Budget Message / Highlights - Metropolitan Water Reclamation ...

SECTION VII
OTHER FUNDS
Other funds included in the annual District Budget are: the Reserve Claim Fund, Bond and Interest Fund, Retirement Fund,
Corporate Working Cash Fund, Construction Working Cash Fund, and Stormwater Management Working Cash Fund.
The Reserve Claim Fund is used to accumulate resources for the payment of claims and judgments against the District, as
well as for emergency repair or replacement of District facilities. A narrative description of the purpose and operation of
this fund is contained in this section along with an appropriation schedule. A tax levy ordinance for this Fund is presented
in Section VIII of this Budget.
The Bond and Interest Fund is used to accumulate the proceeds from property taxes and investment income, which are set
aside to pay the principal and interest on the outstanding bond issues of the Metropolitan Water Reclamation District of
Greater Chicago. These funds are segregated and accounted for by each bond issue. A narrative description of this fund
and an appropriation schedule, detailing payment of principal and interest during 2009, are included in this section. A tax
levy ordinance for the principal and interest due in 2010 and 2011 from the Bond and Interest Fund is included in Section
VIII of this Budget. Statements of Outstanding Bonds and Estimated Statutory Debt Margin, with a graphic illustration of
past, current, and estimated future debt service, are included in the Budgetary and Financial Summaries section, pages 59
and 60.
The Retirement Fund is the pension plan for District employees, accounted for in a trust fund the Illinois Compiled Statutes
established as a legal entity separate and distinct from the District. This section contains an appropriation of taxes the
District received on behalf of the Retirement Fund. A tax levy ordinance for this Fund is presented in Section VIII of this
Budget.
The District utilizes Corporate and Construction Working Cash Funds, as authorized by Illinois Compiled Statutes, to make
temporary loans to the Corporate and Construction Funds, and Stormwater Management Working Cash Fund. Loans are
repaid to the Working Cash Funds from the tax levies of the Funds. The use of Working Cash Funds eliminates the need to
issue short-term financing. There will be no tax levies for the Corporate or the Construction Working Cash Funds in 2009.
Reserve Claim Fund:
Description of Purpose and Operation .......................................................... 419
Line Item Analysis ........................................................................................ 420
Bond and Interest Fund:
Description of Purpose and Operation .......................................................... 421
Appropriation for Payment of Outstanding Bonds, 2009 ..............................423
Retirement Fund:
Description of Purpose and Operation .......................................................... 424
Appropriation Ordinance .............................................................................. 426
OTHER FUNDS