2014 Annual Financial Audit

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Orl an

ric ist

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o t e r c P t ion e r i F D

Serving the Village of Orland Park, the Village of Orland Hills, and unincorporated areas of Orland Township in Illinois

Comprehensive Annual Financial Report For Fiscal Year Ended December 31, 2014

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS COMPREHENSIVE

ANNUAL FINANCIAL

YEAR ENDED DECEMBER

REPORT

31, 2014

Submitted by: Kerry Sullivan Finance Director

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 2014

CONTENTS

INTRODUCTORY

SECTION

Letter of Transmittal

I - V

GFOA Certificate of Achievement

VI

Organizational Chart

vii

Names and Titles of Principal Officials

viii

FINANCIAL SECTION Independent Auditor's Report

IX - XI

Management's Discussion and Analysis

Xll - xx

Basic Financial Statements: Government-wide

Financial Statements:

Statement of Net Position - Governmental Activities 2

Statement of Activities Fund Financial Statements: Balance Sheet - Governmental Funds

3

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

4

Statement of Revenues, Governmental Funds

Expenditures

and Changes

In Fund Balances

5

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

6

Statement of Revenues, Expenditures, Encumbrances and Changes in Fund Balances - Budget and Actual - General Fund and Major Special Revenue Fund

7 - 10

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 2014

CONTENTS

Statement of Fiduciary Net Position - Fiduciary Funds

11

Statement of Changes in Fiduciary Net Position - Fiduciary Funds

12 13 - 39

Notes to Basic Financial Statements Required Supplementary Information:

40 - 42

Firefighters' Pension Plan Illinois Municipal Retirement Fund

43

Retiree Health Insurance Plan

44

Combining and Individual Fund Financial Statements and Schedules: Major Governmental Funds: General Fund: Combining Schedule of General Fund Balance Sheet Accounts

45

Combining Schedule of General Fund Revenues, Expenditures and Changes in Fund Balances

46

Corporate Fund:

47

Balance Sheet Schedule of Revenues, Expenditures, Fund Balances - Budget and Actual

Encumbrances

and Changes m 48 - 49

Tort Liability Fund: 50

Balance Sheet Schedule of Revenues, Expenditures, Fund Balances - Budget and Actual

Encumbrances

and Changes

111

51

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 2014

CONTENTS

Emergency Rescue Fund:

52

Balance Sheet Schedule of Revenues, Expenditures, Fund Balances - Budget and Actual

Encumbrances

and Changes in

53 - 54

Ambulance Fund:

55

Balance Sheet Schedule of Revenues, Expenditures, Balances - Budget and Actual

Encumbrances

and Changes in Fund

56 - 57

Capital Projects Fund:

58

Balance Sheet Schedule of Revenues, Expenditures, Balances - Budget and Actual

Encumbrances

and Changes in Fund

59

Nonmajor Governmental Fund: Debt Service Fund:

60

Balance Sheet Schedule of Expenditures Actual

and Changes In Fund Balances - Budget and 61

Fiduciary Funds: Firefighters' Pension Fund: Statement of Fiduciary Net Position

62

Statement of Changes in Fiduciary Net Position

63

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 2014

CONTENTS

Retiree Health Insurance Fund: Statement of Fiduciary Net Position

64

Statement of Changes in Fiduciary Net Position

65

STATISTICAL

SECTION

Net Position by Component

66 - 67

Changes in Net Position

68 - 69

Fund Balances of Governmental Funds

70 - 71

Changes in Fund Balances of Governmental Funds

72 -73

Schedule of Assessed Value and Estimated Actual Value of Taxable Property

74 - 75

Schedule of Assessed Valuations, Tax Rates, Extensions and Collections

76 -77

Property Tax Rates - Direct and Overlapping Governments

78

Principal Property Taxpayers

79 - 80

Outstanding Debt by Type

81 - 82

Ratios of General Obligation Debt Outstanding

83

Direct and Overlapping General Obligation Debt

84

Legal Debt Margin Information

85 - 86

Demographic and Economic Statistics

87 - 88

Principal Employers

89 - 90

Full-time Equivalent District Employees by Type

91

Operating Indicators by Function

92

INTRODUCTORY SECTION

ORLAND FIRE PROTECTION DISTRICT Administration Center 9790 West 151st Street • Orland Park, IL 60462 ISO Class 2

708/349-0074 • Fax 708/349-0354 www.orlandfire.org

Board of Trustees: President Christopher Evoy Secretary Blair Rhode Treasurer jayne Schirmacher

Trustee John Brudnak Pres. Pro Tell!

Trustee James HickftJ

June 19,2015 Board of Trustees Orland Fire Protection District We are pleased to present the Comprehensive Annual Financial Report (CAFR) of the Orland Fire Protection District (the District) for the year ended December 31, 2014. The CAFR includes a complete set of financial statements presented in conformance with United States generally accepted accounting principles. The financial statements are audited by Mulcahy Pauritsch, Salvador & Co., Ltd., a firm of independent licensed certified public accountants who conducted the audit in accordance with generally accepted auditing standards.

This CAFR consists of management's representations concerning the finances of the District.

Consequently, management assumes full responsibility for the completeness and reliability of all of the information presented in this report. As management, we assert that to the best of our knowledge and belief, this financial report is complete and reliable in all material respects.

To provide a reasonable basis for making its representations, management has established a comprehensive internal control framework. This framework is d signe I.to provide reasonable assurance that assets are safeguarded against loss, from unauthorized use or disposition and that account transactions are executed in accordance with management's authorization and properly recorded so that the financial statements can be prepared in conformity with generally accepted accounting principles. The objective of the internal control framework is to provide reasonable, rather than absolute, assurance that the financial statements are free of any material misstatements.

The District's financial statements have been audited with the goal of providing reasonable assurance that the financial statements of the District for the fiscal year ended December 31, 2014, 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 lipan the audit, that there was a reasonable basis for rendering an unqualified opinion that the District's financial statements for the year ended December 31,2014 are fairly presented in conformity with generally accepted accounting principles. The independent auditor's report is presented as the first component of the financial section of this report.

Fire Chief Ken Bruchi

Generally accepted accounting principles require that management provide a narrative introduction, overview and analysis to accompany the basic financial statements in the form of Management Discussion and Analysis (MD&A). The MD&A immediately follows the Independent Auditor's Report. This transmittal letter is designed to complement the MD&A and should be read in conjunction with it.

Profile of the District The Orland Fire Protection District (the District) was organized in 1969. The District operates under the provisions of the Fire Protection district Act of the State of Illinois and the District operates under an elected Board of Trustees form of government. The five-member Board of Trustees constitutes the primary policy-making body of the District. The Board of Trustees are responsible for, among other things, determining District policies, adopting the annual budget, levying taxes, adopting ordinances, and authorizing the payment of bills. The Fire Chief is appointed by the Board of Trustees and is responsible for the daily operations and management of the District. The Fire Chief recommends to the Board of Trustees all such matters as may be deemed necessary for the fulfillment of the administrative duties of his office.

The District provides a full range of services to the residents of the Village of Orland Park, the Village of Orland Hills and the unincorporated areas of Orland Township. These services include fire suppression services, emergency medical services, underwater rescue, hazardous material response, fire prevention and public education.

The District operates six fire stations which were strategically built to minimize response times based on projected populations. The District also operates a vehicle maintenance facility, a regional training center and administrative offices which are adjacent to Fire Station 1.

The District's reporting entity includes general District government and all related organizations for which the District exercises financial accountability as defined by the Governmental Accounting Standards Board. Accordingly, the District includes the financial results of the Orland Firefighter's Pension Fund and the Orland Fire District Retiree Health Insurance Fund in these financial statements.

The President, Board of Trustees and staff of the District are intent on maintaining the District's strong financial condition, while continuing to provide the highest level of public services to its residents.

Financial Planning and Budgeting During the past few years, many governmental entities have been facing significant financial distress as the cost of providing services has outstripped available revenue sources. The cost of employer-provided benefits to both current and former employees is projected to continue to rise due to anticipated increases in health insurance costs as well as decreased investment returns on invested assets. Fortunately, the District has followed a consistent policy of maintaining strong fund balances in all funds as well as funding retirement and post-retirement benefit obligations well in excess of the annual minimum required amounts. The result of these actions has allowed

11

the District to minimize the future burden of these obligations as well as continue to provide a high level of service during these unsettled times.

The annual budget serves as the District's foundation for financial planning and control. All programs of the District are required to submit their budget requests to the Fire Chief before July 31 st of each year. After reviewing the budget requests, the Fire Chief presents a proposed budget to the Board of Trustees, who then hold public meetings to discuss the proposed budget. The tentative budget is made available to the public. The Board of Trustees is required to hold a public hearing on the proposed budget and to adopt the final budget no later than December 31 st of each year.

The budget is prepared by fund, but the format of the budget provides for a program budget with line item supplemental backup. Management is authorized to transfer budgeted amounts between departments within any fund; however, the Board of Trustees must approve any revisions that alter the total expenditures of any fund.

Budget to actual comparisons are provided in this report for General and Major Special Revenue Funds. The comparison is presented on pages 7-10 as part of the basic financial statements. For governmental funds other than the General and Ambulance Funds, this comparison is presented in the governmental fund subsection of this report beginning on page 45.

Economic Condition and Outlook The District's financial position, as reflected in the financial statements presented in this report, is perhaps best understood when it is considered from the broader perspective of the environment within which the district operates.

The District is located in southwest Cook County, approximately 22 miles from Downtown Chicago and serves the Villages of Orland Park, Orland Hills, and unincorporated areas of Orland Township. The District covers approximately 33 square miles and has a population of approximately 66,000. The number of households within the District is approximately 25,000.

The daytime population is higher due to the heavy retail concentration of Orland Park and Orland Hills. The area is easily accessible by O'Hare and Midway Airports, several interstate highways and Metro's commuter rail system.

The District has a diverse composition and economic base. Approximately 69% of the District's equalized assessed valuation (EA V) is related to residential development, 26% is related to commercial development and 5% is related to industrial development. The 2013 tax year EA V was $2,248,218,202. In the 2012 tax year, the District's EAV was $2,378,592,213. This 5.5% decrease is due, in large part, to the equalization factor issued by the Illinois Department of Revenue being reduced by 5.1 %. The EAV decrease caused the District's tax rate to increase.

Major employers within the District include Orland School District #135, the Village of Orland Park, Jewel/Osco Food Store, Carson Pirie Scott, lC. Penney, and Panduit Corporation. The District is the location for much retail development including Orland Square Mall, the Orland

11l

Park Place Mall, Orland Crossings, and Orland Towne Center along with numerous smaller retail centers.

Major Initiatives for 2014 The District continues to work within the scope of its projected revenue while continuing to provide quality public services to its residents.

The District staffs a minimum of four engine companies, two truck companies and five ambulance crews daily. During 2014, District firefighters and paramedics responded to 9,116 calls, a 7.3% increase over 2013. Approximately 57.0% of these calls were for emergency medical services. The number of emergency medical service calls increased by 329 calls, or 6.8% over 2013. Call volume to local assisted living facilities and rental units increased in 2014.

This trend is expected to continue.

District staff, under the direction of the Board of Trustees and the Fire Chief, have been involved in a variety of projects during 2014. A number of significant projects are discussed more thoroughly below.

•

To earn a retirement pension, a firefighter must be at least 50 years old and have earned at least 20 years of service. During 2014, 17 firefighters retired from the District at various times throughout the year. Retirees included one Battalion Chief, eleven Lieutenants, two Engineers and three firefighters.

•

In May, 2014, ten firefighters were hired to replace positions vacated due to attrition.

•

Vehicles were replaced, including two fire engines.

•

Improvements to the District's information technology infrastructure were initiated, including records management and finance software.

Major Initiatives for the Future Major initiatives for 2015 include maintaining adequate firefighter staffing levels to meet response benchmarks, continued focus on training and safety and operational efficiencies.

Negotiations for a labor agreement for the District's Lieutenants, Engineers and Firefighters belonging to Orland Professional Firefighters, Local 2754, will commence. The multi-year labor contract now in effect is set to expire on December 31, 2015.

Acknowledgements

and Awards

The District currently holds an Insurance Service Office (ISO) Class 2 rating. The District is one of only a small number of fire departments in the nation to enjoy a rating of ISO 2 or better. This acknowledgement of the District's accomplishments ranks within the top of all related fire departments in the nation. iv

The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the Orland Fire Protection District for its comprehensive Annual Financial Report (CAFR) for the previous six years beginning in 2008. A Certificate of Achievement is valid for a period of one year. We believe our current report meets the requirements of the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association and we are submitting it to GFOA to determine its eligibility for this year's award. To be awarded a Certificate of Achievement, the District must publish an easily readable and efficiently organized CAFR. This report satisfied both generally accepted accounting principles and other applicable requirements.

The timely preparation of the CAFR was made possible by the efficient and dedicated services of the Finance Department, Administration and other District employees who were instrumental in the successfully completion of this report. We sincerely appreciate and acknowledge the support and direction provided by the accounting firm of Mulcahy, Pauritsch, Salvador and Co., Ltd., in preparing the District's CAFR. We would also like to express our appreciation to the Board of Trustees for their leadership and support in planning and conducting the financial operations of the District in a responsible and progressive manner.

Respectfully submitted,

v

Government Finance Officers Association

Certificate of Achievement for Excellence in Financial Reporting Presented to

Orland Fire Protection District Illinois For its Comprehensive Annual Financial Report for the Fiscal Year Ended

December 31, 2013

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ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NAMES AND TITLES OF PRINCIPAL OFFICIALS DECEMBER 31,2014

Board of Trustees Mr. James P. Hickey - President Mrs. Jayne Schirmacher - Secretary Mr. Christopher G. Evoy - Treasurer Mr. John Brudnak - Member Mr. Blair Rhode - Member

Fire Chief Ken Brucki Finance Director Kerry Sullivan

viii

FINANCIAL SECTION

MULCAHY, PAURITSCH, SALVADOR&co,LTD. Certified Public Accountants/ Business and Personal Consultants

Honorable District President and Board of Trustees Orland Fire Protection District, Illinois

INDEPENDENT AUDITOR'S REPORT We have audited the accompanying financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of Orland Fire Protection District, Illinois, as of and for the year ended Decem bel' 31, 2014, and the related notes to the financial statements, which collectively comprise the District's basic financial statements as listed in the table of contents. We have also audited the fiduciary fund type of Orland Fire Protection District, Illinois, as of and for the year ended December 31, 2014, as displayed in the District's basic financial statements.

Management's

Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America' this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility 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 from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriatene of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the fi.nancial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

lX

14300 Ravinia Ave .• Suite 200 • Orland Park, IL. 60462 • 708/349-6999 • Fax 708/349-6639 40 I S. LaSalle St. • Suite 606 • Chicago, IL 60605 • 3121786-5979 • Fax 708/349-6639 7500 S. County Line Rd .• Burr Ridge, IL 60527 • 630/887-7838 • Fax 630/887-7895

Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information as well as the fiduciary fund type of Orland Fire Protection District, Illinois, as of December 31, 2014, and the respective changes in financial position thereof and the respective budgetary comparison for the General Fund and the major special revenue fund for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Change in Accounting Principle Orland Fire Protection District, Illinois adopted GASB Statement No. 67, Financial Reportingfor Pension Plans, which modified certain disclosures in the notes to basic financial statements and the required supplementary information. Our opinion is not modified with respect to this matter.

Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management's discussion and analysis on pages xii through xx and schedules of funding progress on pages 40 through 44 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, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements.

We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

Other Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the basic financial statements of Orland Fire Protection District, Illinois. The introductory section, combining and individual fund financial statements and schedules, and statistical section are presented for purposes of additional analysis and are not a required part of the basic financial statements.

The combining and individual fund financial statements and schedules are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining and individual fund financial statements and schedules are fairly stated, in all material respects, in relation to the basic financial statements as a whole.

x

The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them.

We also have previously audited, in accordance with auditing standards generally accepted in the United States of America, the basic financial statements of Orland Fire Protection District, Illinois, for the year ended December 31, 2014, which are not presented with the accompanying financial statements and we expressed unmodified opinions on the respective financial statements of the governmental activities, each major fund, and the aggregate remaining fund information as well as the fiduciary fund type. That audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the basic financial statements of Orland Fire Protection District, Illinois, as a whole. The individual fund financial statements and schedules for the year ended December 31, 2013, are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the 2013 basic financial statements. The information has been subjected to the auditing procedures applied in the audit of those basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the 2013 individual fund financial statements and schedules are fairly stated in all material respects in relation to the basic financial statements from which they have been derived.

Orland Park, Illinois June 19,2015 Xl

MANAGEMENT'S

DISCUSSION

AND ANALYSIS

MANAGEMENT'S DISCUSSION AND ANALYSIS as of and for the fiscal year ended December 31, 2014

As management of Orland Fire Protection District (the District), we offer readers of the District's Comprehensive Annual Financial Report this narrative and analysis of the financial activities of the District for the fiscal year ended December 31, 2014.

Financial Highlights •

The assets of the District exceeded its Iiabi lities and deferred inflows of resources at the close of the most recent fiscal year by $25,808,524 (net position). Of this amount, $14,581,762 IS invested in capital assets and $1,962,414 is restricted; $9,264,348 remains unrestricted.

•

The total net position of the District increased by $735,048 during fiscal year 2014 due to increases in property tax revenue.

•

As of December 31, 2014, the District's governmental funds reported combined ending fund balances of $15,438,096.

Approximately 41 % of this amount ($6,271,207) is available for spending at the District's discretion (unassignedfund balance).

•

For the fiscal year ending December 31, 2014, total governmental funds expenditures and other financing uses exceeded revenues and other financing sources by $811,950.

•

At the end of the current fiscal year, unrestricted fund balance (the total of the committed. assigned and unassigned components of fund balance) for the general fund was $6,646,656, or approximately 35% of total general fund expenditures.

•

The District's long-term liabilities at December 31,2014 totaled $31,249,031. During the year ended December 31, 2014, the District entered into an installment contract for 2 new Pierce Impel Pumpers.

Overview of the Financial Statements This discussion and analysis are intended to serve as an introduction to the District's basic financial statements. These basic financial statements are comprised of three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to basic financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves.

Government-wide

Financial Statements.

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

The statement of net position presents information on all of the District's assets, liabilities and deferred inflows/outflows of resources, with the difference reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating.

xii

The statement of activities presents information showing how the government's net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g., uncollected taxes and earned, unused sick leave).

The government-wide

financial statements can be found on pages 1 - 2 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 District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. A II of the funds of the District can be categorized as one of two types: governmental fund or fiduciary fund.

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

Such information may be useful in evaluating a government's near-term financing requirements.

Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the 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 District maintains six individual governmental funds and subfunds. Information is presented separately for the major governmental funds in the Balance Sheet - Governmental Funds and in the Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds. The General Fund, Ambulance Fund and the Capital Projects Fund are considered major funds. There is one nonmajor governmental fund.

The District adopts an annual appropriated budget for its general fund. A budgetary comparison statement has been provided for the general fund to demonstrate compliance with the budget.

The basic fund financial statements can be found of pages 3 - 10 of th is report.

Fidtlcimy Fundi Fiduciary funds are used to account for resources held for the benefit of parties outside of the District. Fiduciary funds are not reflected in the government-wide financial statements because the resources of those funds are not available to support the District's own programs. The accounting used for fiduciary funds is on the full accrual basis.

