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HomeMy WebLinkAboutVillage of Channahon - Public Financial ReportFiscal Year Ended April 30, 2021 Village of ChannahonPopular AnnualFinancial Report This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command. 3VILLAGE OF CHANNAHON - PAFR FY20212VILLAGE OF CHANNAHON - PAFR FY2021 This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command. Table of Contents This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command. Overview Overview 3 Quick Statistics 4 Strategic Goals 5 General Fund 6 Revenues & Expenditures 8 Capital Improvements 9 Department Snapshot: Public Works 10 Water & Sewer Fund 12 Wastewater Treatment Plant 13 Long-Term Debt 14 Looking Ahead 15 Incorporated in 1961, the Village of Channahon is celebrating its 60th anniversary in 2021. While much has changed around town over the last six decades, the once small canal town has quietly and efficiently transformed into a bustling destination for new residential, commercial and industrial development. Through the continued evolution of Channahon, one thing remains the same: our commitment to thoughtful, sustainable growth. Dear Residents and Businesses of Channahon, The Village of Channahon is proud to present the Popular Annual Financial Report (PAFR) for the fiscal year ended April 30, 2021. This report provides highlights of the Village’s finances from the previous fiscal year by taking information from our recently completed Comprehensive Annual Financial Report (Annual Report) and summarizing it in a more comprehensible format. The PAFR is intended to be a supplement to the Annual Report, not a replacement. The complete 2021 Annual Report, which explores the Village’s financial operations in full, can be found at www.channahon.org/AnnualReport2021. For the sixteenth consecutive year, the Village was awarded the prestigious Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA) of the United States and Canada for the fiscal year ended April 30, 2020. Additionally, the Village also received its second consecutive Award for Outstanding Achievement in Popular Annual Financial Reporting for the fiscal year ended April 30, 2020. Our commitment to the GFOA award programs is a testament to our belief that sharing financial information in formats consistent with the highest standards in governmental financial reporting is imperative. Fiscal year 2021 also marked the kickoff of the Village’s 60th anniversary celebrations, a special moment in our community’s history. Today, the original vision for Channahon is a reality: a scenic village with diverse residential, commercial and retail experiences and an outstanding financial position. The Village of Channahon does not rest on its laurels, though. As you’ll see throughout this report, the Village continues to focus on a number of improvements across town intended to enhance the quality of life for our residents. The Village of Channahon takes immense pride in what we’ve accomplished. As elected officials, it is our strong belief that maintaining effective communication with our residents and businesses promotes transparency and responsible government. We hope this report gives you a greater understanding of how we continuously strive to achieve one overarching goal: to improve the lives of all of our residents with thoughtful, sustainable growth. Respectfully, Missey Moorman SchumacherVillage President This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command. 5VILLAGE OF CHANNAHON - PAFR FY20214VILLAGE OF CHANNAHON - PAFR FY2021 This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command. Quick Statistics Strategic Goals Community Demographics Police Department Public Works Community Development Residents Households Officers Calls for Service Miles of Roads Tons of Salt Used for Snow Removal Building Inspections Performed Construction Permits Issued Median Household Income 13,383 4,300 $91,897 25 7,778 85.4 1,107 4,140 124 Key Terms Most Village services and projects are accounted for in a general category referred to as Funds. This report focuses on the Village’s largest funds (General, Water & Sewer and Capital Projects). FUNDS Accounts for revenues and expenditures for general operations of the Village not required to be accounted for in separate funds. GENERAL FUND The difference between total assets and deferred outflows of resources and total liabilities and deferred inflows of resources. A positive net position means the Village has more money available (assets) than it owes (liabilities). NET POSITION Accounts for the revenue and expenses related to providing a safe, drinkable water supply for domestic and industrial usage, fire protection and for main- taining a dependable system for collecting and treating wastewater of the Village. The fund also accounts for the Village’s refuse disposal operations. WATER & SEWER FUND Money that is spent to