Budget Forms - Cary Park District

Transcription

Cary Park District
FY2014-15 Budget and Ordinance
Adopting the Combined Annual Budget and Appropriation of
Funds for the Cary Park District
Board of Commissioners
Michael J. Renner, President
Thomas Emma, Vice-President
William Harvey, Commissioner
William Krueger, Commissioner
Philip W. Stanko, Commissioner
Dan Jones, CPRP, Executive Director
THIS PAGE WAS INTENTIONALLY LEFT BLANK
CERTIFICATION
I, Daniel C. Jones, do hereby certify that I am the Secretary of the Cary Park District of
McHenry County, Illinois and as such, I am the keeper of the Ordinances, Minutes and other
records of the Cary Park District.
I further certify that the attached is a true and correct copy of Ordinance O-2014-15-01, “An
Ordinance Adopting the Combined Annual Budget and Appropriation of Funds for the Cary Park
District, McHenry County, Illinois for the Fiscal Year Beginning on the First (1st) Day of May,
2014 and Ending on the Thirtieth (30th) Day of April, 2015.”
Witness my hand this 22nd day of May, 2014.
______________________________________
Daniel C. Jones, Secretary
Cary Park District
SEAL
Cary Park District
ORDINANCE O-2014-15-01
AN ORDINANCE ADOPTING THE COMBINED ANNUAL BUDGET AND
APPROPRIATION OF FUNDS FOR THE CARY PARK DISTRICT, MCHENRY COUNTY,
ILLINOIS FOR THE FISCAL YEAR BEGINNING ON THE FIRST (1ST) DAY OF MAY,
2014 AND ENDING ON THE THIRTIETH (30TH) DAY OF APRIL, 2015
Published by:
Cary Park District
255 Briargate Road
Cary, Illinois 60013
May 22, 2014
Cary Park District
ORDINANCE O-2014-15-01
AN ORDINANCE ADOPTING THE COMBINED ANNUAL BUDGET AND APPROPRIATION OF
FUNDS FOR THE CARY PARK DISTRICT, McHENRY COUNTY, ILLINOIS FOR THE FISCAL
YEAR BEGINNING ON THE FIRST (1st) DAY OF MAY, 2014 AND ENDING ON THE
THIRTIETH (30TH) DAY OF APRIL, 2015
BE IT ORDAINED by the Board of Park Commissioners (“Board”) of the Cary Park District (“the
District”), McHenry County, Illinois, as follows:
Section I. It is hereby found and determined that:
A. This Board has heretofore caused to be prepared a combined annual budget and appropriation in
tentative form, which ordinance has been conveniently available for public inspection for at least
thirty (30) days prior to final action thereon;
B. A public hearing was held at the Cary Park District Community Center, 255 Briargate Road, Cary,
Illinois, on the twenty-second (22nd) day of May, 2014, on said ordinance, notice of said hearing
having been given by publication in the Northwest Herald, being a newspaper published within this
District, at least one week prior to such hearing; and,
C. All other legal requirements for the adoption of the annual budget and appropriation ordinance of
this district for the fiscal year beginning May 1, 2014 and ending April 30, 2015 have heretofore
been performed.
Section II. The following sums of money, or so much thereof as may be authorized by law for the
following objects and purposes, be and the same are hereby budgeted and appropriated for the fiscal year
beginning the first day of May, 2014 and ending on the thirtieth day of April, 2015
Budget
Appropriation
$1,107,698
187,371
125,679
84,615
38,700
1,840,285
$3,384,348
$1,219,000
281,000
189,000
170,000
100,000
2,024,000
$3,983,000
A. CORPORATE FUND
Personnel & Payroll Related Costs
Professional & Other Services
Commodities
Repairs & Maintenance
Capital Items
Interfund Transfers – Out
TOTAL CORPORATE FUND
Page 1
Budget
Appropriation
$ 991,009
342,327
120,793
63,829
14,000
772,990
$2,304,948
$ 1,239,000
450,000
181,000
250,000
100,000
850,000
$ 3,070,000
$
9,689
811,771
240,188
83,910
113,945
0
0
103,902
0
$1,363,405
$
$
$
B. RECREATION FUND
Commodities
Capital Items
TOTAL RECREATION FUND
C. FOXFORD HILLS GOLF CLUB FUND
Commodities
Depreciation & Loss on Disposal
Other Expense
Capital Outlay
Debt Expense
Debt - Principal Payments
TOTAL FOXFORD HILLS GOLF CLUB FUND
12,000
1,623,000
480,000
252,000
125,000
100,000
500,000
125,000
171,000
$3,388,000
D. DEVELOPERS’ DONATIONS FUND
Capital Items
TOTAL DEVELOPERS’ DONATIONS FUND
$
0
0
0
50,000
100,000
$ 150,000
E. G.O. LIMITED TAX PARK BOND & INT FUND
Debt Service
TOTAL G.O. LIMITED TAX PARK BOND & INT FUND
$ 679,777
0
$ 679,777
$ 700,000
5,000
$ 705,000
$1,162,820
$1,162,820
$1,200,000
$1,200,000
$ 398,169
$ 398,169
$ 425,000
$ 425,000
F. ADV REFUNDING BOND & INT FUND 2004/2005
Debt Service
TOTAL ADV REFUNDING BOND & INT FUND 2004/2005
G. REFUNDING ALT BOND & INT FUND 2013A
Debt Service
TOTAL REFUNDING ALT BOND & INT FUND 2013A
Page 2
Budget
Appropriation
$
$
$
$
H. AUDIT FUND
Professional Services
TOTAL AUDIT FUND
9,475
9,475
11,800
11,800
I. CAPITAL PROJECTS FUND
Capital Items
TOTAL CAPITAL PROJECTS FUND
$ 168,800
$ 168,800
$ 750,000
$ 750,000
$
99,801
53,375
230
$ 153,406
$ 124,700
80,100
5,000
$ 209,800
$ 234,671
$ 234,671
$ 469,000
$ 469,000
$ 272,000
$ 272,000
$ 326,400
$ 326,400
$
6,000
0
0
6,000
$
$ 10,748
123,568
7,350
58,050
0
$ 199,716
$
$
$
$
$
J. LIABILITY INSURANCE FUND
Commodities
TOTAL LIABILITY INSURANCE FUND
K. CAPITAL EQUIPMENT REPLACEMENT FUND
Capital Items
TOTAL CAPITAL EQUIPMENT REPLACEMENT FUND
L. IMRF/SOCIAL SECURITY FUND
Payroll Related Costs
TOTAL IMRF/SOCIAL SECURITY FUND
M. PAVING & LIGHTING FUND
Capital Items
TOTAL PAVING & LIGHTING FUND
$
$
20,000
10,000
10,000
40,000
N. SPECIAL RECREATION FUND
Commodities
TOTAL SPECIAL RECREATION FUND
21,500
185,400
50,000
116,100
100,000
$ 473,000
O. CARY PRAIRIE HERITAGE FUND
TOTAL CARY PRAIRIE HERITAGE FUND
Page 3
0
0
10,000
10,000
SUMMARY OF FUNDS
(Including Interfund Transfers)
A. CORPORATE FUND
B. RECREATION FUND
C. FOXFORD HILLS GOLF CLUB FUND
D. DEVELOPERS’ DONATIONS FUND
E. G.O. LIMITED TAX PARK BOND & INT FUND
F. ADV REFUNDING BOND & INT FUND 2004/2005
G. REFUNDING ALT BOND & INT FUND 2013A
H. AUDIT FUND
I. CAPITAL PROJECTS FUND
J. LIABILITY INSURANCE FUND
K. CAPITAL EQUIPMENT REPLACEMENT FUND
L. IMRF/SOCIAL SECURITY FUND
M. PAVING & LIGHTING FUND
N. SPECIAL RECREATION FUND
O. CARY PRAIRIE HERITAGE FUND
TOTAL ALL FUNDS
Budget
Appropriation
$ 3,384,348
2,304,948
1,363,405
0
679,777
1,162,820
398,169
9,475
168,800
153,406
234,671
272,000
6,000
199,716
0
$10,337,535
$ 3,983,000
3,070,000
3,388,000
150,000
705,000
1,200,000
425,000
11,800
750,000
209,800
469,000
326,400
40,000
473,000
10,000
$15,211,000
Each of said sums of money and the aggregate thereof are deemed necessary by this Board to defray the
necessary expenses and liabilities of this District during the fiscal year beginning the first day of May, 2014
and ending on the thirtieth day of April, 2015 for the respective purposes set forth.
Section III. As part of the annual budget and appropriation ordinance for the fiscal year beginning on the
first day of May, 2014 and ending on the thirtieth day of April, 2015, the Board states that:
A. The estimated cash expected to be on hand at the beginning of the fiscal year is $3,330,000;
B. The estimated cash (excluding interfund transfers) expected to be received during the fiscal year is
$7,674,000;
C. The estimated expenditures (excluding interfund transfers) contemplated for the fiscal year are
$7,712,000;
D. The estimated cash expected to be on hand at the end of the fiscal year is $3,292,000; and,
E. The estimated amount of taxes to be received by the Cary Park District during the fiscal year is
$4,311,123.
Section IV. The receipts and revenues of the Cary Park District derived from sources other than taxation
and not specifically appropriated shall constitute the General Corporate Fund and shall first be placed to the
credit of such fund.
Page 4
Section V. The invalidity of any portion of this ordinance, or any items thereof, shall not render invalid any
other portion or item thereof which can be given effect without the invalid part.
Section VI. This ordinance shall be in full force and effect from and after its passage and approval as
required by law.
PASSED AND APPROVED this 22nd day of May, 2014.
