HomeMy WebLinkAboutVillage of Orland Park - Public Financial ReportA
VILLAGE OF ORLAND PARK
FISCAL YEAR ENDING DECEMBER 31,2020
POPULAR ANNUAL
FINANCIAL REPORT
B
Message to
Our Readers
Presented here is the Village of Orland Park’s Popular Annual
Financial Report (PAFR) for the fiscal year ending December 31,
2020. The purpose of the PAFR is to provide the community
with a simplified presentation of the Village’s financial activities
and position, in a transparent and easily understood format.
This report presents summarized financial information from
the Village’s Comprehensive Annual Financial Report,
which is available on the Village’s website at orlandpark.
org/financialreports. The Comprehensive Annual Financial
Report is a more thorough, independently audited financial
presentation prepared in accordance with generally accepted
accounting principles (GAAP). The Village received an
unmodified opinion on its Comprehensive Annual Financial
Report, meaning that the financial statements fairly present
the financial position and operations of the Village.
The Popular Annual Financial Report is not required to present
the same level of detail as the Comprehensive Annual Financial
Report. Financial data for the primary government is included
in the PAFR, mainly focusing on the Village’s governmental
activities. The Village has component units (such as Historical
Museum Foundation, E-911 fund, etc.) whose financial activities
are included in the Comprehensive Annual Financial Report, but
they are not part of the financial information presented here.
Award for
Presented to
Village of Orland Park
Executive Director/CEO
For its Annual Financial Reportfor the Fiscal Year Ended
December 31, 2019
Financial ReportingPopular AnnualAchievement inOutstanding
Text38:Illinois
Government Finance Officers Association
The Village has applied for
and received the Government
Finance Officers Association
(GFOA) Award for Outstanding
Achievement in Popular Annual
Financial Reporting for the
past 4 years. The award
shown is for last year’s report.
GFOA Award
1
ELECTED OFFICIALS
Keith Pekau
Mayor
Patrick O’Sullivan
Village Clerk
TRUSTEES
William Healy Sean Kampas
Joni Radarszewski
Cynthia Katsenes
Brian Riordan
Michael Milani
VILLAGE STAFF
Village Manager
Assistant Village Manager
Chief of Police
Director of Development Services
Director of Engineering Programs & Services
Finance Director
Human Resources Director
Information Technology Director
Public Works Director
Director of Recreations & Parks
George Koczwara
Greg Summers
Joe Mitchell
Ed Lelo
Khurshid Hoda
Kevin Wachtel
Denise Maiolo
David Buwick
Joel Van Essen
Ray Piattoni
The Village of Orland Park| Village Organization
The Village of Orland Park| Table of Contents
1
ABOUT THE VILLAGE OF
ORLAND PARK
EXPENDITURES -
WHERE THE MONEY GOES
3
4
5
6
8
10
ORLAND PARK BY
THE NUMBERS
11
12
WHERE THE MONEY
COMES FROM
13
14
15
16
18
19
20
CAPITAL INVESTMENTS -WHAT WE OWN
21
22
LONG TERM DEBT -
WHAT WE OWE
23
24
25
VILLAGE OFFICIALS & STAFF
MESSAGE FROM THE FINANCIAL DIRECTOR
VILLAGE ORGANIZATIONAL CHART
ORLAND PARK PROFILE
ALLOCADES, LOCATION &
DEMOGRAPHIC
WHAT WE DO
COMMUNITY DEVELOPMENT
ORLAND PARK BY THE NUMBERS
2020 BALANCE SHEET
GOVERNMENT FUNDS & REVENUE
TRENDS
REVENUE BY SOURCE
BREAKDOWN OF TAXES
PROPERTY TAXES
LAND USE PERCENTAGE
EXPENSES BY FUNCTION
BUDGETED EMPLOYEES & EXPENDITURE TREND
FIVE YEAR CAPITAL INVESTMENT &
CAPITAL ASSETS BY CATEGORY
REHABILITATION & CONSTRUCTION
VILLAGE DEBT
2020 SIGNIFICANT DEBT ACTIVITY
LONG TERM DEBT
VillageOrlandPk villageoforlandpark VillageofOrlandParkVillageofOrlandParkVillageOrlandPkvillageoforlandparkVillageofOrlandParkVillageofOrlandPark
VillageOrlandPk villageoforlandpark VillageofOrlandParkVillageofOrlandParkVillageOrlandPkvillageoforlandparkVillageofOrlandParkVillageofOrlandPark
26 CONTACT INFORMATION
3
It is my pleasure to present the Popular Annual Financial
Report (PAFR) to the Orland Park community. This
financial report highlights important financial information
for the Village of Orland Park and provides a high
level overview of the Village’s financial condition. This
PAFR is made available in a format that allows all
stakeholders an understanding of the Village finances,
which is a hallmark of transparency and accountability.
