2012 Budget Summary - Chicago Park District

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RevenuePerformance DataGoal:Maximizerevenuepotential ofManagementContractsMeasureCharter One Pavilion# of eventsSoldierField2012Projection2011As of 6/30/112009-2010% Change2010 200916 TBD 27% 19 15# of events 180 TBD 4% 170 163# of tours 375 TBD 21% 371 306# of garage 275 TBD -15% 265 312Goal:Increaserevenuegenerated viapermitsSpecialEventPermitsSpecialEventVenuesMeasure# of permitsissuedRevenuegenerated# of permitsissuedRentalrevenuegeneratedCommissionrevenuegenerated2012Projection2011 DWAs of 06/30/112009-2010% Change2010 (DW) 2009 (DW)2,500 1,470 15% 2,305 1,996$4,000,000 $2,515,565 7% $3,877,442 $3,626,275500 481 289% 447 115$450,000 $348,502 342% $425,838 $96,423$250,000 $28,187 NA $213,285 NAGoal:Increaserevenuegenerated byprivatized vendorsMeasure2012Projection2011As of 6/30/102009-2010% Change2010 2009MLK TBD $826,760 19% $1,340,908 $1,131,199Charter One Pavilion $900,000 TBD 11% $980,131 $882,461Harbors TBD $19,430,072 0% $21,238,480 $21,185,660Soldier Field TBD $7,612,420 15% $23,944,161 $22,607,156Concessions TBD $556,285 10% $2,205,959 $2,000,755Golf Revenue TBD $1,932,508 8% $4,895,726 $4,543,032130
TreasuryThe Treasury Department is responsible for managing the District's cash, investment and debtportfolios. The department monitors and adjusts the District's cash and investment position to meetdaily liquidity needs while maximizing investment returns. An Investment Policy developed by thedepartment and adopted by the Board guides the types and duration of investment tools utilized tomanage the cash position of the District. Responsibilities for managing the debt portfolio includemaintaining record of and ensuring proper payment of all outstanding debt. Treasury also evaluatesbond transaction proposals and refunding structures in order to determine the most cost effectivemethod of financing a portion of the District's capital needs as well as managing its long- term debtobligations.Department ExpendituresAccount 2010 Actual 2011 Budget 2012 BudgetPersonnel Services $ 373,816 $ 452,818 $ 457,488Materials & Supplies $ 11,184 $ 12,290 $ 11,755Small Tools & Equipment $ 2,156 $ 4,000 $ 2,500Contractual Services $ 1,081,168 $ 1,152,000 $ 1,426,200Total $ 1,468,324 $ 1,621,108 $ 1,897,943Personnel FTE 5 5.5 5$2,000,000$1,750,000$1,500,000$1,250,000$1,000,000$750,0002010 2011 20122011 AccomplishmentsTreasury anticipates prior to year-end to issue an amount not to exceed $150 million in GeneralObligation Unlimited Tax Bonds (Harbor Facilities Revenues Alternate Revenue Source) for theconstruction of a new harbor and marina to be known as ‘31st Street Harbor’ and to reconfigure andupgrade the existing harbors. The District went through an extensive public process and soughtvarious approvals for the new harbor. Multiple steps have been taken to prepare for the bondissuance including obtaining a financial feasibility report of the District’s current harbor system andthe anticipated impact of the proposed harbor improvements, as well as presentations to inform theDistrict’s Board, the various rating agencies and potential investors about the transaction.Continued to implement best practices during a volatile market by diversifying and selecting prudentinvestments to preserve and maintain the safety and principal of the District’s investment portfolio.In addition, Treasury prepared and issued a Request for Qualifications for Fund Managers tooptimize and maximize the District’s investment portfolio and expanded its’ list of approvedmunicipal depositories to provide additional investment options for the District.By strategically managing its’ cash flow, the District avoided, for the fifth straight year in a row,having to issue any short-term debt instruments thus saving approximately $2 million in annualinterest payments.2012 GoalsContinue to evaluate financing and restructuring proposals to maximize capacity and savings in itsdebt portfolio due to limitations of the District’s Debt Service Extension Base (DSEB).Create a Debt Service Management Policy.Explore current technology solutions to improve and strengthen treasury management protocols.131
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Letter From the General Superintend
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2012 Chicago Park District Budget S
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2012 BUDGET SUMMARYSECTION I - 2011
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Millions2012 Chicago Park District
