Page 1

ORLAND FIRE PROTECTION DISTRICT, ILLINOIS COMPREHENSIVE

ANNUAL FINANCIAL REPORT

YEAR ENDED DECEMBER 31,2016

Submitted by: Kerry Sullivan Finance Director


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 2016

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

XII - XXII

Basic Financial Statements: Government-wide

Financial Statements:

Statement of Net Position - Governmental Activities Statement of Activities

2

Fund Financial Statements: Balance Sheet - Governmental Funds

3

Reconciliation of the Balance Sheet of Governmental of Net Position Statement of Revenues, Governmental Funds

Expenditures

and Changes

Funds to the Statement 4 111

Fund Balances

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

5 111

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

6

7 - 10


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 2016

CONTENTS

Statement

of Net Position

Statement

of Changes

Notes to Basic Financial Required

Supplementary

Firefighters'

and Individual

General

12

Funds

13 - 44

Plan

45 - 46

Retirement

Major Governmental

- Fiduciary

Statements

Retiree Health Insurance Combining

in Net Position

11

Funds

Information:

Pension

Illinois Municipal

- Fiduciary

Fund

47 - 49

Plan Fund Financial

50 Statements

and Schedules:

Funds:

Fund:

Combining

Schedule

of General

Fund Balance

Combining Schedule in Fund Balances

of General

Fund Revenues,

Corporate

Expend itures and Changes 52

Fund:

Balance

Sheet

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

51

Sheet Accounts

53 Encumbrances

and Changes

111

54 - 55

Fund: Sheet

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

56 Encumbrances

and Changes

111

57


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31, 2016

CONTENTS

Emergency

Rescue Fund:

Balance

Sheet

58

Schedule of Revenues, Expenditures, Fund Balances - Budget and Actual Ambulance

Fund:

Balance

Sheet

Balance

111

59 - 60

Encumbrances

and Changes

in Fund 62 - 63

Fund:

Sheet

64

Schedule of Revenues, Expenditures, Balances - Budget and Actual Nonmajor

and Changes

61

Schedule of Revenues, Expenditures, Balances - Budget and Actual Capital Projects

Encumbrances

Governmental

Encumbrances

and Changes

in Fund 65

Fund:

Debt Service Fund: Balance

Sheet

66

Schedule of Expenditures Actual Fiduciary

and Changes

III

Fund

Balances

- Budget

and

67

Funds:

Combining

Schedule

of Net Position

Combining

Schedule

of Changes

Firefighters'

Pension

- Fiduciary

in Net Position

Funds - Fiduciary

68 Funds

69

Fund:

Statement

of Net Position

70

Statement

of Changes

71

in Net Position


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT YEAR ENDED DECEMBER 31,2016

CONTENTS

Retiree Health Insurance Fund: Statement of Net Position

72

Statement of Changes in Net Position

73

STATISTICAL

SECTION

Net Position by Component

74 - 75

Changes in Net Position

76 -77

Fund Balances of Governmental Funds

78 -79

Changes in Fund Balances of Governmental Funds

80 - 81

Schedule of Assessed Value and Estimated Actual Value of Taxable Property

82 - 83

Schedule of Assessed Valuations, Tax Rates, Extensions and Collections

84 - 85

Property Tax Rates - Direct and Overlapping Governments

86 - 87

Principal Property Taxpayers

88 - 89

Outstanding Debt by Type

90 - 91

Ratios of General Obligation Debt Outstanding

92

Direct and Overlapping General Obligation Debt

93

Legal Debt Margin Information

94 - 95

Demographic and Economic Statistics

96 - 97

Principal Employers

98 - 99

Full-time Equivalent District Employees by Type

100 - 101

Operating Indicators by Function

102 - 103


INTRODUCTORY

SECTION


ORLAND FIRE PROTECTION DISTRICT Administration Center 9790 West 151st Street • Orland Park, IL 60462 708/349-0074 ISO Cla')s 2

• Fax 708/349-0354

www.orlandfire.org

Board f!fTrustees: President Christoplm Evo.\' Secretary Craig Schmidt 111'usIITl'l-ja)''IU! Schinnachci Trustee [ohn Bruduak Pres. Pro Tem Trustee In/1l~s Hi(litf)'

Fire ail{ Midwtd Sdwfield

June 20, 2017 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, 2016. 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 MPSICP A, 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 designed 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, 2016, are free of material misstatement. The independent audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. The independent auditor concluded, based upon the audit, that there was a reasonable basis for rendering an unqualified opinion that the District's financial statements for the year ended December 31, 2016 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.


The District had to implement Governmental Accounting Standards Board Statement 68, Accounting and Financial Reporting for Pensions in 2015. The entity-wide statements reflected, for the first time, the total actuarial pension obligation of the District. The implementation of Statement 68 had a significant impact on the financial statements. It is very important to note that the District's ending fund balance (excluding the Pension Fund and the Retiree Health Trust Fund) as of December 31,2016 was $16,119,557, the Firefighter's Pension Fund had year-end net position of$141,716,651 and the District has set aside $7,428,183 to fund future retiree health costs. 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 adj acent 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 Trust 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.

11


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. 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 the District to lessen 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, and includes program budgets with supplemental detail of each line item. 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 on pages 62 and 64. 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. 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 Metra's commuter rail system. The District has a diverse composition and economic base. Approximately 68% of the District's equalized assessed valuation (EA V) is related to residential development, 31% is related to commercial development and 1% is related to industrial development. The 2015 tax year EA V

111


was $2,129,625,597. In the 2014 tax year, the District's EAV was $2,190,698,277. This 2.8% decrease is due, in large part, to the equalization factor issued by the Illinois Department of Revenue being reduced by 2.0%. 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 Park Place Mall, Orland Crossings, and Orland Towne Center along with numerous smaller retail centers. Major Initiatives for 2016 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 2016, District firefighters and paramedics responded to 9,960 calls, a 7.5% increase over 2015. Approximately 63.2% of these calls were for emergency medical services. The number of emergency medical service calls increased by 890 calls. Call volume to local assisted living facilities, nursing homes and rental units continued to increase in 2016. 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 2016. A number of significant projects are discussed more thoroughly below. •

A new ambulance and Battalion Chief s vehicle was placed in service.

Cardiac monitors were replaced in all ambulances and ALS engines.

Roofs were replaced at Stations 2 and 4.

Major Initiatives for the Future Major initiatives for 2017 include maintaining adequate firefighter staffing levels to meet response benchmarks, continued focus on training and safety and operational efficiencies. Capital plans for apparatus, building improvements, information technology and communications are being reviewed.

IV


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. 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 eight 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 ofthis report. We sincerely appreciate and acknowledge the support and direction provided by the accounting firm of MPSICPA, 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,

~.

~~-ÂŁ Fire Chief

v


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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, 2015

Executive Director/CEO

VI


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I

I

]

I

I

I

r

I

& Fleet Officer

I

Building Maint. Tech.

[

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I

[

,

I

I

I

I Fire

Prevent. Inspector

I Pub. Ed. Coordinator

I

I

I

I Tellecommunicators

I Dispatch Director

I

Admin. & Op. Battalion Chief

Fire Chief/Chief Administrator

IFire Prevention Officer I

IT Technician

Finance Assistant

Finance Dir.

IFleet Maint. Technicians'

I

I Finance Director I Assistant

IGrounds

Receptionist

PR Representative

,

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Board of Trustees

Residents

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I HR Director

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FF/Paramedics

Engineers

Lieutenants

,

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I

Executive Assistant

I Station Battalion Chiefs

Training Officer

I

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1I

1

Board of Fire Commissioners

HR Assistant

EMS Officer

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Organizational Chart

.1

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,


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NAMES AND TITLES OF PRINCIPAL OFFICIALS DECEMBER 31,2016

Board of Trustees7 Mr. Christopher G. Evoy - President Mr. Blair Rhode - Secretary Mrs. Jayne Schirmacher - Treasurer Mr. John Brudnak - Member Mr. James P. Hickey - Member

Fire Chief Michael Schofield

Finance Director Kerry Sullivan

VIII


FINANCIAL

SECTION


Certified Public Accountants & Trusted Advisors

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 December 31, 2016, 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, 2016, 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 irivolves 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 ofthe entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

IX

P: 708-349-69991

F: 708-349-6639114300

Ravinia Ave., Orland Park, IL 604621 mpscpa.com


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 3 I, 2016, 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. 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 xxii and employee retirement and post-employment benefit plan information on pages 45 through 50 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, 2015, 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, 2015 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 2015 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 2015 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 20, 2017

XI


MANAGEMENT'S

DISCUSSION

AND ANALYSIS


MANAGEMENT'S DISCUSSION AND ANALYSIS as of and for the fiscal year ended December 31, 2016

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, 2016. Financial

Highlights

The liabilities and the deferred inflows of the District exceeded its assets and deferred outflows of resources at the close of the most recent fiscal year by $2,386,177 (net deficit). Of this amount, $16,986,770 is invested in capital assets and $2,696,270 is restricted for various purposes and, therefore, is not available for funding general activities. The District has an unrestricted deficit of $22,069,217 at December 31, 2016. The total net position of the District decreased by $274,137 during fiscal year 2016 due primarily to the amortization of deferred outflows in excess of deferred inflows of the Firefighters Pension Fund and IMRF and the increase in long term liabilities of post employment health benefits.

For the fiscal year ending December 31, 2016, total governmental revenues and other financing sources exceeded expenditures and other financing uses by $870,713. Revenue increased by 4.6% over prior year, including 1.9% increase in property taxes, 20.4% increase in charges for services, and recognition of $240,494 of grant proceeds. Charges for services increased due to increased rescue fees (314.3%), increased ambulance fees (20%), and revenue for dispatching for an additional fire department. Rescue fees were a new revenue source; ambulance fees increased due to a new fee schedule and increased call volume. Expenditures only increased 1.3% over prior year.

As of December 31, 2016, the District's governmental funds reported combined ending fund balances of $16,119,557. Approximately 35% of this amount ($5,555,772) is available for spending at the District's discretion (unassigned fund balance).

At the end of the current fiscal year, unrestricted fund balance (the total of the committed, assigned and unassigned components offund balance) for the General Fund was $6,184,940, or approximately 33% of total General Fund expenditures. Unrestricted fund balance for the Ambulance Fund was $6,455,582, or approximately 61 % of Ambulance Fund expenditures.

At December 31, 2016, the Firefighters Pension Fund had a net position of $141,716,651 with a funding ratio of 94.18%. Pension benefits paid in 2016 were $3,997,213. IMRF had a funding ratio of 89.74%.

The District's Retiree Health Trust Fund had a net position of $7,428,183 as of December 31, 2016. Benefits paid from the Retiree Health Trust Fund were $823,422 in 2016.

The District's long-term liabilities liabilities, 61% is related to debt unfunded liabilities of the pension to post employment benefits and contract.

at December 31,2016 totaled $39,850,405. Of the long-term certificates which were issued in 2012 to fund the actuarial funds, 24% is related to net pension liabilities, 13% is related compensated absences, and 2% is related to an installment

xii


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. 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. All 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.

xiii


The District adopts an annual appropriated budget for its funds. A budgetary comparison statement has been provided for the General and Ambulance Funds to demonstrate compliance with the budget. The basic fund financial statements can be found on pages 3 - 10 of this report.

Fiducit:r7'11 Funds. 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 method used for fiduciary funds is 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. 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 - 44 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 45 - 50 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 supplementary information on pensions and OPEB. These statements and schedules can be found on pages 51 - 73 of this report.

XIV


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, the liabilities and deferred inflows of the District exceeded its assets and deferred outflows of resources at the close of the most recent fiscal year by $2,386,177 (net deficit). Orland Fire Protection District Statement of Net Position - Governmental Activities as of December 31, 2016 and 2015 2015

2016 Assets: Current and other assets Capital assets Total assets

$

Deferred outflows of resources: Deferred outflows of resources related to pensions

45,721,406 17,817,573 63,538,979

$

44,225,340 17.734,778 61,960,118

8,938,559

10,654,579

1,263,823 39.850.405

Lia bilities: Current liabilities Noncurrent liabilities Total liabilities

41.114,228

990,733 41,849,865 42.840,598

Deferred inflows of resources: Property taxes levied for future periods Deferred inflows of resources related to pensions Total deferred inflows of resources

28,380,975 5,368,512 33,749.487

28,031,116 3.855.023 31,886.139

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

s

Assets Cash, investments, receivables and prepaid items are current assets. These assets are available to provide resources for the near-term operations of the District. The maj ority of the current assets are the results of the property tax collection process; the District received 96.3 8% of the annual property tax assessment for 2015 in 2016. It is expected a similar collection rate will occur for 2016 taxes collected in 2017.

xv


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. An investment of $17,817,573 in land, improvements, buildings, apparatus, vehicles and equipment, to provide the services to the District's residents, represents 28% of the District's total assets. Ddel'red Oulflmlls o[Resour' es Deferred outflows of resources related to pensions, which are further explained on page 31 of this report (the actuarial effect of changes of assumptions plus the difference between projected and actual earnings on pension investments), was recorded in 2016 in the amount of $8,938,559. Of this total, $8,167,087 is related to the Firefighters' Pension Fund and $771,472 is related to the Illinois Municipal Retirement Fund. 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, which include the Series 2012 General Obligation Debt Certificates, compensated absences payable, net pension liabilities, and the other post-employment benefits obligation, will be liquidated from resources that will become available after fiscal year 2017.

l2Jif.yl'red inflows o[Resoul'ces Unavailable revenue, in the form of assessed 2016 property taxes to be collected after fiscal year 2016, totaled $28,380,975 at year end. Deferred inflows of resources related to pensions, which are further explained on page 31 of this report and includes the difference of actuarial expectation and actual experience, was recorded in 2016 in the amount of $5,368,512. Of this total, $5,080,940 is related to the Firefighters' Pension Fund and $287,572 is related to the Illinois Municipal Retirement Fund. Net Position The liabilities and deferred inflows of resources of the District exceeded assets and deferred outflows of resources, resulting in a net deficit of $2,386,177. Total net position of the District does not include internal balances.

xvi


Statement of Activities The following chart shows the revenue and expenses of the District's activities during 2016 and 2015. Orland Fire Protection District Statement of Activities for the Years Ended December 31, 2016 and 2015

2015

2016 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

4,305,984 240,494

$

27,922,833 62,650 29,929 231.708

27391 827 43937 26420 285,'166

32,793,598

31,334,173

16,145,307 12,703,385 3,099,171 1,119,872

15,789,071 12,633,953 3,028,790 1,178,919

33,067,735

32,630,733 (1,296,560)

(274 137)

Changes in Net Position

(815,480)

(2,112,040)

Net deficit, beginning of year

$

Net deficit, end of year

3,576,817 10,006

(2, 112,O!OJ

Governmental activities decreased the District's net position by $274,137. Key elements contributing to this net change are summarized below. Revenue: For the year ending December 31, 2016, total revenue from governmental activities increased by $1,459,425, or 4.6%. Total program revenues, which include charges for services as well as operating and capital grants, increased by $959,655, or 26.8%. The increase in charges for services is primarily related to an increase in ambulance rates and call volume, but also due to increased capture of rescue fees and dispatch service fees for an additional fire department.

xvii


General revenues, which includes property taxes, personal property replacement taxes, investment income, and other income increased by $499,770, or 1.8%, due mostly to the increase in property taxes received. f.!,xp onses: Expenses from governmental activities increased by $437,002 (1.3%). mainly to increased personnel costs offset by cost control measures.

