franklin park, illinois comprehensive annual financial report

Franklin Park, Illinois

Comprehensive Annual Financial ReportFOR THE FISCAL YEAR ENDED APRIL 30, 2012

Franklin Park, IL

Prepared by

Christi JacobsonSuperintendent of Finance and Technology

Compiled Under the Direction of

Joseph D. ModrichDirector of Parks and Recreation

Board of CommissionersMark K. Cwik

Susan E. O’ConnellMichael A. Vonesh

Mark K. WhiteJoseph E. Zinga

Comprehensive Annual Financial Report FOR THE FISCAL YEAR ENDED APRIL 30,2012

PARK DISTRICT OF FRANKLIN PARK

FRANKLIN PARK, ILLINOIS

TABLE OF CONTENTS

Page(s)

INTRODUCTORY SECTION

Officers and Officials .................................................................................................. i

Organization Chart ...................................................................................................... ii

Certificate of Achievement ......................................................................................... iii

Letter of Transmittal ................................................................................................... iv-vi

FINANCIAL SECTION

INDEPENDENT AUDITOR’S REPORT .................................................................. 1-2

GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS

Management’s Discussion and Analysis ................................................................ MD&A 1-6

Basic Financial Statements

Government-Wide Financial Statements

Statement of Net Assets ................................................................................ 3

Statement of Activities ................................................................................. 4-5

Fund Financial Statements

Governmental Funds

Balance Sheet ........................................................................................... 6-7

Reconciliation of Fund Balances of Governmental Funds to

the Governmental Activities in the Statement of Net Assets................. 8

Statement of Revenues, Expenditures and Changes in Fund Balances ... 9-10

Reconciliation of the Governmental Funds Statement of Revenues,

Expenditures and Changes in Fund Balances to the Governmental

Activities in the Statement of Activities ................................................ 11



TABLE OF CONTENTS (Continued)

Page(s)

FINANCIAL SECTION (Continued)

GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS (Continued) Basic Financial Statements (Continued) Fund Financial Statements (Continued) Proprietary Fund Statement of Net Assets ........................................................................... 12 Statement of Revenues, Expenses and Changes in Net Assets ................ 13 Statement of Cash Flows ......................................................................... 14 Notes to Financial Statements ........................................................................... 15-32 Required Supplementary Information Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual General (Corporate) Fund ............................................................................. 33 Recreation Fund ............................................................................................ 34 Illinois Municipal Retirement Fund Schedule of Employer Contributions ........................................................... 35 Schedule of Funding Progress ...................................................................... 36 Notes to Required Supplementary Information ................................................. 37-38 COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES MAJOR GOVERNMENTAL FUNDS GENERAL FUND Combining Balance Sheet - General (Corporate) Fund by Subfund ............ 39 Combining Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - General (Corporate) Fund by Subfund .... 40-43 Schedule of Detailed Expenditures - Budget and Actual - General (Corporate) Fund General (Corporate) Subfund .................................................................. 44-45 North Park Subfund ................................................................................. 46-47 Corporate Parks Subfund ......................................................................... 48-49 Public Liability Insurance Subfund ......................................................... 50




Page(s)


COMBINING AND INDIVIDUAL FUND

FINANCIAL STATEMENTS AND SCHEDULES (Continued)

MAJOR GOVERNMENTAL FUNDS (Continued)

RECREATION FUND

Schedule of Revenues, Expenditures and

Changes in Fund Balance - Budget and Actual .......................................... 51-52

Schedule of Detailed Expenditures - Budget and Actual ............................. 53-57

GENERAL DEBT SERVICE FUND


Changes in Fund Balance - Budget and Actual .......................................... 58

2011 CAPITAL PROJECTS FUND


Changes in Fund Balance - Budget and Actual .......................................... 59

NONMAJOR GOVERNMENTAL FUNDS

Combining Balance Sheet ................................................................................. 60

Combining Statement of Revenues, Expenditures

and Changes in Fund Balances ....................................................................... 61


Changes in Fund Balance - Budget and Actual

Municipal Retirement Fund .......................................................................... 62

Social Security Fund ..................................................................................... 63

Audit Fund .................................................................................................... 64

Special Recreation Fund ............................................................................... 65

2010 Capital Projects Fund .......................................................................... 66

ENTERPRISE FUND

Ice Arena Fund

Schedule of Revenues, Expenses and

Changes in Net Assets - Budget and Actual ............................................... 67-68

Schedule of Detailed Expenses - Budget and Actual ................................... 69-72




Page(s)


SUPPLEMENTAL SCHEDULES

Schedule of General Capital Assets ....................................................................... 73

Schedule of General Obligation Bonds and Interest Payable Series 2011 ............. 74

STATISTICAL SECTION

Financial Trends

Net Assets by Component ...................................................................................... 75

Change in Net Assets ............................................................................................. 76-79

Fund Balances of Governmental Funds ................................................................. 80

Changes in Fund Balances of Governmental Funds .............................................. 81-82

Revenue Capacity

Assessed Value and Estimated Actual Value of Taxable Property ........................ 83

Property Tax Rates - Direct and Overlapping Governments ................................. 84

Principal Property Taxpayers ................................................................................. 85

Property Tax Levies and Collections ..................................................................... 86

Debt Capacity

Ratios of Outstanding Debt by Type ...................................................................... 87

Ratios of General Bonded Debt Outstanding ......................................................... 88

Direct and Overlapping Governmental Activities Debt ......................................... 89

Legal Debt Margin Information ............................................................................. 90

Demographic and Economic Information

Demographic and Economic Information .............................................................. 91

Principal Employers ............................................................................................... 92

Operating Information

Employees by Function .......................................................................................... 93-94

Operating Indicators ............................................................................................... 95

Capital Asset Statistics ........................................................................................... 96

INTRODUCTORY SECTION

i


OFFICERS AND OFFICIALS

April 30, 2012

Board of Commissioners

President Mark J. Cwik

Vice President Michael A. Vonesch

Treasurer Joseph E. Zinga

Secretary Mark K. White

Commissioner Susan E. O’Connell

Park District Staff

Director of Parks and Recreation Joseph D. Modrich

Human Resource Manager Maria Laskowski

Superintendent of Finance and Technology Christi Jacobson

Superintendent of Recreation Jackie Witt

Parks Operation Manager Nathan Wick

Ice Arena Manager Sara Bolan

Park District

of Franklin Park

2012 Organizational Chart

Residents

Board of

Commissioners

Attorney Auditor Consultants

Marketing Human Resources Director of Grants

Manager Manager Parks & Recreation Financial

Board Committees Advisory Groups

Safety Superintendent of Superintendent of Superintendent Ice Arena North Park Partnership

Committee Recreation Finance/Technology of Parks & Planning Manager Manager Advisory Group

Finance/Legislation/Policy Manager Finance Parks Services Assistant Facility Teens

Committee Programs / Events Coordinator Staff Full-time Manager Secretary Advisory Group

Marketing Manager Payroll/Corporate Parks Parks Services Manager Service Staff Sports Affiliates

Committee Programs/ Facility Assistant Annual PT Staff Program / Marketing Advisory Group

Recreation Recreation Program Front Desk Parks Services Office Manager Banquet Staff Seniors/Trips/Excursions

Committee Staff Assistants Seasonal PT Staff Advisory Group

Facilities/Parks Recreation Aquatics Facility Supervisors Sports Arena

Committee Staff FT Staff

Employee HR Recreation Event Part Time Staff

Committee Staff

50th Anniversary

Committee

ii

9560 Franklin Avenue Franklin Park, Illinois 60131

Administrative Offices

847-455-2852 Fax: 847-455-9053

Ice Arena

847-671-4268

North Park 847-678-4021

Service Center

847-451-1507

Park District Board of Commissioners

Mark K. White

President

Susan E. O’Connell Vice President

Michael A. Vonesch

Treasurer

Mark J. Cwik Secretary

Joseph E. Zinga Commissioner

Joseph D. Modrich

Director of Parks and Recreation

October 10, 2012 Board of Park Commissioners and Citizens of the Park District of Park District 9560 Franklin Avenue Franklin Park, Illinois 60131 State law requires that all general-purpose local governments publish within six months of the close of each fiscal year a complete set of financial statements presented in conformity with generally accepted accounting principles (GAAP) and audited in accordance with generally accepted auditing standards by a firm of licensed certified public accountants. This Comprehensive Annual Financial Report (CAFR) of the Park District of Franklin Park (Park District) for the fiscal year ending April 30, 2012 is hereby submitted as mandated by state statutes. Sikich LLP, the licensed accounting firm, issued an unqualified (“clean”) opinion on the District’s financial statements for the fiscal year ending April 30, 2012. Management assumes full responsibility for the completeness and reliability of the information in this report. To provide a reasonable basis for making these representations, the management of the Park District established a comprehensive internal control framework designed to protect the government’s assets from loss, theft, or misuse. Because the cost of internal controls should not exceed anticipated benefits, the objective is to provide reasonable, rather than absolute, assurance that the financial statements are free of any material misstatements. Management’s discussion and analysis (MD&A) immediately follows the independent auditor’s report and provides a narrative introduction, overview and analysis of the basic financial statements. MD&A complements this letter of transmittal and should be read in conjunction with it.

Profile of the Government

Concerned citizens, led by the Franklin Park Women’s Club and local Kiwanis Club, incorporated the Park District of Franklin Park on July 17, 1964 after a grass roots effort. From its beginning to the present, the Park District acquired 24 acres of parks, built four recreation facilities, and acquired a maintenance Service Center. Serving approximately 14,034 residents residing north of Grand Avenue, the Park District offers more than 250 programs each year for all age groups. We participate in a special recreation cooperative, the West Suburban Special Recreation Association (WSSRA). Supported by eleven park districts and two villages, the association provides special leisure services for people with disabilities.

Twenty-seven citizen volunteers have served as Park Commissioners by election appointment. The Park District has 20 full-time employees, augmented seasonally by more than 175 part-time employees. Six Directors have served in the past 47 years.

iv

v

The Park District operates with a limited number of acres — well below national standards. There are seventeen parks and three lighted baseball fields. Special facilities include a year-round indoor ice arena featuring a 200 x 85 main arena and a smaller practice arena, and a newly renovated outdoor swimming pool including a full-size Olympic pool, a wading pool, two waterslides and drop slide, a diving board, basketball hoop and zero-depth spray-ground. The Park District offices are housed in a 30,000 square foot Community Center which includes a full gymnasium, locker and shower facilities, eight meeting rooms, a pre-school, dance studio, fitness center and administrative offices. A smaller Community Center at North Park was renovated and expanded in 1995, from 6,000 to 20,000 square feet and remodeled in 2009. This Community Center includes senior citizen accommodations and a banquet hall, dance/aerobics studio, and sports/activity arena. The Sunflower Nature Center, located in the northwest corner of North Park, was also added in the park renovation in 2001. A 10,000 square foot maintenance facility accommodates a fleet of eight trucks; three tractors, and a full range of property care equipment. The Park District participates in the Illinois Municipal Retirement Fund (IMRF), and is a member of the Park District Risk Management Agency (PDRMA). These organizations are separate entities from the District. The District does not exercise financial accountability over these agencies, and their financial statements are not included in this report. However, audited financial statements for these organizations are available upon request from their business offices.

Local Economy The Park District has a population of approximately 14,034 in 5,045 households in Franklin Park. Franklin Park is in Cook County, about 14 miles west of downtown Chicago and covering approximately 4.15 square miles. The tax base of the Park District is supported by 75% business and industry and 25% residential property. Approximately 36% of the households have children under the age of 18 and the median age is 34. The median family income is $56,255 and per capital income is $19,434. The community benefits greatly from the large business and industry presence in the area. Franklin Park is the fourth largest industrial area in Illinois. Major employers within the District boundaries include Hill Mechanical Group, Sloan Valve Company, Canadian Pacific Railway, Fresh Express, Nestle Chocolate & Confection, and Bretford Manufacturing Inc.

Long-term Financial Planning The Park District works closely with a financial advisor to monitor current and future debt payments within the framework of estimated funding constraints. For the bond issue in 2008, the Park District’s bond rating was upgraded to AA Stable with Standard and Poor’s. The Park District also utilizes a ten-year Capital Improvement Plan detailing long-range infrastructure and equipment improvement needs.

FINANCIAL SECTION

GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS

MD&A 1

Park District of Franklin Park

Franklin Park, Illinois

Management’s Discussion and Analysis

The Management Discussion and Analysis (MD&A) provides an introduction to the financial performance and

statements of the Park District of Franklin Park (Park District) for the fiscal year ending April 30, 2012. The

MD&A is designed to assist the reader on significant issues and provide an overview of the District’s financial

activity. This overview should be considered along with the financial information presented in the remainder

of the audit report.

Financial Highlights

The total assets of the District exceeded its liabilities at the close of the fiscal year by $19,935,004.

The District’s net assets increased by $1,058,075 or 6% during the fiscal year ending April 30, 2012.

The District’s combined Governmental Funds ending fund balance increased $1,051,736 as of April 30,

2012.

At the end of the fiscal year, the unassigned fund balance for the General Fund was $2,515,086.

Using the Annual Report Financial Section

The Park District presents two kinds of financial statements, each with a different view of the Park District.

The first presentation summarizes information by fund type on a current financial resource basis. The focus of

the second set of financial statements is on the Park District as a whole (government-wide) and on the major

individual funds. Both perspectives allow the users of the financial statements to address relevant questions.

Additionally, this reporting broadens the basis for comparison (i.e. comparing different years, governments,

etc.), and enhances the Park District’s accountability.

Government-Wide Financial Statements

The government-wide financial statements are designed to provide readers with a broad overview of the Park

District’s finances, in a manner similar to private-sector business. The government-wide financial statements

include the Statement of Net Assets and the Statement of Activities.

The Statement of Net Assets presents information on the assets and liabilities, with the difference between the

two reported as net assets. Over time, increases or decreases in net assets may serve as a useful indicator of

whether the financial position of the Park District is improving or deteriorating.

The Statement of Activities presents information showing how the Park District’s net assets changed during

the most recent fiscal year. It is focused on the gross and net cost of various programs and activities that are

supported by the Park District’s general taxes and other sources. This is intended to simplify and summarize

the cost of the Park District’s governmental activities.

The government-wide financial statements can be found on pages 3-5 of the audit report.

Fund Financial Statements

A fund is a grouping of related accounts that is used to maintain control over resources that have been

segregated for specific objectives. Like other local governments, the Park District uses fund accounting to

ensure and demonstrate compliance with finance-related legal requirements. All of the funds can be divided

into two categories: government funds and proprietary funds.

MD&A 2

Governmental Funds The Governmental Funds presentation shows the sources and uses of liquid resources. This is how the budget

is typically developed. Governmental funds provide a current resources (short-term) view that helps determine

whether there are more or fewer current financial resources available to spend for Park District operations.

Because the focus of governmental funds is narrower than that of the government-wide financial statements, it

is useful to compare the information presented for governmental funds with similar information presented for

governmental activities in the government-wide financial statements. By doing so, readers may better

understand the long-term impact of the Park District’s near-term financing decisions. Both the governmental

funds Balance Sheet and the governmental funds Statement of Revenues, Expenditures, and Changes in Fund

Balances provide a reconciliation to facilitate this comparison between governmental funds and governmental

activities.

The District maintains individual government funds to control resources for individual activities. Information

is presented separately in the governmental fund balance sheet and in the governmental fund statement of

revenues, expenditures and changes in fund balances for activities considered to be major funds. Major funds

are those whose revenues, expenditures, assets or liabilities are at least ten percent of the total for their fund

category and at least five percent of the aggregate amount for all governmental and enterprise funds. Data from

other governmental funds are combined into a singe aggregate presentation.

For the fiscal year ending April 30, 2012, the following funds were considered to be major funds:

• General • General Debt Service

• Recreation • 2011 Capital Projects

The following funds were considered to be non-major funds:

• Illinois Municipal Retirement • Public Audit

• Social Security • Special Recreation

• 2010 Capital Projects

The basic governmental fund financial statements can be found on pages 6-11 of the audit report.

Proprietary Fund

Proprietary funds account for services that are generally fully supported by user fees. Proprietary funds are

presented on a total economic resources basis. Proprietary fund statements, like government-wide statements,

provide short- and long-term financial information.

The Park District maintains one proprietary fund, the Ice Arena fund. Operating expenses for the Ice Arena

are funded with program and ice rental fees. The basic proprietary fund financial statements can be found on

pages 12-14 of the audit report.

Notes to the Financial Statements

The notes to the financial statements provide additional information that is essential to a full understanding of

the data provided in the government-wide and fund financial statements. The notes to the financial statements

can be found on pages 15-32 of the audit report.

Other Information

In addition to the basic financial statements and accompanying notes, this report also presents certain required

supplementary information concerning the Park District’s progress in funding its obligation to provide benefits

to its employees. Required supplementary information can be found on pages 33-38 of the audit report.

The combining and individual fund financial statements and schedules are presented on pages 39-74 of the

audit report.

MD&A 3

Government-Wide Financial Analysis

Over time, net assets serve as a useful indicator of a government’s financial position. The following schedule

indicates that the Park District’s assets as of April 30, 2012 exceeded liabilities by $19,935,004. This is an

increase of $1,058,075 from the prior year and $1,966,372 from 2010. The second chart illustrates the change

of ending net assets from 2006 to 2012.

Park District of Franklin Park Statement

Statement of Net Assets

Governmental Activities Business-Type Activities Total

2012 2011 2012 2011 2012 2011

Assets

Current Assets $7,630,994 $6,728,322 $1,379,816 $1,174,468 $9,010,810 $7,902,790

Capital Assets 12,527,484 12,608,435 1,189,634 1,206,293 13,717,118 13,814,728

Total Assets 20,158,478 19,336,757 2,569,450 2,380,761 22,727,928 21,717,518

Liabilities

Current Liabilities 2,630,171 2,736,133 105,584 52,957 2,735,755 2,789,090

Long-Term Liabilities 32,586 27,416 24,583 24,083 57,169 51,499

Total Liabilities 2,662,757 2,763,549 130,167 77,040 2,792,924 2,840,589

Net Assets

Invested in Capital

Assets,

net of related debt 12,622,181 12,134,638 1,189,634 1,206,293 13,811,815 13,340,931

Restricted 1,590,507 1,767,492 1,590,507 1,767,492

Unrestricted 3,283,033 2,671,078 1,249,649 1,097,428 4,532,682 3,768,506

Total Net Assets $17,495,721 $16,573,208 $2,439,283 $2,303,721 $19,935,004 $18,876,929


Fiscal-Year Ending Net Assets

$0

$5,000,000

$10,000,000

$15,000,000

$20,000,000

$25,000,000

2006 2007 2008 2009 2010 2011 2012

MD&A 4

The largest part of the District’s net assets (72% of total net assets) reflects its investment in capital assets

which includes all of the land, buildings, parks, and equipment. These capital assets are used to provide

services to its citizens.

The two largest components of Current Assets are Cash and Investments and Property Taxes Receivable. The

Cash and Investment total of $7,416,118 is primarily attributable to reserve investments in the General Fund,

the Ice Arena Fund, the Recreation Fund, and the 2010 and 2011 Capital Project Funds. Property Taxes

Receivable amounted to $1,534,764 which represents the amount of taxes that were levied during the year but

were not due before the end of the fiscal year. The entire receivable is offset by deferred revenue, which is

reported in current liabilities.

The Park District’s Restricted Net Assets are restricted for debt service, construction, insurance payments,

special recreation expenses, and employee benefits. The Park District’s Unrestricted Net Assets, the portion of

net assets that can be used to finance daily operations, were $4,532,682 at the end of the year. The following

chart details total fiscal-year ending net assets for the Park District. For more detailed information see the

Statement of Net Assets on page 3.