The Village of Orland Park offers a wide variety of services to
the community, including Police, Recreation & Parks, Public
Works, and Development Services. We have many parks,
trails, and recreational opportunities throughout the community
and offer several events throughout the year. In addition,
Orland Park serves as a premiere retail hub as the tenth
highest sales tax generating community in Illinois. The Village provides critical infrastructure
such as road and sidewalks, water and sewer service, and storm water management.
Providing and maintaining these programs and infrastructure requires investment of
tax dollars and user fees, which must be accounted for and reported. You can find
our complete Comprehensive Annual Financial Report on the Village’s website
(www.orlandpark.org). The Comprehensive Annual Financial Report includes more
detailed financial statements, footnotes, supplemental information, and statistics.
Please contact me at kwachtel@orlandpark.org if you have any questions or to learn more.
Sincerely, Kevin Wachtel | Finance Director
Leadership | Message from the Financial Director
4
The Village of Orland Park| Village Organization
Residents of Orland Park
Village President/Mayor Village Board of Trustees Village Clerk
Assistant Village Manager
Public Works Director
Development Services
Director
Information Technology
Director
Engineering Director
Chief of Police
Recreations & Parks Director
Human Resources Director
Finance Director
Elected Officials
Appointed Members
Village Executive Staff
Legend:
Boards & Commissions
Village Manager
5
Located 25 miles southwest of downtown Chicago, the
Village has grown into an upscale suburban community
of approximately 58,000 residents, with full build-out
population expected to peak at approximately 75,000.
The Village utilizes the council-manager form of
government and is directed by a board of six
trustees and a Village president. The council-
manager form of government has been adopted
by many local communities with a population of
more than 25,000 and governs more than 3,000
cities and municipalities in the United States.
The Board of Trustees constitutes the primary policy
making body of the Village. The Board determines
Village policy, approves the annual budget, levies taxes,
authorizes the payment of bills, approves bids and contracts
involving Village business, and adopts Village ordinances.
Since 1984, when home rule status was obtained, a Village Manager has been
appointed as the Chief Administrative Officer of the Village. The Village Manager
is directly responsible to the Board of Trustees for the proper administration of all
day-to-day affairs of the Village. He is vested with the enforcement of all Village
laws and ordinances, and has the authority to appoint and direct all employees.
The Village encourages communication with its residents. A wide range of information is available
online, at www.orlandpark.org, such as meeting dates and times, community events, and
more. The Village also utilizes various social media platforms to communicate with its residents.
