Village Of Schaumburg Cafr 2009 Searchable Pdf

VILLAGE OF SCHAUMBURG, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT For the Year Ended April 30, 2009

Prepared by: Department of Finance Douglas R. Ellsworth, Director of Finance

VILLAGE OF SCHAUMBURG, ILLINOIS TABLE OF CONTENTS Page(s)

INTRODUCTORY SECTION Officers and Officials Organization Chart

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Certificate of Achievement for Excellence in Financial Reporting

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Letter of Transmittal

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FINANCIAL SECTION Independent Auditors' Report

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Management's Discussion and Analysis

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Basic Financial Statements Government-Wide Financial Statements Statement of Net Assets Statement of Activities ... ... ... .. .... ... ...... ... ...... ... . .. ... .... .. ... . ..... .. . ....... ....

16 17-18

Fund Financial Statements Governmental Funds Balance Sheet Reconciliation of Fund Balances of Governmental Funds to the Governmental Activities in the Statement of Net Assets Statement of Revenues, Expenditures and Changes in Fund Balances Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances to the Governmental Activities in the Statement of Activities

Notes to Financial Statements

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21 22-23

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Proprietary Funds Statement of Net Assets Statement of Revenues, Expenses and Changes in Net Assets Statement of Cash Flows Fiduciary Funds Statement of Fiduciary Net Assets Statement of Changes in Fiduciary Net Assets - Pension Trust Funds

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25-26 27-28 29-30

31 32 33-71

VILLAGE OF SCHAUMBURG, ILLINOIS TABLE OF CONTENTS Page(s)

FINANCIAL SECTION (Continued) Required Supplementary Information Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual General Fund ... ....... .... . ... ... ... ... ... ...... ... ... ... ... ... ...... ... ....... .. ... ... ... ... ..... Schedule of Funding Progress Illinois Municipal Retirement Fund ... ... ... ...... .. . ... ... ... ... ... ... ... ... ... ... .... .... Police Pension Fund Firefighters' Pension Fund Other Postemployment Benefit Plan Schedule of Employer Contributions Illinois Municipal Retirement Fund ... ... .. ... ... ... ..... ... . ..... . ..... . .... .. ... ..... Police Pension Fund Firefighters' Pension Fund Other Postemployment Benefit Plan ... ... ... .. ... ... ... ... ... ... ... ... ... ... ... ... Notes to Required Supplementary Information

72 73 74 75 76 77 78 79 80 81-82

Combining and Individual Fund Financial Statements and Schedules Nonmajor Governmental Funds Combining Balance Sheet ... ... ... ... ... ... ...... ... .. .... ...... . .. ..... . .... ..... .. . ........ .. Combining Statement of Revenues, Expenditures .. .. .. .. .. .. .. .. ... ... .. .. .. .. .. .. .. .. .. .. .. . .. .. .. .. .. .. .. and Changes in Fund Balances Nonmajor Special Revenue Funds Combining Balance Sheet ... ... ... ... ...... .. .... ... ... .. .... ... .. . ...... ... ...... ... ...... Combining Statement of Revenues, Expenditures and Changes in Fund Balances ... ... ... ... ...... .. .... ... ... ...... ... .. . ...... ... .. .... ... ...... Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Motor Fuel Tax Fund .. . .. . ... .. .. .. .. .. .. .. .. .. .. .. .. .. .. ... .. .. . .. . .. .. .. .. . .. . .. .... Schaumburg Transit Program Fund . ... .. ... ...... ... ... ... ... .. ...... . ... ... ....... Community Development Block Grant Fund Development Contribution Fund ... ... ... .. .. .. .. . .. . ... .. . . ... .. ... .. . .. . .. . .. Justice Assistance Grant Fund Medical Facility Fund

83 84

85 86

87 88-89 90 91 92 93

VILLAGE OF SCHAUMBURG, ILLINOIS TABLE OF CONTENTS Page(s)

FINANCIAL SECTION (Continued) Nonmajor Governmental Funds (Continued) Nonmajor Debt Service Funds Combining Balance Sheet Combining Statement of Revenues, Expenditures and Changes in Fund Balances Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual General Obligation Capital Improvement Bonds, Series 2002A General Obligation Refunding Bonds, Series 2002B General Obligation Bonds, Series 2004A General Obligation Bonds, Series 2004B General Obligation Bonds, Series 2005A General Obligation Bonds, Series 2005B General Obligation Note Fund of 1991 Nonmajor Capital Projects Funds Combining Balance Sheet Combining Statement of Revenues, Expenditures and Changes in Fund Balances Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Facilities Fund Special Assessment #3 - Construction Fund 2005A Capital Improvement Project Fund Nonmajor Enterprise Funds Combining Balance Sheet Combining Statement of Revenues, Expenses and Changes in Net Assets Combining Statement of Cash Flows Internal Service Funds Combining Statement of Net Assets Combining Statement of Revenues, Expenses and Changes in Net Assets Combining Statement of Cash Flows Schedule of Revenues, Expenses and Changes in Net Assets - Budget and Actual Vehicle Replacement Fund Technology Replacement Fund Building Replacement Fund Risk Management Fund

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100 101 102

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105 106 107

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108 109 110-111

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112 113 114-115

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116 117 118 119

VILLAGE OF SCHAUMBURG, ILLINOIS TABLE OF CONTENTS Page(s)

FINANCIAL SECTION (Continued) Fiduciary Funds Agency Funds Combining Balance Sheet - Agency Funds Combining Statement of Changes in Assets and Liabilities Agency Funds

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120

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121-124

Supplemental Data Schedule of Revenues - Budget and Actual - General Fund Schedule of Expenditures - Budget and Actual - General Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Olde Schaumburg Centre Special Allocation Fund Capital Improvements Fund 2008 Project Fund Waterworks and Sewerage Fund Schedule of Operating Revenues - Budget and Actual Schedule of Operating Expenses - Budget and Actual Schaumburg Regional Airport Fund Schedule of Operating Revenues and Expenses - Budget and Actual Schaumburg Baseball Stadium Fund Schedule of Operating Revenues and Expenses - Budget and Actual Schaumburg Hotel and Convention Center Fund Schedule of Operating Revenues - Budget and Actual Schedule of Operating Expenses - Budget and Actual Commuter Parking Lot Fund Schedule of Operating Revenues and Expenses - Budget and Actual

125-127 128-138

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143 144 145 . .

146 147

148

VILLAGE OF SCHAUMBURG, ILLINOIS TABLE OF CONTENTS Page(s)

STATISTICAL SECTION (Unaudited) Financial Trends Net Assets by Component Changes in Net Assets Fund Balances, Governmental Funds Changes in Fund Balances, Governmental Funds

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149 150-151 152 153-154

Revenue Capacity Sales Tax by Category Direct and Overlapping Sales Tax Rates Sales Tax Receipts Sales Tax Receipts by Month Home Rule Sales Tax Receipts by Month Retail Sales Volume Hotel Tax Revenues Other Village Revenues

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155 156 157 158 159 160 161 162

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163 164 165 166

Debt Capacity Assessed and Estimated Actual Value of Taxable Property Ratios of Outstanding Debt by Type Ratio of General Bonded Debt Outstanding Direct and Overlapping Governmental Activities Debt Demographic and Economic Information Demographic and Economic Statistics Principal Employers

167 168

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Operating Information

Full-Time Employees

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Operating Indicators Capital Asset Statistics by Function/Program

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169 170 171

VILLAGE OF SCHAUMBURG, ILLINOIS OFFICERS AND OFFICIALS April 30, 2009

LEGISLATIVE VILLAGE BOARD OF TRUSTEES Al Larson, President

Marge Connelly

Hank Curcio

Thomas Dailly

Mark Madej

George Dunham

Jack Sullivan Marilyn 1. Karr, Clerk

ADMINISTRATION Kenneth Fritz, Village Manager

DEPARTMENT OF FINANCE Douglas R. Ellsworth, Director of Finance Jodie K. Andrew, Assistant Director of Finance

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VILLAGE OF SCHAUMBURG ORGANIZATION CHART

Residents of Schaumburg

Manager's Office General Government Department

Transportation Department

Village Clerk

Village President and Board of Trustees

Boards Commissions Committees

Village Manager

Community Development Department

Human Resources Department

Information Technology Department

Village Attorney

Engineering and Public Works Departments

Finance Department

Cultural Services Department

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Police Department

Hotel and Convention Center

Fire Department

Certificate of Achievement for Excellence in Financial Reporting Presented to

Village of Schaumburg Illinois For its Comprehensive Annual Financial Report for the Fiscal Year Ended April 30, 2008 A Certificate of Achievement for Excellence in Financial Reporting is presented by the Government Finance Officers Association of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financial reports (CAFRs) achieve the highest standards in government accounting and financial reporting.

President

Executive Director

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M ~--y

VILLAGE OF SCHAUMBURG MUNICIPAL CENTER /101 SCHAUMBURG COURT / SCHAUMBURG, IL 60193-1899 847.895.4500/ TDD 847.923.4435 / FAX 847.895.7806 / wWW.CI.SCHAUMBURG.IL.US

September 18, 2009 The Honorable Al Larson, Village President Members of the Village Board of Trustees Citizens of the ViIlage of Schaumburg, Illinois

The Finance Department is pleased to submit the Comprehensive Annual Financial Report (CAFR) of the Village of Schaumburg, Illinois (the Village) for the fiscal year ended April 30, 2009. The submittal of this report complies with the requirements of both Illinois state law and the Village of Schaumburg Code of Ordinances that annual financial statements be prepared in conformance with generally accepted accounting principles (GAAP) and audited in accordance with generally accepted auditing standards by an independent firm of certified public accountants. Responsibility for both the accuracy of the data and the completeness and fairness of presentation, including disclosures, rests with the Village. We believe the data presented is accurate in all material respects and that it is presented in a manner designed to fairly set forth the financial position and results of operations of the Village as measured by the financial activity of its various funds. All disclosures necessary to enable interested citizens and investors to gain a reasonable understanding of the Village's financial activities have been included. Miller, Cooper & Co., Ltd., a firm of licensed certified public accountants, has issued an unqualified opinion on the Village of Schaumburg's financial statements for the fiscal year ended April 30, 2009. The independent auditors' report is located at the front of the financial section of this report. Management's discussion and analysis (MD&A) immediately follows the independent auditors' report in the financial section of the CAFR. The MD&A provides a narrative introduction, overview, and analysis of the basic financial statements, and complements this letter of transmittal and should be read in conjunction with it. The Village receives financial assistance through various federal grant programs. As required by the Single Audit Act of 1984, P.L. 98-502 and amendments of 1996, and Office of Management and Budget Circular A133, audits of programs receiving federal grants have been performed for the fiscal year ended April 30, 2009. The required reports on supplementary information, compliance, internal controls, and various supplementary schedules are included in a separately issued document. Copies of this report can be obtained by contacting the Village's Finance Department.

Profile of the Village of Schaumburg The Village of Schaumburg was incorporated on March 7,1956, and is located approximately 26 miles northwest of downtown Chicago. The Village is bordered by Interstate 290 on the east, and Interstate 90 runs near its northern border. More than 99% of the Village is located in Cook County, with a small portion located within DuPage County. The Village currently has a land area of 19.13 square miles and serves a population of75,936. The Village is a home-rule community as defined by the Illinois Constitution, meaning that it has no tax rate or debt limits, nor is it required to conduct a referendum to authorize IV

PROGRESS THROUGH THOUGHTFUL PLANNING

additional debt or to raise taxes. The Village is empowered by the state to levy a property tax on real property located within its boundaries, but, to date, the Village has never levied a real property tax. The property tax revenue as reported in this report pertains to special service areas and a tax increment financing district. The Village operates under the council-manager form of government. Policy making and legislative authority are vested in the Village Board, which consists of a Village President and six trustees elected at large. A Village Manager is hired by the Village Board to carry out the policies and ordinances of the Board and to oversee the day-to-day operations of the Village. The Village provides the following services to its residents: • • • • • • •

Planning and community development Public safety: police, fire protection, emergency medical services, health and building inspections Transportation and parking: street maintenance and construction, train station parking, limited mass transportation, bike paths, regional airport Cultural services: performing arts, festivals, minor league baseball stadium Utilities: water and sewer Hotel and convention center Health and human services

The Reporting Entity This report includes all activities and functions of the Village that are under the jurisdiction of the Board of Trustees, as set forth in state and local law. There are two blended component units included in this report, those being the Police Pension Fund and the Firefighters' Pension Fund. These two pension plans are governed by a separate board, but the Village is obligated to fund the two plans based on actuarial valuations. The Village's Renaissance Schaumburg Hotel and Convention Center operates on a different fiscal year than other Village operations. The Hotel and Convention Center Fund is reported on a fiscal year ending the Friday closest to December 31 st. This report includes the financial position of the hotel and convention center as of January 2, 2009, and the results of operations for the year beginning December 29,2007 and ended January 2, 2009. Accounting System and Budgetary Control The Village's accounting system supports an adequate internal control structure. This structure helps safeguard the Village's assets against loss, theft, or misuse. The accounting system provides reliable financial records for preparing financial statements in conformity with accounting principles generally accepted in the United States of America. The internal control structure provides reasonable, but not absolute, assurance that the Village's assets are safeguarded. The concept of reasonable assurance first recognizes that the cost of a control should not exceed the benefits likely to be derived. Secondly, the evaluation of costs and benefits requires estimates and judgments by management. The annual budget serves as the foundation for the Village's financial planning and control. It also serves as the legal authority to spend public funds. The Village Board has adopted the Budget Act for purposes of legally appropriating public funds. The Village Manager has been designated by the Village Board as the Budget Officer. All departments submit their budget requests to the Village Manager on or before January 1st. The Director of Finance

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prepares an estimate of revenues to be received during the fiscal year. The Village Manager, Director of Finance, and appropriate staff review all budget requests and revenue estimates and develop a proposed budget. The Village Manager presents his proposed budget to the Village Board and public at least two weeks prior to a formal public hearing in April. By state law, the annual budget must be adopted by the Village Board prior to the first day of the fiscal year. The hotel and convention center budget is prepared each fall by the Director of Finance and the management of Renaissance Hotel Management Company. The proposed Hotel budget is then presented to the Village Board and public hearings are held. The Hotel budget is adopted by the Village Board prior to the end of the calendar year. The Budget Officer may approve the transfer of budgeted funds from one account to another, provided the two accounts are within the same object class and within the same department and fund. Any other amendments or increases to the annual budget may be done only by a two-thirds vote of the Village Board.

Relevant Financial Policies To help insure its continued ability to meet immediate and long-term service objectives, the Village has adopted and adheres to several financial policies. These policies govern the allocation and management of resources. Some of the more salient policies include the following: • • • • •

An investment policy, providing for a high investment return while protecting principal; A purchasing policy, setting forth the procedures for ensuring that the best products and services are received at the lowest possible price; A policy requiring a six-month review of revenues and expenditures compared to budget, ensuring that the Village Board is aware of major variances; A capital policy, setting forth the thresholds for capitalizing capital assets; and A fund balance policy, setting forth the benchmark reserve levels to be maintained in the various funds to ensure proper working capital; rainy-day funds are maintained to protect against unforeseen economic events.

Long-term Financial Planning The Village maintains a five-year financial forecast for all funds that is updated several times per year. These forecasts project revenues, expenditures, fund balance levels, and cash and investment levels. The forecasts are used for purposes of monitoring the long-term financial outlook of the Village, determining available funding for the Capital Improvements Plan, and assisting the Village Manager in setting initial budget goals for department directors. The Village prepares a comprehensive five-year Capital Improvements Plan (CIP) which lays out in detail all planned capital projects and major capital expenditures for the current fiscal year and five subsequent fiscal years. The CIP is reviewed and adjusted to reflect expected available resources. The CIP is reviewed by the Manager's Office and presented to both the Committee of the Whole and the Village Board prior to the annual budget being prepared and presented to the Village Board.

Local Economy and Economic Outlook The Village of Schaumburg is a leading economic center in the Chicago metropolitan area. There is in excess of9.5 million square feet of commercial space (including a very successful 2.7 million square foot Woodfield Mall), 12 million square feet of office space, and over 13 million square feet of industrial development. The Village remains the second highest producer of retail sales in the state of Illinois, behind

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the City of Chicago. Retail sales totaled $26.7 billion in the fiscal year ended April 30, 2009, which was a decrease of 11.4% from the preceding year. The global economic recession that started in December of 2007 continued to impact retail sales through the entire fiscal year. At the present time, there are economic indicators suggesting the worst may be over. While there has definitely been a slow down, some new commercial construction is still taking place. A new Hilton Gardens Hotel opened in the fall of 2008, with a 137 room Cambria Suites hotel under construction. Also under construction are a large Whole Foods grocery store and a Pier 1 Imports store. The current economic downturn has resulted in significant jumps in unemployment nationwide. The unemployment rate for the Village was reported at 9.6% for June 2009, compared to 10.5% for the state of Illinois and 9.7% for the United States. The Village's unemployment rate was 5.7% for June 2008. The Village is monitoring revenues and expenditures of the 200911 0 fiscal year carefully, given the longrunning recession and its impact on Village tax revenues. The approved 200911 0 budget calls for a drawdown of $3.2 million from reserves in the General Fund to balance the budget. This includes the one-time transfer of $3.7 million from two other funds. As of July 31, 2009, the General Fund operating deficit for 200911 0 was projected to now be $8.1 million. The Village Board and staff are currently reviewing alternatives in order to eliminate the projected General Fund deficits for the upcoming fiscal year.

Major Initiatives The fiscal year ended April 30, 2009 saw several accomplishments and major initiatives come to fruition, including: • • • • • • • •

The Police Department installed a new personnel scheduling and record management software. In addition to other resurfacing and reconstruction projects, the Village participated with the County on the total reconstruction and improvement of Wise Road, from Roselle Road to Plum Grove Road. A new 311 information call system went operational in September 2008, only the second such system in the State of Illinois. A new emergency operations center was constructed. The Schaumburg Youth Orchestra was named Illinois Youth Orchestra of the Year. A comprehensive "Green Action Plan" was adopted. The conversion to the Munis ERP system was completed. A new Transit-Oriented Development plan was adopted, and a new tax increment financing district was created to undertake public improvements in the area.

Some of the more significant initiatives planned for the 200911 0 fiscal year are as follows: • • •

The Village Board is expected to address the operating deficits projected for the General Fund. Several redevelopment activities are planned for within the Village's Olde Schaumburg Centre Tax Increment Financing District, including parking lot improvements. The Village's web site is expected to be totally redeveloped, enhancing readability and functionality.

Awards and Acknowledgements The Government Finance Officers Association of the United States of America (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the Village of Schaumburg for its

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Comprehensive Annual Financial Report (CAFR) for the fiscal year ended April 30, 2008. This represented the twenty-fourth consecutive year that the Village has received this prestigious award. In order to be awarded a Certificate of Achievement, the Village must publish an easily readable and efficiently organized CAFR that satisfies both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe that our current CAFR continues to meet the Certificate of Achievement Program's requirements and are submitting it to the GFOA to determine its eligibility for another certificate. We would like to express our sincere gratitude to the Village personnel who contributed to this report, especially the personnel in the Accounting Division. The Village President and Village Board of Trustees must be acknowledged and thanked for setting the highest standards of professionalism in the oversight and management of the Village's finances.

Respectfully submitted,

K~

Douglas R. Ellsworth, CPA Director of Finance & Treasurer

Village Manager

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MILLER CCIDPER &Co.,Ltd ACCOUNTANTS AND CONSULTANTS

INDEPENDENT AUDITORS' REPORT

The Honorable President Members of the Board of Trustees Village of Schaumburg, Illinois We have audited the accompanying financial statements of the governmental activities, the businesstype activities, each major fund, and the aggregate remaining fund information of the Village of Schaumburg, Illinois, as of and for the year ended April 30, 2009, which collectively comprise the Village's basic financial statements, as listed in the table of contents. These financial statements are the responsibility of the Village's management. Our responsibility is to express opinions on these financial statements based on our audit. We did not audit the operations (assets, liabilities, revenues, and expenses) of the Schaumburg Hotel and Convention Center as of January 2, 2009 which constitute 3%, 2%, 100%, and 80%, respectively of the consolidated totals. Those statements were audited by other auditors whose report has been furnished to us, and our opinion, insofar as it relates to the amounts included for the Schaumburg Convention Center, is based solely on the report of the other auditors. We conducted our audit in accordance with 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. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit and the report of the other auditors provide a reasonable basis for our opinions. In our opinion, based on our audit and the report of the other auditors, 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 Village of Schaumburg, Illinois, as of April 30, 2009, and the respective changes in financial position and cash flows, where applicable, thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America.

(Continued) -11751 Lake Cook Road, Suite 400, Deerfield, IL 60015 • 500 West Madison Street, Suite 3350, Chicago, IL 60661 847.205.5000 • Fax 847.205.1400 • www.millercooper.com

NEXIA

INTERNATIONAL

The Honorable President Members ofthe Board of Trustees Village of Schaumburg, Illinois

In accordance with Government Auditing Standards, we have also issued our report dated September 18, 2009 on our consideration of the Village's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit. The management's discussion and analysis on pages 3 through 15 and the Illinois Municipal Retirement Fund, Police and Firefighters' Pension Funds, and Other Postemployment Benefit supplementary information, and budgetary comparison information on pages 73 through 80 are not a required part of the basic financial statements but are supplementary information required by accounting principles generally accepted in the United States of America. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the required supplementary information. However, we did not audit the information and express no opinion on it. Our audit was conducted for the purpose of forming OpIniOnS on the financial statements that collectively comprise the Village's basic financial statements. The combining and individual nonmajor fund financial statements and other schedules as listed in the table of contents are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole. The accompanying introductory and statistical sections, as listed in the table of contents, are presented for purposes of additional analysis and are not a required part of the basic financial statements. This information has not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we express no opinion on them. MILLER, COOPER & CO., LTD.

~.C4e-r ~c:;;; 4// Celiified Public lCcountants Deerfield, Illinois September 18, 2009

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MILLER COOPER & CO., LTD.

VILLAGE OF SCHAUMBURG, ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS For the Fiscal Year Ended April 30, 2009

As management of the Village of Schaumburg, Illinois (the "Village"), we offer readers of the Village's Comprehensive Annual Financial Report (CAFR) this narrative overview and analysis of the financial activities of the Village for the year ended April 30, 2009. We encourage readers to consider the information presented here in conjunction with additional information that we have furnished in our letter of transmittal located in the Introductory Section of this report. FINANCIAL HIGHLIGHTS • • • • • •

• •

•

Assets of the Village exceeded liabilities by $253,951,572. The Village's total net assets decreased by $14,032,620 during the year. Combined revenue totaled $159,304,288, including $1,000,142 of contributions. Overall expenses totaled $173,336,908. As of the close of the current fiscal year, the Village's governmental funds reported combined ending fund balances of $56,515,998. For the year ended April 30, 2009, the Village's General Fund reported expenditures exceeding revenues by $5,174,346. Other financing uses exceeded other financing sources by $1,136,673, resulting in a net reduction in fund balance of $6,311,019. Unreserved fund balance in the General Fund totaled $27,895,490 on April 30, 2009, representing 35.6% of total General Fund expenditures for the current fiscal year and 35.2% of the 200911 0 fiscal year's budget for expenditures and other financing uses. The Village's Waterworks and Sewerage Fund reported net assets increasing by $510,253. Operating income before depreciation and amortization expense was $2,533,262. The Village's Hotel and Convention Center reported $8,616,449 of operating income before depreciation and amortization for the fiscal year that began December 29, 2007 and ended January 2, 2009. Net assets decreased a total of $5,563,097, after factoring in nonoperating income of $7,116,513, interest expense of $11,424,262, and depreciation and amortization expense of $9,871,797. The Village's total bonded indebtedness increased by $1,595,000 during the current fiscal year, for a total of $307,545,000 outstanding at April 30, 2009. OVERVIEW OF THE FINANCIAL STATEMENTS

This discussion and analysis is intended to serve as an introduction to the Village of Schaumburg's basic financial statements. The Village's basic financial statements are comprised of three components: I) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves. A. Government-wide Financial Statements The government-wide financial statements are designed to provide readers with a broad overview of the Village of Schaumburg's finances, in a manner similar to private-sector business.

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The statement of net assets presents information on all of the Village's assets and liabilities, with the difference between the two being reported as net assets. Over time, increases or decreases in net assets may serve as a useful indicator of whether the financial position of the Village is improving or deteriorating. The statement of activities presents information showing how the Village's net assets changed during the most recent fiscal year. All changes in net assets 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. Both of the government-wide financial statements distinguish functions of the Village 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 Village include general government, public safety, highways and streets, health and welfare, cultural and recreation, and interest expense on debt. The business-type activities ofthe Village include waterworks and sewerage, a regional airport, commuter parking lots, a minor league baseball stadium, and the convention center and hotel. The government-wide financial statements can be found on pages 16-18 of this report. B. Fund Financial Statements Fund financial statements are prepared for all individual funds maintained by the Village. The Village, like other state and local governments, uses fund accounting to maintain control over resources that have been segregated for specific activities or objectives and to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the Village can be divided into three categories: governmental funds, proprietary funds, and fiduciary funds. Governmental fund financial statements are prepared using the current financial resources measurement focus and the modified accrual basis of accounting. Proprietary and fiduciary funds are prepared using the total economic resources measurement focus and the accrual basis of accounting. A full description of fund accounting can be found in the notes to the financial statements.

Governmental Funds. Because the focus of governmental funds is narrower than that of the governmentwide 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 government's near-term financing decisions. Both the governmental funds balance sheet and the governmental funds statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. The Village maintains 21 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, aide Schaumburg Centre Special Allocation Fund, Capital Improvements Fund, and 2008 Capital Projects Fund, all of which are considered to be major funds. Data from the other 17 governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these nonmajor governmental funds is provided in the form of combining statements elsewhere in this report. The basic governmental fund financial statements can be found on pages 19-24 of this report.

Proprietary funds. The Village maintains two different types of proprietary funds. Enterprise funds are used to report the same functions presented as business-type activities in the government-wide financial statements. The Village uses enterprise funds to account for its water and sewer operations, its commuter

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parking lots, its regional airport, its minor league baseball stadium, and the hotel and convention center. Internal service funds are an accounting device used to accumulate and allocate costs internally among the Village's various functions. The Village uses internal service funds to account for its fleet of vehicles, computers and other office equipment, system repairs and improvements to its public buildings, and risk management activities. The internal service funds have been allocated between the governmental and business-type activities in the government-wide financial statements based on service charges paid into each fund by the user department. Proprietary fund financial statements 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 Waterworks and Sewerage Fund, Schaumburg Regional Airport Fund, Schaumburg Baseball Stadium Fund, and Schaumburg Hotel and Convention Center Fund, all of which are considered to be major funds of the Village. The Village's Commuter Parking Lot Fund and the Performing Arts Center Fund are the only nonmajor business-type funds. Conversely, all of the internal service funds are combined into a single, aggregated presentation in the proprietary fund financial statements. Individual fund data for the internal service funds is provided in the form of combining statements elsewhere in this report. The basic proprietary fund financial statements can be found on pages 25-30 of this report.

Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of parties outside the government. Fiduciary funds are not reflected in the government-wide financial statements because the resources of those funds are not available to support the Village's own programs. The accounting used for fiduciary funds is much like that used for proprietary funds. The basic fiduciary fund financial statements can be found on pages 31-32 of this report. C. Notes to the Financial Statements

The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found on pages 33-71 of this report. D. Other Information

In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information. Included in this report is a budgetary comparison statement for the General Fund and information regarding the Village's progress in funding its obligation to provide pension and other postemployment benefits to its employees.

GOVERNMENT-WIDE FINANCIAL ANALYSIS

As noted earlier, net assets may serve over time as a useful indicator of a government's financial position. In the case of the Village of Schaumburg, assets exceeded liabilities by $253,951,572 at April 30, 2009. Following is a table that shows total net assets of the Village for the past three fiscal years.

Governmental Activities Business-T e Activities Total Villa e Net Assets

$141,647 112,304 $253,951

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A. Analysis of Net Assets Following is a table that summarizes the Statement of Net Assets of the Village at the close of the fiscal year by governmental activities, business-type activities, and Village-wide. A comparison to the preceding fiscal year is presented for all three categories. Village of Schaumburg's Statement of Net Assets (in thousands)

Current and other assets Ca ital assets Total assets Current and other liabilities Lon -term liabilities Total liabilities Net assets: Invested in capital assets, net of related debt Restricted Unrestricted Total net assets

$ 87,362 142,036 229,398 16,577 63,068 79,645

$ 82,549 143,279 225,828 18,285 65,896 84,181

$ 41,082 327,548 368,630 9,990 240,409 250,399

$ 47,167 315,660 362,827 11,267 239,256 250,523

$128,444 469,584 598,028 26,567 303,477 330,044

$129,716 458,939 588,655 29,552 305,152 334,704

79,031 19,409 51,313 $149,753

85,296 13,517 42,834 $141,647

90,028

78,593

169,059 19,409 79,516 $267,984

163,889 13,517 76,545 $253,951

°

28,203 $118,231

°

33,711 $112,304

By far the largest portion of the Village's net assets reflects its investment in capital assets (e.g., land, buildings, machinery and equipment, and infrastructure), less any related debt used to acquire those assets still outstanding. As of April 30, 2009, capital assets net of related debt totaled $163,888,792, representing 65% of total net assets. The Village uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Although the Village's investment in its 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 resources, since the capital assets themselves cannot be used to liquidate these liabilities. Just over $13.5 million (or 5.3%) of the Village's net assets represents resources that are subject to external restrictions on how they may be used, such as for debt service, capital projects, and pensions. The remaining balance of unrestricted net assets, $76,545,690, may be used to meet the Village's ongoing obligations to citizens and creditors. At the end of the current fiscal year, the Village is able to report positive balances in all three categories of net assets, both for the government as a whole, and for its separate governmental and business-type activities. The same situation held true for the prior fiscal year. B. Analysis of Changes in Net Assets Total net assets of the Village decreased by $14,032,620 during the year. Net assets related to governmental activities decreased by $8,105,570 and net assets related to business-type activities decreased by $5,927,050.

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Following is a table that summarizes the change in net assets, with a comparison to the preceding year. Village of Schaumburg's Changes in Net Assets (in thousands)

Revenues Program revenues Charges for services Operating grants Capital grants & contrib. General revenues Taxes Intergovernmental Other eneral revenues Total revenues Expenses General government Public safety Highways and streets Health and welfare Culture and recreation Interest on long-term debt Water and sewer Airport Baseball stadium Hotel and convention center Commuter arkin Total ex enses Change in net assets before transfers, contributions and s ecial items Transfers (Net) Contributions Chan e in net assets Net assets - Ma I Net assets - A ril30

$ 9,562 594 58

$ 7,995 446 172

$ 59,366 0 0

$ 62,522 0 1,000

$ 68,928 594 58

$ 70,517 446 1,172

40,521 41,251 5,037 97,023

37,190 37,485 4,771 88,059

6,448 231 1,960 68,005

6,523 563 637 71,245

46,969 41,482 6,997 165,028

43,713 38,048 5,408 159,304

15,582 45,023 25,119 3,385 2,649 3,077 0 0 0 0 0 94,835

19,339 44,427 22,693 3,660 2,392 3,019 0 0 0 0 0 95,530

0 0 0 0 0 0 18,618 2,621 762 53,170 714 75,885

0 0 0 0 0 0 18,554 2,227 819 55,425 782 77,807

15,582 45,023 25,119 3,385 2,649 3,077 18,618 2,621 762 53,170 714 170,720

19,339 44,427 22,693 3,660 2,392 3,019 18,554 2,227 819 55,425 782 173,337

2,188 (2,369) 0 (181) 149,934 $149,753

(7,471) (635) 0 (8,106) 149,753 $141,647

(7,880) 2,369 435 (5,076) 123,307 $118,231

(6,562) 635 0 (5,927) 118,231 $112,304

5,692) 0 435 (5,257) 273,241 $267,984

(14,033) 0 0 (14,033) 267,984 $253,951

For governmental activities, program expenses of $95,529,829 exceeded program revenues of$8,612,628 by $86,917,201. For business-type activities, program expenses of $77,807,079 exceeded program revenues of $63,522,331 by $14,284,748. Revenues associated with governmental activities totaled $88,059,234, a decrease of $8,964,444, or 9.2%, from the prior year. Charges for services decreased by $1.6 million, or 16%, mostly due to declining building activity and related building permits. Tax revenue of $37.2 million is $3.3 million, or 8%, less than the preceding year. The worst economic recession since the Great Depression has resulted in lower revenues from the hotel tax, home-rule sales tax, food and beverage tax, and real estate transfer tax. Intergovernmental revenues totaled $37.5 million, a decrease of $3.8 million, or 9%. Significant decreases were experienced in the state sales tax and state income tax remittances.

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Expenses associated with governmental activities totaled $95,529,829, representing an increase of $694,415, or 0.7%, over the prior year. General governmental expenses of $19.3 million are up $3.8 million over the preceding year due to various capital projects benefiting general government. All other categories are showing a decrease in spending compared to the prior year. Net transfers out of the governmental activities totaled $634,975, reflecting a transfer to the Baseball Stadium Fund for debt service. Revenues associated with business-type activities totaled $71.2 million, an increase of 4.8% over the preceding year. Charges for services increased 5.3% to $62.5 million. Hotel and convention center service charges of $42.7 million increased 7% from the prior year. However, it should be pointed out that the revenue reported for the hotel and convention center reflects results from calendar year 2008. Hotel revenues are expected to drop approximately 25% in calendar year 2009 due to the current economic climate. Water and sewer user charges generated $17.9 million, 4% higher than the $17.2 million recorded the preceding year. Tax revenue reported in the business-type activities totaled $6.5 million, just slightly above the $6.4 million reported last year. Expenses of the business-type activities totaled $77,807,079, an increase of 2.5% over the preceding year. Hotel and convention center expenses totaled $55.4 million, representing an increase of 4.2% over the preceding year. FINANCIAL ANALYSIS OF THE VILLAGE'S FUNDS As noted earlier, the Village of Schaumburg uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. A. Governmental Funds The focus of the Village's governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the Village's financing requirements. In particular, unreserved fund balance may serve as a useful measure of a government's net resources available for spending at the end of the fiscal year. As of April 30, 2009, the Village's governmental funds reported combined ending fund balances of $56,515,998, representing a decrease of $2,609,032 from the preceding year. Approximately 66% ($37,248,433) constitutes unreserved, undesignated fund balance, which is available for spending at the Village's discretion. The remainder of fund balance is reserved or designated, to indicate that it is not available for new spending because it has already been committed: I) to liquidate contracts and purchase orders for the previous year, 2) to pay debt service, or 3) for a variety of other restricted purposes.

General Fund. The General Fund is the primary operating fund of the Village. At April 30, 2009, total fund balance was $29,211,112, of which $27,895,490 was classified as unreserved. As a measure of the General Fund's liquidity, it may be useful to compare both unreserved fund balance and total fund balance to total fund expenditures. Unreserved fund balance represents 35.6% of total expenditures, while total fund balance represents 37% of expenditures. The Village's fund balance policy states that it will try to maintain unreserved fund balance equal to 40% of the subsequent year's budgeted expenditures and other financing uses. As of April 30, 2009, the Village's unreserved fund balance represented 35.2% of budgeted expenditures and other financing uses for the 200911 fiscal year.

°

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Expenditures of $78.3 million exceeded revenues of$73.1 million by $5.2 million. Net other financing uses of $1.1 million resulted in a total net decrease in fund balance of $6.3 million. As will be explained more fully later in this correspondence, the recession has resulted in significant reductions in General Fund revenues, resulting in the deficit. The original and final budgets called for decreases in fund balance of $2,966,983 and $4,014,309, respectively.

Olde Schaumburg Centre Special Allocation Fund. This fund was created in 1989 to account for the revenues and expenditures related to the Village's tax increment financing redevelopment area. Expenditures of $2,837,335 exceeded revenues of $2,640,770, resulting in a reduction in fund balance of $196,595. Fund balance at April 30, 2009 totaled $3,646,514. Significant capital improvements are planned for the 200911 0 fiscal year. Capital Improvements Fund. The Capital Improvements Fund was created to account for financial resources to be used for the acquisition or construction of major capital facilities and improvements. Net assets increased by $584,199 during the 2008/09 fiscal year. Expenditures of $3,452,683 exceeded revenues of $2,183,512 by $1,269,171, but there was also a one-time transfer of $1,853,370 from the Facilities Fund during the year. Net assets at April 30, 2009 totaled $3,173,644. 2008 Capital Projects Fund. The 2008 Capital Projects Fund was created to account for the proceeds from the Series 2008 bond sale which closed in December, 2008. Bond proceeds are being used to fund the construction of various improvements within the Olde Schaumburg Centre Tax Increment Financing District. Net proceeds from the bond sale earmarked for governmental activities totaled $8,568,000. Expenditures totaled only $88,536, as most of the planned improvements are not expected to be undertaken until 2009110. The fund is showing total fund balance of $8,492,102 at April 30, 2009. B. Proprietary Funds The Village's proprietary funds provide the same type of information found financial statements, but in more detail.