Statement of Activities: The following schedule presents a summary of revenues, expenses and change in net

assets for the year ended April 30, 2012:


Statement of Activities

For The Fiscal Year Ended April 30, 2012

Governmental Activities Business-Type Activities Total

2012 2011 2012 2011 2012 2011

Revenues

Program Revenues

Charges for Services $ 857,858 $ 800,032 $ 1,288,866 $ 1,247,384 $ 2,146,724 $ 2,047,416

Capital Grants and

Contributions 10,478 - 46,456 43,858 56,934 43,858

General Revenues - -

Property and

Replacement Taxes 2,953,371 2,838,542 2,953,371 2,838,542

Investment Income 2,291 5,784 938 2,522 3,229 8,306

Other Revenues 15,371 2,267 - - 15,371 2,267

Total Revenues 3,839,369 3,643,625 1,336,260 1,293,764 5,175,629 4,940,389

Expenses

General Government 1,219,883 1,117,160 1,219,883 1,117,160

Culture and Recreation 1,565,994 1,610,006 1,565,994 1,610,006

Business – Type Activities 1,294,454 1,267,982 1,294,454 1,267,982

Interest 37,223 36,944 37,223 36,944

Total Expenses 2,823,100 2,764,110 1,294,454 1,267,982 4,117,554 4,032,092

Change in Net Assets before

Prior Period Adjustment 1,016,269 882,515 41,806 25,782 1,058,075 908,297

Prior Period Adjustment (456,538) 456,538 -

Transfers (93,756) (88,379) 93,756 88,379 -

Changes in Net Assets 922,513 337,598 135,562 114,161 1,058,075 908,297

Ending Net Assets 17,495,721 16,573,208 2,439,283 2,303,721 19,935,004 18,876,929

MD&A 5

Governmental Activities

For the fiscal year ending April 30, 2012 governmental revenues totaled $3,839,369 which is 5% higher than

the prior fiscal year. The Park District’s largest source of revenue came from Property Taxes and Personal

Property Replacement Taxes, which accounted for $3.0 million or 79% of the Park District’s total revenue

from governmental activities. Property and Personal Replacement Taxes increased from the prior fiscal year by

4%. Charges for services in government revenue totaled $857,858 which is 7% higher than the prior fiscal year

due to increased recreation program and pool revenue. Compared to the prior fiscal year, there was a 39%

increase in pool pass sales, a 33% increase in adult fitness registration, and a 16% increase in day camp

enrollment.

Total expenses in governmental activities increased by 2%. Culture and recreation expenses, which represent

costs associated with providing recreational programs and services totaled $1,565,994 which is a 2%

decrease from the prior year. General government expenses increased by 9%.

The following chart shows the major sources of operating revenue for governmental activities for the year

ended April 30, 2012: spaghetti

2011-2012 Revenue by Source - General Government

Charges for Services

22.0%

Other

0.2%

Property and

Replacement Taxes

77.1%

Business-Type Activities

Charges for services of the District’s business-type activities increased by $41,482 from the prior year or 3%

and operating expenses increased by $26,427 or 2%. Key factors behind the results include the following:

An 11% increase in Youth Hockey League revenue totaling $28,968.

A 10% increase in Skate lesson revenue totaling $12,083.

Decreased daily admission and skate rental revenue by $4,434.

Decreased concession and vending revenue by $8,226.

General Fund Budgetary Highlights

As of April 30, 2012, the Governmental Funds had a combined fund balance of $5,909,444, an increase of

$1,051,736 from the prior year. The increase was primarily from the 2011 Capital Projects reserves that had

not yet been spent on park renovation projects. The General Fund balance increased 10% from $2,315,915 to

$2,550,386 primarily due to lower than budgeted capital and operating transfers for the year. The following

schedule shows the actual revenues and expenditures of the General Fund in comparison to the original/final

budget:

MD&A 6

General Fund Budgetary Highlights

For The Fiscal Year Ended April 30, 2012

Original/Final

Budget

Actual

Revenues $ 1,378,920 $ 1,416,733

Expenditures 1,302,203 1,1182,262

Net Changes in Fund Balance $ 76,717 $ 234,471

The General Fund Balance increased during the year by $234,471 which was $157,754 higher than the budget.

Compared to the budget, property tax revenue was higher by $119,617 and replacement tax revenue was

higher by $7,409. Charges for services were lower than budget by $101,897 due to fewer facility rentals.

General Government expenses were less than budget by $119,941 partially due to decreased salary and benefit

expenses in the Corporate Parks department and decreased expenses associated with facility rentals

Capital Assets

Increases to governmental capital assets totaled $314,165 and was offset by disposals totaling $16,038 and net

depreciation of $379,078. The total capital asset balance as of April 30, 2012 was $12,527,484 for

governmental activities and $1,189,634 for business-type activities. Major capital projects completed during

the year included the renovation of Ruby Addison Park and the purchase of a new Park Services truck.

For more detail information on Capital Assets, see Note 4 on pages 24-25 in the Notes to the Financial

Statements.

Long-Term Debt

As of April 30, 2012, the Park District had a total of $905,000 for principal on outstanding debt. Total long-

term debt also includes $36,207 related to Compensated Absences for governmental activities and $27,314 for

business-type activities. For more detail information on the Park District’s long-term debt, see Note 5 on page

25 in the Notes to the Financial Statements.

Requests for Information

This financial report provides our residents, investors, creditors and other interested parties with an overview

of the finances of the Park District of Franklin Park and demonstrates the Park District’s accountability for the

financial resources it receives. Please direct questions concerning any information contained in this report to

the Finance Department at 9560 Franklin Avenue, Franklin Park, Illinois 60131.

Governmental Business-Type

Activities Activities Total

ASSETS

Cash and investments 6,058,208$ 1,357,910$ 7,416,118$

Cash with paying agent 8,648 - 8,648

Receivables (net, where applicable, of

allowances for uncollectibles)

Property taxes 1,534,764 - 1,534,764

Accounts - 10,986 10,986

Other 13,235 - 13,235

Inventory 7,404 6,655 14,059

Prepaid expenses 8,735 4,265 13,000

Capital assets not being depreciated 5,158,251 242,794 5,401,045

Capital assets being depreciated

net of accumulated depreciation 7,369,233 946,840 8,316,073

Total assets 20,158,478 2,569,450 22,727,928

LIABILITIES

Accounts payable 72,779 28,669 101,448

Accrued interest payable 8,648 - 8,648

Accrued payroll 32,463 22,343 54,806

Deposits payable 33,471 - 33,471

Deferred property tax revenue 1,534,764 - 1,534,764

Deferred revenue 39,425 51,841 91,266

Noncurrent liabilities

Due within one year 908,621 2,731 911,352

Due in more than one year 32,586 24,583 57,169

Total liabilities 2,662,757 130,167 2,792,924

NET ASSETS

Invested in capital assets, net of related debt 12,622,181 1,189,634 13,811,815

Restricted for

Liability insurance 21,310 - 21,310

Debt service 657,405 - 657,405

Employee retirement 84,042 - 84,042

Special purposes 38,105 - 38,105

Special recreation 266,631 - 266,631

Construction and development 523,014 - 523,014

Unrestricted 3,283,033 1,249,649 4,532,682

TOTAL NET ASSETS 17,495,721$ 2,439,283$ 19,935,004$

Primary Government



STATEMENT OF NET ASSETS

April 30, 2012

See accompanying notes to financial statements.- 3 -

Operating Capital

Charges Grants and Grants and

FUNCTIONS/PROGRAMS Expenses for Services Contributions Contributions

PRIMARY GOVERNMENT

Governmental Activities

General government 1,219,883$ -$ 10,478$ -$

Culture and recreation 1,565,994 857,858 - -

Interest and fiscal charges 37,223 - - -

Total governmental activities 2,823,100 857,858 10,478 -

Business-Type Activities

Ice arena 1,294,454 1,288,866 - 46,456

Total business-type activities 1,294,454 1,288,866 - 46,456

TOTAL PRIMARY GOVERNMENT 4,117,554$ 2,146,724$ 10,478$ 46,456$

Program Revenues



STATEMENT OF ACTIVITIES

For the Year Ended April 30, 2012

- 4 -

Net (Expense) Revenue and


Activities Activities Total

(1,209,405)$ -$ (1,209,405)$

(708,136) - (708,136)

(37,223) - (37,223)

(1,954,764) - (1,954,764)

- 40,868 40,868

- 40,868 40,868

(1,954,764) 40,868 (1,913,896)

General Revenues

Taxes

Property 2,640,962 - 2,640,962

Replacement 312,409 - 312,409

Investment income 2,291 938 3,229

Miscellaneous 15,371 - 15,371

Transfers in (out) (93,756) 93,756 -

Total 2,877,277 94,694 2,971,971

CHANGE IN NET ASSETS 922,513 135,562 1,058,075

NET ASSETS, MAY 1 16,573,208 2,303,721 18,876,929

NET ASSETS, APRIL 30 17,495,721$ 2,439,283$ 19,935,004$

Change in Net Assets

Primary Government


General

Debt

General Recreation Service

ASSETS

Cash and investments 2,628,121$ 850,988$ 657,405$

Cash with paying agent - - 8,648



Property taxes 519,141 285,705 529,759

Other 10,256 2,979 -

Inventory 7,404 - -

Prepaid items 6,586 2,149 -

TOTAL ASSETS 3,171,508$ 1,141,821$ 1,195,812$

LIABILITIES AND FUND BALANCES

LIABILITIES

Accounts payable 49,423$ 13,151$ -$

Accrued payroll 19,412 13,051 -

Accrued interest payable - - 8,648

Deposits payable 33,146 325 -

Deferred property tax revenue 519,141 285,705 529,759

Deferred revenue - 39,425 -

Total liabilities 621,122 351,657 538,407

FUND BALANCES

Nonspendable

Prepaid items 6,586 2,149 -

Inventory 7,404 - -

Restricted

Liability insurance 21,310 - -

Debt service - - 657,405

Employee retirement - - -

Special purposes - - -

Special recreation - - -

Construction and development - - -

Unrestricted

Assigned for recreation - 788,015 -

Unassigned 2,515,086 - -

Total fund balances 2,550,386 790,164 657,405

TOTAL LIABILITIES AND

FUND BALANCES 3,171,508$ 1,141,821$ 1,195,812$

April 30, 2012



BALANCE SHEET

GOVERNMENTAL FUNDS

- 6 -

Nonmajor Total

2011 Capital Governmental Governmental

Projects Funds Funds

841,356$ 1,080,338$ 6,058,208$

- - 8,648

- 200,159 1,534,764

- - 13,235

- - 7,404

- - 8,735

841,356$ 1,280,497$ 7,630,994$

775$ 9,430$ 72,779$

- - 32,463

- - 8,648

- - 33,471

- 200,159 1,534,764

- - 39,425

775 209,589 1,721,550

- - 8,735

- - 7,404

- - 21,310

- - 657,405

- 84,042 84,042

- 38,105 38,105

- 266,631 266,631

840,581 682,130 1,522,711

- - 788,015

- - 2,515,086

840,581 1,070,908 5,909,444

841,356$ 1,280,497$ 7,630,994$


FUND BALANCES OF GOVERNMENTAL FUNDS 5,909,444$

Amounts reported for governmental activities in the

statement of net assets are different because:

Capital assets used in governmental activities are not financial

resources and, therefore, are not reported in the governmental funds 12,527,484

Long-term liabilities, including bonds payable, are not due and

payable in the current period and, therefore, are not reported

in the governmental funds (905,000)

Compensated absences payable is not due and payable in the current

period and, therefore, is not reported in governmental funds (36,207)

NET ASSETS OF GOVERNMENTAL ACTIVITIES 17,495,721$


RECONCILIATION OF FUND BALANCES OF GOVERNMENTAL FUNDS TO THE

GOVERNMENTAL ACTIVITIES IN THE STATEMENT OF NET ASSETS

April 30, 2012



General

Debt

General Recreation Service

REVENUES

Taxes 1,128,026$ 495,014$ 944,945$

Charges for services 273,523 584,342 -

Intergovernmental 10,478 - -

Investment income 1,898 85 122

Miscellaneous 2,808 57 -

Total revenues 1,416,733 1,079,498 945,067

EXPENDITURES

Current

General government 895,324 - -

Culture and recreation 284,181 839,405 -

Capital outlay 2,757 - -

Debt service

Principal retirement - - 885,000

Interest and fiscal charges - - 17,963

Total expenditures 1,182,262 839,405 902,963

EXCESS (DEFICIENCY) OF REVENUES

OVER EXPENDITURES 234,471 240,093 42,104

OTHER FINANCING SOURCES (USES)

Bond proceeds, at par - - -

Premium on bonds issued - - -

Transfers (out) - - -

Total other financing sources (uses) - - -

NET CHANGE IN FUND BALANCES 234,471 240,093 42,104

FUND BALANCES, MAY 1 2,315,915 550,071 615,301

FUND BALANCES, APRIL 30 2,550,386$ 790,164$ 657,405$




STATEMENT OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES

GOVERNMENTAL FUNDS

- 9 -

Nonmajor Total

2011 Capital Governmental Governmental

Projects Funds Funds

-$ 385,385$ 2,953,370$

- - 857,865

- - 10,478

- 186 2,291

- 12,500 15,365

- 398,071 3,839,369

- 90,973 986,297

- 265,893 1,389,479

67,686 252,962 323,405

- - 885,000

- - 17,963

67,686 609,828 3,602,144

(67,686) (211,757) 237,225

905,000 - 905,000

3,267 - 3,267

- (93,756) (93,756)

908,267 (93,756) 814,511

840,581 (305,513) 1,051,736

- 1,376,421 4,857,708

840,581$ 1,070,908$ 5,909,444$


NET CHANGE IN FUND BALANCES -

TOTAL GOVERNMENTAL FUNDS 1,051,736$

Amounts reported for governmental activities in the statement of

activities are different because:

Governmental funds report capital outlay as expenditures; however, they are

capitalized and depreciated in the statement of activities 306,877

Some expenses in the statement of activities (e.g., depreciation) do not

require the use of current financial resources and, therefore, are not

reported as expenditures in the government funds (380,603)

The loss on the disposal of capital assets are reported as increases

to expenses on the statement of activities (7,225)

The repayment of long-term debt is reported as an expenditure when due

in governmental funds but as a reduction of principal outstanding in the

statement of activities 885,000

The issuance costs on long-term debt are reported as an expenditure in

governmental funds but as a deferred charge on the statement of net assets:

Amortization of issuance costs (26,669)

Amortization of bond premium 4,142

The proceeds from the issuance of bonds is reported as an other financing source

in governmental funds but as an addition to debt on the statement of net assets (905,000)

The change in compensated absences liability is reported as

an expense on the statement of activities (5,745)

CHANGE IN NET ASSETS OF GOVERNMENTAL ACTIVITIES 922,513$

GOVERNMENTAL ACTIVITIES IN THE STATEMENT OF ACTIVITIES




RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES,

EXPENDITURES AND CHANGES IN FUND BALANCES TO THE




STATEMENT OF NET ASSETS

PROPRIETARY FUND

April 30, 2012

Ice Arena

CURRENT ASSETS

Cash and investments 1,357,910$

Accounts receivable, net of allowance 10,986

Inventory 6,655

Prepaid expenses 4,265

Total current assets 1,379,816

CAPITAL ASSETS

Capital assets not being depreciated 242,794

Capital assets being depreciated 2,191,223

Accumulated depreciation (1,244,383)

Total capital assets 1,189,634

Total assets 2,569,450

CURRENT LIABILITIES

Accounts payable 28,669

Accrued payroll 22,343

Deferred revenue 51,841

Compensated absences 2,731

Total current liabilities 105,584

NONCURRENT LIABILITIES

Compensated absences 24,583

Total noncurrent liabilities 24,583

Total liabilities 130,167

NET ASSETS

Invested in capital assets 1,189,634

Unrestricted 1,249,649

TOTAL NET ASSETS 2,439,283$




STATEMENT OF REVENUES, EXPENSES AND

CHANGES IN NET ASSETS

PROPRIETARY FUND


Ice Arena

OPERATING REVENUE

Program revenue $ 793,416

Rentals 359,824

Other 135,626

Total operating revenue 1,288,866

OPERATING EXPENSE

Operating 1,231,339

Depreciation 56,932

Total operating expense 1,288,271

OPERATING INCOME (LOSS) 595

NONOPERATING REVENUES (EXPENSES)

Gain (loss) on disposal of capital assets (6,183)

Investment income 938

Total nonoperating revenues (expenses) (5,245)

CHANGE IN NET ASSETS BEFORE

TRANSFERS AND CONTRIBUTIONS (4,650)

TRANSFERS IN 93,756

CONTRIBUTIONS

Contributions of capital assets 46,456

CHANGE IN NET ASSETS 135,562

NET ASSETS, MAY 1 2,303,721

NET ASSETS, APRIL 30 $ 2,439,283




STATEMENT OF CASH FLOWS

PROPRIETARY FUND


Ice Arena

CASH FLOWS FROM OPERATING ACTIVITIES

Receipts from customers and users 1,342,239$

Payments to suppliers (556,392)

Payments to employees (660,937)

Net cash from operating activities 124,910

CASH FLOWS FROM NONCAPITAL

FINANCING ACTIVITIES

Transfers in from other funds 93,756

CASH FLOWS FROM CAPITAL AND

RELATED FINANCING ACTIVITIES

None -

CASH FLOWS FROM INVESTING ACTIVITIES

Interest on investments 938

NET INCREASE IN CASH AND CASH EQUIVALENTS 219,604

CASH AND CASH EQUIVALENTS, MAY 1 1,138,306

CASH AND CASH EQUIVALENTS, APRIL 30 1,357,910$

RECONCILIATION OF OPERATING INCOME (LOSS) TO NET

CASH FLOWS FROM OPERATING ACTIVITIES

Operating income (loss) 595$

Adjustments to reconcile operating income (loss)

to net cash from operating activities

Depreciation 56,932

Changes in assets and liabilities

Accounts receivable 12,486

Inventory 1,023

Prepaid expenses 747

Accounts payable 5,599

Accrued payroll 3,410

Deferred revenue 40,887

Compensated absences payable 3,231

NET CASH FROM OPERATING ACTIVITIES 124,910$

NONCASH TRANSACTIONS

Contributions of capital assets 46,456$


NOTES TO FINANCIAL STATEMENTS

- 15 -



NOTES TO FINANCIAL STATEMENTS

April 30, 2012

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements of the Park District of Franklin Park (the District) have been

prepared in conformity with accounting principles generally accepted in the United States of America, as applied to government units (hereinafter referred to as generally accepted accounting principles (GAAP)). The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. The more significant of the District’s accounting policies are described below.

a. Reporting Entity The District is a body corporate and politic established under Illinois Compiled

Statutes (ILCS). The District is considered to be a primary government as defined by GASB Statement No. 14, since it is legally separate and fiscally independent.

The District participates with other park districts in the organization known as West

Suburban Special Recreation Association (WSSRA). WSSRA is governed by a board appointed equally by the member districts. The District levies property taxes in the Special Recreation Fund to provide for its share of the cost of the operations of WSSRA. WSSRA is considered to be a jointly governed organization of the member districts. During the fiscal year ended April 30, 2012, the District contributed $137,031 to WSSRA.

b. Fund Accounting The District uses funds to report on its financial position and the changes in its

financial position. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities.