ABOUT THE VILLAGE
The Village of Orland Park| Orland Park Profile
VillageOrlandPk villageoforlandpark VillageofOrlandParkVillageofOrlandParkVillageOrlandPkvillageoforlandparkVillageofOrlandParkVillageofOrlandParkVillageOrlandPkvillageoforlandparkVillageofOrlandParkVillageofOrlandParkVillageOrlandPkvillageoforlandparkVillageofOrlandParkVillageofOrlandPark
6
ORLAND PARK AND
TRINITY SERVICES
AWARDED A
USDOJ GRANT FOR
MENTAL HEALTH
The three-year grant has allowed the Orland Park Police
Department, in partnership with Trinity Services, to develop
and implement a regional cross-system collaboration program
that will enhance the outcomes for persons with mental illness
or co-occurring mental illness and substance abuse who come
in contact with law enforcement. This awarded project has
specifically targeted recidivism, the use of a diversionary
program in lieu of an arrest and train approximately 300 law
enforcement officers in mental health first aid and drug abuse
awareness.
GFOA TRIPLE
CROWN FOR 2019
- CERTIFICATE OF
ACHIEVEMENT
FOR EXCELLENCE
IN FINANCIAL
REPORTING,
POPULAR ANNUAL
FINANCIAL REPORT
AWARD, AND
DISTINGUISHED
BUDGET
PRESENTATION
AWARDS
The Village of Orland Park is one of only 24 governments
in Illinois, and 231 governments in the United States and
Canada, to achieve the GFOA’s Triple Crown of Financial
Reporting Awards.
The Certificate for Excellence in Financial Reporting was
awarded to the Village for its fiscal year 2019 Comprehensive
Annual Financial Report. This award is granted in recognition of
transparency and full disclosure that goes beyond the minimum
requirements of generally accepted accounting principles. The
Village has received this award for 33 consecutive years. We
have submitted our 2020 Comprehensive Annual Financial
Report for consideration of this prestigious award, and we are
confident it continues to meet the program’s high standards.
Since fiscal year 2006, the Finance Department has been
awarded the GFOA Distinguished Budget Presentation Award.
To qualify for this award, the Village’s budget document is
judged to be outstanding as a financial policy document,
operations guide and communications device.
The Village has prepared this Popular Annual Financial Report
for the past 5 years, receiving recognition for each of our prior
reports, which focuses on providing financial information in a
transparent manner that can be understood by non-accountants.
2020 | Accolades
7
The Orland Park Police Department received first place honors
in the Illinois Association of Chiefs of Police Traffic Safety
Challenge Champions Class. Departments only compete in
the Champions Class after previously winning a Traffic Safety
Challenge. The winning presentation detailed efforts to
promote safety belt use, correctly installing child safety
seats, speed enforcement, impaired driving enforcement and
distracted driving.
2020 | Accolades, Location and Demographics
ILLINOIS TRAFFIC
SAFETY CHALLENGE
CHAMPIONS CLASS
AWARD
POPULATION
(ACS)
58,703
MEDIAN AGE 43
MEDIAN
HOUSEHOLD
INCOME
$90,345
PER CAPITA
INCOME
$43,940
MEDIAN HOME
VALUE
$287,700
HOMEOWNERSHIP
RATE
87.2%
UNEMPLOYMENT
RATE
10.9%
BACHELOR’S
DEGREE OR
HIGHER
44.4%
QUICK FACTS
The Village of Orland Park received the 2020 StarGuard
award in recognition of the Centennial Park Aquatic Center’s
(CPAC) efforts as above the industry standard, reflecting a
proactive approach to aquatic risk prevention. CPAC also
earned a five-star safety rating, the highest rating possible.
2020 STARGUARD
ELITE AWARD
LOCATION
The Village of Orland Park| What We Do
PUBLIC SAFETY
The Orland Park Police Department is committed
to responding to the needs of and establishing
a working relationship with the Orland Park
community. Events such as National Night
Out Against Crime, Cook Out with the Cops,
Citizens Police Academy and Coffee With the
Cops work to strengthen community relationships.
Orland Park had the lowest number of index
crimes (murder, sex assault, robbery, aggravated
assault and battery, burglary, theft, motor vehicle
theft, arson and human trafficking) since 1994.
In addition, according to the FBI 2019 annual
statistics for Crime in the United States, Orland Park
had the second lowest number of violent crimes
(26) of any community over 50,000 in Illinois.