maintain, upgrade, acquire or repair capital assets, or Village-owned property and equipment. CAPITAL OUTLAY Revenues such as state and local sales tax, income tax, gaming tax, etc. INTERGOVERNMENTAL REVENUES Median Housing Value$224,500 Employer Employees Employer Employees 1. Amazon Services LLC 700 6. Aux Sable Liquid Products 158 2. Channahon Park District 261 7. Minooka Community High School 133 3. A&R Logistics, Inc.205 8. Amazon.com Services LLC 80 4. Utility Concrete Products, LLC 175 9. Brieser Construction 70 5. Channahon Grade School Dist.17 164 10. Novo Distribution, LLC 69 Village of Channahon’s Top Employers Patrol Miles Training Hours 235,236 2,709 Peak Day Water Pumped (Gallons) Average Daily Water Pumped (Gallons) 1,699,000 801,035 Average Daily Sewerage Treated (Gallons)684,000 Commercial Square Footage Permitted1,337,177 Maintain the pace of building high quality developments in the Village. Engage the community with a diversified and compassionate law enforcement agency. Continue the Village’s conservative approach to financial decisions. Uphold a high standard of services provided to residents. Preserve Channahon as a wonderful community to work, live and play in.1. 2. 3. 4. 5. This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command. 7VILLAGE OF CHANNAHON - PAFR FY20216VILLAGE OF CHANNAHON - PAFR FY2021 This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command. General Fund DidYouKnow? Opened in 1954, the Manor Motel in Channahon was one of the original destinations along Route 66. Today, the Manor Motel is considered to be one of the longest running motel buildings remaining on Route 66 in Illinois. Fund Balance - General Fund 2021 2020 Source FY 2021 FY 2020 Property Taxes $1,257,810 $1,282,350 Police Pension Taxes $882,130 $822,222 Other Taxes $1,924,821 $1,210,703 Intergovernmental Revenues $5,065,526 $3,242,618 Licenses & Permits $944,518 $664,531 Fines & Fees $139,786 $132,807 Charges for Services $455,858 $441,268 TIF Payments in Lieu of Taxes $211,633 $204,062 Interest Income $89,563 $376,754 Miscellaneous Revenues $1,066,204 $761,730 GRAND TOTAL $12,037,849 $9,139,045 General Fund Revenues Trends Source FY 2021 FY 2020 General Government*$1,213,860 $1,180,688 Contributions to Police Pension Fund $882,130 $822,222 Public Safety $3,801,152 $3,631,505 Streets and Bridges $2,069,351 $1,367,256 Community Development $636,148 $570,716 Capital Outlay**$1,389,933 $1,099,761 Debt Service $442,451 $437,885 *Includes the following departments: Administration, Finance, and Emergency Management **Includes: Various capital projects or capital items such as vehicles, and equipment for public safety GRAND TOTAL $10,435,025 $9,110,033 General Fund Expenditures Trends Assets $21,218,068 $17,883,628 Deferred outflows of resources $0 $0 Liabilities $916,858 $685,528 Deferred inflows of resources (e.g. property taxes, sales taxes, income taxes)$2,638,246 $2,343,807 General Fund Balance $17,662,964 $14,854,293 The General Fund is the general operating fund of the Village. It is used to pay for services typically associated with governmental activities, such as public safety, street and road maintenance, planning and community development, and the general administration of the Village. In Fiscal Year 2021, the General Fund Balance increased more than $2.8 million, or 18.9%. The increase was a result of conservative spending, the receipt of significantly more revenues than initially anticipated, and the receipt of unanticipated state and federal grant monies. The Village Board strives to maintain a healthy fund balance for future growth and to be prepared for an unanticipated or unforeseen decreases in revenues. At the close of fiscal year 2021, the Village’s General Fund revenues exceeded expenditures by approximately $1.6 million. Fiscal year 2021 was vastly unique in that the Village continued to prosper and thrive amidst an ongoing pandemic. Residential, commercial and industrial building continued throughout the fiscal year, resulting in various revenue sources such as permits, fees, sales tax, and property tax. In addition, fiscal year 2021 includes revenues received from the state and federal governments related to infrastructure and pandemic related expenses. Over the course of the year, the Village Board of Trustees revised the Village budget to account for changes in projected revenues, the speeding up or delay of Village projects, and changes in costs for normal operations. The General Fund’s amended budgeted revenues were approximately $7.2 million, while expenses were approximately $10.8 million. This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command. 