The URL can be used to link to this page

Home My WebLink About01-33 Resolution No. 01-33 RESOLUTION AUTHORIZING EXECUTION OF A PURCHASE OF SERVICE AGREEMENT WITH THE CHANNING YMCA BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS, that Joyce A. Parker, City Manager, and Dolonna Mecum, City Clerk, be and are hereby authorized and directed to execute a Purchase of Service Agreement on behalf of the City of Elgin with the Channing YMCA for youth programs, a copy of which is attached hereto and made a part hereof by reference . s/ Ed Schock Ed Schock, Mayor Presented: February 14, 2001 Adopted: February 14, 2001 Omnibus Vote: Yeas : 7 Nays : 0 Attest : s/ Dolonna Mecum Dolonna Mecum, City Clerk SERVICE AGREEMENT THIS AGREEMENT is made and entered into this ignPay of m_62 , 2001, by and between the CHANNING YMCA, an Illinois not-for-profit organization. (hereinafter referred to as the "YMCA") and the CITY OF ELGIN, Illinois, a municipal corporation (hereinafter referred to as the "City"). WHEREAS, the City of Elgin, Illinois has determined it to serve a beneficial public purpose to discourage criminal activity through the promotion of alternative activities for minors and to be in its best interests to aid the promotion of such activities; and WHEREAS, the YMCA provides activities to minors. NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 1. The City shall pay to the YMCA the sum of$30,000 on or before March 15, 2001. 2. The YMCA shall address all initial inquiries and requests made pursuant to this agreement to the City's Recreation and Facilities Superintendent. 3. The YMCA shall apply the aforementioned $30,000 to youth programming efforts. 4. The YMCA shall provide two written detailing the disbursement of$30,000. These reports shall be provided to the City Council by May 31, 2001 and December 31. 2001, and shall include all program activity. These reports shall be submitted to the City Manager's Office, City Hall, 150 Dexter Court, Elgin, IL 60120. 5. YMCA shall provide City with financial statements relative to the organization's total operations. These statements shall be provided on or before July 31, 2001 and December 31, 2001. 6. The City shall have the right to review all accounting records related to the use of the 530,000. 7. To the fullest extent permitted by law, YMCA agrees to indemnify, defend and hold harmless the City, its officers, employees, boards and commissions from and against any and all claims, suits, judgments, costs, attorney's fees, damages or other relief arising out of or resulting from or through or alleged to arise out of any reckless or negligent acts or omissions of YMCA's officers, employees or agents in the performance of this agreement. In the event of any action against the City, its officers, employees, agents, boards or commissions covered by the foregoing duty to indemnify, defend an hold harmless, such action shall be defended by legal counsel of the City's choosing. 8. No official, director, agent or employee of the City shall be charged personally or held contractually liable under any term or provision of this Agreement or because of their execution, approval or attempted execution of this Agreement. This Agreement, the documents it incorporates and its attachments constitute the entire Agreement of the parties on the subject matter hereof and may not be changed, modified, discharged or extended except by written amendment duly executed by the parties. 9. This agreement shall be in full force and effect from February 15, 2001 through December 31, 2001. 10. Funds provided by the City shall not be used directly or indirectly for religious activities; in the event that a primarily religious entity provides the public services provided for herein, in whole or in part, it may not discriminate in employment or services on the basis of religion and no religious services shall be provided. 11. This agreement shall not be construed so as to create a partnership,joint venture, employment or other agency relationship between the parties hereto. 