village of wauconda regular village board meeting …

VILLAGE OF WAUCONDA

REGULAR VILLAGE BOARD MEETING 101 N. MAIN STREET - WAUCONDA, IL

October 19, 2021

6:00 P.M.

COVID-19 NOTICE: All persons attending the meeting will be required to observe the CDC published guidelines for face masks for vaccinated and non-vaccinated individuals. Those not willing or able to physically attend in-person may view this meeting remotely via YouTube Live Stream at the following web address: https://youtu.be/KeAWTbfNUQw

AGENDA

1. CALL TO ORDER 2. PLEDGE OF ALLEGIANCE 3. ROLL CALL

4. RECOGNITION

A. Nancy Burton B. Chief David Wermes

5. PROCLAMATION – RED RIBBON WEEK 6. PUBLIC COMMENT:

For in-person attendance: Citizens wishing to address the Village Board on any topic of Village business may do so during the public comment section near the beginning of the agenda after requesting to speak by completing the sign-in form near the entrance to the Board room. Please keep remarks concise. Individual speakers will be limited to three minutes. All audience participation must be recognized by the Mayor including questions to other Board members, staff or petitioners. When there is a controversial issue or large group present, the Mayor may limit the total amount of time allocated to those who want to speak and all who speak are asked to comply with the established time limit. For remote attendance: To accommodate members of the public that attend the meeting remotely, public comment may be submitted via email. Public comments received by 6:00 p.m., Tuesday, October 19, 2021 will be read at the beginning of the meeting under Public Comment.

7. APPROVAL OF AGENDA

(Last Ordinance No. was 2021-O-16) (Last Resolution No. was 2021-R-32)

https://youtu.be/KeAWTbfNUQw

8. MOTION TO APPROVE CONSIDERATION OF CONSENT AGENDA BY OMNIBUS VOTE

9. CONSENT AGENDA

A. Approval of the Bills for Payment from September 24, 2021 to October 9, 2021 in the Amount of $802,789.13

B. Approval of the Minutes of the October 5, 2021 Regular Village Board Meeting C. Approval of a Stipend for Interim Village Administratir Duties Performed

10. MOTION TO APPROVE ITEMS A THROUGH C ON THE CONSENT AGENDA

11. OLD BUSINESS A. Consideration and Approval of Mayor Sode’s Appointments for Village Administrator –

Allison Matson 12. NEW BUSINESS

A. Presentation – Annual Comprehensive Financial Report/Audit for the Fiscal Year Ended April 30, 2021

B. Adoption of Municipal Ordinance Creating Chapter 117 Contractors Registration

13. MAYOR’S REPORT 14. COMMITTEE REPORTS & TRUSTEE COMMENTS

15. EXECUTIVE SESSION

16. ADJOURNMENT

Posted 10/17/2021

The Mayor and Board of Trustees welcome you to the “Regular Village Board Meeting”. These meetings take place the first and third Tuesday of every month. During Regular Board meetings, a consent agenda is presented to the Board for a vote. All items under the consent agenda are considered to be settled and will be enacted by one motion. There will be no additional discussion of these items unless there is a request by a Board member. The documents provided with the Board Meeting agenda are for informational purposes only. Until or unless the Village Board votes on a matter contained on the agenda, the matter is not final.

PROCLAMATION

VILLAGE OF WAUCONDA

RED RIBBON WEEK

WHEREAS, alcohol and drug abuse in this nation have reached epidemic stages; and WHEREAS, it is imperative that visible, unified prevention education efforts by community members be launched to eliminate the demand for drugs; and WHEREAS, the National Red Ribbon Campaign offers citizens the opportunity to demonstrate their commitment to drug-free lifestyles (no use of illegal drugs, no illegal use of legal drugs); and WHEREAS, the National Red Ribbon Campaign will be celebrated in every community in America during Red Ribbon Week, October 23-31; and WHEREAS, the community of Wauconda, Illinois supports and encourages our community’s Choose Your Path Coalition and their efforts to ensure the success of the Red Ribbon Campaign. NOW, THEREFORE, BE IT SAID, that I, Jeff A. Sode, Mayor of the Village of Wauconda, in the County of Lake, in the State of Illinois, do hereby proclaim October 23-31 as Red Ribbon Week, and encourage its citizens to participate in drug prevention education activities, not only during Red Ribbon Week, but all year long, making a visible statement that we are strongly committed to a drug-free Wauconda, Illinois.

PROCLAIMED this 19th day of October, 2021. __________________________________________ Jeff A. Sode, Mayor

ATTEST:

______________________________________

Clerk

Vendor Fund CK NO.

ACH

GF 99257

WS Wire

WS Wire

General Fund (10)

Water Sewer Fund (20)

Capital Fund (30)

TIF Fund (32)

Motor Fuel Tax Fund (55)

SSA #1 (72)

Debt Service (80)

Total Automated AP

Projects Memo Only

Lake Michigan Water (28) ‐$ Included in Water/Sewer Fund (20) Above

North Water Project (25) 28,859.76$ Included in Water/Sewer Fund (20) Above

TOTAL ACCOUNTS PAYABLE

Payroll 10/6/2021 248,382.32$

TOTAL ACCOUNTS PAYABLE AND PAYROLL

GO Bond Refunding 2021A 83,568.50

230,337.50$

$802,789.13

20,747.15$

‐$

‐$

‐$

‐$

$554,406.81

147,211.92$

Total Combined Fund 324,069.31$

Village Accounts Payable

Accounts Payable by Fund

62,378.43$

265.00

157,494.20

Reimburse for Postage for Village Newsletter

GO Bond Refunding 2021B

Medical, Dental & Life Insurance Premiums ‐ Employee and Employer

President

Accounts Payable Period: 9/25/2021 ‐ 10/9/2021

The President and Board of Trustees of the Village of Wauconda approves Warrant as stated below and authorizes the Village Treasurer to forward payment this 19th day of October, 2021

___________________________________________

RECAPITULATIONManual Checks and ACH Payments

Description Amount

Manual Check ‐ Alise Coulter

The Bank of New York Mellon


IPBC Insurance 82,741.61

AP Treasurer's Report

List of Bills by Vendor

Board Meeting Date:

October 19, 2021

Vendor Fund Department Account No. Account Description Amount Item Description

Patrick Abney

General Fund Police 10‐12‐4510 Training/Conferences 40.63 Lunches ‐ 4 Day Police Firearms Instructor Course ‐ P Abney

Total for Vendor 40.63

Ace Hardware

General Fund Police 10‐12‐5330 Maintenance ‐ Vehicles 6.29 Vehicle Key FOB Battery ‐ P.D.

General Fund Public Works ‐ Streets 10‐13‐6130 Operating Supplies/Equipment 7.18 Painter's Tape, Scraper ‐ P.W.

General Fund Police 10‐12‐6140 Office Supplies/Equipment 17.79 Tarps for Records at CAC ‐ P.D.

General Fund Public Works ‐ Streets 10‐13‐6130 Operating Supplies/Equipment 16.06 Fasteners & Washers ‐ P.W.

Water & Sewer Fund Water 20‐20‐6130 Operating Supplies/Equipment 16.66 Fasteners ‐ P.W.

General Fund Police 10‐12‐5330 Maintenance ‐ Vehicles 4.49 Copy of Key Made ‐ P.D.

General Fund Public Works ‐ Streets 10‐13‐6130 Operating Supplies/Equipment 33.28 CableTies, Butane Torch ‐ P.W.

General Fund Police 10‐12‐5310 Maintenance‐Building & Grounds 17.98 2 Floresent Light Bulbs ‐ P.D.

Water & Sewer Fund Water 20‐20‐6130 Operating Supplies/Equipment 6.29 85 Oz. Lighter Fluid ‐ P.W.

General Fund Public Works ‐ Streets 10‐13‐6130 Operating Supplies/Equipment 16.18 2 Lithium Batteries ‐ P.W.

General Fund Public Works ‐ Streets 10‐13‐6130 Operating Supplies/Equipment 24.29 Trimmer Head ‐ P.W.

General Fund Public Works ‐ Streets 10‐13‐6130 Operating Supplies/Equipment 14.99 LED Bulb ‐ P.W.

Water & Sewer Fund Water 20‐20‐6130 Operating Supplies/Equipment 7.17 2 Hose Clamps, Nylon Elbow ‐ P.W.

Water & Sewer Fund Sewer 20‐21‐6130 Operating Supplies/Equipment 163.32 Pine‐Sol,Center Hose,Rust Remover,Re‐Fill Soft Soap,Mopstick


Air Comfort LLC

General Fund Public Works ‐ Streets 10‐13‐5310 Maintenance‐Building & Grounds 787.20 Service/Repair to CAC Building

General Fund Administration 10‐10‐5310 Maintenance‐Building & Grounds 405.00 Service/Repair to HVAC at Village Hall

Water & Sewer Fund Sewer 20‐21‐5310 Maintenance‐Building & Grounds 785.76 Service/Repair to HVAC at WWTP

Total for Vendor 1,977.96

Rick Altergott

Water & Sewer Fund Wastewater Collection 20‐27‐5340 Maintenance ‐ Infrastructure 350.00 Reimburse Resident for Repair to Sewer Liner Caused Back Up




Board Meeting Date:

October 19, 2021


AMAZON

General Fund Police 10‐12‐6130 Operating Supplies/Equipment 79.99 External Drive ‐ P.D.

General Fund Police 10‐12‐6130 Operating Supplies/Equipment 139.25 External Drive ‐ P.D.

General Fund Police 10‐12‐6130 Operating Supplies/Equipment 9.99 USB Cable ‐ P.D.

General Fund Police 10‐12‐4280 Expense Allowance 101.96 2 Pr Uniform Pants,T‐Shirts,Light Jacket ‐ RR #122 ‐ P.D.

General Fund Administration 10‐10‐6250 Civic Donations 138.75 Candy for Homecoming ‐ P.D.

General Fund Administration 10‐10‐6250 Civic Donations 37.98 Candy for Homecoming ‐ P.D.

General Fund Police 10‐12‐6140 Office Supplies/Equipment 57.92 Trash Bags, Paper Towels, Tabs ‐ P.D.

General Fund Police 10‐12‐6140 Office Supplies/Equipment 217.78 Trash Bags, Paper Towels, Tabs ‐ P.D.

General Fund Police 10‐12‐4280 Expense Allowance 81.13 Gloves for Duty ‐ Weglarek ‐ P.D.

General Fund Police 10‐12‐4280 Expense Allowance 99.00 2 Pr.Uniform Pants ‐ Weglarek ‐ P.D.

General Fund Police 10‐12‐4280 Expense Allowance 20.68 Duty Gloves ‐ Weglarek ‐ P.D.

General Fund Administration 10‐10‐6140 Office Supplies/Equipment 9.98 Halloween Decorations ‐ Admin.

General Fund Administration 10‐10‐6140 Office Supplies/Equipment 23.99 Phone Case & Protector ‐ Admin.

General Fund Administration 10‐10‐6140 Office Supplies/Equipment 67.26 Cardstock Signs ‐ Admin.

General Fund Administration 10‐10‐6140 Office Supplies/Equipment 22.87 Phone Case & Protector ‐ Admin.

General Fund Police 10‐12‐6130 Operating Supplies/Equipment 79.98 2 Lap Top Cases ‐ P.D.

General Fund Police 10‐12‐6140 Office Supplies/Equipment 59.98 Toilet Paper, Halloween Candy ‐ P.D.


General Fund Police 10‐12‐6130 Operating Supplies/Equipment 29.99 Jail Cell Blanket & Pillow ‐ P.D.

General Fund Police 10‐12‐6130 Operating Supplies/Equipment 46.08 Jail Cell Blanket & Pillow ‐ P.D.

General Fund Police 10‐12‐6140 Office Supplies/Equipment 15.08 Creamer, Rport Covers ‐ P.D.



A To Z Engraving Company Inc

General Fund Administration 10‐10‐6260 Employee Recognition 67.00 2 Name Badges,2 Name Plates, Plaque for Allison & Mike Reynolds


Azavar Audit Solutions

General Fund No Department 10‐00‐3260 Utility Tax ‐ Electric 54.91 Electric Utility Audit ‐ #22 of 36

General Fund No Department 10‐00‐3270 Utility Tax ‐ Gas 22.76 Nicor Gas Utility Audit ‐ #25 of 36


Backflow Solutions Inc

Water & Sewer Fund Water 20‐20‐5620 Maint/Lease Agreements 495.00 Annual Backflow Online Fee ‐ P,W,




Board Meeting Date:

October 19, 2021


Baker Peter and Son Company

General Fund Public Works ‐ Streets 10‐13‐5344 Pavement Patching 418.17 Asphalt Delivered for Pavement Patching ‐ P.W.



Water & Sewer Fund Water 20‐20‐7202 2021A GO Alt Rev Bnd‐Interest 3,341.12 General Obligation Refunding Bonds 2021A ‐ Interest


Batteries Plus Bulbs

General Fund Police 10‐12‐6130 Operating Supplies/Equipment 7.15 2 Pk 12 Volt Batteries ‐ P.D.


Benchmark Sales and Service of Illinois I

Water & Sewer Fund Wastewater Collection 20‐27‐5320 Maintenance ‐ Equipment 6,050.00 Repairs to Lift Station #11 ‐ P.W.


Burris Equipment Company

General Fund Public Works ‐ Streets 10‐13‐5631 Service Fees ‐ Other 300.00 Chipper Rental ‐ P.W.


Call One Inc

General Fund Public Works ‐ Streets 10‐13‐5510 Telephone/Internet 163.99 Telephone/Internet Expense ‐ 10/15 to 11/14/21 ‐ P.W.

General Fund EMA 10‐16‐5510 Telephone/Internet 473.40 Telephone/Internet Expense ‐ 10/15 to 11/14/21 ‐ P.W.

Water & Sewer Fund Water 20‐20‐5510 Telephone/Internet 163.99 Telephone/Internet Expense ‐ 10/15 to 11/14/21 ‐ P.W.

Water & Sewer Fund Sewer 20‐21‐5510 Telephone/Internet 82.02 Telephone/Internet Expense ‐ 10/15 to 11/14/21 ‐ P.W.

Water & Sewer Fund Wastewater Collection 20‐27‐5510 Telephone/Internet 82.02 Telephone/Internet Expense ‐ 10/15 to 11/14/21 ‐ P.W.


Casten Body Shop Inc

General Fund Police 10‐12‐5330 Maintenance ‐ Vehicles 6,070.78 Repair Damage to Squad #115 ‐ P.D.


Central Lake County Joint Action Water

Water & Sewer Fund Water 20‐20‐6345 CLCJAWA Water Purchase 49,146.13 Monthly Water Usage ‐ Sept.2021




Board Meeting Date:

October 19, 2021


Ciox Health

General Fund Police 10‐12‐5631 Service Fees ‐ Other 23.35 Health Screening ‐ R Dunski ‐ P.D.


College of DuPage

General Fund Police 10‐12‐4510 Training/Conferences 3,960.60 Academy Training ‐ L Meyer‐Volinek, CSO Training ‐ T Thomas


ComEd

General Fund Public Works ‐ Streets 10‐13‐5340 Maintenance ‐ Infrastructure 10.12 Electric Utility ‐ Street Lighting ‐ 8/23 to 9/22/21


ComEd

General Fund Public Works ‐ Streets 10‐13‐5430 Utility ‐ Street Lighting 51.16 Electric Utility ‐ Street Lighting ‐ 8/18 to 9/17/21


Concentric Integration LLC

Water & Sewer Fund Water 20‐20‐5320 Maintenance ‐ Equipment 1,957.50 SCADA Support Service ‐ Aug.2021 ‐ P.W.

Water & Sewer Fund Sewer 20‐21‐5320 Maintenance ‐ Equipment 1,597.27 SCADA Support Service ‐ Aug.2021 ‐ P.W.

Water & Sewer Fund Water 20‐20‐5320 Maintenance ‐ Equipment 3,006.28 SCADA Support Service for Water Dept. ‐ Aug.2021 ‐ P.W.

Water & Sewer Fund Sewer 20‐21‐5340 Maintenance ‐ Infrastructure 2,055.00 Post Aeration Cellular Upgrade ‐ P.W.


Cutler Workwear

General Fund Public Works ‐ Streets 10‐13‐4280 Expense Allowance 157.46 Work Boots ‐ J Lowe ‐ P.W.

General Fund Public Works ‐ Streets 10‐13‐6130 Operating Supplies/Equipment 62.09 Winter Coat for New Employee ‐ Non Uniform Expense ‐ P.W.

General Fund Public Works ‐ Streets 10‐13‐4280 Expense Allowance 125.96 Work Boots ‐ F Burton ‐ P.W.

Water & Sewer Fund Wastewater Collection 20‐27‐4280 Expense Allowance 135.87 3 Pr Uniform Jeans ‐ J Spratt ‐ P.W.


De Lage Landen Financial Services Inc

General Fund Public Works ‐ Streets 10‐13‐5620 Maint/Lease Agreements 100.10 Office Copier Monthly Lease ‐ 10/15‐11/14/21 ‐ P.W.

Water & Sewer Fund Water 20‐20‐5620 Maint/Lease Agreements 100.10 Office Copier Monthly Lease ‐ 10/15‐11/14/21 ‐ P.W.

Water & Sewer Fund Sewer 20‐21‐5620 Maint/Lease Agreements 100.10 Office Copier Monthly Lease ‐ 10/15‐11/14/21 ‐ P.W.




Board Meeting Date:

October 19, 2021


Eder Casella and Company

General Fund Administration 10‐10‐5135 Payroll Services Contract* 117.90 Payroll Service ‐ Sept.2021

General Fund Community Development 10‐11‐5135 Payroll Services Contract* 100.48 Payroll Service ‐ Sept.2021

General Fund Police 10‐12‐5135 Payroll Services Contract* 928.01 Payroll Service ‐ Sept.2021

General Fund Public Works ‐ Streets 10‐13‐5135 Payroll Services Contract* 175.74 Payroll Service ‐ Sept.2021

General Fund EMA 10‐16‐5135 Payroll Services Contract* 5.56 Payroll Service ‐ Sept.2021

General Fund Marine / Lake Mgmt 10‐50‐5135 Payroll Services Contract* 29.29 Payroll Service ‐ Sept.2021

Water & Sewer Fund Water 20‐20‐5135 Payroll Services Contract* 244.33 Payroll Service ‐ Sept.2021

Water & Sewer Fund Sewer 20‐21‐5135 Payroll Services Contract* 140.52 Payroll Service ‐ Sept.2021

Water & Sewer Fund Wastewater Collection 20‐27‐5135 Payroll Services Contract* 111.97 Payroll Service ‐ Sept.2021


Environmental Systems Research Institu

General Fund Public Works ‐ Streets 10‐13‐5132 Software/Licensing 984.00 GIS Desktop Software Renewal ‐ P.W.

Water & Sewer Fund Water 20‐20‐5132 Software/Licensing 984.00 GIS Desktop Software Renewal ‐ P.W.

Water & Sewer Fund Sewer 20‐21‐5132 Software/Licensing 984.00 GIS Desktop Software Renewal ‐ P.W.


First Bankcard

General Fund Administration 10‐10‐5540 Subscriptions 0.99 Chicago Tribune Online Subscription ‐ Admin.

General Fund Administration 10‐10‐6185 Officials Expense 349.56 I‐Pad for New Trustee Nicole Ferrier

General Fund Administration 10‐10‐5540 Subscriptions 38.00 LOGMEIN Go To Meeting ‐ Virtual Meetings

General Fund Public Works ‐ Streets 10‐13‐5631 Service Fees ‐ Other 325.00 American Public Works ‐ MST Job Posting

General Fund Administration 10‐10‐5520 Public Information Materials 989.10 Pro Imprint ‐ Phone Number Magnets for Residents

General Fund Escrows 10‐98‐E558 Wauconda Cruise Nights 152.50 Cruise Night Plaques


Fox Valley Fire And Safety

General Fund Police 10‐12‐5310 Maintenance‐Building & Grounds 330.00 Annual Fire Alarm System Inspection ‐ P.D.


Christopher Gallivan

General Fund Police 10‐12‐4510 Training/Conferences 144.46 Reimburse for Staff & Command Training ‐ C Gallivan ‐ P.D.




Board Meeting Date:

October 19, 2021


Gil Plumbing Inc

General Fund Community Development 10‐11‐5170 Plumbing Inspections 75.00 Plumbing Inspection ‐ 1203 E Bonner Rd

General Fund Community Development 10‐11‐5170 Plumbing Inspections 90.00 Plumbing Inspection ‐ 1205 N Garland Rd

General Fund Community Development 10‐11‐5170 Plumbing Inspections 75.00 Plumbing Inspection ‐ 2517 Bluewater Dr

General Fund Community Development 10‐11‐5170 Plumbing Inspections 75.00 Plumbing Inspection ‐ 515 Brown St


Gloria Aldazaba

General Fund Police 10‐12‐5310 Maintenance‐Building & Grounds 1,470.00 Janitorial Service ‐ Oct.2021 ‐ P.D.




Board Meeting Date:

October 19, 2021


GO Technology Group Inc

General Capital ProjectFixed Asset‐R/R Police 30‐64‐8600 Fixed‐Asset R/R ‐ PD 7,467.00 FY 22 IT ‐ Workstation Replacements

General Capital ProjectFixed Asset‐R/R Admin 30‐62‐8600 Fixed‐Asset R/R ‐ Admin 5,370.00 FY 22 IT ‐ Workstation Replacements

General Capital ProjectFixed Asset‐R/R Comm. Dev. 30‐63‐8600 Fixed‐Asset R/R ‐ Comm. Dev. 2,097.00 FY 22 IT ‐ Workstation Replacements

Water & Sewer Fund Fixed Asset‐R/R Water 20‐17‐8600 Fixed Asset‐R/R Water 7,338.00 FY 22 IT ‐ Workstation Replacements

Water & Sewer Fund Fixed Asset‐R/R WWTP 20‐18‐8600 Fixed Asset‐R/R WWTP 524.00 FY 22 IT ‐ Workstation Replacements

Water & Sewer Fund Fixed Asset‐R/R WW Collecti 20‐19‐8600 Fixed Asset‐R/R WW Collections 524.00 FY 22 IT ‐ Workstation Replacements

General Capital ProjectFixed Asset‐R/R Police 30‐64‐8600 Fixed‐Asset R/R ‐ PD 128.00 FY 22 IT ‐ Work Station Replacements

General Capital ProjectFixed Asset‐R/R Admin 30‐62‐8600 Fixed‐Asset R/R ‐ Admin 92.00 FY 22 IT ‐ Work Station Replacements

General Capital ProjectFixed Asset‐R/R Comm. Dev. 30‐63‐8600 Fixed‐Asset R/R ‐ Comm. Dev. 36.00 FY 22 IT ‐ Work Station Replacements

Water & Sewer Fund Fixed Asset‐R/R Water 20‐17‐8600 Fixed Asset‐R/R Water 126.00 FY 22 IT ‐ Work Station Replacements

Water & Sewer Fund Fixed Asset‐R/R WWTP 20‐18‐8600 Fixed Asset‐R/R WWTP 9.00 FY 22 IT ‐ Work Station Replacements

Water & Sewer Fund Fixed Asset‐R/R WW Collecti 20‐19‐8600 Fixed Asset‐R/R WW Collections 9.00 FY 22 IT ‐ Work Station Replacements

General Fund Administration 10‐10‐5510 Telephone/Internet 55.65 Annual Switchvox Platinum Support/Maint.& Std.UCLSSL Cert.Renew.

General Fund Community Development 10‐11‐5510 Telephone/Internet 47.43 Annual Switchvox Platinum Support/Maint.& Std.UCLSSL Cert.Renew.

General Fund Public Works ‐ Streets 10‐13‐5510 Telephone/Internet 82.95 Annual Switchvox Platinum Support/Maint.& Std.UCLSSL Cert.Renew.

General Fund EMA 10‐16‐5510 Telephone/Internet 2.63 Annual Switchvox Platinum Support/Maint.& Std.UCLSSL Cert.Renew.

Water & Sewer Fund Water 20‐20‐5510 Telephone/Internet 115.41 Annual Switchvox Platinum Support/Maint.& Std.UCLSSL Cert.Renew.

Water & Sewer Fund Sewer 20‐21‐5510 Telephone/Internet 66.33 Annual Switchvox Platinum Support/Maint.& Std.UCLSSL Cert.Renew.

Water & Sewer Fund Wastewater Collection 20‐27‐5510 Telephone/Internet 52.83 Annual Switchvox Platinum Support/Maint.& Std.UCLSSL Cert.Renew.

General Fund Police 10‐12‐5510 Telephone/Internet 701.77 Annual Switchvox Platinum Support/Maint.& Std.UCLSSL Cert.Renew.

General Fund Community Development 10‐11‐5130 IT Services 222.60 Monthly IT Service ‐ Oct.2021

General Fund Community Development 10‐11‐5130 IT Services 189.70 Monthly IT Service ‐ Oct.2021

General Fund Police 10‐12‐5130 IT Services 1,752.10 Monthly IT Service ‐ Oct.2021

General Fund Public Works ‐ Streets 10‐13‐5130 IT Services 331.80 Monthly IT Service ‐ Oct.2021

General Fund EMA 10‐16‐5130 IT Services* 10.50 Monthly IT Service ‐ Oct.2021

General Fund Marine / Lake Mgmt 10‐50‐5130 IT Services 55.30 Monthly IT Service ‐ Oct.2021

Water & Sewer Fund Water 20‐20‐5130 IT Services 461.30 Monthly IT Service ‐ Oct.2021

Water & Sewer Fund Sewer 20‐21‐5130 IT Services 265.30 Monthly IT Service ‐ Oct.2021

Water & Sewer Fund Wastewater Collection 20‐27‐5130 IT Services 211.40 Monthly IT Service ‐ Oct.2021

General Fund Administration 10‐10‐5132 Software/Licensing 54.03 Microsoft 365 Monthly Subscription ‐ Oct.2021

General Fund Community Development 10‐11‐5132 Software/Licensing 46.04 Microsoft 365 Monthly Subscription ‐ Oct.2021

General Fund Police 10‐12‐5132 Software/Licensing 425.26 Microsoft 365 Monthly Subscription ‐ Oct.2021

General Fund Public Works ‐ Streets 10‐13‐5132 Software/Licensing 80.53 Microsoft 365 Monthly Subscription ‐ Oct.2021

General Fund EMA 10‐16‐5132 Software/Licensing 2.56 Microsoft 365 Monthly Subscription ‐ Oct.2021

General Fund Marine / Lake Mgmt 10‐50‐5132 Software/Licensing 13.42 Microsoft 365 Monthly Subscription ‐ Oct.2021

Water & Sewer Fund Water 20‐20‐5132 Software/Licensing 111.96 Microsoft 365 Monthly Subscription ‐ Oct.2021

Water & Sewer Fund Sewer 20‐21‐5132 Software/Licensing 64.39 Microsoft 365 Monthly Subscription ‐ Oct.2021

Water & Sewer Fund Wastewater Collection 20‐27‐5132 Software/Licensing 51.31 Microsoft 365 Monthly Subscription ‐ Oct.2021




Board Meeting Date:

October 19, 2021


Government Finance Officers Associatio

General Fund Administration 10‐10‐4510 Training/Conferences 490.00 Local Governemnt Budget CPE ‐ T Lyons


GovHR USA

General Fund Administration 10‐10‐5631 Service Fees ‐ Other 6,000.00 Recruitment Services for Director of Public Works

General Fund Administration 10‐10‐5631 Service Fees ‐ Other 6,730.78 Recruitment and Selection of Village Administrator


Griffon Systems Inc

General Fund Police 10‐12‐6130 Operating Supplies/Equipment 1,575.00 Surveilance Security System Software Upgrade ‐ P.D.


Alejandra Guerrero

General Fund Police 10‐12‐4510 Training/Conferences 15.00 Reimburse for Women in Business Lunch/Meeting ‐ Allie ‐ P.D.


Hinckley Spring Water Company

General Fund Public Works ‐ Streets 10‐13‐5620 Maint/Lease Agreements 37.92 Hot/Cold Drinking Water System ‐ P.W.

Water & Sewer Fund Water 20‐20‐5620 Maint/Lease Agreements 37.93 Hot/Cold Drinking Water System ‐ P.W.

Water & Sewer Fund Sewer 20‐21‐5620 Maint/Lease Agreements 37.93 Hot/Cold Drinking Water System ‐ P.W.


Hydrite Chemical Company

Water & Sewer Fund Sewer 20‐21‐6180 Treatment Chemicals 2,683.99 Treatment Chemicals ‐ P.W.

Water & Sewer Fund Sewer 20‐21‐6180 Treatment Chemicals 4,217.90 Treatment Chemicals ‐ P.W.


Hydraulic Services and Repairs Inc

Water & Sewer Fund Wastewater Collection 20‐27‐5330 Maintenance ‐ Vehicles 2,211.70 Repair to Crane Truck #33 ‐ P.W.


ICON Graphics

General Fund EMA 10‐16‐6130 Operating Supplies/Equipment 174.00 14 Sport Shirts Printed with CERT Logo




Board Meeting Date:

October 19, 2021


Illinois Association of Chief's of Police

General Fund Police 10‐12‐4520 Dues/Memberships 265.00 Annual Membership Dues ‐ Chief Wermes


Illinois EPA (ACH)

Water & Sewer Fund North Water Project 20‐25‐7101 IEPA L17‐2739‐Principal 28,859.76 Drinking Water Project ‐ Principal Pmt. ‐ NWP


Impact Networking LLC

General Fund Community Development 10‐11‐5620 Maint/Lease Agreements 219.24 Copier Quarterly Maint. Agreement ‐ 9/23 to 12/22/21 ‐ C.D.

General Fund Community Development 10‐11‐5620 Maint/Lease Agreements 95.37 Office Copier Overage Charge ‐ 8/4 to 9/23/21 ‐ C.D.

General Fund Public Works ‐ Streets 10‐13‐5620 Maint/Lease Agreements 48.33 Office Copier Monthly Maint,Agreement ‐ 10/4 to 11/3/21 P.W.

Water & Sewer Fund Water 20‐20‐5620 Maint/Lease Agreements 48.33 Office Copier Monthly Maint.Agreement ‐ 10/4 to 11/3/21 P.W.

Water & Sewer Fund Sewer 20‐21‐5620 Maint/Lease Agreements 48.34 Office Copier Monthly Maint.Agreement ‐ 10/4 to 11/3/21 P.W.

General Fund Community Development 10‐11‐5620 Maint/Lease Agreements 400.00 Return Office Copier Fee ‐ C.D.


Interstate Billing Service Inc

General Fund Public Works ‐ Streets 10‐13‐5330 Maintenance ‐ Vehicles 2,204.89 Repairs to Unit #23 ‐ P.W.

General Fund Public Works ‐ Streets 10‐13‐5330 Maintenance ‐ Vehicles 5,267.47 Repairs to Unit #18 ‐ P.W.

General Fund Public Works ‐ Streets 10‐13‐5330 Maintenance ‐ Vehicles 1,201.26 Service/Repairs to Plow Truck #38 ‐ P.W.


Island Lake Auto Body and Paint Shop

Water & Sewer Fund Water 20‐20‐5330 Maintenance ‐ Vehicles 500.00 Repair to nWater Truck #5 ‐ P.W.


Kluber Architects and Engineers

General Capital ProjectCapital Projects 30‐71‐8500 General Capital Projects 1,137.50 New Municipal Study


Kristan Kolar

General Fund Police 10‐12‐4510 Training/Conferences 20.31 Reimburse for Lunches for 2 Day ARIDE Training ‐ K Kolar ‐ P.D.




Board Meeting Date:

October 19, 2021


Lechner Services

General Fund Police 10‐12‐5310 Maintenance‐Building & Grounds 76.12 Bi‐Monthly Floor Mat Cleaning at P.D.


LIONHEART Critical Power Specialists In

Water & Sewer Fund Water 20‐20‐5320 Maintenance ‐ Equipment 1,258.00 Generator Repair ‐ P.W.

Water & Sewer Fund Wastewater Collection 20‐27‐5320 Maintenance ‐ Equipment 800.98 Repairs to Lift Sttation #17 ‐ P.W.


Thomas Lyons

General Fund Administration 10‐10‐4520 Dues/Memberships 120.00 Reimburse for 3 Yr CPA License Renewal ‐ T Lyons


Mid American Water Of Wauconda

General Fund Public Works ‐ Streets 10‐13‐6130 Operating Supplies/Equipment 557.25 5 Manhole Hooks ‐ P.W.

Water & Sewer Fund Water 20‐20‐5340 Maintenance ‐ Infrastructure 1,102.00 Parts for Hydrant Repair ‐ P.W.

Water & Sewer Fund Water 20‐20‐5340 Maintenance ‐ Infrastructure 119.75 Hydrant Parts ‐ P.W.


Master Auto Repair Klinic Inc

General Fund Police 10‐12‐5330 Maintenance ‐ Vehicles 42.98 Oil & Filter Change ‐ Squad #110 ‐ P.D.

General Fund Police 10‐12‐5330 Maintenance ‐ Vehicles 18.98 Battery Shut Off ‐ Squad 120 ‐ P.D.


Peter McDermott

General Fund Public Works ‐ Streets 10‐13‐4280 Expense Allowance 31.00 Reimburse for CDL ‐ P McDermott ‐ P.W.


Menards Inc

General Fund Public Works ‐ Streets 10‐13‐6130 Operating Supplies/Equipment 86.19 Saw Blade,2 Trowels,Drywall,Primer ‐ P.W.

General Fund Public Works ‐ Streets 10‐13‐6130 Operating Supplies/Equipment 13.52 4‐ 2X4's ‐ P.W.

Water & Sewer Fund Water 20‐20‐6130 Operating Supplies/Equipment 51.94 5 Gal.Clorox Bleach,Shop Towels,4 Pc. Carpet ‐ P.W.

Water & Sewer Fund Water 20‐20‐6130 Operating Supplies/Equipment 2.49 Goof Off Remover Liquid,Goo Gone Auto,Shop Towels (43.67 credit)




Board Meeting Date:

October 19, 2021


Mid West Truckers Association Inc

General Fund Public Works ‐ Streets 10‐13‐5631 Service Fees ‐ Other 525.00 Annual Drug/Alcohol Testing ‐ P.W.

Water & Sewer Fund Water 20‐20‐5631 Service Fees ‐ Other 300.00 Annual Drug/Alcohol Testing ‐ P.W.

Water & Sewer Fund Sewer 20‐21‐5631 Service Fees ‐ Other 150.00 Annual Dru/Alcohol Testing ‐ P.W.


Mikes Towing Inc

Water & Sewer Fund Wastewater Collection 20‐27‐5330 Maintenance ‐ Vehicles 200.00 Towing Fee for Truck #33 ‐ P.W.


Minuteman Press

General Fund Administration 10‐10‐6110 Printing 107.55 FY 2022 Budget Books Reprint


Magna Rudolph F Law Office Of

General Fund Administration 10‐10‐5110 Legal Services 888.75 Legal Services ‐ Bachler Lawsuit

General Fund Administration 10‐10‐5110 Legal Services 1,125.75 Legal Services ‐ General Corporate Matters

General Fund Community Development 10‐11‐5110 Legal Services 355.50 Legal Services ‐ General Corporate Matters

General Fund Public Works ‐ Streets 10‐13‐5110 Legal Services 177.75 Legal Services ‐ General Corporate Matters


New Castle Electric Inc

Water & Sewer Fund Water 20‐20‐5320 Maintenance ‐ Equipment 7,578.00 New Starter for Well #9


North Shore Water Reclamation District

Water & Sewer Fund Sewer 20‐21‐5210 Lab Testing 800.00 Lab Testing Expense ‐ P.W.




Board Meeting Date:

October 19, 2021


Office Depot

General Fund Administration 10‐10‐6140 Office Supplies/Equipment 36.84 Case of Bath Tissue ‐ Admin.

General Fund Administration 10‐10‐6140 Office Supplies/Equipment 58.09 Ink Stamp ‐ Admin.

General Fund Police 10‐12‐6140 Office Supplies/Equipment 110.11 1 Case Copy Paper,Packing Tape,1 Pk Tape,Index Dividers

Water & Sewer Fund Water 20‐20‐6140 Office Supplies/Equipment 18.74 Wireless Desktop Mike ‐ P.W.

Water & Sewer Fund Water 20‐20‐6140 Office Supplies/Equipment 47.08 1 Box Sharpies, 1 Case Copy Paper ‐ P.W.

General Fund Public Works ‐ Streets 10‐13‐6140 Office Supplies/Equipment 499.99 Fax Machine/Printer ‐ P.W.


O Herron Ray Co Inc

General Fund Police 10‐12‐6130 Operating Supplies/Equipment 184.31 Blank Police Detective Badge


Otis Elevator Company

General Fund Police 10‐12‐5310 Maintenance‐Building & Grounds 156.54 Maintenance Service Contract ‐ 10/1 to 12/31/21 ‐ P.D.

General Fund Police 10‐12‐5310 Maintenance‐Building & Grounds 262.00 Test Elevator Hoistway Access at P.D.


Paddock Publications Inc

General Fund Escrows 10‐98‐0668 Wauconda Recycling 271.40 2 Public Hearing & Notices ‐ Wauconda Recycling ‐ C.D.


Pathmann Architects Inc

General Fund Escrows 10‐98‐E012 Pathmann ‐ Plan Review 150.00 Architect Plan Review ‐ 29092 W Roberts Rd ‐ Port Barrington

General Fund Escrows 10‐98‐E012 Pathmann ‐ Plan Review 400.00 Architect Plan Review ‐ 111 Kerry Ln


Petty Cash ‐ Police Department

General Fund Police 10‐12‐5631 Service Fees ‐ Other 50.00 Replenish McDonald's Prisoner Meal Card

General Fund Police 10‐12‐4510 Training/Conferences 62.58 Breakfast food for Staff Meeting at P.D.

General Fund Police 10‐12‐4510 Training/Conferences 15.00 Meal Expense During IL LEAP Conference ‐ Allie ‐ P.D.


PDC Laboratories Inc

Water & Sewer Fund Water 20‐20‐5210 Lab Testing 200.00 Lab Testing Expense ‐ P.W.




Board Meeting Date:

October 19, 2021


Reliable Sand and Gravel

General Fund Public Works ‐ Streets 10‐13‐5340 Maintenance ‐ Infrastructure 130.30 #6 Stone Delivered ‐ P.W.

