,413
Total Revenues 1,208,209 1,208,209 792,531
Expenditures
Parks and Recreation
Park Operations 1,402,523 1,402,523 1,300,338
Recreation Operations 1,313,535 1,398,535 1,080,704
Total Expenditures 2,716,058 2,801,058 2,381,042
Excess (Deficiency) of Revenues
Over (Under) Expenditures (1,507,849)(1,592,849)(1,588,511)
Other Financing Sources
Transfers In 1,434,849 1,434,849 1,515,511
Net Change in Fund Balance (73,000)(158,000)(73,000)
Fund Balance - Beginning 73,000
Fund Balance - Ending -
Budget
Original
109
Such statements and schedules include:
• Budgetary Comparison Schedules – Major Governmental Funds
• Combining Statements – Nonmajor Governmental Funds
• Budgetary Comparison Schedules – Nonmajor Governmental Funds
• Budgetary Comparison Schedules – Enterprise Funds
• Consolidated Year-End Financial Report
OTHER SUPPLEMENTARY INFORMATION
Other supplementary information includes financial statements and schedules not required by the GASB, nor a
part of the basic financial statements, but are presented for purposes of additional analysis.
110
Buildings and Grounds Fund
The Buildings and Grounds Fund is used to account for maintenance of existing and construction of new
municipal owned buildings.
Citywide Capital Fund
The Citywide Capital Fund is used to account for financial resources accumulated for maintenance of public
infrastructure and to fund new capital improvements that benefit the public.
Special Revenue Funds are created to account for the proceeds of specific revenue sources (other than fiduciary
funds or capital project funds) that are legally restricted to expenditure for specified purposes.
Library Fund
The Library Fund is used to account for the activity relating to the Yorkville Public Library.
Parks and Recreation Fund
The Parks and Recreation Fund is used to account for the revenues and expenditures associated with the
Yorkville Parks and Recreation departments.
CAPITAL PROJECTS FUND
MAJOR GOVERNMENTAL FUNDS
GENERAL FUND
The General Fund accounts for all financial resources except those required to be accounted for in another fund.
SPECIAL REVENUE FUNDS
Capital Projects Funds are created to account for all resources used for the acquisition of capital facilities by a
governmental unit except those financed by Proprietary Funds.
111
UNITED CITY OF YORKVILLE, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Taxes
Property Tax $3,426,246 3,426,246 3,415,461
Sales Tax 3,582,508 3,582,508 4,450,012
Non-Home Rule Sales Tax 2,649,473 2,649,473 3,483,930
Municipal Utility Tax 993,340 993,340 1,209,606
Excise Tax 209,000 209,000 199,888
Cable TV Franchise Tax 300,000 300,000 298,048
Hotel Tax 80,000 80,000 138,415
Video Gaming Tax 140,000 140,000 252,890
Admissions and Amusement Tax 270,000 270,000 337,279
Business District Tax 421,950 421,950 547,651
Auto Rental Tax 16,500 16,500 17,169
12,089,017 12,089,017 14,350,349
Intergovernmental
State Income Taxes 2,336,774 2,336,774 3,175,556
State Use Tax 937,660 937,660 798,764
Cannabis Excise Tax 19,596 19,596 32,368
Township Road and Bridge Tax 54,975 54,975 54,872
Personal Property Replacement Tax 16,500 16,500 48,889
Federal Grants 15,275 15,275 1,506,738
State Grants 20,000 20,000 12,329
Miscellaneous 1,000 1,000 674
3,401,780 3,401,780 5,630,190
Licenses, Permits and Fees
Liquor Licenses 65,000 65,000 79,614
Other Licenses 9,500 9,500 8,577
Building Permits 450,000 450,000 745,979
524,500 524,500 834,170
Charges for Services
Garbage Surcharge 1,397,063 1,397,063 1,494,148
Collection Fees - Sanitary District 165,000 165,000 184,951
Administrative Chargeback 218,560 218,560 218,560
Police Special Detail 500 500 4,703
1,781,123 1,781,123 1,902,362
Budget
Original
112
UNITED CITY OF YORKVILLE, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual - Continued
For the Fiscal Year Ended April 30, 2022
Final Actual
Fines and Forfeitures
Circuit Court Fines $35,000 35,000 50,258
Administrative Adjudication 26,500 26,500 88,880
Police Tows 55,000 55,000 57,500
Other 350 350 520
116,850 116,850 197,158
Interest Income (Loss)
Investment Income 20,000 20,000 11,013
Unrealized Gain (Loss)- - (44,870)
20,000 20,000 (33,857)
Miscellaneous
Reimbursements
Engineering 10,000 10,000 296
Liability Insurance 15,000 15,000 1,056
Other 19,000 19,000 85,011
Miscellaneous Income 88,000 88,000 151,212
132,000 132,000 237,575
Total Revenues 18,065,270 18,065,270 23,117,947
Budget
Original
113
UNITED CITY OF YORKVILLE, ILLINOIS
General Fund
Schedule of Expenditures - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
General Government
Administration $996,443 996,443 822,343
Finance 557,390 557,390 536,226
Administrative Services 3,770,308 3,739,308 3,782,458
5,324,141 5,293,141 5,141,027
Public Safety
Police Department 6,158,904 6,158,904 6,018,903
Community Development
Building and Zoning 959,515 990,515 1,154,892
Public Works
Streets Operations 1,255,026 1,255,026 1,095,413
Health and Sanitation 1,394,259 1,394,259 1,477,158
2,649,285 2,649,285 2,572,571
Total Expenditures 15,091,845 15,091,845 14,887,393
Budget
Original
114
UNITED CITY OF YORKVILLE, ILLINOIS
General Fund
Schedule of Detailed Expenditures - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
General Government
Administration
Salaries - Mayor $10,000 10,000 9,800
Salaries - Liquor Commissioner 1,000 1,000 1,000
Salaries - Alderman 48,000 48,000 46,000
Salaries - Administration 567,473 567,473 472,283
Retirement Plan Contribution 59,061 59,061 46,428
FICA Contribution 44,356 44,356 35,793
Group Health Insurance 88,445 88,445 56,131
Group Life Insurance 687 687 581
Dental Insurance 7,454 7,454 5,670
Vision Insurance 1,130 1,130 910
Training and Conferences 17,000 17,000 1,908
Travel and Lodging 10,000 10,000 2,116
Computer Replacement Chargeback 3,336 3,336 4,612
Publishing and Advertising 5,000 5,000 5,033
Printing and Duplicating 3,250 3,250 1,279
Telecommunications 22,300 22,300 32,921
Filing Fees 500 500 -
Codification 10,000 10,000 2,272
Postage and Shipping 3,000 3,000 311
Dues and Subscriptions 22,000 22,000 22,489
Professional Services 12,000 12,000 9,725
Utilities 33,708 33,708 40,210
Rental and Lease Purchase 3,000 3,000 2,792
Office Cleaning 13,743 13,743 12,915
Office Supplies 10,000 10,000 9,164
996,443 996,443 822,343
Finance
Salaries and Wages 326,735 326,735 316,610
Retirement Plan Contribution 34,006 34,006 32,884
FICA Contribution 23,676 23,676 22,937
Group Health Insurance 48,081 48,081 37,512
Group Life Insurance 361 361 362
Dental Insurance 4,132 4,132 4,132
Budget
Original
115
UNITED CITY OF YORKVILLE, ILLINOIS
General Fund
Schedule of Detailed Expenditures - Budget and Actual - Continued
For the Fiscal Year Ended April 30, 2022
Final Actual
General Government - Continued
Finance - Continued
Vision Insurance $624 624 624
Training and Conferences 3,500 3,500 140
Auditing Services 35,900 35,900 35,900
Travel and Lodging 600 600 -
Computer Replacement Chargeback 1,895 1,895 3,736
Printing and Duplicating 3,500 3,500 3,265
Telecommunications 1,980 1,980 2,049
Postage and Shipping 1,200 1,200 1,044
Dues and Subscriptions 1,500 1,500 510
Professional Services 65,000 65,000 70,638
Rental and Lease Purchase 2,200 2,200 2,063
Office Supplies 2,500 2,500 1,820
557,390 557,390 536,226
Administrative Services
Police Special Detail Wages 500 500 4,703
Unemployment Insurance 16,500 16,500 15,312
Liability Insurance 346,323 346,323 369,608
Group Health Insurance - Retirees 44,302 44,302 41,950
Dental Insurance - Retirees 333 333 1,838
Vision Insurance - Retirees 62 62 74
Purchasing Services 62,437 62,437 37,114
IDOR Adminstration Fee 49,556 49,556 64,461
Computer Replacement Chargeback 1,895 1,895 1,278
GC Housing Rental Assistance 10,114 10,114 9,960
Utility Tax Rebate 8,000 8,000 8,627
Amusement Tax Rebate 12,000 12,000 25,564
Kencom 124,409 124,409 194,516
Information Technology Services 400,000 400,000 173,138
Building and Grounds Chargeback 118,190 118,190 86,745
Corporate Counsel 110,000 110,000 60,657
Litigation Counsel 110,000 110,000 61,263
Professional Services 48,150 48,150 33,483
Special Counsel 25,000 25,000 12,391
Budget
Original
116
UNITED CITY OF YORKVILLE, ILLINOIS
General Fund
Schedule of Detailed Expenditures - Budget and Actual - Continued
For the Fiscal Year Ended April 30, 2022
Final Actual
General Government - Continued
Administrative Services - Continued
Engineering Services $300,000 300,000 410,303
Kendall Area Transit 25,000 25,000 35,325
Cable Consortium Fee 65,000 65,000 -
Hotel Tax Rebate 72,000 72,000 124,574
Economic Development 165,000 165,000 167,135
City Property Tax Rebate 1,326 1,326 1,328
Sales Tax Rebate 1,004,700 1,004,700 1,155,467
Business District Rebate 413,511 413,511 536,698
Admission Tax Rebate 145,000 145,000 148,662
Bad Debt 1,000 1,000 284
Reimbursable Repairs 15,000 15,000 -
Contingency 75,000 44,000 -
3,770,308 3,739,308 3,782,458
Total General Government 5,324,141 5,293,141 5,141,027
Public Safety
Police Department
Salaries - Police Officers 1,975,199 1,975,199 2,005,286
Salaries - Command Staff 525,732 525,732 473,178
Salaries - Sergeants 559,921 559,921 559,317
Salaries - Police Clerks 182,926 182,926 165,838
Salaries - Crossing Guard 30,000 30,000 27,597
Part Time Salaries 70,000 70,000 56,665
Overtime 111,000 111,000 75,521
Retirement Plan Contribution 19,039 19,039 17,232
Employer Contribution - Police Pension 1,334,771 1,334,771 1,334,771
FICA Contribution 257,542 257,542 249,950
Group Health Insurance 572,407 572,407 547,823
Group Life Insurance 4,269 4,269 4,228
Dental Insurance 39,409 39,409 39,843
Vision Insurance 5,987 5,987 6,014
Tuition Reimbursement 13,350 13,350 12,864
Police Commission 5,780 5,780 5,171
Budget
Original
117
UNITED CITY OF YORKVILLE, ILLINOIS
General Fund
Schedule of Detailed Expenditures - Budget and Actual - Continued
For the Fiscal Year Ended April 30, 2022
Final Actual
Public Safety - Continued
Police Department - Continued
Training and Conferences $24,500 24,500 24,817
Travel and Lodging 10,000 10,000 2,066
Vehicle and Equipment Chargeback 91,732 91,732 91,732
Computer Replacement Chargeback 3,336 3,336 3,518
Printing and Duplicating 5,000 5,000 3,797
Telecommunications 43,500 43,500 40,158
Postage and Shipping 1,200 1,200 702
Dues and Subscriptions 10,700 10,700 9,997
Professional Services 39,950 39,950 29,959
Adjudication Services 20,750 20,750 14,046
New World Live Scan 2,000 2,000 1,995
Kendall Co. - Juve Probation 4,600 4,600 6,608
Rental and Lease Purchase 5,600 5,600 4,825
Office Cleaning 13,806 13,806 12,724
Outside Repair and Maintenance 60,000 60,000 51,274
Wearing Apparel 15,000 15,000 14,963
Office Supplies 4,500 4,500 7,487
Operating Supplies 16,500 16,500 31,366
Community Services 3,000 3,000 2,947
Ballistic Vests 4,550 4,550 4,440
Gasoline 62,348 62,348 70,454
Ammunition 9,000 9,000 7,730
Total Public Safety 6,158,904 6,158,904 6,018,903
Community Development
Building and Zoning
Salaries and Wages 561,611 561,611 602,702
Retirement Plan Contribution 58,451 58,451 62,128
FICA Contribution 41,374 41,374 44,979
Group Health Insurance 85,991 85,991 84,594
Group Life Insurance 707 707 608
Dental Insurance 7,034 7,034 7,088
Vision Insurance 1,115 1,115 1,131
Budget
Original
118
UNITED CITY OF YORKVILLE, ILLINOIS
General Fund
Schedule of Detailed Expenditures - Budget and Actual - Continued
For the Fiscal Year Ended April 30, 2022
Final Actual
Community Development - Continued
Building and Zoning - Continued
Training and Conferences $7,300 7,300 1,605
Travel and Lodging 6,500 6,500 1,426
Vehicle and Equipment Chargebacks - 31,000 110,395
Computer Replacement Chargebacks - - 5,910
Publishing and Advertising 2,500 2,500 3,522
Printing and Duplicating 1,500 1,500 835
Telecommunications 4,000 4,000 3,403
Postage and Shipping 500 500 123
Inspections 70,000 70,000 160,270
Dues and Subscriptions 2,750 2,750 2,112
Professional Services 89,280 89,280 46,690
Rental and Lease Purchase 3,150 3,150 2,269
Vehicle Maintenance Services 4,500 4,500 1,927
Office Supplies 1,500 1,500 1,675
Operating Supplies 5,000 5,000 4,533
Gasoline 4,752 4,752 4,967
Total Community Development 959,515 990,515 1,154,892
Public Works
Streets Operations
Salaries and Wages 560,857 560,857 493,536
Part Time Salaries 13,440 13,440 3,870
Overtime 22,500 22,500 27,495
Retirement Plan Contribution 60,715 60,715 52,811
FICA Contribution 43,565 43,565 38,377
Group Health Insurance 156,120 156,120 118,132
Group Life Insurance 941 941 1,049
Dental Insurance 10,663 10,663 8,534
Vision Insurance 1,576 1,576 1,258
Training and Conferences 6,000 6,000 -
Travel and Lodging 3,000 3,000 8
Vehicle and Equipment Chargeback 100,000 100,000 108,000
Computer Replacement Chargeback - - 453
Budget
Original
119
UNITED CITY OF YORKVILLE, ILLINOIS
General Fund
Schedule of Detailed Expenditures - Budget and Actual - Continued
For the Fiscal Year Ended April 30, 2022
Final Actual
Public Works - Continued
Streets Operations - Continued
Traffic Signal Maintenance $30,000 30,000 16,406
Telecommunications 7,600 7,600 4,866
Mosquito Control 6,615 6,615 -
Tree and Stump Removal 15,000 15,000 12,750
Professional Services 9,225 9,225 11,753
Julie Services 4,500 4,500 4,002
Rental and Lease Purchase 6,000 6,000 3,379
Office Cleaning 1,329 1,329 1,270
Vehicle Maintenance Services 65,000 65,000 73,825
Wearing Apparel 5,000 5,000 5,077
Operating Supplies 22,000 22,000 19,760
Vehicle Maintenance Supplies 30,000 30,000 39,293
Small Tools and Equipment 21,500 21,500 8,921
Repair and Maintenance 25,000 25,000 11,782
