Downers Grove Park Dist - COMPREHENSIVE …...Downers Grove Park District (the District) as of and for the year ended December 31, 2017 and the related notes to financial statements,

DOWNERS GROVE PARK DISTRICTDOWNERS GROVE, ILLINOIS

COMPREHENSIVE ANNUAL FINANCIAL

REPORT

FOR THE TWELVE MONTHS ENDEDDECEMBER 31, 2017

DOWNERS GROVE PARK DISTRICT

DOWNERS GROVE, ILLINOIS

COMPREHENSIVE ANNUAL

FINANCIAL REPORT

For the Year Ended

December 31, 2017

Prepared by:

Finance Department



TABLE OF CONTENTS

Page(s)

INTRODUCTORY SECTION

List of Principal Officials.............................................................................................. i

Organizational Structure .............................................................................................. ii

Certificate of Achievement for Excellence in Financial Reporting .............................. iii

Transmittal Letter.......................................................................................................... iv-xi

FINANCIAL SECTION

INDEPENDENT AUDITOR’S REPORT .................................................................... 1-3

GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS

Management’s Discussion and Analysis .................................................................. MD&A 1-12

Basic Financial Statements

Government-Wide Financial Statements

Statement of Net Position ............................................................................... 4

Statement of Activities ................................................................................... 5

Fund Financial Statements

Governmental Funds

Balance Sheet ............................................................................................. 6-7

Reconciliation of Fund Balances of Governmental Funds to

the Governmental Activities in the Statement of Net Position ................ 8

Statement of Revenues, Expenditures and Changes in Fund Balances ..... 9-10

Reconciliation of the Governmental Funds Statement of Revenues,

Expenditures and Changes in Fund Balances to the Governmental

Activities in the Statement of Activities .................................................. 11



TABLE OF CONTENTS

Page(s)

FINANCIAL SECTION (Continued)

GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS (Continued)

Basic Financial Statements (Continued)

Fund Financial Statements (Continued)

Proprietary Funds

Statement of Net Position .......................................................................... 12

Statement of Revenues, Expenses and Changes in Net Position ............... 13

Statement of Cash Flows ........................................................................... 14

Notes to Financial Statements ............................................................................. 15-38

Required Supplementary Information

Schedule of Revenues, Expenditures and Changes in

Fund Balance - Budget and Actual

General Fund .................................................................................................. 39

Recreation Fund .............................................................................................. 40

Schedule of Employer Contributions

Illinois Municipal Retirement Fund ............................................................... 41

Schedule of Changes in the Employer’s Net Pension Liability

and Related Ratios

Illinois Municipal Retirement Fund ................................................................... 42

Notes to Required Supplementary Information .................................................. 43-44

COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES MAJOR GOVERNMENTAL FUNDS Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Debt Service Fund .......................................................................................... 45 Capital Projects Fund ..................................................................................... 46



TABLE OF CONTENTS

Page(s)

FINANCIAL SECTION (Continued) COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES (Continued) NONMAJOR GOVERNMENTAL FUNDS Combining Balance Sheet ................................................................................... 47-48 Combining Statement of Revenues, Expenditures and Changes in Fund Balances .......................................................................... 49-50 Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual Museum Fund ................................................................................................. 51 Special Recreation Fund ................................................................................. 52 Illinois Municipal Retirement Fund ............................................................... 53 Audit Fund ...................................................................................................... 54 Social Security Fund ....................................................................................... 55 Liability Insurance Fund ................................................................................. 56 ENTERPRISE FUND

Schedule of Revenues, Expenses and Changes in Net Position - Budget and Actual Golf Course Fund ........................................................................................... 57 LONG-TERM DEBT REQUIREMENTS Taxable General Obligation Limited Tax Park Bonds of 2010........................... 58 General Obligation Refunding Park Bonds of 2013A ........................................ 59 General Obligation Refunding Park Bonds of 2015A ........................................ 60 General Obligation Limited Tax Park Bonds of 2015B ...................................... 61

STATISTICAL SECTION Financial Trends Net Position ............................................................................................................... 62-63 Change in Net Position ............................................................................................. 64-67 Fund Balances of Governmental Funds .................................................................... 68-69 Changes in Fund Balances of Governmental Funds ................................................. 70-71 Governmental Activities Tax Revenues by Source Accrual Basis of Accounting ................................................................................ 72 Modified Accrual Basis of Accounting ................................................................ 73



TABLE OF CONTENTS

Page(s)

STATISTICAL SECTION (Continued) Revenue Capacity Assessed Value and Estimated Actual Value of Taxable Property ........................... 74 Direct and Overlapping Property Tax Rates ............................................................. 75-76 Principal Property Taxpayers .................................................................................... 77 Property Tax Levies and Collections ........................................................................ 78 Statistical Comparison of Property Taxes Levied and Collected.............................. 79 Debt Capacity Ratios of Outstanding Debt by Type ......................................................................... 80 Ratios of General Bonded Debt Outstanding ............................................................ 81 Schedule of Direct and Overlapping Government Activities Debt ........................... 82 Pledged Revenue Coverage....................................................................................... 83 Schedule of Legal Debt Margin ................................................................................ 84 Demographic and Economic Information Demographic and Economic Statistics...................................................................... 85 Principal Employers .................................................................................................. 86 Full-Time Equivalent Government Employees by Function .................................... 87 Operating Information Operating Indicators by Function ............................................................................. 88 Capital Asset Statistics by Function .......................................................................... 89

INTRODUCTORY SECTION

- i -



List of Principal Officials

December 31, 2017

BOARD OF COMMISSIONERS

Robert J. Gelwicks, President

Tom Salaba, Vice President Catherine C. Mahoney, Treasurer

Frank Livorsi, Secretary Sandra McDonnell, Commissioner

ADMINISTRATIVE STAFF

Bill McAdam, Executive Director

Geoff Penman, Director of Operations and Development

Dave Haring, Director of Recreation

Sara Rathsack, Assistant Director of District Services

Erik Brown, Assistant Director of Financial Services

Manager of Marketing

& Creative

Development

Maintenance II (2)

A/P Supervisor

Accountant

Payroll and Benefits

SupervisorForester (1)

Ast. Golf Course

Superintendent

Parks Office Manager

Ast. Superintendent of

Parks

Landscape Architect

Horticulturist (1)

Maintenance I (1)

Bo

ard

of

Co

mm

issi

on

ers

Manager of Natural

Resocuces & Interpretive

Services

Golf Club Manager

Custodians (2) Fitness Operations

Supervisor

Office Supervisor Registration Specialists (3)

Athletic Supervisors

(2)

Office Supervisor

Recreation

Supervisors (2)

Custodians (2)

Naturalists/Specialists (3)

Executive Director

Marketing Specialist (1)

Recreation Center Manager

Recreation Manager

of Community Services

Lincoln Center Manager

Maintenance I (6)

Custodian (1)

Administrative Assistant (1)

Preschool Specialist (1)

Golf Course Superintendent

Superintendent of Parks

Executive Assistant

Assistant Director for

Financial Services

Recreation Specialist (2)

Registration Specialist (1)

Assistant Director for

District ServicesIT Technician

Director of Recreation

Superintendent of Finance

Director of

Operations & Dev.

Superintendent of Planning

- ii -

- iii -

FINANCIAL SECTION

1415 West Diehl Road, Suite 400

Naperville, IL 60563

630.566.8400

INDEPENDENT AUDITOR’S REPORT

Board of Commissioners Downers Grove Park District Downers Grove, Illinois We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund and the aggregate remaining fund information of the Downers Grove Park District (the District) as of and for the year ended December 31, 2017 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 of 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.

- 1 -

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 the Downers Grove Park District, as of December 31, 2017, 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 the 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 and statistical section 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. The 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 information is fairly stated in all material respects in relation to the basic financial statements as a whole.

- 2 -

The introductory 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 4, 2018

- 3 -

GENERAL PURPOSE EXTERNAL

FINANCIAL STATEMENTS

MANAGEMENT’S DISCUSSION AND ANALYSIS

MD&A 1

Downers Grove Park District Management’s Discussion & Analysis

For the Year Ended December 31, 2017

The Downers Grove Park District Discussion and Analysis for the fiscal year ended December 31,

2017 is offered to readers of the financial statements. The intent of the MD&A is to:

(1) Summarize the financial highlights of the Park District;

(2) Present an overview of the Park District’s financial position;

(3) Evaluate the Park District’s recent activities resulting in net position changes;

(4) Examine significant differences between the budget and year-end results;

(5) Review material changes in capital assets and long-term debt; and

(6) Recognize current facts or conditions that will impact the Park District.

We encourage readers to consider the information presented here in conjunction with additional

information that we have furnished in our letter of transmittal (page iv) and our Financial

Statements (beginning on page 4).

Financial Highlights

As outlined in the government-wide financial statements, the total assets and deferred

outflows of resources of the Downers Grove Park District exceeded liabilities and deferred

inflows of resources by $42,606,775 as of December 31, 2017. The net position increased

by $1,086,851 for the year ended December 31, 2017 compared to the net position of

$41,519,924 on December 31, 2016.

The Park District’s governmental funds reported combined ending fund balances of

$7,522,944 as of December 31, 2017, an increase of $205,049 over the prior year. This

includes $1,233,552 in assigned capital project funds, which are included within the

District’s Capital Improvement Plan, identified for future investment. This balance is the

result of Developer Donations/Cash-in-lieu-of-Land and prior year efficiencies that allow

the District to complete additional capital investments. Approximately, 31% of the total

$7.5 million fund balance is restricted to specific park district expenditures, another 25%

is fully unassigned, and the final 44% is assigned to recreational and capital activities.

As reported in the Statement of Activities, property taxes collected for fiscal year 2017

were $7,666,623. This is an increase of 78,426 over the previous year or about 1%. The

District also received $192,284 in replacement taxes during 2017, which is considerably

more than the $162,148 received in 2016. This was due to a strong economy and the State

reconciliation of past distributions of replacement taxes.

The District spent a total of $1,195,256 on governmental capital outlay, a significant

increase over the $408,880 on Capital Outlay in 2016. This amount was higher due to the

ability to spend annual capital dollars, additional capital funds donated by developers

(cash-in-lieu-of-land), and past efficiencies. Past efficiencies occur when the District is

able to perform better than budgeted from a revenue and expense standpoint.

Capital outlay for 2017 includes: the purchase and subsequent improvements made to 6821

Main Street adjacent to McCollum Park, softball field improvements at Powers Park,

irrigation improvements at Doerhoefer Park, parking lot improvements at Ebersold Park,

MD&A 2

electric line improvements at McCollum Concession Stand, dance floor and HVAC

replacement at the Lincoln Center, a shade structure at Lyman Woods and various park

vehicle and equipment replacements. An additional $89,499 was spent for the golf course

related to the purchase of equipment (greens and tee mowers) and construction in progress

related to a covered driving range.

As shown on the Statement of Activities, the Park District received $623,318 of capital

grants and contributions. The majority of this amount was from cash-in-lieu of land

developer contributions of $615,318. The District also received $179,825 of operating

grants and contributions, which included $86,788 toward the 2010 Build America Bond

and $93,037 toward tree/bench memorials and other recreational purposes.

Within the Notes to the Financial Statements, the Park District provides details on Long-

Term Liability Activity. This information shows a $16,984 increase in debt offset by the

retirement of $1,183,124 in debt, compensated absences, and pension liability of the Park

District during 2017.

o General obligation bond debt (including premiums/discounts) decreased $940,320

due to bond payments for principal and interest throughout the fiscal year. As of

the end of the year, the District continues to have outstanding bonds for the 2010,

2013A, 2015A, and 2015B issuances.

o The District monitors the cost of compensated time off held by our employees. This

changes throughout the year, as employees use or earn additional paid time off. As

of December 31, 2017, this balance has increased by $2,763 to a total of $596,100

for governmental and business-type activities.

o The IMRF pension liability decreased $228,583 based on actuarial valuations

through the Illinois Municipal Retirement Fund.

The Management’s Discussion and Analysis introduces the Park District’s basic financial

statements. The basic financial statements are: (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 themselves.

Government-Wide Financial Statements

The government-wide financial statements incorporate all the Park District’s governmental and

business-type activities, in a manner similar to a private-sector business using the economic

resources measurement focus and the accrual basis of accounting.

The Statement of Net Position presents information on all of the Park District’s assets and deferred

outflows of resources as well as liabilities and deferred inflows of resources with the difference

between them 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 Park District is improving or

deteriorating.

The Statement of Activities presents information showing how the District’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 (e.g. earned but unused vacation leave).

MD&A 3

Both of the government-wide financial statements distinguish functions of the Park District that

are principally supported by taxes and intergovernmental revenues (governmental 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 Park District include

general government, parks, open space, culture and recreation. The business-type activities of the

Downers Grove Park District include only the golf course. The Park District does not manage any

fiduciary activities such as employee pension plans. Fiduciary activities would not be included in

the government-wide statements since those assets would not be available to fund programs.

The government-wide financial statements are presented on pages 4-5 of this report.

Fund Financial Statements

A fund is a grouping of related accounts used to maintain control over resources that have been

segregated for specific activities or objectives. The Downers Grove Park District, like other state

and local governments, uses fund accounting to ensure and demonstrate compliance with finance-

related legal requirements. With the focus on significant balances and operations, we provide

individual reports for major funds, and aggregate reports for all other funds.

The focus of governmental funds is narrower than that of the government-wide financial

statements. Unlike the government-wide financial statements, governmental fund financial

statements focus on short-term inflows and outflows of available resources, as well as on balances

of spendable resources available at the end of the fiscal year. This information is useful in

evaluating a government’s near-term financing requirements.

It is useful to compare the information presented for governmental funds with similar information

presented for governmental activities in the government-wide financial statements. Both the

governmental fund balance sheet and the governmental fund statement of revenues, expenditures,

and changes in fund balance provide a reconciliation to facilitate this comparison between

governmental funds and governmental activities.

The Park District maintains individual governmental funds to track resources for individual

activities or objectives. 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 major funds. Major funds are those whose revenues, expenditures/expenses, assets/deferred

outflows of resources or liabilities/deferred inflows of resources are at least ten percent of the total

for their fund category or type (governmental or enterprise) and at least five percent of the

aggregate amount for all governmental and enterprise funds. Any fund may be reported as a major

fund if management considers the fund particularly important to financial statement users.

Currently, four funds are considered major for the District: (1) General, (2) Recreation, (3) Capital

Projects, and (4) Debt Service. The remaining funds are combined into a single aggregated

presentation including: (1) Museum, (2) Special Recreation, (3) Illinois Municipal Retirement, (4)

Audit, (5) Social Security/FICA, and (6) Insurance Liability.

The Downers Grove Park District adopts an annual Budget & Appropriation Ordinance.

Budgetary comparison statements are presented within the report. The basic governmental fund

financial statements can be found on pages 6 through 11 of this report.

MD&A 4

Proprietary funds report the Park District’s business activities in the enterprise fund and

government functions in internal service funds. The Park District’s enterprise fund is maintained

for the Golf Course Fund. The basic proprietary fund financial statements are presented on pages

12 through 14 of this report.

Notes to the Financial Statements

The notes provide additional information that is essential to understanding the data provided in the

government-wide and fund financial statements. The notes to the financial statements can be found

on pages 15 through 38 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 Park District’s progress in funding its

obligation to provide pension benefits to its employees. The required supplementary information

can be found on pages 39 through 44 of this report.

The combining and individual fund financial statements and schedules prepared for major and

non-major governmental funds, and enterprise and internal service funds are presented in the

subsequent section for supplementary information on pages 45 through 61 of this report.

The Park District’s financial reporting system under GASB 34 was implemented for the fiscal year

ending May 31, 2004, under GASB 63 and 65 for the fiscal year ending May 31, 2014 and under

GASB 68 for the fiscal year ending December 31, 2015. In 2014, the Park District changed from

a fiscal year ending May 31, to a calendar year as of December 31.

Government-Wide Financial Analysis

The District’s assets exceed liabilities by $42,606,775 as of December 31, 2017. By far, the largest

portion of the District’s net position, 89.2% or $38 million, reflects the net investment in capital

assets (e.g., land, buildings, machinery & equipment). The Park District uses these capital assets

to provide services; consequently, these assets are not available for future spending. Although the

Park District’s investment in its capital assets is reported net of related debt, the resources needed

to repay this debt must be provided from other sources, since the capital assets themselves cannot

be used to liquidate these liabilities.

External debt restrictions associated with the District’s general obligation bonds represent

$1,031,012 of the Park District’s net position or 2.4%. In addition, another $1,210,579 (2.8%) of

the Park District’s net position is restricted for specific purposes.

The remaining, unrestricted net position balance of $2,364,678, which is inclusive of the unfunded

compensated absences and IMRF pension liabilities, which do not account for the District annually

funding IMRF at 100% of the actuarial determined amount. Adjusted to eliminate these liabilities,

which are considerably long-term and annually funded, the District’s unrestricted net position

would increase to just over $4.5 million available to meet the Park District’s ongoing obligations

to citizens and creditors.

MD&A 5

Additional information on the Downers Grove Park District’s long-term debt can be found in note

4 on pages 26-29.

The table below separates the Business-Type activities of the Downers Grove Park District (Golf).

When looking at only this section of the Government-wide financials, the total net position as of

December 31, 2017 was $2,166,685. Approximately 7% of this is unrestricted reserves, with the

remaining amount recognized as net investment in capital assets. This also includes a considerable

amount of liability recognized due to recognition of IMRF and Compensated absences. This

Statement of Net Position is beneficial to the reader, but not when budgeting or looking at

individual fund balances of the District, as it takes into account long-term liabilities which the

District is adequately funding.

Total Net Position may serve over time as a useful indicator of a government’s financial position.

The following table presents a condensed summary of Net Position as of December 31, 2017 and

2016.

Current and other assets $ 16,715,804 $ 16,303,287 $ 484,925 $ 508,593 $ 17,200,729 $ 16,811,880

Capital assets 49,394,760 49,962,820 2,013,781 2,054,350 51,408,541 52,017,170

Total assets 66,110,564 66,266,107 2,498,706 2,562,943 68,609,270 68,829,050

IIMRF 1,424,992 867,531 123,912 - 1,548,904 867,531

Total assets and deferred

outflows of resources 67,535,556 67,133,638 2,622,618 2,562,943 70,158,174 69,696,581

Long-term liabilities 16,862,730 18,178,625 416,075 81,224 17,278,805 18,259,849

Other liabilities 2,313,767 2,228,803 34,550 31,395 2,348,317 2,260,198

Total liabilities 19,176,497 20,407,428 450,625 112,619 19,627,122 20,520,047

Property taxes 7,857,933 7,590,266 - - 7,857,933 7,590,266

Deferred Items - IMRF 61,036 66,344 5,308 - 66,344 66,344

Total liabilities and deferred

inflows of resources 27,095,466 28,064,038 455,933 112,619 27,551,399 28,176,657

Net Position

Net Investment in Capital Assets 35,986,725 35,614,465 2,013,781 2,054,350 38,000,506 37,668,815

Restricted

Special revenues 1,210,579 2,871,462 - - 1,210,579 2,871,462

Debt service 1,031,012 1,166,291 - - 1,031,012 1,166,291

Unrestricted 2,211,774 (582,618) 152,904 395,974 2,364,678 (186,644)

Total net position $ 40,440,090 $ 39,069,600 $ 2,166,685 $ 2,450,324 $ 42,606,775 $ 41,519,924

Business-type Activities (Golf Course) Total

Dec. 31, 2017Dec. 31, 2016 Dec. 31, 2016Dec. 31, 2016

Governmental Activities

Dec. 31, 2017 Dec. 31, 2017

Table 1 - Downers Grove Park District's Net Position

For the Fiscal Year Ended December 31, 2017

MD&A 6

The following table presents a condensed summary of Changes in Net Position for the years

ended December 31, 2017 and 2016.

