2012 Budget Summary - Chicago Park District

MillionsMillionsFund BalanceFund BalanceThe General Fund is the primary operating fund of the District. At the end of 2010, the generalfund balance was $47.6 million, a net increase of $7.6 million. As the chart below illustrates,fund balance in the General Fund has fluctuated over the last five years and rebounded after adecline of $7 million in 2008. For 2012, the District has budgeted taking $12 million from thegeneral fund balance to balance the 2012 budget.$50.0$45.0$40.0$35.0$30.0$25.0$20.0$15.0$10.0$5.0$0.0$47.6$40.0$28.0$25.0$18.0$10.02005 2006 2007 2008 2009 2010The Long-Term Income Reserve FundThe long-term reserve fund is a special revenue fund created in 2006 with total proceeds fromthe sale of the District’s parking garages. Interest earned on these proceeds is budgeted toreplace the net operating income the District had been receiving from the garages. The interestfrom this fund pays for one-time capital improvement projects for the central administrativebuilding located at 541 N. Fairbanks. It is the District’s policy to maintain the fund level at $85million. At the end of 2010, the fund balance was $95.8 million. Interfund transfers from thecorporate fund replenishes money drawn from this fund to maintain the $85 million minimum.$130.00$120.00Long Term Income Reserve Fund BalanceReserve Floor: $85M$122.30$110.00$100.00$97.30$95.70$95.80$90.00$80.00$85$70.002007 2008 2009 201040