Finance Commission

Agenda Village of Glen Ellyn Finance Commission Meeting Friday, September 12, 2025 7:00 AM Glen Ellyn Civic Center, Room 301 Visitors are most welcome to attend all meetings of the Finance Commission and can find copies of the Agenda at the meeting or online at www.glenellyn.org prior to the meeting. Any individual with a disability requiring reasonable accommodation in order to participate in a meeting should contact The Village of Glen Ellyn ADA Coordinator, 630-469-5000, at least five (5) business days in advance of the next scheduled meeting. All matters on the Agenda may be discussed, amended, and acted upon. A. Call to Order B. Roll Call C. Public Comment D. Approval of Minutes 1) April 11, 2025 meeting 2) June 27, 2025 special meeting E. Financial Reports 1) 2025 Midyear Financial Report 2) Annual Comprehensive Financial Report and Popular Annual Financial Report for the year ended December 31, 2024 F. 2026 Water & Sewer Rates 1) 2026 Water & Sewer Rate Recommendation G. Staff Report H. Chairperson's Report I. Trustee Liaison's Report J. Other Business K. Reminders 1) Next Meeting: Friday, October 10, 2025 at 7:00 AM L. Adjourn Village of Glen Ellyn Page 1 of 268  Finance Commission Minutes April 11, 2025 A. Call to Order The April 11 ,2025 Finance Commission Meeting was called to order at 6:59 a.m. by Chairperson Chris Goodman, at the Glen Ellyn Civic Center, Room 301. B. Roll Call Chris Goodman Chair Present Lea Dan Vice-Chair Present Anne Arnold Commissioner Present (remote participation) Mike Graham Commissioner Present Leo Hoerdermann Commissioner Present Grant Lavery Commissioner Absent Kevin Moffitt Commissioner Present Brian Niksa Commissioner Present Scott Waldbusser Commissioner Absent Motion to allow Commissioner Arnold to participate remotely. Motion: Chairperson Goodman Second: Commissioner Moffitt Ayes: Commissioners Goodman, Moffitt, Dan, Niksa, Hoerdermann, Graham Nay: None Result: Unanimous approval Also Present: Village Manager Mark Franz Finance Director Patrick Brankin Assistant Finance Director Michele Chaparro Village Trustee Kelli Christiansen Assistant Public Works Director Justin Ross Utilities Superintendent Nick Burgoni Student Observer Eric Lowrie C. Public Comment None 1 Page 2 of 268 D. Approval of Minutes Approval of the March 14, 2025, meeting’s minutes Motion to Approve Minutes from March 14 ,2025 Finance Commission Meeting as amended Motion: Chairperson Goodman Mover: Commissioner Moffitt Seconded: Commissioner Dan Result: Unanimous Approval E. Lead Service Line Replacement Finance Director Brankin began by outlining that approximately 11 million dollars in capital spending is required to complete the federally mandated lead service line replacement project. The project must be completed by late 2027. At present, there is no dedicated funding mechanism in place for this initiative. Finance Director Brankin noted that the water and sewer fund does have reserves, however, all monies in reserve are necessary to sustain the operations of the water and sewer fund as well as other capital spending. Finance Director Brankin then introduced Utilities Superintendent Burgoni and Asst. Public Works Director Ross to further define the project. Superintendent Burgoni stated that Public Works has identified 400 lead replacements for both the public and private sections and about 1204 unknown service lines that still need to be verified. Following verification, Public Works is estimating that approximately 1136 lines, including both public and private service lines, will require replacement. Currently, Public Works is hoping to replace 20 lines on the public-side per year using in-house labor. Superintendent Burgoni provided an overview of the replacement process, limitations, planning, costs and potential saving from replacing 20 lines per year in-house. He also outlined the updated mandates, restrictions if using any IEPA grants or loans, and 2025 expected replacement schedule. Questions and discussions ensued regarding what recommendations that the Finance Commission could bring to the Village Board. Chairperson Goodman clarified that the Village staff is seeking the Finance Commission’s consensus on how the Village should proceed with the project and secure funding. Finance Director Brankin stated that the Village staff’s recommendation is that the Village pay for the private side of replacement lines. The discussion then shifted to various fee structures and debt funding options that could assist in financing the project. Village Manager Franz suggested hiring a consultant to assist with securing loans and grants, particularly in the first year of the project. Utility Superintendent Burgoni provided funding projections to the commission and questions were fielded concerning funding and who should be paying for the private side of the project and how surrounding municipalities would be proceeding with the lead line replacement. Finance Director Brankin asked the commission if there was a consensus on a recommendation to the Village Board on whether the Village should fund the private portion of the replacement and whether a monthly fee should be instituted to generate revenue for the project. 2 Page 3 of 268  Motion to recommend to the Village Board that the Village of Glen Ellyn pays 100% for the private portion of the lead line replacement costs. Motion: Chairperson Goodman Second: Commissioner Niksa Ayes: Commissioners Moffitt, Dan, Niksa, Arnold, Hoerdermann, Goodman Nay: Commissioner Graham Following the motion, the commission discussed the second aspect of the recommendation-how to fund the project. Finance Director Brankin emphasized that staff is looking to the Finance Commission to make a recommendation to the Village Board on funding the project. The staff has focused on adding a monthly fee to the utility bills that would be a temporary fee. Once the project has been funded, the fee would be eliminated. Discussions ensued and questions were brought forward to define the recommendation. Utilities Superintendent Burgoni reminded the commission that there is a mandate that requires the village to replace 10% of the lines, approximately 113 lines per year effective immediately. It was also stressed that a recommendation does not have last for 10-12 years but just to begin the process because of the urgent need to fund the project. The commission continued deliberating on the recommendation, with Finance Director Brankin offering alternative suggestions. The goal is to present a recommendation or, at the very least, an update to the Village Board during the workshop scheduled for Monday, April 21,2025. Motion to recommend that the Village Board approve a $6 fee per month per account which would be effective on July 1, 2025 and would sunset once enough revenue has been generated to meet the Village’s financial obligations related to lead service line replacement. Included in the recommendation is that the Village Board approve the use of $500,000 in General Fund reserves to begin funding lead service line replacement. Motion: Commissioner Hoerdermann Second: Commissioner Goodman Ayes: Commissioners Goodman, Graham, Dan, Niksa, Hoerdermann Nays: Commissioner Moffitt F. Staff Report The Grocery Tax will be on the Village Board workshop at 6 p.m. Monday, April 14th. G. Chairperson’s Report None H. Trustee Liaison’s Report None I. Other Business None 3 Page 4 of 268 J. Reminders 1) Next Meeting: Friday, May 9, 2025, at 7:00 a.m. K. Adjourn Chairperson Goodman moved to adjourn, and Commissioner Niksa seconded the motion. The meeting was adjourned at 8:46 a.m. Submitted By: Colette Ameche, Recording Secretary 4 Page 5 of 268  Finance Commission Minutes June 27, 2025 A. Call to Order The June 27th Finance Commission Meeting was called to order at 7:00 a.m. by Chairperson Chris Goodman, at the Glen Ellyn Civic Center, Room 301. B. Roll Order Chris Goodman Chair Present Lea Dan Vice-Chair Present Anne Arnold Commissioner Absent Mike Graham Commissioner Present Leo Hoerdermann Commissioner Present Grant Lavery Commissioner Present Kevin Moffitt Commissioner Present Brian Niksa Commissioner Present Scott Waldbusser Commissioner Present Also Present: Finance Director Patrick Brankin Village Trustee Kelli Christiansen Foster & Foster Actuary Consultant Heidi Andorfer, FSA, EA MAAA C. Public Comment None D. Police Pension Actuarial Valuation Finance Director Brankin introduced Heidi Andorfer of Foster & Foster Actuary Consultants, who presented the 2025 Actuarial Valuation to the commission. She opened by comparing the current report with the prior year, highlighting key shifts in funded status and required contributions. Two primary unfavorable experiences were noted: investment returns continue to recover from previous losses, and salary increases exceeded expectations. A portion of the discussion focused on the differences between Tier 1 and Tier 2 plans, with the potential alignment of Tier 2 benefits more closely with Tier 1. Ms. Andorfer emphasized that such changes would significantly impact future liabilities, prompting detailed questions and analysis. Finance Director Brankin specifically asked Ms. Andorfer to address the recent growth of the Village’s contributions to the Police Pension Plan and to confirm whether this rate is expected to slow in the future. In response, Ms. Andorfer highlighted various factors affecting this increase, most notably the Village’s recent adoption of a 15-year rolling amortization. This will continue to cause increases until the 15 year period is reached. Additionally, Ms. Andorfer explained that the current assumption of a 6.5% interest rate is conservative compared to many peer plans using higher return assumptions. She noted that raising this assumption would likely lead to reduced contributions compared to leaving the assumption unchanged. It was pointed out that implementing this change would require an amended funding policy. 1 Page 6 of 268  A five-year comparative review followed, focusing on return volatility and the logic behind the 6.5% assumption. Ms. Andorfer described how the assumption was selected and reinforced that alterations to it aren’t permissible without a formal policy change. Chairperson Goodman added context by noting the prior formation of a subcommittee dedicated to evaluating the Police Pension Fund. The presentation included a participant reconciliation chart, which demonstrated year-over-year changes in census data. Ms. Andorfer reiterated that the actuaries use a “snapshot” valuation method that captures plan membership as of January 1. Any mid-year changes will be reflected in the subsequent year’s valuation. She then walked through the principal valuation results, explaining asset volatility, assumption methods, and the bottom-line funding requirement as of January 1, 2025. Throughout this segment, participants asked numerous questions regarding realized versus projected contributions, asset value fluctuations, and actuarial assumptions. Further discussion addressed payroll growth assumptions and provisions for buyouts. In conclusion, Ms. Andorfer reviewed the Plan Provisions chart, which detailed the distinctions between Tier 1 and Tier 2 benefits, reinforcing the implications of any proposed changes. E. Financial Reports Finance Director Brankin introduced the 2025 First Quarter Financial Report, noting that it is preliminary, unaudited, and prepared on a cash basis. Revenues are slightly behind last year’s figures, primarily due to lower building permit receipts, but remain in line with budget projections. While expenditures exceeded the prior year, they are still under budget. Brankin explained various timing differences and highlighted the Sales, home rule sales, and income tax revenues. Core revenue sources and General Fund expenditures were examined, with discussion about how they aligned with budget expectations and actual first-quarter outcomes. Similar presentations were made for all other funds, showing actual results compared to budgeted figures. Quarterly financials for the Village Links followed, showing results comparable to the same period last year. Cash reserves were reviewed, including the minimum amounts required by policy and current actual balances. Brankin highlighted any instances where reserves dipped below policy and explained the timing for remediating shortfalls. Finance Director Brankin provided an update on the Police Pension Fund, detailing its financial performance relative to long-term target allocations. F. Staff Report On June 23rd, the Village Board unanimously approved a new $6/month fee to be added to all utility accounts to assist in covering the cost of the Lead Line Replacement Program. The Board has not yet decided on private line replacement or determined any reimbursement amounts for any homeowners who have already replaced lines; therefore, neither issue is included in the current ordinance. The July Finance Committee meeting is tentatively cancelled, but further communications will follow. The investment sub commission recently met to discuss continuing the existing investment strategy. G. Chairperson Report The Finance Committee summer meeting schedule will be consolidated, and information will be forthcoming. 2 Page 7 of 268 H. Trustee Liaison’s Report The Lead Services Replacement Program was presented to the Village Board and as mentioned above did approve a $6/month fee onto utility bills. A sign variation was approved for the Glen Ellyn Food Pantry. The next Board meeting is July 14th. I. Other business None J. Reminders Look for updates for the timing of the next Finance Committee meeting. K. Adjourn Chairperson Goodman motioned to adjourn; Commissioner Dan moved, and Commissioner Moffit seconded the motion. The meeting was adjourned at 8:06 a.m. Submitted By: Colette Ameche, Recording Secretary 3 Page 8 of 268  Glen Ellyn Finance Meeting 9/12/2025 7:00 AM Commission Department: Finance 535 Duane Street Department Head: Patrick Brankin Glen Ellyn, IL 60137 Category: Report Prepared By: Patrick Brankin AGENDA ITEM (ID DOC ID: 2025-761 # 2025-761) 2025 Midyear Financial Report Statement of the Issue: Analysis: Budget Impact: Contribution to Strategic Plan Action Requested: Attachments: 1. 2025 Q2 Financial Report 2. Village Links Financial Statements Q2 2025 Page 9 of 268 2025 Midyear Financial Report Page 10 of 268 About This Report January 1, 2025 to June 30, 2025 Preliminary and Unaudited Budgetary Basis (Cash Basis) Page 11 of 268  General Fund Year to Date Revenues and Expenditures $14,500,000 • Revenues exceed prior year-to-date by $307,000, primarily due to $14,000,000 strength of core revenues. $13,500,000 • Revenues exceed FY25 YTD budget $13,000,000 by $256,000 or 1.8%. $12,500,000 • Expenditures are greater than prior $12,000,000 year by $711,000, which is $11,500,000 attributable to police and EMS. $11,000,000 • Expenditures are below FY25 YTD budget by $918,000 or 7%. $10,500,000 Revenues, year to date Expenditures, year to date Last year 13,616,078 11,956,179 Budget 13,667,048 13,585,133 Current year 13,923,418 12,667,436 Page 12 of 268 General Fund Core Revenues as % of Budget Target Target Target 49.2% 48.5% 56.2% Page 13 of 268  YTD Core Revenues $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $- 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Sales Tax Home Rule Sales Tax Income Tax Page 14 of 268 General Fund Budget Trends • YTD expenditures are 6% above FY24 • Fewer vacancies • Rising personnel costs • Rising contractual costs • YTD expenditures are 7% below FY25 budget • Economic Development – fewer incentive payments • Vacancies in certain departments Page 15 of 268  General Fund Cumulative Change in Fund Balance $3,000,000 $2,000,000 $1,000,000 $- $(1,000,000) $(2,000,000) $(3,000,000) January February March April May June July August September October November December 2025 Budget 2021 2022 2023 2024 2025 Page 16 of 268  Capital Projects Fund - Real Estate Transfer Tax 70 $900,000 $800,000 60 $700,000 50 $600,000 Number Processed $ Cumulative RETT 40 $500,000 $400,000 30 $300,000 20 $200,000 10 $100,000 0 $- January February March April May June July August Sept Oct Nov Dec RETT transactions (# processed), 2023 RETT transactions (# processed), 2024 RETT transactions (# processed), 2025 RETT transactions ($ cumulative), 2023 RETT transactions ($ cumulative), 2024 RETT transactions ($ cumulative), 2025 Page 17 of 268  Capital Projects Fund – Food & Beverage Tax Monthly totals and 12 month rolling average, since inception $300,000 $250,000 Jan-25, $152,776 $200,000 Jan-21, $100,189 $150,000 $100,000 $50,000 $0 Jan-20 Jul-20 Jan-21 Jul-21 Jan-22 Jul-22 Jan-23 Jul-23 Jan-24 Jul-24 Jan-25 Downward Trend Max, Min, Average, Current Monthly Total 12 mo rolling average Page 18 of 268 Other Funds Water & Sewer Fund • Fee revenue 44% of budget (43% in prior year) • Total expenses 50% of budget (incl. encumbrances) Parking Fund • Total revenue 25% of budget (27% in PY) • Total expenses 60% of budget (incl. encumbrances) Residential Solid Waste Fund • Total revenues 49% of budget (49% in PY) • Total expenses 45% of budget (49% in PY) Village Links/Reserve 22 • See included financial statements Page 19 of 268  Cash Reserves Fund Available Cash Minimum Policy Above/(Below) Policy General $ 12,022,939 $ 8,003,411 $ 4,019,528 Water & Sewer $ 11,813,827 $ 2,707,597 $ 9,106,229 Parking $ 2,008,378 $ 103,744 $ 1,904,635 Solid Waste $ 590,374 $ 520,050 $ 70,324 Village Links $ 2,100,602 $ 1,859,419 $ 241,183 Page 20 of 268 Police Pension Fund Illinois Police Officers’ Pension Investment Fund (IPOPIF) • State mandated consolidation completed April 1, 2022 • IPOPIF long-term investment target 6.8% • Village long-term target 6.5% Inception IPOPIF YTD 1 Year to Date Fund investment performance, net of 8.37% 12.72% 6.62% fees Page 21 of 268 Questions? Page 22 of 268  VILLAGE LINKS / RESERVE 22 STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION 22 As of June 30, 2025 2025 MONTH YEAR-TO-DATE ORG DESCRIPTION BUDGET 2025 2024 DIFF % DIFF 2025 2024 DIFF % DIFF REVENUES: 5500 Village Links Revenues $ 4,391,100 $ 768,679 $ 737,711 $ 30,968 4% $ 1,999,050 $ 1,950,196 $ 48,854 3% 5520 Reserve 22 Revenues 3,748,450 455,952 478,660 (22,708) -5% 1,508,763 1,547,163 (38,400) -2% Total Revenues $ 8,139,550 $ 1,224,632 $ 1,216,372 $ 8,260 1% $ 3,507,813 $ 3,497,359 $ 10,454 0% EXPENDITURES: 55700 Administration $ 802,432 $ 57,310 $ 47,387 $ 9,923 21% $ 405,040 $ 307,341 $ 97,699 32% 55710 Golf Course Maintenance 1,485,560 149,633 165,006 (15,373) -9% 710,931 725,420 (14,489) -2% 55720 Golf Services 1,111,406 115,591 155,051 (39,460) -25% 457,708 521,638 (63,930) -12% 55730 Reserve 22 3,358,636 343,199 403,520 (60,321) -15% 1,541,209 1,569,856 (28,647) -2% 55740 Stormwater Management 51,585 1,494 1,020 475 47% 39,029 7,556 31,473 417% 55750 Pro Shop Merchandise 175,053 33,892 33,351 541 2% 88,032 75,632 12,400 16% 55780 Motorized Carts 68,060 9,918 10,841 (923) -9% 20,729 21,440 (711) -3% 557X5 Mechanical Maintenance 417,756 34,799 27,036 7,763 29% 185,407 201,513 (16,106) -8% Total Operating Expenses $ 7,470,488 $ 745,836 $ 843,211 $ (97,375) -12% $ 3,448,085 $ 3,430,396 $ 17,689 1% Operating Income $ 669,062 $ 478,796 $ 373,160 $ 105,636 28% $ 59,728 $ 66,963 $ (7,235) -11% Debt Service 303,100 36,550 40,950 (4,400) -11% 36,550 40,950 (4,400) -11% Capital Expenditures 498,520 - 88,254 (88,254) -100% 400,079 507,478 (107,399) -21% CHANGE IN NET POSITION $ (132,558) $ 442,246 $ 243,956 $ 198,290 81% $ (376,901) $ (481,466) $ 104,565 -22% KEY METRICS Goal Personnel Expenses as % of Sales 50% 32% 33% 0% 53% 53% 1% Cash Balance (End of Month, in $000's) $ 1,860 $ 2,182 $ 2,279 $ (97) 9/2/2025 Page 1 of 1 Page 23 of 268  VILLAGE LINKS STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION 22 GOLF (Including Administration, Grounds, & Mechanical Maintenance) As of June 30, 2025 ORG/ 2025 MONTH YEAR-TO-DATE OBJECT DESCRIPTION BUDGET 2025 2024 DIFF % DIFF 2025 2024 DIFF % DIFF 5500 VILLAGE LINKS REVENUES: 440550 Green Fees $ 2,800,000 $ 497,614 $ 475,446 $ 22,168 5% $ 1,214,110 $ 1,196,833 $ 17,277 1% 440554 Pro Shop - Sales 200,000 35,480 34,475 1,005 3% 95,561 89,377 6,184 7% 440555 Motor Carts 650,000 115,359 117,101 (1,742) -1% 260,664 264,036 (3,372) -1% 440556 Driving Range 500,000 90,196 84,645 5,551 7% 248,142 248,294 (153) 0% 440557 Resident Cards 35,000 3,880 3,770 110 3% 31,855 32,445 (590) -2% 460100 Investment Income 60,000 6,852 5,942 910 15% 46,401 35,582 10,819 30% 489000 Miscellaneous Revenue 146,100 19,423 16,213 3,210 20% 102,483 83,741 18,742 22% 489100 Miscellaneous - Over/Short - (125) 119 (244) -205% (165) (113) (52) 46% Total Revenues $ 4,391,100 $ 768,679 $ 737,711 $ 30,968 4% $ 1,999,050 $ 1,950,196 $ 48,854 3% COST OF GOODS SOLD: 520945 Cost of Goods Sold - Pro Shop $ 140,000 $ 31,171 $ 30,435 $ 736 2% $ 73,122 $ 57,302 $ 15,820 28% Total Cost of Goods Sold $ 140,000 $ 31,171 $ 30,435 $ 736 2% $ 73,122 $ 57,302 $ 15,820 28% Gross Profit $ 4,251,100 $ 737,508 $ 707,276 $ 30,232 4% $ 1,925,928 $ 1,892,894 $ 33,034 2% OTHER OPERATING EXPENSES: 510100 Salaries - Pensionable $ 1,314,522 $ 105,309 $ 109,324 $ (4,015) -4% $ 630,372 $ 633,391 $ (3,019) 0% 510120 Salaries - Non-Pensionable 488,163 81,450 70,908 10,543 15% 184,292 167,441 16,851 10% 510200 Salaries - Overtime 23,500 5,570 2,404 3,166 132% 12,859 6,689 6,169 92% 510400 FICA Taxes 139,705 14,514 13,750 765 6% 62,132 60,456 1,677 3% 510500 IMRF 68,670 5,564 4,918 646 13% 32,582 28,173 4,409 16% 590600 Health Insurance 146,100 10,341 11,095 (755) -7% 67,550 72,120 (4,570) -6% 52XXXX Contractual Services 1,211,242 104,772 109,729 (4,958) -5% 562,103 491,641 70,462 14% 53XXXX Commodities 579,950 43,945 87,127 (43,182) -50% 281,863 343,327 (61,464) -18% Total Operating Expenses $ 3,971,852 $ 371,465 $ 409,256 $ (37,790) -9% $ 1,833,754 $ 1,803,238 $ 30,516 2% Operating Income $ 279,248 $ 366,043 $ 298,020 $ 68,023 23% $ 92,174 $ 89,655 $ 2,519 3% Operating Income Percentage 6% 48% 40% 5% 5% KEY METRICS Goal Rounds Played 80,000 14,270 14,186 84 35,511 37,237 (1,726) Revenue Per Round $ 54.89 $ 53.87 $ 52.00 $ 1.86 $ 56.29 $ 52.37 $ 3.92 Resident Cards Sold N/A 215 204 11 2,470 2,656 (186) Cost of Goods Sold % - Pro Shop 70% 88% 88% 0% 77% 64% 12% Personnel Expenses as % of Sales 50% 29% 29% 0% 50% 50% 0% 9/2/2025 Page 1 of 2 Page 24 of 268  VILLAGE LINKS STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION 22 GOLF (Including Administration, Grounds, & Mechanical Maintenance) As of June 30, 2025 ORG/ 2025 MONTH YEAR-TO-DATE OBJECT DESCRIPTION BUDGET 2025 2024 DIFF % DIFF 2025 2024 DIFF % DIFF MISCELLANEOUS REVENUE Miscellaneous Revenue includes the following items that don't fit into any of the major revenue categories: Adult & Junior Golf Lessons $ 12,007 $ 7,470 $ 4,537 $ 45,171 $ 45,800 $ (629) Hand Cart Rentals 4,778 5,903 (1,125) 13,707 18,544 (4,837) Equipment Sold at Auction - - - 31,406 - 31,406 Golf Club Rentals 1,730 2,010 (280) 3,250 3,730 (480) Locker Rentals 300 - 300 4,100 200 3,900 Illinois Sales Tax (1.75%) 525 520 5 1,751 1,689 61 Glen Ellyn Food & Beverage Tax (1%) 54 60 (6) 178 184 (6) Tree Donation - 250 (250) 1,000 250 750 Miscellaneous 29 - 29 1,920 13,344 (11,423) Total $ 146,100 $ 19,423 $ 16,213 $ 3,210 $ 102,483 $ 83,741 $ 18,742 9/2/2025 Page 2 of 2 Page 25 of 268  RESERVE 22 STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION 22 As of June 30, 2025 ORG/ 2025 MONTH YEAR-TO-DATE OBJECT DESCRIPTION BUDGET 2025 2024 DIFF % DIFF 2025 2024 DIFF % DIFF 5520 RESERVE 22 REVENUES: 441100 Food $ 2,111,500 $ 234,500 $ 248,577 $ (14,077) -6% $ 864,998 $ 879,789 $ (14,791) -2% 441101 Liquor 483,800 71,658 66,500 5,158 8% 188,033 192,086 (4,053) -2% 441102 Beer 557,100 83,154 85,536 (2,382) -3% 222,748 230,511 (7,763) -3% 441103 Wine 242,900 23,700 25,193 (1,493) -6% 97,705 104,324 (6,620) -6% 441104 NA Beverages 121,500 18,617 24,717 (6,100) -25% 43,273 51,833 (8,560) -17% 441106 Room Charges 3,800 169 - 169 0% 1,479 1,550 (71) -5% 441107 Service Charges 227,600 24,272 28,121 (3,849) -14% 89,994 87,091 2,903 3% 489000 Miscellaneous Revenue 250 (119) 16 (135) -859% 533 (22) 555 -2546% Total Revenues $ 3,748,450 $ 455,952 $ 478,660 $ (22,708) -5% $ 1,508,763 $ 1,547,163 $ (38,400) -2% 55730 COST OF GOODS SOLD: 530400 Cost of Goods Sold - Beer $ 144,850 $ 18,204 $ 23,069 $ (4,865) -21% $ 54,839 $ 61,209 $ (6,370) -10% 530401 Cost of Goods Sold - Wine 75,300 5,995 9,827 (3,832) -39% 27,638 29,733 (2,095) -7% 530402 Cost of Goods Sold - Liquor 101,600 11,025 18,902 (7,878) -42% 40,119 41,817 (1,699) -4% 530405 Cost of Goods Sold - NA Beverages 63,180 11,501 15,552 (4,051) -26% 27,808 37,136 (9,327) -25% 530420 Cost of Goods Sold - Food 675,680 81,558 105,616 (24,058) -23% 291,871 320,123 (28,252) -9% Total Cost of Goods Sold $ 1,060,610 $ 128,282 $ 172,967 $ (44,684) -26% $ 442,275 $ 490,018 $ (47,743) -10% Gross Profit $ 2,687,840 $ 327,670 $ 305,694 $ 21,976 7% $ 1,066,488 $ 1,057,145 $ 9,343 1% Gross Profit Percentage 72% 72% 64% 71% 68% 55730 OTHER OPERATING EXPENSES: 510100 Salaries - Pensionable $ 838,556 $ 66,658 $ 71,393 $ (4,735) -7% $ 433,636 $ 400,130 $ 33,506 8% 510120 Salaries - Non-Pensionable 749,543 78,959 86,663 (7,703) -9% 308,158 341,103 (32,945) -10% 510200 Salaries - Overtime 7,500 460 535 (75) -14% 1,244 2,596 (1,352) -52% 510399 Tips Paid Through Payroll - (113) 725 (838) -116% 3,812 (2,417) 6,228 -258% 510400 FICA Taxes 153,178 15,244 16,094 (850) -5% 69,924 70,552 (628) -1% 510500 IMRF 43,689 4,344 4,069 275 7% 26,511 22,412 4,099 18% 590600 Health Insurance 85,500 7,162 7,068 94 1% 46,555 44,804 1,751 4% 52XXXX Contractual Services 227,560 27,370 23,054 4,316 19% 119,324 103,771 15,553 15% 53XXXX Commodities 192,500 14,833 20,954 (6,121) -29% 89,770 96,887 (7,116) -7% Total Operating Expenses $ 2,298,026 $ 214,917 $ 230,553 $ (15,637) -7% $ 1,098,934 $ 1,079,838 $ 19,096 2% Operating Income (Loss) $ 389,814 $ 112,753 $ 75,140 $ 37,613 50% $ (32,446) $ (22,693) $ (9,753) 43% Operating Income (Loss) Percentage 10% 25% 16% -2% -1% 9/2/2025 Page 1 of 2 Page 26 of 268  RESERVE 22 STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION 22 As of June 30, 2025 ORG/ 2025 MONTH YEAR-TO-DATE OBJECT DESCRIPTION BUDGET 2025 2024 DIFF % DIFF 2025 2024 DIFF % DIFF KEY METRICS Goal Revenue Source: Restaurant & Bar N/A $ 263,700 $ 257,539 $ 6,161 2% $ 873,311 $ 916,671 $ (43,360) -5% Banquets N/A 125,242 153,226 (27,984) -18% 483,877 474,820 9,058 2% Other N/A 67,010 67,895 (885) -1% 151,575 155,673 (4,097) -3% Total $ 3,748,450 $ 455,952 $ 478,660 $ (22,708) -5% $ 1,508,763 $ 1,547,163 $ (38,400) -2% Reserve 22 Revenues (Last 12 Months) $ 3,748,450 $ 3,553,993 $ 3,656,664 $ (102,671) -3% Reserve 22 Expenses (Last 12 Months) $ 3,358,636 $ 3,308,305 $ 3,413,359 $ (105,053) -3% # Guest Checks (Restaurant/Bar) N/A 6,784 6,661 123 20,197 21,265 (1,068) Revenue Per Guest Check N/A $ 38.87 $ 38.66 $ 0.21 $ 43.24 $ 43.11 $ 0.13 # Guests (Restaurant/Bar) N/A 10,248 10,367 (119) 30,943 33,969 (3,026) Average Guest Spend N/A $ 25.73 $ 24.84 $ 0.89 $ 28.22 $ 26.99 $ 1.24 Cost of Goods Sold % 28% 28% 36% -8% 29% 32% -2% Cost of Goods Sold % (By Category): Cost of Goods Sold - Beer 26% 22% 27% -5% 25% 27% -2% Cost of Goods Sold - Wine 31% 25% 39% -14% 28% 29% 0% Cost of Goods Sold - Liquor 21% 15% 28% -13% 21% 22% 0% Cost of Goods Sold - NA Beverages 52% 62% 63% -1% 64% 72% -7% Cost of Goods Sold - Food 32% 35% 42% -8% 34% 36% -3% Personnel Expenses as % of Revenues 50% 38% 39% -1% 59% 57% 2% Prime Cost (Cost of Goods Sold + Personnel Expenses) as % of Revenues 78% 66% 75% -9% 88% 89% -1% 9/2/2025 Page 2 of 2 Page 27 of 268  Village Links / Reserve 22 Dashboard Financial Reports As of June 30, 2025 Year-To-Date Net Income Year-to-Date Operating Income (Including Capital and Debt Expenditures) (Excluding Capital and Debt Expenditures) $2,000,000 $2,200,000 $1,800,000 $2,000,000 $1,600,000 $1,800,000 $1,400,000 $1,600,000 $1,200,000 $1,400,000 $1,000,000 $1,200,000 $800,000 $1,000,000 $600,000 $800,000 $600,000 $400,000 $400,000 $200,000 $200,000 $- $- $(200,000) 2021 $(200,000) $(400,000) 2022 $(400,000) $(600,000) 2023 $(600,000) $(800,000) 2024 $(800,000) $(1,000,000) 2025 2021 2022 2023 2024 2025 Reserve 22 Operating Income Reserve 22 Revenues (Excluding Capital and Debt Expenditures) 12-Month Rolling Revenues $600,000 $4,500,000 $4,300,000 $500,000 $4,100,000 $400,000 $3,900,000 $3,700,000 $300,000 $3,500,000 $3,300,000 $200,000 $3,100,000 $100,000 $2,900,000 $2,700,000 $- $2,500,000 $(100,000) $(200,000) 12-Month Rolling Revenue Budget 2021 2022 2023 2024 2025 Golf Operating Income Cash Reserves (Excluding Capital and Debt Expenditures) $4,000,000 $1,800,000 $3,500,000 $1,600,000 $3,000,000 $1,400,000 $1,200,000 $2,500,000 $1,000,000 $2,000,000 $800,000 $1,500,000 $600,000 $400,000 $1,000,000 $200,000 $500,000 $- $- $(200,000) $(400,000) $(600,000) 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 9/2/2025 Page 1 of 1 Page 28 of 268  Glen Ellyn Finance Commission Meeting 9/12/2025 7:00 AM 535 Duane Street Department: Finance Glen Ellyn, IL 60137 Department Head: Category: Report Prepared By: AGENDA ITEM (ID # 2025-762) DOC ID: 2025-762 Annual Comprehensive Financial Report and Popular Annual Financial Report for the year ended December 31, 2024 Statement of the Issue: Each year, the Village must undergo an audit of its financial statements. Attached to this item are the Village’s audited financial statements for the fiscal year 2024, which covers the period from January 1, 2024 to December 31, 2024. Analysis: Financial Statement Highlights Attached to this agenda item is the full Annual Comprehensive Financial Report for the fiscal year ended December 31, 2024, in compliance with the Illinois Municipal Auditing Law, 65 ILCS 5/8-8- 1 et seq. Some notable items about this report and the audit process include: Opinion The Village received an “unmodified” audit opinion, which is the best possible outcome resulting from the independent audit process. An unmodified opinion means that no exceptions were noted which would result in a material misstatement of financial information presented. The opinion can be found on pages 12-14 of the attached document. Our auditors from Lauterbach and Amen, LLP will be in attendance at the meeting to answer any questions the Board may have. Management’s Discussion and Analysis Immediately following the auditor’s opinion letter is the Management’s Discussion and Analysis. This provides a narrative summary of the results of Village operations and its financial position as of December 31, 2024. This is the best place for a casual reader to focus their attention for an overview of the Village’s financial performance. Financial Performance As noted above, the Management's Discussion and Analysis provides a good overview of the 2024 financial performance. Page 16 of the attached Annual Comprehensive Financial Report provides a high-level breakdown of the Village's overall performance during the year. Management Letter The audit also includes an assessment of the Village’s internal control structure and would report any significant deficiencies or material weaknesses in internal control that were found during the Page 29 of 268 audit. There were no such material weaknesses or significant deficiencies identified. The auditing firm also issued a management letter, which addresses more minor recommendations, which is attached to this agenda item. Management’s comments are included within the letter. SAS 114 Letter to those Charged with Governance Auditing standards require a SAS 114 letter be delivered to the Village Board for each audit. This letter highlights certain areas required by auditing standards and is attached to this agenda item. Popular Annual Financial Report Prepared once again for the 2024 fiscal year is a Popular Annual Financial Report (PAFR). The PAFR is intended to break down the dense financial information contained in the Annual Comprehensive Financial Report into a shorter and more easily understood document for the residents and elected officials of the Village. Budget Impact: N/A Contribution to Strategic Plan Action Requested: None - discussion only. Attachments: 1. Glen Ellyn ACFR 24 2. Glen Ellyn SAS 114 Letter 24 3. Glen Ellyn Management Letter 24 4. Glen Ellyn PAFR 2024 Page 30 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2024 535 Duane Street Glen Ellyn, Illinois 60137 Phone: 630.547.5353 www.glenellyn.org Page 31 of 268  VILLAGE OF GLEN ELLYN, ILLINOIS ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2024 Prepared by: Financial Department Patrick Brankin Finance Director Page 32 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS TABLE OF CONTENTS PAGE INTRODUCTORY SECTION Letter of Transmittal 1 Principal Officials 7 Organizational Chart 8 Certificate of Achievement for Excellence in Financial Reporting 9 FINANCIAL SECTION INDEPENDENT AUDITOR'S REPORT 12 MANAGEMENT’S DISCUSSION AND ANALYSIS 16 BASIC FINANCIAL STATEMENTS Government-Wide Financial Statements Statement of Net Position 30 Statement of Activities 32 Fund Financial Statements Balance Sheet - Governmental Funds 34 Reconciliation of Total Governmental Fund Balance to the Statement of Net Position - Governmental Activities 36 Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds 38 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances to the Statement of Activities - Governmental Activities 40 Statement of Net Position - Proprietary Funds 42 Statement of Revenues, Expenses, and Changes in Net Position - Proprietary Funds 46 Statement of Cash Flows - Proprietary Funds 48 Statement of Fiduciary Net Position 50 Statement of Changes in Fiduciary Net Position 51 Notes to Financial Statements 52 Page 33 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS TABLE OF CONTENTS PAGE FINANCIAL SECTION - Continued REQUIRED SUPPLEMENTARY INFORMATION Schedule of Employer Contributions Illinois Municipal Retirement Fund - Last Ten Fiscal Years 97 Police Pension Fund - Last Ten Fiscal Years 98 Schedule of Changes in the Employer's Net Pension Liability/(Asset) Illinois Municipal Retirement Fund - Last Ten Fiscal Years 100 Police Pension Fund - Last Ten Fiscal Years 102 Schedule of Investment Returns Police Pension Fund - Last Ten Fiscal Years 104 Schedule of Changes in the Employer’s Total OPEB Liability Retiree Benefit Plan 106 Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual General Fund 108 Central Business District TIF - Special Revenue Fund 109 OTHER SUPPLEMENTARY INFORMATION Schedule of Revenues - Budget and Actual - General Fund 114 Schedule of Expenditures - Budget and Actual - General Fund 116 Schedule of Detailed Expenditures - Budget and Actual - General Fund 117 Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Debt Service Fund 128 Capital Projects Fund 129 Schedule of Expenditures - Budget and Actual - Capital Projects Fund 130 Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Facility Maintenance Reserve - Capital Projects Fund 131 Combining Balance Sheet - Nonmajor Governmental Funds 132 Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Governmental Funds 133 Combining Balance Sheet - Nonmajor Special Revenue Funds 135 Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Special Revenue Funds 137 Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Motor Fuel Tax - Special Revenue Fund 139 Roosevelt Road TIF - Special Revenue Fund 140 Page 34 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS TABLE OF CONTENTS PAGE FINANCIAL SECTION - Continued OTHER SUPPLEMENTARY INFORMATION - Continued Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Fire Services - Special Revenue Fund 141 Forfeiture - Special Revenue Fund 142 Corporate Reserve - Capital Projects Fund 143 Schedule of Revenues, Expenses, and Changes in Net Position - Budget and Actual Water and Sanitary Sewer - Enterprise Fund 144 Schedule of Operating Expenses - Budget and Actual Water and Sanitary Sewer - Enterprise Fund 145 Schedule of Revenues, Expenses, and Changes in Net Position - Budget and Actual Village Links/Reserve 22 - Enterprise Fund 149 Schedule of Operating Expenses - Budget and Actual Village Links/Reserve 22 - Enterprise Fund 150 Schedule of Revenues, Expenses, and Changes in Net Position - Budget and Actual Parking - Nonmajor Enterprise Fund 157 Schedule of Operating Expenses - Budget and Actual Parking - Nonmajor Enterprise Fund 158 Schedule of Revenues, Expenses, and Changes in Net Position - Budget and Actual Residential Solid Waste - Nonmajor Enterprise Fund 159 Schedule of Operating Expenses - Budget and Actual Residential Solid Waste - Nonmajor Enterprise Fund 160 Combining Statement of Net Position - Internal Service Funds 161 Combining Statement of Revenues, Expenses and Changes in Net Position Internal Service Funds 162 Combining Statement of Cash Flows - Internal Service Funds 163 Schedule of Revenues, Expenses, and Changes in Net Position - Budget and Actual Insurance - Internal Service Fund 164 Equipment Services - Internal Service Fund 165 Schedule of Operating Expenses - Budget and Actual Equipment Services - Internal Service Fund 166 Schedule of Changes in Fiduciary Net Position - Budget and Actual Police Pension - Pension Trust Fund 168 Page 35 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS TABLE OF CONTENTS PAGE FINANCIAL SECTION - Continued SUPPLEMENTAL SCHEDULES Schedule of Insurance in Force 170 Long-Term Debt Requirements General Obligation Bonds of 2015 171 General Obligation Bonds of 2018 172 General Obligation Bonds of 2020 173 General Obligation Refunding Bonds of 2021A 174 General Obligation Refunding Bonds of 2021B 175 General Obligation Bonds of 2024 176 STATISTICAL SECTION (Unaudited) Net Position by Component - Last Ten Fiscal Years 179 Changes in Net Position - Last Ten Fiscal Years 181 Fund Balances of Governmental Funds - Last Ten Fiscal Years 183 Changes in Fund Balances for Governmental Funds - Last Ten Fiscal Years 185 Assessed Value and Actual Value of Taxable Property - Last Ten Tax Levy Years 187 Direct and Overlapping Property Tax Rates - Last Ten Tax Levy Years 189 Principal Property Tax Payers - Current Fiscal Year and Nine Fiscal Years Ago 191 Property Tax Levies and Collections - Last Ten Fiscal Years 192 Ratios of Outstanding Debt by Type - Last Ten Fiscal Years 193 Ratio of General Obligation Bonded Debt Outstanding - Last Ten Fiscal Years 195 Schedule of Direct and Overlapping Governmental Activities Debt 196 Schedule of Legal Debt Margin 197 Demographic and Economic Statistics - Last Ten Fiscal Years 198 Principal Employers - Current Fiscal Year and Nine Fiscal Years Ago 199 Full-Time Equivalent Village Government Employees by Function - Last Ten Fiscal Years 201 Operating Indicators by Function/Program - Last Ten Fiscal Years 203 Capital Asset Statistics by Function/Program - Last Ten Fiscal Years 205 Page 36 of 268  INTRODUCTORY SECTION This section includes miscellaneous data regarding the Village of Glen Ellyn including: • Letter of Transmittal • List of Principal Officials • Organizational Chart • GFOA Certificate of Achievement for Excellence in Financial Reporting. Page 37 of 268 July 15, 2025 Honorable President Members of the Village Board Citizens of the Village of Glen Ellyn State law requires that every general-purpose local government publish within six months of the close of each fiscal year a complete set of audited financial statements (65 ILCS 5/8-8-3). This Annual Comprehensive Financial Report of the Village of Glen Ellyn (Village) is published to fulfill that requirement for the fiscal year ended December 31, 2024. Management of the Village assumes full responsibility for the completeness and reliability of the information contained in this report, based upon a comprehensive framework of internal control that it has established for this purpose. Because the cost of internal control should not exceed anticipated benefits, the objective is to provide reasonable, rather than absolute, assurance that the financial statements are free of any material misstatements. Lauterbach & Amen, LLP, the Village’s independent auditors, have issued an unmodified opinion on the Village of Glen Ellyn’s financial statements for the fiscal year ended December 31, 2024. Management’s discussion and analysis (MD&A) immediately follows the independent auditor’s report and provides a narrative introduction, overview, and analysis of the basic financial statements. The MD&A complements this letter of transmittal and should be read in conjunction. Profile of the Village of Glen Ellyn Located approximately 25 miles west of Chicago in DuPage County, the Village of Glen Ellyn encompasses a 7.2 square mile area and is home to 28,846 residents based on the 2020 Census. The Village was incorporated on July 5, 1892 and as of June 9, 1994, operates as a home-rule unit of government. The Village is primarily residential and commercial in nature, with housing stock consisting of approximately 7,200 detached single-family homes and 4,100 multi-family dwelling units. The Village operates under a trustee form of government as defined by Illinois Compiled Statutes. The Village President, Village Clerk, and six Village Trustees are elected at large to serve four-year terms, with three trustees elected every second year. The Village Manager is appointed by the Village President, with the advice and consent of the Village Board. Department directors are hired by the Village Manager with the consent of the Village Board. The Village Manager is the chief administrative officer of the Village and is responsible for day-to-day operations. The Village Manager oversees a team of seven department directors including Finance, Human Resources, Police, Village Links golf course and Reserve 22 restaurant, Public Works, Legal, and Community Development. The financial reporting entity (the Village) includes all the funds of the primary government (i.e., the Village of Glen Ellyn). The Village provides a wide range of services including police protection; water and sanitary sewer services; the construction and maintenance of highways, streets and other public infrastructure; community development; refuse removal; commuter parking facilities and a number of cultural and recreational activities. The accounts of the Village are organized on the basis of funds, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that make up its assets, deferred outflows of resources, liabilities, deferred inflows of resources, fund equity, revenues and 1 Page 38 of 268 expenditures. Resources are allocated to and accounted for in individual funds based on the purposes for which they are to be spent and the means by which spending activities are controlled. The Village’s accounting records are generally maintained on the modified accrual basis of accounting. Revenues are recognized when measurable and available to liquidate obligations of the current period and expenditures are recorded when a liability is incurred that is expected to draw upon current financial resources. The modified accrual accounting records are the basis for determining budgetary compliance. After the end of the fiscal year, various adjustments are made to the accounting records which enable the Village to prepare the government-wide and proprietary fund financial statements on the accrual basis of accounting. Under the accrual basis of accounting, revenues are recognized when earned and expenses are recognized when incurred. The Village provides a wide framework of internal controls covering many aspects of financial and resource management and reporting. As a recipient of federal and state financial assistance, we are responsible to ensure and document compliance with applicable laws and regulations related to these programs. These internal controls are subject to periodic evaluation by management. In addition, the Village maintains extensive budgetary controls. The objective of these controls is to ensure compliance with legal provisions embodied in the annual budget approved by the Village Board. Activities of the general fund, special revenue funds, debt service fund, capital projects funds, enterprise funds, internal service funds and pension trust fund are included in the annual budget. The level of budgetary control (i.e., the level at which expenditures cannot legally exceed the appropriated amount) is established at the fund level. The Village also maintains an encumbrance accounting system as one method of maintaining budgetary control. Encumbered amounts lapse at year-end. However, outstanding encumbrances generally are re-appropriated as part of the following year's budget. As demonstrated by the statements and schedules included in this report, the Village continues to meet its responsibility for sound financial management. In May 2024, Standard & Poor’s assigned a “AAA” rating to the Village’s 2024 general obligation bonds and affirmed its “AAA” rating on the Village’s outstanding general obligation bonds. Factors Affecting the Village’s Economic Condition Economic Outlook. The Village has a strong property tax base which is founded primarily in its residential housing stock. Total assessed value increased by 9.2% in tax year 2024 compared to tax year 2023. Glen Ellyn enjoys a stable and diversified commercial and retail sales base with shopping centers along the Roosevelt Road corridor, in the downtown Central Business District and at Historic Stacy’s Corners. In FY2012, the Village created the Central Business District (CBD) Tax Increment Financing (TIF) District in order to further promote maintaining and building upon the vitality of the downtown. In FY2014, the Village created the Roosevelt Road Tax Increment Financing (TIF) District in the Roosevelt Road corridor. The Village’s strategic goals cite the importance of proactive economic development to attract and retain key businesses in the Village. An update to the Village’s Financial Scorecard was completed in fiscal year 2020 which compared the Village to neighboring peer communities. The Scorecard indicates that Glen Ellyn is in a strong financial position with less debt and lower unfunded pension obligations than most of its peers. Economic revitalization and new development continue to be cited as potential areas to strengthen, which would boost sales tax revenues and generate non-residential property taxes. The Village carefully monitored the impact of the COVID-19 pandemic on Village finances. The Village’s commercial concentrations are mostly founded in groceries and food. These commercial sources fare well in an economic downturn and COVID-19 was no exception. The Village also received Coronavirus Aid, Relief, and Economic Security (CARES) Act funding of $1.4 million in 2020 and American Rescue Plan Act (ARPA) funding of $1.89 million in 2021 and an additional $1.89 million in 2022. The Village emerged from the COVID-19 pandemic with strong financial reserves and a very healthy financial outlook. 