Julie Supplies 1,200 1,200 650
Gasoline 25,680 25,680 28,156
1,255,026 1,255,026 1,095,413
Health and Sanitation
Garbage Services 1,385,259 1,385,259 1,471,265
Leaf Pickup 9,000 9,000 5,893
1,394,259 1,394,259 1,477,158
Total Public Works 2,649,285 2,649,285 2,572,571
Total Expenditures 15,091,845 15,091,845 14,887,393
Budget
Original
120
UNITED CITY OF YORKVILLE, ILLINOIS
Library - Special Revenue Fund
Schedule of Revenues - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Taxes
Property Tax $1,612,758 1,612,758 1,611,808
Intergovernmental
Personal Property Replacement Tax 5,250 5,250 16,201
Grants 21,151 21,151 32,545
26,401 26,401 48,746
Licenses, Permits and Fees
Development Fees 50,000 50,000 103,850
Charges for Services
Library Subscription Cards 8,500 8,500 8,378
Program Fees - - 51
Copy Fees 3,800 3,800 2,702
12,300 12,300 11,131
Fines and Forfeitures 8,500 8,500 6,576
Interest Income 2,200 2,200 1,530
Miscellaneous
Rental Income 1,750 1,750 200
Miscellaneous Income 2,000 2,000 2,596
3,750 3,750 2,796
Total Revenues 1,715,909 1,715,909 1,786,437
Budget
Original
121
UNITED CITY OF YORKVILLE, ILLINOIS
Library - Special Revenue Fund
Schedule of Expenditures - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Library
Salaries and Wages $286,470 286,470 269,386
Part Time Salaries 195,544 195,544 170,202
Retirement Plan Contribution 32,180 32,180 27,675
FICA Contribution 35,685 35,685 32,700
Group Health Insurance 105,501 105,501 79,114
Group Life Insurance 377 377 532
Dental Insurance 7,079 7,079 6,336
Vision Insurance 1,088 1,088 915
Unemployment Insurance 1,000 1,000 645
Liability Insurance 25,993 25,993 24,164
Training and Conferences 3,000 3,000 357
Travel and Lodging 1,500 1,500 310
Publishing and Advertising 2,500 2,500 1,332
Telecommunications 7,200 7,200 7,199
Postage and Shipping 750 750 884
Dues and Subscriptions 11,000 11,000 9,324
Professional Services 40,000 40,000 34,322
Legal Services 3,000 3,000 4,050
Automation 20,000 20,000 17,461
Utilities 12,351 12,351 27,568
Outside Repair and Maintenance 50,000 50,000 22,916
Office Supplies 8,000 8,000 4,694
Operating Supplies 4,000 4,000 1,240
Custodial Supplies 7,000 7,000 4,030
Computer Equipment and Software 17,000 17,000 26,881
Library Programming 2,000 2,000 325
Employee Recognition 300 300 171
E-Book Subscriptions 3,500 3,500 3,000
Audio Books 3,500 3,500 3,029
DVD's and CD's 4,000 4,000 2,867
Books 51,500 51,500 51,315
Total Library 943,018 943,018 834,944
Budget
Original
122
UNITED CITY OF YORKVILLE, ILLINOIS
Library - Special Revenue Fund
Schedule of Expenditures - Budget and Actual - Continued
For the Fiscal Year Ended April 30, 2022
Final Actual
Capital Outlay
Building Improvements $20,000 20,000 18,050
Debt Service
Principal Retirement 720,000 720,000 720,000
Interest and Fiscal Charges 121,925 121,925 121,914
Total Debt Service 841,925 841,925 841,914
Total Expenditures 1,804,943 1,804,943 1,694,908
Budget
Original
123
UNITED CITY OF YORKVILLE, ILLINOIS
Parks and Recreation - Special Revenue Fund
Schedule of Revenues - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Charges for Services
Fees for Programs $605,000 605,000 523,027
Concessions 45,000 45,000 26,204
Total Charges for Services 650,000 650,000 549,231
Grants and Donations
Federal Grants 334,250 334,250 -
Sponsorships and Donations 15,000 15,000 7,800
Total Grants and Donations 349,250 349,250 7,800
Interest Income 250 250 87
Miscellaneous
Rental Income 83,709 83,709 74,117
Hometown Days Revenue 120,000 120,000 145,676
Reimbursements - - 3,991
Miscellaneous Income 5,000 5,000 11,629
Total Miscellaneous 208,709 208,709 235,413
Total Revenue 1,208,209 1,208,209 792,531
Budget
Original
124
UNITED CITY OF YORKVILLE, ILLINOIS
Parks and Recreation - Special Revenue Fund
Schedule of Expenditures - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Parks and Recreation
Park Operations
Salaries and Wages $659,709 659,709 626,958
Part Time Salaries 62,500 62,500 54,471
Overtime 5,000 5,000 4,590
Retirement Plan Contribution 70,935 70,935 66,794
FICA Contribution 53,594 53,594 51,118
Group Health Insurance 173,195 173,195 141,648
Group Life Insurance 1,149 1,149 1,015
Dental Insurance 11,605 11,605 10,794
Vision Insurance 1,734 1,734 1,616
Training and Conferences 9,000 9,000 1,160
Travel and Lodging 3,000 3,000 322
Vehicle and Equipment Chargeback 88,866 88,866 88,866
Telecommunications 8,250 8,250 9,348
Professional Services 11,400 11,400 10,648
Legal Services 1,000 1,000 495
Rental and Lease Purchase 8,055 8,055 7,934
Office Cleaning 3,487 3,487 3,542
Outside Repairs and Maintenance 40,000 40,000 24,007
Wearing Apparel 6,220 6,220 5,226
Operating Supplies 25,000 25,000 14,277
Small Tools and Equipment 11,000 11,000 8,862
Repairs and Maintenance 71,000 71,000 83,078
Athletic Fields and Equipment 55,000 55,000 49,357
Gasoline 21,824 21,824 34,212
Total Park Operations 1,402,523 1,402,523 1,300,338
Recreation Operations
Salaries and Wages 386,753 386,753 369,077
Part Time Salaries 23,500 23,500 4,078
Concession Wages 15,000 15,000 8,820
Preschool Wages 40,000 40,000 42,373
Instructor Wages 40,000 40,000 12,468
Retirement Plan Contribution 45,446 45,446 39,317
FICA Contribution 37,238 37,238 32,801
Budget
Original
125
UNITED CITY OF YORKVILLE, ILLINOIS
Parks and Recreation - Special Revenue Fund
Schedule of Expenditures - Budget and Actual - Continued
For the Fiscal Year Ended April 30, 2022
Final Actual
Parks and Recreation - Continued
Recreation Operations - Continued
Group Health Insurance $107,479 107,479 69,510
Group Life Insurance 748 748 607
Dental Insurance 7,685 7,685 5,084
Vision Insurance 1,156 1,156 797
Training and Conferences 5,000 5,000 1,952
Travel and Lodging 3,000 3,000 4
Computer Replacement Chargeback 1,770 1,770 2,473
Publishing and Advertising 55,000 55,000 11,356
Telecommunications 8,750 8,750 14,482
Scholarships 2,500 2,500 -
Postage and Shipping 3,500 3,500 1,114
Dues and Subscriptions 3,000 3,000 2,247
Professional Services 140,000 140,000 87,708
Utilities 14,072 14,072 7,333
Rental and Lease Purchase 3,000 3,000 1,339
Office Cleaning 7,938 7,938 7,419
Outside Repairs and Maintenance 3,000 3,000 976
Hometown Days Expenditures 120,000 120,000 127,875
Program Supplies 200,000 285,000 189,295
Concession Supplies 18,000 18,000 13,013
Office Supplies 3,000 3,000 2,394
Operating Supplies 15,000 15,000 23,430
Repairs and Maintenance 2,000 2,000 1,362
Total Recreation Operations 1,313,535 1,398,535 1,080,704
Total Expenditures 2,716,058 2,801,058 2,381,042
Budget
Original
126
UNITED CITY OF YORKVILLE, ILLINOIS
Citywide Capital - Capital Projects Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Revenues
Licenses, Permits and Fees
Building Permits $- - 203,480
Development Fees 5,000 5,000 4,715
Road Contribution Fee 100,000 100,000 8,000
Charges for Services
Road Infrastructure Fee 785,000 785,000 837,007
Interest Income 500 500 4,712
Miscellaneous 2,521,322 2,521,322 1,619,841
Total Revenues 3,411,822 3,411,822 2,677,755
Expenditures
Public Works 301,214 301,214 285,078
Capital Outlay 4,438,876 4,438,876 2,679,942
Debt Service
Principal Retirement 200,000 200,000 200,000
Interest and Fiscal Charges 115,813 115,813 115,813
Total Expenditures 5,055,903 5,055,903 3,280,833
Excess (Deficiency) of Revenues
Over (Under) Expenditures (1,644,081)(1,644,081)(603,078)
Other Financing Sources (Uses)
Transfers In 2,396,250 2,396,250 3,138,492
Transfers Out (489,382)(489,382)(489,382)
1,906,868 1,906,868 2,649,110
Net Change in Fund Balance 262,787 262,787 2,046,032
Fund Balance - Beginning 119,569
Fund Balance - Ending 2,165,601
Budget
Original
127
UNITED CITY OF YORKVILLE, ILLINOIS
Citywide Capital - Capital Projects Fund
Schedule of Expenditures - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Public Works
Street Lighting and Signs $125,214 125,214 114,101
Sidewalk and Street Lighting Supplies 52,500 52,500 44,475
Professional Services 13,500 13,500 -
Engineering Services 109,000 109,000 126,167
Bad Debt 1,000 1,000 335
Total General Government 301,214 301,214 285,078
Capital Outlay
Asphalt Patching 35,000 35,000 5,264
Fox Hill Improvements 85,000 85,000 158
Mill Road Improvement 2,260,000 2,260,000 1,560,439
Blackberry Woods Subdivision 6,101 6,101 -
Road To Better Roads Program 1,148,725 1,148,725 812,945
Bristol Bridge Road 70,000 70,000 76,381
Sidewalk Replacement Program 300,000 300,000 159,960
RT 71 (RT47/Orchard Road) Project 82,050 82,050 -
US 34 (Center/Eldamain Road) Project 110,000 110,000 -
US 34 (IL 47/Orchard Road) Project 85,000 85,000 -
Raintree Village Improvements 165,000 165,000 6,355
Kennedy Road (North)60,000 60,000 58,440
Kennedy Road Bike Trail 32,000 32,000 -
Total Capital Outlay 4,438,876 4,438,876 2,679,942
Debt Service
Principal Retirement 200,000 200,000 200,000
Interest and Fiscal Charges 115,813 115,813 115,813
Total Debt Service 315,813 315,813 315,813
Total Expenditures 5,055,903 5,055,903 3,280,833
Budget
Original
128
UNITED CITY OF YORKVILLE, ILLINOIS
Buildings and Grounds - Capital Projects Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Revenues
Licenses, Permits and Fees
Development Fees $35,000 35,000 21,231
Charges for Services
Buildings and Grounds Chargeback 147,738 147,738 108,431
Interest Income 3,000 3,000 1,172
Miscellaneous 2,000 2,000 576
Total Revenues 187,738 187,738 131,410
Expenditures
Public Works 334,738 334,738 238,056
Capital Outlay 6,980,000 6,980,000 1,078,232
Debt Service
Interest and Fiscal Charges 239,511 239,511 239,522
Total Expenditures 7,554,249 7,554,249 1,555,810
Excess (Deficiency) of Revenues
Over (Under) Expenditures (7,366,511)(7,366,511)(1,424,400)
Other Financing Sources (Uses)
Debt Issuance 8,707,478 8,707,478 9,260,000
Premium on Debt Issuance - - 525,011
Transfers In 689,033 689,033 3,709,380
Transfers Out (2,030,000)(2,030,000)(2,067,734)
7,366,511 7,366,511 11,426,657
Net Change in Fund Balance - - 10,002,257
Fund Balance - Beginning -
Fund Balance - Ending 10,002,257
Budget
Original
129
UNITED CITY OF YORKVILLE, ILLINOIS
Buildings and Grounds - Capital Projects Fund
Schedule of Expenditures - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Public Works
Salaries and Wages $50,117 50,117 33,558
Retirement Plan Contribution 5,216 5,216 3,339
FICA Contribution 3,547 3,547 2,640
Group Health Insurance 21,690 21,690 900
Group Life Insurance 109 109 62
Dental Insurance 1,352 1,352 444
Vision Insurance 197 197 75
Computer Replacement Chargeback - - 1,191
Facility Management Services 65,510 65,510 62,592
Telecommunications - - 2,331
Property and Building Maintenance Services 160,000 160,000 116,890
Professional Services - - 45
Wearing Apparel - - 841
Hanging Baskets 2,000 2,000 412
Property and Building Maintenance Supplies 25,000 25,000 12,736
Total Public Works 334,738 334,738 238,056
Capital Outlay
City Hall Improvements 6,980,000 6,980,000 1,078,232
Debt Service
Interest and Fiscal Charges 239,511 239,511 239,522
Total Expenditures 7,554,249 7,554,249 1,555,810
Budget
Original
130
NONMAJOR GOVERNMENTAL FUNDS
COMBINING STATEMENTS
131
UNITED CITY OF YORKVILLE, ILLINOIS
Nonmajor Governmental Funds
Combining Balance Sheet
April 30, 2022
Debt Capital
Service Projects Totals
ASSETS
Cash and Investments $529,847 - 1,628,947 2,158,794
Receivables - Net of Allowances
Accounts - - 29,691 29,691
Other Taxes 63,831 - - 63,831
Total Assets 593,678 - 1,658,638 2,252,316
LIABILITIES
Accounts Payable 266,406 - 6,000 272,406
Due to Other Funds 2,829,423 - - 2,829,423
Deposit Payable - - 261,016 261,016
Total Liabilities 3,095,829 - 267,016 3,362,845
Restricted 327,217 - - 327,217
Assigned - - 1,391,622 1,391,622
Unassigned (2,829,368)- - (2,829,368)
Total Fund Balances (2,502,151)- 1,391,622 (1,110,529)
Total Liabilities, Deferred Inflows of
Resources and Fund Balances 593,678 - 1,658,638 2,252,316
Special
Revenue
FUND BALANCES
132
UNITED CITY OF YORKVILLE, ILLINOIS
Nonmajor Governmental Funds
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
For the Fiscal Year Ended April 30, 2022
Debt Capital
Service Projects Totals
Revenues
Taxes $462,322 - - 462,322
Intergovernmental 1,255,645 - 9,590 1,265,235
Licenses, Permits and Fees - 8,950 112,511 121,461
Charges for Services - - 446,035 446,035
Fines and Forfeits - - 7,529 7,529
Grants and Donations 2,712 - - 2,712
Interest Income 1,846 - - 1,846
Miscellaneous - - 323 323
Total Revenues 1,722,525 8,950 575,988 2,307,463
Expenditures
General Government 123,725 - - 123,725
Public Safety - - 466 466
Public Works 128,844 - 67 128,911
Capital Outlay 2,124,801 - 633,652 2,758,453
Debt Service
Principal Retirement 312,455 310,000 55,204 677,659
Interest and Fiscal Charges 103,605 19,375 16,366 139,346
Total Expenditures 2,793,430 329,375 705,755 3,828,560
Excess (Deficiency) of Revenues
Over (Under) Expenditures (1,070,905)(320,425)(129,767)(1,521,097)
Other Financing Sources
Sale of Capital Assets - - 35,598 35,598
Transfers In - 320,425 - 320,425
- 320,425 35,598 356,023
Net Change in Fund Balances (1,070,905)- (94,169)(1,165,074)
Fund Balances - Beginning (1,431,246)- 1,485,791 54,545
Fund Balances - Ending (2,502,151)- 1,391,622 (1,110,529)
Special
Revenue
133
Downtown TIF II Fund
The Downtown TIF II Fund is used to account for revenues and expenditures associated with the development
activities of the downtown area located primarily south of Hydraulic Avenue and just north of Washington
Street, between White Oak Estate to the west and Benjamin Street to the east.