AYES: _____________________________________________
NAYS: _____________________________________________
ABSENT: ___________________________________________
_________________________________
President, Board of Commissioners
ATTEST:
_________________________________
Daniel C. Jones, Secretary,
Board of Commissioners
Page 5
(Seal)
Cary Park District
CERTIFICATE OF ESTIMATE OF REVENUE FOR FISCAL YEAR 2014-15
I, Claire M. Glenn, do hereby certify that I am the duly qualified Treasurer of the Cary Park District and the
chief fiscal officer of said Cary Park District. As such officer, I do further certify that the revenues, by
source, anticipated to be received by said Cary Park District in the fiscal year beginning May 1, 2014 and
ending on April 30, 2015 are estimated as follows:
SOURCE
Real Estate Taxes
Personal Property Replacement Tax
Interest Earned
Grants and Donations
Bond Issuance
Program Revenues
Golf Fees, Charges and Instruction
Merchandise, Food and Beverage Sales
Facility Rental
Other Sources
AMOUNT
$ 4,311,123
47,850
4,747
59,784
675,500
1,019,846
1,164,722
250,780
119,955
29,925
TOTAL
$ 7,684,232
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the Cary Park District this
22nd day of May 2014.
___________________________________
Claire M. Glenn, Treasurer
Cary Park District
(SEAL)
Page 6
May 22, 2014
To the Residents of the Cary Park District:
The Cary Park District is pleased to present its FY2014-15 Budget. As always, the information
provided is intended to be done in a “user-friendly” format. The Park District hopes you will
read it to become more familiar with how the District manages its daily operations and finances
in the most efficient manner possible.
Ø The annual budget is a legal requirement for Illinois Park Districts. The proposed budget
and appropriations document is attached to this booklet as Ordinance O-2014-15-01,
Budget & Appropriations Ordinance, in its legal form.
Ø The budget is also a management tool that helps the agency track revenues and
expenditures, and effectively provides the services that benefit the community. This
budget booklet identifies the financial manner by which the District will attempt to meet
its goals.
Ø The budget also reflects the Park District’s mission, vision and goals; these are identified
in this document for your review.
Ø The budget provides the community with a means for input into the District’s operations.
It is intended to serve as a public communication tool to improve and provide a better
understanding of the District’s fiscal responsibilities.
Page 7
Providing exceptional recreation, parks and open space opportunities.
The Cary Park District was established on October 30, 1971. The Park District is a
Distinguished Park & Recreation Accredited Agency, an award from the Illinois Association of
Park Districts (IAPD). The goal of the accreditation program is to improve the delivery of
recreation and park services to the residents of Illinois through a voluntary comprehensive
evaluation process. The process requires an agency to complete and participate in an extensive
and detailed review in six critical categories: General Management, Finance and Business
Operations, Facilities and Parks, Personnel, Recreation Services and Legal.
The Board of Commissioners took action to “hold the line” on taxes for residents in the coming
year. As a result, the taxpayers as a whole will see the taxes paid to the District remain at the
same level as the prior year, without any increase for CPI. In fact, as additional taxpayers were
added to the tax roll from new growth, current taxpayers, as a whole, will see a drop in taxes paid
to the District. This year’s budget reflects the continuing commitment of the Board of
Commissioners and management to provide the highest quality parks and recreation programs,
facilities and services possible to the community while ensuring efficient and effective use of
Park District financial resources and assets.
The Park District places a high priority on maintaining what it currently owns. The Capital
Equipment Replacement Fund (CERF) provides the financial plan to provide for timely
replacement of equipment, including mechanical equipment and building components without
having to eliminate other programs or services from the budget to do so. In the upcoming budget
year, through CERF, the Park District plans the replacement of the telephone system, two
vehicles, a tractor, a backhoe loader, a zero turn mower and a ball field groomer. The Park
District also plans the replacement of a roof top HVAC unit, a furnace/condenser unit at the
Community Center facility and two furnace/condenser units at the Kraus Senior Center.
Combined, these and other replacement items are budgeted to cost approximately $234,671.
This year’s capital budget includes the cost to update the Park District’s Comprehensive Master
Plan (CMP) and the construction of a trail at Lions Park. The CMP is intended to be a tool to
guide the Park District in its decision making over the next 10 years. The trail will connect
Silver Lake Road to the playground and ball fields inside Lions Park and provide safe access for
both pedestrians and bicyclists. The Park District also plans to evaluate the Preschool building to
identify needed repairs.
January 30, 2014 marked ten years since the Park District took ownership of Foxford Hills Golf
Club, a valuable open space resource with active recreation opportunities. This year will mark
the eleventh golf season that the Park District has operated Foxford Hills Golf Club. This
property continues to be successful in providing a comprehensive golf opportunity to the
community and is expected to continue to produce positive operating income that will be applied
towards payment of debt. A provision has been made in the budget for an internal loan from
another fund to the golf fund. The Board intends for any such loan to be paid back by the golf
course over time. The expectation is that the golf course will continue to be maintained at a high
level and serve as a wonderful asset to residents and the surrounding areas.
Page 8
Finally, the budget reflects the Park District’s continued commitment to provide high quality
parks and recreation program opportunities. The recreation programming made available in the
community continues to be offered at a high quality level and additional program opportunities
are being offered where new opportunities have been identified.
Thank you for taking the time to read this document. If you have any questions, please contact
any Commissioner, the Executive Director - Dan Jones, or Director of Finance & Administration
- Claire Glenn, any of whom will be happy to discuss the Park District’s financial picture with
you.
On behalf of the Cary Park District,
Michael J. Renner, President
Thomas Emma, Vice-President
William Harvey, Commissioner
William Krueger, Commissioner
Philip W. Stanko, Commissioner
Dan Jones, CPRP, Executive Director
Claire Glenn, CPA, Director of Finance & Administration
Katie Hughes, Director of Communications & Marketing
David Raica, Director of Planning & Development
Sara Kelly, CPRP, Superintendent of Recreation
Ben Rea, CPRP, Superintendent of Park Maintenance
Connie Nesler, MBA, Assistant Director of Finance & Administration
Page 9
Mission, Vision & Goals
Mission
The Cary Park District mission statement is as follows:
Providing exceptional recreation, parks and open space opportunities
Vision
The Cary Park District Board of Commissioners has adopted the following vision for the Cary
Park District:
The Cary Park District is committed as an organization to provide exceptional parks and lifelong
recreational opportunities.
Recreation
Provide non-discriminatory leisure opportunities for the region to participate in active and
passive, supervised and non-supervised, for-fee and free, parks and recreation programs,
facilities and services.
Preservation, Heritage & Community Character
Lead the community in efforts to maintain and preserve the open space, natural and historical
heritage, and “rural-suburban” character of the communities that we serve.
Service, Meeting the Needs of the Community
Provide services that are proactive where possible that meets or exceeds the current and future
needs of the community.
Excellence & Value
Work with a commitment toward excellence and value as recognized by the community.
Cooperation
Through cooperation with other governmental, non-profit and private sector agencies, we can
often get more accomplished for the community than our own individual efforts may allow.
Progressive Innovation
Lead the field in parks and recreation for communities our size through progressive and
innovative practices.
Page 10
Long-Range Goals
The Board has adopted the following Long-Range Goal for the District:
The Long Range Goal of the Cary Park District is to provide exceptional services in the
following areas:
· Parks & Open Space Operations. Provide park maintenance and open space preservation
services to the community.
· Recreation Programs & Facilities Operations. Provide recreation programs, facilities and
· Community Information. Provide communications, information and public relations
· Administration. Provide support services in administration, finance, personnel,
technology, risk management, planning and development to the agency.
The Board of Commissioners annually adopts fiscal year goals for the Executive Director to
accomplish in support of the Long Range Goals of the District.
Page 11
Historical Perspectives
Equalized Assessed Valuation (EAV) History
The Cary Park District boundaries determine the equalized assessed valuation (EAV) of the
District. The EAV is used to determine the tax rate applied to each taxable property based on the
District’s annual levy. A five-year history of the District’s EAV appears in the table below.
EAV by Levy Year
$800,000,000
Amount
$750,000,000
$700,000,000
$650,000,000
$600,000,000
$550,000,000
$500,000,000
$450,000,000
Levy Year
2009
2010
2011
2012
2013
$762,146,723
$725,505,244
$638,501,744
$569,861,646
$515,682,694
Tax Rate History
Taxes are collected in the fiscal year following the levy year, thus taxes collected in the
FY2014-15 Budget are produced by the 2013 Levy. Under tax cap legislation, the District’s tax
extension increase is limited to the lower of 5% or the increase in the CPI, plus new growth.
Although the District was entitled to a 1.7% CPI increase, the Board of Commissioners voted to
keep taxes at the same level as that of the prior year. A five-year history of the Park District tax
rate appears in the table below.
