HomeMy WebLinkAboutCity of Woodstock - Public Financial ReportLETTER FROM THE MAYOR
THE POPULAR ANNUAL
FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED APRIL 30, 2021
GOVERNMENTAL FUNDS: Page 2
BUSINESS-TYPE ACTIVITIES: Page 3
COMPONENT UNIT FUNDS: Page 4
SALES TAX: Page 5
CAPITAL IMPROVEMENT: Page 5
DIVIDING UP THE DOLLAR: Page 6
PROPERTY TAXES: Page 6
ECONOMIC DEVELOPMENT: Page 7
LONG-TERM DEBT UPDATE: Page 8
CITY DIRECTORY: Page 8
Fellow Citizens of Woodstock:
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MAYOR MICHAEL A. TURNER
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Michael A. TurnerMayor
EXPENDITURES
In FY20/21, Capital Outlay was the
most expensive area. This is a direct
result of the almost $10.5 million spent
repaving roads. General Government
was the second most expensive area of
the City. This is a direct result of grants
that were given to area businesses
along with a sales tax incentive given
to the Kunes auto dealership to help
fund their major renovation. The third
largest expenditure category was
Public Safety. This is primarily due to
the large number of personnel that are
required to provide these services.
After Capital Outlay, which is a result
of the enhanced road program, Salaries
continue to be the second highest type
of expenditures. This is a result of the
large portion of programs and services
RIIHUHGE\WKH&LW\UHŴHFWLQJWKHKLJK
quality of life standards provided by its
professional workforce.
Property taxes constitute the largest percentage of revenue for governmental funds at 21.4% of total revenues. While property taxes increased as a result of new construction growth and additional incremental revenue from the City’s two TIFs, property tax as a percentage of total governmental revenue declined 7.5% as the City attempts to shift its revenue balance. It should be noted that in 2020, for
the tenth consecutive year, the City of
Woodstock did not levy an inflationary
property tax increase.
Therefore, as a result, sales taxes now account
for 20.6% of total revenues. Despite the COVID-19
pandemic closing many businesses throughout the City,
VDOHVWD[UHYHQXHZDVXSIURPWKHSULRUƓVFDO\HDU%HVLGHV
the 1% Home Rule sales tax instituted in January 1, 2018 that funded
a 10% property tax reduction, the City receives, as do all other
Illinois municipalities, 1% of the 7% sales tax imposed by the State of
Illinois on all retail sales made within the City limits. Residents are
reminded that shopping locally truly supports both Woodstock
businesses and City Services.
Income taxes for FY20/21 are up 5.8% as a result of strong tax
receipts received by the State of Illinois. Income taxes received are
allocated to municipalities throughout the State on a per-capita basis.
PROPERTY TAXES
REPLACEMENT TAXES
SALES TAXES
TELECOMM. TAXES
INCOME TAXES
INTERGOVERNMENTAL
LICENSES AND PERMITS
HOTEL/MOTEL TAX
MOTOR FUEL TAX
CHARGES FOR SERVICES
FINES AND FEES
INVESTMENT INCOME
MISCELLANEOUS
TRANSFERS (NET)
NET EFFECT OF DEBT ISSUANCE
TOTAL
$8,056,546
$308,183
$7,181,848
$419,602
$2,766,834
$1,400,880
$199,643
$121,268
$682,400
$2,863,100
$677,165
$448,464
$787,812
$467,089
$1,500,000
$27,880,834
$198,792
$(18,847)
$770,471
$(66,909)
$159,627
$2,664,996
$22,029
$(30,149)
$(4,158)
$(422,725)
$(264,790)
$(387,363)
$(9,353)
$(397,573)
$8,499,479
$10,713,527
FY19/20 $
+ (–)FY20/21
$8,255,338
$289,336
$7,952,319
$352,693
$2,926,461
$4,065,876
$221,672
$91,119
$678,242
$2,440,375
$412,375
$61,101
$778,459
$69,516
$9,999,479
$38,594,361
{ INCLUDES OTHER FINANCING SOURCES }
21.4%
FY20/21
PERCENTAGE OF
TOTAL REVENUE
GOVERNMENTAL FUNDS
REVENUES
THE POPULAR ANNUAL
FINANCIAL REPORT
The City in FY20/21 received a number of one-time grants. The largest of these grants in the amount of $1,053,107 was part of the CARES Act that was a direct result of COVID-19 and was intended to pay for additional costs related to dealing with the pandemic. The City also received a DCEO grant in the amount of $300,000 that was supplemented with an additional $200,000 of City funding to area restaurants that were suffering as a result of COVID-19. Lastly, the City received a $75,000 grant from the Community Foundation for McHenry County to develop an action plan to receive an AARP designation as an Age-Friendly livable community.
