23-8100 Final Audit - Wheeling PD

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FOR THE FISCAL YEAR ENDED DECEMBER 31, 2023

WHEELING PARK DISTRICT, IL

WHEELING PARK DISTRICT WHEELING, ILLINOIS

ANNUAL COMPREHENSIVE FINANCIAL REPORT

For the Year Ended December 31, 2023

FINANCIAL SECTION (Continued)

(Continued)

WHEELING PARK DISTRICT

(Continued)

FINANCIAL SECTION (Continued)

STATEMENTS AND SCHEDULES (Continued)

(Continued)

FINANCIAL SECTION (Continued) SUPPLEMENTAL DATA

STATISTICAL SECTION

2023

INTRODUCTORY SECTION

WHEELING PARK DISTRICT

WHEELING, ILLINOIS

PRINCIPAL OFFICIALS

December 31, 2023

LEGISLATIVE

BOARD OF PARK COMMISSIONERS

Sue Stein, President

Cheri Klumpp Mike Burns, Vice President

Brian Lichtenberger Isaac Brubaker

Paul Zangara Claudia Fonseca

ADMINISTRATIVE

Jan Buchs, Executive Director

Matt Wehby, Deputy Director

FINANCE DIVISION

Ismael Jimenez Superintendent of Finance

Wheeling Park District 2023 Full-Time Organizational Structure

June 11, 2024

Board of Park Commissioners

And Citizens of the Wheeling Park District

100 Community Boulevard

Wheeling, Illinois 60090

State law requires that every general-purpose local government publish within six months of the close of each fiscal year a complete set of audited financial statements. This report is published to fulfill that requirement for the fiscal year ended December 31, 2023

Management assumes full responsibility for the completeness and reliability of the information contained in this report, based upon a comprehensive framework of internal controls that are established for this purpose. Because the cost of internal controls should not exceed anticipated benefits, the objective is to provide reasonable, rather than absolute, assurance that the financial statements are free of any material misstatements.

Sikich CPA LLC, Certified Public Accountants, has issued an unmodified (“clean”) opinion on the Wheeling Park District’s financial statements for the year ended December 31, 2023 The independent auditor’s report is located at the front of the financial section of this report.

Management’s discussion and analysis (MD&A) immediately follows the independent auditor’s report and provides a narrative introduction, overview, and analysis of the basic financial statements. The MD&A complements this letter of transmittal and should be read in conjunction with it.

Profile of the Wheeling Park District

The Wheeling Park District, incorporated in 1961, is located in northern Cook and southern Lake Counties and is 27 miles northwest of downtown Chicago. The Park District serves a population of approximately 45,000 residents living within the Village of Wheeling and small portions of Prospect Heights, Buffalo Grove, and Arlington Heights. It encompasses an area of just over 8.5 square miles. The Park District is considered to be a primary government - providing a full range of recreation activities, public open space, recreational facilities, a full-service country club, and districtwide events for its communities

The Park District is governed by an elected, seven-member board, and operates under a BoardManager form of government, with its Mission being to provide memorable experiences in parks and recreational opportunities to its residents. Services provided include recreation programs, park management, capital development, and general administration. The Park District manages and operates 24 sites on approximately 350 acres. These sites include neighborhood parks, regional parks, special-use areas, and conservation/preservation/natural areas. Recreational facilities operated by the Park District include one outdoor aquatic center, one community recreation center, one indoor aquatic center, a fitness center, an historical museum, a synthetic turf outdoor sports

complex, an outdoor performance pavilion, two community gymnasiums (shared with Community Consolidated School District 21), one turf football/soccer field (shared with Township High School District 214), and an 18-hole championship-quality golf course and banquet facility, as well as a number of natural turf softball/baseball diamonds, natural turf soccer fields, playgrounds, pickle ball courts, and picnic shelters.

The Annual Comprehensive Financial Report includes all funds of governmental operations and component units based on financial accountability. The accompanying financial statements include only those funds of the Park District, as there are no other organizations for which it has financial accountability. The Park District participates in the Illinois Municipal Retirement Fund (IMRF), the Northwest Special Recreation Association (NWSRA), and the Park District Risk Management Agency (PDRMA). These organizations are separate governmental units because they are legally separate and the Park District is not financially accountable for them. Audited financial statements for these organizations are not included in this report. However, such statements are available upon request from their respective business offices.

The Board of Commissioners is required to adopt a final budget no later than three months after the close of the fiscal year. This annual budget serves as the foundation for the Wheeling Park District’s financial planning and control The budget is prepared by fund and state law prohibits further appropriation at any time within the same fiscal year. The Board of Commissioners has the authority, after the first six months of the fiscal year, to make transfers between various items in any fund in the appropriation ordinance with a two-thirds vote. Additionally, if circumstances warrant it, a supplemental budget and appropriation ordinance can be prepared. Transfers cannot exceed 10%, in the aggregate, of the total amount appropriated for the fund or item that is having funds reallocated.

Local Economy

The Wheeling Park District community has a well-established reputation as an exceptional community located in the northwestern corridor of the Chicago metropolitan area. The area encompassing the Wheeling Park District is a great place to live and work. The area has an ideal mix of residential and multi-family housing, good schools and municipal services, as well as some of the Chicago area’s best-known restaurants. Several hospitals are nearby, giving residents several options to meet their medical needs. Wheeling schools’ students have consistently exceeded the state average for reading and math skills. In addition to primary and secondary schools, District residents can take advantage of higher-level courses in business and education taught at National Louis University’s campus in Wheeling. William Rainey Harper College – a leading community college – also serves Wheeling residents by offering certificate and associate degree programs, as well as college transfer programs.

Long-term Financial Planning

The economic rebound from COVID-19 that started in FY2022 persisted into FY2023, demonstrating resilience despite challenges like record high interest rates and inflation. The District’s revenue exceeded budgeted amounts, driven by several factors. Real estate taxes outperformed expectations and guest spending for parks and recreation services exceeded budget. Furthermore, the Park District’s interest income significantly surpassed budget projections, benefiting from the higher interest rates. This robust performance highlights the District’s ability to thrive in a recovery economic landscape, even amidst financial pressures.

In 2023, the District strengthened its financial stability by ensuring that all governmental funds reached their target balances. This prudent financial management allowed the District to sustain its operations effectively while pursuing cost efficiencies. These efforts wereaimed at fulfilling its Vision to uphold our tradition as the provider of choice for parks and recreation in our community. By achieving these financial goals, the District demonstrated its commitment to fiscal responsibility and operational excellence, reinforcing its role as a vital community resource.