Water & Sewer Fund Water 20‐20‐5340 Maintenance ‐ Infrastructure 130.30 #6 Stone Delivered ‐ P.W.


Start Group

General Fund Public Works ‐ Streets 10‐13‐4510 Training/Conferences 400.00 Trench Compliance Training ‐ P.W.

Water & Sewer Fund Water 20‐20‐4510 Training/Conferences 400.00 Trench Compliance Training ‐ P.W.

Water & Sewer Fund Sewer 20‐21‐4510 Training/Conferences 400.00 Trench Compliance Training ‐ P.W.


Streichers

General Fund Police 10‐12‐6130 Operating Supplies/Equipment 119.00 Flashlight and Charger ‐ CSO T Thomas ‐ P.D.

General Fund Police 10‐12‐4280 Expense Allowance 119.00 Flashlight and Charger ‐ L Meyer‐Volinek ‐ P.D.

General Fund Police 10‐12‐4280 Expense Allowance 47.00 Uniform Pants, ‐ L Meyer‐Volinek ‐ P.D.


Suburban Laboratories Inc





TG Signs and Graphics

General Capital ProjectSquad Car Replacement 30‐61‐8400 Squad Car Replacement 1,409.25 Graphics/Lettering on New Police Squad #112


Third Millennium Associates Inc

Water & Sewer Fund Water 20‐20‐5631 Service Fees ‐ Other 399.90 Green Pay Monthly Account Transaction and Server Fees Sept.2021

Water & Sewer Fund Sewer 20‐21‐5631 Service Fees ‐ Other 399.90 Green Pay Monthly Account Transaction and Server Fees Sept.2021


TOPS In Dog Training Corp

General Fund Police 10‐12‐4511 K9 Unit 357.00 Police Dog Boarding, Grooming and Narcotics Toy




Board Meeting Date:

October 19, 2021


EILEEN BURKE

Water & Sewer Fund No Department 20‐00‐1350 Accounts Payable 10.62 Refund Check

Water & Sewer Fund No Department 20‐00‐1350 Accounts Payable 43.74 Refund Check


Ultra Strobe Communications Inc

General Fund Police 10‐12‐5330 Maintenance ‐ Vehicles 101.95 Repair to Squad #111 ‐ P.D.

General Capital ProjectSquad Car Replacement 30‐61‐8400 Squad Car Replacement 3,010.40 Installation of Equipment on New Police Squad #112

General Fund Police 10‐12‐5330 Maintenance ‐ Vehicles 170.00 Repair to Lights on K‐9 Squad #119


USA Blue Book

General Fund Public Works ‐ Streets 10‐13‐6130 Operating Supplies/Equipment 33.54 Spray Nozzle for Pressure Washer ‐ P.W.

General Fund Public Works ‐ Streets 10‐13‐6130 Operating Supplies/Equipment 190.21 2 Power Time Monitors ‐ P.W.

Water & Sewer Fund Sewer 20‐21‐5210 Lab Testing 37.95 1 Box Nitrile Gloves ‐ P.W.


VCG Uniform

General Fund Police 10‐12‐6130 Operating Supplies/Equipment 491.80 4 Uniform Shirts, 2 Bike Shirts and Pants for Bike Patrol‐Moyer


Victor Ford

Water & Sewer Fund Wastewater Collection 20‐27‐5330 Maintenance ‐ Vehicles 1,187.04 Repairs to Truck #33 ‐ P.W.


Village of Port Barrington

General Fund Escrows 10‐98‐0612 Port Barrington Violations Pd 150.00 Citations Collected July ‐ Sept.2021




Board Meeting Date:

October 19, 2021


Village of Wauconda

General Fund Administration 10‐10‐5440 Utility ‐ Water/Sewer 205.68 Water/Sewer Utility ‐ May thru Oct.2021 ‐ V.H.

General Fund Public Works ‐ Streets 10‐13‐5440 Utility ‐ Water/Sewer 205.68 Water/Sewer Utility ‐ May thru Oct.2021 ‐ CAC

General Fund Public Works ‐ Streets 10‐13‐5440 Utility ‐ Water/Sewer 428.50 Water/Sewer Utility ‐ May thru Oct.2021 ‐ P.W. Garage

Water & Sewer Fund Sewer 20‐21‐5440 Utility ‐ Water/Sewer 205.68 Water/Sewer Utility ‐ May thru Oct.2021 ‐ WWTP

General Fund Community Development 10‐11‐5440 Utility ‐ Water/Sewer 205.68 Water/Sewer Utility ‐ May thru Oct.2021 ‐ C.D.

Water & Sewer Fund Sewer 20‐21‐5440 Utility ‐ Water/Sewer 205.68 Water/Sewer Utility ‐ May thru Oct.2021 ‐ P.W.Chemical Building

Water & Sewer Fund Sewer 20‐21‐5440 Utility ‐ Water/Sewer 3,530.84 Water/Sewer Utility ‐ May thru Oct.2021 ‐ P.W.Pre‐Treatment

Water & Sewer Fund Sewer 20‐21‐5440 Utility ‐ Water/Sewer 205.68 Water/Sewer Utility ‐ May thru Oct.2021 ‐ P.W. Grit Building

General Fund Public Works ‐ Streets 10‐13‐5440 Utility ‐ Water/Sewer 205.68 Water/Sewer Utility ‐ May thru Oct.2021 ‐ P.W. Brine Building


Visu Sewer Of Illinois LLC

Water & Sewer Fund Wastewater Collection 20‐27‐5340 Maintenance ‐ Infrastructure 3,400.00 Re‐Open 3 Laterals on Larkdale Row ‐ P.W.


Warehouse Direct Workplace Solutions

General Fund Administration 10‐10‐6140 Office Supplies/Equipment 91.54 3 Boxes Pocket Folders,12 Legal Pads ‐ Admin.

General Fund Administration 10‐10‐6140 Office Supplies/Equipment 212.92 Laminated Pouches & Paper,Appt.Book,Notebooks ‐ Admin.

General Fund Administration 10‐10‐6140 Office Supplies/Equipment 9.75 Dry Erase Markers with Eraser ‐ Admin.


Wauconda School District 118

General Fund Public Works ‐ Streets 10‐13‐6150 Gasoline & Oil 1,219.64 Fuel Bill ‐ Sept.2021 ‐ P.W.

Water & Sewer Fund Water 20‐20‐6150 Gasoline & Oil 1,037.48 Fuel Bill ‐ Sept.2021 ‐ P.W.


Wauconda Boat Inc

General Fund Marine / Lake Mgmt 10‐50‐6150 Gasoline & Oil 414.09 Fuel for Marine Units ‐ Sept.2021

General Fund Marine / Lake Mgmt 10‐50‐5330 Maintenance ‐ Vehicles 140.00 Repair Nav Lights on Both Police Boats ‐ P.D.


Report Total: 230,337.50

Regular Session Meeting Minutes P a g e | 1 of 4 October 5, 2021

VILLAGE OF WAUCONDA REGULAR VILLAGE BOARD MEETING MINUTES

101 N. MAIN STREET - WAUCONDA, IL TUESDAY, OCTOBER 5, 2021 - 6:00 P.M.

1. CALL TO ORDER Mayor Sode called the Regular Village Board Meeting to order at 6:00 PM 2. PLEDGE OF ALLEGIANCE

The Posting of Colors and Pledge of Allegiance was led by Boy Scout Troop 90. 3. ROLL CALL

Upon Roll Call by Clerk Radcliffe, the following Trustees were present: Trustees Barbini, Howe, Schlick, Shaw, Kuhn, and Ferrier QUORUM PRESENT Also present: Dave Wermes (Chief of Police/Interim Village Administrator), Gregory Anderson (Director of Community Development), Jacob Mann (Public Works Superintendent)

4. PUBLIC COMMENT: There were no public comments.

5. APPROVAL OF AGENDA (Last Ordinance No. was 2021-O-16) (Last Resolution No. was 2021-R-31) Motion to Approve the Agenda made by Trustee Ferrier, seconded by Trustee Kuhn. Ayes 6, Nays 0 MOTION DECLARED CARRIED

6. MOTION TO APPROVE CONSIDERATION OF CONSENT AGENDA BY OMNIBUS VOTE

Motion to Approve Consideration of Consent Agenda by Omnibus Vote made by Trustee Kuhn, seconded by Trustee Shaw. Ayes 6, Nays 0 MOTION DECLARED CARRIED

7. CONSENT AGENDA

A. Approval of the Bills for Payment from September 11, 2021 to September 24, 2021 in the Amount of $1,000,376.24

B. Approval of the Minutes of the September 20, 2021 Regular Village Board Meeting C. Approval of Halloween Trick-or-Treat Hours from 4:00 PM to 8:00 PM on October 31 D. Approval of Various Street Closures Associated with the Trick or Treat Main Street,

Turkey Trot and Holiday Walk


E. Authorization to Execute a Lease Agreement Extension for 339 S. Main Street F. Approval of the Proposal from Rush Truck Center for the Purchase a 2023 International

Truck Cab & Chassis Through the State of Illinois (CMS) Joint Bidding Contract G. Approval of the Proposal from Monroe Truck Equipment for the Purchase a Dump Body

and Snow & Ice Control/Hydraulic Equipment up-fitting for a 2023 International 5-Ton Dump Truck Through the State of Illinois (CMS) Joint Bidding Contract

H. Approval of the Proposal from Currie Motors for the Purchase a 2022 Ford F-450 1-Ton Dump truck with Snow & Ice Control/Hydraulic Equipment Truck Through the Suburban Purchasing Cooperative (SPC) Joint Bidding Contract

8. MOTION TO APPROVE ITEMS A THROUGH H ON THE CONSENT AGENDA Motion to Approve Items A through H on the Consent Agenda made by Trustee Shaw, seconded by Trustee Schlick. Ayes 6, Nays 0 MOTION DECLARED CARRIED

9. OLD BUSINESS A. Consideration and Approval of the Employment Agreement for Village Administrator

Allison Matson. Motion to Approve the Employment Agreement for Village Administrator Allison Matson made by Trustee Schlick, seconded by Trustee Howe. Ayes 6, Nays 0 MOTION DECLARED CARRIED

10. NEW BUSINESS

A. Approval of a Resolution Appointing the Village of Wauconda’s Representatives to Serve as Director/Alternate on the Solid Waste Agency of Lake County (SWALCO) Board of Directors.

Motion to Approve a Resolution Appointing the Village of Wauconda’s Representatives to Serve as Director/Alternate on the Solid Waste Agency of Lake County (SWALCO) Board of Diraectors made by Trustee Howe, seconded by Trustee Barbini. Ayes 5, Abstain 1, Nays 0 MOTION DECLARED CARRIED

11. MAYOR’S REPORT

Mayor Sode thanked Director Lyons and his team on the concise and easy read of the 2022 Financial report, stating it is great to see the Village in great financial condition. Mayor Sode advised that the September Cruise Night was the last of the season, and even with the light rain and cloudy weather, we still had 447 cars. He thanked the Cruise Night Committee, Police, Fire Cert, Volunteers, and Chuck Black for all their dedicated hard work with the event, noting this may be one of Chuck’s last Cruise Night events. Mayor Sode congratulated Threads on their 8-year anniversary event last week; great turn-out.


Mayor Sode gave an update on the Public Works Director search advising the ad was posted on September 28th and will close on November 1st. To date we have four candidates. Mayor Sode advised we are also looking for a MST (Maintenance Service Technician) position. To date, we have 13 applicants with the search ending on October 15th.

12. COMMITTEE REPORTS & TRUSTEE COMMENTS Trustee Barbini: Trustee Barbini congratulated Jake Mann on his new role as the Public Works Superintendent. Trustee Barbini stated he had to echo the Mayor’s comment, the Financial Report presented by Tom Lyons was thorough, very well done; excellent. He also welcomed Allison Matson, noting that we are here to help her be successful. Trustee Barbini thanked Tom and Jeff for being on the SWALCO board, “It’s a dirty job, but someone has to do it.” Last but not least, Trustee Barbini thanked Chief Dave Wermes for all of his efforts in serving as Interim Village Administrator and for the additional help he is providing over at Public Works; the work he has done is well beyond the call of duty, and he has done a great job.

Trustee Howe: Trustee Howe advised that tomorrow morning the Wauconda Police Department will be meeting with the community at McDonalds for the annual “Coffee with a Cop” between 8am and 10am noting there will be complimentary coffee and a great chance to get to know Wauconda’s Finest. Trustee Howe advised that Thursday will be the last Farmers Market of the season and the Chamber of Commerce will be conducting the Art On Main auction of all those wonderful benches that have been scattered along Main Street, stating he hoped to see everyone there. Last, Trustee Howe welcomed new Public Works Superintendent, Jake Mann to his first official meeting. Trustee Schlick: Trustee Schlick advised he had no comments for this evening. Trustee Shaw: Trustee Shaw thanked Public Works for all the hard work that they have been doing lately; he’s seen them all over the place with all kinds of stuff going on. Trustee Shaw also congratulated Jake Mann on his new position as Public Works Superintendent. Trustee Kuhn: Trustee Kuhn advised she had no comments tonight. Trustee Ferrier: Trustee Ferrier stated it was very nice being involved in the Homecoming festivities, advising she has a Senior and it was a big week of fun events. Trustee Ferrier also said she is very excited to get to know Allison Matson more on October 15th.


13. EXECUTIVE SESSION

A. (5 ILCS 120/2(C)(5)) The purchase or lease of real property for the use of the public body, including meetings held for the purpose of discussing whether a particular parcel should be acquired.

Motion to Move into Executive Session made by Trustee Barbini, seconded by Trustee Ferrier at 6:09 PM. Ayes 6, Nays 0 MOTION DECLARED CARRIED

14. RETURN TO OPEN SESSION

Motion to Reconvene from Executive Session and Return to Open Session made by Trustee Ferrier, seconded by Trustee Kuhn at 6:14 PM. Ayes 6, Nays 0

MOTION DECLARED CARRIED

15. ADJOURNMENT Motion to Adjourn made by Trustee Kuhn, seconded by Trustee Shaw at 6:15 PM. Ayes 6, Nays 0

MOTION DECLARED CARRIED Minutes respectfully submitted by: _____________________________________________________________ Virginia “Gigi” Radcliffe, Wauconda Village Clerk

VILLAGE OF WAUCONDA, ILLINOIS

ANNUAL COMPREHENSIVE FINANCIAL REPORT

FOR THE FISCAL YEAR ENDED APRIL 30, 2021


ANNUAL COMPREHENSIVE FINANCIAL REPORT

FOR THE FISCAL YEAR ENDED

APRIL 30, 2021

Prepared by the Finance Department

VILLAGE OF WAUCONDA, ILLINOIS TABLE OF CONTENTS

APRIL 30, 2021 PAGE

INTRODUCTORY SECTION

Transmittal Letter i

List of Principal Officials v

Organization Chart vi

Certificate of Achievement vii

FINANCIAL SECTION

INDEPENDENT AUDITOR’S REPORT 1

REQUIRED SUPPLEMENTARY INFORMATION

Management’s Discussion and Analysis 4

BASIC FINANCIAL STATEMENTS

Government-Wide Financial Statements

Statement of Net Position 11

Statement of Activities 12

Fund Financial Statements

Balance Sheet – Governmental Funds 13

Reconciliation of the Balance Sheet to the Statement of Net Position 14

Statement of Revenues, Expenses, and Changes in Fund Balances – Governmental Funds 15

Reconciliation of the Statement of Revenues, Expenses, and Changes in Fund Balances to the Statement of Activities 16

Statement of Net Position – Proprietary Funds 17

Statement of Revenues, Expenses, and Changes in Net Position – Proprietary Funds 18

Statement of Cash Flows – Proprietary Funds 19

Statement of Fiduciary Net Position – Fiduciary Funds 20

Statement of Changes in Fiduciary Net Position – Fiduciary Funds 21


APRIL 30, 2021 PAGE BASIC FINANCIAL STATEMENTS (Continued)

Notes to Financial Statements 22

REQUIRED SUPPLEMENTARY INFORMATION Illinois Municipal Retirement Fund – Schedule of Changes in the Employer’s Net Pension Liability and Related Ratios 52 Illinois Municipal Retirement Fund – Schedule of Employer Contribution 53 Police Pension Plan – Schedule of Changes in the Employer’s Net Pension Liability and Related Ratios 54 Police Pension Plan – Schedule of Employer Contribution 55 Police Pension Plan – Schedule of Investment Returns 56 Other Post-Employment Benefit – Schedule of Changes in the Employer’s Net OPEB Liability and Related Ratios 57 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual – General Fund 58 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual – Special Revenue Fund – Motor Fuel Tax Fund 59 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual – Special Revenue Fund – Tax Increment Financing Fund 60 Notes to Required Supplementary Information 61 SUPPLEMENTARY INFORMATION Schedule of Revenues – Budget and Actual – General Fund 62 Schedule of Expenditures – Budget and Actual – General Fund 64 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual – Debt Service Fund 65 Schedule of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual – Capital Projects Funds 66 Schedule of Revenues, Expenses, and Changes in Net Position – Budget and Actual – Enterprise Fund 67


APRIL 30, 2021

PAGE SUPPLEMENTARY INFORMATION (Continued) Schedule of Operating Revenues – Budget and Actual – Enterprise Fund 68 Schedule of Operating Expenses – Budget and Actual – Enterprise Fund 69 Schedule of Changes in Fiduciary Net Position – Budget and Actual – Fiduciary Funds 70 Schedule of Changes in Assets and Liabilities – Agency Fund 71 Long-Term Debt Requirements General Obligation Alternate Revenue Bond Series of 2011 72 General Obligation Bond Series of 2013 73 General Obligation Refunding Alternate Revenue Bond Series of 2014A 74 General Obligation Refunding Alternate Revenue Bond Series of 2014B 75 General Obligation Refunding Bond Series of 2015 76 General Obligation Bond Series of 2017 77 General Obligation Bond Series of 2018 78 Illinois Environmental Protection Agency (IEPA) Loan Payable – L17-2737 79 Illinois Environmental Protection Agency (IEPA) Loan Payable – L17-2739 80

STATISTICAL SECTION Financial Trends Net Position by Component 81 Schedule of Changes in Net Position 82 Fund Balance – Governmental Funds 84 Schedule of Changes in Fund Balances – Governmental Funds 85

Property Tax Assessed Value and Estimated Actual Value of Taxable Property 86 Property Tax Rates - Direct and Overlapping Governments 87 Schedule of Principal Taxpayers in the District 88 Property Tax Levies and Collections 89 Debt Capacity Schedule of Outstanding Debt by Type 90 Schedule of Net Bonded Debt 91 Computation of Direct and Overlapping Debt 92 Schedule of Legal Debt Margins 93


APRIL 30, 2021

PAGE Debt Capacity (Continued) Schedule of Legal Debt Margin Calculation 94 Pledged Revenue Coverage 95 Operating Information

Demographic and Statistics 96 Principal Employers 97 Number of Employees by Type 98 Operating Indicators by Function 99 Capital Asset Statistics by Function/Program 100 Water and Sewer Consumer Data 101

INTRODUCTORY SECTION

October 12, 2021

The Honorable Mayor Village Board of Trustees and Residents of the Village of Wauconda

The Annual Comprehensive Financial Report (ACFR) of the Village of Wauconda for the fiscal year ended April 30, 2021 is hereby submitted. The purpose of the report is to provide the Mayor, Trustees, residents, bond holders and other interested parties with useful information concerning the Village’s operations and financial position. It has been prepared in accordance with standards prescribed by the Governmental Accounting Standards Board (GASB).

The ACFR is management’s annual report to its taxpayers, governing body, investors and creditors. The responsibility for the accuracy of the data and the completeness and fairness of the presentation, including all disclosures, rests with the Village. To the best of our knowledge and belief, the enclosed data is accurate in all material respects and is reported in a manner designed to present fairly the financial position and the results of operations of various funds and component units of the Village. All disclosures necessary to enable the reader to gain an understanding of the Village of Wauconda’s financial activities have been included.

Management of the Village is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the Village are protected from loss, theft, or misuse and to ensure that adequate accounting data are compiled to allow for the preparation of financial statements in conformity with generally accepted accounting principles. The internal control structure is designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that: 1) the cost of the control should not exceed the benefits likely to be derived; and 2) the valuation of costs and benefits requires estimates by management.

Eder Casella & Co., Certified Public Accountants have issued an unmodified (clean) opinion on the Village of Wauconda’s financial statements for fiscal year ended April 30, 2021. The independent auditor’s report is presented at the front of the financial section of this report.

Management’s discussion and analysis (MD&A) immediately follows the independent auditor’s report and provides a narrative introduction, overview and analysis of the basic financial statement.

i

ii

Profile of the Village of Wauconda

Wauconda is located in the southeastern part of Wauconda Township on the banks of a beautiful little lake known as Bangs Lake, named in honor of Justus and Mark Bangs, the first settlers of the area. The town of Wauconda was organized in the year of 1849, by a vote of the people of the County to divide said County into towns. There were 1,695 votes cast and all except three were in favor of the division.

The population of the Village grew from 9,448 in the 2000 census to 14,125 in 2017 special census. The Village is a non-home rule community since its population is less than 25,000. In Illinois, a non-home rule municipality can only exercise the powers specifically granted to it by state law. Since 1991, non-home rule governments in DuPage, Lake, McHenry, and Will Counties or non-home rule governments having a majority of their equalized assessed value in Cook County have been subject to the Property Tax Extension Limitation Law, referred to as the “Tax Cap”. The Equalized Assessed Valuation (EAV) of property is the assessed value multiplied by the state equalization factor. This gives the value of the property upon which the tax rate is calculated after deducting homestead exemptions, if applicable.

Village of Wauconda Census

Years Populations Years Populations 1952 1,173 1980 5,688 1955 2,373 1990 6,294 1959 3,275 1996 8,229 1960 3,227 2000 9,448 1963 4,775 2007 12,614 1966 5,343 2010 13,603 1970 5,460 2017 14,125 1974 5,662

-

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

Village of WaucondaPopulation

iii

The Village operates under the Trustee Village form of government. The Village Board is made up of the Mayor and a six member Board of Trustees. The entire Board is responsible for policy making and is entrusted with legislative authority. The Village Administrator is responsible for carrying out the policies and ordinances approved by the Village Board, along with overseeing the day-to-day operations of the Village. Additionally, since the Village of Wauconda is a non-home rule community and it operates under the Appropriation Act, the Village Board is required to adopt and file an Appropriation Ordinance each fiscal year. This Appropriation Ordinance is based upon a budget prepared and approved each fiscal year. The budget serves as the spending plan for the Village of Wauconda.

Local Economy

The Village of Wauconda has been diligent in taking measures to address the challenges that this recovering but uncertain economy has to offer. This uncertainty affects the Village in many areas such as real estate and new business opportunities. The Village’s 2020 Equalized Assessed Value grew 2.8% to $406,209,143 after last year's 2.2% increase.

The General Fund revenues were more than budget and expenditures were less than budget, increasing fund balance by $2,295,934 over the prior fiscal year. The General Fund balance was increased from $4,586,361 to $6,882,295. The Village’s policy states that the General Fund should maintain a minimum fund balance equal to 25% of the General Fund operating expenditures. The unassigned General Fund balance is used for this measure as well as the operating expenditures budgeted in the most recently approved annual budget. The General Fund’s unassigned fund balance at year end was $6,486,742 or 78% of the fiscal year 2021 budgeted expenditures of $8,311,337. The General Fund year-end unassigned Fund Balance exceeded the minimum fund balance target of $2,077,834 by $4,408,908. The unassigned Fund Balance may be used for general government purposes and is not restricted.

With the Village subject to property tax caps, property tax revenues from year-to-year are relatively flat. Tax caps limit levy growth, exclusive of new construction or annexed property, to 5% or the rate of inflation, whichever is less. The rate of inflation for the 2019 year (levied in 2020) was 2.3%. The Village collected property taxes of $3.85 million for the Police Pension and General Funds in fiscal year 2021. Sales and use tax revenues produce the second largest amount of revenue for the General Fund totaling $2.63 million, up 8.2% from the prior year's $2.43 million. The other main generator of General Fund revenue is state income tax that is shared with the Village by the State of Illinois. Income tax revenues increased 31.7% from $1.39 million to $1.83 million. Through the COVID-19 pandemic the Village overall revenues remained fairly stable. The income tax revenue was higher in the year due to a delay in the income tax due date. This resulted in less income tax in the prior year which was then recognized in the current year. Overall, General Fund revenues increased 12.2% from $9.57 million in 2020 to $10.74 million in 2021, largely from one-time pandemic related grant revenues and increases in state income tax revenue.

Overall General Fund expenditures came in under budget. Budgeted expenditures in the fund were $8.31 million. Actual expenditures amounted to approximately $8.12 million, which was under budget by $0.19 million. The unknown aspects of the pandemic, many Illinois local governments, including Wauconda, are facing multi-year increases in revenues that lag the increasing expenditures. Significant costs like infrastructure, pensions, health insurance and wage increases will weigh heavily on future budgets.

iv

For fiscal year 2021, the Water and Sewer Fund reported an operating loss of $254,033, down from the prior year loss of $71,412 but up from the budgeted operating loss of $1,078,463 for the year. Charges for service in fiscal year 2021 reached $5,862,765, 100% of the budgeted amount of $5,837,876. Effective in July 2020 the Village Board approved a freeze in the water and sewer rates to provide relief to residents from additional increases during a pandemic. Water and Sewer Fund operating expenditures were $6,116,798 or $799,541 less than budgeted. The Net Position increased during the year by $383,612. The overall increase in Net Position was due to paying down outstanding debt as scheduled.

Major Initiatives

Strategic Plan (2019-2022). From June through September 2019, the Village of Wauconda engaged in a strategic planning process. The process resulted in a strategic plan covering 2019-2022. The plan consists of four strategic priorities— the issues of greatest importance to the Village over the next three years. These strategic priorities include: 1) financial sustainability; 2) community engagement; 3) operational excellence; and 4) economic development.

Awards and Acknowledgements

In order to be awarded a Certificate of Achievement through the Government Finance Officers Association, the Village must publish an easily readable and efficiently organized annual comprehensive financial report (ACFR). This report satisfies both generally accepted accounting principles and applicable legal requirements.

A certificate of achievement is valid for a period of one year. We believe that our current annual comprehensive financial report meets the Certificate of Achievement Program’s requirements and we are submitting it to the GFOA to determine its eligibility for the certificate. The preparation of this annual comprehensive financial report on a timely basis was made possible by the dedicated service of the entire Village staff and particularly the staff of the Finance Department. Each staff member has our sincere appreciation for the contributions made in the preparation of this report.

In closing, without the leadership and support of the governing body of the Village, preparation of this report would not have been possible.

Sincerely,

David Wermes Thomas J. Lyons Interim Village Administrator Finance Director/Treasurer

Village of Wauconda List of Principal Officials

April 30, 2021

John Barbini

Adam Schlick

Jennifer Kuhn

Tim Howe

Tom Shaw

Nicole Ferrier

Legislative

Jeff A. Sode, Mayor

Village Board of Trustees

Virginia Radcliffe, Village Clerk

v

Village of WaucondaOrganizational Chart

September 2021

Village GovernmentJeff A. Sode, Mayor

John Barbini, TrusteeTim Howe, Trustee

Adam Schlick, TrusteeTom Shaw, Trustee

Jennifer Kuhn, TrusteeNicole Ferrier, Trustee

Sherry DaviesDeputy Clerk

Rudy MagnaVillage Attorney

PoliceDave WermesPolice Chief

Public Works Brad FinkDirector

Virginia RadcliffeVillage Clerk

Zoning Board ofAppeals/PlanCommission

PoliceCommission

2 Appointees toPolice Pension

Board

ADHOCCommittees

Elected Officials

Appointed/Contracted Services

Appointed Officials

Employees

Interim Village AdministratorDave Wermes

Village Residents

Legend

Alise HomolaExecutive

Administrative Assistant

VILLAGE DEPARTMENTS

Community DevelopmentGreg Anderson

Director

Bill RickertVillage Engineer

FinanceThomas Lyons

Director/Treasurer

vi

Government Finance Officers Association

Certificate of Achievementfor Excellence

in Financial Reporting

Presented to

Village of WaucondaIllinois

For its Comprehensive AnnualFinancial Report

For the Fiscal Year Ended

April 30, 2020

Executive Director/CEO

vii

FINANCIAL SECTION

INDEPENDENT AUDITOR’S REPORT

To the Mayor and Board of Trustees Village of Wauconda, Illinois Report on the Financial Statements We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of

Village of Wauconda

as of and for the year ended April 30, 2021, and the related notes to the financial statements, which collectively comprise the Village’s basic financial statements as listed in the table of contents. 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 and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Village’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Village’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. Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of Village of Wauconda as of April 30, 2021,

and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. Change in Accounting Principle As described in Note 18 to the financial statements, the Village implemented GASB Statement No. 84, Fiduciary Activities. Our opinion is not modified with respect to this matter. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the required supplementary information, as listed on the table of contents, be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, 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 Village’s basic financial statements. The supplemental information, as listed in the table of contents, is presented for purposes of additional analysis and is not a required part of the basic financial statements. The introductory section and statistical section are presented for purposes of additional analysis and are not a required part of the basic financial statements. The supplemental information is the responsibility of management and was derived from and relates 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 supplemental information is fairly stated, in all material respects, in relation to the basic financial statements as a whole. 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. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also separately issued our report dated October 12, 2021 on our consideration of Village of Wauconda’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe

the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Village of Wauconda’s internal control over financial reporting and compliance.

EDER, CASELLA & CO. Certified Public Accountants McHenry, Illinois October 12, 2021

VILLAGE OF WAUCONDA, ILLINOIS MANAGEMENT’S DISCUSSION AND ANALYSIS

April 30, 2021

As management of Village of Wauconda (Village), we offer readers of the Village’s statements this narrative overview and analysis of the financial activities of the Village for the fiscal year ended April 30, 2021. We encourage readers to consider the information presented here in conjunction with additional information found in the notes to the financial statements.

FINANCIAL HIGHLIGHTS

Assets and deferred outflows of resources of the Village exceeded liabilities and deferred inflows of resources by $71,167,391 compared to $66,959,183 last year. This increase is derived from a reduction of IMRF and Police Pension obligations of $3,946,448 driven by investment returns above average. Governmental activities’ net position of $29,781,818 and business-type activities’ net position of $41,385,573 make up the Village’s combined net position of $71,167,391.

Combined revenue totaled $20,533,896, an increase of 8.5% from the preceding year, largely due to the one-time COVID-19 funding and the new Rebuild Illinois program funding received of $569,811 and $465,447, respectively. Income tax revenue was also up $445,543 or 32.1%% significantly contributing to their year over year increase. The income tax filing deadlines were delayed due to the pandemic resulting in portions of income tax revenues being shifted into the current year rather than being received in the prior year. Governmental activities’ revenue increased $1,722,229 (15.5%) from the preceding year.

Overall expenses totaled $16,325,688, a decrease of 14.7% from the preceding year. The prior year expenses included $559,910 more in capital outlay that was not capitalized as capital assets and expensed or depreciated over time. This resulted in more expense being reported in the prior year. In addition, the two pensions the Village participates in, had significant investment returns in the current year creating reductions in the overall pension obligations. This reduction of pension obligations effectively lowers the expenses for the year.

At the close of the current fiscal year, the Village’s governmental funds reported combined ending fund balances of $9,289,263 compared to $6,353,703 reported as of April 30, 2020, this increase is due to controlled spending and recognizing higher than expected income tax, use tax and grant revenues during the current year.

At April 30, 2021, the unassigned fund balance for the General Fund was $6,486,742, or 79.9% of total General Fund expenditures for the current year and 68.5% of the fiscal year 2021/22 budgeted General Fund revenues.

The Village’s Waterworks and Sewerage Fund reported an operating loss of $254,033 and an overall increase in net position of $383,612. The fund reported an operating loss as the Village has planned to continue a spend down of accumulated net position as new water rates are phased in over a five-year period to align with the costs related to providing Lake Michigan water to its residents. The overall net position of the fund increased due to the spend down of outstanding debt.

The Village’s total debt decreased by $2,317,531 during the fiscal year for a total of $31,256,824 principal outstanding at April 30, 2021. This principal outstanding is comprised of governmental activities debt of $3,125,000 and business-type activities of $28,131,824.

OVERVIEW OF THE FINANCIAL STATEMENTS

This discussion and analysis is intended to serve as an introduction to the Village’s basic financial statements. The Village’s basic financial statements comprise three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. Both perspectives (government-wide and fund level financial statements) allow the user to address relevant questions, broaden a basis for comparison (year to year or government to government) and enhance the Village’s accountability.

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 Village’s finances, in a manner similar to a private business.

The Statement of Net Position presents information on all of the Village’s assets, deferred outflows of resources, liabilities, and deferred inflows of resources with the difference amongst those being reported as net position. Increases or decreases in net position may serve as a useful indicator of whether the financial position of the Village is improving or deteriorating when comparing year to year results.

The Statement of Activities presents information showing how the Village’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 but unused vacation leave).

Both of the government-wide financial statements distinguish functions of the Village that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The governmental activities of the Village include general government, public safety, and public works. The business-type activities of the Village include a water and sewer division.

The government-wide financial statements can be found on pages 11 and 12 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 Village, 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 Village can be divided into three categories: governmental funds, proprietary funds, and fiduciary funds.

Governmental Funds. Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as 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 Village’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 Village maintains five individual governmental funds. Information is presented separately in the governmental fund Balance Sheet and in the governmental fund Statement of Revenues, Expenditures, and Changes in Fund Balances for the General Fund which is considered to be a major fund. This statement also includes the Motor Fuel Tax, Debt Service, Capital Projects and TIF Funds, all of which are considered to be major funds due to public interest.

The basic governmental fund financial statements can be found on pages 13 through 16 of this report.

Proprietary Funds. The Village maintains one proprietary fund type: enterprise funds. Enterprise funds are used to report the same functions presented as business-type activities in the government-wide financial statements. The Village uses an enterprise fund to account for the Water and Sewer Division.

Proprietary funds provide the same type of information as the government-wide financial statements, only in more detail. The proprietary fund financial statements provide separate information for the water and sewer functions.

The basic proprietary fund financial statements can be found on pages 17 through 19 of this report.

Fiduciary Funds. Fiduciary funds are used to account for resources held for the benefit of parties outside the Village. Fiduciary funds are not reflected in the government-wide financial statements because the resources of those funds are not available to support the Village’s own programs. The accounting used for fiduciary funds is much like that used for proprietary funds. The Village’s fiduciary funds include the Police Pension Trust Fund and one Agency Fund.

The basic fiduciary fund financial statements can be found on pages 20 and 21 of this report.

Notes to the Financial Statements. The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found on pages 22 through 51 of this report.

Other Information. In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information concerning the Village’s appropriation to actual for the General Fund, Motor Fuel Tax Fund and Tax Increment Financing Fund along with information concerning the Village’s Illinois Municipal Retirement Fund and police pension obligations. Required supplementary information can be found on pages 52 through 61 of this report. Supplemental information can be found on pages 62 through 80 of this report.

GOVERNMENT-WIDE FINANCIAL ANALYSIS

As noted earlier, net position may serve over time as a useful indicator of a government’s financial position. In the case of the Village, assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources by $71,167,391 at April 30, 2021.

The following table presents a summary of the Village’s net position for the years ended April 30, 2021 and 2020:

4/30/2021 4/30/2020 4/30/2021 4/30/2020 4/30/2021 4/30/2020

Assets

Current and Other Assets 15,021,395$ 11,441,377$ 14,685,944$ 13,917,671$ 29,707,339$ 25,359,048$

Capital Assets 35,318,744 35,916,035 58,207,605 59,912,671 93,526,349 95,828,706

Total Assets 50,340,139$ 47,357,412$ 72,893,549$ 73,830,342$ 123,233,688$ 121,187,754$

Deferred Outflows of Resources 989,544$ 1,684,477$ 157,687$ 359,285$ 1,147,231$ 2,043,762$

Liabilities

Current Liabilities 509,708$ 545,333$ 629,816$ 689,385$ 1,139,524$ 1,234,718$

Non-Current Liabilities 12,567,919 16,900,064 28,695,595 30,582,898 41,263,514 47,482,962

Total Liabilities 13,077,627$ 17,445,397$ 29,325,411$ 31,272,283$ 42,403,038$ 48,717,680$

Deferred Inflows of Resources 8,470,238$ 5,639,270$ 2,340,252$ 1,915,383$ 10,810,490$ 7,554,653$

Net PositionNet Investment in Capital

Assets 32,309,472$ 32,165,338$ 36,875,781$ 37,143,316$ 69,185,253$ 69,308,654$

Restricted 1,939,186 1,067,438 2,130,772 2,530,172 4,069,958 3,597,610

Unrestricted (4,466,840) (7,275,554) 2,379,020 1,328,473 (2,087,820) (5,947,081)

Total Net Position 29,781,818$ 25,957,222$ 41,385,573$ 41,001,961$ 71,167,391$ 66,959,183$

Village of Wauconda's Statement of Net Position

TotalBusiness-Type ActivitiesGovernmental Activities

By far, the largest portion of the Village’s net position, 97.3%, reflects its investment in capital assets (e.g., land, construction in progress, buildings, and equipment); less any related debt used to acquire those assets that is still outstanding. The Village uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Although the Village’s investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.

An additional portion of the Village’s net position, 5.7%, represents resources that are subject to external restrictions on how they may be used (e.g. Highways and Streets, Capital Projects, Marine, etc.). The remaining unrestricted net position reported a deficit balance for the year.

The Village’s net position increased by $4,164,752 during the current fiscal year.