The increase was due

Fire and rescue expenses were 2.3% higher than prior year due mainly to increased personnel costs. Emergency Medical Service costs were only 1% higher than prior year. General government expenses were 2.3% higher than 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 $16,119,557, an increase of $870,713 compared to the prior year. Of the total, $68,764 is considered nonspendable because it has been used for prepaid items. 17%, or $2,731,182, of the total is restricted due to external limitations on its use. These uses include emergency rescue ($484,692), tort immunity ($2,081,796), and municipal retirement / social security ($164,694). 48%, or $7,763,839, has been assigned, meaning there are limitations on its intended use. The assigned uses include general government ($67,880), tort immunity purposes ($219,644), emergency rescue purposes ($341,644), ambulance services ($6,455,582), capital projects ($658,183), and debt service ($20,906). The remaining 35%, or $5,555,772, is unassigned. The General Fund and Ambulance Funds are the main operating funds of the District. General Fund At the end of the current fiscal year, unassigned fund balance of the General Fund was $5,555,772, while total fund balance of the General Fund was $8,951,158. 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 2016 were $18,590,060. Unassigned fund balance represents 30% of these General Fund expenditures, while total fund balance represents 48% of that same amount. Budgetary highlights for the General Fund follow.

xviii


Orland Fire Protection District General Fund Budgetary Highlights For the Fiscal Year Ending December 31,2016

Budget Revenues Property taxes Charges for services Other Total

Percentage of Actual to Budget 99.4% 153.5% 189.2% 101.7%

14,402,783 994,695 1,333,873 289,774 1,637,078 18,658,203

(355,655) 255,458 164,533 32,122

102.5% 79.6% 89.0% 90.0%

96,458

99.5%

1,353,404

1,783,399

429,995

(1,206,000)

(1,206,000)

$ 19,338,433 631,226 471.943 20,441,602

14,047,128 1,250,153 1,498,406 321,896 1.637,078 18,754,661

Excess of Revenues over Expenditures

Variance with Budget (109,028) 220,109 222,456 333,537

$ 19,447,461 411,117 249,487 20,108,065

Expenditures and Encumbrances Personnel Commodities Contractual Other Debt service Total

Other Financing Transfers out

Actual

$

Uses

Net Change in Fund Balance

$

1474 4

$

429,995

General Fund revenues in the amount of $20,441,602 were l.7% more than anticipated. 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. Charges for services were 53.5% higher than anticipated due to increased rescue fees. Rescue fees were a relatively new revenue source at budget preparation and therefore the budget was estimated conservatively. Positive trend is anticipated to continue. Other revenues were 89.2% higher than anticipated because the District recognized approximately $240,000 of grant revenue. Ambulance Fund Ending fund balance of the Ambulance Fund is restricted for the costs of emergency medical services and an allocation of administrative costs. At the end of the current fiscal year, restricted and assigned fund balance of the Ambulance Fund was $6,489,310. Fund balance represents 61% of the Ambulance Fund expenditures. Budgetary highlights for the Ambulance Fund follow.

xix


Orland Fire Protection District Am bulance Fund Budgetary Highlights For the Fiscal Year Ending December 31, 2016

Budget Revenues Property taxes Charges for services Other Total

$

Expenditures and Encumbrances Personnel Commodities Contractual Other Total

8,300,000 3,019,261 83,942 11,403,203

9,033,637 991,406 390,748 290,401 10,706,192

Net Change in Fund Balance

$

Percentage of Actual to Budget

Variance with Budget

Actual 8,584,400 3,674,758 91,832 12350,990

284,400 655,497 7,890 947,787

103.4% 121.7% 109.4% 108.3%

(229,854) 214,376 3,545 87,027 75,094

102.5% 78.4% 99.0% 70.0% 99.3%

$

9,263,491 777,030 387,203 203,374 10,631,098

1 2288J

01 I

Ambulance Fund revenues in the amount of $12,350,990 were 8.3% greater than anticipated revenues. Charges for services were 21.7% higher than anticipated due to increased rates and call volume. Ambulance Fund expenditures in the amount of $1 0,631 ,098 were 0.7% less than budgeted. Capital Assets The District's investment in capital assets for its governmental activities as of December 31, 2016 amounts to $17,817,573. The District's investment in capital assets increased by $82,795, 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. Orland Fire Protection District Capital Assets (net of accumulated depreciation) December 31, 2016 and 2015 2015

2016 $

Land Buildings and improvements Apparatus and vehicles Equipment

410,330 12,445,181 4,431,933 530,129

$

410,330 12,188,475 4,587,134 548,839

s

Total capital assets

Additional information on the District's capital assets can be found in the notes to financial statements, see page 26.

xx


Long-term

Liabilities

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 $24,735,000 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 2016. Orland Fire Protection District Long-term Liabilities December 31, 2016 and 2015 2016 Bonds payable Debt certificates Installment contract Compensated absences Net pension liabilities Other post-employment benefits obligation

$

2015

o 24,486,426 830,803 1,344,442 9,493,686 3,695,048

$

1,171,375 25,065,938 942,519 1,377,698 11,021,121 2,272,214

.$

Total long-term liabilities

Additional information on the District's long-term liabilities can be found in the notes to financial statements, see pages 39 - 42. Economic Factors and Next Year's Budget and Rates The District's primary revenue source is property taxes, representing approximately 85.2% 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 2017 is $32,245,115. Property taxes are assumed to increase for existing property by the Consumer Price Index and for new construction property. With Ordinance 2016-2, the District abated its Debt Service levy for tax year 2016. 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 2017 are $32,100,897. 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 2017 budget includes maintaining staffing levels, improving information technology and communications, replacing vehicles, and the purchasing of other specialized equipment.

xxi


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, Illinois 60462

xxii


BASIC FINANCIAL

STATEMENTS


GOVERNMENT-WIDE

FINANCIAL

STATEMENTS


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS STATEMENT OF NET POSITION - GOVERNMENTAL ACTIVITIES DECEMBER 31, 2016

ASSETS $

Cash and investments Receivables, net of allowance for uncollectibles: Property taxes Accounts Prepaid items Capital assets not being depreciated: Land Capital assets, net of accumulated depreciation: Buildings and improvements Apparatus and vehicles Equipment

15,310,728 28,380,975 1,960,939 68,764 4 J 0,330 12,445,181 4,431,933 530,129 63,538,979

Total assets DEFERRED

OUTFLOWS

OF RESOURCES 8,938,559

Deferred outflows of resources related to pensions LIABILITIES

1,263,823

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

1,343,588 38,506,817 41,114,228

Total liabilities DEFERRED

INFLOWS

OF RESOURCES

Property taxes levied for future periods Deferred inflows of resources related to pensions

28,380,975 5,"68,512

Total deferred inflows of resources

33,749.487

NET POSITION

(DEFICIT) 16,986,770

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

See notes to basic financial statements.

2,081,796 484,692 129,782 (22,069,217) $

(2,386,177)


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS STATEMENT OF ACTIVITIES YEAR ENDED DECEMBER 31, 2016

Program Charges for Service

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

Revenues Capital Grants and Contributions

Net (Expense) Revenue and Change in Net Position

$

16,145,307 12,703,385 3,099,171 L119,872

$

549,943 3,527,863 228,178

$

240,494

$ (15,354,870) (9,175,522) (2,870,993) OJ 19,872)

$

33,067,735

$

4305,984

$

240,494

(28,521.257)

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

27,922,833 62,650 29,929 231,708 28.247.120

Total general revenues

(274,137)

Change in net position (deficit)

(2,112,040)

Net position (deficit) at beginning of year $

Net position (deficit) at end of year

See notes to basic financial statements. 2

(2,386,177)


FUND FINANCIAL

STATEMENTS


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS BALANCESHEET-GOVERNMENTALFUNDS DECEMBER 31, 2016

Capital Projects

Ambulance

General

Nonmajor Governmental Fund

Total Governmental Funds

$

$

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

$

13,282,474

$

$

2,028,254

8,487,340 1,546,890 5,238,263

19,893,635 414,049 1,013,552 68,764

15,310,728 28,380,975 1,960,939 6,272,721 68.764

20,906

$

51.994.127

$

1.013.552

568,031 652,843 6.272.721

1.370.071

7,493,595

$

34,.672..474

$

15.272.49'3

$

2.028,254

$

195,059 373,453 5.259.169

$

16,453 279,390

$

356,519

20.906

LIABILITIES Accounts payable Accrued expenditures Due to other funds Total liabilities

DEFERRED

$

5.827,681

21)5.843

1YJslJ .635

8.487.340

28.380.975

68,764 2,697,454 629,168 5,555.772

33,728 6,455,582

658,183

20,906

68,764 2,731,182 7,763,839 5,555.772

8.951.158

6.489.310

58.183

20,906

16.119,557

20.906

51.99-1.127

INFLOWS OF RESOURCES

Unavailable revenue - property taxes

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

$

34.672.4 711.

s

See notes to basic financial statements. 3

15.272.493

$

2.028.254

$


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION DECEMBER 31, 2016

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.

16,119,557

17,817,573

Long-term liabilities 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: (24,735,000) (830,803)

General obligation debt certificates Installment contract Unamortized amount: Issuance discount Compensated absences Net pension liabilities Other post-employment benefits obligation

248,574 (1,344,442) (9,493,686) (3,695,048) (39,850,405)

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.

(42,949)

Deferred outflows and inflows of resources related to pensions are applicable to future periods and, therefore, are not reported in the funds. Deferred outflows and inflows of resources related to pensions at year-end are as follows: $

Deferred outflows related to pensions Deferred inflows related to pensions

8,938,559 (5,368,512) 3.570.047

Total $

Net position (deficit) of governmental activities

See notes to basic financial statements. 4

(2,386.177)


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS YEAR ENDED DECEMBER 31, 2016

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

Ambulance

$

8,584,400 3,674,758

$

17,483 37,873 36.476

1,008

20.441.602

12.350.990

1.008

8,863,729 6,619,621 1,469,632

5,210,126 4,618,450 750,285

Nonmajor Governmental Fund

Total Governmental Funds

$

$

32.793.600

111,716 29,685

1,160,000 46,400

903,608 502,557

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

18,590,060

10,578,861

1,547,566

1.206.400

1.851.542

1,772.129

( 1,546.558)

( 1.206.400)

1,206,000

(1,206.000)

Net change in fund balances Fund balances at beginning of year $

1,866,716 1,118,163 903,608 502,557

( 1.206.000)

Total other financing sources (uses)

27,922,833 4,305,984 240,494 29,929 62,650 231,710

14,073,855 11,238,071 2,219,917

595,000 1,042,078

Total expenditures

Fund balances at end of year

19,338,433 631,226 240,494 11,438 24,777 195,234

Capital Projects

31.922.887

870.713

1,206,000 ( 1.206.000)

1,206,000

645,542

1,772,129

(1,546,558)

8.305,616

4,717,181

2.204,741

21,306

15.248.844

658.183

2ll.906

16.'119.557

8.951.158

$

See notes to basic financial statements. 5

6.489.310

s

(400)

870,713


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 31,2016

Amounts repol1ed for governmental activities in the statement of activities are different because: Net change in fund balances - total governmental funds

$

870,713

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 ($1,128,571) exceeded depreciation ($1,045,776) in the current period.

82,795

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

1,866,716

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 of issuance premium Amortization of issuance discount

$

11,375 (15,488) (tl,113)

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.

2,404

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

33,256

Governmental funds report statement of activities, the This is the amount by contributions in the current

District pension contributions as expenditures. However, in the cost of pension benefits earned is reported as pension expense. which pension benefits earned exceeded District pension period.

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

(1,703,074)

benefits obligation increases long-term liabilities (1,422.834 )

Change in net position (deficit) of governmental activities

See notes to basic financial statements. 6

$

(274,137)


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 31,2016

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 Payro II 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 Contractual: Billing services Insurance Professional services Other Debt service: Principal Interest Total expenditures and encumbrances

$

19,447,076 411,117 9,254 17,144 223,089 20.107,680

$

19,447,461 411,117 9,254 17,144 223,089 20,108.065

$

19,338,433 631,226 240,494 11,438 24,777 195.234 20,441.602

Variance with Final Iludget

$

(109,028) 220,109 240,494 2,184 7,633 (27.855) 333.537

9,156,123 196,128 248,625 1,982,783 2,719,249

9,156,192 196,307 248,625 1,726,755 2,719,249

9,573,656 196,553 95,327 1,708,704 2,828,543

(417,464) (246) 153,298 18,051 (109,294)

109,367 365,101 3,332 80,817 420,048 22,938

109,367 373,990 3,332 80,817 659,709 22,938

76,978 321,001 314 70,714 499,881 25,807

32,389 52,989 3,018 10,103 159,828 (2,869)

1,196,767 301,639 66,599

1,196,767 301,639 321,896

1,014,198 319,675 289,774

182,569 ( 18,036) 32,122

595,000 1.042.078

595,000 1.042.078

595,000 1,042,078

18.506,594

18.754.661

18,658,203

See notes to basic financial statements.

