VILLAGE OF BENSENVILLE, ILLINOIS Management’s Discussion and Analysis December 31, 2012 FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS – Continued Proprietary Funds The Village of Bensenville’s proprietary funds provide the same type of information found in the government-wide financial statements, but in more detail. The Village reports the Utility Fund as a major proprietary fund. The Utility Fund accounts for all of the operations of the municipal water and sewer system. Water is purchased from the DuPage Water Commission at a rate of $2.73 per thousand gallons. Sewage is treated by the City of West Chicago Sewage Treatment Center. Water is sold to all municipal customers at a rate of $5.38 per thousand gallons for water and a rate of $4.25 for sewer. The spread between purchase and sale rates is intended to finance the operations of the utility system, including labor costs, supplies, and infrastructure maintenance. The Village of Bensenville intends to run the fund at a breakeven rate. Periodically, there will be an annual surplus or draw down due to timing of capital projects. The surplus in the Utility Fund during the current fiscal year was $205,227, while the previous fiscal year reported a deficit of $35,484. Unrestricted net position in the Utility Fund totaled $3,023,863 at December 31, 2012. GENERAL FUND BUDGETARY HIGHLIGHTS The Village of Bensenville Council made no budget amendments to the General Fund during the year. General Fund actual revenues for the year totaled $19,753,476, compared to budgeted revenues of $19,062,160. As stated earlier, revenues for taxes, intergovernmental, licenses, permits and fees, and charges for services were significantly higher than budgeted. The General Fund actual expenditures for the year were $1,474,792 lower than budgeted ($16,405,088 actual compared to $17,879,880 budgeted). The general government, public safety, public works, culture and recreation, and community development functions’ actual expenditures were lower than budgeted expenditures by $532,196, $295,217, $523,779, $200,911 and $3,839, respectively. The debt service principal and interest expenditures of $81,150 were not budgeted. Overall, the Village undertook cost controlling measures during the year which resulted in actual expenditures that were below budget. Further, small improvements in the economy contributed to the higher intergovernmental revenues and permits and fees.
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