Budget Message / Highlights - Metropolitan Water Reclamation ...
Budget Message / Highlights - Metropolitan Water Reclamation ... Budget Message / Highlights - Metropolitan Water Reclamation ...
METROPOLITAN WATER RECLAMATION DISTRICT OF GREATER CHICAGO 2009 BUDGET BOND AND INTEREST FUNDS Appropriation for Payment of Outstanding Bonds During the Year 2009 JANUARY 1, 2009 JULY 1, 2009 RATES OF INTEREST PRINCIPAL INTEREST PRINCIPAL TOTAL BOND ISSUE INTEREST PAYABLE PAYABLE PAYABLE PAYABLE PAYABLE Capital Improvement Bonds - Series: Series C Unlimited Tax - Dec 2002 5.38 $ 163,938 (1) $ - $ 163,938 (2) $ - (2) $ 327,876 Series D Limited Tax - Dec 2002 3.75 to 5.375 1,817,688 (1) - 1,817,688 (2) 14,400,000 (2) 18,035,376 July 2006 Limited Tax 5.00 3,489,125 (1) - 3,489,125 (2) - (2) 6,978,250 State Revolving Fund Bonds - Series: 90A SRF L 170393 3.59 59,152 303,785 53,699 309,238 725,874 90B SRF L 170401 3.745 30,399 258,179 25,564 263,013 577,155 90C SRF L 170414 3.745 22,333 189,674 18,781 193,225 424,013 90D SRF L 170416 3.59 5,149 38,824 4,452 39,521 87,946 91E SRF L 170391 3.59 55,148 317,583 49,447 323,283 745,461 91F SRF L 170672 3.59 44,792 292,847 39,535 298,104 675,278 91G SRF L 170407 3.59 7,419 48,508 6,549 49,378 111,854 91 I SRF L 170667 3.59 2,805 21,155 2,426 21,535 47,921 91L SRF L 170675 3.59 29,680 194,045 26,196 197,529 447,450 92P SRF L 170774 2.50 135,435 924,951 123,873 936,511 2,120,770 92Q SRF L 170874 2.50 122,498 698,937 113,762 707,672 1,642,869 94R SRF L 170820 2.50 170,288 679,585 161,794 688,080 1,699,747 92S SRF L 170875 2.50 78,190 381,731 73,418 386,503 919,842 92T SRF L 170876 2.50 116,912 497,208 110,697 503,423 1,228,240 92U SRF L 170877 2.50 138,476 552,629 131,568 559,535 1,382,208 94V SRF L 171150 2.50 237,283 841,320 226,767 851,836 2,157,206 97AA SRF L 170822 2.506 391,046 1,240,843 375,499 1,256,390 3,263,778 97BB SRF L 171151 2.535 85,465 242,144 82,396 245,214 655,219 97CC SRF L 172031 2.535 343,301 847,548 332,559 858,292 2,381,700 97DD SRF L 171152 2.905 182,452 337,072 177,556 341,968 1,039,048 01A SRF L 172126 2.57 620,503 1,277,832 604,083 1,294,253 3,796,671 01B SRF L 172127 2.50 648,266 1,279,308 632,275 1,295,299 3,855,148 01C SRF L 172128 2.50 598,410 1,098,734 584,676 1,112,468 3,394,288 04A SRF L 172485 2.50 126,945 166,242 98,214 168,322 559,723 04B SRF L 172488 2.50 308,750 428,440 253,117 433,795 1,424,102 04C SRF L 172493 2.50 31,809 54,515 31,128 55,197 172,649 04D SRF L 172494 2.50 30,504 52,279 29,851 52,933 165,567 04E SRF L 172495 2.50 83,231 112,818 68,913 114,229 379,191 04G SRF L 172611 2.50 48,453 83,040 47,415 84,078 262,986 Refunding Bonds - Series: August 1992 6.00 to 6.05 465,850 (1) - 465,850 (2) 15,400,000 (2) 16,331,700 July 1997 5.00 to 5.50 445,500 (1) - 445,500 (2) 16,200,000 (2) 17,091,000 May 2006 Unlimited 5.035 8,665,000 (1) - 8,665,000 (2) - (2) 17,330,000 May 2006 Limited 5.035 1,269,750 (1) - 1,269,750 (2) - (2) 2,539,500 March 2007 Unlimited Series A 5.00 4,650,375 (1) - 4,650,375 (2) - (2) 9,300,750 March 2007 Unlimited Series B 5.00 2,410,931 (1) - 2,410,932 (2) - (2) 4,821,863 March 2007 Limited Series C 5.00 2,673,825 (1) - 2,673,825 (2) - (2) 5,347,650 TOTAL $ 30,807,077 $ 13,461,775 $ 30,538,193 $ 59,640,824 $ 134,447,869 (1) Interest Payable June 1, 2009 and/or December 1, 2009. (2) Interest and Principal Payable December 1, 2009. 423 423