III

the government-wide

At April 30, 2009, net assets of the proprietary funds totaled $109,719,805, a decrease of $5,569,742 from the prior year. Assets totaled $360,593,671 and liabilities totaled $250,873,866. Net capital assets of the proprietary funds totaled $314,430,250. Bonds payable at April 30, 2009 totaled $240,519,662. For all proprietary funds, combined operating income before depreciation and amortization expense totaled $10,869,211 on operating revenues of $62.5 million and operating expenses of $51.7 million. Depreciation and amortization expense totaled $13,999,571, resulting in a combined operating loss of $3,130,360. Nonoperating revenues and expenses decreased net assets by an additional $4,074,499. There were also net transfers from other funds of $634,975 and contributions of $1,000,142 reported for the year.

Waterworks and Sewerage Fund: Total net assets amounted to $41.1 million on April 30, 2009, an increase of$510,253. Operating income before depreciation and amortization expense totaled $2,533,262. Operating revenues of $18,059,370 came in $1,249,226 (6.5%) lower than budget projections. The negative budget variance can be attributed to lower than expected water consumption due to a cooler and rainy summer. Operating expenses (excluding depreciation and amortization) totaled $15,526,108, which was $2,313,713, or 13%, under budget. $1.8 million of the budget variance can be attributed to lower costs of water purchased, due to the lower demand for water. After deducting $2,450,406 for depreciation and amortization expenses, a net operating profit of $82,856 was reported. Net nonoperating expenses totaled $41,697. There was also a $1,000,142 contribution reported for the year. Cash and investments totaled $4,604,874 at April 30,2009.

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Hotel and Convention Center Fund: The Village-owned 500 room hotel and convention center opened for business on July 17, 2006. As explained in the notes to the financial statements, the fiscal year-end of the Hotel and Convention Center Fund was established as the Friday closest to December 31 sl to coincide with the fiscal year of Renaissance Hotel Management Company, the facility's operating manager. The CAFR for the year ended April 30, 2009 includes the financial results of the hotel and convention center for the year ended January 2,2009. For the fiscal year ended January 2, 2009, net assets of the Hotel and Convention Center Fund decreased by $5,563,097, resulting in total net assets of $38,166,325. Operating income before depreciation and amortization expense was $8,616,449. Depreciation and amortization expense totaled $9,871,797, resulting in a net operating loss of $1,255,348. Nonoperating revenue recorded in the Hotel and Convention Center Fund totaled $7,116,513, consisting of $386,789 of investment income and $6,729,724 from various tax revenues earmarked for a portion of the hotel and convention center's debt service. The only nonoperating expense was that of interest expense, which totaled $11,424,262.

C. Internal Service Funds. The Village maintains four internal service funds. Three funds cover the systematic replacement of vehicles, office equipment, and building system components. The fourth fund covers the Village's risk management activities, including employees' health and life benefits, worker's compensation, and property and casualty. Total net assets at April 30, 2009 were $19,451,922, a decrease of $966,080 from the preceding year. Operating income before depreciation expense was $440,397. After depreciation expense of $1,176,495, a net operating loss of $736,098 was reported. Nonoperating revenue totaled $770,018. A one-time transfer of $1,000,000 was made from the Vehicle Replacement Fund to the General Fund during the year to help offset a portion of the revenue shortfall reported in the General Fund. The Risk Management Fund reported a $466,620 reduction in net assets, primarily the result of higher than expected claim expense in the area of general liability and worker's compensation.

D. Fiduciary Funds The Village's fiduciary funds consist of various agency funds and two pension trust funds, those being the Police Pension Fund and the Firefighters' Pension Fund. Net assets held by the pension trust funds totaled $126,458,971 at April 30, 2009, a decrease of $12,928,940 from the preceding year. Benefit and administrative expenses totaled $7,807,577. Contributions into the two pension funds totaled $7,703,873, but there was a net investment loss of $12,825,236 during the year due to the major decline in the stock market. The combined unfunded actuarial accrued liability of the Police and Firefighters' Pension Funds totaled $66.2 million at April 30, 2008, the most recent actuarial data available. At April 30, 2008, the Police Pension Fund was 69% funded and the Firefighters' Pension Fund was 66% funded.

GENERAL FUND HIGHLIGHTS A. Amendments to Budget Amendments to the budget are made throughout the year. The Village Manager, as Budget Officer, is authorized to implement a budget transfer between accounts within the same object class, provided it is within the same department and fund. Numerous transfers were authorized by the Budget Officer during the

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year. Budget transfers between object classes and any increases to the total budget must be approved by the Village Board. The Village Board approved various amendments to the budget on April 22, 2008 and January 13, 2009. Revenue projections were decreased by a total of $3,790,830 during the year, bringing the total to $77,043,848. Budget projections for revenue from the state sales tax and home-rule sales tax were decreased by a collective $3,293,433. There were less significant increases and decreases in several other revenue sources. The projections for other financing sources were increased by $2,124,000 due to the Board's decision to transfer funds from the Medical Facility Fund and Performing Arts Center Fund as a means of lessening the deficit. The Village Board amended the total 2008/09 General Fund expenditure budget by $472,121, reducing it from $80,148,615 to $79,676,494. The budget for the Engineering and Public Works Department was increased by $731,345 on account of unanticipated severe wind and snow storms. Other departments all saw decreases in their budgets relating to a hiring freeze, reductions in replacement fund charges, and other expenditure cuts. The budget for other financing uses decreased by $147,383, as the operating transfer to the Transit Fund was reduced during the year to reflect board-approved service reductions. B. Change in Fund Balance The following table summarizes General Fund revenues and expenditures, with a comparison to budget, and the preceding fiscal year's actual, for the fiscal year ended April 30, 2009.

Revenues and other financing sources Taxes Licenses and permits Intergovernmental Charges for services Other revenue Other financin sources Total Expenditures and other financing uses General government Public safety Highways and streets Health and welfare Culture and recreation Other financin uses Total Chan e in fund balance

$ 30,401 4,663 37,302 4,584 3,715 57 80,722

$ 30,407 3,746 38,371 4,647 3,664 26 80,861

$28,952 3,311 36,313 4,510 3,958 2,150 79,194

$27,030 3,371 33,796 4,335 4,581 2,161 75,274

(6.6)% 1.8 (6.9) (3.9) 15.7 0.5 (5.0)

13,565 45,005 14,605 3,135 2,631 6,300 85,241 $ (4,519)

14,256 45,715 13,949 3,801 2,428 3,679 83,828 $ (2,967)

13,871 44,917 14,593 3,955 2,340 3,532 83,208 $ (4,014)

13,571 44,014 14,993 3,374 2,335 3,298 81,585 $ (6,311)

(2.2) (2.0) 2.7 (14.7) (0.2) (6.6) (2.0) 57.2 %

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As can be seen in the above table, the General Fund reported a $6.3 million decline in fund balance for the fiscal year ended April 30, 2009, compared to the $4.0 million reduction in fund balance called for in the final budget, and significantly worse than the original budget deficit of $3.0 million. As will be explained further below, the decline in the results of operations can be attributed to the continued recession that began in December 2007. Revenues and other financing sources came in $3.9 million, or 5%, below the final budget projections, and $5.6 million below the original budget projection. Expenditures and other financing uses came in $1.6 million, or 2%, below the final budget, and $2.2 million below the original budget.

C. Tax Revenue Tax revenue of $27 million fell short of the final budget by $1,921,448, or 6.6%. This was 11 % less than the amount of tax revenue received the preceding year. The Village is one of the few municipalities in the state of Illinois that does not levy a property tax for operations. Tax revenue for the General Fund consists primarily of a 1% home-rule sales tax and portions of both a 2% food and beverage tax and 8% hotel tax, all of which continued to fall due to the recession. Home rule sales tax revenue of $18,905,780 came in $1,425,973, or 7%, less than the final budget and 12% less than the original budget. Food and beverage tax receipts of $3.8 million fell short of budget by $250,367, or 2.7%. Hotel tax receipts of $2,437,034 fell short of final budget by $211,070, or 8%. Telecommunications tax revenue of 1.7 million came 1% below the revised budget estimate.

D. License and Permit Revenue Revenue from licenses and permits totaled $3,370,977, exceeding the final budget by $60,517, and falling short of the original budget by 10%. Negative budget variances were seen in the areas of vehicle licenses, building permits, and public improvement permits.

E. Intergovernmental Revenue Intergovernmental revenue totaled $33,796,243, which was $2.5 million, or 6.9%, less than the final budget, and $4.6 million less than the original budget. Intergovernmental revenues fell 10.4% below the amount received the preceding fiscal year. Intergovernmental revenue in the General Fund consists mostly of the 1% state sales tax allocated on a point-of-sale basis, and the allotment of state income tax. State sales tax revenue totaled $26,556,100, which was $2,192,065 (7.6%) lower than the final budget, and $4.3 million below the original budget. State income tax revenue, which is allocated on a per-capita basis, totaled $6,770,138, coming in below the final budget projection by $361,021, or 5.1 %.

F. Charges for Services Charges for services totaled $4,334,792, falling short of the final budget projection by $175,487, or 3.9%. The negative budget variance can be attributed to reductions in plan examinations, framing inspection fees, security services fees, and ambulance service fees.

G. Other Revenue Other revenues totaled $4.58 million, exceeding the final budget projection by $623,000, or 15.7%. Revenue from fines came in at $2.4 million, comparing favorably to the $1.3 million that was included in the budget projection. The variance in fines was due to the installation of red light cameras at one of the Village's busy intersections, which brought in an unexpected $990,000 of revenue. The right turn on red cameras were disconnected after only three months, and the other cameras were removed shortly after the end of the fiscal

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year. The red light camera revenue was not included in the budget projections. Grant revenue came in at $445,560, falling short of budget by $485,177. The second installment of a state grant for a child care center construction project did not come in before the end of the year as projected.

H. Other Financing Sources There were two transfers made into the General Fund during the year, totaling $2,161,352. The Medical Facilities Fund was closed during the year, and its $1,161,352 balance was moved to the General Fund. Also, $1,000,000 was transferred from the Vehicle Replacement Fund as a means of lessening the deficit within the General Fund.

I. Expenditures and Other Financing Uses Expenditures and other financing uses totaled $81,585,262, which was $1.6 million, or 2.0%, below the final budget, and $2.2 million, or 2.7%, below the original budget. Expenditures and other financing sources for 2008/09 came in 4.3% below the amount actually incurred the preceding fiscal year. General governmental expenditures of $13,571,687 came in $299,267, or 2.2%, below the final budget, and relatively unchanged from the prior year. The only significant budget variance can be found in the Support Services program of the Information Technology Department, ERP software expenditures and professional services expenditures came in $173,553 under budget. Public safety expenditures for the 2008/09 fiscal year totaled $44,013,966, which was $902,934, or 2.0%, below the final budget. Total current year expenditures were 2.2% lower than the prior year due to vacant positions being unfilled. Police Department expenditures of $24,974,387 came in 1.3% below final budget, and Fire Department expenditures of $19,039,579 came in 2.9% under budget. The positive budget variance in the Fire Department is due to the firefighters' contract not being settled yet, resulting in no pay increases being implemented on May 1, 2008, as budgeted. Expenditures relating to highways and streets totaled $14,992,906, which was $399,705 over the final budget, and $1,044,558 higher than the original budget. Current year expenditures came in significantly over budget due to the area experiencing severe wind storms in the fall and severe snow storms in the winter, resulting in higher than normal expenditures for overtime, road salt, and certain contractual services. This was the second consecutive year that Engineering & Public Works Department expenditures came in significantly over budget due to severe weather. Health and welfare expenditures of $3,373,823 came in $581,536, or 14.7%, under the final budget. Current year expenditures were 7.6% higher than the preceding year. Both the positive budget variance in the current year and the increase over the prior year are related to grant expenditures for the early childhood center construction project. The Village received $187,500 of the $750,000 grant in 2008/09, even though the entire $750,000 was expected and budgeted for. Culture and recreation expenditures totaled $2,334,855, which was two-tenths of one percent below the final budget. Current year expenses were 11.3% below the prior year, due to the $202,300 charged in 2007/08 for the biennial trip of the Schaumburg Youth Orchestra. Other financing uses, consisting of transfers to various other funds, totaled $3,298,025, which was $233,638, or 6.6%, below final budget. The positive budget variance can be found in the transfers to the Transit Program Fund and the Baseball Stadium Fund. The transfer to the Transit Program Fund came in $149,843 under budget due to the decision halfway through the year to eliminate the lunchtime shoppers shuttle. The transfer to the Baseball Stadium Fund came in under budget due to the fact that interest rates on the Series

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1998 variable rate debt came in lower than expected. Current year other financing sources were significantly lower than the $6.3 million reported last year. The reduction is mostly due to the prior year reflecting $2,287,250 of one-time transfers to two funds as part of an excess fund balance distribution, Last year was also the final year that debt service on the airport bonds had to be paid by the General Fund as a transfer to the Airport Fund due to the bonds reaching final maturity.

CAPITAL ASSETS The Village's total net investment in capital assets at April 30, 2009 was $458,939,611 (net of accumulated depreciation), of which $143,279,396 related to governmental activities and $315,660,215 related to business-type activities. This investment in capital assets includes land, buildings, machinery and vehicles, streets, water and sewer systems, and other infrastructure assets. Net capital assets decreased by $10,644,881 during the year. Depreciation expense charged for the year totaled $20,318,253. Major capital asset events during the current fiscal year include the following: • Governmental net capital assets increased by $1,243,213. Additions to governmental capital assets (net of dispositions) totaled $7,450,819. Depreciation expense totaled $6,207,606. Land valued at $1.9 million was purchased by the Olde Schaumburg Tax Increment Financing Fund. $1.8 million of street improvements were capitalized. Vehicles and equipment totaling $2 million were purchased. • Business-type net capital assets decreased by $11,888,094, with $2,222,554 of additions and $14,110,648 of depreciation expense. Water system improvements totaled $1,250,143. New equipment purchases totaled $534,905. Further information regarding the Village's capital assets can be found in Note 5 of the notes to the financial statements on pages 47-48 ofthis report.

DEBT ADMINISTRATION At April 30, 2009, the Village of Schaumburg had total bonded debt outstanding of $307,545,000, all of which is backed by the full-faith and credit of the Village. During the year, the Village's total outstanding bonded debt increased by $1,595,000. The Village issued $9 million of general obligation bonds on December 9, 2008 to fund various improvements within the Olde Schaumburg Tax Increment Financing District and the Schaumburg Regional Airport. Bonds totaling $7,405,000 were retired during the year. The Village has both fixed rate and variable rate debt outstanding. The following table summarizes the type of debt outstanding as of the end of both the current and preceding fiscal years. Total Bonded Debt (in thousands)

Fixed Rate Bonds Variable Rate Bonds Taxable Variable Rate Bonds Total

$64,241

o o $64,241

$ 67,025

o o

$ 67,025

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$234,309 5,900 1,500 $241,709

$234,220 5,000 1,300 $240,520

$298,550 5,900 1,500 $305,950

$301,245 5,000 1,300 $307,545

The interest rate on the tax-exempt variable rate debt was 0.51 % as of April 30, 2009, compared to 2.46% on April 30, 2008. The interest rate on the taxable variable rate debt was 1.15% on April 30, 2009, compared to 2.87% one year earlier. The Village of Schaumburg's general obligation bonds continue to be rated Aal by Moody's Investors Service and AA+ by Standard and Poor's, ratings which are judged to be of high quality by all standards, and are generally known as high grade bonds. The Village has maintained these high ratings since 1987. Additional information on the Village's long-term debt can be found in Note 7 on pages 50-56 of this report.

REQUESTS FOR INFORMATION

This financial report is designed to provide a general overview of the Village of Schaumburg's finances for all those with an interest in the Village's finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to Douglas R. Ellsworth, Director of Finance, Village of Schaumburg, 101 Schaumburg Court, Schaumburg, IL 60193.

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VILLAGE OF SCHAUMBURG, ILLINOIS STATEMENT OF NET ASSETS April 30, 2009

Primary Government Governmental Business-Type Activities Activities ASSETS Cash and cash equivalents Investments Receivables, net of allowance where applicable Customer accounts Unbilled services Accrued interest Other Prepaid items Inventories Deposits Due from other governments Internal balances Internal balances - advances Advances to fiduciary funds Land held for resale Net pension asset Capital assets Nondepreciable Depreciable, net of accumulated depreciation Bond issuance costs, net of amortization

$ 21,254,518 36,656,119

190,892 3,031,239 604,267 271,636 12,038,687 (97,097) 139,605

$

17,773,104 13,083,248 1,373,198 1,368,382 23,927 3,296,128 122,604 294,424 1,440,580 3,942,669 92,215 (139,605) 437,090

1,470,493 6,718,533

Total assets LIABILITIES Accounts payable Accrued interest Accrued payroll Other liabilities Unearned revenue Long-term liabilities Due within one year Due in more than one year Premium on bonds issued, net of amortization Net postemployment obligation Total liabilities NET ASSETS Invested in capital assets, net of related debt Restricted for Debt service Highways and streets Capital projects Traffic impact Other Unrestricted

1,373,198 1,368,382 214,819 6,327,367 726,871 566,060 1,440,580 15,981,356 (4,882) 437,090 1,470,493 6,718,533

29,419,114 286,241,101 4,059,331

79,034,557 379,905,054 4,329,178

225,828,135

362,827,510

588,655,645

6,530,895 790,704 1,500,261 670,022 869,399

3,140,228 973,007 315,059 2,473,256 2,507,683

9,671,123 1,763,711 1,815,320 3,143,278 3,377,082

7,223,132 65,895,771 297,352 403,421

1,835,118 239,255,569 23,196

9,058,250 305,151,340 320,548 403,421

84,180,957

250,523,116

334,704,073

85,295,859

78,592,933

163,888,792

$141,647,178 See accompanying notes to financial statements.

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$ 39,027,622 49,739,367

49,615,443 93,663,953 269,847

3,100,193 991,977 (5,327,820) 5,154,182 9,598,558 42,834,229

TOTAL NET ASSETS

Total

33,711,461 $ 112,304,394

3,100,193 991,977 (5,327,820) 5,154,182 9,598,558 76,545,690 $ 253,951,572

VILLAGE OF SCHAUMBURG, ILLINOIS STATEMENT OF ACTIVITIES For the Year Ended April 30, 2009

FUNCTIONS/PROGRAMS PRIMARY GOVERNMENT Governmental Activities General government Public safety Highways and streets Health and welfare Culture and recreation Interest on debt

Expenses

$ 19,339,324 44,426,914 22,692,790 3,660,172 2,391,524 3,019,105

Program Revenues Capital Operating Grants and Grants and Charges for Services Contributions Contributions

$

5,096,922 2,305,463 96,236 42,094 454,479

-

$

127,857 278,035

$ 171,874

39,668

Total governmental activities

95,529,829

7,995,194

Business-Type Activities Waterworks and sewerage Schaumburg regional airport Schaumburg baseball stadium Schaumburg hotel and convention center Commuter parking lot

18,554,539 2,226,567 818,777 55,424,831 782,365

18,059,370 1,190,916 279,453 42,745,221 247,229

1,000,142

Total business-type activities

77,807,079

62,522,189

1,000,142

$ 173,336,908

$ 70,517,383

TOTAL PRIMARY GOVERNMENT

445,560

$

445,560

General Revenues Taxes Property Telecommunications Home rule sales Hotel/motel Real estate transfer tax Amusement Food and beverage Other Intergovernmental - Unrestricted Personal property replacement tax Road/bridge tax Sales tax Use tax State income tax Motor fuel tax Other Investment income Miscellaneous Transfers in (out) Total CHANGE IN NET ASSETS NET ASSETS, MAY 1 NET ASSETS, APRIL 30

See accompanying notes to financial statements

- 17 -

171,874

$ 1,172,016

Net (Expense) Revenue and Change in Net Assets Primary Government Governmental Business-Type Activities Activities Total

$ (14,242,402) $ (41,993,594) (22,146,645) (3,618,078) (1,897,377) (3,019,105)

- $ (14,242,402) (41,993,594) (22,146,645) (3,618,078) (1,897,377) (3,019,105) (86,917,201 )

(86,917,201)

504,973 (1,035,651 ) (539,324) (12,679,610) (535,136)

504,973 (1,035,651) (539,324) (12,679,610) (535,136)

(14,284,748)

(14,284,748)

(86,917,201)

(14,284,748)

(101,201,949)

2,606,427 4,125,680 18,905,780 3,655,551

2,113,308 183,448 2,684,273

2,606,427 6,238,988 19,089,228 6,339,824

7,655,839 241,358 22,433 430,469 26,556,100 1,069,028 6,770,138 2,022,538 613,912 1,044,488 3,726,865 (634,975) 78,811,631 (8,105,570)

1,157,559 384,377

183,448 148,756 230,513 566,651 70,390 634,975

1,157,559 8,040,216 241,358 22,433 430,469 26,739,548 1,069,028 6,918,894 2,022,538 844,425 1,611,139 3,797,255

8,357,698

87,169,329

(5,927,050)

(14,032,620)

149,752,748

118,231,444

267,984,192

$ 141,647,178

$ 112,304,394

$ 253,951,572

- 18 -

VILLAGE OF SCHAUMBURG, ILLINOIS BALANCE SHEET GOVERNMENTAL FUNDS April 30, 2009

General ASSETS Cash and cash equivalents Investments Receivables Locally imposed taxes Fines and fees Accrued interest Other Inventories Loan receivable Due from other governments Due from other funds Advances to other funds Prepaid items Land held for resale TOTAL ASSETS

$

7,260,301 12,786,431

aIde Schaumburg Centre Special Allocation

Capital Improvements

$

$

1,774,922 499,947

527,300 583,880 150,290 257,549 271,636 69,720 11,204,239 232,372 553,902 95,116

-

-

1,470,493

$ 33,992,736

$

1,716,792 1,385,514

$

$

3,737,057 7,628,419 395,785

-

-

-

1,036 238,105

-

27,292 894,373

40,000 92,855 2,407 121,600

-

3,622,836

$

9,013,589

13,534,714

$ 63,909,237

741,593 100,195

10,000

$

19,003,674 26,799,298 947,612 583,880 178,618 1,390,027 271,636 109,720 12,038,687 334,974 675,502 105,116 1,470,493

-

-

$

4,514,602 4,498,987

Total Governmental Funds

-

-

- 19-

$

Nonmajor Governmental Funds

24,527

-

3,745,362

2008 Capital Project

General LIABILITIES Accounts payable Accrued payroll Other liabilities Unearned revenue Due to other funds Advances from other funds Total liabilities FUND BALANCES Reserved Advances Inventories Prepaid items Loan receivable Land held for resale Public safety Debt service Highway and streets Capital projects Traffic impact Other Unreserved Designated General Special revenue funds Undesignated General Special revenue funds Capital projects funds Total fund balances TOTAL LIABILITIES AND FUND BALANCES

$

2,541,949 1,496,429 643,867

aIde Schaumburg Centre Special Allocation

Capital Improvements

$

$

78,825

2008 Capital Project

449,192

521,487

1,542,088

7,393,239

90,000

-

-

643,902 271,636 95,116 69,720 1,470,493 3,910 3,100,193 991,977 3,083,644 5,154,182 325,248

20,023

6,132

1,821

-

-

-

4,781,624

98,848

553,902 271,636 95,116 69,720

-

-

1,470,493

325,248

3,083,644

-

-

1,283,580

-

8,492,102

(31,600)

8,492,102

11,992,626

56,515,998

9,013,589

$ 13,534,714

$ 63,909,237

29,211,112

3,646,514

3,173,644 $

3,622,836

See accompanying notes to financial statements.

- 20 -

-

-

-

3,745,362

5,154,182

-

-

$

3,910 3,100,193 991,977

2,773,964

2,176,021

$ 33,992,736

-

-

-

-

309,228 3,832

-

-

26,611,910

$

504,297

17,190

-

-

$

869,399 328,029 31,600

$

-

99,379

Total Governmental Funds

3,388,431 1,500,261 670,022 869,399 429,229 535,897

441,239

-

-

Nonmajor Governmental Funds

$

-

1,283,580 2,773,964 26,611,910 2,176,021 8,460,502

VILLAGE OF SCHAUMBURG, ILLINOIS RECONCILIATION OF FUND BALANCES OF GOVERNMENTAL FUNDS TO THE GOVERNMENTAL ACTIVITIES IN THE STATEMENT OF NET ASSETS April 30, 2009

FUND BALANCES OF GOVERNMENTAL FUNDS

$

56,515,998

Amounts reported for governmental activities in the statement of net assets are different because: Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the governmental funds

135,886,637

Bond issuance costs and premiums/discounts on bonds are expensed in governmental funds but capitalized and amortized in the statement of net assets

(27,505)

Interest payable is not due and payable in the current period and, therefore, is not reported in the governmental funds

(790,704)

Net pension assets are not financial resources and, therefore, are not reported in governmental funds

6,718,533

Net postemployment obligations are not funded and, therefore, are not reported in governmental funds

(403,421)

Long-term liabilities, including bonds payable, are not due and payable in the currect period and, therefore, are not reported in the governmental funds

(73,118,903)

The net assets of the internal service funds are included in the governmental activities in the statement of net assets NET ASSETS OF GOVERNMENTAL ACTIVITIES

See accompanying notes to financial statements.

- 21 -

16,866,543 $

141,647,178

VILLAGE OF SCHAUMBURG, ILLINOIS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS For the Year Ended April 30, 2009

General REVENUES Taxes Licenses and permits Intergovernmental Charges for services Fines and forfeits Grants Contributions Investment income Miscellaneous Total revenues EXPENDITURES Current General government Public safety Highways and streets Health and welfare Culture and recreation Debt service Principal Interest Bond issuance costs Capital outlay Total expenditures

$ 27,030,218 3,370,977 33,796,243 4,334,792 2,373,379 445,560

Olde Schaumburg Centre Special Allocation

Capital Improvements

$

$

2,606,427

697,036

$

-

Nonmajor Governmental Funds

Total Governmental Funds

$

$ 37,190,635 3,370,977 37,484,618 4,624,218 2,373,379 617,434 7,900 1,044,487 1,345,586

6,856,954

-

-

621,626 1,140,096

33,668 675

42,440 203,134

12,638

-

7,900 334,115 1,681

73,112,891

2,640,770

2,183,512

12,638

10,109,423

88,059,234

13,571,687 44,013,966 14,992,906 3,373,823 2,334,855

286,746

-

-

-

2,223,820 21,369

-

16,082,253 44,035,335 14,992,906 3,373,823 2,334,855

-

5,715,267 2,893,926 88,655 10,084,271 99,601,291

-

-

2008 Capital Project

1,069,028

171,874

-

-

-

-

-

2,619,347 289,426

-

-

-

-

2,550,589

3,452,683

69,556 18,980

5,715,267 2,893,926 19,099 4,062,019

78,287,237

2,837,335

3,452,683

88,536

14,935,500

- 22-

Olde Schaumburg Centre Special Allocation

General EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FINANCING SOURCES (USES) Transfers in Transfers (out) Bonds issued Premium on bonds issued

(5,174,346) $

(196,565) $

(1,269,171) $

-

1,853,370

(1,136,673)

NET CHANGE IN FUND BALANCES

(6,311,019)

FUND BALANCES, MAY 1

35,522,131

FUND BALANCES, APRIL 30

29,211,112

Total other financing sources (uses)

Nonmajor Governmental Funds

(75,898) $

Total Governmental Funds

(4,826,077) $ (11,542,057)

-

-

2,663,050 (3,014,722)

-

8,500,000 68,000

-

-

1,853,370

8,568,000

(351,672)

(196,565)

584,199

8,492,102

(5,177,749)

(2,609,032)

2,589,445

-

17,170,375

59,125,030

2,161,352 (3,298,025)

-

3,843,079 $

2008 Capital Project

Capital Improvements

3,646,514

$

3,173,644

See accompanying notes to financial statements.

- 23 -

$

8,492,102

6,677,772 (6,312,747) 8,500,000 68,000

-

$

11,992,626

8,933,025

$

56,515,998

VILLAGE OF SCHAUMBURG, ILLINOIS RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TO THE GOVERNMENTAL ACTIVITIES IN THE STATEMENT OF ACTIVITIES For the Year Ended April 30, 2009

NET CHANGE IN FUND BALANCES TOTAL GOVERNMENTAL FUNDS

$

(2,609,032)

Amounts reported for governmental activities in the statement of activities are different because: Governmental funds report capital outlay as expenditures, however, they are capitalized and depreciated in the statement of activities

3,763,567

Changes in net pension assets are reported only in the statement of activities

652,791

The issuance of long-term debt is reported as an other financing source in governmental funds but as an increase of principal outstanding in the statement of activities

(8,500,000)

The unamortized premium on bonds is shown as an increase of principal outstanding on the statement of net assets and amortized over the life of the bonds.

(68,000)

Changes in net postemp10yment obligations are reported only in the statement of activities

(118,181)

The repayment of the principal portion of long-term debt payable is reported as an expenditure when due in governmental funds but as a reduction of principal outstanding in the statement of activities

5,715,267

Some expenses in the statement of activities do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds, such as : depreciation expense, changes in accrued interest payable and changes in compensated absences

(6,332,420)

The change in net assets of certain activities of internal service funds is in governmental funds CHANGE IN NET ASSETS OF GOVERNMENTAL ACTIVITIES

See accompanying notes to financial statements.

- 24-

(609,562) $

(8,105,570)

VILLAGE OF SCHAUMBURG, ILLINOIS STATEMENT OF NET ASSETS PROPRIETARY FUNDS April 30, 2009 Governmental Activities

Business-Type Activities Waterworks and Sewerage CURRENT ASSETS Cash and cash equivalents Investments Receivables Customer accounts Unbilled services Accrued interest Other Deposits Due from other funds Due from other governments Prepaid expenses Inventory Total current assets NONCURRENT ASSETS Capital Assets Non-depreciable Depreciable Less accumulated depreciation Net capital assets Other Advance to other funds Due from other governments Other receivables Bond issuance costs, net of amortization Discount on bonds issued Other noncurrent assets Total noncurrent assets Total assets

Schaumburg Regional Airport

$ 2,426,723 2)78,151 1,373,198 1,368,382 16,314 30,412 1,424,130 8,761

$

875,551 399,926

Schaumburg Baseball Stadium

$

222,281

-

-

-

60,601

335,682

25,918

Schaumburg Hotel and Convention Center

Nonmajor Enterprise Funds

$ 13,653,654 6,943,515

-

$

Total

310,875 2,244,955

-

$ 17,489,084 11,766,547

2,578,826

1,399,116 1,368,382 23,238 3,230,210 1,440,580 94,215 1,342,669 74,238 294,424 38,522,703

-

-

-

-

8,832,946

1,361,996

1,235,706

6,924 2,801,409 16,450 67,555 661,935 67,363 294,424 24,513,229

695,200 113,880,273 (75,870,596) 38,704,877

13,878,500 20,365,122 (12,950,294) 21,293,328

1,212,651 9,080,406 (3,333,279) 6,959,778

12,908,164 257,042,947 (24,286,913) 245,664,198

724,599 4,574,451 (3,490,981 ) 1,808,069

29,419,114 404,943,199 (119,932,063) 314,430,250

-

-

-

6,875

-

437,090

504,297

-

-

36,499

17,899 659,844

2,600,000 40,000 96,781

2,106

20,890

-

-

941,387 2,600,000 40,000 2,711,461 1,347,870 7,640,718

-

Internal Service Funds

$ 2,534,864 11,173,522

12,963

38 547,517 14,268,904

16,666,194 (8,042,680) 8,623,514

-

-

-

473,589

504,297

2,736,781

2,578,181 1,347,870 3,926,051

39,178,466

21,797,625

9,696,559

249,590,249

1,808,069

322,070,968

8,623,514

$ 48,011,412

$ 23,159,621

$ 10,932,265

$274,103,478

$ 4,386,895

$ 360,593,671

$ 22,892,418

- 25 -

Governmental Activities

Business- T~ctivities

Waterworks and Sewerage CURRENT LIABILITIES Accounts payable Accrued payroll Accrued interest payable Unearned revenue Compensated absences Due to other funds Due to others General obligation variable rate demand bonds payable General obligation bonds payable Taxes payable Advance from other funds Claims payable Other liabilities Total current liabilities LONG-TERM LIABILITIES General obligation variable rate demand bonds payable General obligation bonds payable Advances from other funds Premium on bonds issued, net of amortization

$ 1,089,148 106,545 85,059

571,025 -

Schaumburg Regional Airport

Schaumburg Baseball Stadium

$

$

26,760 5,066 5,992

-

396,883

3,167

-

-

-

-

-

1,100,000

609,662

105,000 1,577

-

-

978

-

Schaumburg Hotel and Convention Center

$ 1,239,808 203,448 878,789 2,507,683

-

-

-

$

92,747

-

752

-

-

-

-

-

53,904

-

2,461,439

199,277

1,610,050

-

-

5,200,000

4,420,000

395,000

-

228,690,000

Internal Service Funds

Total

160,918

170,174

110,000

Nonmajor Enterprise Funds

-

$

2,845,346 315,059 973,007 2,507,683 571,025 1,730 160,918

$

356,022

3,150

1,100,000 714,662 171,751 110,000

-

2,086,333

350

2,140,587

7,247,153

93,849

11,611,768

-

5,200,000 233,505,000 533,902 23,196

3,081,324

3,440,496

-

-

533,902

19,996

3,200

-

-

-

Totallong-terrn liabiliites

4,439,996

398,200

5,733,902

228,690,000

-

239,262,098

Total liabilities

6,901,435

597,477

7,343,952

235,937,153

93,849

250,873,866

3,440,496

33,924,877 7,185,100

20,846,046 1,716,098

16,974,198 21,192,127

1,808,069 2,484,977

77,362,968 32,356,837

8,623,514 10,828,408

$ 41,109,977

$ 22,562,144

$ 38,166,325

$ 4,293,046

109,719,805

$ 19,451,922

NET ASSETS Invested in capital assets, net of related debt Unrestricted (deficit) TOTAL NET ASSETS

3,809,778 (221,465)

$ 3,588,313

Adjustment to reflect the consolidation of internal service fund activities related to enterprise funds

2,584,589

$ 112,304,394 See accompanying notes to financial statements. - 26-

-

-- - - - - - - - - - - - -

VILLAGE OF SCHAUMBURG, ILLINOIS STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS PROPRIETARY FUNDS For the Year Ended April 30, 2009

Governmental Activities

Business-Type Activities Schaumburg Regional Airport

Waterworks and Sewerage OPERATING REVENUES Charges for services Tap on fees Miscellaneous

$ 17,927,738 102,775 28,857

Total operating revenues OPERATING EXPENSES EXCLUDING DEPRECIATION AND AMORTIZAnON Personnel services Supplies Services and charges Capital outlay Administrative charge by General Fund Miscellaneous Capital projects Total operating expenses excluding depreciation and amortization

$

Schaumburg Baseball Stadium

$

Schaumburg Hotel and Convention Center

-

141,623

-

-

18,059,370

1,190,916

279,453

42,745,221

247,229

62,522,189

4,127,825 391,164 9,792,735 751,717 457,392 5,275

171,288 713,243 402,178

20,926 216 303,749 4,764

-

-

-

$ 42,745,221

-

-

$

33,757,142 371,630

247,229 -

-

4,320,039 1,216,349 44,433,172 1,128,111 457,392 36,221 61,693

111,726 177,368

14,774,816

13,617,061 717,358

30,946 61,693

-

-

-

15,526,108

1,379,348

329,655

34,128,772

289,094

51,652,977

14,334,419

440,397

2,533,262

(188,432)

(50,202)

8,616,449

(41,865)

10,869,212

DEPRECIATION AND AMORTIZATION

2,450,406

841,523

342,574

9,871,797

493,271

13,999,571

$

$ 14,774,816

-

OPERATING INCOME (LOSS) BEFORE DEPRECIATION AND AMORTIZAnON

OPERATING INCOME (LOSS)

Internal Service Funds

Total

$ 62,248,934 102,775 170,480

1,190,916

137,830

Nonmajor Enterprise Funds

82,856

$ (1,029,955) $

- 27 -

(392,776) $ (1,255,348) $

(535,136) $

(3,130,359)

1,176,495

$

(736,098)

Governmental Activities

Business-Type Activities

NONOPERATING INCOME (EXPENSES) Investment income Amusement tax Telecommunications tax Hotel tax Home rule sales tax Sales tax Food and beverage tax Income tax Real estate transfer tax Other income Interest expense Gain on disposal of capital assets Total nonoperating income (expenses) INCOME (LOSS) BEFORE TRANSFERS AND CONTRIBUTIONS TRANSFERS Transfers in Transfers (out) Total transfers CONTRIBUTIONS CHANGE IN NET ASSETS NET ASSETS, MAY 1 NET ASSETS, APRIL 30

Waterworks and Sewerage

Schaumburg Regional Airport

Schaumburg Baseball Stadium

Schaumburg Hotel and Convention Center

$

$

$

$

131,941

-

-

11,902

1,524

-

-

-

-

386,789 1,157,559 2,113,308 2,684,273 183,448 183,448 384,377

-

-

$

Internal Service Funds

Total

34,494

$

148,756

566,650 1,157,559 2,113,308 2,684,273 183,448 183,448 384,377 148,756 230,513 70,390 (11,797,222)

$

375,831

47,079 (220,717)

(5,695)

-

-

-

-

-

(41,697)

236,720

(145,024)

(4,307,749)

183,250

(4,074,500)

94,300 770,oI8

41,159

(793,235)

(537,800)

(5,563,097)

(351,886)

(7,204,859)

33,920

-

-

634,975 (10,000) 624,975

-

541,048

(531,048) (531,048)

-

541,048

1,176,023 (541,048) 634,975

1,000,142

-

-

-

-

1,000,142

510,253

(793,235)

87,175

(5,563,097)

189,162

(5,569,742) 115,289,547

230,513

-

-

Nonmajor Enterprise Funds

23,311 (146,548) (11,424,262)

-

-

40,599,724

23,355,379

3,501,138

43,729,422

4,103,884

$41,109,977

$22,562,144

$ 3,588,313

$38,166,325

$ 4,293,046

$

Change in net assets

109,719,805 (5,569,742)

Adj ustment to reflect the consolidation of internal service fund activities related to enterprise funds Change in net assets of business-type activities

(357,308) $

See accompanying notes to financial statements.