GENERAL GOVERNMENT
PUBLIC SAFETY
HIGHWAYS AND STREETS
CULTURE AND RECREATION
ECONOMIC DEVELOPMENT
CAPITAL OUTLAY
DEBT SERVICE
TOTAL
$6,162,599
$7,616,081
$1,959,086
$3,999,184
$373,960
$4,411,156
$1,596,720
$26,118,786
$7,736,156
$7,664,004
$2,311,010
$3,200,269
$326,957
$12,687,770
$1,251,782
$35,177,948
$1,573,557
$47,923
$351,924
$(798,915)
$(47,003)
$8,276,614
$(344,938)
$9,059,162
FY19/20 FY20/21
$
+ (–)
FY20/21
FIGURES SHOWN BY
DEPARTMENT TYPES
22.1%
21.8%
6.6%9.1%0.9%
36.0%
3.5%
SALARIES
EMPLOYEE BENEFITS
PERSONAL SERVICES
CONTRACTUAL SERVICES
COMMODITIES
CAPITAL OUTLAY
INTEREST
PRINCIPAL
OTHER CHARGES
TOTAL
$9,406,028
$3,902,559
$183,630
$4,874,404
$1,030,829
$4,425,682
$136,190
$1,460,530
$698,934
$26,118,786
$9,186,036
$4,101,297
$151,145
$5,350,362
$849,963
$12,850,624
$456,253
$795,530
$1,436,738
$35,177,948
$(219,992)
$198,738
$(32,485)
$475,958
$(180,866)
$8,424,942
$320,063
$(665,000)
$737,804
$9,059,162
FY19/20 FY20/21
$
+ (–)
FY20/21
FIGURES SHOWN
BY TYPES OF
EXPENDITURES
26.1%
0.4%
15.2%2.4%
36.5%
1.3%2.3%4.1%
0.7%
20.6%
0.9%
7.6%10.5%
0.6%0.2%1.8%
6.3%
1.1%0.2%
11.7%
2.0%0.2%
25.9%
2
EXPENSES
Depreciation at 25.4% is
the largest expense in the
Business-Type activities,
which as presented here,
only includes the Water &
Sewer Fund. Depreciation
expense is calculated by
taking the cost of an asset
and then spreading this out
over the useful life of the
asset. Salaries at 20.6% are
the second largest expense
EHFDXVHRIWKHVLJQLƓFDQW
amount of labor that is
required to operate the
Water & Sewer systems.
Contractual Services is
the third largest expense
at 17.3%, which includes
items such as electricity and
sludge removal.
$1,101,269
$281,908
$277,229
$621,745
$927,081
$199,747
$91,168
$1,358,389
$493,660
$5,352,196
FY20/21
($161,561)
($11,989)
$34,573
($22,257)
($13,085)
($49,266)
($16,584)
($2,414,611)
$26,571
($2,628,209)
SALARIES
EMPLOYEE BENEFITS
PERSONAL SERVICES
COMMODITIES
CONTRACTUAL SERVICES
IMPROVEMENTS
INTEREST EXPENSE
DEPRECIATION
OTHER
TOTAL
$1,262,830
$293,897
$242,656
$644,002
$940,166
$249,013
$107,752
$3,773,000
$467,089
$7,980,405
FY19/20 $
+ (–)
The Business-Type Activities are made up of the Water and Sewer Fund. To provide these services, this fund consists of three major divisions: Water Treatment, Wastewater Treatment, and Sewer & Water Maintenance.The Water Treatment Division is responsible for water production, offering a capacity of 7.7 million gallons per day (mgd) with 3.3 million
REVENUESBusiness-Type Activities presented here are made up exclusively of the Water & Sewer Fund. As such, it would be expected that Water & Sewer Sales would make up the majority of revenue at 93.9%. This revenue is collected and used to pay for the cost of providing water and sewer services to the citizens of Woodstock. This source of revenue was up $481,042 as the City sold more water than the previous year. Connection Fees are the next largest source of revenue at 4.9%. These funds are set aside in a separate account and are used for future expansion of the treatment plants.