The fiduciary funds utilized by the District are the Firefighters' Insurance Fund.

Pension Fund and the Retiree Health

The basic fiduciary fund financial statements can be found on pages 11 - 12 of this report.

xiii

Notes to Financial

Statements

The notes provide additional information that is necessary to acquire a full understanding of the data provided in the government-wide and fund financial statements. The notes to basic financial statements can be found on pages 13 - 39 of this report.

Other Information In addition to the basic financial statements and accompanying notes, this report also presents required supplementary information concerning the District's progress in funding its obligation to provide pension and OPEB benefits to its employees. This information is provided on pages 40 - 44 of the report.

The combining and individual fund financial statements and schedules in connection with the major, nonmajor governmental and fiduciary funds are presented immediately following the required supplemental information on pensions and OPEB. These statements and schedules can be found on pages 45 - 65 of this report.

Government-wide Financial Analysis Statement

of Net Position - Governmental

Activities

As noted earlier, net position may serve over time as a useful indicator of a government's financial position.

In the case of the District, assets exceeded liabilities and deferred inflows of resources by $25,808,524 at the close of the most recent fiscal year.

Statement

Orland Fire Protection District of Net Position - Governmental Activities as of December 31, 2014 and 2013 2013

2014 Assets: Current and other assets Capital assets Net pension & post employment benefit asset Total assets

$

43688763 17,927,819 23,739,198 85,355,780

$

44,575,019 17,009,010 22,654,719 84,238,748

Liabilities: Current liabilities Noncurrent liabilities Total liabilities

962,957 31,249,031 32,211,988

1,934,504 30,816,984 32,751,488

Deferred inflows of resources: Unavailable revenue

27,335,268

26,413,784

Net position: Net investment in capital assets Restricted Unrestricted Total net position

14,581,762 1,962414 9264,348 25,808"J

$

xiv

Assets Cash, investments, receivables and prepaid expenses are current assets. These assets are available to provide resources for the near-term operations of the District. The majority of the current assets are the results of the property tax collection process; the District received 97.01 % of the annual property tax assessment for 2013 in 2014. It is expected a similar collection rate will occur for 2014 taxes collected in 2015.

Capital assets are used in the operations of the District. These are land, improvements, buildings apparatus, vehicles and equipment. Capital assets are discussed in greater detail in the section titled, "Capital Assets and Debt Administration," elsewhere in this analysis.

A net pension and post-employment benefit asset, which is further explained on pages 24 - 31 of this report, was recorded in 2014 in the amount of$23,739,198.

Of this total, $22,722,557 is related to the Firefighters' Pension Fund and $1,016,641 is related to the Illinois Municipal Retirement Fund. In December 2012, the District deposited funds in the Firefighters' Pension Fund and the Illinois Municipal Retirement Fund to pay its actuarial unfunded liabilities to these funds through the issuance of debt certificates.

An investment of $17,927,819 in land, improvements, buildings, apparatus, vehicles and equipment, to provide the services to the District's residents, represents 21.0% of the District's total assets.

Liabilities Current and long-term obligations are classified based on anticipated payment date either in the near-term or in the future. Current obligations include accounts payable and accrued salaries and benefits. Long-term obligations, including the Series 2007 General Obligation Bonds and the Series 2012 General Obligation Debt Certificates and compensated absences payable, will be liquidated from resources that will become available after fiscal year 2015.

Deferred Inflows o[Resources Unearned revenue, in the form of assessed 2014 property taxes to be collected after fiscal year 2014, totaled $27,335,268 at year end.

Net Position The assets of the District exceed liabilities and deferred inflows of resources, resulting in a net position of $25,808,524. Of this amount, $9,264,348 is unrestricted. Total net position of the District does not include internal balances.

xv

Statement of Activities The following chart shows the revenue and expenses of the District's activities during 2014 and 2013.

Orland Fire Protection District Statement of Activities for the Years Ended December 31, 2014 and 2013

2013

2014 Revenues: Program revenues: Charges for services Operating/capital grants and contributions General revenues: Property taxes Personal property replacement taxes Investment income Other income

$

Total revenues Expenses: Governmental activities: Fire and rescue Emergency medical service General government Interest Total expenses Changes in Net Position Net position, beginning of year $

Net position, end of year

Governmental activities increased the District's net position contributing to this net change are summarized below.

3,380,124 78,912

$

3,318,231 84,944

27304,943 43 51 25432 166,290

26,170,143 53,633 42,090 185,746

30,999,052

29,854,787

14,474,684 11,756,488 2,805,863 1,226,969

14,125,007 11,371,042 2,732,841 1,229,493

30.264,004

29,458,383

735,048

396,404

25,073,476

24,677,072

258 by $735,048,

or 2.9%. Key elements

Revenue: For the year ending December 31, 2014, total revenue from governmental activities increased by $1,144,265, or 3.8%.

Total program revenues, which include charges for services as well as operating and capital grants, increased by $55,861, or 1.6%. Charges for services increased by $61,893, or 1.9%. The increase in charges for services is related to an increase in ambulance call volume.

General revenues, which includes property taxes, personal property replacement taxes, investment income, and other income increased by $1,088,404, or 4.1 %, due mostly to the increase in property taxes received.

xvi

Property taxes increased by $1,134,800, or 4.3%. increased by less than 1%.

The property tax extension (total property taxes billed)

Expen. es: Expenses from governmental activities increased by $805,621 (2.7%). Fire and rescue expenses and emergency medical service expenses combined increased by $735,123, or 2.9%. The increase was due mostly to additional contributions to the firefighters' pension fund.

General government expenses were $73,022 less than the prior year.

Financial

Analysis of the District's

Funds

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

The focus of the District's governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources.

Such information is useful in assessing the District's financing requirements.

In particular, unassigned fund balance may serve as a useful measure of a government's resources available for spending at the end of the fiscal year.

As of the end of the current fiscal year, the District's governmental funds reported combined ending fund balance of $15,438,096, a decrease of $811,950 compared to the prior year. Of the total, $177,149 is considered nonspendable because it has been used for prepaid items. Thirteen percent, or $1,962,414, of the total is restricted due to external limitations on its use. These uses include emergency rescue ($399,028), tort immunity ($1,468,287), and municipal retirement / social security ($95,099).

Forty-six percent, or $7,027,326, has been assigned, meaning there are limitations on its intended use. The assigned uses include general government ($22,764), tort immunity purposes ($152,275), emergency rescue purposes ($200,410), ambulance services ($3,958,635), capital projects ($2,671,936), and debt service ($21,306). The remaining forty-one percent, or $6,271,207, is unassigned.

The General Fund is the main operating fund of the District. At the end of the current fiscal year, unassigned fund balance of the General Fund was $6,271,207, while total fund balance of the General Fund was $8,761,514. As a measure of the General Fund's liquidity, it may be useful to compare the unassigned fund balance and total fund balance to total fund expenditures. Total general fund expenditures for 2014 were $18,996,369. Unassigned fund balance represents 33 percent of these General Fund expenditures, while total fund balance represents 46 percent of that same amount.

xvii

Orland Fire Protection District General Fund Budgetary Highlights For the Fiscal Year Ending December 31,2014 Variance with Budget

Budget

Actual

$ 18,370,446 335,338 126,555 18,832,339

$ 18,934,177 368,631 225,933 19,528,741

14,939,211 954,999 1,461,929 357,170 1,500,960 19,214,269

14,749,830 802,799 1,547,151 295,943 1,500,960 18,896,683

Excess (deficiency) of Revenue over (under) Expenditures

(381 ,930)

632,058

1,013,988

Other Financing Sources Transfers out

(500,000)

(600,000)

(100,000)

Revenues Property taxes Charges for services Other Total Expenditures and Encumbrances Personnel Commodities Contractual Other Debt service Total

Net Change in Fund Balance

$

Percentage of Actual to Budget

563,731 33,293 99,378 696,402

103.1 % 109.9% 178.5% 103.7%

189,381 152,200 (85,222) 61,227

98.7% 84.1% 105.8% 83.9%

317,586

98.3%

32,058

$

General Fund revenues in the amount of $19,528,741 were 3.7% over anticipated revenues. Property taxes were 3.1 % more than expected. Due to property tax receipts in the General Fund, the District abated property taxes in the Debt Service Fund and transferred funds to the Debt Service Fund to pay costs of the Series 2007 Bonds. Charges for services were 9.9% higher than anticipated.

The District amended the 2014 budget to adjust expenditure/ revenue classifications and interfund transfers.

General Fund expenditures in the amount of $18,896,683 were l. 7% less than budgeted.

Capital Assets The District's investment in capital assets for its governmental activities as of December 31,2014 amounts to $17,927,819. The District's investment in capital assets increased by $918,809, due to capital asset additions that exceeded depreciation expense for the year. This investment in capital assets included land, buildings and improvements, apparatus, vehicles, and equipment.

xviii

Orland Fire Protection District Capital Assets (net of accumulated depreciation) December 31, 2014 and 2013 2013

2014 $

Land Buildings and improvements Apparatus and vehicles Equipment

410,330 12,287,434 4,932,984 297,071

$

4103"0 12.002,695 4 160,744 435.241

s

Total capital assets

Major capital asset events during the current fiscal year included an installment contract for 2 new Pierce Impel pumpers Additional information on the District's capital assets can be found in the notes to financial statements, see pages 24-25.

Long-term Liabilities The District has an outstanding general obligation bond of $2,275,000 at the end of the current fiscal year.

The District retained its Aal rating from Moody's Investors Service for general obligation bond issues.

In December, 2012, the District issued taxable debt certificates in the amount of $26,715,000 to pay its actuarial unfunded liability of its pension funds. The District received an Aa2 rating from Moody's Investors Service for this specific issue. The District has outstanding general obligation debt certificates of $25,850,000 at the end of the current fiscal year.

Annual debt service payments were made as scheduled for the general obligation bond held by the District.

No refinancing of debt occurred during 2014.

Orland Fire Protection District Long-term Liabilities December 31, 2014 and 2013 2013

2014 $

Bonds payable Debt certificates Installment contract Compensated absences Other post-employment benefits obligation

2,295,233 25,570,450 1,050,824 1,375,330 957,194

$

3,289,091 26,000,737 1,527,156

Total long-term liabilities Additional information on the District's long-term liabilities can be found in the notes to financial statements, see pages 35 - 38.

xix

Economic Factors and Next Year's Budget and Rates The District's primary revenue source is property taxes, representing approximately 85.8% of total revenue.

The Property Tax Extension Limitation Law allows a taxing district to receive a limited inflationary increase in tax extensions on existing property, plus an additional amount for new construction, and voter-approved rate increases.

Budgeted revenue for 2015 is $31,931,474. Property taxes are assumed to increase for existing property by the Consumer Price Index and for new construction property. The District abated a portion of its non-capped property tax levies for tax year 2014. Other sources of budgeted revenue include fees for ambulance service, fees for dispatch services provided to other fire departments, and other miscellaneous sources.

Budgeted expenditures for 2015 are $31,434,796. Expenditures include salaries and benefits to maintain staffing levels, facility expenses to operate and maintain existing buildings, maintenance expenses to maintain existing apparatus, debt payments, and other miscellaneous expenditures.

The 2015 budget includes maintaining staffing levels reduced by attrition, improving information technology and communications, replacing vehicles, and the purchasing of other specialized equipment.

Requests for Information This financial report is designed to provide a general overview of the District's finances for all those with an interest in the District. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to: Office of the Finance Director Orland Fire Protection District 9790 West 151st Street Orland Park, IIIinois 60462

xx

BASIC FINANCIAL

STATEMENTS

GOVERNMENT-WIDE

FINANCIAL

STATEMENTS

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS STATEMENT OF NET POSITIONGOVERNMENT AL ACTIVITIES DECEMBER 31, 2014

ASSETS Cash and investments Receivables, net of allowance for uncollectibles: Property taxes Accounts Due from fiduciary trust fund Prepaid items Net pension benefit asset Capital assets not being depreciated: Land Capital assets, net of accumulated depreciation: Buildings and improvements Apparatus and vehicles Equipment

$

14,480,704 27,428,578 1,579,664 22,668 177,149 23,739,198 410,330 12,287,434 4,932,984 297,071 85,355,780

Total assets

LIABILITIES 962,957

Accounts payable and other current liabilities Noncurrent liabilities: Due within one year Due in more than one year

1,963,305 29,285,726 32,2]]'988

Total liabilities

DEFERRED

INFLOWS OF RESOURCES 27,335,268

Unearned revenue - property taxes

NET POSITION 14,581,762

Net investment in capital assets Restricted for: Tort immunity Emergency rescue Other purposes Unrestricted Total net position

See notes to basic financial statements.

1,468,287 399,019 95,108 9,264,348 $

25,808.524

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS STATEMENT OF ACTIVITIES YEAR ENDED DECEMBER 31,2014

Expense Functions/programs: Governmental activities: Fire and rescue Emergency medical service General government Interest expense Total governmental activities

Program Revenues Operating Grants and Charges for Contributions Service

Net (Expense) Revenue and Change in Net Position

$

14,474,684 11,756,488 2,805,863 1,226,969

$

406,948 2,795,513 177,663

$

78,912

$ (13,988,824) (8,960,975) (2,628,200) ( 1,226,969)

$

30,264,004

$

3,380,124

$

78,9] 2

(26,804,968)

General revenues: Taxes: Property Personal property replacement Investment income Other income

27,304943 43,351 25432 166,290 27,540,0]6

Total general revenues

735,048

Change in net position

25,073.476

Net position at beginning of year $

Net position at end of year

See notes to basic financial statements.

2

25,808,524

FUND FINANCIAL

STATEMENTS

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS BALANCESHEET-GOVERNMENTALFUNDS DECEMBER 31, 2014

Ambulance

General

Nonmajor Fund

Capital Projects

Total Governmental Funds

ASSETS

$

Cash and investments Receivables: Property taxes Accounts Due from other funds Due from fiduciary trust fund Prepaid items

$

Total assets

$

31.382.688

$

$

356,345 286,229 3.056,717

$

10,004,378

$

4,476,326

8,413,385 1,161,871 3,035,411

19,015,193 417,793 1,745,507 22,668 177.149

12,610,667

$

$

27,428,578 1,579,664 4,802,224 22,668 177,149

21,306

s

4,476.326

$

$

58,883

$

14,480,704

$

48.490,987

$

1.745.507

415,228 500,171 4,802,224

1,804,390

5.717.623

21,306

LIABILITIES Accounts payable Accrued expenditures Due to other funds Total liabilities

DEFERRED

INFLOWS

213,942

3.699.291

213.942

1&,921,883

8,413,385

27,335,268

177,149 1,937,709 375,449 6,271,207

24,705 3,958,635

2,671,936

21,306

177,149 1,962,414 7,027,326 6.271,207

8,761.514

3,983,340

2,671.936

21.306

15,438,096

21,306

s 48,490,987

OF RESOURCES

Unearned revenue - property taxes

FUND BALANCES NonspendabJe Restricted Assigned Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances

$

31.382.688

$

See notes to basic financial statements.

3

12,610,667

$

4,476.326

$

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS RECONCILIA TION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION DECEMBER 31,2014

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

Total fund balances - governmental funds Capital assets used in governmental activities are not financial resources and, therefore, are not reported as assets in governmental funds.

15,438,096

17,927,819

Long-term liabilities, including bonds payable, are not due and payable in the current year and, therefore, are not reported as liabilities in the funds. Also, governmental funds report the effect of premiums, discounts and similar items when the debt is first issued, whereas these amounts are deferred and amortized in the statement of activities. Long-term liabilities and related accounts at year-end consist of: $

General obligation bonds General obligation debt certificates Installment contract Unamortized amounts: Issuance discount Issuance premium Compensated absences Other post-employment benefits obligation

(2,275,000) (25,850,000) (1,050,824) 279,550 (20,233) (1,375,330) (957.194) (31,249,031)

Total Accrued interest payable was recognized for governmental activities, but is not due and payable in the current period and therefore is not reported as a liability in the governmental funds.

(47,558)

Contributions made in excess of the net pension benefit obligation are not reported as an asset in the governmental funds.

23,739,198 $

Net position of governmental activities

See notes to basic financial statements.

4

25.808,524

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS YEAR ENDED DECEMBER 31, 2014

Ambulance

General Revenues: Property taxes Charges for service Grant proceeds Investment income Personal property replacement taxes Other

$

Total revenues Expenditures: Current: Fire and rescue Emergency medical service General government Debt service: Principal Interest Capital outlay: Fire and rescue Emergency medical service

8,370,766 3,011,493

$

Total Governmental Funds

$ 27,304,943

$

$

14,137 26,207 39.704

4,500

3,380,124 77,662 25,432 43,351 167,540

19,528,741

11,462,307

8.004

30,999,052

9,050,834 6,802,594 1,641,981

5,005,515 4,634,056 1,046,467

3,504

14,056,349 11,436,650 2,688,448 1,534,998 1,222,763

985,000 130,400

104,998 36,403

445,000 1,055,960

1,495,611 532,005

1,495,611 532,005

Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources (uses): Installment contract Transfers in Transfers out

18,996,369

10.686,038

2,169,017

1.115,400

32,966,824

532,372

776,269

(2,161,013)

(1,115,400)

(1,967,772)

1,125,000

1,155,822 1,125,000 (1.125,000)

1.125,000

1,155,822

1,155,822

Total other financing sources (uses) Net change in fund balances Fund balances at beginning of year Fund balances at end of year

18,934,177 368,631 77,662 7,791 17,144 123,336

Nonmajor Fund

Capital Projects

$

(600,000)

(525,000)

(600,000)

(525,000)

1.155,822

(67,628)

251,269

(1,005 191)

9,600

(811,950)

8,829,142

3,732,071

3.677.127

11,706

16,250,046

8.761,514

$

3,983,340

See notes to basic financial statements.

5

$

2,671.936

$

21.306

$

15,438,096

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES YEAR ENDED DECEMBER 31,2014

Amounts reported for governmental

activities in the statement of activities are different because:

Net change in fund balances - total governmental

$

funds

1,377,021

An increase in the net pension benefit asset increases assets in the statement of net position.

Governmental funds report capital outlays as expenditures. However in the statement of activities, the cost of these assets is allocated over their estimated useful lives and reported as depreciation expense. This is the amount by which capitalized capital outlays ($1,973,644) exceeded depreciation ($1,054,835) in the current period.

The installment contract payable provides current financial resources to the governmental but issuing debt increases long-term liabilities in the statement of net position.

Repayment of long-term debt principal is an expenditure in the governmental repayment reduces long-term liabilities in the statement of net position.

(811,950)

918,809

funds, (1,155,822)

funds, but the 1,534,998

Governmental funds report the effect of premiums, discounts and similar items when the debt is first issued, whereas these amounts are deferred and amortized in the statement of activities. The net effect of these differences in the treatment of long-term debt and related items is summarized as follows: Amortization Amortization

$

of issuance premium of issuance discount

8,858 (14.713) (5,855)

Total Interest on long-term debt in the statement of activities differs from the amount reported in the governmental funds because interest is recognized as an expenditure in the funds when it is due, and thus requires the use of current financial resources. In the statement of activities, however, interest expense is recognized as the interest accrues, regardless of when it is due. The decrease in the accrued interest balance from the previous year results in a decrease in interest expense reported in the statement of activities.

1,653

Long-term compensated absences do not require the use of current financial resources. Therefore, the increase in compensated absences payable is not reported in the governmental funds.

