Gurnee Park District 2016-2017 Annual GFOA Budget

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BUDGET SUMMARY REPORT obligation bonds, developer donations, grants and interest earned on investments. The budgeted year end fund balance in this fund is $67,633. There is no fund balance target in this fund. Audit Fund This fund is used to account for revenues derived from a specific annual property tax levy for the purpose of an annual audit of the financial statements and accounting records of the Park District. The budgeted year end fund balance in this fund is $7,688 which is $657 above the fund balance target. Paving and Lighting This fund is used to account for revenues derived from a specific annual property tax levy for the purpose of making paving and lighting improvements throughout the Park District. The budgeted year end fund balance in this fund is $13,272 which is $6,335 above the fund balance target. Recreation for Handicapped Fund This fund is used to account for revenues derived from a specific annual property tax levy which is disbursed to the Warren Special Recreation Association to provide special recreation programs for the handicapped and impaired. This fund is also used to make ADA improvements to the Park District’s park infrastructure. The budgeted year end fund balance in this fund is $63,462. There is no fund balance target in this fund. Liability Insurance Fund This fund is used to account for revenues derived from a specific annual property tax levy to provide liability insurance for the Park District’s operations. The budgeted year end fund balance in this fund is $53,457 which is $1,151 above the fund balance target. Illinois Municipal Retirement Fund This fund is used to account for revenues derived from a specific annual property tax levy for the purpose of providing employer contributions to the State regulated Illinois Municipal Retirement Fund. The budgeted year end fund balance in this fund is $106,156 which is $17,238 above the fund balance target. Social Security Fund This fund is used to account for revenues derived from a specific annual property tax levy for the purpose of meeting the costs associated with the participation in the "Social Security Act." The budgeted year end fund balance in this fund is $100,480 which is $16,841 above the fund balance target. Debt Service (Aquatic Center) Fund This fund is used to accumulate funds for the retirement of alternate revenue bonds issued for the construction of the aquatic center. Financing is provided by annual payments from the Village of Gurnee and the Park District's annual rollover bonds. The budgeted year end fund balance in this fund is $660,902 which is $147,102 above the fund balance target. The fund balance target represents the following year debt payment. OPERATIONAL AREAS: The lower portion of the Budget Summary Report on page 33 is the individual Operational Areas estimated and budgeted 36 FISCAL YEAR 2016/2017 ANNUAL BUDGET I Gurnee Park District
BUDGET SUMMARY REPORT Chart 3: Total park district revenue (excluding transfers) Chart 3 illustrates total revenue by major category for 2014-15, the budget and estimated revenue for 2015-16 and the budgeted revenue for 2016-17, all of which exclude transfers. revenues, expenditures, and surplus or deficit. The fund balances are directly related to the results of the operational area. The beginning fund balance for all funds, plus or minus the surplus or deficit, will result in the ending fund balance for all funds. Real estate taxes are collected in the General Operations and Recreation areas. Most capital improvement costs are expensed in the General Operations area with the exception of those directly attributable to the Recreation area and Aquatic Center operations. The Park District does not budget revenue directly to the Parks Management Operational