WHEATON PARK DISTRICT Wheaton, Illinois Comprehensive Annual Financial Report for the Fiscal Period Ended December 31, 2016
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WHEATON PARK DISTRICT Wheaton, Illinois Comprehensive Annual Financial Report For the Fiscal Period Ended December 31, 2016 Discover. PLAY. Create. WHEATON PARK DISTRICT WHEATON, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED DECEMBER 31, 2016 Prepared by Rita A. Trainor Finance Director Andrea Chiappetta Assistant Finance Director WHEATON PARK DISTRICT WHEATON, ILLINOIS TABLE OF CONTENTS PAGE INTRODUCTORY SECTION Principal Officials ........................................................................................................................................ i Organizational Chart ................................................................................................................................... ii Letter of Transmittal ........................................................................................................................... iii - vii Certificate of Achievement for Excellence in Financial Reporting ......................................................... viii FINANCIAL SECTION INDEPENDENT AUDITORS' REPORT ......................................................................................... 1 - 2 MANAGEMENT’S DISCUSSION AND ANALYSIS ...................................................... MD&A 1 - 11 BASIC FINANCIAL STATEMENTS Government-Wide Financial Statements Statement of Net Position ................................................................................................................ 3 - 4 Statement of Activities ..................................................................................................................... 5 - 6 Fund Financial Statements Balance Sheet – Governmental Funds ............................................................................................. 7 - 8 Reconciliation of Total Governmental Fund Balance to the Statement of Net Position – Governmental Activities .....................................................................9 Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds .. 10 - 11 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances to the Statement of Activities – Governmental Activities.....................................12 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual General Fund ..................................................................................................................................13 Recreation – Special Revenue Fund ..............................................................................................14 Cosley Zoo – Special Revenue Fund .............................................................................................15 Statement of Net Position – Proprietary Funds............................................................................ 16 - 17 Statement of Revenues, Expenses and Changes in Net Position – Proprietary Funds ........................18 Statement of Cash Flows – Proprietary Funds .....................................................................................19 Statement of Fiduciary Net Position – Agency Fund ..........................................................................20 Notes to Financial Statements ............................................................................................................ 21 - 58 REQUIRED SUPPLEMENTARY INFORMATION Schedule of Employer Contributions Illinois Municipal Retirement Fund .....................................................................................................59 Schedule of Changes in the Employer’s Net Pension Liability Illinois Municipal Retirement Fund .....................................................................................................60 WHEATON PARK DISTRICT WHEATON, ILLINOIS TABLE OF CONTENTS PAGE FINANCIAL SECTION – Continued COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES Schedule of Revenues – Budget and Actual – General Fund ....................................................................61 Schedule of Expenditures – Budget and Actual – General Fund....................................................... 62 - 66 Schedule of Revenues – Budget and Actual – Recreation – Special Revenue Fund .................................67 Schedule of Expenditures – Budget and Actual – Recreation – Special Revenue Fund ................... 68 - 71 Schedule of Revenues – Budget and Actual – Cosley Zoo – Special Revenue Fund ...............................72 Schedule of Expenditures – Budget and Actual – Cosley Zoo – Special Revenue Fund .................. 73 - 75 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Debt Service Fund................................................................................................................................76 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Capital Projects Fund ...........................................................................................................................77 Schedule of Expenditures – Budget and Actual – Recreation – Capital Projects Fund .................... 78 - 79 Combining Balance Sheet – Nonmajor Governmental – Special Revenue Funds ............................ 80 - 81 Combining of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual Nonmajor Governmental – Special Revenue Funds .................................................................... 82 - 83 Schedule of Revenues, Expenditures and Changes in Fund Balance – Budget and Actual IMRF – Special Revenue Fund ............................................................................................................84 Liability Insurance – Special Revenue Fund .......................................................................................85 Audit – Special Revenue Fund ............................................................................................................86 FICA – Special Revenue Fund ............................................................................................................87 Special Recreation – Special Revenue Fund .......................................................................................88 Schedule of Revenues, Expenses and Changes in Fund Net Position – Budget and Actual Golf Course – Enterprise Fund ............................................................................................................89 Schedule of Operating Revenues – Budget and Actual – Golf Course – Enterprise Fund ........................90 Schedule of Operating Expenses – Budget and Actual – Golf Course – Enterprise Fund ................ 91 - 96 Combining Statement of Net Position – Internal Service Funds ...............................................................97 Combining of Revenues, Expenses and Changes in Net Position – Internal Service Funds .....................98 Combining of Cash Flows – Internal Service Funds .................................................................................99 Schedule of Revenues, Expenses and Changes in Net Position – Budget and Actual Information Technology – Internal Service Fund ..............................................................................100 Schedule of Revenues, Expenses and Changes in Net Position – Budget and Actual Health Insurance – Internal Service Fund ..........................................................................................101 Schedule of Changes in Assets and Liabilities – Employee Relief – Agency Fund................................102 WHEATON PARK DISTRICT WHEATON, ILLINOIS TABLE OF CONTENTS PAGE FINANCIAL SECTION – Continued SUPPLEMENTAL SCHEDULES Long-Term Debt Requirements General Obligation Refunding Park Bonds of 2005 ..........................................................................103 General Obligation Taxable Park (Alternate Revenue Source) Bonds of 2010 ................................104 General Obligation Refunding Park Bonds of 2015A .......................................................................105 General Obligation Refunding Park Bonds of 2015B .......................................................................106 General Obligation Limited Tax Refunding Park Bonds of 2015C ..................................................107 General Obligation Limited Tax Refunding Park Bonds of 2015D ..................................................108 General Obligation Limited Tax Park Bonds of 2016 .......................................................................109 STATISTICAL SECTION (Unaudited) Net Position by Component – Last Ten Fiscal Years .................................................................... 110 - 111 Changes in Net Position – Last Ten Fiscal Years .......................................................................... 112 - 113 Changes in Fund Balances for Governmental Funds – Last Ten Fiscal Years .............................. 114 - 115 Fund Balances of Governmental Funds – Last Ten Fiscal Years .................................................. 116 - 117 Assessed Value and Actual Value of Taxable Property – Last Ten Fiscal Years ......................... 118 - 119 Direct and Overlapping Property Tax Rates – Last Ten Fiscal Years ........................................... 120 - 121 Principal Property Tax Payers – Current Fiscal Year and Nine Fiscal Years Ago..................................122 Property Tax Levies and Collections – Last Ten Fiscal Years ................................................................123