7

96,458


Page 1 of2

Ambulance Final Budget

Original Budget

$

8,300,000 3,019,261 14,146 26,206 43.590

$

8,300,000 3,019,261 14,146 26,206 43.590

$

Fund Variance with Final Budget

Actual

8,584,400 3,674,758

$

284,400 655,497

17,483 37,873 36A76

3,337 11,667 (7.114)

11A03.203

11A03.203

12.350.990

947.787

7,101,464 258,315 57,664 1,613,453

7,101,395 261,135 57,664 1,613,443

7,392,293 260,840 24,563 1,585,795

(290,898) 295 33,101 27,648

165,634 199,638 6,045 61,584 493,563 35,062

165,634 214,405 6,045 61,584 508,676 35,062

116,745 224,473 571 54,681 341,111 39,449

48,889 (10,068) 5,474 6,903 167,565 (4,387)

130,000

130,000

87,000

43,000

261,972 290,401

260,748 290,401

300,203 203,374

(39,455) 87,027

10.674.795

10.706.192

10.631.098

75.094

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 31,2016

General Fund Final Actual Budget

Original Budget Excess of revenues over expenditures and encumbrances Other financing uses: Transfers out

1,601,086

1,353,404

1,783,399

( I ,206,000)

(l,206.000)

( 1.206.000)

Variance with Final Budget

429,995

429,995

395,086

147,404

577,399

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

8,245,939

8,245,939

8.245.939

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

8,641,025

8,393,343

8,823,338

429,995

127.820

127,820

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)

$

8,641,025

See notes to basic financial statements. 9

$

8.393.343

$

8.951.158

$

557,815


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS STATEMENT OF CHANGES IN NET POSITION - FIDUCIARY YEAR ENDED DECEMBER 31, 2016

Additions: Contributions: Employer Plan members Other

$

FUNDS

2,828,543 1,185,562 8,077 4,022,182

Total contributions Investment income Less investment expense

11,061,889 (242,935)

Net investment income

10,818,954

Total additions

14,84L136

Deductions: Benefit payments Administrative expenses

4,820,635 103,780 4,924A15

Total deductions Increase in net position

9,916,721 139,228,113

Net position at beginning of year

$ 149,144,834

Net position at end of year

See notes to basic financial statements. 12


NOTES TO BASIC FINANCIAL STATEMENTS


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

I.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A.

Description of Government-wide

Financial Statements

The government-wide financial statements (i.e., the statement of net posrtion and the statement of activities) report information on all of the nonfiduciary activities of the Orland Fire Protection District, Illinois (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 businesstype 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 31,2016

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 m~jor 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 service. 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 general 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 financial statements these amounts are reported fund financial statements, certain eliminations financial statements. Transfers between the funds

involving transfers of resources between funds. In fund at gross amounts as transfers in/out. While reported in are made in the preparation of the government-wide included in governmental activities are eliminated.

14


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

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 focus and the accrual basis of 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 of 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 service, 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 measurement focus and the accrual basis of 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 funds 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, 2016

The District statements:

follows these procedures

111

establishing

the budgetary

data reflected

111

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 31,2016 was adopted through the passage of ordinance number 2015-03 on November 17,2015, and was subsequently amended through the passage of ordinance number 2016-17 on December 13,2016. 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 appropriations as adopted for each fund are as follows: General Fund: Corporate Subfund Tort Liability Subfund Emergency Rescue Subfund Ambulance Fund Capital Projects Fund Debt Service Fund

$

16,515,991 3,418,543 1,132,737 12,102,141 1,634,475 1,386,900

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, 2016 totaled $194,971. The following funds had an excess of actual expenditures/encumbrances for the year ended December 31, 2016: Budget

Fund

General subfund: Corporate Fund Debt Service Fund

$

14,695,129 1,206,000 16

over the working budget amount

Variance

Actual

$

14,809,368 1,206,400

$

114,239 400


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

The overexpenditure in the Corporate Fund was funded by greater than anticipated overexpenditure in the Debt Service Fund was funded by available fund balance. G.

Assets, Liabilities, Deferred Outflows/Inflows

I,

Investments

of Resources, and Net Position/Fund

revenues. The

Balance

Investments are reported at fair value. 2.

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. 3.

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 Iife are not capital ized. Major outlays for capital assets and improvements are capitalized as projects are constructed. Bui Idings and improvements, apparatus, vehicles, and equipment are depreciated using the straight-line method over the following estimated useful lives: Years Bu iIdings and improvements Apparatus Vehicles Equipment

17

50 10-20

5 10


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

4.

Deferred Outflows/Inflows of Resources

In addition to assets, the financial statements 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. The District has one item that qualifies for reporting in this category in the statement of net position. It is the deferred outflows of resources related to pensions (see Notes ILE.l and 2 for further discussion of deferred outflows of resources related to pensions). In addition to liabilities, the financial statements 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 two types of items that qualify for reporting in this category. One item, unavailable revenue, is reported in the government-wide statement of net position and the governmental funds balance sheet. The District reports unavailable revenues from one source property taxes. These amounts are deferred and will be recognized as an inflow of resources in the period in which the amounts become available. The other item, deferred inflows of resources related to pensions, is reported in the statement of net position (see Notes ILE.1 and 2 for further discussion of deferred inflows of resources related to pensions).

5.

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 term 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 are reported as expenses in the periods in which they are incurred. In the fund financial statements, governmental fund types report the face amount of the debt issued 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. Bond issuance costs are reported as debt service expenditures.

6.

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.

18


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

7.

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. 8.

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 a resolution prior to the end of the fiscal year, commit fund balance. Once adopted, the limitation imposed by the resolution 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. H.

Revenues and Expenditures/Expenses

1.

Program Revenues

Amounts reported as program revenues include I) charges to individuals or entities 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 for specific purposes, and other internally dedicated resources are reported as general revenues rather than as program revenues.

]9


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

2.

Property Taxes

Property taxes are levied as of January 1 on property values assessed on the same date. The tax levy is divided into two billings: the first billing (mailed on or about February I) is an estimate of the current year's levy based on the prior year's taxes; the second billing (mailed on or about August I) reflects adjustments to the current year's actual levy. The billings are considered 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. The District receives significant distributions of property tax 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 assets 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.

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, 2016, $2,257,221 of the District's bank balances of $15,352,028 was uninsured and collateralized with securities held by the pledging financial institutions. As of December 31, 2016, bank balances of the Firefighters' Pension Fund and the Retiree Health Insurance Fund were fully insured.

20


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

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. Illinois Compiled Statutes (lLCS) require 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. 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. The Firefighters' Pension Fund is also subject to foreign currency risk: Foreign currency risk - the investment policy of the Firefighters' Pension Fund does not specifically define foreign currency risk. At December 31, 2016, the Firefighters' Pension Fund's investment portfolio contained $2,481,688 of foreign currency-denominated corporate bonds that were rated between AAA and BBB- by Standard & Poor's Ratings, and between Aaa and Baa3 by Moody's Investors Service and $110,849 of foreign currency-denominated equities.

B. Fair Value Measurements The Firefighters' Pension Fund and Retiree Health Insurance Fund categorize their fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are significant unobservable inputs. The Firefighters' Pension Fund and Retiree Health Insurance Fund had the following recurring fair value measurements as of December 31,2016: Debt issues, U.S. government agency obligations, U.S. Treasury notes, and other pooled fixed income investments - Valued using pricing models maximizing the use of observable inputs for similar securities. This includes basing value on yield currently available on comparable securities of issuers with similar credit ratings.

23


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

Equities - Valued at quoted market prices for identical assets in active markets. Mutual funds - Valued at the daily closing price as reported by the fund. Mutual funds held by the Firefighters' Pension Fund and Retiree Health Insurance Fund are open-end mutual funds that are registered with the Securities and Exchange Commission. These funds are required to publish their daily net asset value (NA V) and to transact at that price. The mutual funds held by the Firefighters' Pension Fund and Retiree Health Insurance Fund are deemed to be actively traded. Separate account - Valued at NA V of units held, as reported by the manager of the separate account. The NAVis used as a practical expedient, and the estimated fair value is subject to uncertainty and therefore may differ from the value that would have been used had a readily available market for this investment existed, and the difference could be material. The following table summarizes the investments of the Firefighters' Pension Fund and Retiree Health Insurance Fund for which fair values are determined on a recurring basis as of December 31, 2016: Quoted Prices in Active Markets for Identical Assets (Levell) Firefighters' Pension Fund: Debt issues: Corporate Foreign Municipal Equities: Domestic Foreign Mutual funds: Equities U.S. government agency obligations U.S. Treasury notes Total investments in the fair value hierarchy

Significant Observable Inputs (Level 2)

$

$

18,455,989 2,481,688 1,107,448

Significant Unobservable Inputs CLevel3)

$

18,455,989 2,481,688 1,107,448

3,672,738 16,624,015

69,368449 3,672 738 16,624,015

42,341,878

121,580,944

69,368,449

Separate account - measured at net asset value (*) Total investments at fair value

$

9,759,768 110,849

9,759,768 110,849

79,239,066

Fair Value

12,175,698

$ 79,239,066

24

$ 42,341.878

$~==~=

$ 133,756,642


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2016

Quoted Prices in Active Markets for Identical Assets (Level 1) Retiree Health Insurance Fund: Debt issues: Corporate Mutual funds: Bonds Equities Other pooled fixed income investments U.S. government agency obligations Total investments at fair value

*

Significant Observable Inputs (Level 2)

$

$

802,641

Significant Unobservable Inputs (Level 3)

$

Fair Value

$

1,494,043 3,469,512 1,181,247 421,986

1,494,043 3,469,512 1,181,247 421,986

$

1.494,043

$

2,405,874

802,641

$

$

7.369,429

In accordance with GASB 72, the separate account that was measured at NA V per share has not been classified in the fair value hierarchy. The fair value amount presented in this table is intended to permit reconciliation of the fair value hierarchy to the statement of net position - fiduciary funds.

The Firefighters' Pension Fund's separate account investment is in an open-end, commingled real estate equity account established by Principal Life Insurance Company that invests in a diversified mix of primarily high quality, well-leased real estate properties in the multifamily, industrial, office, retail and hotel sectors. Redemptions are subject to a withdrawal limitation, which was last utilized in 2008. C.

Receivables

The allowance for uncollectible collection experience.

ambulance

accounts

25

receivable

of $190,000

is based on previous


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

D. Capital Assets Capital asset activity for the year ended December 31, 2016 was as follows: Beginning Balance Governmental activities: Capital assets, not being depreciated: Land

$

410,330

Increases

;:0:.$

Ending Balance

Decreases / Adjustments

Je$

~

$

410,330

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

16,368,217 10,695,287 2,682,781

595,989 449,112 83.470

16,964,206 11,144,399 2,766.251

Total capital assets, being depreciated

29,746.285

1,128,571

30,874,856

4,179,742 6,108,153 2,133,942

339283 604313 ] 02.180

4,519,025 6,712,466 2,236.122

Total accumulated depreciation

12,421.837

1,045,776

13.467,613

Total capital assets, being depreciated, net

17,324.448

82,795

L7.407,243

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

Governmental activities capital assets, net

$ 17,734,778

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

26

$

82,795

as follows:

$

546,063 382,300 117.413

$

1,045,776

$

$ 17,817,573


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

E.

Pension and Post-Employment Benefit Obligations

The District maintains the Firefighters' Pension Fund, which covers its qualified sworn employees, and participates in the statewide Illinois Municipal Retirement Fund, which covers substantially all of the remaining qualified District employees. The District also maintains a post-employment benefit plan (Retiree Health Insurance Plan). The information presented in the following notes is the most current information available as of December 31, 2016.

1.

Firefighters' Pension Plan

Description of Plan. The Firefighters' Pension Plan is a single-employer defined benefit retirement plan that is administered by the Firefighters' Pension Fund's board of trustees. The Firefighters' Pension Fund's 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 defined benefits and employee and employer contribution levels are governed by Illinois Compiled Statutes (40 ILCS 5/4-1) and may be amended only by the Illinois legislature. The Firefighters' Pension Plan issues a publicly available financial report that includes financial statements and required supplementary information. The report may be obtained at the Plan's administrative office, located at 9790 West 151st Street, Orland Park, Illinois, 60462.

Benefits Provided. The Firefighters'

Pension Plan provides retirement benefits as well as death and disability benefits. Tier 1 employees (those hired 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 at the date of retirement. 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 ten 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 covered employee who retired with 20 or more years of service after January 1, 1977 shall be increased annually, following the first anniversary date of retirement 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 1,2011) 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 112 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 ten years of service may retire at or after age 50 and receive a reduced benefit (i.e., 112% for each month under 55). The monthly benefit of a Tier 2

27


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2016

firefighter shall be increased annually at age 60 on the January 1st after the firefighter retires, or the first anniversary of the pension starting date, whichever is later. Non-compounding increases occur annually, each January thereafter. The increase is the lesser of 3% or 112 of the change in the Consumer Price Index for the preceding calendar year. Plan Membership. following:

At December 31, 2016, the Firefighters' Pension Plan's membership consisted of the

Inactive Plan members currently receiving benefits Inactive Plan members entitled to but not receiving benefits Active Plan members

60 2 113 175

Total

Contributions. Employees are required by Illinois Compiled Statutes (ILCS) to contribute 9.455% of their base salary to the Firefighters' Pension Plan. If an employee leaves covered employment with less than 20 years of service, accumulated employee contributions may be refunded without accumulated interest. The District is required to contribute the remaining amounts necessary to finance the Firefighters' Pension 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, 2016, the District's contribution was 22.95% of covered payroll. Net Pension Liability. The District's net pension liability was measured as of December 31, 2016. The total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date using the following actuarial assumptions, applied to all periods included in the measurement: Actuarial cost method - Entry-age Inflation - 2.5% Salary increases - 4.5 - 32.3% Investment rate of return - 7.0%, compounded annually, net of pension plan investment expense, including inflation Asset valuation method - Market Mortality rates were based on the actuary's 2016 Illinois Firefighters' Mortality Rates. Retirement rates were based on the actuary's 2016 Illinois Firefighters' Retirement Rates capped at age 65, with a 50% rate at 26 years of service. Disability Rates and Termination Rates were based on the actuary's 2016 Illinois Firefighters' Disability and Termination Rates, respectively.

28


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2016

The actuarial assumptions used in the December 31, 2016 valuation were based on the results of an actuarial experience study for the period January 1,2016 - December 31,2016. 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, 2016 (see the discussion ofthe Firefighters' Pension Plan's investment policy) are summarized in the following table:

Portfolio Target Allocation

Asset Class

40 %

Domestic equity Fixed income International equity Real estate Global tactical

35 15 7 3

Long-Term Expected Real Rate of Return 6.0 % 1.5 6.3 5.9 4.1

100 % Single Discount Rate. A single discount rate of 7.0% was used to measure the total pension liability. The projection of cash flows used to determine the discount rate assumed that employee 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 employee 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.

