WHEELING PARK DISTRICT WHEELING, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT For the Year Ended December 31, 2020
Prepared by: Matt Wehby Deputy Director Jill Nobbe Superintendent of Finance
WHEELING PARK DISTRICT WHEELING, ILLINOIS TABLE OF CONTENTS
Page(s) INTRODUCTORY SECTION Principal Officials .........................................................................................................
i
Organizational Structure ...............................................................................................
ii-iii
Certificate of Achievement for Excellence in Financial Reporting ..............................
iv
Transmittal Letter..........................................................................................................
v-ix
FINANCIAL SECTION INDEPENDENT AUDITOR’S REPORT ....................................................................
1-3
GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS Management’s Discussion and Analysis .................................................................. MD&A 1-10 Basic Financial Statements Government-Wide Financial Statements Statement of Net Position ...............................................................................
4
Statement of Activities ...................................................................................
5-6
Fund Financial Statements Governmental Funds Balance Sheet.............................................................................................
7-8
Reconciliation of Fund Balances of Governmental Funds to the Governmental Activities in the Statement of Net Position ...............
9
Statement of Revenues, Expenditures and Changes in Fund Balances .....
10-11
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances to the Governmental Activities in the Statement of Activities ..................................................
12
WHEELING PARK DISTRICT WHEELING, ILLINOIS TABLE OF CONTENTS (Continued)
Page(s) FINANCIAL SECTION (Continued) GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS (Continued) Fund Financial Statements (Continued) Proprietary Fund Statement of Net Position ...............................................................................
13-14
Statement of Revenues, Expenses and Changes in Fund Net Position ..........
15
Statement of Cash Flows ................................................................................
16-17
Notes to Financial Statements .............................................................................
18-45
Required Supplementary Information Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual Corporate Fund ............................................................................................... Recreation Fund.............................................................................................. Illinois Municipal Retirement Fund Schedule of Employer Contributions ............................................................. Schedule of Changes in the Employer’s Net Pension Liability (Asset) and Related Ratios ........................................................................................ Other Postemployment Benefit Plan Schedule of Changes in the Employer’s Total OPEB Liability and Related Ratios ........................................................................................ Notes to Required Supplementary Information ..................................................
46 47 48 49-50
51 52
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES MAJOR GOVERNMENTAL FUNDS Corporate Fund Schedule of Revenues - Budget and Actual ................................................... Schedule of Expenditures - Budget and Actual ..............................................
53 54-56
WHEELING PARK DISTRICT WHEELING, ILLINOIS TABLE OF CONTENTS (Continued)
Page(s) FINANCIAL SECTION (Continued) COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES (Continued) MAJOR GOVERNMENTAL FUNDS (Continued) Recreation Fund Schedule of Revenues - Budget and Actual ................................................... Schedule of Expenditures - Budget and Actual .............................................. Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Bond and Interest Fund .................................................................................. Capital Projects Fund ..................................................................................... Bond Project Fund ..........................................................................................
57-58 59-62
63 64 65
NONMAJOR GOVERNMENTAL FUNDS Combining Balance Sheet ................................................................................... Combining Statement of Revenues, Expenditures and Changes in Fund Balances ............................................................................................... Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Tort Immunity Fund ....................................................................................... Audit Fund ...................................................................................................... IMRF Fund ..................................................................................................... FICA Fund ...................................................................................................... Museum Fund ................................................................................................. Schedule of Expenditures - Budget and Actual Museum Fund ................................................................................................. Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Special Populations Fund ............................................................................... Police Fund ..................................................................................................... Paving and Lighting Fund .............................................................................. Bond and Interest ARS Fund ..........................................................................
66-67 68-69
70 71 72 73 74 75
76 77 78 79
PROPRIETARY FUND Chevy Chase Country Club Fund Schedule of Operating Revenues - Budget and Actual .................................. Schedule of Operating Expenses - Budget and Actual ................................... Schedule of Capital Assets and Depreciation .................................................
80 81-84 85
WHEELING PARK DISTRICT WHEELING, ILLINOIS TABLE OF CONTENTS (Continued)
Page(s) FINANCIAL SECTION (Continued) SUPPLEMENTAL DATA Long-Term Debt Requirements General Obligation Park Bonds (Alternate Revenue Source), Series 2014A ..... General Obligation Park Bonds (Alternate Revenue Source), Series 2018A ..... General Obligation Refunding Park Bonds (Alternate Revenue Source), Series 2020 ........................................................................................................ General Obligation Limited Tax Park Bonds, Series 2020 .................................
87 88 88 89
STATISTICAL SECTION Financial Trends Net Position by Component ..................................................................................... Change in Net Position ............................................................................................ Fund Balances of Governmental Funds ................................................................... Changes in Fund Balances of Governmental Funds ................................................ Revenue Capacity Assessed Value and Actual Value of Taxable Property........................................... Property Tax Assessed Valuations, Rates and Extensions ...................................... Property Tax Rates - Direct and Overlapping Governments ................................... Principal Property Taxpayers ................................................................................... Property Tax Levies and Collections ....................................................................... Debt Capacity Ratios of Outstanding Debt by Type........................................................................ Ratio of Net General Bonded Debt Outstanding ..................................................... Direct and Overlapping Governmental Activities Debt ........................................... Legal Debt Margin Information ............................................................................... Demographic and Economic Information Demographic and Economic Information ................................................................ Principal Employers ................................................................................................. Operating Information Full-Time Equivalent Employees ............................................................................ Operating Indicators ................................................................................................. Capital Asset Statistics .............................................................................................
90-91 92-95 96-97 98-99 100 101-102 103 104 105 106 107 108 109 110 111 112 113 114
WHEELING PARK DISTRICT WHEELING, ILLINOIS PRINCIPAL OFFICIALS December 31, 2020
LEGISLATIVE
BOARD OF PARK COMMISSIONERS Sue Stein, President
Cheri Klumpp
Mike Burns, Vice President
Brian Lichtenberger
Rich Rosen
Paul Zangara
James Whittington
ADMINISTRATIVE Jan Buchs, Executive Director Matt Wehby, Deputy Director
FINANCE DIVISION Jill Nobbe Superintendent of Finance
-i-
- ii -
- iii -
Government Finance Officers Association
Certificate of Achievement for Excellence in Financial Reporting Presented to
Wheeling Park District Illinois For its Comprehensive Annual Financial Report For the Fiscal Year Ended December 31, 2019
Executive Director/CEO
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The Comprehensive Annual Financial Report includes all funds of governmental operations and component units based on financial accountability. The accompanying financial statements include only those funds of the Park District, as there are no other organizations for which it has financial accountability. The Park District participates in the Illinois Municipal Retirement Fund (IMRF), the Northwest Special Recreation Association (NWSRA), and the Park District Risk Management Agency (PDRMA). These organizations are separate governmental units because they are legally separate and the Park District is not financially accountable for them. Audited financial statements for these organizations are not included in this report. However, such statements are available upon request from their respective business offices. The Board of Commissioners is required to adopt a final budget by no later than three months after the close of the fiscal year. This annual budget serves as the foundation for the Wheeling Park District’s financial planning and control. The budget is prepared by fund and state law prohibits further appropriation at any time within the same fiscal year. The Board of Commissioners has the authority, after the first six months of the fiscal year, to make transfers between various items in any fund in the appropriation ordinance with a two-thirds vote. Additionally, if circumstances warrant it, a supplemental budget and appropriation ordinance can be prepared. Transfers cannot exceed 10%, in the aggregate, of the total amount appropriated for the fund or item that is having funds reallocated. Local Economy The Wheeling Park District community has a well-established reputation as an exceptional community located in the northwestern corridor of the Chicago metropolitan area. The area encompassing the Wheeling Park District is a great place to live and work. The area has an ideal mix of residential and multi-family housing, good schools and municipal services, as well as some of the Chicago area’s best-known restaurants. Several hospitals are nearby, giving residents several options to meet their medical needs. Wheeling schools’ students have consistently exceeded the state average for reading and math skills. In addition to primary and secondary schools, District residents can take advantage of higher-level courses in business and education taught at National Louis University’s campus in Wheeling. William Rainey Harper College – a leading community college – also serves Wheeling residents by offering certificate and associate degree programs, as well as college transfer programs. Long-term Financial Planning The Wheeling Park District, along with the entire country, was affected by the COVID-19 pandemic. The first case of COVID-19 in the United States was reported January 21, 2020. On January 31, 2020, COVID-19 was declared a public health emergency in the U.S. to aid the nation’s healthcare community. Since then, federal agencies, including the Center for Disease Control (CDC) and local health departments like the Illinois Department of Public Health (IDPH) and the Illinois Department of Commerce and Economic Opportunity (IDCEO), have been responding to the outbreak of COVID-19 by providing guidelines to the public to stop the spread of the disease. The District was successful in 2020 by adjusting to the COVID-19 pandemic and corresponding economic conditions by providing limited programs and services, along with parks and open space, to its residents. These offerings were done in accordance to the State of Illinois’ Restore Illinois Plan.
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This strategy positioned the District for success. The District also continued to reinvest in its’ properties and systems to meet the demands and opportunities of the future. By adapting to the needs of the Community and its residents, the District expects to retain existing guests, and gain new guests, through increased satisfaction and loyalty. In 2020, the District fortified its financial stability. All governmental funds achieved fund balance targets. The District continued to maintain limited operations while also looking for efficiencies in order to best serve its mission of providing memorable experiences in parks & recreation that enrich its communities. The District prepared its budget conservatively and sustained its operations based on the assumption that the economy would continue on its existing path. This philosophy ensures that the District can provide quality service to the community, as well as have the resources on hand to take advantage of opportunities that may become available. The COVID-19 pandemic significantly altered the District’s 2020 finances, as compared to budget, but the District was able to navigate the pandemic successfully. Factors Affecting Financial Condition Clearly, the biggest factor affecting the financial condition of the Wheeling Park District is the economic environment. 2020 was a year that was supposed to be exceptional in every way. No one could have expected the unprecedented turn of events that would take the Park District down a road never traveled and challenge staff as a whole, to reinvent the way the District accomplishes its mission of providing memorable experiences in parks and recreation. In December 2019, a respiratory illness, caused by a coronavirus called COVID-19, was identified in Wuhan, China. COVID-19 spread throughout the world and on March 11, 2020 the World Health Organization announced that the spread of the coronavirus qualifies as a global pandemic. The first case of COVID-19 in the U.S. was reported January 21, and it landed in Illinois on January 24, 2020. On January 31, 2020, COVID-19 was declared a public health emergency in the U.S. Since then, federal agencies, including the CDC and local health departments like the Illinois Department of Public Health and the Illinois Department of Commerce and Economic Opportunity, have been responding to the outbreak of COVID-19 by providing guidelines to the public to stop the spread of the disease. On March 9, 2020, Illinois Governor Pritzker issued a disaster proclamation and on March 21, 2020 the Governor issued a stay-at-home order that extended through May 29, 2020. This order, combined with directives to pause programs, services and events, and temporarily close facilities forced the District to abandon all plans and expectations for 2020. The ongoing pandemic and ever-changing restrictions could have paralyzed the Park District but it did not. Staff, with the support of the Board, stepped up in a time of crisis to pivot programs and services to meet the sudden, changing needs for guests. A pivot is a change in strategy without a change in mission. That is exactly what the Wheeling Park District did. The Park District’s strategy may have changed in March of 2020 but the mission, “to provide memorable experience in parks and recreation that enrich our communities” did not.
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To protect the financial health of the District, staff monitors economic trends and the leading economic indicators to understand their impact on long-term financial strategies. Unemployment in Wheeling ended 2020 at 6.7%, and costs of consumable goods have impacted residents that live in the District as well as the business community. However, even with the current economic factors being what they are due to the COVID-19 pandemic, the District remains well-positioned to continue to meet growing demands and remain fiscally responsible to its constituents through innovative, effective, and efficient practices. The District continues to experience increased competition from both the private and public sector in areas such as recreational programming, fitness and wellness, preschool, food and beverage events, and aquatics. Community Recreation Center Renovation & Expansion: One significant item from 2020 was the completion of the Community Recreation Center Renovation & Expansion Project. As has been its practice for many years, the District continues to direct the bulk of its capital resources towards maintaining its facilities and parks before expanding. The Community Recreation Center (CRC) Renovation and Expansion Project is a prime example of this practice. The CRC was opened in 1994 and has served the public well for over 26 years. However, due to growth in residential developments in Wheeling, and the changing needs of the residents and planning for a renovation and expansion of the facility has been a multi-year approach. In 2018 construction began on an $18.8 million renovation and expansion project. This project was scheduled to conclude in 2019, but construction and material delays have extended the project completion date to 2020. The project was paid for through a mix of existing capital resources, a debt issuance, and cost sharing agreements with other entities. The CRC Renovation & Expansion Project completed in May of 2020. However, portions of the facility were able to open in 2019. Most notably was the re-opening of the Health & Fitness Center on July 5, 2019. The new space was received with great enthusiasm by members and guests. The Health & Fitness Center saw an 80% increase in membership going from 1,092 to 1,969 members by year’s end. Furthermore, there was a 32% increase in Group Exercise participation and a 38% increase in the Health & Fitness Center’s usage. Awards and Acknowledgements In 2020, the Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the Wheeling Park District for its comprehensive annual financial report for the fiscal year ended December, 31, 2019. This was the sixteenth consecutive year that the District has achieved this prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of only one year. We believe that our current comprehensive annual financial report continues to meet the Certificate of Achievement Program’s requirements and we are submitting it to the GFOA to determine its eligibility for another certificate.
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The preparation of this report on a timely basis could not be accomplished without the efficient and dedicated services of the entire staff of the Administration Department and assistance rendered by staff throughout the Park District. We would like to express our appreciation to all of those employees who assisted and contributed towards its preparation. A special thanks to the Board of Commissioners for their leadership and support in setting policy that directs the financial operations of the District in a responsible and prudent manner. Respectfully Submitted, Jan Buchs Jan Buchs Executive Director Jill Nobbe Jill Nobbe Superintendent of Finance
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1415 West Diehl Road, Suite 400 Naperville, IL 60563 630.566.8400
INDEPENDENT AUDITOR’S REPORT
Members of the Board of Commissioners Wheeling Park District Wheeling, Illinois We have audited the accompanying financial statements of the governmental activities, the businesstype activities, each major fund and the aggregate remaining fund information of Wheeling Park District, Wheeling, Illinois (the District), as of and for the year ended December 31, 2020, and the related notes to financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the District’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
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We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund and the aggregate remaining fund information of Wheeling Park District, Wheeling, Illinois as of December 31, 2020, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis and other required supplementary information listed in the table of contents be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the District’s basic financial statements. The introductory section, combining and individual fund financial statements and schedules, supplemental data and statistical section listed in the table of contents are presented for purposes of additional analysis and are not a required part of the basic financial statements. The combining and individual fund financial statements and schedules are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining and individual fund financial statements and schedules are fairly stated, in all material respects, in relation to the basic financial statements as a whole. -- 22 --
The introductory, supplemental data and statistical sections have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them.
Naperville, Illinois April 2, 2021
-- 33 --
GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS
MANAGEMENT’S DISCUSSION AND ANALYSIS (Required Supplementary Information) As management of the Wheeling Park District, we offer readers of the Park District’s financial statements this narrative overview and analysis of the financial activities of the Wheeling Park District for the fiscal year ended December 31, 2020. We encourage readers to consider the information presented here in conjunction with additional information that we have furnished in our letter of transmittal section of this report. FINANCIAL HIGHLIGHTS •
On a government-wide basis, the District’s net position decreased by $65,150, or .1% for the fiscal year, the governmental activities increased by $1,830,764 while the business-type activities decreased $1,895,914.
•
The District’s combined net position total $59,566,985 at December 31, 2020. Unrestricted net position increased $426,269 to $8,033,985. Business activities account for $874,743 of the unrestricted net position and governmental activities account for the remaining $7,158,825.
OVERVIEW OF THE FINANCIAL STATEMENTS This discussion and analysis is intended to serve as an introduction to the Wheeling Park District’s basic financial statements. The Wheeling Park District’s basic financial statements comprise three components: 1) government-wide financial statements; 2) fund financial statements; and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements. Government-wide financial statements- The government-wide financial statements, found on pages 4-6 of this report, are designed to provide readers with a broad overview of the Wheeling Park District’s finances, in a manner similar to a private-sector business. The statement of net position presents information on all of the District’s assets and liabilities, with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating. The statement of activities presents information showing how the government’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (uncollected taxes and earned but unused vacation leave are two examples). Both of the government-wide financial statements distinguish functions of the Wheeling Park District that are principally supported by taxes and intergovernmental revenues (government activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The governmental activities of the District include general government and culture and recreation. The business-type activities of the District are clubhouse and golf course operations. 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 activities or objectives. The Wheeling Park District, like other local governments use fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the District can be divided into two categories: governmental funds and proprietary funds.
MD&A 1
Governmental funds- Governmental funds are used to account for essentially the same functions reported as government activities in the government-wide financial statements. However, unlike the governmentwide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources (current financial resources versus economic resources), as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government’s near-term financing requirements. 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 government’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statements of revenues, expenditures, and changes in fund balance provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. Moreover, these latter statements provide a ready comparison to similar financial statements produced prior to the District’s implementation of GASB Statement No. 34. The District maintains fourteen individual government funds. 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 the four funds considered major funds. Data from the other ten governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these nonmajor governmental funds is provided in the form of combining statements beginning on page 66. Major Governmental Funds: General Recreation Bond and Interest Capital Project Bond Project
Non-major Governmental Funds: Tort Immunity Audit Museum IMRF FICA Special Populations Police Paving and Lighting Bond and Interest ARS
The District adopts annual appropriated budgets for all of its governmental funds. Budgetary comparison statements have been provided to demonstrate compliance with these budgets. The detailed governmental fund financial statements can be found starting on page 53 of this report. Proprietary funds- The Wheeling Park District maintains only one type of proprietary fund. That fund type is an enterprise fund and is used to report the same functions presented in the business-type activities in the government-wide financial statements. The Wheeling Park District uses the enterprise fund to account for its Chevy Chase Country Club and Rob Roy Golf Course operations which includes an 18 hole and 9 hole golf course, bar and grill, and banquet facilities. Proprietary funds provide the same type of information as the government-wide financial statements, only in more detail. The detailed proprietary fund financial statements are grouped in a manner similar to governmental fund statements. Fund data for the enterprise fund is provided beginning on page 80. The District adopts an annual appropriations budget for the enterprise fund. Budgetary comparison statements for the fund are included within the report to demonstrate compliance with the budget. The basic enterprise fund financial statements can be found on pages 13-17 of this report.
MD&A 2
Notes to the financial statements- The notes 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 beginning on page 18 of this report. Other information- In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information concerning the Wheeling Park District’s progress in funding its obligations to provide pension benefits to its employees. Required supplementary information can be found starting on page 46 of this report. The combining statements referred to earlier in connection with non-major governmental and proprietary funds are presented immediately following the required supplementary information on pensions and budgets. Combining and individual fund statements and schedules can be found starting on page 53. GOVERNMENT-WIDE FINANCIAL ANALYSIS Statement of Net Position- As noted earlier, net position may serve over time as a useful indicator of a government’s financial position. In the case of the Wheeling Park District, assets exceed liabilities by $59,566,985 at the close of the fiscal year, which is a decrease from the prior year of $65,150. Wheeling Park District Net Position Governmental Activities
Current Assets Capital Assets Total Assets
$
Deferred Outflows Total Assets and Deferred Outflows Current Liabilities Long-Term Liabilities Total Liabilities Deferred Inflows Total Liabilities and Defered Inflows Net Position Net Investment in Capital Assets Restricted Unrestricted Total Net Position
$
2020 22,896,334 49,403,726 72,300,060
$
Business-Type Activities 2019 20,659,302 51,290,778 71,950,080
$
2020 2,384,437 9,551,439 11,935,876
$
Total 2019 3,385,174 10,713,137 14,098,311
$
2020 25,280,771 58,955,165 84,235,936
$
2019 24,044,476 62,003,915 86,048,391
499,116
1,213,317
253,649
585,322
752,765
1,798,639
72,799,176
73,163,397
12,189,525
14,683,633
84,988,701
87,847,030
1,085,230 11,233,118 12,318,348
2,845,364 12,098,344 14,943,708
1,186,281 1,789,140 2,975,421
1,085,429 2,602,375 3,687,804
2,271,511 13,022,258 15,293,769
3,930,793 14,700,719 18,631,512
9,829,875
9,399,500
298,072
1,818,830
10,127,947
11,218,330
22,148,223
24,343,208
3,273,493
5,506,634
25,421,716
29,849,842
41,616,359
42,354,047
8,041,289
8,845,326
49,657,648
51,199,373
1,875,769
825,046
-
-
1,875,769
825,046
7,158,825 50,650,953
$
5,641,096 48,820,189
$
874,743 8,916,032
$
1,966,620 10,811,946
$
8,033,568 59,566,985
$
7,607,716 59,632,135
The largest portion of the Wheeling Park District’s net position reflects its net investment in capital assets (e.g., land, building, machinery). The District uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Although the District’s investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets cannot be used to pay these liabilities. The remaining balance of unrestricted net position may be used to meet the government’s ongoing obligations to the citizens and creditors. At the end of the current fiscal year, the District is able to report positive balances in all three categories of net position, including the District as a whole, as well as for its separate governmental and business-type activities. Statement of Activities- Already noted was the statement of activities’ purpose in presenting information of how the government’s net position changed during the most recent fiscal year. Following is a chart of changes in net position.
MD&A 3
MD&A 4
For the fiscal year, total net position decreased $65,150, with an increase in the governmental activities of $1,830,764 and a decrease in the business-type activities of $1,895,914. The increase in net position in governmental activities is due to revenues exceeding expenses. With respect to business-type activity, Chevy Chase net position decreased as expenses exceeded revenues. The reader should remember that the basis of accounting used in the government-wide statement of activities excludes capital expenses while its revenues include general taxes whose primary purpose is for the construction of these very assets or their related debt service. Governmental Activities Revenues Governmental activities revenues totaled $12,192,048 for fiscal year 2020. Property tax is the largest component at $8,808,747 which represents 72.3 of the total revenues generated for governmental activities. Charges for Services accounted for $1,101,599 or 9.0% of the revenues generated, Grants and Donations accounted for $1,643,994 or 13.5%, and all other sources of revenue – Investment Earnings, Replacement Taxes, and TIF surplus distributions - totaled $637,708 or 5.2%. In 2020 revenues decreased in the governmental funds primarily due to decreased Sales & Rentals and Charges for Services as a result of COVID-19 pandemic temporary facility closures and program restrictions. Governmental Activities Revenues
Replacement Taxes 1%
Investment 1% Miscellaneous Intergovernmental 1% 3%
Property Taxes 72%
MD&A 5
Sales & Rentals 3% Fees & Charges 6% Grants & Donations 13%
Expenses Governmental expenses totaled $10,281,962 for the fiscal year. Of the expenses, 34.4% or $3,539,924 is related to general government, $6,205,697 or 60.4% relate to culture and recreation, the remaining $536,341 or 5.2% is related to interest and fiscal charges. Governmental Activities Expenses General Government 35%
Interest and fiscal Charges 5%
Culture and Recreation 60%
Business-type activities Revenues General revenues do not support the District’s business-type activities; as 99.4% ($2,377,698) of the funds revenues comes from Sales and Rentals. The remaining $14,158 is from investment income. Expenses The entire $4,367,092 business-type expenses are the result of operations at Chevy Chase Country Club and Rob Roy Golf Course. FINANCIAL ANALYSIS OF THE DISTRICT Significant changes in equity In 2020 the funds listed below had significant changes in equity or changes in reporting that should be explained to the reader. Capital Project Fund- There was significant activity in the Capital Projects Fund. The District completed work on the CRC Renovation and Expansion project. Offsetting the capital spending, in a continuing effort to fund future capital outlays, the District transferred $1,410,000 to the Capital Projects Fund from identified surpluses in the Corporate and Recreation Funds.