12. The terms of this agreement shall be severable. In the event any of the terms or provisions of this agreement shall be deemed void or unenforceable for any reason, the remainder of this agreement shall remain in full force and effect. 13. This agreement shall be subject to and governed by the laws of the State of Illinois. Venue for the resolution of any disputes or the enforcement of any rights arising out of or in connection with this agreement shall be in the Circuit Court of Kane County, Illinois. 14. In the event the program for which the City funds provided herein are to be applied is discontinued or the YMCA ceases its operations prior to December 31, 2001, the YMCA shall refund to the City on a pro rata basis the funds paid hereunder for the portion of the year such program or its operations were not conducted. IN WITNESS WHEREOF, the parties hereto have executed this agreement on the date and year first written above. CITY OF ELGIN, a municipal corporation By . Jo •e A. "-rker, City Manager Attest: City Clerk CHANNING YMCA A not-for-profit corporation By ,>: Pat Nelson: xecutive Director The Greater Elgin Area YMCA Channing YMCA • Taylor YMCA • Edwards Camp &Conference Center January 16, 2001 Ms. Maria Cumpata City of Elgin 150 Dexter Court Elgin, IL 60120-5555 Dear Maria: Again, thank you for your help and support. The City's contribution of$30,000 is most appreciated and helpful to the YMCA and the many of youth served. For the year 2000, the support sponsored youth in the following programs: PASS (After School Program): $15,000 Summer Day Camp Sponsorship: $15.000 Total $30,000 These are vital services for a great many boys and girls. On behalf of the YMCA, Board of Directors, and staff. Thank you. Sincerely, )2 Patrick L. Nelson Chief Executive Officer cc: Cathi Bork Greg Weider r You c. • 't spell FAMILY without the. Y. •Channing YMCA 111 N. Charming Street Elgin. Illinois 60120 Telephone: (847) 888-7400 Fax: (847) 888-7433 •Taylor YMCA 50 N. Mc Lean Boulevard Elgin, Illinois 60123 Telephone: (847) 888-7410 Fax: (847) 888-8152 'e •Camp Edwards P.O. Box 16 East Troy,Wisconsin 53120 Telephone: (41.4) 642-7466 Fax: (414)642-5108 Unitad AgencY ( 2000 INVEST IN YOUTH Programs # of $ Value United 1W City of Bethlehem people Way Support Elgin Lutheran served Sul tort Su i s ort Church JORP 106 $105,200 $72,376 $32,824 Day Camp 431 $32,411 $16,411 $15,000 $1,000 Channin. Day Camp _ 368 $21,500 Taylor PASS & Gym 241 $109,468 $29,500 $43,080 $15,000 and Swim Charming _ AAC Taylor 15 $13,020 Senior Support 554 $56,508 (both branches) Aquatic/Youth 35 $1,145 $ 1,145 Sports Programs (both branches) Membership 89 $30,971 Assistance Charming Membership 54 $ 8,625 Assistance Taylor Youth/Student 584 $111,225 Fee Reductions , (both branches). TOTALS 2,477 $490,073 : i $93,460 $30,000 $1,000 he Greater T 714iV® Elgin Area YMCA Channing YMCA • Taylor YMCA • Edwards Camp &Conference Center January 16, 2001 Ms. Maria Cumpata City of Elgin 150 Dexter Court Elgin, IL 60120-5555 Dear Maria: Again, thank you for your help and support. The City's contribution of$30,000 is most appreciated and helpful to the YMCA and the many of youth served. For the year 2000, the support sponsored youth in the following programs: rijk PASS (After School Program): $15,000 Summer Day Camp Sponsorship: $15.000 Total $30,000 These are vital services for a great many boys and girls. On behalf of the YMCA, Board of Directors, and staff. Thank you. Sincerely, • Patrick L. Nelson Chief Executive Officer cc: Cathi Bork Greg Weider r You can't spell FAMILY without the Y. •Channing YMCA i l 1 N. Channing Street Elgin, Illinois 60120 Telephone: (847)888-7400 Fax:(847)888-7433 •Taylor YMCA 50 N. Mc Lean Boulevard Elgin, Illinois 60123 Telephone: (847)888-7410 Fax: (847) 888-8152 ) •Camp Edwards P.O. Box 16 East Troy,Wisconsin 53120 Telephone:(414) 642-7466 Fax:(414) 642-5108 Way keno/ 2000 INVEST IN YOUTH • Programs #of $ Value United IIY City of Bethlehem people Way Support Elgin Lutheran served