29


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

Changes in the Net Pension Liability. Changes in the District's net pension liability for the year ended December 31,2016 were as follows:

Balances at December 31, 2015 Changes for the year: Service cost Interest on the total pension liability Differences between expected and actual experience Changes in assumptions Net investment income Contributions - employees Contributions - employer Contributions - other Benefit payments, including refunds of employee contributions Administrative expense

Total Pension Liability (a)

Increase (Decrease) Plan Fiduciary Net Position (b)

$ 141.667,594

$ 131.400,063

Net Pension Liability (a) - (b) $

3,299,938 9,776,829

3,299,938 9,776,829

10,391,899 1,185,562 2,828,543 8,077

(929,789) 653,006 (10,391,899) (1,185,562) (2,828,543) (8,077)

(3,997,213) (100.280)

100.280

8,802,771

10,316,588

(LSI3,817)

$ 150.470,365

$ 141.716,651

(929,789) 653,006

(3,997,213 )

Net changes Balances at December 31, 2016

10,267,531

$

8,753,714

The change in assumptions amount of $653,006 was primarily the result of changes in demographic assumptions based on a study of firefighters and fire pension funds in Illinois, offset by a reduction in the total payroll growth assumption.

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 of7.0%, as well as what the District's net pension liability would be if it were calculated using a discount rate that is 1.0 percentage-point lower (6.0%) or 1.0 percentage-point higher (8.0%) than the current rate:

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

$

32,975,661

30

Current Discount Rate (7.0%) $

8,753.714

1% Higher (8.0%) $ (10,770,961 )


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2016

Plan Fiduciary Net Position. Detailed information about the Plan's fiduciary net position is available in other locations in this report as the Plan is reported as a fiduciary fund of the District as well as in a separately issued financial report of the Plan. Pension Expense, Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions. For the year ended December 31, 2016, the District recognized pension expense of $4,057,099. At December 31, 2016, the District reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Inflows of Resources

Deferred Outflows of Resources $

$

Differences between expected and actual experience Changes of assumptions Net difference between projected and actual earnings on Plan investments

4,123,716

3,201,553 957.224

4,965,534 $

Total

8,167.087

$

5,080,940

Amounts reported as deferred outflows of resources and deferred inflows of resources will be recognized in pension expense in years ending December 31 as follows:

2.

2017 2018 2019 2020 2021 Thereafter

$

1,269,058 1,269,058 1,269,055 (386,121) (146,815) ( 188.088)

Total

$

3,086,147

Illinois Municipal Retirement 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 managed by the Illinois Municipal Retirement Fund (IMRF), the administrator of a multi-employer public pension fund. A summary of IMRF's pension benefits is provided in the "Benefits Provided" section of this document. Details of all benefits are available from IMRF. 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 Comprehensive Annual Financial Report that includes financial statements, detailed information about the pension plan's fiduciary net position, and required supplementary information. The report is available for download at www.imrf.org.

31


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

Benefits Regular selected prior to District

Provided. IMRF has three benefit plans. The majority of IMRF members participate in the Plan. The Sheriffs Law Enforcement Personnel (SLEP) plan is for sheriffs, deputy sheriffs, and police chiefs. Counties could adopt the Elected County Official (ECO) plan for officials elected August 8, 2011 (the ECO plan was closed to new participants after that date). Employees of the who are eligible to participate in the plan participate in the RP.

All three IMRF benefit plans have two tiers. Employees hired before January 1,2011, are eligible for Tier 1 benefits. Tier 1 employees are vested for pension benefits when they have at least eight years of qualifying service credit. Tier 1 employees who retire at age 55 (at reduced benefits) or after age 60 (at full benefits) with eight years of service are entitled to an annual retirement benefit, payable monthly for life, in an amount equal to 1-2/3% of the final rate of earnings for the first 15 years of service credit, plus 2% for each year of service credit after 15 years to a maximum of75% of their final rate of earnings. Final rate of earnings is the highest total earnings during any consecutive 48 months within the last 10 years of service, divided by 48. Under Tier 1, the pension is increased by 3% of the original amount on January I every year after retirement. Employees hired on or after January 1,2011, are eligible for Tier 2 benefits. For Tier 2 employees, pension benefits vest after ten years of service. Participating employees who retire at age 62 (at reduced benefits) or after age 67 (at full benefits) with ten years of service are entitled to an annual retirement benefit, payable monthly for life, in an amount equal to 1-2/3% of the final rate of earnings for the first 15 years of service credit, plus 2% for each year of service credit after 15 years to a maximum of 75% of their final rate of earnings. Final rate of earnings is the highest total earnings during any 96 consecutive months within the last 10 years of service, divided by 96. Under Tier 2, the pension is increased on January 1 every year after retirement, upon reaching age 67, by the lesser of: • •

3% of the original pension amount, or 112of the increase in the Consumer Price Index of the original pension amount.

Employees Covered by Benefit Terms. As of December 31, 2016, the following employees were covered by the benefit terms: Retirees and beneficiaries currently receiving benefits Inactive Plan members entitled to but not yet receiving benefits Active Plan members

9

11 24 44

Total

Contributions. As set by statute, the District's plan members are required to contribute 4.5% 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 District's annual required contribution rate for calendar year 2016 was 8.39%. 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's Board of Trustees, while the supplemental retirement benefits rate is set by statute.

32


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

Net Pension Liability. The District's net pension liability was measured as of December 31, 2016. The total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. Actuarial Assumptions. The following are the methods and assumptions used to determine the total pension liability at December 31, 2016: • • • • • •

The Actuarial Cost Method used was Entry Age Normal. The Asset Valuation Method used was Market Value of Assets. The Inflation Rate was assumed to be 2.75% (approximate; no explicit price inflation assumption is used in the valuation). Salary Increases were expected to be 3.75% to 14.50%, including inflation. The Investment Rate of Return was assumed to be 7.50%. Projected Retirement Age was from the Experience-based Table of Rates, specific to the type of eligibility condition, last updated for the 2014 valuation according to an experience study from years 2011 to 2013. The IMRF-specific rates for Mortality (for non-disabled retirees) were developed from the RP2014 Blue Collar Health Annuitant Mortality Table with adjustments to match current IMRF experience. For Disabled Retirees, an IMRF-specific mortality table was used with fully generational projection scale MP-2014 (base year 2014). The IMRF-specific rates were developed from the RP-20 14 Disabled Retirees Mortality Table, applying the same adjustments that were applied for non-disabled lives. For Active Members, an IMRF-specific mortality table was used with fully generational projection scale MP-2014 (base year 2014). The IMRF-specific rates were developed from the RP-20 14 Employee Mortality Table with adjustments to match current IMRF experience. 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 to the target asset allocation percentage and adding expected inflation. The target allocation and best estimates of geometric real rates of return for each major asset class are summarized in the following table:

33


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

Portfolio Target Percentage

Asset Class

38 % 27 17 9 8

Domestic equity Fixed income International equity Alternative investments Real estate Cash equivalents

1

Long-Term Expected Real Rate of Return 6.85 % 3.00 6.75 2.65-7.35 5.75 2.25

100 %

Total

Single Discount Rate. A single discount rate of7.50% was used to measure the total pension liability. The projection of cash flows used to determine this single discount rate assumed that the plan members' 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 District's IMRF 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.

Changes in the Net Pension Liability. Changes in the District's net pension liability for the year ended December 31,2016 were as follows:

34


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31,2016

Total Pension Liability (a) Balances at December 31, 2015 Changes for the year: Service cost Interest on the total pension liability Differences between expected and actual experience Changes in assumptions Net investment income Contributions - employees Contributions - employer Benefit payments, including refunds of employee contributions Other changes

6,947,829

$

$

6,195,241

$

752588 230,787 523,546

(331,605) (10,631) 428,716 92,824 173,065

(331,605) (10,631) (428,716) (92,824) (173,065)

(146,570) (269,892)

269,892

278.143

(]2,616)

265,527 $

Net Pension Liability (a) - (b)

230,787 523,546

(146,570)

Net changes Balances at December 31, 2016

Increase (Decrease) Plan Fiduciary Net Position (b)

7,213,356

~

6,473.384

$

739,972

Sensitivity of the Net Pension Liability to Changes in the Discount Rate. The following presents the net pension liability of the District calculated using a single discount rate of 7.50%, as well as what the net pension liability (asset) would be if it were calculated using a single discount rate that is l-percentagepoint lower (6.50%) or 1-percentage-point higher (8.50%) than the current rate:

1% Lower (6.50%) District's net pension liability (asset)

$

1.894,223

Current Discount Rate (7.50%) $

739,972

1% Higher (8.50%) $

(197,956)

Plan Fiduciary Net Position. Detailed information about the Plan's fiduciary net position is available in the separately issued IMRF financial report.

Pension Expense, Deferred Outflows of Resources, and Deferred Inflows of Resources Related to Pensions. For the year ended December 31,2016, the District recognized pension expense of $647,584. At December 31, 2016, the District reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

35


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

Deferred Inflows of Resources

Deferred Outflows of Resources $

Differences between expected and actual experience Changes of assumptions Net difference between projected and actual earnings on Plan investments

328,446 123,741

$

278,639 8,933

$

287,572

319,285 $

Total

771,472

Amounts reported as deferred outflows of resources and deferred inflows of resources will be recognized in pension expense in years ending December 31 as follows:

3,

2017 2018 2019 2020 2021 Thereafter

$

175,181 175,181 158,424 29,365 (39,999) (14,252)

Total

$

483,900

Summary of Pension Information

For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the Firefighters' Pension Plan (FPP) and the Illinois Municipal Retirement Fund (IMRF) and additions to/deductions from the Plans' fiduciary net position have been determined on the same basis as they are reported by the Plans. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. Pension-related assets, deferred outflows of resources, liabilities, deferred inflows of resources, and pension expense/expenditures are summarized as follows:

Deferred outflows of resources Net pension liability Deferred inflows of resources Pension expense Pension expenditures

$

36

8,167,087 8,753,714 5,080,940 4,057,099 2,828,543

Total

IMRF

FPP $

771,472 739,972 287,572 647,583 173,065

$

8,938,559 9,493,686 5,368,512 4,704,682 3,001,608


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

4.

Retiree Health Insurance Plan

Plan Description. The Retiree Health Insurance Plan (RHIP) 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 2016, the District contributed $0 to the plan. Plan members receiving benefits contributed $0. At December 31, 2016, $7,428,183 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 30 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 liability: Annual required contribution Interest on net OPEB asset Adjustment to annual required contribution

$

1,313,054 124,972 (15,192)

Annual OPEB cost Contributions made

1,422,834

Increase in net OPEB liability Net OPEB liability at beginning of year

1,422,834 2,272,214 $

Net OPEB liability at end of year

37

3,695,048


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

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

Fiscal Year Ended 12/31116 12/31115 12/31114

$

Percentage of AnnualOPEB Co t Contributed 0.00 % 0.00 0.00

1,422,834 1,315,020 1,249,736

NetOPEB Liability $

3,695,048 2,272,214 957,194

Funded Status and Funding Progress. As of December 31, 2014, the most recent actuarial valuation date, the plan was 38% funded. The actuarial accrued liability for benefits was $22,721,458, and the actuarial value of assets was $8,563,418, resulting in an unfunded actuarial accrued liability (VAAL) of $14,158,040. The covered payroll (annual payroll of active employees covered by the plan) was $17,102,343, and the ratio of the VAAL to the covered payroll was 83%. 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. In the December 31, 2014 actuarial valuation, the entry age normal actuarial cost method was used. The actuarial assumptions included a 5.50% investment rate of return (net of administrative expenses), a 3.00% inflation rate, and an annual healthcare cost trend rate of 7.00% initially, reduced by decrements to an ultimate rate of 5.00% after four years. The VAAL is being amortized as a level percentage of projected payroll on an open basis. The remaining amortization period at December 31, 2014 was 30 years.

38


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

F.

Interfund

Receivables

and Payables

Individual interfund receivable and payable balances at December 31,2016 were as follows: Amount

Payable Fund

Receivable Fund

Capital Projects Fund General Fund General Fund

General Fund Ambulance Fund Nonmajor governmental fund Total

$

1,013,552 5,238,263 20,906

$

6,272,721

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

Interfund

Transfers Amount

Transfer out

Transfer in

1,206,000

$

General Fund

Nonmajor governmental fund

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.

H.

Long-term

Liabilities

Long-term liability activity for the year ended December 31, 2016 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 Net pension liabilities: Firefighters' Pension Fund Illinois Municipal Retirement Fund Other post-employment benefits obligation Total

$

1,160,000 11,375

$

$

Ending Balance

Reductions/ Adjustments

Additions

(1,160,000) (11,375)

$

$

795,088

(595,000) 15,488 (111,716) (828,344)

24,735,000 (248,574) 830,803 1,344,442

10,267,533 752,588

4,057,099 647,583

(5,570,918) (660,199)

8,753,714 739,972

2.272.214

1.422.834

25,330,000 (264,062) 942,519 1,377,698

$ 41,849,865

s

6,922.604

39

Due Within One Year

680,000 115,235 548,353

3,695,048 $

(8,922,064)

$

39,850.405

$

1.343588


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

The debt service of the 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 schedules of the long-term debt outstanding at December 31, 2016 are as follows: General Obligation Debt Certificates General obligation debt certificates, which were used to prepay pension and other post-employment benefit obligations, are direct obligations and pledge the full faith and credit of the District. December 15th December 15th and June 15th 1.00% - 4.95% The Bank of New York Mellon Trust Co. Chicago, Illinois $26,715,000

Principal due each year Interest dates Interest rates Paying agent Total original issue

Total Due

Interest Due

Principal Due

Year Ending December 31, 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032

$

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

$

1,030,773 1,016,153 997,410 973,759 944,328 909,018 867,543 819,910 766,285 707,973 640,573 565,043 468,023 363,083 250,223 129,195

$

1,710,773 1,781,153 1,857,410 1,938,759 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

$

24,735,000

$

11,449,292

$

36.184.292

40


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

Installment Contract The District entered into an installment contract for two Pierce Impel pumpers. Payments under the contract, including interest at 3.15%, are due as follows: Interest Due

Principal Due

Year Ending Decem ber 3 1,

Total Due

2017 2018 2019 2020 2021

$

115,235 118,865 122,608 126,470 347,625

$

26,166 22,536 18,793 14,931 930

$

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

Total

$

830,803

$

83.356

$

914.159

The annual requirements to amortize all outstanding debt as of December 31,2016 are as follows: Principal Due

Year Ending December 31,

Total Due

Interest Due

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

$

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

$

1,056,939 1,038,689 1,016,203 988,690 945,258 909,018 867,543 819,910 766,285 707,973 640,573 565,043 468,023 363,083 250,223 129,195

$

1,852,174 1,922,553 1,998,811 2,080,160 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

$

25,565,803

$

11,532,648

$

37,098.451

41


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

The legal debt margin of the District as of December 31, 2016 is determined as follows: Assessed valuation - 2015 tax year (most current valuation available)

$

2,129,625,597

Statutory debt limitation (5.75% of assessed valuation)

$

122,453,472 25.317,229

Total debt outstanding $

Legal debt margin I.