MD&A 6
Bond Project Fund- There was significant activity in the Bond Projects Fund. The District issued General Obligation (GO) Limited Tax Park Bonds in the amount of $1,418,000 in a continuing effort to fund future capital outlays. This fund also paid for the Preschool playground as part of the CRC Renovation and Expansion project. Governmental funds- The combined fund balance of governmental funds for the fiscal year ended December 31, 2020 are $12,662,758. This represents an increase of 42.7% or $3,790,563 in fund balance. This is principally a result of an increase in the Bond Project Fund of $1,227,886 and an increase in the Capital Projects Fund of $1,484,651. Both the Corporate and Recreation fund balances remained relatively flat in 2020 due to excess revenues over expenditures being transferred to the Capital Projects Fund. Additionally, the Corporate and Recreation funds transferred out $355,897 and $312,310 respectively to the Bond and Interest ARS Fund representative of their commitment toward the Build America Bonds issued in 2010. None of the restricted net position or restricted fund balance results from enabling legislation adopted by the District. Proprietary Funds- At December 31, 2020 the proprietary fund, Chevy Chase Country Club, reported net position of $8,916,032 which represents a decrease of $1,895,914 from the balance at the start of the fiscal year. Revenues decreased $3,120,065 from 2019 as the COVID-19 pandemic resulted in the complete shutdown of Food & Beverage events starting in March. Beginning in May, restrictions imposed for the rest of the year only allowed 13 additional small events to take place in 2020. Golf operations were able to resume in May and an 18 hole and 9 hole course were operated. Operating expenses decreased $2,011,788 and depreciation expense decreased $29,598 as compared to 2019. It is management’s intention to reserve for capital projects $612,000 of total unrestricted net position of $874,743 in the Chevy Chase Fund at December 31, 2020. CORPORATE FUND BUDGETARY HIGHLIGHTS A detailed budgetary schedule for the fiscal year ended December 31, 2020 can be found starting on page 53. A summary of that schedule follows: Budget Original & Final Revenues and Transfers In Taxes Investment Income Intergovernmental Miscellaneous & Charges Total Expenditures and Transfers Out Current Expenditures Capital Outlay Transfers Out Total Change in Fund Balance
$
3,046,210 186,750 145,000 193,340 3,571,300
$
$
$
2,889,670 6,800 659,211 3,555,681
$
15,619
$ $
Variance to Final
Actual 3,088,489 55,966 401,774 156,906 3,703,135
$
$
$
2,076,893 6,412 1,609,115 3,692,420
$
812,777 388 (949,904) (136,739)
$
10,715
$
(4,904)
$
$
42,279 (130,784) 256,774 (36,434) 131,835
The budget plan for the year reflected an increase to the Fund Balance of $15,619, while actual operations resulted in an increase of $10,715. With revenues exceeding budget and expenses being under budget the Corporate Fund was able to transfer $1,077,000 to the Capital Projects Fund, $954,000 greater than what was budgeted. The variance in Corporate Fund expenditures is primarily due to the COVID-19 Response and Reopen plan which allowed for cost reductions and efficient and effective management practices, streamlining operations in a manner consistent with business need and sound financial decisions.
MD&A 7
CAPITAL ASSETS Capital Assets, net of depreciation, at 12/31/2020 stood at $59.0 million. This is a net decrease of $3.0 million for the year. This net decrease is due primarily to current year depreciation the on-going CRC Renovation and Expansion project. Change in Capital Assets (In Millions) Governmental Activities
Land and Improvements
Business-type Activities
Total
Beginnng
Net Adds
End
Beginnng
Net Adds
End
End
of Year
(Deletes)
of Year
of Year
(Deletes)
of Year
of Year
$
Buildings and Improvements
31.5
$
0.2
$
31.7
$
7.6
$
-
$
7.6
$
39.3
42.9
1.6
44.5
15.1
-
15.1
59.6
Machinery and Equipment
3.7
0.3
4.0
1.7
0.1
1.8
5.8
Construction in Progress
0.4
(0.4)
-
-
-
-
-
(27.2)
(3.6)
(30.8)
(13.7)
(1.2)
(14.9)
(45.7)
Accumulated Depreciation Total
$
51.3
$
(1.9)
$
49.4
$
10.7
$
(1.1)
$
9.6
$
59.0
Additional information on capital assets can be found in Note 5, starting on page 27. DEBT ADMINISTRATION For the fiscal year ended December 31, 2020, the District’s long-term debt decreased $1.7 million. The District issued General Obligation (GO) Limited Tax Park Bonds in the amount of $1,418,000, compared to $1,375,000 in 2019. Additionally, the District issued a bond refunding for the 2010 Build America Bonds. Also, the District continued to make debt payments on existing debt. The District annually issues general obligation bonds to fund its capital projects. In 2020, the District borrowed the full amount available in its DSEB with a one-year maturity. A one-year maturity schedule allows the District to pay less interest expense, which increases the amount available for future projects.
General Obligation Bonds Net Pension Liability OPEB Liability Compensated Absences Unamortized Premium Total Long-Term Debt
Long-Term Debt (In Millions) Governmental Business-Type Activities Activities 2020 2019 2020 2019 $ 9.7 $ 10.3 $ 1.5 $ 1.8 0.2 1.2 0.1 0.5 0.2 0.2 0.1 0.1 0.2 0.2 0.1 0.1 0.9 0.2 0.1 $ 11.2 $ 12.1 $ 1.8 $ 2.6
Total 2020 2019 $ 11.2 $ 12.1 0.3 1.7 0.3 0.3 0.3 0.3 0.9 0.3 $ 13.0 $ 14.7
Additional information on long-term debt can be found in Note 7, starting on page 30.
MD&A 8
ECONOMIC FACTORS Wheeling has the reputation as a dynamic business and industrial center, and is home to hundreds of business, commercial, and retail establishments. However, changes in the economy, both positive and negative, has had a significant impact on business and residents alike. To protect the financial health of the District, staff monitors economic trends and economic indicators to understand their impact on long-term financial strategies. Wheeling’s unemployment rate ranged between 2.9% and 15.8% in 2020, and increased costs of consumable goods have put a strain on the residents that live in the District as well as the business community. The District and Wheeling residents had to deal with the public health emergency created by the COVID-19 pandemic and the restrictions put in place to stop the spread of the disease. However, with the current economic factors being what they are, the District is well-positioned to continue to meet growing demands and remain fiscally responsible to its constituents through innovative, effective, and efficient practices. The District’s principal taxpayers are retail discount stores, well-known restaurants, industrial businesses and multi-family housing developments. Over 20,000 people are employed by Wheeling private sector businesses. The largest sectors include: 34% are in manufacturing, 12% are in fabricated metal products 11% in wholesale trades, 8% in accommodations and food services, 7% in retail trades, 7% in Professional & Scientific Technology, 5% are in construction. The remaining jobs are a mix of professional and labor positions in both products and services industries. Property tax revenue continues to be limited by the tax caps. Since the District relies on property tax for much of its revenues, and given that Cook County, the county for which it receives the bulk of its tax revenue, has occasionally delayed distributing its installment of taxes, the District must be careful to monitor its cash flow. Other significant factors which impact the District are healthcare costs, government mandates, increased competition from private industry, interest rates, employer contribution rates for IMRF, reductions in the availability of grant funding, a tight labor market, and rising costs. Through flexible and aggressive management in response to the pandemic restrictions which were beyond management’s control, the District was able to pivot and adapt its programs and services to meet changing needs for our guests. In 2020, the District completed the significant renovation and expansion project of its main facility, the Community Recreation Center. The CRC was opened in 1994 and has served the public well for over 25 years. However, due to changing needs of the residents and increasing population growth, there is a need for a larger CRC. Planning for a renovation and expansion of the facility has been a multi-year approach. The bulk of planning for the renovation took place in 2017, and construction began in 2018. The total project cost was set at $18.8 million and is being paid for through a mix of existing capital resources, a debt issuance, and cost sharing agreements with other entities. Portions of the renovated facility opened in 2019 with great results. Full completion occurred in May 2020. Additionally, the new Preschool playground was installed in the new location in 2020. Much like previous years, 2020 provided both challenges and benefits for the District. Due to restrictions all community wide special events were canceled beginning in March. The Family Aquatic Center was only able to open the Splash Pad with limited capacity for the summer season. Food & Beverage events were canceled at Chevy Chase Country Club. However, demand for The Heritage Park Sports Complex was high and brought in $273,079 in total revenue despite being closed for 82 days during prime usage months. Demand for golf was also high given limited recreational options during the pandemic. Weather was favorable in 2020 and Traditions at Chevy Chase was able to operate without any flood damage for the first time in three years. The pandemic allowed the District to re-focus its Parks and Facility Services operations. 2020 Major projects were greatly reduced and the opportunity was used to repair high-traffic areas in closed facilities as well as install barriers and other safety measures to protect staff and guests upon re-opening.
MD&A 9
For the first two months of 2020 Fitness and Wellness operations continued to grow in members and participation. The Health & Fitness Center had 2,423 members as of Feb 29,2020. The Health and Fitness center was closed from March 16 through July 5. Upon re-opening, operations were limited by state restrictions to capacity and offerings. Memberships declined as a result to 1,709 as of December 31, 2020. Traditions at Chevy Chase had a good season despite the late start to the season, Traditions ended the year with 31,450 rounds of golf which was more than 2019 (25,106). Additionally, the District operated the 9 hole Rob Roy golf course under the first year of an Intergovernmental Agreement with River Trails Park District to take over the management of the Rob Roy Golf Course. Rob Roy ended the year with 19,035 rounds of golf. Chevy Chase’s food and beverage operations hosted 44 F&B events compared to 492 in 2020. The District’s philosophy continues to be aware of historical data, while being optimistic for continued and new growth. Focus is placed on maintaining existing assets prior to taking on new projects. The District’s planned capital needs in accordance with its Board approved 2021-2025 Capital Replacement and Improvement Plan will be supported by multiple funding sources and transfers from its Corporate and Recreation Funds to the Capital Projects Fund in a safe manner. The Park District continues to operate in an efficient manner to maximize the services it is able to provide residents and, despite an ever-changing economy, expectations remain that it will continue to prosper. The District will continue to aggressively stay ahead of economic trends and react to the needs and resources of the community by offering affordable programs, parks, and services to all its residents. CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT This financial report is designed to familiarize our citizens, taxpayers and customers with the District’s finances and to demonstrate the District’s fiscal accountability for its operations. Questions concerning this report, or requests for additional financial information, should be directed to Jan Buchs, Executive Director, 100 Community Boulevard, Wheeling, Illinois 60090, telephone (847) 465-2935. The reader may wish also to visit the District’s website at www.wheelingparkdistrict.com.
MD&A 10
BASIC FINANCIAL STATEMENTS
WHEELING PARK DISTRICT WHEELING, ILLINOIS STATEMENT OF NET POSITION December 31, 2020
Governmental Business-Type Activities Activities ASSETS Cash and investments Receivables (net, where applicable, of allowances for uncollectibles) Property taxes Accounts Prepaid expenses Inventory Capital assets not being depreciated Capital assets being depreciated (net of accumulated depreciation)
$
12,869,729
$
2,178,998
Total
$
15,048,727
9,228,922 776,769 20,914 14,194,513
8,381 4,708 192,350 3,131,375
9,228,922 785,150 25,622 192,350 17,325,888
35,209,213
6,420,064
41,629,277
72,300,060
11,935,876
84,235,936
DEFERRED OUTFLOWS OF RESOURCES Pension items - IMRF OPEB items
477,921 21,195
246,201 7,448
724,122 28,643
Total deferred outflows of resources
499,116
253,649
752,765
72,799,176
12,189,525
84,988,701
517,244 88,799 82,517 12,858 37,134 346,678
149,816 34,217 7,375 994,809 64 -
667,060 123,016 89,892 1,007,667 37,198 346,678
1,874,050 9,359,068
407,414 1,381,726
2,281,464 10,740,794
12,318,348
2,975,421
15,293,769
DEFERRED INFLOWS OF RESOURCES Pension items - IMRF OPEB items Deferred property taxes
573,756 25,256 9,230,863
289,198 8,874 -
862,954 34,130 9,230,863
Total deferred inflows of resources
9,829,875
298,072
10,127,947
22,148,223
3,273,493
25,421,716
41,616,359
8,041,289
49,657,648
702,588 440,428 8,178 23,318 517,044 44,552 8,347 131,314 7,158,825
874,743
702,588 440,428 8,178 23,318 517,044 44,552 8,347 131,314 8,033,568
Total assets
Total assets and deferred outflows of resources LIABILITIES Accounts payable Accrued payroll Accrued interest payable Deposits on functions Other accruals Other unearned revenue Long-term liabilities Due within one year Due in more than one year Total liabilities
Total liabilities and deferred inflows of resources NET POSITION Net investment in capital assets Restricted for Debt service Retirement contributions Audit Museum Special populations Public safety Capital projects Liability insurance Unrestricted TOTAL NET POSITION
$
50,650,953
See accompanying notes to financial statements. -4-
$
8,916,032
$
59,566,985
WHEELING PARK DISTRICT WHEELING, ILLINOIS STATEMENT OF ACTIVITIES For the Year Ended December 31, 2020
FUNCTIONS/PROGRAMS PRIMARY GOVERNMENT Governmental Activities General government Culture and recreation Interest and fiscal charges
$
Total governmental activities Business-Type Activities Chevy Chase Country Club Total business-type activities TOTAL PRIMARY GOVERNMENT
Charges for Services
Expenses
$
3,539,924 6,205,697 536,341
$
1,101,599 -
Program Revenues Operating Capital Grants and Grants and Contributions Contribution
$
118,699
$
10,281,962
1,101,599
4,367,092
2,377,698
-
-
4,367,092
2,377,698
-
-
14,649,054
-5-
$
3,479,297
118,699
440,121 1,085,174 -
$
118,699
1,525,295
$
1,525,295
Net (Expense) Revenue and Change in Net Position Primary Government Governmental Activities
$
Business-Type Activities
(3,099,803) $ (4,018,924) (417,642)
-
(7,536,369)
-
-
(1,989,394)
(1,989,394)
(1,989,394)
(9,525,763)
-
9,367,133
310,784 90,990 79,273 170,819 -
93,480
9,460,613
1,830,764
(1,895,914)
NET POSITION, JANUARY 1
48,820,189
10,811,946
50,650,953
$
See accompanying notes to financial statements. -6-
8,808,747
14,158 79,322
CHANGE IN NET POSITION
$
(7,536,369)
(1,989,394)
310,784 90,990 65,115 170,819 (79,322)
NET POSITION, DECEMBER 31
(3,099,803) (4,018,924) (417,642)
(1,989,394)
8,808,747
Total general revenues
$
-
(7,536,369) General Revenues Taxes Property taxes Intergovernmental TIF surplus distributions Replacement taxes Investment income Miscellaneous Transfers
Total
8,916,032
(65,150) 59,632,135 $
59,566,985
WHEELING PARK DISTRICT WHEELING, ILLINOIS BALANCE SHEET GOVERNMENTAL FUNDS December 31, 2020
Corporate
Bond and Interest
Recreation
ASSETS Cash and investments Receivables (net, where applicable, of allowances for uncollectibles) Property taxes Interest Accounts Prepaid items
$
674,888
$
3,532,897 404,533 15,407
TOTAL ASSETS
1,530,597
$
2,797,338 224,065 4,878
702,902
1,414,639 -
$
4,627,725
$
4,556,878
$
$
17,484 34,483 37,133 -
$
29,080 49,696 12,858 1 346,678
$
2,117,541
LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES LIABILITIES Accounts payable Accrued payroll Deposits on functions Other accruals Other unearned revenue Total liabilities DEFERRED INFLOWS OF RESOURCES Unavailable property taxes Total liabilities and deferred inflows of resources FUND BALANCES Nonspendable Prepaid items Restricted Debt service Employee retirement Audit Public safety Museum Special populations Capital projects Liability insurance Assigned Recreation programs Capital projects Unassigned General fund
89,100
438,313
3,533,564
2,797,919
1,414,953
3,622,664
3,236,232
1,414,953
15,407
4,878
-
-
-
$
-7-
4,627,725
702,588 -
-
1,005,061
TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES
-
1,315,768 -
989,654
Total fund balances
-
1,320,646
$
4,556,878
702,588
$
2,117,541
Capital Projects
$
Bond Project
5,966,249
$
148,171 6,114,420
$
$
469,423 -
$
469,423
469,423
-
$
5,644,997
2,816,285
$
-
12,869,729
9,228,922 776,769 20,914
$
2,663,485
$
22,896,334
$
1,257 4,620 -
$
517,244 88,799 12,858 37,134 346,678
-
5,877
1,002,713
-
1,484,427
9,230,863
-
1,490,304
10,233,576
-
629
20,914
440,428 8,178 44,552 23,318 517,044 8,347 130,685
702,588 440,428 8,178 44,552 23,318 517,044 2,824,632 130,685
-
-
1,315,768 5,644,997
-
-
989,654
2,816,285
$
1,178,808
Total Governmental Funds
1,484,048 629
2,816,285 -
5,644,997
6,114,420
2,816,285
-
$
$
Total Nonmajor Governmental Funds
2,816,285
1,173,181
$
2,663,485
12,662,758
$
22,896,334
See accompanying notes to financial statements. -8-
WHEELING PARK DISTRICT WHEELING, ILLINOIS RECONCILIATION OF FUND BALANCES OF GOVERNMENTAL FUNDS TO THE GOVERNMENTAL ACTIVITIES IN THE STATEMENT OF NET POSITION December 31, 2020
FUND BALANCES OF GOVERNMENTAL FUNDS
$ 12,662,758
Amounts reported for governmental activities in the statement of net position are different because: Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the governmental funds
49,403,726
Differences between expected and actual experiences, assumption changes, net differences between projected and actual earnings and contributions subsequent to the measurement date for the Illinois Municipal Retirement Fund are recognized as deferred outflows of resources and deferred inflows of resources on the statement of net position Deferred outflows of resources Deferred inflows of resources
477,921 (573,756)
Differences between expected and actual experiences, assumption changes, net differences between projected and actual earnings and contributions subsequent to the measurement date for the Other Postemployement Benefit Plan are recognized as deferred outflows of resources and deferred inflows of resources on the statement of net position Deferred outflows of resources Deferred inflows of resources
21,195 (25,256)
Long-term liabilities are not due and payable in the current period and, therefore, are not reported in the governmental funds General obligation bonds payable Net pension liability - Illinois Municipal Retirement Fund Total OPEB liability Unamortized premiums on bonds payable Compensated absences payable Accrued interest on long-term liabilities is reported as a liability on the statement of net position NET POSITION OF GOVERNMENTAL ACTIVITIES
See accompanying notes to financial statements. -9-
(9,668,000) (252,204) (154,734) (935,652) (222,528)
(82,517) $ 50,650,953
WHEELING PARK DISTRICT WHEELING, ILLINOIS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS For the Year Ended December 31, 2020
Corporate REVENUES Taxes Charges for services Intergovernmental Investment income Donations Miscellaneous
$
Total revenues EXPENDITURES Current General government Culture and recreation Capital outlay Debt service Principal retirement Interest and fiscal charges
3,088,489 7,194 401,774 55,966 3,612 146,100
$
EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FINANCING SOURCES (USES) Bonds issued at par Bond premium Payment to escrow agent Transfers in Transfers (out)
3,626,643
2,053,790 23,103 6,412
2,636,316 24,181
NET CHANGE IN FUND BALANCES FUND BALANCES, JANUARY 1 $
FUND BALANCES, DECEMBER 31
- 10 -
$
1,457,954 1,457,954
-
170,000 134,248
1,375,000 314,901
2,083,305
2,964,745
1,689,901
1,619,830
661,898
-
Total other financing sources (uses)
2,509,002 1,086,812 9,149 21,680
3,703,135
-
Total expenditures
Bond and Interest
Recreation
(231,947)
-
5,205,000 815,666 (5,179,250) -
(1,609,115)
(645,310)
(1,609,115)
(645,310)
841,416
10,715
16,588
609,469
994,346
1,304,058
93,119
1,005,061
$
1,320,646
$
702,588
Capital Projects
$
1,085,174 440,123 -
Bond Project
$
1,525,297
$
-
1,450,646
10,500 179,614
-
-
1,450,646
190,114
74,651
(190,114)
-
1,418,000 -
1,410,000 -
$
-
Total Nonmajor Governmental Funds
-
1,812,710 59,287 7,022
Total Governmental Funds
$
8,868,155 1,094,006 1,546,235 65,115 443,735 174,802
1,879,019
12,192,048
661,636 801,500 12,239
2,725,926 3,460,919 1,673,092
196,743
1,545,000 645,892
1,672,118
10,050,829
206,901
2,141,219
(530,750) 765,103 -
6,623,000 815,666 (5,710,000) 2,175,103 (2,254,425)
1,410,000
1,418,000
234,353
1,649,344
1,484,651
1,227,886
441,254
3,790,563
4,160,346
1,588,399
731,927
8,872,195
5,644,997
$
2,816,285
$
1,173,181
$
12,662,758
See accompanying notes to financial statements. - 11 -
WHEELING PARK DISTRICT WHEELING, ILLINOIS RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TO THE GOVERNMENTAL ACTIVITIES IN THE STATEMENT OF ACTIVITIES For the Year Ended December 31, 2020
NET CHANGE IN FUND BALANCES TOTAL GOVERNMENTAL FUNDS
$
3,790,563
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
1,652,133
Some expenses in the statement of activities do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds Depreciation of capital assets
(3,539,185)
The issuance of long-term debt and related costs are shown on the fund financial statements as other financing sources (uses) and current expenditures but are recorded as long-term liabilities on the government-wide statements Issuance of general obligation bonds Premium on bond issuance Payment to escrow agent
(6,623,000) (815,666) 5,710,000
The repayment of the principal portion 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
1,545,000
Governmental funds report the effect of premiums, discounts and similar items when debt is first issued, whereas these amounts are deferred and amortized in the statement of activities
105,144
The change in accrued interest payable on long-term debt is reported as an expense on the statement of activities
4,407
The change in the Illinois Municipal Retirement Fund net pension liability and deferred outflows/inflows of resources is not a source or use of a financial resource
18,561
The change in the total OPEB liability and deferred outflows/inflows of resources is not a source or use of a financial resource
(6,211)
The change in compensated absences liability is reported as an expense on the statement of activities
(10,982)
CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES
See accompanying notes to financial statements. - 12 -
$
1,830,764
WHEELING PARK DISTRICT WHEELING, ILLINOIS STATEMENT OF NET POSITION PROPRIETARY FUND December 31, 2020
Chevy Chase Country Club CURRENT ASSETS Cash and cash equivalents Receivables (net, where applicable, of allowances for uncollectibles) Accounts Prepaid expenses Inventory Total current assets
$
2,178,998
8,381 4,708 192,350 2,384,437
NONCURRENT ASSETS Capital assets not being depreciated Capital assets being depreciated Accumulated depreciation
3,131,375 21,374,813 (14,954,749)
Total noncurrent assets
9,551,439
Total assets
11,935,876
DEFERRED OUTFLOWS OF RESOURCES Pension items - IMRF OPEB items
246,201 7,448
Total deferred outflows of resources
253,649
Total assets and deferred outflows of resources CURRENT LIABILITIES Accounts payable Accrued payroll Accrued interest payable Deposits on functions Other accruals General obligation park bonds - current portion Total OPEB liability - current portion Compensated absences payable Total current liabilities
12,189,525
149,816 34,217 7,375 994,809 64 350,000 2,297 55,117 1,593,695
LONG-TERM LIABILITIES General obligation park bonds - long-term portion Net pension liability - IMRF Total OPEB liability - long-term portion Compensated absences payable
1,160,150 129,923 52,068 39,585
Total long-term liabilities
1,381,726
Total liabilities
2,975,421
(This schedule is continued on the following page.) - 13 -
WHEELING PARK DISTRICT WHEELING, ILLINOIS STATEMENT OF NET POSITION (Continued) PROPRIETARY FUND December 31, 2020
Chevy Chase Country Club DEFERRED INFLOWS OF RESOURCES Pension items - IMRF OPEB items
$
Total deferred inflows of resources
298,072
Total liabilities and deferred inflows of resources
3,273,493
NET POSITION Net investment in capital assets Unrestricted TOTAL NET POSITION
See accompanying notes to financial statements. - 14 -
289,198 8,874
8,041,289 874,743 $
8,916,032
WHEELING PARK DISTRICT WHEELING, ILLINOIS STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITION PROPRIETARY FUND For the Year Ended December 31, 2020
Chevy Chase Country Club OPERATING REVENUES Charges for services Miscellaneous
$
Total operating revenues
2,331,419 46,279 2,377,698
OPERATING EXPENSES EXCLUDING DEPRECIATION
3,125,305
OPERATING INCOME (LOSS) BEFORE DEPRECIATION AND AMORTIZATION
(747,607)
Depreciation
1,206,698
OPERATING INCOME (LOSS)
(1,954,305)
NON-OPERATING REVENUES (EXPENSES) Interest expense Investment income
(35,089) 14,158
Total non-operating revenues (expenses)
(20,931)
NET INCOME (LOSS) BEFORE TRANSFERS
(1,975,236)
TRANSFERS Transfers in (out) Corporate Fund IMRF Fund FICA Fund
176,219 (46,422) (50,475)
Total transfers
79,322
CHANGE IN NET POSITION
(1,895,914)
NET POSITION, JANUARY 1
10,811,946
NET POSITION, DECEMBER 31
See accompanying notes to financial statements. - 15 -
$
8,916,032
WHEELING PARK DISTRICT WHEELING, ILLINOIS STATEMENT OF CASH FLOWS PROPRIETARY FUND For the Year Ended December 31, 2020
Chevy Chase Country Club CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers and users Payments to suppliers Payments to employees
$
2,580,779 (1,637,479) (1,569,524)
Net cash from operating activities
(626,224)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers in Transfers (out)
176,219 (96,897)
Net cash from noncapital financing activities
79,322
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Principal payments - general obligation park bonds Capital assets purchased Interest paid
(340,000) (45,000) (54,449)
Net cash from capital and related financing activities
(439,449)
CASH FLOWS FROM INVESTING ACTIVITIES Interest received
14,158
Net cash from investing activities
14,158
NET INCREASE IN CASH AND CASH EQUIVALENTS
(972,193)
CASH AND CASH EQUIVALENTS, JANUARY 1 CASH AND CASH EQUIVALENTS, DECEMBER 31
(This statement is continued on the following page.) - 16 -
3,151,191 $
2,178,998
WHEELING PARK DISTRICT WHEELING, ILLINOIS STATEMENT OF CASH FLOWS (Continued) PROPRIETARY FUND For the Year Ended December 31, 2020
Chevy Chase Country Club RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH FLOWS FROM OPERATING ACTIVITIES OPERATING ACTIVITIES Operating income (loss) Adjustments to reconcile operating income (loss) to net cash from operating activities Depreciation Changes in assets and liabilities Accounts receivable Inventory Prepaid expenses Deferred outflows of resources - pension items - IMRF Deferred outflows of resources - OPEB Net pension liability - IMRF Total OPEB liability Accounts payable Accrued payroll Deposits on functions Other accruals Compensated absences payable Deferred inflows of resources - pension items - IMRF Deferred inflows of resources - OPEB
$
1,206,698 15,182 8,101 5,261 328,835 838 (442,771) 2,260 (58,581) (17,541) 187,899 (9,225) (15,064) 108,494 7,695
Total adjustments NET CASH FROM OPERATING ACTIVITIES
See accompanying notes to financial statements. - 17 -
(1,954,305)
1,328,081 $
(626,224)
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS December 31, 2020
1.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements of Wheeling Park District (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.