Support Su port Church JORP 106 $105,200 $72,376 $32,824 Day Camp 431 $32,411 $16,411 $15,000 $1,000 Charring Day Camp 368 $21,500 Taylor PASS & Gym 241 $109,468 $29,500 $43,080 $15,000 and Swim Channing AAC Taylor 15 $13,020 Senior Support 554 $56,508 (both braifehes) Aquatic!Youth 35 $1,145 $ 1,145 Sports Programs(both branches) Membership 89 $30,971 Assistance Charming Membership 54 $ 8,625 Assistance Taylor Youth/Student 584 $111,225 Fee Reductions ' (both branches) TOTALS 2,477 $490,073 $ 101,876 $93,460 $30,000 $1,000 THE YOUNG MEN'S CHRISTIAN ASSOCIATION OF THE GREATER ELGIN AREA AUDITED FINANCIAL STATEMENTS YEARS ENDED JUNE 30,2000 AND 1999 4 I I I I I CONTENTS Basic Financial Statements Independent Auditor's Report 1 Statement of Financial Position .2 Statement of Activities and Changes in Nat.Assets 3 Statement of Functional Expenses 4 Statement of Cash Flows 5 Notes to Financial Statements 6-11 Supplementary Information Auditor's Report on Supplemental Schedules 12 Statement of Activities by Program—Unrestricted Funds 13 • • • MICHAEL C. WALSH & ASSOCIATES, P.C. CERTIFIED PUBLIC ACCOUNTANTS Michael C. Walsh, C.P.A. 1595 Weld Road Brenda L.Reynolds, C.P.A. Elgin,IL 60123 (847)695-2700. 200 Hillcrest Avenue Yorkville,IL 60560 (630) 553-6566 Independent Auditor's Report Board of Directors The Young Men's Christian Association Of the Greater Elgin Area Elgin, Illinois 60120 We have audited the accompanying statements of financial position of The Young Men's Christian Association of the Greater Elgin Area as of June 30, 2000 and 1999, and the related statements of activities and changes in net assets, functional expenses and cash flows for the yearS then ended. These financial statements are the responsibility of the Agency's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of The Young Men's Christian Association as of June 30, 2000 and 1999, and the changes in its net assets and its cash flows for the years then ended in conformity with generally accepted accounting principles. Elgin, Illinois September 22, 2000 -1- I THE YOUNG MEN'S CHARISTIAN ASSOCIATION I OF THE GREATER ELGIN AREA. Statement of Financial Position June 30, 2000 and 1999 I --- 2000 ASSETS General Plant Endowment Current Assets: Fund Fund Fund Cash 475,470 113,684 34,977 Receivables, net of allowance for - doubtful.accounts ($1950) 75,192 - Due from other funds 441,908 7,436 1,000 Inventories 29,891 - - f Prepaid expenses 87,084- - - 1 Interest receivable - - 1,385 Total current assets 1,109,545 121,120 37,362 Noncurrent Assets: Property and equipment, net of accumulated depreciation (Note 2) - 4,712,182 - Investments - - 303,791 Total noncurrent assets - 4,712,182 303,791 Total assets 1,109,545 4,833,302 341,153 I l LIABILITIES AND NET ASSETS Current liabilities: Due to other funds 228,288 217,763 4,294 Accounts payable and accrued expenses 244,333 - - Deferred revenue & program deposits 312,532 - - Custody deposits 38,364 - - Total current liabilities 823,517 217,763 4,294 Net assets: Unrestricted 236,901 - - Temporarily restricted 49,127 - - Permanently restricted - 4,615,539 336,859 ■ Total net assets 286,028 4,615,533 336,859 Total liabilities and net assets 1,109,545 4,833,302 341,153 The accompanying notes are an integral part of these financial statement 1 1 I 1999--- Total General Plant Endowment Total 1 Fund Fund Fund Fund Fund 624,131 684,703 69,713 30,173 784,589 75,192 54,840 - - 54,840 450,344 338,418 7,436 1,000 346,854 29,891 24,220 - - • 24,220 87,084 69,318 � - 69,318 1,385 1,736 1,736 1,268,027 1,171,499 77,149 32,909 1,281,557 14 4,712,182 - 4,746,158 - 4,746,158 ,$ 303,791 - - 279,688 279,688 5,015,973 - 4,746,158 279,688 5,025,846 6,284,000 1,171,499 4,823,307 312,597 6,307,403 r si 450,345 232,543 110,017 4,294 346,854 244,333 219,228 45,500 264,728 iii 312,532 306,155 - - 306,155 38,364 27,374 - - 27,374 1,045,574 785,300 155,517 4,294 945,111 I ii 236,901 163,599 - - 163,599 1 49,127 222,600 - - 222,600 -, 4,952,398 4,667,790 308,303 4,976,093 II 5,238,426 386,199 4,667,790 