HomeMy WebLinkAboutVillage of Lisle - Public Financial ReportVillage of Lisle / villageoflisle.org 1 Popular Annual Financial Report
VILLAGE OF LISLE
Popular Annual Financial ReportFISCAL YEAR 2020-2021
For the Fiscal Year Ended April 30, 2021
Village of Lisle / villageoflisle.org 2 Popular Annual Financial Report
Welcome
The Village of Lisle is pleased to present the Popular Annual Financial Report (PAFR) for the
fiscal year ended April 30, 2021. This report has been developed to provide the community with a
summary of the Village’s financial activities and position in a transparent and easily understood
format. The PAFR presents summarized financial information from the Village’s Comprehensive
Annual Financial Report, which is available through the Village’s Transparency Portal at
villageoflisle.org/transparency. The Comprehensive Annual Financial Report is a more complete,
independently audited, financial presentation prepared in accordance with generally accepted
accounting principles (GAAP). The Village has been awarded a Certificate of Achievement for
Excellence in Financial Reporting by the Government Finance Officers Association (GFOA) for its
Comprehensive Annual Financial Report (Annual Report) for the past 18 years.
Table of Contents
Elected Officials 3
Key Village Staff 3
Organizational Chart 4
Lisle at a Glance 5
Government 5
Financial Highlights 6
Governmental Revenues 7
Property Taxes 8
Governmental Expenditures 9
Capital Investments 10
Stay Connected 11
Village of Lisle / villageoflisle.org 3 Popular Annual Financial Report
Elected Officials
The Village of Lisle is governed by the Mayor and a six
member Board of Trustees. The Trustees, Mayor and Village
Clerk are elected at-large to 4-year terms and constitute
the Village’s corporate authorities. The Mayor serves as
chairman of the Board of Trustees and performs certain
duties as defined by the Village Code, which is local law, or
by state statutes. The Mayor and Trustees are charged with
the responsibility of establishing Village policies, enacting
municipal laws, and overall approval of the conduct of
municipal business matters. The Mayor appoints members
of volunteer committees and commissions with the advice
and consent of the Village Board of Trustees.
The Village Clerk is the official record keeper of the Village
and has the responsibility of keeping an official record of
meeting proceedings, processing official Village documents,
archiving historical records, and the issuance of certain
licenses.
Eric Ertmoed
Village Manager
Jack Knight
Assistant Village Manager
Sarah Schueler
Finance Director
Ron Wilke
Police Chief
Michael Smetana
Development Services Director
Jason Elias
Public Works Director
The Mayor and Village
Board of Trustees appoint
the Village Manager, who
oversees the day-to-day
operations of the Village.
Christopher Pecak, Mayor
Lorna Turner, Village Clerk
Official as of 4/30/21
Trustees
Anthony Carballo
Cathy Cawiezel
Kelly Dixit
Marie Hasse
Sara Sadat
Stephen Winz
Key Village Staff
Village of Lisle / villageoflisle.org 4 Popular Annual Financial Report
vii
Mayor and
Board of Trustees
Village Manager
Finance Director
Development
Services Director
Assistant Village
Manager
Chief of
Police
Public
Works
Director
Residents of Lisle
Village Clerk
Organizational Chart
Village Attorney
Village of Lisle / villageoflisle.org 5 Popular Annual Financial Report
Lisle at a Glance
The Village of Lisle is a vibrant and dynamic community located in Chicago’s western suburbs
with significant economic opportunity and a high quality of life. Called “The Arboretum Village,”
the community is situated along the prestigious I-88 Corporate Corridor just 26 miles west of
Chicago’s loop in DuPage County. The community has a major commercial corridor along Ogden
Avenue with access to the north/south and east/west tollways just minutes away.
The Village of Lisle has 91 full-time and 13 part-time employees. Village departments include
the Village Manager’s Office, Finance, Development Services, Public Works and Police. We
proudly serve the community in upholding the organization’s four core values of accountability,
professionalism, commitment and responsiveness.
Government
The Village of Lisle is a Trustee-Village form of government that was incorporated in 1956. The
population is 24,223 as of the 2020 Census and incorporated boundaries encompass 6.5 square
miles. The Village’s Credit Rating is Aa1 and top employers include Navistar, Benedictine University
and Molex. There are 69 miles of street, 121 miles of watermain, approximately 6,000 water
customers served an average of 800 million gallons of water per year. The Police Department
responds to 13,400 calls for service per year.
Quick Facts
Population: 24,223
Median Age: 36.9
Median Household Income: $90,588
Per Capita Income: $51,574
Median Home Value: $356,900
Owner-occupied housing unit rate: 57.7%
Unemployment Rate: 5.40%
Bachelor’s Degree or Higher: 61.8%
Village of Lisle / villageoflisle.org 6 Popular Annual Financial Report
Fund Assets & Deferred Outflows Liabilities & Deferred Inflows Fund Balance
Governmental Funds
Major
General $23,961,571 $6,184,653 $17,776,918
Navistar TIF 1,710,715 1,056,284 654,431
UTI TIF 2,216,787 862,434 1,354,353
Capital Improvement/Equipment
Replacement 10,331,628 24,758 10,306,870
Storm Water Facilities 4,351,056 107,293 4,243,763
Non-Major
Motor Fuel Tax 3,540,858 - 3,540,858
Liability Insurance 179,444 101,602 77,842
I-Net Consortium 583,155 3,382 579,773
Hotel/Motel 816,284 54,170 762,114
Criminal Forfeiture 89,622 - 89,622
Downtown TIF 81,705 28,000 53,705
2016 Pledged Hotel/Motel 402,334 - 402,334
Total Governmental Funds $48,265,159 $8,422,576 $39,842,583
Proprietary Funds
Enterprise Funds
Major
Water & Sewer 35,632,642 2,042,178 33,590,464
Non-Major
Cemetery 301,277 7,932 293,345
Commuter Parking 2,613,699 91,400 2,522,299
Internal Service Fund
Insurance 3,729,749 1,442,278 2,287,471
Total Propietary Funds $42,277,367 $3,583,788 $38,693,579
Fiduciary Funds
Police Pension 42,877,568 10,701 42,866,867
TOTAL $133,420,094 $12,017,065 $121,403,029
The Village's overall fund balances are healthy, exceeding the minimum reserve policies
established by the Village Board. Conservative financial management and related policies
have allowed for the prudent maintenance of reserves.