2 Page 39 of 268 The Village also continues to focus on responsibly funding its pension liabilities. Both pension funds improved or maintained their funded status in 2024, with the IMRF pension in particular being exceptionally well funded. The IMRF pension finished 2024 with a funded ratio of greater than 99% for the second consecutive year, while the police pension increased its funded ratio by approximately 2.4%. Investment in Public Infrastructure. The Village continues its strong focus on maintaining and improving its infrastructure assets which contribute toward the quality of life in Glen Ellyn. The Village began construction of Phase 1 of the Central Business District Streetscape project during spring 2022. This phase of the project was placed into service in 2023. The CBD projects will continue through 2025, resulting in a nearly complete replacement of streets and sidewalks in the Village’s downtown along with repair and replacement of the water and sewer mains. The Village Board approved a $16.3 million contract in March 2023 for Phases 2 and 3 of the streetscape project, with these combined phases of the project placed into service in 2024. The Village also continues to fund its annual program to maintain and replace streets across the Village. Long-Term Financial Planning. The Village engages in multi-year capital and operations planning activities which extend beyond the annual budgetary period. In conjunction with the budget for the fiscal year which began January 1, 2024, long term capital investment programs have been prepared which identify planned projects and funding sources spanning at least a five-year period for the following activities and functions: • Street resurfacing, reconstruction and repair/maintenance. • Storm sewer construction. • Sidewalk replacements. • Water and sanitary sewer system repairs, replacements and improvements. • Village-owned buildings/facilities and fleet vehicles/heavy machinery. • Central business district commuter and retail parking lot repairs and maintenance. The Village engages in these planning activities to better prepare itself to make the investment in capital facilities as replacements/improvements are needed as opposed to delaying capital investment until proper funding can be obtained. The Village also periodically performs a five-year forecast to guide the budgeting process for the forthcoming fiscal year. The goal of this forecast is to understand the long-term trends in the Village’s revenues and expenditures, identify any potential imbalances where future revenues may not meet future expenditures, and to guide the Village in developing and implementing programs or initiatives to meet any future financial challenges. Relevant Financial Policies The Village has adopted and adheres to the following financial policies in order to ensure it is a good steward of public funds: • The Village has an investment policy which governs how the Village holds and invests its funds. The investment policy strives to minimize market risk while maintaining a competitive yield on its portfolio. Cash balances during the fiscal year were invested in the Illinois Funds, Illinois Metropolitan Investment Fund, the Illinois Trust through PFM, and in an investment portfolio with PMA Financial Network, Inc., which meets the requirements of the investment policy. Additionally, the Village has collateral agreements with its financial institutions to provide collateral above the FDIC limits. All collateral on Village deposits was held by a third-party financial institution in the Village's name. • A cash reserve policy ensures that the Village has adequate funds on hand which, if necessary, could be used to weather short-term revenue deficiencies. Future spending plans are developed to maintain sufficient cash reserves and ensure that service levels to the Glen Ellyn community are in alignment with available resources. 3 Page 40 of 268  • All purchases made by the Village must adhere to its purchasing policy. This policy ensures that purchased goods and services are properly authorized as well as to ensure that the best price is received. • A budget policy provides guidelines for developing the annual budget to ensure thoughtful financial management and a budget document that complies with the standards of the Government Finance Officers Association (GFOA). • A revenue policy ensures the Village’s revenue streams are diversified and that certain revenue streams are dedicated to fund specific services or programs. • A debt policy outlines guidelines for issuing debt as well as managing post-issuance repayment and compliance. • The Village also has an accounting, auditing and financial reporting policy which promotes sound financial recordkeeping and reporting. This policy also requires that the Village’s Annual Comprehensive Financial Report is audited by a reputable firm. • The Village has established a Finance Commission and a Capital Improvements Commission to assist with promoting long-term financial planning. The Finance Commission provides recommendations on financial policies and strategy including the Financial Scorecard and Five-Year Forecast. The Capital Improvements Commission focuses on infrastructure planning including reviewing updates to the Village’s Capital Improvement Program. Major Initiatives A key initiative of the Village’s current Strategic Plan is to maintain the financial stability of the Village. This includes reviewing current and potential revenue sources as well as cost control measures to ensure the Village is providing services in a fiscally responsible manner. The Village also believes in the importance of ongoing financial monitoring including annual audits, five-year forecasts, capital plans, and periodic updates of the Financial Scorecard. The Village has always been mindful to provide its services at a reasonable cost to the average taxpayer. To help taxpayers, the Village has historically voluntarily limited the increase in the property tax levy only by the Consumer Price Index (CPI) plus new growth, consistent with tax cap laws for non-home rule agencies. In December 2014, the Village Board also passed a tax levy that did not increase one dollar over the prior year. For the 2015 and 2016 tax levies, the Board only increased the levy for the prior year’s new growth and for annexed growth. The Village Board did not increase the 2015 or 2016 levies for the increase in CPI. In 2017, the Board increased the capital levy by CPI but did not increase the operating levy by CPI. The Village cited the need to maintain our street program at the level promised to the community as well at meet other infrastructure needs identified in the five-year capital plan as the reason to increase the CPI for the capital levy. In 2019, the Board increased both the operating and capital levies by CPI and new growth, citing infrastructure and operating needs. In 2020, the Board increased the levies again by CPI and new growth but abated the levy with surplus above the reserve policy to reduce the property tax increase and provide relief to property tax owners due to the pandemic. In 2021, the Board again increased both the operating and capital levies by CPI and new growth. In 2022, the Board increased the operating levy and the capital levy by 4.9%, and then later abated a portion of the operating levy so the total increase was reduced to 2.8%. The Board took a similar approach in 2023 by increasing each of the levies by 5.5% and subsequently abating the operating levy to a 0.1% increase and the capital levy to a 4.0% increase, for a total increase after abatement of 2.1%. In 2018, The Village Board approved a new food and beverage tax of 1.5% to help fund capital projects including a downtown parking garage, streetscape, and train station improvements, Roosevelt Road access improvements, and Civic Center improvements. The Civic Center improvements were completed in 2020 and the parking garage opened in spring 2021. The first phase of the streetscape project began in spring 2022 and is expected to continue through 2025. 4 Page 41 of 268 The Village has spurred efforts to increase economic development in Glen Ellyn. The Village also cites economic development as a key initiative in its strategic plan. The Village has two tax increment financing (TIF) districts. The Central Business District (CBD) TIF was created in 2012 for the purpose of revitalizing the downtown. In FY 2014, the Village created another TIF district in the Roosevelt Road corridor for the purpose of revitalizing certain properties within that commercial district. Two multi-family developments were recently completed in the Central Business District TIF, with another currently under construction. In 2022, the Village completed the purchase of a hotel property in the Roosevelt Road TIF for the purpose of redevelopment. A portion of this property was sold in 2024, with the remainder expected to be sold in 2025. The Village also purchased a vacant bank property in the Central Business District TIF in 2022 for the purpose of cooperatively developing park and event space with the Glen Ellyn Park District. The Village of Glen Ellyn has an independent volunteer Fire Company which has provided fire protection for the community for over 100 years. In 2014, the Village approved a new fire service fee to assist in supporting the costs associated with managing the Glen Ellyn Volunteer Fire Company (GEVFC), which was effective on the May 1, 2014 Village Services Bill. Effective in 2017, a capital fire services fee was also implemented to address vehicle and facility needs of the GEVFC. In addition, beginning in June 2014, the Village contracted out EMS services to a new vendor under a turnkey approach that will provide more stable costs associated with providing EMS services to the community. That contract was extended in 2018 and amended in 2021 to enhance quality of service. Ever mindful of our customer service focus, the Village is continuing efforts to improve processes and interactions with residents. The Village is also providing more online services to residents, including online account access and bill pay for Village water, sewer, and refuse services, which was made available in August 2013. In 2015, the Village began providing online services for customers to pay business licenses and parking permits and in 2018, the Village began providing online renewal for vehicle stickers. Subsequent to year end, in April 2025, the Village implemented new software for the Community Development department to provide enhanced and more efficient service to customers. Awards and Acknowledgments The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the Village of Glen Ellyn for its annual comprehensive financial report for the fiscal year ended December 31, 2023. This was the 37th consecutive year that the Village has achieved this prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized annual comprehensive financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe that our current annual comprehensive financial report continues to meet the Certificate of Achievement Program's requirements and we are submitting it to the GFOA to determine its eligibility for another certificate. 5 Page 42 of 268 In addition, the Village was awarded the GFOA’s Distinguished Budget Presentation Award for its 2024 budget, the 16th consecutive year for which the Village received this award. In order to receive the Distinguished Budget Presentation Award, a government unit must publish a budget document that meets program criteria as a policy document, as an operations guide, as a financial plan, and as a communications device. The preparation of this report could not have been accomplished without the efficient and dedicated services of the entire Finance Department team. The Village’s management team is to be commended for operating the Village in a sound and sustainable manner. The Village’s Finance Commission also should be applauded for their regular oversight of the Village’s financial policies, initiatives, and performance. Finally, we would like to express our appreciation to the Village President and Board of Trustees for their leadership and support in planning and conducting the financial operations of the Village in a responsible and progressive manner. Respectfully submitted, 6 Page 43 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS List of Principal Officials December 31, 2024 LEGISLATIVE Donna Jean Simon, Acting Village President VILLAGE BOARD OF TRUSTEES Kelli Christiansen, Trustee Kelley Kalinich, Trustee Gary Fasules, Trustee Donna Jean Simon, Trustee Anne Gould, Trustee Steve Thompson, Trustee VILLAGE CLERK Caren Cosby ADMINISTRATIVE Mark Franz, Village Manager Patrick Brankin, Finance Director Michele Chaparro, Assistant Finance Director 7 Page 44 of 268 8 Page 45 of 268 9 Page 46 of 268  FINANCIAL SECTION This section includes: Independent Auditor's Report Management’s Discussion and Analysis Basic Financial Statements Required Supplementary Information Other Supplementary Information Supplemental Schedules 10 Page 47 of 268  INDEPENDENT AUDITOR'S REPORT This section includes the opinion of the Village’s independent auditing firm. 11 Page 48 of 268  INDEPENDENT AUDITOR'S REPORT July 15, 2025 The Honorable Village President Members of the Board of Trustees Village of Glen Ellyn, Illinois Opinions We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the Village of Glen Ellyn (the Village), Illinois, as of and for the year ended December 31, 2024, and the related notes to the financial statements, which collectively comprise the Village’s basic financial statements as listed in the table of contents. In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the Village of Glen Ellyn, Illinois, as of December 31, 2024, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinions We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Village, and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Village’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter. 12 Page 49 of 268 Village of Glen Ellyn, Illinois July 15, 2025 Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with generally accepted auditing standards, we: • Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Village’s internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. • Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Village’s ability to continue as a going concern for a reasonable period of time. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit. Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis, the budgetary comparison schedules, and supplementary pension and other post- employment benefit (OPEB) schedules, as listed in the table of contents, be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. 13 Page 50 of 268 Village of Glen Ellyn, Illinois July 15, 2025 Supplementary Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Village of Glen Ellyn, Illinois’ basic financial statements. The other supplementary information and supplemental schedules are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the other supplementary information and supplemental schedules are fairly stated, in all material respects, in relation to the basic financial statements as a whole. Other Information Management is responsible for the other information included in the annual report. The other information comprises the introductory and statistical sections but does not include the basic financial statements and our auditor’s report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report. LAUTERBACH & AMEN, LLP 14 Page 51 of 268 MANAGEMENT'S DISCUSSION AND ANALYSIS 15 Page 52 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Management's Discussion and Analysis December 31, 2024 Our discussion and analysis of the Village of Glen Ellyn’s financial performance provides an overview of the Village’s financial activities for the fiscal year ended December 31, 2024. Please read it in conjunction with the transmittal letter and the Village’s financial statements. FINANCIAL HIGHLIGHTS • The Village’s net position increased by 2.3% as a result of this fiscal year’s operations. Net position of governmental activities increased by $4,084,793 or 3.0% and net position of business-type activities increased by $1,811,798 or 1.4%. • During this fiscal year, revenues were greater than expenses, prior to transfers in of $325,000, by $3,759,793 for governmental activities. The Village continued to benefit from growth in revenues including charges for services, property taxes, home rule sales tax, shared sales and use tax, and state income tax. • During the fiscal year, revenues for business-type activities were $28,432,008, while expenses were $26,295,210, generating an increase in net position of $2,136,798 before transfers out of $325,000. • The General Fund fund balance decreased by $1,497,439 in 2024 primarily due to transfers out to support capital project needs in other funds. • Total expenditures in the General Fund were below budget by $2,037,510. The primary driver of this variance was general government expenses, which was below budget by $1,219,135, largely due to vacancies within the Community Development and Facilities Maintenance departments. • The Village continued construction on the Central Business District streetscape project during the fiscal year, which began in 2022 and includes the reconstruction of the downtown streets and related underground utility improvements. Phase I of the project was placed into service in 2023, while the combined Phases II and III were placed in service during 2024. • Water and sewer rates increased in 2024, contributing to an increase in net position for the Water and Sanitary Sewer Fund of $452,193. The Village funds its Water and Sanitary Sewer capital program on a pay-as-you-go basis. The positive change in net position will fund future capital projects outlined in the Village's long-term capital improvement plan. • Total operating revenues for the Village Links golf course and Reserve 22 restaurant increased from $8,069,657 in 2023 to $8,199,282 in 2024. Meanwhile, operating income for the fund decreased from 1.1 million in 2023 to 92,023 in 2024, and the total increase in net position in 2024 was $76,019 in 2024 compared to $1,138,589 in 2023. • As of December 31, 2024, all funds subject to minimum cash reserve policies exceeded their policy level. • Due to improved market performance in 2024 compared to 2023, the Police Pension Fund’s plan fiduciary net position increased as a percentage of the total pension liability from 58.88% in FY2023 to 61.27% in FY2024. The Village contributed $2,152,200 to the Police Pension Fund in FY2024 and $2,082,300 in FY2023, an amount which exceeded the actuarially determined contribution in both years. • The Illinois Municipal Retirement Fund (IMRF) experienced a decrease in its fiduciary net position as a percentage of the total pension liability from 99.26% in FY2023 to 99.19% in FY2024. The Village contributed $453,962 to IMRF in FY2024, compared to $376,955 in FY2023. 16 Page 53 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Management's Discussion and Analysis December 31, 2024 USING THIS ANNUAL REPORT This annual report consists of a series of financial statements. The Statement of Net Position and the Statement of Activities provide information about the activities of the Village of Glen Ellyn as a whole and present a longer- term view of the Village’s finances. For governmental activities, these statements tell how these services were financed in the short term as well as what remains for future spending. Fund financial statements also report the Village’s operation in more detail than the government-wide statements by providing information about the Village’s most significant funds. The remaining statements provide financial information about activities for which the Village acts solely as a trustee or agent for the benefit of those outside of the government. Government-Wide Financial Statements The government-wide financial statements provide readers with a broad overview of the Village’s finances, in a matter similar to a private-sector business. The Statement of Net Position reports information on all of the Village’s assets/deferred outflows and liabilities/ deferred inflows, with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the Village is improving or deteriorating. Consideration of other nonfinancial factors, such as changes in the Village’s property tax base and the condition of the Village’s roads, is needed to assess the overall health of the Village. The Statement of Activities presents information showing how the government’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g., uncollected taxes and earned but unused vacation leave). Both of the government-wide financial statements distinguish functions of the Village that are principally supported by taxes and intergovernmental revenues (governmental activities) or from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The governmental activities of the Village include general government, public safety, highways and streets, and interest on long-term debt. The business-type activities of the Village include water and sanitary sewer, golf course, restaurant and recreation, parking, and residential solid waste. Fund Financial Statements A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The Village, like other local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the Village can be divided into three categories: governmental funds, proprietary funds, and fiduciary funds. Governmental Funds Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating the Village’s near-term financing requirements. 17 Page 54 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Management's Discussion and Analysis December 31, 2024 USING THIS ANNUAL REPORT - Continued Fund Financial Statements - Continued Governmental Funds - Continued Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the Village’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate the comparison between governmental funds and governmental activities. The Village maintains ten individual governmental funds. Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balances for the General Fund, the Central Business District TIF, the Debt Service Fund, the Capital Projects Fund, and the Facilities Maintenance Reserve Fund, all of which are considered major funds. Data from the other five governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these non-major governmental funds is provided in the form of combining statements elsewhere in this report. The Village adopts an annual budget for all funds. A budgetary comparison schedule for all other funds has been provided to demonstrate compliance with the budget. Proprietary Funds The Village maintains two different types of proprietary funds: enterprise and internal service. Enterprise funds are used to report the same functions presented as business-type activities in the government-wide financial statements. The Village utilizes enterprise funds to account for its water and sanitary sewer, Village Links Golf Course and Reserve 22 restaurant, parking, and residential solid waste operations. Internal service funds are an accounting device used to accumulate and allocate costs internally among the Village’s various functions. The Village uses an internal service fund to account for its insurance and equipment service programs. Because this service predominantly benefits governmental rather than business-type functions, it has been included within governmental activities in the government-wide financial statements. Proprietary fund financial statements provide the same type of information as the government-wide financial statements, only in more detail. The proprietary fund financial statements provide separate information for the Water and Sanitary Sewer Fund, the Village Links/Reserve 22 Fund, and the Park Fund, all of which are considered to be major funds of the Village. The Residential Solid Waste Fund is reported as a non-major fund. Fiduciary Funds Fiduciary funds are used to account for resources held for the benefit of parties outside the government. Fiduciary funds are not reflected in the government-wide financial statements because the resources of those funds are not available to support the Village’s own programs. The accounting use for fiduciary funds is much like that used for proprietary funds. Notes to the Financial Statements The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. 18 Page 55 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Management's Discussion and Analysis December 31, 2024 USING THIS ANNUAL REPORT - Continued Other Information In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information concerning the Village’s IMRF and police pension obligations, the Village’s other post-employment benefit obligation, as well as the budgetary comparison schedule for the General Fund. The combining statements referred to earlier in connection with non-major governmental funds are presented immediately following the required supplementary information on pensions. GOVERNMENT-WIDE FINANCIAL ANALYSIS Net position may serve over time as a useful indicator of a government’s financial position. The following tables show that in the case of the Village, assets/deferred outflows exceeded liabilities/deferred inflows by $267,826,614. Net Position Governmental Business-Type Activities Activities Totals 12/31/24 12/31/23 12/31/24 12/31/23 12/31/24 12/31/23 Current and Other Assets $ 65,191,416 70,786,602 45,988,420 44,204,947 111,179,836 114,991,549 Capital Assets 140,223,034 130,073,120 94,347,131 87,486,219 234,570,165 217,559,339 Total Assets 205,414,450 200,859,722 140,335,551 131,691,166 345,750,001 332,550,888 Deferred Outflows 5,770,748 9,172,024 1,068,385 1,639,028 6,839,133 10,811,052 Total Assets/ Deferred Outflows 211,185,198 210,031,746 141,403,936 133,330,194 352,589,134 343,361,940 Long-Term Debt 54,308,251 56,624,294 10,021,040 3,969,977 64,329,291 60,594,271 Other Liabilities 3,631,711 5,136,287 2,066,163 1,916,659 5,697,874 7,052,946 Total Liabilities 57,939,962 61,760,581 12,087,203 5,886,636 70,027,165 67,647,217 Deferred Inflows 14,518,125 13,628,847 217,230 155,853 14,735,355 13,784,700 Total Liabilities/ Deferred Inflows 72,458,087 75,389,428 12,304,433 6,042,489 84,762,520 81,431,917 Net Position Net Investment in Capital Assets 115,137,951 103,276,419 91,595,045 84,758,371 206,732,996 188,034,790 Restricted 17,958,808 13,419,233 1,380,257 3,221,480 19,339,065 16,640,713 Unrestricted 5,630,352 17,946,666 36,124,201 39,307,854 41,754,553 57,254,520 Total Net Position 138,727,111 134,642,318 129,099,503 127,287,705 267,826,614 261,930,023 By far the largest portion of the Village’s net position, which is 77.2% reflects its investment in capital assets (for example, land, buildings, infrastructure, machinery, and equipment), less any related debt used to acquire those assets that is still outstanding. The Village uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Although the Village’s investment in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. 19 Page 56 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Management's Discussion and Analysis December 31, 2024 GOVERNMENT-WIDE FINANCIAL ANALYSIS - Continued An additional portion, or 7.2%, of the Village’s net position represents resources that are subject to external restrictions on how they may be used. The remaining 15.6%, or $41,754,553, represents unrestricted net position and may be used to meet the Village’s ongoing obligations to citizens and creditors. Changes in Net Position Governmental Business-Type Activities Activities Totals 12/31/24 12/31/23 12/31/24 12/31/23 12/31/24 12/31/23 Revenues Program Revenues Charges for Services $ 6,316,500 6,025,305 26,910,606 24,705,156 33,227,106 30,730,461 Operating Grants/Contributions 333,206 487,476 — — 333,206 487,476 General Revenues Property Taxes 11,071,411 10,119,585 — 70,419 11,071,411 10,190,004 Home Rule Sales 4,116,784 3,962,891 — — 4,116,784 3,962,891 Utility 1,572,507 1,538,046 — — 1,572,507 1,538,046 Real Estate Transfer 642,669 667,505 — — 642,669 667,505 Other Taxes 1,983,246 1,933,639 — — 1,983,246 1,933,639 Shared Income Tax 4,898,639 4,607,266 — — 4,898,639 4,607,266 Shared Sales and Use Tax 6,341,559 6,208,145 — — 6,341,559 6,208,145 Motor Fuel Tax 1,376,883 1,304,366 — — 1,376,883 1,304,366 Investment Income 2,413,699 2,570,695 — — 2,413,699 2,570,695 Miscellaneous 323,869 182,504 1,521,402 1,440,516 1,845,271 1,623,020 Total Revenues 41,390,972 39,607,423 28,432,008 26,216,091 69,822,980 65,823,514 Expenses General Government 9,275,308 6,911,524 — — 9,275,308 6,911,524 Public Safety 16,160,252 14,219,450 — — 16,160,252 14,219,450 Highways and Streets 11,507,753 13,585,925 — — 11,507,753 13,585,925 Interest on Long-Term Debt 687,866 726,082 — — 687,866 726,082 Water and Sanitary Sewer — — 15,230,479 13,664,267 15,230,479 13,664,267 Golf Course and Recreation — — 8,195,358 6,993,348 8,195,358 6,993,348 Parking — — 893,591 864,372 893,591 864,372 Residential Solid Waste — — 1,975,782 1,939,835 1,975,782 1,939,835 Total Expenses 37,631,179 35,442,981 26,295,210 23,461,822 63,926,389 58,904,803 Change in Net Position Before Transfers 3,759,793 4,164,442 2,136,798 2,754,269 5,896,591 6,918,711 Transfers 325,000 225,000 (325,000) (225,000) — — Change in Net Position 4,084,793 4,389,442 1,811,798 2,529,269 5,896,591 6,918,711 Net Position - Beginning Balance 134,642,318 130,252,876 127,287,705 124,758,436 261,930,023 255,011,312 Net Position - Ending Balance 138,727,111 134,642,318 129,099,503 127,287,705 267,826,614 261,930,023 20 Page 57 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Management's Discussion and Analysis December 31, 2024 GOVERNMENT-WIDE FINANCIAL ANALYSIS - Continued Unrestricted net position of the Village’s governmental activities, the part of net position that can be used to finance day-to-day operations without constraints, decreased 68.6% from $17,946,666 the previous fiscal year to $5,630,352 at the end of this year. This is due primarily to the Village's continued strong investment into its capital infrastructure and reflected in the growth in net investment in capital assets from 2023 to 2024. Overall net position of the Village’s governmental activities increased by $4,084,793 ($138,727,111 compared to $134,642,318). Net position of business-type activities increased 1.4% from the prior year ($129,099,503 compared to $127,287,705). The Village generally can only use this net position to finance the continuing operations of the water and sanitary sewer, Village Links Golf Course, Reserve 22 restaurant, parking, and refuse operations. Governmental Activities Revenues for governmental activities were $41,390,972, while total expenses were $37,631,179. Strong tax collections and investment income contributed to the increase in governmental activities net position. Total governmental activities revenues increased from the prior year by 4.5%, or $1,783,549. This is attributable primarily to increased property taxes, sales, and state income tax collections. Public Safety expenses increased from $14,219,450 in 2023 to $16,160,252 in 2024. This was largely attributable to increased personnel costs within the Police Department as well as increased pension expense year over year. Highways and Streets expenses decreased from $13,585,925 in 2023 to $11,507,753 in 2024 due to decreased capital spending in 2024. General government expense increased from $6,911,524 in 2023 to $9,275,308 in 2024, primarily as a result of increased pension expense year over year. The following table graphically depicts the major revenue sources of the Village. It depicts very clearly that while the Village does have diverse revenue streams, the Village does rely on property taxes and sales taxes to fund governmental activities. 21 Page 58 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Management's Discussion and Analysis December 31, 2024 GOVERNMENT-WIDE FINANCIAL ANALYSIS - Continued Governmental Activities - Continued Revenues by Sources - Governmental Activities Investment Income, 5.8% Miscellaneous, 0.8% Charges for Services, 15.3% Motor Fuel Tax, 3.3% Real Estate Transfer, 1.6% Shared Sales and Use Tax, 15.3% Operating Grants/Contrib., 0.8% Shared Income Tax, 11.8% Property Taxes, 26.8% Other Taxes, 4.8% Utility, 3.8% Home Rule Sales, 9.9% Expenses and Program Revenues - Governmental Activities $20,000,000 $16,000,000 $12,000,000 $8,000,000 $4,000,000 $— General Government Public Safety Highways and Interest on Long- Streets Term Debt Revenues Expenses The ‘Expenses and Program Revenues’ Table identifies those governmental functions where program expenses greatly exceed revenues. Public safety and public works expenses far exceed any directly allocated revenues. 22 Page 59 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Management's Discussion and Analysis December 31, 2024 GOVERNMENT-WIDE FINANCIAL ANALYSIS - Continued Business-Type Activities Revenues increased by 8.5% or $2,215,917 in 2024, primarily related to an increase in water and sanitary sewer rates, continued strong performance in Village Links and Reserve 22 operating revenues, and a capital contribution recorded in the Parking Fund related to the acquisition of a portion of a parking garage. Overall expenses were increased by $2,833,388 or 12.1%. The Water and Sanitary Sewer Fund was the primary driver of this increase, as related operating expenses were $1,164,866 higher in 2024 than in 2023, respectively. The graph below depicts program revenues as compared to program expenses for enterprise operations. Expenses and Program Revenues - Business-Type Activities $20,000,000 $15,000,000 $10,000,000 $5,000,000 $— Water and Sanitary Village Links/ Parking Residential Solid Sewer Reserve 22 Waste Revenues Expenses FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS As noted earlier, the Village uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. Governmental Funds The focus of the Village’s governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. In particular, unassigned fund balance may serve as a useful measure of a government’s net resources available for spending at the end of the fiscal year. As of the end of the current fiscal year, the governmental funds reported combined ending fund balances of $41,174,509, which is 8.8% lower than last year’s total of $45,125,220. The General Fund balance decreased by $1,497,439 in 2024. This is due primarily to a transfer out of general fund reserves for capital projects as well as a decrease in building permit revenue, which were partially offset by continued strong performances in state income tax and sales tax. The Central Business District TIF balance increased by $1,202,718 in 2024. This is due to increased tax increment collections related to higher assessed values of recently completed development projects. 23 Page 60 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Management's Discussion and Analysis December 31, 2024 FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS - Continued Governmental Funds - Continued The Debt Service Fund reported a decrease in fund balance of $262. In 2015, the Village issued general obligation bonds for construction of a police station and stormwater improvements. At the end of 2019, the Village issued $9.9 million in general obligation bonds. These bonds will be repaid with a food and beverage tax rather than a tax levy. The food and beverage tax became effective in 2019. The Village issued another set of general obligation bonds in 2020 of $4.75 million to fund capital projects. In 2021, the Village issued two series of General Obligation bonds, totaling approximately $6.5 million, which partially refunded two past debt issuances. The Village committed to issue these bonds without a property tax increase. Therefore, rather than levy a debt service property tax in the Debt Service Fund to make principal and interest payments, the Village records annual transfers into the Debt Service Fund from the Capital Projects Fund. In FY2024, the amount of this transfer was $2,235,278. The Capital Projects Fund is used to account for capital projects within the Village, other than proprietary fund projects. The Fund reported a decrease in fund balance of $7,737,998. This decrease is due to planned capital projects. The largest such project was the 2024 Utility and Roadway Improvement, on which more than $6.7 million was expended from the Capital Projects Fund during 2024. The Facilities Maintenance Reserve Fund is used to account for the cost of maintaining various Village owned facilities. The Fund reported an increase in fund balance of $453,505. This is due to the deferral of various projects into future years. Proprietary Funds The Village’s proprietary funds provide the same type of information found in the government-wide financial statements, but in more detail. The Village reports the Water and Sanitary Sewer, the Village Links/Reserve 22, and the Parking Funds as major proprietary funds. The Water and Sanitary Sewer Fund accounts for all of the operations of the municipal water and sanitary sewer system. The Village has entered into a joint venture with the Village of Lombard to create the Glenbard Wastewater Authority, which provides wastewater treatment for both Villages. Both Villages contribute to the Authority to fund its operations. During the fiscal year, the Water and Sanitary Sewer Fund net position increased by $452,193. Water and sewer rates increased in 2024 which helped contribute to the increase in net position. Other contribution factors were continued strong investment income and timing of capital projects. The Village Links/Reserve 22 fund experienced an increase in net position of $76,019. In 2024 the Reserve 22 restaurant revenues saw a decrease of $194,818 over the prior year. Reserve 22 operating expenses also decreased by $13,045 in 2024 compared to 2023. The Parking Fund increased $1,178,719 due to a capital contribution recorded in the Parking Fund related to the acquisition of a portion of a parking garage. 24 Page 61 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Management's Discussion and Analysis December 31, 2024 GENERAL FUND BUDGETARY HIGHLIGHTS At the beginning of each fiscal year, the Village Board passes an amendment to roll forward appropriate outstanding purchase contracts that were in existence at the prior year end. This amendment increased the original budget by $87,382. A second amendment affecting the General Fund was passed later in the year which amended the General Fund budget to reflect the transfer out of General Fund reserves to support the Village’s capital improvement program. This amendment increased the original General Fund budget by $4.0 million. General Fund revenues were over budget by $555,784. As stated previously, this was largely due to stronger than expected collections in various tax and intergovernmental shared revenues, as well as building permit revenues. Total expenditures for the General Fund were under the original budget by $1,950,128 and under the revised budget by $2,037,510. The main driver of this variance was Public Works Operations within Highway and Streets, which was under budget by $565,308 primarily due to a variety of maintenance-type expenditures. CAPITAL ASSETS AND DEBT ADMINISTRATION Capital Assets The Village’s investment in capital assets for its governmental and business type activities as of December 31, 2024 was $234,570,165 (net of accumulated depreciation/amortization). This investment in capital assets includes land, construction in progress, land improvements, buildings and improvements, machinery and equipment, vehicles, bridges, storm sewers, streets, water and sanitary sewer system, lease asset and subscription assets - software. Capital Assets - Net of Depreciation Governmental Business-Type Activities Activities Totals 12/31/24 12/31/23 12/31/24 12/31/2023 12/31/24 12/31/2023 Land $ 29,034,692 29,034,692 15,767,399 15,767,399 44,802,091 44,802,091 Construction in Progress 9,981,352 9,808,706 6,824,785 3,467,832 16,806,137 13,276,538 Land Improvements 138,168 150,154 2,980,529 3,189,020 3,118,697 3,339,174 Buildings and Improvements 16,324,581 16,962,444 22,846,981 21,050,475 39,171,562 38,012,919 Machinery and Equipment 1,419,859 1,512,600 1,255,357 1,158,200 2,675,216 2,670,800 Vehicles 1,409,563 1,424,349 8,157 10,874 1,417,720 1,435,223 Bridges 78,563 84,933 — — 78,563 84,933 Storm Sewers 14,085,304 14,600,640 — — 14,085,304 14,600,640 Streets 67,444,022 56,031,515 — — 67,444,022 56,031,515 Water and Sanitary Sewer System — — 44,601,774 42,677,186 44,601,774 42,677,186 Lease Assets 117,603 159,387 — 72,009 117,603 231,396 Subscription Assets - Software 189,327 303,700 62,149 93,224 251,476 396,924 Totals 140,223,034 130,073,120 94,347,131 87,486,219 234,570,165 217,559,339 25 Page 62 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Management's Discussion and Analysis December 31, 2024 CAPITAL ASSETS AND DEBT ADMINISTRATION - Continued Capital Assets - Continued The primary capital asset project undertaken in 2024 was the 2024 Utility and Roadway Improvement project. The project began in 2024 and $4.6 million and $6.5 million related to this project were recorded as construction in progress as of December 31, 2024 in governmental and business-type activities, respectively. Additionally, the combined second and third phases of the Central Business District Streetscape rehabilitation project which began in 2023 were placed into service in 2024. $13.5 million and $3.8 million related to this project was recorded as completed infrastructure as of December 31, 2024 in governmental and business-type activities, respectively. Additional information on the Village’s capital assets can be found in Note 3 of this report. Debt Administration At year-end, the Village had total outstanding long-term debt of $64,329,291 as compared to $60,594,271 the previous year. The following is a comparative statement of outstanding debt: Long-Term Debt Outstanding Governmental Business-Type Activities Activities Totals 12/31/24 12/31/23 12/31/24 12/31/23 12/31/24 12/31/23 Compensated Absences $ 961,617 839,537 326,310 274,615 1,287,927 1,114,152 Net Pension Liability - IMRF 276,449 253,897 167,363 136,299 443,812 390,196 Net Pension Liability - Police 26,219,034 26,728,987 — — 26,219,034 26,728,987 Total Pension Liability - RBP 1,632,068 1,871,172 403,052 411,299 2,035,120 2,282,471 General Obligation Bonds - Net 24,781,871 26,345,038 8,661,533 2,592,500 33,443,404 28,937,538 Asset Retirement Obligation 134,000 134,000 395,726 395,726 529,726 529,726 Leases Payable 109,055 149,974 — 64,485 109,055 214,459 Subscriptions Payable 194,157 301,689 67,056 95,053 261,213 396,742 Totals 54,308,251 56,624,294 10,021,040 3,969,977 64,329,291 60,594,271 The Village is rated AAA by Standard and Poor’s, a rating which was most recently reaffirmed during 2024 prior to the issuance of $6.27 million in general obligation bonds. The bonds were issued on behalf of Glenbard Wastewater Authority to fund wastewater improvements. Of the amount of debt outstanding as of December 31, 2024, $8.7 million will be abated and paid for by enterprise fund revenues from the Village Links/Reserve 22 fund and the Water and Sanitary Sewer funds and $24.8 million will be abated and paid for by Capital Project Fund revenues. As a home-rule unit, no legal limit exists on the amount of debt that can be outstanding. The IMRF pension liability increased while the Police Pension liability decreased from FY2023 to FY2024. Additional information on the Village’s long-term debt can be found in Note 3 of this report. 26 Page 63 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Management's Discussion and Analysis December 31, 2024 ECONOMIC FACTORS AND NEXT YEAR'S BUDGET The Village has a strong property tax base which is founded primarily in its residential housing stock. Total assessed value increased by 9.2% in tax year 2024 compared to 2023. Glen Ellyn enjoys a stable and diversified commercial and retail sales base with shopping centers along the Roosevelt Road corridor, in the downtown central business district and at Historic Stacy’s Corners. In FY2012, the Village created the Central Business District (CBD) Tax Increment Financing (TIF) District in order to further promote maintaining and building upon the vitality of the downtown. In FY2014, the Village created the Roosevelt Road Tax Increment Financing (TIF) District in the Roosevelt Road corridor. The Village’s strategic goals cite the importance of proactive economic development to attract and retain key businesses in the Village. An update to the Village’s Financial Scorecard was completed in fiscal year 2020 which compared the Village to neighboring peer communities. The Scorecard indicates that Glen Ellyn is in a strong financial position with less debt and lower unfunded pension obligations than most of its peers. Economic revitalization and new development continue to be cited as potential areas to strengthen, which would boost sales tax revenues and generate non-residential property taxes. The Village also continues to focus on responsibly funding its pension liabilities. The Police Pension's funded status increased from 58.88% in 2023 to 61.27% in 2024, while the IMRF pension remained nearly stable, decreasing from 99.26% in 2023 to 99.19% in 2024. The Village approved a four-year contract with the police officer’s union in February 2023. The contract provides for annual base salary increases of 3.25% in year one and 3.0% in the subsequent years. The Village completed construction of Phase 1 of the Central Business District Streetscape project during 2023 and then completed the combined Phases II and III in 2024. The CBD projects will continue through 2026, resulting in a nearly complete replacement of streets and sidewalks in the Village’s downtown along with repair and replacement of the water and sewer mains. In May 2023, the Village Board approved an Intergovernmental Purchase and Sale Agreement with the Glen Ellyn Park District to sell Village property to the Park District located in the Village’s Central Business District at which the Park District would construct a park and event space. A subsequent Intergovernmental Redevelopment Agreement entered into in March 2025 with the Park District requires the Village to contribute tax increment financing funds for a period of 12 years toward the construction and maintenance of the park. The Park District would be responsible for the construction of the park and all ongoing maintenance. In June 2025, the Village closed on the sale of the property to the Park District. In 2022, the Village completed the purchase of a hotel property made up of 7 parcels in the Roosevelt Road TIF for the purpose of redevelopment. 