97,136,243

Fund Balances

As of December 31,2016, fund balances were comprised of the following:

Nonspendable: Prepaid items

$

Restricted: Emergency rescue Municipal retirement/Social Security Tort immunity

$

$

Total Nonmajor Governmental Governmental Funds Fund

$

$

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

130,966 2,081.796

33,728

164,694 2,081,796

2,697.454

33,728

2,731,182

658,183 20,906 6,455,582 341,644 67,880 219,644 6.455.582

629,168

Total assigned

20,906

658,183

$

8,951.158

658,183 20,906 6,455,582 341,644 67,880 219,644 7,763,839 5.555,772

5,555,772

Unassigned

68,764

484,692

484,692

Total restricted

Total

68,764

Capital Projects Fund

Ambulance Fund

General Fund

$

6.489.310

42

$

658,183

$

20,906

$ 16,119,557


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

J.

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, 2016, 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: Assigned Fund Balance General Fund Ambulance Fund Total

$

127,820 67,151

$

194,971

K. 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 entity 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.

L.

Tort Immunity Expenditures

Tort immunity expenditures for the year ended December 31, 2016 are summarized as follows: Property and liability insurance Risk management personnel costs Professional services Other Total

43

$

1,014,198 1,626,883 133,307 73,743

$

2,848,131


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS NOTES TO BASIC FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2016

M. Labor Concentrations The sworn and certain non-sworn personnel of the District are covered by collective bargaining agreements that expire on December 31, 2018.

N. Contingent Liabilities The District is a defendant in various lawsuits. Although the outcome of these lawsuits is not presently determinable, in the opinion ofthe District's management, the resolution ofthese matters will not have a material adverse effect on the financial condition of the District. The District is an intervenor in approximately 80 appeals before the Property Tax Appeal Board filed by property taxpayers within the District's boundaries. If the District is unsuccessful in defending the assessed valuations of the properties, it would have to refund property taxes based on the difference in assessed value for the period that the taxpayer's challenge is granted through. The outcome of these challenges to the assessed valuations of properties within the District is not presently determinable.

O. Subsequent Events Management has evaluated subsequent events through June 20, 2017, which is the date the financial statements were available to be issued.

44


REQUIRED

SUPPLEMENTARY

INFORMATION


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS REQUIRED SUPPLEMENTARY INFORMATION FIREFIGHTERS' PENSION PLAN LAST TEN CALENDAR YEARS (SCHEDULES TO BE BUILT PROSPECTIVELY)

SCHEDULE OF CHANGES IN THE DISTRICT'S NET PENSION LIABILITY

Total pension liability: Service cost Interest on the total pension liability Differences between expected and actual experience Changes in assumptions Benefit payments, including refunds of employee contributions

$

Net change in total pension liability

Plan fiduciary net position: Contributions - employer Contributions - employee Other Net investment income Benefit payments, including refunds of member contributions Administrative expense

8,802,77]

8,132,233

14,490,471

$

$

2,828,543 1,] 85,562 8,077 10,391,899

3,293,073 1,150,791

]] 9.044.8 0 $ 133,535.361

$

8]0,920

3,386,334 ],2] 4,057 50 7,571 ,094

(3,997,213) (] 00,280)

(3,766,976) (84,706)

(2,571,284) (98,752)

10,316,588

1,403,102

9,501,499

] 29.996,96]

120,495,462

$ 141,7]6.65]

$ ]31.400,063

$ ]29.996.961

$

$

$

8,753,714

94.]8 % $

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

°

(2.57] .284)

$ ]41.667,594

Plan fiduciary net position as a percentage oftotal pension liability payroll

4,557,023 8,401,468 2,655,0] ],448,254

(3.766.976)

131.400.063

District's net pension liability at end of year

$

(3.997,213)

$ ]50,470.365

Plan fiduciary net position at beginning of year Plan fiduciary net position at end of year

3,587,]9] 9,2] 5,633 (4,397,221) 3,493,606

]33.535.36]

Net change in plan fiduciary net position

Covered-employee

$

]41.667.594

Total pension liability at beginning of year Total pension liability at end of year

3,299,938 9,776,829 (929,789) 653,006

2014

2015

2016

12,325,486

71.02 %

10,267,53]

97.35 %

92.75 % $

]2,277,252

83.63 %

3.538.400

$

] 1.338.333

31.21 %

Notes to Schedule: Changes in Assumptions. The change in assumptions amount of $653,006 in 20]6 and $3,493,606 in 2015 was primarily the result of changes in demographic assumptions based on a study of firefighters and fire pension funds in Illinois. The change in assumptions amount of$],448,254 in 20]4 was primarily the result of using the entry age cost method. In 20] 3, the projected unit credit cost method had been used for the actuarial valuation.

45


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS REQUIRED SUPPLEMENTARY INFORMATIONFIREFIGHTERS' PENSION PLAN LAST TEN CALENDAR YEARS (SCHEDULES TO BE BUILT PROSPECTIVELY)

SCHEDULE OF DISTRICT CONTRIBUTIONS

2016 $

Actuarially determined contribution Contributions in relation to the actuarially determined contribution

payroll

Contributions as a percentage of covered-employee

$

$

(109)94)

$

$

12,3?5.486

$

22.95 %

payroll

3,293,073

$

3,386,334

3,386,334

3,293,073

2,828.543

Contribution excess Covered-employee

2,719,249

2014

2015

$ 12,277,252 26.82 %

$

11,338,333 29.87 %

NOTES TO SCHEDULES Valuation Date. Actuarially determined contribution rates are calculated as of December 31, 2016. Methods and Assumptions used to Determine Contribution Rates. Actuarial cost method

Entry age normal

Amortization method

Level percentage of payroll

Remaining amortization period

24 years

Asset valuation method

Market value

Inflation

2.75%

Salary increases

4.5% - 32.3%

Investment rate of return

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

Retirement age

Based on the assumption study prepared by Lauterbach & Amen, LLP in 2016 capped at age 65

Mortality

Based on the assumption study prepared by Lauterbach & Amen, LLP in 2016. The table combines observed experience of Illinois Firefighters with the RP-2014 mortality table for blue collar workers

46

pension

plan


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS REQUIRED SUPPLEMENTARY INFORMATIONILLINOIS MUNICIPAL RETIREMENT FUND LAST TEN CALENDAR YEARS (SCHEDULE TO BE BUILT PROSPECTIVELY)

SCHEDULE

OF CHANGES

IN THE DISTRICT'S

NET PENSION 2016

Total pension liability: Service cost Interest on the total pension liability Differences between expected and actual experience Changes in assumptions Benefit payments, including refunds of employee contributions

$

Net change in total pension liability Total pension liability at beginning of year Total pension liability at end of year Plan fiduciary net position: Contributions - employer Contributions - employees Net investment income Benefit payments, including refunds of employee contributions Other

230,787 523,546 (331,605) (10,631)

2015

$

(155.769)

(161.790)

265,527

785,210

971,979

6,947.829

6.162.619

5.190.640

$

6.947,829

$

6.162.619

$

173,065 92,824 428,716

$

166,856 95,217 31,812

$

161,479 87,658 357,612

(146,570) (269,892)

(155,769) (252,130)

(161,790) 45.482

278,143

(114,014)

490,441

6.473,384

$

6,195.241

$

$

739.972

$

752.588

$

89.74 % $

2.062.750

35.87 %

47

5,818,814

6.309,255

$

Plan fiduciary net position as a percentage of total pension liability

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

221,978 391,555 302,650 217,586

(146.570)

6.195.241

Covered valuation payroll

$

7.213.356

Plan fiduciary net position at beginning of year

District's net pension liability at end of year

224,261 464,765 241,876 10,077

2014

$

Net change in plan fiduciary net position

Plan fiduciary net position at end of year

LIABILITY

2,096,190

35.90 %

( 146.636)

102,38 %

89.17 % $

6,309.255

$

1,986.611

(7.38)%


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS REQUIRED SUPPLEMENTARY INFORMATION ILLINOIS MUNICIPAL RETIREMENT FUND LAST TEN CALENDAR YEARS (SCHEDULE TO BE BUILT PROSPECTIVELY)

SCHEDULE OF DISTRICT CONTRIBUTIONS 2016 173,065

$

Actuarially determined contribution

$

Contribution excess Covered-employee

$

$

payroll

166,856

Actual contribution as a percentage of covered-employee payroll

8.39 %

$

2.096,190

7.96 %

159,922 161,479

$

$ 2,062,750

$

'166,856

173,065

Actual contribution

2014

2015

$

( 1,557) 1,986,611

8.13 %

NOTES TO SCHEDULES Valuation Date. Actuarially determined contribution rates are calculated as of December 31 each year, which is 12 months prior to the beginning of the fiscal year in which contributions are reported. Methods and Assumptions used to Determine Contribution Rates. Actuarial cost method

Aggregate entry age normal

Amortization method

Level percentage of payroll, closed

Remaining amortization period

27-year closed period

Asset valuation method

5-Year smoothed market; 20% corridor

Wage growth

3.5%

Price inflation

2.75%, approximate; no explicit price inflation assumption is used in this valuation.

Salary increases

3.75% to 14.5%, including inflation

Investment rate of return

7.5%

Retirement age

Experience-based table of rates that are specific to the type of eligibility condition; last updated for the 2014 valuation pursuant to an experience study of the period 2011-2013.

48


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS REQUIRED SUPPLEMENTARY INFORMATION ILLINOIS MUNICIPAL RETIREMENT FUND LAST TEN CALENDAR YEARS (SCHEDULE TO BE BUILT PROSPECTIVELY)

Mortality

For non-disabled retirees, an IMRF specific mortality table was used with fully generational projection scale MP-2014 (base year 2012). The IMRF specific rates were developed from the RP-20 14 Blue Collar Health Annuitant Mortality Table with adjustments to match current IMRF experience. For disabled retirees, an IMRF specific mortality table was used with fully generational projection scale MP-20l4 (base year 2012). The IMRF specific rates were developed from the RP-2014 Disabled Retirees Mortality Table applying the same adjustments that were applied for non-disabled lives. For active members, an IMRF specific mortality table was used with fully generational projection scale MP-2014 (base year 2012). The IMRF specific rates were developed from the RP-20l4 Employee Mortality Table with adjustments to match current IMRF experience.

Other information: Notes

There were no benefit changes during the year.

49


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS REQUIRED SUPPLEMENTARY INFORMATION RETIREE HEALTH INSURANCE PLAN DECEMBER 31, 2016

SCHEDULE

Actuarial Value of Assets

Actuarial Valuation Date December December December December December

31, 31, 31, 31, 31,

2014 2012 2011 2009 2007

$

8,563,418 7,265,203 5,774,041 3,922,615

OF FUNDING PROGRESS

Actuarial Accrued Liability

Unfunded Actuarial Accrued Liability (UAAL)

Funded Ratio

Covered Payroll

UAAL as a Percentage of Covered Payroll

$ 22,721,458 19,979,857 20,405,022 18,392,257 16,806,907

$ 14,158,040 12,714,654 14,630,981 14,469,642 16,806,907

37.69 36.36 28.30 21.33 0.00

$ 17,102,343 15,925,073 16,106,119 14,020,649 11,633,789

82.78 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, 2016 31, 2015 31,2014 31,2013 31, 2012 31, 2011

Required Contribution $

1,313,054 1,313,054 1,234,355 1,234,355 1,291,437 1,390,511

50

Percentage Contributed 0.00 0.00 0.00 100.05 105.21 25.80


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, 2016 WITH COMPARATIVE TOTALS FOR DECEMBER 31,2015

Tort Liabilitv

Corporate

Emergency Rescue

Totals 2016

2015

$ 13,282,474

$ 12,585,670

19,893,635 414,049 1,013,552

19,430,931 354,859

Eliminations

ASSETS Cash and investments Receivables: Property taxes Accounts Due from other funds Due from fiduciary trust fund Prepaid items 51 Total assets

$ 13,282,474

$

$

$

15,347,186 414,049 1,013,552

2,395,348

2,151,101

2,402,746

1,031,863

5.321

63.443

(3,434,609)

68,764

8,884 108.434

$ 30,062,582

$ 4,861.537

$ 3,182.964

.$ (3.434.609)

$ 34,672.4 74

$ 32,488,778

s

$

$

$

$

$

LIABILITIES Accounts payable Accrued expenditures Unearned revenue Due to other funds Total liabilities

163,422 298,970

19,215 52,757

8,523,583

170,195

(3.434,609)

5.259,169

163,637 300,193 248,728 4,071.510

(3.434,609)

5.827.681

4.784.068

12,422 21,726

195,059 373,453

8.985.975

71.972

204,343

15.347.186

2.395.348

2.151.101

19,893,635

19,399,094

5,321 100,448 67,880 5.555,772

63,443 2,111,130 219,644

485,876 341,644

68,764 2,697,454 629,168 5.555.772

108,434 2,176,794 455,190 5.565.198

5,729.421

2.394.217

827,520

8,951.158

8.305.616

s 30,062.582

$ 4.861.537

$ 3,182,964

s 34.672.474

$ 32.488.778

DEFERRED INFLOWS OF RESOURCES Unavailable revenue - property taxes

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

51

$ (3.434,609)


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS COMBINING SCHEDULE OF GENERAL FUND REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES YEAR ENDED DECEMBER 31, 2016 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 Contractual: Insurance Professional services Other Debt service: Principal Interest

