HomeMy WebLinkAboutBloomingdale School District 13 - Public Financial ReportFor the Fiscal Year Ended
June 30, 2022
Bloomingdale School District No.13
DuPage County –Bloomingdale, Illinois
Annual Comprehensive Financial Report
Bloomingdale School District No. 13
Bloomingdale, Illinois
Annual Comprehensive Financial Report
For the fiscal year ended
June 30, 2022
Officials Issuing Report
Valerie Varhalla
Director of Finance
Department Issuing Report
Business Office
Bloomingdale School District No. 13
Year Ended June 30, 2022
Table of Contents
Table of Contents................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................i - iv
Introductory Section
Officers and Officials................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................v
Organizational Chart................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................vi
Certificate of Excellence in Financial Reporting................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................vii
Letter of Transmittal................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................viii - xii
Financial Section
Independent Auditor's Report................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................1
Management's Discussion and Analysis................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................4
Basic Financial Statements
Government-wide Financial Statements
Statement of Net Position................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................14
Statement of Activities................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................15
Fund Financial Statements
Balance Sheet - Governmental Funds................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................16
Reconciliation of the Balance Sheet of Governmental Funds to the Statement of
Net Position................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................17
Statement of Revenues, Expenditures and Changes In Fund
Balances - Governmental Funds................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................18
Reconcilation of the Statement of Revenues, Expenditures and Changes in Fund
Balances of Governmental Funds to the Statement of Activities................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................19
Notes to Financial Statements................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................20
Required Supplementary Information
Schedule of Changes in the Employer's Net Pension Liability
and Related Ratios - Illinois Municipal Retirement Fund................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................54
Schedule of Employer Contributions - Illinois Municipal Retirement Fund................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................56
Schedule of the District's Proportionate Share of the Net Pension Liability -
Teachers' Retirement System................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................57
Schedule of Employer Contributions - Teachers' Retirement System................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................59
Bloomingdale School District No. 13
Year Ended June 30, 2022
Table of Contents (Continued)
Schedule of the District's Proportionate Share of the
Net OPEB Liability and Related Ratios -Postretirement Medical................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................60
Schedule of Employer Contributions - Postretirement Medical................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................62
Schedule of the District's Proportionate Share of the
Net OPEB Liability and Related Ratios - Teachers' Health Insurance Security
Fund................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................63
Schedule of Employer Contributions - Teachers' Health Insurance Security Fund................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................65
Schedule of Revenues, Expenditures and Changes In Fund Balance
Budget and Actual-General Fund................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................66
Notes to Required Supplementary Information................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................67
Combining and Individual Fund Financial Statements and Schedules
General Fund:
Combining Balance Sheet by Account................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................68
Combining Schedule of Revenues, Expenditures and Changes in Fund Balances
by Account - General Fund................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................69
Educational Account:
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget
and Actual................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................70
Operations and Maintenance Account:
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget
and Actual................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................77
Working Cash Account:
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget
and Actual................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................78
Combining Balance Sheet - Nonmajor Governmental Funds................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................79
Combining Statement of Revenues, Expenditures, and Changes
in Fund Balances - Nonmajor Govnermental Funds................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................81
Transportation Fund:
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget
and Actual................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................83
Bloomingdale School District No. 13
Year Ended June 30, 2022
Table of Contents (Continued)
Municipal Retirment/Social Security Fund:
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget
and Actual................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................84
Tort Immunity Fund:
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget
and Actual................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................85
Debt Service Fund:
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget
and Actual................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................86
Capital Projects Fund:
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget
and Actual................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................87
Statistical Section - Unaudited
Net Position by Component................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................88
Changes in Net Position................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................90
Fund Balances - Governmental Funds................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................92
Changes in Fund Balances - Governmental Funds................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................94
Property Tax Rates, Extensions and Collections................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................96
Assessed Value and Estimated Actual Value of Taxable Property................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................98
Direct and Overlapping Governments - Property Tax Rates................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................99
Principal Taxpayers in District................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................100
Direct and Overlapping Bonded Debt................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................101
Legal Debt Margin................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................102
Ratio of General Obiligation Debt Outstanding................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................104
Bloomingdale School District No. 13
Year Ended June 30, 2022
Table of Contents (Continued)
Ratio of Outstanding Debt by Type................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................105
Principal Employers in the District................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................106
Demographic and Economic Statistics................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................107
Employee by Function................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................108
School Building Information................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................110
Operating Statistics................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................112
I. INTRODUCTORY SECTION
v
Bloomingdale School District No. 13
164 South Euclid Avenue
Bloomingdale, Illinois 60108
Annual Comprehensive Financial Report
Officers and Officials
Fiscal Year Ended June 30, 2022
Board of Education
Term Expires
Mr. Matt Boebel President 2023
Ms. Tamara Peterson Vice President 2023
Mrs. Linda Wojcicki Secretary 2023
Mr. Terrence McKeown Member 2023
Mr. Michael Lenisa Member 2023
Ms. Kari Zehme Member 2023
Mr. Patrick Devitt Member 2023
District Administration
Dr. Jon Bartelt Superintendent
Ms. Valerie Varhalla Director of Finance and Treasurer
Mrs. Nicole Gabany Director of Teaching and Learning
Officials Issuing Report
Dr. Jon Bartelt Superintendent
Ms. Valerie Varhalla Director of Finance and Treasurer
Principals
Mr. Patrick Haugens DuJardin Elementary School
Mrs. Stacy Johnston Erickson Elementary School
Mr. Stefan Larsson Westfield Middle School
Department Issuing Report
Business Office
BLOOMINGDALE
SCHOOL DISTRICT 13
164 EUCLID AVE.
BLOOMINGDALE, IL 60108
Administrative
Organizational Chart
2021-2022
Superintendent
ORGANIZATIONAL CHART
Director of
Buildings and
Grounds
Director of
Student
Services
Director of
Finance -
CSBO
Director of
Teaching &
Learning
Director of
Technology
Principal
DuJardin
Elementary
Principal
Erickson
Elementary
Principal
Westfield Middle
Administrative
Assistant
Administrative
Assistant
Administrative
Assistant/
Bookkeeper
Payroll
Benefits
Coordinator
Network
Manager
District
Technician
Administrative
AssistantAssistant
Principal
2 Admin.
Assts.
2 Admin.
Assts.
1.5
2 Admin.
Assts.
Assistant
Principal
Clerk
0.5
Maintenance
1.5
vi
The Certificate of Excellence in Financial Reporting is
presented to
Bloomingdale School District No. 13
for its Annual Comprehensive Financial Report
for the Fiscal Year Ended June 30, 2021.
The district report meets the criteria established for
ASBO International’s Certificate of Excellence in Financial Reporting.
William A. Sutter David J. Lewis
President Executive Director
viiD
Government Finance Officers Association
Certificate of Achievement
for Excellence
in Financial
Reporting
Presented to
Bloomingdale School District No. 13
Illinois
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June 30, 2021
Executive Director/CEO
Bloomingdale
School District 13
164 Euclid Avenue
Bloomingdale,
Illinois
60108-2604
Phone:
630-893-9590
Fax
630-893-1818
--------------------------
Dr. Jon Bartelt
Superintendent
jbartelt@sd13.org
Mrs. Nicole Gabany
Director of Teaching and
Learning
ngabany@sd13.org
Ms. Samia Hefferan
Director of Student Services
shefferan@sd13.org
Mr. Richard McCall
Director of Technology
rmccall@sd13.org
Mr. Greg Leyden
Director of Buildings
and Grounds
Ms. Valerie Varhalla
Director of Finance
December 12, 2022
Members of the Board of Education Bloomingdale
School District 13 Bloomingdale, Illinois 60108
Dear Members of the Board:
We are pleased to present the Annual Comprehensive Financial Report of Bloomingdale
School District No. 13, Bloomingdale IL, (the “District”), for the fiscal year ended June 30,
2022. The report contains financial statements, required supplemental information,
supplemental statements and other financial and statistical information to provide complete
and full disclosure of all material financial aspects of the District for the current fiscal year.
The Illinois State Board of Education requires that every school district issue a complete set
of audited financial statements. This report is published to fulfill that requirement for the
fiscal year ended June 30, 2022.
Management assumes full responsibility for the completeness and reliability of the
information contained in this report, based on a comprehensive framework of internal
control that it has established for this purpose. Because the cost of internal control should
not exceed anticipated benefits, the objective is to provide reasonable, rather than absolute,
assurance that the financial statements are free of any material misstatements.
Wipfli, LLP, Certified Public Accountants have completed an independent audit of the
Districts financials and have issued an unmodified (“Clean”) opinion on the Bloomingdale
School District 13 financial statements for the year ended June 30, 2022. The independent
auditor’s report is within.
The report is prepared in conformance with accounting principles generally accepted in the
United States of America, (GAAP), as set forth by the Governmental Accounting Standards
Board (GASB) and other recognized authoritative services, and is representative of the
District’s continuing commitment to provide meaningful financial information to the citizens
of the District.
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 statements. MD&A complement this letter of transmittal and should be read in
conjunction with it.
ǀŝŝŝ
Profile of the District
The mission of Bloomingdale School District 13 is, developing actively involved learners, well-rounded students, and
responsible citizens in partnership with the community. Bloomingdale School District 13 is committed to its core
values:
•Ensuring every child will learn;
•Treating everyone with honor and respect;
•Working together to achieve.
The District is an elementary (PreK-8) school district in Bloomingdale, Illinois, which operates as a single district, with
an enrollment of approximately 1,350 students. The governing body consists of a seven- member Board of Education
elected from within the District’s boundaries. According to the Illinois School Code, the Board of Education:
a.has the corporate power to sue and be sued in all courts,
b.has the power to levy and collect taxes and to issue bonds,
c.can contract for appointed administrators, teachers, and other personnel, as well as for goods and services.
d.holds title to all District property, and
e.appoints the Treasurer who serves as legal custodian of all the District’s funds.
The Board of Education appoints a superintendent who, in turn, recommends to the Board of Education the
appointment of the remaining administrative team. An organizational chart is provided at the front of this report.
The District is required to adopt an annual budget for all its funds by September 30 of each year. The annual budget
serves as a foundation for financial planning and control. The budget is prepared by fund, function (e.g., instruction,
support services), location, program, and object (e.g., salaries, employee benefits). Additional information of the
District’s budgetary accounting can also be found in the notes to required supplementary information and later in
this letter. The Board of Education approves the hiring of employees, awarding of bids, and payments to vendors at
its regular meetings throughout the year.
The primary purpose of the Board of Education is to provide each student living within the District’s boundaries the
educational opportunities necessary to be a productive citizen in our democratic society. There are four basic
purposes to public education, which are as follows:
1. Education is the concern of all the people, hence it becomes the function of the state and local community.
2. Public schools are designed to allow each individual to develop to his/her maximum potential in order to be
a contributing member of a democratic society.
3. Equal educational and extracurricular opportunities shall be available for all students without regard to race,
color, national origin, gender, religious beliefs, physical and mental handicap or disability, pregnancy, or
actual or potential marital or parental status. Further, the District will not knowingly enter into agreements
with any entity or any individual that discriminates against students on the basis of gender or any other
protected status, except that the District remains viewpoint neutral when granting access to school facilities.
4. Public education should transmit the highest ideals of our culture to each succeeding generation and to
instill in each individual the desire to pursue learning as a lifelong activity. The entire District staff is involved
in correlating the local objectives. The District uses local assessments at all grade levels. The local learning
objectives and assessments correlated with the state program, thus measuring student progress from PreK-
8 grades. The majority of students continue to perform above state averages. Bloomingdale School District
No. 13 students continue to achieve above state and national averages.
ŝdž
Our PreK–8 curriculum offers each student a strong foundation in reading, language arts, mathematics, science and
social studies. We also provide music, art and physical education in all grades, with drama, and communications,
and Spanish at the middle school level.
A reading support program expands the abilities of students by reinforcing their strengths while remediating
weaknesses. Staffed by district reading specialists, this federally-funded program is offered to students identified
through test scores and classroom reading performance. These students work in small groups during 30-minute
sessions several times each week.
Parents or guardians of any student may inspect instructional materials used in our schools. Those materials include
textbooks, teachers’ manuals, and other print and electronic resources. Please call the principal’s office for an
appointment if you wish to view any of these materials.
In closing, the Board of Education of Bloomingdale School District 13 offers one of the most comprehensive educational
programs in the western suburban area. Consistently, the Board of Education has allocated timely and accurate
resources for the programming needs of the educational community.
Accounting Systems and Budgetary Controls
/n developing and evaluating the District's accounting system, consideration is given to the adequacy of internal
accounting controls. Such controls are designed to provide reasonable, but not absolute, assurance for the
safeguarding of assets against loss from unauthorized use or disposition and the reliability of financial records for
preparing financial statements and maintaining accountability for assets. We believe that our internal accounting
controls adequately safeguard District assets and provide reasonable assurance of the proper recording of financial
data.
Budgetary control is maintained at line item levels and built up into location, department, and program totals before
being combined to create fund totals. All actual activity compared to budget is reported to the District's Administrative
team and to the Board of Education monthly. The reports compare year to date activity versus budget and prior year
actual. Full disclosures are made if extraordinary variances appear during the year.
As a recipient of federal and state financial assistance, the District also is responsible for ensuring that an adequate
internal control structure is in place to ensure compliance with applicable laws and regulations related to those
programs. This internal control structure is subject to periodic evaluation by management.
Local Economy
The District covers an estimated five square mile area. The District serves most of the Village of Bloomingdale,
portions of the Villages of Roselle, Addison, Medinah and a portion of unincorporated Bloomingdale Township. The
District operates two elementary schools and one middle school facility, serving the needs of 1,350 students in
grades PreK-8. Classrooms studies are enhanced by Instructional Media Centers and state-of-the-art technology.
The combined assessed valuation of industrial and commercial property averaged approximately 10% percent of the
total property valuation within the School District which adds the property tax burden on residential homeowners.
The equalized assessed valuation (EAV) for tax year 2021 increased 2.40% to $625,636,464 over the 2020 EAV of
$610,980,459 The increase in the EAV resulted in a slightly lower tax rate, due to limitations of the tax cap formula.
dž
In February 1995, the Illinois General Assembly passed tax cap legislation (P.L. 89-1) for DuPage County making it
retroactive to the 1994 tax year. This legislation, known as the Property Tax Extension Limitation Law Act, limits the
District’s ability to generate property tax revenues. In addition to P.L. 89-1, the Illinois General Assembly amended
Article 20, which limits the amount of debt service taxes a district can generate through the sale of non-referendum
bonds to the district’s 1994 aggregate non-referendum debt service amount.
In order for a District to increase its property tax rates, a referendum question would need to be put to the voters.
For information regarding the District’s financial position and respective changes in financial position, please read
the Management’s Discussion and Analysis on pages 4-12.
Long-Term Financial Planning
The District needs to be fiscally prudent. Key areas of concern are property tax freeze, low inflation, unfunded
mandates, growing special education student needs, increasing health care costs, and pension cost shift. The District
will continue to explore reducing expenditures where possible. The District’s enrollment has been increasing an
average of 20 students per year over the past 5 years. This trend is expected to continue. As a result of this trend,
the District is exploring options of putting on addition to the middle school, in order to accommodate this growth.
Even though there is a large disparity in the age of the District’s buildings, all of them have been very well maintained
and require little capital improvements. The average age of all three buildings is 43 years old.
District finances are monitored through such means as monthly finance reports to the Board of Education, the
annual budget process, and long-term financial projections. The President of the Board of Education sets an agenda
for the meetings. Agenda items include discussions on all major District revenues, expenses, investment practices
and policies, and practices related to the management of District finances. The Board of Education through
discussions shapes strategic directions for finance and monitors all policies related to the financial administration of
District 13. The Board of Education provides guidance to management on the financing of strategic initiatives and
District goals.
Relevant Financial Policies
Budget planning begins no later than March by adopting a proposed budget calendar. The proposed budget shall be
available for public inspection and comment at least 30 days before the budget hearing. The adopted budget shall be
posted on the District’s website and filed with the DuPage County Clerk’s office within 30 days of adoption. The
Board of Education may amend the budget by following the same procedure as provided for in the original adoption.
The Board of Education shall act on all expenditures, interfund loans and transfers, transfers within funds in excess
of 10 percent of the total fund, and all contingency fund expenditures.
The Chief School Business Official acts as the Chief Investment Officer and Treasurer. The Treasurer invests money
in accordance with Board policy and state law. See the Notes to the Basic Financial Statements for additional
information on cash and investments.
The certificate of property tax levy is to be filed with the DuPage County Clerk’s office by the last Tuesday in
December. The District annually publishes a statement of affairs regarding its financial position by November 30th.
džŝ
Major Initiatives
The Bloomingdale School District No. 13 major initiatives is accomplished through its Strategic Plan. The
Strategic Plan is intended to provide a framework for decision-making that builds upon a common mission,
vision, and guiding principles held by the District community. The process has utilized a broad spectrum of data
to result in a strategic plan that reflects a shared consensus of stakeholders.
Strategic Goals and Objectives
The goals in this section have been categorized into four strategic areas that emerged through the research
phase of the strategic planning process.
1.WHOLE CHILD GROWTH and ACHIEVEMENT - By holding high standards and teaching each
student based on their own individual strengths and weaknesses, all students can flourish.
2.TEACHING and LEARNING - With a strong curriculum and exceptional teachers, the
District can best support student achievement and growth.
3.COMMUNICATION and COLLABORATION – A collaborative and inclusive school
culture with sound communication practices enhances district performance for all
stakeholders.
4.RESOURCES – Advance and manage effective use of financial and human resources to support
safe, learner centered environments.
Awards and
Acknowledgements
The Government Finance Officers Association (GFOA) and the Association of School Business Officials
International (ASBO) provide an award known as the Certificate of Achievement for Excellence in Financial
Reporting for Annual Comprehensive Financial Report. The District will be a third time applicant for this prestigious
award. In order to be awarded a Certificate of Achievement, the District will have to publish an easily readable
and efficiently organized Annual Comprehensive Financial Report that satisfied both generally accepted
accounting principles and applicable legal requirements.
The Certificates are valid for a period of one year only. We believe that our current Annual Comprehensive
Financial Report meets both program requirements, and we are submitting it to ASBO and GFOA to determine
its eligibility for certification.
The preparation of this report would not have been possible without the efficient and dedicated services of the
Business Office Staff. We wish to express our appreciation to Cindy Marshall, Geri Zanoni, and Cheryl Woehrle
who assisted and contributed to preparation of this report. Also, credit must be given to the members of the
Board of Education for their desire and commitment to maintain the highest standards of professionalism in the
management of Bloomingdale School District 13 finances.
Dr. Jon Bartelt Ms. Valerie Varhalla
Superintendent Chief School Business Official
džŝŝ
II. FINANCIAL SECTION
Independent Auditor's Report
Board of Education
Bloomingdale School District 13
Bloomingdale, Illinois
Opinions
We have audited the accompanying financial statements of the governmental activities, each major fund and the
aggregate remaining fund information of Bloomingdale Elementary School District 13 (the "District"), as of and for
the year ended June 30, 2022, and the related notes to the financial statements, which collectively comprise the
District's basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective
financial position of the governmental activities, each major fund and the aggregate remaining fund information
of the District, as of June 30, 2022, and the respective changes in financial position for the year then ended in
accordance with accounting principles generally accepted in the United States.
Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States. Our
responsibilities under those standards are further described in the Auditor's Responsibilities for Audit of the
Financial Statements section of our audit. We are required to be independent of the District, and to meet our
other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinions.
Responsibilities of Management 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, and for 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.
In preparing the financial statements, management is required to evaluate whether there are conditions or
events, considered in the aggregate, that raise substantial doubt about the District's ability to continue as a going
concern for twelve months beyond the financial statement date, including any currently known information that
may raise substantial doubt shortly thereafter.
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatements, whether due to fraud or error, and to issue an auditor's report that includes our
opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a
guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a
material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is
higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control. Misstatements are considered material if there is a
substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a
reasonable user based on the financial statements.
1
In performing an audit in accordance with generally accepted auditing standards, we:
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and access the risks of material misstatement of the financial statements, whether due to fraud
or error, and design and perform audit procedures responsive to those risks. Such procedures include
examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Obtain an understanding of internal control relevant to the audit 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 District's internal control. Accordingly, no such opinion is expressed.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that
raise substantial doubt about the District's ability to continue as a going concern for a reasonable period
of time.
We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that
we identified during the audit.
Required Supplementary Information
The accounting principles generally accepted in the United States of America (GAAP) require that a management's
discussion and analysis and other required supplementary information as listed in the table of contents be
presented to supplement the basic financial statements. Such information is the responsibility of management
and, 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.
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the District's basic financial statements. The introductory section, combining and individual fund
financial statements and schedules, and statistical section,are presented for purposes of additional analysis and
are not a required part of the basic financial statements.
The combining and individual fund financial statements and schedules are the responsibility of management and
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 (GAAS). In our opinion, the combining and individual
nonmajor fund financial statements are 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.