9VILLAGE OF CHANNAHON - PAFR FY20218VILLAGE OF CHANNAHON - PAFR FY2021 This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command. Revenues & Expenditures Capital Improvements Property Taxes The Village levies taxes in December each year for both Will and Grundy Counties. The Village collects approximately 6.9% of the total property taxes paid by residential, commercial and industrial parcels. Other Taxes The Village receives various other tax revenues such as state and local sales tax, income and local use tax, gaming tax, cannabis tax, fuel and diesel tax. These tax revenue sources are used to support operating and capital expenditures. Intergovernmental Grants The Village received various state and federal grants during the fiscal year. The grants related to both ongoing infrastructure projects and COVID-19 related expenses. Licenses, Permits, Fines, Fees and Charges for Services The Village collects revenues related to licenses (liquor, business, vending machines), permits (building, application, UTV, mobile food vendors, solicitation), fines and fees (compliance tickets, law enforcement, impound, overweight trucks), and charges for services (franchise fees, security details, contractor registrations). Interest Income and Other Revenues The Village earns interest income on various checking, money market, and investment accounts in addition to miscellaneous revenues from other sources. $6.3 million $0.7 million $1.5 million $1.4 million $12.0 millionTOTAL REVENUES $1.3 millionVillage $0.8 millionPolicePension Fiscal Year 2021 Revenues Fiscal Year 2021 Expenditures Public Safety General Government Streets & Bridges Capital Outlay Community Development Debt Service A solid foundation for the Village includes infrastructure, buildings, ease of transportation, current technology, and excellent public safety services. In order to maintain the foundation of the Village, capital purchases and capital improvements are an essential part of the Village’s success and future. The Village is in the process of reinstituting a five-year capital improvement plan (CIP). A CIP is a tool that will assist the Village in making effective budgeting decisions for large projects and purchases, based on the Village’s goals and available resources. The CIP will provide a link between the Village’s comprehensive and strategic plan and the annual budget. A CIP will provide a working plan for sustaining and improving the community’s infrastructure and department equipment and is essential for managing and coordinating the expenditure of public resources. The Village purchased capital equipment and vehicles for the Police and the Public Works departments, including: • Three Police vehicles to replace deteriorating and aging vehicles within the fleet • Replacement of an old articulating telescopic aerial boom truck • Replacement front loader and skid steer • Two work trucks with snow plows to replace deteriorating and aging vehicles within the Public Works fleet • A replacement dump truck with snow plow Other capital projects continued or completed this year include: • Additional land acquisition for the Bridge Street Multi-Use Path • Completion of the Waste Water Treatment Plant expansion • Completion of the Dove Drive reconstruction Due to the continued investment in capital equipment, vehicles and infrastructure representative of the investment in the future of the Village, increases in expenditures are anticipated each year. 36.5% 20.2% 20.2% 13.5% 5.8% 3.8% This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command. 11VILLAGE OF CHANNAHON - PAFR FY202110VILLAGE OF CHANNAHON - PAFR FY2021 This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command. Department Snapshot: Public Works The Village of Channahon’s Public Works Department is one of the largest departments in the municipality, employing 22 full-time employees and approximately three seasonal employees. Led by Director Edward Dolezal, the department maintains a fleet of 26 trucks and 13 pieces of equipment that are used to maintain all Village-owned property, streets, sidewalks, trees and landscaping, water and sewer systems, buildings and grounds, and snow removal and ice control to provide a pleasant and safe community for the Village’s residents. The Public Works Department consists of two general areas of responsibility: Streets and Utilities. Each division provides services to Channahon residents in an efficient, timely, reliable and cost-effective manner in order to enhance the living and business conditions within the Village. To accomplish these missions, the Public Works Department strives to uphold ongoing maintenance of existing assets and develop a comprehensive Capital Improvement Program to ensure a sustainable high level of service into the future. Streets Division The mission of the Streets Division of the Department of Public Works is to deliver public works services - including maintenance of pavement, right-of-way, buildings and grounds, snow plowing, stormwater drainage management, and engineering review of development - to the residents of the Village of Channahon. Utilities Division The mission of the Utilities Division of the Department