A fund is a separate accounting entity with a self-balancing set of accounts. Funds

are classified into the following categories: governmental, proprietary and fiduciary. Governmental funds are used to account for all or most of a government’s general

activities, including the collection and disbursement of restricted or committed monies (special revenue funds), the funds committed, restricted or assigned for the acquisition or construction of capital assets (capital projects funds) and the funds committed, restricted or assigned for the servicing of governmental long-term debt (debt service funds). The general (corporate) fund is used to account for all activities of the general government not accounted for in some other fund.

- 15 -



NOTES TO FINANCIAL STATEMENTS (Continued)

- 16 -

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

b. Fund Accounting (Continued)

Proprietary funds are used to account for activities similar to those found in the

private sector, where the determination of net income is necessary or useful to sound

financial administration. Goods or services from such activities can be provided

either to outside parties (enterprise funds) or to other departments or agencies

primarily within the District (internal service funds). Pursuant to GASB Statement

No. 20, Accounting and Financial Reporting for Proprietary Funds, the District has

chosen to apply all FASB pronouncements issued on or before November 30, 1989 to

account for its enterprise funds as well as private-sector standards to the extent that

those standards do not conflict or contradict guidance of GASB. Governments also

have the option of following subsequent private-sector guidance for their business-

type activities and enterprise funds, subject to this same limitation. The District has

elected not to follow subsequent private-sector guidance.

The District has no fiduciary funds.

c. Government-Wide and Fund Financial Statements

The government-wide financial statements (i.e., the statement of net assets and the

statement of activities) report information on all of the activities of the District. The

effect of material interfund activity has been eliminated from these statements.

Governmental activities, which normally are supported by taxes and

intergovernmental revenues, are reported separately from business-type activities,

which rely to a significant extent on user fees and charges for support.

The statement of activities demonstrates the degree to which the direct expenses of a

given function, segment or program are offset by program revenues. Direct expenses

are those that are clearly identifiable with a specific function or segment. Program

revenues include (1) charges to customers or applicants who purchase, use or directly

benefit from goods, services or privileges provided by a given function or segment

and (2) grants and contributions that are restricted to meeting the operational or

capital requirements of a particular function or segment. Taxes and other items not

properly included among program revenues are reported instead as general revenues.

Contributions of land by developers under land/cash ordinances, if any, are reported

as capital grants and contributions on the statement of activities.

Separate financial statements are provided for governmental funds and proprietary

funds. Major individual governmental funds are reported as separate columns in the

fund financial statements.

- 16 -




- 17 -


c. Government-Wide and Fund Financial Statements (Continued)

The District reports the following major governmental funds:

The General Fund is the general operating fund of the District. It is used to

account for all financial resources except those required to be accounted for in

another fund. It is comprised of four subfunds, the general (corporate), North

Park, corporate parks and the public liability insurance subfund.

The Recreation Fund is used to account for revenue and expenditures related to

recreation programs funded by a tax levy and user fees.

The General Debt Service Fund is used to account for the accumulation of

resources for and the payment of principal and interest on governmental

activities long-term debt.

The 2011 Capital Projects Fund was established to track bond proceeds related

to the 2011 $905,000 bond issue. This bond is being used for park and facility

improvements.

The District reports the following major proprietary fund:

The Ice Arena Fund accounts for the operation of the indoor ice arena.

Operations include program revenues, rentals and food and beverage sales.

The cost of operations is recovered through user charges.

d. Measurement Focus, Basis of Accounting and Financial Statement Presentation

The government-wide financial statements are reported using the economic resources

measurement focus and the accrual basis of accounting, as are the proprietary fund

financial statements. With this measurement focus, all assets and all liabilities

associated with the operation of these activities/funds are included on the statement

of net assets. Revenues are recorded when earned and expenses are recorded when a

liability is incurred. Property taxes are recognized as revenues in the year for which

they are levied (i.e., intended to finance). Grants and similar items are recognized as

revenue as soon as all eligibility requirements imposed by the provider have been met.

Operating revenues and expenses are directly attributable to the operation of the

proprietary funds. Nonoperating revenue/expenses are incidental to the operations of

these funds.

- 17 -




- 18 -


d. Measurement Focus, Basis of Accounting and Financial Statement Presentation

(Continued)

Governmental fund financial statements are reported using the current financial

resources measurement focus and the modified accrual basis of accounting. With this

measurement focus, only current assets and current liabilities generally are included

on the balance sheet. Operating statements of these funds present increases (i.e.,

revenues and other financing sources) and decreases (i.e., expenditures and other

financing uses) in net current assets.

Under the modified accrual basis of accounting, revenues are recognized when

susceptible to accrual (i.e., when they become both measurable and available).

Measurable means the amount of the transaction can be determined and available

means collectible within the current period or soon enough thereafter to be used to pay

liabilities of the current period (60 days). The District recognizes property taxes when

they become both measurable and available in the year intended to finance.

Expenditures are recorded when the related liability is incurred. Principal and interest

on general long-term debt are recorded as expenditures become due.

Those revenues susceptible to accrual are property taxes, interest revenue and

charges for services.

The District reports deferred revenue on its financial statements. Deferred revenues

arise when potential revenue does not meet both the measurable and available criteria

for recognition in the current period for governmental funds or earned at the

government-wide level. Deferred revenues also arise when resources are received by

the District before it has legal claim to them as when grant monies are received prior

to the incurrence of qualifying expenditures. In subsequent periods, when revenue

recognition criteria are met, or when the District has a legal claim to the resources by

meeting all eligibility requirements, the liability for deferred revenue is removed

from the financial statements and revenue is recognized.

e. Cash Equivalents

For purposes of the statement of cash flows, the Enterprise Fund considers all highly

liquid investments with a maturity of three months or less when purchased to be cash

equivalents.

- 18 -




- 19 -


f. Investments The District’s investments are recorded at fair value, except for nonnegotiable

certificates of deposits, if any, which are reported at cost. Fair value is based on published market prices as of April 30, 2012.

g. Inventories Inventories consist of amounts available for resale and are accounted for using the

consumption method. Inventories are valued at cost on the first-in/first-out (FIFO) method.

h. Prepaid Expenses/Items Certain payments to vendors reflect costs applicable to future accounting periods,

and are recorded as prepaid expenses/items. Such amounts are offset by fund balance nonspendable for prepaid items in the governmental fund financial statements.

i. Capital Assets Capital assets, which include property, plant, equipment and infrastructure assets

(e.g., bike trails, paths and similar items) are reported in the applicable governmental activities column in the government-wide financial statements. Capital assets are defined by the District as assets with an initial, individual cost of more than $2,500 and an estimated useful life in excess of one year. Such assets are reported at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at estimated fair market value at the date of donation.

The costs of normal maintenance and repairs that do not add to the value of the asset or

materially extend asset lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are

constructed. Interest incurred during the construction phase of capital assets is not included as part of the capitalized value of the assets constructed. Property, plant and equipment is depreciated using the straight-line method over the following estimated useful lives:

Assets Years

Equipment 3-10 Land improvements 10-20 Buildings 10-30 Motor vehicles 3-10

- 19 -




- 20 -


j. Long-Term Obligations

In the government-wide financial statements and the proprietary fund in the fund

financial statements, long-term debt and other long-term obligations are reported as

liabilities in the applicable governmental activities or proprietary fund financial

statements. Bond premiums and discounts, as well as issuance costs, are deferred

and amortized over the life of the bonds. Bonds payable are reported net of the

applicable bond premium or discount. Bond issuance costs are reported as deferred

charges and amortized over the term of the related debt.

In the fund financial statements, governmental funds recognize bond premiums and

discounts, as well as bond issuance costs, during the current period. The face amount

of debt issued is reported as other financing sources. Premiums received on debt

issuances are reported as other financing sources while discounts on debt issuances

are reported as other financing uses. Issuance costs, whether or not withheld from

the actual debt proceeds received, are reported as expenditures.

k. Accrued Compensated Absences

Accumulated unpaid vacation pay is accrued by the District on the statement of net

assets and the proprietary fund financial statements. Employees who work a 12-

month year are entitled to compensated vacation time. Vacations are usually taken

within the anniversary year of each employee. The liability for accumulated unpaid

vacation pay is based upon accumulated days at April 30, 2012, times the current pay

rate (including certain benefits) for each employee.

All full-time employees receive one sick day per month. Unused sick leave days

accumulate to a maximum of 240 days for full-time personnel. The District does not

reimburse employees for unused sick days remaining upon termination of

employment. Therefore, no accrual has been made for sick leave as sick leave does

not vest or accumulate.

l. Property Taxes

Property tax revenues are recognized in the year intended to finance. The second

installment of the 2011 tax levy is intended to finance the 2013 fiscal year and is not

considered available for current operations and is, therefore, shown as receivable and

deferred revenue at year end. The District assumes 1% of the levy is uncollectible.

- 20 -




- 21 -


m. Net Assets/Fund Balance

In the fund financial statements, governmental funds report nonspendable fund

balance for amounts that are either not in spendable form or legally or contractually

required to be maintained intact. Restrictions of fund balance are reported for

amounts constrained by legal restrictions from outside parties for use for a specific

purpose, or externally imposed by outside entities or from enabling legislation

adopted by the District. Committed fund balance, if any, is constrained by formal

actions of the District’s Board of Commissioners, which is considered the District’s

highest level of decision making authority. Formal actions include resolutions and

ordinances approved by the Board. Assigned fund balance represents amounts

constrained by the District’s intent to use them for a specific purpose. The authority

to assign fund balance has been delegated to the Executive Director. Any residual

fund balance in the General Fund, including fund balance targets and any deficit fund

balance of any other governmental fund is reported as unassigned.

The District has established a fund balance reserve policy for its general fund. The

policy requires fund balance to be maintained in the general fund at a target base of a

minimum of three to four months of the annual budgeted expenditures. Balances in

excess of four months may be transferred to the Capital Projects Fund to support

future capital projects.

The District’s flow of funds assumption prescribes that the funds with the highest

level of constraint are expended first. If restricted or unrestricted funds are available

for spending, the restricted funds are spent first. Additionally, if different levels of

unrestricted funds are available for spending the District considers committed funds

to be expended first followed by assigned funds and then unassigned funds.

In the government-wide financial statements, restricted net assets are legally

restricted by outside parties for a specific purpose. None of the restricted net assets

result from enabling legislation adopted by the District. Invested in capital assets, net

of related debt, represents the District’s investment in the book value of capital assets,

less any outstanding debt that was issued to construct or acquire the capital asset.

n. Interfund Transactions

Internal services transactions are accounted for as revenues, expenditures or

expenses. Transactions that constitute reimbursements to a fund for

expenditures/expenses initially made from it that are properly applicable to another

fund, are recorded as expenditures/expenses in the reimbursing fund and as

reductions of expenditures/expenses in the fund that is reimbursed.

- 21 -




- 22 -


n. Interfund Transactions (Continued)

All other interfund transactions, except internal services transactions and

reimbursements, are reported as transfers.

o. Interfund Receivables/Payables

Activity between funds that are representative of lending/borrowing arrangements

outstanding at the end of the fiscal year are referred to as either “due to/from other

funds” (i.e., the current portion of interfund loans) or “advances to/from other funds”

(i.e., the noncurrent portion of interfund loans). All other outstanding balances

between funds are reported as “due to/from other funds.”

2. DEPOSITS AND INVESTMENTS

ILCS and the District’s investment policy authorizes the District to make deposits/invest in

insured commercial banks, savings and loan institutions, obligations of the U.S. Treasury

and U.S. agencies, insured credit union shares, money market mutual funds with portfolios

of securities issued or guaranteed by the United States or agreements to repurchase these

same obligations, repurchase agreements, short-term commercial paper rated within the

three highest classifications by at least two standard rating services and Illinois Funds.

Illinois Funds is an investment pool managed by the State of Illinois, Office of the

Treasurer, which allows governments within the state to pool their funds for investment

purposes. Illinois Funds is not registered with the SEC as an investment company, but

does operate in a manner consistent with Rule 2a7 of the Investment Company Act of

1940. Investments in Illinois Funds are valued at Illinois Funds’ share price, which is the

price for which the investment could be sold.

It is the policy of the District to invest its funds in a manner which will provide the highest

investment return with the maximum security while meeting the daily cash flow demands

of the District and conforming to all state and local statutes governing the investment of

public funds, using the “prudent person” standard for managing the overall portfolio. The

primary objective of the policy is safety (preservation of capital and protection of

investment principal), liquidity and yield.

- 22 -




- 23 -

2. DEPOSITS AND INVESTMENTS (Continued)

Deposits

Custodial credit risk for deposits with financial institutions is the risk that in the event of a

bank’s failure, the District’s deposits may not be returned to it. The District’s investment

policy requires pledging of collateral with a fair value of 110% of all bank balances in

excess of federal depository insurance with the collateral held by an agent of the District in

the District’s name.

Investments

In accordance with its investment policy, the District limits its exposure to interest rate risk

by structuring the portfolio to provide liquidity for operating funds and maximizing yields

for funds not needed within a three-year period. The investment policy limits the

maximum maturity length of investments for nonreserve funds to three years from date of

purchase. Investments in reserve funds may be purchased with maturities to match future

projects or liability requirements; however, any maturities greater than four years must be

approved in advance by the Board of Commissioners. In addition, the policy requires the

District to structure the investment portfolio so that securities mature to meet cash

requirements for ongoing operations, prohibiting selling securities on the open market prior

to maturity.

The District limits its exposure to credit risk, the risk that the issuer of a debt security will

not pay its par value upon maturity, by primarily investing in obligations guaranteed by the

U.S. Government or securities issued by agencies of the U.S. Government that are

explicitly or implicitly guaranteed by the U.S. Government. The money market mutual

fund is not rated.

Custodial credit risk for investments is the risk that, in the event of the failure of the

counterparty to the investment, the District will not be able to recover the value of its

investments that are in possession of an outside party. To limit its exposure, the District’s

investment policy requires all security transactions that are exposed to custodial credit risk

to be processed on a delivery versus payment (DVP) basis with the underlying investments

held by a third party acting as the District’s agent separate from where the investment was

purchased or by the trust department of the bank where purchased, in the District’s name.

Concentration of credit risk - The District’s investment policy requires diversification but

does not contain specific diversification targets or limits.

The District’s investment policy specifically prohibits the use of or the investment in

derivatives.

- 23 -




- 24 -

3. PROPERTY TAX CALENDAR The following information gives significant dates on the property tax calendar of the

District. - The property tax lien date is January 1. - The annual tax levy ordinance for 2011 was passed December 20, 2011. - Property taxes are due to the County Collector in two installments, March 1 and

September 1. - Property taxes for 2011 are normally received monthly beginning in March and

generally ending by November 2012. The 2012 tax levy, which attached as an enforceable lien on property as of January 1, 2012,

has not been recorded as a receivable as of April 30, 2012 as the tax has not yet been levied by the District and will not be levied until December 2012 and, therefore, the levy is not measurable at April 30, 2012.

4. CAPITAL ASSETS Capital asset activity for the year ended April 30, 2012 was as follows:

Beginning Balances

Increases

Decreases

Ending Balances

GOVERNMENTAL ACTIVITIES Capital assets not being depreciated Land $ 5,127,806 $ - $ - $ 5,127,806 Construction in progress 7,288 30,445 (7,288) 30,445

Total capital assets not being depreciated 5,135,094 30,445 (7,288) 5,158,251

Capital assets being depreciated Land improvements 5,160,930 239,402 (5,750) 5,394,582 Buildings 5,492,289 - - 5,492,289 Motor vehicles 218,071 30,334 - 248,405 Equipment 1,438,410 13,984 (3,000) 1,449,394

Total capital assets being depreciated 12,309,700 283,720 (8,750) 12,584,670

Less accumulated depreciation for Land improvements 649,549 104,123 - 753,672 Buildings 2,898,936 213,507 - 3,112,443 Motor vehicles 203,712 2,282 - 205,994 Equipment 1,084,162 60,691 (1,525) 1,143,328

Total accumulated depreciation 4,836,359 380,603 (1,525) 5,215,437

Total capital assets being depreciated, net 7,473,341 (96,883) (7,225) 7,369,233

GOVERNMENTAL ACTIVITIES CAPITAL ASSETS, NET $ 12,608,435 $ (66,438) $ (14,513) $ 12,527,484

- 24 -




- 25 -

4. CAPITAL ASSETS (Continued)

Beginning

Balances

Increases

Decreases

Ending

Balances

BUSINESS-TYPE ACTIVITIES

Capital assets not being depreciated

Land $ 222,559 $ - $ - $ 222,559

Construction in progress 28,990 - (8,755) 20,235

Total capital assets not being depreciated 251,549 - (8,755) 242,794

Capital assets being depreciated

Land improvements 550,670 - - 550,670

Buildings 1,413,232 24,000 - 1,437,231

Maintenance equipment 180,175 31,211 (8,065) 203,322

Total capital assets being depreciated 2,144,077 55,211 (8,065) 2,191,223

Less accumulated depreciation for

Land improvements 85,839 18,161 - 104,000

Buildings 978,158 30,521 - 1,008,679

Maintenance equipment 125,336 8,250 (1,882) 131,704

Total accumulated depreciation 1,189,333 56,932 (1,882) 1,244,383

Total capital assets being depreciated, net 954,744 (1,721) (6,183) 946,840


CAPITAL ASSETS, NET $ 1,206,293 $ (1,721) $ (14,938) $ 1,189,634

Depreciation expense was charged to functions/programs of the primary government as

follows:

GOVERNMENTAL ACTIVITIES

General government $ 180,949

Culture and recreation 199,654

TOTAL DEPRECIATION EXPENSE - GOVERNMENTAL ACTIVITIES $ 380,603

- 25 -




- 26 -

5. LONG-TERM DEBT

The following is a summary of changes in long-term debt of the District for the year ended

April 30, 2012:

Beginning

Balances

Additions

Reductions

Ending

Balances

Current

Portion

Long-term

Portion

GOVERNMENTAL

ACTIVITIES

General obligation bonds $ 885,000 $ 905,000 $ 885,000 $ 905,000 $ 905,000 $ -

Bond premium 4,142 - 4,142 - - -

Compensated absences 30,462 5,745 - 36,207 3,621 32,586

TOTAL

GOVERNMENTAL

ACTIVITIES

$ 919,604

$ 910,745

$ 889,142

$ 941,207

$ 908,621

$ 32,586

BUSINESS-TYPE

ACTIVITIES

Compensated absences $ 24,083 $ 3,231 $ - $ 27,314 $ 2,731 $ 24,583

Compensated absences are typically liquidated by the General and Recreation Funds.

Long-term debt at April 30, 2012 is comprised of the following individual bond issues:

General Obligations Bonds

$905,000 General Obligation Limited Tax Park Bonds, Series 2011

dated November 9, 2011 due in one principal installment of

$905,000 on November 1, 2012 with interest at 2.00%. $ 905,000

TOTAL GENERAL OBLIGATION BONDS $ 905,000

The annual requirements to amortize to maturity serial debt outstanding as of April 30,

2012 are as follows:

Year

Ending

General Obligation Series Bonds

April 30, Principal Interest

2013 $ 905,000 $ 17,698

TOTAL $ 905,000 $ 17,698

- 26 -




- 27 -

6. INSURANCE

The District is exposed to various risks related to torts; theft of, damage to and destruction

of assets; errors and omissions; employee health; injuries to employees; and net income

losses. Employee health is covered by commercial insurance purchased from independent

third parties. For all insured programs, settlement amounts have not exceeded insurance

coverage for the current or two prior years. Since June 5, 2001, the District has been a

member of the Park District Risk Management Agency (PDRMA) Property/Casualty

Program, a joint risk management pool of park and forest preserve districts and special

recreation associations through which property, general liability, automobile liability,

crime, boiler and machinery, public officials’, employment practices liability and workers’

compensation coverage is provided in excess of specified limits for the members, acting as

a single insurable unit. The following table is a summary of the property/casualty coverage

in effect for the period January 1, 2012 through January 1, 2013.