The Sunflower Special Service Fund is used to account for revenues and expenditures associated with the
maintenance of the common areas of the Sunflower Estates subdivision.
NONMAJOR SPECIAL REVENUE FUNDS
Special Revenue Funds are created to account for the proceeds of specific revenue sources (other than fiduciary
funds or capital project funds) that are legally restricted to expenditure for specified purposes.
Fox Hill Special Service Area Fund
The Fox Hill Special Service Area Fund is used to account for the revenues and expenditures associated with
the maintenance of the common areas of the Fox Hill Estates subdivision.
Sunflower Special Service Area Fund
The Countryside TIF Fund is used to account for the accumulation of monies for the payment of the 2014
General Refunding Obligation Bond Series and 2015A General Obligation Refunding Bond Series. These bonds
were issued to refund the 2005 General Obligation Bond Series, which were issued to finance retail
development at Countryside Center.
Downtown TIF Fund
The Downtown TIF I Fund is used to account for revenues and expenditures associated with the development
activities of the downtown area located primarily along Hydraulic Avenue, Illinois Route 47 and Benjamin
Street within Yorkville’s historic commercial core.
Motor Fuel Tax Fund
The Motor Fuel Tax Fund is used to account for allotments of motor fuel taxes from the State of Illinois made
on per capita basis. These taxes are to be used to construct and maintain street, traffic signals and signs.
Land Cash Fund
The Land Cash Fund is used to account for the revenues and expenditures associated with the construction of
park facilities.
Countryside TIF Fund
134
UNITED CITY OF YORKVILLE, ILLINOIS
Nonmajor Governmental - Special Revenue Funds
Combining Balance Sheet
April 30, 2022
See Following Page
135
UNITED CITY OF YORKVILLE, ILLINOIS
Nonmajor Governmental - Special Revenue Funds
Combining Balance Sheet
April 30, 2022
Sunflower
Special
Service
Area
Cash and Investments $21,576 2,386
Receivables - Net of Allowances
Other Taxes - -
Total Assets 21,576 2,386
Accounts Payable - -
Due to Other Funds - -
Total Liabilities - -
Restricted 21,576 2,386
Unassigned - -
Total Fund Balances 21,576 2,386
Total Liabilities and Fund Balances 21,576 2,386
FUND BALANCES
LIABILITIES
Fox Hill
Special
Service
Area
ASSETS
136
Motor
Fuel Land Countryside Downtown Downtown
Tax Cash TIF TIF TIF II Totals
471,899 33,843 143 - - 529,847
63,831 - - - - 63,831
535,730 33,843 143 - - 593,678
266,318 - 88 - - 266,406
- - 1,182,870 1,639,928 6,625 2,829,423
266,318 - 1,182,958 1,639,928 6,625 3,095,829
269,412 33,843 - - - 327,217
- - (1,182,815)(1,639,928)(6,625)(2,829,368)
269,412 33,843 (1,182,815)(1,639,928)(6,625)(2,502,151)
535,730 33,843 143 - - 593,678
137
UNITED CITY OF YORKVILLE, ILLINOIS
Nonmajor Governmental - Special Revenue Funds
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
For the Fiscal Year Ended April 30, 2022
Sunflower
Special
Service
Area
Revenues
Taxes $16,034 20,363
Intergovernmental - -
Grants and Donations - -
Interest Income - -
Total Revenues 16,034 20,363
Expenditures
General Government - -
Public Works 4,689 9,568
Capital Outlay - -
Debt Service
Principal Retirement - -
Interest and Fiscal Charges - -
Total Expenditures 4,689 9,568
Net Change in Fund Balances 11,345 10,795
Fund Balances - Beginning 10,231 (8,409)
Fund Balances - Ending 21,576 2,386
Service
Area
Fox Hill
Special
138
Motor
Fuel Land Countryside Downtown Downtown
Tax Cash TIF TIF TIF II Totals
- - 250,366 96,795 78,764 462,322
1,255,645 - - - - 1,255,645
- 2,712 - - - 2,712
1,846 - - - - 1,846
1,257,491 2,712 250,366 96,795 78,764 1,722,525
- - 11,982 74,223 37,520 123,725
114,587 - - - - 128,844
2,117,313 - - 7,488 - 2,124,801
- - 112,455 200,000 - 312,455
- - 97,522 6,083 - 103,605
2,231,900 - 221,959 287,794 37,520 2,793,430
(974,409)2,712 28,407 (190,999)41,244 (1,070,905)
1,243,821 31,131 (1,211,222)(1,448,929)(47,869)(1,431,246)
269,412 33,843 (1,182,815)(1,639,928)(6,625)(2,502,151)
139
UNITED CITY OF YORKVILLE, ILLINOIS
Fox Hill Special Service Area - Special Revenue Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Revenues
Taxes
Property Tax $19,000 19,000 16,034
Expenditures
Public Works
Outside Repair and Maintenance 59,200 59,200 4,689
Net Change in Fund Balance (40,200)(40,200)11,345
Fund Balance - Beginning 10,231
Fund Balance - Ending 21,576
Budget
Original
140
UNITED CITY OF YORKVILLE, ILLINOIS
Sunflower Special Service Area - Special Revenue Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Revenues
Taxes
Property Tax $21,000 21,000 20,363
Expenditures
Public Works
Pond Maintenance 5,000 5,000 3,267
Outside Repair and Maintenance 12,200 12,200 6,301
Total Expenditures 17,200 17,200 9,568
Net Change in Fund Balance 3,800 3,800 10,795
Fund Balance - Beginning (8,409)
Fund Balance - Ending 2,386
Budget
Original
141
UNITED CITY OF YORKVILLE, ILLINOIS
Motor Fuel Tax - Special Revenue Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Revenues
Intergovernmental $1,258,019 1,258,019 1,255,645
Interest Income 2,000 2,000 1,846
Total Revenues 1,260,019 1,260,019 1,257,491
Expenditures
Public Works
Supplies 138,000 138,000 114,587
Capital Outlay
Streets and Alleys 2,297,413 2,297,413 2,117,313
Total Expenditures 2,435,413 2,435,413 2,231,900
Net Change in Fund Balance (1,175,394)(1,175,394)(974,409)
Fund Balance - Beginning 1,243,821
Fund Balance - Ending 269,412
Budget
Original
142
UNITED CITY OF YORKVILLE, ILLINOIS
Land Cash - Special Revenue Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Revenues
Grants and Donations
White Oak $1,406 1,406 -
Whispering Meadows 4,699 4,699 -
Blackberry Woods Nature Reserve 1,932 1,932 1,705
Caledonia 4,698 4,698 1,007
Country Hills 4,358 4,358 -
Heartland Meadows 3,522 3,522 -
Briarwood 5,145 5,145 -
Total Revenues 25,760 25,760 2,712
Expenditures
Parks and Recreation
Blackberry Creek 5,000 5,000 -
Net Change in Fund Balance 20,760 20,760 2,712
Fund Balance - Beginning 31,131
Fund Balance - Ending 33,843
Budget
Original
143
UNITED CITY OF YORKVILLE, ILLINOIS
Countryside TIF - Special Revenue Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Revenues
Taxes
Property Taxes $260,727 260,727 250,366
Expenditures
General Government
Administrative Fees 11,381 11,381 11,381
Professional Services 2,000 2,000 601
Debt Service
Principal Retirement 112,455 112,455 112,455
Interest and Fiscal Charges 97,561 97,561 97,522
Total Expenditures 223,397 223,397 221,959
Net Change in Fund Balance 37,330 37,330 28,407
Fund Balance - Beginning (1,211,222)
Fund Balance - Ending (1,182,815)
Budget
Original
144
UNITED CITY OF YORKVILLE, ILLINOIS
Downtown TIF - Special Revenue Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Revenues
Taxes
Property Taxes $70,000 70,000 96,795
Expenditures
General Government
Administrative Fees 35,020 35,020 35,020
TIF Incentive Payout 27,820 27,820 36,562
Professional Services 5,000 5,000 2,641
Capital Outlay
Project Costs 10,000 10,000 -
Route 47 Expansion 7,488 7,488 7,488
Debt Service
Principal Retirement 200,000 200,000 200,000
Interest and Fiscal Charges 6,084 6,084 6,083
Total Expenditures 291,412 291,412 287,794
Net Change in Fund Balance (221,412)(221,412)(190,999)
Fund Balance - Beginning (1,448,929)
Fund Balance - Ending (1,639,928)
Budget
Original
145
UNITED CITY OF YORKVILLE, ILLINOIS
Downtown TIF II - Special Revenue Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Revenues
Taxes
Property Taxes $48,526 48,526 78,764
Expenditures
General Government
Professional Services 5,000 5,000 715
TIF Incentive Payout 25,500 36,805 36,805
Total Expenditures 30,500 41,805 37,520
Net Change in Fund Balance 18,026 6,721 41,244
Fund Balance - Beginning (47,869)
Fund Balance - Ending (6,625)
Budget
Original
146
NONMAJOR DEBT SERVICE FUND
The Debt Service Fund is used to account for the accumulation of resources for, and the payment of, general
long-term debt principal and interest.
147
UNITED CITY OF YORKVILLE, ILLINOIS
Debt Service Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Revenues
Licenses, Permits and Fees
Recapture Fees $8,000 8,000 8,950
Expenditures
Debt Service
Principal 310,000 310,000 310,000
Interest and Fiscal Charges 19,375 19,375 19,375
Total Expenditures 329,375 329,375 329,375
Excess (Deficiency) of Revenues
Over (Under) Expenditures (321,375)(321,375)(320,425)
Other Financing Sources
Transfers In 321,375 321,375 320,425
Net Change in Fund Balance - - -
Fund Balance - Beginning -
Fund Balance - Ending -
Budget
Original
148
NONMAJOR CAPITAL PROJECTS FUND
Capital Projects Funds are created to account for all resources used for the acquisition of capital facilities by a
governmental unit except those financed by Proprietary Funds.
Vehicle and Equipment Fund
The Vehicle and Equipment Fund is used to account for financial resources accumulated to purchase vehicles,
equipment and other capital assets for use in the Police, General Government, Public Works and Park and
Recreation departments.
149
UNITED CITY OF YORKVILLE, ILLINOIS
Vehicle and Equipment - Capital Projects Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Revenues
Intergovernmental
Grants $- - 9,590
Licenses, Permits and Fees
Development Fees 99,500 99,500 90,711
Engineering Capital Fee 10,000 10,000 21,800
Charges for Services 396,926 427,926 446,035
Fines and Forfeits
DUI Fines 7,000 7,000 6,649
Electronic Citations 800 800 880
Miscellaneous 1,000 1,000 323
Interest Income 1,000 1,000 -
Total Revenues 516,226 547,226 575,988
Expenditures
Public Safety 8,750 8,750 466
Public Works 1,750 1,750 67
Capital Outlay 1,533,928 1,795,928 633,652
Debt Service
Principal Retirement 55,204 55,204 55,204
Interest and Fiscal Charges 16,366 16,366 16,366
Total Expenditures 1,615,998 1,877,998 705,755
Excess (Deficiency) of Revenues
Over (Under) Expenditures (1,099,772)(1,330,772)(129,767)
Other Financing Sources
Sale of Capital Assets - - 35,598
Net Change in Fund Balance (1,099,772)(1,330,772)(94,169)
Fund Balance - Beginning 1,485,791
Fund Balance - Ending 1,391,622
Budget
Original
150
UNITED CITY OF YORKVILLE, ILLINOIS
Vehicle and Equipment - Capital Projects Fund
Schedule of Expenditures - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Police Capital
Contractual Services $8,750 8,750 466
Capital Outlay
Equipment 50,000 50,000 -
Vehicles 260,000 260,000 120,259
Total Police Capital 318,750 318,750 120,725
General Government Capital
Capital Outlay
Computer Equipment and Software 12,232 12,232 24,088
Vehicles - 31,000 110,395
Total General Government Capital 12,232 43,232 134,483
Public Works Capital
Contractual Services 750 750 67
Supplies 1,000 1,000 -
Capital Outlay
Equipment 15,000 15,000 92,186
Vehicles 680,000 911,000 147,102
Total Public Works Capital 696,750 927,750 239,355
Park and Recreation Capital
Capital Outlay
Outside Repair and Maintenance 1,600 1,600 -
Park Improvements 152,096 152,096 90,890
Equipment 50,000 50,000 48,732
Vehicles 313,000 313,000 -
Total Park and Recreation Capital 516,696 516,696 139,622
Debt Service
Principal Retirement 55,204 55,204 55,204
Interest and Fiscal Charges 16,366 16,366 16,366
Total Debt Service 71,570 71,570 71,570
Total Expenditures 1,615,998 1,877,998 705,755
Budget
Original
151
Water Fund
The Water Fund is used to account for the operation and water infrastructure maintenance of the City-owned
water distribution system,as well as the construction of new water systems. Revenues are generated through
charges based on water consumption and user maintenance fees.
