City of Wheaton, Illinoisgfoa.net/cafr/COA2012/WheatonIL.pdf · This letter of transmittal is...

City of Wheaton, Illinois

Comprehensive Annual Financial Report for the Year Ended April 30, 2012

COMPREHENSIVE ANNUAL FINANCIAL REPORT

OFTHE CITY OF WHEATON, IL

As of and for the Year Ended April 30, 2012

Prepared by the Finance Department

THIS PAGE IS INTENTIONALLY LEFT BLANK

CITY OF WHEATON

TABLE OF CONTENTS As of and For the Year Ended April 30, 2012

INTRODUCTORY SECTION

Principal Officials

Organizational Chart

Certificate of Achievement for Excellence in Financial Reporting

Letter of Transmittal

FINANCIAL SECTION

INDEPENDENT AUDITORS' REPORT

REQUIRED SUPPLEMENTARY INFORMATION

Management's Discussion and Analysis

BASIC FINANCIAL STATEMENTS

Government-Wide Financial Statements

Statement of Net Assets

Statement of Activities

Fund Financial Statements

Balance Sheet - Governmental Funds

Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Assets

Statement of Revenues, Expenditures and Changes in Fund Balances -Governmental Funds

Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities

Statement of Net Assets - Proprietary Funds

Statement of Revenues, Expenses and Changes in Net Assets - Proprietary Funds

Statement of Cash Flows - Proprietary Funds

Statement of Fiduciary Net Assets - Fiduciary Funds

Statement of Changes in Fiduciary Net Assets - Fiduciary Funds

Index to Notes to Financial Statements

Notes to Financial Statements

Page(s)

ii

iii

iv - ix

1 - 2

3 - 13

14

15 - 16

17 - 18

19

20 - 21

22

23 - 24

25 - 26

27 - 28

29

30

31

32 - 75

CITY OF WHEATON

TABLE OF CONTENTS (cont.) As of and For the Year Ended April 30, 2012


General Fund

Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual - General Fund

Special Revenue Fund

Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget

Page(s)

76 -79

and Actual - Tax Increment Financing #2 Fund 80

Schedule of Employer's Contributions and Schedule of Funding Progress

Illinois Municipal Retirement Fund

Police Pension Fund

Firefighters' Pension Fund

Other Post Employment Benefit Plan

Notes to Required Supplementary Information

SUPPLEMENTARY INFORMA TION

General Fund

Comparative Balance Sheet - General Fund

Schedule of Revenues - Budget and Actual - General Fund

Schedule of Expenditures - Budget and Actual - General Fund

Special Revenue Fund

81

82

83

84

85

86

87 - 89

90 - 110

Comparative Balance Sheet - Tax Increment Financing #2 Fund 111

Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual - Tax Increment Financing #2 Fund 112

Debt Service Fund

Comparative Balance Sheet - Debt Service Fund 113

Detailed Schedule of Revenues, Expenditures, and Changes in Fund Balance -Budget and Actual - Debt Service Fund 114

CITY OF WHEATON


SUPPLEMENTARY INFORMATION (cont.)

Governmental Funds

Combining Balance Sheet - Nonmajor Governmental Funds

Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Nonmajor Governmental Funds

Schedules of Revenues, Expenditures, and Changes in Fund Balances -Budget and Actual

Motor Fuel Tax Fund - Special Revenue Fund

Tax Increment Financing #1 Fund - Special Revenue Fund

Tax Increment Financing #3 Fund - Special Revenue Fund

2010 General Obligation Bond Fund

Project Length Schedule - 2010 General Obligation Bond Fund

Enterprise Funds

Waterworks Fund

Comparative Statement of Net Assets

Schedule of Revenues, Expenses, and Changes in Net Assets - Budget and Actual - Budgetary Basis

Sewerage Fund



Parking Revenue Fund



Page(s)

115

116

117

118

119

120

121

122

123 - 127

128

129 - 132

133

134 - 136

CITY OF WHEATON


SUPPLEMENTARY INFORMATION (cont.)

Internal Service Funds

Page(s)

Combining Statement of Net Assets - Internal Services Funds 137 - 138

Combining Statement of Revenues, Expenses and Changes in Fund Net Assets - Internal Service Funds 139 - 140

Combining Statement of Cash Flows -Internal Service Funds 141 - 144

Statement of Revenues, Expenses and Changes in Fund Net Assets - Budget and Actual - Budgetary Basis

Municipal Garage Fund

Capital Equipment Replacement Fund

Liability Insurance Fund

Health Insurance Fund

Fiduciary Funds

145 - 146

147

148

149

Combining Statement of Plan Net Assets - Pension Trust Funds 150

Combining Statement of Changes in Plan Net Assets - Pension Trust Funds 151

Schedule of Changes in Plan Net Assets - Budget and Actual - Police Pension Fund 152

Schedule of Changes in Plan Net Assets - Budget and Actual - Firefighters' Pension Fund 153

Component Unit

Component Unit - Wheaton Public Library - Balance Sheet and Statement of Net Assets

Component Unit - Wheaton Public Library - Statement of Revenues, Expenditures, and Changes in Fund Balance and Statement of Activities

Debt Service Schedules

Long-term Debt Requirements :

154 - 155

156 - 157

Corporate Purpose Taxable General Obligation Bond Services of 1998A 158

Corporate Purpose General Obligation Refunding Bond Series of 2003A 159

Corporate Purpose General Obligation Bond Series of 2004 160

Corporate Purpose General Obligation Refunding Bond Series of 2005A 161

Corporate Purpose Taxable General Obligation Bond Series of 2005B 162

Corporate Purpose Taxable General Obligation Bond Series of 2007 163

Corporate Purpose General Obligation Bond Series of 2010 164

Independent Auditors' Compliance Report 165

CITY OF WHEATON


STATISTICAL SECTION

Financial Trends

Net Assets by Component

Change in Net Assets

Fund Balances of Governmental Funds

Changes in Fund Balance of Governmental Funds

Revenue Capacity

Assessed Value and Actual Value of Taxable Property

Property Tax Rates - Direct and Overlapping Governments

Principal Property Taxpayers

Property Tax Levies and Collections

Taxable Sales by Category

Direct and Overlapping Sales Tax Rates

Debt Capacity

Ratios of Outstanding Debt by Type

Ratios of General Bonded Debt Outstanding

Direct and Overlapping Governmental Activities Debt

Schedule of Legal Debt Margin

Demographic and Economic Information

Demographic and Economic Information

Principal Employer

Operating Information

Full-Time Equivalent Employees

Operating Indicators

Capital Asset Statistics

Page(s)

166

167 - 168

169

170

171

172

173

174

175

176

177

178

179

180

181

182

183

184

185

CITY OF WHEATON, ILLINOIS

PRINCIPAL OFFICIALS April 30, 2012

Mayor Michael Gresk

(Term Expires May 2015)

Tom Mouhelis, East District (Term Expires May 2013)

Jeanne Ives, At-Large (Term Expires May 2015)

Phil Suess, North District (Term Expires May 2013)

John W. Vires Sharon Barrett-Hagen

Donald B. Rose Michael Dzugan

City Council

Appointed

City Treasurer City Clerk

Todd Scalzo, West District (Term Expires May 2013)

Evelyn Pacino Sanguinetti, At-Large (Term Expires May 2015)

John Rutledge, South District (Term Expires May 2013)

Administration

City Manager Assistant City Manager

Department Heads

Robert Lehnhardt John Duguay Chad Michaelis Jim Kozik Paul Redman Joe Kreidl Mark Field Greg Berk Vincent Laoang Gary White

Director of Finance Director of Human Resources Director of Information Technology Director of Planning and Economic Development Director of Engineering Director of Building and Code Enforcement Police Chief Fire Chief Director of Public Works Communications Manager


ORGANIZATIONAL CHART April 30, 2012

CITIZENS

Elect

MAYOR AND CITY COUNCIL

OTHER BOARDS & Appoints Appoints LIBRARY BOARD COMMISSIONS

J Library Director

CITY TREASURER Appoints

CITY CLERK

CITY MANAGER

CITY ATTORNEY

ASSISTANT CITY MANAGER

OPERATIONAL GROUP DEVELOPMENT GROUP City Manager Assistant City Manager

f--Director of Finance Director of Engineering r-

r- Police Chief r- Director of Building & Code Enforcement

. Fire Chief Director of

f-- r- Planning & Economic Development

f-Director of

Public Works r- Director of Information Technology

Director of "- Human Resources "- Communications

Manager

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Certificate of Achievement for Excellence

in Financial Reporting

Presented to

City of Wheaton

Illinois For its Comprehensive Annual

Financial Report

for the Fiscal Year Ended

April 30, 2011

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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Wheaton City Hall 303 W. Wesley St . P.O. Box 727

Wheaton, IL 60187-0727 630-260-2000

City of Wheaton , Illinois www.wheaton il us

October 25, 2012

TO: Honorable Mayor and City Council City Manager, Donald B. Rose Residents of the City of Wheaton

State law requires that all general-purpose local governments publish within six months of the close of each fiscal year a complete set of financial statements presented in conformity with generally accepted accounting principles (GAAP) and audited in accordance with generally accepted auditing standards by a firm of licensed certified public accountants. Pursuant to that requirement, we hereby issue the comprehensive annual financial report of the City of Wheaton for the fiscal year ended April 30, 2012.

This report consists of management's representations concerning the finances of the City of Wheaton. Consequently, management assumes full responsibility for the completeness and reliability of all of the information presented in this report. To provide a reasonable basis for making these representations, management of the City of Wheaton has established a comprehensive internal control framework that is designed both to protect the government's assets from loss, theft, or misuse and to compile sufficient reliable information for the preparation of the City of Wheaton's financial statements in conformity with GAAP. Because the cost of internal controls should not outweigh their benefits, the City of Wheaton's comprehensive framework of internal controls has been designed to provide reasonable rather than absolute assurance that the financial statements will be free from material misstatement. As management, we assert that, to the best of our knowledge and belief, this financial report is complete and reliable in all material respects.

The City of Wheaton's financial statements have been audited by Baker Tilly Virchow Krause, LLP, a firm of licensed certified public accountants. The goal of the independent audit was to provide reasonable assurance that the financial statements of the City of Wheaton for the fiscal year ended April 30, 2012, are free of material misstatement. The independent audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; assessing the accounting principles used and significant estimates made by management; and evaluating the overall financial statement presentation. The independent auditor concluded, based upon the audit, that there was a reasonable basis for rendering an unqualified opinion that the City of Wheaton's financial statements for the fiscal year ended April 30, 2012, are fairly presented in conformity with GAAP. The independent auditor's report is presented as the first component of the financial section of this report.

GAAP requires that management provide a narrative introduction, overview, and analysis to accompany the basic financial statements in the form of Management's Discussion and Analysis (MD&A). This letter of transmittal is designed to complement MD&A and should be read in conjunction with it. The City of Wheaton's MD&A can be found immediately following the report of the independent auditors.

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Profile of the City of Wheaton

The City was incorporated in 1859. It is a home-rule community as defined by the Illinois Constitution and as such is empowered to levy a real estate property tax, at the rate it claims appropriate, on all property located within its boundaries. The City of Wheaton is located approximately 25 miles west of the City of Chicago in DuPage County and has a land area of 11.20 square miles with approximately 168.79 miles of streets. The 2010 census certified a population of 52,894.

The governing body of the City is composed of six City Council members of which four are elected from districts and two, plus the Mayor, are elected at-large, all with staggered four year terms. The City Council appoints a City Manager, City Clerk and City Treasurer. Since 1961 the City has operated under the Council-Manager form of government with the City Manager responsible for the daily operations and staffing of the City.

The City provides a full range of services including: public safety (police and fire protection); the construction and maintenance of streets and infrastructure; social and cultural services, water treatment and distribution, planning and zoning, and general administrative services. The City also operates a public access cable television broadcasting facility which produces community programs. To provide these services, the City has 294 fUll-time equivalent employees, including 65 sworn police officers and 37 sworn firefighters . The Fire Department operates out of three stations and contracts with a private provider for emergency medical services. The City has a Class 4 fire insurance rating.

Component units, although legally separate entities, are a part of the primary government's operations and are included with the primary government's financial reports. The Wheaton Public Library is a discretely presented component unit of the City, with an independently operating board appointed by the City Council.

The annual budget serves as the foundation for the City of Wheaton's financial planning and control. All departments of the City of Wheaton are required to submit requests for appropriations to the City Manager by a specified date in January of each year. These requests serve as the starting pOint for developing the annual proposed budget. The proposed budget is presented to the City Council for review at budget workshop sessions in March. The City is required by law to hold a public hearing on the proposed budget prior to budget adoption. The annual budget must be adopted before the beginning of the City of Wheaton's fiscal year, which begins on May 1 st.

The annual budget is prepared by fund, function (e.g., public safety), and department (e.g., police) and includes information on the past year, current year estimates, and requested appropriations for the next fiscal year. Management may transfer budget amounts between functions and activities; however, transfers between funds must be approved by the City Council. Expenditures may not legally exceed budgeted appropriations at the fund level. Budget-to-actual comparisons are provided in this report for each individual governmental fund for which an appropriated annual budget has been adopted. For the General fund, this comparison is presented on page 76 as part of the required supplementary information. For governmental funds, other than the General fund, with appropriated annual budgets, this comparison is presented in the required supplementary information or combining and individual fund financial statements and schedules. Also included in the combining and individual fund financial statements and schedules are project-length budget-to-actual comparisons for each governmental fund for which a project-length budget has been adopted (Le., capital project funds).

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Factors Affecting Financial Conditions

The information presented in the financial statements is best understood when it is considered from the broader perspective of the specific environment within which the City of Wheaton operates.

Local Economy. Money Magazine listed the City of Wheaton as one of the 2012 "Top 100 Best Place to Live." The City is primarily residential in nature, with supporting commercial activity and limited industrial and manufacturing activity. The majority of residents are employed in management, professional, sales and office occupations. The unemployment rate at the end of fiscal year 2012 for the City was 6.3% , which compares favorably to 7.4% for DuPage County and 8.6% for the State of Illinois.

Proximity to the Interstate 88 Ronald Reagan Memorial Tollway, known as the Research and Development Corridor, has provided enhanced job opportunities and economic development. The DuPage County Courthouse and Administrative Complex are located within the City, as is Wheaton College, and the Illinois Institute of Technology (liT) Danada campus. Commercial and retail development over the years along Roosevelt Road and at the Danada property has significantly enhanced the City's commercial base.

The City of Wheaton has limited potential for future annexation and existing land area is estimated to be nearly built-out. However, the City continues to be committed to revitalizing downtown Wheaton in order to offer its residents and visitors a unique variety of retail and dining experiences and to create a thriving heart of Wheaton. The City created Tax Increment Financing (TIF) Districts in downtown Wheaton to help redevelop the area and attract new businesses. In these districts, the City offers financial assistance to redevelopment projects. These areas must meet a number of criteria that are determined by state law, such as age, deterioration and depreciation. The funds which the City allocates to redevelopment projects are recouped over time through the increased tax revenues resulting from the higher valued developed properties.

The largest current development opportunity in the City is a 22-acre site which was formerly the Hubble Middle School located at the gateway to the downtown. In 2009, a steering committee was formed, including representatives from the City, School District, Park District, business community and surrounding neighborhoods to guide the process. A consultant was hired to generate a redevelopment plan for the Hubble site and solicit developers. In 2011, the School District entered into an agreement with a developer for commercial redevelopment of the site, including bringing in a grocery store, along with working with the Wheaton Park District to incorporate public space uses and to preserve existing athletic fields currently on the site. The project is currently underway and is expected to be completed in late 2013.

Long-Term Financial Planning. The City produces a Five-Year Financial Forecast annually which provides projections for all City revenues and expenditures. Information is gathered from each department regarding major capital projects and changes in operating levels and services that may be needed or desired over the next five years . Other long-range financial plans utilized by management are the Five-Year Capital Improvements Program (also known as the Five-Year Road Program) completed annually by the Engineering Department and Public Works Department, which provides a plan for infrastructure improvements related to the City's roads, water and sewer systems; the Facility Needs Program, completed by the Facilities Manager

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which provides a plan for repair and replacements to City buildings, equipment and property; and the Five-Year Municipal Garage Vehicle and Equipment Replacement Program completed annually by the Public Works and Information Technology Departments, which provides a plan for the maintenance and replacement of the City's vehicles and equipment.

The City continued its commitment to fund infrastructure improvements in fiscal year 2012, allocating approximately $3.7 million for roads, water, sanitary and storm sewer improvements. The City has committed funding for the mandated Environmental Protection Agency's National Pollution Discharge Elimination System (NPDES) sanitary sewer overflow compliance program. The City and the Wheaton Park District have been working together on the North Main Street Flood Control Project to develop a plan to alleviate the flooding at North Main Street at an estimated cost of $2 million.

During fiscal year 2012, the Wheaton City Council updated the City's strategic goals to guide the Council'S and City staff's decisions and actions. Council members held a number of workshops to determine the overall goals that the Council believes are the City's highest priorities. The resulting strategic priorities pertain to financial stability; quality infrastructure; efficient and effective services; and economic development. Specifically, the strategic priorities are summarized as follows:

1. Financial Stability. Maintain a positive financial position with a long-term perspective of achieving greater reliance on local revenue sources. Ensure that operating revenues and expenditures are in balance, while continuing to invest in critical infrastructure.

Key Performance Indicators: I. Operating reserves equal 40% of yearly operating expenditures in the

General Fund by April 30, 2015. II. Annual operating costs increase by 2% or less, beginning with the fiscal

year 2012-13 budget. III. 90% of the revenues for General Fund supported services are locally

generated by April 30, 2015.

2. Quality Infrastructure. Maintain reliable infrastructure systems that support the high level of community expectations. Systems are delivered equitably and appropriately.

Key Performance Indicators: I. City-wide program to reduce sanitary sewer backups and overflows initiated

by September 2012. II. Customer satisfaction with community infrastructure systems exceeds 90%

by December 31, 2014. III. Reduce the number of homes experiencing overland flooding damage due

to 1 OO-year storm event by 20% from 2011 to 2015. IV. Pavement condition for all streets shall average in the "good" category by

April 30, 2017. V. Maintain the existing sidewalk system with no "high" deficiencies.

3. Efficient and Effective Services. Services are delivered at a level and scope established by historical practice. Sustaining current levels is desired, and achieved through continuous operational efficiencies, and balanced against resource limitations and prioritization.

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Key Performance Indicators: I. Operating efficiency improvements generate $75k in savings by April 30,

2015. II. Customer satisfaction with existing programs and services at or above 90%

as measured by community survey. III. Productivity is improved by at least 2% for 5 identified services per year.

4. Economic Development. Maximize taxable property value, reduce vacancies and create an inviting environment for doing business, consistent with the needs and values of the community. Development/redevelopment should be market based and limited City incentives/investments in projects meeting community objectives may be considered.

Key Performance Indicators: I. Vacancies in retail establishments across the City reduced by 15% from

2011 to April 30, 2015. II. Net property value from new investment increases by $2.5M from January

1, 2012 to April 30, 2015. III. Strategic plan for downtown completed by January 1, 2013. IV. Economic Development Plan for the City completed by July 1, 2013.

The City Council formally adopted the Strategic Priorities by resolution in November, 2011. The City is currently working on identifying initiatives to address each Strategic Priority and Key Performance Indicator.

Awards and Acknowledgements. The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Wheaton for its comprehensive annual financial report for the fiscal year ended April 30, 2011. This was the 29th consecutive year that the government has received this prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report. This report satisfied 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 comprehensive annual financial report continues to meet the Certificate of Achievement Program's requirements and we are submitting it to the GFOA to determine its eligibility for another certificate.

In addition, the City of Wheaton also received the GFOA's Distinguished Budget Presentation Award for its annual budget document dated April 30, 2012. This was the 10th consecutive year the City has received this award. In order to qualify for the Distinguished Budget Presentation Award, the government must publish a budget document that meets program criteria as a policy document, as an operations guide, as a financial plan and as a communication device.

These awards reflect the ongoing support from the Mayor, the City Council and the City Manager for maintaining the highest standards of professionalism in the management of the City of Wheaton's finances.

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The preparation of this report would not have been possible without the efficient and dedicated services of the entire staff of the finance department. I would like to express my appreciation to all members of the department who assisted and contributed to the preparation of this report.

Respectfully submitted ,

Robert R. Lehnhardt Director of Finance

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~ -BAKER TILLY

To the Mayor and City Council City of Wheaton Wheaton, Illinois

INDEPENDENT AUDITORS' REPORT

Baker Tilly Virchow Krause. LLP 1301 W 22nd St. Ste 400 Oak Brook. IL 60523-3389 tel 630 990 3131 fax 630 990 0039 bakertilly.com

We have audited the accompanying financial statements of the governmental activities, the businesstype activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the City of Wheaton, Illinois, as of and for the year ended April 30, 2012, which collectively comprise the City of Wheaton's basic financial statements as listed in the table of contents. These financial statements are the responsibility of the City of Wheaton's management. Our responsibility is to express opinions on these financial statements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinions.

In our opinion, the financial statements referred to previously present fairly, in all material respects, the respective financial position of the governmental activities , the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the City of Wheaton, Illinois as of April 30, 2012, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America .

As described in Note I, the city adopted the provisions of GASB Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions, effective May 1, 2011.

Accounting principles generally accepted in the United States of America require that the required supplementary information as listed in the table of contents be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economical, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted principally of inquiries of management regarding the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We did not express an opinion or provide any other assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

~ilnlndependenlmembero r BAKER TILLY INTERNATIONAL

Page 1

To the Mayor and City Council City of Wheaton

Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City of Wheaton's basic financial statements. The supplementary information as listed in the table of contents, is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The info"rmation has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the basic financial statements as a whole. We have also previously audited, in accordance with auditing standards generally accepted in the United States of America, the City of Wheaton's basic financial statements for the year ended April 30, 2011, which are not presented with the accompanying financial statements. In our report dated October 17, 2011, we expressed an opinion that the 2011 combining and individual fund financial statements and schedules are fairly stated in all material respects in relation to the basic financial statements for the year ended April 30, 2011, as a whole.

Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City of Wheaton's basic financial statements. The introductory section and the statistical section listed in the accompanying table of contents, are presented for purposes of additional analysis and are not a required part of the basic financial statements . Such information has not been subjected to the auditing procedures applied in the audit of the basic financial statements, and accordingly, we do &I;S ~oPiniov;:ce i;;u'Ufn it. Oak Brook, liiin~ October 25, 2012

Page 2


MANAGEMENT'S DISCUSSION AND ANALYSIS

April 30, 2012

As the management of the City of Wheaton (the "City"), we offer readers of the City's financial statements this narrative overview and analysis of the financial activities of the City for the fiscal year ended April 30, 2012. Since the Management's Discussion and Analysis (MD&A) is designed to focus on the current year's activities, resulting changes and currently known facts, please read it in conjunction with the Letter of Transmittal on pages iv through ix and the City's financial statements beginning on page 14.

Overview of the Financial Statements

The focus of the financial statements is on the City as a whole (government-wide) and on the major individual funds (major fund). Both perspectives (government-wide and major fund) allow the user to address relevant questions, broaden the basis for comparison (year to year or government to government) and enhance the City's accountability.

This discussion and analysis is intended to serve as an introduction to the City's basic financial statements. The City's basic financial statements comprise three components: government-wide financial statements, fund financial statements, and notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves.

Financial Highlights

• The City's total assets increased $1.6 million (or 0.5%) for the fiscal year ending April 30, 2012. The governmental activities total assets increased $2.5 million (or 0.9%) while business-type activities total assets decreased $0.9 million (or 1.6%).

• The City's total liabilities decreased $6.3 million (or 7.9%) for the fiscal year ending April 30, 2012. Governmental activities total liabilities decreased $5.5 million (or 7.4%) and business-type activities total liabilities decreased $0.8 million (or 13.2%).

• The City's total net assets increased $7.9 million (or 3.0%) compared to fiscal year 2011. Governmental activities net assets increased by $8.0 million (or 3.8%) while business-type activities decreased slightly by $0.1 million (or 0.2%).

• The City's total revenues were $2.9 million (or 5.0%) greater than the prior fiscal year. Governmental activities revenue increased $1.7 million (or 3.6%) and business-type activities revenue increased by $1.2 million (or 11.2%).

• Total City expenses decreased $2.2 million (or 3.9%) with governmental activities expenses decreasing $2.9 million (or 6.6%) and business-type activities increasing $0.7 million (or 6.4%).

Government-Wide Financial Statements. The government-wide financial statements are designed to provide readers with a broad overview of the City's finances, in a manner similar to a private-sector business.

The Statement of Net Assets presents information on all of the City's assets and liabilities, with the difference between the two 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 City is improving or deteriorating.

The Statement of Activities presents information showing how the City'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.

(See independent auditor's report.) Page 3

CITY OF WHEATON, ILLINOIS MANAGEMENT'S DISCUSSION AND ANALYSIS (Continued)

Both of the government-wide financial statements distinguish functions of the City that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (businesstype activities). The governmental activities reflect the City's basic services, including general government, public safety, highways and streets, and culture and recreation. The business-type activities include the water and sewer operations and the downtown and commuter parking operations.

The government-wide financial statements can be found on pages 14 through 16 of this report.

Fund Financial Statements. A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the City can be divided into three categories: governmental funds, proprietary funds, and fiduciary funds.

Governmental Funds. Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government's near-term financing requirements.

Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the government's near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.

The City maintains seven (7) 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, Tax Increment Financing #2 Fund and Debt Service Fund, all of which are considered to be major funds. Data from the other four (4) 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 City adopts an annual budget for its General Fund. A budgetary comparison statement has been provided for the General Fund to demonstrate compliance with this budget.

The basic governmental fund financial statements can be found on pages 17 through 22 of this report.

Proprietary Funds. The City maintains two different types of proprietary funds: enterprise funds and internal service funds. Enterprise funds are used to report the same functions presented as businesstype activities in the government-wide financial statements. The City uses separate enterprise funds to account for its water system, sewer system and municipal parking system. Internal service funds are an accounting device used to accumulate and allocate costs internally among the City's various functions. The City uses internal service funds to account for the costs of providing vehicle services to City departments, the replacement of major operating equipment, general liability insurance (property/casualty and workers' compensation) and for the City's health insurance plan.

Proprietary funds 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 Fund, Sewerage Fund and Parking Revenue Fund, which are considered to be major funds of the City. Conversely, 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 23 through 28 of this report.

Fiduciary Funds. Fiduciary funds are used to account for resources held for the benefit of parties outside of 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 City's own programs. The accounting used for fiduciary funds is much like that used for proprietary funds. The City maintains two fiduciary funds: the Police Pension Fund and the Firefighters' Pension Fund.

The basic fiduciary fund financial statements can be found on pages 29 and 30 of this report.

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 31 through 75 of this report.

Other Information. In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information concerning budget to actual comparisons for the General Fund and major governmental funds and the City's progress in funding its obligation to provide pensions to its employees. Required supplementary information can be found on pages 76 through 85 of this report.

The combining statements referred to earlier in connection with nonmajor governmental funds and internal service funds are presented immediately following the required supplementary information on pensions. Combining and individual fund statements and schedules can be found on pages 86 through 164 of this report.

Financial Analysis of the City as a Whole

Statement of Net Assets. Net assets may serve over time as a useful indicator of a government's financial position. In the case of the City, assets exceeded liabilities by $272.9 million at April 3D, 2012. The following table reflects a condensed Statement of Net Assets:

Current assets Capital assets

Total assets

Current liabilities Long-term liabilities

Total liabilities

Net Assets: Inl.ested in capital assets,

net of related debt Restricted Unrestricted

Total Net Assets

City of Wheaton Statement of Net Assets

As of April 30, 2012

Governmental Activities

2012 2011

Business-Type Activities

2012 2011

Total Primary Government 2012 2011

$ 63,272,956 $ 56,396,056 $10,006,772 $11,659,857 $ 73,279,728 $ 68,055,913 227,202,733 231,530,353 290,475,689 287,926,409

24,067,859 44,560,611 68,628,470

194,660,201 7,573,021

19,613,997 $ 221,847,219

24,621,881 49,505,343 74,127,224

196,656,705 3,641,861

13,500,619 $ 213,799,185

46,595,169 45,881,490 56,601,941 57,541,347

1,191,779 4,389,279 5,581 ,058

42,466,630

8,554,253 $51,020,883

1,268,730 5,159,727 6,428,457

41,202,244

9,910,646 $ 51 ,112,890

(See independent auditor's report.)

273,797,902 277 ,411,843 347,077,630 345,467,756

25,259,638 48,949,890 74,209,528

237,126,831 7,573,021

28,168,250 $ 272,868,102

25,890,611 54,665,070 80,555,681

237,858,949 3,641,861

23,411 ,265 $ 264,912,075

Page 5


The largest portion of the City's net assets, at $237.1 million (or 86.9%), is its investment in capital assets (land, buildings, equipment and infrastructure), less any related debt used to acquire those assets that is still outstanding. The City uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Although the City'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 sources, since the capital assets themselves cannot be used to liquidate the debt.

Restricted net assets account for $7.6 million (or 2.8%) of total net assets and represent resources that are subject to external restrictions on how they may be used. The major components of restricted net assets are: $2.5 million for capital construction, $1.8 million for TIF development, $1.7 million for debt service, and $1.4 million for road improvements.

The remaining portion of the City's net assets is $28.2 million (or 10.3%) in unrestricted net assets which may be used to meet the City's ongoing obligations to citizens and creditors.

For more detailed information, see the Statement of Net Assets on page 14.

Changes in Net Assets. The following table summarizes the revenues and expenses of the City's activities.

Revenues Program Re\enues:

Charges for SeNces Operating Grants & Contributions Capital Grants & Contributions

General Re\enues: Property Taxes Sales Taxes Other Taxes Other

Total Revenues

Expenses General GO\emment Public Safety Highways and Streets Culture and Recreation Interest Waterworks Sewerage Parking

Total Expenses

Change in Net Assets before Transfers

Transfers


Net Assets, May 1

Net Assets, April 30

$

City of Wheaton

Changes in Net Assets For the Fiscal Year Ended April 30, 2012

Governmental Business-Type Activities Activities

2012 2011 2012 2011

5,800,299 $ 4,873,921 $ 10,462,640 $ 10,167,493 1,977,958 1,874,379

816,715 354,490 980,000 95,100

20,043,643 19,952,352 40,108 41,716 9,300,068 9,320,258

10,744,474 10,736,205 927,128 773,359 13,730 32,449

49,610,285 47,884,964 11,496,478 10,336,758

7,796,579 8,235,651 20,505,325 20,826,751 10,453,763 12,478,424

97,757 99,516 1,965,633 2,073,237

7,486,425 6,981,970 3,574,276 3,457,633 1,270,978 1,148,283

40,819,057 43,713,579 12,331,679 11,587,886

8,791,228 4,171,385 (835,201) (1,251,128)

(743,194) (739,850) 743,194 739,850

8,048,034 3,431,535 (92,007) (511,278)

213,799,185 210,367,650 51,112,890 51,624,168

$ 221,847,219 $213,799,185 $ 51,020,883 $ 51,112,890



$ 16,262,939 $ 15,041,414 1,977,958 1,874,379 1,796,715 449,590

20,083,751 19,994,068 9,300,068 9,320,258

10,744,474 10,736,205 940,858 805,808

61,106,763 58,221,722

7,796,579 8,235,651 20,505,325 20,826,751 10,453,763 12,478,424

97,757 99,516 1,965,633 2,073,237 7,486,425 6,981,970 3,574,276 3,457,633 1,270,978 1,148,283

53,150,736 55,301,465

7,956,027 2,920,257

7,956,027 2,920,257

264,912,075 261,991,818

$272,868,102 $264,912,075

Page 6


Governmental activities. Total revenues for governmental activities were $49.6 million compared to $47.9 million for fiscal year 2012. Contributing factors to the $1.7 million increase include:

• Charges for Services increased $0.9 million (or 19.0%) from $4.9 million to $5.8 million mainly due to increases in fees for ambulance services ($0.2 million) and the first full year of collections for the new fire alarm monitoring fee ($0.3 million).

• Capital Grants and Contributions increased $0.5 million compared to the prior fiscal year due to cost-sharing agreements with the State and DuPage County for the ManchesterlWesley Street Bridge reconstruction project.

• Operating Grants and Contributions increased $0.1 million compared to the prior fiscal year due to the Energy Efficiency & Conservation Block Grant and the FEMA grant for the severe winter storm.

$22,000,000 $20,000,000 $18,000,000 $16,000,000 $14,000,000 $12,000,000 $10,000,000

$8,000,000 $6,000,000 $4,000,000 $2,000,000

$-

Governmental Activities Revenues

Property Taxes Other Taxes Sales TaxES Charges for Operating/Capita SelVices Grants &

Contributions

02012 - 2011

Other

Total governmental activities expenses decreased by $2.9 million (or 6.6%) from $43.7 million to $40.8 million. The majority of this decrease is attributable to a $1 .2 million reduction in compensated absences as a result of the City's continued efforts to reduce personnel costs. Highways and Streets decreased $2.0 million (or 16.2%), General Government expenses decreased $0.4 million (or 5.3%), and Public Safety expenses decreased $0.3 million (or 1.5%). The Public Safety and Highways and Streets functions accounted for 75.8% of the City's total governmental activity expenses in fiscal year 2012.



Governmental Activities Expenses For the Fiscal Year Ended April 30, 2012

Highways and Streets

25.6%

Culture and

0.3%

Business-type activities.

General ovemment

19.1%

Safety 50.2%

Governmental Activities Expenses For the Fiscal Year Ended April 30, 2011


28.5%

Culture and Recreation

0.2%

Safety 47.6%

Total revenues for business-type activities increased $1.2 million (or 11.2%) from $10.3 million to $11 .5 million. Charges for Services accounted for 91 % of the revenues for business-type activities in fiscal year 2012. Total Charges for Services increased $0.3 million (or 2.9%) compared to last fiscal year with the water service charges increasing $0.7 million (or 13.9%), offset by a decrease of $0.4 million (or 11.5%) in sewer service charges. The water rate was increased $.80 (per 100 cubic feet) on January 1, 2012 in response to the increased cost to purchase water from the DuPage Water Commission. Capital Grants and Contributions increased $0.9 million and Taxes & Other decreased $20,327 from fiscal year 2011.

Business-Type Activities Revenues Forthe Fiscal Year Ended April 30, 2012

Capital Grants &

8.5%

-_", .. a'·II,,~ for SeNices

91.0%

Business-Type Activities Revenues Forthe Fiscal Year Ended April 30, 2011

Capital Grants &

98.4%

Total expenses for business-type activities increased $0.7 million (or 6.4%) as compared to the prior fiscal year. The Waterworks Fund expenses increased $0.5 million (or 7.2%) mainly due to the increase in the costs of purchasing water from the DuPage Water Commission. The Sewerage Fund expenses increased $0.1 million (or 3.4%) and the Parking Revenue Fund expenses increased $0.1 million (or 10.7%) compared to the prior year.



Business-Type Activities Expenses Forthe Fiscal Year Ended April 30, 2012

29%

Partling Revenue

10%

Waterwor1ts 61%

Business-Type Activities Expenses For the Fiscal Year Ended April 30, 2011

Sewerage 30%

Partllng Revenue

10%

Financial Analysis of the City's Funds

As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with financerelated legal requirements.

Governmental funds. The focus of the City's governmental funds is to provide information on near-term inflows, outflows and balances of spendable resources. Such information is useful in assessing the City's financing requirements. In particular, unassigned fund balance serves as a useful measure of the City's net resources available for spending at the end of the fiscal year. As of April 30, 2012, the City's governmental funds reported combined ending fund balances of $26.2 million, an increase of $5.7 million. Of the total fund balance, the City reported an unassigned fund balance of $13.1 million, an increase of $6.6 million from the prior fiscal year's balance of $6.5 million. Total restricted fund balance was $9.2 million at fiscal year end and includes: $4.1 million committed for completion of the ManchesterlWesley Street Bridge reconstruction project, North Main Street Flood Control project and Briarcliffe Boulevard reconstruction project, $1.8 million for TIF development, $1 .7 million for debt service, and $1.4 million for road improvements. Total nonspendable fund balance of $1.0 million decreased $1 .0 million from the prior year due to the reduction in the advance to the TIF District #2 Fund from the General Fund. The City also reported assigned fund balance of $2.9 million, a decrease of $1.2 million, for compensated absences and municipal band equipment replacement.

The General Fund is the primary operating fund of the City. The total fund balance of the General Fund increased $3.9 million to $17.2 million at the end of the current fiscal year. The City had taken a number of steps in previous years to restore the fund balance by reducing expenditures, including the elimination of personnel, programs and service levels. In addition, the City increased its home rule sales tax, natural gas utility tax, electricity utility tax, and the annual property tax levy. The City's fund balance policy is to maintain a minimum total fund balance level equal to 40% of annual operating expenditures, excluding capital improvements. Total fund balance was 49.8% of total operating expenditures, which was 39.4% last fiscal year. The unassigned fund balance of the General Fund was $13.1 million, an increase of $6.1 million. As a measure of the General Fund's liquidity, it is useful to compare unassigned fund balance to total fund expenditures. Unassigned fund balance represents 38.0% of the total General Fund expenditures, compared to 20.7% last fiscal year.

The Tax Increment Financing #2 Fund had an increase of $1.4 million in fund balance to $0.9 million at April 30, 2012. The TIF #2 Fund had a $0.5 million deficit balance at April 30, 2011. The TIF #2 Fund reduced the advance from the General Fund by $1.0 million during the fiscal year, with $926,652 remaining due at April 30, 2012. The TIF #2 Fund received $1.6 million in property tax revenues, a $500,000 transfer in from Tax Increment Financing #1 Fund, and $198,022 from the sale of City property. The TIF #2 Fund had $150,728 in operating expenditures and a transfer of $743,194 to the Parking Revenue Fund to pay debt service on the 2007 G.O. Bonds.



The Debt Service Fund had a slight increase of $36,376 in fund balance to $1 .75 million at April 30, 2012. The City has seven General Obligation Bonds outstanding, of which four of the issuances are either partially or entirely funded from Tax Increment Financing #1 Fund (TIF 1) and Tax Increment Financing #3 (TIF 3) Fund incremental property tax revenues. The TIF 1 Fund transferred $0.9 million and the TIF 3 Fund transferred $1.1 million to the Debt Service Fund for the payment of debt service this fiscal year.

Nonmajor governmental funds, which include the Motor Fuel Tax, Tax Increment Financing #1 , Tax Increment Financing #3 and 2010 General Obligation Bond funds, combined for a total fund balance of $6.4 million at April 30, 2012, a slight increase of $0.4 million from the prior fiscal year.

Proprietary funds. The City's proprietary fund statements provide the same type of information found in the governmentwide financial statements, but in more detail. The Waterworks Fund had net assets of $15.6 million, a decrease of $1.5 million. The Sewerage Fund had an increase in net assets of $1.0 million from $25.8 million to $26.8 million. The Parking Revenue Fund's net assets increased $0.1 million from $8.2 million to $8.3 million. The factors concerning the finances of these funds have already been addressed in the discussion of the City's business-type activities on pages 8 and 9.