- 28 -

299,887

(5,927,050)

(1,000,000) _ _(1,000,000)

(966,080) 20,418,002 $

19,451,922

VILLAGE OF SCHAUMBURG, ILLINOIS STATEMENT OF CASH FLOWS PROPRIETARY FUNDS For the Year Ended April 30, 2009

Governmental Activities

Business-Type Activities

Waterworks and Sewerage CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers and users Receipts from interfund service transactions Receipts from miscellaneous revenues Receipts of funds held for others Payments for interfund service transactions Payments to suppliers Payments to employees Other receipts (payments) Net cash from (for) operating activities CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Due from other governments Proceeds from bond issuance Payments on bonds payable Acquisition of capital assets Contribution of capital assets Sale of capital assets Unearned revenue Interest paid Net cash from (for) capital and related financing activities CASH FLOWS FROM INVESTING ACTIVITIES Purchase of investments Proceeds from sales of investments Investment income received Net cash from (for) investing activities

$

Schaumburg Regional Airport

17,928,322

75,936

$

Schaumburg Hotel and Convention Center

Schaumburg Baseball Stadium

1,271,464

-

$

(756) $

141,623

Nonmajor Enterprise Funds

42,745,221

-

-

-

(3,763)

(457,392) (10,599,946) (3,947,920)

-

-

(1,211,752) (170,562)

18,681 (20,926)

(34,336,714)

-

-

-

-

2,999,000

(114,613)

138,622

-

509,058

500,000 5,991

-

(589,733) (1,250,142) 1,000,142

-

(230,087) (1,069,820)

(3,092,889) 2,670,843 128,597 (293,449)

3,200

509,191

(1,313,559) 1,408,024 11,902 106,367

- 29-

854,956

-

-

$

Internal Service Funds

Total

246,176

$ 62,190,427

-

-

148,756

366,315 851,193 (457,392) (46,332,236) (4,139,408) (6,961)

-

(202,505) (6,961)

$ 14,774,816 299,887

(13,342,422)

9,263,463

185,466

-

-

-

(442,315)

(87,290)

(156,589)

-

-

(747,531)

(442,315)

(87,290)

(1,837,765)

_ _(4,006,145)

1,524

(33,757,969) 16,789,711 391,733

(2,152,713) 354,265 34,494

(40,317,130) 21,222,843 568,250

(11,766,985) 11,766,062 399,570

1,524

(16,576,525)

(1,763,954)

(18,526,037)

(1,100,000)

-

-

12,471,938

509,058 500,000 (1,683,742) (1,779,747) 1,000,142

-

1,732,281

(4,100,445) 94,300

3,200 (386,676)

398,647

Governmental Activities

Business-Type Activities

Waterworks and Sewerage CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfer in Transfer out Due to/from other governments Due to/from other agencies Due to/from other funds Due to/from others Advances to/from other funds Unearned revenue

$

Schaumburg Regional Airport

- $ (531,048)

Schaumburg Hotel and Convention Center

Schaumburg Baseball Stadium

-

-

-

(12,334)

(504,423) 230,513

$

634,975 $ (10,000)

Nonmajor Enterprise Funds

-

$

(39,779)

67,112

541,048

$

-

5,841,712 (24,265)

(273,910)

675,196

5,617,443

$ (1,000,000)

-

90,000

(476,270)

1,176,023 (541,048) 5,841,712

37,395 (6,226)

(570,398) 230,513 157,112 (200,004)

10,403

(200,004)

Net cash from (for) noncapital financing activities

Internal Service Funds

Total

6,093,910

551,451

(968,831)

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

1,159,461

227,035

67,811

(2,137,934)

(I, II4,327)

(1,797,954)

(2,844,048)

CASH AND CASH EQUIVALENTS, MAY I

1,267,262

648,516

154,470

15,791,588

1,425,202

19,287,038

5,378,912

CASH AND CASH EQUIVALENTS, APRIL 30

$

RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH FLOWS FROM OPERATING ACTIVITIES Operating income (loss) $ Adjustments to reconcile operating income (loss) to net cash from (for) operating activities Depreciation and amortization Contributions from developers Other nonoperating income (expense) Changes in Receivables Deposits Prepaid items Inventory Accounts payable Accrued payroll Claims payable Compensated absences Other assets

2,426,723

$

82,856

$

875,55 I

(1,029,955) $

2,450,406

841,523

47,079

-

(59,560) (42,631) (3,557)

80,548

344,502 34,474

(2,967)

222,281

$

(392,776) $

342,574

13,653,654

$

(1,255,348) $

310,875

$

(535,136) $

148,756

195,835

299,887

(125,612) (42,631) 100,565 (2,456) 318,466 34,474

86,589

-

2,999,000

$

SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING, CAPITAL AND FINANCING ACTIVITIES Increase (decrease) in fair value of investments

$

(539) $

54

$

(539) $

54

12,471,938

$

$

(2,947) $

12,269

$

$

(2,947) $

12,269

$

9,263,463

$

$

$

15,701

$

$

15,701

See accompanying notes to financial statements. - 30-

861,878

$

$

138,622

140,639

145,431 978,654

982,416

(114,613) $

(10,520)

-

145,431

$

(736,098)

-

-

(3,762)

$

1,176,495

84,766 (2,456) (417,712)

308,054

(3,130,359)

2,534,864

13,999,571

(8,014)

-

$

493,271

(138,586) 19,356

17,489,084

9,871,797

-

NET CASH FROM (FOR) OPERATING ACTIVITIES

TOTAL NONCASH TRANSACTIONS

$

185,466

1,732,281

VILLAGE OF SCHAUMBURG, ILLINOIS STATEMENT OF FIDUCIARY NET ASSETS FIDUCIARY FUNDS April 30, 2009

Pension Trust ASSETS Cash and cash equivalents Investments U.S. government obligations U.S. agency obligations Mutual funds Municipal bonds Equity securities Receivables Accrued interest Other

$

5,273,607

Agency

$

170,387

28,395,673 54,256,241 5,212,456 666,723 31,954,028

Total assets LIABILITIES Accounts payable Deposits Advance from other funds

711,170 34,883

437,090

126,504,781

607,477

45,810 170,387 437,090

Total liabilities

45,810

NET ASSETS HELD IN TRUST FOR PENSION BENEFITS

$ 126,458,971

See accompanying notes to financial statements.

- 31 -

607,477

$

VILLAGE OF SCHAUMBURG, ILLINOIS STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS PENSION TRUST FUNDS For the Fiscal Year Ended April 30, 2009

ADDITIONS Contributions Employer Plan members Miscellaneous revenue Creditable service transfer

$

5,659,402 1,948,775 336 95,360

Total contributions

7,703,873

Investment income Net depreciation in fair value of investments Interest and dividends

(17,060,641) 4,667,262

Total investment loss Less investment expense

(12,393,379) 431,857 (12,825,236)

Net investment loss

(5,121,363)

Total additions DEDUCTIONS Benefits Administrative

7,674,498 133,079 7,807,577

Total deductions

( 12,928,940)

NET (DECREASE) NET ASSETS HELD IN TRUST FOR PENSION BENEFITS

139,387,911

May 1 $

April 30

See accompanying notes to financial statements.

- 32 -

126,458,971

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS April 30, 2009

INDEX Title

Note

Page

1

Summary of Significant Accounting Policies

34

2

Legal Compliance and Accountability

41

3

Deposits and Investments

42

4

Receivables

45

5

Capital Assets

47

6

Risk Management

49

7

Long-Term Debt

50

8

Tax Increment Financing

56

9

Interfund Balances

57

10

Contingent Liabilities

60

11

Joint Venture

61

12

Baseball Stadium

61

13

Defined Benefit Pension Plans

62

14

Other Postemployment Benefits

69

- 33 -

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS April 30, 2009

I.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Village of Schaumburg, Illinois (the Village) was incorporated on March 7, 1956. The Village operates under a board-manager form of government as a home rule community (as defined by the State of Illinois Constitution) and provides the following services as authorized by its charter: public safety (police and fire), highway and street maintenance, water and sewer utility, public improvements, planning and zoning, health and social services, culture, recreation and general governmental administrative services. The accompanying financial statements of the Village have been prepared in conformity with accounting principles generally accepted in the United States of America, as applied to government units (hereinafter referred to as generally accepted accounting principles (GAAP». The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. The more significant of the Village's accounting policies are described below. The Village of Schaumburg's fiscal year end is April 30 of each year. The accompanying financial statements of the Village are for the fiscal year ended April 30, 2009. The Schaumburg Hotel and Convention Center has a fiscal year-end as of the Friday closest to December 31 in any calendar year, effective with the fiscal period beginning May 1, 2006. Amounts included in this report are as of and for the year ended January 2,2009. a.

Reporting Entity The financial reporting entity consists of the primary government, as well as its component units, which are legally separate organizations for which the elected officials of the primary government are financially accountable. Financial accountability is defined as: 1) Appointment of a voting majority of the component unit's board, and either a) the ability to impose will by the primary government, or b) the possibility that the component unit will provide a financial benefit to, or impose a financial burden on, the primary government; or 2) Fiscal dependency on the primary government.

Blended Component Units Police Pension Plan: The Village's police employees participate in the Police Pension Plan, which is governed by a separate board. The Village is obligated to fund the Police Pension Plan costs based upon actuarial valuations. Firefighters' Pension Plan: The Village's firefighter employees participate in the Firefighters' Pension Plan, which is governed by a separate board. The Village is obligated to fund the Firefighters' Pension Plan costs based upon actuarial valuations.

- 34 -

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

I.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) b. Basis of Presentation - Fund Accounting The accounts of the Village are organized based on funds, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures, or expenses, as appropriate. Government resources are allocated to and accounted for in individual funds based on the purposes for which they are to be spent and the means by which spending activities are controlled. Funds are classified into the following categories: governmental, proprietary, and fiduciary. Governmental Funds Governmental funds are those through which most governmental functions of the Village are financed. The Village's expendable financial resources (except those accounted for in proprietary funds) are accounted for through governmental funds. The measurement focus is based upon determination of changes in financial position, rather than upon net income determination. The following are the Village's governmental fund types: General Fund - The General Fund is the general operating fund of the Village. It is used to account for all financial resources except those required to be accounted for in another fund. Special Revenue Funds - The Special Revenue Funds are used to account for the proceeds of specific revenue sources (other than major capital projects) that are legally restricted to expenditures for specified purposes. Debt Service Funds - The Debt Service Funds are used to account for the accumulation of resources for, and the payment of, general obligation long-term debt principal, interest, and related costs (other than those financed by proprietary funds). Capital Projects Funds - The Capital Projects Funds are used to account for financial resources to be used for the acquisition or construction of major capital items (other than those financed by proprietary funds). Proprietary Funds Proprietary Funds are used to account for the Village's ongoing activities that are similar to those found in the private sector. The measurement focus is based on the determination of net income. These funds account for operations (a) that are financed and operated in a manner similar to private business enterprises where the intent of the governing body is that the costs (expenses, including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges or (b) where the governing body has 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 purposes. The following are the Village's proprietary fund types: Enterprise Funds - Enterprise Funds provide goods and services to customers outside the primary government.

- 35 -

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

1.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) b.

Basis of Presentation - Fund Accounting (Continued) Internal Service Funds - Internal Service Funds are used to account for goods and services where the customers are within the primary government. Fiduciary Funds Fiduciary Funds are used to account for assets held by the Village in a trust capacity or as an agent for individuals, private organizations, other governmental units, and/or other funds. The Village utilizes pension trust funds and agency funds, which are generally used to account for assets that the Village holds in a fiduciary capacity or on behalf of others as their agent.

c.

Government-Wide and Fund Financial Statements The government-wide financial statements (i.e., the statement of net assets and the statement of activities) report information on all of the nonfiduciary activities of the Village. The effect of material interfund activity has been eliminated from these statements. Interfund services provided and used are not eliminated in the process of consolidation. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant extent on fees and charges for support. The statement of activities demonstrates the degree to which the direct expense of a given function, segment, or program are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges 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 shared revenues that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues. Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds, even though the latter are excluded from the government-wide financial statements. M~or individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements. The Village reports the following major governmental funds: The General Fund is used to account for the resources traditionally associated with governments which are not required to be accounted for in another fund. The Olde Schaumburg Centre Special Allocation Fund (Tax Increment Area Number One) is used to account for the financial resources to be used for the construction of various corporate, public works, and community development projects. Financing is provided by incremental property taxes. The Capital Improvements Fund is used to account for financial resources to be used for the acquisition or construction of major capital facilities. Financing is provided by developer and intergovernmental contributions.

- 36-

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

1.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) c.

Government-Wide and Fund Financial Statements (Continued) The 2008 Project Fund is used to account for the financial resources to be used for the Village's current capital improvement program consisting of various public works improvements and community development projects within the tax increment financing district, including, but not limited to, Pleasant Square detention and infrastructure improvements, parking lot expansion, various traffic signals, streets and sidewalk improvements, and to pay the costs of the issuance of the bonds. The Village reports the following major enterprise funds: The Waterworks and Sewerage Fund accounts for the provision of water and sewer services to the residents and businesses of the Village financed by user fees. The Schaumburg Regional Airport Fund accounts for the operating revenue and expenses of the V illage of Schaumburg Regional Airport. The Schaumburg Baseball Stadium Fund accounts for the operating revenue and expenses of the Village's share of the Schaumburg Baseball Stadium. The Schaumburg Hotel and Convention Center Fund accounts for the operating revenue and expenses of the Village of Schaumburg Hotel and Convention Center. Additionally, the Village reports the following internal service funds: The Vehicle Replacement Fund accounts for the costs of providing certain operating vehicles used by Village departments. Financing is provided by charges to other funds. The Technology Replacement Fund accounts for the costs of providing certain office equipment used by Village departments. Financing is provided by charges to other funds. The Building Replacement Fund accounts for the costs of maintaining certain buildings used by Village departments. Financing is provided by charges to other funds. The Risk Management Fund accounts for the servicing and payment of claims for liability, property, casualty, worker's compensation, and medical benefits. Financing is provided by charges to the various Village funds. The Village reports pension trust funds as fiduciary funds to account for the Police Pension Fund and Firefighters' Pension Fund. Furthermore, the Village reports the following agency funds as fiduciary funds: Builders' Escrow and Special Service Area Numbers Six through Eleven.

- 37 -

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

I.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) d.

Measurement Focus, Basis of Accounting and Financial Statement Presentation The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary fund and fiduciary fund financial statements, with the exception of the agency fund financial statements, which have no measurement focus. Revenues and additions are recorded when earned and expenses and deductions are recorded when a liability is incurred. Property taxes are recognized as revenues in the year for which they are levied (i.e., intended to finance). Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. Operating revenues/expenses include all revenues/expenses directly related to providing enterprise fund services. Incidental revenues/expenses are reported as nonoperating. Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. The Village considers revenues to be available if they are collected within 60 days of the end of the current fiscal period, except sales and telecommunications taxes, which are 90 days, and intergovernmental revenues which are individually determined by their own legal and contractual requirements. Expenditures generally are recorded when a fund liability is incurred. However, debt service expenditures are recorded only when payment is due. Property taxes, sales taxes owed to the state at year-end, franchise taxes, licenses, and interest associated with the current fiscal period are all considered susceptible to accrual and are recognized as revenues of the current fiscal period. Licenses and permit fees, charges for services (other than enterprise funds), and miscellaneous revenues are recorded as revenues when received in cash because they are generally not measurable until actually received. In applying the susceptible to accrual concept to intergovernmental revenues (i.e., federal and state grants), the legal and contractual requirements of the numerous individual programs are used as guidance. There are, however, essentially two types of these revenues. In one, monies must be expended on the specific purpose or project before any amounts will be paid to the Village; therefore, revenues are recognized based upon the expenditures/expenses recorded. In the other, monies are virtually unrestricted as to purpose of expenditure/expense and are generally revocable only for failure to comply with prescribed eligibility requirements, such as equal employment opportunity. These resources are reflected as revenues at the time of receipt or earlier if they meet the availability criterion. The Village reports unearned revenue on its financial statements. Unearned revenues arise when potential revenue does not meet both the measurable and available or earned criteria for recognition in the current period. Unearned revenues also arise when resources are received by the Village before it has a legal claim to them or prior to the provision of services, as when grant monies are received prior to the incurrence of qualifying expenditures/expenses. In subsequent periods, when both revenue recognition criteria are met, or when the Village has a legal claim to the resources, the liability for unearned revenue is removed from the financial statements and revenue is recognized.

- 38 -

I----~~----------------------------------------

! I

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

L

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) e.

Cash and Investments Cash and Cash Equivalents For purposes of the statement of cash flows, the Village's proprietary funds consider their equity in pooled cash and alJ highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Investments Investments with a maturity of one year or greater at the time of purchase and all investments of the pension funds are stated at fair value except for non-negotiable certificates of deposit which are recorded at cost. Fair value has been based on quoted market prices at April 30, 2009 for debt and equity securities and contract values for insurance contracts.

f.

Interfund Receivables/Payables During the course of operations, numerous transactions occur between individual funds for goods provided or services rendered. These short-term receivables and payables are classified as "due from other funds" or "due to other funds" on the balance sheet. Long-term interfund loans are classified as advances to/from.

g.

Receivables Receivables consist primarily of tax increment financing property taxes, intergovernmental, user fees, and other miscellaneous amounts due the Village.

h.

Inventories Inventories are valued at cost, which approximates market, using the first-in/first-out (FIFO) method. The costs of governmental inventories, if any, are recorded as expenditures when consumed rather than when purchased.

1.

Compensated Absences Vested or accumulated vacation leave, compensatory time off, longevity pay, and accumulated sick leave for those eligible for the sick time reimbursement plan that is due to employees who have retired or terminated by the end of the year is reported as an expenditure and a fund liability of the governmental fund that will pay it. Vested or accumulated vacation leave, compensatory time off, longevity pay, and accumulated sick leave for those eligible for the sick time reimbursement plan of proprietary funds and governmental activities are recorded as an expense and liability of those funds as the benefits accrue to employees. No liability is recorded for nonvesting accumulating rights to receive sick pay benefits, as this liability is recognized only when the rights are used.

~

39-

VILLAGE OF SCHAUMBURG, ILLINOIS NQTES TO FINANCIAL STATEMENTS (Continued)

1.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) J.

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 financial statements. Bond premiums and discounts, as well as issuance costs, are unearned and amortized over the life of the bonds. Bond issuance costs are reported as unearned charges and amortized over the term of the related debt. 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 expenditures.

k.

Fund BalanceslNet Assets In the fund financial statements, governmental funds report reservations of fund balance for amounts that are not available for appropriation or are legally restricted by outside parties for use for a specific purpose. Designations of fund balance represent management plans that are subject to change. In the government-wide financial statements, restricted net assets are legally restricted by outside parties for a specific purpose. Capital assets, net of related debt, is the book value of the capital assets less the outstanding principal balance of long-term debt issued to construct or acquire the capital asset. $1,317,225 of the Village's restricted net assets (all highways and streets and a portion of restricted for other) is a result of enabling legislation. This number is comprised of $253,004 for foreign fire insurance expenses, $42,006 for DUI technology expenses, $30,238 for drug seizure expenses, and $991,977 for Motor Fuel Fund expenses.

1.

Interfund Transactions Interfund service transactions are accounted for as revenues, expenditures, or expenses. Transactions that constitute reimbursements to a fund for expenditures/expenses initially made from it that are properly applicable to another fund are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/ expenses in the fund that is reimbursed. All other interfund transactions, except interfund service transactions and reimbursements, are reported as transfers.

- 40 -

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

1.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) m. Capital Assets Capital assets, which include property, plant, equipment, and infrastructure assets (e.g., roads, bridges, storm sewers and similar items), are reported in the applicable governmental or business-type activities columns in the government-wide financial statements. Capital assets are defined by the Village as assets with an initial, individual cost of more than $20,000 ($50,000 for infrastructure) and an estimated useful life in excess of one year. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at estimated fair market value at the date of donation. The costs of normal maintenance and repairs, including street overlays, that do not add to the value or service capacity of the asset or materially extend asset lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest incurred during the construction phase of capital assets of business-type activities is included as part of the capitalized value of the assets constructed. Property, plant, and equipment are depreciated using the straight-line method over the following estimated useful lives: Land improvements Buildings and improvements Furniture and fixtures Machinery and equipment Roads Bridges Wells and water mains

2.

.

.

~

7-10 years 20-45 years 3-15 years 3-15 years 40 years 40 years 40 years

LEGAL COMPLIANCE AND ACCOUNTABILITY Deficit Fund Balances/Net Assets of Individual Funds The following fund had a deficit fund balance/net assets as of April 30, 2009: Deficit Balance

Fund Special Assessment #3 - Construction

$31,600

This deficit will be funded by future operating revenues.

- 41 -

----------~~~~~~~~~--------------~~-~~~~-~~~-

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

3.

DEPOSITS AND INVESTMENTS Deposits and investments are held separately and in pools by several of the Village's funds. The Village invests these funds pursuant to investment guidelines established by the Board of Trustees and by the Village's Director of Finance. The deposits and investments of the Pension Trust Funds are held separately. Investments in The Illinois Funds, a money market pool created by the Illinois State Legislature under the control of the Illinois State Treasurer, are reported at $1 per share value, which equals the Village's fair value of the pool. Illinois Metropolitan Investment Fund (!MET) is a not-for-profit investment trust formed pursuant to the Illinois Municipal Code and managed by a Board of Trustees elected from the participating members. IMET is not registered with the Securities and Exchange Commission (SEC) as an investment company. Investments in IMET are valued at IMET's share price, the price for which the investment could be sold. a.

Deposits At year-end, the carrying amount of the Village's deposits, including the pension funds, totaled $26,086,818 and the bank balances totaled $26,925,589 (cash on hand of $3,350 has been excluded). The bank balances are covered by federal depository insurance or by collateral held by the Village, or its agent, in the Village's name. To guard against credit risk for deposits with financial institutions, the Village's investment policy requires that deposits with financial institutions in excess of the Federal Deposit Insurance Corporation (FDIC) insurance be collateralized with collateral in an amount of 110% of the uninsured deposits.

b.

Investments As of April 30, 2009, the Village had the following investments and maturities. Investment Maturities 6 months 6 months to 1 year

oto

Fair Value The Illinois Funds

$ 28,450,885

$ 28,450,885

Money Market Mutual Fund IMET U.S. Treasury Bills U.S. Treasury Strips U.S. Agency Securities TOTAL

130,384 835,601 10,123,313 25,807,601 1,609,875 $ 66,957,659

130,384

- 42-

$

1 to 5 years $

835,601 10,123,213 11,349,319

10,023,182

$ 50,053,901

$ 10,023,182

4,435,100 1,609,875 $ 6,880,576

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

3.

DEPOSITS AND INVESTMENTS (Continued) b.

Investments (Continued) As of April 30, 2009, the Police Pension Fund had the following investments and maturities. Investment Maturities

The Illinois Funds Equity Securities U.S. Treasury Strips U.S. Treasury Notes U.S. Treasury Bonds U.S. Agency Securities Mortgage-Backed Securities TOTAL

Fair Value $ 266,390 19,877,879 3,650,331 2,827,968 4,421,517

Less than 1 year $ 266,390 19,877,879

16,863,366

557,221

11,784,329

$ 59,691,780

1 to 5 years $

6 to 10 years $

More than 10 years $ 1,181,228

1,393,783 536,406 2,096,221

2,325,296

11,543,438

4,251,590

511,117

40,970

762,071

6,011,781

4,969,507

$ 20,742,460

$ 15,672,391

$ 14,289,781

$ 8,987,148

1,075,320 2,291,562

As of April 30, 2009, the Firefighters' Pension Fund had the following investments and maturities. Investment Maturities

The Illinois Funds Mutual Funds Equity Securities Municipal Bonds U.S. Treasury Bill U.S. Treasury Strips U.S. Treasury Notes U.S. Treasury Bonds U.S. Agency Securities Mortgage-Backed Securities TOTAL

Fair Value $ 896,771 5,212,457 12,076,149 666,723 249,062 7,101,177 6,479,565 3,666,052

Less than 1 year $ 896,771 5,212,457 12,076,149 101,631

I to 5 years $ -

6 to 10 years $

337,824

1,790,049

227,268 249,062 1,440,840 2,773,014

13,135,894

352,007

12,472,651

$ 61,956,501

More than 10 years $

4,662,840 1,041,284 1,647,997

997,497 875,218 2,018,055

8,284,256

3,964,713

534,918

704

86,823

2,761,728

9,623,396

$ 20,429,768

$ 13,061,263

$ 14,416,386

$ 14,049,084

- 43 -

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

3.

DEPOSITS AND INVESTMENTS (Continued) b.

Investments (Continued) Interest Rate Risk In accordance with the investment policy, the Village, Police Pension Fund, and Firefighters' Pension Fund limit their exposure to interest rate risk by structuring the portfolios to meet the daily cash flow demands while providing the highest investment return with the maximum security. The portion of the Village's portfolio that is invested with the Illinois Metropolitan Investment Fund (IMET) has an average maturity of 1.64 years and a duration of 1.71 years, and is subject to interest rate risk. Credit Risk The Village, Police Pension Fund, and Firefighters' Pension Fund limit their exposure to credit risk, the risk that the issuer of a debt security will not pay its par value upon maturity, by primarily investing in securities issued by agencies of the United States Government that are legally or implicitly guaranteed by the United States Government. The various agency securities are not rated, but the overall ratings of the agency's long-term debt are Aal as rated by Moody's Investors Service and AA+ by Standard & Poor's. The Illinois Funds, a state investment pool, was rated AAAm by Standard & Poor's and the IMET fund was rated AAAf/s1 by Moody's Investors Service. The money market mutual fund held by the Bank of New York was rated Aaa by Moody's Investors Service and AA by Standard & Poor's. Concentration of Credit Risk In order to limit its exposure to concentration of credit risk, the Village's investment policy limits the investment in anyone financial institution to twenty-five percent (25%), exclusive of any United States treasury or agency securities held in safekeeping by that institution on the Village's behalf, up to forty percent (40%) in Illinois Funds, and up to twenty-five percent (25%) for IMET. At April 30, 2009, the Village had 32.14% invested in The Illinois Funds. Concentration of credit risk excludes investments that are issued or explicitly guaranteed by the U.S. government and investments in mutual funds. At April 30, 2009, the Police Pension Fund had 28.2% invested in U.S. Agency Securities. It is the policy of the Police Pension Fund to invest a maximum of 85% in U.S. Treasury Bonds and Agency Securities. At April 30, 2009, the Firefighters' Pension Fund had 20.1 % invested in Mortgage-Backed Securities. It is the policy of the Fire Pension Board to invest a maximum of 85% in U.S. Treasury Bonds and Agency Securities. The Pension Fund also owns three municipal bonds. All bonds are insured and have received an Aaa rating from Moody's and AAA from Standard and Poor's.

- 44-

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

3.

DEPOSITS AND INVESTMENTS (Continued) b.

Investments (Continued) Custodial Credit Risk The Village, Police Pension Fund, and Firefighters' Pension Fund limit their exposure to custodial credit risk, the risk that, in the event of the failure of the counterparty, the Village or Pension Funds will not be able to recover the value of their investments or collateral securities that are in the possession of an outside party, by utilizing independent third-party institutions, selected by the Village or Pension Funds, to act as custodians for their securities and collateral. Foreign Currency Risk The Village's investments are not denominated in foreign currency and, therefore, are not subject to foreign currency risk. The Police Pension Fund's investment policy permits it to invest up to twenty percent (20%) of total investments in international equity funds, and its current position is 10.3%. The Fund's investments are not denominated in foreign currency and, therefore, are not subject to foreign currency risk. The Firefighters' Pension Fund's investment policy permits it to invest up to five percent (5%) of total investments in international equity funds and its current position is 3.3%. The Fund's investments are not denominated in foreign currency and, therefore, are not subject to foreign currency risk.

4.

RECEIVABLES Property Taxes The Village does not levy a property tax for corporate purposes. It does levy taxes for payment of special service area bonds and receives, but does not levy for road and bridge and tax increment financing district property taxes. The Village's property tax is levied each calendar year on all taxable real property located within the applicable Special Service Area. Governmental funds' property taxes which are due within the current fiscal year, the year intended to finance, and collected within 60 days subsequent to year-end are recorded as revenue. The County Assessor is responsible for assessment of all taxable real property within the County, except for certain railroad property, which is assessed directly by the state. Reassessments occur based on market conditions. The County Clerk computes the annual tax for each parcel of real property and prepares tax books used by the County Collector as the basis for issuing tax bills to all taxpayers in the County.

- 45 -

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

4.

RECEIVABLES (Continued) Property Taxes (Continued) Property taxes are collected by the County Collector and are submitted to the County Treasurer, who remits to the units their respective shares of the collections. Taxes levied in one year become due and payable in two installments on March 1 and September 1 during the following year. Taxes must be levied by the last Tuesday in December of the levy year and the levy becomes an enforceable lien against the property as of January 1 of the levy year. The 2008 tax levy collections are intended to finance the 2010 fiscal year, are not considered available for current operations, and are, therefore, shown as unearned revenue. The 2009 tax levy has not been recorded as a receivable at April 30, 2009, as the tax attached as a lien on property as of January 1, 2009; however, the tax will not be levied until December 2009 and, accordingly, is not measurable at April 30, 2009. OTHER RECEIVABLES

Locally imposed Hotel Tax Amusement tax Food and beverage tax Total locally imposed Fines and fees Ambulance fees False alarms Miscellaneous Total fines and fees Other receivables Community grant rehabilitation Hotel charges Airport rentals Baseball rentals Miscellaneous Total other Loans Due from others TOTAL OTHER RECEIVABLES DUE FROM OTHER GOVERNMENTS

Sales tax Income tax Home rule sales tax Transit program Motor fuel tax allotments Telecommunications tax Schaumburg Park District Miscellaneous TOTAL DUE FROM OTHER GOVERNMENTS

1-------

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

5. CAPITAL ASSETS The following is a summary of capital asset activity during the fiscal year: Beginning Balance GOVERNMENTAL ACTIVITIES Capital assets not being depreciated Land Land right of way Construction in progress Internal service assets Construction in progress Total capital assets not being depreciated Capital assets being depreciated Land improvements Buildings Machinery and equipment Roads Bridges Internal service assets Land improvements Building improvements Machinery and equipment Total capital assets being depreciated

Increases

Decreases

Ending Balance

$ 13,498,725 35,488,291

$ 11,598,078 35,488,291 35,095

$ 1,900,647

$

26,847

61,942

44,358

595,169

11,100

628,427

47,165,822

2,522,663

73,042

49,615,443

5,948,160 44,017,662 10,818,513 115,117,631 2,968,500

87,608 142,205

306,929

5,728,839 44,159,867 10,763,869 116,190,352 2,968,500

1,831,337

54,644 758,616

967,734 9,743,978

737,728 358,009 2,019,502

714,969

737,728 1,325,743 11,048,511

189,582,178

5,176,389

1,835,158

192,923,409

3,583,730 12,912,177 6,721,928 64,305,691 1,074,738

371,761 1,086,666 1,056,063 2,669,837 74,212

306,929

3,648,560 13,998,843 7,727,852 66,387,601 1,148,950

120,171 5,993,381

18,443 48,834 881,790

714,969

18,443 169,005 6,160,202

Total accumulated depreciation

94,711,816

6,207,606

1,659,966

99,259,456

Total capital assets being depreciated, net

94,870,362

(1,031,217)

175,192

93,663,953

$142,036,183

$1.491,447

$248,234

$143,279,396

Less accumulated depreciation for Land improvements Buildings Machinery and equipment Roads Bridges Internal service assets Land improvements Building improvements Machinery and equipment

GOVERNMENT ACTIVITIES CAPITAL ASSETS, NET

Reconciling item to account for internal service fund assets Total governmental activities capital assets, excluding internal service funds - 47 -

50,140 587,928

(7,392,759) $135,886,637

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued) 5.

CAPITAL ASSETS (Continued)

Beginning Balance BUSINESS-TYPE ACTIVITIES Capital assets not being depreciated Land Construction in progress Total capital assets not being depreciated Capital assets being depreciated Land improvements Buildings Machinery and equipment Furniture and fixtures Wells and water mains Internal service equipment Total capital assets being depreciated Less accumulated depreciated for Land improvements Buildings Machinery and equipment Furniture and fixtures Wells and water mains Internal service equipment Total accumulated depreciation

$ 29,419,114

Increases

Ending Balance

Decreases

$

$

-

29,419,114

$ 29,419,114

29,419,114

20,591,928 257,029,859

139,107 298,397

20,731,035 257,328,256

2,056,969 21,479,756 102,004,940 2,672,852

87,290 4,810 1,250,143 442,805

190,663

2,144,259 21,484,566 103,255,083 2,924,994

405,836,304

2,222,554

190,663

407,868,195

13,778,666 16,437,234 781,647 6,133,584 68,917,713 1,658,265 107,707,109

1,433,818 5,896,373 239,942 4,109,715 2,203,371 227,429 14,110,648

190,663 190,663

15,212,484 22,333,607 1,021,589 10,243,299 71,121,084 1,695,031 121,627,094

Total capital assets being depreciated, net

298,129,195

(11,888,094)

BUSINESS-TYPE ACTIVITIES CAPITAL ASSETS, NET

$327,548,309

$(11,888,094)

286,241,101

$

$315,660,215

Depreciation expense was charged to the governmental activities functions/programs as follows: GOVERNMENTAL ACTIVITIES General government Public safety Public works, including depreciation of general infrastructure assets Health and welfare Culture and recreation Internal service funds TOTAL DEPRECIATION EXPENSE - GOVERNMENTAL ACTIVITIES

- 48-

$ 571,532 683,856 3,884,161 10,845 108,145 949,067 $ 6,207,606

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

6.

RISK MANAGEMENT Self-Insurance Program The Village 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 Village's employees. The Village also offers two health plans for employee health and dental insurance: a self-insured indemnity plan and a conventional HMO plan. These risks are provided for through a limited self-insurance program. The Village is self-insured for the first $50,000 for property claims, $125,000 per employee for medical claims, $100,000 for liability claims, and $550,000 for worker's compensation claims. The Village has contracted with third-party administrators (TPAs) to administer these insurance programs and to review and process claims. Commercial insurance is carried for amounts in excess of the self-insured amounts. There have been no significant reductions in insurance coverage during the current year. For all insured programs, settlement amounts have not exceeded insurance coverage for the current or two prior years. The Village's selfinsurance activities are reported in the Risk Management Fund. Premiums are paid by the Risk Management Fund based upon historical cost estimates. Liabilities are reported when it is probable that a loss has occurred and the amount of the loss can be reasonably estimated. A reconciliation of claims liability for the current year and that of the preceding year is reported below. General Liability 2009 2008 Claims Liability, May I

Worker's Compensation 2008 2009

Medical 2009

2008

$ 499,422

104,703

$1,083,806

$ 1,160,952

$636,218

$ 470,356

Add Claims Incurred

718,949

754,076

1,335,434

875,545

6,166,411

4,929,906

Less Claims Paid Claims Liability, April 30

(428,762)

(359,357)

(1,065,921)

(952,691 )

( 5,864,233)

(4,764,044)

$ 938,396

$ 636,218

$ 789,609

$ 499,422

$ 1,353,319

- 49-

$ 1,083,806

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

7.

LONG-TERM DEBT The following is a summary of changes in bonds, notes, and other long-term liabilities during the year ended April 30, 2009.

May 1

Additions

GOVERNMENTAL ACTIVITIES $64,240,605 $ 8,500,000 General Obligation Bonds 5,091,650 1,726,671 Compensated absences payable 30,376 Capital lease payable TOTAL GOVERNMENTAL ACTIVITIES

Refundings/ Reductions

April 30

Due Within One Year

$5,715,267 $67,025,338 $ 6,735,338 743,075 6,075,246 474,813 12,057 18,319 12,981

$69,362,631 $ 10.226,671 $ 6.470,399 $73,118,903 $ 7,223,132

In governmental activities, compensated absences are liquidated by the General Fund.

The following is a summary of changes in bonds, notes, and other long-term liabilities during the year ended April 30, 2009.

May 1

Additions

Refundings/ Reductions

April 30

Due Within One Year

BUSINESS-TYPE ACTIVITIES General Obligation Bonds Schaumburg Regional Airport 500,000 $ 105,000 General Obligation Bonds $ - $ - $ 500,000 $ Schaumburg Baseball Stadium 1,100,000 6,300,000 1,100,000 7,400,000 General Obligation Bonds Waterworks and Sewerage 609,662 5,029,662 589,733 5,619,395 General Obligation Bonds Schaumburg Convention Center 228,690,000 - 228,690,000 General Obligation Bonds Compensated absences payabIe _ _--::!4~0~5,~1~37!....--~17~8~,7~0~0:--_-,1C-':2~,80'21.=,,2_ _--'5'--.!.72.1"'-',0,-=2""-5_ _-",2,-"-0-,--,.4,-, ,-, , 56 TOTAL BUSINESS-TYPE ACTIVITIES

$242.114,532

$678.700

$1.702,545 $241.090,687

$1.835.118

In business-type activities, compensated absences are liquidated by the Waterworks and Sewerage Fund and the Airport Fund.