WATER & SEWER SALES
CONNECTION FEES
INVESTMENT INCOME
MISCELLANEOUS
TOTAL
$5,355,848
$257,448
$172,550
$1,782
$5,787,628
$5,836,890
$302,205
$68,777
$5,132
$6,213,004
$481,042
$44,757
$(103,773)
$3,350
$425,376
FY19/20 FY20/21
$
+ (–)
{ INCLUDES NON-OPERATING REVENUES }
FY20/21
PERCENTAGE OF
TOTAL BUSINESS
TYPE ACTIVITIES
–
REVENUES
BUSINESS-TYPE ACTIVITIES (WATER & SEWER FUND)
gallons of storage. The Wastewater Treatment Division operates and maintains the City’s two wastewater treatment plants, off-site lift stations, and all related equipment and facilities. Lastly, the Sewer & Water Maintenance Division is responsible for the water (124.9 miles) DQGVHZHU PLOHV GLVWULEXWLRQV\VWHPV7KLVLQFOXGHVƓUHhydrants and 20 sanitary sewer pumping stations.
FY20/21
PERCENTAGE OF
TOTAL BUSINESS
TYPE ACTIVITIES
–
EXPENSES
20.6%
5.3%
5.2%
11.6%
17.3%
3.7%
1.7%
25.4%
9.2%
93.9%
4.9%1.1%0.1%
3
PROPERTY TAXES
REPLACEMENT TAXES
INTERGOVERNMENTAL
FINES AND FEES
INVESTMENT INCOME
MISCELLANEOUS
TOTAL
$1,311,532
$11,000
$772,698
$55,884
$29,681
$13,809
$2,194,604
$1,354,059
$11,000
$782,314
$40,510
$6,006
$73,128
$2,267,017
$42,527
– – – –
$9,616
$(15,374)
$(23,675)
$59,319
$72,413
FY19/20 FY20/21 $
+ (–)
{ INCLUDES NON-OPERATING REVENUES }
The Woodstock Public Library is a legally separate entity. However, since the City appoints the Library’s board members and approves their property tax levy, it is considered a discretely-presented component unit, which UHTXLUHVWKH/LEUDU\ōVƓQDQFLDOLQIRUPDWLRQEHUHSRUWHGin the City’s Comprehensive Annual Financial Report as a separate column. Besides City residents, the Woodstock Public Library also serves (through an intergovernmental agreement) residents in the Woodstock Rural Library District.
$961,258
$161,937
$193,183
$273,152
$220,890
$209,434
$0
$5,837
$2,025,691
FY20/21
$(31,088)
$6,642
$8,934
$4,454
$47,141
$(214,260)
$ (1,530)
$(49,188)
($228,895)
SALARIES
EMPLOYEE BENEFITS
PERSONAL SERVICES
CONTRACTUAL SERVICES
COMMODITIES
CAPITAL OUTLAY
INTEREST
OTHER CHARGES
TOTAL
$992,346
$155,295
$184,249
$268,698
$173,749
$423,694
$1,530
$55,025
$2,254,586
FY19/20 $
+ (–)
THE POPULAR ANNUAL FINANCIAL REPORT
FY20/21
PERCENTAGE OF
COMPONENT UNIT
FUNDS
–
REVENUES
59.7%
0.5%
34.5%
1.8%0.3%3.2%
COMPONENT UNIT FUNDS
(WOODSTOCK PUBLIC LIBRARY)
FY20/21
PERCENTAGE OF
COMPONENT UNIT
FUNDS
–
EXPENDITURES
EXPENDITURES Salaries made up the largest portion of expenditures at
47.4%. Contractual Services
is the next largest category
representing 13.5% of
expenditures. This category
encompasses the cost to
maintain the Library’s
computer network, cataloging
system, cleaning company
and insurance premiums.
Additionally, contractual
services include all of the
library’s digital resources
and downloadable content.
The third largest category
is Commodities at 10.9%
which includes the cost of
purchasing books and other
reading material.
The Library spent 10.3% of
its budget on Capital Outlay
projects. This included the
installation of a new roof
membrane along with HVAC
improvements.
