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Home My WebLink AboutHandouts_Regular_Tab 02_12/9/2021 Financial Overview December 9, 2021 Fiscal Year 2021- Financial Overview Village funds as of and for the year ending September 30, 2021. The amounts herein are unaudited and represent the results of operations for the various for the preceding fiscal year. close of each fiscal year, a complete report of the operation and business of the Village Charter, which requires submission to the Village Council, within ninety (90) days after the 3.03(10) of the Village Article III, Section This financial overview is presented pursuant to Objectives:FY2021– Listing of Village Funds by Type from user fees and charges.receive a significant portion of support Enterprise funds account for activities that grants and similar revenue sources.for activities primarily supported by taxes, Governmental funds are used to account FundRefuse and Recycling •Stormwater Utility Fund•Water Utility Fund•Enterprise FundsEnforcement FundSpecial Law •Capital Projects Fund•FundCapital Improvement •Building Fund•General Fund•Governmental Funds General Fund governmental servicesenforcement), public works, parks & recreation, other general Typical services include, public safety (fire, police, code except those accounted for in another fundAccounts for all financial resources and operations of the Village, intergovernmental revenue and charges for services Funded mainly from property taxes, franchise taxes, utility taxes, The Village’s primary operating fund General Fund Revenues 4.29%$624,551$15,171,014$14,546,463Total23.28% 4,306 22,806 18,500 Fines & forfeitures(51.19%) (421,477)401,884 823,361Miscellaneous other(0.96%) (2,200)226,600 228,800 Rents and royalties0.01% 47 1,031,297 1,031,250Intragovernmental revenue (Admin Fees)45.70% 653,008 2,081,958 1,428,950Charges for svcs4.36%47,0771,126,029 1,078,952110.00%550 1,050 500Licenses & permits0.38% 1,755 463,755 462,000 Franchise fees10.24% 182,7411,966,8911,784,150Other taxes (CST, Utility Taxes, Ins. Prem)2.06% $158,744$7,848,744$7,690,000Property taxesChangePercentage Variance (Actual) FY2021(Budget) FY2021Revenue Description(Budget vs. Actual) General Fund 4.15%$603,782$13,942,681$14,546,463Total(12.39%)(75,956)689,050613,094Interfund Transfers11.56%64,046489,760553,806Debt Service8.10%56,298638,702695,0005.29%78,4671,403,9331,482,400Publi c Works(0.29%)(13,000)4,475,3474,462,347Fire Control7.71%7,03984,21191,250 Code Compliance3.77%131,8843,364,6823,496,566Police Department29.97%212,763497,187709,950IT17.25%52,393251,407303,800General Government3.89% 6,374157,626164,000 Comprehensive Planning 2.79%5,605195,445 201,050 Legal0.90% 6,217685,483691,700Finance9.26%32,895322,455355,350Village Clerk6.93%25,430341,470366,900Human Resources0.54% 1,597292,053293,650Manager17.88%$11,730$53,870$65,600 CouncilVariancePercentage Variance(Actual) FY2021(Budget) FY2021DescriptionExpenditure Summary by Department Budget - General Fund Revenues 13.99%$1,861,869$15,171,014$13,309,145Total94.79% 11,09822,806 11,708Fines & forfeitures100.15% 201,097401,884 200,787Miscellaneous other3.50% 7,669226,600 218,931 Rents and royalties42.16% 305,8611,031,297 725,436Intragovernmental revenue (Admin Fees)50.05% 694,4912,081,958 1,387,467Charges for svcs1.67%18,4851,126,029 1,107,54454.41%3701,050 680Licenses & permits3.59% 16,073463,755 447,682Franchise fees14.90%255,0741,966,8911,711,817Other taxes (CST, Utility Taxes, Ins. Prem)4.69% $351,651$7,848,744$7,497,093Property taxesChangePercenta ge Change(Actual) FY2021(Actual) FY2020Revenue Description(Comparative from Prior Fiscal Year) General Fund Expenditures by Department 12.13%$1,508,706$13,942,681$12,433,975Total%100.0029-0-(29)Other Nonoperating296.95%515,465689,050173,585 Interfund Transfers7.38%33,642 489,760456,118 Debt Service5.59%33,810 638,702604,892 Leisure Services6.81%89,518 1,403,9331,314,415 Public Works11.32%454,918 4,475,3474,020,429 Fire Control2.35%1,932 84,21182,279 Code Compliance(4.64%)(163,878) 3,364,6823,528,560 Police Department138.32%288,565 497,187208,622 IT(9.81%)(27,350)251,407278,757 General Government(2.77%)(4,497)157,626162,123 Comprehensive Planning31.31%46,603 195,445 148,842 Legal61.22%260,307 685,483425,176 Finance(6.74%)(23,302)322,455345,757 Village Clerk(1.56%)(5,422)341,470346,892 Human Resources2.22%6,332 292,053285,721 Manager3.92%2,034 53,87051,836 CouncilChangePercentage Change(Actual) FY2021(Actual) FY2020DescriptionExpenditure (Comparative from Prior Fiscal Year) General Fund $ 4,622,802 Reserve Ending Balance, 9/30/211,228,333 Change in Fund Balance(13,942,681)Expenditures/Other Financing Uses15,171,014 Revenues/Other Financing Sources$ 3,394,469 Beginning Balance, 10/01/20$4,622,802Total Fund Balance: $3,020,713-Unassigned $500,000-Disaster Reserve $717,556-Debt Service Reserve $384,533-spendable -NonComponents of Fund Balance:Fund Balance Calculation- General Fund $4,622,802$3,394,469$3,670,429$3,882,111$4,345,896$4,310,262Total Fund Bal.