2012 Budget Summary - Chicago Park District

GlossaryOperating BudgetA plan for current revenues, expenditures, and means of financing.Operating ExpensesThe cost for personnel, materials and equipment required for a department function.Operating expenses do not include capital expenses.Operating RevenuesFunds derived from daily operation of park district activities such as rentals, permit fees, anduser fees.Pension FundA fiduciary fund for which the park district acts as the trustee for employee retirement benefits.Performance MeasuresEstablished standards for the assessment of the park district’s operations towards meeting itsorganizational goals and objectives through daily and long-term activities.PermitAn issued authorization for access to or exclusive use of a specified park district facility orproperty holding for a given period of time.Personal Property Replacement Tax (PPRT)A tax on the income of corporations and the invested capital of utility companies. Administeredby the state and distributed to local governments, including the Park District.Personnel ServicesThe account class that includes payroll, health benefits, overtime, etc.Play CampA summer camp offered by the Park District for children 3-6 years.PlaygroundSmall parks, 2-4 acres in size, with young children (under 15 years) as their primary recreationalfocus.PlaylotParks that are less than 2 acres in size, with young children (under 12 years) as their primaryrecreational focus.PrincipalThe face value of an initial monetary investment at the time of issuance.138