Revenues:

Program revenues:

Charges for services $ 3,656,728 $ 3,563,598 $ 1,045,440 $ 1,070,374 $ 4,702,168 $ 4,633,972

Operating grants and

contributions 179,825 39,619 - - 179,825 39,619

Capital grants and

contributions 623,318 613,447 - - 623,318 613,447

General revenues:

Property taxes 7,666,623 7,588,197 - - 7,666,623 7,588,197

Other taxes 192,284 162,148 - - 192,284 162,148

Other 217,731 262,193 20,228 (3,225) 237,959 258,968

Total revenues 12,536,509 12,229,202 1,065,668 1,067,149 13,602,177 13,296,351

Expenses:

General 4,298,855 3,250,366 - - 4,298,855 3,250,366

Culture and recreation 7,354,217 7,942,506 994,031 977,642 8,348,248 8,920,148

Interest on long-term debt 537,276 561,368 - - 537,276 561,368

Total expenses 12,190,348 11,754,240 994,031 977,642 13,184,379 12,731,882

Change in net position-before

transfers 346,161 474,962 71,637 89,507 417,798 564,469

Transfers 134,172 139,019 (134,172) (139,019) - -

Change in net position 480,333 613,981 (62,535) (49,512) 417,798 564,469

Net position, beginning of year 39,069,601 38,455,620 2,450,324 2,499,836 41,519,925 40,955,456

Pension Restatement 890,157 - (221,104) - 669,053 -

Net position, end of year $ 40,440,091 $ 39,069,601 $ 2,166,685 $ 2,450,324 $ 42,606,776 $ 41,519,925

Year Ended Year Ended Year Ended Year Ended Year Ended

Table 2 - Downers Grove Park District's Changes in Net Position

Governmental Activities Business-type Activities (Golf Course)

12/31/2016 12/31/2016 12/31/2016


12/31/2017 12/31/2017 12/31/2017

Total

Year Ended

Charges for services29%

Capital grants & contribution 5%

Property taxes61%

Other revenues5%

Revenues by Source - Governmental Activities

MD&A 7

Financial Analysis of the Government’s Funds

As noted earlier, the Park District uses fund accounting to ensure and demonstrate compliance

with finance-related legal requirements.

Governmental Funds

The Park District’s governmental funds provide information on short-term inflows, outflows, and

balances of spendable resources. This information is useful in assessing the Park District’s

financing requirements. In particular, unassigned fund balance may serve as a useful measure of

the Park District’s net resources available for discretionary use. This balance represents the

portion of fund balance, which is not yet for a particular purpose by: (1) an external party, (2) the

Downers Grove Park District itself, or (3) a group or individual that has been delegated authority

to assign resources for particular purposes by the Downer Grove Park District’s Board of Park

Commissioners.

The governmental fund balance as of December 31, 2017 is $7,522,944. This is an increase of

$205,049 (2.8%) over the previous year. This was largely due to projects that have been carried

over to the 2018 fiscal year. The master plan, Lincoln Center elevator project and financial

software replacement will be completed during 2018. In addition, the District received a large

Cash-in-Lieu of Land Donation of $615,318 during 2017.

As displayed on the District’s Balance Sheet, $1,913,823 or 25% of the $7.5 million fund balance

constitutes unassigned fund balance, which is available for spending at the government’s

discretion. Restricted Funds in the amount of $2,241,591 (30% of total fund balance) are shown

separately from unassigned fund balance, as external restrictions limit how these funds can be

spent. The District has two, additional unrestricted - assigned amounts of $1,233,552 for capital

projects and $2,077,853 for overall recreation purposes. The final type of fund balance shown on

the balance sheet is $56,125 in non-spendable form. This is a very strong presentation of fund

balance, which aligns with the District’s expectations and fund balance policy.

Major Governmental Funds

The General, Recreation, Capital Projects and Debt Service funds are the primary operating funds

of the Park District.

The December 31, 2017 unassigned fund balance of the General fund is $1,913,823. This is a

$261,618 planned decrease from the prior year. This was a result of the General Fund transferring

$1,064,955 to the Debt Service and Capital Project Funds. These transferred funds are utilized to

make bond & interest payments, along with investing in additional capital outlay.

General Fund expenditures increased $313,174 or 10.4% over 2016 expenditures. This is the result

of a $53,000 increase in contractual services and employee benefits related to the Parks

department, a $64,000 increase in water expenses for the parks, a $69,000 increase based on the

accounting allocation of administrative salaries, and a $103,000 increase due to telecommunication

improvements and the accounting allocation of this expenditure.

MD&A 8

Transfers In of $150,000 were made in 2017 for shared information technology costs paid out of

the General Fund. The $1,064,955 in transfers out are for bond payments ($864,955) and capital

outlay ($200,000).

The total unassigned fund balance is available for future operations. As a measure of the fund’s

liquidity, the unassigned fund balance currently represents 48.5% of total annual expenditures

(operating expenditures plus transfers for debt minus transfers received). This fund balance

provides the District with flexibility during a time of year when property taxes are not received

(January until May).

The Recreation fund balance of $2,083,053 has increased $201,519 from the prior year. The funds

are available for any recreational purposes. An increase in the allocation of property taxes of

$121,994 was the largest year-over-year change. Charges for Services increased another $50,804

which was greatly impacted by increased preschool enrollment and the Link Program. This was

an increase of 1.7% to Charges for Services. Revenues from Charges for Services have been

increasing over the past few years. This is due to continued focus on expanding offerings and

proving programming/services sought by the public. Market analysis has allowed the District to

increase select fees for services which maintain a considerable demand. Other than the

miscellaneous category, all other areas of recreational operations saw revenue growth for 2017.

Recreation expenditures decreased by $81,966 during 2017. Staff is continually monitoring

budget vs actual and makes adjustments as the year progresses. As a result, repairs and

replacements of recreational assets were $75,266 less than 2016. This was the largest impact on

the expenditures of the Recreation Fund.

The table below compares major revenue and expenditure categories between the years ended

December 31, 2017 and the fiscal year ended December 31, 2016 in the Recreation Fund.

Year Ended Year Ended

Revenues:

Taxes $ 1,708,640 $ 1,586,646 $ 121,994

Charges for Services: 3,038,659 2,987,855 50,804

Merchandise Sales: 102,455 94,083 8,372

Rentals 245,175 237,495 7,680

Investment Income 23,917 12,148 11,769

Grants/Donations 51,471 18,954 32,517

Miscellaneous 64,188 80,718 (16,530)

Total Revenues 5,234,505 5,017,899 216,606

Expenditures: 4,385,233 4,467,199 (81,966)

Total Expenditures 4,385,233 4,467,199 (81,966)

Excess of Revenues Over Expenditures

Before Other Financing Sources (Uses) 849,272 550,700 298,572

Transfers, Net (647,753) (541,986) (105,767)

Net Change in Fund Balances 201,519 8,714 192,805

Fund Balances, Beginning 1,881,534 1,872,820 8,714

Fund Balances, End $ 2,083,053 $ 1,881,534 $ 201,519

12/31/2017 12/31/2016 Change

Table 3 - Downers Grove Park District Changes in Recreation Fund Balances


Recreation Fund Recreation Fund

MD&A 9

The Debt Service Fund’s ending fund balance for 2017 was $1,031,012, which is restricted for

payment of debt service. This balance is maintained within the Debt Service Fund for future

principal and interest bond payments.

In 2017, the District’ Capital Project Fund increased due to the timing of some projects. The

increase of $204,066 to $1,233,552 was the result of a carryover of three projects – the Park District

Master Plan, the replacement of the Financial Software and the elevator improvements at the

Lincoln Center. In addition, the District budgeted capital dollars, which were planned to be used

for the acquisition of the final parcel of land to complete McCollum Park. This purchase occurred

for $360,000 in January 2018.

Proprietary Funds

The Park District’s proprietary fund statements provide the same information found in the

government-wide financial statements, but in more detail.

Major Proprietary Funds

The Golf Course fund is the only enterprise fund of the Downers Grove Park District. This fund

accounts for the operation of a 90-acre golf course. Operations include golfing, a driving range,

programming, golf merchandise sales, and food/beverage sales. The intent of a Proprietary fund

is to recover the cost of operation through user charges.

The restated net position of the Golf Course Fund was $2,229,220 as of December 31, 2016. The

2017 fiscal year saw a decrease of $62,535. This decrease is due to the recognition of 130,068 in

depreciation expense. Operating income prior to transfers, interest and prior period adjustments

equated to a $67,071 profit. This becomes even larger when we eliminate the accounting entry of

depreciation expense and only include the actual dollars spent on capital for the fiscal year.

The Operating Revenues of the Golf Course finished with another strong year of exceeding $1

million in revenues. That being said, revenues are down $14,189 from 2016 and $15,603 from

budget. Program fees fell for the year, but merchandise sales, rental, and miscellaneous sales all

remained strong and slightly increasing. We believe that the decrease to program fees is primarily

due to weather conditions and golfers taking advantage of seasonal, twilight, and 1892 club

discounts. Operating Expenditures, which include capitalization/depreciation, ended the year

$102,600 better than budgeted. This is primarily due to personnel costs and capital outlay.

Personnel costs are down due to updating the allocation of administrative salaries during the fiscal

year. Capital Outlay consistently has a variance on this report, as the District budgets for capital

dollars spent, but this report is based on depreciation.

General Fund Budgetary Highlights

The General Fund had revenues of $3,988,002, which were $9,045 higher than last year and

$78,207 (2%) higher than budget. The budget variance was the result of Personal Property

Replacement Taxes coming in $22,666 higher than budgeted, due to a reconciliation of past year

payments by the State. In addition, interest income exceed budget by $32,386, a considerable

amount. The District improved their cash management policies in 2017, while taking advantage

of higher interest rates and a better fund balance.

MD&A 10

Expenditures of $3,336,324 were $34,294 or 1% lower than budget. The largest contributing

factor to this was personnel costs coming in $125,198 less than budget due to open positions,

changing responsibilities, and some reorganization throughout the District. Some of these

efficiencies were offset by contractual services used throughout the District. Revenues and

expenditure differences result in a favorable net budget variance of $112,501 before transfers. The

increase in both contractual services and commodities can be attributed to the parks department.

There was a significant increase in the quantity of water used in addition to supplies that maintain

and improve our parks.

Budgeted funds were transferred from the General Fund including $200,000 to the Capital Projects

Fund and another $864,955 to the Debt Service Fund. A total of $150,000 was transferred into the

General Fund from Recreation, Museum and Golf for shared information technology expenditures.

The District annually passes a balanced budget outside of carryover projects, or projects/debt that

is utilizing past revenues as payment. As part of this, the General Fund was budgeted to reduce

fund balance by $375,778. Due to strong revenues and favorable expenditures, the District

exceeded this target. Strong revenue and expenditures resulted in a lesser decrease in fund balance

of $261,618 and a year-end balance of $1,963,065. This is in line with the District’s 4 to 6-month

fund balance policy.

Capital Asset and Debt Administration

Capital Assets

The District based data for capital assets on historical cost perspective, along with the appraisal

and physical inventory performed during the 2003-04 fiscal year. This complies with the

requirements of GASB 34. We group assets in appropriate classes, with a normal useful life

assigned to allow the calculation of accumulated depreciation and net book values.

The Park District’s investment in capital assets for governmental and business-type activities as of

December 31, 2017 was $49,394,760 and $2,013,781, respectively. This investment includes land,

land improvements, buildings and improvements, equipment, licensed vehicles, and construction

in progress. The total decrease in the Park District’s investment in capital assets for the current

fiscal year was 1.2% (decrease of 1.1% for governmental activities and 2.0% for business-type

activities). The decrease in capital assets was due to annual depreciation, using straight-line basis.

Major capital asset events during the current fiscal year included the following:

Increases to Construction in Progress for Governmental Activities include $85,271 for

improvements to the Lincoln Center elevator, $69,920 related to the completion of the

District’s master plan, and $18,100 for the first steps (a topographic survey) to the development

of Walnut Park. CIP was decreased by the capitalization of $142,898 in expenditures for the

replacement of the Ebersold parking lot and another $4,200 for Lincoln Center HVAC

replacement.

Land and Improvements for 2017 include the purchase and land improvements at 6821 Main

Street for $402,793; ballfield improvements at Power Park ($55,447); drainage improvements

at Doerhoefer Park ($15,510) and the completion of the 2016/2017 project of Ebersold Park

Lot Improvements for $158,340.

MD&A 11

Building improvement expenditures for the year ended December 31, 2017 include a $331,771

expense for the replacement of the Lincoln Center HVAC; $12,925 to replace a dance floor at

the Lincoln Center and $23,370 to rewire electric lines to the McCollum Concession Stand.

Machinery & Equipment expenditures for 2017 includes a San Star ballfield groomer for

$18,143; a Toro Groundmaster lawn mower for $85,191 and a shade structure at Lyman Woods

for $13,941.

A summary of capital assets is presented below. Additional information on the Downers Grove

Park District’s capital assets can be found in note 3 on pages 25-26 of this report.

Long-term Debt

As of December 31, 2017, the Park District’s long-term liabilities are $18,245,461. This includes

an accrual of $4,241,326 for the IMRF net pension liability and $596,100 for compensated

absences. The IMRF net pension liability was new for all Illinois municipal governments in 2015.

The Governmental Accounting Standards Board changed the standards, as to which municipal

governments record liabilities. The District contributes 100% of its required annual contribution,

and IMRF is one of the strongest governmental pensions in the nation. This new entry is simply

a different representation of what the District will pay in the long-term to provide this benefit.

The outstanding debt of $13,408,035 (shown in Table 5) is for general obligation bonds issued by

the general government and includes current (1 year or less) long-term debt of $935,000.

Additional information on the Downers Grove Park District’s long-term debt can be found in note

4 on pages 26-29 of this report.

Dec. 31, 2017 Dec. 31, 2016 Dec. 31, 2017 Dec. 31, 2016 Dec. 31, 2017 Dec. 31, 2016

Land $ 23,901,354 $ 23,498,561 $ 750,000 $ 750,000 $ 24,651,354 $ 24,248,561

Land improvements 10,482,342 11,196,132 299,975 365,074 10,782,317 11,561,206

Bldgs and improvements 12,948,183 13,049,906 745,260 771,024 13,693,443 13,820,930

Machinery & equipment 1,761,309 1,893,606 203,013 160,157 1,964,322 2,053,763

Licensed vehicles 112,410 161,646 - - 112,410 161,646

Construction in Progress 189,162 162,969 15,533 8,095 189,162 162,969

Total 49,394,760 49,962,820 2,013,781 2,054,350 51,393,008 52,009,075

Table 4 - Downers Grove Park Distirct's Capital Assets (Net of Depreciation)

Governmental Business-type


Total

Additional information on the Downers Grove Park District's capital assets can be found in note 3 on pages 25-26 of this report.

Activities Activities

MD&A 12

The District’s total debt (G.O. Bonds, Bond Premium, Bond Discount) decreased $940,320 (6.6%)

during the year ending December 31, 2017.

In 2004, the District refunded 1991 and 1997 general obligation bonds and refunded installment

purchase contracts with general obligation bonds (alternate revenue source). In 2013, the District

refunded the 2004B general obligation bonds (alternate revenue source) with the issuance of the

2013A refunding general obligation bonds (alternate revenue source). In 2016, the District

refunded the 2006 and 2008 (partial refunding) general obligation bonds with the issuance of the

2015A refunding general obligation bonds (alternate revenue source). In 2016, the District issued

2015B General Obligation Limited Tax Park Bonds to purchase land adjoining Walnut Park.

The bond rating from Standard & Poor’s Rating Service was AA+ in 2016. Bonds were issued in

in 2010 for $6,000,000, in 2013 for $3,175,000 and in 2015 for $3,405,000 and $4,390,000.

Restricted funds have been established for the 2013A and 2015A bonds.

The District can issue non-referendum general obligation bonds based on the District’s 1991 debt

service level before the tax cap ($1.488 million). The legal debt limits for the District include

2.875% of assessed valuation ($2,242,789,906) for total debt issued, including referendum and

non-referendum bonds. In 2017 this is determined as follows: the District Assessed Valuation of

$2.24 billion * .002875 = the Statutory Debt Limitation of $64.48 million - $9.275 million of

general obligation bonds 2010 & 2015 = $55.205 Million Legal Debt Margin

Economic Factors and Next Year’s Budgets and Rates

Although current economic conditions have led to concern about sales, income, and motor fuel

taxes, these do not impact the District, as those dollars are not received by the District. The District

is not aware of economic factors to adversely affect its financial circumstances in the future.

Requests for Information

This financial report is designed to provide a general overview of the Downers Grove Park

District’s finances, comply with finance related laws and regulations and demonstrate the District’s

commitment to public accountability. Questions concerning any of the information provided in

this report or requests for additional information should be addressed to Erik Brown, Assistant

Director for Financial Services, Downers Grove Park District, 2455 Warrenville Road, Downers

Grove, IL 60515.

Series 2006 Bonds $ - $ -

Series 2008 Bonds - -

Series 2010 Bonds 4,885,000 5,060,000

Series 2013A Bonds 965,000 1,425,000

Series 2015A Bonds 2,925,000 3,200,000

Series 2015B Bonds 4,390,000 4,390,000

Bond Premiums 272,785 304,855

Bond Discounts (29,750) (31,500)

Installment Contract of 2014 - 0

Total $ 13,408,035 $ 14,348,355

Table 5 - Downers Grove Park District's Outstanding Debt


Dec. 31, 2017 Dec. 31, 2016

Activities

Governmental

Governmental Business-Type

Activities Activities Totals

ASSETS Cash 8,633,664$ 461,066$ 9,094,730$ Property taxes receivable (net, where applicable, of allowances for uncollectibles)

Property 7,857,933 - 7,857,933 Accounts 139,162 12,394 151,556

Prepaid expenses 56,125 2,176 58,301 Inventory - 9,289 9,289 Interest receivable 28,920 - 28,920 Capital assets not being depreciated 24,090,516 765,533 24,856,049 Capital assets being depreciated (net of accumulated depreciation) 25,304,244 1,248,248 26,552,492

Total assets 66,110,564 2,498,706 68,609,270

DEFERRED OUTFLOWS OF RESOURCES

Pension items 1,424,992 123,912 1,548,904

Total deferred outflows of resources 1,424,992 123,912 1,548,904

Total assets and deferred outflows of resources 67,535,556 2,622,618 70,158,174

LIABILITIES

Accounts payable 699,558 17,115 716,673 Accrued payroll 201,870 10,492 212,362 Accrued interest payable 15,587 - 15,587 Unearned revenue 433,499 3,540 437,039 Noncurrent liabilities

Due within one year 963,253 3,403 966,656 Due in more than one year 16,862,730 416,075 17,278,805

Total liabilities 19,176,497 450,625 19,627,122

DEFERRED INFLOWS OF RESOURCES

Deferred property tax revenue 7,857,933 - 7,857,933 Pension items 61,036 5,308 66,344

Total deferred inflows of resources 7,918,969 5,308 7,924,277

Total liabilities and deferred inflows of resources 27,095,466 455,933 27,551,399

NET POSITION

Net investment in capital assets 35,986,725 2,013,781 38,000,506 Restricted for

Debt service 1,031,012 - 1,031,012 Museum operations 452,038 - 452,038 Audit 15,691 - 15,691 Employee benefits 610,134 - 610,134 Special recreation 35,236 - 35,236 Liability insurance 97,480 - 97,480

Unrestricted 2,211,774 152,904 2,364,678

TOTAL NET POSITION 40,440,090$ 2,166,685$ 42,606,775$

December 31, 2017

STATEMENT OF NET POSITION



See accompanying notes to financial statements.- 4 -

Operating Capital

Charges Grants and Grants and Governmental Business-Type

FUNCTIONS/PROGRAMS Expenses for Services Contributions Contributions Activities Activities Total

PRIMARY GOVERNMENT

Governmental ActivitiesGeneral government 4,298,855$ 141,020$ 10,207$ -$ (4,147,628)$ -$ (4,147,628)$ Culture and recreation 7,354,217 3,515,708 82,830 623,318 (3,132,361) - (3,132,361) Interest 537,276 - 86,788 - (450,488) - (450,488)

Total governmental activities 12,190,348 3,656,728 179,825 623,318 (7,730,477) - (7,730,477)