Factors Affecting Financial Condition

2022 was the year the worldwide COVID-19 pandemic subsided and went into an endemic phase With this transition, the Wheeling Park District moved forward providing a full complement of parks and recreation services.

The pandemic and ever-changing restrictions could have paralyzed the Park District for several years, but it did not. With the pandemic in the rearview mirror, the District, staff and Board, rose up to the occasion to provide a diverse array of programs, services, events, and experiences for our community and guests. The challenges were met with determination and the District focused on getting back to providing for the needs and wants of the community. The response from guests and residents was overwhelmingly positive. They felt safe, supported and once again engaged in the community.

The biggest factor affecting the financial condition of the Wheeling Park District was the economic environment. 2023 was a year consumed by the lingering supply chain problems; increased cost for goods; and the elevated interest rates. These events required the District to be prudent with the pricing of its services and the spending of District resources.

To protect the financial health of the District, staff monitors economic trends and the leading economic indicators to understand their impact on long-term financial strategies. Unemployment in Illinois ended 2023 at 4.7%, and costs of consumable goods have impacted residents that live in the District as well as the business community. However, even with the current economic factors being what they are, the District remains well-positioned to continue to meet growing demands and remain fiscally responsible to its constituents through innovative, effective, and efficient practices.

The District continues to experience increased competition from both the private and public sectors in areas such as recreational programming, fitness and wellness, preschool, food and beverage events, and aquatics.

Parks and Recreation Comprehensive Plan (PRCP)

Consistent with the Park District’s long-range planning process, the District finalized its Parks and Recreation Comprehensive Plan. Berry Dunn completed this report and presented it to the Board on September 19, and then unanimously approved, on October 3.

The PRCP will drive District long-range planning and direct decision-making and resources toward a clearly defined vision for its future, including development and redevelopment of the parks, facilities, open space, and recreation system over the next five years. The planning process consisted of the following components: needs assessment, visioning, identifying and evaluating community needs, priorities, and opportunities, and creating a phased implementation.

The PRCP contains five (5) recommendations for the District to address in the coming years.

• Respond to Changing Demographics and Trends

• Ensure Social Responsibility

• Continue Innovative Leadership

• Leverage Partnerships

• Create a Plan for the Community Recreation Center and Family Aquatic Center Campus

Chevy Chase Country Club Exterior Project

Started in 2023 and scheduled for completion in 2024, the Chevy Chase Country Club Exterior Renovation Project is a significant project that upgrades and improves the exterior of the clubhouse building.

The renovation maintains the historical and architectural significance of this cherished community asset. The scope of the project includes the removal of deteriorated caddy shack; replacing the deteriorated exterior cladding and roofing to address water infiltration and improve thermal performance, and to utilize modern building materials for a uniform appearance that maintains the original Tudor-style character of the building

This entire renovation project is scheduled to be complete with no significant adverse impact on day-to-day operations, nor the need to cancel any events or rounds of golf.

Childerley Park Renovation

In accordance with the Park District’s Neighborhood Park Improvement Plan, the District renovated Childerley Park; located at 506 McHenry Road in Wheeling. The primary objectives of this project was to upgrade this large neighborhood park to meet the needs of the neighborhood

The Childerley Park renovation project consisted of replacing existing playground equipment, installing new synthetic playground safety surfacing, benches, trash/recycling receptacles, seatwalls, and constructing a new plaza space to accommodate the playground users and care givers. Additional improvements to this heavily used park included the construction of a pathway to loop the perimeter of the park along with new benches at appropriate intervals along the pathway. Since the open lawn area south of the playground is informally used for soccer, enough space for a small-scale soccer field was included. While the sand volleyball courts were used infrequently, they provided another outdoor activity for families picnicking at the shelter structure. To enhance that activity, the plan included one remaining volleyball court and the addition of a bocce court.

The District was awarded an Open Space Lands Acquisition and Development (OSLAD) grant for this project which provided 50% ($400,000) of the funding.

Awards and Acknowledgements

In 2023, the Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the Wheeling Park District for its annual comprehensive financial report for the fiscal year ended December 31, 2022 This was the nineteenth consecutive year that the District has achieved this prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized annual comprehensive financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements.

A Certificate of Achievement is valid for a period of only one year We believe that our current annual comprehensive financial report continues to meet the Certificate of Achievement Program’s requirements and we are submitting it to the GFOA to determine its eligibility for another certificate.

The preparation of this report on a timely basis could not be accomplished without the efficient and dedicated services of the entire staff of the Administration Department and assistance rendered by staff throughout the Park District. We would like to express our appreciation to all of those employees who assisted and contributed towards its preparation. A special thanks to the Board of Commissioners for their leadership and support in setting policy that directs the financial operations of the District in a responsible and prudent manner.

Respectfully Submitted,

Ismael Jimenez

Ismael Jimenez

2023 financial section

1415 West Diehl Road, Suite 400

Naperville, IL 60563

630.566.8400

INDEPENDENT AUDITOR’S REPORT

Members of the Board of Commissioners

Wheeling Park District

Wheeling, Illinois

Report on the Audit of the Financial Statements

Opinions

We have audited the accompanying financial statements of the governmental activities, the businesstype activities, each major fund and the aggregate remaining fund information of Wheeling Park District, Wheeling, Illinois (the District), as of and for the year ended December 31, 2023 and the related notes to financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.

In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund and the aggregate remaining fund information of Wheeling Park District, Wheeling, Illinois as of December 31, 2023 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.

Basis for Opinions

We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under these standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the District and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Responsibilities of Management 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 and for 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. In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for 12 months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions.

Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS, we

• Exercise professional judgment and maintain professional skepticism throughout the audit.

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

• Obtain an understanding of internal control relevant to the audit 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, no such opinion is expressed.

• Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings and certain internal control-related matters that we identified during the audit.

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 is the responsibility of management and, 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.

Supplementary 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 combining and individual fund financial statements and schedules and supplemental data 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 and supplemental data 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 combining and individual fund financial statements and schedules and supplemental data are fairly stated, in all material respects, in relation to the basic financial statements as a whole.

Other Information

Management is responsible for the other information included in the annual report. The other information comprises the introductory section, and statistical section but does not include the basic financial statements and our auditor’s report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon.

In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.