308,303 5,362,292 1 6,284,000 1,171,499 4,823,307 312,597 6,307,403 V - - I- 1 . . !PK ot, , ii , THE YOUNG MEN'S CHRISTIAN ASSOCIATION OF THE GREATER ELGIN AREA Statement of Activities and Changes in Net Assets For the year ended June 30, 2000 and 1999 Unrestricted Temporarily Permanently Funds Restricted Restricted Total Total (See Page 41 Funds Funds 2000 1999 Revenue: . Membership and programs $ 2,372,958 - - 2,372,958 2,210,294 Public Support 304,965 - 61,594 366,559 610,886 Sales, service and rentals 108,995 - 108,995 104,363 Increase in maintenance reserves - - 62,031 62,031 3,288 Investment revenues 3,853 - 20,148 24,001 20,495 Net assets released from restrictions 173,473 (173,473) - - - Total revenue 2,964,244 (173,473) 143,773 2,934,544 2,949,326 Functional Expenses: Physical programs 343,841 - - 343,841 277,770 Aquatic programs • 178,635 - - 178,635 159,600 Youth programs 447,599 - - 447,599 389,466 Membership 355,933 - - 355,933 313,056 Food Service 231,520 - - 231,520 229,128 Administration 658,865 - - 658,865 591,980 Maintenance 674,549 - 2,690 677,239 601,229 Fundraising - - - - - Total expenses before depreciation 2,890,942 - 2,690 2,893,632 2,562,229 Revenue over(under) expenditures before depreciation 73,302 (173,473) 141,083 40,912 387,097 Depreciation - - (164,778) (164,778) (159,279) Change in net assets 73,302 (173,473) (23,695) (123,866) 227,818 Net asset balance, beginning 163,599 - 222,600 4,976,093 5,362,292 5,146,799 Prior period adjustment - - - - (12,325) Net asset balance, restated 163,599 222,600 . 4,976,093 5,362,292 5,134,474 Net asset balance, ending $ 236,901 49,127 4,952,398 5,238,426 5,362,292 The accompanying notes are an integral part of these financial statements. -3- L I THE YOUNG MEN'S CHRISTIAN ASSOCIATION OF THE GREATER ELGIN AREA ""'"` Statement of Functional Expenses - Unrestricted Funds For the year ended June 30, 2000 ------- PROGRAM SERVICES PHYSICAL AQUATICS YOUTH MEMBERSHIP Expenses: Salaries and benefits: Wages $ 165,402 138,501 213,960 194,939 Payroll taxes 12,244 11,131 17,809 14,470 Contract services - - 12,758 - Health & retirement 14,855 7,141 15,553 8,880 Employee expenses 2,280 1,286 1,635 1,286 Training 578 703 739 578 Hire expenses 1,847 354 965 353 197,206 159,116 263,419 . 220,506 . [ Occupancy & repair Supplies 4,345 1,086 6,698 5,975 ellik Utilities 4,433 1,108 6,834 6,094 Equipment 3,275 819 5,049 4,502 Maintenance reserves 8,831 2,208 13,615 12,142 . 20,884 5,221 32,196 28,713 • General and administrative Supplies 78,843 3,793 52,642 37,386 . Program equipment 5,000 - 29,837 10,701 Marketing & promotion 6,388 1,624 14,745 9,789 Accounting & audit 1,666 417 2,569 2,290 Postage 2,872 718 4,428 3,949 Dues 9,636 2,409 14,856 13,250 Insurance 14,591 3,648 22,494 20,062 Other 6,755 1,689 10,413 9,287 125,751 14,298 151,984 106,714 Total expenses 343,841 178,635 447,599 355,933 ` The accompanying notes are an integral part of these financial statements. e`' -4- • ----------- SUPPORT SERVICES TOTAL TOTAL PROGRAM SUPPORT GRAND FOOD SERVICES ADMIN MAINT. SERVICES TOTAL 105,513 818,315 425,568 202,839 628,407 1,446,722 7,791 63,445 32,277 15,583 47,860- 111,305 - 12,758 - 14,909 14,909 27,667 9,240 55,669 92,691 29,129 121,820 177,489 - 6,487 15,432 358 15,790 22,277 - 2,598 6,937 - 6,937 9,535 3,519 4,243 - 4,243 7,762 122,544 962,791 577,148 262,818 839,966 1,802,757 - 18,104 3,195 18,528 21,723 39,827 - 18,469 3,259 307,227 310,486 328,955 13,645 2,408 24,080 26,488 40,133 i 36,796 6,494 61,896 68,390 105,186 - 87,014 15,356 411,731 427,087 514,101 i105,979 278,643 17,727 - 17,727 296,370 2,997 48,535 16,773 ,- 16,773 65,308 32,546 5,743 - 5,743 38,289 6,942 1,225 1,225 8,167 - 11,967 2,112 • - 2,112 14,079 I _- 40,151 7,085 - 7,085 47,236 60,795 10,729 10,729 71,524 - 28,144 4,967 4,967 33,111 108,976 507,723 66,361 - 66,361 574,084 I231,520 1,557,528 658,865 674,549 1,333,414 2,890,942 I I ir • • THE YOUNG MEN'S CHRISTIAN ASSOCIATION l OF THE GREATER ELGIN AREA Statement of Cash Flows Years ended June 30, 2000 and 1999 • 2000 Temporarily Permanently Unrestricted Restricted Restricted Total i Increase (Decrease) in net assets $ 73,302 (173,473) (23,695) (123,866) Add changes not requiring cash: Depreciation - - 164,778 164,778 (Gain) or loss on sales - - (147) (147) Changes in non-cash components of - working capital: - Receivables (20,352) - 351 (20,001) Inventories (5,671) - - (5,671) Prepaid expenses (17,766) - - (17,766) Accounts payable and accrued - expenses 25,106 - (45,500) (20,394) Deferred revenues 6,377 - - 6,377 Custody accounts 10,990 - - 10,990 Net cash flows provided from (used in) operations 71,986 (173,473) 95,787 (5,700) Cash flows from investing activities: Proceeds from sales and maturity of investments - - 15,859 15,859 Purchase of investments - - (3g,814) (39,814) Purchase of property, equipment and construction in progress - - (130,803) (130,803) Net cash flows from investing activities - - (154,758) (154,758) - Cash flows from financing activities: Proceeds (Payments) on mortgages and notes payables - - - - Advances from (to) other funds (107,746) - 107,746 - Fund transfers - - - - Change in reserve - - - - Net cash flows financing activities (107,746) - 107,746 - Increase (Decrease) in cash (35,760) (173,473) 48,775 (160,458) Cash - Beginning of year 462,103 222,600 99,886 784,589 Cash - End of year $ 426,343 49,127 148,661 624,131 Suopiementary information: interest paid - - The accompanying notes are an integral part of these financial statements. -5- 1 1 I1999 -- Temporarily Permanently I Unrestricted Restricted Restricted Total 95,981 222,600 (90,763) 227,818 - - 159,279 159,279 - - (9) (9) - 5,737 - 9,863 15,600 2,208 2,208 - 2,779 2,779 (35,537) - 45,500 9,963 117,296 117,296 (10,584) - - (10,584) 1 0110+ 177,880 222,600 123,870 524,350 - - 29,805 29,805 - - (30,054) (30,054) I - - (152,386) (152,386) - - (152,635) (152,635) i - S,009 - I (5,009) - - (5,009) - 5,009 - 172,871 222,600 (23,756) 371,715 289,232 - 123,642 412,874 462,103 222,600 99,886 784,589 rib* I THE YOUNG MEN'S CHRISTIAN ASSOCIATION OF THE GREATER ELGIN AREA Notes to Financial Statements June 30, 2000 and 1999 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A. Background —The Young Men's Christian Association of the Greater Elgin Area (the"YMCA") operates three facilities: 111 N. Channing Street —Elgin, IIlinois 1 (Channing Branch) 50 N. McLean Blvd. —Elgin., Illinois (Taylor Branch) Camp Edwards—East Troy, Wisconsin The operations of all three facilities, including current operating funds, plant P g funds and related endowment funds are included in the accompanying financial 1 tow statements. Mission Statement — To put Christian principles into practice through programs that build a healthy spirit, mind and body for all. B. Principles of Accounting — The accompanying financial statements were prepared in accordance with the accrual basis of accounting, in which revenue is recognized when earned or becomes otherwise available and expenses are recognized when incurred. Separate accounts are maintained for each fund: however, in the accompanying financial statements, funds that have similar characteristics have been combined into the following fund groups. Current Funds, which include unrestricted and Board designated resources, represent the portion of expendable funds that is available for support of the YMCA's operations. Plant Funds, represent resources restricted for plant acquisitions. Endowment Funds, represent funds that are subject to restrictions of gift instruments requiring, in perpetuity, that the principal be invested and the revenues only be used for the purpose specified. Endowment Fund investment earnings are transferred to the other funds. -6- I I I TIE YOUNG MEN'S CHRISTIAN ASSOCIATION OF THE GREATER ELGIN AREA Notes to Financial Statements (Cont.) June 30, 2000 and 1999 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont.) C. Property and Equipment and Depreciation — Property and equipment are stated at cost, if purchased, or fair market value as of the date