Business-Type ActivitiesGolf Course 994,031 1,045,440 - - - 51,409 51,409

TOTAL PRIMARY GOVERNMENT 13,184,379$ 4,702,168$ 179,825$ 623,318$ (7,730,477) 51,409 (7,679,068)

General Revenues Taxes Property 7,666,623 - 7,666,623 Replacement 192,284 - 192,284 Investment income 86,340 4,566 90,906 Miscellaneous 131,391 15,662 147,053 Transfers 134,172 (134,172) -

Total 8,210,810 (113,944) 8,096,866

CHANGE IN NET POSITION 480,333 (62,535) 417,798

NET POSITION, JANUARY 1 39,069,600 2,450,324 41,519,924

Change in accounting principle/prior period adjustment 890,157 (221,104) 669,053

NET POSITION, JANUARY 1, RESTATED 39,959,757 2,229,220 42,188,977

NET POSITION, DECEMBER 31 40,440,090$ 2,166,685$ 42,606,775$

Program Revenues Primary Government

Net (Expense) Revenue and



STATEMENT OF ACTIVITIES


Change in Net Position




BALANCE SHEETGOVERNMENTAL FUNDS

December 31, 2017

Nonmajor Total

Debt Capital Governmental Governmental

General Recreation Service Projects Funds Funds

ASSETS

Cash and investments 2,142,781$ 2,646,966$ 1,031,012$ 1,369,233$ 1,443,672$ 8,633,664$ Receivables (net, where applicable, of allowances for uncollectibles)

Property taxes 3,703,009 1,916,708 357,216 - 1,881,000 7,857,933 Accounts 1,975 122,714 - 14,160 313 139,162

Prepaid items 49,242 5,200 - - 1,683 56,125 Interest receivable 10,277 12,193 - 3,571 2,879 28,920

TOTAL ASSETS 5,907,284$ 4,703,781$ 1,388,228$ 1,386,964$ 3,329,547$ 16,715,804$

- 6 -

Nonmajor Total



LIABILITIES

Accounts payable 173,347$ 200,575$ -$ 153,412$ 172,224$ 699,558$ Accrued payroll 67,863 82,744 - - 51,263 201,870 Unearned revenue - 420,701 - - 12,798 433,499

Total liabilities 241,210 704,020 - 153,412 236,285 1,334,927


Unavailable revenue - property taxes 3,703,009 1,916,708 357,216 - 1,881,000 7,857,933

Total deferred inflows of resources 3,703,009 1,916,708 357,216 - 1,881,000 7,857,933

FUND BALANCES

Nonspendable - prepaid items 49,242 5,200 - - 1,683 56,125 Restricted for debt service - - 1,031,012 - - 1,031,012 Restricted for museum operations - - - - 452,038 452,038 Restricted for audit - - - - 15,691 15,691 Restricted for employee benefits - - - - 610,134 610,134 Restricted for special recreation - - - - 35,236 35,236 Restricted for liability insurance - - - - 97,480 97,480 Unrestricted

Assigned for recreation - 2,077,853 - - - 2,077,853 Assigned for capital projects - - - 1,233,552 - 1,233,552

Unassigned 1,913,823 - - - - 1,913,823

Total fund balances 1,963,065 2,083,053 1,031,012 1,233,552 1,212,262 7,522,944

TOTAL LIABILITIES, DEFERRED INFLOWS

OF RESOURCES AND FUND BALANCES 5,907,284$ 4,703,781$ 1,388,228$ 1,386,964$ 3,329,547$ 16,715,804$

LIABILITIES, DEFERRED INFLOWS OF

RESOURCES AND FUND BALANCES


FUND BALANCES OF GOVERNMENTAL FUNDS 7,522,944$

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 49,394,760

Accrued interest on long-term liabilities is shown as a liability on the statement of net position (15,587)

Differences between expected and actual experiences, assumption changes and net differences between projected and actual earnings recognized as deferred outflows and inflows of resources on the statement of net position

Illinois Municipal Retirement Fund 1,363,956

Long-term liabilities are not due and payable in the current period and, therefore, are not reported in governmental funds

General obligation bonds (13,165,000) Unamortized premium on general obligation bonds (272,785) Unamortized discount on general obligation bonds 29,750 Compensated absences (515,928) Net pension liability for the Illinois Municipal Retirement Fund (3,902,020)

NET POSITION OF GOVERNMENTAL ACTIVITIES 40,440,090$

December 31, 2017


RECONCILIATION OF FUND BALANCES OF GOVERNMENTAL FUNDS TO THEGOVERNMENTAL ACTIVITIES IN THE STATEMENT OF NET POSITION





STATEMENT OF REVENUES, EXPENDITURESAND CHANGES IN FUND BALANCES

GOVERNMENTAL FUNDS


Nonmajor Total



REVENUES

Taxes 3,775,151$ 1,708,640$ 358,032$ -$ 2,017,084$ 7,858,907$ Intergovernmental - 24,590 86,788 - - 111,378 Charges for services - 3,038,659 - - 125,166 3,163,825 Merchandise sales - 102,455 - - 186 102,641 Rentals 141,020 245,175 - - - 386,195 Donations 10,207 51,471 - 623,318 6,769 691,765 Investment income 44,224 23,917 7,935 4,261 6,003 86,340 Miscellaneous 17,400 39,598 9,020 64,586 4,854 135,458

Total revenues 3,988,002 5,234,505 461,775 692,165 2,160,062 12,536,509

EXPENDITURES

CurrentGeneral government 3,336,324 - - 943 701,953 4,039,220 Culture and recreation - 4,385,233 - - 1,481,973 5,867,206

Capital outlay - - - 1,195,256 - 1,195,256 Debt service

Principal retirement - - 910,000 - - 910,000 Interest - - 566,103 - - 566,103 Fiscal charges - - 2,336 - - 2,336

Total expenditures 3,336,324 4,385,233 1,478,439 1,196,199 2,183,926 12,580,121

EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 651,678 849,272 (1,016,664) (504,034) (23,864) (43,612)

- 9 -

Nonmajor Total



OTHER FINANCING SOURCES (USES)

Transfers in 150,000$ -$ 864,955$ 700,000$ 247,068$ 1,962,023$ Transfers (out) (1,064,955) (647,753) - - (10,413) (1,723,121) Disposal of capital assets 1,659 - - 8,100 - 9,759

Total other financing sources (uses) (913,296) (647,753) 864,955 708,100 236,655 248,661

NET CHANGE IN FUND BALANCES (261,618) 201,519 (151,709) 204,066 212,791 205,049

FUND BALANCES, JANUARY 1 2,224,683 1,881,534 1,182,721 1,029,486 999,471 7,317,895

FUND BALANCES, DECEMBER 31 1,963,065$ 2,083,053$ 1,031,012$ 1,233,552$ 1,212,262$ 7,522,944$


NET CHANGE IN FUND BALANCES -

TOTAL GOVERNMENTAL FUNDS 205,049$

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 1,143,624

Depreciation on capital assets is reported as an expense in the statement of activities (1,705,602)

The loss on disposal of capital assets is shown as an expense on the statement of activities (6,082)

The change in certain liabilities are reported as expenses on the statement of activities

Compensated absences (5,007) Accrued interest 843

The change in the net pension liability are only reported in the statement of activities

Illinois Municipal Retirement Fund 210,296

The change in deferred outflows and inflows of resources for net pension liability are reported only in the statement of activities

Illinois Municipal Retirement Fund (198,378)

Certain costs associated with the issuances of bonds are deferred and amortized over the life of the bonds on the statement of activities

Amortization net of current year premium on issuance 32,070 Amortization net of current year loss on refunding (1,750)

The repayment 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 910,000

The change in net position of certain activities of internal service funds is in governmental funds (104,730)

CHANGE IN NET POSITION OF GOVERNMENTAL ACTIVITIES 480,333$



RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES,

GOVERNMENTAL ACTIVITIES IN THE STATEMENT OF ACTIVITIESEXPENDITURES AND CHANGES IN FUND BALANCES TO THE





STATEMENT OF NET POSITIONPROPRIETARY FUNDS

December 31, 2017

Business-Type

Activities - Governmental

Enterprise Fund Activities

Golf Course Internal Service

CURRENT ASSETS

Cash and investments 461,066$ -$ Receivables (net, where applicable, of allowances for uncollectibles)

Accounts 12,394 - Prepaid items 2,176 - Inventories 9,289 -

Total current assets 484,925 -

NONCURRENT ASSETS

Capital assetsNondepreciable 765,533 -

Depreciable 4,082,600 - Accumulated depreciation (2,834,352) -

Total noncurrent assets 2,013,781 -

Total assets 2,498,706 -


Pension items 123,912 -

Total deferred outflows of resources 123,912 -

Total assets and deferred outflows of resources 2,622,618 -

CURRENT LIABILITIES

Accounts payable 17,115 - Accrued benefits 10,492 - Unearned revenue 3,540 - Compensated absences payable 3,403 -

Total current liabilities 34,550 -

NONCURRENT LIABILITIES

Compensated absences payable, net of current portion 76,769 - Net pension liability 339,306 -

Total noncurrent liabilities 416,075 -

Total liabilities 450,625 -


Pension items 5,308 -

Total deferred inflows of resources 5,308 -

Total liabilities and deferred inflows of resources 455,933 -

NET POSITION

Investment in capital assets 2,013,781 - Unrestricted 152,904 -

TOTAL NET POSITION 2,166,685$ -$




STATEMENT OF REVENUES, EXPENSES ANDCHANGES IN NET POSITION

PROPRIETARY FUNDS


Business-Type




OPERATING REVENUES

Program fees 790,241$ -$ Merchandise sales 108,318 - Rentals 146,881 - Miscellaneous 15,662 -

Total operating revenues 1,061,102 -

OPERATING EXPENSES

Personnel costs 525,815 - Contractual services 109,003 - Commodities 185,149 - Capital outlay 43,996 - Depreciation 130,068 -

Total operating expenses 994,031 -

OPERATING INCOME 67,071 -

NON-OPERATING REVENUE

Interest income 4,566 -

Total non-operating revenue 4,566 -

INCOME BEFORE TRANSFERS 71,637 -

TRANSFERS OUT (134,172) (200,129)

CHANGE IN NET POSITION (62,535) (200,129)

NET POSITION, JANUARY 1 2,450,324 200,129

Change in accounting principle/prior period adjustment (221,104) -

NET POSITION, JANUARY 1, RESTATED 2,229,220 200,129

NET POSITION, DECEMBER 31 $ 2,166,685 -$




STATEMENT OF CASH FLOWSPROPRIETARY FUNDS


Business-Type




CASH FLOWS FROM OPERATING ACTIVITIES

Receipts from customers and users 1,050,650$ -$ Payments to employees (529,162) - Payments to suppliers (335,637) -

Net cash from operating activities 185,851 -

CASH FLOWS FROM NONCAPITAL

FINANCING ACTIVITIES

Transfers from (to) other funds (134,172) (194,785)

Net cash from noncapital financing activities (134,172) (194,785)

CASH FLOWS FROM CAPITAL AND

RELATED FINANCING ACTIVITIES

Purchase of capital assets (89,499) -

Net cash from capital and related financing activities (89,499) -

CASH FLOWS FROM INVESTING ACTIVITIES

Interest received 5,235 -

Net cash from investing activities 5,235 -

NET (DECREASE) IN CASH AND CASH EQUIVALENTS (32,585) (194,785)

CASH AND CASH EQUIVALENTS, JANUARY 1 493,651 194,785

CASH AND CASH EQUIVALENTS, DECEMBER 31 461,066$ -$

RECONCILIATION OF OPERATING INCOME TO NET

CASH FLOWS FROM OPERATING ACTIVITIES

Operating income 67,071$ -$ Adjustments to reconcile operating income to net cash from operating activities

Depreciation 130,068 - Changes in assets and liabilities

Accounts receivable (11,264) - Prepaid items (1,826) - Inventories 3,504 - Accounts payable 833 - Accrued benefits (702) - Unearned revenue 812 - Compensated absences (2,244) - Net pension liability and related pension items (401) -

NET CASH FROM OPERATING ACTIVITIES 185,851$ -$




NOTES TO FINANCIAL STATEMENTS

December 31, 2017

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Downers Grove Park District (the District), Downers Grove, Illinois, incorporated in 1946, is duly organized and existing under the provisions of the laws of the State of Illinois. The District is operating under the provisions of the Park District Code of the State of Illinois approved July 8, 1947 and under all laws amendatory thereto. The District operates under the commissioner-director form of government. The District provides a variety of recreational facilities, programs and services.

The financial statements of 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. Reporting Entity

In determining the financial reporting entity, the District complies with the provisions of GASB Statement No. 61, The Financial Reporting Omnibus – an Amendment of

GASB Statements No. 14 and No. 34, and includes all component units that have a significant operational or financial relationship with the District. Based upon the criteria set forth in the GASB Statement No. 61, there are no component units included in the reporting entity. The District is a member of the South East Association for Special Parks and Recreation (SEASPAR), which was organized by nine contiguous park districts and three municipalities in order to provide special recreation programs to physically and mentally challenged individuals and to share the expenses of such programs on a cooperative basis. SEASPAR’s Board of Directors consists on one representative from each participating

park district. The Board of Directors is the governing body of SEASPAR and is responsible for establishing all major policies and changes therein and for approving all budget, capital outlay, programming and master plans. SEASPAR is considered a jointly governed organization of members. During the year ended December 31, 2017, the District contributed $371,490 to SEASPAR. Separate financial statements for SEASPAR can be obtained from SEASPAR’s administrative offices at 4500 Belmont, Downers Grove, Illinois 60515.

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DOWNERS GROVE, ILLINOIS NOTES TO FINANCIAL STATEMENTS (Continued)

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

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.

Funds are classified into the following categories: governmental, proprietary and

fiduciary. The District does not have any fiduciary funds. Governmental funds are used to account for all or most of a government’s general

activities including the collection and disbursement of restricted, committed or assigned monies (special revenue funds), the funds committed, restricted or assigned for the acquisition or construction of capital assets (capital projects funds) and the funds committed, restricted or assigned for the servicing of long-term debt (debt service funds). The General Fund is used to account for all activities of the general government not accounted for in some other fund.

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 District’s internal service fund was closed during

the year ended December 31, 2017. c. Government-Wide and Fund Financial Statements 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. The effect of material interfund activity, other than interfund service transactions, has been eliminated from these statements. 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 user fees and charges for support.

In the government-wide statement of net position, both the governmental and

business-type activities columns are (a) presented on a consolidated basis by column, and (b) reported on a full accrual, economic resource basis, which recognizes all long-term assets/deferred outflows and receivables as well as long-term debt/deferred inflows and obligations. The District’s net position is reported in three parts: net

investment in capital assets; restricted; and unrestricted. The District first utilizes restricted resources to finance qualifying activities.

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c. Government-Wide and Fund Financial Statements (Continued) The net costs (by function) are normally covered by general revenue (property and

personal property replacement taxes, certain intergovernmental revenues, interest income, etc.).

The District does not allocate indirect costs. An administrative service fee is charged

by the General Fund to the other operating funds that is eliminated like a reimbursement (reducing the revenue and expense in the General Fund) to recover the direct costs of General Fund services provided (finance, personnel, purchasing, legal, technology management, etc.).

This government-wide focus is more on the sustainability of the District as an entity

and the change in the District’s net position resulting from the current year’s activities. 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. Contributions of land by developers under land/cash ordinances are reported as contributions on the statement of activities.

Separate financial statements are provided for governmental funds and proprietary

funds. Major individual governmental funds are reported as separate columns in the fund financial statements.

The District reports the following major governmental funds: The General Fund is the general operating fund of the District. It is used to

account for all financial resources of the District, except those accounted for in another fund.

The Recreation Fund accounts for expenditures for the various recreation

programs sponsored by the District. Expenditures are funded by a restricted tax levy and user fees.

The Debt Service Fund accounts for the accumulation of restricted or assigned

funds for the periodic payment of principal and interest on general long-term debt.

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1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) c. Government-Wide and Fund Financial Statements (Continued) The Capital Projects Fund accounts for expenditures for the acquisition, major

repair and maintenance, construction or addition to capital facilities or capital equipment. Funding is provided by bond proceeds, installment contracts, grants, developer impact fees, donations, investment earnings and transfers from other funds. The District has elected to present this fund as a major fund.

The District reports the following major enterprise fund: The Golf Course Fund accounts for the operation and maintenance of the

District’s golf facility. 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. With this measurement focus, all assets, deferred outflows of resources, liabilities and deferred inflows of resources associated with the operation of these activities/funds are included on the statement of net position. 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. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. 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 (60 days). 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.

Those revenues susceptible to accrual are property taxes, interest revenue and charges

for services. Other revenues are not susceptible to accrual because they are not measureable until received in cash.

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d. Measurement Focus, Basis of Accounting and Financial Statement Presentation

(Continued) The District reports unearned/unavailable/deferred revenue on its financial statements.

Unavailable/deferred revenues arise when potential revenue does not meet both the measurable and available or earned criteria for recognition in the current period for governmental funds or available or earned at the entity-wide level. Unearned revenues arise when resources are received by the government before it has legal claim to them as when grant monies are received prior to the incurrence of qualifying expenditures. In subsequent periods, when revenue recognition criteria are met, or when the government has a legal claim to the resources by meeting all eligibility requirements, the liability or deferred inflow of resource is removed from the financial statements and revenue is recognized.

e. Cash and Investments For the purpose of the proprietary funds statement of cash flows, cash and cash

equivalents are considered to be cash on hand, demand deposits, cash with fiscal agent and all highly liquid investments with an original maturity of three months or less.

Investments with a maturity date of less than one year when purchased and

non-negotiable certificates of deposit are stated at cost or amortized cost. Money market mutual funds are stated at amortized cost, which approximates fair value. 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. For investments, the District categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. 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, 2017.

f. Prepaid Items/Expenses and Inventories

Payments made to vendors for services that will benefit periods beyond the date of this report are recorded as prepaid items/expenses. Prepaid items are recognized as expenditures on the consumption method in governmental funds. Inventories are valued at cost, which approximates market, using the first-in/first-out (FIFO) method. The costs of governmental fund inventories are recorded as expenditures when consumed rather than when purchased.

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g. Capital Assets Capital assets, which include property, plant, equipment and infrastructure assets (e.g.,

bike trails, paths and similar items), are reported in the applicable governmental activities column in the government-wide financial statements. Capital assets are defined by the District as assets with an initial, individual cost of more than $10,000 and an estimated useful life in excess of one year. Such assets are reported at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at the estimated 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. Interest incurred during the construction phase of capital assets is not included as part of the capitalized value of the assets constructed. Property, plant and equipment is depreciated using the straight-line method over the following estimated useful lives:

Assets Years

Land improvements 8-25 Buildings and building improvements 8-50 Machinery and equipment 5-30 Vehicles 5-12 Information technology 3-10

h. Long-Term Obligations In the government-wide financial statements and the proprietary funds in the fund

financial statements, long-term debt and other long-term obligations are reported as liabilities in the applicable governmental activities or proprietary fund financial statements. 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. Bond issuance costs are expensed as incurred.

In the fund financial statements, governmental funds recognize bond premiums and

discounts, as well as bond issuance costs, 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.

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i. Accrued Compensated Absences

Vested or accumulated vacation and sick leave that is due to employees who have retired or terminated by the end of the year is reported as an expenditure and a fund liability of the governmental fund that will pay it. Vested or accumulated vacation and sick leave of proprietary funds and governmental activities is recorded as an expense and liability of those funds as the benefits accrue to employees. No liability is recorded for nonvesting accumulated rights to receive sick pay benefits. A liability is recognized for that portion of accumulating sick leave benefits that is estimated to be converted to a cash payment upon retirement.

j. Property Taxes Property taxes for 2016 attach as an enforceable lien on January 1, 2016 on property

values assessed as of the same date. Taxes are levied by December 2016 (by passage of a Tax Levy Ordinance). Tax bills are prepared by DuPage County and are payable in two installments, on or about June 1, 2017 and September 1, 2017. The County collects such taxes and remits them periodically.