ENTERPRISE FUNDS
Enterprise Funds are used to account for operations that are financed and operated in a manner similar to private
business enterprises where the intent is that costs of providing goods or services to the general public on a
continuing basis be financed or recovered primarily through user charges; or where it has been decided that
periodic determination of revenues earned, expenses incurred, and/or net income is appropriate for capital
maintenance, public policy, management control, accountability, or other purpose.
Sewer Fund
The Sewer Fund is used to account for the operation and sewer infrastructure maintenance of the City-owned
sewer system,as well as the construction of new sewer systems within City limits. Revenues are generated
through user maintenance fees.
152
UNITED CITY OF YORKVILLE, ILLINOIS
Sewer - Enterprise Fund
Schedule of Revenues, Expenses and Changes in Net Position - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Operating Revenues
Charges for Services $1,466,553 1,466,553 1,513,766
Operating Expenses
Operations 2,119,374 2,119,374 660,028
Depreciation and Amortization - - 734,417
Total Operating Expenses 2,119,374 2,119,374 1,394,445
Operating Income (Loss)(652,821)(652,821)119,321
Nonoperating Revenues (Expenses)
Interest Income 1,500 1,500 3,139
Connection Fees 203,300 203,300 200,300
Other Income (Expense)(2,000)(2,000)56,067
Interest Expense (231,530)(231,530)(238,517)
(28,730)(28,730)20,989
Income (Loss) Before Transfers and Contributions (681,551)(681,551)140,310
Capital Contributions - - 229,076
Capital Grants 84,500 84,500 -
Transfers In 519,749 519,749 519,749
Transfers Out (75,675)(75,675)(75,675)
528,574 528,574 673,150
Change in Net Position (152,977)(152,977)813,460
Net Position - Beginning 34,902,097
Net Position - Ending 35,715,557
Budget
Original
153
UNITED CITY OF YORKVILLE, ILLINOIS
Water - Enterprise Fund
Schedule of Revenues, Expenses and Changes in Net Position - Budget and Actual
For the Fiscal Year Ended April 30, 2022
Final Actual
Operating Revenues
Charges for Services $4,413,894 4,413,894 4,661,610
Operating Expenses
Operations 5,863,191 5,863,191 2,246,249
Depreciation and Amortization - - 1,121,240
Total Operating Expenses 5,863,191 5,863,191 3,367,489
Operating Income (Loss)(1,449,297)(1,449,297)1,294,121
Nonoperating Revenues (Expenses)
Interest Income 3,000 3,000 2,031
Unrealized Gain (Loss)- - (29,663)
Connection Fees 230,000 230,000 283,084
Other Income 102,894 102,894 110,494
Interest Expense (218,542)(218,542)(263,012)
117,352 117,352 102,934
Income (Loss) Before Contributions and Transfers (1,331,945)(1,331,945)1,397,055
Capital Contributions - - 111,473
Capital Grants 131,250 131,250 -
Transfers In 180,233 180,233 180,233
311,483 311,483 291,706
Change in Net Position (1,020,462)(1,020,462)1,688,761
Net Position - Beginning 36,427,693
Net Position - Ending 38,116,454
Budget
Original
154
UNITED CITY OF YORKVILLE, ILLINOIS
Consolidated Year-End Financial Report
April 30, 2022
CSFA #Program Name Federal Other Totals
494-00-0967 High-Growth Cities Program $79,463 - - 79,463
494-00-1004 Local Highway Safety Improvement
Program 19,490 - - 19,490
494-00-1488 Motor Fuel Tax Program 2,152,437 - - 2,152,437
Other Grant Programs and Activities - 1,441,667 24,958 1,466,625
All Other Costs Not Allocated - - 22,968,333 22,968,333
Totals 2,251,390 1,441,667 22,993,291 26,686,348
State
155
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON
COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL
STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING
STANDARDS
October 20, 2022
The Honorable City Mayor
Members of the City Council
United City of Yorkville, Illinois
We have audited, in accordance with the auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards
issued by the Comptroller General of the United States, the financial statements of the governmental
activities, the business-type activities, each major fund, and the aggregate remaining fund information of
the United City of Yorkville, Illinois, as of and for the year ended April 30, 2022, and the related notes to
the financial statements, which collectively comprise the City’s basic financial statements, and have issued
our report thereon dated October 20, 2022.
Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the City’s internal control
over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in
the circumstances for the purpose of expressing our opinions on the financial statements, but not for the
purpose of expressing an opinion on the effectiveness of the City’s internal control. According, we do not
express an opinion on the effectiveness of the City’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management
or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements, on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in
internal control, such that there is a reasonable possibility that a material misstatement of the City’s financial
statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a
deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness,
yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any
deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses
or significant deficiencies may exist that were not identified.
156
United City of Yorkville, Illinois
October 20, 2022
Page 2
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City’s financial statements are free from
material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts, and grant agreements, noncompliance with which could have a direct and material effect on the
financial statements. However, providing an opinion on compliance with those provisions was not an
objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed
no instances of noncompliance or other matters that are required to be reported under Government Auditing
Standards.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance
and the results of that testing, and not to provide an opinion on the effectiveness of the City’s internal control
or on compliance. This report is an integral part of an audit performed in accordance with Government
Auditing Standards in considering the City’s internal control and compliance. Accordingly, this
communication is not suitable for any other purpose.
Lauterbach & Amen, LLP
LAUTERBACH & AMEN, LLP
157
SUPPLEMENTAL SCHEDULES
158
UNITED CITY OF YORKVILLE, ILLINOIS
Schedule of Long-Term Debt Requirements
Promissory Note of 2019
April 30, 2022
Date of Issue November 18, 2019
Date of Maturity November 18, 2028
Authorized Issue $548,273
Interest Rate 3.60%
Interest Dates Monthly
Principal Maturity Dates Monthly
Payable at First National Bank of Omaha
Fiscal
Year Interest Totals
2023 $57,253 14,317 71,570
2024 59,347 12,223 71,570
2025 61,581 9,989 71,570
2026 63,867 7,703 71,570
2027 66,237 5,333 71,570
2028 68,691 2,879 71,570
2029 41,246 504 41,750
418,222 52,948 471,170
CURRENT AND LONG-TERM PRINCIPAL AND INTEREST REQUIREMENTS
Requirements
Principal
159
UNITED CITY OF YORKVILLE, ILLINOIS
Schedule of Long-Term Debt Requirements
IEPA (L17-1156300) Loan Payable of 2007
April 30, 2022
Date of Issue November 9, 2006
Date of Maturity August 9, 2026
Authorized Issue $1,889,244
Denomination of Bonds $5,000
Interest Rate 2.50%
Interest Dates August 9 and February 9
Principal Maturity Dates August 9 and February 9
Payable at Illinois Environmental Protection Agency
Fiscal
Year Interest Totals Aug. 9 Amount Feb. 9 Amount
2023 $112,503 12,527 125,030 2022 6,613 2023 5,914
2024 115,333 9,697 125,030 2023 5,207 2024 4,490
2025 118,235 6,795 125,030 2024 3,765 2025 3,030
2026 121,209 3,821 125,030 2025 2,287 2026 1,534
2027 61,744 772 62,516 2026 772 2027 -
529,024 33,612 562,636 18,644 14,968
CURRENT AND LONG-TERM PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
Principal
160
UNITED CITY OF YORKVILLE, ILLINOIS
Schedule of Long-Term Debt Requirements
General Obligation Library Bonds of 2006
April 30, 2022
Date of Issue August 1, 2006
Date of Maturity December 30, 2024
Authorized Issue $1,500,000
Denomination of Bonds $5,000
Interest Rates 4.75% to 4.80%
Interest Dates June 30 and December 30
Principal Maturity Date December 30
Payable at BNY Midwest Trust Company
Fiscal
Year Interest Totals Jun. 30 Amount Dec. 30 Amount
2023 $75,000 13,112 88,112 2022 6,556 2022 6,556
2024 100,000 9,550 109,550 2023 4,775 2023 4,775
2025 100,000 4,800 104,800 2024 2,400 2024 2,400
275,000 27,462 302,462 13,731 13,731
CURRENT AND LONG-TERM PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
Principal
161
UNITED CITY OF YORKVILLE, ILLINOIS
Schedule of Long-Term Debt Requirements
General Obligation Library Refunding Bonds of 2013
April 30, 2022
Date of Issue May 9, 2013
Date of Maturity December 30, 2024
Authorized Issue $6,625,000
Denomination of Bonds $5,000
Interest Rates 2.00% to 4.00%
Interest Dates June 30 and December 30
Principal Maturity Date December 30
Payable at Bank of New York Mellon
Fiscal
Year Interest Totals Jun. 30 Amount Dec. 30 Amount
2023 $675,000 84,200 759,200 2022 42,100 2022 42,100
2024 700,000 57,200 757,200 2023 28,600 2023 28,600
2025 730,000 29,200 759,200 2024 14,600 2024 14,600
2,105,000 170,600 2,275,600 85,300 85,300
CURRENT AND LONG-TERM PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
Principal
162
UNITED CITY OF YORKVILLE, ILLINOIS
Schedule of Long-Term Debt Requirements
General Obligation Refunding Alternate Revenue Source Bonds of 2014
April 30, 2022
Date of Issue January 6, 2014
Date of Maturity December 1, 2029
Authorized Issue $1,235,000
Denomination of Bonds $5,000
Interest Rate 4.00% to 4.30%
Interest Dates June 1 and December 1
Principal Maturity Date December 1
Payable at The Bank of New York Trust Company
Fiscal
Year Interest Totals Jun. 1 Amount Dec. 1 Amount
2023 $- 50,715 50,715 2022 25,357 2022 25,358
2024 - 50,715 50,715 2023 25,357 2023 25,358
2025 - 50,715 50,715 2024 25,357 2024 25,358
2026 230,000 50,715 280,715 2025 25,357 2025 25,358
2027 235,000 41,515 276,515 2026 20,757 2026 20,758
2028 245,000 32,115 277,115 2027 16,057 2027 16,058
2029 255,000 22,193 277,193 2028 11,096 2028 11,097
2030 270,000 11,610 281,610 2029 5,805 2029 5,805
1,235,000 310,293 1,545,293 155,143 155,150
CURRENT AND LONG-TERM PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
Principal
163
UNITED CITY OF YORKVILLE, ILLINOIS
Schedule of Long-Term Debt Requirements
General Obligation Refunding Alternate Revenue Source Bonds of 2014A
April 30, 2022
Date of Issue August 5, 2014
Date of Maturity December 1, 2033
Authorized Issue $4,295,000
Denomination of Bonds $5,000
Interest Rate 3.00% to 4.00%
Interest Dates June 1 and December 1
Principal Maturity Date December 1
Payable at Amalgamated
Fiscal
Year Interest Totals Jun. 1 Amount Dec. 1 Amount
2023 $210,000 109,337 319,337 2022 54,669 2022 54,668
2024 210,000 103,037 313,037 2023 51,519 2023 51,518
2025 220,000 96,737 316,737 2024 48,369 2024 48,368
2026 225,000 90,137 315,137 2025 45,069 2025 45,068
2027 230,000 83,387 313,387 2026 41,694 2026 41,693
2028 245,000 76,200 321,200 2027 38,100 2027 38,100
2029 250,000 66,400 316,400 2028 33,200 2028 33,200
2030 265,000 56,400 321,400 2029 28,200 2029 28,200
2031 275,000 45,800 320,800 2030 22,900 2030 22,900
2032 280,000 34,800 314,800 2031 17,400 2031 17,400
2033 290,000 23,600 313,600 2032 11,800 2032 11,800
2034 300,000 12,000 312,000 2033 6,000 2033 6,000
3,000,000 797,835 3,797,835 398,920 398,915
CURRENT AND LONG-TERM PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
Principal
164
UNITED CITY OF YORKVILLE, ILLINOIS
Schedule of Long-Term Debt Requirements
General Obligation Refunding Alternate Revenue Source Bonds of 2014B
April 30, 2022
Date of Issue August 5, 2014
Date of Maturity December 30, 2022
Authorized Issue $2,300,000
Denomination of Bonds $5,000
Interest Rate 2.00% to 3.00%
Interest Dates June 30 and December 30
Principal Maturity Date December 30
Payable at Amalgamated
Fiscal
Year Interest Totals Jun. 30 Amount Dec. 30 Amount
2023 $320,000 9,600 329,600 2022 4,800 2022 4,800
CURRENT AND LONG-TERM PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
Principal
165
UNITED CITY OF YORKVILLE, ILLINOIS
Schedule of Long-Term Debt Requirements
General Obligation Refunding Alternate Revenue Source Bonds of 2014C
April 30, 2022
Date of Issue August 5, 2014
Date of Maturity December 30, 2024
Authorized Issue $1,290,000
Denomination of Bonds $5,000
Interest Rate 2.00% to 3.00%
Interest Dates June 30 and December 30
Principal Maturity Date December 30
Payable at Amalgamated
Fiscal
Year Interest Totals Jun. 30 Amount Dec. 30 Amount
2023 $135,000 12,300 147,300 2022 6,150 2022 6,150
2024 140,000 8,250 148,250 2023 4,125 2023 4,125
2025 135,000 4,050 139,050 2024 2,025 2024 2,025