REVENUES Taxes Charges for Services Other

Total revenues

EXPENDITURES General GO\emment Public Safety Highways and Streets Culture and Recreation

Total expenditures

OTHER FINANCING SOURCES (USES) Transfers (out) Sale of capital assets

General Fund Budgetary Highlights

City of Wheaton General Fund Budgetary Highlights

For the Fiscal Year Ended April 30, 2012

Original Budget Final Budget 2012 2011 2012 2011

$32,603,796 $30,714.505 $32,603,796 $30,714,505 2,902,975 2,070,872 2,902,975 2,070,872 1,583,205 1,812,505 1,583,205 1,812,505

37,089,976 34,597,882 37,089,976 34,597,882

5,907,107 5,944,550 5,914,607 5,944,550 21 ,517,568 21,001 ,510 21,517,568 21,001 ,510

6,886,661 6,626,771 6,886,661 6,626,771 99,472 99,958 99,472 99,958

34,410,808 33,672,789 34,418,308 33,672,789

(500,000) (500,000) (500,000) (500,000) 500 500

Total other financing sources (uses) 1499,500} {500,OOO) 1499,500) (500,000)

Net Change in Fund Balance $ 2,179,668 $ 425,093 $ 2,172,168 $ 425,093

Fund Balance, May 1

Fund Balance, April 30


Actual 2012 2011

$32,736,008 $32,554,627 3,138,705 2,541 ,129 1,925,580 1.628.261

37,800,293 36,724,017

5,780,472 5,716,742 21 ,319,349 20,279,905

6,215,442 6,402,347 97,757 99,516

33,413,020 32,498,510

(500,000) (500,000) 3,884 4,326

(496,116) 1495,674)

$ 3,891,157 $ 3,729,833

13,259,030 9,529,197

$17,150,187 $13,259,030

Page 10


The General Fund's total actual revenues were $0.7 million (or 1.9%) above budget. Tax revenues, which represent the largest source of revenue for the General Fund at 87%, came in $132,212 above budget. Sales tax was slightly below budget by $159,932 and utility taxes were $270,179 below budget. Positive variances were experienced in property taxes ($127,670), income taxes ($132,413), real estate transfer tax ($199,214) and use taxes ($126,677). Charges for services revenues (8% of total revenues) exceeded the budget by $235,730 (or 8.1%) mainly from ambulance service fees which were $238,668 over budget. Other revenues (5% of total revenues) were above budget by $342,375 (or 21.6%) primarily due to the increases in grant proceeds ($127,448) and fines & forfeits ($151,170).

General Fund Tax Revenues For Fiscal Year Ended April 30, 2012

5%

Charges for

Services 8%

Taxes

General Fund total expenditures were $1.0 million (or 2.9%) under budget. General Government expenditures were $134,135 (or 2.3%) under budget. Public Safety expenditures were $198,219 (or 0.9%) under budget, with police protection services accounting for $90,770 and fire protection services $107,449 of the variance. Highways and Streets expenditures were $671,219 (or 9.7%) under budget and Culture and recreation expenditures were slightly under budget by $1,715 (or 1.7%).

General Fund Expenditures For Fiscal Year Ended April 30, 2012

General

17.3%

Recreation 0.3%


18.6%

Public Safety 63.8%



Capital Asset and Debt Administration

Capital Assets. The City's investment in capital assets for both its governmental and business-type activities decreased $3.6 million to $273.8 million (net of accumulated depreciation) as of April 30, 2012. This investment in capital assets includes land, buildings, machinery and equipment, vehicles, roads, bridges, water mains, sanitary sewers and storm sewers. The following schedule reflects the City's capital asset balances as of April 30, 2012.

Land and Land Right of Way Buildings and Impro~ments Machinery, Vehicles & Equipment Infrastructure Construction in Progress

Accumulated Depreciation Total

City of Wheaton Capital Assets



2012 2011 $160,830,565 $160,830,565

42,648,929 42,949,521 15,239,535 14,856,859

118,643,235 118,643,235 3,084,385 2,602,650

(113,243,91 6) (108,352,4n) $ 227,202,733 $231 ,530,353

Business-Type Total Activities Primary Government

2012 2011 2012 2011 $ 1,921,883 $ 1,921 ,883 $162,752,448 $162,752,448

15,467,987 15,467,987 58,116,916 58,417,508 3,673,802 3,673,802 18,913,337 18,530,661

94,097,101 90,915,517 212,740,336 209,558,752 6,186 68,482 3,090,571 2,671,132

(68,571,790) (66,166,181 ) (1 81 ,815,706) (174,518,658) $46,595,1 69 $ 45,881 ,490 $273,797,902 $277,411 ,843

Major capital asset events during the current fiscal year included the following: • Construction in progress of $3.1 million is for the Manchester/Wesley Street Bridge reconstruction

project. • Infrastructure improvements of $3.2 million were completed for water mains, sanitary sewers and

storm sewers. • The City purchased $0.7 million in vehicles and equipment, including 3 public works vehicles, 4

police vehicles, and 2 fire vehicles.

For more information on the City's capital assets, see Note III C. in the notes to the financial statements.

Long-Term Debt. At the end of the current fiscal year, the City had total debt outstanding of $45.4 million (excluding compensated absences, other post-employment benefits and unamortized premiums). This amount is comprised of seven general obligation bond issues backed by the full faith and credit of the City. The City's property tax levy pays the debt service on $30.6 million of the bonds and the remainder of $14.8 million is paid from incremental property tax derived from separately created tax increment financing districts. The following table summarizes the City's bonded indebtedness.

General Obligation Bonds TlF Supported Bonds

Total

City of Wheaton Bonded and Similar Indebtedness



2012 2011 $ 30,615,000 $ 32,715,000 $

Business-Type Activities

2012 2011

- $ - $ 10,625,000 12,100,000 4,125,000 4,675,000

$ 41,240,000 $ 44,815,000 $ 4,125,000 $ 4,675,000 $



30,615,000 $ 32,715,000 14,750,000 16,775,000 45,365,000 $ 49,490,000

Page 12


As an Illinois home-rule community, the City is not subject to any debt limitation. The City's debt policy is to limit the amount of outstanding general obligation debt to a maximum of 5% of the City's equalized assessed valuation (EAV). The City's current EAV of $2,044,039,697 results in a gross debt to EAV ratio of 2.2% as of April 30, 2012. The official U.S. Census population for the City is 52,894, which results in a gross debt per capita of $857.66. The City's general obligation bonds have been given a credit rating of Aaa from Moody's Investors Service. The Aaa rating reflects the City's affluent residential tax base favorably located within the Chicago metro area; demonstrated record of tight budget management; commitment to maintaining strong reserve levels; and manageable amount of rapidly retired debt.

Additional information on the City's long-term debt can be found in Note III E. in the notes to the financial statements.

Economic Factors and Next Year's Budget

The City's general economic outlook remains cautious as we go through this uncertain economy. The City had taken a number of steps in previous years to stabilize City's finances and the City's financial condition has shown signs of improvement the past two fiscal years. However, difficult choices will be faced in the upcoming years to find the means to finance the costs in providing essential services and infrastructure improvements. Moderate revenue growth combined with strict expenditure management and strong reserve balances should allow the City to deliver the current quality and service levels of existing programs. However, any increases in personnel, new programs. new capital expenditures or additional service levels will necessitate finding revenue sources to support the expenditures.

The City will continue to face many of the same financial challenges addressed last year and in the years ahead including:

Fiscal sustainability. Can the City's current revenue base keep pace with personnel and operating expenses?

State of Illinois budget crisis . The delay in income tax distributions to the City and the potential of reductions in state-shared revenues: income tax ($4.19 million), personal property replacement tax ($210,000), use tax ($816,000), and motor fuel tax ($1.35 million).

• Economic Development. The ability of the City to attract new commercial development as well as retain existing businesses. Major shifts in the retail industry, such as the emergence of superstores and online retailing, will continue to limit the City's opportunities to foster growth in sales tax revenues. The State's restrictions on taxing service-based industries also limit the City's revenue potential as those businesses become an increasingly larger portion of our local economy. The uncertain housing market will likely continue to dampen any major residential projects in the foreseeable future .

Personnel Benefits. The future financial impact of the Health Care Reform Bill and increasing pension costs.

Infrastructure. The ability to provide funding for improvements to the City's roads, storm water. sanitary sewers, water mains, sidewalks and municipal facilities.

Contacting the City's Financial Management

This financial report is designed to provide our citizens, customers, investors and creditors with a general overview of the City's finances and to demonstrate the City's accountability of the money it receives. Questions concerning this report or requests for additional financial information should be directed to Robert R. Lehnhardt, Director of Finance, City of Wheaton, 303 West Wesley Street, Wheaton, IL 60187.


CITY OF WHEATON

STATEMENT OF NET ASSETS As of April 30, 2012

Governmental Business-type Component Activities Activities Totals Unit

ASSETS Cash and investments $ 33,903,407 $ 8,463,567 $ 42,366,974 $ 2,120,259 Receivables (net)

Property taxes 19,639,790 38,732 19,678,522 3,366,000 Accounts 2,364,928 1,224,732 3,589,660 Utility taxes 791,635 791,635 Notes 54,534 54,534

Internal balances (239,212) 239,212 Due from other governmental units

Municipal sales tax 2,403,961 2,403,961 Illinois income tax 1,577,694 1,577,694

Inventories and prepaid items 388,656 388,656 Net pension asset 2,090,614 2,090,614 Deferred charges 296,949 40,529 337,478 Capital assets

Land and right of way 160,830,565 1,921 ,883 162,752,448 120,000 Construction in progress 3,084,385 6,186 3,090,571 Other capital assets, net of depreciation 63,287,783 44.667.100 107,954,883 26,987

Total Assets 290.475,689 56.601 .941 347,077,630 5,633,246

LIABILITIES Accounts payable 819,590 712,818 1,532,408 46,448 Contracts payable 12,679 168,553 181,232 Interest payable 773,133 70,898 844,031 Wages payable 657,342 53,933 711,275 50,879 Contributions payable 101 ,591 101,591 Deposits payable 808,661 146,845 955,506 Claims payable 841,999 841,999 Due to other governmental units 76,211 76,211 Unearned revenue 19,976,653 38,732 20,015,385 3,366,000 Noncurrent liabilities

Due within one year 4,916,274 786,053 5,702,327 124,931 Due in more than one year 39.644.337 3.603,226 43,247,563 9,826

Total Liabilities 68.628.470 5.581,058 74,209,528 3,598,084

NET ASSETS Invested in capital assets , net of related

debt 194,660,201 42,466,630 237,126,831 146,987 Restricted for

Highways and streets 1,397,914 1,397,914 Capital construction and purchases 2,466,368 2,466,368 TIF development 1,800,543 1,800,543 Public safety 160,822 160,822 Debt service 1,747,374 1,747,374 Library grants and trusts 294,285

Unrestricted 19,613,997 8.554,253 28,168,250 1.593.890

TOTAL NET ASSETS ~221,84 7,219 ~ 51,020,883 $272,868,102 ~ 2,035,162

See accompanying notes to financial statements. Page 14

Functions/Programs Primary Government

Governmental Activities General government Public safety Highways and streets Culture and recreation Interest expense

Total Governmental Activities

Business-type Activities Waterworks Sewerage Parking

Total Business-type Activities

Total Primary Government

Component Unit

Library

CITY OF WHEATON

STATEMENT OF ACTIVITIES For the Year Ended April 30, 2012

$

Expenses

7,796,579 20,505,325 10,453,763

97,757 1,965,633

40,819,057

7,486,425 3,574,276 1 ,270,978

12,331,679

$

Charges for Services

2,805,791 2,927,803

66,705

5,800,299

6,077,673 3,749,649

635,318 10,462,640

Program Revenues

Operating Capital Grants and Grants and

Contributions Contributions

$ 178,812 $ 105,800

1,799,146 710,915

1,977,958 816,715

980,000

980,000

$ 53,150,736 $ 16,262,939 $ 1,977,958 $ 1,796,715

$ 3,731,193 $ 229,845 $

General Revenues Taxes

Property Sales Real estate transfer Income and local use Utility taxes Replacement

Investment income Miscellaneous

Total General Revenues Transfers

54,243 =$ ====

Total General Revenues and Transfers

Change in net assets

NET ASSETS - Beginning of Year

NET ASSETS - END OF YEAR


Net (Ex~ensesl Revenues and Changes in Net Assets Primary Government Com~onent Unit

Governmental Business-type Activities Activities Totals Library

$ (4,811,976) $ - $ (4,811,976) $ (17,471,722) (17,471,722)

(7,876,997) (7,876,997) (97,757) (97,757)

(1.965,633) (1,965,633) (32.224,085) (32,224,085)

(1,408,752) (1,408,752) 1,155,373 1,155,373 (635,660) (635,660) (889,039) (889,039)

(32.224.085) (889,039) (33,113,124 )

(3,447,105)

20,043,643 40,108 20,083,751 3,300,000 9,300,068 9,300,068

599,214 599,214 5,104,090 5,104,090 4,829,821 4,829,821

211,349 211,349 108,047 13,730 121,777 13,002 819,081 819,081 79,823

41 ,015,313 53,838 41,069,151 3,392,825 (743,194) 743,194

40,272,119 797,032 41 ,069,151 3,392,825

8,048,034 (92,007) 7,956,027 (54,280)

213,799,185 51 ,112,890 264.912,075 2,089,442

~ 221,847,219 ~ 51,020,883 ~ 272,868,102 $ 2,035,162

See accompanying notes to financial statements . Page 16

CITY OF WHEATON

BALANCE SHEET GOVERNMENTAL FUNDS


General ASSETS

Cash and investments $ 13,288,775 Receivables (net)

Property taxes 12,489,730 Accounts 713,034 Utility taxes 791,635 Notes 54,534

Due from other governments Municipal sales tax 2,403,961 Illinois income tax 1,577,694

Due from other funds 14,069 Advances to other funds 926,652 Prepaid items 19.197

TOTAL ASSETS $ 32,279,281

LIABILITIES AND FUND BALANCES Liabilities

Accounts payable $ 539,353 Contracts payable 10,313 Wages payable 470,010 Retirement deductions payable 171 ,156 Contributions payable 101,591 Deposits payable 808,661 Due to other governments 76,211 Due to other funds Deferred revenues 12,951,799 Advances from other funds

Total Liabilities 15.129.094

Fund Balances (Deficit) Nonspendable for prepaid items 19,197 Nonspendable for long-term receivables 54,534 Nonspendable for advances to other funds 926,652 Restricted for public safety 160,822 Restricted for TIF development Restricted for debt service Restricted for highways and streets Restricted for capital construction and purchases Assigned for compensated absences 2,789,031 Assigned for municipal band 110,432 Assigned for capital construction and purchases Unassigned (deficit) 13,089,519

Total Fund Balances 17,150,187

TOTAL LIABILITIES AND FUND BALANCES $ 32,279,281

See accompanying notes to financial statements.

Tax Increment Financing #2 Debt Service

$ 1,843,283 $ 1,747,374

1,556,855 3,490,709

~ 3,400,138 $ 5,238,083

$ 10,037 $

1,556,855 3,490,709 926,652

2,493,544 3,490,709

906,594 1,747,374

906,594 1,747,374

$ 3,400,138 $ 5,238,083

Page 17

Nonmajor Governmental

Funds Totals

$ 6,496,322 $ 23,375,754

2,102,496 19,639,790 320,699 1,033,733

791,635 54,534

2,403,961 1,577,694

14,069 926,652

19,197

~ 8,919,517 ~ 49,837,019

$ 110,165 $ 659,555 2,366 12,679

470,010 171,156 101 ,591 808,661

76,211 14,069 14,069

2,420,507 20,419,870 926,652

2,547,107 23,660.454

19,197 54,534

926,652 160,822

893,949 1,800,543 1,747,374

1,397,914 1,397,914 4,094,922 4,094,922

2,789,031 110,432

12,431 12,431 (26,806) 13.062.713

6,372.410 26.176.565

~ 8,919,517 $ 49,837,019


CITY OF WHEATON

RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO THE STATEMENT OF NET ASSETS


Total Fund Balances - Governmental Funds

Amounts reported for governmental activities in the statement of net assets are different because:

Capital assets used in governmental funds are not financial resources and therefore are not reported in the funds.

Land and right of way Construction in progress Other capital assets Less: Accumulated depreciation Less: Internal service capital assets, net

Some receivables that are not currently available are reported as deferred revenues in the fund financial statements but are recognized as revenue when earned in the government-wide statements .

Net pension asset is shown as an asset on the statement of net assets.

Internal service funds are reported in the statement of net assets as governmental activities.

Some liabilities, including long-term debt, are not due and payable in the current period and therefore, are not reported in the funds.

Bonds payable Compensated absences Other postemployment benefits Accrued interest Unamortized debt issuance costs Unamortized premium Unamortized loss on refunding Add: Internal service fund long-term liabilities

NET ASSETS OF GOVERNMENTAL ACTIVITIES


$ 26,176,565

160,830,565 3,084,385

176,531,699 (113,243,916)

(4,871,055)

443,217

2,090,614

15,801,868

(41,240,000) (2,829,103)

(171 ,848) (773,133) 296,949

(475,489) 155,829 40,072

$ 221,847,219

Page 19

CITY OF WHEATON

STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES-GOVERNMENTAL FUNDS

For the Year Ended April 30, 2012

Nonmajor Tax Increment Governmental

General Financing #2 Debt Service Funds /

REVENUES Taxes $ 32,736,008 $ 1,587,096 $ 3,575,528 $ 2,189,553 Intergovernmental 371 ,077 1,712,681 Licenses and permits 472,355 Fines, forfeitures and penalties 683,295 Public charges for services 3,138,705 Investment income 69,064 1,338 1,313 4,120 Miscellaneous 329,789 1,004.540

Total Revenues 37,800,293 1 ,588.434 3,576,841 4,910.894

EXPENDITURES Current

General government 5,780,472 150,728 68,499 Public safety 21,319,349 Highways and streets 6,215,442 1,752,278 Culture and recreation 97,757

Capital Outlay 659,273 Debt Service

Principal 3,575,000 Interest 2,000,098

Total Expenditures '33.413,020 150,728 5,575,098 2.480,050

Excess (deficiency) of revenues over expenditures 4,387.273 1 .437,706 (1.998,257) 2.430,844

OTHER FINANCING SOURCES (USES) Sale of city property 3,884 198,022 Transfers in 500,000 2,034,633 500,000 Transfers out (500,000) (743,194) (2,534,633)

Total Other Financing Sources (Uses) (496,116) (45,172) 2,034.633 (2,034,633)

Net Change in Fund Balances 3,891,157 1,392,534 36,376 396,211

FUND BALANCES (DEFICIT) - Beginning of Year 13,259.030 (485,940) 1.710,998 5,976,199

FUND BALANCES - END OF YEAR $ 17,150,187 ~ 906,594 ~ 1,747,374 ~ 6,372,410

See accompanying notes to financial statements . Page 20

Totals

$ 40,088,185 2,083,758

472,355 683,295

3,138,705 75,835

1,334,329 47,876.462

5,999,699 21,319,349

7,967,720 97,757

659,273

3,575,000 2,000,098

41,618.896

6,257.566

201,906 3,034,633

(3,777.827) (541.288)

5,716,278

20.460,287

~ 26,176,565


CITY OF WHEATON

RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS

TO THE STATEMENT OF ACTIVITIES For the Year Ended April 30, 2012

Net change in fund balances - total governmental funds

Amounts reported for governmental activities in the statement of net assets are different because:

Governmental funds report capital outlays as expenditures. However, in the statement of net assets the cost of these assets is capitalized and they are depreciated over their estimated useful lives and reported as depreciation expense in the statement of activities.

Capital outlay is reported as an expenditure in the fund financial statements but is capitalized in the government-wide financial statements

Some items reported as capital outlay were not capitalized Depreciation is reported in the government-wide financial statements Net book value of assets retired

Receivables not currently available are reported as revenue when collected or currently available in the fund financial statements but are recognized as revenue when earned in the government-wide financial statements.

Grant reimbursement Ambulance receivables

Debt issued provides current financial resources to governmental funds, but issuing debt increases long-term liabilities in the statement of net assets. Repayment of debt principal is an expenditure in the governmental funds, but the repayment reduces long-term liabilities in the statement of net assets.

Principal repaid

Governmental funds report debt premiums, discounts and issuance costs as other financing sources (uses) or expenditures. However, in the statement of net assets, these are deferred and reported as other assets or deductions from long-term debt. These are allocated over the period the debt is outstanding in the statement of activities and are reported as interest expense.

Debt issuance costs Loss on refunding Premium

Some expenses in the statement of activities do not require the use of current financial resources and, therefore, are not reported as expenditures in the governmental funds .

Compensated absences Other postemployment benefits Accrued interest on debt

The change in the net pension asset is shown as a reduction of expense in the statement of activities

Internal service funds are used by management to charge costs to individual funds. The change in net assets of the internal service fund reported with governmental activities .

CHANGE IN NET ASSETS OF GOVERNMENTAL ACTIVITIES


$

$

5,716,278

659,273 (177,538)

(4,368,223) (275,543)

130,437 225,206

3,575,000

(35,863) (48,294) 59,277

1,252,941 (38,902) 59,345

66,256

1.248,384

8,048,034

Page 22

CITY OF WHEATON

STATEMENT OF NET ASSETS PROPRIETARY FUNDS


Governmental Business-t~ee Activities - Entererise Funds Activities

Internal Waterworks Sewerage Parking Totals Service Funds

ASSETS Current Assets

Cash and investments $ 2,782,578 $ 3,593,411 $ 2,087,578 $ 8,463,567 $ 10,527,653 Receivables (net)

Property taxes 38,732 38,732 Accounts 838,562 386,170 1,224,732 1,328,448 Other 2,747

Inventories 169,537 Prepaid items 199,922

Total Current Assets 3,621,140 3,979,581 2,126,310 9,727,031 12,228,307 Noncurrent Assets

Capital Assets Land 120,000 53,720 1,748,163 1,921,883 Construction in

progress 6,186 6,186 Other capital assets

being depreciated 37,899,474 62,571,358 12,768,058 113,238,890 14,777,735 Less: Accumulated

depreciation (25,178,864) (39,454,578) (3,938,348) (68,571,790) (9,906,680) Other Assets

Unamortized debt issuance expenses 40,529 40,529

Total Noncurrent Assets 12.840.610 23,176,686 10,618,402 46,635,698 4.871,055

Total Assets 16.461,750 27,156,267 12,744.712 56,362,729 17,099,362

LIABILITIES Current Liabilities

Accounts payable 486,738 109,107 116,973 712,818 160,035 Contracts payable 116,063 52,490 168,553 Wages payable 26,007 25,715 2,211 53,933 16,176 Accrued interest 70,898 70,898 Deposits payable 146,845 146,845 Unearned revenues 38,732 38,732 Claims payable 47,886 Compensated absences

payable 85,628 64,815 1,796 152,239 31,287 Current portion of

general obligation bonds payable 625,000 625,000

Current portion of unamortized bond premium 8,814 8,814

Total Current Liabilities 861.281 252.127 864.424 1,977,832 255,384


Governmental Business-t~~e Activities - Enter~rise Funds Activities

Internal Service Waterworks Sewerage Parking Totals Funds

LIABILITIES (cont.) Noncurrent Liabilities

Long-Term Debt Compensated

absences payable $ - $ 48,833 $ 6,049 $ 54,882 $ 8,785 Other

postemployment benefits payable 6,329 5,484 1,277 13,090

Unamortized bond premium 35,254 35,254

General obligation bonds payable 3,500,000 3,500,000

Claims payable 794,113 Total Noncurrent

Liabilities 6,329 54,317 3,542,580 3,603,226 802,898

Total Liabilities 867,610 306,444 4,407,004 5.581.058 1,058.282

NET ASSETS Invested in capital assets ,

net of related debt 12,840,610 23,176,686 6,449,334 42,466,630 4,871 ,055 Unrestricted 2.753.530 3,673,137 1,888,374 8.315.041 11.170.025

TOTAL NET ASSETS $ 15,594,140 ~ 26,849,823 ~ 8,337,708 50,781,671 ~ 16,041,080

Amounts reported for business-type activities in the Statement of Net Assets are different because:

Internal Service Fund net assets allocated to the business-type activities 239,212

NET ASSETS OF BUSINESS-TYPE ACTIVITIES ~ 51,020,883


CITY OF WHEATON

STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET ASSETS PROPRIETARY FUNDS


Governmental Business-t~~e Activities - Enter~rise Funds Activities

Internal Waterworks Sewerage Parking Totals Service Funds

OPERATING REVENUES Charges for services $ 5,994,754 $ 3,743,799 $ 635,318 $ 10,373,871 $ 8,900,126 Miscellaneous revenues 82.919 5,850 88,769 98,642

Total Operating Revenues 6,077.673 3.749,649 635,318 10.462,640 8,998,768

OPERATING EXPENSES Administration 812,448 578,592 1,391 ,040 Operations 5,913,570 2,016,653 661,336 8,591 ,559 6,876,810 Depreciation 855,022 1,107,080 443,507 2,405,609 967,378

Total Operating Expenses 7,581,040 3,702,325 1,104,843 12,388,208 7,844,188

Operating Income (Loss) (1 ,503.367) 47,324 (469,525) (1 ,925,568) 1.154.580

NONOPERATING REVENUES (EXPENSES)

Property tax 40,108 40,108 Investment income 1,329 2,394 10,007 13,730 32,212 Sale of capital assets 17,579 Interest expense (183,391 ) (183,391 ) Amortization of bond

issuance costs and premium 708 708

Grant income 24,855 Miscellaneous revenues 125,372

Total Nonoperating Revenues (Expenses) 1.329 2.394 (132,568) (128.845) 200,018

Income (Loss) Before Contributions and Transfers (1,502,038) 49,718 (602,093) (2,054,413) 1,354,598


Business-type Activities - Enterprise Funds

Waterworks Sewerage Parking

CONTRIBUTIONS AND TRANSFERS

Capital contributions $ - $ 980,000 $ -Transfers in 743,194

Total Contributions and Transfers 980.000 743,194

Change in Net Assets (1,502,038) 1,029,718 141,101

NET ASSETS - Beginning of Year 17,096.178 25,820,105 8,196,607

NET ASSETS - END OF YEAR ~ 15,594,140 ~ 26,849,823 $ 8,337,708

Internal service funds change in net assets allocated to the business-type activities

CHANGE IN NET ASSETS BUSINESS-TYPE ACTIVITIES


Totals

$ 980,000 743,194

1,723,194

(331,219)

239,212

$ (92,007)


Internal Service Funds

$ 132,998

132,998

1,487,596

14,553,484

$ 16,041,080

Page 26

CITY OF WHEATON

STATEMENT OF CASH FLOWS PROPRIETARY FUNDS


Governmental Business-t:z::ee Activities - Entererise Funds Activities

Internal Service

Waterworks Sewerage Parking Totals Funds CASH FLOWS FROM OPERATING ACTIVITIES

Received from customers $ 6,206,107 $ 4,121,346 $ 637,075 $ 10,964,528 $ 8,979,989 Paid to suppliers for goods and

services (5,638,616) (1,966,675) (471 ,570) (8,076,861 ) (6,483,530) Paid to employees for services (1,063,094) (1,045,245) (82,440) (2 ,190,779) (771,515)

Net Cash Flows From Operating Activities (495,603) 1.109,426 83,065 696,888 1,724,944

CASH FLOWS FROM INVESTING ACTIVITIES

Investments sold and matured 250,228 694,657 944,885 1,882,997 Investment income 1,329 2,394 10,007 13,730 36,179

Net Cash Flows From Investing Activities 1,329 252,622 704,664 958,615 1,919,176

CASH FLOWS FROM NONCAPIT AL FINANCING ACTIVITIES

Transfers from other funds 743,194 743,194 Property taxes received 39,133 39,133

Net Cash Flows From Noncapital Financing Activities 782,327 782,327

CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES

Debt retired (550,000) (550,000) Interest paid (192,844) (192,844) Acquisition and construction of

capital assets (1,091,606) (1,047,682) (2,139,288) (710,965) Proceeds from sale of capital

asset 59,751 Grants received 24,855

Net Cash Flows From Capital and Related Financing Activities (1,091,606) (1 ,047.682) (742.844) (2,882,132) (626,359)

Net Change in Cash and Cash Equivalents (1,585,880) 314,366 827,212 (444,302) 3,017,761

CASH AND CASH EQUIVALENTS - Beginning of Year 4,368,458 3,279,045 1,260,366 8.907.869 7.509.892

CASH AND CASH EQUIVALENTS - END OF YEAR $ 2,782,578 ~ 3,593,411 $ 2,087,578 $ 8,463,567 $ 10,527,653


Governmental Business-ti::Qe Activities - EnterQrise Funds Activities

Internal Service

Waterworks Sewerage Parking Totals Funds RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH FLOWS FROM OPERATING ACTIVITIES

Operating income (loss) $ (1,503,367) $ 47,324 $ (469,525) $ (1,925,568) $ 1,154,580 Nonoperating revenues 125,372 Adjustments to Reconcile

Operating Income (Loss) to Net Cash Flows From Operating Activities

Depreciation 855,022 1,107,080 443,507 2,405,609 967,378 Changes in assets and

liabilities Accounts receivable 121,550 371,697 1,757 495,004 (144,151) Prepaid items (65,478) Inventory 17,490 Accounts payable 45,755 (316,474) 99,763 (170,956) (1,867) Accrued wages 7,365 6,064 27 13,456 3,674 Contracts payable 109,880 (25,786) 84,094 Claims payable (187,344) Com pensated absences (138,961 ) (80,493) 6,987 (212,467) (144,710) Deposits 6,884 6,884 OPES 269 14 549 832

NET CASH FLOWS FROM OPERATING ACTIVITIES $ (495,603) $ 1,109.426 $ 83,065 $ 696,888 $ 1 ,724,944

RECONCILIATION OF CASH AND CASH EQUIVALENTS TO THE STATEMENT OF NET ASSETS - PROPRIETARY FUNDS

Cash and investments -statement of net assets ~ 2,782,578 ~ 3,593,411 ~ 2,087,578 ~ 8,463,567 ~ 10,527,653

Total Cash and Investments $ 2,782,578 $ 3,593.411 $ 2,087,578 $ 8.463,567 $ 10,527,653

NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES

Amortization of bond issuance costs and bond premiums ~ - ~ - ~ 708 ~ 708 $

Contributed capital assets ~ - ~ mm,mm ~ - ~ m:m,mm ~ ~~2,m:m


ASSETS

CITY OF WHEATON

STATEMENT OF FIDUCIARY NET ASSETS FIDUCIARY FUNDS As of April 30, 2012

Cash and short-term investments Investments

U.S. treasuries U.S. agencies Government bonds Pooled investment account Mutual funds Stocks Annuities

Receivables Accrued interest

Prepaid items Total Assets

LIABILITIES Accounts payable

Total Liabilities

NET ASSETS Held in trust for pension benefits

See accompanying notes to financial statements .

Pension Trusts

$ 1,146,222

10,067,593 9,069,238

301,650 6,559,604 8,389,353

23,146,206 1,627,078

171,466 15,917

60.494.327

45.131 45,131

$ 60,449,196

Page 29

CITY OF WHEATON

STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS FIDUCIARY FUNDS


ADDITIONS Contributions

Employer Employee

Total Contributions

Investment income Investment income Net appreciation in fair value of investments

Total Investment Income Less: Investment expense

Net Investment Income Total Additions

DEDUCTIONS Adm inistration Benefits and refunded contributions

Total Deductions




See accompanying notes to financial statements .

Pension Trusts

$ 2,861 ,678 91 8,712

3,780,390

1,339,462 2,432,101 3,771,563 (237,324)

3,534,239 7,314,629

69,549 3,243,653 3,313,202

4,001,427

56,447,769

$ 60,449,1 96

Page 30

NOTE

CITY OF WHEATON

INDEX TO NOTES TO FINANCIAL STATEMENTS As of and For the Year Ended April 30, 2012

Summary of Significant Accounting Policies A. Reporting Entity B. Government-Wide and Fund Financial Statements C. Measurement Focus, Basis of Accounting, and Financial Statement

Presentation D. Assets, Liabilities, and Net Assets or Equity

1. Deposits and Investments 2. Receivables 3. Inventories and Prepaid Items 4. Capital Assets 5. Other Assets 6. Compensated Absences 7. Long-Term Obligations/Conduit Debt 8. Claims and Judgments 9. Equity Classifications

Page

32 32 33

37 38 38 41 41 42 43 43 43 44 44

II Stewardship, Compliance, and Accountability 46 A. Budgetary Information 46 B. Deficit Balances 46

III Detailed Notes on All Funds 46 A. Deposits and Investments 46 B. Receivables 50 C. Capital Assets 51 D. Interfund Receivables/Payables, Advances and Transfers 53 E. Long-Term Obligations 56 F. Component Unit 59

IV Other Information 61 A. Employees' Retirement System 61 B. Risk Management 68 C. Commitments and Contingencies 70 D. Other Postemployment Benefits 72 E. Subsequent Events 74 F. Effect of New Accounting Standards on Current-Period Financial Statements 75

Page 31

CITY OF WHEATON

NOTES TO FINANCIAL STATEMENTS As of and For the Year Ended April 30, 2012

NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The City of Wheaton, Illinois (the city) was incorporated in 1859. The city is a home-rule municipality, under the 1970 Illinois Constitution, located in DuPage County, Illinois . The city operates under a CouncilManager form of government and provides the following services as authorized by its charter: public safety (police and fire protection), highways and streets, water and sanitation , social , and cultural services, public improvements, planning and zoning, general administrative services and police and fire pension.

The accounting policies of the city, conform to accounting principles generally accepted in the United States of America as applicable to governmental units. The accepted standard-setting body for establishing governmental accounting and financial reporting principles is the Governmental Accounting Standards Board (GASB).

A. REPORTING ENTITY

This report includes all of the funds of the city. The reporting entity for the city consists of (a) the primary government, (b) organizations for which the primary government is financially accountable, and (c) other organizations for which the nature and significance of their relationship with the primary government are such that their exclusion would cause the reporting entity's financial statements to be misleading or incomplete. A legally separate organization should be reported as a component unit if the elected officials of the primary government are financially accountable for the organization. The primary government is financially accountable if it appoints a voting majority of the organization's governing body and (1) it is able to impose its will on that organization or (2) there is a potential for the organization to provide specific financial benefits to or burdens on the primary government. The primary government may be financially accountable if an organization is fiscally dependent on the primary government.

A legally separate, tax exempt organization should be reported as a component unit of a reporting entity if all of the following criteria are met: (1) The economic resources received or held by the separate organization are entirely or almost entirely for the direct benefit of the primary government, its component units, or its constituents; (2) The primary government is entitled to, or has the ability to otherwise access, a majority of the economic resources received or held by the separate organization; (3) The economic resources received or held by an individual organization that the specific primary government, or its component units, is entitled to, or has the ability to otherwise access, are significant to that primary government. Blended component units, although legally separate entities, are, in substance, part of the government's operations and are reported with similar funds of the primary government. The discretely presented component unit is reported in a separate column in the government-wide financial statements (see note below for description) to emphasize that it is legally separate from the primary government.

Page 32

CITY OF WHEATON


NOTE I - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)

A. REPORTING ENTITY (cont.)

Blended Component Units

The Police Pension Employees Retirement System (PPERS) is established for the city's sworn police employees. PPERS functions for the benefit of these employees and is governed by a five-member pension board. Two members appointed by the city's Mayor, one pension beneficiary elected by the membership, and two police employees elected by the membership constitute the pension board. The city and the PPERS participants are obligated to fund all PPERS costs based upon actuarial valuations . The State of Illinois is authorized to establish benefit levels and the city is authorized to approve the actuarial assumptions used in the determination of contribution levels. Although it possesses many characteristics of a legally separate government, PPERS is reported as if it were part of the primary government because its sole purpose is to finance and administer the pensions of the city's police employees and because of the fiduciary nature of such activities. PPERS is reported as a pension trust fund. No separate annual financial report is issued for the PPERS.

The Firefighters' Pension Employees Retirement System (FPERS) is established for the city's sworn firefighters . FPERS functions for the benefit of these employees and is governed by a five-member pension board. Two members are apPointed by the city's mayor, one pension beneficiary elected by the membership; and two fire employees elected by the membership constitute the pension board. The city and the FPERS participants are obligated to fund all FPERS costs based upon actuarial valuations. The State of Illinois is authorized to establish benefit levels and the city is authorized to approve the actuarial assumptions used in the determination of contribution levels. Although it possesses many of the characteristics of a legally separate government, FPERS is reported as if it were part of the primary government because its sole purpose is to finance and administer the pensions of the city's firefighters and because of the fiduciary nature of such activities. FPERS is reported as a pension trust fund. No separate annual financial report is issued for the FPERS.

Discretely Presented Component Unit

Wheaton Public Library

The government-wide financial statements include the Wheaton Public Library (library) as a component unit. The library is a legally separate entity. The board of the library is apPointed by the City Council allowing the city to impose its will. As a component unit, the library's financial statements have been discretely presented in the financial statements. The information presented is for the fiscal year ended April 30, 2012. The library does not issue separate financial statements.

B. GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS

In February 2009, the GASB issued statement No. 54 - Fund Balance Reporting and Governmental Fund Type Definitions. This statement establishes fund balance classifications based primarily on the extent to which the government is bound to honor constraints on the use of the resources reported in each governmental fund as well as establishes additional note disclosures regarding fund balance classification policies and procedures.

Page 33

CITY OF WHEATON


NOTE 1- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)

B. GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS (cont.)

The city made the decision to implement this standard effective May 1, 2011 .


The statement of net assets and statement of activities display information about the reporting government as a whole. They include all funds of the reporting entity except for fiduciary funds . The statements distinguish between governmental and business-type activities. Governmental activities generally are financed through taxes, intergovernmental revenues, and other nonexchange revenues . Business-type activities are financed in whole or in part by fees charged to external parties for goods or services. Likewise, the primary government is reported separately from certain legally separate component units for which the primary government is financially accountable.

The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. The city does not allocate indirect expenses to functions in the statement of activities. 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 contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not included among program revenues are reported as general revenues. Internally dedicated resources are reported as general revenues rather than as program revenues .


Financial statements of the reporting entity are organized into funds, each of which is considered to be a separate accounting entity. Each fund is accounted for by providing a separate set of self-balancing accounts , which constitute its assets, liabilities, net assets/fund equity, revenues , and expend iture/expenses.

Page 34

CITY OF WHEATON




Fund Financial Statements (cont.)

Funds are organized as major funds or nonmajor funds within the governmental and proprietary statements. An emphasis is placed on major funds within the governmental and proprietary categories . A fund is considered major if it is the primary operating fund of the city or meets the following criteria:

a. Total assets, liabilities, revenues, or expenditures/expenses of that individual governmental or enterprise fund are at least 10% of the corresponding total for all funds of that category or type, and

b. The same element of the individual governmental or enterprise fund that met the 10% test is at least 5% of the corresponding total for all governmental and enterprise funds combined.

c. In addition, any other governmental or enterprise fund that the city believes is particularly important to financial statement users may be reported as a major fund.

Separate financial statements are provided for governmental funds and proprietary funds, and fiduciary funds, even though the latter are excluded from the government-wide financial statements. Major individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements.

The city reports the following major governmental funds :

General Fund - accounts for the city's primary operating activities . It is used to account for and report all financial resources except those accounted for and reported in another fund.

Tax Increment Financing #2 Fund - accounts for and report financial resources that are restricted, committed, or assigned to expenditures associated with the Main Street Redevelopment Project. Financing is provided from incremental real estate tax revenues derived from the project area.

Debt Service Fund - accounts for and report financial resources that are restricted, committed, or assigned to expenditure for the payment of general long-term debt principal, interest, and related costs , other than TIF or enterprise debt.

The city reports the following major enterprise funds :

Waterworks Fund - accounts for operations of the waterworks system. Sewerage Fund - accounts for operations of the sewerage system. Parking Revenue Fund - accounts for operations of the public parking services. All activities are

accounted for in this fund, including, but not limited to, administration, operations, capital construction, finanCing and revenue collection .

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The city reports the following nonmajor governmental funds :

Special Revenue Funds - used to account for and report the proceeds of specific revenue sources that are restricted or committed to expenditures for specified purposes (other than debt service or capital projects).

Motor Fuel Tax Fund Tax Increment Financing #1 Fund Tax Increment Financing #3 Fund

Capital Projects Fund - used to account for and report financial resources that are restricted, committed, or assigned to expenditure for capital outlays, including the acquisition or construction of capital facilities and other capital assets.

2010 General Obligation Bond Fund

In addition, the city reports the following fund types :

Internal service funds are used to account for and report the financing of goods or services provided by one department or agency to other departments or agencies of the city, or to other governmental units, on a cost-reimbursement basis .

Municipal Garage Fund Capital Equipment Replacement Fund Liability Insurance Fund Health Insurance Fund

Pension (and other employee benefit) trust funds are used to account for and report resources that are required to be held in trust for the members and beneficiaries of defined benefit pension plans, defined contribution plans, other postemployment benefit plans, or other employee benefit plans.

Police Pension Fund Firefighters' Pension Fund

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C. MEASUREMENT Focus, BASIS OF ACCOUNTING, AND FINANCIAL STATEMENT PRESENTATION


The government-wide statement of net assets and statement of activities are reported using the economic resources measurement focus and the accrual basis of accounting. Under the accrual basis of accounting, revenues are recognized when earned and expenses are recorded when the liability is incurred or economic asset used. Revenues, expenses, gains, losses, assets, and liabilities resulting from exchange and exchange-like transactions are recognized when the exchange takes place. Property taxes are recognized as revenues in the year for which they are levied. Taxes receivable for the following year are recorded as receivables and unearned revenue. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider are met. Special assessments are recorded as revenue when earned. Unbilled receivables are recorded as revenues when services are provided .