The 2017 tax levy, which is intended to finance the 2018 fiscal year, has been recorded

as a receivable and unavailable/deferred revenue as of December 31, 2017. k. Net Position/Fund Balances In the government-wide financial statements, equity is classified as net position and

displayed in three components: Net Investment in Capital Assets - Consists of capital assets, including restricted

capital assets, net of accumulated depreciation, and reduced by the outstanding balances of any bonds, mortgages, notes or other borrowings that are attributable to the acquisition, construction, or improvement of those assets.

Restricted - Consists of net position with constraints placed on the use either by

(1) external groups such as creditors, grantors, contributors or laws or regulations of other governments; or (2) law through constitutional provisions or enabling legislations.

Unrestricted - All other net position balances that do not meet the definition of

restricted or net investment in capital assets. In the fund financial statements, governmental funds report nonspendable fund

balance for amounts that are either not spendable in form or legally or contractually required to be maintained intact. Restrictions of fund balance are reported for amounts

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k. Net Position/Fund Balances (Continued) 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. None of the restricted fund balances result from enabling legislation adopted by the District. Committed fund balance is constrained by formal actions of the District’s Board of Commissioners, which is considered the District’s highest level of

decision-making authority. Formal actions include ordinances and resolutions approved by the Board of Commissioners. 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 Executive Director through the District’s

adopted fund balance policy. Any residual fund balance in the General Fund or any deficit fund balance in any other governmental funds is reported as unassigned. The District’s fund balance policy states that the General and Recreation Funds should maintain a minimum unassigned fund balance equal to four to six months of budgeted operating expenditures. Fund balances in excess of said levels may be transferred to other funds at the discretion of the Board of Commissioners.

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 and then unassigned funds.

l. Interfund Transactions Reciprocal interfund service 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 are reported as transfers.

Activity between funds that are representative of lending/borrowing arrangements

outstanding at the end of the fiscal year are referred to as either “due to/from other fund”

(i.e., the current portion of interfund loans) or “advances to/from other funds” (i.e., the

noncurrent portion of interfund loans). m. 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

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m. Deferred Outflows/Inflows of Resources (Continued) applies to a future period(s) and so will not be recognized as an outflow of resources

(expense/expenditure) until then. 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 a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time.

n. Use of Estimates The preparation of financial statements in conformity with generally accepted

accounting principles requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities 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.

2. DEPOSITS AND INVESTMENTS

The District maintains a cash and investment pool that is available for use by all funds. Each fund’s portion of this pool is displayed on the balance sheet as cash and investments. In addition, investments are separately held by several of the District’s funds. Permitted Deposits and Investments - Statutes and the District’s investment policy authorize

the District to make deposits/invest in commercial banks, savings and loan institutions, obligations of the U.S. Treasury and U.S. agencies, obligations of states and their political subdivisions, credit union shares, repurchase agreements, commercial paper rated within the three highest classifications by at least two standard rating services and the Illinois Park District Liquid Asset Fund.

The Illinois Park District Liquid Asset Fund (IPDLAF) allows Illinois park districts, forest preserves and joint recreational programs to pool their funds for investment purposes. The IPDLAF is composed of finance officials and treasurers all of whom are employees of the Illinois public agencies, which are investors in the IPDLAF. Investments in the IPDLAF are valued at the share price, the price for which the investment could be sold.

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 objective of the policy is safety (preservation of capital and protection of investment principal), liquidity, return on investment and time frame.

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2. DEPOSITS AND INVESTMENTS (Continued)

Deposits with Financial Institutions Custodial credit risk for deposits with financial institutions is the risk that in the event of a

bank’s failure, the District’s deposits may not be returned to it. The District’s investment

policy requires pledging of collateral with a fair value of 102% of all bank balances in excess of federal depository insurance with the collateral held by a third party in the District’s name.

Investments The District does not have any recurring investments requiring fair value measurement

disclosure as of December 31, 2017.

Interest Rate Risk. Interest rate risk is the risk that changes in interest rates will adversely affect the fair value of an investment. The District’s investment policy states that the investment portfolio shall remain sufficiently liquid to enable the District to meet all operating requirements which may be reasonably anticipated in any district fund. To the extent possible, the District shall attempt to match its investment maturities with anticipated cash flow requirements. Unless matched to a specific cash flow, the District will not directly invest in securities maturing more than one year from the date of purchase. Reserve funds may be invested in securities exceeding one year, if the maturity of such investments are made to coincide as nearly as possible with the expected use of the funds.

Credit Risk. Credit risk is the risk that an issuer or other counterparty to an investment will

not fulfill its obligations. Besides investing in security instruments authorized under State Statute, the District’s investment policy further states that investments shall be undertaken

in a manner that seeks to ensure the preservation of capital in the overall portfolio. At year end, the District’s investment in the IPLDAF is rated AAAm by Standard & Poor’s.

Custodial Credit Risk for Investments. 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. The District’s investment policy states that third party safekeeping is required for all securities.

Concentration of Credit Risk. This is the risk of loss attributed to the magnitude of the

District’s investment in a single issuer. The District’s investment policy states that it is the

policy of the District to diversify its investment portfolio. Investments shall be diversified to eliminate the risk of loss resulting in over concentration in a specific maturity, issuer or class of securities. Diversification strategies will be determined and revised periodically by the Assistant Director for Financial Services and approved by the Treasurer. At year end, the District does not have any investments over 5% of the District’s investments (other than investments issued or explicitly guaranteed by the U.S. Government and investments in mutual funds, external investment pools and other pooled investments).

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3. CAPITAL ASSETS Governmental capital asset activity for the year ended December 31, 2017 was as follows:

Beginning Ending Balances Increases Decreases Balances GOVERNMENTAL ACTIVITIES Capital assets not being depreciated Land $ 23,498,561 $ 402,793 $ - $ 23,901,354 Construction in progress 162,969 173,291 147,098 189,162 Total capital assets not being depreciated 23,661,530 576,084 147,098 24,090,516 Capital assets being depreciated Land improvements 21,420,513 229,297 - 21,649,810 Buildings 20,473,184 368,066 - 20,841,250 Machinery and equipment 4,245,894 117,275 62,365 4,300,804 Licensed vehicles 772,630 - - 772,630 Total capital assets being depreciated 46,912,221 714,638 62,365 47,564,494 Less accumulated depreciation for Land improvements 10,224,381 943,087 - 11,167,468 Buildings and improvements 7,423,278 469,789 - 7,893,067 Machinery and equipment 2,352,288 243,490 56,283 2,539,495 Licensed vehicles 610,984 49,236 - 660,220 Total accumulated depreciation 20,610,931 1,705,602 56,283 22,260,250 Total capital assets being depreciated, net 26,301,290 (990,964) 6,082 25,304,244 GOVERNMENTAL ACTIVITIES CAPITAL ASSETS, NET $ 49,962,820 $ (414,880) $ 153,180 $ 49,394,760

Depreciation expense was charged to functions/programs of the District’s governmental

activities as follows:

GOVERNMENTAL ACTIVITIES General government $ 264,878 Culture and recreation 1,440,724 TOTAL DEPRECIATION EXPENSE - GOVERNMENTAL ACTIVITIES $ 1,705,602

Business-type capital asset activity for the year ended December 31, 2017 was as follows:

Beginning Ending Balances Increases Decreases Balances BUSINESS-TYPE ACTIVITIES Capital assets not being depreciated Land $ 750,000 $ - $ - $ 750,000 Construction in progress 8,095 7,438 - 15,533 Total capital assets not being depreciated 758,095 7,438 - 765,533

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3. CAPITAL ASSETS (Continued)

Beginning Ending Balances Increases Decreases Balances BUSINESS-TYPE ACTIVITIES (Continued)

Capital assets being depreciated Land improvements $ 2,286,347 $ - $ - $ 2,286,347 Buildings and improvements 1,288,054 - - 1,288,054 Machinery and equipment 406,381 82,061 - 488,442 Licensed vehicles 19,757 - - 19,757 Total capital assets being depreciated 4,000,539 82,061 - 4,082,600 Less accumulated depreciation for Land improvements 1,921,273 65,099 - 1,986,372 Buildings and improvements 517,030 25,764 - 542,794 Machinery and equipment 246,224 39,205 - 285,429 Licensed vehicles 19,757 - - 19,757 Total accumulated depreciation 2,704,284 130,068 - 2,834,352 Total capital assets being depreciated, net 1,296,255 (48,007) - 1,248,248 BUSINESS-TYPE ACTIVITIES CAPITAL ASSETS, NET $ 2,054,350 $ (40,569) $ - $ 2,013,781

4. 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. 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 Balances January 1

Issuances

Retirements

Balances December 31

Current Portion

Taxable General Obligation Limited Tax Park Bonds of 2010 - Due in annual installments of $145,000 to $435,000 plus interest at 1.20% to 6.25% through December 15, 2034.

$ 5,060,000

$ -

$ 175,000

$ 4,885,000

$ 185,000

General Obligation Refunding Park Bonds of 2013A - Due in annual installments of $425,000 to $490,000 plus interest at 2.00% through December 15, 2019.

1,425,000

-

460,000

965,000

475,000

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4. LONG-TERM DEBT (Continued) a. General Obligation Bonds (Continued)

Issue

Balances January 1

Issuances

Retirements


Current Portion

General Obligation Refunding Park Bonds of 2015A - Due in annual installments of $25,000 to $335,000 plus interest at 2.00% to 4.00% through December 15, 2028.

$ 3,200,000

$ -

$ 275,000

$ 2,925,000

$ 275,000

General Obligation Limited Tax Park Bonds of 2015B - Due in annual installments of $125,000 to $505,000 plus interest at 3.00% to 4.00% through December 30, 2034.

4,390,000

-

-

4,390,000

-

TOTAL GENERAL OBLIGATION BONDS

$ 14,075,000

$ -

$ 910,000

$ 13,165,000

$ 935,000

b. Debt Service to Maturity The annual requirements to amortize to maturity serial debt outstanding as of December 31,

2017 are as follows:

Fiscal Year Ending

General Obligation Bonds

December 31, Principal Interest 2018 $ 935,000 $ 545,891 2019 970,000 524,507 2020 620,000 501,592 2021 640,000 483,405 2022 665,000 461,895 2023 690,000 439,020 2024 720,000 410,245 2025 760,000 379,607 2026 685,000 346,608 2027 715,000 315,907 2028 750,000 283,103 2029 740,000 248,222 2030 775,000 213,098 2031 815,000 175,887 2032 850,000 135,075 2033 895,000 92,413 2034 940,000 47,387 TOTAL $ 13,165,000 $ 5,603,862

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4. LONG-TERM DEBT (Continued)

c. Changes in Long-Term Liabilities During the fiscal year the following changes occurred in long-term liabilities reported

in the governmental activities:

Balances January 1, Restated

Issuances

Retirements


Current Portion

Compensated absences* $ 510,921 $ 16,984 $ 11,977 $ 515,928 $ 28,253 General obligation bonds 14,075,000 - 910,000 13,165,000 935,000 Unamortized premiums 304,855 - 32,070 272,785 - Unamortized discounts (31,500) - (1,750) (29,750) - Net pension liability - IMRF** 4,112,316 - 210,296 3,902,020 - TOTAL GOVERNMENTAL ACTIVITIES $ 18,971,592 $ 16,984 $ 1,162,593 $ 17,825,983 $ 963,253

* Primarily retired by the General, Recreation and Museum Funds. ** Primarily retired by the General Fund.

During the fiscal year, the following changes occurred in long-term liabilities reported in the business-type activities:

Balances January 1, Restated

Issuances

Retirements


Current Portion

Compensated absences $ 82,416 $ - $ 2,244 $ 80,172 $ 3,403 Net pension liability - IMRF 357,593 - 18,287 339,306 - TOTAL BUSINESS-TYPE ACTIVITIES $ 440,009 $ - $ 20,531 $ 419,478 $ 3,403

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 protection 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

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4. LONG-TERM DEBT (Continued) d. Legal Debt Margin (Continued) 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 0.575% 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.”

The schedule of the District’s legal debt margin as of December 31, 2017 is as follows:

ASSESSED VALUATION - 2016 (Latest information available)

$ 2,242,789,906

Statutory debt limitation (2.875% of assessed valuation) $ 64,480,210 Less general obligation bonds (9,275,000) LEGAL DEBT MARGIN $ 55,205,210

e. Pledged Revenues The District issued the General Obligation Alternate Revenue Source Bond Series of

2013A. These bonds are payable from a pledge of the District’s General Fund revenues. The Series 2013A bonds will require $994,100 for total interest and principal as of December 31, 2017. During the current fiscal year, the pledged General Fund revenue of $488,500 for paying the Series 2013A bonds was 12.24% of total General Fund revenues.

The District issued the General Obligation Alternate Revenue Source Bond Series of

2015A. These bonds are payable from a pledge of the District’s General Fund and Recreation Fund revenues. The Series 2015A bonds will require $3,505,912 for total interest and principal as of December 31, 2017. During the current fiscal year, the pledged General Fund revenue of $374,887 for paying the Series 2015A bonds was 4.62% of total General Fund revenues.

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5. INDIVIDUAL FUND DISCLOSURES a. Interfund Transfers Individual fund interfund transfers are as follows:

Transfers In

Transfers Out

General Fund $ 150,000 $ 1,064,955 Recreation Fund - 647,753 Debt Service 864,955 - Capital Projects 700,000 - Nonmajor Governmental Funds 247,068 10,413 Golf Course Fund - 134,172 Internal Service Fund* - 200,129 TOTAL $ 1,962,023 $ 2,057,422

* $95,399 was transferred from the Internal Service Fund to the Governmental

Activities to transfer the capital assets of the fund. The purpose of the significant transfers resulted from:

• $200,000 from the General Fund and $500,000 from the Recreation Fund was

transferred to the Capital Projects Fund in accordance with the District’s Fund Balance Policy.

• $864,955 from the General Fund to Debt Service was transferred to cover debt

service payments. • $134,172 was transferred from the Golf Fund to various funds to cover expenses

related to payroll, insurance and information technology. • $150,000 was transferred into the General Fund from various funds as an

allocation to cover District-wide information technology costs. • $134,172 was transferred from the Internal Service Fund to a nonmajor

governmental fund to transfer the current operations of the fund. 6. RISK MANAGEMENT

The District is exposed to various risks related to torts; theft of, damage to and destruction

of assets; errors and omissions; injuries and illness to employees; and net income losses. The District participates in the Village of Downers Grove’s health insurance program and pays agreed-upon annual premiums on a monthly basis.

- 30 -



6. RISK MANAGEMENT (Continued)

Since 1994, the District has been a member of the Park District Risk Management Agency

(PDRMA), a joint risk management pool of park and forest preserve districts and special recreation associations through which property, general liability, automobile liability, crime, boiler and machinery, public officials’ and workers’ compensation coverage is provided in excess of specified limits for the members, acting as a single insurable unit.

Each member assumes the first $1,000 of property claims each occurrence and has

self-insurance retentions at various amounts. Management consists of a Board of Directors comprised of one appointed representative

from each member. In addition, there are two officers, a Risk Manager and a Treasurer. The District does not exercise any control over the activities of PDRMA beyond its

representation on the Board of Directors.

Initial contributions are determined in advance of each membership year based on the individual member’s expenditures as defined in the by-laws of PDRMA, assessment factors based on past member experience and the funding needs for the membership year. The Board of Directors may require that supplemental contributions be made by members to ensure that adequate funds are available to meet the obligations applicable to the membership year. Members have a contractual obligation to fund any deficit of PDRMA attributable to a membership year during which they were a member.

Losses exceeding the per occurrence self-insured and reinsurance limit would be the

responsibility of the District. The District is not aware of any additional amounts owed to PDRMA at December 31, 2017.

7. INTERGOVERNMENTAL AGREEMENTS

The District entered into a real estate purchase agreement in 1987 with the Village of

Downers Grove (the Village) and the Forest Preserve District of DuPage County, whereby the District agreed to reimburse an amount to the Village for its contribution to the initial purchase, thereby acquiring an equal interest in the property as a tenant in common. As additional consideration for an interest in the property, the District agreed to assume primary operations and maintenance responsibilities for the property. Under an open space land agreement between the same parties, as last amended in 1995, the District also accepted management and development responsibilities of the property and various adjacent parcels for a minimum period of five years. In 1995, the District and the Forest Preserve District of DuPage County entered into an intergovernmental agreement to provide for the acquisition, operation, maintenance and development of the Town and Country parcel adjacent to Lyman Woods. In 2002, the District and the Forest Preserve District of DuPage County entered into an intergovernmental agreement to provide for the construction and operation of an interpretive center on the Town and County parcel.

- 31 -



8. DEFINED BENEFIT PENSION PLAN Illinois Municipal Retirement Fund

The District contributes to one defined benefit pension plan, the Illinois Municipal Retirement Fund (IMRF), a defined benefit agent multiple-employer public employee retirement system. IMRF issues a publicly available financial report that includes financial statements and required supplementary information for the plan as a whole, but not by individual employer. That report may be obtained online at www.imrf.org. The benefits, benefit levels, employee contributions and employer contributions are governed by Illinois Compiled Statutes (ILCS) and can only be amended by the Illinois General Assembly.

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.

Plan Membership At December 31, 2016 (latest information available), IMRF membership consisted of:

Inactive employees or their beneficiaries currently receiving benefits 65 Inactive employees entitled to but not yet receiving benefits 63 Active employees 67 TOTAL 195

Benefits Provided 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. These benefit provisions and all other requirements are established by state statute.

- 32 -



8. DEFINED BENEFIT PENSION PLAN (Continued)

Illinois Municipal Retirement Fund (Continued) 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 calendar year December 31, 2017 was 18.45% of covered payroll.

Actuarial Assumptions

The District’s net pension liability was measured as of December 31, 2016 and the total

pension liability used to calculate the net pension liability was determined by an actuarial valuation performed as of the same date using the following actuarial methods and assumptions.

Actuarial valuation date December 31, 2016 Actuarial cost method Entry-age normal Assumptions Inflation 2.75% Salary increases 3.75% to 14.50% Interest rate 7.50% Cost of living adjustment 2.75% Asset valuation method Market value

Additional information on the actuarial assumptions, including a description of how the long-term expected rate of return on pension plan investments was determined and the assumed asset allocation are available in the separately issued report referenced in the first paragraph of this footnote.

For nondisabled retirees, an IMRF specific mortality table was used with fully generational projection scale MP-2014 (base year 2012). 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-2014 (base year 2012). IMRF specific rates were developed from the RP-2014 Disabled Retirees Mortality Table applying the same adjustment that were applied for nondisabled lives. For active members, an IMRF specific mortality table was used with fully generational projection scale MP-2014 (base year 2012). IMRF specific rates were developed from the RP-2014 Employee Mortality Table with adjustments to match current IMRF experience.

- 33 -




Illinois Municipal Retirement Fund (Continued) Discount Rate

The discount rate used to measure the total pension liability was 7.50% (7.48% for

December 31, 2015). 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. Therefore, the long-term expected rate of return on pension plan investments was applied to all period of projected benefit payments to determine the total pension liability

Changes in the Net Pension Liability

(a)

Total Pension

(b) Plan

Fiduciary

(a) - (b) Net

Pension Liability Net Position Liability BALANCES AT JANUARY 1, 2016

$ 22,320,186

$ 17,850,277

$ 4,469,909

Changes for the period Service cost 384,121 - 384,121 Interest 1,642,716 - 1,642,716 Difference between expected and actual experience 18,278 - 18,278 Changes in assumptions (86,062) - (86,062) Employer contributions - 660,489 (660,489) Employee contributions - 159,664 (159,664) Net investment income - 1,238,699 (1,238,699) Benefit payments and refunds (1,042,801) (1,042,801) - Other (net transfer) - 128,784 (128,784) Net changes 916,252 1,144,835 (228,583) BALANCES AT DECEMBER 31, 2016

$ 23,236,438

$ 18,995,112

$ 4,241,326

- 34 -




Illinois Municipal Retirement Fund (Continued)

Pension Expense and Deferred Outflows of Resources and Deferred Inflows of

Resources

For the fiscal year ended December 31, 2017, the District recognized pension expense of $681,373.