REVENUES
Property taxes account for the largest portion of revenue representing 59.7% of total revenue. The next largest category is intergovernmental revenue at 34.5%. Intergovernmental revenue includes the payment from the Woodstock Rural Library District and a per-capita grant received from the State of Illinois.
THE POPULAR ANNUAL FINANCIAL REPORTTHE POPULAR ANNUAL
FINANCIAL REPORT
47.4%
8.0%
9.5%
13.5%
10.9%
10.3%
0.1%0.3%
4
FY20/21
PERCENTAGE OF
TOTAL CAPITAL
IMPROVEMENT
PROGRAM OUTLAY
Over the past 18 years, Woodstock’s Non-Home Rule sales tax revenue
has increased 92.9%, which is an average gain of 5.2% each year.
The State of Illinois collects sales tax on behalf of local municipalities
and returns 1% of the 7% tax collected to the City of Woodstock. This
portion of the City’s sales tax is a very important part of the City’s revenue
structure, representing 13.1% of total governmental funds’ revenue.
Beginning on January 1, 2018, the City instituted a new Home Rule
sales tax, with a portion designated to provide property tax relief,
reducing the City’s property tax levy by 10%. The remainder was
dedicated to infrastructure needs, primarily roads. The adoption of a
Home Rules Sales Tax has resulted in a broader revenue mix that better
GLVWULEXWHVWKH&LW\ōVFRVWVVSHFLƓFDOO\VWUHHWPDLQWHQDQFHEHWZHHQ
UHVLGHQWVDQGYLVLWRUV,QWKLVPRVWUHFHQWƓVFDO\HDUWKH+RPH5XOH
sales tax has generated $2,883,393 in collections.
SALES TAX
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1.0
1.5
2.0
2.5
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3.5
4.0
4.5
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The General CIP Fund was established to account for funding needed for major capital projects, typically those over $10,000 in estimated costs. In conjunction with the City’s ten (10) year CIP document, it allows the City to strategically plan a continuous, comprehensive, long-term RXWORRNIRUFDSLWDOLPSURYHPHQWVWREHQHƓWWKHFRPPXQLW\The overall capital improvement program spent almost $10 million more in FY20/21 than it did in FY19/20. This is a direct result of the enhanced street program the City instituted, which was able to repave PRUHWKDQPLOHVRIURDGVGXULQJWKHƓVFDO\HDUThe projects paid from this fund are broken into eight (8) categories. Since streets are such an important part of the City’s capital plan, and represent the largest expenditure amount, these expenses have been broken out from the streets/sidewalks/signals category as presented in the City’s Comprehensive Annual Financial Report.Streets expenditures represented 85.3% of all General Fund Capital Improvement Program funding in FY20/21 and is the largest by FODVVLƓFDWLRQ$VZDVVWDWHGDERYHWKLVZDVDGLUHFWUHVXOWRIWKH&LW\ōVƓYH\HDUHQKDQFHGUHSDYLQJSURJUDPLQVWLWXWHGE\WKH&LW\&RXQFLOPublic FacilitiesLVWKHQH[WODUJHVWH[SHQGLWXUHFODVVLƓFDWLRQDW3.4%. Projects included in this category were the Woodstock Metra train station rehab, which the City received 100% of the costs back from Metra, as well as Aquatic and Recreation Center upgrades.Closely behind Public Facilities was the Parks category also at 3.4%. The vast majority of this was the repaving of the roadways and parking lots within the City’s parks.The City spent 2.2% of the General CIP Fund under Public Safety, purchasing squad cars and upgrading various equipment. This was an LQFUHDVHRI IURPWKHSULRUƓVFDO\HDU6LJQLƓFDQWIXQGVFRQWLQXHWREHVSHQWLQWKHDUHDRIMotor Pool at 1.6%. New purchases included pickup vehicle replacements for the Parks, Streets, and Building & Zoning Departments.Lastly, 1.6% was dedicated to paying Interest and other Fiscal Charges as result of the debt being issued to fund the enhanced road program.