Governmental Activities. Governmental activities increased the Village’s net position by $3,781,140. Key differences from the prior year are as follows:

FY 2021 FY 2020 FY 2021 FY 2020 FY 2021 FY 2020Revenues

Program RevenuesCharges for Services 1,109,173$ 1,065,840$ 5,862,765$ 5,541,683$ 6,971,938$ 6,607,523$ Operating Grants and

Contributions 1,114,424 562,432 - - 1,114,424 562,432 Capital Grants and Contributions 561,005 - - - 561,005 -

General RevenuesProperty Taxes 4,805,652 4,725,145 1,503,014 1,471,848 6,308,666 6,196,993 Sales Taxes 1,995,287 1,933,281 - - 1,995,287 1,933,281 Use Taxes 635,443 494,275 - - 635,443 494,275 Income Taxes 1,834,858 1,389,315 - - 1,834,858 1,389,315 Utility Taxes 405,614 421,196 - - 405,614 421,196 Other Taxes 293,928 328,885 - - 293,928 328,885 Other 31,841 144,627 380,892 840,414 412,733 985,041

Total Revenues 12,787,225$ 11,064,996$ 7,746,671$ 7,853,945$ 20,533,896$ 18,918,941$ Expenses

General Government 2,672,028$ 2,753,606$ -$ -$ 2,672,028$ 2,753,606$ Public Safety 4,106,447 4,900,767 - - 4,106,447 4,900,767 Public Works 2,075,611 2,881,395 - - 2,075,611 2,881,395 Interest and Fees 108,543 147,190 - - 108,543 147,190 Water and Sewer - - 7,363,059 8,462,956 7,363,059 8,462,956

Total Expenses 8,962,629$ 10,682,958$ 7,363,059$ 8,462,956$ 16,325,688$ 19,145,914$ Increase/(Decrease) in Net Position

Before Transfers 3,824,596$ 382,038$ 383,612$ (609,011)$ 4,208,208$ (226,973)$ Transfers - - - - - - Increase/(Decrease) in Net Position 3,824,596$ 382,038$ 383,612$ (609,011)$ 4,208,208$ (226,973)$ Net Position - Beginning of Year 25,957,222 25,575,184 41,001,961 41,610,972 66,959,183 67,186,156 Net Position - End of Year 29,781,818$ 25,957,222$ 41,385,573$ 41,001,961$ 71,167,391$ 66,959,183$

Village of Wauconda's Change in Net PositionGovernmental Activities Business-Type Activities Total

Major revenue sources including capital and operating grants as well as income tax revenues were up $1,112,997 and $445,543, respectively. New grant funding opportunities arose during the year and income tax deadlines were moved back from the prior year into this year resulting in additional income tax revenue to be recognized during the current year. General government expenses were down 3.0% while public safety and public works expenses were down 16% and 28%, respectively. These larger reductions in expenses is substantially related to the effects of significant investment gains in the two Village pensions during the year which essentially reduces expenses during the year. For the year total governmental revenues were up 15.2% while expenditures were down $1,720,329 or 16.1%.

Business-Type Activities. Business-type activities increased the Village’s net position by $383,612, including an operating loss of $254,033 and an excess of non-operating revenue over non-operating expense of $637,645. The net payments to the Central Lake County Joint Action Water Agency (CLCJAWA) were $1 million less in the current year. This excess of non-operating revenues over

expenses results from the debt service tax levy generating property tax revenues while the repayment of debt principal does not generate expenses but rather reduces the outstanding debt liability.

FINANCIAL ANALYSIS OF THE VILLAGE’S FUNDS

As noted earlier, the Village uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements.

Governmental Funds. The focus of the Village’s governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the Village’s financing requirements. In particular, unassigned fund balance may serve as a useful measure of the Village’s net resources available for spending at the end of the fiscal year.

At April 30, 2021, the Village’s governmental funds reported combined ending fund balances of $9,289,263, an increase of $2,935,560 in comparison with the prior year. Approximately 70% of this total amount constitutes unassigned fund balance, which is available for spending at the Village’s discretion. The remaining fund balance (30%) constitutes fund balance restricted to indicate that it is not available for new spending because it has already been restricted, assigned, committed for specific purposes or is nonspendable.

The General Fund is the chief operating fund of the Village. At April 30, 2021, the fund balance of the General Fund was $6,882,295, of which $6,486,742 is unassigned. As a measure of the General Fund’s liquidity, it may be useful to compare unassigned fund balance to total fund expenditures. Unassigned fund balance represents 79.9% of total General Fund expenditures.

The General Fund’s fund balance increased by $2,295,934 during the year, due to controlled spending, an influx of new grant revenue and increased income tax revenue over the prior year.

The Motor Fuel Tax Fund reported a fund balance increase of $705,487 which brought the ending balance in the Fund to $980,072. This increase related to the fund building fund balance in between years with road maintenance program outflows. Every other year the Village outlays funds to resurface a portion of the Village roadways resulting in a spend-down of accumulated fund balance.

The Tax Increment Finance District (TIF) Fund, created in 2013, reports a fund balance of $761,913. Revenue from incremental property taxes was $233,242 while expenditures came in at $16,961 resulting in an increase in fund balance of $216,281 for the year. The increase is due to the Fund accumulating necessary funds in order to begin planning and construction of qualified TIF projects.

The Debt Service Fund reported an ending fund balance of $66,654 as debt payments exceeded property tax and interest revenues by $1,193 for the year.

The Capital Projects Fund reported an ending fund balance of $598,329. Revenues and transfers in amounted to $346,844, while public safety and public works capital project and replacement expenditures totaled $627,793 for the year.

Proprietary Funds. The Village’s proprietary funds provide the same type of information found in the government-wide financial statements, but in more detail.

The Village reports the Waterworks and Sewerage Fund as a major proprietary fund. The Waterworks and Sewerage Fund accounts for all of the operations of the municipal water and sewer system. The spread between purchase and sale rates for water and sewer services is intended to finance the operations of the waterworks and sewerage system, including labor costs, supplies, and infrastructure maintenance.

The Village intends to run the fund at a breakeven rate; however, there continues to be an operating loss in the current year as accumulated net position continues to be spent down as part of the multi-year plan to phase in the new water rates.

Fiduciary Funds (Police Pension and Agency Fund). At April 30, 2021, the Police Pension Fund’s net position amounted to $21,884,834. All amounts within this fund are restricted for the purpose of the administration of the fund. The agency fund relates to the special service area within the Village. This agency fund accounts for the collection of property taxes within the special service area for the payment of debt related to that special service area.

GENERAL FUND BUDGETARY HIGHLIGHTS

The budget was not amended during the year ended April 30, 2021; therefore, the amounts shown as original and final are the same. Significant differences between the budget and actual revenue and expenditures are summarized as follows:

The General Fund actual revenue exceeded budgeted revenue by $2,043,162. This difference was due to the Village recognizing more state shared revenues than the conservative budget planned as well as receiving an influx of one-time pandemic relief funding that was not budgeted. Actual expenditures were under budgeted expenditures by $191,052. This difference was not due to any one large factor but a mix of incurring less personnel and contractual costs throughout the year than planned.

CAPITAL ASSET AND DEBT ADMINISTRATION

Capital Assets. The Village’s investment in capital assets for its governmental and business-type activities as of April 30, 2021 amounts to $93,526,349 (net of accumulated depreciation). This investment includes land, land improvements, construction in progress, buildings, machinery and equipment, and infrastructure.

4/30/2021 4/30/2020 4/30/2021 4/30/2020 4/30/2021 4/30/2020

Land 19,284,750$ 19,284,750$ -$ -$ 19,284,750$ 19,284,750$ Land Improvements 166,516 183,969 35,674 41,162 202,190 225,131 Construction in Progress 22,290 9,612 40,631 4,232,390 62,921 4,242,002 Buildings 1,143,750 1,208,114 20,569,880 20,955,863 21,713,630 22,163,977 Machinery and Equipment 1,325,514 1,230,672 594,228 747,412 1,919,742 1,978,084 Infrastructure 13,375,924 13,998,918 36,967,192 33,935,844 50,343,116 47,934,762

Total 35,318,744$ 35,916,035$ 58,207,605$ 59,912,671$ 93,526,349$ 95,828,706$

Village of Wauconda's Capital Assets (net of depreciation)

Governmental Activities Business-Type Activities Total

Major capital asset events during the year ended April 30, 2021 included the following:

$3,945,301 of business-type activities for Phase 3B Ground Storage Reservoir and Booster Pump Station related to the Lake Michigan Water project was placed into service during the year.

The Wastewater Treatment Plant Clarifier No. 2 rehabilitation was completed and placed into service during the year for $304,601.

For further information, please see Note 4 on page 32 of this report.

Long-Term Debt. At April 30, 2021, the Village had total outstanding debt of $31,256,824, a decrease of $2,317,531 from the prior year. The decrease is due to scheduled principal retirement payments exceeding new issuances during the year. The following is a comparative statement of outstanding debt:

4/30/2021 4/30/2020 4/30/2021 4/30/2020 4/30/2021 4/30/2020

Alternate Revenue Bonds 965,000$ 1,105,000$ 3,910,000$ 4,185,000$ 4,875,000$ 5,290,000$ General Obligation Bonds 2,160,000 2,800,000 22,133,048 23,107,118 24,293,048 25,907,118 IEPA Loans - - 2,088,776 2,377,237 2,088,776 2,377,237

Total 3,125,000$ 3,905,000$ 28,131,824$ 29,669,355$ 31,256,824$ 33,574,355$

Village of Wauconda's Outstanding Debt

Governmental Activities Business-Type Activities Total

The Village maintains an Aa2 rating from Moody’s for general obligation debt. State statutes limit the amount of general obligation debt a non-home rule governmental entity may issue to 8.625% of its total assessed valuation. The current debt limit for the Village is $35,035,539.

Additional information on the Village’s long-term debt can be found in Note 5 on pages 33 and 34 of this report.

ECONOMIC FACTORS AND NEXT YEAR’S BUDGET AND RATES

The Village’s elected and appointed officials considered many factors when setting the 2022 fiscal year budget, tax rates and fees to be charged for its governmental and business-type activities. Every year a five-year forecast is compiled, allowing staff and the Village Board to facilitate discussions and plan accordingly. The budget process involves making conservative revenue projections and taking into consideration all uncontrollable costs, contractual agreements and Village objectives and goals.

REQUESTS FOR INFORMATION

This financial report is designed to provide a general overview of the Village’s finances for all those with an interest in the Village’s finances. If you have questions concerning any of the information provided in this report or requests for additional financial information, contact the Village at the following address:

Village of Wauconda 101 North Main Street Wauconda, IL 60084

BASIC FINANCIAL STATEMENTS

Governmental Business-TypeActivities Activities Total

ASSETSCash and Investments 8,423,510$ 9,709,791$ 18,133,301$ Deposit with Paying Agent 14,475 80,880 95,355 Due from Agency Funds 533 - 533 Receivables (Net of Allowance for

Estimated Uncollectible Amounts)Accounts Receivable - Billed - 58,496 58,496 Accounts Receivable - Unbilled - 743,881 743,881 Property Taxes 4,709,869 1,538,677 6,248,546 Due from State 1,039,712 - 1,039,712 Other Receivables 145,231 8,749 153,980

IMRF Net Pension Asset 438,780 438,780 877,560 Prepaid Items 92,537 65,547 158,084 Restricted Cash and Investments 156,748 2,041,143 2,197,891 Capital Assets

Land, Construction in Progress, and OtherNon-Depreciable Assets 19,307,040 40,631 19,347,671

Other Capital Assets, Net of Depreciation 16,011,704 58,166,974 74,178,678 TOTAL ASSETS 50,340,139$ 72,893,549$ 123,233,688$

DEFERRED OUTFLOWS OF RESOURCESUnamortized Charge on Bond Refunding 115,728$ -$ 115,728$ Pension Expense/Revenue - IMRF 157,687 157,687 315,374 Pension Expense/Revenue - Police Pension 716,129 - 716,129

TOTAL DEFERRED OUTFLOWS OF RESOURCES 989,544$ 157,687$ 1,147,231$

LIABILITIESAccounts Payable 172,857$ 219,280$ 392,137$ Accrued Payroll 160,458 57,931 218,389 Accrued Interest 35,877 259,603 295,480 Deposits Payable 129,659 6,405 136,064 Unearned Revenue 10,857 86,597 97,454 Non-Current Liabilities

Due Within One Year 1,152,733 1,747,562 2,900,295 Due in More Than One Year 11,415,186 26,948,033 38,363,219

TOTAL LIABILITIES 13,077,627$ 29,325,411$ 42,403,038$

DEFERRED INFLOWS OF RESOURCESProperty Taxes 4,732,609$ 1,538,677$ 6,271,286$ Unavailable Revenue - Grants 43,456 - 43,456 Pension Expense/Revenue - IMRF 801,575 801,575 1,603,150 Pension Expense/Revenue - Police Pension 2,892,598 - 2,892,598

TOTAL DEFERRED INFLOWS OF RESOURCES 8,470,238$ 2,340,252$ 10,810,490$

NET POSITIONNet Investment in Capital Assets 32,309,472$ 36,875,781$ 69,185,253$ Restricted for:

Capital Projects 465,447 - 465,447 Lake Michigan Water Project - 1,955,783 1,955,783 Public Safety 130,547 - 130,547 Debt Service 66,654 174,989 241,643 Highways and Streets 514,625 - 514,625 TIF District 761,913 - 761,913

Unrestricted/(Deficit) (4,466,840) 2,379,020 (2,087,820)

TOTAL NET POSITION 29,781,818$ 41,385,573$ 71,167,391$

APRIL 30, 2021


STATEMENT OF NET POSITIONGOVERNMENT-WIDE FINANCIAL STATEMENTS

Page 11The Notes to Financial Statements are an integral part of this statement.

Operating CapitalCharges for Grants and Grants and Governmental Business-Type

Expenses Services Contributions Contributions Activities Activities TotalFunctions/Programs

Governmental ActivitiesGeneral Government 2,672,028$ 558,052$ -$ -$ (2,113,976)$ -$ (2,113,976)$ Public Safety 4,106,447 549,397 584,564 - (2,972,486) - (2,972,486) Public Works 2,075,611 1,724 529,860 561,005 (983,022) - (983,022) Interest and Fees on Long-Term Debt 108,543 - - - (108,543) - (108,543)

8,962,629$ 1,109,173$ 1,114,424$ 561,005$ (6,178,027)$ -$ (6,178,027)$

Business-Type ActivitiesWater and Sewer 7,363,059$ 5,862,765$ -$ -$ -$ (1,500,294)$ (1,500,294)$

7,363,059$ 5,862,765$ -$ -$ -$ (1,500,294)$ (1,500,294)$

Total Primary Government 16,325,688$ 6,971,938$ 1,114,424$ 561,005$ (6,178,027)$ (1,500,294)$ (7,678,321)$

General RevenuesTaxes

Property Tax 4,805,652$ 1,503,014$ 6,308,666$ State Sales Tax 1,995,287 - 1,995,287 State Use Tax 635,443 - 635,443 State Income Tax 1,834,858 - 1,834,858 State Utility Tax 405,614 - 405,614 Other Taxes 293,928 - 293,928

Investment Income 7,826 29,216 37,042 Miscellaneous 24,015 351,676 375,691

Total General Revenues and Transfers 10,002,623$ 1,883,906$ 11,886,529$

Change in Net Position 3,824,596$ 383,612$ 4,208,208$

Net Position - May 1, 2020 25,957,222 41,001,961 66,959,183

Net Position - April 30, 2021 29,781,818$ 41,385,573$ 71,167,391$

Changes in Net PositionProgram Revenues

VILLAGE OF WAUCONDA, ILLINOISGOVERNMENT-WIDE FINANCIAL STATEMENTS

STATEMENT OF ACTIVITIESFOR THE YEAR ENDED APRIL 30, 2021

Net (Expense) Revenue and


Motor Debt Capital TotalGeneral Fuel Tax TIF Service Projects Governmental

Fund Fund Fund Fund Fund FundsASSETS

Cash and Investments 6,036,703$ 958,120$ 762,980$ 66,654$ 599,053$ 8,423,510$ Deposit with Paying Agent - 14,475 - - - 14,475 Due from Agency Funds 533 - - - - 533 Receivables (Net of Allowance for

Estimated Uncollectible Amounts)Property Taxes 3,966,406 - - 743,463 - 4,709,869 Due from State 993,180 46,532 - - - 1,039,712 Other Receivables 101,775 - - - 43,456 145,231

Prepaid Items 92,537 - - - - 92,537 Restricted Cash and Investments 156,748 - - - - 156,748

TOTAL ASSETS 11,347,882$ 1,019,127$ 762,980$ 810,117$ 642,509$ 14,582,615$

LIABILITIESAccounts Payable 132,011$ 39,055$ 1,067$ -$ 724$ 172,857$ Accrued Payroll 160,458 - - - - 160,458 Deposits Payable 129,659 - - - - 129,659 Unearned Revenue 54,313 - - - - 54,313

TOTAL LIABILITIES 476,441$ 39,055$ 1,067$ -$ 724$ 517,287$

DEFERRED INFLOWS OF RESOURCESUnavailable Revenue - Property Taxes 3,989,146$ -$ -$ 743,463$ -$ 4,732,609$ Unavailable Revenue - Grants - - - - 43,456 43,456

TOTAL DEFERRED INFLOWS OF RESOURCES 3,989,146$ -$ -$ 743,463$ 43,456$ 4,776,065$

FUND BALANCESNonspendable

Prepaids 92,537$ -$ -$ -$ -$ 92,537$ Restricted for:

Audit - - - - - - Capital Projects - 465,447 - - - 465,447 Public Safety 130,547 - - - - 130,547 Debt Service - - - 66,654 - 66,654 Highways and Streets - 514,625 - - - 514,625 Liability Insurance - - - - - - Marine/Lake Management - - - - - - Illinois Municipal Retirement Fund 26,201 - - - - 26,201 TIF District - - 761,913 - - 761,913

Committed for: - Maine/Lake Management 55,670 55,670

Assigned for:Public Safety 90,598 - - - - 90,598 Vehicle and Equipment Replacements - - - - 181,729 181,729 Capital Projects - - - - 416,600 416,600

Unassigned 6,486,742 - - - - 6,486,742 TOTAL FUND BALANCES 6,882,295$ 980,072$ 761,913$ 66,654$ 598,329$ 9,289,263$

TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES 11,347,882$ 1,019,127$ 762,980$ 810,117$ 642,509$ 14,582,615$

Special Revenue Funds

VILLAGE OF WAUCONDA, ILLINOISFUND FINANCIAL STATEMENTS

BALANCE SHEETGOVERNMENTAL FUNDS

APRIL 30, 2021


Total Fund Balances - Governmental Funds 9,289,263$

Amounts reported for governmental activities in the Statement of Net Positionare different because:

Capital assets used in governmental activities are not financial resources

and therefore are not reported in the funds.

Capital Assets, net of accumulated depreciation 35,318,744

Deferred charges and credits for debt issue discounts or premiums andother debt issue costs are not financial resources and therefore are not reported in the funds.

Unamortized Charge on Bond Refunding 115,728

Some assets/(liabilities) are not due and payable in the current period andtherefore are not reported in the funds.

Bonds and Notes Payable (3,125,000)$ Accrued Interest on Long-Term Debt (35,877) Compensated Absences (327,733) Total OPEB Liability - IMRF (430,436) Total OPEB Liability - Police (717,393) Net Pension Asset - IMRF 438,780 Net Pension Liability - Police (7,967,357)

(12,165,016)

Deferred OPEB/pension costs in governmental activities are not financial resources and therefore are not reported in the funds.

Pension Deferred Outflows - IMRF 157,687$ Pension Deferred Outflows - Police 716,129 Pension Deferred Inflows - IMRF (801,575) Pension Deferred Inflows - Police (2,892,598)

(2,820,357)

Other assets/liabilities are not available to pay for current period expendituresand therefore are deferred inflows/outflows of resources in the funds

Deferred Capital Grant 43,456

Net Position of Governmental Activities 29,781,818$


RECONCILIATION OF THE BALANCE SHEET TO THE STATEMENT OF NET POSITION APRIL 30, 2021


Motor Debt Capital TotalGeneral Fuel Tax TIF Service Projects Governmental

Fund Fund Fund Fund Fund FundsREVENUES

Local TaxesProperty Tax 3,848,899$ -$ 233,201$ 723,552$ -$ 4,805,652$

Intergovernmental - State Sales Tax 1,995,287 - - - - 1,995,287 State Use Tax 635,443 - - - - 635,443 State Income Tax 1,834,858 - - - - 1,834,858 State Cannabis Tax 13,861 - - - - 13,861 State Replacement Tax 48,096 - - - - 48,096 State Utility Tax 405,614 - - - - 405,614 State Motor Fuel Tax - 505,732 - - - 505,732 State Video Gaming Tax 199,734 - - - - 199,734 State Road and Bridge Tax 32,237 - - - - 32,237 Grants 584,564 517,549 - - - 1,102,113

Other Local SourcesLicenses and Permits 257,199 - - - - 257,199 Fines and Forfeitures 346,250 - - - - 346,250 Charges for Services 504,710 - - - - 504,710 Local Grants - - - - 24,128 24,128 Interest 7,094 621 41 5 65 7,826 Miscellaneous

Donations 6,414 - - - - 6,414 Reimbursements 1,014 - - - - 1,014 Other Miscellaneous 17,601 - - - - 17,601

Total Revenues 10,738,875$ 1,023,902$ 233,242$ 723,557$ 24,193$ 12,743,769$

EXPENDITURESCurrent

General Government 2,743,166$ -$ 16,961$ 750$ -$ 2,760,877$ Public Safety 4,382,575 - - - - 4,382,575 Public Works 994,549 39,805 - - - 1,034,354

Capital OutlayGeneral Government - - - - 20,952 20,952 Public Safety - - - - 166,018 166,018 Public Works - 105,460 - - 440,823 546,283

Debt ServicePrincipal - 140,000 - 640,000 - 780,000 Interest and Fees - 33,150 - 84,000 - 117,150

8,120,290$ 318,415$ 16,961$ 724,750$ 627,793$ 9,808,209$ EXCESS OR (DEFICIENCY) OF REVENUES

OVER EXPENDITURES 2,618,585$ 705,487$ 216,281$ (1,193)$ (603,600)$ 2,935,560$

OTHER FINANCING SOURCES/(USES)Transfers (322,651) - - - 322,651 -

NET CHANGE IN FUND BALANCES 2,295,934$ 705,487$ 216,281$ (1,193)$ (280,949)$ 2,935,560$

FUND BALANCES - MAY 1, 2020 4,586,361 274,585 545,632 67,847 879,278 6,353,703

FUND BALANCES - APRIL 30, 2021 6,882,295$ 980,072$ 761,913$ 66,654$ 598,329$ 9,289,263$

Special Revenue Funds

FOR THE YEAR ENDED APRIL 30, 2021


STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND BALANCESGOVERNMENTAL FUNDS


Net Change in Fund Balances - Total Governmental Funds 2,935,560$

Amounts reported for governmental activities in the Statement of Activities aredifferent because:

Governmental funds report capital outlays as expenditures. However, in the

Statement of Activities the cost of those assets is allocated over their estimateduseful lives and reported as depreciation expense. This is the amount by whichcapital outlay exceeds depreciation expense in the current period.

Depreciation Expense (1,049,573)$ Capital Outlays 466,782

(582,791) In the Statement of Activities, only the gain or loss on the sale of capital assets

is reported, whereas in the governmental funds, the proceeds from the saleincrease financial resources. Thus, the change in net position differs from the change in fund balance by the undepreciated balance of the capital assets sold.

Proceeds from Sale of Capital Assets (11,227)$ Gain/(Loss) on Sale of Capital Assets (3,273)

(14,500)

Some revenues reported in the Statement of Activities do not providecurrent financial resources and therefore are deferred in the governmental funds

Capital Grant Revenue 43,456

Some revenue/expenses reported in the Statement of Activities do not provide/use current financial resources and therefore are not reported as revenues/expenditures in the governmental funds.

Accrued Interest on Long-Term Debt 8,607$ Bond Refunding - Amortization (38,575) OPEB Benefit Payments - IMRF 18,585 OPEB Benefit Payments - Police 30,975 OPEB Expense - IMRF (724) OPEB Expense - Police (31,093) Pension Income - IMRF 41,021 Pension Expense - Police Pension (592,436) Compensated Absences 44,477

(519,163) Employer Pension Contributions are expensed in the fund financial statements but

are treated as a reduction in the Net Pension Liability on the government-widefinancial statements.

Pension Employer Contributions - IMRF 134,910$ Pension Employer Contributions - Police Pension 1,047,124

1,182,034 Repayment of long-term debt requires the use of current financial resources of

governmental funds and is therefore shown as an expenditure in the Statementof Revenues, Expenditures, and Changes in Fund Balances, but the repaymentreduces long-term liabilities in the Statement of Net Position and is therefore notreported in the Statement of Activities.

Repayment of Long-Term Debt 780,000

Change in Net Position of Governmental Activities 3,824,596$


RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENSES, AND

FOR THE YEAR ENDED APRIL 30, 2021CHANGES IN FUND BALANCES TO THE STATEMENT OF ACTIVITIES


Business TypeActivities -

Enterprise FundWater and Sewer

ASSETSCurrent Assets

Cash and Investments 9,709,791$ Deposit with Paying Agent 80,880Receivables (Net of Allowance for Estimated Uncollectible Amounts)

Accounts Receivable - Billed 58,496Accounts Receivable - Unbilled 743,881Property Tax 1,538,677Other Receivables 8,749

Prepaid Items 65,547Restricted Cash and Investments 2,041,143

14,247,164$ Non-Current Assets

IMRF Net Pension Asset 438,780$ Capital Assets

Buildings and Improvements 32,558,458 Systems and Equipment 57,282,683Construction in Progress 40,631Less: Accumulated Depreciation (31,674,167)

58,646,385$ TOTAL ASSETS 72,893,549$

DEFERRED OUTFLOWS OF RESOURCESPension Expense/Revenue - IMRF 157,687$

TOTAL DEFERRED OUTFLOWS OF RESOURCES 157,687$

LIABILITIESCurrent Liabilities

Accounts Payable 219,280$ Accrued Payroll 57,931Accrued Interest 259,603Deposits Payable 6,405Unearned Revenue 86,597General Obligation Bonds Payable - Current 1,029,960 Alternate Revenue Bonds Payable - Current 290,000 IEPA Loans Payable - Current 294,266 Compensated Absences - Current 133,336

2,377,378$ Long-Term Liabilities

IMRF Total OPEB Liability 430,435$ General Obligation Bonds Payable 21,103,088 Alternate Revenue Bonds Payable 3,620,000 IEPA Loans Payable 1,794,510

26,948,033$ TOTAL LIABILITIES 29,325,411$

DEFERRED INFLOWS OF RESOURCESPension Expense/Revenue - IMRF 801,575$ Unavailable Revenue - Property Taxes 1,538,677

TOTAL DEFERRED INFLOWS OF RESOURCES 2,340,252$

NET POSITIONNet Investment in Capital Assets 36,875,781$ Restricted for:

CLCJAWA Intergovernmental Agreement 1,955,783 Debt Service 174,989

Unrestricted/(Deficit) 2,379,020

TOTAL NET POSITION 41,385,573$

APRIL 30, 2021

VILLAGE OF WAUCONDA, ILLINOISFUND FINANCIAL STATEMENTSSTATEMENT OF NET POSITION

PROPRIETARY FUNDS




OPERATING REVENUESCharges for Services

Customer Fees 5,767,898$ Penalties 43,024Tap-on Fees 15,200Water Meter Sales 3,916Other Revenue 32,727

5,862,765$ OPERATING EXPENSES

Water DepartmentPersonnel Salaries 887,924$ Contractual Services 644,924Commodities 965,360Depreciation 910,270

Sewer DepartmentPersonnel Salaries 770,712Contractual Services 475,615Commodities 319,451Depreciation 879,305

Capital Projects Not Capitalized 263,2376,116,798$

OPERATING INCOME/(LOSS) (254,033)$

NON-OPERATING REVENUE/(EXPENSE)Property Tax 1,503,014$ Investment Income 29,216 Annuity Reimbursements 310,586 Interest and Fees (771,133) CLCJAWA Payments (475,128) Other Miscellaneous Income 41,090

637,645$

CHANGE IN NET POSITION 383,612$

NET POSITION - MAY 1, 2020 41,001,961

NET POSITION - APRIL 30, 2021 41,385,573$



STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITIONPROPRIETARY FUNDS




CASH FLOWS FROM OPERATING ACTIVITIESReceipts from Customers and Users 5,939,853$ Payments to Suppliers for Goods and Services (2,799,106) Payments to Employees for Services (1,912,635)

Net Cash Provided/(Used) by Operating Activities 1,228,112$ CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES

Purchase of Capital Assets (84,509)$ Interest Paid on Capital Debt (780,461) Principal Paid on Capital Debt (1,537,531) Property Tax Receipts 1,503,014 CLCJAWA Reimbursement (475,128) Annuity Reimbursement 310,586

Net Cash Provided/(Used) by Capital and Related Financing Activities (1,064,029)$

CASH FLOWS FROM INVESTING ACTIVITIESInterest on Cash and Cash Equivalents and Investments 29,216$ Loss on Investment (3,104)

Net Cash Provided/(Used) by Investing Activities 26,112$

NET INCREASE/(DECREASE) IN CASH AND INVESTMENTS 190,195$

CASH AND INVESTMENTS BALANCE - MAY 1, 2020(INCLUDING RESTRICTED CASH AND DEPOSIT WITH PAYING AGENT) 11,508,283

CASH AND INVESTMENTS BALANCE - APRIL 30, 2021(INCLUDING RESTRICTED CASH AND DEPOSIT WITH PAYING AGENT) 11,698,478$

RECONCILIATION OF OPERATING INCOME/(LOSS) TO NETCASH PROVIDED/(USED) BY OPERATING ACTIVITIES

Operating Income/(Loss) (254,033)$ Adjustments to reconcile operating income to net cash

provided by operating activities:Depreciation Expense 1,789,575 Change in assets, liabilities and deferred amounts:

Receivables, net 19,351 Prepaid Expenses (6,034) Accounts Payable and Other Payables (168,044) OPEB/Pension Liabilities (762,995) Deferred OPEB/Pension Expenses/Revenues 610,292

Net Cash Provided/(Used) by Operating Activities 1,228,112$

No noncash capital financing activities in the current fiscal year.


VILLAGE OF WAUCONDA, ILLINOISFUND FINANCIAL STATEMENTSSTATEMENT OF CASH FLOWS

PROPRIETARY FUNDS


POLICEPENSION AGENCY

TRUST FUND FUNDSASSETS

Cash and Cash Equivalents 75,299$ 1,123,844$ Investments

U.S. Treasury Obligations 976,793 - U.S. Agency Obligations 4,474,649 - State and Local Obligations 1,211,888 - Certificates of Deposit 369,880 Corporate Bonds 1,227,463 - Mortgage Pools 311 Mutual Funds 13,422,853 - Exchange Traded Funds 76,714

Receivables (Net of Allowance for Estimated Uncollectible Amounts) Accounts Receivable - 788,996

Accrued Interest 49,820 - Prepaid Items 4,211 -

TOTAL ASSETS 21,889,881$ 1,912,840$

LIABILITIESAccounts Payable 5,047$ -$ Due to Bondholders - 1,912,307 Due to General Fund - 533

TOTAL LIABILITIES 5,047$ 1,912,840$

NET POSITION - RESTRICTED FOR PENSION BENEFITS 21,884,834$


STATEMENT OF FIDUCIARY NET POSITIONFIDUCIARY FUNDS

APRIL 30, 2021

FUND FINANCIAL STATEMENTS


POLICEPENSION

TRUST FUNDADDITIONS

ContributionsEmployer 1,047,124$ Plan Members 277,138

Total Contributions 1,324,262$

Investment IncomeInterest and Dividends 464,736$ Increase/(Decrease) in Fair Value of Investments 4,343,765

4,808,501$ Less: Investment Management Fees 47,015

Net Investment Income 4,761,486$

TOTAL ADDITIONS 6,085,748$

DEDUCTIONSBenefits 967,023$ Refunds of Contributions 147,970Administrative Expenses 25,317

TOTAL DEDUCTIONS 1,140,310$

NET INCREASE/(DECREASE) 4,945,438$

NET POSITION - RESTRICTED FOR PENSION BENEFITS - MAY 1, 2020 16,939,396

NET POSITION - RESTRICTED FOR PENSION BENEFITS - APRIL 30, 2021 21,884,834$


STATEMENT OF CHANGES IN FIDUCIARY NET POSITIONFIDUCIARY FUNDS


FUND FINANCIAL STATEMENTS


VILLAGE OF WAUCONDA, ILLINOIS NOTES TO FINANCIAL STATEMENTS

APRIL 30, 2021

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Village of Wauconda, Illinois (Village) is a municipal corporation governed by an elected mayor and six-member Board of Trustees. The Village’s major operations include public safety, highway and street maintenance and reconstruction, building code enforcement, public improvements, economic development, planning and zoning, waterworks and sewerage services as well as general administrative services. The Village’s financial statements are prepared in accordance with generally accepted accounting principles (GAAP) as applied to local governmental units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. The most significant accounting policies used by the Village are discussed below.

A. Reporting Entity The Village’s financial reporting entity comprises the following: Primary Government: Village of Wauconda In determining the financial reporting entity, the Village complies with the provisions of GASB Statements and includes all component units that have a significant operational or financial relationship with the Village. Based upon the criteria set forth in the GASB Statements, there are no component units included in the reporting entity. The Village’s sworn police officers participate in the Police Pension Employees Retirement System (PPERS). PPERS functions for the benefit of these employees and is governed by a five-member pension board. Two members appointed by the Village’s Mayor, one elected pension beneficiary and two elected police employees constitute the pension board. The participants are required to contribute a percentage of salary as established by state statute and the Village is obligated to fund all remaining PPERS costs based upon actuarial valuations. The State of Illinois is authorized to establish benefit levels and the Village is authorized to approve the actuarial assumptions used in the determination of contribution levels. Although it is legally separate from the Village, the PPERS is reported as if it were part of the primary government because its sole purpose is to provide retirement benefits for the Village’s police employees. The PPERS is reported as a pension trust fund.

B. Basic Financial Statements – Government-Wide Statements The Village’s basic financial statements include both government-wide (reporting the Village as a whole) and fund (reporting the Village’s major funds) financial statements. Both the government-wide and fund financial statements categorize primary activities as either governmental or business-type. The Village’s general government, public safety and public works services are classified as governmental activities. The Village’s water and sewer services are classified as business-type activities.

In the government-wide Statement of Net Position, both the governmental and business-type activities columns (a) are presented on a consolidated basis by column, and (b) are reported on a full accrual, economic resource basis, which recognizes all long-term assets and receivables as well as long-term debt and obligations. The Village’s net position is reported in three parts – net investment in capital assets; restricted net position; and unrestricted net position. The Village first utilizes restricted resources to finance qualifying activities.

NOTES TO FINANCIAL STATEMENTS (Continued)

Page 23

The government-wide Statement of Activities reports both the gross and net cost of each of the Village’s functions and business-type activities. The functions are also supported by general government revenues (property taxes, sales taxes, unrestricted investment earnings among other similar revenues). The Statement of Activities reduces gross expenses (including depreciation) by related program revenues, operating and capital grants. Program revenues must be directly associated with the function (public safety, public works, or general government) or a business-type activity. Program revenues include charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment. Program revenues also include grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Operating grants include operating-specific and discretionary (either operating or capital) grants while the capital grants column reflects capital-specific grants. The net costs (by function or business-type activity) are normally covered by general revenue (property taxes, sales taxes, unrestricted investment earnings, and other similar revenues). The Village does not allocate indirect costs. Direct costs are allocated amongst Village departments based on the share of goods or services used by each department.

This government-wide focus is more on the sustainability of the Village as an entity and the change in the Village’s net position resulting from the current year’s activities.

C. Basic Financial Statements – Fund Financial Statements

The financial transactions of the Village are reported in individual funds in the fund financial statements. Each fund is accounted for by providing a separate set of self-balancing accounts that comprises its assets/deferred outflows, liabilities/deferred inflows, fund equity, revenues, and expenditures/expenses. Funds are organized into three major categories: governmental, proprietary, and fiduciary. The emphasis in fund financial statements is on the major funds in either the governmental or business-type activities categories. Nonmajor funds by category are summarized into a single column. GASB Statement No. 34 sets forth minimum criteria (percentage of the assets/deferred outflows, liabilities/deferred inflows, revenues or expenditures/expenses of either fund category or the governmental and enterprise combined) for the determination of major funds. The Village electively added all funds as major funds. If a fund is not electively added as major, the determination of a major fund is as follows: Total assets/deferred outflows, liabilities/deferred inflows, revenues, or expenditures/expenses of that individual governmental or enterprise fund are at least 10% of the corresponding total for all funds of that category or type; and total assets/deferred outflows, liabilities/deferred inflows, revenues, or expenditures/expenses of the individual governmental fund or enterprise fund are at least 5% of the corresponding total for all governmental and enterprise funds combined.

The following fund types are used by the Village:

1. Governmental Funds

The focus of the governmental funds’ measurement (in the fund statements) is upon determination of financial position and changes in financial position (sources, uses, and balances of financial resources) rather than upon net income. The Village reports these governmental funds and fund types: General Fund – The General Fund is the general operating fund of the Village. It is used to account for all financial resources except those required to be accounted for in another fund. This is considered a major fund.


Page 24

Special Revenue Funds – The Special Revenue Funds are used to account for the proceeds of specific revenue sources that are legally restricted to expenditures for specified purposes. The Village has two special revenue funds. Motor Fuel Tax Fund – Used to account for the maintenance and construction of streets and roads as approved by the Illinois Department of Transportation. Financing is provided by the Village’s share of restricted gasoline taxes. The Motor Fuel Tax is treated as a major fund due to public interest. TIF Fund – Used to account for the revenues and expenditures related to the TIF District. Financing is provided by property taxes restricted for use within the TIF. The TIF Fund is treated as a major fund due to public interest. Debt Service Fund – The Debt Service Fund is used to account for the accumulation of funds for the periodic payment of principal, interest, and related fees on general long-term debt. The Debt Service Fund is treated as a major fund. Capital Projects Fund – The Capital Projects Fund is used to account for financial resources to be used for the acquisition or construction of capital projects as well as major repair and replacements (other than those financed by business-type/proprietary funds). The Capital Projects Fund is treated as a major fund.

The activities reported in these funds are reported as governmental activities in the government-wide financial statements. 2. Proprietary Fund Types

The focus of proprietary fund measurement is upon determination of operating income, changes in net position, financial position, and cash flows. The generally accepted accounting principles applicable are those similar to businesses in the private sector. The Village reports the following proprietary fund types: Enterprise Funds – Enterprise Funds are required to be used to account for operations for which a fee is charged to external users for goods or services and the activity is financed with debt that is solely secured by a pledge of the net revenues. The activities reported in these funds are reported as business-type activities in the government-wide financial statements. The Village has one major enterprise fund. Waterworks and Sewage Fund – Used to account for the provision of potable water and wastewater treatment services to the residents of the Village. All activities necessary to provide such services are accounted for in this fund, including, but not limited to, administration, operations and maintenance, financing and related debt service, billing, and collection. The Lake Michigan Water Project is also included in this fund. This project is partially funded by debt that is paid for by levied property taxes.