METROPOLITAN WATER RECLAMATION DISTRICT OF GREATER CHICAGO 2009 BUDGET RETIREMENT FUND Description of Fund, Purpose and Operation The Metropolitan Water Reclamation District Retirement Fund Active Participants is a defined benefit fund that provides disability and retirement 2,500 benefits to the employees of the Metropolitan Water Reclamation District of Greater Chicago according to Chapter 40, Act 5, Article 13 of the Illinois Compiled Statutes. 2,144 2,140 2,084 2,137 2,067 2,060 2,051 2,025 1,995 2,002 Public Act 95-0923 which was signed by the Governor on August 26, 2008, adds two additional trustees (one appointed 2,000 retiree and one elected active employee) to the Board of Trustees for a total of seven members authorized to carry out the provisions of the statute. The Board will consist of three appointed and four elected trustees. Each of the three appointed 1,500 trustees will serve a term of three years and each of the four elected active employees will serve a term of four years. The term of one appointed and one elected trustee will expire each 1,000 year. Public Act 95-0891, which also became effective in August 2008, amends the MWRD Act to allow the Board of Commissioners to transfer interest earned on any moneys to the MWRD 500 Retirement Fund, as well as to the funds that are in most need of the money. As of December 31, 2007, there were 2,002 active (contributing) participants in the Fund and 2,338 beneficiaries. Annuities accounted for 2,276 of these beneficiaries including 1,600 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 0 retired employees, 654 surviving spouses, and 22 children. Additionally, the Fund was paying disability benefits to 62 District employees. An Optional Contribution Plan approved by the Illinois State Legislature in 1987, was amended in 1993, 1997 and 2002. The plan allowed employees to make additional contributions to the fund through December 31, 2007. Beginning in 2003, it allowed increases in retirement annuities of up to 12 percent of the employee’s final average salary. Employee contributions to this program during 2004, 2005 and 2006 totaled $1,153,704, $1,208,493, and $1,331,828 respectively. 2,500 2,000 1,500 1,000 500 0 Beneficiaries 2,205 2,230 2,215 2,201 2,217 2,255 2,279 2,314 2,338 2,244 Children Annuitants Disabilities Spouse Annuitants Employee Annuitants 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 Million $ 1,500 1,400 1,300 1,200 1,100 1,000 900 800 700 600 500 400 300 200 100 0 969 Assets at Actuarial Value 1,257 1,110 1,156 1,137 1,147 1,162 1,172 1,210 1,047 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 424 424
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METROPOLITAN WATER RECLAMATION DISTRICT OF GREATER CHICAGO<br />
2009 BUDGET<br />
BOND AND INTEREST FUNDS<br />
Appropriation for Payment of Outstanding Bonds During the Year 2009<br />
JANUARY 1, 2009 JULY 1, 2009<br />
RATES OF INTEREST PRINCIPAL INTEREST PRINCIPAL TOTAL<br />
BOND ISSUE INTEREST PAYABLE PAYABLE PAYABLE PAYABLE PAYABLE<br />