- 50 -

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

7.

LONG-TERM DEBT (Continued) a.

Bonds Payable General Obligation Bonds Total

Due Within One Year

GOVERNMENTAL ACTIVITIES $33,875,000 2002A General Obligation serial bonds, due in annual installments of$I,125,000 to $2,585,000 through 2021 plus interest from 4.00% to 5.50% due January 1 and July 1 $ 20,995,000

$ 2,580,000

$17,050,000 2004A General Obligation serial bonds, due in annual installments of $655,000 to $1,185,000 through 2024 plus interest from 3.00% to 5.00% due June 1 and December 1

14,385,000

695,000

$4,505,000 2004B General Obligation serial bonds, due in annual installments of $160,000 to $325,000 through 2025 plus interest from 2.00% to 5.25% due June 1 and December 1

3,845,000

175,000

$21,180,000 2005A General Obligation serial bonds, due in annual installments of $815,000 to $1,540,000 through 2024 plus interest from 3.250% to 4.375% due June 1 and December 1

18,670,000

885,000

630,338

630,338

$3,320,000 2005B General Obligation serial bonds, due in annual installments of$558,709 to $630,338 through 2009 plus interest of 5.00% due June 1 and December 1

$8,500,000 2008 General Obligation serial bonds, due in annual installments of $945,000 to $2,010,000 through 2013 plus interest from 3.00% to 3.25% due June 1 and December 1 _~8=,5~0.::!.;0,~0~00~_1~,.!.-77~0~,0~0~0

$ 67,025,338

TOTAL

- 51 -

$ 6,735.338

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

7.

LONG-TERM DEBT (Continued) a. Bonds Payable (Continued) General Obligation Bonds (Continued) Total

Due Within One Year

BUSINESS-TYPE ACTIVITIES Schaumburg Convention Center Fund $228,690,000 2004B General Obligation serial bonds, due in annual installments of $390,000 to $19,450,000 from 2011 through 2042 $228,690,000 $ plus interest from 2.50% to 5.25% due June 1 and December 1 Schaumburg Baseball Stadium Fund *$12,200,000 1998A General Obligation variable rate demand bonds, due in annual installments of $600,000 to $1,100,000 through 2013 plus variable interest due monthly

$ 5,000,000 $

900,000

1,300,000

200,000

*$2,800,000 1998B General Obligation variable rate demand bonds, due in annual installments of $1 00,000 to $300,000 through 2013 plus variable interest due monthly

$ 6,300,000 $ 1,1 00,000

Total Schaumburg Baseball Stadium Fund Waterworks and Sewerage Fund

$6,125,000 2004B General Obligation serial bonds, due in annual installments of $325,000 to $525,000 through 2020 plus interest from 2.50% to 5.25% due June 1 and December 1 $ 4,780,000 $

360,000

$3,320,000 2005B General Obligation serial bonds, due in annual installments of $221,291 to $249,662 through 2009 plus interest of 5.00% due June 1 and December 1

249,662

249,662 $

5,029,662 $

$500,000 2008 General Obligation serial bonds, due in annual installments of$55,000 to $120,000 through 2013 plus interest from 3.00% to 3.25% due June 1 and December 1

$

500,000

TOTAL

$ 240,519.662

Total Waterworks and Sewerage Fund

609,662

Schaumburg Airport Fund

$

105,000

$1.814,662

*These bonds described above from time to time bear interest under three different modes and may be converted from one mode to another, and each series may be outstanding in more than one mode. The modes permitted by the indenture provide for payment to the holder of par and accrued interest on notice of a weekly period, commercial paper periods of up to 360 days, and adjustable periods of not less than one month and other periods up to maturity of the bonds. Effective March 1, 2000, purchases of the bonds tendered for all issues described above, to the extent not remarketed, will initially be funded under Stand-by Bond Purchase Agreements with JP Morgan Chase Bank, National Association, and the Northern Trust Company (the Banks). The Stand-by-Bond - 52 -

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

7.

LONG-TERM DEBT (Continued) a. Bonds Payable (Continued) General Obligation Bonds (Continued) Purchase Agreements initially expired on March 1,2003, and, as such, amendments extending the expiration date were executed. The current agreements expire on March 31, 2012. The Stand-by-Bond Purchase Agreements are subject to a commitment fee of 0.125% of the outstanding principal balance of the bonds not purchased under these agreements. Bonds purchased by the Banks under these agreements shall thereupon come payable to the Banks in ten semiannual installments beginning after the expiration date of these agreements in effect at the time of bond purchase. b. Capital Lease Governmental Activities (General Fund) $21,825 Capital lease agreement with GE Capital Public Finance commencing September 9,2005, due in monthly installments of $363.75 through August 1,2010.

$

$47,700 Capital lease agreement with Oce Financial Services Inc. commencing October 3, 2005, due in monthly installments of$795 through September 3,2010.

- 53 -

$

18,319

4140

8,841

12,737 $

TOTAL

5,582

$

12,981

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

7.

LONG-TERM DEBT (Continued) c.

Debt Requirements to Maturity (Continued)

The annual requirements to amortize all debt outstanding as of April 30, 2009 are as follows:

April 30 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 TOTAL

Government Activities General Obligation Bonds* Principal Interest Total

Business-Type Activities General Obligation Bonds Total Interest Principal

$6,735,338 6,155,000 6,450,000 6,495,000 5,505,000 3,175,000 3,260,000 3,340,000 3,420,000 3,510,000 3,710,000 3,810,000 2,690,000 2,800,000 2,920,000 3,050,000

$2,901,944 2,652,064 2,421,464 2,162,939 1,887,509 1,635,771 1,491,896 1,344,326 1,191,711 1,034,691 878,773 709,415 530,275 407,937 278,550 142,876

$9,637,282 8,807,064 8,871,464 8,657,939 7,392,509 4,810,771 4,751,896 4,684,326 4,611,711 4,544,691 4,588,773 4,519,415 3,220,275 3,207,937 3,198,550 3,192,876

$1,814,662 1,675,000 2,190,000 2,445,000 2,815,000 1,735,000 2,075,000 1,980,000 2,370,000 2,765,000 3,190,000 3,075,000 3,515,000 3,965,000 4,455,000 4,975,000 5,525,000 6,110,000 6,730,000 7,390,000 8,085,000 8,665,000 9,470,000 10,320,000 11,225,000 12,185,000 13,320,000 14,360,000 15,465,000 16,630,000 18,145,000 19,450,000 12,405,000

$11,833,400 11,694,661 11,750,894 11,663,382 11,462,328 11,466,808 11,397,407 11,312,332 11,230,163 11,129,438 11,010,542 10,870,183 10,733,345 10,573,413 10,375,163 10,152,412 9,903,662 9,627,412 9,321,913 8,985,412 8,615,913 8,211,662 7,756,750 7,259,575 6,717,775 6,128,463 5,488,750 4,822,750 4,104,750 3,331,500 2,500,000 1,592,750 620,250

$13,648,062 13,369,661 13,940,894 14,108,382 14,277,328 13,201,808 13,472,407 13,292,332 13,600,163 13,894,438 14,200,542 13,945,183 14,248,345 14,538,413 14,830,163 15,127,412 15,428,662 15,737,412 16,051,913 16,375,412 16,700,913 16,876,662 17,226,750 17,579,575 17,942,775 18,313,463 18,808,750 19,182,750 19,569,750 19,961,500 20,645,000 21,042,750 13,025,250

$67,025,338

$21,672,141

$88,697,479

$240,519,662

$283,645,158

$524,164,820

- 54-

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

7.

LONG-TERM DEBT (Continued) c.

Debt Requirements to Maturity (Continued)

April 30 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042

Total General Obligation Bonds* Total Interest Principal $ 8,550,000 7,830,000 8,640,000 8,940,000 8,320,000 4,910,000 5,335,000 5,320,000 5,790,000 6,275,000 6,900,000 6,885,000 6,205,000 6,765,000 7,375,000 8,025,000 5,525,000 6,110,000 6,730,000 7,390,000 8,085,000 8,665,000 9,470,000 10,320,000 11,225,000 12,185,000 13,320,000 14,360,000 15,465,000 16,630,000 18,145,000 19,450,000 12,405,000

$ 14,735,344 14,346,725 14,172,358 13,826,321 13,349,837 13,102,579 12,889,303 12,656,658 12,421,874 12,164,129 11,889,315 11,579,598 11,263,620 10,981,350 10,653,713 10,295,288 9,903,662 9,627,412 9,321,913 8,985,412 8,615,913 8,211,662 7,756,750 7,259,575 6,717,775 6,128,463 5,488,750 4,822,750 4,104,750 3,331,500 2,500,000 1,592,750 620,250

$ 23,285,344 22,176,725 22,812,358 22,766,321 21,669,837 18,012,579 18,224,303 17,976,658 18,211,874 18,439,129 18,789,315 18,464,598 17,468,620 17,746,350 18,028,713 18,320,288 15,428,662 15,737,412 16,051,913 16,375,412 16,700,913 16,876,662 17,226,750 17,579,575 17,942,775 18,313,463 18,808,750 19,182,750 19,569,750 19,961,500 20,645,000 21,042,750 13,025,250

$307,545,000

$305,317,299

$612,862,299

*An interest rate of 2.50% is assumed for tax-exempt and 3.75% for taxable General Obligation variable rate demand bonds.

- 55 -

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

7.

LONG-TERM DEBT (Continued) d. Noncommitment Debt Special Assessment Debt Special assessment bonds outstanding as of the date of this report totaled $2,960,000. The Village is not obligated in any manner for any portion of this debt and is not acting as the agent for the assessed property owners. e.

Conduit Debt The Village has issued Industrial Development Revenue Bonds (IDRBs) to provide financial assistance to private organizations for the construction and acquisition of industrial and commercial facilities deemed to be in the public interest. The bonds are secured solely by the property or mortgages financed and are payable solely from the payments received on the underlying mortgage loans on the property. The Village is not obligated in any manner for the repayment of the bonds. Accordingly, the bonds outstanding are not reported as a liability in these financial statements. The Village has four issues outstanding as of April 30, 2009. The aggregate principal amount payable for the four series which could be determined was $11,451,233.

8.

TAX INCREMENT FINANCING The Village has designated the approximately one square mile area at the intersection of Schaumburg and Roselle Roads ("Olde Schaumburg Centre") as a redevelopment project area in accordance with the Tax Increment Allocation Redevelopment Act of the State of Illinois. The act provides for tax increment financing to fund the cost of approved property redevelopment. Under tax increment financing, tax revenues are derived from the increase in the current equalized assessed valuation of real property within the redevelopment area over and above the certified initial equalized assessed valuation of the property. These tax revenues are to be exclusively utilized for the redevelopment of the project area.

- 56 -

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

9.

INTERFUND BALANCES a.

Due TolFrom Other Funds All funds as of April 30, 2009: Receivable Fund General General General General Nonmajor governmental Enterprise Internal Service Nonmajor governmental Nonmajor governmental Capital Improvements Enterprise *Nonmajor governmental *Hotel and Convention Center *Hotel and Convention Center *Hotel and Convention Center

Payable Fund Enterprise Nonmajor governmental Capital Improvements Internal Service General General General Capital Improvements Nonmajor governmental Nonmajor governmental Internal Service Hotel and Convention Center General Nonmajor governmental Capital Improvements

Amount $ 1,730 227,733 1 2,908 801 26,418 38 1,764 96,797 2,407 242 833 72,122 1,092 56 $434,942

TOTAL Hotel and Convention Center as of January 2, 2009: Receivable Fund Hotel and Convention Center Hotel and Convention Center Hotel and Convention Center

Payable Fund General Capital improvement Nonmajor governmental

Amount $ 65,987 59 1,509 67,555

Total due to/froms as of January 2, 2009 *Net of due to/froms as of April 30, 2009 due to the Hotel and Convention Center being reported on a different fiscal year-end

72,437 ($ 4,882)

Reconciliation of internal balances:

The purpose of the major due to/from other funds is as follows: Each year, the baseball stadium reduces the advance created from the construction costs of the baseball stadium and related off-site improvements, which were higher than the bond proceeds for the project. $154,967 of the General Fund receivable from a nonmajor governmental fund relates to the Schaumburg Transit Program Fund. The Village's fund balance policy requires that the fund balance in the Schaumburg Transit Program Fund always be $0 at each fiscal year-end.

- 57 -

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

9. a.

INTERFUND BALANCES (Continued) Due To/From Other Funds (Continued) As such, after all journal entries are posted for GAAP purposes, the fund balance in the Schaumburg Transit Program Fund is analyzed and adjusted accordingly. The 2005A Capital Improvements Project Fund owes $87,659 to the Motor Fuel Fund due to the reallocation of expenses incurred during the fiscal year.

b.

Advances To/From Other Funds Receivable Fund General Capital Improvements Capital Improvements Enterprise Enterprise

Amount

Payable Fund Schaumburg Baseball Stadium Schaumburg Baseball Stadium Nonmajor governmental Nonmajor governmental 2008 Project Fund

TOTAL

$

553,902 90,000 31,600 437,090 504,297

$

1,616,889

The purpose ofthe advances to/from other funds is as follows: Due to construction costs of the baseball stadium and related off-site improvements being higher than the bond proceeds received for the project, the General Fund advanced the Schaumburg Baseball Stadium Fund money. Annually, a cash flow analysis is performed to determine the amount of the advance reduction. In the current year, no reduction was made and the balance remains the same as of April 30, 2009 at $553,902. The Capital Improvements Fund advanced the Schaumburg Baseball Stadium Fund $90,000 in the fiscal year to paint the stadium. The Capital Improvements Fund advanced the Special Assessment #3 Construction Fund $130,746 in the summer of 2003 for roadway improvements related to McLin Boulevard. Financing to repay the advance is provided by annual special assessments on all property located within the special assessment area. As of the April 30, 2009, the advance balance was reduced down to $31,600 due to special assessment payments. The Special Service Area No.9, 10, and 11 project costs were charged to the Waterworks and Sewerage Fund. Advances were created to show the receivables that are reduced annually as special service area property taxes are received. The Fiduciary Fund type payable for Special Service Area No.9, 10, and 11 exists solely to collect the special service area tax and repay the Waterworks and Sewerage Fund. In 2008, the Village issued General Obligation Bonds for various projects, including $500,000 for THangar construction at the Schaumburg Airport. Including the accrued interest and bond premium, $504,297 was transferred from the Airport Fund to the 2008 Project Fund to cover construction expense related to the hangar project.

- 58 -

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

9. c.

INTERFUND BALANCES (Continued) Interfund Transfers Interfund transfers during the year ended April 30, 2009 consisted of the following: Transfers In General Fund Capital Improvements Fund Nonmajor special revenue funds Nonmajor debt service funds Nonmajor capital projects funds Waterworks and Sewerage Fund Schaumburg Baseball Stadium fund Nonmajor enterprise funds Internal service funds Total all funds

$2,161,352 1,853,370 1,664,825 998,225

634,975 541,048 $7,853,795

Transfers Out

Net Transfers

1,000,000 $7,853,795

$(1,136,673) 1,853,370 503,473 998,225 (1,853,370) (531.048) 624,975 541,048 (1,000,000) $

Transfers Out $6,312,747 541,048 1,000,000 $7,853,795

Net Transfers $365,025 634,975 (1,000,000) $

$3,298,025 1,161,352 1,853,370 531,048 10,000

Reconciliation for GASB 34 adjustment: Transfers In $6,677,772 1,176,023

Governmental funds Enterprise funds Internal service funds Total transfers

$7,853,795

The purposes of interfund transfers are as follows: The General Fund transfers in include a transfer of $1,161,352 of excess equity due to the closure of the Medical Facilities Fund and a $1,000,000 transfer from the Vehicle Replacement fund. The General Fund transfers out include $1,664,825 to the Schaumburg Transit Program Fund to cover the cost of the transit programs above the financing provided by fares and operating grants; $634,975 was transferred to the Schaumburg Baseball Stadium Fund for the 1998 Series debt service payments that occurred in fiscal year-end 2009. The amount represents one-half of the overall debt service payments as the Schaumburg Park District shares in the responsibility of the annual debt service payments; $657,000 was transferred to the General Obligation Bonds Series 2005B Fund for the annual debt service payments and to set up a small reserve; $341,225 was transferred to the General Obligation Bonds Series 2004B Fund for the debt service payments that occurred in fiscal year-end 2009. The Capital Improvements Fund transfers in of $1,853,370 is from the Facilities Fund to transfer excess residual equity. The transfers in for nonmajor governmental funds include the Schaumburg Transit Program Fund of $1,664,825 from the General Fund, $341,225 from the General Fund to the General Obligation Bonds Series 2004B Fund, and $657,000 from the General Fund to the General Obligation Bonds Series 2005B Fund.

- 59 -

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

9.

INTERFUND BALANCES (Continued) d.

Interfund Transfers (Continued) The transfers out for nonmajor governmental funds include the $1,161,352 to the General Fund and the transfer of $1 ,853,370 to the Capital Improvements Fund. Transfers out for the Water & Sewerage Fund are $531,048 for operating expenses for the Performing Arts Center. The Schaumburg Baseball Stadium Fund received $634,975 from the General Fund for the 1998 Series debt service payments that occurred in fiscal year-end 2009. The Schaumburg Baseball Stadium Fund transferred out $10,000 to the Commuter Parking Lot Fund for lot maintenance. The amount represents the payment to the Village from the Schaumburg Flyer's professional baseball team for a METRA parking lot use fee per an agreement between the Village and the team. The Performing Arts Fund received $531,048 from the Water & Sewerage Fund. These amounts are reflected as a transfer in for nonmajor enterprise funds.

10.

CONTINGENT LIABILITIES a.

Contractual Commitments The Village has contractual commitments for various construction and other projects of $2,948,248. The Village has committed to purchase water from the Northwest Suburban Municipal Joint Action Water Agency (JAWA). This agreement expires in 2022, with minimum amounts of gallons required for purchase every five years. The Village expects to pay minimum amounts totaling $6,0 I0,590 through fiscal year 2009. This amount has been computed using the minimum amount to be purchased per the agreement between the Village and JAWA multiplied by the average cost per gallon of $2.38 charged by JAWA in the fiscal year-end 2009.

b.

Grants Amounts received or receivable from grantors are subject to audit and adjustment by the grantors. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. This amount, if any, of the expenditures which may be disallowed by the grantor cannot be determined at this time. The Village believes that there is no liability.

c.

Litigation The Village has several pending legal proceedings that, in the opinion of management, are ordinary routine matters incidental to the normal business conducted by the Village. In the opinion of management, the outcome is neither probable nor estimable, and the ultimate dispositions of such proceedings are not expected to have a material adverse effect on the Village's net assets or activities.

- 60-

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

11.

JOINT VENTURE Northwest Suburban Municipal Joint Action Water Agency The Village is a member of the Northwest Suburban Municipal Joint Action Water Agency (the Agency), which consists of seven municipalities. The Agency is a municipal corporation and public body politic and corporate established pursuant to the Constitution of the State of Illinois and the Intergovernmental Cooperation Act of the State of Illinois, as amended (the Act). The Agency is empowered under the Act to plan, construct, improve, extend, acquire, finance, operate, and maintain a joint water supply system to serve its members and other potential water purchasers. The members form a contiguous geographic service area, which is located 15 to 30 miles northwest of downtown Chicago, Illinois. Under the agreement, additional members may join the Agency upon the approval of each member. The Agency is governed by a Board of Directors, which consists of one elected official from each member municipality. Each director has an equal vote, and the officers of the Agency are appointed by the Board of Directors. The Board of Directors determines the general policy of the Agency, makes all appropriations, approves contracts for sale or purchase of water, adopts resolutions providing for the issuance of bonds or notes by the Agency and adopts bylaws. Complete financial statements for the Agency can be obtained from the Agency's administration offices at 903 Brantwood Avenue, Elk Grove, Illinois.

12.

BASEBALL STADIUM On March 21, 1998, the Village entered into an intergovernmental agreement with the Schaumburg Park District (the District) for the ownership, development, and operation of the Schaumburg Baseball Stadium. All operating revenues and costs associated with the stadium are shared equally by the Village and the District, unless otherwise agreed to. The Village's shared operating costs (net of shared revenues) are reimbursed by the District and any intergovernmental receivables related to these costs are considered short-term in nature. The District is also obligated for its share of the 1998A and 1998B General Obligation Variable Rate Demand Bonds. Only the principal portion is considered long-term in nature, with the interest portion included in operating costs. The long-term receivable to be paid by the District each year is as follows: $

2010 2011 2012 2013 2014 TOTAL RECEIVABLE

$

- 61 -

550,000 600,000 650,000 650,000 700,000 3,150,000

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

13.

DEFINED BENEFIT PENSION PLANS The Village contributes to three defined benefit pension plans, the Illinois Municipal Retirement Fund (IMRF), an agent, multiple-employer public employee retirement system, the Police Pension Plan, which is a single-employer pension plan, and the Firefighters' Pension Plan, which is also a single-employer pension plan. The benefits, benefit levels, employee contributions, and employer contributions for all three plans are governed by Illinois Compiled Statutes and can only be amended by the Illinois General Assembly. None of the pension plans issue separate reports on the pension plans. However, IMRF does issue a publicly available report that includes financial statements and supplementary information for the plan as a whole, but not for individual employers. That report can be obtained online at www.imrf.org. A. Illinois Municipal Retirement Fund

1. Plan Description All employees (other than those covered by the Police or Firefighters' plans) hired in positions that meet or exceed the prescribed annual hourly standard must be enrolled in IMRF as participating members. Pension benefits vest after eight years of service. Participating members who retire at or after age 60 with eight years of credited service are entitled to an annual retirement benefit, payable monthly for life, in an amount equal to 1 2/3% of their final rate of earnings, for each year of credited service up to 15 years, and 2% for each year thereafter. 2. Funding Policy Participating members are required to contribute 4.50% of their annual salary to IMRF. The Village is required to contribute the remaining amounts necessary to fund the IMRF as specified by statute. The employer contribution rate for calendar year 2009 is 10.56% of covered payroll. The employer contribution rate for the calendar year 2008,2007, and 2006 was 10.38%, 10.98%, and 11.57%, of covered payroll, respectively. The Village also contributes to IMRF for disability benefits, post retirement increase, and death benefits to plan members and beneficiaries, all of which are pooled at the IMRF level. Contribution rates for disability and death benefits are set by the IMRF Board of Trustees, while the supplemental retirement benefits rate is set by statute. 3. Annual Pension Cost For 2008, the Village's annual pension cost for IMRF of $2,288,162 for the Regular plan was equal to the employer required and actual contributions Three-Year Trend Information for the Regular Plan Valuation Date

Annual Pension Cost (APe)

Percentage of APC Contributed

Net Pension Obligation

12/31/2008

$2,288,162

100%

$0

12/31/2007

2,360,558

100%

0

12/31/2006

2,406,398

100%

0

- 62 -

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

13.

DEFINED BENEFIT PENSION PLANS (Continued) A. Illinois Municipal Retirement Fund (Continued)

I. Annual Pension Cost (Continued) The required contribution for 2008 was determined as part of the December 31, 2006 actuarial valuation using the entry age normal actuarial cost method. The actuarial assumptions at December 31, 2006 included (a) 7.5 percent investment rate of return (net of administrative and direct investment expenses), (b) projected salary increases of 4% a year, attributable to inflation, (c) additional projected salary increases ranging from 0.4% to 11.6% per year depending on age and service, attributable to seniority/merit, and (d) postretirement benefit increases of3% annually. The actuarial value of the Village's Regular Plan assets was determined using techniques that spread the effects of short-term volatility in the market value of investments over a five-year period with a 20% corridor between the actuarial and market value of assets. The Village's Regular Plan's unfunded actuarial accrued liability is being amortized as a level percentage of projected payroll on a closed basis. The remaining amortization period at the December 31, 2006 valuation was twentyfour years. 2. Funded Status and Funding Progress As of December 31, 2008, the most recent actuarial valuation date, the Regular Plan was 71.82% funded. The actuarial accrued liability for benefits was $62,083,025 and the actuarial value of assets was $44,586,013, resulting in an underfunded actuarial accrued liability (VAAL) of $17,497,012. The covered payroll (annual payroll of active employees covered by the plan) was $22,043,956 and the ratio of the VAAL to the covered payroll was 79.37%. The schedule of funding progress, presented as required supplementary information (RSI) following the notes to the financial statements, presents multiyear trend information about whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued liability for benefits.

B. Police Pension Plan 1. Plan Description Police sworn personnel are covered by the Police Pension Plan. Although this is a single-employer pension plan, the defined benefits and employee and employer contribution levels are governed by Illinois Compiled Statutes (40 ILCS 5/3-1) and may be amended only by the Illinois legislature. The Village accounts for the plan as a pension trust fund. At April 30, 2008, the Police Pension Plan membership consisted of: Retirees and beneficiaries currently receiving benefits and terminated employees entitled to benefits but not yet receiving them Current employees Vested Nonvested TOTAL

- 63 -

70 95 37 202

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

13.

DEFINED BENEFIT PENSION PLANS (Continued) B. Police Pension Plan (Continued) I.

Plan Description (Continued) The Police Pension Plan provides retirement benefits as well as death and disability benefits. Covered employees attaining the age of 50 or more with 20 or more years of creditable service are entitled to receive an annual retirement benefit equal to one-half 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 2.50% of such salary for each additional year of service over 20 years up to 30 years, to a maximum of 75.00% 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 I, 1977 shall be increased annually, following the first anniversary date of retirement upon reaching the age of at least 55 years, by 3.00% of the original pension and 3.00% compounded annually thereafter. Benefits and refunds are recorded when due in accordance with the terms of the plan. The pension trust funds utilize the accrual basis of accounting. The costs of administering the plan are financed through interest earnings.

2.

Funding Policy Employees are required by ILCS 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 Village is required to contribute the remaining amounts necessary to finance the plan as actuarially determined by an enrolled actuary. Effective July 1, 1993, the Village has until the year 2033 to fully fund the past service cost for the Police Pension Plan. For the year ended April 30, 2008, the Village's contribution was 25.80% of covered payroll.

3. Annual Pension Cost Employer contributions have been determined as follows: Actuarial valuation date Actuarial cost method Asset valuation method Amortization method Amortization period Significant actuarial assumptions a) Rate of return on present and future assets b) Projected salary increase attributable to inflation c) Additional projected salary increases for seniority/merit

April 30, 2008 Entry-age Normal Market Level Percentage of Payroll 25 Years, Closed 7.50% Compounded Annually 4.50%Compounded Annually Not Available

Employer annual required contributions (ARC), actual contributions and the net pension obligation (NPO) follow in Note 13-D. The NPO is the cumulative difference between the ARC and the contributions actually made. - 64-

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

13.

DEFINED BENEFIT PENSION PLANS (Continued) C. Firefighters' Pension Plan

1.

Plan Description Fire sworn personnel are covered by the Firefighters' Pension Plan. Although this is a singleemployer pension plan, the defined benefits and employee and employer contribution levels are governed by Illinois Compiled Statutes (40 ILCS 5/4-1) and may be amended only by the Illinois legislature. The Village accounts for the plan as a pension trust fund. At April 30, 2008, the Firefighters' Pension Plan membership consisted of: Retirees and beneficiaries currently receiving benefits and terminated employees entitled to benefits but not yet receiving them Current employees Vested Nonvested

70 96 31

197

TOTAL

The Firefighters' Pension Plan provides retirement benefits as well as death and disability benefits. Covered employees attaining the age of 50 or more with 20 or more years of creditable service are entitled to receive an annual retirement benefit of one-half of the monthly salary attached to the rank held in the fire service at the date of retirement. The monthly pension shall be increased by II 12 or 2.50% of such monthly salary for each additional month over 20 years of service through 30 years of service, to a maximum of 75.00% of such monthly salary. Employees with at least ten years but less than 20 years of credited service may retire at or after age 60, and ten years but less than 20 years of credited service may retire at or after age 60 and receive a reduced retirement benefit. The monthly pension of a covered employee who retired with 20 or more years of service after January 1, 1977 shall be increased annually, following the first anniversary date of retirement upon reaching the age of at least 55 by 3.00% of the original pension and 3.00% compounded annually thereafter. Benefits and refunds are recorded when due in accordance with the terms of the plan.

2.

Funding Policy Covered employees are required to contribute 9.455% of their base salary to the Firefighters' 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 Village is required to finance the plan as actuarially determined by an enrolled actuary. Effective July 1, 1993, the Village has until the year 2033 to fully fund the past services costs for the Firefighters' Pension Plan. For the year ended April 30, 2008, the Village's contribution was 28.82% of covered payroll.

- 65 -

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

13.

DEFINED BENEFIT PENSION PLANS (Continued) C. Firefighters' Pension Plan 3. Annual Pension Cost Employer contributions have been determined as follows: Actuarial valuation date Actuarial cost method Asset valuation method Amortization method Amortization period Significant actuarial assumptions a) Rate of return on present and future assets b) Projected salary increase attributable to inflation c) Additional projected salary increases for seniority/merit

April 30, 2008 Entry-age Normal Market Level Percentage of Payroll 25 Years, Closed 7.50% Compounded Annually 4.50% Compounded Annually Not Available

D. Statement of Plan Net Assets For Fiscal Year

Illinois Municipal Retirement

Annual pension cost (APC)

2006 2007 2008

$ 2,406,398 2,360,558 2,288,162

$ 2,186,150 2,389,540 2,374,669

$ 2,212,350 2,298,647 2,451,070

Actual contribution

2006 2007 2008

$ 2,406,398 2,360,558 2,288,162

$ 2,459,398 2,606,962 2,590,962

$ 2,348,850 2,502,065 2,887,568

Percentage of APC contributed

2006 2007 2008

100.00% 100.00 100.00

112.50% 109.11 109.11

106.20% 108.80 117.80

NPO (asset)

2006 2007 2008

$ (3,284,496) (3,501,918) (3,718,211)

$ (2,360,406) (2,563,824) (3,000,322)

$

Police Pension

Firefighters' Pension

The NPO at April 30, 2008 (the latest available) has been calculated as follows:

$ 2,444,323 (262,644) 192,990

Firefighters' Pension $ 2,502,065 (192,287) 141,292

2,374,669 2,590,962

2,451,070 2,887,568

(216,293) (3,501,918)

(436,498) (2,563,824)

$(3,718,211)

$ (3,000,322)

Police Pension Annual required contribution Interest on net pension obligation Adjustment to annual required contribution Annual pension cost Contributions made Decrease in net pension obligation Net pension asset beginning of year NET PENSION ASSET END OF YEAR - 66-

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

13.

DEFINED BENEFIT PENSION PLANS (Continued) d.

Statement of Plan Net Assets (Continued) Firefighters' Pension

Total

1,244,945

$ 4,028,662

$ 5,273,607

10,899,816 28,647,695

19,877,879 60,670,335

17,495,857 25,608,546 5,212,456 666,723 12,076,149 65,088,393

28,395,673 54,256,241 5,212,456 666,723 31,954,028 125,758,728

23,984 345,302 369,286

10,899 365,868 376,767

34,883 711,170 746,053

61,039,621

65,465,160

126,504,781

10,860 10,860

34,950 34,950

45,810 45,810

$ 61.028,761

$ 65.430.210

$126.458,971

Police Pension ASSETS Cash and cash equivalents

$

Investments, at fair value U.S. government obligations U.S. agency obligations Mutual funds Municipal bonds Equity securities Total investments, at fair value Receivables Due from participants Accrued interest Total receivables Total assets LIABILITIES Accounts payable Total liabilities NET ASSETS HELD IN TRUST FOR PENSION BENEFITS

- 67 -

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

13.

DEFINED BENEFIT PENSION PLANS (Continued) e.

Combining Statement of Changes in Plan Net Assets Police Pension ADDITIONS Contributions Employer Employee Miscellaneous revenue Creditable service transfer Total contributions

Firefirghters' Pension

Total

$ 2,627,456 1,000,316 108 95,360 3,723,240

$ 3,031,946 948,459 228 3,980,633

$ 5,659,402 1,948,775 336 95,360 7,703,873

(9,999,398) 2,146,216 (7,853,182)

(7,061,243) 2,521,046 (4,540,197)

(17,060,641) 4,667,262 (12,393,379)

18,530 191,399 (8,063,111)

16,915 240,458 (4,797,570)

35,445 431,857 (12,860,681)

(4,339,871)

(816,937)

(5,156,808)

3,186,781 88,477 351,830 338,877

2,487,039

5,673,820 88,477 864,394 575,738 357,278 114,791

Investment income Net appreciation in fair value of investments Interest and dividends Total investment income Less investment expense: Miscellaneous bank fees Investment managers/advisors fees Net investment income Total additions DEDUCTIONS Benefits Retirement Non-duty disability Duty disability Surviving spouse Occupational disease Creditable service transfer Administrative expenses Travel, meetings and training Fiduciary liability insurance Professional services Dues and subscriptions Legal fees IDOl compliance fee Supplies Minor capital outlay Total deductions

512,564 236,861 357,278

114,791

19,795 8,000 36 765 3,643,087

1,247 19,720 19,038 400 40,392 16,000 72 765 7,772,132

(8,468,916)

(4,460,024)

( 12,928,940)

69,497,677

69,890,234

139,387,911

$61 ,028,761

$65.430,210

$126.458,971

1,079 9,820 8,357 400 20,597 8,000 36 4,129,045

NET DECREASE

168 9,900 10,681

NET ASSETS HELD IN TRUST FOR PENSION BENEFITS May 1 April 30

- 68-

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

14.

OTHER POSTEMPLOYMENT BENEFITS a.

Plan Description In addition to providing the pension benefits described, the Village provides postemployment health care and life insurance benefits (OPEB) for retired employees through a single-employer defined benefit plan. The benefits, benefit levels, employee contributions and employer contributions are governed by the Village and can be amended by the Village through its personnel manual and union contracts. The plan is not accounted for as a trust fund, as an irrevocable trust has not been established to account for the plan. The plan does not issue a separate report. The activity of the plan is reported in the Village's Risk Management Fund, an internal service fund.

b.

Benefits Provided The Village provides postemployment health care and life insurance benefits to its retirees. To be eligible for benefits, an employee must qualify for retirement under one of the Village's retirement plans. Elected officials are eligible for benefits if they qualify for retirement through the Illinois Municipal Retirement Fund. All health care benefits are provided through the Village's self-insured health plan. The benefit levels are the same as those afforded to active employees. Benefits include general inpatient and outpatient medical services; mental, nervous, and substance abuse care; vision care; dental care; and prescriptions. Upon a retiree reaching age 65 years of age, Medicare becomes the primary insurer, and the Village's plan becomes secondary.

c. Membership At April 30, 2009, membership consisted of: Retirees and beneficiaries receiving benefits Terminated plan members entitled to but not yet receiving benefits Active vested plan members Active nonvested plan members TOTAL

- 69-

110

507

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

14.

OTHER POSTEMPLOYMENT BENEFITS (Continued) e.

Annual OPEB Costs and Net OPEB Obligation The Village had an actuarial valuation performed for the plan as of April 30, 2009 to determine the funded status of the plan as of that date as well as the employer's annual required contribution (ARC) for the fiscal year ended April 30, 2009. The Village's annual OPEB cost (expense) of $520,045 was greater than the ARC for the fiscal year. The Village's annual OPEB cost, the percentage of annual OPEB cost contributed to the plan, and the net OPEB obligation for 2009 were as follows: Fiscal Year Ended April 30, 2007 April 30, 2008 April 30, 2009

Annual OPEB Cost $ 584,285 $ 614,777 $ 520,045

Employer Contributions $ 507,600 $ 406,222 $ 401,864

Percentage of Annual OPEB Cost Contributed 86.9% 66.1% 77.3%

Net OPES Obligation $ 76,685 $ 285,240 $ 403,421

Cumulative net OPEB obligation

$ 403.421

The net OPEB obligation (NOPEBO) as of April 30, 2009 was calculated as follows: Annual required contribution Interest on net OPEB obligation Adjustment to annual required contribution Annual OPEB cost Contributions made Increase in net OPEB obligation Net OPEB obligation beginning of year

$ 515,291 14,262 (9,508) 520,045 (401,864) 118,181 285,240 ~

Net OPEB obligation end of year

403.421

Funded Status and Funding Progress. The funded status of the plan as of April 30, 2009 was as follows: Actuarial accrued liability (AAL) Actuarial value of plan assets Unfunded actuarial accrued liability (UAAL) Funded ratio (actuarial value of plan assets/AAL) Covered payroll (active plan members) UAAL as a percentage of covered payroll

$ 10,164,475 $ 10,164,475 0.0% N/A N/A

Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and assumptions about the probability of occurrence of events far into the future. Examples include assumptions about future employment, mortality, and the health care cost trend. Amounts determined regarding the funded status of the plan and the annual required contributions of the employer are subject to continual revision, as actual results are compared with past expectations and new estimates are made about the future. The schedule of funding progress, presented as required supplementary information following the notes to the financial statements, presents multiyear trend information that shows whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued liabilities for benefits.