PUBLIC WORKS
Repair and replacement of aging infrastructure
continued to be a Village priority in 2020.
The Village street maintenance program spent
$8.2 million to replace, repair and maintain
aging streets, curbs, gutters and sidewalks.
In addition, the village continues to prioritize
the maintenance of the aging water main
system. In 2020, over $4.4 million was
spent on replacement and rehabilitation of
existing water main throughout the village.
The Village holds many community
events throughout the year,
which are administered by the
Recreation Department with
logistical support provided
by the Parks Division.
These events include
the Taste of Orland,
Turkey Trot,
free concerts
at Centennial
Park West and
Crescent Park, a
Ticketed Concert
at Centennial
Park, Market
at the Park,
Easter Egg
Hunt, Brewfest,
Pumpkin Party
and Winter
Festival. Staff
also supports
many non-profit
organizations
and community
outreach programs.
The Recreation &
Parks Department has
consistently provided
access to premier
recreation and leisure
locations and amenities that
reflect the changing needs of a
growing diverse population.
9
RECREATION & PARKS
4,500 park trees
95-acre, stocked lake
55 playgrounds
25K sq. ft. outdoor water park
Outdoorice rink
90K sq. ft. sports recreation and fitness center
78K sq. ft. health and fitness center
63 miles of walking & bicycle paths
Over 100 athletic fields and courts
The Village’s
Recreation & Parks
Departments works
to support and
maintain more than
800 acres of public
space including 64
park properties,
which include:
10
In 2020,
the Village
continued to
experience
growth in both
residential and
commercial
development.
The
Development
Services
Department
issued:
COMMUNITY
DEVELOPMENT
MAJOR DEVELOPMENT PROJECTS INCLUDED:
Single
Family Home:
$9,023,360
21
671
5
PERMITS
ISSUED
2,557
Villas of Cobblestone: 18 Dwelling Units | 9 Duplex Building
Orland Ridge: 57.72-Acre Mixed-Use Development
104 Attached Dwelling Units | 190 Attached Townhomes
Sertoma Centre: 3-Story | 16 Dwelling Unit Multi-Family Building
Commercial Remodel
& Additions:
$22,622,907
Other
Residential Related:
$24,161,448
Townhome:
$35,470,000
New Commercial:
$10,350,000
$ = valuation$ = VALUATION
LEGEND:
281
Townhomes at Collete Highlands: 60 Unit Townhome Development
10
Megan Nicole Ridge: 9 Single-Family Home Lots
Orland Ridge Townhomes
11
The Village of Orland Park| Orland Park By The Numbers
Government financial statements are designed to provide readers with a broad overview
of the Village’s finances, consistent with a private-sector business presentation. Government
financial statements distinguish functions of the Village into government activities and business
type activities. Government activities are ones that are principally supported by taxes and
intergovernmental revenues. Business type activities are intended to recover all or a significant
portion of associated costs through user fees and charges, similar to private business.
The Village’s governmental activities include administration & finance, public safety,
development & engineering services, public works and recreation & parks. Business-type
activities of the Village include the water and sewerage system and the commuter parking lots.
Government financial statements are provided by fund. A fund is a grouping of related accounts
that is used to maintain control over resources that have been segregated for specific activities or
objectives. All of the funds of the Village can be divided into three categories: governmental funds,
proprietary funds (business type activities as listed above) and fiduciary funds (such as trust funds).
A budgetary system is maintained for all funds and serves as the foundation of the Village’s
financial planning and control. The budget for fiscal year 2020 was developed using a
“target budget” process. Target budgeting adheres to the premise that the Village provides
certain basic services and attempts to “target funds” for these basic service levels. Beyond
these basic service levels, additional services are considered discretionary and are evaluated,
prioritized, and matched against available revenues. Patterns of service can therefore
be modified to meet the changing needs of the Village without disrupting basic services.