2
We also have previously audited, in accordance with auditing standards generally accepted in the United States,
the District's basic financial statements for the year ended June 30, 2021, which are not presented with the
accompanying financial statements, and we expressed unmodified opinions on the respective financial
statements of the financial statements of the governmental activities, each major fund, and the aggregate
remaining fund information. The audit was conducted for the purpose of forming opinions on the financial
statements that collectively comprise the District's basic financial statements as a whole. The schedules of
revenues, expenditures and changes in fund balances - budget and actual, related to the 2021 financial
statements for the year ended June 30, 2021, are presented for purposes of additional analysis and are not a
required part of the basic financial statements. Such information is the responsibility of management and was
derived from and related directly to the underlying accounting and other records used to prepare the 2021 basic
financial statements. The information has been subjected to the auditing procedures applied in the audit of
those basic financial statements and certain additional procedures, including comparing and reconciling such
information directly to the underlying accounting and other records used to prepare the basic financial
statements or to the basic financial statements themselves, and other additional procedures in accordance with
auditing standards generally accepted in the United States. In our opinion, the 2021 schedules of revenues,
expenditures and changes in fund balances - budget and actual are fairly stated in material respects in relation to
the basic financial statements from which they have been derived.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated December 13, 2022 on
our consideration of the District'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 the District's 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 the District's internal control over financial reporting and
compliance.
Aurora, Illinois
December 13, 2022
3
BLOOMINGDALE SCHOOL DISTRICT NO.13
Management’s Discussion and Analysis
For the Year Ended June 30, 2022
The discussion and analysis of Bloomingdale Elementary School District No. 13's (the District) financial performance
provides an overall review of the District’s financial activities for the year ended June 30, 2022. The District’s financial
statements incorporate required information for the District to be in compliance with the provisions of Governmental
Accounting Standards Board Statement No. 34. The management of the District encourages readers to consider the
information presented herein in conjunction with the basic financial statements to enhance their understanding of the
District’s financial performance. This report, Management’s Discussion and Analysis (MD & A), provides an overview of
the District’s financial activities for the fiscal year ended June 30, 2022 with comparative data to the fiscal year ended June
30, 2021.
Financial Highlights
The District's total net position as of June 30, 2022 was $9,805,372 up 35.12% from FY21 due to pension and OPEB
changes.
The combined fund balances of governmental funds as of June 30, 2022 was $14,741,082,reflecting an increase
of $2,092,784, or 16.55%.
The portion of the total fund balance representing the General Fund (Educational Account,Operations &
Maintenance Account,and Working Cash Account),equals $12,233,923 or 82.99%.
Overview of the Financial Statements
This discussion and analysis are intended to serve as an introduction to the District’s basic financial statements. The basic
financial statements are comprised of three components:
The basic financial statements are comprised of three components:
Government-wide financial statements,
Fund financial statements, and
Notes to the financial statements
This report also contains required supplementary information and other supplementary information in addition to the
basic financial statements.
Reporting the District as a Whole
Government-wide financial statements
The government-wide financial statements are designed to provide readers with a broad overview of the District’s
finances, in a manner similar to a private-sector business.
4
BLOOMINGDALE SCHOOL DISTRICT NO.13
Management’s Discussion and Analysis
For the Year Ended June 30, 2022
The Statement of Net Position presents information on all of the District’s assets, deferred outflows of resources, liabilities,
and deferred inflows of resources. Net position is the difference between assets plus deferred outflows of resources and
liabilities plus deferred inflows of resources. Over time, increases or decreases in net position may serve as a useful
indicator of whether the financial position of the District is improving or deteriorating.
The Statement of Activities presents expenses of major programs (functions) and matches direct program revenues with
each. To the extent that direct charges and grants do not recover a program’s cost, it is paid from general taxes and other
resources. The statement simplifies the user’s analysis to determine the extent to which programs are self-supporting
and/or subsidized by general revenues.
The government-wide financial statements present the functions of the District that are principally supported by taxes
and intergovernmental revenues (governmental activities). The District has no business-type activities; that is, functions
that are intended to recover all or a significant portion of their costs through user fees and charges. The District’s
governmental activities include instructional services (regular education, special education, and other), supporting
services, and interest on long-term liabilities.
Reporting the District’s Most Significant Funds
The analysis of the District’s major funds begins on page 16. These statements reinforce information in the government-
wide financial statements or provide additional information. Each of the District’s major funds is presented in a separate
column in the fund financial statements and the remaining funds (considered non-major funds) are combined into a
column titled “Nonmajor Governmental Funds.” For the General Fund, a Budgetary Comparison Statement is also
presented.
The District’s major governmental fund is the General Fund (Educational Account, Operations and Maintenance Account
and Working Cash Account).
The District’s non-major governmental funds consist of the Transportation, Illinois Municipal Retirement/Social Security,
Tort Immunity, Debt Service, and Capital Projects Funds. Users who want to obtain information on non-major funds can
find it in the “Combining and Individual Fund Schedules” section of this Report.
The District’s individual funds are established based upon legal requirements and the Illinois Administrative Code.
Substantially all of the District’s activities are reported in governmental funds, which focus on how money flows into and
out of those funds and the balances left at year-end available for spending in future periods. The governmental fund
statements provide a detailed short-term view of the District’s general government operations and the basic services it
provides. Governmental fund information helps the reader determine whether there are more or less financial resources
available to spend in the near future to finance the District’s programs. The relationship (or differences) between
governmental activities (reported in the Statement of Net Position and the Statement of Activities) and governmental
funds is reconciled in the basic financial statements.
5
BLOOMINGDALE SCHOOL DISTRICT NO.13
Management’s Discussion and Analysis
For the Year Ended June 30, 2022
District-Wide Financial Analysis
The net position in the District increased by $2,548,714 resulting in a total net position of $9,805,372.
TABLE 1
NET POSITION –GOVERNMENTAL ACTIVITIES
JUNE 30, 2022 AND 2021
2022 2021
Assets:
Current and other assets $34,790,851 $32,333,541
Capital Assets 11,543,387 12,150,166
Total Assets 46,334,238 44,483,707
Deferred outflows of resources:
Pensions and OPEB 9,035,794 5,501,069
Liabilities:
Current liabilities 1,771,375 1,335,668
Long-term liabilities 10,692,417 9,444,742
Total Liabilities 12,463,792 10,780,410
Deferred inflows of resources:
Pensions and OPEB 14,445,639 13,598,133
Property taxes levied for subsequent years 18,655,229 18,349,575
Total deferred inflows of resources 33,100,868 31,947,708
Net Position:
Net Investment in capital assets 8,997,860 9,227,889
Restricted 2,560,667 2,626,741
Unrestricted (deficit)(1,753,155)(4,597,972)
Total Net Position $9,805,372 $7,256,658
6
BLOOMINGDALE SCHOOL DISTRICT NO.13
Management’s Discussion and Analysis
For the Year Ended June 30, 2022
TABLE 2
CHANGE IN NET POSITION
FOR THE FISCAL YEARS ENDED JUNE 30, 2022 AND 2021
2022 2021
Revenues:
Program Revenues:
Charges for service $336,126 $313,264
Operating grants and contributions 5,943,862 8,433,152
General Revenues:
Property taxes 18,318,149 17,866,029
Unrestricted federal and state aid 920,644 919,331
Other sources 428,127 674,418
Total Revenues 25,946,908 28,206,194
Expenses:
Instruction 15,610,959 18,294,772
Pupil and instructional services 1,551,671 1,534,476
Administration and business 2,475,563 2,504,661
Operations and maintenance 2,094,893 1,984,907
Transportation 1,010,329 679,612
Food service 52,079 44,232
Other 602,700 493,464
Total Expenses 23,398,194 25,536,124
Change in Net Position 2,548,714 2,670,070
Net Position –Beginning 7,256,658 4,586,588
Net Position -Ending $9,805,372 $7,256,658
7
BLOOMINGDALE SCHOOL DISTRICT NO.13
Management’s Discussion and Analysis
For the Year Ended June 30, 2022
0
2,000,00 0
4,000,00 0
6,000,00 0
8,000,00 0
10 ,000 ,0 00
12 ,000 ,0 00
14 ,000 ,0 00
16 ,000 ,0 00
18 ,000 ,0 00
20 ,000 ,0 00
20 22 20 21
DI STRI CT-WIDE REVENUE
Charges for se rvi ce Operating grants and con tribu tions Prop er ty taxes Unrest ri cted federal and state aid Other sourc es
0
2,000,00 0
4,000,00 0
6,000,00 0
8,000,00 0
10 ,000 ,0 00
12 ,000 ,0 00
14 ,000 ,0 00
16 ,000 ,0 00
18 ,000 ,0 00
20 ,000 ,0 00
20 22 20 21
DISTRI CT-WIDE EXPENSES BY A CTI VI TY
Instruction Pupil an d in structional serv ice s Ad ministration and business Operations and maintenance
Transportation Food service Other
8
BLOOMINGDALE SCHOOL DISTRICT NO.13
Management’s Discussion and Analysis
For the Year Ended June 30, 2022
TABLE 3
GOVERNMENTAL ACTIVITIES
FOR THE FISCAL YEARS ENDED JUNE 30, 2022 AND 2021
2022 2022 2021 2021
TOTAL COST
OF SERVICES
NET COST OF
SERVICES
TOTAL COST
OF
SERVICES
NET COST
OF
SERVICES
Instructional services $15,610,959 $9,7,69,721
$18,294,77
2 $9,852,683
Support services 7,713,909 7,275,159 7,159,201 6,854,874
Community services 9,704 9,704 5,087 5,087
Interest on long-term liabilities 63,622 63,622 77,064 77,064
Total Expenses $23,398,194 $17,118,206
$25,536,12
4
$16,789,70
8
In Table 3 the total cost of the District’s functions are presented as well as the net cost of those functions. By presenting
the information in this manner, the reader of these financial statements considers the actual cost of each program, after
grants and other charges, versus the benefit of the program.
Financial Analysis of the District’s Funds
Total revenues for all governmental funds for 2021-2022 were $25,668,559. T otal expenditures for all governmental funds
for 2021-2022 were $23,575,775. Revenues exceeded expenditures and other financing sources and uses by $2,092,784.
The fund balance on July 1, 2021 was $12,648,298. The fund balance for all governmental funds on June 30, 2022 was
$14,741,082.
The General Fund’s Educational Account showed revenues exceeded expenditures and other financing sources by
$1,592,699 resulting in an ending fund balance of $6,882,401. The General Fund’s Operations and Maintenance Account
showed revenues exceeded expenditures by $395,795 resulting in an ending fund balance of $2,502,093. The General
Fund’s Working Cash Account had revenues of $171,474 and an ending fund balance of $2,849,429.
9
BLOOMINGDALE SCHOOL DISTRICT NO.13
Management’s Discussion and Analysis
For the Year Ended June 30, 2022
General Fund Budget Information
The District budget is prepared in accordance with Illinois law and is based on the modified accrual basis of accounting,
utilizing revenues, expenditures and encumbrances. Actual revenues of the General Fund exceeded budgeted revenues
by $396,745. The largest revenue budget and actual variance was related to property tax revenue. Actual expenditures
of the General Fund were less than budgeted expenditures by $1,262,390.
Capital Assets and Debt Administration
Capital assets
The total of capital assets, net of depreciation, was 12,150,166 in Fiscal Year 2021 and decreased to $11,543,387 in Fiscal
Year 2022 primarily due to depreciation expense. Capital assets are depreciated using the straight line method with
estimated useful lives of ten to forty years for buildings and improvements, twenty years for land improvements and five
to ten years for equipment. Further detail is included in the notes to the financial statements beginning on page 28.
TABLE 4
CAPITAL ASSETS (NET OF DEPRECIATION)
JUNE 30, 2022 AND 2021
2022 2021
Buildings and improvements 11,082,804 11,643,883
Equipment 460,583 506,283
Total (net)$11,543,387 $12,150,166
Long-term debt
General Obligation Bonds outstanding at year end were $2,400,000. The District’s tax bonds carry an AA+ bond rating.
The District’s ratings reflect a steady, moderate tax base growth, sound financial operations with ample reserves,
moderate debt burden, and adequate security protections.
10
BLOOMINGDALE SCHOOL DISTRICT NO.13
Management’s Discussion and Analysis
For the Year Ended June 30, 2022
Further detail is included in the notes to the financial statements beginning on page 29.
TABLE 5
OUTSTANDING LONG-TERM DEBT
JUNE 30,2022 AND 2021
2022 2021
General obligation bonds $2,400,000 $2,740,000
Total (net)$2,400,000 $2,740,000
Next Year’s Budget
The 2022-2023 budget for the General Fund shows revenues in excess of expenditures of $247,873. Expenditures are
budgeted to exceed revenues by $98,992 in the General Fund’s Educational Account.
Factors Bearing on the District’s Future
The District is presently aware of several circumstances that may significantly affect its financial health in the future:
Interest rates continue to remain extremely low causing a reduction in interest income.
The assessed value of the District is projected to continue to increase. New construction is projected to add very
little to the assessed value in the near future. The assessor’s office continues to see more activity in the area.
Many homes are selling and selling quickly. More homeowners are applying for permits for remodeling projects
and there is an increase in commercial lending.
The collective bargaining agreement will be in effect through 2022. Raises of 3% for FY2020, 3% for FY 2021 and
3% for FY 2022 were agreed upon.
Aging, depreciated school buildings require constant repair and maintenance. We anticipate major building
projects in the future to maintain a quality environment for learning.
The potential of a TRS cost shift, a property tax freeze as well as the State of Illinois financial position could
negatively impact the District.
11
BLOOMINGDALE SCHOOL DISTRICT NO.13
Management’s Discussion and Analysis
For the Year Ended June 30, 2022
CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT
This management and discussion analysis is designed to provide a general overview of the District’s finances and to
demonstrate the District’s accountability for the money it receives. If you have questions about this report or need
additional financial information, contact:
Valerie Varhalla, CSBO
Director of Finance
Bloomingdale School District No.13
164 S. Euclid Avenue
Bloomingdale, Illinois 60108
12
Basic Financial Statements
13
Bloomingdale School District No. 13
Statement of Net Position
June 30, 2022
Governmental
Activities
Assets
Cash and investments $25,847,589
Receivables
Property taxes 8,702,055
Other governments 36,033
Other receivables 205,174
Capital assets, net of depreciation 11,543,387
Total assets 46,334,238
Deferred outflows of resources
Deferred outflows pension related 228,387
Deferred outflows OPEB related 8,807,407
Total deferred outflows of resources 9,035,794
Liabilities
Accounts payable 177,197
Accrued payroll expenses 1,217,343
Long-term liabilities
Due within one year 376,835
Due in more than one year 10,692,417
Total liabilities 12,463,792
Deferred inflow of resources
Property taxes levied for subsequent year 18,655,229
Deferred inflows pension related 1,965,240
Deferred inflows OPEB related 12,480,399
Total deferred inflow of resources 33,100,868
Net position
Net investment in capital assets 8,997,860
Restricted for
Student activities 53,508
Capital projects 195,602
Debt service 110,790
Transportation 1,211,199
Retirement 504,167
Tort immunity 485,401
Unrestricted (1,753,155)
Total net position $9,805,372
See accompanying notes to the basic financial statements.
14
Bloomingdale School District No. 13
Statement of Activities
Program Revenues
Net (Expense)
Revenue and
Changes in Net
Assets
Year Ended June 30, 2022 Expenses
Charges for
Services
Operating
Grants and
Contributions
Total
Governmental
Activities
Functions/Programs
Governmental activities
Instructional services:
Regular programs $7,789,501 $280,704 $-$(7,508,797)
Special programs 2,530,964 -497,801 (2,033,163)
Other programs 536,244 55,422 253,061 (227,761)
State Retirement 4,754,250 -4,754,250 -
Support services:
Students 900,281 --(900,281)
Instructional staff 651,390 -28,383 (623,007)
District administration 907,138 --(907,138)
School administration 1,113,278 --(1,113,278)
Business 455,147 --(455,147)
Operations and Maintenance 2,094,893 -50,000 (2,044,893)
Transportation 1,010,329 -360,110 (650,219)
Food services 52,079 --(52,079)
Staff 529,374 -257 (529,117)
Community Services 9,704 --(9,704)
Interest on long-term liabilities 63,622 --(63,622)
Total governmental activities $23,398,194 $336,126 $5,943,862 (17,118,206)
General revenue
Property taxes levied for:
General purposes 16,590,389
Transportation 674,589
Retirement 576,994
Debt service 426,778
Tort 49,399
State aid not restricted for specific purposes 920,644
Earnings on investments (156,598)
Other general 584,725
Total general revenue 19,666,920
Change in net position 2,548,714
Net position, beginning of year 7,256,658
Net position, ending $9,805,372
See accompanying notes to the basic financial statements.
15
Bloomingdale School District No. 13
Balance Sheet
Governmental Funds
June 30, 2022 General Fund Nonmajor Funds
Total
Governmental
Funds
Assets
Cash and investments $22,413,953 $3,433,636 $25,847,589
Receivables
Property taxes 7,873,524 828,531 8,702,055
Intergovernmental 36,033 -36,033
Other receivables 117,904 87,270 205,174
Total assets $30,441,414 $4,349,437 $34,790,851
Liabilities, deferred inflows, and fund balances
Liabilities
Accounts payable $111,317 $65,880 $177,197
Accrued payroll expenditures 1,217,128 215 1,217,343
Total liabilities 1,328,445 66,095 1,394,540
Deferred inflow of resources
Property taxes levied for subsequent year 16,879,046 1,776,183 18,655,229
Fund balances
Restricted 53,508 2,507,159 2,560,667
Unassigned 12,180,415 -12,180,415
Total fund balances 12,233,923 2,507,159 14,741,082
Total liabilities, deferred inflow of resources, and fund
balances $30,441,414 $4,349,437 $34,790,851
See accompanying notes to the basic financial statements.
16
Bloomingdale School District No. 13
Reconciliation of the Balance Sheet of Governmental Funds
to the Statement of Net Position
June 30, 2022
Total fund balances - governmental funds $14,741,082
Amounts reported for governmental activities in the statement of net
position are different because:
Capital assets used in governmental activities are not financial resources and,
therefore, are not reported in the funds. The cost of the assets is
$30,152,938 and the accumulated depreciation is $18,609,551.11,543,387
Long-term liabilities, including bonds payable and capital leases, are not due
and payable in the current period and therefore are not reported in the
funds.
Bonds payable (2,400,000)
Capital leases payable (21,835)
Premium on bonds (123,692)
Net other postemployment liability - Retiree Health (494,295)
Net other postemployment liability - THIS (7,408,333)
Net pension liability - TRS (813,997)
Net pension asset - IMRF 192,900
Total (11,069,252)
Deferred inflows and outflows of resources related to pensions and other
postemployment benefits are not reported in the governmental funds.
Deferred outflows - pensions 228,387
Deferred outflows - other postemployment benefits 8,807,407
Deferred inflows - pensions (1,965,240)
Deferred inflows - other post employment benefits (12,480,399)
Total (5,409,845)
Net position - governmental activities $9,805,372
See accompanying notes to the basic financial statements.
17
Bloomingdale School District No. 13
Statement of Revenues, Expenditures and Changes In
Fund Balances - Governmental Funds
Year Ended June 30, 2022 General Fund Nonmajor Funds
Total
Governmental
Funds
Revenues:
Local sources
Property taxes $16,590,389 $1,727,760 $18,318,149
Other local sources 727,213 29,032 756,245
State resources 5,495,617 347,801 5,843,418
Federal resources 750,747 -750,747
Total revenues 23,563,966 2,104,593 25,668,559
Expenditures:
Current operating
Instruction 13,779,699 236,468 14,016,167
Support Services 5,884,936 1,511,922 7,396,858
Community services 9,317 387 9,704
Payments to other districts and governmental units 1,360,934 -1,360,934
Capital outlay 346,740 -346,740
Debt service
Payments of principal on long-term debt -360,877 360,877
Interest on long-term debt -84,495 84,495
Total expenditures 21,381,626 2,194,149 23,575,775
Excess (deficiency) of revenues over (under) expenditures 2,182,340 (89,556)2,092,784
Other financing sources (uses):
Transfers in -22,372 22,372
Transfers out (22,372)-(22,372)
Total other financing sources (uses)(22,372)22,372 -
Net change in fund balance 2,159,968 (67,184)2,092,784
Fund balances at beginning of year 10,073,955 2,574,343 12,648,298
Fund balances at end of year $12,233,923 $2,507,159 $14,741,082
See accompanying notes to the basic financial statements.
18
Bloomingdale School District No. 13
Reconciliation of the Statement of Revenues, Expenditures and Changes In
Fund Balances of Governmental Funds to the Statement of Activities
Year Ended June 30, 2022
Net change in fund balances - governmental funds $2,092,784
Amounts reported for governmental activities in the statement of activities
are different because:
Governmental funds report capital outlays as expenditures. However, in the
statement of activities, the cost of these assets is allocated over their
estimated useful lives and reported as depreciation expense. This is the
amount by which capital outlays exceeded depreciation expense in the
current period.