At December 31, 2017, the District reported deferred outflows of resources and deferred inflows of resources related to IMRF from the following sources:

Deferred

Outflows of Deferred

Inflows of Resources Resources Difference between expected and actual experience $ 35,044 $ - Changes in assumption 15,624 (66,344) Net difference between projected and actual earnings on pension plan investments 816,863 - Contributions made subsequent to the measurement date 681,373 - TOTAL $ 1,548,904 $ (66,344) $681,373 reported as deferred outflows of resources related to pensions resulting from the District contributions subsequent to the measurement date will be recognized as a reduction of net pension liability in the reporting year ending December 31, 2018. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to IMRF will be recognized in pension expense as follows:

Year Ending December 31,

2018 $ 264,643 2019 264,643 2020 258,253 2021 13,648 2022 - Thereafter - TOTAL $ 801,187

- 35 -




Illinois Municipal Retirement Fund (Continued)

Discount Rate Sensitivity

The following is a sensitivity analysis of the net pension liability to changes in the discount

rate. The table below presents the net pension liability of the District calculated using the discount rate of 7.50% as well as what the District’s net pension liability would be if it were calculated using a discount rate that is 1 percentage point lower (6.50%) or 1 percentage point higher (8.50%) than the current rate:

1% Decrease

Current Discount Rate

1% Increase

(6.50%) (7.50%) (8.50%) Net pension liability $ 7,338,261 $ 4,241,326 $ 1,698,628

9. OTHER POSTEMPLOYMENT BENEFITS

The District has evaluated its potential other postemployment benefits liability. Former employees who choose to retain their rights to health insurance through the District are required to pay 100% of the current premium. However, there is minimal participation. As the District provides no explicit benefit, and there is minimal participation, there is no material implicit subsidy to calculate in accordance with GASB Statement No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than

Pensions. Therefore, the District has not recorded a liability as of December 31, 2017. 10. CONTINGENT LIABILITIES

a. Litigation The District is not currently involved in any lawsuits or significant litigation matters. b. Grants 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.

- 36 -



11. CONSTRUCTION COMMITMENTS

The District has entered into contracts for the construction or renovation of various facilities as follows: Expended to

Date Remaining

Commitment 6821 S. Main Street Demolition $ 29,810 $ 4,790 Lincoln Center Elevator Modernization 67,441 56,853 TOTAL CONSTRUCTION COMMITMENTS $ 97,251 $ 61,643

12. CHANGE IN ACCOUNTING PRINCIPLE AND PRIOR PERIOD ADJUSTMENT

In 2015, the District adopted GASB Statement No. 68, Accounting and Financial Reporting

for Pensions, an Amendment of GASB Statement No. 27.

The new standards require the District to recognize a net pension liability and related deferred inflows of resources and deferred outflows of resources in its government-wide and proprietary fund financial statements for its pension plan.

In 2017, the District made a determination to report information from the December 31, 2016 actuarial valuation from IMRF in order to continue its dedication to timely financial reporting. Therefore, the related amounts were restated for the prior year to reflect the net pension liability and deferred outflows of resources from the December 31, 2015 actuarial valuation. In addition, the allocation of the net pension liability and related deferred inflows of resources and deferred outflows of resources was restated.

The beginning net position reported in the government-wide financial statements has been restated as follows:


BEGINNING NET POSITION, AS PREVIOUSLY REPORTED $ 39,069,600 Net pension liability - IMRF (210,296) Deferred inflows of resources - IMRF 61,036 Deferred outflows of resources - IMRF 764,789 Correction of allocation - IMRF 274,628 BEGINNING NET POSITION, AS RESTATED $ 39,959,757

- 37 -



12. CHANGE IN ACCOUNTING PRINCIPLE AND PRIOR PERIOD ADJUSTMENT

(Continued)

Business-Type

Activities

Golf Course Fund

BEGINNING NET POSITION, AS PREVIOUSLY REPORTED $ 2,450,324 Net pension liability - IMRF (18,287) Deferred inflows of resources - IMRF 5,308 Deferred outflows of resources - IMRF 66,503 Correction of allocation - IMRF (274,628) BEGINNING NET POSITION, AS RESTATED $ 2,229,220

- 38 -

REQUIRED SUPPLEMENTARY INFORMATION



SCHEDULE OF REVENUES, EXPENDITURES ANDCHANGES IN FUND BALANCE - BUDGET AND ACTUAL

GENERAL FUND


Variance

Final Final Over (Under)

Appropriation Budget Actual Budget

REVENUES

TaxesProperty taxes 3,660,300$ 3,668,485$ 8,185$ Personal property replacement tax 84,000 106,666 22,666

Rentals 141,057 141,020 (37) Donations 8,600 10,207 1,607 Interest income 11,838 44,224 32,386 Miscellaneous 4,000 17,400 13,400

Total revenues 3,909,795 3,988,002 78,207

EXPENDITURES

General governmentPersonnel 1,994,993$ 2,060,814 1,935,616 (125,198) Contractual services 1,226,734 907,050 970,724 63,674 Commodities 823,014 402,754 429,984 27,230

Total expenditures 4,044,741$ 3,370,618 3,336,324 (34,294)

EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 539,177 651,678 112,501


Transfers in -$ 150,000 150,000 - Transfers (out) (1,277,946) (1,064,955) (1,064,955) - Disposal of capital assets - 1,659 1,659

Total other financing sources (uses) (1,277,946)$ (914,955) (913,296) 1,659

NET CHANGE IN FUND BALANCE (375,778)$ (261,618) 114,160$

FUND BALANCE, JANUARY 1 2,224,683

FUND BALANCE, DECEMBER 31 1,963,065$

(See independent auditor's report.)- 39 -




RECREATION FUND


Variance



REVENUES

TaxesProperty taxes 1,618,297$ 1,623,022$ 4,725$ Personal property replacement tax 84,000 85,618 1,618

Intergovernmental - 24,590 24,590 Charges for services 3,293,253 3,038,659 (254,594) Merchandise sales 94,810 102,455 7,645 Rentals 247,000 245,175 (1,825) Donations 83,500 51,471 (32,029) Interest income 6,800 23,917 17,117 Miscellaneous 98,125 39,598 (58,527)

Total revenues 5,525,785 5,234,505 (291,280)

EXPENDITURES

Culture and recreationPersonnel 3,163,232$ 2,902,887 2,828,399 (74,488) Contractual services 1,470,046 1,177,558 1,113,969 (63,589) Commodities 880,853 514,664 442,865 (71,799)


EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 930,676 849,272 (81,404)


Transfers (out) (741,304)$ (617,753) (647,753) (30,000)

Total other financing sources (uses) (741,304)$ (617,753) (647,753) (30,000)

NET CHANGE IN FUND BALANCE 312,923$ 201,519 (111,404)$




FISCAL YEAR ENDED DECEMBER 31, 2015 2016 2017

Actuarially determined contribution 674,024$ 660,489$ 681,372$

Contributions in relation to the actuarially determined contribution 674,024 660,489 681,372

CONTRIBUTION DEFICIENCY (EXCESS) -$ -$ -$

Covered-employee payroll 3,506,888$ 3,537,703$ 3,693,073$

Contributions as a percentage of covered-employee payroll 19.22% 18.67% 18.45%

Notes to Required Supplementary Information

The information presented was determined as part of the actuarial valuations as of January 1 of theprior fiscal year. Additional information as of the latest actuarial valuation presented is as follows:the actuarial cost method was entry-age normal; the amortization method was level percent of pay,closed and the amortization period was 27 years; the asset valuation method was five-year smoothedmarket; and the significant actuarial assumptions were an investment rate of return at 7.50% annually,projected salary increases assumption of 3.75% to 14.50% compounded annually and postretirementbenefit increases of 3.00% compounded annually.

Ultimately, this schedule should present information for the last ten years. However, until ten years ofinformation can be compiled, information will be presented for as many years as is available.

Last Three Fiscal Years


SCHEDULE OF EMPLOYER CONTRIBUTIONSILLINOIS MUNICIPAL RETIREMENT FUND



MEASUREMENT DATE DECEMBER 31, 2014 2015 2016

TOTAL PENSION LIABILITY

Service cost 376,830$ 392,069$ 384,121$ Interest 1,433,497 1,569,674 1,642,716 Changes of benefit terms - - - Differences between expected and actual experience 260,422 37,362 18,278 Changes of assumptions 736,345 27,860 (86,062) Benefit payments, including refunds of member contributions (945,740) (991,394) (1,042,801)

Net change in total pension liability 1,861,354 1,035,571 916,252

Total pension liability - beginning 19,423,261 21,284,615 22,320,186

TOTAL PENSION LIABILITY - ENDING 21,284,615$ 22,320,186$ 23,236,438$

PLAN FIDUCIARY NET POSITION

Contributions - employer 680,929$ 674,024$ 660,489$ Contributions - member 155,148 157,811 159,664 Net investment income 1,000,074 86,704 1,238,699 Benefit payments, including refunds of member contributions (945,740) (991,394) (1,042,801) Other (net transfers) 80,727 502,513 128,784

Net change in plan fiduciary net position 971,138 429,658 1,144,835

Plan fiduciary net position - beginning 16,449,481 17,420,619 17,850,277

PLAN FIDUCIARY NET POSITION - ENDING 17,420,619$ 17,850,277$ 18,995,112$

EMPLOYER'S NET PENSION LIABILITY 3,863,996$ 4,469,909$ 4,241,326$

Plan fiduciary net position as a percentage of the total pension liability 81.85% 79.97% 81.75%

Covered-employee payroll 3,515,319$ 3,506,888$ 3,537,703$

Employer's net pension liability as a percentage of the covered-employee payroll 109.92% 127.46% 119.89%

Notes to Required Supplementary Information

There was a change in assumptions related to the discount rate in 2015 and 2016.

There was a change in assumptions for the retirement age and mortality rates in 2014.

Ultimately, this schedule should present information for the last ten years. However, until ten years of information can becompiled, information will be presented for as many years as is available.



SCHEDULE OF CHANGES IN THE EMPLOYER'S

ILLINOIS MUNICIPAL RETIREMENT FUND

Last Three Fiscal Years

NET PENSION LIABILITY AND RELATED RATIOS




NOTES TO REQUIRED SUPPLEMENTARY INFORMATION

December 31, 2017

1. BUDGETS AND BUDGETARY ACCOUNTING The District follows these procedures in establishing the budgets reflected in the financial

statements: a. The Combined Budget and Appropriation Ordinance is prepared in tentative form by

the Executive Director, and is made available by the Park Secretary for public inspection 30 days prior to final Board action. A public hearing is held on the tentative Combined Budget and Appropriation Ordinance to obtain taxpayer comments.

b. The Combined Budget and Appropriation Ordinance must be enacted into law prior to

the end of the first quarter of the fiscal year (March 31). c. The Executive Director is authorized to approve overspending of budgeted line items

within any fund, and prepares recommendations to the Board of Park Commissioners for budget item changes.

d. The Board of Park Commissioners may:

• Amend the Budget and Appropriation Ordinance in the same manner as its original

enactment.

• Transfer among items of any fund not exceeding in the aggregate ten percent (10%) of the total amount appropriated in such fund.

• After six months of the fiscal year, by two-thirds vote, transfer any appropriation item it anticipates to be unexpended to any other appropriation item.

e. All appropriations lapse at year end. Expenditures may not exceed appropriations at

the fund level. f. Budgets for the General, Special Revenue, Debt Service and Capital Projects Funds

are adopted on a basis of anticipated revenues to be received in cash, and expenditures to be incurred, which basis does not differ materially from GAAP. The budget for the Golf Course, enterprise fund, is adopted on a basis consistent with GAAP, except for the inclusion of capital outlays as expenses, and the exclusion of depreciation and pension costs as expenses, where applicable. All budgets are prepared based on the annual fiscal year of the District. The District does not use the encumbrance method of accounting. Budgetary funds are controlled by an integrated budgetary accounting system, in accordance with various legal requirements which govern the District.

g. Budget amounts are as originally adopted by the Board of Park Commissioners.

- 43 -

DOWNERS GROVE PARK DISTRICT DOWNERS GROVE, ILLINOIS NOTES TO REQUIRED SUPPLEMENTARY INFORMATION (Continued)

2. EXCESS OF EXPENDITURES OVER APPROPRIATION Expenditures did not exceed appropriations in any fund for the year ended December 31,

2017.

- 44 -

COMBINING AND INDIVIDUAL FUND

FINANCIAL STATEMENTS AND SCHEDULES

MAJOR GOVERNMENTAL FUNDS

GENERAL FUND

The General Fund accounts for all financial resources of the District, except those accounted for

in another fund.

RECREATION FUND

The Recreation Fund accounts for expenditures for the various recreation programs sponsored by

the District. Expenditures are funded by a restricted tax levy and user fees.

DEBT SERVICE FUND

The Debt Service Fund accounts for the accumulation of restricted or assigned funds for the

periodic payment of principal and interest on general long-term debt.

CAPITAL PROJECTS FUND

The Capital Projects Fund is used to account for all resources used for the acquisition of capital

assets by the District, except those financed by Proprietary Funds, including general and

infrastructure capital assets.




DEBT SERVICE FUND


Variance



REVENUES

Property taxes 353,220$ 358,032$ 4,812$ Intergovernmental 86,369 86,788 419 Investment income 3,300 7,935 4,635 Miscellaneous - 9,020 9,020

Total revenues 442,889 461,775 18,886

EXPENDITURES

Debt servicePrincipal retirement 910,000 910,000 - Interest 566,102 566,103 1 Fiscal charges 4,068 2,336 (1,732)


EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (1,037,281) (1,016,664) 20,617


Transfers in 864,955 864,955 -

Total other financing sources (uses) 864,955 864,955 -

NET CHANGE IN FUND BALANCE (172,326)$ (151,709) 20,617$







CAPITAL PROJECTS FUND


Variance



REVENUES

Donations 600,000$ 623,318$ 23,318$ Investment income 950 4,261 3,311 Miscellaneous 45,010 64,586 19,576

Total revenues 645,960 692,165 46,205

EXPENDITURES

General governmentContractual services - 943 943

Capital outlay 1,731,298 1,195,256 (536,042)


EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (1,085,338) (504,034) 581,304


Transfers in 700,000 700,000 - Disposal of capital assets - 8,100 8,100

Total other financing sources (uses) 700,000 708,100 8,100

NET CHANGE IN FUND BALANCE (385,338)$ 204,066 589,404$




NONMAJOR GOVERNMENTAL FUNDS

SPECIAL REVENUE FUNDS

Special Revenue Funds - to account for the collection and disbursement of restricted, committed

or assigned monies for a specific purpose.

The Museum Fund is used to account for the operation of the District’s museum and natural

areas. Financing is provided from an annual property tax levy. Transactions include program

supervisors’ salaries and maintenance of the museum and natural areas.

The Special Recreation Fund is used to account for the expenditures in connection with the

District’s participation in the South East Association for Special Parks and Recreation, which

provides recreational programs for individuals with disabilities. Financing is provided from the

annual property tax levy. Transactions include member contributions and inclusion costs to

South East Association for Special Parks and Recreation.

The Illinois Municipal Retirement Fund is used to account for the activities resulting from the

District’s participation in the Illinois Municipal Retirement Fund. Financing is provided by a

specific annual property tax levy, which produces a sufficient amount to pay the District’s

contributions to the fund on behalf of the District’s employees. Transactions recorded are

payments to IMRF, property taxes received and interest earned.

The Audit Fund is used to account for the expenditures in connection with the District’s annual

financial and compliance audit, which is mandated by State statute. Financing is provided from

an annual property tax levy, the proceeds of which can only be used for this purpose.

Transactions consist of property taxes received and audit expenses.

The Social Security Fund is used to account for the activities resulting from the District’s Social

Security contributions. Financing is provided by a specific annual property tax levy, which

produces a sufficient amount to pay the District’s contributions to Social Security on behalf of

the District’s employees. Transactions recorded are payments to Social Security and property

taxes received.

The Insurance Liability Fund is used to account for the activities resulting from the District’s

insurance and risk management activities. Financing is provided from an annual property tax

levy. This fund records the insurance (fire, unemployment, vehicle, etc.) liabilities.

Illinois

Special Municipal

Museum Recreation Retirement

Cash and investments 530,369$ 41,437$ 420,942$ Receivables (net, where applicable, of allowances for uncollectibles)

Property taxes 247,500 487,179 601,920 Accounts 313 - -

Prepaid items 1,683 - - Interest receivable 1,280 - 1,599

TOTAL ASSETS 781,145 528,616 1,024,461


None - - -

Total deferred outflows of resources - - -

TOTAL ASSETS AND DEFERRED

OUTFLOWS OF RESOURCES 781,145$ 528,616$ 1,024,461$

LIABILITIES

Accounts payable 57,419$ 6,201$ -$ Accrued payroll 9,707 - 28,578 Unearned revenue 12,798 - -

Total liabilities 79,924 6,201 28,578


Unavailable revenue - property taxes 247,500 487,179 601,920

Total deferred inflows of resources 247,500 487,179 601,920

FUND BALANCES

Nonspendable - prepaid items 1,683 - - Restricted for museum operations 452,038 - - Restricted for audit - - - Restricted for employee benefits - - 393,963 Restricted for special recreation - 35,236 - Restricted for liability insurance - - -

Total fund balances 453,721 35,236 393,963

TOTAL LIABILITIES, DEFERRED INFLOWS

OF RESOURCES AND FUND BALANCES 781,145$ 528,616$ 1,024,461$



COMBINING BALANCE SHEETNONMAJOR GOVERNMENTAL FUNDS

December 31, 2017

RESOURCES AND FUND BALANCES

LIABILITIES, DEFERRED INFLOWS

ASSETS AND DEFERRED

OUTFLOWS OF RESOURCES

Special Revenue

- 47 -

Social Insurance

Audit Security Liability Total

15,691$ 229,149$ 206,084$ 1,443,672$

18,315 326,700 199,386 1,881,000 - - - 313 - - - 1,683 - - - 2,879

34,006 555,849 405,470 3,329,547

- - - -

- - - -

34,006$ 555,849$ 405,470$ 3,329,547$

-$ -$ 108,604$ 172,224$ - 12,978 - 51,263 - - - 12,798

- 12,978 108,604 236,285

18,315 326,700 199,386 1,881,000

18,315 326,700 199,386 1,881,000

- - - 1,683 - - - 452,038

15,691 - - 15,691 - 216,171 - 610,134 - - - 35,236 - - 97,480 97,480

15,691 216,171 97,480 1,212,262

34,006$ 555,849$ 405,470$ 3,329,547$

Special Revenue


Illinois

Special Municipal

Museum Recreation Retirement

REVENUES

Property taxes 351,905$ 443,128$ 637,864$ Interest income 2,015 - 3,539 Program fees 125,166 - - Donations 6,769 - - Merchandise sales 186 - - Miscellaneous 4,854 - -

Total revenues 490,895 443,128 641,403

EXPENDITURES

CurrentGeneral government - - 299,885 Culture and recreation 428,506 466,770 381,672

Total expenditures 428,506 466,770 681,557

EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 62,389 (23,642) (40,154) OTHER FINANCING SOURCES (USES)

Transfers in - 30,000 62,455 Transfers (out) (10,413) - -

Total other financing sources (uses) (10,413) 30,000 62,455

NET CHANGE IN FUND BALANCES 51,976 6,358 22,301

FUND BALANCES, JANUARY 1 401,745 28,878 371,662

FUND BALANCES, DECEMBER 31 453,721$ 35,236$ 393,963$

Special Revenue



COMBINING STATEMENT OF REVENUES, EXPENDITURESAND CHANGES IN FUND BALANCES

NONMAJOR GOVERNMENTAL FUNDS


- 49 -

Social Insurance

Audit Security Liability Total

19,933$ 362,626$ 201,628$ 2,017,084$ - 184 265 6,003 - - - 125,166 - - - 6,769 - - - 186 - - - 4,854

19,933 362,810 201,893 2,160,062

19,834 161,091 221,143 701,953 - 205,025 - 1,481,973

19,834 366,116 221,143 2,183,926

99 (3,306) (19,250) (23,864)