Financial Reporting Entity The District is a municipal corporation governed by an elected seven-member board. As required by GAAP, these financial statements present the District (the primary government). There are no component units that are required to be included in the District’s reporting entity because of the significance of their operational or financial relationship with the District.
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. The District’s funds are classified into the following categories: governmental and proprietary. Governmental funds are used to account for all or most of the District’s general activities, including the collection and disbursement of restricted or committed monies (special revenue funds), the acquisition or construction of major capital assets other than those financed by proprietary funds (capital projects funds) and the accumulation of resources that are restricted, committed or assigned for the payment of principal and interest on long-term obligations (debt service funds). The General Fund is used to account for all activities of the District not accounted for in another fund.
18 --- 14
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
1.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) c.
Government-Wide and Fund Financial Statements 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). The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all activities of the District. With the exception of interfund services provided and used, the effect of material interfund activity has been eliminated from these statements in the process of consolidation. 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 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. Separate financial statements are provided for governmental funds and proprietary funds. Major individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements. The District reports the following major governmental funds: The Corporate Fund (the District’s General Fund) accounts for the resources traditionally associated with local government, except those accounted for in another fund. Included in these services are general administration and park maintenance. Financing is primarily provided from an annual property tax levy and Illinois personal property replacement taxes. The Recreation Fund accounts for the operations of the District’s recreational programs and concessions. Financing is provided from an annual property tax levy restricted by the state for recreation purposes and fees and charges for programs and activities assigned for recreation purposes. The Bond and Interest Fund accounts for the accumulation of funds that are restricted or assigned for repayment of principal and interest on the District’s general obligation debt where repayment is financed by an annual property tax levy. 19 --- 15
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
1.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) c.
Government-Wide and Fund Financial Statements (Continued) The Capital Projects Fund was established by the District in 2005 to segregate revenues received from such things as land/cash donations, transfers from other funds, general obligation bonds and grant revenues, which are restricted and assigned for capital projects. The Bond Project Fund accounts for the proceeds of nonreferendum debt which are restricted for capital projects. The District reports the following major proprietary fund: The Chevy Chase Country Club Fund accounts for the operations of the Chevy Chase Country Club and the operations and maintenance of the Traditions at Chevy Chase Golf Course and the Rob Roy Golf Course and Banquet Facility under an Intergovernmental agreement with the River Trails Park District. Operations include food and beverage sales, sales of related services and merchandise and golf activities. Financing is provided by the proceeds from user changes.
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. 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. Non-operating revenue/expenses are incidental to the operations of these funds. Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. 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. 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. 20 --- 16
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
1.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) d.
Measurement Focus, Basis of Accounting and Financial Statement Presentation (Continued) Those revenues susceptible to accrual (within 60 days) are property taxes, interest revenue and charges for services. The District reports deferred/unavailable revenue and unearned revenue on its financial statements. Deferred/unearned revenues arise when a potential revenue does not meet both the measurable and available or earned criteria for recognition in the current period. Unearned revenues also arise when resources are received by the District before it has a legal claim to them or prior to the provision of services, as when grant monies are received prior to the incurrence of qualifying expenditures/expenses. In subsequent periods, when both revenue recognition criteria are met, or when the District has a legal claim to the resources, the deferred inflow for deferred/unavailable revenue or the liability for unearned revenue is removed from the financial statements and revenue is recognized.
e.
Cash and Investments Cash and Cash Equivalents For purposes of the statement of cash flows, the District considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Investments Investments with a maturity of less than one year when purchased, non-negotiable certificates of deposit and other nonparticipating investments are stated at cost or amortized cost. Investments with a maturity greater than one year when purchased are stated at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
f.
Inventories Inventories are valued at cost, which approximates market, using the weighted average method.
g.
Prepaid Items/Expenses Payments made to vendors for services that will benefit periods beyond the date of this report are recorded as prepaid items. 21 --- 17
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
1.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) h.
Capital Assets Capital assets, which include property, plant, equipment, infrastructure assets (e.g., bike trails, paths, roads, bridges and similar items) and intangibles (software and easements) are reported in the applicable governmental or business-type activities columns in the government-wide financial statements. Capital assets are defined by the District as assets with an initial, individual cost of more than $5,000 and an estimated useful life in excess of three years. Such assets are reported at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at acquisition 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. Property, plant and equipment are depreciated using the straight-line method over the following estimated useful lives: Assets
Years
Land improvements Building and improvements Equipment
i.
3-50 5-50 3-10
Compensated Absences Vested or accumulated vacation leave that is owed to retirees or terminated employees is reported as an expenditure and a fund liability of the governmental fund that will pay it. The government-wide financial statements record unused vacation leave as expenses and liabilities when earned by employees. Vested or accumulated vacation leave of proprietary funds is recorded as an expense and liability of those funds as the benefits accrue to employees. No liability is reported for unpaid accumulated sick leave since it is the District’s policy to record the cost of sick leave only when used as it does not vest or accumulate, nor is it paid upon termination and/or retirement.
j.
Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, deferred inflows and outflows of resources and disclosure of contingent assets, liabilities and deferred inflows and outflows of resources at the date of the financial statements and the reported amounts of revenues and expenditures/expenses during the reporting period. Actual results could differ from those estimates. 22 --- 18
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
1.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) k.
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, business-type activities or proprietary fund financial statements. Unamortized losses or gains on refundings, bond premiums and discounts are deferred and amortized over the life of the bonds. Bonds payable are reported net of the applicable bond premium or discount. Issuance costs are reported as expenses. In the fund financial statements, governmental funds recognize bond premiums and discounts 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.
l.
Fund Balance/Net Position In the fund financial statements, governmental funds report nonspendable fund balance for amounts that are either not in spendable form or which are 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 is constrained by formal actions of the District’s Board of Commissioner’s, which is considered the District’s highest level of decision-making authority. Formal action to establish, modify or rescind commitments involves ordinances approved by the Board of Commissioner’s. 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 District’s Executive Director through the District’s fund balance policy. Any residual fund balance in the Corporate Fund, including fund balance targets and any deficit fund balance of any other governmental fund is reported as unassigned. 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 position is legally restricted by outside parties for a specific purpose. Net investment in capital assets represents the book value of capital assets less any long-term debt issued to acquire or construct the capital assets. 23 --- 19
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
1.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) m.
Interfund Transactions Interfund 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. All other interfund transactions, except reimbursements, are reported as transfers.
n.
Deferred Outflows/Inflows of Resources In addition to assets, the statement of financial position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net assets that applies to future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until that time. In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net assets that applies to future period(s) and so it will not be recognized as an inflow of resources (revenue) until that time. These amounts are deferred and recognized as an inflow of resources in the period these amounts become available.
2.
DEPOSITS AND INVESTMENTS The District categorizes the fair value measurements within the fair value hierarchy established by GAAP. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; and Level 3 inputs are significant unobservable inputs. The District held no investments subject to fair value measurement at December 31, 2020. Permitted Deposits and Investments - Illinois Compiled Statutes (ILCS) and the District’s investment policy authorize the District to invest in obligations issued by the United States Government, investments constituting direct obligations of any bank, short-term commercial paper of United States of America corporations with assets exceeding $500 million, short-term obligations issued by the Federal National Mortgage Association, shares or other securities issued by savings and loan associations, share accounts of credit unions chartered in the United States of America with its principal office located in Illinois, securities issued by The Illinois Funds, Illinois Park District Liquid Asset Fund (IPDLAF), Illinois Metropolitan Investment Fund (IMET) and other securities as allowed by the Illinois Public Funds Investment Act. IMET meets the criteria contained in GASB Statement No. 79, Certain External Investment Pools and Pool Participants. This allows the District to measure all of its investments in IMET at amortized cost. 24 --- 20
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
2.
DEPOSITS AND INVESTMENTS (Continued) In addition, the Board of Commissioners of the District has adopted an investment policy which provides further restrictions on the investment of District funds. 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 objectives of the policy, in order of priority are: legality, safety (preservation of capital and protection of investment principal), liquidity and yield. Deposits with Financial Institutions Custodial credit risk for deposits with financial institutions is the risk that in the event of bank failure, the District’s deposits may not be returned to it. The District’s investment policy requires pledging of collateral to be held in the name of the District by the District’s agent with a fair value of at least 105% for all bank balances in excess of federal depository insurance. Investments In accordance with its investment policy, the District limits its exposure to interest rate risk by structuring its portfolio so that securities mature to meet cash requirements for ongoing operations, thereby avoiding the need to sell securities on the open market prior to maturity and by investing operating funds primarily in short-term securities. Credit risk is the risk that the issuer of a debt security will not pay its par value upon maturity. The District limits this risk by investing in certificate of deposits, with various financial institutions which is consistent with the District’s investment policy. Concentration of credit risk is the risk that the District has a high percentage of their investments invested in one type of investment. The District’s investment policy requires diversification of investment to avoid unreasonable risk. 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 in a custodial account with the trust department of an approved financial institution. At December 31, 2020, the District did not have greater than 5% of its overall portfolio invested in any institution. The investment policy does not include any limitations on individual investment types. 25 --- 21
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
3.
RECEIVABLES Taxes Property taxes for 2019 attach as an enforceable lien on January 1, 2019, on property values assessed as of the same date. Taxes are levied by December of the fiscal year (by passage of a Tax Levy Ordinance). Tax bills for the 2019 levy are prepared by Cook County and issued on or about February 1, 2020 and July 1, 2020 and are payable in two installments on or about March 1, 2020 and August 1, 2020. Tax bills are prepared by Lake County and are issued on or about May 1, 2020 and August 1, 2020 and are payable in two installments on or about June 1, 2019 and September 1, 2019. The Counties collect such taxes and remit them periodically. The allowance for uncollectible taxes has been stated at 3% of the tax levy, to reflect actual collection experience. Since 2020 levy is intended to fund the 2021 calendar year the levy has been recorded as a receivable and deferred inflow of resources.
4.
JOINT GOVERNED ORGANIZATION - NORTHWEST SPECIAL RECREATION ASSOCIATION The District is a member of the Northwest Special Recreation Association (NWSRA), which was organized by 16 area park districts in order to provide special recreation programs to the physically and mentally handicapped within their districts and to share the expenses of such programs on a cooperative basis. Each member districts’ fiscal year 2020 contribution is based on its pro rata share of 75% of the assessed valuation and 25% of the gross populations. For the year ended December 31, 2020, the District contributed $230,418 to NWSRA. NWSRA’s Board of Directors consists of one member from each participating district. The Board of Directors is the governing body of NWSRA and is responsible for establishing all major policies and changes therein and for approving all budgets, capital outlay, programming and master plans. The District is not financially accountable for the activities of NWSRA and, accordingly, NWSRA has not been included in the accompanying financial statements. Complete financial statements for NWSRA can be obtained from NWSRA administrative offices at 3000 Central Road, Rolling Meadows, Illinois, 60008.
26 --- 22
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
5.
CAPITAL ASSETS Capital asset activity for the year ended December 31, 2020 was as follows: Beginning Balances GOVERNMENTAL ACTIVITIES Capital assets not being depreciated Land Land improvements Construction in progress Permanent easement Total capital assets not being depreciated
$ 6,242,928 7,654,835 404,379 275,713 14,577,855
Increases
$
Ending Balances
Decreases
16,037 16,037
$
399,379 399,379
$ 6,242,928 7,654,835 21,037 275,713 14,194,513
Capital assets being depreciated Land improvements Buildings and improvements Equipment Total capital assets being depreciated
17,329,570 42,895,925 3,696,961 63,922,456
170,090 1,555,746 309,639 2,035,475
-
17,499,660 44,451,671 4,006,600 65,957,931
Less accumulated depreciation for Land improvements Buildings and improvements Equipment Total accumulated depreciation
10,077,338 14,369,852 2,762,343 27,209,533
1,481,964 1,749,936 307,285 3,539,185
-
11,559,302 16,119,788 3,069,628 30,748,718
36,712,923
(1,503,710)
-
35,209,213
GOVERNMENTAL ACTIVITIES CAPITAL ASSETS, NET
$ 51,290,778
$ (1,487,673)
$
399,379
$ 49,403,726
BUSINESS-TYPE ACTIVITIES Capital assets not being depreciated Land Total capital assets not being depreciated
$ 3,131,375 3,131,375
$
$
-
$ 3,131,375 3,131,375
Total capital assets being depreciated, net
-
Capital assets being depreciated Land improvements Building and improvements Machinery and equipment Total capital assets being depreciated
4,468,246 15,109,322 1,752,245 21,329,813
45,000 45,000
-
4,468,246 15,109,322 1,797,245 21,374,813
Less accumulated depreciation for Land improvements Building and improvements Machinery and equipment Total accumulated depreciation
3,983,283 8,424,704 1,340,064 13,748,051
178,498 844,823 183,377 1,206,698
-
4,161,781 9,269,527 1,523,441 14,954,749
7,581,762
(1,161,698)
-
6,420,064
$ 10,713,137
$ (1,161,698)
-
$ 9,551,439
Total capital assets being depreciated, net BUSINESS-TYPE ACTIVITIES CAPITAL ASSETS, NET
27 --- 23
$
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
5.
CAPITAL ASSETS (Continued) Depreciation expense was charged to functions/programs of the primary government as follows:
6.
GOVERNMENTAL ACTIVITIES General government Culture and recreation
$
TOTAL DEPRECIATION EXPENSE - GOVERNMENTAL ACTIVITIES
$ 3,539,185
817,943 2,721,242
RISK MANAGEMENT The District is exposed to various risks of loss to torts; theft of, damage to and destruction of assets; errors and omissions; injuries to employees; illnesses of employees; and natural disasters. a.
Park District Risk Management Agency Since 1984, the District has been a member of the Park District Risk Management Agency (PDRMA) Property/Casualty Program. PDRMA is a public entity risk pool consisting of park districts, forest preserve districts, special recreation associations and certain nonprofit organizations serving the needs of public entities formed in accordance with the terms of an intergovernmental cooperative agreement among its members. Losses exceeding the per occurrence self-insured and reinsurance limit would be the responsibility of the District. 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 by-laws 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. The District does not exercise any control over the activities of PDRMA beyond its representation on the Council and Membership Assembly. Members have a contractual obligation to fund any deficit of PDRMA attributable to a membership year during which they were a member. The District is not aware of any supplemental assessments owed to PDRMA for the past claim year. 28 --- 24
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
6.
RISK MANAGEMENT (Continued) a.
Park District Risk Management Agency (Continued) 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. The District’s payments to the PDRMA Property/Casualty Program are displayed on the financial statements as expenditures in the governmental funds. Since 98.39% of PDRMA’s liabilities are reserves for losses and loss adjustment expenses which are based on an actuarial estimate of the ultimate losses incurred, the member balances are impacted annually as more recent loss information becomes available. Complete financial statements for PDRMA can be obtained from PDRMA’s administration offices at 2033 Burlington Avenue, Lisle, Illinois 60532.
b.
PDRMA Health Program Since 1994, the District has participated in the PDRMA Health Program, a health benefits pool of park districts, special recreation associations and public service organizations through which medical, vision, dental, life and prescription drug coverages are provided in excess of specified limits for the members, acting as a single insurable unit. The pool purchases excess insurance covering single claims over $250,000. Until January 1, 2001, the PDRMA Health Program was a separate legal entity known as the Illinois Park Employees Health Network (IPEHN). The District’s payments to the PDRMA Health Program are displayed on the financial statements as expenditures in the governmental funds. Members can choose to provide any combination of coverages available to their employees and pay premiums accordingly. As a member of the PDRMA Health Program, the District is represented on the Health Program Council as well as the Membership Assembly and is entitled to one vote on each. The relationship between the District and the PDRMA Health Program is governed by a contract and by-laws that have been adopted by resolution of each member’s governing body. Members are contractually obligated to make all monthly payments to the PDRMA Health Program and to fund any deficit of the PDRMA Health Program upon dissolution of the pool. They will share in any surplus of the pool based on a decision by the Health Program Council. 29 --- 25
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
6.
RISK MANAGEMENT (Continued) b.
PDRMA Health Program (Continued) The District does not have any control over the activities of the PDRMA Health Program beyond its representation on the Health Program Council and Membership Assembly. The District is not aware of any supplemental contributions owed to the PDRMA Health Program at December 31, 2020. A large percentage of the PDRMA Health Program’s liabilities are reserves for losses and loss adjustment expenses, which are based on an actuarial estimate of the ultimate losses incurred. Complete financial statements for the PDRMA Health Program can be obtained from PDRMA’s administration offices at 2033 Burlington Avenue, Lisle, Illinois 60532.
7.
LONG-TERM DEBT a.
General Obligation Bonds The District issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. In addition, general obligation bonds have been issued to refund general obligation bonds. General obligation bonds are direct obligations and pledge the full faith and credit of the District. General obligation bonds currently outstanding are as follows: Issue
Fund Debt Retired By
Balances January 1
Additions
Reductions
Balances December 31
Current Portion
GOVERNMENTAL ACTIVITIES $8,800,000 Taxable General Obligation Bonds (Alternate Revenue Source), Series 2010, due in installments of $365,000 to $635,000 plus interest at 1.65% to 7.00% through November 1, 2030.