Capital outlay 345,913
Depreciation expense (950,525)
(604,612)
In the statement of activities, the loss or gain on the sale or disposal of
capital assets is recognized. The fund financial statements recognize only the
proceeds from the sale of these assets. Thus, the resulting difference is the
net book value of the sold or disposed assets.(2,167)
The governmental funds record bond and loan proceeds as other financing
sources, while repayment of bond and loan principal is reported as an
expenditure. In the statement of activities, debt issuance and repayment of
bond principal are not reported as they are an increase, or a reduction of
long-term liabilities. The net effect of these differences in the treatment of
general obligation bonds and related items is as follows:
Repayment of bond principal 340,000
Repayment of capital lease principal 20,877
Amortization of bond premium 20,873
Change in net pension liability - TRS 23,033
Change in net pension liability - IMRF 1,064,322
Change in net other postemployment benefits obligation - Retiree Health
Insurance 30,062
Change in net other postemployment benefits obligation - THIS (3,123,677)
(1,624,510)
Changes in deferred inflows and outflows related to pensions and other
postemployment benefits are only reported in the statement of activities.
Changes in deferred outflow and inflows of resources - TRS 23,575
Changes in deferred outflow and inflows of resources - IMRF (695,755)
Changes in deferred outflow and inflows of respurces - THIS 3,371,821
Changes in deferred outflow and inflows of resources - Retiree Health
Insurance (12,422)
2,687,219
Change in net position of governmental activities $2,548,714
See accompanying notes to the basic financial statements.
19
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 1. Summary of Significant Accounting Policies
Bloomingdale School District No. 13 (the "District") is governed by an elected Board of Education. The accounting
policies conform to accounting principles generally accepted in the United States of America (GAAP) as applicable
to governmental units. The Governmental Accounting Standards Board (GASB) is the accepted standard-setting
body for establishing governmental accounting and financial reporting principles. A summary of the significant
accounting policies, consistently applied in the preparation of the accompanying financial statements is described
below.
Accounting principles generally accepted in the United States of America require that the financial reporting entity
include (1) the primary government, (2) organizations for which the primary district is financially accountable and
(3)other organizations for which the nature and significance of their relationship with the primary government
are such that exclusion would cause the reporting entity’s financial statements to be misleading or incomplete.
The criteria provided by governmental accounting standards have been considered and there are no agencies or
entities which should be presented with the District.
a. The Reporting Entity
The District includes all funds of its governmental operations that are controlled by or dependent upon the District
as determined on a basis of financial accountability. Financial accountability includes the appointment of the
organization's governing body, imposition of will, and fiscal dependency. The accompanying financial statements
include only those funds of the District as there are no other organizations for which it has financial accountability.
Joint Agreement - The District is also a member of the following organization:
North DuPage Special Education Cooperative (See Note 11)
b. Basis of Presentation
The District's basic financial statements consist of government-wide statements, including a statement of net
position and a statement of activities, and fund financial statements which provide a more detailed level of
financial information.
1.Government-wide Financial Statements (GWFS)
The statement of net position and the statement of activities display information about the District as a
whole. These statements include the financial activities of the District, except for fiduciary funds. The
effects of interfund activity have been eliminated. Any interfund services provided and used are not
eliminated in the process of consolidation.
The statement of net position presents the financial condition of the governmental activities of the District at
year-end. The statement of activities presents a comparison between direct expenses and program revenues
for each program or function of the District's governmental activities. Direct expenses are those that are
specifically associated with a service, program or department and therefore clearly identifiable to a
particular function.
20
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 1. Summary of Significant Accounting Policies (Continued)
b. Basis of Presentation (Continued)
Program revenues include charges paid by the recipient of the goods or services offered by the program, and
grants and contributions that are restricted to meeting the operational or capital requirements of a
particular program. Property taxes and other revenues which are not classified as program revenues are
presented as general revenues of the District. The comparison of direct expenses with program revenues
identifies the extent to which each governmental function is self-financing or draws from the general
revenues of the District.
2.Fund Financial Statements (FFS)
The accounts of the District are organized and operated on the basis of funds. A fund is an independent
fiscal and accounting entity with a self-balancing set of accounts. Fund accounting segregates funds
according to their intended purpose and is used to aid management in demonstrating compliance with
finance-related legal and contractual provisions. The minimum number of funds maintained is consistent
with legal and managerial requirements. Separate financial statements are provided for governmental funds
and fiduciary funds, even though the latter are excluded from the GWFS. Major individual governmental
funds are reported as separate columns in the FFS. The District reports the following major governmental
funds:
The General Fund is the District's primary operating fund. It accounts for all financial resources of the
District, except those required to be accounted for in another fund. The General Fund consists of the
Educational Account, Operations and Maintenance Account, and the Working Cash Account that are legally
mandated by the State of Illinois.
c. Measurement Focus and Basis of Accounting
Government-wide financial statements
The government-wide financial statements are reported using the economic resources measurement focus and
the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is
incurred. Property taxes are recognized as revenue in the year for which they are levied. Grants and similar items
are recognized as revenue when measurable and available.
21
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 1. Summary of Significant Accounting Policies (Continued)
c. Measurement Focus and Basis of Accounting (Continued)
Fund financial statements
Governmental fund financial statements are reported using the current financial resources measurement focus
and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable
and available. Revenues are considered to be available when they are collectible within the current period or
soon enough thereafter to pay liabilities of the current period. Expenditures generally are recorded when a
liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures
related to compensated absences and claims and judgments, are recorded only when payment is due.
Revenues susceptible to accrual generally include property taxes, interest on investments, and
intergovernmental revenues. Property taxes are recorded as revenues in the fiscal year for which they are
levied. Interest on invested funds is recognized when earned. The availability period for all other revenues is
deemed to be within sixty days of the end of the year. If funding is received before the eligibility requirements
have been met, that revenue is recorded as unearned.
d. Investment Valuation
Investments are reported at fair value. Fair value is the price that would be received to sell an asset or paid to
transfer a liability in an orderly transaction between market participants at the measurement date.
e. Capital Assets
Capital assets, which include land, buildings and improvements, and furniture and equipment, are reported in
the government-wide financial statements. The District defines capital assets as assets with an initial,
individual cost of more than $2,500 for furniture, equipment, buildings, and improvements and an estimated
useful life in excess of one year. Such assets are recorded at historical cost or estimated historical cost if
purchased or constructed. Donated capital assets, donated works of art and similar items, and capital assets
received in a service concession arrangement are recorded at acquisition value.
The cost of normal maintenance and repairs that do not add to the value of the asset or materially extend the
life of an asset are not capitalized.
Buildings and improvements and furniture and equipment of the District are depreciated using the straight-
line method over the following estimated useful lives:
Years
Buildings and building improvements 10-40 years
Land improvements 20 years
Furniture, equipment and vehicles 5-10 years
22
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 1. Summary of Significant Accounting Policies (Continued)
f. Long-Term Obligations
In the GWFS, long-term debt and other long-term obligations are reported as liabilities in the statement of net
position. Bond premiums and discounts are deferred and amortized over the life of the bonds using the straight-
line method, which approximates the effective interest method. Bonds payable are reported net of the applicable
bond premium or discount. Bond issuance costs are expensed when the bonds are issued.
In the FFS, governmental fund types 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.
g. Net Position
In the GWFS, net position is reported as restricted when constraints placed on net position is either externally
imposed by creditors, grantors, contributors, or laws or regulations of other governments, or imposed by law
through constitutional provisions or enabling legislation.
Net investment in capital assets consistes of capital assets, net of accumulated depreciation, and reduced by
outstanding balances of bonds, capital leases, and premiums that are attributable to the acquisition, construction,
or improvement of those assets.
When an expense is incurred for purposes for which both restricted and unrestricted net position is available, the
District's policy is to apply restricted net position first.
h. Property Taxes
Property taxes are levied each year on all taxable real property located in the District on or before the last Tuesday
in December. The adoption date for the 2021 tax levy was December 20, 2021. Taxes attach as an enforceable
lien on property on January 1 and are payable in two installments (on or about June 1 and September 1)
subsequent to the year of the levy. The District receives significant distributions of tax receipts approximately one
month after these due dates. Property taxes for the 2021 levy, which are collected during 2022, are considered to
be budgeted to fund operations of the 2022-2023 school year and are reported as deferred inflows of resources.
23
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 1. Summary of Significant Accounting Policies (Continued)
i. Personal Property Replacement Taxes
Personal property replacement tax revenues are first allocated to the extent required by Illinois law in the
Municipal Retirement/Social Security Fund with the balance allocated to funds at the discretion of the District.
j. Vacation and Sick Leave
Employee vacation and sick leave is recorded when it is paid. Accumulated unpaid employee vacation and sick
leave which was earned prior to the current fiscal year but unused at the end of the current fiscal year is not
significant. Vacation and sick leave will be paid with future tax collections and therefore has not been reported as
a current liability of the governmental funds.
k. Use of Estimates
The preparation of financial statements in accordance with accounting principles generally accepted in the United
States requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the
reported amounts of revenues and expenditures during the reporting period. Actual results could differ from
those estimates.
l. Deferred Outflows/Inflows of Resources
A deferred outflow of resources represents a consumption of net assets that applies to a future period and will
not be recognized as an outflow of resources (expense/expenditure) until that future time.
A deferred inflow of resources represents an acquisition of net assets that applies to a future period and therefore
will not be recognized as an inflow of resources (revenue) until that future time.
m. Pensions
For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of
resources related to pensions, and pension expense, information about the fiduciary net positions of the
Teachers’ Retirement System of the State of Illinois (TRS) and the Illinois Municipal Retirement Fund (IMRF),
together “the Plans,” and additions to/deductions from the Plans’ fiduciary net positions have been determined
on the same basis as they are reported by the Plans. For this purpose, benefit payments (including refunds of
employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments
are reported at fair value.
24
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 1. Summary of Significant Accounting Policies (Continued)
n. Net Position
For government-wide reporting, the difference between assets and deferred outflows of resources less liabilities
and deferred inflows of resources is called net position. Net position is comprised of three components; net
investment in capital assets, restricted, and unrestricted.
Net investment in capital assets consists of capital assets, including restricted capital assets, net of accumulated
depreciation and reduced by the outstanding balances of any bonds, mortgages, notes, or other borrowing that
are attributable to the acquisition, construction, or improvements of those assets and adjusted for any deferred
inflows of resources and deferred outflows of resources attributable to capital assets and related debts.
At June 30, 2022, the District had the following net investments in capital assets:
Capital assets, net of accumulated depreciation $11,543,387
Outstanding balances of debt attributable to capital assets (2,421,835)
Premiums on outstanding debt attributable to capital assets (123,692)
Net investment in capital assets $8,997,860
Restricted net position consists of restricted assets and deferred outflows of resources reduced by the liabilities
and deferred inflows of resources related to those assets and deferred outflows of resources, with restriction
constraints placed on their use either by external groups, such as creditors, grantors contributors, or laws and
regulations of other governments, or law through constitutional provisions or enabling legislation.
Unrestricted net position is the net amount of the assets, deferred outflows of resources, and deferred inflows of
resources that does not meet the definition of the two proceeding categories.
It is the District's policy to first use restricted net resources prior to the use prior to the use of unrestricted net
resources when an expense is incurred for purposes for which both restricted and unrestricted net resources are
available.
25
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 2. Cash and Investments
Custodial Credit Risk – Deposits
Custodial credit risk is the risk that in the event of a bank failure, the District's deposits may not be returned to
it. The District's bank balances of $1,244,025 with a carrying amount of $444,641 were fully collateralized as of
June 30, 2022.
Investments and Fair Value Measurements
The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation
techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in
active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3).
The three levels of the fair value hierarchy under FASB ASC 820 are described as follows:
Level One - Inputs to the valuation methodology are unadjusted quoted prices for identical assets or
liabilities in active markets that the District has the ability to access.
Level Two - Inputs to the valuation methodology include:
quoted prices for similar assets or liabilities in active markets;
quoted prices for identical or similar assets or liabilities in inactive markets;
inputs other than quoted prices that are observable for the asset or liability;
inputs that are derived principally from or corroborated by observable market data by
correlation or other means.
If the asset or liability has a specified (contractual) term, the level two input must be observable for
substantially the full term of the asset or liability.
Level Three - Inputs to the valuation methodology are unobservable and significant to the fair value
measurement.
Net Asset Value (NAV) - Certain investments measured at NAV would be excluded from the fair value
hierarchy.
The asset or liability's fair value measurement level within the fair value hierarchy is based on the lowest level
of any input that is significant to the fair value measurement. Valuation techniques maximize the use irrelevant
observable inputs and minimize the use of unobservable inputs.
26
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 2. Cash and Investments (Continued)
As of June 30, 2022 the District had the following investments measured at net asset value:
Fair Value Less than 1 1 - 5
Percent of
Portfolio
Applicable
Agency Rating
Illinois School District Liquid
Asset Fund (ISDLAF)$19,555,789 $19,555,789 $-%77.0 AAAm
Illinois School District Max Fund 287,040 287,040 -1.1 AAAm
Certificates of deposit 4,264,232 2,385,246 1,878,986 16.8 N/A
U.S Treasury Securities 477,480 -477,480 1.9 Aaa
U.S. Agency Securities
Federal Home Loan Banks
(FHLB)821,407 -821,407 3.2 Aaa
Total $25,405,948 $22,228,075 $3,177,873 %100.00
The District has the following recurring fair value measurements as of June 30, 2022:
The Illinois School District Liquid Asset Fund Plus (ISDLAF +) is an investment pool created and regulated by the
Illinois General Assembly. The fair value of the District's investment in ISDLAF+ has been determined using the net
asset value (NAV) per share (or its equivalent) of the investments. The NAV of the Liquid Class and Max Class are
determined as of the close of business on each Illinois banking day. The Multi-Class Series invests in high quality
short-term debt instruments (money market instruments), and shares may be redeemed on any Illinois banking
day. The Term Series invest in high-quality debt instruments, which are generally money market instruments but
may not include instruments with a maturity over one year, and shares may be redeemed with seven days'
advance notice. There were no known restrictions on redemption of the District's investments as of June 30,
2022.
Certificates of deposit, debt issues, U.S. government agency obligations, and U.S. Treasury notes - valued using
pricing models maximizing the use of observable inputs for similar securities. This includes basing value on yield
currently available on comparable securities of issuers with similar credit ratings.
Interest Rate Risk: In the District's formal investment policy, there are no specific limitations on investment
maturities in order to manage exposure to fair market losses from increasing interest rates.
Credit Risk is the risk that an issuer or other counterparty to an investment will not fulfill its obligations. The
District's investment policy allows for investment vehicles authorized by Illinois Statutes. Illinois Statutes
authorize the District to make deposits in commercial banks and savings and loan institutions, and to invest in
obligations of the U.S. Treasury and U.S. agencies, obligations of the states and their political subdivisions,
credit union shares, repurchase agreements, commercial paper rated within the three highest classifications by
at lease two standard rating services.
Concentration of Credit Risk: The District places no limit on the amount the District may invest in any one
issuer. More than 5% of the District's investments are in ISDLAF Max Class for 77.0% and Certificates of Deposit
for 16.8%.
27
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 3. Special Tax Levies
Revenues from the Special Education special tax levy and related expenditures have been included in the
operations of the Educational Account of the General Fund. At June 30, 2022, the cumulative Special
Education expenditures were equal to or exceeded related cumulative revenues in the Educational Account.
Accordingly, no restriction is made in the Educational Account of the General Fund related to this special
levy.
Note 4. Capital Assets
A summary of changes in capital assets follows:
Govermental Activities
Balance
6/30/2021 Additions Deletions
Balance
06/30/22
Capital assets, being depreciated:
Building and Improvements $27,923,306 $244,594 $(38,500)$28,129,400
Equipment 1,954,719 101,319 (32,500)2,023,538
Total capital assets, being depreciated 29,878,025 345,913 (71,000)30,152,938
Accumulated depreciation for:
Building and Improvements 16,279,423 805,673 (38,500)17,046,596
Equipment 1,448,436 144,852 (30,333)1,562,955
Total accumulated depreciation $17,727,859 $950,525 $(68,833)$18,609,551
Total capital assets, being depreciated, net 12,150,166 (604,612)(2,167)11,543,387
Govermental activities capital assets, net $12,150,166 $(604,612)$(2,167)$11,543,387
Depreciation expense was charged to functions of the District as follows:
Instructional Services
Regular programs $692,879
Special programs 9,780
Supporting Services
District Administration 97,787
Instruction 1,304
Central 1,333
Operations and maintenance of facilities 147,442
Total depreciation expense $950,525
28
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 5. Long-Term Debt
The following is a summary of changes in long-term liabilities of the District for the year ended June 30, 2022:
Balance
6/30/2021 Additions Reductions
Balance
06/30/22
Amounts Due
in One Year
General Obligation Refunding
Bonds $2,740,000 $-$(340,000)$2,400,000 $355,000
Lease 42,712 -(20,877)21,835 21,835
Deferred Amounts for Issuance
Premium 144,565 -(20,873)123,692 -
Net Pension Liability (Asset) -
Illinois Municipal Retirement 871,422 -(1,064,322)(192,900)-
Net Pension Liability -TRS 837,030 -(23,033)813,997 -
Net OPEB Liability -THIS Fund 4,284,656 3,123,677 -7,408,333 -
Net OPEB Liability -Retiree
Health Plan 524,357 -(30,062)494,295 -
Total $9,444,742 $3,123,677 $(1,159,167)$11,069,252 $376,835
Long-term liabilities payable at June 30, 2022 are comprised of the following:
Bonds Payable
General Obligation Refunding School Bonds, Series 2019A dated October 15, 2019, issued in the amount of
$950,000 payable in annual installments varying from $220,000 to $250,000 through November 1, 2023; interest
payments at a rate of 4.00% are due on May 1 and November 1.
General Obligation Limited Tax School Bonds, Series 2019B dated October 15, 2019, issued in the amount of
$2,125,000 payable in annual installments varying from $50,000 to $190,000 through November 1, 2035; interest
payments at a rate of 3.0% are due on May 1 and November 1.
29
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 5. Long-Term Debt (Continued)
Lease Obligations
The District has entered into lease obligations for the purchase of equipment. Capital obligations outstanding as of
June 30, 2022 include:
Leased Asset
Implementation/
Commencement Termination Interest Rate
Initial
Liability
6/30/2022
Liability
Due Within
One Year
21 Copiers 06/27/2018 06/27/2023 4.50%$100,000 $21,835 $21,835
$21,835 $21,835
The annual requirements to amortize all debt outstanding as of June 30, 2022, including interest payments of
$444,135 are as follows:
Year Ended June 30, 2022 Bond Principal Bond Interest
Lease
Principle Lease Interest Total
2023 $355,000 $70,125 $21,835 $535 $447,495
2024 330,000 57,500 --387,500
2025 115,000 49,725 --164,725
2026 125,000 46,125 --171,125
2027 130,000 42,300 --172,300
Thereafter 1,345,000 177,825 --1,522,825
Total $2,400,000 $443,600 $21,835 $535 $2,865,970
The Illinois Complied Statutes limits the amount of bond indebtedness to 6.9% of the most recent available
equalized assessed valuation of the District. As of June 30, 2022, the statutory debt limit for the District was
$43,168,916, providing a debt margin of $40,857,871.
Payments to retire bonds payable will be made from debt service levies in future periods. There is $110,790 of
fund equity available in the Debt Service Fund to service outstanding bonds payable.
The net pension liabilities, net other postemployment benefit obligations and capital lease obligations are typically
liquidated using funds from the General Fund and the Municipal Retirement/Social Security Fund.
Note 6. Employee Retirement Systems
The retirement plans of the District include the Teachers’ Retirement System of the State of Illinois (TRS) and the
Illinois Municipal Retirement Fund (IMRF). Most funding for TRS is provided through payroll withholdings of
certified employees and contributions made by the State of Illinois on-behalf of the District. IMRF is funded
through property taxes and a perpetual lien of the District’s corporate personal property replacement tax. Each
retirement system is discussed below.
30
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 6. Employee Retirement Systems (Continued)
Teachers’ Retirement System of the State of Illinois (TRS)
Plan Description
The District participates in the TRS. TRS is a cost-sharing, multiple-employer defined benefit pension plan that was
created by the Illinois legislature for the benefit of Illinois public school teachers employed outside the City of
Chicago.
TRS members include all active non-annuitants who are employed by a TRS-covered employer to provide services
for which teacher licensure is required. The Illinois Pension Code outlines the benefit provisions of TRS, and
amendments to the plan can be made only by legislative action with the Governor’s approval. The TRS Board of
Trustees is responsible for the System’s administration.
TRS issues a publicly available financial report that can be obtained at
https://www.trsil.org/financial/acfrs/fy2021; by writing to TRS at 2815 W. Washington, PO Box 19253, Springfield,
IL 62794; or by calling (888) 678-3675, option 2.
Benefits Provided
TRS provides retirement, disability, and death benefits. Tier I members have TRS or reciprocal system service prior
to January 1, 2011. Tier I members qualify for retirement benefits at age 62 with five years of service, at age 60
with 10 years, or age 55 with 20 years. The benefit is determined by the average of the four highest consecutive
years of creditable earnings within the last 10 years of creditable service and the percentage of average salary to
which the member is entitled. Most members retire under a formula that provides 2.2 percent of final average
salary up to a maximum of 75 percent with 34 years of service.