3. Fiduciary Fund Types

Fiduciary Funds are used to report assets held in a trust or agency capacity for others and therefore are not available to support Village programs. The reporting focus is on net position and changes in net position and is reported using accounting principles similar to proprietary funds. Pension Trust Funds – Used to account for assets held in a trustee capacity for pension benefit payments. The Police Pension Fund accounts for the accumulation of resources to be used for disability and retirement annuity payments to employees covered by the plan. Agency Funds – Used to account for assets held by the Village in a purely custodial capacity. The Village maintains one agency fund, the Special Service Area Fund, which accounts for the collection of property taxes within the special service area and the payment of related special service area debt.


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The Village’s Fiduciary Funds are presented in the Fiduciary Fund financial statements by type (pension and agency). Since by definition these assets are being held for the benefit of a third party (pension participants and beneficiaries) and cannot be used to address activities or obligations of the Village, these funds are not incorporated into the government-wide statements. D. Measurement Focus Measurement focus is a term used to describe which transactions are recorded within the financial statements. Basis of accounting refers to when transactions are recorded regardless of the measurement focus applied. All governmental funds utilize a “current financial resources” measurement focus. Only current financial assets/deferred outflows and liabilities/deferred inflows are generally included on their balance sheets. Their operating statements present sources and uses of available spendable financial resources during a given period. These funds use fund balance as their measure of available spendable financial resources at the end of the period. All proprietary and pension trust funds utilize an “economic resources” measurement focus. The accounting objectives of this measurement focus are the determination of operating income, changes in net position (or cost recovery), financial position, and cash flows. All assets/deferred outflows and liabilities/deferred inflows (whether current or noncurrent) associated with their activities are reported. Proprietary and pension trust fund equity is classified as net position. Agency funds are not involved in the measurement of results of operations; therefore, measurement focus is not applicable to them. E. Basis of Accounting

Basis of accounting refers to the point at which revenues or expenditures/expenses are recognized in the accounts and reported in the financial statements. It relates to the timing of the measurements made regardless of the measurement focus applied. 1. Accrual Both governmental and business-type activities in the government-wide financial statements and the proprietary and fiduciary fund financial statements are presented on the accrual basis of accounting. Property tax revenues are recognized in the period for which levied. Other nonexchange revenues, including intergovernmental revenues and grants, are reported when all eligibility requirements are met. Fees and charges and other exchange revenues are recognized when earned and expenses are recognized when incurred. 2. Modified Accrual The governmental fund financial statements are presented on the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recorded when susceptible to accrual; i.e., both measurable and available. “Available” means collectible within the current period or within 60 days after year-end. Property tax revenues are recognized in the period for which levied provided they are also available. Intergovernmental revenues and grants are recognized when all eligibility requirements are met, and the revenues are available. Expenditures are recognized when the related liability is incurred. Exceptions to this general rule include principal and interest on general obligation long-term debt and employee vacation and sick leave, which are recognized when due and payable.


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F. Cash and Cash Equivalents and Investments Separate bank accounts are not maintained for all of the Village’s funds. Instead, the funds maintain their uninvested cash balances in common checking accounts, with accounting records being maintained to show the portion of the common bank account balances attributable to each participating fund. Occasionally certain funds participating in the commingled bank accounts will incur overdrafts (deficits) in the accounts. Such overdrafts in effect constitute cash borrowed from other Village funds and are, therefore, interfund loans that have not been authorized by Village Board action. As of April 30, 2021, there were no cash overdrafts in any Village fund. Cash and cash equivalents as well as investments on the Statement of Net Position are considered to be cash on hand, demand deposits, or cash with fiscal agent. For the purpose of the proprietary funds Statement of Cash Flows, cash and cash equivalents are considered to be cash on hand, demand deposits, cash with fiscal agent, all highly liquid investments with an original maturity of three months or less, and investments intended to be part of the Village’s cash management policy. Investments are generally reported at fair value. Short-term investments are reported at cost, which approximates fair value. For investments, the Village categorizes its 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. G. Restricted Cash and Investments Certain unspent bond proceeds and unspent property taxes are classified as restricted cash and investments on the Balance Sheet because their use is limited by applicable covenants and laws. H. Receivables In the government-wide financial statements, receivables consist of all revenues earned at year-end and not yet received. Allowances for uncollectible accounts receivable are based upon historical trends and the periodic aging of accounts receivable. Major receivables balances for governmental activities include property taxes, sales and use taxes, franchise taxes, and grants. Business-type activities report utility charges as their major receivables. Receivables are reported net of estimated uncollectible amounts. Property tax receivable allowance for governmental funds and the enterprise fund is $23,668 and $7,732, respectively, or 0.5% of the 2020 tax levy. The allowance for water and sewer utility accounts receivable is $45,630.25 or 100% of accounts with outstanding balances older than 120 days. I. Prepaids Prepaids are valued at cost, which approximates market, using the first-in/first-out (FIFO) method. The costs of governmental fund-type prepaids are recorded as expenditures when consumed rather than when purchased. Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaids in both the government-wide and fund financial statements. J. Interfund Activity Interfund activity is reported either as loans, services provided, reimbursements or transfers. Loans are reported as interfund receivables and payables as appropriate and are subject to elimination upon consolidation. Services provided, deemed to be at market or near market rates, are treated as revenues and expenditures/expenses.


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Reimbursements are when one fund incurs a cost, charges the appropriate benefiting fund and reduces its related cost as a reimbursement. All other interfund transactions are treated as transfers. Transfers between governmental or between proprietary funds are netted as part of the reconciliation to the government-wide financial statements. In the process of aggregating data for the government-wide financial statements, some amounts reported as interfund activity and balances were eliminated or reclassified. Interfund services provided and used are not eliminated in the process of consolidation. K. Capital Assets Capital assets purchased or acquired with an original cost of $10,000 to $50,000, dependent on asset category, are reported at historical cost or estimated historical cost. Donated capital assets, donated works of art and similar items, and capital assets received in a service concession arrangement are reported at acquisition value. Additions, improvements, and other capital outlays that significantly extend the useful life of an asset are capitalized. Other costs incurred for repairs and maintenance are expensed as incurred. The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. General capital assets are long-lived assets of the Village as a whole. Infrastructure such as streets, traffic signals and signs are capitalized. The valuation basis for general capital assets are historical cost, or where historical cost is not available, estimated historical cost based on replacement costs. Capital assets in the proprietary funds are capitalized in the fund in which they are utilized. The valuation bases for proprietary fund capital assets are the same as those used for the general capital assets. Donated capital assets are capitalized at acquisition value on the date donated. Depreciation on all assets is provided on the straight-line half-year basis over the following estimated useful lives: Land Improvements 10-20 yearsBuildings 25-50 yearsMachinery and Equipment 2-20 yearsInfrastructure 15-50 years L. Deferred Outflows and Inflows of Resources

In addition to assets and liabilities, the Balance Sheets and Statements of Net Position will sometimes report separate sections for deferred outflows of resources and deferred inflows of resources. Deferred outflows of resources represent a consumption of net position that applies to a future period and so will not be recognized as an outflow of resource until then. Deferred inflows of resources represent an acquisition of net position that applies to a future period and so will not be recognized as an inflow of resource until that time. M. Compensated Absences The Village accrues accumulated unpaid vacation and associated employee-related costs when earned (or estimated to be earned) by the employee. The noncurrent portion (the amount estimated to be used in subsequent fiscal years) for governmental funds is reported only as a general long-term debt obligation in the government-wide Statement of Net Position and represents a reconciling item between the fund and government-wide presentations. In accordance with the provisions of Statement of Financial Accounting Standards No. 43, “Accounting for Compensated Absences”, no liability is recorded for nonvesting accumulating rights to receive sick pay benefits. However, a liability is recognized for that portion of accumulated sick leave that is estimated to be taken as “terminal leave” prior to retirement.


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All vacation pay is accrued when incurred in the government-wide and proprietary fund financial statements. A liability for these amounts is reported in the governmental funds only if they have matured, for example, as a result of employee resignations and retirements. N. Long-Term Obligations In the government-wide financial statements and proprietary fund financial statements, long-term debt and other long-term obligations are reported as liabilities in the applicable governmental activities or business-type activities and proprietary fund Statement of Net Position. Bond premiums and discounts are amortized over the life of the bonds on a straight-line basis, rather than expensed in the current year. Bonds payable are reported net of the applicable bond premium or discount. Bond issuance costs are reported as debt service expenditures at the time of issuance. In the fund financial statements, governmental funds recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

O. Government-Wide and Proprietary Fund Net Position

Government-wide and proprietary fund net position is divided into three components:

1. Net investment in capital assets – consists of the historical cost of capital assets less accumulated

depreciation and less any debt that remains outstanding that was used to finance those assets.

2. Restricted net position – consists of net position that is restricted by the Village’s creditors (for example, through debt covenants), by the state enabling legislation (through restrictions on shared revenues), by grantors (both federal and state), and by other contributors.

3. Unrestricted – all other net position is reported in this category. P. Governmental Fund Balances

Governmental fund balances are divided between nonspendable and spendable. Nonspendable fund balances are balances that cannot be spent because they are not expected to be converted to cash or they are legally or contractually required to remain intact.

The spendable fund balances are arranged in a hierarchy based on spending constraints. 1. Restricted – Restricted fund balances are restricted when constraints are placed on the use by

either (a) external creditors, grantors, contributors, or laws or regulations of other governments or (b) law through constitutional provisions or enabling legislation.

2. Committed – Committed fund balances are amounts that can only be used for specific purposes as a result of constraints of the Village Board. Board approval of an ordinance is required to establish, modify, or rescind a fund balance commitment. Committed amounts cannot be used for any other purpose unless the Village Board removes those constraints by taking the same type of action (ordinance). Committed fund balances differ from restricted balances because the constraints on their use do not come from outside parties, constitutional provisions, or enabling legislation.

3. Assigned – Assigned fund balances are amounts that are constrained by the Village’s intent to be used for specific purposes but are neither restricted nor committed. Intent is expressed by an


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appointed body (e.g. a budget or finance committee) or official to which the Board of Trustees has delegated the authority to assign, modify or rescind amounts to be used for specific purposes.

Assigned fund balances also include (a) all remaining amounts that are reported in governmental funds (other than the General Fund) that are not classified as nonspendable, restricted or committed, and (b) amounts in the General Fund that are intended to be used for a specific purpose. Specific amounts that are not restricted or committed in a special revenue fund are assigned for purposes in accordance with the nature of their fund type. Assignment within the General Fund conveys that the intended use of those amounts is for a specific purpose that is narrower than the general purpose of the Village itself. All assigned fund balances are the residual amounts of the fund.

4. Unassigned – Unassigned fund balance is the residual classification for the General Fund. This classification represents the General Fund balance that has not been assigned to other funds, and that has not been restricted, committed, or assigned to specific purposes within the General Fund. This classification is also used to represent negative fund balances in other funds.

The Village permits funds to be expended in the following order: Restricted, Committed, Assigned and Unassigned. Q. Minimum Fund Balance Policy The Village’s policy states that the General and Water Sewer Funds hold 25% of the annual operating expenditures in reserves. Additionally, reserves held in the General and Water Sewer Funds in excess of the stated reserves are transferred to the capital projects funds associated with the respective General and Water Sewer Funds. This reserve is intended to provide financial resources for the Village in the event of an emergency or due to the loss or reduction in a major revenue source and to provide adequate coverage for variations in cash flows due to the timing and receipts and disbursements. R. Property Tax Calendar and Revenues The Village’s property tax is levied each calendar year on all taxable real property located in the Village’s district by December of the subsequent fiscal year. The 2020 levy was passed by the Board on December 1, 2020. Property taxes attach as an enforceable lien on property as of January 1 of the calendar year they are for and are payable in two installments early in June and early in September of the following calendar year. The Village receives significant distributions of tax receipts approximately one month after these dates. S. Defining Operating Revenues and Expenses Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund’s principal ongoing operations. The principal operating revenues of the Village’s enterprise funds are charges to customers for sales and services. The Village also recognizes as operating revenue the portion of tap fees intended to recover the cost of connecting new customers to the system. Operating expenses for enterprise funds and internal service funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. T. Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates.


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NOTE 2 - DEPOSITS AND INVESTMENTS The Village maintains a cash and investment pool that is available for use by all funds, except the pension trust fund. Each fund type’s portion of this pool is displayed on the financial statements as “cash and investments”. The deposits and investments of the pension trust funds are held separately from those other funds. See note 9 for more information on the pension trust fund’s deposits and investments. The Village is allowed to invest in securities as authorized by the Illinois Compiled Statutes, Chapter 30, Act 235/Articles 2 and 6, and Chapter 40, Act 5/Article 3 – Pensions. Investments As of April 30, 2021, the Village had the following investments and maturities:

Investments Fair Value Less Than 1 1-5 5-10 More Than 10

Illinois Funds Investment Pool 9,582,161$ 9,582,161$ -$ - -

U.S. Agency Obligations 1,896 - 1,358 538 -

9,584,057$ 9,582,161$ 1,358$ 538$ -$

Investment Maturities (in Years)

The investments in the Illinois Fund Investment Pool are measured at net asset value. Illinois Funds is not registered with the Securities and Exchange Commission (SEC) but operate in a manner consistent with Rule 2a7 of the Investment Company Act of 1940. Interest Rate Risk. Interest rate risk is the risk that changes in interest rates will adversely affect the fair value of an investment. The Village’s investment policy states that the investment portfolio will remain sufficiently liquid to enable the Village to meet all operating requirements, which might be reasonably anticipated. To the extent possible, the Village will attempt to match its investments with anticipated cash flow requirements. Unless matched to a specific cash flow, the Village will not directly invest operating funds in securities maturing more than two years from the date of purchase. However, the Village may collateralize it’s repurchase agreements using longer-dated investments. Reserve funds may be invested in securities exceeding two years if the maturity of such investments coincides as nearly as practicable with the expected use of the funds.

Credit Risk. Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its obligations. Besides investing in security instruments authorized under State Statute, the Village’s investment policy further states investments shall be undertaken in a manner that seeks to ensure the preservation of capital in the overall portfolio. As of April 30, 2021, the Village’s investments were rated as follows:

Investments Credit Rating Rating Source

Illinois Funds Investment Pool AAAm Standard and Poor's

*U.S. Agency Obligations were not rated/unavailable Concentration of Credit Risk. This is the risk of loss attributed to the magnitude of the Village’s investment in a single issuer. The Village’s investment policy states that investments will be diversified by security type and institutions. With the exception of the U.S. Agency obligations and pooled investments, no more than 5% of the Village’s total investment portfolio will be invested in a single security type or with a single financial institution. The following are maximum allocations for exceptions:

Investments Minimum Maximum

Illinois Funds Investment Pool 0% 100%

U.S. Agency Obligations 0% 50%


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There are currently no investments in any one organization, excluding exceptions, which represent 5% or more of the Village’s total investments. Custodial Credit Risk. In the case of deposits, this is the risk that in the event of a bank failure, the Village’s deposits may not be returned to it. The Village’s investment policy states that collateralization will be required on two types of investments: certificates of deposit and repurchase (and reverse) agreements. In order to anticipate market changes and provide a level of security for all funds, the collateralization level will be not less than 105% of market value of principal and accrued interest. Collateral will always be held by an independent third party with which the entity has a current custodial agreement. A clearly marked evidence of ownership (safekeeping receipt) must be supplied to the Village and retained. At year-end, the entire amount of bank balance deposits was covered by FDIC insurance or collateralized. For an investment, this is the risk that in the event of the failure of the counterparty, the Village will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. The Village’s investment policy states that securities will be held by a third-party custodian designated by the Treasurer and evidenced by safekeeping receipts. At year-end, the Village’s investments in U.S. Agency Obligations are all insured or registered with the Village or its agent in the Village’s name and the Village’s investment in the Illinois Funds is not subject to custodial credit risk. NOTE 3 - FAIR VALUE MEASUREMENT The Village categorizes its 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 Village has the following recurring fair value measurements as of April 30, 2021:

Investments by fair value level 4/30/2021

U.S. Agency Obligations 1,896$ -$ 1,896$

Total Investments by fair value level 1,896$ -$ 1,896$

Investments by fair value level 4/30/2021

U.S. Treasury Obligations 976,793$ 976,793$ -$ U.S. Agency Obligations 4,474,649 - 4,474,649 State and Local Obligations 1,211,887 - 1,211,887 Corporate Bonds 1,227,464 - 1,227,464 Mortgage Pools 311 - 311 Equity Funds 13,422,853 13,422,853 - Exchange Traded Funds 76,714 76,714 - Certificates of Deposit 369,880 - 369,880

Total Investments by fair value level 21,760,551$ 14,476,360$ 7,284,191$

for Identical Assets (Level 1) Observable Inputs (Level 2)

Village of Wauconda

Police Pension FundFair Value Measurements Using:

Quoted Prices in Active Markets Significant Other

Quoted Prices in Active Marketsfor Identical Assets (Level 1)

Significant OtherObservable Inputs (Level 2)

Fair Value Measurements Using:

Debt and equity securities classified in Level 1 of the fair value hierarchy are valued using prices quoted in active markets for those securities. Debt securities and certificates of deposit classified in Level 2 of the fair value hierarchy are valued using a matrix pricing technique. Matrix pricing is used to value securities based on the securities’ relationship to benchmark quoted prices.


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NOTE 4 - CAPITAL ASSETS Capital asset activity for the year ended April 30, 2021 was as follows:

Balance BalanceMay 1, 2020 Increases Decreases April 30, 2021

Governmental ActivitiesCapital Assets not being depreciated

Land 19,284,750$ -$ -$ 19,284,750$ Construction in Progress 9,612 99,318 86,640 22,290

Total Capital Assets not being depreciated 19,294,362$ 99,318$ 86,640$ 19,307,040$

Other Capital AssetsLand Improvements 788,354$ -$ -$ 788,354$ Buildings 3,169,732 - - 3,169,732 Machinery and Equipment 3,927,794 367,465 39,379 4,255,880 Infrastructure 30,933,134 86,640 - 31,019,774

Total Other Capital Assets at Historical Cost 38,819,014$ 454,105$ 39,379$ 39,233,740$

Less Accumulated Depreciation for: Land Improvements 604,385$ 17,453$ -$ 621,838$ Buildings 1,961,618 64,364 - 2,025,982 Machinery and Equipment 2,697,122 258,122 24,878 2,930,366 Infrastructure 16,934,216 709,634 - 17,643,850

Total Accumulated Depreciation 22,197,341$ 1,049,573$ 24,878$ 23,222,036$

Other Capital Assets, Net 16,621,673$ (595,468)$ 14,501$ 16,011,704$

Governmental Activities Capital Assets, Net 35,916,035$ (496,150)$ 101,141$ 35,318,744$

Business-Type ActivitiesCapital Assets not being depreciated

Construction in Progress 4,232,390$ 58,143$ 4,249,902$ 40,631$ Total Capital Assets not being depreciated 4,232,390$ 58,143$ 4,249,902$ 40,631$

Other Capital AssetsLand Improvements 109,764$ -$ -$ 109,764$ Buildings 32,144,093 304,601 - 32,448,694 Machinery and Equipment 7,313,907 26,366 - 7,340,273 Infrastructure 45,997,109 3,945,301 - 49,942,410

Total Other Capital Assets at Historical Cost 85,564,873$ 4,276,268$ -$ 89,841,141$

Less Accumulated Depreciation for: Land Improvements 68,602$ 5,488$ -$ 74,090$ Buildings 11,188,230 690,584 - 11,878,814 Machinery and Equipment 6,566,495 179,550 - 6,746,045 Infrastructure 12,061,265 913,953 - 12,975,218

Total Accumulated Depreciation 29,884,592$ 1,789,575$ -$ 31,674,167$

Other Capital Assets, Net 55,680,281$ 2,486,693$ -$ 58,166,974$

Business-Type Activities Capital Assets, Net 59,912,671$ 2,544,836$ 4,249,902$ 58,207,605$

Depreciation expense was charged to functions as follows: Governmental Activities

General Government 41,231$ Public Safety 195,209 Public Works 813,133

Total Governmental Activities Depreciation Expense 1,049,573$

Business-Type ActivitiesWater and Sewer 1,789,575$


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NOTE 5 - LONG-TERM LIABILITY ACTIVITY Long-term liability activity for the year ended April 30, 2021 was as follows:

AmountsBalance Balance Due Within

May 1, 2020 Additions Retirements April 30, 2021 One YearGovernmental Activities

Bonds and Notes PayableGeneral Obligation Bonds 2,800,000$ -$ 640,000$ 2,160,000$ 675,000$ Alternate Revenue Bonds 1,105,000 - 140,000 965,000 150,000

Total Bonds and Notes Payable 3,905,000$ -$ 780,000$ 3,125,000$ 825,000$

Other Long-Term LiabilitiesCompensated Absences 372,210$ 541,799$ 586,276$ 327,733$ 327,733$ Net Pension Liability - IMRF 347,444 - 347,444 - - Net Pension Liability - Police 11,109,838 - 3,142,481 7,967,357 - Total OPEB Liability - IMRF 448,297 - 17,861 430,436 - Total OPEB Liability - Police 717,275 118 - 717,393 -

Total Other Long-Term Liabilities 12,995,064$ 541,917$ 4,094,062$ 9,442,919$ 327,733$

Governmental Activities Long-Term Obligations 16,900,064$ 541,917$ 4,874,062$ 12,567,919$ 1,152,733$

Business-Type ActivitiesBonds and Notes Payable

General Obligation Bonds 23,107,118$ -$ 974,070$ 22,133,048$ 1,029,960$ Alternate Revenue Bonds 4,185,000 - 275,000 3,910,000 290,000 IEPA Loans Payable 2,377,237 - 288,461 2,088,776 294,266

Total Bonds and Notes Payable 29,669,355$ -$ 1,537,531$ 28,131,824$ 1,614,226$

Other Long-Term LiabilitiesCompensated Absences 117,803$ 176,063$ 160,530$ 133,336$ 133,336$ Net Pension Liability - IMRF 347,443 - 347,443 - - Total OPEB Liability - IMRF 448,297 - 17,862 430,435 -

Total Other Long-Term Liabilities 913,543$ 176,063$ 525,835$ 563,771$ 133,336$

Business-Type ActivitiesLong-Term Obligations 30,582,898$ 176,063$ 2,063,366$ 28,695,595$ 1,747,562$

Bonds and notes payable consisted of the following at April 30, 2021:

Maturity Interest Face CarryingDate Rate Amount Amount

Governmental Activities

2015 General Obligation Bonds 12/30/2023 2.00% - 3.00% 4,645,000$ 2,160,000$

2014A General Obligation Refunding Alternate

Revenue Bonds 11/1/2026 2.00% - 3.00% 1,745,000 965,000

Total 6,390,000$ 3,125,000$

Business-Type Activities

2013 General Obligation Bonds 12/30/2032 2.00% - 3.00% 9,500,000$ 6,315,000$

2011 General Obligation Alternate Revenue Bonds 11/1/2035 4.75% - 5.50% 2,000,000 2,000,000

2014B General Obligation Refunding Alternate

Revenue Bonds 11/1/2026 2.00% - 3.00% 3,465,000 1,910,000

2017 General Obligation Bonds 12/30/2036 3.00% - 4.00% 7,000,000 6,800,000

2006 IEPA Loan (L17-2737) 2/21/2027 2.50% 4,021,879 1,511,585

2010 IEPA Loan (L17-2739) 11/6/2030 0% 1,104,792 577,191

2018 General Obligation Bonds 1/20/2029 1.64% - 1.86% 10,213,095 9,018,048

Total 37,304,766$ 28,131,824$


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For the governmental activities, compensated absences, net pension liabilities and total OPEB liabilities are generally liquidated by the General Fund. The general obligation bonds are liquidated by the Debt Service Fund. The Motor Fuel Tax Fund makes payments on the alternate revenue bonds. For the business-type activities the Waterworks and Sewerage Fund makes payments on the compensated absences, net pension liability, total OPEB liability, the general obligation bonds, the alternate revenue bonds, and the IEPA loans payable. The Village increased the 2018 General Obligation bonds to cover the 2016-2018 IEPA Loans (L17-5316, L17-5317 and L17-5379). These bonds were issued directly to IEPA. At April 30, 2021 the annual debt service requirements to service all long-term debt attributable to governmental activities are:

Year Ending April 30 Principal Interest Total

2022 825,000$ 93,750$ 918,750$ 2023 875,000 69,000 944,000 2024 915,000 42,750 957,750 2025 165,000 15,300 180,300 2026 170,000 10,350 180,350

2027-2031 175,000 5,250 180,250

3,125,000$ 236,400$ 3,361,400$

At April 30, 2021 the annual debt service requirements to service all long-term debt attributable to business-type activities are:

Year Ending April 30 Principal Interest Total

2022 1,614,226$ 749,372$ 2,363,598$ 2023 1,653,422 711,475 2,364,897 2024 1,692,915 672,668 2,365,583 2025 1,737,717 632,818 2,370,535 2026 1,772,824 591,652 2,364,476

2027-2031 7,826,706 2,342,201 10,168,907 2032-2036 9,252,439 1,255,733 10,508,172 2037-2041 2,581,575 86,059 2,667,634

28,131,824$ 7,041,978$ 35,173,802$

See other supplementary information for more detailed information on outstanding debt. Noncommitment Debt – Special service area bonds outstanding as of April 30, 2021 totaled $7,795,000. These bonds are not an obligation of the Village and are secured by the levy of an annual tax on the real property within the special service area. The Village is in no way liable for repayment but is only acting as agent for the property owners in levying and collecting the tax and forwarding the collections to bondholders. NOTE 6 - PROPERTY TAXES

Property taxes receivable recorded in these financial statements, in the amount of $6,248,546, are from the 2020 tax levy. The unavailable revenue is 99.5% of the 2020 tax levy and an allowance is recorded for the remaining 0.5%. These taxes are unavailable as none of the taxes are collected before the end of the fiscal year and the Village does not consider the amounts to be available and does not budget for their use in fiscal year 2021. The Village has determined that 100% of the amounts collected for the 2019 levy are allocable for use in fiscal year 2021 and, therefore, are recorded in these financial statements as property taxes revenue. A summary of the assessed valuation, rates, and extensions for the years 2020, 2019, and 2018 follows:


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Tax YearAssessed Valuation

Rates Extensions Rates Extensions Rates Extensions

General 0.2413 977,530$ 0.2484 981,506$ 0.2526 977,119$ Police Protection 0.3225 1,310,000 0.3315 1,310,000 0.3377 1,306,200 Bonds 0.5646 2,293,607 0.5694 2,250,225 0.5638 2,180,726 Insurance 0.0468 190,000 0.0481 190,003 0.0458 177,301 Police Pension 0.2853 1,158,773 0.2678 1,058,256 0.2736 1,058,256 IMRF 0.0197 80,003 0.0202 80,002 0.0356 137,630 Social Security 0.0640 260,002 0.0658 260,004 0.0328 126,877 Street Lighting 0.0025 10,029 0.0025 10,030 0.0026 10,026

Total Taxes Extended 1.5467 6,279,944$ 1.5537 6,140,027$ 1.5445 5,974,136$

Special Service Area #1 - 792,961$ - 777,445$ - 763,320$

2018$386,807,881

2020$406,209,143

2019$395,190,198

NOTE 7 - EXCESS OF EXPENDITURES OVER BUDGET

For the year ended April 30, 2021, the following governmental funds had expenditures that exceeded the budget.

Fund Budget Actual

Motor Fuel Tax 294,900$ 318,415$ 23,515$

Excess of ActualOver Budget

NOTE 8 - ILLINOIS MUNICIPAL RETIREMENT FUND Plan Description The Village’s defined benefit agent multiple-employer pension plan for regular employees provides retirement and disability benefits, post-retirement increases, and death benefits to plan members and beneficiaries. The Village’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. Benefits Provided IMRF has three benefit plans. The vast majority of IMRF members participate in the Regular Plan (RP). The Sheriff’s Law Enforcement Personnel (SLEP) plan is for sheriffs, deputy sheriffs, and selected police chiefs. Counties could adopt the Elected County Official (ECO) plan for officials elected prior to August 8, 2011 (the ECO plan was closed to new participants after that date). 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 of 75% of their final rate of earnings. Final rate of earnings is the highest total earnings during any consecutive 48 months within the last ten years of service, divided by 48. Under Tier 1, the pension is increased by 3% of the original amount on January 1 every year after retirement.


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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 ten 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

1/2 of the increase in the Consumer Price Index of the original pension amount. Employees Covered by Benefit Terms

All appointed employees of a participating employer who are employed in a position normally requiring 600 hours (1,000 hours for certain employees hired after 1981) or more of work in a year are required to participate. As of December 31, 2020, the following employees were covered by the benefit terms:

Inactive plan members and beneficiaries currently receiving benefits 48 Inactive plan members entitled to but not yet receiving benefits 35 Active plan members 30

Total 113

Contributions As set by statute, the Village’s Regular 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 Village’s annual contribution rate for the calendar years 2020 and 2021 were 11.35% and 10.93%, respectively. For the fiscal year ended April 30, 2021, the Village contributed $273,539 to the plan. The Village also contributes for disability benefits, death benefits, and supplemental retirement benefits, all of which are pooled at the IMRF level. Contribution rates for disability and death benefits are set by IMRF’s Board of Trustees, while the supplemental retirement benefits rate is set by statute. Net Pension Liability The components of the net pension liability of the IMRF actuarial valuation performed as of December 31, 2020, and a measurement date as of December 31, 2020, calculated in accordance with GASB Statement No. 68, were as follows: Total Pension Liability 17,086,987$

IMRF Fiduciary Net Position 17,964,547

Village's Net Pension (Asset)/Liability (877,560)

IMRF Fiduciary Net Position as a Percentage

of the Total Pension Liability 105.14% See the Schedule of Changes in the Employer’s Net Pension Liability and Related Ratios in the Required Supplementary Information following the notes to the financial statements for additional information related to the funded status of the plan. Actuarial Assumptions The total pension liability above was determined by an actuarial valuation performed as of December 31, 2020 using the following actuarial methods and assumptions:


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Assumptions

Inflation 2.25%

Salary Increases 2.85% - 13.75% including inflation

Interest Rate 7.25%

Actuarial Cost Method Entry Age NormalAsset Valuation Method Market Value of Assets

Projected Retirement AgeExperience-based Table of Rates, specific to the type of eligibility condition, last updated for the 2020valuation according to an experience study from years 2017 to 2019

For non-disabled retirees, the Pub-2010, Amount-Weighted, below-median income, General, Retiree, Male (adjusted 106%) and Female (adjusted 105%) tables, and future mortality improvements projected using scale MP-2020 were used. For disabled retirees, the Pub-2010, Amount-Weighted, below-median income, General, Disabled Retiree, Male and Female (both unadjusted) tables, and future mortality improvements projected using scale MP-2020 were used. For active members, the Pub-2010, Amount-Weighted, below-median income, General, Employee, Male and Female (both unadjusted) tables, and future mortality improvements projected using scale MP-2020 were used. Long-Term Expected Rate of Return 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 as of December 31, 2020:

Asset ClassTarget

AllocationProjected

Return

Equities 37.00% 5.00%International Equities 18.00% 6.00%Fixed Income 28.00% 1.30%Real Estate 9.00% 6.20%Alternatives 7.00%

Private Equity 6.95%Hedge Funds N/ACommodities 2.85%

Cash Equivalents 1.00% 70.00%

100.00%

Single Discount Rate A Single Discount Rate of 7.25% was used to measure the total pension liability as of December 31, 2020. The projection of cash flow used to determine this Single Discount Rate assumed that the plan members’ contributions will be made at the current contribution rate, and that employer contributions will be made at rates equal to the difference between actuarially determined contribution rates and the member rate. The Single Discount Rate reflects: 1. The long-term expected rate of return on pension plan investments (during the period in which the

fiduciary net position is projected to be sufficient to pay benefits), and

2. The tax-exempt municipal bond rate based on an index of 20-year general obligation bonds with an average AA credit rating (which is published by the Federal Reserve) as of the measurement date (to the extent that the contributions for use with the long-term expected rate of return are not met).

For the purpose of this valuation, the expected rate of return on pension plan investments is 7.25%; the municipal bond rate is 2.00%; and resulting single discount rate is 7.25%. The prior year single discount rate was 7.25% and increased 0.00% to the current year single discount rate.


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Changes in the Net Pension (Asset)/Liability

Total Pension Plan Fiduciary Net PensionLiability Net Position (Asset)/Liability

(A) (B) (A)-(B)

Balances at December 31, 2019 16,898,524$ 16,203,637$ 694,887$ Changes for the year:

Service Cost 253,404$ -$ 253,404$ Interest on the Total Pension Liability 1,198,096 - 1,198,096 Differences Between Expected and Actual Experience of the Total Pension Liability (97,274) - (97,274) Changes of Assumptions (166,226) - (166,226) Contributions - Employer - 269,819 (269,819) Contributions - Employee - 106,977 (106,977) Net Investment Income - 2,322,034 (2,322,034) Benefit Payments, including Refunds of Employee Contributions (999,537) (999,537) - Other (Net Transfer) - 61,617 (61,617)

Net Changes 188,463$ 1,760,910$ (1,572,447)$

Balances at December 31, 2020 17,086,987$ 17,964,547$ (877,560)$

Sensitivity of the Net Pension Asset to Changes in the Discount Rate The following presents the plan’s net pension liability, calculated using a Single Discount Rate of 7.25%, as well as what the plan’s net pension liability would be if it were calculated using a single Discount Rate that is 1% lower or 1% higher than the current rate:

Current1% Decrease Discount Rate 1% Increase

6.25% 7.25% 8.25%

Net Pension Liability/(Asset) 1,163,415$ (877,560)$ (2,474,709)$ Pension Income and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions For the year ended April 30, 2021, the Village recognized pension expense/(income) of $(78,322). At April 30, 2021, the Village reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Deferred Deferred Net DeferredOutflows of Inflows of (Inflows)/Outflows

Expense in Future Periods Resources Resources of Resources

Differences between expected and actualexperience 162,259$ 64,063$ 98,196$

Changes of assumptions 58,795 109,474 (50,679)

Net difference between projected and actual

earnings on pension plan investments - 1,429,613 (1,429,613) Total deferred amounts to be recognized in

pension expense in future periods 221,054$ 1,603,150$ (1,382,096)$ Pension contributions made subsequent to

the measurement date 94,320 - 94,320

Total deferred amounts related to pensions 315,374$ 1,603,150$ (1,287,776)$

$94,320 reported as deferred outflows of resources related to pensions resulting from the Village’s contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the reporting year ending April 30, 2022. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows:


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Net DeferredYear Ending (Inflows)/OutflowsDecember 31 of Resources

2021 (311,573)$ 2022 (266,226) 2023 (570,774) 2024 (233,523) 2025 -

Thereafter -

(1,382,096)$

NOTE 9 - POLICE PENSION PLAN Plan Administration Full-time police sworn personnel of the Village are covered by The Police Pension Fund of the Village (Plan). Although this is a single-member pension plan, the defined benefits and employee and employer contribution levels are governed by Illinois Compiled Statues (40 IL CS 5/3-1) and may be amended only by the Illinois legislature. The Village accounts for the Plan as a pension trust fund. No separate report is issued on this pension plan.

The Pension Board administers the Plan and the Illinois Department of Insurance is the oversight agency. The Board consists of five elected or appointed members. Plan Membership

At May 1, 2020, the date of the latest actuarial valuation, Plan participation consisted of: Inactive plan members or beneficiaries currently receiving benefits 14 Inactive plan members entitled to but not yet receiving benefits 1 Active plan members 25

Total 40

Benefits Provided

The Plan provides retirement, disability, and death benefits to Plan members and their beneficiaries. Chapter 40-Pensions-Act 5/Article 3 of the Illinois Compiled Statutes assigns the authority to establish and amend the benefit provisions of the Plan to the Illinois legislature. Covered employees hired before January 1, 2011 attaining the age of 50 or more with 20 or more years of creditable service are entitled to receive an annual retirement benefit equal to one half of the salary attached to the rank held on the last day of service, or for one year prior to the last day, whichever is greater. The annual benefit shall be increased by 2.5% of such salary for each additional year of service over 20 years up to 30 years, and 1% of such salary for each additional year of service over 30 years, to a maximum of 75% of such salary. Covered employees hired on or after January 1, 2011 attaining the age of 55 or more with 10 or more years of creditable service are entitled to receive an annual retirement benefit of 2.5% of final average salary for each year of service, with a maximum salary cap of $106,800 as of January 1, 2011. The maximum salary cap increases each year thereafter. The monthly benefit of a police officer hired before January 1, 2011, 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. The monthly pension of a police officer hired on or after January 1, 2011, shall be increased annually, following the later of the first anniversary date of retirement or the month following the attainment of age 60, but the lessor of 3% or ½ the consumer price index. Employees with at least 10 years but less than 20 years of creditable service may retire at or after age 60 and receive a reduced benefit.


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Contributions

Employees are required by Illinois Compiled Statutes (ILCS) to contribute 9.91% of their base salary to the Plan. If an employee leaves covered employment with less than 20 years of service, accumulated employee contributions may be refunded without accumulated interest. The Village is required to contribute the remaining amounts necessary to finance the plan and the administrative costs as actuarially determined by an enrolled actuary. Effective January 1, 2011, the Village has until the year 2040 to fund 90% of the past service cost for the Plan. For the year ended April 30, 2021 the Village’s contribution was 41.42% of covered payroll.