Bond and Interest
$3,375,000 General Obligation Park Bonds (Alternate Revenue Source), Series 2018A, due in installments of $160,000 to $290,000 plus interest at 3.10% to 5.00% through November 1, 2033.
Recreation
$
5,710,000
3,215,000
30 --- 26
$
-
$ 5,710,000
-
170,000
$
-
3,045,000
$
-
180,000
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
7.
LONG-TERM DEBT (Continued) a.
General Obligation Bonds (Continued) Fund Debt Retired By
Balances January 1
$1,375,000 General Obligation Limited Tax Park Bonds, Series 2019, due in one installment of $1,375,000 plus interest at 1.75%, payable on November 1, 2020 (direct placement).
Bond and Interest
$ 1,375,000
$5,205,000 General Obligation Refunding Bonds (Alternate Revenue Source), Series 2020, due in installments of $140,000 to $645,000 plus interest at 3% to 4% through November 1, 2030
Bond and Interest
$1,418,000 General Obligation Limited Tax Park Bonds, Series 2020B, due in one installment of $1,418,000 plus interest at 0.83%, payable on November 1, 2021 (direct placement).
Bond and Interest
Issue
Additions
Balances December 31
Reductions
Current Portion
GOVERNMENTAL ACTIVITIES (Continued)
TOTAL GOVERNMENTAL ACTIVITIES
$
-
$ 1,375,000
$
-
$
-
-
5,205,000
-
5,205,000
140,000
-
1,418,000
-
1,418,000
1,418,000
$ 10,300,000
$ 6,623,000
$ 7,255,000
$ 9,668,000
$ 1,738,000
$ 1,815,000
$
$
$ 1,475,000
$
BUSINESS-TYPE ACTIVITIES $3,380,000 General Obligation Park Bonds (Alternate Revenue Source), Series 2014A, due in installments of $295,000 to $385,000 plus interest at 3% through November 1, 2024.
Chevy Chase Country Club
31 --- 27
-
340,000
350,000
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
7.
LONG-TERM DEBT (Continued) a.
General Obligation Bonds (Continued) General Obligation Park Bonds (Alternate Revenue Source), Series 2014A The alternate revenue bonds and the interest thereon are limited obligations of the District payable solely from the pledged revenues. The pledged revenues are the revenues received by the Corporate Fund to the fullest extent permitted by law. However, the District intends to pay a portion of the debt service on the bonds from the net revenues of the Chevy Case Country Club and, accordingly, the bonds are reported as a liability of that fund. This pledge will remain until all bonds are retired or mature in 2024, as disclosed above. During the current fiscal year, the principal and interest on the bonds was approximately 11% of the pledged revenues. General Obligation Taxable Bonds (Alternate Revenue Source), Series 2018A The alternate revenue bonds and the interest thereon are limited obligations of the District payable solely from the pledged revenues. The pledged revenues are the moneys lawfully available in the District’s recreation fund. If such revenue sources are insufficient to pay such alternate revenue bonds, ad valorem property taxes levied upon all available property in the District without limitation as to rate or amount, are authorized to be extended and collected to pay the principal and interest on such alternate revenue bonds. This pledge will remain until all bonds are retired or mature in 2033, as disclosed above. During the current fiscal year, the principal and interest on the bonds was approximately 8% of the pledged revenues. General Obligation Refunding Park Bonds (Alternate Revenue Source), Series 2020 The alternate revenue bonds and the interest thereon are limited obligations of the District payable solely from the pledged revenues. The pledged revenues are the moneys lawfully available in the District’s recreation fund. If such revenue sources are insufficient to pay such alternate revenue bonds, ad valorem property taxes levied upon all available property in the District without limitation as to rate or amount, are authorized to be extended and collected to pay the principal and interest on such alternate revenue bonds. This pledge will remain until all bonds are retired or mature in 2030, as disclosed above. During the current fiscal year, the principal and interest on the bonds was approximately 2% of the pledged revenues.
32 --- 28
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
7.
LONG-TERM DEBT (Continued) a.
General Obligation Bonds (Continued) General Obligation Limited Tax Park Bonds, Series 2020B The District issued $1,418,000 General Obligation Limited Tax Park Bonds, Series 2020B to finance various improvements. The bonds were issued directly to a bank, bear interest at 0.83% and are payable in one installment on November 1, 2021. The bonds are considered general obligations payable from property taxes. The bonds are pledged by the bank to the District to secure any uninsured deposits that the District may have at the bank. Annual debt service requirements to maturity are as follows: Fiscal Year Ending December 31,
General Obligation Bonds Governmental Activities Business-Type Activities Principal Interest Principal Interest
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033
$
320,000 665,000 695,000 725,000 755,000 790,000 825,000 850,000 880,000 905,000 270,000 280,000 290,000
$
342,958 300,598 272,148 242,398 211,348 178,998 145,148 114,308 88,440 61,530 33,600 22,800 11,600
$
350,000 365,000 375,000 385,000 -
$
44,250 33,750 22,800 11,550 -
TOTAL
$
8,250,000
$
2,025,874
$
1,475,000
$
112,350
General Obligation Bonds Direct Placement Governmental Activities Principal Interest
Fiscal Year Ending December 31, 2021
$
1,418,000
$
11,900
TOTAL
$
1,418,000
$
11,900
33 --- 29
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
7.
LONG-TERM DEBT (Continued) b.
Changes in Long-Term Liabilities During the fiscal year, the following changes occurred in long-term liabilities: Balances January 1
GOVERNMENTAL ACTIVITIES General obligation bonds General obligation bonds direct placement Unamortized premium Net pension liability# Total OPEB liability* Compensated absences* TOTAL
$
8,925,000
Additions
$
1,375,000 225,130 1,189,687 171,981 211,546 $ 12,098,344
Refunding
5,205,000
$
5,205,000
1,418,000 815,666 130,506 $
7,569,172
Retirement
$
$
5,205,000
$
675,000
Balances December 31
$
8,250,000
1,375,000 105,144 937,483 17,247 119,524
1,418,000 935,652 252,204 154,734 222,528
3,229,398
$ 11,233,118
Current Portion
$
320,000 1,418,000 6,539 129,511
$
1,874,050
*Primarily liquidated by the Corporate Fund and Recreation Fund. #Primarily liquidated by IMRF Fund. Balances January 1
Additions
Reductions
Balances December 31
Current Portion
BUSINESS-TYPE ACTIVITIES General obligation bonds Unamortized premium Net pension liability Total OPEB liability Compensated absences
$ 1,815,000 52,811 572,694 52,105 109,765
$
2,260 46,955
$
340,000 17,661 442,771 62,018
$ 1,475,000 35,150 129,923 54,365 94,702
$
350,000 2,297 55,117
TOTAL
$ 2,602,375
$
49,215
$
862,450
$ 1,789,140
$
407,414
c.
Current Refunding On September 8, 2020, the District issued $5,205,000 General Obligation Refunding Bonds, Series 2020. The proceeds were used to refund the General Obligation Bonds, Series 2010. The refunded bonds were paid from escrow on November 1, 2020. As a result of the refunding, the District achieved cash flow savings of $882,650 and an economic gain on the refunding of $876,802.
34 --- 30
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
7.
LONG-TERM DEBT (Continued) d.
Legal Debt Margin Chapter 70, Section 1205/6-2 of the Illinois Compiled Statutes provides, “ ... for the payment of land condemned or purchased for parks or boulevards, for the building, maintaining, improving and protecting of the same and for the payment of the expenses incident thereto, or for the acquisition of real estate and lands to be used as a site for an armory, any park district is authorized to issue the bonds or notes of such park district and pledge its property and credit therefore to an amount including existing indebtedness of such district so that the aggregate indebtedness of such district does not exceed 2.875% of the value of the taxable property therein, to be ascertained by the last assessment for state and county taxes previous to the issue from time to time of such bonds or notes or, until January 1, 1983, if greater, the sum that is produced by multiplying the District’s 1978 equalized assessed valuation by the debt limitation percentage in effect on January 1, 1979, if a petition, signed by voters in number equal to not less than 2% of the voters of the District, who voted at the last general election in the District, asking that the authorized aggregate indebtedness of the District be increased to not more than 5.75% of the value of the taxable property therein, is presented to the Board and such increase is approved by the voters of the District at a referendum held on the question.” In 1977, such a referendum was approved (from 2.50% to 5.00%). When the personal property tax was eliminated, the limitation was raised to 5.75%.
8.
INTERFUND TRANSFERS Interfund transfers for the year ended December 31, 2020 were as follows: Transfers In MAJOR GOVERNMENTAL Corporate Chevy Chase Country Club Capital projects Debt service Total corporate
$
Recreation Capital projects Debt service Total recreation
Transfers Out
-
-
35 --- 31
$
176,219 1,077,000 355,896 1,609,115
333,000 312,310 645,310
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
8.
INTERFUND TRANSFERS (Continued) Transfers In MAJOR GOVERNMENTAL (Continued) Capital Projects Corporate Recreation Total capital projects
$ 1,077,000 333,000 1,410,000
NONMAJOR GOVERNMENTAL Bond and interest ARS IMRF FICA Total nonmajor governmental
$
-
668,206 46,422 50,475 765,103
-
2,175,103
2,254,425
176,219
96,897 -
$ 2,351,322
$ 2,351,322
Transfers In
Transfers Out
Total governmental MAJOR BUSINESS-TYPE Chevy Chase Country Club Nonmajor Governmental Corporate TOTAL
Transfers Out
GOVERNMENT-WIDE Governmental activities Business-type activities
$
79,322
$
79,322 -
TOTAL
$
79,322
$
79,322
The purpose of significant transfers is as follows: •
$1,410,000 transferred to the Capital Projects Fund from the Corporate Fund and Recreation Fund to fund various capital projects. These transfers will not be repaid.
•
$96,897 transferred from the Chevy Chase Country Club Fund to the IMRF Fund and FICA Fund to pay for its share of employee benefit expense. These transfers will not be repaid. 36 --- 32
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
8.
9.
INTERFUND TRANSFERS (Continued) •
$668,206 transferred to the Bond and Interest ARS Fund from the Recreation Fund and Corporate Fund to cover current year debt service payments. These transfers will not be repaid.
•
$176,219 transferred to the Chevy Chase Country Club Fund from the Corporate Fund to cover current year debt service payments. These transfers will not be repaid.
CONTINGENT LIABILITIES 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. 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 which may be disallowed by the grantor cannot be determined at this time although the District expects such amounts, if any, to be immaterial.
10.
DEFINED BENEFIT PENSION PLAN The District’s defined benefit pension plan for regular employees provides retirement and disability benefits, postretirement increases and death benefits to plan members and beneficiaries. The employer plan is affiliated with the IMRF, an agent multiple-employer plan. Benefit provisions are established by statute and may only be changed by the General Assembly of the State of Illinois. IMRF issues a publicly available financial report that includes financial statements and required supplementary information (RSI). That report may be obtained at www.imrf.org. Illinois Municipal Retirement Fund Plan Administration All employees hired in positions that meet or exceed the prescribed annual hourly standard must be enrolled in IMRF as participating members. The plan is accounted for on the economic resources measurement focus and the accrual basis of accounting. Employer and employee contributions are recognized when earned in the year that the contributions are required, benefits and refunds are recognized as an expense and liability when due and payable. 37 --- 33
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
10.
DEFINED BENEFIT PENSION PLAN (Continued) Illinois Municipal Retirement Fund (Continued) Plan Membership At December 31, 2019 (most recent data available), IMRF membership consisted of: Inactive employees or their beneficiaries currently receiving benefits Inactive employees entitled to but not yet receiving benefits Active employees
65 170 97
TOTAL
332
Benefits Provided All employees hired in positions that meet or exceed the prescribed annual hourly standard must be enrolled in IMRF as participating members. IMRF provides two tiers of pension benefits. Employees hired prior to January 1, 2011, are eligible for Tier 1 benefits. For Tier 1 employees, pension benefits vest after eight years of service. Participating members who retire at age 55 (reduced benefits) or after age 60 (full benefits) 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. 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. IMRF also provides death and disability benefits. These benefit provisions are established by state statute. Contributions Participating members are required to contribute 4.50% of their annual salary to IMRF. The District is required to contribute the remaining amounts necessary to fund IMRF as specified by statute. The employer contribution rate for the fiscal year ended December 31, 2020, was 7.63% of covered payroll.
38 --- 34
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
10.
DEFINED BENEFIT PENSION PLAN (Continued) Illinois Municipal Retirement Fund (Continued) Actuarial Assumptions The District’s net pension liability (asset) was measured as of December 31, 2019, (most recent data available) and the total pension liability used to calculate the net pension liability (asset) was determined by an actuarial valuation performed as of the same date using the following actuarial methods and assumptions. Actuarial valuation date
December 31, 2019
Actuarial cost method
Entry-age normal
Asset valuation method
Fair value
Assumptions Price inflation
2.50%
Salary increases
3.35% to 14.25%
Investment rate of return
7.25%
Cost of living adjustments
3.00%
For nondisabled retirees, an IMRF specific mortality table was used with fully generational projection scale MP-2017 (base year 2015). The IMRF specific rates were developed from the RP-2014 Blue Collar Health Annuitant Mortality Table with adjustments to match current IMRF experience. For disabled retirees, an IMRF specific mortality table was used with fully generational projection scale MP-2017 (base year 2015). The IMRF specific rates were developed from the RP-2014 Disabled Retirees Mortality Table applying the same adjustments that were applied for nondisabled lives. For active members, an IMRF specific mortality table was used with fully generational projection scale MP-2017 (base year 2015). The IMRF specific rates were developed from the RP-2014 Employee Mortality Table with adjustments to match current IMRF experience. Discount Rate The discount rate used to measure the total pension liability was 7.25%. The projection of cash flows used to determine the discount rate assumed that member contributions will be made at the current contribution rate and that the District contributions will be made at rates equal to the difference between actuarially determined contribution rates and the member rate. Based on those assumptions, the IMRF’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. 39 --- 35
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
10.
DEFINED BENEFIT PENSION PLAN (Continued) Illinois Municipal Retirement Fund (Continued) Changes in the Net Pension Liability
BALANCES AT JANUARY 1, 2019
(a) Total Pension Liability
(b) Plan Fiduciary Net Position
$ 18,186,386
$ 16,424,005
416,963 1,305,778
-
416,963 1,305,778
374,484 (768,277) -
315,622 215,524 2,950,130 (768,277) (3,797)
374,484 (315,622) (215,524) (2,950,130) 3,797
1,328,948
2,709,202
(1,380,254)
$ 19,515,334
$ 19,133,207
Changes for the period Service cost Interest Difference between expected and actual experience Changes in assumptions Employer contributions Employee contributions Net investment income Benefit payments and refunds Other (net transfer) Net changes BALANCES AT DECEMBER 31, 2019
40 --- 36
(a) - (b) Net Pension Liability
$
$
1,762,381
382,127
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
10.
DEFINED BENEFIT PENSION PLAN (Continued) Illinois Municipal Retirement Fund (Continued) Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources For the year ended December 31, 2020, the District recognized pension expense of $284,902. At December 31, 2020, the District reported deferred outflows of resources and deferred inflows of resources related to IMRF from the following sources: Deferred Outflows of Resources Differences between expected and actual experience Assumption changes Net difference between projected and actual earnings on pension plan investments Employer contributions after the measurement date
$
TOTAL
$
Deferred Inflows of Resources
247,230 $ 167,987
164,388 -
308,905
698,566 -
724,122 $
862,954
$308,905 reported as deferred outflows of resources related to pensions resulting from district contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the reporting year ending December 31, 2021. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows: Year Ending December 31, 2021 2022 2023 2024 Thereafter
$
(72,733) (101,561) 80,180 (353,623) -
TOTAL
$
(447,737)
41 --- 37
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
10.
DEFINED BENEFIT PENSION PLAN (Continued) Illinois Municipal Retirement Fund (Continued) Discount Rate Sensitivity The following is a sensitivity analysis of the net pension liability (asset) to changes in the discount rate. The table below presents the net pension liability (asset) of the District calculated using the discount rate of 7.25% as well as what the District’s net pension liability (asset) would be if it were calculated using a discount rate that is 1 percentage point lower (6.25%) or 1 percentage point higher (8.25%) than the current rate:
1% Decrease (6.25%) Net pension liability (asset) 11.
$
2,906,197
Current Discount Rate (7.25%) $
382,127
1% Increase (8.25%) $
(1,678,246)
OTHER POSTEMPLOYMENT BENEFITS a.
Plan Description In addition to providing the pension benefits described, the District provides other postemployment health care benefits (OPEB) for retired employees through a singleemployer defined benefit plan. The benefits, benefit levels, employee contributions and employer contributions are governed by the District and can be amended by the District through its personnel manual. No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement No. 75. The plan does not issue a separate report. The activity of the plan is reported in the District’s governmental and business-type activities.
b.
Benefits Provided The District provides continued health insurance coverage at the active employer rate to all eligible employees in accordance with ILCS, which creates an implicit subsidy of retiree health insurance. To be eligible for benefits, an employee must qualify for retirement under the District’s retirement plan. Upon a retiree reaching age 65 years of age, Medicare becomes the primary insurer and the retiree is no longer eligible to participate in the plan, but can purchase a Medicare supplement plan from the District’s insurance provider.
42 --- 38
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
11.
OTHER POSTEMPLOYMENT BENEFITS (Continued) c.
Membership At September 30, 2020, (the latest information available), membership consisted of:
d.
Inactive fund members or beneficiaries currently receiving benefits payments Inactive fund members entitled to but not yet receiving benefit payments Active fund members
52
TOTAL
53
1
Actuarial Assumptions and Other Inputs The total OPEB liability was determined by an actuarial valuation performed as of September 30, 2020 using the following actuarial methods and assumptions. Actuarial valuation date
September 30, 2020
Actuarial cost method
Entry-age normal
Inflation
2.50%
Discount rate
2.21%
Healthcare cost trend rates
7.00% graded to 4.50% over 17 years (Medical) and 8.00% graded to 4.50% over 18 years (Prescription)
Asset valuation method
N/A
Mortality rates
HeadcountWeighted RP - 2014 rates projected generationally from 2015 using Scale MP-2017
43 --- 39
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
11.
OTHER POSTEMPLOYMENT BENEFITS (Continued) e.
Discount Rate The discount rate was based on the General Obligation Municipal Bond Rate as of September 30, 2020.
f.
Changes in the Total OPEB Liability Total OPEB Liability BALANCES AT JANUARY 1, 2020
$
Changes for the period Service cost Interest Differences between expected and actual experience Changes in assumptions Implicit benefit payments
224,086
19,719 6,368 (21,785) (10,453) (8,836)
Net changes
(14,987)
BALANCES AT DECEMBER 31, 2020
$
209,099
In 2020, the discount rate used was decreased from 2.66% to 2.21%, valuation-year per capita health costs and retiree contributions rates were updated, trend rates on per capita health costs and contribution rates were modified and the excise tax was removed. g.
Rate Sensitivity The following is a sensitive analysis of total OPEB liability to changes in the discount rate and the healthcare cost trend rate. The table below presents the total OPEB liability of the District calculated using the discount rate of 2.21% as well as what the District’s total OPEB liability would be if it were calculated using a discount rate that is 1 percentage point lower (1.21%) or 1 percentage point higher (3.21%) than the current rate: Current Discount Rate (2.21%)
1% Decrease (1.21%) Total OPEB liability
$
218,449 44 --- 40
$
209,099
1% Increase (3.21%) $
198,676
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)
11.
OTHER POSTEMPLOYMENT BENEFITS (Continued) g.
Rate Sensitivity (Continued) The table below presents the total OPEB liability of the District calculated using the healthcare rate of 7% to 8% as well as what the District’s total OPEB liability would be if it were calculated using a healthcare rate that is 1 percentage point lower (6% to 7%) or 1 percentage point higher (8% to 9%) than the current rate: 1% Decrease (6% to 7%) Total OPEB liability
h.
$
190,293
Current Healthcare Rate (7% to 8%) $
1% Increase (8% to 9%)
209,099 $
230,601
OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB For the year ended December 31, 2020, the District recognized OPEB expense of $17,094. At December 31, 2020, the District reported deferred inflows of resources related to OPEB from the following sources: Deferred Outflows of Resources
Deferred Inflows of Resources
Differences between expected and actual experience Assumption changes
$
17,966 10,677
$
19,855 14,275
TOTAL
$
28,643
$
34,130
Amounts reported as deferred inflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows: Fiscal Year Ending December 31, 2021 2022 2023 2024 2025 Thereafter
$
(247) (247) (247) (247) (247) (4,252)
TOTAL
$
(5,487)
45 --- 41
REQUIRED SUPPLEMENTARY INFORMATION
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL CORPORATE FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget REVENUES Taxes Charges for services Intergovernmental Investment income Donations Miscellaneous
$
Total revenues EXPENDITURES Current General government Administrative operations Culture and recreation Capital outlay
3,046,210 48,138 145,000 186,750 16,447 128,755
Actual
$
3,088,489 7,194 401,774 55,966 3,612 146,100
3,571,300
3,703,135
$
3,013,112 176,526 7,480
2,739,193 160,477 6,800
2,053,790 23,103 6,412
$
3,197,118
2,906,470
2,083,305
EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES
664,830
1,619,830
OTHER FINANCING SOURCES (USES) Transfers (out) Chevy Chase Country Club Fund Bond and Interest ARS Fund Capital Projects Fund
(176,219) (359,992) (123,000)
(176,219) (355,897) (1,076,999)
(659,211)
(1,609,115)
Total expenditures
Total other financing sources (uses)
$
(725,132)
NET CHANGE IN FUND BALANCE
$
5,619
10,715
FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31
(See independent auditor's report.) - 46 -
994,346 $
1,005,061
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL RECREATION FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget REVENUES Taxes Charges for services Fees and admissions Rentals Concession sales Recreation program fees Investment income Miscellaneous
$
2,529,314
Actual
$
2,509,002
1,196,991 439,605 305,312 1,465,793 29,250 40,500
339,379 253,724 102,115 391,594 9,149 21,680
6,006,765
3,626,643
4,015,941 1,174,355
3,650,854 1,067,596
2,246,003 390,313
187,000 147,673 43,780
170,000 134,248 39,800
170,000 134,248 24,181
5,568,749
5,062,498
2,964,745
EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES
944,267
661,898
OTHER FINANCING SOURCES (USES) Transfers (out) Bond and Interest ARS Fund Capital Projects Fund
(312,310) (611,000)
(312,310) (333,000)
(923,310)
(645,310)
20,957
16,588
Total revenues EXPENDITURES Culture and recreation Administration Programs Debt service Principal retirement Interest and fiscal charges Capital outlay
$
Total expenditures
$
Total other financing sources (uses)
$ (1,015,641)
NET CHANGE IN FUND BALANCE
$
FUND BALANCE, JANUARY 1
1,304,058
FUND BALANCE, DECEMBER 31
(See independent auditor's report.) - 47 -
$
1,320,646
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF EMPLOYER CONTRIBUTIONS ILLINOIS MUNICIPAL RETIREMENT FUND Last Six Fiscal Years
FISCAL YEAR ENDED DECEMBER 31, Actuarially determined contribution
2015 $
Contributions in relation to the actuarially determined contribution
2016
389,468
389,468
CONTRIBUTION DEFICIENCY (Excess)
$
Covered payroll
$ 3,822,067
Contributions as a percentage of covered payroll
$
-
10.19%
2017
359,117
$
359,117 $
-
$ 3,690,822
9.73%
2018
408,593
$
408,593 $
-
$ 4,148,152
9.85%
2019
386,561
$
386,561 $
-
$ 4,362,996
8.86%
2020
315,623
$
315,623 $
-
$ 4,788,346
6.59%
308,863
308,863 $
-
$ 4,049,789
7.63%
Notes to Required Supplementary Information The information presented was determined as part of the actuarial valuation as of January 1 the prior fiscal year. Additional information as of the latest actuarial valuation presented is as follows: the actuarial cost method was aggregate entry-age normal; the amortization method was level percentage of payroll, closed; the amortization period was 24 years, closed, until the remaining period reaches ten years, then ten-year rolling period; the asset valuation method was five-year smoothed market with a 20% corridor and the significant actuarial assumptions were an investment rate of return at 7.50% annually; projected salary increases of 3.35% to 14.25% compounded annually, including inflation. Ultimately, this schedule should present information for the last ten years. However, until ten years of information can be compiled, information will be presented for as many years as is available.