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MillionsProgram Revenue2012 Chicago
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DemographicsChicago Park District H
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DemographicsCity of Chicago Populat
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DemographicsBall Diamonds per 10,00
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Offerings SummaryProgramming Distri
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Core ValuesCore ValuesThe Chicago P
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Core ValuesUtilitiesNearly 20% of e
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2012 BUDGET SUMMARYSECTION III - 20
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Fund StructureCapital Project Funds
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Basis of BudgetingBasis of Budgetin
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Financial PoliciesThe District is a
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Financial PoliciesJuly 2011Budget m
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Financial PoliciesFinancial Summary
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Fund BalanceGeneral Fund BalanceAmo
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Detailed Revenue2012 Operating Budg
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Detailed RevenuePPRT Budgeted vs Ac
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MillionsDetailed RevenueHarbor Fees
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Detailed RevenueRecreational and Cu
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Detailed Expenses2012 Operating Bud
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Detailed ExpensesMuseums In the Par
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Capital Improvementsobjectives, est
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Capital ImprovementsCapital Improve
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Capital ImprovementsOUTSIDE FUNDING
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Capital ImprovementsLand Acquisitio
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20122013201420152016201720182019202
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Personnel SummaryFull Time Equivale
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Community Recreation - Administrati
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Central RegionDedicated to Chicago'
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Central RegionGoal:Increase # ofact
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North Region2012 GoalsContinue to e
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South RegionThe South Region is res
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South RegionGoal:Development andimp
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Page 82 and 83: Community Recreation - Administrati
Page 84 and 85: Community Recreation - Sports IGYMN
Page 86 and 87: Community Recreation - Sports II201
Page 88 and 89: Community Recreation - Sports IIWEL
Page 90 and 91: Culture, Arts & Nature (CAN)Conduct
Page 92 and 93: OperationsThe departments within Op
Page 94 and 95: Facilities ManagementDEPARTMENT BUD
Page 96 and 97: Green InitiativesThe Office of Gree
Page 98 and 99: Natural ResourcesThe Department of
Page 100 and 101: Natural ResourcesGoal:Increase andp
Page 102 and 103: Park Services - Permit EnforcementT
Page 104 and 105: Office of the SecretaryDepartment E
Page 106 and 107: Board of Commissioners - AuditThe D
Page 108 and 109: LawThe Law Department represents th
Page 110 and 111: LawGoal:Provide thehighest qualityl
Page 112 and 113: CommunicationsThe Chicago Park Dist
Page 114 and 115: Disability Policy OfficePerformance
Page 116 and 117: General Administrative ServicesRedu
Page 118 and 119: Information TechnologyThe Informati
Page 120 and 121: Information TechnologyMeasure2012Pr
Page 122 and 123: FinanceOffices within Finance are r
Page 124 and 125: Budget and ManagementGoal:Seek alte
Page 126 and 127: ComptrollerGASB No. 54, Fund Balanc
Page 128 and 129: Financial ServicesThe Shared Financ
Page 132 and 133: 2012 BUDGET SUMMARYGLOSSARYCHICAGO
Page 134 and 135: GlossaryBudgetA financial plan for
Page 136 and 137: GlossaryExpensesCharged incurred (w
Page 138 and 139: GlossaryOperating BudgetA plan for
Page 140 and 141: GlossaryReplacement Cost Methodolog
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2012 Budget Summary - Chicago Park District

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