VILLAGE OF ROSEMONT, ILLINOIS

VILLAGE OF ROSEMONT, ILLINOIS

ANNUAL FINANCIAL REPORT

FOR THE FISCAL YEAR ENDED DECEMBER 31, 2017

VILLAGE OF ROSEMONT, ILLINOIS ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2017

Prepared by: Finance Department

VILLAGE OF ROSEMONT, ILLINOIS

TABLE OF CONTENTS

PAGE

INTRODUCTORY SECTION

List of Elected Officials ............................................................................................................................... i

FINANCIAL SECTION

INDEPENDENT AUDITORS' REPORT ......................................................................................... 1 - 2

MANAGEMENT'S DISCUSSION AND ANALYSIS ......................................................MD&A 1 - 15

BASIC FINANCIAL STATEMENTS

Government-Wide Financial Statements Statement of Net Position .......................................................................................................... 3 - 4 Statement of Activities............................................................................................................... 5 - 6

Fund Financial Statements Balance Sheet ? Governmental Funds ....................................................................................... 7 - 8 Reconciliation of Total Governmental Fund Balance to Net Position of Governmental Activities ...................................................................................9 Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds ........................................................................................................ 10 - 11 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities ...................................12 Statement of Net Position ? Proprietary Funds...................................................................... 13 - 14 Statement of Revenues, Expenses and Changes in Net Position ? Proprietary Funds .......... 15 - 16 Statement of Cash Flows ? Proprietary Funds....................................................................... 17 - 18 Statement of Fiduciary Net Position ..............................................................................................19 Statement of Changes in Fiduciary Net Position ...........................................................................20

Notes to the Financial Statements................................................................................................ 21 - 65

REQUIRED SUPPLEMENTARY INFORMATION

Schedule of Changes in the Employer's Total OPEB Liability Other Post-Employment Benefit Plan............................................................................................66

Schedule of Employer Contributions Illinois Municipal Retirement Fund...............................................................................................67 Public Safety Officers' Pension Fund............................................................................................68

Schedule of Changes in the Employer's Net Pension Liability Illinois Municipal Retirement Fund...............................................................................................69 Public Safety Officers' Pension Fund.................................................................................... 70 - 71

VILLAGE OF ROSEMONT, ILLINOIS

TABLE OF CONTENTS

PAGE

FINANCIAL SECTION ? Continued

REQUIRED SUPPLEMENTARY INFORMATION ? Continued

Schedule of Investment Returns Public Safety Officers' Pension Fund............................................................................................72

Schedule of Revenues, Expenditures and Changes in Fund Balances ? Budget and Actual General Fund..................................................................................................................................73

COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES

Schedule of Revenues ? Budget and Actual ? General Fund ...................................................... 74 - 75 Schedule of Expenditures ? Budget and Actual ? General Fund................................................. 76 - 80 Combining Balance Sheet ? Nonmajor Governmental Funds .............................................................81 Combining Statement of Revenues, Expenditures and Changes in Fund Balances

Nonmajor Governmental Funds.....................................................................................................82 Combining Balance Sheet ? Nonmajor Governmental ? Special Revenue Funds ...................... 83 - 84 Combining Statement of Revenues, Expenditures and Changes in Fund Balances

Nonmajor Governmental ? Special Revenue Funds .............................................................. 85 - 86 Combining Balance Sheet ? Nonmajor Governmental ? Debt Service Funds ............................ 87 - 88 Combining Statement of Revenues, Expenditures and Changes in Fund Balances

Nonmajor Governmental ? Debt Service Funds .................................................................... 89 - 90 Combining Balance Sheet ? Nonmajor Governmental ? Capital Projects Funds ....................... 91 - 92 Combining Statement of Revenues, Expenditures and Changes in Fund Balances

Nonmajor Governmental ? Capital Projects Funds ............................................................... 93 - 94 Combining Statement of Net Position ? Nonmajor Enterprise Funds .................................................95 Combining Statement of Revenues, Expenses and Changes in Net Position

Nonmajor Enterprise Funds ...........................................................................................................96 Combining Statement of Cash Flows ? Nonmajor Enterprise Funds ..................................................97

SUPPLEMENTAL SCHEDULES

Long-Term Debt Requirements General Obligation Bonds of 2007B..............................................................................................98 General Obligation Refunding Bonds of 2010A ...........................................................................99 General Obligation Refunding Bonds of 2010B..........................................................................100 General Obligation Refunding Bonds of 2010C..........................................................................101 General Obligation Bonds of 2011B............................................................................................102 General Obligation Refunding Bonds of 2011C..........................................................................103 General Obligation Bonds of 2011D ...........................................................................................104 General Obligation Bonds of 2012A ...........................................................................................105 General Obligation Bonds of 2012B............................................................................................106

VILLAGE OF ROSEMONT, ILLINOIS

TABLE OF CONTENTS

PAGE

FINANCIAL SECTION ? Continued

SUPPLEMENTAL SCHEDULES ? Continued

Long-Term Debt Requirements ? Continued General Obligation Refunding Bonds of 2013B..........................................................................107 General Obligation Taxable Refunding Bonds of 2014A............................................................108 General Obligation Taxable Bonds of 2015A .............................................................................109 General Obligation Corporate Purpose Bonds of 2016A ............................................................110 General Obligation Corporate Purpose Bonds of 2016B.............................................................111 General Obligation Corporate Purpose Refunding Bonds of 2017 .............................................112

STATISTICAL SECTION (Unaudited)

Net Position by Component ? Last Ten Fiscal Years .................................................................... 113 - 114 Changes in Net Position ? Last Ten Fiscal Years.......................................................................... 115 - 116 Fund Balances of Governmental Funds ? Last Ten Fiscal Years .................................................. 117 - 118 Changes in Fund Balances of Governmental Funds ? Last Ten Fiscal Years ............................... 119 - 120 Assessed Value and Actual Value of Taxable Property ? Last Ten Fiscal Years ......................... 121 - 122 TIF Frozen Values, Current Values and Incremental Values ? Last Ten Fiscal Years ................. 123 - 124 Direct and Overlapping Property Tax Rates, Leyden Township ? Last Ten Fiscal Years ............ 125 - 126 Direct and Overlapping Property Tax Rates, Maine Township ? Last Ten Fiscal Years.............. 127 - 128 Principal Property Taxpayers ? Current Tax Levy Year and Nine Tax Levy Years Ago .......................129 Property Tax Levies and Collections ? Last Ten Tax Levy Years ................................................ 130 - 131 Ratios of Outstanding Debt by Type ? Last Ten Fiscal Years ...................................................... 132 - 133 Ratios of General Bonded Debt Outstanding ? Last Ten Fiscal Years....................................................134 Schedule of Direct and Overlapping Governmental Activities Debt.......................................................135 Legal Debt Margin Information...............................................................................................................136 Pledged-Revenue Coverage ? Last Nine Fiscal Years ............................................................................137 Demographic and Economic Statistics ? Last Ten Fiscal Years ............................................................138 Principal Employers ? Current Fiscal Year and Nine Fiscal Years Ago .................................................139 Full-Time Equivalent Village Government Employees by Function ? Last Ten Fiscal Years ..... 140 - 141 Operating Indicators by Function/Program ? Last Ten Fiscal Years ............................................ 142 - 143 Capital Asset Statistics by Function/Program ? Last Ten Fiscal Years......................................... 144 - 145

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