4 of these parcels were sold in 2024, with the remainder expected to be sold in 2025. REQUESTS FOR INFORMATION This financial report is designed to provide a general overview of the Village of Glen Ellyn’s finances for all those with an interest in the Village’s finances. Questions concerning any of the information provided in this report or requests for additional information should be directed to Finance Department, Village of Glen Ellyn, 535 Duane Street, Glen Ellyn, Illinois. 27 Page 64 of 268  BASIC FINANCIAL STATEMENTS The basic financial Statements include integrated sets of financial statements as required by the GASB. The sets of statements include: Government-Wide Financial Statements Fund Financial Statements Governmental Funds Proprietary Funds Fiduciary Fund In addition, the notes to the financial statements are included to provide information that is essential to a user’s understanding of the basic financial statements. 28 Page 65 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Statement of Net Position December 31, 2024 See Following Page 29 Page 66 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Statement of Net Position December 31, 2024 Primary Government Governmental Business-Type Activities Activities Totals ASSETS Current Assets Cash and Cash Equivalents $ 43,763,079 21,150,548 64,913,627 Receivables - Net of Allowances 16,907,415 8,323,621 25,231,036 Due from Other Governments 117,961 315,318 433,279 Land Held for Resale 3,110,629 — 3,110,629 Prepaids/Inventories 1,292,332 164,278 1,456,610 Total Current Assets 65,191,416 29,953,765 95,145,181 Noncurrent Assets Capital Assets Nondepreciable/Nonamortizable 39,016,044 22,592,184 61,608,228 Depreciable/Amortizable 180,636,427 131,705,114 312,341,541 Accumulated Depreciation/Amortization (79,429,437) (59,950,167) (139,379,604) Total Capital Assets 140,223,034 94,347,131 234,570,165 Other Assets Equity Interest in Joint Venture — 16,034,655 16,034,655 Total Noncurrent Assets 140,223,034 110,381,786 250,604,820 Total Assets 205,414,450 140,335,551 345,750,001 DEFERRED OUTFLOWS OF RESOURCES Deferred Items - IMRF 1,027,639 622,134 1,649,773 Deferred Items - Police Pension 4,220,352 — 4,220,352 Deferred Items - RBP 429,988 106,189 536,177 Deferred Items - ARO 92,769 318,559 411,328 Unamortized Loss on Refunding — 21,503 21,503 Total Deferred Outflows of Resources 5,770,748 1,068,385 6,839,133 Total Assets and Deferred Outflows of Resources 211,185,198 141,403,936 352,589,134 The notes to the financial statements are an integral part of this statement. 30 Page 67 of 268  Primary Government Governmental Business-Type Activities Activities Totals LIABILITIES Current Liabilities Accounts Payable $ 1,772,747 1,302,135 3,074,882 Accrued Payroll 483,493 137,308 620,801 Deposits Payables 1,092,516 187,882 1,280,398 Due to Other Governments 37,010 26,868 63,878 Other Payables 235,380 411,970 647,350 Unearned Revenue 10,565 — 10,565 Current Portion of Long-Term Debt 2,566,401 768,285 3,334,686 Total Current Liabilities 6,198,112 2,834,448 9,032,560 Noncurrent Liabilities Compensated Absences Payable 248,272 79,966 328,238 Net Pension Liability - IMRF 276,449 167,363 443,812 Net Pension Liability - Police Pension 26,219,034 — 26,219,034 Total OPEB Liability - RBP 1,549,266 382,610 1,931,876 Asset Retirement Obligation 134,000 395,726 529,726 General Obligation Bonds Payable - Net 23,168,706 8,192,108 31,360,814 Leases Payable 66,500 — 66,500 Subscriptions Payable 79,623 34,982 114,605 Total Noncurrent Liabilities 51,741,850 9,252,755 60,994,605 Total Liabilities 57,939,962 12,087,203 70,027,165 DEFERRED INFLOWS OF RESOURCES Grants 616,305 — 616,305 Property Taxes 11,576,629 — 11,576,629 Leases 733,295 — 733,295 Deferred Items - IMRF 11,772 7,127 18,899 Deferred Items - Police 729,359 — 729,359 Deferred Items - RBP 850,765 210,103 1,060,868 Total Deferred Inflows of Resources 14,518,125 217,230 14,735,355 Total Liabilities and Deferred Inflows of Resources 72,458,087 12,304,433 84,762,520 NET POSITION Net Investment in Capital Assets 115,137,951 91,595,045 206,732,996 Restricted - Public Safety 8,677,778 — 8,677,778 Restricted - Highways and Streets 4,913,950 — 4,913,950 Restricted - Debt Service 36,320 — 36,320 Restricted - Economic Development 4,152,283 — 4,152,283 Restricted - Purchase Contracts 178,477 1,380,257 1,558,734 Unrestricted 5,630,352 36,124,201 41,754,553 Total Net Position 138,727,111 129,099,503 267,826,614 The notes to the financial statements are an integral part of this statement. 31 Page 68 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Statement of Activities For the Fiscal Year Ended December 31, 2024 Program Revenues Charges Operating Capital for Grants/ Grants/ Expenses Services Contributions Contributions Governmental Activities General Government $ 9,275,308 2,858,121 231,613 — Public Safety 16,160,252 3,428,351 101,593 — Highways and Streets 11,507,753 30,028 — — Interest on Long-Term Debt 687,866 — — — Total Governmental Activities 37,631,179 6,316,500 333,206 — Business-Type Activities Water and Sanitary Sewer 15,230,479 14,621,974 — — Village Links/Reserve 22 8,195,358 8,199,282 — — Parking 893,591 2,045,955 — — Residential Solid Waste 1,975,782 2,043,395 — — Total Business-Type Activities 26,295,210 26,910,606 — — Total Primary Government 63,926,389 33,227,106 333,206 — General Revenues Taxes Property Taxes Home Rule Sales Utility Real Estate Transfer Food & Beverage Hotel & Motel Auto Rental Other Taxes Intergovernmental - Unrestricted Shared Income Tax Shared Sales and Use Tax Motor Fuel Tax Investment Income Miscellaneous Transfers - Internal Balances Change in Net Position Net Position - Beginning Net Position - Ending The notes to the financial statements are an integral part of this statement. 32 Page 69 of 268  Primary Government Governmental Business-Type Activities Activities Totals (6,185,574) — (6,185,574) (12,630,308) — (12,630,308) (11,477,725) — (11,477,725) (687,866) — (687,866) (30,981,473) — (30,981,473) — (608,505) (608,505) — 3,924 3,924 — 1,152,364 1,152,364 — 67,613 67,613 — 615,396 615,396 (30,981,473) 615,396 (30,366,077) 11,071,411 — 11,071,411 4,116,784 — 4,116,784 1,572,507 — 1,572,507 642,669 — 642,669 1,800,927 — 1,800,927 140,627 — 140,627 32,892 — 32,892 8,800 — 8,800 4,898,639 — 4,898,639 6,341,559 — 6,341,559 1,376,883 — 1,376,883 2,413,699 — 2,413,699 323,869 1,521,402 1,845,271 325,000 (325,000) — 35,066,266 1,196,402 36,262,668 4,084,793 1,811,798 5,896,591 134,642,318 127,287,705 261,930,023 138,727,111 129,099,503 267,826,614 The notes to the financial statements are an integral part of this statement. 33 Page 70 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Balance Sheet - Governmental Funds December 31, 2024 Special Revenue Central Business General District TIF ASSETS Cash and Investments $ 12,739,641 1,921,968 Receivables - Net of Allowances Taxes 12,007,035 1,727,015 Accounts 58,100 — Other 152,613 Leases 1,076,318 — Due from Other Governments 9,642 — Land Held for Resale — 1,652,599 Prepaids 186,215 — Total Assets 26,229,564 5,301,582 LIABILITIES Accounts Payable 529,073 5,156 Accrued Payroll 469,576 — Deposits Payable 1,092,516 — Due to Other Governments 37,010 — Other Payables 235,380 — Unearned Revenue 10,565 — Total Liabilities 2,374,120 5,156 DEFERRED INFLOWS OF RESOURCES Property Taxes 9,334,154 1,727,015 Leases 733,295 — Grants — — Total Deferred Inflows of Resources 10,067,449 1,727,015 Total Liabilities and Deferred Inflows of Resources 12,441,569 1,732,171 FUND BALANCES Nonspendable 186,215 — Restricted — 3,518,465 Committed 315,407 50,946 Assigned — — Unassigned 13,286,373 — Total Fund Balances 13,787,995 3,569,411 Total Liabilities, Deferred Inflows of Resources and Fund Balances 26,229,564 5,301,582 The notes to the financial statements are an integral part of this statement. 34 Page 71 of 268  Capital Projects Facilities Debt Capital Maintenance Service Projects Reserve Nonmajor Totals 36,870 4,701,300 1,425,394 16,888,729 37,713,902 — 461,765 — 515,460 14,711,275 — 12,446 — 517,249 587,795 — — — — 152,613 — — — — 1,076,318 — — — 108,319 117,961 — — — 1,458,030 3,110,629 — — — 15,747 201,962 36,870 5,175,511 1,425,394 19,503,534 57,672,455 550 1,060,938 18,835 112,118 1,726,670 — — — — 469,576 — — — — 1,092,516 — — — — 37,010 — — — — 235,380 — — — — 10,565 550 1,060,938 18,835 112,118 3,571,717 — — — 515,460 11,576,629 — — — — 733,295 — — — 616,305 616,305 — — — 1,131,765 12,926,229 550 1,060,938 18,835 1,243,883 16,497,946 — — — 15,747 201,962 36,320 — — 14,225,546 17,780,331 — 3,161,401 — 780,897 4,308,651 — 953,172 1,406,559 3,237,461 5,597,192 — — — — 13,286,373 36,320 4,114,573 1,406,559 18,259,651 41,174,509 36,870 5,175,511 1,425,394 19,503,534 57,672,455 The notes to the financial statements are an integral part of this statement. 35 Page 72 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Reconciliation of the Total Governmental Fund Balance to the Statement of Net Position - Governmental Activities December 31, 2024 Total Governmental Fund Balances $ 41,174,509 Amounts reported for governmental activities in the Statement of Net Position are different because: Capital assets used in Governmental Activities are not financial resources and therefore, are not reported in the funds. 140,223,034 Less: Internal Service Capital Assets (3,848,627) Deferred outflows (inflows) of resources related to the pensions not reported in the funds. Deferred Items - IMRF 1,015,867 Deferred Items - Police Pension 3,490,993 Deferred Items - RBP (420,777) Deferred Items - ARO 92,769 Internal service funds are used by the Village to charge the costs of vehicle and equipment management and employee insurance to individual funds. The assets and liabilities of the internal service funds are included in the governmental activities in the Statement of Net Position. 11,260,350 Long-term liabilities are not due and payable in the current period and therefore are not reported in the funds. Compensated Absences Payable (914,373) Net Pension Liability - IMRF (276,449) Net Pension Liability - Police Pension (26,219,034) Total OPEB Liability - RBP (1,632,068) Asset Retirement Obligation (134,000) General Obligation Bonds Payable (24,240,000) Unamortized Bond Premium (541,871) Leases Payable (109,055) Subscriptions Payable (194,157) Net Position of Governmental Activities 138,727,111 The notes to the financial statements are an integral part of this statement. 36 Page 73 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds For the Fiscal Year Ended December 31, 2024 See Following Page 37 Page 74 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds For the Fiscal Year Ended December 31, 2024 Special Revenue Central Business General District TIF Revenues Taxes $ 13,154,215 1,727,015 Intergovernmental 11,478,929 — Licenses and Permits 1,926,728 — Charges for Services 1,144,494 — Fines and Forfeitures 575,214 — Investment Income 792,495 36,809 Miscellaneous — — Total Revenues 29,072,075 1,763,824 Expenditures General Government 6,637,022 411,106 Public Safety 12,176,422 — Highways and Streets 2,642,426 — Capital Outlay 244,388 — Debt Service Principal Retirement 120,454 — Interest and Fiscal Charges 13,604 — Total Expenditures 21,834,316 411,106 Excess (Deficiency) of Revenues Over (Under) Expenditures 7,237,759 1,352,718 Other Financing Sources (Uses) Transfers In 53,400 — Transfers Out (8,788,598) (150,000) (8,735,198) (150,000) Net Change in Fund Balances (1,497,439) 1,202,718 Fund Balances - Beginning 15,285,434 — Adjustment - Nonmajor to Major Fund — 2,366,693 Fund Balances - Beginning as Adjusted 15,285,434 2,366,693 Fund Balances - Ending 13,787,995 3,569,411 The notes to the financial statements are an integral part of this statement. 38 Page 75 of 268  Capital Projects Facilities Debt Capital Maintenance Service Projects Reserve Nonmajor Totals — 4,016,103 — 489,284 19,386,617 — — — 1,471,358 12,950,287 — — — — 1,926,728 — — — 2,670,064 3,814,558 — — — — 575,214 1,889 578,998 33,049 625,460 2,068,700 — 147,646 — 176,223 323,869 1,889 4,742,747 33,049 5,432,389 41,045,973 — — — 397,951 7,446,079 — — — 2,221,307 14,397,729 — — — 573,682 3,216,108 — 16,930,665 104,544 582,687 17,862,284 1,525,000 — — 27,997 1,673,451 712,429 — — — 726,033 2,237,429 16,930,665 104,544 3,803,624 45,321,684 (2,235,540) (12,187,918) (71,495) 1,628,765 (4,275,711) 2,235,278 6,738,598 525,000 2,000,000 11,552,276 — (2,288,678) — — (11,227,276) 2,235,278 4,449,920 525,000 2,000,000 325,000 (262) (7,737,998) 453,505 3,628,765 (3,950,711) 36,582 11,852,571 953,054 16,997,579 45,125,220 — — — (2,366,693) — 36,582 11,852,571 953,054 14,630,886 45,125,220 36,320 4,114,573 1,406,559 18,259,651 41,174,509 The notes to the financial statements are an integral part of this statement. 39 Page 76 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of the Governmental Funds to the Statement of Activities - Governmental Activities For the Fiscal Year Ended December 31, 2024 Net Change in Fund Balances - Total Governmental Funds $ (3,950,711) Amounts reported for governmental activities in the Statement of Activities are different because: Governmental funds report capital outlays as expenditures. However, in the Statement of Activities the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense. Capital Outlays 14,723,236 Depreciation Expense (4,514,813) Disposals - Cost (1,431,623) Disposals - Accumulated Depreciation 1,373,114 Less: Internal Service Capital Asset Related Activity (1,479,400) The net effect of deferred outflows (inflows) of resources related to the pensions not reported in the funds. Change in Deferred Items - IMRF (1,136,491) Change in Deferred Items - Police Pension (1,834,882) Change in Deferred Items - RBP (264,712) Change in Deferred Items - ARO (10,308) The issuance of long-term debt provides current financial resources to governmental funds, while the repayment of the principal on long-term debt consumes the current financial resources of the governmental funds. Change in Compensated Absences Payable (114,910) Change in Net Pension Liability/(Asset) - IMRF (22,552) Change in Net Pension Liability - Police Pension 509,953 Change in Total OPEB Liability - RBP 239,104 Retirement of Debt 1,673,451 Amortization of Bond Premium 38,167 Internal service funds are used by the Village to charge the costs of vehicle and equipment management and employee compensated absences to individual funds. The net revenue of certain activities of internal service funds is reported with governmental activities. 288,170 Changes in Net Position of Governmental Activities 4,084,793 The notes to the financial statements are an integral part of this statement. 40 Page 77 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Statement of Net Position - Proprietary Funds December 31, 2024 See Following Page 41 Page 78 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Statement of Net Position - Proprietary Funds December 31, 2024 Water and Sanitary Sewer ASSETS Current Assets Cash and Investments $ 15,900,174 Receivables - Net of Allowances Accounts 1,681,928 Intergovernmental 6,175,097 Due from Other Governments 315,318 Prepaids and Other 27,150 Inventories — Total Current Assets 24,099,667 Noncurrent Assets Capital Assets Nondepreciable/Nonamortizable 6,824,785 Depreciable/Amortizable 93,208,030 Accumulated Depreciation/Amortization (48,051,660) Total Capital Assets 51,981,155 Other Assets Equity Investment in Joint Venture 16,034,655 Total Noncurrent Assets 68,015,810 Total Assets 92,115,477 DEFERRED OUTFLOWS OF RESOURCES Deferred Items - IMRF 211,925 Deferred Items - OPEB 48,074 Deferred Items - ARO 318,559 Loss on Refunding — Total Deferred Outflows of Resources 578,558 Total Assets/Deferred Outflows of Resources 92,694,035 The notes to the financial statements are an integral part of this statement. 42 Page 79 of 268 Business-Type Activities - Enterprise Funds Governmental Nonmajor Activities Village Links/ Residential Internal Reserve 22 Parking Solid Waste Totals Service 2,451,728 2,191,285 607,361 21,150,548 6,049,177 49,907 91,662 325,027 2,148,524 379,414 — — — 6,175,097 — — — — 315,318 — 18,409 — — 45,559 965,409 113,621 — 5,098 118,719 124,961 2,633,665 2,282,947 937,486 29,953,765 7,518,961 15,767,399 — — 22,592,184 1,781,386 15,542,363 22,852,973 101,748 131,705,114 7,252,804 (6,735,355) (5,083,364) (79,788) (59,950,167) (5,185,563) 24,574,407 17,769,609 21,960 94,347,131 3,848,627 — — — 16,034,655 — 24,574,407 17,769,609 21,960 110,381,786 3,848,627 27,208,072 20,052,556 959,446 140,335,551 11,367,588 410,209 — — 622,134 — 58,115 — — 106,189 — — — — 318,559 — 21,503 — — 21,503 — 489,827 — — 1,068,385 — 27,697,899 20,052,556 959,446 141,403,936 11,367,588 The notes to the financial statements are an integral part of this statement. 43 Page 80 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Statement of Net Position - Proprietary Funds - Continued December 31, 2024 Water and Sanitary Sewer LIABILITIES Current Liabilities Accounts Payable $ 825,470 Accrued Payroll 49,150 Deposits Payable 187,882 Due to Other Governments — Other Payable 107,573 Current Portion of Long-Term Debt 357,142 Total Current Liabilities 1,527,217 Noncurrent Liabilities Compensated Absences Payable 35,750 Net Pension Liability - IMRF 57,011 Total OPEB Liability - RBP 173,209 Asset Retirement Obligation 395,726 General Obligation Bonds Payable - Net 6,103,031 Total Noncurrent Liabilities 6,764,727 Total Liabilities 8,291,944 DEFERRED INFLOWS OF RESOURCES Deferred Items - IMRF 2,428 Deferred Items - RBP 95,118 Total Deferred Inflows of Resources 97,546 Total Liabilities/Deferred Inflows of Resources 8,389,490 NET POSITION Net Investment in Capital Assets 51,981,155 Restricted - Purchase Contracts 1,329,395 Unrestricted 30,959,013 Total Net Position 84,269,563 The notes to the financial statements are an integral part of this statement. 44 Page 81 of 268 Business-Type Activities - Enterprise Funds Governmental Nonmajor Activities Village Links/ Residential Internal Reserve 22 Parking Solid Waste Totals Service 183,844 967 291,854 1,302,135 46,077 88,158 — — 137,308 13,917 — — — 187,882 — 26,868 — — 26,868 — 304,397 — — 411,970 — 411,143 — — 768,285 34,960 1,014,410 967 291,854 2,834,448 94,954 44,216 — — 79,966 12,284 110,352 — — 167,363 — 209,401 — — 382,610 — — — — 395,726 — 2,089,077 — — 2,089,077 — 2,453,046 — — 3,114,742 12,284 3,467,456 967 291,854 5,949,190 107,238 4,699 — — 7,127 — 114,985 — — 210,103 — 119,684 — — 217,230 — 3,587,140 967 291,854 6,166,420 107,238 21,822,321 17,769,609 21,960 91,595,045 3,848,627 50,862 — — 1,380,257 178,477 2,237,576 2,281,980 645,632 36,124,201 7,233,246 24,110,759 20,051,589 667,592 129,099,503 11,260,350 The notes to the financial statements are an integral part of this statement. 45 Page 82 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Statement of Revenue, Expenses, and Changes in Net Position - Proprietary Funds For the Fiscal Year Ended December 31, 2024 Water and Sanitary Sewer Operating Revenues Charges for Services $ 14,621,974 Interfund Services — Total Operating Revenues 14,621,974 Operating Expenses Operations 12,687,330 Depreciation and Amortization 2,226,961 Total Operating Expenses 14,914,291 Operating Income (Loss) (292,317) Nonoperating Revenues (Expenses) Investment Income 1,221,075 Other Income — Joint Venture Income 89,623 Disposal of Capital Assets — Interest Expense (316,188) 994,510 Income (Loss) Before Transfers 702,193 Transfers Out (250,000) Change in Net Position 452,193 Net Position - Beginning 83,817,370 Net Position - Ending 84,269,563 The notes to the financial statements are an integral part of this statement. 46 Page 83 of 268 Business-Type Activities - Enterprise Funds Governmental Nonmajor Activities Village Links/ Residential Internal Reserve 22 Parking Solid Waste Totals Services 8,199,282 2,045,955 2,043,395 26,910,606 — — — — — 5,531,448 8,199,282 2,045,955 2,043,395 26,910,606 5,531,448 7,645,874 336,646 1,968,462 22,638,312 5,109,596 461,385 556,945 7,320 3,252,611 513,020 8,107,259 893,591 1,975,782 25,890,923 5,622,616 92,023 1,152,364 67,613 1,019,683 (91,168) 72,095 101,355 37,254 1,431,779 344,999 — — — — 2,517 — — — 89,623 — (6,199) — — (6,199) 31,822 (81,900) — — (398,088) — (16,004) 101,355 37,254 1,117,115 379,338 76,019 1,253,719 104,867 2,136,798 288,170 — (75,000) — (325,000) — 76,019 1,178,719 104,867 1,811,798 288,170 24,034,740 18,872,870 562,725 127,287,705 10,972,180 24,110,759 20,051,589 667,592 129,099,503 11,260,350 The notes to the financial statements are an integral part of this statement. 47 Page 84 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Statement of Cash Flows - Proprietary Funds For the Fiscal Year Ended December 31, 2024 Water and Sanitary Sewer Cash Flows from Operating Activities Receipts from Customers and Users $ 14,621,974 Interfund Services Provided — Payments to Suppliers (17,284,531) Payments to Employees (1,377,607) (4,040,164) Cash Flows from Capital and Related Financing Activities Purchase of Capital Assets (7,553,796) Disposal of Capital Assets — Issuance of Debt 6,651,145 Principal Retirement (342,997) Interest Expense (316,188) (1,561,836) Cash Flows from Noncapital Financing Activities Transfers Out (250,000) Cash Flows from Investing Activities Investment Income 1,221,075 Net Change in Cash and Cash Equivalents (4,630,925) Cash and Cash Equivalents - Beginning 20,531,099 Cash and Cash Equivalents - Ending 15,900,174 Reconciliation of Operating Income to Net Cash Provided (Used) by Operating Activities Operating Income (Loss) (292,317) Adjustments to Reconcile Operating Income Income to Net Cash Provided by (Used in) Operating Activities: Depreciation and Amortization Expense 2,226,961 Other Income 315,897 (Increase) Decrease in Current Assets (6,410,727) Increase (Decrease) in Current Liabilities 120,022 Net Cash Provided by Operating Activities (4,040,164) The notes to the financial statements are an integral part of this statement. 48 Page 85 of 268 Business-Type Activities - Enterprise Funds Governmental Nonmajor Activities Village Links/ Residential Internal Reserve 22 Parking Solid Waste Totals Service 8,199,282 2,045,955 2,043,395 26,910,606 — — — — — 5,531,448 (3,646,124) (347,614) (2,098,389) (23,376,658) (4,863,003) (3,425,129) — — (4,802,736) (404,787) 1,128,029 1,698,341 (54,994) (1,268,788) 263,658 (1,108,361) (1,548,509) — (10,210,666) (1,993,902) 65,810 — — 65,810 33,304 — — — 6,651,145 — (284,485) — — (627,482) — (81,900) — — (398,088) — (1,408,936) (1,548,509) — (4,519,281) (1,960,598) — (75,000) — (325,000) — 72,095 101,355 37,254 1,431,779 344,999 (208,812) 176,187 (17,740) (4,681,290) (1,351,941) 2,660,540 2,015,098 625,101 25,831,838 7,401,118 2,451,728 2,191,285 607,361 21,150,548 6,049,177 92,023 1,152,364 67,613 1,019,683 (91,168) 461,385 556,945 7,320 3,252,611 513,020 386,144 — — 702,041 2,517 (48,731) — (5,304) (6,464,762) (205,362) 237,208 (10,968) (124,623) 221,639 44,651 1,128,029 1,698,341 (54,994) (1,268,788) 263,658 The notes to the financial statements are an integral part of this statement. 49 Page 86 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Statement of Fiduciary Net Position December 31, 2024 Pension Trust ASSETS Cash and Cash Equivalents $ 34,458 Investments Illinois Police Officers' Pension Investment Fund 41,447,815 Prepaids 2,796 Total Assets 41,485,069 LIABILITIES Accounts Payable 800 NET POSITION Net Position Restricted for Pensions 41,484,269 The notes to the financial statements are an integral part of this statement. 50 Page 87 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Statement of Changes in Fiduciary Net Position For the Fiscal Year Ended December 31, 2024 Pension Trust Additions Contributions - Employer $ 2,152,200 Contributions - Plan Members 495,063 Other 63,745 Total Contributions 2,711,008 Investment Income Interest Earned 11,350 Net Change in Fair Value 3,652,451 3,663,801 Less Investment Expenses (24,240) Net Investment Income 3,639,561 Total Additions 6,350,569 Deductions Administration 62,171 Benefits and Refunds 3,073,353 Total Deductions 3,135,524 Change in Fiduciary Net Position 3,215,045 Net Position Restricted for Pensions Beginning 38,269,224 Ending 41,484,269 The notes to the financial statements are an integral part of this statement. 51 Page 88 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Village of Glen Ellyn, Illinois (the Village), is a municipal corporation governed by a seven- member board consisting of six trustees and the Village President. The Village’s major operations include police protection, highways and streets maintenance and reconstruction, planning and zoning services, public improvements, economic development, water and sanitary sewer, golf course and recreation, parking, solid waste collection, and general administrative services. The government-wide financial statements are prepared in accordance with generally accepted accounting principles (GAAP). The Governmental Accounting Standards Board (GASB) is responsible for establishing GAAP for state and local governments through its pronouncements (Statements and Interpretations). The more significant of the Village’s accounting policies established in GAAP and used by the Village are described below. REPORTING ENTITY The accompanying financial statements present the government and its component units, entities for which the government is considered to be financially accountable. Blended component units are, in substance, part of the primary government’s operations, even though they are legally separate entities. Thus, blended component units are appropriately presented as funds of the primary government. Each discretely presented component unit is reported in a separate column in the government-wide financial statements to emphasize that it is both legally and substantively separate from the government. Management has determined that there is one fiduciary component unit that is required to be included in the financial statements of the Village as a pension trust fund and there are no discretely component units to include in the reporting entity. Police Pension Employees Retirement System The Village’s sworn police employees participate in the Police Pension Employees Retirement System (PPERS). PPERS functions for the benefit of these employees and is governed by a five-member pension board. Two members appointed by the Village President, one elected pension beneficiary and two elected police employees constitute the pension board. The participants are required to contribute a percentage of salary as established by state statute and the Village is obligated to fund all remaining PPERS costs based upon actuarial valuations. The State of Illinois is authorized to establish benefit levels and the Village is authorized to approve the actuarial assumptions used in the determination of contribution levels. Although it is legally separate from the Village, the PPERS is reported as if it were part of the primary government because its sole purpose is to provide retirement benefits for the Village’s police employees. The PPERS is reported as a fiduciary fund, and specifically a pension trust fund, due to the fiduciary responsibility exercised over the PPERS. BASIS OF PRESENTATION Government-Wide Statements The Village’s basic financial statements include both government-wide (reporting the Village as a whole) and fund financial statements (reporting the Village’s major funds). Both the government-wide and fund financial statements categorize primary activities as either governmental or business type. The Village’s police and fire protection, highways and streets maintenance and reconstruction, planning and zoning services, public improvements, economic development, and general administrative services are classified as governmental activities. The Village’s water and sanitary sewer, golf course and recreation, parking, and residential solid waste services are classified as business-type activities. 52 Page 89 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued BASIS OF PRESENTATION - Continued Government-Wide Statements - Continued In the government-wide Statement of Net Position, both the governmental and business-type activities columns are: (a) presented on a consolidated basis by column, and (b) reported on a full accrual, economic resource basis, which recognizes all long-term assets/deferred outflows and receivables as well as long-term debt/deferred inflows and obligations. The Village’s net position is reported in three parts: net investment in capital assets; restricted; and unrestricted. The Village first utilizes restricted resources to finance qualifying activities. The government-wide Statement of Activities reports both the gross and net cost of each of the Village’s functions and business-type activities (general government, public safety, highways and streets, etc.). The functions are supported by general government revenues (property, sales and use taxes, certain intergovernmental revenues, fines, permits and charges, etc.). The Statement of Activities reduces gross expenses (including depreciation/amortization) by related program revenues, which include 1) charges to customers or applicants who purchase, use, or directly benefit from foods, services, or privileges provided by a given function or segment and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. The net costs (by function or business-type activity) are normally covered by general revenue (property tax, sales tax, intergovernmental revenues, investment income, etc.). The Village does not allocate indirect costs. An administrative service fee is charged by the General Fund to the other operating funds that is eliminated like a reimbursement (reducing the revenue and expense in the General Fund) to recover the direct costs of General Fund services provided (finance, personnel, purchasing, legal, technology management, etc.). This government-wide focus is more on the sustainability of the Village as an entity and the change in the Village’s net position resulting from the current year’s activities. Fund Financial Statements The financial transactions of the Village are reported in individual funds in the fund financial statements. Each fund is accounted for by providing a separate set of self-balancing accounts that comprise its assets/deferred outflows, liabilities/deferred inflows, fund equity, revenues and expenditures/expenses. Funds are organized into three major categories: governmental, proprietary, and fiduciary. The emphasis in fund financial statements is on the major funds in either the governmental or business-type activities categories. GASB Statement No. 34 sets forth minimum criteria (percentage of the assets/deferred outflows, liabilities/ deferred inflows, revenues or expenditures/expenses of either fund category or the governmental and enterprise combined) for the determination of major funds. The Village electively added funds, as major funds, which either had debt outstanding or specific community focus. The nonmajor funds are combined in a column in the fund financial statements. A fund is considered major if it is a primary operating fund of the Village or meets the following criteria: 53 Page 90 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued BASIS OF PRESENTATION - Continued Fund Financial Statements - Continued Total assets/deferred outflows, liabilities/deferred inflows, revenues, or expenditures/expenses of that individual governmental or enterprise fund are at least 10 percent of the corresponding total for all funds of that category or type; and Total assets/deferred outflows, liabilities/deferred inflows, revenues, or expenditures/expenses of the individual governmental or enterprise fund are at least 5 percent of the corresponding total for all governmental and enterprise funds combined. The various funds are reported by generic classification within the financial statements. The following fund types are used by the Village: Governmental Funds The focus of the governmental funds’ measurement (in the fund statements) is upon determination of financial position and changes in financial position (sources, uses, and balances of financial resources) rather than upon net income. The following is a description of the governmental funds of the Village: General Fund is the general operating fund of the Village. It is used to account for all financial resources except those required to be accounted for in another fund. The General Fund is a major fund. Special revenue funds are used to account for the proceeds of specific revenue sources that are legally restricted to expenditures for specified purposes. The Central Business District TIF Fund, a major fund, is used to account for property tax increment revenues and economic development expenditures within the boundary of the TIF area. The Village maintains four nonmajor special revenue funds. Debt service funds are used to account for the accumulation of funds for the periodic payment of principal and interest on general long-term debt. The Debt Service Fund is treated as a major fund and is used to account for monies restricted, committed or assigned to pay for principal and interest payments on the Village’s debt obligations. Capital projects funds are used to account for financial resources to be used for the acquisition or construction of major capital facilities (other than those financed by business-type/proprietary funds). The Village maintains three capital projects funds.The Capital Projects Fund, a major fund, is used to account for the financing of general street and infrastructure projects. Financing is primarily provided through utility taxes assigned for capital purposes, a transfer of property taxes from the General Fund, real estate transfer tax, and the Village's food and beverage tax. The Capital Projects Fund is also supplemented by grants for various projects. The Facilities Maintenance Reserve Fund, a major fund, is used to account for the cost of maintaining various Village owned facilities. Financing is provided through charges to other funds. Proprietary Funds The focus of proprietary fund measurement is upon determination of operating income, changes in net position, financial position, and cash flows. The generally accepted accounting principles applicable are those similar to businesses in the private sector. The following is a description of the proprietary funds of the Village. 54 Page 91 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued BASIS OF PRESENTATION - Continued Fund Financial Statements - Continued Proprietary Funds - Continued Enterprise funds are required to account for operations for which a fee is charged to external users for goods or services and the activity (a) is financed with debt that is solely secured by a pledge of the net revenues, (b) has third party requirements that the cost of providing services, including capital costs, be recovered with fees and charges or (c) establishes fees and charges based on a pricing policy designed to recover similar costs. The Village maintains four enterprise funds. The Water and Sanitary Sewer Fund, a major fund, is used to account for the provisions of water and sanitary sewer services to the residents of the Village. All activities necessary to provide such services are accounted for in this fund, including, but not limited to, administration, operations, maintenance, financing and related debt services and billing and collection. The Village Links/Reserve 22 Fund, also a major fund, is used to account for the operations of the Village Links golf course and Reserve 22 restaurant facilities. Financing is provided by user charges. The Parking Fund, also a major fund, is used to account for the provision of public parking services for a fee. All activities are accounted for including administration, operations, financing and revenue collection. Internal service funds are used to account for the financing of goods or services provided by an activity to other departments, funds or component units of the Village on a cost-reimbursement basis. The Village maintains two internal services funds. The Insurance Fund is used to account for the accumulation of monies for the purpose of providing a staff health benefit plan and participation in the Municipal Insurance Cooperative Agency (MICA), a public entity risk management/insurance pool. Financing is provided by charges to other funds and contributions from employees. The Equipment Services Fund is used to account for the cost of maintaining and replacing Village owned vehicles and equipment. Financing is provided by charges to other funds. The Village’s internal service funds are presented in the proprietary funds financial statements. Because the principal users of the internal services are the Village’s governmental activities, the financial statements of the internal service funds are consolidated into the governmental column when presented in the government-wide financial statements. To the extent possible, the cost of these services is reported in the appropriate functional activity (general government, public safety, highways and streets, etc.). Fiduciary Funds Fiduciary funds are used to report assets held in a trustee or agency capacity for others and therefore are not available to support Village programs. The reporting focus is on net position and changes in net position and is reported using accounting principles similar to proprietary funds. Pension trust funds are used to account for assets held in a trustee capacity for pension benefit payments. The Police Pension Fund accounts for the accumulation of resources to pay retirement and other related benefits for sworn members of the Village’s police force. The Village’s pension trust fund is presented in the fiduciary fund financial statements. Since by definition these assets are being held for the benefit of a third party (pension participants) and cannot be used to address activities or obligations of the Village, these funds are not incorporated into the government-wide statements. 55 Page 92 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued MEASUREMENT FOCUS AND BASIS OF ACCOUNTING Measurement focus is a term used to describe “which” transactions are recorded within the various financial statements. Basis of accounting refers to “when” transactions are recorded regardless of the measurement focus applied. Measurement Focus On the government-wide Statement of Net Position and the Statement of Activities, both governmental and business-type activities are presented using the economic resources measurement focus as defined below. In the fund financial statements, the “current financial resources” measurement focus or the “economic resources” measurement focus is used as appropriate. All governmental funds utilize a “current financial resources” measurement focus. Only current financial assets/ deferred outflows and liabilities/deferred inflows are generally included on their balance sheets. Their operating statements present sources and uses of available spendable financial resources during a given period. These funds use fund balance as their measure of available spendable financial resources at the end of the period. All proprietary and pension trust funds utilize an “economic resources” measurement focus. The accounting objectives of the “economic resources” measurement focus is the determination of operating income, changes in net position (or cost recovery), financial position, and cash flows. All assets/deferred outflows, liabilities/deferred inflows (whether current or noncurrent) associated with their activities are reported. Basis of Accounting In the government-wide Statement of Net Position and Statement of Activities, governmental and business-type activities are presented using the accrual basis of accounting. Under the accrual basis of accounting, revenues are recognized when earned and expenses are recorded when the liability/deferred inflow is incurred or economic asset used. Revenues, expenses, gains, losses, assets/deferred outflows, and liabilities/deferred inflows resulting from exchange and exchange-like transactions are recognized when the exchange takes place. In the fund financial statements, governmental funds are presented on the modified accrual basis of accounting. Under this modified accrual basis of accounting, revenues are recognized when “measurable and available.” Measurable means knowing or being able to reasonably estimate the amount. Available means collectible within the current period or within sixty days after year-end. The Village recognizes property taxes when they become both measurable and available in accordance with GASB Codification Section P70. A sixty-day availability period is used for revenue recognition for all other governmental fund revenues, except for sales taxes and utility taxes which use a 90-day period. Expenditures (including capital outlay) are recorded when the related fund liability is incurred, except for general obligation bond principal and interest which are recognized when due. In applying the susceptible to accrual concept under the modified accrual basis, those revenues susceptible to accrual are property taxes, sales and use taxes, franchise taxes, licenses,investment revenue, and charges for services. All other revenues are not susceptible to accrual because generally they are not measurable until received in cash. 56 Page 93 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued MEASUREMENT FOCUS AND BASIS OF ACCOUNTING - Continued Basis of Accounting - Continued All proprietary and pension trust funds utilize the accrual basis of accounting. Under the accrual basis of accounting, revenues are recognized when earned and expenses are recorded when the liability is incurred or economic asset used. Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund’s principal ongoing operations. The principal operating revenues of the Village’s enterprise funds and of the Village’s internal service funds are charges to customers for sales and services. The Village also recognizes as operating revenue the portion of tap fees intended to recover the cost of connecting new customers to the system. Operating expenses for enterprise funds and internal service funds include the cost of sales and services, administrative expenses, and depreciation/amortization on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. ASSETS/DEFERRED OUTFLOWS, LIABILITIES/DEFERRED INFLOWS, AND FUND BALANCE/ NET POSITION Cash and Investments Cash and cash equivalents on the Statement of Net Position are considered to be cash on hand, demand deposits, cash with fiscal agent. For the purpose of the proprietary funds “Statement of Cash Flows,” cash and cash equivalents are considered to be cash on hand, demand deposits, cash with fiscal agent, and all highly liquid investments with an original maturity of three months or less. Investments are generally reported at fair value. Short-term investments are reported at cost, which approximates fair value. For investments, the Village categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are significant unobservable inputs. Interfund Receivables, Payables and Activity Interfund activity is reported as loans, services provided, reimbursements or transfers. Loans are reported as interfund receivables and payables as appropriate and are subject to elimination upon consolidation. Services provided, deemed to be at market or near market rates, are treated as revenues and expenditures/expenses. Internal service fund services provided and used are not eliminated in the process of consolidation. Reimbursements are when one fund incurs a cost, charges the appropriate benefiting fund and reduces its related cost as a reimbursement. All other interfund transactions are treated as transfers. Transfers between governmental or proprietary funds are netted as part of the reconciliation to the government-wide financial statements. 57 Page 94 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued ASSETS/DEFERRED OUTFLOWS, LIABILITIES/DEFERRED INFLOWS, AND FUND BALANCE/ NET POSITION - Continued Receivables In the government-wide financial statements, receivables consist of all revenues earned at year-end and not yet received. Allowances for uncollectible accounts receivable are based upon historical trends and the periodic aging of accounts receivable. Major receivables balances for governmental activities include property taxes, sales and use taxes, franchise taxes, and grants. Business-type activities report charges for services as their major receivables. Prepaids/Inventories - Land Held for Resale Prepaids/inventories are valued at cost, which approximates market, using the first-in/first-out (FIFO) method. Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaids in both the government-wide and fund financial statements. The costs of governmental fund-type prepaids/ inventories are recorded as expenditures when consumed rather than when purchased. Capital Assets Capital assets purchased or acquired with an original cost of $20,000 or more, depending on asset class, are reported at historical cost or estimated historical cost. Contributed assets are reported at acquisition value as of the date received. Additions, improvements and other capital outlays that significantly extend the useful life of an asset are capitalized. Other costs incurred for repairs and maintenance are expensed as incurred. The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. General capital assets are long-lived assets of the Village as a whole. When purchased, such assets are recorded as expenditures in the governmental funds and capitalized. Infrastructure such as streets, traffic signals and signs are capitalized. The valuation basis for general capital assets are historical cost, or where historical cost is not available, estimated historical cost based on replacement costs. Capital assets in the proprietary funds are capitalized in the fund in which they are utilized. The valuation basis for proprietary fund capital assets are the same as those used for the general capital assets. Donated capital assets are capitalized at estimated acquisition value on the date donated. Depreciation/amortization on all assets is computed and recorded using the straight-line method of depreciation/ amortization over the following estimated useful lives: Land Improvements 10 - 45 Years Buildings and Improvements 7 - 45 Years Vehicles 10 - 20 Years Machinery, Equipment and Other 5 - 30 Years Bridges 40 - 50 Years Storm Sewers 40 - 50 Years Streets 40 - 50 Years Water and Sanitary Sewer System 20 - 45 Years Lease Asset 5 - 30 Years Subscription Assets - Software 3 - 5 Years 58 Page 95 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued ASSETS/DEFERRED OUTFLOWS, LIABILITIES/DEFERRED INFLOWS, AND FUND BALANCE/ NET POSITION - Continued Deferred Outflows/Inflows of Resources Deferred outflow/inflow of resources represents a consumption/acquisition of net assets that applies to a future period and therefore will not be recognized as an outflow of resources (expense)/inflow of resources (revenue) until that future time. Compensated Absences The Village employees can earn a maximum of thirty days of paid time off annually, with all employees starting at seventeen days per year. At termination, all employees will receive all earned but unpaid annual leave. The maximum amount that an employee can accrue is forty days. Part time employees can earn a maximum of 40 hours of paid time off per year. Each year, employees are granted six days of sick leave, which can be accumulated to a maximum of 120 workdays. Part-time paid time off and sick leave may not be converted to any other form of compensation, and are not paid out upon termination. Long-Term Obligations In the government-wide financial statements, and proprietary fund types in the fund financial statements, long- term debt and other long-term obligations are reported as liabilities in the applicable governmental activities, business-type activities, or proprietary fund type Statement of Net Position. Bond premiums and discounts are deferred and amortized over the life of the bonds using the effective interest method. Bonds payable are reported net of the applicable bond premium or discount. Bond issuance costs are reported as expenses at the time of issuance. In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures. 59 Page 96 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued ASSETS/DEFERRED OUTFLOWS, LIABILITIES/DEFERRED INFLOWS, AND FUND BALANCE/ NET POSITION - Continued Net Position In the government-wide financial statements, equity is classified as net position and displayed in three components: Net Investment in Capital Assets - Consists of capital assets, including restricted capital assets, net of accumulated depreciation/amortization, and reduced by the outstanding balances of any bonds, mortgages, notes or other borrowings that are attributable to the acquisition, construction, or improvement of those assets. Restricted - Consists of net position with constraints placed on the use either by (1) external groups such as creditors, grantors, contributors, or laws or regulations of other governments; or (2) law through constitutional provisions or enabling legislation. Unrestricted - All other net position balances that do not meet the definition of “restricted” or “net investment in capital assets.” Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenditures/expenses during the reporting period. Actual results could differ from those estimates. NOTE 2 - STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY BUDGETARY INFORMATION Budgets are adopted on a basis consistent with generally accepted accounting principles, except that depreciation and amortization are not budgeted to proprietary funds. Annual appropriated budgets are adopted for the general, special revenue, debt service, capital projects, enterprise, internal service, and pension trust funds. All annual appropriations lapse at fiscal year-end. All departments of the Village submit requests for appropriation to the Village Manager so that a budget may be prepared. The budget is prepared by fund, function and activity, and includes information on the past year, current year estimates, and requested appropriations for the next fiscal year. The proposed budget is presented to the governing body for review. The governing body holds public hearings and may add to, subtract from, or change appropriations, but may not change the form of the budget. The Village Manager is authorized to transfer budgeted amounts between departments within any fund; however, any revisions that alter the total expenditures/expenses of any fund must be approved by the governing body. Expenditures/expenses may not legally exceed budgeted appropriations at the fund level. During the year, supplemental appropriations were necessary and are reflected in the financial statements. 60 Page 97 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 2 - STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY - Continued EXCESS OF ACTUAL EXPENSES OVER BUDGET IN INDIVIDUAL FUNDS The following funds had an excess of actual expenses/expenditures over budget for the fiscal year: Fund Excess Motor Fuel Tax $ 227,829 Police Pension 9,024 NOTE 3 - DETAIL NOTES ON ALL FUNDS DEPOSITS AND INVESTMENTS The Village maintains a cash and investment pool that is available for use by all funds except the pension trust fund. Each fund type's portion of this pool is displayed on the financial statements as "cash and investments." In addition, investments are separately held by several of the Village's funds. The deposits and investments of the pension trust fund are held separately from those of other funds. Permitted Deposits and Investments - Illinois Statutes authorizes the Village to make deposits/invest in commercial banks, savings and loan institutions, obligations of the U.S. Treasury and U.S. Agencies, obligations of States and their political subdivisions, credit union shares, repurchase agreements, commercial paper rated within the three highest classifications by at least two standard rating services, Illinois Funds, Illinois Public Reserves Investment Management Trust (IPRIME), Illinois Trust, and Illinois Metropolitan Investment Fund (IMET). Illinois Funds is an investment pool managed by the Illinois Public Treasurer’s Office which allows governments within the State to pool their funds for investment purposes. The Illinois Funds is not registered with the SEC as an investment company. The Illinois Public Reserves Investment Management Trust (IPRIME) is an investment opportunity and cash management service for Illinois Municipal Treasurers acting on behalf of counties, townships, cities, towns, villages, special road districts, public water supply districts, fire protection districts, drainage districts, levee districts, sewer districts, housing authorities, and all other political corporations or subdivisions of the State of Illinois. Participation in IPRIME is voluntary. IPRIME is not registered with the SEC as an Investment Company. Investments in IPRIME are valued at the share price, the price for which the investment could be sold. The Illinois Trust was established for the purpose of allowing various public agencies including, but not limited to, counties, townships, cities, towns, villages, school districts, housing authorities and public water supply districts, to jointly invest funds in accordance with the Laws of the State of Illinois. Participation in the Illinois Trust is voluntary. The Illinois Trust is not registered with the SEC as an Investment Company. Investments in the Illinois Trust are valued at the share price, the price for which the investment could be sold. Illinois Metropolitan Investment Fund (IMET) is a not-for-profit investment trust formed pursuant to the Illinois Municipal Code. IMET is managed by a Board of Trustees elected from the participating members. IMET is not registered with the SEC as an Investment Company. 61 Page 98 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 3 - DETAIL NOTES ON ALL FUNDS - Continued DEPOSITS AND INVESTMENTS - Continued Village Deposits. At year-end, the carrying amount of the Village’s deposits for governmental and business-type totaled $2,543,761 and the bank balances totaled $3,198,598. Investments. At year-end, the Village has the following investments and maturities: Investment Maturities (in Years) Fair Less Than More Than Investment Type Value 1 1-5 6-10 10 Illinois Funds $ 18,371,949 18,371,949 — — — IPRIME 26,818,720 26,818,720 — — Illinois Trust 17,175,005 17,175,005 — — — IMET 4,192 4,192 — — — Totals 62,369,866 62,369,866 — — — The Village has the following recurring fair value measurements as of December 31, 2024: • Illinois Funds of $18,371,949 are valued using net asset value per share as determined by the pool • IPRIME of $26,818,720 is valued using net asset value per share as determined by the pool • Illinois Trust of $17,175,005 is value using net asset value per share as determined by the pool • IMET of $4,192 is valued using net asset value per share as determined by the pool Interest Rate Risk. Interest rate risk is the risk that changes in interest rates will adversely affect the fair value of an investment. In accordance with its investment policy, the Village limits its exposure by structuring the portfolio to provide liquidity for operating funds and by investing in shorter-term securities. The investment policy limits the maximum maturity length of investments to five years from the date of purchase, except if matched to anticipated cash flow requirements (e.g., reserve funds), in which maturity can extend beyond five years. Any investment in security with a maturity longer than five years requires approval by the Village Board. Credit Risk. Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its obligations. The Village limits its exposure by primarily investing in Illinois Funds and IMET. However, the Village’s investment policy does not contain any guidance on credit risk except of investments in commercial paper (rated within the three highest classifications by at least two standard rating services). At year-end, the Village’s investment in the Illinois Funds is rated AAAmmf by Fitch, IPRIME and Illinois Trust are rated AAAm by Standard and Poor's, and IMET is rated AAAf by Moody's. The Illinois Metropolitan Investment Trust Convenience Fund is not rated. 62 Page 99 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 3 - DETAIL NOTES ON ALL FUNDS - Continued DEPOSITS AND INVESTMENTS - Continued Village - Continued Custodial Credit Risk. In the case of deposits, this is the risk that in the event of a bank failure, the Village’s deposits may not be returned to it. The Village’s investment policy requires pledging of collateral with a fair value of at least 110% of all bank balances in excess of federal depository insurance with the collateral held by an independent third party of the Federal Reserve Bank of Chicago in the Village’s name. At year-end, the entire amount of the bank balance of deposits was covered by collateral, federal depository or equivalent insurance. For an investment, this is the risk that in the event of the failure of the counterparty, the Village will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. To limits its exposure, the Village’s investment policy requires all security transactions that are exposed to custodial credit risk to be processed on a delivery versus payment (DVP) basis with the underlying investments held by a third- party custodian in the Village’s name. The Village’s investments in the Illinois Funds, IPRIME, Illinois Trust, and IMET are not subject to custodial credit risk. Concentration Risk. This is the risk of loss attributed to the magnitude of the Village’s investment in a single issuer. The Village’s investment policy states that no financial institution shall hold more than 25% of the Village’s investment portfolio, exclusive of U.S. Treasury securities in safekeeping and public investment pool. This does not include custodial accounts, where a financial institution will hold individual securities that are in the Village’s name. Public investment pools, such as the IMET and the Illinois Trust may comprise up to 25% each of the Village’s investment portfolio. The Illinois Treasurer’s Investment Pool (the Illinois Fund), may comprise up to 75% of the Village’s investment portfolio. At year-end, the Village has no investments over 5 percent of the total cash and investment portfolio (other than investments issued or explicitly guaranteed by the U.S. government and investments in mutual funds, external investment pools, and other pooled investments). Police Pension Fund The Illinois Police Officers Pension Investment Fund (IPOPIF) is an investment trust fund responsible for the consolidation and fiduciary management of the pension assets of Illinois suburban and downstate police pension funds. IPOPIF was created by Public Act 101-0610, and codified within the Illinois Pension Code, becoming effective January 1, 2020, to streamline investments and eliminate unnecessary and redundant administrative costs, thereby ensuring assets are available to fund pension benefits for the beneficiaries of the participating pension funds. Participation in IPOPIF by Illinois suburban and downstate police pension funds is mandatory. Investments of the Fund are combined in a commingled external investment pool and held by IPOPIF. A schedule of investment expenses is included in IPOPIF‘s annual comprehensive financial report. For additional information on IPOPIF’s investments, please refer to their annual comprehensive financial report, which can be obtained from IFPIF at 456 Fulton Street, Suite 402 Peoria, Illinois 61602 or at www.ipopif.org. Deposits. The Fund retains all its available cash with one financial institution. Available cash is determined to be that amount which is required for the current expenditures of the Fund. The excess of available cash is required to be transferred to IPOPIF for purposes of the long-term investment for the Fund. At year-end, the carrying amount of the Fund’s cash on hand totaled $34,458 and the bank balances totaled $34,458. 63 Page 100 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 3 - DETAIL NOTES ON ALL FUNDS - Continued DEPOSITS AND INVESTMENTS - Continued Police Pension Fund - Continued Custodial Credit Risk. In the case of deposits, this is the risk that in the event of a bank failure, the Fund’s deposits may not be returned to it. The Fund’s deposits are covered by FDIC insurance and flow-through FDIC insurance; however, the investment policy is silent regarding custodial credit risk for deposits. At year-end, the entire carrying amount of the bank balance of deposits is covered by federal depository or equivalent insurance. Investments. At year-end the Fund has $41,447,815 invested in IPOPIF. The pooled investments consist of the investments as noted in the target allocation table available at www.ipopif.org. Investments in IPOPIF are valued at IPOPIF's share price, which is the price the investment could be sold. There are no unfunded commitments at yer-end. The fund may redeem shares with a seven calendar day notice. IPOPIF may, at its sole discretion and based on circumstances, process redemption requests with fewer than a seven calendar day notice. Regular redemptions of the same amount on a particular day of the month may be arranged with IPOPIF. Investment Policy. IPOPIF’s current investment policy was adopted by the Board of Trustees on December 17, 2021. IPOPIF is authorized to invest in all investments allowed by Illinois Compiled Statutes (ILCS). The IPOPIF shall not be subject to any of the limitations applicable to investments of pension fund assets currently held by the transferor pension funds under Sections 1-113.1 through 1-113.12 or Article 3 of the Illinois Pension Code. Rate of Return For the year ended December 31, 2024, the annual money-weighted rate of return on pension plan investments, net of pension plan investment expense, was 9.54%. The money-weighted rate of return expresses investment performance, net of investment expense, adjusted for the changing amounts actually invested. PROPERTY TAXES Property taxes for 2023 attach as an enforceable lien on January 1, on property values assessed as of the same date. Taxes are levied by December of the subsequent fiscal year (by passage of a Tax Levy Ordinance). Tax bills are prepared by DuPage County and are payable in two installments, on or about June 1 and September 1 during the following year. The County collects such taxes and remits them periodically. 64 Page 101 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 3 - DETAIL NOTES ON ALL FUNDS - Continued INTERGOVERNMENTAL RECEIVABLE The General Obligation Refunding Bonds of 2024 was issued to provide financing to the Glenbard Waste Water Authority (the Authority). The Authority is repaying these bonds issued by the Village. Future principal and interest payments owed from the Authority are as follows, with the principal portion recorded as an intergovernmental receivable in the Water and Sanitary Sewer fund/governmental activities. The annual debt service requirements are as follows: Fiscal Year Principal Interest Totals 2025 $ 206,584 281,025 487,609 2026 216,584 271,275 487,859 2027 226,584 261,025 487,609 2028 236,584 250,275 486,859 2029 251,584 239,025 490,609 2030 261,584 227,025 488,609 2031 271,584 214,525 486,109 2032 286,584 201,525 488,109 2033 301,584 187,775 489,359 2034 316,584 173,275 489,859 2035 331,584 158,025 489,609 2036 346,584 142,025 488,609 2037 361,584 125,275 486,859 2038 381,584 107,775 489,359 2039 401,584 89,275 490,859 2040 416,584 69,775 486,359 2041 436,584 53,575 490,159 2042 451,584 36,575 488,159 2043 471,585 18,975 490,560 6,175,097 3,108,025 9,283,122 65 Page 102 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 3 - DETAIL NOTES ON ALL FUNDS - Continued INTERFUND TRANSFERS Interfund transfers for the year consisted of the following: Transfer In Transfer Out Amount General Capital Projects $ 53,400 (1) Debt Service Capital Projects 2,235,278 (2) Capital Projects General 6,513,598 (3) Capital Projects Central Business District TIF 150,000 (1) Capital Projects Parking 75,000 (1) Facilities Maintenance Reserve General 275,000 (3) Facilities Maintenance Reserve Water and Sanitary Sewer 250,000 (1) Nonmajor Governmental General 2,000,000 (3) 11,552,276 Transfers are used to (1) move revenues from the fund that statute or budget requires to collect them to the fund that statute or budget requires to expend them, (2) move receipts restricted to debt service from the funds collecting the receipts to the Debt Service Fund as debt service payments become due, and (3) use unrestricted revenues collected in the General Fund to finance capital projects in accordance with budgetary authorizations. LEASES RECEIVABLE The Village is a lessor on the following leases at year end: Lease Start Date End Date Payments Interest Rate Civic Center Office Space August 1, 2019 August 1, 2029 $30,000 - $58,138 per Year 4.00% Verizon Cell Tower December 31, 2012 December 31, 2036 $26,000 - $66,645 per Year 4.00% T-Mobile Cell Tower December 1, 2007 December 1, 2032 $20,000 - $51,266 per Year 4.00% Sprint Cell Tower December 1, 2012 December 1, 2027 $34,218 - $51,757 per Year 3.00% During the fiscal year, the Village has recognized $111,477 of lease revenue. There were no variable or other payments not previously included in the measurement of the lease receivable recognized in the current year. 66 Page 103 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 3 - DETAIL NOTES ON ALL FUNDS - Continued LEASES RECEIVABLE - Continued The future principal and interest lease payments as of the year-end were as follows: Total Fiscal Lease Year Principal Interest Payment 2025 $ 147,732 42,077 189,809 2026 158,800 36,640 195,440 2027 117,174 30,791 147,965 2028 126,306 26,105 152,411 2029 76,991 21,052 98,043 2030 83,992 17,973 101,965 2031 91,431 14,613 106,044 2032 46,013 10,956 56,969 2033 50,133 9,115 59,248 2034 54,508 7,110 61,618 2035 59,154 4,929 64,083 2036 64,084 2,561 66,645 Totals 1,076,318 223,922 1,300,240 CAPITAL ASSETS Governmental Activities Depreciation/amortization expense was charged to governmental activities as follows: General Government $ 430,709 Public Safety 412,389 Highways and Streets 3,158,695 Internal Service 513,020 4,514,813 67 Page 104 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 3 - DETAIL NOTES ON ALL FUNDS - Continued CAPITAL ASSETS - Continued Governmental Activities - Continued Governmental capital asset activity for the year was as follows: Beginning Ending Balances Increases Decreases Balances Nondepreciable/Nonamortizable Capital Assets Land $ 7,675,520 — — 7,675,520 Land Right of Way 21,282,162 — — 21,282,162 Permanent Easement 77,010 — — 77,010 Construction in Progress 9,808,706 17,217,332 17,044,686 9,981,352 38,843,398 17,217,332 17,044,686 39,016,044 Depreciable/Amortizable Capital Assets Land Improvements 239,726 — — 239,726 Buildings and Improvements 27,939,438 — — 27,939,438 Vehicles 5,228,066 377,630 109,202 5,496,494 Equipment 4,266,220 133,764 — 4,399,984 Bridges 382,199 — — 382,199 Storm Sewers 25,866,118 — — 25,866,118 Streets 102,948,750 14,039,196 1,322,421 115,665,525 Other 20,000 — — 20,000 Lease Assets - Equipment 208,870 — — 208,870 Subscription Assets - Software 418,073 — — 418,073 167,517,460 14,550,590 1,431,623 180,636,427 Less Accumulated Depreciation/Amortization Land Improvements 89,572 11,986 — 101,558 Buildings and Improvements 10,976,994 637,863 — 11,614,857 Vehicles 3,803,717 390,934 107,720 4,086,931 Equipment 2,753,620 226,505 — 2,980,125 Bridges 297,266 6,370 — 303,636 Storm Sewers 11,265,478 515,336 — 11,780,814 Streets 46,917,235 2,569,662 1,265,394 48,221,503 Other 20,000 — — 20,000 Lease Assets - Equipment 49,483 41,784 — 91,267 Subscription Assets - Software 114,373 114,373 — 228,746 76,287,738 4,514,813 1,373,114 79,429,437 Total Net Depreciable/Amortizable Capital Assets 91,229,722 10,035,777 58,509 101,206,990 Total Net Capital Assets 130,073,120 27,253,109 17,103,195 140,223,034 68 Page 105 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 3 - DETAIL NOTES ON ALL FUNDS - Continued CAPITAL ASSETS - Continued Business-Type Activities Business-type capital asset activity for the year was as follows: Beginning Ending Balances Increases Decreases Balances Nondepreciable Capital Assets Land $ 15,767,399 — — 15,767,399 Construction in Progress 3,467,832 7,663,706 4,306,753 6,824,785 19,235,231 7,663,706 4,306,753 22,592,184 Depreciable/Amortizable Capital Assets Land Improvements 9,138,970 — — 9,138,970 Buildings 26,154,790 2,486,950 — 28,641,740 Machinery and Equipment 2,599,167 315,372 26,968 2,887,571 Vehicles 137,892 — — 137,892 Water and Sanitary Sewer System 86,723,251 4,051,391 — 90,774,642 Lease Assets - Equipment 110,796 — 110,796 — Subscription Assets - Software 124,299 — — 124,299 124,989,165 6,853,713 137,764 131,705,114 Less Accumulated Depreciation/Amortization Land Improvements 5,949,950 208,491 — 6,158,441 Buildings 5,104,315 690,444 — 5,794,759 Vehicles 127,018 2,717 — 129,735 Machinery and Equipment 1,440,967 218,215 26,968 1,632,214 Water and Sanitary Sewer System 44,046,065 2,126,803 — 46,172,868 Lease Assets - Equipment 38,787 — 38,787 — Subscription Assets - Software 31,075 31,075 — 62,150 56,738,177 3,277,745 65,755 59,950,167 Total Net Depreciable/Amortizable Capital Assets 68,250,988 3,575,968 72,009 71,754,947 Total Net Capital Assets 87,486,219 11,239,674 4,378,762 94,347,131 Depreciation/amortization expense was charged to business-type activities as follows: Water and Sanitary Sewer $ 2,226,727 Village Links/Reserve 22 486,753 Parking 556,945 Residential Solid Waste 7,320 3,277,745 69 Page 106 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 3 - DETAIL NOTES ON ALL FUNDS - Continued LONG-TERM DEBT General Obligation Bonds The Village issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. General obligation bonds have been issued for governmental and business-type activities. General obligation bonds are direct obligations and pledge the full faith and credit of the Village. General obligation bonds currently outstanding are as follows: Fund Debt Beginning Ending Issue Retired by Balances Issuances Retirements Balances General Obligation Bonds of 2015 ($13,435,000), due in annual installments of $345,000 to $920,000 plus interest at Debt 2.00% to 4.00% through January 1, 2032. Service $ 5,660,000 — 635,000 5,025,000 General Obligation Bonds of 2018 ($9,900,000), due in annual installments of $365,000 to $660,000 plus interest at Debt 3.00% to 3.50% through January 1, 2039. Service 7,960,000 — 425,000 7,535,000 General Obligation Bonds of 2020 ($9,475,000), due in annual installments of $340,000 to $600,000 plus interest at Debt 1.45% to 3.00% through January 1, 2040. Service 8,315,000 — 430,000 7,885,000 General Obligation Bonds of 2021A ($2,560,000), due in annual installments of Village $10,000 to $300,000 plus interest at 2.00% Links/ to 4.00% through January 1, 2033. Reserve 22 2,340,000 — 220,000 2,120,000 General Obligation Bonds of 2021B ($3,935,000), due in annual installments of $30,000 to $920,000 plus interest at 1.65% Debt to 2.60% through January 1, 2036. Service 3,830,000 — 35,000 3,795,000 General Obligation Bonds of 2024 ($6,270,000), due in annual installments of $195,000 to $460,000 plus interest at Water and 4.00% to 5.00% through January 1, 2044. Sewer — 6,270,000 315,000 5,955,000 28,105,000 6,270,000 2,060,000 32,315,000 70 Page 107 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 3 - DETAIL NOTES ON ALL FUNDS - Continued LONG-TERM DEBT - Continued Legal Debt Margin Article VII, Section 6(k) of the 1970 Illinois Constitution governs the computation of legal debt margin. “The General Assembly may limit by law the amount and require referendum approval of debt to the incurred by home rule municipalities, payable from ad valorem property tax receipts, only in excess of the following percentages of the assessed value of its taxable property…(2) if its population is more than 25,000 and less than 500,000 an aggregate of one percent: indebtedness which is outstanding on the effective date (July 1, 1971) of this constitution or which is thereafter approved by referendum…shall not be included in the foregoing percentage amounts.” To date the Illinois General Assembly has set no limits for home rule municipalities. The Village is a home rule municipality. Asset Retirement Obligation The Village has recognized an asset retirement obligation (ARO) and related deferred outflow of resources in connection with its obligation to seal and abandon various water wells, demolition of the Village’s water towers and seal of fuel island at the end of their estimated useful lives in accordance with federal, state, and/or local requirements. The ARO was measured using actual historical costs for similar abandonments, adjusted for inflation through the end of the year. The estimated remaining useful lives of the water wells are 28 years, the water towers are 21 years, and the fuel island is 9 years. Leases Payable The Village has the following leases outstanding at year end: Lease Start Date End Date Payments Interest Rate Body Cams March 1, 2022 March 1, 2026 $23,787 per Year 4.00% Tasers September 15, 2023 September 15, 2027 $9,199 per Year 4.00% Dash Cameras June 16, 2023 June 16, 2027 $13,932 per Year 4.00% The future principal and interest lease payments as of the year-end were as follows: Governmental Activities Total Fiscal Lease Year Principal Interest Payment 2025 $ 42,555 4,363 46,918 2026 44,258 2,660 46,918 2027 22,242 890 23,132 Totals 109,055 7,913 116,968 71 Page 108 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 3 - DETAIL NOTES ON ALL FUNDS - Continued LONG-TERM DEBT - Continued Subscriptions Payable The Village has the following subscriptions payable at year-end: Subscriptions Start Date End Date Payments Interest Rate OpenGov January 1, 2023 July 1, 2027 $62,990 per Year 3.68% Microsoft EA & Office 365 November 1, 2023 November 1, 2026 $47,150 per Year 3.68% Axon Tasers Software January 1, 2023 March 1, 2027 $17,758 per Year 3.68% Axon Dash Cams January 1, 2023 December 1, 2027 $15,701 per Year 3.68% Axon Tasers September 15, 2023 August 15, 2027 $6,528 per Year 3.68% The future principal and interest subscription payments as of the year-end were as follows: Fiscal Governmental Activities Business-Type Activities Year Principal Interest Principal Interest 2025 $ 114,534 7,145 32,074 2,468 2026 73,327 2,929 34,982 1,287 2027 6,296 232 — — Totals 194,157 10,306 67,056 3,755 Long-Term Liabilities Activity Changes in long-term liabilities during the fiscal year were as follows: For the governmental activities, payments on the compensated absences, the net pension liabilities, the total OPEB liability, the asset retirement obligation, and the leases payable are made by the General Fund. Payments on the subscription payable is being made by the General and Motor Fuel Tax Funds. Payments on general obligation bonds are liquidated by the Debt Service Fund. Internal service funds predominantly serve the governmental funds. Accordingly, long-term liabilities for them are included as part of the above totals for governmental activities. At year end, $47,244 of the Village's internal service fund’s compensated absences are included in the following amounts and is liquidated by the Equipment Services Fund. Additionally, for business-type activities, the compensated absences, the net pension liability, the total OPEB liability, and the asset retirement obligation are liquidated by the Water and Sanitary Sewer Fund and the Village Links/Reserve 22 Fund. The Water and Sanitary Sewer Fund and the Village Links/Reserve 22 Fund make payments on the general obligation bonds. The leases payable is being liquidated by the Village Links/Reserve 22 Fund. The subscription payable is being liquidated by the Water and Sanitary Sewer Fund. 72 Page 109 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 3 - DETAIL NOTES ON ALL FUNDS - Continued LONG-TERM DEBT - Continued Long-Term Liabilities Activity Changes in long-term liabilities during the fiscal year were as follows: Amounts Beginning Ending Due within Type of Debt Balances Additions Deductions Balances One Year Governmental Activities Compensated Absences General $ 799,463 229,820 114,910 914,373 678,385 Internal Service 40,074 14,340 7,170 47,244 34,960 Net Pension Liability - IMRF 253,897 22,552 — 276,449 — Net Pension Liability - Police 26,728,987 — 509,953 26,219,034 — Total OPEB Liability - RBP 1,871,172 — 239,104 1,632,068 82,802 Asset Retirement Obligations 134,000 — — 134,000 — General Obligation Bonds 25,765,000 — 1,525,000 24,240,000 1,575,000 Plus: Unamortized Premium 580,038 — 38,167 541,871 38,165 Leases Payable 149,974 — 40,919 109,055 42,555 Subscriptions Payable 301,689 — 107,532 194,157 114,534 56,624,294 266,712 2,582,755 54,308,251 2,566,401 Business-Type Activities Compensated Absences 274,615 103,388 51,693 326,310 246,344 Net Pension Liability - IMRF 136,299 31,064 — 167,363 — Total OPEB Liability - RBP 411,299 — 8,247 403,052 20,442 Asset Retirement Obligations 395,726 — — 395,726 — General Obligation Bonds 2,340,000 6,270,000 535,000 8,075,000 425,000 Plus: Unamortized Premium 252,500 381,145 47,112 586,533 44,425 Leases Payable 64,485 — 64,485 — — Subscriptions Payable 95,053 — 27,997 67,056 32,074 3,969,977 6,785,597 734,534 10,021,040 768,285 73 Page 110 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 3 - DETAIL NOTES ON ALL FUNDS - Continued LONG-TERM DEBT - Continued Debt Service Requirements to Maturity The annual debt service requirements to maturity, including principal and interest, are as follows: Governmental Activities Business-Type Activities General Obligation General Obligation Fiscal Bonds Bonds Year Principal Interest Principal Interest 2025 $ 1,575,000 664,998 425,000 354,124 2026 1,615,000 618,222 445,000 335,174 2027 1,665,000 570,244 465,000 315,326 2028 1,715,000 520,554 485,000 294,576 2029 1,765,000 467,582 510,000 272,924 2030 1,815,000 412,140 530,000 250,124 2031 1,875,000 360,588 550,000 229,226 2032 1,925,000 307,188 575,000 207,525 2033 1,970,000 262,288 290,000 187,776 2034 2,015,000 215,154 305,000 173,274 2035 2,070,000 165,196 320,000 158,024 2036 1,180,000 110,738 335,000 142,024 2037 1,210,000 79,324 350,000 125,274 2038 1,245,000 45,600 370,000 107,776 2039 600,000 10,800 390,000 89,274 2040 — — 405,000 69,774 2041 — — 425,000 53,576 2042 — — 440,000 36,578 2043 — — 460,000 18,976 Totals 24,240,000 4,810,616 8,075,000 3,421,325 74 Page 111 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 3 - DETAIL NOTES ON ALL FUNDS - Continued NET POSITION CLASSIFICATIONS Net investment in capital assets was comprised of the following as of December 31, 2024: Governmental Activities Capital Assets - Net of Accumulated Depreciation/Amortization $ 140,223,034 Less Capital Related Debt: General Obligation Bonds of 2015 (5,025,000) General Obligation Bonds of 2018 (7,535,000) General Obligation Bonds of 2020 (7,885,000) General Obligation Bonds of 2021B (3,795,000) Unamortized Premium (541,871) Leases Payable (109,055) Subscriptions Payable (194,157) Net Investment in Capital Assets 115,137,951 Business-Type Activities Capital Assets - Net of Accumulated Depreciation/Amortization 94,347,131 Plus: Unamortized Loss on Refunding 21,503 Less Capital Related Debt: General Obligation Bonds of 2021A (2,120,000) Unamortized Premium (586,533) Subscriptions Payable (67,056) Net Investment in Capital Assets 91,595,045 FUND BALANCE CLASSIFICATIONS In the governmental funds financial statements, the Village considers restricted amounts to have been spent when an expenditure is incurred for purposes for which both restricted and unrestricted fund balance is available. The Village first utilizes committed, then assigned and then unassigned fund balance when an expenditure is incurred for purposes for which all three unrestricted fund balances are available. Nonspendable Fund Balance. Consists of resources that cannot be spent because they are either: a) not in a spendable form; or b) legally or contractually required to be maintained intact. Restricted Fund Balance. Consists of resources that are restricted to specific purposes, that is, when constraints placed on the use of resources are either: a) externally imposed by creditors (such as through debt covenants), grantors, contributors, or laws or regulations of other governments; or b) imposed by law through constitutional provisions or enabling legislation. 75 Page 112 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 3 - DETAIL NOTES ON ALL FUNDS - Continued FUND BALANCE CLASSIFICATIONS - Continued Committed Fund Balance. Consists of resources constrained (issuance of an ordinance) to specific purposes by the government itself, using its highest level of decision-making authority, the Board of Trustees; to be reported as committed, amounts cannot be used for any other purpose unless the government takes the same highest-level action to remove or change the constraint. Assigned Fund Balance. Consists of amounts that are constrained by the Board of Trustees’ intent to be used for specific purposes but are neither restricted nor committed. Intent is expressed by a) the Board of Trustees itself or b) a body or official to which the Board of Trustees has delegated the authority to assign amounts to be used for specific purposes. The Village’s highest level of decision-making authority is the Board of Trustees, who is authorized to assign amounts to a specific purpose. Unassigned Fund Balance. Consists of residual net resources of a fund that has not been restricted, committed, or assigned within the General Fund and deficit fund balances of other governmental funds. Minimum Fund Balance Policy. The Village’s fund balance policy for the General Fund requires unassigned fund balance to be maintained at a minimum of 34% current year operating expenditures. Any fund balance in the General Fund in excess of the minimum can be assigned for other purposes. The following is a schedule of fund balance classifications for the governmental funds as of the date of this report: Special Capital Projects Revenue Facilities Central Debt Capital Maintenance General Business Service Projects Reserve Nonmajor Totals Fund Balances Nonspendable Prepaids $ 186,215 — — — — 15,747 201,962 Restricted Public Safety Police and Fire — — — — — 8,677,778 8,677,778 Highways and Streets — — — — — 4,913,950 4,913,950 Debt Service — — 36,320 — — — 36,320 Economic Development — 3,518,465 — — — 633,818 4,152,283 — 3,518,465 36,320 — — 14,225,546 17,780,331 Committed Purchase Contracts 315,407 50,946 — 3,161,401 — 780,897 4,308,651 Assigned Capital Projects — — — 953,172 1,406,559 3,237,461 5,597,192 Unassigned 13,286,373 — — — — — 13,286,373 Total Fund Balances 13,787,995 3,569,411 36,320 4,114,573 1,406,559 18,259,651 41,174,509 76 Page 113 of 268  VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 3 - DETAIL NOTES ON ALL FUNDS - Continued FUND BALANCE CLASSIFICATIONS - Continued The following is a schedule of committed fund balance classifications for the governmental funds as of the date of this report: Special Revenue Central Capital Projects Business Facilities District Debt Capital Maintenance General TIF Service Projects Reserve Nonmajor Totals Committed Fund Balances Purchase Contracts Redevelopment Awards $ — 46,250 — — — — 46,250 Road Improvements 82,087 — — 738,044 — 603,974 1,424,105 CBD Streetscape — — — 2,068,996 — — 2,068,996 Miscellaneous Projects 233,320 4,696 — 354,361 — 176,923 769,300 Total Committed Fund Balances 315,407 50,946 — 3,161,401 — 780,897 4,308,651 NOTE 4 - OTHER INFORMATION RISK MANAGEMENT Municipal Insurance Cooperative Association Effective January 1, 2002, the Village joined together with other local governments in Illinois in the Municipal Insurance Cooperative Association (MICA). MICA is a public entity risk pool operating a common risk management and insurance program for its member governments. The Village pays an annual premium to MICA based upon the Village’s prior experience within the pool to cover potential claims to the total loss aggregate for all members. In addition, the Village pays for the first $5,000 for property, liability and crime claims. Amounts paid into the pool in excess of claims for any overage year may be rebated back to members in subsequent periods. The Village is not aware of any additional premiums owed to MICA for the current of prior claim years. The Village participated in the Intergovernmental Risk Management Agency (IRMA) through December 31, 2001, when it joined MICA. The Village’s remaining reserves in IRMA have been recorded as an asset in the Insurance Fund for the amount to be received from IRMA. 77 Page 114 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 4 - OTHER INFORMATION - Continued CONTINGENT LIABILITIES Litigation From time to time, the Village is party to various pending claims and legal proceedings with respect to employment, civil rights, property taxes and other matters. Although the outcome of such matters cannot be forecasted with certainty, it is the opinion of management and the Village attorney that the likelihood is remote that any such claims or proceedings will have a material adverse effect on the Village's financial position or results of operations. Grants Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies, principally the federal government. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures which may be disallowed by the grantor cannot be determined at this time although the Village expects such amounts, if any, to be immaterial. Economic Development Incentive The Village has entered into an agreement with a car dealer to provide economic incentives over a fifteen-year period. The incentive is made in one annual payment based on the sales tax and home rule sales tax produced by the dealership during the year. The Village retains all sales up to the designated base amount of $224,400 and then remits amounts above this base, at 80% in years 1 through 10 and 75% in years 11 through 15, to the dealership up to the maximum amount. Payments began in 2013, and the maximum incentive of $850,000 was reached in 2024 and thus no future payments will be made pursuant to this agreement. The Village has also entered into an agreement with a developer to provide economic incentives over a ten-year period. The incentive is paid in quarterly installments based on the sales tax and home rule sales tax produced by the property which was constructed by the developer. The Village retains all sales tax up to 10% of the sales tax generated quarterly. The remaining 90% of sales tax generated quarterly is split 60% and 40% to the Village and developer, respectively. The maximum incentive under this agreement is $1,000,000. Payments began in 2014. Additionally, as part of the planned project, the Village agrees to reimburse the developer in an amount not to exceed $793,000 for certain public and right-of-way improvements. The Village has also entered into an agreement with a local company to provide economic incentives over an eight-year period. The incentive is made in one annual payment based on the sales tax produced by the company. The Village retains all sales tax up to the designated base of $700,000 and then remits 50% of the amount above the base over the eight-year period. Payments began in 2016, and the final payment under the terms of the agreement was made in 2024 with no future liability to the Village. The Village has also entered into an agreement with a developer to provide economic incentives over a ten-year period. The incentive is made in annual payments based on the sales tax and home rule sales tax produced by the underlying development. In the current agreement the Village retains all sales tax up to the annual designated base amount of $10,000 and then remits amounts above this base at 75% to the developer up to the maximum amount or over a ten-year period ending January 1, 2029, whichever occurs first. The maximum incentive under the revised agreement is $100,000, including any payments made under the initial agreement. 78 Page 115 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 4 - OTHER INFORMATION - Continued CONTINGENT LIABILITIES - Continued Economic Development Incentive - Continued The Village has also entered into an agreement with a developer to provide economic incentives over a ten-year period. The incentive is made in annual payments based on the sales tax and home rule sales tax produced by the underlying development. The Village retains all sales tax up to the annual designated base amount of $75,000 and then remits amounts above this base at 50% to the developer up to the maximum amount or over the ten-year period, whichever occurs first. The maximum incentive under this agreement is $1,250,000. Payments began in 2019. Additionally, as part of the planned project, the Village has agreed to contribute up to $500,000 for certain access and intersection improvements into the development. As of December 31, 2024, a liability of $94,924 has been accrued and $199,536 payments have been made under these agreements. Future contingent incentives of approximately $1,625,456 in sales tax may be rebated if certain criteria are met. Pledged Revenue The Village has entered into an agreement with a neighboring municipality to share the sales tax and home rule sales tax produced by a development. Through February 28, 2032, the Village will remit to the neighboring municipality 45% of both the sales tax and home rule sales tax generated by the development. Thereafter, the Village will remit to the neighboring municipality 45% of only the sales tax generated by the development. COMMITMENTS DuPage Water Commission The Village is a customer of the DuPage Water Commission, and has executed a Water Supply Contract with the Commission for a term ending in 2064. The Contract provides that the Village pay its proportionate share of “fixed costs” (debt service and capital costs) to the Commission, such obligation being unconditional and irrevocable whether or not water is ever delivered. These costs are expenses along with the other “operation and maintenance” charges from the Commission. The current allocation percentage is 0%. In future years, this allocation percentage will be subject to change. Estimates for the remaining years of the contract are not currently available. The Village’s agreement with the DuPage Water Commission provides that each member is liable for its proportionate share of any costs arising from defaults in payment obligations by other members. Historically, the DuPage Water Commission has reduced the customers’ proportionate share by 50%; however, for December 31, 2024, 100% of the fixed cost was reduced. Glenbard Wastewater Authority The Village’s contract with the Glenbard Wastewater Authority (GWA) provides that each member is liable for its proportionate share of any costs arising from defaults in payment obligations by other members. 