CAPITAL IMPROVEMENT
PROGRAM (CIP)
GENERAL ADMINISTRATION
PUBLIC FACILITIES
PUBLIC SAFETY
PARK
MOTOR POOL
SIDEWALKS/SIGNALS
STREETS
STORMWATER
INTEREST & FISCAL CHARGES
TOTAL
$134,398
$204,811
$65,335
$173,953
$342,260
$24,471
$1,035,560
$303,047
–
$2,283,835
$88,881
$419,815
$272,248
$417,223
$193,470
$112,230
$10,467,378
$106,768
$197,820
$12,275,833
$(45,517)
$215,004
$206,913
$243,270
$(148,790)
$87,759
$9,431,818
$(196,279)
$197,820
$9,991,998
FY19/20 FY20/21
0.7%3.4%2.2%3.4%
1.6%
0.9%
85.3%
0.9%1.6%
NON-HOME RULE SALES TAX REVENUE
$
+ (–)
5
As indicated by the graphic to the
right, the City of Woodstock receives
14.76 cents from every dollar of
property tax collected. This is down
0.18 cents from the year before. The
remaining portion, 85.24 cents of
each dollar, is allocated to other taxing
districts. This important revenue
source is used to pay for day-to-day
operations for City Administration,
Finance, Economic Development,
Police, Public Works, Human
Resources, Information Technology,
Building and Zoning, Woodstock
Recreation Department, Woodstock
Opera House and Woodstock Public
Library along with funding employer
Social Security, Medicare and State-
mandated pension contributions.
CITY OF WOODSTOCK
14.76%MCHENRY COUNTY
7.09%
DORR TOWNSHIP
ROAD AND BRIDGE
2.26%
DORR TOWNSHIP
1.01%
WOODSTOCK
FIRE/RESCUE
DISTRICT
9.19%
MCHENRY
COUNTY
COLLEGE
3.20%
MCHENRY COUNTY
CONSERVATION
DISTRICT
2.08%
Based on figures from a typical 2020
property tax bill paid in 2021 for a
resident of the City of Woodstock living
in Dorr Township.
Despite this change in the tax rate, the average house in Woodstock has actually seen a decrease in taxes paid to the City of Woodstock. A house that was worth $100,000 in tax year 2008 paid $367.90 in property taxes. This same house would have paid $299.63 to the City of Woodstock for tax year 2020, if the EAV changed at the same rate as the City’s overall EAV.
The City of Woodstock’s Equalized Assessed Value (EAV) peaked in 2008 as a result of increased property values along with QHZJURZWK6LQFHWKHQWKH&LW\KDVVHHQDVLJQLƓFDQWGHFOLQHLQEAV as a result of the depressed housing market that was brought on by the economic crisis. As a result of this decrease in EAV, the City’s Property Tax Rate rose from 1.3460% in 2008 to 2.2287% in 2014 in order to maintain existing essential services. Since that time, the tax rate has dropped to 1.5857% as a result of the overall EAV increasing along with a 10% tax reduction passed by the Woodstock City Council in 2018.
DIVIDING UP
THE DOLLAR
WOODSTOCK
PROPERTY TAX RATE
ESTIMATED TAX PAID TO CITY OF
WOODSTOCK ON HOUSE VALUED
AT $100,000 IN 2008
0
0.25
0.50
0.75
1.00
1.25
1.50
1.75
2.00
2.25
2.50
20
2
0
20
1
9
20
1
8
20
1
7
20
1
6
20
1
5
20
1
4
20
1
3
20
1
2
20
1
1
20
1
0
20
0
9
20
0
8
0
50
100
150
200
250
300
350
400
20
2
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20
1
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20
1
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20
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20
1
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20
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1
3
20
1
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20
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0
20
0
9
20
0
8
THE POPULAR ANNUAL
FINANCIAL REPORT
6
COMMUNITY UNIT SCHOOL
DISTRICT #200
60.41%
WOODSTOCK BY THE NUMBERS
THE PRIMARY ECONOMIC DEVELOPMENT INITIATIVES OF THE CITY OF WOODSTOCK
ARE TO:
• Work closely with realtors, site selectors
and business representatives to facilitate
establishment or expansion of retail,
commercial and industrial businesses
to stimulate the local economy and offer
increased job opportunities.
• Provide technical assistance to
support business education, workforce
development and detailed knowledge
of our local development sites.
• Maintaining networks of local business
leaders to strengthen connections,
become aware of potential leads
and generate greater awareness of
Woodstock.
• Assist in securing access to the right
capital at the right stage of development.
• Offer community support by working
with other City Departments to ensure
code compliance, public safety and
infrastructure maintenance that
contributes to local business success.