410,000 24,600 434,600 12,300 12,300
CURRENT AND LONG-TERM PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
Principal
166
UNITED CITY OF YORKVILLE, ILLINOIS
Schedule of Long-Term Debt Requirements
General Obligation Refunding Alternate Revenue Source Bonds of 2015A
April 30, 2022
Date of Issue July 8, 2015
Date of Maturity December 1, 2034
Authorized Issue $5,575,000
Denomination of Bonds $5,000
Interest Rates 4.00%
Interest Dates June 1 and December 1
Principal Maturity Date December 1
Payable at Amalgamated
Fiscal
Year Interest Totals Jun. 1 Amount Dec. 1 Amount
2023 $440,000 157,400 597,400 2023 78,700 2022 78,700
2024 460,000 139,800 599,800 2024 69,900 2023 69,900
2025 475,000 121,400 596,400 2025 60,700 2024 60,700
2026 215,000 102,400 317,400 2026 51,200 2025 51,200
2027 220,000 93,800 313,800 2027 46,900 2026 46,900
2028 230,000 85,000 315,000 2028 42,500 2027 42,500
2029 240,000 75,800 315,800 2029 37,900 2028 37,900
2030 250,000 66,200 316,200 2030 33,100 2029 33,100
2031 260,000 56,200 316,200 2031 28,100 2030 28,100
2032 270,000 45,800 315,800 2032 22,900 2031 22,900
2033 280,000 35,000 315,000 2033 17,500 2032 17,500
2034 290,000 23,800 313,800 2034 11,900 2033 11,900
2035 305,000 12,200 317,200 2035 6,100 2034 6,100
3,935,000 1,014,800 4,949,800 507,400 507,400
Governmental 1,041,067 268,516 1,309,583 134,258 134,258
Business-Type 2,893,933 746,284 3,640,217 373,142 373,142
3,935,000 1,014,800 4,949,800 507,400 507,400
CURRENT AND LONG-TERM PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
Principal
167
UNITED CITY OF YORKVILLE, ILLINOIS
Schedule of Long-Term Debt Requirements
General Obligation Refunding (Alternate Revenue Source) Bonds of 2016
April 30, 2022
Date of Issue October 27,2016
Date of Maturity December 30, 2022
Authorized Issue $5,800,000
Denomination of Bonds $5,000
Interest Rates 4.00% to 4.25%
Interest Dates June 30 and December 30
Principal Maturity Date December 30
Payable at Amalgamated
Fiscal
Year Interest Totals Jun. 30 Amount Dec. 30 Amount
2023 $915,000 27,450 942,450 2022 13,725 2022 13,725
CURRENT AND LONG-TERM PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
Principal
168
UNITED CITY OF YORKVILLE, ILLINOIS
Schedule of Long-Term Debt Requirements
General Obligation Alternate Revenue Source Bonds of 2021
April 30, 2022
Date of Issue May 27, 2021
Date of Maturity December 30, 2040
Authorized Issue $8,250,000
Denomination of Bonds $5,000
Interest Rate 2.00% to 4.00%
Interest Dates June 30 and December 30
Principal Maturity Date December 30
Payable at Amalgamated
Fiscal
Year Interest Totals Jun. 30 Amount Dec. 30 Amount
2023 $320,000 223,900 543,900 2022 111,950 2022 111,950
2024 330,000 211,100 541,100 2023 105,550 2023 105,550
2025 345,000 197,900 542,900 2024 98,950 2024 98,950
2026 360,000 184,100 544,100 2025 92,050 2025 92,050
2027 375,000 169,700 544,700 2026 84,850 2026 84,850
2028 390,000 154,700 544,700 2027 77,350 2027 77,350
2029 405,000 139,100 544,100 2028 69,550 2028 69,550
2030 420,000 122,900 542,900 2029 61,450 2029 61,450
2031 435,000 106,100 541,100 2030 53,050 2030 53,050
2032 445,000 97,400 542,400 2031 48,700 2031 48,700
2033 455,000 88,500 543,500 2032 44,250 2032 44,250
2034 465,000 79,400 544,400 2033 39,700 2033 39,700
2035 475,000 70,100 545,100 2034 35,050 2034 35,050
2036 480,000 60,600 540,600 2035 30,300 2035 30,300
2037 490,000 51,000 541,000 2036 25,500 2036 25,500
2038 500,000 41,200 541,200 2037 20,600 2037 20,600
2039 510,000 31,200 541,200 2038 15,600 2038 15,600
2040 520,000 21,000 541,000 2039 10,500 2039 10,500
2041 530,000 10,600 540,600 2040 5,300 2040 5,300
8,250,000 2,060,500 10,310,500 1,030,250 1,030,250
CURRENT AND LONG-TERM PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
Principal
169
UNITED CITY OF YORKVILLE, ILLINOIS
Schedule of Long-Term Debt Requirements
General Obligation Refunding Alternate Revenue Source Bonds of 2022
April 30, 2022
Date of Issue January 6, 2022
Date of Maturity December 1, 2025
Authorized Issue $5,170,000
Denomination of Bonds $5,000
Interest Rates 1.142%
Interest Dates June 1 and December 1
Principal Maturity Date December 1
Payable at Amalgamated
Fiscal
Year Interest Totals Jun. 1 Amount Dec. 1 Amount
2023 $1,270,000 58,058 1,328,058 2022 28,537 2022 29,521
2024 1,280,000 44,538 1,324,538 2023 22,269 2023 22,269
2025 1,300,000 29,920 1,329,920 2024 14,960 2024 14,960
2026 1,320,000 15,074 1,335,074 2025 7,537 2025 7,537
5,170,000 147,590 5,317,590 73,303 74,287
Governmental 1,010,000 28,757 1,038,757 14,283 14,475
Business-Type 4,160,000 118,833 4,278,833 59,020 59,812
5,170,000 147,590 5,317,590 73,303 74,287
Principal
CURRENT AND LONG-TERM PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
170
UNITED CITY OF YORKVILLE, ILLINOIS
Schedule of Long-Term Debt Requirements
Illinois Rural Bond Bank Debt Certificates of 2003A
April 30, 2022
Date of Issue September 24, 2003
Date of Maturity February 1, 2023
Authorized Issue $2,035,000
Denomination of Bonds $5,000
Interest Rates 1.60% to 5.20%
Interest Dates August 1 and February 1
Principal Maturity Date February 1
Payable at US National Bank Assoc.
Fiscal
Year Interest Totals Aug. 1 Amount Feb. 1 Amount
2023 $155,000 8,060 163,060 2022 4,030 2023 4,030
CURRENT AND LONG-TERM PRINCIPAL AND INTEREST REQUIREMENTS
Requirements Interest Due on
Principal
171
These schedules contain trend information to help the reader understand how the City’s financial performance
and well-being have changed over time.
STATISTICAL SECTION
(Unaudited)
This part of the comprehensive annual financial report presents detailed information as a context for
understanding what the information in the financial statements, note disclosures, and required supplementary
information says about the City’s overall financial health.
Financial Trends
Operating Information
These schedules contain service and infrastructure data to help the reader understand how the information in the
City’s financial report relates to the services the City provides and the activities it performs.
Revenue Capacity
These schedules contain information to help the reader assess the City’s most significant local revenue sources.
Debt Capacity
These schedules present information to help the reader assess the affordability of the City’s current levels of
outstanding debt and the City’s ability to issue additional debt in the future.
Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader understand the environment
within which the City’s financial activities take place.
172
UNITED CITY OF YORKVILLE, ILLINOIS
Net Position by Component - Last Ten Fiscal Years*
April 30, 2022 (Unaudited)
See Following Page
173
UNITED CITY OF YORKVILLE, ILLINOIS
Net Position by Component - Last Ten Fiscal Years*
April 30, 2022 (Unaudited)
2014 2015 2016
Governmental Activities
Net Investment in Capital Assets $62,000,588 63,873,210 66,706,243 70,624,870
Restricted 3,537,867 1,946,088 2,744,103 3,064,646
Unrestricted 3,341,127 3,566,727 3,328,570 (6,321,934)
Total Governmental
Activities Net Position 68,879,582 69,386,025 72,778,916 67,367,582
Business-Type Activities
Net Investment in Capital Assets 31,719,100 34,717,042 46,482,812 49,232,266
Restricted - - - -
Unrestricted 13,502,177 13,015,100 1,891,407 2,346,622
Total Business-Type
Activities Net Position 45,221,277 47,732,142 48,374,219 51,578,888
Primary Government
Net Investment in Capital Assets 93,719,688 98,590,252 113,189,055 119,857,136
Restricted 3,537,867 1,946,088 2,744,103 3,064,646
Unrestricted 16,843,304 16,581,827 5,219,977 (3,975,312)
Total Primary Government
Net Position 114,100,859 117,118,167 121,153,135 118,946,470
* Accrual Basis of Accounting
Note: The City implemented GASB Statement No. 68 for the year ended April 30, 2016.
2013
174
2017 2018 2019 2020 2021 2022
74,001,408 83,186,083 83,800,089 86,397,801 90,458,186 93,931,218
2,634,940 1,992,274 1,741,515 1,862,586 2,083,335 7,859,306
(6,198,767) (8,300,460) (7,317,467) (8,257,280) (6,122,164) (5,482,448)
70,437,581 76,877,897 78,224,137 80,003,107 86,419,357 96,308,076
53,490,328 57,257,183 58,098,381 55,429,397 58,409,514 60,848,375
- - - - - -
3,158,076 4,884,605 6,235,797 12,763,017 12,920,276 12,983,636
56,648,404 62,141,788 64,334,178 68,192,414 71,329,790 73,832,011
127,491,736 140,443,266 141,898,470 141,827,198 148,867,700 154,779,593
2,634,940 1,992,274 1,741,515 1,862,586 2,083,335 7,859,306
(3,040,691) (3,415,855) (1,081,670) 4,505,737 6,798,112 7,501,188
127,085,985 139,019,685 142,558,315 148,195,521 157,749,147 170,140,087
175
UNITED CITY OF YORKVILLE, ILLINOIS
Changes in Net Position - Last Ten Fiscal Years*
April 30, 2022 (Unaudited)
2014 2015 2016 2017 2018 2019 2020 2021 2022 **
Expenses
Governmental Activities
General Government $3,121,857 5,808,954 4,075,153 4,533,840 4,467,831 3,976,577 5,023,227 6,213,208 5,960,831 4,822,508
Public Safety 3,750,318 918,131 4,393,482 6,073,977 6,053,696 5,689,480 6,008,959 6,526,618 982,014 1,017,179
Community Development 356,689 2,029,523 592,588 649,507 734,317 629,894 869,044 816,350 2,513,280 2,471,380
Public Works 2,983,200 3,874,698 3,140,446 3,955,539 4,450,509 6,236,169 4,124,935 4,874,549 5,733,468 5,893,447
Library 932,748 407,537 930,024 877,154 930,739 941,123 974,154 1,017,437 828,098 1,044,496
Parks and Recreation 1,812,483 3,444,587 2,381,698 2,225,512 2,003,935 2,432,818 2,963,434 2,678,769 5,097,124 5,545,928
Interest on Long-Term Debt 691,551 698,519 611,243 540,506 570,061 536,177 500,169 464,883 409,695 627,947
Total Governmental Activities Expenses 13,648,846 17,181,949 16,124,634 18,856,035 19,211,088 20,442,238 20,463,922 22,591,814 21,524,510 21,422,885
Business-Type Activities
Water 2,638,252 1,595,266 2,792,755 3,257,504 3,251,836 3,271,956 3,256,582 1,762,508 1,740,041 1,632,962
Sewer 1,630,023 2,710,511 1,704,058 1,789,770 1,701,742 1,806,076 1,589,599 3,271,485 3,405,189 3,630,501
Recreation Center 592,707 232,882 - - - - - - - -
Total Business-Type Activities Expenses 4,860,982 4,538,659 4,496,813 5,047,274 4,953,578 5,078,032 4,846,181 5,033,993 5,145,230 5,263,463
Total Primary Government Expenses 18,509,828 21,720,608 20,621,447 23,903,309 24,164,666 25,520,270 25,310,103 27,625,807 26,669,740 26,686,348
Program Revenues
Governmental Activities
Charges for Services
General Government 1,751,309 2,381,788 2,885,990 3,072,590 3,222,388 3,629,476 3,798,007 3,637,639 5,246,355 3,508,715
Public Safety - - - - - - - - - -
Public Works - - - - - - - - - 1,182,864
Library 58,794 74,037 44,522 53,372 71,213 123,156 125,800 129,530 113,930 121,557
Parks and Recreation 265,614 299,478 352,714 408,469 455,675 453,466 579,155 527,941 357,208 549,231
Operating Grants/Contributions 696,058 1,135,659 943,410 774,856 610,480 694,321 854,662 888,037 3,037,020 2,834,644
Capital Grants/Contributions 3,317,256 1,229,829 768,423 3,317,330 3,814,671 6,448,555 1,011,418 3,270,712 1,815,564 1,131,958
Total Governmental Activities
Program Revenues 6,089,031 5,120,791 4,995,059 7,626,617 8,174,427 11,348,974 6,369,042 8,453,859 10,570,077 9,328,969
Business-Type Activities
Charges for Services
Water 2,823,357 2,394,494 2,626,114 3,624,374 4,127,783 4,655,750 4,557,352 4,440,881 1,731,961 1,714,066
Sewer 1,358,420 1,130,954 1,186,389 1,388,258 1,390,806 1,688,339 1,552,159 1,601,247 5,062,645 4,944,694
Recreation 493,617 44,891 - - - - - - - -
Operating Grants/Contributions - - - - - - - - - -
Capital Grants/Contributions 4,829,491 1,658,648 6,805 2,029,848 3,257,187 3,945,565 - 1,994,526 1,124,323 340,549
Total Business-Type Activities
Program Revenues 9,504,885 5,228,987 3,819,308 7,042,480 8,775,776 10,289,654 6,109,511 8,036,654 7,918,929 6,999,309
Total Primary Government
Program Revenues 15,593,916 10,349,778 8,814,367 14,669,097 16,950,203 21,638,628 12,478,553 16,490,513 18,489,006 16,328,278
2013
176
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 **
Net (Expense) Revenue
Governmental Activities $(7,559,815) (12,061,158) (11,129,575) (11,229,418) (11,036,661) (9,093,264) (14,094,880) (14,137,955) (10,954,433) (12,093,916)
Business-Type Activities 4,643,903 690,328 (677,505) 1,995,206 3,822,198 5,211,622 1,263,330 3,002,661 2,773,699 1,735,846
Total Primary Government
Net (Expense) Revenue (2,915,912) (11,370,830) (11,807,080) (9,234,212) (7,214,463) (3,881,642) (12,831,550) (11,135,294) (8,180,734) (10,358,070)
General Revenues and Other Changes in Net Position
Governmental Activities
Taxes
Property 4,743,599 4,670,934 4,850,981 4,901,983 4,899,485 4,925,489 5,041,762 5,195,891 5,248,398 5,544,463
Sales 4,409,926 4,573,026 4,782,712 4,904,967 5,200,763 5,327,756 5,429,231 5,635,945 6,341,989 7,933,942
Income 1,587,324 1,613,102 1,735,422 1,715,155 1,602,410 1,640,291 1,966,699 1,870,977 2,470,986 3,175,556
