===== PDF PAGE 2 ===== [Extraction: OCR (rendered-page OCR)] CITY OF WEST CHICAGO — 475 Main Street FINANCE COMMITTEE MINUTES Regular Meeting April 27, 2023 1. Call to Order, Roll Call and Establishment of a Quorum. Alderman Dimas called the meeting to order at 6:00 p.m. on April 27, 2023. Roll call found Lori Chassee, Jayme Sheahan, Rebecca Stout, Sandy Dimas, Christine Dettmann, and Joseph C. Morano present. Alderman Christopher Swiatek was absent. Alderman Dimas announced a quorum. 2. Finance Committee Meeting Minutes of November 17, 2022. Alderman Stout made a motion, seconded by Alderman Morano, to approve the minutes of November 17, 2022. All Aldermen voted Aye by voice vote. Motion carried. 3. Public Participation/Presentations. Jasleen Kaur from Lauterbach & Amen presented the 2021 Fiscal Year Audit to the Committee members. Aldermen Chassee and Dimas both thanked staff for their hard work during the audit process. 4. Items for Consent A. Appoint Nikki Giles as the Named Principle Authority for All Illinois Funds Accounts B. Ordinance No. 23-0-0008 — Second Quarter 2023 Budget Amendment C. Ordinance No. 23-0-0009 —- Development Agreement with 1300 Roosevelt Investors LLC D. Resolution No. 23-R-0040 — Electronic Attendance Policy E. Ordinance No. 23-0-0010 — Personnel Manual City staff provided explanations for each of the five Consent Agenda Items. Alderman Chassee made a motion, seconded by Alderman Stout, to approve the above items. Voting Aye by Roll Call Vote: Chassee, Stout, Dimas, Dettmann, Morano, and Sheahan. Motion carried. 5. Items for Discussion. None 6. Unfinished Business. None 7. New Business — CAO Goals. Administrator Guttman reviewed the draft goals for the 2023 Calendar Year. Alderman Dettmann made a motion, seconded by Alderman Sheahan to approve the listed goals. Voting Aye by Roll Call Vote: Chassee, Stout, Dimas, Dettmann, Morano, and Sheahan. Motion carried. Alderman Dimas acknowledged Alderman Chassee’s 20+ years of service on the Finance Committee. ===== PDF PAGE 3 ===== [Extraction: OCR (rendered-page OCR)] 8. Reports by Staff. None 9. Executive Session (if needed). None 10. Adjournment. At 6:23 p.m., Alderman Chassee made a motion, seconded by Alderman Stout, to adjourn the meeting. All Aldermen voted Aye by voice vote. Respectfully submitted, Michael Guttman City Administrator ===== PDF PAGE 4 ===== [Extraction: OCR (rendered-page OCR)] CITY OF WEST CHICAGO, ILLINOIS ANNUAL COMPREHENSIVE FINANCIAL REPORT Cc 1 T 26 OQ F | west Curcaco| 1 L 1 1 N o I s FOR THE FISCAL YEAR ENDED DECEMBER 31, 2022 475 Main Street West Chicago, IL 60185 Phone: 630.293.2200 Fax: 630.293.3028 www.westchicago.org ===== PDF PAGE 5 ===== [Extraction: embedded PDF text] CITY OF WEST CHICAGO, ILLINOIS ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2022 Prepared by Nikki Giles Finance Director ===== PDF PAGE 6 ===== [Extraction: embedded PDF text] CITY OF WEST CHICAGO, ILLINOIS TABLE OF CONTENTS PAGE INTRODUCTORY SECTION Principal Officials 1 Organization Chart 2 Letter of Transmittal 3 FINANCIAL SECTION INDEPENDENT AUDITORS' REPORT 11 MANAGEMENT’S DISCUSSION AND ANALYSIS 15 BASIC FINANCIAL STATEMENTS Government-Wide Financial Statements Statement of Net Position 28 Statement of Activities 30 Fund Financial Statements Balance Sheet – Governmental Funds 32 Reconciliation of Total Governmental Fund Balance to the Statement of Net Position – Governmental Activities 34 Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds 36 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances to the Statement of Activities – Governmental Activities 38 Statement of Net Position – Proprietary Funds 40 Statement of Revenues, Expenses, and Changes in Net Position – Proprietary Funds 42 Statement of Cash Flows – Proprietary Funds 43 Statement of Fiduciary Net Position 44 Statement of Changes in Fiduciary Net Position 45 Notes to Financial Statements 46 REQUIRED SUPPLEMENTARY INFORMATION Schedule of Employer Contributions Illinois Municipal Retirement Fund 83 Police Pension Fund 84 ===== PDF PAGE 7 ===== [Extraction: embedded PDF text] CITY OF WEST CHICAGO, ILLINOIS TABLE OF CONTENTS PAGE FINANCIAL SECTION – Continued REQUIRED SUPPLEMENTARY INFORMATION – Continued Schedule of Changes in the Employer’s Net