Naperville, Illinois June 11, 2024

GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS

MANAGEMENT’S DISCUSSION AND ANALYSIS

(Required

Supplementary Information)

As management of the Wheeling Park District, we offer readers of the Park District’s financial statements this narrative overview and analysis of the financial activities of the Wheeling Park District for the fiscal year ended December 31, 2023. We encourage readers to consider the information presented here in conjunction with additional information that we have furnished in our letter of transmittal section of this report.

FINANCIAL HIGHLIGHTS

• On a government-wide basis, the District’s net position increased by $3,639,242, or 5.6% for the fiscal year, the governmental activities increased by $2,818,325 or 5.0% while the business-type activities increased $820,917 or 8.7%

• The District’s combined net position totaled $69,186,896 at December 31, 2023 Unrestricted net position increased $4,221,794 to $21,804,293 Business activities account for $2,463,378 of the unrestricted net position and governmental activities account for the remaining $19,340,915.

OVERVIEW OF THE FINANCIAL STATEMENTS

This discussion and analysis is intended to serve as an introduction to the Wheeling Park District’s basic financial statements. The Wheeling Park District’s basic financial statements comprise three components: 1) government-wide financial statements; 2) fund financial statements; and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements.

Government-wide financial statements- The government-wide financial statements, found on pages 4-9 of this report, are designed to provide readers with a broad overview of the Wheeling Park District’s finances, in a manner similar to a private-sector business.

The statement of net position presents information on all of the District’s assets and deferred outflows, and liabilities and deferred inflows with the difference between the two reported as net position Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating.

The statement of activities presents information showing how the government’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (uncollected taxes and earned but unused vacation leave are two examples).

Both of the government-wide financial statements distinguish functions of the Wheeling Park District that are principally supported by taxes and intergovernmental revenues (government activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The governmental activities of the District include general government and culture and recreation. The business-type activities of the District are clubhouse and golf course operations.

Fund financial statements- A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The Wheeling Park District, like other local governments use fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the District can be divided into two categories: governmental funds and proprietary funds.

Governmental funds- Governmental funds are used to account for essentially the same functions reported as government activities in the government-wide financial statements. However, unlike thegovernment-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources (current financial resources versus economic resources), as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government’s near-term financing requirements.

Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the government’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statements of revenues, expenditures, and changes in fund balance provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. Moreover, these latter statements provide a ready comparison to similar financial statements produced prior to the District’s implementation of GASB Statement No. 34.

The District maintains fourteen individual government funds. Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balances for the five funds considered major funds. Data from the other eight governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these non-major governmental funds is provided in the form of combining statements beginning on page 67.

Major Governmental Funds: Non-major Governmental Funds:

General Tort Immunity Recreation Audit

Bond and Interest

Capital Project

Bond Project

Museum

IMRF

FICA

Special Populations

Police

Paving and Lighting

The District adopts annual appropriated budgets for all of its governmental funds. Budgetary comparison statements have been provided to demonstrate compliance with these budgets. The detailed governmental fund financial statements can be found starting on page 54 of this report.

Proprietary funds- The Wheeling Park District maintains only one type of proprietary fund. That fund type is an enterprise fund and is used to report the same functions presented in the business-type activities in the government-wide financial statements. The Wheeling Park District uses the enterprise fund to account for its Chevy Chase Country Club operations which includes an 18 hole golf course, bar and grill, and banquet facilities.

Proprietary funds provide the same type of information as the government-wide financial statements, only in more detail. The detailed proprietary fund financial statements are grouped in a manner similar to governmental fund statements. Fund data for the enterprise fund is provided beginning on page 80.

TheDistrictadoptsan annualappropriationsbudgetfortheenterprisefund.Budgetarycomparisonstatements for the fund are included within the report to demonstrate compliance with the budget.

The basic enterprise fund financial statements can be found on pages 13-17 of this report.

Notes to the financial statements- The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found beginning on page 18 of this report

Other information- In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information including Budget and Actual Comparison Schedules for the General Fund and major special revenue funds, as well as information concerning the Wheeling Park District’s progress in funding its obligations to provide pension benefits to its employees. Required supplementary information can be found starting on page 47 of this report.

The combining statements referred to earlier in connection with non-major governmental and proprietary funds are presented immediately following the required supplementary information on pensions and budgets. Combining and individual fund statements and schedules can be found starting on page 54

GOVERNMENT-WIDE FINANCIAL ANALYSIS

Statement of Net Position- As noted earlier, net position may serve over time as a useful indicator of a government’s financial position. In the case of the Wheeling Park District, assets and deferred outflows of resources exceed liabilities and deferred inflows of resources by $69,186,896 at the close of the fiscal year, which is an increase from the prior year of $3,639,242

WheelingPark DistrictNetPosition

The largest portion of the Wheeling Park District’s net position reflects its net investment in capital assets (e.g., land, building, machinery). The District uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Although the District’s investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets cannot be used to pay these liabilities. The remaining balance of unrestricted net position may be used to meet the government’s ongoing obligations to the citizens and creditors.

At the end of the current fiscal year, the District is able to report positive balances in all three categories of net position, including the District as a whole, as well as for its separate governmental and business-type activities.

Statement of Activities- Already noted was the statement of activities’ purpose in presenting information of how the government’s net position changed during the most recent fiscal year Following is a chart of changes in net position.

For the fiscal year, total net position increased $3,639,242, with an increase in the governmental activities of $2,818,325 and an increase in the business-type activities of $820,917 The increase in net position in governmental activities is due to revenues exceeding expenses With respect to business-type activity, Chevy Chase net position increased as revenues exceeded expenses The reader should remember that the basis of accounting used in the government-wide statement of activities excludes capital expenses while its revenues include general taxes whose primary purpose is for the construction of these very assets or their related debt service.

Governmental Activities Revenues

Governmental activities revenues totaled $16,800,853 for fiscal year 2023. Property tax is the largest component at $10,203,827 which represents 60.73% of the total revenues generated for governmental activities. Charges for Services accounted for $4,454,895 or 26.52% of the revenues generated, Grants and Donations accounted for $19,356 or 0.12%, and all other sources of revenue – Investment Earnings, Replacement Taxes, and TIF surplus distributions - totaled $2,122,775 or 12.63%

In 2023 revenues increased in the governmental funds primarily due to increased Sales & Rentals and Charges for Services as well as an increase of Investment and Miscellaneous revenues.

Governmental Activities Revenues

Expenses

Governmental expenses totaled $13,311,545 for the fiscal year. Of the expenses, 43.75% or $5,823,973 is related to general government, $7,289,182 or 54.76% relate toculture and recreation, theremaining $198,390 or 1.49% is related to interest and fiscal charges

Governmental Activities Expenses

Business-type activities

Revenues

General revenues do not support the District’s business-type activities; as 100.00% ($7,036,939) of the funds revenues comes from Sales and Rentals.