Investment Policy

The deposits and investments of the Pension Fund are held separately from those of other Village funds. Statutes authorize the Pension Fund to make deposits/invest in interest bearing direct obligations of the United States of America; obligations that are fully guaranteed or insured as to the payment of principal and interest by the United States of America; bonds, notes, debentures, or similar obligations of agencies of the United States of America; savings accounts or certificates of deposit issued by banks or savings and loan associations chartered by the United States of America or by the State of Illinois, to the extent that the deposits are insured by the agencies or instrumentalities of the federal government; credit unions, to the extent that the deposits are insured by the agencies or instrumentalities of the federal government; State of Illinois bonds; pooled accounts managed by the Illinois Funds Market Fund (Formerly known as IPTIP, Illinois Public Treasurer’s Investment Pool), or by banks, their subsidiaries or holding companies, in accordance with the laws of the State of Illinois; bonds or tax anticipation warrants of any county, township, or municipal corporation of the State of Illinois; direct obligations of the State of Israel; money market mutual funds managed by investment companies that are registered under the Federal Investment Company Act of 1940 and the Illinois Securities Law of 1953 and are diversified, open-ended management investment companies, provided the portfolio is limited to specified restrictions; general accounts of life insurance companies; and separate accounts of life insurance companies and mutual funds, the mutual funds must meet specific restrictions, provided the investment in separate accounts and mutual funds does not exceed ten percent of the Pension Fund’s plan net position; and corporate bonds managed through an investment advisor, rated as investment grade by one of the two largest rating services at the time of purchase. Pension Funds with plan net position of $2.5 million or more may invest up to forty-five percent of plan net position in separate accounts of life insurance companies and mutual funds. Pension Funds with plan net position of at least $5 million that have appointed an investment advisor, may through that investment advisor invest up to forty-five percent of the plan net position in common and preferred stocks that meet specific restrictions. In addition, Pension Funds with plan net position of at least $10 million that have appointed an investment advisor, may invest up to fifty percent of its net position in common and preferred stocks and mutual funds that meet specific restrictions effective July 1, 2011 and up to fifty-five percent effective July 1, 2012.

The Plan’s investment policy in accordance with ILCS establishes the following target allocation across asset classes:

Asset Class Rate of Return Inflation Expectations Real Rate of Return Allocation

Large Cap Domestic Equity 8.00% 2.20% 5.80% 42%Small Cap Domestic Equity 9.80% 2.20% 7.60% 12%International Equity 9.30% 2.20% 7.10% 6%Fixed Income 3.60% 2.20% 1.40% 40%

Investment Valuations

All Investments in the Plan are stated at fair value and are recorded as of the trade date. Fair value is based on quoted market prices at April 30, 2021 for debt securities, equity securities and mutual funds.


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Investment Concentrations

The Fund’s investment policy states that it will diversify its investments by security type and institution. With the exception of U.S. Treasury Obligations and U.S. Agency Obligations, no more than 50% of the entity’s total investment portfolio will be invested in a single security type or with a single financial institution. At year-end, the Fund does not have any investments over 5% of net position available for retirement benefits (other than investments issued or explicitly guaranteed by the U.S. government and investments in mutual funds, external investment pools, and other pooled investments).

Investment Rate of Return

For the year ended April 30, 2021, the annual money-weighted rate of return on pension plan investments, net of pension plan investment expense, was 27.59%. The money-weighted rate of return expresses investment performance, net of investment expense, adjusted for the changing amounts actually invested.

Deposits with Financial Institutions

The Fund investment policy states that all deposits in excess of FDIC insurable limits (applies to bank Certificates of Deposit) be secured by collateral in order to protect deposits from default. In order to anticipate market changes and provide a level of security for all funds, the collateralization level will be 110% of market value of principal and accrued interest. Collateral will always be held by an independent third party with which the entity has a current custodial agreement approved by the Treasurer. A clearly marked evidence of ownership (safekeeping receipt) must be supplied to the Fund and retained. Securities will be held by a third-party custodian designated by the Fund and evidenced by safekeeping receipts. At year-end, the entire carrying amount of the bank balance of deposits is covered by federal depository or equivalent insurance. Furthermore, the Fund’s investment in U.S. Treasury Obligations, U.S. Agency Obligations, and state and local obligations are categorized as insured, registered, or held by the Fund or its agent in the Fund’s name.

Interest Rate Risk

The following table presents the investments and maturities of the Plan’s debt securities as of April 30, 2021:

Investments Fair Value Less Than 1 1-5 5-10 More Than 10

U.S. Treasury Obligations 976,793$ 227,883$ 156,352$ 592,558$ -$ U.S. Agency Obligations 4,474,649 50,534 1,720,396 2,703,719 - Municipal Bonds 1,211,887 101,066 383,973 726,848 - Corporate Bonds 1,227,464 51,488 327,765 848,211 - Mortgage Pools 311 - - - 311 Equity Funds 13,422,853 13,422,853 - - - Exchange Traded Funds 76,714 76,714 - - -

Total 21,390,671$ 13,930,538$ 2,588,486$ 4,871,336$ 311$

Investment Maturities (in Years)

The Fund’s investment policy states that the investment portfolio will remain sufficiently liquid to enable the Fund to meet the Fund’s disbursement requirements for the payment of operating expenses and benefits. To the extent possible, the Fund will attempt to match its investments with its actuarially determined liabilities and cash flow requirements. Unless matched to a specific cash flow, the Fund will not directly invest its funds in securities maturing more than two years from the date of purchase. However, the Fund may collateralize it’s repurchase agreements using longer-dated investments. Reserve funds may be invested in securities exceeding two years if the maturity of such investments is made to coincide as nearly as practicable with the expected use of the funds.


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Credit Risk Besides investing in security instruments authorized under State Statute, the Fund’s investment policy further states investments shall be undertaken in a manner that seeks to ensure the preservation of capital in the overall portfolio. At year-end, the Fund’s investments in U.S. Agency Obligations were not rated or rated AA+ by Standard & Poor’s and state and local obligations were not rated or rated AA- to AAA by Standard & Poor’s. As of April 30, 2021, the Plan’s investments were rated as follows:

Investments Credit Rating Rating Source

U.S. Treasury Obligations Not Rated N/AU.S. Agency Obligations Not Rated or AA+ Standard and Poor'sState and Local Obligations AA- to AAA/Aa3 to A1 Standard and Poor's / Moody'sCorporate Bonds A- to AAA Standard and Poor'sMortgage Pools Not Rated N/AEquity Funds Not Rated N/AExchange Traded Funds Not Rated N/A Net Pension Liability

The components of the net pension liability of the Plan as of April 30, 2021, calculated in accordance with GASB Statement No. 68, were as follows: Total Pension Liability 29,852,192$ Plan Fiduciary Net Position 21,884,835 Village's Net Pension Liability 7,967,357 Plan Fiduciary Net Position as a percentage of the Total Pension Liability 73.31% See the Schedule of Changes in the Employer’s Net Pension Liability and Related Ratios in the Required Supplementary Information for additional information related to the funded status of the Plan. Actuarial Assumptions

The total pension liability above was determined by an actuarial valuation performed as of April 30, 2021 using the following actuarial methods and assumptions: Actuarial Valuation Date May 1, 2020

Actuarial Cost Method Entry Age Normal (Level %)

Assumptions

Inflation 2.50%

Salary Increases 3.50% - 9.38%

Investment Rate of Return 7.00%

Asset Valuation Method 5-Year Smoothed Market Value Active Mortality follows the Sex Distinct Raw Rates as developed in the PubS-2010(A) Study. Mortality improvement used MP-1029 Improvement Rates applied on a fully generational basis. 50% of active Member deaths are assumed to be in the Line of Duty. Retiree Mortality follows the L&A Assumption Study for Police 2020. These rates are experience weighted with the Sex Distinct Raw Rates as developed in the PubS-2010(A) Study improved to 2017 using MP-2019 Improvement Rates. These rates are then improved full generationally using MP-2019 Improvement Rates. Disabled Mortality follows the Sex Distinct Raw Rates as developed in the PubS-2010 Study for disabled participants. Mortality improvement uses MP-2019 Improvement Rates applied on a fully generational basis. Spouse Mortality follows the Sex Distinct Raw Rates as developed in the PubS-2010(A) Study for contingent survivors. For all rates not provided there (ages 45 and younger) the PubG-2010 Study for general employees was


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used. Mortality improvement uses MP-2019 Improvement Rates applied on a fully generational basis. Other actuarial assumptions (demographic) rates are based on a review of the L&A Assumption Study for Police 2020.

Discount Rate

The discount rate used to measure the total pension liability was 7%. The discount rate used in the determination of the Total Pension Liability is based on a combination of the expected long-term rate of return on plan investments and the municipal bond rate.

Cash flow projections were used to determine the extent which the plan’s future net position will be able to cover future benefit payments. To the extent future benefit payments are covered by the plan’s projected net position, the expected rate of return on plan investments is used to determine the portion of the net pension liability associated with those payments. To the extent future benefit payments are not covered by the plan’s projected net position, the municipal bond rate is used to determine the portion of the net pension liability associated with those payments.

Changes in the Net Pension Liability

Total Pension Plan Fiduciary Net PensionLiability Net Position Liability

(A) (B) (A)-(B)

Balances at April 30, 2020 28,049,235$ 16,939,397$ 11,109,838$

Changes for the year:Service Cost 655,910$ -$ 655,910$ Interest on the Total Pension Liability 1,938,990 - 1,938,990 Actuarial Experience (14,473) - (14,473) Changes of Assumptions 337,523 - 337,523 Contributions - Employer - 1,047,124 (1,047,124) Contributions - Employee - 250,530 (250,530) Contributions - Other - 26,608 (26,608) Net Investment Income - 4,761,486 (4,761,486) Benefit Payments, including Refunds of Employee Contributions (1,114,993) (1,114,993) - Administrative Expense - (25,317) 25,317

Net Changes 1,802,957$ 4,945,438$ (3,142,481)$

Balances at April 30, 2021 29,852,192$ 21,884,835$ 7,967,357$

Sensitivity of the Net Pension Liability to Changes in the Discount Rate

The following presents the plan’s net pension liability, calculated using a Single Discount Rate of 7.00%, as well as what the plan’s net pension liability would be if it were calculated using a single Discount Rate that is 1% lower or 1% higher:

Current 1% Decrease Discount Rate 1% Increase

6.00% 7.00% 8.00%

Net Pension Liability 12,833,593$ 7,967,357$ 4,057,100$

Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions

For the year ended April 30, 2021, the Village recognized pension expense of $592,436. At April 30, 2021, the Village reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:


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Deferred Deferred Net Deferred

Outflows of Inflows of (Inflows)/Outflows

Expense in Future Periods Resources Resources of Resources

Differences between expected and actual experience 293,945$ 246,561$ 47,384$ Assumption changes 422,184 276,004 146,180 Net difference between projected and actual

earnings on pension investments - 2,370,033 (2,370,033)

Total deferred amounts to be recognized in pension expense in future periods 716,129$ 2,892,598$ (2,176,469)$

Amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows:

Net DeferredYear Ending (Inflows)/Outflows

April 30 of Resources

2021 (506,180)$ 2022 (554,728) 2023 (529,486) 2024 (640,117) 2025 50,073

Thereafter 3,969

(2,176,469)$

NOTE 10 - POST-EMPLOYMENT BENEFIT COMMITMENTS – POST-RETIREMENT HEALTH PLAN

Plan Overview

In addition to the retirement plans described in Notes 8 and 9, the Village provides post-employment benefits other than pensions (“OPEB”) for retired employees through a single-employer defined benefit plan. The benefits, benefit levels, employee contributions and employer contributions are governed by the Village and can be amended by the Village through its personnel manual and union contracts. The plan is not accounted for as a trust fund, as an irrevocable trust has not been established to account for the plan. The plan does not issue a separate report. The activity of the plan is reported in the Village’s governmental activities.

Benefits Provided

Medical/Prescription CoverageTypes of Coverage:

UHC PPO Core with Express Scripts Rx CoverageUHC PPO Choice Plus with Express Scripts Rx Coverage

Coverage Provisions:Retirees - Non-PSEBA

Pre-65 and Post-65 Coverage:Employees may continue Employer sponsored insurance in retirement. Coverage may continue pastMedicare eligible and secondary to Medicare once eligible. Retirees are responsible for the full cost ofpremiums including premiums for any eligible spouse/dependent(s).

Eligible spouse coverage may continue should retiree coverage terminate. Coverage may continue pastMedicare eligible and secondary to Medicare once eligible. Eligible dependent(s) coverage may continueuntil age 26 should retiree coverage terminate. eligible spouse/dependent(s) are responsible for the fullcost of premiums.

Retirees - PSEBA

Pre-65 Coverage:Employees may continue Employer sponsored coverage in retirement. The Employer is responsible forthe full cost of premiums including premiums for any eligible spouse/dependent(s). Eligible spousecoverage may continue should retiree coverage terminate.

Eligible dependent(s) coverage may continue until age 26 should retiree coverage terminate. Eligiblespouse/dependent(s) are responsible for the full cost of premiums


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Post-65 Coverage:

Employees may continue Employer sponsored coverage in retirement past Medicare eligible andsecondary to Medicare once eligible. Unlike pre-65 coverage, retirees are responsible for the full cost ofpremiums including premiums for any eligible spouse/dependent(s).

Eligible spouse coverage may continue past Medicare eligible and secondary to Medicare once eligibleshould retiree coverage terminate. Eligible dependent(s) coverage may continue until age 26 shouldretiree coverage terminate. Eligible spouse/dependent(s) are responsible for the full cost of premiums.

Coverage is secondary to Medicare once eligible.

Dental, Vision and Life CoverageTypes of Coverage:

Delta Dental of IllinoisVision Service Plan (IL)The Standard Basic Life Insurance

Coverage Provisions:Retirees - Non-PSEBA

Employees may continue Employer sponsored dental and/or vision coverage in retirement. Coverage maycontinue past Medicare Eligible and secondary to Medicare once eligible. Retirees are responsible for thefull cost of premiums including premiums for any eligible spouse/dependent(s).

Eligible spouse coverage may continue should retiree coverage terminate. Coverage may continue pastMedicare eligible and secondary to Medicare once eligible. Eligible dependent(s) coverage may continueuntil age 26 should retiree coverage terminate. Eligible spouse/dependent(s) are responsible for the fullcost of premiums.

Employees may not continue Employer sponsored life insurance coverage in retirement. However,retirees may convert to individual coverage directly through the provider. Retirees are responsible for thefull cost of coverage.

Retirees - PSEBA

Employees may continue Employer sponsored dental and/or vision coverage in retirement. Coverage maycontinue past Medicare eligible and secondary to Medicare once eligible. Unlike pre-65 medical coverage,retirees are responsible for the full cost of premiums including premiums for any eligiblespouse/dependent(s).

Eligible spouse coverage may continue should retiree coverage terminate. Coverage may continue pastMedicare eligible and secondary to Medicare once eligible. Eligible dependent(s) coverage may continueuntil age 26 should retiree coverage terminate. Eligible spouse/dependent(s) are responsible for the fullcost of premiums.

Employees may not continue Employer sponsored life insurance coverage in retirement. However,retirees may convert to individual coverage directly through th provider. Retirees are responsible for thefull cost of coverage.

Eligibility

Employees of the Village are eligible for retiree health benefits as listed below:

Full-Time Employees - IMRF

Tier I IMRF full-time Village employees age 55 with at least 8 years of services are covered.

Tier II IMRF full-time Village employees age 62 with at least 10 years of service are covered.

Full-Time Employees - Police Pension

Tier I Full-Time Police Officers, age 50 or later with at least 20 years of service are covered.

Tier II Full-Time Police Officers, age 55 or later with at least 10 years of service are covered.

Membership in the plan consisted of the following at May 1, 2021, the date of the latest actuarial valuation:

Active employees 52 Inactive employees entitled to but not yet receiving benefits - Inactive employees currently receiving benefits 6

Total 58


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Contribution

The required contribution is based on projected pay-as-you-go financing requirements. Employees are not required to contribute to the plan.

Total OPEB Liability

The Village’s total OPEB liability was measured as of April 30, 2021, and the total OPEB liability was determined by an actuarial valuation as of May 1,2021.

Actuarial Assumptions

The total OPEB liability in the May 1, 2021 actuarial valuation was determined using the following actuarial assumptions, applied to all periods included in the measurement, unless otherwise specified:

Assumptions (Economic)Discount Rate Used for the Total OPEB Liability

Beginning of Year 2.56%End of Year 2.27%

Long-Term Expected Rate of Return on Plan Assets N/AHigh Quality 20 Year Tax Exempt G.O. Bond Rate

Beginning of Year 2.56%End of Year 2.27%

Total Payroll Increases 3.00%Annual Blended Premiums See Accompanying TableHealthcare Cost Trend Rates See Accompanying TableRetiree Contribution Rates Same as Healthcare Cost Trend Rates

Blended Premium Rates See accompanying tables for premiums charged for coverage.

Retiree Spouse Retiree SpousePPO Core 7,631$ 8,824$ 5,122$ 5,122$ Choice Plus 8,688$ 10,092$ 5,832$ 5,832$

Starting Per Capita Costs:

IMRFPolice

HealthCare Cost Trend Rates

Amount of Years

BetweenYear

Ultimate

Initial Ultimate Trend Trend TrendPlan Trend Trend Decrease Decreases ReachedPPO Core 7.70% 5% 0.30% 1 2031Choice Plus 7.70% 5% 0.30% 1 2031

Assumptions (Demographic)Election at Retirement Coverage election at retirement is assumed at the following rates:

All Groups 30%

Spousal Election

Annual Blended PremiumsUnder Age 65 Age 65 & Over

If an employee has waived active medical coverage, it is assumed they will electcoverage in the retiree medical plan at 1/3 the rate of active employees currently withcoverage.

Of those employees assumed to elect coverage in retirement, 50% are assumed toelect spousal coverage. Female spouses are assumed to be 3 years younger thanmale spouses.

See accompanying table for starting annual cost for the first year of the projection.

The initial trend rate is based on the 2021Segal Health Plan Cost Trend Survey. Thegrading period and ultimate trend rates selected fall within a generally accepted range.(Paragraph 57a of GASB 74)

Under Age 65 Age 65 & OverClaims Age- Adjustment Factors

1.90511.6857

1.33581.3393


Page 47

Plan Participation Rate

IMRF

PPO Core 50%

Choice Plus 50%

Retiree Lapse Rates

All Groups 100%Retirement Rates

Age Rate Age Rate50 0.110 53 0.12751 0.116 54 0.13452 0.121 55 0.140

Termination Rates

Age Rate Age Rate25 0.080 40 0.02230 0.034 45 0.01635 0.028 50 0.005

Disability Rates

Age Rate Age Rate25 0.0000 40 0.003830 0.0006 45 0.005335 0.0018 50 0.0048

Mortality RatesIMRF

Police

Of those employees assumed to elect coverage in retirement, it is assumed they willelect coverage in the available medical plans at the following rates:

Retirees receiving medical coverage are expected to lapse all coverages at age 65 atthe following rates:

RP-2014 with Blue Collar Adjustment and MP-2016 Improvement, weighted per IMRFExperience Study dated November 8, 2017; Age 85 for males, Age 88 for females

Retiree Mortality follows the L&A Assumption Study for Police 2020. These rates areexperience weighted with the Sex Distinct Raw Rates as developed in the PubS-2010(A) Study improved to 2017 using MP-2019 Improvement Rates. These rates arethen improved generationally using MP-2019 Improvement Rates.

All mortality rates are adjusted for retirement status. Spouses use the same mortality tables are retirees.

Active Mortality follows the Sex Distinct Raw Rates developed in the PubS2010(A)Study improved to 2017 using MP-2019 Improvement Rates. These rates are thenimproved generationally using MP-2019 Improvement Rates.

IMRF

Disabled Mortality follows the Sex Distinct Raw Rates as developed in the PubS-2010Study for disabled participants improved to 2017 using MP-2019 Improvement Rates.These rates are then improvement generationally using MP-2019 Improvement Rates.

IMRFBased on Rates from IMRF Experience Study Report dated November 8, 2017; Age 60 for Tier I, Age 62 for Tier II

Spouse Mortality follows the Sex Distinct Raw Rates as developed in the PubS-2010(A) Study for contingent survivors. For all rates no provided there (ages 45 andyounger) the PubG-2010 Study for general employees used. Mortality improvementuses MP-2019 Improvement Rates applied on a fully generational basis.

100% of L&A Assumption Study Cap Age 65 for Police 2020; Age 54 for Tier I, Age 55 for Tier II Sample rates are

as follows:

Based on Rates from IMRF Experience Study Report dated November 8, 2017

100% of L&A Assumption Study Cap Age 65 for Police 2020; Age 54 for Tier I, Age 55 for Tier II Sample rates are

as follows:

Police

Based on Rates from IMRF Experience Study Report dated November 8, 2017

Police

IMRF

Police

100% of L&A Assumption Study for Police 2020. Sample rates are as follows:


Page 48

Assumption Changes

Since the Employer does not have a trust dedicated exclusively to the payment of OPEB benefits, the discount rateused in the determination of the Total OPEB Liability was also changed from 2.56% to 2.27%. See the Assumptions (Economic) section for more details.

Assumptions follow the guidance in GASB 74/75 for the Alternative Measurement Method where noted.

The assumed rate on High Quality 20-year Tax-Exempt G.O. Bonds was changed from 2.56% to 2.27% for thecurrent year. The underlying index used is the Bond Buyer 20-Bond GO Index as discussed in more detail later in thissection. The choice of index is unchanged from the prior year. The rate has been updated for the current Fiscal Yearend based on changes in market conditions as reflected in the Index. The change was made to reflect ourunderstanding of the requirements of GASB under Statement 74 and Statement 75.

All mortality rates are adjusted for retirement status. Spouses use the same mortality tables are retirees.

Retirement rates shown above were used to estimate assumed retirement ages. Termination and disability rateswere used to estimate probabilities of working to retirement age. Mortality rates shown above were used to estimateassumed ages at death.

For any active IMRF participant who will not meet the service requirement necessary to retire at the single retirementages, it is assumed they have prior service with a different Employer and therefore will be eligible to retire. In the

The actuarial assumptions used in the May 1, 2021 valuation were based on procedures that conform to the Alternative Measurement Method and generally accepted actuarial principles and practices. There is no long-term expected rate of return on OPEB plan investments because the Village does not have a trust dedicated exclusively to the payment of OPEB benefits. Discount Rate The Village does not have a dedicated trust to pay retiree healthcare benefits. Per GASB 75, the discount rate should be a yield or index rate for 20-year, tax-exempt general obligation municipal bonds with an average rating of AA/Aa or higher (or equivalent quality on another rating scale). A rate of 2.27% is used, which is the S&P Municipal Bond 20-Year High-Grade Rate Index as of April 30, 2021. Changes in the Total OPEB Liability

Total OPEB Plan Fiduciary Net OPEBLiability Net Position Liability

(a) (b) (a) - (b)Balances at May 1, 2020 1,613,868$ -$ 1,613,868$

Changes for the year:Service Cost 30,519$ -$ 30,519$ Interest on Total OPEB Liability 40,443 - 40,443 Actuarial Experience (157,796) - (157,796) Assumption Changes 119,377 - 119,377 Contributions - Employer - 68,146 (68,146) Benefit Payments (68,146) (68,146) -

Net Changes (35,603)$ -$ (35,603)$

Balances at April 30, 2021 1,578,265$ -$ 1,578,265$

Increase/(Decrease)

Sensitivity of the Total OPEB Liability to Changes in the Discount Rate The following presents the total OPEB liability of the Village, as well as what the Village’s total OPEB liability would be if it were calculated using a discount rate that is 1 percentage-point lower or 1 percentage-point higher than the current discount rate:


Page 49

1% Decrease Valuation Rate 1% Increase

1.27% 2.27% 3.27%

1,744,471$ 1,578,265$ 1,435,832$

Plan's Total OPEB Liability/(Asset)

Sensitivity of the Total OPEB Liability to Changes in the Health Care Cost Trend Rates The following presents the total OPEB liability of the Village, as well as what the Village’s total OPEB liability would be if it were calculated using healthcare cost trend rates that are 1 percentage-point lower or 1 percentage-point higher than the current healthcare cost trend rates:

Healthcare Cost

1% Decrease Valuation Rate 1% Increase

Varies Varies Varies

1,427,716$ 1,578,265$ 1,752,826$

Plan's Total OPEB Liability/(Asset)

OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB For the fiscal year ended April 30, 2021, the Village recognized OPEB expense of $32,543. At April 30, 2021, the Village had no deferred outflows of resources and deferred inflows of resources related to OPEB from any sources. Changes in total OPEB liability related to the difference in actual and expected experience, or changes in assumptions regarding future events, are recognized in OPEB expense over the expected remaining service life of all employees (10.12 years, active and retired) in the postretirement plan. There were no amounts reported as deferred outflows of resources related to OPEB that will be recognized as future OPEB expense. NOTE 11 - DEFERRED COMPENSATION PLAN The Village offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 457. The plan, available to all Village employees, permits them to defer a portion of their salary until future years. Participation in the plan is optional. The deferred compensation is not available to employees until termination, retirement, death, or unforeseeable emergency. All amounts of compensation deferred under the plan are held in trust on behalf of the employees. Accordingly, the assets are not reported in these financial statements. NOTE 12 - INTERFUND BALANCES AND TRANSFERS The Village did not have interfund balances at April 30, 2021. Interfund transfers for the year ended April 30, 2021 consisted of the following:

Transfer From Transfer To Amount

General Fund Capital Projects Fund 322,651$ The purpose of the transfer was to re-establish the Capital Projects Fund during the year.


Page 50

NOTE 13 - RISK MANAGEMENT The Village is exposed to various risks related to torts; theft of, damage to, and destruction of assets; errors and omissions; and injuries to employees. The Village has purchased insurance from private insurance companies, covered risks include medical, dental, life and other. Premiums have been displayed as expenditures/expenses in appropriate funds. There were no significant changes in insurance coverages from the prior year and settlements did not exceed insurance coverage in any of the past three fiscal years. NOTE 14 - CONTINGENCIES Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies, principally the federal government. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures which may be disallowed by the grantor cannot be determined at this time although the Village expects such amounts, if any, to be immaterial. NOTE 15 - JOINT VENTURE – CENTRAL LAKE COUNTY JOINT ACTION WATER AGENCY The Agency and twelve other members have entered into a joint agreement: to provide water to member municipalities on a wholesale basis; to plan, construct, acquire, develop, operate, maintain, or contract for facilities for receiving, sorting, and transmitting water from Lake Michigan for the principal use and mutual benefit of the municipalities and their water users; and to provide adequate supplies of such water on an economical and efficient basis for the municipalities. A summary of financial condition (modified cash basis) of CLCJAWA at April 30, 2020 (most recent information available) is as follows: Assets 191,631,584$ Deferred Outflows of Resources 2,716,326

194,347,910$

Liabilities 99,076,345$ Deferred Inflows of Resources 1,876,969 Net Position 93,394,596

194,347,910$

Revenues 24,810,221$ Expenses 13,649,182

Net Increase/(Decrease) in Net Position 11,161,039$

Complete financial statements for Central Lake County Joint Action Water Agency can be obtained from the Administration Offices at 200 Rockland Rd., Lake Bluff, Illinois 60044. The Village is liable for certain debt under this agreement as well. In June 2017, the Village entered into an intergovernmental agreement with the Village of Volo (West Group) and Central Lake County Joint Action Water Agency (CLCJAWA). Under this agreement, CLCJAWA will install extended water transmission lines and appurtenant facilities to serve these areas. The construction project is estimated at $33,000,000 and will be funded by CLCJAWA loans from the State of Illinois Environmental Protection Agency. Future debt service payments under these loans will be repaid from specified revenues of the System from the sale of water to the West Group and other funds which will be specifically received from the West Group such as, but not limited to, property taxes from Volo and general obligation bond proceeds from Wauconda. As of April 30, 2021, Wauconda's share of loans was $7,700,882 and borrowings for the overall West Group project totaled $13,750,700 as shown above.


Page 51

NOTE 16 - LEGAL DEBT LIMITATION The Illinois Compiled Statutes limits the amount of indebtedness to 8.625% of the most recent available equalized assessed valuation (EAV) of the Village. 2020 EAV 406,209,143$ Statutory Debt Limit X 8.625%Legal Debt Limit 35,035,539$ Debt Applicable to Limit GO Bonds 24,293,048$ Total Debt Applicable to the Limit 24,293,048

Legal Debt Margin 10,742,491$

NOTE 17 - TAX ABATEMENT AGREEMENTS The Village negotiates property and sales tax abatement agreements on an individual basis. The Village has tax abatement agreements with two entities as of April 30, 2021 as follows:

Name of Eligibility Criteria Amount of TaxesAbatement Type of Taxes and Mechanism Abated During Amount of TaxesAgreement Abated of Abatement the Fiscal Year Abated in Total

Monster Powersports

Sales Taxes

50% of municipal sales taxes collected in excess of the baseamount will be deposited annually into a Sprinkler Escrowaccount to be used by the business to install an automatic fireprotection sprinkler system.

7,556$ 17,086$

Tractor Supply Company

Sales Taxes

For the term of this agreement, of the sales taxes paid byTractor Supply Company in each calendar year, and which aredistributed tri-annually (three times per year) to the Village bythe Department of Revenue, State of Illinois, the Village shallpay to Tractor Supply Company, or its assignee, an amountequal to seventy-five percent (75%) of such retail sales taxesallocated to, and actually received by, the Village on account ofTractor Supply Company for the first twelve (12) calendarmonths beginning with, and following, Tractor SupplyCompany's commencement of its retail sales within the Villageand thereafter fifty percent (50%) of such retail sales taxesallocated to and received by the Village on account of TractorSupply Company for the remaining term of this Agreement.Payments by the Village to Tractor Supply Company, or itsassignee, shall be made within thirty (30) days of the Village'sreceipt of such sales taxes and shall continue tri-annually.

15,204$ 40,357$

All abatement agreements are entered into under the authority of the Mayor, Village Clerk, and Village Board. NOTE 18 - CHANGE IN ACCOUNTING PRINCIPLE The Village has implemented GASB Statement No. 84, Fiduciary Activities. This Statement establishes financial reporting standards related to fiduciary activities of the Village. Implementation of this standard resulted in no change to the Village. NOTE 19 - SUBSEQUENT EVENTS Since March 2020, the COVID-19 outbreak in the United States has created disruptions in various governments and has continued to impact these organizations. The Village was not impacted during the year ended April 30, 2021. However, the extent of any additional impact on the Village is uncertain and cannot be reasonably estimated at this time.

4/30/2021* 4/30/2020* 4/30/2019* 4/30/2018* 4/30/2017* 4/30/2016*TOTAL PENSION LIABILITY

Service Cost 253,404$ 224,414$ 244,387$ 271,336$ 322,551$ 308,344$ Interest on Total Pension Liability 1,198,096 1,144,064 1,066,287 1,058,674 1,043,074 1,000,174 Differences Between Expected and Actual Experience (97,274) 278,444 616,736 10,292 (385,785) (53,553) Changes of Assumptions (166,226) - 442,501 (480,982) (35,884) 18,188 Benefit Payments, Including Refunds of Member Contributions (999,537) (832,780) (760,988) (727,684) (767,398) (610,344)

Net Change in Total Pension Liability 188,463$ 814,142$ 1,608,923$ 131,636$ 176,558$ 662,809$

Total Pension Liability - Beginning 16,898,524 16,084,382 14,475,459 14,343,823 14,167,265 13,504,456

Total Pension Liability - Ending 17,086,987$ 16,898,524$ 16,084,382$ 14,475,459$ 14,343,823$ 14,167,265$

PLAN FIDUCIARY NET POSITIONContributions - Employer 269,819$ 185,311$ 251,291$ 268,305$ 333,694$ 345,318$ Contributions - Member 106,977 104,237 105,486 108,285 144,071 129,217 Net Investment Income 2,322,034 2,683,725 (836,124) 2,241,855 808,198 60,542 Benefit Payments, Including Refunds of Member Contributions (999,537) (832,780) (760,988) (727,684) (767,398) (610,344) Administrative Expenses 61,617 66,662 616,606 (6,828) 142,497 (25,920)

Net Change in Plan Fiduciary Net Position 1,760,910$ 2,207,155$ (623,729)$ 1,883,933$ 661,062$ (101,187)$

Plan Net Position - Beginning 16,203,637 13,996,482 14,620,211 12,736,278 12,075,216 12,176,403

Plan Net Position - Ending 17,964,547$ 16,203,637$ 13,996,482$ 14,620,211$ 12,736,278$ 12,075,216$

Village's Net Pension (Asset)/Liability (877,560)$ 694,887$ 2,087,900$ (144,752)$ 1,607,545$ 2,092,049$

Plan Fiduciary Net Position as a Percentageof the Total Pension (Asset)/Liability 105.14% 95.89% 87.02% 101.00% 88.79% 85.23%

Covered Payroll 2,377,257$ 2,316,381$ 2,344,132$ 2,406,321$ 2,799,453$ 2,849,161$

Employer's Net Pension (Asset)/Liability as a Percentageof Covered Payroll -36.91% 30.00% 89.07% -6.02% 57.42% 73.43%

* This information presented is based on the actuarial valuation performed as of the December 31 year end prior to the fiscal year end listed above.This schedule is presented to illustrate the requirement to show information for ten years. However, until a full ten-year trend is compiled, information is presented for those years forwhich information is available.

VILLAGE OF WAUCONDA, ILLINOISILLINOIS MUNICIPAL RETIREMENT FUND

SCHEDULE OF CHANGES IN THE EMPLOYER'S NET PENSIONLIABILITY AND RELATED RATIOS

APRIL 30, 2021

Page 52See Accompanying Independent Auditor's Report

4/30/2021* 4/30/2020* 4/30/2019* 4/30/2018* 4/30/2017* 4/30/2016*

Actuarially-Determined Contribution 269,819$ 185,311$ 251,291$ 268,305$ 333,695$ 345,318$

Contributions in relation to Actuarially-Determined Contribution 269,819 185,310 251,291 268,305 333,694 345,318

Contribution deficiency/(excess) -$ 1$ -$ -$ 1$ -$

Covered Payroll 2,441,967$ 2,354,219$ 2,255,678$ 2,432,085$ 2,625,303$ 2,849,161$

Contributions as a percentage of Covered Payroll 11.05% 7.87% 11.14% 11.03% 12.71% 12.12%

Notes to Schedule:Actuarial Method and Assumptions Used on the Calculation of the 2020 Contribution Rate *

Actuarial Cost Method: Aggregate Entry Age Normal

Amortization Method: Level percentage of payroll, closed

Remaining Amortization Period: 23-year closed period

Asset Valuation Method: 5-year smoothed market; 20% corridor

Wage Growth: 3.25%

Investment Rate of Return: 7.25%

*Based on Valuation Assumptions used in the December 31, 2018 actuarial valuation; note two year lag between valuation and rate setting.

This schedule is presented to illustrate the requirement to show information for ten years. However, until a full ten-year trend is compiled, information is presented for those years for which information isavailable.

VILLAGE OF WAUCONDA, ILLINOISILLINOIS MUNICIPAL RETIREMENT FUND

SCHEDULE OF EMPLOYER CONTRIBUTION APRIL 30, 2021

Price Inflation: 2.50%, approximate; No explicit price inflation assumption is used in this valuation.

Salary Increases: 3.35% to 14.25%, including inflation

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.

Retirement Age: Experience-based table of rates that are specific to the type of eligibility condition. Last updated for the 2017 valuation pursuant to an experience study of the period 2014-2016.

Mortality: For non-disabled retirees, an IMRF specific mortality table was used with fully generational projection scale MP-2017 (base year 2015). The IMRF specific rates were developed from the RP-2014Blue 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-2017 (base year 2015). 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 activemembers, an IMRF specific mortality table was used with fully generational projection scale MP-2017 (base year 2015). The IMRF specific rates were developed from the RP-2014 Employee Mortality Tablewith adjustments to match current IMRF experience.


4/30/2021 4/30/2020 4/30/2019 4/30/2018 4/30/2017 4/30/2016 4/30/2015TOTAL PENSION LIABILITY

Service Cost 655,910$ 636,694$ 647,501$ 659,172$ 616,049$ 499,291$ 513,865$ Interest 1,938,990 1,825,784 1,697,091 1,584,983 1,537,280 1,405,657 1,305,353 Changes in Benefit Terms - 75,590 - - - - - Differences Between Expected and Actual Experience (14,473) (316,292) 280,450 122,232 20,908 343,849 138,284 Changes in Assumptions 337,523 142,294 - - (817,194) 184,207 1,212,915 Benefit Payments, Including Refunds of Member Contributions (1,114,993) (794,918) (778,239) (751,442) (599,691) (505,680) (482,942)

Net Change in Total Pension Liability 1,802,957$ 1,569,152$ 1,846,803$ 1,614,945$ 757,352$ 1,927,324$ 2,687,475$

Total Pension Liability - Beginning 28,049,235 26,480,083 24,633,280 23,018,335 22,260,983 20,333,659 17,646,184

Total Pension Liability - Ending 29,852,192$ 28,049,235$ 26,480,083$ 24,633,280$ 23,018,335$ 22,260,983$ 20,333,659$

PLAN FIDUCIARY NET POSITIONContributions - Employer 1,047,124$ 1,059,916$ 993,976$ 919,462$ 847,281$ 724,641$ 656,839$ Contributions - Member 250,530 246,384 241,678 236,313 239,668 352,303 239,128 Contributions - Other 26,608 - - - 27,220 - - Net Investment Income 4,761,486 338,332 1,024,787 971,511 1,099,073 94,706 740,637 Benefit Payments, Including Refunds of Member Contributions (1,114,993) (794,918) (778,239) (751,442) (599,691) (505,680) (482,942) Administrative Expenses (25,317) (26,641) (26,791) (27,799) (22,076) (18,933) (17,670)

Net Change in Plan Fiduciary Net Position 4,945,438$ 823,073$ 1,455,411$ 1,348,045$ 1,591,475$ 647,037$ 1,135,992$

Plan Net Position - Beginning 16,939,397 16,116,324 14,660,913 13,312,868 11,721,393 11,074,356 9,938,364

Plan Net Position - Ending 21,884,835$ 16,939,397$ 16,116,324$ 14,660,913$ 13,312,868$ 11,721,393$ 11,074,356$

Village's Net Pension Liability 7,967,357$ 11,109,838$ 10,363,759$ 9,972,367$ 9,705,467$ 10,539,590$ 9,259,303$

Plan Fiduciary Net Position as a Percentageof the Total Pension Liability 73.31% 60.39% 60.86% 59.52% 57.84% 52.65% 54.46%

Covered Payroll 2,527,787$ 2,498,037$ 2,395,838$ 2,542,898$ 2,456,906$ 2,281,658$ 2,303,706$

Employer's Net Pension Liability as a Percentageof Covered Payroll 315.19% 444.74% 432.57% 392.17% 395.03% 461.93% 401.93%

This schedule is presented to illustrate the requirement to show information for ten years. However, until a full ten-year trend is compiled, information is presented for those years for which informationis available.