received, if donated to the YMCA. The YMCA capitalizes acquistions over $1,000. Operating funds used for plant acquisitions are accounted for as transfers to plant funds. Depreciation is computed by using the straight-line method. Depreciation expense for the years ended June 30, 2000 and 1999 were $164,778 and $159,279 respectively. The estimated useful lives used in computing depreciation are as follows: Description Years Land improvements 10-20 Buildings and improvements 50 Furniture, fixtures and equipment 10 Transportation vehicles 5 D. Deferred Revenues — Deferred revenues represent camping and other fees received for programs to be held in the future. The fees received and not • earned for the year ended June 30, 2000 and 1999 were $312,532 and $306,155 respectively. E. Pledges Receivable — Pledges promised but not yet paid by the donor are included in pledges receivable, and classified as current or non-current based on the promised date of payment by the donor. These pledges are for contributions to a $1.7 million building expansion project at the Taylor Branch. F. Basis of Presentation — Financial statement presentation follows the recommendations of the Financial Accounting Standards Board in its Statement of Financial Accounting Standards (SFAS) No. 117, Financial Statements of Not-for-Profit Organizations. Under SFAS No. 117, the Organization is required to report information regarding its financial position and activities according to three classes of net assets: unrestricted net assets, temporarily restricted net assets, and permanently restricted net assets. -7- I THE YOUNG MEN'S CHRISTIAN ASSOCIATION OF THE GREATER ELGIN AREA Notes to Financial Statements (Cont.) June 30, 2000 and 1999 NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont.) G. Functional Allocation of Expenses — The costs of providing the various programs and other activities have been summarized on a functional basis in the statement of activities. Accordingly, certain costs have been allocated among the programs and supporting services benefited. H. Use of Estimates—The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. I. Revenue Recognition — Contributions received or pledged are recorded as unrestricted, temporarily restricted, or permanently restricted support, depending-on the existence and/or nature of any donor restrictions. All donor-restricted support is reported as an increase in temporarily or permanently restricted net assets, depending on the nature of the restriction. When a restriction expires (that is, when a stipulated time restriction ends or purpose restriction is accomplished), temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities as net assets released from restrictions. J. Income Taxes — The Agency is exempt from federal and state income taxes under Internal Revenue Code Section 501(c)(3) and similar Illinois law. K. Risk management - Significant loss exposure is covered by insurance. There have been no significant reductions in insurance coverage. Settlement amounts, if any, have not exceeded insurance coverage for the current year or the three prior years L. Inventory—Inventory is stated at the lower of cost or market. j -8- I THE YOUNG MEN'S CHRISTIAN ASSOCIATION OF THE GREATER ELGIN AREA Notes to Financial Statements (Cont.) June 30, 2000 and 1999 NOTE 2 —PROPERTY AND EQUIPMENT Major classes of property and equipment are as follows: 6-30-00 6-30-99 Land $ 352,504 352,504 Land improvements 264,583 200,178 • Buildings and improvements 6,154,492 6,122,251 Furniture, fixtures and equipment 1,113,890 1,083,305 Transportation vehicles 104,451 100.879 Total 7,989,920 7,859,117 Less: Accumulated depreciation 3,277,738 3,112,959 Net property and equipment $ 4,712,182 4,346,153 Note 3 —INVESTMENTS Investments are stated as follows: Debt securities (Bonds) are stated as amortized cost when it is anticipated that they will be held to maturity. All of the debt securities held by YMCA are anticipated to be held to maturity. Equity securities (Stocks) are stated at the