(See independent auditor's report.) - 48 -
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF CHANGES IN THE EMPLOYER'S NET PENSION LIABILITY (ASSET) AND RELATED RATIOS ILLINOIS MUNICIPAL RETIREMENT FUND Last Six Fiscal Years
MEASUREMENT DATE DECEMBER 31, TOTAL PENSION LIABILITY Service cost Interest Changes of benefit terms Differences between expected and actual experience Changes of assumptions Benefit payments, including refunds of member contributions
2014
2015
2016
393,128 $ 1,006,355 (24,874) 417,626 (517,369)
365,249 $ 1,098,725 406,427 20,708 (576,016)
411,895 1,194,846 (439,471) (21,150) (647,089)
1,274,866
1,315,093
499,031
13,480,183
14,755,049
16,070,142
$ 14,755,049
$ 16,070,142
$ 16,569,173
$
Net change in total pension liability Total pension liability - beginning TOTAL PENSION LIABILITY - ENDING PLAN FIDUCIARY NET POSITION Contributions - employer Contributions - member Net investment income Benefit payments, including refunds of member contributions Other
$
Net change in plan fiduciary net position
345,723 $ 189,587 823,731 (517,369) 29,927 871,599
Plan fiduciary net position - beginning
389,468 $ 171,993 71,796 (576,016) (196,648) (139,407)
359,117 170,857 974,425 (647,089) 41,190 898,500
13,494,815
14,366,414
14,227,007
PLAN FIDUCIARY NET POSITION - ENDING
$ 14,366,414
$ 14,227,007
$ 15,125,507
EMPLOYER'S NET PENSION LIABILITY (ASSET)
$
$
$
Plan fiduciary net position as a percentage of the total pension liability
388,635
97.37%
Covered payroll
$
Employer's net pension liability (asset) as a percentage of covered payroll
3,266,275
11.90%
1,843,135
88.53% $
3,822,067
48.22%
1,443,666
91.29% $
3,822,067
37.77%
The wage growth assumption rate was changed from 4.00% to 3.50% in 2016. The price inflation assumption rate was changed from 3.00% to 2.75%. Salary increases assumption rate range was changed from 4.40% to 16.00% in 2015 to 3.75% to 14.50% in 2016. Retirement age assumption was changed from a 2011 valuation to a 2014 valuation. The mortality assumption changed from RP-2000 Combined Health Mortality Table to RP-2014 Blue Collar Health Annuitant Mortality Table in 2016. The discount rate changed from 7.50% to 7.25% in 2018. Ultimately, this schedule should present information for the last ten years. However, until ten years of information can be compiled, information will be presented for as many years as is available.
- 49 -
2017
2018
2019
384,837 $ 1,233,844 109,538 (527,777) (620,686)
394,844 $ 1,276,768 (521,290) 532,699 (645,564)
416,963 1,305,778 374,484 (768,277)
579,756
1,037,457
1,328,948
16,569,173
17,148,929
18,186,386
$ 17,148,929
$ 18,186,386
$ 19,515,334
$
$
408,592 $ 195,156 2,635,021 (620,686) (195,298)
386,562 $ 196,335 (862,704) (645,564) (198,916)
315,622 215,524 2,950,130 (768,277) (3,797)
2,422,785
(1,124,287)
2,709,202
15,125,507
17,548,292
16,424,005
$ 17,548,292
$ 16,424,005
$ 19,133,207
$
(399,363) $
102.33% $
4,148,145
(9.63%)
1,762,381
$
90.31% $
4,362,996
40.39%
382,127
98.04% $
4,789,415
7.98%
(See independent auditor's report.) - 50 -
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF CHANGES IN THE EMPLOYER'S TOTAL OPEB LIABILITY AND RELATED RATIOS OTHER POSTRETIREMENT BENEFIT PLAN Last Three Fiscal Years
MEASUREMENT DATE DECEMBER 31, TOTAL OPEB LIABILITY Service cost Interest Differences between expected and actual experience Changes in assumptions Implicit benefit payments
2018
$
Net change in total OPEB liability Total OPEB liability - beginning
2019
2020
15,546 $ 6,272 (6,596) (3,366)
14,629 $ 7,655 22,012 13,081 (3,601)
19,719 6,368 (21,785) (10,453) (8,836)
11,856
53,776
(14,987)
158,454
170,310
224,086
TOTAL OPEB LIABILITY - ENDING
$
170,310
$
224,086
$
209,099
Covered payroll
$
3,699,570
$
4,371,123
$
4,291,153
Employer's total OPEB liability as a percentage of covered payroll
4.60%
5.13%
4.87%
In 2020, the discount rate used was decreased from 2.66% to 2.21%, valuation-year per capita health costs and retiree contributions rates were updated, trend rates on per capita health costs and contribution rates were modified and the excise tax was removed In 2018 and 2019, there were changes in assumptions related to the discount rate. Ultimately, this schedule should present information for the last ten years. However, until ten years of information can be compiled, information will be presented for as many years as is available.
(See independent auditor's report.) - 51 -
WHEELING PARK DISTRICT WHEELING, ILLINOIS NOTES TO REQUIRED SUPPLEMENTARY INFORMATION December 31, 2020
BUDGETS Budgets are adopted on a basis consistent with GAAP. Annual appropriated budgets are adopted for the General, Special Revenue, Debt Service, Capital Projects and Enterprise Funds. The budget is prepared by fund, function and activity and includes information on the past year, current year estimates and requested appropriations for the next fiscal year. The proposed budget is presented to the governing body for review. The governing body holds public hearings and may add to, subtract from or change appropriations but may not change the form of the budget. The budget may be amended by the governing body. The original and final operating budget is presented in these financial statements. There were no budget amendments during the current fiscal year. Expenditures may not legally exceed budgeted appropriations at the fund level. The following funds had expenditures greater than the appropriation for the year ended December 31, 2020: Actual Expenditures
Fund Paving and Lighting Fund Bond and Interest Fund Capital Projects Fund
$
- 52 -
Appropriation
49,007 $ 1,689,901 1,450,646
33,000 1,539,557 765,600
COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES
MAJOR GOVERNMENTAL FUNDS
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF REVENUES - BUDGET AND ACTUAL CORPORATE FUND For the Year Ended December 31, 2020
TAXES Property taxes - current - Cook County Property taxes - current - Lake County Property taxes - prior Total taxes
Original and Final Budget
Actual
$ 2,825,037 221,173 -
$ 2,925,551 192,537 (29,599)
3,046,210
3,088,489
CHARGES FOR SERVICES Recreation program fees Special events
48,138
7,194
INTERGOVERNMENTAL TIF surplus distribution Replacement taxes
50,000 95,000
310,784 90,990
Total intergovernmental
145,000
401,774
186,750
55,966
DONATIONS
16,447
3,612
MISCELLANEOUS Memorials Shared services Sponsorships Other
600 40,900 35,000 52,255
31,842 14,033 100,225
128,755
146,100
$ 3,571,300
$ 3,703,135
INVESTMENT INCOME
Total miscellaneous TOTAL REVENUES
(See independent auditor's report.) - 53 -
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF EXPENDITURES BUDGET AND ACTUAL CORPORATE FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget GENERAL GOVERNMENT Administrative operations Salaries and wages Executive director Administrative secretary Clerical - full-time Clerical - part-time Clerical - part-time - finance Clerical - part-time - human resources Accounting personnel Technology staff Human resources/risk manager Deputy Director Intern Planning and development Community relations PT promotion Maintenance labor - full-time Maintenance labor - part-time Total salaries and wages
$
$
1,607,276
Supplies and commodities Office equipment/furniture Office supplies Data processing supplies Promotion supplies Community relations Wearing apparel Staff recognition Janitorial supplies Memorial supplies Blueprints/presentation supplies Landscape materials Small tools/equipment Shop materials Gasoline, oil and anti-freeze Parts/fittings - motor vehicles Parts/fittings - machinery/equipment Parts/fittings - outdoor property Publications, periodicals and books Total supplies and commodities
370,558
(This schedule is continued on the following pages.) - 54 -
65,786 19,826 57,108 2,372 13,907 5,316 25,498 25,289 101,654 70,255 5,000 108,874 129,512 11,816 772,908 46,039
Actual
$
65,784 20,076 24,331 1,141 2,551 309 37,549 25,390 82,851 71,136 57,037 67,187 2,265 687,140 15,651
1,461,160
1,160,398
1,000 15,000 28,912 8,400 28,374 15,395 15,640 5,470 500 500 72,625 15,450 14,250 40,000 35,000 7,500 26,300 6,555
25,948 4,100 17,900 1,267 9,507 8,431 13,704 12,121 290 43,595 19,437 12,111 32,994 47,233 5,099 33,619 1,226
336,871
288,582
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF EXPENDITURES BUDGET AND ACTUAL (Continued) CORPORATE FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget GENERAL GOVERNMENT (Continued) Administrative operations (Continued) Contractual services Legal services Professional services Refuse disposal Equipment service agreements Postage Printing/typesetting Mileage reimbursement Advertising/display Advertising - classified Communications equipment rental Bank service charges Data processing Lease of equipment Contractual services - other Total contractual services Maintenance and repairs Office equipment
$
$
395,935
359,941
550
500
Benefits Employee health insurance Total benefits
208,848
-
337,269
282,786
53,878 7,516 12,850 16,924
33,691 10,473 8,607 13,482
91,168
66,253
37,800 39,328 20,156 40,000 15,000
14,714 11,149 13,841 7,179 40
167,512
152,284
46,923
3,013,112
2,739,193
2,053,790
100,285
Other Continuing education Miscellaneous Dues/membership Scholarships Provisions for contingency
Total administrative operations
17,855 45,239 10,709 2,527 2,971 5,399 1,790 1,469 15,109 505 27,666 19,218 58,391
282,786
Utilities Electricity Gas - heating Water/sewer Telephone
Total other
$
337,269 370,996
Total utilities
48,000 93,430 12,000 1,956 4,676 44,936 300 19,935 4,000 19,506 144 27,146 16,512 67,400
Actual
(This schedule is continued on the following page.) - 55 -
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF EXPENDITURES BUDGET AND ACTUAL (Continued) CORPORATE FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget CULTURE AND RECREATION Programs Instructor salaries Special events
$
Contractual/general Special events Program supplies Special events Total programs
8,795
$
544
112,177
14,915
44,336
40,305
7,644
176,526
160,477
23,103
7,480
6,800
6,412
7,480
6,800
6,412
Total capital outlay $
7,995
123,395
CAPITAL OUTLAY Technology: software/hardware
TOTAL EXPENDITURES
$
Actual
3,197,118
(See independent auditor's report.) - 56 -
$
2,906,470
$
2,083,305
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF REVENUES - BUDGET AND ACTUAL RECREATION FUND For the Year Ended December 31, 2020
Original and Final Budget TAXES Property taxes - current - Cook County Property taxes - current - Lake County Property taxes - prior Total taxes
$
2,345,670 183,644 -
Actual
$
2,381,100 154,701 (26,799)
2,529,314
2,509,002
CHARGES FOR SERVICES Fees and admissions Fitness center Daily pool admissions Pool passes Day groups Open gym
532,699 266,266 198,571 179,868 19,587
264,484 22,378 43,216 5,004 4,297
Total fees and admissions
1,196,991
339,379
9,200 331,374 35,000 47,495 16,536
6,901 203,504 33,844 9,475 -
439,605
253,724
207,700 97,612 -
102,097 18
305,312
102,115
Rentals Pool rent Locker rent Park/field rental Gym rental Room rental Pool party packages Total rentals Concession sales Sports complex Aquatics Fitness Total concession sales
(This schedule is continued on the following page.) - 57 -
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF REVENUES - BUDGET AND ACTUAL (Continued) RECREATION FUND For the Year Ended December 31, 2020
Original and Final Budget CHARGES FOR SERVICES (Continued) Recreation program fees Athletics Youth development Fitness/wellness Aquatics Adults
$
435,850 803,820 88,604 119,819 17,700
Actual
$
113,045 206,178 45,343 22,770 4,258
Total recreation program fees
1,465,793
391,594
Total charges for services
3,407,701
1,086,812
INVESTMENT INCOME
29,250
9,149
MISCELLANEOUS Vending Other
18,000 22,500
6,695 14,985
40,500
21,680
Total miscellaneous $
TOTAL REVENUES
(See independent auditor's report.) - 58 -
6,006,765
$
3,626,643
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF EXPENDITURES BUDGET AND ACTUAL RECREATION FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget CULTURE AND RECREATION Administration Salaries and wages Executive director Clerical - full-time Clerical - part-time Accounting personnel Technology staff Human resources/risk manager Maintenance labor - full-time Maintenance labor - part-time Deputy Director Recreation supervisors Promotion/marketing - full-time Promotion/marketing - part-time Custodian - part-time Building supervisor Facility supervisor - other Fitness specialist Pool managers Guards Guest services Cashiers Attendant Pool rental personnel Intern Party personnel Total salaries and wages
$
$
2,347,131
65,786 62,606 123,799 25,498 25,289 69,102 543,319 78,947 70,255 392,701 83,286 23,693 6,489 32,343 52,117 13,195 43,494 221,481 9,670 122,925 54,850 7,440 3,840 1,630
Actual
$
65,754 51,521 32,289 25,600 25,390 57,604 510,594 21,458 71,136 308,032 51,622 13,243 12,996 18,190 4,028 4,516 28,711 3,113 74,518 10,417 -
2,133,755
1,390,732
18,300 15,650 38,417 29,426 17,730 21,810 500 1,500
5,289 12,088 26,307 99 28,279 4,668 1,596 119 -
Supplies and commodities Office supplies Office equipment/furniture Operations equipment supplies Publications, periodicals, books Janitorial supplies Promotion supplies Wearing apparel Gasoline, oil and anti-freeze Parts/fittings - motor vehicles
(This schedule is continued on the following pages.) - 59 -
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF EXPENDITURES BUDGET AND ACTUAL (Continued) RECREATION FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget CULTURE AND RECREATION (Continued) Administration (Continued) Supplies and commodities (Continued) Parts/fittings - machinery equipment Parts/fittings - outdoor property Small tools and equipment Landscape materials Concession supplies Party supplies Pool supplies Camp rental supplies Staff reward supplies Soft drink Concession stand food Pool chemicals/paint Vending machine supplies Total supplies and commodities
$
$
452,194
Maintenance and repairs Office equipment
$
24,886 11,221 151 477 33,967 (4) 744 5,367 2,677
411,085
157,931
7,896 2,000 11,073 8,612 69,496 360 7,400 32,786 9,660 46,690 39,622 19,784 70,260 4,382
4,777 1,836 6,029 1,212 22,812 4,483 7,810 6,988 29,379 39,576 24,747 44,293 5,660
363,023
330,021
199,602
51,607
46,915
10,080
Contractual services Refuse disposal Pest control service Equipment service agreements Postage Printing/typesetting Mileage reimbursement Advertising/classified Advertising/display Communications equipment Bank service charges Data processing Leased equipment Other contractual services Cable TV Total contractual services
41,800 24,645 4,825 18,800 73,182 2,600 16,750 750 1,850 5,800 27,000 44,350 5,400
Actual
(This schedule is continued on the following pages.) - 60 -
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF EXPENDITURES BUDGET AND ACTUAL (Continued) RECREATION FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget CULTURE AND RECREATION (Continued) Administration (Continued) Benefits Employee health insurance Total benefits
$ $
291,660
320,826
224,562 73,259 61,034 34,944
112,624 50,614 38,474 30,855
393,799
232,567
22,319 4,355 3,370 5,575 8,000
10,024 2,703 1,609 4,030 -
47,981
43,619
18,366
4,015,941
3,650,854
2,246,003
182,079 383,495 53,589 47,873 9,304
67,087 169,878 32,090 22,050 3,228
676,340
294,333
91,812 65,549 105,325 3,616
21,753 5,508 36,221 1
266,302
63,483
Other Continuing education Dues/memberships Licenses/permits Miscellaneous Provision for contingency
Total administration Programs Instructor salaries Athletics Youth development Fitness/wellness Aquatics Adults Total instructor salaries
743,974
Contractual/general Athletics Youth development Fitness/wellness Adults Total contractual/general
236,725 236,725
433,179
Total other
$
291,660
Utilities Electricity Gas - heating Water/sewer Telephone Total utilities
Actual
292,932
(This schedule is continued on the following page.) - 61 -
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF EXPENDITURES BUDGET AND ACTUAL (Continued) RECREATION FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget CULTURE AND RECREATION (Continued) Programs (Continued) Program supplies Athletics Youth development Fitness/wellness Aquatics Adults Total program supplies
$
$
74,889 40,010 1,850 3,020 5,185
Actual
$
18,599 12,742 269 465 422
137,449
124,954
32,497
Total programs
1,174,355
1,067,596
390,313
Total culture and recreation
5,190,296
4,718,450
2,636,316
187,000 147,673
170,000 134,248
170,000 134,248
334,673
304,248
304,248
5,300 21,500 13,000
4,990 13,205 5,986
39,800
24,181
DEBT SERVICE Principal retirement Interest and fiscal charges Total debt service CAPITAL OUTLAY Machinery and tools Building improvements Recreation equipment Total capital outlay TOTAL EXPENDITURES
43,780 $
5,568,749
(See independent auditor's report.) - 62 -
$
5,062,498
$
2,964,745
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL BOND AND INTEREST FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget REVENUES Taxes Property taxes - current - Cook County Property taxes - current - Lake County Property taxes - prior Intergovernmental
$
1,308,370 102,433 -
Actual
$
1,327,375 85,442 (14,276) 59,413
Total revenues
1,410,803
1,457,954
EXPENDITURES Debt service Principal retirement Bonds Interest and fiscal charges Bond interest Bond issuance costs
1,375,000
1,375,000
24,597 -
187,876 127,025
1,399,597
1,689,901
Total expenditures
$
1,539,557
EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES
11,206
OTHER FINANCING SOURCES (USES) Bonds issued, at par Bond premium Payment to escrow agent
-
Total other financing sources (uses) NET CHANGE IN FUND BALANCE
$
(231,947)
5,205,000 815,666 (5,179,250)
-
841,416
11,206
609,469
FUND BALANCE, JANUARY 1
93,119
FUND BALANCE, DECEMBER 31
(See independent auditor's report.) - 63 -
$
702,588
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL CAPITAL PROJECTS FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget REVENUES Donations Intergovernmental
$
Total revenues
440,121 1,085,174
Actual
$
1,525,295
EXPENDITURES Current General government Capital outlay Land improvements Building improvements
440,123 1,085,174 1,525,297
20,000
-
526,000 150,000
43,041 1,407,605
696,000
1,450,646
EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES
829,295
74,651
OTHER FINANCING SOURCES (USES) Transfers in Corporate Fund Recreation Fund
123,000 611,000
1,077,000 333,000
734,000
1,410,000
1,563,295
1,484,651
Total expenditures
$
765,600
Total other financing sources (uses) NET CHANGE IN FUND BALANCE
$
FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31
(See independent auditor's report.) - 64 -
4,160,346 $
5,644,997
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL BOND PROJECT FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget REVENUES None
$
EXPENDITURES Current General government Capital outlay Office equipment/furniture Technology software/hardware Vehicles Machinery/implements/major tools Land improvements Building improvements Total expenditures
$
945,178
EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FINANCING SOURCES (USES) Bonds issued, at par Total other financing sources (uses) NET CHANGE IN FUND BALANCE
$
-
Actual
$
12,500
10,500
166,500 40,000 40,000 70,800 379,463 149,990
2,804 16,375 17,350 143,085 -
859,253
190,114
(859,253)
(190,114)
1,375,000
1,418,000
1,375,000
1,418,000
515,747
1,227,886
FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31
(See independent auditor's report.) - 65 -
-
1,588,399 $
2,816,285
NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS Special revenue funds are established to account for the proceeds of specific revenue sources (other than special assessments or for major capital projects) that are legally restricted or committed to expenditure for specified purposes. Tort Immunity Fund - This fund accounts for the costs of insurance, risk management, staff safety related training and loss prevention and reduction services. Financing is provided by a specific restricted annual property tax levy. Audit Fund - This fund covers the expense of the annual audit of the District’s financial statements as required by law. Financing is provided by a specific restricted annual property tax levy. IMRF Fund - This fund accounts for the activities resulting from the District’s participation in the Illinois Municipal Retirement Fund. Financing is provided by a specific restricted annual property tax levy, which produces a sufficient amount to pay the District’s contributions to IMRF on behalf of the District’s employees. FICA Fund - This fund accounts for the District’s obligation for Social Security and Medicare taxes. Financing is provided by a specific restricted annual property tax levy, which produces a sufficient amount to pay the District’s contribution. Museum Fund - This fund covers the expenses to maintain the Museum and Church at Chamber Park. Financing is provided by a specific restricted annual property tax levy. Special Populations Fund - This fund primarily pays for the District’s membership in the NWSRA, other programs that target specific populations and facilities that also target specific populations. Financing is provided by a specific restricted annual property tax levy. Police Fund - This fund covers the District’s expense for its own park security force. Financing is provided by a specific restricted annual property tax levy. Paving and Lighting Fund - This fund contains the expenses for constructing, maintaining and lighting roadways within the District’s parks and facilities. Financing is provided by a specific restricted annual property tax levy.
NONMAJOR GOVERNMENTAL FUNDS (Continued) DEBT SERVICE FUNDS Debt service funds are established to account for restricted, committed or assigned resources required for the payment of principal and interest. Bond and Interest ARS Fund - This fund covers the debt service for the Series 2010 Taxable General Obligation Bonds (Alternative Revenue Source).