12
The Balance Sheet presents information on what the Village’s owns (assets) and owes
(liabilities) as of a specific moment in time. The difference between total assets and
liabilities are reported as the net position, which represents the Village’s investment in the
assets it uses to provide services to the community. Over time, increases or decreases in the
Village’s net position may serve as a useful indicator of whether the financial position of the
Village is improving, deteriorating or remaining constant.
The Village’s net position for Government Activities as of December 31, 2020 increased
11.59% to $70,434,117 over the net position as of December 31, 2019.
The Village’s net position for Business Activities as of December 31, 2020 increased 1.87%
to $165,666,731 over the net position as of December 31, 2019.
The Village of Orland Park| 2020 Balance Sheet
GOVERNMENTAL ACTIVITIES BALANCE SHEET
BUSINESS ACTIVITIES BALANCE SHEET
2020 2019 Change
Assets $179,969,767 $175,415,735 $4,554,032
Liabilities $14,303,036 $12,792,626 $1,510,410
Net Fund Balance $165,666,731 $162,623,109 $3,043,622
2020 2019 Change
Assets $142,135,900 $131,321,863 $10,814,037
Liabilities $71,701,783 $68,205,121 $3,496,662
Net Fund Balance $70,434,117 $63,116,742 $7,317,375
Government Revenue is money received from taxes and non-tax sources to enable it to
undertake government expenditures (amounts spent). The primary revenues of the Village
of Orland Park included taxes, licenses & permits, intergovernmental revenue, charges for
services, investment income and fines and forfeitures.
The decrease in governmental revenues of
$5,313,032 or -7.42% when comparing
the year ended December 31, 2020 to
December 31, 2019 is primarily due
to the Covid-19 government mandated
quarantine, direct impact on sales tax
revenues. Higher revenues in 2017 were
due to a onetime payment received in
2017 from the liquidation of the Village’s
interest in a public-private partnership
related to the Ninety 7 Fifty on the Park
development. Additionally, 2016 revenues
include a one-time reimbursement from the
University of Chicago for cost incurred in
the construction of the parking deck.
Governmental activities are mostly
supported by taxes, such as property
and sales taxes, and intergovernmental
revenues. Intergovernmental revenues
continue to be the largest governmental
revenue source for the Village comprising
41% of total governmental revenues.
Intergovernmental revenues include state
shared revenue for Sales Tax, Income
Tax, Motor Fuel Tax, Use Tax, and other
taxes collected and distributed by the
State of Illinois.
REVENUE TREND
The Village of Orland Park| Where the Money Comes From
GOVERNMENTAL FUNDS
2017
2018
2019
2020$71,627
$90,708
$76,940
$73,995
13
$ = valuation$ = SHOWN IN 1,000’S
14
1%
REVENUES BY SOURCE
Governmental activities are mostly supported by taxes, such as property and sales taxes,
and intergovernmental revenues. Intergovernmental revenues continue to be the largest
governmental revenue source for the Village comprising 41% of total governmental revenues.
Intergovernmental revenues include state shared revenue for sales tax, income tax, motor fuel
tax, use tax, and other taxes collected and distributed by the State of Illinois.
INVESTMENT
INCOME
INTERGOVERNMENTAL
CHARGES FOR
SERVICES
TAXES LICENSES AND
PERMITS
FINES AND
FORFEITURES
41%
35%
11%REVENUESBY SOURCE
3%
2%
1%
MISCELLANEOUS
14
15
INTERGOVERNMENTALTAXES CHARGES FOR SERVICESLICENSES AND PERMITS INVESTMENTINCOME FINES ANDFORFEITURES MISCELLANEOUS
$26.1
$24.8
$2.9 $1.9
$31.9
$33.8
$11.8
$7.9
$1.6 $1.5 $1.2 $0.9 $1.4 $0.8
0
5
10
15
20
25
30
35
Total: $76,939,681
2019
Total: $73,995,387
2020
Miscellaneous: includes
any revenues not accounted
for in the categories
above. This category
tends to fluctuate as one-
time revenue sources are
received by the Village.