$

3,168,148 4,700

$

1,128,208 68,285

$

20.441.602

Fund balances at beginning of year $

18,953,376 465,563 9,506 7,795 17,376 165.025 19.618.641

1.204.551

7,565,803 148,780 38,809 1,590,860 2,828,543

1,313,242 23,651 20,829 257,299

694,611 24,122 6,270 117,844

9,573,656 196,553 65,908 1,966,003 2,828,543

9,347,263 187,460 51,650 1,828,580 3,293,073

53,565

12,423 65,540 3,179 31,868 4,067

76,978 325,782 314 52,100 474,990 25,807

47,917 404,327 2,624 88,201 213,772 75,242

31,202 4,944

1,014,198 319,675 32,475

1,131,280 356,368 70,384

595,000 1.04.2.0.78

520,000 1.050.398

7,512 21,026

1,014,198 133,307

14.749.361

2.844.629

1,278,338

364,723

9911.070

18,MfU39

18.590.060

950,102

1,851,542

208,481

( 1,4()(J.OOO)

( 1.206,000)

( 1.206.000)

Net change in fund balances

$

3.209.352

595,000 1.042.078

Other financing uses: Transfers out

19,338,433 631,226 240,494 11,438 24,777 195.234

16.027.699

155,166 27,531

Excess of revenues over expenditures

2015

2016

I.lH2 3.C)04 2352

36.504

64,555 206,677 314 41,409 422,096 21,740

Total expenditures

Fund balances at end of year

15,042,077 558,241 240,494 9,636 20,873 156,378

Totals

Emergency Rescue

Tort illhility

Corporate

31, 2015

72,338

364,723

208,481

645,542

5.657.083

2.029.494

G19.0J9

8.305.616

5.729.421

2.394.217

52

s

827.520

s

8.951.158

(455,898) 8.761.-14 $

8. 05.6J6


CORPORA TE FUND


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS CORPORATE FUND BALANCE SHEET DECEMBER 31, 2016 WITH COMPARATIVE AMOUNTS FOR DECEMBER 31, 2015

2015

2016 ASSETS $

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

13,282,474

$

15,226,003 354,859

15,347,186 414,049 1,013,552

8,884 5,972

5,321

Total assets

12,585,670

$

30.062.582

$

28,181,388

$

163,422 298,970

$

8.523.583

149,890 239,916 248,728 6.691,605

8.985,975

7,330,139

15.347.186

15.194,166

5,321 100,448 67,880 5,555.772

5,972 78,040 7,873 5,565,198

5.729.421

5,657,083

LIABILITIES Accounts payable Accrued expenditures Unearned revenue Due to other funds Total liabilities

DEFERRED

INFLOWS

OF RESOURCES

Unavailable revenue - property taxes

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

$

53

30.062,582

$

28.181.388


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS

CORPORATE

FUND

SCHEDULE OF REVENUES, EXPENDITURES, ENCUMBRANCES CHANGES IN FUND BALANCES - BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2016 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED DECEMBER 31,2015

AND

2015

2016

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 Contractual: Professional services Other Debt service: Principal Interest Total expenditures and encumbrances

$

Actual

7,796

7,796

15,042,077 558,241 240,494 9,636

14,442 162.243

14,442 162,243

20,873 156,378

15,777,634

15,777.634

16,027,699

7,248,600 149,056 153,653 1,606,029 2,719,249

7,248,669 149,235 153,653 1,606,039 2,719,249

91,642 235,137 3,332 64,303 330,177 19,323

15,247,076 346,077

$

15,247,076 346,077

$

Variance with Final Budget

$

(204,999) 212,164 240,494 1,840 6,431 (5,865)

Actual

$

14,895,882 402,711 9,506 6,145 14,638 140,157

250,065

15,469,039

7,565,803 148,780 56,361 1,590,860 2,828,543

(317,134) 455 97,292 15,179 (109,294)

7,367,151 139,451 30,925 1,480,896 3,293,073

91,642 242,744 3,332 64,303 568,506 19,323

64,555 213,516 314 56,482 442,639 21,740

27,087 29,228 3,018 7,821 125,867 (2,417)

40,621 266,845 2,624 59,562 203,968 25,151

133,045 58,311

133,045 58,311

155,166 27,531

(22,121) 30,780

205,037 63,003

595,000 1,042,078

595,000 1,042,078

595,000 1,042,078

14,448.935

14.695.129

14.809.368

54

520,000 1,050.398

(114.239)

14,748,705


2016

Original Budget Excess of revenues over expenditures and encumbrances Other financing uses: Transfers out Net change in fund balances

Final Budget

2015

Variance with Final Budget

Actual

1,328,699

1,082,505

(1,206,000)

( 1,206,000)

(1,206.000)

122,699

(123,495)

12,331

1,218,331

Actual

135,826

720,334

(1,406.000) 135,826

(685,666)

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

5,649.210

5,649.210

5.649.210

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

5,771,909

5,525,715

5,661,541

135,826

5,649,210

67.880

67.880

7.873

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

$

5.771,909

$

5.525.715

55

$

5.729,421

6.334.876

$

203.706

$

5.657.083


TORT LIABILITY

FUND


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS TORT LIABILITY FUND BALANCE SHEET DECEMBER 31,2016 WITH COMPARATIVE AMOUNTS FOR DECEMBER 31,2015

2015

2016 ASSETS Property taxes receivable Due from other funds Prepaid items Total assets

$

2,395,348 2,402,746 63.443

$

3,084,100 1,969,727 102.462

$

4,861.537

$

5.156.289

$

19,215 52,757

$

LIABILITIES Accounts payable Accrued expenditures Total liabilities

DEFERRED

INFLOWS

42.695

71,972

42.695

2,395,348

3.084.100

63,443 2,111,l30 219,644

102,462 1,748,592 178.440

2,394,217

2,029.494

OF RESOURCES

Unavailable revenue - property taxes

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

$

56

4,861,537

$

5.156289


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS TORT LIABILITY FUND SCHEDULE OF REVENUES, EXPENDITURES, ENCUMBRANCES CHANGES IN FUND BALANCES - BUDGET AND ACTUAL YEAR ENDED DECEMBER 31,2016 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 2015

AND

20]5

20]6 Original Budget Revenues: Property taxes Charges for service Other

$

3,100,000 1,200 59.600

Final Budget

$

3,100,177 1,200 59.600

Actual

s

3,168,148 4,700 36.504

Variance with Final Budget

$

67,971 3,500 (23.096)

Actual

$

3,070,067 985 22.136

3.160.800

3.160.977

3.209.352

48.375

3.093.188

1,261,248 22,935 75,980 256,038

1,261,248 22,935 75,980 256,038

1,313,242 23,651 32,691 257,299

(51,994) (716) 43,289 (1,261)

1,255,414 23,830 12,354 236,561

53,440 11,617 29,500

53,440 11,617 29,500

42,742 9,975 21,026

10,698 1,642 8,474

117,893 10,763 13,254

1,196,767 14Ll34

1,196,767 14Ll34

1,014,198 133.307

182,569 7.827

1,131,280 111.903

3.048.659

3.048.659

2.848.131

200.528

2.913.252

112,141

112,318

361,221

248,903

179,936

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

1.981.783

1,981,783

1.981.783

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

2,093,924

2,094,101

2,343,004

248,903

1,981,783

51.213

51.213

47.711

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 Total expenditures and encumbrances Excess of revenues over expenditures and encumbrances

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

$

2.093.924

$

2.094.101

57

$

2.394.217

1.801.847

$

300.116

$

2.029.494


EMERGENCY

RESCUE FUND


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS EMERGENCY RESCUE FUND BALANCE SHEET DECEMBER 31,2016 WITH COMPARATIVE AMOUNTS FOR DECEMBER 31, 2015

2015

2016 ASSETS Property taxes receivable Due from other funds Total assets

$

2,151, 101 1.0 1.863

$

1,120,828 650.368

$

3.182.964

$

1.771.196

$

12,422 21,726 170.195

$

13,747 17,582

LIABILITIES Accounts payable Accrued expenditures Due to other funds Total liabilities

DEFERRED

INFLOWS

204.343

31.329

2,151,1 01

1.120.828

485,876 341,644

350,162 268,877

827,520

619,039

OF RESOURCES

Unavailable revenue - property taxes

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

$

58

3,182,964

$

1.771,196


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS EMERGENCY RESCUE FUND SCHEDULE OF REVENUES, EXPENDITURES, ENCUMBRANCES CHANGES IN FUND BALANCES - BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2016 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED DECEMBER 31,2015

AND

2015

2016

Final Budget

Original Budget 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 insurance Commodities: Heat, light and power Operational supplies Protective clothing Repairs and maintenance Telephone Contractual: Professional services Other Total expenditures and encumbrances

$

1,100,000 63,840 1,458

$

1,100,208 63,840 1,458

Actual

$

1,128,208 68,285 1,802

Variance with Final Budget

$

28,000 4,445 344

Actual

$

987,427 61,867 1,650

2,702 1.246

2,702 1.246

3,904 2.352

1,202 1,106

2,738 2.732

1,169,246

1,169.454

L204,551

35,097

1,056.414

646,275 24,137 18,992 120,716

646,275 24,137 18,992 120,716

694,611 24,122 6,275 117,844

(48,336) 15 12,717 2,872

724,698 24,179 7,628 111,123

17,725 76,524 4,897 60,371 3,615

17,725 77,806 4,897 61,703 3,615

12,423 64,743 4,257 36,216 4,067

5,302 13,063 640 25,487 (452)

7,296 59,971 4,616 43,323 3,318

27,460 8.288

27,460 7,547

31,202 4,944

(3,742) 2,603

39,428 7.381

1,009,000

1,010,873

1,000,704

10.169

1,032,961

59


2015

2016

Final Budget

Original BlIdget

Actual

Variance with Final Iludget

Actual

Excess of revenues over expenditures and encumbrances

160,246

158,581

203,847

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

614,946

614,946

614,946

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

775,192

773,527

818,793

45,266

614,946

8,727

8,727

4,093

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

$

775,192

$

773,527

60

$

827,520

23,453

45,266

591,493

$

53,993

$

19,039


AMBULANCE

FUND


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS AMBULANCE FUND BALANCE SHEET DECEMBER 31, 2016 WITH COMPARATIVE AMOUNTS FOR DECEMBER 31, 2015

2015

2016 ASSETS Receivables: Property taxes Accounts Due from other funds Total assets

$

8,487,340 1,546,890 5238,263

$

8,632,022 1,077,454 3,872,549

$

15.272.493

$

13,582,025

$

16,453 279,390

$

6,718 226,104

LIABILITIES Accounts payable Accrued expenditures Total liabilities

DEFERRED

INFLOWS

295,843

232,822

8.487.340

8.632,022

33,728 6.455.582

20,130 4,697,051

6.489,310

4.717.181

OF RESOURCES

Unavailable revenue - property taxes

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

$

61

15.272.493

$

13,582,025


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS AMBULANCE FUND SCHEDULE OF REVENUES, EXPENDITURES, ENCUMBRANCES CHANGES IN FUND BALANCES - BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2016 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED DECEMBER 31,2015

AND

2015

2016

Final Budget

Original Budget 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 Contractual: Billing services Professional services Other Total expenditures and encumbrances

$

8,300,000 3,019,261 14,146

$

8,300,000 3,019,261 14,146

Actual

$

8,584,400 3,674,758 17,483

Variance with Final Budget

$

284,400 655,497 3,337 11,667 (7.114)

Actual

$

8,438,451 3,111,254 15,999 26,561 60.386

26,206 43,590

26,206 43.590

37,873 36,476

11,403,203

11,403,203

12,350,990

947.787

11.652,651

7,101,464 258,315 57,664 1,613,453

7,101,395 261,135 57,664 1,613,443

7,392,293 260,840 24,563 1,585,795

(290,898) 295 33,1 1 27,648

7,178,681 260,575 28,749 1,486,187

165,634 199,638 6,045 61,584 493,563 35,062

165,634 214,405 6,045 61,584 508,676 35,062

116,745 224,473 571 54,681 341,111 39,449

48,889 (10,068) 5,474 6,903 167,565 (4,387)

70,764 223,846 4,761 56,845 484,115 32,181

130,000 261,972 290,401

130,000 260,748 290,401

87,000 300,203 203,374

43,000 (39,455) 87,027

106,033 379,534 299,687

10.674.795

10,706.192

10,631,098

75,094

10,611.958

62

°


2015

2016

Original Budget Excess of revenues over expenditures and encumbrances

Final Budget

Actual

697,011

728,408

Variance with Final Budget

Actual

1,022,881

1,719,892

1,040,693

Other financing uses: Transfers out

(300.000) 728,408

697,011

1,719,892

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

4.702.267

4.702.267

4.702.267

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

5,430,675

5,399,278

6,422,159

1,022,881

4,702,267

67.151

67.151

14,914

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)

$

5.430.675

$

5.399.278

63

$

6.489.310

740,693

1,022,881

3,961,574

$

1.090.032

$

4.717.181


CAPIT AL PROJECTS

FUND


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS CAPITAL PROJECTS FUND BALANCE SHEET DECEMBER 31, 2016 WITH COMPARATIVE AMOUNTS FOR DECEMBER 31, 2015

2016

2015

ASSETS Cash and investments Due from other funds Total assets

$

2,028,254

$

2,027,086 177,655

$

2.028.254

~

2.204.741

$

356,519 1,013,552

$

LIABILITIES Accounts payable Due to other funds

1,370,071

Total liabilities

FUND BALANCES 658,183

Assigned $

Total liabilities and fund balances

64

2,028254

2,204.741 $

2204,741


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS CAPITAL PROJECTS FUND SCHEDULE OF REVENUES, EXPENDITURES, ENCUMBRANCES CHANGES IN FUND BALANCES - BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2016 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 2015

AND

20]5

2016 Original Budget Revenues: Investment income Other

$

Final Budget

$

Actual

$

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

Variance with Final Budget

1,008

$

1,008

Actual

$

1.008

1.008

8580

(111,716) (29,685) 650,393

108,305 33,096 738.446

I, 126.250

1.562.250

111,716 29,685 911,857

1.126.250

1,562.250

1.053.258

508,992

879.847

(1,126,250)

(1,562,250)

(1,052,250)

510,000

(871,267)