31
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 6. Employee Retirement Systems (Continued)
Tier II members qualify for retirement benefits at age 67 with 10 years of service, or a discounted annuity can be
paid at age 62 with 10 years of service. Creditable earnings for retirement purposes are capped and the final
average salary is based on the highest consecutive eight years of creditable service rather than the last four.
Disability provisions for Tier II are identical to those of Tier I. Death benefits are payable under a formula that is
different from Tier I.
Essentially all Tier I retirees receive an annual 3 percent increase in the current retirement benefit beginning
January 1 following the attainment of age 61 or on January 1 following the member’s first anniversary in
retirement, whichever is later. Tier II annual increases will be the lesser of three percent of the original benefit or
one-half percent of the rate of inflation beginning January 1 following attainment of age 67 or on January 1
following the member’s first anniversary in retirement, whichever is later.
Public Act 100-0023, enacted in 2017, creates an optional Tier III hybrid retirement plan, but it has not yet gone
into effect. Public Act 100-0587, enacted in 2018, requires TRS to offer two temporary benefit buyout programs
that expire on June 30, 2024. One program allows retiring Tier 1 members to receive a partial lump-sum in
exchange for accepting a lower, delayed annual increase. The other allows inactive vested Tier 1 and 2 members
to receive a partial lump-sum payment in lieu of a retirement annuity. Both programs will begin in 2019 and will
be funded by bonds issued by the state of Illinois.
Contributions
The state of Illinois maintains the primary responsibility for funding TRS. The Illinois Pension Code, as amended by
Public Act 88-0593 and subsequent acts, provides that for years 2010 through 2045, the minimum contribution to
the System for each fiscal year shall be an amount determined to be sufficient to bring the total assets of the
System up to 90% of the total actuarial liabilities of the System by the end of fiscal year 2045.
Contributions from active members and TRS contributing employers are also required by the Illinois Pension Code.
The contribution rates are specified in the pension code. The active member contribution rate for the year ended
June 30, 2021, was 9.0% of creditable earnings. The member contribution, which may be paid on behalf of
employees by the employer, is submitted to TRS by the employer.
On-behalf contributions to TRS. The State of Illinois makes employer pension contributions on-behalf of the
District. For the year ended June 30, 2022, State of Illinois contributions recognized by the District were based on
the State’s proportionate share of the pension expense associated with the District, and the District recognized
revenue and expenditures of $4,394,471 in pension contributions from the State of Illinois.
2.2 formula contributions. The District contributes 0.58% of total creditable earnings for the 2.2 formula change.
This rate is specified by statute. Contributions for the year ended June 30, 2022 were $50,774, and are deferred
because they were paid after the June 30, 2021 measurement date.
Federal and special trust fund contributions. When TRS members are paid from federal and special trust funds
administered by the District, there is a statutory requirement for the District to pay an employer pension
contribution from those funds. Under Public Act 100-0340, the federal and special trust fund contribution rate is
the total employer normal cost beginning with the year ended June 30, 2018.
32
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 6. Employee Retirement Systems (Continued)
Previously, employer contributions for employees paid from federal and special trust funds were at the same rate
as the state contribution rate to TRS and were much higher.
For the year ended June 30, 2022, the employer pension contribution was 10.31% of salaries paid from federal
and special trust funds. For the year ended June 30, 2022, $105,388 of salaries were paid from the federal and
special trust funds and there $10,866 was the required employer contributions. These contributions are deferred
because they were paid after the June 30, 2021 measurement date.
Employer retirement cost contributions. Under GASB Statement No. 68, contributions that an employer is
required to pay because of a TRS member retiring are categorized as specific liability payments. The District is
required to make a one-time contribution to TRS for members granted salary increases over 6 percent if those
salaries are used to calculate a retiree’s final average salary.
A one-time contribution is also required for members granted sick leave days in excess of the normal annual
allotment if those days are used as TRS service credit. For the year ended June 30, 2022, the District did not make
any payments for salary increases over 6 percent, salary increases over 3 percent, or excess sick leave
contributions.
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to Pensions
At June 30, 2021 the District reported a liability for its proportionate share of the net pension liability (first
amount shown below) that reflected a reduction for State pension support provided to the District. The State’s
support and total are for disclosure purposes only. The amount recognized by the District as its proportionate
share of the net pension liability, the related State support, and the total portion of the net pension liability that
was associated with the District were as follows:
District's proportionate share of the net Pension liability $813,997
State's proportionate share of the net pension liability associated with the District 68,221,573
Total $69,035,570
The net pension liability was measured as of June 30, 2021, and the total pension liability used to calculate the net
pension liability was determined by an actuarial valuation as of June 30, 2021. The employer’s proportion of the
net pension liability was based on the employer’s share of contributions to TRS for the measurement year ended
June 30, 2021, relative to the contributions of all participating TRS employers and the state during that period. At
June 30, 2021, the employer’s proportion was 0.001043%, which was an increase of 0.000011% from its
proportion measured as of June 30, 2020.
33
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 6. Employee Retirement Systems (Continued)
For the year ended June 30, 2022, the District recognized pension expense of $4,893,259 and revenue of
$4,893,259 for support provided by the state. At June 30, 2022, the District had deferred outflows of resources
and deferred inflows of resources related to pensions from the following sources, which are not reported due to
the regulatroy basis of accounting:
Deferred
Outflows of
Resources
Deferred
Inflow of
Resources
Difference between expected and actual experience $4,670 $3,356
Changes in assumptions 361 4,022
Net difference between projected and actual earnings in pension plan
investments -54,600
Changes in proportion and differences between District contributions and
proportionate share of contributions 19,722 295,760
Total deferred amounts to be recognized in pension expense in future periods 24,753 357,738
District's contributions subsequent to the measurement date 61,640 -
Total $86,393 $357,738
$61,640 reported as deferred outflows of resources related to pensions resulting from District contributions
subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year
ended June 30, 2023. Other amounts reported as deferred outflows of resources and deferred inflows of
resources related to pensions will be recognized in pension expense as follows:
Year Ending June 30
Net Deferred
Outflows (Inflows)
of Resources
2023 $(172,983)
2024 (108,719)
2025 (30,385)
2026 (21,300)
2027 402
Total $(332,985)
34
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 6. Employee Retirement Systems (Continued)
Actuarial Assumptions
The total pension liability in the June 30, 2021 actuarial valuation was determined using the following actuarial
assumptions, applied to all periods included in the measurement:
Inflation 2.25%
Salary increases varies by amount of service credit
Investment rate of return 7.00% net of pension plan investment expense, including inflation
In the June 30, 2021 actuarial valuation, mortality rates were based on the PubT-2010 Table with appropriate
adjustments for TRS experience. The rates are based on a fully-generational basis using projection table MP-2020.
In the June 30, 2020 actuarial valuation, mortality rates were also based on the RP-2014 White Collar Table with
appropriate adjustments for TRS experience. The rates were used on a fully-generational basis using projection
table MP-2017.
The long-term (20-year) expected rate of return on pension plan investments was determined using a building-
block method in which best-estimate ranges of expected future real rates of return (expected returns, net of
pension plan investment expense and inflation) are developed for each major asset class. These ranges are
combined to produce the long-term expected rate of return by weighting the expected future real rates of return
by the target asset allocation percentage and by adding expected inflation. The target allocation and best
estimates of arithmetic real rates of return for each major asset class that were used by the actuary are
summarized in the following table:
Asset Class
Target
Allocation
Long-Term
Expected Real
Rate of Return
U.S. equities large cap %16.7 %6.2
U.S. equities small/mid cap %2.2 %7.4
International equities developed %10.6 %6.9
Emerging market equities %4.5 %9.2
U.S. bonds core %3.0 %1.6
Cash Equivalents %2.0 %0.1
International debt developed %1.0 %0.8
TIPS %1.0 %0.4
Emerging international debt %4.0 %4.4
Real estate %16.0 %5.8
Private Debt %10.0 %6.5
Hedge funds (absolute return)%10.0 %3.9
Private Equity %15.0 %10.4
Infrastructure %4.0 %6.3
Total %100.0
35
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 6. Employee Retirement Systems (Continued)
Discount Rate
At June 30, 2021, the discount rate used to measure the total pension liability was 7.0%, which was the same as
the June 30, 2020 rate. The projection of cash flows used to determine the discount rate assumed that employee
contributions, employer contributions, and State contributions will be made at the current statutorily-required
rates.
Based on those assumptions, TRS’s fiduciary net position at June 30, 2021 was projected to be available to make
all projected future benefit payments of current active and inactive members and all benefit recipients. Tier I’s
liability is partially funded by Tier II members, as the Tier II member contribution is higher than the cost of Tier II
benefits. Due to this subsidy, contributions from future members in excess of the service cost are also included in
the determination of the discount rate. All projected future payments were covered, so the long-term expected
rate of return on TRS investments was applied to all periods of projected benefit payments to determine the total
pension liability.
Sensitivity of the Employer’s Proportionate Share of the Net Pension Liability to Changes in the Discount Rate
The following presents the District's proportionate share of the net pension liability calculated using the discount
rate of 7.00%, as well as what the District's proportionate share of the net OPEB liability would be if it were
calculated using a discount rate that is 1-percentage-point lower (6.00%) or 1-percentage-point higher (8.00%)
than the current rate:)
1% Decrease
(6.00%)
Current
Discount Rate
(7.00%)
1% Increase
(8.00%)
District's proportionate share of the net Pension liability $1,008,118 $813,997 $652,753
Detailed information about the TRS’s fiduciary net position as of June 30, 2022 is available in the separately issued
TRS Comprehensive Annual Financial Report.
b.Illinois Municipal Retirement Fund (IMRF)
Plan Description and Benefits
Plan description – The District’s defined benefit pension plan for regular employees provides retirement and
disability benefits, post-retirement increases, and death benefits to plan members and beneficiaries. The
employer’s plan is managed by the Illinois Municipal Retirement Fund (IMRF), the administrator of an agent 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
Annual Comprehensive 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.
36
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 6. Employee Retirement Systems (Continued)
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 10 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.
Employees hired on or after January 1, 2011, are eligible for Tier 2 benefits. For Tier 2 employees, pension
benefits vest after ten years of service. Participating employees who retire at age 62 (at reduced benefits) or
after age 67 (at full benefits) with ten years of service are entitled to an annual retirement benefit, payable
monthly for life, in an amount equal to 1-2/3% of the final rate of earnings for the first 15 years of service credit,
plus 2% for each year of service credit after 15 years to a maximum of 75% of their final rate of earnings. Final
rate of earnings is the highest total earnings during any 96 consecutive months within the last 10 years of
service, divided by 96. Under Tier 2, the pension is increased on January 1 every year after retirement, upon
reaching age 67, by the lesser of:
3% of the original pension amount, or
1/2 of the increase in the Consumer Price Index of the original pension amount.
Employees Covered by the Benefit Terms - At the December 31, 2021 valuation date, the following employees
were covered by the benefit terms:
Inactive employees or beneficiaries currently receiving benefits 133
Inactive employees entitled to but not yet receiving benefits 517
Active employees 65
Total 715
Contributions - As set by statute, the employer’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 employer’s annual contribution rate
for calendar year 2021 was 14.00%. For the fiscal year ended June 30, 2022, the employer contributed $273,177
to the plan. The employer 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.
37
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 6. Employee Retirement Systems (Continued)
Net Pension Liability - The employer’s Net Pension Liability was measured as of December 31, 2021, and the total
pension liability used to calculate the Net Pension Liability was determined by an annual actuarial valuation as of
that date.
Actuarial assumptions – The following are the methods and assumptions used to determine total pension liability
at December 31, 2021:
Actuarial cost method Entry Age Normal
Asset valuation method Market Value of Assets
Inflation 2.25%
Salary increases 2.85% to 13.75%, including inflation
Investment rate of return 7.25%
Retirement age Experience-based table of rates that are specific to the type of eligibility
condition. Last updated for the 2020 valuation pursuant to an experience
study of the period 2017-2019.
Mortality 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. For
disabled retirees, the Pub-2010, Amount-Weighted, below-median income,
General, Disabled Retiree, Male and Female (both unadjusted) tables, and
future mortality improvements prokected using scale MP-2020. 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.
Other information: Notes There were no benefit changes during the year.
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, 2021:
Asset Class
Target
Allocation
Long-Term
Expected Real
Rate of Return
Equities %39.0 %1.90
International equities %15.0 %3.15
Fixed income %25.0 %(0.60)
Real estate %10.0 %3.30
Alternatives %10.0 1.70-5.50 %
Cash %1.0 %(0.90)
Total %100.0
38
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 6. Employee Retirement Systems (Continued)
Single Discount Rate
A Single Discount Rate of 7.25% was used to measure the total pension liability. 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:
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
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 the most recent valuation, the expected rate of return on plan investments is 7.25%, the
municipal bond rate is 1.84%, and the resulting single discount rate is 7.25%.
Sensitivity of the District’s proportionate share of the net pension liability to changes in the discount rate - The
following presents the plan’s net pension liability, calculated using the single discount rate of 7.25 percent, 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:
1% Decrease
(6.25%)
Current
Discount Rate
(7.25%)
1% Increase
(8.25%)
Net pension liability $1,197,999 $(192,900)$(1,352,673)
39
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 6. Employee Retirement Systems (Continued)
Changes in Net Pension Liability
Total Pension
Liability
(A)
Plan Fiduciary
Net Position
(B)
Net Pension
Liability
(A) - (B)
Balances at December 31, 2020 $13,571,682 $12,700,259 $871,423
Changes for the year:
Service cost 183,706 -183,706
Interest on the total Pension liability 961,544 -961,544
Differences between expected and actual experience of the
total pension liability 378,142 -378,142
Contributions - employer -270,981 (270,981)
Contributions - employees -93,257 (93,257)
Net investment income -2,142,610 (2,142,610)
Benefit payments, including refunds of employee
contributions (801,712) (801,712)-
Other (net transfer)-80,867 (80,867)
Net changes 721,680 1,786,003 (1,064,323)
Balances at December 31, 2021 $14,293,362 $14,486,262 $(192,900)
Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions -
For year ended June 30, 2022, the District recognized pension income of $95,390. At June 30, 2022, the District
reported deferred outflows of resources and deferred inflows of resources related to pensions from the following
sources which are not reported due to the financial reporting provisions of the Illinois State Board of Education.
Deferred
Outflows of
Resources
Deferred
Inflow of
Resources
Net difference between projected and actual earnings on pension plan
investments $-$1,607,502
Total deferred amounts to be recognized in pension expense in future periods -1,607,502
District's contributions subsequent to the measurement date 141,994 -
Total $141,994 $1,607,502
40
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 6. Employee Retirement Systems (Continued)
$141,994 reported as deferred outflows of resources related to pensions resulting from District contributions
subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year
ended June 30, 2023. Other amounts reported as deferred outflows of resources and deferred inflows of
resources related to pensions will be recognized in pension expense as follows:
Year Ending June 30
Net Deferred
Outflows
(Inflows) of
Resources
2023 $(354,952)
2024 (608,846)
2025 (396,752)
2026 (246,952)
Total $(1,607,502)
Aggregate Pension Amounts - At June 30, 2022, the District reported the following from all pension plans:
TRS IMRF Total
Net pension liability/(asset)$813,997 $(192,900)$621,097
Deferred outflows of resources 86,393 141,994 228,387
Deferred inflows of resources 357,738 1,607,502 1,965,240
Pension expense (income)4,893,259 (95,390)4,797,869
Note 7. Other Postemployment Benefits
Plan Description. The District participates in the THIS. The THIS is a cost-sharing, multiple-employer defined
a. Teacher Health Insurance Security (THIS)
Plan Description. The District participates in the THIS. The THIS is a cost-sharing, multiple-employer defined
benefit post-employment healthcare plan (OPEB) that was established by the Illinois legislature for the benefit of
Illinois public school teachers employed outside the City of Chicago. THIS members are retirees of public schools
who were certified educators or administrators. Eligibility is currently limited to former full-time employees, and
others who were not full-time employees that meet certain requirements, and their dependents. The State
Employees Group Insurance Act of 1971 (5 ILCS 375/6.5) (SEGIA) establishes the eligibility and benefit provisions
of the plan.
The THIS issues a publicly available financial report that can be obtained at the website of the Illinois Auditor
General: https://www.auditor.illinois.gov/Audit-Report/ABC-List.asp. The current reports are listed under “Central
Management Services”; prior reports are available under “Healthcare and Family Services”.
41
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 7. Other Postemployment Benefits (Continued)
Benefits Provided
The THIS Fund provides medical, prescription, and behavioral health benefits, but it does not provide vision,
dental or life insurance benefits to annuitants of the Teachers’ Retirement System (TRS). Annuitants not enrolled
in Medicare may participate in the state administered participating provider option plan or choose from several
managed care options. Annuitants who were enrolled in Medicare Parts A and B may be eligible to enroll in
Medicare Advantage Plans.
Amendments to the plan can be made only by legislative action with the Governor’s approval. Effective July 1,
2012, in accordance with Executive Order 12-01, the plan is administered by the Illinois Department of Central
Management Services (CMS) with the cooperation of TRS.
Contributions
The SEGIA requires that all active contributors to the TRS, who are not employees of a department, make
contributions to the plan at a rate of 0.90% of salary and for every employer of a teacher to contribute an amount
equal to 0.67% of each teacher’s salary. Additionally, the SEGIA requires the State to match the employees’
contribution on-behalf of the employer. The Department determines, by rule, the percentage required, which
each year shall not exceed 105% of the percentage of salary actually required to be paid in the previous fiscal year.
In addition, under the State Pension Funds Continuing Appropriations Act (40 ILCS 15/1.3), there is appropriated,
on a continuing annual basis, from the General Revenue Fund, an account of the General Fund, to the State
Comptroller for deposit in the THIS, an amount equal to the amount certified by the Board of Trustees of TRS as
the estimated total amount of contributions to be paid under 5 ILCS 376/6.6(a) in that fiscal year.
The SEGIA requires that the Department’s Director determine the rates and premiums of annuitants and
dependent beneficiaries and establish the cost-sharing parameters, as well as funding. Member premiums are set
by this statute, which provides for a subsidy of either 50% or 75%, depending upon member benefit choices.
Dependents are eligible for coverage, at a rate of 100% of the cost of coverage.
On-behalf contributions to THIS. The state of Illinois makes employer retiree health insurance contributions on
behalf of the District. State contributions are intended to match contributions to THIS Fund from active members
which were 0.90% of pay during the year ended June 30, 2022. In the government-wide financial statements, the
State of Illinois contributions also include a proportional allocation of the State's OPEB expense (based on the
portion of the District's share of the expense compared to all School Districts in aggregate.) For the year ended
June 30, 2022, the District recognized OPEB expense of $(139,009) in the governmental activities based on the
economic resources measurement focus and revenues and expenditures in the amount of $78,788 in the General
Fund based on the current financial resources measurement focus for the State of Illinois contributions on behald
of the District.
Employer contributions to THIS Fund. The District also makes contributions to THIS Fund. The District THIS Fund
contribution was 0.67% during the year ended June 30, 2022. For the year ended June 30, 2022, the District paid
$58,653 to the THIS Fund, which was 100 percent of the required contribution.
42
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 7. Other Postemployment Benefits (Continued)
OPEB Liabilities, OPEB Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to
OPEB
At June 30, 2022, the District's reported a liability for its proportionate share of the net OPEB liability. The State’s
support and total are for disclosure purposes only. The amount recognized by the District as its proportionate
share of the net OPEB liability, the related State support, and the total portion of the net OPEB liability that was
associated with the District were as follows:
District's proportionate share of the net OPEB liability $7,408,333
State's proportionate share of the net OPEB liability associated with the District 10,044,619
Total $17,452,952
The net OPEB liability was measured as of June 30, 2021, and the total OPEB liability used to calculate the net
OPEB liability was determined by an actuarial valuation as of June 30, 2020 and rolled forward to June 30, 2021.
The District's proportion of the net OPEB liability was based on the District’s share of contributions to TRS for the
measurement year ended June 30, 2021, relative to the projected contributions of all participating TRS employers
and the state during that period. At June 30, 2021, the District’s proportion was 0.033590%, which was an
increase of 0.017564% from its proportion measured as of June 30, 2020.
At June 30, 2022, the District reported deferred outflows of resources and deferred inflows of resources related to
OPEB from the following sources:
Deferred
Outflows of
Resources
Deferred
Inflow of
Resources
Difference between expected and actual experience $-$346,553
Changes in assumptions 2,558 2,774,087
Net difference between projected and actual earnings in OPEB plan investments -25
Changes in proportion and differences between District contributions and
proportionate share of contributions 8,681,180 9,274,522
Total deferred amounts to be recognized in OPEB expense in future periods 8,683,738 12,395,187
District's contributions subsequent to the measurement date 58,653 -
Total $8,742,391 $12,395,187
43
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 7. Other Postemployment Benefits (Continued)
$58,653 reported as deferred outflows of resources related to OPEB resulting from District contributions
subsequent to the measurement date will be recognized as a reduction of the net OPEB liability in the year ended
June 30, 2023. Other amounts reported as deferred outflows of resources and deferred inflows of resources
related to OPEB will be recognized in OPEB expense as follows:
Year Ending June 30
Net Deferred
Inflows of
Resources
2023 $(683,189)
2024 (683,139)
2025 (632,634)
2026 (490,145)
2027 (413,561)
2028 (885,856)
2029 (65,838)
2030 142,913
Total $(3,711,449)
Actuarial Valuation Method
The actuarial valuation was based on the Entry Age Normal cost method. Under this method, the normal cost and
actuarial accrued liability are directly proportional to the employee’s salary. The normal cost rate equals the
present value of future benefits at entry age divided by the present value of future salary at entry age. The normal
cost at the member’s attained age equals the normal cost rate at entry age multiplied by the salary at attained
age. The actuarial accrued liability equals the present value of benefits at attained age less present value of future
salaries at attained age multiplied by normal cost rate at entry age.