151,826

An increase in the other post-employment statement of net position.

benefits obligation increases long-term liabilities in the (1,249,736)

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

Change in net position of governmental

(25.896) $

activities

See notes to basic financial statements.

6

735.048

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS STATEMENT OF REVENUES, EXPENDITURES, ENCUMBRANCES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL GENERAL FUND AND MAJOR SPECIAL REVENUE FUND YEAR ENDED DECEMBER 31, 2014

General Fund Final Actual Budget

Original Budget Revenues: Property taxes Charges for service Grant proceeds Investment income Personal property replacement taxes Other Total revenues Expenditures and encumbrances: Current: Personnel: Compensation and salaries Payroll taxes Education and seminars Health and life insurance Pension contribution Commodities: Heat, light and power Operational supplies Postage and printing Protective clothing Repairs and maintenance Telephone Vehicle maintenance Contractual: Billing services Insurance Professional services Other Debt service: Principal Interest Total expenditures and encumbrances

$

Variance with Final Budget

$

563,731 33,293 77,662 (11,173) 4,817 28,072

18,964 12327 95,264

18,964 12,327 95.264

18,934,177 368,631 77,662 7,791 17,144 123,336

18,832.339

18,832.339

19,528,741

696,402

9,471,517 186,381 92,825 1,825,822 2,897,199

9,671,046 195,710 92,825 1,589,087 3,390,543

9,694,664 203,858 37,832 1,427,142 3,386,334

(23,618) (8,148) 54,993 161,945 4,209

68,178 270,420 7,330 99,415 237,363 24,124 46,800

68,178 372,412 7,330 136,078 295,077 24,124 51,800

47,754 303,916 2,648 110,336 264,144 22,638 51,363

20,424 68,496 4,682 25,742 30,933 1,486 437

929,100 466,688 94,435

929,100 532,829 357,170

1,027,019 520,132 295,943

(97,919) 12,697 61,227

445,000 1,055,960

445,000 1,055,960

445,000 1,055,960

18,218,557

19,214,269

18.896,683

18,370,446 335,338

See notes to basic financial statements.

7

$

18,370,446 335,338

$

317,586

Page lof2

Ambuhlllce Fund Final Actual Budget

Original Budget

$

8,032,806 2,597,310

$

8,032,806 2,597,310

$

8,370,766 3,011,493

Variance with Final Budget

$

337,960 414,183

30,226 22,367 35,766

30,226 22,367 35,766

14,137 26,207 39,704

(16,089) 3,840 3.938

[0,718.475

10,718.475

ll.462,307

743,832

7,261,315 204,023 34,856 1,481,822

7,587,179 229,023 34,856 1,481,822

7,463,047 245,140 21,682 1,332,803

124,132 (16,117) 13,174 149,019

102,321 167,172 13,299 75,485 248,811 36,876 70,200

102,321 287,586 13,299 107,958 438,381 36,876 70,200

77,778 288,947 4,805 88,246 354,653 34,603 77,043

24,543 (1,361) 8,494 19,712 83,728 2,273 (6,843)

120,000

120,000

144,013

(24,013)

242,875 225,565

242,875 225,565

284,758 266,055

(41,883) (40,490)

10,284,620

10,977,941

10,683,573

294,368

8

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS STATEMENT OF REVENUES, EXPENDITURES, ENCUMBRANCES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL GENERAL FUND AND MAJOR SPECIAL REVENUE FUND YEAR ENDED DECEMBER 31, 2014

General Fund Final Actual Budget

Original Budget Excess (deficiency) of revenues over expenditures and encumbrances

Variance with Final Budget

613,782

(381,930)

632,058

1,013,988

(1,115.400)

(500,000)

(600,000)

( 100,000)

Net change in fund balances

(501,618)

(881 930)

32,058

913,988

Fund balances at beginning of year (Non-GAAP budgetary basis)

8,696.l5S

8,696,158

8,696,158

Fund balances at end of year (Non-GAAP budgetary basis)

8,194,540

7,814,228

8,728,216

913,988

33,298

33,298

Other financing uses: Transfers out

Adjustment to generally accepted accounting principles: Current year encumbrances included in expenditures Fund balances at end of year (GAAP basis)

$

8,194.540

See notes to basic financial statements.

9

$

7,814,228

$

8,761,514-

$

947,286

Page 2 of2

Ambulance Final Budget

Original Budget

(259,466)

433,855

$

Fund Actual

Variance with Final Budget

778,734

1,038,200

(525.000)

(525.000) 513,200

433,855

(259,466)

253,734

3,707,840

3.707,840

3.707.840

4,141,695

3,448,374

3,961,574

513,200

21.766

21.766

4,141.695

$

3,448.374

$

3,983,340

;l:$===53=4=,9=6:=,6

10

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS STATEMENT OF FIDUCIARY NET POSITION FIDUCIARY FUNDS DECEMBER 31,2014

Retiree Health Insurance

Firefighters' P nsion ASSETS $

Cash Accrued interest receivable Investments: Debt issues: Corporate Foreign Municipal Equities Insurance contracts Mutual funds U.S. government agency notes U.S. Treasury notes Prepaid items

3,088,458 283,226

$

503,212

13,221,089 2,760,473 739,793 8,239,762 10,478,256 65,115,256 2,153,914 23,966,847 14,283

7,645,084 352,497

8.563.418

1.30,06] ,357

Total assets

62,625

LIABILITIES 41,728 22,668

Accounts payable Due to other funds

64,396

Total liabilities

NET POSITION Net position restricted for: Pensions Other post-employment benefits

$ 129,996,961 $

See notes to basic financial statements.

11

8,563.418

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS STATEMENT OF CHANGES IN FIDUCIARY NET POSITION FIDUCIARY FUNDS YEAR ENDED DECEMBER 31,2014

Retiree Health Insurance

Firefighters' Pension Additions: Contributions: Employer Plan members Other

$

3,386,334 1,214,057 50

$

Total contributions

4,600.441

Investment income Less investment expense

7,812,933 (241,839)

88, 61 (32.275)

~etinvestmentincome

7,571,094

56,086

Total additions

12,171,535

56.086

Deductions: Benefit payments Administrative expenses

2,571,284 98,752

213,936

Total deductions

2,670,036

213,936

Increase (decrease) in net position

9,501,499

(157,850)

Net position at beginning of year

120.495,462

8.721.268

$

Net position at end of year

See notes to basic financial statements.

12

129.996,961

$

8,563,418

NOTES TO BASIC FINANCIAL

STATEMENTS

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2014

I.

SUMMARY OF SIGNIFICANT

ACCOUNTING

POLICIES

A.

Description of Government-wide

Financial Statements

The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the nonfiduciary activities of Orland Fire Protection District, lIIinois (the "District"). All fiduciary activities are reported only in the fund financial statements. Governmental activities, which normally are supported by taxes, intergovernmental revenues, and other nonexchange transactions, are reported separately from business-type activities, which rely to a significant extent on fees and charges to external customers for support. The District does not engage in any business-type activities.

B.

Reporting Entity

The District provides fire, rescue, emergency medical services and general administrative services. The accompanying financial statements present the District and its component units, entities for which the government is considered to be financially accountable. Fiduciary-type component units are, in substance, part of the District's operations, even though they are legally separate entities. Thus, fiduciary-type component units are appropriately presented as funds of the District.

Fiduciary-type component units. The District's fiduciary-type component units consist of the Orland Fire Protection District Firefighters' Pension Fund ("FPF") and the Retiree Health Insurance Plan ("RHIP").

The District's sworn firefighters participate in the FPF. FPF functions for the benefit of these employees and is governed by a pension board. The District and the FPF participants are obligated to fund all FPF costs based upon actuarial valuations. The state of Illinois is authorized to establish benefit levels and the District is authorized to approve the actuarial assumptions used in the determination of the contribution levels. Although it is legally separate from the District, the FPF is reported as if it were part of the primary government because its sole purpose is to provide retirement benefits for the District's sworn firefighters.

The FPF is reported as a pension trust fund.

The District's sworn firefighters also participate in the RHIP, which provides health insurance coverage for retired employees and their spouse and dependents until they reach age 65. The District funds RHIP costs based upon actuarial valuations. The RHIP is reported as if it were part of the primary government because its sole purpose is to provide health insurance benefits for the District's sworn firefighters. The RHIP is reported as a trust fund.

C.

Basis of Presentation

- Government-wide

Financial Statements

While separate government-wide and fund financial statements are presented, they are interrelated. The governmental activities incorporate data from governmental funds. Separate financial statements are provided for governmental funds and fiduciary funds, even though the latter are excluded from the government-wide financial statements.

As general rule, the effect of interfund activity has been eliminated from the government-wide statements.

13

financial

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2014

D.

Basis of Presentation

- Fund Financial

Statements

The fund financial statements provide information about the District's funds, including its fiduciary-type component units. Separate statements for each fund category - governmental and fiduciary - are presented.

The emphasis of fund financial statements is on major governmental funds. Major individual governmental funds are reported as separate columns in the fund financial statements. The remaining governmental fund is reported as a nonmajor fund.

The District reports the following major governmental funds: The General Fund is the District's primary operating fund. It is comprised of three subfunds: the Corporate Fund, the Tort Liability Fund, and the Emergency Rescue Fund. The Corporate Fund accounts for the direct costs of fire suppression and an allocation of administration costs. The Tort Liability Fund accounts for all costs of insurance and risk management. The Emergency Rescue Fund is used to account for expenditures funded through property taxes levied for rescue purposes.

The Ambulance Fund accounts for the direct costs of emergency medical services and an allocation of administration costs funded by a tax levy restricted for that purpose and charges for services.

The Capital Projects Fund accounts for financial resources construction of capital improvements.

accumulated

for the acquisition

or

The District reports the following nonmajor governmental fund: The Debt Service Fund accounts for the repayment of the District's bonded debt.

Additionally, the District reports the following fiduciary funds: The Firefighters' Pension Fund accumulates resources for the benefit of the members of the pension fund.

The Retiree Health Insurance Fund accumulates District's retirees.

resources for health insurance benefits for the

During the course of operations the District has activity between funds for various purposes. Any residual balances outstanding at year end are reported as due from/to other funds and advances to/from other funds.

While these balances are reported in fund financial statements, certain eliminations are made in the preparation of the government-wide financial statements. Balances between the funds included in governmental activities (i.e., the governmental funds) are eliminated.

Further, certain activity occurs during the year involving transfers of resources between funds. In fund financial statements these amounts are reported at gross amounts as transfers in/out. While reported in fund financial statements, certain eliminations are made in the preparation of the government-wide financial statements. Transfers between the funds included in governmental activities are eliminated.

14

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2014

E.

Measurement

Focus and Basis of Accounting

The accounting and financial reporting treatment is determined by the applicable measurement focus and basis of accounting. Measurement focus indicates the type of resources being measured such as current financial resources or economic resources. The basis of accounting indicates the timing of transactions or events for recognition in the financial statements.

The government-wide financial statements are reported using the economic resources measurement jocus and the accrual basis oj accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.

The governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis oj accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the District considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Additionally, property taxes are recognized on the current year's levy in conjunction with the amount budgeted by the Board of Trustees for the current year with the unrecognized amount being recorded as unavailable revenue. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences, and claims and judgments, are recorded only when payment is due. General capital asset acquisitions are reported as expenditures in governmental funds. Issuance of long-term debt and acquisitions under capital leases are reported as other financing sources.

Property taxes, charges for services, and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period.

Entitlements are recorded as revenues when all eligibility requirements are met, including any time requirements, and the amount is received during the period or within the availability period for this revenue source (within 60 days of year end). Expenditure-driven grants are recognized as revenue when the qualifying expenditures have been incurred and all other eligibility requirements have been met, and the amount is received during the period or within the availability period for this revenue source (within 60 days of year end). All other revenue items are considered to be measurable and available only when cash is received by the District.

The pension and other post-employment benefit trust funds are reported using the economic resources measurementjocus and the accrual basis oj accounting.

F.

Budgetary

Information

Annual budgets are adopted on a basis consistent with accounting principles generally accepted in the United States of America, except that in certain governmental fund encumbrances are recorded as the equivalent of expenditures for budgetary basis purposes. Encumbrances are recorded in the Corporate, Tort Liability, Emergency Rescue, Ambulance, and Capital Projects funds.

15

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2014

The District statements:

follows these procedures

In

establ ishing the budgetary

data reflected

In

the financial

1. The Chief submits to the District Board of Trustees a proposed operating budget for the fiscal year.

The operating budget includes proposed expenditures and the means of financing them for the general, special revenue, debt service, and capital projects funds.

2. Public hearings are conducted by the District to obtain taxpayer comments.

3. The budget is legally enacted through passage of an ordinance. The budget for the year ended December 31, 2014 was adopted through the passage of ordinance number 2013-04 on November 19,2013, and was subsequently amended through the passage of ordinance number 2015-02 on May 26,2015.

4. With authorization from the Chief, the Finance Director is allowed to transfer appropriated amounts between line items within funds.

5. The level of control (level at which expenditures may not exceed budget/appropriations) item of appropriation. Appropriations lapse at the end of the fiscal year.

is the line

6. Budgeted expenditures represent working budget amounts. The appropriation as adopted for each fund is as follows: General Fund: Corporate Subfund Tort Liability Subfund Emergency Rescue Subfund Ambulance Fund Capital Projects Fund Debt Service Fund

$

18,419,296 3,188,659 1,793,959 11,339,489 1,650,000 1,282,710

Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of monies are recorded in order to reserve that portion of the applicable appropriation, is employed by the District. Outstanding encumbrances at the end of the year are reported in fund balance as restricted, committed or assigned and do not constitute expenditures or liabilities because the commitments will be reappropriated and honored during the subsequent year. Encumbrances outstanding at December 31,2014 totaled $645,300.

16

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2014

The following funds had an excess of actual expenditures/encumbrances for the year ended December 31, 2014:

General subfund: Tort Liability Fund Capital Projects Fund

$

2,934,338 1,608,000

Variance

Actual

Budget

Fund

over the working budget amount

$

2,957,525 2,527,043

$

23,187 919,043

The overexpenditure in the Tort Liability Fund was funded by greater than anticipated revenues. The overexpenditure in the Capital Projects Fund was funded by other financing sources and available fund balance.

G.

Assets, Liabilities,

Deferred

1.

Cash and Cash Equivalents

Outflowsllnflows

of Resources,

and Net Position/Fund

Balance

The District's cash and cash equivalents are considered to be cash on hand, demand deposits and short-term investments with original maturities of three months or less from the date of acquisition.

2.

Investments

Investments are reported at fair value, generally based on quoted market prices. Short-term investments are reported at cost, which approximates fair value.

3.

Prepaid Items

Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both the government-wide and fund financial statements. The cost of prepaid items is recorded as expenses/expenditures when consumed rather than when purchased.

4.

Capital Assets

Capital assets, which include land, buildings, apparatus, vehicles, and equipment, reported in the government-wide financial statements are defined by the District as assets with an initial, individual cost of more than $10,000 (amount not rounded) and an estimated useful life in excess of one year. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at estimated fair value at the date of donation.

The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend the asset's life are not capitalized.

Major outlays for capital assets and improvements are capitalized as projects are constructed.

17

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2014

Buildings, apparatus, vehicles, and equipment are depreciated following estimated useful lives:

using the straight-line

method over the

Years Buildings and improvements Apparatus Vehicles Equipment 5.

Deferred Outflows/Inflows

50 10-20 5 10

of Resources

In addition to assets, the statement of net position and/or balance sheet will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period and so will not be recognized as an outflow of resources (expense/expenditure) until then.

In addition to liabilities, the statement of net position and/or balance sheet will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period and so will not be recognized as an inflow of resources (revenue) until that time. The District has only one type of item that qualifies for reporting in this category. Accordingly, the item, unearned/unavailable revenue, is reported in the government-wide statement of net position and governmental funds balance sheet. The District reports unearned/unavailable revenues from one source - property taxes. These amounts are deferred and recognized as an inflow of resources in the period that the amounts are earned or become available.

6.

Long-term Obligations

In the government-wide financial statements, long-term debt and other long-term obligations are reported as liabilities in the statement of net position. Bond premiums and discounts, as well as gains (losses) on refundings, are deferred and amortized over the life of the bonds. Bonds payable are reported net of the applicable bond premium or discount. Gains (losses) on refundings are reported as deferred inflows (outflows) of resources. Bond issuance costs, whether or not withheld from the actual debt proceeds received, are reported as expenses.

In the fund financial statements, governmental fund types recognize bond premiums and discounts during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

18

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2014

7.

Net Position Flow Assumption

Sometimes the District will fund outlays for a particular purpose from both restricted (e.g., restricted bond or grant proceeds) and unrestricted resources. In order to calculate the amounts to report as restricted - net position and unrestricted - net position in the government-wide financial statements, a flow assumption must be made about the order in which the resources are considered to be applied.

It is the District's policy to consider restricted - net position to have been depleted before unrestricted net position is applied.

8.

Fund Balance Flow Assumptions

Sometimes the District will fund outlays for a particular purpose from both restricted and unrestricted resources (the total of committed, assigned, and unassigned fund balance). In order to calculate the amounts to report as restricted, committed, assigned, and unassigned fund balance in the governmental fund financial statements a flow assumption must be made about the order in which the resources are considered to be applied. It is the District's policy to consider restricted fund balance to have been depleted before using any of the components of unrestricted fund balance. Further, when the components of unrestricted fund balance can be used for the same purpose, committed fund balance is depleted first, followed by assigned fund balance. Unassigned fund balance is applied last.

9.

Fund Balance Policies

Fund balance of governmental funds is reported in various categories based on the nature of any limitations requiring the use of resources for specific purposes. The District itself can establish limitations on the use of resources through either a commitment (committed fund balance) or an assignment (assigned fund balance).

The committed fund balance classification includes amounts that can be used only for the specific purposes determined by a formal action of the District's highest level of decision-making authority. The Board of Trustees is the highest level of decision-making authority for the District that can, by adoption of an ordinance prior to the end of the fiscal year, commit fund balance. Once adopted, the limitation imposed by the ordinance remains in place until a similar action is taken (the adoption of another ordinance) to remove or revise the limitation.

Amounts in the assigned fund balance classification are intended to be used by the District for specific purposes but do not meet the criteria to be classified as committed. The Board of Trustees may by resolution authorize an individual or body to assign fund balance. The Board of Trustees has not adopted such a resolution. The Board of Trustees may also assign fund balance as it does when appropriating fund balance to cover a gap between estimated revenue and appropriations in the subsequent year's appropriated budget. Unlike commitments, assignments generally only exist temporarily. In other words, an additional action does not normally have to be taken for the removal of an assignment. Conversely, as discussed above, an additional action is essential to either remove or revise a commitment.

19

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2014

H.

Revenues and Expenditures!Expenses

1.

Program Revenues

Amounts reported as program revenues include 1) charges to customers or appl icants 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. All taxes, including those dedicated ~ r specific purposes, and other internally dedicated resources are reported as general revenues rather than as program revenues.

2.

Property Taxes

Property taxes are levied as of January 1 on pT perty values assessed on the same date. The tax levy is divided into two billings: the first billing (mailed on or about February 1) is an estimate of the current year's levy based on the prior year's taxes; the second billing (mailed on or about August 1) reflects adjustments to the current yea.r's actual levy. The billings are conside ed past due 30 days after the respective billing date at which time the applicable property is subject to lien and penalties and interest are assessed. he District receives significant distributions of property ta receipts approximately one month after the due dates.