VILLAGE OF WAUCONDA, ILLINOISPOLICE PENSION PLAN

SCHEDULE OF CHANGES IN THE EMPLOYER'S NET PENSIONLIABILITY AND RELATED RATIOS

APRIL 30, 2021


4/30/2021 4/30/2020 4/30/2019 4/30/2018 4/30/2017 4/30/2016 4/30/2015

Actuarially-Determined Contribution 1,054,757$ 1,058,249$ 994,801$ 919,462$ 850,373$ 681,106$ 656,562$

Contributions in relation to Actuarially-Determined Contribution 1,047,124 1,059,916 993,976 919,462 847,281 724,641 656,839

Contribution deficiency/(excess) 7,633$ (1,667)$ 825$ -$ 3,092$ (43,535)$ (277)$

Covered Payroll 2,527,787$ 2,498,037$ 2,395,838$ 2,542,898$ 2,456,906$ 2,281,658$ 2,303,706$

Contributions as a percentage of Covered Payroll 41.4% 42.4% 41.5% 36.2% 34.5% 31.8% 28.5%

Notes to Schedule:Actuarial Method and Assumptions Used on the Calculation of the 2020 Contribution Rate *

Actuarial Cost Method: Entry Age Normal (Level % Pay)

Amortization Method: Level percentage of payroll, closed

Amortization Target: 100% Funded Over 23 Years

Asset Valuation Method: 5-year smoothed market value

Total Payroll Increases: 3.50%

Expected Rate of Return on Investments: 7.00%

Mortality: RP-2014 Adjusted for Plan Status, Collar, and Illinois Public Pension Data, as Appropriate

This schedule is presented to illustrate the requirement to show information for ten years. However, until a full ten-year trend is compiled, information is presented for those years for which information is available.

Disability Rates: 100% of L&A 2016 Illinois Police Disability Rates

The Actuarially Determined Contribution shown above or the current year is the Recommended Contribution from the May 1, 2018 Actuarial Valuation completed by Lauterbach & Amen, LLP for the December 2018 tax levy. Themethods and assumptions shown below are based on the same Actuarial Valuation. For more detail on the age-based and service-based rates disclosed below, please see the Actuarial Valuation.

Inflation (CPI-U): 2.50%

Individual Pay Increases: 3.50% to 9.38%

Retirement Rates: 100% of L&A 2016 Illinois Police Retirement Rates Capped at Age 65

Termination Rates: 100% of L&A 2016 Illinois Police Termination Rates

VILLAGE OF WAUCONDA, ILLINOISPOLICE PENSION PLAN

SCHEDULE OF EMPLOYER CONTRIBUTIONLAST TEN FISCAL YEARS

This schedule is presented to illustrate the requirement to show information for ten years. However, until a full ten-year trend is compiled, information is presented for those years for which information isavailable.


Annual Money-Weighted Rateof Return, Net

Fiscal of Investment Year Expense

2015 7.26%2016 0.84%2017 9.48%2018 7.07%2019 6.77%2020 2.04%2021 27.59%


SCHEDULE OF INVESTMENT RETURNS POLICE PENSION PLAN

APRIL 30, 2021

This schedule is presented to illustrate the requirement to show information for ten years. However,until a full ten-year trend is compiled, information is presented for those years for which information isavailable.


4/30/2021 4/30/2020 4/30/2019TOTAL OPEB LIABILITY

Service Cost 30,519$ 24,689$ 23,200$ Interest 40,443 52,841 53,653 Differences Between Expected and Actual Experience (157,796) - - Benefit Payments (68,146) (56,956) (52,605) Changes in Assumptions 119,377 170,433 20,829

Net Change in Total OPEB Liability (35,603)$ 191,007$ 45,077$

Total OPEB Liability - Beginning 1,613,868 1,422,861 1,377,784

Total OPEB Liability - Ending 1,578,265$ 1,613,868$ 1,422,861$

OPEB PLAN FIDUCIARY NET POSITIONContributions - Employer 68,146$ 56,956$ 52,605$ Benefit Payments (68,146) (56,956) (52,605)

Net Change in OPEB Plan Net Position -$ -$ -$

OPEB Plan Net Position - Beginning - - -

OPEB Net Position - Ending -$ -$ -$

Village's Total OPEB Plan Liability 1,578,265$ 1,613,868$ 1,422,861$

OPEB Plan Fiduciary Net Position as a Percentageof the Total OPEB Liability 0.00% 0.00% 0.00%

Covered-Employee Payroll 4,918,090$ 4,807,472$ 4,436,826$

Employer's Net OPEB Liability as a Percentageof Covered-Valuation Payroll 32.09% 33.57% 32.07%

This schedule is presented to illustrate the requirement to show information for ten years. However, until a full ten-year trendis compiled, information is presented for those years for which information is available.

VILLAGE OF WAUCONDA, ILLINOISOTHER POST-EMPLOYMENT BENEFIT

SCHEDULE OF CHANGES IN THE EMPLOYER'S NET OPEB LIABILITY AND RELATED RATIOS

APRIL 30, 2021


AmountsOriginal Actual

and Final AmountsREVENUES

Local Taxes 3,870,352$ 3,848,899$ Intergovernmental 3,813,195 5,749,694 Other Local Sources

Licenses and Permits 220,122 257,199 Fines and Forfeitures 272,341 346,250 Charges for Services 457,224 504,710 Interest 34,439 7,094 Miscellaneous 28,040 25,029

Total Revenues 8,695,713$ 10,738,875$

EXPENDITURESCurrent

General Government 2,695,908$ 2,743,166$ Public Safety 4,571,358 4,382,575 Public Works 1,044,076 994,549

Total Expenditures 8,311,342$ 8,120,290$

EXCESS OR (DEFICIENCY) OF REVENUESOVER EXPENDITURES 384,371$ 2,618,585$

OTHER FINANCING SOURCES/(USES)Transfers (260,520) (322,651)

NET CHANGE IN FUND BALANCE 123,851$ 2,295,934$

FUND BALANCE - MAY 1, 2020 4,586,361

FUND BALANCE - APRIL 30, 2021 6,882,295$

Budgeted


FOR THE YEAR ENDED APRIL 30, 2021GENERAL FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGESIN FUND BALANCES - BUDGET AND ACTUAL


BudgetedAmounts

Actualand Final Amounts

REVENUESIntergovernmental

State Motor Fuel Tax 485,618$ 505,732$ Grants 315,298 517,549

Other Local SourcesInterest 2,145 621Miscellaneous 500 -

Total Revenues 803,561$ 1,023,902$

EXPENDITURESCurrent

Public Works 1,750$ 39,805$ Capital Outlay 120,000 105,460Debt Service

Principal 140,000 140,000Interest and Fees 33,150 33,150

Total Expenditures 294,900$ 318,415$

NET CHANGE IN FUND BALANCE 508,661$ 705,487$

FUND BALANCE - MAY 1, 2020 274,585

FUND BALANCE - APRIL 30, 2021 980,072$

Original

VILLAGE OF WAUCONDA, ILLINOISSCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES

IN FUND BALANCES - BUDGET AND ACTUALSPECIAL REVENUE FUND - MOTOR FUEL TAX FUND



BudgetedAmountsOriginal Actual

and Final AmountsREVENUES

Local TaxesProperty Tax 280,980$ 233,201$

Other Local Sources Interest 72 41

Miscellaneous 500 - Total Revenues 281,552$ 233,242$

EXPENDITURESCurrent

General Government 40,750$ 16,961$ Capital Outlay 30,000 -


NET CHANGE IN FUND BALANCE 210,802$ 216,281$




FOR THE YEAR ENDED APRIL 30, 2021SPECIAL REVENUE FUND - TAX INCREMENT FINANCING FUND

SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGESIN FUND BALANCES - BUDGET AND ACTUAL


VILLAGE OF WAUCONDA, ILLINOIS NOTES TO REQUIRED SUPPLEMENTARY INFORMATION

APRIL 30, 2021 NOTE 1 - BUDGET Annual budgets are adopted on a basis consistent with generally accepted accounting principles. Annual appropriated budgets are adopted for general, special revenue, debt service, enterprise, and pension trust fund types. All annual appropriations lapse at fiscal year-end. All departments of the Village submit requests for budgets to the Village Administrator so that a budget may be prepared. The budget is prepared by fund, function, department, and object, and includes information on the past two years, current year estimates, and requested budgets for the next fiscal year. The proposed budget is presented to the Board of Trustees for review. The Board of Trustees holds public hearings and may add to, subtract from, or change budgeted amounts. The Board of Trustees then adopts a management budget for budgetary control purposes. The Administrator is authorized to transfer budgeted amounts between departments within any fund; however, any revisions that alter the total expenditures of any fund must be approved by the governing body. Legally expenditures may not exceed appropriations at the fund level. The budget was approved on June 16, 2020 and there were no amendments for fiscal year 2021. NOTE 2 - EXCESS OF EXPENDITURES OVER BUDGET

For the year ended April 30, 2021, the Motor Fuel Tax Fund expenditures were over budget by $23,515.

SUPPLEMENTARY INFORMATION


and Final AmountsLocal Taxes

Property Tax - General 971,307$ 971,187$ Property Tax - Public Safety 1,303,450 1,296,227 Property Tax - Public Works 9,980 9,924 Property Tax - Pension 1,058,256 1,047,124 Property Tax - Insurance 268,655 267,167 Property Tax - Payroll Tax 258,704 257,270

3,870,352$ 3,848,899$ Intergovernmental

State Sales Tax 1,435,203$ 1,995,287$ State Use Tax 441,265 635,443 State Income Tax 1,260,656 1,834,858 Cannabis Tax 11,300 13,861 State Replacement Tax 24,560 48,096 State Utility Tax 436,435 405,614 State Video Gaming Tax 146,415 199,734 State Road and Bridge Tax 32,376 32,237 Grants 24,985 584,564

3,813,195$ 5,749,694$ Other Local Sources

Licenses and PermitsLicenses

Liquor 40,500$ 42,592$ Business 24,750 23,873

PermitsBuilding 80,000 114,766 Public Works 150 260 Oversize/Overweight Permit 11,000 5,960 Boat Permit 61,500 66,240 Ice Shanty 2,222 3,508

220,122$ 257,199$ Fines and Forfeitures

Court Fines 112,000$ 116,310$ Local Fines 15,000 4,822 Ordinance Violations 32,500 15,983 Forfeitures 9,000 6,399 DUI Fines 6,500 771 PD SB-1089 6,000 592 Red Light Camera 80,031 185,281 Impoundment 11,310 16,092

272,341$ 346,250$

VILLAGE OF WAUCONDA, ILLINOISSCHEDULE OF REVENUES - BUDGET AND ACTUAL

GENERAL FUNDFOR THE YEAR ENDED APRIL 30, 2021

Budgeted



and Final Amounts

VILLAGE OF WAUCONDA, ILLINOISSCHEDULE OF REVENUES - BUDGET AND ACTUAL


Budgeted

Other Local Sources (Continued)Charges for Services

Cable TV Franchise Fees 189,266$ 182,917$ Telephone Franchise Fees 56,458 49,163 Police Services 83,500 125,614 Housing Inspection Fees 17,000 7,915 Plumbing Inspection Fees 10,000 16,200 Electrical Inspection Fees 16,500 27,075 Planning and Zoning Fees 1,500 2,200 Impact Fees - 450 False Alarms 1,500 1,825 Printing 1,500 1,967 Rental 80,000 89,384

457,224$ 504,710$

Interest 34,439$ 7,094$

MiscellaneousDonations 1,403$ 6,414$ Reimbursements 21,637 1,014 Other Miscellaneous 5,000 17,601

28,040$ 25,029$

Total Revenues 8,695,713$ 10,738,875$



and Final AmountsGeneral Government

Administration Personnel Services 403,402$ 408,436$ Contractual Services 121,582 129,937 Commodities 55,631 142,674

580,615$ 681,047$ Community Development

Personnel Services 294,948$ 289,452$ Contractual Services 64,273 53,556 Commodities 35,237 30,279

394,458$ 373,287$ Retirement

Personnel Services 1,518,160$ 1,484,074$ 1,518,160$ 1,484,074$

TortContractual Services 202,674$ 204,758$

202,674$ 204,758$

Total General Government 2,695,907$ 2,743,166$

Public SafetyPolice Department

Personnel Services 3,664,504$ 3,593,490$ Contractual Services 501,719 493,825 Commodities 233,187 159,559

4,399,410$ 4,246,874$ Marine/Lake Management


119,944$ 94,890$ Emergency Management Agency


52,000$ 40,811$

Total Public Safety 4,571,354$ 4,382,575$

Public WorksHighways and Streets


1,044,076$ 994,549$

Total Public Works 1,044,076$ 994,549$

Total Expenditures 8,311,337$ 8,120,290$

VILLAGE OF WAUCONDA, ILLINOISSCHEDULE OF EXPENDITURES - BUDGET AND ACTUAL


Budgeted


BudgetedAmounts

Actual and Final Amounts

REVENUESLocal Taxes

Property Tax 727,584$ 723,552$ Interest 10 5

Total Revenues 727,594$ 723,557$

EXPENDITURESCurrent

General Government 750$ 750$ Debt Service

Principal 640,000 640,000Interest and Fees 84,000 84,000


NET CHANGE IN FUND BALANCE 2,844$ (1,193)$



Original


IN FUND BALANCES - BUDGET AND ACTUALDEBT SERVICE FUND



BudgetedAmounts

Actual and Final Amounts

REVENUESOther Local Sources

Grants 50,506$ 24,128$ Interest - 65 Miscellaneous 100 -

Total Revenues 50,606$ 24,193$

EXPENDITURESCapital Outlay 777,975$ 627,793$


EXCESS OR (DEFICIENCY) OF REVENUESOVER EXPENDITURES (727,369)$ (603,600)$

OTHER FINANCING SOURCES/(USES)Transfers 325,520 322,651

NET CHANGE IN FUND BALANCE (401,849)$ (280,949)$



Original


IN FUND BALANCES - BUDGET AND ACTUALCAPITAL PROJECTS FUND




and Final AmountsOPERATING REVENUES

Charges for Services 5,837,876$ 5,862,765$

OPERATING EXPENSESOperations

Water Department 2,949,294$ 2,498,208$ Sewer Department 1,839,698 1,565,778 Capital Projects 377,347 263,237 Depreciation 1,750,000 1,789,575

TOTAL OPERATING EXPENSES 6,916,339$ 6,116,798$

NON-OPERATING REVENUE/(EXPENSE)Property Tax 1,549,773$ 1,503,014$ Investment Income 91,206 29,216 Annuity Reimbursements 310,586 310,586 Interest and Fees (780,463) (771,133)

CLCJAWA Payments (475,128) (475,128) Other Miscellaneous Income - 41,090

TOTAL NON-OPERATING REVENUE/(EXPENSE) 695,974$ 637,645$

CHANGE IN NET POSITION (382,489)$ 383,612$

NET POSITION - MAY 1, 2020 41,001,961

NET POSITION - APRIL 30, 2021 41,385,573$

Budgeted

VILLAGE OF WAUCONDA, ILLINOISSCHEDULE OF REVENUES, EXPENSES, AND CHANGES

IN NET POSITION - BUDGET AND ACTUALENTERPRISE FUND




and Final Amounts

Charges for ServicesWater Department

Charges 2,887,127$ 2,914,544$ Penalties 32,407 22,345Tap-on Fees 2,850 5,750Water Meter Sales 4,500 3,916Other Revenue 6,819 24,968

2,933,703$ 2,971,523$ Sewer Department

Charges 2,867,356$ 2,853,354$ Penalties 26,886 20,679Tap-on Fees 3,150 9,450Other Revenue 6,781 7,759

2,904,173$ 2,891,242$

Total Revenues 5,837,876$ 5,862,765$

VILLAGE OF WAUCONDA, ILLINOISSCHEDULE OF OPERATING REVENUES - BUDGET AND ACTUAL

ENTERPRISE FUNDFOR THE YEAR ENDED APRIL 30, 2021

Budgeted



and Final AmountsWater Department

Personnel Services 1,080,476$ 887,924$ Contractual Services 677,101 644,924Commodities 1,191,717 965,360

2,949,294$ 2,498,208$ Sewer Department

Personnel Services 938,405$ 770,712$ Contractual Services 568,136 475,615Commodities 333,157 319,451

1,839,698$ 1,565,778$ Operations - Capital Projects

Capital Outlay 2,034,681$ 347,747$ Less Nonoperating Items

Assets Capitalized (1,657,334) (84,510) 377,347$ 263,237$

Operations - Debt ServicePrincipal Retired 1,537,530$ 1,537,530$ Interest and Fees 780,463 771,133Less Nonoperating Items

Debt Service (2,317,993) (2,308,663) -$ -$

Depreciation 1,750,000$ 1,789,575$

Total Operating Expenses 6,916,339$ 6,116,798$

Budgeted

VILLAGE OF WAUCONDA, ILLINOISSCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL

ENTERPRISE FUNDFOR THE YEAR ENDED APRIL 30, 2021



and Final AmountsADDITIONS

ContributionsEmployer 1,058,256$ 1,047,124$ Plan Members 256,838 277,138

Total Contributions 1,315,094$ 1,324,262$

Investment IncomeInterest and Dividends 464,736$ Net Increase/(Decrease) in Fair Value of Investments 4,343,765

889,225$ 4,808,501$ Less: Investment Management Fees 41,000 47,015

Net Investment Income 848,225$ 4,761,486$

TOTAL ADDITIONS 2,163,319$ 6,085,748$

DEDUCTIONSBenefits 936,807$ 967,023$ Refunds of Contributions - 118,044 Transfers to other Public Pension Funds - 29,926Administrative Expenses 25,000 25,317

TOTAL DEDUCTIONS 961,807$ 1,140,310$

NET INCREASE/(DECREASE) 1,201,512$ 4,945,438$

NET POSITION - RESTRICTED FOR PENSION BENEFITS - MAY 1, 2020 16,939,396

NET POSITION - RESTRICTED FOR PENSION BENEFITS - APRIL 30, 2021 21,884,834$

Budgeted


SCHEDULE OF CHANGES IN FIDUCIARY NET POSITION - BUDGET AND ACTUALFIDUCIARY FUNDS



Beginning Ending Balances Additions Deductions Balances

ASSETSCurrent Assets

Cash and Cash Equivalents 1,132,359$ 1,123,844$ 1,132,359$ 1,123,844$ Receivables (Net of Allowance for

Estimated Uncollectible Amounts)Accounts Receivable 773,558 788,996 773,558 788,996

TOTAL ASSETS 1,905,917$ 1,912,840$ 1,905,917$ 1,912,840$

LIABILITIESCurrent Liabilities

Accounts Payable 166$ -$ 166$ -$ Due to Bond Holders 1,905,751 1,912,307 1,905,751 1,912,307 Due to General Fund - 533 - 533

TOTAL LIABILITIES 1,905,917$ 1,912,307$ 1,905,917$ 1,912,840$

VILLAGE OF WAUCONDA, ILLINOISSTATEMENT OF CHANGES IN ASSETS AND LAIBILITIES

AGENCY FUNDFOR THE YEAR ENDED APRIL 30, 2021


Date of Issue March 15, 2011Date of Maturity November 1, 2035Authorized Issue 2,000,000$ Denomination of Bonds 5,000$ Interest Rates 4.75% - 5.50%Principal Maturity Date May 1 and November 1Interest Dates November 1Payable at The Bank of New York Mellon Trust Company

Fiscal Year Principal Interest Total May 1 Amount November 1 Amount

2022 -$ 104,460$ 104,460$ 2021 52,230$ 2021 52,230$ 2023 - 104,460 104,460 2022 52,230 2022 52,230 2024 - 104,460 104,460 2023 52,230 2023 52,230 2025 - 104,460 104,460 2024 52,230 2024 52,230 2026 - 104,460 104,460 2025 52,230 2025 52,230 2027 - 104,460 104,460 2026 52,230 2026 52,230 2028 180,000 104,460 284,460 2027 52,230 2027 52,230 2029 190,000 95,910 285,910 2028 47,955 2028 47,955 2030 200,000 86,886 286,886 2029 43,443 2029 43,443 2031 210,000 76,686 286,686 2030 38,343 2030 38,343 2032 220,000 65,976 285,976 2031 32,988 2031 32,988 2033 230,000 54,426 284,426 2032 27,213 2032 27,213 2034 245,000 42,350 287,350 2033 21,175 2033 21,175 2035 255,000 28,876 283,876 2034 14,438 2034 14,438 2036 270,000 14,850 284,850 2035 7,425 2035 7,425

2,000,000$ 1,197,180$ 3,197,180$ 598,590$ 598,590$

Interest Due on

VILLAGE OF WAUCONDA, ILLINOISLONG-TERM DEBT REQUIREMENTS

GENERAL OBLIGATION ALTERNATE REVENUE BOND SERIES OF 2011FOR THE YEAR ENDED APRIL 30, 2021

CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS


Date of Issue February 28, 2013Date of Maturity December 30, 2032Authorized Issue 9,500,000$ Denomination of Bonds 5,000$ Interest Rates 2.00% - 3.00%Principal Maturity Date June 30 and December 30Interest Dates June 30 and December 30Payable at The Bank of New York Mellon Trust Company

Fiscal Year Principal Interest Total June 30 Amount December 30 Amount

2022 445,000$ 169,842$ 614,842$ 2021 86,296$ 2021 83,546$ 2023 460,000 158,593 618,593 2022 80,734 2022 77,859 2024 475,000 147,030 622,030 2023 74,984 2023 72,046 2025 490,000 135,030 625,030 2024 69,046 2024 65,984 2026 500,000 122,474 622,474 2025 62,921 2025 59,553 2027 515,000 108,586 623,586 2026 56,046 2026 52,540 2028 530,000 94,355 624,355 2027 48,965 2027 45,390 2029 545,000 79,712 624,712 2028 41,678 2028 38,034 2030 565,000 64,587 629,587 2029 34,184 2029 30,403 2031 580,000 48,769 628,769 2030 26,415 2030 22,354 2032 595,000 31,950 626,950 2031 18,150 2031 13,800 2033 615,000 13,945 628,945 2032 9,225 2032 4,720

6,315,000$ 1,174,873$ 7,489,873$ 608,644$ 566,229$

Interest Due on


GENERAL OBLIGATION BOND SERIES OF 2013FOR THE YEAR ENDED APRIL 30, 2021



Date of Issue September 9, 2014Date of Maturity November 1, 2026Authorized Issue 1,745,000$ Denomination of Bonds 5,000$ Interest Rates 2.00% - 3.00%Principal Maturity Date May 1 and November 1Interest Dates May 1 and November 1Payable at The Bank of New York Mellon Trust Company


2022 150,000$ 28,950$ 178,950$ 2021 14,475$ 2021 14,475$ 2023 150,000 24,450 174,450 2022 12,225 2022 12,225 2024 155,000 19,950 174,950 2023 9,975 2023 9,975 2025 165,000 15,300 180,300 2024 7,650 2024 7,650 2026 170,000 10,350 180,350 2025 5,175 2025 5,175 2027 175,000 5,249 180,249 2026 2,625 2026 2,624

965,000$ 104,249$ 1,069,249$ 52,125$ 52,124$

Interest Due on


GENERAL OBLIGATION REFUNDING ALTERNATE REVENUE BOND SERIES OF 2014AFOR THE YEAR ENDED APRIL 30, 2021



Date of Issue September 9, 2014Date of Maturity November 1, 2026Authorized Issue 3,465,000$ Denomination of Bonds 5,000$ Interest Rates 2.00% - 3.00%Principal Maturity Date May 1 and November 1Interest Dates May 1 and November 1Payable at The Bank of New York Mellon Trust Company


2022 290,000$ 57,300 347,300$ 2021 28,650$ 2021 28,650$ 2023 300,000 48,600 348,600 2022 24,300 2022 24,300 2024 310,000 39,600 349,600 2023 19,800 2023 19,800 2025 325,000 30,300 355,300 2024 15,150 2024 15,150 2026 335,000 20,550 355,550 2025 10,275 2025 10,275 2027 350,000 10,500 360,500 2026 5,250 2026 5,250

1,910,000$ 206,850$ 2,116,850$ 103,425$ 103,425$

Interest Due on


GENERAL OBLIGATION REFUNDING ALTERNATE REVENUE BOND SERIES OF 2014BFOR THE YEAR ENDED APRIL 30, 2021



Date of Issue March 26, 2015Date of Maturity December 30, 2023Authorized Issue 4,645,000$ Denomination of Bonds 5,000$ Interest Rates 2.00% - 3.00%Principal Maturity Date December 30Interest Dates December 30Payable at The Bank of New York Mellon Trust Company

Interest Due onFiscal Year Principal Interest Total December 30 Amount

2022 675,000$ 64,800$ 739,800$ 2021 64,800$ 2023 725,000 44,550 769,550 2022 44,550 2024 760,000 22,800 782,800 2023 22,800

2,160,000$ 132,150$ 2,292,150$ 132,150$


GENERAL OBLIGATION REFUNDING BOND SERIES OF 2015FOR THE YEAR ENDED APRIL 30, 2021



Date of Issue September 1, 2017Date of Maturity December 30, 2036Authorized Issue 7,000,000$ Interest Rates 3.00% - 4.00%Principal Maturity Date December 30Interest Dates June 30 and December 30Payable at The Bank of New York Mellon Trust Company


2022 125,000$ 222,750$ 347,750$ 2021 111,375$ 2021 111,375$ 2023 125,000 219,000 344,000 2022 109,500 2022 109,500 2024 125,000 215,250 340,250 2023 107,625 2023 107,625 2025 125,000 211,500 336,500 2024 105,750 2024 105,750 2026 125,000 207,750 332,750 2025 103,875 2025 103,875 2027 150,000 204,000 354,000 2026 102,000 2026 102,000 2028 150,000 199,500 349,500 2027 99,750 2027 99,750 2029 150,000 195,000 345,000 2028 97,500 2028 97,500 2030 175,000 190,500 365,500 2029 95,250 2029 95,250 2031 175,000 185,250 360,250 2030 92,625 2030 92,625 2032 175,000 180,000 355,000 2031 90,000 2031 90,000 2033 200,000 174,750 374,750 2032 87,375 2032 87,375 2034 1,100,000 168,750 1,268,750 2033 84,375 2033 84,375 2035 1,200,000 135,750 1,335,750 2034 67,875 2034 67,875 2036 1,300,000 98,250 1,398,250 2035 49,125 2035 49,125 2037 1,400,000 56,000 1,456,000 2036 28,000 2036 28,000

6,800,000$ 2,864,000$ 9,664,000$ 1,432,000$ 1,432,000$

Interest Due on





Date of Issue February 18, 2018Date of Maturity *Authorized Issue 11,000,000$ Actual Issue *Interest Rates 1.64% - 1.86%Principal Maturity Date December 30Interest Dates June 30 and December 30Payable at The Bank of New York Mellon Trust Company


2022 459,960$ 158,699$ 618,659$ 2021 80,371$ 2021 78,328$ 2023 468,207 150,452 618,659 2022 76,266 2022 74,186 2024 476,600 142,058 618,658 2023 72,087 2023 69,971 2025 485,147 133,513 618,660 2024 67,834 2024 65,679 2026 493,845 124,814 618,659 2025 63,504 2025 61,310 2027 502,701 115,958 618,659 2026 59,096 2026 56,862 2028 511,715 106,944 618,659 2027 54,609 2027 52,335 2029 520,890 97,768 618,658 2028 50,041 2028 47,727 2030 530,233 88,426 618,659 2029 45,392 2029 43,034 2031 539,741 78,918 618,659 2030 40,658 2030 38,260 2032 549,421 69,238 618,659 2031 35,840 2031 33,398 2033 559,276 59,384 618,660 2032 30,935 2032 28,449 2034 569,306 49,353 618,659 2033 25,941 2033 23,412 2035 579,517 39,141 618,658 2034 20,858 2034 18,283 2036 589,912 28,746 618,658 2035 15,684 2035 13,062 2037 600,491 18,165 618,656 2036 10,417 2036 7,748 2038 336,861 8,664 345,525 2037 5,055 2037 3,609 2039 244,225 3,228 247,453 2038 2,149 2038 1,079

9,018,048$ 1,473,469$ 10,491,517$ 756,737$ 716,732$

Interest Due on




*This GO Debt is issued to the Illinois Environmental Protection Agency (IEPA). It is made up of three IEPA loans.


Date of Issue June 1, 2006Date of Maturity February 21, 2027Authorized Issue 4,021,879$ Interest Rates 2.50%Principal Maturity Date February 21 and August 21Interest Dates February 21 and August 21Payable at Illinois Environmental Protection Agency (IEPA)

Fiscal Year Principal Interest Total August 21 Amount February 21 Amount

2022 236,546$ 36,321$ 272,867$ 2021 18,895$ 2022 17,426$ 2023 242,496 30,370 272,866 2022 15,938 2023 14,432 2024 248,596 24,270 272,866 2023 12,907 2024 11,363 2025 254,851 18,015 272,866 2024 9,799 2025 8,216 2026 261,261 11,605 272,866 2025 6,614 2026 4,991 2027 267,835 5,030 272,865 2026 3,348 2027 1,682

1,511,585$ 125,611$ 1,637,196$ 67,501$ 58,110$

Interest Due on


ILLINOIS ENVIRONMENTAL PROTECTION AGENCY (IEPA) LOAN PAYABLE - L17-2737FOR THE YEAR ENDED APRIL 30, 2021



Date of Issue September 5, 2010Date of Maturity November 6, 2030Authorized Issue 1,224,194$ Interest Rates 0.00%Principal Maturity Date May 6 and November 6Interest Dates N/APayable at Illinois Environmental Protection Agency (IEPA)

Fiscal Year Principal Interest Total

2022 57,720$ -$ 57,720$ 2023 57,719 - 57,719 2024 57,719 - 57,719 2025 57,719 - 57,719 2026 57,719 - 57,719 2027 57,719 - 57,719 2028 57,719 - 57,719 2029 57,719 - 57,719 2030 57,719 - 57,719 2031 57,719 - 57,719

577,191$ -$ 577,191$



ILLINOIS ENVIRONMENTAL PROTECTION AGENCY (IEPA) LOAN PAYABLE - L17-2739FOR THE YEAR ENDED APRIL 30, 2021


STATISTICAL SECTION

STATISTICAL SECTION

(Unaudited)

This part of the comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the Village’s overall financial health.

Financial Trends These schedules contain trend information to help the reader understand how the Village’s financial performance and well-being have changed over time.

Revenue Capacity These schedules contain information to help the reader assess the Village’s most significant local revenue sources.

Debt Capacity These schedules present information to help the reader assess the affordability of the Village’s current levels of outstanding debt and the Village’s ability to issue additional debt in the future.

Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the Village’s financial activities take place.

Operating Information These schedules contain service and infrastructure data to help the reader understand how the information in the Village’s financial report relates to the services the Village provides and the activities it performs.

2021 2020 2019 * 2018 2017 2016 2015 2014 2013 2012Governmental Activities Net Investment in Capital Assets 32,309,472$ 32,165,338$ 32,519,207$ 32,497,022$ 32,322,373$ 31,667,155$ 31,302,786$ 31,546,949$ 31,610,586$ 31,509,783$ Restricted 1,939,186 1,067,438 1,056,615 457,330 1,245,482 1,200,477 1,491,521 1,328,977 963,008 1,344,310 Unrestricted (4,466,840) (7,275,554) (8,000,638) (7,914,149) (8,923,903) (7,776,983) 2,217,460 1,582,939 3,175,356 2,467,053 Total Governmental Activities Net Position 29,781,818$ 25,957,222$ 25,575,184$ 25,040,203$ 24,643,952$ 25,090,649$ 35,011,767$ 34,458,865$ 35,748,950$ 35,321,146$

Business-Type Activities Net Investment in Capital Assets 36,875,781$ 37,143,316$ 37,634,634$ 37,665,269$ 40,036,187$ 40,568,576$ 41,123,652$ 40,970,471$ 41,413,738$ 41,675,941$ Restricted 2,130,772 2,530,172 4,194,165 5,134,687 - - - - - - Unrestricted 2,379,020 1,328,473 (217,827) 2,236,519 5,869,646 5,326,722 4,946,245 4,770,199 2,190,222 3,275,563 Total Business-Type Activities Net Position 41,385,573$ 41,001,961$ 41,610,972$ 45,036,475$ 45,905,833$ 45,895,298$ 46,069,897$ 45,740,670$ 43,603,960$ 44,951,504$

Primary Government Net Investment in Capital Assets 69,185,253$ 69,308,654$ 70,153,841$ 70,162,291$ 72,358,560$ 72,235,731$ 72,426,438$ 72,517,420$ 73,024,324$ 73,185,724$ Restricted 4,069,958 3,597,610 5,250,780 5,592,017 1,245,482 1,200,477 1,491,521 1,328,977 963,008 1,344,310 Unrestricted (2,087,820) (5,947,081) (8,218,465) (5,677,630) (3,054,257) (2,450,261) 7,163,705 6,353,138 5,365,578 5,742,616 Total Primary Government Net Position 71,167,391$ 66,959,183$ 67,186,156$ 70,076,678$ 70,549,785$ 70,985,947$ 81,081,664$ 80,199,535$ 79,352,910$ 80,272,650$

* 2019 beginning net position, in both the Governmental Activities and Business-Type Activities, was adjusted due to the implementation of GASB 75

Data SourceAudited Financial Statements

VILLAGE OF WAUCONDA

NET POSITION BY COMPONENTLAST TEN FISCAL YEARS

Page 81

2021 2020 2019 2018 2017 2016 2015 2014 2013 2012Expenses Governmental Activities General Government 2,672,028$ 2,753,606$ 1,324,316$ 1,973,901$ 1,438,771$ 2,006,230$ 1,702,170$ 1,663,559$ 1,460,969$ 1,292,508$ Public Safety 4,106,447 4,900,767 5,810,932 5,850,903 6,315,192 6,844,607 5,508,739 5,453,326 5,478,483 5,485,258 Public Works 2,075,611 2,881,395 2,371,517 2,565,671 2,150,729 2,118,674 2,251,060 1,998,821 1,838,839 1,799,849 Interest on Long-Term Debt 108,543 147,190 149,171 140,230 225,683 250,155 202,072 363,829 385,206 348,042 Total Governmental Activities Expenses 8,962,629$ 10,682,958$ 9,655,936$ 10,530,705$ 10,130,375$ 11,219,666$ 9,664,041$ 9,479,535$ 9,163,497$ 8,925,657$

Business-Type Activities Water and Sewer 7,363,059 8,462,956 12,321,028 7,318,648 5,293,881 5,179,981 4,727,368 5,078,585 5,874,271 5,866,011

Total Primary Government Expenses 16,325,688$ 19,145,914$ 21,976,964$ 17,849,353$ 15,424,256$ 16,399,647$ 14,391,409$ 14,558,120$ 15,037,768$ 14,791,668$

Program Revenues Governmental Activities Charges for Services General Government 558,052$ 495,757$ 621,339$ 374,133$ 629,394$ 764,779$ 688,814$ 662,308$ 720,774$ 701,723$ Public Safety 549,397 521,982 650,432 515,918 259,128 278,319 259,380 440,293 393,769 384,362 Public Works 1,724 48,101 236 224,618 - - - - - - Capital Grants/Contributions 561,005 - - 25,802 365,201 24,742 472,316 - - - Operating Grants/Contributions 1,114,424 562,432 419,527 507,949 130,968 368,346 21,633 425,096 480,106 435,360 Total Governmental Activities Program Revenues 2,784,602$ 1,628,272$ 1,691,534$ 1,648,420$ 1,384,691$ 1,436,186$ 1,442,143$ 1,527,697$ 1,594,649$ 1,521,445$

Business-Type Activities Charges for Services Water and Sewer 5,862,765$ 5,541,683$ 5,227,147$ 4,718,851$ 4,504,421$ 4,407,180$ 4,372,631$ 4,682,648$ 4,174,163$ 4,092,948$ Operating Grants/Contributions - - - - - 23,000 - - 96,550 - Total Business-Type Activities Program Revenues 5,862,765$ 5,541,683$ 5,227,147$ 4,718,851$ 4,504,421$ 4,430,180$ 4,372,631$ 4,682,648$ 4,270,713$ 4,092,948$

Total Primary Government Program Revenues 8,647,367$ 7,169,955$ 6,918,681$ 6,367,271$ 5,889,112$ 5,866,366$ 5,814,774$ 6,210,345$ 5,865,362$ 5,614,393$

Net (Expenses) Revenues Governmental Activities (6,178,027)$ (9,054,686)$ (7,964,402)$ (8,882,285)$ (8,745,684)$ (9,783,480)$ (8,221,898)$ (7,951,838)$ (7,568,848)$ (7,404,212)$ Business-Type Activities (1,500,294) (2,921,273) (7,093,881) (2,599,797) (789,460) (749,801) (354,737) (395,937) (1,603,558) (1,773,063) Total Primary Government Net (Expenses) Revenues (7,678,321)$ (11,975,959)$ (15,058,283)$ (11,482,082)$ (9,535,144)$ (10,533,281)$ (8,576,635)$ (8,347,775)$ (9,172,406)$ (9,177,275)$

(Continued)

VILLAGE OF WAUCONDASCHEDULE OF CHANGES IN NET POSITION

LAST TEN FISCAL YEARS

Page 82

2021 2020 2019 2018 2017 2016 2015 2014 2013 2012General Revenues and Other Changes in Net Position Governmental Activities Taxes Property 4,805,652$ 4,725,145$ 4,596,654$ 4,914,293$ 3,896,053$ 4,229,851$ 4,132,279$ 4,017,239$ 3,991,032$ 3,986,680$ Intergovernmental - Unrestricted Sales 1,995,287 1,933,281 1,985,629 2,097,781 2,132,767 2,150,605 2,044,245 1,820,763 1,717,173 1,683,761 Use 635,443 494,275 425,932 - - - - - - - Income 1,834,858 1,389,315 1,449,436 1,229,689 1,282,597 1,391,407 1,370,444 1,299,065 1,287,081 1,152,528 Utility 405,614 421,196 468,419 456,578 479,778 470,098 499,753 562,235 554,418 646,730 Other 293,928 328,885 277,705 271,184 248,187 225,019 196,418 149,328 80,445 62,965 Investment Income 7,826 75,345 72,417 583,224 10,017 13,417 798 1,273 3,767 3,685 Miscellaneous 24,015 69,282 37,154 19,054 112,066 242,753 345,672 399,083 321,063 433,590 Transfers - - 152,817 152,330 137,522 151,812 185,191 (1,587,233) 41,673 - Total Governmental Activities 10,002,623$ 9,436,724$ 9,466,163$ 9,724,133$ 8,298,987$ 8,874,962$ 8,774,800$ 6,661,753$ 7,996,652$ 7,969,939$