Tax Rate by Levy Year
0.85
0.80
0.75
0.70
0.65
0.60
0.55
0.50
Tax Rate
2009
2010
2011
2012
2013
0.5352
0.5752
0.6591
0.7580
0.8360
Levy Year
Page 12
Financial History
Operating revenues for the Park District are received in the form of real estate and personal
property replacement taxes, fees and charges, product sales, rentals, grants, bond proceeds,
investment interest, donations, and miscellaneous receipts. The combined total revenues for the
District for the past five years and the Proposed FY2014-15 Budget are identified in the table
below:
Total Revenues, 5-Year Actual & FY2014-15 Proposed Budget
Amount
$8,250,000
$8,000,000
$7,750,000
$7,500,000
$7,250,000
$7,000,000
Total Revenues
2009-2010
Actual
2010-2011
Actual
2011-2012
Actual
2012-2013
Actual
2013-2014
Projected
2014-2015
Proposed
$7,436,282
$7,372,254
$7,434,909
$7,788,214
$7,517,240
$7,684,232
Fiscal Year
Operating expenses are categorized as personnel and payroll related costs, professional services,
services, commodities, repairs and maintenance, and depreciation. Capital projects, as well as
purchases of major equipment, are categorized as capital. Debt service includes principal and
interest payments. The combined total expenditures for the District for the past five years and
the proposed FY2014-15 Budget are identified in the following table:
Total Expenditures, 5-Year Actual & FY2014-15 Proposed Budget
Amount
$9,500,000
$9,000,000
$8,500,000
$8,000,000
$7,500,000
$7,000,000
$6,500,000
Total Expenses
2009-2010
Actual
2010-2011
Actual
2011-2012
Actual
2012-2013
Actual
2013-2014
Projected
2014-2015
Proposed
$9,000,305
$7,735,003
$8,132,525
$7,047,051
$7,424,433
$7,724,260
Fiscal Year
Page 13
FY2014-15 Proposed Budget Breakdown
Revenues: Where does the money come from?
FY 2014-15 Budget Revenues, by Category
Merchandise, Food &
Beverage Sales
3%
Golf Fees, Charges &
Instruction
15%
Grants and Other Revenue
3%
Program Revenue
13%
Taxes
57%
Bond Proceeds
9%
Property and replacement taxes are the Park District’s largest revenue source, accounting for
57% of budgeted revenues. The Park District recognizes property taxes as revenue in the year
for which they are levied. The Corporate Replacement tax was enacted by the State of Illinois as
a replacement for personal property tax, the tax is distributed to local governments as a share of
the Corporate Income tax.
The Park District owns and, through contracted management, operates an 18-hole golf course
and lighted driving range. Golf fees, charges and instruction, at 15% of total revenue, are the
second largest revenue category.
Program revenue includes fees from various recreational activity programming, daily fees and
memberships from the Community Pool and Fitness Center, and fees from the operation of a
senior center, preschool and before and after school programs. Program revenue is the next
largest revenue category at 13% of the total.
Bond Proceeds are budgeted to account for 9%, merchandise, food and beverage sales will
contribute 3% and the remaining 3% will be provided by grants, investment income, donations
and developer contributions, facility rental and other miscellaneous revenue.
Page 14
Expenditures: How is the money spent?
FY 2014-15 Budget Expenditures, by Category
Debt Service
30%
Personnel & Payroll Related
Costs
32%
Depreciation, Repairs &
Maintenance
5%
Commodities
7%
Professional & Other
Services
20%
Capital
6%
Personnel & Payroll Related Costs are the largest expenditure category for the Park District at
32% of the total. This category includes salaries and wages, employer’s portion of the Social
Security tax, employer’s pension contribution, workers’ compensation insurance and group
health insurance premiums.
Debt Service is the second largest expenditure category at 30% of the total. It includes both
principal and interest payments payable during fiscal year 14/15.
Professional and Other Services is the next largest expenditure category at 20% of the total.
Payroll and payroll related costs for GolfVisions employees at the Foxford Hills Golf Club are
included within the Professional and Other Services category. Our member district dues for
funding the Northern Illinois Special Recreation Association are also included within this
category. Commodities purchases account for 7% of the District’s total expenditures. Supplies
for Recreation programs, park maintenance and the golf course are included in this category.
Capital purchases account for 6% of the District’s budget. Various park development and
improvement projects are included in this category. Capital equipment purchases are also
included in this category. The proposed budget includes $234,671 for purchases of capital
equipment through the Capital Equipment Replacement Fund. The remaining 5% includes
depreciation of assets related to the Foxford Hills Golf Club and expenditures related to repairs
and maintenance of facilities and equipment.
Page 15
What benefits does the community receive from the Park District?
The residents receive many benefits through the Cary Park District. The community is provided
over 860 acres of parks and open space at 47 different sites. The Park District operates a
Community Center with outdoor swimming, diving and children’s pools, exercise equipment,
programming, and banquet/meeting rooms. Outdoor facilities include playgrounds and playing
fields, picnic facilities, tennis and volleyball courts, a dog park, community garden plots, a skate
park, a prairie nature preserve and an outdoor amphitheatre. The Park District owns and, through
contracted management, operates an 18-hole golf course and lighted driving range. The Park
District also operates a Senior center, preschool, before and after school, and summer day camp
programs. The District also provides and maintains approximately 6.5 miles of trails.
Individual benefits to the community include
· a place for improved self-esteem and self-reliance
· a place for psychological and physical stress relief
· a balance between work and play
· personal development and growth
Social benefits to the community include
· an opportunity for connected families
· cultural understanding
· lifelines for our youngest and eldest members
· social bonding
Environmental benefits to the community include
· cleaner air and water
· better watershed
· trees and native plants
· preservation of open space
· source of community pride
Conclusion
We hope you have found this information to be beneficial to your understanding of the Cary Park
District’s operation and budget. The Park District is here to serve and meet your park and
recreation needs. We can only accomplish this through your continued and active involvement
in the community.
Thank you.
Page 16
Page 17
Cary Park District
For Fiscal Year Ending April 30, 2015
Summary Information
A number of summary financial reports have been included in the FY 14/15 Budget documents. These have
been provided to help you assess the current financial condition of the District. They will also guide you in
determining what effect the budgetary decisions to be made will have on the overall District fiscal results.
Budgetary Basis
All governmental funds are on a modified accrual basis for budgeting. This basis is in accordance with
Generally Accepted Accounting Principles (GAAP). The modified accrual basis records revenues at the
point they are earned (goods or services delivered) and they are available to pay current liabilities (bills due
within the next 30 days). Expenditures are recorded when the District has received the goods or services
rather than waiting until the bill is paid.
The Park District’s Enterprise fund, the Foxford Hills Golf Club Fund, is budgeted and reported on the full
accrual basis in accordance with GAAP. Revenues are recognized when earned without regard to when
they will be received (no 30 day rule). Expenses are recognized when the liability is incurred. In addition,
purchases that satisfy the capitalization criteria are recorded as fixed assets subject to depreciation as
opposed to being expensed under modified accrual.
Budgetary Highlights
Revenues
Excluding real estate taxes, revenues are being budgeted at approximately the same level as the FY13/14
budget, but 5.3% higher than the current year projection. With the abatement of the $69,553 in taxes for
levy year 2013, real estate taxes are slightly lower as compared to the prior levy year.
The District continues to pursue grants and is budgeting to receive $30,850 in FY14/15.
Expenditures
Overall, the District is budgeting for a minor increase in operating expenditures as compared to the prior
year budget. As compared to the current year projection, the FY 14/15 budget is 6.8% higher.
The District currently has 24 full-time positions. The proposed budget for FY 14/15 maintains the current
level of full-time staffing with no additional positions anticipated.
Depreciation is included for the fixed assets of the Enterprise fund, the Foxford Hills Golf Club Fund.
Capital includes any purchase or major repair that the District makes that meets the capitalization threshold
of the District.
The budget for Debt Service requirements reflects the refunding that was done in FY 13/14 which
eliminated certain debt issues and added the 2013A General Obligation Refunding Bonds.
Transfers In/Out
Transfers between funds have been eliminated for presentation of the District’s Proposed Budget – All
Funds. Subsequent fund detail presentations will include fund transfer amounts.
Page 18
Cary Park District
Proposed Budget for Fiscal Year Ending April 30, 2015
All Funds
Proposed
Budget
Revenues
Real Estate Tax
Replacement Tax
Program Revenue
Golf Fees & Charges
Golf Instruction
Merchandise, Food & Beverage Sales
Facility Rental
Investment & Service Fees
Grants
Bond Proceeds
Donations/Developer Contributions
Advertising
Miscellaneous
$
Fiscal Year Ended April 30, 2014
Projected
Budget
4,311,123 $
47,850
1,019,846
1,155,742
8,980
250,780
119,955
4,747
30,850
675,500
28,934
3,750
26,175
4,315,061 $
47,377
922,926
1,067,669
8,204
238,112
107,345
4,576
12,500
670,311
88,750
3,688
30,721
4,319,285
37,000
1,057,880
1,152,925
9,390
243,006
120,567
7,683
16,000
663,500
13,902
2,250
36,951
Total Revenues
7,684,232
7,517,240
7,680,339
Expenditures
Operating
Services
Commodities
Depreciation
2,490,945
872,124
655,763
494,240
296,404
113,945
2,388,637
811,400
546,114
452,130
299,108
114,417
2,493,275
848,560
603,276
490,215
336,709
114,046
Total Operating
4,923,421
4,611,806
4,886,081
456,171
394,181
662,843
Debt Service
G.O. Limited Tax Park Bond & Interest
2003A/2003B Alternate Revenue Bonds
2004B/2005 Advance Refunding Bonds
2005A Advance Refunding Bond
2013A General Obligation Refunding Bonds
Debt Certificates 2004
Debt Certificates 2009
Net Amortization of Other Bond Costs
679,777
1,162,820
547,782
4,673
(50,384)
668,417
122,060
1,145,895
292,500
75,467
129,508
6,249
(21,650)
668,417
122,060
1,145,895
292,500
197,376
6,249
5,718
Total Debt Service
2,344,668
2,418,446
2,438,215
Total Expenditures
7,724,260
7,424,433
7,987,139
Capital
Net Addition (Reduction) to Fund Balance
Beginning Fund Balance May 1, 2014 (2013)
Ending Fund Balance April 30, 2015 (2014)
Page 19
(40,028)
$
3,079,650
3,039,622
92,807
$
2,986,843
3,079,650
$
(306,800)
Cary Park District
Budget Summary
Revenues
Fund
Corporate
Recreation
Foxford Hills Golf Club
Developers' Donations
Adv Refunding Bond & Interest 2004/2005
Refunding Alternate Bond & Interest 2013A
Audit
Capital Projects
Liability Insurance
Capital Equipment Replacement
IMRF/Social Security
Paving & Lighting
Special Recreation
Cary Prairie Heritage
Totals
Non Tax
Revenue
$
779,246
1,084,529
1,415,666
22,680
300
Tax Revenue
$ 1,852,739
1,264,738
Expenditures
Reduction to
Transfers In Fund Balance
$
772,990
610,223
Operating
Expenditures
$ 1,505,363
1,517,958
1,259,503
Addition to
Transfers Out Fund Balance
$ 1,840,285 $
20,627
772,990
44,319
103,902
52,261
22,680
679,777
1,162,820
398,169
-
Debt Service
$
-
69,254
1,162,820
398,169
4
175
90
21,911
185
41
312
120
$
3,325,259
9,000
471
24,329
8,316
77,760
6,815
144,296
145,000
135,000
265,000
6,000
206,273
$
4,358,973
$
2,613,275
Note: Tax Revenue includes an estimated $ 47,850 in Personal Property Replacement Tax.