Expenses

The entire $6,887,005 business-type expenses are the result of operations at Chevy Chase Country Club

FINANCIAL ANALYSIS OF THE DISTRICT

Significant changes in equity

In 2023 the funds listed below had significant changes in equity or changes in reporting that should be explained to the reader.

Capital Project Fund- There was significant activity in the Capital Projects Fund. The District continued work on the Childerley Park renovation project, which was completed in 2023. Offsetting the capital spending, in a continuing effort to fund future capital outlays, the District transferred $3,389,527 to the Capital Projects Fund from identified surpluses in the Corporate and Recreation Funds

Bond Project Fund- There was significant activity in the Bond Projects Fund. The District issued General Obligation (GO) Limited Tax Park Bonds in the amount of $1,509,100 in a continuing effort to fund future capital outlays This fund also paid for the purchase of vehicles, equipment, and a BDA system.

Governmental funds- The combined fund balance of governmental funds for the fiscal year ended December 31, 2023 are $25,147,126 This represents an increase of 19.30% or $4,069,056 in fund balance This is principally a result of an increase in the Bond Project Fund of $509,021 and an increase in the Capital Projects Fund of $2,609,786 Both the Corporate and Recreation fund balances remained relatively flat in 2023 due to excess revenues over expenditures being transferred to the Capital Projects Fund. Additionally, the Corporate and Recreation funds each transferred out $332,563 to the Bond and Interest Fund representative of their commitment toward the 2020 Refunding Bonds issue. None of the restricted net position or restricted fund balance results from enabling legislation adopted by the District.

Proprietary Funds- At December 31, 2023 the proprietary fund, Chevy Chase Country Club, reported net position of $10,305,700 which represents an increase of $820,917 from the balance at the start of the fiscal year. Revenues increased $676,568 from 2022, fueled by increased Food & Beverage events, partially offset by lower golf revenues. Operating expenses increased $904,742 and depreciation expense decreased $41,680 compared to 2022 It is management’s intention to reserve for capital projects $612,000 of total unrestricted net position of $2,463,378 in the Chevy Chase Fund at December 31, 2023.

CORPORATE FUND BUDGETARY HIGHLIGHTS

A detailed budgetary schedule for the fiscal year ended December 31, 2023 can be found starting on page 54. A summary of that schedule follows:

& Final Actual to Final Revenues andTransfers In

The budget plan for the year reflected an increase to the Fund Balance of $63,240, while actual operations resulted in an increase of $646,076. With revenues exceeding budget and expenses being under budget the Corporate Fund was able to transfer $2,002,561 to the Capital Projects Fund, $1,052,561 greater than what was budgeted The increase in Corporate Fund revenues is primarily due to increased Investment Income and the TIF surplus distributions. The variance in Corporate Fund expenditures is primarily due to efficient and effectivemanagementpractices,streamliningoperationsinamannerconsistentwithbusinessneedandsound financial decisions

CAPITAL ASSETS

Capital Assets, net of depreciation, at December 31, 2023 stood at $50.1 million. This is a net decrease of $2.3 million for the year. This net decrease is due primarily to current year depreciation

Additional information on capital assets can be found in Note 5, starting on page 27.

DEBT ADMINISTRATION

For the fiscal year ended December 31, 2023, the District’s long-term debt decreased $100,000. The District issued General Obligation (GO) Limited Tax Park Bonds in the amount of $1,509,100, compared to $1,460,000 in2022. Additionally, the District continued to make debtpayments on existingdebt. TheDistrict annually issues general obligation bonds to fund its capital projects. In 2023, the District borrowed the full amount available in its DSEB with a one-year maturity. A one-year maturity schedule allows the District to pay less interest expense, which increases the amount available for future projects.

Long-TermDebt

(In

Additional information on long-term debt can be found in Note 7, starting on page 31

ECONOMIC FACTORS

Wheeling has the reputation as a dynamic business and industrial center, and is home to hundreds of businesses, commercial, and retail establishments. However, changes in the economy, both positive and negative, has had a significant impact on business and residents alike. To protect the financial health of the District, staff monitors economic trends and economic indicators to understand their impact on long-term financial strategies. Wheeling’s unemployment rate ranged between 3.3% and 4.7% in 2023, and increased costs of consumable goods have put a strain on the residents that live in the District as well as the business community. However, with the current economic factors being what they are, the District is well-positioned to continue to meet growing demands and remain fiscally responsible to its constituents through innovative, effective, and efficient practices.

The District’s principal taxpayers are retail stores, well-known restaurants, single- and multi-family housing, and industrial businesses Wheeling is a growing and prosperous community with nearly 40,000 residents, distinguished by its balance of industrial, commercial, and residential developments. Encompassing a blend of national retailers, restaurants, corporations, and independent family-run businesses, Wheeling is known for its strategic location and access to a highly skilled workforce. Transportation and accessibility also play a big role as they are among Wheeling’s strongest assets. Nearby Interstates 94, 90, and 294 enable the convenient delivery of products, goods, and services from Wheeling to the rest of the country. Property tax revenue continues to be limited by the tax caps Since the District relies on property tax for much of its revenues, and given that Cook County, the county for which it receives the bulk of its tax revenue, has occasionally delayed distributing its installment of taxes, the District must be careful to monitor its cash flow.

Other significant factors which impact the District are healthcare costs, government mandates, increased competition from private industry, interest rates, employer contribution rates for IMRF, reductions in the availability of grant funding, a tight labor market, changes to the State of Illinois minimum wage laws, and rising costs in just about every area

Through flexible and aggressive management in response to the ever-changing economic conditions, which were beyond management’s control, the District was able to pivot and adapt its programs and services to meet changing needs for our guests.

2023 provided both challenges and benefits for the District The Family Aquatic Center had another one of its best seasons in recent years. Guest visits surpassed the prior year visits again, largely due to camp groups. Usage of the Heritage Park Sports Complex remained high due to increased demand and the facility was able to open for the season earlier than planned and registering 570,778 guest experiences. Demand for golf continued to remain high Weather was favorable in 2023 and Traditions at Chevy Chase was able to operate without any significant flood damage for the third time in the past four years.

