Chicago, Illinois
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Chicago, Illinois Comprehensive Annual Financial Report For the Year Ended December 31, 2017 Prepared by the Chief Financial Officer and the Office of the Comptroller Rahm Emanuel, Mayor, City of Chicago Jesse H. Ruiz, President of the Board of Commissioners Michael P. Kelly, General Superintendent and Chief Executive Officer Steve Lux, Chief Financial Officer Cecilia Prado, CPA,iii Comptroller CHICAGO PARK DISTRICT CHICAGO, ILLINOIS Comprehensive Annual Financial Report For the year ended December 31, 2017 Prepared by the Chief Financial Officer and the Office of the Comptroller Rahm Emanuel, Mayor, City of Chicago Jesse Ruiz, President of the Board of Commissioners Michael P. Kelly, General Superintendent and Chief Executive Officer Steve Lux, Chief Financial Officer Cecilia Prado, CPA, Comptroller Dear Colleagues and Friends: The Chicago Park District celebrated several significant milestones in 2017. First and fore- most, the Park District successfully expanded its reach into Chicago’s neighborhoods by increasing the number of public green space to over 600 parks and 320 acres of additional nature areas. Over 99% of Chicago residents live within a 10 minute walk of a park. Administration Office As the park system grows, careful attention is invested in maintaining historic infrastruc- 541 North Fairbanks Chicago, Illinois 60611 ture that distinguishes our park system from others. The Chicago Park District along with t (312) 742-PLAY (7529) other partners completed and started several new major capital projects in 2017. The (312) 747-2001 TTY www.chicagoparkdistrict.com iconic lakefront cultural space Theater on the Lake was completely renovated into a year round, multipurpose special event space. Board of Commissioners Jesse H. Ruiz President From movies and dance to theater and storytelling, the 2017 Night Out in the Parks free event series included more than 1,000 cultural events and activities at parks across the 77 Avis LaVelle community areas, and in all 50 wards. Vice President Partnerships with groups like the Chicago Blackhawks continue to support our efforts to bring valuable recreational opportunities to neighborhood parks. The Chicago Blackhawks helped build a new hockey roller court at Kennedy Park. A generous donation from Mr. Erika R. Allen Donald J. Edwards Kenneth Griffin funded the separation of the 18-mile Lakefront Trail which is slated to be Tim King complete in 2018. M. Laird Koldyke Juan Salgado Programmatic achievements were equally as significant. The 2017 winter session set a General Superintendent record with over 90,200 enrollees followed by a spring session record that exceeded & CEO Michael P. Kelly 105,000 enrollees. For the first time in the history of our summer camp, every available slot was filled. Our “Heroes” themed summer camp was made possible by the heroic effort from our community recreation staff. The Chicago Park District recorded approximately 415,000 enrollments in park programs in 2017, and another 354,000 patrons participated in sports leagues and other recreational activities at Park District facilities. The direct enrollments represent an increase of approx- City of Chicago imately 15,000 individuals or four percent. Rahm Emanuel Mayor In an effort to reach communities in need of additional opportunities to play, the Park Dis- trict revamped the Rolling Recreation program to provide recreational experiences for 10,000 park patrons at more than 70 parks during the summer. The vans were equipped with gymnastic, wellness and athletic program equipment. Page ii The new elementary school sports program, SCORE!, kicked off its inaugural season with over 26,000 partici- pants playing basketball, volleyball, soccer, cross country, wrestling and track and field. The Chicago Park District continues to be the largest employer of youth in the State of Illinois, offering thousands of seasonal jobs and leadership opportunities such as recreation leaders, laborers and lifeguards. These posi- tions are essential to our summer operations, from keeping the parks clean and the grass mowed to serving over 40,000 youth in our summer day camp program. The Nike Summer Swoosh Academy assisted in the training of our recreation leaders as well as generously donating shirts for summer staff. Soldier Field had another great year and hosted numerous cultural and sporting events including concerts, the Warrior Games, the MLS All-Star game, high school and college football and numerous runs. Sold out concerts included U2 and Metallica. We ended 2017 with positive operations in the general fund because of expenditures being less than budgeted due to strong controls and timing of certain revenues. Due to these results, we were able to increase our re- serves for future pension obligations. We continue to work hard to improve our efficiency and increase non-tax revenue to maintain our public green spaces and expand park initiatives that enhance recreation and cultural opportunities for Chicago residents of all interests and ages. Sincerely, Michael P. Kelly Jesse H. Ruiz General Superintendent & CEO Board President Chicago Park District Chicago Park District Page iii Page iv CHICAGO PARK DISTRICT 2017 COMPRHENSIVE ANNUAL FINANCIAL REPORT TABLE OF CONTENTS I. INTRODUCTORY SECTION (Unaudited) Letter of Transmittal ......................................................................................................................... 3 Certificate of Achievement for Excellence in Financial Reporting ................................................... 11 Principal Officials ............................................................................................................................ 12 Board of Commissioners’ Profiles ................................................................................................... 13 Organizational Chart....................................................................................................................... 14 II. FINANCIAL SECTION Independent Auditor’s Report ......................................................................................................... 16 Management’s Discussion and Analysis (Unaudited) ..................................................................... 18 Basic Financial Statements Government-wide Financial Statements: Statement of Net Position .................................................................................................... 34 Statement of Activities ......................................................................................................... 35 Fund Financial Statements: Balance Sheet – Governmental Funds ................................................................................ 36 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position .................................................................................................................... 39 Statement of Revenues, Expenditures, and Changes in Fund Balances- Governmental Funds ...................................................................................................... 40 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the Statement of Activities ............................................. 42 Fiduciary (Pension) Fund Financial Statements: Statement of Fiduciary Net Position ..................................................................................... 43 Statement of Changes in Fiduciary Net Position .................................................................. 44 Notes to Basic Financial Statements ......................................................................................... 45 Required Supplementary Information (Unaudited) Schedules of Revenues and Expenditures – Budget and Actual: General Operating Fund ...................................................................................................... 87 Federal, State, and Local Grants Fund ................................................................................ 88 Notes to Budgetary Comparison Schedules ........................................................................ 89 Schedule of Changes in Net Pension Liability and Related Ratios ............................................. 90 Schedule of Employer Contributions .......................................................................................... 91 Schedule of Funding Progress - Healthcare Plan ...................................................................... 92 Combining Fund Statements and Schedules Nonmajor Governmental Funds: Description of Nonmajor Governmental Funds .................................................................... 93 Combining Balance Sheet ................................................................................................... 94 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances ............ 95 Schedules of Revenues and Expenditures-Budget and Actual (Budgetary Basis) ............... 96 CHICAGO PARK DISTRICT 2017 COMPRHENSIVE ANNUAL FINANCIAL REPORT TABLE OF CONTENTS III. STATISTICAL SECTION (Unaudited) Financial Trends: Net Position By Component-Last Ten Fiscal Years ................................................................. 102 Changes in Net Position - Last Ten Fiscal Years ..................................................................... 104 Fund Balances of Governmental Funds-Last Ten Fiscal Years ............................................... 106 Changes in Fund Balances