Page 20
Capital
Expenditures
$
38,700
14,000
$
186,945
9,475
168,800
153,406
234,671
272,000
6,000
199,716
$
456,171
$
4,923,421
41
6,869
120
$
2,344,668
$
2,613,275
$
146,917
Cary Park District
Use of Funds by Category (Excluding Transfers Out)
$
38,700
14,000
113,945
103,902
679,777
1,162,820
398,169
9,475
168,800
99,801
905
52,470
230
234,671
272,000
$ 1,544,063
1,531,958
1,363,405
679,777
1,162,820
398,169
9,475
168,800
153,406
234,671
272,000
6,000
199,716
-
$ 1,369,875
1,527,180
1,452,706
668,417
122,060
1,145,895
292,500
9,200
250,238
74,051
94,160
271,514
1,000
145,637
-
$ 1,411,962
1,644,581
1,536,839
5,000
668,417
122,060
1,145,895
292,500
9,200
447,391
82,999
160,234
276,000
1,000
183,061
-
$ 7,424,433
$ 7,987,139
10,748
120,993
2,575
7,350
6,000
58,050
Total Agency
$ 2,490,945
$ 872,124
$ 655,763
$ 494,240
$ 296,404
$ 113,945
$ 456,171
$ 2,344,668
$ 7,724,260
13-14 Projected
$ 2,388,637
$ 811,400
$ 546,114
$ 452,130
$ 299,108
$ 114,417
$ 394,181
$ 2,418,446
$ 7,424,433
13-14 Budget
$ 2,493,275
$ 848,560
$ 603,276
$ 490,215
$ 336,709
$ 114,046
$ 662,843
$ 2,438,215
$ 7,987,139
Page 21
t
13
-14
Bu
dg
e
itie
s
Se
rvi
ce
$
13
-14
Pr
oje
cte
d
-
To
tal
s
$
De
bt
$ 84,615
63,829
83,910
Ca
pit
al
$ 125,679
120,793
240,188
on
Re
pa
irs
$ 130,899
321,458
148,361
cia
ti
Co
mm
od
$ 56,472
20,869
663,410
De
pre
Se
rvi
ce
s
&M
ain
ten
an
ce
Pr
ofe
ss
ion
al
$ 1,107,698
991,009
9,689
Se
rv
Pe
rs
Re onne
lat
ed l & P
Co ayr
sts oll
FUND
Corporate
Recreation
Alternate Bond & Interest 2003 A/B
Adv Refunding Bond & Interest 2005A
Audit
Capital Projects
Liability Insurance
Paving & Lighting
Special Recreation
ice
s
14-15 Proposed Budget
Cary Park District
Proposed Budget Summary
Fiscal Year Ending April 30, 2015
Fund Balances
Fund
Corporate
(actual)
Balance
5/1/2013
$ 1,112,808
projected
Increase
Balance
(Decrease)
5/1/2014
$
181,613
$
proposed budget
Increase
Balance
(Decrease)
5/1/2015
1,294,421
$
20,627
$
1,315,048
Recreation
398,628
(19,138)
379,490
44,319
423,809
107,875
(135,161)
(27,286)
52,261
24,975
101,868
(12,759)
89,109
22,680
111,789
69,101
68,798
(69,254)
(303)
(456)
Alternate Bond & Interest 2003 A/B
-
-
-
-
-
-
-
-
-
-
Adv Refunding Bond & Interest 2005A
-
-
-
-
-
-
-
-
-
-
Audit
Capital Projects
2,306
(209)
2,097
(471)
1,626
149,292
55,633
204,925
(24,329)
180,596
58,801
970
59,771
(8,316)
51,455
517,842
59,480
577,322
(77,760)
499,562
112,116
(6,589)
105,527
(6,815)
98,712
Paving & Lighting
110,624
(99,085)
11,539
41
11,580
Special Recreation
269,994
(1,230)
268,764
6,869
275,633
45,173
120
45,293
Liability Insurance
Totals
Page 22
44,992
$ 2,986,843
181
$
92,807
$
3,079,650
$
(40,028) $
3,039,622
Page 23
Cary Park District
Budget for Fiscal Year Ending April 30, 2015
Fund Information
Corporate Fund
Fund Description
The Corporate Fund accounts for the general revenues and expenditures of the Park District which are not
included in another fund.
Revenues
Revenues for the Corporate Fund include the tax levy, an allocation by the State of Illinois of the Personal
Property Replacement Tax, grants, and proceeds of the annual issuance of the G.O. Limited Tax Park
Bond. The Corporate Fund also includes revenues generated from the rental of non-recreational facilities,
and an allocated portion of investment income earned by the District.
Grants included in the budget are as follows:
· $21,600 from the Illinois Youth Recreation Corps which was established for making grants to
local governments to provide wages to youth operating and instructing in recreational and
conservation programs.
· $8,000 from the Illinois Green Fleets program for the conversion of park vehicles from gasoline
to propane fuel.
· $1,250 from the ComEd Green Regions grant program to be used in the support of natural area
projects.
Transfer In
A Transfer In of $772,990 from the Recreation Fund to be used for various District expenditures is
included in the FY 14/15 proposed budget.
Expenditures
Operating Expenditures
Expenditures related to general District operations, planning, and park operations are included within the
Corporate Fund.
Capital
The capital expenditure of $38,700 is to fund the redesign of the District website, two propane conversion
kits for park vehicles, and the installation of sun tunnel skylights at the park maintenance garage.
Transfers Out
Through the use of corporate tax revenue and the proceeds of the G.O. Limited Tax Park Bond annual
issue, the District transfers out funding for the debt service due on the 2005 & 2013A debt issues. Transfers
for the funding of the Capital Projects Fund and the Capital Equipment Replacement Fund are also being
budgeted in the Corporate Fund.
Assigned Fund Balance
An assignment of the Fund Balance in the amount of $165,000 is included in the proposed budget to record
the current loan outstanding and possible additional assistance to the Foxford Hills Golf Club in paying
debt service resulting from the purchase of the golf club.
Page 24
Cary Park District
Proposed Budget By Fund
Corporate Fund
Proposed
Budget
Revenues
Real Estate Tax
Replacement Tax
Facility Rental
Investment & Service Fees
Bond Proceeds
Donations
Advertising
Grant Revenue
Miscellaneous
Transfer In - Recreation Fund
$
1,804,889
47,850
66,735
1,986
675,500
750
250
30,850
3,175
772,990
Projected
Budget
$
1,985,321
47,377
56,978
1,924
667,420
750
250
12,500
2,838
567,334
$
1,987,266
37,000
65,369
3,225
663,500
750
500
16,000
2,800
568,454
Total Revenues and Transfers In
3,404,975
3,342,692
3,344,864
Expenditures
General - Operating
Services
Commodities
433,225
24,929
94,457
39,391
1,000
443,807
20,238
74,899
20,330
505
453,310
28,042
87,609
31,118
1,075
Total General - Operating
593,002
559,779
601,154
Parks & Planning - Operating
Services
Commodities
674,473
31,543
36,442
86,288
83,615
609,377
10,312
21,162
76,376
79,971
599,405
13,017
24,046
72,694
81,530
Total Parks & Planning - Operating
912,361
797,198
790,692
38,700
-
7,218
12,898
12,898
Capital
Debt Service
-
Transfers Out
Transfer Out - Adv Refunding Bond 2004/2005 Fund
Transfer Out - Advance Refunding Bond 2005A Fund
Transfer Out - Alt Bond 2003 A/B Fund
Transfer Out - Refunding Alt Bond & Interest 2013A
Transfer Out - G.O. Limited Tax Park Bond & Interest
Transfer Out - Capital Equipment Replacement Fund
Transfer Out - Capital Projects Fund
1,162,820
398,169
135,000
144,296
1,145,895
292,500
122,060
69,553
135,000
26,196
1,145,895
292,500
122,060
135,000
93,074
Total Transfers Out
1,840,285
1,791,204
1,788,529
Total Expenditures and Transfers Out
3,384,348
3,161,079
3,200,491
20,627
181,613
1,294,421
1,112,808
Net Addition to Fund Balance
$
1,315,048
$
1,294,421
Assigned Fund Balance for Interfund Loan
Unassigned Fund Balance
$
165,000
1,150,048
1,315,048
$
144,373
1,150,048
1,294,421
$
Page 25
$
$
144,373
$
144,373
1,077,372
1,221,745
$
Cary Park District
Fund Information
Recreation Fund
Fund Description
The Recreation Fund accounts for the revenues and expenditures, including facility and field maintenance,
related to the various recreation programs of the District.