of Public Works is to deliver safe and pleasing potable water to the residents of the Village of Channahon. The Utilities Division is also responsible for treating wastewater to minimize environmental impact and maintain sanitary living conditions. The Village of Channahon, through its Public Works Department, draws its drinking water primarily from wells drilled deep into an aquifer and, after treating it to make sure it is safe, distributes it to residences and businesses. Groundwater modeling done by the Illinois State Water Survey indicates that this aquifer that provides drinking water to Channahon and surrounding communities is not sustainable after a few more decades. In response to this situation, the Village has been looking at alternative water sources. The Village, and other surrounding municipalities, have an opportunity to form a new Water Commission in order to obtain the future supply of water from Lake Michigan through the City of Chicago. The commission would provide Lake Michigan water to Channahon’s residents and businesses. The feasibility and cost to do this, along with other alternative sources, has been a primary focus of the Public Works Department for almost two years. A decision whether to join a Lake Michigan Water Commission is expected to be made by the Village Board by January 2022. Potable Water Supply Bridge Street Multi-Use Path In June 2021, the Village of Channahon was awarded $2 million through the Illinois Transportation Enhancement Program (ITEP) for the final phase of the Bridge Street Multi-Use Path project. This marks the Village’s third time applying for and receiving an ITEP grant for the Bridge Street Multi-Use Path project; the Village received a combined total of $1.46 million in ITEP funding in the 2016 and 2018 grant cycles for the design and construction of Phase 1, 2 and the first half of Phase 3 of the project. Upon the final phase’s completion, the Village will have received a total of $3.46 million in ITEP funding for the entire project. Overseen by the Public Works Department, the Bridge Street Multi-Use Path will complete the missing, non-motorized link in the trail system connecting the eastern and western segments of Channahon, including Minooka High School, that are currently divided by the river system. The Bridge Street Multi-Use Path will provide a direct connection to existing area and regional public multi-use trails. At the east end, the path connects to the I&M Canal State Trail, which extends through the Channahon State Park, to the Village Municipal Complex and Commercial Districts, and ultimately through northeastern Illinois. The Bridge Street Multi-Use Path will also advance the goals established in the Village’s 2008 Comprehensive Master Trail Plan and the 2019 Re-Imagine Channahon Comprehensive Plan. The Village was one of 99 communities, out of 270 total applications, to be awarded an ITEP grant in the 2020 program cycle. This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command. 13VILLAGE OF CHANNAHON - PAFR FY202112VILLAGE OF CHANNAHON - PAFR FY2021 This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command. Water & Sewer Fund Wastewater Treatment Plant The most recent expansion of Channahon’s wastewater treatment plan has been in service for about a year. The expansion doubled the treatment capacity to about 1.4 million gallons of wastewater per day. That is enough to treat the wastewater from the equivalent of more than 14,000 people. The new expansion included the ability to remove phosphorus, a plant nutrient that promotes the growth of algae in the receiving waters (the Des Plaines River) of the plant’s effluent. Too much algae degrades the river by using up oxygen or by producing toxins. By now removing the phosphorus, we are further minimizing our negative impact on the environment. The expansion will provide capacity for the Village to continue to develop and grow in a service area roughly between I-55 and McLinden Road. The next major wastewater project will be a new treatment plant east of Brisbin Road to serve the Village from McLinden Road west to Brisbin Road.Water & Sewer Fund Net Position The Village’s Water & Sewer fund net position increased by approximately $2.7 million. Current and other assets, which consist mainly of cash and investments, customer account receivables, intergovernmental receivables (grants, shared taxes with other governmental bodies, etc.), increased by approximately $3.3 million, largely due to state and federal grant monies received and not yet spent, as well as capital asset additions. 