The business-type activities follow all pronouncements of the Governmental Accounting Standards Board, and have elected not to follow Financial Accounting Standards Board guidance issued after November 30, 1989.

As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements. Exceptions to this general rule are charges between the city's waterworks, sewerage, and parking revenue funds and various other functions of the government. Elimination of these charges would distort the direct costs and program revenues reported for the various functions concerned.


Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recorded when they are both measurable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. For this purpose, the city considers revenues to be available if they are collected within 60 days of the end of the current fiscal period except for sales taxes, telecommunication taxes, and cable franchise fees, for which available is defined as 90 days. In addition, state income taxes received after 60 days will be considered available, as the state being greater than 60 days behind on payments for income taxes to local governments is considered to be a highly unusual circumstance. Expenditures are recorded when the related fund liability is incurred, except for unmatured interest on long-term debt, claims, judgments, compensated absences, and pensio-n expenditures, which are recorded as a fund liability when expected to be paid with expendable available financial resources .

Property taxes are recorded in the year levied as receivables and deferred revenues. They are recognized as revenues in the succeeding year when services financed by the levy are being provided.

Intergovernmental aids and grants are recognized as revenues in the period the city is entitled the resources and the amounts are available. Amounts owed to the city which are not available are recorded as receivables and deferred revenues. Amounts received prior to the entitlement period are also recorded as deferred revenues .

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C. MEASUREMENT Focus, BASIS OF ACCOUNTING, AND FINANCIAL STATEMENT PRESENTATION (cont.)


Revenues susceptible to accrual include property taxes, miscellaneous taxes, public charges for services and interest. Other general revenues such as fines and forfeitures, inspection fees, and miscellaneous revenues are recognized when received in cash or when measurable and available under the criteria described above.

The city reports deferred revenues on its governmental funds balance sheet. Deferred revenues arise from taxes levied in the current year which are for subsequent year's operations. For governmental fund financial statements, deferred revenues arise when a potential revenue does not meet both the "measurable" and "available" criteria for recognition in the current period. Deferred revenues also arise when resources are received before the city has a legal claim to them, as when grant monies are received prior to the incurrence of qualifying expenditures. In subsequent periods, when both revenue recognition criteria are met, or when the city has a legal claim to the resources, the liability for deferred revenue is removed from the balance sheet and revenue is recognized.

Proprietary and fiduciary fund financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as described previously in this note.

The enterprise funds follow all pronouncements of the Governmental Accounting Standards Board, and have elected not to follow Financial Accounting Standards Board guidance issued after November 30, 1989. The proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the waterworks, sewerage, and parking revenue funds are charges to customers for sales and services. Special assessments are recorded as receivables and contribution revenue when levied. Operating expenses for proprietary funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses.

All Financial Statements

The preparation of financial statements in conform ity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenditures/expenses during the reporting period. Actual results could differ from those estimates.

D. ASSETS, LIABILITIES, AND NET ASSETS OR EQUITY

1. Deposits and Investments

For purposes of the statement of cash flows, the city considers all highly liquid investments with an initial maturity of three months or less when acquired to be cash equivalents.

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D. ASSETS, LIABILITIES, AND NET ASSETS OR EQUITY (cont.)

1. Deposits and Investments (cont.)

Illinois Statutes authorize the city and the library to make deposits/investments in insured commercial banks, savings and loan institutions, obligations of the U.S. Treasury and U.S. Agencies, insured credit union shares, money market mutual funds with portfolios of securities issued or guaranteed by the United States or agreement to repurchase these same obligations, repurchase agreements, short-term commercial paper rated within the three highest classifications by at least two standard rating services, and the Illinois Funds Investment Pool. The city's investment policy does limit their deposits to financial institutions that are members of the FDIC system and are capable of posting collateral for amounts in excess of FDIC insurance.

Pension funds may also invest in certain non-U.S. obligations, Illinois municipal corporations tax anticipation warrants , veteran 's loans, obligations of the State of Illinois and its political subdivisions, and the Illinois insurance company general and separate accounts, mutual funds and equity securities. The police pension fund 's investment policy allows investments in all of the above listed accounts, but does exclude any repurchase agreements . The firefighters pension fund allows funds to be invested in any type of security authorized by the Illinois Pension Code. The firefighters' pension fund's investment policy does limit their deposits to financial institutions that are members of the FDIC system and are capable of posting collateral for amounts in excess of FDIC insurance. Additionally, the firefighters' pension fund will not invest in any of the following : letter stock and other unregistered securities, commodities, short sales or margin transactions, securities lending pledging or hypothecating securities , investments in the equity securities of any company with a record of less than three years of continuous operation, investments for the purpose of exercising control of management, international stocks and real estate investment trust individual holdings.

Interest Rate Risk

It is the policy of the city, library, police pension and firefighters' pension to invest its funds in a manner that will provide the highest investment return with the maximum security while meeting the daily cash flow demands of the city and conforming to all state and local statutes governing the investment of public funds, using the "prudent person" standard for managing the overall portfolio. The primary objectives of the policy are, in order of priority, safety of principal , liquidity, and rate of return.

Credit Risk

State Statutes limit the investments in commercial paper to the top three ratings of two nationally recognized statistical rating organizations (NRSRO's) . The city's, library's and pensions' investment policy authorizes investments in any type of security allowed for in Illinois statutes regarding the investment of public funds.

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Concentration of Credit Risk

The city's, library's, police pension's, and firefighters' pension's investment policies require diversification of the investment portfolio to avoid unreasonable risk of loss resulting from over-concentration in a particular type of security, risk factor, issuer, or maturity.

Custodial Credit Risk - Deposits

The city's and library's investment policy limits the exposure to deposit custodial credit risk by requiring all deposits in excess of FDIC insurable limits to be secured with collateralization pledged by the applicable financial institution to the extent of 102% of the fair market value of the funds secured, with the collateral to be held by the city, and independent third party or the Federal Reserve Bank of New York. The police pension's investment policy does not require pledging of collateral for its deposits in excess of federal depository insurance. The firefighters' pension's investment policy limits exposure to deposit custodial credit risk by requiring deposits in excess of FDIC insurable limits to be collateralized for an amount not less than 110% of the fair market value of the funds secured.

Custodial Credit Risk - Investments

The city's, library's, and firefighters' pension's investment policies require all investments to be limited to investments with pre-qualified institutions, broker/dealers, intermediaries, and advisors and are soundly diversified. The police pension's investment policy seeks to minimize this risk by following delivery versus payment (DVP) of securities and through the use of SIPC insurance and other excess coverage.

Investments are stated at fair value, which is the amount at which an investment could be exchanged in a current transaction between willing parties. Fair values are based on quoted market prices. No investments are reported at amortized cost. Adjustments necessary to record investments at fair value are recorded in the operating statement as increases or decreases in investment income. Investment income on commingled investments of municipal accounting funds is allocated based on average balances. The difference between the bank statement balance and carrying value is due to outstanding checks and/or deposits in transit.

Illinois Funds is an investment pool managed by the State of Illinois, Office of the Treasurer, which allows governments within the State to pool their funds for investment purposes. Illinois Funds is not registered with the SEC as an investment company, but does operate in a manner consistent with Rule 2a7 of the Investment Company Act of 1940. Investments in Illinois Funds are valued at Illinois Fund's share price, the price for which the investments could be sold.

Illinois Metropolitan Investment Fund (IMET) 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 SEC as an investment company. Investments in IMET are valued at IMET's share price, the price for which the investment could be sold.

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See Note III. A. for further information.

2. Receivables

Property taxes for levy year 2011 attaches as an enforceable lien on January 1, 2011, on property values assessed as of the same date. Taxes are levied by December following the lien date (by passage of a Tax Levy Ordinance). The 2012 tax levy, which attached as an enforceable lien on the property as of January 1, 2012, has not been recorded as a receivable as of April 30, 2012, as the tax has not yet been levied by the city and will not be levied until December 2012, and therefore, the levy is not measurable at April 30, 2012.

Tax bills for levy year 2012 are prepared by DuPage County and issued on or about May 1, 2012 and are payable in two installments, on or about June 1, 2012 and September 1, 2012 or within 30 days of the tax bills being issued.

The county collects such taxes and remits them periodically. The 2011 property tax levy is recognized as a receivable and deferral in fiscal year 2012, net the allowance for uncollectible. As the taxes become available to finance current expenditures, they are recognized as revenues. At April 30,2012, the property taxes receivable and deferred tax revenue consisted of the estimated amount collectible from the 2011 levy.

The property tax receivable is shown net of an allowance for uncollectibles. The allowance is equal to 1 % ($146,900) of outstanding property taxes at April 30, 2012.

Ambulance receivables are also shown net of an allowance for doubtful accounts in the amount of $96,517.

During the course of operations, transactions occur between individual funds that may result in amounts owed between funds. Short-term interfund loans are reported as "due to and from other funds." Long-term interfund loans (noncurrent portion) are reported as "advances from and to other funds." Interfund receivables and payables between funds within governmental activities are eliminated in the statement of net assets. Any residual balances outstanding between the governmental activities and business-type activities are reported in the governmental-wide financial statements as internal balances.

In the governmental fund financial statements, advances to other funds are offset equally by a fund balance reserve account which indicates that they do not constitute expendable available financial resources and, therefore, are not available for appropriation.

3. Inventories and Prepaid Items

Governmental fund inventories, if material, are recorded at cost based on the FIFO method using the consumption method of accounting.

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D. ASSETS, LiABILITIES, AND NET ASSETS OR EQUITY (cont.)

3. Inventories and Prepaid Items (cont.)

Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements.

4. Capital Assets

Government-Wide Statements

Capital assets, which include property, plant and equipment, are reported in the government-wide financial statements. Capital assets are defined by the government as assets with an initial cost of more than $5,000 for general capital assets and $25,000 for infrastructure assets, and an estimated useful life in excess of 1 year. All capital assets are valued at historical cost, or estimated historical cost if actual amounts are unavailable. Donated capital assets are recorded at their estimated fair value at the date of donation.

Additions to and replacements of capital assets of business-type activities are recorded at original cost, which includes material , labor, overhead, and an allowance for the cost of funds used during construction when significant. For tax-exempt debt, the amount of interest capitalized equals the interest expense incurred during construction netted against any interest revenue from temporary investment of borrowed fund proceeds. No interest was capitalized during the current year. The cost of renewals and betterments relating to retirement units is added to plant accounts. The cost of property replaced, retired or otherwise disposed of, is deducted from plant accounts and, generally, together with removal costs less salvage, is charged to accumulated depreciation.

Depreciation and amortization of all exhaustible capital assets is recorded as an allocated expense in the statement of activities, with accumulated depreciation and amortization reflected in the statement of net assets. Depreciation and amortization is provided over the assets' estimated useful lives using the straight-line method. The range of estimated useful lives by type of asset is as follows:

Buildings Machinery and Equipment Infrastructure


30 Years 5-10 Years

40 Years

In the fund financial statements, capital assets used in governmental fund operations are accounted for as capital outlay expenditures of the governmental fund upon acquisition . Capital assets used in proprietary fund operations are accounted for the same way as in the government-wide statements.

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5. Other Assets

In governmental funds, debt issuance costs are recognized as expenditures in the current period. For the government-wide and the proprietary fund type financial statements, debt issuance costs are deferred and amortized over the term of the debt issue.

6. Compensated Absences

Under terms of employment, employees are granted sick leave, vacations , and compensatory time in varying amounts. Only benefits considered to be vested are disclosed in these statements.

All vested vacation and sick leave pay is accrued when incurred in the government-wide and proprietary fund financial statements. A liability for these amounts is reported in governmental funds only if they have matured, for example, as a result of employee resignations and retirements, and are payable with expendable resources.

Payments for vacation and sick leave will be made at rates in effect when the benefits are used. Accumulated vacation and sick leave liabilities at April 30, 2012, are determined on the basis of current salary rates and include salary related payments.

7. Long-Term Obligations/Conduit Debt

All long-term obligations to be repaid from governmental and business-type resources are reported as liabilities in the government-wide statements. The long-term obligations consist primarily of notes and bonds payable and accrued compensated absences.

Long-term obligations for governmental funds are not reported as liabilities in the fund financial statements. The face value of debts (plus any premiums) are reported as other financing sources and payments of principal and interest are reported as expenditures. The accounting in proprietary funds is the same as it is in the government-wide statements.

For the government-wide statements and proprietary fund statements, bond premiums and discounts are deferred and amortized over the life of the issue using the effective interest method. Gains or losses on prior refundings are amortized over the remaining life of the old debt, or the life of the new debt, whichever is shorter. The balance at year end for both premiums/discounts and gains!losses, as applicable, is shown as an increase or decrease in the liability section of the statement of net assets.

The city may approve the issuance of industrial revenue bonds (IRB) for the benefit of private business enterprises. IRB's are secured by mortgages or revenue agreements on the associated projects, and do not constitute indebtedness of the city. Accordingly, the bonds are not reported as liabilities in the accompanying financial statements . There were no IRB's outstanding at year end.

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8. Claims and Judgments

Claims and judgments are recorded as liabilities if all the conditions of Governmental Accounting Standards Board pronouncements are met. The liability and expenditure for claims and judgments are only reported in governmental funds if it has matured. Claims and judgments are recorded in the government-wide statements and proprietary funds as expenses when the related liabilities are incurred. Refer to Note IV. C. on commitments and contingencies.

9. Equity Classifications

Government-Wide Statements

Equity is classified as net assets and displayed in three components :

a. Invested in capital assets, net of related debt - Consists of capital assets including restricted capital assets, net of accumulated depreciation and reduced by the outstanding balances (excluding unspent debt proceeds) of any bonds, mortgages, notes, or other borrowings that are attributable to the acquisition, construction, or improvement of those assets.

b. Restricted net assets - Consists of net assets with constraints placed on their use either by 1) external groups such as creditors, grantors, contributors, or laws or regulations of other governments or, 2) law through constitutional provisions or enabling legislation.

c. Unrestricted net assets - All other net assets that do not meet the definitions of "restricted" or "invested in capital assets, net of related debt."

When both restricted and unrestricted resources are available for use, it is the city's policy to use restricted resources first, then unrestricted resources as they are needed .

Fund Statements

Governmental fund equity is classified as fund balance. In accordance with Governmental Accounting Standards Board Statement No. 54 - Fund Balance Reporting and Governmental Fund Type Definitions, the city classifies governmental fund balance as follows:

a. Nonspendable - Includes fund balance amounts that cannot be spent either because they are not in spendable form or because legal or contractual requirements require them to be maintained intact.

b. Restricted - Consists of fund balances with constraints placed on their use either by 1) external groups such as creditors, grantors, contributors, or laws or regulations of other governments or 2) law through constitutional provisions or enabling legislation.

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D. ASSETS, LiABILITIES, AND NET ASSETS OR EQUITY (cont.)

9. Equity Classifications (cont.)

Fund Statements (cont.)

c. Committed - Includes fund balance amounts that are constrained for specific purposes that are internally imposed by the government through formal action of the highest level of decision making authority. Fund balance amounts are committed through a formal action (ordinance, resolution, motion) of the city. This formal action must occur prior to the end of the reporting period, but the amount of the commitment, which will be subject to the constraints, may be determined in the subsequent period . Any changes to the constraints imposed require the same formal action of the city that originally created the commitment.

d. Assigned - Includes spendable fund balance amounts that are intended to be used for specific purposes that are not considered restricted or committed. Fund balance may be assigned through the following; 1) The city has adopted a financial policy authorizing the City Manager to assign amounts for a specific purpose. 2) All remaining positive spendable amounts in governmental funds, other than the general fund, that are neither restricted nor committed. Assignments may take place after the end of the reporting period.

e. Unassigned - Includes residual positive fund balance within the general fund which has not been classified within the other above mentioned categories. Unassigned fund balance may also include negative balances for any governmental fund if expenditures exceed amounts restricted , committed, or assigned for those purposes.

The city considers restricted amounts to be spent first when both restricted and unrestricted fund balance is available unless there are legal documents / contracts that prohibit doing this, such as in grant agreements requiring dollar for dollar spending. Additionally, the city would first use committed, then assigned and lastly unassigned amounts of unrestricted fund balance when expenditures are made.

The city has a formal minimum fund balance policy. That policy is to maintain total fund balance level in the General Fund equal to 40% of annual operating expenditures excluding capital improvements. At April 30, 2012, the city's General Fund fund balance was $17,150,187 or 49.8% of the city's 2012 General Fund operating expenditures (excluding capital improvements).

Proprietary fund equity is classified the same as in the government-wide statements.

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NOTE 11- STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY

A. BUDGETARY INFORMATION

Annual budgets are adopted on a basis consistent with generally accepted accounting principles for all governmental funds. The budget is as amended by the City Council. All annual appropriations lapse at fiscal year end.

Prior to April 30, the City Finance Director submits to the City Council a proposed operating budget for the fiscal year commencing May 1. The operating budget includes proposed expenditures and the means of financing them. Public hearings are conducted to obtain taxpayer comments . Prior to May 1, the budget is legally enacted through passage of an ordinance. Formal budgetary integration is employed as a management control device during the year for all city funds.

The city is authorized to change budgeted amounts within any fund; however, revision must be approved by two-thirds of the members of the City Council. No revisions can be made increasing the budget unless funding is available for the purpose of the revision. The legal level of budgetary control (i.e., the level at which expenditures may not legally exceed appropriations) is the fund level. The appropriated budget is prepared by fund, function, and activity. The City Council must approve all revisions that alter the budgeted expenditures of any fund.

B. DEFICIT BALANCES

Generally accepted accounting principles require disclosure of individual funds that have deficit balances at year end.

As of April 30, 2012, the following individual funds held a deficit balance:

Fund Amount Reason

Tax Increment Financing #3 $ 26,806 Expenditures exceeding revenues

The TIF #3 district deficit is anticipated to be funded with future incremental taxes levied over the life of the district.

NOTE 111- DETAILED NOTES ON ALL FUNDS

A. DEPOSITS AND INVESTMENTS

The city maintains a cash and investment pool that is available for use by all funds. Each fund type's portion of this pool is displayed on the statement of net assets and balance sheet as cash and investments .

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NOTE 111- DETAILED NOTES ON ALL FUNDS (cont.)

A. DEPOSITS AND INVESTMENTS (cont.)

The city's deposits and investments at year end were comprised of the following:

Carrying Statement Value Balances

Deposits $ 6,982,070 $ 7,023,715 Illinois Funds 19,760,823 19,760,823 Illinois Metropolitan Investment Fund 15,622,831 15,622,831 Petty cash 1,250

Total Deposits and Investments $ 42,366,974 ~ 42,407,369

The police pension's deposits and investments at year end were comprised of the following:

Deposits US agencies Mutual funds - stocks US treasuries Mutual funds - bonds Money market US treasuries Government bonds Stocks Illinois funds

Total Police Pension Deposits and Investments


$ 39,383 $ 6,060,720 8,389,353 8,681,783 6,559,604

632,736 196,465

8,797,192 178,368

60,097 6,060,720 8,389,353 8,681 ,783 6,559,604

632,736 196,465

8,797,192 178,368

$ 39,535,604 $ 39,556,318

The firefighters' pension's deposits and investments at year end were comprised of the following:


Deposits $ 10,671 $ 10,671 US agencies 3,008,518 3,008,518 US treasuries 1,385,810 1,385,810 Money market US treasuries 285,064 285,064 Government bonds 105,185 105,185 Annuities 1,627,078 1,627,078 Stocks 14,349,014 14,349,014

Total Firefighters' Pension Deposits and Investments $ 20,771 ,340 $ 20,771 ,340

Deposits in each local and area bank are insured by the FDIC in the amount of $250,000 for time and savings accounts (including NOW accounts), $250,000 for interest-bearing demand deposit accounts, and unlimited amounts for noninterest bearing transaction accounts.

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The Securities Investor Protection Corporation (SIPC), created by the Securities Investor Protection Act of 1970, is an independent government-sponsored corporation (not an agency of the U.S. government).

SIPC membership provides account protection up to a maximum of $500,000 per customer, of which $100,000 may be in cash . Additionally, through Lloyds of London, accounts have additional securities coverage of $99.5 million per customer, subject to a $500 million aggregate firm limit. $60,256,891 of the city's investments are covered by SIPC.

Custodial Credit Risk

Deposits

Custodial credit risk is the risk that in the event of a financial institution failure, the city's deposits may not be returned to the city.

The city does not have any deposits exposed to custodial credit risk.

Investments

For an investment, custodial credit risk is the risk that, in the event of the failure of the counterparty, the city will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party.

The city does not have any investments exposed to custodial credit risk.

Credit Risk

Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its obligations.

All of the city's investments are rated AAA.

All of the police pension's investments are rated AAA, except for certain implicit U.S. agencies which are rated BBB+, A-, A, A+, and A++ and one municipal bond that is rated M-.

All of the firefighters' investments are rated MAlM+, with the exception of one municipal bond, the Illinois Build America Bonds, Series 2010 which is rated A1 and the annuities which are rated A+.

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NOTE III - DETAILED NOTES ON ALL FUNDS (cant.)

A. DEPOSITS AND INVESTMENTS (cant.)

Interest Rate Risk

Interest rate risk is the risk that changes in interest rates will adversely affect the value of an investment.

As of April 30, 2012, the city's investments were as follows :

City Investments

Maturit~ (In Years}

Less than 1 Investment T~ee Fair Value ~ear 1-5 ~ears 6-10 ~ears Over 1 0 ~ears

Illinois Metropolitan Investment Fund $ 1 ,616,826 $ - $ 1 ,616,826 $ - $

Totals $ 1,616,826 $ - $ 1,616,826 $ - $

Police Pension Fund Investments

Maturit~ (In Years}

Less than 1 Investment T~ee Fair Value ~ear 1-5 ~ears 6-10 ~ears Over 1 0 ~ears

US treasuries $ 8,681,783 $ 956,029 $ 4,073,426 $ 2,480,162 $ 1,172,166 US agencies 6,060,720 151,308 2,336,151 2,041,987 1,531,274 Government bonds 196,465 72,110 124,355

Totals $ 14,938,968 $ 1,107,337 $ 6,409,577 $ 4,594,259 $ 2,827,795

Firefighters' Pension Fund Investments

Maturit~ (In Years}

Less than 1 Investment Tyee Fair Value year 1-5 years 6-10 years Over 10 years

US treasuries $ 1,385,810 $ - $ 281,415 $ 933,657 $ 170,738 Government bonds 105,185 105,185 US agencies 3,008,518 60,743 1,025.273 222,169 1,700,333

Totals $ 4,499,513 $ 60,743 $ 1,411,873 $ 1 ,155,826 $ 1 ,871 ,071

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NOTES TO FINANCIAL STATEMENTS As of and For the Year Ended April 30,2012

NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)


See Note 1.0.1. for further information on deposit and investment policies .

B. RECEIVABLES

All of the receivables on the balance sheet are expected to be collected within one year, except for notes receivable of $54,534.

Governmental funds report deferred revenue in connection with receivables for revenues that are not considered to be available to liquidate liabilities of the current period. Property taxes levied for the subsequent year are not earned and cannot be used to liquidate liabilities of the current period. Governmental funds also defer revenue recognition in connection with resources that have been received, but not yet earned. At the end of the current fiscal year, the various components of deferred revenue and unearned revenue reported in the governmental funds were as follows:

Property taxes receivable for subsequent year Rental and property income Developer escrow Police forfeiture and DUI funds State grant reimbursement County reimbursement received in advance Ambulance receivables

Total Deferred/Unearned Revenue for Governmental Funds

Unavailable

$ -

218,011

225,206

$ 443,217

Unearned Totals

$ 19,639,790 $ 19,639,790 117,317 117,317 63,497 63,497 56,049 56,049

218,011 100,000 100,000

225,206

$ 19,976,653 $ 20,419,870

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C. CAPITAL ASSETS

Capital asset activity for the year ended April 30, 2012, was as follows:

Beginning Balance Additions

Governmental Activities Capital assets not being depreciated

Land $ 2,075,610 $ -Land right of way 158,754,955 Construction in progress 2,602,650 481 ,735

Total Capital Assets Not Being Depreciated 163.433,215 481 ,735

Capital assets being depreciated Buildings and land improvements 42,949,521 Machinery and equipment 461,800 Internal service funds vehicles 11,753,038 669,145 Internal service funds equipment 2,642,021 174,818 Infrastructure 118,643,235

Total Capital Assets Being Depreciated 176,449,615 843,963

Total Capital Assets 339,882,830 1.325,698

Less: Accumulated depreciation for Buildings and land improvements (12,750,227) (1,412,631) Machinery and equipment (213,892) (43,054) Internal service funds vehicles (7,638,179) (819,928) Internal service funds equipment (1,720,236) (147,450) Infrastructure (86.029,943) (2,912,538)

Total Accumulated Depreciation (108,352,477) (5,335,601 )

Net Capital Assets Being Depreciated 68,097,138 {4,491 ,638)

Total Governmental Activities Capital Assets, Net of Accumulated

$

Depreciation ~ 231,530,353 ~ (4,009,903) $

Depreciation expense was charged to functions as follows :

Governmental Activities General government Public safety Highways and streets, including depreciation of general infrastructure assets

Total Governmental Activities Depreciation Expense

Deletions

-

300,592

391,450 69,837

761,879 761,879

25,049

359,752 59,361

444,162

317,717

317.717

Ending Balance

$ 2,075,610 158,754,955

3.084.385

163.914.950

42,648,929 461,800

12,030,733 2,747,002

118.643,235

176,531,699 340,446,649

(14,137,809) (256,946)

(8,098,355) (1 ,808,325)

(88,942,481 )

(113.243.916)

63,287,783

$ 227,202,733

$ 958,221 710,692

3,666,688

$ 5,335,601

Page 51

CITY OF WHEATON


NOTE III - DETAILED NOTES ON ALL FUNDS (cont.)

C. CAPITAL ASSETS (cont.)

Beginning Ending Balance Additions Deletions Balance

Business-type Activities Capital assets not being depreciation

Land $ 1,921,883 $ - $ - $ 1,921,883 Construction in progress 68,482 6,186 68,482 6,186

Total Capital Assets Not Being Depreciated 1,990,365 6,186 68,482 1,928,069

Capital assets being depreciated Buildings and improvements 15,467,987 15,467,987 Equipment 3,673,802 3,673,802 Wells 714,527 714,527 Distribution system 28,718,050 1,153,440 29,871,490 Elevated storage tanks and

reservoirs 2,499,794 2,499,794 Sanitary sewers 43,575,743 1,647,106 45,222,849 Storm sewers 15,407,403 381,038 15,788,441

Total Capital Assets Being Depreciated 110,057,306 3,181,584 113,238,890

Total Capital Assets 112,047,671 3,187,770 68,482 115,166,959

Less: Accumulated depreciation for Buildings and improvements (5,506,112) (526,183) (6,032,295) Equipment (2,257,644) (143,275) (2,400,919) Wells (597,034) (4,729) (601 ,763) Distribution system (19,566,877) (658,676) (20,225,553) Elevated storage tanks and

reservoirs (704,212) (31,560) (735,772) Sanitary sewers (26,627,073) (772,476) (27,399,549) Storm sewers (10.907,229) (268,710) (11 .175.939)

Total Accumulated Depreciation/Amortization (66.166,181) (2 ,405,609) (68.571.790)

Net Capital Assets Being Depreciated 43,891,125 775.975 44,667,100

Business-type Capital Assets, Net of Accumulated Depreciation $ 45,881,490 ~ 782,161 ~ 68,482 $ 46,595,169

Page 52

CITY OF WHEATON


NOTE III - DETAILED NOTES ON ALL FUNDS (cont. )

C. CAPITAL ASSETS (cont.)

Depreciation expense ~as charged to functions as follows:

Business-type Activities Water Sewer Parking

Total Business-type Activities Depreciation Expense

D. INTERFUND RECEIVABLES/PAYABLES, ADVANCES AND TRANSFERS

Interfund Receivables/Payables

$ 855,022 1,107,080

443,507

$ 2,405,609

The following is a schedule of interfund receivables and payables including any overdrafts on pooled cash and investment accounts:

Receivable Fund Payable Fund

General fund Tax Increment Financing #3

Total - Fund Financial Statements

Less: Fund eliminations

Add: Interfund receivables created with internal service fund eliminations

Total Internal Balances - Government-Wide Statement of Net Assets

All amounts are due within one year.

The principal purpose of these interfunds is to cover cash deficits.

Amount

$ 14,069

14,069

(14,069)

239,212

$ 239,212

For the statement of net assets, interfund balances which are owed within the governmental activities or business-type activities are netted and eliminated.

Page 53

CITY OF WHEATON


NOTE 111- DETAILED NOTES ON ALL FUNDS (cant.)

D. INTERFUND RECEIVABLES/PAYABLES, ADVANCES AND TRANSFERS (cant.)

Advances

The general fund is advancing funds to Tax Increment Financing #2 Fund. The am,ount advanced is determined by the deficiency of revenues over expenditures and other financing sources since the district's inception. The general fund is charging the Tax Increment Financing #2 interest on the advance based on the average outstanding advance balance during the year at a rate of equal to the Illinois Funds interest rate . This advance is to be paid from future tax increment finance revenues.

The following is a schedule of interfund advances:

Receivable Fund Payable Fund

General Tax Increment Financing #2

Total - Fund Financial Statements

Less: Fund eliminations

Total - Interfund Advances - Government-Wide Statement of Net Assets

Amount

$ 926,652

926,652

(926.652)

$

Amount Not Due Within One

Year

$ 926,652

The principal purpose of this advance is fund the Tax Increment Financing #2's deficit fund balance from the fund's inception.

For the statement of net assets, interfund advances which are owed within the governmental activities or business-type activities are netted and eliminated .

Page 54

CITY OF WHEATON



D. INTERFUND RECEIVABLES/PAYABLES, ADVANCES AND TRANSFERS (cont.)

Transfers

The following is a schedule of interfund transfers:

Fund Transferred To Fund Transferred From Amount Principal Purpose

T ax Increment Financing Repayment of General Fund #2 Tax Increment Financing #1 $ 500,000 loan to TIF #2

Motor Tax Fuel General fund 500,000 Road program funding Debt Service Tax Increment Financing #1 922,338 Debt payment Debt Service Tax Increment Financing #3 1,112,295 Debt payment Parking Revenue Tax Increment Financing #2 743,194 Debt payment

Total - Fund Financial Statements 3,777,827

Less: Fund eliminations (3.034.633)

Total Transfers - Government-Wide Statement of Activities ~ 743,194

Generally. transfers are used to (1) move revenues from the fund that collects them to the fund that the budget requires to expend them , (2) move receipts restricted to debt service from the funds collecting the receipts to the debt service fund, and (3) use unrestricted revenues collected in the general fund to finance various programs accounted for in other funds in accordance with budgetary authorizations.

For the statement of activities , interfund transfers within the governmental activities or business-type activities are netted and eliminated.

Page 55

CITY OF WHEATON



E. LONG-TERM OBLIGATIONS

Long-term obligations activity for the year ended April 30, 2012, was as follows:

Amounts Due Beginning Ending Within One Balance Increases Decreases Balance Year

Governmental Activities Bonds and Notes Payable

General obligation debt $ 44,815,000 $ - $ 3,575,000 $ 41,240,000 $ 3,700,000 AddJ(Subtract) Deferred

Amounts For Unamortized premium 534,766 59,277 475,489 59,277 Unamortized loss on

refunding (204,123) (48,294) (155,829) (48,293) Sub-totals 45,145,643 3,585,983 41,559,660 3.710,984

Other Liabilities Vested compensated

absences - governmental funds 4,041,972 129,598 1,382,539 2,789,031 1,174,003

Vested compensated absences - internal service funds 184,792 29,064 173,784 40,072 31,287

Other postemployment benefits 132,946 38,902 171,848

Total Other Liabilities 4.359,710 197,564 1,556,323 3.000,951 1,205,290

Total Governmental Activities Long-Term

$ 49,505,353 $ 197,564 $ 5,142,306 $ 44,560,611 $ 4,916,274 Liabilities

Business-type Activities Bonds and Notes Payable

General obligation debt $ 4,675,000 $ - $ 550,000 $ 4,125,000 $ 625,000 AddJ(Subtract) Deferred

Amounts For Unamortized premium 52,881 8,813 44,068 8,814 Sub-totals 4,727,881 558,813 4,169,068 633.814

Other Liabilities Vested compensated

absences 419,588 141,421 353,888 207,121 152,239 Other postemployment

benefits 12,258 832 13,090 Total Other Liabilities 431,846 142,253 353,888 220,211 152,239

Total Business-type Activities Long-Term

$ 5,159,727 $ 142,253 $ 912,701 $ 4,389,279 $ 786,053 Liabilities

The State of Illinois has not set legal debt limits for home rule municipalities.

Page 56

CITY OF WHEATON



E. LONG-TERM OBLIGATIONS (cant.)

General Obligation Debt

All general obligation notes and bonds payable are backed by the full faith and credit of the city. Notes and bonds in the governmental funds will be retired by future property tax levies or tax increments. Business-type activities debt is payable by revenues from user fees of those funds or, if the revenues are not sufficient, by future tax levies.

Fund Debt Balances Balances Current Issue Pur~ose Retired b:t Ma:t1 Issuances Retirements A~ri130 Portion

$2,005,000 Corporate Purpose Taxable General Obligation Bonds dated July 1, 1998, due in To crossover refund annual installments of $1,875,000 of the $15,000 to $310,000, Taxable plus interest at 6.00% to General Obligation Bond Debt 6.20% through December 1, 2014 Series 1995B. Service $ 1,210,000 $ $ 310,000 $ 900,000 $ 305,000

$10,000,000 Corporate Purpose General Obligation Refunding To refund Corporate Bonds dated June 15, 2003 due Purpose Bond Series of in annual installments of 1995A, 1996 and 1997 $100,000 to $1,355,000, and remaining funds plus interest at 2.00% to 3.70% used to complete road Debt through December 1, 2018 reconstruction. Service 3,775,000 475,000 3,300,000 450,000

$19,960,000 Corporate Purpose General Obligation Bonds dated June 1, 2004 due in annual installments of $275,000 to $1,845,000, To fund the addition and plus interest at 3.00% to 5.00% remodeling of the Debt through December 1, 2024 Wheaton Public Library. Service 17,935,000 350,000 17,585,000 425,000

$10,885,000 Corporate Purpose To refund $4,280,000 of General Obligation Refunding the Bonds dated March 1, 2005 Corporate Purpose Bond due in annual installments of Series of 1998 and $50,000 to $2,220,000 $6,250,000 of the plus interest at 3.00% to 4.00% Corporate Purpose Bond Debt through December 1, 2015 Series of 1999. Service 8,470,000 1,675,000 6,795,000 1,700,000

$8,350,000 Corporate Purpose Taxable General Obligation Bonds dated June 1, 2005, due in annual installments of To fund redevelopment $280,000 to $1,800,000, costs for the Courthouse plus interest at 4.50% to Square Redevelopment Debt 4.80% through December 1, 2018 Project. Service 7,425,000 765,000 6,660,000 820,000

$5,900,000 Corporate Purpose Taxable General Obligation Bonds dated August 27, 2007 due in annual installments of $175,000 to $750,000, To fund the cost of plus interest at 4.125% building a public parking Parking through December 2017 facility. Revenue 4,675,000 550,000 4,125,000 625,000

Page 57

CITY OF WHEATON



E. LONG-TERM OBLIGATIONS (cant.)

Issue

General Obligation Debt (cant. )

Purpose

To fund the Manchester I Wesley St. bridge reconstruction project. North Main St. Flood Control project

Fund Debt Balances Retired by May 1

and other capita l Debt

Issuances Retirements Balances April 30

Current Portion

$6,000,000 Corporate Purpose General Obligation Bonds dated February 24,2010, due in annual installments of $660,000 to $855,000 plus interest at 3% to 4% through December 2024 improvements. Service $ 6,000,000 "'-$ ___ - .:r..$ __ _ $ 6.000,000 :1:..$ __ ....:

TOTAL GENERAL OBLIGATION BONDS $ 49,490,000 ;!;,$ === $ 4,125,000 $ 45,365,000 $ 4,325,000

Debt service requirements to maturity are as follows :

Governmental Activities Business-type Activities General Obligation Debt General Obligation Debt

Years Princi~al Interest Princi~al Interest

2013 $ 3,700,000 $ 1,855,520 $ 625,000 $ 170,156 2014 4,515,000 1,698,460 650,000 144,375 2015 4,920,000 1,499,360 675,000 117,563 2016 3,805,000 1,279,260 700,000 89,719 2017 3,590,000 1,110,355 725,000 60,844 2018-2022 13,010,000 3,468,440 750,000 30,937 2023-2025 7.700,000 733,050

Totals $ 41,240,000 $ 11,644,445 $ 4,125,000 $ 613,594

Other Debt Information

Estimated payments of compensated absences and other postemployment benefits are not included in the debt service requirement schedules. The compensated absences liability attributable to governmental activities will be liqUidated primarily by the General Fund fund .

There are a number of limitations and restrictions contained in the various bond indentures and loan agreements. The city believes it is in compliance with all significant limitations and restrictions, including federal arbitrage regulations.

Page 58

CITY OF WHEATON



F. COMPONENT UNIT

WHEATON PUBLIC LIBRARY

This report contains the Wheaton Public Library (library), which is included as a component unit. Financial information is presented as a discrete column in the statement of net assets and statement of activities.

In addition to the basic financial statements and the preceding notes to financial statements which apply, the following additional disclosures are considered necessary for a fair presentation.

a. Basis of Accounting/Measurement Focus

The library follows the modified accrual basis of accounting and the flow of financial resources measurement focus.

b. Deposits and Investments

Deposits Money market treasuries Illinois Funds Illinois Metropolitan Investment Fund Petty cash

Total Deposits and Investments

Custodial Credit Risk

Deposits


$ 517,770 $ 519,959 204,432 204,432 397,058 397,058

1,000,324 1,000,324 675

$ 2,120,259 ~ 2,121,773

Custodial credit risk is the risk that in the event of a financial institution failure, the library's deposits may not be returned to the library.

The library does not have any deposits exposed to custodial credit risk.

Page 59

CITY OF WHEATON



F. COMPONENT UNIT (cant.)

WHEATON PUBLIC LIBRARY (cant.)

b. Deposits and Investments (cant.)

Custodial Credit Risk (cant.)

Investments

For an investment, custodial credit risk is the risk that, in the event of the failure of the counterparty, the library will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party.

The library does not have any investments exposed to custodial credit risk.

See Note 1.0.1. for further information on deposit and investment policies.

c. Capital Assets

Beginning Ending Useful Lives Balance Additions Deletions Balance (Years)

Land $ 120,000 $ - $ - $ 120,000 Buildings 1,855,753 1,855,753 30 Equipment 225,488 225,488 3 - 10 Less: Accumulated

depreciation (2,018,193) (36,061 ) (2,054,254 )

Totals $ 183,048 $ (36,061 ) ~ - ~ 146,987

Page 60

CITY OF WHEATON



F. COMPONENT UNIT (cont.)

WHEATON PUBLIC LIBRARY (cont.)

d. Long-Term Obligations

During the fiscal year, the following changes occurred in liabilities reported in the governmental activities:

Amounts Beginning Ending Due Within Balance Increases Decreases Balance One Year

Compensated absences payable $ 125,905 $ 14,507 $ 15,481 $ 124,931 $

Other postemployment benefits 7,515 2,311 9,826

Totals $ 1331420 § 161818 $ 15 1481 § 1341757 §

NOTE IV - OTHER INFORMATION

A. EMPLOYEES' RETIREMENT SYSTEM

Plan Descriptions

The city 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 singleemployer pension plan; and the Firefighters' Pension Plan which is a single-employer pension plan. The benefits, benefits levels, employee contributions and employer contributions for the plans are governed by Illinois Compiled Statutes and can only be amended by the Illinois General Assembly. The Police Pension Plan and the Firefighters' Pension Plan do not issue separate reports on the pension plans. 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 from IMRF, 2211 York Road, Suite 500, Oak Brook, Illinois 60523.