3.

Compensated Absences

It is the District's policy to permit employees to accumulate earned but unused sick pay benefits. The liability for sick pay is reported as incurred in the government-wide financial statements. A liability for those amounts is recorded in the governmental funds only if the liability has matured as a result of employee resignations or retirements.

I.

Estimates

Management uses estimates and assumptions in preparing financial statements. Those estimates and assumptions affect the reported amount of assets and liabilities, the disclosure of contingent a sets and liabilities, and the reported revenues and expenses/expenditures.

Actual results could differ from those estimates.

J.

Comparative

Data

Comparative data for the prior year have been presented in the combining and individual fund financial statements and schedules in order to provide an understanding of the changes in the financial position and operations of the various funds of the District.

20

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2014

II.

DETAILED NOTES ON ALL ACTIVITIES

A.

Deposits and Investments

AND FUNDS

Deposits Custodial credit risk for deposits is the risk that, in the event of a bank failure, the deposits of the District, the Firefighters' Pension Fund, and the Retiree Health Insurance Fund might not be recovered. The investment policies of the District and the Retiree Health Insurance Fund require the amount of collateral provided to be at a minimum of 110% of the net amount of deposits. The Firefighters' Pension Fund does not have a deposit policy for custodial credit risk. As of December 31,2014, $13,828,879 of the District's bank balances of $17,759,854 was uninsured and collateralized with securities held by the pledging financial institutions. As of December 31, 2014, the bank balances of the Firefighters' Pension Fund and the Retiree Health Insurance Fund were fully insured.

Investments As of December 31, 2014, the Firefighters' Pension Fund and the Retiree Health Insurance Fund had the following investments:

Fair Value

Type ofJnvestment Firefighters' Pension Fund: Debt issues: Corporate Foreign Municipal Equities Insurance contracts Mutual funds u.s. government agency notes u.s. Treasury notes Total Retiree Health Insurance Fund: Debt issues: Corporate Mutual funds u.s. government agency notes Total

$

13,221,089 2,760,473 739,793 8,239,762 10,478,256 65,115,256 2,153,914 23,966,847

$

126,675,390

$

503,212 7,645,084 352,497

$

8,500,793

21

Average Credit Quality Ratings (l)

AAA -BBBAA- -BBBAAA-A+ N/A N/A N/A AA+ N/A

AA+ -BBBN/A AA+

Weighted Average Years to Maturity (2)

5.02 3.83 15.37

N/A N/A N/A 9.95 3.25

8.17

N/A 6.12

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2014

(1) Ratings are provided where applicable to indicate associated Credit Risk. N/A indicates not applicable.

(2) Interest Rate Risk is estimated using weighted average years to maturity.

Investment

Policies

District The District's investments are subject to the following risks: Interest rate risk is the risk that changes in interest rates will adversely affect the fair value of an investment. In accordance with its investment policy, the District manages its exposure to declines in fair value by diversification of investments and maturities.

Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its obligations. The District's investment program is derived from the terms and provisions of the Illinois Compiled Statutes Public Funds Investment Act (30 ILCS 235) which allow investment in instruments of the United States of America or its agencies, money market mutual funds with a minimum AA rating by at least two of the three largest credit rating agencies, public treasurer's investment pool and commercial paper with one of the three highest classifications by at least two of the three standard credit rating agencies. Commercial paper cannot exceed 180 days in maturity, 10% of the total outstanding paper of the issuing corporation or one-third of the cost of the portfolio.

Concentration of credit risk is the risk of loss attributed to the magnitude of the District's investment in a single issuer. The District, with the exception of U.S. Treasury securities and authorized pools, provides that no more than 50% of the District's portfolio will be invested in a single security type or in a single financial institution.

Custodial credit risk is the risk that, in the event of the failure of the counterparty, the District will not be able to recover the value of the investments or collateral securities that are in the possession of an outside party. The District's investment policy requires the amount of collateral provided to be at a minimum of 110% of the fair value ofthe principal and accrued interest.

Firefighters' Pension Fund and Retiree Health Insurance Fund The Firefighters' Pension Fund and Retiree Health Insurance Fund's investments are subject to the same risks as noted above and are addressed in the investment policies as follows: Interest rate risk - an investment time horizon of average duration which is not to vary more than +130% of the duration of the Lehman Brothers Intermediate Government Bond Index, thereby allowing the fund to tolerate moderate interim fluctuations in market value and rates in order to achieve its long-term objectives.

22

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2014

Credit risk - the investment programs of the Firefighters' Pension Fund and the Retiree Health Insurance Fund are derived from the terms and provisions of the Illinois Compiled Statutes Public Funds Investment Act (40 ILCS 511-113) which allow investment in instruments of the United States of America or its agencies, savings accounts, certificates of deposit, public treasurer's pool, interest bearing bonds of any county, township or municipal corporation, mutual funds, certain short-term obligations of U.S. corporations, common stocks and general or separate accounts of life insurance companies authorized to transact business in Illinois.

Concentration of credit risk - total investments in authorized items of the Firefighters' Pension Fund and Retiree Health Insurance Fund are not allowed to exceed 10% of the portfolio's overall allocation in one single security.

Custodial credit risk - the investment policy of the Retiree Health Insurance Fund requires the amount of collateral provided to be at a minimum of 110% of investments. The investment policy of the Firefighters' Pension Fund does not specifically define custodial credit risk.

B.

Receivables

The allowance for uncollectible collection experience.

C.

ambulance

accounts

receivable

of $190,000

IS

based on previous

Capital Assets

Capital asset activity for the year ended December 31, 2014 was as follows: Beginning Balance Governmental activities: Capital assets, not being depreciated: Land

$

410,330

Increases

$

$

Ending Balance

Decreases / Adjustments

$

410,330

Capital assets, being depreciated: Buildings and improvements Apparatus and vehicles Equipment

15,532,277 9,133 843 2,341,912

607,535 1,334,034 32.075

16,139,812 10,467,877 2,373,987

Total capital assets, being depreciated

27,008,032

1.973,644

28,981,676

23

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2014

Beginning Balance

Ending Balance

Less accumulated depreciation for: Buildings and improvements Apparatus and vehicles Equipment

3,529,582 4,973,099 1,906,671

322 796 561,794 L70.245

3,852,378 5,534,893 2,076,916

Total accumulated depreciation

10,409.352

1,054,835

1I,464.187

Total capital assets, being depreciated, net

16,598,680

918,809

17,517.489

Governmental activities capital assets, net

$ ] 7,009,010

Depreciation expense was charged to functions/programs Governmental activities: Fire and rescue Emergency medical service General government Total depreciation expense governmental activities D.

Increases

Decreases / Adjustments

Pension and Postemployment

$

918,809

$

$ 17,927,819

as follows:

$

551,392 386030 117,413

$

1,054,835

Benefit Obligations

The District maintains a single-employer, defined benefit pension plan (Firefighters' Pension Fund) which covers its qualified sworn employees and participates in the statewide Illinois Municipal Retirement Fund, an agent multiple-employer defined benefit public employee pension plan which covers substantially all of the remaining qualified District employees. The District also maintains a postemployment benefit plan (Retiree Health Insurance Plan). The information presented in the following notes is the most current information available as of December 31, 2014.

1.

Firefighters'

Pension Fund

Plan Administration. The Firefighters' Fund Board of Trustees administers the Firefighters' Pension Plan, a single employer defined benefit pension plan that provides pension for the qualified Fire District employees of the Orland Fire Protection District. The defined benefits and employee and employer contribution levels are governed by Illinois Compiled Statutes (40 ILCS 5/3-1) and may be amended only by the Illinois legislature.

24

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2014

The Firefighters' Pension Fund Board of Trustees consists of five members. Two members are appointed by the president of the board of trustees, two members are elected by the active sworn members, and one member is elected by retired and/or disabled participants.

The Firefighters' Pension Fund issues a publicly available financial report that includes financial statements and required supplementary information. The report may be obtained at the Fund's administrative office, located at 9790 West 15] st Street, Orland Park, Illinois, 60462.

Plan Membership. following:

At December 31, 2014, the Firefighters'

Pension Plan membership consisted of the

Inactive plan members or beneficiaries currently receiving benefits Inactive plan members entitled to but not receiving benefits Active plan members

56 4 108 168

Total N umber of participating employers

Benefits Provided. The Firefighters' Pension Plan provides retirement benefits as well as death and disability benefits. Tier 1 employees (those hired as a firefighter prior to January 1, 2011) attaining the age of 50 or older with 20 or more years of creditable service are entitled to receive an annual retirement benefit equal to one-half of the salary attached to the rank held on the last day of service, or for one year prior to the last day, whichever is greater. The annual benefit shall be increased by 2.5% 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 eight years but less than 20 years of credited service may retire at or after age 60 and receive a reduced 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 be paid upon reaching the age of at least 55 years, by 3% of the original pension and 3% compounded annually thereafter.

Tier 2 employees (those hired on or after January ],2011) attaining the age of 55 or older with ten or more years of creditable service are entitled to receive an annual retirement benefit equal to the average monthly salary obtained by dividing the total salary of the firefighter during the 96 consecutive months of service within the last 120 months of service in which the total salary was the highest by the number of months of service in that period. Firefighter's salary for pension purposes is capped at $106,800, plus the lesser of one-half of the annual change in the Consumer Price Index or 3% compounded. The annual benefit 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 10 years of service may retire at or after age 50 and receive a reduced benefit (i.e., 1/2% for each month under 55).

The monthly benefit of a Tier 2 firefighter shall be increased annually at age 60 on the January Ist after the firefighter retires, or the first anniversary of the pension starting date, whichever is later. Noncompounding increases occur annually, each January thereafter. The increase is the lesser of 3% or 1/2 of the change in the Consumer Price Index for the preceding calendar year.

25

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2014

Contributions. Employees are required by Illinois Compiled Statutes (ILCS) to contribute 9.45% of their base salary to the Firefighters' Pension Plan. If an employee leaves covered employment with less than 20 years of service, accumulated employee contributions may be refunded without accumulated interest. The District is required to contribute the remaining amounts necessary to finance the Firefighters' Pension Plan, including the costs of administering the plan, as actuarially determined by an enrolled actuary. Effective January 1,2011, the District has until the year 2040 to fund 90% the past service cost for the Firefighters' Pension Plan. For the year ended December 31, 2014, the District's contribution was 29.9% of covered payroll.

Investment Policy. The Firefighters' Pension Plan investment program is derived from the terms and provisions of the Illinois Compiled Statutes (lLCS). ILCS requires the Firefighters' Pension Fund's Board of Trustees to adopt an investment policy which can be amended by a majority vote of the Board. During the year, no changes to the investment policy were approved by the Board of Trustees.

The following investments are allowed as limited by the provisions of the ILCS: • • • •

Direct obligations of the United States of America Obligations that are fully guaranteed or insured by the United States of America Obligations of agencies of the United States of America Insured savings accounts or certificates of deposit issued by banks or savings and loan

•

associations Insured investments in credit unions Bonds of the state of Illinois Pooled accounts managed by the Illinois Public Treasurer's Investment Pool Funds and pooled accounts managed, operated and administered by banks, subsidiaries banks, or subsidiaries of bank holding companies Obligations of any county, township, or municipal corporation of the state of Illinois

• •

Money market mutual funds General and separate accounts of life insurance companies

• •

Mutual funds Common and preferred stocks

• • • •

of

The following was the asset allocation policy adopted by the Board of Trustees as of December 31,2014: Target A II cation

Asset Class

40 % 35 15

Domestic equity Fixed income International equity Real estate Other

7 3 100 %

26

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2014

Rate of Return. For the year ended December 31, 2014, the annual money-weighted rate of return on pension plan investments, net of pension plan investment expense was 6.23 percent. The money-weighted rate of return expresses investment performance, net of investment expense, adjusted for the changing amounts actually invested.

Net Pension Liability of the District. The components of the net pension liability of the District as of December 31,2014 calculated in accordance with GASB Statement No. 67 were as follows: Total pension liability Plan fiduciary net position

$ 133,535,361 (129,996,961)

District's net pension liability

$

Plan fiduciary net position as a percentage of the total pension liability

97.35 %

Actuarial Assumptions.

The total pension liability was determined by an actuarial valuation as of December 31, 2014, using the following actuarial assumptions, applied to all periods included in the measurement: Actuarial cost method - Entry-age Inflation - 3.5% Salary increases - 5.0%, per year Investment rate of return - 7.0%, compounded including inflation

annually, net of pension plan investment expense,

Asset valuation method - Market Mortality rates for active employees and pensioners were based on the RP-2000 Healthy Annuitant Mortality Table with Blue Collar adjustment for Males and Females. The RP-2000 Disabled Mortality Table was used for disabled firefighters.

The actuarial assumptions used in the December 31, 2014 valuation were based on the results of an actuarial experience study for the period January 1, 2014 - December 31, 2014.

The long-term expected rate of return on pension plan investments was determined using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. Best estimates of arithmetic real rates of return for each major asset class included in the Firefighters' Pension Plan's target asset allocation as of December 31, 2014 (see the discussion of the Firefighters' Pension Plan's investment policy) are summarized in the following table: 27

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2014

Long-term Expected Real Rate of Return

Asset Class

6.7 % 1.6 7.4 0.0 0.0

Domestic equity Fixed income International equity Real estate Other

Discount Rate. The discount rate used to measure the total pension liability was 7.0 percent. The projection of cash flows used to determine the discount rate assumed that plan member contributions will be made at the current contribution rate and that District contributions will be made at rates equal to the difference between actuarially determined contribution rates and the member rate. Based on those assumptions, the Firefighters' Pension Plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability.

Sensitivity of the Net Pension Liability to Changes in the Discount Rate. The following presents the net pension liability of the District, calculated using the discount rate of 7.0 percent, as well as what the District's net pension liability would be if it were calculated using a discount rate that is 1.0 percentagepoint lower (6.0 percent) or 1.0 percentage-point higher (8.0 percent) than the current rate:

1% Decrease (6.0%) District's net pension liability (asset)

$

23,823,055

Current Discount Rate (7.0%) $

3,538,400

1% Increase (8.0%) $ (13,017,810)

Significant Investments. There were no investments (other than U.S. government guaranteed obligations, mutual funds, and pooled investments) in anyone organization that represent 5% or more of plan net position.

Annual Pension Cost. The District's employer contributions have been determined as follows: December 31, 2014 Entry age cost method Market Value Level percentage of pay, closed 26 years 7.0% 5.0% 3.5%

Actuarial valuation date Actuarial cost method Asset valuation method Amortization method Amortization period Rate of return on present and future assets * Projected salary increases * * Includes inflation at

28

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2014

The District's annual pension cost and net pension asset for the year ended December 31, 2014 were as follows: Annual required contribution Interest on net pension asset Adjustment to annual required contribution

$

3,293,073 (1 559,025) 350.337

Annual pension cost Contributions made

2,084,385 3.386,334

Increase in net pension asset Net pension asset at beginning of year

1,301,949 21.420,608 $ 22,722,557

Net pension asset at end of year

The District's annual pension cost, the percentage of annual pension cost contributed to the plan, and the net pension asset (obligation) for three most recent years were as follows:

Annual Pension Cost

Fiscal Year Ended 12/31/14 12/31/13 12/31/12

$

2,084,385 2,583,348 4,714,289

Percentage Contributed

Net Pension Asset (Obi igation)

130.47 % 105.27 616.76

$ 22,722,557 21,420,608 21,284,408

Funded Status and Funding Progress. As of December 31, 2014, the most recent actuarial valuation date, the Plan was 83 percent funded. The actuarial accrued liability for benefits was $133,535,361 and the actuarial value of assets was $129,996,961, resulting in an unfunded actuarial accrued liability (VAAL) of $3,538,400. The covered payroll (annual payroll of active employees covered by the Plan) was $11,338,333 and the ratio of the VAAL to the covered payroll was 31 percent.

The required supplementary information following the notes to basic financial additional information related to the funded status of the Plan.

2.

Illinois Municipal

Retirement

statements

presents

Fund

Plan Description. The District's defined benefit pension plan for Regular employees provides retirement and disability benefits, post retirement increases, and death benefits to plan members and beneficiaries.

The District's plan is affiliated with the lIlinois Municipal Retirement Fund (lMRF), an agent multipleemployer plan. Benefit provisions are established by statute and may only be changed by the General Assembly of the State of Illinois. IMRF issues a publicly available financial report that includes financial statements and required supplementary information. That report may be obtained on-line at www.imrf.org.

29

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2014

Funding Policy. As set by statute, the District's Regular plan members are required to contribute 4.5 percent of their annual covered salary. The statute requires employers to contribute the amount necessary, in addition to member contributions, to finance the retirement coverage of its own employees. The employer annual required contribution rate for calendar year 2014 was 8.67 percent. The District also contributes for disability benefits, death benefits and supplemental retirement benefits, all of which are pooled at the IMRF level. Contribution rates for disability and death benefits are set by the IMRF Board of Trustees, while the supplemental retirement benefits rate is set by statute.

Annual Pension Cost and Net Pension Asset. The required contribution for calendar year 2014 was $168,888. The District's annual pension cost and net pension asset for the year ended December 31, 2014 were as follows: 168,888 (70,618)

$

Annual required contribution Interest on net pension asset Adjustment to annual required contribution Annual pension cost Contributions made

98,270 173,342

Increase in net pension asset Net pension asset at beginning of year

75,072 941,569 1.016,641

$

Net pension asset at end of year Three Year Trend Information for the Regular Plan.

Annual Pension Cost

Fiscal Year Ended 12/31/14 12/31/13 12/31/12

$

Percentage Contributed 176.39 % 149.00 527.63

98,270 134,066 204,820

Net Pension Asset (Obligation) $

1,016,641 941,569 875,879

The required contribution for 2014 was determined as part of the December 31, 2012 actuarial valuation using the entry age normal actuarial cost method. The actuarial assumptions at December 31, 2012 included (a) 7.5 percent investment rate of return (net of administrative and direct investment expenses), (b) projected salary increases of 4% a year, attributable to inflation, (c) additional projected salary increases ranging from 0.4% to 10.0% per year depending on age and service, attributable to seniority/merit, and (d) post retirement benefit increases of 3% annually. The actuarial value of the District's Regular plan assets was determined using techniques that spread the effects of short-term volatility in the market value of investments over a five-year period with a 20% corridor between the actuarial and market value of assets. The District's Regular plan's overfunded actuarial accrued liability at December 31, 2012 is being amortized as a level percentage of projected payroll on an open 29 year basis.

30

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2014

Funded Status and Funding Progress. As of December 31, 2014, the most recent actuarial valuation date, the Regular plan was 95.43 percent funded. The actuarial accrued liability for benefits was $4,514,885 and the actuarial value of assets was $4,308,705, resulting in an overfunded actuarial accrued liability (UAAL) of $206,180. The covered payroll for calendar year 2014 (annual payroll of active employees covered by the plan) was $1,947,964 and the ratio of the UAAL to the covered payroll was 11 percent.

The schedules of funding progress and employer contributions, presented as required supplementary information following the notes to basic financial statements, presents multiyear trend information about whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued liability for benefits.

3.