Coverage

Member

Deductible

PDRMA

Self-

Insured

Retention

Limits

Insurance

Company

Policy

Number

1. Property

Property/bldg contents

Per occurrence $ 1,000 $ 1,000,000 $1,000,000,000/all members PDRMA P070110

Annual aggregate $ 3,000,000 Declaration 11 Reinsurers:

Flood/except zones A,V $ 1,000 $ 100,000 $250,000,000/occurrence/

annual aggregate

Various

Reinsurers

Flood, zones A,V $ 1,000 $ 250,000 $200,000,000/occurrence/

annual aggregate

Through the

Public Entity

Earthquake shock $ 1,000 $ 100,000 $100,000,000/occurrence/

annual aggregate

Property

Reinsurance

Program (PEPIP)

Multiple

Auto physical damage

Comprehensive and

collision $ 1,000 $ 1,000,000 Included

Course of construction/

builders risk

$ 1,000 Included $25,000,000

Business interruption,

rental income, tax

income combined

$ 1,000 N/A $100,000,000/reported values

$500,000/$2,500,000/non-

reported values

Service interruption 24 hours N/A $10,000,000

other sub-limits apply, refer

to coverage document

Boiler and machinery

Property damage $ 1,000 $ 9,000 $100,000,000 equip.

breakdown property damage -

included

Travelers

Indemnity Co. of

Illinois

BME10525L478

Business income 48 hours N/A Included

other sub-limits apply, refer

to coverage document

Fidelity/crime $ 1,000 $ 24,000 $2,000,000 National Union 01-423-88-11

Seasonal employees $ 1,000 $ 9,000 $1,000,000 Fire Insurance

Blanket bond $ 1,000 $ 24,000 $2,000,000 Co.

- 27 -




- 28 -

6. INSURANCE (Continued)

Coverage

Member Deductible

PDRMA Self-

Insured Retention

Limits

Insurance Company

Policy Number

2. Workers’ compensation N/A $ 500,000 Statutory PDRMA WC01012 Employer’s liability $ 500,000 $3,500,000 employers Government GEM-0003- Liability Entities Mutual, A11001 Safety National SP-4043456 Casualty Corp. 3. Liability General liability None $ 500,000 $21,500,000/occurrence/

annual aggregate PDRMA L010111

Auto liability None Included Included Reinsurers: GEM-0003- Employment practices None Included $21,500,000/occurrence/

annual aggregate Government Entities Mutual,

A11001

None Included Markel, Public officials’ liability Law enforcement

liability None

Included

Included

Star Indemnity and Liability Co.

8090010

Uninsured/underinsured motorists

None Included $1,000,000/occurrence

4. Pollution liability Liability - third party None $ 25,000 $5,000,000/occurrence XL Environmental PEC 2535804 Property - first party $ 1,000 $ 24,000 $10,000,000 general

aggregate Insurance

5. Outbreak Expense 24 hours N/A $15,000 per day

$450,000 per location $1 million aggregate policy limit

Markel

6. Volunteer Medical

Accident None $ 5,000 $5,000 medical expense and

AD&D excess of any other collectible insurance

Self-insured

7. Underground Storage

Tank Liability None N/A $10,000, follows Illinois

Leaking Underground Tank Fund

Self-insured

8. Unemployment

Compensation N/A N/A Statutory Self-insured

Losses exceeding the per-occurrence self-insured and reinsurance limit would be the

responsibility of the District. The District is not aware of any additional amounts owed to PDRMA at April 30, 2012.

As a member of PDRMA’s Property/Casualty Program, the District is represented on the

Property/Casualty Program Council and the Membership Assembly and is entitled to one vote on each. The relationship between the District and PDRMA is governed by a contract and bylaws that have been adopted by resolution of the District’s governing body. The District is contractually obligated to make all annual and supplementary contributions to PDRMA, to report claims on a timely basis, cooperate with PDRMA, its claims administrator and attorneys in claims investigation and settlement, and to follow risk management procedures as outlined by PDRMA.

- 28 -




- 29 -

6. INSURANCE (Continued) Members have a contractual obligation to fund any deficit of PDRMA attributable to a

membership year during which they were a member. PDRMA is responsible for administering the self-insurance program and purchasing excess insurance according to the direction of the Program Council. PDRMA also provides its members with risk management services, including the defense of and settlement of claims, and establishes reasonable and necessary loss reduction and prevention procedures to be followed by the members.

7. RETIREMENT FUND COMMITMENTS Illinois Municipal Retirement Fund The District’s defined benefit pension plan, Illinois Municipal Retirement Fund (IMRF),

provides retirement, disability, annual cost of living adjustments and death benefits to plan members and beneficiaries. IMRF is an agent multiple-employer pension plan that acts as a common investment and administrative agent for local governments and school districts in Illinois. The Illinois Pension Code establishes the benefit provisions of the plan that can only be amended by the Illinois General Assembly. IMRF issues a publicly available financial report that includes financial statements and required supplementary information for the plan as a whole but not by individual employer. That report may be obtained by writing to the Illinois Municipal Retirement Fund, 2211 York Road, Suite 500, Oak Brook, Illinois 60523.

All employees hired in positions that meet or exceed the prescribed annual hourly standard

must be enrolled in IMRF as participating members. Pension benefits vest after eight years of service. Participating members who retire at or after age 60 with eight years of credited service are entitled to an annual retirement benefit, payable monthly for life, in an amount equal to 1 2/3% of their final rate of earnings, for each year of credited service up to 15 years, and 2% for each year thereafter. IMRF also provides death and disability benefits. These benefit provisions and all other requirements are established by state statute.

Employees hired on or after January 1, 2011, are eligible for Tier 2 benefits. For Tier 2

employees, pension benefits vest after ten years of service. Participating members who retire at age 62 (reduced benefits) or after age 67 (full benefits) with ten years of credited service are entitled to an annual retirement benefit, payable monthly for life, in an amount equal to 1 2/3% of their final rate of earnings, for each year of credited service up to 15 years, and 2% for each year thereafter.

Employees participating in the IMRF are required to contribute 4.5% of their annual

covered salary. The member rate is established by state statute. The District is required to contribute at an actuarially determined rate. The employer rate for calendar year 2011 and 2012 was 10.60% and 10.14% of payroll, respectively. The employer contribution requirements are established and may be amended by the IMRF Board of Trustees.

- 29 -




- 30 -

7. RETIREMENT FUND COMMITMENTS (Continued)

Illinois Municipal Retirement Fund (Continued)

For the fiscal year April 30, 2012, the District’s annual pension cost of $118,173 was equal

to the District’s required and actual contributions. The required contribution was

determined as part of the December 31, 2009 actuarial valuation using the entry-age

actuarial cost method. The actuarial assumptions at December 31, 2008 included (a) 7.50

percent investment rate of return (net of administrative and direct investment expenses), (b)

projected salary increases of 4.00% a year, attributable to inflation, (c) additional projected

salary increases ranging from 0.4% to 10% per year annually and (d) post retirement

benefit increases of 3.00% annually. The actuarial value of the employer regular plan

assets was determined using techniques that spread the effects of short term volatility in the

market value of investments over a five year period with a 20% corridor between the

actuarial and market value of assets. The employer regular plan’s unfunded actuarial

accrued liability is being amortized as a level percentage of projected payroll on an open

basis. The remaining amortization period at December 31, 2011 was 30 years.

Employer annual pension cost (APC), actual contributions and the net pension obligation

(NPO) are as follows. The NPO is the cumulative difference between the APC and the

contributions actually made.

For

Fiscal

Year

Annual

Pension

Cost

(APC)

Percentage

of APC

Contributed

Net

Pension

Obligation

2010 $ 74,805 100.00% $ -

2011 115,852 100.00% -

2012 118,173 100.00% -

The funded status of the plan as of December 31, 2011, based on the actuarial valuation, is

the same actuarial assumptions used to determine the employer annual pension costs of the

plan as disclosed above.

Actuarial accrued liability (AAL) $ 3,590,409

Actuarial value of plan assets 2,983,147

Unfunded actuarial accrued liability (UAAL) 607,262

Funded ratio (actuarial value of plan assets/AAL) 83.09%

Covered payroll (active plan members) $ 1,165,416

UAAL as a percentage of covered payroll 52.11%

- 30 -




- 31 -

7. RETIREMENT FUND COMMITMENTS (Continued) Illinois Municipal Retirement Fund (Continued) See the schedule of funding progress in the required supplementary information

immediately following the notes to financial statements for additional information related to the funded status of the plan.

8. INDIVIDUAL FUND DISCLOSURES Interfund Transfers Individual fund interfund transfers are as follows:

Transfers

In Transfers

Out

Ice Arena Fund $ 93,756 $ - Nonmajor Governmental Funds - 93,756

TOTAL $ 93,756 $ 93,756

The purpose of significant transfers is as follows:

$93,756 transferred to the Ice Arena Fund from the Municipal Retirement Fund $(44,187) and the Social Security Fund $(49,569) is to pay the IMRF and FICA expenses incurred by the Ice Arena Fund. The transfer will not be repaid.

9. CONTINGENT LIABILITIES a. Litigation The District is a defendant in various lawsuits. Although the outcome of these

lawsuits is not presently determinable, in the opinion of the District’s attorney, the resolution of these matters will not have a material adverse effect on the financial condition of the District.

b. Grants Amounts received or receivable from grantor agencies are subject to audit and

adjustment by grantor agencies, principally the federal government. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures that may be disallowed by the grantor cannot be determined at this time although the District expects such amounts, if any, to be immaterial.

- 31 -




- 32 -

10. OTHER POSTEMPLOYMENT BENEFITS

The District has evaluated its potential other postemployment benefits liability. The

District provides continued health insurance coverage at the active employer rate to all

eligible employees in accordance with Illinois statues, which creates an implicit subsidy of

retiree health insurance. Former employees who choose to retain their rights to health

insurance through the District are required to pay 100% of the current premium. However,

no former employees have chosen to stay in the District’s health insurance plan. Therefore,

there has been 0% utilization and, therefore, no implicit subsidy to calculate in accordance

with GASB Statement No. 45, Accounting and Financial Reporting by Employers for

Postemployment Benefits Other Than Pensions. Additionally, the District had no former

employees for which the District was providing an explicit subsidy and no current

employees with agreements for future explicit subsidies upon retirement. Therefore, the

District has not recorded any postemployment benefit liability as of April 30, 2012.

- 32 -

REQUIRED SUPPLEMENTARY INFORMATION

Variance

Original Final Over

Budget Budget Actual (Under)

REVENUES

Taxes 1,001,000$ 1,001,000$ 1,128,026$ 127,026$

Charges for services 375,420 375,420 273,523 (101,897)

Intergovernmental - - 10,478 10,478

Investment income 750 750 1,898 1,148

Miscellaneous 1,750 1,750 2,808 1,058

Total revenues 1,378,920 1,378,920 1,416,733 37,813

EXPENDITURES

Current

General government

Administration 532,953 532,953 509,135 (23,818)

Corporate parks 466,330 466,330 386,189 (80,141)

Culture and recreation

Centre at North Park 299,920 299,920 284,181 (15,739)

Capital outlay 3,000 3,000 2,757 (243)

Total expenditures 1,302,203 1,302,203 1,182,262 (119,941)


OVER EXPENDITURES 76,717 76,717 234,471 157,754


Transfers in 466,330 466,330 - (466,330)

Transfers (out) (655,115) (655,115) - 655,115

Total other financing sources (uses) (188,785) (188,785) - 188,785

NET CHANGE IN FUND BALANCE (112,068)$ (112,068)$ 234,471 346,539$

FUND BALANCE, MAY 1 2,315,915

FUND BALANCE, APRIL 30 2,550,386$

GENERAL (CORPORATE) FUND




SCHEDULE OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL

(See independent auditor's report.)- 33 -



Variance

Original Final Over

Budget Budget Actual (Under)

REVENUES

Taxes 460,000$ 460,000$ 495,014$ 35,014$

Charges for services

Program revenue 343,385 343,385 395,164 51,779

Pool revenue 141,095 141,095 155,776 14,681

Rentals 35,000 35,000 32,368 (2,632)

Concession/vending 1,000 1,000 1,034 34

Investment income 100 100 85 (15)

Miscellaneous 500 500 57 (443)

Total revenues 981,080 981,080 1,079,498 98,418

EXPENDITURES

Current


Recreation department 651,870 651,870 667,150 15,280

Pool 155,295 155,295 172,255 16,960

Total expenditures 807,165 807,165 839,405 32,240


OVER EXPENDITURES 173,915 173,915 240,093 66,178


Transfers (out) (14,200) (14,200) - 14,200

Total other financing sources (uses) (14,200) (14,200) - 14,200

NET CHANGE IN FUND BALANCE 159,715$ 159,715$ 240,093 80,378$

FUND BALANCE, MAY 1 550,071

FUND BALANCE, APRIL 30 790,164$


CHANGES IN FUND BALANCE - BUDGET AND ACTUAL

RECREATION FUND





Annual

Required

Fiscal Employer Contribution Percentage

Year Contributions (ARC) Contributed

2007 60,835$ 60,835$ 100.00%

2008 67,140 67,140 100.00%

2009 60,075 60,075 100.00%

2010 74,805 74,805 100.00%

2011 115,852 115,852 100.00%

2012 118,173 118,173 100.00%

April 30, 2012

SCHEDULE OF EMPLOYER CONTRIBUTIONS

ILLINOIS MUNICIPAL RETIREMENT FUND




(4) UAAL

(2) Unfunded (OAAL)

Actuarial (Overfunded) as a

Actuarial (1) Accrued (3) AAL Percentage

Valuation Actuarial Liability Funded (UAAL) (5) of Covered

Date Value of (AAL) Ratio (OAAL) Covered Payroll

December 31, Assets Entry-Age (1) / (2) (2) - (1) Payroll (4) / (5)

2006 2,810,140$ 2,458,862$ 114.29% (351,278)$ 1,024,733$ (34.28%)

2007 2,992,872 2,529,430 118.32% (463,442) 1,065,411 (43.50%)

2008 2,357,443 2,750,964 85.70% 393,521 1,050,700 37.45%

2009 2,527,108 2,894,203 87.32% 367,095 1,074,680 34.16%

2010 2,785,755 3,225,839 86.36% 440,084 1,085,094 40.56%

2011 2,983,147 3,590,409 83.09% 607,262 1,165,416 52.11%

April 30, 2012

SCHEDULE OF FUNDING PROGRESS

ILLINOIS MUNICIPAL RETIREMENT FUND


- 37 -



NOTES TO REQUIRED SUPPLEMENTARY INFORMATION

April 30, 2012

BUDGETS AND BUDGETARY ACCOUNTING

a. The District follows these procedures in establishing the budgetary data reflected in the

financial statements.

1. In June 2011, the Director submitted to the Board of Commissioners a proposed

operating budget and appropriation for the fiscal year covering the period May 1,

2011 through April 30, 2012. The operating budget included proposed expenditures

and the means of financing them.

2. A public budget work session was conducted at a public meeting to obtain taxpayer

comments.

3. On June 14, 2011, the operating budget was adopted through passage of a resolution

by the Board of Commissioners. On July 26, 2011, the appropriation was adopted

via ordinance by the Board of Commissioners.

4. Once adopted, the Board of Commissioners can make transfers between objects

within any fund up to 10% of the total budget of that fund. However, any revisions

that alter the total disbursements of any fund must be approved by the Board of

Commissioners after a public hearing. Management can make transfers between line

items within a fund, if the fund total is not altered.

5. Formal budgetary integration is employed as a management control device during

the year for the General, Special Revenue, Debt Service and Capital Projects Funds.

The Ice Arena is appropriated as part of the Recreation Fund. The legal level of

budgetary control is the fund level.

6. Budgets are adopted on a basis consistent with generally accepted accounting

principles. The financial statements present the operating budget of the District.

7. All budget authority lapses at the end of the year. Supplemental appropriations were

adopted during the current fiscal year.

- 37 -



NOTES TO REQUIRED SUPPLEMENTARY INFORMATION (Continued)

- 38 -

BUDGETS AND BUDGETARY ACCOUNTING (Continued)

b. Excesses of Expenditures/Expenses over Operating Budget

The following individual fund expenditures/expenses exceeded the operating budget and/or

the appropriation in the following amounts, exclusive of depreciation:

Expenditures/

Expenses

Operating

Budget

Appropriation

Municipal Retirement $ 76,539 $ 75,000 $ 140,000

Social Security 86,692 84,500 147,840

Audit 19,493 19,373 21,698

Special Recreation 174,142 168,000 187,163

Recreation 839,405 807,165 901,308

General Debt Service 902,963 903,620 903,620

2011 Capital Projects 67,686 - 1,840,875

*Amount appropriated for both capital project funds combined

- 38 -

COMBINING AND INDIVIDUAL FUND

FINANCIAL STATEMENTS

MAJOR GOVERNMENTAL FUNDS



COMBINING BALANCE SHEET

GENERAL (CORPORATE) FUND BY SUBFUND

April 30, 2012

Public

General Corporate Liability

(Corporate) North Park Parks Insurance Total

Cash and investments 2,287,717$ 284,252$ 32,019$ 24,133$ 2,628,121$



Property taxes 518,587 - - 554 519,141

Other 4,591 5,815 (150) - 10,256

Inventory - 5,583 1,821 - 7,404

Prepaid items 2,028 2,153 2,405 - 6,586

TOTAL ASSETS 2,812,923$ 297,803$ 36,095$ 24,687$ 3,171,508$

LIABILITIES

Accounts payable 32,076$ 6,525$ 9,523$ 1,299$ 49,423$

Accrued payroll 5,042 4,254 8,592 1,524 19,412

Deposits payable - 33,146 - - 33,146

Deferred property tax revenue 518,587 - - 554 519,141

Total liabilities 555,705 43,925 18,115 3,377 621,122

FUND BALANCES

Nonspendable

Prepaid items 2,028 2,153 2,405 - 6,586

Inventory - 5,583 1,821 - 7,404

Restricted for liability insurance - - - 21,310 21,310

Unrestricted

Unassigned 2,255,190 246,142 13,754 - 2,515,086

Total fund balances 2,257,218 253,878 17,980 21,310 2,550,386


FUND BALANCES 2,812,923$ 297,803$ 36,095$ 24,687$ 3,171,508$

ASSETS

LIABILITIES AND

FUND BALANCES


Variance Variance

Final Over Final Over

Budget Actual (Under) Budget Actual (Under)

REVENUES

Property taxes

Current 750,000$ 878,342$ 128,342$ -$ -$ -$

Prior years - (5,582) (5,582) - - -

Replacement taxes 250,000 257,409 7,409 - - -

Total taxes 1,000,000 1,130,169 130,169 - - -


Centre at North Park

Program revenue - aerobics - - - 22,000 34 (21,966)

Program revenue - fitness - - - - 5,782 5,782

Program revenue - facility rentals - - - - 10,225 10,225

Vending - - - 4,000 1,661 (2,339)

Rentals - - - 346,920 254,308 (92,612)

Snack shack food resale - - - 500 466 (34)

Miscellaneous - - - 2,000 1,047 (953)

Total charges for services - - - 375,420 273,523 (101,897)

Intergovernmental - - - - - -

Investment income 250 1,884 1,634 - - -

Miscellaneous 1,750 2,808 - - - -

Total revenues 1,002,000 1,134,861 131,803 375,420 273,523 (101,897)