2023majorprojectswerelimitedassomesupplyissuescontinuedtohamperprogress.TheDistrictcompleted the Childerley Park renovation project. The Childerley Park Renovation Project, an Illinois Department of Natural Resources Open Space Land Acquisition and Development grant recipient project, commenced in the summer of 2022 and completed in the fall of 2023.

The Health & Fitness Center operations increased its memberships to 2,447 by the end of 2023, compared to a total of 2,003 in 2022. This represents an increase of 22.17% memberships sold year over year. The fitness daily visits increased by 22,844 in fiscal 2023.

Traditions at Chevy Chase had a very good golf season Traditions ended the year with 37,293 rounds of golf compared to over 33,264 rounds in 2022, which was a record-setting year Additionally, Chevy Chase Country Club’s food and beverage operations hosted 419 events totaling 55,440 guests. As a result, Chevy Chase Country Club hosted 35 more events than 2022 and served 3,216 more guest than the prior year.

The District’s philosophy continues to be aware of historical data, while being optimistic for continued and new growth. Focus is placed on maintaining existing assets prior to taking on new projects. The District’s planned capital needs in accordance with its Board approved 2024-2028 Capital Replacement and Improvement Plan will be supported by multiple funding sources and transfers from its Corporate and Recreation Funds to the Capital Projects Fund in a safe manner.

The Park District continues to operate in an efficient manner to maximize the services it is able to provide residents and, despite an ever-changing economy, expectations remain that it will continue to prosper. The District will continue to aggressively stay ahead of economic trends and react to the needs and resources of the community by offering affordable programs, parks, and services to all its residents.

CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT

This financial report is designed to familiarize our citizens, taxpayers and customers with the District’s finances and to demonstrate the District’s fiscal accountability for its operations. Questions concerning this report, or requests for additional financial information, should be directed to Jan Buchs, Executive Director, 100 Community Boulevard, Wheeling, Illinois 60090, telephone (847) 465-2935. The reader may wish also to visit the District’s website at www.wheelingparkdistrict.com

BASIC FINANCIAL STATEMENTS

Receivables (net, where applicable, of allowances for uncollectibles)

WHEELING PARK DISTRICT

STATEMENT OF NET POSITION WHEELING, ILLINOIS

December 31, 2023

WHEELING PARK DISTRICT

WHEELING, ILLINOIS

STATEMENT OF NET POSITION (Continued)

December 31, 2023

WHEELING PARK DISTRICT

For the Year Ended December 31, 2023 WHEELING, ILLINOIS

STATEMENT OF ACTIVITIES

ASSETS

Receivables (net, where applicable, of allowances for uncollectibles)

WHEELING PARK DISTRICT WHEELING, ILLINOIS

BALANCE SHEET GOVERNMENTAL FUNDS

December 31, 2023

LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND FUND BALANCES

WHEELING, ILLINOIS

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

December 31, 2023

FUND BALANCES OF GOVERNMENTAL FUNDS 25,147,126 $

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 42,033,846

Differences between expected and actual experiences, assumption changes, net differences between projected and actual earnings and contributions subsequent to the measurement date for the Illinois Municipal Retirement Fund are recognized as deferred outflows of resources and deferred inflows of resources on the statement of net position

Deferred outflows of resources 1,601,654

Deferred inflows of resources (14,176)

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

Deferred outflows of resources 29,734

Deferred inflows of resources (45,162)

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

General obligation bonds payable (8,079,100)

Net pension liability - Illinois Municipal Retirement Fund (878,577) Total OPEB liability (156,826)

Unamortized premiums on bonds payable (525,507)

Compensated absences payable (176,175)

Accrued interest on long-term liabilities is reported as a liability on the statement of net position (55,641) NET POSITION OF GOVERNMENTAL ACTIVITIES 58,881,196 $

See accompanying notes to financial statements.

FINANCING SOURCES (USES)

WHEELING PARK DISTRICT WHEELING, ILLINOIS

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS

For the Year Ended December 31, 2023

WHEELING PARK DISTRICT

WHEELING, ILLINOIS

RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TO THE GOVERNMENTAL ACTIVITIES IN THE STATEMENT OF ACTIVITIES

For the Year Ended December 31, 2023

NET CHANGE IN FUND BALANCESTOTAL GOVERNMENTAL FUNDS 4,069,056 $

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 1,376,895

Some expenses in the statement of activities do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds

Depreciation of capital assets (3,389,094)

The issuance of long-term debt and related costs are shown on the fund financial statements as other financing sources (uses) and current expenditures but are recorded as long-term liabilities on the government-wide statements

Issuance of general obligation bonds (1,509,100)

The repayment of the principal portion of long-term debt is reported as an expenditure when due in governmental funds but as a reduction of principal outstanding in the statement of activities 2,155,000

Governmental funds report the effect of premiums, discounts and similar items when debt is first issued, whereas these amounts are deferred and amortized in the statement of activities 126,220

The change in accrued interest payable on long-term debt is reported as an expense on the statement of activities (1,872)

The change in the Illinois Municipal Retirement Fund net pension liability and deferred outflows/inflows of resources is not a source or use of a financial resource (93,069)

The change in the total OPEB liability and deferred outflows/inflows of resources is not a source or use of a financial resource (1,575)

The change in compensated absences liability is reported as an expense on the statement of activities 85,864

(net, where applicable,

for uncollectibles)

STATEMENT OF NET POSITION PROPRIETARY FUND (This schedule is continued on the following page.)

December 31, 2023

STATEMENT OF NET POSITION (Continued) PROPRIETARY FUND

December 31, 2023

DEFERRED INFLOWS OF RESOURCES

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITION PROPRIETARY FUND

For the Year Ended December 31, 2023

WHEELING PARK DISTRICT

STATEMENT OF CASH FLOWS PROPRIETARY FUND

For the Year Ended December 31, 2023 Chevy Chase Country Club

CASH FLOWS FROM OPERATING ACTIVITIES Receipts from

$

(2,395,757)

951,136

CASH

CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES

(375,000)

(411,778)

(22,799)

(809,577)

CASH FLOWS FROM INVESTING ACTIVITIES NoneNet cash from investing activitiesNET INCREASE IN CASH AND CASH EQUIVALENTS 331,725 CASH AND CASH EQUIVALENTS, JANUARY 1 2,834,845 CASH AND CASH EQUIVALENTS, DECEMBER 31 3,166,570 $

(This statement is continued on the following page.)