Pension Liability/(Asset) Illinois Municipal Retirement Fund 86 Police Pension Fund 88 Schedule of Investment Returns Police Pension Fund 90 Schedule of Changes in the Employer’s Total OPEB Liability Retiree Benefits Plan 92 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual General Fund 94 Public Benefit - Special Revenue Fund 95 TIF Special Tax Allocation #1 – Special Revenue Fund 96 OTHER SUPPLEMENTARY INFORMATION Schedule of Revenues – Budget and Actual – General Fund 100 Schedule of Expenditures – Budget and Actual – General Fund 102 Schedule of Detailed Expenditures – Budget and Actual – General Fund 103 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Capital Improvement - Capital Projects Fund 111 Schedule of Expenditures – Budget and Actual Capital Improvement – Capital Projects Fund 112 Combining Balance Sheet – Nonmajor Governmental Funds 113 Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Governmental Funds 115 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual TIF Special Tax Allocation #2 – Special Revenue Fund 117 TIF Special Tax Allocation #3 – Special Revenue Fund 118 Motor Fuel Tax – Special Revenue Fund 119 Capital Equipment Replacement – Capital Projects Fund 120 Schedule of Revenues, Expenses and Changes in Net Position – Budget and Actual Waterworks – Enterprise Fund 121 Schedule of Operating Expenses – Budget and Actual – Waterworks – Enterprise Fund 122 Schedule of Revenues, Expenses and Changes in Net Position – Budget and Actual Sewerage – Enterprise Fund 125 ===== PDF PAGE 8 ===== [Extraction: embedded PDF text] CITY OF WEST CHICAGO, ILLINOIS TABLE OF CONTENTS PAGE FINANCIAL SECTION – Continued OTHER SUPPLEMENTARY INFORMATION – Continued Schedule of Operating Expenses – Budget and Actual – Sewerage – Enterprise Fund 126 Schedule of Revenues, Expenses and Changes in Net Position – Budget and Actual Commuter Parking – Enterprise Fund 128 Schedule of Operating Expenses – Budget and Actual – Commuter Parking – Enterprise Fund 129 STATISTICAL SECTION (Unaudited) Net Position by Component – Last Ten Fiscal Years 132 Changes in Net Position – Last Ten Fiscal Years 134 Fund Balances of Governmental Funds – Last Ten Fiscal Years 136 General Governmental Revenues by Sources – Last Ten Fiscal Years 138 General Governmental Expenditures by Function – Last Ten Fiscal Years 140 Changes in Fund Balances for Governmental Funds – Last Ten Fiscal Years 142 Assessed Value and Actual Value of Taxable Property Last Ten Fiscal Years 144 Direct and Overlapping Property Tax Rates – Last Ten Tax Levy Years 146 Principal Property Tax Payers – Current Fiscal Year and Nine Fiscal Years Ago 148 Property Tax Levies and Collections – Last Ten Fiscal Years 149 Ratios of Outstanding Debt by Type – Last Ten Fiscal Years 150 Ratio of General Bonded Debt Outstanding – Last Ten Fiscal Years 151 Schedule of Direct and Overlapping Governmental Activities Debt 152 Schedule of Legal Debt Margin 153 Pledged Revenue Coverage – Last Ten Fiscal Years 154 Demographic and Economic Statistics – Last Ten Fiscal Years 155 Principal Employers – Current Fiscal Year and Nine Fiscal Years Ago 156 Full-Time Equivalent City Government Employees by Function – Last Ten Fiscal Years 158 Operating Indicators by Function/Program – Last Ten Fiscal Years 160 Capital Asset Statistics by Function/Program – Last Ten Fiscal Years 162 ===== PDF PAGE 9 ===== [Extraction: embedded PDF text] INTRODUCTORY SECTION This section includes miscellaneous data regarding the City of West Chicago including: • List of Principal Officials • Organizational Chart • Letter of Transmittal ===== PDF PAGE 10 ===== [Extraction: embedded PDF text] CITY OF WEST CHICAGO, ILLINOIS List of Principal Officials December 31, 2022 LEGISLATIVE City Mayor: Ruben Pineda ALDERMEN James Beifuss Joseph Morano Heather Brown Jayme Sheahan Lori Chassee Jeanne Short Matthew Garling Melissa Birch Ferguson Sandra Dimas Alton Hallett Christine Dettmann Rebecca Stout John Jakabcsin Christopher Swiatek ADMINISTRATIVE City Administrator: Michael L. Guttman FINANCE Finance Director: Nikki Giles 1 ===== PDF PAGE 11 ===== [Extraction: embedded PDF text] #&3 B!C '!#B 0 % &'5678:;<=>75?65@A: 5cdefg7@;; ;colokhz| LGXXESJIH[ LJM\]OF^OST 5fyysocde }h~htfyhodz€ ftckhz‚ƒ s„tck