Taxes: includes home
rule sales tax, property
tax, hotel occupancy
tax, cable franchise tax,
video gaming tax and
telecommunications tax.
Licenses and Permits:
includes business,
contractor, vehicle,
and liquor licenses,
and new and existing
construction permits.
Intergovernmental:
includes general sales
tax, income and use taxes
and motor fuel tax.
Charges for Services:
includes fees for recreation
programs and events,
rental fees, and other
miscellaneous service fees.
Investment Income: includes
income earned through
the investment of available
cash that is pooled from
various governmental funds,
following the Village’s
investment policies.
Fines and Forfeitures:
includes circuit court fines,
and fines for municipal
and ordinance violations.
$ = SHOWN IN MILLIONS
16
Other Taxes: include
hotel occupancy tax,
cable franchise tax,
video gaming tax and
telecommunications tax.
Sales Tax: the largest
tax (34%) revenue is
the 1% general sales
tax collected by the
state on eligible sales
within the Village.
Home Rule Sales Tax:
0.75% home rule sales
tax is received on eligible
sales within the Village.
Property Tax: the second largest tax
(26%) revenue is property taxes which are
levied by the Village to property owners.
The Village has lowered the lax levy for
the first time in 10 years to reduce the tax
burden on our residents and businesses
Income & Use Tax: income
and use taxes are collected
by the State and distributed
to the Village on a per
capita basis.
Motor Fuel Tax: fuel
taxes are collected
by the State on
gas purchases and
distributed to the Village
on a per capita basis.
34%
26%
15%BREAKDOWN OF TAXES RECEIVED
16%
3%
6%
16
17
PROPERTY TAXES
The Village’s property tax rate continues to remain stable as the Village Equalized Assessed
Valuation (EAV) rebounds from prior year declines.
Since 2012, the Village’s overall property tax levy amount was lowered to $13.02 million.
The Village’s efforts to continuously enhance development within the Village contain costs
and minimize taxes collected from its residents, along with the recovery of property values,
are reflected in the Village property tax rate.
2009
$2.80 $2.77
$2.37
$2.18 $2.06 $2.01 $1.95 $2.05
$2.34 $2.28
2010 2011 2012 2013 2014 2015 2016 2017 2018
Equalized Assessed Valuation ($Billions)Village Property Tax Rate
$0.44 $0.48 $0.57 $0.61 $0.65 $0.67 $0.69 $0.65 $0.57 $0.59
$2.28
2019
$0.59
Top 10 Real Estate Taxpayers 2019 EAV
Simon Property Group $82,190,338
IRC: Orland Park Road, Ravinia Park Plaza $49,266,869
Village of Orland Park $46,084,075
Lakeview Plaza $24,852,027
Metra Triangle LLC $13,058,670
Constance Oswald $12,202,504
B&G Realty Co.$11,330,742
Edwards Realty Co.$11,002,242
Ryan LLC $9,289,886
Residents of Orland Crossing $8,912,976
$268,190,329
Simon Property Group
18
40%
10%2%
2%
34%
OTHER-OPEN LANDS & RIGHT OF WAY
RESIDENTIAL
2%
9%
1%
UNDEVELOPED
COMMERCIAL
OFFICE
CIVIC & INSTITUTIONAL
INDUSTRIAL & MANUFACTURING
MIXED USE
LAND USE – PERCENTAGE OF TOTAL ACREAGE
19
Government expenditures are amounts spent on the acquisition of goods and provision of
services for residents. The primary expenditures of the Village of Orland Park include those
for public safety, the administration of the Village, culture and recreation, capital outlay
and debt service. The Village’s governmental activities’ expenses are categorized into the
following functions, which are typical to most municipal governments.