44
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 7. Other Postemployment Benefits (Continued)
Actuarial Assumptions.
The total OPEB liability in the June 30, 2021 actuarial valuation was determined using the following actuarial
assumptions, applied to all periods included in the measurement:
Inflation 2.50%
Salary increases Depends on service and ranges from 9.50% at 1 year of service to 4.00% at 20 or
more years of service. Salary increase includes a 3.25% wage inflation
assumption
Investment rate of return 2.75%, net of OPEB plan investment expense, including inflation, for all plan
years
Healthcare cost trend rates Trend for fiscal year 2022 based on expected increases used to develop average
costs. For fiscal years after 2023, trend starts at 8.00% for non-Medicare costs
and Medicare costs, and gradually decreases to an ultimate trend of 4.25%.
Mortality rates for retirement and beneficiary annuitants were based on the RP-2014 White Collar Annuitant
Mortality Table, adjusted for TRS experience. For disabled annuitants mortality rates were based on the RP-
Disabled Annuitant table. Mortality rates for pre-retirement were based on the RP-2014 White Collar Table. All
tables reflect future mortality improvements using Projection Scale MP-2017.
The actuarial assumptions used in the June 30, 2020 valuation were based on the results of an actuarial
experience study for the period July 1, 2014 through June 30, 2017.
Discount Rate
Projected benefit payments were discounted to their actuarial present value using a Single Discount Rate that
reflects (1) a long-term expected rate of return on OPEB plan investments (to the extent that the plan’s fiduciary
net position is projected to be sufficient to pay benefits), and (2) tax-exempt municipal bond rate based on an
index of 20-year general obligation bond with an average AA credit rating as of the measurement date (to the
extent that the contributions for use with the long-term expected rate of return are not met). Since the THIS is
financed on a pay-as-you-go basis, a discount rate consistent with the 20-year general obligation bond index has
been selected. The discount rates are 1.92% as of June 30, 2021, and 2.45% as of June 30, 2020. The decrease in
the single discount rate from 2.45% to 1.92% caused the total OPEB liability to increase by approximately $1,965
million from 2020 to 2021.
45
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 7. Other Postemployment Benefits (Continued)
Sensitivity of the Employer’s Proportionate Share of the Net OPEB Liability to Changes in the Discount Rate and
Healthcare Cost Trend Rate
The following presents the District's proportionate share of the net OPEB liability calculated using the discount
rate of 1.92%, as well as what the District's proportionate share of the net OPEB liability would be if it were
calculated using a discount rate that is 1-percentage-point lower (0.92%) or 1-percentage-point higher (2.92%)
than the current rate:
1% Decrease
0.92%
Current
Discount Rate
1.92%
1% Increase
2.92%
District's proportionate share of the net OPEB liability $8,899,590 $7,408,333 $6,226,310
The following presents the District's proportionate share of the net OPEB liability would be if it were calculated
using the healthcare cost trend rate, as well as what the District's proportionate share of the net 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 rate. They key trend rates are 8.00% in 2023 decreasing to an ultimate trend rate of 4.25% in
2038:
1% Decrease
(a)
Healthcare
Cost Trend
Rate
Assumptions
1% Increase
(b)
District's proportionate share of the net OPEB liability $5,930,744 $7,408,333 $9,415,530
a)One percentage point decrease in healthcare trend rates are 7.00% in 2023 decreasing to an ultimate trend
rate of 3.25% in 2038.
b)One percentage point increase in healthcare trend rates are 9.00% in 2023 decreasing to an ultimate trend
rate of 5.25% in 2038.
46
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 7. Other Postemployment Benefits (Continued)
b. Defined Post-Employment Benefit Plan
Plan Description:
The District administers a single-employer defined benefit healthcare plan (the “Postretirement Medical Plan”).
Eligible administrators that retire from the District may continue their health care coverage for up to ten years,
depending on length of service, with the Board paying the monthly premium. IMRF employees that retire from
the District may elect to continue their health coverage by paying the monthly premium. The District subsidize a
portion of the cost for hospital and medical coverage for retired IMRF employees and their dependents. The
subsidy is an implied age related cost differential based upon the expected higher cost of coverage for retired
employees versus the average cost for the entire group. The District also reimburses eligible retires's for a portion
of the cost of health coverage at established rates. Benefit provisions are established through contractual
agreements and may only be amended through negotiations with the Board. The plan does not issue a separate,
publicly available report. All insurance benefits cease when the retired employee begins receiving Medicare
coverage, or attains age 65, whichever comes first.
Eligibility
Employees are eligible upon retirement if enrolled in the active medical plan immediately prior to retiring.
The criteria for TRS retirement is as follows:
Tier 1 - Employees must be age 60 with at least 10 years of service, or age 62 with at least 5 years of
service
The criteria for IMRF retirement is as follows:
Age 55 and 8 years of service for those hired before January 1, 2011
Age 62 and 10 years of service for those hired on or after January 1, 2011
Employees Covered by Benefit Terms
As of June 30, 2022, the following employees were covered by the benefit terms:
Total active employees 155
Inactive employees currently receiving benefit payments
Inactive employees entitled to but not yet receiving benefit payments 10
Total 165
47
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 7. Other Postemployment Benefits (Continued)
Contributions
Contribution requirements are established through contractual agreements and may only be amended through
negotiations with the Board. The retiree is responsible for paying the full monthly premium. However, the
District provides a monthly reimbursement toward the premium cost at established rates. Monthly benefit to be
utilized for retiree health insurance premium are based upon the participant's date of retirement. The benefit for
participants who retired before 2010 is $240 per month. The benefit for participants who retired in or after 2010
is $250 per month.
Net OPEB Liability
The District’s net OPEB liability was measured as of June 30, 2021. The total OPEB liability used to calculate the net
OPEB liability was determined by an actuarial valuation as of July 1, 2020, which was rolled forward to July 1,
2021.
Plan Fiduciary Net Position
The District currently pays for postemployment health care benefits on a pay-as-you-go basis. Therefore, no trust
has been established for future costs, and no net position is held for postemployment health care obligations.
Actuarial Assumptions
The following are the methods and assumptions used to determine the total OPEB liability at June 30,2021:
Actuarial cost method Entry Age Cost
Inflation 2.50%
Payroll increases N/A
Investment rate of return N/A
Participation 100% of active employees are assumed to participate upon retirement.
Mortality Pub-2010 Public Retirement Plans General mortaliity table projected
generationally with scale MP-2021.
Other information: Notes Actual trend used for fiscal year 2019. For fiscal years on and after 2020, trend
starts at 6.00%, and gradually decreases to an ultimate trend of 5.00%.
Discount Rate
The District does not have a dedicated Trust to pay the benefits of the Plan. Per GASB 75, this discount rate is a
yield or index rate for 20-year, tax-exempt general obligation municipal bonds with an average rating of AA/Aa or
higher. Rates were taken from the Bond Buyer 20-Bond GO index as of the measurement dates.
48
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 7. Other Postemployment Benefits (Continued)
Changes in Net OPEB Liability
Total OPEB
Liability
(A)
Plan Fiduciary
Net Position
(B)
Net OPEB
Liability
(A) - (B)
Balances at June 30, 2021 $524,357 $-$524,357
Changes for the year:
Service cost 23,570 -23,570
Interest on the total OPEB liability 11,624 -11,624
Changes of assumptions (21,346)-(21,346)
Contributions - employer -43,910 43,910
Benefit payments, including refunds of employee
contributions (43,910)(43,910)-
Net changes (30,062)-(30,062)
Balances at June 30, 2022 $494,295 $-$494,295
Sensitivity of the Employer’s Proportionate Share of the Net Pension Liability to Changes in the Discount Rate
The following presents the District's proportionate share of the net pension liability calculated using the discount
rate of 2.16%, as well as what the District's proportionate share of the net pension liability would be if it were
calculated using a discount rate that is 1-percentage-point lower (1.16%) or 1-percentage-point higher (3.16%)
than the current rate:
1% Decrease
(1.16%)
Current
Discount Rate
(2.16%)
1% Increase
(3.16%)
Total OPEB liability $529,065 $494,295 $461,896
Sensitivity of the Net OPEB Liability to Changes in the Trend Rate
The actuarial valuation did not include a health care trend rate, yet assumed there would be no increase in benefit
level. Therefore, an estimation of what the net OPEB liability would be if it were calculated using a trend rate that
is 1% higher and lower is not applicable.
1% Decrease
Healthcare Cost
Trend Rate
Assumptions 1% Increase
Total OPEB liability $494,295 $494,295 $494,295
49
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 7. Other Postemployment Benefits (Continued)
OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB
For the year ended June 30, 2022, the District recognized OPEB expense of $39,990. At June 30, 2022, the District
reported $65,016 deferred outflows of resources and $(85,212) deferred inflows of resources related to OPEB.
The following represents the deferred outflows of resources related to OPEB:
Deferred
Outflows of
Resources
Deferred
Inflow of
Resources
Difference between expected and actual experience $-$58,099
Changes in assumptions 65,016 27,113
Total deferred amounts to be recognized in OPEB expense in future periods 65,016 85,212
Total $65,016 $85,212
The total deferred outflows related to OPEB will be recognized in future years as follows:
Net Deferred
Outflows
(Inflows) of
Resources
2023 $(8,927)
2024 2,497
2025 (1,490)
2026 (4,484)
2027 (4,482)
Thereafter (3,310)
Total $(20,196)
Note 8. Common Bank Account
Separate bank accounts are not maintained for all District funds; instead, certain funds maintain their
uninvested cash balances in a common checking account, with accounting records being maintained to show
the portion of the common bank account balance attributable to each participating fund.
Note 9. Risk Management
The District has purchased insurance from private insurance companies. Risks covered include general liability,
workers compensation and others. Premiums have been displayed as expenditures in appropriate funds. No
material decreases in insurance coverages have occurred nor have any insurance claims in excess of insurance
coverages been paid or reported during the last three years.
50
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 10. Risk Pool - Collective Liability Insurance Cooperative (CLIC)
The District is a member of CLIC, which has been formed to provide casualty, property, liability and workers'
compensation protections and to administer some or all insurance coverages and protection other than health,
life and accident coverages procured by the member districts. It is intended, by the creation of CLIC to allow a
member District to equalize annual fluctuations in insurance costs by establishing a program whereby reserves
may be created and temporary deficits of individual Districts covered and to ultimately equalize the risks and
stabilize the costs of providing casualty, property and liability protections. If, during any fiscal year, the funds on
hand in the account of CLIC are not sufficient to pay expenses of administration, the Board of Directors shall
require supplementary payment from all members. Such payment shall be made in the same proportion as prior
payments during that year to CUC.
Complete financial statements for CLIC can be obtained from its administrator at 1441 Lake Street, Libertyville,
Illinois 60048.
Note 11. Joint Agreements
The District and seven other districts within DuPage County have entered into a joint agreement to provide special
education programs and services to the student enrolled. Each member district has a financial responsibility for
annual and special assessments as established by the policy board.
Complete financial statement for North DuPage Special Education Cooperative (NDSEC) can be obtained from its
Treasurer at 132 E. Pine Avenue, Roselle, Illinois, 60172.
Note 12. Restricted Net Position
The government-wide statement of net position reports $2,560,667 of restricted net position, all of which is
restricted by enabling legislation.
Note 13. Fund Balances - Governmental Funds
According to Government Accounting Standards, fund balances are to be classified into five major classifications;
Nonspendable Fund Balance, Restricted Fund Balance, Committed Fund Balance, Assigned Fund Balance, and
Unassigned Fund Balance.
Nonspendable Fund Balance
The nonspendable fund balance classification includes amounts that cannot be spent because they are either (a)
not in spendable form or (b) legally or contractually required to be maintained intact. The “not in spendable form”
criterion includes items that are not expected to be converted to cash, for example inventories and prepaid
amounts.
51
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 13. Fund Balances - Governmental Funds (Continued)
Restricted Fund Balance
The restricted fund balance classification refers to amounts that are subject to outside restrictions, not controlled
by the entity. Things such as restrictions imposed by creditors, grantors, contributors, or laws and regulations of
other governments, or imposed by law through constitutional provisions or enabling legislation. Special Revenue
Funds are by definition restricted for those specified purposes. The District has several revenue sources received
within different funds that also fall into these categories.
1.Special Education - Revenues received and the related expenditures of this restricted tax levy are
accounted for in the Educational Account. Expenditures exceeded revenue for this purpose, resulting in no
restricted fund balance.
2.Tort Immunity Account - Expenditures disbursed and the related revenues received are accounted for in
the Tort Immunity Account.
3.State and Federal Grants - Proceeds from state and federal grants and the related expenditures have been
included in the General Fund and various Special Revenue Funds. At June 30, 2022, expenditures
exceeded revenue from state and federal grants, resulting in no restricted balances.
4.Capital Projects Funds - Expenditures and the related revenues received are accounted for in the Capital
Projects and Fire Prevention and Safety Funds. All equity within these funds are restricted for the
associated capital expenditures within these funds.
Committed Fund Balance
The committed fund balance classification refers to amounts that can only be used for specific purposes pursuant
to constraints imposed by formal action of the government’s highest level of decision making authority (the
School Board). Those committed amounts cannot be used for any other purpose unless the government removes
or changes the specified use by taking the same type of formal action it employed to previously commit those
amounts.
Assigned Fund Balance
The assigned fund balance classification refers to the amounts that are constrained by the government’s intent to
be used for a specific purpose, but are neither restricted nor committed. Intent should be expressed by (a) the
governing body itself or (b) a body (a budget or finance committee, for example) or official to which the governing
body has delegated the authority to assign amounts to be used for specific purposes.
Unassigned Fund Balance
The unassigned fund balance classification is the residual classification for amounts in the General Operating
Funds for amounts that have not been restricted, committed, or assigned to specific purposes within the General
Funds.
52
Bloomingdale School District No. 13
Notes to the Basic Financial Statements
Note 13. Fund Balances - Governmental Funds (Continued)
Expenditures of Fund Balance
Unless specifically identified, expenditures disbursed act to reduce restricted balances first, then committed
balances, next assigned balances, and finally act to reduce unassigned balances. Expenditures disbursed for a
specifically identified purpose will act to reduce the specific classification of fund balance that is identified.
As of June 30, 2022, fund balances are composed of the following:
Major Funds
Nonmajor
Funds Total
Restricted
Student activities $53,508 $-$53,508
Debt service -110,790 110,790
Retirement -504,167 504,167
Tort immunity -485,401 485,401
Transportation -1,211,199 1,211,199
Capital projects -195,602 195,602
Unassigned 12,180,415 -12,180,415
Total $12,233,923 $2,507,159 $14,741,082
When an expediture incurred for purposes for which both restricted and unrestricted fund balance is available,
the District considers resticted funds to have been spent first. When an expenditure is incurred for which
committed, assigned, or unassigned fund balances are available, the District considers amounts to have been
spent first out of comited funds, then assigned funds, and finally unasigned funds, as needed, unless the Board or
the finance committee has provided otherwise in its commitment or assignment actions.
53
Bloomingdale School District No. 13
Schedule of Changes in the Employer's Net Pension Liability
and Related Ratios
Illinois Municipal Retirement Fund
Last Eight Calendar Years
Calendar year ending December 31,2021 2020 2019 2018
Total Pension Liability
Service cost $183,706 $196,865 $211,042 $196,683
Interest on the total pension liability 961,544 913,663 885,594 842,722
Differences between expected and actual
experience 378,142 366,721 (44,670)224,851
Changes of assumption -(63,018)-305,987
Benefit payments, including refunds of
member contributions (801,712)(692,724)(622,719)(574,543)
Net change in total pension liability 721,680 721,507 429,247 995,700
Total pension liability, beginning 13,571,682 12,850,175 12,420,928 11,425,228
Total pension liability - ending $14,293,362 $13,571,682 $12,850,175 $12,420,928
Plan Fiduciary Net Position
Contributions - employer $270,981 $271,230 $248,010 $280,233
Contributions - member 93,257 90,453 95,056 95,969
Net investment income 2,142,610 1,564,691 1,763,190 (498,605)
Benefit payments, including refunds of
member contributions (801,712)(692,724)(622,719)(574,543)
Administrative expense 80,867 100,092 100,920 203,060
Net change in plan fiduciary net position 1,786,003 1,333,742 1,584,457 (493,886)
Plan fiduciary net position, beginning 12,700,259 11,366,517 9,782,060 10,275,946
Plan fiduciary net position, ending $14,486,262 $12,700,259 $11,366,517 $9,782,060
Employer's net pension liability (asset)$(192,900)$871,423 $1,483,658 $2,638,868
Plan fiduciary net position as a percentage of
the total pension liability %101.35 %93.58 %88.45 %78.75
Covered payroll $1,935,577 $1,934,597 $2,026,215 $2,054,497
Employer's net pension liability as a percentage
of covered payroll %(9.97)%45.04 %73.22 %128.44
Note: Schedule is intended to show information for ten years, additional years' information will be displayed as it
becomes available.
54
2017 2016 2015 2014
$206,149 $218,055 $217,792 $223,324
822,366 782,643 747,565 678,147
157,694 88,636 34,489 110,236
(329,619)(35,498)11,446 424,550
(586,325)(533,994)(522,928)(439,593)
270,265 519,842 488,364 996,664
11,154,963 10,635,121 10,146,757 9,150,093
$11,425,228 $11,154,963 $10,635,121 $10,146,757
$239,495 $242,720 $228,595 $216,377
95,112 93,541 93,050 93,078
1,578,936 598,799 44,268 519,435
(586,325) (533,994) (522,928) (439,593)
(210,416)48,272 87,395 (15,475)
1,116,802 449,338 (244,410)373,822
9,159,144 8,709,806 8,954,216 8,580,394
$10,275,946 $9,159,144 $8,709,806 $8,954,216
$1,149,282 $1,995,819 $1,925,315 $1,192,541
%89.94 %82.11 %82.11 %88.25
$1,899,256 $1,955,842 $1,947,149 $1,957,866
%60.51 %102.04 %98.88 %60.91
55
Bloomingdale School District No. 13
Schedule of Employer Contributions
Illinois Municipal Retirement Fund
Last Eight Fiscal Years
Fiscal Year
Contractually
Required
Contribution
Contributions in
Relation to
Contractually
Required
Contribution
Contribution
Deficiency
(Excess)Covered Payroll
Contributions as
a Percentage of
Covered Payroll
2022 $273,177 $273,177 $-$1,949,073 %14.02
2021 258,322 258,322 -1,843,952 %14.01
2020 263,900 263,900 -1,997,665 %13.21
2019 280,233 280,233 -2,054,497 %13.64
2018 239,496 239,495 1 1,899,256 %12.61
2017 242,720 242,720 -1,955,842 %12.41
2016 228,595 228,595 -1,947,149 %11.74
2015 216,376 216,377 (1)1,957,866 %11.05
Notes to Schedule
Valuation date:Actuarially determined contribution rates are calculated as of December 31 of
each year, which are 12 months prior to the beginning of the fiscal year in which
contributions are reported.
Methods and assumptions used to determine contribution rate
Actuarial cost method Aggregate entry age normal
Amortization method Level percent of pay, closed
Remaining amortization
period
22-year closed period
Asset valuation method 5-year smoothed market; 20% corridor
Wage growth 3.25%
Inflation 2.50%
Salary increases 3.35% to 14.25%, including inflation
Investment rate of return 7.25%
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, IMRF specific mortality rates were used with fully
generational projection scale MP-2017 (base year 2015). The IMRF specific rates
were developed from the RP-2014 Blue Collar Healthy Annuitant Mortality Table
with adjustments to match current IMRF experience. For disabled retirees, IMRF
specific mortality rates were 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 active members, IMRF specific mortality rates
were used with fully generational projection scale MP-2017 (base year 2015).
The IMRF specific rates were developed from the RP-2014 Employee Mortality
Table with adjustments to match current IMRF experience.
The District implemented GASB Statement No. 68 in fiscal year 2015.
Information prior to fiscal year 2015 is not available.