aggregate of the lower of cost or 1 market value. At June 30, 2000 the investments in the Endowment Fund were valued as follows: Debt securities, at amortized cost (Value at maturity $251,930) $ 252,565 Equity securities, at lower of cost Or market (Market value$51,226) 51.226 Total of all endowment funds $ 303,791 The breakdown between Elgin and Camp Edwards is as follows; Elgin Endowment Fund $ 283,935 Camp Edward Endowment Fund 19.856 $ 303,791 -9- • I THE YOUNG MEN'S CHRISTIAN ASSOCIATION OF THE GREATER ELGIN AREA • Notes to Financial Statements (Cont.) June 30, 2000 and 1999 NOTE 3 — INVESTMENTS (Cont.) For the year ended June 30, 2000 the Endowment fund did not have any unrealized - Iloss or gain on securities. NOTE 4 —PENSION PLAN - The YMCA provides retirement benefits to employees under an noncontributory, defined contribution, money purchase pension plan serving only participating YMCA's. An employee is eligible to participate in the plan after attaining age of 21 and completing one year of service (1,000 hours or more). Participant and YMCA contributions are limited to five percent and seven percent, respectively, of eligible compensation, as defined in the Summary of Plan Description. A portion of this payment (approx. 42%) is immediately vested to the employees credit. The remaining portion (approx. 58%)vests 100% after 5 years of service. For the years ended June 30, 2000 and 1999, the YMCA's contributions to the pension plan totaled $91,442 and $80,122, respectively. Interest is credited to the participants' accounts annually. The minimum guaranteed interest rate is five percent. The pension plan provides for normal retirement benefits after an eligible employee reaches the age of 60, or reaches age 55 with at least five years of service. The plan also provides for disability and early retirement benefits. The benefit options are described in the Summary Plan Description. NOTE 5—PRIOR PERIOD ADJUSTMENT The YMCA requires participants to make advance deposits for summer programs. The deposits were being recognized as revenue on the cash basis of accounting. For the year ended June 30, 1999 the YMCA began recording these deposits on the accrual method — recognizing revenue at the time the program is offered. The {� adjustment to convert from the cash basis to the accrual basis for these deposits was �I $12,325 and is reflected as a prior period adjustment for 6/30/99. r -10- I THE YOUNG MEN'S CHRISTIAN ASSOCIATION OF THE GREATER ELGIN AREA • Notes to Financial Statements (Cont.) June 30, 2000 and 1999 • NOTE 6— CASH AND CASH EQUIVALENTS, DEPOSITS For purposes of the statements of cash flows, the Association considers all highly liquid investments available for current use with an initial maturity of three months or less to be cash equivalants. Deposits of the YMCA at June 30, 2000 consist of the following: 1 Balance per Carrying Books 1 Checking Account $ 381,431 • 490,990 Money Market Funds 204,968 204,968 $ 3,640,972 3,633,276 All deposits are fully insured by FDIC or collateralized by securities held by the YMCA orin the Association's name. • I I I I I I -11- I MICHAEL C. WALSH & ASSOCIATES, P.C. CERTIFIED PUBLIC ACCOUNTANTS Michael C. Walsh, C.P.A. 1595 Weld Road Brenda L.Reynolds, C.P.A. Elgin,IL 60123 (847)695-2700 200 Hillcrest Avenue Yorkville,IL 60560 (630) 553-6566 Auditor's Report on Supplemental Schedules • Board of Directors The Young Men's Christian Association of the Greater Elgin Area Elgin, IL 60120 We have audited the statement of financial position of the Young Men's Christian Association of the Greater Elgin Area as of June 30, 2000 and 1999 and the related ir statements of activities and changes in net assets, functional expenses, and cash flows for the years then ended. Our audit was made in accordance with generally accepted auditing standards and accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. Our audit was made for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedule of statement of activities by program is presented for purposes of additional analysis for management. This schedule is a not required part of the basic financial statements. Such information has been subjected to the auditing procedures applied in the examination of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole. ,_.mac J.