2012 Budget Summary - Chicago Park District

Detailed Revenuedebt service falls within that restriction. In 2009 state legislation was changed to allow debtservice to increase by the lesser of CPI (Consumer Price Index) or 5%. The 2012 budget will fallwithin these restrictions.Taxes for property valued at $335KTaxing AgencyAllocation ofTax BillBoard of Education $ 2,198.28City of Chicago School Bldg & Improv Fund $ 98.70City of Chicago $ 778.68Chicago Library Fund $ 86.94Chicago Park District $ 271.74Metropilitan Water Reclamation District $ 233.52City Colleges $ 128.52Cook County $ 360.36Forest Preserve District $ 43.26Total $ 4,200.00Personal Property Replacement Tax (PPRT)PPRT is a tax on the net income of corporationsthat is collected at the state level and distributedto municipalities and districts statewideaccording to a formula based on the distributionof personal property tax collection. The District’srevenue estimate for PPRT is based on aprojection provided by the Illinois Department ofRevenue and the amount expected to becollected by the end of the current fiscal year. Itis distributed among the Corporate Fund, theAquarium and Museum Fund, the Debt Service20.0%10.0%Fund, and the Pension Fund. PPRT year-end revenue is estimated to be 7% above the 2011budgeted estimate. However despite this moderate increase the State of Illinois does notproject this trend to continue. Therefore, the District is taking a conservative approach and onlyexpects a 1% increase in 2012.0.0%-10.0%-20.0%Budgeted % Change since 2008200815.6%2009-2.8%2010-15.0%2011-5.0%1.0%201244