- 37,883 116,730 247,068 - - - (10,413)

- 37,883 116,730 236,655

99 34,577 97,480 212,791

15,592 181,594 - 999,471

15,691$ 216,171$ 97,480$ 1,212,262$

Special Revenue





MUSEUM FUND


Variance



REVENUES

MuseumProperty taxes 87,150$ 88,171$ 1,021$ Program fees 11,900 8,445 (3,455) Donations 2,400 1,305 (1,095) Interest income 175 36 (139) Merchandise sales 600 186 (414) Miscellaneous 200 15 (185)

Lyman WoodsProperty taxes 261,450 263,734 2,284 Program fees 86,900 116,721 29,821 Donations 1,750 5,464 3,714 Interest income 365 1,979 1,614 Miscellaneous 4,000 4,839 839

Total revenues 456,890 490,895 34,005

EXPENDITURES

Culture and recreationPersonnel 353,863$ 337,086 304,366 (32,720) Contractual services 102,136 62,571 50,924 (11,647) Commodities 121,388 81,498 73,216 (8,282)

Total expenditures 577,387 481,155 428,506 (52,649)

EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (24,265) 62,389 86,654


Transfers (out) (12,496) (10,413) (10,413) -

Total other financing sources (uses) (12,496) (10,413) (10,413) -

NET CHANGE IN FUND BALANCE (34,678)$ 51,976 86,654$ FUND BALANCE, JANUARY 1 401,745

FUND BALANCE, DECEMBER 31 453,721$





SPECIAL RECREATION FUND


Variance



REVENUES

Property taxes 440,232$ 443,128$ 2,896$

Total revenues 440,232 443,128 2,896

EXPENDITURES

Culture and recreationInclusion services 24,000$ 20,000 42,278 22,278 Maintenance, repair and renovation supplies 72,398 60,332 53,002 (7,330) Payment to SEASPAR 435,600 363,000 371,490 8,490

Total expenditures 531,998 443,332 466,770 23,438

EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (3,100) (23,642) (20,542)


Transfers in - 30,000 30,000

Total other financing sources (uses) - 30,000 30,000

NET CHANGE IN FUND BALANCE (3,100)$ 6,358 9,458$ FUND BALANCE, JANUARY 1 28,878






ILLINOIS MUNICIPAL RETIREMENT FUND


Variance



REVENUES

Property taxes 635,448$ 637,864$ 2,416$ Interest income 360 3,539 3,179

Total revenues 635,808 641,403 5,595

EXPENDITURES

General governmentPersonnel - IMRF payments 303,600 299,804 (3,796) Commodities - 81 81

Culture and recreationPersonnel - IMRF payments 386,400 381,569 (4,831) Commodities - 103 103

Total expenditures 828,000$ 690,000 681,557 (8,443)

EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (54,192) (40,154) 14,038


Transfers in 57,000 62,455 5,455


NET CHANGE IN FUND BALANCE 2,808$ 22,301 19,493$

FUND BALANCE, JANUARY 1 371,662






AUDIT FUND


Variance



REVENUES

Property taxes 19,920$ 19,933$ 13$

Total revenues 19,920 19,933 13

EXPENDITURES

General governmentAudit fees 19,400 19,400 - Professional and consultants 500 434 (66)

Total expenditures 23,880$ 19,900 19,834 (66)

NET CHANGE IN FUND BALANCE 20$ 99 79$







SOCIAL SECURITY FUND


Variance



REVENUES

Property taxes 361,050$ 362,626$ 1,576$ Interest income 200 184 (16)

Total revenues 361,250 362,810 1,560

EXPENDITURES

General governmentPersonnel - FICA payments 171,600 161,091 (10,509)

Culture and recreationPersonnel - FICA payments 218,400 205,025 (13,375)

Total expenditures 468,000$ 390,000 366,116 (23,884)

EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (28,750) (3,306) 25,444


Transfers in 37,700 37,883 183

Total other financing sources (uses) 37,700 37,883 183








INSURANCE LIABILITY FUND


Variance



REVENUES

Property taxes 199,200$ 201,628$ 2,428$ Interest income 320 265 (55)

Total revenues 199,520 201,893 2,373

EXPENDITURES

General government 210,401 221,143 10,742

Total expenditures 252,481$ 210,401 221,143 10,742

EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (10,881) (19,250) (8,369)


Transfers in 18,000 116,730 98,730



FUND BALANCE, JANUARY 1 -



ENTERPRISE FUND

Enterprise Funds are used to account for operations that are financed and operated in a manner

similar to private business enterprises where the intent is that costs of providing goods or services

to the general public on a continuing basis be financed or recovered primarily through user charges;

or where it has been decided that periodic determination of revenues earned, expenses incurred

and/or net income is appropriate for capital maintenance, public policy, management control,

accountability or other purpose.

The Golf Course Fund is used to account for the operations of a 90-acre golf course. Operations

include golfing activities, golf equipment and related merchandise sales and food and beverage

sales. The cost of operations is recovered through user charges.



SCHEDULE OF REVENUES, EXPENSES ANDCHANGES IN NET POSITION - BUDGET AND ACTUAL

GOLF COURSE FUND


Variance



OPERATING REVENUES

Program fees 828,567$ 790,241$ (38,326)$ Merchandise sales 106,319 108,318 1,999 Rentals 134,619 146,881 12,262 Miscellaneous 7,200 15,662 8,462

Total operating revenues 1,076,705 1,061,102 (15,603)

OPERATING EXPENSES

Personnel costs 591,905$ 563,554 526,217 (37,337) Contractual services 171,431 104,653 109,003 4,350 Commodities 257,315 182,335 185,149 2,814 Capital outlay 139,708 116,423 43,996 (72,427)

Total operating expenses 1,160,359$ 966,965 864,365 (102,600)

OPERATING INCOME 109,740 196,737 86,997

NON-OPERATING REVENUES (EXPENSES)

Interest income 720 4,566 3,846

Total non-operating revenues (expenses) 720 4,566 3,846

INCOME BEFORE TRANSFERS 110,460 201,303 90,843

TRANSFERS

Transfers (out) (161,441)$ (134,534) (134,172) 362

Total transfers (161,441)$ (134,534) (134,172) 362

CHANGE IN NET POSITION - BUDGETARY BASIS (24,074)$ 67,131 91,205$

ADJUSTMENTS TO GAAP BASIS

Depreciation (130,068) Pension expense adjustment 402

Total adjustments to GAAP basis (129,666)

CHANGE IN NET POSITION - GAAP BASIS (62,535)

NET POSITION, JANUARY 1 2,450,324

Change in accounting principle/prior period adjustment (221,104)

NET POSITION, JANUARY 1, RESTATED 2,229,220

NET POSITION, DECEMBER 31 2,166,685$


LONG-TERM DEBT REQUIREMENTS

Date of Issue November 23, 2010Date of Maturity December 15, 2034Authorized Issue 6,000,000$ Denomination of Bonds 5,000$ Interest Rates 1.20% to 6.25%Interest Dates June 15 and December 15Principal Maturity Due December 15Payable at U.S. Bank National Association

Fiscal Year Principal Interest Total Bond Rebate

2018 185,000$ 260,403$ 445,403$ 91,141$ 2019 190,000 254,020 444,020 88,907 2020 200,000 246,705 446,705 86,347 2021 210,000 238,905 448,905 83,617 2022 225,000 230,295 455,295 80,603 2023 235,000 220,620 455,620 77,217 2024 245,000 210,045 455,045 73,516 2025 260,000 198,407 458,407 69,442 2026 275,000 185,408 460,408 64,893 2027 290,000 171,107 461,107 59,887 2028 305,000 155,303 460,303 54,356 2029 325,000 138,222 463,222 48,378 2030 345,000 119,698 464,698 41,894 2031 365,000 99,687 464,687 34,891 2032 385,000 76,875 461,875 26,906 2033 410,000 52,813 462,813 18,484 2034 435,000 27,187 462,187 9,516

TOTAL 4,885,000$ 2,885,700$ 7,770,700$ 1,009,995$

CURRENT AND LONG-TERM PRINCIPAL AND INTEREST REQUIREMENTS




TAXABLE GENERAL OBLIGATION LIMITED TAX PARK BONDS OF 2010

December 31, 2017


Date of Issue February 15, 2013Date of Maturity December 15, 2019Authorized Issue 3,175,000$ Denomination of Bonds 5,000$ Interest Rates 2.00%Interest Dates June 15 and December 15Principal Maturity Due December 15Payable at UMB Bank

Fiscal Year Principal Interest Total

2018 475,000$ 19,300$ 494,300$ 2019 490,000 9,800 499,800

TOTAL 965,000$ 29,100$ 994,100$





GENERAL OBLIGATION REFUNDING PARK BONDS OF 2013A

December 31, 2017


Date of Issue July 23, 2015Date of Maturity December 15, 2028Authorized Issue 3,405,000$ Denomination of Bonds 5,000$ Interest Rates 2.00% to 4.00%Interest Dates June 15 and December 15Principal Maturity Due December 15Payable at UMB Bank


2018 275,000$ 94,388$ 369,388$ 2019 290,000 88,887 378,887 2020 295,000 83,087 378,087 2021 305,000 76,450 381,450 2022 310,000 67,300 377,300 2023 320,000 58,000 378,000 2024 335,000 45,200 380,200 2025 355,000 31,800 386,800 2026 140,000 17,600 157,600 2027 145,000 12,000 157,000 2028 155,000 6,200 161,200

TOTAL 2,925,000$ 580,912$ 3,505,912$





GENERAL OBLIGATION REFUNDING PARK BONDS OF 2015A

December 31, 2017


Date of Issue July 23, 2015Date of Maturity December 30, 2034Authorized Issue 4,390,000$ Denomination of Bonds 5,000$ Interest Rates 3.00% to 4.00%Interest Dates June 30 and December 30Principal Maturity Due December 30Payable at UMB Bank


2018 -$ 171,800$ 171,800$ 2019 - 171,800 171,800 2020 125,000 171,800 296,800 2021 125,000 168,050 293,050 2022 130,000 164,300 294,300 2023 135,000 160,400 295,400 2024 140,000 155,000 295,000 2025 145,000 149,400 294,400 2026 270,000 143,600 413,600 2027 280,000 132,800 412,800 2028 290,000 121,600 411,600 2029 415,000 110,000 525,000 2030 430,000 93,400 523,400 2031 450,000 76,200 526,200 2032 465,000 58,200 523,200 2033 485,000 39,600 524,600 2034 505,000 20,200 525,200

TOTAL 4,390,000$ 2,108,150$ 6,498,150$





GENERAL OBLIGATION LIMITED TAX PARK BONDS OF 2015B

December 31, 2017


STATISTICAL SECTION

This part of the Downers Grove 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 says 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 been changed over

time.

62-73

Revenue Capacity

These schedules contain information to help the reader assess the District’s

most significant local revenue source, the property tax.

74-79

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.

80-84

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.

85-87

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.

88-89

Sources: Unless otherwise noted, the information in these schedules is derived from the

comprehensive annual financial reports for the relevant year.

Fiscal Year 2009 2010 2011 2012

GOVERNMENTAL ACTIVITIES

Net investment in capital assets 31,634,604$ 31,990,674$ 31,458,086$ 34,689,616$ Restricted 1,395,369 1,614,872 1,894,536 2,046,139 Unrestricted 939,403 588,781 1,096,073 589,655

TOTAL GOVERNMENTAL ACTIVITIES 33,969,376$ 34,194,327$ 34,448,695$ 37,325,410$

BUSINESS-TYPE ACTIVITIES

Net investment in capital assets 2,619,502$ 2,768,405$ 2,661,862$ 2,520,575$ Unrestricted 197,334 264,071 249,123 244,640

TOTAL BUSINESS-TYPE ACTIVITIES 2,816,836$ 3,032,476$ 2,910,985$ 2,765,215$

PRIMARY GOVERNMENT

Net investment in capital assets 34,254,106$ 34,759,079$ 34,119,948$ 37,210,191$ Restricted 1,395,369 1,614,872 1,894,536 2,046,139Unrestricted 1,136,737 852,852 1,345,196 834,295

TOTAL PRIMARY GOVERNMENT 36,786,212$ 37,226,803$ 37,359,680$ 40,090,625$

* For the seven months ended December 31, 2014.

Data Source

Audited Financial Statements



NET POSITION

Last Ten Fiscal Years

- 62 -

2013 2014 2014* 2015 2016 2017

34,808,024$ 35,059,798$ 37,043,781$ 36,367,550$ 35,614,465$ 35,986,725$ 1,487,499 1,591,647 2,837,941 3,443,983 4,037,753 2,241,591 1,502,083 1,380,354 2,334,036 (1,355,913) (582,618) 2,211,774

37,797,606$ 38,031,799$ 42,215,758$ 38,455,620$ 39,069,600$ 40,440,090$

2,367,755$ 2,256,242$ 2,225,490$ 2,136,530$ 2,054,350$ 2,013,781$ 250,926 272,369 333,643 363,306 395,974 152,904

2,618,681$ 2,528,611$ 2,559,133$ 2,499,836$ 2,450,324$ 2,166,685$

37,175,779$ 37,316,040$ 39,269,271$ 38,504,080$ 37,668,815$ 38,000,506$ 1,487,499 1,591,647 2,837,941 3,443,983 4,037,753 2,241,5911,753,009 1,652,723 2,667,679 (992,607) (186,644) 2,364,678

40,416,287$ 40,560,410$ 44,774,891$ 40,955,456$ 41,519,924$ 42,606,775$

- 63 -

Fiscal Year 2009 2010 2011 2012

EXPENSES

Governmental activitiesGeneral government 3,542,927$ 2,755,641$ 2,698,303$ 2,471,484$ Culture and recreation 6,416,350 6,308,502 6,519,986 6,861,924 Interest and fiscal charges 565,821 485,733 475,867 596,221

Total governmental activities expenses 10,525,098 9,549,876 9,694,156 9,929,629

Business-type activitiesGolf course 915,655 978,049 1,028,925 988,748 Swimming pool 124,601 123,221 - -

Total business-type activities expenses 1,040,256 1,101,270 1,028,925 988,748

TOTAL PRIMARY GOVERNMENT

EXPENSES 11,565,354$ 10,651,146$ 10,723,081$ 10,918,377$

PROGRAM REVENUES

Governmental activitiesCharges for services

General government 103,019$ 98,522$ 112,209$ 117,016$ Culture and recreation 2,549,130 2,607,087 2,724,010 2,726,944

Operating grants and contributions 29,041 30,599 30,858 44,366 Capital grants and contributions 1,223,461 2,284 4,567 2,588,771

Total governmental activities program revenues 3,904,651 2,738,492 2,871,644 5,477,097

Business-type activitiesCharges for services

Golf course 997,421 1,033,425 951,669 967,814 Swimming pool 124,541 123,203 - -

Total business-type activities program revenues 1,121,962 1,156,628 951,669 967,814


PROGRAM REVENUES 5,026,613$ 3,895,120$ 3,823,313$ 6,444,911$

NET REVENUE (EXPENSE)

Governmental activities (6,620,447)$ (6,811,384)$ (6,822,512)$ (4,452,532)$ Business-type activities 81,706 55,358 (77,256) (20,934)


NET REVENUE (EXPENSE) (6,538,741)$ (6,756,026)$ (6,899,768)$ (4,473,466)$



CHANGE IN NET POSITION


- 64 -

2013 2014 2014* 2015 2016 2017

3,006,797$ 3,162,526$ 2,115,553$ 4,077,480$ 3,250,366$ 4,298,855$ 6,614,135 6,780,296 4,429,283 7,290,679 7,942,506 7,354,217

573,523 490,105 274,468 695,947 561,368 537,276

10,194,455 10,432,927 6,819,304 12,064,106 11,754,240 12,190,348

977,430 945,868 621,984 952,197 977,642 994,031 - - - - - -

977,430 945,868 621,984 952,197 977,642 994,031

11,171,885$ 11,378,795$ 7,441,288$ 13,016,303$ 12,731,882$ 13,184,379$

120,524$ 124,025$ 82,175$ 133,737$ 137,167$ 141,020$ 2,832,294 2,880,947 1,833,837 3,157,018 3,426,431 3,515,708

41,752 41,400 29,509 33,863 39,619 179,825 433,648 33,522 1,407,522 197,305 613,447 623,318

3,428,218 3,079,894 3,353,043 3,521,923 4,216,664 4,459,871

910,351 930,752 709,438 1,021,410 1,070,374 1,045,440 - - - - - -

910,351 930,752 709,438 1,021,410 1,070,374 1,045,440

4,338,569$ 4,010,646$ 4,062,481$ 4,543,333$ 5,287,038$ 5,505,311$

(6,766,237)$ (7,353,033)$ (3,466,261)$ (8,542,183)$ (7,537,576)$ (7,730,477)$ (67,079) (15,116) 87,454 69,213 92,732 51,409

(6,833,316)$ (7,368,149)$ (3,378,807)$ (8,472,970)$ (7,444,844)$ (7,679,068)$

- 65 -

Fiscal Year 2009 2010 2011 2012

GENERAL REVENUES AND OTHER

CHANGES IN NET POSITION

Governmental activitiesTaxes

Property 6,913,481$ 6,911,690$ 6,723,873$ 6,779,721$ Replacement taxes 171,250 142,192 175,409 154,706

Investment earnings 87,668 17,657 14,152 33,420 Miscellaneous 119,165 118,408 110,484 227,350 Transfers 74,540 (153,612) 52,962 134,050

Total governmental activities general revenues 7,366,104 7,036,335 7,076,880 7,329,247

Business-type activitiesInvestment earnings 3,774 950 1,194 2,081 Miscellaneous 7,320 5,720 7,533 7,133 Transfers (74,540) 153,612 (52,962) (134,050)

Total business-type activities general revenues (63,446) 160,282 (44,235) (124,836)

TOTAL PRIMARY GOVERNMENT 7,302,658$ 7,196,617$ 7,032,645$ 7,204,411$

CHANGE IN NET POSITION

Governmental activities 745,657$ 224,951$ 254,368$ 2,876,715$ Business-type activities 18,260 215,640 (121,491) (145,770)


CHANGE IN NET POSITION 763,917$ 440,591$ 132,877$ 2,730,945$


Data Source




CHANGE IN NET POSITION (Continued)


- 66 -

2013 2014 2014* 2015 2016 2017

6,785,884$ 7,107,724$ 7,294,754$ 7,444,486$ 7,588,197$ 7,666,623$ 163,740 171,604 67,406 161,946 162,148 192,284

17,027 21,457 13,973 16,439 38,668 86,340 184,179 202,520 213,661 202,813 223,524 131,391

87,603 83,921 60,426 146,333 139,019 134,172

7,238,433 7,587,226 7,650,220 7,972,017 8,151,556 8,210,810

1,289 1,079 588 765 1,549 4,566 6,859 7,888 2,906 17,058 (4,774) 15,662

(87,603) (83,921) (60,426) (146,333) (139,019) (134,172)

(79,455) (74,954) (56,932) (128,510) (142,244) (113,944)

7,158,978$ 7,512,272$ 7,593,288$ 7,843,507$ 8,009,312$ 8,096,866$

472,196$ 234,193$ 4,183,959$ (570,166)$ 613,980$ 480,333$ (146,534) (90,070) 30,522 (59,297) (49,512) (62,535)

325,662$ 144,123$ 4,214,481$ (629,463)$ 564,468$ 417,798$

- 67 -

Fiscal Year 2009 2010 2011 2012

GENERAL FUND

Nonspendable -$ -$ -$ -$ Committed - - - - Unassigned 302,377 375,785 510,580 658,651

TOTAL GENERAL FUND 302,377$ 375,785$ 510,580$ 658,651$

ALL OTHER GOVERNMENTAL FUNDS

Nonspendable -$ 4,399$ -$ -$ Restricted

Recreation 323,564 581,934 967,282 1,192,150 Debt service 987,012 985,545 983,431 933,550 Museum 102,774 87,450 148,672 114,877 Audit 11,671 6,987 6,871 5,104 Employee benefit 129,117 101,136 77,765 64,508 Special recreation - - - - Liability insurance - - - -

