2012 Budget - South Suburban Parks and Recreation
2012 Budget - South Suburban Parks and Recreation 2012 Budget - South Suburban Parks and Recreation
South Suburban Park and Recreation District EXPENDITURE CATEGORIES Debt Service Debt service expenditures represent the payment of principal and interest due on our leases, Revenue Bonds, and Family Sports Center Certificates of Participation. Hudson Gardens Management Fee Annual payment to Hudson Gardens for the management of the facility, per management agreement. 300
South Suburban Park and Recreation District Glossary 2000 1 Mill – The 1 mill levy earmarked for park and open space acquisition and trail development as approved by the District’s voters in 2000, which expired in 2010. 2010 1 Mill – The new mill levy earmarked for acquisition of parks, open space and natural areas, acquisition and development of trails, and development and maintenance of open space, parks, and trails (approved by voters in 2010, beginning in 2011 and continuing for ten years). 1 Mill – see 2000 1 Mill and 2010 1 Mill Accrual Basis of Accounting – Revenue is recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. ADA - Americans with Disabilities Act Adopted Budget – The budget adopted by the Board of Directors by December 15 th . The adopted budget becomes effective annually as of January 1 st and appropriations lapse at year end. Appeal - take a court case to a higher court for review. Appropriation – Money set aside for a specific purpose. Arapahoe County Open Space Grant – Grant funds approved by Arapahoe County Commissioners and the Open Space and Trails Advisory Group for the preservation of open space in Arapahoe County funded by a voter approved sales tax (1/4 of 1%) in Arapahoe County. Article X, Section 20 of the Constitution of the State of Colorado – See TABOR Assessed Valuation – The value set by the County Assessor on real and personal property in order to establish a basis for levying taxes. Assets – Economic resources owned by a government. Audit – A systematic collection of sufficient, competent evidential matter needed to attest to the fairness of management’s assertions in the financial statements. Balanced Budget - planned expenditures are equal to estimated net revenues and appropriated fund balances. Benefits – Benefits include social security, retirement, group health, dental insurance, life insurance, workers’ compensation, and disability insurance, as well as other district benefits. 301
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<strong>South</strong> <strong>Suburban</strong> Park <strong>and</strong> <strong>Recreation</strong> District<br />
EXPENDITURE CATEGORIES<br />
Debt Service<br />
Debt service expenditures represent the payment of principal <strong>and</strong> interest due on our<br />
leases, Revenue Bonds, <strong>and</strong> Family Sports Center Certificates of Participation.<br />
Hudson Gardens Management Fee<br />
Annual payment to Hudson Gardens for the management of the facility, per management<br />
agreement.<br />
300
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