Budget Message / Highlights - Metropolitan Water Reclamation ...

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METROPOLITAN WATER RECLAMATION DISTRICT OF GREATER CHICAGO 2009 BUDGET Water Environment Federation 1992 Recognition for the Solids Dewatering Prototype at the Stickney Plant 1999-1989 Award for Outstanding Achievement in Water Quality Improvement The Waterfront Center 2008 Excellence on the Waterfront Award for Sidestream Elevated Pool Aeration Project 445 445
METROPOLITAN WATER RECLAMATION DISTRICT OF GREATER CHICAGO 2009 BUDGET FINANCIAL GLOSSARY Abatement: A complete or partial cancellation of a tax levy imposed by a government. Accrual Basis of Accounting: The basis of accounting under which transactions are recognized when they occur, regardless of the timing of cash receipts and disbursements. Accrued: The accumulation of a receivable or payable during a given period even though no explicit transaction occurs within that period. Activities: The major programs and projects performed by an organizational unit. Ad Valorem Tax: A tax levied in proportion to the value of the property against which it is levied (also known as property tax). Appropriation: An amount of money in the budget, authorized by the Board of Commissioners, for expenditure or obligation within organizational units for specific purposes. The Corporate Fund appropriates money for operating and general purposes. The Capital Improvements Bond Fund appropriates money for major improvements, plant expansion, sewers, etc. Assessed Valuation: The value of all taxable property within the boundaries of the MWRDGC as a basis for levying taxes (i.e., the property's value). See tax base. Assets: Resources owned or held by the MWRDGC which have monetary value. Balance Sheet: A statement showing the financial position at a given time, disclosing assets, liabilities and fund balances. Bond: A written promise to pay a specified sum of money (called the principal) at a specified date in the future, together with periodic interest at a specified rate. In the budget document, these payments are identified as debt service. Bond Redemption and Interest Fund (Debt Service Fund): Established to account for annual property tax levies and certain other revenues, primarily interest on investments, which are used for the payment of principal and interest of general obligation bond issues. Budget: A balanced financial plan for a given period of time, which includes appropriations and tax levy ordinances for the various sources of revenue which finance the various funds. The budget is not only a financial plan; it also serves as a policy guide, as an operations guide and as a communications medium. Capital Equipment: Fixed assets such as vehicles, marine equipment, computers, furniture, technical instruments etc., which have a life expectancy of more than one year and a value over $5,000. Capital Projects Fund: Established to account for all resources, principally bond proceeds and construction grants, which are used for the acquisition or construction of capital facilities. Included in Capital Projects Funds are the Capital Improvements Bond Fund and the Construction Fund. Capital Improvements Bond Fund: Established to account for the proceeds of bonds authorized by the Illinois General Assembly, government grants and certain other revenues, all to be used in connection with improvements, replacements and additions to the MWRDGC facilities. Capital Improvements Program: A long-range plan of the District for the construction, rehabilitation and modernization of District-owned and operated infrastructure. It includes plans to protect Lake Michigan from pollution, to clean up approximately 200 miles of rivers and streams, and to reduce the level of flooding within the District's jurisdiction. Capital Outlay: Expenditures which result in the acquisition of, or addition to, fixed assets including land, buildings, improvements, machinery and equipment. Most equipment or machinery is included in the annual operating budget. Capital improvements such as acquisition of land, construction and engineering expenses are included in the Capital Budget. Capitalized: Capital outlays recorded as additions to the asset account, not expenses. Carryover (Net Assets Appropriable): That resource balance left after subtracting Current Liabilities and Designated Fund Balances from Current Assets. Cash Basis of Accounting: Revenues are not recorded until cash is received, and expenditures are recorded only when cash is disbursed. Cash Management: A conscious effort to manage cash flows in such a way that interest and penalties paid are minimized and interest earned is maximized. Funds received are deposited on the day of receipt and invested as soon as the funds are available. The District maximizes the return on all funds available for investment without sacrifice of safety or necessary liquidity. Classification of Budgetary Code Accounts: A manual published yearly which specifies the official code designations set forth in the annual budget for the purposes of accounting and expenditure control. Budgetary code listings for funds, organizations, locations, programs and line items are included. Commitment Items: Expenditure classifications established to account for and budget the appropriations approved. Also referred to as Line Item. 446 446
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2009 Budget Metropolitan Water Recl
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Metropolitan Water Reclamation Dist
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METROPOLITAN WATER RECLAMATION DIST
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SECTION I BUDGET FOREWORD BUDGET FO
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Mr. Richard Lanyon October 21, 2008
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Five-Year Financial Forecast, 2009-
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Five-Year Financial Forecast, 2009-
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SECTION III FINANCIAL STATEMENTS BY
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SECTION IV DETAIL OF DEPARTMENT APP
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Page 425 and 426: METROPOLITAN WATER RECLAMATION DIST
Page 447 and 448: SECTION VII OTHER FUNDS Other funds
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Page 475: METROPOLITAN WATER RECLAMATION DIST
Page 487: Tunnel Access Pump Station Grit Fac
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Budget Message / Highlights - Metropolitan Water Reclamation ...

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