Financial Highlights
Village of Lisle / villageoflisle.org 7 Popular Annual Financial Report
Governmental Revenues by Source
Total Revenues$24,037,372
Breakdown of Taxes
63.86%
18.21%
3.86%
5.62%
5.09%
0.36%
3.00%
$15,350,213
$4,377,151
$ 927,267
$1,350,633
$1,224,608
$ 85,575
$721,925
Taxes
Intergovernmental
Licenses and Permits
Charges for Services
State/Federal Grants
Investment Income
Miscellaneous
Taxes: includes property tax, hotel/motel tax, utility taxes,
sales tax, use tax, telecommunications tax, personal
property replacement tax, and cannabis use tax.
Intergovernmental: includes state income tax, motor fuel
tax, Rebuild Illinois grants, and other intergovernmental
reimbursements.
Charges for Services: includes rental fees, fines and
penalties, and hearing and inspection fees.
State and Federal Grants: includes grants received from
the State of Illinois and federal government.
Licenses and Permits: includes cable franchise fees,
natural gas franchise fees, building permit fees, business
license fees, liquor license fees, and business registration fees.
Investment Income: includes income earned through
the investment of available funds following the Village’s
investment policies.
Miscellaneous: includes any revenues not accounted for
in the other categories.
The increase in FY20-21 revenues as compared to FY19-20 was primarily due to the Village receiving $1,215,130 in CARES Act funding which was used to offset public safety expenditures during the pandemic.
The decrease in FY19-20 revenues as compared to
FY18-19 was due to the economic downturn from the
COVID-19 pandemic during the last two months of the
fiscal year.
The increase in FY18-19 revenues as compared to FY17-18 was due to the continued increase in sales tax. The tax increased by $585,264 compared to the prior fiscal year.
Revenue Trend
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Property Taxes
The Village levies property taxes to provide for general corporate purposes, police protection,
IMRF, FICA, Police Pension, and liability insurance. The general corporate portion of the levy funds
a portion of public safety salaries. The Village does not levy for debt service but instead abates the
bonds with revenue from the additional 2% hotel/motel tax.
On December 2, 2019, the Village Board approved a Property Tax Ordinance for the 2019 property
tax year to be collected in 2020. The levy did not increase and has remained flat since 2017.
Though the tax extension remains the same, the average existing property owner experienced
a reduction in the Village of Lisle's portion of their tax bill due to the addition of new properties
within the Village's corporate boundaries.
$39,855,100
$29,214,960
$28,487,180
$16,502,480
$14,589,140
$13,933,590
$13,131,910
$9,667,970
$9,133,820
$8,641,390
$183,157,540
Navistar, Inc.
SLK Global Solutions
Millbrook Lisle 801 LLC
Lakeside Apartments
Resource Real Estate
JVM Avant Apartments
2611 Corporate West Drive
Towers Four Lakes Capital
Dawn Acquisitions LLC
4755 Main Apartments
Top 10 Principal Taxpayers Taxable Assessed Value
Village of Lisle / villageoflisle.org 9 Popular Annual Financial Report
Governmental Expenditures
General Government: includes elected
officials and Village Manager’s Office,
Development Services, Police, and Finance
Departments.
Public Safety: includes the police and
emergency management services.
Public Works: includes streets, water
maintenance and services.
Capital Outlay: includes capital
expenditures related to Village infrastructure
and equipment.
Debt Service: includes payments related to
outstanding debt obligations.
The change in expenditures from fiscal year to fiscal year is primarily due to fluctuations in capital outlay spending.
Village of Lisle / villageoflisle.org 10 Popular Annual Financial Report
Capital Assets by Category Governmental
Activities
Business-Type
Activities Village Total
Land & Land Improvements $16,230,943 $1,748,641 $17,979,584
Buildings 28,343,161 6,957,368 35,300,529
Vehicle & Equipment 6,355,643 2,023,424 8,379,067
Infrastructure 69,935,524 48,654,920 118,590,444
Construction in Progress 448,380 792,672 1,241,052
Less: Accumulated Depreciation (65,990,584) (38,551,499) (104,542,083)
Total $55,323,067 $21,625,526 $76,948,593
Capital Investments & Infrastructure Investments
The Village continues to invest in capital assets. Assets purchased primarily with tax resources are
classified as governmental. Capital assets associated with fee-based operations have a business-
type classifcation.
Major capital asset events during the current fiscal year included the following:
»Reconstructed various streets throughout the Village in the amount of $1,086,784.
»Accepted contributions of sidewalks, water main, and sanitary sewer from developers in the
amount of $196,545.
»Purchased two leaf vacuum machines in the amount of $234,068.
»Completed storm sewer lining along Burlington Avenue in the amount of $348,049.
5 Year Capital Investment
925 Burlington Avenue · Lisle, IL 60532-1838
630-271-4100
www.villageoflisle.org
villageoflisle
@villageoflisle
village-of-lisle
For more details,
please review the
complete FY2020-
2021 Comprehensive
Annual Financial
Report, available on
the Village of Lisle
website.
www.villageoflisle.org