- 70-

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

14. OTHER POSTEMPLOYMENT BENEFITS (Continued) d.

Annual OPEB costs and Net OPEB Obligation (Continued) Projections of benefits for financial reporting purposes are based on the substantive plan (the plan as understood by the employer and plan members) and include the types of benefits provided at the time of each valuation and the historical pattern of sharing of benefit costs between the employer and plan members to that point. The actuarial methods and assumptions used include techniques that are designed to reduce short-term volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long-term perspective of the calculations. In the April 30, 2009 actuarial valuation, the entry age actuarial cost method was used. The actuarial assumptions included a 5.0% investment rate of return (net of administrative expenses) and an annual health care cost trend rate of 8.0%. Both rates include a 3.0% inflation assumption. The actuarial value of assets was not determined, as the Village has not advance funded its obligation. The plan's unfunded actuarial accrued liability is being amortized as a level percentage of projected payroll on a closed basis. The remaining amortization period at April 30, 2009 was twenty-nine years.

- 71 -

REQUIRED SUPPLEMENTARY INFORMATION

VILLAGE OF SCHAUMBURG, ILLINOIS REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL GENERAL FUND For the Year Ended April 30, 2009

REVENUES Taxes Licenses and pennits Intergovernmental Charges for services Fines and forfeits Grants Investment income Miscellaneous Total revenues EXPENDITURES Current General government Public safety Highways and streets Health and welfare Culture and recreation Total expenditures EXCESS OF REVENUES OVER EXPENDITURES OTHER FINANCING SOURCES (USES) Transfers in Medical Faciltiy Fund Perfonning Arts Center Fund Transfers (out) Schaumburg Transit Program Fund General Obligation Bonds, 2005B Fund General Obligation Bonds, 2004B Fund Schaumburg Baseball Stadium Fund Total other financing sources (uses) NET CHANGE IN FUND BALANCE

Original Budget

Final Budget

Actual

Variance Over (Under)

$ 30,407,041 3,746,260 38,371,418 4,646,590 1,299,840 830,737 675,407 857,385

$ 28,951,666 3,310,460 36,313,074 4,510,279 1,299,840 930,737 675,407 1,052,385

$ 27,030,218 3,370,977 33,796,243 4,334,792 2,373,379 445,560 621,626 1,140,096

$ (1,921,448) 60,517 (2,516,83 I) (175,487) 1,073,539 (485,177) (53,781) 87,711

80,834,678

77,043,848

73,112,891

(3,930,957)

14,256,138 45,715,117 13,948,348 3,801,078 2,427,934

13,870,954 44,916,900 14,593,201 3,955,359 2,340,080

13,571,687 44,013,966 14,992,906 3,373,823 2,334,855

(299,267) (902,934) 399,705 (581,536) (5,225)

80,148,615

79,676,494

78,287,237

(1,389,257)

686,063

(2,632,646)

(5,174,346)

(2,541,700)

26,000

1,150,000 1,000,000

1,161,352 1,000,000

(1,962,051) (657,000) (341,225) (718,770)

(1,814,668) (657,000) (341,225) (718,770)

(1,664,825) (657,000) (341,225) (634,975)

(149,843)

(3,653,046)

(1,381,663)

(1,136,673)

(244,990)

$ (2,966,983) $ (4,014,309)

FUND BALANCE, MAY 1

$ 29,211,112

-72-

(83,795)

(6,311,019) $ (2,786,690) 35,522,131

FUND BALANCE, APRIL 30

11,352

VILLAGE OF SCHAUMBURG, ILLINOIS REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF FUNDING PROGRESS ILLINOIS MUNICIPAL RETIREMENT FUND

April 30, 2009

Actuarial Valuation Date December 31

(1) Actuarial Value of Assets

(2) Actuarial Accrued Liability (AAL) - Entry Age

2003

$45,036,234

$ 48,282,096

2004

40,259,249

52,388,664

76.85%

2005

37,454,924

46,694,445

2006

42,591,116

2007 2008

(3) Funded Ratio (1)/(2)

(4) Unfunded (Overfunded) AAL (UAAL) (2)-(1)

93.28% $ 3,245,862

(5) Covered Payroll

UAAL (OAAL) Asa Percentage of Covered Payroll (4) / (5)

$20,038,825

16.20%

12,129,415

21,107,672

57.46%

80.21%

9,239,521

19,886,373

46.46%

50,234,359

84.78%

7,643,243

20,798,601

36.75%

48,847,567

56,627,962

86.26%

7,780,395

21,498,707

36.19%

44,586,013

62,083,025

71.82%

17,497,012

22,043,956

79.37%

- 73 -

VILLAGE OF SCHAUMBURG, ILLINOIS REQUIRED SUPPLEMENTARY INFORMAnON SCHEDULE OF FUNDING PROGRESS POLICE PENSION FUND April 30, 2009

UAAL (OAAL) Asa Percentage of Covered Payroll (4) / (5)

Actuarial Valuation Date April 30,

(I) Actuarial Value of Assets

(2) Actuarial Accrued Liability (AAL) - Entry Age

2003

$49,831,099

$ 70,796,218

70.39%

$ 20,965,119

$8,564,269

244.80%

2004

53,240,730

75,707,611

70.32%

22,466,881

8,799,433

255.32%

2005

55,992,798

81,809,689

68.44%

25,816,891

9,027,101

285.99%

2006

62,274,287

87,041,220

71.55%

24,766,933

9,430,700

262.62%

2007

68,158,385

93,152,095

73.17%

24,993,710

9,513,936

262.71%

2008

69,497,678

100,158,293

69.39%

30,660,615

10,042,986

305.29%

(3) Funded Ratio (1)/(2)

- 74-

(4) Unfunded (Overfunded) AAL (VAAL) (2)-(1)

(5) Covered Payroll

VILLAGE OF SCHAUMBURG, ILLINOIS REQUIRED SUPPLEMENTARY INFORMAnON SCHEDULE OF FUNDING PROGRESS FIREFIGHTERS' PENSION FUND

April 30, 2009

(3) Funded Ratio (1)/(2)

(4) Unfunded (Overfunded) AAL (UAAL) (2)-(1)

(5) Covered Payroll

UAAL (OAAL) Asa Percentage of Covered Payroll (4) / (5)

Actuarial Valuation Date April 30,

(1) Actuarial Value of Assets

(2) Actuarial Accrued Liability (AAL) - Entry Age

2003

$ 49,698,633

$ 70,058,913

70.94%

$ 20,360,280

$ 9,110,420

223.48%

2004

53,925,245

75,272,968

71.64%

21,347,723

9,572,976

223.00%

2005

56,992,442

80,988,744

70.37%

23,996,302

9,448,085

253.98%

2006

60,751,673

86,659,706

70.10%

25,908,033

9,691,340

267.33%

2007

67,165,117

97,201,547

69.10%

30,036,430

9,966,063

301.39%

2008

69,890,235

105,381,332

66.32%

35,491,097

10,018,946

354.24%

- 75 -

VILLAGE OF SCHAUMBURG, ILLINOIS REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF FUNDING PROGRESS OTHER POSTEMPLOYMENT BENEFIT PLAN

April 30, 2009

(2) Actuarial Accrued Liability (AAL) - Entry Age

(1)/(2)

(4) Unfunded (Overfunded) AAL (UAAL) (2)-(1)

(5) Active Members Covered Payroll

7,496,106

0.00%

$ 7,496,106

N/A

N/A

2008

6,659,607

0.00%

6,659,607

N/A

N/A

2009

10,164,475

0.00%

10,164,475

N/A

N/A

Actuarial Valuation Date April 30, 2007

(1) Actuarial Value of Assets $

-

$

(3) Funded Ratio

UAAL Asa Percentage of Covered Payroll (4) 1 (5)

Note: The Village implemented GASB Statement 45 for the fiscal year ended April 30, 2007. Information for prior years is not available.

- 76-

L--

VILLAGE OF SCHAUMBURG, ILLINOIS REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF EMPLOYER CONTRIBUTIONS ILLINOIS MUNICIPAL RETIREMENT FUND April 30, 2009

Calendar Year 2003

Annual Required Contribution (ARC)

Employer Contributions

$

1,308,535

$

1,308,535

100.00%

2004

1,865,918

1,865,918

100.00%

2005

1,895,171

1,895,171

100.00%

2006

2,406,398

2,406,398

100.00%

2007

2,360,558

2,360,558

100.00%

2008

2,288,162

2,288,162

100.00%

- 77.

Percentage Contributed

_

VILLAGE OF SCHAUMBURG, ILLINOIS REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF EMPLOYER CONTRIBUTIONS POLICE PENSION FUND April 30, 2009

Fiscal Year

Annual Required Contribution (ARC)

Employer Contributions

Percentage Contributed

2003

1,852,455

1,522,235

121.69%

2004

1,913,333

1,888,258

101.33%

2005

2,258,563

2,130,720

106.00%

2006

2,459,398

2,254,039

109.11%

2007

2,606,962

2,459,398

106.00%

2008

2,590,962

2,444,323

106.00%

Note: The annual required contribution for 2009 is not yet available.

-78 -

VILLAGE OF SCHAUMBURG, ILLINOIS REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF EMPLOYER CONTRIBUTIONS FIREFIGHTERS' PENSION FUND April 30, 2009

Employer Contributions

Fiscal Year 2003

Annual Required Contribution (ARC)

$

$

1,905,825

Percentage Contributed

1,742,616

109.37%

2004

1,905,500

2,015,120

94.56%

2005

2,300,381

2,170,171

106.00%

2006

2,348,850

2,262,488

103.82%

2007

2,502,065

2,348,850

106.52%

2008

2,887,568

2,502,065

115.41 %

Note: The annual required contribution for 2009 is not yet available.

- 79-

VILLAGE OF SCHAUMBURG, ILLINOIS REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF EMPLOYER CONTRIBUTIONS OTHER POSTEMPLOYMENT BENEFIT PLAN April 30, 2009

Fiscal Year 2007

Annual Required Contribution (ARC)

Employer Contributions

$

$

507,600

Percentage Contributed

584,285

86.88%

2008

406,222

613,499

66.21%

2009

401,864

515,291

77.99%

Note: The Village implemented GASB Statement 45 for the fiscal year ended April 30, 2007. Information for prior years is not available.

- 80 -

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO REQUIRED SUPPLEMENTARY INFORMAnON April 30, 2009

A. Budgets

The governmental, proprietary and trust funds (excluding the pension funds) have legally adopted annual budgets prepared in accordance with generally accepted accounting principles (GAAP). Budgetary comparisons are reflected in the financial statements for all governmental and enterprise funds. The Village follows these procedures in establishing the budgetary data reflected in the financial statements. I. The Village Manager, who also serves as the Budget Officer, submits a proposed budget ordinance to the Village Board for review and approval. The proposed ordinance is made available for public inspection at least 10 days prior to final Board action. 2. Public hearings are conducted to obtain taxpayer comments on the proposed fiscal year budget ordinance. 3. The budget ordinance is legally enacted prior to May I. Budgets lapse at year-end. 4. The Budget Officer may approve the transfer of budgeted funds from one account to another provided they are within the same object class, same department, and same fund. 5. The Board of Trustees may: a. By two-thirds vote, transfer within any fund amounts budgeted for an object or purpose to another object or purpose. b. Adopt a supplemental budget ordinance in an amount not to exceed any additional revenue available, including unappropriated fund balances or amounts estimated to be received after adoption of the annual budget ordinance. In the fiscal year ended April 30, 2009 there were two supplemental budget ordinances adopted by the board. The first amendment was adopted on April 22, 2008 and the second was adopted on January 13,2009. 6. Expenditures may not legally exceed budgets at the fund level.

B. Excess of Actual Expenditures/Expenses over Budget in Individual Funds Below are the funds that had an excess of actual expenditures/expenses (exclusive of depreciation, amortization and transfers) over budget for the fiscal year:

• • •

Justice Assistance Grant Fund- $5,250 2004A Debt Service Fund - $1,000 Risk Management Fund - $70 I,943

- 81 -

VILLAGE OF SCHAUMBURG, ILLINOIS NOTES TO REQUIRED SUPPLEMENTARY INFORMATION (Continued)

C. Defined Benefit Pension Plan - Digest of Changes Assumptions for the Illinois Municipal Retirement Fund: The actuarial assumptions used to determine the actuarial accrued liability for 2008 are based on the 2005-2007 Experience Study. The accrued liability for 2007 was based on the 20022004 Experience Study. D. Other Postemployment Benefits The employer contributions reported on the schedule of employer contributions represents the current amount paid by the Village for the current year cost of the benefits, which were entirely paid out on behalf of retirees. Accordingly, as disclosed on the schedule of funding progress, no assets have been placed in trust to advance fund the employer's obligation.

- 82-

COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS April 30, 2009

Debt Service

Special Revenue ASSETS Cash and cash equivalents Investments Receivables Locally imposed taxes Accrued interest Other Due from other funds Due from other governments Prepaid expenses Total assets LIABILITIES Accounts payable Accrued salaries Unearned revenue - Rehab loans Unearned revenue - Meadow Knolls Due to other funds Advances from other funds

$

$

766,397 1,524,882

$

165,796

Total

$

395,785 27,292 894,373 90,222 259,555 10,000

9,973 482,038

10,189,843

$

3,179,075

$

165,796

$

224,548 3,832 868,601 798 168,031

$

6,543

$

78,137

1,265,810

FUND BALANCES Reserved for public safety Reserved for debt service Reserved for highways and streets Reserved for traffic impact Unreserved Designated for streetlights Designated for traffic signals Designated for sidewalks/bikepaths Designated for parkway trees Designated for rights of way Undesignated - capital projects

87,659 31,600

78,882

197,396

1,542,088

3,910 3,100,193 991,977 5,154,182

991,977 5,154,182 1,572,486 194,669 211,224 565,171 230,414 (31,600)

$

10,189,843

3,100,193

- 83 -

$

$

72,339

3,100,193

8,924,033

$ 13,534,714

309,228 3,832 868,601 798 328,029 31,600

3,910

Total fund balances (deficit)

3,737,057 7,628,419 395,785 27,292 894,373 100,195 741,593 10,000

$

Total liabilities

TOTAL LIABILITIES AND FUND BALANCES

2,804,864 6,103,537

Capital Projects

3,179,075

(31,600)

$

165,796

1,572,486 194,669 211,224 565,171 230,414 (31,600) 11,992,626

$ 13,534,714

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS For the Year Ended April 30, 2009 Special Revenue REVENUES Taxes Intergovernmental Charges for services Contributions Investment income Miscellaneous Total revenues EXPENDITURES Current General government Public safety Debt service Principal Interest Miscellaneous Capital outlay

$ 6,856,954

$

Capital Projects

Debt Service

$

2,619,347 289,426 259,345 1,681

38,711

7,900 36,059

3,169,799

6,895,665

43,959

Total

$ 6,856,954 2,619,347 289,426 7,900 334,115 1,681

10,109,423

2,223,820 21,369

2,223,820 21,369 5,715,267 2,893,926 23,372 2,286,741

(4,273) 1,775,278

5,715,267 2,893,926 19,099 4,062,019

Total expenditures

4,531,930

8,632,565

1,771,005

14,935,500

(DEFICIENCY) OF REVENUES OVER EXPENDITURES

(1,362,131 )

(1,736,900)

(1,727,046)

(4,826,077)

OTHER FINANCING SOURCES (USES) Transfers in Transfers (out)

1,664,825 (1,161,352)

(1,853,370)

2,663,050 (3,014,722)

Total other financing sources (uses) NET CHANGE IN FUND BALANCES FUND BALANCES, MAY I FUND BALANCES, APRIL 30

998,225

503,473

998,225

(1,853,370)

(351,672)

(858,658)

(738,675)

(3,580,416)

(5,177,749)

3,548,816

17,170,375

9,782,691

3,838,868

$ 8,924,033

$ 3,100,193

- 84 -

$

(31,600) $ 11,992,626

NONMAJOR SPECIAL REVENUE FUNDS

Motor Fuel Tax Fund - to account for revenues received from the State of Illinois for the maintenance, improvement and construction of streets and roads. Schaumburg Transit Program Fund - to account for the cost of providing local public transportation. Financing is provided by fares and operating grants. Community Development Block Grant Fund - to account for the use of grant momes earmarked for specific projects. Development Contribution Fund - to account for monies received from fees imposed by the Village for development of Village improvements such as traffic signals, streetlights, utilities, and sidewalks. Justice Assistance Grant Fund - to account for the use of grant monies used to provide a safe and educational environment for youths during the evening hours of the summer. Medical Facility Fund - to account for monies held and interest earned on such amounts for the purpose of supporting the home health aid program.

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING BALANCE SHEET NONMAJOR SPECIAL REVENUE FUNDS April 30, 2009

Motor Fuel Tax

Schaumburg Community Justice Transit Development Development Assistance Program Grant Block Grant Contribution

Medical Facility

Total

ASSETS Cash and cash equivalents Investments Receivables Accrued interest Other Due from other governments Allotments Other Due from other funds Prepaid expenses Total assets

$ 824,218

$

48,593 149,991

$

.

4,090

869,399

97,381

10,537

$ 1,928,143 5,953,546

$

3,910

$

.

$ 2,804,864 6,103,537

27,292 20,884

27,292 894,373

151,637 89,422

151,637 107,918 90,222 10,000

800 10,000

$1,065,277

$ 300,055

$

889,936

73,300

$ 141,256 3,832

$

7,473

$ 7,930,665

$

3,910

$

.

$10,189,843

$

$

-

$

-

$

LIABILITIES AND FUND BALANCES LIABILITIES Accounts payable Accrued salaries Unearned revenue -Rehab loans Unearned revenue -Meadow Knolls Due to other funds Total liabilities FUND BALANCES Reserved for highways and streets Reserved for traffic impact Reserved for public safety Unreserved Designated for streetlights Designated for traffic signals Designated for sidewalks/bikepaths Designated for parkway trees Designated for rights of way Total fund balances TOTAL LIABILITIES AND FUND BALANCES

$

73,300

154,967

868,601 798 13,064

300,055

889,936

2,519

2,519

1,265,810

5,154,182

991,977 5,154,182 3,910

991,977 3,910 1,572,486 194,669 211,224 565,171 230,414 991,977

$1,065,277

1,572,486 194,669 211,224 565,171 230,414

7,928,146

$ 300,055

$

- 85 -

889,936

224,548 3,832 868,601 798 168,031

$ 7,930,665

3,910

$

3,910

8,924,033

$

-

$10,189,843

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NONMAJOR SPECIAL REVENUE FUNDS For the Year Ended April 30, 2009

Motor Fuel Tax REVENUES Intergovernmental Charges for services Investment income Miscellaneous Total revenues EXPENDITURES Current General government Public safety Capital outlay Total expenditures EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES

$2,022,538

Justice Schaumburg Community Transit Development Development Assistance Grant Program Block Grant Contribution

$

19,371

196,189 193,189 6,179

$

375,341

$

-

$

96,237 217,505 736

2,041,909

395,557

376,077

313,742

2,060,382

160,504

2,934

1,869,900 1,869,900

2,060,382

172,009

(1,664,825)

OTHER FINANCING SOURCES (USES) Transfers in Transfers (out)

1,664,825

Total other financing sources (uses)

1,664,825

25,279

Total

16,290 945

$2,619,347 289,426 259,345 1,681

17,235

3,169,799

21,369

2,223,820 21,369 2,286,741 4,531,930

215,573

201,268

376,077

204,202

21,369

109,540

3,910

17,235

(1,161,352)

NET CHANGE IN FUND BALANCES

172,009

109,540

FUND BALANCES, MAY 1

819,968

7,818,606

FUND BALANCES, APRIL 30

$ 25,279

Medical Facility

$ 991,977

$

-

$

- 86-

-

$ 7,928,146

3,910

$

3,910

(1,362,131)

1,664,825 (1,161,352)

(1,161,352)

503,473

(1,144,117)

(858,658)

$

1,144,117

9,782,691

-

$8,924,033

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL MOTOR FUEL TAX FUND For the Year Ended April 30, 2009

REVENUES Intergovernmental Motor fuel tax Motor fuel tax - high growth Investment income Total revenues EXPENDITURES Capital outlay Roadway improvements Total expenditures NET CHANGE IN FUND BALANCE

Original Budget

Final Budget

Actual

$ 2,159,294 38,576 3,500

$ 2,051,000 38,576 3,500

$ 1,981,571 40,967 19,371

2,201,370

2,093,076

2,041,909

2,801,690

1,869,900

1,869,900

2,801,690

1,869,900

1,869,900

223,176

172,009

$ (600,320) $

FUND BALANCE, MAY 1

819,968

FUND BALANCE, APRIL 30

$

- 87 -

991,977

Variance Over (Under)

$

(69,429) 2,391 15,871 (51,167)

$

(51,167)

--

------------------------------------------------

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE-BUDGET AND ACTUAL SCHAUMBURG TRANSIT PROGRAM FUND For the Year Ended April 30, 2009

Original Budget REVENUES Intergovernmental Operating assistance - RTA Charges for services Mass transit fares Woodfield shuttle reimbursement Investment income Total revenues

$

173,419

$

63,750 118,729 3,000 358,898

EXPENDITURES General government Lunchtime Shopper Shuttle Personnel services Supplies Services and charges Total Lunchtime Shopper Shuttle

Final Budget

173,419

Actual

$

63,750 111,984 3,000 $

352,153

Variance Over (Under)

196,189

$

78,487 114,702 6,179 $

395,557

22,770 14,737 2,718 3,179

$

43,404

25,549 17,947 229,999 273,495

25,549 24,153 203,726 253,428

23,993 18,338 203,023 245,354

(1,556) (5,815) (703) (8,074)

56,763 71,625 989,657 1,118,045

56,763 107,713 989,007 1,153,483

55,761 95,401 973,051 1,124,213

(1,002) (12,312) (15,956) (29,270)

Taxi Subsidy Program Personnel services Supplies Services and charges Total Taxi Subsidy Program

3,873 413 10,486 14,772

3,873 1,129 11,857 16,859

3,871 116 9,416 13,403

(2) (1,013) (2,441) (3,456)

PACE Route 554 Personnel services Services and charges Total PACE Route 554

6,155 22,488 28,643

6,155 24,512 30,667

6,178 20,905 27,083

23 (3,607) (3,584)

DART Program Personnel services Supplies Services and charges Total DART Program

(This schedule is continued on the following page.)

- 88 -

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE-BUDGET AND ACTUAL SCHAUMBURG TRANSIT PROGRAM FUND (Continued) For the Year Ended April 30, 2009 Original and Final Budget

Original Budget EXPENDITURES (Continued) General government (Continued) PACE Route 602 Personnel services Services and charges Total PACE Route 602

6,155 80,560 86,715

Woodfield Trolley Service Personnel services Supplies Services and charges Total Woodfield Trolley Service

$

6,155 55,297 61,452

Variance Over (Under)

Actual

$

6,179 23,154 29,333

$

24 (32,143) (32,119)

41,731 8,275 753,559 803,565

41,731 8,275 607,671 657,677

40,713 4,485 575,798 620,996

(1,018) (3,790) (31,873) (36,681)

2,325,235

2,173,566

2,060,382

(113,184)

(DEFICIENCY) OF REVENUES OVER EXPENDITURES

(1,966,337)

(1,821,413)

(1,664,825)

156,588

OTHER FINANCING SOURCES Transfers in - General Fund

1,962,051

1,814,668

1,664,825

(149,843)

1,962,051

1,814,668

1,664,825

(149,843)

Total expenditures

Total other financing sources NET CHANGE IN FUND BALANCE

$

(4,286) $

- $

(6,745)

FUND BALANCE, MAY 1 FUND BALANCE, APRIL 30

$

- 89-

6,745

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL COMMUNITY DEVELOPMENT BLOCK GRANT FUND For the Year Ended April 30, 2009

Final Budget

Original Budget REVENUES Intergovernmental Entitlements Miscellaneous

$

Total revenues EXPENDITURES General government Personnel services Supplies Travel, meetings and trainings Advertising Dues and subscriptions Public services - CDBG Miscellaneous Capital outlay Building improvements Total expenditures NET CHANGE IN FUND BALANCE

$

680,107

$

793,007 25,000

Actual

$

$ (417,666) (24,264)

818,007

376,077

(441,930)

13,771 650 1,200 1,000 930 228,630 26

25,742 650 1,200 1,000 930 270,086 26

14,699 446 1,084 599 927 142,723 26

(11,043) (204) (116) (401) (3) (127,363)

433,900

518,373

215,573

(302,800)

680,107

818,007

376,077

(441,930)

- $

- $

$

- 90-

375,341 736

680,107

FUND BALANCE, MAY 1 FUND BALANCE, APRIL 30

Variance Over (Under)

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL DEVELOPMENT CONTRIBUTION FUND For the Year Ended April 30, 2009

Original and Final Budget REVENUES Charges for services Street lights Traffic impact Parkway trees Right of way improvements Miscellaneous Contributions from property owners Investment income

$

Total revenues EXPENDITURES General government Bad debt expense Capital outlay Enhancement improvements Roadway improvements Street lighting improvements Total expenditures NET CHANGE IN FUND BALANCE

$

FUND BALANCE, MAY 1

25,000 25,000 25,000 25,000

Actual

$

66,424 18,360 11,453

41,424 (6,640) (13,547) (25,000)

217,505

(50,000) 66,272

301,233

313,742

12,509

2,934

2,934

200,000 90,693 62,900

98,993 39,375 62,900

(101,007) (51,318)

353,593

204,202 ,

(149,391)

(52,360)

109,540

$ 7,928,146

- 91 -

$

50,000 151,233

7,818,606

FUND BALANCE, APRIL 30

Variance Over (Under)

$

161,900

- - - - - - - - - - - - - - - - - - - - - - - -

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL JUSTICE ASSISTANCE GRANT FUND For the Year Ended April 30, 2009

Final Budget

Original Budget REVENUES Intergovernmental Grants

- $

$

Total revenues

EXPENDITURES Public safety Personnel Grant expense Total expenditures NET CHANGE IN FUND BALANCE

16,119

Actual

$

25,279

9,160

16,119

14,056 7,313

(2,063) 7,313

16,119

21,369

5,250

3,910

$

- 92-

9,160

25,279

FUND BALANCE, MAY 1 FUND BALANCE, APRIL 30

$

16,119

- $

$

Variance Over (Under)

3,910

$

3,910

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL MEDICAL FACILITY FUND For the Year Ended April 30, 2009

Original Budget REVENUES Developer donations Investment income

$

Total revenues

7,500 26,000

Final Budget

$

7,500 26,000

Variance Over (Under)

Actual

$

945 16,290

$

(6,555) (9,710)

33,500

33,500

17,235

(16,265)

33,500

33,500

17,235

(16,265)

EXPENDITURES None Total expenditures EXCESS OF REVENUES OVER EXPENDITURES OTHER FINANCING (USES) Transfers (out) - General Fund Total other financing (uses) NET CHANGE IN FUND BALANCE

$

(26,000)

(1,150,000)

(1,161,352)

11,352

(26,000)

(1,150,000)

(1,161,352)

11,352

7,500

$(1,116,500)

(1,144,117) $

FUND BALANCE, MAY 1

1,144,117

FUND BALANCE, APRIL 30

$

- 93-

(27,617)

NONMAJOR DEBT SERVICE FUNDS General Obligation Capital Improvement Bonds, Series 2002A - to accumulate monies for payment of 2002A Series, $33,875,000 General Obligation Capital Improvement Bonds which are Serial Bonds due in annual installments until maturity in 2021. These bonds were issued to finance the improvements to fire stations, emergency communications center, utility burials and renovation of the Public Works Center. Financing is being provided by revenues other than property taxes. General Obligation Refunding Bonds, Series 2002B - to accumulate monies for payment of 2002B Series, $6,655,000 General Obligation Refunding Bonds which are Serial Bonds due in annual installments until maturity in 2009. These bonds were issued to refund $4,215,000 outstanding principal amount of General Obligation Refunding Bonds Series of 1993 and $2,060,000 outstanding principal amount of General Obligation Refunding Bonds Series of 1994 and to pay costs of the Village's Capital Improvement Program. Financing is being provided by revenues other than property taxes. General Obligation Bonds, Series 2004A - to accumulate monies for payment of 2004A Series, $17,050,000 General Obligation Bonds which are Serial Bonds due in annual installments until maturity in 2024. These bonds were issued to finance improvements within the Village. Financing is being provided by revenues other than property taxes. General Obligation Bonds, Series 2004B - to accumulate monies for payment of2004B Series, $4,505,000 General Obligation Bonds which are Serial Bonds due in annual installments until maturity in 2025. These bonds were issued to acquire land for future Village development. Financing is being provided by revenues other than property taxes. General Obligation Bonds, Series 2005A - to accumulate monies for payment of 2005A Series, $21,180,000 General Obligation Bonds which are Serial Bonds due in annual installments until maturity in 2024. These bonds were issued to finance improvements within the Village. Financing is being provided by revenues other than property taxes. General Obligation Bonds, Series 2005B - to accumulate monies for payment of 2005B Series, $3,320,000 General Obligation Bonds which are Serial Bonds due in annual installments until maturity in 2009. These bonds were issued to finance a portion of the pension liability created by the Village offering non-sworn employees the option of participating in an early retirement incentive program in calendar year 2004. Financing is being provided by revenues other than property taxes. General Obligation Bonds, Series 2008 - to accumulate monies for payment of 2008 Series, $8,500,000 General Obligation Bonds which are Serial Bonds due in annual installments until maturity in 2013. These bonds were issued to finance improvements within the Village. Financing is being provided by revenues other than property taxes. General Obligation Note (Special Service Area Five Project) Fund of 1991 - to accumulate monies for payment of 1991 General Obligation Not~: of $485,000. The note was issued to finance special local improvements within this special service area. Financing is being provided from a special two percent (2%) tax on the equalized assessed value of property within the area.

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING BALANCE SHEET NONMAJOR DEBT SERVICE FUNDS April 30, 2009 General Obligation Capital Improvement Bonds, Series 2002A ASSETS Cash and cash equivalents Investments Due from other funds Receivables Hotel tax Food and beverage tax Telecommunications tax

$

97,496 1,299,887 1

General Obligation Refunding Bonds, Series 2002B

$

19,343

General General Obligation Obligation Bonds, Bonds, Series 2004A Series 2004B

$

-

73,565 30,315 482,038

-

-

42,550

97,706

-

-

$

-

$

-

272,I05 149,997 9,698

General Obligation Bonds, Series 2005B

$

33,423 118,226

-

General Obligation Bonds Series 2008

General Obligation Note Fund of 1991

-

-

-

-

-

-

-

5,835

$

5,043

$

-

Total

$

106,988 288,797 482,038

-

-

766,397 1,524,882 9,973

539,553

$

-

$

583,449

$

5,835

$

5,043

$

-

$

3,179,075

-

$

$

-

$

5,043

$

-

-

$

8

-

$

-

-

5,043 1,500 72,339

61,893

1,500

-

8

-

5,043

-

78,882

1,972,864

-

538,053

-

583,441

5,835

-

-

3,IOO,193

1,972,864

-

538,053

-

583,441

5,835

-

-

3,100,193

$

1,983,302

$

61,893

$

$

-

$

-

$

-

IO,438

61,893

Total liabilities

10,438

FUND BALANCES Reserved for debt service

Total assets

366,575 74,998 274

General Obligation Bonds, Series 2005A

LiABILITIES AND FUND BALANCES LIABILITIES Accrued interest payable Accounts payable Due to other funds

Total fund balances TOTAL LIABILITIES AND FUND BALANCES

$

1,983,302

$

61,893

1,500

$

539,553

$

- 94-

-

$

583,449

$

5,835

-

$

5,043

$

-

$

3,179,075

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NONMAJOR DEBT SERVICE FUNDS For the Year Ended April 30, 2009

REVENUES Taxes Telecommunications Hotel/motel Food and beverage Investment income

General Obligation Capital Improvement Bonds, Series 2002A

General Obligation Refunding Bonds, Series 2002B

$

$

Total revenues EXPENDITURES Professional fees Debt service Bond principal Interest Rebate expense Total expenditures EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FINANCING SOURCES Transfers in Total other financing sources NET CHANGE IN FUND BALANCES

FUND BALANCES, APRIL 30

$

General Obligation Bonds, Series 2005A

-

General Obligation Bonds, Series 2005B

-

567,166 4,021

1,193,683 6,202

3,295,359

571,187

1,199,885

600

300

4,000

-

2,500

358

2,570,000 1,203,831

830,000 29,050

680,000 652,496

170,000 171,225

860,000 775,544

605,267 61,780

-

-

-

-

-

-

3,774,431

859,350

1,336,496

341,225

1,638,044

$

$

$

$

-

-

380,665 1,444,389 3,963

217

1,829,017

217

-

-

-

-

-

7,758

-

15,614

5,715,267 2,893,926 15,614

667,405

-

15,614

8,632,565

(667,188)

-

(15,614)

(1,736,900)

657,000

-

-

998,225

657,000

-

-

998,225

-

341,225 341,225

-

(479,072)

(288,163)

(136,611)

-

190,973

(10,188)

-

(15,614)

288,163

674,664

-

392,468

16,023

-

15,614

538,053

$

- 95 -

-

$

583,441

$

2,062,840 1,218,517 3,575,597 38,711 6,895,665

-

$

$

-

-

-

Total

-

(136,611)

$

190,973

$

(288,163)

1,972,864

(341,225)

$

General Obligation Note Fund ofl991

General Obligation Bonds, Series 2008

(479,072)

2,451,936

FUND BALANCES, MAY 1

-

General Obligation Bonds, Series 2004B

-

2,062,840 837,852 370,359 24,308

-

General Obligation Bonds, Series 2004A

5,835

$

-

$

-

(738,675) 3,838,868

$

3,100,193

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL GENERAL OBLIGAnON CAPITAL IMPROVEMENT BONDS, SERIES 2002A For the Year Ended April 30, 2009

Variance Over (Under)

Original Budget

Final Budget

Actual

REVENUES Taxes Telecommunications Hotel/motel Food and beverage Investment income

$ 1,856,648 1,081,510 390,000 24,000

$ 2,084,743 910,418 390,000 24,000

$ 2,062,840 837,852 370,359 24,308

Total revenues

3,352,158

3,409,161

3,295,359

(113,802)

1,000

1,000

600

(400)

2,570,000 1,203,832

2,570,000 1,203,832

2,570,000 1,203,831

(1)

3,774,832

3,774,832

3,774,431

(401)

EXPENDITURES Professional fees Debt service Bond principal Interest Total expenditures NET CHANGE IN FUND BALANCE

$ (422,674) $ (365,671)

FUND BALANCE, MAY 1

$ 1,972,864

- 96-

(21,903) (72,566) (19,641 ) 308

(479,072) $ (113,401) 2,451,936

FUND BALANCE, APRIL 30

$

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL GENERAL OBLIGAnON REFUNDING BONDS, SERIES 2002B For the Year Ended April 30, 2009

Original and Final Budget REVENUES Taxes Food and beverage Investment income

$

Total revenues EXPENDITURES Professional fees Debt service Bond principal Interest Total expenditures NET CHANGE IN FUND BALANCE

547,414 7,000

Actual

$

567,166 4,021

554,414

571,187

1,150

300

830,000 29,050

830,000 29,050

860,200

859,350

$ (305,786)

288,163 $

- 97-

$

(288,163) $

FUND BALANCE, MAY 1 FUND BALANCE, APRIL 30

Variance Over (Under)

19,752 (2,979) 16,773

(850)

(850) 17,623

---------------

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL GENERAL OBLIGAnON BONDS, SERIES 2004A For the Year Ended April 30, 2009

REVENUES Taxes Food and beverage Investment income

Original and Final Budget

Actual

$ 1,257,000 12,000

$ 1,193,683 6,202

1,269,000

1,199,885

3,000

4,000

680,000 652,496

680,000 652,496

1,335,496

1,336,496

Total revenues EXPENDITURES Professional fees Debt service Bond principal Interest Total expenditures NET CHANGE IN FUND BALANCE

$

(66,496)

674,664 $

- 98 -

$

(136,611) $

FUND BALANCE, MAY 1 FUND BALANCE, APRIL 30

Variance Over (Under)

538,053

(63,317) (5,798) (69,115)

1,000

1,000 (70,115)

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL GENERAL OBLIGAnON BONDS, SERIES 2004B For the Year Ended April 30, 2009

Original and Final Budget REVENUES None

$

Variance Over (Under)

Actual

-

$

- $

Total revenues EXPENDITURES Debt service Bond principal Interest

170,000 171,225

170,000 171,225

341,225

341,225

(DEFICIENCY) OF REVENUES OVER EXPENDITURES

(341,225)

(341,225)

OTHER FINANCING SOURCES Transfers in - General Fund

341,225

341,225

341,225

341,225

Total expenditures

Total other financing sources NET CHANGE IN FUND BALANCE

- $

$

FUND BALANCE, MAY 1 FUND BALANCE, APRIL 30

$

- 99-

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL GENERAL OBLIGAnON BONDS, SERIES 2005A For the Year Ended April 30, 2009

Final Budget

Original Budget REVENUES Taxes Hotel/motel Food and beverage Investment income

$

Total revenues EXPENDITURES Professional fees Debt service Bond principal Interest Total expenditures NET CHANGE IN FUND BALANCE

$

491,429 1,521,000 10,000

$

413,634 1,521,000 10,000

Variance Over (Under)

Actual

$

380,665 1,444,389 3,963

$

(32,969) (76,611) (6,037)

2,022,429

1,944,634

1,829,017

(115,617)

3,000

3,000

2,500

(500)

860,000 775,544

860,000 775,544

860,000 775,544

1,638,544

1,638,544

1,638,044

306,090

190,973

383,885

$

392,468

FUND BALANCE, MAY 1 $

FUND BALANCE, APRIL 30

- 100 -

583,441

(500) $

(115,117)

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL GENERAL OBLIGAnON BONDS, SERIES 2005B For the Year Ended April 30, 2009

Original and Final Budget REVENUES Investment income

$

400

Variance Over (Under)

Actual

$

217

$

(183)

400

217

(183)

500

358

(142)

605,267 61,780

605,267 61,780

667,547

667,405

(142)

(DEFICIENCY) OF REVENUES OVER EXPENDITURES

(667,147)

(667,188)

(41 )

OTHER FINANCING SOURCES Transfers in - General Fund

657,000

657,000

657,000

657,000

(10,147)

(10,188) $

Total revenues EXPENDITURES Professional fees Debt service Bond principal Interest Total expenditures

Total other financing sources NET CHANGE IN FUND BALANCE

$

FUND BALANCE, MAY 1

16,023

FUND BALANCE, APRIL 30

$

- 101 -

5,835

(41)

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL GENERAL OBLIGATION NOTE FUND OF 1991 For the Year Ended April 30, 2009

Original and Final Budget REVENUES Property taxes

$

Variance Over (Under)

Actual

- $

-

$

Total revenues EXPENDITURES Debt service Rebate expense Total expenditures NET CHANGE IN FUND BALANCE

$

15,614

15,614

15,614

15,614

(15,614)

(15,614) $

FUND BALANCE, MAY 1

15,614

FUND BALANCE, APRIL 30

$

- 102 -

NONMAJOR CAPITAL PROJECTS FUNDS

Facilities Fund - to account for the financial resources to be used for construction and improvements of public buildings, the purchase of land and for certain street improvements throughout the Village. Financing is provided by the issuance of $16,600,000 of general obligation bonds in 2000. Special Assessment #3 - Construction Fund - to account for the financial resources to be used for the construction of McLin Boulevard. Financing is provided by an annual special assessment on all property located within the special assessment area. 2005A Capital Improvement Project - to account for the financial resources to be used for the improvement and construction of streets and roads. Financing is provided by the issuance of general obligation bonds in 2005.