Revenues
Financing is provided by a combination of program and other fees, a tax levy and an allocated portion of
investment income earned by the District.
Program receipts, in comparison to the Projection for FY 13/14, are projected to increase due to a number of
factors, including the following:
1. Anticipated increase in enrollment across all camps offered during the summer (Tiny Tots Camp,
Sunshine Camp, Sunshine Flex Camp, Camp ECHO, ECHO Extreme, ECHO Flex and Before/After
Camp). Even though there was a slight decrease (4.88%) in total camper enrollment in 2013 compared
to 2012, we anticipate with changes made this off-season, enrollment will increase for both repeat
campers and new campers.
2. Continued effort to add elements to Camp ECHO that take advantage of the great opportunity to utilize
the Fel-Pro/RRR site with our licensee agreement with McHenry County Conservation District. This is
our third summer utilizing the site and new elements have been introduced each summer to be attractive
to the school age camper. This is also the final year of our current license agreement and we would like
to work with MCCD to extend our agreement.
3. Continued positive enrollment in the Preschool program. For the 2014-2015 School Year, changes
have been made to the 3 year old program (a 2 day and 3 day option), which we hope will assist in
reaching maximum enrollment for this age group. During the entire 2013-2014 School Year, Preschool
enrollment was about 5 students from reaching total capacity.
4. The Community Center pool will again be open for Memorial Day weekend which should increase the
number of pool memberships and daily walk-ins. We have continued with the special “member only”
early admission on Sundays, additional Family Swim on Wednesday evenings, the Open House event in
June and the Luau Day special event in July. Monthly specials have also been added for June, July and
August which should increase the number of pool visitors.
5. Continued effort to increase Fitness Center memberships, general programming and Community Center
rentals with the addition of a local Liquor License.
Expenditures
Expenditures related to various recreational programs and facility maintenance are found within the Recreation
Fund. Staff has taken various factors into account to control and monitor expenditures.
1. Continued evaluation of part time year round staff and the benefits of employee verses independent
contractors.
2. Continued evaluation of seasonal staff positions and the number of staff rehired verses new hires.
3. Continued effort to maintain the cardio and strength machines in the Fitness Center. Money is included
in the proposed budget for general repairs and preventative maintenance.
4. Anticipated increase in building rental fees associated with the ET KidZone program.
Capital
The capital expenditure of $14,000 is for the purchase of a new piece of cardio equipment and the replacement
of a current treadmill for the Fitness Center.
Transfers Out
A transfer of $772,990 to the Corporate Fund is being budgeted to provide funding for various District
expenditures.
Page 26
Cary Park District
Recreation Fund
Proposed
Budget
Revenues
Real Estate Tax
Program Revenue
Facility Rental
Investment Income
Donations
Advertising
Miscellaneous
Transfer In - Special Recreation Fund
$
1,264,738
1,019,846
53,220
863
5,600
3,500
1,500
-
Projected
Budget
$
1,075,603
922,926
50,367
837
8,956
3,438
6,249
7,000
$
1,076,657
1,057,880
55,198
1,030
6,520
1,750
7,000
7,000
2,349,267
2,075,376
2,213,035
Expenditures
Facility Maintenance - Operating
Services
Commodities
79,335
112
9,186
18,457
61,154
84,740
286
9,355
24,572
67,336
120,548
235
8,548
18,160
69,169
Total Facility Maintenance - Operating
168,244
186,289
216,660
Recreation - Operating
Services
Commodities
911,674
20,757
312,272
102,336
2,675
924,657
16,923
263,226
85,030
1,272
981,172
20,244
279,695
100,660
3,150
1,349,714
1,291,108
1,384,921
14,000
49,783
43,000
772,990
567,334
568,454
2,304,948
2,094,514
2,213,035
Total Recreation - Operating
Capital
Transfers Out - Corporate Fund
Page 27
$
44,319
(19,138)
379,490
398,628
423,809
$
379,490
$
-
Cary Park District
Fund Information
Foxford Hills Golf Club Fund
Fund Description
The Foxford Hills Golf Club Fund accounts for the revenues and expenses of the Foxford Hills Golf Club
(FHGC). The FHGC Fund is an Enterprise Fund. The fund is prepared on the full accrual basis of
accounting. The intent of the Park District is that the costs of providing goods and services be recovered
through user charges and sales. GolfVisions Management Inc., an agent of the Cary Park District is
operating the course on behalf of the Park District. The business model used to assemble this budget was
based upon previous year’s results and a conservative viewpoint that the golf market is slowly recovering.
Last year’s results were affected by the economy and wet weather. Limited growth is anticipated in all
facets of the business. As operators we are wary of the affects of the economy, gas prices, high
unemployment rates and a tendency of golfers to play on price alone rather than quality.
Revenues
Funds are accumulated through user charges and sales. User charges include green fees, cart rentals, a new
season pass program, new junior golf league through the PGA of America, lessons, permanent tee time
fees, and driving range bucket sales. Green fees are booked via the course website and through phone
reservations. Driving range bucket sales are associated primarily with individual pre round warm up and
local golfers looking for a practice range that is in close proximity and convenient. The sales portions of
revenues are generated by merchandise, food and beverage sales. Food and beverage sales take place both
in the clubhouse and out on the course, as well as special offerings with the course’s ‘After 7’ program via
in-house catering that allows guests using the banquet room a more private setting. Merchandise includes
items contained within the pro shop including apparel, shoes, hats, gloves and a variety of golf equipment.
The golf course is marketed through various media including the Chicago Tribune, e-blasts, advertisements
on our on-line booking engine, the Golf Channel’s Golf Now computer booking engine, ‘The Golf Scene’
link on our website, Golf Now magazine, foxfordhillsgolfclub.com website, golfvisions.net website, and in
the Park District’s seasonal brochures and flyers distributed to local schools
Operating Expenses
Operating expenses include the materials, supplies and services necessary to operate the course. It also
includes advertising and marketing, reimbursement of payroll expense and the monthly management fee for
GolfVisions. The reimbursement of payroll costs, including taxes and insurance of GolfVisions employees
working at the course are included in the Professional Services category and account for 47.4% of total
operating expenses. For fiscal 14/15, Repairs and Maintenance expense is being budgeted to decrease as the
prior year included the cost ($46,312) for the 4 year replacement of the batteries for the fleet of golf carts
purchased in 2009.
Nonoperating Revenues (Expenses)
The Fund receives an allocated portion of investment income earned by the District. Debt service
payments on the 2009 Debt Certificates, which were used to fund the acquisition of new golf carts are paid
from this fund. The portion of the debt service payments on the General Obligation Refunding Bonds
(Alternate Revenue Source) Series 2013A, that refunded the 2004 Debt Certificates, are also paid from this
fund. As principal payments on the debt service reduce the recorded liability for outstanding debt under full
accrual accounting, only interest is being budgeted as an expense. Debt issuance costs of the 2009 Debt
Certificates and the Series 2013A Refunding Bonds relating to Foxford Hills have been recorded as a
deferred charge on the Balance Sheet and will be amortized over the life of the debt.
Page 28
Cary Park District
Foxford Hills Golf Club Fund
Proposed
Budget
Operating Revenues
Golf Course Fees & Charges
Golf Instruction
Merchandise, Food & Beverage Sales
$
Total Operating Revenues
1,155,742
8,980
250,780
Projected
Budget
$
1,067,669
8,204
238,112
$
1,152,925
9,390
243,006
1,415,502
1,313,985
1,405,321
9,689
663,410
148,361
240,188
83,910
113,945
17,804
636,241
131,532
240,488
131,289
114,417
28,037
655,164
151,749
255,613
125,785
114,046
1,259,503
1,271,771
1,330,394
155,999
42,214
74,927
Nonoperating Revenues (Expenses)
Investment Income
Other Income (Expense)
Gain on Disposal of Assets
Interest Expense - Debt Certificates 2004
Interest Expense - Debt Certificates 2009
Interest Expense - 2013A G.O. Refunding
Net Amortization of Other Bond Costs
164
(4,673)
(149,613)
50,384
104
(3,553)
2,750
(116,610)
(6,249)
(75,467)
21,650
600
(10,000)
1,300
(184,478)
(6,249)
(5,718)
Total Nonoperating Revenues (Expenses)
(103,738)
(177,375)
(204,545)
52,261
(135,161)
(27,286)
107,875
Operating Expenses
Services
Commodities
Depreciation
Total Operating Expenses
Operating Income
Change in Net Position
Beginning Net Position (Deficit) May 1, 2014 (2013)
Ending Net Position (Deficit) April 30, 2015 (2014)
Page 29
$
24,975
$
(27,286)
$
(129,618)
Cary Park District
Fund Information
Developers’ Donations Fund
Fund Description
The Developers’ Donations Fund accounts for required impact fees received for new developments. Funds
are used for the development of the particular subdivision’s park(s), community wide facilities and
community related projects. It also provides funds for the purchase of additional equipment required as a
result of the development of new parks.
Revenues
Impact fees in the budget are based on the estimated construction permits to be issued. An allocated
portion of investment income earned by the District is also received by the fund. During the current year,
14 impact fees have been received. The District is budgeting that this level may not be sustainable for fiscal
14/15.
Expenditures
No expenditures are included in the proposed budget to aid in the buildup of funding for future projects.