56
Bloomingdale School District No. 13
Schedule of the District's Proportionate Share of the
Net Pension Liability - Teachers' Retirement System
Last Eight Fiscal Years
2022*2021*2020*2019*
District's proportion of the net pension liability %0.001043 %0.001032 %0.001070 %0.001292
District's proportion share of the net pension
liability $813,997 $889,735 $867,697 $1,006,572
State's proportionate share of the net pension
liability associated with the District 68,221,573 69,688,640 61,753,077 68,954,374
Total $69,035,570 $70,578,375 $62,620,774 $69,960,946
District's covered payroll $8,669,684 $8,689,700 $8,844,297 $8,553,354
District's proportionate share of the net pension
liability as a percentage of covered payroll %9.39 %10.24 %9.81 %11.77
Plan fiduciary net position as a percentage of
the total pension liability %45.10 %37.80 %39.60 %40.00
Notes to Schedule
Changes of assumptions
For the 2021 measurement year, the assumed investment rate of return was of 7.0 percent, including an inflation
rate of 2.25 percent and a real rate of return of 4.75 percent. Salary increases were assumed to vary by service
credit. These actuarial assumptions were based on an experience study dated Sept. 30, 2021.
For the 2020-2016 measurement years, the assumed investment rate of return was of 7.0 percent, including an
inflation rate of 2.5 percent and a real return of 4.5 percent. Salary increases were assumed to vary by service
credit. The assumptions used for the 2020-2018 and 2017-2016 measurement years were based on an experience
study dated September 18, 2018 and August 13, 2015, respectively.
For the 2015 measurement year, the assumed investment rate of return was 7.5 percent, including an inflation
rate of 3.0 percent and a real return of 4.5 percent. Salary increases were assumed to vary by service credit.
Various other changes in assumptions were adopted based on the experience analysis for the three-year period
ending June 30, 2014.
* The amounts presented were determined as of the prior fiscal-year end.
The District implemented GASB Statement No. 68 in fiscal year 2015.
Information prior to fiscal year 2015 is not available.
57
2018*2017*2016*2015*
%0.002300 %0.001700 %0.001700 %0.001700
$1,781,125 $1,343,447 $1,137,058 $1,055,847
57,745,730 60,571,182 49,636,435 46,771,350
$59,526,855 $61,914,629 $50,773,493 $47,827,197
$7,961,930 $7,673,731 $7,665,811 $7,584,714
%22.37 %17.51 %14.83 %13.92
%39.30 %36.40 %41.50 %43.00
58
Bloomingdale School District No. 13
Schedule of Employer Contributions
Teachers' Retirement System
Last Eight Fiscal Years
Fiscal Year
Contractually
Required
Contribution
Contributions in
Relation to
Contractually
Required
Contribution
Contribution
Deficiency
(Excess)
District's
covered
Payroll
Contributions as
a Percentage of
Covered Payroll
2022 $61,640 $61,640 $-$8,754,195 %0.70
2021 50,284 50,284 -8,669,684 %0.58
2020 50,400 50,400 -8,689,700 %0.58
2019 59,047 59,047 -8,844,297 %0.67
2018 78,389 78,389 -8,553,354 %0.92
2017 68,012 68,012 -7,961,930 %0.85
2016 69,591 69,591 -7,673,731 %0.91
2015 60,819 60,819 -7,665,811 %0.79
The District implemented GASB Statement No. 68 in fiscal year 2015.
Information prior to fiscal year 2015 is not available.
59
Bloomingdale School District No. 13
Schedule of the District's Proportionate Share of the
Net OPEB Liability and Related Ratios
Postretirement Medical Plan
Last Five Fiscal Years
Fiscal year ending June 30,2022 2021 2020 2019
Total OPEB Liability
Service cost $23,570 $27,020 $25,280 $26,475
Interest on the total pension liability 11,624 18,336 20,275 19,174
Differences between expected and actual
experience -(80,097)-(50,196)
Changes of assumption (21,346)95,079 19,924 (6,917)
Benefit payments and refunds (43,910)(65,703)(68,568)(83,634)
Net change in total OPEB liability (30,062)(5,365)(3,089)(95,098)
Total OPEB liability, beginning 524,357 529,722 532,811 627,909
Total OPEB liability - ending $494,295 $524,357 $529,722 $532,811
Plan Fiduciary Net Position
Contributions - employer $43,910 $65,703 $68,568 $83,634
Benefit payments and refunds (43,910)(65,703)(68,568)(83,634)
Plan fiduciary net position, ending $-$-$-$-
Net OPEB liability (asset)$494,295 $524,357 $529,722 $532,811
Plan fiduciary net position as a percentage of
the total OPEB liability %0.00 %0.00 %0.00 %0.00
Covered payroll $9,459,785 $10,642,824 $10,973,358 $10,567,835
Employer's net pension liability as a percentage
of covered payroll %5.23 %4.93 %4.83 %5.04
The District implemented GASB Statement No. 75 in fiscal year 2018.
Information prior to fiscal year 2018 is not available.
60
2018
$27,365
17,706
-
(11,644)
(63,021)
(29,594)
657,503
$627,909
$63,021
(63,021)
$-
$627,909
%0.00
$10,130,900
%6.20
61
Bloomingdale School District No. 13
Schedule of Employer Contributions
Postretirement Medical Plan
Last Five Fiscal Years
Fiscal Year
Contractually
Required
Contribution
Contributions in
Relation to
Contractually
Required
Contribution
Contribution
Deficiency
(Excess)Covered Payroll
Contributions as a
Percentage of
Covered Payroll
2022 $26,270 $43,910 $(17,640)$9,459,785 %0.46
2021 39,990 65,703 (25,713)10,642,824 %0.62
2020 37,192 68,568 (31,376)10,973,358 %0.62
2019 33,301 83,634 (50,333)10,567,835 %0.79
2018 45,071 63,021 (17,950)10,130,900 %0.62
The District implemented GASB Statement No. 75 in fiscal year 2018.
Information prior to fiscal year 2018 is not available.
62
Bloomingdale School District No. 13
Schedule of the District's Proportionate Share of the
Net OPEB Liability and Related Ratios
Teachers' Health Insurance Security Fund
Last Five Fiscal Years
Fiscal year ending June 30,2022*2021*2020*2019*
District's proportion of the net OPEB liability %0.033590 %0.016026 %0.053555 %0.034876
District's proportion share of the net OPEB
liability $7,408,333 $4,284,656 $14,822,581 $9,188,303
State's proportionate share of the net OPEB
liability associated with the District 10,044,619 5,804,542 20,071,666 12,337,909
Total $17,452,952 $10,089,198 $34,894,247 $21,526,212
District's covered payroll $8,669,684 $8,689,700 $8,844,297 $8,555,354
District's proportionate share of the net OPEB
liability as a percentage of covered payroll %85.45 %49.31 %167.59 %107.40
Plan fiduciary net position as a percentage of
the total OPEB liability %1.40 %0.70 %(0.22)%(0.07)
* The amounts presented were determined as of the prior fiscal-year end.
The District implemented GASB Statement No. 75 in fiscal year 2018.
Information prior to fiscal year 2018 is not available.
63
2018*
%0.037411
$9,707,895
12,748,878
$22,456,773
$7,961,930
%121.93
%(0.17)
64
Bloomingdale School District No. 13
Schedule of Employer Contributions
Teachers' Health Insurance Security Fund
Last Five Fiscal Years
Fiscal Year
Contractually
Required
Contribution
Contributions
in Relation to
Contractually
Required
Contribution
Contribution
Deficiency
(Excess)
Covered
Payroll
Contributions as
a Percentage of
Covered Payroll
2022 $58,653 $58,653 $-$8,669,684 %0.68
2021 79,761 79,761 -8,689,700 %0.92
2020 79,945 79,945 -8,844,297 %0.90
2019 81,368 81,368 -8,844,297 %0.92
2018 75,287 75,287 8,555,354 %0.88
* The amounts presented were determined as of the prior fiscal-year end.
The District implemented GASB Statement No. 75 in fiscal year 2018.
Information prior to fiscal year 2018 is not available.
65
Bloomingdale School District No. 13
Schedule of Revenues, Expenditures and Changes In Fund Balance
Budget and Actual
General Fund
General Fund
Year Ended June 30, 2022
Original and
Final Budget Actual
Variance with
Final Budget
Revenues:
Local sources $16,970,651 $17,317,602 $346,951
State sources 5,446,761 5,495,617 48,856
Federal sources 749,809 750,747 938
Total revenues 23,167,221 23,563,966 396,745
Expenditures:
Instruction 14,454,764 13,779,699 (675,065)
Support Services 6,268,465 5,884,936 (383,529)
Community services 4,837 9,317 4,480
Payrments to other districts and governmental units 1,545,950 1,360,934 (185,016)
Capital outlay 370,000 346,740 (23,260)
Total expenditures 22,644,016 21,381,626 (1,262,390)
Excess of revenue over expenditures 523,205 2,182,340 1,659,135
Other financing sources (uses):
Transfers out (22,600)(22,372)228
Total other financing sources (uses)(22,600)(22,372)228
Net change in fund balances $500,605 2,159,968 $1,659,363
Fund balance beginning of year 10,073,955
Fund balances at end of year $12,233,923
66
Bloomingdale School District No. 13
Notes to Required Supplementary Information
Note. 1 Budgetary Data
Annual budgets for all Governmental Funds are adopted on the modified accrual basis of accounting, which is the
same basis taht is used in financial reporting. This allows for comaprability between budget and actual amounts.
This is an acceptable method in accordance with Chapter 105, Section 5/17.1 of the Illinois Compiled Statutes.
The Board of Education follows these procedures in establishing the budgetary data reflected in the financial
statements:
The Administration submits to the Board of Education a proposed operating budget for the fiscal year
commencing July 1. The operating budget includes proposed expenditures and the means of financing
them.
Public hearings are conducted and the proposed budget is available for inspection to obtain taxpayer
comments.
Prior to October 1 the budget is legally adopted through passage of a resolution. On or before the last
Tuesday in December, a tax levy ordinance is filed with the County Clerk to obtain tax revenues.
The legal level of budgetary control (i.e., the level at which expenditures may not legally exceed thr budget)
is the at fund level. The budget, which was not amended, was adopted on September 27, 2021.
Formal budgetary integration is employed as a management control device during the year for all
Governmental Funds.
The District has adopted a legal budget for all its Governmental Funds. The legal level of budgetary control
is at the individual fund level, therefore, actual expenditures for the governmental funds may not legally
exceed the total budgeted for such funds. However, under the State Budget Act expenditures may exceed
the budget if additional resources are available to finance such expenditures.
The budget lapses at the end of each fiscal year.
Excess of Expenditures over Budgets in Individual Funds
Expenditures exceeded the budgeted amount in the following funds:
Fiscal Year Budget Actual Excess
Debt service fund $445,125 $445,372 $247
Transportation fund 930,842 1,010,142 79,300
Municipal Retirement Social Security fund 528,559 578,633 50,074
Capital Projects fund -42,242 42,242
The expenditure variances was sufficiently absorbed by surpluses that existed at the beginning of the fiscal year
and were approved by the Board of Education. Under the State Budget Act expenditures may exceed the budget if
additional resources are available to finance such expenditures.
67
Bloomingdale School District No. 13
Combining Balance Sheet by Account
General Fund
June 30, 2022 Educational
Operations and
Maintenance Working Cash Total General
Assets
Cash and investments $15,722,540 $3,739,174 $2,952,239 $22,413,953
Receivables
Property taxes 6,706,168 1,077,470 89,886 7,873,524
Intergovernmental 36,033 --36,033
Other receivables 117,904 --117,904
Total assets $22,582,645 $4,816,644 $3,042,125 $30,441,414
Liabilities, Deferred Inflows, and Fund
Balance
Liabilities
Accounts payable $106,616 $4,701 $-$111,317
Accrued payroll expenses 1,217,128 --1,217,128
Total liabilities 1,323,744 4,701 -1,328,445
Deferred inflow of resources
Property taxes levied for subsequent
year 14,376,500 2,309,850 192,696 16,879,046
Fund balances
Restricted 53,508 --53,508
Unassigned 6,828,893 2,502,093 2,849,429 12,180,415
Total fund balances 6,882,401 2,502,093 2,849,429 12,233,923
Total liabilities, deferred inflows, and fund
balances $22,582,645 $4,816,644 $3,042,125 $30,441,414
68
Bloomingdale School District No. 13
Combining Schedule of Revenues, Expenditures and
Changes in Fund Balances By Account
General Fund
Year Ended June 30, 2022 Educational
Operations
and
Maintenance Working Cash Total General
Revenues:
Property taxes $14,137,255 $2,264,066 $189,068 $16,590,389
Other local sources 698,674 46,133 (17,594)727,213
State resources 5,445,617 50,000 -5,495,617
Federal resources 750,747 --750,747
Total revenues 21,032,293 2,360,199 171,474 23,563,966
Expenditures:
Current operating:
Instruction 13,779,699 --13,779,699
Support Services 4,267,272 1,617,664 -5,884,936
Community services 9,317 --9,317
Payments to other districts and
governmental units 1,360,934 --1,360,934
Capital outlay -346,740 -346,740
Total expenditures 19,417,222 1,964,404 -21,381,626
Excess of revenues over (under)
expenditures 1,615,071 395,795 171,474 2,182,340
Other financing sources (uses):
Transfers out (22,372)--(22,372)
Total other financing sources (uses)(22,372)--(22,372)
Net change in fund balances 1,592,699 395,795 171,474 2,159,968
Fund balances at beginning of year 5,289,702 2,106,298 2,677,955 10,073,955
Fund balances at end of year $6,882,401 $2,502,093 $2,849,429 $12,233,923
69
Bloomingdale School District No. 13
Schedule of Revenues, Expenditures, and
Changes In Fund Balance
Budget and Actual
Educational Account
2022 2021
For Year Ended June 30, 2022 with
Comparative Amounts for 2021
Original and
Final Budget Actual Actual
Revenues:
Local sources
Property taxes
General tax levy $13,817,252 $13,969,091 $13,533,449
Special education tax levy 157,974 168,164 156,214
Corporate replacement taxes 80,000 200,898 91,326
Tuition 25,000 (489)124,381
Earnings on investments 60,000 (95,564)117,228
Food services 5,000 2,642 984
Fees 20,000 55,422 16,159
Textbook income 100,000 281,193 171,740
Rentals 60,000 (775)-
Refund of prior years' expenditures 120,000 207,507 119,059
Other -47,840 63,587
Total local sources 14,445,226 14,835,929 14,394,127
State sources
Evidence Based funding 877,548 920,644 919,331
Special Education 18,463 50,183 18,463
School lunch aid -257 176
On behalf payments - State of Illinois 4,500,000 4,473,259 3,885,837
Other 750 1,274 2,038
Total state sources 5,396,761 5,445,617 4,825,845
Federal sources
Restricted
Food Service --25,045
Title I -low Income 91,704 122,433 100,524
Title IV - student support 10,080 16,720 9,852
IDEA - flow through 316,248 320,912 312,019
IDEA - room & board --7,061
Title II - teacher quality 20,558 28,383 28,907
Medicaid programs 34,000 22,959 8,552
Other restricted grants 277,219 239,340 71,132
Total federal sources 749,809 750,747 563,092
Total revenues $20,591,796 $21,032,293 $19,783,064
70
Bloomingdale School District No. 13
Statement of Revenues, Expenditures, and
Changes in Fund Balance
Budget to Actual (Continued)
Educational Account
2022 2021
Year Ended June 30, 2022 with
Comparative Actual Totals for 2021
Original and
Final Budget Actual Actual
Expenditures:
Current operating
Instruction
Regular programs
Salaries $6,899,051 $6,226,241 $6,299,165
Employee benefits 1,080,230 1,215,875 1,032,803
On behalf payments -State of Illinois 4,500,000 4,473,259 3,885,837
Purchased services 1,500 667 485
Supplies and materials 172,203 160,654 104,406
Termination benefits 70,000 81,500 56,500
Total 12,722,984 12,158,196 11,379,196
Special programs
Salaries 892,934 833,266 899,123
Employee benefits 180,277 192,623 185,988
Purchased services 1,500 3,158 4,036
Supplies and materials 14,736 14,960 18,840
Non-capitalized equipment -480 329
Total 1,089,447 1,044,487 1,108,316
Special programs pre-k
Salaries 86,530 114,616 84,279
Employee benefits 19,517 1,474 9,240
Supplies and materials 1,442 1,060 788
Non-capitalized equipment -1,015 -
Total 107,489 118,165 94,307
Educationally deprived
Salaries 234,565 166,810 192,520
Employee benefits 36,156 31,052 24,037
Purchased services 500 449 -
Supplies and materials 500 210 510
Total 271,721 198,521 217,067
71
Bloomingdale School District No. 13
Statement of Revenues, Expenditures, and
Changes in Fund Balance
Budget to Actual (Continued)
Educational Account
2022 2021
Year Ended June 30, 2022 with
Comparative Actual Totals for 2021
Original and
Final Budget Actual Actual
Educationally deprived pre-k
Salaries $73,991 $75,852 $72,186
Employee benefits 958 8,047 930
Total 74,949 83,899 73,116
Vocational programs
Supplies and materials 309 -17
Interscholastic programs
Salaries 42,000 46,248 16,632
Employee benefits -544 249
Purchased services 3,100 2,213 -
Supplies and materials 3,500 7,700 1,731
Total 48,600 56,705 18,612
Summer school programs
Salaries 75,000 51,748 -
Employee benefits 7,500 2,047 -
Supplies and materials 500 55 96
Total 83,000 53,850 96
Gifted
Purchased services -127 -
Supplies and materials 2,000 132 31
Total 2,000 259 31
Bilingual
Salaries 33,765 1,023 -
Employee benefits -10,254 5,776
Supplies and materials 500 28 395
Total 34,265 11,305 6,171
Student activity fund expenditures
Other Ojects 20,000 54,312 18,479
Total 20,000 54,312 18,479
Total instruction 14,454,764 13,779,699 12,915,408
72
Bloomingdale School District No. 13
Statement of Revenues, Expenditures, and
Changes in Fund Balance
Budget to Actual (Continued)
Educational Account
2022 2021
Year Ended June 30, 2022 with
Comparative Actual Totals for 2021
Original and
Final Budget Actual Actual
Support services
Pupils
Attendance and social work
Salaries $203,219 $269,280 $207,611
Employee benefits 23,757 29,655 23,065
Total 226,976 298,935 230,676
Health services
Salaries 182,081 195,643 137,701
Employee benefits 14,204 19,219 13,791
Purchased services 13,000 44,880 102,417
Supplies and materials 6,000 3,516 3,020
Total 215,285 263,258 256,929
Speech pathology and audiology services
Salaries 189,033 133,707 129,812
Employee benefits 20,729 23,742 20,126
Purchased services -149,073 -
Total 209,762 306,522 149,938
Other support services
Salaries 2,022 132 1,964
Employee benefits 30 2 29
Supplies and materials 3,900 3,036 3,899
Total 5,952 3,170 5,892
Total pupils 657,975 871,885 643,435
Instructional staff
Improvement of instruction services
Salaries 186,299 123,013 191,505
Employee benefits 60,047 50,097 46,560
Purchased services 143,779 58,889 62,460
Supplies and materials 185,800 149,558 221,021
Total 575,925 381,557 521,546
73
Bloomingdale School District No. 13
Statement of Revenues, Expenditures, and
Changes in Fund Balance
Budget to Actual (Continued)
Educational Account
2022 2021
Year Ended June 30, 2022 with
Comparative Actual Totals for 2021
Original and
Final Budget Actual Actual
Educational media services
Salaries $227,454 $164,266 $224,199
Employee benefits 34,932 24,470 33,915
Supplies and materials 31,232 28,790 30,166
Total 293,618 217,526 288,280
Assessment and testing
Purchased services 32,000 32,064 35,128
Supplies and materials 20,500 7,917 7,542
Total 52,500 39,981 42,670
Total instructional staff 922,043 639,064 852,496
General administration
Board of education
Salaries -20,840 11,000
Employee benefits 44,181 39,780 44,249
Purchased services 176,400 124,612 113,251
Other objects 41,000 54,779 39,343
Total 261,581 240,011 207,843
Executive administration
Salaries 284,273 213,026 310,144
Employee benefits 72,976 63,509 70,851
Purchased services 160,000 155,323 106,931
Supplies and materials 15,000 12,939 11,107
Other objects 1,000 840 -
Total 533,249 445,637 499,033
Special area administrative services
Employee benefits 8,566 -8,317
Total general administration 803,396 685,648 715,193
74
Bloomingdale School District No. 13
Statement of Revenues, Expenditures, and
Changes in Fund Balance
Budget to Actual (Continued)
Educational Account
2022 2021
Year Ended June 30, 2022 with
Comparative Actual Totals for 2021
Original and
Final Budget Actual Actual
School administration
Office of the principal
Salaries $842,940 $790,248 $909,215
Employee benefits 270,664 234,494 262,780
Purchased services 10,000 4,953 2,020
Total school administration 1,123,604 1,029,695 1,174,015
Business
Director of business support services
Salaries -143,186 131,967
Employee benefits 41,693 43,956 40,478
Total 41,693 187,142 172,445
Fiscal services
Salaries 277,906 139,918 129,035
Employee benefits 15,284 18,403 14,839
Purchased services 55,000 62,678 27,721
Supplies and materials 4,000 2,413 1,680
Non-capitalized equipment 10,000 2,376 620
Total 362,190 225,788 173,895
Food services
Salaries -631 -
Employee benefits -8 -