EXPENDITURES BY FUNCTION
Debt Service: includes
payments related
to outstanding debt
obligations.
The Village of Orland Park| Where the Money Goes
General Government:
includes the departments
of administration, finance,
building maintenance,
officials and other general
administration.
Public Safety: includes
the police and emergency
service disaster agency
(ESDA) departments.
Planning and Development:
includes planning, code
enforcement, transportation
and engineering.
Public Works: includes
streets, transportation and
vehicle and equipment
departments.
Recreation and Parks:
includes the Village’s parks,
recreational facilities,
programs and general
recreation administration.
Capital Outlay: includes
capital expenditures related
to Village infrastructure and
equipment.
PUBLIC
SAFETY
GENERAL
GOVERMENT RECREATION & PARKS
CAPITAL OUTLAY DEBT SERVICEPUBLICWORKSPLANNING &
DEVELOPMENT
Total: $79,068,4912019
Total: $77,394,608
2018
$20
,
7
7
5
,
4
8
9
$20
,
5
9
4
,
7
3
7
$13.8
$14.4
$20.8
$22.8
$2.9 $2.8
$7.0 $7.2
$12.9
$11.3 $11.8
$10.2 $10.2
$6.8
0
5
10
15
20
25
INTERGOVERNMENTALTAXES CHARGES FOR SERVICESLICENSES AND PERMITS INVESTMENTINCOME FINES ANDFORFEITURES MISCELLANEOUS
$26.1
$24.8
$2.9 $1.9
$31.9
$33.8
$11.8
$7.9
$1.6 $1.5 $1.2 $0.9 $1.4 $0.8
0
5
10
15
20
25
30
35
Total: $76,939,681
2019
Total: $73,995,387
2020
$ = SHOWN IN MILLIONS
2020 BUDGETED EMPLOYEES BY FUNCTION
EXPENDITURES
TREND
Expenditures in 2017 reflect
significantly higher debt
service costs than 2018
through 2020 due to the
liquidation of the Village’s
interest in the Ninety 7 Fifty
on the Park development
as debt related to the
development was paid off
utilizing proceeds from the
liquidation.
PLANNING & DEVELOPMENT
GENERAL GOVERNMENT
PUBLIC WORKS
PUBLIC SAFETY130
65
51 20
17
6
38
631
31
13
CULTURE & RECREATION
2020201720182019
$75,594
$113,784
$79,068$73,395
Full-Time EmployeesTotal: 267
Part-Time EmployeesTotal: 735
$ = SHOWN IN 1,000’S
20
21
Governmental
Activities
Business-Type
Activities
Village
Total
Land $155.2 $34.5 $189.6
Buildings & Land Improvements $99.9 $10.1 $110.0
Centennial Pool $11.7 -$11.7
Machinery, Vehicles, & Equipment $18.1 $5.5 $23.6
Infrastructure $178.2 $213.8 $392.0
Construction in Progress $5.6 $1.2 $6.7
Less: Accumulated Depreciation ($184.9)($97.0)($281.9)
Total $283.8 $168.0 $451.8
FIVE YEAR CAPITAL INVESTMENT
CAPITAL ASSETS BY CATEGORY
Investments in Capital Assets | What We Own
The Village continues to invest in its capital assets. Assets procured primarily with tax
resources are classified as governmental, while capital assets associated with fee-based
operations have a business-type classification.