124,931

1241931

Page 61

CITY OF WHEATON


NOTE IV - OTHER INFORMATION (cont.)

A. EMPLOYEES' RETIREMENT SYSTEM (cont.)

Illinois Municipal Retirement Fund

All employees hired in positions that meet or exceed the prescribed annual hourly standard must be enrolled in IMRF as participating members. IMRF has a 2 tier plan. Members who first participated in IMRF or an Illinois Reciprocal System prior to January 1, 2011 participate in Tier 1. All other members participate in Tier 2. For Tier 1 participants, pension benefits vest after 8 years of service. Participating members who retire at or after age 60 with 8 years of 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 (average of the highest 48 consecutive month's earnings during the last 10 years) for credited service up to 15 years and 2% for each year thereafter. For Tier 2 participants, pension benefits vest after 10 years of service. Participating members who retire at or after age 67 with 10 years of 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 (average of the highest 96 consecutive month's earnings during the last 10 years, capped at $106,800) for credited service up to 15 years and 2% for each year thereafter. However, your total pension cannot exceed 75% of your final rate of earnings. If you retire after 10 years of service between the ages of 62 and 67, and have less then 30 years of service credit, you pension will be reduced by 1/2% for each month that you are under the age of 67. If you retire after 10 years of service between the ages of 62 and 67, and have between 30 and 35 years of service credit, your pension will be reduced by the lesser of 1/2% for each month that you are under the age of 67 or 1/2% for each month of service credit less than 35 years. IMRF also provides death and disability benefits. These benefit provisions and all other requirements are established by Illinois Compiled Statutes. Participating members are required to contribute 4.5% of their annual salary to IMRF. The City is required to contribute the remaining amounts necessary to fund the coverage of its own employees in IMRF, as specified by statute. For calendar year 2011, the City's required and actual contribution rate was 13.23%.

Police Pension

Police sworn personnel are covered by the Police Pension Plan, which is a defined benefit singleemployer pension plan. Although this is a single employer pension plan, the defined benefits and employee and employer contribution levels are governed by Illinois State Statutes (Chapter 40 ILCS 5/3) and may be amended only by the Illinois legislature. The city accounts for the plan as a pension trust fund .

At April 30,2012, the Police Pension membership consisted of:

Retirees and beneficiaries currently receiving benefits and terminated employees entitled to benefits but not yet receiving them

Current employees: Vested Non vested

Total

51

47 18

116

Page 62

CITY OF WHEATON




Police Pension (cont.)

The following is a summary of the Police Pension Fund as provided for in Illinois Compiled Statutes .

The police pension fund provides retirement benefits as well as death and disability benefits. Participants 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 salary attached to the rank on the last day of service, or for one year prior to the last day, whichever is greater. The pension shall be increased by 2.5% of such salary for each additional year of service over 20 years up to 30 years to a maximum of 75% of such salary. Employees with at least 8 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 police officer who retired with 20 or more years of service after January 1, 1977 shall be increased annually, following the first anniversary date of retirement and paid upon reaching at least the age 55, by 3% of the original pension and 3% compounded annually thereafter. For Employees hired after January 1, 2011, the Normal Retirement age is attainment of age 55 and completion of 10 years of service; Early Retirement age is attainment of age 50, completion of 10 years of service and the Early Retirement Factor is 6% per year; the Employee's Accrued Benefit is based on the Employee's final 8-year average salary not to exceed $106,800 (as indexed); Cost-of-living adjustments are simple increases (not compounded) of the lesser of 3% or 50% of CPI beginning the later of the anniversary date and age 60; Surviving Spouse's Benefits are 66 2/3% of the Employee's benefit at the time of death.

Covered employees are required to contribute 9.91 % of their base salary to the Police Pension Plan. If an employee leaves covered employment with less than 20 years of service, accumulated employee contributions may be refunded without accumulated interest. The city is required to contribute the remaining amounts necessary to finance the plans as actuarially determined by an enrolled actuary. Effective July 1, 1993 the city's contributions must accumulate to the point where the past service cost for the Police Pension Plan is fully funded by the year 2033. For the year ended April 30, 2012, the city's contribution was 31 .64% of covered payroll. The schedule of funding progress, presented as RSI following the notes to the financial statements, presents multi-year trend information about whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrual liability for benefits .

Firefighters' Pension

Fire sworn personnel are covered by the Firefighters' Pension Plan, which is a defined benefit singleemployer pension plan. Although this is a single employer pension plan, the defined benefits and employee and employer contribution levels are governed by Illinois State Statutes (Chapter 40 ILCS 5/3) and may be amended only by the Illinois legislature. The city accounts for the plan as a pension trust fund .

Page 63

CITY OF WHEATON




Firefighters' Pension (cont.)

At April 30, 2012, 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 Non vested

Total

16

24 13

53

The following is a summary of the Firefighters' Pension Fund as provided for in Illinois Compiled Statutes.

The Firefighters' Pension Plan provides retirement benefits as well as death and disability benefits. Participants attaining the age of 50 or more with 20 or more years of creditable service are entitled to receive a monthly 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 one twelfth of 2.5% of such monthly salary for each additional month over 20 years of service through 30 years of service to a maximum of 75% of such monthly salary. Employees with at least 10 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 firefighter who retired with 20 or more years of service after January 1, 1977 shall be increased annually, following the first anniversary date of retirement and paid upon reaching at least the age 55, by 3% of the original pension and 3% compounded annually thereafter. For Employees hired after January 1, 2011, the annual retirement benefit is (2 .5%) of final average salary for each year of service up to (30) years, to a maximum of (75%) of such salary, the Normal Retirement age is attainment of age 55 and completion of 10 years of service; Early Retirement age is attainment of age 50, completion of 10 years of service and the Early Retirement Factor is 6% per year; the Employee's Accrued Benefit is based on the Employee's final 8-year average salary not to exceed $106,800 (as indexed); Cost-of-living adjustments are simple increases (not compounded) of the lesser of 3% or 50% of CPI beginning the later of the anniversary date and age 60; Surviving Spouse's Benefits are 66 2/3% of the Employee's benefit at the time of death.

Participants contribute a fixed percentage of their base salary to the plans. At April 30, 2012, the contribution percentage was 9.455%. If a participant leaves covered employment with less than 20 years of service, accumulated participant contributions may be refunded without accumulated interest. The city is required to contribute the remaining amounts necessary to finance the plans as actuarially determined by an enrolled actuary. Effective July 1, 1993 the city's contributions must accumulate to the point where the past service cost for the Firefighters' Pension Plan is fully funded by the year 2033. For the year ended April 30, 2012, the city's contribution was 28.67% of covered payroll. The schedule of funding progress, presented as RSI following the notes to the financial statements, presents multi-year trend information about whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrual liability for benefits.

Page 64

CITY OF WHEATON




Summary of Significant Accounting Policies

Police and Firefighters' Pension Plans

Basis of Accounting. The financial statements of the pension fund are prepared using the accrual basis of accounting. Plan member contributions are recognized in the period in which contributions are due. The city's contributions are recognized when due and a formal commitment to provide the contributions are made. Benefits and refunds are recognized when due and payable in accordance with the terms of the plan.

Method Used to Value Investments. Plan investments are reported at fair value. Short-term investments are reported at cost, which approximated fair value . Investments that do not have an established market are reported at estimated fair values.

Annual Pension Cost

The city annual required contribution for the current year and related information for each plan is as follows :

Illinois Municipal Police Firefighters' Retirement Pension Pension

Actuarial valuation date December 31,2011 April 30, 2012 April 30, 2012 Contribution rates:

Employer 13.23% 31.64% 28.67% Employee 4.50% 9.91% 9.455%

Annual required contrib.ution $1,379,976 $1,913,209 $948,469 Contributions made $1,379,976 $1 ,913,209 $948,469 Actuarial cost method Entry-age normal Entry-age normal Entry-age normal

5 year smoothed Asset valuation method market Market Market Amortization method Level percentage of Level percentage of Level percentage of

payroll payroll payroll Amortization period 30 years, open 29 years, closed 29 years, closed Actuarial assumptions:

Investment rate of return 7.50% 7.25% 7.25% Compounded annually Compounded annually Compounded annually

Projected salary increases .4 to 10.00% 6.00% 6.00% Inflation rate included 4.00% 3.00% 3.00% Cost-of-living adjustments 3.00% 3.00% 3.00%

Page 65

CITY OF WHEATON




Net Pension Obligation (Asset)

The following is the net pension obligation (asset) calculation from the April 30, 2012 actuarial report:

Net Pension Obligation (Asset):

Annual required contribution Interest on net pension obligation Adjustment to annual required contribution Annual pension cost Contributions made Change in net pension obligation (asset) Net pension obligation (asset), beginning of year

Net pension obligation (asset), end of year

Trend Information

$

Police Pension


1,913,209 $ 948,469 (63,391) (83,375)

____ ~3~4~,7w7~4 ______ 4~5~, 7~3=6 1,884,592 910,830

(1 ,913,209) ___ ..... (-=..94..:..,:8::..1..4.:,.::6=9,) (28,617) (37,639)

(874,360) (1,149,998)

$ (902,977) $ (1,187,637)

Trend information gives an indication of the progress made in accumulating sufficient assets to pay benefits when due.

Illinois Municipal Police Firefighters' Fiscal Year Retirement Pension Pension

Annual pension cost (APC) 2012 $ 1,379,976 $ 1,844,592 $ 910,830 2011 1,252,028 1,867,694 955,709 2010 1,089,722 1,603,253 744,772

Contributions made 2012 $ 1,379,976 $ 1,913,209 $ 948,469 2011 1,252,028 1,887,986 982,397 2010 1,089,722 1,650,000 775,000

Percentage of APC contributed 2012 100% 101 .5% 104,1% 2011 100% 101 .1% 102.8% 2010 100% 102.9% 104.1%

Net pension obligation (asset) 2012 $ - $ (902,977) $ (1,187,637) 2011 (874,360) (1,149,998) 2010 (854,068) (1 ,123,310)

Page 66

CITY OF WHEATON


NOTE IV - OTHER INFORMATION (cant.)

A. EMPLOYEES' RETIREMENT SYSTEM (cant.)

Funded Status and Funding Progress

The city's actuarial value of plan assets for the current year and related information is as follows :

Actuarial Valuation Date

Actuarial Valuation of Assets (a)

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

Unfunded AAL (UAAL) (b - a)

Funded Ratio (a/b)

Covered Payroll (c)

UAAL as a Percentage of Covered Payroll «ba)/c)

PENSION SEGMENT INFORMATION

Fiduciary Net Assets

ASSETS Cash and investments Prepaid items Receivables

Accrued interest Total Assets

LIABILITIES Accounts payable

Total Liabilities

NET ASSETS Held in trust for pension benefits

Police Illinois Municipal Retirement Pension

December 31, 2011 April 30, 2012

$ 28,744,213

38,718,549

9,974,336

74 %

10,430,654

96 %

$ 39,625,033 $

61,841,101

22,216,068

64 %

6,047,038

367 %

Pension Trust Police Firefighters'

Pension Pension

$ 39,535,604 $ 20,771,340 4,490 11,427

117,639 53,827 39,657,733 20,836,594

32.700 12.431 32.700 12.431

$ 39,625,033 ~ 20,824,163


April 30, 2012

20,824,163

28,464,172

7,640,009

73 %

3,307,774

231 %

Total

$ 60,306,944 15,917

171,466 60.494,327

45,131 45,131

~ 60,449,196

Page 67

CITY OF WHEATON




Changes in Plan Net Assets Pension Trust

Police Firefighters' Pension Pension Total

ADDITIONS Contributions Employee $ 614,428 $ 304,284 $ 918,712 Employer 1,913,209 948.469 2,861,678

Total Contributions 2,527,637 1.252.753 3.780,390

Investment Income Interest on investments 887,240 452,222 1,339,462 Net appreciation in fair value of investments 1,618,785 813.316 2,432,101

Total Investment Income 2,506,025 1,265,538 3,771,563 Less: Investment expense (137,313) (100.011) (237.324)

Net investment income 2,368,712 1,165.527 3.534.239 Total Additions 4,896,349 2.418.280 7.314.629

DEDUCTIONS Benefits and refunded contributions 2,353,505 890,148 3,243,653 Administration 35,937 33.612 69,549

Total Deductions 2,389.442 923.760 3,313,202

Net change in net assets 2,506,907 1,494,520 4,001,427

NET ASSETS, Beginning of Year 37,118,126 19,329,643 56.447,769

NET ASSETS, END OF YEAR ~ 39,6251033 ~ 20,824,163 ~ 60,449,196

The schedule of funding progress for the postemployment defined benefit plans immediately following the notes to the financial statements presents multi-year trend information about whether the actuarial value of plan assets is increasing or decreasing relative to the actuarial accrued liabilities for benefits over time.

B. RISK MANAGEMENT

The city is exposed to various risks including, but not limited to losses related to torts; theft of, damage to, or destruction of assets; errors and omissions; workers compensation; and health care of its employees. The city is self insured for losses from workers' compensation, public liability, general property and casualty. The city has established the Liability Insurance and Health Insurance Internal Service Funds to account for these activities. Each participating fund makes payments to the self-insurance fund. Such payments are displayed on the financial statements as revenues and expenditures/expenses to the extent that the charge to the other funds is based on actual expenses of the funds, plus an additional amount for catastrophic losses. Payments in excess of these amounts, if any, are reported as transfers.

Page 68

CITY OF WHEATON



B. RISK MANAGEMENT (cont.)

Self Insurance

The city has contracted with third-party administrators (TPAs) to administer the workers ' compensation , general liability and health insurance programs and to review and process these claims. In addition, the city has contracted with third-party carriers for specific and aggregate stop loss coverage to limit the city's exposure to losses. For liability claims, the uninsured risk of loss is $100,000 per incident and $1 ,900,000 in the aggregate for a policy year. The city has purchased commercial insurance for claims in excess of those amounts . Settled claims have not exceeded the commercial coverage in any of the past three years .

For worker's compensation claims, the uninsured risk of loss is $350,000 per incident with a statutory aggregate stop loss for all departments, except for Public Safety Officers . Public Safety Officers are selfinsured for $400,000 per occurrence with a statutory aggregate stop loss .. The city has purchased commercial insurance for claims in excess of those amounts . Settled claims have not exceeded the commercial coverage in any of the past three years.

That reserve was $841 ,999 at year end, and is included as a liability in the internal service fund .

A liability for a claim is established if information indicates that it is probable that a liability has been incurred at the date of the financial statements and the amount of the loss is reasonably estimable. Liabilities include an amount for claims that have been incurred but not reported (IBNRs) . The result of the process to estimate the claims liability is not an exact amount as it depends on many complex factors, such as inflation, changes in legal doctrines and damage awards. Accord ingly, claims are reevaluated periodically to consider the effects of these factors. The city does not allocate overhead costs or other non incremental costs to the claims liability.

Claims Liability

Unpaid claims - Beginning of Year Current year claims and changes in estimates Claim payments

Unpaid Claims - End of Year

Public Entity Risk Pool

High Level Excess Liability Pool (HELP)

$

~

Prior Year Current Year

879,349 $ 1,029,343 580,231 222,944

(430,237) (410,288)

1,029,343 $ 841,999

The city is a member of the High-Level Excess Liability Pool (HELP). HELP is an insurance pool conS isting of fifteen municipalities in Illinois to provide excess liability coverage in the amount of $2,000,000 per occurrence and in the aggregate for each member after a $1,000,000 per member selfinsurance retention . In addition, HELP provides excess insurance of $10,000,000 per occurrence for claims in excess of $3,000,000. The city's payments to HELP are displayed on the financial statements as expenditures/expenses in appropriate funds .

Page 69

CITY OF WHEATON



B. RISK MANAGEMENT (cont.)

Public Entity Risk Pool (cont.)

HELP (cont.)

The High-Level Excess Liability Pool was organized on April 1, 1987 with the initial agreement extending to April 30, 2008. The purpose of HELP is to act as a joint self-insurance pool for the purpose of seeking the prevention or lessening of liability claims for injuries to persons or property or claims for errors and omissions and employers' liability made against the members and other parties included within the scope of its coverage.

HELP is governed by a Board of Directors which consists of one appointed representative from each member municipality. Each Director has an equal vote. The officers of HELP are appointed by the Board of Directors. The Board of Directors determines the general policy of the agency, makes all appropriations, approves contracts, adopts resolutions providing for the issuance of debt by HELP, adopts by-laws, rules and regulations, and exercises such powers and performs such duties as may be prescribed in the Agency Agreement or the by-laws.

The city does not exercise any control over the activities of HELP beyond its representation on the Board of Directors.

Intergovernmental Personnel Benefit Cooperative

On April 1 , 2003, the city became a member in the Intergovernmental Personnel Benefit Cooperative (IPBC). IPBC is a public entity risk pool established by certain units of local governments in Illinois to administer some or all of the personnel benefit programs (primarily medical, dental and life insurance coverage) offered by these members to their officers and employees and to the officers and employees of certain other governmental, quasi governmental and nonprofit public service entities.

The IPBC receives, processes and pays such claims that come within the benefit program of each member. Management consists of a Board of Directors and may comprise of one appointed representative from each member. In addition, four members are elected by the Board of Directors to serve as chairman, vice-chairman, secretary and treasurer. The city does not exercise any control over the activities of the IPBC beyond its representation on the Board of Directors.

C. COMMITMENTS AND CONTINGENCIES

At April 30, 2012, the city had commitments under a state grant agreement for the replacement of the Wesley Street Bridge, which may provide for the repayment of up to $1,280,000 to the state. At year-end, the amount due to the state is not determinable as the project is not complete.

From time to time, the city is party to various pending claims and legal proceedings. Although the outcome of such matters cannot be forecasted with certainty, it is the opinion of management and the city attorney that the likelihood is remote that any such claims or proceedings will have a material adverse effect on the city's financial position or results of operations.

Page 70

CITY OF WHEATON



C. COMMITMENTS AND CONTINGENCIES (cant.)

The city has received federal and state grants for specific purposes that are subject to review and audit by the grantor agencies. Such audits could lead to requests for reimbursements to the grantor agency for expenditures disallowed under terms of the grants . Management believes such disallowances, if any, would be immaterial.

DuPage Water Commission (DWC)

The city is a customer of the DWC, and has executed a Water Supply Contract with the DWC for a term ending in 2024. The contract provides that the city pay its proportionate share of "fixed costs" (debt service and capital costs) to DWC, such obligation being unconditional and irrevocable whether or not water is ever delivered . The city capitalized these costs until such time as the DWC began to deliver water and is amortizing them using the straight-line method over the remaining term of the contract. After water began to be delivered, these costs are being expensed along with the other "operation and maintenance" charges from DWC. Future commitments under the contract are $435,106 per year for fiscal years ending 2013-2017.

These amounts are the city's proportionate share of the "fixed costs" and are estimates which have been calculated using the city's current allocation percentage of 6.09%. In future years, the allocation percentage will be subject to change. Estimates for the remaining years of the contract are not currently available . However, the city does not expect the minimum amounts for the remaining years of the contract to materially vary from the amounts presented above.

Economic Development Agreements

The city has entered into an economic development agreement with a furniture company in downtown Wheaton to provide sales tax rebates and economic incentives. The city's agreement with the furniture company, Toms-Price Company, requires the city to rebate sales tax to the retail furniture company and reimburse certain qualifying expenditures each year beginning on October 1, 2001, limited to a maximum amount of $1,800,000.

The following is a summary of incentives paid and incurred:

Incentives Earned and Cumulative

Incentives Paid Paid' in Year Incentives Incentives through May 1 , Ended April Payable at April Incurred at April

2011 30, 2012 30. 2012 30, 2012

Toms-Price Co. ~ 1.494.685 ~ 31.138 ~ - ~ 1.525.823

~ 1,494.685 ~ 31 .138 $ - ~ 1.525.823

Page 71

CITY OF WHEATON



D. OTHER POSTEMPLOYMENT BENEFITS

The city provides postemployment healthcare 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 City and can be amended by the City 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 City's governmental and business-type activities.

Benefits Provided

The City provides continued health insurance coverage at the active employer rate to all eligible employees in accordance with Illinois statutes, which creates an implicit subsidy of retiree health insurance. To be eligible for benefits, an employee must qualify for retirement under of the City's retirement plans. Upon a retiree reaching age 65, Medicare becomes the primary insurer.

Summary of Significant Accounting Policies

Basis of Accounting. The plan's financial statements are prepared using the accrual basis of accounting. Plan member contributions are recognized in the period in which the contributions are due. Employer contributions to the plan are recognized when due and the employer has made a formal commitment to provide the contributions . Benefits and refunds are recognized when due and payable in accordance with the terms of the plan.

Method Used to Value Investments. Plan Investments are reported at fair value . Short-term investments are reported at cost, which approximated fair value. Investments that do no have an established market are reported at estimated fair values.

Membership

Member of the plan consisted of the following at April 30, 2012, the date of the latest actuarial valuation:

Retirees and beneficiaries receiving benefits Terminated plan members entitled to but not

yet receiving benefits Active plan members

Total

Number of participating employers

Funding Policy

30

124 65

219

The City is not required to and currently does not advance fund the cost of benefits that will become due and payable in the future. Active employees do not contribute to the plan until retirement.

Page 72

CITY OF WHEATON



D. OTHER POSTEMPLOYMENT BENEFITS (cont.)

The city's annual other postemployment benefit (OPES) cost (expense) is calculated based on the annual required contribution of the employer (ARC), an amount actuarially determined in accordance with parameters of GASS Statement No. 45. The ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover normal costs each year and amortize any unfunded actuarial liabilities (or funding excess) over a period not to exceed thirty years. The following table shows the components of the city's annual OPES cost for the year, the amount actually contributed to plan, and changes in the city's net OPES obligation to the Retiree Health Plan:

Annual required contribution Interest on net OPES obligation Adjustment to annual required contribution

Annual OPES cost Contributions made

Increase in net OPES obligation (asset)

Net OPES Obligation (Asset) - Seginning of Year

Net OPES Obligation (Asset) - End of Year

$

$

163,340 6,109

(5.091 )

164,358 (122.313)

42,045

152,719

194,764

The city's annual OPES cost, the percentage of annual OPES cost contributed to the plan, and the net OPES obligation for 2012 and the two preceding years were as follows:

Percentage of Annual OPES

Annual OPES Cost Net OPES Fiscal Year Ended Cost Contributed Obligation

April 30, 2010 $ 86,697 70.5% $ 109,861 April 30, 2011 165,171 78.6% 145,204 April 30, 2012 164,358 74.4% 194,764

Page 73

CITY OF WHEATON



D. OTHER POSTEMPLOYMENT BENEFITS (cont.)

The funded status of the plan as of April 30, 2012, the most recent actuarial valuation date, 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

$

$

$

2,870,357

2,870,357

-%

15,896,519

18%

Actuarial valuations of an ongoing plan involve estimates for 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 healthcare cost trend. Amounts determined regarding the funded status of the plan and 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.

Projections of benefits for financial reporting purposes are based on the substantive plan (the plan is 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 benefit costs between the employer and plan members to that point. The methods and assumptions used include techniques that are designed to reduce shortterm volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long-term perspective of the calculations .

In the April 30, 2012 actuarial valuation, the entry age actuarial cost method was used. The actuarial assumptions include a 4% investment rate of return and an annual healthcare cost trend rate of 8% initially, reduced by decrements to an ultimate rate of 6%. Both rates include a 3% inflation assumption. The actuarial value of Retiree Health Plan assets was determined using techniques that spread the effects of short-term volatility in the market value of investments over a three-year period . The plan's unfunded actuarial accrued liability is being amortized as a level percentage of projected payroll on an open basis . The amortization period at April 30, 2012, was 30 years.

E. SUBSEQUENT EVENTS

On July 26, 2012 the city issued general obligation library refunding bonds in the amount of $17,920,000 with an interest rate of 1.50-3.00%. This amount will be used to advance refund the 2004 bonds.

Page 74

CITY OF WHEATON



E. SUBSEQUENT EVENTS (cont.)

On July 26, 2012 the city issued taxable general obligation refunding bonds in the amount of $930,000 with an interest rate of 0.35-2.00%. This amount will be used to current refund the 1998A bonds.

F. eFFECT OF NEW ACCOUNTING STANDARDS ON CURRENT-PERIOD FINANCIAL STATEMENTS

The Governmental Accounting Standards Board (GASB) has approved GASB Statement No. 61, The Financial Reporting Entity: Omnibus; Statement No. 62, Codification of Accounting and Financial Reporting Guidance Contained in Pre-November 30, 1989 FASB and AICPA Pronouncements; Statement No. 63, Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position; and Statement No. 64, Derivative Instruments: Application of Hedge Accounting Termination Provisions - an amendment of GASB Statement No. 53; Statement No. 67, Financial Reporting for Pension Plans - an amendment of GASB Statement No. 25; and Statement No. 68, Accounting and Financial Reporting for Pensions - and amendment to GASB Statement No. 27. Application of these standards may restate portions of these financial statements.

Page 75

CITY OF WHEATON

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL

GENERAL FUND For the Year Ended April 30, 2012

With Comparative Actual Amounts for the Year Ended April 30, 2011

2012 Budgeted Amounts

Variance with 2011 Original Final Actual Final Budget Actual

REVENUES Taxes $ 32,603,796 $ 32,603,796 $ 32,736,008 $ 132,212 $ 32,554,627 Licenses and permits 423,655 423,655 472,355 48,700 453,334 Intergovernmental 243,629 243,629 371,077 127,448 205,117 Public charges for services 2,902,975 2,902,975 3,138,705 235,730 2,541,129 Fines, forfeitures and

penalties 532,125 532,125 683,295 151,170 631,108 Investment income 100,000 100,000 69,064 (30,936) 56,157 Miscellaneous 283,796 283,796 329,789 45.993 282,545

Total Revenues 37,089,976 37.089,976 37,800.293 710,317 36,724,017

EXPENDITURES

GENERAL GOVERNMENT Mayor, Council and Clerk 275,341 282,841 348,510 65,669 487,727 Boards and Commissions 52,000 52,000 56,962 4,962 29,979 Senior citizen programs 162,500 162,500 135,443 (27,057) 129,347 Office of the City Manager 696,179 696,179 747,770 51,591 774,328 Legal services 383,900 383,900 330,435 (53,465) 296,629 Finance 1,285,214 1,285,214 1,216,261 (68,953) 1,147,375 Human resources 396,054 396,054 396,979 925 384,466 Information technology 792,129 792,129 799,391 7,262 782,444 Communications 453,473 453,473 427,025 (26,448) 432,161 Planning and economic

development 580,938 580,938 495,169 (85,769) 481,419 Engineering 724,730 724,730 730,555 5,825 699,466 Building and code

enforcement 851,354 851,354 862,579 11,225 847,771 Building and grounds 360,429 360,429 340,527 (19,902) 337,231 Administrative

reimbursement from other funds (1,107,134) (1,107,134) (1,107,134) (1,113,601)

Total General Government 5,907,107 5,914,607 5,780,472 (134,135) 5,716,742

See independent auditors' report and accompanying notes to required supplementary information. Page 76

CITY OF WHEATON

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - CONTINUED




Variance with Final 2011

Original Final Actual Budget Actual

PUBLIC SAFETY Police protection

Administration $ 713,597 $ 713,597 $ 699,221 $ (14,376) $ 721,050 Investigations 1,825,242 1,825,242 1,825,774 532 1,770,135 Traffic patrol 8,097,383 8,097,383 8,158,444 61,061 7,786,529 General services 385,096 385,096 352,615 (32,481 ) 316,848 Support services 1,457,301 1,457,301 1,371,418 (85,883) 1,359,383 Police station

maintenance 98,851 98,851 86,383 (12,468) 85,120 School crossing guards 136,442 136,442 129,287 (7.155) 130,372

Total police protection 12,713,912 12,713,912 12,623,142 (90,770) 12,169,437

Fire protection Administration 1,091,499 1,091,499 1,065,945 (25,554) 1,026,182 Firefighting/investigation 5,355,125 5,355,125 5,365,879 10,754 5,031,209 Communications 213,590 213,590 206,451 (7,139) 208,347 Homeland security 14,151 14,151 9,026 (5,125) 13,602 Medical/rescue 1,470,263 1,470,263 1,460,367 (9,896) 1,589,621 Fire Station Number 1

maintenance 41,361 41,361 36,587 (4,774) 29,731 Fire Station Number 2

maintenance 22,278 22,278 18,519 (3,759) 19,025 Fire Station Number 3

maintenance 25,102 25,102 18,611 (6,491 ) 22,482 Foreign fire insurance 56,545 56,545 33,326 (23,219) 68,503 Wireless alarm network 513,742 513,742 481,496 (32.246) 101,766

Total fire protection 8,803,656 8,803,656 8,696,207 (107.449) 8,110,468 Total Public

Safety 21,517,568 21,517,568 21,319,349 (198,219) 20,279,905

See independent auditors' report and accompanying notes to required supplementary information . Page 77

CITY OF WHEATON






Original Final Actual Budget Actual

HIGHWAYS AND STREETS Adm inistration $ 445,299 $ 445,299 $ 477,970 $ 32,671 $ 437,424 Public works building

maintenance 117,109 117,109 91,627 (25,482) 131,472 Special events 231,552 231,552 201,016 (30,536) 210,493 Streams subdivision

maintenance 12,552 12,552 12,180 (372) 9,654 Traffic signs and lines 576,273 576,273 562,176 (14,097) 542,382 Street lights and traffic

signals 588,527 588,527 565,814 (22,713) 550,302 Snow and ice control 1,152,008 1,152,008 828,380 (323,628) 1,221,947 General street repair 1,182,731 1,182,731 1,096,405 (86,326) 1,197,318 Street and sidewalk repairs 453,750 453,750 349,725 (104,025) 265,192 Street cleaning 381,649 381,649 397,562 15,913 365,778 Forestry operations 875,978 875,978 927,083 51,105 805,525 Public grounds 631,318 631,318 612,362 (18,956) 615,640 Metra train station 52,915 52,915 39,199 (13,716) 49,220 Capital improvements 185,000 185,000 53,943 (131,057)

Total Highways and Streets 6,886,661 6,886,661 6,215,442 (671 ,219) 6,402,347

CULTURE AND RECREATION

MuniCipal band 99,472 99,472 97,757 (1 ,715) 99,516

Total Expenditures 34,410,808 34,418,308 33,413,020 (1,005,288) 32,498,510

Excess of revenues over expenditures 2,679,168 2,671,668 4,387,273 1,715,605 4,225,507

See independent auditors' report and accompanying notes to required supplementary information, Page 78

CITY OF WHEATON



With Comparative Actual Amounts for the Year Ended April 30,2011


Variance with Final

Original Final Actual Budget

OTHER FINANCING SOURCES (USES)

Sale of city property $ 500 $ 500 $ 3,884 $ 3,384 Transfers out (500.000) (500,000) (500.000)

Total Other Financing Sources (Uses) (499,500) (499,500) (496,116) 3,384

Net Change in Fund Balance $ 2,179,668 $ 2,172,168 3,891,157 $ 1,718.989

FUND BALANCE - Beginning of Year 13.259,030

FUND BALANCE - END OF YEAR ~ 17,150,187

2011 Actual

$ 4,326 (500,000)

(495,674)

3,729,833

9,529,197

§13,259,030


CITY OF WHEATON


TAX INCREMENT FINANCING #2 FUND For the Year Ended April 30, 2012




REVENUES Property tax $ 1,535,867 $ 1,535,867 $ 1,587,096 $ 51 ,229 $ 1,588,190 Investment income 2.750 2,750 1,338 (1,412) 2,037

Total Revenues 1.538.617 1,538,617 1,588,434 49,817 1,590,227

EXPENDITURES Current:

Contractual services 60,000 60,000 56,492 (3,508) 20,390 Consultant services 90,000 90,000 26,250 (63,750) 27,482 Redevelopment loan

program 75,000 75,000 67,101 (7,899) 88,828 Interest 3,500 3,500 885 (2,615) 3,123

Total Expenditures 228,500 228,500 150,728 (77,772) 139,823

Excess of revenues over expenditures 1,310,117 1,310,117 1,437,706 127,589 1,450,404


Sale of city property 198,022 198,022 Transfers in 500,000 500,000 500,000 500,000 Transfers out (743,194) (743,194) (743.194) (739,850)

Total Other Financing Sources (Uses) (243,194) (243,194) (45,172) 198,022 (239,850)

Net Change in Fund Balance $ 1,066,923 $ 1,066,923 1,392,534 $ 325,611 1,210,554

FUND BALANCE (DEFICIT) -Beginning of Year (485,940) (1 ,696,494)

FUND BALANCE (DEFICIT) - END OF

$ YEAR 906,594 $ (485,940)


CITY OF WHEATON

ILLINOIS MUNICIPAL RETIREMENT FUND SCHEDULE OF EMPLOYER'S CONTRIBUTIONS AND SCHEDULE OF FUNDING PROGRESS


Annual Actuarial Required Percentage Valuation Employer Contribution of ARC Net Pension

Date Contributions (ARC) Contributed Obligation

12/31/11 $ 1,379,976 $ 1,379,976 100.00% $ 12/31/10 1,252,028 1,252,028 100.00% 12/31/09 1,089,722 1,089,722 100.00% 12/31/08 1,077,046 1,077,046 100.00% 12/31/07 1,046,644 1,046,644 100.00% 12/31/06 1,017,427 1,017,427 100.00%

Actuarial UAAL as a Actuarial Actuarial Accrued Percentage Valuation Value of Liability (AAL) Unfunded Funded Covered of Covered

Date Assets Entry Age AAL (UAAL) Ratio Payroll Payroll

12/31/11 $ 28,744,213 $ 38,718,549 $ 9,974,336 74.24% $10,430,654 95.63% 12/31/10 29,910,892 39,067,859 9,156,967 76.56% 10,574,557 86.59% 12/31/09 27,357,574 38,004,188 10,646,614 71.99% 12,041 ,127 88.42% 12/31/08 28,859,726 36,369,652 7,509,926 79.35% 11,927,422 62.96% 12/31/07 33,366,406 34,711,853 1,345,447 96.12% 11,206,040 12.01% 12/31/06 31,627,549 32,916,214 1,288,665 96.09% 10,706,603 12.04%

The information presented in the above required supplementary schedule was determined as part of the actuarial valuation at the date indicated. Additional information as of the latest actuarial valuation can be found in the notes to basic financial statements.

Valuation date Actuarial cost method Amortization method

Remaining amortization period Asset valuation method Actuarial assumptions:

Investment rate of return Projected salary increases

Inflation factor Cost of living adjustments

12/31/2009 Entry Age normal Level percentage of projected payroll, open 30 Market, 5 year smoothed

7.50% .40%-10.00% 4.00% 3.00%


CITY OF WHEATON

POLICE PENSION FUND SCHEDULE OF EMPLOYER'S CONTRIBUTIONS AND SCHEDULE OF FUNDING PROGRESS



Date Contributions Cost (ARC) Contributed Obligation

04/30/12 $ 1,913,209 $ 1,913,209 100.00% $ (902,977) 04/30/11 1,887,986 1,887,986 100.00% (874,360) 04/30/10 1,650,000 1,623,894 101.61% (854,068) 04/30109 1,500,000 1,465,881 102.33% (807,321 ) 04/30108 1,350,000 1,266,549 106.59% (752,707) 04/30107 1,250,000 1,190,068 105.04% (650,545)

Actuarial UAAL as a Actuarial Actuarial Accrued Percentage Valuation Value of Liability (AAL) Unfunded AAL Funded Covered of Covered

Date Assets Entry Age (UAAL) Ratio Payroll Payroll

04/30/12 $ 39,625,033 $ 61,841,101 $ 22,216,068 64.10% $ 6,047,038 367.39% 04/30/11 37,118,126 59,321,090 22,202,964 62.57% 5,820,884 381.44% 04/30/10 32,934,145 54,023,077 21,088,932 60.96% 5,845,074 360.80% 04/30109 29,460,982 50,967,216 21,506,234 57.80% 5,877,452 365.91% 04/30108 31 ,550,999 48,063,860 16,512,861 65.64% 5,824,986 283.48% 04/30107 30,470,882 45,447,379 14,976,497 67.05% 5,348,156 280.03%


Valuation date Actuarial cost method Amortization method Remaining amortization period Asset valuation method Actuarial assumptions:



4/30/2012 Entry Age normal Level percentage of pay, closed 29 years Market

7.25% 6.00% 3.00% 3.00%


CITY OF WHEATON

FIREFIGHTERS' PENSION FUND SCHEDULE OF EMPLOYER'S CONTRIBUTIONS AND SCHEDULE OF FUNDING PROGRESS



Date Contributions Cost (ARC) Contributed Obligation

04/30/12 $ 948,469 $ 948,469 100.00% $ (1,187,637) 04/30/11 982,397 982,397 100.00% (1 , 149,998 ) 04/30/10 775,000 772,718 100.29% (1,123,310) 04/30109 850,000 679,223 125.14% (1,093,082) 04/30108 850,000 637,074 133.42% (897,082) 04/30107 800,000 681,243 117.43% (665,783)

Actuarial UAAL as a Actuarial Actuarial Accrued Percentage Valuation Value of Liability (AAL) Unfunded Funded Covered of Covered

Date Assets Entry Age AAL (UAAL) Ratio Payroll Payroll

04/30/12 $ 20,824,163 $ 28,464,172 $ 7,640,009 73.16% $ 3,307,774 230.97% 04/30/11 19,329,642 26,762,254 7,432,612 72.23% 3,149,949 235.96% 04/30/10 16,907,969 24,253,790 7,345,821 69.71% 2,994,407 245.32% 04/30109 14,430,591 22,817,118 8,386,527 63.24% 2,908,545 288.34% 04/30108 15,766,592 21,056,647 5,290,055 74.88% 2,789,353 189.65% 04/30107 14,902,991 19,175,409 4,272,418 77.72% 2,530,205 168.86%





4/30/2012 Entry Age normal Level percentage of pay, closed 29 years Market

7.25% 6.00% 3.00% 3.00%

See independent auditors' report and accompanying notes to required supplementary information . Page 83

CITY OF WHEATON

OTHER POST EMPLOYMENT BENEFIT PLAN SCHEDULE OF EMPLOYER'S CONTRIBUTIONS AND SCHEDULE OF FUNDING PROGRESS


Annual Required Percentage

Employer Contribution of ARC Net Pension Fiscal Year Contributions Cost (ARC) Contributed Obligation

04/30/12 $ 122,313 $ 163,340 74.88% $ 194,764 04/30/11 122,313 163,340 74.88% 152,719 04/30/10 61,156 85,292 70.50% 109,861 04/30109 43,492 79,697 54.57% 84,320

Actuarial Accrued UAAL as a

Actuarial Actuarial Liability Percentage Valuation Value of (AAL) Entry Unfunded Funded Covered of Covered

Date Assets Age AAL (UAAL) Ratio Payroll Payroll

04/30/12 $ $ 2,870,357 $ 2,870,357 -% $15,896,519 18.06% 04/30/10 2,219,906 2,219,906 -% 21,995,745 10.09% 04/30109 1,101,654 1,101,654 -% 21 ,995,745 5.01% 04/30108 915,221 915,221 -% 23,599,824 3.88%

*The city implemented GASB Statement No. 45 for the fiscal year ended April 30, 2008. Information for prior years is not available.





4/30/2012 Entry Age normal Level percentage of pay, open 30 years Market

4.00% 4.00% 8.00% initial, 6.00% ultimate 3.00%


CITY OF WHEATON

NOTES TO REQUIRED SUPPLEMENTARY INFORMATION For the Year Ended April 30, 2012

BUDGETARY INFORMATION

Budgetary information is derived from the annual operating budget and is presented using generally accepted accounting principles and the modified accrual basis of accounting.

Budgets

Budgets are adopted on a basis consistent with generally accepted accounting principles. Annual appropriated budgets are adopted (at the fund level) for the General, Special Revenue, Debt Service, Capital Projects, Enterprise, Internal Service, and Police and Firefighters' Pension Trust Funds. The annual appropriated budget is legally enacted and provides for a legal level of control at the fund level. All annual appropriations lapse at fiscal year end .

All departments of the city submit requests for appropriations to the City Manager so that a budget may be prepared . The budget is prepared by fund, function and activity and includes information on the past year, current year estimates and requested appropriations for the next fiscal year.