Purchased services 60,000 49,246 41,645
Supplies and materials 12,000 4,827 2,587
Total 72,000 54,712 44,232
Total business 475,883 467,642 390,572
Central
Information services
Salaries 210,000 136,019 198,814
Employee benefits -43,515 50,630
Purchased services 65,000 83,315 33,753
Supplies and materials 115,000 117,759 93,269
Non-capitalized equipment 195,000 192,730 246,794
Total central 585,000 573,338 623,260
Total support services 4,567,901 4,267,272 4,398,971
75
Bloomingdale School District No. 13
Statement of Revenues, Expenditures, and
Changes in Fund Balance
Budget to Actual (Continued)
Educational Account
2022 2021
Year Ended June 30, 2022 with
Comparative Actual Totals for 2021
Original and
Final Budget Actual Actual
Community services
Salaries $3,374 $5,067 $3,276
Purchased services 1,463 4,250 1,560
Total community services 4,837 9,317 4,836
Payments to other districts and governmentals units
Special education programs 40,000 -28,648
Special education programs - tuition 1,505,950 1,360,934 1,618,076
Total other districts and governmentals units 1,545,950 1,360,934 1,646,724
Total expenditures 20,573,452 19,417,222 18,965,939
Excess of revenue over expenditures 18,344 1,615,071 817,125
Other financing (uses)
Transfers out (22,600)(22,372)(22,372)
Total other financing (uses)(22,600)(22,372)(22,372)
Net change in fund balance $(4,256)1,592,699 794,753
Fund balance beginning of year 5,289,702 4,494,949
Fund balances at end of year $6,882,401 $5,289,702
76
Bloomingdale School District No. 13
Schedule of Revenues, Expenditures, and
Changes In Fund Balance
Budget and Actual
Operations and Maintenance Account
2022 2021
For Year Ended June 30, 2022 with
Comparative Actual Totals for 2021
Original and
Final Budget Actual Actual
Revenues:
Local sources
Property taxes $2,238,158 $2,264,066 $2,209,459
Earnings on investments 13,000 (22,883)25,690
Contributions 2,100 6,250 12,230
Rentals 65,000 59,839 67,760
Other 4,500 2,927 95,694
Total local sources 2,322,758 2,310,199 2,410,833
State sources
Restricted 50,000 50,000 -
Total revenues 2,372,758 2,360,199 2,410,833
Expenditures:
Current operating:
Support services
Operation and maintenance of plant services:
Salaries 719,522 777,281 698,566
Employee benefits 103,642 102,126 100,623
Purchased services 456,200 394,541 341,565
Supplies and materials 369,200 289,149 330,614
Non-capitalized equipment 52,000 54,567 44,816
Termination benefits --30,304
Total Support Services 1,700,564 1,617,664 1,546,488
Capital outlay 370,000 346,740 187,385
Total expenditures 2,070,564 1,964,404 1,733,873
Net change in fund balance $302,194 395,795 676,960
Fund balances at beginning of year 2,106,298 1,429,338
Fund balances at end of year $2,502,093 $2,106,298
77
Bloomingdale School District No. 13
Schedule of Revenues, Expenditures and
Changes in Fund Balance
Budget and Actual
Working Cash Account
2022 2021
For Year Ended June 30, 2022 with
Comparative Actual Amounts for 2021
Original and
Final Budget Actual Actual
Revenues:
Local sources
Property taxes $187,602 $189,068 $186,781
Earnings on investments 15,065 (17,594)25,108
Net change in fund balances $202,667 171,474 211,889
Fund balances at beginning of year 2,677,955 2,466,066
Fund balances at end of year $2,849,429 $2,677,955
78
Bloomingdale School District No. 13
Combining Balance Sheet
Nonmajor Governmental Funds
Year Ended June 30, 2022 Transportation
Municipal
Retirement/
Social Security Tort Immunity
Assets
Cash and investments $1,570,219 $815,267 $512,439
Receivables (net of allowance for uncollectables):
Property taxes 332,405 271,994 23,639
Other 87,270 --
Total assets $1,989,894 $1,087,261 $536,078
Liabilities, deferred Inflows of resources, and fund
balances
Liabilities
Accounts payable $65,880 $-$-
Accrued payroll liabilities 215 --
Total liabilities 66,095 --
Deferred inflow of resources
Property taxes levied for subsequent year 712,600 583,094 50,677
Fund Balances
Restricted 1,211,199 504,167 485,401
Total liabilities, deferred inflows of resources, and fund
balances $1,989,894 $1,087,261 $536,078
79
Debt Service Capital Projects Total
$340,109 $195,602 $3,433,636
200,493 -828,531
--87,270
$540,602 $195,602 $4,349,437
$-$-$65,880
--215
--66,095
429,812 -1,776,183
110,790 195,602 2,507,159
$540,602 $195,602 $4,349,437
80
Bloomingdale School District No. 13
Combining Statement of Revenues, Expenditures, and
Changes in Fund Balances
Nonmajor Governmental Funds
Year Ended June 30, 2022 Transportation
Municipal
Retirement/
Social Security Tort Immunity
Revenues:
Property taxes $674,589 $576,994 $49,399
Other local sources 2,928 13,978 15,228
State resources 347,801 --
Total revenues 1,025,318 590,972 64,627
Expenditures:
Current operating:
Instruction -236,468 -
Support Services 1,010,142 341,778 117,760
Community services -387 -
Debt service:
Payments of principal on long-term debt ---
Interest on long-term debt ---
Total expenditures 1,010,142 578,633 117,760
Excess of revenues over (under) expenditures 15,176 12,339 (53,133)
Other financing sources:
Transfers in ---
Total other financing sources ---
Net change in fund balance 15,176 12,339 (53,133)
Fund balance at beginning of year 1,196,023 491,828 538,534
Fund balance at end of year $1,211,199 $504,167 $485,401
81
Debt Service Capital Projects Total
$426,778 $-$1,727,760
(1,985)(1,117)29,032
--347,801
424,793 (1,117)2,104,593
--236,468
-42,242 1,511,922
--387
360,877 -360,877
84,495 -84,495
445,372 42,242 2,194,149
(20,579)(43,359)(89,556)
22,372 -22,372
22,372 -22,372
1,793 (43,359)(67,184)
108,997 238,961 2,574,343
$110,790 $195,602 $2,507,159
82
Bloomingdale School District No. 13
Schedule of Revenues, Expenditures and
Changes in Fund Balance
Budget to Actual
Transportation Fund
2022 2021
For Year Ended June 30, 2022 with
Comparative Actual Totals for 2021
Original and
Final Budget Actual Actual
Revenues:
Local sources
Property taxes $666,865 $674,589 $667,698
Transportation fees 18,000 12,309 (4,121)
Earnings on investments 13,000 (9,381)12,638
Total local sources 697,865 677,517 676,215
State sources
Transportation aid:
Regular 34,081 120,700 83,104
Special Education 186,223 227,101 195,277
Total state sources 220,304 347,801 278,381
Total revenues 918,169 1,025,318 954,596
Expenditures:
Current operating
Support services
Business - Pupil transportation services
Salaries 11,403 13,093 31,505
Employee benefits 4,139 4,296 4,018
Purchased services 915,300 992,753 643,932
Total expenditures 930,842 1,010,142 679,455
Net change in fund balance $(12,673)15,176 275,141
Fund balances at beginning of year 1,196,023 920,882
Fund balances at end of year $1,211,199 $1,196,023
83
Bloomingdale School District No. 13
Schedule of Revenues, Expenditures and
Changes in Fund Balance
Budget to Actual
Municipal Retirement/Social Secuity Fund
2022 2021
For Year Ended June 30, 2022 with
Comparative Actual Totals for 2021
Original and
Final Budget Actual Actual
Revenues:
Local sources
Property taxes
General tax levy $285,197 $288,497 $285,223
Social security/medicare tax levy 285,197 288,497 285,223
Corporate replacement taxes 14,000 19,029 10,409
Earnings on investments 4,057 (5,051)6,763
Total revenues 588,451 590,972 587,618
Expenditures:
Current operating
Instruction - employee benefits 215,528 236,468 207,153
Support services - employee benefits 312,768 341,778 324,885
Community services 263 387 251
Total expenditures 528,559 578,633 532,289
Net change in fund balance $59,892 12,339 55,329
Fund balances at beginning of year 491,828 436,499
Fund balances at end of year $504,167 $491,828
84
Bloomingdale School District No. 13
Schedule of Revenues, Expenditures, and
Changes in Fund Balance
Budget and Actual
Tort Immunity Fund
2022 2021
For Year Ended June 30, 2022 with
Comparative Actual Totals for 2021
Original and
Final Budget Actual Actual
Revenues:
Local sources
Property taxes $48,839 $49,399 $107,923
Earnings on investments 3,079 (3,023)5,131
Other -18,251 -
Total revenues 51,918 64,627 113,054
Expenditures:
Current operating
Support services
General Administration:
Purchased services 120,319 117,760 112,344
Net change in fund balance $(68,401)(53,133)710
Fund balances at beginning of year 538,534 537,824
Fund balances at end of year $485,401 $538,534
85
Bloomingdale School District No. 13
Schedule of Revenues, Expenditures, and
Changes in Fund Balance
Budget and Actual
Debt Service Fund
2022 2021
For Year Ended June 30, 2022 with
Comparative Actual Totals for 2021
Original and
Final Budget Actual Actual
Revenues:
Local sources
Property taxes $422,066 $426,778 $434,059
Earnings on investments 1,590 (1,985)10,650
Total revenues 423,656 424,793 444,709
Expenditures:
Debt Service:
Payment of principal on long-term debt 345,000 360,877 354,960
Interest on long-term debt 100,125 84,495 97,937
Total expenditures 445,125 445,372 452,897
Deficiency of revenue under expenditures (21,469)(20,579)(8,188)
Other Financing Sources:
Transfers in 22,600 22,372 22,372
Total other financing sources 22,600 22,372 22,372
Net change in fund balance $1,131 1,793 14,184
Fund balances at beginning of year 108,997 94,813
Fund balances at end of year $110,790 $108,997
86
Bloomingdale School District No. 13
Schedule of Revenues, Expenditures, and
Changes in Fund Balance
Budget and Actual
Capital Projects Fund
2022 2021
For Year Ended June 30, 2022 with
Comparative Actual Totals for 2021
Original and
Final Budget Actual Actual
Revenues:
Local sources
Earnings on investments $500 $(1,117)$2,593
Expenditures:
Support services
Facility acquistion and construction services
Non-capitalized equipment -42,242 47,495
Total expenditures -42,242 47,495
Net change in fund balance $500 (43,359)(44,902)
Fund balances at beginning of year 238,961 283,863
Fund balances at end of year $195,602 $238,961
87
III. STATISTICAL SECTION (UNAUDITED)
Financial Trends (pages 88-95)
These schedules contain trend information to help the reader understand how
the District's financial performance and well being have changed over time.
Revenue Capacity (pages 96-100)
These schedules contain information to help the reader assess the District's
most significant local revenue source, the property tax.
Debt Capacity (pages 101-106)
These schedules present information to help the reader assess the affordability
of the District's current levels of outstanding debt and the District's ability to
issue additional debt in the future.
Demographic and Economic Information (pages 107-108)
These schedules offer demographic and economic indicators to help the reader
understand the environment within which the District's financial activities take
place.
Operating Information (pages 110-112)
These schedules contain service and infrastructure data to help the reader
understand how the information in the District's financial report relates to the
services the District provides and the activities it performs.
2022 2021 2020
Governmental activities:
Net investment in capital assets 8,997,860$ 9,227,889$ 9,482,624$
Restricted 2,560,667 2,626,741 2,273,881
Unrestricted (deficit)(1,753,155) (4,597,972) (7,224,635)
Total governmental activities net position (deficit)9,805,372$ 7,256,658$ 4,531,870$
Note: GASB No. 75 was implemented in 2018 and 2017 has not been restated.
Note: District changed accounting method from modified cash to accrual in FY17, therefore this schedule
will be built prospectively from 2017.
Source of information: District's financial records
Bloomingdale School District No. 13
Net Position by Component
Schedule to be built prospectively from 2017
Last six fiscal years
88
2019 2018 2017
8,759,356$ 8,899,226$ 9,093,390$
3,272,694 1,569,382 1,424,858
(7,691,437) (5,071,684) 5,674,284
4,340,613$ 5,396,924$ 16,192,532$
89
2022 2021 2020 2019
GOVERNMENT-WIDE EXPENSES:
Instructional services:
Regular programs 12,543,751$ 15,376,575$ 17,418,770$ 15,863,160$
Special programs 2,530,964 2,514,365 3,256,879 3,807,323
Other programs 536,244 403,832 446,794 51,295
Supporting services:
Students 900,281 669,834 554,612 633,278
Instructional staff 651,390 864,642 851,603 963,654
District administration 907,138 942,022 1,481,763 957,850
School administration 1,113,278 1,164,393 1,106,509 1,106,932
Business 455,147 398,246 448,926 366,083
Operation and maintenance of facilities 2,094,893 1,984,907 2,054,937 2,284,977
Transportation 1,010,329 679,612 811,003 890,112
Food service 52,079 44,232 89,934 110,717
Staff 529,374 411,313 327,026 329,224
Community services:9,704 5,087 5,199 6,725
Interest on long-term liabilities 63,622 77,064 217,465 110,358
Total Government-Wide Expenses 23,398,194 25,536,124 29,071,420 27,481,688
PROGRAM REVENUES:
Charges for services:
Instruction 336,126 312,280 311,894 213,760
Special programs - - - -
Transportation - - 10,181 16,057
Food services 2,642 984 15,968 12,098
Operating grants and contributions 5,943,862 8,433,152 9,367,803 7,400,597
Total Program Revenues 6,282,630 8,746,416 9,705,846 7,642,512
NET EXPENSE (17,115,564) (16,789,708) (19,365,574) (19,839,176)
GENERAL REVENUES AND OTHER CHANGES IN NET POSITION:
Property taxes:
General purposes 16,590,389 16,085,903 15,729,693 15,277,177
Transportation 674,589 667,698 651,463 638,545
Retirement 576,994 570,446 558,184 551,521
Debt service 426,778 434,059 413,604 355,319
Tort 49,399 107,923 167,252 153,138
Federal and state aid not restricted to
specific purposes 920,644 919,331 919,331 917,840
Earnings on investments (156,598) 205,801 445,526 278,980
Other revenue 584,725 468,617 671,778 610,345
Total General Revenues 19,666,920 19,459,778 19,556,831 18,782,865
CHANGES IN NET POSITION 2,551,356$ 2,670,070$ 191,257$ (1,056,311)$
Note: District changed accounting method from modified cash to accrual in FY17, therefore this schedule
will be built prospectively from 2017.
Note: GASB No. 75 was implemented in 2018 and 2017 has not been restated.
Source of information: District's financial records
Bloomingdale School District No. 13
Changes in Net Position
Schedule to be built prospectively from 2017
Last six fiscal years
90
2018 2017
14,781,636$ 13,381,721$
3,680,182 3,101,539
53,812 46,880
577,203 583,007
1,117,276 1,571,224
901,175 860,654
983,869 1,004,293
379,916 364,387
2,085,881 2,100,677
762,661 680,784
109,202 102,821
164,092 2,105
4,839 4,337
117,201 128,897
25,718,945 23,933,326
196,023 140,781
-4,440
17,729 18,936
14,873 16,455
6,684,648 6,903,248
6,913,273 7,083,860
(18,805,672) (16,849,466)
15,021,904 14,916,204
631,059 623,712
544,817 538,212
375,722 375,117
151,409 149,256
916,388 544,696
190,897 106,628
624,572 482,065
18,456,768 17,735,890
(348,904)$886,424$
91
2022 2021 2020 2019
Fund Balances:
General Fund:
Restricted 53,508$ 52,398$ -$-$
Unassigned 12,180,415 10,021,557 8,335,635 6,755,285
Total General Fund 12,233,923 10,073,955 8,335,635 6,755,285
All other governmental funds:
Restricted 2,507,159 2,574,343 2,273,881 3,272,694
Total all other governmental funds:2,507,159$ 2,574,343$ 2,273,881$ 3,272,694$
Note: District changed accounting method from modified cash to accrual in FY17, therefore this schedule
will be built prospectively from 2017.
Source of information: District's financial records
Bloomingdale School District No. 13
Fund Balances - Governmental Funds
Schedule to be built prospectively from 2017
Last six fiscal years
92
2018 2017
-$ -$
8,724,665 8,285,020
8,724,665 8,285,020
1,569,382 1,424,858
1,569,382$ 1,424,858$
93
2022 2021 2020 2019
Revenues:
Local sources:
Taxes 18,538,076$ 17,933,789$ 17,607,847$ 16,975,700$
Earnings on investments 38,442 205,801 445,526 278,980
Other local sources 497,876 701,448 918,887 851,225
Total local sources 19,074,394 18,841,038 18,972,260 18,105,905
State sources:
Evidence-based funding 920,644 919,331 919,331 917,840
Categorical aid (1)4,922,774 4,184,895 4,407,483 6,918,486
State sources (1)5,843,418 5,104,226 5,326,814 7,836,326
Federal sources - restricted grants 750,747 563,092 365,698 483,146
Total revenues 25,668,559 24,508,356 24,664,772 26,425,377
Expenditures:
Current:
Instruction:
Regular programs (1)12,861,458 11,928,051 11,683,925 15,138,052
Special programs 2,515,643 2,841,234 1,614,045 1,337,841
Total instruction 15,377,101 14,769,285 13,297,970 16,475,893
Supporting services:
Pupils 900,281 669,834 554,612 633,278
Instructional staff 650,086 863,475 850,435 945,246
General/school administration 1,922,629 2,091,085 1,948,131 2,002,528
Business 3,337,572 2,960,471 3,299,271 3,910,345
Central 587,117 410,120 325,832
Total supporting services 7,397,685 6,994,985 6,978,281 7,491,397
Community services 9,704 5,087 5,199 6,725
Payments to other districts and gov.- - 2,081,337 2,005,172
Capital outlay 345,913 302,038 2,397,629 321,430
Debt service:
Principal 84,495 97,937 2,379,083 283,245
Interest and fees 360,877 354,960 184,174 107,583
Total expenditures 23,575,775 22,524,292 27,323,673 26,691,445
Excess of revenues over (under) expenditures 2,092,784 1,984,064 (2,658,901) (266,068)
Other financing sources (uses):
Principal on bonds sold 3,075,000
Premium on bonds sold 165,438
Transfers out 22,372 22,372 (1,128,811) (2,004,372)
Transfers in (22,372)(22,372)1,128,811 2,004,372
Principal on capital lease - -
Total other financing sources (uses)- - 3,240,438 -
Net changes in fund balance 2,092,784$ 1,984,064$ 581,537$ (266,068)$
1.92%2.04%10.28%1.48%
(1) Includes effect of on-behalf payments required by GASB #24
Note: District changed accounting method from modified cash to accrual in FY17, therefore this schedule will be built prospectively from 2017.
Source of information: District's financial records
Debt service as a percentage of noncapital
expenditures
Bloomingdale School District No. 13
Changes in Fund Balances - Governmental Funds
Schedule to be built prospective from 2017
Last six fiscal years
94
2018 2017
16,724,911$ 16,602,501$
190,897 106,628
851,405 662,245
17,767,213 17,371,374
916,388 544,696
6,102,741 6,396,617
7,019,129 6,941,313
583,699 507,063
25,370,041 24,819,750
13,429,214 12,840,175
2,070,689 1,877,887
15,499,903 14,718,062
545,028 583,007
1,079,316 1,531,220
4,048,361 1,799,011
1,227,045 3,149,001
6,899,750 7,062,239
4,839 4,337
1,683,872 1,212,774
371,594 375,987
311,488 313,028
114,426 126,122
24,885,872 23,812,549
484,169 1,007,201
(233,545)(82,600)
233,545 82,600
100,000 -
100,000 -
584,169$ 1,007,201$
1.74%1.87%
95
2021 2020 2019 2018 2017
Rates extended:
Educational 2.2768 2.2916 2.2821 2.2039 2.2388
Tort immunity 0.0081 0.0081 0.0182 0.0259 0.0271
Operations and maintenance 0.3692 0.3712 0.3726 0.3619 0.4078
Special education 0.0261 0.0262 0.0265 0.0247 0.0252
Transportation 0.1089 0.1106 0.1126 0.1086 0.1130
Illinois municipal retirement 0.0466 0.0473 0.0481 0.0461 0.0481
Debt Service 0.0687 0.0700 0.0732 0.0675 0.0652
Fire prevention and safety - -
Social Security 0.0466 0.0473 0.0481 0.0469 0.0495
Working Cash 0.0308 0.0310 0.0315 0.0305 0.0317
Total rates extended 2.9818 3.0033 3.0129 2.9160 3.0064
Levies extended:
Educational 14,244,491$ 14,001,228$ 13,573,397$ 13,257,984$ 12,758,567$
Tort immunity 50,677 49,489 108,249 155,806 154,439
Operations and maintenance 2,309,850 2,267,959 2,216,138 2,177,079 2,323,988
Special education 163,291 160,077 157,616 148,588 143,611
Transportation 681,318 675,744 669,718 653,304 643,969
Illinois municipal retirement 291,547 288,994 286,088 277,323 274,114
Debt Service 429,812 427,686 435,376 406,059 371,564
Fire prevention and safety - - - - -
Social Security 291,547 288,994 286,088 282,136 282,093
Working Cash 192,696 189,404 187,355 183,479 180,653
Total levies extended 18,655,229 18,349,575 17,920,025 17,541,758 17,132,998
Collected in first year of levy 9,953,173 9,027,542 9,058,484 8,790,402 8,953,889
Collected subsequently - 9,290,794 8,807,543 8,729,875 8,021,811
Total collections 9,953,173$ 18,318,336$ 17,866,027$ 17,520,277$ 16,975,700$
Percentage collected in first year 53.35%49.20%50.55%50.11%52.26%
Percentage collected in total 53.35%99.83%99.70%99.88%99.08%
Note: The District's ability to increase property tax levels is limited by the Property Tax Extension
Limitation Act passed by the Illinois legislature in 1994. The legislation limits the levy increase
to the lesser of the increase in consumer price index or five percent of existing property values.