Page 30
Cary Park District
Developers' Donations Fund
Proposed
Budget
Revenues
Investment Income
Developer Contributions
$
Total Revenues
Projected
Budget
96
22,584
$
82
79,044
$
140
6,632
22,680
79,126
6,772
Expenditures
Capital - Other Capital
-
-
5,000
Transfers Out - Capital Projects Fund
-
91,885
91,885
-
91,885
96,885
22,680
(12,759)
89,109
101,868
Page 31
$
111,789
$
89,109
$
(90,113)
Cary Park District
Fund Information
G.O. Limited Tax Park Bond & Interest Fund
Fund Description
The G.O. Limited Tax Park Bond & Interest Fund accounts for the accumulation of resources for, and the
payment of general obligation debt principal and interest.
Revenues
Financing for the G.O. Limited Tax Park Bond & Interest is provided by a tax levy and an allocation of
investment income earned by the District. In order to “hold the line” on taxes, the District used currently
available funds, rather than extending taxes, for a portion ($69,553) of the debt service payment on this
issue. These funds were transferred at the time of the authorizing abatement ordinance in fiscal 13/14.
Expenditures
The principal and interest due on these bonds are paid from this fund. The bonds are issued and retired
annually.
Page 32
Cary Park District
G.O. Limited Tax Park Bond & Interest Fund
Proposed
Budget
Revenues
Real Estate Tax
Investment Income
Transfer In - Corporate Fund
$
610,223
300
-
Projected
Budget
$
667,764
201
69,553
$
668,417
303
-
610,523
737,518
668,720
Expenditures
Debt Service
Principal
Interest
672,920
6,857
665,595
2,822
665,595
2,822
Total Expenditures
679,777
668,417
668,417
(69,254)
69,101
Beginning Fund Balance (Deficit) May 1, 2014 (2013)
Ending Fund Balance (Deficit) April 30, 2015 (2014)
Page 33
68,798
$
(456)
(303)
$
68,798
$
303
Cary Park District
Fund Information
Alternate Bond & Interest Fund 2003 A/B
Fund Description
The Alternate Bond & Interest Fund 2003 A/B accounted for the accumulation of resources for the
payment of debt principal and interest on the 2003A/2003B Alternate Revenue Bonds.
Revenues
A portion of the proceeds from the annual G.O. Limited Tax Park Bond provides the funding for the
principal and interest on these bonds. A transfer is made from the Corporate Fund to this fund for the
annual debt service payments.
Expenditures
The final payment on the Series A bond issue and the next scheduled payment on the Series B bond issue
were paid in December 2013. At that time, the remaining debt on the Series B bond issue was paid off
through a portion of the proceeds from the issuance of General Obligation Refunding Bonds, Series 2013A.
Therefore, the District is closing this fund.
Page 34
Cary Park District
Alternate Bond & Interest Fund 2003 A/B
Proposed
Budget
Revenues
$
Projected
Budget
-
$
122,060
$
122,060
Expenditures
Debt Service
Principal
Interest
-
80,000
42,060
80,000
42,060
Total Expenditures
-
122,060
122,060
-
-
-
-
$
-
$
NOTE - The Alternate Bond & Interest Fund 2003 A/B will be closed as of April 30, 2014.
Page 35
-
$
-
Cary Park District
Fund Information
Advance Refunding Bond & Interest Fund 2004/2005
Fund Description
The Advance Refunding Bond & Interest Fund 2004/2005 accounts for the accumulation of resources for,
and the payment of debt principal and interest related to the General Obligation Park Refunding Bonds,
Series 2004B and Series 2005. The final payment on the Series 2004B bond issue was paid in December
2012. The final payment on the Series 2005 bond issue is scheduled to be paid in December 2017.
Revenues
Since the District’s Corporate Fund provides the funding for the debt service on this bond issue, a transfer
is made from the Corporate Fund to this fund for the annual debt service payments.
Expenditures
The principal and interest due on these bonds are paid from this fund.
Page 36
Cary Park District
Advance Refunding Bond & Interest Fund 2004/2005
Proposed
Budget
Revenues
$
Expenditures
Debt Service
Principal
Interest
Projected
Budget
1,162,820
$
1,145,895
$
1,145,895
995,000
167,820
945,000
200,895
945,000
200,895
1,162,820
1,145,895
1,145,895
-
-
-
-
Total Expenditures
Page 37
$
-
$
-
$
-
Cary Park District
Fund Information
Advance Refunding Bond & Interest Fund 2005A
Fund Description
The Advance Refunding Bond & Interest Fund 2005A accounted for the accumulation of resources for, and
the payment of debt principal and interest related to the General Obligation Park Refunding Bonds, Series
2005A.
Revenues
A portion of the proceeds from the annual G.O. Limited Tax Park Bond provides the funding for the
principal and interest on these bonds. A transfer is made from the Corporate Fund to this fund for the
annual debt service payments.
Expenditures
The scheduled payment on the bond issue was paid in December 2013. At that time, the remaining debt on
the bond issue was paid off through a portion of the proceeds from the issuance of General Obligation
Refunding Bonds, Series 2013A. Therefore, the District is closing this fund.
Page 38
Cary Park District
Advance Refunding Bond & Interest Fund 2005A
Proposed
Budget
Revenues
$
Projected
Budget
-
$
292,500
$
292,500
Expenditures
Debt Service
Principal
Interest
-
225,000
67,500
225,000
67,500
Total Expenditures
-
292,500
292,500
-
-
-
-
$
-
$
-
NOTE - The Advanced Refunding Bond & Interest Fund 2005A will be closed as of April 30, 2014
Page 39
$
-
Cary Park District
Fund Information
Refunding Alternate Bond & Interest Fund 2013A
Fund Description
The Refunding Alternate Bond & Interest Fund 2013A accounts for the accumulation of resources for, and
the payment of a portion of debt principal and interest related to the General Obligation Refunding Bonds
(Alternate Revenue Source), Series 2013A. The remainder of the debt service due will be paid from the
Foxford Hills Golf Club Fund. The final payment on the Series 2013A bond issue is scheduled to be paid in
December 2022.
Revenues
Since the District’s Corporate Fund provides the funding for the debt service on this bond issue, a transfer
is made from the Corporate Fund to this fund for the annual debt service payments.
Expenditures
The principal and interest for the current refunding of Series 2003B and Series 2005A, due on these bonds,
are paid from this fund. Principal and interest for a portion of the current refunding of the 2004 Debt
Certificates, for proceeds of the 2004 Debt Certificates that were transferred to the Capital Fund, are also
paid from this fund.
Page 40
Cary Park District
Proposed
Budget
Revenues
Bond Proceeds (Net)
$
Projected
Budget
398,169
$
2,891
-
$
-
398,169
2,891
-
Expenditures
Debt Service
Principal
Interest
301,688
96,481
-
-
Total Debt Service
398,169
-
-
-
2,891
-
398,169
2,891
-
-
-
-
-
Total Expenditures and Transfer Out
Page 41
$
-
$
-
$
-
Cary Park District
Fund Information
Audit Fund
Fund Description
The Audit Fund accounts for the disbursements related to the annual audit.
Revenues
A tax is levied to fund the cost of the annual audit. The fund also receives an allocated portion of the
Expenditures
The cost of the annual audit of the Park District’s financial statements is disbursed from this fund.
Page 42
Cary Park District
Audit Fund
Proposed
Budget
Revenues
Real Estate Tax
Investment Income
$
9,000
4
Projected
Budget
$
8,988
3
$
9,000
5
Total Revenues
9,004
8,991
9,005
Expenditures
9,475
9,200
9,200
Net (Reduction) to Fund Balance
(471)
Page 43
(209)
2,097
$
1,626
2,306
$
2,097
$
(195)
Cary Park District
Fund Information
Capital Projects Fund
Fund Description
The Capital Projects Fund accounts for financial resources and expenditures for capital projects, major
repairs/renovations and capital grants received.
Revenues
Funding for the Capital Projects Fund in the proposed FY 14/15 budget will be provided by a transfer from
the Corporate Fund and an allocated portion of investment income earned by the District. In addition, a
transfer was made in April, 2014 (FY 13/14) from the Special Recreation Fund for funding of accessibility
related costs in construction of a trail at Lions Park. Construction of the trail is expected to begin in late
April 2014 and will be completed in FY 14/15.
Expenditures
Major Board approved projects included in the FY 14/15 Capital Projects Fund proposed budget are:
Lions Park Access Trail – planning and construction
Update of the District’s Master Plan
Legal Services – Cary Grove Annexation
$ 98,800
50,000
20,000
The Park District also plans to evaluate the Preschool building during the year to identify needed repairs.
Page 44
Cary Park District
Capital Projects Fund
Proposed
Budget
Revenues
Investment Income
Transfer In - Developers' Donations Fund
Transfer In - Paving & Lighting Fund
Transfer In - Special Recreation Fund
Transfer In - Refunding Alt Bond & Interest 2013A Fund
$
175
144,296
-
Projected
Budget
$
184
26,196
91,885
108,115
76,600
2,891
$
450
93,074
91,885
108,115
71,855
-
144,471
305,871
365,379
Expenditures
Capital - Various Capital Projects
168,800
250,238
447,391
(24,329)
55,633
204,925
149,292
Page 45
$
180,596
$
204,925
$
(82,012)
Cary Park District
Fund Information
Liability Insurance Fund
Fund Description
The Liability Insurance Fund accounts for property, liability and worker’s compensation insurance
premium expenses and risk management expenditures. It is also responsible for the reimbursement to the
State of Illinois for any unemployment payments made by the State that are chargeable to the District.
Revenues
Financing for the Liability Insurance Fund is provided by a tax levy and an allocated portion of investment
income earned by the District.