$3,020,713$1,884,304$1,479,005$1,150,229$1,478,525$2,079,187Unassigned Fund Bal.FY2021FY2020FY2019FY2018FY2017F Y2016 $5,000,000 $4,500,000 $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $-Total Fund Bal.Unassigned Fund Bal.Fund Balance History- General Fund $3,020,713$3,020,713 GF Expenditures(Unaudited): 23% of Balance Current Fund $2,211,607$2,211,607 ExpendituresTarget: 17% of GF Fund Balance Unassigned Fund Balance– Building Fund $876,824-Building Fund reserves at 9/30/21 Increase in Building Fund reserves: $220,891Total Building Fund expenditures: $684,846Total Building Fund revenues: $905,737$871,235 -FY21 $385,193 -FY20 Building permit fees collected: Codecarrying out responsibilities in enforcing the The revenue obtained shall be used solely for and private buildings, structures and facilities Accounts for permit fees required on all public  Other Governmental Funds forfeiture seizuresFunding Source: Asset Enforcement TrustSpecial Law Funding Source: Bonds & Notes Capital Projects receipts surtax funds; water utility tax Funding Source: Infrastructure Capital Improvement Capital Improvement$ 373,835 Reserve Ending Balance, 9/30/21 (Unaudited)55,179 Change in Fund Balance(633,871)Expenditures/Other Financing Uses689,050 Revenues/Other Financing Sources$ 318,656 Reserve Beginning Balance, 10/01/20 Fund 301)–(Surtax Fund Capital Projects Funds $4,395,982-Constitution Park $236,329 -Repairs and maintenance to roads $4,632,311-FY2020/2021 Expenditures  Reserve Beginning Balance, 10/01/20$ 84,976 Special Law Enforcement Trust Fund Revenues/Other Financing Sources 91,647 Expenditures/Other Financing Uses (19,582) Change in Fund Balance 72,065 Reserve Ending Balance, 9/30/21 (Unaudited)$ 157,041 Enterprise Funds maintenance of the Village’s Accounts for the operation and Stormwater Utility Fund garbage and recyclable materials. user fees for collection of residential Accounts for the expenses and related Fund surrounding communities.of potable water to Village residents and which includes processing and distribution Accounts for activities of the water utility, type Activities) -(Business Total Revenue/Expenses $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $-$5,769,082$5,964,202$5,079,244$4,871,601$5,038,740$4,726,849Expenses$6,645,063$6,467,035$6,335,4 78$5,998,715$5,544,098$4,865,282RevenuesFY2021 (Unaudited)FY2020FY2019FY2018FY2017FY2016 Water Utility Fund– Water Utility Fund(3.27%)($195,123)$5,769,082$5,964,205Total(3.83%) )(29,474739,761 769,235 OTHER NONOPERATING-950 Dept N/A21,891 21,891 -0-INTERFUND TRANSFERS-900 Dept (10.50%) (15,409)131,391 146,800 DEBT SERVICE-700 Dept (30.63%)(293,416)664,580957,996 RENEWAL & REPLACEMENT-411 Dept 975.04%217,443 239,744 22,301 -244 Dept (12.90%) (118,486)799,869 918,355 DISTRIBUTION-WATER-243 Dept 7.37%125,103 1,822,4061,697,303 PRODUCTION-WATER -242 Dept (7.08%) (102,775)1,349,440 $1,452,215 ADMINISTRATION-WATER-241 Dept ChangePercentage Change(Actual) FY2021(Actual) FY2020Description Total Revenue/Expenses $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000$511,300$496,619$480,268$479,478$479,278$489,874Expenses$487,006$488,558$488,807$490,595$493,937$490,956 RevenuesFY2021 (Unaudited)FY2020FY2019FY2018FY2017FY2016 Refuse & Recycling Fund– Refuse & Recycling Fund$ 94,283 Unrestricted Net Position, 9/30/21 (Unaudited)(24,294)Change in Unrestricted Net Position(511,300)Expenses487,006 Revenues$ 118,577 Unrestricted Net Position, 10/01/20 Total Revenue/Expenses $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000$639,007$453,776$485,566$687,878$338,758$490,405Expenses$451,154$440,535$453,568$388,222$342,001$326,072RevenuesF Y2021 (Unaudited)FY2020FY2019FY2018FY2017FY2016 Stormwater Utility Fund– Stormwater Utility Fund $700,000 $650,000 $600,000 $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $- $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $-$639,007$453,776$485,566$687,878$338,758$490,405Total Expenses$250,905$101,448$136,412$390,779$34,209$176,659Drainage Maint. ExpenseFY2021 (Unaudited)FY2020FY20 19FY2018FY2017FY2016 Expense Analysis– Stormwater Utility Fund$ 792,351 Unrestricted Net Position, 9/30/21 (Unaudited)(187,853)Change in Unrestricted Net Position(639,007)Expenses451,154 Revenues$ 980,204 Unrestricted Net Position, 10/01/20 Questions