Tax rates represent the dollars paid for each hundred dollars of assessed value.
Source of information: DuPage County Levy, Rate, and Extension Reports for 2012-2021.
Bloomingdale School District No. 13
Property Tax Rates, Extensions and Collections
Last Ten Tax Levy Years
96
2016 2015 2014 2013 2012
2.3474 2.4935 2.5362 2.4050 2.1781
0.0286 0.0302 0.0732 0.0694 0.0184
0.4343 0.4612 0.4721 0.4476 0.4094
0.0266 0.0281 0.0287 0.0272 0.0248
0.1189 0.1262 0.1291 0.1224 0.1119
0.0505 0.0535 0.0548 0.0519 0.0474
0.0701 0.0759 0.0722 0.0690 0.0634
-
0.0522 0.0554 0.0567 0.0537 0.0491
0.0334 0.0353 0.0361 0.0342 0.0313
3.1620 3.3593 3.4591 3.2804 2.9338
12,442,155$ 12,345,369$ 12,062,603$ 11,860,155$ 11,742,587$
151,591 149,521 348,152 342,243 99,198
2,301,963 2,283,410 2,245,389 2,207,320 2,207,160
140,991 139,124 136,502 134,136 133,702
630,217 624,819 614,022 603,610 603,276
267,670 264,880 260,638 255,943 255,543
371,558 375,783 343,396 340,271 341,802
- - - - -
276,681 274,286 269,675 264,819 264,708
177,033 174,771 171,698 168,656 168,745
16,759,859 16,631,963 16,452,073 16,177,153 15,816,722
8,476,587 8,263,801 8,014,300 7,850,135 7,526,217
8,248,324 8,338,698 8,376,589 8,288,737 8,223,370
16,724,911$ 16,602,499$ 16,390,889$ 16,138,872$ 15,749,587$
50.58%49.69%48.71%48.53%47.58%
99.79%99.82%99.63%99.76%99.58%
97
Total Estimated
equalized Percent Total actual
Tax assessed increase direct taxable
Year Residential Farm Commercial Industrial Railroad valuation (decrease)tax rate value
2021 569,229,204$ 5,710$ 46,719,790$ 9,681,760$ -$ 625,636,464$ 2.40 2.9818 1,876,909,392$
2020 556,629,619 5,190 44,880,860 9,464,790 - 610,980,459 2.72 3.0033 1,832,941,377
2019 538,953,088 4,190 44,285,440 11,533,900 - 594,776,618 (1.13) 3.0129 1,784,329,854
2018 541,214,014 3,800 50,226,390 10,125,030 - 601,569,234 5.56 2.9160 1,804,707,702
2017 507,929,761 3,460 51,418,150 10,532,800 - 569,884,171 7.52 3.0064 1,709,652,513
2016 468,375,398 3,150 51,069,300 10,591,990 - 530,039,838 7.06 3.1620 1,590,119,514
2015 436,084,690 2,860 48,813,760 10,200,740 - 495,102,050 4.10 3.3593 1,485,306,150
2014 416,721,017 2,600 48,766,100 10,127,450 - 475,617,167 (3.55) 3.4591 1,426,851,501
2013 431,997,768 2,360 50,671,460 10,474,160 - 493,145,748 (8.53) 3.2804 1,479,437,244
2012 472,503,560 2,150 54,029,590 12,585,350 - 539,120,650 (10.09) 2.9338 1,617,361,950
Note: Property in DuPage County is reassessed once every four years on average. The county assesses property at approximately
33 1/3% of actual value. Estimated actual value is calculated by dividing assessed value by this percentage. Tax rates are per $100 of
assessed value.
Source of information: DuPage County Levy, Rate, and Extension Reports for the tax levy years 2012 to 2021.
Bloomingdale School District No. 13
Assessed Value and Estimated Actual Value of Taxable Property
Last Ten Tax Levy Years
98
Taxing District 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012
County of DuPage 0.1587 0.1609 0.1655 0.1673 0.1749 0.1484 0.1571 0.1646 0.1644 0.1547
County Health Department 0.0000 0.0000 0.0444 0.0364 0.0364 0.0364 0.0400 0.0411 0.0396 0.0382
Forest Preserve District 0.1177 0.1205 0.1242 0.1278 0.1306 0.1514 0.1622 0.1691 0.1657 0.1542
Bloomingdale Township (1)0.1605 0.1543 0.1814 0.1876 0.2040 0.1945 0.2091 0.2274 0.2207 0.1983
Village of Bloomingdale 0.3275 0.3332 0.3197 0.2932 0.2939 0.3066 0.3049 0.2905 0.2773 0.2241
Bloomingdale Fire Protection
District #1 0.6816 0.6866 0.6799 0.6664 0.6422 0.7063 0.7475 0.7604 0.7237 0.6462
Bloomingdale Park District 0.4485 0.4536 0.4562 0.4457 0.4581 0.4011 0.4225 0.4334 0.4154 0.3761
Bloomingdale Public Library 0.3139 0.3244 0.3333 0.3256 0.3379 0.3511 0.3731 0.3786 0.3583 0.3271
Community High School
District Number 108 2.0303 2.2455 2.2683 2.2863 2.3489 2.4698 2.6236 2.7083 2.5755 2.3318
Community College
District No. 502 0.2037 0.2114 0.2112 0.2317 0.2431 0.2626 0.2786 0.2975 0.2956 0.2681
DuPage Airport Authority 0.0144 0.1480 0.0141 0.0146 0.0166 0.0176 0.0188 0.0196 0.0178 0.0168
Total overlapping rate 4.4568 4.8384 4.7982 4.7826 4.8866 5.0458 5.3374 5.4905 5.2540 4.7356
2.9818 3.0033 3.0129 2.9160 3.0064 3.1620 3.3593 3.4591 3.2804 2.9338
Total rate 7.4386 7.8417 7.8111 7.6986 7.8930 8.2078 8.6967 8.9496 8.5344 7.6694
(1) Includes Bloomingdale Township Road and Bridge
Note: The totals depicted reflect typical tax rates for individual taxpayers within the District. By showing all other
overlapping rates, we would have materially distorted the true picture of tax burden within the District.
* Tax rates represent the dollars paid for each hundred dollars of assessed value.
Source of information: DuPage County Clerk's office
Bloomingdale Elementary School
District No. 13
Bloomingdale School District No. 13
Typical Property Tax Rates - Direct and Overlapping
Governments*
Last Ten Tax Levy Years
99
Name Type of Business
2022 Equalized
Assessed
Valuation
Medinah Country Club Country Club 9,261,070$ 1.48 %
LPF Addison, LLC Industrial 4,193,560 0.67
Medinah Land LP Industrial 4,124,960 0.66
Mr Springbrook LLC Retail Space 3,989,554 0.64
Exeter 2349 W Lake Street Office Building 3,576,850 0.57
Bloomingdale Memory Care Memory care 2,244,680 0.36
Sunrise BLMD Assisted Living Assisted Living Facility 1,957,670 0.31
250 West LLC Commercial 1,848,000 0.30
Columbia IL 1350 Greenbriar Industrial 1,591,070 0.25
Royal Management Corp Business Consultant 1,549,330 0.25
Total 34,336,744$ 5.49 %
2014 Equalized
Assessed
Valuation
1st Hospitality Group Hotel/Resort 9,248,230$ 1.94 %
Shoen & Co.Financial Advisor 3,297,480 0.69
LPF Addison, LLC Industrial 2,972,300 0.62
Medinah Country Club Country Club 2,854,850 0.60
VTH 6 LLC Office Center 2,852,740 0.60
Thomas Reuters Corp Center Office Space 2,557,350 0.54
Royal MNGT Corp Nursing and long-term care 1,925,860 0.40
Sunrise BLMD Assisted Living Assisted Living Facility 1,917,670 0.40
Hamilton Partners Inc
Commercial, retail and industrial
real estate developer 1,702,570 0.36
L B Anderson & Co Inc.Office Building 1,650,890 0.35
Total 30,979,940$ 6.50 %
Percentage of
total 2022
Equalized
Assessed
Valuation
Percentage of
total 2014
Equalized
Assessed
Valuation
Source of information: DuPage County Clerk's office, Department of Tax Extension and DuPage County Tax
Assessor's office
Bloomingdale School District No. 13
Principal Taxpayers in the District
Year Ended June 30, 2022 and June 30, 2014
100
Direct
and
Debt Overlapping overlapping
outstanding percent debt
Governmental Jurisdiction:
Overlapping Bonded Debt
County:
DuPage County 22,515,000$ 1.42%319,488$
DuPage County Forest Preserve District 89,420,000 1.42%1,268,870
Villages:
Addison 24,740,000 1.19%293,416
Bloomingdale 12,235,000 52.61%6,436,956
Roselle 1,010,000 9.01%91,031
Park Districts:
Bloomingdale 0 57.41%0
Medinah Park District 1,220,000 0.11%1,281
Fire Districts:
Bloomingdale Fire Protection 1,050,000 37.05%388,973
School Districts:
Community High School District 108 8,830,000 26.13%2,307,279
Community College District 502 93,225,000 1.26%1,174,635
Total indirect debt 12,281,929
Bloomingdale Elementary School District No. 13 2,400,000
Total direct and overlapping bonded debt 14,681,929$
Source of information: DuPage County Clerk's office, Department of Tax Extension
Note: Percentage applicable to District calculated using assessed valuation of the School District area
value contained within the noted governmental unit divided by assessed valuation of the
governmental unit.
Note: Direct general obligation bonded debt only. Does not include alternate revenue source bonds or
bonds payable from Motor Fuel Tax, Illinois Bond Fund Tax, or Public Housing Commission loans.
Bloomingdale School District No. 13
Computation of Direct and Overlapping Bonded Debt
June 30, 2022
101
2022 2021 2020 2019
Legal debt limit (6.9% of equalized
assessed valuation)43,168,916$ 42,157,652$ 41,039,587$ 41,508,277$
General bonded debt outstanding
General obligation bonds/leases 2,421,835 2,782,712 3,137,672 2,360,000
Less:
Amounts set aside to repay general debt 110,790 108,997 94,813 124,694
Total net debt applicable to debt limit 2,311,045 2,673,715 3,042,859 2,235,306
Legal debt margin 40,857,871$ 39,483,937$ 37,996,728$ 39,272,971$
Legal debt margin as a percentage of the
legal debt limit 94.65 93.66 92.59 94.61
Note: District changed accounting method from modified cash to accrual in FY17, therefore this schedule
reflects amounts set aside to repay general debt using the accrual basis of accounting for 2022 to 2016.
However, 2015 through 2013 have not been restated, as not considered practical.
Note: According to Illinois Compiled Statutes, the District's general obligation debt shall not exceed 6.9%
of equalized assessed valuation.
Source of information: District's financial records and tax levy information.
Bloomingdale School District No. 13
Legal Debt Margin
Last Ten Fiscal Years
102
2018 2017 2016 2015 2014 2013
39,322,008$ 36,572,749$ 34,162,041$ 32,817,585$ 34,027,057$ 37,199,325$
2,625,000 2,898,704 3,203,474 3,470,694 3,711,548 3,955,851
134,840 126,131 123,137 288,176 281,944 323,300
2,490,160 2,772,573 3,080,337 3,182,518 3,429,604 3,632,551
36,831,848$ 33,800,176$ 31,081,704$ 29,635,067$ 30,597,453$ 33,566,774$
93.67 92.42 90.98 90.30 89.92 90.23
103
Accumulated Percentage
Resources of estimated Percentage
Fiscal Restricted for Net Bonded actual of Net
year ended Total Repayment of Debt taxable value Personal Bonded Debt
June 30,Debt Debt Total of property Income Per Capita
2022 2,400,000$ 110,790$ 2,289,210 0.12 0.21 102
2021 2,740,000 108,997 2,631,003 0.14 0.27 119
2020 3,303,110 94,813 3,208,297 0.18 0.36 147
2019 2,408,464 124,694 2,283,770 0.13 0.26 104
2018 2,688,934 134,840 2,554,094 0.15 0.30 116
2017 2,898,704 126,131 2,772,573 0.17 0.33 125
2016 3,203,474 123,137 3,080,337 0.21 0.38 138
2015 3,470,694 288,176 3,182,518 0.22 0.40 144
2014 3,711,548 281,944 3,429,604 0.23 0.43 156
2013 3,955,851 323,300 3,632,551 0.22 0.46 165
Note: Details regarding the District's outstanding debt can be found in the notes to the financial statements.
See Assessed Value and Estimated Actual Value of Taxable Property for property value data
See Demographic and Economic Statistics for population data
Bloomingdale School District No. 13
Ratios of General Obligation Debt Outstanding
Last Ten Fiscal Years
104
Percentage
Fiscal General Issuance of Outstanding
year ended Bonded Capital (Discount)Personal Debt
June 30,Debt Leases Premium Total Income Per Capita
2022 2,400,000$ 21,835$ 123,692$ 2,545,527$ 0.24$ 114$
2021 2,740,000 42,712 144,565 2,927,277 0.31 133
2020 3,075,000 62,672 165,438 3,303,110 0.37 152
2019 2,360,000 81,755 (33,291) 2,408,464 0.28 109
2018 2,625,000 100,000 (36,066) 2,688,934 0.31 122
2017 2,880,000 57,545 (38,841) 2,898,704 0.35 130
2016 3,130,000 115,090 (41,616) 3,203,474 0.40 144
2015 3,340,000 175,085 (44,391) 3,470,694 0.44 158
2014 3,540,000 218,714 (47,166) 3,711,548 0.47 169
2013 3,735,000 270,792 (49,941) 3,955,851 0.50 180
Note: Details regarding the District's outstanding debt can be found in the notes to the
financial statements.
See Demographic and Economic Statistics for population data
Bloomingdale School District No. 13
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
105
Estimated Percentage
Number of of Total
Firm Village Type of Business Employees Employed
United Parcel Service, Inc.Addison Parcel delivery service 1,400 6.26%
Spraying Systems Co.Glendale Heights Spray nozzles & accessories 1,000 4.47%
The Pampered Chef Ltd Addison Kitchen tools distributor 950 4.24%
Now Health Group, Inc.Bloomingdale Vitamins & nutritional
supplements 650 2.90%
Parts Town, Inc.Addison Distributor of commercial
kitchen equipment parts &
accessories 600 2.68%
Acosta Sales & Marketing Co.Lombard
Agency for the consumer
packaged goods industry 500 2.23%
M& R Sales & Service, Inc.Roselle Printing equipment 475 2.12%
Cornelius, Inc.Glendale Heights Ice makers 450 2.01%
Altorfer Cat Addison Power Generators 400 1.79%
Associated Integrated Supply Addison Company headquarters &
distributor of material handling
400 1.79%
United Parcel Service, Inc.Addison Parcel delivery service 2,700 12.26%
The Pampered Chef Ltd Addison Kitchen tools distributor 950 4.31%
Hilton Chicago Indian Lakes Resort Bloomingdale Hotel & resort 500 2.27%
Now Health Group, Inc.Bloomingdale
Vitamins & nutritional
supplements 400 1.82%
Service Drywall & Decorating Co.Roselle Drywall contractor 350 1.59%
Simplex Grinnell LP Addison
Wholesaler of sprinkler, fire
alarm and security systems 260 1.18%
Nabisco, Inc.Addison Snack foods, cookies and
crackers 250 1.14%
Rex Electric, Inc. & Technologies Addison Electrical contractors 250 1.14%
ACCO Brands Corp.Addison Transparent film extrusion 220 1.00%
Bi-Link Metal Specialties, Inc.Bloomingdale Metal stampings and precision
tool and die job shop 220 1.00%
Source of information: Illinois Manufacturers and Services Directory, 2022 and 2012
Note: Since the District serves parts of Addison, Bloomingdale, Glendale Heights and Lombard,
principal employers in those villages are listed.
2022
2012
Bloomingdale School District No. 13
Principal Employers in the District
Years ended June 30, 2022 and June 30, 2012
106
Per Capita
Calendar Personal Personal Unemployment
Year Population Income Income Rate
2021 22,382 1,072,679,732$ 47,926$ 3.6%
2020 22,018 959,170,134 43,563 5.4%
2019 21,779 900,953,672 41,368 3.7%
2018 22,018 874,532,942 39,719 3.4%
2017 22,016 856,202,240 38,890 4.6%
2016 22,254 833,212,014 37,441 5.0%
2015 22,299 805,997,355 36,145 5.0%
2014 22,028 796,202,060 36,145 6.1%
2013 22,026 796,129,770 36,145 7.7%
2012 22,022 795,985,190 36,145 8.0%
Sources of information:
Community Survey, 2011-2015 and 2016-2020 American Community Survey 5-year Estimates, Census Bureau
Unemployment rate - Illinois Department of Employment Security
Bloomingdale School District No. 13
Demographic and Economic Statistics
Last Ten Calendar Years
107
2022 2021 2020 2019 2018 2017 2016
Regular Instruction 87 90 86 87 86 84 80
Special Education Instruction 13 10 15 10 11 10 10
Attendance & Social Work 3 3 3 3 3 3 3
Health 3 3 3 3 3 3 3
Psychological 1 3 3 3 3 3 3
Speech Pathology & Audiology 2 3 3 3 3 3 3
Educational Media 3 3 3 3 3 3 3
Executive Administration 1 1 2 1 1 1 1
Office of the Principal 5 5 5 5 6 6 6
Direction of Business Support 1 1 1 1 1 1 1
Fiscal Services 2 2 2 2 2 2 2
Operation & Maintenance of Plant 11 11 13 11 11 11 11
Direction of Central Support 5 5 5 5 5 5 5
137 140 144 137 138 135 131
Source of information: District personnel and employment records.
Bloomingdale School District No. 13
Employees by Function
Last Ten Fiscal Years
108
2015 2014 2013
77 71 70
10 9 10
3 3 3
3 3 3
3 3 3
3 3 3
3 3 3
1 1 1
6 5 5
1 1 1
2 2 2
11 10 10
6 6 6
129 120 120
109
2022 2021 2020 2019 2018
DuJardin Elementary School (1964)
Square feet 46,459 46,459 46,459 46,459 46,459
Capacity (students)963 963 963 963 963
Enrollment 395 395 395 395 400
Erickson Elementary School (1993)
Square feet 58,000 58,000 58,000 58,000 58,000
Capacity (students)1,082 1,082 1,082 1,082 1,082
Enrollment 528 528 528 528 446
Westfield Middle School (1975)
Square feet 84,000 84,000 84,000 84,000 84,000
Capacity (students)1,076 1,076 1,076 1,076 1,076
Enrollment 477 477 477 477 493
Administration Building (1964)
Square feet 6,000 6,000 6,000 6,000 6,000
Source of information: District building records
Bloomingdale School District No. 13
School Building Information
Last Ten Fiscal Years
110
2017 2016 2015 2014 2012
46,459 46,459 46,459 46,459 46,459
963 963 963 963 963
394 407 379 376 362
58,000 58,000 58,000 58,000 58,000
1,082 1,082 1,082 1,082 1,082
488 481 473 448 436
84,000 84,000 84,000 84,000 84,000
1,076 1,076 1,076 1,076 1,076
497 411 392 414 416
6,000 6,000 6,000 6,000 6,000
111
Fiscal
Year Expenditures
Cost per
Pupil
2022 $ 16,340,893 1,208 13,529$ 3.46 100 12.1 96.0 %
2021 15,841,677 1,212 13,076 16.69 100 12.1 96.0
2020 15,800,575 1,410 11,206 (7.33) 101 14.0 96.0
2019 16,928,205 1,400 12,092 (1.64) 103 13.6 96.0
2018 16,461,602 1,339 12,294 12.92 104 12.9 96.0
2017 15,013,855 1,379 10,887 (5.01) 100 13.8 96.0
2016 14,887,893 1,299 11,461 (4.24) 90 14.4 96.0
2015 14,887,893 1,244 11,968 2.16 95 13.1 96.0
2014 14,502,780 1,238 11,715 (2.94) 100 12.4 96.0
2013 14,653,348 1,214 12,070 2.99 100 12.1 96.0
Source of information: District personnel and employment records.
Bloomingdale School District No. 13
Operating Statistics
Last Ten Fiscal Years
Enrollment
Percentage
Change
Teaching
Staff
Pupil/
Teacher
Student
Attendance
112