79 Page 116 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 4 - OTHER INFORMATION - Continued JOINT VENTURES The Glenbard Wastewater Authority (Authority) was created and established by an agreement dated November 28, 1977 between the Villages of Lombard and Glen Ellyn for the purpose of jointly treating and processing wastewater. The wastewater is treated in two plants, known as the Glenbard Wastewater Plant and the Lombard Treatment Facility. Construction of the facilities was financed by monies appropriated by the Villages and by grants from the U.S. Environmental Protection Agency. The Village accounts for its investment in the Authority on the equity method. In accordance with the 1977 agreement, the Village of Glen Ellyn is responsible for the operation of the wastewater treatment facilities. The Village purchases the supplies and materials and furnishes personnel necessary for the operations of the wastewater treatment facilities. The Village is reimbursed for such expenses and receives a service charge (overhead fee) pursuant to the agreement. The two members of the Authority and their percentage shares as of December 31, 2024 are as follows: Village of Lombard 58.90% Village of Glen Ellyn 41.10% 100.00% The Authority is governed by the Village President and six trustees from each municipality. The Board of the Authority makes all decisions relevant to the operations of the system. The Village’s share of the capital assets is $20,481,057. The Village has allocated its share of operating expenses based upon metered wastewater flows, which approximated 41.10% for the year ended December 31, 2024. Separate financial statements for the Authority may be obtained at 945 Bemis Rd, Glen Ellyn, IL 60137. 80 Page 117 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 4 - OTHER INFORMATION - Continued JOINT VENTURES - Continued Summary of Financial Position as of December 31, 2024 is as follows: Assets/Deferred Outflows Liabilities/Deferred Inflows and Net Position Current Assets $ 809,678 Current Liabilities $ 2,528,342 Restricted Assets 15,951,290 Long-Term Liabilities 20,559,862 Capital Assets - Net 49,835,490 Total Liabilities 23,088,204 Total Assets 66,596,458 Deferred Inflows 306,203 Deferred Outflows 245,439 Total Liabilities/ Deferred Inflows 23,394,407 Total Assets/ Deferred Outflows 66,841,897 Net Position 43,447,490 Total Liabilities and Net Position 66,841,897 Summary of Results of Operations as of December 31, 2024: Operating Revenues Charges to the Villages $ 8,588,471 Operating Expenses Personnel Services 1,712,304 IMRF Pension Expense 386,633 Contractual Services 2,441,194 Commodities and Maintenance 1,440,730 Depreciation 3,312,566 Total Operating Expenses 9,293,427 Operating Income (704,956) Nonoperating Revenues (Expenses) 923,031 Change in Net Position 218,075 Net Position - Beginning 43,229,415 Net Position - Ending 43,447,490 81 Page 118 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 4 - OTHER INFORMATION - Continued EMPLOYEE RETIREMENT SYSTEM - DEFINED BENEFIT PENSION PLANS The Village contributes to two defined benefit pension plans, the Illinois Municipal Retirement Fund (IMRF), a defined benefit agent multiple-employer public employee retirement system and the Police Pension Plan which is a single-employer pension plan. Publicly available financial reports that include financial statements and required supplementary information (RSI) for the Police Pension Plan may be obtained by writing to the Village at 535 Duane Street, Glen Ellyn, Illinois 60137. IMRF issues a publicly available financial report that includes financial statements and required supplementary information for the plan as a whole, but not by individual employer. That report may be obtained online at www.imrf.org. The benefits, benefit levels, employee contributions, and employer contributions are governed by Illinois Compiled Statutes (ILCS) and can only be amended by the Illinois General Assembly. The aggregate amounts recognized for the pension plans are: Pension Net Pension Deferred Deferred Expense Liability Outflows Inflows IMRF $ 2,184,502 443,812 1,649,773 18,899 Police Pension 3,477,129 26,219,034 4,220,352 729,359 5,661,631 26,662,846 5,870,125 748,258 Illinois Municipal Retirement Fund (IMRF) Plan Descriptions Plan Administration. All employees (other than those covered by the Police Pension Plan) hired in positions that meet or exceed the prescribed annual hourly standard must be enrolled in IMRF as participating members. The plan is accounted for on the economic resources measurement focus and the accrual basis of accounting. Employer and employee contributions are recognized when earned in the year that the contributions are required, benefits and refunds are recognized as an expense and liability when due and payable. Benefits Provided. IMRF has three benefit plans. The vast majority of IMRF members participate in the Regular Plan (RP). The Sheriff’s Law Enforcement Personnel (SLEP) plan is for sheriffs, deputy sheriffs, and selected police chiefs. Counties could adopt the Elected County Official (ECO) plan for officials elected prior to August 8, 2011 (the ECO plan was closed to new participants after that date). IMRF provides two tiers of pension benefits. Employees hired before January 1, 2011, are eligible for Tier 1 benefits. Tier 1 employees are vested for pension benefits when they have at least eight years of qualifying service credit. Tier 1 employees who retire at age 55 (at reduced benefits) or after age 60 (at full benefits) with eight years of service are entitled to an annual retirement benefit, payable monthly for life, in an amount equal to 1-2/3% of the final rate of earnings for the first 15 years of service credit, plus 2% for each year of service credit after 15 years to a maximum of 75% of their final rate of earnings. Final rate of earnings is the highest total earnings during any consecutive 48 months within the last 10 years of service, divided by 48. Under Tier 1, the pension is increased by 3% of the original amount on January 1 every year after retirement. 82 Page 119 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 4 - OTHER INFORMATION - Continued EMPLOYEE RETIREMENT SYSTEM - DEFINED BENEFIT PENSION PLANS - Continued Illinois Municipal Retirement Fund (IMRF) - Continued Plan Descriptions - Continued Benefits Provided - Continued. Employees hired on or after January 1, 2011, are eligible for Tier 2 benefits. For Tier 2 employees, pension benefits vest after ten years of service. Participating employees who retire at age 62 (at reduced benefits) or after age 67 (at full benefits) with ten years of service are entitled to an annual retirement benefit, payable monthly for life, in an amount equal to 1-2/3% of the final rate of earnings for the first 15 years of service credit, plus 2% for each year of service credit after 15 years to a maximum of 75% of their final rate of earnings. Final rate of earnings is the highest total earnings during any 96 consecutive months within the last 10 years of service, divided by 96. Under Tier 2, the pension is increased on January 1 every year after retirement, upon reaching age 67, by the lesser of: • 3% of the original pension amount, or • 1/2 of the increase in the Consumer Price Index of the original pension amount. Plan Membership. As of December 31, 2024, the measurement date, the following employees were covered by the benefit terms: Inactive Plan Members Currently Receiving Benefits 289 Inactive Plan Members Entitled to but not yet Receiving Benefits 215 Active Plan Members 202 Total 706 The total membership includes the Village, Glen Ellyn Public Library and Glenbard Wastewater Authority. A detailed breakdown of IMRF membership for the Village is unavailable. The above numbers include all members. Contributions. As set by statute, the Village’s Regular Plan Members are required to contribute 4.50% of their annual covered salary. The statute requires employers to contribute the amount necessary, in addition to member contributions, to finance the retirement coverage of its own employees. For the year-ended December 31, 2024, the Village’s contribution was 4.54% of covered payroll. Net Pension Liability. The Village’s net pension liability was measured as of December 31, 2024. The total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. 83 Page 120 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 4 - OTHER INFORMATION - Continued EMPLOYEE RETIREMENT SYSTEM - DEFINED BENEFIT PENSION PLANS - Continued Illinois Municipal Retirement Fund (IMRF) - Continued Plan Descriptions - Continued Actuarial Assumptions. The total pension liability was determined by an actuarial valuation performed, as of December 31, 2024, using the following actuarial methods and assumptions: Actuarial Cost Method Entry Age Normal Asset Valuation Method Fair Value Actuarial Assumptions Interest Rate 7.25% Salary Increases 2.85% to 13.75% Cost of Living Adjustments 2.75% Inflation 2.25% For non-disabled retirees, the Pub-2010, Amount-Weighted, below-median income, General, Retiree, Male (adjusted 108.0%) and Female (adjusted 106.4%) tables, and future mortality improvements projected using scale MP-2021. For disabled retirees, the Pub-2010, Amount-Weighted, below-median income, General, Disabled Retiree, Male and Female (both unadjusted) tables, and future mortality improvements projected using scale MP-2021. For active members, the Pub-2010, Amount-Weighted, below-median income, General, Employee, Male and Female (both unadjusted) tables, and future mortality improvements projected using scale MP-2021. 84 Page 121 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 4 - OTHER INFORMATION - Continued EMPLOYEE RETIREMENT SYSTEM - DEFINED BENEFIT PENSION PLANS - Continued Illinois Municipal Retirement Fund (IMRF) - Continued Plan Descriptions - Continued The long-term expected rate of return on pension plan investments was determined using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense, and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return to the target asset allocation percentage and adding expected inflation. The target allocation and best estimates of geometric real rates of return for each major asset class are summarized in the following table: Long-Term Expected Real Asset Class Target Rate of Return Fixed Income 24.50% 5.20% Domestic Equities 34.50% 4.35% International Equities 18.00% 5.40% Real Estate 10.50% 6.40% Blended 11.50% 4.85% - 6.25% Cash and Cash Equivalents 1.00% 3.60% Discount Rate The discount rate used to measure the total pension liability was 7.25%, the same as the prior valuation. The projection of cash flows used to determine the discount rate assumed that member contributions will be made at the current contribution rate and that Village contributions will be made at rates equal to the difference between the actuarially determined contribution rates and the member rate. Based on those assumptions, the Fund’s fiduciary net position was projected to be available to make all project future benefit payments of current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all period of projected benefit payments to determine the total pension liability. Discount Rate Sensitivity The following is a sensitivity analysis of the net pension liability/(asset) to changes in the discount rate. The table below presents the net pension liability/(asset) of the Village calculated using the discount rate as well as what the Village’s net pension liability/(asset) would be if it were calculated using a discount rate that is one percentage point lower or one percentage point higher than the current rate: Current 1% Decrease Discount Rate 1% Increase (6.25%) (7.25%) (8.25%) Net Pension Liability/(Asset) $ 6,647,522 443,812 (4,632,534) 85 Page 122 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 4 - OTHER INFORMATION - Continued EMPLOYEE RETIREMENT SYSTEM - DEFINED BENEFIT PENSION PLANS - Continued Illinois Municipal Retirement Fund (IMRF) - Continued Changes in the Net Pension Liability Total Pension Plan Fiduciary Net Pension Liability Net Position Liability (A) (B) (A) - (B) Balances at December 31, 2023 $ 52,799,463 52,409,267 390,196 Changes for the Year Service Cost 835,355 — 835,355 Interest 3,925,443 — 3,925,443 Differences Between Expected and Actual Experience 356,934 — 356,934 Change of Assumptions — — — Change in Benefit Terms — — — Contributions - Employer — 453,962 (453,962) Contributions - Members — 448,869 (448,869) Net Investment Income — 5,447,121 (5,447,121) Benefit Payments, Including Refunds of Member Contributions (3,192,732) (3,192,732) — Other (Net Transfer) — (1,285,836) 1,285,836 Net Changes 1,925,000 1,871,384 53,616 Balances at December 31, 2024 54,724,463 54,280,651 443,812 86 Page 123 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 4 - OTHER INFORMATION - Continued EMPLOYEE RETIREMENT SYSTEM - DEFINED BENEFIT PENSION PLANS - Continued Illinois Municipal Retirement Fund (IMRF) - Continued Pension Expense, Deferred Outflows of Resources, and Deferred Inflows of Resources Related to Pensions For the year ended December 31, 2024, the Village recognized pension expense of $2,184,502. At December 31, 2024, the Village reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Deferred Outflows of (Inflows) of Resources Resources Totals Difference Between Expected and Actual Experience $ 387,285 — 387,285 Change in Assumptions — (18,899) (18,899) Net Difference Between Projected and Actual 1,262,488 — 1,262,488 Total Deferred Amounts Related to IMRF 1,649,773 (18,899) 1,630,874 Amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense in future periods as follows: Net Deferred Outflows/ Fiscal (Inflows) Year of Resources 2025 $ 911,136 2026 1,766,400 2027 (724,728) 2028 (321,934) 2029 — Thereafter — Totals 1,630,874 87 Page 124 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 4 - OTHER INFORMATION - Continued EMPLOYEE RETIREMENT SYSTEM - DEFINED BENEFIT PENSION PLANS - Continued Police Pension Plan Plan Descriptions Plan Administration. The Police Pension Plan is a single-employer defined benefit pension plan that covers all sworn police personnel. The defined benefits and employee and minimum employer contribution levels are governed by Illinois Compiled Statutes (40 ILCS 5/3-1) and may be amended only by the Illinois legislature. The Village accounts for the Fund as a pension trust fund. The Fund is governed by a five-member pension board. Two members of the Board are appointed by the Village President, one member is elected by pension beneficiaries and two members are elected by active police employees. Plan Membership. At December 31, 2024, the measurement date, membership consisted of the following: Inactive Plan Members Currently Receiving Benefits 38 Inactive Plan Members Entitled to but not yet Receiving Benefits 11 Active Plan Members 45 Total 94 Benefits Provided. The following is a summary of the Police Pension Plan as provided for in Illinois State Statutes. The Police Pension Plan provides retirement benefits through two tiers of benefits as well as death and disability benefits. Covered employees hired before January 1, 2011 (Tier 1), attaining the age of 50 or older with 20 or more years of creditable service are entitled to receive an annual retirement benefit of ½ of the salary attached to the rank held on the last day of service, or for one year prior to the last day, whichever is greater. The annual benefit shall be increased by 2.5 percent of such salary for each additional year of service over 20 years up to 30 years, to a maximum of 75 percent of such salary. Employees with at least eight years but less than 20 years of credited service may retire at or after age 60 and receive a reduced benefit. The monthly benefit of a police officer who retired with 20 or more years of service after January 1, 1977 shall be increased annually, following the first anniversary date of retirement and be paid upon reaching the age of at least 55 years, by 3 percent of the original pension and 3 percent compounded annually thereafter. 88 Page 125 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 4 - OTHER INFORMATION - Continued EMPLOYEE RETIREMENT SYSTEM - DEFINED BENEFIT PENSION PLANS - Continued Police Pension Plan - Continued Plan Descriptions - Continued Benefits Provided - Continued. Covered employees hired on or after January 1, 2011 (Tier 2), attaining the age of 55 or older with 10 or more years of creditable service are entitled to receive an annual retirement benefit equal to the average monthly salary obtained by dividing the total salary of the police officer during the 48 consecutive months of service within the last 60 months of service in which the total salary was the highest by the number of months of service in that period. Police officer salary for the pension purposes is capped at $106,800, plus the lesser of ½ of the annual change in the Consumer Price Index or 3 percent compounded. The annual benefit shall be increased by 2.5 percent of such a salary for each additional year of service over 20 years up to 30 years to a maximum of 75 percent of such salary. Employees with at least 10 years may retire at or after age 50 and receive a reduced benefit (i.e., ½ percent for each month under 55). The monthly benefit of a Tier 2 police officer shall be increased annually at age 60 on the January 1st after the police officer retires, or the first anniversary of the pension starting date, whichever is later. Noncompounding increases occur annually, each January thereafter. The increase is the lesser of 3 percent of ½ of the change in the Consumer Price Index for the proceeding calendar year. Contributions. Covered employees are required to contribute 9.91% of their base salary to the Police Pension Plan. If an employee leaves covered employment with less than 20 years of service, accumulated employee contributions may be refunded without accumulated interest. The Village is required to contribute the remaining amounts necessary to finance the plan and the administrative costs as actuarially determined by an enrolled actuary. However, effective January 1, 2011, ILCS requires the Village to contribute a minimum amount annually calculated using the projected unit credit actuarial cost method that will result in the funding of 90% of the past service cost by the year 2040. For the year-ended December 31, 2024, the Village’s contribution was 43.08% of covered payroll. Concentrations. At year end, the Pension Plan does not have any investments over 5 percent of net plan position available for retirement benefits (other than investments issued or explicitly guaranteed by the U.S. government and investments in mutual funds, external investment pools, and other pooled investments). 89 Page 126 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 4 - OTHER INFORMATION - Continued EMPLOYEE RETIREMENT SYSTEM - DEFINED BENEFIT PENSION PLANS - Continued Police Pension Plan - Continued Actuarial Assumptions The total pension liability was determined by an actuarial valuation performed, as of December 31, 2024, using the following actuarial methods and assumptions: Actuarial Cost Method Entry Age Normal Asset Valuation Method Market Valuation of Assets Actuarial Assumptions Interest Rate 6.50% Salary Increases Service Based Cost of Living Adjustments 3.00% Inflation 2.50% Mortality rates were based on PubS-2010 Employee mortality, projected 5 years past the valuation date with Scale MP-2021. 10% of active deaths are assumed to be in the line of duty. Discount Rate The discount rate used to measure the total pension liability was 6.50%, the same as the prior valuation. The projection of cash flows used to determine the discount rate assumed that member contributions will be made at the current contribution rate and that Village contributions will be made at rates equal to the difference between the actuarially determined contribution rates and the member rate. Based on those assumptions, the Fund’s fiduciary net position was projected to be available to make all project future benefit payments of current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all period of projected benefit payments to determine the total pension liability. Discount Rate Sensitivity The following is a sensitive analysis of the net pension liability to changes in the discount rate. The table below presents the pension liability of the Village calculated using the discount rate as well as what the Village’s net pension liability would be if it were calculated using a discount rate that is one percentage point lower or one percentage point higher than the current rate: Current 1% Decrease Discount Rate 1% Increase (5.50%) (6.50%) (7.50%) Net Pension Liability $ 36,388,493 26,219,034 17,997,202 90 Page 127 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 4 - OTHER INFORMATION - Continued EMPLOYEE RETIREMENT SYSTEM - DEFINED BENEFIT PENSION PLANS - Continued Police Pension Plan - Continued Changes in the Net Pension Liability Total Pension Plan Fiduciary Net Pension Liability Net Position Liability (A) (B) (A) - (B) Balances at December 31, 2023 $ 64,998,211 38,269,224 26,728,987 Changes for the Year: Service Cost 1,130,581 — 1,130,581 Interest on the Total Pension Liability 4,198,488 — 4,198,488 Changes of Benefit Terms — — — Difference Between Expected and Actual Experience of the Total Pension Liability 385,631 — 385,631 Changes of Assumptions — — — Contributions - Employer — 2,152,200 (2,152,200) Contributions - Employees — 495,063 (495,063) Other 63,745 63,745 — Net Investment Income — 3,639,561 (3,639,561) Benefit Payments, Including Refunds of Employee Contributions (3,073,353) (3,073,353) — Other (Net Transfer) — (62,171) 62,171 Net Changes 2,705,092 3,215,045 (509,953) Balances at December 31, 2024 67,703,303 41,484,269 26,219,034 91 Page 128 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 4 - OTHER INFORMATION - Continued EMPLOYEE RETIREMENT SYSTEM - DEFINED BENEFIT PENSION PLANS - Continued Police Pension Plan - Continued Pension Expense, Deferred Outflows of Resources, and Deferred Inflows of Resources Related to Pensions For the year ended December 31, 2024, the Village recognized pension expense of $3,477,129. At December 31, 2024, the Village reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Deferred Outflows of Inflows of Resources Resources Totals Difference Between Expected and Actual Experience $ 3,970,901 (606,017) 3,364,884 Change in Assumptions — (123,342) (123,342) Net Difference Between Projected and Actual Earnings on Pension Plan Investments 249,451 — 249,451 Total Deferred Amounts Related to Police Pension 4,220,352 (729,359) 3,490,993 Amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense in future periods as follows: Net Deferred Fiscal Outflows Year of Resources 2025 $ 949,566 2026 1,471,271 2027 14,086 2028 333,565 2029 667,415 Thereafter 55,090 Total 3,490,993 92 Page 129 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 4 - OTHER INFORMATION - Continued OTHER POST-EMPLOYMENT BENEFITS General Information about the OPEB Plan Plan Description. The Village’s defined benefit OPEB plan, Village of Glen Ellyn Retiree Benefits Plan (RBP), provides OPEB for all permanent full-time general and public safety employees of the Village. RBP is a single- employer defined benefit OPEB plan administered by the Village. Article 11 of the State Compiled Statutes grants the authority to establish and amend the benefit terms and financing requirements to the Village Board. No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement 75. Benefits Provided. RBP provides healthcare for active employees. Spouses and dependents of eligible retirees are also eligible for medical coverage. All employees of the Village are eligible to receive post-employment health care benefits. Coverage for retirees and their spouses and dependents is provided for life. Plan Membership. As of December 31, 2024, the measurement date, the following employees were covered by the benefit terms: Inactive Plan Members Currently Receiving Benefits 10 Inactive Plan Members Entitled to but not yet Receiving Benefits — Active Plan Members 186 Total 196 Total OPEB Liability The Village’s total OPEB liability was measured as of December 31, 2024, and was determined by an actuarial valuation as of as of that date. Actuarial Assumptions and Other Inputs. The total OPEB liability in the December 31, 2024 actuarial valuation was determined using the following actuarial assumptions and other inputs, applied to all periods included in the measurement, unless otherwise specified: Inflation 2.50% Salary Increases 4.00% Discount Rate 4.28% 8.50% in fiscal 2024, decreasing to an ultimate trend rate Healthcare Cost Trend Rates of 4.00% in 2075 Retirees' Share of Benefit-Related Costs 100% of the Blended Cost of Coverage The discount rate was based on PubG-2010, Amount-Weighted, below-median income, General Employee, Male and Femaile tables, with future mortality improvements projected using scale MP-2021. Mortality rates were based on the RP-2000 blue collar table, projected generationally with scale MP-2017. 93 Page 130 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 4 - OTHER INFORMATION - Continued OTHER POST-EMPLOYMENT BENEFITS - Continued Change in the Total OPEB Liability Total OPEB Liability Balance at December 31, 2023 $ 2,282,471 Changes for the Year: Service Cost 101,235 Interest on the Total OPEB Liability 95,150 Changes of Benefit Terms — Difference Between Expected and Actual Experience 91,978 Changes of Assumptions or Other Inputs (432,470) Benefit Payments (103,244) Net Changes (247,351) Balance at December 31, 2024 2,035,120 Sensitivity of the Total OPEB Liability to Changes in the Discount Rate The discount rate used to measure the total pension liability was 4.28%, while the prior valuation used 4.00%. The following presents the total OPEB liability, calculated using the discount rate, as well as what the total OPEB liability would be if it were calculated using a discount rate that is one percentage point lower or one percentage point higher: Current 1% Decrease Discount Rate 1% Increase (3.28%) (4.28%) (5.28%) Total OPEB Liability $ 2,349,998 2,035,120 1,786,973 Sensitivity of the Total OPEB Liability to Changes in the Healthcare Cost Trend Rates The following presents the total OPEB liability, calculated using a variable Healthcare Trend Rate, as well as what the total OPEB liability would be if it were calculated using a Healthcare Trend Rate that is one percentage point lower or one percentage point higher: Healthcare Cost Trend 1% Decrease Rates 1% Increase (Varies) (Varies) (Varies) Total OPEB Liability $ 1,740,691 2,035,120 2,414,232 94 Page 131 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Notes to the Financial Statements December 31, 2024 NOTE 4 - OTHER INFORMATION - Continued OTHER POST-EMPLOYMENT BENEFITS - Continued OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB For the year ended December 31, 2024, the Village recognized OPEB expense of $190,214. At December 31, 2024, the Village reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources: Deferred Deferred Outflows of Inflows of Resources Resources Totals Difference Between Expected and Actual Experience $ 113,435 (83,114) 30,321 Change in Assumptions 422,742 (977,754) (555,012) Net Difference Between Projected and Actual Earnings on Pension Plan Investments — — — Total Deferred Amounts Related to OPEB 536,177 (1,060,868) (524,691) Amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows: Net Deferred Fiscal (Inflows) Year of Resources 2025 $ (56,043) 2026 (56,043) 2027 (56,044) 2028 (83,759) 2029 (83,764) Thereafter (189,038) Total (524,691) SUBSEQUENT EVENT Subsequent to year end, in June 2025, the Village closed on the sale of property to the Glen Ellyn Park District for $1.65 million. This sale was made pursuant to an Intergovernmental Purchase and Sale Agreement entered into by the Village and the Park District in May 2023 and later amended in March 2025. The agreement calls for the site to be used as a park and event space and for the Village to contribute funds for the construction and maintenance of the park for a period of 12 years. 95 Page 132 of 268  REQUIRED SUPPLEMENTARY INFORMATION Required supplementary information includes financial information and disclosures that are required by the GASB but are not considered a part of the basic financial statements. Such information includes: • Schedule Employer Contributions - Last Ten Fiscal Years Illinois Municipal Retirement Fund Police Pension Fund • Schedule of Changes in the Employer's Net Pension Liability/(Asset) - Last Ten Fiscal Years Illinois Municipal Retirement Fund Police Pension Fund • Schedule of Investment Returns - Last Ten Fiscal Years Police Pension Fund • Schedule of Changes in the Employer's Total OPEB Liability Retiree Benefit Plan • Budgetary Comparison Schedule General Fund Central Business District TIF - Special Revenue Fund Notes to the Required Supplementary Information Budgetary Information - Budgets are adopted on a basis consistent with generally accepted accounting principles. 96 Page 133 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Illinois Municipal Retirement Fund Schedule of Employer Contributions - Last Ten Fiscal Years December 31, 2024 Contributions in Relation to Actuarially the Actuarially Contribution Contributions as Fiscal Determined Determined Excess/ Covered a Percentage of Year Contribution Contribution (Deficiency) Payroll Covered Payroll 2015 $ 581,765 $ 581,765 $ — $ 4,377,961 13.29% 2016 649,408 646,828 (2,580) 6,001,915 10.78% 2017 642,840 649,360 6,520 6,217,025 10.44% 2018 636,883 636,883 — 6,443,263 9.88% 2019 499,401 499,401 — 6,984,610 7.15% 2020 671,346 671,346 — 6,927,420 9.69% 2021 651,566 651,566 — 7,304,541 8.92% 2022 540,368 540,368 — 7,888,585 6.85% 2023 372,545 376,955 4,410 8,807,223 4.28% 2024 453,962 453,962 — 9,999,170 4.54% Notes to the Required Supplementary Information: Actuarial Cost Method Aggregate Entry Age Normal Amortization Method Level % Pay (Closed) Remaining Amortization Period 19 Years Asset Valuation Method 5-Year Smoothed Fair Value Inflation 2.25% Salary Increases 2.75% to 13.75%, Including Inflation Investment Rate of Return 7.25% Retirement Age Experience-based table of rates that are specific to the type of eligibility condition. Last updated for the 2020 valuation pursuant to an experience study of the period 2017-2019. Mortality For non-disabled retirees, the Pub-2010, Amount-Weighted, below- median income, General, Retiree, Male (adjusted 106%) and Female (adjusted 105%) tables, and future mortality improvements projected using scale MP-2020. For disabled retirees, the Pub-2010, Amount- Weighted, below-median income, General, Disabled Retiree, Male and Female (both unadjusted) tables, and future mortality improvements projected using scale MP-2020. For active members, the Pub-2010, Amount-Weighted, below-median income, General, Employee, Male and Female (both unadjusted) tables, and future mortality improvements projected using scale MP-2020. 97 Page 134 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Police Pension Fund Schedule of Employer Contributions - Last Ten Fiscal Years December 31, 2024 Contributions in Relation to Actuarially the Actuarially Contribution Contributions as Fiscal Determined Determined Excess/ Covered a Percentage of Year Contribution Contribution (Deficiency) Payroll Covered Payroll 2015 1,152,455 1,153,000 $ 545 $ 3,548,022 32.50% 2016 1,192,842 1,692,000 499,158 3,500,618 48.33% 2017 1,613,000 1,613,000 — 3,485,670 46.28% 2018 1,817,304 1,959,000 141,696 3,571,005 54.86% 2019 1,770,649 1,959,000 188,351 3,580,113 54.72% 2020 1,924,575 1,959,000 34,425 3,784,040 51.77% 2021 2,058,218 2,059,000 782 4,001,907 51.45% 2022 1,981,581 2,059,000 77,419 4,195,338 49.08% 2023 2,082,272 2,082,300 28 4,493,047 46.34% 2024 2,152,136 2,152,200 64 4,995,590 43.08% Notes to the Required Supplementary Information: Actuarial Cost Method Entry Age Normal Amortization Method Level Percentage of Payroll Method Remaining Amortization Period 16 Years Asset Valuation Method Fair Value of Assets Inflation 2.50% Salary Increases Service-Based Rates Investment Rate of Return 6.50% Retirement Age 50-70 Mortality PubS-2010 Employee mortality, projected 5 years past the valuation date with Scale MP-2021. 10% of active deaths are assumed to be in the line of duty. 98 Page 135 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Illinois Municipal Retirement Fund Schedule of Changes in the Employer's Net Pension Liability/(Asset) December 31, 2024 See Following Page 99 Page 136 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Illinois Municipal Retirement Fund Schedule of Changes in the Employer's Net Pension Liability/(Asset) - Last Ten Fiscal Years December 31, 2024 12/31/2015 12/31/2016 12/31/2017 Total Pension Liability Service Cost $ 559,190 598,048 657,808 Interest 2,746,094 2,990,163 3,049,090 Changes in Benefit Terms — — — Differences Between Expected and Actual Experience 442,320 (314,087) (351,601) Change of Assumptions 44,985 (46,289) (1,232,127) Benefit Payments, Including Refunds of Member Contributions (1,812,146) (2,017,242) (2,068,341) Net Change in Total Pension Liability 1,980,443 1,210,593 54,829 Total Pension Liability - Beginning 37,241,072 39,221,515 40,432,108 Total Pension Liability - Ending 39,221,515 40,432,108 40,486,937 Plan Fiduciary Net Position Contributions - Employer $ 581,765 646,828 649,360 Contributions - Members 244,846 274,151 280,047 Net Investment Income 180,545 2,519,326 6,771,380 Benefit Payments, Including Refunds of Member Contributions (1,812,146) (2,017,242) (2,068,341) Other (Net Transfer) 207,933 (94,443) (1,055,926) Net Change in Plan Fiduciary Net Position (597,057) 1,328,620 4,576,520 Plan Net Position - Beginning 36,601,794 36,004,737 37,333,357 Plan Net Position - Ending 36,004,737 37,333,357 41,909,877 Employer's Net Pension Liability/(Asset) $ 3,216,778 3,098,751 (1,422,940) Plan Fiduciary Net Position as a Percentage of the Total Pension Liability 91.80% 92.34% 103.51 % Covered Payroll $ 5,377,961 6,001,915 6,217,025 Employer's Net Pension Liability/(Asset) as a Percentage of Covered Payroll 59.81% 51.63% (22.89)% Changes of Assumptions. Changes in assumptions related to the discount rate were made in 2015 through 2018 and 2020. Changes in assumptions related to the demographics were made in 2017 and 2023. 100 Page 137 of 268 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 596,552 670,198 734,369 684,779 688,254 753,724 835,355 3,051,534 3,140,762 3,276,077 3,388,466 3,510,971 3,651,859 3,925,443 — — — — — — — 267,839 549,394 289,586 254,793 949,591 517,108 356,934 1,156,290 — (311,555) — — (60,030) — (2,230,734) (2,361,253) (2,379,873) (2,507,492) (2,944,743) (3,023,940) (3,192,732) 2,841,481 1,999,101 1,608,604 1,820,546 2,204,073 1,838,721 1,925,000 40,486,937 43,328,418 45,327,519 46,936,123 48,756,669 50,960,742 52,799,463 43,328,418 45,327,519 46,936,123 48,756,669 50,960,742 52,799,463 54,724,463 636,883 499,401 671,346 651,566 540,368 376,955 453,962 335,397 323,558 339,388 386,978 355,447 400,861 448,869 (2,446,960) 7,625,780 6,564,356 8,667,180 (7,426,152) 5,437,636 5,447,121 (2,230,734) (2,361,253) (2,379,873) (2,507,492) (2,944,743) (3,023,940) (3,192,732) 851,664 (67,044) 86,468 (89,954) 330,122 896,181 (1,285,836) (2,853,750) 6,020,442 5,281,685 7,108,278 (9,144,958) 4,087,693 1,871,384 41,909,877 39,056,127 45,076,569 50,358,254 57,466,532 48,321,574 52,409,267 39,056,127 45,076,569 50,358,254 57,466,532 48,321,574 52,409,267 54,280,651 4,272,291 250,950 (3,422,131) (8,709,863) 2,639,168 390,196 443,812 90.14% 99.45% 107.29% 117.86% 94.82% 99.26% 99.19% 6,443,263 6,417,473 6,927,420 7,304,541 7,888,585 8,807,222 9,999,170 66.31% 3.91% (49.40%) (119.24%) 33.46% 4.43% 4.44% 101 Page 138 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Police Pension Fund Schedule of Changes in the Employer's Net Pension Liability - Last Ten Fiscal Years December 31, 2024 12/31/2015 12/31/2016 12/31/2017 Total Pension Liability Service Cost $ 826,042 843,298 936,254 Interest 2,792,133 3,118,867 3,206,541 Changes in Benefit Terms — — — Differences Between Expected and Actual Experience (140,172) 540,079 (176,284) Change of Assumptions 3,859,798 (1,243,789) (705,405) Contributions - Buy Backs — — — Benefit Payments, Including Refunds of Member Contributions (1,762,736) (1,963,819) (2,141,300) Net Change in Total Pension Liability 5,575,065 1,294,636 1,119,806 Total Pension Liability - Beginning 40,768,986 46,344,051 47,638,687 Total Pension Liability - Ending 46,344,051 47,638,687 48,758,493 Plan Fiduciary Net Position Contributions - Employer $ 1,153,000 1,692,000 1,613,000 Contributions - Members 344,953 347,368 347,262 Contributions - Buy Backs — — — Net Investment Income (11,813) 1,532,183 3,275,894 Benefit Payments, Including Refunds of Member Contributions (1,762,736) (1,963,819) (2,141,300) Administrative Expenses (14,633) (16,122) (17,278) Net Change in Plan Fiduciary Net Position (291,229) 1,591,610 3,077,578 Plan Net Position - Beginning 26,102,606 25,811,377 27,402,987 Plan Net Position - Ending 25,811,377 27,402,987 30,480,565 Employer's Net Pension Liability $ 20,532,674 20,235,700 18,277,928 Plan Fiduciary Net Position as a Percentage of the Total Pension Liability 55.70% 57.52% 62.51% Covered Payroll $ 3,548,022 3,500,618 3,485,670 Employer's Net Pension Liability as a Percentage of Covered Payroll 578.71% 578.06% 524.37% 102 Page 139 of 268 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 868,643 835,473 863,320 858,081 1,061,196 1,019,899 1,130,581 3,154,921 3,362,848 3,499,288 3,519,619 3,703,037 3,785,354 4,198,488 — 151,633 — 1,350,386 — — — 664,880 367,487 (1,219,830) — (704,748) 4,286,273 385,631 993,650 — — (287,796) — — — — — — 41,965 — 117,266 63,745 (2,179,786) (2,720,298) (2,572,118) (3,077,402) (2,649,731) (2,853,792) (3,073,353) 3,502,308 1,997,143 570,660 2,404,853 1,409,754 6,355,000 2,705,092 48,758,493 52,260,801 54,257,944 54,828,604 57,233,457 58,643,211 64,998,211 52,260,801 54,257,944 54,828,604 57,233,457 58,643,211 64,998,211 67,703,303 1,959,000 1,959,000 1,959,000 2,059,000 2,059,000 2,082,300 2,152,200 349,189 351,998 388,009 438,554 415,758 445,261 495,063 — — — — — 117,266 63,745 (1,745,798) 4,394,123 3,090,171 3,890,220 (4,760,730) 4,556,704 3,639,561 (2,179,786) (2,720,298) (2,572,118) (3,077,402) (2,649,731) (2,853,792) (3,073,353) (20,515) (18,817) (16,942) (19,330) (22,454) (68,181) (62,171) (1,637,910) 3,966,006 2,848,120 3,291,042 (4,958,157) 4,279,558 3,215,045 30,480,565 28,842,655 32,808,661 35,656,781 38,947,823 33,989,666 38,269,224 28,842,655 32,808,661 35,656,781 38,947,823 33,989,666 38,269,224 41,484,269 23,418,146 21,449,283 19,171,823 18,285,634 24,653,545 26,728,987 26,219,034 55.19% 60.47% 65.03% 68.05% 57.96% 58.88% 61.27% 3,571,005 3,580,113 3,784,040 4,001,907 4,195,338 4,493,047 4,995,590 655.79% 599.12% 506.65% 456.92% 587.64% 594.90% 524.84% 103 Page 140 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Police Pension Fund Schedule of Investment Returns - Last Ten Fiscal Years December 31, 2024 Annual Money- Weighted Rate of Return, Net Fiscal of Investment Year Expense 2015 0.23% 2016 6.17% 2017 11.98% 2018 (5.67%) 2019 15.30% 2020 9.69% 2021 11.21% 2022 N/A 2023 13.66% 2024 9.54% N/A - Not Available 104 Page 141 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Retiree Benefit Plan Schedule of Changes in the Employer's Total OPEB Liability December 31, 2024 See Following Page 105 Page 142 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Retiree Benefit Plan Schedule of Changes in the Employer's Total OPEB Liability December 31, 2024 12/31/2018 Total OPEB Liability Service Cost $ 64,479 Interest 68,911 Changes in Benefit Terms — Differences Between Expected and Actual Experience — Change of Assumptions or Other Inputs (276,035) Benefit Payments (30,405) Net Change in Total OPEB Liability (173,050) Total OPEB Liability - Beginning 1,953,835 Total OPEB Liability - Ending 1,780,785 Covered-Employee Payroll $ 9,457,709 Total OPEB Liability as a Percentage of Covered-Employee Payroll 18.83% Notes: This schedule is intended to show information for ten years. Information for additional years will be displayed as it becomes available. No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement 75. Changes of Assumptions. Change of Assumptions and other inputs reflect changes in the discount rate in 2018 through 2024. 106 Page 143 of 268 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 56,984 72,343 113,944 108,741 89,557 101,235 (27,177) 50,933 45,595 12,916 118,569 95,150 — — — — — — — — — 44,054 — 91,978 481,879 291,684 (145,118) (607,805) 90,550 (432,470) (40,629) (42,576) (57,017) (60,996) (94,745) (103,244) 471,057 372,384 (42,596) (503,090) 203,931 (247,351) 1,780,785 2,251,842 2,624,226 2,581,630 2,078,540 2,282,471 2,251,842 2,624,226 2,581,630 2,078,540 2,282,471 2,035,120 11,614,444 12,863,489 13,376,321 15,192,917 15,800,634 15,425,899 19.39% 20.40% 19.30% 13.68% 14.45% 13.19% 107 Page 144 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS General Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Revenues Taxes $ 13,258,191 13,258,191 13,154,215 12,636,782 Intergovernmental 11,441,600 11,441,600 11,478,929 11,224,329 Licenses and Permits 1,312,900 1,312,900 1,926,728 2,548,756 Charges for Services 1,266,100 1,266,100 1,144,494 1,269,365 Fines and Forfeitures 537,500 537,500 575,214 544,438 Investment Income 700,000 700,000 792,495 824,558 Total Revenues 28,516,291 28,516,291 29,072,075 29,048,228 Expenditures General Government 7,768,775 7,856,157 6,637,022 6,504,038 Public Safety 12,342,626 12,342,626 12,176,422 11,587,479 Highways and Streets 3,186,750 3,186,750 2,642,426 2,899,184 Capital Outlay 486,293 486,293 244,388 591,117 Debt Service Principal Retirement — — 120,454 126,482 Interest and Fiscal Charges — — 13,604 7,573 Total Expenditures 23,784,444 23,871,826 21,834,316 21,715,873 Excess (Deficiency) of Revenues Over (Under) Expenditures 4,731,847 4,644,465 7,237,759 7,332,355 Other Financing Sources (Uses) Debt Issuance — — — 396,749 Transfers In 53,400 53,400 53,400 53,400 Transfers Out (4,784,800) (8,784,800) (8,788,598) (8,558,918) (4,731,400) (8,731,400) (8,735,198) (8,108,769) Net Change in Fund Balance 447 (4,086,935) (1,497,439) (776,414) Fund Balance - Beginning 15,285,434 16,061,848 Fund Balance - Ending 13,787,995 15,285,434 108 Page 145 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Central Business District TIF - Special Revenue Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Revenues Taxes Property Taxes $ 1,822,825 1,822,825 1,727,015 1,285,366 Investment Income 1,000 1,000 36,809 3,227 Other Income 1,650,000 1,650,000 — — Total Revenues 3,473,825 3,473,825 1,763,824 1,288,593 Expenditures General Government Contracted Services Façade/Interior Awards 155,000 195,000 98,500 145,750 Legal - General Counsel — — 3,375 7,350 Professional Services - Other 615,825 620,521 309,231 286,858 Capital Outlay Real Estate Purchases 1,350,000 1,350,000 — — Total Expenditures 2,120,825 2,165,521 411,106 439,958 Excess (Deficiency) of Revenues Over (Under) Expenditures 1,353,000 1,308,304 1,352,718 848,635 Other Financing Sources Transfers Out (150,000) (150,000) (150,000) — Net Change in Fund Balance 1,203,000 1,158,304 1,202,718 848,635 Fund Balance - Beginning 2,366,693 1,518,058 Fund Balance - Ending 3,569,411 2,366,693 109 Page 146 of 268  OTHER SUPPLEMENTARY INFORMATION Other supplementary information includes financial statements and schedules not required by the GASB, nor a part of the basic financial statements, but are presented for purposes of additional analysis. Such statements and schedules include: • Budgetary Comparison Schedules - Major Governmental Funds • Combining Statements - Nonmajor Governmental Funds • Budgetary Comparison Schedules - Nonmajor Governmental Funds • Budgetary Comparison Schedules - Major Enterprise Funds • Budgetary Comparison Schedules - Nonmajor Enterprise Funds • Combining Statements - Internal Service Funds • Budgetary Comparison Schedules - Internal Service Funds • Budgetary Comparison Schedules - Pension Trust Fund • Consolidated Year-End Financial Report 110 Page 147 of 268  INDIVIDUAL FUND DESCRIPTIONS GENERAL FUND The General Fund is used to account for all financial resources except those required to be accounted for in another fund. SPECIAL REVENUE FUNDS The Special Revenue Funds are used to account for the proceeds of specific revenue sources (other than fiduciary funds or capital projects funds) that are legally restricted to expenditure for specified purposes. Central Business District Tax Increment Financing (TIF) Fund The Central Business District Tax Increment Financing (TIF) Fund is used to account for the accumulation and expenditure of funds from incremental revenue restricted for economic development within the TIF area. Motor Fuel Tax Fund The Motor Fuel Tax Fund is used to account for the operation of street maintenance programs and capital projects as authorized by the Illinois Department of Transportation. Financing is provided from the Village’s share of gasoline taxes restricted by the State for street maintenance. Roosevelt Road Tax Increment Financing (TIF) Fund The Roosevelt Road Tax Increment Financing (TIF) Fund is used to account for the accumulation and expenditure of funds from incremental revenue restricted for economic development within the TIF area. Fire Services Fund The Fire Services Fund is used to account for the accumulation and expenditure of funds from Fire Service Fees and Fire SSA monies to supplement the operations of the Glen Ellyn Volunteer Fire Company. Forfeiture Fund The Forfeiture Fund is used to account for revenues and expenditures related to drug asset forfeitures from the state and federal government. 