Retiree Health Insurance Plan

Plan Description. The Retiree Health Insurance Plan (RHlP) is a single-employer defined benefit healthcare plan administered by the District. Employees who retire under the Orland Fire Protection District Firefighters' Pension Plan and their spouses and dependents are entitled to participate in the health insurance plan provided for active employees. Such coverage is provided for retired employees and their spouse and dependents until they reach age 65. Retired employees are required to pay 50% of the premiums for such coverage and the District pays the balance of the costs. Two PPO plans and an HMO plan are available for retired employees. The District accounts for the plan as a retiree health insurance trust fund. The Retiree Health Insurance Fund issues a publicly available financial report that includes financial statements and required supplementary information. The report may be obtained at the Fund's administrative office, located at 9790 West 151st Street, Orland Park, Illinois, 60462.

Funding Policy. The contribution requirements are established by the District, using an actuarial study that is based on projected pay-as-you-go financing. For fiscal year 2014, the District contributed $0 to the plan.

Plan members receiving benefits contributed $0. At December 31, 2014, $8,563,418 was held in an irrevocable trust to fund current and future retiree health insurance claims.

Annual OPEB Cost and Net OPEB Asset (Liability). The District's annual other post-employment benefit (OPEB) cost (expense) is calculated based on the annual required contribution of the employer (ARC), an amount actuarially determined in accordance with the parameters of GASB No. 45. The ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost 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 District's annual OPEB cost for the year, the amount actually contributed to the plan, and changes in the District's net OPEB asset (liability):

31

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2014

Annual required contribution Interest on net OPEB asset Adjustment to annual required contribution

$

1,234,355 (16,090) 31,471

Annual OPEB cost (expense) Contributions made

1,249,736

Decrease in net OPEB asset Net OPEB asset at beginning of year

1,249,736 2 2,542 $

Net OPEB liability at end of year

(957.194)

The District's annual OPEB cost, the percentage of annual OPEB cost contributed to the plan, and the net OPEB asset (liability) for the three most recent years were as follows:

Annual OPEB Cost

Fiscal Year Ended 12/31/14 12/31/13 12/31112

$

Net OPEB Asset CLiabiIity)

Percentage of AnnualOPEB Cost Contri buted 0.00 % 98.78 111.28

1,249,736 1,250,200 1,220,997

$

(957,194) 292,542 307,742

Funded Status and Funding Progress. As of December 31,2012, the most recent actuarial valuation date, the plan was 36 percent funded. The actuarial accrued liability for benefits was $19,979,857, and the actuarial value of assets was $7,265,203, resulting in an unfunded actuarial accrued liability (UAAL) of $12,714,654. The covered payroll (annual payroll of active employees covered by the plan) was $15,925,073, and the ratio of the VAAL to the covered payroll was 80 percent.

Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and assumptions about the probability of occurrence of events far into the future. Examples include assumptions about future employment, mortality, and the healthcare cost trend. Amounts determined regarding the funded status of the plan and the annual required contributions of the employer are subject to continual revision as actual results are compared with past expectations and new estimates are made about the future. The schedules of funding progress and employer contributions, presented as required supplementary information following the notes to basic financial statements, present additional information related to the funded status of the plan.

Actuarial Methods and Assumptions. Projections of benefits for financial reporting purposes are based on the substantive plan (the plan as understood by the employer and the plan members) and include the types of benefits provided at the time of each valuation and the historical pattern of sharing of benefit costs between the employer and plan members to that point. The actuarial methods and assumptions used include techniques that are designed to reduce the effects of short-term volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long-term perspective of the calculations.

32

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2014

In the December 31, 2012 actuarial valuation, the entry age normal actuarial cost method was used. The actuarial assumptions included a 5.50 percent investment rate of return (net of administrative expenses), a 3.00 percent inflation rate, and an annual healthcare cost trend rate of 7.50 percent initially, reduced by decrements to an ultimate rate of 5.00 percent after ten years. The UAAL is being amortized as a level percentage of projected payroll on an open basis. The remaining amortization period at December 31, 2012 was 30 years.

E.

Interfund Receivables and Payables

Individual interfund receivable and payable balances at December 31,2014 were as follows:

General Fund Ambulance Fund Nonmajor governmental fund

Amount

Payable Fund

Receivable Fund

Capital Projects Fund General Fund General Fund

Total

$

1,745,507 3,03541 L 21,306

$

4,802,224

The outstanding balances between funds result mainly from the time lag between the dates that monies are received by the individual funds and the expend iture of funds. The repayment of the balances is expected to be funded by transfers from other funds.

F.

Interfund Transfers

Nonmajor governmental fund Nonmajor governmental fund

Amount

Transfer out

Transfer in

General Fund Ambulance Fund

Total

$

600,000 525,000

$

I, 125.000

Transfers are used to move revenues from the fund that statute or budget requires to collect them to the fund that statute or budget requires to expend them in accordance with budgetary authorizations.

33

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2014

G. Long-term Liabilities Long-term liability activity for the year ended December 31, 2014 was as follows: Beginning Balance Bonds payable: General obligation bonds Issuance premium Debt certificates: General obligation debt certificates Issuance discount Installment contract payable Compensated absences Other post-employment benefits obligation

$

3,260,000 29,091

1,527,156

1,155,822 188,641

(292,542)

1.24·9,7J.6

$

2,594,199

2,275,000 20,233

$

$

1,115,000

520,000

25,850,000 (279,550) 1,050,824 1,375,330

445,000 (14,713) 104,998 340,467

26,295,000 (294,263)

s 30,524.442

Total

985,000 8,858

$

$

Due Within One Year

Ending Balance

Reductions

Additions

108,305 220,000

957,194 $

1,869,610

$

31,249,031

s

1,963.305

The debt service of the general obligation bonds and debt certificates will be funded by transfers from the General Fund and the Ambulance Fund, The debt service of the other long-term liabilities will generally be from the General Fund, The schedu Ie of the long-term debt outstanding at December 31, 2014 is as follows: General Obligation Bonds General obligation bonds are direct obligations and pledge the full faith and credit of the District $5,000 December 15th December 15th and June 15th 3,75% - 4,00% The Bank of New York Trust Co, Chicago, Illinois $8,000,000

Denomination Bonds due each year Interest dates Interest rates Paying agent Total original issue

Total Due

Interest Due

Principal Due

Year Ending December 31, 2015 2016

$

1,115,000 1,160,000

$

91,000 46,400

$

L 206,000 1,206,400

Total

$

2.275,000

$

137,400

$

2,412,400

34

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2014

General Obligation Debt Certificates General obligation debt certificates are direct obligations and pledge the full faith and credit of the District.

Principal due each year Interest dates Interest rates Paying agent

December 15th December 15th and June 15th 1.00% - 4.95% The Bank of New York Mellon Trust Co. Chicago, Illinois $26,715,000

Total original issue Year Ending December 3 1,

Principal Due

Total Due

Interest Due

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032

$

520,000 595,000 680,000 765,000 860,000 965,000 1,070,000 1,185,000 1,305,000 1,430,000 1,555,000 1,685,000 1,820,000 1,960,000 2,120,000 2,280,000 2,445,000 2.610,000

$

1,050,398 1,042,078 1,030,773 1,016,153 997,410 973,760 944,328 909,018 867,543 819,910 766,285 707,973 640,573 565,043 468,023 363,083 250,223 129.195

$

1,570,398 1,637,078 1,710,773 1,781,153 1,857,410 1,938,760 2,014,328 2,094,018 2,172,543 2,249,910 2,321,285 2,392,973 2,460,573 2,525,043 2,588,023 2,643,083 2,695,223 2,739,195

Total

$

25,850,000

$

13,541,769

$

39,391,769

35

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2014

Installment Contract The District entered into an installment contract for two Pierce Impel pumpers. Payments contract, including interest at 3.15%, are due as follows: Year Ending December 3 1,

Principal Due

Interest Due

Total Due

2015 2016 2017 2018 2019 2020 2021

$

108,305 111,716 115,235 118,865 122,608 126,470 347,625

$

33,096 29,685 26,166 22,536 18,793 14,931 930

$

141,401 141,401 141,401 141,401 141,401 141,401 348,555

Total

$

1,050,824

$

146,137

$

1,196,961

The annual requirements to amortize all outstanding debt as of December 31,2014 are as follows: Year Ending December 31.

Principal Due

Interest Due

Total Due

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032

$

1,743,305 1,866,716 795,235 883,864 982,608 1,091,470 1,417,626 1,185,000 1,305,000 1,430,000 1,555,000 1,685,000 1,820,000 1,960,000 2,120,000 2,280,000 2,445,000 2,610,000

$

1,174,494 1,118,163 1,056,939 1,038,690 1,016,203 988,692 945,258 909,018 867,543 819,910 766,285 707,973 640,573 565,043 468,023 363,083 250,223 129,195

$

2,917,799 2,984,879 1,852,174 1,922,554 1,998,811 2,080,162 2,362,884 2,094,018 2,172,543 2,249,910 2,321,285 2,392,973 2,460,573 2,525,043 2,588,023 2,643,083 2,695,223 2,739,195

Total

$

29,175,824

s

13,825,308

$

43.001.132

36

under the

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2014

The legal debt margin of the District as of December 31,2014 is determined as follows: Assessed valuation - 2013 tax year (most current valuation available)

$

2.248,218,202

Statutory debt limitation (5.75% of assessed valuation)

$

129,272,547

Total debt outstanding

28,916,507

Legal debt margin

100,356,040

$

H. Fund Balances As of December 31, 2014, fund balances were comprised of the following:

General Fund Nonspendable: Prepaid items

$

177,149

Capital Projects Fund

Ambulance Fund

$

$

Nonmajor Fund

Total Governmental Funds

$

$

177.149

Restricted: Emergency rescue Municipal Retirement / Social Security Tort immunity

70,394 1.468,287

24,705

95,099 1,468,287

Total restricted

1,937,709

24,705

1,962.414

399,028

Assigned: Capital projects Debt service Emergency medical Emergency rescue General government Tort immunity

200,410 22,764 152,275

Total assigned

375.449

399,028

2,671,936 21,306 3,958,635

Unassigned

6,271,207

Total

$ 8,761,514

3,958,635

2,671,936

21,306

2,671,936 21,306 3,958,635 200,410 22,764 152,275 7,027,326 6,271.207

$ 3.983,340

37

$ 2.671.936

$

21.306

$ 15.438,096

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2014

I.

Encumbrances

Encumbrance accounting is employed as an extension of formal budgetary integration for the General Fund, Ambulance Fund, and Capital Projects Fund. At December 31, 2014, certain amounts which were previously restricted, committed, or assigned for specific purposes have been encumbered in the governmental funds. Significant encumbrances included in governmental fund balances are as follows: Encumbrances Included in: Restricted Assigned Fund Fund Balance Balance General Fund Ambulance Fund Capital Projects Fund Total J.

$

$

33,297 21,767 590,236

$

$

645.300

Risk Management

The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; injury to employees; employee medical coverage; and natural disasters. In order to protect against such losses, the District has purchased insurance from private insurance companies and has also joined the Illinois Counties Risk Management Trust Fund. The fund currently operates as a common risk management and insurance program entities in the State of Illinois. The District pays annual premiums to the fund for its general insurance coverage. The agreement for formation of the fund provides that it will be self-sustaining through member premiums and will reinsure through commercial companies for losses in excess of various limits established for each type of coverage. The amount of coverage has not decreased nor have the amount of settlements exceeded coverage in the current year or any of the past three years.

K.

Tort Immunity

Expenditures

Tort immunity expenditures for the year ended December 31, 2014 are summarized as follows: Property and liability insurance Risk management personnel costs Other Total

38

$

1,027,019 1,576,545 353,961

$

2,957,525

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2014

L.

Labor Concentrations

The sworn and certain non-sworn personnel of the District are covered by collective bargaining agreements that expire on December 31, 2015 and 20 1~, respectively.

M.

Subsequent Events

Management has evaluated subsequent statements were available to be issued.

N.

events through June 19, 2015, which is the date the financial

New Accounting Standard

The Governmental Accounting Standards Board recently issued Statement No. 68 - Accounting and Financial Reporting for Pensions, which will be effective for fiscal year 2015. This Statement revises and establishes new financial reporting requirements for most governments that provide their employees with pension benefits. The effects on the financial statements of adopting the new standard are not currently known by the District.

39

REQUIRED SUPPLEMENTARY INFORMATION

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS REQUIRED SUPPLEMENTARY INFORMATION FIREFIGHTERS' PENSION PLAN DECEMBER 31,2014

SCHEDULE

OF CHANGES

IN THE DISTRICT'S

NET PENSION LIABILITY 2014*

Total pension liability: Service cost Interest Differences between expected and actual experience Changes of assumptions Benefit payments, including refunds of member contributions

$

Net change in total pension liability

14,490,47\

Total pension liability at beginning of year

\\9,044,890 $ \33,535,36\

Total pension liability at end of year Plan fiduciary net position: Contributions - employer Contributions - member Other Net investment income Benefit payments, including refunds of member contributions Administrative expense

$

120,495.462

Plan fiduciary net position at beginning of year

$ 129,996,961

Plan fiduciary net position at end of year

$

District's net pension liability at end of year

$

payroll

District's net pension liability as a percentage of covered-employee

payroll

Information for December 31, 2014 is the only information that is currently available.

40

3,538,400 97.35 %

Plan fiduciary net position as a percentage of total pension liability Covered-employee

3,386,334 1,214,057 50 7,571,094 (2,571,284) (98,752) 9,501,499

Net change in plan fiduciary net position

*

4,557,023 8,401,468 2,655,010 1,448,254 (2.571.284)

11,338,333 31.2 %

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS REQUIRED SUPPLEMENTARY INFORMATIONFIREFIGHTERS' PENSION PLAN DECEMBER 31,2014

SCHEDULE OF DISTRICT CONTRIBUTIONS 2014* $

Actuarially determined contribution

3.386.334

Contributions in relation to the actuarially determined contribution Contribution excess Covered-employee

payroll

Contributions as a percentage of covered-employee *

3,293,073

$

(93,261)

$

11.338,333 29.87 %

payroll

Information for December 31, 2014 is the only information that is currently available.

Notes to Schedule: Valuation Date. Actuarially determined contribution rates are calculated as of December 31, 2014.

Methods and Assumptions used to Determine Contribution Rates.

Actuarial cost method

Entry age

Amortization method

Level percentage of payroll, closed

Remaining amortization period

26 years

Asset valuation method

Market value

Inflation

3.5%

Salary increases

5.0%, average, including inflation

Investment rate of return

7.0%, compounded annually, net of investment expense, including inflation

SCHEDULE OF INVESTMENT

pension

plan

RETURNS 2014*

Annual money-weighted *

rate of return, net of investment expense

Information for December 31, 2014 is the only information that is currently available.

41

6.23 %

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS REQUIRED SUPPLEMENTARY INFORMATIONFIREFIGHTERS' PENSION PLAN DECEMBER 31,2014

SCHEDULE OF FUNDING PROGRESS

Actuarial Valuation Date December December December December December December

31,2014 31, 2013 31, 2012 31, 2011 31, 2010 31, 2009

Actuarial Value of A

set

$129,996,961 120,495,462 103,425,685 68,179,006 64,169,486 55,103,492

Actuarial Accrued Liability $133,535,361 119,044,890 103,358,777 93,554,592 83,897,747 78,216,004

$

Unfunded Actuarial Accrued Liability (UAAL)

Funded Ratio

Covered Payroll

UAAL as a Percentage of Covered Payroll

3,538,400 (1,450,572) (66,908) 25,375,586 19,728,261 23,112,512

97.35 101.20 100.10 72.90 76.49 70.45

$ 11,338,333 12,540,397 11,687,616 10,703,903 10,593,244 10,244,016

31.21 (11.57) (0.57) 237.07 186.23 225.62

SCHEDULE OF EMPLOYER CONTRIBUTIONS

Yell r Ended December December December December December December

31, 2014 31, 2013 31, 2012 31,2011 31, 2010 31, 2009

Required Contribution $

3,293,073 3,386,334 4,324,815 3,625,665 3,728,549 3,331,538

42

Percentage On tribured 102.83 80.31 672.30 94.50 81.30 75.00

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS REQUIRED SUPPLEMENTARY INFORMATION ILLINOIS MUNICIPAL RETIREMENT FUND DECEMBER 31, 2014

SCHEDULE

December December December December December December

31,2014 31,2013 31, 2012 31,2011 31, 2010 31, 2009

$

Unfunded Actuarial Accrued Liability (UAAL)

Actuarial Accrued Liability Entry-Age

Actuarial Value of Assets

Actuarial Valuation Date

OF FUNDING PROGRESS

$

4,308,705 4,176,054 3,542,035 2,246,371 2,360,455 2,020,259

4,514,885 4,023,899 3,685,467 3,122,250 3,319,157 2,918,383

206,180 (152,155) 143,432 875,879 958,702 898,124

$

Covered Payroll

Funded Ratio 95.43 103.78 96.11 71.95 71.12 69.23

$

1,947,964 1,786,726 1,801,408 1,728,072 1,650,019 1,476,760

UAAL as a Percentage of Covered Payroll 10.58 N/A

7.96 50.69 58.10 60.82

On a market value basis, the actuarial value of assets as of December 31, 2014 is $4,880,851. On a market basis, the funded ratio would be 108.11 %.

The actuarial value of assets and accrued liability cover active and inactive members who have service credit with Orland Fire Protection District, Illinois. They do not include amounts for retirees. The actuarial accrued liability for retirees is 100% funded.

SCHEDULE OF EMPLOYER CONTRIBUTIONS Required Contribution

Year Ended December December December December December December

31, 2014 31, 2013 31, 2012 31, 2011 31, 2010 31, 2009

$

168,888 199,756 204,820 199,592 188,762 163,920

43

Percent Contributed 100.00 100.00 526.17 100.00 100.00 100.00

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS REQUIRED SUPPLEMENTARY INFORMATION RETIREE HEALTH INSURANCE PLAN DECEMBER 31, 2014

SCHEDULE

Actuarial Valuation Date December December December December

31, 2012 31, 2011 3 1, 2009 31, 2007

$

OF FUNDING PROGRESS

Actuarial Value of Assets

Actuarial Accrued Liability

Unfunded Actuarial Accrued Liability (UAAL)

7,265,203 5,774,041 3,922,615

$ 19,979,857 20,405,022 18,392,257 16,806,907

$ 12,714,654 14,630,981 14,469,642 16,806,907

Funded Ratio

Covered Payroll

UAAL as a Percentage of Covered Payroll

36.36 28.30 21.33 0.00

$ 15,925,073 16,106,119 14,020,649 11,633,789

79.84 90.84 103.20 144.47

Information provided above is the most current information available.