The Economic Development Department spends a majority of its time and effort working ZLWKORFDOHQWUHSUHQHXUVRUUHJLRQDODQGQDWLRQDOGHYHORSHUVRQVSHFLƓFGHYHORSPHQWSURMHFWVThe department typically works on 120 or more projects in any given year, many of which carry over multiple years and helps bring approximately 25 of these to conclusion in the form of the opening of a new or expanded business in Woodstock each year. This includes an average of 190 new jobs each year over the past 4 years. In 2020, the Economic Development Department assisted with 26 new business openings or expansions. New businesses include Antioch Pizza, Chipotle Mexican Grill, Cynthia Ashby Inc., Evolve Chiropractic, Kishwaukee Brewing Company, My Little Bow Peeps Shop, Oliver’s Bar & Grill, Pet Depot, Swift Wash, T-Mobile, and Verizon. Expanded businesses include Benjamin )(GZDUGV&KDUWHU'XUD%DU&RQVXPHU&UHGLW&RXQVHOLQJ)DV7DFRV0%,6WDIƓQJ0RPP\Knows Best, TLB Counseling, Wal-Mart, Wendy’s, and the re-branded Studio D Jewelers.The Woodstock TIF #2 saw several large projects begin, allowing approved projects to receive a rebated portion of their own property taxes as they invest and grow the value of their property. Projects approved and under development in 2020 included the 30-unit Woodstock Square Apartments and a new retail location for Aldi. The Enterprise Zone was also used to encourage investment in other projects, such as Cedarhurst Senior Living, Kishwaukee Brewing and the UHQRYDWLRQRIWKHIRUPHUGRZQWRZQ*DV'HSRWWRDQRIƓFHEXLOGLQJ6DOHVWD[DJUHHPHQWVwith Bull Valley Ford and Kunes Chrysler Dodge Jeep Ram of Woodstock resulted in over $4 million of investment in these dealerships and strong long-term growth in sales tax production.The restrictions and closures resulting from the 2020 pandemic presented an opportunity for the Economic Development Department to reach more business owners in a variety of ways. The monthly Constant Contact e-mails from the department became almost daily in the Spring of 2020. Over 600 business owners, building owners, realtors and other partners are receiving City e-mails, in highly focused groups based on the particular topic being communicated. $OVRRYHUEXVLQHVVHVUHFHLYHGGLUHFWƓQDQFLDOVXSSRUWWKURXJKWKH(PHUJHQF\/RDQ*UDQWSURJUDPDQGWKH5HVWDXUDQW5HOLHI*UDQW0DQ\RWKHUEXVLQHVVHVEHQHƓWWHGIURPIHHZDLYHUVpayment delays, supplemental parking or outdoor dining opportunities provided by the City. Year-over-year sales tax for 2020 actually grew 10.7% in Woodstock, while many of our McHenry County neighbors saw a decline.
ECONOMIC DEVELOPMENT
POPULATION
UNEMPLOYMENT
ANNUAL SALES TAX COLLECTIONSILLINOIS DEPARTMENT OF REVENUE
SQ. FEET OF OCCUPIED ECONOMIC DEVELOPMENT DEPT.
COMMERCIAL OCCUPANCYOF DOWNTOWN WOODSTOCKECONOMIC DEVELOPMENT DEPT.
PERMITTED CONSTRUCTIONWOODSTOCK BUILDING DEPT.