111 Page 148 of 268  INDIVIDUAL FUND DESCRIPTIONS - Continued DEBT SERVICE FUND The Debt Service Fund is used to account for the accumulation of resources for, and the payment of, general long-term debt principal and interest. CAPITAL PROJECTS FUNDS The Capital Projects Funds are used to account for all financial resources used for the acquisition or construction of major capital facilities, equipment and capital asset replacement. Capital Projects Fund The Capital Projects Fund is used to account for the financing of general street and infrastructure projects. Financing is primarily provided through utility taxes assigned for capital purposes, a transfer of property taxes from the General Fund, real estate transfer tax, and the Village's food and beverage tax. The Capital Projects Fund is also supplemented by grants for various projects. Facilities Maintenance Reserve Fund The Facilities Maintenance Reserve Fund is used to account for the cost of maintaining various Village owned facilities. Financing is provided through charges to other funds. Corporate Reserve Fund The Corporate Reserve Fund is used to account for funds assigned for capital purposes for the Village and other entities. ENTERPRISE FUNDS Enterprise Funds are used to account for operations that are financed and operated in a manner similar to private business enterprises where the intent is that costs of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges; or where it has been decided that periodic determination of revenues earned, expenses incurred and/or net income is appropriate for capital maintenance, public policy, management control, accountability or other purpose. Water and Sanitary Sewer Fund The Water and Sanitary Sewer Fund is used to account for the provisions of water and sanitary sewer services to the residents of the Village. All activities necessary to provide such services are accounted for in this fund, including, but not limited to, administration, operations, maintenance, financing and related debt services and billing and collection. 112 Page 149 of 268  INDIVIDUAL FUND DESCRIPTIONS - Continued ENTERPRISE FUNDS - Continued Village Links/Reserve 22 Fund The Village Links/Reserve 22 Fund is used to account for the operations of the Village Links golf course and Reserve 22 restaurant facilities. Financing is provided by user charges. Parking Fund The Parking Fund is used to account for the provision of public parking services for a fee. All activities are accounted for including administration, operations, financing and revenue collection. Residential Solid Waste Fund The Residential Solid Waste Fund is used to account for the operations and maintenance of refuse collection. Financing is provided through user charges. INTERNAL SERVICE FUNDS The Internal Service Funds are used to account for the financing of goods or services provided by one department or agency to other departments or agencies other governmental unit, or to other governmental units, on a cost-reimbursement basis. Insurance Fund The Insurance Fund is used to account for the accumulation of monies for the purpose of providing a staff health benefit plan and participation in the Municipal Insurance Cooperative Agency (MICA), a public entity risk management/insurance pool. Financing is provided by charges to other funds, contributions from employees, and other agencies. Equipment Services Fund The Equipment Services Fund is used to account for the cost of maintaining and replacing Village owned vehicles and equipment. Financing is provided by charges to other funds. PENSION TRUST FUND Police Pension Fund The Police Pension Fund is used to account for the accumulation of resources to be used for retirement pensions for the Village’s sworn police personnel. Most rules and regulations of the fund are established by the Pension Division of the Illinois Department of Insurance. Resources are contributed by sworn police personnel at rates fixed by state statutes and by the Village through an annual property tax levy. 113 Page 150 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS General Fund Schedule of Revenues - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Taxes Property Taxes General - Current $ 8,648,791 8,648,791 8,505,948 8,153,252 SSA - Current 146,400 146,400 147,551 142,766 Road and Bridge - Current 200,000 200,000 201,613 197,174 Home Rule Sales Tax 4,100,000 4,100,000 4,116,784 3,962,891 Hotel/Motel Tax 125,000 125,000 140,627 140,091 Auto Rental Tax 28,000 28,000 32,892 34,558 Demolition Tax 10,000 10,000 8,800 6,050 Total Taxes 13,258,191 13,258,191 13,154,215 12,636,782 Intergovernmental State Income Tax 4,846,100 4,846,100 4,898,639 4,607,266 Sales Tax 4,967,300 4,967,300 5,279,220 5,008,782 Local Use Tax 1,250,000 1,250,000 1,016,284 1,155,682 Cannabis Use Tax 50,000 50,000 46,055 43,681 Replacement Tax 319,700 319,700 223,508 396,196 Federal Grants 8,500 8,500 15,223 12,722 Total Intergovernmental 11,441,600 11,441,600 11,478,929 11,224,329 Licenses and Permits Business Registration Licenses 60,000 60,000 80,212 67,082 Alcoholic Beverage Licenses 135,000 135,000 125,019 129,668 Vehicle Licenses 300,000 300,000 294,931 302,242 Building/Electrical Permits 800,000 800,000 1,415,491 2,033,514 Overweight Permits 17,900 17,900 11,075 16,250 Total Licenses and Permits 1,312,900 1,312,900 1,926,728 2,548,756 Charges for Services Accounting - Other Agencies 137,300 137,300 137,300 146,700 Stormwater Engineering Fee 30,000 30,000 30,028 53,008 Elevator Inspections 22,600 22,600 22,800 22,650 114 Page 151 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS General Fund Schedule of Revenues - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Charges for Services - Continued Ambulance Service $ — — 108 26,252 Cell Tower Rental 185,000 185,000 58,275 57,131 Franchise Fees 500,000 500,000 445,343 486,908 Miscellaneous 207,000 207,000 156,198 174,432 Police Accident Reports 4,000 4,000 4,525 4,160 Police Fingerprinting 2,200 2,200 2,437 2,243 Police Department Income 178,000 178,000 176,003 151,182 Leases — — 111,477 144,699 Total Charges for Services 1,266,100 1,266,100 1,144,494 1,269,365 Fines and Forfeitures Traffic Fines 300,000 300,000 308,452 311,437 Planning and Building Fines 30,000 30,000 13,750 23,300 Police Fines 200,000 200,000 246,462 198,826 Police False Alarm Fees 7,500 7,500 6,550 10,875 Total Fines and Forfeitures 537,500 537,500 575,214 544,438 Investment Income 700,000 700,000 792,495 824,558 Total Revenues 28,516,291 28,516,291 29,072,075 29,048,228 115 Page 152 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS General Fund Schedule of Expenditures - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual General Government Village Board and Clerk's Office $ 137,060 137,060 115,828 103,278 Village Manager's Office 1,082,060 1,119,560 1,060,841 1,237,374 Law Office 376,050 376,050 281,107 363,389 Human Resources 408,565 408,565 380,190 — Finance 1,164,430 1,164,430 1,126,740 1,074,994 Planning and Development 2,539,950 2,570,720 2,125,119 2,153,095 Facilities Maintenance 924,460 924,460 759,507 775,319 Economic Development 782,480 801,592 540,333 635,622 Historic Preservation 63,450 63,450 57,926 27,458 Senior Services 83,720 83,720 111,751 87,452 Information Technology 1,123,050 1,123,050 994,180 893,122 Less Costs Charged to Other Departments and Funds (916,500) (916,500) (916,500) (847,065) Total General Government 7,768,775 7,856,157 6,637,022 6,504,038 Public Safety Police Department 11,499,606 11,499,606 11,305,784 10,624,353 Fire and EMS Services 843,020 843,020 870,638 963,126 Total Public Safety 12,342,626 12,342,626 12,176,422 11,587,479 Highways and Streets Public Works Administration 985,855 985,855 961,950 901,245 Public Works Operations Division 2,912,195 2,912,195 2,346,887 2,625,703 Less Costs Charged to Other Departments and Funds (711,300) (711,300) (666,411) (627,764) Total Highways and Streets 3,186,750 3,186,750 2,642,426 2,899,184 Capital Outlay 486,293 486,293 244,388 591,117 Debt Service Principal Retirement — — 120,454 126,482 Interest and Fiscal Charges — — 13,604 7,573 Total Debt Service — — 134,058 134,055 Total Expenditures 23,784,444 23,871,826 21,834,316 21,715,873 116 Page 153 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS General Fund Schedule of Detailed Expenditures - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual General Government Village Board and Clerk's Office Personnel Services Salaries - Pensionable $ 37,300 37,300 19,118 17,839 Salaries - Non-Pensionable 13,000 13,000 14,413 15,409 FICA 3,800 3,800 2,518 2,469 IMRF 1,700 1,700 844 713 Contractual Services Insurance 1,500 1,500 1,503 2,755 Village Commissions 19,950 19,950 6,775 7,454 Dues, Subscriptions and Registration Fees 28,710 28,710 30,325 20,914 Employee Education 1,000 1,000 — 584 Travel 150 150 — — Printing 150 150 13 57 Professional Services - Other 24,650 24,650 24,265 22,690 Public Relations 3,150 3,150 15,399 11,890 Commodities Office Supplies 2,000 2,000 655 504 137,060 137,060 115,828 103,278 Village Manager's Office Personnel Services Salaries - Pensionable 657,000 657,000 808,552 799,432 Salaries - Non-Pensionable 227,000 227,000 2,409 — Salaries - Overtime 500 500 751 478 Salaries - Temporary Help — — — 1,519 FICA 47,100 47,100 55,503 56,454 IMRF 30,000 30,000 35,449 32,538 Contractual Services Glen Ellyn Fourth of July Committee 5,000 5,000 5,000 5,000 Recognition and Awards — — 7,660 22,434 Citizens Corps/Milton Township 4,000 4,000 222 — Dues, Subscriptions and Registration Fees 6,150 6,150 7,859 9,956 Village Commission — — — 19 Recruiting and Testing — — 11,822 66,294 Employee Education 8,200 8,200 7,198 30,237 117 Page 154 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS General Fund Schedule of Detailed Expenditures - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual General Government - Continued Village Manager's Office - Continued Contractual Services - Continued Travel $ 4,750 4,750 3,782 3,374 State Unemployment Claims — — 2,938 4,572 Professional Services - Legal 5,000 5,000 1,135 53,500 Postage 550 550 271 11 Printing 250 250 201 1,542 Professional Services - Other — 37,500 13,946 42,520 Telecommunication 1,560 1,560 2,780 2,775 Public Relations 4,000 4,000 5,717 10,056 Insurance 76,000 76,000 71,132 80,043 Commodities Office Supplies 5,000 5,000 16,514 14,368 Covid-19 Expenditures — — — 252 1,082,060 1,119,560 1,060,841 1,237,374 Law Office Personnel Services Salaries - Pensionable 216,800 216,800 153,406 184,447 FICA 13,300 13,300 11,589 12,772 IMRF 6,600 6,600 6,249 5,369 Contractual Services Dues, Subscriptions and Registration Fees 5,800 5,800 6,393 6,796 Employee Education 500 500 — — Travel 50 50 — — Professional Services - Legal 123,000 123,000 97,098 144,845 Telecommunication 900 900 525 900 Public Relations 100 100 — 8 Insurance 8,900 8,900 5,847 8,252 Commodities Office Supplies 100 100 — — 376,050 376,050 281,107 363,389 118 Page 155 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS General Fund Schedule of Detailed Expenditures - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual General Government - Continued Human Resources Personnel Services Salaries - Pensionable $ 224,700 224,700 228,586 — Salaries - Overtime 500 500 — — FICA 17,200 17,200 16,763 — IMRF 10,200 10,200 9,975 — Contractual Services Dues, Subscriptions and Registration Fees 43,540 43,540 37,181 — Travel 2,500 2,500 1,667 — Professional Services - Other 56,000 56,000 31,415 — Employee Recognition 26,100 26,100 18,333 — Employee Education 26,425 26,425 34,985 — Commodities Office Supplies 1,400 1,400 1,285 — 408,565 408,565 380,190 — Finance Personnel Services Salaries - Pensionable 659,100 659,100 634,713 601,849 Salaries - Non-Pensionable 165,800 165,800 173,319 154,826 Salaries - Overtime 2,000 2,000 — 344 Salaries - Temporary Help 19,500 19,500 8,820 18,098 FICA 64,600 64,600 61,469 58,030 IMRF 29,150 29,150 27,455 24,787 Contractual Services Insurance 84,400 84,400 58,242 60,031 Maintenance - Equipment 4,250 4,250 2,347 2,082 Postage 30,800 30,800 29,425 30,797 Printing 17,700 17,700 14,161 15,506 Professional Services - Banking 10,000 10,000 4,106 3,815 Employee Education 4,730 4,730 2,090 2,490 Employee Recognition 800 800 1,326 480 Travel 3,750 3,750 6,069 — Dues, Subscriptions and Registration Fees 2,020 2,020 3,694 1,673 Public Notices 3,000 3,000 2,564 2,564 Professional Services - Accounting 42,800 42,800 39,732 34,091 119 Page 156 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS General Fund Schedule of Detailed Expenditures - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual General Government - Continued Finance - Continued Contractual Services - Continued Telecommunication $ 1,200 1,200 800 950 Professional Services - Other 6,800 6,800 46,580 52,300 Commodities Office Supplies 3,380 3,380 2,611 1,754 Operating Supplies 8,650 8,650 7,217 8,527 1,164,430 1,164,430 1,126,740 1,074,994 Planning and Development Personnel Services Salaries - Pensionable 1,472,200 1,472,200 1,161,328 958,393 Salaries - Non-Pensionable 20,300 20,300 17,825 63,662 Salaries - Temporary Help — — 7,820 — Salaries - Overtime 6,000 6,000 1,920 3,502 FICA 114,500 114,500 88,558 75,203 IMRF 67,000 67,000 51,558 39,894 Contractual Services Insurance 325,000 325,000 208,356 191,464 Plumbing Inspections 50,000 50,000 33,800 32,720 Elevator Inspections 15,000 15,000 17,205 18,071 Forestry and Landscaping 50,000 50,000 34,024 48,855 Building Reviews 170,000 170,000 193,134 200,541 Stormwater Engineering 150,000 150,000 102,123 192,447 Printing 15,500 15,500 6,487 6,699 Professional Services - Other 31,000 61,770 170,234 300,342 Dues, Subscriptions and Registration Fees 5,000 5,000 1,657 348 Employee Education 11,500 11,500 6,260 11,554 Travel 3,500 3,500 1,301 399 Telecommunication 7,000 7,000 5,592 4,267 Commodities Office Supplies 24,000 24,000 14,888 3,333 Uniforms 2,450 2,450 1,049 1,401 2,539,950 2,570,720 2,125,119 2,153,095 120 Page 157 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS General Fund Schedule of Detailed Expenditures - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual General Government - Continued Facilities Maintenance Personnel Services Salaries - Pensionable $ 374,500 374,500 272,039 327,443 Salaries - Non-Pensionable 161,100 161,100 147,083 128,925 Salaries - Overtime 5,000 5,000 12,034 3,344 FICA 41,400 41,400 32,899 33,819 IMRF 17,000 17,000 12,817 13,190 Contractual Services Dues, Subscriptions and Registration Fees 600 600 — — Employee Education 6,000 6,000 1,247 2,780 Travel 250 250 147 — Maintenance - Building and Grounds 59,900 59,900 61,080 50,969 Professional Services - Other 1,400 1,400 590 228 Contractual Maintenance Service 61,850 61,850 72,207 46,811 Telecommunication 2,060 2,060 2,250 2,626 Utilities 48,000 48,000 23,967 26,023 Insurance 66,200 66,200 49,462 58,834 Equipment Services 20,000 20,000 20,000 25,200 Commodities Office Supplies 800 800 1,402 283 Operating Supplies 48,000 48,000 43,770 48,155 Inventory Parts 5,000 5,000 3,770 2,452 Uniforms 5,400 5,400 2,743 4,237 924,460 924,460 759,507 775,319 Economic Development Personnel Services Salaries - Pensionable 67,600 67,600 63,141 69,587 FICA 5,200 5,200 4,836 5,323 IMRF 3,100 3,100 2,882 2,954 Contractual Services Community Assistance Program — — — 10,500 Economic Development Incentive 280,000 280,000 199,536 287,666 Holiday Decorations 75,000 94,112 57,459 71,602 Façade Retail Award Program 30,000 30,000 — — Downtown Glen Ellyn Alliance 110,000 110,000 110,000 57,075 Dues, Subscriptions and Registration Fees 8,580 8,580 11,374 3,959 Employee Education 1,850 1,850 752 1,523 121 Page 158 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS General Fund Schedule of Detailed Expenditures - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual General Government - Continued Economic Development - Continued Contractual Services - Continued Travel $ 1,500 1,500 2,308 1,533 Postage 29,000 29,000 23,894 24,175 Marketing 10,000 10,000 9,514 31,489 Printing 31,800 31,800 30,190 30,615 Professional Services - Other 104,500 104,500 1,500 1,200 CBD Appearance — — — 9,833 Telecommunication 1,100 1,100 600 600 Public Relations 20,650 20,650 20,111 22,638 Insurance 2,200 2,200 2,200 2,000 Commodities Office Supplies 400 400 36 1,350 782,480 801,592 540,333 635,622 Historic Preservation Personnel Services Salaries - Pensionable 5,000 5,000 960 1,295 FICA 400 400 73 99 IMRF 500 500 41 55 Contractual Services Maintenance - Building and Grounds 11,500 11,500 10,438 10,726 Professional Services - Other 1,950 1,950 2,983 1,740 Utilities 12,500 12,500 13,781 13,543 Insurance 31,600 31,600 29,650 — 63,450 63,450 57,926 27,458 Senior Services Personnel Services Salaries - Pensionable 20,000 20,000 19,686 — Salaries - Non-Pensionable 30,000 30,000 39,078 47,417 FICA 3,800 3,800 4,469 3,637 IMRF 900 900 841 — Contractual Services Senior Center Grant Expenditures — — — 1,703 Senior Transportation 20,000 20,000 39,509 26,892 Dues, Subscriptions and Registration Fees 300 300 — 100 122 Page 159 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS General Fund Schedule of Detailed Expenditures - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual General Government - Continued Senior Services - Continued Contractual Services - Continued Employee Education $ 900 900 — — Telecommunication 1,740 1,740 1,771 1,860 Professional Services - Other 2,580 2,580 2,336 2,733 Commodities Operating Supplies 3,500 3,500 4,061 3,110 83,720 83,720 111,751 87,452 Information Technology Personnel Services Salaries - Pensionable 460,300 460,300 472,077 377,578 FICA 35,200 35,200 35,187 28,022 IMRF 20,900 20,900 20,998 15,515 Contractual Services Postage 300 300 14 — Copier 42,200 42,200 32,076 32,535 Employee Education 24,500 24,500 15,609 5,373 Travel 800 800 363 290 Web Communication Service 10,500 10,500 9,208 7,500 Maintenance - Equipment 295,650 295,650 221,241 231,616 Professional Services - Other 73,400 73,400 63,585 51,363 Telecommunication 87,800 87,800 59,662 92,990 Insurance 70,400 70,400 53,877 50,068 Commodities Office Supplies 300 300 9,995 14 Operating Supplies 800 800 288 258 1,123,050 1,123,050 994,180 893,122 Less Costs Charged to Other Departments and Funds (916,500) (916,500) (916,500) (847,065) Total General Government 7,768,775 7,856,157 6,637,022 6,504,038 123 Page 160 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS General Fund Schedule of Detailed Expenditures - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Public Safety Police Department Personnel Services Salaries - Sworn $ 4,979,223 4,979,223 5,069,218 4,595,214 Salaries - Non-Sworn Pensionable 900,100 900,100 858,564 719,889 Salaries - Non-Pensionable 104,000 104,000 88,420 71,176 Police Overtime 505,785 505,785 488,505 481,389 FICA 158,200 158,200 151,429 137,360 IMRF 41,200 41,200 40,398 32,559 Pension Contributions 2,152,200 2,152,200 2,152,200 2,082,300 Crossing Guards 40,000 40,000 35,085 35,734 Contractual Services Insurance 975,100 975,100 911,252 819,225 Equipment Services 373,400 373,400 373,400 429,600 Maintenance - Equipment 116,000 116,000 23,007 154,873 Printing 8,000 8,000 3,689 5,229 Professional Services - Other 45,000 45,000 46,435 39,017 Dues, Subscriptions and Registration Fees 72,300 72,300 68,304 62,047 Counseling Services 85,000 85,000 85,000 85,000 Employee Education 100,000 100,000 58,154 99,827 Telecommunication 41,800 41,800 18,024 21,312 DARE Program 5,000 5,000 3,866 997 Cannabis Use Tax — — 40,750 21,207 Travel 9,000 9,000 12,237 11,570 Du-Comm 596,598 596,598 603,105 546,975 Actuarial Fees 3,500 3,500 3,600 3,500 Towing - Impound Fees 6,000 6,000 10,493 10,491 Commodities Office Supplies 10,000 10,000 5,478 7,813 Operating Supplies 105,200 105,200 96,766 92,244 Uniforms 67,000 67,000 58,405 57,805 11,499,606 11,499,606 11,305,784 10,624,353 124 Page 161 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS General Fund Schedule of Detailed Expenditures - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Fire and EMS Services Contractual Services Du-Comm $ — — — 164,124 Maintenance - Building and Grounds 500 500 1,822 — Telecommunications 11,400 11,400 15,192 12,500 Utilities 6,600 6,600 5,617 7,890 Insurance 336,000 336,000 336,000 320,300 Ambulance Service 485,520 485,520 512,007 457,866 Commodities Operating Supplies 3,000 3,000 — 446 843,020 843,020 870,638 963,126 Total Public Safety 12,342,626 12,342,626 12,176,422 11,587,479 Highways and Streets Public Works Administration Personnel Services Salaries - Pensionable 711,300 711,300 715,083 659,710 Salaries - Non-Pensionable 7,300 7,300 4,663 4,230 Salaries - Overtime 1,000 1,000 489 534 FICA 55,000 55,000 53,256 49,271 IMRF 32,300 32,300 31,685 27,198 Contractual Services Employee Recognition 4,350 4,350 4,444 3,467 Dues, Subscriptions and Registration Fees 425 425 267 430 Employee Education 9,500 9,500 1,332 4,460 Travel 6,800 6,800 3,279 7,429 Printing 250 250 — — Maintenance - Building and Grounds 1,000 1,000 1,332 868 Maintenance - Equipment 2,500 2,500 5,746 3,986 Professional Services - Other 3,500 3,500 136 10,422 Telecommunication 4,080 4,080 4,500 4,421 Insurance 109,200 109,200 98,344 88,130 Equipment Services 31,000 31,000 31,000 32,500 Commodities Office Supplies 2,500 2,500 2,876 1,864 Operating Supplies 1,250 1,250 640 288 125 Page 162 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS General Fund Schedule of Detailed Expenditures - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Highways and Streets - Continued Public Works Administration - Continued Commodities - Continued Safety Supplies $ 800 800 852 710 Uniforms 1,800 1,800 2,026 1,327 985,855 985,855 961,950 901,245 Public Works Operations Division Personnel Services Salaries - Pensionable 827,200 827,200 783,320 780,401 Salaries - Non-Pensionable 30,500 30,500 24,100 20,882 Salaries - Overtime 34,750 34,750 54,217 55,294 Salaries - Temporary Help 124,000 124,000 72,707 52,645 FICA 78,200 78,200 69,044 66,882 IMRF 42,700 42,700 38,327 35,212 Contractual Services Insurance 300,900 300,900 266,043 253,549 Equipment Services 477,200 477,200 477,200 701,900 CBD Appearance 119,530 119,530 88,739 74,173 Maintenance - Building and Grounds 203,250 203,250 82,436 118,384 Maintenance - Equipment 8,110 8,110 5,017 3,062 Maintenance - Signs 63,110 63,110 60,242 20,037 Maintenance - Street Painting 125,000 125,000 19,207 78,360 Maintenance - Traffic Signals 45,100 45,100 41,581 32,211 Maintenance - Street Lights 40,000 40,000 35,386 31,540 Professional Services - Other 19,585 19,585 16,988 10,662 Professional Services - Snow 70,000 70,000 38,976 60 Dues, Subscriptions and Registration Fees 2,800 2,800 2,542 1,704 Employee Education 9,650 9,650 6,546 3,264 Safety Training 1,500 1,500 420 956 Travel 4,650 4,650 5,005 2,289 Telecommunication 7,560 7,560 8,191 7,013 Leased Equipment 4,500 4,500 2,803 2,933 Landfill Fees 20,000 20,000 24,429 19,977 Tree Trimming 83,000 83,000 — 141,984 Tree Removal 97,350 97,350 64,520 54,292 Emerald Ash Borer Program 2,750 2,750 2,519 9,577 ESDA Expenditure 7,700 7,700 4,442 3,638 126 Page 163 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS General Fund Schedule of Detailed Expenditures - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Highways and Streets - Continued Public Works Operations Division - Continued Commodities Office Supplies $ 2,350 2,350 2,889 2,536 Operating Supplies 19,800 19,800 17,360 12,826 Operating Supplies - Asphalt 21,500 21,500 13,654 14,514 Safety Related Equipment 12,350 12,350 11,811 8,557 Uniforms 5,600 5,600 6,226 4,389 2,912,195 2,912,195 2,346,887 2,625,703 Less Costs Charged to Other Departments and Funds (711,300) (711,300) (666,411) (627,764) Total Highways and Streets 3,186,750 3,186,750 2,642,426 2,899,184 Capital Outlay General Government Planning and Development Equipment 3,400 3,400 12,107 2,795 Senior Services Equipment 500 500 — 374 Information Technology Office Equipment 55,000 55,000 50,819 177,583 Public Safety Police Department Equipment 199,000 199,000 6,693 364,891 Highways and Streets Public Works Administration Equipment 3,000 3,000 1,852 5,702 Public Works Operations Division Equipment 225,393 225,393 172,917 39,772 Total Capital Outlay 486,293 486,293 244,388 591,117 Debt Service Principal Retirement — — 120,454 126,482 Interest and Fiscal Charges — — 13,604 7,573 Total Debt Service — — 134,058 134,055 Total Expenditures 23,784,444 23,871,826 21,834,316 21,715,873 127 Page 164 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Debt Service Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Revenues Investment Income $ 1,300 1,300 1,889 1,878 Expenditures Debt Service Principal Retirement 1,525,000 1,525,000 1,525,000 1,470,000 Interest and Fiscal Charges 712,479 712,479 712,429 756,674 Total Expenditures 2,237,479 2,237,479 2,237,429 2,226,674 Excess (Deficiency) of Revenues Over (Under) Expenditures (2,236,179) (2,236,179) (2,235,540) (2,224,796) Other Financing Sources Transfers In 2,235,279 2,235,279 2,235,278 2,223,973 Net Change in Fund Balance (900) (900) (262) (823) Fund Balance - Beginning 36,582 37,405 Fund Balance - Ending 36,320 36,582 128 Page 165 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Capital Projects Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Revenues Taxes Utility Taxes $ 1,572,600 1,572,600 1,572,507 1,538,046 Real Estate Transfer Tax 635,000 635,000 642,669 667,505 Food and Beverage Tax 1,810,500 1,810,500 1,800,927 1,752,940 Intergovernmental 500,000 500,000 — — Investment Income 447,000 447,000 578,998 809,455 Miscellaneous 645,000 645,000 147,646 161,687 Total Revenues 5,610,100 5,610,100 4,742,747 4,929,633 Expenditures Capital Outlay 14,442,975 27,448,313 16,930,665 15,395,761 Excess (Deficiency) of Revenues Over (Under) Expenditures (8,832,875) (21,838,213) (12,187,918) (10,466,128) Other Financing Sources (Uses) Transfers In 8,255,680 10,255,680 6,738,598 8,408,918 Transfers Out (2,288,679) (2,288,679) (2,288,678) (2,277,373) 5,967,001 7,967,001 4,449,920 6,131,545 Net Change in Fund Balance (2,865,874) (13,871,212) (7,737,998) (4,334,583) Fund Balance - Beginning 11,852,571 16,187,154 Fund Balance - Ending 4,114,573 11,852,571 129 Page 166 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Capital Projects Fund Schedule of Expenditures - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Capital Outlay Contractual Street Maintenance $ 615,000 828,759 444,484 326,568 Street Improvements 9,516,245 18,196,439 13,191,621 13,701,742 Sidewalk Improvements 422,000 422,000 202,029 229,023 Professional Services - Other 55,000 55,000 6,907 12,111 Other Capital Projects 3,548,930 7,660,315 2,799,824 856,017 Engineering Services 285,800 285,800 285,800 270,300 Total Expenditures 14,442,975 27,448,313 16,930,665 15,395,761 130 Page 167 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Facilities Maintenance Reserve - Capital Projects Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Revenues Investment Income $ 5,531 5,531 33,049 25,490 Expenditures General Government Contractual Services Professional Services - Other 40,000 40,000 — — Capital Outlay Civic Center 77,200 77,200 39,764 56,734 Reno Center 758,500 758,500 28,586 20,611 Police Station 190,000 190,000 12,909 13,710 Stacy's and History Center 13,000 13,000 13,835 4,079 Other Facilities 75,000 75,000 9,450 1,300 Total Expenditures 1,153,700 1,153,700 104,544 96,434 Excess (Deficiency) of Revenues Over (Under) Expenditures (1,148,169) (1,148,169) (71,495) (70,944) Other Financing Sources Transfers In 525,000 525,000 525,000 375,000 Net Change in Fund Balance (623,169) (623,169) 453,505 304,056 Fund Balance - Beginning 953,054 648,998 Fund Balance - Ending 1,406,559 953,054 131 Page 168 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Nonmajor Governmental Funds Combining Balance Sheet December 31, 2024 Capital Projects Special Corporate Revenue Reserve Totals ASSETS Cash and Investments $ 14,788,261 2,100,468 16,888,729 Receivables - Net of Allowances Taxes 515,460 — 515,460 Accounts 517,249 — 517,249 Due from Other Governments 108,319 — 108,319 Land Held for Resale 137,270 1,320,760 1,458,030 Prepaids 15,747 — 15,747 Total Assets 16,082,306 3,421,228 19,503,534 LIABILITIES Accounts Payable 105,274 6,844 112,118 DEFERRED INFLOWS OF RESOURCES Grants 616,305 — 616,305 Property Taxes 515,460 — 515,460 Total Deferred Inflows of Resources 1,131,765 — 1,131,765 Total Liabilities and Deferred Inflows of Resources 1,237,039 6,844 1,243,883 FUND BALANCES Nonspendable 15,747 — 15,747 Restricted 14,225,546 — 14,225,546 Committed 603,974 176,923 780,897 Assigned — 3,237,461 3,237,461 Total Fund Balances 14,845,267 3,414,384 18,259,651 Total Liabilities, Deferred Inflows of Resources and Fund Balances 16,082,306 3,421,228 19,503,534 132 Page 169 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Nonmajor Governmental Funds Combining Statement of Revenues, Expenditures and Changes in Fund Balances For the Fiscal Year Ended December 31, 2024 Capital Projects Special Corporate Revenue Reserve Totals Revenues Taxes $ 489,284 — 489,284 Intergovernmental 1,471,358 — 1,471,358 Charges for Services 2,670,064 — 2,670,064 Investment Income 586,785 38,675 625,460 Miscellaneous 60,094 116,129 176,223 Total Revenues 5,277,585 154,804 5,432,389 Expenditures General Government 46,055 351,896 397,951 Public Safety 2,221,307 — 2,221,307 Highways and Streets 573,682 — 573,682 Capital Outlay 582,687 — 582,687 Debt Service Principal Retirement 27,997 — 27,997 Total Expenditures 3,451,728 351,896 3,803,624 Excess (Deficiency) of Revenues Over (Under) Expenditures 1,825,857 (197,092) 1,628,765 Other Financing Sources Transfers In 2,000,000 — 2,000,000 Net Change in Fund Balances 3,825,857 (197,092) 3,628,765 Fund Balances - Beginning 13,386,103 3,611,476 16,997,579 Adjustment - Nonmajor to Major (2,366,693) — (2,366,693) Fund Balances - Beginning as Adjusted 11,019,410 3,611,476 14,630,886 Fund Balances - Ending 14,845,267 3,414,384 18,259,651 133 Page 170 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Nonmajor Governmental Funds Combining Statement of Revenues, Expenditures and Changes in Fund Balances For the Fiscal Year Ended December 31, 2024 See Following Page 134 Page 171 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Nonmajor Governmental - Special Revenue Funds Combining Balance Sheet December 31, 2024 Motor Fuel Tax ASSETS Cash and Investments $ 5,467,745 Receivables - Net of Allowances Property Taxes — Accounts — Due from Other Governments 108,319 Land Held for Resale — Prepaids 15,747 Total Assets 5,591,811 LIABILITIES Accounts Payable 58,140 DEFERRED INFLOWS OF RESOURCES Grants — Property Taxes — Total Deferred Inflows of Resources — Total Liabilities and Deferred Inflows of Resources 58,140 FUND BALANCES Nonspendable 15,747 Restricted 4,913,950 Committed 603,974 Total Fund Balances 5,533,671 Total Liabilities, Deferred Inflows of Resources, and Fund Balances 5,591,811 135 Page 172 of 268  Central Business Roosevelt Fire District TIF Road TIF Services Forfeiture Totals — 496,548 8,106,759 717,209 14,788,261 — 153,896 361,564 — 515,460 — — 517,249 — 517,249 — — — — 108,319 — 137,270 — — 137,270 — — — — 15,747 — 787,714 8,985,572 717,209 16,082,306 — — 46,577 557 105,274 — — — 616,305 616,305 — 153,896 361,564 — 515,460 — 153,896 361,564 616,305 1,131,765 — 153,896 408,141 616,862 1,237,039 — — — — 15,747 — 633,818 8,577,431 100,347 14,225,546 — — — — 603,974 — 633,818 8,577,431 100,347 14,845,267 — 787,714 8,985,572 717,209 16,082,306 136 Page 173 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Nonmajor Governmental - Special Revenue Funds Combining Statement of Revenues, Expenditures and Changes in Fund Balances For the Fiscal Year Ended December 31, 2024 Motor Fuel Tax Revenues Taxes $ — Intergovernmental 1,376,883 Charges for Services — Investment Income 285,902 Miscellaneous 7,169 Total Revenues 1,669,954 Expenditures General Government — Public Safety — Highways and Streets 573,682 Capital Outlay 444,894 Debt Service Principal Retirement 27,997 Total Expenditures 1,046,573 Excess (Deficiency) of Revenues Over (Under) Expenditures 623,381 Other Financing Sources Transfers In — Net Change in Fund Balances 623,381 Fund Balances - Beginning 4,910,290 Adjustment - Nonmajor to Major — Fund Balances - Beginning as Adjusted 4,910,290 Fund Balances - Ending 5,533,671 137 Page 174 of 268  Central Business Roosevelt Fire District TIF Road TIF Services Forfeiture Totals — 153,896 335,388 — 489,284 — — — 94,475 1,471,358 — — 2,670,064 — 2,670,064 — 1,501 278,930 20,452 586,785 — 10,136 42,789 — 60,094 — 165,533 3,327,171 114,927 5,277,585 — 46,055 — — 46,055 — — 2,152,213 69,094 2,221,307 — — — — 573,682 — — 86,383 51,410 582,687 — — — — 27,997 — 46,055 2,238,596 120,504 3,451,728 — 119,478 1,088,575 (5,577) 1,825,857 — — 2,000,000 — 2,000,000 — 119,478 3,088,575 (5,577) 3,825,857 2,366,693 514,340 5,488,856 105,924 13,386,103 (2,366,693) — — — (2,366,693) — 514,340 5,488,856 105,924 11,019,410 — 633,818 8,577,431 100,347 14,845,267 138 Page 175 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Motor Fuel Tax - Special Revenue Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Revenues Intergovernmental Allotments $ 1,267,500 1,267,500 1,376,883 1,304,366 Investment Income 205,000 205,000 285,902 231,033 Miscellaneous 6,200 6,200 7,169 2,217 Total Revenues 1,478,700 1,478,700 1,669,954 1,537,616 Expenditures Highways and Streets Contracted Services Utilities 120,000 120,000 145,484 117,514 Street Maintenance 434,100 434,100 349,394 315,065 Maintenance - Equipment 32,700 32,700 2,374 13,772 Maintenance - Street Painting — — — 24,000 Commodities Salt 231,944 231,944 76,430 120,905 Capital Outlay Capital Improvements — — 444,894 124,299 Debt Service Principal Retirement — — 27,997 29,246 Total Expenditures 818,744 818,744 1,046,573 744,801 Excess (Deficiency) of Revenues Over (Under) Expenditures 659,956 659,956 623,381 792,815 Other Financing Sources/(Uses) Debt Issuance — — — 124,298 Transfers Out (3,420,880) (3,420,880) — — (3,420,880) (3,420,880) — 124,298 Net Change in Fund Balance (2,760,924) (2,760,924) 623,381 917,113 Fund Balance - Beginning 4,910,290 3,993,177 Fund Balance - Ending 5,533,671 4,910,290 139 Page 176 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Roosevelt Road TIF - Special Revenue Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Revenues Taxes Property Taxes $ 159,600 159,600 153,896 152,404 Investment Income 100 100 1,501 — Other Income — — 10,136 — Total Revenues 159,700 159,700 165,533 152,404 Expenditures General Government Contractual Services Award Program 15,000 30,000 15,000 — Professional Services - Other 65,420 71,674 31,055 32,788 Total Expenditures 80,420 101,674 46,055 32,788 Net Change in Fund Balance 79,280 58,026 119,478 119,616 Fund Balance - Beginning 514,340 394,724 Fund Balance - Ending 633,818 514,340 140 Page 177 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Fire Services - Special Revenue Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Revenues Taxes Property Taxes $ 335,700 335,700 335,388 188,623 Charges for Services 2,677,500 2,677,500 2,670,064 1,662,746 Investment Income 219,000 219,000 278,930 272,435 Miscellaneous — — 42,789 — Total Revenues 3,232,200 3,232,200 3,327,171 2,123,804 Expenditures Public Safety Contractual Services Fire Company Contributions 1,254,190 1,254,190 1,254,190 1,011,586 Intergovernmental Agreements 10,000 10,000 10,002 21,936 Professional Services - Audit 16,000 16,000 16,501 15,001 Facilities Maintenance 84,800 84,800 84,800 74,400 Maintenance - Equipment 1,000 1,000 11,930 8,033 Professional Services - Other — — 77 — Accounting Services 37,400 37,400 37,400 48,165 Ambulance Service 451,500 451,500 557,193 424,539 Commodities Supplies 186,350 186,350 180,120 — Capital Outlay Fire Station Renovation 250,000 250,000 22,875 8,972 Computer Equipment/Projects 7,800 7,800 10,758 3,533 Vehicles 146,609 146,609 — 745,353 Equipment — — 52,750 89,820 Total Expenditures 2,445,649 2,445,649 2,238,596 2,451,338 Excess (Deficiency) of Revenues Over (Under) Expenditures 786,551 786,551 1,088,575 (327,534) Other Financing Sources Transfers In — 2,000,000 2,000,000 — Net Change in Fund Balance 786,551 2,786,551 3,088,575 (327,534) Fund Balance - Beginning 5,488,856 5,816,390 Fund Balance - Ending 8,577,431 5,488,856 141 Page 178 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Forfeiture - Special Revenue Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Revenues Intergovernmental $ — 94,500 94,475 78,558 Investment Income — — 20,452 12,798 Total Revenues — 94,500 114,927 91,356 Expenditures Public Safety Contractual Services Federal Drug Forfeiture — 14,800 58,198 6,493 Seized Property — 10,900 10,896 — Reimbursement — — — 43,401 Capital Outlay Equipment — 94,900 51,410 7,856 Total Expenditures — 120,600 120,504 57,750 Net Change in Fund Balance — (26,100) (5,577) 33,606 Fund Balance - Beginning 105,924 72,318 Fund Balance - Ending 100,347 105,924 142 Page 179 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Corporate Reserve - Capital Projects Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Revenues Investment Income $ 25,000 25,000 38,675 28,399 Miscellaneous 18,600 18,600 116,129 18,600 Total Revenues 43,600 43,600 154,804 46,999 Expenditures General Government Contractual Services Maintenance - Buildings and Grounds — — — 1,520 Public Relations 125,000 125,000 63,110 6,252 Professional Services - Other 510,800 510,800 288,786 109,549 Capital Outlay Equipment — — — 10,000 Total Expenditures 635,800 635,800 351,896 127,321 Net Change in Fund Balance (592,200) (592,200) (197,092) (80,322) Fund Balance - Beginning 3,611,476 3,691,798 Fund Balance - Ending 3,414,384 3,611,476 143 Page 180 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Water and Sanitary Sewer - Enterprise Fund Schedule of Revenues, Expenses and Changes in Net Position - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operating Revenues Charges for Services Water Sales $ 7,904,100 7,904,100 7,578,602 7,622,285 Water Connection Fees 80,000 80,000 40,786 121,853 Sanitary Sewer Sales 5,706,000 5,706,000 5,111,525 5,038,454 Permits 30,000 30,000 23,000 100,800 Water Meter Sales 50,000 50,000 42,230 66,580 Inspections 44,000 44,000 50,888 42,726 Other 25,000 25,000 217,427 24,097 Fixed Fee - Water — — 176,823 13,438 Fixed Fee - Sewer — — 123,027 9,371 Illinois American Sanitary Sewer Fees 420,000 420,000 512,797 469,794 DuPage County Sanitary Sewer Fees 575,000 575,000 599,722 569,058 Sanitary Sewer Repair Reimbursements 144,000 144,000 145,147 144,760 Total Operating Revenues 14,978,100 14,978,100 14,621,974 14,223,216 Operating Expenses Water Division 13,361,372 15,338,609 7,090,734 6,151,899 Sanitary Sewer Division 5,288,158 6,467,945 1,782,829 1,642,263 Glenbard Wastewater Division 3,871,388 3,871,388 3,813,767 3,728,302 Depreciation and Amortization — — 2,226,961 2,141,571 Total Operating Expenses 22,520,918 25,677,942 14,914,291 13,664,035 Operating Income (Loss) (7,542,818) (10,699,842) (292,317) 559,181 Nonoperating Revenues (Expenses) Property Taxes — — — 70,419 Investment Income 1,024,000 1,024,000 1,221,075 1,113,273 Joint Venture Income — — 89,623 120,664 Interest Expense — — (316,188) (232) 1,024,000 1,024,000 994,510 1,304,124 Income (Loss) Before Transfers (6,518,818) (9,675,842) 702,193 1,863,305 Transfers Out (250,000) (250,000) (250,000) (150,000) Change in Net Position (6,768,818) (9,925,842) 452,193 1,713,305 Net Position - Beginning 83,817,370 82,104,065 Net Position - Ending 84,269,563 83,817,370 144 Page 181 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Water and Sanitary Sewer - Enterprise Fund Schedule of Operating Expenses - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operations Water Division Personnel Services Salaries - Pensionable $ 627,050 627,050 660,247 577,700 Salaries - Non-Pensionable 900 900 583 529 Salaries - Overtime 20,000 20,000 12,679 15,746 Salaries - Temporary Help 20,200 20,200 19,641 6,920 Additional Merit Awards 20,000 20,000 — — FICA 51,100 51,100 50,828 43,718 IMRF 28,500 28,500 29,358 23,855 IMRF - Pension Expense (Revenue) — — 211,349 (100,729) OPEB Expense — — 24,186 192 767,750 767,750 1,008,871 567,931 Contractual Services Employee Recognition 300 300 40 174 Dues and Subscriptions 3,800 3,800 3,932 3,578 Employee Education 7,000 7,000 3,480 1,556 Travel 5,200 5,200 1,238 1,133 Safety Training 2,000 2,000 — 1,504 Bank Charges 26,000 26,000 36,591 27,497 Postage 15,000 15,000 15,039 15,013 Maintenance - Buildings and Grounds 27,250 37,250 14,215 20,382 Maintenance - Equipment 39,855 39,855 18,575 10,184 Maintenance - R.O.W. 71,000 82,840 51,174 43,527 Maintenance - Water Meters 143,100 143,100 74,769 80,207 Maintenance - Water Tower 86,800 86,800 87,184 83,771 Maintenance - Hydrants 50,795 50,795 33,884 30,728 Maintenance - Valves 10,000 10,000 1,922 366 Maintenance - Other 25,000 25,000 23,474 19,803 Professional Services - Other 135,300 135,300 101,276 119,047 JULIE 10,500 10,500 16,863 10,154 Telecommunications 10,945 10,945 6,709 9,159 Utilities 50,000 50,000 67,609 59,355 Water Purchases 4,727,300 4,727,300 4,541,352 4,368,063 Facilities Maintenance 29,500 29,500 29,500 24,900 Service Charge - Accounting 183,350 183,350 183,350 178,700 145 Page 182 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Water and Sanitary Sewer - Enterprise Fund Schedule of Operating Expenses - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operations - Continued Water Division - Continued Contractual Services - Continued Insurance - Health $ 96,300 96,300 89,081 81,146 Insurance - Liability 65,600 65,600 65,600 55,200 Equipment Services 109,500 109,500 109,500 161,700 5,931,395 5,953,235 5,576,357 5,406,847 Commodities Office Supplies 2,200 2,200 1,540 1,484 Operating Supplies 4,500 4,500 3,840 1,650 Safety Related Equipment 4,000 4,000 3,568 3,458 Treatment Costs 4,000 4,000 — — Uniforms 2,875 2,875 3,260 2,711 17,575 17,575 12,208 9,303 Capital Outlay Equipment 85,726 94,326 28,431 42,975 Capital Projects 6,558,926 8,505,723 5,105,369 1,876,036 6,644,652 8,600,049 5,133,800 1,919,011 Less Capitalized Assets — — (4,640,502) (1,751,193) 6,644,652 8,600,049 493,298 167,818 Total Water Division 13,361,372 15,338,609 7,090,734 6,151,899 Sanitary Sewer Division Personnel Services Salaries - Pensionable 627,050 627,050 654,642 572,528 Salaries - Non-Pensionable 900 900 583 529 Salaries - Overtime 20,000 20,000 9,591 10,669 Salaries - Temporary Help 20,200 20,200 19,641 6,920 FICA 51,100 51,100 50,189 42,960 IMRF 28,500 28,500 28,977 23,452 747,750 747,750 763,623 657,058 146 Page 183 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Water and Sanitary Sewer - Enterprise Fund Schedule of Operating Expenses - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operations - Continued Sanitary Sewer Division - Continued Contractual Services Employee Recognition $ 200 200 — 134 Dues and Subscriptions 5,160 5,160 5,124 4,877 Employee Education 6,000 6,000 2,017 536 Travel 2,500 2,500 1,573 2,202 Bank Charges 26,000 26,000 36,591 27,497 Postage 15,000 15,000 15,016 15,000 Maintenance - Buildings and Grounds 9,800 14,800 3,910 9,762 Maintenance - Equipment 48,855 48,855 21,090 9,674 Maintenance - Streets 61,000 74,552 58,439 42,117 Maintenance - Storm Sewers 15,000 15,000 3,512 2,082 Maintenance - Sanitary Sewers 29,000 29,000 16,713 12,287 Professional Services 93,050 93,050 60,021 62,647 Sewer Reimbursement Plan Repairs 40,000 40,000 49,015 27,733 Overhead Sanitary Sewer Program 30,000 30,000 22,040 18,085 Telecommunications 8,025 8,025 4,042 3,871 Utilities 6,000 6,000 5,742 2,608 Facilities Maintenance 29,500 29,500 29,500 24,900 Service Charge - Accounting 183,350 183,350 183,350 178,700 Insurance - Health 96,300 96,300 87,833 78,389 Insurance - Liability 47,600 47,600 47,600 41,500 Equipment Services 230,300 230,300 230,300 242,700 982,640 1,001,192 883,428 807,301 Commodities Office Supplies 2,200 2,200 1,848 1,401 Operating Supplies 3,500 3,500 2,630 1,430 Safety Related Equipment 6,000 6,000 3,652 4,776 Uniforms 2,575 2,575 2,312 1,762 14,275 14,275 10,442 9,369 147 Page 184 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Water and Sanitary Sewer - Enterprise Fund Schedule of Operating Expenses - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operations - Continued Sanitary Sewer Division - Continued Capital Outlay Equipment $ 118,350 126,950 54,695 16,624 Capital Projects 3,425,143 4,577,778 2,983,935 1,146,440 3,543,493 4,704,728 3,038,630 1,163,064 Less Capitalized Assets — — (2,913,294) (994,529) Total Capital Outlay 3,543,493 4,704,728 125,336 168,535 Total Sanitary Sewer Division 5,288,158 6,467,945 1,782,829 1,642,263 Glenbard Wastewater Authority Division Contractual Services Wastewater Treatment 3,871,388 3,871,388 3,813,767 3,728,302 Total Operations 22,520,918 25,677,942 12,687,330 11,522,464 Depreciation and Amortization — — 2,226,961 2,141,571 Total Operating Expenses 22,520,918 25,677,942 14,914,291 13,664,035 148 Page 185 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Village Links/Reserve 22 - Enterprise Fund Schedule of Revenues, Expenses and Changes in Net Position - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operating Revenues Charges for Services Green Fees $ 2,500,000 2,500,000 2,973,624 2,683,417 Driving Range 450,000 450,000 538,898 482,627 Pro Shop - Sales/Inventory 170,000 170,000 215,982 259,718 Resident Cards 34,000 34,000 35,315 35,305 Motor Carts 600,000 600,000 705,841 689,168 Reserve 22 3,420,000 3,420,000 3,590,980 3,785,798 Miscellaneous 126,400 126,400 138,642 133,624 Total Operating Revenues 7,300,400 7,300,400 8,199,282 8,069,657 Operating Expenses Administration 628,643 628,643 1,031,350 300,650 Golf Course Maintenance 1,334,997 1,334,997 1,414,943 1,120,226 Golf Services 962,366 962,366 1,081,676 931,483 Reserve 22 3,210,565 3,210,565 3,376,769 3,389,814 Stormwater Management 51,624 51,624 15,887 20,310 Pro Shop 154,960 154,960 198,236 242,416 Mechanical Maintenance 356,014 363,489 367,173 348,159 Motor Cart 62,678 62,678 66,745 66,414 Capital Outlay 582,418 1,004,916 93,095 78,895 Depreciation and Amortization — — 461,385 399,143 Total Operating Expenses 7,344,265 7,774,238 8,107,259 6,897,510 Operating Income (43,865) (473,838) 92,023 1,172,147 Nonoperating Revenues (Expenses) Investment Income 56,000 56,000 72,095 62,280 Disposal of Capital Assets — — (6,199) (2,373) Principal Retirement (220,000) (220,000) — — Less Non-GAAP Item 220,000 220,000 — — Interest Expense (81,900) (81,900) (81,900) (93,465) (25,900) (25,900) (16,004) (33,558) Income Before Transfers (69,765) (499,738) 76,019 1,138,589 Transfers Out (100,000) (100,000) — — Change in Net Position (169,765) (599,738) 76,019 