Expenditures
The District is a member of the Park District Risk Management Agency (PDRMA); a Pooled Risk
Organization comprised of park districts, special recreation associations and forest preserve/conservation
districts throughout Illinois. PDRMA provides coverage for property, liability and worker’s compensation
claims. The Park District is responsible for a $1,000 deductible per claim for damage to Park owned
property.
The District is self insured for unemployment claims as opposed to a tax applied to the District’s payroll by
the State to fund future claims. Therefore the District must reimburse the State of Illinois for the cost of any
benefits paid to a claimant as they occur.
Beginning in FY 14/15 the District will account for the cost of its Safety and Risk Manager in the Liability
Insurance Fund. This cost was previously paid through the Corporate and Recreation Funds.
Page 46
Cary Park District
Liability Insurance Fund
Proposed
Budget
Revenues
Real Estate Tax
Investment Income
$
Total Revenues
Expenditures
Operating
Services
Commodities
Total Expenditures
145,000
90
$
75,000
175
75,175
99,801
905
52,470
230
26,174
1,937
45,940
-
26,370
5,000
51,629
-
153,406
74,051
82,999
59,771
Page 47
74,931
90
75,021
(8,316)
$
$
145,090
Projected
Budget
51,455
970
58,801
$
59,771
$
(7,824)
Cary Park District
Fund Information
Capital Equipment Replacement Fund
Fund Description
The Capital Equipment Replacement Fund provides a funded reserve for the systematic replacement of
existing non-recreation maintenance equipment, mechanical equipment and vehicles.
Revenues
The Corporate Fund provides funding for the Capital Equipment Replacement Fund. As such, a transfer is
being budgeted from the Corporate to the Capital Equipment Replacement Fund. Sales proceeds are
reported separately within the Capital Equipment Replacement Fund since the funding schedule is based on
expected purchase price. The Capital Equipment Replacement Fund also receives an allocated portion of
Expenditures
During the upcoming fiscal year, the following items are scheduled for replacement.
Purchase Year
1995
1996
1998
2003
2003
2005
2007
2008
2009
Equipment to Be Replaced
East Roof Top Carrier Model 48HJE007
Carrier Weathermaker 8000 Furnace/Condenser – Community Center
2 (two) Trane Furnace/Condenser Units – Kraus Senior Center
2003 Ford F-250 Regular Cab
Telephone System (including 2009 expansion)
2005 Backhoe Loader
Sand Pro 3040 / Grader, Blade, Attachments
2008 Ford F-350 4x4/Plow & Spreader
Z580 Zero Turn Mower
Although scheduled for replacement, currently owned equipment is evaluated before replacement to
determine whether the unit is still functional and reliable, without incurring major repair costs. Therefore
scheduled replacements may be delayed to the following fiscal year.
Page 48
Cary Park District
Proposed
Budget
Revenues
Sale of Assets
Investment Income
$
21,500
411
135,000
Projected
Budget
$
18,178
462
135,000
$
23,611
750
135,000
Total Revenues and Transfer In
156,911
153,640
159,361
Expenditures
Capital
234,671
94,160
160,234
(77,760)
59,480
577,322
517,842
Page 49
$
499,562
$
577,322
$
(873)
Cary Park District
Replacement Value and Purchase Years(s)
FYE 4/30/2015 - 4/30/2024
ESTIMATED REPLACEMENT VALUE
Year
Purch.
Description
Vehicles
06/03 2003 Ford F-250 Regular Cab
09/05 2005 Ford F150 (White)
05/06 Boom Truck
04/08 2008 Ford F-350
08/08 2008 Ford F-350 4x4/Plow & Spreader
11/08 2009 International 7400 4x2 - with 10' Dump
11/09 2010 Ford Escape
01/11 2011 Ford Ranger XLT
10/11 2012 Ford F350 Super Duty with propane kit
11/11 2012 Ford F350 4x2 with propane kit
11/11 2012 Ford F350 Pickup with propane kit
07/13 2013 Ford F150 SuperCrew 4x4
10/13 2014 Ford F250SD
Mowers & Motorized Equipment
11/02 Toro Topdresser - 2001 - purchased used
02/03 20' Flatbed Redi-Haul Trailer
04/03 AE-80 aerator with 80" seeder&Rake
09/03 John Deere 5420 Utility Tractor
09/03 Attachments for John Deere Tractor
08/04 600-gallon Skid Mount Hydroseeding Unit
09/04 Batwing Mower
03/05 Morbark Model 13 Tornado Chipper
03/05 2005 Backhoe Loader
03/05 Auguer Unit
08/06 Vehicle Lift
08/07 Sand Pro 3040 / Grader, Blade, Attachments
09/07 Bannerman 6' Aerator
10/07 Skid Steer, John Deere
06/08 John Deere Gator TH 6x4
01/09 Redi Haul Skidload Trailer
06/09 Z580 Zero Turn Mower
08/10 Toro Groundsmaster 5910
08/10 Toro GS Propane Mower With 72" deck
06/11 2011 John Deere Utility Cart
02/13 72" Industrial Brush Cutter
07/13 72" Zero Turn Mower Propane
08/13 Kifco T180 Water Reel
Misc. Items
06/03 Telephone System
08/09 CC Telephone System Expansion
08/07 Electronic Sign
04/13 Copier, Savin, (Admin)
Subtotal
Page 50
Original
Cost
Est. Repl.
Cost
Life
Expect
FY14-15
$
FY15-16
$
$
$
$
$
$
$
$
$
$
$
$
$
17,174
19,503
76,871
33,885
36,394
98,524
26,884
16,676
34,803
32,155
36,782
26,504
30,127
$ 21,353
$ 23,774
$ 93,705
$ 39,702
$ 40,986
$ 120,100
$ 30,275
$ 19,155
$ 39,978
$ 36,936
$ 42,251
$ 30,445
$ 34,606
7
7
10
7
7
10
5
7
7
7
7
7
7
$
$
$
$
$
2,800
6,818
10,509
39,070
7,932
$
$
$
$
$
6,316
8,820
13,595
48,654
10,675
10
10
10
10
10
$
$
$
$
6,316
8,820
13,595
48,654
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
6,795
9,974
33,095
75,810
5,450
15,536
15,278
6,000
28,083
7,125
5,900
11,119
79,695
10,959
17,725
5,490
10,800
10,189
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
8,449
12,401
41,149
92,412
6,776
20,909
17,549
7,030
34,234
8,184
7,192
12,276
97,147
12,100
20,360
6,306
11,924
12,420
7
10
10
10
10
15
7
7
10
7
10
5
10
5
7
7
5
10
$
$
$
8,449
12,401
41,149
$
6,776
$
$
$
$
10,510
5,911
39,143
6,125
$
$
$
$
13,068
6,526
52,681
7,036
10
10
15
7
FY16-17
FY18-19
23,774
$
39,702
$
FY22-23
FY23-24
24,528
$
28,980
$
45,605
47,080
120,100
30,275
$
$
33,426
$
$
30,445
34,606
19,155
$
$
$
$
39,978
36,936
42,251
10,675
$
9,705
$
8,075
$
9,401
92,412
$
$
17,549
$
7,030
$
8,184
$
7,192
12,276
$
$
13,068
6,526
$
204,171
$
13,554
$
$
12,100
$
20,360
$
11,924
$
$
$
267,224
$
93,705
$
20,909
20,159
34,234
$
$
FY21-22
93,705
40,986
$
$
FY20-21
$
$
$
$
FY19-20
21,353
$
$
FY17-18
53,389
$
289,417
97,147
13,359
6,306
$
$
$
$
7,036
26,896
$
208,984
$
112,676
$
52,681
$
154,447
$
13,165
12,420
25,585
Next Repl.
FY
Est. Repl.
Cost
FY28-29
FY29-30
FY26-27
FY29-30
FY28-29
FY28-29
FY25-26
FY24-25
FY25-26
FY25-26
FY25-26
FY27-28
FY27-28
$
$
$
$
$
$
$
$
$
$
$
$
$
28,175
35,326
114,226
52,386
54,080
146,401
36,905
22,004
45,922
42,428
48,533
34,971
39,752
FY25-26
FY25-26
FY25-26
FY25-26
FY28-29
$
$
$
$
$
7,699
10,751
16,572
59,309
13,013
FY29-30
FY25-26
FY25-26
FY24-25
FY25-26
FY36-37
FY28-29
FY29-30
FY27-28
FY29-30
FY28-29
FY24-25
FY30-31
FY25-26
FY25-26
FY26-27
FY28-29
FY33-34
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
11,148
15,117
50,161
112,650
8,260
28,141
23,156
9,276
41,730
10,799
8,767
14,965
118,422
14,750
23,388
7,244
14,535
15,140
FY24-25
FY24-25
FY37-38
FY26-27
$
$
$
$
16,248
7,205
70,902
8,082
Cary Park District
Replacement Value and Purchase Years(s)
FYE 4/30/2015 - 4/30/2024
ESTIMATED REPLACEMENT VALUE
Year
Purch.
Mechanical Equipment
Cary-Grove Park
01/04 Steel Roof
Original
Cost
Description
Community Center
00/95 Bryan Model D-650 Gas Fired Boiler
01/96 Carrier Weathermaker 8000 Furnace/Condenser
01/95 East Roof Top Carrier Model 48HJE007
01/10 West Roof Top Trane Model YHC60E3RHA0LH001B
01/10 Mid. Roof Top Trane Model TCD240E30CBA
01/08 Lochnivar Boiler
01/09 Schindler Elevator
01/09 Water Softener System
01/09 Fire Sprinkler System
04/01 Pool Filtration Pump
01/96 Membrane Roof (Admin. Offices)
01/10 Membrane Roof (Renovation)
01/98 Asphalt Shingle Roof
09/12 Roof Top Trane 10 Ton A/C Unit
07/13 West Roof Top Trane Model YSC090F3EHA000F
Est. Repl.