STATEMENT OF CASH FLOWS (Continued) PROPRIETARY FUND

For the Year Ended December 31, 2023

RECONCILIATION OF OPERATING INCOME TO NET CASH FLOWS FROM OPERATING ACTIVITIES

ACTIVITIES

787,182

December 31, 2023

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The financial statements of Wheeling Park District (the District) have been prepared in conformity with accounting principles generally accepted in the United States of America, as applied to government units (hereinafter referred to as generally accepted accounting principles (GAAP)). The Governmental Accounting Standards Board (GASB) is the accepted standard-setting body for establishing governmental accounting and financial reporting principles. The more significant of the District’s accounting policies are described below.

a. Financial Reporting Entity

The District is a municipal corporation governed by an elected seven-member board. As required by GAAP, these financial statements present the District (the primary government). There are no component units that are required to be included in the District’s reporting entity because of the significance of their operational or financial relationship with the District.

b. Fund Accounting

The District uses funds to report on its financial position and the changes in its financial position Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities A fund is a separate accounting entity with a self-balancing set of accounts.

The District’s funds are classified into the following categories: governmental and proprietary.

Governmental funds are used to account for all or most of the District’s general activities, including the collection and disbursement of restricted or committed monies (special revenue funds), the acquisition or construction of major capital assets other than those financed by proprietary funds (capital projects funds) and the accumulation of resources that are restricted, committed or assigned for the payment of principal and interest on long-term obligations (debt service funds). The General Fund is used to account for all activities of the District not accounted for in another fund.

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(Continued)

c. Government-Wide and Fund Financial Statements

Proprietary funds are used to account for activities similar to those found in the private sector, where the determination of net income is necessary or useful to sound financial administration. Goods or services from such activities can be provided either to outside parties (enterprise funds) or to other departments or agencies primarily within the District (internal service funds).

The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all activities of the District. With the exception of interfund services provided and used, the effect of material interfund activity has been eliminated from these statements in the process of consolidation Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant extent on fees and charges for support.

The statement of activities demonstrates the degree to which the direct expenses of a given function, segment or program are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment Program revenues include (1) charges to customers or applicants who purchase, use or directly benefit from goods, services or privileges provided by a given function or segment and (2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues

Separate financial statements are provided for governmental funds and proprietary funds. Major individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements.

The District reports the following major governmental funds:

The Corporate Fund (the District’s General Fund) accounts for the resources traditionally associated with local government, except those accounted for in another fund. Included in these services are general administration and park maintenance. Financing is primarily provided from an annual property tax levy and Illinois personal property replacement taxes

The Recreation Fund accounts for the operations of the District’s recreational programs and concessions. Financing is provided from an annual property tax levy restricted by the state for recreation purposes and fees and charges for programs and activities assigned for recreation purposes.

The Bond and Interest Fund accounts for the accumulation of funds that are restricted or assigned for repayment of principal and interest on the District’s general obligation debt where repayment is financed by an annual property tax levy.

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(Continued)

c. Government-Wide and Fund Financial Statements (Continued)

The Capital Projects Fund was established by the District in 2005 to segregate revenues received from such things as land/cash donations, transfers from other funds, general obligation bonds and grant revenues, which are restricted and assigned for capital projects.

The Bond Project Fund accounts for the proceeds of non-referendum debt which are restricted for capital projects

The District reports the following major proprietary fund:

The Chevy Chase Country Club Fund accounts for the operations of the Chevy Chase Country Club and the operations and maintenance of the Traditions at Chevy Chase Golf Course. Operations include food and beverage sales, sales of related services and merchandise and golf activities. Financing is provided by the proceeds from user changes.

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

The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary fund financial statements Revenues are recorded when earned and expenses are recorded when a liability is incurred. Property taxes are recognized as revenues in the year for which they are levied (i.e., intended to finance). Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. Operating revenues and expenses are directly attributable to the operation of the proprietary funds Non-operating revenue/expenses are incidental to the operations of these funds.

Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Under the modified accrual basis of accounting, revenues are recognized when susceptible to accrual (i.e., when they become both measurable and available). “Measurable” means the amount of the transaction can be determined and “available” means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. The District recognizes property taxes when they become both measurable and available in the year intended to finance Expenditures are recorded when the related fund liability is incurred. Principal and interest on general long-term debt are recorded as expenditures become due.

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(Continued)

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

Those revenues susceptible to accrual (within 60 days) are property taxes, interest revenue and charges for services.

The District reports deferred/unavailable revenue and unearned revenue on its financial statements. Deferred/unavailable revenues arise when a potential revenue does not meet both the measurable and available or earned criteria for recognition in the current period. Unearned revenues also arise when resources are received by the District before it has a legal claim to them or prior to the provision of services, as when grant monies are received prior to the incurrence of qualifying expenditures/expenses. In subsequent periods, when both revenue recognition criteria are met, or when the District has a legal claim to the resources, the deferred inflow for deferred/unavailable revenue or the liability for unearned revenue is removed from the financial statements and revenue is recognized.

e. Cash and Investments

Cash and Cash Equivalents

For purposes of the statement of cash flows, the District considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents.

Investments

Investments with a maturity of less than one year when purchased, non-negotiable certificates of deposit and other nonparticipating investments are stated at cost or amortized cost. Investments with a maturity greater than one year when purchased are stated at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

f. Inventories

Inventories are valued at cost, which approximates market, using the weighted average method.

g. Prepaid Items/Expenses

Payments made to vendors for services that will benefit periods beyond the date of this report are recorded as prepaid items/expenses. Prepaid items/expenses are recorded as expenditures/expenses when consumed rather than when purchased.

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

h Capital Assets

Capital assets, which include property, plant, equipment, infrastructure assets (e.g., bike trails, paths, roads, bridges and similar items) and intangibles (software and easements) are reported in the applicable governmental or business-type activities columns in the government-wide financial statements. Capital assets are defined by the District as assets with an initial, individual cost of more than $5,000 and an estimated useful life in excess of one year. Such assets are reported at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at acquisition value at the date of donation.

The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend asset lives are not capitalized.

Major outlays for capital assets and improvements are capitalized as projects are constructed Property, plant and equipment are depreciated using the straight-line method over the following estimated useful lives:

i. Compensated Absences

Vested or accumulated vacation leave that is owed to retirees or terminated employees is reported as an expenditure and a fund liability of the governmental fund that will pay it. The government-wide financial statements record unused vacation leave as expenses and liabilities when earned by employees. Vested or accumulated vacation leave of proprietary funds is recorded as an expense and liability of those funds as the benefits accrue to employees. No liability is reported for unpaid accumulated sick leave since it is the District’s policy to record the cost of sick leave only when used as it does not vest or accumulate, nor is it paid upon termination and/or retirement.

j. Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, deferred inflows and outflows of resources and disclosure of contingent assets, liabilities and deferred inflows and outflows of resources at the date of the financial statements and the reported amounts of revenues and expenditures/expenses during the reporting period. Actual results could differ from those estimates.

