2012 Budget Summary - Chicago Park District

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Fund StructureFund StructureOperating FundGeneral Fund Debt Service Fund Special Revenue Fund Capital FundCorporatePark Bond RedemptionOperating GrantsCapital ProjectManagement FundLiability, Worker’s Comp.,UnemploymentPublic Building CommissionLease**PensionLong Term Income ReserveSpecial Recreation TaxPublic Building CommissionOperations andMaintenanceNortherly Island FundAquarium & MuseumOperating FundThe 2012 budget reflects the requirements of Governmental Accounting Standards Board(GASB) Statement No.54, Fund Balance Reporting and Governmental Fund Type Definition. Thefund structure above represents the reclassification of funds based upon definitions provided inthe statement. Classification of funds is based upon the following definitions:General Funds: General Funds are used to account for and report all financial resources notaccounted for and reported in other funds.Debt Service Funds: Debt Service Funds are used to account for the accumulation of resourcesfor, and the payment of, general long-term debt principal and interest.Special Revenue Funds: Special Revenue Funds are used to account for specific revenues thatare legally restricted to expenditures for particular purposes other than debt service or capitalprojects.30
Fund StructureCapital Project Funds: Capital Project Funds are used to account for the acquisition,construction and improvement of major capital facilities and other miscellaneous capitalproject revenues from various sources as designated by the Board of Commissioners.The 2012 Operating Budget 11 funds:General Corporate Purposes Fund - This is the District’s primary operating fund. It accounts forall financial resources of the District, except those required to be accounted for in another fund.The services, which are administered by the District and accounted for in the General Fund,include recreation, parking, harbor, Soldier Field, and golf, among others.Liability Insurance, Workers’ Compensation and Unemployment Claims - This fund is used forthe purpose of paying expenses for liability insurance, workers’ compensation andunemployment claims.Long-Term Income Reserve Fund - This fund accounts for a long-term reserve for the purposeof future appropriations. These revenues were created as a result of the sale of several publicparking structures (garages) to the City of Chicago in 2006.Northerly Island Special Purpose Fund - This fund is for the purpose of operating, building,improving and protecting the Northerly Island property.Bond Redemption and Interest Funds - This fund accounts for the resources accumulated andpayments made for principal and interest on general long-term debt principal and interest.**Public Building Commission – Lease – This fund is for the purpose of paying the annual rentaldue per terms of leases between the District and the Public Building Commission of Chicago(PBC) to pay for the facilities that will be operated by the District. This fund was established tomake payments to the PBC for the reconstruction of Soldier Field.Additionally, this fund is no longer required because the district has levied for the last payment.The 2012 budget will be the last year for this fund.Operating Grants - This fund is for the purpose of accounting for the programs with revenuesprovided by the federal government, state government, and City of Chicago as well as certainlocal donors.Retirement Board of the Park Employees’ and Retirement Board Employees’ Annuity andBenefit Fund - This fund accounts for the activities of Park Employees’ and Retirement BoardEmployee’s Annuity and Benefit Fund of Chicago (Retirement Fund), which accumulatesresources for pension benefit payments to qualified District employees.31
Page 3 and 4: Letter From the General Superintend
Page 5 and 6: 2012 Chicago Park District Budget S
Page 7 and 8: 2012 BUDGET SUMMARYSECTION I - 2011
Page 9 and 10: Millions2012 Chicago Park District
Page 13 and 14: MillionsProgram Revenue2012 Chicago
Page 17 and 18: DemographicsChicago Park District H
Page 19 and 20: DemographicsCity of Chicago Populat
Page 21 and 22: DemographicsBall Diamonds per 10,00
Page 23 and 24: Offerings SummaryProgramming Distri
Page 25 and 26: Core ValuesCore ValuesThe Chicago P
Page 27 and 28: Core ValuesUtilitiesNearly 20% of e
Page 29: 2012 BUDGET SUMMARYSECTION III - 20
Page 33 and 34: Basis of BudgetingBasis of Budgetin
Page 35 and 36: Financial PoliciesThe District is a
Page 37 and 38: Financial PoliciesJuly 2011Budget m
Page 39 and 40: Financial PoliciesFinancial Summary
Page 41 and 42: Fund BalanceGeneral Fund BalanceAmo
Page 43 and 44: Detailed Revenue2012 Operating Budg
Page 45 and 46: Detailed RevenuePPRT Budgeted vs Ac
Page 47 and 48: MillionsDetailed RevenueHarbor Fees
Page 49 and 50: Detailed RevenueRecreational and Cu
Page 51 and 52: Detailed Expenses2012 Operating Bud
Page 53 and 54: Detailed ExpensesMuseums In the Par
Page 56 and 57: Capital Improvementsobjectives, est
Page 58 and 59: Capital ImprovementsCapital Improve
Page 60 and 61: Capital ImprovementsOUTSIDE FUNDING
Page 62 and 63: Capital ImprovementsLand Acquisitio
Page 64 and 65: 20122013201420152016201720182019202
Page 66 and 67: Personnel SummaryFull Time Equivale
Page 68 and 69: Community Recreation - Administrati
Page 70 and 71: Central RegionDedicated to Chicago'
Page 72 and 73: Central RegionGoal:Increase # ofact
Page 74 and 75: North Region2012 GoalsContinue to e
Page 76 and 77: South RegionThe South Region is res
Page 78 and 79: South RegionGoal:Development andimp
Page 80 and 81:
Community Recreationambassadors, sa
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Community Recreation - Administrati
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Community Recreation - Sports IGYMN
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Community Recreation - Sports II201
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Community Recreation - Sports IIWEL
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Culture, Arts & Nature (CAN)Conduct
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OperationsThe departments within Op
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Facilities ManagementDEPARTMENT BUD
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Green InitiativesThe Office of Gree
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Natural ResourcesThe Department of
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Natural ResourcesGoal:Increase andp
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Park Services - Permit EnforcementT
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Office of the SecretaryDepartment E
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Board of Commissioners - AuditThe D
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LawThe Law Department represents th
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LawGoal:Provide thehighest qualityl
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CommunicationsThe Chicago Park Dist
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Disability Policy OfficePerformance
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General Administrative ServicesRedu
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Information TechnologyThe Informati
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Information TechnologyMeasure2012Pr
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FinanceOffices within Finance are r
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Budget and ManagementGoal:Seek alte
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ComptrollerGASB No. 54, Fund Balanc
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Financial ServicesThe Shared Financ
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RevenuePerformance DataGoal:Maximiz
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2012 BUDGET SUMMARYGLOSSARYCHICAGO
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GlossaryBudgetA financial plan for
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GlossaryExpensesCharged incurred (w
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GlossaryOperating BudgetA plan for
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GlossaryReplacement Cost Methodolog
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2012 Budget Summary - Chicago Park District

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