WHEELING PARK DISTRICT WHEELING, ILLINOIS COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS December 31, 2020
Special Revenue Tort Immunity
Audit
IMRF
FICA
ASSETS Cash and investments Receivables (net, where applicable, of allowances for uncollectibles) Property taxes Prepaid items TOTAL ASSETS
$
133,044
$
432,572 629
9,072
$
56,524 -
159,207
$
207,614 -
$
566,245
$
65,596
$
$
420 1,842
$
883
$
366,821
281,379
219,127 $
500,506
LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES LIABILITIES Accounts payable Accrued payroll Total liabilities DEFERRED INFLOWS OF RESOURCES Unavailable property taxes Total liabilities and deferred inflows of resources
-
$
-
-
2,262
883
-
432,669
56,535
207,681
219,218
434,931
57,418
207,681
219,218
FUND BALANCES Nonspendable - prepaid items Restricted Employee retirement Audit Public safety Museum Special populations Capital projects Liability insurance
130,685
8,178 -
159,140 -
281,288 -
Total fund balances
131,314
8,178
159,140
281,288
TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES
629
$
- 66 -
566,245
-
$
65,596
-
$
366,821
-
$
500,506
Debt Service Bond and Interest ARS
Special Revenue Special Populations
Museum
$
25,427
$
49,600 -
Police
$
480,546 -
$
75,027
$
$
837 1,259
$
2,096
997,679
-
45,195
$
6,916 -
8,351
$
31,149 -
-
Total Nonmajor Governmental Funds
$
-
1,178,808
1,484,048 629
$
52,111
$
39,500
$
-
$
2,663,485
$
636
$
-
$
-
$
1,257 4,620
-
636
-
-
5,877
49,613
480,635
6,923
31,153
-
1,484,427
51,709
480,635
7,559
31,153
-
1,490,304
-
-
-
629
-
$
517,133
Paving and Lighting
-
23,318 -
517,044 -
44,552 -
8,347 -
-
440,428 8,178 44,552 23,318 517,044 8,347 130,685
23,318
517,044
44,552
8,347
-
1,173,181
75,027
$
997,679
$
52,111
$
39,500
$
-
$
(See independent auditor's report.) - 67 -
2,663,485
WHEELING PARK DISTRICT WHEELING, ILLINOIS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS For the Year Ended December 31, 2020
Special Revenue Tort Immunity REVENUES Taxes Intergovernmental Miscellaneous
$
Total revenues EXPENDITURES General government Culture and recreation Capital outlay Debt service Principal retirement Interest and fiscal charges
446,071 7,022
Audit
$
50,600 -
$
FICA
371,787 -
$
429,399 -
453,093
50,600
371,787
429,399
401,441 12,239
51,962 -
95,133 213,730 -
92,890 244,007 -
-
Total expenditures
IMRF
-
-
-
413,680
51,962
308,863
336,897
EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES
39,413
(1,362)
62,924
92,502
OTHER FINANCING SOURCES (USES) Payment to escrow agent Transfers in
-
-
46,422
50,475
-
-
46,422
50,475
NET CHANGE IN FUND BALANCES
39,413
(1,362)
109,346
142,977
FUND BALANCES, JANUARY 1
91,901
9,540
49,794
138,311
Total other financing sources (uses)
FUND BALANCES, DECEMBER 31
$
131,314
- 68 -
$
8,178
$
159,140
$
281,288
Debt Service Bond and Interest ARS
Special Revenue Special Populations
Museum
$
62,950 -
$
Police
$
40,552 -
$
6,556 -
$
59,287 -
Total Nonmajor Governmental Funds
$
1,812,710 59,287 7,022
62,950
404,795
40,552
6,556
59,287
52,613 -
242,143 -
20,210 -
49,007 -
-
-
-
196,743
196,743 1,672,118
-
$
404,795 -
Paving and Lighting
-
1,879,019
661,636 801,500 12,239
52,613
242,143
20,210
49,007
196,743
10,337
162,652
20,342
(42,451)
(137,456)
206,901
-
-
-
-
(530,750) 668,206
(530,750) 765,103
-
-
-
-
137,456
234,353
10,337
162,652
20,342
(42,451)
-
441,254
12,981
354,392
24,210
50,798
-
731,927
23,318
$
517,044
$
44,552
$
8,347
$
(See independent auditor's report.) - 69 -
-
$
1,173,181
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL TORT IMMUNITY FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget REVENUES Taxes Property taxes - current - Cook County Property taxes - current - Lake County Property taxes - prior Miscellaneous
$
416,658 32,620 2,560
Actual
$
422,950 27,481 (4,360) 7,022
Total revenues
451,838
453,093
EXPENDITURES General government Salaries and wages Risk manager
56,919
54,859
56,919
54,859
4,300 15,620
30 30,810
19,920
30,840
15,001 660 24,284
1,226 660 26,173
39,945
28,059
10,894
10,052
10,894
10,052
269,257 4,539 22,127 395 3,000 -
270,014 780 6,412 425 -
Total salaries and wages
$
62,611
Supplies and commodities Publications, periodicals and books Parts/fittings Safety supplies Total supplies and commodities
21,912
Contractual services Professional services Communications equipment Fire/safety system Total contractual services
43,940
Benefits Employee health insurance Total benefits
11,983
Other PDRMA insurance Continuing education Pre-employment Dues/memberships Contingency Miscellaneous Total other
329,250
299,318
277,631
Total general government
469,696
426,996
401,441
17,710
16,100
12,239
487,406
443,096
413,680
8,742
39,413
Capital outlay Building improvements Total expenditures
$
NET CHANGE IN FUND BALANCE
$
FUND BALANCE, JANUARY 1
91,901 $
FUND BALANCE, DECEMBER 31
(See independent auditor's report.) - 70 -
131,314
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL AUDIT FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget REVENUES Taxes Property taxes - current - Cook County Property taxes - current - Lake County Property taxes - prior
$
Total revenues
$
Total expenditures
$
NET CHANGE IN FUND BALANCE
48,049 3,052 (501) 50,600
25,498
25,600
25,498
25,600
27,055 125
26,362 -
29,898
27,180
26,362
57,946
52,678
51,962
3,906
(1,362)
28,048
Contractual services Professional services Printing Total contractual services
$
56,584
EXPENDITURES General government Salaries and wages Accounting personnel Total salaries and wages
52,476 4,108 -
Actual
$
FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31
(See independent auditor's report.) - 71 -
9,540 $
8,178
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL IMRF FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget REVENUES Taxes Property taxes - current - Cook County Property taxes - current - Lake County Property taxes - prior
$
Total revenues
346,341 27,115 -
Actual
$
351,572 22,842 (2,627)
373,456
371,787
102,064
95,133
102,064
95,133
290,490
213,730
319,539
290,490
213,730
431,809
392,554
308,863
EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES
(19,098)
62,924
OTHER FINANCING SOURCES (USES) Transfers in Chevy Chase Country Club Fund
68,718
46,422
68,718
46,422
49,620
109,346
EXPENDITURES General government Benefits IMRF - employer's contribution Total general government
$
112,270
Culture and recreation Benefits IMRF - employer's contribution Total culture and recreation Total expenditures
$
Total other financing sources (uses) NET CHANGE IN FUND BALANCE
$
FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31
(See independent auditor's report.) - 72 -
49,794 $
159,140
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL FICA FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget REVENUES Taxes Property taxes - current - Cook County Property taxes - current - Lake County Property taxes - prior
$
Total revenues
400,915 31,388 -
Actual
$
406,970 26,442 (4,013)
432,303
429,399
105,877
92,890
105,877
92,890
423,509
244,007
465,860
423,509
244,007
582,325
529,386
336,897
EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES
(97,083)
92,502
OTHER FINANCING SOURCES (USES) Transfers in Chevy Chase Country Club Fund
92,158
50,475
92,158
50,475
(4,925)
142,977
EXPENDITURES General government Benefits FICA - employer's contribution Total general government
$
116,465
Culture and recreation Benefits FICA - employer's contribution Total culture and recreation Total expenditures
$
Total other financing sources (uses) NET CHANGE IN FUND BALANCE
$
FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31
(See independent auditor's report.) - 73 -
138,311 $
281,288
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL MUSEUM FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget REVENUES Taxes Property taxes - current - Cook County Property taxes - current - Lake County Property taxes - prior
$
Total revenues EXPENDITURES Culture and recreation
$
NET CHANGE IN FUND BALANCE
66,024 $
58,773 4,601 -
Actual
$
63,374
62,950
60,022
52,613
3,352
10,337
FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31
(See independent auditor's report.) - 74 -
59,659 3,877 (586)
12,981 $
23,318
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF EXPENDITURES BUDGET AND ACTUAL MUSEUM FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget CULTURE AND RECREATION Salaries and wages Maintenance labor - full-time Promotion Total salaries and wages
$
$
41,047 $ 325
36,810 174
41,372
36,984
600 500 2,000
256 659
3,100
915
490 1,026 1,000
279 1,059 -
2,516
1,338
2,518 2,310 1,126 7,080
1,253 2,658 1,227 8,238
14,337
13,034
13,376
66,024 $
60,022
45,509
Supplies and commodities Office supplies Janitorial supplies Parts/fittings - machinery equipment Total supplies and commodities
3,410
Contractual services Printing/typesetting Data processing Other Total contractual services
2,768
Utilities Electricity Gas - heating Water - sewer Telephone Total utilities TOTAL EXPENDITURES
$
Actual
(See independent auditor's report.) - 75 -
$
52,613
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL SPECIAL POPULATIONS FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget REVENUES Taxes Property taxes - current - Cook County Property taxes - current - Lake County Property taxes - prior
$
Total revenues EXPENDITURES Culture and recreation Contractual services Northwest Suburban Recreation Association Contractual services - other Supplies and commodities Parts/fittings Capital outlay Building improvements Land improvements Total expenditures
419,646 32,854 -
Actual
$
452,500
404,795
230,418 23,950
230,418 7,916
8,000
3,809
10,821 130,000 $
443,508
NET CHANGE IN FUND BALANCE
$
-
403,189
242,143
49,311
162,652
FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31
(See independent auditor's report.) - 76 -
384,390 24,414 (4,009)
354,392 $
517,044
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL POLICE FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget REVENUES Taxes Property taxes - current - Cook County Property taxes - current - Lake County Property taxes - prior
$
Total revenues
$
Contractual services Communication equipment/services Total expenditures
$
38,353 2,492 (293) 40,552
25,150 22,249
19,903
47,399
19,903
1,000 700
-
1,870
1,700
-
370
336
307
54,379
49,435
20,210
(8,694)
20,342
52,139
Supplies and commodities Wearing apparel Program equipment/supplies Total supplies and commodities
$
40,741
EXPENDITURES General government Salaries and wages Park community service officer Human resources/risk manager Total salaries and wages
37,783 2,958 -
Actual
NET CHANGE IN FUND BALANCE
$
FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31
(See independent auditor's report.) - 77 -
24,210 $
44,552
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL PAVING AND LIGHTING FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget REVENUES Taxes Property taxes - current - Cook County Property taxes - current - Lake County Property taxes - prior - Cook County
$
Total revenues EXPENDITURES Culture and recreation Supplies and commodities Total expenditures
$
NET CHANGE IN FUND BALANCE
33,000 $
6,297 493 -
Actual
$
6,790
6,556
30,000
49,007
30,000
49,007
(23,210)
(42,451)
FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31
(See independent auditor's report.) - 78 -
6,392 416 (252)
50,798 $
8,347
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL BOND AND INTEREST ARS FUND For the Year Ended December 31, 2020
Original and Final Original and Appropriation Final Budget REVENUES Intergovernmental
$
EXPENDITURES Interest and fiscal charges Bonds Fiscal charges Total expenditures
$
396,548
EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES OTHER FINANCING SOURCES (USES) Payment to escrow agent Transfers in Corporate Fund Recreation Fund Total other financing sources (uses) NET CHANGE IN FUND BALANCE
$
118,196
Actual
$
360,023 475
196,743 -
360,498
196,743
(242,302)
(137,456)
(430,000)
(530,750)
359,992 312,310
355,896 312,310
242,302
137,456
-
-
FUND BALANCE, JANUARY 1 FUND BALANCE, DECEMBER 31
(See independent auditor's report.) - 79 -
59,287
$
-
PROPRIETARY FUND
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF OPERATING REVENUES - BUDGET AND ACTUAL CHEVY CHASE COUNTRY CLUB FUND For the Year Ended December 31, 2020
Original and Final Budget CHARGES FOR SERVICES Fees and admissions Daily green fees Membership/passes Players card Driving range
$
Total fees and admissions
1,221,549 13,200 9,620 86,000
Actual
$
1,257,054 7,650 49,092
1,330,369
1,313,796
Rentals Club rental Pull cart rental Golf cart rental Equipment rental Table cover rental Room rental
4,880 1,476 436,185 26,925 11,221 77,590
1,375 3,334 458,730 3,723 445 15,650
Total rentals
558,277
483,257
Sales Golf shop Food Beverage Service charge Discounts Miscellaneous
83,514 2,392,959 1,070,596 662,139 1,900
43,898 236,336 191,814 61,487 831
Total sales
4,211,108
534,366
Total charges for services
6,099,754
2,331,419
25,000 15,000 2,347 11,470 18,914 3,085 77,528 1,500 11,725 30,862
25,000 2,000 1,200 215 480 11,416 3,600 180 2,188
197,431
46,279
MISCELLANEOUS Management fee Forfeited deposits Golf ball retrieval DGT revenue Golf lessons Handicap service Banquet labor Ceremony fees Bartender fees Advertising revenue Miscellaneous Total miscellaneous $
TOTAL OPERATING REVENUES
(See independent auditor's report.) - 80 -
6,297,185
$
2,377,698
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL CHEVY CHASE COUNTRY CLUB FUND For the Year Ended December 31, 2020
Original and Final Appropriation SALARIES AND WAGES Executive Director Deputy Director Clerical - full-time Clerical - part-time Clerical - part-time - finance Clerical - part-time - human resources Accounting personnel Promotion - part-time Technology staff Human resources/risk manager Golf instructors Driving range labor Maintenance labor - full-time Maintenance labor - part-time/seasonal Golf professionals Outside services Inside services Food and beverage - full-time General Manager Kitchen labor - cooks/prep Kitchen labor - dishwashers Server/bus labor Coat room attendant Bartenders Gable bartenders Refreshment cart Community relations/promotions Compensated absences Total salaries and wages
Original and Final Budget
$
$
2,969,068
SUPPLIES AND COMMODITIES Office supplies Office equipment Staff recognition awards Janitorial supplies Promotional supplies Wearing apparel Mulch Top dressing sand and top soil Sod/seed Trees and plants Annuals and perennials Electrical/lighting supplies Plumbing/heating supplies Small tools/equipment
(This schedule is continued on the following pages.) - 81 -
56,388 15,612 78,438 72,000 11,652 5,160 25,498 1,623 12,645 69,102 12,097 7,000 468,184 244,954 165,227 63,508 82,110 720,825 66,516 62,900 46,575 336,776 1,100 21,925 20,830 12,000 18,508 -
Actual
$
56,361 15,808 58,916 16,556 2,551 300 25,600 1,743 12,695 57,604 426,674 149,342 163,516 41,254 22,578 356,379 71,938 2,814 6,329 44,591 5,416 2,104 4,793 11,472 (15,064)
2,699,153
1,542,270
7,099 400 3,050 21,200 14,500 44,740 2,700 12,500 4,500 9,700 7,200 1,500 3,600
2,365 1,090 2,942 9,464 6,596 7,853 7,517 13,530 1,646 2,590 2,128
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (Continued) CHEVY CHASE COUNTRY CLUB FUND For the Year Ended December 31, 2020
Original and Final Appropriation SUPPLIES AND COMMODITIES (Continued) Shop materials Fuel - maintenance vehicles Oil/lube Parts/fittings - mowing equipment Parts/fittings - sprinkler/irrigation Parts/fittings - machinery/equipment Parts/fittings - buildings Fungicides/herbicides/insecticides Fertilizers Course supplies Operations equipment/supplies Soft goods - men Soft goods - ladies Soft goods - children Hard goods Accessories Operational supplies Game equipment Rental clubs Decorations and displays Special events expense Cleaning supplies Bar supplies China/glass/silver Dining room supplies Kitchen supplies Audio/visual equipment Promotion supplies Technology equipment Food Beverage Cigars Inventory variance Total supplies and commodities
Original and Final Budget
$
$
1,641,048
(This schedule is continued on the following pages.) - 82 -
3,600 20,950 2,400 24,000 20,400 9,600 15,400 110,000 61,500 6,600 20,500 26,573 1,468 19,379 8,174 1,700 500 750 8,200 9,900 14,000 3,750 10,500 6,100 24,050 4,400 5,000 18,231 645,139 255,269 1,140 1,491,862
Actual
$
2,610 13,333 1,104 33,102 18,707 8,805 4,765 112,799 37,580 7,017 9,644 7,137 1,777 83 12,606 4,788 1,018 28 4,194 1,432 495 965 3,742 4,847 95,192 68,090 565 798 514,944
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (Continued) CHEVY CHASE COUNTRY CLUB FUND For the Year Ended December 31, 2020
Original and Final Appropriation CONTRACTUAL SERVICES Pest control services Linen service Refuse disposal Equipment service agreements Postage Mileage reimbursement Brochure and media kits Printing/typesetting/publishing Advertising/display Advertising - print Advertising - internet/TV Advertising - classified Marketing/promotion Communications equipment/service Bank service charges Credit card fees Licenses/permits Entertainment Equipment rental Data processing Leased equipment Handicap service expense DGT fees Direct TV Driving range Contractual services - other Total contractual services
Original and Final Budget
$
$
757,833
MAINTENANCE AND REPAIRS Carts Equipment Total maintenance and repairs
27,115
BENEFITS Employee group health insurance Unemployment compensation Total benefits
545,734
UTILITIES Electricity Gas - heating Water/sewer Telephone Total utilities
274,330
(This schedule is continued on the following page.) - 83 -
6,600 105,000 31,350 3,156 1,938 1,200 200 3,449 10,150 30,500 6,250 15,000 7,575 1,224 126,165 6,150 19,800 8,900 45,374 5,293 2,660 8,200 3,120 2,900 236,785
Actual
$
4,488 16,274 21,231 3,963 167 870 88,703 41 23,511 7,500 791 7,144 1,980 80,335 7,197 1,182 93,014 5,239 970 500 3,066 140,748
688,939
508,914
5,150 19,500
6,113 2,425
24,650
8,538
454,522 41,600
266,461 33,016
496,122
299,477
140,940 33,425 21,058 53,968
113,189 28,167 14,530 32,248
249,391
188,134
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (Continued) CHEVY CHASE COUNTRY CLUB FUND For the Year Ended December 31, 2020
Original and Final Appropriation OTHER Continuing education Dues/membership Contingency Management fee Miscellaneous
Original and Final Budget
$
Total other
$
52,432
CAPITAL OUTLAY Building improvements Equipment Total capital outlay
154,000 $
TOTAL OPERATING EXPENSES
6,421,560
ADJUSTMENT TO GAAP BASIS Less assets capitalized Pension - related items - IMRF OPEB items
$
$
Total adjustment to GAAP basis
-
TOTAL OPERATING EXPENSES - GAAP BASIS
$
6,421,560
(See independent auditor's report.) - 84 -
7,058 4,467 10,000 23,781 2,359
Actual
$
47,665
57,677
10,000 130,000
45,000
140,000
45,000
5,837,782
-
$
$
$
3,311 4,919 46,640 2,807
5,837,782
3,164,954
(45,000) (5,442) 10,793 (39,649)
$
3,125,305
WHEELING PARK DISTRICT WHEELING, ILLINOIS SCHEDULE OF CAPITAL ASSETS AND DEPRECIATION CHEVY CHASE COUNTRY CLUB FUND For the Year Ended December 31, 2020
Capital Assets Balances January 1
Land Land improvements Building and improvements Vehicles and equipment TOTAL
$
3,131,375
Additions
$
Accumulated Depreciation
Retirements
-
$
-
Balances December 31
$
3,131,375
Balances January 1
$
-
Provisions
$
-
Retirements
$
-
Balances December 31
$
-
4,468,246
-
-
4,468,246
3,983,283
178,498
-
4,161,781
15,109,322
-
-
15,109,322
8,424,704
844,823
-
9,269,527
1,752,245
45,000
-
1,797,245
1,340,064
183,377
-
1,523,441
-
$ 24,506,188
$ 13,748,051
-
$ 14,954,749
$ 24,461,188
$
45,000
$
(See independent auditor's report.) - 85 -
$
1,206,698
$
SUPPLEMENTAL DATA
WHEELING PARK DISTRICT WHEELING, ILLINOIS LONG-TERM DEBT REQUIREMENTS GENERAL OBLIGATION PARK BONDS (ALTERNATE REVENUE SOURCE), SERIES 2014A December 31, 2020
Date of Issue Date of Maturity Authorized Issue Interest Rate Interest Dates Principal Maturity Date Payable at
October 28, 2014 November 1, 2024 $3,380,000 3.00% May 1 and November 1 November 1 Amalgamated Bank of Chicago Chicago, IL
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Fiscal Year 2021 2022 2023 2024
Principal $
Requirements Interest
350,000 365,000 375,000 385,000
$
44,250 33,750 22,800 11,550
$ 1,475,000
$
112,350
Total $
394,250 398,750 397,800 396,550
$ 1,587,350
Interest Due On Amount November 1
May 1 2021 2022 2023 2024
$
22,125 16,875 11,400 5,775
$
56,175
(See independent auditor's report.) - 86 -
2021 2022 2023 2024
Amount $
22,125 16,875 11,400 5,775
$
56,175
WHEELING PARK DISTRICT WHEELING, ILLINOIS LONG-TERM DEBT REQUIREMENTS GENERAL OBLIGATION PARK BONDS (ALTERNATE REVENUE SOURCE), SERIES 2018A December 31, 2020
Date of Issue Date of Maturity Authorized Issue Interest Rate Interest Dates Principal Maturity Date Payable at
October 23, 2018 November 1, 2033 $3,375,000 3.10% to 5.00% May 1 and November 1 November 1 Amalgamated Bank of Chicago Chicago, IL
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Fiscal Year 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033
Principal $
Requirements Interest
Total
180,000 185,000 195,000 205,000 215,000 225,000 240,000 245,000 255,000 260,000 270,000 280,000 290,000
$
125,747 116,747 107,497 97,748 87,498 76,748 65,498 58,058 50,340 42,180 33,600 22,800 11,600
$
305,747 301,747 302,497 302,748 302,498 301,748 305,498 303,058 305,340 302,180 303,600 302,800 301,600
$ 3,045,000
$
896,061
$ 3,941,061
Interest Due On Amount November 1
May 1 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033
$
62,873 58,373 53,748 48,874 43,749 38,374 32,749 29,029 25,170 21,090 16,800 11,400 5,800
$
448,029
(See independent auditor's report.) - 87 -
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033
Amount $
62,874 58,374 53,749 48,874 43,749 38,374 32,749 29,029 25,170 21,090 16,800 11,400 5,800
$
448,032
WHEELING PARK DISTRICT WHEELING, ILLINOIS LONG-TERM DEBT REQUIREMENTS GENERAL OBLIGATION REFUNDING PARK BONDS (ALTERNATE REVENUE SOURCE), SERIES 2020 December 31, 2020
Date of Issue Date of Maturity Authorized Issue Interest Rates Interest Dates Principal Maturity Date Payable at
September 8, 2020 November 1, 2030 $5,205,000 3.00% to 4.00% May 1 and November 1 November 1 Amalgamated Bank of Chicago Chicago, IL
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Fiscal Year 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
Principal $
140,000 480,000 500,000 520,000 540,000 565,000 585,000 605,000 625,000 645,000
$ 5,205,000
Requirements Interest $
217,341 183,850 164,650 144,650 123,850 102,250 79,650 56,250 38,100 19,350
$ 1,129,941
Total $
357,341 663,850 664,650 664,650 663,850 667,250 664,650 661,250 663,100 664,350
$ 6,334,941
Interest Due On Amount November 1
May 1 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
$
122,616 91,925 82,325 72,325 61,925 51,125 39,825 28,125 19,050 9,675
$
578,916
(See independent auditor's report.) - 88 -
2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
Amount $
94,725 91,925 82,325 72,325 61,925 51,125 39,825 28,125 19,050 9,675
$
551,025
WHEELING PARK DISTRICT WHEELING, ILLINOIS LONG-TERM DEBT REQUIREMENTS GENERAL OBLIGATION LIMITED TAX PARK BONDS, SERIES 2020 December 31, 2020
Date of Issue Date of Maturity Authorized Issue Interest Rate Interest Dates Principal Maturity Date Payable at
October 27, 2020 November 1, 2021 $1,418,000 0.83% November 1 November 1 Northbrook Bank & Trust
CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS Tax Levy Year
Requirements Interest
Principal
2020
$ 1,418,000
$
11,900
$ 1,429,900
$ 1,418,000
$
11,900
$ 1,429,900
Total
(See independent auditor's report.) - 89 -
Interest Due on November 1 Amount 2021
$
11,900
$
11,900
STATISTICAL SECTION This part of the Wheeling Park 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 changed over time.