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING BALANCE SHEET NONMAJOR CAPITAL PROJECTS FUNDS April 30, 2009

Facilities ASSETS Cash and cash equivalents Total assets

2005A Special Capital Assessment Improvement #3 Construction Project

Total

$

$

$

165,796

$

165,796

$

$

$

165,796

$

165,796

$

$

$

78,137

$

87,659

78,137 31,600 87,659

165,796

197,396

LIABILITIES AND FUND BALANCES LIABILITIES Accounts payable Advances from other funds Due to other funds

31,600

Total liabilities

31,600

FUND BALANCES (DEFICITS) Reserved for capital projects Unreserved Undesignated Total fund balances (deficit) TOTAL LIABILITIES AND FUND BALANCES (DEFICITS)

$

- 103 -

$

(31,600)

(31,600)

(31,600)

(31,600)

$

165,796

$

165,796

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NONMAJOR CAPITAL PROJECTS FUNDS For the Year Ended April 30, 2009 Special Assessment #3 Construction

Facilities REVENUES Contributions Investment income

- $

$

7,900

2005A Capital Improvement Project

$

19,253

Total revenues

19,253

EXPENDITURES Capital outlay Debt service Total expenditures EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES

- $ 16,806

7,900 36,059

16,806

43,959

98,960

1,676,318 (4,273)

1,775,278 (4,273)

98,960

1,672,045

1,771,005

(1,655,239)

(1,727,046)

(79,707)

OTHER FINANCING USES Transfers Out

7,900

Total

7,900

(1,853,370)

(1,853,370)

Total other financing uses

(1,853,370)

(1,853,370)

NET CHANGE IN FUND BALANCES

(1,933,077)

7,900

(1,655,239)

(3,580,416)

FUND BALANCES (DEFICIT), MAY 1

1,933,077

(39,500)

1,655,239

3,548,816

FUND BALANCES (DEFICIT), APRIL 30

- $

$

- 104 -

(31,600) $

-

$

(31,600)

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FACILITIES FUND For the Year Ended April 30, 2009

Final Budget

Original Budget REVENUES Investment income

-

$

$

Actual

-

$

Total revenues EXPENDITURES Capital outlay General projects Building improvements Utility burial Total expenditures DEFICIENCY OF REVENUES OVER EXPENDITURES OTHER FINANCING USES Transfer Out - Capital Improvement Fund NET CHANGE IN FUND BALANCE

Variance Over (Under)

19,253

$

19,253

19,253

19,253

67,500 25,000

117,663 14,500

85,460 13,500

(32,203) (1,000)

92,500

132,163

98,960

(33,203)

(92,500)

(132,163)

(79,707)

52,456

$ (1,814,090) $ (1,814,090) $ (1,853,370) $

(39,280)

(1,946,253)

13,176

(1,906,590)

(1,933,077)

FUND BALANCE, MAY 1

1,933,077

FUND BALANCE, APRIL 30

$

- 105 -

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL SPECIAL ASSESSMENT #3 - CONSTRUCTION FUND For the Year Ended April 30, 2009

Original and Final Budget REVENUES Contributions

$

Total revenues

7,900

Variance Over (Under)

Actual

$

7,900

7,900

7,900

7,900

7,900

$

EXPENDITURES None Total expenditures NET CHANGE IN FUND BALANCE

$

FUND BALANCE (DEFICIT), MAY I

(39,500)

FUND BALANCE (DEFICIT), APRIL 30

$

- 106 -

(31,600)

$

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULES OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL 2005A CAPITAL IMPROVEMENT PROJECT FUND For the Year Ended April 30, 2009

Original Budget REVENUES Investment income

$

Total revenues EXPENDITURES Capital outlay Roadway improvements Debt Service Total expenditures NET CHANGE IN FUND BALANCE

$

7,000

Final Budget

$

7,000

Variance Over (Under)

Actual

$

16,806

$

16,806

9,806 9,806

7,000

7,000

955,093 6,000

1,680,093 6,000

1,676,318 (4,273)

(3,775) (10,273)

961,093

1,686,093

1,672,045

(14,048)

(954,093) $ (1,679,093)

(1,655,239) $

FUND BALANCE, MAY 1

1,655,239

FUND BALANCE, APRIL 30

$

- 107 -

23,854

NONMAJOR ENTERPRISE FUNDS

Commuter Parking Lot Fund - to account for the financial resources involved in operating the commuter parking lot. Financing is provided primarily from user charges and supplemented with investment earnings. Expenses are primarily contractual services to maintain the lot as well as some expenses for supplies. Performing Arts Center Fund - to account for the financial resources to be used for the construction of a performing arts center to be built in future years on the property adjacent to the Schaumburg Hotel and Convention Center. Financing is provided currently by a percentage of intergovernmental revenues, transfers from other funds, and interest income.

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING BALANCE SHEET NONMAJOR ENTERPRISE FUNDS April 30, 2009 Performing Arts Center

Commuter Parking Lot

Total

ASSETS Cash and cash equivalents Investments Receivables Other Due from other governments Capital assets Land Land improvements Buildings Machinery and equipment Less accumulated depreciation Total assets

$

73,468 599,926

$

237,407 1,645,029

$

2,106

310,875 2,244,955 2,106 20,890

20,890 724,599 4,128,903 358,258 87,290 (3,490,981 )

724,599 4,128,903 358,258 87,290 (3,490,981 )

$

2,483,569

$

1,903,326

$

4,386,895

$

92,747 350 752

$

-

$

92,747 350 752

LIABILITIES AND FUND BALANCES LIABILITIES Accounts payable Deposits Due to other funds Total liabilities

93,849

FUND BALANCES Net invested in capital assets Unreserved Total fund balances TOTAL LIABILITIES AND FUND BALANCES

$

93,849

1,808,069 581,651

1,903,326

1,808,069 2,484,977

2,389,720

1,903,326

4,293,046

2,483,569

- 108 -

$

1,903,326

$

4,386,895

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS NONMAJOR ENTERPRISE FUNDS For the Year Ended April 30, 2009

Performing Arts Center

Commuter Parking Lot OPERATING REVENUES Charges for services

$

Total operating revenues

247,229

$

Total

-

$

247,229

247,229

247,229

111,726 177,368

111,726 177,368

289,094

289,094

OPERATING (LOSS) BEFORE DEPRECIAnON AND AMORTIZATION

(41,865)

(41,865)

DEPRECIATION AND AMORTIZATION

493,271

493,271

(535,136)

(535,136)

OPERATING EXPENSES EXCLUDING DEPRECIATION AND AMORTIZATION Supplies Services and charges Total operating expenses excluding depreciation and amortization

OPERATING (LOSS) NONOPERATING INCOME Investment income Income tax Total nonoperating income INCOME (LOSS) BEFORE TRANSFERS TRANSFERS Transfers in Total transfers CHANGE IN NET ASSETS

11,560

22,934 148,756

34,494 148,756

11,560

171,690

183,250

(523,576)

171,690

(351,886)

10,000

531,048

541,048

10,000

531,048

541,048

702,738

189,162

1,200,588

4,103,884

1,903,326

$ 4,293,046

(513,576)

NET ASSETS, MAY 1

2,903,296

NET ASSETS, APRIL 30

$ 2,389,720

. 109·

$

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING STATEMENT OF CASH FLOWS NONMAJOR ENTERPRISE FUNDS For the Year Ended April 30, 2009

Commuter Parking CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers and users Receipts from miscellaneous revenues Payments to suppliers Other receipts (payments)

$

246,176

Performing Arts Center

$

Total

- $ 148,756

(202,505) (6,961)

Net cash from operating activities

43,671

CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Purchase of property and equipment Net cash from capital and related financing activities CASH FLOWS FROM INVESTING ACTIVITIES Purchase of investments Sale of investments Investment income received Net cash from investing activities CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers in Due to/from other funds Net cash from noncapital financing activities NET INCREASE IN CASH AND CASH EQUIVALENTS

141,795

(87,290)

(87,290)

(87,290)

(507,684) 354,265 11,560

(1,645,029)

(141,859)

(1,622,095)

(2,152,713) 354,265 34,494

22,934

(1,763,954)

10,000 752

531,048 9,651

541,048 10,403

10,752

540,699

551,451

(939,601)

248,194

(1,114,327)

1,177,008

CASH AND CASH EQUIVALENTS, APRIL 30

$

73,468

SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING, CAPITAL AND FINANCING ACTIVITIES Increase in fair value of investments

$

(2,113) $

- 110 -

185,466

(87,290)

(174,726)

CASH AND CASH EQUIVALENTS, MAY 1

246,176 148,756 (202,505) (6,961)

$

237,407

1,425,202

$

(834) $

310,875

(2,947)

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING STATEMENT OF CASH FLOWS NONMAJOR ENTERPRISE FUNDS (Continued) For the Year Ended April 30, 2009

Performing Arts Center

Commuter Parking RECONCILIATION OF OPERATING (LOSS) TO NET CASH FLOWS FROM (FOR) OPERATING ACTIVITIES Operating (loss) Adjustments to reconcile operating (loss) to net cash from operating activities Depreciation Miscellaneous nonoperating income Changes in assets and liabilities Receivables Accounts payable

$

(535,136) $

Total

- $

493,271 148,756

493,271 148,756

$

NET CASH FROM OPERATING ACTIVITIES

- 111 -

43,671

(8,014) 86,589

(6,961)

(1,053) 86,589

$

141,795

(535,136)

$

185,466

INTERNAL SERVICE FUNDS

Vehicle Replacement Fund - to account for costs of providing certain operating vehicles used by Village departments. Financing is provided by charges to other funds. Technology Replacement Fund - to account for costs of providing certain equipment used by Village departments. Financing is provided by charges to other funds. Building Replacement Fund - to account for costs of major repairs and improvements of certain buildings used by Village departments. Financing is provided by charges to other funds. Risk Management Fund - to account for the servicing and payment of claims for liability, property and casualty coverage, workers' compensation, and medical benefits. Financing is provided by charges to the various Village funds.

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING STATEMENT OF NET ASSETS INTERNAL SERVICE FUNDS April 30, 2009

CURRENT ASSETS Cash and cash equivalents Investments Receivables Accrued interest Due from other funds Prepaid expenses Total current assets PROPERTY AND EQUIPMENT Vehicles Construction in progress Land improvements Building improvements Machinery and equipment Less accumulated depreciation

Vehicle Replacement

Building Risk Technology Replacement Replacement Management

$

$

606,335 2,791,425

128,476 649,268

1,938

$

355,944 1,128,951

$ 1,444,109 6,603,878

$ 2,534,864 11,173,522

7,833

3,192 547,517

12,963 38 547,517

8,598,696

14,268,904

38

3,399,698

777,782

Total

1,492,728

13,221,882

13,221,882 628,427 737,728 1,325,743 752,414 (8,042,680) 8,623,514

(7,508,535)

255,099 (124,276)

628,427 737,728 1,325,743 497,315 (409,869)

Net property and equipment

5,713,347

130,823

2,779,344

Total assets

9,113,045

908,605

4,272,072

8,598,696

22,892,418

42,459

7,000

168,638

137,925 3,150 3,081,324

356,022 3,150 3,081,324

Total current liabilities

42,459

7,000

168,638

3,222,399

3,440,496

Total liabilities

42,459

7,000

168,638

3,222,399

3,440,496

5,713,347 3,357,239

130,823 770,782

2,779,344 1,324,090

5,376,297

8,623,514 10,828,408

901,605

$ 4,103,434

$ 5,376,297

$19,451,922

CURRENT LIABILITIES Accounts payable Due to other funds Claims payable

NET ASSETS Invested in capital assets, net of related debt Unrestricted Total net assets

$ 9,070,586

$

- 112 -

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS INTERNAL SERVICE FUNDS For the Year Ended April 30, 2009

Vehicle Building Risk Technology Replacement Replacement Replacement Management OPERATING REVENUES Charges for services OPERATING EXPENSES (EXCLUDING DEPRECIATION) Capital outlay Services and charges Total operating expenses excluding depreciation

$ 1,126,074

$

95,259

$12,755,708

$14,774,816

92,307 42,520

13,574,541

717,358 13,617,061

529,792

134,827

13,574,541

14,334,419

420,000

529,792

95,259

Total

$

473,034

OPERATING INCOME (LOSS) BEFORE DEPRECIATION

1,030,815

(109,792)

338,207

DEPRECIATION

1,036,585

42,623

97,287

(152,415)

240,920

(818,833)

(736,098)

121,706 135,614 94,000

18,811

47,374

187,940 164,273

375,831 299,887 94,300

351,320

19,111

47,374

352,213

770,018

345,550

(133,304)

288,294

(466,620)

33,920

OPERATING INCOME (LOSS) NONOPERATING REVENUE Investment income Miscellaneous revenue Gain on disposal of capital assets Total nonoperating revenue INCOME (LOSS) BEFORE TRANSFERS TRANSFERS Transfers out CHANGE IN NET ASSETS NET ASSETS, MAY 1 NET ASSETS, APRIL 30

(5,770)

(818,833)

1,176,495

300

(1,000,000)

(1,000,000)

(654,450)

(133,304)

9,725,036 $ 9,070,586

440,397

$

- 113 -

288,294

(466,620)

(966,080)

1,034,909

3,815,140

5,842,917

20,418,002

901,605

$ 4,103,434

$ 5,376,297

$19,451,922

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS For the Year Ended April 30, 2009

Building Risk Vehicle Technology Replacement Replacement Replacement Management CASH FLOWS FROM OPERATING ACTIVITIES Receipts from interfund service transactions $ 1,126,074 $ 420,000 $ Receipts from miscellaneous revenues 135,614 Payments to suppliers (95,259) (528,888) Net cash from operating activities

1,166,429

(108,888)

CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Purchase of property and equipment (2,181,620) Proceeds from the sale of equipment 94,000

Total

$12,755,708 $14,774,816 164,273 299,887 (33,417) (12,684,858) (13,342,422)

473,034

439,617

1,732,281

235,123

(131,119) 300

(1,787,706)

(4,100,445) 94,300

(2,087,620)

(130,819)

(1,787,706)

(4,006,145)

CASH FLOWS FROM INVESTING ACTIVITIES Purchase of investments (2,133,400) Sale of investments 2,775,113 Investment income received 130,318

(660,383) 252,470 18,811

(1,429,841) 2,294,205 59,491

(7,543,361) (11,766,985) 6,444,274 11,766,062 190,950 399,570

Net cash from (for) capital and related financing activities

Net cash from (for) investing activities CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers in (out) Due to/from other agencies Due to/from other funds

923,855

(908,137)

398,647

(1,000,000)

Net cash from (for) noncapital financing activities NET INCREASE IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS, MAY 1 CASH AND CASH EQUIVALENTS, APRIL 30

(389,102)

772,031

21,485

134

37,395 (27,845)

(978,515)

134

9,550

(1,000,000) 37,395 (6,226) (968,831)

(1,127,675)

(628,675)

(424,234)

1,734,010

757,151

780,178

2,107,573

5,378,912

355,944

$ 1,444,109

$ 2,534,864

$

606,335

$

128,476

$

SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING, CAPITAL AND FINANCING ACTIVITIES Increase (decrease) in fair value of investments $

13,520

$

3,775

$

- 114 -

(663,464)

(180) $

(2,844,048)

(9,623) $

7,492

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS (Continued) For the Year Ended April 30, 2009

Vehicle Replacement

Technology Building Risk Replacement Replacement Management

RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH FLOWS FROM OPERATING ACTIVITIES Operating income (loss) (5,770) $ (152,415) $ $ Adjustments to reconcile operating income (loss) to net cash from operating activities Depreciation 1,036,585 42,623 Miscellaneous nonoperating income 135,614 Changes in assets and liabilities Prepaid items Accounts payable 904 Claims payable NET CASH FROM OPERATING ACTIVITIES

$

1,166,429

- 115 -

$ (108,888) $

240,920

$ (818,833) $ (736,098)

97,287 164,273 (10,520) 38,325 861,878

101,410

439,617

Total

$

235,123

1,176,495 299,887 (10,520) 140,639 861,878 $1,732,281

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL VEHICLE REPLACEMENT FUND For the Year Ended April 30, 2009

OPERATING REVENUES Charges for services Vehicle rental charges OPERATING EXPENSES EXCLUDING DEPRECIAnON Capital outlay Less: Amount capitalized Total operating expenses excluding depreciation OPERATING INCOME (LOSS) BEFORE DEPRECIAnON DEPRECIAnON OPERATING INCOME (LOSS) NONOPERATING REVENUE Investment income Miscellaneous revenue Gain on disposal of capital assets Total nonoperating revenue INCOME (LOSS) BEFORE TRANSFERS

Original Budget

Final Budget

$ 1,126,074

$ 1,126,074

1,896,703

2,654,384

1,896,703

2,654,384

(770,629) 970,000 (1,740,629)

Variance Over (Under)

Actual

$

1,126,074

2,305,243 (2,209,984)

95,259

(1,528,310) 970,000 (2,498,310)

$

(349,141) (2,209,984)

(2,559,125)

1,030,815

2,559,125

1,036,585

66,585

(5,770)

2,492,540

100,000 105,320

100,000 105,320

121,706 135,614 94,000

21,706 30,294 94,000

205,320

205,320

351,320

146,000

345,550

2,638,540

(1,535,309)

TRANSFERS Transfers out

(2,292,990)

(1,000,000)

(1,000,000)

Total transfers

(1,000,000)

(1,000,000)

CHANGE IN NET ASSETS

$(1,535,309) $(3,292,990)

(654,450) $ 2,638,540

NET ASSETS, MAY 1

9,725,036

NET ASSETS, APRIL 30

$

- 116 -

9,070,586

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL TECHNOLOGY REPLACEMENT FUND For the Year Ended April 30, 2009

Original Budget OPERATING REVENUES Charges for services Equipment rental charges

$

745,000

Final Budget

$

OPERATING EXPENSES (EXCLUDING DEPRECIATION) Capital outlay 679,392 Total operating expenses excluding depreciation

420,000

Variance Over (Under)

Actual

$

420,000

$

679,392

529,792

(149,600)

679,392

679,392

529,792

(149,600)

65,608

(259,392)

(109,792)

149,600

42,623

33,023 116,577

OPERATING INCOME (LOSS) BEFORE DEPRECIATION DEPRECIATION

9,600

9,600

OPERATING INCOME (LOSS)

56,008

(268,992)

(152,415)

NONOPERATING REVENUE Investment income Gain on sale of assets

20,000

20,000

18,811 300

(1,189) 300

20,000

20,000

19, III

(889)

Total nonoperating revenue CHANGE IN NET ASSETS

$

76,008

$

(248,992)

(133,304) $

NET ASSETS, MAY 1

1,034,909

NET ASSETS, APRIL 30

$

- 117 -

901,605

115,688

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL BUILDING REPLACEMENT FUND For the Year Ended April 30, 2009

Final Budget

Original Budget OPERATING REVENUES Charges for services Building rental charges

$

946,067

$

Variance Over (Under)

Actual

473,034

$ 473,034

$

OPERATING EXPENSES EXCLUDING DEPRECIATION Capital outlay Contractual services

2,677,500 75,000

2,260,000 75,000

92,307 42,520

(2,167,693) (32,480)

Total operating expenses excluding depreciation

2,752,500

2,335,000

134,827

(2,200,173 )

0,806,433)

(1,861,966)

338,207

2,200,173

97,287

22,287

240,920

2,177,886

OPERATING INCOME (LOSS) BEFORE DEPRECIATION DEPRECIATION OPERATING INCOME (LOSS)

75,000 (1,881,433)

NONOPERATING REVENUE (EXPENSES) Investment income Total nonoperating revenue (expenses) CHANGE IN NET ASSETS

75,000 (1,936,966)

44,745

44,745

47,374

2,629

44,745

44,745

47,374

2,629

288,294

$2,180,515

$ (1,836,688) $ (1,892,221)

NET ASSETS, MAY 1

3,815,140

NET ASSETS, APRIL 30

$4,103,434

- 118 -

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL RISK MANAGEMENT FUND For the Year Ended April 30, 2009

Final Budget

Original Budget OPERATING REVENUES Charges for services Property and casualty Workers compensation Employee benefits

$

Total operating revenues OPERATING EXPENSES Contractual services Property and casualty Workers compensation Employee benefits Total operating expenses

1,021,096 1,428,350 10,513,138

$

1,021,096 1,428,350 10,357,276

Variance Over (Under)

Actual

$

1,021,096 1,428,350 10,306,262

$ (51,014)

12,962,584

12,806,722

12,755,708

(51,014)

1,021,095 1,253,350 10,598,154

1,021,095 1,253,350 10,598,154

1,470,634 1,520,472 10,583,435

449,539 267,122 (14,719)

12,872,599

12,872,599

13,574,541

701,942

OPERATING INCOME (LOSS)

89,985

(65,877)

(818,833)

(752,956)

NONOPERATING REVENUE Investment income Miscellaneous revenue

138,000

138,000

187,940 164,273

49,940 164,273

138,000

138,000

352,213

214,213

Total nonoperating revenue CHANGE IN NET ASSETS

$

227,985

$

(466,620) $

72,123

NET ASSETS, MAY 1

5,842,917

$

NET ASSETS, APRIL 30

- 119-

5,376,297

(538,743)

AGENCY FUNDS

Builders' Escrow Fund - to account for the retention of escrow deposits. Special Service Area #6, #7, #8, #9, #10, #11 Bonds and Interest Funds - to account for the financial resources to be used for the construction of certain sanitary sewage and water main systems. Financing is provided by levy of an annual tax on all property located within the special service area.

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING BALANCE SHEET AGENCY FUNDS April 30, 2009

Special Service Area #6

Builders' Escrow ASSETS Cash and cash equivalents Receivables Due from property owners

$170,387

$

-

-

$

Special Service Area #9

Special Service Area #8

Special Service Area #7

$

-

$

Special Service Area#IO

-

$ 187,780

$143,412

$ 607,477

.

-

$

.

$ 105,898

LIABILITIES Deposits Advance from other funds

$ 170,387

$

-

$

-

$

-

$

Total liabilities

$170,387

-

-120 -

$

-

$ 170,387 437,090

$

$

143,412

-

-

$

187,780

$

$

-

Total

105,898 $ 170,387

Total assets

$

Special Service Area #11

-

-

105,898

187,780

143,412

$ 170,387 437,090

$105,898

$ 187,780

$143,412

$607,477

$

$

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES AGENCY FUNDS

For the Year Ended April 30, 2009

Balances May 1

Additions

Balances April 30

Deductions

ALL FUNDS ASSETS Cash and cash equivalents Receivables Due from property owners Total assets

$

$

$

186,026

$

77,306 125,615

$

263,332

$

- $

75,250 27,797

$

75,250 88,208 77,306

$

230,798 514,396

170,387 437,090

$

745,194

$

Totalliabilities

125,615

514,396 $

LIABILITIES Accounts payable Deposits Advance from other funds

230,798

607,477

170,387 437,090

$

745,194

$

103,047

$

240,764

$

607,477

$

230,798

$

22,338

$

82,749

$

170,387

$

230,798

$

22,338

$

82,749

$

170,387

- $

75,250 27,797

$

75,250 88,208

$

103,047

$

163,458

$

BUILDERS' ESCROW FUND ASSETS Cash and cash equivalents Total assets LIABILITIES Accounts payable Deposits Totalliabilities

$

230,798 $

230,798

$

(This statement is continued on the following pages) - 121 -

170,387 170,387

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES (Continued) AGENCY FUNDS For the Year Ended April 30, 2009

Balances May I

Balances April 30

Deductions

Additions

SPECIAL SERVICE AREA #6 FUND ASSETS Cash and cash equivalents Receivables Due from property owners Total assets LIABILITIES Advance from General Fund Total liabilities

$

-

$

2,744

$

2,744

$

2,690

2,690 $

5,434

$

$

- $

2,690

$

$

- $

2,690

$

3,981

$

$

2,690

$

$

2,690

$

2,690

2,744

SPECIAL SERVICE AREA #7 FUND ASSETS Cash and cash equivalents Receivables Due from property owners Total assets

$

3,981

$

4,641 $

LIABILITIES Advance from General Fund Total liabilities

- $

$

4,641

4,641

$

4,641 4,641

3,981

$

8,622

$

- $

4,641

$

- $

4,641

(This statement is continued on the following pages.) - 122-

$

$

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES (Continued) AGENCY FUNDS For the Year Ended April 30, 2009

Balances May I

Additions

Balances April 30

Deductions

SPECIAL SERVICE AREA #8 FUND ASSETS Cash and cash equivalents Receivables Due from property owners

$

- $

2,304

$

2,863

Total assets LIABILITIES Advance from General Fund Total liabilities

2,304

$

2,863

$

2,863

$

$

2,863

$

$

2,304

$

5,167

$

$

- $

2,863

$

2,863

$

- $

2,863

$

-

$

28,228

$

SPECIAL SERVICE AREA #9 FUND ASSETS Cash and cash equivalents Receivables Due from property owners

$

126,905

Total assets LIABILITIES Advance from Waterworks and Sewerage Fund Total liabilities

28,228

21,007

$

126,905

$

$

126,905

$

126,905

28,228

$

49,235

$

105,898

$

- $

21,007

$

105,898

$

- $

21,007

$

105,898

(This statement is continued on the following page.)

- 123 -

105,898

VILLAGE OF SCHAUMBURG, ILLINOIS COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES (Continued) AGENCY FUNDS For the Year Ended April 30, 2009

Balances May I

Additions

Balances April 30

Deductions

SPECIAL SERVICE AREA #10 FUND ASSETS Cash and cash equivalents Receivables Due from property owners Total assets LIABILITIES Advance from Waterworks and Sewerage Fund Total liabilities

$

- $

46,060

$

46,060

$

34,108

221,888

$

221,888

$

$

221,888

$

221,888

187,780

$

80,168

$

187,780

$

- $

34,108

$

187,780

$

$

34,108

$

187,780

$

19,960

$

46,060

SPECIAL SERVICE AREA #11 FUND ASSETS Cash and cash equivalents Receivables Due from property owners Total assets

$

19,960

155,409

$

LIABILITIES Advance from Waterworks and Sewerage Fund Total liabilities

- $

155,409

11,997

$

19,960

$

155,409

$

- 124 -

155,409

31,957

143,412

$

11,997

$

- $

11,997

143,412

143,412

$

143,412

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES - BUDGET AND ACTUAL GENERAL FUND For the Year Ended April 30, 2009

Original Budget TAXES Telecommunications tax Hotel tax Food and beverage taxes Foreign fire insurance tax Automobile rental tax Home rule sales tax

$

Total taxes LICENSES AND PERMITS Licenses Liquor Class A Class B Class C Class D Class E Class F Class G Class H Class I Class J Class K Class M Business Vending machines Weights and measures fees Vehicle licenses Animal license Rental license Other Entertainment Permits Building Single family Townhouses Other Commercial Industrial Additions and conversions Fences Public improvements Sign Special events Utility Permits Total licenses and permits

1,499,002 3,145,878 4,030,959 92,713 165,000 21,473,489

Final Budget

$

1,683,137 2,648,104 4,030,959 92,713 165,000 20,331,753

Variance Over (Under)

Actual

$

1,665,454 2,437,034 3,780,592 92,147 149,211 18,905,780

$

(17,683) (211,070) (250,367) (566) (15,789) (1,425,973)

30,407,041

28,951,666

27,030,218

(1,921,448)

255,000 35,000 11,750 10,000 18,000 19,500

255,000 35,000 11,750 10,000 18,000 19,500

315,500 45,000 12,750 8,938 30,000 20,400 600

750 500 8,000 47,500

750 500 8,000 47,500

60,500 10,000 1,000 (1,062) 12,000 900 600 (750)

752,000 142,600 7,000 1,060,000 26,000 154,500 82,000 9,000

752,000 142,600 7,000 1,060,000 26,000 154,500 82,000 9,000

500 9,000 42,000 6,000 755,488 135,798 6,130 1,005,264 35,060 167,454 98,605 9,470

20,000 25,000 300,000 235,800 5,000 100,000 5,000 300,000 115,360 1,000

20,000

38,339

175,000 50,000 5,000 100,000 5,000 200,000 115,360 1,000

204,605 21,240 2,725 198,666 6,905 70,870 115,618 5,220 2,832

3,746,260

3,310,460

3,370,977

(This schedule is continued on the following pages.)

- 125 -

1,000 (5,500) 6,000 3,488 (6,802) (870) (54,736) 9,060 12,954 16,605 470

18,339 29,605 (28,760) (2,275) 98,666 1,905 (129,130) 258 4,220 2,832 60,517

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES - BUDGET AND ACTUAL GENERAL FUND (Continued) For the Year Ended April 30, 2009

Final Budget

Actual

Variance Over (Under)

$ 28,748,165 7,131,159 16,900 388,850 28,000

$ 26,556,100 6,770,138 17,103 430,469 22,433

$ (2,192,065) (361,021) 203 41,619 (5,567)

38,371,418

36,313,074

33,796,243

(2,516,831 )

951,469 1,000 40,000 80,000 75,000 1,000 50,000 155,000 138,000 3,000 35,000 750 90,000 1,000 500 13,000 319,500 1,536,150 224,205 230,026 24,150 1,500 85,000 75,000 250 14,000 6,590 312,000 45,000 38,000 500 70,000 25,000 5,000

951,469 1,000 40,000 80,000 75,000 1,000 50,000 65,000 138,000 3,000 35,000 750 90,000 1,000 500 13,000 319,500 1,536,150 107,920 300,000 24,150 1,500 85,000 75,000 250 14,000 6,590 312,000 45,000 38,000 500 70,000 25,000 5,000

1,014,310 573 66,700 6,674 46,493 591 150 71,092 102,595 11,678 57,770 44 94,647 532 920 17,376 260,075 1,476,939 129,207 312,397 17,188 2,700 106,957 27,340 160 9,920 4,674 294,789 46,989 45,589 512 66,601 20,395 20,215

62,841 (427) 26,700 (73,326) (28,507) (409) (49,850) 6,092 (35,405) 8,678 22,770 (706) 4,647 (468) 420 4,376 (59,425) (59,211) 21,287 12,397 (6,962) 1,200 21,957 (47,660) (90) (4,080) (1,916) (17,211) 1,989 7,589 12 (3,399) (4,605) 15,215

4,646,590

4,510,279

4,334,792

(175,487)

Original Budget mTERGOVERNMENTAL Revenues from other agencies $ 30,899,862 Sales tax 7,037,806 Income tax 16,900 County gasoline tax rebate Village share of township road and bridge tax 388,850 Personal property replacement tax 28,000 Total intergovernmental CHARGES FOR SERVICES Cable TV franchise fees Plan and specification fees Zoning fees Plans' examination fees Plan review - fire systems Plat recording fees Framing inspection fees Electrical inspection fees Elevator inspection fees Code violation fees Occupancy permit fees Sign variation fees Nicor franchise fees Sale of ordinance, maps and codes Street signs Family counseling fees Security alarm service and fees Ambulance service fees Police - youth consultant fees Police - traffic and miscellaneous details Police accident reports Police and fire exam fees Fire permit fees Plumbing and fixture fees Health inspection fees Health department - flu shot revenue Health department - miscellaneous revenue Prairie Center ticket sales Building rentals Building labor Building commission PCA miscellaneous fees Fast track review fees Other penalty fees Total charges for services

(This schedule is continued on the following pages.) - 126 -

- 127 -

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF EXPENDITURES- BUDGET AND ACTUAL GENERAL FUND For the Year Ended April 30, 2009

Final Budget

Original Budget GENERAL GOVERNMENT Village President and Board of Trustees Mayor's Office Personnel services Supplies Services and charges Total

$

244,733 14,400 114,940 374,073

$

244,733 14,400 114,940 374,073

Variance Over (Under)

Actual

$

248,170 12,682 111,888 372,740

$

3,437 (1,718) (3,052) (1,333)

Clerk's Office Personnel services Supplies Services and charges Total

10,695 750 6,820 18,265

10,695 750 6,820 18,265

10,708 574 7,236 18,518

13 (176) 416 253

Boards and Commissions Plan Commission Personnel services Services and charges Total

6,807 2,121 8,928

6,807 2,121 8,928

6,115 2,100 8,215

(692) (21) (713)

Zoning Board Personnel services Supplies Services and charges Total

10,610 180 7,683 18,473

10,610 180 7,683 18,473

9,258 5,510 14,768

(1,352) (180) (2,173) (3,705)

Blood Program Committee Personnel services Supplies Total

2,324 630 2,954

2,324 630 2,954

2,562 625 3,187

238 (5) 233

Fire and Police Commission Personnel services Supplies Services and charges Total

3,035 430 71,275 74,740

3,035 430 71,275 74,740

3,186 289 44,541 48,016

151 (141) (26,734) (26,724)

Board of Health Personnel services Supplies Total

3,102 35 3,137

3,102 35 3,137

3,133 23 3,156

31 (12) 19

F.C.C. Advisory Committee Personnel services

2,431

2,431

2,476

45

(This schedule is continued on the following pages.)

- 128 -

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF EXPENDITURES- BUDGET AND ACTUAL GENERAL FUND (Continued) For the Year Ended April 30, 2009

Original Budget GENERAL GOVERNMENT (Continued) Boards and Commissions (Continued) Environmental Committee Personnel services Supplies Services and charges Total

$

Business Development Commission Personnel services Supplies Services and charges Total

5,059 1,000 200 6,259

Final Budget

$

5,059 1,000 200 6,259

Variance Over (Under)

Actual

$

5,370 5,586 200 11,156

$

311 4,586 4,897

354 3,325 26,753 30,432

354 3,325 26,753 30,432

493 100 20,054 20,647

Olde Schaumburg Commission Personnel services

6,079

6,079

6,341

262

Electrical Commission Personnel services

2,024

2,024

1,593

(431)

Teen Center Advisory Board Personnel services

4,041

4,041

3, III

(930)

Committee on Aging Personnel services Supplies Total

8,232 1,400 9,632

8,232 1,400 9,632

7,718 1,006 8,724

(514) (394) (908)

Bikeways Advisory Committee Personnel services Services and charges Total

2,873 135 3,008

2,873 135 3,008

2,454 2,454

(419) (135) (554)

Peer Jury Personnel services Supplies Total

1,874 450 2,324

1,874 450 2,324

1,539 444 1,983

(335) (6) (341)

Cultural Commission Personnel services

5,991

5,991

6,179

188

3,871 8,295 8,376 20,542

3,871 8,295 8,376 20,542

2,896 6,046 6,756 15,698

Sister Cities Commission Personnel services Supplies Services and charges Total

(This schedule is continued on the following pages.)