EXPENDITURES

Current

General government

Administration

Salaries 194,104 204,129 10,025 - - -

Benefits 45,500 41,057 (4,443) - - -

Contractual services 53,500 46,955 (6,545) - - -

Communications 17,000 14,059 (2,941) - - -

Professional development 16,500 24,374 7,874 - - -

General supplies 5,000 5,921 921 - - -

Other expenditures 3,500 4,964 1,464 - - -

Total administration 335,104 341,459 6,355 - - -

Corporate parks

Salaries - - - - - -

Benefits - - - - - -

Contractual services - - - - - -

Communications - - - - - -

Professional development - - - - - -

Service charges - - - - - -

Maintenance supplies - - - - - -

General supplies - - - - - -

Total corporate parks - - - - - -

Total general government 335,104 341,459 6,355 - - -


General (Corporate) North Park



COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND



(This schedule is continued on the following pages.)- 40 -

Variance Variance Variance

Final Over Final Over Final Over

Budget Actual (Under) Budget Actual (Under) Eliminations Budget Actual (Under)

-$ -$ -$ 1,000$ 1,212$ 212$ -$ 751,000$ 879,554$ 128,554$

- - - - (3,355) (3,355) - - (8,937) (8,937)

- - - - - - - 250,000 257,409 7,409

- - - 1,000 (2,143) (3,143) - 1,001,000 1,128,026 127,026

- - - - - - - 22,000 34 (21,966)

- - - - - - - - 5,782 5,782

- - - - - - - - 10,225 10,225

- - - - - - - 4,000 1,661 (2,339)

- - - - - - - 346,920 254,308 (92,612)

- - - - - - - 500 466 (34)

- - - - - - - 2,000 1,047 (953)

- - - - - - - 375,420 273,523 (101,897)

- 10,478 10,478 - - - - - 10,478 10,478

- - - 500 14 (486) - 750 1,898 1,148

- - - - - - - 1,750 2,808 1,058

- 10,478 10,478 1,500 (2,129) (3,629) - 1,378,920 1,416,733 37,813

- - - 70,699 66,320 (4,379) - 264,803 270,449 5,646

- - - 47,650 34,908 (12,742) - 93,150 75,965 (17,185)

- - - 66,500 57,315 (9,185) - 120,000 104,270 (15,730)

- - - - - - - 17,000 14,059 (2,941)

- - - 12,000 8,363 (3,637) - 28,500 32,737 4,237

- - - - - - - 5,000 5,921 921

- - - 1,000 770 (230) - 4,500 5,734 1,234

- - - 197,849 167,676 (30,173) - 532,953 509,135 (23,818)

242,659 216,265 (26,394) - - - - 242,659 216,265 (26,394)

43,931 21,993 (21,938) - - - - 43,931 21,993 (21,938)

59,450 50,478 (8,972) - - - - 59,450 50,478 (8,972)

4,500 4,540 40 - - - - 4,500 4,540 40

2,770 975 (1,795) - - - - 2,770 975 (1,795)

29,950 19,783 (10,167) - - - - 29,950 19,783 (10,167)

50,520 38,799 (11,721) - - - - 50,520 38,799 (11,721)

32,550 33,356 806 - - - - 32,550 33,356 806

466,330 386,189 (80,141) - - - - 466,330 386,189 (80,141)

466,330 386,189 (80,141) 197,849 167,676 (30,173) - 999,283 895,324 (103,959)

Public Liability InsuranceCorporate Parks Total


Variance Variance

Final Over Final Over

Budget Actual (Under) Budget Actual (Under)

EXPENDITURES (Continued)

Current (Continued)



Salaries -$ -$ -$ 140,020$ 141,773$ 1,753$

Benefits - - - 7,000 5,753 (1,247)

Contractual services - - - 14,250 12,496 (1,754)

Communications - - - 8,400 10,131 1,731

Professional development - - - 750 178 (572)

Service charges - - - 45,800 40,997 (4,803)

Maintenance supplies - - - 3,000 1,268 (1,732)

General supplies - - - 68,700 60,730 (7,970)

Other expenditures - - - 12,000 10,855 (1,145)

Total Centre at North Park - - - 299,920 284,181 (15,739)

Total culture and recreation - - - 299,920 284,181 (15,739)

Capital outlay 3,000 2,757 (243) - - -

Total expenditures 338,104 344,216 6,112 299,920 284,181 (15,739)


OVER EXPENDITURES 663,896 790,645 125,691 75,500 (10,658) (86,158)


Transfers in - - - - - -

Transfers (out) (655,115) (375,672) 279,443 - - -

Total other financing sources (uses) (655,115) (375,672) 279,443 - - -

NET CHANGE IN FUND BALANCES 8,781$ 414,973 405,134$ 75,500$ (10,658) (86,158)$

FUND BALANCES, MAY 1 1,842,245 264,536

FUND BALANCES, APRIL 30 2,257,218$ 253,878$


General (Corporate) North Park


COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND

CHANGES IN FUND BALANCES - BUDGET AND ACTUAL (Continued)



(This schedule is continued on the following page.)- 42 -

Variance Variance Variance

Final Over Final Over Final Over

Budget Actual (Under) Budget Actual (Under) Eliminations Budget Actual (Under)

-$ -$ -$ -$ -$ -$ -$ 140,020$ 141,773$ 1,753$

- - - - - - - 7,000 5,753 (1,247)

- - - - - - - 14,250 12,496 (1,754)

- - - - - - - 8,400 10,131 1,731

- - - - - - - 750 178 (572)

- - - - - - - 45,800 40,997 (4,803)

- - - - - - - 3,000 1,268 (1,732)

- - - - - - - 68,700 60,730 (7,970)

- - - - - - - 12,000 10,855 (1,145)

- - - - - - - 299,920 284,181 (15,739)

- - - - - - - 299,920 284,181 (15,739)

- - - - - - - 3,000 2,757 (243)

466,330 386,189 (80,141) 197,849 167,676 (30,173) - 1,302,203 1,182,262 (119,941)

(466,330) (375,711) 90,619 (196,349) (169,805) 26,544 - 76,717 234,471 157,754

466,330 375,672 (90,658) - - - (375,672) 466,330 - (466,330)

- - - - - - 375,672 (655,115) - 655,115

466,330 375,672 (90,658) - - - - (188,785) - 188,785

-$ (39) (39)$ (196,349)$ (169,805) 26,544$ -$ (112,068)$ 234,471 346,539$

18,019 191,115 2,315,915

17,980$ 21,310$ 2,550,386$

Corporate Parks Public Liability Insurance Total


Variance

Final Over

Budget Actual (Under)

EXPENDITURES

Current

General government

Administration

Salaries

Director of Parks and Recreation 70,968$ 71,597$ 629$

Superintendent of Finance and Technology 27,147 28,026 879

Human Resource Manager 34,329 36,215 1,886

Finance Coordinators 49,660 56,672 7,012

Marketing Coordinator 12,000 11,619 (381)

Total salaries 194,104 204,129 10,025

Benefits

Health insurance 43,000 39,406 (3,594)

Life/dental insurance 1,000 915 (85)

Employee benefit program 1,500 736 (764)

Total benefits 45,500 41,057 (4,443)

Contractual services

Maintenance service equipment 2,000 3,355 1,355

IT - network services 15,000 5,319 (9,681)

Legal 23,000 28,273 5,273

Recruitment 500 500 -

Maintenance agreement 3,000 2,008 (992)

Professional consulting 10,000 7,500 (2,500)

Total contractual services 53,500 46,955 (6,545)

Communications

Postage 2,500 2,676 176

Telephone 8,500 5,955 (2,545)

Printing and brochures 3,000 2,632 (368)

Preprint design and promotion 2,000 2,405 405

Publications and legal notices 1,000 391 (609)

Total communications 17,000 14,059 (2,941)



SCHEDULE OF DETAILED EXPENDITURES - BUDGET AND ACTUAL



GENERAL (CORPORATE) SUBFUND


Variance

Final Over



Current (Continued)

General government (Continued)

Administration (Continued)

Professional development

Travel 500$ 1,473$ 973$

Employee training 2,500 1,531 (969)

Tuition reimbursement 500 130 (370)

Memberships/subscriptions 10,000 13,256 3,256

Conference/seminar 3,000 7,984 4,984

Total professional development 16,500 24,374 7,874

General supplies

Office supplies 3,500 4,402 902

Application software 1,500 1,519 19

Total general supplies 5,000 5,921 921

Other expenditures

Public relations 1,500 3,473 1,973

Miscellaneous 2,000 1,491 (509)

Total other expenditures 3,500 4,964 1,464

Total administration 335,104 341,459 6,355

Capital outlay 3,000 2,757 (243)

TOTAL EXPENDITURES 338,104$ 344,216$ 6,112$



SCHEDULE OF DETAILED EXPENDITURES - BUDGET AND ACTUAL (Continued)


GENERAL (CORPORATE) SUBFUND



Variance

Final Over


EXPENDITURES

Current



Salaries

Centre Manager 51,300$ 52,761$ 1,461$

Superintendent of Finance 27,120 27,499 379

Centre staff - building 6,000 7,711 1,711

Registrars/secretarial 30,000 30,288 288

Aerobics 8,800 8,948 148

Bar staff 7,500 6,058 (1,442)

Wait staff 9,300 8,508 (792)

Total salaries 140,020 141,773 1,753

Benefits


Life/dental insurance 200 165 (35)

Employee benefit program 800 678 (122)

Total benefits 7,000 5,753 (1,247)


Building repairs 6,500 4,851 (1,649)

Maintenance service - equipment 3,000 3,085 85

Equipment repairs 500 - (500)

Carpet cleaning 2,000 2,310 310

Operating licenses 2,250 2,250 -


Communications

Postage 100 - (100)

Telephone 4,800 6,194 1,394

Printing and brochures 2,100 1,966 (134)

Preprint design and production 1,400 1,971 571

Total communications 8,400 10,131 1,731


Employee training 450 40 (410)

Tuition Reimbursement - 90 90

Membership/subscriptions 50 48 (2)

Conference/seminar 250 - (250)

Total professional development 750 178 (572)






NORTH PARK SUBFUND


Variance

Final Over



Current (Continued)

Culture and recreation (Continued)

Centre at North Park (Continued)

Service charges

Utilities - electric 25,000$ 24,914$ (86)$

Utilities - gas 12,000 8,170 (3,830)

Utilities - water 4,500 2,140 (2,360)

Garbage disposal 3,800 4,787 987

Bank charges 500 986 486

Total service charges 45,800 40,997 (4,803)

Maintenance supplies

Supplies - building 3,000 731 (2,269)

Supplies - banquet/bar - 537 537

Total maintenance supplies 3,000 1,268 (1,732)

General supplies

Supplies - office 200 164 (36)

Supplies - computer 200 - (200)

Supplies - linens 6,000 5,185 (815)

Supplies - food/banquet - 44,737 44,737

Supplies - bar/banquet 62,000 10,450 (51,550)

Supplies - concession 250 194 (56)

Program supplies 50 - (50)

Total general supplies 68,700 60,730 (7,970)

Other expenditures

Sales tax - vending 12,000 10,855 (1,145)

Total other expenditures 12,000 10,855 (1,145)

TOTAL EXPENDITURES 299,920$ 284,181$ (15,739)$





NORTH PARK SUBFUND



Variance

Final Over


EXPENDITURES

Current

General government

Corporate parks

Salaries

Superintendent of Parks and Planning 24,299$ 21,830$ (2,469)$

Park services staff 139,045 98,181 (40,864)

Corporate services assistant 16,900 - (16,900)

Salaries - regular 40,000 68,742 28,742

Salaries - part-time/temporary 15,415 11,822 (3,593)

Salaries - seasonal labor - 10,487 10,487

Overtime 7,000 5,203 (1,797)

Total salaries 242,659 216,265 (26,394)

Benefits

Uniforms - 1,426 1,426


Life/dental insurance 800 542 (258)

Uniforms 2,131 - (2,131)


Total benefits 43,931 21,993 (21,938)



Maintenance service - equipment - 360 360

Equipment repairs 9,540 10,726 1,186

HVAC equipment repairs 400 465 65

Vehicle (fleet) maintenance 14,480 14,430 (50)

Parks improvement repairs 6,250 3,202 (3,048)

Park lighting repairs 7,600 4,544 (3,056)

Horticulture services 9,730 10,450 720

Vandalism repairs 3,000 1,276 (1,724)

Equipment rental 2,500 1,098 (1,402)

Operating licenses 200 - (200)


Communications

Telephone 4,500 4,540 40

Total communications 4,500 4,540 40

CORPORATE PARKS SUBFUND







Variance

Final Over



Current (Continued)

General government (Continued)

Corporate parks (Continued)


Travel 550$ 35$ (515)$

Employee training 1,850 690 (1,160)

Memberships/subscriptions 220 161 (59)

Conference/seminar 150 89 (61)

Total professional development 2,770 975 (1,795)

Service charges

Utilities - electric 3,500 3,178 (322)

Utilities - gas 15,000 8,926 (6,074)

Utilities - water 700 550 (150)

Garbage disposal 10,750 7,129 (3,621)



Supplies - building 2,300 3,105 805

Supplies - janitorial 1,775 736 (1,039)

Supplies - athletic field 10,650 7,016 (3,634)

Supplies - parks maintenance 10,500 7,220 (3,280)

Supplies- liability 14,590 12,677 (1,913)

Supplies - special events 700 460 (240)

Parts - equipment 3,405 2,904 (501)

Parts - automotive 1,500 817 (683)

Parts - playground equipment 5,100 3,864 (1,236)


General supplies

Supplies - office 1,000 721 (279)

Supplies - computer 1,000 - (1,000)

Supplies - operating 400 11 (389)

Tools 2,800 3,716 916

Automotive and fuel 15,000 18,705 3,705

Horticultural 9,600 9,479 (121)

Flowers 1,750 57 (1,693)

Fertilizer 1,000 667 (333)

Total general supplies 32,550 33,356 806






CORPORATE PARKS SUBFUND



Variance

Final Over


EXPENDITURES

Current

General government

Administration

Salaries

Superintendent of Parks and Planning 48,534$ 43,647$ (4,887)$

Superintendent of Recreation 22,165 22,673 508

Total salaries 70,699 66,320 (4,379)

Benefits


Unemployment insurance 5,000 - (5,000)

Workers' compensation 25,000 24,812 (188)

Safety gear 5,000 3,473 (1,527)

Total benefits 47,650 34,908 (12,742)


Maintenance service equipment 20,000 15,671 (4,329)

Employee background checks 500 500 -

Public liability insurance 24,000 18,733 (5,267)

Property insurance 22,000 22,411 411



Employee training 12,000 8,363 (3,637)

Total professional development 12,000 8,363 (3,637)

Other expenditures

Pollution liability 1,000 770 (230)

Total other expenditures 1,000 770 (230)



PUBLIC LIABILITY INSURANCE SUBFUND








Variance

Final Over


REVENUES

Taxes

Property taxes

Current 460,000$ 497,950$ 37,950$

Prior years - (2,936) (2,936)

Total taxes 460,000 495,014 35,014


Program revenue

Swim lessons 17,910 16,199 (1,711)

Classes 90,810 157,571 66,761

Daycamp 123,245 117,884 (5,361)

Athletics 54,320 52,011 (2,309)

Passes 31,000 27,418 (3,582)

Teens 1,905 3,318 1,413

Intergovernmental events 200 875 675

Trips 10,560 2,765 (7,795)

Special events 13,435 17,123 3,688

Total program revenue 343,385 395,164 51,779

Pool revenue

Swim lessons 16,145 16,417 272

New programs 1,500 1,639 139

Swim team 1,700 - (1,700)

Admissions 56,000 62,486 6,486

Pool pass 30,000 37,340 7,340

Rentals 9,750 7,228 (2,522)

Locker 1,000 291 (709)

Food resale 25,000 30,375 5,375

Total pool revenue 141,095 155,776 14,681

Rentals

Equipment - 212 212

Building 35,000 32,156 (2,844)

Total rentals 35,000 32,368 (2,632)

Concession/vending 1,000 1,034 34

Total charges for services 520,480 584,342 63,862

Investment income 100 85 (15)

Miscellaneous 500 57 (443)

Total revenues 981,080 1,079,498 98,418




RECREATION FUND




Variance

Final Over


EXPENDITURES

Current


Recreation department

Salaries 368,093$ 399,133$ 31,040$

Benefits 22,723 19,824 (2,899)

Skilled labor 63,403 50,395 (13,008)

Contractual services 15,800 18,154 2,354

Communications 45,500 41,012 (4,488)

Professional development 7,500 6,053 (1,447)

Service charges 69,000 64,597 (4,403)

Maintenance supplies 9,000 8,263 (737)

General supplies 44,851 52,441 7,590

Capital 2,000 2,182 182

Other expenditures 4,000 5,096 1,096

Total recreation department 651,870 667,150 15,280

Pool

Salaries 100,280 101,260 980

Benefits 3,365 3,629 264

Contractual services 4,500 7,354 2,854

Communications 1,700 1,206 (494)

Service charges 17,700 25,522 7,822

Maintenance supplies 1,000 1,136 136

General supplies 23,750 30,729 6,979

Other expenditures 3,000 1,419 (1,581)

Total pool 155,295 172,255 16,960

Total expenditures 807,165 839,405 32,240




Transfers (out) (14,200) - 14,200

Total other financing sources (uses) (14,200) - 14,200

NET CHANGE IN FUND BALANCE 159,715$ 240,093 80,378$




CHANGES IN FUND BALANCE - BUDGET AND ACTUAL (Continued)

RECREATION FUND





Variance

Final Over


EXPENDITURES

Current


Recreation department

Salaries

Superintendent of Recreation 44,330$ 45,347$ 1,017$

Athletic Supervisor 43,603 45,039 1,436

Recreation Supervisors 43,603 45,039 1,436


Registrars/secretarial 25,000 16,161 (8,839)

Salaries - part-time 6,000 5,952 (48)

Center staff - Community Center 33,189 33,920 731

Maintenance - Community Center 15,000 19,013 4,013

Fitness center 2,025 2,251 226

Kindergarten enrichment 5,000 16,905 11,905

Micro football - 193 193

Intergovernmental events 660 1,456 796

Classes 46,520 61,200 14,680

Athletics 16,767 14,513 (2,254)

Special events 2,610 3,922 1,312

Trips 792 - (792)

Day camp 59,950 65,865 5,915

Tot camp 1,520 555 (965)

Teens 524 936 412

Lifeguards 9,000 9,585 585

Total salaries 368,093 399,133 31,040

Benefits

Health insurance 17,623 16,839 (784)

Life/dental insurance 1,000 524 (476)

Uniforms 2,500 1,463 (1,037)

Automobile allowance 100 262 162


Total benefits 22,723 19,824 (2,899)

Skilled labor

Skilled labor - programs 63,403 50,395 (13,008)

Total skilled labor 63,403 50,395 (13,008)


RECREATION FUND





Variance

Final Over



Current (Continued)


Recreation department (Continued)


Building repairs 5,500$ 9,428$ 3,928$

Maintenance service - equipment 7,000 6,914 (86)

Equipment repairs - 12 12

Horticulture services 1,800 1,800 -

Equipment rental 1,500 - (1,500)

Total contractual services 15,800 18,154 2,354

Communications

Postage 8,000 10,359 2,359

Telephone 4,500 4,815 315

Printing and brochures 19,000 16,900 (2,100)

Preprint design/production 9,000 7,770 (1,230)