90-99
Revenue Capacity These schedules contain information to help the reader assess the District’s most significant local revenue source, the property tax.
100-105
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.
106-109
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.
110-111
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.
112-114
Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial reports for the relevant years.
WHEELING PARK DISTRICT WHEELING, ILLINOIS NET POSITION BY COMPONENT Last Ten Fiscal Years
Fiscal Year
2011
2012
2013
2014
GOVERNMENTAL ACTIVITIES Net investment in capital assets Restricted Unrestricted
$ 17,066,635 628,386 5,246,330
$ 17,896,175 456,307 6,658,702
$ 18,764,862 402,840 8,333,160
$ 35,287,106 621,417 9,760,862
TOTAL GOVERNMENTAL ACTIVITIES
$ 22,941,351
$ 25,011,184
$ 27,500,862
$ 45,669,385
BUSINESS-TYPE ACTIVITIES Net investment in capital assets Restricted Unrestricted
$ 10,168,703 1,229,274
$ 10,188,481 1,352,325
$
$
TOTAL BUSINESS-TYPE ACTIVITIES
$ 11,397,977
$ 11,540,806
$ 11,264,497
$ 10,881,434
PRIMARY GOVERNMENT Net investment in capital assets Restricted Unrestricted
$ 27,235,338 628,386 6,475,604
$ 28,084,656 456,307 8,011,027
$ 28,429,377 402,840 9,933,142
$ 44,358,045 621,417 11,571,357
TOTAL PRIMARY GOVERNMENT
$ 34,339,328
$ 36,551,990
$ 38,765,359
$ 56,550,819
Data Source Audited Financial Statements
- 90 -
9,664,515 1,599,982
9,070,939 1,810,495
2015
2016
2017
2018
2019
2020
$ 34,744,705 513,732 10,303,075
$ 33,987,623 757,331 11,154,339
$ 34,133,577 846,034 11,326,833
$ 34,981,152 798,637 12,003,504
$ 42,354,047 825,046 5,641,096
$ 41,616,359 1,875,769 7,158,825
$ 45,561,512
$ 45,899,293
$ 46,306,444
$ 47,783,293
$ 48,820,189
$ 50,650,953
$ 10,231,104 1,754,733
$ 10,645,279 2,211,758
$ 10,434,695 1,517,575
$
$
8,845,326 1,966,620
$
8,041,289 874,743
$ 11,985,837
$ 12,857,037
$ 11,952,270
$ 11,629,030
$ 10,811,946
$
8,916,032
$ 44,975,809 513,732 12,057,808
$ 44,632,902 757,331 13,366,097
$ 44,568,272 846,034 12,844,408
$ 44,703,781 798,637 13,909,905
$ 51,199,373 825,046 7,607,716
$ 49,657,648 1,875,769 8,033,568
$ 57,547,349
$ 58,756,330
$ 58,258,714
$ 59,412,323
$ 59,632,135
$ 59,566,985
9,722,629 1,906,401
- 91 -
WHEELING PARK DISTRICT WHEELING, ILLINOIS CHANGE IN NET POSITION Last Ten Fiscal Years
Fiscal Year EXPENSES Governmental activities General government Culture and recreation Interest and fiscal charges
2011
$
Total governmental activities expenses Business-type activities Chevy Chase Country Club Total business-type activities expenses TOTAL PRIMARY GOVERNMENT EXPENSES PROGRAM REVENUES Governmental activities Charges for services Culture and recreation Operating grants Interest and fiscal charges Capital grants and donations General government Culture and recreation
2,728,966 4,641,359 633,552
$
2,956,042 4,732,278 564,298
2013
$
3,024,746 4,816,114 526,859
2014
$
3,137,637 6,055,255 476,965
8,003,877
8,252,618
8,367,719
9,669,857
3,901,868
4,044,891
4,113,335
4,259,686
3,901,868
4,044,891
4,113,335
4,259,686
$
11,905,745
$
12,297,509
$
12,481,054
$
13,929,543
$
2,391,518
$
2,465,598
$
2,416,930
$
2,739,856
Total governmental activities program revenues Business-type activities Chevy Chase Country Club Charges for services Capital grants and donations Total business-type activities program revenues TOTAL PRIMARY GOVERNMENT PROGRAM REVENUES
2012
$
147,827
160,779
152,959
144,765
1,015 -
294,835 100,000
64,029 192,573
812,896 15,710,888
2,540,360
3,021,212
2,826,491
19,408,405
3,811,392 17,670
3,914,667 -
3,861,589 -
3,940,686 -
3,829,062
3,914,667
3,861,589
3,940,686
6,369,422
- 92 -
$
6,935,879
$
6,688,080
$
23,349,091
2015
$
3,445,060 6,595,234 447,288
2016
$
2017
3,643,934 6,931,055 428,710
$
3,806,732 7,077,611 420,957
2018
$
3,799,678 6,955,396 436,140
2019
$
4,087,816 7,715,915 529,990
2020
$
3,539,924 6,205,697 536,341
10,487,582
11,003,699
11,305,300
11,191,214
12,333,721
10,281,962
4,499,656
5,426,033
5,316,114
5,829,698
6,415,095
4,367,092
4,499,656
5,426,033
5,316,114
5,829,698
6,415,095
4,367,092
$
14,987,238
$
16,429,732
$
16,621,414
$
17,020,912
$
18,748,816
$
14,649,054
$
3,021,184
$
3,078,294
$
3,149,798
$
3,112,917
$
3,188,820
$
1,101,599
$
142,027
138,690
133,963
129,423
124,326
118,699
571,672 -
1,015 -
2,031 -
499,238 61,000
30,000 835,174
440,121 1,085,174
3,734,883
3,217,999
3,285,792
3,802,578
4,178,320
2,745,593
4,123,565 -
4,684,721 -
4,171,500 -
5,255,942 -
5,449,626 -
2,377,698 -
4,123,565
4,684,721
4,171,500
5,255,942
5,449,626
2,377,698
7,858,448
$
7,902,720
$
7,457,292
$
9,058,520
- 93 -
$
9,627,946
$
5,123,291
WHEELING PARK DISTRICT WHEELING, ILLINOIS CHANGE IN NET POSITION (Continued) Last Ten Fiscal Years
Fiscal Year NET REVENUE (EXPENSE) Governmental activities Business-type activities TOTAL PRIMARY GOVERNMENT NET REVENUE (EXPENSE) GENERAL REVENUES AND OTHER CHANGES IN NET POSITION Governmental activities Taxes Property Replacement* Other Intergovernmental Investment income Gain on sale of capital assets Miscellaneous Transfers
2011
2012
2013
2014
$
(5,463,517) $ (72,806)
(5,231,406) $ (130,224)
(5,541,228) $ (251,746)
9,738,548 (319,000)
$
(5,536,323) $
(5,361,630) $
(5,792,974) $
9,419,548
$
7,285,331 $ 78,988 200,802 56,255 105,633 (40,962)
7,364,023 $ 79,133 129,306 60,197 102,814 (264,266)
7,584,547 87,726 143,296 64,218 116,238 34,880
7,686,047
7,471,207
8,030,905
4,583 40,962
8,787 264,266
10,317 (34,880)
10,693 (74,756)
45,545
273,053
(24,563)
(64,063)
Total governmental activities Business-type activities Property taxes Investment income Contributions Gain on sale of capital assets Miscellaneous Transfers Total business-type activities
$
7,761,753 90,303 389,843 (48,092) 161,412 74,756 8,429,975
TOTAL PRIMARY GOVERNMENT
$
7,731,592
$
7,744,260
$
8,006,342
CHANGE IN NET POSITION Governmental activities Business-type activities
$
2,222,530 $ (27,261)
2,239,801 142,829
$
2,489,677 $ (276,309)
18,168,523 (383,063)
$
2,195,269
2,382,630
$
2,213,368
17,785,460
TOTAL PRIMARY GOVERNMENT CHANGE IN NET POSITION
$
$
$
8,365,912
Note: The District received $16,476,847 in donated capital assets during the year ended December 31, 2014 reported as capital grants and contributions. *Replacement taxes were included with intergovernmental revenue beginning in fiscal year 2016. Data Source Audited Financial Statements
- 94 -
2015
2016
2017
2018
2019
2020
$
(6,752,699) $ (376,091)
(7,785,700) $ (741,312)
(8,019,508) $ (1,144,614)
(7,388,636) $ (573,756)
(8,155,401) $ (965,469)
(7,536,369) (1,989,394)
$
(7,128,790) $
(8,527,012) $
(9,164,122) $
(7,962,392) $
(9,120,870) $
(9,525,763)
$
7,862,796 $ 96,262 184,394 80,133 270,425 (1,585,223)
8,089,605 $ 266,965 72,285 386,689 (1,302,900)
7,980,552 $ 279,940 158,833 224,010 (216,676)
8,182,164 $ 353,025 312,696 381,423 (240,838)
8,328,434 $ 449,922 345,755 154,276 (86,090)
8,808,747 401,774 65,115 170,819 (79,322)
6,908,787
7,512,644
8,426,659
8,988,470
9,192,297
9,367,133
19,945 1,585,223
21,106 1,302,900
23,171 216,676
45,147 240,838
62,295 86,090
14,158 79,322
1,605,168
1,324,006
239,847
285,985
148,385
93,480
$
8,513,955
$
$
156,088 1,229,077
$
$
1,385,165
$
8,836,650
$
(273,056) $ 582,694
309,638
$
8,666,506
$
9,274,455
$
407,151 $ (904,767)
1,599,834 $ (287,771)
(497,616) $
1,312,063
- 95 -
$
9,340,682
$
1,036,896 $ (817,084)
219,812
$
9,460,613
1,830,764 (1,895,914)
(65,150)
WHEELING PARK DISTRICT WHEELING, ILLINOIS FUND BALANCES OF GOVERNMENTAL FUNDS Last Ten Fiscal Years
Fiscal Year
2011
2012
2013
2014
GENERAL FUND Nonspendable Unassigned
$
5,354 966,865
$
7,689 969,485
$
8,255 969,999
$
6,257 972,587
TOTAL GENERAL FUND
$
972,219
$
977,174
$
978,254
$
978,844
$
5,847
$
2,951
$
4,686
$
7,302
ALL OTHER GOVERNMENTAL FUNDS Nonspendable Prepaid items Restricted Employee retirement Audit Public safety Museum Special populations Debt service Capital projects Liability insurance Assigned Recreation programs Liability insurance Capital projects Unassigned Debt service Special revenue TOTAL ALL OTHER GOVERNMENTAL FUNDS
268,453 9,357 31,253 16,646 231,338 5,220,011 51,373
130,346 29,943 19,425 8,844 174,989 4,740,715 -
183,635 12,046 28,009 101,894 1,640,903 -
220,381 13,648 23,443 16,355 13,331 112,312 2,018,143 155,420
1,272,312 54,112 3,181,900
1,282,317 87,101 4,586,077
1,281,619 120,933 6,266,084
1,279,385 7,743,494
(201,641)
$ 10,140,961
Data Source Audited Financial Statements
- 96 -
(24,738)
$ 11,037,970
(81,180)
$
9,558,629
-
$ 11,603,214
2015
2016
2017
2018
2019
2020
$
4,695 974,189
$
6,608 972,354
$
6,466 972,580
$
7,318 982,649
$
9,859 984,487
$
15,407 989,654
$
978,884
$
978,962
$
979,046
$
989,967
$
994,346
$
1,005,061
$
8,514
$
10,126
$
11,044
$
10,092
$
15,599
$
5,507
154,056 12,528 32,160 24,749 112,145 2,659,280 125,599
207,674 22,452 38,177 28,345 148,405 143,275 2,806,524 121,970
225,090 11,535 29,636 14,595 250,843 126,485 3,779,467 133,313
247,824 12,077 38,167 11,361 212,790 119,195 2,002,890 120,156
188,105 9,540 24,210 12,981 354,392 93,119 1,639,197 89,863
440,428 8,178 44,552 23,318 517,044 702,588 2,824,632 130,685
1,278,115 8,475,884
1,276,914 9,214,360
1,276,334 9,592,101
1,282,736 10,389,578
1,290,497 4,160,346
1,315,768 5,644,997
(756,737) -
$ 12,126,293
-
$ 14,018,222
-
$ 15,450,443
-
$ 14,446,866
- 97 -
-
$
7,877,849
-
$ 11,657,697
WHEELING PARK DISTRICT WHEELING, ILLINOIS CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS Last Ten Fiscal Years
Fiscal Year REVENUES Taxes Charges for services Intergovernmental Investment income Donations Miscellaneous Total revenues EXPENDITURES General government Culture and recreation Capital outlay Debt service Principal Interest Bond issuance costs Total expenditures
2011
$
7,364,317 2,377,906 348,629 56,255 7,664 112,599
$
7,672,273 2,400,697 522,399 64,218 31,179 131,750
$
7,852,059 2,722,114 556,240 (48,092) 26,250 178,206
10,822,516
11,286,777
2,395,122 4,007,608 4,904,804
2,481,270 4,105,688 1,713,339
2,420,985 4,179,377 4,273,827
2,631,148 4,546,339 839,073
1,433,531 578,205 6,000
1,530,000 570,867 6,350
1,625,000 534,937 7,000
1,610,000 489,898 -
13,325,270
10,407,514
13,041,126
10,116,458
(2,218,610)
1,170,319
675,000 2,574,152 (2,508,803)
800,000 2,587,431 (2,512,675)
OTHER FINANCING SOURCES (USES) Bonds issued Premium on bonds Payment to escrow agent Transfers in Transfers (out)
400,000 2,686,710 (2,641,959)
DEBT SERVICE AS A PERCENTAGE OF NONCAPITAL EXPENDITURES
7,443,154 2,449,318 390,085 60,197 295,594 118,337
2014
10,756,685
(3,057,900)
NET CHANGE IN FUND BALANCES
$
2013
10,267,370
EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES
Total other financing sources (uses)
2012
444,751 $ (2,613,149) $
23.89%
Data Source Audited Financial Statements
- 98 -
349,171
500,000 2,278,897 (2,226,104) 552,793 901,964
23.24%
740,349 $ (1,478,261) $
24.48%
874,756 2,045,075
22.44%
2015
$
7,959,057 2,988,375 326,421 80,135 574,320 300,585
2016
$
$
8,070,627 3,119,397 373,829 158,833 16,221 190,220
2018
$
8,182,164 3,087,863 673,099 312,696 516,483 259,581
2019
$
8,328,433 3,163,897 1,439,424 345,755 18,007 161,191
2020
$
8,868,155 1,094,006 1,546,235 65,115 443,735 174,802
12,228,893
12,033,543
11,929,127
13,031,886
13,456,707
12,192,048
2,652,542 4,732,486 2,130,477
2,655,806 4,829,786 2,648,908
2,918,190 5,060,464 1,629,765
3,078,548 5,021,348 8,627,090
3,208,715 5,311,669 10,308,805
2,725,926 3,460,919 1,673,092
1,655,000 458,170 -
810,000 433,553 -
1,710,000 427,178 -
1,730,000 416,511 -
1,925,000 556,066 -
1,545,000 645,892 -
11,628,675
11,378,053
11,745,597
18,873,497
21,310,255
10,050,829
600,218
655,490
183,530
(5,841,611)
(7,853,548)
2,141,219
3,467,013 (3,544,012) (76,999) $
8,174,900 3,037,726 320,359 72,285 17,113 411,160
2017
523,219
19.16%
$
1,315,000 2,661,763 (2,740,246)
1,325,000 2,269,780 (2,346,005)
4,725,000 192,292 2,791,055 (2,859,392)
1,375,000 2,242,060 (2,328,150)
6,623,000 815,666 (5,710,000) 2,175,103 (2,254,425)
1,236,517
1,248,775
4,848,955
1,288,910
1,649,344
1,892,007
12.35%
$
1,432,305
20.69%
$
(992,656) $ (6,564,638) $
20.52%
- 99 -
22.54%
3,790,563
26.09%
WHEELING PARK DISTRICT WHEELING, ILLINOIS ASSESSED VALUE AND ACTUAL VALUE OF TAXABLE PROPERTY Last Ten Levy Years
Levy Year
Residential Property
Farm Property
2010
$ 644,977,930
2011
583,090,990
37,187
2012
523,075,739
2013
$
37,187
Commercial Property $
187,529,668
Industrial Property $
Total Taxable Assessed Value
Railroad Property
459,833,315
$ 1,253,590
173,301,217
400,649,715
37,187
164,874,856
407,395,244
35,715
2014
426,586,676
2015
$
Total Direct Tax Rate
1,293,631,690
0.5705
1,162,024
1,158,241,133
368,564,704
758,102
163,359,463
320,848,188
126,078
206,245,295
415,325,941
48,507
2016
497,162,537
2017
Estimated Actual Taxable Value $
Percent of Assessed Value
3,880,895,070
33.333%
0.6539
3,474,723,399
33.333%
1,057,310,588
0.7372
3,171,931,764
33.333%
783,286
892,421,896
0.8987
2,677,265,688
33.333%
282,992,357
917,222
916,867,628
0.8891
2,750,602,884
33.333%
200,358,449
275,006,551
1,106,149
891,845,597
0.9235
2,675,536,791
33.333%
143,114
210,849,391
292,136,056
1,221,970
1,001,513,068
0.8285
3,004,539,204
33.333%
495,207,515
143,504
212,935,730
306,339,010
1,009,308
1,015,635,067
0.8418
3,046,905,201
33.333%
2018
488,272,089
147,211
209,970,243
303,896,849
1,062,667
1,003,349,059
0.8799
3,010,047,177
33.333%
2019
584,331,615
48,371
251,619,835
347,394,661
1,070,918
1,184,465,400
0.7772
3,553,396,200
33.333%
Note: Property in the District is reassessed every three years. Property is assessed at 33% of actual value. Total direct tax rate is the Cook County rate. Data Source Office of the County Clerk
- 100 -
WHEELING PARK DISTRICT WHEELING, ILLINOIS PROPERTY TAX ASSESSED VALUATIONS, RATES AND EXTENSIONS Last Ten Levy Years
Tax Levy Year
2019
COUNTY ASSESSED VALUATIONS
Cook $
1,102,451,475 Rate
2018 Lake
$
Amount
Total
82,013,925
$1,184,465,400
Amount
Amount
Rate
Cook $
930,499,809 Rate
Lake $
Amount
Total
72,849,250
$1,003,349,059
Amount
Amount
Rate
TAX EXTENSIONS Corporate Tort immunity Audit Recreation Museum Special recreation IMRF FICA Police Paving and lighting Bond and interest Limited tax park bonds
0.2722 $ 3,000,508 0.0393 433,787 0.0045 49,280 0.2215 2,442,107 0.0056 61,188 0.0358 394,239 0.0327 360,580 0.0379 417,397 0.0036 39,336 0.0006 6,556 0.0000 0.1235 1,361,384
0.2403 $ 0.0343 0.0038 0.1931 0.0048 0.0305 0.0285 0.0330 0.0031 0.0005 0.0000 0.1066
197,062 28,127 3,124 158,337 3,968 24,988 23,380 27,064 2,551 425 87,450
$
3,197,570 461,914 52,404 2,600,444 65,156 419,227 383,960 444,461 41,887 6,981 1,448,834
0.2987 $ 2,779,237 0.0439 408,375 0.0051 47,051 0.2698 2,510,185 0.0059 55,106 0.0405 376,417 0.0264 246,010 0.0404 375,903 0.0030 27,553 0.0025 23,616 0.0000 0.1437 1,336,713
0.2610 $ 0.0360 0.0043 0.2215 0.0049 0.0352 0.0217 0.0332 0.0024 0.0021 0.0000 0.1169
190,107 26,252 3,162 161,363 3,543 25,644 15,815 24,165 1,771 1,520 85,135
$
2,969,344 434,627 50,213 2,671,548 58,649 402,061 261,825 400,068 29,324 25,136 1,421,848
TOTAL TAX EXTENSIONS
0.7772 $ 8,566,362
0.6785 $
556,476
$
9,122,838
0.8799 $ 8,186,166
0.7392 $
538,477
$
8,724,643
UNCOLLECTIBLE PROVISION
3%
0%
Tax Levy Year
0%
2015
COUNTY ASSESSED VALUATIONS
3%
Cook $
824,559,290 Rate
2014 Lake
$
Amount
Total
67,286,307
$ 891,845,597
Amount
Amount
Rate
Cook $
847,759,656 Rate
Lake $
Amount
Total
69,107,972
$ 916,867,628
Amount
Amount
Rate
TAX EXTENSIONS Corporate Tort immunity Audit Recreation Museum Special recreations IMRF FICA Police Paving and lighting Bond and interest Limited tax park bonds
0.3105 $ 2,560,176 0.0380 313,383 0.0050 41,364 0.2858 2,356,960 0.0052 43,012 0.0401 330,518 0.0394 324,795 0.0417 344,107 0.0051 42,136 0.0001 878 0.0000 0.1526 1,257,900
0.3275 $ 0.0378 0.0053 0.2840 0.0052 0.0429 0.0389 0.0412 0.0051 0.0000 0.0000 0.1500
220,334 25,465 3,530 191,111 3,520 28,872 26,191 27,668 3,443 100,913
$
2,780,510 338,848 44,894 2,548,071 46,532 359,390 350,986 371,775 45,579 878 1,358,813
0.2921 $ 2,476,180 0.0394 333,901 0.0049 41,951 0.2843 2,410,081 0.0062 52,225 0.0394 334,360 0.0348 295,374 0.0345 292,805 0.0059 49,656 0.0001 855 0.0000 0.1475 1,250,340
0.2808 $ 0.0343 0.0034 0.2477 0.0054 0.0285 0.0294 0.0301 0.0041 0.0000 0.0000 0.1282
194,023 23,712 2,321 171,151 3,710 19,716 20,318 20,794 2,869 88,630
$
2,670,203 357,613 44,272 2,581,232 55,935 354,076 315,692 313,599 52,525 855 1,338,970
TOTAL TAX EXTENSIONS
0.9235 $ 7,615,229
0.9379 $
631,047
$
8,246,276