Business-Type Activities Taxes Property 1,503,014$ 1,471,848$ 1,528,314$ 607,281$ 604,669$ 604,668$ 601,027$ 610,447$ -$ -$ Investment Income 29,216 171,963 227,948 576,181 19,536 7,444 20,121 24,381 2,808 23,273 CLCJAWA Reimbursement - 353,933 1,737,457 - - - - - - - Miscellaneous 351,676 314,518 738,480 344,576 313,312 311,858 248,007 310,586 294,879 252,866 Transfers - - (152,817) (152,330) (137,522) (151,812) (185,191) 1,587,233 (41,673) - Total Business-Type Activities 1,883,906$ 2,312,262$ 4,079,382$ 1,375,708$ 799,995$ 772,158$ 683,964$ 2,532,647$ 256,014$ 276,139$

Total Primary Government 11,886,529$ 11,748,986$ 13,545,545$ 11,099,841$ 9,098,982$ 9,647,120$ 9,458,764$ 9,194,400$ 8,252,666$ 8,246,078$

Changes in Net Position Governmental Activities 3,781,140$ 382,038$ 1,501,761$ 841,848$ (446,697)$ (908,518)$ 552,902$ (1,290,085)$ 427,804$ 565,727$ Business-Type Activities 383,612 (609,011) (3,014,499) (1,224,089) 10,535 22,357 329,227 2,136,710 (1,347,544) (1,496,924) Total Primary Government 4,164,752$ (226,973)$ (1,512,738)$ (382,241)$ (436,162)$ (886,161)$ 882,129$ 846,625$ (919,740)$ (931,197)$


LAST TEN FISCAL YEARS

VILLAGE OF WAUCONDASCHEDULE OF CHANGES IN NET POSITION

Page 83

2021 2020 2019 2018 2017 2016 2015 2014 2013 2012General Fund Nonspendable 92,537$ 69,299$ 146,630$ 124,615$ 332,001$ 128,430$ 193,197$ 220,359$ 271,470$ 187,361$ Restricted 156,748 266,698 297,284 25,297 809,601 1,017,721 913,232 768,087 121,291 216,560 Committed - - 123,203 147,530 - - - - - - Assigned 146,268 151,865 - - - - - - - - Unassigned 6,486,742 4,098,499 3,765,844 2,821,748 2,076,238 3,103,214 2,757,449 2,060,522 3,518,855 2,838,289 Total General Fund 6,882,295$ 4,586,361$ 4,332,961$ 3,119,190$ 3,217,840$ 4,249,365$ 3,863,878$ 3,048,968$ 3,911,616$ 3,242,210$

All Other Governmental Funds Restricted 1,808,639$ 888,064$ 759,331$ 432,033$ 435,881$ 230,936$ 618,821$ 595,908$ 870,973$ 1,149,910$ Assigned 598,329 879,278 - - - - - 74,872 74,871 74,871 Unassigned - - - - (420,964) (1,004) (2,278) - - -

Total All Other Governmental Funds 2,406,968$ 1,767,342$ 759,331$ 432,033$ 14,917$ 229,932$ 616,543$ 670,780$ 945,844$ 1,224,781$

Total All Governmental Funds 9,289,263$ 6,353,703$ 5,092,292$ 3,551,223$ 3,232,757$ 4,479,297$ 4,480,421$ 3,719,748$ 4,857,460$ 4,466,991$


VILLAGE OF WAUCONDA

FUND BALANCES - GOVERNEMENTAL FUNDSLAST TEN FISCAL YEARS

Page 84

2021 2020 2019 2018 2017 2016 2015 2014 2013 2012REVENUES Taxes 4,805,652$ 4,725,145$ 4,596,654$ 4,914,293$ 3,896,053$ 4,229,851$ 4,132,279$ 4,017,239$ 3,991,032$ 3,986,680$ Licenses, Permits and Fees 257,199 175,099 234,704 252,246 162,425 180,761 147,215 134,744 236,244 251,266 Intergovernmental 6,772,975 5,107,399 5,026,648 4,563,181 4,639,498 4,630,217 4,604,809 4,256,487 4,119,223 3,981,344 Charges for Services 504,710 488,069 709,964 512,778 466,969 584,093 550,524 539,314 508,605 469,032 Fines and Forfeitures 346,250 355,131 327,339 318,984 259,128 278,319 259,380 440,293 393,769 384,362 Interest 7,826 75,345 72,417 24,700 10,017 13,417 798 1,273 3,767 3,685 Miscellaneous 49,157 138,808 95,982 174,040 112,066 242,753 345,672 399,083 321,063 433,590 Total Revenues 12,743,769$ 11,064,996$ 11,063,708$ 10,760,222$ 9,546,156$ 10,159,411$ 10,040,677$ 9,788,433$ 9,573,703$ 9,509,959$

EXPENDITURES General Government 2,760,877$ 2,582,851$ 1,421,459$ 1,753,388$ 1,697,005$ 1,609,633$ 1,579,465$ 1,499,380$ 1,297,106$ 1,235,684$ Public Safety 4,382,575 4,277,670 5,394,002 5,430,008 6,039,449 5,728,403 5,355,090 5,266,759 5,339,644 5,350,381 Public Works 1,034,354 1,145,750 1,425,807 1,432,582 1,760,539 1,385,532 1,116,474 1,515,768 1,065,988 1,092,006 Capital Outlay 733,253 926,789 599,301 1,279,109 293,765 675,920 490,978 123,711 658,129 824,347 Debt Service Principal Retirement 780,000 735,000 704,035 666,515 992,079 713,520 606,007 587,780 578,333 461,179 Interest and Fiscal Charges 117,150 135,525 153,852 165,220 195,391 199,339 318,275 370,462 391,801 396,797 Total Expenditures 9,808,209$ 9,803,585$ 9,698,456$ 10,726,822$ 10,978,228$ 10,312,347$ 9,466,289$ 9,363,860$ 9,331,001$ 9,360,394$

Excess or (Deficiency) of Revenues Over (Under) Expenditures 2,935,560$ 1,261,411$ 1,365,252$ 33,400$ (1,432,072)$ (152,936)$ 574,388$ 424,573$ 242,702$ 149,565$

Other Financing Sources (Uses) Debt Issuance -$ -$ -$ -$ -$ -$ 6,390,000$ 24,948$ 106,094$ 499,416$ Premium on Debt Issuance - - - - - - 89,010 - - - Payment to Escrow Agent - - - - - - (6,507,662) - - - Sale of Capital Assets - - 23,000 38,446 48,010 - 29,746 - - 9,700 Transfers In 322,651 1,312,379 152,817 447,330 170,973 719,707 200,000 12,767 518,209 60,267 Transfers Out (322,651) (1,312,379) - (295,000) (33,451) (567,895) (14,809) (1,600,000) (476,536) (60,267)

-$ -$ 175,817$ 190,776$ 185,532$ 151,812$ 186,285$ (1,562,285)$ 147,767$ 509,116$

Net Change in Fund Balances 2,935,560$ 1,261,411$ 1,541,069$ 224,176$ (1,246,540)$ (1,124)$ 760,673$ (1,137,712)$ 390,469$ 658,681$

Debt Service as a Percentage of Noncapital Expenditures 9.60% 9.32% 9.43% 8.80% 11.95% 9.58% 9.97% 10.75% 11.19% 10.13%


VILLAGE OF WAUCONDA

SCHEDULE OF CHANGES IN FUND BALANCES

LAST TEN FISCAL YEARSGOVERNMENTAL FUNDS

Page 85

TotalEstimated Total

Residential Commercial Industrial Assessed Direct TaxFiscal Year Levy Year Property Farm Property Property Value Rate

2012 2011 313,623,067$ 377,131$ 47,133,115$ 46,589,065$ 407,722,378$ 0.9812013 2012 275,467,702 360,505 45,398,903 43,326,682 364,553,792 1.2702014 2013 256,344,873 326,773 42,122,180 40,625,340 339,419,166 1.3982015 2014 248,618,195 323,002 39,244,909 39,894,457 328,080,563 1.4722016 2015 260,958,198 385,017 38,995,293 40,157,214 340,495,722 1.2902017 2016 283,230,144 305,225 39,566,920 41,062,227 364,164,516 1.4772018 2017 298,006,653 322,305 40,924,725 43,108,713 382,362,396 1.5502019 2018 302,432,801 329,998 40,862,100 43,182,982 386,807,881 1.5442020 2019 310,979,604 362,860 40,415,224 43,432,510 395,190,198 1.5542021 2020 321,653,451 368,630 40,847,364 43,339,698 406,209,143 1.546

Data SourceOffice of the County Clerk

VILLAGE OF WAUCONDA

ASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTYLAST TEN LEVY YEARS

Page 86

2021 2020 2019 2018 2017 2016 2015 2014 2013 2012Village Direct Rates General 0.241 0.248 0.253 0.258 0.280 0.312 0.332 0.319 0.438 0.438 Police Protection 0.323 0.332 0.338 0.335 0.339 0.363 0.384 0.374 0.209 0.181 Audit - - - - - - 0.011 0.011 0.010 0.009 Tort Immunity 0.047 0.048 0.046 0.046 0.049 0.052 0.054 0.052 0.052 0.045 Street and Bridge 0.003 0.003 0.003 0.003 0.003 0.003 0.003 0.003 0.003 0.002 Bond and Interest 0.565 0.569 0.564 0.579 0.479 0.230 0.382 0.364 0.335 0.146 IMRF 0.020 0.020 0.036 0.036 0.040 0.043 0.045 0.043 0.039 0.013 Social Security 0.064 0.066 0.033 0.033 0.035 0.037 0.040 0.038 0.034 0.020 Police Pension 0.285 0.268 0.274 0.260 0.253 0.250 0.221 0.194 0.150 0.127 Total Direct Rates 1.546 1.554 1.545 1.550 1.478 1.290 1.472 1.398 1.270 0.981

Overlapping Rates Lake County 0.598 0.597 0.612 0.622 0.632 0.663 0.683 0.663 0.608 0.554 Lake County Forest Preserve 0.182 0.180 0.182 0.187 0.193 0.208 0.210 0.218 0.212 0.201 Wauconda Park District 0.460 0.462 0.459 0.455 0.466 0.493 0.487 0.460 0.418 0.360 Wauconda Library District 0.439 0.442 0.446 0.442 0.450 0.480 0.526 0.527 0.474 0.412 Wauconda Fire District 0.666 0.659 0.657 0.652 0.662 0.699 0.709 0.681 0.614 - Fremont Library District 0.358 0.355 0.357 0.358 0.457 0.484 0.489 0.468 0.430 0.381 Wauconda Unit School District #118 6.771 5.989 6.981 7.063 7.076 7.452 7.446 7.074 6.296 5.363 Fremont School District #79 3.237 3.197 3.176 3.209 3.298 3.514 3.607 3.521 3.267 2.937 Mundelein High School District #12 2.512 2.489 2.543 2.552 2.620 2.771 2.828 2.645 2.439 2.165 Community School District #532 0.290 0.282 0.282 0.281 0.285 0.299 0.306 0.296 0.272 0.240

Total Direct and Overlapping Rates 17.059 16.204 17.239 17.371 17.617 18.353 18.763 17.951 16.300 13.594


Note: Rates are per $1,000 of Assessed Value. Overlapping property tax rates are not available for all fiscal years.

N/A - Information Not Available

VILLAGE OF WAUCONDA

PROPERTY TAX RATES - DIRECT AND OVERLAPPING GOVERNMENTSLAST TEN FISCAL YEARS

Page 87

Taxpayer

Taxable Assessed

Value Rank

Percentage of Total Village

Taxable Assessed

Value

Taxable Assessed

Value Rank

Percentage of Total Village

Taxable Assessed

ValueSynergy Flavors, Inc 3,352,219$ 1 0.83% 1,591,115$ 9 0.39%Wauconda Health Care 2,595,922 2 0.64% 1,991,281 4 0.49%Fidelitone Inc 1,563,152 3 0.38% 2,664,227 2 0.65%Cannella Properties Wauconda 1,329,538 4 0.33%Lemoyne Associates 1,326,561 5 0.33% 1,858,131 5 0.46%BRF II Liberty Square LLC 1,273,219 6 0.31%Wauconda Plaza 1,269,994 7 0.31% 1,992,428 7 0.49%1400 Old Rand Road LLC 983,132 8 0.24%American Mobile Home Communities 949,468 9 0.23%WJJM Specialties 906,613 10 0.22%RGP-LP - Liberty Square 3,855,925 1 0.95%Inland Wauconda Crossings 2,629,539 3 0.64%Denmar V 1,637,518 6 0.40%K-Wall Corporation 1,599,748 8 0.39%K-Wall Corporation 1,333,191 10 0.33%


VILLAGE OF WAUCONDA

SCHEDULE OF PRINCIPAL TAXPAYERS IN THE DISTRICTCURRENT YEAR AND NINE YEARS AGO

2021 2012

Page 88

Fiscal Year 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013Tax Levy Year 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011Taxes Extended for Levy Year 6,282,703$ 6,140,027$ 5,974,136$ 5,925,826$ 5,380,301$ 4,391,881$ 4,828,253$ 4,745,080$ 4,629,833$ 3,999,757$ Amount of Levy Collected within the Fiscal Year of the Levy - 6,075,466 5,964,554 5,919,574 5,363,805 4,375,907 4,828,253 4,728,776 4,623,156 3,991,031 Percentage of Levy Collected within the Fiscal Year of the Levy 0.00% 98.95% 99.84% 99.89% 99.69% 99.64% 100.00% 99.66% 99.86% 99.78%Amount of Collections in Subsequent Years - - - - - - - - 4,531 - Amount of Levy Collected to Date - 6,075,466 5,964,554 5,919,574 5,363,805 4,375,907 4,828,253 4,728,776 4,627,687 3,991,031 Percentage of Levy Collected to Date 0.00% 98.95% 99.84% 99.89% 99.69% 99.64% 100.00% 99.66% 99.95% 99.78%


Note: The 2020 Levy is not collected until the next fiscal year.

VILLAGE OF WAUCONDAPROPERTY TAX LEVIES AND COLLECTIONS

LAST TEN LEVY YEARS

Page 89

Fiscal Year

General Obligation Bonds

Alternate Revenue

BondsInstallment Contracts

General Obligation

BondsInstallment Contracts

Alternate Revenue

Bonds IEPA LoanTotal Primary Government

Percentage of Personal

Income (1) Per Capita (1)2012 6,250,000$ 2,065,000$ 777,227$ -$ 748,116$ 6,106,161$ 4,229,650$ 20,176,154$ 4.96% 1,483 2013 5,940,000 1,965,000 714,988 9,500,000 589,155 5,930,000 4,245,470 28,884,613 7.10% 2,123 2014 5,600,000 1,860,000 597,156 9,100,000 424,393 5,725,000 3,993,843 27,300,392 5.83% 1,975 2015 5,500,000 1,745,000 471,149 8,735,000 272,355 5,465,000 3,737,338 25,925,842 5.67% 1,866 2016 4,995,000 1,625,000 382,629 8,360,000 113,009 5,220,000 3,475,832 24,171,470 5.06% 1,750 2017 4,495,000 1,505,000 10,550 7,975,000 45,317 4,970,000 7,163,439 26,164,306 5.36% 1,902 2018 3,965,000 1,375,000 4,035 20,843,425 16,153 4,715,000 2,937,314 33,855,927 6.81% 2,465 2019 3,400,000 1,240,000 - 23,144,174 - 4,455,000 2,660,038 34,899,212 6.92% 2,471 2020 2,800,000 1,105,000 - 23,107,118 - 4,185,000 2,377,237 33,574,355 6.23% 2,377 2021 2,160,000 965,000 - 22,133,048 - 3,910,000 2,088,776 31,256,824 5.46% 2,213

Data SourceDebt Information - Audited Financial Statements

(1) See the Demographic and Economic Statistics for personal income and population data.

VILLAGE OF WAUCONDA

SCHEDULE OF OUTSTANDING DEBT BY TYPELAST TEN FISCAL YEARS

Governmental Activities Business-Type Activities

Page 90

Fiscal YearGeneral

Obligation BondsLess Amount

Available Totals

Percentage of Total Taxable Assessed Value of Property

(1) Per Capita (2)2012 6,250,000$ -$ 6,250,000$ 1.53% 459 2013 5,940,000 - 5,940,000 1.63% 437 2014 14,700,000 - 14,700,000 4.33% 1,063 2015 14,235,000 - 14,235,000 4.34% 1,024 2016 13,355,000 - 13,355,000 3.92% 967 2017 12,470,000 - 12,470,000 3.42% 906 2018 24,808,425 - 24,808,425 6.49% 1,806 2019 26,544,174 - 26,544,174 6.86% 1,879 2020 25,907,118 279,331 25,627,787 6.63% 1,854 2021 24,293,048 241,643 24,051,405 5.92% 1,703

Data SourceDebt Information - Audited Financial Statements

(1) See Assessed Value and Actual Value of Taxable Property for property value data.(2) See Demographic and Economic Statistics for population data.

VILLAGE OF WAUCONDA

LAST TEN FISCAL YEARSSCHEDULE OF NET BONDED DEBT

Page 91

Governmental Unit Gross Debt

Percentage of Debt Applicable to Village

(1)Village's Share of

Debt

Village $ 3,125,000 100.000% $ 3,125,000

Overlapping Debt Lake County 176,037,657$ 1.450% 2,552,546$ Lake County Forest Preserve 231,031,267 1.450% 3,349,953 Wauconda Park District 909,130 100.000% 909,130 Wauconda Fire Protection District 646,153 31.499% 203,532 Fremont Public Library District - 5.959% - Wauconda Library District 1,745,000 47.886% 835,611 Fremont Grade School District #79 11,140,000 8.290% 923,506 Mundelein High School District #120 13,929,646 5.098% 710,133 Wauconda Unit School District #118 45,155,000 48.121% 21,729,038 College of Lake County District #532 49,157,605 1.524% 749,162

Total Overlapping Debt 529,751,458$ 31,962,611$

Total Direct and Overlapping Debt 533,656,458$ 35,867,611$


APRIL 30, 2021

VILLAGE OF WAUCONDA

COMPUTATION OF DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT

(1) Determined by ratio of assessed valuation of property subject to taxation in the Village to valuation ofproperty subject to taxation in overlapping unit.

Page 92

2021 2020 2019 2018 2017 2016 2015 2014 2013 2012Legal Debt Limit 35,035,539$ 34,085,155$ 33,362,180$ 32,978,757$ 31,409,190$ 29,359,131$ 28,296,949$ 29,274,903$ 31,442,765$ 35,166,055$ Total Net Debt Applicable to Limit 24,293,048 26,694,022 28,569,996 24,808,425 12,525,867 13,850,638 14,978,504 15,721,549 16,744,143 9,715,343

Legal Debt Margin 10,742,491$ 7,391,133$ 4,792,184$ 8,170,332$ 18,883,323$ 15,508,493$ 13,318,445$ 13,553,354$ 14,698,622$ 25,450,712$

Total Net Debt Applicable to the Limit as a Percentage of Debt Limit 69.34% 78.32% 85.64% 75.23% 39.88% 47.18% 52.93% 53.70% 53.25% 27.63%


VILLAGE OF WAUCONDA

SCHEDULE OF LEGAL DEBT MARGINSLAST TEN FISCAL YEARS

Page 93

Assessed Value 406,209,143$

Bonded Debt Limit - 8.625% of Assessed Value 35,035,539$

Amount of Debt Applicable to Limit 24,293,048

Legal Debt Margin 10,742,491$


VILLAGE OF WAUCONDA

SCHEDULE OF LEGAL DEBT MARGIN CALCULATIONFISCAL YEAR 2021

Page 94

Fiscal YearOperating

Revenues (1)Less: Operating

Expenses (2)Net Available Revenue (3) Principal Interest Coverage (4)

2012 4,091,078$ 3,982,446$ 108,632$ 206,455$ 88,358$ 0.37 2013 4,171,313 4,016,824 154,489 233,043 83,754 0.49 2014 4,676,648 2,960,242 1,716,406 251,627 77,876 5.21 2015 4,366,631 2,723,200 1,643,431 256,505 73,147 4.99 2016 4,401,180 3,160,701 1,240,479 261,506 68,123 3.76 2017 4,501,571 3,321,747 1,179,824 266,633 62,972 3.58 2018 4,718,851 5,119,159 (400,308) 356,181 91,119 (0.89) 2019 5,227,147 3,338,196 1,888,951 255,003 103,667 5.27 2020 5,541,683 4,103,491 1,438,192 416,684 156,187 2.84 2021 5,862,765 4,327,223 1,535,542 439,070 162,710 2.55


(1) As defined in applicable bond indentures and governing laws - includes charges for services in Water and Sewer Fund(2) Operating expenses exclusive of depreciation(3) Gross revenues minus expenses(4) Net revenue available for debt service divided by total debt requirements

VILLAGE OF WAUCONDA

PLEDGED REVENUE COVERAGELAST TEN FISCAL YEARS

Page 95

Year Population Personal IncomePer-Capita

Personal IncomeUnemployment

Rate2012 13,603 407,028,966 29,922 10.60%2013 13,603 407,028,966 29,922 11.20%2014 13,823 468,267,948 33,876 7.20%2015 13,896 457,581,384 32,929 6.90%2016 13,814 477,922,958 34,597 4.70%2017 13,758 488,422,758 35,501 4.30%2018 13,737 497,416,770 36,210 3.50%2019 14,125 504,206,000 35,696 4.50%2020 14,125 539,306,625 38,181 14.80%2021 14,125 572,175,500 40,508 6.40%

Data SourceIllinois Department of Employment Security (IDES)

VILLAGE OF WAUCONDA

DEMOGRAPHIC AND ECONOMIC STATISTICSLAST TEN FISCAL YEARS

Page 96

Employer Employees Rank

Percentage of Total Village Employment Employees Rank

Percentage of Total Village Employment

Lacosta Inc 1,300 1 14.8%Fidelitone, Inc 600 2 1.5% 250 3 3.48%Wauconda Community School Dist. 118 586 3 6.7% 600 1 8.35%Synergy Flavors 214 4 2.4% 79 8 1.10%Acres 208 5 2.4% 250 2 3.48%Berger Excavating 162 6 1.8%Jewel Osco 150 7 1.7% 150 6 2.09%Wauconda Health Care 149 8 1.7% 195 4 2.71%POS Remarketing Group 98 9 0.7%RTK Basis USA 78 10 0.7%Stack-On Products 177 5 2.46%Henris Studio, Inc. 93 7 1.29%Nelson Insulation 52 9 1.00%Logan Graphics 41 10 1.00%

Data SourceVillage Community Development Department RecordsReferenceUSAAmerican Fact Finder - in Labor ForceU.S. Census Bureau

VILLAGE OF WAUCONDAPRINCIPAL EMPLOYERS

CURRENT YEAR AND NINE YEARS AGO

2021 2012

Page 97

2021 2020 2019 2018 2017 2016 2015 2014 2013 2012General Government Administration 6 6 5 5 5 5 4 5 5 5 Building Department 3 2 1 3 2 1 1 1 2 2 Economic Development - - - - - 1 1 1 1 1

Public Safety Police 28 27 26 26 29 39 36 35 38 37

Public Works Highways and Streets 6 5 7 6 7 7 7 6 6 9

Waterworks and Sewerage 9 12 13 14 14 14 14 13 15 14

Total 52 52 52 54 57 67 63 61 67 68

Data SourceVarious Village Departments

VILLAGE OF WAUCONDA

NUMBER OF EMPLOYEES BY TYPELAST TEN FISCAL YEARS

Page 98

2021 2020 2019 2018 2017 2016 2015 2014 2013 2012General Government Business Licenses 126 117 119 142 145 126 155 122 125 133 Tobacco Licenses 12 14 15 15 18 15 16 18 14 19 Liquor Licenses 32 33 35 35 32 35 36 30 35 35

Public Safety Police Part I Crimes 73 119 85 100 80 171 125 157 169 340 Part II Crimes 417 354 329 436 588* 4,169 5,976 6,110 6,308 6,150 Parking Violations 531 583 735 1,337 802 617 1,005 948 810 978

Public Works Parkway Trees Planted - - - 26 71 - 18 - 32 23 Parkway Trees Trimmed 228 852 498 600 650 850 750 850 275 800 Street Resurfacing (Miles) - 1.25 - 2.19 - 3.00 - - 1.25 1.00

Waterworks and Sewerage Number of Metered Accounts 5,876 5,857 5,852 5,841 5,838 5,555 5,554 5,554 5,537 5,499 Number of Hydrants Flushed/Inspected 300 - - 300 243 300 300 300 279 317 New Connections 8 7 - 3 1 4 - 20 51 39 Water Main Breaks 10 7 1 9 7 2 3 15 7 11 Water Average Daily Consumption (In Gallons) 1,002,797 1,057,603 1,056,504 1,064,257 1,054,323 1,052,341 804,000 1,087,000 1,121,000 1,127,000 Average Daily Sewage Treatment (In Gallons) 1,400,000 1,758,953 1,771,000 1,678,372 1,532,616 1,549,000 1,485,000 1,211,000 1,437,000 1,458,000



VILLAGE OF WAUCONDA

OPERATING INDICATORS BY FUNCTIONLAST TEN FISCAL YEARS

Page 99

2021 2020 2019 2018 2017 2016 2015 2014 2013 2012Public Safety Police Stations 1 1 1 1 1 1 1 1 1 1 Fleet 22 22 22 22 20 17 15 19 19 19

Public Works Streets (Miles) 109 109 109 109 109 54 54 54 54 54 Streetlights* 180 180 180 180 157 741 741 741 741 741

Water and Sewer Water Mains (Miles) 77 77 77 77 76 71 71 70 70 70 Fire Hydrants Total 997 997 997 998 996 971 971 956 952 952 Fire Hydrants (Additions) - - - 2 25 - - 4 - N/A Sanitary Sewers (Miles) 60 60 60 60 60 60 60 60 60 60 Storm Sewers (Miles) 20 20 20 20 20 20 20 20 20 20



* ComEd owns additional streetlights; this is the Village's portion

VILLAGE OF WAUCONDA

CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAMLAST TEN FISCAL YEARS

Page 100

2021 2020 2019 2018 2017 2016 2015 2014 2013 2012

Metered Consumers 5,876 5,857 5,852 5,841 5,838 5,555 6,172 6,449 6,304 6,253

Unmetered Consumers 27 28 30 12 12 32 32 32 - 2

Number of Hydrants 997 997 997 998 971 971 971 956 952 952

Gallons of Water Pumped 366,021,000 399,509,000 412,580,000 410,762,000 436,500,000 399,552,000 417,554,000 311,149,000 429,999,000 431,077,000


VILLAGE OF WAUCONDA

WATER AND SEWER CONSUMER DATALAST TEN FISCAL YEARS

Page 101

October 12, 2021 To the Mayor and Board of Trustees Village of Wauconda Wauconda, Illinois We have audited the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of Village of Wauconda (Village) as of and for the year ended April 30, 2021, and have issued our report thereon dated October 12, 2021. Professional standards require that we advise you of the following matters relating to our audit. Our Responsibility in Relation to the Financial Statement Audit As communicated in our engagement letter dated July 19, 2021, our responsibility under generally accepted auditing standards and, if applicable, Government Auditing Standards and Uniform Guidance is to form and express an opinion about whether the financial statements that have been prepared by management with your oversight are presented fairly, in all material respects, in accordance with accounting principles generally accepted in the United States of America. Our audit of the financial statements does not relieve you or management of your respective responsibilities. Our responsibility, as prescribed by professional standards, is to plan and perform our audit to obtain reasonable, rather than absolute, assurance about whether the financial statements are free of material misstatement. An audit of financial statements includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control over financial reporting. Accordingly, as part of our audit, we considered the internal control of the Village solely for the purpose of determining our audit procedures and not to provide any assurance concerning such internal control. We are also responsible for communicating significant matters related to the audit that are, in our professional judgement, relevant to your responsibilities in overseeing the financial reporting process. However, we are not required to design procedures for the purpose of identifying other matters to communicate to you. Planned Scope and Timing of the Audit We conducted our audit consistent with the planned scope and timing we previously communicated to you. Qualitative Aspects of the Organization’s Significant Accounting Practices Significant Accounting Policies Management has the responsibility to select and use appropriate accounting policies. A summary of the significant accounting policies adopted by the Village are included in Note 1 to the financial statements. As described in Note 18 to the financial statements, during the year, the Village implemented GASB Statement No. 84, Fiduciary Activities. There have been no changes in

Existing significant accounting policies or their application during fiscal year 2021. No matters have come to our attention that would require us, under professional standards, to inform you about (1) the methods used to account for significant unusual transactions and (2) the effect of significant accounting policies in controversial or emerging areas for which there is a lack of authoritative guidance or consensus. Significant Accounting Estimates Accounting estimates are an integral part of the financial statements prepared by management and are based on management’s current judgement. Those judgements are normally based on knowledge and experience about past and current events and assumptions about future events. Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ markedly from management’s current judgement. We evaluated the key factors and assumptions used to develop the estimates and determined that they are reasonable in relation to the financial statements taken as a whole and in relation to the applicable opinion units. The most sensitive estimate(s) affecting the financial statements are: - Management’s estimate of depreciation expense is based on estimated useful lives of the

capital assets held by the Village.

- Management’s estimates regarding pension and OPEB liabilities were based on various actuarial assumptions regarding projected salaries, market trends, and expected mortality.

- Management’s estimates regarding allowances on Property Taxes were based on historical collection rates.

- Management’s estimates regarding IMET allowances were based on realizable values provided by the financial institution.

Financial Statement Disclosures Certain financial statement disclosures involve significant judgement and are particularly sensitive because of their significance to financial statement users. The most sensitive disclosures affecting the Village’s financial statements relate to: depreciation, pension and OPEB liabilities, and fair value estimates. The financial statement disclosures are neutral, consistent, and clear. Significant Difficulties Encountered during the Audit We encountered no significant difficulties in dealing with management relating to the performance of the audit. Uncorrected and Corrected Misstatements For purposes of this communication, professional standards require us to accumulate all known and likely misstatements identified during the audit, other than those that we believe are trivial, and communicate them to the appropriate level of management. Further, professional standards require us to also communicate the effect of uncorrected misstatements related to prior periods on the relevant classes of transactions, account balances or disclosures, and the financial statements as a whole and each applicable opinion unit. Management has corrected all identified misstatements, other than a potential misstatement related to the Accrued Police Pension Liability. Due to not using the current fiscal year census data, we believe there is a likely misstatement in-regards-to the final Accrued Police Pension Liability; however, while the amount is greater than trivial, we do not believe the amount to be material to the financial statements in either the quantitative or qualitative sense.

In addition, professional standards require us to communicate to you all material, corrected misstatements that were brought to the attention of management as a result of our audit procedures. The attached misstatements that we identified as a result of our audit procedures were brought to the attention of, and corrected by, management. Disagreements with Management For purposes of this letter, professional standards define a disagreement with management as a matter, whether or not resolved to our satisfaction, concerning a financial accounting, reporting, or audit matter, which could be significant to the Village’s financial statements or the auditor’s report. No such disagreements arose during the course of the audit. Representations Requested from Management We have requested certain written representations from management, which are included in the attached letter. Management Consultations with Other Accountants In some cases, management may decide to consult with other accountants about auditing and accounting matters, similar to obtaining a “second opinion” on certain situations. If a consultation involves application of an accounting principle to the Village’s financial statements or a determination of the type of auditor’s opinion that may be expressed on those statements, our professional standards require the consulting accountant to check with us to determine that the consultant has all the relevant facts. Management informed us that, and to our knowledge, there were no consultations with other accountants regarding auditing and accounting matters. Other Significant Matters, Findings, or Issues In the normal course of our professional association with the Village, we generally discuss a variety of matters, including the application of accounting principles and auditing standards, operating conditions affecting the Village, and operating plans and strategies that may affect the risks of material misstatement. However, none of the matters discussed resulted in a condition to our retention as the Village’s auditors. Other Matters We applied certain limited procedures to the required information which is required supplemental information (RSI) that supplement the basic financial statements (as listed on the table of contents in the audit report). Our procedures consisted of inquiries of management regarding the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We did not audit the RSI and do not express an opinion or provide any assurance on the RSI. We were engaged to report on supplemental information, listed in the table of contents of the audit report, which accompany the financial statements but are not RSI. With respect to the supplemental information, we made certain inquiries of management and evaluated the form, content, and methods of preparing the information to determine that the information complies with accounting principles generally accepted in the United States of America, the method of preparing it has not changed from the prior period, and the information is appropriate and complete in relation to our audit of the financial statements. We compared and reconciled the supplemental information to the underlying accounting records used to prepare the financial statements or to the financial statements themselves.

