________________________________ CITY OF CHICAGO COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 2008 Richard M. Daley, Mayor Gene R. Saffold, Chief Financial Officer Steven J. Lux, City Comptroller ________________________________ ________________________________ CITY OF CHICAGO COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED DECEMBER 31, 2008 Richard M. Daley, Mayor Gene R. Saffold, Chief Financial Officer Steven J. Lux, City Comptroller ________________________________ CITY OF CHICAGO THE CITY COUNCIL As of December 31, 2008 RICHARD M. DALEY, Mayor 1st Ward ......................................................................................................................................... MANUEL FLORES 2nd Ward ....................................................................................................................................... ROBERT FIORETTI 3rd Ward ................................................................................................................................................ PAT DOWELL 4th Ward .................................................................................................................................... TONI PRECKWINKLE 5th Ward ................................................................................................................................... LESLIE A. HAIRSTON 6th Ward ................................................................................................................................ FREDDRENNA M. LYLE 7th Ward .......................................................................................................................................... SANDI JACKSON 8th Ward .................................................................................................................................. MICHELLE A. HARRIS 9th Ward ......................................................................................................................................... ANTHONY BEALE 10th Ward .............................................................................................................................................. JOHN A. POPE 11th Ward ........................................................................................................................................ JAMES A. BALCER 12th Ward .............................................................................................................................. GEORGE A. CARDENAS 13th Ward ........................................................................................................................................... FRANK J. OLIVO 14th Ward ..................................................................................................................................... EDWARD M. BURKE 15th Ward ............................................................................................................................................. TONI FOULKES 16th Ward ..................................................................................................................................... JOANN THOMPSON 17th Ward .................................................................................................................................. LATASHA R. THOMAS 18th Ward ................................................................................................................................................... LONA LANE 19th Ward ....................................................................................................................................... VIRGINIA A. RUGAI 20th Ward ........................................................................................................................................ WILLIE COCHRAN 21st Ward ........................................................................................................................... HOWARD BROOKINS, JR. 22nd Ward ......................................................................................................................................... RICARDO MUÑOZ 23rd Ward ................................................................................................................................ MICHAEL R. ZALEWSKI 24th Ward ............................................................................................................................. SHARON DENISE DIXON 25th Ward .......................................................................................................................................... DANIEL S. SOLIS 26th Ward ............................................................................................................................................... BILLY OCASIO 27th Ward ............................................................................................................................... WALTER BURNETT, JR. 28th Ward .................................................................................................................................................. ED H. SMITH 29th Ward ................................................................................................................................. ISAAC S. CAROTHERS 30th Ward .................................................................................................................................... ARIEL E. REBOYRAS 31st Ward .............................................................................................................................. REGNER “RAY” SUAREZ 32nd Ward ................................................................................................................................ SCOTT WAGUESPACK 33rd Ward ........................................................................................................................................ RICHARD F. MELL 34th Ward ....................................................................................................................................... CARRIE M. AUSTIN 35th Ward .................................................................................................................................................. REY COLON 36th Ward .................................................................................................................................... WILLIAM J.P. BANKS 37th Ward ................................................................................................................................................. EMMA MITTS 38th Ward ....................................................................................................................................... THOMAS R. ALLEN 39th Ward .................................................................................................................................. MARGARET LAURINO 40th Ward ............................................................................................................................... PATRICK J. O’CONNOR 41st Ward ..................................................................................................................................... BRIAN G. DOHERTY 42nd Ward ........................................................................................................................................ BRENDAN REILLY 43rd Ward ....................................................................................................................................................... VI DALEY 44th Ward ................................................................................................................................... THOMAS M. TUNNEY 45th Ward ....................................................................................................................................... PATRICK J. LEVAR 46th Ward ........................................................................................................................................... HELEN SHILLER 47th Ward ............................................................................................................................... EUGENE C. SCHULTER 48th Ward ........................................................................................................................................ MARY ANN SMITH 49th Ward ...................................................................................................................................... JOSEPH A. MOORE 50th Ward .................................................................................................................................... BERNARD L. STONE 2008 COMPREHENSIVE ANNUAL FINANCIAL REPORT OF THE CITY OF CHICAGO Table of Contents PART I – INTRODUCTORY SECTION PART III - STATISTICAL SECTION (Unaudited) Letter of Transmittal ............................................................................. 7 Table 1 Net Assets by Component, Certificate of Achievement for Excellence in Last Seven Years .................................................. 120 Financial Reporting ...................................................................... 11 Table 2 Changes in Net Assets - Accrual Basis of Accounting, Organization Chart ............................................................................. 12 Last Seven Years .................................................. 121 Table 3 General Governmental Revenues by Source, PART II - FINANCIAL SECTION Last Ten Years ...................................................... 124 Table 4 General Governmental Expenditures by Function,