- 129 -

139 (3,225) (6,699) (9,785)

(975) (2,249) (1,620) (4,844)

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF EXPENDITURES- BUDGET AND ACTUAL GENERAL FUND (Continued) For the Year Ended April 30, 2009

Final Budget

Original Budget GENERAL GOVERNMENT (Continued) Boards and Commissions (Continued) Septemberfest Committee Personnel services

13,802

$

$

13,802

Variance Over (Under)

Actual

$

13,747

$

(55)

Manager's Office Management Personnel services Supplies Services and charges Miscellaneous Total

1,008,773 6,450 177,655 90,000 1,282,878

1,008,773 6,450 127,137 90,000 1,232,360

992,435 5,027 128,800 56,863 1,183,125

(16,338) (1,423) 1,663 (33,137) (49,235)

Legal Services Personnel services Supplies Services and charges Total

461,919 1,100 332,831 795,850

461,919 1,100 332,831 795,850

414,248 742 445,463 860,453

(47,671) (358) 112,632 64,603

Public Relations Personnel services Supplies Services and charges Total

197,965 111,035 13,623 322,623

197,965 106,035 13,623 317,623

197,789 89,648 12,647 300,084

(176) (16,387) (976) (17,539)

Finance Department Financial Management Personnel services Supplies Services and charges Total

354,949 14,370 133,440 502,759

354,949 10,170 149,321 514,440

356,281 9,966 183,233 549,480

1,332 (204) 33,912 35,040

Financial Reporting Personnel services Supplies Services and charges Miscellaneous Total

330,791 4,010 31,046 20,000 385,847

330,791 4,010 31,046 20,000 385,847

331,300 3,079 34,566 12,063 381,008

509 (931) 3,520 (7,937) (4,839)

562,791 7,645 11,839

562,791 7,645 11,839

563,382 7,257 10,643

591 (388) (1,196)

582,275

582,275

581,282

(993)

Procurement Personnel services Supplies Services and charges Capital outlay Total

(This schedule is continued on the following pages.)

- 130 -

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF EXPENDITURES- BUDGET AND ACTUAL GENERAL FUND (Continued) For the Year Ended April 30, 2009

Final Budget

Original Budget GENERAL GOVERNMENT (Continued) Finance Department (Continued) Revenue Management Personnel services Supplies Services and charges Total

$

Licensing Personnel services Supplies Services and charges Total

233,719 9,515 194,070 437,304

$

233,719 9,515 194,070 437,304

Variance Over (Under)

Actual

$

234,574 6,864 183,104 424,542

$

855 (2,651 ) (10,966) (12,762)

239,988 45,860 70,160 356,008

239,988 45,860 66,160 352,008

237,992 33,365 55,932 327,289

(1,996) (12,495) (10,228) (24,719)

673,316 31,200 1,002,435 5,000 9,540 1,721,491

673,316 26,200 882,041 106,250 , 9,540 1,697,347

664,426 22,184 708,488 105,135 9,540 1,509,773

(8,890) (4,016) (173,553) (1,115) (187,574)

Application Acquisition and Development Personnel services Supplies Services and charges Capital outlay Total

930,920 7,200 48,876 280,400 1,267,396

930,920 7,200 48,376 180,400 1,166,896

928,825 2,383 35,497 172,479 1,139,184

(2,095) (4,817) (12,879) (7,921) (27,712)

Maintenance Personnel services Supplies Services and charges Capital outlay Total

694,542 15,650 439,552 6,500 1,156,244

608,851 20,650 444,052 5,250 1,078,803

595,205 20,725 425,303 1,009 1,042,242

(13,646) 75 (18,749) (4,241) (36,561 )

Training Personnel services Supplies Services and charges Total

77,101 2,200 9,121 88,422

77,101 2,200 5,121 84,422

78,220 1,301 886 80,407

1,119 (899) (4,235) (4,015)

Information Technology Department Support Services Personnel services Supplies Services and charges Capital outlay Miscellaneous Total

(This schedule is continued on the following pages.)

- 131 -

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF EXPENDITURES- BUDGET AND ACTUAL GENERAL FUND (Continued) For the Year Ended April 30, 2009

Final Budget

Original Budget GENERAL GOVERNMENT (Continued) Human Resources Department Administration Personnel services Supplies Services and charges Total

$

297,556 2,754 49,507 349,817

$

297,556 2,754 40,382 340,692

Variance Over (Under)

Actual

$

315,680 2,577 38,785 357,042

$

18,124 (177) (1,597) 16,350

Benefits Personnel services Supplies Services and charges Total

234,131 675 1,533 236,339

234,131 825 1,533 236,489

231,776 614 1,271 233,661

(2,355) (211 ) (262) (2,828)

Organizational Development Personnel services Supplies Services and charges Total

89,045 4,240 105,103 198,388

89,045 2,330 94,124 185,499

89,580 986 94,974 185,540

535 (1,344) 850 41

Risk Management and Safety Personnel services Supplies Services and charges Total

110,643 1,165 12,539 124,347

110,643 915 11,639 123,197

110,656 529 10,125 121,310

13 (386) (1,514) (1,887)

70,705 665 3,233 74,603

70,705 665 3,233 74,603

71,287 551 3,010 74,848

582 (114) (223) 245

Recruitment and Compensation Personnel services Supplies Services and charges Total

169,859 4,122 38,275 212,256

169,859 2,772 25,814 198,445

172,060 2,455 25,300 199,815

2,201 (317) (514) 1,370

Community Development Department Support Services Personnel services Supplies Services and charges Total

605,931 6,706 154,824 767,461

554,196 6,706 134,976 695,878

545,666 5,878 130,032 681,576

(8,530) (828) (4,944) (14,302)

Employee Labor Relations Personnel services Supplies Services and charges Total

(This schedule is continued on the following pages.)

- 132-

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF EXPENDITURES- BUDGET AND ACTUAL GENERAL FUND (Continued)

(This schedule is continued on the following pages.)

- 133 -

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF EXPENDITURES- BUDGET AND ACTUAL GENERAL FUND (Continued) For the Year Ended April 30, 2009

Original Budget PUBLIC SAFETY (Continued) Police Department (Continued) Emergency Service and Security Personnel services Supplies Services and charges Total

Final Budget

Variance Over (Under)

Actual

(2,808) (13,946) (3,774) (20,528)

128,487 18,273 13,102 159,862

58,712 18,273 11,306 88,291

55,904 4,327 7,532 67,763

Traffic Services Personnel services Supplies Services and charges Capital outlay Miscellaneous Total

$ 2,429,661 9,325 100,581 17,850 13,800 2,571,217

$ 2,500,486 9,325 102,377 17,850 13,800 2,643,838

$ 2,215,280 7,969 448,128 12,343 289 2,684,009

Investigative Services Personnel services Supplies Services and charges Total

3,793,919 37,768 179,063 4,010,750

3,792,719 37,768 179,063 4,009,550

3,624,392 34,767 157,349 3,816,508

(168,327) (3,001) (21,714) (193,042)

565,879 45,680 19,108 1,700 632,367

565,879 45,680 19,108 1,700 632,367

478,100 37,743 17,106 376 533,325

(87,779) (7,937) (2,002) (1,324) (99,042)

Fire Department Support Services Personnel services Supplies Services and charges Capital outlay Total

955,879 15,070 680,350 3,750 1,655,049

955,879 15,070 538,648 3,750 1,513,347

954,996 12,498 511,734 1,196 1,480,424

(883) (2,572) (26,914) (2,554) (32,923)

Special Operations Personnel services Supplies Services and charges Capital outlay Total

22,443 3,700 10,540 3,300 39,983

22,443 2,700 10,540

13,471 1,567 8,519

(8,972) (1,133) (2,021 )

35,683

23,557

(12,126)

Crime Prevention Services Personnel services Supplies Services and charges Miscellaneous Total

(This schedule is continued on the following pages.)

- 134-

$

(285,206) (1,356) 345,751 (5,507) (13,511) 40,171

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF EXPENDITURES- BUDGET AND ACTUAL GENERAL FUND (Continued) For the Year Ended April 30, 2009

Final Budget

Original Budget PUBLIC SAFETY (Continued) Fire Department (Continued) Fire Suppression Personnel services Supplies Services and charges Capital outlay Total

11,363,545 79,951 633,006 263,230 12,339,732

Emergency Medical Services Personnel services Supplies Services and charges Capital outlay Total

$ 4,321,626 52,846 174,178 8,700 4,557,350

$

Variance Over (Under)

Actual

11,234,230 79,231 622,506 245,030 12,180,997

11,105,751 73,677 619,049 244,977 12,043,454

4,321,626 49,066 172,478 8,700 4,551,870

$ 4,164,227 45,460 159,927 8,565 4,378,179

12,320 231 8,215

(128,479) (5,554) (3,457) (53) (137,543)

$

(157,399) (3,606) (12,551) (135) (173,691 )

Emergency Management Agency Personnel services Supplies Services and charges Capital outlay Total

12,681 710 9,308 143,500 166,199

12,681 710 9,308 143,500 166,199

20,766

(361) (479) (1,093) (143,500) (145,433)

Fire Prevention Personnel services Supplies Services and charges Total

161,191 1,210 9,560 171,961

161,191 1,210 9,560 171,961

158,787 226 8,132 167,145

(2,404) (984) (1,428) (4,816)

Logistical Support Personnel services Supplies Services and charges Total

123,274 4,960 768,192 896,426

123,274 4,914 768,192 896,380

123,281 3,491 721,874 848,646

7 (1,423) (46,318) (47,734)

Public Education Personnel services Supplies Services and charges Total

114,888 14,978 2,428 132,294

74,993 15,024 628 90,645

69,717 7,172 519 77,408

(5,276) (7,852) (109) (13,237)

$ 45,715,117

$ 44,916,900

$ 44,013,966

Total public safety

(This schedule is continued on the following pages.)

- 135 -

$

(902,934)

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF EXPENDITURES- BUDGET AND ACTUAL GENERAL FUND (Continued) For the Year Ended April 30, 2009

Original Budget HIGHWAYS AND STREETS Engineering and Public Works Administration Personnel services Supplies Services and charges Total

$

1,080,355 6,250 429,714 1,516,319

$

Final Budget

Actual

1,047,199 6,250 418,274 1,471,723

1,049,396 5,504 416,172 1,471,072

Variance Over (Under)

$

2,197 (746) (2,102) (651 )

Building Maintenance Personnel services Supplies Services and charges Capital outlay Total

757,618 119,606 637,334 192,110 1,706,668

757,618 129,606 559,725 224,677 1,671,626

724,940 129,899 542,950 140,014 1,537,803

(32,678) 293 (16,775) (84,663) (133,823)

Engineering Personnel services Supplies Services and charges Total

825,047 8,978 64,673 898,698

825,047 8,978 64,673 898,698

816,338 7,557 69,064 892,959

(8,709) (1,421) 4,391 (5,739)

Landscape Division Personnel services Supplies Services and charges Capital outlay Total

922,076 310,675 1,182,338 16,700 2,431,789

922,076 310,675 1,182,338 16,700 2,431,789

894,100 254,732 1,037,408 14,095 2,200,335

(27,976) (55,943) (144,930) (2,605) (231,454)

Street Maintenance Personnel services Supplies Services and charges Total

1,742,254 575,835 868,813 3,186,902

1,742,254 1,152,985 1,018,813 3,914,052

2,149,130 1,125,247 1,530,156 4,804,533

406,876 (27,738) 511,343 890,481

After Hours Customer Service Personnel services Supplies Services and charges Total

585,002 78,825 500,647 1,164,474

585,002 82,225 550,647 1,217,874

553,489 93,864 525,952 1,173,305

(31,513) 11,639 (24,695) (44,569)

Fleet Operations Personnel services Supplies Services and charges Capital outlay Miscellaneous Total

1,207,576 1,040,790 223,835 3,800 4,365 2,480,366

1,173,009 1,105,790 223,835 3,800 4,365 2,510,799

1,167,173 1,095,929 199,494 3,528 4,363 2,470,487

(5,836) (9,861) (24,341) (272) (2) (40,312)

(This schedule is continued on the following pages.) - 136 -

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF EXPENDITURES- BUDGET AND ACTUAL GENERAL FUND (Continued) For the Year Ended April 30, 2009

Final Budget

Original Budget HIGHWAYS AND STREETS (Continued) Transportation Department Administration Personnel services Supplies Services and charges Total

$

116,796 907 39,321 157,024

$

116,796 907 31,525 149,228

Variance Over (Under)

Actual

$

115,220 689 30,227 146,136

$

(1,576) (218) (1,298) (3,092)

Bikeways Personnel services Supplies Services and charges Capital outlay Total

86,252 10,080 3,044 1,500 100,876

86,252 10,080 3,044 1,500 100,876

93,237

(3,652) (2,076) (411 ) ( 1,500) (7,639)

Traffic Personnel services Supplies Services and charges Total

228,225 815 76,192 305,232

149,529 815 76,192 226,536

145,771 523 56,745 203,039

(3,758) (292) (19,447) (23,497)

$ 13,948,348

$ 14,593,201

$ 14,992,906

$

399,705

$

$

$

(6,718) (1,799) (1,844) (3) (562,500) (572,864)

Total highways and streets HEALTH AND WELFARE Human Services Personnel services Supplies Services and charges Capital outlay Miscellaneous Total

$

Public Health and Nursing Personnel services Supplies Services and charges Total Inspection Services Personnel services Supplies Services and charges Total Total health and welfare

$

924,915 10,698 48,922 750 562,500 1,547,785

891,906 10,698 48,922 750 750,000 1,702,276

885,188 8,899 47,078 747 187,500 1,129,412

552,780 30,662 61,535 644,977

552,780 30,662 61,325 644,767

540,950 24,227 47,171 612,348

1,537,409 9,533 61,374 1,608,316

1,537,409 9,533 61,374 1,608,316

1,549,998 10,309 71,756 1,632,063

3,801,078

$

3,955,359

(This schedule is continued on the following pages.)

- 137 -

82,600 8,004 2,633

$

3,373,823

(11,830) (6,435) (14,154) (32,419)

12,589 776 10,382 23,747 $

(581,536)

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF EXPENDITURES- BUDGET AND ACTUAL GENERAL FUND (Continued) For the Year Ended April 30, 2009

Final Budget

Original Budget CULTURE AND RECREATION Department of Cultural Services Administration Personnel services Supplies Services and charges Capital outlay Total

$

Special Events Personnel services Supplies Services and charges Miscellaneous Total

TOTAL EXPENDITURES

$

664,517 21,530 159,826 3,800 849,673

267,196 16,525 367,227

665,458

392,977 46,945 385,367

$

699,642 21,180 172,145 3,692 896,659

$

35,125 (350) 12,319 (108) 46,986

650,948

(8,153) (6,047) (4,491) 3,841 (14,850)

397,729 33,789 369,920 660 802,098

4,752 (13,206) (28,907)

825,289

392,977 46,995 398,827 660 839,459

$ 2,427,934

$ 2,340,080

$ 2,334,855

$

$ 80,148,615

$ 79,676,494

$ 78,287,237

$ (1,389,257)

- 138-

269,196 17,575 378,687

Actual

259,043 10,478 362,736 3,841 636,098

Prairie Center Programming Personnel services Supplies Services and charges Capital outlay Total Total culture and recreation

664,517 20,530 246,540 5,600 937,187

Variance Over (Under)

(37,361 ) (5,225)

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL OLDE SCHAUMBURG CENTRE SPECIAL ALLOCAnON FUND For the Year Ended April 30, 2009

REVENUES Property taxes Investment income Debt service proceeds Miscellaneous income Total revenues EXPENDITURES General government Postage Professional services Consulting services Annual audit Debt service Principal Interest expense Capital outlay Building improvements Other improvements Purchase of land Enhancement improvements Roadway improvements Sidewalk improvements Total expenditures NET CHANGE IN FUND BALANCE

Variance Over (Under)

Original Budget

Final Budget

Actual

$ 2,413,900 28,000 5,000,000 200

$ 2,175,000 28,000

$ 2,606,427 33,668

200

675

475

7,442,100

2,203,200

2,640,770

437,570

1,200 10,000 235,000 1,300

1,200 20,000 159,800 1,300

1,909 88,296 195,241 1,300

709 68,296 35,441

157,000 477,000 5,331,000 569,000 1,663,000 60,00,0

77,000 2,780,959 569,000 352,800

30,790 1,911,872 285,040 322,887

(46,210) (869,087) (283,960) (29,913)

10,128,321

3,962,059

2,837,335

(1,124,724)

$

431,427 5,668

1,464,737 159,084

$ (2,686,221) $ (1,758,859)

(196,565) $ 1,562,294 3,843,079

FUND BALANCE, MAY 1

$ 3,646,514

FUND BALANCE, APRIL 30

- 139 -

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL CAPITAL IMPROVEMENTS FUND For the Year Ended April 30, 2009

Final Budget

Original Budget REVENUES Taxes Telecommunications tax Food and beverage tax Intergovernmental Use tax Grants Investment income Miscellaneous revenue

$

Total revenues EXPENDITURES Capital Projects Capital projects Other capital outlay Bikeway improvements Building improvements Enhancement improvements Roadway improvements Sidewalk improvements Stormwater improvements Street lighting improvements Traffic signal improvements . Total expenditures (DEFICIENCY) OF REVENUES OVER EXPENDITURES

$

401,605 315,545

Actual

$

397,386 299,650

$

(4,219) (15,895)

1,020,000 1,106,873 11,975 200,000

1,020,000 426,000 11,975 200,000

1,069,028 171,874 42,440 203,134

49,028 (254,126) 30,465 3,134

3,012,039

2,375,125

2,183,512

(191,613)

18,245 143,276 40,115 813,999 1,535,622 326,160 558,666 16,600

18,245 (535,579) 40,115 (469,378) (855,517) (53,340) (100,000) (130,334) (8,400)

3,452,683

(2,094,188)

678,855

678,855

1,283,377 3,196,792 379,500 100,000 689,000 25,000

1,283,377 2,391,139 379,500 100,000 689,000 25,000

6,352,524

5,546,871

$ (3,340,485) $ (3,171,746) $ (1,269,171) $ 1,902,575

OTHER FINANCING SOURCES Transfers in NET CHANGE IN FUND BALANCE

357,646 315,545

Variance Over (Under)

2,580,724 $

FUND BALANCE, MAY I

1,814,090

(759,761) $ (1,357,656)

1,853,370

39,280

584,199

$ 1,941,855

2,589,445

FUND BALANCE, APRIL 30

$ 3,173,644

- 140 -

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL 2008 PROJECT FUND For the Year Ended April 30, 2009

Final Budget

Original Budget REVENUES Investment income Bond proceeds Total revenues

$

Actual

- $ 8,568,000 8,568,000

EXPENDITURES Capital outlay Building improvements Other improvements Enhancement improvements Roadway improvements Debt service Bond issuance costs Total expenditures NET CHANGE IN FUND BALANCE

- $

$

12,638 8,568,000 8,580,638

12,638 12,638

18,980

(894,020) (1,140,356) (631,410) (852,788)

70,000

69,556

(444)

3,607,554

88,536

(3,519,018)

- $ 4,960,446

8,492,102

$ 8,492,102

- 141 -

$

913,000 1,140,356 631,410 852,788

FUND BALANCE, MAY 1 FUND BALANCE, APRIL 30

Variance Over (Under)

$ 3,531,656

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF OPERATING REVENUES - BUDGET AND ACTUAL

WATERWORKS AND SEWERAGE FUND For the Year Ended April 30, 2009

Actual

Variance Over (Under)

18,988,620 189,976

$17,766,049 161,689

$ (1,222,571) (28,287)

19,178,596

17,927,738

(1,250,858)

30,000 35,000 25,000

1,145 9,160 92,470

(28,855) (25,840) 67,470

90,000

102,775

12,775

25,000 3,000 12,000

13,637 2,246 12,974

(11,363) (754) 974

40,000

28,857

(11,143)

19,308,596

$ 18,059,370

$ (1,249,226)

Original and Final Budget CHARGES FOR SERVICES Metered services Penalties

$

Total charges for services TAP-ON FEES Residential Sewer Water Other Total tap-on fees MISCELLANEOUS Other Water meters Hydrant rentals Turn-on and turn-off fees Total miscellaneous Total operating revenues

$

- 142 -

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL WATERWORKS AND SEWERAGE FUND For the Year Ended April 30, 2009

Final Budget

Original Budget FINANCE Revenue Management Personnel services Supplies Services and charges Capital outlay Miscellaneous Total finance department ENGINEERING AND PUBLIC WORKS Administration Personnel services Supplies Services and charges Capital outlay Total

$

$

$

344,907 100,000 186,098 350 18,000 649,355

368,553 12,400 466,630 350 847,933

$

$

$

344,907 100,000 186,098 350 18,000 649,355

368,553 12,400 466,630 350 847,933

Variance Over (Under)

Actual

$

$

$

351,592 87,640 159,104 5,275 603,611

428,075 11,335 456,376 159 895,945

$

$

$

6,685 (12,360) (26,994) (350) (12,725) (45,744)

59,522 (1,065) (10,254) (191) 48,012

Storm Sewer Personnel services Supplies Services and charges Capital outlay Total

967,310 55,550 141,835 1,500 1,166,195

967,310 55,550 151,985 1,500 1,176,345

1,009,134 59,691 145,323 360 1,214,508

41,824 4,141 (6,662) (1,140) 38,163

Water Distribution Personnel services Supplies Services and charges Capital outlay Total

1,188,763 172,175 10,618,330 22,400 12,001,668

1,188,763 172,175 10,618,180 22,400 12,001,518

1,302,814 171,125 8,805,977 21,770 10,301,686

114,051 (1,050) (1,812,203) (630) ( 1,699,832)

Sanitary Sewer Personnel services Supplies Services and charges Capital outlay Total

711,121 55,600 193,369 32,200 992,290

711,121 55,600 193,369 32,200 992,290

732,481 55,071 209,982 30,907 1,028,441

21,360 (529) 16,613 ( 1,293) 36,151

After Hours Customer Services Personnel services Supplies Services and charges Total

301,642 4,700 15,646 321,988

301,642 4,700 15,646 321,988

303,729 6,302 15,973 326,004

1,310,000 1,310,000

1,393,000 1,393,000

698,521 698,521

(694,479) (694,479)

$ 16,640,074

$ 16,733,074

$ 14,465,105

$ (2,267,969)

457,392

457,392

457,392

$ 17,746,821

$ 17,839,821

$ 15,526,108

Utility Projects Capital outlay Total Total Engineering Public Works Administrative charge by the General Fund Total operating expenses

- 143 -

2,087 1,602 327 4,016

$ (2,313,713)

---~------------------------

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF OPERATING REVENUES AND EXPENSES - BUDGET AND ACTUAL SCHAUMBURG REGIONAL AIRPORT FUND For the Year Ended April 30, 2009

Original Budget

Final Budget

Variance Over (Under)

Actual

OPERATING REVENUES Charges for services Tenant gas/utility income Rental income Rental income - restaurant Fuel sales Total operating revenues

38,500 407,800 69,085 1,028,000

$

38,500 407,800 69,085 1,028,000

$

$ 1,543,385

$

1,543,385

$ 1,190,916

$ (352,469)

$

$

8,705 60,924 69,629

$

$

$

23,792 369,488 72,516 725,120

$

(14,708) (38,312) 3,431 (302,880)

OPERATING EXPENSES ENGINEERING AND PUBLIC WORKS Building Maintenance Supplies Services and charges Total Building Maintenance

8,705 60,924 69,629

8,550 56,034 64,584

(155) (4,890) (5,045)

Landscape Services Supplies Services and charges Total Landscape Services

1,000 36,595 37,595

1,000 36,595 37,595

1,160 41,396 42,556

160 4,801 4,961

Street Maintenance Supplies Services and charges Total Street Maintenance

500 15,231 15,731

500 15,231 15,731

94 20,135 20,229

(406) 4,904 4,498

After Hours Customers Service Supplies

1,800

1,800

3,683

1,883

Total Engineering and Public Works AIRPORT OPERATIONS Personnelservces Supplies Services and charges Capital projects Miscellaneous Total Airport Operations Total operating expenses

$

124,755

$

124,755

$

131,052

$

$

175,121 993,350 237,860 1,718,300 26,540 3,151,171

$

175,121 993,350 305,082 412,400 26,540 1,912,493

$

171,288 699,757 284,613 61,693 30,946 1,248,297

$

$ 3,275,926

$

2,037,248

$ 1,379,349

- 144-

6,297

(3,833) (293,593) (20,469) (350,707) 4,406 (664,196)

$ (657,899)

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF OPERATING REVENUES AND EXPENSES - BUDGET AND ACTUAL

SCHAUMBURG BASEBALL STADIUM FUND For the Year Ended April 30, 2009 Variance Over (Under)

Original Budget

Final Budget

Actual

$ 160,000

$ 160,000

$ 137,830

80,000 151,417 231,417

80,000 151,417 231,417

80,000 61,623 141,623

(89,794) (89,794)

$ 391,417

$ 391,417

$ 279,453

$ (111,964)

$ 19,115

$ 19,115

$

$

6,613

6,613

$ 25,728

$ 25,728

$

$ 21,420 1,061 200,761

$ 21,420 1,061 222,961

$

$ 223,242 $ 248,970

OPERATING REVENUES Charges for services Rental income Miscellaneous Naming rights Reimbursement - Schaumburg Park District Total miscellaneous Total operating revenues

$

(22,170)

OPERATING EXPENSES ENGINEERING AND PUBLIC WORKS Building Maintenance Services and charges Landscape Services Services and charges Total Engineering and Public Works BASEBALL OPERAnONS Baseball Operations Personnel services Supplies Services and charges Capital Outlay Total Baseball Operations Total operating expenses

- 145 -

13,060 2,388

(6,055) (4,225)

15,448

$

(10,280)

$

$ 245,442

20,926 216 288,301 4,764 $ 314,207

$

(494) (845) 65,340 4,764 68,765

$ 271,170

$ 329,655

$

58,485

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF OPERATING REVENUES - BUDGET AND ACTUAL SCHAUMBURG HOTEL AND CONVENTION CENTER FUND For the Fiscal Year Ended January 2,2009

OPERATING REVENUES Charges for services Hotel room Telephone Restaurant Lounge Audio visual Banquet Convention center Inducement fee Exhibit Space Rental Total charges for services Total operating revenues

Variance Over (Under)

Original Budget

Final Budget

Actual

$18,006,191 622,821 3,262,524 1,330,096 2,898,076 13,726,675 753,788 200,005 3,200,000 44,000,176

$17,773,208 576,376 3,406,399 1,349,092 3,215,408 14,123,838 880,146 200,005 3,197,610 44,722,082

$ 16,744,768 469,449 3,051,227 1,385,913 2,923,970 13,055,069 964,055 200,005 3,950,765 42,745,221

$ (1,028,440) (106,927) (355,172) 36,821 (291,438) (1,068,769) 83,909

$ 44,000, 176

$ 44,722,082

$42,745,221

$ (1,976,861)

753,155 (1,976,861)

NOTE: All Hotel and Convention Center Fund activity reported elsewhere throughout this document is referenced as of April 30, 2009, but figures are all as of the fiscal year ended January 2,2009.

- 146 -

VILLAGE OF SCHAUMBURG, ILLINOIS SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL SCHAUMBURG HOTEL AND CONVENTION CENTER FUND For the Fiscal Year Ended January 2,2009

Variance Over (Under)

Original Budget

Final Budget

Actual

$ 5,266,172 522,892 1,932,484 572,402 6,753,210 1,342,286 3,735,633 251,215 2,990,211 120,000 3,346,896 1,071,346 117,000 25,966 150,000 90,765 286,963 1,042,607 300,000 150,463 9,924 2,162,994 2,396,919 34,638,348

$ 5,275,179 472,310 2,001,244 633,658 6,975,793 1,488,733 3,870,619 252,663 3,014,931 134,992 3,413,805 1,071,346 117,000

$ 4,925,989 402,209 1,983,252 561,038 6,441,569 1,337,254 3,696,343 288,212 2,975,913 137,905 2,978,601 1,071,346 127,762

150,000 89,942 286,963 1,043,614 311,772 150,462 156,000 2,210,072 2,525,749 35,646,847

137,065 63,436 291,875 1,043,614 367,357 138,475 75,411 2,069,927 2,642,589 33,757,142

55,585 (11,987) (80,589) (140,145) 116,840 (1,889,705)

532,600

532,600

371,630

(160,970)

$ 35,170,948

$36,179,447

$ 34,128,772

$ (2,050,675)

OPERATING EXPENSES Service and charges Hotel rooms Telephone department Restaurant Lounge Kitchen Audio visual Banquet Other expenses Administrative costs Central training and relocation Sales and marketing Primary management fees Equipment leasing Permits and licenses Owners expense Leisure and recreation Secondary management fees Senior executive compensation Exhibit space rental Property insurance Liability claims Utilities - gas and electric Repair and maintenance of building Total service and charges Capital outlay Minor capital outlay Total operating expenses

$

(349,190) (70,101) (17,992) (72,620) (534,224) (151,479) (174,276) 35,549 (39,018) 2,913 (435,204) 10,762 (12,935) (26,506) 4,912

NOTE: All Hotel and Convention Center Fund activity reported elsewhere throughout this document is referenced as of April 30, 2009, but figures are all as of the fiscal year ended January 2,2009

- 147 -

STATISTICAL SECTION This part of the Village of Schaumburg's 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 Village's overall financial health.

Contents

Page(s)

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

149-154

Revenue Capacity These schedules contain information to help the reader assess the Village's most significant local revenue source. In addition, continuing disclosure requirements are satisfied through additional tax revenue schedules.

155-162

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

163-166

Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the Village's financial activities take place.

167-168

Operating Information These schedules contain service and infrastructure data to help the reader understand how the information in the Village's financial report relates to the services the Village provides and the activities it performs.

169-171

Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial reports for the relevant year. The Village implemented GASB Statement 34 in 2004; schedules presenting government-wide information include information beginning in that year.

VILLAGE OF SCHAUMBURG, ILLINOIS NET ASSETS BY COMPONENT Last Six Fiscal Years

2004

2005

2006

2007

2008

2009

Governmental activities Invested in capital assets, net of related debt Restricted Unrestricted Total governmental activities net assets

$ 81,784,982 31,423,069 25,742,133 $ 138,950,184

$ 83,306,917 35,698,468 26,902,397 $ 145,907,782

$ 65,544,459 32,621,398 46,810,020 $ 144,975,877

$ 76,418,770 22,800,140 50,714,796 $ 149,933,706

$ 79,031,183 19,408,905 51,312,660 $149,752,748

$ 85,295,859 13,517,090 42,834,229 $141,647,178

Business-type activities Invested in capital assets, net of related debt Unrestricted Total business-type activities net assets

$ 99,198,093 13,797,471 $ 112,995,564

$ 103,239,901 14,157,486 $ 117,397,387

$ 51,582,257 70,696,157 $ 122,278,414

$ 98,956,035 24,351,655 $ 123,307,690

$ 90,028,309 28,203,135 $118,231,444

$ 78,592,933 33,711,461 $ 112,304,394

Primary government Invested in capital assets, net of related debt Restricted Unrestricted Total primary government net assets

$ 180,983,075 31,423,069 39,539,604 $ 251,945,748

$ 186,546,818 35,698,468 41,059,883 $ 263,305,169

$ 117,126,716 32,621,398 117,506,177 $ 267,254,291

$ 175,374,805 22,800,140 75,066,451 $ 273,241,396

$169,059,492 19,408,905 79,515,795 $267,984,192

$163,888,792 13,517,090 76,545,690 $253,951,572

Source: Current and prior year audited financial statements. Note: The Village implemented GASB S-34 in FY04 and will report prospectively until a full ten-year trend has been compiled.

- 149-

VILLAGE OF SCHAUMBURG, ILLINOIS CHANGES IN NET ASSETS Last Six Fiscal Years

Expenses Governmental activities: General government Public safety Highways and streets Health and welfare Culture and recreation Interest on debt Total governmental activities expenses

2004

2005

2006

2007

2008

2009

$ 26,872,836 34,275,443 20,686,516 2,050,562 2,000,146 2,030,323 87,915,826

$ 14,179,490 38,932,867 21,792,758 3,987,466 1,991,007 2,794,580 83,678,168

$ 17,420,405 44,375,564 23,325,462 2,900,718 2,257,930 4,167,391 94,447,471

$ 18,308,382 40,547,295 19,926,225 2,955,514 2,142,642 3,345,291 87,225,349

$ 15,581,905 45,023,040 25,119,205 3,385,050 2,648,956 3,077,258 94,835,414

$ 19,339,324 44,426,914 22,692,790 3,660,172 2,391,524 3,019,105 95,529,829

15,952,042 2,196,998 580,190 535,019 19,264,249

17,251,134 2,443,774 665,057 117,849 563,039 21,040,853

19,653,826 2,395,540 449,994 120,849 570,893 23,191,102

17,907,654 2,478,466 817,383 22,950,123 654,380 44,808,006

18,617,716 2,620,899 761,949 53,170,027 714,013 75,884,604

18,554,539 2,226,567 818,777 55,424,831 782,365 77,807,079

$ 107,180,075

$ 104,719,021

$ 117,638,573

$ 132,033,355

$ 170,720,018

$ 173,336,908

$

$

$

$

$

$

Business-type activities: Waterworks and sewerage Schaumburg regional airport Schaumburg baseball stadium Schaumburg hotel and convention center Commuter parking lot Total business-type activities expenses Total primary government expenses

Program Revenues Governmental activities: Charges for services: General government Public safety Highways and streets Health and welfare Prairie Center and community events Operating grants and contributions Capital grants and contributions Total governmental activities program revenues Business-type activities: Charges for services: Waterworks and sewerage Schaumburg regional airport Schaumburg baseball stadium Schaumburg convention center Commuter parking lot Operating grants and contributions Capital grants and contributions Total business-type activities program revenues

5,467,398 3,425,853 946 23,741 764,099 2,843,378

6,183,846 3,426,311 265,843 25,616 890,545 2,974,631

6,943,783 3,245,176 369,864 112,238 904,983 2,756,701

5,968,022 3,877,436 645,435 28,465 960,309 2,340,945 615,400 14,436,012

6,612,236 2,230,578 123,419 108,477 486,922 594,155 58,146 10,213,933

5,096,922 2,305,463 96,236 42,094 454,479 445,560 171,874 8,612,628

12,525,415

13,766,792

14,332,745

14,166,072 891,623 392,991

15,064,682 1,037,639 309,258

17,182,216 1,266,117 417,413

200,364 5,802

201,859

15,656,852

Total primary government program revenues

$ 28,182,267

Net (Expense)/Revenue Governmental activities Business-type activities Total primary government net expense

$ (75,390,411) $ (69,911,376) $ (80,114,726) $ (72,789,337) $ (84,621,481) $ (86,917,201) (16,519,171) (14,284,748) (3,607,397) (3,480,387) (4,050,854) (12,253,955) $ (78,997,808) $ (73,391,763) $ (84,165,580) $ (85,043,292) $(101,140,652) $(101,201,949)

219,454

16,158,301 1,317,603 390,681 14,446,682 240,784

17,484,009 1,421,481 358,159 39,857,091 244,693

18,059,370 1,190,916 279,453 42,745,221 247,229

947,028 17,560,466

55,048 19,140,248

32,554,051

59,365,433

1,000,142 63,522,331

$ 31,327,258

$ 33,472,993

$ 46,990,063

$ 69,579,366

$ 72,134,959

- 150-

VILLAGE OF SCHAUMBURG, ILLINOIS CHANGES IN NET ASSETS(Continued)

Last Six Fiscal Years

2004 General Revenues and Other Changes in Net Assets Governmental activities: Taxes Property Telecommunications Home rule sales Hotel/motel Real estate transfer tax Food and beverage Other Intergovernmental Personal property replacement tax Road/bridge tax Sales tax Use tax State income tax Motor fuel tax Other Investment income Miscellaneous Contributions Special item Transfers out Total governmental activities

$

2006

2005

$

6,810,551 1,796,529

7,267,024 337,970

2,270,817 4,562,747 21,784,583 4,024,293 894,383 7,287,229 273,279

16,348 323,790 29,854,335 737,855 4,556,025

18,163 313,274 30,100,678 780,359 5,103,606

26,266 370,304 30,188,190 945,496 5,760,405

28,300 384,592 30,822,410 971,231 6,353,792

258,589 628,957 103,782

16,025 938,753 1,494,106 216,142 (566,924) 76,868,974

16,887 2,230,994 1,878,252 300,661 (2,939,730) (692,235) 79,182,822

763,466

2,281,742

2,281,374

353,738

1,226,039 564,166

1,341,431 1,062,508

1,868,064 4,750,394 12,772,381 3,380,653

(3,637,303) 64,220,950

$

1,684,755 4,563,816 20,923,111 3,678,116

Business-type activities Taxes Teleconununications Home rule sales Hotel/motel Amusement Food and beverage Other Intergovernmental Sales tax State income tax Other Investment income Miscellaneous Contributions Special item Transfers in Total business-type activities Total primary government

133,172 23,687 9,342,232

2,404,165 31,665

3,637,303 14,253,598 $ 78,474,548

566,924 7,882,210 $ 84,751,184

Change in Net Assets Governmental activities Business-type activities Total primary government

$ (11,169,461) $ 6,957,598 10,646,201 4,401,823 $ (523,260) $ 11,359,421

$

2008

2007

2,416,191 3,894,567 21,172,365 4,473,211 1,026,719 7,858,702 235,820

$

2,172,926 4,332,018 20,874,728 4,475,387 741,542 7,666,642 257,750

2009

$

2,606,427 4,125,680 18,905,780 3,655,551 7,655,839 241,358

560,176 2,890,520 1,122,923

28,790 362,231 29,975,183 1,069,845 6,918,731 2,156,345 739,513 2,373,197 2,664,928

22,433 430,469 26,556,100 1,069,028 6,770,138 2,022,538 613,912 1,044,488 3,726,865

(6,464,353) 77,747,166

(2,369,233) 84,440,523

(634,975) 78,811,631

1,322,815 69,832 1,533,975 730,441 126,570

2,089,962 177,029 2,766,767 1,050,837 363,525

2,113,308 183,448 2,684,273 1,157,559 384,377

69,832

177,029

1,974,242 632,913 358,258

53,888 1,891,003 68,323 435,329

183,448 148,756 230,513 566,651 70,390

(1,164,358) 692,235 6,464,353 8,931,880 13,283,231 $ 88,114,703 $ 91,030,397

2,369,233 11,442,925 $ 95,883,448

807,509

5,109,946 (391,255)

$ $

(931,904) $ 4,881,027 3,949,123 $

Source:Current and prior year audited financial statements. Note: The Village implemented GASB Statement 34 in FY04 and will report prospectively until a full ten-year trend has been compiled. - 151 -

4,957,829 1,029,276 5,987,105

634,975 8,357,698 $ 87,169,329

(180,958) $ (8,105,570) (5,076,246) (5,927,050) $ (5,257,204) $ (14,032,620)

$

VILLAGE OF SCHAUMBURG, ILLINOIS FUND BALANCES, GOVERNMENTAL FUNDS Last Ten Fiscal Years

General Fund Reserved Unreserved Total general fund All Other Governmental Funds Reserved Unreserved, reported in: Special revenue funds Capital projects funds Debt service funds Total all other governmental funds

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

$12,335,502 27,902,740 $40,238,242

$12,878,334 28,255,887 $41,134,221

$ 8,969,337 25,206,425 $34,175,762

$ 8,525,793 18,703,685 $27,229,478

$ 6,541,379 22,300,273 $28,841,652

$ 5,500,167 30,142,816 $35,642,983

$ 4,894,829 37,161,063 $42,055,892

$ 1,490,297 38,252,777 $39,743,074

$ 1,247,899 34,274,232 $35,522,131

$ 1,315,622 27,895,490 $29,211,112

$ 1,324,014

$ 1,416,966

$

$

$26,908,261 (2) $31,230,279

$27,726,569

$15,366,999

$12,095,264

$13,894,399

3,895,840 3,255,086 (314,427) 8,800,536 8,766,409 5,809,579 $13,671,836 $19,282,167

900,000

667,150

2,761,712 3,419,760 40,755,825 (I) 24,691,438 4,705,987 5,813,557 $ 50,889, 142 $32,826,287

1,051,564 6,079,615

3,336,997 3,468,1l8

3,618,876 897,876

2,520,973 1,138,227

3,960,178 7,547,457

$ 4,949,985 8,460,502

$34,039,440

$38,035,394

$32,243,321

$19,026,199

$23,602,899

$27,304,886

Source: Current and prior year audited financial statements. Note: The Village implemented GASH Statement 34 at April 30, 2004. Prior to FY04, the Special Revenue Funds have been restated to include the Medical Facility Fund. Note (I): The Village issued $33,875,000 of bonds to finance the improvements to fire stations, the emergency communications center, utility burials and the renovation of the Public Works Center. Note (2): The Village issued $17,050,000 of bonds to finance improvements within the Village. In addition, $4,505,000 of bonds were issued to acquire land for future Village development.