Marketing and website consultant 5,000 1,168 (3,832)

Total communications 45,500 41,012 (4,488)


Travel (air, auto) 500 - (500)

Tuition reimbursement 2,000 - (2,000)

Employee training 1,500 705 (795)

Membership/subscriptions 2,000 2,766 766



Service charges

Utilities - electric 38,000 36,886 (1,114)

Utilities - gas 12,000 6,939 (5,061)

Utilities - water 12,500 13,699 1,199


Bank charges 4,000 4,520 520


RECREATION FUND






Variance

Final Over


RECREATION FUND




Current (Continued)


Recreation department (Continued)


Supplies - building 3,000$ 2,873$ (127)$

Supplies - janitorial 6,000 5,390 (610)

Total maintenance supplies 9,000 8,263 (737)

General supplies

Supplies - office 3,000 5,495 2,495

Automotive - fuel and oil 500 563 63

Program supplies 41,351 46,383 5,032

Total general supplies 44,851 52,441 7,590

Capital

Computer equipment 2,000 2,182 182

Total capital 2,000 2,182 182

Other expenditures

Public relations 4,000 5,096 1,096

Total other expenditures 4,000 5,096 1,096

Total recreation department 651,870 667,150 15,280

Pool

Salaries

Manager 14,480 12,978 (1,502)

Attendant 9,743 14,873 5,130

Program staff instructors 7,000 6,309 (691)

Cashier - part-time 6,394 4,394 (2,000)

Concession 5,981 2,972 (3,009)

Pool rental salaries 3,113 2,964 (149)

Lifeguards 52,569 56,280 3,711

Swim team 1,000 490 (510)

Total salaries 100,280 101,260 980




Variance

Final Over


RECREATION FUND




Current (Continued)


Pool (Continued)

Benefits

Uniforms 3,365$ 3,629$ 264$

Total benefits 3,365 3,629 264


Building repairs 3,500 6,439 2,939

Equipment repairs 1,000 915 (85)

Total contractual services 4,500 7,354 2,854

Communications

Telephone 1,700 1,206 (494)

Total communications 1,700 1,206 (494)

Service charges

Utilities - electric 5,000 12,514 7,514

Utilities - gas 8,000 7,722 (278)

Utilities - water 4,200 4,633 433

Garbage disposal 500 653 153

Total service charges 17,700 25,522 7,822


Maintenance supplies 1,000 1,136 136

Total maintenance supplies 1,000 1,136 136

General supplies

Supplies - office 500 712 212

Supplies - operating 1,000 980 (20)

Supplies - pool chemicals 10,000 14,662 4,662

Supplies - concessions 10,000 13,413 3,413

Program supplies 2,250 962 (1,288)

Total general supplies 23,750 30,729 6,979




Variance

Final Over


RECREATION FUND




Current (Continued)


Pool (Continued)

Other expenditures

Public relations 1,000$ 44$ (956)$

Sales tax - vending 2,000 1,375 (625)

Total other expenditures 3,000 1,419 (1,581)

Total pool 155,295 172,255 16,960

TOTAL EXPENDITURES 807,165$ 839,405$ 32,240$




Variance

Final Over


REVENUES

Property taxes

Current 903,620$ 954,660$ 51,040$

Prior years - (9,715) (9,715)

Investment income 1,000 122 (878)

Total revenues 904,620 945,067 40,447

EXPENDITURES

Debt service

Principal repayment 885,000 885,000 -

Interest expense 18,620 17,963 (657)

Total expenditures 903,620 902,963 (657)

NET CHANGE IN FUND BALANCE 1,000$ 42,104 41,104$






GENERAL DEBT SERVICE FUND








Variance

Final Over


REVENUES

None -$ -$ -$

Total revenues - - -

EXPENDITURES

Capital outlay - 67,686 67,686

Total expenditures - 67,686 67,686


OVER EXPENDITURES - (67,686) (67,686)


Bond proceeds, at par - 905,000 905,000

Premium on bonds issued - 3,267 3,267

Total other financing sources (uses) - 908,267 908,267

NET CHANGE IN FUND BALANCE -$ 840,581 840,581$

FUND BALANCE, MAY 1 -



Capital

Projects

Municipal Social Special 2010 Capital

Retirement Security Audit Recreation Projects Total

Cash and investments 50,185$ 43,287$ 38,105$ 266,631$ 682,130$ 1,080,338$



Property taxes receivable 47,617 75,856 10,243 66,443 - 200,159

TOTAL ASSETS 97,802$ 119,143$ 48,348$ 333,074$ 682,130$ 1,280,497$

LIABILITIES

Accounts payable 9,430$ -$ -$ -$ -$ 9,430$

Deferred property tax revenue 47,617 75,856 10,243 66,443 - 200,159

Total liabilities 57,047 75,856 10,243 66,443 - 209,589

FUND BALANCES

Restricted

Employee retirement 40,755 43,287 - - - 84,042

Special purposes - - 38,105 - - 38,105

Special recreation - - - 266,631 - 266,631

Construction and development - - - - 682,130 682,130

Total fund balances 40,755 43,287 38,105 266,631 682,130 1,070,908


FUND BALANCES 97,802$ 119,143$ 48,348$ 333,074$ 682,130$ 1,280,497$

LIABILITIES AND FUND BALANCES

ASSETS

April 30, 2012

Special Revenue



COMBINING BALANCE SHEET



Capital

Projects

Municipal Social Special 2010 Capital

Retirement Security Audit Recreation Projects Total

REVENUES

Taxes 119,458$ 142,906$ 17,376$ 105,645$ -$ 385,385$

Investment income 10 15 6 52 103 186

Miscellaneous income - - - - 12,500 12,500

Total revenues 119,468 142,921 17,382 105,697 12,603 398,071

EXPENDITURES

Current

General government 33,328 38,152 19,493 - - 90,973

Culture and recreation 43,211 48,540 - 174,142 - 265,893

Capital outlay - - - - 252,962 252,962

Total expenditures 76,539 86,692 19,493 174,142 252,962 609,828


OVER EXPENDITURES 42,929 56,229 (2,111) (68,445) (240,359) (211,757)


Transfers (out) (44,187) (49,569) - - - (93,756)

Total other financing sources (uses) (44,187) (49,569) - - - (93,756)

NET CHANGE IN FUND BALANCES (1,258) 6,660 (2,111) (68,445) (240,359) (305,513)

FUND BALANCES, MAY 1 42,013 36,627 40,216 335,076 922,489 1,376,421

FUND BALANCES, APRIL 30 40,755$ 43,287$ 38,105$ 266,631$ 682,130$ 1,070,908$

CHANGES IN FUND BALANCES



Special Revenue



COMBINING STATEMENT OF REVENUES, EXPENDITURES AND




Variance

Final Over


REVENUES

Property taxes

Current 60,000$ 79,789$ 19,789$

Prior years - (331) (331)

Replacement taxes 40,000 40,000 -


Total revenues 100,100 119,468 19,368

EXPENDITURES

Current

General government


IMRF 33,328 33,328 -



IMRF 41,672 43,211 1,539





Transfers (out) (50,000) (44,187) 5,813

NET CHANGE IN FUND BALANCE (24,900)$ (1,258) 23,642$






MUNICIPAL RETIREMENT FUND




Variance

Final Over


REVENUES

Property taxes

Current 117,000$ 129,008$ 12,008$

Prior years - (1,102) (1,102)

Replacement taxes 15,000 15,000 -

Total taxes 132,000 142,906 10,906

Investment income - 15 15

Total revenues 132,000 142,921 10,921

EXPENDITURES

Current

General government


FICA 38,152 38,152 -



FICA 46,348 48,540 2,192





Transfers (out) (47,500) (49,569) (2,069)

NET CHANGE IN FUND BALANCE -$ 6,660 6,660$






SOCIAL SECURITY FUND




Variance

Final Over


REVENUES

Property taxes

Current 17,900$ 17,517$ (383)$

Prior years - (141) (141)


Total revenues 18,000 17,382 (618)

EXPENDITURES

Current

General government


Auditing services 19,373 19,493 120

Total expenditures 19,373 19,493 120

NET CHANGE IN FUND BALANCE (1,373)$ (2,111) (738)$






AUDIT FUND




Variance

Final Over


REVENUES

Property taxes

Current 120,000$ 108,054$ (11,946)$

Prior years - (2,409) (2,409)


Total revenues 120,500 105,697 (14,803)

EXPENDITURES

Current



West Suburban Special

Recreation Association 168,000 174,142 6,142


NET CHANGE IN FUND BALANCE (47,500)$ (68,445) (20,945)$






SPECIAL RECREATION FUND








Variance

Final Over


REVENUES

Investment income -$ 103$ 103$

Miscellaneous income - 12,500 12,500

Total revenues - 12,603 12,603

EXPENDITURES

Capital outlay 2,040,875 252,962 (1,787,913)

Total expenditures 2,040,875 252,962 (1,787,913)


OVER EXPENDITURES (2,040,875) (240,359) 1,800,516


Bond proceeds, at par 895,000 - (895,000)

Transfers in 200,000 - (200,000)

Total other financing sources (uses) 1,095,000 - (1,095,000)

NET CHANGE IN FUND BALANCE (945,875)$ (240,359) 705,516$




ENTERPRISE FUND

The Ice Arena Fund is the enterprise fund of the District. It is used to account for the revenue

and expense associated with the operation of the Park District of Franklin Park Ice Arena.



SCHEDULE OF REVENUES, EXPENSES AND

CHANGES IN NET ASSETS - BUDGET AND ACTUAL

ICE ARENA FUND


Variance

Final Over


OPERATING REVENUE

Program revenue

Lessons 163,500$ 162,661$ (839)$

Hockey 421,549 381,506 (40,043)

Freestyle 32,000 37,281 5,281

Fusion 2,000 2,026 26

Admissions 85,000 69,781 (15,219)

Ice show receipts 14,655 11,498 (3,157)

Figure skating 18,675 18,474 (201)

Hockey tournaments 8,100 2,755 (5,345)

Youth hockey camp/clinics 39,686 52,258 12,572

Open hockey 16,000 15,443 (557)

Special events 3,800 2,607 (1,193)

Precision program 31,630 37,126 5,496

Total program revenue 836,595 793,416 (43,179)

Rentals

Facility 361,500 330,524 (30,976)

Skates 30,000 29,300 (700)

Total rentals 391,500 359,824 (31,676)

Other revenue

Food resale 50,000 41,873 (8,127)

Vending 46,500 46,100 (400)

Skate sharpening 1,350 910 (440)

Pro shop 6,500 6,370 (130)

Locker - 197 197

Ice show costumes 31,350 35,574 4,224

Advertising fees 2,550 3,400 850

Miscellaneous 3,000 1,202 (1,798)

Total other revenue 141,250 135,626 (5,624)

Total operating revenue 1,369,345 1,288,866 (80,479)




SCHEDULE OF REVENUES, EXPENSES AND

CHANGES IN NET ASSETS - BUDGET AND ACTUAL (Continued)

ICE ARENA FUND


Variance

Final Over


OPERATING EXPENSES

Operating

Salaries $ 672,164 $ 667,578 $ (4,586)

Benefits 166,804 150,796 (16,008)

Skilled labor 2,000 1,276 (724)

Contractual services 34,050 31,972 (2,078)

Communications 23,600 25,491 1,891

Professional development 6,200 4,219 (1,981)

Service charges 197,000 163,526 (33,474)

Maintenance supplies 36,700 20,915 (15,785)

General supplies 56,100 53,403 (2,697)

Program supplies 89,817 70,674 (19,143)

Other expenses 29,915 41,489 11,574

Total operating 1,314,350 1,231,339 (83,011)

Depreciation 40,000 56,932 16,932

Total operating expenses 1,354,350 1,288,271 (66,079)

OPERATING INCOME (LOSS) 14,995 595 (14,400)

NONOPERATING REVENUE (EXPENSE)

Gain (loss) on disposal of capital assets - (6,183) (6,183)

Investment income 500 938 438

Total nonoperating revenue (expense) 500 (5,245) (5,745)

CHANGE IN NET ASSETS BEFORE

TRANSFERS AND CONTRIBUTIONS 15,495 (4,650) (20,145)

TRANSFERS IN 97,500 93,756 (3,744)

CONTRIBUTIONS - 46,456 46,456

CHANGE IN NET ASSETS $ 112,995 135,562 $ 22,567

NET ASSETS, MAY 1 2,303,721

NET ASSETS, APRIL 30 $ 2,439,283




SCHEDULE OF DETAILED EXPENSES - BUDGET AND ACTUAL

ICE ARENA FUND


Variance

Final Over


OPERATING EXPENSES

Salaries

Director of Parks and Recreation 35,491$ 34,719$ (772)$

Superintendent of Finance 27,147 27,422 275

Human Resource Manager 17,163 18,333 1,170

Part-time/temporary 10,000 8,089 (1,911)

Salaries - overtime 4,000 2,766 (1,234)


Manager - Ice Arena 71,452 74,878 3,426

Assistant managers 55,894 58,028 2,134

Skating School Director 6,000 - (6,000)

Arena Services Supervisor 40,488 43,018 2,530

Arena Secretary 39,433 39,834 401

Supervisor I 37,335 40,315 2,980

Supervisor II 35,825 35,545 (280)

Night supervisor - part-time 7,000 10,129 3,129

Maintenance Full-Time II 35,825 37,588 1,763

Assistant Supervisor/Maintenance 3,000 3,234 234

Maintenance - part-time 18,000 17,819 (181)

Cashier - part-time 30,000 30,858 858

Concession 15,000 15,189 189

Ice guards 10,000 13,834 3,834

Precision coaches 6,000 - (6,000)

Precision program - 5,120 5,120

Instructors/lessons 38,000 - (38,000)

Skate camp 16,742 10,787 (5,955)

Skating lessons 1,312 38,107 36,795

Adult hockey league 3,196 1,910 (1,286)

Ice show 9,850 7,530 (2,320)

Freestyle 7,000 7,739 739

Adult hockey league referees 21,861 11,200 (10,661)

Youth hockey league 6,400 6,264 (136)

Panther Paws 11,635 7,892 (3,743)

Youth hockey camp/clinic 7,923 10,464 2,541

Youth hockey league referees 11,717 16,388 4,671

Youth hockey tournament 300 - (300)

Figure skating competition 1,300 227 (1,073)

Hockey program coordinator - part-time 3,000 2,580 (420)

Assistant Skating Supervisor 2,000 2,210 210

Figure skating coordinators 12,875 16,124 3,249

Special event staffing - 26 26

Total salaries 672,164 667,578 (4,586)




SCHEDULE OF DETAILED EXPENSES - BUDGET AND ACTUAL (Continued)

ICE ARENA FUND


Variance

Final Over


OPERATING EXPENSES (Continued)

Benefits

Health insurance 65,004$ 52,352$ (12,652)$

Life/dental insurance 1,000 1,072 72

FICA 47,500 49,569 2,069

IMRF 50,000 44,187 (5,813)

Uniforms 2,000 2,411 411

Automobile allowance 550 469 (81)

Employee benefit program 750 736 (14)

Total benefits 166,804 150,796 (16,008)

Skilled labor

Skilled labor 2,000 1,276 (724)

Total skilled labor 2,000 1,276 (724)



Maintenance service/equipment 4,000 4,539 539

Equipment repairs 1,000 172 (828)

Heating A/C equipment repair 18,000 19,967 1,967

Zamboni repair 1,600 1,125 (475)

Knife sharpening 1,000 1,055 55

Carpet cleaning 150 125 (25)

Maintenance service contracts 5,000 3,976 (1,024)

Recruitment - personnel 300 - (300)


Communications

Postage 3,500 3,235 (265)

Telephone 6,300 5,402 (898)

Printing and brochures 8,500 11,714 3,214

Preprint design and production 5,200 5,140 (60)

Publications and legal notice 100 - (100)

Total communications 23,600 25,491 1,891


Travel 1,000 281 (719)

Employee training 1,000 100 (900)

Tuition reimbursement 1,000 90 (910)

Memberships/subscriptions 1,200 718 (482)







ICE ARENA FUND


Variance

Final Over



Service charges

Utilities - electric 135,000$ 117,227$ (17,773)$

Utilities - gas 40,000 23,675 (16,325)

Utilities - water 10,000 10,169 169


Bank charges 10,000 9,972 (28)



Supplies - building 4,000 2,926 (1,074)

Supplies - heating 1,000 1,393 393

Supplies - rink proper 4,000 3,611 (389)

Supplies - wood stove 1,300 958 (342)

Materials - vandalism replacement 500 65 (435)

Maintenance supplies 3,000 2,883 (117)

Parts - electrical 600 635 35

Parts - equipment 500 544 44

Parts - compressors 18,000 6,875 (11,125)

Parts - zamboni 3,800 1,025 (2,775)


General supplies

Office supplies 3,500 3,317 (183)

Computer supplies 4,000 4,675 675

Operating supplies 2,000 848 (1,152)

Rental skates 2,000 2,255 255

Tools 600 67 (533)

Concession supplies 22,000 19,173 (2,827)

Vending supplies 9,000 9,524 524

Vending supplies - Coke products 13,000 13,544 544

Total general supplies 56,100 53,403 (2,697)

Program supplies

General - 653 653

Adult hockey league 2,300 400 (1,900)

Panther spring league 5,265 7,044 1,779

Panther fall league 37,495 37,868 373

Figure skating competitions 5,800 6,099 299

Ice show 25,150 68 (25,082)

Skate camp 2,200 1,599 (601)

Youth hockey camp/clinics 800 538 (262)

Precision program 3,368 5,095 1,727

Youth hockey tournaments 384 428 44





ICE ARENA FUND


Variance

Final Over



Program supplies (Continued)

Skating lessons 800$ 1,922$ 1,122$

Panther Paws 1,530 2,031 501

Everyone skate 500 - (500)

Skate club 1,500 3,312 1,812

Special events 400 240 (160)

Special needs competition 2,325 3,377 1,052

Total program supplies 89,817 70,674 (19,143)

Other expenses

Public relations 2,000 1,528 (472)

Hockey league - AHAI Adult/Youth 4,415 240 (4,175)

Youth hockey league NWHL tournament 17,000 13,775 (3,225)

Ice show expense - 20,796 20,796

Miscellaneous 1,000 51 (949)

Sales tax - vending 5,500 5,099 (401)

Total other expenses 29,915 41,489 11,574

TOTAL OPERATING EXPENSES $ 1,314,350 $ 1,231,339 $ (83,011)


SUPPLEMENTAL SCHEDULES



SCHEDULE OF GENERAL CAPITAL ASSETS

April 30, 2012

Balances Balances

May 1 Additions Deletions April 30

Land 5,127,806$ -$ -$ 5,127,806$

Construction in progress 7,288 30,445 7,288 30,445

Land improvements 5,160,930 239,402 5,750 5,394,582

Buildings 5,492,289 - - 5,492,289

Equipment 1,438,410 13,984 3,000 1,449,394

Motor vehicles 218,071 30,334 - 248,405

TOTAL 17,444,794$ 314,165$ 16,038$ 17,742,921$




FUTURE PRINCIPAL AND INTEREST REQUIREMENTS

Fiscal

Year Principal Interest Totals

2013 905,000$ 17,698$ 922,698$

Total 905,000$ 17,698$ 922,698$

Interest rates 2.00%

Bond maturity

Interest payment date May 1 and November 1

Purpose To fund park improvements

Paying agent DBC Finance

SCHEDULE OF GENERAL OBLIGATION BONDS

AND INTEREST PAYABLE - SERIES 2011

April 30, 2012

November 1, 2012


STATISTICAL SECTION

This part of the District’s comprehensive annual financial report presents detailed information as

a context for understanding what the information in the financial statements, note disclosures and

required supplementary information displays about the District’s overall financial health.