25,340 25,528
MEDIAN HOUSEHOLD INCOMEUS CENSUS BUREAU $55,951 $57,094
$4,246,596 $4,295,180
4,232,326 4,312,529
90.0% 90.4%
4.6% 3.7%
2017 2018
2017 2018
RESIDENTIAL
COMMERCIAL/INSTITUTIONAL
INDUSTRIAL
TOTAL VALUE OF PERMITTED CONSTRUCTION
$10,702,989
$2,057,108
$326,080
$13,086,177
$15,699,063
$6,274,827
$2,024,000
$23,997,890
NO. OF NEW RESIDENTIAL UNITS BUILT: WOODSTOCK BUILDING DEPT.2017 2018
SINGLE FAMILY
MULTI-FAMILY
TOTAL NUMBER OF NEW UNITS
60
0
60
99
0
99
25,528
$62,478
$4,511,551
4,331,489
92.2%
3.2%
2019
2019
$9,411,980
$8,565,820
$327,748
$18,305,548
2019
41
0
41
25,630
$65,260
$4,653,831
4,533,879
85.6%
10.0%
2020
2020
$9,444,109
$7,992,929
$2,652,775
$20,089,813
2020
25
30
55
7
THE POPULAR ANNUAL FINANCIAL REPORT
Roscoe Stelford, City Manager
815-338-4301 • citymanager@woodstockil.gov
Paul Christensen,
Assistant City Manager/Finance Director
815-338-4300 • pchristensen@woodstockil.gov
John Lieb, Police Chief
815-338-6787 • policechief@woodstockil.gov
Christina Betz, Public Works Director
815-338-6118 • cbetz@woodstockil.gov
Garrett Anderson,
Economic Development Director
815-338-3176 • ganderson@woodstockil.gov
Deborah Schober, Human Resources Director
815-338-1172 • dschober@woodstockil.gov
Dan McElmeel, IT Director
815-338-4300 • dmcelmeel@woodstockil.gov
Joe Napolitano, Building & Zoning Director
815-338-4305 • jnapolitano@woodstockil.gov
Michael A. Turner,
Mayor
815-338-4302
Darrin Flynn,
Councilman
815-321-4485
Lisa Lohmeyer,
Councilwoman
815-321-4481
Tom Nierman,
Councilman
815-321-4479
Wendy Piersall,
Councilwoman
815-321-4484
Bob Seegers, Jr,
Councilman
815-321-4482
Gordie Tebo,
Councilman
815-321-4483
Daniel Campbell, Opera House Director
815-338-4212 • dcampbell@woodstockil.gov
Dave Zinnen, Recreation Director
815-338-4363 • dzinnen@woodstockil.gov
Nick Weber, Library Director
815-338-0542 • nweber@woodstockil.info
City Hall General Information • 815-338-4300
Water & Sewer Billing
815-338-4300 • waterbilling@woodstockil.gov
0D\RUōV2IƓFH • 815-338-4302
mayor@woodstockil.gov
2SHUD+RXVH%R[2IƓFH • 815-338-5300
Police (Non Emergency) • 815-338-2131
MC-Ride • 800-451-4599
MDC Environmental Services • 815-568-7274
The City issues long-term debt to provide funds for the construction of major capital facilities and other capital improvement projects. One advantage of XWLOL]LQJGHEWƓQDQFLQJis to spread the costs of the major capital improvements to the UHVLGHQWVZKRDUHEHQHƓWWLQJfrom the project. Using funds on hand may result in current residents paying for capital improvements from which they PD\QHYHUGHULYHDQ\EHQHƓWVIn the end, a blend of both approaches is used by the City to fund capital improvements. Since 2009, the City’s overall outstanding debt has declined each year as the City continues to pay off its obligations until this most recent year. As part of the City’s enhanced road repaving program, the City issued $10 million in General Obligation (GO) Debt that will be paid over the next 20 years, which has had the effect of increasing the City’s overall debt amount.In FY19/20, the City issued $1.5 million of GO direct placement debt to purchase the Old Die Cast Site located just north of historic downtown. This land was purchased with the intent of developing it for residential and commercial projects.In addition, debt was issued for the last major improvement at the First Street Water Treatment Plant completed in 2009. Other projects nearing payment completion include construction of the Merryman Ball Fields and Davis Road Soccer Complex, and road improvements to McConnell Road and to Lake Avenue by Walmart. Debt issued for the Aquatic Center, Police Facility and Opera House have all been paid off E\WKHHQGRIWKLVƓVFDO\HDU)XQGVWKDWZHUHEHLQJXVHGWRPDNHWKHVHORQJVWDQGLQJERQGSD\PHQWVare now being diverted to the General Fund CIP to pay for future capital improvements.
CITY COUNCILCITY OF WOODSTOCK DEPARTMENT DIRECTORY
LONG-TERM DEBT UPDATE
THE POPULAR ANNUAL
FINANCIAL REPORT
The City of Woodstock’s credit rating continues to be rated at “AA” by Standard and Poor’s (S&P). S&P cited the City’s strong budgetary ŴH[LELOLW\DQGPDQDJHPHQWZLWKJRRGƓQDQFLDOSROLFLHVand practices as among some of the reasons for the credit rating. They also indicated that the long term outlook for this rating was “Stable”, which indicated that this rate is unlikely to change in the next two years. The City recently KDGWKLVUDWLQJUHFRQƓUPHGby S&P on April 23, 2020.
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