2016 201920172018
$7.4
2020
Governmental Activities Business-Type Activities
$10.2
$4.8
$23.5
$6.9
$5.9
$11.6
$9.8
$4.6
$6.5
0
5
10
15
20
25
$ = SHOWN IN MILLIONS
$ = SHOWN IN MILLIONS
Capital outlay in 2020 funded the construction and rehabilitation of multiple street, water
main and storm water infrastructure projects throughout the Village. In the past 5 years, the
Village has invested approximately $91 million in capital improvements. Below are some of
the highlights:
• Neighborhood Road Improvement
Program
• Fairway Estates Main Water and Storm
Water Improvements
• Fernway Subdivision Roadway and
Ditch Grading Improvements
• Programmable Logic Controller
Modernization for All Water and Waste
Facilities
• Elevated Take 5 Rehabilitation
• Sportsplex Phase 2 HVAC Energy
Saving Contract and Improvement
• John Humphrey Complex Renovation,
Phase II
• 151st Street Improvements
• Playground Renovations
• Roofing Restoration for Public Works
Administration and V&E Building
• Sanitary Sewer Rehabilitation
REHABILITATION AND CONSTRUCTION PROJECTS
Village of Orland Park Sportsplex
22
23
The Village’s policy for issuance of long-term debt confines borrowing to significant
capital improvements only if current revenue sources are not available. At the end of
fiscal year 2020, the Village had total debt outstanding of $73.5 million, an increase of
approximately $7.3 million, or 9.93% higher than fiscal year 2019.
Long Term Debt | What We Owe
2012 201520132014 2016 2018 2019 20202017
$92.3
$122.4 $120.7 $117.6
$109.6
$78.6
$70.4 $66.2
$73.5
0
30
60
90
120
150
VILLAGE DEBT - PRINCIPAL OUTSTANDING
$ = SHOWN IN MILLIONS
24
The Village of Orland Park continues to receive high ratings from the two major bond ratings
agencies. In 2019 and again in 2021, Standard and Poor’s affirmed the Village’s AA+
rating, noting that the rating reflects the Village’s very strong economy, management and
financial policies, budgetary flexibility, and liquidity. Moody’s also reaffirmed its Aa1 rating
for the Village, due to the Village’s large and affluent tax base and healthy financial profile.
As a home rule municipality, there are no limits imposed by the State of Illinois on long-term
borrowing. However, the Village’s debt to EAV ratio, at 3.23%, is well below the 8.625%
limit on non-home rule municipalities.
The Village borrowed additional funds for capital projects through existing Lines
of Credit. The Village drew $11,643,499 for Governmental Activities and
$2,505,000 for Business-type activities.
Total outstanding Lines of Credit ($14,769,499 for Governmental Activities and
$3,000,000 for Business-type Activities) were subsequently refunded by G.O.
Bonds in 2021.
2020 SIGNIFICANT DEBT ACTIVITY INCLUDED:
02
03
All general obligation notes and bonds payable are backed by the full faith and credit of
the Village. Notes and bonds in the governmental funds will be retired by future property tax
levies or tax increments accumulated by the debt service fund.
Long Term Debt | Debt Activity
VILLAGE RATINGS
CAPITAL PROJECT
OUTSTANDING LINES
OF CREDIT
FUNDING
25
All general obligation notes and bonds payable are backed by the full faith and credit of
the Village. Notes and bonds in governmental funds will be retired by future property tax
levies or tax increments accumulated by the debt service fund. As a home rule municipality,
there are no limits imposed by the State of Illinois on long-term borrowing. However, the
Village’s debt to EAV ratio, at 3.23%, is well below the 8.625% limit on non-home rule
municipalities.
LONG TERM DEBT
Governmental Debt Business Type Debt
$8.6
$64.8
FREDERICK T. OWENS VILLAGE HALL
14700 S. RAVINIA AVE.
ORLAND PARK, IL 60462
orlandpark.org
Please visit orlandpark.org to
view the full Comprehensive
Annual Financial Report.
$ = SHOWN IN MILLIONS
PREPARED BY:
Village of Orland Park
Finance Department
14700 S. Ravinia Ave.
Orland Park, IL 60462
DESIGN THEME BY:
Village of Orland Park
Communications &
Marketing Department
14700 S. Ravinia Ave.
Orland Park, IL 60462
FREDERICK T. OWENS VILLAGE HALL
14700 S. RAVINIA AVE.
ORLAND PARK, IL 60462
orlandpark.org
November 10,2021