Contents Page(s)

Financial Trends

These schedules contain trend information to help the reader understand

how the District’s financial performance and well-being have been

changed over time.

75-82

Revenue Capacity

These schedules contain information to help the reader assess the District’s

most significant local revenue source, the property tax.

83-86

Debt Capacity

These schedules present information to help the reader assess the

affordability of the District’s current levels of outstanding debt and the

District’s ability to issue additional debt in the future.

87-90

Demographic and Economic Information

These schedules offer demographic and economic indicators to help the

reader understand the environment within which the District’s financial

activities take place.

91-92

Operating Information

These schedules contain service and infrastructure data to help the reader

understand how the information in the District’s financial report relates to

the services the District provides and the activities it performs.

93-96

Sources: Unless otherwise noted, the information in these schedules is derived from the

comprehensive annual financial reports for the relevant year. The District implemented GASB

Statement No. 34 in 2005; schedules presenting government-wide information include

information beginning in that year.



NET ASSETS BY COMPONENT

Last Eight Fiscal Years

Fiscal Year 2005 2006 2007 2008 2009 2010 2011 2012

GOVERNMENTAL ACTIVITIES

Invested in capital assets

net of related debt 8,233,907$ 8,895,821$ 9,298,414$ 10,358,640$ 10,734,406$ 12,042,054$ 12,134,638$ 12,622,181$

Restricted 1,528,548 1,725,471 1,929,682 2,398,263 1,566,845 1,639,297 1,767,492 1,590,507

Unrestricted 635,544 1,008,978 1,486,120 1,227,528 2,496,064 2,554,259 2,671,078 3,283,033

TOTAL GOVERNMENTAL ACTIVITIES 10,397,999$ 11,630,270$ 12,714,216$ 13,984,431$ 14,797,315$ 16,235,610$ 16,573,208$ 17,495,721$



net of related debt 833,826$ 818,123$ 797,096$ 792,710$ 754,744$ 751,526$ 1,206,293$ 1,189,634$

Restricted - - - - - - - -

Unrestricted 465,492 604,640 735,549 859,600 898,743 981,496 1,097,428 1,249,649

TOTAL BUSINESS-TYPE ACTIVITIES 1,299,318$ 1,422,763$ 1,532,645$ 1,652,310$ 1,653,487$ 1,733,022$ 2,303,721$ 2,439,283$

PRIMARY GOVERNMENT


net of related debt 9,067,733$ 9,713,944$ 10,095,510$ 11,151,350$ 11,489,150$ 12,793,580$ 13,340,931$ 13,811,815$

Restricted 1,528,548 1,725,471 1,929,682 2,398,263 1,566,845 1,639,297 1,767,492 1,590,507

Unrestricted 1,101,036 1,613,618 2,221,669 2,087,128 3,394,807 3,535,755 3,768,506 4,532,682

TOTAL PRIMARY GOVERNMENT 11,697,317$ 13,053,033$ 14,246,861$ 15,636,741$ 16,450,802$ 17,968,632$ 18,876,929$ 19,935,004$

Note: The District implemented GASB Statement No. 34 for the year ended April 30, 2005.

(Accrual Basis of Accounting)

- 75 -

Fiscal Year 2005 2006 2007 2008

EXPENSES

Governmental activities

General government 413,747$ 973,366$ 1,016,861$ 1,039,434$

Culture and recreation 1,803,956 1,392,817 1,475,936 1,568,730

Interest 82,432 81,601 82,791 45,691

Total governmental activities expenses 2,300,135 2,447,784 2,575,588 2,653,855

Business-type activities

Ice Arena 1,095,635 1,127,002 1,162,184 1,158,801

Total business-type activities expenses 1,095,635 1,127,002 1,162,184 1,158,801

TOTAL PRIMARY GOVERNMENT EXPENSES 3,395,770$ 3,574,786$ 3,737,772$ 3,812,656$

PROGRAM REVENUES


Charges for services 664,366$ 765,657$ 757,973$ 768,475$

Operating grants and contributions - - - -

Capital grants and contributions 76,500 195,448 26,437 205,217

Total governmental activities program revenues 740,866 961,105 784,410 973,692


Ice Arena 1,044,849 1,150,024 1,151,436 1,139,462

Capital grants and contributions - - 20,335 39,219

Total business-type activities program revenues 1,044,849 1,150,024 1,171,771 1,178,681

TOTAL PRIMARY GOVERNMENT

PROGRAM ACTIVITIES 1,785,715$ 2,111,129$ 1,956,181$ 2,152,373$

NET (EXPENSE) REVENUE

Governmental activities (1,559,269)$ (1,486,679)$ (1,791,178)$ (1,680,163)$

Business-type activities (50,786) 23,022 9,587 19,880


NET (EXPENSE) REVENUE (1,610,055)$ (1,463,657)$ (1,781,591)$ (1,660,283)$




CHANGE IN NET ASSETS


- 76 -

2009 2010 2011 2012

1,100,755$ 1,127,702$ 1,117,160$ 1,219,883$

1,517,310 1,471,463 1,610,006 1,565,994

64,130 56,127 36,944 37,223

2,682,195 2,655,292 2,764,110 2,823,100

1,173,486 1,214,719 1,267,982 1,294,454

1,173,486 1,214,719 1,267,982 1,294,454

3,855,681$ 3,870,011$ 4,032,092$ 4,117,554$

695,444$ 659,974$ 800,032$ 857,858$

- - - 10,478

- 400,000 - -

695,444 1,059,974 800,032 868,336

1,097,510 1,184,605 1,247,384 1,288,866

3,950 487,729 43,858 46,456

1,101,460 1,672,334 1,291,242 1,335,322

1,796,904$ 2,732,308$ 2,091,274$ 2,203,658$

(1,986,751)$ (1,595,318)$ (1,964,078)$ (1,954,764)$

(72,026) 457,615 23,260 40,868

(2,058,777)$ (1,137,703)$ (1,940,818)$ (1,913,896)$

- 77 -

Fiscal Year 2005 2006 2007 2008

GENERAL REVENUES AND OTHER

CHANGES IN NET ASSETS


Taxes 2,534,576$ 2,687,532$ 2,805,474$ 2,883,044$

Investment income 29,928 83,950 137,023 134,850

Miscellaneous 3,055 (52,532) (67,373) (67,516)

Transfers - - - -

Total governmental activities 2,567,559 2,718,950 2,875,124 2,950,378


Investment income 7,210 19,793 33,328 33,722

Miscellaneous - - - -

Transfers 3,890 80,630 66,967 66,063

Total business-type activities 11,100 100,423 100,295 99,785

TOTAL PRIMARY GOVERNMENT 2,578,659$ 2,819,373$ 2,975,419$ 3,050,163$

CHANGE IN NET ASSETS

Governmental 1,008,290$ 1,232,271$ 1,083,946$ 1,270,215$

Business-type (39,686) 123,445 109,882 119,665

968,604 1,355,716 1,193,828 1,389,880

Net assets, May 1

Governmental activities 9,389,709 10,397,999 11,630,270 12,714,216

Business-type activities 1,365,887 1,299,318 1,422,763 1,532,645

Net assets, May 1 10,755,596 11,697,317 13,053,033 14,246,861

Prior period adjustment

Prior period adjustment governmental activities - - - -

Prior period adjustment business-type activities (26,883) - - -

Total prior period adjustment (26,883) - - -

Net assets, May restated

Governmental activities 9,389,709 10,397,999 11,630,270 12,714,216

Business-type activities 1,339,004 1,299,318 1,422,763 1,532,645

Net assets, May restated 10,728,713 11,697,317 13,053,033 14,246,861


NET ASSETS, APRIL 30 11,697,317$ 13,053,033$ 14,246,861$ 15,636,741$

Note: The District implemented GASB Statement No. 34 for the year ended April 30, 2005.

Data Source

Audited Financial Statements



CHANGE IN NET ASSETS (Continued)



- 78 -

2009 2010 2011 2012

2,827,491$ 3,099,316$ 2,838,542$ 2,953,371$

56,765 5,017 5,784 2,291

(68,621) 3,695 2,267 15,371

- (74,415) (88,379) (93,756)

2,815,635 3,033,613 2,758,214 2,877,277

10,964 1,043 2,522 938

- - - -

65,239 74,415 88,379 93,756

76,203 75,458 90,901 94,694

2,891,838$ 3,109,071$ 2,849,115$ 2,971,971$

828,884$ 1,438,295$ 794,136$ 922,513$

4,177 533,073 114,161 135,562

833,061 1,971,368 908,297 1,058,075

13,984,431 14,797,315 16,235,610 16,573,208

1,652,310 1,656,487 1,733,022 2,303,721

15,636,741 16,453,802 17,968,632 18,876,929

(16,000) - (456,538) -

- - 456,538 -

(16,000) - - -

13,968,431 14,797,315 15,779,072 16,573,208

1,652,310 1,656,487 2,189,560 2,303,721

15,620,741 16,453,802 17,968,632 18,876,929

16,453,802$ 18,425,170$ 18,876,929$ 19,935,004$

- 79 -


FUND BALANCES OF GOVERNMENTAL FUNDS

Last Ten Fiscal Years

Fiscal Year 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

GENERAL FUND

Nonspendable

Prepaid items 184$ 11,426$ 7,977$ 5,225$ 6,161$ 6,117$ 7,264$ 6,527$ 7,274$ 6,586$

Inventory - - - - - 3,076 6,923 6,937 6,655 7,404

Restricted for tort 324,614 333,840 393,206 480,379 535,955 506,065 474,605 366,703 191,115 21,310

Unrestricted

Committed - - - - - - - - - -

Assigned - - - - - - - - - -

Unassigned 165,819 484,954 697,578 994,106 1,392,479 1,888,067 2,307,714 2,182,577 2,110,871 2,515,086

TOTAL GENERAL FUND 490,617$ 830,220$ 1,098,761$ 1,479,710$ 1,934,595$ 2,403,325$ 2,796,506$ 2,562,744$ 2,315,915$ 2,550,386$

ALL OTHER GOVERNMENTAL FUNDS

Nonspendable

Prepaid items 3,996$ 2,586$ 2,247$ 2,807$ 1,916$ 2,306$ 2,710$ 1,581$ 870$ 2,149$

Restricted

Special recreation (18,548) (13,783) 33,883 90,646 152,614 212,516 269,292 329,195 335,076 266,631

Employee retirement 146,165 147,831 216,287 212,479 204,508 199,021 165,715 144,433 78,640 84,042

Specific purposes 24,713 28,229 33,734 40,155 42,434 43,866 42,194 42,528 40,216 38,105

Debt service 556,702 543,844 541,487 566,269 598,909 631,006 595,433 632,193 615,301 657,405

Park development\improvements 851,362 307,825 309,951 335,543 395,262 805,789 1,463,038 124,245 922,489 1,522,711

Unrestricted

Assigned (Unassigned) 279,573 (52,180) (9,987) 49,930 131,180 157,866 209,472 374,649 549,201 788,015

TOTAL ALL OTHER

GOVERNMENTAL FUNDS 1,843,963$ 964,352$ 1,127,602$ 1,297,829$ 1,526,823$ 2,052,370$ 2,747,854$ 1,648,824$ 2,541,793$ 3,359,058$

Data Source



(Modified Accrual Basis of Accounting)

- 80 -

Fiscal Year 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

REVENUES

Property taxes 2,040,733$ 2,044,713$ 2,294,181$ 2,377,345$ 2,468,422$ 2,498,628$ 2,475,510$ 2,787,758$ 2,492,233$ 2,640,961$

Personal property replacement taxes 189,774 210,918 240,395 310,187 337,052 384,416 351,981 311,557 346,310 312,409

Charges for services 625,255 599,121 664,366 757,707 757,973 768,475 686,946 659,974 800,123 857,865

Intergovernmental 400,000 192,800 76,500 195,448 26,437 205,217 - 400,000 - 10,478

Investment income 38,957 15,048 29,928 83,950 137,023 134,850 56,765 5,017 5,784 2,291

Miscellaneous 33,715 1,481 3,055 13,392 1,773 2,039 11,507 3,696 2,175 15,365

Total revenues 3,328,434 3,064,081 3,308,425 3,738,029 3,728,680 3,993,625 3,582,709 4,168,002 3,646,625 3,839,369

EXPENDITURES

General government 899,370 843,395 735,686 789,317 885,600 905,694 907,891 942,755 964,526 986,297

Culture and recreation 1,240,378 1,056,042 1,158,092 1,232,751 1,234,961 1,318,729 1,274,749 1,243,675 1,321,527 1,389,479

Pension fund contributions (1) 13,271 27,450 32,071 37,488 - - - - - -

Capital outlay 1,486,385 801,328 676,729 631,410 174,522 672,796 1,412,837 2,340,640 247,790 323,405

Debt service

Principal retirement 1,007,000 890,670 1,048,000 1,118,000 1,106,000 852,000 850,000 820,000 845,000 885,000

Interest and fiscal charges 56,861 182,087 79,276 75,914 60,072 33,096 29,219 79,309 28,263 17,963

Total expenditures 4,703,265 3,800,972 3,729,854 3,884,880 3,461,155 3,782,315 4,474,696 5,426,379 3,407,106 3,602,144


OVER EXPENDITURES (1,374,831) (736,891) (421,429) (146,851) 267,525 211,310 (891,987) (1,258,377) 239,519 237,225


Transfers in - - - - 5,366 309,125 - 600,000 550,000 -

Transfers (out) - - - (57,973) (74,512) (378,680) (71,630) (674,415) (638,379) (93,756)

Proceeds from the sale of capital assets - 30,600 - - 3,500 2,522 858 - - -

Bonds issued 1,678,000 188,081 845,000 756,000 482,000 850,000 2,055,000 - 495,000 905,000

Premium on bonds issued 14,773 - - - - - 12,424 - - 3,267

Total other financing sources (uses) 1,692,773 218,681 845,000 698,027 416,354 782,967 1,996,652 (74,415) 406,621 814,511



CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS


(Modified Accrual Basis of Accounting)

- 81 -

Fiscal Year 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

NET CHANGE IN FUND BALANCES 317,942$ (518,210)$ 423,571$ 551,176$ 683,879$ 994,277$ 1,104,665$ (1,332,792)$ 646,140$ 1,051,736$

FUND BALANCES, MAY 1 2,016,640 2,334,582 1,794,572 2,226,363 2,777,539 3,461,418 4,455,695 5,544,360 4,211,568 4,857,708

Prior period adjustment - (21,800) 8,220 - - - (16,000) - - -

FUND BALANCES, MAY 1, RESTATED 2,016,640 2,312,782 1,802,792 2,226,363 2,777,539 3,461,418 4,439,695 5,544,360 4,211,568 4,857,708

FUND BALANCES, APRIL 30 2,334,582$ 1,794,572$ 2,226,363$ 2,777,539$ 3,461,418$ 4,455,695$ 5,544,360$ 4,211,568$ 4,857,708$ 5,909,444$

DEBT SERVICE AS A PERCENTAGE OF

NONCAPITAL EXPENDITURES 33% 36% 37% 37% 35% 28% 29% 28% 27% 27%

Data Source


(1) Beginning in 2007, pension fund contributions were allocated to the general government and recreation functions.

- 82 -


Total Direct

Levy Residential Farm Commercial Industrial Railroad Assessed Estimated Tax

Year Property Property Property Property Property Value Value (1) Rate

2002 128,921,888$ -$ 27,842,154$ 358,583,522$ 4,661,960$ 520,009,524$ 1,575,786,436$ 0.4169

2003 127,213,680 - 25,049,196 357,993,200 4,850,397 515,106,473 1,560,928,706 0.4510

2004 149,375,592 - 26,538,618 393,865,844 5,830,370 575,610,424 1,744,274,012 0.4180

2005 159,583,112 - 22,480,822 421,188,147 5,262,418 608,514,499 1,843,983,330 0.4070

2006 168,372,155 - 22,995,376 406,859,266 5,260,676 603,487,473 1,828,749,918 0.4230

2007 198,374,606 - 23,941,111 466,739,919 5,324,277 694,379,913 2,104,181,555 0.3777

2008 221,422,688 - 21,506,774 480,591,612 6,428,607 729,949,681 2,211,968,730 0.3730

2009 226,625,838 - 24,906,158 409,002,992 7,359,191 667,894,179 2,023,921,755 0.4030

2010 209,483,394 - 23,844,436 368,807,816 9,813,811 611,949,457 1,854,392,294 0.4380

2011 N/A N/A N/A N/A N/A 546,157,943 1,655,024,070 0.4990

(1) Estimated value is based upon an estimate that assessed valuation is approximately 33% of the value.

N/A - 2011 tax levy year data not available at time of the report.