Committed - - - - Assigned

Recreation - - - - Capital projects 1,429,440 649,290 4,400,429 287,047

TOTAL ALL OTHER

GOVERNMENTAL FUNDS 2,983,578$ 2,416,741$ 6,584,450$ 2,597,236$

TOTAL GOVERNMENTAL FUNDS 3,285,955$ 2,792,526$ 7,095,030$ 3,255,887$


Data Source




FUND BALANCES OF GOVERNMENTAL FUNDS


- 68 -

2013 2014 2014* 2015 2016 2017

-$ 2,743$ 47,462$ 23,596$ 21,679$ 49,242$ 654,579 294,207 294,917 - - - 627,017 699,619 1,830,126 2,038,617 2,203,004 1,913,823

1,281,596$ 996,569$ 2,172,505$ 2,062,213$ 2,224,683$ 1,963,065$

4,516$ 30,716$ 3,330$ 15,595$ 9,543$ 6,883$

1,211,775 1,281,105 1,764,872 1,857,555 1,872,473 - 283,927 257,982 295,797 813,648 1,182,721 1,031,012 125,728 151,434 323,851 364,142 401,263 452,038

4,410 6,387 11,526 13,880 15,592 15,691 82,208 111,217 446,481 463,732 553,256 610,134

862 6,874 16,564 24,912 28,878 35,236 - - - - - 97,480

325,000 - - - - -

- - - - - 2,077,853 184,029 669,490 391,383 437,805 1,029,486 1,233,552

2,222,455$ 2,515,205$ 3,253,804$ 3,991,269$ 5,093,212$ 5,559,879$

3,504,051$ 3,511,774$ 5,426,309$ 6,053,482$ 7,317,895$ 7,522,944$

- 69 -

Fiscal Year 2009 2010 2011 2012

REVENUES

Taxes 6,922,264$ 6,952,259$ 6,732,570$ 6,902,237$ Intergovernmental - - - - Charges for services 2,380,751 2,445,006 2,549,641 2,549,959 Merchandise sales 44,785 34,702 28,727 28,346 Rentals 226,613 225,901 257,851 265,655 Investment income 81,513 16,389 13,880 32,622 Grants/donations 1,252,502 32,883 35,425 145,410 Miscellaneous 119,165 118,408 110,484 121,909

Total revenues 11,027,593 9,825,548 9,728,578 10,046,138

EXPENDITURES

CurrentGeneral government 2,927,375 2,959,252 2,891,446 2,922,700 Culture and recreation 4,909,976 4,755,950 4,785,467 4,680,289

Debt servicePrincipal retirement 455,000 470,000 555,000 725,000 Interest and fiscal charges 281,103 350,632 335,356 619,093 Bond issuance costs - - - -

Capital outlay 4,024,737 1,633,361 2,894,297 5,078,549

Total expenditures 12,598,191 10,169,195 11,461,566 14,025,631

EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (1,570,598) (343,647) (1,732,988) (3,979,493)


Transfers in 3,525,172 2,752,105 2,526,506 2,685,416 Transfer (out) (3,472,512) (2,924,217) (2,469,364) (2,572,866) Proceeds from sale of capital assets 27,750 22,330 20,350 27,800 Installment contracts issued - - - - Bond issued 2,000,000 - 6,000,000 - Premium on bond issued - - - - Discount on bonds issued (3,767) - (42,000) - Payment to refunding escrow agent - - - -

Total other financing sources (uses) 2,076,643 (149,782) 6,035,492 140,350

NET CHANGE IN FUND BALANCES 506,045$ (493,429)$ 4,302,504$ (3,839,143)$

DEBT SERVICE AS A PERCENTAGE OF

NONCAPITAL EXPENDITURES 8.18% 9.30% 10.23% 14.70%


Data Source




CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS


- 70 -

2013 2014 2014* 2015 2016 2017

6,872,007$ 7,189,748$ 7,272,031$ 7,547,523$ 7,660,232$ 7,858,907$ - - - - - 111,378

2,612,190 2,664,713 1,653,563 2,857,718 3,094,576 3,163,825 22,418 24,881 21,758 71,213 94,360 102,641

318,210 315,378 240,691 361,824 374,662 386,195 16,303 20,815 13,599 15,312 38,134 86,340

475,400 74,922 1,429,371 231,168 653,066 691,765 85,378 112,275 123,610 113,576 135,333 135,458

10,401,906 10,402,732 10,754,623 11,198,334 12,050,363 12,536,509

2,507,264 2,642,161 1,778,593 3,369,569 3,383,669 4,039,220 5,242,336 5,292,312 3,484,480 5,777,121 6,005,456 5,867,206

745,000 790,000 895,433 793,930 972,120 910,000 579,729 499,531 488,037 519,946 669,144 568,439

55,535 - - - - - 1,129,767 1,240,926 2,486,454 4,986,369 408,880 1,195,256

10,259,631 10,464,930 9,132,997 15,446,935 11,439,269 12,580,121

142,275 (62,198) 1,621,626 (4,248,601) 611,094 (43,612)

2,670,885 2,290,493 1,424,579 2,046,259 2,150,413 1,962,023 (2,624,817) (2,227,572) (1,378,153) (1,754,589) (2,029,394) (1,723,121)

1,940 7,000 - 8,114 532,300 9,759 - - 246,483 - - -

3,175,000 - - 7,795,000 - - 98,347 - - 285,865 - -

- - - - - - (3,215,466) - - (3,504,875) - -

105,889 69,921 292,909 4,875,774 653,319 248,661

248,164$ 7,723$ 1,914,535$ 627,173$ 1,264,413$ 205,049$

14.34% 13.86% 20.34% 12.49% 14.36% 12.91%

- 71 -

Personal

Fiscal Property Total

Year Property** Replacement Taxes

2009 6,913,481$ 171,250$ 7,084,731$ 2010 6,911,690 142,192 7,053,882 2011 6,723,873 175,409 6,899,282 2012 6,779,721 154,706 6,934,427 2013 6,785,884 163,740 6,949,624 2014 7,107,724 171,604 7,279,328

2014*** 7,294,754 67,406 7,362,160 2015 7,444,487 161,946 7,606,433 2016 7,588,197 162,148 7,750,345 2017 7,666,623 192,284 7,858,907

* Accrual Basis of Accounting

***For the seven months ended December 31, 2014.

** Property taxes received by the Governmental Activities (per GASB 34) includes taxesreceived by the Insurance Liability Fund.

Taxes



GOVERNMENTAL ACTIVITIES TAX REVENUES BY SOURCE -

Last Ten Fiscal Years*

ACCRUAL BASIS OF ACCOUNTING

- 72 -

Personal

Fiscal Property Total

Year Property** Replacement Taxes

2009 6,751,015$ 171,250$ 6,922,265$ 2010 6,810,067 142,192 6,952,259 2011 6,557,161 175,409 6,732,570 2012 6,642,091 154,706 6,796,797 2013 6,609,466 163,740 6,773,206 2014 6,297,899 171,604 6,469,503

2014*** 7,114,574 67,406 7,181,980 2015 7,296,341 161,946 7,458,287 2016 7,409,893 162,148 7,572,041 2017 7,464,995 192,284 7,657,279

*Modified Accrual Basis of Accounting

***For the seven months ended December 31, 2014.

** Property taxes received by the Governmental Activities (per GASB 34) excludes taxesreceived by the Insurance Liability Fund.



Taxes

GOVERNMENTAL ACTIVITIES TAX REVENUES BY SOURCE -

Last Ten Fiscal Years*

MODIFIED ACCRUAL BASIS OF ACCOUNTING

- 73 -

Total Estimated Assessed

Tax Taxable Total Actual Value as a

Fiscal Levy Residential Commercial Assessed Direct Tax Taxable Percentage of

Year (1) Year Property Property Value Rate Value (2) Actual Value

5/31/2010 2008 1,929,079$ 563,590$ 2,492,669$ 0.2781 7,478,007$ 33.33%

5/31/2011 2009 1,938,540 554,427 2,492,967 0.2699 7,478,901 33.33%

5/31/2012 2010 1,831,148 517,009 2,348,157 0.2900 7,044,471 33.33%

5/31/2013 2011 1,700,876 509,172 2,210,048 0.3077 6,630,144 33.33%

5/31/2014 2012 1,596,448 478,628 2,075,076 0.3434 6,225,228 33.33%

12/31/2014 2013 1,534,864 445,822 1,980,686 0.3691 5,942,055 33.33%

12/31/2015 2014 1,540,716 444,523 1,985,239 0.3765 5,955,717 33.33%

12/31/2016 2015 1,629,353 465,907 2,095,260 0.3624 6,285,780 33.33%

12/31/2017 2016 1,750,760 424,742 2,175,502 0.3425 6,728,380 33.33%

12/31/2018 2017 N/A N/A N/A N/A N/A 33.33%

N/A - Not available at the time the report was printed.

Data Source

DuPage County Clerk's Office



ASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY


Note: The tax on personal property was abolished in 1981 and replaced with tax on business income, which the Districtreceives as a personal property replacement tax.

Real Property

(in thousands)

(1) Effective June 1, 2014, the District's fiscal year changed to a year ending December 31st. FY 2014 will be from June 1,2014 through December 31, 2014 and, thereafter, fiscal year will be January 1 through December 31.

(2) Assessed value is set by the County Assessor on an annual basis. The assessment level is then adjusted by the state witha county multiplier, based on the factor needed to bring the average prior three years' level up to 33-1/3% of the marketvalue. Every four years, there is a quadrennial assessment, when all property is reassessed.

- 74 -

Tax Levy Year 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Fiscal Year 2009-10 2010-11 2011-12 2012-13 2013-14 2014 (2) 2015 2016 2017 2018

Downers Grove Park District

General Fund 0.1380 0.1311 0.1353 0.1422 0.1623 0.1880 0.1835 0.1778 0.1639 N/ASpecial Revenue Funds 0.1360 0.1321 0.1341 0.1422 0.1559 0.1545 0.1676 0.1591 0.1536 N/AInternal Service Fund 0.0041 0.0067 0.0059 0.0080 0.0087 0.0091 0.0075 0.0085 0.0090 N/ADebt Service Fund - - 0.0147 0.0153 0.0165 0.0175 0.0179 0.0170 0.0160 N/A

Total 0.2781 0.2699 0.2900 0.3077 0.3434 0.3691 0.3765 0.3624 0.3425 -

Village (1)

Village of Downers Grove 0.4423 0.4952 0.5625 0.5787 0.5202 0.5743 0.5645 0.5753 0.5596 N/AVillage of Downers Grove Library 0.1773 0.1832 0.1966 0.2136 0.2324 0.2502 0.2612 0.2407 0.2202 N/ADowners Grove Sanitary District 0.0301 0.0305 0.0336 0.0363 0.0405 0.0436 0.0448 0.0434 0.0413 N/ADowners Grove Special Service Area I None None None None None None None None None NoneDowners Grove Special Service Area II 1.5000 1.5000 1.5000 1.5000 1.5000 1.5000 1.5000 1.5000 1.5000 N/ADowners Grove Special Service Area III 0.3140 0.3151 0.3366 0.3345 None None None None None NoneDowners Grove Special Service Area IV None None None None None None None None None NoneDowners Grove Special Service Area V None None None None None None None None None NoneDowners Grove Special Service Area VI None None None None None 0.2950 0.2680 0.2430 0.2477 N/ADowners Grove Special Service Area VII None None None None None None None None None None

School Districts (1)

Grade School 44 2.7445 2.8490 3.1767 3.5118 3.9416 4.2995 4.4326 4.3039 4.1201 N/AGrade School 58 1.5713 1.6304 1.6991 1.8851 2.0981 2.2613 2.3051 2.2175 2.0984 N/AGrade School 61 2.2637 2.2787 2.4880 2.7152 3.0860 3.3089 3.4342 3.3948 3.2342 N/AGrade School 66 1.8362 1.8597 2.0257 2.1232 2.3466 2.5542 2.3714 2.3811 2.2699 N/AGrade School 68 3.2444 3.2882 3.6712 3.9744 4.4453 4.8704 5.0138 4.8242 4.5926 N/AGrade School 89 2.4132 2.4238 2.6035 2.8555 3.1426 3.3612 3.5149 3.5010 3.3789 N/AHigh School District 87 1.6507 1.6749 1.8378 2.0199 2.2868 2.4877 2.5824 2.5173 2.4030 N/AHigh School District 99 1.4214 1.4679 1.6105 1.7271 1.9209 2.0729 2.1079 2.0666 1.9648 N/AHigh School District 201 3.2942 3.3568 3.7139 3.9381 4.5510 4.8983 5.2246 5.0566 4.8256 N/AHigh School District 202 3.7049 3.7441 4.0830 4.3929 4.8122 5.1761 5.2969 5.2792 5.0025 N/ACollege of DuPage Community College 502 0.1858 0.2127 0.2349 0.2495 0.2681 0.2956 0.2975 0.2786 0.2626 N/A

DuPage County including Forest Preserve (1)

County of DuPage 0.1557 0.1554 0.1659 0.1773 0.1929 0.2040 0.2057 0.1971 0.1848 N/ADuPage County Forest Preserve 0.1206 0.1217 0.1321 0.1414 0.1542 0.1657 0.1691 0.1622 0.1514 N/ADuPage Airport Authority 0.0160 0.0148 0.0158 0.0169 0.0168 0.0178 0.0196 0.0188 0.0176 N/A

All Others (1)

Milton Township 0.0902 0.0907 0.0972 0.1057 0.1159 0.1235 0.1277 0.1253 0.1205 N/AYork Township 0.0644 0.0660 0.0737 0.0810 0.0928 0.1017 0.1049 0.1002 0.0952 N/ADowners Grove Township 0.0633 0.0638 0.0701 0.0766 0.0855 0.0917 0.0942 0.0918 0.0874 N/ALisle Township 0.0929 0.0933 0.1019 0.1096 0.0914 0.1250 0.1279 0.1260 0.1202 N/ACity of Darien 0.2210 0.2277 0.2441 0.2599 0.2208 0.2999 0.3068 0.3048 0.2917 N/AVillage of Woodridge 0.2337 0.2336 0.2568 0.2769 0.2959 0.3172 0.3172 0.3066 0.2887 N/A

Jurisdiction


DIRECT AND OVERLAPPING PROPERTY TAX RATES (1)

Last Ten Tax Levy Years


- 75 -

Tax Levy Year 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Fiscal Year 2009-10 2010-11 2011-12 2012-13 2013-14 2014 (2) 2015 2016 2017 2018

All Others (1) (Continued)

Darien-Woodridge Fire Protection District 0.4519 0.4552 0.4972 0.5407 0.5878 0.6323 0.6420 0.6398 0.6144 N/ALisle-Woodridge Fire Protection District 0.5969 0.6105 0.6682 0.7187 0.7920 0.8540 0.8727 0.8652 0.8411 N/AWestmont Surface Water Protection District #1 0.0480 0.0052 None None None None None None None NoneVillage of Westmont 0.4430 0.5375 0.6290 0.6654 0.7550 0.8145 0.8515 0.8453 0.8069 N/AVillage of Westmont Library 0.1811 0.1840 0.1900 0.1957 0.2149 0.2321 0.2429 0.2414 0.2307 N/ALisle Library District 0.3053 0.3114 0.3413 0.3675 0.4035 0.4339 0.4433 0.4390 0.4140 N/AIndian Prairie Library 0.1445 0.1467 0.1606 0.1760 0.1995 0.1843 0.1924 0.1892 0.1824 N/AYork Township Special Police District 0.0145 0.0155 0.0179 0.0221 0.0253 0.0286 0.0407 0.0392 0.0407 N/AFairview Fire District 0.0603 0.0613 0.0681 0.0744 0.0839 None None None None NoneVillage of Woodridge Library 0.2854 0.2939 0.3161 0.3391 0.3705 0.3962 0.3541 0.3449 0.3272 N/ANorth Westmont Fire Protection District 0.0940 0.0940 0.0997 0.1052 0.1127 0.1186 0.1358 0.1359 0.1275 N/A

Total Tax Rates 30.7548 31.3623 34.2093 36.8136 40.3470 43.7593 44.8448 43.9583 42.0063 -


Note: Rates are per $1,000 of Assessed Value

Data Source


(2) Effective June 1, 2014, the District's fiscal year changed to a year ending December 31. FY 2014 will be from June 1, 2014 through December 31, 2014 and, thereafter, the fiscal year will be January 1 throughDecember 31.


DIRECT AND OVERLAPPING PROPERTY TAX RATES (1) (Continued)


Jurisdiction


(1) Overlapping rates are those of local and county governments that apply to property owners within the District. Not all overlapping rates apply to all of the District property owners (e.g., the rates for special districtsapply only to the proportion of all the District's property owners whose property is located within the geographic boundaries of the special district).

- 76 -

Percentage of Percentage of

Total District Total District

Taxable Taxable Taxable Taxable

Assessed Assessed Assessed Assessed

Taxpayer Value Rank Value* Value Rank Value

LSREF4 Turtle LLC 21,042,370$ 1 0.94%BRE COH IL LLC 19,660,480 2 0.88%PTA-K 225 18,119,910 3 0.81% 22,066,430$ 3 0.91%Hamilton Partners 16,983,660 4 0.76% 47,374,567 1 1.96%Highland Owner LLC 12,676,700 5 0.57% 15,034,040 6 0.62%James Campbell Co. LLC 12,020,930 6 0.54%Adventus US Realty 9 LP 11,583,720 7 0.52%Accesso Partners LLC 11,060,140 8 0.49%MJH Downers Grove LLC 8,851,240 9 0.39% 15,511,140 4 0.64%Lillibridge Healthcare 5,563,120 10 0.25%Duke Realty Ltd. 29,940,060 2 1.24%CB Richards 15,470,810 5 0.64%Wells Reit II/Lincoln 14,316,670 7 0.59%Corridors I & II 13,428,670 8 0.56%Arun Enterprises 12,469,720 9 0.52%TA Associates Realty 12,392,990 10 0.51%

137,562,270$ 6.15% 198,005,097$ 8.19%

* Information for 2017 not available at the time the report was printed.

Data Source




Current Year and Ten Years Ago

PRINCIPAL PROPERTY TAX PAYERS

2016* 2007

- 77 -

Collections

Tax Taxes in

Fiscal Levy Extended Percentage Subsequent Percentage

Year Year Tax Levy (1) Amount of Levy Years Amount of Levy

2009 2007 6,923,771$ 6,912,376$ 99.84% 2,567$ 6,914,943$ 99.87%

2010 2008 6,932,112 6,909,123 99.67% 4,514 6,913,637 99.73%

2011 2009 6,728,519 6,719,359 99.86% 1,198 6,720,557 99.88%

2012 2010 6,809,655 6,778,523 99.54% 2,682 6,781,205 99.58%

2013 2011 6,800,317 6,783,202 99.75% 1,297 6,784,499 99.77%

2014 2012 7,125,812 7,106,427 99.73% 2 7,106,429 99.73%

2014* 2013 7,310,709 7,294,752 99.78% 85 7,294,837 99.78%

2015 2014 7,474,205 7,444,402 99.60% 5,333 7,449,735 99.67%

2016 2015 7,593,224 7,582,864 99.86% 807 7,583,671 99.87%

2017 2016 7,681,555 7,665,816 99.80% N/A 7,665,816 99.80%

(1) Does not include adjustments for errors and abatements of tax extensions.