SCHEDULE OF EMPLOYER CONTRIBUTIONS

Year Ended December December December December December December

31,2014 31, 2013 31, 2012 31, 2011 31, 2010 31, 2009

Required Contribution $

1,234,355 1,234,355 1,291,437 1,390,511 1,358,747 1,519,754

44

Percentage Contributed 0.00 100.05 105.21 25.80 113.41 101.00

COMBINING AND INDIVIDUAL FUND AND FINANCIAL STATEMENTS AND SCHEDULES

MAJOR GOVERNMENTAL FUNDS

GENERAL

FUND

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS COMBINING SCHEDULE OF GENERAL FUND BALANCE SHEET ACCOUNTS DECEMBER 31,2014 WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2013

Emergency Rescue

Tort Liability

Corporate

Totals

2014

2013

$ 10,004,378

$ 11,750,349

19,015,193 417,793 1,745,507 22,Q68 177,149

18,498,987 399,614 73Q,747 9,229 '\57.416

$ (2286,541)

s 31.382,688

$ 31.552,342

$

$

Eliminations

ASSETS Cash and investments Receivables: Property taxes Accounts Due from other funds Due from fiduciary trust fund Prepaid items Total assets

$ 10,004,378

$

$

$

14,971,395 417,793 1,745,507 22,668 2,781

3,044,609

999,189

1670,466

616,075

$ 27,164,522

s 4,889.443

$

$

$

(2,28(5,541 )

174.368 1,615,264

LIABILITIES Accounts payable Accrued expenditures Due to other funds Total1iabilities

$

356,345 229,194 5,343,258

40,398

$

264,865 326549 3,800,990

(2.286,S4l)

356,345 286,229 3,056,717

(2,286,541 )

3,699,291

4.392,404

16,637

5,928,797

40,398

16,637

14,878,085

3,044,609

999,189

18.921.883

18,330,796

2,781 60,888 22,764 6,271.207

174,368 1,477 793 152,275

399,028 200,410

177,149 1,9)1'1,709 375,449 6,271,207

157,416 1,681,296 1,197,863 5,792,567

6,357,640

1,804.436

599.438

8,761.514

8,829,142

$ 31.382,688

$ 31,552,342

DEFERRED INFLOWS OF RESOURCES Unearned revenue - property taxes

FUND BALANCES N onspendable Restricted Assigned Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances

$ 27,164.522

$

4,889,443

$

45

1,615,264

§ (2,286,541)

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS COMBINING SCHEDULE OF GENERAL FUND REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES YEAR ENDED DECEMBER 31, 2014 WITH COMPARATIVE TOTALS FOR THE YEAR ENDED DECEMBER

Revenues: Property taxes Charges for service Grant proceeds Investment income Personal property replacement taxes Other

$

Total revenues Expenditures: Current: Personnel: Compensation and salaries Payroll taxes Education and seminars Health and life insurance Pension contribution Commodities: Heat, light and power Operational supplies Postage and printing Protective clothing Repairs and maintenance Telephone Vehicle maintenance Contractual: Insurance Professional services Other Debt service: Principal Interest

Totals

Emergency Rescue

Tort Liability

Corporate

31, 2013

2013

2014

9.336

2,701 4.668

15.283.526

3.166,485

1,078.730

19.528.741

19,768,206

7,695,105 156,640 24,270 1,326,907 3,386,334

1,544,208 24,561 7,776

667,272 22,657 3,428 100,235

9,906,585 203,858 35,474 1,427,142 3,386,334

9,930,434 228,840 72,914 1,818,607 2,719,548

7,814 53,006 7,207 39,692 3,568 8,560

47,754 387,471 2,648 121,593 268,176 22,638 51,363

69,354 467,015 6,236 86,811 576,885 24,589 70,911

29,984 7,452

1,027,019 520,132 87,222

1,128,657 402,669 127,185

445,000 1,055,960

420,000 1.021.876

$

3,155,829 1,320

39,940 266,258 2,648 97,079 200,861 19,070 42,803

$

68,207 17,307 27,623

1,027,019 244,485

245,663 79,770

1,014,310 57,051

$

445,000 1.055.960

$

18,959,921 482,904 64,944 38,756 53,633 168.048

18,934,177 368,631 77,662 7,791 17,144 123,336

14,764,038 310,260 77,662 7,791 14,443 109.332

15,084.308

2.961.186

950.875

18,996.369

19.172.531

Excess of revenues over expenditures

199,218

205,299

127,855

532,372

595,675

Other financing uses: Transfers out

(500,000)

( I 00,000)

(600.000)

( 1.071.600)

Net change in fund balances

(300,782)

205,299

27,855

(67.628)

(475,925)

Fund balances at beginning of year

6,658.422

1.599.137

571.583

8,829,142

9.305,067

Total expenditures

Fund balances at end of year

$

6,357,640

$

1,804.436

46

$

599,438

$

8,761.514

s

8.829,142

CORPORATE FUND

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS CORPORATE FUND BALANCE SHEET DECEMBER 31,2014 WITH COMPARATIVE AMOUNTS FOR DECEMBER 31, 2013

2013

2014 ASSETS $

Cash and investments Receivables: Property taxes Accounts Due from other funds Due from fiduciary trust fund Prepaid items

10,004,378

$

14,418,872 399,614 736,747 9,229 6,190

14,971,395 417,793 1,745,507 22,668 2,781

Total assets

11,750,349

$

27,164,522

$

27,321.001

$

356345 229,194 5,343,258

$

264,865 326,549 5,820,484

LIABILITIES Accounts payable Accrued expenditures Due to other funds Total liabilities

DEFERRED

INFLOWS

5.928,797

6,41 1.898

14,878,085

14,250,681

2,781 60,888 22;764 6,271,207

6,190 42,121 817544 5,792,567

6,357,640

6,658,422

OF RESOURCES

Unearned revenue - property taxes

FUND BALANCES Nonspendable Restricted Assigned Unassigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances

$

47

27,164.522

$

27,321,001

ORLAND FIRE PROTECTION

CORPORATE

DISTRICT, ILLINOIS

FUND

SCHEDULE OF REVENUES, EXPENDITURES, ENCUMBRANCES CHANGES IN FUND BALANCES - BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2014 WITH COMP ARA TIVE ACTUAL AMOUNTS FOR THE YEAR ENDED DECEMBER 31,2013

AND

2013

2014 Final Budget

Original Budget Revenues: Property taxes Charges for service Grant proceeds Investment income Personal property replacement taxes Other Total revenues Expenditures and encumbrances: Current: Personnel: Compensation and salaries Payroll taxes Education and seminars Health and life insurance Pension contribution Commodities: Heat, light and power Operational supplies Postage and printing Protective clothing Repairs and maintenance Telephone Vehicle maintenance Contractual: Professional services Other Debt service: Principal Interest Total expenditures and encumbrances

$

Actual

Variance with Final Budget

$

539,160 28,192 77,662 (8,867)

Actual

$

15,720,406 425,306 64,944 38,756

16,658

16,658

14,764,038 310,260 77,662 7,791

12,327 86;871

12,327 86,871

14,443 109,332

2,116 22,461

53,633 148,871

14,622,802

14,622,802

15,283,526

660,724

16.451;916

7,508,380 144,829 42,564 1,477,880 2,897,199

7,699,122 154,158 42,564 1,477,880 3,390,543

7,695,105 156,640 26,645 1,326,907 3,386,334

4,017 (2,482) 15,919 150,973 4,209

8,329,929 182,638 46,537 1,649,888 2,719,548

56,277 164,041 7,330 79,195 185,409 20,322 39,000

56,277 249,341 7,330 113,498 221,530 20,322 44,000

39,940 186,296 2,648 84,474 197,431 19,070 42,803

16,337 63,045 4,682 29,024 24,099 1,252 1,197

59,446 306,403 6,236 99,153 299,431 18,100 52,211

135,716 86,645

192,955 112,645

245,663 76,570

(52,708) 36,075

310,441 129,414

445,000 1,055,960

445,000 I,055,960

445,000 1,055,960

14,345,747

15,?83,125

14,987,486

14,224,878 282,068

$

14,224,878 282,068

48

$

420,000 1,021 ,876

295,639

15,65 L251

2013

2014 Final Budget

Original Budget

Excess (deficiency) of revenues over expenditures and encumbrances

Actual

Variance with Final Budget

Actual

800,665

956,363

277,055

(660,323)

296,040

( 1.115,400)

(500,000)

(500,000)

Net change in fund balances

(838,345)

(1,160,323)

(203,960)

Fund balances at beginning of year (Non-GAAP budgetary basis)

6,538,836

6.538,836

6.538,836

Fund balances at end of year (Non-GAAP budgetary basis)

5,700,491

5,378,513

6,334,876

956,363

6,538,836

22,764

22,764

119,586

Other financing uses: Transfers out

Adjustment to generally accepted accounting principles: Current year encumbrances included in expenditures Fund balances at end of year (GAAP basis)

$

5.700,491

!II

5,378,513

49

$

6,357,640

( 1,07 J ,600) (270,935)

956,363

6,809,771

s

979,127

$

6,658,422

TORT LIABILITY FUND

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS TORT LIABILITY FUND BALANCE SHEET DECEMBER 31, 2014 WITH COMPARATIVE AMOUNTS FOR DECEMBER 31,2013

2013

2014 ASSETS Property taxes receivable Due from other funds Prepaid items Total assets

$

3,044,609 1,670,466 174.368

$

3,037,864 1,447,911 151,226

$

4,889.443

$

4,637,001

$

40.398

$

LIABILITIES Accrued expenditures

DEFERRED

INFLOWS

OF RESOURCES

Unearned revenue - property taxes

3,044,609

3,037,864

174,368 1,477,793 152,275

151,226 1,306,292 141,619

1,804,436

1.599.137

FUND BALANCES Nonspendable Restricted Assigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances

$

50

4,889.443

$

4,637,001

ORLAND

FIRE

PROTECTION DISTRICT, ILLINOIS TORT LIABILITY FUND SCHEDULE OF REVENUES, EXPENDITURES, ENCUMBRANCES CHANGES IN FUND BALANCES - BUDGET AND ACTUAL YEAR ENDED DECEMBER 31,2014 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 2013

AND

2013

2014 Final Budget

Original Budget Revenues: Property taxes Charges for service Other

3,079,533 2,000 2,641

$

3,079,533 2,000 2,641

$

Variance with Final Budget

Actual 3,155,829 1,320 9,336

$

76,296 (680) 6,695

$

Actual 2,041,644

$

17.425

3,084,174

3,084,174

3,166,485

82,311

2,059,069

1,342,276 23,048 26,655 236,735

1,342,276 23,048 26,655 236,735

1,332,287 24,561 7,776 211,921

9,989 (1,513) 18,879 24,814

628,407

35,400 14,242 21,350

35,400 14,242 22,777

61,957 19,896 27,623

(26,557) (5,654) (4,846)

12,386

929,100 305,532

929,100 304,105

1,027,019 244.485

(97,919) 59,620

1,128,657 8,406

Total expenditures and encumbrances

2,934,338

2,934,338

2,957,525

(23,187)

1.784,247

Excess of revenues over expenditures and encumbrances

149,836

149,836

208,960

59,124

274,822

Fund balances at beginning of year (Non-GAAP budgetary basis)

1,592.887

I, 92,887

1,592,887

Fund balances at end of year (Non-GAAP budgetary basis)

1,742,723

1,742,723

1,801,847

59,124

1,592,887

2,589

2,589

6,250

Total revenues Expenditures and encumbrances: Current: Personnel: Compensation and salaries Payroll taxes Education and seminars Health insurance Commodities: Operational supplies Protective clothing Repairs and maintenance Contractual: Insurance Professional services

Adjustment to generally accepted accounting principles: Current year encumbrances included in expenditures Fund balances at end of year (GAAP basis)

$

1.742.723

$

1,742.723

51

s

1,804,436

5,298

1,093

1,318,065

$

61,713

s

1,599,137

EMERGENCY RESCUE FUND

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS EMERGENCY RESCUE FUND BALANCE SHEET DECEMBER 31, 2014 WITH COMPARATIVE AMOUNTS FOR DECEMBER 31,2013

2013

2014 ASSETS Property taxes receivable Due from other funds Total assets

$

999,189 616.075

$

1,042,251 571.583

$

1,615,264

$

1.613.834

$

16.637

$

LIABILITIES Accrued expenditures

DEFERRED

INFLOWS

OF RESOURCES

Unearned revenue - property taxes

999,189

1,042,251

399,028 200.410

332,883 238,700

599.438

571,583

FUND BALANCES Restricted Assigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances

$

52

1,615,264-

$

L613,834

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS EMERGENCY RESCUE FUND SCHEDULE OF REVENUES, EXPENDITURES, ENCUMBRANCES CHANGES IN FUND BALANCES - BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2014 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 2013

AND

2013

2014 Final Budget

Original Budget Revenues: Property taxes Charges for service Personal property replacement taxes Other Total revenues Expenditures and encumbrances: Current: Personnel: Compensation and salaries Payroll taxes Education and seminars Health insurance Commodities: Heat, light and power Operational supplies Protective clothing Repairs and maintenance Telephone Vehicle maintenance Contractual: Professional services Other Total expenditures and encumbrances

$

1,066,035 51,270

$

1,066,035 51,270

Actual

$

1,014,310 57,051

Variance with Final Budget

$

(51,725) 5,781

Actual

$

1,197,871 57,598

2,306 5,752

2,306 5,752

2,701 4,668

395 (I ,084)

1,752

1,125,363

L125,363

1,078,730

(46,633)

1,257,221

620,861 18,504 23,606 111,207

629,648 18,504 23,606 111,207

667,272 22,657 3,411 100,235

(37,624) (4,153) 20,195 10,972

972,098 46,202 3,656 168,719

11,901 70,979 5,978 30,604 3,802 7,800

11,901 87,671 8,338 50,770 3,802 7,800

7,814 55,663 5,966 39,090 3,568 8,560

4,087 32,008 2,372 11,680 234 (760)

9,908 37,517 8,361 66,089 6,489 18,700

25,440 7,790

35,769 7,790

29,984 7,452

5,785 338

83,822

938,472

996,806

951,672

45,134

1,421,561

53

2013

2014 Final Budget

Original Budget Excess (deficiency) of revenues over expenditures and encumbrances

Actual

128,557

186,891

Other financing uses: Transfers out

Variance with Final Budget

127,058

(1,499)

(100,000)

(100,000) (101,499)

Actual

(164,340)

(164,340)

Net change in fund balances

186,891

128,557

27,058

Fund balances at beginning of year (Non-GAAP budgetary basis)

564,435

564,435

564,435

Fund balances at end of year (Non-GAAP budgetary basis)

751,326

692,992

591,493

(101,499)

564,435

7,945

7,945

7,148

Adjustment to generally accepted accounting principles: Current year encumbrances included in expenditures Fund balances at end of year (GAAP basis)

$

751,326

$

692,992

54

$

599.438

728,775

$

(93,554)

s

571,583

AMBULANCE FUND

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS AMBULANCE FUND BALANCE SHEET DECEMBER 31, 2014 WITH COMPARATIVE AMOUNTS FOR DECEMBER 31, 2013

2013

2014 ASSETS Receivables: Property taxes Accounts Due from other funds Total assets

$

8,413,385 1,161,871 3.035,411

$

8,082,985 1,177,790 3.789,284

$

12,610,667

$

13.050.059

$

213,942

$

LIABILITIES Accrued expenditures Due to fiduciary trust fund

1,235.000

Total liabilities

DEFERRED

INFLOWS

213.942

1.235,000

8.413,385

8,082.988

24,705 J,958,635

22,420 3,709.651

3.983.340

3,732,071

OF RESOURCES

Unearned revenue - property taxes

FUND BALANCES Restricted Assigned Total fund balances Total liabilities, deferred inflows of resources, and fund balances

$

55

12,610,667

$

13.050,059

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS AMBULANCE FUND SCHEDULE OF REVENUES, EXPENDITURES, ENCUMBRANCES CHANGES IN FUND BALANCES - BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2014 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED DECEMBER 31,2013

AND

2013

2014 Final Budget

Original Budeet Revenues: Property taxes Charges for service Investment income Personal property replacement taxes Other Total revenues Expenditures and encumbrances: Current: Personnel: Compensation and salaries Payroll taxes Education and seminars Health and life insurance Commodities: Heat, light and power Operational supplies Postage and printing Protective clothing Repairs and maintenance Telephone Vehicle maintenance Contractual: Billing services Professional services Other Total expenditures and encumbrances

$

8,032,806 2,597,310 30,226

$

8,032,806 2,597,310 30,226

Actual

$

8,370,766 3,011,493 14,137

Variance with Final Budgel

$

337,960 414,183 (16,089)

Actual

$

7,210,222 2,835,327

22,367 35,766

22,367 35,766

26,207 39,704

3,840 3,938

17,698

10,718.475

10,718,475

1] ,462,307

743,832

10,063247

7,261,315 204,023 34,856 1,481,822

7,587,179 229,023 34,856 1,481,822

7,463,047 245,140 21,682 1,332,803

124,132 (16,117) 13,174 149,019

5,899,650 206,710 26,309 2,356,584

102,321 167,172 13,299 75,485 248,811 36,876 70,200

102,321 287,586 13,299 107,958 438,381 36,876 70,200

77,778 288,947 4,805 88,246 354,653 34,603 77,043

24,543 (1,361) 8,494 19,712 83,728 2,273 (6,843)

29,720 83,859 63,661 234,431 24,811 71,499

120,000 242,875 225,565

120,000 242,875 225,565

144,013 284,758 266,055

(24,013) (41,883) (40,490)

116,816 321,850 152,554

10,284,620

10,977,941

10,683,573

294,368

9,588,454

56

20'13

2014 Final Budgct

Original Budget

Excess (deficiency) of revenues over expenditures and encumbrances

Actual

(259,466)

433,855

Other financing uses: Transfers out

Variance with Final Budget

Actual

778,734

1,038,200

474,793

(525,000)

(525,000)

(1,000,000)

513,200

(525,207)

433,855

(259,466)

253,734

Fund balances at beginning of year (Non-GAAP budgetary basis)

],707,840

3.707,840

3,707.840

Fund balances at end of year (Non-GAAP budgetary basis)

4,141,695

3,448,374

3,961,574

513,200

3,707,840

21,766

21,766

24.231

Net change in fund balances

Adjustment to generally accepted accounting principles: Current year encumbrances included in expenditures Fund balances at end of year (GAAP basis)

s

4,141,695

$

3,448.374

57

$

3.983,340

4.233.047

s

534,966

$

3,732,071

CAPITAL PROJECTS

FUND

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS CAPITAL PROJECTS FUND BALANCE SHEET DECEMBER 31, 2014 WITH COMPARATIVE AMOUNTS FOR DECEMBER 31, 2013

2013

2014 ASSETS Cash and investments

$

4,476,326

$

4,472,757

$

58,883 1,745,507

$

58,883 736.747

LIABILITIES Accounts payable Due to other funds Total liabilities

1,804,390

795,630

2,671,936

3,677,127

FUND BALANCES Assigned $

Total liabilities and fund balances

58

4,476,326

$

4,472,757

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS CAPIT AL PROJECTS FUND SCHEDULE OF REVENUES, EXPENDITURES, ENCUMBRANCES CHANGES IN FUND BALANCES - BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2014 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 2013

AND

20)3

20]4 Final Budget'

Original Budget Revenues: Grant proceeds Investment income Other

Actual

Total revenues Expenditures and encumbrances: Debt service: Principal Interest Capital outlay Total expenditures encumbrances

Actual

$

$

$

$

$

Variance with Final Budget

3,504

8,004

8,004

23,334

(104,998) (36,403) (777,642)

1,168,203

4,500

11.250

1,608,000

104,998 36,403 2,385,642

11,250

1,608,000

2,527,043

(919,043)

1,168.203

(11.250)

( 1,608,000)

(2,519.039)

(911.039)

( 1.144,869)

1,155,822

1,155,822

and

Deficiency of revenues under expenditures and encumbrances

20,000 3,334

3,504 4.500

Other financing sources: Installment contract Transfers in

1,000,000

Total other financing sources

1.155.822

1,155,822

1,000,000

244,783

( 144,869)