Capital Improvement Bonds - Series:<br />
Series C Unlimited Tax - Dec 2002 5.38 $ 163,938 (1) $ - $ 163,938 (2) $ - (2) $ 327,876<br />
Series D Limited Tax - Dec 2002 3.75 to 5.375 1,817,688 (1) - 1,817,688 (2) 14,400,000 (2) 18,035,376<br />
July 2006 Limited Tax 5.00 3,489,125 (1) - 3,489,125 (2) - (2) 6,978,250<br />
State Revolving Fund Bonds - Series:<br />
90A SRF L 170393 3.59 59,152 303,785 53,699 309,238 725,874<br />
90B SRF L 170401 3.745 30,399 258,179 25,564 263,013 577,155<br />
90C SRF L 170414 3.745 22,333 189,674 18,781 193,225 424,013<br />
90D SRF L 170416 3.59 5,149 38,824 4,452 39,521 87,946<br />
91E SRF L 170391 3.59 55,148 317,583 49,447 323,283 745,461<br />
91F SRF L 170672 3.59 44,792 292,847 39,535 298,104 675,278<br />
91G SRF L 170407 3.59 7,419 48,508 6,549 49,378 111,854<br />
91 I SRF L 170667 3.59 2,805 21,155 2,426 21,535 47,921<br />
91L SRF L 170675 3.59 29,680 194,045 26,196 197,529 447,450<br />
92P SRF L 170774 2.50 135,435 924,951 123,873 936,511 2,120,770<br />
92Q SRF L 170874 2.50 122,498 698,937 113,762 707,672 1,642,869<br />
94R SRF L 170820 2.50 170,288 679,585 161,794 688,080 1,699,747<br />
92S SRF L 170875 2.50 78,190 381,731 73,418 386,503 919,842<br />
92T SRF L 170876 2.50 116,912 497,208 110,697 503,423 1,228,240<br />
92U SRF L 170877 2.50 138,476 552,629 131,568 559,535 1,382,208<br />
94V SRF L 171150 2.50 237,283 841,320 226,767 851,836 2,157,206<br />
97AA SRF L 170822 2.506 391,046 1,240,843 375,499 1,256,390 3,263,778<br />
97BB SRF L 171151 2.535 85,465 242,144 82,396 245,214 655,219<br />
97CC SRF L 172031 2.535 343,301 847,548 332,559 858,292 2,381,700<br />
97DD SRF L 171152 2.905 182,452 337,072 177,556 341,968 1,039,048<br />
01A SRF L 172126 2.57 620,503 1,277,832 604,083 1,294,253 3,796,671<br />
01B SRF L 172127 2.50 648,266 1,279,308 632,275 1,295,299 3,855,148<br />
01C SRF L 172128 2.50 598,410 1,098,734 584,676 1,112,468 3,394,288<br />
04A SRF L 172485 2.50 126,945 166,242 98,214 168,322 559,723<br />
04B SRF L 172488 2.50 308,750 428,440 253,117 433,795 1,424,102<br />
04C SRF L 172493 2.50 31,809 54,515 31,128 55,197 172,649<br />
04D SRF L 172494 2.50 30,504 52,279 29,851 52,933 165,567<br />
04E SRF L 172495 2.50 83,231 112,818 68,913 114,229 379,191<br />
04G SRF L 172611 2.50 48,453 83,040 47,415 84,078 262,986<br />
Refunding Bonds - Series:<br />
August 1992 6.00 to 6.05 465,850 (1) - 465,850 (2) 15,400,000 (2) 16,331,700<br />
July 1997 5.00 to 5.50 445,500 (1) - 445,500 (2) 16,200,000 (2) 17,091,000<br />
May 2006 Unlimited 5.035 8,665,000 (1) - 8,665,000 (2) - (2) 17,330,000<br />
May 2006 Limited 5.035 1,269,750 (1) - 1,269,750 (2) - (2) 2,539,500<br />
March 2007 Unlimited Series A 5.00 4,650,375 (1) - 4,650,375 (2) - (2) 9,300,750<br />
March 2007 Unlimited Series B 5.00 2,410,931 (1) - 2,410,932 (2) - (2) 4,821,863<br />
March 2007 Limited Series C 5.00 2,673,825 (1) - 2,673,825 (2) - (2) 5,347,650<br />
TOTAL $ 30,807,077 $ 13,461,775 $ 30,538,193 $ 59,640,824 $ 134,447,869<br />
(1) Interest Payable June 1, 2009 and/or December 1, 2009. (2) Interest and Principal Payable December 1, 2009.<br />
423<br />
423
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