2021 2020 Source FY 2020 FY 2021 Salaries $895,633 $750,409 Employee Benefits $184,829 $172,069 Legal and Professional Fees $87,183 $5,844 Engineering Fees $83,426 $26,689 Sewage Transportation $184,511 $183,552 Refuse Removal Contract $1,026,017 $957,841 Utilities $442,855 $366,399 Billing and Office $83,274 $59,711 Repair and Maintenance $333,532 $742,926 Depreciation $1,679,315 $1,390,547 Chemical Supplies and Testing $52,610 $23,014 Misc. Expenses $6,668 $8,166 GRAND TOTAL $5,059,853 $4,687,227 Water & Sewer Fund Expenditures Trends Source FY 2021 FY 2020 Water and Sewer Billings $3,279,722 $2,951,678 Water Meters $59,348 $66,925 Water System Recapture $17,330 $2,750 Water and Sewer Tap/Turn-On Fees $1,511,797 $1,314,565 Refuse Disposal $1,098,231 $1,030,159 Grants $48,039 $0 Miscellaneous Income $272,930 $182,516 GRAND TOTAL $6,287,397 $5,548,593 Water & Sewer Fund Revenues Trends Assets $54,836,919 $51,523,044 Deferred outflows of resources (e.g. pensions)$256,118 $371,531 Liabilities $13,503,136 $13,083,983 Deferred inflows of resources (e.g. pensions)$392,949 $324,157 Water & Sewer Fund Balance $41,196,952 $38,486,435 DidYouKnow? Channahon is home to the Illinois & Michigan (I&M) Canal, which is the centerpiece of the National Heritage Corridor. Originally used to transport goods and services across the state, the I&M Canal today is a 100-mile urban cultural park intended to preserve this Illinois landmark. This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command. 15VILLAGE OF CHANNAHON - PAFR FY202114VILLAGE OF CHANNAHON - PAFR FY2021 This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command. Long-Term Debt Looking Ahead The economic outlook for the Village of Channahon is a positive one. The Village of Channahon is, has been and will continue to experience growth. The pace of development continues to increase in the Village, and the overall interest in investing in the community is expected to continue in upcoming years. Our goal for the future is to account for that continued growth while also remaining conservative in nature. This positive growth is a result of sound fiscal management by staff, the Village’s conservative approach to budgeting and thoughtful consideration related to all decisions made by the Village Board. Channahon continues to be a community in which people want to live, work and visit. General Obligation Bond Ratings Bond ratings are measures of a municipality’s credit risk and ability to pay its debt. The stronger the bond rating, the lower the credit risk. The Village’s bond ratings reflect a very strong ability to fulfill its debt obligations on an annual basis. The Village’s last reaffirmation report for the bond rating stated, “The Village of Channahon has a healthy financial profile with extremely strong reserves and a low debt burden.” Aa2 (very strong) The Village has approximately $8.8 million of General Obligation bonds outstanding and approximately $11.7 million of Illinois Environmental Protection Agency (IEPA) loans outstanding. 53.6% of the total debt outstanding was recently incurred as a result of the wastewater treatment plant expansion project. The following is a summary of the Village’s outstanding debt as of April 30, 2021. 24.5% General Obligation - Non-Utility 18.3% General Obligation - Utility 57.2% Illinois Environmental Protection Agency Loans $3,753,587 $11,720,316 $5,026,350 FY 2021 Total Outstanding Debt Total Outstanding Debt $20,500,253 $0.5 M $1.5 M $2.5 M $3.5 M $4.5 M $5.5 M 20 2 2 20 2 3 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 20 2 9 20 3 0 20 3 1 20 3 2 - 2 0 4 1 Schedule of Debt Payout Don’t think of debt as a burden, but rather an opportunity to fund major capital projects for the growth, success and prosperity for the Village in the present and in the future. The Village funds the annual debt payments from alternate revenue sources other than property taxes. The Village does not levy a tax for any outstanding debt payments. Acknowledgments This report and the information contained herein has been prepared with the help of the Village’s Administrator, Finance Department staff and the cooperation of each Village department. The guidance, support and leadership provided by the Mayor and Board of Trustees in the preparation of this report are all recognized and greatly appreciated. Requests for Information The information contained in the PAFR is a general overview of the Village’s finances. Questions or requests for additional information may be addressed to Finance Director Heather Wagonblott at (815) 467-6644, hwagonblott@channahon.org or to: Village of Channahon Finance Department 24555 S. Navajo Drive Channahon, IL 60410 This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command.This is an Adobe® Illustrator® File that wassaved without PDF Content.To Place or open this le in otherapplications, it should be re-saved fromAdobe Illustrator with the "Create PDFCompatible File" option turned on. Thisoption is in the Illustrator Native FormatOptions dialog box, which appears whensaving an Adobe Illustrator le using theSave As command. v i l l a g e o f a n h ncsixtieth anniversary Village of Channahon 24555 S. Navajo Drive Channahon, IL 60410 (815) 467-6644 www.channahon.org