(11,250)

(1,608,000)

(1,363,217)

Fund balances at beginning of year (Non-GAAP budgetary basis)

3.444.917

3.444,917

3,444.917

Fund balances at end of year (Non-GAAP budgetary basis)

3,433,667

1,836,917

2,081,700

244,783

3,444,917

590,236

590,236

232.210

Net change in fund balances

Adjustment to generally accepted accounting principles: Current year encumbrances included in expenditures Fund balances at end of year (GAAP basis)

$

3.433,667

$

1,836,9 J 7

59

$

2.671.936

3,589.786

$

835.019

$

3,677.127

NONMAJOR

GOVERNMENTAL

FUND

DEBT SERVICE FUND

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS DEBT SERVICE FUND BALANCE SHEET DECEMBER 31, 2014 WITH COMPARATIVE AMOUNTS FOR DECEMBER 31,2013

2014

2013

ASSETS Due from other funds

$

21,306

=$ =--===1:=1,0,:,7==06=

$

21,3 06

~$==~=Il::;,7==0=6

FUND BALANCES Assigned

60

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS DEBT SERVICE FUND SCHEDULE OF EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL YEAR ENDED DECEMBER 31,2014 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED DECEMBER 31,2013

2013

2014 Final Budget

Original Budget Expenditures: Debt service: Principal Interest

$

Total expenditures Other financing sources: Transfers in

985,000 130,400

$

$

985,000 130,400

1.115,400

500,000

1,125,000

625,000

(615,400)

9,600

625,000

11,706

11,706

$

(603,694)

61

$

21,306

905,000 166,600 1,071,600

1,115,400

11,706

Actual

$

$

1,115,400

11,706

Fund balances at beginning of year

$

1,115,400

Net change in fund balances

Fund balances (deficit) at end of year

985,000 130,400

Actual

Variance with Final Budget

1,071 ,600

11,706 $

625,000

$

11.706

FIDUCIARY

FUNDS

FIREFIGHTERS'

PENSION FUND

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS FIREFIGHTERS' PENSION FUND ST ATEMENT OF FIDUCIARY NET POSITION DECEMBER 31, 2014 WITH COMPARATIVE AMOUNTS FOR DECEMBER 31, 2013

2013

2014 ASSETS $

Cash Accrued interest receivable Investments: Debt issues: Corporate Foreign Municipal Equities Insurance contracts Mutual funds U.S. government agency notes U.S. Treasury notes Prepaid items Total assets

3,088,458 283,226

$

2,420,603 241,385

13,221,089 2,760,473 739,793 8,239,762 10,478,256 65,115,256 2,153,914 23,966,847 14,283

8,803,008 2,019,439 93,434 8,222,671 9,300,988 60,310,337 2,452,798 26,662,111 5,192

130.061,357

120.531.966

41,728 22.668

27,275 9.229

64,396

36.504

$ 129,996,961

$ 120,495,462

LIABILITIES Accounts payable Due to other funds Total liabilities

NET POSITION Net position restricted for pensions

62

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS FIREFIGHTERS' PENSION FUND STATEMENT OF CHANGES IN FIDUCIARY NET POSITION YEAR ENDED DECEMBER 31, 2014 WITH COMP ARA TIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31,2013

2013

2014 Additions: Contributions: Employer Plan members Other

$

3,386,334 1,214,057 50

$

2,719,548 1,200,751 100

Total contributions

4,600,441

3,920.399

Investment income Less investment expense

7,812,933 (241,839)

15,543,818 075,665)

Net investment income

7,571,094

15.368.153

Total additions

12,1 71,535

19,288,552

Deductions: Benefit payments Administrative expenses

2,571,284 98,752

2,100,363 118,412

Total deductions

2,670,036

2,218,775

Net increase in net position

9,50 I,499

17,069777

120,495,462

103,425,685

$ 129,996,961

$ 120,495,462

Net position at beginning of year Net position at end of year

63

RETIREE HEALTH INSURANCE

FUND

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS RETIREE HEALTH INSURANCE FUND STATEMENT OF FIDUCIARY NET POSITION DECEMBER 31, 2014 WITH COMPARATIVE AMOUNTS FOR DECEMBER 31, 2013

2014

2013

ASSETS Cash Due from other funds Investments: Debt issues: Corporate Mutual funds U.S. government agency notes

$

Total assets

$

8,563,418

$

8,721,268

$

8,563,418

$

8,721,268

62,625

$

503,212 7,645,084 352,497

252,190 1,235,000

7,234,078

NET POSITION Net position restricted for other post-employment

benefits

64

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS RETIREE HEALTH INSURANCE FUND STATEMENT OF CHANGES IN FIDUCIARY NET POSITION YEAR ENDED DECEMBER 31,2014 WITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 2013

2013

2014 Additions: Contributions: Employer

$

$

1.235.000

88,361 (32.275)

598,889 (41.029)

Net investment income

56.086

557.860

Total additions

56,086

1,792,860

Deductions: Benefit payments

213.936

336.795

Net increase (decrease) in net position

(157,850)

1,456,065

Net position at beginning of year

8.721.268

7,265,203

Investment income Less investment expense

$

Net position at end of year

65

8.563,418

$

8.721,268

STATISTICAL

SECTION

ORLAND FIRE PROTECTION DISTRICT, STATISTICAL SECTION DECEMBER 31, 2014

ILLINOIS

This part of the District'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 government's overall financial health. The section is divided into five sections as follows: Financial Trends - These schedules contain trend information to help the reader understand how the government's financial performance and well-being have changed over time.

Page 66-67 Net Position by Component 68-69 Changes in Net Position 70-71 Fund Balances of Governmental Funds 72-73 Changes in Fund Balances of Governmental Funds Revenue Capacity - These schedules contain information to help the reader assess the government's most significant local revenue source, the property tax.

Page 74-75 Schedule of Assessed Value and Estimated Actual Value of Taxable Property 76-77 Schedule of Assessed Valuations, Tax Rates, Extensions and Collections 78 Property Tax Rates - Direct and Overlapping Governments 79-80 Principal Property Taxpayers Debt Capacity - These schedules present information to help the reader assess the affordability of the government's current levels of outstanding debt and the government's ability to issue additional debt in the future.

Page 81-82 Outstanding Debt by Type 83 Ratios of General Obligation Debt Outstanding 84 Direct and Overlapping General Obligation Debt 85-86 Legal Debt Margin Information Demographic and Economic Information - These schedules contain demographic and economic indicators to help the reader understand the environment within which the government's financial activities take place.

Page 87-88 Demographic and Economic Statistics 89-90 Principal Employers Operating Information - These schedules contain service data to help the reader understand how the information in the government's financial report relates to the services the government provides and the activities it performs.

Page 91 Full-time Equivalent District Employees by Type 92 Operating Indicators by Function

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NET POSITION BY COMPONENT LAST TEN FISCAL YEARS

66

$

$

7,904,930

$

10,455,243

$

9,286,733

$

7,857,463

2005

2006

2007

2008

2009

2010

$

7,425,514

$

5,839,986

3,125,891

3,547,361

3,310,447

\,892,942

2,668,092

1,808,166

13,116,667

10,448,361

10,227,394

11,046,809

7,296,947

4,999,878

24,147,488

$

24,450,965

$

22,824,574

$

20,797,214

67

$

17,390,553

$

12,648,030

ORLAND FIRE PROTECTION DISTRICT, CHANGES IN NET POSITION LAST TEN FISCAL YEARS

$

Total primary government expenses

14,474,684 11,756,488 2,805,863 1,226,969

$

14,125,007 11,371,042 2,732,841 1,229,493

2011

2012

2013

2014 Expenses Governmental activities: Fire and rescue Emergency medical service General government Interest expense

ILLINOIS

$

14,444,780 11,520,507 3,729,040 204,252

$

13,933,133 10,759,192 3,855,197 251,746

30,264,004

29,458,383

29.898.579

28,799,268

406,948 2,795,513 177,663 78,912

363,134 2,789,402 165,695 64,944 20,000

347,549 2,237,371 216,431 164,190

354,354 2,053,625 151,561 79,036

Total primary government program revenues

3,459.036

3,403.175

2,965,541

2,638.576

Net (expense)/revenue Total primary government net expense

(26,804.968)

(26,055,208)

(26,93.3,Q38)

(26,160,692)

27,304,943 43,351 25,432

26,170,143 53,633 42,090

26,611,660 36,696 47,768

25,919,259 49,442 47,636

166,290

185,746

551;891

530,155

27,540,016

26.451,612

27.248.015

26,546.49-2

Program revenues Governmental activities: Charges for service: Fire and rescue Emergency medical service General government Operating grants and contributions Capital grants and contributions

General revenues and other changes in net position Governmental activities: Taxes: Property Personal property replacement Investment income Rental income Other income Total primary government general revenues Change in net position Total primary government

$

735,048

68

$

39(j,404

$

314,977

$

385,800

$

$

13,918,185 10,831,850 3,233,634 286,664

$

11,504,136 11,292,593 3,289,608 323,136

$

12,531,991 8,044,039 3,722,174 321,042

2006

2007

2008

2009

2010

$

10,943,319 8,392,569 2,204,848 283,397

$

10,448,488 8,093,054 1,025,839 127.377

2005

$

8,500,232 6,666,092 2,215,526 249,521

28,270,333

6,409,473

24,619,246

21,824.133

19,694,758

17,631,371

315,735 2,018,902 125,329 169,462

305,400 2,068,109 126,329 99,410

291,748 1,266,483 99,849 74,845

330,016 646,265 71,919 74,850

355,763 681,971

324,732 614,033

59,619

371,081

2,629.428

2,599,248

1,732,925

1,123,050

1,097,353

1,309,846

(25,640,905)

(23,810,225)

(22,886,321 )

(20,701,083)

(18,597.405)

(16,321,525)

24,473,283 48,831 61,362

25,099,514 45,287 72,820

24,404,824 53,682 378,131

23,057,944 54,494 893,718

753,952

218,995

77,044

10 1,588

22,544,357 46,078 558,557 88,373 102,563

20,664,254 42,928 223,223 85,972 97,106

25,337,428

25,436,616

24,913,681

24,107,744

23,339,928

21.113.483

(303,477)

$

1,626,391

$

2,027,360

$

3,406,661

69

$

4.742.523

$

4.791,958

ORLAND FIRE PROTECTION DISTRICT, FUND BALANCES OF GOVERNMENTAL LAST TEN FISCAL YEARS

Total General Fund

All other governmental funds: Reserved Unreserved Restricted Assigned Total all other governmental funds

Note:

$

8,761,514

$

22,420 7,398.484

24,705 6,651,877 6.676,582

$

$

9,305,067

7,420,904

$

8,101,238

s

9,683,620

$

$

$

$

$

8,829,142

458,540 2,082,129 831,788 6,305,163

5,315 1,810,994 684,302 6,804,456

157,416 1,68 L,296 1,197,863 5,792,567

177,149 1,937,709 375,449 6,271,207

$

$

$

$

2011

2012

2013

2014 General Fund: Reserved Unreserved Nonspendable Restricted Assigned Unassigned

ILLINOIS FUNDS

8-'.01,238

6,717,040 $

6,717,040

The District began to classify fund balances in accordance with the requirements of GASB 54 with the year ended December 31,2010.

70

$

2005

2006

2007

2008

2009

2010

$

2,158,895 8,138,241

$

2,009,745 7,746,835

$

1,402,139 9,230,029

$

559,903 7,129,834

$

417,103 5,559,846

s

10,297,136

$

9,756,580

s

10,632,168

$

7,689,737

s

5,976,949

$

1,220,121 9,509,945

$

2,720,495 9,732,715

$

2,054,995 10,697,837

$

1,272,320 2,846,283

$

1,286,405 2,060,178

$

10,730.066

$

12,453,2'10

$

12,752,832

$

4,118.603

$

3,346,583

341,371 1,798,986 538,714 6,332.368 $

9,01l,439

$

10389,995

$

10,389,995

71

ORLAND fIRE PROTECTION DISTRICT, ILLrNOIS CHANGES IN fUND BALANCES Of GOVERNMENTAL fUNDS LAST TEN fISCAL YEARS

Revenues: Property taxes Charges for service Grant proceeds Investment income Personal property replacement taxes Intergovernmental Other

$

27,304,943 3,380,124 77,662 25,432 43,351

$

26,170,143 3,318,231 84,944 42,090 53,633

20ll

2012

2013

2014

$

26,611,660 2,80 I,351 164,190 47,768 36,696

$

25,919,259 2,559,540 79,036 47,636 49,442

167.540

185.746

551.891

530.155

30.999,052

29.854.787

30.213,556

29.185,068

[7,369,632 448,998 58,366 2,759,945 3,386,334

[5,830,084 435,550 97,058 4,175,191 2,719,548

16,880,527 448,1\0 76,483 3,889,503 29,075,713

15,683,055 422,376 59,741 3,335,869 3,763,590

[25,532 672,367 7,453 2[3,293 624,681 57,241 128,406

99,074 627,651 6,236 138,365 890,085 49,400 142,410

85,622 663,404 10,830 224,558 433,251 50,684 137,943

148,303 479,043 8,834 157,547 456,367 64,144 123,953

144,013 1,027,019 804,890 353,277

116,816 1,128,657 724,519 279,739

95,871 1,181,120 669,776 222,812

88,753 977,041 478,999 304,954

1,534,998 1,222,763

1,325,000 1,188,476

1,858,330 258,440

2,027,616

1.037.187

860,000 198,850 452,153 265,701

3.516.503

Total expenditures

32,966.824

31.011.046

55.922.911

32.185.842

Excess (deficiency) of revenues over expenditures

( 1.967.772)

( I, 156.259)

(25,709.355)

(3,000,774 )

2,071,600 (2,07 1,600)

26,715,000 2,812,425 (2.812.425)

130,000 ( 130,000)

Total revenues Expenditures: Current: Personnel: Compensation and salaries Payroll taxes Education and seminars Health and life insurance Pension contribution Commodities: Training and education Heat, light, and power Operational supplies Postage and printing Protective clothing Repairs and maintenance Telephone Vehicle maintenance Contractual: Billing services Insurance Professional services Other Debt service: Principal Interest Bond / debt certi ficate issuance costs and fees Capital outlay

Other financing sources (uses): Installment contract Proceeds from debt issuance Transfers in Transfers out

1,155,822 1,125,000 ( 1,125.000)

Net change in fund balances

26,715.000

1.155.822

Total other financing sources (uses)

(811.950)

$

Debt service as a percentage of non-capital expenditures

9.79 %

72

$

( 1.156.259)

8.38 %

=

s

1.005.64-5

CJ.OOO.7741

2.71 %

6.95 %

$

$

22,544,357 \,\\5,542 59,6\9 558,557 46,078 6,230 429.7\\

$

20,664,255 \,006,068 371,08\ 223,227 42,928 8,875 391.1\3

753,952

762.922

27.966.856

28.579.791

26.999,820

25,568.978

24.760.094

22.707,547

14,382,321 385,472 75,123 4,568,289 3,030,592

13,954,484 380,756 91,441 4,640,198 2,541,961

12,358,943 326,633 79,852 5,425,750 3,073,319

11,627,35\ 272,820 69,052 2,774,237 2,270,452

\\ ,059,533 304,682 54,061 2,680,38\ 2,987,966

9,69\,026 221,494 40,148 2,490,264 1,718,657

129,751 448,580 31,880 113,170 875,240 62,008 123,402

120,917 562,270 39,036 142,649 505,452 57,032 74,812

7,494 135,884 533,132 7,629 116,994 707,277 67,377 124,986

4,3\5 123,919 541,934 10,175 \35,604 851,299 84,367 110,535

2,777 105,693 693,576 18,336 132,118 306,9\8 66,883 89,\88

2,978 85,674 281,511 6,758 77,538 327,181 50,449 66,893

92,959 1,377,183 367,445 276,883

103,297 1,060,402 321,747 291,004

40,882 1,091,137 415,159 223,843

31,303 1,108,913 440,070 305,939

31,554 1,087,870 297,41\ 289,000

32,526 958,638 217,538 137,633

850,554 298,333

799,116 310,844

2,500,000 260,297

4.670.961

590,000 273,108 79,725 377,477

1,540,000 136,537

2.103,439

660,000 321,726 50 2,456.963

390.802

938.517

29,592,624

30,668,379

28.\75.030

22,082.595

22,275.286

20,105.720

( 1.625.768)

(2.088,588)

(1,175.210)

3,486.383

2,484.808

2,601.827

2,575,975 (2,575.975)

906,000 1,855,000 ( 1.855.000)

1,320,000 ( 1.320,(00)

8,090,277 5,174 (5.174)

1,\56,947 ( I. I56.9~ 7)

136,000 (136.000)

$

25,099,514 2,499,838 99,410 72,820 45,287

$

8.090.277

906.000

s

23,057,945 1,048,200 74,850 893,7\8 54,494 \5,977 423.794

24,404,824 1,658,080 74,845 378,13\ 53,682 965 429,293

24,473,283 2,459,966 \69,462 61,362 48,83\

$

2005

2006

2007

2008

2009

2010

( 1.625.768)

( L.l82.5881

4.13 %

4.46 %

$

( I. I75.2\ 0)

3.97 %

$

II ,576.660

4.54 %

73

$

2,484.808

8.30 %

s

2.601.827

\6.82 %

=

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS SCHEDULE OF ASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY LAST TEN LEVY YEARS

Levy Year

Residential Properly

Commercial Property

Assessed Value Industrial Property

2013 2012 2011 2010 2009 2008 2007 2006 2005 2004

$ 1,535,459,711 1,624,500,909 1,761,730,402 2,061,365,996 2,060,640,966 1,886,724,268 1,708,768,401 1,599,048,504 1,546,073,930 1,296,116,607

$ 597,040,566 631,662,905 685,022,544 801,531,367 801,249,450 869,929,570 709,458,743 639,536,175 627,882,083 524,980,250

$ 114,982,236 121,650,047 131,926,418 154,364,500 154,310,206 183,446,572 166,868,345 162,636,923 161,002,677 147,670,792

Source: Office of the Cook County Assessor

74

Railroad Property

Farm Property $

349,582 369,854 401,097 469,316 469,151 787,568 737,880 741,526 837,103 931,699

$

386,107 408,498 443,006 518,352 518,170 407,715 354,862 300,730 237,360 213,577

Total Assessed Value $ 2,248,218,202 2,378,592,213 2,579,523,467 3,018,249,531 3,017,187,943 2,941,295,693 2,586,188,23 I 2,402,263,858 2,336,033,153 1,969,912,925

Estimated Actual Value

Total Direct Rate

$ 9,037,837,172 9,561,940,696 10,369,684,337 12,133,363,115 12,129,095,531 11,824,008,686 10,396,476,689 9,657,100,709 9,390,853,275 7,919,049,958

$1.2374 1.1263 1.0497 0.8782 0.8361 0.8507 0.9502 0.9741 0.9715 1.0622

75

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS SCHEDULE OF ASSESSED VALUATIONS, TAX RATES, EXTENSIONS AND COLLECTIONS DECEMBER 31,2014

Assessed valuation (1)

2013

2012

2011

2010

$ 2,248,218,202

s 2,378592,213

$ 2,579,523,467

$ 3,018,249,531.