0.8891 $ 7,537,728
0.7919 $
547,244
$
8,084,972
UNCOLLECTIBLE PROVISION
3%
0%
Tax Levy Year
0%
2011
COUNTY ASSESSED VALUATIONS
3%
Cook $
1,087,061,912 Rate
Amount
2010 Lake
$
Total
71,179,221
$1,158,241,133
Amount
Amount
Rate
Cook $
Lake 1,218,962,209
Rate
Amount
Total
$
74,669,481
$1,293,631,690
Amount
Amount
Rate
TAX EXTENSIONS Corporate Tort immunity Audit Recreation Museum Special recreations IMRF FICA Police Paving and lighting Bond and interest Limited tax park bonds
0.2389 $ 2,597,469 0.0322 350,577 0.0045 48,798 0.1766 1,919,826 0.0034 37,241 0.0397 431,885 0.0234 254,264 0.0215 233,717 0.0032 34,672 0.0019 20,546 0.1086 1,180,932
0.2420 $ 0.0330 0.0050 0.1730 0.0050 0.0450 0.0240 0.0230 0.0040 0.0030 0.0000 0.1050
172,254 23,489 3,559 123,140 3,559 32,031 17,083 16,371 2,847 2,135 74,738
$
2,769,723 374,066 52,357 2,042,966 40,800 463,916 271,347 250,088 37,519 22,681 1,255,670
0.2049 $ 2,498,015 0.0290 352,969 0.0036 44,120 0.1541 1,878,713 0.0036 44,120 0.0299 364,468 0.0228 277,536 0.0248 301,732 0.0008 9,962 0.0009 11,386 0.0961 1,171,468
0.2220 $ 0.0300 0.0050 0.1600 0.0050 0.0330 0.0260 0.0270 0.0030 0.0020 0.0000 0.0990
165,766 22,401 3,733 119,471 3,733 24,641 19,414 20,161 2,240 1,493 73,923
$
2,663,781 375,370 47,853 1,998,184 47,853 389,109 296,950 321,893 12,202 12,879 1,245,391
TOTAL TAX EXTENSIONS
0.6539 $ 7,109,927
0.6620 $
471,206
$
7,581,133
0.5705 $ 6,954,489
0.6120 $
456,976
$
7,411,465
UNCOLLECTIBLE PROVISION
3%
0%
3%
- 101 -
0%
2017 Cook $
945,227,734 Rate
2016
Lake $
Amount
Total
70,467,333 Rate
$
Amount
1,015,695,067 Amount
Cook $
Lake 931,699,465
Rate
Amount
$
Total 69,813,603
Rate
$
Amount
1,001,513,068 Amount
0.2920 $ 2,759,772 0.0388 366,407 0.0050 46,889 0.2425 2,292,225 0.0053 50,272 0.0397 375,554 0.0343 323,869 0.0411 388,643 0.0043 40,991 0.0008 7,734 0.0000 0.1380 1,304,334
0.2846 $ 0.0007 0.0040 0.0355 0.0045 0.0376 0.2219 0.0049 0.0314 0.0415 0.0000 0.1251
200,357 24,976 3,196 156,240 3,427 29,227 22,076 26,491 2,795 527 88,084
$
2,960,129 391,383 50,085 2,448,465 53,699 404,781 345,945 415,134 43,786 8,261 1,392,418
0.2845 $ 2,651,088 0.0403 375,800 0.0037 34,935 0.2416 2,251,030 0.0043 39,657 0.0358 333,904 0.0375 349,363 0.0397 370,135 0.0035 33,047 0.0009 8,498 0.0000 0.1367 1,273,677
0.2884 $ 0.0384 0.0034 0.2298 0.0041 0.0341 0.0357 0.0378 0.0034 0.0001 0.0000 0.1288
201,327 26,789 2,406 160,463 2,828 23,789 24,905 26,385 2,356 82 89,954
$
2,852,415 402,589 37,341 2,411,493 42,485 357,693 374,268 396,520 35,403 8,580 1,363,631
0.8418 $ 7,956,690
0.7917 $
557,396
$
8,514,086
0.8285 $ 7,721,134
0.8040 $
561,284
$
8,282,418
3%
0%
$
1,057,310,588
3%
0%
2013 Cook $
826,562,136 Rate
Amount
2012
Lake $
Total
65,859,760 Rate
$
Amount
892,421,896 Amount
Cook
Lake
$ 990,209,811 Rate
Total
$ 67,100,777 Amount
Rate
Amount
Amount
0.3136 $ 2,592,214 0.0460 380,329 0.0050 41,591 0.2530 2,091,353 0.0081 66,901 0.0403 332,731 0.0407 336,339 0.0383 316,177 0.0040 32,992 0.0001 917 0.0000 0.1496 1,236,905
0.2840 $ 0.0410 0.0060 0.2220 0.0080 0.0390 0.0370 0.0340 0.0050 0.0020 0.0000 0.1290
187,042 27,002 3,952 146,209 5,269 25,685 24,368 22,392 3,293 1,317 84,959
$
2,779,256 407,331 45,543 2,237,562 72,170 358,416 360,707 338,569 36,285 2,234 1,321,864
0.2615 $ 2,589,529 0.0350 346,090 0.0023 22,328 0.1984 1,964,898 0.0048 48,005 0.0399 394,757 0.0355 351,672 0.0316 312,597 0.0051 50,239 0.0001 1,116 0.0000 0.1230 1,217,926
0.3110 $ 0.0410 0.0050 0.2270 0.0060 0.0470 0.0400 0.0370 0.0070 0.0020 0.0000 0.1400
208,684 27,511 3,355 152,319 4,026 31,538 26,840 24,827 4,697 1,342 93,941
$
2,798,213 373,601 25,683 2,117,217 52,031 426,295 378,512 337,424 54,936 2,458 1,311,867
0.8987 $ 7,428,449
0.8070 $
531,488
$
7,959,937
0.7372 $ 7,299,157
0.8630 $
579,080
$
7,878,237
3%
0%
3%
0%
- 102 -
WHEELING PARK DISTRICT WHEELING, ILLINOIS PROPERTY TAX RATES - DIRECT AND OVERLAPPING GOVERNMENTS (Per $100 of assessed value) Last Ten Levy Years
Jurisdiction
2010
2011
2012
2013
2014
2015
2016
2017
2018*
2019*
Park District
0.571
0.654
0.738
0.899
0.890
0.924
0.829
0.842
0.880
0.777
Cook County including Forest Preserve
0.474
0.520
0.594
0.629
0.637
0.621
0.596
0.558
0.549
0.513
Metropolitan Water Reclamation District
0.274
0.320
0.370
0.417
0.430
0.426
0.406
0.406
0.396
0.389
Schools (Districts #21, #214 and #512)
5.792
6.565
7.253
8.053
8.657
8.989
7.909
8.01
8.388
7.45
Village
0.892
1.004
1.138
1.424
1.517
1.729
1.613
1.666
1.752
1.561
All others
0.418
0.500
0.551
0.633
0.623
0.664
0.549
0.585
0.572
0.547
TOTAL TAX RATES
8.421
9.563
10.644
12.055
12.754
13.353
11.902
12.067
12.537
11.237
* Most recent data available.
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WHEELING PARK DISTRICT WHEELING, ILLINOIS PRINCIPAL PROPERTY TAXPAYERS Current Year and Nine Years Ago
2020
2011 Percentage of Total District Taxable Assessed Valuation
Taxable Assessed Value
Rank
$ 23,942,153
1
2.02% $ 19,168,911
1
1.48%
Riverwalk, LLC
21,969,704
2
1.85%
11,491,526
7
0.89%
Chevy Chase Illinois, LLC
21,279,479
3
1.80%
15,423,607
4
1.19%
Chase Business Park
18,060,648
4
1.52%
16,381,837
3
1.27%
Walmart Stores
12,298,553
5
1.04%
18,385,716
2
1.42%
Arlington Apartments LTD Partnership 11,861,175
6
1.00%
Briarwood Lakes LP
11,194,434
7
0.95%
10,403,217
10
0.80%
Mallard Lake Apartment
11,026,489
8
0.93%
10,689,136
9
0.83%
Azure Partners LLC
10,637,296
9
0.90%
Wieland Properties, Inc
11,194,434
10
0.95%
Allstate Insurance Company
15,188,184
5
1.17%
Hamilton Partners Inc.
12,278,012
6
0.95%
Capstone Realty Advisors
11,090,303
8
0.86%
Taxpayer Wheeling Hotel Owner
$ 153,464,365
Taxable Assessed Value
Percentage of Total District Taxable Assessed Valuation
12.96% $ 140,500,449
Rank
10.86%
Note: Every effort has been made to seek out and report the largest taxpayers. However, many of the taxpayers hold multiple parcels, and it is possible that some parcels and their valuations have been overlooked. Data Source Office of the County Clerk
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WHEELING PARK DISTRICT WHEELING, ILLINOIS PROPERTY TAX LEVIES AND COLLECTIONS Last Ten Levy Years
Levy Year 2010
Collected within the Fiscal Year of the Levy Percentage Amount of Levy
Tax Levied $
7,411,466
$
Collections in Subsequent Years Amount
Total Collections to Date Percentage Amount of Levy
7,197,295
97.11% $
(14,838) $
7,182,457
96.91%
2011
7,581,133
7,352,600
96.99%
(48,311)
7,304,289
96.35%
2012
7,878,237
7,627,196
96.81%
(34,253)
7,592,943
96.38%
2013
7,959,937
7,733,374
97.15%
(6,156)
7,727,218
97.08%
2014
8,084,972
7,931,845
98.11%
(100,798)
7,831,047
96.86%
2015
8,246,276
8,114,268
98.40%
(97,688)
8,016,580
97.21%
2016
8,282,419
8,171,500
98.66%
(73,552)
8,097,948
97.77%
2017
8,514,087
8,349,468
98.07%
(14,241)
8,335,227
97.90%
2018
8,724,643
8,507,175
97.51%
44,986
8,552,161
98.02%
2019
9,122,838
8,896,057
97.51%
8,896,057
97.51%
N/A - Not available Data Source Office of the County Clerk
- 105 -
N/A
WHEELING PARK DISTRICT WHEELING, ILLINOIS RATIOS OF OUTSTANDING DEBT BY TYPE Last Ten Fiscal Years
Fiscal Year Ended 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Governmental Activities Installment General Contracts/ Obligation Certificates Capital Bonds Payable Leases $ 12,180,000 11,150,000 10,279,378 9,462,101 7,800,306 8,300,928 7,911,550 11,092,327 10,525,130 10,603,652
$
-
$
-
Business-Type Activities Installment General Contracts/ Obligation Certificates Capital Bonds Payable Leases $
3,569,361 3,240,903 2,905,426 2,563,028 2,218,805 1,867,811 1,510,150
$
190,000 -
-
Total Primary Government $ 12,370,000 11,150,000 10,279,378 13,031,462 11,041,209 11,206,354 10,474,578 13,311,132 12,392,941 12,113,802
Percentage of Personal Income* 1.22% 1.10% 1.01% 1.29% 1.09% 0.93% 0.84% 1.12% 0.99% 0.97%
*See the schedule of Demographic and Economic Information on page 105 for personal income and population data. Note: Details of the District's outstanding debt can be found in the notes to financial statements. Personal income is the largest sole source income type, usually either property or sales tax. In the case of special districts, it may be fees.
- 106 -
Per Capita* 360.80 328.57 273.04 346.14 293.27 261.83 244.73 325.96 289.55 283.03
WHEELING PARK DISTRICT WHEELING, ILLINOIS RATIOS OF NET GENERAL BONDED DEBT OUTSTANDING Last Ten Fiscal Years
General Obligation Bonds
Fiscal Year 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
$
12,180,000 11,150,000 10,200,000 12,770,000 10,820,000 11,020,000 10,320,000 12,995,000 12,115,000 11,143,000
Less Amounts Available In Debt Service Fund $
231,338 174,989 101,894 112,312 143,275 126,485 119,195 93,119 702,588
Total $
11,948,662 10,975,011 10,098,106 12,657,688 10,820,000 10,876,725 10,193,515 12,875,805 12,021,881 10,440,412
Percentage of Actual Taxable Value of Property* 0.31% 0.32% 0.32% 0.47% 0.39% 0.41% 0.34% 0.42% 0.40% 0.29%
Per Capita $
317.38 291.52 268.22 336.21 287.40 254.13 238.17 300.84 280.89 243.93
See the schedule of Assessed Value and Actual Value of Taxable Property on page 94 for property value data. Note: Details of the District's outstanding debt can be found in the notes to financial statements.
- 107 -
WHEELING PARK DISTRICT WHEELING, ILLINOIS DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT December 31, 2020
Gross Debt
Governmental Unit Wheeling Park District (1)
9,668,000
100.00%
Cook County Lake County Cook County Forest Preserve Lake County Forest Preserve Metropolitan Water Reclamation District Village of Wheeling Village of Buffalo Grove City of Prospect Heights School District #21 School District #23 School District #102 School District #125 School District #214 Community College District #512 Community College District #532
2,658,926,750 147,785,000 123,150,000 222,645,000 2,680,703,000 38,375,000 34,560,245 6,690,000 88,265,000 7,840,000 24,710,000 41,065,000 27,650,000 250,435,000 47,300,000
0.66% 0.30% 0.66% 0.30% 0.67% 92.96% 4.86% 13.66% 49.17% 12.15% 8.14% 2.20% 11.01% 5.13% 0.32%
TOTAL OVERLAPPING DEBT
6,400,099,995
TOTAL DIRECT AND OVERLAPPING DEBT
$
Percentage of Debt Applicable to the District (1)
$
6,409,767,995
District's Share of Debt $
9,668,000 17,548,917 444,833 812,790 670,161 18,014,324 35,674,551 1,680,319 913,586 43,402,548 952,638 2,010,900 902,198 3,045,095 12,857,333 149,468 139,079,661
$
148,747,661
(1) Includes General Obligation Bonds of the District. Note: Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the District. This schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses of the District. This process recognizes that, when considering the government's ability to issue and repay long-term debt, the entire debt burden borne by the residents and businesses 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. The percentage of overlapping debt applicable is estimated using taxable assessed property values. Applicable percentages were estimated by determining the portion of the District's taxable assessed value that is within the government's boundaries and dividing it by the District's total taxable assessed value. Data Sources Cook County Clerk's Office, Lake County Clerk's Office or Local Government Entity
- 108 -
WHEELING PARK DISTRICT WHEELING, ILLINOIS LEGAL DEBT MARGIN INFORMATION Last Ten Fiscal Years
Fiscal Year Total net debt applicable to limit Legal debt margin Total net debt applicable to the limit as a percentage of debt limit
2011 $
3,570,000
70,813,822
4.80%
2012 $
2,715,000
63,883,865
4.08%
2013 $
2,135,000
58,660,359
3.51%
2014 $
2015
1,700,000
$
49,614,259
1,300,000
51,419,889
3.31%
2.47%
2016 $
1,315,000
2017 $
1,325,000
2018 $
1,350,000
2019 $
1,375,000
2020 $
1,418,000
49,966,122
56,262,001
57,052,466
56,317,571
66,688,761
2.56%
2.30%
2.31%
2.38%
2.08%
Legal debt margin calculation for fiscal year 2018 Assessed value
$ 1,184,465,400
Legal debt margin
5.75%
Debt limit
68,106,761
Debt applicable to limit General Obligation Limited Tax Park Bonds of 2019
1,418,000
Total debt LEGAL DEBT MARGIN
- 109 -
1,418,000 $
66,688,761
WHEELING PARK DISTRICT WHEELING, ILLINOIS DEMOGRAPHIC AND ECONOMIC INFORMATION Last Ten Fiscal Years
Fiscal Year 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Population 37,648 37,648 37,648 37,648 37,648 42,800 42,800 42,800 42,800 42,800
Per Capita Personal Income
Personal Income $ 1,013,446,512 1,013,446,512 1,013,446,512 1,013,446,512 1,013,446,512 1,199,726,800 1,246,550,000 1,246,550,000 1,246,550,000 1,246,550,000
$
Data Sources U.S. Census Bureau, Illinois Department of Employment Security For 2016-2019, private consultant
- 110 -
26,919 26,919 26,919 26,919 26,919 28,031 29,125 29,125 29,125 29,125
Unemployment Rate 8.10% 7.30% 7.50% 5.90% 4.70% 4.80% 3.90% 3.20% 2.90% 8.20%
WHEELING PARK DISTRICT WHEELING, ILLINOIS PRINCIPAL EMPLOYERS Current Year and Nine Years Ago
Rank
2020 Number of Employees
Rank
2009 Number of Employees
SG360
1
576
1.35%
Durable Packaging International
2
500
1.17%
4
500
1.33%
Richelieu Foods, Inc.
3
330
0.77%
Reynolds Consumer Products
4
304
0.71%
Argon Medical Devices
5
280
0.65%
Viant
6
268
0.63%
Block & Company
7
250
0.58%
Hidden Valley Manufacturing Co.
8
202
0.47%
Greek American Rehabilitaion & Care Center
9
184
0.43%
Walmart Supercenter
10
166
0.39%
National Louis Univeristy
1
700
1.86%
Handi-Foil
2
500
1.33%
Shure, Inc.
3
500
1.33%
Hospital Laundry Services
5
500
1.33%
The Segardahl Corp.
6
400
1.06%
Pactiv Corp
7
350
0.93%
Allstate Printing/Dist. Ctr
8
320
0.85%
Bowe Bell & Howell
9
300
0.80%
Valspar Corp.
10
278
0.74%
Employer
Total Population
% of Total District Population
42,800
Data Source Information is from the Village of Wheeling
- 111 -
% of Total District Population
37,648
WHEELING PARK DISTRICT WHEELING, ILLINOIS FULL-TIME EQUIVALENT EMPLOYEES Last Ten Fiscal Years
Function/Program GENERAL GOVERNMENT Administration Finance Planning Community development Total Parks and recreation Chevy Chase Country Club TOTAL
2011
2012
2013
2014
4.33 1.80 1.28 0.34
4.43 1.81 1.11 0.31
4.39 1.29 0.99 0.51
4.05 1.25 1.00 0.55
7.75
7.66
7.18
6.85
72.17 45.70
76.38 40.99
76.45 40.74
125.62
125.03
124.37
2015
2017
2018
2019
2020
4.61 1.02 1.03 1.20
6.60 0.89 0.81 1.17
6.23 0.82 1.00 1.13
6.54 0.76 1.00 0.77
4.88 0.87 0.25 0.29
7.29
7.86
9.47
9.18
9.07
6.29
78.49 39.50
80.90 41.60
77.04 43.63
81.18 42.80
80.85 44.86
84.58 46.07
53.75 25.82
124.84
129.79
128.53
133.45
134.89
139.72
Data Source District finance office
- 112 -
4.35 1.24 1.02 0.68
2016
85.86
WHEELING PARK DISTRICT WHEELING, ILLINOIS OPERATING INDICATORS Last Ten Fiscal Years
Function/Program
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
PARKS AND RECREATION Fitness Center members Aquatic Center members Program participants Facility rentals Fitness Center usage Aquatic usage
975 4,732 27,527 1,089 72,728 91,854
1,096 5,014 31,644 870 75,253 96,470
1,123 4,548 40,934 727 80,435 87,096
947 4,139 43,280 1,380 73,719 80,493
858 2,407 46,038 1,435 66,522 74,607
883 2,831 44,747 1,667 58,185 75,082
1,127 2,689 52,639 1,897 72,420 75,250
1,092 2,422 46,422 1,843 65,651 76,910
1,969 2,341 49,160 2,469 90,516 75,056
1,709 119 6,814 5,891 67,189 4,625
CHEVY CHASE COUNTY CLUB Rounds played Number of food and beverage events Number of guests served
32,214 443 45,696
34,965 474 46,963
34,231 456 49,117
29,400 477 50,690
31,791 454 49,500
30,689 496 54,536
15,825 423 54,545
28,006 516 65,364
25,106 492 64,544
40,186 96 8,370
Data Source Various District departments
- 113 -
WHEELING PARK DISTRICT WHEELING, ILLINOIS CAPITAL ASSET STATISTICS Last Ten Fiscal Years
Function/Program PARKS AND FACILITIES Parks/Natural areas Number Acres Facilities Play equipment Swimming facilities Recreation centers Outdoor skating 18 hole golf course 9 hole golf course Football fields Ball diamonds Soccer fields Outdoor pickleball courts Outdoor tennis courts Picnic areas Walking, jogging and bike trails Volleyball courts Basketball courts Shelters
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
11 167.3
11 167.3
11 167.3
11 167.3
11 167.3
11 167.3
11 167.3
11 167.3
11 167.3
11 167.3
11 2 1 2 1 0 1 11 6 0 2 9 6 9 11 7
10 2 1 2 1 0 0 8 5 0 0 8 5 9 9 6
10 2 1 1 1 0 0 8 5 0 0 8 5 9 9 6
10 2 1 3 1 0 0 12 6
10 2 1 3 1 0 0 12 6 1 0 8 5 9 9 6
10 2 1 2 1 0 1 9 11 1 0 8 6 9 6 6
10 2 1 2 1 0 1 9 11 1 0 8 6 9 6 6
10 2 1 2 1 0 1 9 11 1 0 8 6 9 6 6
11 2 1 2 1 0 1 9 11 1 0 8 6 9 6 6
11 2 1 2 1 1 1 9 11 1 0 8 6 9 6 6
0 0 8 5 9 9 6
Data Source Various District departments
- 114 -