Utility 1,553,693 1,633,242 1,600,296 1,585,758 1,615,153 1,587,270 1,647,511 1,545,821 1,527,572 1,707,542
Other 922,439 988,822 1,127,859 1,265,439 1,331,191 1,445,549 1,600,502 1,652,074 1,668,294 2,173,425
Development Fees - - - - - - - - - -
Interest Income (Loss)16,368 14,895 (176,911) 9,828 30,481 85,356 154,071 239,155 15,488 (24,510)
Miscellaneous 690,456 737,693 1,736,079 761,857 561,229 705,968 1,494,246 456,998 376,595 2,096,524
Transfers - (1,626,263) (1,133,972) (1,134,654) (1,134,052) (184,099) (921,615) (679,936) (278,639) (624,307)
Total Governmental Activities 13,923,805 12,605,451 14,522,466 14,010,333 14,106,660 15,533,580 16,412,407 15,916,925 17,370,683 21,982,635
Business-Type Activities
Property Taxes 1,883,730 - - - - - - - - -
Interest Income (Loss)9,542 11,491 11,206 6,685 13,623 36,002 28,777 67,934 1,777 (24,493)
Miscellaneous (1,624,872) 182,783 174,404 64,678 99,643 61,661 84,652 107,705 83,261 166,561
Transfers - 1,626,263 1,133,972 1,134,654 1,134,052 184,099 921,615 679,936 278,639 624,307
Total Business-Type Activities 268,400 1,820,537 1,319,582 1,206,017 1,247,318 281,762 1,035,044 855,575 363,677 766,375
Total Primary Government 14,192,205 14,425,988 15,842,048 15,216,350 15,353,978 15,815,342 17,447,451 16,772,500 17,734,360 22,749,010
Changes in Net Position
Governmental Activities 6,363,990 544,293 3,392,891 2,780,915 3,069,999 6,440,316 2,317,527 1,778,970 6,416,250 9,888,719
Business-Type Activities 4,912,303 2,510,865 642,077 3,201,223 5,069,516 5,493,384 2,298,374 3,858,236 3,137,376 2,502,221
Total Primary Government 11,276,293 3,055,158 4,034,968 5,982,138 8,139,515 11,933,700 4,615,901 5,637,206 9,553,626 12,390,940
* Accrual Basis of Accounting
** In 2022, expenses related to non-capital costs in the Citywide Captial Projects Fund were moved from the General Government function to the Public Works function.177
UNITED CITY OF YORKVILLE, ILLINOIS
Fund Balances of Governmental Funds - Last Ten Fiscal Years*
2014 2015 2016
General Fund
Nonspendable $139,985 156,680 145,012 138,312
Restricted - - 984,526 1,216,288
Unassigned 4,083,835 3,703,901 3,696,520 4,337,106
Total General Fund 4,223,820 3,860,581 4,826,058 5,691,706
All Other Governmental Funds
Nonspendable 34,586 34,385 33,284 37,376
Restricted 3,549,913 1,951,407 1,767,419 1,848,358
Committed 305,804 527,635 537,853 480,034
Assigned 504,314 824,301 4,788,775 3,004,149
Unassigned (571,615) (534,087) (624,928) (584,901)
Total All Other Governmental Funds 3,823,002 2,803,641 6,502,403 4,785,016
Total All Governmental Funds 8,046,822 6,664,222 11,328,461 10,476,722
* Modified Accrual Basis of Accounting
April 30, 2022 (Unaudited)
2013
178
2017 2018 2019 2020 2021 2022
150,464 83,305 85,744 63,193 152,003 162,600
984,514 726,019 458,685 203,874 - -
5,079,111 5,687,049 6,335,394 7,244,993 9,020,351 10,464,500
6,214,089 6,496,373 6,879,823 7,512,060 9,172,354 10,627,100
37,664 16,392 18,266 13,515 38,268 51,745
1,650,426 1,266,255 1,282,830 1,658,712 2,083,335 7,859,306
421,586 467,816 435,216 398,488 43,801 -
1,625,937 743,997 1,125,471 1,099,847 1,605,360 6,941,081
(511,528) (1,441,197) (1,260,507) (2,469,332) (2,716,429) (2,871,244)
3,224,085 1,053,263 1,601,276 701,230 1,054,335 11,980,888
9,438,174 7,549,636 8,481,099 8,213,290 10,226,689 22,607,988
179
UNITED CITY OF YORKVILLE, ILLINOIS
Changes in Fund Balances of Governmental Funds - Last Ten Fiscal Years*
2014 2015 2016
Revenues
Taxes $6,767,061 5,176,481 11,830,762 12,103,254
Intergovernmental 7,545,978 9,469,590 3,312,823 3,180,626
Licenses, Permits and Fees 400,718 393,746 379,242 493,619
Charges for Services 1,479,712 2,169,670 2,749,195 2,897,718
Fines and Forfeitures 195,287 191,887 154,789 143,094
Interest Income (Loss)16,368 14,895 (176,911) 9,828
Miscellaneous 690,456 737,693 1,736,079 761,857
Total Revenues 17,095,580 18,153,962 19,985,979 19,589,996
Expenditures
General Government 3,498,104 5,685,541 3,910,635 3,928,055
Public Safety 3,568,665 3,834,655 4,337,573 4,689,129
Community Development 365,188 407,537 592,588 649,507
Public Works 1,841,795 2,207,757 2,361,827 2,460,192
Library 752,373 737,191 748,905 694,441
Parks and Recreation 1,450,824 1,644,065 2,041,792 1,803,333
Capital Outlay 572,022 2,050,456 3,285,489 3,653,071
Debt Service
Principal Retirement 1,025,074 1,099,223 844,112 1,040,880
Interest and Fiscal Charges 663,495 641,673 496,090 604,406
Total Expenditures 13,737,540 18,308,098 18,619,011 19,523,014
Excess (Deficiency) of Revenues
Over (Under) Expenditures 3,358,040 (154,136) 1,366,968 66,982
Other Financing Sources (Uses)
Disposal of Capital Assets 5,200 16,325 - 48,446
Debt Issuance - 8,053,963 6,670,678 1,627,183
Bond Premium/(Discount)- 115,109 119,680 122,288
Payment to Escrow Agent - (7,787,598) (2,359,115) (1,581,984)
Transfers In 1,504,002 2,881,535 1,375,448 1,326,090
Transfers Out (1,504,002) (4,507,798) (2,509,420) (2,460,744)
5,200 (1,228,464) 3,297,271 (918,721)
Net Change in Fund Balances 3,363,240 (1,382,600) 4,664,239 (851,739)
Debt Service as a Percentage
of Noncapital Expenditures 17.159%11.540%9.497%10.293%
* Modified Accrual Basis of Accounting
** In 2022, expenses related to non-capital costs in the Citywide Captial Projects Fund were moved from the General Government function to the Public Works function.
April 30, 2022 (Unaudited)
2013
180
2017 2018 2019 2020 2021 2022**
12,466,013 12,662,678 12,995,856 13,211,204 13,838,886 16,424,479
3,343,533 3,164,026 4,279,863 3,620,336 6,464,863 6,954,683
706,782 1,016,223 1,208,345 1,128,865 1,475,431 1,296,907
2,888,281 3,047,606 3,176,017 3,078,023 4,125,547 3,854,197
154,213 142,269 118,600 88,222 116,515 211,263
30,481 85,356 154,071 239,155 15,488 (24,510)
561,229 705,968 1,494,246 445,275 362,668 2,096,524
20,150,532 20,824,126 23,426,998 21,811,080 26,399,398 30,813,543
4,293,081 5,036,599 4,946,923 5,921,054 7,752,809 5,264,752
4,907,384 5,302,038 5,356,149 5,818,063 5,686,873 6,019,369
734,317 629,894 869,044 816,350 828,098 1,154,892
2,344,878 2,223,750 2,288,047 2,337,032 2,990,739 3,224,616
748,026 758,411 791,441 834,724 799,301 834,944
1,936,083 2,632,896 2,562,757 2,224,304 2,478,660 2,381,042
3,656,703 5,037,740 2,782,137 1,516,238 1,618,216 6,534,677
1,149,185 1,195,669 1,462,304 1,485,368 1,540,392 1,597,659
563,433 514,068 515,118 474,199 426,199 616,595
20,333,090 23,331,065 21,573,920 21,427,332 24,121,287 27,628,546
(182,558) (2,506,939) 1,853,078 383,748 2,278,111 3,184,997
278,062 2,500 - 11,723 13,927 35,598
- 800,000 - 548,273 - 9,260,000
- - - - - 525,011
- - - (531,617) -
1,524,658 2,753,031 2,213,618 2,023,602 3,384,573 8,729,848
(2,658,710) (2,937,130) (3,135,233) (2,703,538) (3,663,212) (9,354,155)
(855,990) 618,401 (921,615) (651,557) (264,712) 9,196,302
(1,038,548) (1,888,538) 931,463 (267,809) 2,013,399 12,381,299
9.793%9.228%10.629%9.769%9.673%10.624%
** In 2022, expenses related to non-capital costs in the Citywide Captial Projects Fund were moved from the General Government function to the Public Works function.
181
UNITED CITY OF YORKVILLE, ILLINOIS
Assessed Value and Actual Value of Taxable Property - Last Ten Fiscal Years
April 30, 2022 (Unaudited)
Tax
Fiscal Levy
Year Year
2013 2012 $332,551,186 $2,568,351 $101,264,981
2014 2013 311,316,069 2,618,131 99,434,012
2015 2014 310,655,449 2,743,283 90,744,145
2016 2015 320,914,471 2,861,401 84,529,087
2017 2016 354,408,067 2,963,511 84,099,111
2018 2017 386,855,913 3,083,218 83,975,023
2019 2018 416,780,620 3,202,140 83,874,064
2020 2019 450,745,939 3,259,791 83,974,878
2021 2020 484,024,398 3,360,133 79,649,698
2022 2021 524,668,429 3,524,082 79,815,145
Data Source: Office of the County Clerk
Note: Property is assess at 33% of actual value.
PropertyPropertyFarm
Residential Commercial
182
Estimated
Actual Value Total
of Taxable Direct Tax
Property Rate
$6,720,962 $17,328 $443,122,808 $1,329,368,424 0.7490
6,656,792 17,328 420,042,332 1,260,126,996 0.7738
12,668,201 17,328 416,828,406 1,250,485,218 0.7581
13,000,039 17,329 421,322,327 1,263,966,981 0.7361
14,944,561 17,328 456,432,578 1,369,297,734 0.6795
15,349,880 17,328 489,281,362 1,467,844,086 0.6471
15,386,433 60,243 519,303,500 1,557,910,500 0.6242
15,509,884 89,004 553,579,496 1,660,738,488 0.6029
15,586,411 75,859 582,696,499 1,748,089,497 0.5880
15,512,284 77,628 623,597,568 1,870,792,704 0.5710
Property ValueProperty
Total
Taxable
AssessedRailroadIndustrial
183
UNITED CITY OF YORKVILLE, ILLINOIS
Principal Property Taxpayers - Current Tax Levy Year and Nine Tax Levy Years Ago
April 30, 2022 (Unaudited)
Percentage Percentage
of Total City of Total City
Taxable Taxable
Assessed Assessed
Taxpayer Rank Value Rank Value
Wrigley Manufacturing Co., LLC $4,666,112 1 0.75%$2,893,422 6 0.65%
Yorkville Marketplace LLC 3,741,270 2 0.60%3,884,596 4 0.88%
Menard, Inc 3,134,222 3 0.50%7,804,600 1 1.76%
Fox River Harmony Housing LLC 2,779,144 4 0.45%
Rainy Properties LLC 2,406,761 5 0.39%
York Meadows LLC 2,286,011 6 0.37%1,686,666 10 0.38%
Cedarhurst of Yorkville Real Estate LLC 2,005,518 7 0.32%
Target Corporation 1,900,000 8 0.30%3,104,272 5 0.70%
Alliance Development Corporation 1,866,429 9 0.30%
Kendall Holdings 1,566,691 10 0.25%
Copley Ventures, Inc.7,338,864 2 1.66%
Cannonball LLC 4,596,172 3 1.04%
Boombah Properties LLC 2,269,648 7 0.51%
Home Depot USA Inc.1,832,215 8 0.41%
Prime Yorkville LLC 1,803,983 9 0.41%
26,352,158 4.23%37,214,438 8.40%
Data Source: Office of the County Clerk
Assessed Assessed
Value Value
2021 Tax Levy 2012 Tax Levy
Taxable Taxable
184
UNITED CITY OF YORKVILLE, ILLINOIS
Direct and Overlapping Property Tax Rates - Last Ten Tax Levy Years
April 30, 2022 (Unaudited)
See Following Page
185
UNITED CITY OF YORKVILLE, ILLINOIS
Direct and Overlapping Property Tax Rates - Last Ten Tax Levy Years
April 30, 2022 (Unaudited)
2012 2013 2014
City Direct Rates
Corporate 0.2354 0.2484 0.2503
Bonds and Interest 0.1097 0.0797 0.0397
IMRF 0.1016 0.1071 0.1080
Police Protection 0.0790 0.0833 0.0840
Police Pension 0.1229 0.1493 0.1694
Audit 0.0068 0.0071 0.0072
Liability Insurance 0.0090 0.0095 0.0096
Social Security 0.0677 0.0714 0.0720
School Crossing Guard 0.0056 0.0060 0.0060
Revenue Recapture - - -
Unemployment Insurance 0.0113 0.0119 0.0120
Total Direct Rates 0.7490 0.7738 0.7581
Overlapping Rates
Kendall County 0.7446 0.8009 0.8085
Kendall County Forest Preserve 0.1495 0.1640 0.1826
Bristol Township 0.3934 0.4239 0.4172
Bristol - Kendall Fire District 0.7356 0.7718 0.8041
Yorkville Community Unit School District #115 6.7561 7.4081 7.7083
Waubonsee Community College District #516 0.5306 0.5691 0.5973
Yorkville Public Library 0.3242 0.3241 0.3299
Total Overlapping Rates 9.6340 10.4619 10.8479
Total Direct and Overlapping Rates 10.3830 11.2357 11.6060
Data Source: Office of the County Clerk
Notes:
(1) Rates are per $100 of Assessed Value.
(2) Representative tax rates for other government units are from Bristol Township
186
2015 2016 2017 2018 2019 2020 2021
0.2380 0.2197 0.2049 0.1931 0.1811 0.1694 0.1579
0.0113 - - - - - -
- - - - - - -
0.2407 0.1999 0.2003 0.1709 0.1562 0.1484 0.1596
0.1959 0.2117 0.1969 0.2140 0.2223 0.2291 0.2141
0.0069 0.0066 0.0061 0.0057 0.0054 0.0052 0.0048
0.0091 0.0088 0.0082 0.0077 0.0072 0.0069 0.0064
0.0342 0.0329 0.0307 0.0289 0.0271 0.0258 0.0241
- - - 0.0039 0.0036 0.0034 0.0032
- - - - - - 0.0009
- - - - - - -
0.7361 0.6795 0.6471 0.6242 0.6029 0.5880 0.5710
0.7909 0.7477 0.7088 0.6728 0.6409 0.6232 0.6016
0.1787 0.1755 0.1752 0.1503 0.1542 0.1582 0.1620
0.3960 0.3408 0.2787 0.2618 0.0952 0.0912 0.1535
0.8077 0.7592 0.7425 0.7300 0.7202 0.7159 0.7050
7.8713 7.5634 7.3444 7.1852 7.0338 6.9567 6.7867
0.5885 0.5601 0.5514 0.5413 0.5273 0.4378 0.4698
0.3287 0.3080 0.2994 0.2892 0.2829 0.2775 0.2678
10.9618 10.4547 10.1004 9.8306 9.4545 9.2605 9.1465
11.6979 11.1342 10.7475 10.4548 10.0574 9.8485 9.7175
187
UNITED CITY OF YORKVILLE, ILLINOIS
Property Tax Levies and Collections - Last Ten Fiscal Years
April 30, 2022 (Unaudited)
Tax
Fiscal Levy Percentage Percentage
Year Year of Levy of Levy
2013 2011*$3,452,742 $3,435,616 99.50%- $3,435,616 99.50%
2014 2012*3,318,990 3,193,672 96.22%- 3,193,672 96.22%
2015 2013*3,250,204 3,234,448 99.52%- 3,234,448 99.52%
2016 2014*3,159,892 3,146,278 99.57%- 3,146,278 99.57%
2017 2015*3,101,185 3,071,484 99.04%- 3,071,484 99.04%
2018 2016 3,101,322 3,093,892 99.76%- 3,093,892 99.76%
2019 2017 3,165,651 3,149,635 99.49%- 3,149,635 99.49%
2020 2018 3,241,457 3,231,926 99.71%- 3,231,926 99.71%
2021 2019 3,337,703 3,327,913 99.71%- 3,327,913 99.71%
2022 2020 3,426,430 3,415,461 99.68%- 3,415,461 99.68%
Data Source: Office of the County Treasurer
*** Information for collections in subsequent years is unavailable.
Note: Property in the City is reassessed each year. Property is assessed at 33% of actual value.