0.4590 0.3686 0.1418 0.0000 0.1989 0.0068 0.0158 0.0014 0.045"1

0.5000 0.3000 0.0879 0.0000 0.1635 0.0087 0.0149 0.00l3 0.0500

0.4980 0.2710 0.0666 0.0000 0.1361 0.0129 0.0139 0.0012 0.0500

0.4192 0.2190 0.0653 0.0000 0.1131 0.0070 0.0110 0.0007 0.0429

l.2374

1.1263

1.0497

0.8782

Tax rates: Corporate Ambulance Tort liability Debt service Firefighters' pension Illinois Municipal Retirement Social Security Audit Fire and rescue Total Tax extensions: Corporate Ambulance Tort liability Debt service Firefighters' pension Illinois Municipal Retirement Social Security Audit Fire and rescue Total Collections: Current Subsequent Total

$

10,319,321 8,286,932 3,187,973 0 4,471,782 152,878 355,218 31,475 1,013,946

$

11,892,961 7,135,777 2,089,876 0 3,889,256 206,000 355,350 29,870 1,189,296

$

12,845,375 6,990,274 1,717,675 0 3,512,470 333,755 358,921 30,591 1,289,762

$

12,652,502 6,609,966 1,970,916 0 3,413,153 211,277 332,007 21,127 1,294,829

$

27,8 L9,525

$

26,788,386

$

27,078,823

$

26.505,777

$

26,987,031

$

25,898,953 392,789

$

26,193,587 201,981

$

25,578,918 420,904

$

26,987,031

$

26,291,742

$

26,395,568

s

25,999,822

Percent collected: Current Subsequent

97.01 %

96.68 % 1.47

96.73 % 0.75

96.50 % 1.59

Total

97.01 %

98.15 %

97.48 %

98.09 %

(1) Assessed valuation is as of the year preceding the fiscal year in which the taxes are levied.

(2) 2013 is the most current information available.

Data Source Office of the Cook County Clerk

76

2009

2008

2007

2006

2005

2004

$ J,017,187,943

$ 2.941.295,693

$ 2,586,) 88.23 I

$ 2,402,263 ,858

$ 2336,03,], I53

$ I,969.912.925

0.3981 0.2294 0.0572 0.0000 0.0948 0.0070 0.0098 0.0007 0.0391

0.4180 0.2370 0.0632 0.0000 0.0761 0.0067 0.0093 0.0007 0.0397

0.4288 0.2554 0.0791 0.0326 0.0973 0.0048 0.0108 0.0008 0.0406

0.4436 0.2661 0.0803 0.0302 0.0950 0.0058 0.0098 0.0010 0.0423

0.4136 0.2482 0.0810 0.0673 0.1049 0.0052 0.0094 0.0010 0.0409

0.4693 0.2783 0.0873 0.0771 0.0867 0.0057 0.0103 0.0010 0.0465

0.8361

0.8507

0.9502

0.9741

0.9715

1.0622

$

12,011,425 6,921,429 1,725,831 0 2,860,294 211,203 295,684 21,120 1.179,720

$

12,294,615 6,970,870 1,858,898 0 2,238,326 197,066 273,540 20,589 1.167.694

$

11,089,575 6,605,124 2,045,674 843,911 2,515,888 124,137 279,308 20,689 1,049,992

$

10,656,442 6,392,424 1,929,018 725,484 2,282,151 139,331 235,422 24,023 1,016,158

$

9,661,833 5,798,034 1,892,187 1,572,150 2,450,499 121,474 219,587 23,360 955,438

$

9,244,801 5,482,267 1,719,733 1,518,510 1,707,914 112,285 202,901 19,699 91,6,009

s

25,226,706

$

25,021,598

$

24,574,298

$

23,400,453

s

22,694,562

$

20:924,119

$

24,235,274 339,050

$

23,927,913 791,691

$

23,606,984 609,110

$

22,523,791 795,986

$

21,934,801 548,398

$

20,704,165 530,876

s

24,574,324

$

24,719,604

$

24,? 16,094

$

23,319,777

$

22,483,199

$

21,235,041

96.07 % 1.34

95.63 % 3.16

96.06 % 2,48

96.25 % 3,40

96.65 % 2.42

98.95 % 2.54

97.41 %

98.79 %

98.54 %

99.65 %

99.01 %

101.49 %

77

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS PROPERTY TAX RATES - DIRECT AND OVERLAPPING GOVERNMENTS LAST SEVEN YEARS

Levy year

2013

2012

2011

2010

2009

2008

2007

Overlapping governments: Cook County Cook County Forest Preserve District Consolidated Elections Bremen Township Bremen General Assistance Bremen Road and Bridge Orland Township Orland General Assistance Orland Road and Bridge South Cook Mosquito Abatement District Metropolitan Water Reclamation District Village of Orland Hills Village of Orland Hills SSA # I Village of Orland Park VilJage of Orland Park Library Fund Acorn Public Library District Orland Hills Public Library District Mokena Community Park Bond 2005 Tinley Park Park District School District 135 School District 140 School District 146 Consolidated High School 230 Moraine Valley Comm. College 524

0.560 0.069 0.031 0.078 0.016 0.050 0.070 0.007 0.039 0.016 0.417 0.400 0.250 0.675 0.303 0.202 0.162 0.051 0.493 3.187 4.779 5.456 2.641 0.375

0.531 0.063 0.000 0.070 0.014 0.045 0.066 0.007 0.037 0.014 0.370 0.369 0.235 0.638 0.279 0.192 0.149 0.049 0.455 3.212 4.399 5.041 2.438 0.346

0.462 0.058 0.D25 0.061 0.012 0.039 0.061 0.007 0.034 0.012 0.320 0.331 0.237 0.589 0.255 0.168 0.133 0.046 0.411 2.874 3.910 4.558 2.180 0.311

0.423 0.051 0.000 0.051 0.009 0.032 0.052 0.006 0.029 0.010 0.274 0.279 0.250 0.498 0.212 0.000 0.110 0.056 0.359 2.467 3.710 3.742 1.812 0.256

0.394 0.049 0.021 0.049 0.008 0.031 0.052 0.006 0.029 0.009 0.261 0.269 0.250 0.046 0.203 0.000 0.106 0.055 0.353 2.377 3.564 3.650 1.764 0.247

0.415 0.051 0.000 0.049 0.008 0.031 0.054 0.000 0.030 0.009 0.252 0.769 0.250 0.479 0.205 0.000 0.109 0.055 0.351 2.410 3.654 3.741 1.801 0.247

0.446 0.053 0.012 0.051 0.008 0.033 0.057 0.006 0.034 0.006 0.263 0.279 0.250 0.443 0.230 0.000 0.109 0.059 0.376 2.604 3.649 3.747 1.926 0.262

Total overlapping governments

20.327

19.019

17.094

14.688

13.793

14.970

14.903

1.237

I.l26

1.050

0.837

0.851

0.951

21.564

20.145

18.144

14.630

15.821

15.854

Orland Fire Protection District Totals

Overlapping

rates prior to 2007 are not currently available.

Source of information - Cook County Clerk's Office

78

_0.879 15.567

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS PRINCIPAL PROPERTY T AXP AYERS* DECEMBER 31,2014

Type of Business

Taxpayer Simon Property Group IRC J.C. Penney Co., Inc. Constance Oswald St. George Corp Sears MCRILLLC B & G Realty Legal Dept Cambridge Realty Captl Macy's Tax Department HSA-Orland I LLC Fields 15 DHC Tax and Target Prop Tax 842 Albertson's Prop. Tax Andrew Corp

Orland Square Mall (includes smaller stores) Shopping centers and one-story store Department store Commercial buildings, 2 or more stories Commercial buildings over three stories Department store Shopping center One story public garage/cinema Special commercial improvements Department store Shopping Center Department store Supermarket Microwave and earth station antennas, coaxial cable, and pressure equipment

Total

*The figures above are totals of parcels with equalized assessed valuation of$193,000 and over as recorded in the County Assessor's office. They were compiled from a meticulous page by page search of such records. It is possible, however, that certain parcels have been overlooked.

Source: Office of the Cook County Clerk

79

2013

2004

Taxable Assessed Value

Rank

Percentage of Total District Taxable Assessed Value

$ 113,741,630 46,997,304 11,724,327 10,843, III 10,681,062 9,390,599 9,098,418 8,215,010 7,671,369 7,036,751

1 2 3 4 5 6 7 8 9 10

5.21 % 2.15 0.54 0.50 0.49 0.43 0.42 0.38 0.35 0.32

$ 235.399.581

10.79 %

Rank

Percentage of Total District Taxable Assessed Value

65,077,814 22,895,563 13,306,554

1 2 6

3.91 % 1.38 0.80

12,461,881 12,530,976 9,925,878

8 7 10

0.75 0.75 0.60

21,841,130

3

1.31

16,364,117 13,831,446

4 5

0.98 0.83

11.183,154

9

0.67

Taxable Assessed Value $

$ 199.418.513

80

11.98 %

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS OUTSTANDING DEBT BY TYPE LAST TEN FISCAL YEARS

Fiscal

Yea r 2014

General Obligation Debt Certificates

General Obligation Bonds $

2,295,233

$

25,570,450

$

1,050,824

Fire Protection Notes

Notes Payable

Installment Contract

$

$

2013

3,289,091

26,000,737

2012

4,202,949

26,405,249

2011

5,071,807

2010

5,805,665

787,330

346,000

2009

6,479,693

865,884

453,000

2008

7,118,721

582,000

2007

7,637,757

732,000 877,000

2006 2005

1,017,000

1,400,000

Note: Details regarding the District's outstanding debt can be found in the notes to basic financial statements.

81

Total Primary Government $

Percentage of Personal Income

Per Capita

28,916,507

1.51%

29,289,828

1.53

445

30,608,198

l.34

408

5,071,807

0.22

68

6,938,995

0.30

93

7,798,577

0.34

104

7,700,721

0.34

103

8,369,757

0.37

112

877,000

0.04

12

2,417,000

0.11

32

$

439

82

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS RATIOS OF GENERAL OBLIGATION DEBT OUTSTANDING LAST TEN FISCAL YEARS

General Obligation Debt

Fiscal Year 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005

$

27,865,683 29,289,828 30,608,198 5,071,807 5,805,665 6,479,693 7,118,721 7,637,757 1,400,000

Less Amount Available in Debt Service Fund

Total $

$

822,203 816,352 789,461 752,868 706,531 1,051,356

27,865,683 29,289,828 30,608,198 5,071,807 4,983,462 5,663,341 6,329,260 6,884,889

Percentage of Estimated Actual Taxable Value of Property (1) 0.31 % 0.32 0.30 0.04 0.04 0.05 0.06 0.07

348,644

Note: Details regarding the District's outstanding debt can be found in the notes to basic financial statements.

(1)

See the Schedule of Assessed Valuations, Tax Rates, Extensions and Collections for property value data.

83

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS DIRECT AND OVERLAPPING GENERAL OBLIGATION DEBT DECEMBER 31, 2014

2013 Equalized Assessed Valuation Overlapping agencies: Cook County Cook County Forest Preserve Metropolitan Water Reclamation District Municipalities: Village of Homer Glen Village of Orland Park and Library Library Districts: Acorn Public Library District

$

Applicable to Di trict Amount Percent

Outstanding Debt $

125,587,659,532 125,914,838,942 123,419,543,828

3,578,905,000 124,455,000

(3)

1.591 % $ 1.591

56,940,379 1,980,079

2,481,971,593

(1)

1.624

40,307,219

853,963,921 2,063,847,959 (3)

498,453,013

Park Districts: Mokena Comm Park Bond District 2005 Tinley Park Park District

993,103,743 1,261,331,071

1,566,000 12,707,000

12.449 4.744

194,951 602,820

Schools: School District #135 School District # 146 High School District #230 Community College #524

1,952,763,563 599,895,414 4,418,997,672 9,303,736,891

8,915,000 (4) 23,190,000 48,190,000 74,400,000 (2)

90.757 24.697 46.054 21.903

8,090,987 5,727,234 22,193,423 16,295,832

Total overlapping general obligation debt Direct debt: Orland Fire Protection District

152,332,924

28,916,507

28,916,507

2,248,218,201

Total direct and overlapping general obligation debt

(1) (2) (3) (4)

$

181,249,431

Includes IEPA Revolving Loan Fund Bonds.

Includes original principal amounts of outstanding General Obligation Capital Appreciation Bonds.

Excludes outstanding principal amounts of General Obligation Alternate Revenue Source Bonds which are expected to be paid from sources other than general taxation.

Excludes outstanding debt certificates.

Note: Overlapping governments are those that coincide at least in part, with the geographic boundaries of the District. The schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses of the District. This process recognizes that, when considering the government's ability to issue and repay long-term debt, the entire debt burden borne by the residents and businesses should be taken into account. However, this does not imply that every taxpayer is a resident, and therefore responsible for repaying the debt, of each overlapping government.

Source:

Office of the Cook County Clerk, Cook County Department Reclamation District of Greater Chicago.

84

of Revenue,

and Treasurer

of the Metropolitan

Water

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS LEGAL DEBT MARGIN INFORMATION LAST TEN FISCAL YEARS

Legal Debt Margin Calculation for December 31,2014 $ 2.248,218,202

Assessed value Debt limit (5.75% of assessed value) Additional debt limit authorized

129,272,547

Total statutory debt limit

129,272,547

Debt applicable to limit

29,175,824 $

Legal debt margin

Debt limit Total net debt applicable to limit Legal debt margin Total net debt applicable to the limit as a percentage of debt limit

100,096,723

2014

2013

2012

2011

$ 129,272,547

$ 136,769,052

$ 148,322,599

$ 173,549,348

29,175,824

29,555,000

30,880,000

5,025,000

$ 100,096.723

$ 107,214.052

$ 117,442,599

$ 168,524,348

22.5692 %

21.6094 %

20.8195 %

2.8954 %

85

2010

2009

2008

2007

2006

2005

$ 173,488,307

$ 169,124,502

$ 148,705,823

$ 138,130,172

$ 134,321,906

$ 113,269,993

6,883.330

7,733,884

7,627,000

8.287,000

877,000

2,417,000

$ 166,604,977

$ 161.390,618

$ 141,078,823

$ 129,843;172

s lJ3,444,906

$ 110,852,993

3.9676 %

4.5729 %

5.1289%

5.9994 %

0.6529 %

2.1338 %

86

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS DEMOGRAPHIC AND ECONOMIC STATISTICS LAST TEN FISCAL YEARS

Personal Fist-'ll

Population

Income

Per Capita

Unemployment

Median

Year

(1)

(in thousands)

Income (1)

Rate

Age (1)

2014

65,879

4,265,599

$ 64,749

5.60 %

36.6

2013

65,879

2,396,283

36,374

6.70

36.6

2012

75,000

2,728,050

36,374

7.30

36.6

2011

75,000

2,728,050

36,374

8.20

36.6

2010

75,000

2,728,050

36,374

8.80

36.6

2009

75,000

2,285,025

30,467

10.60

41.4

2008

75,000

2,285,025

30,467

7.10

41.4

2007

75,000

2,285,025

30,467

3.00

41.4

2006

75,000

2,285,025

30,467

5.10

41.4

2005

75,000

2,285,025

30,467

5.10

41.4

Data Sources: (1) Derived from the U.S. Census Bureau (most recent data).

(2) Derived from Illinois State Board of Education School Report Cards.

N/ A - Information not available.

87

Education Level in Years of

School

Formal

Enrollment

chooling (1)

(2)

14

8,468

14

8,602

14

8,793

14

8,956

14

9,100

14

9,327

14

9,500

14

9,504

14

N/A

14

9,410

88

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS PRINCIP AL EMPLOYERS DECEMBER 31,2014

Taxpayer School District 135 Marquette Bank JewellOsco Food Store Rj b Properties, Inc High School District #230 Macy's J.C. Penney Darvin Furniture Lowe's Home Improvement Carson Pirie Scott Panduit Corporation The Horton Group Andrew Corporation Avenue, Inc. Joe Rizza Enterprises, Inc. Alliance Shippers, Inc. Terry's Lincoln Mercury, Inc.

Type of Business Elementary school (K-8) Full service bank Supermarket and drug store Janitor service High School (9-12) Retail department store Retail department store Furniture dealer - retail Home center Retail department store Manufacturer of communication and telecommunications products Insurance and financial consultants Communications systems and equipment General contractor Automobile dealership Train and truck shipping agency Motor vehicle sales and service

Note: Percentage of total District employment is based on the 2010 census and the 2000 census.

Note: 2013 is the most current information available.

Source: Phone survey

89

2013

2004

Approximate Number Emploved

Rank

Percentage of Total District Employmenl

745 600 500 400 374 360 325 301 300 300

I 2 3 4 5 6 7 8 9 9

2.68 2.16 1.80 1.44 1.35 1.29 1.17 1.08 1.08 1.08

300 300

9 9

1.08 1.08

Approximate Number Employed

Rank

Percentage of Total District ' mployme[Jt

750 175

2 6

2.97 0.69

316

3

1.25

310 170 1,200 250 ISO 100 75

4 7 I 5 8 9 10

1.23 0.67 4.76 0.99 0.59 0.40 0.30

90

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS FULL- TIME EQUIVALENT DISTRICT EMPLOYEES BY TYPE LAST SEVEN YEARS

2014

2013

2012

6 3 24 4

6 3 26 4

6 3 26 4

7

7

7

3 27 4

29 50 3

30 44 3

30 38 2

30 38 2

3 25 5 1 30 41 2

3 25 5 1 30 42 2

30 42 2

119

116

109

III

114

115

117

Sworn Personnel - Fill-in: Sworn Personnel - Fill-In

7

5

15

14

10

10

6

Total Sworn Personnel

126

121

124

125

124

125

123

8 4 14 1 1 1 5

8 3 15 2 1 2 4

8 5 15 2 1 1 4

7

5 L5 1 1 1 4

10 6 15 1 1 1 4

11 6 16 1 1 1 3

8 6

34

35

36

34

38

39

37

160

156

160

159

162

164

160

Sworn Personnel - Full-time: Chief Officers Program Supervisor Lieutenants Lieutenants/Paramedics Lieutenants/EMT -Bs Program Supervisor Engineers Engineers/Paramedics Firefighters/Paramedics Firefighters/EMT -Bs Total Sworn Personnel-

Full-Time

Support Services and Overtime: Administration Fire Prevention and Public Education Communications Training and safety EMS Specialty Teams Maintenance Total Support Services and Overtime Total

Source: District records Detail of personnel by employment type is not available prior to 2008.

91

2010

2011

2009

2008

9 3 26 4 I

17

1 1 1 3

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS OPERATING INDICATORS BY FUNCTION LAST SEVEN YEARS

Activity: Ambulance ALS Ambulance BLS Other Line trouble Fire alarm Mutual aid Citizens assist Vehicle accident Fire Service Total call volume

2014

2013

2012

2011

2010

2009

2008

2,992 2,193 682 676 577 524 514 439 336 183

2,760 2,096 637 731 536 535 365 450 268 121

2,804 2,063 589 616 555 530 411 383 294 148

2,490 2,018 685 634 565 612 275 434 253 149

2,417 1,864 540 706 532 596 475 442 258 206

2,357 1,847 473 745 614 524 513 399 218 277

2,177 1,869 964 707 771 247 566 461 253 267

9,116

8,499

8,393

8,115

8,036

7,967

8,282

Source: District records Operating indicators by function are not available prior to 2008.

92