- 152 -

VILLAGE OF SCHAUMBURG, ILLINOIS CHANGES IN FUND BALANCES, GOVERNMENTAL FUNDS Last Ten Fiscal Years

2001

2000

2002

2003

2004

2006

2005

2007

2008

2009

Revenues

Taxes Licenses and permits Intergovernmental Charges for services Fines and forfeits Grants Contributions Investment income Miscellaneous Total revenues

$

5,219,925 2,964,421 56,290,688 6,227,669 682,219 436,622 2,724 2,025,381 1,219,535 75,069,184

$

4,657,079 3,936,459 64,663,768 2,888,430 1,001,141 2,547,399 37,530 2,635,682 1,503,955 83,871,443

$

10,121,268 3,079,541 56,220,442 3,119,988 1,122,333 392,269 79,773 2,002,243 1,278,863 77,416,720

$

$

27,316,960 3,211,227 37,045,442 3,803,222 1,072,011 179,196 872,354 1,719,096 2,071,478 77,290,986

31,360,045 3,808,275 35,984,291 4,283,538 1,213,421 200,092 15,560 258,589 1,075,548 78,199,359

$

38,454,792 4,231,280 38,879,966 4,962,154 1,125,249 138,323 28,040 938,753 2,224,689 90,983,246

$

41,097,332 4,816,897 39,700,281 5,103,908 1,112,865 254,589

$

2,230,994 2,611,221 96,928,087

41,077,575 3,914,322 41,276,562 5,727,136 1,291,870 727,135 21,900 2,890,520 1,647,361 98,574,381

$

40,520,992 4,663,154 41,250,638 4,898,482 1,143,183 652,301 7,900 2,373,197 1,513,845 97,023,692

$

37,190,635 3,370,977 37,484,618 4,Q24,218 2,373,379 617,434 7,900 1,044,487 1,345,586 88,059,234

Expenditures

General government Public safety Highways and streets Health and welfare Culture and recreation Contingency Debt service Principal Interest Bond issuance costs Arbitrage rebate Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures

13,903,514 30,145,468 7,230,875 1,953,057 1,625,243

14,829,420 31,569,181 7,934,254 2,050,999 1,718,425

18,190,083 35,821,394 8,504,483 2,314,848 1,894,396

23,615,138 35,706,495 8,990,589 2,264,593 1,962,826

28,827,286 35,402,967 8,390,414 2,165,662 1,889,519

13,920,506 37,969,283 10,731,199 4,064,418 1,919,416 63,759

18,685,347 39,502,210 10,811,588 2,967,325 2,304,387

15,878,988 41,905,992 13,159,776 3,121,697 2,316,818

16,062,304 45,016,275 14,665,505 3,135,360 2,631,094

16,082,253 44,035,335 14,992,906 3,373,823 2,334,855

7,549,853 1,091,061

3,116,241 1,478,513

2,935,000 1,102,792

2,370,000 2,140,435

2,550,000 2,064,576

5,295,000 2,517,032

17,475,000 4,369,957

5,608,708 3,405,972

5,715,267 2,893,926 88,655

24,695,049 88,194,120

10,846,763 73,543,796

15,055,379 85,818,375

21,950,686 99,000,762

11,599,858 92,890,282

14,207,919 90,688,532

23,033,951 119,149,765

15,698,451 101,096,402

5,638,779 3,133,334 4,273 1,664 10,553,680 100,842,268

(13,124,936)

10,327,647

(8,401,655)

(21,709,776)

(14,690,923)

- 153 -

294,714

(22,221,678)

(2,522,021 )

(3,818,576)

10,084,271 99,601,291

(11,542,057)

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2,458,972 $ (8,923,325)

3,986,642 $ (6,355,875)

6,677,772 (6,312,747)

Other Financing Sources (Uses) Transfers in Transfers out Proceeds on sale of capital assets Bonds issued Premium (Discount) on bonds issued Proceeds from debt restructured as long-term Payment to escrow agent Total other financing sources (uses)

$

11,993,350 $ 11,353,329 $ (10,697,590) (14,920,760) 16,376,860

Residual Equity Transfer

34,705,055

17,672,620

(3,567,431)

(633,928)

(253,906)

Prior Period Adjustments Net change in fund balances Debt service as a percentage of noncapital expenditures

$

3,913,756

13.6%

17,618,335 $ (20,551,985)

$

6,506,310

73%

$

11,824,213 $ 6,850,126 $ (15,421,317) (10,199,253) 34,739 6,781,847 17,050,000 195,340

2,237,015 $ 2,890,544 $ (3,582,779) (2,803,939) 4,505,000 33,406

23,558,093 (23,344)

22,842,514

31,771,405

(6,322,167) (3,137,424)

13,930,952

3,971,482

1,278,766

(161,939)

3,585,298

6,535,714

(25,009,139) $

2,825,327

24,648,516

5.7%

$

5.9%

57%

$

10,801,910

$

10.2%

Source: Current and prior year audited financial statements. Note: The Village implemented GASB S-34 at April 30, 2004. Prior to FY04, the Governmental Funds have been restated to include the Medical Facility Fund.

- 154-

620,836

22.7%

8,500,000 68,000

$

(6,464,353)

(2,369,233)

(8,986,374) $

(6,187,809) $

10.6%

9.7%

8,933,025

(2,609,032)

9.6%

VILLAGE OF SCHAUMBURG, ILLINOIS SALES TAX BY CATEGORY Last Ten State Fiscal Years

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

$ 4,293,729

$ 4,155,896

$ 4,546,272

$ 4,312,700

$ 4,383,469

$ 4,239,898

$ 3,746,339

$ 3,996,163

$ 3,742,905

$ 3,419,942

Food

1,501,020

1,506,752

1,469,029

1,452,752

1,402,340

1,475,285

1,388,397

1,428,233

1,457,478

1,377,237

Drinking and eating places

2,059,362

2,474,163

2,514,255

2,595,409

2,826,690

3,010,978

3,120,234

3,457,879

3,547,727

3,363,317

Apparel

3,062,114

3,160,028

2,917,023

2,815,444

2,882,589

3,088,509

3,293,531

3,523,031

3,501,815

3,224,484

Furniture, H.H. and radio

2,845,782

2,528,408

2,405,412

2,910,705

3,637,720

3,966,708

3,729,404

3,351,235

3,245,845

2,833,067

Lumber, building and hardware

658,979

644,189

826,379

779,934

814,703

796,853

735,146

817,151

803,809

662,675

Automotive and filling stations

7,788,714

8,165,123

8,875,546

8,425,155

8,445,615

8,346,847

8,226,576

8,998,594

8,524,427

7,194,950

Drugs and other retail

4,405,419

4,981,673

5,037,427

4,520,636

3,783,558

3,711,240

3,691,025

3,749,894

3,580,480

3,178,587

Agriculture and all others

2,753,803

2,282,585

2,236,836

1,041,889

887,315

775,197

1,018,575

1,103,279

1,051,642

1,273,281

(547,512)

477,712

544,838

736,327

671,519

754,766

$ 29,889,229

$ 29,494,065

$ 31,161,785

$ 30,127,649

$ 27,282,307

General merchandise

Manufacturers (1) Total (2) Village direct sales tax rate

606,556

$ 29,975,478 1.00%

(353,832)

$ 29,544,986

(823,454)

$ 30,004,726

1.00%

1.00%

(858,595)

$ 27,996,029

$ 28,516,486

1.00%

1.00%

1.00%

1.00%

1.00%

1.00%

Source: lllinois Department of Revenue - Local Tax Allocation Division Note (1): The credits in the Manufacturers category represent reductions in the sales tax allotment by the state for a vendor that was misallocated to the Village of Schaumburg. The state reduced the Village's monthly allotment over a 48-month period, beginning in fiscal year 2001 and ending in fiscal year 2004. Note (2): Gross receipts include both Cook and DuPage County 1% municipal sales tax. Amounts reflect sales tax collected between July 1 and June 30 as reported by the State.

- 155 -

1.00%

VILLAGE OF SCHAUMBURG, ILLINOIS DIRECT AND OVERLAPPING SALES TAX RATES Last Ten Fiscal Years

(1) Village Home Rule Sales Tax

(3) Cook County Home Rule Sales Tax

(2) Regional Transportation Authority(RTA) Tax Rate

Total Direct Rate

Fiscal Year

Village Direct Rate

State Rate

Cook County Rate

1999

1.00%

5.00%

0.25%

0.50%

0.75%

0.75%

8.25%

2000

1.00%

5.00%

0.25%

0.50%

0.75%

0.75%

8.25%

2001

1.00%

5.00%

0.25%

0.50%

0.75%

0.75%

8.25%

2002

1.00%

5.00%

0.25%

0.50%

0.75%

0.75%

8.25%

2003

1.00%

5.00%

0.25%

0.50%

0.75%

0.75%

8.25%

2004

1.00%

5.00%

0.25%

1.00%

0.75%

0.75%

8.75%

2005

1.00%

5.00%

0.25%

1.00%

0.75%

0.75%

8.75%

2006

1.00%

5.00%

0.25%

1.00%

0.75%

0.75%

8.75%

2007

1.00%

5.00%

0.25%

1.00%

0.75%

0.75%

8.75%

2008

1.00%

5.00%

0.25%

1.00%

0.75%

1.00%

9.00%

2009

1.00%

5.00%

0.25%

1.00%

1.75%

1.00%

10.00%

Source:

Village and County Records

Note:

The above tax rates are for General Merchandise.

Note (1):

The Home Rule Sales Tax rate increased from 0.50% to 1.00% effective January 1, 2004.

Note (2):

RTA Tax rate increased from 0.75% to 1.00% effective April 1,2008.

Note (3):

Cook County Home Rule Sales Tax increased from 0.75% to 1.75% effective July 1,2008.

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VILLAGE OF SCHAUMBURG, ILLINOIS SALES TAX RECEIPTS CASH BASIS Last Ten Fiscal Years

Fiscal Year Ended April 30,

Village Share/ State Sales Tax Receipts

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

$ 29,823,948 29,987,793 29,756,859 28,341,629 28,047,300 30,017,456 29,612,897 30,943,276 30,228,598 28,077,130

(1) (1)

(1)

% Change

% Change

from Preceding Year

from Preceding Year

13.5 0.5 (0.8) (4.8) (1.0) 7.0 (1.3) 4.5 (2.3) (7.1)

Home-rule Sales Tax Receipts $ 10,482,829 10,331,361 10,010,922 9,594,090 10,293,325 20,834,828 21,731,194 21,348,661 21,046,503 19,837,326

(1) (1)

(2) (1,2)

11.2 (1.4) (3.1) (4.2) 7.3 102.4 4.3 (1.8) (1.4) (5.7)

% Change

from Preceding Year

Total Sales Tax Receipts $ 40,306,777 40,319,154 39,767,781 37,935,719 38,340,625 50,852,284 51,344,091 52,291,937 51,275,102 47,914,456

(1) (1)

(2) (1,2)

Source: Village Records Note (1): The Illinois Department of Revenue began deducting $102,160 per month from the Village's state sales tax receipts and $51,080 per month from the Village's home-rule sales tax receipts on May 1, 2000 as repayment of taxes remitted to the Village in error in fiscal years ending April30, 1999 and 2000. The repayments ended on April 30, 2004. Note (2): The Village's home-rule sales tax rate increased from one-half of one percent to one percent effective January 1,2004 (April 2004 tax receipts).

- 157 -

12.9 % 0.0 (1.4) (4.6) 1.1 32.6 1.0 1.8 (1.9) (6.6)

VILLAGE OF SCHAUMBURG, ILLINOIS STATE SALES TAX RECEIPTS BY MONTH CASH BASIS Last Three Fiscal Years

Percentage Change From Preceding Year FY 2009 FY 2007 FY 2008

Fiscal Year Ended 4/30107

Fiscal Year Ended 4/30108

Fiscal Year Ended 4/30109

May June July August September October November December January February March April

$

2,168,604 2,299,788 2,776,239 2,687,360 2,451,346 2,742,454 2,683,706 2,516,427 2,329,885 2,564,061 3,574,647 2,148,759

$

2,126,929 2,560,071 2,478,511 2,511,941 2,707,475 2,459,229 2,571,653 2,593,081 2,389,115 2,524,259 3,327,329 1,979,004

$

2,136,817 2,452,972 2,507,635 2,399,695 2,575,102 2,253,579 2,563,789 2,273,899 2,053,787 2,251,952 2,827,432 1,780,471

(1.2%) (3.9) 20.6 1804 (3.5) 9.8 (0.8) 6.1 14.8 3.5 10.6 (17.3)

(1.9%) 11.3 (10.7) (6.5) lOA (10.3) (4.2) 3.0 2.5 (1.6) (6.9) (7.9)

0.5%) (4.2) 1.2 (4.5) (4.9) (804) (0.3) (12.3) (14.0) (10.8) (15.0) (10.0)

Total

$

30,943,276

$

30,228,598

$

28,077,130

4.5%

(2.3%)

(7.1%)

Month

Source: Village Records

- 158-

-

---------- - -

-- --

-------------

VILLAGE OF SCHAUMBURG, ILLINOIS HOME RULE SALES TAX RECEIPTS BY MONTH CASH BASIS Last Three Fiscal Years

Month

Fiscal Year Ended 4/30/07

Fiscal Year Ended 4/30/08

Fiscal Year Ended 4/30/09

Percentage Change From Preceding Year FY 2008 FY 2009 FY 2007

May June July August September October November December January February March April

$

1,486,437 1,447,132 1,896,303 1,669,262 1,802,970 1,666,436 1,788,892 1,758,373 1,686,550 1,842,525 2,750,983 1,552,798

$

1,364,206 1,778,603 1,625,663 1,693,458 1,805,695 1,706,747 1,843,063 1,743,124 1,599,930 1,927,406 2,574,624 1,383,983

$

1,412,399 1,689,171 1,680,455 1,654,768 1,794,122 1,600,061 1,731,802 1,621,083 1,495,137 1,677,164 2,231,427 1,249,737

(2.1%) (14.5) 21.2 3.3 1.7 (1.1) (30.0) 5.5 10.3 1.9 7.3 (11.6)

(8.2%) 22.9 (14.3) 1.4 0.2 2.4 3.0 (0.9) (5.1) 4.6 (6.4) (10.9)

3.5% (5.0) 3.4 (2.3) (0.6) (6.3) (6.0) (7.0) (6.5) (13.0) (13.3) (9.7)

Total

$

21,348,661

$

21,046,503

$

19,837,326

(1.8%)

(1.4%)

(5.7%)

Source: Village Records

Note: The Village's home-rule sales tax rate increased from one-half of one percent to one percent effective January 1,2004 (April 2004 receipt).

- 159-

VILLAGE OF SCHAUMBURG, ILLINOIS RETAIL SALES VOLUME - TOP TEN ILLINOIS COMMUNITIES STATE COLLECTIONS PERIOD MAY 1, 2008 - APRIL 30, 2009

Municipality Chicago Schaumburg Naperville Kankakee Springfield Rockford Peoria Aurora Joliet Orland Park

(1) Estimated Sales

Rank 1 2 3 4 5 6 7 8 9 10

$

21,787,590,268 $ 2,728,230,674 2,557,398,659 2,454,288,990 2,413,373,620 2,268,282,286 2,140,760,013 1,884,909,402 1,845,598,136 1,726,888,356

Sales Per Capita

2000 Population

7,523 36,190 19,924 89,276 21,654 15,110 18,956 13,182 17,375 33,810

2,896,016 75,386 128,358 27,491 111,454 150,115 112,936 142,990 106,221 51,077

Source: Illinois Department of Revenue - Local Tax Allocation Division and the U.S. Census Bureau.

Note (1): Distributions to municipalities of the 1% municipal tax were used to calculate the estimated retail sales. Actual sales tax amounts were received by the municipalities July 1,2008 through June 30, 2009.

- 160 -

VILLAGE OF SCHAUMBURG, ILLINOIS HOTEL TAX REVENUES HOTEL TAX HISTORY Last Twenty Quarters

Quarter Ending

Fiscal Year Ended April 30

June 30, 2004 September 30,2004 December 31, 2004 March 3 1, 2005 June 30, 2005 September 30,2005 December 31,2005 March 31, 2006 June 30, 2006 September 30,2006 December 31, 2006 March 31, 2007 June 30, 2007 September 30, 2007 December 31, 2007 March 31, 2008 June 30, 2008 September 30, 2008 December 31, 2008 March 31, 2009

2005 2005 2005 2005 2006 2006 2006 2006 2007 2007 2007 2007 2008 2008 2008 2008 2009 2009 2009 2009

Tax Revenue $

1,247,885 1,304,645 1,227,826 1,060,793 1,389,225 1,444,184 1,338,395 1,071,863 1,239,963 1,518,795 1,725,729 1,364,949 1,650,230 1,755,053 1,400,339 1,081,063 1,522,541 1,494,879 1,150,675 877,353

Source: Village Records

Note: Rate increased from 6% to 8% effective January 1,2004. Note: The Percent Change is based on the change from the same quarter of the previous year.

- 161 -

Percent Change 42.87 % 37.38 47.16 7.96 11.33 10.70 9.01 1.04 (10.74) 5.17 28.94 27.34 33.09 15.56 (18.86) (20.80) (7.74) (14.82) (17.83) (18.84)

VILLAGE OF SCHAUMBURG, ILLINOIS OTHER VILLAGE REVENUES CASH BASIS Last Five Fiscal Years and Projection

Fiscal Year Ended April 30

Amount

% Change from Prior Fiscal Year

Real Estate Transfer Tax 2005 2006 2007 2008 2009 2010 (Projected)

$

807,509 894,383 1,026,719 742,542 230,513 350,000

8.31 10.76 14.80 (27.68) (68.96) 51.84

Food and Beverage Tax 2005 2006 2007 2008 2009 2010 (Projected)

$

7,193,113 7,498,888 7,985,272 7,818,416 7,581,810 7,618,700

6.22 4.25 6.49 (2.09) (3.03) 0.49

Telecommunications Tax 2005 2006 2007 2008 2009 2010 (Projected)

$

6,781,866 6,844,121 5,217,382 6,267,765 6,432,580 6,308,377

Source: Village Records

Note: Telecommunications use tax rate increased from 4% to 6% effective January 1, 2004.

- 162 -

29.78 0.92 (23.77) 20.13 2.63 (1.93)

VILLAGE OF SCHAUMBURG, ILLINOIS ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY Last Ten Levy Years

Tax Levy Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

Real Property Equalized Estimated Assessed Actual Valuation Value $2,580,090,025 2,623,562,061 3,070,461,510 3,293,593,775 3,236,342,872 3,656,932,072 3,914,377,995 3,909,822,148 4,497,185,092

$7,740,270,075 7,870,686,183 9,211,384,530 9,880,781,325 9,709,028,616 10,970,796,216 11,743,133,985 11,729,466,444 13,491,555,276

Ratio of Total Equalized Assessed Value to Estimated Actual Value

Equalization Factor

0.3333 0.3333 0.3333 0.3333 0.3333 0.3333 0.3333 0.3333 0.3333

2.2505 2.2235 2.3098 2.4689 2.4598 2.5757 2.7320 2.7076 2.8439

(1)

Source: County Clerks offices, Revenue Division

Note (1): Equalized Assessed Valuation for 2008 not available at time of report

- 163 -

VILLAGE OF SCHAUMBURG, ILLINOIS RA

nos OF OUTSTANDING DEBT BY TYPE Last Ten Fiscal Years

Business-Type Activities General

Governmental Activities General Obligation Bonds/Notes

Fiscal Year 2000

(4) $

2001 2002

(7)

2003 2004

(5)

2005 (8,9)

29,725,000

Capital Leases $

565,835

Judgments Payable $

Capital Leases

Obligation Bonds/Notes - (3) $

33,000,000

$

$

Total

(I) Percentage

(2)

Primary Government

of Total Retail Sales

Per Capita

63,290,835

2.11

%

855

26,745,000

429,594

6,394,443

34,475,154

121,559

68,165,750

2.31

904

57,685,000

293,830

4,555,555

31,957,679

47,426

94,539,490

3.15

1,254

55,695,000

150,763

2,661,607

29,257,212

10,016

87,774,598

3.14

1,164

70,195,000

512,037

26,433,222

97,140,259

3.41

1,289

69,405,000

292,593 (6)

248,699,782

318,397,375

10.65

4,224

73,149 (9)

247,181,641

322,785,018

10.94

4,282

75,488,093

42,135

2007

69,879,384

47,145

244,470,774

314,397,303

10.09

4,170

2008

64,240,605

30,376

241,709,395

305,980,376

10.15

4,059

67,025,338

18,319

240,519,662

307,563,319

11.27

4,080

2006

2009

(10)

Source: Village Records Note (I): Retail Sales tax amounts provided by the lllinois Department of Revenue based on sales taxes received by the Village between July I and June 30. Note (2): See the Schedule of Demographic and Economic Statistics on page 167 for population data. Note (3): The Village issued $15,000,000 of bonds in FY99 for the acquisition ofland for the development and construction of the Schaumburg Baseball Stadium. Note (4): The Village issued $16,600,000 of bonds in FYOO for the acquisition ofland for future use and for certain street improvements. Note (5): The Village issued $17,050,000 of bonds in FY04 for the construction of a new fire station, remodeling of three existing fire stations and the expansion of the Public Works building. Note (6): The Village issued $239,320,000 of bonds in FY05, of which $228,690,000 was used for the construction of the Hotel and Convention Center, $6,125,000 was used to replace all residential water meters and $4,505,000 to fund property acquisition. Note (7): The Village issued $33,875,000 of bonds in FY02 for various capital improvements. Note (8): The Village issued $21,180,000 of bonds in FY06 to fund road and bridge improvements and to refinance the Series 2000 bonds balloon payment. Note (9): The Village issued $3,320,000 of taxable bonds in FY06 to fund the employer cost of an employee early retirement incentive plan. Note (10): The Village issued $9,000,000 of bonds in FY09 for various public works improvements, community development projects, airport improvements and to pay the costs of issuance of the Bonds.

- 164 -

VILLAGE OF SCHAUMBURG, ILLINOIS RA no OF GENERAL BONDED DEBT OUTSTANDING Last Ten Fiscal Years

Less: Amounts General

Available

Percentage of

Fiscal

Obligation

In Debt

Taxable

Per

Year

Bonds\Notes (1)

Service Fund

Retail Sales

Capita

2000

$

29,725,000

$

Total

8,766,409

$

20,958,591

0.69

278.02

2001

26,745,000

5,809,579

20,935,421

0.72

277.71

2002

57,685,000

5,813,557

51,871,443

1.73

688.08

2003

55,695,000

4,705,987

50,989,013

1.71

676.37

2004

70,195,000

4,196,253

65,998,747

2.31

875.48

2005

69,405,000

4,559,950

64,845,050

2.18

860.17

2006

75,488,093

5,321,682

70,166,411

2.38

930.76

2007

69,879,384

3,992,326

65,887,058

2.11

874.00

2008

64,240,605

3,838,868

60,401,737

2.00

801.23

2009

67,025,338

3,100,193

63,925,145

2.34

847.97

Note (1): Represents outstanding debt for governmental activities only, and excludes bonds and notes outstanding in business-type funds. Note:

Details of the Village's outstanding debt can be found in the notes to the financial statements.

Note:

Taxable Retail Sales provided by the Illinois Department of Revenue based on sales taxes collected between July 1 and June 30.

- 165 -

VILLAGE OF SCHAUMBURG, ILLINOIS DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT As of April 30, 2009

Debt Outstanding

Governmental Unit OTHER: Cook County Cook County Forest Preserve Metropolitan Water Reclamation District DuPage County DuPage County Forest Preserve DuPage Water Commision

Estimated Share of Overlapping Debt

Estimated Percentage Applicable*

$ 2,897,975,000 115,105,000 1,379,237,302 176,865,000 243,048,400 24,310,000

2.82 % 2.82 2.88 0.01 0.01 0.06

81,722,895 3,245,961 39,722,034 17,687 24,305 14,586

LIBRARY DISTRICTS: Palatine Public Library Schaumburg Township Public Library Poplar Creek Public Library District

3,270,000 6,075,000 22,300,000

6.79 73.75 5.85

222,033 4,480,313 1,304,550

PARK DISTRICTS: Hoffman Estates Park District Palatine Park District Roselle Park District Schaumburg Park District

42,355,000 20,495,000 5,142,000 36,155,000

4.61 7.04 0.63 92.14

1,952,566 1,442,848 32,395 33,313,217

3,535,000 64,100,000 316,460,991 8,380,000 55,715,000 41,820,000 170,920,000 58,478,541 195,405,000

1.18 4.58 1.60 71.81 0.14 46.29

41,713 2,935,780 5,063,376 6,017,678 78,001 19,358,478 11,964 602,329 36,052,223

SCHOOL DISTRICTS: Roselle SD #12 Palatine CCSD #15 Elgin USD #46 Schaumburg CCSD #54 Lake Park (Roselle) CHSD #108 Palatine HSD #211 College ofDuPage #502 Elgin Community College #509 Harper Community College #512 Total Indirect Debt VILLAGE OF SCHAUMBURG Total Direct and Overlapping Debt

om 1.03 18.45

5,887,147,234

237,656,930

67,025,338

67,025,338

$ 5,954,172,572

*Determined by ratio of assessed value of property subject to taxation in overlapping unit to value of property subject to taxation in the Village of Schaumburg. *2007 Equalized Assessed Valuations were used in the calculations of this statement Sources: Offices of the Cook and DuPage County Clerks and the Treasurer of Metropolitan Water Reclamation District of Greater Chicago

- 166-

$

304,682,268

VILLAGE OF SCHAUMBURG, ILLINOIS DEMOGRAPHIC AND ECONOMIC STATISTICS Last Ten Calendar Years

Year

Population

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

74,058 75,386 75,386 75,386 75,386 75,386 75,386 75,386 75,936 75,936

Personal Income

Per-Capita Personal Income

$ 1,897,514,076 1,931,540,092 2,305,831,582 2,305,831,582 2,305,831,582 2,305,831,582 2,305,831,582 2,305,831,582 2,305,831,582 2,322,654,432

$ 25,622 25,622 30,587 30,587 30,587 30,587 30,587 30,587 30,587 30,587

Median Age

Education Level in Years of Schooling

31.8 35.3 35.3 35.3 35.3 35.3 35.3 35.3 35.3 35.3

14 14 14 14 14 14 14 14 14 14

(1)

School Enrollment

(2) Unemployment Rate

75,228 77,394 81,657 82,681 82,681 82,056 82,056 81,185 80,257 80,363

Source: Village records - Community Development Department

Note (1): Children from Schaumburg attend District 54, District 211, District U-46, and District 15. Note (2): Unemployment Rates are based on the Village's fiscal year.

- 167 -

2.1 % 2.3 5.7 4.9 4.8 4.4 3.9 3.5 4.1 8.3

VILLAGE OF SCHAUMBURG, ILLINOIS PRINCIPAL EMPLOYERS Current Year and Nine Years Ago

2000

2009

Employer Motorola, Inc. Woodfield Shopping Center School District #54 Zurich American Insurance Group Experian Cingular IBM Nation Pizza Products G.E. Financial Assurance Village of Schaumburg Cellular One Illinois Department of Transportation Total

Employees 7,000 3,800 2,274 1,900 1,400 1,200 1,150 1,000 800 557

Rank

Percentage of Total Village Employment $

1 2 3 4 5 6 7 8 9 10

$

21,081

Source: Village records - Community Development Department

- 168 -

8.73 % 4.74 2.84 2.37 1.75 1.50 1.43 1.25 1.00 0.69

23.71 %

Employees

Rank

7,000 3,800 2,000 1,600 1,400

I 2 3 4 5

1,150

7

800 610 1,200 600 20,160

8 9 6 10

Percentage of Total Village Employment $

8.67 % 4.71 2.48 1.98 1.73 1.42

$

0.99 0.76 1.49 0.74 27.86 %

VILLAGE OF SCHAUMBURG, ILLINOIS FULL-TIME EMPLOYEES Last Ten Fiscal Years

Function/Program General Government Managers Office Finance Information Technology Human Resources Planning Community Development Public Safety Police Fire Highways and Streets Engineering Engineering and Public Works Transportation Health and Welfare Building and Code Enforcement Health Culture and Recreation Cultural Services Total

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

II

25 16 7 18 0

II 25 16 8 12 0

13 24 17 8 12 0

13 24 18 8 12 0

13 24 18 8 12 0

13 22 19 8 II 0

12 22 20 9 0 46

13 23 20 8 0 47

13 23 21 8 0 47

13 22 21 8 0 47

205 149

204 149

211 151

211 150

217 149

201 147

205 136

205 136

181 136

181 136

18 103 0

18 99 6

18 101 6

18 104 7

18 101 7

16 99 6

0 99 6

0 101 6

100 6

100 6

25 23

25 24

25 24

26 24

25 24

31 16

0 14

0 14

0 13

0 13

10

10

10

10

10

10

10

10

10

10

610

607

620

625

626

599

579

583

558

557

Note: The Village underwent some organizational changes in FY06, including the creation of the Community Development Department. This department includes what was formerly known as the Planning Department and Building and Code Enforcement Department. Note: In addition, the Engineering Department was f<>lled into the Public Works Department and renamed as the Engineering and Public Works Department. Note: The Village experienced its period of largest employment in FY04. As can be seen in FY06, there was a decrease of 47 positions, or 7.5%. Management is of the opinion that the service levels provided to Schaumburg residents and businesses have not been reduced despite the reduction in staffing. Further, it is important to note that the Village was able to accomplish the reduction through retirements and attrition, and not through layoffs. Note: The Village Board authorized during FY07 for the Village to join Northwest Central Dispatch Center, which resulted in a decrease of 23 positions in the Police Department for FY08. - 169-

VILLAGE OF SCHAUMBURG, ILLINOIS OPERATING INDICATORS Last Ten Fiscal Years

Function/Program

2000

2002

2001

General Government Commuter lot parking permits N/A N/A Construction activity (value) $ 3,520,000 $ 995,000 Residential 69,387,322 198,737,795 Commercial/Industrial 14,563,530 Miscellaneous 21,095,915 $ 87,470,852 $ 220,828,710 Total Public Safety Police 57,710 Incidents 56,516 Parking violations N/A N/A 6,528 Village crashes 6,824 False alarms 5,485 5,307 N/A 9-1-1 call center volume N/A Fire 4,485 3,732 Rescue incidents Average response time (minutes) N/A N/A 4,255 4,681 EMS activity Highways and Streets 6.70 Street resurfacing (miles) 4.10 N/A Potholes repaired N/A Water Water main breaks 97 42 NfA 121,353 Number of water bills issued Services: NfA NfA Residential NfA NfA Commerical and manufacturing NfA NfA Total Gallons billed Residential (in thousands) N/A NfA NfA NfA Commercial (in thousands) NfA Total (in thousands) NfA

2003

6,844

2004

2006

2005

2007

7,615

7,488

2009

8,182

8,761

6,913

6,998

6,582,450 83,151,209 15,575,915 $ 105,309,574

20,352,482 68,195,278 25,490,567 $ 114,038,327

5,105,000 55,061,071 29,636,768 $ 89,802,839

21,414,238 249,912,670 27,165,111 $ 298,492,019

59,335 N/A 6,220 5,051 N/A

60,242 25,131 6,102 4,302 N/A

58,327 22,686 5,884 3,549 148,598

50,952 25,257 5,339 3,264 140,623

48,352 21,796 5,142 3,011 134,021

46,705 21,340 5,043 3,292 131,278

2,002 N/A 5,032

2,840 N/A 5,019

2,838 6.25 4,884

2,862 6.55 4,836

3,130 6.42 4,699

2,993 5.99 4,865

2,986 5.23 5,873

2,795 5.08 5,712

4.52 N/A

5.76

NfA

5.51 1,240

4.85 2,211

2.66 4,738

2.67 3,996

5.34 9,773

2.21 11,575

66 124,552

81 124,837

74 125,240

62 125,838

105 126,509

49 126,483

39 308,232

46 310,396

NfA NfA NfA

NfA NfA NfA

23,419 2,598 26,017

23,395 2,622 26,017

23,530 2,638 26,168

23,551 2,685 26,236

23,259 2,639 25,898

23,238 2,643 25,881

1,539,132 1,968,235 3,507,367

1,574,292 1,791,010 3,365,302

1,422,500 1,676,705 3,099,205

1,406,141 1,658,316 3,064,457

1,582,488 1,709,756 3,292,244

1,416,203 1,685,540 3,101,743

1,443,790 1,677,149 3,120,939

1,296,855 1,610,462 2,907,317

$

$

$

7,293

2008

$

Source: Various Village Departments Note: Some historical information is no longer available, but the Village will report prospectively until a full ten-year trend has been compiled. Fiscal 2008 - 911 calls go to Northwest Central Dispatch

- 170-

20,528,735 153,708,244 25,126,409 $ 199,363,388

$

$

20,153,527 95,804,411 16,981,086 $ 132,939,024

6,915,293 126,077,707 29,331,878 $ 162,324,878

$

47,055 21,096 5,233 2,968 N/A

$

$

1,918,990 61,148,067 15,172,105 78,239,162

35,658 21,828 4,955 2,953 N/A

VILLAGE OF SCHAUMBURG, ILLINOIS CAPITAL ASSET STATISTICS BY FUNCTIONIPROGRAM Last Ten Fiscal Years

Function/Prograrn Public safety Police Stations Vehicles Fire Stations Highways and streets Miles of streets Culture and recreation Performing arts theatre Water and sewer Water mains (miles) Fire hydrants Sanitary sewers (miles) Airports Baseball Stadium Hotel and convention center Hotels Convention centers Commuter parking lots

2000

2001

2004

2003

2002

2007

2006

2005

2008

2009

1 74

1 74

1 78

1 78

1 78

1 71

1

1

72

77

77

1 80

4

4

4

4

4

4

4

4

5

5

217

217

217

217

217

217

217

217

217

224

260 4,400 240 1 1

260 4,400 240 1 1

260 4,400 240 1 1

260 4,400 240 1 1

260 4,400 240 1 1

260 4,400 240 1 1

265 4,400 240 1 1

275 4,600 250 1 1

275 4,600 250 1 1

275 4,600 250 1 1

0 0 1

0 0 1

0 0 1

0 0 1

0 0 1

0 0 1

0 0 1

- 171-

1