1,138,589 Net Position - Beginning 24,034,740 22,896,151 Net Position - Ending 24,110,759 24,034,740 149 Page 186 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Village Links/Reserve 22 - Enterprise Fund Scheduling of Operating Expenses - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operations Administration Personnel Services Salaries - Pensionable $ 201,400 201,400 206,796 187,278 FICA 15,407 15,407 15,270 13,955 IMRF 9,144 9,144 9,099 7,723 IMRF - Pension Expense (Revenue) — — 360,148 (235,366) OPEB Expense — — 37,176 24,546 225,951 225,951 628,489 (1,864) Contractual Services Dues and Subscriptions 29,142 29,142 27,750 9,084 Paying Agent Fee 550 550 550 — Professional Services - Other 225,000 225,000 233,246 175,179 Telecommunications 600 600 600 450 Insurance 17,200 17,200 16,808 16,515 Insurance - Liability 117,300 117,300 117,300 94,300 Maintenance - Equipment 500 500 — 262 390,292 390,292 396,254 295,790 Commodities Copier 10,200 10,200 4,461 398 Supplies 2,200 2,200 2,146 6,326 12,400 12,400 6,607 6,724 Total Administration 628,643 628,643 1,031,350 300,650 Golf Course Maintenance Personnel Services Salaries - Pensionable 435,000 435,000 611,886 440,265 Salaries - Non Pensionable 195,000 195,000 89,167 145,035 Salaries - Overtime 15,000 15,000 21,252 13,885 FICA 49,343 49,343 53,408 44,036 IMRF 19,749 19,749 27,564 18,011 714,092 714,092 803,277 661,232 150 Page 187 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Village Links/Reserve 22 - Enterprise Fund Scheduling of Operating Expenses - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operations - Continued Golf Course Maintenance - Continued Contractual Services Dues and Subscriptions $ 6,985 6,985 8,985 7,210 Recruiting and Testing 7,000 7,000 2,378 5,534 Employee Education 7,500 7,500 1,801 5,337 Travel 5,000 5,000.00 1,936 2,271 State Unemployment 18,000 18,000 18,954 8,397 Maintenance - Buildings and Grounds 7,600 7,600 21,806 5,488 Maintenance - Drain and Irrigation 20,000 20,000 36,138 17,448 Professional Services - Other 59,620 59,620 82,000 28,252 Telecommunications 3,500 3,500 1,818 2,793 Utilities 43,000 43,000 42,352 51,190 Insurance 51,700 51,700 46,996 46,561 229,905 229,905 265,164 180,481 Commodities Supplies 35,000 35,000 34,109 28,803 Fertilizer/Pesticides 45,000 45,000 39,469 33,513 Landscaping Supplies 30,000 30,000 23,457 17,803 Sod, Seed, Sand and Gravel 95,000 95,000 87,083 36,308 Treatment Costs 135,000 135,000 118,922 127,968 Uniforms 6,000 6,000 7,751 3,976 346,000 346,000 310,791 248,371 Vehicle Operation Gas and Oil 45,000 45,000 35,711 30,142 Total Golf Course Maintenance 1,334,997 1,334,997 1,414,943 1,120,226 151 Page 188 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Village Links/Reserve 22 - Enterprise Fund Scheduling of Operating Expenses - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operations - Continued Golf Services Salaries - Pensionable $ 325,292 325,292 300,277 298,865 Salaries - Non Pensionable 237,525 237,525 313,325 245,731 Salaries - Overtime 1,000 1,000 20 179 FICA 43,132 43,132 45,132 40,281 IMRF 14,768 14,768 12,623 11,903 621,717 621,717 671,377 596,959 Contractual Services Dues and Subscriptions 43,024 43,024 54,525 12,140 Recruiting and Testing 3,000 3,000 1,818 4,370 Employee Education 4,400 4,400 1,930 355 Travel — — 648 — State Unemployment 15,000 15,000 3,576 9,212 Credit Card Fees 70,425 70,425 102,297 85,379 Postage 1,000 1,000 694 389 Marketing 20,000 20,000 17,635 17,344 Printing 2,000 2,000 556 890 Professional Services - Other 4,800 4,800 35,004 8,943 Telecommunications 5,000 5,000 3,425 2,683 Utilities 40,000 40,000 35,270 39,918 Insurance 56,900 56,900 55,886 48,376 265,549 265,549 313,264 229,999 Commodities Supplies 70,000 70,000 89,783 99,243 Uniforms 5,000 5,000 7,152 5,182 75,000 75,000 96,935 104,425 Resalable Supplies and Expenses Handicap Fees 100 100 100 100 Total Golf Services 962,366 962,366 1,081,676 931,483 152 Page 189 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Village Links/Reserve 22 - Enterprise Fund Scheduling of Operating Expenses - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operations - Continued Reserve 22 Personnel Services Salaries - Pensionable $ 687,284 687,284 877,487 791,954 Salaries - Non Pensionable 853,732 853,732 747,241 812,814 Salaries - Overtime 15,000 15,000 5,584 12,027 Tips — — (4,827) (3,579) FICA 168,640 168,640 157,020 154,987 IMRF 31,224 31,224 48,734 40,665 1,755,880 1,755,880 1,831,239 1,808,868 Contractual Services Dues and Subscriptions 15,172 15,172 21,513 18,415 Recruiting and Testing 7,500 7,500 5,182 7,330 Employee Education 1,000 1,000 747 463 State Unemployment 15,000 15,000 4,622 9,811 Credit Card Fees 80,000 80,000 101,623 85,796 Insurance - Liability 2,400 2,400 2,487 2,343 Postage and Shipping 600 600 75 681 Marketing 12,000 12,000 17,634 12,766 Professional Services - Other 21,870 21,870 37,490 31,050 Telecommunications 4,000 4,000 6,097 4,795 Utilities 40,000 40,000 43,606 43,910 Insurance 101,000 101,000 89,317 69,874 300,542 300,542 330,393 287,234 Commodities Supplies 100,000 100,000 112,840 116,292 Uniforms 10,000 10,000 2,746 9,536 Linens and Rentals 38,000 38,000 38,798 41,179 148,000 148,000 154,384 167,007 153 Page 190 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Village Links/Reserve 22 - Enterprise Fund Scheduling of Operating Expenses - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operations - Continued Reserve 22 - Continued Resalable Supplies and Expenses Dry Goods $ 38,000 38,000 33,919 33,884 Beer 145,600 145,600 125,384 124,680 Wine 74,400 74,400 67,034 71,704 Spirits 80,850 80,850 95,069 101,390 Food/Resale 608,000 608,000 660,606 722,705 Beverage/Resale 59,293 59,293 78,741 72,342 1,006,143 1,006,143 1,060,753 1,126,705 Total Reserve 22 3,210,565 3,210,565 3,376,769 3,389,814 Stormwater Management Personnel Services Salaries - Pensionable 12,500 12,500 10,241 13,864 Salaries - Overtime — — 604 — FICA 956 956 778 1,011 IMRF 568 568 464 559 14,024 14,024 12,087 15,434 Contractual Services Maintenance - Buildings and Grounds 32,000 32,000 273 — Insurance 600 600 1,552 2,556 32,600 32,600 1,825 2,556 Commodities Sod, Seed, Sand and Gravel 5,000 5,000 1,975 2,320 Total Stormwater Management 51,624 51,624 15,887 20,310 Pro Shop Personnel Services Salaries - Pensionable 22,248 22,248 20,594 20,253 FICA 1,702 1,702 1,488 1,464 IMRF 1,010 1,010 888 812 24,960 24,960 22,970 22,529 154 Page 191 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Village Links/Reserve 22 - Enterprise Fund Scheduling of Operating Expenses - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operations - Continued Pro Shop - Continued Contractual Services Credit Card Fees $ 4,500 4,500 6,501 5,450 Insurance 5,500 5,500 4,571 4,556 10,000 10,000 11,072 10,006 Commodities Supplies 1,000 1,000 3,029 180 Resalable Supplies and Expenses Products/Resale 119,000 119,000 161,165 209,701 Total Pro Shop 154,960 154,960 198,236 242,416 Mechanical Maintenance Personnel Services Salaries - Full Time 177,300 177,300 174,391 134,153 Salaries - Overtime — — 825 — FICA 13,564 13,564 13,057 9,983 IMRF 8,050 8,050 7,788 5,532 198,914 198,914 196,061 149,668 Contractual Services Maintenance - Buildings and Grounds 29,500 36,975 45,615 36,044 Insurance 8,400 8,400 18,277 14,511 Maintenance - Equipment 103,000 103,000 94,581 135,489 140,900 148,375 158,473 186,044 Commodities Supplies 16,200 16,200 12,639 12,447 Total Mechanical Maintenance 356,014 363,489 367,173 348,159 155 Page 192 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Village Links/Reserve 22 - Enterprise Fund Scheduling of Operating Expenses - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operations - Continued Motor Cart Personnel Services Salaries - Pensionable $ 35,000 35,000 46,868 44,713 FICA 2,678 2,678 3,585 3,421 37,678 37,678 50,453 48,134 Vehicle Operation Gas and Oil 25,000 25,000 16,292 18,280 Total Motor Cart 62,678 62,678 66,745 66,414 Total Operations 6,761,847 6,769,322 7,552,779 6,419,472 Capital Outlay Building — 379,000 (1,376) 1,375 Equipment 582,418 625,916 1,202,832 539,600 Less Capitalized Assets — — (1,108,361) (462,080) 582,418 1,004,916 93,095 78,895 Debt Service Principal Retirement (220,000) (220,000) — — Less Non-GAAP Item 220,000 220,000 — — Interest and Fiscal Charges (81,900) (81,900) (81,900) (93,465) Total Debt Service (81,900) (81,900) (81,900) (93,465) Depreciation and Amortization — — 461,385 399,143 Total Operating Expenses 7,426,165 7,856,138 8,189,159 6,990,975 156 Page 193 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Parking - Enterprise Fund Schedule of Revenues, Expenses and Changes in Net Position - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operating Revenues Charges for Services Leased Lots $ 462,000 462,000 448,785 411,748 Duane Street Parking Lot 18,000 18,000 35,308 27,980 Coin Collections 6,500 6,500 8,686 4,167 Other 10,323 10,323 1,553,176 13,349 Total Operating Revenues 496,823 496,823 2,045,955 457,244 Operating Expenses Operations 525,785 561,932 336,646 346,139 Depreciation — — 556,945 518,233 Total Operating Expenses 525,785 561,932 893,591 864,372 Operating Income (Loss) (28,962) (65,109) 1,152,364 (407,128) Nonoperating Revenues Investment Income 86,000 86,000 101,355 95,963 Income (Loss) before Transfers 57,038 20,891 1,253,719 (311,165) Transfers Out (75,000) (75,000) (75,000) (75,000) Change in Net Position (17,962) (54,109) 1,178,719 (386,165) Net Position - Beginning 18,872,870 19,259,035 Net Position - Ending 20,051,589 18,872,870 157 Page 194 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Parking - Enterprise Fund Scheduling of Operating Expenses - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operations Contractual Services Bank Charges $ 3,600 3,600 5,002 2,781 Printing 475 475 — — Maintenance - Building and Grounds 178,250 178,250 106,216 111,550 Maintenance - Equipment — — — 42,068 Maintenance - Other 5,160 5,160 5,454 5,094 Rental - Lease 28,400 28,400 24,201 24,538 Utilities 5,600 5,600 4,889 3,735 Accounting Service Charge 23,800 23,800 23,800 23,000 Administrative Service Charge 113,800 113,800 113,800 111,200 Forestry Services 20,000 20,000 20,000 20,000 Insurance - Liability 2,900 2,900 2,900 2,600 381,985 381,985 306,262 346,566 Commodities Supplies 3,800 3,800 968 1,183 Capital Outlay Capital Improvements — 36,147 29,416 — Parking Garage — — — 112,141 Equipment 140,000 140,000 1,548,509 — 140,000 176,147 1,577,925 112,141 Less Capitalized Assets — — (1,548,509) (113,751) 140,000 176,147 29,416 (1,610) Total Operations 525,785 561,932 336,646 346,139 Depreciation — — 556,945 518,233 Total Operating Expenses 525,785 561,932 893,591 864,372 158 Page 195 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Residential Solid Waste - Enterprise Fund Schedule of Revenues, Expenses and Changes in Net Position - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operating Revenues Charges for Services Trash Disposal $ 2,033,900 2,033,900 2,043,395 1,955,039 Operating Expenses Operations 2,074,650 2,074,650 1,968,462 1,932,515 Depreciation — — 7,320 7,320 Total Operating Expenses 2,074,650 2,074,650 1,975,782 1,939,835 Operating Income (Loss) (40,750) (40,750) 67,613 15,204 Nonoperating Revenues Investment Income 49,000 49,000 37,254 48,336 Change in Net Position 8,250 8,250 104,867 63,540 Net Position - Beginning 562,725 499,185 Net Position - Ending 667,592 562,725 159 Page 196 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Residential Solid Waste - Enterprise Fund Schedule of Operating Expenses - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operations Contractual Services Bank Charges $ 28,000 28,000 36,591 27,497 Postage 16,500 16,500 15,000 15,000 Maintenance - Equipment 3,200 3,200 1,284 1,684 Professional Services - Other 5,000 5,000 3,717 3,805 Professional Services - Removal Waste 1,665,050 1,665,050 1,654,257 1,623,017 Brush Pickup Service 148,000 148,000 134,000 133,515 Utilities 600 600 385 200 Toter Replacement 35,000 35,000 20,928 23,117 Service Charge 102,300 102,300 102,300 104,200 2,003,650 2,003,650 1,968,462 1,932,035 Capital Outlay Equipment 71,000 71,000 — 480 Total Operations 2,074,650 2,074,650 1,968,462 1,932,515 Depreciation — — 7,320 7,320 Total Operating Expenses 2,074,650 2,074,650 1,975,782 1,939,835 160 Page 197 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Internal Service Funds Combining Statement of Net Position December 31, 2024 Equipment Insurance Services Totals ASSETS Current Assets Cash and Investments $ 1,013,712 5,035,465 6,049,177 Receivables - Net of Allowances Accounts 376,705 2,709 379,414 Prepaids 965,409 — 965,409 Inventories — 124,961 124,961 Total Current Assets 2,355,826 5,163,135 7,518,961 Noncurrent Assets Capital Assets Nondepreciable — 1,781,386 1,781,386 Depreciable — 7,252,804 7,252,804 Accumulated Depreciation — (5,185,563) (5,185,563) Total Noncurrent Assets — 3,848,627 3,848,627 Total Assets 2,355,826 9,011,762 11,367,588 LIABILITIES Current Liabilities Accounts Payable 5,446 40,631 46,077 Accrued Payroll — 13,917 13,917 Compensated Absences Payable — 34,960 34,960 Total Current Liabilities 5,446 89,508 94,954 Noncurrent Liabilities Compensated Absences Payable — 12,284 12,284 Total Liabilities 5,446 101,792 107,238 NET POSITION Investment in Capital Assets — 3,848,627 3,848,627 Restricted — 178,477 178,477 Unrestricted 2,350,380 4,882,866 7,233,246 Total Net Position 2,350,380 8,909,970 11,260,350 161 Page 198 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Internal Service Funds Combining Statement of Revenues, Expenses and Changes in Net Position For the Fiscal Year Ended December 31, 2024 Equipment Insurance Services Totals Operating Revenues Interfund Services $ 4,051,814 1,479,634 5,531,448 Operating Expenses Operations 4,062,536 1,047,060 5,109,596 Depreciation — 513,020 513,020 Total Operating Expenses 4,062,536 1,560,080 5,622,616 Operating (Loss) (10,722) (80,446) (91,168) Nonoperating Revenues Investment Income 36,197 308,802 344,999 Other Income 2,517 — 2,517 Disposal of Capital Assets — 31,822 31,822 38,714 340,624 379,338 Change in Net Position 27,992 260,178 288,170 Net Position - Beginning 2,322,388 8,649,792 10,972,180 Net Position - Ending 2,350,380 8,909,970 11,260,350 162 Page 199 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Internal Service Funds Combining Statement of Cash Flows For the Fiscal Year Ended December 31, 2024 Equipment Insurance Services Totals Cash Flows from Operating Activities Interfund Services Provided $ 4,051,814 1,479,634 5,531,448 Payments to Suppliers (4,273,889) (589,114) (4,863,003) Payments to Employees — (404,787) (404,787) (222,075) 485,733 263,658 Cash Flows from Capital and Related Financing Activities Disposal of Capital Assets — 33,304 33,304 Purchase of Capital Assets — (1,993,902) (1,993,902) — (1,960,598) (1,960,598) Cash Flows from Investing Activities Investment Income 36,197 308,802 344,999 Net Change in Cash and Cash Equivalents (185,878) (1,166,063) (1,351,941) Cash and Cash Equivalents - Beginning 1,199,590 6,201,528 7,401,118 Cash and Cash Equivalents - Ending 1,013,712 5,035,465 6,049,177 Reconciliation of Operating Income to Net Cash Provided (Used) by Operating Activities Operating Income (Loss) (10,722) (80,446) (91,168) Adjustments to Reconcile Operating Income to Net Cash Provided by (Used in) Operating Activities Depreciation Expense — 513,020 513,020 Other Income (Expense) 2,517 — 2,517 (Increase) Decrease in Current Assets (218,616) 13,254 (205,362) Increase (Decrease) in Current Liabilities 4,746 39,905 44,651 Net Cash Provided by Operating Activities (222,075) 485,733 263,658 163 Page 200 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Insurance - Internal Service Fund Schedule of Revenues, Expenses and Changes in Net Position - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operating Revenues Interfund Services Charges for Services $ 3,862,700 3,862,700 3,445,864 3,203,272 Employee Contributions 698,375 698,375 605,950 575,813 Total Operating Revenues 4,561,075 4,561,075 4,051,814 3,779,085 Operating Expenses Operations Risk Management 9,000 9,000 5,587 9,379 Safety Program — — — 601 Insurance - Liability 829,800 829,800 793,019 718,141 Wellness 28,600 28,600 28,244 14,045 Insurance - Hospital, Group Life 3,724,800 3,724,800 3,235,686 3,085,939 Total Operating Expenses 4,592,200 4,592,200 4,062,536 3,828,105 Operating (Loss) (31,125) (31,125) (10,722) (49,020) Nonoperating Revenues Investment Income 34,000 34,000 36,197 46,258 Other Income 5,000 5,000 2,517 78,239 39,000 39,000 38,714 124,497 Change in Net Position 7,875 7,875 27,992 75,477 Net Position - Beginning 2,322,388 2,246,911 Net Position - Ending 2,350,380 2,322,388 164 Page 201 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Equipment Services - Internal Service Fund Schedule of Revenues, Expenses and Changes in Net Position - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operating Revenues Interfund Services Charges for Services $ 1,468,900 1,468,900 1,479,634 1,871,128 Operating Expenses Operations 3,368,995 3,479,452 1,047,060 1,067,547 Depreciation — — 513,020 569,411 Total Operating Expenses 3,368,995 3,479,452 1,560,080 1,636,958 Operating Income (Loss) (1,900,095) (2,010,552) (80,446) 234,170 Nonoperating Revenues Investment Income 200,000 200,000 308,802 315,164 Disposal of Capital Assets — — 31,822 345,931 200,000 200,000 340,624 661,095 Change in Net Position (1,700,095) (1,810,552) 260,178 895,265 Net Position - Beginning 8,649,792 7,754,527 Net Position - Ending 8,909,970 8,649,792 165 Page 202 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Equipment Services - Internal Service Fund Schedule of Operating Expenses - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operations Personnel Services Salaries - Pensionable $ 386,500 386,500 342,332 386,395 Salaries - Non-Pensionable 28,500 28,500 19,715 4,667 Salaries - Overtime 6,000 6,000 3,236 13,725 FICA 32,200 32,200 26,497 30,921 IMRF 17,800 17,800 14,854 16,860 471,000 471,000 406,634 452,568 Contractual Services Insurance - Liability 18,800 18,800 18,800 15,500 Facility Maintenance 17,500 17,500 17,500 15,100 Maintenance - Buildings and Grounds 12,450 12,450 11,925 18,036 Maintenance - Equipment 1,600 1,600 1,397 1,503 Professional Services - Other 10,700 10,700 9,057 5,370 Dues and Subscriptions 250 250 252 64 Telecommunications 15,770 15,770 15,961 16,790 Rented Equipment 3,200 3,200 2,284 2,370 Travel 1,400 1,400 511 811 Insurance - Health 67,400 67,400 51,776 64,566 Service Charge - Public Works 16,700 16,700 16,700 14,700 Equipment Services 6,900 6,900 6,900 9,000 Employee Education 2,780 2,780 1,092 998 Disposal Cost 500 500 450 — 175,950 175,950 154,605 164,808 Commodities Supplies 11,500 11,500 10,697 9,961 Safety Related Equipment 1,600 1,600 1,258 1,450 Uniforms 2,025 2,025 1,615 1,334 Parts 100,000 100,000 117,930 94,169 115,125 115,125 131,500 106,914 166 Page 203 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Equipment Services - Internal Service Fund Schedule of Operating Expenses - Budget and Actual - Continued For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Operations - Continued Vehicle Operations Gas and Oil $ 387,870 387,870 244,685 220,928 Repairs 60,000 60,000 75,168 82,004 Tires 12,000 12,000 20,328 8,878 License Plates 3,050 3,050 1,625 3,103 462,920 462,920 341,806 314,913 Capital Outlay Equipment 5,000 5,000 4,205 19,647 Vehicles 2,139,000 2,249,457 2,002,212 1,060,661 2,144,000 2,254,457 2,006,417 1,080,308 Less Capitalized Assets — — (1,993,902) (1,051,964) 2,144,000 2,254,457 12,515 28,344 Total Operations 3,368,995 3,479,452 1,047,060 1,067,547 Depreciation — — 513,020 569,411 Total Operating Expenses 3,368,995 3,479,452 1,560,080 1,636,958 167 Page 204 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Police Pension - Pension Trust Fund Schedule of Changes in the Fiduciary Net Position - Budget and Actual For the Fiscal Year Ended December 31, 2024 (with Comparative Actual Amounts for the Fiscal Year Ended December 31, 2023) 12/31/24 Original Final 12/31/23 Budget Budget Actual Actual Additions Contributions - Employer $ 2,152,200 2,152,200 2,152,200 2,082,300 Contributions - Plan Members 492,000 492,000 495,063 445,261 Other — — 63,745 117,266 Total Contributions 2,644,200 2,644,200 2,711,008 2,644,827 Investment Income Interest Earned 97,100 97,100 11,350 25,318 Net Change in Fair Value 2,300,200 2,300,200 3,652,451 4,583,856 2,397,300 2,397,300 3,663,801 4,609,174 Less Investment Expenses (55,350) (55,350) (24,240) (52,470) Net Investment Income 2,341,950 2,341,950 3,639,561 4,556,704 Total Additions 4,986,150 4,986,150 6,350,569 7,201,531 Deductions Administration 63,500 63,500 62,171 68,181 Benefits and Refunds 3,011,000 3,063,000 3,073,353 2,853,792 Total Deductions 3,074,500 3,126,500 3,135,524 2,921,973 Change in Fiduciary Net Position 1,911,650 1,859,650 3,215,045 4,279,558 Net Position Restricted for Pensions Beginning 38,269,224 33,989,666 Ending 41,484,269 38,269,224 168 Page 205 of 268 SUPPLEMENTAL SCHEDULES 169 Page 206 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Schedule of Insurance in Force December 31, 2024 Expiration Amount of Date of Insured Description of Coverage Coverage Policy Village of Glen Ellyn Property $ 500,000,000 05/01/25 Liability 15,000,000 05/01/25 Workers Compensation Statutory 05/01/25 Boiler and Machinery 100,000,000 05/01/25 Cyber 2,000,000 05/01/25 Storage Tank Liability 2,000,000 05/01/25 Crime 1,000,000 05/01/25 Public Officials Bond 112,000 05/01/25 Aviation 1,000,000 05/01/25 170 Page 207 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Long-Term Debt Requirements General Obligation Bonds of 2015 December 31, 2024 Date of Issue August 6, 2015 Date of Maturity January 1, 2032 Authorized Issue $13,435,000 Interest Rates 2.00% - 4.00% Interest Dates July 1 and January 1 Principal Maturity Date January 1 Payable at US Bank CURRENT AND LONG-TERM PRINCIPAL AND INTEREST REQUIREMENTS Tax Levy Tax Levy Requirements Interest Due On Year Principal Interest Totals Jul. 1 Amount Jan. 1 Amount 2024 $ 655,000 163,044 818,044 2025 81,522 2026 81,522 2025 675,000 143,394 818,394 2026 71,697 2027 71,697 2026 695,000 123,144 818,144 2027 61,572 2028 61,572 2027 715,000 102,292 817,292 2028 51,146 2029 51,146 2028 735,000 79,056 814,056 2029 39,528 2030 39,528 2029 760,000 54,250 814,250 2030 27,125 2031 27,125 2030 790,000 27,650 817,650 2031 13,825 2032 13,825 5,025,000 692,830 5,717,830 346,415 346,415 171 Page 208 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Long-Term Debt Requirements General Obligation Bonds of 2018 December 31, 2024 Date of Issue December 27, 2018 Date of Maturity January 1, 2039 Authorized Issue $9,900,000 Interest Rates 3.00% - 3.50% Interest Dates July 1 and January 1 Principal Maturity Date January 1 Payable at US Bank CURRENT AND LONG-TERM PRINCIPAL AND INTEREST REQUIREMENTS Tax Levy Tax Levy Requirements Interest Due On Year Principal Interest Totals Jul. 1 Amount Jan. 1 Amount 2024 $ 440,000 243,468 683,468 2025 121,734 2026 121,734 2025 450,000 230,268 680,268 2026 115,134 2027 115,134 2026 465,000 216,768 681,768 2027 108,384 2028 108,384 2027 480,000 202,818 682,818 2028 101,409 2029 101,409 2028 495,000 188,418 683,418 2029 94,209 2030 94,209 2029 505,000 173,568 678,568 2030 86,784 2031 86,784 2030 525,000 158,418 683,418 2031 79,209 2032 79,209 2031 540,000 142,668 682,668 2032 71,334 2033 71,334 2032 555,000 125,118 680,118 2033 62,559 2034 62,559 2033 575,000 107,082 682,082 2034 53,541 2035 53,541 2034 595,000 87,676 682,676 2035 43,838 2036 43,838 2035 615,000 66,850 681,850 2036 33,425 2037 33,425 2036 635,000 45,324 680,324 2037 22,662 2038 22,662 2037 660,000 23,100 683,100 2038 11,550 2039 11,550 7,535,000 2,011,544 9,546,544 1,005,772 1,005,772 172 Page 209 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Long-Term Debt Requirements General Obligation Bonds of 2020 December 31, 2024 Date of Issue September 30, 2020 Date of Maturity January 1, 2040 Authorized Issue $9,475,000 Interest Rates 1.45% - 3.00% Interest Dates July 1 and January 1 Principal Maturity Date January 1 Payable at US Bank CURRENT AND LONG-TERM PRINCIPAL AND INTEREST REQUIREMENTS Tax Levy Tax Levy Requirements Interest Due On Year Principal Interest Totals Jul. 1 Amount Jan. 1 Amount 2024 $ 445,000 166,322 611,322 2025 83,161 2026 83,161 2025 455,000 152,972 607,972 2026 76,486 2027 76,486 2026 470,000 139,322 609,322 2027 69,661 2028 69,661 2027 485,000 125,222 610,222 2028 62,611 2029 62,611 2028 500,000 110,672 610,672 2029 55,336 2030 55,336 2029 515,000 95,674 610,674 2030 47,837 2031 47,837 2030 520,000 86,660 606,660 2031 43,330 2032 43,330 2031 530,000 77,560 607,560 2032 38,780 2033 38,780 2032 540,000 69,876 609,876 2033 34,938 2034 34,938 2033 545,000 61,776 606,776 2034 30,888 2035 30,888 2034 555,000 53,600 608,600 2035 26,800 2036 26,800 2035 565,000 43,888 608,888 2036 21,944 2037 21,944 2036 575,000 34,000 609,000 2037 17,000 2038 17,000 2037 585,000 22,500 607,500 2038 11,250 2039 11,250 2038 600,000 10,800 610,800 2039 5,400 2040 5,400 7,885,000 1,250,844 9,135,844 625,422 625,422 173 Page 210 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Long-Term Debt Requirements General Obligation Bonds of 2021A December 31, 2024 Date of Issue November 10, 2021 Date of Maturity January 1, 2033 Authorized Issue $2,560,000 Interest Rates 2.00% - 4.00% Interest Dates July 1 and January 1 Principal Maturity Date January 1 Payable at US Bank CURRENT AND LONG-TERM PRINCIPAL AND INTEREST REQUIREMENTS Tax Levy Tax Levy Requirements Interest Due On Year Principal Interest Totals Jul. 1 Amount Jan. 1 Amount 2024 $ 230,000 73,100 303,100 2025 36,550 2026 36,550 2025 240,000 63,900 303,900 2026 31,950 2027 31,950 2026 250,000 54,300 304,300 2027 27,150 2028 27,150 2027 260,000 44,300 304,300 2028 22,150 2029 22,150 2028 270,000 33,900 303,900 2029 16,950 2030 16,950 2029 280,000 23,100 303,100 2030 11,550 2031 11,550 2030 290,000 14,700 304,700 2031 7,350 2032 7,350 2031 300,000 6,000 306,000 2032 3,000 2033 3,000 2,120,000 313,300 2,433,300 156,650 156,650 174 Page 211 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Long-Term Debt Requirements General Obligation Bonds of 2021B December 31, 2024 Date of Issue November 10, 2021 Date of Maturity January 1, 2036 Authorized Issue $3,935,000 Interest Rates 1.65% - 2.60% Interest Dates July 1 and January 1 Principal Maturity Date January 1 Payable at US Bank CURRENT AND LONG-TERM PRINCIPAL AND INTEREST REQUIREMENTS Tax Levy Tax Levy Requirements Interest Due On Year Principal Interest Totals Jul. 1 Amount Jan. 1 Amount 2024 $ 35,000 92,164 127,164 2025 46,082 2026 46,082 2025 35,000 91,588 126,588 2026 45,794 2027 45,794 2026 35,000 91,010 126,010 2027 45,505 2028 45,505 2027 35,000 90,222 125,222 2028 45,111 2029 45,111 2028 35,000 89,436 124,436 2029 44,718 2030 44,718 2029 35,000 88,648 123,648 2030 44,324 2031 44,324 2030 40,000 87,860 127,860 2031 43,930 2032 43,930 2031 855,000 86,960 941,960 2032 43,480 2033 43,480 2032 875,000 67,294 942,294 2033 33,647 2034 33,647 2033 895,000 46,296 941,296 2034 23,148 2035 23,148 2034 920,000 23,920 943,920 2035 11,960 2036 11,960 3,795,000 855,398 4,650,398 427,699 427,699 175 Page 212 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Long-Term Debt Requirements General Obligation Bonds of 2024 December 31, 2024 Date of Issue June 13, 2024 Date of Maturity January 1, 2044 Authorized Issue $6,270,000 Interest Rates 4.00% - 5.00% Interest Dates July 1 and January 1 Principal Maturity Date January 1 Payable at US Bank CURRENT AND LONG-TERM PRINCIPAL AND INTEREST REQUIREMENTS Tax Levy Tax Levy Requirements Interest Due On Year Principal Interest Totals Jul. 1 Amount Jan. 1 Amount 2024 $ 195,000 281,024 476,024 2025 140,512 2026 140,512 2025 205,000 271,274 476,274 2026 135,637 2027 135,637 2026 215,000 261,026 476,026 2027 130,513 2028 130,513 2027 225,000 250,276 475,276 2028 125,138 2029 125,138 2028 240,000 239,024 479,024 2029 119,512 2030 119,512 2029 250,000 227,024 477,024 2030 113,512 2031 113,512 2030 260,000 214,526 474,526 2031 107,263 2032 107,263 2031 275,000 201,525 476,525 2032 100,763 2033 100,762 2032 290,000 187,776 477,776 2033 93,888 2034 93,888 2033 305,000 173,274 478,274 2034 86,637 2035 86,637 2034 320,000 158,024 478,024 2035 79,012 2036 79,012 2035 335,000 142,024 477,024 2036 71,012 2037 71,012 2036 350,000 125,274 475,274 2037 62,637 2038 62,637 2037 370,000 107,776 477,776 2038 53,888 2039 53,888 2038 390,000 89,274 479,274 2039 44,637 2040 44,637 2039 405,000 69,774 474,774 2040 34,887 2041 34,887 2040 425,000 53,576 478,576 2041 26,788 2042 26,788 2041 440,000 36,578 476,578 2042 18,289 2043 18,289 2042 460,000 18,976 478,976 2043 9,488 2044 9,488 5,955,000 3,108,025 9,063,025 1,554,013 1,554,012 176 Page 213 of 268  STATISTICAL SECTION (Unaudited) This part of the annual comprehensive financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the Village’s overall financial health. Financial Trends These schedules contain trend information to help the reader understand how the Village’s financial performance and well-being have changed over time. Revenue Capacity These schedules contain information to help the reader assess the Village’s most significant local revenue sources. Debt Capacity These schedules present information to help the reader assess the affordability of the Village’s current levels of outstanding debt and the government’s ability to issue additional debt in the future. Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the Village’s financial activities take place. Operating Information These schedules contain service and infrastructure data to help the reader understand how the information in the Village’s financial report relates to the services the Village provides and the activities it performs. 177 Page 214 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Net Position by Component - Last Ten Fiscal Years December 31, 2024 (Unaudited) See Following Page 178 Page 215 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Net Position by Component - Last Ten Fiscal Years* December 31, 2024 (Unaudited) 2015 2016 2017 Governmental Activities Net Investment in Capital Assets $ 103,297,380 107,304,071 105,144,748 Restricted 2,143,678 2,827,478 3,674,848 Unrestricted 7,039,059 4,583,470 5,209,892 Total Governmental Activities Net Position 112,480,117 114,715,019 114,029,488 Business-Type Activities Net Investment in Capital Assets 64,335,194 64,674,424 64,983,642 Restricted — — — Unrestricted 26,107,747 28,542,897 30,753,776 Total Business-Type Activities Net Position 90,442,941 93,217,321 95,737,418 Primary Government Net Investment in Capital Assets 167,632,574 171,978,495 170,128,390 Restricted 2,143,678 2,827,478 3,674,848 Unrestricted 33,146,806 33,126,367 35,963,668 Total Primary Government Net Position 202,923,058 207,932,340 209,766,906 Data Source: Audited Financial Statements * Accrual Basis of Accounting 179 Page 216 of 268  2018 2019 2020 2021 2022 2023 2024 106,514,073 107,287,418 99,448,345 90,906,158 95,587,385 103,276,419 115,137,951 3,339,095 5,198,690 6,993,248 10,186,878 11,377,215 13,419,233 17,958,808 6,299,175 8,402,147 16,284,572 20,756,456 23,288,276 17,946,666 5,630,352 116,152,343 120,888,255 122,726,165 121,849,492 130,252,876 134,642,318 138,727,111 65,535,800 65,484,105 74,090,647 80,073,634 84,199,925 84,758,371 91,595,045 2,186,651 1,017,736 5,561,859 1,525,616 1,801,405 3,221,480 1,380,257 30,162,474 34,064,500 29,936,859 40,974,216 38,757,106 39,307,854 36,124,201 97,884,925 100,566,341 109,589,365 122,573,466 124,758,436 127,287,705 129,099,503 172,049,873 172,771,523 173,538,992 170,979,792 179,787,310 188,034,790 206,732,996 5,525,746 6,216,426 12,555,107 11,712,494 13,178,620 16,640,713 19,339,065 36,461,649 42,466,647 46,221,431 61,730,672 62,045,382 57,254,520 41,754,553 214,037,268 221,454,596 232,315,530 244,422,958 255,011,312 261,930,023 267,826,614 180 Page 217 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Changes in Net Position - Last Ten Fiscal Years* December 31, 2024 (Unaudited) 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Expenses Governmental Activities General Government $ 4,473,218 5,720,983 6,554,540 5,253,815 5,548,462 4,438,551 4,774,171 7,555,231 6,911,524 9,275,308 Public Safety 11,822,395 11,197,328 12,702,110 13,225,937 12,312,892 13,874,103 10,764,052 13,795,988 14,219,450 16,160,252 Highways and Streets 6,310,002 6,012,520 6,702,687 8,594,681 8,141,433 5,452,644 8,505,285 9,744,263 13,585,925 11,507,753 Interest on Long-Term Debt 353,830 524,584 503,767 657,888 758,257 900,279 1,257,651 765,290 726,082 687,866 Total Governmental Activities Expenses 22,959,445 23,455,415 26,463,104 27,732,321 26,761,044 24,665,577 25,301,159 31,860,772 35,442,981 37,631,179 Business-Type Activities Water and Sanitary Sewer 12,362,899 12,303,656 12,208,313 12,475,582 13,008,514 12,950,540 12,296,688 13,056,020 13,664,267 15,230,479 Village Links/Reserve 22 5,006,668 5,093,625 5,466,490 5,197,424 5,356,994 4,501,067 4,949,381 6,371,791 6,993,348 8,195,358 Parking 307,393 365,252 292,011 485,308 453,675 311,798 872,507 910,026 864,372 893,591 Residential Solid Waste 1,517,148 1,500,067 1,627,643 1,641,272 1,601,899 1,814,761 1,739,002 1,904,039 1,939,835 1,975,782 Total Business-Type Activities Expenses 19,194,108 19,262,600 19,594,457 19,799,586 20,421,082 19,578,166 19,857,578 22,241,876 23,461,822 26,295,210 Total Primary Government Expenses 42,153,553 42,718,015 46,057,561 47,531,907 47,182,126 44,243,743 45,158,737 54,102,648 58,904,803 63,926,389 Program Revenues Governmental Activities Charges for Services General Government 2,196,239 2,123,243 2,266,598 2,262,692 2,679,881 2,952,575 2,413,475 2,336,313 3,581,276 2,858,121 Public Safety 1,609,516 1,662,224 2,324,239 2,546,808 3,009,399 2,424,639 2,324,688 2,354,817 2,391,021 3,428,351 Highways and Streets 111,035 27,993 38,628 83,951 74,966 4,744 8,790 93,979 53,008 30,028 Operating Grants/Contributions 9,597 15,953 31,707 880,782 170,893 1,580,861 453,391 565,141 487,476 333,206 Capital Grants/Contributions 33,750 929,768 279,500 3,076,657 44,424 — 101,434 — — — Total Governmental Activities Program Revenues 3,960,137 4,759,181 4,940,672 8,850,890 5,979,563 6,962,819 5,301,778 5,350,250 6,512,781 6,649,706 Business-Type Activities Charges for Services Water and Sanitary Sewer 14,037,835 14,118,999 14,323,212 14,072,812 13,588,509 14,425,637 14,206,220 13,864,432 14,223,216 14,621,974 Village Links/Reserve 22 5,270,242 5,158,503 5,273,933 5,173,718 5,303,640 5,182,809 6,578,859 6,907,626 8,069,657 8,199,282 Parking 387,932 396,237 380,318 434,162 418,838 272,627 356,148 444,755 457,244 2,045,955 Residential Solid Waste 1,618,062 1,664,376 1,609,888 1,567,158 1,636,466 1,704,481 1,774,135 1,848,387 1,955,039 2,043,395 Operating and Capital Grants Water and Sanitary Sewer — — — 400,000 — — — — — — Village Links/Reserve 22 8,000 184,400 — — — — — — — — Total Business-Type Activities Program Revenues 21,322,071 21,522,515 21,587,351 21,647,850 20,947,453 21,585,554 22,915,362 23,065,200 24,705,156 26,910,606 Total Primary Government Program Revenues 25,282,208 26,281,696 26,528,023 30,498,740 26,927,016 28,548,373 28,217,140 28,415,450 31,217,937 33,560,312 181 Page 218 of 268  2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Net (Expenses) Revenues Governmental Activities $ (18,999,308) (18,696,234) (21,522,432) (18,881,431) (20,781,481) (17,702,758) (19,999,381) (26,510,522) (28,930,200) (30,981,473) Business-Type Activities 2,127,963 2,259,915 1,992,894 1,848,264 526,371 2,007,388 3,057,784 823,324 1,243,334 615,396 (16,871,345) (16,436,319) (19,529,538) (17,033,167) (20,255,110) (15,695,370) (16,941,597) (25,687,198) (27,686,866) (30,366,077) General Revenues and Other Changes in Net Position Governmental Activities Taxes Property 7,475,297 7,730,512 7,880,722 8,116,823 8,514,824 8,688,624 8,854,917 9,432,887 10,119,585 11,071,411 Home Rule Sales 1,933,614 1,951,436 1,962,519 2,226,382 2,602,904 2,402,686 3,681,167 3,843,694 3,962,891 4,116,784 Utility 2,213,808 2,127,708 1,944,348 1,979,905 1,857,788 1,790,636 1,611,204 1,647,727 1,538,046 1,572,507 Real Estate Transfer Tax 734,072 855,345 771,471 835,935 712,246 944,662 1,095,223 747,409 667,505 642,669 Other 884,253 204,301 196,982 203,852 1,435,589 1,431,952 1,776,849 1,904,256 1,933,639 1,983,246 Shared Income Taxes 2,927,803 2,702,952 2,550,376 2,659,136 2,955,493 3,017,410 3,676,011 4,700,378 4,607,266 4,898,639 Shared Sales and Use Tax 3,943,889 4,214,022 4,129,461 4,256,030 4,486,506 4,788,128 5,709,481 5,906,181 6,208,145 6,341,559 Motor Fuel Tax — 706,965 708,241 710,715 910,922 1,620,463 1,697,951 1,743,224 1,304,366 1,376,883 ARPA Grant — — — — — — — 3,771,450 — — Investment Income 47,464 91,410 234,575 541,295 1,058,873 376,147 36,611 907,259 2,570,695 2,413,699 Miscellaneous 755,865 246,485 358,206 743,463 1,895,089 765,968 152,880 405,708 182,504 323,869 Transfers — 100,000 100,000 100,000 (912,841) (6,286,008) (9,169,586) (622,019) 225,000 325,000 Total Governmental Activities 20,916,065 20,931,136 20,836,901 22,373,536 25,517,393 19,540,668 19,122,708 34,388,154 33,319,642 35,066,266 Business-Type Activities Investment Income 18,198 30,938 109,102 308,246 — — — — — — Property taxes 96,901 96,961 96,863 97,044 97,007 96,301 96,908 94,692 70,419 — Miscellaneous 387,287 486,566 421,238 382,933 1,145,197 633,327 659,823 644,935 1,440,516 1,521,402 Transfers — (100,000) (100,000) (100,000) 912,841 6,286,008 9,169,586 622,019 (225,000) (325,000) Total Business-Type Activities 502,386 514,465 527,203 688,223 2,155,045 7,015,636 9,926,317 1,361,646 1,285,935 1,196,402 Total Primary Government 21,418,451 21,445,601 21,364,104 23,061,759 27,672,438 26,556,304 29,049,025 35,749,800 34,605,577 36,262,668 Changes in Net Position Governmental Activities 1,916,757 2,234,902 (685,531) 3,492,105 4,735,912 1,837,910 (876,673) 7,877,632 4,389,442 4,084,793 Business-Type Activities 2,630,349 2,774,380 2,520,097 2,536,487 2,681,416 9,023,024 12,984,101 2,184,970 2,529,269 1,811,798 Total Primary Government 4,547,106 5,009,282 1,834,566 6,028,592 7,417,328 10,860,934 12,107,428 10,062,602 6,918,711 5,896,591 Data Source: Audited Financial Statements * Accrual Basis of Accounting 182 Page 219 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Fund Balances of Governmental Funds - Last Ten Fiscal Years* December 31, 2024 (Unaudited) 2015 2016 2017 General Fund Nonspendable $ 127,209 143,935 149,003 Restricted 686,521 926,277 657,989 Unrestricted, Committed 325,970 300,708 172,207 Unrestricted, Unassigned 9,360,580 9,077,691 9,205,061 Total General Fund 10,500,280 10,448,611 10,184,260 All Other Governmental Funds Nonspendable — — — Restricted 1,499,199 1,901,201 3,035,677 Unrestricted, Committed 2,047,184 11,603,102 3,887,924 Unrestricted, Assigned 16,814,877 4,647,514 5,645,417 Unrestricted, Unassigned (Deficit) (41,678) (18,528) — Total All Other Governmental Funds 20,319,582 18,133,289 12,569,018 Total Fund Balances 30,819,862 28,581,900 22,753,278 Data Source: Audited Financial Statements * Modified Accrual Basis of Accounting 183 Page 220 of 268  2018 2019 2020 2021 2022 2023 2024 164,178 120,502 111,431 93,499 152,500 209,845 186,215 — — — — — — — 216,400 93,341 85,817 34,559 84,120 87,337 315,407 9,664,022 10,771,155 12,389,295 14,624,398 15,825,228 14,988,252 13,286,373 10,044,600 10,984,998 12,586,543 14,752,456 16,061,848 15,285,434 13,787,995 — — 168,413 218,653 28,395 47,959 15,747 3,339,095 5,050,523 6,955,906 9,515,572 11,029,650 13,308,776 17,780,331 4,243,987 3,561,618 3,107,984 3,153,739 3,181,778 11,216,940 3,993,244 16,892,517 17,908,008 26,531,653 17,646,032 18,120,199 5,266,111 5,597,192 — — — — — — — 24,475,599 26,520,149 36,763,956 30,533,996 32,360,022 29,839,786 27,386,514 34,520,199 37,505,147 49,350,499 45,286,452 48,421,870 45,125,220 41,174,509 184 Page 221 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Changes in Fund Balances for Governmental Funds - Last Ten Fiscal Years* December 31, 2024 (Unaudited) 2015 2016 2017 Revenues Taxes $ 12,567,274 12,869,302 12,756,042 Intergovernmental 8,241,205 8,675,250 8,341,183 Licenses and Permits 1,146,161 1,091,411 1,155,951 Charges for Services 2,130,051 2,085,100 2,510,302 Fines and Forfeitures 640,578 636,949 963,212 Investment Income 28,422 86,078 187,498 Miscellaneous 503,469 22,627 141,308 Total Revenues 25,257,160 25,466,717 26,055,496 Expenditures General Government 3,834,879 4,157,711 4,295,344 Public Safety 9,033,209 9,891,447 9,900,429 Highways and Streets 2,852,220 2,898,637 2,604,950 Capital Outlay 9,146,277 9,389,574 14,303,223 Debt Service Principal Retirement 400,000 755,000 950,000 Interest and Fiscal Charges 183,774 712,310 512,602 Total Expenditures 25,450,359 27,804,679 32,566,548 Excess (Deficiency) of Revenues Over (Under) Expenditures (193,199) (2,337,962) (6,511,052) Other Financing Sources (Uses) Transfer In 3,666,705 5,024,204 5,793,842 Transfer Out (3,666,705) (4,924,204) (5,693,842) Disposal of Capital Assets — — 582,430 Premium on Issuance of Bonds 137,621 — — Debt Issuance 13,435,000 — — Payment to Escrow Agent — — — 13,572,621 100,000 682,430 Net Change in Fund Balances 13,379,422 (2,237,962) (5,828,622) Debt Service as a Percentage of Noncapital Expenditures 3.29% 7.46% 6.32% Data Source: Audited Financial Statements * Modified Accrual Basis of Accounting 185 Page 222 of 268  2018 2019 2020 2021 2022 2023 2024 13,362,897 15,123,351 15,242,445 16,980,722 17,528,793 18,221,666 19,386,617 9,201,151 11,309,806 11,732,972 11,676,906 16,733,554 12,607,253 12,950,287 1,249,593 1,445,185 1,858,658 1,327,448 1,286,485 2,548,756 1,926,728 2,957,435 3,115,545 2,894,958 2,970,155 2,970,856 2,932,111 3,814,558 686,423 667,626 419,230 449,350 527,768 544,438 575,214 443,539 838,056 336,869 29,882 802,941 2,209,273 2,068,700 559,898 149,411 740,085 152,880 405,708 182,504 323,869 28,460,936 32,648,980 33,225,217 33,587,343 40,256,105 39,246,001 41,045,973 4,793,060 5,139,491 5,331,901 6,053,654 7,167,587 7,094,105 7,446,079 10,495,537 10,487,375 10,888,846 11,363,330 12,398,261 13,241,033 14,397,729 3,035,086 3,185,340 2,782,988 2,875,465 3,164,601 3,490,440 3,216,108 6,816,529 7,797,497 3,804,942 6,147,735 11,962,116 17,073,145 17,862,284 975,000 1,370,000 1,415,000 1,355,000 1,454,551 1,625,728 1,673,451 666,722 771,488 865,089 953,585 803,455 764,247 726,033 26,781,934 28,751,191 25,088,766 28,748,769 36,950,571 43,288,698 45,321,684 1,679,002 3,897,789 8,136,451 4,838,574 3,305,534 (4,042,697) (4,275,711) 5,326,714 7,599,145 6,116,093 6,945,986 15,620,443 11,061,291 11,552,276 (5,226,714) (8,511,986) (12,406,101) (15,922,672) (16,242,462) (10,836,291) (11,227,276) — — — — — — — 87,919 — 523,909 — — — — 9,900,000 — 9,475,000 3,935,000 105,895 521,047 — — — — (3,860,935) — — — 10,087,919 (912,841) 3,708,901 (8,902,621) (516,124) 746,047 325,000 11,766,921 2,984,948 11,845,352 (4,064,047) 2,789,410 (3,296,650) (3,950,711) 6.91% 9.63% 9.99% 9.24% 7.95% 7.37% 7.84% 186 Page 223 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Assessed Value and Actual Value of Taxable Property - Last Ten Tax Levy Years - DuPage County December 31, 2024 (Unaudited) Tax Levy Residential Commercial Industrial Year Property Property Property 2014 $ 1,046,817,824 $ 134,592,061 $ — 2015 1,134,982,455 138,345,103 — 2016 1,209,775,945 144,349,343 — 2017 1,271,427,080 145,365,886 — 2018 1,331,886,390 150,799,540 666,580 2019 1,359,066,043 153,046,810 681,230 2020 1,399,386,551 154,978,742 1,972,150 2021 1,410,809,207 159,031,828 1,975,750 2022 1,456,178,611 161,820,569 2,036,600 2023 1,542,551,156 166,681,456 2,159,220 Data Source: Office of the County Clerk Note: Property in the Village is reassessed each year. Property is assessed at 33% of actual value. 187 Page 224 of 268  Total Estimated Ratio of Total Taxable Total Actual Assessed Value to Other Assessed Direct Tax Taxable Total Estimated Property Value Rate Value Actual Value $ 620,773 $ 1,182,030,658 0.5681 $ 3,546,091,974 33.33% 737,352 1,274,064,910 0.5451 3,822,194,730 33.33% 749,016 1,354,874,304 0.5184 4,064,622,912 33.33% 762,858 1,417,555,824 0.5063 4,252,667,472 33.33% 816,484 1,484,168,994 0.4971 4,452,506,982 33.33% 887,599 1,513,681,682 0.5011 4,541,045,046 33.33% 923,333 1,557,260,776 0.4892 4,671,782,328 33.33% 1,001,336 1,572,818,121 0.5064 4,718,454,363 33.33% 1,094,799 1,621,130,579 0.5041 4,863,391,737 33.33% 1,180,466 1,712,572,298 0.4974 5,137,716,894 33.33% 188 Page 225 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Direct and Overlapping Property Tax Rates - Last Ten Tax Levy Years December 31, 2024 (Unaudited) 2014 2015 2016 Village Direct Rates General 0.5681 0.5451 0.5184 Overlapping Rates Butterfield Park District 0.4731 0.4577 0.4407 College of DuPage 0.2975 0.2786 0.2626 DuPage Airport Authority 0.0196 0.0188 0.0176 DuPage County 0.2057 0.1971 0.1848 DuPage Forest Preserve District 0.1691 0.1622 0.1514 Glen Ellyn Mosquito (1) 0.0115 0.0111 0.0107 Glen Ellyn Park District 0.4534 0.4435 0.3981 Glen Ellyn Public Library 0.3634 0.3492 0.3371 Glen Ellyn SSA #12 1.2928 1.2901 1.2249 Glen Ellyn SSA #13 0.1250 0.1250 0.1250 Glen Ellyn SSA #14 0.1250 0.1250 0.1250 Glen Ellyn SSA #15 0.1250 0.1250 0.1250 Glen Ellyn SSA #16 0.1250 0.1250 0.1250 Glen Ellyn SSA #17 0.1250 0.1250 0.1250 Glen Ellyn SSA #18 0.1107 0.0854 0.1333 Glen Ellyn SSA #19 0.1105 0.1165 0.1104 Glenbard Fire District 0.2672 0.2716 0.2596 Grade School District #41 3.9236 3.7579 3.6171 Grade School District #44 4.4326 4.3039 4.1201 Grade School District #89 3.5149 3.5010 3.3789 High School District #87 2.5824 2.5173 2.4030 Lombard Park District 0.4664 0.4546 0.4374 Milton Township 0.1277 0.0475 0.0475 Wheaton Mosquito 0.0188 0.0156 0.0136 Wheaton Park District 0.8442 0.8275 0.7892 Data Source: Office of the County Clerk (1) In April of 2019, Milton Township accepted consolidation of the Glen Ellyn Mosquito Abatement District into the Township. Note: Property tax rates are per $100 of assessed valuation. 