Other financing sources: Transfers in

500.000

Net change in fund balances Fund balances at beginning of year (non-GAAP budgetary basis) Fund balances at end of year (non-GAAP budgetary basis)

(1,126,250)

(1,562,250)

(1,052,250)

1.710.433

1.710.433

1.710.433

584,183

148,183

658,183

(371 ,267)

510,000

2.081.700

510,000

1,710,433

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

2,626 5,954

494,308

$

584.183

148.]83

$

65

$

658.183

$

510.000

$

2.204.741


NON MAJOR GOVERNMENTAL

FUND


DEBT SERVICE

FUND


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS DEBT SERVICE FUND BALANCE SHEET DECEMBER 31, 2016 WITH COMPARATIVE AMOUNTS FOR DECEMBER 31, 2015

2016

2015

ASSETS Due from other funds

$

20.906

~$=====2:=]=.3=06=

$

20.906

~$=====2:=1=.3=06=

FUND BALANCES Assigned

66


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS DEBT SERVICE FUND SCHEDULE OF EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL YEAR ENDED DECEMBER 31, 2016 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 2015

2016 Original and Final Budget Expenditures: Debt service: Principal Interest

$

Total expenditures Other financing sources: Transfers in

1,160,000 46.000

Variance with Final Budget

Actual

$

1,160,000 46,400

1,206,000

1,206,400

1.206.000

1.206.000

Net change in fund balances

$

21.306 21.306

$

67

Actual

(400)

$

1,115,000 91.000

(400)

1,206,000

1.206.000

(400)

Fund balances at beginning of year Fund balances at end of year

2015

(400)

21.306 $

20.906

21.306 $

(400)

$

21.306


FIDUCIARY

FUNDS


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS COMBINING SCHEDULE OF CHANGES IN NET POSITION - FIDUCIARY FUNDS YEAR ENDED DECEMBER 31,2016

Retiree Health Insurance

Firefighters' Pension Additions: Contributions: Employer Plan members Other

$

2,828,543 1,185,562 8.077

$

$

2,828,543 1,185,562 8.077 4.022.182

4.022.182

Total contributions

Total

10,619,771 (227.872)

442,118 (15.063)

] 1,061,889 (242.935)

Net investment income

10.391.899

427.055

10.818.954

Total additions

14A14.081

427.055

14.84IJ36

Investment income Less investment expense

Deductions: Benefit payments Administrative expenses Total deductions Increase (decrease) in net position

823,422 3.500

4,820,635 103.780

4.097A93

826.922

4,924,415

10,316,588

(399,867)

9,916,721

131AOO.063

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

3,997,213 100,280

$ 141.716.651

69

7.828,050 $

7A28.183

139.228.113 $ 149.144.834


FIREFIGHTERS'

PENSION FUND


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS FIREFIGHTERS' PENSION FUND STATEMENT OF CHANGES IN NET POSITION YEAR ENDED DECEMBER 31, 2016 WITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 2015

2016 Additions: Contributions: Employer Plan members Other

$

2,828,543 1,185,562 8.077

2015

$

3,293,073 1,150,791

4,022,182

4,443.864

10,619,771 (227,872)

1,047,223 (236.303)

Net investment income

10.391.899

810.920

Total additions

14.414,081

5.254,784

3,997,213 100,280

3,766,976 84,706

4,097.493

3,851,682

10,316,588

1,403,102

131.400,063

129.996,961

$ 141,716,651

$ 131.400.063

Total contributions Investment income Less investment expense

Deductions: Benefit payments Administrative expenses Total deductions Net increase in net position Net position at beginning of year Net position at end of year

71


RETIREE

HEALTH INSURANCE

FUND


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS RETIREE HEALTH INSURANCE FUND STATEMENT OF NET POSITION DECEMBER 31,2016 WITH COMPARATIVE AMOUNTS FOR DECEMBER 31,2015

2016

2015

ASSETS Cash Investments: Debt issues: Corporate Mutual funds: Bonds Equities Other pooled fixed income investments U.S. government agency obligations

$

Total assets

58,754

$

86,836

802,641

749,237

1,494,043 3,469,512 1,181,247 421,986

1,987,462 3,286,743 1,365,172 352,600

s

7,428,183

$

7,828.050

$

7,428.183

$

7,828,050

NET POSITION Net position restricted for other post-employment benefits

72


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS RETIREE HEALTH INSURANCE FUND STATEMENT OF CHANGES IN NET POSITION YEAR ENDED DECEMBER 31,2016 WITH COMPARATIVE AMOUNTS FOR THE YEAR ENDED DECEMBER 31, 2015

2016 Additions: Investment income Less investment expense

$

Net investment income Deductions: Benefit payments Administrative expenses Total deductions Net decrease in net position Net position at beginning of year

442,118 (15,063)

2015

$

427,055

26.548

823,422 3,500

761,916

826,922

761.916

(399 867)

(735,368) 8,563.418

7.828,050

Net position at end of year

$

73

42,229 (15,681)

7,428,183

$

7,·828.050


STATISTICAL SECTION


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS STATISTICAL SECTION DECEMBER 31, 2016

This part of the District's comprehensive annual financial report presents detai led 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 74-75 Net Position by Component 76-77 Changes in Net Position 78-79 Fund Balances of Governmental Funds 80-81 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 82-83 Schedule of Assessed Value and Estimated Actual Value of Taxable Property 84-85 Schedule of Assessed Valuations, Tax Rates, Extensions and Collections 86-87 Property Tax Rates - Direct and Overlapping Governments Principal Property Taxpayers 88-89 Debt Capacity - These schedules present information to help the reader assess the affordabi lity of the government's current levels of outstanding debt and the government's ability to issue additional debt in the future. Page 90-91 Outstanding Debt by Type 92 Ratios of General Obligation Debt Outstanding Direct and Overlapping General Obligation Debt 93 94-95 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 96-97 Demographic and Economic Statistics 98-99 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 \00-\01 Full-time Equivalent District Employees by Type 102-103 Operating Indicators by Function


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

2016

2013

2014

2015

Governmental activities: Net investment in capital assets

$

Restricted Unrestricted Total governmental activities net position (deficit)

s

16,986,770

$

15620884

$

14,581,762

$

13,719,919

2,696,270

2,415,372

1,962,414

1,996,258

(22.069.217)

(20.148,296)

9.264.348

9.357,299

(2.J 86. 177) $

(2.1 12.040) $

25.808.524

$

25.073.476

Note: The District adopted GASB 68 during 2015. Prior years are not restated to reflect retrospective adoption of the statement.

74


2012

s

$

12,577,376

2010

2011

$

12,313,750

s

7.90·4930

s

10,455,243

$

9,286,733

_,I 18 736

2,252,121

3,125,891

3,547,361

3,310,447

9,980.960

9.967,417

13.116,667

10.448361

10,2....7.394

24.677,072

$

24,533.288

$

24.147.488

$

24,450,965

75

2007

2008

2009

$

12,874,574

7,857463

$

1,892,942 1

$

1,()4(j,809

20.}97.214


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

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

2013

2016

2015

2014

$ 16,145,307 12,703,385 3,099,171 1.119.872

$ 15,789,071 12,633,953 3,028,790 1.178.919

$ 14,474,684 11,756,488 2,805,863 1.226.969

$ 14,125,007 11,371,042 2,732,841 l.229.493

33,067.735

32,630.733

30.264.004

29.458,383

438,758 2,920,777 217,282 10,006

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

363,134 2,789,402 165,695 64,944 20.000

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

549,943 3,527,863 228,178 240,494

Total primary government program revenues

4.546.478

3.586.823

3,459.036

3,403,175

Net (expense)/revenue Total primary government net expense

(28.521,257)

(29.043,910)

(26.804.968)

(26,055,208)

27,922,833 62,650 29,929 231,708

27,391,827 43,937 26,420 285,166

27,304,943 43,351 25,432 166.290

26,170,143 53,633 42,090 185.746

28.247.120

27,747.350

27.540.016

26,451,612

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

$

(274,137)

$ ( I ,296.560)

$

735,048

$

396.404

Note: The District adopted GASB 68 during 2015. Prior years are not restated to reflect retrospective adoption of the statement.

76


2012

2011

2010

2009

2008

2007

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

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

$ 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

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

29,898,579

28,799,268

28,270,333

26,409,473

24,619,246

21.824,133

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

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

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

2,965,541

2,638,576

2,629,428

2,599,248

1,732,925

1.123,050

(26,933,038)

(26,160,692)

(25,640, 05)

(23,810,225)

(22,886,321 )

(20,701,083 )

26,611,660 36,696 47,768 551,891

25,919,259 49,442 47,636 530.155

24,473,283 48,831 61,362 753,952

25,099,514 45,287 72,820 218,995

24,404,824 53,682 378,131 77.044

23,057,944 54,494 893,718 101.588

27,248,015

26,546,492

25,337,428

25,436,616

24,913,681

24,107,744

$

314,977

$

385,800

s

(303,477)

$

1.626,391

77

$

2.027.360

$

3,406,661


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:

$

8,951,158

$

$

8,761.514

6,943,228

$

$

8,829,142

$ 22,420 7.398.484

24,705 6,651 ;877

20,130 6,923,098

33,728 7,134,671 7,168.399

$

$

$

$

$

8,305,616

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

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

108,434 2,176,794 455,190 5,565,198

68764 2,6 7454 629,168 5,555,772

2013

$

$

$

$

2014

2015

2016 General Fund: Reserved Unreserved Nonspendable Restricted Assigned Unassigned

ILLINOIS FUNDS

6,676,582

$

7.420,904

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

78


8,101,238 $

$

$

$

8,101,238

6.717,040

1,220,121 9,509,945

$

2,720,495 9,732,715

$

2,054,995 10,697,837

$

10.730,066

$

12,453.210

$

12,752,832

10.389,995

6.717.040 $

$

$

10.389.995

79


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS LAST TEN FISCAL YEARS

2015

2016 Revenues: Property taxes Charges for service Grant proceeds Investment income Personal property replacement taxes Intergovernmental Other

$

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 I debt certificate issuance costs and fees Capital outlay Total expenditures

27,922,833 4,305,984 240,494 29,929 62,650

$

$

$

167,540

26,170,143 3,318,23 I 84,944 42,090 53,633

285,666

32,793,600

31,334,173

30,999,052

29,854,787

16,965,949 457,393 90,588 3,551,798 2,828,543

16,76 I,793 451,791 79,986 3,129,463 3,293,073

17,369,632 448,998 58,366 2,759,945 3,386,334

15,830,084 435,550 97,058 4,175,191 2,719,548

193,723 550,086 885 91,93 I 780,135 65,256

118,681 625,399 7,385 155,085 627,729 60,650 116,931

125,532 672,367 7,453 213,293 624,681 57,241 128,406

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

87,000 1,014,198 618,507 235,851

106,033 1,131,280 735,902 370,071

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

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

1,866,716 1,118,163

1,743,305 I, I74,494

1,534,998 1,222,763

1,325,000 1,188,476

1,406,165

834,374

2,027.616

1,037,187

3 1,922,887

31,523,425

32,966,824

31,011,046

( 1.967,772)

( 1.156.259)

( 189,252)

870,713

185,746

1,155,822 1,706,000 ( 1.706,000)

1,206,000 ( I ,206,000)

2,071,600 (2,071,600)

1,125,000 ( 1,125,000) I. 155,822

Total other financing sources (uses) Net change in fund balances

27,304,943 3,380, I24 77,662 25,432 43,35 I

231.710

Excess (deticiency) of revenues over expenditures Other financing sources (uses): Installment contract Proceeds from debt issuance Transfers in Transfers out

27,391,827 3,576,817 9,506 26,420 43,937

2013

2014

870,713

$

Debt service as a percentage of non-capital expenditures

9,69 %

80

s

( 1119,2-2)

9.49 %

s

(811.950)

8,90 %

$

( 1.150,259)

8,39 %


2011

2012

$

26,611,660 2,801,351 164,190 47,768 36,696

$

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

2010

$

24,473,283 2,459,966 169,462 61,362 48,831

2009

$

$

24,404,824 1,658,080 74,845 378,131 53,682 965 429.293

2007

$

23,057,945 1,048,200 74,850 893,718 54,494 15,977 423.794

551.891

530.155

753.952

762.922

30.213.556

29.185.068

27.966.856

28.579.791

26.999.820

25.568.978

16,880,527 448,110 76,483 3,889,503 29,075,713

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

14,382,321 385,4 72 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

11,627,351 272,820 69,052 2,774,237 2,270,452

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

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

4,315 123,919 541,934 10,175 135,604 851,299 84,367 110,535

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

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

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

860,000 198,850 452,153 265.701

1,858,330 258,440

850,554 298,333

799,116 310,844

3.516.503

2.103.439

4.670.961

660,000 321,726 50 2.456.963

590,000 273,108 79,725 377.477

32.185.842

29.592.624

30.668.379

28.175.030

(25.709.355)

(3.000.774 )

( 1.625.768)

(2.088.588)

(1.175.210)

3.486.383

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

130,000 ( 130.000)

2,575,975 (2.575.975)

906,000 1,855,000 ( 1.855.000)

1,320,000 ( 1.320.000)

8,090,277 5,174 (5.174)

55.922.911

906.000

26.715.000

s

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

2008

1.005.645

2.71 %

s

O.OOO.774}

7.38 %

s

( 1.625.7611l $

4.18 %

( I. 182. "88\

4.27 %

81

22.082.595

8.090.277

s

( I.J 75.21 OJ $

3.82 %

11.576.660

4.34 %


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

Levy Year

Residential Propertv

Commercial Propertv

2015 2014 2013 2012 201 I 2010 2009 2008 2007 2006

$ 1,451,557,819 1,493, I 85, 102 1,535,459,71 I 1,624,500,909 1,761,730,402 2,06 I ,365,996 2,060,640,966 1,886,724,268 1,708,768,401 1,599,048,504

$ 657,268,274 676,117,190 597,040,566 63 1,662,905 685,022,544 80 I,53 1,367 80 1,249,450 869,929,570 709,458,743 639,536, I 75

Assessed Value Industrial Property $

20,011,080 20,584,95 I 114,982,236 121,650,047 131,926,418 154,364,500 154,3 10,206 183,446,572 166,868,345 162,636,923

Source: Office of the Cook County Assessor

82

Farm Property $

316,305 325,376 349,582 369,854 401,097 469,316 469,151 787,568 737,880 741,526

Railroad Property $

472,119 485,658 386,107 408,498 443,006 518,352 518,170 407,715 354,862 300,730

Total Assessed Value $ 2,129,625,597 2, I 90,698,277 2,248,2 I 8,202 2,378,592,213 2,579,523,467 3,0 I 8,249,531 3,0 I 7, 187,943 2,94 I ,295,693 2,586, I 88,23 I 2,402,263,858


