2011 Audit Report - the Burr Ridge Park District

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Burr Ridge Park DistrictStatement of Net Assets - Modified Cash BasisApril 30, 2011GovernmentalActivitiesASSETSCurrent AssetsCash $ 2,687,647Total Current Assets 2,687,647Non-Current AssetsCapital AssetsCapital Assets Not Subject to Depreciation 6,973,986Other Capital Assets, Net of Depreciation 4,418,991Total Capital Assets 11,392,977Other AssetsUnamortized Loss on Refunding 4,600Total Other Assets 4,600Total Non Current Assets 11,397,577TOTAL ASSETS 14,085,224LIABILITIESCurrent LiabilitiesBonds Payable 435,000Total Current Liabilities 435,000Non-Current LiabilitiesBonds Payable 3,165,000Bond Premium, Net of Amortization 86,250Total Non-Current Liabilities 3,251,250TOTAL LIABILITIES 3,686,250NET ASSETSInvested in Capital Assets, Net of Related Debt 7,706,727Unrestricted 2,692,247TOTAL NET ASSETS $ 10,398,974See Accompanying Notes to the Financial Statements.- 9 -
Burr Ridge Park DistrictStatement of Activities - Modified Cash BasisFor the Year Ended April 30, 2011FUNCTIONS/PROGRAMSGovernmental ActivitiesGeneral Government 186,764Net (Expenses)Revenues andChanges inProgram RevenuesNet AssetsCharges for Operating Grants GovernmentalExpenses Services and Contributions Activities$ $ 0 $ 0 $ (186,764)Recreation 2,032,744 833,099 182,674 (1,016,971)Interest on Long Term Debt 151,460 0 0 (151,460)Total GovernmentalActivities $ 2,370,968 $ 833,099 $ 182,674 (1,355,195)GENERAL REVENUESTaxesProperty taxes levied for general purposes 1,544,418Interest Income 8,632Other Income 106,033TOTAL GENERAL REVENUES 1,659,083CHANGE IN NET ASSETS 303,888NET ASSETS,BEGINNING OF YEAR 10,095,086END OF YEAR $ 10,398,974See Accompanying Notes to the Financial Statements.- 10 -
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2011 Audit Report - the Burr Ridge Park District

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