Data Source

Cook County Department of Tax Extension


ASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY

Last Ten Levy Years

- 83 -

PROPERTY TAX RATES - DIRECT AND OVERLAPPING GOVERNMENTS

Last Ten Levy Years

Tax Levy Year 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

PARK DISTRICT DIRECT RATES (1)

Corporate 0.0886 0.0967 0.0898 0.0882 0.1185 0.1087 0.1101 0.1344 0.1449 0.1650

Recreation 0.0664 0.0725 0.0673 0.0662 0.0662 0.0597 0.0611 0.0810 0.0799 0.0909

Bonds and interest - - - - - - - - - -

IMRF 0.0078 0.0085 0.0082 0.0081 0.0065 0.0059 0.0060 0.0079 0.0131 0.0151

Liability insurance 0.0353 0.0385 0.0373 0.0367 0.0218 0.0177 0.0151 - 0.0002 0.0002

Auditing 0.0031 0.0034 0.0033 0.0033 0.0024 0.0022 0.0022 0.0027 0.0029 0.0033

Handicapped Fund 0.0235 0.0352 0.0341 0.0348 0.0346 0.0326 0.0335 0.0308 0.0202 0.0226

Social Security 0.0173 0.0189 0.0183 0.0180 0.0185 0.0167 0.0175 0.0199 0.0213 0.0241

Limited Bonds 0.1749 0.1773 0.1592 0.1512 0.1540 0.1330 0.1271 0.1388 0.1550 0.1774

TOTAL PARK DISTRICT DIRECT RATES 0.4169 0.4510 0.4175 0.4065 0.4225 0.3765 0.3726 0.4155 0.4375 0.4986

FINAL TAX RATE 0.4169 0.4510 0.4180 0.4070 0.4230 0.3770 0.3730 0.4030 0.4380 0.4986

OVERLAPPING RATES

Village of Franklin Park 1.225 1.301 1.170 1.160 1.228 1.103 1.095 1.582 1.702 1.929

School District 84 3.048 3.154 2.933 2.922 3.424 3.389 3.374 3.383 3.932 4.343

High School District 212 1.654 2.199 2.030 2.004 2.093 1.868 1.869 1.989 2.223 2.509

Community College 504 0.257 0.269 0.259 0.233 0.240 0.224 0.212 0.214 0.225 0.267

Franklin Park Library 0.172 0.179 0.166 0.165 0.175 0.152 0.152 0.167 0.187 0.213

Cook County 0.534 0.630 0.593 0.533 0.500 0.446 0.415 0.394 0.423 0.462

Forest Preserve 0.061 0.059 0.060 0.060 0.057 0.053 0.051 0.049 0.051 0.058

Other (2) 0.724 0.566 0.534 0.519 0.481 0.444 0.419 0.458 0.474 0.572

TOTAL OVERLAPPING RATES 8.092 8.808 8.163 8.003 8.621 8.056 7.960 8.639 9.655 10.852

(1) Tax rates per $100 of assessed valuation

(2) Suburban Sanitarium, Water Reclamation, Leyden Township, Road and Bridge, General Assistance and Consolidated Elections

Data Source

Office of the County Clerk

2012 Data not available for report



- 84 -

Taxable Percentage of Taxable Percentage of

Assessed Total Taxable Assessed Total Taxable

Taxpayer Type of Business Value Rank Assessed Value Taxpayer Type of Business Value Rank Assessed Value

Center Point Properties Warehouse and outlet store 16,331,233$ 1 2.99% Center Point Properties Warehouse and outlet store 13,573,076$ 1 2.61%

GRE Belmont LLC Industrial property 10,755,518 2 1.97% GRE Belmont LLC Industrial property 8,939,035 2 1.72%

AM Castle Wholsesale steel 7,145,570 3 1.31% AM Castle Wholsesale steel 5,938,766 3 1.14%

Sloan Valve Co. Freight car electrical equipment 6,508,534 4 1.19% Sloan Valve Co. Freight car electrical equipment 5,409,318 4 1.04%

KTR Capital Partners Industrial property 5,817,344 5 1.07% KTR Capital Partners Industrial property 4,834,862 5 0.93%

Life Fitness Exercise equipment 5,792,982 6 1.06% Hamilton Partners Industrial property 4,444,926 6 0.85%

Hamilton Partners Industrial property 5,348,170 7 0.98% James Campbell Industrial property 4,124,665 7 0.79%

The Legacy Group Industrial property 4,820,262 8 0.88% The Legacy Group Industrial property 4,006,175 8 0.77%

Entropy Consortium II Industrial property 4,497,488 9 0.82% Magellan Pipeline Industrial property 3,605,031 9 0.69%

Magellan Pipeline Industrial property 4,337,602 10 0.79% Entrophy Consortium II Grocery, frozen goods coop 3,563,731 10 0.69%

TOTAL 71,354,703$ 13.06% TOTAL 58,439,585$ 11.23%

Data Source

Cook County Department of Tax Extension



PRINCIPAL PROPERTY TAXPAYERS

Current Year and Nine Years Ago

Tax Levy 2011 Tax Levy 2002

- 85 -

PROPERTY TAX LEVIES AND COLLECTIONS

Last Ten Levy Years

Collected within the

Fiscal Year of the Levy Collections Total Collections to Date

Levy Percentage in Subsequent Percentage

Year Tax Extended Tax Levied Amount of Levy Years Amount of Levy

2002 2,168,440$ 2,167,665$ 2,040,733$ 94.14% 76,846$ 2,117,579$ 97.69%

2003 2,323,130 2,323,363 2,044,713 88.01% 237,649 2,282,362 98.24%

2004 2,405,702 2,402,484 2,294,181 95.49% 14,350 2,308,531 96.09%

2005 2,476,547 2,473,581 2,377,345 96.11% 20,986 2,398,331 96.96%

2006 2,552,584 2,549,995 2,468,422 96.80% (6,955) 2,461,467 96.53%

2007 2,617,679 2,613,730 2,498,628 95.60% 14,271 2,512,899 96.14%

2008 2,698,502 2,719,934 2,475,510 91.01% 159,321 2,634,831 96.87%

2009 2,691,418 2,688,564 1,359,651 50.57% 1,283,518 2,643,169 98.31%

2010 2,680,219 2,677,552 1,233,318 46.06% 1,400,811 2,634,129 98.38%

2011 2,725,202 2,725,328 1,332,433 48.89% 1,150,264 2,482,697 91.10%

Note:

Data Source




Property in the District is reassessed every three years. Property is assessed and then equalized to be approximately 33 1/3% of

actual value.

- 86 -


Equalized Activities Activities Percent of

Fiscal Tax Assessed General Alternate Total Equalized

Year Levy Value Obligation Installment Revenue Primary Assessed Per

Ended Year Population (1) (in thousands) Bonds Contract Bonds Government Value Capita

2003 2002 15,158 520,009,524$ 1,858,000$ 935,000$ -$ 2,793,000$ 0.54% 184.26$

2004 2003 15,158 515,106,468 1,261,000 780,000 - 2,041,000 0.40% 134.65

2005 2004 15,158 575,550,424 1,273,000 565,000 - 1,838,000 0.32% 121.26

2006 2005 15,158 608,514,499 1,201,000 275,000 - 1,476,000 0.24% 97.37

2007 2006 15,158 603,487,473 852,000 - - 852,000 0.14% 56.21

2008 2007 15,158 694,379,913 850,000 - - 850,000 0.12% 56.08

2009 2008 15,158 729,949,681 2,055,000 - - 2,055,000 0.28% 135.57

2010 2009 14,034 667,884,179 1,235,000 - - 1,235,000 0.18% 88.00

2011 2010 14,034 611,949,457 885,000 - - 885,000 0.14% 63.06

2012 2011 14,034 546,157,943 905,000 - - 905,000 0.17% 64.49

Note: Details of the District's outstanding debt can be found in the notes to financial statements.

Data Source

(1) U.S. Census Info



RATIOS OF OUTSTANDING DEBT BY TYPE


- 87 -



RATIOS OF GENERAL BONDED DEBT OUTSTANDING


Less: Amounts Percentage of

General Available Equalized Percentage of

Fiscal Obligation In Debt Assessed Personal Per

Year Bonds Service Fund Total Value* Income Capita

2003 1,858,000$ 556,702$ 1,301,298$ 0.25% 0.49% 85.85$

2004 1,261,000 543,844 717,156 0.12% 0.27% 47.31

2005 1,273,000 541,487 731,513 0.13% 0.27% 48.26

2006 1,201,000 566,269 634,731 0.10% 0.24% 41.87

2007 852,000 598,909 253,091 0.04% 0.10% 16.70

2008 850,000 631,006 218,994 0.03% 0.08% 14.45

2009 2,055,000 595,433 1,459,567 0.20% 0.50% 96.29

2010 1,235,000 632,193 602,807 0.09% 0.22% 42.95

2011 885,000 615,301 269,699 0.04% 0.10% 19.22

2012 905,000 657,405 247,595 0.05% 0.09% 17.64

Note: Details of the District's outstanding debt can be found in the notes to financial statements.

* See the schedule of Assessed Value and Estimated Actual Value of Taxable Property on

page 83 for property value data.

Data Source


- 88 -

April 30, 2012

Governmental Unit Gross Debt

Percentage of

Debt

Applicable to

Park District

Park District of

Franklin Park

Share

Park District of Franklin Park 905,000$ 100.00% 905,000$

Village of Franklin Park 80,000 72.35% 57,880

Cook County 3,709,080,000 0.35% 12,981,780

Cook County Forest Preserve Dist. 139,425,000 0.35% 487,988

Metropolitan Water Rec. Dist. 2,446,220,030 0.36% 8,806,392

School District 81 25,386,406 8.03% 2,038,528

School District 83 32,370,000 35.98% 11,646,726

School District 84 8,847,341 60.78% 5,377,414

School District 212 15,875,000 24.36% 3,867,150

TOTAL OVERLAPPING DEBT 6,377,283,777 45,263,858

TOTAL DIRECT AND OVERLAPPING DEBT 6,378,188,777$ 46,168,858$

Data Source


Note: Overlapping governments are those that coincide, at least in part, with geographic boundries of the

District. This schedule estimates the portion of the outstanding debt of those overlapping governments

that is bourne by the property taxpayers of the District. This process recognizes that, when considering

the District's ability to issue and repay long-term debt, the entire debt burden borne by the property

taxpayers should be taken into account. However, this does not imply that every taxpayer is a resident,

and therefore responsible for repaying the debt, of each overlapping government.



DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT

- 89 -



LEGAL DEBT MARGIN INFORMATION


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

EQUALIZED ASSESSED VALUATION 520,009,524$ 515,106,473$ 608,514,499$ 608,514,499$ 603,487,473$ 694,379,913$ 729,949,681$ 667,884,179$ 611,949,457$ 546,157,943$

Bonded Debt Limit - 2.875% EAV 17,940,329$ 17,771,173$ 19,856,490$ 20,993,750$ 20,820,318$ 23,956,107$ 25,183,264$ 19,201,670$ 17,593,547$ 15,702,041$

Total net debt

applicable to limit 935,000 780,000 565,000 275,000 - - - - - -

LEGAL DEBT MARGIN 17,005,329$ 16,991,173$ 19,291,490$ 20,718,750$ 20,820,318$ 105,092,625$ 25,183,264$ 19,201,670$ 17,593,547$ 15,702,041$

PERCENTAGE OF LEGAL DEBT MARGIN TO

BONDED DEBT LIMIT 94.8% 95.6% 97.2% 98.7% 100.0% 438.7% 100.0% 100.0% 100.0% 100.0%

Non-Referendum Legal Debt Limit - .575% EAV 2,990,055$ 2,961,862$ 3,498,958$ 3,498,958$ 3,470,053$ 3,992,684$ 4,197,211$ 3,840,334$ 3,518,709$ 3,140,408$

Total net debt

applicable to limit 1,858,000 1,261,000 1,273,000 1,201,000 852,000 850,000 2,055,000 1,235,000 885,000 905,000

LEGAL DEBT MARGIN 1,132,055$ 1,700,862$ 2,225,958$ 2,297,958$ 2,618,053$ 3,142,684$ 2,142,211$ 2,605,334$ 2,633,709$ 2,235,408$

PERCENTAGE OF LEGAL DEBT MARGIN TO

BONDED DEBT LIMIT 37.9% 57.4% 63.6% 65.7% 75.4% 78.7% 51.0% 67.8% 74.8% 71.2%

Data Source


- 90 -


Per

Median Median Capita Total

Fiscal Income Income Personal Personal School Unemployment

Year Population (1) Family Household Income (1) Income Enrollment (2) Rate (3)

2003 15,158 54,433$ 46,688$ 17,550$ 266,022,900$ 4,531 6.5%

2004 15,158 54,433 46,688 17,550 266,022,900 4,513 6.2%

2005 15,158 54,433 46,688 17,550 266,022,900 4,642 6.2%

2006 15,158 54,433 46,688 17,550 266,022,900 4,724 4.7%

2007 15,158 54,433 46,688 17,550 266,022,900 4,655 4.7%

2008 15,158 54,433 46,688 17,550 266,022,900 4,662 5.3%

2009 15,158 60,698 56,255 19,434 294,580,572 4,574 9.7%

2010 14,034 60,698 56,255 19,434 272,736,756 4,501 10.3%

2011 14,034 60,698 56,255 19,434 272,736,756 4,118 10.2%

2012 14,034 60,698 56,255 19,434 272,736,756 N/A 9.2%

N/A - Information not available.

Data Source

(1) 2000 and 2010 U.S. Census

(2) Data provided by Illinois State Board of Education School Report Card Data for Districts 83, 84 and 212.

(3) Bureau of Labor Statistics



DEMOGRAPHIC AND ECONOMIC INFORMATION

- 91 -

Percentage Percentage

of Total of Total

Number of Village Number of Village

Employer Type of Business Employees Rank Employment Employer Type of Business Employees Rank Employment

Hill Mechanical Group Industrial HVAC, plumbing and refrigeration 900 1 5.28% Nestle Chocolate & Confection Candy and confectionery 900 1 3.64%

Canadian Pacific Railway Railroad yard and repair 800 2 4.69% Canadian Pacific Railway Railroad yard and repair 850 2 3.44%

Sloan Valve Co. Flush valves, faucets, showerheads 750 3 4.40% Sloan Valve Co. Flush valves, faucets, showerheads 750 3 3.03%

Nestle Chocolate & Confection Candy and confectionery 750 4 4.40% Werner Co. Ladders 750 4 3.03%

Fresh Express Vegetable processing 696 5 4.08% Bretford Manufacturing Inc. Metal fabrication and furniture 700 5 2.83%

Bretford Manufacturing Inc. Office furniture 500 6 2.93% Transilwrap Co. Inc Laminating film 700 6 2.83%

Life Fitness Exercise equipment 450 7 2.64% Bestfoods Foodservice Wholesale foods 600 7 2.43%

RCM Industries Aluminum die casting 400 8 2.35% Redi-Cut Foods Inc. Vegetable processing 600 8 2.43%

DHL Global Forwarding International freight 334 9 1.96% Life Fitness Exercise equipment 600 9 2.43%

Maclean Power Systems Utility tranmission apparatus 396 10 2.32% MacLean-Fogg Co./Power Systems Electrical components and insulators 500 10 2.02%

US Smokeless Tobacco Manuf Co. Snuff manufacturing 240 11 1.41% A.M. Castle Metals & Co. Cold finishing metal shapes 450 11 1.82%

TOTAL 6,216 36.46% TOTAL 7,400 29.93%

TOTAL CITY EMPLOYMENT 17,049 TOTAL CITY EMPLOYMENT 24,729

Data Source

2003 and 2012 Illinois Services and Manufacture's Directories

2012 2003



PRINCIPAL EMPLOYERS

Current Year and Nine Years Ago

- 92 -

EMPLOYEES BY FUNCTION


2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

GENERAL GOVERNMENT

Full-time

Executive Director 1 1 1 1 1 1 1 1 1 1

Superintendent of Finance and Technology 1 1 1 1 1 1 1 1 1 1

Superintendent of Parks 1 1 1 1 1 1 1 1 1 1

Human Resource Manager 1 1 1 1 1 1 1 1 1 1

Finance Coordinator 1 - - - - 1 1 1 1 1

Maintenance labor 8 7 6 5 5 5 4 4 3 4

Total full-time 13 11 10 9 9 10 9 9 8 9

Part-time general government 4 4 10 9 8 6 7 8 7 10

Total general government 17 15 20 18 17 16 16 17 15 19

CULTURE AND RECREATION

Full-time

Superintendent of Recreation 1 1 1 1 1 1 1 1 1 1

Recreation and Facilty Managers 3 3 3 3 3 3 2 2 2 2

Marketing and Communications Manager 1 1 1 1 1 1 1 - - -

Center and North Park Facility Manager 1 1 1 1 1 1 1 1 1 1

Clerical - - - - - - - - - -

Total full-time 6 6 6 6 6 6 5 4 4 4

Part-time culture and recreation 112 99 120 123 122 122 117 115 122 115

Total culture and recreation 118 105 126 129 128 128 122 119 126 119



- 93 -

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

ENTERPRISE

Full-time

Ice Arena Manager 1 1 1 1 1 1 1 1 1 1

Assisitant Manager 1 1 1 1 1 1 1 1 1 1

Skate Director 1 1 1 1 1 - - - - -

Mainenance supervisors 3 3 3 3 3 3 3 3 3 3

Operations assistants 2 2 2 2 2 2 2 2 2 2

Total full-time 8 8 8 8 8 7 7 7 7 7

Part-time enterprise 70 67 69 57 56 50 50 57 60 61

Total enterprise 78 75 77 65 64 57 57 64 67 68

TOTAL PARK DISTRICT

Full-time 27 25 24 23 23 23 21 21 19 20

Part-time 186 170 199 189 186 178 174 179 189 186

TOTAL PARK DISTRICT 213 195 223 212 209 201 195 200 208 206

Data Source

Park District Records

- 94 -

OPERATING INDICATORS


Fiscal Year 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

PARKS AND RECREATION

Revenue

Recreation program fees 252,514$ 268,843$ 305,942$ 328,671$ 337,458$ 312,773$ 298,575$ 287,824$ 327,787$ 396,164$

NP programs 6,219 6,180 5,234 5,553 6,459 5,898 4,280 5,300 6,975 5,819

Pool revenue 80,451 72,987 64,006 88,891 75,589 84,264 82,910 59,811 129,116 155,776

Community center facility rental 46,542 22,004 23,871 23,744 27,712 31,864 35,393 30,754 33,363 32,368

Center at North Park facility rental 229,920 218,404 258,949 304,308 297,125 327,806 264,070 271,024 296,762 264,533

Total parks and recreation 615,646 588,418 658,002 751,167 744,343 762,605 685,228 654,713 794,003 854,660

ICE ARENA

Revenue

Program revenue 561,650 556,357 575,199 705,154 699,234 689,845 628,480 709,680 744,050 793,416

Ice arena facility rental 286,995 324,161 356,399 312,078 320,169 309,298 322,540 326,974 334,929 330,524

Ice arena skate rental 21,675 20,427 19,688 28,349 26,886 23,018 23,053 25,916 24,813 29,300

Total ice arena 870,320 900,945 951,286 1,045,581 1,046,289 1,022,161 974,073 1,062,570 1,103,792 1,153,240

TOTAL REVENUES 1,485,966$ 1,489,363$ 1,609,288$ 1,796,748$ 1,790,632$ 1,784,766$ 1,659,301$ 1,717,283$ 1,897,795$ 2,007,900$

PARKS AND RECREATION REGISTRATION

Day camp 309 349 425 456 536 496 544 558 594 691

Adult fitness and classes 842 650 593 631 468 375 407 537 776 1,035

Youth athletics 383 393 338 454 388 379 351 334 433 446

Fitness passes 498 524 532 403 386 357 383 446 451 382

Pool passes 931 778 825 511 564 585 543 472 902 1,255

Youth classes 1,092 1,096 1,377 1,314 1,068 1,046 903 888 737 807

Trips 1,159 674 612 543 308 297 94 87 158 47

Total parks and recreation 5,214 4,464 4,702 4,312 3,718 3,535 3,225 3,322 4,051 4,663

ICE ARENA REGISTRATION

Skate lessons 1396 1230 1144 1390 1253 1335 1,249 1,294 1,316 1,407

Youth hockey league 408 451 478 466 453 388 389 403 439 464

Panther paws 388 384 366 349 247 312 342 405 479 460

Total ice arena 2,192 2,065 1,988 2,205 1,953 2,035 1,980 2,102 2,234 2,331

TOTAL REGISTRATION 7,406 6,529 6,690 6,517 5,671 5,570 5,205 5,424 6,285 6,994

Data Source




- 95 -

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

PARKS

Number of sites 22 22 22 22 22 22 22 22 22 22

Total acres 23.9 23.9 23.9 23.9 23.9 23.9 23.9 23.9 23.9 23.9

FACILITIES

Playgrounds 14 15 15 15 15 16 16 16 16 16

Swimming pool - outdoor 1 1 1 1 1 1 1 1 1 1

Recreation center 2 2 2 2 2 2 2 2 2 2

Indoor ice arena 1 1 1 1 1 1 1 1 1 1

Banquet facility 1 1 1 1 1 1 1 1 1 1

Spray ground - 1 2 2 2 2 2 2 2 2

Skate park - - - - - 1 1 1 1 1

Concession stands 3 3 3 3 3 3 3 3 3 3

Batting cages - - - - - 1 1 1 1 1

Fitness centers 1 1 1 1 1 1 1 1 1 1

Soccer - indoor 2 2 2 2 2 2 2 2 2 2

Soccer - outdoor 2 3 3 3 3 3 3 3 3 3

Badminton court 1 1 1 1 1 1 1 1 1 1

Baseball fields 4 4 4 4 4 4 4 4 4 4

Basketball - indoor 1 1 1 1 1 1 1 1 1 1

Basketball - outdoor 2 3 3 3 3 4 4 4 4 4

Tennis courts - outdoor 1 1 1 1 1 1 1 1 1 1

Picnic areas 14 15 15 15 15 15 15 15 15 15

Volleyballl court - outdoor 2 2 2 2 2 2 2 2 21 21

Jogging and bike trails 1 1 1 1 1 1 1 1 1 1

Data Source




CAPITAL ASSET STATISTICS


- 96 -

franklin park, illinois comprehensive annual financial report

Documents