The proposed budget is presented to the governing body for review. The governing body holds public hearings and may add to, subtract from or change appropriations, but may not change the form of the budget. Management may transfer budget amounts between functions and activities. However, transfers between funds and increas.es in total funds must be approved by the governing body. Expenditures may not legally exceed budgeted appropriations at the fund level. During the year, budget amendments were adopted and are reflected in these financial statements.

See independent auditors' report. Page 85

SUPPLEMENTARY INFORMATION

CITY OF WHEATON

COMPARATIVE BALANCE SHEET GENERAL FUND

As of April 30, 2012 and 2011

2012 2011

ASSETS Cash and investments $ 13,288,775 $ 8,837,971 Receivables (net)

Property taxes 12,489,730 12,590,589 Accrued interest 10,091 Utility taxes 791,635 756,348 Notes 54,534 62,221 Accounts 713,034 326,773

Due from other governments 3,981,655 3,527,709 Due from other funds 14,069 4,471 Advances to other funds 926,652 1,925,767 Prepaid Items 19,197 12,795

TOTAL ASSETS $ 32,279,281 $ 28,054,735

LIABILITIES AND FUND BALANCE Liabilities

Accounts payable $ 539,353 $ 589,522 Contracts payable 10,313 Wages payable 641,166 511,300 Contributions payable 101,591 94,698 Deposits payable 808,661 848,619 Due to other governments 76,211 40,346 Deferred revenue 462,069 120,631 Deferred property taxes 12,489,730 12,590,589

Total Liabilities 15,129,094 14,795,705

Fund Balance Nonspendable for prepaid items 19,197 12,795 Nonspendable for long-term receivable 54,534 62,221 Nonspendable for advances to other funds 926,652 1,925,767 Restricted for public safety 160,822 138,545 Assigned for compensated absences 2,789,031 4,041,972 Assigned for municipal band equipment 110,432 110,167 Unassigned 13,089,519 6,967,563

Total Fund Balance 17,150,187 13,259,030

TOTAL LIABILITIES AND FUND BALANCE $ 32,279,281 $ 28,054,735

Page 86

CITY OF WHEATON

SCHEDULE OF REVENUES - BUDGET AND ACTUAL GENERAL FUND

For the Year Ended April 30, 2012 with Comparative Actual Amounts for the Year Ended April 30, 2011



Original Final Actual Budget Actual TAXES

Property tax $ 8,826,417 $ 8,826,417 $ 8,950,139 $ 123,722 $ 8,749,720 Property tax-fire pension 948,469 948,469 948,469 982,397 Property tax-police pen 1,913,209 1,913,209 1,913,209 1,887,986 Township road and bridge 644,563 644,563 649,156 4,593 625,063 Property tax SSA # 3 18,000 18,000 18,184 184 24,736 Property tax SSA # 6 212,638 212,638 210,590 (2,048) 219,689 Prior property tax 500 500 1,719 1,219 8,573 Personal property

replacement tax 235,000 235,000 211,349 (23,651 ) 227,179 Sales tax 5,740,000 5,740,000 5,661,133 (78,867) 5,665,826 Local sales tax 3,720,000 3,720,000 3,638,935 (81,065) 3,654,432 Use tax 645,000 645,000 771,677 126,677 794,435 Income tax 4,200,000 4,200,000 4,332,413 132,413 4,320,601 Utility taxes 5,100,000 5,100,000 4,829,821 (270,179) 4,959,741 Real estate transfer tax 400,000 400,000 599.214 199,214 434,249

Total Taxes 32,603,796 32,603,796 32.736.008 132,212 32,554,627

LICENSES AND PERMITS Liquor licenses 92,000 92,000 99,523 7,523 100,292 Business licenses 15,000 15,000 19,715 4,715 19,445 Tobacco licenses 3,125 3,125 3,375 250 3,125 Building permits 185,000 185,000 199,212 14,212 195,183 Electrical permits 20,000 20,000 29,289 9,289 24,741 Heating and air

conditioning permits 17,000 17,000 24,726 7,726 25,672 Plumbing permits 12,240 12,240 15,031 2,791 17,087 Fire code inspection fees 4,590 4,590 7,938 3,348 5,350 Curb and approach

permits 7,000 7,000 13,515 6,515 10,125 Sign permits 6,500 6,500 8,800 2,300 6,325 Miscellaneous permits 61 ,200 61,200 51,231 (9,969) 45,989

Total Licenses and Permits 423,655 423,655 472,355 48,700 453.334

INTERGOVERNMENTAL Grant revenue 243.629 243,629 371,077 127,448 205.117

Page 87

CITY OF WHEATON

SCHEDULE OF REVENUES - BUDGET AND ACTUAL - CONTINUED GENERAL FUND




PUBLIC CHARGES FOR SERVICES

Electrical registrations $ 10,000 $ 10,000 $ 11,595 $ 1,595 $ 11,725 Sewer and drain

inspections 10,000 10,000 10,575 575 11,925 Elevator inspections 25,000 25,000 33,020 8,020 31,737 Engineering fees and costs 70,000 70,000 59,263 (10,737) 61,591 Land vacation fees 700 Public hearing and

rezoning 15,000 15,000 14,240 (760) 10,091 Rental income 300,000 300,000 271,706 (28,294) 260,152 Franchise fees 680,000 680,000 710,045 30,045 687,624 Wheaton sanitary district

fee 24,000 24,000 24,000 24,000 DuPage Co. Sanitary

District 5,700 5,700 5,692 (8) 5,693 Photocopy fees 400 400 359 (41 ) 304 Outside police services 110,000 110,000 122,869 12,869 115,233 Police report fees 5,000 5,000 13,484 8,484 4,741 Police department

fingerprinting fees 1,500 1,500 2,420 920 1,500 Outside fire protection 20,000 20,000 25,357 5,357 25,528 2% fire insurance rev. 56,545 56,545 55,142 (1,403) 56,545 CPR course payments 2,180 2,180 2,965 785 2,278 Ambulance service 890,000 890,000 1,128,668 238,668 918,215 Public works services 25,750 25,750 47,640 21,890 26,956 Annual tree program 8,500 8,500 9,570 1,070 8,950 Alarm monitoring fee 642,600 642,600 580,600 (62,000) 274,310 Recycling income 800 800 9,495 8.695 1,331

Total Public Charges for Services 2,902,975 2,902,975 3,138,705 235.730 2,541,129

FINES AND FORFEITS Police fines - standing

violations 135,000 135,000 131,901 (3,099) 133,825 Court fines - moving

violations 394,625 394,625 441,509 46,884 352,638 Narcotic fines - restitution 500 500 597 97 645 Liquor license fines 1,000 1,000 3,000 2,000 Tobacco license fines 1,000 1,000 (1 ,000) 4,000 Property code violations 106,288 106.288 140,000

Total Fines and Forfeits 532,125 532,125 683,295 151 .170 631,108

Page 88

CITY OF WHEATON

SCHEDULE OF REVENUES - BUDGET AND ACTUAL - CONTINUED GENERAL FUND




INVESTMENT INCOME Investment income $ 100,000 $ 100,000 $ 69,064 $ (30,936) $ 56,157

MISCELLANEOUS Miscellaneous revenues 40,000 40,000 100,664 60,664 45,648 Miscellaneous revenues -

police 20,000 20,000 19,023 (977) 13,154 School liaison revenue 211,796 211 ,796 197,085 (14,711 ) 210,977 Library reimbursement 12,000 12,000 13,017 1,01 7 12.766

Total Miscellaneous 283,796 283,796 329,789 45,993 282.545

TOTAL REVENUES $ 37,089,976 $ 37,089,976 ~ 37,800,293 ~ 710,317 ~ 36,724,017

Page 89

CITY OF WHEATON

SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL -GENERAL FUND

For the Year Ended April 30, 2012 With Comparative Actual Amounts for the Year Ended April 30, 2011



GENERAL GOVERNMENT Mayor, Council and Clerk

Regular salaries $ 23,000 $ 23,000 $ 23,000 $ - $ 22,715 Employer FICA 1,763 1,763 1,739 (24) 1,738 Unemployment insurance 4,937 4,937 4,620 Dues and subscriptions 43,500 43,500 42,546 (954) 42,327 Meetings and conferences 6,000 6,000 2,516 (3,484) 1,534 Contingencies 700 700 247 (453) 423 Contractual services 3,915 3,915 4,227 312 9,855 Consultant services 97,170 97,170 167,922 70,752 307,775 Postage 800 800 696 (104) 939 Printing 4,200 4,200 3,453 (747) 4,504 Communications 500 500 443 (57) 402 Supplies and materials 1,400 1,400 791 (609) 1,085 Health insurance 59,074 59,074 59,074 56,652 Liability insurance 3,319 3,319 3,319 3,158 Civic services 30.000 37.500 33,600 (3,900) 30,000

Total Mayor, Council and Clerk 275.341 282.841 348,510 65,669 487,727

Boards and Commissions Fire and police commission 28,000 28,000 38,955 10,955 7,251 Community relations comm. 3,000 3,000 124 (2,876) 2,949 Environmental improvement

commission 18,500 18,500 16,234 (2,266) 18,883 Liquor commission 500 500 411 (89) 411 Historic commission 1,000 1,000 1,129 129 368 Sister city commission 1,000 1,000 109 (891) 117

Total Boards and Commissions 52,000 52,000 56,962 4,962 29,979

Senior Citizen Programs Contractual services 75,000 75,000 48,023 (26,977) 46,339 Community assistance 87,500 87,500 87,420 (80) 83,008

Total Senior Citizen Programs 162,500 162,500 135.443 (27.057) 129,347

Page 90

CITY OF WHEATON

SCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL - CONTINUED GENERAL FUND




Office of the City Manager Regular salaries $ 487,131 $ 487,131 $ 540,521 $ 53,390 $ 559,837 Sick leave buy-back 2,388 2,388 2,854 466 2,975 Employer FICA 30,337 30,337 34,206 3,869 35,465 Employer IMRF pension 68,028 68,028 70,261 2,233 77,928 Dues and subscriptions 7,000 7,000 4,940 (2,060) 5,175 Meetings and conferences 6,200 6,200 2,921 (3,279) 2,284 Contractual services 4,465 4,465 4,782 317 4,395 Equipment maintenance 200 200 (200) Advertising 3,000 3,000 97 (2,903) 1,283 Postage 800 800 760 (40) 1,180 Printing 400 400 339 (61 ) 265 Communications 4,560 4,560 4,986 426 4,521 Supplies and materials 1,800 1,800 1,233 (567) 1,274 Health insurance 53,148 53,148 53,148 50,987 liability insurance 14,934 14,934 14,934 14,211 Vehicle rental 11,788 11,788 11,788 12,548

Total Office of the City Manager 696,179 696,179 747,770 51 .591 774,328

Legal Services Contractual services 173,000 173,000 173,252 252 173,000 litigation costs 30,000 30,000 15,818 (14,182) 17,582 Consultant services 180,900 180,900 141,365 (39,535) 106.047

Total Legal Services 383,900 383,900 330,435 (53,465) 296.629

Page 91

CITY OF WHEATON




Variance with 2011 Original Final Actual Final BUdget Actual

Finance Regular salaries $ 657,141 $ 657,141 $ 607,584 $ (49,557) $ 573,750 Auto allowance 135 135 114 (21) 88 Sick leave buy-back 2,847 2,847 1,977 (870) 1,827 Employer FICA 49,791 49,791 44,535 (5,256) 42,606 Employer IMRF pension 91,719 91,719 77,572 (14,147) 69,017 Training 3,000 3,000 200 (2,800) 40 Dues and subscriptions 1,510 1,510 1,550 40 1,320 Meetings and conferences 900 900 (900) Contractual services 237,282 237,282 253,672 16,390 227,859 Equipment maintenance 3,510 3,510 2,226 (1,284) 3,510 Consultant services 46,010 46,010 40,314 (5,696) 41,455 Advertising 2,500 2,500 2,430 (70) 2,123 Postage 12,500 12,500 10,345 (2,155) 15,445 Printing 4,700 4,700 3,891 (809) 3,503 Communications 4,320 4,320 4,111 (209) 3,831 Supplies and materials 4,200 4,200 2,591 (1,609) 4,786 Health insurance 129,963 129,963 129,963 124,634 Liability insurance 33,186 33,186 33,186 31,581

Total Finance 1,285,214 1,285,214 1,216,261 (68.953) 1,147,375

Human Resources Regular salaries 203,813 203,813 211,902 8,089 208,742 Part time wages 53,816 53,816 55,828 2,012 55,776 Medical physicals 8,000 8,000 9,518 1,518 9,721 Em ployee relations 15,000 15,000 12,505 (2,495) 8,863 Sick leave buy-back 832 832 1,109 277 824 Employer FICA 19,638 19,638 20,214 576 19,928 Employer IMRF pension 35,920 35,920 34,653 (1,267) 32,028 Training 7,200 7,200 2,113 (5,087) 2,546 Dues and subscriptions 955 955 1,289 334 725 Meetings and conferences 1,800 1,800 1,570 (230) 1,184 Contractual services 7,565 7,565 6,477 (1,088) 5,869 Advertising 500 500 (500) 456 Postage 500 500 123 (377) 149 Printing 1,200 1,200 339 (861 ) 269 Com munications 600 600 586 (14) 532 Supplies and materials 900 900 938 38 633 Health insurance 29,518 29,518 29,518 28,326 Liability insurance 8,297 8,297 8,297 7,895

Total Human Resources 396,054 396,054 396,979 925 384,466

Page 92

CITY OF WHEATON





Information Technology Regular salaries $ 340,253 $ 340,253 $ 342,345 $ 2,092 $ 336,129 Part time wages 24,254 24,254 24,820 566 16,961 Sick leave buy-back 250 250 1,150 900 247 Employer FICA 27,126 27,126 26,942 (184) 26,163 Employer IMRF pension 47,318 47,318 43,760 (3,558) 40,509 Unemployment insurance 4,248 Training 699 Dues and subscriptions 230 230 250 20 250 Meetings and conferences 400 400 1,490 1,090 343 Contractual services 94,644 94,644 100,731 6,087 110,567 Equipment maintenance 3,000 3,000 2,865 (135) 3,453 Consultant services 6,000 6,000 12,247 6,247 5,622 Postage 630 630 122 (508) 666 Communications 43,860 43,860 47,567 3,707 38,152 Supplies and materials 20,000 20,000 10,938 (9,062) 17,821 Health insurance 70,889 70,889 70,889 67,982 Liability insurance 13,275 13,275 13,275 12,632 Capital equipment

replacement 100,000 100,000 100.000 100,000 Total Information

Technology 792,129 792.129 799.391 7,262 782,444

Communications Regular salaries 235,920 235,920 222,080 (13,840) 219,780 Part time wages 28,500 28,500 23,889 (4,611 ) 25,294 Sick leave buy-back 814 814 609 (205) 603 Employer FICA 20,290 20,290 18,509 (1 ,781) 18,315 Employer IMRF pension 32,898 32,898 28,561 (4,337) 26,175 Unemployment insurance 7,890 7,890 10,766 Training 3,000 3,000 1,089 (1 ,911) Dues and subscriptions 2,555 2,555 2,585 30 2,058 Meetings and conferences 500 500 (500) Contractual services 20,41 7 20,417 20,344 (73) 29,700 Equipment maintenance 1,500 1,500 (1,500) 226 Postage 300 300 406 106 76 Printing 840 840 (840) 396 Communications 2,370 2,370 2,222 (148) 2,340 Supplies and materials 4,750 4,750 1,242 (3,508) 2,153 Health insurance 59,074 59,074 59,074 56,652 Liability insurance 13,275 13,275 13,275 12,632 Capital equipment

replacement 24,970 24,970 24,970 24,970 Special programming 1,500 1,500 280 (1.220) 25

Total Communications 453,473 453,473 427,025 (26,448) 432,161 Page 93

CITY OF WHEATON





Planning and Economic Development

Regular salaries $ 160,317 $ 160,317 $ 166,327 $ 6,010 $ 158,730 Employer FICA 12,265 12,265 12,569 304 12,075 Employer IMRF pension 22,279 22,279 21,528 (751 ) 19,360 Unemployment insurance 174 174 1,703 Dues and subscriptions 1,365 1,365 976 (389) 1,160 Meetings and conferences 750 750 1,754 1,004 563 Postage 3,000 3,000 918 (2,082) 719 Printing 800 800 188 (612) 133 Communications 1,050 1,050 1,026 (24) 926 Supplies and materials 2,955 2,955 2,586 (369) 364 Health insurance 35,444 35,444 35,444 33,991 Liability insurance 6,637 6,637 6,637 6,316 Vehicle rental 1,035 1,035 1,035 2,754 Consultant services 100,000 100,000 3,500 (96,500) 6,306 Contractual services 233.041 233,041 240,507 7,466 236,319

Total Planning and Economic Development 580.938 580,938 495,169 (85,769) 481,419

Engineering Regular salaries 454,804 454,804 467,819 13,015 447,320 Part time wages 8,000 8,000 6,977 (1,023) 5,511 Uniform allowance 100 100 (100) Sick leave buy-back 928 928 450 (478) Employer FICA 34,844 34,844 35,033 189 33,616 Employer IMRF pension 63,333 63,333 59,963 (3,370) 53,792 Unemployment insurance 3,249 3,249 11,661 Training 1,000 1,000 (1,000) 125 Dues and subscriptions 1,450 1,450 1,378 (72) 1,237 Meetings and conferences 1,500 1,500 625 (875) 375 Contractual services 11,953 11,953 12,138 185 11,227 Consultant services 5,000 5,000 1,880 (3,120) 340 Postage 1,000 1,000 1,428 428 859 Printing 1,000 1,000 180 (820) 327 Communications 6,690 6,690 6,524 (166) 6,283 Supplies and materials 1,500 1,500 1,283 (217) 637 Health insurance 94,518 94,518 94,518 90,643 Liability insurance 16,593 16,593 16,593 15,791 Capital equipment

replacement 2,667 2,667 2,667 2,667 Vehicle rental 17.850 17,850 17,850 17,055

Total Engineering 724.730 724,730 730,555 5,825 699,466

Page 94

CITY OF WHEATON





Building and Code Enforcement

Regular salaries $ 533,021 $ 533,021 $ 534,472 $ 1,451 $ 531,512 Sick leave buy-back 879 879 (879) 754 Employer FICA 40,844 40,844 39,509 (1,335) 39,678 Employer IMRF pension 74,194 74,194 67,789 (6,405) 63,683 Unemployment insurance 169 169 1,651 Training 2,000 2,000 1,860 (140) 1,835 Dues and subscriptions 3,088 3,088 3,036 (52) 2,304 Meetings and conferences 300 300 284 (16) 95 Contractual services 18,378 18,378 28,323 9,945 24,976 Equipment maintenance 500 500 (500) Consultant services 38,000 38,000 48,177 10,177 50,106 Postage 600 600 559 (41 ) 516 Printing 1,200 1,200 1,682 482 1,922 Communications 6,980 6,980 5,679 (1,301) 5,442 Supplies and materials 1,800 1,800 1,470 (330) 1,063 Health insurance 94,518 94,518 94,518 90,643 Liability insurance 23,230 23,230 23,230 22,107 Vehicle rental 11,822 11,822 11,822 9.484

Total Building and Code Enforcement 851,354 851,354 862,579 11,225 847.771

Buildings and Grounds Regular salaries 126,823 126,823 129,687 2,864 125,574 Regular wages 50,124 50,124 48,582 (1,542) 49,142 Uniform allowance 1,034 1,034 325 (709) 377 Employer FICA 13,537 13,537 13,566 29 13,209 Employer IMRF pension 24,323 24,323 23,228 (1,095) 21,057 Contractual services 51,002 51,002 49,527 (1,475) 52,605 Communications 1,842 1,842 1,160 (682) 2,034 Gas for heating 9,000 9,000 3,316 (5,684) 3,543 Repairs 5,000 5,000 5,445 445 7,800 Supplies and materials 6,800 6,800 4,747 (2,053) 5,591 Health insurance 36,124 36,124 36,124 34,639 Liability insurance 9,997 9,997 9,997 9,655 Vehicle rental 9,276 9,276 9,276 6,458 Consultant services 10,000 10,000 (10,000) Capital equipment

replacement 5,547 5.547 5,547 5.547 Total Buildings and

Grounds 360,429 360.429 340,527 (19,902) 337.231

Page 95

CITY OF WHEATON





TOT AL GENERAL GOVERNMENT $ 7,014,241 $ 7,021,741 $ 6,887,606 $ (134,135) $ 6,830,343

Administrative reimbursement from other funds 1,107,134 1,107,134 1.107.134 1.113,601

NET GENERAL GOVERNMENT 5,907,107 5,914,607 5.780.472 (134,135) 5,716,742

PUBLIC SAFETY

Police Protection

Police Administration Regular salaries 355,488 355,488 354,614 (874) 349,716 Support salaries 60,227 60,227 63,528 3,301 59,634 Holiday Pay 1,031 1,031 Special response pay 700 700 1,427 727 697 Court time pay 1,024 1,024 1,026 2 1,014 Firearms incentive 60 60 39 (21 ) 15 Uniform allowance 2,650 2,650 1,036 (1,614) 220 Sick leave buy-back 682 682 8 (674) 676 Employer FICA 9,942 9,942 9,848 (94) 9,538 Employer IMRF pension 8,691 8,691 8,243 (448) 7,332 Employer pension 88,302 88,302 88,302 84,536 Unemployment insurance 14,245 Training 13,500 13,500 338 (13,162) 3,924 Dues and subscriptions 1,710 1,710 1,215 (495) 1,360 Meetings and conferences 180 180 527 347 443 Contractual services 16,360 16,360 15,200 (1,160) 15,428 Postage 3,500 3,500 2,376 (1,124) 2,226 Printing 500 500 130 (370) 267 Supplies and materials 15,200 15,200 15,458 258 21,442 Health insurance 94,518 94,518 94,518 90,643 Liability insurance 13,275 13,275 13,275 12,632 Vehicle rental 24,588 24,588 24,588 43,717 Police community

assistance 2,500 2,500 2,494 (6) 1,345 Total Police

Administration 713,597 713,597 699,221 (14,376) 721,050

Page 96

CITY OF WHEATON





Police Investigations Regular salaries $ 961,458 $ 961,458 $ 961,254 $ (204) $ 939,843 Support salaries 55,153 55,153 56,266 1,113 54,600 Overtime wages 7,500 7,500 14,153 6,653 7,320 Holiday pay 30,350 30,350 30,454 104 31,161 Special response pay 18,000 18,000 14,260 (3,740) 13,823 Court time pay 18,153 18,153 15,450 (2,703) 15,884 Firearms incentive 660 660 558 (102) 582 Prep time 31,407 31,407 31,286 (121 ) 29,643 Uniform allowance 8,800 8,800 12,960 4,160 9,803 Sick leave buy-back 3,824 3,824 4,146 322 5,059 Employer FICA 16,474 16,474 15,692 (782) 15,286 Employer IMRF pension 7,665 7,665 6,720 (945) 6,225 Employer pension 323,774 323,774 323,774 338,147 Training 9,500 9,500 8,748 (752) 2,193 Dues and subscriptions 450 450 305 (145) 225 Meetings and conferences 400 400 149 (251 ) 10 Contractual services 20,600 20,600 16,534 (4,066) 17,894 Equipment rental 377 377 395 18 377 Consultant services 700 700 (700) 225 Communications 1,560 1,560 1,595 35 1,594 Supplies and materials 2,000 2,000 4,472 2,472 2,918 Health insurance 200,814 200,814 200,814 192,617 Liability insurance 43,142 43,142 43,142 37,897 Vehicle rental 48,786 48,786 48,786 38,224 Routine investigations 13,695 13,695 13,861 166 8.585

Total Police Investigations 1,825,242 1,825,242 1,825,774 532 1.770.135

Page 97

CITY OF WHEATON





Police Traffic Patrol Regular salaries $ 4,268,806 $ 4,268,806 $ 4,345,765 $ 76,959 $ 4,146,105 Support salaries 55,146 55,146 55,897 751 54,600 Part time wages 93,838 93,838 74,920 (18,918) 75,073 Overtime wages 72,000 72,000 88,126 16,126 86,689 Holiday pay 165,396 165,396 161 ,161 (4,235) 154,811 Special response pay 56,000 56,000 63,821 7,821 46,060 Court time pay 148,024 148,024 103,329 (44,695) 117,698 Education incentive 65 Firearms incentive 3,000 3,000 2,376 (624) 2,604 Prep time 213,858 213,858 220,637 6,779 210,892 Uniform allowance 37,090 37,090 52,305 15,215 45,496 Sick leave buy-back 9,834 9,834 6,812 (3,022) 6,351 Employer FICA 78,611 78,611 77,334 (1 ,277) 72,935 Employer IMRF pension 8,128 8,128 7,142 (986) 6,585 Employer pension 1,501 ,133 1,501 ,133 1,501 ,133 1,465,303 Training 50,000 50,000 68,289 18,289 35,729 Dues and subscriptions 1,200 1,200 318 (882) 169 Meetings and conferences 1,000 1,000 31 (969) Contractual services 31,093 31,093 24,196 (6,897) 48,354 Equipment maintenance 1,750 1,750 922 (828) 568 Communications 9,600 9,600 9,204 (396) 10,412 Supplies and materials 19,125 19,125 23,751 4,626 28,070 Health insurance 767,887 767,887 767,887 736,477 Liability insurance 175,887 175,887 175,887 167,384 Vehicle rental 317,053 317,053 317,053 268,099 Operating equipment 11,924 11,924 10.148 (1,776)

Total Police Traffic Patrol 8,097,383 8,097,383 8.158,444 61,061 7,786,529

Page 98

CITY OF WHEATON





Police General Services Regular salaries $ 202,297 $ 202,297 $ 196,063 $ (6,234) $ 162,133 Overtime wages 2,675 2,675 684 (1,991) 3,939 Holiday pay 8,122 8,122 7,717 (405) 5,831 Uniform allowance 1,400 1,400 2,069 669 1,462 Sick leave buy-back 309 309 (309) 204 Employer FICA 16,326 16,326 14,941 (1,385) 12,496 Employer IMRF pension 29,654 29,654 25,650 (4,004) 20,178 Training 2,500 2,500 150 (2,350) 2,507 Contractual services 10,820 10,820 1,300 (9,520) 3,986 Supplies and materials 1,500 1,500 180 (1,320) 389 Health insurance 59,074 59,074 59,074 56,652 Liability insurance 13,275 13,275 13,275 12,632 Vehicle rental 31,144 31,144 31,144 34,439 Postage 2,000 2,000 268 (1,732) Printing 4.000 4,000 100 (3.900)

Total Police General Services 385.096 385,096 352,615 (32,481 ) 316,848

Police Support Services Support salaries 372,030 372,030 366,978 (5,052) 346,741 Part time wages 8,060 Overtime wages 12,000 12,000 3,672 (8,328) 19,082 Holiday pay 15,015 15,015 14,497 (518) 13,883 Uniform allowance 2,780 2,780 1,592 (1,188) 1,576 Sick leave buy-back 309 309 (309) 301 Employer FICA 30,551 30,551 28,520 (2,031 ) 28,554 Employer IMRF pension 55,496 55,496 48,981 (6,515) 45,202 Training 2,000 2,000 108 (1,892) 602 Dues and subscriptions 75 75 50 (25) 240 Contractual services 633,932 633,932 620,668 (13,264) 609,852 Equipment maintenance 12,144 12,144 6,952 (5,192) 6,950 Radio maintenance 32,000 32,000 5,214 (26,786) 18,345 Printing 5,000 5,000 3,571 (1,429) 2,947 Communications 44,140 44,140 38,811 (5,329) 36,905 Photographic supplies 1,000 1,000 6 (994) 6 Supplies and materials 29,025 29,025 22,239 (6,786) 16,785 Health insurance 106,333 106,333 106,333 101,974 Liability insurance 23,230 23,230 23,230 22,107 Capital equipment

replacement 78,741 78,741 78,741 78,741 Police community

assistance 1.500 1,500 1,255 (245) 530 Total Police Support

Services 1,457,301 1.457.301 1,371,418 (85,883) 1.359,383 Page 99

CITY OF WHEATON





Police Station Maintenance Regular wages $ 3,019 $ 3,019 $ 4,489 $ 1,470 $ 2,812 Overtime wages 188 188 Employer FICA 232 232 358 126 226 Employer IMRF pension 266 266 487 221 157 Contractual services 64,206 64,206 53,501 (10,705) 65,111 Gas for heating 10,000 10,000 3,715 (6,285) 1,029 Repairs 8,900 8,900 10,776 1,876 3,159 Supplies and materials 11,300 11,300 11,941 641 11,602 Health insurance 830 830 830 801 Liability insurance 98 98 98 223

Total Police Station Maintenance 98.851 98,851 86,383 (12,468) 85,120

School Crossing Guards Part time wages 120,000 120,000 113,855 (6,145) 110,931 Employer FICA 9,180 9,180 8,454 (726) 8,486 Contractual services 4,091 Supplies and materials 625 625 341 (284) 548 Liability Insurance 6,637 6,637 6,637 6,316

Total School Crossing Guards 136,442 136,442 129,287 (7,155) 130,372

Total Police Protection 12,713,912 12,713,912 12,623,142 (90,770) 12,169,437

Page 100

CITY OF WHEATON





Fire Protection Fire Administration

Regular salaries $ 543,539 $ 543,539 $ 552,221 $ 8,682 $ 530,228 Part time wages 11,877 11,877 10,739 (1,138) 6,637 Overtime wages 15,000 15,000 2,853 (12,147) 84,280 Holiday pay 12,850 12,850 12,893 43 12,390 Firefighter replacement 95,000 95,000 80,361 (14,639) 27,338 Uniform allowance 2,500 2,500 5,258 2,758 1,303 Medical physicals 1,835 1,835 2,021 186 4,201 Employee relations 2,200 2,200 1,271 (929) 479 Sick leave buy-back 944 944 851 (93) Employer FICA 8,428 8,428 8,039 (389) , 7,543 Employer pension 124,799 124,799 124,799 139,485 Training 2,910 2,910 1,411 (1,499) 1,040 Dues and subscriptions 3,500 3,500 3,573 73 3,142 Meetings and conferences 2,025 2,025 582 (1,443) 596 Contractual services 26,228 26,228 30,326 4,098 16,584 Equipment maintenance 500 500 (500) Postage 1,500 1,500 133 (1,367) 186 Printing 2,000 2,000 249 (1,751) 536 Communications 36,039 36,039 36,570 531 31,928 Repairs 600 600 (600) 590 Supplies and materials 13,500 13,500 8,070 (5,430) 5,209 Health insurance 94,518 94,518 94,518 90,643 Liability insurance 16,593 16,593 16,593 15,791 Capital equipment

replacement 72.614 72,614 72,614 46,053 Total Fire Administration 1.091,499 1,091,499 1,065,945 (25,554) 1.026,182

Page 101

CITY OF WHEATON





Firefighting/lnvestigation Regular salaries $ 2,735,075 $ 2,735,075 $ 2,619,246 $ (115,829) $ 2,492,554 Overtime wages 39,600 39,600 84,885 45,285 41,204 Holiday pay 110,088 110,088 103,051 (7,037) 99,290 Education incentive 650 650 (650) Firefighter replacement 396,000 396,000 548,617 152,617 399,494 Uniform allowance 53,790 53,790 20,188 (33,602) 25,456 Medical physicals 9,225 9,225 9,586 361 5,631 Sick leave buy-back 5,341 5,341 729 (4,612) 5,822 Employer FICA 42,857 42,857 42,739 (118) 38,300 Employer pension 823,670 823,670 823,670 842,912 Life insurance 4,000 4,000 2,914 (1,086) 2,914 Training 21,490 21,490 1,923 (19,567) 4,702 Meetings and conferences 1,000 1,000 (1,000) 40 Contractual services 6,700 6,700 5,577 (1,123) 5,406 Repairs 5,600 5,600 3,169 (2,431 ) 1,071 Supplies and materials 23,165 23,165 22,711 (454) 17,449 Health insurance 460,740 460,740 460,740 441,886 Liability insurance 109,515 109,515 109,515 104,217 Vehicle rental 506,619 506,619 506.619 502.861

Total Firefighting/ Investigation 5,355,125 5,355,125 5.365.879 10,754 5,031,209

Fire Communications Contractual services 196,756 196,756 197,306 550 195,708 Radio maintenance 3,834 3,834 3,834 3,834 Repairs 2,000 2,000 2,035 35 2,071 Supplies and materials 3,000 3,000 419 (2,581 ) 1,047 Communications equipment 8,000 8,000 2,857 (5,143) 5,687

Total Fire Communications 213,590 213,590 206,451 (7,139) 208,347

Homeland Security Training 3,000 3,000 46 (2,954) Dues and subscriptions 300 300 (300) Contractual services 46 Communications 2,470 2,470 2,546 76 2,244 Repairs 500 500 360 (140) 2,424 Supplies and materials 7,881 7,881 6,074 (1.807) 8.888

Total Homeland Security 14,151 14,151 9,026 (5.125) 13.602

Page 102

CITY OF WHEATON





Medical/Rescue Contractual services $ 1,287,254 $ 1,287,254 $ 1,283,169 $ (4,085) $ 1,279,554 Communications 3,060 3,060 264 (2,796) 1,281 Repairs 4,500 4,500 (4,500) 2,056 Supplies and materials 12,581 12,581 11.253 (1,328) 13,451 Vehicle rental 147,058 147,058 147,058 293,279 Communications equipment 15.810 15,810 18,623 2,813

Total Medical/Rescue 1,470.263 1,470,263 1,460,367 (9,896) 1.589,621

Fire Station Number 1 Maintenance

Regular wages 2,590 2,590 1,237 (1 ,353) 1,845 Employer FICA 198 198 95 (103) 141 Employer IMRF pension 214 214 158 (56) 182 Contractual services 8,825 8,825 8,573 (252) 9,566 Gas for heating 3,000 3,000 1,151 (1 ,849) 1,158 Repairs 7,000 7,000 17,862 10,862 7,638 Supplies and materials 9,190 9,190 7,167 (2,023) 8,888 Health Insurance 264 264 264 245 Liability Insurance 80 80 80 68 Consultant Services 10,000 10,000 (10,000)

Total Fire Station Number 1 Maintenance 41,361 41 ,361 36,587 (4,774) 29,731


Regular wages 2,446 2,446 474 (1 ,972) 954 Employer FICA 187 187 36 (151 ) 73 Employer IMRF pension 214 214 62 (152) 79 Contractual services 4,810 4,810 5,380 570 6,845 Gas for heating 1,700 1,700 585 (1,115) 580 Repairs 5,700 5,700 7,034 1,334 2,136 Supplies and materials 6,650 6,650 4,377 (2,273) 7,772 Health Insurance 491 491 491 458 Liability Insurance 80 80 80 128

Total Fire Station Number 2 Maintenance 22,278 22,278 18.519 (3,759) 19,025

Page 103

CITY OF WHEATON






Regular wages $ 3,849 $ 3,849 $ 1,681 $ (2,168) $ 3,996 Employer FICA 295 295 129 (166) 303 Employer IMRF pension 364 364 220 (144) 455 Contractual services 3,930 3,930 4,427 497 4,281 Gas for heating 4,500 4,500 3,267 (1,233) 4,626 Repairs 5,300 5,300 3,195 (2,105) 1,685 Supplies and materials 6,200 6,200 5,028 (1,172) 6,488 Health Insurance 528 528 528 507 Liability Insurance 136 136 136 141

Total Fire Station Number 3 Maintenance 25,102 25,102 18,611 (6,491 ) 22,482

Foreign Fire Insurance Training 12,000 12,000 (12,000) 2,267 Supplies and materials 1,000 1,000 241 (759) 222 Operating equipment 43,545 43,545 33,085 (10,460) 66,014

Total Foreign Fire Insurance 56,545 56,545 33,326 (23,219) 68,503

Wireless Alarm Network Contractual services 176,663 176,663 146,097 (30,566) 101,766 Communications 1,680 1,680 (1,680) Alarm Network 335,399 335,399 335,399

Total Wireless Alarm Network 513,742 513,742 481 ,496 (32.246) 101,766

Total Fire Protection 8,803,656 8,803,656 8.696.207 (107.449) 8,110,468 Total Public Safety 21,517,568 21,517,568 21,319.349 (198,219) 20,279,905

Page 104

CITY OF WHEATON





HIGHWAYS AND STREETS Administration

Regular salaries $ 191,388 $ 191 ,388 $ 219,515 $ 28,127 $ 191,900 Part time wages 31,830 31,830 30,304 (1,526) 28,750 Uniform allowance 11 ,325 11,325 11,698 373 9,737 Sick leave buy-back 934 934 541 (393) 846 Employer FICA 17,148 17,148 17,984 836 16,299 Employer IMRF pension 26,728 26,728 28,403 1,675 23,150 Unemployment insurance 6,859 6,859 15,300 Training 2,000 2,000 892 (1,108) 826 Dues and subscriptions 1,250 1,250 1,001 (249) 1,315 Meetings and conferences 1,050 1,050 971 (79) 901 Contractual services 31,482 31,482 35,068 3,586 32,998 Postage 1,350 1,350 1,235 (115) 1,269 Printing 825 825 151 (674) 163 Communications 11 ,830 11,830 11,314 (516) 11,865 Supplies and materials 11 ,700 11,700 7,575 (4,125) 6,787 Health insurance 64,963 64,963 64,963 62,317 Liability insurance 8,297 8,297 8,297 7,895 Capital equipment

replacement 6,807 6,807 6,807 6,807 Vehicle rental 24,392 24,392 24,392 18.299

Total Administration 445,299 445,299 477,970 32,671 437.424

Public Works Building Maintenance

Regular wages 14,784 14,784 4,239 (10,545) 7,102 Overtime wages 108 Employer FICA 1,131 1,131 322 (809) 551 Employer IMRF pension 1,121 1,121 504 (617) 769 Unemployment insurance 4,783 4,783 11,990 Contractual services 26,692 26,692 31 ,546 4,854 35,792 Gas for heating 38,000 38,000 18,214 (19,786) 34,290 Repairs 7,800 7,800 3,122 (4,678) 11,005 Supplies and materials 7,750 7,750 9,066 1,316 11,448 Health insurance 3,473 3,473 3,473 3,323 Liability insurance 478 478 478 926 Vehicle rental 15,880 15,880 15,880 14.168

Total Public Works Building Maintenance 117,109 117,109 91 ,627 (25,482) 131.472

Page 105

CITY OF WHEATON





Special Events Regular wages $ 92,288 $ 92,288 $ 60,333 $ (31,955) $ 76,412 Overtime wages 6,994 6,994 13,616 6,622 12,348 Employer FICA 7,593 7,593 5,589 (2,004) 6,404 Employer IMRF pension 12,619 12,619 9,249 (3,370) 9,547 Contractual services 6,580 6,580 6,251 (329) 4,895 Supplies and materials 21,750 21,750 22,250 500 19,212 Health insurance 15,363 15,363 15,363 14,735 Liability insurance 4,347 4,347 4,347 4,107 Vehicle rental 64,018 64.018 64.018 62,833

Total Special Events 231,552 231.552 201.016 (30,536) 210,493

Streams Subdivision Maintenance

Contractual services 12.552 12,552 12,180 (372) 9,654 Total Streams

Subdivision Maintenance 12.552 12,552 12,180 (372) 9,654

Traffic Signs and Lines Regular wages 287,907 287,907 293,988 6,081 269,616 Overtime wages 4,227 4,227 4,370 143 4,018 Employer FICA 22,347 22,347 22,468 121 20,702 Employer IMRF pension 39,169 39,169 37,844 (1,325) 32,257 Contractual services 20,000 20,000 20,320 320 19,000 Tools 3,000 3,000 1,153 (1,847) 2,277 Road materials 29,902 29,902 29,611 (291 ) 33,000 Supplies and materials 72,000 72,000 54,701 (17,299) 61,655 Health insurance 49,411 49,411 49,411 47,386 Liability insurance 14,072 14,072 14,072 13,208 Vehicle rental 34,238 34,238 34,238 39,263