189 Page 226 of 268 2017 2018 2019 2020 2021 2022 2023 0.5063 0.4971 0.5011 0.4892 0.5064 0.5041 0.4974 0.4264 0.4200 0.4147 0.4179 0.4179 0.4152 0.4424 0.2431 0.2317 0.2112 0.2114 0.2037 0.1946 0.1907 0.0166 0.0146 0.0141 0.0148 0.0144 0.0139 0.0132 0.1749 0.1673 0.1655 0.1609 0.1587 0.1428 0.1473 0.1306 0.1278 0.1242 0.1205 0.1177 0.1130 0.1076 0.0106 0.0105 — — — — — 0.3090 0.3025 0.3057 0.3043 0.3064 0.3756 0.3746 0.3284 0.3153 0.3135 0.2995 0.2999 0.3048 0.3033 1.1942 1.1531 1.0970 1.0787 1.0600 0.7563 — 0.1250 0.1250 0.1250 0.1250 0.1250 0.1250 0.1251 0.1250 0.1250 0.1250 0.1250 0.1252 0.1250 0.1262 0.1250 0.1250 0.1250 0.1238 0.1250 0.1250 0.1250 0.1250 0.1250 0.1250 0.1250 0.1250 0.1250 0.1250 0.1250 0.1250 0.1250 0.1250 0.1247 0.1250 0.1250 0.1367 0.1857 0.9280 0.1081 0.1089 0.0953 0.1630 0.1390 0.1827 0.8850 0.1064 0.1097 0.0959 0.1702 0.2535 0.2472 0.2371 0.2321 0.2321 0.2379 0.2517 3.4080 3.3384 3.3558 3.3574 3.4017 3.4688 3.4644 3.9701 3.8832 3.6969 3.6944 3.6944 3.7539 3.8774 3.3184 3.7142 3.7238 3.7404 3.6089 3.6310 3.7021 2.3402 2.2834 2.2296 2.2255 2.2284 2.2216 2.1976 0.4249 0.4175 0.3971 0.3938 0.3938 0.3975 0.3674 0.0449 0.0442 0.0408 0.0434 0.1457 0.1481 0.1490 0.0165 0.0161 0.0160 0.0154 0.0154 0.0148 0.0141 0.7670 0.7469 0.7425 0.7201 0.7201 0.5751 0.5695 190 Page 227 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Principal Property Tax Payers - Current Fiscal Year and Nine Fiscal Years Ago December 31, 2024 (Unaudited) 2024 2015 Percentage of Percentage of Total Village Total Village Taxable Taxable Taxable Taxable Assessed Assessed Assessed Assessed Taxpayer Value Rank Value Value Rank Value TLC Management Company $ 12,358,886 1 0.66% Nare Market Plaza 11,034,496 2 0.59% Baker Hill Station LLC 8,474,024 3 0.45% $ 6,833,880 3 0.58% DuPage Medical Group 6,188,060 4 0.33% SIM Briar Street LLC 5,666,100 5 0.30% Brookdale 5,424,313 6 0.29% T J Adam Company 5,262,492 7 0.28% Madison Corp Group 4,825,544 8 0.26% 3,561,320 7 0.30% NICOR Gas 4,754,133 9 0.25% 3,799,540 6 0.32% SIM Parkside II LLC 3,697,191 10 0.20% Market Plaza 450 LLC 11,254,800 1 0.95% Arbors of Glen Ellyn 8,042,470 2 0.68% DMG Real Estate LLC 5,904,970 4 0.50% AH IL Owner Ltd Partners 5,446,330 5 0.46% Central DuPage Health Systems 3,174,990 8 0.27% Healthtrack Sports & Wellness 3,030,600 9 0.26% Al I/GE Senior Housing 2,591,620 10 0.22% Totals $ 67,685,239 3.61% $ 53,640,520 4.54% Data Source: Office of the County Clerk Note: Every effort has been made to seek out and report the largest taxpayers. However, many of the taxpayers own multiple parcels, and it is possible that some parcels and their valuations have been overlooked. 191 Page 228 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Property Tax Levies and Collections - Last Ten Tax Levy Years December 31, 2024 (Unaudited) Fiscal Taxes Collected within the Tax Year Levied for Fiscal Year of the Levy Levy Levy the Fiscal Percentage Year Collected Year Amount of Levy 2015 2016 $ 6,944,928 $ 6,931,628 99.81% 2016 2017 7,023,668 6,990,443 99.53% 2017 2018 7,177,085 7,139,374 99.47% 2018 2019 7,377,804 7,366,140 99.84% 2019 2020 7,585,059 7,544,307 99.46% 2020 2021 7,618,120 7,609,536 99.89% 2021 2022 7,964,751 7,955,083 99.88% 2022 2023 8,172,122 8,153,252 99.77% 2023 2024 8,518,337 8,505,948 99.85% 2024 * 2025 8,970,182 — 0.00% Data Source: Village Records/DuPage County Clerk Note: Property in the Village is reassessed each year. Property is assessed at 33% of actual value. * The 2024 levy is not collected until the 2025 fiscal year; therefore, no collection data is available at time of report. 192 Page 229 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Ratios of Outstanding Debt by Type - Last Ten Fiscal Years December 31, 2024 (Unaudited) Governmental Activities Business-Type General General Fiscal Obligation Leases Subscriptions Obligation IEPA Year Bonds Payable Payable Bonds Loans 2015 $ 15,785,954 $ — $ — $ 6,385,165 $ 734,056 2016 15,022,119 — — 5,889,999 643,903 2017 14,063,284 — — 5,374,833 551,481 2018 23,067,369 — — 4,849,667 456,734 2019 21,684,138 — — 4,304,501 359,604 2020 30,249,533 — — 3,744,334 260,030 2021 29,326,368 — — 3,237,456 157,952 2022 27,853,203 86,344 — 2,867,836 53,306 2023 26,345,038 149,974 301,689 2,592,500 — 2024 24,781,871 109,055 194,157 8,661,533 — Data Source: Audited Financial Statements Note: Details of the Village's outstanding debt can be found in notes to financial statements. (1) See the Schedule of Assessed Value and Actual Value of Taxable Property for property value data. (2) See the Schedule of Demographic and Economic Statistics for population data. 193 Page 230 of 268 Activities Percentage Total of Leases Subscriptions Primary Assessed Per Payable Payable Government Valuation (1) Capita (2) $ — $ — $ 22,905,175 1.94% $ 824.91 — — 21,556,021 1.69% 764.37 — — 19,989,598 1.48% 712.84 — — 28,373,770 2.00% 1,011.83 — — 26,348,243 1.78% 939.60 — — 34,253,897 2.26% 1,235.98 — — 32,721,776 2.10% 1,134.36 91,344 — 30,952,033 1.97% 1,091.24 64,485 95,053 29,548,739 1.82% 1,042.39 — 67,056 33,813,672 1.97% 1,171.16 194 Page 231 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Ratios of General Bonded Debt Outstanding - Last Ten Fiscal Years December 31, 2024 (Unaudited) Governmental Business-Type Percentage of Activities Activities Less: Amounts Total Taxable General General Available Assessed Fiscal Obligation Obligation In Debt Value of Per Year Bonds Bonds Service Fund Total Property (1) Capita (2) 2015 $ 15,785,954 $ 6,385,165 $ 42,042 $ 22,129,077 1.87% $ 796.96 2016 15,022,119 5,889,999 41,646 20,870,472 1.64% 740.06 2017 14,063,284 5,374,833 41,353 19,396,764 1.43% 691.70 2018 23,067,369 4,849,667 41,331 27,875,705 1.97% 994.07 2019 21,684,138 4,304,501 40,580 25,948,059 1.75% 925.33 2020 30,249,533 3,744,334 — 33,993,867 2.25% 1,226.60 2021 29,326,368 3,237,456 39,416 32,524,408 2.09% 1,127.52 2022 27,853,203 2,867,836 37,405 30,683,634 1.95% 1,081.78 2023 26,345,038 2,592,500 36,582 28,900,956 1.78% 1,019.54 2024 24,781,871 8,661,533 36,320 33,407,084 1.95% 1,157.08 Data Source: Audited Financial Statements Note: Details of the Village's outstanding debt can be found in notes to financial statements. (1) See the Schedule of Assessed Value and Actual Value of Taxable Property for property value data. (2) See the Schedule of Demographic and Economic Statistics for population data. 195 Page 232 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Schedule of Direct and Overlapping Governmental Activities Debt December 31, 2024 (Unaudited) Percentage of Debt Village of Applicable Glen Ellyn to the Village of Share of Governmental Unit Gross Debt Glen Ellyn (2) Debt Village of Glen Ellyn $ 25,085,083 100.00% $ 25,085,083 Overlapping Debt (1) Grade School District 41 (3) 18,170,000 77.26% 14,038,142 Grade School District 44 13,880,000 2.55% 353,940 Grade School District 89 25,025,000 39.35% 9,847,338 High School District 87 (3) 62,175,000 24.59% 15,288,833 Community College District 502 87,140,000 3.17% 2,762,338 Glen Ellyn Park District 14,985,000 80.39% 12,046,442 Butterfield Park District (3) 2,908,966 9.79% 284,788 Lombard Park District 7,395,000 0.95% 70,253 Wheaton Park District 4,685,000 0.67% 31,390 DuPage County (3)(4) 74,095,000 3.55% 2,630,373 DuPage Forest Preserve 30,490,000 3.55% 1,082,395 Total Overlapping Debt 340,948,966 58,436,232 Total Direct and Overlapping Debt 366,034,049 83,521,315 Data Source: Village Survey and DuPage County Clerk (1) Debt information for overlapping debt is as of December 31, 2023 (2) Determined by ratio of assessed valuation of property subject to taxation in the Village of Glen Ellyn to valuation of property subject to taxation in overlapping unit (3) Excludes principal amounts of outstanding debt certificates (4) Outstanding private placement debt is as of November 30, 2022 which is the most recent information available. 196 Page 233 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Schedule of Legal Debt Margin December 31, 2024 (Unaudited) The Village is a home rule municipality. Article VII, Section 6(k) of the 1970 Illinois constitution governs computation of legal debt margin. The General Assembly may limit by law the amount and require referendum approval of debt to be incurred by some home rule municipalities, payable from ad valorem property tax receipts, only in excess of the following percentages of the assessed value of its taxable property...(2) if its population is more than 25,000 and less than 500,000 an aggregate of one percent: indebtedness which is outstanding on the effective date (July 1, 1971) of this constitution or which is thereafter approved by referendum...shall not be included in the foregoing percentage amounts. To date the General Assembly has set no limits for home rule municipalities. 197 Page 234 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Demographic and Economic Statistics - Last Ten Fiscal Years December 31, 2024 (Unaudited) (1) Per (1) Capita (2) Fiscal (1) Personal Personal Unemployment Year Population Income Income Rate 2015 27,767 1,457,378,762 52,486 4.60% 2016 28,201 1,482,357,364 52,564 4.47% 2017 28,042 1,567,800,178 55,909 3.73% 2018 28,042 1,605,544,710 57,255 3.06% 2019 28,042 1,659,469,476 59,178 2.69% 2020 27,714 1,695,542,520 61,180 7.43% 2021 28,846 1,884,451,488 65,328 4.50% 2022 28,364 1,973,170,024 69,566 3.50% 2023 28,347 2,052,436,188 72,404 3.40% 2024 28,872 2,117,385,864 73,337 4.40% Data Sources: (1) U.S. Census Bureau (2) Illinois Bureau of Employment Security 198 Page 235 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Principal Employers - Current Fiscal Year and Nine Fiscal Years Ago December 31, 2024 (Unaudited) 2024 2015 Percentage Percentage of Village of Village Employer Employees Rank Population Employees Rank Population College of DuPage 4,093 1 14.18% 3,845 1 13.85% School District 41 549 2 1.90% 415 6 1.49% School District 87 464 3 1.61% 873 2 3.14% Village of Glen Ellyn 501 4 1.74% 261 7 0.94% School District 89 285 5 0.99% 248 8 0.89% Duly Health and Care (1) 275 6 0.95% 430 4 1.55% Walmart Supercenter 250 7 0.87% First Student 250 8 0.87% Health Track Sports & Wellness 250 9 0.87% Innovative Systems Group 220 10 0.76% Glen Ellyn Park District 698 3 2.51% Grade School District 44 429 5 1.54% B.R. Ryall YMCA 170 9 0.61% NICOR 125 10 0.45% 7,137 24.74% 7,494 26.97% Data Sources: Data Axle Business Database, Prior Village Survey, Phone Survey (1) Formerly DuPage Medical Group 199 Page 236 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Full-Time and Part-Time Employees by Function/Program - Last Ten Fiscal Years December 31, 2024 (Unaudited) See Following Page 200 Page 237 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Full-Time and Part-Time Employees by Function/Program - Last Ten Fiscal Years December 31, 2024 (Unaudited) Function/Program 2015 2016 2017 (1) General Government Administration Village Manager's Office 5.75 6.15 6.40 Law 1.25 1.25 1.25 Facilities Maintenance 4.15 4.15 5.33 Information Technology 2.20 2.10 2.10 Senior Services 0.60 0.60 0.60 13.95 14.25 15.68 Finance Administration 4.05 4.05 4.05 Cashier's Office 5.60 5.60 5.60 9.65 9.65 9.65 Planning and Development Building and Zoning 8.25 8.25 9.25 Planning 3.70 3.70 3.70 11.95 11.95 12.95 Public Safety Police Officers 40.00 40.00 40.00 Community Service Officers 2.90 2.90 2.90 Civilians 9.95 9.95 9.95 Fire/EMS 1.00 1.00 1.00 53.85 53.85 53.85 Public Works Administration/Engineering 7.71 7.71 8.17 Operations 23.97 23.97 23.97 Equipment Services 3.40 3.40 3.40 35.08 35.08 35.54 Recreation Administration 1.00 1.00 1.00 Golf 2.00 2.00 12.90 Food Service 5.00 6.00 36.80 Grounds 5.00 5.00 14.20 Seasonal 36.50 36.50 — 49.50 50.50 64.90 Totals 173.98 175.28 192.57 Data Source: Village Budgets (1) In fiscal year 2017, the seasonal staff was allocated to golf, food service, and grounds. 201 Page 238 of 268 2018 2019 2020 2021 2022 2023 2024 7.60 6.40 6.60 6.35 6.45 7.75 9.25 1.00 1.00 1.00 1.00 1.00 1.00 1.00 5.33 5.78 5.78 6.08 7.73 8.63 8.63 1.40 2.13 2.45 2.45 2.75 3.00 4.00 0.60 0.60 0.60 0.60 0.60 0.60 0.30 15.93 15.91 16.43 16.48 18.53 20.98 23.18 4.20 5.10 5.20 4.20 5.20 5.20 5.60 5.72 5.72 4.63 4.63 4.72 5.59 5.03 9.92 10.82 9.83 8.83 9.92 10.79 10.63 9.13 5.50 9.70 9.20 9.18 9.08 9.60 3.50 8.50 5.98 5.50 5.98 7.25 8.00 12.63 14.00 15.68 14.70 15.16 16.33 17.60 40.00 39.00 40.00 40.00 45.00 45.00 45.00 2.90 2.90 2.90 2.90 2.90 2.90 2.45 9.95 10.95 10.95 9.95 11.55 11.35 11.90 0.50 0.50 — — — 1.00 — 53.35 53.35 53.85 52.85 59.45 60.25 59.35 8.17 8.38 8.46 9.46 9.00 10.00 12.00 23.97 23.97 23.97 23.97 24.97 25.97 25.97 3.40 3.40 3.48 3.48 4.48 4.48 4.48 35.54 35.75 35.91 36.91 38.45 40.45 42.45 1.45 1.45 1.60 1.60 1.60 1.60 1.60 12.90 13.90 13.90 13.90 14.90 14.90 14.90 36.20 37.50 37.50 37.50 37.50 37.40 38.00 14.20 14.20 14.20 14.20 14.20 15.20 15.20 — — — — — 64.75 67.05 67.20 67.20 68.20 69.10 69.70 192.12 196.88 198.90 196.97 209.71 217.90 222.91 202 Page 239 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Operating Indicators by Function/Program - Last Ten Fiscal Years December 31, 2024 (Unaudited) Function/Program 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Public Safety Police (1) General Police Activities 15,045 15,119 16,830 — — — — — — — Traffic Enforcement 14,948 14,843 15,176 — — — — — — — Traffic Services/Accidents 1,757 1,634 1,359 — — — — — — — Quasi-/Non-Criminal Services 2,356 2,344 1,963 — — — — — — — Burglar Alarms 967 803 803 — — — — — — — Property Crimes 892 681 776 — — — — — — — Suspicious Persons 1,005 777 723 — — — — — — — Suspicious Autos 907 727 745 — — — — — — — Domestic Disturbance 245 229 396 — — — — — — — Animal Calls 419 361 417 — — — — — — — Crimes Against Persons 99 86 119 — — — — — — — Calls for Service — — — 44,190 39,485 31,821 — — — — Traffic Citations — — — 3,969 4,476 2,402 — — — — Traffic Warnings Issued — — — 7,423 7,125 4,167 — — — — Traffic Crash Reports — — — 789 668 431 — — — — DUI — — — 96 106 105 — — — — Medical Assists — — — 1,246 534 — — — — — Miscellaneous Services — — — 719 573 537 — — — — Crisis Intervention — — — 387 356 304 — — — — Theft/Deception — — — 331 310 521 — — — — Drug Offenses — — — 235 174 75 — — — — Other Criminal Offenses — — — 156 128 61 — — — — Criminal Damage or Trespass — — — 116 98 141 — — — — Disorderly Conduct — — — 90 76 99 — — — — Battery — — — 73 91 76 — — — — Death/Suicide Investigations — — — 52 45 54 — — — — Liquor Control Act — — — 34 14 16 — — — — Burglary/Robbery — — — 34 27 35 — — — — Sex Offenses — — — 19 17 4 — — — — Missing Persons — — — 19 14 19 — — — — Motor Vehicle Theft — — — 11 5 8 — — — — Offenses Involving Children — — — 11 9 9 — — — — Criminal Sexual Assault — — — 9 7 3 — — — — Deadly Weapons — — — 7 10 13 — — — — Arson — — — 3 1 — — — — — 203 Page 240 of 268 Public Safety Police (1) Calls for Service — — — — — — 44,938 47,014 48,402 51,485 Alarms — — — — — — 701 713 671 668 Burglary - Residential — — — — — — 13 18 9 8 Burglary - Motor Vehicles — — — — — — 17 24 20 6 Burglary - All Others — — — — — — 8 15 15 18 Criminal Trespass to Motor Vehicle — — — — — — 3 4 8 2 Theft of Motor Vehicle — — — — — — 13 4 18 3 Death Investigation — — — — — — 35 21 25 22 Domestic-Related Incidents — — — — — — 226 264 280 247 DUI Arrests — — — — — — 136 133 122 109 Incident Reports Completed — — — — — — 2,076 2,151 2,321 2,392 Rail Crossing Blocking/Issues — — — — — — 56 60 28 29 Suicide-Related Calls — — — — — — 65 69 45 62 Suicides — — — — — — 1 1 — 2 Traffic Crash Reports — — — — — — 705 793 851 904 Building Permits Issued 1,412 1,437 1,553 1,357 2,337 2,217 1,790 1,586 1,693 1,423 Authorized Construction ($) 49,428,454 73,884,864 41,899,429 46,191,410 64,558,989 92,075,500 69,380,806 74,674,751 152,208,981 80,739,372 Public Works Street Resurfacing (Miles) 3.1 0.3 3.9 3.0 1.3 2.0 3.0 3.1 6.9 3.8 Street Reconstruction (Miles) 1.3 0.3 0.7 0.4 0.4 — 0.7 1.0 0.5 1.9 Water (1) Average Daily Consumption (Gallons) 2,364,759 2,293,786 2,315,123 2,315,186 2,148,863 2,321,508 2,305,542 2,335,564 2,270,739 2,273,470 Peak Daily Consumption (Gallons) 3,840,585 3,677,000 4,411,000 3,723,000 3,686,460 4,264,190 3,538,090 3,986,570 3,919,390 3,548,080 Data Source: Village Records In 2018, and again in 2021, the Police Department changed the reporting categories to provide more detail. 204 Page 241 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS Capital Asset Statistics by Function/Program - Last Ten Fiscal Years December 31, 2024 (Unaudited) Function/Program 2015 2016 2017 Public Safety Police Stations 1 1 1 Fire Fire Stations 2 2 2 Public Works Roadways (Miles) 89 89 89 Streetlights 850 947 947 Parkway Trees 13,977 13,977 14,133 Water Water Mains (Miles) 111 111 111 Fire Hydrants 1,386 1,386 1,386 Storage Capacity (Gallons) 3,250,000 3,250,000 3,250,000 Wastewater Sanitary Sewer (Miles) 85 85 85 Storm Sewers (Miles) 70 70 70 Data Source: Village Records 205 Page 242 of 268  2018 2019 2020 2021 2022 2023 2024 1 1 1 1 1 1 1 2 2 2 2 2 2 2 89 89 89 89 90 90 90 959 989 992 1,132 1,149 1,170 1,150 14,167 14,258 14,078 13,966 14,095 14,404 14,326 111 111 113 113 113 113 113 1,360 1,344 1,298 1,308 1,307 1,307 1,305 3,250,000 3,250,000 3,250,000 3,250,000 3,250,000 3,250,000 3,250,000 85 85 85 85 85 85 85 70 70 70 70 70 70 70 206 Page 243 of 268 July 15, 2025 The Honorable Village President Members of the Board of Trustees Village of Glen Ellyn, Illinois We have audited the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the Village of Glen Ellyn (the Village), Illinois for the year ended December 31, 2024. Professional standards require that we provide you with information about our responsibilities under generally accepted auditing standards (and, if applicable, Government Auditing Standards and the Uniform Guidance), as well as certain information related to the planned scope and timing of our audit. We have communicated such information in our letter to you dated July 15, 2025. Professional standards also require that we communicate to you the following information related to our audit. Significant Audit Findings Qualitative Aspects of Accounting Practices Management is responsible for the selection and use of appropriate accounting policies. The significant accounting policies used by the Village are described in the Note 1 to the financial statements. No new accounting policies were adopted, and the application of existing policies was not changed during the year ended December 31, 2024, except for the implementation of GASB Statement No. 101, Compensated Absences. We noted no transactions entered into by the Village during the year for which there is a lack of authoritative guidance or consensus. All significant transactions have been recognized in the financial statements in the proper period. Accounting estimates are an integral part of the financial statements prepared by management and are based on management’s knowledge and experience about past and current events and assumptions about future events. Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ significantly from those expected. The most sensitive estimates affecting the governmental and business-type activities’ financial statements are noted below. Management’s estimates of the: • Depreciation/amortization expense on capital assets is based on estimated useful lives of the underlying capital assets • Compensated absences are based on management assumptions and estimates related to benefit time usage • Net pension related accounts are based on estimated assumptions used by the actuary • Total OPEB related accounts are based on estimated assumptions used by the actuary • Asset retirement obligation is based on estimated assumptions related to the specific assets in question. The financial statement disclosures are neutral, consistent, and clear. Difficulties Encountered in Performing the Audit We encountered no significant difficulties in dealing with management in performing and completing our audit. Page 244 of 268 Village of Glen Ellyn, Illinois July 15, 2025 Page 2 Significant Audit Findings - Continued Corrected and Uncorrected Misstatements Professional standards require us to accumulate all known and likely misstatements identified during the audit, other than those that are clearly trivial, and communicate them to the appropriate level of management. Any material misstatements detected as a result of audit procedures were corrected by management. Disagreements with Management For purposes of this letter, a disagreement with management is a financial accounting, reporting, or auditing matter, whether or not resolved to our satisfaction, that could be significant to the financial statements or the auditor’s report. We are pleased to report that no such disagreements arose during the course of our audit. Management Representations We have requested certain representations from management that are included in the management representation letter dated July 15, 2025. Management Consultations with Other Independent Accountants In some cases, management may decide to consult with other accountants about auditing and accounting matters, similar to obtaining a “second opinion” on certain situations. If a consultation involves application of an accounting principle to the Village’s financial statements or a determination of the type of auditor’s opinion that may be expressed on those statements, our professional standards require the consulting accountant to check with us to determine that the consultant has all the relevant facts. To our knowledge, there were no such consultations with other accountants. Other Audit Findings or Issues We generally discuss a variety of matters, including the application of accounting principles and auditing standards, with management each year prior to retention as the Village’s auditors. However, these discussions occurred in the normal course of our professional relationship and our responses were not a condition to our retention. Other Matters We applied certain limited procedures to the required supplementary information (RSI), as listed in the table of contents, that supplements the basic financial statements. Our procedures consisted of inquiries of management regarding the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We did not audit the RSI and do not express an opinion or provide any assurance on the RSI. Page 245 of 268 Village of Glen Ellyn, Illinois July 15, 2025 Page 3 Other Matters - Continued We were engaged to report on the other supplementary information and supplemental schedules, as listed in the table of contents, which accompany the financial statements but are not RSI. With respect to this supplementary information, we made certain inquiries of management and evaluated the form, content, and methods of preparing the information to determine that the information complies with the accounting principles generally accepted in the United States of America, the method of preparing it has not changed from the prior period, and the information is appropriate and complete in relation to our audit of the financial statements. We compared and reconciled the supplementary information to the underlying accounting records used to prepare the financial statements or to the financial statements themselves. We were not engaged to report on the introductory section and statistical section, which accompany the financial statements but are not RSI. Such information has not been subjected to the auditing procedures applied in the audit of the basic financial statements, and accordingly, and we do not express an opinion or provide any assurance on it. Restrictions on Use This information is intended solely for the use of the Board of Trustees and management of the Village and is not intended to be, and should not be, used by anyone other than these specified parties. We wish to express our gratitude to the Board of Trustees and staff (in particular the Finance Department) of the Village of Glen Ellyn, Illinois for their valuable cooperation throughout the audit engagement. LAUTERBACH & AMEN, LLP Page 246 of 268 VILLAGE OF GLEN ELLYN, ILLINOIS MANAGEMENT LETTER FOR THE FISCAL YEAR ENDED DECEMBER 31, 2024 535 Duane Street Glen Ellyn, Illinois 60137 Phone: 630.547.5353 www.glenellyn.org Page 247 of 268 July 15, 2025 The Honorable Village President Members of the Board of Trustees Village of Glen Ellyn, Illinois In planning and performing our audit of the financial statements of the Village of Glen Ellyn, Illinois, (the Village), for the year ended December 31, 2024, we considered its internal control structure in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control structure. We do not intend to imply that our audit failed to disclose commendable aspects of your system and structure. For your consideration, we herein submit our comments and suggestions which are designed to assist in effecting improvements in internal controls and procedures. Those less-significant matters, if any, which arose during the course of the audit, were reviewed with management as the audit field work progressed. The accompanying comments and recommendations are intended solely for the information and use of the Village Board of Trustees, management, and others within the Village of Glen Ellyn, Illinois. We will review the status of these comments during our next audit engagement. We have already discussed many of these comments and suggestions with various Village personnel. We would be pleased to discuss our comments and suggestions in further detail with you at your convenience, to perform any additional study of these matters, or to review the procedures necessary to bring about desirable changes. We commend the finance department for the well-prepared audit package and we appreciate the courtesy and assistance given to us by the entire Village staff. LAUTERBACH & AMEN, LLP Page 248 of 268  UPCOMING STANDARDS 1. GASB STATEMENT NO. 102 CERTAIN RISK DISCLOSURES In December 2023, the Governmental Accounting Standards Board (GASB) issued Statement No. 102, Certain Risk Disclosures, which establishes the requirements for disclosing, in the notes to the financial statements, the risks related to a government’s vulnerabilities due to certain concentrations or constraints that are essential to their analyses for making decisions or assessing accountability. Governments may be vulnerable to risks from certain concentrations or constraints that limit their ability to acquire resources or control spending. Concentration risk is a lack of diversity related to an aspect of a significant inflow of resources (revenues) or outflow of resources (expenses). Constraint risk is a limitation that is imposed by an external party or by formal action of a government’s highest level of decision-making authority. GASB Statement No. 102, Certain Risk Disclosures is applicable to the Village’s financial statements for the year ended December 31, 2025. 2. GASB STATEMENT NO. 103 FINANCIAL REPORTING MODEL IMPROVEMENTS In April 2024, the Governmental Accounting Standards Board (GASB) issued Statement No. 103, Financial Reporting Model Improvements, which establishes improvements to key components of the financial reporting model to enhance effectiveness in providing information that is essential for decision making and assessing a government’s accountability. The Statement addresses application issues related to management’s discussion and analysis, unusual or infrequent items, presentation of the proprietary fund statements of revenues, expenses, and changes in fund net position, major component unit information, and budgetary comparison information. GASB Statement No. 103, Financial Reporting Model Improvements is applicable to the Village’s financial statements for the year ended December 31, 2026. Page 249 of 268 2024 POPULAR ANNUAL FINANCIAL REPORT Fiscal Year Ended December 31, 2024 Page 250 of 268  Table of Contents 1 Letter from the Village Manager 2 Community at a Glance 3 Vision, Mission & Values 4 Village Government Popular Annual Financial Report 5 Local Economy 6 Major Initiatives 7-8 Financial Planning & Policies 9-10 Village Revenues & Expenses 11 Statement of Net Position 12 Statement of Activities Village of Glen Ellyn 13 Fund Balance - General Fund 14 Pension Obligations 15 Property Taxes Page 251 of 268  Letter from the Village Manager On behalf of the Village of Glen Ellyn, we are pleased to present the Village's Popular Annual Financial Report (PAFR) for the fiscal year ended December 31, 2024. This PAFR provides a brief overview and analysis of the Village's results for the most recent fiscal year, and is intended to provide an easily digestible report to citizens and others who might be seeking insight into the Village's financial practices and standing. The Government Mark Franz Finance Officers Association (GFOA) administers the PAFR Award Program. Popular Annual Financial Report This prestigious, national award recognizes participating local governments for conforming to the program's standards of creativity, presentation and usefulness to the reader. The Village intends to submit this document to the GFOA for consideration of the PAFR Award. The information in this report is derived from the Village's December 31, 2024 Annual Comprehensive Financial Report (ACFR), which represents the Village's official audited financial statements. The Village's independent auditors issued a favorable, or clean, audit opinion on the December 31, 2024 financial statements, which affirms that the Village's financial statements are fairly presented in all material respects, and in conformity with Generally Accepted Accounting Principles (GAAP). But, it is important to note that the information contained in this PAFR is unaudited and therefore, is not intended to replace the ACFR. We thank you for taking the time to review this PAFR and taking an active role in the community. We hope that you find the information presented in this report useful and insightful and a way to gain a greater understanding of the Village's financial condition and major initiatives. Village of Glen Ellyn Sincerely, Mark Franz Village Manager Page 252 of 268 Community at a Glance Located approximately 25 miles west of Chicago in DuPage County, the Village of Glen Ellyn encompasses a 7.2 square mile area and is home to 28,846 residents based on the 2020 Census. The Village was incorporated on July 5, 1892 and as of June 9, 1994, operates as a home-rule unit of government. The Village is primarily residential and commercial in nature, with housing stock consisting of approximately 7,200 detached single-family homes and 4,100 multi-family dwelling units. The Village operates under a trustee form of government as defined by Illinois Compiled Statutes. The Village President, Village Clerk, and six trustees are elected at large to serve four-year terms, with three trustees elected every second year. The Village Manager is appointed by the Village President, with the advice and consent of the Village Board. Department directors are hired by the Village Manager with the consent of the Village Board. Village of Glen Ellyn Fast Facts Incorporated: 1892 Fiscal Year 2024 $63,926,389 Expenses: Population: 28,347 Fiscal Year 2024 $68,301,578 Median Age: 41.3 Revenues: Village Full Time Per Capita Personal 222.91 $73,337 Employees: Income: Village Bond Rating: Number of AAA 11,506 (by Standard and Poor) Households: Village of Glen Ellyn Popular Annual Financial Report 2 Page 253 of 268 Vision, Mission & Values VISION Glen Ellyn is a welcoming, engaged community where people want to live thanks to our vibrant downtown, diverse cultural offerings and exciting recreational opportunities — all provided in a safe, attractive environment for residents and visitors. MISSION Our mission is to support a high quality of life in Glen Ellyn. We do this through the equitable delivery of reliable, cost-effective services and by promoting a community of trust, respect and citizen involvement. VALUES RESPECT DIVERSITY, EQUITY AND INCLUSIVITY ACCOUNTABILITY BEST FOR THE LEADERSHIP COMMUNITY PRINCIPLES OF SERVICE TRUST 3 Popular Annual Financial Report Village of Glen Ellyn Page 254 of 268  Village Government VILLAGE OF GLEN ELLYN BOARD OF TRUSTEES BOARDS & COMMISSIONS VILLAGE MANAGER VILLAGE ATTORNEY POLICE FINANCE ADMINISTRATION Administration Accounts Payable Payroll Economic Development Emergency Preparedness Cashiers Utility Billing Communications Risk Management Investments Investigations Senior Services Operations Risk Management VILLAGE LINKS/RESERVE 22 Parking Records Banquets & Restaurant HUMAN RESOURCES Golf & Driving Range Benefits Administration Grounds PUBLIC WORKS Recruitment/Retention Stormwater Management/Parks Engineering Employee Training/Engagement Equipment Services Forestry COMMUNITY DEVELOPMENT Streets Building Permits Code Inspection Utilities Planning Zoning Facilities INFORMATION TECHNOLOGY Technology Management Glenbard Wastewater Authority Technical Support VILLAGE BOARD Donna Jean Simon Gary Fasules Kelley Kalinich Steve Thompson Kelli Christiansen Anne Gould Acting Trustee Trustee Trustee Trustee Trustee Village President Village of Glen Ellyn Popular Annual Financial Report 4 Page 255 of 268 Local Economy Economic Outlook The Village has a strong property tax base which is founded primarily in its residential housing stock. Total assessed value increased by 9.2% in 2024 compared to 2023. Glen Ellyn enjoys a stable and diversified commercial and retail sales base with shopping centers along the Roosevelt Road corridor, in the downtown Central Business District and at Historic Stacy’s Corners. In FY2012, the Village created the Central Business District (CBD) Tax Increment Financing (TIF) District in order to further promote maintaining and building upon the vitality of the downtown. In FY2014, the Village created the Roosevelt Road Tax Increment Financing (TIF) District in the Roosevelt Road corridor. The Village’s strategic goals cite the importance of proactive economic development to attract and retain key businesses in the Village. An update to the Village’s Financial Scorecard was completed in fiscal year 2020 which compared the Village to neighboring peer communities. The Scorecard indicates that Glen Ellyn is in a strong financial position with less debt and lower unfunded pension obligations than most of its peers. Economic revitalization and new development continue to be cited as potential areas to strengthen, which would boost sales tax revenues and generate non-residential property taxes. Investment in Public Infrastructure The Village continues its strong focus on maintaining and improving its infrastructure assets which contribute toward the quality of life in Glen Ellyn. The Village began construction of Phase 1 of the Central Business District Streetscape project during spring 2022. This phase of the project was placed into service in 2023. The CBD projects will continue through 2025, resulting in a nearly complete replacement of streets and sidewalks in the Village’s downtown along with repair and replacement of the water and sewer mains. The Village Board approved a $16.3 million contract in March 2023 for Phases 2 and 3 of the streetscape project, with these combined phases of the project placed into service in 2024. The Village also continues to fund its annual program to maintain and replace streets across the Village. 5 Popular Annual Financial Report Village of Glen Ellyn Page 256 of 268  Major Initiatives A key initiative of the Village’s current Strategic Plan is to maintain the financial stability of the Village. The Village has always been mindful to provide its services at a reasonable cost to the average taxpayer. To help taxpayers, the Village has historically voluntarily limited the increase in the property tax levy only by the Consumer Price Index (CPI) plus new growth, consistent with tax cap laws for non-home rule agencies. The Village has spurred efforts to increase economic development in Glen Ellyn. The Village also cites economic development as a key initiative in its strategic plan. The Village has two tax increment financing (TIF) districts. The Central Business District (CBD) TIF was created in 2012 for the purpose of revitalizing the downtown. In FY 2014, the Village created another TIF district in the Roosevelt Road corridor for the purpose of revitalizing certain properties within that commercial district. Village of Glen Ellyn Popular Annual Financial Report 6 Page 257 of 268 Financial Planning Initiatives Long Term Financial Planning The Village engages in multi-year capital and operations planning activities which extend beyond the annual budgetary period. In conjunction with the budget for the fiscal year which began January 1, 2024, long term capital investment programs have been prepared which identify planned projects and funding sources spanning at least a five-year period for the following activities and functions: Street resurfacing, reconstruction and Water and sanitary sewer system repairs/maintenance. repairs and improvements. Central business district commuter and Village-owned buildings/facilities and retail parking lot repairs/maintenance. fleet vehicles/heavy machinery. Sidewalk replacements. Storm sewer construction. 7 Popular Annual Financial Report Village of Glen Ellyn Page 258 of 268 Financial Polices Ensuring the Stewardship of Public Funds Cash Reserve Policy A cash reserve policy ensures the Village has funds for short-term revenue shortfalls and plans future spending to maintain adequate reserves. Financial Reporting The Village also has an accounting, auditing, and financial reporting policy which promotes sound financial recordkeeping and reporting. Revenue Policy A revenue policy ensures the Village’s revenue streams are diversified and that certain revenue streams are dedicated to fund specific services or programs. Financial Planning The Village set up Finance and Capital Improvements Commissions for long- term financial planning. Investment Policy The Village's investment policy aims to minimize market risk while achieving a competitive yield on its funds. Debt Policy A debt policy outlines guidelines for issuing debt as well as managing post- issuance repayment and compliance. Purchasing Policy All purchases made by the Village must adhere to its purchasing policy. Budget Policy A Village budget policy guides annual budget development for sound financial management and compliance with GFOA standards. Village of Glen Ellyn Popular Annual Financial Report 8 Page 259 of 268 Village Revenues Where Does the Money Come From? This section provides a detailed breakdown of the Village of Glen Ellyn's revenue sources for the fiscal year. Understanding where our revenue comes from helps ensure transparency and accountability in our financial management. FISCAL YEAR 2024 Revenue Source Amount Revenue Source Amount Property Taxes $11,071,411 Village Links/Reserve 22 Charges $8,199,282 Sales and Use Taxes $10,458,343 Parking Charges $2,045,955 State Income Taxes $4,898,639 Solid Waste Charges $2,043,395 Other Taxes $2,201,871 Charges for Services $6,316,500 Food & Beverage Taxes $1,800,927 Grants and Contributions $333,206 Municipal Utility Taxes $1,572,507 Other Revenues $4,258,970 Water & Sanitary Sewer $14,621,974 Total $69,822,980 9 Popular Annual Financial Report Village of Glen Ellyn Page 260 of 268 Village Expenses Where Does the Money Go? This section provides a detailed breakdown of the Village of Glen Ellyn's expenditures for the fiscal year. Understanding where money is spent from helps ensure transparency and accountability in our financial management. FISCAL YEAR 2024 What Services are Delivered for Every Expense Amount $100 Spent? General Government $9,275,308 $41.82‌ Public Safety $16,160,252 Infrastructure Services‌ Highways and Streets $11,507,753 Water and Sanitary Sewer $15,230,479 $39.79‌ Government Services‌ Village Links/Reserve 22 $8,195,358 Parking $893,591 $17.31‌ Community Services‌ Residential Solid Waste $1,975,782 Interest on Long-Term Debt $687,866 $1.08‌ Financial Obligations‌ Total $63,926,389 Village of Glen Ellyn Popular Annual Financial Report 10 Page 261 of 268 Statement of Net Position This section provides a detailed overview of the financial position of the Village of Glen Ellyn for the fiscal year. The Statement of Net Position highlights the Village's assets, liabilities, and net position, providing insight into the overall financial health and stability. Category 2024 2023 2022 Current and Other Assets $111,179,836 $114,991,549 $116,224,469 Capital Assets $234,570,165 $217,559,339 $210,712,464 Deferred Outflows of $6,839,133 $10,811,052 $11,347,510 Resources Total Assets + Deferred $352,589,134 $343,361,940 $338,284,443 Outflows of Resources Category 2024 2023 2022 Current Liabilities $9,032,560 $9,896,532 $10,772,805 Noncurrent Liabilities $60,994,605 $57,750,685 $59,254,538 Deferred Inflows of Resources $14,735,355 $13,784,700 $13,245,788 Total Liabilities and Deferred $84,762,520 $81,431,917 $83,273,131 Inflows of Resources Category 2024 2023 2022 Net Investment in Capital $206,732,996 $188,034,790 $179,787,310 Assets Restricted $19,339,065 $16,640,713 $13,178,620 Unrestricted $41,754,553 $57,254,520 $62,045,382 Total Net Position $267,826,614 $261,930,023 $255,011,312 NET POSITION FOR VILLAGE OF GLEN ELLYN, IL Net Investment in Capital Assets Restricted Unrestricted $300,000,000 $250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000 $0 2024 2023 2022 11 Popular Annual Financial Report Village of Glen Ellyn Page 262 of 268 Statement of Activities This section provides a detailed overview of the financial activities of the Village of Glen Ellyn for the fiscal year. The Statement of Activities highlights the Village's revenues and expenses, providing insight into the overall financial performance and operational results. Village Statement of Activities 2024 2023 2022 Revenues $69,822,980 $65,823,514 $64,165,250 Expenses $63,926,389 $58,904,803 $54,102,648 Change in Net Position $5,896,591 $6,918,711 $10,062,602 Net Position - Beginning $261,930,023 $255,011,312 $244,948,710 Net Position - Ending $267,826,614 $261,930,023 $255,011,312 Change in Net Position ($) $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $0 2024 2023 2022 Village of Glen Ellyn Popular Annual Financial Report 12 Page 263 of 268 Fund Balance General Fund This section provides a detailed overview of the changes in the General Fund balance of the Village of Glen Ellyn over the fiscal years. It highlights the total fund balance at the end of each fiscal year, providing insight into the financial stability and growth of the General Fund. The Village’s approved reserve policy for the Total Fund Balance - General Fund requires cash reserves of at least Fiscal Year General Fund 30% of current year operating expenditures. Cash reserves at December 31, 2024 exceeded 2015 $10,500,280 this minimum requirement. 2016 $10,448,611 2017 $10,184,260 2018 $10,044,600 2019 $10,984,998 2020 $12,586,543 2021 $14,752,456 2022 $16,061,848 2023 $15,285,434 2024 $13,787,995 Total Fund Balance - General Fund $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 13 Popular Annual Financial Report Village of Glen Ellyn Page 264 of 268 Pension Obligations This section provides a detailed overview of the Village of Glen Ellyn's pension obligations for the fiscal year. It includes information on contributions, total pension liabilities, plan fiduciary net position, and the funding status for both the IMRF and Police Pension plans. IMRF Pension Fast Facts Village Contribution for 2024 Fiscal Year $453,962 Total Pension Liability as of December 31, 2024 $54,724,463 Total Plan Fiduciary Net Position $54,280,651 Village's Net Pension Liability $443,812 The Village maintains two public pension plans to Village's Percent Funded cover Village employees. The benefits and funding requirements of each plan are determined by Illinois 99.19% State Statute. Each plan provides retirement, disability and death benefits for qualifying Police Pension Fast Facts participants. Current Illinois State Statute requires public pensions to be 90% funded by the year 2040, Village Contribution for 2024 Fiscal Year but the Village takes a more fiscally prudent approach to funding, and funds contributions $2,152,200 assuming a 100% funded target by the year 2040. Total Pension Liability as of December 31, 2024 $67,703,303 Total Plan Fiduciary Net Position $41,484,269 Village's Net Pension Liability $26,219,034 Village's Percent Funded 61.27% Village of Glen Ellyn Popular Annual Financial Report 14 03 Page 265 of 268 Property Taxes Where Does Your Property Tax Dollar Go? Schools Other Agencies $0.76 $0.13 Library Village $0.04 $0.07 Taxes collected from property owners based upon assessed valuation and tax rate. Taxing Agency % of Property Tax Dollar Grade & High Schools $0.76 Other Agencies $0.13 Library $0.04 Village $0.07 Each dollar of property tax paid by Village taxpayers is distributed across various taxing districts. This data illustrates a typical tax bill for a Village Property taxpayer. 15 Popular Annual Financial Report Village of Glen Ellyn Page 266 of 268 A MESSAGE FROM YOUR FINANCE DEPARTMENT The Village of Glen Ellyn is required to perform an audit of its finances each year. The Village has elected to exceed minimum reporting and disclosure standards by producing an Annual Comprehensive Financial Report. The Government Finance Officers Association (GFOA) administers the Annual Comprehensive Financial Report (ACFR) Program, which is designed to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles (GAAP) to prepare more comprehensive annual financial reports that evidence the spirit of transparency and full disclosure. The Village‘s Annual Comprehensive Financial Report has been awarded the GFOA Certificate of Achievement for Excellence in Financial Reporting for thirty-seven consecutive years. For more information on financial matters of the Village of Glen Ellyn, please call the Finance Department at 630-469-5000. VISIT THE FINANCE DEPARTMENT WEBSITE AT: www.glenellyn.org/195/Finance The Village’s website contains additional information, including the Village’s Annual Comprehensive Financial Report, budget documents, Board of Trustee agendas and minutes, as well as other useful information. We hope that you find this PAFR both useful and informative. Any questions, comments or suggestions regarding this report can be directed to: Finance Department Patrick Brankin, CPA Finance Director Page 267 of 268  Finance Department 535 Duane Street | Glen Ellyn, IL 60137 www.glenellyn.org Page 268 of 268