** Includes property taxes collected in the current year that may be attributable to prior years. These
collections, if any, are immaterial as 99% or greater of the current year's tax levy has historically been collected
during the respective fiscal year. Additionally, information to associate any non-current tax collections to a
specific tax levy is not readily available.
Taxes Collected within the Collections
Levied for Fiscal Year of the Levy in Total Collections to Date **
Subsequent
Year Amount Years***Amount
the Fiscal
* The 2011, 2012, 2013, 2014 and 2015 tax levy extended amounts include bonds and interest in the amount
of $723,689, $486,150, $334,816, $165,564 & $47,525, respectively, that were previously abated.
188
UNITED CITY OF YORKVILLE, ILLINOIS
Estimate of Taxable Sales by Category - Last Ten Calendar Years
April 30, 2022 (Unaudited)
See Following Page
189
UNITED CITY OF YORKVILLE, ILLINOIS
Estimate of Taxable Sales by Category - Last Ten Calendar Years
April 30, 2022 (Unaudited)
2013 2014
General Merchandise*$571,210 594,685 593,361
Food 259,509 266,937 289,897
Drinking and Eating Places 279,649 293,131 299,300
Apparel*85,797 88,739 87,834
Furniture & H.H. & Radio 7,727 3,370 2,710
Lumber, Building Hardware 362,987 413,711 446,440
Automobile and Filling Stations 178,282 156,091 146,062
Drugs and Miscellaneous Retail 582,001 597,615 566,665
Agriculture and All Others 64,558 89,359 161,114
Manufacturers 78,346 89,239 90,998
Total 2,470,066 2,592,877 2,684,381
City Direct Sales Tax Rate 1.00%1.00%1.00%
Data Source: Illinois Department of Revenue - Local Tax Allocation Division
Data available for calendar year only.
* Data by category is not available from the State of Illinois for categories with less than four taxpayers.
However, they are included in the totals.
2012
190
2015 2016 2017 2018 2019 2020 2021
608,996 597,618 581,090 596,620 565,194 553,360 672,669
385,034 377,825 417,028 452,298 485,658 522,083 552,205
332,752 376,762 401,725 413,204 429,128 454,292 606,299
95,975 99,354 94,459 99,121 49,305 34,163 65,116
2,597 2,373 1,590 1,902 1,150 891 6,702
470,357 510,521 539,760 558,358 592,844 745,531 802,407
160,717 188,830 187,127 220,232 251,785 295,001 358,029
362,225 506,123 487,129 484,825 527,795 554,512 1,010,887
232,923 135,378 213,964 219,283 239,758 221,374 251,437
102,011 116,723 36,167 30,503 30,270 32,510 45,663
2,753,587 2,911,507 2,960,039 3,076,346 3,172,887 3,413,717 4,371,414
1.00%1.00%1.00%1.00%1.00%1.00%1.00%
191
UNITED CITY OF YORKVILLE, ILLINOIS
Direct and Overlapping Sales Tax Rates - Last Ten Fiscal Years
April 30, 2022 (Unaudited)
Local City County Total
Fiscal State Sales Tax Non-Home Rule County Public Safety Sales Tax
Year Sales Tax to City Sales Tax Sales Tax Property Rate
2013 5.00%1.00%1.00%0.25%1.00%8.25%
2014 5.00%1.00%1.00%0.25%1.00%8.25%
2015 5.00%1.00%1.00%0.25%1.00%8.25%
2016 5.00%1.00%1.00%0.25%1.00%8.25%
2017 5.00%1.00%1.00%0.25%1.00%8.25%
2018 5.00%1.00%1.00%0.25%1.00%8.25%
2019 5.00%1.00%1.00%0.25%1.00%8.25%
2020 5.00%1.00%1.00%0.25%1.00%8.25%
2021 5.00%1.00%1.00%0.25%1.00%8.25%
2022 5.00%1.00%1.00%0.25%1.00%8.25%
Data Source: Illinois Department of Revenue
The above tax rates are for General Merchandise.
192
UNITED CITY OF YORKVILLE, ILLINOIS
Ratios of Outstanding Debt by Type - Last Ten Fiscal Years
April 30, 2022 (Unaudited)
See Following Page
193
UNITED CITY OF YORKVILLE, ILLINOIS
Ratios of Outstanding Debt by Type - Last Ten Fiscal Years
April 30, 2022 (Unaudited)
Fiscal
Year
2013 $13,025,000 $- $855,601 $1,890 $17,905,000
2014 12,520,000 - 940,341 1,890 16,855,000
2015 16,120,000 - 901,907 1,890 15,700,000
2016 15,325,990 - 938,210 1,890 18,555,000
2017 14,252,531 - 820,482 1,890 20,613,544
2018 13,138,403 - 1,500,822 1,890 18,605,065
2019 11,967,952 - 1,170,850 1,890 16,503,368
2020 10,718,207 - 926,655 1,890 13,685,179
2021 9,406,558 - 673,426 1,890 10,841,111
2022 17,781,130 - 418,222 1,890 8,455,165
Note: Details regarding the City's outstanding debt can be found in the notes to the financial statements.
(1) See the Schedule of Demographic and Economic Statistics for personal income and population data.
Governmental Activities Business-Type Activities
Bonds Certificates Bonds
General General
Revenue Source
Commitments
Alternative
Obligation and
Payable
Other Revenue SourceDebt
Obligation and
Alternative
Notes
194
Percentage
of
Personal
Income (1)
$7,465,000 $2,060,997 $1,952,534 $43,266,022 9.25%$2,470
6,680,000 1,880,084 1,919,909 40,797,224 8.70%2,291
5,865,000 1,694,504 1,942,898 42,226,199 8.72%2,325
5,220,000 1,504,138 2,000,619 43,545,847 8.38%2,360
1,230,000 1,308,862 2,061,951 40,289,260 7.61%2,139
1,010,000 1,108,550 2,126,965 37,491,695 6.95%1,971
580,000 903,070 2,194,902 33,322,032 5.82%1,656
445,000 745,816 2,272,473 28,795,220 4.75%1,397
305,000 638,766 5,169,097 27,035,848 4.25%1,256
155,000 529,024 5,288,402 32,628,833 4.95%1,515
Business-Type Activities
Other Per
Capita (1)
Debt Primary
GovernmentCertificatesCommitmentsPayable
Total
Loans
IEPA
195
UNITED CITY OF YORKVILLE, ILLINOIS
April 30, 2022 (Unaudited)
Percentage of
Total Taxable
Assessed
Fiscal Value of
Year Property (1)
2013 $30,930,000 $57,844 $30,872,156 6.97%$1,762
2014 29,375,000 - 29,375,000 6.99%1,650
2015 31,820,000 - 31,820,000 7.63%1,752
2016 33,880,990 - 33,880,990 8.04%1,836
2017 34,866,075 - 34,866,075 7.64%1,851
2018 31,743,468 - 31,743,468 6.49%1,669
2019 28,471,320 - 28,471,320 5.48%1,415
2020 24,403,386 - 24,403,386 4.41%1,184
2021 20,247,669 - 20,247,669 3.47%940
2022 26,236,295 - 26,236,295 4.21%1,218
Note: Details regarding the City's outstanding debt can be found in the notes to the financial statements.
(1) See the Schedule of Assessed Value and Actual Value of Taxable Property for property value data.
(2) See the Schedule of Demographic and Economic Statistics for personal income and population data.
Ratios of General Bonded Debt Outstanding - Last Ten Fiscal Years
General
Obligation and
Alternative
Bonds Total
Per
Capita (2)
Less: Amounts
Debt Service
Available in Revenue Source
196
UNITED CITY OF YORKVILLE, ILLINOIS
Schedule of Direct and Overlapping Governmental Activities Debt
(2)
Percentage of (3)
Debt
(1)Applicable
Governmental Unit to City *
United City of Yorkville $18,201,242 100.000%$18,201,242
Overlapping Debt
County of Kendall (4)18,435,000 16.49%3,039,932
Forest Preserve District of Kendall County 26,925,000 16.49%4,439,933
Yorkville Community Unit School District #115 55,725,000 59.81%33,329,123
Waubonsee Community College District #516 34,555,000 5.61%1,938,536
Joliet Junior College District #525 117,255,000 0.00%2,111
Plano Community Unit School District #88 36,060,000 0.56%201,936
Newark Community Consolidated School District #66 765,000 0.47%3,596
Total Overlapping Debt 289,720,000 42,955,164
Total Direct and Overlapping Debt 307,921,242 61,156,406
Data Source: Kendall County Tax Extension Department
* Determined by ratio of assessed valuation of property subject to taxation in the City to valuation of
property subject to taxation in overlapping unit.
Notes:
(1) As of May 16, 2022.
(2) Percentages are based on 2021 EAV's, the latest available.
(3) The United City of Yorkville has $63,321,968 in outstanding non-committal debt which
is expected to be paid from sources other than City revenues.
(4) Includes Public Building Commission.
Share of
Gross Debt Debt
April 30, 2022 (Unaudited)
City's
197
UNITED CITY OF YORKVILLE, ILLINOIS
Schedule of Legal Debt Margin - Last Ten Fiscal Years
2014 2015 2016
Legal Debt Limit $38,219,342 36,228,651 35,951,450 36,339,051
Total Net Debt Applicable to Limit 22,945,000 19,290,000 14,855,000 13,420,000
Legal Debt Margin 15,274,342 16,938,651 21,096,450 22,919,051
Total Net Debt Applicable to the
Limit as a Percentage of Debt Limit 60.04%53.25%41.32%36.93%
April 30, 2022 (Unaudited)
2013
198
2017 2018 2019 2019 2021 2022
39,367,310 42,200,517 44,789,927 47,746,232 50,257,573 53,785,290
6,835,000 6,045,000 5,000,000 4,230,000 3,405,000 2,535,000
32,532,310 36,155,517 39,789,927 43,516,232 46,852,573 51,250,290
17.36%14.32%11.16%8.86%6.78%4.71%
Assessed Value $623,597,568
Bonded Debt Limit - 8.625% of
Assessed Value 53,785,290
Amount of Debt Applicable to Limit 2,535,000
Legal Debt Margin 51,250,290
Legal Debt Margin Calculation for Fiscal Year 2022
199
UNITED CITY OF YORKVILLE, ILLINOIS
Governmental Activities
Fiscal
Year Coverage
2013 $364,742 $- $402,932 $2,490,503 $3,258,177 $460,000 $249,609 4.59
2014 315,790 - - 2,586,460 2,902,250 400,000 230,917 4.60
2015 327,984 418,509 - 2,704,651 3,451,144 225,000 56,789 12.25
2016 164,852 393,680 - 2,778,116 3,336,648 255,000 53,550 10.81
2017 215,360 359,947 - 2,940,976 3,516,283 270,000 50,150 10.98
2018 198,294 334,595 - 3,002,133 3,535,022 275,000 44,750 11.06
2019 198,918 329,742 - 3,070,663 3,599,323 285,000 39,250 11.10
2020 279,643 971,440 - 3,222,256 4,473,339 290,000 34,025 13.81
2021 222,099 1,010,210 - 3,617,361 4,849,670 295,000 28,225 15.00
2022 347,161 1,209,606 - 4,450,012 6,006,779 310,000 19,375 18.24
Notes:
Details regarding the City's outstanding debt can be found in the Notes to the Financial Statements.
Series 2014, 2014A and 2015A Bonds are payable from revenues from Sales Taxes and incremental taxes,
if any, from the Countryside TIF. Series 2014B Bonds are payable from Utility Taxes.
Tax Tax Tax Principal InterestTaxRevenue
Utility Fuel Sales
Pledged-Revenue Coverage - Last Ten Fiscal Years
Property/Municipal
Debt Service
Motor
Property
Municipal Net
Available
April 30, 2022 (Unaudited)
Incremental
200
UNITED CITY OF YORKVILLE, ILLINOIS
Business-Type Activities
Fiscal
Year Coverage
2013 $4,432,710 $2,895,830 $1,587,324 $1,919,423 $3,124,204 $270,000 $769,100 3.01
2014 3,379,454 1,695,780 1,613,102 1,986,566 5,283,342 1,050,000 759,986 2.92
2015 3,646,020 1,929,555 1,735,422 2,078,061 5,529,948 1,175,000 704,410 2.94
2016 4,493,694 2,386,468 1,715,155 2,126,851 5,949,232 1,245,000 624,002 3.18
2017 4,364,434 2,366,493 1,602,410 2,259,787 5,860,138 1,290,000 592,364 3.11
2018 5,642,966 2,570,417 1,640,291 2,325,623 7,038,463 1,878,991 831,200 2.60
2019 5,571,153 2,331,257 1,966,699 2,358,568 7,565,163 1,982,668 719,080 2.80
2020 5,500,876 2,570,624 1,870,977 2,413,689 7,214,918 2,730,483 602,768 2.16
2021 5,798,153 2,669,714 2,470,986 2,724,628 8,324,053 2,787,837 492,459 2.54
2022 6,175,376 2,906,277 3,175,556 3,483,930 9,928,585 6,512,545 457,580 1.42
Notes:
Details regarding the City's outstanding debt can be found in the notes to the financial statements.
Water and Sewer revenues exclude capital contributions and developer donations. Operating expenses do not
include depreciation or amortization expenses.