Total Traffic Signs and Lines 576,273 576,273 562,176 (14,097) 542.382

Page 106

CITY OF WHEATON





Street Lights and Traffic Signals

Regular salaries $ 60,143 $ 60,143 $ 62,708 $ 2,565 $ 60,684 Regular wages 92,459 92,459 111,034 18,575 102,758 Overtime wages 5,929 5,929 5,332 (597) 6,486 Employer FICA 12,130 12,130 13,605 1,475 12,963 Employer IMRF pension 21,764 21,764 23,349 1,585 20,815 Contractual services 32,360 32,360 25,775 (6,585) 16,784 Communications 460 460 430 (30) 590 Electricity 220,360 220,360 181 ,355 (39,005) 209,975 Tools 2,000 2,000 969 (1 ,031) 2,068 Supplies and materials 15,545 15,545 16,549 1,004 17,083 Health insurance 24,422 24,422 24,422 23,418 Liability insurance 7,020 7,020 7,020 6,527 Capital equipment

replacement 599 599 599 599 Vehicle rental 61,060 61 ,060 61 ,060 62,444 Street lighting materials 32,276 32.276 31 ,607 (669) 7.108

Total Street Lights and Traffic Signals 588,527 588.527 565,814 (22,713) 550,302

Snow and Ice Control Regular wages 295,528 295,528 127,501 (168,027) 271,969 Overtime wages 108,626 108,626 44,419 (64,207) 147,243 Employer FICA 30,920 30,920 13,085 (17,835) 31 ,540 Employer IMRF pension 55,678 55,678 22,227 (33,451 ) 53,545 Contractual services 18,300 18,300 65,266 46,966 69,614 Consultant services 1,700 1,700 1,500 (200) Repairs 35,000 35,000 21 ,623 (13,377) 41,205 Road materials 298,939 298,939 225,844 (73,095) 322,108 Supplies and materials 950 950 548 (402) 539 Health insurance 53,827 53,827 53,827 51 ,635 Liability insurance 14,969 14,969 14,969 14,392 Vehicle rental 237,571 237,571 237,571 218.157

Total Snow and Ice Control 1,152,008 1,152,008 828,380 (323,628) 1.221.947

Page 107

CITY OF WHEATON





General Street Repair Regular wages $ 311,189 $ 311,189 $ 295,614 $ (15,575) $ 371,275 Overtime wages 2,434 2,434 1,927 (507) 2,850 Sick leave buy-back 923 Employer FICA 23,993 23,993 22,510 (1,483) 28,243 Employer IMRF pension 40,482 40,482 36,134 (4,348) 43,368 Road materials 257,595 257,595 193,182 (64,413) 219,503 Health insurance 68,096 68,096 68,096 65,297 Liability insurance 13,139 13,139 13,139 18,200 Vehicle rental 465,803 465,803 465.803 447,659

Total General Street Repair 1,182,731 1,182,731 1.096,405 (86,326) 1,197,318

Street and Sidewalk Repairs Regular wages 109,551 109,551 146,510 36,959 124,144 Overtime wages 4,990 4,990 6,858 1,868 6,227 Sick leave buy-back 787 787 822 35 144 Employer FICA 8,825 8,825 11,648 2,823 9,840 Employer IMRF pension 15,695 15,695 19,860 4,165 15,625 Contractual services 156,079 156,079 54,849 (101,230) Dump fees 7,500 7,500 4,764 (2,736) 4,176 Tools 4,000 4,000 1,262 (2,738) 1,781 Road materials 47,276 47,276 5,592 (41,684) 5,850 Supplies and materials 11,090 11,090 9,603 (1,487) 8,157 Health insurance 41,710 41,710 41 ,710 39,996 Liability insurance 5,266 5,266 5,266 4,828 Vehicle rental 40.981 40,981 40,981 44,424

Total Street and Sidewalk Repairs 453,750 453,750 349,725 (104,025) 265,192

Street Cleaning Regular wages 119,522 119,522 134,479 14,957 127,129 Overtime wages 125 Employer FICA 9,143 9,143 10,325 1,182 9,563 Employer IMRF pension 16,608 16,608 17,755 1,147 15,099 Contractual services 20,000 20,000 20,800 800 15,200 Dump fees 35,000 35,000 32,827 (2,173) 33,003 Health insurance 21 ,969 21,969 21,969 21 ,054 Liability insurance 6,166 6,166 6,166 5,868 Vehicle rental 153,241 153,241 153,241 138,737

Total Street Cleaning 381,649 381,649 397,562 15,913 365,778

Page 108

CITY OF WHEATON





Forestry Operations Regular salaries $ 122,112 $ 122,112 $ 127,543 $ 5,431 $ 120,905 Regular wages 300,597 300,597 352,470 51,873 279,567 Overtime wages 7,351 7,351 7,892 541 10,227 Uniform allowance 6,675 6,675 4,178 (2,497) 6,019 Sick leave buy-back 939 939 1,588 649 1,150 Employer FICA 32,970 32,970 37,363 4,393 31,353 Employer IMRF pension 57,640 57,640 62,222 4,582 48,880 Training 1,400 1,400 1,559 159 1,292 Dues and subscriptions 500 500 667 167 718 Contractual services 20,000 20,000 13,015 (6,985) 9,192 Dump fees 800 800 (800) Tools 3,600 3,600 3,026 (574) 2,645 Repairs 4,000 4,000 3,692 (308) 3,941 Tree purchases 23,000 23,000 17,578 (5,422) 10,764 Supplies and materials 3,000 3,000 2,896 (104) 2,628 Health insurance 81,005 81,005 81,005 77,700 Liability insurance 19,455 19,455 19,455 18,499 Vehicle rental 190,934 190,934 190,934 180.045

Total Forestry Operations 875,978 875,978 927,083 51,105 805,525

Public Grounds Regular wages 294,381 294,381 303,706 9,325 308,960 Overtime wages 6,957 6,957 1,123 (5,834) 7,032 Employer FICA 23,056 23,056 23,070 14 23,895 Employer IMRF pension 38,856 38,856 37,313 (1,543) 36,700 Contractual services 65,221 65,221 41,238 (23,983) 44,844 Equipment maintenance 1,680 1,680 1,676 (4) 1,733 Tools 3,200 3,200 4,561 1,361 2,609 Repairs 2,200 2,200 1,777 (423) 1,806 Supplies and materials 33,700 33,700 35,831 2,131 27,391 Health insurance 51,676 51,676 51,676 49,565 Liability insurance 14,177 14,177 14,177 13,815 Vehicle rental 96,214 96.214 96,214 97.290

Total Public Grounds 631,318 631.318 612,362 (18,956) 615.640

Page 109

CITY OF WHEATON





Metra Train Station Regular wages $ 6,796 $ 6,796 $ 3,250 $ (3,546) $ 1,961 Overtime wages 92 Employer FICA 519 519 249 (270) 157 Employer IMRF pension 806 806 291 (515) 197 Contractual services 28,022 28,022 22,443 (5,579) 33,766 Communications 2,301 Gas for heating 3,000 3,000 1,497 (1 ,503) 1,830 Repairs 3,800 3,800 4,166 366 865 Supplies and materials 4,050 4,050 1,381 (2,669) 1,231 Health insurance 1,472 1,472 1,472 1,400 Liability insurance 302 302 302 390 Vehicle rental 4,148 4,148 4.148 5,030

Total Metra Train Station 52,915 52,915 39,199 (13,716) 49,220

Capital Improvements Construction 185,000 185,000 53,943 (131,057)

Total Capital Improvements 185,000 185,000 53,943 (131,057)

TOTAL HIGHWAYS AND STREETS 6,886,661 6.886,661 6,215,442 (671,219) 6,402,347

CUL TURE AND RECREATION Municipal Band

Uniform allowance 250 250 108 (142) Contingency 350 350 1,482 1,132 1,048 Contractual services 555 555 588 33 718 Contractual labor 93,967 93,967 94,513 546 95,698 Advertising 400 400 120 (280) Postage 800 800 252 (548) 1,045 Printing 500 500 (500) 669 Supplies and materials 1,150 1,150 390 (760) 338 Operating equipment 1,500 1,500 304 (1 .196)

Total Municipal Band 99,472 99,472 97,757 (1,715) 99,516 TOTAL CULTURE

AND RECREATION 99,472 99,472 97.757 (1.715) 99,516

TOTAL EXPENDITURES ~ 34,410,808 ~ 34,418,308 $ 33,413,020 ~ (1,005,288) $ 32,498,510

Page 110

CITY OF WHEATON

COMPARATIVE BALANCE SHEET TAX INCREMENT FINANCING #2 FUND


2012 2011


Property taxes 1,556,855 1,572,657

TOTAL ASSETS $ 3,400,138 $ 3,037,854


Accounts payable $ 10,037 $ 25,370 Deferred property taxes 1,556,855 1,572,657 Advances from other funds 926,652 1,925,767


Fund Balance Restricted for TIF development 906,594 Unassigned (deficit) (485,940)

Total Fund Balance 906,594 (485,940)


Page 111

CITY OF WHEATON






REVENUES Property tax $ 1,535,867 $ 1,535,867 $ 1,587,096 $ 51,229 $ 1,588,190 Investment income 2,750 2.750 1,338 (1,412) 2,037

Total Revenues 1,538,617 1.538.617 1,588,434 49,817 1.590,227

EXPENDITURES Current:

Contractual services 60,000 60,000 56,492 (3,508) 20,390 Consultant services 90,000 90,000 26,250 (63,750) 27,482 Redevelopment loan

program 75,000 75,000 67,101 (7,899) 88,828 Interest 3,500 3,500 885 (2,615) 3.123

Total Expenditures 228,500 228,500 150,728 (77,772) 139.823

Excess of revenues over expenditures 1,310.117 1.310,117 1,437,706 127,589 1,450,404


Sale of city property 198,022 198,022 Transfers in 500,000 500,000 500,000 500,000 Transfers out (743.194) (743,194) (743,194) (739,850)

Total Other Financing Sources (Uses) (243.194) (243,194) (45,172) 198.022 (239,850)

Net Change in Fund Balance $ 1 ,066,923 $ 1,066,923 1,392,534 $ 325,611 1,210,554

FUND BALANCE (DEFICIT) -Beginning of Year (485.940) (1,696,494)


~ $ (485,940) YEAR 906,594

Page 112

CITY OF WHEATON

COMPARATIVE BALANCE SHEET DEBT SERVICE FUND


2012 2011


Property taxes 3,490,709 3,539,772

TOTAL ASSETS $ 5,238,083 $ 5,250,770


Deferred property taxes $ 3,490,709 $ 3,539,772


Fund Balance Restricted for debt service 1,747,374 1,710,998

Total Fund Balance 1,747,374 1,710,998


Page 113

CITY OF WHEATON

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL -

DEBT SERVICE FUND For the Year Ended April 30, 2012




REVENUES Property tax $ 3,539,538 $ 3,539,538 $ 3,575,528 $ 35,990 $ 3,755,283 Investment income 10,000 10,000 1,313 (8,687) 3,498

Total Revenues 3,549,538 3,549,538 3,576,841 27,303 3,758,781

EXPENDITURES Debt Service

Principal 3,575,000 3,575,000 3,575,000 3,465,000 Interest and fiscal

charges 2,000,473 2,000,473 2,000,098 (375) 2,082,826 Total Expenditures 5,575.473 5,575.473 5,575,098 (375) 5,547,826

Excess (deficiency) of revenues over (under) expenditures (2,025,935) (2,025,935) (1,998,257) 27,678 (1,789,045)

OTHER FINANCING SOURCES

Transfers in 2,034,860 2,034,860 2,034,633 (227) 1,830,617 Total Other Financing

Sources 2,034,860 2,034,860 2,034,633 (227) 1,830,617

Net Change in Fund Balance $ 8,925 $ 8,925 36,376 $ 27.451 41 ,572

FUND BALANCE - Beginning of Year 1,710,998 1.669.426

FUND BALANCE - END OF YEAR $ 1,747,374 $ 1,710,998

Page 114

CITY OF WHEATON

COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS


Capital S~ecial Revenue Funds Projects Fund

Total 2010 General Nonmajor

Motor Fuel Tax Increment Tax Increment Obligation Governmental Tax Financing #1 Financing #3 Bond Funds

ASSETS Cash and investments $ 1,318,885 $ 893,949 $ - $ 4,283,488 $ 6,496,322 Receivables (net)

Property taxes 1,386,627 715,869 2,102,496 Accounts 102,688 218,011 320,699

TOTAL ASSETS $ 1 ,421,573 $ 2,280,576 $ 715,869 $ 4,501 ,499 $ 8,919,517

LIABILITIES AND FUND BALANCES

Liabilities Accounts payable $ 21,293 $ - $ 12,737 $ 76,135 $ 110,165 Contracts payable 2,366 2,366 Due to other funds 14,069 14,069 Deferred revenues 1,386,627 715,869 318,011 2,420,507

Total Liabilities 23,659 1.386,627 742,675 394,146 2,547,107

Fund Balances (Deficit) Restricted for highways

and streets 1,397,914 1,397,914 Restricted for TIF

development 893,949 893,949 Restricted for capital

construction and purchases 4,094,922 4,094,922

Assigned for capital construction and purchases 12,431 12,431

Unassigned (deficit) (26,806) (26.806) Total Fund Balances

(Deficit) 1,397.914 893,949 (26,806) 4,107,353 6.372.410

TOTAL LIABILITIES AND FUND BALANCES ~ 1,421,573 ~ 2,280,576 ~ 715,869 $ 4,501,499 $ 8,919,517

Page 115

CITY OF WHEATON

COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES

NON MAJOR GOVERNMENTAL FUNDS For the Year Ended April 30, 2012

Capital S12ecial Revenue Funds Projects Fund

Total 2010 General Nonmajor

Motor Fuel Tax Increment Tax Increment Obligation Governmental Tax Financing #1 Financing #3 Bond Funds

REVENUES Taxes $ - $ 1,492,606 $ 696,947 $ - $ 2,189,553 Intergovernmental 1,712,681 1,712,681 Investment income 565 727 83 2,745 4,120 Miscellaneous 448,917 555,623 1.004,540

Total Revenues 1,713,246 1 ,493,333 1,145.947 558,368 4.910,894

EXPENDITURES Current

General government 32,418 36,081 68,499 Highways and streets 1,752,278 1,752,278

Capital Outlay 659,273 659,273

Total Expenditures 1.752.278 32,418 36,081 659,273 2,480.050

Excess (deficiency) of revenues over expenditures (39.032) 1 ,460,915 1,109,866 (100.905) 2.430.844


Transfers in 500,000 500,000 Transfers out (1,422,338) (1,112,295) (2,534,633)

Total Other Financing Sources (Uses) 500.000 (1 ,422,338) (1 .112,295) (2.034.633)

Net Change in Fund Balances 460,968 38,577 (2,429) (100,905) 396,211

FUND BALANCES (DEFICIT) - Beginning of Year 936,946 855,372 (24,377) 4.208.258 5,976,199

FUND BALANCES (DEFICIT) - END OF

$ YEAR 1,397,914 ~ 893,949 ~ (26,806) ~ 4,107,353 $ 6,372,410

Page 116

CITY OF WHEATON


MOTOR FUEL TAX FUND For the Year Ended April 30, 2012




REVENUES INTERGOVERNMENTAL

Grant revenue $ - $ - $ 3,750 $ 3,750 $ MFT allotments 1,384,191 1,384,191 1,327,500 (56,691 ) 1,428,609 Other 481,308 481.308 381,431 (99,877) 240,653

Total intergovernmental 1,865,499 1.865.499 1.712,681 (152,818) 1,669,262

MISCELLANEOUS Investment income 3,500 3.500 565 (2,935) 980

Total Miscellaneous 3,500 3.500 565 (2,935) 980 Total Revenues 1,868,999 1 ,868.999 1,713,246 (155,753) 1,670,242

EXPENDITURES CURRENT

Highways and streets Project costs 1,920,000 1,920,000 1,752,278 (167,722) 1,91 6,778

Total Expenditures 1,920,000 1,920,000 1,752,278 (167,722) 1,916,778

Excess (deficiency) of revenues over expenditures (51,001 ) (51 .001 ) (39,032) 11,969 (246,536)

OTHER FINANCING SOURCES

Transfers in 500,000 500,000 500,000 500,000 Total Other Financing

Sources 500,000 500,000 500,000 500,000

Net Change in Fund Balance $ 448,999 $ 448,999 460,968 $ 11,969 253,464

FUND BALANCE - Beginning of Year 936,946 683,482

FUND BALANCE - END OF YEAR ~ 1,397,914 $ 936,946

Page 117

CITY OF WHEATON

DETAILED SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL -





REVENUES TAXES

Property tax $ 1,402,653 $ 1,402,653 $ 1,492,281 $ 89,628 $ 1,458,400 Prior property tax 325 325 Investment income 2,500 2,500 727 (1,773) 1,866

Total Revenues 1 ,405,153 1 ,405,153 1,493,333 88,180 1 ,460,266


General government Contractual services 10,000 10,000 535 (9,465) 1,913 Consultant services 50,000 50,000 (50,000) 4,482 Redevelopment loan

program 10,000 10,000 31,883 21,883 14,717 Total Expenditures 70,000 70,000 32,418 (37,582) 21,112

Excess of revenues over expenditures 1 ,335,153 1 ,335,153 1 ,460,915 125,762 1 ,439,154

OTHER FINANCING USES Transfers out (1,422,565) (1,422,565) (1,422,338) 227 (1,309,297)

Total Other Financing Uses (1 ,422,565) (1 ,422,565) (1,422,338) 227 (1 ,309,297)

Net Change in Fund Balance $ (87,412) $ (87,412) 38,577 $ 125,989 129,857

FUND BALANCE - Beginning of Year 855,372 725,515

FUND BALANCE - END OF YEAR $ 893,949 $ 855,372

Page 118

CITY OF WHEATON






REVENUES TAXES

Property tax $ 625,196 $ 625,196 $ 696,947 $ 71,751 $ 652,315 Investment income 100 100 83 (17) 409 Miscellaneous revenues 526.750 526,750 448,917 (77,833) 355,258

Total Revenues 1.152,046 1 ,152,046 1,145,947 (6.099) 1 ,007,982


General government Contractual services 10,000 21 ,158 21,158 24,983 Consultant services 14,923 14,923 2,857

Total Expenditures 10,000 36.081 36,081 27,840

Excess (deficiency) of revenues over expenditures 1,142,046 1,115,965 1,109,866 (6,099) 980,142

OTHER FINANCING USES Transfers out (1,112,295) (1 .112.295) (1 ,112,295) (1 .021,320)

Total Other Financing Uses (1 ,112,295) (1,112,295) (1 ,112,295) (1 ,021,320)

Net Change in Fund Balance $ 29,751 $ 3,670 (2,429) $ (6,099) (41 ,178)

FUND BALANCE (DEFICIT) -Beginning of Year (24,377) 16,801


$ (26,806) $ (24,377) YEAR

Page 119

CITY OF WHEATON


2010 GENERAL OBLIGATION BOND FUND For the Year Ended April 30, 2012



Variance with Original Final Actual Final Budget

REVENUES Investment income $ 20,000 $ 20,000 $ 2,745 $ (17,255) Miscellaneous 849.874 849,874 555.623 (294,251 )

Total Revenues 869.874 869,874 558,368 (311,506)

EXPENDITURES

CAPITAL OUTLAY ConSUltant services 450,000 450,000 475,884 25,884 Construction 2.250,000 2,250,000 183,389 (2,066,611 )

Total Expenditures 2.700,000 2,700,000 659,273 (2,040,727)

Net Change in Fund Balance $ (1,830,126) $ (1,830,126) (100,905) $ 1,729,221

FUND BALANCE - Beginning of Year 4,208,258

FUND BALANCE - END OF YEAR ~ 4,107,353

2011 Actual

$ 8,551 362,342 370,893

693,042 1,759,270 2,452,312

(2,081,419)

6,289,677

$ 4,208,258

Page 120

CITY OF WHEATON

PROJECT LENGTH SCHEDULE 2010 GENERAL OBLIGATION BOND FUND For the Year and Period Ended April 30, 2012

Current Inception Inception Through May 1 _ _ -'-Y.=..:ea::.:.r __ Through April 30

REVENUES AND OTHER FINANCING SOURCES Investment income Issuance of bonds Premium on issuance of bonds Miscellaneous revenue

Total Revenues and Other Financing Sources

EXPENDITURES AND OTHER FINANCING USES Consultant services Construction Bond issuance costs

Total Expenditures and Other Financing Uses

EXCESS OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER

$

FINANCING USES $

9,686 $ 6,000,000

230,767 1,678,377

7,918,830

1,147,503 2,487,843

75,226

3,710,572

4,208,258 $

2,745 $ 12,431 6,000,000

230,767 555 ,623 2,234,000

558 ,368 8,477,198

475,884 1,623,387 183,389 2,671,232

75,226

659,273 4,369,845

(100,905) ,,=$ __ 4~,=1 0;;.,.7...-,3_5_3

Page 121

CITY OF WHEATON

COMPARATIVE STATEMENT OF NET ASSETS WATERWORKS FUND


2012 2011

CURRENT ASSETS Cash and investments $ 2,782,578 $ 4,368,458 Receivables (net)

Accounts 838,562 960,112

Total Current Assets 3,621,140 5,328,570

NONCURRENT ASSETS Capital Assets

Capital assets not being depreciated 120,000 181 ,834 Capital assets being depreciated 37,899,474 36,746,034 Accumulated depreciation {25,178,864) (24,323,842)

Total Noncurrent Assets 12,840,610 12,604,026

Total Assets 16,461 ,750 17,932,596

CURRENT LIABILITIES Accounts payable 486,738 440,983 Contracts payable 116,063 6,183 Wages payable 26,007 18,642 Deposits payable 146,845 139,961 Compensated absences payable 85,628 78,434

Total Current Liabilities 861,281 684,203

LONG-TERM LIABILITIES Compensated absences payable 146,155 Other postemployment benefit payable 6,329 6,060

Total Long-Term Liabilities 6,329 152,215

Total Liabilities 867,610 836,418

NET ASSETS Invested in capital assets, net of related debt 12,840,610 12,604,026 Unrestricted 2,753,530 4,492,152

TOTAL NET ASSETS $ 15,594,140 $ 17,096,178

Page 122

CITY OF WHEATON

SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL WATERWORKS FUND - BUDGETARY BASIS


2012

Budgeted Amounts Variance with 2011

Original Final Actual Final Budget Actual

OPERATING REVENUES Metered water $ 6,068,805 $ 6,068,805 $ 5,925,890 $ (142,915) $ 5,202,242 Water for construction 795 795 570 (225) 765 Connection fees 3,400 3,400 2,730 (670) 3,070 Tap inspection fees 3,500 3,500 4,865 1,365 4,620 Water taps 50,000 50,000 49,675 (325) 65,050 New meters 12,000 12,000 11,024 (976) 10,935 Miscellaneous 45,000 45,000 82,919 37,919 49.388

Total Operating Revenues 6,183,500 6.183,500 6,077,673 (105,827) 5.336.070

OPERATING EXPENSES Administration

Regular salaries 183,447 183,447 184,448 1,001 182,660 Regular wages 32,146 32,146 44,038 11,892 43,368 Overtime wages 4,189 4,189 4,397 208 4,591 Educational reimbursement 1,564 Uniform allowance 8,310 8,310 8,224 (86) 7,751 Sick leave buy-back 1,025 1,025 2,224 1,199 1,470 Employer FICA 16,893 16,893 17,496 603 17,321 Employer IMRF pension 30,684 30,684 30,360 (324) 27,146 Training 3,500 3,500 1,254 (2,246) 2,311 Dues and subscriptions 825 825 795 (30) 721 Meetings and conferences 2,500 2,500 1,730 (770) 1,856 Contractual services 28,950 28,950 32,515 3,565 30,290 Postage 30,080 30,080 29,503 (577) 29,276 Printing 20,000 20,000 18,440 (1,560) 18,625 Comm unications 19,030 19,030 19,507 477 19,700 Supplies and materials 4,750 4,750 1,806 (2,944) 2,371 Administrative services 447,732 447,732 447,732 451,409 Health insurance 92,669 92,669 92,669 88,871 Liability insurance 9,512 9,512 9,512 8,917 Vehicle rental 4,490 4,490 4,490 4,609 Other postemployment

benefit 1,539 1,539 269 (1,270) 1,720 Compensated absences (138,961 ) (138,961 )

Total Administration 942,271 942,271 812,448 (129,823) 946,547

Page 123

CITY OF WHEATON

SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL - (Cont.) WATERWORKS FUND - BUDGETARY BASIS


Operations New Services

Regular wages Employer FICA Employer IMRF pension Meters Supplies and materials Health insurance Liability insurance Vehicle rental Overtime

Total New Services

Meter Service Regular wages Overtime wages Employer FICA Employer IMRF pension Contractual services Postage Printing Meters Repairs Supplies and materials Health insurance Liability insurance Vehicle rental

Total Meter Service

Building and Grounds Regular wages Overtime wages Employer FICA Employer IMRF pension Contractual services Gas for heating Supplies and materials Health insurance Liability insurance Vehicle rental Repairs

Total Building and Grounds


Original

$ 60,314 $ 4,617 8,313

21,050 42,663 10,984 3,119

12,716

163,776

103,270 1,789 8,035

14,600 14,260

750 1,400

140,920 7,000 5,200

19,402 5,401

27,675 349,702

34,114 928

2,677 4,455

80,710 15,000

7,510 4,907 1,548 8,227 7,000

167,076

Final

60,314 $ 4,617 8,313

21,050 42,663 10,984 3,119

12,716

163,776

103,270 1,789 8,035

14,600 14,260

750 1,400

140,920 7,000 5,200

19,402 5,401

27,675 349,702

34,114 928

2,677 4,455

80,710 15,000

7,510 4,907 1,548 8,227 7,000

167,076

Actual Variance with Final Budget

49,507 $ 3,688 6,314 7,866

15,058 10,984 3,119

12,716 3

109,255

96,346 1,417 7,273

12,460 9,441

340 1,333

23,704 3,900 4,195

19,402 5,401

27,675 212,887

19,708 265

1,512 2,080

77,427 7,925 5,320 4,907 1,548 8,227 3.453

132,372

(10,807) $ (929)

(1,999) (13,184) (27,605)

3 (54,521 )

(6,924) (372) (762)

(2,140) (4,819)

(410) (67)

(117,216) (3,100) (1,005)

(136.815)

(14,406) (663)

(1,165) (2,375) (3,283) (7,075) (2,190)

(3.547) (34.704)

2011 Actual

54,097 3,999 6,331

15,579 20,428 10,546 2,939

13,059

126.978

96,398 1,867 7,216

11,532 11,136

290 964

24,883 2,631 4,328

18,619 5,190

28.422 213.476

11,362 466 878

1,397 57,361

9,879 6,104 4,717 1,315 8,450 2.443

104,372

Page 124

CITY OF WHEATON



2012



Supply and Pumping Regular wages $ 94,556 $ 94,556 $ 92,478 $ (2,078) $ 95,877 Overtime wages 18,294 18,294 19,264 970 20,174 Employer FICA 8,633 8,633 8,351 (282) 8,569 Employer IMRF pension 15,679 15,679 14,277 (1,402) 13,822 Contractual services 4,237,125 4,237,125 4,209,907 (27,218) 3,599,072 Equipment maintenance 45,620 45,620 38,807 (6,813) 29,109 Postage 6,600 6,600 4,467 (2,133) 4,484 Electricity 140,000 140,000 128,019 (11,981) 137,430 Chemicals 1,350 1,350 1,120 (230) 1,238 Gas, oil, lubrication 6,450 6,450 5,973 (477) 7,387 Repairs 45,560 45,560 38,729 (6,831 ) 8,079 Supplies and materials 9,680 9,680 9,273 (407) 9,566 Health insurance 17,779 17,779 17,779 17,050 Liability insurance 4,739 4,739 4,739 4,752 Vehicle rental 15,708 15,708 15,708 16,131

Total Supply and Pumping 4,667,773 4,667,773 4,608,891 (58,882) 3,972,740

Distribution and Service Regular wages 247,909 247,909 214,767 (33,142) 183,860 Overtime wages 35,314 35,314 28,439 (6,875) 34,281 Employer FICA 21,668 21,668 18,082 (3,586) 16,154 Employer IMRF pension 38,772 38,772 30,607 (8,165) 25,457 Contractual services 9,100 9,100 1,211 (7,889) 37,686 Dump fees 6,900 6,900 4,632 (2,268) 4,176 Tools 3,200 3,200 3,023 (177) 3,135 Repairs 1,000 1,000 655 (345) 867 Supplies and materials 58,869 58,869 38,469 (20,400) 32,819 Health insurance 45,485 45,485 45,485 43,622 Liability insurance 12,701 12,701 12,701 12,159 Vehicle rental 51,610 51 ,610 51 ,610 53,003 Operating equipment 5.000 5,000 4,325 (675) 19,552

Total Distribution and Service 537,528 537,528 454,006 (83.522) 466,771

Page 125

CITY OF WHEATON



2012



Valves Regular wages $ 93,953 $ 93,953 $ 85,643 $ (8,310) $ 85,288 Employer FICA 7,186 7,186 6,408 (778) 6,323 Employer IMRF pension 12,809 12,809 10,925 (1,884) 10,159 Supplies and materials 34,939 34,939 33,768 (1,171) 16,959 Health insurance 16,760 16,760 16,760 16,075 Liability insurance 4,882 4,882 4,882 4,481 Vehicle rental 14,959 14.959 14,959 15,364

Total Valves 185,488 185.488 173,345 (12,143) 154,649

Hydrants Regular wages 84,089 84,089 75,123 (8,966) 89,151 Employer FICA 6,431 6,431 5,631 (800) 6,616 Employer IMRF pension 11,336 11,336 9,600 (1,736) 10,653 Contractual services 14,875 14,875 14,875 14,875 Repairs 7,060 7,060 9,687 2,627 7,143 Supplies and materials 57,780 57,780 48,834 (8,946) 36,806 Health insurance 15,627 15,627 15,627 14,980 Liability insurance 4,324 4,324 4,324 4,175 Overtime 117 117 Vehicle rental 11,220 11 .220 11,220 11,522

Total Hydrants 212,742 212,742 195,038 (17.704) 195.921

Storage Regular wages 6,860 6,860 5,559 (1,301) 4,732 Employer FICA 526 526 415 (111 ) 354 Employer IMRF pension 953 953 715 (238) 546 Contractual services 404,000 404,000 15,059 (388,941 ) 1,670 Supplies and materials 1,750 1,750 625 (1,125) 250 Health insurance 1,095 1,095 1,095 1,051 Liability insurance 319 319 319 293 Vehicle rental 2.991 2,991 2,991 3,073

Total Storage 418.494 418,494 26,778 (391,716) 11,969

Capital Improvements Construction 1,290,000 1,290,000 1,092,604 (197.396) 765,546

Total Operations 7,992,579 7,992,579 7,005,176 (987,403) 6,012,422

Total Administration and Operations 8,934,850 8,934,850 7.817.624 (1,117,226) 6,958,969

Page 126

CITY OF WHEATON



Adjustment to GAAP basis Capital assets capitalized Depreciation

Total Adjustment to GAAP basis

Total Operating Expenses

Operating Income (Loss)

NON-OPERATING REVENUES Investment income

Total Non-Operating Revenues




2012

Budgeted Amounts Variance with

Original Final Actual Final Budget

$ - $ - $ (1,091,606) $ (1,091,606) 855,022 855,022

(236,584) (236,584)

8,934,850 8,934,850 7,581,040 (1,353,810)

(2.751.350) (2.751.350) (1.503.367) 1.247.983

100.000 100.000 1.329 (98.671 )

100,000 100,000 1,329 (98,671 )

$ (2,651,350) $ (2,651,350) (1,502,038) $ 1,149,312

17.096.178

$ 15,594,140

2011 Actual

$ (775,122) 798,123

23,001

6,981,970

(1 ,645.900)

18,446

18,446

(1,627,454)

18.723.632

$ 17,096,178

Page 127

CITY OF WHEATON

COMPARATIVE STATEMENT OF NET ASSETS SEWERAGE FUND


2012 2011


Accounts 386,170 757,603 Accrued interest 264



Capital assets not being depreciated 59,906 60,368 Capital assets being depreciated 62,571,358 60,543,214 Accumulated depreciation {39,454,578) (38,347,498)

Total Noncurrent Assets 23,176,686 22,256,084

Total Assets 27,156,267 26,543,224

CURRENT LIABILITIES Accounts payable 109,107 425,581 Contracts payable 52,490 78,276.00 Wages payable 25,715 19,651 Compensated absences payable 64,815 67,626

Total Current Liabilities 252,127 591 ,134

LONG-TERM L1ABILITES Compensated absences payable 48,833 126,515 Other postemployment benefits payable 5,484 5,470

Total Long-Term Liabilities 54,317 131 ,985

Total Liabilities 306,444 723,119


NET ASSETS $ 26,849,823 $ 25,820,105

Page 128

CITY OF WHEATON

SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL SEWERAGE FUND - BUDGETARY BASIS


2012



OPERATING REVENUES Sewerage service fees ~ 4,500,000 ~ 4,500,000 ~ 3,743,799 ~ (756,201 ) ~ 4,229,943

Total Operating Revenues 4,500,000 4,500,000 3,743,799 (756,201 ) 4.229,943

OPERATING EXPENSES Administration

Regular salaries 175,012 175,012 173,219 (1,793) 177,261 Uniform allowance 9,225 9,225 7,053 (2,172) 7,615 Sick leave buy-back 722 722 1,246 524 862 Employer FICA 13,210 13,210 12,980 (230) 12,979 Employer IMRF pension 24,421 24,421 22,662 (1,759) 21,271 Training 3,500 3,500 2,119 (1,381 ) 1,683 Dues and subscriptions 300 300 361 61 352 Contractual services 17,500 17,500 17,189 (311 ) 18,434 Postage 29,580 29,580 29,995 415 29,728 Printing 20,000 20,000 18,440 (1,560) 18,594 Communications 8,300 8,300 8,829 529 9,609 Supplies and materials 2,300 2,300 782 (1,518) 1,808 Administrative services 306,634 306,634 306,634 310,444 Health insurance 33,670 33,670 33,670 32,292 Liability insurance 6,140 6,140 6,140 5,842 Vehicle rental 17,752 17,752 17,752 16,755 Other postemployment

benefit 14 14 1,491 Compensated absences (80.493) (80,493)

Total Administration 668,266 668,266 578.592 (89,674) 667,020

Page 129

CITY OF WHEATON

SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL - (Cant.) SEWERAGE FUND - BUDGETARY BASIS


2012



Operations Sanitary Sewer Maintenance

Regular wages $ 223,574 $ 223,574 $ 203,629 $ (19,945) $ 221,085 Overtime wages 14,145 14,145 10,965 (3,180) 12,618 Employer FICA 18,186 18,186 16,036 (2,150) 17,301 Employer IMRF pension 32,183 32,183 26,692 (5,491 ) 25,229 Equipment maintenance 12,000 12,000 9,497 (2 ,503) 8,164 Dump fees 4,900 4,900 4,632 (268) 4,176 Gas for heating 4,500 4,500 2,508 (1 ,992) 2,798 Electricity 27,000 27,000 22,598 (4,402) 25,819 Repairs 25,520 25,520 30,851 5,331 21,636 Supplies and materials 52,619 52,619 44,352 (8,267) 35,837 Health insurance 34,501 34,501 34,501 33,098 Liability insurance 11 ,679 11,679 11,679 9,225 Vehicle rental 98,315 98,315 98,315 92,799 Sanitary sewer improvements 80,000 80,000 54,580 (25,420) 117,107

Total Sanitary Sewer Maintenance 639,122 639,122 570,835 (68,287) 626,892

Sewer Investigation Regular wages 203,355 203,355 260,880 57,525 230,602 Overtime wages 3,469 3,469 3,702 233 4,315 Employer FICA 15,824 15,824 19,867 4,043 17,513 Employer IMRF pension 28,382 28,382 33,717 5,335 28,229 Contractual services 137,610 137,610 4,110 (133,500) 4,110 Supplies and materials 3,500 3,500 7,918 4,418 1,511 Health insurance 33,972 33,972 33,972 32,569 Liability insurance 10,307 10,307 10,307 9,078 Vehicle rental 57,350 57,350 57,350 54,133

Total Sewer Investigation 493,769 493,769 431,823 (61 ,946) 382,060

Page 130

CITY OF WHEATON

SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL - (Cont.) SEWERAGE FUND - BUDGETARY BASIS


2012



Storm Sewer Maintenance Regular wages $ 328,988 $ 328,988 $ 310,518 $ (18,470) $ 283,899 Overtime wages 9,379 9,379 7,919 (1,460) 9,119 Employer FICA 25,884 25,884 23,769 (2,115) 21,643 Employer IMRF pension 46,195 46,195 38,966 (7,229) 33,703 Contractual services 8,000 8,000 24,239 16,239 9,226 Tools 7,873 7,873 7,523 (350) 4,718 Supplies and materials 55,335 55,335 57,354 2,019 46,442 Administrative services 76,668 76,668 76,668 74,896 Health insurance 66,284 66,284 66,284 63,581 Liability insurance 17,788 17,788 17,788 17,722 Vehicle rental 99,680 99.680 99,680 94,088

Total Storm Sewer Maintenance 742,074 742,074 730,708 (11.366) 659,037

Capital Improvements Construction 1,600,000 1,600,000 1,330,970 (269,030) 1,060,926

Total Capital Improvements 1 ,600,000 1 ,600,000 1.330,970 (269,030) 1,060,926

Total Operations 3.474,965 3.474,965 3,064.336 (410,629) 2.728.915

Total Administration and Operations 4,143,231 4.143.231 3.642,928 (500,303) 3,395,935

Adjustment to GMP basis Capital assets capitalized (1,047,683) (1,047,683) (1,001,410) Depreciation 1,107,080 1,107,080 1,063,108

Total Adjustment to GMP Basis 59,397 59,397 61,698

Total Operating Expenses 4,143,231 4,143,231 3.702.325 (440,906) 3.457,633

Operating income 356,769 356,769 41.474 (315,295) 772,310

NON·OPERATING REVENUES Investment income 25,000 25,000 2,394 (22,606) 9,595 Miscellaneous 5,850 5.850

Total Non-Operating Revenues 25,000 25,000 8.244 (16,756) 9,595

Net Income Before Contributions

381,769 381,769 49,718 (332,051 ) 781,905

Page 131

CITY OF WHEATON

SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL - (Cant.) SEWERAGE FUND - BUDGETARY BASIS


CONTRIBUTIONS Capital contributions




~

~

2012

Budgeted Amounts

Original Final Actual

- ~ - ~ 980,000

381,769 ~ 381,769 1,029,71 8

25,820,105

$ 26,849,823

Variance with Final Budget

~ 980,000

~ 647,949

2011 Actual

~ 95,100

877,005

24.943.100

$ 25,820,105

Page 132

CITY OF WHEATON

COMPARATIVE STATEMENT OF NET ASSETS PARKING REVENUE FUND


2012 2011


Property taxes 38,732 39,707 Accrued interest 782



Capital assets not being depreciated 1,748,163 1,748,163 Capital assets being depreciated 12,768,058 12,768,058 Accumulated depreciation p,938,348) p,494,841 )

Net Capital Assets 10,577,873 11 ,021,380

Other Assets Unamortized debt issuance expenses 40,529 48,635

Total Noncurrent Assets 10,618,402 11 ,070,015

Total Assets 12,744,712 13,065,527

CURRENT LIABILITIES Accounts payable 116,973 17,210 Accrued interest payable 70,898 80,352 Wages payable 2,211 2,184 Unearned property taxes 38,732 39,707 Compensated absences payable 1,796 858 Unamortized bond premium 8,814 8,814 General obligation bonds payable 625,000 550,000

Total Current Liabilities 864,424 699,125

LONG-TERM LIABILITIES Compensated absences payable 6,049 Other postemployment benefits payable 1,277 728 Unamortized bond premium 35,254 44,067 General obligation bonds payable 3,500,000 4,125,000

Total Long-Term Liabilities 3,542,580 4,169,795



TOTAL NET ASSETS $ 8,337,708 $ 8,196,607

Page 133

CITY OF WHEATON

SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL PARKING REVENUE FUND - BUDGETARY BASIS


OPERATING REVENUES Rental fees Meter collections Meter fines

Total Operating Revenues

OPERATING EXPENSES Operations

Support and Enforcement Support salaries Overtime wages Holiday pay Uniform allowance Employer FICA Employer IMRF pension Contractual services Printing Supplies and materials Administrative services Health insurance Liability insurance Vehicle rental Other postemployment

benefit Compensated absences

Total Support and Enforcement

Central Business District -Enforcement Support salaries Uniform allowance Employer FICA Employer IMRF pension Contractual services Administrative services Health insurance Liability insurance Operating equipment