Restriction on Use This report is intended solely for the information and use of the Village Council and management of Village of Wauconda and is not intended to be, and should not be, used by anyone other than these specified parties. Very truly yours,

EDER, CASELLA & CO. Certified Public Accountants

10/6/202110:18 AM

Client: WAUCONDAVIL - Village of Wauconda

Engagement: Village of Wauconda

Period Ending: 4/30/2021

Trial Balance: 3020.99 - GASB 34 Fund

Workpaper: 3520.99 - GASB 34 Fund AJEs

Account Description W/P Ref Debit Credit

150.1 IMRF Pension - Deferred Outflows - Cont. after Measurement Date 1,860.00

230 IMRF Pension - Net Pension Liability 786,224.00

150 IMRF Pension - Deferred Outflows - Actuarial Report 203,460.00

250 IMRF Pension - Deferred Inflows 408,693.00

540 IMRF Pension - Expense 41,021.00

541 IMRF Pension - Employer Contributions 134,910.00

Total 788,084.00 788,084.00

531 Amortization - Loss on Refunding 38,575.00

160 Loss on Refunding 38,575.00

Total 38,575.00 38,575.00

105 CIP 99,318.00

130 Machinery & Equipment 367,465.00

131 Machinery & Equipment - Acc. Depr. 24,878.00

140 Infrastructure 86,640.00

600 Proceeds on Sale of Fixed Assets 5,310.00

601 Gain/Loss on Disposal of Fixed Assets 3,880.00

105 CIP 86,640.00

130 Machinery & Equipment 39,379.00

500 Capital Outlay 461,472.00

Total 587,491.00 587,491.00

510 Depreciation 41,231.00

511 Depreciation - Public Safety 195,209.00

512 Depreciation - Public Works 821,377.00

111 Land Improvements - Acc. Depr. 17,453.00

121 Building - Acc. Depr. 64,364.00

131 Machinery & Equipment - Acc. Depr. 258,122.00

141 Infrastructure - Acc. Depr. 709,634.00

512 Depreciation - Public Works 8,244.00

Total 1,057,817.00 1,057,817.00

220 Compensated Absences 44,478.00

520 Salaries - General Gov 5,005.00

521 Salaries - Public Safety 37,220.00

522 Salaries - Public Works 2,253.00

Total 44,478.00 44,478.00

232 IMRF OPEB - Total OPEB Liability 17,861.00

552 IMRF OPEB - Expense 724.00

561 IMRF OPEB - Benefit Payments 18,585.00

Adjusting Journal Entries

Adjusting Journal Entries JE # 1Record GASB 75 entry for governmental activities OPEB

Adjusting Journal Entries JE # 2To record long term debt loss refunding

Adjusting Journal Entries JE # 3Record CY Additions/Disposals

Adjusting Journal Entries JE # 4Record CY Depreciation

Adjusting Journal Entries JE # 5Adjust compensated absences

Adjusting Journal Entries JE # 6Record GASB 75 entry for governmental activities OPEB

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10/6/202110:18 AM




Trial Balance: 3020.99 - GASB 34 Fund

Workpaper: 3520.99 - GASB 34 Fund AJEs


Total 18,585.00 18,585.00

562 Police OPEB - Expense 31,093.00

233 Police OPEB - Total OPEB Liability 118.00

563 Police OPEB - Benefit Payments 30,975.00

Total 31,093.00 31,093.00

231 Police Pension - Net Pension Liability 3,142,481.00

550 Police Pension - Expense 592,436.00

151 Police Pension - Deferred Outflows - Actuarial Report 454,758.00

251 Police Pension - Deferred Inflows 2,233,035.00

551 Police Pension - Employer Contributions 1,047,124.00

Total 3,734,917.00 3,734,917.00

240 Accrued Interest 8,607.00

525 Interest Expense 8,607.00

Total 8,607.00 8,607.00

210 2015 GO Refunding Bonds 640,000.00

211 2014A GO Refunding Alernative Revenue Bonds 140,000.00

530 Debt Service prinicpal 780,000.00

Total 780,000.00 780,000.00

165 Deferred Revenue 43,456.00

605 Revenue 43,456.00

Total 43,456.00 43,456.00

Total Adjusting Journal Entries 7,133,103.00 7,133,103.00

Total All Journal Entries 7,133,103.00 7,133,103.00

Client Signature

Date

Adjusting Journal Entries JE # 11Record Deferral Adjustment

Adjusting Journal Entries JE # 7Record GASB 75 entry fro police pension OPEB

Adjusting Journal Entries JE # 8Record GASB 68 for police pension

Adjusting Journal Entries JE # 9Record Accrued Interest Expense

Adjusting Journal Entries JE # 10To record Long Term Debt Activity

2 of 2

10/6/202110:14 AM




Trial Balance: 3020.10 - General Fund

Workpaper: 3520.10 - General AJEs


10-00-1250 ESP 11,047.00

10-00-1381 Cobra Payments 9,855.00

10-10-4310 Health Insurance 586.00




10-12-4310 Health Insurance 4,647.00




10-16-4110 Salaries - Elected & Commiss 27.00




10-00-1120 Section 125/FSA 7,393.00

10-00-1380 Direct Pay Insurance 4,798.00













Total 33,093.00 33,093.00

10-12-9934 Transfer to General Capital 62,131.00

10-12-6370 Drug Enforcement - RESTRICTED 62,131.00

Total 62,131.00 62,131.00

10-10-5110 Legal Services 1,738.00

10-13-5110 Legal Services 1,738.00

Total 1,738.00 1,738.00

Total Entries from Client 96,962.00 96,962.00

Total All Journal Entries 96,962.00 96,962.00

Client Signature

Date

Entries from Client JE # 2

Adjust Drug Enforcement Transfer for report purposes provided by Tom


Reclass legal expense to intended budget account provided by Tom

Entries from Client


Record Payroll Liability Adjustment Provided by Tom

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10/6/202110:16 AM




Trial Balance: 3020.55 - Motor Fuel Tax

Workpaper: 3520.55 - MFT AJEs


55-55-1772 Unearned Revenue 465,447.00

55-55-3920 Grants - REBUILD Illinois 465,447.00

Total 465,447.00 465,447.00

Total Adjusting Journal Entries 465,447.00 465,447.00

Total All Journal Entries 465,447.00 465,447.00

Client Signature

Date

Adjusting Journal Entries

Adjusting Journal Entries JE # 1

Recognize REBUILD Illinois Income

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10/6/202110:15 AM




Trial Balance: 3020.20 - Waterworks & Wtr Rec

Workpaper: 3520.20 - Waterworks AJEs


20-00-0720 Building Improvements 304,601.00

20-00-0740 Machinery & Equipment 26,366.00

20-00-0780 Water System 3,945,301.00

20-00-6990 Depreciation 1,789,575.00

20-00-0711 Land Improvement (AD) 5,488.00

20-00-0730 Building Improvements (AD) 690,584.00

20-00-0750 Equipment (AD) 179,550.00

20-00-0790 Water System (AD) 913,953.00

20-00-0880 Construction in Prog (Water) 3,917,525.00

20-00-0900 Construction in Prog (Sewer) 274,234.00

20-17-8600 Fixed Asset-R/R Water 21,433.00

20-18-8600 Fixed Asset-R/R WWTP 4,934.00

20-28-8502 Capital Project - LMW Ph. 3B 27,776.00

20-71-8500 Water/Sewer Capital Projects 30,366.00

20-00-0820 Land Improvements

20-69-8400 PW Fleet Replacements

Total 6,065,843.00 6,065,843.00

20-00-1800 Retainage Payable 14,132.00

20-71-8500 Water/Sewer Capital Projects 14,132.00

Total 14,132.00 14,132.00

20-00-1250 ESP 1,977.00




20-00-1380 Direct Pay Insurance 2,461.00




Total 4,438.00 4,438.00

20-00-0581 Deferred Outflows - IMRF 1,861.00

20-00-1760 Net Pension Liability 786,223.00

20-00-0580 Deferred Outflow 203,459.00

20-00-1750 Deferred Inflow 408,694.00

20-00-4003 IMRF - Contributions 134,909.00

20-20-3999 IMRF Revenue 41,022.00

Total 788,084.00 788,084.00

Client Adj Journal Entries

Client Adj Journal Entries JE # 1CLIENT AJE: Record CY W/S Capital Asset Activity

Client Adj Journal Entries JE # 2CLIENT AJE: Reverse PY Retainage Payable

CLIENT AJE: Record Payroll Liability Adjustment Provided by TomClient Adj Journal Entries JE # 3

Client Adj Journal Entries JE # 4Record IMRF Pension GASB 68 Entry

1 of 2

10/6/202110:15 AM




Trial Balance: 3020.20 - Waterworks & Wtr Rec

Workpaper: 3520.20 - Waterworks AJEs


20-00-6970 Compensated Absences 14,283.00


Total 14,283.00 14,283.00

20-00-1761 Net OPEB Liability 17,862.00

20-00-4440 Pension Expense 724.00

20-00-4001 OPEB - Benefit Payments 18,586.00

Total 18,586.00 18,586.00

20-00-1822 IMRF OPEB Fund Balance 45,346.00

20-00-1820 Fund Balance 45,346.00

Total 45,346.00 45,346.00



Total 1,250.00 1,250.00

Total Client Adj Journal Entries 6,951,962.00 6,951,962.00

Total All Journal Entries 6,951,962.00 6,951,962.00

Client Signature

Date

Client Adj Journal Entries JE # 5CLIENT AJE: FY 21 Compensated Absences Accrual

Client Adj Journal Entries JE # 6Record OPEB

Client Adj Journal Entries JE # 7OPEB - Adjust Fund Balance

Client Adj Journal Entries JE # 8CLIENT AJE: FY 21 Compensated Absences Accrual Additional Adjustment

2 of 2

Eder, Casella & Co. 5400 West Elm Street Suite 203 McHenry, Illinois 60050

This representation letter is provided in connection with your audit of the financial statements of Village of Wauconda (Village), which comprise the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information as of April 30, 2021, and the related statements of operations and, where applicable, cash flows for the year then ended, and the related notes to the financial statements, for the purpose of expressing an opinion on whether the financial statements of the various opinion units are presented fairly, in all material respects, in accordance with accounting principles generally accepted for governments in the United States of America (U.S. GAAP).

Certain representations in this letter are described as being limited to matters that are material. Items are considered material, regardless of size, if they involve an omission or misstatement of accounting information that, in the light of surrounding circumstances, makes it probable that the judgment of a reasonable person relying on the information would be changed or influenced by the omission or misstatement. An omission or misstatement that is monetarily small in amount could be considered material as a result of qualitative factors.

We confirm that, to the best of our knowledge and belief, having made such inquiries as we considered necessary for the purpose of appropriately informing ourselves as of the date of the auditor’s report, the following representations made to you during your audit:

Financial Statements

1. We have fulfilled our responsibilities, as set out in the terms of the audit engagement letterdated July 19, 2021, for the preparation and fair presentation of the financial statements of thevarious opinion units referred to above in accordance with U.S. GAAP and for preparation ofthe supplementary information in accordance with the applicable criteria.

2. We acknowledge our responsibility for the design, implementation, and maintenance ofinternal control relevant to the preparation and fair presentation of financial statements thatare free from material misstatement, whether due to fraud or error.

3. We acknowledge our responsibility for the design, implementation, and maintenance ofinternal control to prevent and detect fraud.

4. We acknowledge our responsibility for compliance with the laws, regulations, and provisionsof contracts and grant agreements.

5. We have reviewed, approved, and taken responsibility for the financial statements and relatednotes.

6. Significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.

7. Related party relationships and transactions have been appropriately accounted for and

disclosed in accordance with the requirements of U.S. GAAP. 8. All events subsequent to the date of the financial statements and for which U.S. GAAP

requires adjustment or disclosure have been adjusted or disclosed.

9. We are in agreement with the adjusting journal entries you have proposed, if any, and they will be posted.

10. The effects of uncorrected misstatements related to the Accrued Police Pension Liability are

believed to be immaterial, both quantitatively and qualitatively, to the appliable opinion units and to the financial statements as a whole.

11. The effects of all known actual or possible litigation, claims, and assessments have been

accounted for and disclosed in accordance with U.S. GAAP. 12. All funds and activities are properly classified.

13. All funds that meet the quantitative criteria in GASB Statement No. 34, Basic Financial

Statements–and Management’s Discussion and Analysis–for State and Local Governments, GASB Statement No. 37, Basic Financial Statements-and Management’s Discussion and Analysis-for State and Local Governments: Omnibus as amended, and GASB Statement No. 65, Items Previously Reported as Assets and Liabilities, for presentation as major are identified and presented as such and all other funds that are presented as major are considered important to financial statement users.

14. All components of net position, nonspendable fund balance, and restricted, committed,

assigned, and unassigned fund balance are properly classified and, if applicable, approved.

15. Our policy regarding whether to first apply restricted or unrestricted resources when an expense is incurred for purposes for which both restricted and unrestricted net position are available is appropriately disclosed and net position/fund balance is properly recognized under the policy.

16. Our policy regarding whether to first apply restricted, committed, assigned, or unassigned

resources when an expense is incurred for purposes for which more than one resource of fund balance is available is appropriately disclosed and fund balance is properly recognized under the policy.

17. All revenues within the Statement of Activities have been properly classified as program revenues, general revenues, contributions to term or permanent endowments, or contributions to permanent fund principal.

18. All expenses have been properly classified in or allocated to functions and programs in the

Statement of Activities, and allocations, if any, have been made on a reasonable basis.

19. All interfund and intra-entity transactions and balances have been properly classified and reported.

20. Deposit and investment risks have been properly and fully disclosed.

21. Capital assets, including infrastructure assets, are properly capitalized, reported, and if applicable, depreciated.

22. With regard to investments and other instruments reported at fair value:

a. The underlying assumptions are reasonable and they appropriately reflect management’s

intent and ability to carry out its stated courses of action.

b. The measurement methods and related assumptions used in determining fair value are appropriate in the circumstances and have been consistently applied.

c. The disclosures related to fair values are complete, adequate, and in accordance with U.S.

GAAP.

d. There are no subsequent events that require adjustments to the fair value measurements and disclosures included in the financial statements.

23. With respect to preparation of financial statements/ACFR, preparation of Comptroller’s annual

financial report, and payroll processing services, we have performed the following: a. Made all management decisions and performed all management functions;

b. Assigned a competent individual to oversee the services;

c. Evaluated the adequacy of the services performed;

d. Evaluated and accepted responsibility for the result of the service performed; and

e. Established and maintained internal controls, including monitoring ongoing activities.

Information Provided 24. We have provided you with:

a. Access to all information, of which we are aware, that is relevant to the preparation and

fair presentation of the financial statements of the various opinion units referred to above, such as records, documentation, and other matters.

b. Additional information that you have requested from us for the purpose of the audit.

c. Unrestricted access to persons within the Village from whom you determined it necessary to obtain audit evidence.

d. Minutes of the meetings of the Board of Trustees or summaries of actions of recent

meetings as listed below:

i. October 20, 2020 ii. November 3, 2020 iii. November 17, 2020

iv. December 1, 2020 v. December 15, 2020 vi. January 5, 2021 vii. January 19, 2021 viii. February 2, 2021 ix. February 16, 2021 x. March 2, 2021 xi. March 16, 2021 xii. April 6, 2021 xiii. April 20, 2021 xiv. May 4, 2021 xv. May 18, 2021 xvi. June 1, 2021 xvii. June 14, 2021 xviii. July 6, 2021 xix. July 19, 2021 xx. August 2, 2021 xxi. August 24, 2021 – Special Meeting

25. All transactions have been recorded in the accounting records and are reflected in the financial

statements.

26. We have disclosed to you the results of our assessment of the risk that the financial statements may be materially misstated as a result of fraud.

27. We have no knowledge of any fraud or suspected fraud that affects the Village and involves:

a. Management,

b. Employees who have significant roles in internal control, or

c. Others where the fraud could have a material effect on the financial statements. 28. We have no knowledge of any allegations of fraud or suspected fraud affecting the s financial

statements communicated by employees, former employees, vendors, regulators, or others.

29. We have disclosed to you all known actual or possible litigation, claims, and assessments whose effects should be considered when preparing the financial statements.

30. We have disclosed to you the identity of the Village’s related parties and all the related party relationships and transactions of which we are aware.

31. There have been no communications from regulatory agencies concerning noncompliance with or deficiencies in accounting, internal control, or financial reporting practices.

32. The Village has no plans or intentions that may materially affect the carrying value or

classification of assets, deferred outflows of resources, liabilities, deferred inflows of resources, and fund balance or net position.

33. We have disclosed to you all guarantees, whether written or oral, under which the Village is

contingently liable.

34. We have disclosed to you all significant estimates and material concentrations known to management that are required to be disclosed in accordance with GASB Statement No. 62, Codification of Accounting and Financial Reporting Guidance Contained in Pre-November 30, 1989 FASB and AICPA Pronouncements. Significant estimates are estimates at the Statement of Net Position date that could change materially within the next year. Concentrations refer to volumes of business, revenues, available sources of supply, or markets or geographic areas for which events could occur that would significantly disrupt normal finances within the next year.

35. We have identified and disclosed to you the laws, regulations, and provisions of contracts and

grant agreements that could have a direct and material effect on financial statement amounts, including legal and contractual provisions for reporting specific activities in separate funds.

36. There are no:

a. Violations or possible violations of laws or regulations, or provisions of contracts or grant

agreements, whose effects should be considered for disclosure in the financial statements or as a basis for recording a loss contingency, including applicable budget laws and regulations.

b. Unasserted claims or assessments that our lawyer has advised are probable of assertion and must be disclosed in accordance with GASB 62.

c. Other liabilities or gain or loss contingencies that are required to be accrued or disclosed by GASB 62.

d. Continuing disclosure consent decree agreements or filings with the Securities and Exchange Commission and we have filed updates on a timely basis in accordance with the agreements (Rule 240, 15c2-12).

37. The Village has satisfactory title to all owned assets, and there are no liens or encumbrances

on such assets nor has any asset or future revenue been pledged as collateral, except as disclosed to you.

38. We have complied with all aspects of grant agreements and other contractual agreements that would have a material effect on the financial statements in the event of noncompliance.

39. We acknowledge our responsibility for the required supplementary information (RSI). All RSI

is measured and presented within the prescribed guidelines and the methods of measurement and presentation have not changed from those used in the prior year. We have disclosed to you any significant assumptions and interpretations underlying the measurement and presentation of the RSI.

40. We have identified and disclosed to you all instances that have occurred or are likely to have

occurred, of abuse that could be quantitatively or qualitatively material to the financial statements or other financial data significant to the audit objectives.

41. Investments, derivative instruments, and land and other real estate held by endowments are

properly valued.

42. Provisions for uncollectible receivables have been properly identified and recorded.

43. We are not aware of any current or anticipated losses in excess of our insurance coverage for which we would be financially liable.

44. With respect to the supplemental financial information, we acknowledge our responsibility for

presenting the supplemental financial information in accordance with accounting principles generally accepted in the United States of America, and we believe the supplemental financial information, including its form and content, is fairly presented in accordance with accounting principles generally accepted in the United States of America. The methods of measurement and presentation of the supplemental financial information have not changed from those used in the prior period, and we have disclosed to you any significant assumptions or interpretations underlying the measurement and presentation of the supplemental information.

45. We agree with the findings of specialists in evaluating the Village’s accrued pension liability

and OPEB liability and have adequately considered the qualifications of the specialists in determining the amounts and disclosures used in the financial statements and underlying accounting records. We did not give or cause any instructions to be given to specialists with respect to the values or amounts derived in an attempt to bias their work, and we are not otherwise aware of any matters that have had an impact on the independence or objectivity of the specialists.

46. We believe that the actuarial assumptions and methods used to measure pension and OPEB

liabilities and costs for financial accounting purposes are appropriate in the circumstances. Signed: ______________________________________ Title: ________________________________________ Date: ____________________

Finance Director/Treasurer

10/12/2021

INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN

AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS

To the Mayor and Board of Trustees Village of Wauconda Wauconda, Illinois We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of

Village of Wauconda as of and for the year ended April 30, 2021, and the related notes to the financial statements, which collectively comprise Village of Wauconda’s basic financial statements, and have issued our report thereon dated October 12, 2021. Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, we considered Village of Wauconda’s internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of Village of Wauconda’s internal control. Accordingly, we do not express an opinion on the effectiveness of Village of Wauconda’s internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of the Village’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.

Compliance and Other Matters As part of obtaining reasonable assurance about whether Village of Wauconda’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Village’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Village’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

EDER, CASELLA & CO. Certified Public Accountants McHenry, Illinois October 12, 2021


Agenda Supplement

Page 1 of 1

AGENDA SUPPLEMENT

Date: October 14, 2021

TO: Jeff A. Sode, Mayor


CC: David Wermes, Acting Village Administrator

FROM: Gregory J. Anderson, AICP, MBA GJA

ITEM: Municipal Ordinance – Chapter 117. Contractors Registration

Background: The Contractor’s Registration program, to be implemented on January 1st 2022, was designed

in conjunction with the new building codes to protect the health, safety and welfare of the citizens within

the Village of Wauconda.

The registration program requires all contractors performing work that involves a building permit to obtain

a registration before the permit will be issued. Further it requires that the contractor provide a certificate of

insurance based upon the prescribed types and limits.

Request: To approve the attached Ordinance creating Chapter 117 of the Wauconda Municipal Code

pertaining to Contractors and subcontractor registration.

Staff Recommendation: Adopt the attached Ordinance as drafted with an effective date of January 1, 2022.

TITLE XI. - BUSINESS REGULATIONS CHAPTER 117 – CONTRACTOR REGISTRATION

Wauconda, Illinois – Code of Ordinances Origination Date: 8/4/2021 Page 1 of 4 Latest Printing: 10/14/2021

TITLE XI. CHAPTER 117 - CONTRACTOR REGISTRATION

117.10 - Intent.

It is the intent of this chapter to provide an effective means for the Village to regulate contractors who operate within the Village, to ensure that they are insured, to monitor basic compliance with federal, state and local laws regulating their operation and to require a certain standard of conduct for the protection of property owners. This chapter is not intended as a recommendation or to guarantee workmanship of the contractors who are licensed by the State of Illinois or registered with the Village of Wauconda.

117.20 - Contractor Defined.

A. "Contractor" means any person, firm, company, corporation or other entity that, for a consideration, undertakes or offers to undertake or purports to have the capacity to undertake, or submits a bid to, or does himself or by or through employees or agents, construct, alter, repair, add to, subtract from, improve, move, wreck or demolish the whole or any part of a building or structure, or any of the appurtenances thereto, sidewalk, street or pavement or excavate for which a building or site development permit is required by Village ordinance. A person is a contractor for purposes of this chapter whether that person was hired by the owner or agent of the owner of the property on which the work was performed or by another contractor.

B. An owner of property performing work on such property that is occupied by the owner shall not be considered a contractor for purposes of this chapter; however, any person hired by such owner to perform work on such property shall be considered a contractor.

117.30 Contractor Certificate of Registration.

A. All contractors, including those for which a state license is required (such as roofers and plumbers), who perform any work within the municipal limits of the Village of Wauconda must be registered with the Village of Wauconda pursuant to the provisions of this chapter; and it shall be unlawful for a contractor who is required to obtain a contractors certificate of registration to perform any work in the Village without a current contractors certificate of registration.

B. No contractor certificate of registration issued pursuant to this chapter is transferrable.

117.40 Regulations Applicable to Certificate of Registration.

A. Contractor registration applications shall be submitted to the Community Development Department and shall include the following:

1. Name of person, joint venture, partnership, corporation or other legal entity making the application (hereinafter the "applicant");

2. Address of the applicant, telephone number of the applicant and name and title of the person responsible for the daily operation of the business;

3. Indicate the type of work to be performed and the trade or trades in which the applicant performs work;

4. By signing the application, the applicant agrees to comply with all the pertinent Village Ordinances, codes and regulations including the building code applicable to the business that the applicant is engaged in, and that the applicant agrees to comply with the same;

5. Proof of insurance meeting the criteria set forth below in section 117.70;

6. Payment of the registration fee in the amount of seventy-five dollars ($75.00) for one-year, one hundred twenty-five dollars ($125.00) for two-year; and, one hundred fifty dollars ($150.00) for three-years; except that state-licensed plumbers, roofers or sprinkler contractors are exempt from a local registration fee pursuant to the Illinois law. Each fee is valid for the time allotted from January 1st through December



31st. Fees may be prorated during the course of the year by months remaining, no partial months, for example, April application is 12 – 3 = 9* monthly fee=prorated fee; and

7. The provision of any other information or documentation required by the Community Development Director at his/her discretion.

B. No applicant who is in violation of any federal, state or local law, regulation or ordinance, and no applicant that is indebted to the Village for any fee, fine or other amount, shall be eligible to receive a contractor registration unless and until the violation is remedied and/or the indebtedness is paid.

C. No contractor whose registration was revoked shall be eligible for issuance of a new registration for a minimum of one year, depending on the nature of the revocation offense.

D. The Community Development Department shall accept the registration of all applicants who submit applications that meet all of the application requirements and who are eligible to be registered.

E. The certificate of registration shall be valid for a period of not less than one-year to a maximum of three-years from the date of issuance.

117.50 State Licensed Contractors and Wauconda Registration.

All state licensed contractors shall provide and maintain a copy of a current State-issued license with the Community Development Department. Roofing, plumbing and sprinkler contractors need to submit a copy of their State of Illinois License. The application fee is not required for roofing, plumbing or sprinkler contractors, however registration must be made and remain current.

117.60 Contractor Insurance.

A. During the term of the registration, contractors shall maintain sufficient insurance to protect the interests of the property owner and the community during the performance of any work undertaken in the Village. All insurance must be placed with financially responsible companies that are authorized under the insurance laws of Illinois and to do business in the State of Illinois. Minimum coverage shall include the following types of insurance in the following amounts:

1. Worker's compensation and employee's liability: Not less than one hundred thousand dollars ($100,000.00) per person;

2. Comprehensive public liability: Not less than two hundred fifty thousand dollars ($250,000.00) for injuries, including accidental death to any person, and subject to the same limits for each person, in an amount of any one accident; and

3. Property damage: Not less than one hundred thousand dollars ($100,000.00) for damage to property in any one accident with an aggregate limit of not less than three hundred thousand dollars ($300,000.00).

B. Insurance coverage shall be verified by submittal of a valid certificate from the contractor's insurance agent listing the Village of Wauconda as certificate holder and requiring the Village to receive notice of cancellation or lapse of insurance within thirty (30) days of such cancellation or lapse.

C. Certificate In Good Standing from the Illinois Secretary of State is required for Corporations & LLC’s. It is not necessary to purchase the actual certificate. A screenshot of the business record from the ILSCS.gov website is acceptable.

117.70 Certificate of Registration Grounds for Revocation.

The commission or omission of any of the following acts shall, in addition to the violation of any applicable section of this chapter, Village ordinance or state law, constitute grounds for the suspension or revocation of a contractor's registration:

A. Performance of work without providing the permit holder a sworn contractor's statement.

B. Acceptance of final payment without issuance of waivers of lien to the permit holder.

C. Bankruptcy, transfer for the benefit of creditors or similar occurrence.



D. Abandonment of the work after payment is received and before the work is completed.

E. Allowing insurance policies listed in registration application to lapse or be cancelled without replacement of equal or greater coverage by other policies.

F. Performance of any work in the Village for which a building permit(s) is required without first having obtained said building permit(s) or continuing to work after the building permit(s) has/have expired.

G. Performance of any work without insurance in place meeting the minimum requirements of this chapter.

H. Allowing and suffering any unlicensed contractor to perform work under your registration.

Note: The Village shall not be liable for any financial loss incurred by any permit holder whose building permit(s) has/have been revoked or suspended in accordance with the terms of this chapter.

117.80 Revocation of Contractors Certificate of Registration.

A. If the Community Development Director believes that grounds listed in Section 117.70 exist for revocation, he / she shall give notice in writing to the contractor stating the nature and details of the violation and stating that the contractor has ten (10) days from the date that notice is served to correct the violations or to show cause to the Community Development Director in writing or in person why there is no violation. If, after notice has been served and the contractor has had the opportunity to correct the violation or show cause why no violation occurred, the Community Development Director determines that a violation exists, the Community Development Director may recommend revocation of the contractor's certificate of registration to the Village Board of Trustees.

B. Notice of violation and pending revocation shall be given and considered served as follows:

1. By certified mail, return receipt requested, on the date that the receipt is signed or rejected;

2. By personal delivery, on the date on which the notice is delivered; or

3. By posting a copy of the notice in a conspicuous place on the site on which the contractor is working, on the date on which the notice is posted.

C. If a contractor opts to show cause why there is not a violation, the Community Development Director shall make a determination and recommendation in writing and serve it on the contractor and the Village Board of Trustees with a statement indicating the right to make an additional submittal of information and position statement to the board in writing within ten (10) business days.

D. The Village Board of Trustees shall consider the recommendation of the Community Development Director and any written submittal by the contractor and determine whether a violation exists, whether the certificate of registration should be revoked and the duration of the revocation period at a regular board meeting. The board's determination shall be final.

E. Insofar as they may be applicable to the administration of this chapter, the Director of Community Development is authorized and directed to promulgate rules and regulations reasonably required to administer the registration program hereby created.

117.90 Enforcement.

A. Any contractor performing work in the Village in violation of the provisions of this chapter shall be subject to the minimum and maximum fines prescribed in this code.

B. Each day that a violation exists or continues shall be considered a separate violation.

C. In addition to any fines imposed, the Village may seek to enjoin the contractor from present or future violation of this chapter. This remedy shall not be exclusive to other legal remedies available to the Village.

DEPARTMENT OF COMMUNITY DEVELOPMENT 109 W BANGS ST. WAUCONDA IL 60084 (847) 526-9609

VILLAGE OF WAUCONDA CONTRACTOR’S REGISTRATION PROGRAM CERTIFIES THAT

SUPPLY COMPANY INC

HAS SUCCESSFULLY MET THE CONTRACTOR’S REGISTRATION REQUIREMENTS PER

VILLAGE ORDINANCE 2021-O-XX FOR CONTRACTOR’S REGISTRATION.

THIS CERTIFICATE OF REGISTRATION AFFIRMS THE CONTRACTOR MENTIONED ABOVE IS

PERMITTED TO OPERATE WITHIN THE VILLAGE LIMITS PER CURRENT REGULATIONS.

GIVEN THIS 5TH DAY OF AUGUST 2021 Gregory J Anderson

CERTIFICATE NO. 2021-000 AUTHORIZED BY GREGORY J ANDERSON

VALID FOR 3-YEARS | EXPIRES: AUG. 5TH 2024 DIRECTOR OF COMMUNITY DEVELOPMENT


{20/74.39/CODEAMEN/00044179.DOCX}


2021-O-____

AN ORDINANCE AMENDING TITLE IX OF THE WAUCONDA VILLAGE CODE By ADDING A NEW CHAPTER 117 PROVIDING FOR THE REGISTRATION OF

CERTAIN CONTRACTORS PERFORMING WORK WITHIN THE VILLAGE OF WAUCONDA

WHEREAS, in order to protect the health, safety and welfare of Village property owners it is necessary and prudent to establish a registry of contractors (as defined herein) performing certain work within the Village; and WHEREAS, when established, such registry will better assure that contractors will possess the necessary and lawful qualifications to perform the element or elements of the work for which the contractors were hired. NOW THEREFORE BE IT ORDAINED by the President and Board of Trustees of the Village of Wauconda, Lake County, Illinois as follows: SECTION I: That Title XI of the Wauconda Village Code is hereby amended by adding thereto a new Chapter 117 providing for the registration of certain contractors performing work within the Village as follows: TITLE XI. CHAPTER 117 - CONTRACTOR REGISTRATION 117.10 - Intent. It is the intent of this chapter to provide an effective means for the Village to regulate contractors who operate within the Village, to ensure that they are insured, to monitor basic compliance with federal, state and local laws regulating their operation and to require a certain standard of conduct for the protection of property owners. This chapter is not intended as a recommendation or to guarantee workmanship of the contractors who are licensed by the State of Illinois or registered with the Village of Wauconda. 117.20- Contractor Defined.



{20/74.39/CODEAMEN/00044179.DOCX}


B. An owner of property performing work on such property that is occupied by theowner

shall not be considered a contractor for purposes of this chapter; however, any person hired by such owner to perform work on such property shall be considered a contractor.






1. Name of person, joint venture, partnership, corporation or other legal entity

making the application (hereinafter the "applicant");


3. Indicate the type of work to be performed and the trade or trades in which the

applicant performs work;



6. Payment of the registration fee in the amount of seventy-five dollars ($75.00) for

one-year, one hundred twenty-five dollars ($125.00) for two-year; and, one hundred fifty dollars ($150.00) for three-years; except that state-licensed plumbers, roofers or sprinkler contractors are exempt from a local registration fee pursuant to the Illinois law. Each fee is valid for the time allotted from January 1st through December 31st. Fees may be prorated during the course of the year by months remaining, no partial months, for example, April application is 12 – 3 = 9* monthly fee=prorated fee; and


{20/74.39/CODEAMEN/00044179.DOCX}



B. No applicant who is in violation of any federal, state or local law, regulation or

ordinance, and no applicant that is indebted to the Village for any fee, fine or other amount, shall be eligible to receive a contractor registration unless and until the violation is remedied and/or the indebtedness is paid.

C. No contractor whose registration was revoked shall be eligible for issuance of a new

registration for a minimum of one year, depending on the nature of the revocation offense.

D. The Community Development Department shall accept the registration of all

applicants who submit applications that meet all of the application requirements and who are eligible to be registered.

E. The certificate of registration shall be valid for a period of not less than one-year to a

maximum of three-years from the date of issuance. 117.50 State Licensed Contractors and Wauconda Registration. All state licensed contractors shall provide and maintain a copy of a current State-issued license with the Community Development Department. Roofing, plumbing and sprinkler contractors need to submit a copy of their State of Illinois License. The application fee is not required for roofing, plumbing or sprinkler contractors, however registration must be made and remain current. 117.60 Contractor Insurance.


1. Worker's compensation and employee's liability: Not less than one hundred

thousand dollars ($100,000.00) per person;


3. Property damage: Not less than one hundred thousand dollars ($100,000.00) for

damage to property in any one accident with an aggregate limit of not less than three hundred thousand dollars ($300,000.00).


{20/74.39/CODEAMEN/00044179.DOCX}



C. Certificate In Good Standing from the Illinois Secretary of State is required for

Corporations & LLC’s. It is not necessary to purchase the actual certificate. A screenshot of the business record from the ILSCS.gov website is acceptable.

117.70 Certificate of Registration Grounds for Revocation. The commission or omission of any of the following acts shall, in addition to the violation of any applicable section of this chapter, Village ordinance or state law, constitute grounds for the suspension or revocation of a contractor's registration:






F. Performance of any work in the Village for which a building permit(s) is required without

first having obtained said building permit(s) or continuing to work after the building permit(s) has/have expired.

G. Performance of any work without insurance in place meeting the minimum requirements

of this chapter.


Note: The Village shall not be liable for any financial loss incurred by any permit holder whose building permit(s) has/have been revoked or suspended in accordance with the terms of this chapter. 117.80 Revocation of Contractors Certificate of Registration. A. If the Community Development Director believes that grounds listed in Section

117.70 exist for revocation, he / she shall give notice in writing to the contractor stating the nature and details of the violation and stating that the contractor has ten (10) days from the date that notice is served to correct the violations or to show cause


{20/74.39/CODEAMEN/00044179.DOCX}


to the Community Development Director in writing or in person why there is no violation. If, after notice has been served and the contractor has had the opportunity to correct the violation or show cause why no violation occurred, the Community Development Director determines that a violation exists, the Community Development Director may recommend revocation of the contractor's certificate of registration to the Village Board of Trustees.

B. Notice of violation and pending revocation shall be given and considered served as

follows:



3. By posting a copy of the notice in a conspicuous place on the site on which the

contractor is working, on the date on which the notice is posted.


D. The Village Board of Trustees shall consider the recommendation of the Community

Development Director and any written submittal by the contractor and determine whether a violation exists, whether the certificate of registration should be revoked and the duration of the revocation period at a regular board meeting. The board's determination shall be final.

E. Insofar as they may be applicable to the administration of this chapter, the Director of

Community Development is authorized and directed to promulgate rules and regulations reasonably required to administer the registration program hereby created.

117.90 Enforcement.



C. In addition to any fines imposed, the Village may seek to enjoin the contractor from

present or future violation of this chapter. This remedy shall not be exclusive to other legal remedies available to the Village.


{20/74.39/CODEAMEN/00044179.DOCX}


Approved this 19th day of October, 2021.

Ayes: Nays: Absent/Abstain:

Chuck Black Tim Howe Adam Schlick Tom Shaw Jennifer Kuhn Nicole M. Ferrier ______ ______ ______

APPROVED:

By: Date: JEFF A. SODE, Mayor

ATTEST: By: VIRGINIA RADCLIFFE, Village Clerk Presented and read, or reading having been waived, at a duly convened meeting of the Corporate Authorities on October 19, 2021. I hereby certify that the above ordinance was published in pamphlet form on ___________, 2021 as provided by law. VIRGINIA RADCLIFFE, Village Clerk


{20/74.39/CODEAMEN/00044179.DOCX}


TITLE XI. CHAPTER 117 - CONTRACTOR REGISTRATION

117.10 - Intent.

It is the intent of this chapter to provide an effective means for the Village to regulate contractors who operate within the Village, to ensure that they are insured, to monitor basic compliance with federal, state and local laws regulating their operation and to require a certain standard of conduct for the protection of property owners. This chapter is not intended as a recommendation or to guarantee workmanship of the contractors who are licensed by the State of Illinois or registered with the Village of Wauconda.

117.20 - Contractor Defined.


B. An owner of property performing work on such property that is occupied by the owner shall not be considered a contractor for purposes of this chapter; however, any person hired by such owner to perform work on such property shall be considered a contractor.






1. Name of person, joint venture, partnership, corporation or other legal entity making the application (hereinafter the "applicant");


{20/74.39/CODEAMEN/00044179.DOCX}



3. Indicate the type of work to be performed and the trade or trades in which the applicant performs work;



6. Payment of the registration fee in the amount of seventy-five dollars ($75.00) for one-year, one hundred twenty-five dollars ($125.00) for two-year; and, one hundred fifty dollars ($150.00) for three-years; except that state-licensed plumbers, roofers or sprinkler contractors are exempt from a local registration fee pursuant to the Illinois law. Each fee is valid for the time allotted from January 1st through December 31st. Fees may be prorated during the course of the year by months remaining, no partial months, for example, April application is 12 – 3 = 9* monthly fee=prorated fee; and


B. No applicant who is in violation of any federal, state or local law, regulation or ordinance, and no applicant that is indebted to the Village for any fee, fine or other amount, shall be eligible to receive a contractor registration unless and until the violation is remedied and/or the indebtedness is paid.

C. No contractor whose registration was revoked shall be eligible for issuance of a new registration for a minimum of one year, depending on the nature of the revocation offense.

D. The Community Development Department shall accept the registration of all applicants who submit applications that meet all of the application requirements and who are eligible to be registered.

E. The certificate of registration shall be valid for a period of not less than one-year to a maximum of three-years from the date of issuance.

117.50 State Licensed Contractors and Wauconda Registration.

All state licensed contractors shall provide and maintain a copy of a current State-issued license with the Community Development Department. Roofing, plumbing and sprinkler contractors need to submit a copy of their State of Illinois License. The application fee is not required for roofing, plumbing or sprinkler contractors, however registration must be made and remain current.


{20/74.39/CODEAMEN/00044179.DOCX}


117.60 Contractor Insurance.


1. Worker's compensation and employee's liability: Not less than one hundred thousand dollars ($100,000.00) per person;


3. Property damage: Not less than one hundred thousand dollars ($100,000.00) for damage to property in any one accident with an aggregate limit of not less than three hundred thousand dollars ($300,000.00).


C. Certificate In Good Standing from the Illinois Secretary of State is required for Corporations & LLC’s. It is not necessary to purchase the actual certificate. A screenshot of the business record from the ILSCS.gov website is acceptable.

117.70 Certificate of Registration Grounds for Revocation.

The commission or omission of any of the following acts shall, in addition to the violation of any applicable section of this chapter, Village ordinance or state law, constitute grounds for the suspension or revocation of a contractor's registration:







{20/74.39/CODEAMEN/00044179.DOCX}


F. Performance of any work in the Village for which a building permit(s) is required without first having obtained said building permit(s) or continuing to work after the building permit(s) has/have expired.

G. Performance of any work without insurance in place meeting the minimum requirements of this chapter.


Note: The Village shall not be liable for any financial loss incurred by any permit holder whose building permit(s) has/have been revoked or suspended in accordance with the terms of this chapter.

117.80 Revocation of Contractors Certificate of Registration.

A. If the Community Development Director believes that grounds listed in Section 117.70 exist for revocation, he / she shall give notice in writing to the contractor stating the nature and details of the violation and stating that the contractor has ten (10) days from the date that notice is served to correct the violations or to show cause to the Community Development Director in writing or in person why there is no violation. If, after notice has been served and the contractor has had the opportunity to correct the violation or show cause why no violation occurred, the Community Development Director determines that a violation exists, the Community Development Director may recommend revocation of the contractor's certificate of registration to the Village Board of Trustees.

B. Notice of violation and pending revocation shall be given and considered served as follows:



3. By posting a copy of the notice in a conspicuous place on the site on which the contractor is working, on the date on which the notice is posted.


D. The Village Board of Trustees shall consider the recommendation of the Community Development Director and any written submittal by the contractor and determine whether a


{20/74.39/CODEAMEN/00044179.DOCX}


violation exists, whether the certificate of registration should be revoked and the duration of the revocation period at a regular board meeting. The board's determination shall be final.

E. Insofar as they may be applicable to the administration of this chapter, the Director of Community Development is authorized and directed to promulgate rules and regulations reasonably required to administer the registration program hereby created.

117.90 Enforcement.



C. In addition to any fines imposed, the Village may seek to enjoin the contractor from present or future violation of this chapter. This remedy shall not be exclusive to other legal remedies available to the Village.

of 13 {20/74.39/CODEAMEN/00044179.DOCX}

(Example)

Contractor’s Certificate of Registration Department of Community Development

109 W Bangs St. Wauconda IL 60084 (847) 526-9609

Village of Wauconda Contractor’s Registration Program Certifies that

Supply Company, Inc.

HAS SUCCESSFULLY MET THE CONTRACTOR’S REGISTRATION REQUIREMENTS PER VILLAGE ORDINANCE 2021-O-XX FOR CONTRACTOR’S REGISTRATION.

THIS CERTIFICATE OF REGISTRATION AFFIRMS THE CONTRACTOR MENTIONED ABOVE IS PERMITTED TO OPERATE WITHIN THE VILLAGE LIMITS PER CURRENT

REGULATIONS.

Given this 5th day of August 2021 Gregory J Anderson

Certificate No. 2021-000 Authorized By Gregory J Anderson

__________________________________________

Director of Community Development

of 13 {20/74.39/CODEAMEN/00044179.DOCX}

Valid for 3-Years | Expires: Aug. 5th 2024

village of wauconda regular village board meeting …

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