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

k. Long-Term Obligations

In the government-wide financial statements and the proprietary fund in the fund financial statements, long-term debt and other long-term obligations are reported as liabilities in the applicable governmental activities, business-type activities or proprietary fund financial statements. Unamortized losses or gains on refundings, bond premiums and discounts are deferred and amortized over the life of the bonds Bonds payable are reported net of the applicable bond premium or discount. Issuance costs are reported as expenses.

In the fund financial statements, governmental funds recognize bond premiums and discounts during the current period The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as expenditures.

l. Fund Balance/Net Position

In the fund financial statements, governmental funds report nonspendable fund balance for amounts that are either not in spendable form or which are legally or contractually required to be maintained intact. Restrictions of fund balance are reported for amounts constrained by legal restrictions from outside parties for use for a specific purpose or externally imposed by outside entities or from enabling legislation adopted by the District. Committed fund balance is constrained by formal actions of the District’s Board of Commissioners, which is considered the District’s highest level of decision-making authority. Formal action to establish, modify or rescind commitments involves ordinances approved by the Board of Commissioner’s Assigned fund balance represents amounts constrained by the District’s intent to use them for a specific purpose. The authority to assign fund balance has been delegated to the District’s Executive Director through the District’s fund balance policy. Any residual fund balance in the Corporate Fund, including fund balance targets and any deficit fund balance of any other governmental fund is reported as unassigned.

The District’s flow of funds assumption prescribes that the funds with the highest level of constraint are expended first. If restricted or unrestricted funds are available for spending, the restricted funds are spent first Additionally, if different levels of unrestricted funds are available for spending the District considers committed funds to be expended first followed by assigned funds and then unassigned funds.

In the government-wide financial statements, restricted net position is legally restricted by outside parties for a specific purpose Net investment in capital assets represents the book value of capital assets less any long-term debt issued to acquire or construct the capital assets.

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

m Interfund Transactions

Interfund transactions are accounted for as revenues, expenditures or expenses. Transactions that constitute reimbursements to a fund for expenditures/expenses initially made from it that are properly applicable to another fund are recorded as expenditures/expenses in the reimbursing fund and as reductions of expenditures/expenses in the fund that is reimbursed.

All other interfund transactions, except reimbursements, are reported as transfers.

n.

Deferred Outflows/Inflows of Resources

In addition to assets, the statement of financial position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net assets that applies to future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until that time. In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net assets that applies to future period(s) and so it will not be recognized as an inflow of resources (revenue) until that time. These amounts are deferred and recognized as an inflow of resources in the period these amounts become available.

2. DEPOSITS AND INVESTMENTS

The District categorizes the fair value measurements within the fair value hierarchy established by GAAP The hierarchy is based on the valuation inputs used to measure the fair value of the asset. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; and Level 3 inputs are significant unobservable inputs.

Permitted Deposits and Investments - Illinois Compiled Statutes (ILCS) and the District’s investment policy authorize the District to invest in obligations issued by the United States Government, investments constituting direct obligations of any bank, short-term commercial paper of United States of America corporations with assets exceeding $500 million, short-term obligations issued by the Federal National Mortgage Association, shares or other securities issued by savings and loan associations, share accounts of credit unions chartered in the United States of America with its principal office located in Illinois, securities issued by The Illinois Funds, Illinois Park District Liquid Asset Fund (IPDLAF), Illinois Metropolitan Investment Fund (IMET) and other securities as allowed by the Illinois Public Funds Investment Act. IMET meets the criteria contained in GASB Statement No. 79, Certain External Investment Pools and Pool Participants. This allows the District to measure all of its investments in IMET at amortized cost.

2. DEPOSITS AND INVESTMENTS (Continued)

In addition, the Board of Commissioners of the District has adopted an investment policy which provides further restrictions on the investment of District funds. It is the policy of the District to invest its funds in a manner which will provide the highest investment return with the maximum security while meeting the daily cash flow demands of the District and conforming to all state and local statutes governing the investment of public funds, using the “prudent person” standard for managing the overall portfolio. The primary objectives of the policy, in order of priority are: legality, safety (preservation of capital and protection of investment principal), liquidity and yield

Deposits with Financial Institutions

Custodial credit risk for deposits with financial institutions is the risk that in the event of bank failure, the District’s deposits may not be returned to it. The District’s investment policy requires pledging of collateral to be held in the name of the District by the District’s agent with a fair value of at least 105% for all bank balances in excess of federal depository insurance.

Investments

The following table presents the investments and maturities of the District’s debt securities as of December 31, 2023:

In accordance with its investment policy, the District limits its exposure to interest rate risk by structuring its portfolio so that securities mature to meet cash requirements for ongoing operations, thereby avoiding the need to sell securities on the open market prior to maturity and by investing operating funds primarily in short-term securities.

The District has the following recurring fair value measurements as of December 31, 2023:

The U S Treasury and negotiable CD’s are valued using quoted matrix pricing models (Level 2 inputs).

Credit risk is the risk that the issuer of a debt security will not pay its par value upon maturity. The District limits this risk by investing in certificate of deposits, with various financial institutions which is consistent with the District’s investment policy.

The negotiable certificates of deposits are not rated.

2. DEPOSITS AND INVESTMENTS (Continued)

Investments (Continued)

Concentration of credit risk is the risk that the District has a high percentage of their investments invested in one type of investment. The District’s investment policy requires diversification of investment to avoid unreasonable risk.

Custodial credit risk for investments is the risk that, in the event of the failure of the counterparty to the investment, the District will not be able to recover the value of its investments that are in possession of an outside party To limit its exposure, the District’s investment policy requires all security transactions that are exposed to custodial credit risk to be processed on a delivery versus payment (DVP) basis with the underlying investments held in a custodial account with the trust department of an approved financial institution.

At December 31, 2023, the District did not have greater than 5% of its overall portfolio invested in any institution. The investment policy does not include any limitations on individual investment types.