Total Central Business District - Enforcement

$

2012

Budgeted Amounts

Original

360,000 $ 147,000 42,000

549,000

38,256

350 2,927 5,316 4,400 4,800 2,500

84,300 11,815 3,319 5,163

163,146

33,720 350

2,580 4,686 1,250

84,300 23,630

3,319

153,835

Final

360,000 $ 147,000

42,000 549,000

38,256

350 2,927 5,316 4,400 4,800 2,500

84,300 11,815 3,319 5,163

163,146

33,720 350

2,580 4,686 1,250

84,300 23,630

3,319

153,835

Actual Variance with Final Budget

419,091 $ 173,784 42.443

635,318

38,465

203 2,943 5,053 2,338 4,649 2,508

84,300 11,815 3,319 5,161

549 6,987

168,290

33,906 743

2,543 4,367 2,101

84,300 23,630

3,319

154,909

59,091 $ 26,784

443 86,318

209

(147) 16

(263) (2,062)

(151 ) 8

(2)

549 6,987

5,144

186 393 (37)

(319) 851

1,074

2011 Actual

398,697 167,654 34.421

600,772

27,063 67

2,122 41

2,248 5,306 2,567 4,939 2,680

84,352 11,330 3,158 7,295

206

153,374

37,422 456

2,856 4,604 1,185

84,352 22,661

3,158 11 ,205

167,899

Page 134

CITY OF WHEATON

SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL - (Cant.) PARKING REVENUE FUND - BUDGETARY BASIS




Maintenance Outside Central Business District Regular wages $ 8,882 $ 8,882 $ 6,361 $ (2,521 ) $ 9,815 Employer FICA 679 679 483 (196) 747 Employer IMRF pension 1,134 1,134 763 (371 ) 1,131 Contractual services 35,000 35,000 12,049 (22,951 ) 36,056 Electricity 4,000 4,000 2,340 (1,660) 2,576 Supplies and materials 9,633 9,633 (9,633) Health insurance 1,661 1,661 1,661 1,602 Liability insurance 432 432 432 446 Vehicle rental 1,328 1,328 1,328 1,876

Total Maintenance Outside Central Business District 62,749 62,749 25,417 (37,332) 54,249

Maintenance - Central Business District Regular wages 13,594 13,594 7,969 (5,625) 9,501 Overtime wages 590 590 (590) Employer FICA 1,085 1,085 608 (477) 722 Employer IMRF pension 1,747 1,747 1,004 (743) 1,103 Contractual services 8,903 8,903 2,126 (6,777) 12,903 Supplies and materials 3,408 3,408 (3,408) 1,932 Health insurance 1,623 1,623 1,623 1,552 Liability insurance 617 617 617 433 Vehicle rental 6,933 6,933 6.933 9,796

Total Maintenance - Central Business District 38,500 38,500 20,880 (17,620) 37,942

Parking Garage Regular wages 12,578 12,578 3,302 (9,276) 2,621 Overtime wages 303 303 (303) Employer FICA 987 987 252 (735) 199 Employer IMRF pension 1,226 1,226 226 (1,000) 230 Contractual services 32,875 32,875 37,563 4,688 34,261 Communications 685 685 643 (42) 1,688 Electricity 38,000 38,000 27,952 (10,048) 36,393 Supplies and materials 10,000 10,000 1,222 (8,778) 5,988 Health insurance 2,114 2,114 2,114 2,016 Liability insurance 444 444 444 562 Vehicle rental 1,328 1,328 1,328 1,876 Repairs 225,000 216,794 (8.206)

Total Parking Garage 100,540 325,540 291,840 (33.700) 85,834

Page 135

CITY OF WHEATON

SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL - (Cant.) PARKING REVENUE FUND - BUDGETARY BASIS




Total Operations ~ 518,770 ~ 743,770 ~ 661,336 ~ (82,434) ~ 499,298

Adjustment to GAAP Basis Depreciation 443,507 443,507 443,508 Principal on long-term debt 550,000 550,000 (550,000)

Total Adjustment to GAAP Basis 550,000 550,000 443,507 (106,493) 443,508

Total Operating Expenses 1,068,770 1 ,293,770 1.104,843 (188,927) 942,806

Operating Income (Loss) (519,770) (744,770) (469.525) 275,245 (342,034)

NON·OPERATING REVENUES (EXPENSES) Property tax 40,151 40,151 40,107 (44) 41,716 Prior property tax 1 1 Investment income 30,000 30,000 10,007 (19,993) 4,408 Interest expense (192,844) (192,844) (183,391) 9,453 (205,477) Amortization of debt issuance

costs and premium 708 708 708 Total Non-Operating

Revenues (Expenses) (122,693) (122,693) (132,568) (9,875) (158,645)

Net Loss Before Transfers (642,463) (867,463) (602,093) 265.370 (500,679)

TRANSFERS Transfers in 743,194 743,194 743,194 739.850

Change in net assets $ 100,731 $ (124,269) 141,101 $ 265,370 239,171

NET ASSETS - Beginning of Year 8,196,607 7.957,436

NET ASSETS - END OF YEAR $ 8,337,708 $ 8.196,607

Page 136

CITY OF WHEATON

COMBINING STATEMENT OF NET ASSETS INTERNAL SERVICE FUNDS


Capital Municipal Equipment Liability Health Garage Re~lacement Insurance Insurance

ASSETS Current Assets

Cash and investments $ 4,288,366 $ 3,339,423 $ 1,954,248 $ 945,616 Receivables (net)

Accounts 27,501 16,946 1,284,001 Other 2,747

Inventories 169,537 Prepaid items 133,472 66,450

Total Current Assets 4.485.404 3,339.423 2,104,666 2,298,814

Noncurrent assets Capital assets

Property and equipment 12,030,733 2,747,002 Less: Accumulated

depreciation (8,098,355) (1,808,325) Total Noncurrent Assets 3,932,378 938,677

Total Assets 8.417,782 4,278,100 2,104,666 2,298,814

LIABILITIES Current liabilities

Accounts payable 92,728 66,891 416 Wages payable 16,176 Compensated absences 31,287 Claims payable 47,886

Total Current Liabilities 140,191 66,891 47,886 416

Noncurrent Liabilities Compensated absences 8,785 Claims payable 794,113

Total Noncurrent Liabilities 8,785 794,113

Total Liabilities 148,976 66,891 841,999 416

NET ASSETS Invested in capital assets, net of

related debt 3,932,378 938,677 Unrestricted 4,336.428 3,272,532 1.262.667 2,298,398

TOTAL NET ASSETS $ 8,268,806 ~ 4,211,209 ~ 1,262,667 $ 2,298,398

Page 137

Totals

$ 10,527,653

1,328,448 2,747

169,537 199.922

12.228.307

14,777,735

(9.906.680) 4.871.055

17.099.362

160,035 16,176 31,287 47.886

255.384

8,785 794.113 802.898

1.058.282

4,871,055 11,170,025

$ 16,041,080

Page 138

CITY OF WHEATON

COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET ASSETS

INTERNAL SERVICE FUNDS For the Year Ended April 30, 2012

Capital Municipal Equipment Liability Health Garage Replacement Insurance Insurance

OPERATING REVENUES Billings $ 2,980,172 $ 600,783 $ 795,123 $ 4,524,048 Miscellaneous revenues 98.642

Total Operating Revenues 3.078.814 600,783 795.123 4.524.048

OPERATING EXPENSES Operations 1,797,301 304,655 522,548 4,252,306 Depreciation 819,928 147,450

Total Operating Expenses 2.617.229 452,105 522,548 4,252,306

Operating Income 461,585 148,678 272,575 271 ,742

NONOPERATING REVENUES Investment income 5,919 24,304 1,457 532 Gain (loss) on sale of city property 28,054 (10,475) Grant income 24,855 Miscellaneous revenues 125,372

Total Nonoperating Revenues 58,828 13,829 1,457 125,904

CONTRIBUTIONS Capital contributions 132,998

Total Contributions 132,998

Change in net assets 653,411 162,507 274,032 397,646

NET ASSETS - Beginning of Year 7,615,395 4,048,702 988,635 1.900,752

NET ASSETS - END OF YEAR $ 8,268,806 § 4,211,209 $ 1,262,667 $ 2,298,398

Page 139

Totals

$ 8,900,126 98,642

8,998,768

6,876,810 967,378

7,844,188

1,154,580

32,212 17,579 24,855

125,372 200,018

132,998 132,998

1,487,596

14,553.484

$ 16,041 ,080

Page 140

CITY OF WHEATON

COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS



CASH FLOWS FROM OPERATING ACTIVITIES

Received from customers $ 3,071,311 $ 600,783 $ 778,177 $ 4,529,718 Paid to suppliers for goods and

services (1,192,014) (263,303) (709,436) (4,318,777) Paid to employees for services (771,515)

Net Cash Flows From Operating Activities 1,107,782 337,480 68.741 210,941

CASH FLOWS FROM INVESTING ACTIVITIES

Investments sold and matured 448,333 1,434,664 Investment income 5,919 28,271 1.457 532

Net Cash Flows From Investing Activities 454,252 1 ,462,935 1.457 532

CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES

Grants received 24,855 Acquisition and construction of

capital assets (536,146) (174,819) Proceeds from sale of capital assets 59,751

Net Cash Flows From Capital and Related Financing Activities (451 ,540) (174,819)

Net Change in Cash and Cash Equivalents 1,110,494 1,625,596 70,198 211,473

CASH AND CASH EQUIVALENTS-Beginning of Year 3,177,872 1 ,713,827 1.884.050 734,143

CASH AND CASH EQUIVALENTS-END OF YEAR $ 4,288,366 $ 3,339,423 $ 1,954,248 $ 945,616

Page 141

Totals

$ 8,979,989

~

(6,483,530) (771,515)

1,724,944

1,882,997 36,179

1,919,176

24,855

(710,965) 59,751

(626,359)

3,017,761

7.509,892

10,527,653

Page 142

CITY OF WHEATON

COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS



RECONCILIATION OF OPERATING INCOME TO NET CASH FLOWS FROM OPERATING ACTIVITIES

Operating income $ 461,585 $ 148,678 $ 272,575 $ 271,742 Nonoperating revenue 125,372 Adjustments to Reconcile Operating

Income to Net Cash Flows From Operating Activities

Depreciation 819,928 147,450 Changes in assets and liabilities

Accounts receivable (7,503) (16,946) (119,702) Prepaid items 336 636 (66,450) Inventory 17,490 Accounts payable (43,018) 41 ,352 (180) (21 ) Accrued wages 3,674 Claims payable (187,344) Compensated absences (144.710)

NET CASH FLOWS FROM OPERATING ACTIVITIES $ 1,107,782 ~ 337,480 $ 68,741 $ 210,941

RECONCILIATION OF CASH AND CASH EQUIVALENTS TO THE STATEMENT OF NET ASSETS

Cash and investments - statement of net assets $ 4,288.366 $ 3.339.423 $ 1.954,248 $ 945,616

NONCASH CAPITAL AND RELATED FINANCING ACTIVITIES

Contributed capital assets $ 132,998 ~ - $ - ~

Page 143

Totals

$ 1,154,580 125,372

967,378

(144,151) (65,478) 17,490 (1,867) 3,674

(187,344) (144,710)

$ 1,724,944

$ 10,527,653

$ 132,998

Page 144

CITY OF WHEATON

SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL MUNICIPAL GARAGE FUND - BUDGETARY BASIS


2012



OPERATING REVENUES Charges for services Billings $ 2,980,172 $ 2,980,172 $ 2,980,172 $ - $ 2,991,414 Miscellaneous revenues 100.000 100.000 98,642 (1,358) 83,009

Total Operating Revenues 3.080.172 3.080.172 3.078,814 (1,358) 3,074,423


Regular salaries 122,899 122,899 123,589 690 131,418 Regular wages 487,911 487,911 490,833 2,922 480,283 Overtime wages 22,727 22,727 15,315 (7,412) 29,917 Uniform allowance 4,450 4,450 4,268 (182) 3,694 Sick leave buy-back 1,209 1,209 1,080 (129) 790 Employer FICA 48,554 48,554 47,518 (1,036) 48,128 Employer IMRF pension 87,689 87,689 79,960 (7,729) 75,983 Unemployment insurance 5,225 5,225 6,930 Training 3,500 3,500 720 (2,780) 2,599 Contractual services 115,100 115,100 121,163 6,063 73,623 Equipment maintenance 9,800 9,800 8,281 (1 ,519) 10,897 Radio maintenance 2,500 2,500 1,601 (899) 3,467 Postage 250 250 236 (14) 228 Communications 3,610 3,610 3,559 (51 ) 3,082 Tools 10,900 10,900 9,043 (1,857) 11 ,021 Gas, oil, lubrication 594,709 594,709 518,724 (75,985) 450,357 Tires 35,050 35,050 39,621 4,571 40,528 Repairs 177,841 177,841 201,638 23,797 173,857 Supplies and materials 60,851 60,851 52,425 (8,426) 52,536 Administrative services 107,500 107,500 107,500 108,148 Health insurance 108,032 108,032 108,032 103,602 Liability insurance 28,571 28,571 28,571 25,719 Vehicle purchase 1,087,287 1,087,287 509,256 (578,031 ) 707,662 Compensated absences (144,711 ) (144,711 )

Total Operations 3.120,940 3,120,940 2,333,447 (787,493) 2,544,469

Page 145

CITY OF WHEATON

SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL - (Cont.) MUNICIPAL GARAGE FUND - BUDGETARY BASIS


2012



Adjustments to GAAP Basis Capital assets capitalized $ - $ - $ (536,146) $ (536,146) $ (722,912) Depreciation 819,928 819,928 793,086

Total Adjustments to GAAP Basis 283,782 283,782 70,174

Total Operating Expenses 3,120,940 3.120.940 2.617.229 (503,711 ) 2,614,643

Operating Income (Loss) (40,768) (40.768) 461 .585 502,353 459,780

NONOPERATING REVENUES Investment income 20,000 20,000 5,919 (14,081) 5,498 Grant income 26,813 26,813 24,855 (1,958) Gain (loss) on sale of city

property 75,000 75,000 28,054 (46,946) 59,806

Total Nonoperating Revenues 121,813 121 .813 58.828 (62,985) 65,304

Net Income Before Contributions 81,045 81,045 520,413 439,368 525,084

CONTRIBUTIONS Capital contributions 132,998 132,998

Change in net assets ~ 81,045 § 81,045 653,411 ~ 572,366 525,084


7,615,395 7.090,311

NET ASSETS - END OF YEAR $ 8,268,806 $ 7,615,395

Page 146

CITY OF WHEATON

SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL CAPITAL EQUIPMENT REPLACEMENT FUND - BUDGETARY BASIS


2012



OPERATING REVENUES Charges for services Billings ~ 600,783 ~ 600,783 ~ 600,783 ~ - ~ 265,384

Total Operating Revenues 600,783 600,783 600,783 265,384


Contractual services 34 Operating equipment 828,138 828,138 479,473 (348,665) 966,310

Total Operations 828,138 828,138 479,473 (348,665) 966,344

Adjustments to GAAP basis Capital assets capitalized (174,818) (174,818) (136,105) Depreciation 147,450 147,450 141,243

Total Adjustments to GAAP Basis (27,368) (27,368) 5,138

Total Operating Expenses 828,138 828.138 452,105 (376,033) 971 ,482

Operating Income/(Loss) (227,355) (227.355) 148,678 376,033 (706,098)

NONOPERATING REVENUES Investment income 30,000 30,000 24,304 (5,696) 659 Gain (loss) on sale of capital

assets (10,475) (10,475) Total Nonoperating Revenues 30,000 30,000 13,829 (16,171) 659

Change in net assets ~ (197,355) ~ (197,355) 162,507 ~ 359,862 (705,439)


4.048.702 4,754,141

NET ASSETS - END OF YEAR $ 4,211,209 $ 4,048,702

Page 147

CITY OF WHEATON

SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL LIABILITY INSURANCE FUND - BUDGETARY BASIS


2012



OPERATING REVENUES Charges for services Billings ~ 789,661 ~ 789,661 ~ 795,123 ~ 5,462 ~ 756,923

Total Operating Revenues 789,661 789,661 795,123 5,462 756.923


Workers' compensation insurance 32,536 32,536 33,899 1,363 32,392

Workers' compensation claims 280,000 280,000 146,607 (133,393) 432,015

Liability insurance 292,695 292,695 280,640 (12,055) 297,622 Liability claims 125,000 125,000 8,213 (116,787) 53,093 Training 4,000 4,000 688 (3,312) 1,313 Contractual services 63,460 63,460 51 ,860 (11,600) 66,565 Notary bond 650 650 641 (9) 390

Total Operations 798,341 798.341 522,548 (275,793) 883.390

Total Operating Expenses 798,341 798,341 522,548 (275,793) 883.390

Operating Income/(Loss) (8,680) (8.680) 272,575 281,255 (126.467)

NONOPERATING REVENUES (EXPENSES)

Investment income 20,000 20,000 1,457 (18,543) 3,177 Miscellaneous 5,000 5,000 (5,000) 183

Total Nonoperating Revenues 25,000 25,000 1.457 (23,543) 3,360

Change in net assets ~ 16,320 ~ 16,320 274,032 ~ 257,712 (123,107)


988,635 1,111,742


~ 1,262,667 $ 988,635

Page 148

CITY OF WHEATON

SCHEDULE OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS - BUDGET AND ACTUAL HEALTH INSURANCE FUND - BUDGETARY BASIS




OPERATING REVENUES Charges for services Billings ~ 4,349,811 ~ 4,349,811 ~ 4,524,048 $ 174,237 ~ 4,335,233

Total Operating Revenues 4,349,811 4,349,811 4,524,048 174,237 4,335,233


Dental insurance 124,000 124,000 126,555 2,555 119,851 Medical insurance 218,000 218,000 212,034 (5,966) 227,747 Medical claims 3,750,000 3,750,000 3,431,474 (318,526) 3,619,453 Life insurance 14,655 14,655 14,370 (285) 15,674 Disability insurance 605 605 419 (186) 605 Contractual services 219,900 219,900 467.454 247,554 225,774

Total Operations 4,327,160 4,327,160 4.252.306 (74,854) 4,209,104

Total Operating Expenses 4,327,160 4,327,160 4,252,306 (74,854) 4,209,104

Operating Income 22,651 22,651 271 .742 249,091 126,129

NONOPERATING REVENUES Investment income 5,000 5,000 532 (4,468) 1,177 Misce"aneous 125,372 125.372 131,089

Total Nonoperating Revenues 5.000 5,000 125,904 120.904 132,266

Change in net assets ~ 27,651 ~ 27,651 397,646 ~ 369,995 258,395


1,900,752 1,642,357


~ 2,298,398 $ 1,900,752

Page 149

CITY OF WHEATON

COMBINING STATEMENT OF PLAN NET ASSETS PENSION TRUST FUNDS


Firefighters' Police Pension Pension

ASSETS Cash and short-term investments $ 850,487 $ 295,735 Investments

U.S. treasuries 8,681,783 1,385,810 U.S. agencies 6,060,720 3,008,518 Government bonds 196,465 105,185 Pooled investment account 6,559,604 Mutual funds 8,389,353 Stocks 8,797,192 14,349,014 Annuities 1,627,078

Receivables Accrued interest 117,639 53,827

Prepaid items 4,490 11,427

Total Assets 39,657,733 20.836.594

LIABILITIES Accounts payable 32,700 12,431

Total Liabilities 32,700 12.431

NET ASSETS Held in trust for pension benefits $ 39,625,033 § 20,824,163

Total

$ 1,146,222

10,067,593 9,069,238

301,650 6,559,604 8,389,353

23,146,206 1,627,078

171,466 15,917

60.494,327

45,131

45,131

$ 60,449,196

Page 150

CITY OF WHEATON

COMBINING STATEMENT OF CHANGES IN PLAN NET ASSETS PENSION TRUST FUNDS


Firefighters' Police Pension Pension Total


Employee contributions $ 614,428 $ 304,284 $ 918,712 Employer contributions 1.913,209 948,469 2,861,678

Total Contributions 2,527,637 1,252,753 3,780,390

Investment Income Investment income 887,240 452,222 1,339,462 Net appreciation in fair value of investments 1,618,785 813,316 2,432,101

Total Investment Income 2,506,025 1,265,538 3,771,563 Less: Investment expense (137,313) (100.011) (237.324)

Net Investment Income 2,368,712 1,165,527 3,534,239 Total Additions 4,896,349 2.418.280 7.314.629

DEDUCTIONS Benefits 2,353,505 877,866 3,231,371 Refunded contributions 12,282 12,282 Administration 35,937 33.612 69.549

Total Deductions 2,389.442 923.760 3.313.202

Change in Net Assets 2,506,907 1,494,520 4,001,427

NET ASSETS - Beginning of Year 37,118,126 19,329.643 56.447.769

NET ASSETS - END OF YEAR $ 39,625,033 $ 20,824,163 $ 60,449,196

Page 151

CITY OF WHEATON

SCHEDULE OF CHANGES IN PLAN NET ASSETS - BUDGET AND ACTUAL POLICE PENSION FUND


2012 Original Variance with 2011 Budget Final Budget Actual Final BUdget Actual


Employee contributions $ 595,000 $ 595,000 $ 614,428 $ 19,428 $ 610,852 Employer contributions 1,913,209 1,913,209 1,913,209 1,887,986 Miscellaneous revenues 527

Total Contributions 2,508,209 2,508,209 2,527,637 19.428 2.499,365

Investment Income Investment income 700,000 700,000 887,240 187,240 905,690 Net appreciation in fair

value of investments 1,61 8,785 1.618,785 3)60,298 Total Investment

Income 700,000 700,000 2,506,025 1,806,025 4,165,988

Less: Investment expense (160,000) (160,000) (137,31 3) 22,687 (142,854)

Net Investment Income 540,000 540,000 2,368,712 1,828,712 4,023,134

Total Additions 3,048,209 3,048,209 4,896,349 1,848.140 6,522.499

DEDUCTIONS Benefits 2,450,000 2,450,000 2,353,505 (96,495) 2,210,105 Refunded contributions 50,000 50,000 (50,000) 88,195 Dues and subscriptions 7,337 7,337 7,883 546 6,653 Meetings and conferences 5,000 5,000 1,350 (3,650) 2,602 Contractual services 25,604 25,604 26,574 970 30,736 Office supplies 450 450 130 (320) 227

Total Deductions 2,538,391 2,538.391 2,389,442 (148.949) 2,338,518

Change in net assets ~ 509,818 ~ 509,818 2,506,907 § 1,997,089 4,183,981

NET ASSETS - Beginning of Year 37.118,126 32,934,145

NET ASSETS - END OF YEAR ~ 39,625,033 § 37,118,126

Page 152

CITY OF WHEATON

SCHEDULE OF CHANGES IN PLAN NET ASSETS - BUDGET AND ACTUAL FIREFIGHTERS' PENSION FUND For the Year Ended April 30, 2012


2012 Original Variance with 2011 Budget Final Budget Actual Final Budget Actual


Employee contributions $ 308,668 $ 308,668 $ 304,284 $ (4,384) $ 297,285 Employer contributions 948,469 948,469 948,469 982,397 Miscellaneous revenues 16,236

Total Contributions 1,257,137 1.257.137 1.252.753 (4,384) 1,295,918

Investment Income Investment income 278,029 278,029 452,222 174,193 313,628 Net appreCiation in fair

value of investments 813.316 813,316 1,700,501 Total Investment

Income 278,029 278,029 1,265,538 987,509 2,014,129

Less: Investment expense (60,000) (60,000) (100.011) (40,011 ) (73,782)

Net Investment Income 218,029 218,029 1.165,527 947,498 1,940,347

Total Additions 1,475,166 1 ,475,166 2,418.280 943,114 3,236,265

DEDUCTIONS Benefits 900,000 916,478 877,866 (38,612) 774,632 Dues and subscriptions 4,150 4,150 4,158 8 3,645 Meetings and conferences 2,500 2,500 2,319 (181 ) 2,735 Contractual services 28,175 28,175 25,743 (2,432) 31 ,175 Training 8,000 8,000 1,200 (6,800) 2,325 Office supplies 200 200 192 (8) 79 Refunded contributions 12.282 12,282

Total Deductions 943,025 971,785 923,760 (48,025) 814,591

Change in net assets ~ 532,141 ~ 503,381 1,494,520 ~ 991,139 2,421,674

NET ASSETS - Beginning of Year 19,329,643 16,907,969

NET ASSETS· END OF YEAR ~ 20,824,163 $ 19,329,643

Page 153

CITY OF WHEATON

COMPONENT UNIT - WHEATON PUBLIC LIBRARY - BALANCE SHEET AND STATEMENT OF NET ASSETS As of April 30, 2012

Capital Special General Projects Revenue Total

ASSETS Cash and investments $ 757,374 $ 1,122,843 $ 240,042 $ 2,120,259 Receivables

Property taxes (net) 3,366,000 3,366,000 Capital assets, not

being depreciated Capital assets being

depreciated, net

Total Assets 4,123,374 1,122,843 240,042 5,486,259

LIABILITIES Accounts payable 46,448 46,448 Wages payable 50,879 50,879 Deferred property taxes 3,366,000 3,366,000 Compensated absences payable Other post employment benefit

payable


FUND BALANCE/NET ASSETS Fund Balance

Restricted for library purposes 54,243 240,042 294,285 Assigned for library capital projects 1,122,843 1,122,843 Unassigned 605,804 605,804

Net Assets Invested in capital assets, net of related debt

Restricted for trust purposes Unrestricted

TOTALFUNDBALANCE~

NET ASSETS $ 660,047 $ 1,122,843 $ 240,042 $ 2,022,932

Page 154

$

$

Adjustments

-

120,000

26,987

146,987

124,931

9,826

134,757

(294,285) (1,122,843)

(605,804)

146,987 294,285

1,593,890

$

Statement of Net Assets

2,120,259

3,366,000

120,000

26,987

5,633,246

46,448 50,879

3,366,000 124,931

9,826

3,598,084

146,987 294,285

1,593,890

12,230 ... $ _..",,;;,,:2,~03,;,.;5~, 1.",,;6~2

Page 155

CITY OF WHEATON

COMPONENT UNIT - WHEATON PUBLIC LIBRARY - STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE AND STATEMENT OF ACTIVITIES


Capital Special General Projects Revenue

REVENUES Property taxes $ 3,300,000 $ - $ Intergovernmental 110,952 Fines and forfe its 229,845 Investment income 431 939 11,632 Miscellaneous 79,823

Total Revenues 3,721 ,051 939 11 ,632

EXPENDITURES Culture and recreation 3,646,135 42,929 4,731

Net change in fund balancesl net assets 74,916 (41,990) 6,901

FUND BALANCE/NET ASSETS -Beginning of Year 585,131 1,164,833 233,141

FUND BALANCE/NET ASSETS -END OF YEAR $ 660,047 $ 1,122,843 $ 240,042

Page 156

Statement of Total Adjustments Net Assets

$ 3,300,000 $ - $ 3,300,000 110,952 (56,709) 54,243 229,845 229,845

13,002 13,002 79,823 79,823

3,733,622 (56,709) 3,676,913

3,693,795 37,398 3,731,193

39,827 (94,107) (54,280)

1,983,105 106,337 2,089,442

$ 2,022,932 $ 12,230 $ 2,035,162

Page 157

Date of Issue Date of Maturity Authorized Issue Actual Issue Denomination of Bonds I nterest Rates

Principal Maturity Date Interest Dates Payable at

Tax

CITY OF WHEATON

LONG-TERM DEBT REQUIREMENTS - CORPORATE PURPOSE TAXABLE GENERAL OBLIGATION BOND SERIES OF 1998A


July 1,1998 December 1, 2014 $ 2,005,000 $ 2,005,000 1 - 401 - $5,000

Bonds 1 - 6 7 - 9

10 - 12 13 - 221

222 - 401

December 1 December 1 and June 1

6.000% 6.050% 6.100% 6.150% 6.200%

US Bank Corporate Trust, St. Paul, MN

FUTURE PRINCIPAL AND INTEREST REQUIREMENTS

Levy Bond Tax Levy Interest Due on Year Numbers Principal Interest Total June 1 Amount December 1

2011 222-282 $ 305,000 $ 55,800 $ 360,800 2012 $ 27,900 2012 2012 283-342 300,000 36,890 336,890 2013 18,445 2013 2013 343-401 295,000 18,290 313,290 2014 9,145 2014

$ 900,000 $ 110,980 $ 1,010,980 $ 55,490

Amount

$ 27,900 18,445

9,145

$ 55,490

Page 158

Date of Issue Date of Maturity Authorized Issue Actual Issue Denomination of Bonds Interest Rates


Tax Levy Bond Year Numbers

2011 1341-1430 2012 1431-1520 2013 1521-1570 2014 1571-1670 2015 1671-1820 2016 1821-1940 2017 1941-2000

CITY OF WHEATON

LONG-TERM DEBT REQUIREMENTS - CORPORATE PURPOSE GENERAL OBLIGATION REFUNDING BOND SERIES OF 2003A

Principal

$ 450,000 $ 450,000 250,000 500,000 750,000 600,000 300,000

$ 3,300,000 $


June 15, 2003 December 1,2018 $ 10,000,000 $ 10,000,000 1 - 2000 - $5,000

Bonds 1

791 1055 1155 1246 1341 1431 1521 1571 1671 1821 1941

December 1

- 790 - 1054 - 1154 - 1245 - 1340 - 1430 - 1520 - 1570 - 1670 - 1820 - 1940 - 2000

December 1 and June 1 US Bank Corporate Trust, St. Paul, MN

2.000% 2.375% 2.750% 3.000% 3.250% 3.375% 3.200% 3.250% 3.350% 3.450% 3.550% 3.700%


Tax Levy Interest Due on Interest Total June 1 Amount December 1

112,738 $ 562,738 2012 $ 56,369 2012 97,550 547,550 2013 48,775 2013 83,150 333,150 2014 41,575 2014 75,025 575,025 2015 37,513 2015 58,275 808,275 2016 29,138 2016 32,400 632,400 2017 16,200 2017 11 ,100 311,100 2018 5,550 2018

470,238 $ 3,770,238 $ 235,120

Amount

$ 56,369 48,775 41,575 37,512 29,137 16,200 5,550

$ 235,118

Page 159




2011 476-560 $ 2012 561-760 2013 761-1000 2014 1001-1250 2015 1251-1590 2016 1591-1790 2017 1791-2010 2018 2011-2330 2019 2331-2630 2020 2631-2945 2021 2946-3275 2022 3276-3623 2023 3624-3992

CITY OF WHEATON

LONG-TERM DEBT REQUIREMENTS - CORPORATE PURPOSE GENERAL OBLIGATION BOND SERIES OF 2004


June 1, 2004 December 1, 2024 $ 19,960,000 $ 19,960,000 1 - 3992 - $5,000

Bonds 1 - 175

176 - 235 236 - 405 406 - 560 561 - 3992

December 1 December 1 and June 1 US Bank Corporate Trust, St. Paul, MN

3.000% 3.500% 4.000% 4.250% 5.000%


Tax Levy Interest

Interest Due on Principal

425,000 1,000,000 1,200,000 1,250,000 1,700,000 1,000,000 1,100,000 1,600,000 1,500,000 1,575,000 1,650,000 1,740,000 1,845,000

$ 876,062 $ 858,000 808,000 748,000 685,500 600,500 550,500 495,500 415,500 340,500 261,750 179,250 92,250

Total

1,301,062 1,858,000 2,008,000 1,998,000 2,385,500 1,600,500 1,650,500 2,095,500 1,915,500 1,915,500 1,911,750 1,919,250 1,937.250

June 1

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Amount December 1

$ 438,031 2012 429,000 2013 404,000 2014 374,000 2015 342,750 2016 300,250 2017 275,250 2018 247,750 2019 207,750 2020 170,250 2021 130,875 2022 89,625 2023 46,125 2024

$17,585,000 $ 6,911,312 $ 24,496,312 $ 3,455,656

Amount

$ 438,031 429,000 404,000 374,000 342,750 300,250 275,250 247,750 207,750 170,250 130,875 89,625 46,125

$ 3,455,656

Page 160




2011 819-1158 2012 1159-1535 2013 1536-1979 2014 1980-2177

CITY OF WHEATON

LONG-TERM DEBT REQUIREMENTS - CORPORATE PURPOSE GENERAL OBLIGATION REFUNDING BOND SERIES OF 2005A

Principal

$ 1,700,000 $ 1,885,000 2,220,000

990,000

$ 6,795,000 $


March 1, 2005 December 1, 2015 $ 10,885,000 $ 10,885,000 1-2177-$5,000

Bonds 1 - 113

114 - 163 164 - 818 819 - 2177

December 1 December 1 and June 1 US Bank Corporate Trust, St. Paul, MN

3.000% 3.250% 3.500% 4.000%



271,800 $ 1,971,800 2012 $ 135,900 2012 203,800 2,088,800 2013 101,900 2013 128,400 2,348,400 2014 64,200 2014

39,600 1,029,600 2015 19,800 2015

643,600 $ 7,438,600 $ 321,800

Amount

$ 135,900 101,900 64,200 19,800

$ 321,800

Page 161



Tax Levy Year

2011 2012 2013 2014 2015 2016 2017

Bond Numbers

339-502 503-678 679-869 870-1082 1083-1310 1311-1549 1550-1670

CITY OF WHEATON

LONG-TERM DEBT REQUIREMENTS - CORPORATE PURPOSE TAXABLE GENERAL OBLIGATION BOND SERIES OF 2005B


June 1,2005 December 1, 2018 $ 8,350,000 $ 8,350,000 1 - 1670 - $5,000

Bonds 1 - 502

503 - 678 679 - 1310

1311 - 1670

December 1 December 1 and June 1

4.500% 4.625% 4.700% 4.800%

US Bank Corporate Trust, St. Paul, MN


Tax Levy Interest

Interest Due on Principal

$ 820,000 $ 880,000 955,000

1,065,000 1,140,000 1,195,000

605,000

312,520 275,620 234,920 190,035 139,980 86,400 29,040

Total

$ 1,132,520 1,155,620 1,189,920 1,255,035 1,279,980 1,281,400

634,040

$ 6,660,000 $ 1,268,515 $ 7,928,515

June 1

2012 2013 2014 2015 2016 2017 2018

Amount December 1

$ 156,260 2012 137,810 2013 117,460 2014 95,018 2015 69,990 2016 43,200 2017 14,520 2018

$ 634,258

Amount

$ 156,260 137,810 117,460 95,017 69,990 43,200 14,520

$ 634,257

Page 162

Date of Issue Date of Maturity Authorized Issue Actual Issue Interest Rate


Tax Levy Year Principal

2011 $ 625,000 2012 650,000 2013 675,000 2014 700,000 2015 725,000 2016 750,000

$ 4,125,000

CITY OF WHEATON

LONG-TERM DEBT REQUIREMENTS - CORPORATE PURPOSE TAXABLE GENERAL OBLIGATION BOND SERIES OF 2007


August 23, 2007 December 1, 2017 $ 5,900,000 $ 5,900,000

4.125%

December 1 December 1 and June 1 Bond Trust Service Corporation, Roseville, MN


Tax levy Interest Due on Interest Total June 1 Amount December 1

$ 170,156 $ 795,156 2012 $ 85 ,078 2012 144,376 794,376 2013 72 ,188 2013 117,562 792,562 2014 58,781 2014 89,718 789,718 2015 44,859 2015 60,844 785,844 2016 30,422 2016 30,936 780,936 2017 15,468 2017

$ 613,592 $ 4,738,592 $ 306,796

Amount

$ 85,078 72,188 58,781 44,859 30,422 15,468

$ 306,796

Page 163

Date of Issue Date of Maturity Authorized Issue Actual Issue Interest Rate

Principal Maturity Date I nterest Dates Payable at

Tax Levy Year Principal

2011 $ -2012 2013 2014 2015 2016 660,000 2017 680,000 2018 705,000 2019 730,000 2020 760,000 2021 790,000 2022 820,000 2023 855,000

$ 6,000,000

CITY OF WHEATON

LONG-TERM DEBT REQUIREMENTS - CORPORATE PURPOSE GENERAL OBLIGATION BOND SERIES OF 2010

2017-2018 2019-2024


February 24, 2010 December 1, 2024

$6,000,000 $6,000,000

3% 4%

December 1 December 1 and June 1 Bond Trust Service Corporation, Roseville, MN



$ 226,600 $ 226,600 2012 $ 113,300 2012 226,600 226,600 2013 113,300 2013 226,600 226,600 2014 113,300 2014 226,600 226,600 2015 113,300 2015 226,600 226,600 2016 113,300 2016 226,600 886,600 2017 113,300 2017 206,800 886,800 2018 103,400 2018 186,400 891,400 2019 93,200 2019 158,200 888,200 2020 79,100 2020 129,000 889,000 2021 64,500 2021 98,600 888,600 2022 49,300 2022 67,000 887,000 2023 33,500 2023 34,200 889.200 2024 17,100 2024

$ 2,239,800 $ 8,239,800 $ 1,119,900

Amount

$ 113,300 113,300 113,300 113,300 113,300 113,300 103,400 93,200 79,100 64,500 49,300 33,500 17,100

$ 1,119,900

Page 164

Baker Tilly Virchow Krause, LLP 1301 W 22nd Sr, Sre 400 Oak Brook, IL 60523-3389 rei 630 990 3131 fax 630 990 0039 bakerrilly.com

INDEPENDENT AUDITORS' COMPLIANCE REPORT

To the Mayor and City Council City of Wheaton Wheaton, Illinois

We have audited the accompanying financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the City of Wheaton as of and for the year ended April 30, 2012, and have issued our report thereon dated October 25, 2012. The financial statements are the responsibility of the management of the City of Wheaton. Our responsibility is to express opinions on the financial statements based upon our audit.

Our audit was made in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinions.

Compliance with laws, regulations, contracts and grants applicable to the City of Wheaton is the responsibility of the City of Wheaton's management. As part of obtaining reasonable assurance about whether the financial statements are free of material misstatements, we performed tests of the City of Wheaton's compliance with provisions in Subsection (q) of Section 11-74.4-3 of Public Act 85-1142, "An Act in Relation to Tax Increment Financing." However, the objective of our audit of the financial statements was not to provide an opinion on overall compliance with such provisions. Accordingly, we do not express such an opinion.

The results of our tests indicate that, with respect to the items tested, the City of Wheaton complied, in all material respects, with Subsection (q) of Section 11-74.4-3 of Public Act 85-1142.

This report is intended solely for the information and use of the City Council, management, the State of Illinois, and others within the City and is not intended to be, and should not be, used by anyone other than the specified

Bi~lA V~~L8 Oak Brook, IlIin~ October 25, 2012

~ .IWft1':!'Itflll.",~ .. t" BAKER TILLY ' INTERNATIONAL

Page 165

STATISTICAL SECTION

This part of the City of Wheaton'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 City's overall financial health.

Contents Page (s)

Financial Trends These schedules contain trend information to help the reader understand 166-170 how the City's financial performance and well-being have changed over time.

Revenue Capacity These schedules contain information to help the reader assess the City's most significant local revenue source, the property tax.

Debt Capacity These schedules present information to help the reader assess the affordability of the City's current levels of outstanding debt and the City's ability to issue additional debt in the future.

Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the City's financial activities take place.

Operating Information These schedules contain service and infrastructure data to help the reader understand how the information in the City's financial report relates to the services the City provides and the activities it performs.

171-176

177-180

181-182

183-185

Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial reports for the relevant year. The City implemented GASB Statement 34 in fiscal year 2004. Schedules presenting government-wide information include information beginning in that year.