�-�e ,)11 _ r l Elgin, Illinois { September 22, 2000 1 -12- THE YOUNG MEN'S CHRISTIAN ASSOCIATION i OF THE GREATER ELGIN AREA Statement of activities by program - Unrestricted funds For the year ended June 30, 2000 I Physical & Outdoor Education Aquatics Youth Membership Revenue: Membership and programs $ 653,064 161,292 598,989 959,613 Public support 250 - 289,647 - Sales, service and rentals 65,411 - - - Investment revenue 3,853 - - - Net assets released from restrictions 173,473 - - - Total revenue 896,051 161,292 888,636 959,613 Expenses: Salaries and benefits 197,206 159,116 263,419 220,506 Occupancy and repair 20,884 5,221 32,196 28,713 General and administrative 125,751 14,298 151,984 106,714 rib.' Total expenses 343,841 178,635 447,599 355,933 FF Revenue over(under) expenses I before depreciation $ 552,210 (17,343) 441,037 603,680 t I (Pik The accompanying notes are an integral pad:of these financial statements. -13- Total Total Total Food Program Support Program & Services Services Administrative Maintenance Services Support - 2,372,958 - - 2,372,958 1 - 289,897 15,068 15,068 304,965 - 65,411 43,584 - 43,584 108,995 j - 3,853 - - - 3,853 - 173,473 - .. - 173,473 I - 2,905,592 58,652 - 58,652 2,964,244 122,544 962,791 - 262,818 839,966 1,802,757 87,014 15,356 411,731 427,087 514,101 108,976 507,723 66,361 - 66,361 574,084 a (Ilk 231,520 1,557,528 81,717 674,549 1,333,414 2,890,942 (231,520) 1,348,064 (23,065) (674,549) (1,274,762) 73,302 I I I I i S a S a 1 Irk le ,.l OF` t- ' ° City of Elgin Agenda Item No. row I IL A ~ O E t` ' L January 10, 2001 ,a` yam TO: Mayor and Members of the City Council I)CCIll ATIO NAI.I.I.I. lIll: ANC,t_Ull UitAC t,f'1't>It 1 UN1 flf,ti FROM: Joyce A. Parker, City Manager F<JRAI 1f1-1 Ns SUBJECT: Channing YMCA 2001 Purchase of Service Agreement PURPOSE The purpose of this memorandum is to provide the Mayor and members of the City Council with information to consider the 2001 Purchase of Service Agreement with the Channing YMCA. BACKGROUND The Channing YMCA offers recreational and learning opportunities r for Elgin' s youth. A continued cooperative relationship with the YMCA provides opportunities and activities to help young people enjoy their youth and grow into productive and responsible adults . The cooperative effort matches the goals outlined in the Guiding Principles of Youth Initiatives in the City' s Five-Year Financial Plan. As part of the Purchase of Service Agreement, the Channing YMCA is required to report on the use of City funds, and to perform a program evaluation semi-annually. Attached you will find a breakdown of how the City' s contribution of $30, 000 was utilized for various youth programs for the YMCA. One-half of the City' s contribution is used to support children in the summer day camp program; the remaining funds are used for after school, aquatic and sport programs. In addition, the City utilizes the Channing YMCA for various recreation programs such as adult floor hockey, preschool sport classes, dance classes, and gymnastic classes. COMMUNITY GROUPS/INTERESTED PERSONS CONTACTED None . FINANCIAL IMPACT el°649/11)L- Sufficient funds are budgeted and available in the 2001 Recreation Division budget, account number 010-5012-762 . 45-99 (miscellaneous services) , in the amount of $30, 000 for this contract agreement . e00*- Channing YMCA PSA January 10, 2001 Page 2 LEGAL IMPACT / None. ALTERNATIVES The City Council could approve the agreement as drafted, edit the agreement, or decline to provide support to the Channing YMCA. RECOMMENDATION It is recommended that the proposed 2001 Channing YMCA Purchase of Service Agreement be approved to provide $30, 000 of funding towards youth programs . Respectfully submitte , rm. 4J ce . Parker City Manager fek