Estimated Actual Value

Total Direct

$ 8,561,094,900 8,806,607,074 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, I00,709

$ 1.3427 1.2693 1.2374 1.1263 1.0497 0.8782 0.8361 0.8507 0.9502 0.9741

Rate

83


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS SCHEDULE OF ASSESSED VALUA TIONS, TAX RATES, EXTENSIONS AND COLLECTIONS DECEMBER 31,2016

2015(2)

Assessed valuation (I)

$ 2,129.625,5

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 Percent collected: Current Subsequent Total

7

$ 2, 190,698,277

2012

2013

2014

$ 2.248.218,202

$ 2,378.592213

0.5000 0.4000 0.1509 0.0000 0.2107 0.0085 0.0179 0.0015 0.0532

0.4729 0.3880 0.1439 0.0000 0.1943 0.0069 0.0161 0.0014 0.0458

0.4590 0.3686 0.1418 0.0000 0.1989 0.0068 0.0158 0.0014 0.0451

0.5000 0.3000 0.0879 0.0000 0.1635 0.0087 0.0149 0.0013 0.0500

1.3427

1.2693

1.2374

1.1263

10,359,812 8,499,909 3,152,414

$

10,319,321 8,286,932 3,187,973

$

11,892,961 7,135,777 2,089,876

10,648,128 8,518,502 3,213,600 0 4,487,017 180,250 381,100 30,900 1.133.000

$

$

28,592.497

$

27,806.529

$

27,940,928

$

26.788,386

$

27,556,585

$

27,227,022 398.086

$

26,987,031 226,278

$

25,898,953 392,789

$

27,556,585

$

27,625.108

$

27,213,309

$

26.291.742

$

4,471,782 152,878 152,878 355,218 1.013.946

4,256,526 151,158 352,702 30,669 I,00 ,339

3,889,256 206,000 355,350 29,870 1.189296

96.38 %

97.92 % 1.44

96.59 % 0.81

96.68 % 1.47

96.38 %

99.36 %

97.40 %

98.15 %

(I) Assessed valuation is as of the year preceding the fiscal year in which the taxes are levied. (2) 2015 is the most current information available. Data Source Office of the Cook County Clerk

84


2010

2011

s

$

2.579.523.467

$ 3,018,249,531

$ 3.017.187.943

$ 2.941,295,693

2006

2007

2008

2009

$ 2,586,188,231

$ 2,402,263.858

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

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

1.0497

0.8782

0.8361

0.8507

0.9502

0.9741

12,845,375 6,990,274 1,717,675

$

12,652,502 6,609,966 1,970,916

$

3,413,153 211,277 332,007 21,127 1.294,829

3,512,470 333,755 358,921 30,591 1.289,762

12,011,425 6,921,429 1,725,831

$

12,294,615 6,970,870 1,858,898

$

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

2,238,326 197,066 273,540 20,589 1,1 7,694

2,860,294 211,203 295,684 21,120 1.179.720

$

27.078.823

$

26. -05.777

$

25,226.706

$

25.021.598

$

24,574,298

$

23,400.453

$

26,193,587 201.981

$

25,578,918 420,904

$

24,235,274 339.050

$

23,927,913 791,691

$

23,606,984 609,110

$

22,523,791 795,986

$

26,395,568

$

25,999,822

24,574.324

$

24,719,604

$

24,216,094

$

23,319,777

96.73 % 0.75

96.50 % 1.59

96.07 % 1.34

95.63 % 3.16

96.06 % 2.48

96.25 % 3.40

97.48 %

98.09 %

97.41 %

98.79 %

98.54 %

99.65 %

85


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

Levy year 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 #1 Village of Orland Park Village 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 Cornm. College 524 Total overlapping governments Orland Fire Protection District Totals

2015

2014

2013

2012

2011

0.521 3.286 5.135 5.906 2.770 0.403

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

21.994

21.235

20.327

19.019

17.094

1.343

1.269

1.237

1.126

1.050

23.337

22.504

21.564

20.145

18.144

0.552 0.069 0.034 0.089 0.019 0.058 0.075 0.007 0.041 0.017 0.426 0.433

0.568 0.069 0.085 0.018 0.055 0.073 0.006 0.040 0.017 0.430 0.418

0.714 0.355 0.243 0.176

0.693 0.339 0.233 0.170

0.534 3.425 5.304 6.125 2.879 0.419

Overlapping rates for 2006 are not currently available. Source of information - Cook County Clerk's Office

86


2010

2009

2008

2007

0.394 0.049 0.02L 0.049 0.008 0.031 0.052 0.006 0.029 0.009 0.26L 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 O.03L 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 0.05L 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.L09 0.059 0.376 2.604 3.649 3.747 1.926 0.262

14.688

L3.793

14.970

14.903

0.ln8

0.836

0.85L

0.950

15.566

)4.629

L5.821

15.853

0.423 0.051 0.000 0.05L 0.009 0.032 0.052 0.006 0.029 O.OLO 0.274 0.279 0.250 0.498 0.212 0.000 O.LLO 0.056 0.359 2.467 3.710 3.742 1.812 0.256

87


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS PRINCIPAL PROPERTY TAXPAYERS* DECEMBER 31,2016

Taxpayer Simon Property Group IRC Metra Triangle LLC Edwards Realty Co. Constance Oswald St. George Corp. Supervalu Inc. B & G Realty Legal Dept J.C. Penney Co., Inc. Cambridge Realty Captl Orland Park Joint Venture Sears 0768 Tax B2 109A Albertson's Prop. Tax Macy Department Stores MCRIL LLC Lifetime Fitness

Type of Business Orland Square Mall (includes smaller stores) Shopping centers and one-story store Special rental structure One, two or three story building containing retail and commercial space Commercial buildings, 2 or more stories Commercial bui Idings over three stories Supermarket One story public garage/cinema Department store Special commercial improvements Shopping center Department store Supermarket Department store Department store Health club

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

88


2006

2015 Percentage of Total District Taxable Assessed Value

Taxable Assessed Value

Rank

$ 109,966,913 46,200,957 11,414,511

1 2 3

5.16 % 2.17 0.54

11,156,337 10,662,246 8,770,930 8,232,411 8,034,856 7,637,946 7,296,496

4 5 6 7 8 9 10

0.52 0.50 0.41 0.39 0.38 0.36 0.34

$ 229.373.603

10.77 %

Taxable Assessed Value $

Rank

Percentage of Total District Taxable Assessed Value

89,186,392 59,120,302

1 2

4.09 % 2.71

10,675,005 14,798,174

9 4

0.49 0.68

25,854,355 13,878,705 13,604,382 11,317,763 11,093,901 9.845.443

3 5 6 7 8 10

1.19 0.64 0.62 0.52 0.51 0.45

$ 259.374.422

89

11.90 %


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

Fi cal Year 2016

General Obligation Debt Certificates

General Obligation Bonds $

$

24,486,426

$

830,803

Fire Protection Notes

Notes Payable

Installment Contract

$

$

2015

1,171,375

25,065,938

942,519

2014

2,295,233

25,570,450

1,050,824

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

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

90


Total Primary Government $

Percentage of Personal Income

Per Capita

25,317,229

0.97 %

27,179,832

1.07

413

28,916,507

1.19

439

29,289,828

1.22

445

30,608,198

1.12

408

5,071,807

0.19

68

6,938,995

0.25

93

7,798,577

0.34

104

7,700,721

0.34

103

8,369,757

0.37

112

$

383

91


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

General Obligation Debt

Fiscal Year 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007

$

24,486,426 26,237,313 27,865,683 29,289,828 30,608,198 5,071,807 5,805,665 6,479,693 7,118,721 7,637,757

Less Amount Available in Debt Service Fund $

Total $

822,203 816,352 789,461 752,868

24,486,426 26,237,313 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) 0.29 % 0.30 0.31 0.32 0.30 0.04 0.04 0.05 0.06 0.07

Note: Details regarding the District's outstanding debt can be found in the notes to basic financial statements. (1)

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

92


ORLAND FIRE PROTECTION DISTRICT, ILLINOIS DIRECT AND OVERLAPPING GENERAL OBLIGATION DEBT DECEMBER 31, 2016

2015 Equalized Assessed Valuation Overlapping agencies: Cook County Cook County Forest Preserve Metropolitan Water Reclamation District

$

Applicable to District Amount Percent

Outstanding Debt

132,351,590,927 132,351,590,927

$

1.609 % 1.609

3,213,141,750 159,440,240

$

1.638

(1)

51,699,451 2,565,393 42,324,655

129,960,423,718

2,583,922,748

Municipalities: Village of Homer Glen Village of Orland Park and Library

859,367,199 1,951,886,549

9,895,000 78,910,000

0.016 96.327

1,583 76,011,636

Park District: Tinley Park Park District

1,182,432,222

7,158,000

4.914

351,744

Schools: School Di~rict#146 High School District #230 Community College #524

555,721,664 4,159,974,268 8,639,037,548

26.215 51.181 24.645

4,360,865 9,018,092 15.419,144

16,635,000 17,620,000 62,565,000 (2)

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

201,752,563

2,129,625,597

25,317,229

Total direct and overlapping general obligation debt

(1) (2)

25,317.229

100.000

$

227,069,792

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

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.

93

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 31,2016 Assessed value

$ 2.129.625.597

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

122,453,472

Total statutory debt limit

122,453,472

Debt applicable to limit

25.317,229 $

Legal debt margin

2014

2013

2012

$ 125,965,151

$ 129,272,547

$ 136,769,052

$ 148,322,599

27,179.832

28.916,507

29,289,828

30.880.000

98.785.319

$ 100.356.040

107.479,224

$ 117.442,599

2015 Debt limit Total net debt applicable to limit Legal debt margin Total net debt applicable to the limit as a percentage of debt limit

97.136.243

$

21.5773 %

94

22.3686 %

s

21.4155 %

20.8195 %


2011

2010

2009

2007

2008

s

$ 173,549,348

$ 173,488,307

$ 169,124,502

$ 148,705,823

5.025,000

6.883.330

7.733.884

7.627.000

8.287,000

$ 166.604.977

$ 161.390.618

$ 141.078.823

$ 129.843.172

$ 168.514.348

2.8954 %

3.9676 %

4.5729 %

5.1289 %

95

138,130,172

5.9994 %


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

Personal Fiscal

Population

Income

Per Capita

Unemployment

Median

Year

(1)

(in thousand )

Income (1)

Rate

Age (1)

4.40 %

46.1

38,698

5.00

45.0

2,427,444

36,847

5.60

45.0

65,879

2,396,283

36,374

6.70

45.0

2012

75,000

2,728,050

36,374

7.30

45.0

2011

75,000

2,728,050

36,374

8.20

45.0

2010

75,000

2,728,050

36,374

8.80

45.0

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

2016

66,046

$ 2,617,469

$ 39,631

2015

65,868

2,548,960

2014

65,879

2013

Data Sources: (1) Derived from the U.S. Census Bureau (most recent data). (2) Derived from Illinois State Board of Education School Report Cards.

96


Education Level in Years of

School

Formal

Enrollment

chQoling (I)

(2)

14

8,134

14

8,313

14

8,468

14

8,602

14

8,793

14

8,956

14

9,100

14

9,327

14

9,500

14

9,504

97


ORLAND FIRE PROTECTION DISTRICT, PRINCIPAL EMPLOYERS DECEMBER 31,2016

Type of Business

Taxpayer School District 135 Jewel/Osco Food Store Marquette Bank High School District #230 Darvin Furniture Lexington Health Care Lowe's Home Improvement Carson Pirie Scott Panduit Corporation The Horton Group Macy's J.C. Penney Target The Home Depot

ILLINOIS

Elementary school (K-8) Supermarket and drug store Full service bank High school (9-12) Furniture dealer - retail Nursing and convalescent homes Home center Retail department store Manufacturer of communication and telecommunications products Insurance and financial consultants Retail department store Retai I department store Discount store Retail home improvement store

Note: Percentage of total District employment is based on the 2010 census and the 2000 census. Note: 2015 is the most current information avai lab Ie. Source: Phone survey

98


99


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

Sworn Personnel - Full-time: Ch ief 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

2013

5 3 23 I

6 3 23 I

6 3 24 4

6 3 26 4

24 55 2

24 56 2

29 50 3

30 44 3

113

115

119

116

7

7

7

5

120

122

126

121

8 4 14 2 1 2 5

9 4 14 2 1 1 5

8 4 14 I I 1

5

8 3 15 2 I 2 4

36

36

34

35

156

158

160

156

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

2014

2015

2016

Source: District records Detail of personnel by employment type is not available for 2007.

100


2011

2012

2010

6 3 26 4

7 3 27 4

30 38 2

2009

2008

30 38 2

7 3 25 5 1 30 41 2

7 3 25 5 1 30 42 2

9 3 26 4 1 30 42 2

109

III

114

115

117

15

14

10

10

6

124

125

124

125

123

8 5 15 2 1 1 4

7 5 15 1 1 1 4

10 6 15 1 1 1 4

11 6 16 1 1 1 3

8 6 17 1 1 1 3

36

34

38

39

37

160

159

162

164

160

101


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

2016 Activity: Fire Service Overpressure rupture Rescue and emergency medical Hazardous cond ition Good intent False alarm Severe weather Special Ambulance ALS Ambulance BLS Other Line trouble Fire alarm Mutual aid Citizens assist Vehicle accident Total call volume

*

162 1,257 10

2015

2014

2013

2012

316 242

336 183

268 121

294 148

3,118 2,290 236 637 648 783 636 357

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

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

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

9.263

9,1 16

8,499

8.393

6,187 225 548 1,554 11 6

9.960

Source: District records

* - Beginning in 2016, the District has updated its record management system to improve its call volume tracking capabilities. Prior years are not restated. Operating indicators by function are not available for 2007.

102


2011

2010

2009

2008

253 149

258 206

218 277

253 267

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

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

2,357 1,847 473 745 614 524 513 399

2,177 1,869 964 707 771 247 566 461

8,115

8,036

7,967

8,282

103

2016 Annual Financial Audit  
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