""" ., "" " 0\ 0\


NET ASSETS BY COMPONENT

Last Nine Fiscal Years

Fiscal Year 2004 2005 2006 2007


Invested in Capital Assets Net of Related Debt $ 204,875,894 $ 212,065,584 $ 211,126,553 $ 209,921,790

Restricted 2,634,534 2,947,683 6,254,536 5,383 ,292

Unrestricted 9,593.343 5,926,672 ~240,435) (1 ,249.582)

Total Governemntal Activities $ 217.103,771 $ 220,939,939 $ 217 ,140,654 $ 214,055,500

Business-type Activities

Invested in Capital Assets Net of Related Debt $ 39,477,525 $ 39,860,428 $ 41,630,099 $ 41,815,489

Restricted

Unrestlicted 6,354,494 6,494,388 6,542,906 6,951 ,738

Total Business-type Activities $ 45,832,019 $ 46,354,816 $ 48,173,005 $ 48,767,227

Primary Government

Invested in Capital Assets Net of Related Debt $ 244,353,419 $ 251 ,926,012 $ 252,756,652 $ 251,737,279

Restricted 2,634,534 2,947,683 6,254,536 5,383,292

Unrestricted 15,947,837 12 ,421,060 6,302,471 5,702,156

Total Primary Government ~2()2.935,790 $ 267,294,755 $ 265,313.659 $ 262.822.727

* Only nine (9) years of data has been disclosed due to GASB 34 not being implemented until 2004

Data Source

Audited Financial Statements

2008 2009 2010 2011 2012

$ 210,298,073 $ 205,423,217 $ 200,205,415 $ 196,656,705 $ 194,660,201

3,518,388 3,077,731 3,399,030 3,641,861 7,573,021

33 ,989 (614,203) 6,763 ,205 13,500,619 19,613,997

$ 213,850,450 $ 207.886,745 $ 210,367,650 $ 213,799,185 $ 221,847,219

$ 40,264,961 $ 42,078,129 $ 41,109,642 $ 41,202,244 $ 42,466,630

9.848.032 10,287,079 10,514,526 9,910,646 8,554,253

$ 50,112,993 $ 52,365.208 $ 51.624,168 $ 51,112,890 $ 51,020,883

$ 250,563,034 $ 247,501 ,346 $ 241,315 ,057 $ 237,858,949 $ 237,126,831

3,518,388 3,077,731 3,399,030 3,641,861 7,573,021

9,882,021 9.672,876 17 ,277,731 23.411,265 28,168,250

$ 263,963,443 $ 260,251 ,953 $ 261,991 ,8 18 $ 264.912.075 $ 272,868,102


CHANGE IN NET ASSETS


Fiscal Year 2004 2005 2006 2007 2008 2009 2010 2011 2012

Expenses Governmental Activities

General government S 5,664,097 $ 5,825,541 S 10,990,787 S 9,499,824 S 10,006,773 S 10,199,767 S 8,629,135 S 8,235,651 $ 7,796,579 Public safety 16,402,780 16,760,601 17,936,373 19,332,987 19,718,070 20,460,615 20.297,481 20,826,751 20,505,325 Highways and s[reets 13,211,620 10,140,527 10,839,859 12,648,558 12,495,967 13,134,517 10,439,164 12,478,424 10,453,763 Culture and recreation 715 ,546 565,762 783,943 627,046 103,580 105,770 107,415 99,516 97,757 Interest 1,190,138 1,957.806 2,352.036 2.332.524 2,230.433 2,136,980 2,087,914 2.073,237 1.965.633

Total Governmental Activities Expenses 37.184,181 35,250,237 42.902.998 44.440.939 44.554.823 46,037,649 41,561,109 43,713,579 40,819,057

Business-type Activiries Waterworks 5,897,547 5,859,958 5,962,417 5,695,225 5,661,181 5,893,481 6,278,503 6,981 ,970 7,486,425 Sewerage 2,582,148 2,825,178 3,193,968 3,245.241 3,543,780 3,883,554 3,857.560 3,457.633 3,574,276 Parking Revenue 758,449 589.753 807.542 753 .906 860.559 1.075.566 1, 195,836 1.148.283 1.270.978

Total Business-type Activities Expenses 9,238,144 9.274,889 9.963.927 9.694.372 10.065.520 10.852,601 11,331,899 11,587,886 12,331,679

Total Primary Government Expenses $ 46.422.325 $ 44.525. 126 $ 52.866.925 54,135.311 $ 54.620.343 $ 56.890.250 52.893,008 $ 55,301,465 $ 53.150,736

Program Revenues Governmental Activities

Charges for Services General Government 1,000,248 1,453 ,345 1,406,933 1,558,377 1,813,089 1,719.153 2.377,891 2,740.249 2,805,791 Public Safety 1,499,438 1,608,56 1 1,796.903 1,761 .430 1,785,533 1,904,526 1,852,014 2,096,435 2.927.803 Highways and streets 72,979 64.918 42,576 180,887 214,683 118,923 34,094 37.237 66,705 Culture and recreation 415,449 474,128 490,512 541,583

Operating grants and contributions 1,609,722 1.656,639 1,688,348 1,7 17,187 1,673,500 1,617,826 1,466,707 1,874,379 1,977,958 Capital grants and contributions 358,199 4.673.767 923,123 424,431 1,407,046 61,515 1,459,298 354.490 816.715

Total Governmental Activities Program Revenues 4,956,035 9,931 ,358 6.348.395 6.183.895 6.893,851 5,421,953 7,190,004 7,102 ,790 8,594,972

Business-type Activities Charges for Services

Waterworks $ 6,019,315 $ 6,063,699 6,603,545 5,782,486 $ 5,464,859 $ 5,273,095 $ 4,755,631 $ 5,336,070 6,077,673 Sewerage 2,986,305 2,937,458 3,677,320 3,528,000 4,053,176 4,593,383 4,174,431 4,229,943 3,749,649 Parking Revenue 396,565 424,636 461 ,769 499,936 492,643 524,315 555,769 601,480 635,318

Operating grants and contributions Capital grants and contributions 365.330 197.700 797 .. 338 100,230 592.374 1.918.079 95.100 980,000

Total Business-type Activities Program Revenues 9.767.515 9.623.493 11.539,972 9.910,652 10.603.052 12.308.872 9.485.831 10,262,593 11.442,640

Total Primary Government Program Revenues $ 14,723,550 $ 19.554,85 1 $ 17 .. 888.367 16.094.547 $ 17.496.903 $ 17,730,825 $ 16,675,835 $ 17,365,383 $ 20,037,612

Net (Expense) Revenue

." Governmental Activities $ (32,228,146) $ (25,318,879) $ (36,554,603) (38,257,044) $ (37,660,972) $ (40,615,696) $ (34,371, I 05) $ (36,610,789) $ (32,224,085)

'" Business-type Activities 529,371 348.604 1.576.045 216.280 537.53? 1,456.271 (1.846.068) (1.325.293) (889,039) ~ a.

Total Primary Government Net (Expense) Revenue $ (31,998.775) $ 124.970.275) $ (34.978.5581 _(~LOiO,764) (37,123,440) (3~. 159 .4251~ (36.217, 173) $ (37.936 ,08l) $ (33,113.124) -..I

;;,<'

'" " '" 00

Fiscal Year

General Revenues and Other Changes in Net Assets Governmental Activities

Taxes Property S Sales Real Estate Transfer Income and Local Use Utility Replacement Other

Investment income Miscellaneous Transfers in (out)

Total Governmental Activities

Business·type Activities Property Tax Investment income Miscellaneous Transfers in (out)

Total Business-type Activities

Total Primary Government $

Change in Net Assets Governmental Activities $ Business-type Activities

Total Primary Government Change in Net Assets ..l

• Only nine (9) years of data has been disclosed due to GASB 34 not being implemented unti12004

Data Source

Audited Financial Statements


CHANGE IN NET ASSETS


2004 2005 2006

9,377,824 $ 10,092,999 S 12,253,910 S 6,215,309 8,073,019 8,495,007

952,530 1,037,688 976,693 3,891,5 14 4,344,430 4,902,193 4,6 13.579 4,664,298 4,552,903

140,414 160,038 206,502 17,972 20,339 12,155

182,953 603,903 1,220,583 174,322 158,333 135,372

25.566.417 29,155,047 32,755.318

38,989 38,833 39,563 43,170 135,360 183,581

19,000

82,159 174,193 242,144

25,648 ,576 $ 29.329.240 $ 32,997.462 $

(6,661,729) $ 3,836,168 $ (3,799,285) $

611.530 522,797 1.818,189

(6.050.199) $ 4.358.965 $ (1,981,096) $

2007 2008 2009 2010 2011 2012

13,844,792 14,694,913 15,436,408 17,748,893 S 19,952,352 S 20,043,643 8,385.428 8,499,422 8,157,188 9,136,252 9,320,258 9,300,068 1,013,188 802,1 17 549,154 626,134 434,249 599,214 5,383,693 5,886, 101 5,83 I ,2 I 7 5,060,364 5,1 15,036 5, 104,090 4,213,572 4,312,083 4,285,824 4, 125, 139 4,959,74 I 4,829,821

124,388 255,916 234,324 207,412 227,179 211,349 37 34

1,600,423 1,034,134 412,722 243,749 80,886 108,047 506,369 290,737 163,879 465,573 692.473 819,081

(66,602) (418,725) (761.506) (739,850) (743,194)

35,171,890 35,708,855 34,651,991 36,852,010 40,042,324 40,272,119

40,770 40,151 41,145 40,660 41,716 40,108 337,172 701,481 336,074 151 ,736 32,449 13,730

151,126 66,602 418 ,725 761.506 739.850 743,194

377,942 808.234 795,944 1.105.028 814.015 797.032

35.549.832 $ 36.517,089 $ 35.447,935 $ 37,957,038 $ 40,856,339 $ 41,069,151

(3,085,154) $ (1,952,117) $ (5,963,705) $ 2,480,905 $ 3,431,535 $ 8,048,034 594,222 1.345,766 2,252.215 (741.040) (511.278) (92.007)

(2.490,932) $ (606.351) $ (3,711.490) $ 1.739.865 $ 2,920,257 $ 7,956,027

"" '" "" " ~ '-D

Fiscal Year

General Fund Reserved Unreserved Nonspendable Restricted Assigned Unassigned

Total General Fund

All Other Governmental Funds Reserved Unreserved, reported in

Special Revenue Funds Capital Project Funds

Restricted Assigned Unassigned (deficit), reported in

Special Revenue Funds

Total All Other Governmental Funds

Data Source

City Audited Financial Statements *The city implemented GASB 54 in liscal year 2012.

2003

$ 2,528,515 $ 5,122,192

$ 7,650,707 $

$ 917,657 $

473,819 2,326,657

$ 3,718.133 $


FUND BALANCES OF GOVERNMENTAL FUNDS

Last Ten Fiscal Years

2004 2005 2006 2007

2,557,630 $ 2,571,748 $ 2,311,696 $ 4,246,341 6,196,562 7,020,896 8,556,493 9,380,993

8.754,192 $ 9,592,644 $ 10,868,189 $ 13.627.334

5,449,690 $ 22,016,244 $ 16,832,464 $ 7,062,773

(140,317) 148,210 (354,207) (3,286,145) (159,927)

5,149.446 $ 22 ,164,454 $ 16,478,257 $ 3,776,628

2008 2009 2010 2011 2012

$ 3,735,027 $ 3,300,343 $ 2,772,335 $ 2,139,328 $ 7,976,076 5,198,927 6,756,862 11,119,702

1,000,383 . 160,822

2,899,463 13.089,519

$ 11,711,103 $ 8,499,270 $ 9,529,197 $ 13,259,030 $ 17,150,187

$ 4,061,642 $ 2,772,908 $ 9,384,901 $ 7,711,574 $

(3,040,636) (2,494,596) (1,696,494) (510,317) (231,753)

9.040,753 12,431

(26,806)

$ 789.253 $ 278.312 $ 7,688,407 $ 7,201,257 $ 9,026,378


CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Revenues

Taxes $ 23,016,188 $ 25,209,142 $ 28,392,810 $ 31 ,399,363 $ 33,065,100 $ 34,450,585 $ 34,494,115 $ 36,904,194 $ 40,008,815 $ 40,088,185 Licenses and pennits 485,268 581,424 867,231 815,500 920,510 726,720 660,612 392,849 453,334 472,355 Intergovernmental 2,270,147 1,967,921 1,783,975 1,902,607 1,992,436 1,739,145 1,679,351 1,466,707 1,874,379 2,083,758 Charges for services 2,283,320 1,621,802 652,145 1,955,567 2,161,665 2,128,979 2,123,029 2,166,709 2,541,129 3,138,705 Fines and FOlfeitures 738,047 602,684 1,891,328 786,198 777,005 751,313 758,914 545,899 631,108 683,295 Investment income 1,268,071 182,953 603,903 1,220,583 1,600,423 1,034,134 412,722 99,108 73,498 75,835 Miscellaneous 418,594 356,526 348,582 315.031 689,464 497,032 363,926 1,633,107 1,000,145 1,334.329

Total revenues 30,479,635 30,522,452 34.539,974 38.394.849 41.206,603 41,327,908 40,492,669 43,208,573 46,582,408 47,876,462

Expenditu res

General government 6,154,159 5,250,788 5,712,942 10,691,014 8,372,611 8,721,249 7,974,114 6,438,122 5,905,517 5,999,699 Public safety 14,833,799 14,907,814 16,609,777 17,702,810 19,110,113 20,921,514 20,788,317 20,129,693 20,279,905 21,319,349 Highways and streets 7,461,457 6,346,432 6,611,746 7,561,691 9,207,295 9,697,125 10,499,052 7,488,568 8,319,125 7,967,720 Culture and recreation 507,526 552,220 564,927 781,222 644,030 103,580 105,770 107,415 99,516 97,757 Capital outlay 3,716,839 4,356,134 3,637,846 9,979,138 9,203,474 2,234,116 51 ,767 1,183,034 2,452,312 659,273 Debt Service

Plincipal 3,285,000 1,705,000 1,895,000 2,345,000 2,330,000 2,440,000 2,535,000 2,870,000 3,465,000 3,575,000 Interest 1,441,759 1,224,366 1,653,489 2,032,558 2,277,164 2,208,324 2,121,878 2,031 ,105 2,082,826 2,000,098 Fiscal charges 5,945 5,301 4,762 3,700 4,400 2,725 2,550 Bond issuance costs 75,014 321,154 92.095

Total expenditures 37.406.484 34.423.069 37.011.643 51 ,189,228 51 ,149,087 46.328.633 44.078.448 40,247,937 42,604,201 41,618,896

Excess of Revenues over (under) Expenditures (6,926,849) (3,900,617) (2,471,669) (12,794,379) (9,942,484) (5,000,725) (3,585,779) 2,960,636 3,978,207 6,257,566

Other Financing Sources (Uses) Transfers in 672,801 679,668 674,763 668,850 2,920,893 3,091,578 2,784,994 1,857,893 2,830,617 3,034,633 Transfers (out) (672,801) (679,668) (674,763) (668,850) (2,920,893) (3,00 I ,021) (2,922,819) (2,619,399) (3,570,467) (3,777,827) Issuance of bonds at par 10,825,000 30,845,000 8,350,000 6,000,000 Premiuml(Discount) on issuance of bonds 110,900 552,308 33,727 230,767 Payment to escrow agent (5,458,913) (11,072,178) Sale of capital assets 6.562 830 10,125 4,326 201.906

Total Other Financing Sources (Uses) 5.476,987 20,325,130 8,383 ,727 97.119 {136,995) 5,4 79,386 (735.524) (541.288)

Net Change in Fund Balances $ (6.926.849) $ 1,576.370 $ 17.853,461 $ (4,410,652) $ (9.942.484) $ (4.903.606) $ (3.722,774) $ 8,440,022 $ 3,242,683 $ 5,716,278

Debt Service as a Percentage of Noncapital Expenditures 14.03% 9.74% 10.63% 10.62% 10.83% 10.41% 10.79% 12.58% 13.49% 13.61%

Data Source

Audited Financial Statements "" 0> ~ (1)

---I 0

"C

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ASSESSED VALUE AND ACTUAL VALUE OF TAXABLE PROPERTY

Last Ten Levy Years

Levy Residential Commercial Industrial Railroad Year Property Property Property Property

2002 1,189,669,952 241,355,790 1,384,610 416,462

2003 1,293,509,566 246,868,645 1,397,090 450,501

2004 1,395,063,173 265,970,230 1,460,340 507,645

2005 1,521,893,691 283,652,466 1,456,950 478,184

2006 1,655,100,928 302,344,210 1,560,380 476,600

2007 1,796,402,453 327,967,814 6,161,950 546,608

2008 1,881,971,774 351,476,730 5,717,390 571,809

2009 1,886,189,580 345,394,131 11,026,690 688,591

2010 1,819,849,352 336,922,887 10,667,490 860,753

2011 1,702,162,832 330,410,891 10,549,082 916,892

Data Source

Oftice of the DuPage County Clerk

Note: Property in the City is reassessed by the Township Assessor on a quadrennial basis. Property is assessed at 33% of actual value.

Total Estimated Ratio of Total Taxable Direct Actual Assessed Value

Assessed Tax Taxable to Estimated Value Rate Value Actual Value

1,432,826,814 0.7289 4,298,480,442 33.333%

1,542,225,802 0.7204 4,626,677 ,406 33.333%

1,663,001,388 0.7980 4,989,004,164 33 .333%

1,807,481,291 0.8302 5,422,443,873 33.333%

1,959,482,118 0.8111 5,878,446,354 33.333%

2,13 I ,078,825 0.7695 6,393,236,475 33.333%

2,239,737,703 0.7682 6,719,213,109 33.333%

2,243,298,992 0.8270 6,729,896,976 33.333%

2,168,300,482 0.8631 6,504,901,446 33.333%

2,044,039,697 0.9183 6,132,119,091 33.333%

"tl OJ

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-.l N


PROPERTY TAX RATES - DIRECT AND OVERLAPPING GOVERNMENTS

Tax Levy Year

City of Wheaton Corporate Library Debt Service Police Pension Fire Pension

Total City of Wheaton

DuPage County DuPage County Forest Preserve DuPage Airport Authority Milton Township Milton Township Road District Winfield Township School District 200 School District 502 Wheaton Park District Wheaton Mosquito Abatement School District #41 School District #87 School District #89 Glen Ellyn Park District Glen Ellyn Mosquito Abatement Carol Stream Park District Wheaton SSA #2 Wheaton SSA #3 Wheaton SSA #5 Wheaton SSA #6 Wheaton SSA #7

2002

0.2530 0.2104 0.1538 0.0698 0.0419 0.7289

0.2154 0.1534 0.0248 0.0133 0.0680 0.0983 4.3589 0.2179 0.6259 0.0114 3.1043 1.9224 2.9386 0.3087 0.0105 0.3622 0.3000 0.0285 0.9500 0.0000 0.0000

16.4414

* Property tax rates are per $100 of assessed valuation.

Data Source

Office of the DuPage County Clerk

2003

0.2545 0.1955 0.1569 0.0681 0.0454 0.7204

0.1999 0.1419 0.0230 0.0424 0.0651 0.0945 4.3124 0.2093 0.6356 0.0182 3.0030 1.8582 2.8279 0.3722 0.0096 0.3845 0.3000 0.0278 0.9500 0.0000 0.0000

16.1959

Last Ten Levy Years

2004

0.2617 0.1813 0.2438 0.0661 0.0451 0.7980

0.1850 0.1358 0.0213 0.0406 0.0622 0.0924 4.1367 0.1972 0.5919 0.0174 3.0665 1.7716 2.7083 0.3557 0.0090 0.3900 0.3000 0.0279 0.0000 0.9388 0.0000

15.8463

2005

0.3259 0.1936 0.1972 0.0692 0.0443 0.8302

0.1797 0.1271 0.0198 0.0388 0.0601 0.0901 4.0035 0.1874 0.6131 0.0169 2.9410 1.7200 2.6104 0.3418 0.0086 0.3808 0.3000 0.0371 0.0000 0.9470 0.0000

15.4534

2006

0.3182 0.1888 0.1918 0.0689 0.0434 0.8111

0.1713 0.1303 0.0183 0.0376 0.0582 0.0869 3.8783 0.1929 0.5952 0.0161 2.8419 1.7210 2.5370 0.33 I 5 0.0083 0.3742 0.3000 0.0367 0.0000 0.9500 0.0000

15.0968

2007

0.3200 0.1736 0.1656 0.0704 0.0399 0.7695

0.1651 0.1187 0.0170 0.0344 0.0555 0.0855 3.7274 0.1888 0.5660 0.0154 2.6994 1.6612 2.4271 0.3161 0.0078 0.3709 0.3000 0.0370 0.0000 0.9500 0.0000

14.5128

2008

0.3493 0.1518 0.1588 0.0737 0.0346 0.7682

0.1557 0.1206 0.0160 0.0346 0.0556 0.0845 3.7218 0.1858 0.5644 0.0153 2.7026 1.6507 2.4132 0.3122 0.0077 0.3736 0.3000 0.0379 0.0000 0.9500 0.0000

14.4704

2009

0.3934 0.1382 0.1674 0.0842 0.0438 0.8270

0.1554 0.1217 0.0148 0.0348 0.0559 0.0854 3.7698 0.2127 0.5749 0.0155 2.7176 1.6749 2.4238 0.3182 0.0078 0.3860 0.3000 0.0405 0.0000 0.9500 0.0000

14.6867

2010

0.4141 0.1522 0.1649 0.0882 0.0437 0.8631

0.1659 0.1321 0.0158 0.0373 0.0599 0.0924 4.0437 0.2349 0.6195 0.0166 2.9086 1.8378 2.6035 0.3382 0.0084 0.4271 0.3000 0.0308 0.0000 0.9500 0.0000

15.6856

2011

0.4467 0.1663 0.1725 0.0872 0.0456 0.9183

0.1773 0.1414 0.0169 0.0406 0.0651 0.1021 4.3812 0.2495 0.6787 0.0122 2.9994 2.0199 2.8555 0.3711 0.0093 0.4691 0.3000 0.0329 0.0000 0.0000 0.4500

16.2905


PRINCIPAL PROPERTY TAX PAYERS

CUlTent Year and Nine Years Ago

2011 2002 Percentage

of Total City

Taxable Taxable Taxable Assessed Assessed Assessed

TaxEa;ter Value Rank Valuation TaxEa;ter Value

The Habitat Company $ 21,666,670 1.06% Amli at Danada, Inc. $ 15,770,860

Amli at Danada, Inc. 21,166,664 2 1.04% The Habitat Company 12,436,800

Prisim Propelty Co. 17,107,990 3 0.84% Prudential Propelty Company 9,889,500

Avalon Propel1ies 14,988,140 4 0.73% Kennedy Associates 9,672,060

A V & BV Wheaton LLC 14,921,997 5 0.73% Avalon Propel1ies 9,007,840

Danada Centers, LLC 12,884,770 6 0.63% Wyndemere Retirement Company 8,620,180

Danada Square, LLC 10,915,575 7 0.53% Danada Square, LLC 8,601,670

Wheaton Propelty Partners 9,702,600 8 0.47% A V & BV Wheaton LLC 8,144,460

Westdale Asset Management (CNC) 9,499,050 9 0.46% CNC 5,459,240

Wyndemere Retirement Company 8,616,670 10 0.42% Willow Ltd., M&J 3,869,440

$ 141,470, 126 6.92% $ 91,472,050

NOTE: Every effort has been made to seek out and repol1 the largest taxpayers. However, many of the taxpayers contain multiple parcels, and it is possible that some parcels and their valuations have been overlooked.

Data Source


Percentage of Total

City Taxable

Assessed Rank Valuation

1.10%

2 0.87%

3 0.69%

4 0.68%

5 0.63%

6 0.60%

7 0.60%

8 0.57%

9 0.38%

10 0.27%

6.38%

Page 173


PROPERTY TAX LEVIES AND COLLECTIONS

Last Ten Levy Years

Collected within the Fiscal Year of the Levy Collections Total Collections to Date

Levy Percentage in Subsequent Percentage Year Tax Levied Amount of Levy Years Amount of Levy

2002 12,638,007 12,610,264 99.78% 301 12,610,565 99.78%

2003 13,349,116 13,324,561 99.82% 1,019 13,325,580 99.82%

2004 15,614,282 15,495,937 99.24% 548 15,496,485 99.25%

2005 17,626,952 17,586,072 99.77% 382 17,586,454 99.77%

2006 18,705,746 18,700,907 99.97% 4,696 18,705,603 100.00%

2007 19,476,747 19,411,244 99.66% 1,283 19,412,527 99.67%

2008 21,277,668 21,188,909 99.58% 645 21,189,554 99.59%

2009 23,212,524 23,085,494 99.45% 8,573 23,094,067 99.49%

2010 23,413,146 23,381,706 99.87% 1,719 23,383,425 99.87%

2011 23,088,620 N/A 0.00% 0 0.00%

Data Source


Note: Property in the City is reassessed by the Township Assessor on a quadrennial basis. Property is assessed at 33% of actual value.

Page 174

.." '" (Jq fl)

...., Vl


TAXABLE SALES BY CATEGORY

Last Ten Calendar Years

Calendar Year 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

General merchandise $ 759,360 $ 712,080 $ 881,564 $ 1,043,616 $ 1,158,253 $ 1,135,112 $ 1,087,102 $ 1,378,591 $ 1,412,649 $ 1,397,156

Food 1,563,032 1,647,592 1,780,760 1,940,427 1,877,650 1,944,827 1,882,237 2,106,900 2,047,031 2,099,114

Drinking and eating places 604,537 626,342 819,330 943,197 1,007,913 1,001,733 1,036,154 1,325,120 1,290,163 1,359,099

Apparel 314,841 345,425 451,432 549,287 530,625 527,002 460,246 471,929 450,083 451,032

Furniture & H.H. & radio 292,069 254,795 313,754 468,057 409,951 411,797 391,477 385,967 342,753 343,184

Lumber, building hardware 320,142 309,432 467,206 611,942 233,646 402,816 324,952 203,400 194,690 184,015

Automobile and filling stations 829,980 814,823 809,498 906,649 883,654 763,452 623,486 619,324 752,962 794,655

Drugs and miscellaneous retail 996,535 1,058,964 1,249,895 1,395,401 1,736,420 1,553,902 1,372,934 1,675,827 1,921,776 2,014,115

Agriculture and all others 545,302 361,782 456,784 613,980 650,083 665,547 678,895 718,145 578,100 542,154

Manufacturers 26,456 70,531 85,138 43,591 44,292 46,023 78,883 224,681 241,406 138,036

TOTAL $ 6,252,254 $ 6,201,766 $ 7,315,361 $ 8,516,147 $ 8,532,487 $ 8,452,211 $ 7,936,366 $ 9,109,884 $ 9,231,612 $ 9,322,561

City direct sales tax rate 1.00% 1.00% 1.50% 1.50% 1.50% 1.50% 1.50% 2.00% 2.00% 2.00%

Data Source

Illinois Department of Revenue

Note: This schedule reflects the City'S 1 % share of the statewide tax on general merchandise and I % of taxable sales on qualifying food, drugs and medical appliances made at businesses located within the corporate limits of the City. Effective July 1,2004, the City of Wheaton implemented a 0.50% Local Home Rule Sales Tax which is applicable to all sales except qualifying food and drugs not prepared for immediate consumption and titled vehicles. On January 1,2009 the Local Home Rule Sales Tax was increased and additional 0.50% .


DIRECT AND OVERLAPPING SALES TAX RATES


City City DuPage Regional Total Fiscal Direct Home Rule DuPage Water Transportation State Sales Tax Year Rate Rate County Commission Authority Rate Rate

2003 1.00% 0.00% 0.25% 0.25% 0.25% 5.00% 6.75%

2004 1.00% 0.00% 0.25% 0.25% 0.25% 5.00% 6.75%

2005 1.00% 0.50% 0.25% 0.25% 0.25% 5.00% 7.25%

2006 1.00% 0.50% 0.25% 0.25% 0.25% 5.00% 7.25%

2007 1.00% 0.50% 0.25% 0.25% 0.25% 5.00% 7.25%

2008 1.00% 0.50% 0.25% 0.25% 0.75% 5.00% 7.75%

2009 1.00% 1.00% 0.25% 0.25% 0.75% 5.00% 8.25%

2010 1.00% 1.00% 0.25% 0.25% 0.75% 5.00% 8.25%

2011 1.00% 1.00% 0.25% 0.25% 0.75% 5.00% 8.25%

2012 1.00% 1.00% 0.25% 0.25% 0.75% 5.00% 8.25%

Data Source Illinois Department of Revenue

Note The City of Wheaton implemented a 0.50% Local Home Rule Sales Tax effective July 1,2004 and increased the rate an additional 0.50% effective January 1, 2009. Home Rule Sales Tax is applicable to all sales except qualifYing food and drugs not prepared for immediate consumption and titled vehicles.

The Regional Transpiration Authority increased its sales tax rate 0.50% effective April 1,2008.

Page 176


RATIOS OF OUTSTANDING DEBT BY TYPE


Governmental Activities Business-Type Activities Percentage Gross General General Total of Debt

Fiscal Obligation Obligation Primary Personal Per Year Bonds Bonds Government lncome* Capita*

2003 24,160,000 24,160,000 1.28% 435.98

2004 28,030,000 28,030,000 1.48% 505.81

2005 46,450,000 46,450,000 2.45% 838.21

2006 52,455,000 52,455,000 2.77% 946.57

2007 50,125,000 50,125,000 2.65% 904.52

2008 47,685,000 5,900,000 53,585,000 2.83% 966.96

2009 45,150,000 5,725,000 50,875,000 2.55% 918.06

2010 48,280,000 5,200,000 53,480,000 2.44% 1,011.08

2011 44,815,000 4,675,000 49,490,000 2.26% 935.64

2012 41,240,000 4,125,000 45,365,000 2.30% 857.66

Note: Details of the City's outstanding debt can be found in the notes to the financial statements.

* See the Schedule of Demographic and Economic Statistics on page 181 for personal income and population data.

Data Source: Audited City Financial Statements

Page 177


RATIOS OF GENERAL BONDED DEBT OUTSTANDING


Percentage of Less: Amounts Total

General Available Taxable Assessed Fiscal Obligation In Debt Value of Year Bonds Service Fund Total Property*

2003 24,160,000 917,657 23,242,343 1.62%

2004 28,030,000 882,367 27,147,633 1.76%

2005 46,450,000 525,410 45,924,590 2.76%

2006 52,455,000 1,540,734 50,914,266 2.82%

2007 50,125,000 1,296,804 48,828,196 2.49%

2008 53,585,000 1,730,417 51,854,583 2.43%

2009 50,875,000 1,652,965 49,222,035 2.20%

2010 53,480,000 1,669,426 51,810,574 2.31%

2011 49,490,000 1,710,998 47,779,002 2.20%

2012 45,365,000 1,747,374 43,617,626 2.13%

Note: Details of the City's outstanding debt can be found in the notes to the financial statements.

* See the Schedule of Assessed Value and estimated Actual Value of Taxable Property on page 171 for property value data.

Data Source

Audited financial statements

Net Bonded Debt

Per Capita*

419.42

489.89

828.72

918.76

881.12

935.73

888.23

979.52

903.30

824.62

Page 178


DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT

April 30, 2012

Percentage City of Debt Applicable Wheaton

Gross to the City of Share Governmental Unit Debt Wheaton (1) of Debt

City of Wheaton $ 41,240,000 100.00% 41240,000

DuPage County Forest Preserve District 199,537,210 5.42% 10,814,917

DuPage County 297,895,000 5.42% 16,145,909

Wheaton Park District 46,527,905 86.29% 40,148,929

Carol Stream Park District 42,030,225 0.19% 79,857

Glen Ellyn Park District 13,700,000 4.12% 564,440

Glen Ellyn School District #41 17,236,550 5.10% 879,064

Grade School Dirstrict #89 22,440,000 18.88% 4,236,672

Glenbard High School District #87 39,025,000 3.99% 1,557,098

Community Unit School Dist. #200 193,850,000 59.78% 115,883,530

Community College District #502 271,090,000 5.57% 15,099,713

TOTAL OVERLAPPING DEBT 1,143,331,890 205,410,129

TOTAL DIRECT AND OVERLAPPING DEBT $ 1,184,571,890 $ 246,650,129

(1) Determined by ratio of assessed valuation of property subject to taxation in the City of Wheaton to valuation of property subject to taxation in overlapping unit.

Data: Office of the DuPage County Clerk

Page 179


SCHEDULE OF LEGAL DEBT MARGIN

April 30, 2012

Under the 1970 Illinois Constitution, there is no legal limit for home rule municipalities except as set by the General Assembly.

Page 180

Fiscal Year

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Data Sources


DEMOGRAPHIC AND ECONOMIC INFORMATION


Population (1)

55,416 (a) 55,416 (a) 55,416 (a) 55,416 (a) 55,416 (a) 55,416 (a) 55,416 (a) 52,894 (b) 52,894 (b) 52,894 (b)

Personal Income (1)

1,892,290,152 1,892,290,152 1,892,290,152 1,892,290,152 1,892,290,152 1,892,290,152 1,892,290,152 2,187,325,582 2,187,325,582 1,968,593,024

(a) (a) (a) (a) (a) (a) (a) (b) (b) (2)

Per Capita

Personal Income

34,147 34,147 34,147 34,147 34,147 34,147 34,147 41,353 41,353 37,218

(1) U.S . Department of Commerce, Bureau of the Census

City Unemployment

Rate (2)

4.7% 4.3% 3.9% 2.8% 3.0% 3.4% 6.8% 7.8% 5.9% 6.3%

(2) Illinois Department of Employment Security, Illinois Labor Market Information (LMI) for the City of Wheaton Unemployment Percentage is as of April 30th of Fiscal Year

(a) 2000 Census

(b) 2010 Census

Page 181


PRINCIP AL EMPLOYERS

Current Year and Nine Years Ago

2012 2003 %of %of

Total City Total City Number of Employment Number of Employment

Employer Type of Business Employees Rank 28,605 Employees Rank 29,090

DuPage County Govemment Center Govemment administration 2,300 8.00% 3,400 11.69%

School DistJict Number 200 School district 1,100 2 3.80% 1,300 2 4.47%

First Trust POItfolios L.P. Investment and advisory services 565 3 2.00% 0.00%

Wheaton College Private college 550 4 1.90% 600 3 2.06%

Jewel Foods Retail food 297 5 1.00%

City of Wheaton City govemment 294 6 1.00% 355 4 1.22%

Wheaton Pm'k DistJict Park disu;ct govemment 280 7 1.00% 0.00%

Wheaton Sports Center Health Club 270 8 0.90% 0.00%

Target Retail 254 9 0.90% 0.00%

Wynscape Nursing & Rehabilitation Nursing and rehabilitative care 205 10 0.70% 0.00%

JPMorgan Chase Banking services 0.00% 344 5 1.18%

College Craft Painters Painting & decorating contractors 0.00% 263 6 0.90%

AlcoaJIvex Corp. ThennofOlmed plastic packaging materials 0.00% 250 7 0.86%

F.E. Wheaton & Co., Inc. Retail lumber and building matetials 0.00% 155 8 0.53%

RJN Group, Inc. Consulting engineers 0.00% 75 9 0.26%

Acme Screw Co., Inc. Cold headed fasteners 0.00% 63 10 0.22%

Totals 6,115 21.40% 6,805 23.40%

Date Sources

City's official statement for 2003. Illinois Depruiment of Employment Secutity, Illinois Services DirectOlY and telephone swV'ey.

Page 182


FULL-TIME EQUIVALENT EMPLOYEES


Function/PrOgram 2003 2004 2005 2006 2007 2008 2009 2010 201 I 2012

General Government Administrative Services 4.00 4.00 4.00 5.00 5.00 5.00 5.00 4.50 4.50 4.50 Finance 11.00 11.00 10.50 10.00 10.00 10.00 10.00 10.00 10.00 10.00 Human Resources 2.75 2.50 2.50 2.50 2.50 3.00 3.00 3.00 3.00 3.00 Information Technology 4.00 4.00 5.00 5.30 5.50 5.50 5.50 4.00 5.00 6.00 Communications 6.25 6.00 6.00 6.50 6.50 6.50 6.00 5.00 5.00 5.00 Engineering 8.10 8.43 8.43 7.93 7.93 7.68 7.68 5.00 5.00 5.00 Building & Code Enforcement 9.30 9.38 7.33 7.83 7.83 7.83 7.33 7.00 7.00 7.00 Planning & Economic Dev. 3.00 2.34 2.34 2.34 2.34 2.34 2.34 2.00 2.00 2.00 Building & Grounds 0.00 0.00 1.05 1.05 1.05 1.05 2.00 3.00 3.00 3.00

Public Safety Police

Officers 68.00 68.00 68.00 68.00 71.00 71.00 68.00 66.00 65.00 65.00 Civilians 30.65 27.70 27.70 27.70 28.70 28.30 26.90 20.90 19.29 18.75

Fire Firefighters and officers 35.00 34.00 34.00 34.00 35.00 35.00 38.00 38.00 38.00 37.00 Civilians 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00 0.50 0.50

Public Works Administration 4.50 4.50 4.10 4.10 4.10 4.10 2.65 1.75 2.00 2.50 Street Maintenance 37.85 36.05 30.70 30.70 29.70 29.70 24.70 21.95 21.95 21 .50 Forestry & Parks 8.25 8.10 13.10 13.10 13.10 13.10 12.10 13.05 13.30 12.25 Water Division 16.05 16.05 16.25 16.25 16.25 16.25 15.25 14.00 14.00 13.90 Sewer Division 16.85 16.60 16.80 16.80 16.80 16.80 15.30 1420 14.45 14.35 Municipal Garage 10.75 10.75 10.75 10.75 10.75 10.75 9.75 9.25 8.50 8.50

Parking Enforcement 3.65 3.65 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00

Public Library 54.00 55.00 54.00 54.00 56.00 59.00 59.00 56.50 52 .25 52 .25

Total 334.95 329.05 325.55 326.85 333.05 335.90 323.50 301. 10 295.74 294.00

Data Source City Budget Office and Payroll Department

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Function/Program 2003


Physical arrests 1,576 Parking violations 12,104 Traffic violations 12,538

Fire Fire Response Calls 888 False Alarms 642 Fires Extinguished 33 Ambulance Calls 3,245

Water New connections 25 Water main breaks 70 Average daily pumpage 5,319,936

Library Total Book Collection 356,100 Circulation

Adult 655,738 Juvenile 513,896

Data Source

Various city department monthly and annual reports All operating indicator data is according to fiscal year

2004

1,505 11,440 11,047

672 430

23 2,284

59 42

5,033,481

363,440

670,935 524,358


OPERATING INDICATORS


2005 2006 2007

1,584 1,025 2,606 10,926 10,828 10,330 14,667 13,014 13,702

796 917 1,293 643 793 522

43 51 37 2,393 2,202 2,320

104 102 89 39 91 68

5,435,163 6,094,062 5,282,736

372,578 369,675 376,092

658,472 591,621 517,015 505,993 475,739 415,678

2008 2009 2010 2011 2012

1,427 1,224 1,259 1,102 1,160 10,853 11,541 11 ,005 10,407 10,528 16,952 15,198 12,234 8,613 11,913

1,870 1,786 1,560 1,586 1,392 538 42 44 40 515

74 62 73 76 22 2,479 2,432 2,745 3,205 3,063

67 38 38 22 28 55 75 49 59 47

5,463,767 5,065,532 4,822,219 4,936,578 4,668,186

389,091 401,643 409,874 418,382 429,357

723,821 790,879 653,745 630,912 630,493 523,497 549,941 548,376 516,226 527,990

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Function/Program


Police Stations Police vehicles

Fire Fire stations Fire/Rescue vehicles

Highways and streets Streets (miles)

Water Water mains (miles) Fire hydrants Storage capacity (gallons)

Sewer Sanitary sewers (miles) Storm sewers (miles)

Data Source

Various city departments

2003 2004

35 35

3 3 18 18

167.90 167.90

178.83 179.59 2,479 2,494

7,260,000 7,260,000

165.96 166.08 153.71 153.71


CAPITAL ASSET STATISTICS


2005 2006 2007

1 1 34 33 33

3 3 3 19 20 19

168.20 168.39 168.42

179.63 180.33 180.62 2,504 2,596 2,598

7,260,000 7,260,000 7,260,000

166.37 166.83 166.87 154.04 154.43 154.43

2008 2009 2010 2011 2012

1 36 34 31 31 32

3 3 3 3 3 19 17 17 17 17

168.79 168.79 168.79 168.79 168.79

181.04 181.13 181.13 181.13 181.13 2,536 2,536 2,536 2,536 2,537

7,260,000 7,260,000 7,260,000 7,260,000 7,260,000

167.14 167.19 167.19 167.23 168.92 155.25 155.25 155.25 155.74 155.74

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