Sales Tax
State
Income
April 30, 2022 (Unaudited)
Sewer
Revenues
Water and
Operating
Pledged-Revenue Coverage - Last Ten Fiscal Years
Principal Interest
Less:
Debt Service
Net
Available
Revenue Expenses
Rule
Tax
Non-Home
201
UNITED CITY OF YORKVILLE, ILLINOIS
School
Calendar Population Median Enrollment Unemployment
Year (1)Age (1)(2)Rate (3)
2012 17,518 $467,491,704 $49,110 32.9 5,474 5.20%
2013 17,804 468,864,947 49,123 31.1 5,630 8.20%
2014 18,161 484,322,292 50,690 31.6 5,786 6.40%
2015 18,451 519,692,602 54,516 31.6 5,801 4.80%
2016 18,833 529,121,652 55,621 32.3 5,980 5.20%
2017 19,022 539,704,085 58,331 32.3 6,026 4.50%
2018 20,119 572,600,072 61,642 33.7 6,233 3.50%
2019 20,613 605,818,372 64,079 33.7 6,319 3.40%
2020 21,533 636,555,184 67,671 33.3 6,245 8.50%
2021 21,533 658,834,615 70,039 32.7 6,266 5.30%
Data Source:
(1) U.S. Census Buerau
(2) Data provided by School District Administrative Offices
(3) Illinois Department of Employment Security, Economic Information and Analysis
(4) U.S. Bureau of Economic Analysis: Chicago-Naperville-Elgin Metropolitan Statistical Area
Income (4)
Demographic and Economic Statistics - Last Ten Calendar Years
Personal
Income (4)
Per
Capita
Personal
April 30, 2022 (Unaudited)
202
UNITED CITY OF YORKVILLE, ILLINOIS
Principal Employers - Current Calendar Year and Nine Calendar Years Ago
Percentage Percentage
of Total of Total
City City
Employer Rank Employment Rank Employment
Raging Waves (Seasonal)400 1 1.86%450 1 2.57%
Wrigley Manufacturing Co.400 1 1.86%335 2 1.91%
Super Target 265 2 1.23%180 3 1.03%
Jewel/Osco 198 3 0.92%130 5 0.74%
Menards Mega Store 157 4 0.73%140 4 0.80%
Newlywed Foods 134 5 0.62%130 5 0.74%
Home Depot 125 6 0.58%85 8 0.49%
Boombah, Inc 99 7 0.46%90 7 0.51%
Wheatland Title 93 8 0.43%65 9 0.37%
Hillside Health Care Center 80 9 0.37%90 7 0.51%
Aurora Speciality Textiles 75 10 0.35%
Kohl's 115 6 0.66%
2,026 9.41%1,810 10.33%
Data Source: City Records and Illinois Manufacturers Directory.
April 30, 2022 (Unaudited)
Employees Employees
2021 Calendar Year 2012 Calendar Year
203
UNITED CITY OF YORKVILLE, ILLINOIS
Full-Time and Part-Time Government Employees by Function - Last Ten Fiscal Years
2013 2014 2015
Full Time
General Government
Administration 4.0 4.0 4.0
Finance 4.0 4.0 4.0
Community Development 3.0 4.0 4.0
Public Safety
Police
Officers 26.0 28.0 29.0
Civilians 2.0 3.0 3.0
Public Works
Streets 5.3 5.3 5.3
Water 5.3 5.3 5.3
Sewer 3.3 3.3 3.3
Parks & Recreation
Parks 8.5 8.5 8.5
Recreation 5.5 4.5 5.5
Library 5.0 5.0 4.0
Part Time
General Government
Administration 1.0 1.0 -
Community Development 2.0 1.0 1.0
Public Safety
Police
Officers 6.0 5.0 6.0
Civilians 9.0 10.0 9.0
Public Works
Streets - - 1.0
Water - - 2.0
Sewer - - -
Parks & Recreation
Parks 4.0 4.0 7.0
Recreation 16.0 3.0 23.0
Library 26.0 25.0 31.0
Total 135.9 123.9 155.9
Data Source: City Human Resource Department
April 30, 2022 (Unaudited)
204
2016 2017 2018 2019 2020 2021 2022
4.0 4.0 5.5 5.5 5.5 5.5 4.5
4.0 4.0 4.0 4.0 4.0 4.0 4.0
4.0 4.0 5.0 6.0 6.0 6.0 7.0
29.0 29.0 30.0 27.0 31.0 32.0 32.0
3.0 3.0 3.0 3.0 3.0 3.0 3.0
5.3 5.3 5.3 5.3 5.3 5.3 7.3
5.3 5.3 5.3 4.3 5.8 5.8 5.8
3.3 3.3 3.3 2.3 3.8 3.8 1.0
3.8
6.5 7.5 7.5 8.5 7.5 7.5 9.5
5.5 5.5 6.0 6.0 6.0 5.0 5.0
4.0 4.0 4.0 5.0 5.0 4.0 4.0
1.0 1.0 - - - - -
1.0 3.0 2.0 - - - -
5.0 5.0 4.0 3.0 3.0 1.0 1.0
9.0 8.0 9.0 8.0 10.0 3.0 7.0
1.0 1.0 3.0 - 3.0 - -
2.0 1.0 - - 1.0 - -
- - - - 1.0 - -
7.0 7.0 7.0 6.0 6.0 1.0 6.0
32.0 35.0 33.0 33.0 48.0 17.0 48.0
27.0 28.0 24.0 23.0 32.0 22.0 29.0
159.0 163.9 160.9 150.0 187.0 126.0 178.0
205
UNITED CITY OF YORKVILLE, ILLINOIS
Operating Indicators by Function/Program - Last Ten Fiscal Years
2013 2014 2015 2016
Police
Arrests Made 547 390 503 466
Parking Violations 846 628 515 655
Traffic Violations 4,287 1,097 987 1,252
Reports Taken 1,813 1,840 1,788 1,911
Calls for Service 11,860 11,633 12,458 13,727
Community Development
Permits Issued 593 576 577 681
Public Works
Street Resurfacing (Miles)- 1.69 0.65 2.12
Snow and Ice Control (Tons of Salt)1,081 1,349 1,509 1,490
Pothole Repairs (Tons of Asphalt)336 252 442 610
Water
Number of Accounts 6,189 6,135 6,361 6,465
Total Annual Consumption (Cubic Feet)66,241,600 62,743,823 59,385,852 61,736,969
Average Daily Consumption (Cubic Feet)181,484 171,901 162,701 169,142
*Police information is presented on a calendar year basis. Operating indicators for 2022 are thru May.
Data Source: Various City Departments
April 30, 2022 (Unaudited)
206
2017 2018 2019 2020 2021 2022
602 619 665 401 502 201 *
426 274 170 56 49 45 *
881 1,022 604 6,053 6,050 2,929 *
1,916 2,045 2,022 2,251 2,504 921 *
11,953 12,047 13,043 12,449 13,450 5,752 *
871 1,003 980 2,247 1,975 1,519
6.01 7.51 4.39 3.05 2.35 7.87
1,285 1,748 1,730 1,130 1,786 1,885
511 218 212 202 31 33
6,644 6,805 7,038 7,265 7,492 7,913
64,208,149 68,062,433 68,173,114 66,979,711 73,117,169 77,527,954
175,913 186,472 186,776 183,506 200,321 212,405
207
UNITED CITY OF YORKVILLE, ILLINOIS
Capital Asset Statistics by Function/Program - Last Ten Fiscal Years
2013 2014 2015
Public Safety
Police
Stations 1 1 1
Patrol Units 20 20 22
Public Works
Streets (Miles)82 83 84
Traffic Signals 26 26 26
Storm Sewers (Miles)80 83 83
Water
Water Mains (Miles)67 68 68
Fire Hydrants 1,327 1,349 1,349
Sewer
Sanitary Sewers (Miles)59 60 60
Lift Stations 7 7 7
Data Source: Various City Departments
April 30, 2022 (Unaudited)
208
2016 2017 2018 2019 2020 2021 2022
1 1 1 1 1 1 1
20 20 22 21 20 22 23
88 90 95 95 138 140 140
26 26 26 26 26 26 26
90 96 106 106 136 140 141
72 77 85 85 134 137 138
1,415 1,515 1,645 1,647 1,929 1,972 1,981
64 68 74 74 115 117 118
7 7 7 7 7 7 7
209
UNITED CITY OF YORKVILLE, ILLINOIS
New Permits and Construction Values - Last Ten Fiscal Years
Fiscal Permits Permits Permits Permits
Year Issued Issued Issued Issued
2013 9 $3,149,000 83 $12,287,740 - $- 92 $15,436,740
2014 11 3,215,000 73 11,451,799 - - 84 14,666,799
2015 10 38,279,500 72 13,063,555 - - 82 51,343,055
2016 6 1,060,000 98 16,451,049 - - 104 17,511,049
2017 6 2,361,795 159 28,818,289 - - 165 31,180,084
2018 10 25,292,000 165 28,598,202 48 2,640,000 223 56,530,202
2019 8 3,626,350 217 34,439,272 5 324,254 230 38,389,876
2020 11 3,992,100 139 20,410,448 34 3,813,608 184 28,216,156
2021 8 1,044,324 272 41,739,549 118 13,588,257 398 56,372,130
2022 7 3,016,607 210 34,888,478 148 18,461,906 365 56,366,991
Data Source: City Records
Construction
Value
Construction
Value
Construction
Value
Construction
Value
Residential Construction
Multi-Family Total
April 30, 2022 (Unaudited)
Commercial
Construction
Residential Construction
Single-Family
210
United City of Yorkville
Audit Overview –Fiscal Year 2022
City Council
October 25, 2022
Another award
11th time
Certificate of Achievement for
Excellence in Financial Reporting Award
by the Government Finance Officers Association
of the US and Canada in FY 21
General Fund
Fund Balance History
-2
0
2
4
6
8
10
12
Millions% Fund Balance 41% 28% 37% 42% 43% 43% 47% 51% 49%
% Fund Balance -Adjusted 36% 24% 32% 38% 40% 34% 32% 36% 36%
General Fund Budget
Surplus(Deficit)
($3)
($2)
($1)
$0
$1
$2
$3
$4
MillionsFund Close
Out Transfers
Revenue Line-Item Budgeted Amount Actual Amount
Property Tax $3,426,246 $3,415,461
Sales Tax (local)$3,582,508 $4,450,012
Sales Tax (non-home rule)$2,649,473 $3,483,930
Utility Tax $993,340 $1,209,606
Income Tax $2,336,774 $3,175,556
Use Tax $937,660 $798,764
Hotel Tax $80,000 $138,415
Video Gaming Tax $140,000 $252,890
Excise (i.e.,Telecom)Tax $209,000 $199,888
Cable TV Franchise Tax $300,000 $298,048
Revenue performance
Page 112 of paper copy (page 119 of pdf copy)
Department Budgeted Expenses Actual Expenses
Administration $996,443 $822,343
Finance $557,390 $536,226
Police $6,158,904 $6,018,903
Community Development $990,515 $1,154,892
PW -Streets & Sanitation $2,649,285 $2,572,571
Admin Services $3,739,308 $3,782,458
Library Operations $943,018 $834,944
Parks $1,402,523 $1,300,338
Recreation $1,398,535 $1,080,704
Sewer Operations $2,352,904 $2,127,378
Water Operations $6,081,733 $5,316,323
Controlling costs
Pages 114 of paper copy (page 121 of pdf copy) -General Fund
Page 122 (129 pdf) -Library / Pages 125-126 (132-133 pdf) -Parks & Rec
Page 153 (160 pdf) for Sewer / Page 154 (161 pdf) for Water
General Fund Performance
Budgeted Actual Variance
Revenues 18,065,270 23,117,947 5,052,677
Expenditures (15,091,845)(14,887,393)(204,452)
Net Transfers (2,973,425)(6,775,808)3,802,383
Surplus(Deficit)-0-1,454,746 1,454,746
Items of Note
Fund balance categories and amounts
Paper pages 77-78 (pdf pages 84-85)
Pensions and OPEB(notes & add’l info)
Paper page 82-106 (pdf pages 89-113)
Illinois Municipal Retirement Fund
(IMRF) –pages 98/101-102(pdf 105/108-109)
Total Pension Liability
Increased by $0.95M
From $15.9M to $16.8M
Net Position
Increased by $2.5M
From $16.2M to $18.7M
Percent Funded
Dec 2017: 99.46%
Dec 2018: 84.59%
Dec 2019: 92.82%
Dec 2020: 101.96%
Dec 2021: 111.05%
Fiscal Year Actuarial Determined
Contribution
Actual
Contribution
Excess (Deficit)Covered Payroll Contribution as
% of Covered
Payroll
2016 $311,346 $311,346 -$2,853,781 10.91%
2017 308,134 308,134 -2,898,722 10.63%
2018 344,487 344,487 -3,217,682 10.71%
2019 350,666 350,666 -3,506,685 10.00%
2020 365,540 365,540 -3,665,848 9.97%
2021 440,315 440,315 -4,060,573 10.84%
2022 428,230 428,230 -4,128,183 10.37%
Police Pension Fund
pages 99/103-104 (pdf 106/110-111)
Total Pension Liability
Increased by $2.0M
From $25.0M to $27.0M
Net Position
Decreased by $93,002
From $14.6M to $14.5M
Percent Funded
Apr 2018: 45.55%
Apr 2019: 47.07%
Apr 2020: 46.17%
Apr 2021: 58.24%
Apr 2022: 53.56%
Fiscal Year Actuarial
Determined
Contribution
Actual
Contribution
Excess (Deficit)Covered Payroll Contribution as
% of Covered
Payroll
2015 $571,437 $624,168 $52,731 $2,220,146 28.11%
2016 722,940 722,940 -2,294,948 31.50%
2017 825,413 825,413 -2,320,642 35.57%
2018 966,211 966,211 -2,543,266 37.99%
2019 963,361 963,361 -2,449,210 39.33%
2020 1,111,484 1,111,484 -2,631,165 42.24%
2021 1,226,371 1,230,604 4,233 2,744,017 44.85%
2022 1,334,771 1,334,771 -2,694,486 49.54%
Items of note
Long term debt summary on paper
pages 68-76 (pdf pages 75-83)
Debt service schedules on paper pages
159-171 (pdf pages 166-178)
Developer commitment narratives
start on paper page 79 (pdf page 86)
Other items of note
Statistical Section
Pages 172 -210 (pdf pages 179-217)
Historical Trends covering:
City financial trends
Revenue & debt capacity
Demographic & economic information
Operating information
Other items of note
Statistical Section
Paper pages 204-205 (pdf pages 211-212) employee counts
87 full-time employees in 2022
96 full-time employees in 2008
86 full-time employees in 2010
Paper pages 206-210 (pdf pages 213-217) miscellaneous service data
Traffic violations
Permits issued
Streets resurfaced, in miles
Street inventory
New housing starts per year
Management Letter
Recommendations
Funds with deficit equity (prior year)
Countryside & Downtown TIF’s
Over time development in the TIF Districts
should yield sufficient surpluses to
eliminate negative equity position.
Implementation of GASB 87 (new)
Accounting for Leases –effective
4/30/2023
Upcoming
2022 Tax Levy discussion
Tax levy estimate approval
October 11th City Council meeting
Public Hearing
November 8th City Council meeting
Discussion and potential vote
November 22nd or December 13th
Upcoming
FY 24 Budget rollout
Nov 22-Jan 23 staff planning discussions
Feb 23 budget finalized
Feb 23 City Council presentation
March 23 public hearing
Discussion and potential vote
March 28, 2023 City Council or
April 11, 2023 City Council or
April 25, 2023 City Council