Cost
$
Life
Expect
10,000
40
11,200
35,200
5,150
65,000
20,000
90,642
20,000
20,000
40,000
15,000
16,183
11,614
$
8,000
$
8,000
$
8,000
$
6,500
$ 11,000
$ 15,074
$ 47,375
$
6,278
$ 174,953
$ 29,719
$ 164,185
$ 26,917
$ 36,227
$ 72,454
$ 27,170
$ 21,780
$ 15,631
20
20
20
15
15
15
15
10
50
20
30
15
30
30
30
15
15
$ 116,628
$173,303
20
$26,896
$25,401
$28,811
20
30
20
$
$
$
6,500
6,500
44,161
15
15
40
$
$
$
$
$
7,578
30,000
12,581
6,326
6,810
$
$
$
$
$
$
$
$
$
$
$
$
FY14-15
FY15-16
FY16-17
FY17-18
FY18-19
FY19-20
FY20-21
FY21-22
FY22-23
FY23-24
Next Repl.
FY
Est. Repl.
Cost
FY43-44
$
10,000
FY38-39
FY36-37
FY37-38
FY29-30
FY29-30
FY24-25
FY24-25
FY28-29
FY59-60
FY29-30
FY39-40
FY30-31
FY25-26
FY40-41
FY27-28
FY27-28
FY28-29
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
11,888
11,888
11,888
8,748
14,805
15,074
47,375
7,653
174,953
29,719
164,185
36,227
36,227
72,454
27,170
21,780
15,631
FY31-32
$
173,303
FY31-32
FY41-42
FY32-33
$
$
$
26,896
25,401
28,811
FY29-30
FY29-30
FY37-38
$
$
$
8,748
8,748
44,161
20
50
15
15
15
FY28-29
FY40-41
FY26-27
FY27-28
FY28-29
$
$
$
$
$
7,578
30,000
12,581
6,326
6,810
$
$
$
$
$
8,000
$
6,278
8,000
8,000
6,500
11,000
$
26,917
Hoffman Park
10/11
10/11
01/12
07/12
Hoffman Park Phase1 Development - Dog Park Fencing
Hoffman Park Phase1 Development - Main Shelter Solar
Panel System
Hoffman Park Phase1 Development - Pond Windmill
Hoffman Park Phase1 Development - Windspire
Kraus Senior Center
01/98 Trane Furnace/Condenser Unit
01/98 Trane Furnace/Condenser Unit
01/98 Elevator
Lions Park Maintenance Facility
02/09 Burnham Commercial Boiler
01/91 Steel Roof
04/12 Trane XT95 furnace/4T Condenser
11/12 14' x 14' Overhead Door/Track and Motor
08/13 14' Overhead Door/Track and Motor
Lions Park Preschool
07/11 3's Room Furnace/Condenser
01/12 4's Room Furnace/Condenser
Steel Roof
Lions Park Cold Storage Facility
Sands Main St. Rental Property
07/10 Furnace/Condenser Unit
$
$
$
18,100
14,023
19,389
$
20,000
$
5,100
$
$
$
9,348
4,700
5,060
$
$
6,000
6,000
$
$
$
8,075
8,075
15,000
15
15
50
FY26-27
FY27-28
FY30-31
$
$
$
8,075
8,075
15,000
$
8,822
$
15,980
30
FY41-42
$
15,980
$
6,000
$
$
8,075
10,000
15
30
FY25-26
FY32-33
$
$
8,075
18,114
$
15,000
30
FY27-28
$
15,000
Sands Main St. Prairie Storage Barn
Total, Mechanical Equipment
$
$
6,500
6,500
$
-
10,000
$
10,000
$
-
$
30,500
$
26,917
$
8,000
$
8,000
$
14,278
$
-
$
$
234,671
$
294,142
$
101,705
$
61,389
$
303,695
$
26,896
$
208,984
$
112,676
$
164,447
$
25,585
Proposed Available Fundling Level
Estimated Annual Purchases
$
$
156,911
234,671
$
$
169,910
294,142
$
$
154,127
101,705
$
$
145,422
61,389
$
$
184,013
303,695
$
$
140,698
26,896
$
$
168,020
208,984
$
$
155,425
112,676
$
$
155,139
164,447
$
$
146,965
25,585
Estimated Carryforward Balance
$
499,562
$
375,331
$
427,753
$
511,786
$
392,104
$
505,906
$
464,942
$
507,691
$
498,383
$
619,763
Estimated Annual Purchases
-
$
Funding Summary:
Projected Carryforward as of 5/01/14
Page 51
$ 577,322
Cary Park District
Fund Information
IMRF/Social Security Fund
Fund Description
The IMRF/Social Security Fund accounts for the employer share of the pension contribution. This fund
also accounts for the employer’s cost for Social Security and Medicare taxes.
Revenues
Although received within one fund, separate tax levies are extended for IMRF and for Social Security and
Medicare taxes. The fund also receives an allocated portion of investment income earned by the District.
Expenditures
The District’s pension plan is through the Illinois Municipal Retirement Fund (IMRF). All employees that
are scheduled to work a minimum of 1,000 hours per year are required to participate in the retirement plan.
The IMRF contribution rate is based on an actuarial determination of the District’s projected pension
liability. The rate is adjusted annually on a calendar year basis. The 2014 employer contribution rate is
9.88% of IMRF wages. The rate for calendar year 2015 has decreased to 9.4%.
The employer’s matching Social Security and Medicare taxes totaling 7.65% applied to salaries and wages
are paid from this fund.
Page 52
Cary Park District
IMRF/Social Security Fund
Proposed
Budget
Revenues
Real Estate Tax - IMRF
Real Estate Tax - FICA
Investment Income
$
130,000
135,000
185
Projected
Budget
$
129,875
134,867
183
$
130,000
135,000
325
Total Revenues
265,185
264,925
265,325
Expenditures
Payroll Related Costs
272,000
271,514
276,000
Net (Reduction) to Fund Balance
(6,815)
Page 53
(6,589)
105,527
$
98,712
112,116
$
105,527
$
(10,675)
Cary Park District
Fund Information
Paving & Lighting Fund
Fund Description
The Paving & Lighting Fund accounts for disbursements related to the maintenance of the District’s
parking lots and access roadways, as well as its lighting structures.
Revenues
Funding is provided through a tax levy and an allocated portion of investment income earned by the
District.
Expenditures
The cost of maintaining parking lots and trails are included within the fund..
Page 54
Cary Park District
Paving & Lighting Fund
Proposed
Budget
Revenues
Real Estate Tax
Investment Income
$
Projected
Budget
6,000
41
$
9,989
41
$
10,000
125
Total Revenues
6,041
10,030
10,125
Expenditures
Operating - Repairs & Maintenance
6,000
1,000
1,000
-
108,115
108,115
6,000
109,115
109,115
Total Expenditures and Transfer Out
41
Page 55
(99,085)
11,539
$
11,580
110,624
$
11,539
$
(98,990)
Cary Park District
Fund Information
Special Recreation Fund
Fund Description
The Special Recreation Fund accounts for the disbursement of funds for expenditures to provide joint
recreational programs for those with special needs and costs related to the accessibility of the District’s
facilities and sites. The Cary Park District and twelve other park districts and city recreation departments
form the Northern Illinois Special Recreation Association (NISRA). NISRA provides recreation programs
for people with special needs.
Revenues
Funding is provided through a tax levy and an allocated portion of investment income earned by the
District.
Expenditures
Expenditures in the FY 14/15 proposed budget include funds for:
· The annual dues for the District’s membership in NISRA
· The District’s direct cost of providing inclusion services
· The cost of improvements related to the accessibility of the District’s facilities
· Implementation of the 14/15 portion of the District’s ADA transition plan
· A portion of the cost of District personnel who serve on the NISRA Board of Directors
Late in the current year (FY 13/14), a transfer out of $76,600 to the Capital Projects Fund for funding of
accessibility related costs in the construction of a trail at Lions Park was made. Construction of the trail is
expected to begin in late April 2014 and will be completed in FY 14/15.
Page 56
Cary Park District
Special Recreation Fund
Proposed
Budget
Revenues
Real Estate Tax
Investment Income
Miscellaneous
$
Projected
Budget
206,273
312
-
$
227,723
284
-
$
227,945
375
2,240
Total Revenues
206,585
228,007
230,560
Expenditures
Operating
Services
Commodities
10,748
120,993
2,575
7,350
58,050
10,564
116,263
1,075
17,735
8,433
117,658
1,970
55,000
Total Operating Expenditures
199,716
145,637
183,061
Transfers Out
Transfer Out - Recreation Fund
-
7,000
76,600
7,000
71,855
Total Transfers Out
-
83,600
78,855
199,716
229,237
261,916
6,869
Page 57
(1,230)
268,764
$
275,633
269,994
$
268,764
$
(31,356)
Cary Park District
Fund Information
Cary Prairie Heritage Fund
Fund Description
The Cary Prairie Heritage Fund accounts for accumulated revenues that are intended to provide for the
preservation and maintenance of the prairies and natural areas owned by the Park District.
Revenues
The anticipated source of funding will be provided by investment income.
Expenditures
The use of funds each year is limited to the previous calendar year’s investment earnings. No expenditures
are included in the proposed budget to aid in the buildup of funding for future projects.
Page 58
Cary Park District
Cary Prairie Heritage Fund
Proposed
Budget
Revenue
Investment Income
$
Page 59
$
120
Projected
Budget
181
$
180
120
181
$
180
45,173
44,992
45,293
$
$
45,173

Budget Forms - Cary Park District

Transcription

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