2009 Comprehensive Annual Financial Report - Apex Park and ...

President, Board Members
and District Citizens
Apex Park and Recreation District
June 17, 2010
services, adult and youth sports, senior programs, racquet sports, fitness/wellness, gymnastics,
aquatics, outdoor recreation, art, ice-skating, and golf.
The annual budget along with a Five-Year Capital Plan serves as the foundation for Apex Park
and Recreation District's fmancial planning and control. The District's executive director is
required by October 15 of each year to submit a proposed budget to the board for the ensuing
year. Upon receiving the proposed budget for the year, the board is required to publish a "Notice
of Budget". This notice identifies a budget hearing date for public input to the budget process.
The deadline for the board to adopt the new budget is December 15. The appropriated budget is
prepared by fund, function (e.g., Apex Center), and division (e.g., Ice). Division heads may
make transfers of appropriations within a division, with the approval of the executive director.
Budget-to-actual comparisons are provided in this report for each individual governmental fund
for which an appropriated annual budget has been adopted. For the General Fund, Conservation
Trust and Capital Projects funds the comparisons are presented on pages B-6 to B-8 as part of the
basic financial statements for the governmental funds. For the Debt Service Fund, this
comparison is presented in the budget comparison section, which starts on page D-I.
Long-Term Financial Planning: During 2009 the District Board conducted public hearings and
on May 21, 2009 adopted a new Fifteen-Year Capital Improvement Master Plan. The highlights
of the capital improvements completed during FY 2009 are listed below.
BUDGETARY HIGHLIGHTS
In 2006 District voters authorized a I-mill levy increase in property tax. The 2009 budget year is
the third year for the District to levy and receive this I-mill levy increase. The designed use of
this money is as follows:
• One-half of the mill levy increase is to be used for purchasing/repairing of capital
equipment/facilities. This money is receipted and spent out of the Capital Improvement
Projects Fund in order to properly track the usage of this money.
• One-half of the mill levy may be used for purchasing/repairing of capital
equipment/facilities and for general operating expenditures such as salaries, supplies, etc.
This money is receipted and spent out of the General Fund.
This additional tax money has helped the District tremendously by creating the funding
necessary to move forward with implementing the Long-Term Operational Master Plan.
During fiscal year 2009, the District's major initiatives and accomplishments for working
through the District Capital Improvement Master Plan totaled $1,220,764 or 7% of the 2009
operating budget. Building improvements were $430,555, land improvements $284,464
equipment & machinery $98,229 and vehicles $53,460.
Golf Fund
The difference between the original and the final amended budget is detailed as follows:
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