area. Planned overall deficit spending in 2016-17 is the result of capital improvement projects and results in lower fund balances. Most of these capital improvements are budgeted out of the General Operations area. The Recreation area is projected to have an increase in surplus from the 2015-16 year end estimates due to a modest increase in budgeted program participation and fees as well as an increase in fitness memberships. The Aquatic Center Operations budgeted deficit of $155,351 is a direct result of the budgeted capital improvements. MAJOR REVENUE SOURCES Property Tax Revenue Property tax revenue accounts for 36% of the total park district revenue. The total municipal property tax levy includes the Gurnee Park District I FISCAL YEAR 2016/2017 ANNUAL BUDGET 37
Page 1 and 2: Fiscal Year 2016 - 2017 Annual Budg
Page 3 and 4: The Government Finance Officers Ass
Page 5 and 6: Mission and Vision Statement Missio
Page 7 and 8: Gurnee Park District Leadership Tea
Page 9 and 10: GURNEE PARK DISTRICT PROFILE includ
Page 11 and 12: Board of Commissioners Letter Gurne
Page 13 and 14: BOARD OF COMMISSIONERS LETTER Gurne
Page 15 and 16: BOARD OF COMMISSIONERS LETTER Gurne
Page 17 and 18: 2016-17 Annual Operating Budget Ove
Page 19 and 20: 2016-17 ANNUAL OPERATING BUDGET OVE
Page 27 and 28: SUPPLEMENTAL INFORMATION Table 4: T
Page 29 and 30: PARK INFORMATION recreation space t
Page 31 and 32: GENERAL BUDGET REVIEW Chart 2: Tota
Page 33 and 34: BUDGET SUMMARY REPORT Budget summar
Page 35: BUDGET SUMMARY REPORT lower than la
Page 39 and 40: BUDGET SUMMARY REPORT Chart 4: Tota
Page 41 and 42: COMBINED STATEMENT OF REVENUES, EXP
Page 53 and 54: EQUALIZED ASSESSED VALUATION, TAX L
Page 55 and 56: DEBT POSITION Replacement/Developme
Page 57 and 58: DEBT POSITION Debt service requirem
Page 59 and 60: TOTAL DISTRICT Gurnee Park District
Page 61 and 62: TOTAL DISTRICT 75% of its Recreatio
Page 63 and 64: TOTAL DISTRICT 11. Revise and updat
Page 65 and 66: GENERAL OPERATIONS Chart 6: General
Page 67 and 68: GENERAL OPERATIONS computer hardwar
Page 69 and 70: GENERAL OPERATIONS to General Opera
Page 71 and 72: GENERAL OPERATIONS General Governme
Page 73 and 74: PARKS MANAGEMENT 2015-16 2015-16 20
Page 75 and 76: PARKS MANAGEMENT Gurnee Park Distri
Page 77 and 78: Recreation General Responsibilities
Page 79 and 80: RECREATION services and leisure opp
Page 81 and 82: RECREATION MAJOR BUDGET CHANGES REV
Page 83 and 84: RECREATION Gurnee Park District I F
Page 85 and 86: Aquatic Center Operations GENERAL R
Page 87 and 88:
AQUATIC CENTER OPERATIONS Chart 9:
Page 89 and 90:
It is the financial goal of the Aqu
Page 91 and 92:
Impact on Operating Budget The Corp
Page 93 and 94:
South Park - $25,000 is budgeted fo
Page 95 and 96:
GURNEE PARK DISTRICT THREE YEAR CAP
Page 97 and 98:
GURNEE PARK DISTRICT Miscellaneous
Page 99 and 100:
Appendix C Budget and Appropriation
Page 101 and 102:
Utilities $49,740 $59,688 Materials
Page 103 and 104:
Total for Park Management $1,196,09
Page 105 and 106:
Property Insurance $74,091 $88,909
Page 107 and 108:
SUMMARY OF FUNDS BUDGET APPROPRIATI
Page 109 and 110:
STATE OF ILLINOIS) ) COUNTY OF LAKE
Page 111 and 112:
GURNEE PARK DISTRICT CAPITAL ASSET
Page 113 and 114:
Gurnee Park District Policy Manual
Page 115 and 116:
Aquatic Center. Balances above the
Page 117 and 118:
Appendix F Fiscal Year 2015-2016 An
Page 119 and 120:
Appendix F Strategic Initiative #3
Page 121 and 122:
Appendix F Strategic Initiative #5
Page 123 and 124:
Appendix G GURNEE PARK DISTRICT Thr
Page 125 and 126:
GURNEE PARK DISTRICT Three Year Fin
Page 127 and 128:
Page 129 and 130:
Page 131 and 132:
Carry Over Capital Projects - Capit
Page 133:
Tax Rate - The rate derived from di
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Gurnee Park District 2016-2017 Annual GFOA Budget

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