N/A - not applicable

Data Source

Office of the County Clerk

Fiscal Year of the Levy Total Collections to Date




PROPERTY TAX LEVIES AND COLLECTIONS

Collected within the

- 78 -

2017 2016 2015 2014 2013 2012 2011 2010 2009 2008

ASSESSED VALUATION N/A 2,242,789,906$ 2,095,260,496$ 1,985,238,872$ 1,980,685,324$ 2,075,076,440$ 2,210,047,699$ 2,348,156,863$ 2,492,967,497$ 2,492,668,655$

TAX RATES

(Cents/$100 Assessed Valuation)

General N/A 0.1639 0.1778 0.1835 0.1880 0.1623 0.1422 0.1353 0.1311 0.1380Recreation N/A 0.0725 0.0719 0.0800 0.0750 0.0735 0.0676 0.0636 0.0663 0.0688Museum N/A 0.0157 0.0182 0.0167 0.0193 0.0280 0.0263 0.0248 0.0250 0.0269Special Recreation N/A 0.0198 0.0199 0.0205 0.0202 0.0183 0.0167 0.0160 0.0151 0.0154Liability Insurance N/A 0.0090 0.0085 0.0075 0.0091 0.0087 0.0080 0.0059 0.0067 0.0041Illinois Municipal Retirement N/A 0.0285 0.0316 0.0360 0.0221 0.0200 0.0173 0.0163 0.0134 0.0134Audit N/A 0.0009 0.0010 0.0011 0.0012 0.0010 0.0008 0.0007 0.0007 0.0005Debt Service N/A 0.0160 0.0170 0.0179 0.0175 0.0165 0.0153 0.0147 0.0000 0.0000FICA N/A 0.0162 0.0165 0.0133 0.0167 0.0151 0.0135 0.0127 0.0116 0.0110

0.0000 0.3425 0.3624 0.3765 0.3691 0.3434 0.3077 0.2900 0.2699 0.2781

TAX EXTENSIONS

General N/A 3,675,933$ 3,725,373$ 3,642,913$ 3,723,688$ 3,367,849$ 3,142,688$ 3,177,056$ 3,268,280$ 3,439,883$ Recreation N/A 1,626,023 1,506,492 1,588,191 1,485,514 1,525,181 1,493,992 1,493,428 1,652,837 1,714,956 Museum N/A 352,118 381,338 331,535 382,272 581,021 581,243 582,343 623,242 670,528 Special Recreation N/A 444,072 416,957 406,974 400,098 379,739 369,078 375,705 376,438 383,871 Liability Insurance N/A 201,851 178,097 148,693 180,242 180,532 176,804 138,541 167,029 102,199 Illinois Municipal Retirement N/A 639,195 662,102 714,666 437,732 415,015 382,338 382,750 334,058 334,018 Audit N/A 20,185 20,953 21,838 23,768 20,751 17,680 16,437 17,451 12,463 Debt Service N/A 358,846 356,194 355,358 346,620 342,388 338,137 345,179 - - FICA N/A 363,332 345,718 264,037 330,775 313,336 298,357 298,216 289,184 274,194

-$ 7,681,555$ 7,593,224$ 7,474,205$ 7,310,709$ 7,125,812$ 6,800,317$ 6,809,655$ 6,728,519$ 6,932,112$

COLLECTIONS 7,665,816$ 7,583,671$ 7,449,735$ 7,294,837$ 7,106,429$ 6,784,499$ 6,781,205$ 6,720,557$ 6,913,637$

PERCENTAGE OF EXTENSIONS COLLECTED 99.80% 99.87% 99.67% 99.78% 99.73% 99.77% 99.58% 99.88% 99.73%



STATISTICAL COMPARISON OF PROPERTY TAXES LEVIED AND COLLECTED



- 79 -

Percentage

Tax General of

Fiscal Levy Obligation Installment Personal Per

Year Year Bonds Contracts Total Income (1) Capita (1)

2009 2007 9,306,909$ -$ 9,306,909$ 0.60% 188.97$

2010 2008 8,969,856 - 8,969,856 0.43% 182.53

2011 2009 14,367,852 - 14,367,852 0.71% 300.38

2012 2010 13,639,116 - 13,639,116 0.67% 283.19

2013 2011 12,927,154 - 12,927,154 0.62% 261.69

2014 2012 12,125,787 - 12,125,787 0.58% 244.13

2014* 2013 11,304,420 161,050 11,465,470 0.55% 230.83

2015 2014 15,268,675 82,120 15,350,795 0.73% 308.78

2016 2015 14,348,355 - 14,348,355 0.69% 289.84

2017 2016 13,408,036 - 13,408,036 0.61% 270.57


Note: Details regarding the District's outstanding debt can be found in the notes to financial statements.


(1) See the Schedule of Demographic and Economic Statistics for personal income and population data.



RATIOS OF OUTSTANDING DEBT BY TYPE


- 80 -

Percentage of

Less: Amounts Total Taxable

Tax General Available in Assessed

Fiscal Levy Obligation Debt Service Value of Per

Year Year Bonds Fund Total Property (1) Capita (2)

2009 2007 9,306,909$ 828,243$ 8,478,666$ 0.12% 172.16$

2010 2008 8,969,856 833,789 8,136,067 0.11% 165.56

2011 2009 14,367,852 693,946 13,673,906 0.18% 285.87

2012 2010 13,639,116 669,500 12,969,616 0.18% 269.29

2013 2011 12,927,154 62,516 12,864,638 0.19% 260.42

2014 2012 12,125,787 34,630 12,091,157 0.19% 243.43

2014* 2013 11,304,420 274,647 11,029,773 0.19% 222.06

2015 2014 15,268,675 719,762 14,548,913 0.24% 292.65

2016 2015 14,348,355 1,166,291 13,182,064 0.21% 266.28

2017 2016 13,408,036 1,031,012 12,377,024 0.18% 249.76

(2) See the Schedule of Demographic and Economic Statistics for population data.


Note: Details regarding the District's outstanding debt can be found in the notes to the financial statements.

RATIOS OF GENERAL BONDED DEBT OUTSTANDING

(1) See the Schedule of Assessed Value and Estimated Actual Value of Taxable Property for property valuedata.




- 81 -

Percentage of

Debt District's

Applicable Share of

Governmental Unit Gross Debt to District (1) Debt

Direct Debt - Downers Grove Park District 14,348,355$ 100.00% 14,348,355$

Village of Downers GroveVillage of Downers Grove 54,375,000 96.54% 52,493,625Village of Downers Grove TIF 20,195,000 100.00% 20,195,000Village of Downers Grove Library 615,000 96.54% 593,721

CountyCounty of DuPage 221,573,337 6.19% 13,715,390Forest Preserve District of DuPage County 140,577,986 6.19% 8,701,777College of DuPage 502 257,390,000 6.41% 16,498,699

School DistrictsGrade School District 44 7,700,000 3.11% 239,470Grade School District 58 10,870,000 79.53% 8,644,911Grade School District 61 5,525,000 11.73% 648,083Grade School District 66 2,648,236 4.44% 117,582Grade School District 89 17,315,000 0.01% 1,732High School District 87 73,445,000 0.66% 484,737High School District 99 29,844,207 51.73% 15,438,408Unit School District 201 3,895,000 0.56% 21,812Unit School District 202 4,145,000 5.11% 211,810

OtherCity of Darien 3,633,969 0.71% 25,801Village of Woodridge 15,890,000 0.08% 12,712Darien-Woodridge Fire Protection District 5,515,000 1.93% 106,440

Total Overlapping Debt 875,152,735 138,151,708

TOTAL DIRECT AND OVERLAPPING DEBT 889,501,090$ 152,500,063$

*Information as of December 31, 2017 was not available at the time the report was printed.

Data Sources

DuPage County Clerk's Office and local taxing units

Note: Overlapping governments are those that coincide, at least in part with the geographic boundaries of the District. Thisschedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents andbusinesses of the District. This process recognizes that, when considering the District's ability to issue and repay long-termdebt, the entire debt burden borne by the residents and businesses should be taken into account. However, this does notimply that every taxpayer is a resident and, therefore, responsible for repaying the debt of each overlapping government.

(1) The percentage of overlapping debt applicable is estimated using taxable assessed property values. Applicablepercentages are estimated by determining the portion of the District's taxable assessed value that is within the government'sboundaries and dividing it by the District's total taxable assessed value.


SCHEDULE OF DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT

December 31, 2016 (Unaudited)*


- 82 -

Beginning Ending

Fiscal Fund Total Total Fund

Year Balance Revenues Expenditures Balance Principal Interest Coverage

2011 651,309$ 1,276$ (1,000)$ 651,585$ 370,000$ 147,860$ 1.25 2012 651,586 1,497 - 653,083 385,000 136,205 1.25 2013 653,083 613 (653,696) - * * - 2014 - - - - * * -

2014** - - - - * * - 2015 - - - - * * - 2016 - - - - * * - 2017 - - - - * * -

Beginning Ending



2011 263,872$ 1,715$ -$ 265,587$ 115,000$ 97,003$ 1.25 2012 265,587 688 - 266,275 120,000 92,862 1.25 2013 266,275 791 - 267,066 125,000 88,483 1.25 2014 267,066 591 - 267,657 130,000 83,918 1.25

2014** 267,657 443 - 268,100 135,000 79,174 1.25 2015*** 268,100 484 (268,584) - 1,955,000 34,030 1.25

2016 - - - - *** *** - 2017 - - - - *** *** -

Beginning Ending



2015 -$ 292,710$ -$ 292,710$ 25,000$ 45,329$ 1.25 2016 292,710 1,739 - 294,449 180,000 103,488 1.25 2017 294,449 2,479 - 296,928 275,000 99,888 1.25

* The 2013A bonds were issued in 2013 to refinance the 2004B bonds.

** For the seven months ended December 31, 2014.

*** The 2015A bonds were issued in 2015 to refinance the 2006 bonds.


PLEDGED-REVENUE COVERAGE

Last Eight Fiscal Years

Restricted Bond and Interest Fund

Restricted Bond & Interest Fund

Series 2004B

Debt Service

Series 2004B


Series 2006

Note: Details regarding the District's outstanding debt can be found in the notes to financial statements. Revenues includeinvestment earnings and transfers from other funds. Expenditures include transfers to other funds. No outstanding debt prior tothe fiscal year ended May 31, 2004 required a restricted bond and interest fund and the bonds issued in 2008, 2010 and 2013 donot require a restricted bond and interest fund.

Series 2015A

Debt Service

Series 2006

Restricted Bond and Interest Fund

Series 2015A

Debt Service

- 83 -

2009 2010 2011 2012 2013 2014 2014* 2015 2016 2017

Debt limit with referendum debt 71,664,224$ 71,672,816$ 67,509,510$ 63,538,871$ 59,658,448$ 56,944,703$ 57,075,618$ 60,238,739$ 64,480,204$ 64,480,210$

Total debt applicable to limit - - 6,000,000 5,855,000 5,705,000 5,550,000 5,395,000 9,620,000 9,015,000 -

Legal debt margin 71,664,224$ 71,672,816$ 61,509,510$ 57,683,871$ 53,953,448$ 51,394,703$ 51,680,618$ 50,618,739$ 55,465,204$ N/A

Total Net Debt Applicable to the Limit as a Percentage of Debt Limit 0.00% 0.00% 8.89% 9.21% 9.56% 9.75% 9.45% 15.97% 13.98% N/A

Debt limit with nonreferendum debt 14,332,845$ 14,334,563$ 13,501,902$ 12,707,774$ 11,931,690$ 11,388,941$ 11,415,124$ 12,047,748$ 12,896,041$ 12,896,042$

Total debt applicable to limit - - 6,000,000 5,855,000 5,705,000 5,550,000 5,395,000 9,620,000 9,015,000 -

LEGAL DEBT MARGIN 14,332,845$ 14,334,563$ 7,501,902$ 6,852,774$ 6,226,690$ 5,838,941$ 6,020,124$ 2,427,748$ 3,881,041$ N/A

Total Net Debt Applicable to the Limit as a Percentage of Debt Limit 0.00% 0.00% 44.44% 46.07% 47.81% 48.73% 47.26% 79.85% 69.91% N/A

N/A - not available

*For the seven months ended December 31, 2014. Legal Debt

Margin for

Data Source Nonreferendum Legal Debt

Debt Margin

Audited Financial StatementsEqualized assessed valuation 2016 tax year 2,242,789,906$ 2,242,789,906$

Statutory debt percentage of assessed value 0.575% 2.875%

Statutory debt limitation 12,896,042 64,480,210

Total debt applicable to limitation General Obligation Bonds 9,275,000 9,275,000

LEGAL DEBT MARGIN 3,621,042$ 55,205,210$

Legal Debt Margin Calculation for Fiscal Year 2017


SCHEDULE OF LEGAL DEBT MARGIN



- 84 -

Estimated

Personal (1)

Income Per

(Amounts Capita (1) (2) (3) (3)

Fiscal (1) Expressed Personal Median School Labor Unemployment

Year Population in Thousands) Income Age Enrollment Force Rate

2009 49,250 1,555,315$ 31,580$ 39.1 13,342 27,285 8.0%

2010 49,143 2,065,087 42,022 42.6 13,051 27,242 8.0%

2011 47,833 2,010,038 42,022 42.6 13,250 26,833 7.4%

2012 48,163 2,023,906 42,022 42.6 13,250 26,789 6.8%

2013 49,399 2,075,845 42,022 42.6 12,610 27,165 7.0%

2014 49,670 2,087,233 42,022 42.6 12,377 27,425 5.5%

2014* 49,670 2,087,233 42,022 42.6 12,377 27,250 3.7%

2015 49,715 2,089,124 42,022 42.6 12,670 27,287 4.0%

2016 49,504 2,080,257 42,022 42.6 12,187 27,221 3.9%

2017 49,555 2,195,386 44,302 42.6 12,799 27,363 3.6%

*For the seven months ended December 31, 2014.

Data Sources

(1) The U.S. Census Bureau

(3) Illinois Department of Employment Security

(2) Annual school census by the Illinois Board of Education or the National Center for Education Statistics for public and nonpublicschools prior to Fiscal Year 2011. Using 2010 census data in FY 2011.



DEMOGRAPHIC AND ECONOMIC STATISTICS


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Percentage Percentage

of Total of Total

Village Village

Employer Employees Rank Employment Employees Rank Employment

Advocate Good Sam Hospital 2,700 1 5.45% 2,700 1 5.55%GCA Services 1,500 2 3.03% 1,500 2 3.08%University Subscription Services 1,050 3 2.12% 1,050 3 2.16%Midwestern University 1,000 4 2.02% 1,000 4 2.05%DeVry Inc. 850 5 1.72% 700 5 1.44%First Health Group Corp. 800 6 1.61%Acxiom/May & Speh Inc. 700 7 1.41% 700 5 1.44%Ambitech Engineering Group 700 7 1.41%State Farm 600 8 1.21%FTD Inc. 500 9 1.01% 500 7 1.03%Advocate Healthcare 450 10 0.91%Dover Corporation 400 8 0.82%Sara Lee Food & Beverage 1,000 4 2.05%RR Donnelley & Sons 600 6 1.23%Magnetrol 400 8 0.82%Havi Global Solutions, LLC 350 9 0.72%Hub Group, Inc. 300 10 0.62%

10,850 21.89% 11,200 23.01%

Data Sources

Village Community Development Department Records and U.S. Census Bureau.


2017 2012

PRINCIPAL EMPLOYERS

Current Year and Five Years Ago


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2009 2010 2011 2012 2013 2014 2014* 2015 2016 2017

GENERAL GOVERNMENT

Administration 12.5 12.3 11.6 11.4 11.2 11.0 13.5 11.5 10.0 10.0 Parks 26.3 24.5 24.6 26.8 22.6 22.9 25.6 24.5 23.8 24.4

CULTURE AND RECREATION

Recreation 53.2 52.6 50.6 53.3 55.1 54.0 55.1 57.6 58.5 62.0 Museum operations 5.6 6.1 6.0 6.0 6.0 6.1 6.0 6.0 6.1 6.0 Golf course 11.0 11.1 10.9 10.9 10.6 10.0 14.0 10.9 11.0 10.6 Swimming pool 4.3 4.3 - - - - - - - -

TOTAL 112.9 110.9 103.7 108.4 105.5 104.0 114.2 110.5 109.4 113.0


Data Source

District records


FULL-TIME EQUIVALENT GOVERNMENT EMPLOYEES BY FUNCTION



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2009 2010 2011 2012 2013 2014 2014* 2015 2016 2017

ADMINISTRATION

Online registration 3,727 4,522 5,587 5,750 6,316 6,385 3,946 6,955 7,736 7,623 Criminal background checks 354 233 227 270 277 270 187 377 199 224 Office volunteer hours 183 90 49 151 25 - - - - - Adopt-A-Park volunteer hours 61 479 411 54 - - - - - - Park volunteer hours 106 25 103 440 52 361 240 480 375 350

RECREATION

Recreation participants 59,259 50,488 47,902 47,200 49,635 55,685 30,784 54,079 56,318 56,608 Fitness and exercise participants 169,468 172,813 182,873 177,544 175,926 177,500 95,184 191,702 166,256 160,272 Miniature golf rounds 10,565 10,192 8,500 8,731 6,688 9,170 9,439 9,186 8,422 9,248 Recreation volunteer hours 5,441 9,964 5,752 8,130 7,277 5,598 1,168 1,161 1,100 1,419

MUSEUM OPERATION

MuseumMuseum visitors 1,651 1,779 2,005 2,778 1,071 394 1,243 1,372 1,453 1,649 Participants in special programs 1,606 1,439 2,385 1,445 1,055 742 866 1,457 1,086 583 Volunteer hours at the museum 1,948 1,897 2,570 2,230 1,956 1,686 1,483 1,884 1,889 1,783

Natural areasTotal program attendance 3,801 4,193 3,570 3,890 3,950 4,618 3,760 3,360 6,729 7,348 Total volunteer hours 1,088 1,200 1,377 1,270 1,276 1,696 734 1,746 2,320 2,458

GOLF COURSE

Golf rounds 42,509 44,276 44,274 37,781 38,521 35,898 27,605 36,541 35,206 34,705 Driving range (buckets) 15,017 16,377 17,586 15,328 15,092 15,713 15,602 21,667 18,194 18,262 Golf course volunteer hours 128 269 308 140 275 314 256 203 236 230

SWIMMING POOL

Swimming lessons 1,235 1,303 372 324 315 244 235 238 268 201 Swimming - public swims 5,080 5,168 - - - - - - - -


Note: A complete monitoring of all volunteer activities was begun in FY2008-09. Volunteer data for the Active Adult Center, Coaching Events and KidZone Babysitting is collected.

Data Source

District departments


OPERATING INDICATORS BY FUNCTION



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2009 2010 2011 2012 2013 2014 2014* 2015 2016 2017

GENERAL GOVERNMENT

Administration/maintenance building 1 1 1 1 1 1 1 1 1 1 Maintenance buildings 2 2 2 2 2 2 2 2 2 2

RECREATION

Parks acreage 510.31 511.86 511.86 511.86 511.86 512.86 512.91 527.71 525.20 525.70 Parks 49 49 49 49 49 49 49 49 48 48 Park shelters 8 8 8 8 8 8 8 8 9 9 Play equipment 24 24 24 24 24 24 24 24 24 24 Outdoor fitness equipment - - - 1.00 1 1 1 1 1 1 Tennis courts 17 17 17 17 17 17 17 16 16 16 Pickleball courts - - - - - - - 2.00 2 2 Community centers 2 2 2 2 2 2 2 2 2 2 Miniature golf course 1 1 1 1 1 1 1 1 1 1 Concession facilities 2 2 2 2 2 2 2 3 3 3 Restroom facilities 7 7 7 8 8 8 8 8 8 8

MUSEUM OPERATIONS

MuseumMuseums 1 1 1 1 1 1 1 1 1 1 Museum buildings 2 2 2 3 3 3 3 3 3 3

Natural areasInterpretive center 1 1 1 1 1 1 1 1 1 1 Nature trails 2 2 2 2 2 2 2 2 2 2

GOLF COURSE

Golf course holes 9 9 9 9 9 9 9 9 9 9 Golf course acreage 90 90 90 90 90 90 90 90 90 90 Clubhouse 1 1 1 1 1 1 1 1 1 1 Maintenance building 1 1 1 1 1 1 1 1 1 1

SWIMMING POOL

Indoor swimming facilities 2 2 - - - - - - - -


Data Source

Various district departments


CAPITAL ASSET STATISTICS BY FUNCTION



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Downers Grove Park Dist - COMPREHENSIVE …...Downers Grove Park District (the District) as of and for the year ended December 31, 2017 and the related notes to financial statements,

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