3. RECEIVABLES Taxes

Property taxes for 2022 attach as an enforceable lien on January 1, 2022, on property values assessed as of the same date. Taxes are levied by December of the fiscal year (by passage of a Tax Levy Ordinance). Tax bills for the 2022 levy are prepared by Cook County and issued on or about February 1, 2023 and July 1, 2032 and are payable in two installments on or about March 1, 2023 and August 1, 2023. Tax bills are prepared by Lake County and are issued on or about May 1, 2023 and August 1, 2023 and are payable in two installments on or about June 1, 2022 and September 1, 2022. The Counties collect such taxes and remit them periodically. The allowance for uncollectible taxes has been stated at 3% of the tax levy, to reflect actual collection experience. Since 2023 levy is intended to fund the 2024 calendar year the levy has been recorded as a receivable and deferred inflow of resources.

4. JOINT GOVERNED ORGANIZATION - NORTHWEST SPECIAL RECREATION ASSOCIATION

The District is a member of the Northwest Special Recreation Association (NWSRA), which was organized by 16 area park districts in order to provide special recreation programs to the physically and mentally handicapped within their districts and to share the expenses of such programs on a cooperative basis. Each member districts’ fiscal year 2023 contribution is based on its pro rata share of 75% of the assessed valuation and 25% of the gross populations For the year ended December 31, 2023, the District contributed $240,528 to NWSRA.

4. JOINT GOVERNED ORGANIZATION - NORTHWEST SPECIAL RECREATION ASSOCIATION

(Continued)

NWSRA’s Board of Directors consists of one member from each participating district The Board of Directors is the governing body of NWSRA and is responsible for establishing all major policies and changes therein and for approving all budgets, capital outlay, programming and master plans. The District is not financially accountable for the activities of NWSRA and, accordingly, NWSRA has not been included in the accompanying financial statements.

Complete financial statements for NWSRA can be obtained from NWSRA administrative offices at 3000 Central Road, Rolling Meadows, Illinois, 60008

5. CAPITAL ASSETS

Capital asset activity for the year ended December 31, 2023, was as follows:

5. CAPITAL ASSETS (Continued)

Depreciation expense was charged to functions/programs of the primary government as follows:

6. RISK MANAGEMENT

EXPENSE –

$ 3,389,094

The District is exposed to various risks of loss to torts; theft of, damage to and destruction of assets; errors and omissions; injuries to employees; illnesses of employees; and natural disasters.

6. RISK MANAGEMENT (Continued)

a. Park District Risk Management Agency

Since 1984, the District has been a member of the Park District Risk Management Agency (PDRMA) Property/Casualty Program. PDRMA is a public entity risk pool consisting of park districts, forest preserve districts, special recreation associations and certain nonprofit organizations serving the needs of public entities formed in accordance with the terms of an intergovernmental cooperative agreement among its members.

Losses exceeding the per occurrence self-insured and reinsurance limit would be the responsibility of the District.

As a member of PDRMA’s Property/Casualty Program, the District is represented on the Property/Casualty Program Council and the Membership Assembly and is entitled to one vote on each. The relationship between the District and PDRMA is governed by a contract and by-laws that have been adopted by resolution of the District’s governing body. The District is contractually obligated to make all annual and supplementary contributions to PDRMA, to report claims on a timely basis, cooperate with PDRMA, its claims administrator and attorneys in claims investigation and settlement, and to follow risk management procedures as outlined by PDRMA

The District does not exercise any control over the activities of PDRMA beyond its representation on the Council and Membership Assembly.

Members have a contractual obligation to fund any deficit of PDRMA attributable to a membership year during which they were a member. The District is not aware of any supplemental assessments owed to PDRMA for the past claim year.

PDRMA is responsible for administering the self-insurance program and purchasing excess insurance according to the direction of the Program Council PDRMA also provides its members with risk management services, including the defense of and settlement of claims, and establishes reasonable and necessary loss reduction and prevention procedures to be followed by the members.

The District’s payments to the PDRMA Property/Casualty Program are displayed on the financial statements as expenditures in the governmental funds.

Since 88.94% of PDRMA’s liabilities are reserves for losses and loss adjustment expenses which are based on an actuarial estimate of the ultimate losses incurred, the member balances are impacted annually as more recent loss information becomes available.

6. RISK MANAGEMENT (Continued)

a. Park District Risk Management Agency (Continued)

Complete financial statements for PDRMA can be obtained from PDRMA’s administration offices at 2033 Burlington Avenue, Lisle, Illinois 60532.

b. PDRMA Health Program

Since 1994, the District has participated in the PDRMA Health Program, a health benefits pool of park districts, special recreation associations and public service organizations through which medical, vision, dental, life and prescription drug coverages are provided in excess of specified limits for the members, acting as a single insurable unit. The pool purchases excess insurance covering single claims over $250,000. Until January 1, 2001, the PDRMA Health Program was a separate legal entity known as the Illinois Park Employees Health Network (IPEHN). The District’s payments to the PDRMA Health Program are displayed on the financial statements as expenditures in the governmental funds.

Members can choose to provide any combination of coverages available to their employees and pay premiums accordingly.

As a member of the PDRMA Health Program, the District is represented on the Health Program Council as well as the Membership Assembly and is entitled to one vote on each The relationship between the District and the PDRMA Health Program is governed by a contract and by-laws that have been adopted by resolution of each member’s governing body. Members are contractually obligated to make all monthly payments to the PDRMA Health Program and to fund any deficit of the PDRMA Health Program upon dissolution of the pool. They will share in any surplus of the pool based on a decision by the Health Program Council.

The District does not have any control over the activities of the PDRMA Health Program beyond its representation on the Health Program Council and Membership Assembly. The District is not aware of any supplemental contributions owed to the PDRMA Health Program at December 31, 2023.

A large percentage of the PDRMA Health Program’s liabilities are reserves for losses and loss adjustment expenses, which are based on an actuarial estimate of the ultimate losses incurred.

Complete financial statements for the PDRMA Health Program can be obtained from PDRMA’s administration offices at 2033 Burlington Avenue, Lisle, Illinois 60532.

7.

LONG-TERM DEBT

a. General Obligation Bonds

The District issues general obligation bonds to provide funds for the acquisition and construction of major capital facilities. In addition, general obligation bonds have been issued to refund general obligation bonds. General obligation bonds are direct obligations and pledge the full faith and credit of the District. General obligation bonds currently outstanding are as follows:

GOVERNMENTAL

$3,375,000 General Obligation Park Bonds (Alternate Revenue Source), Series 2018A, due in installments of $160,000 to $290,000 plus interest at 3.10% to 5.00% through November 1, 2033.

$5,205,000 General Obligation Refunding Bonds (Alternate Revenue Source), Series 2020, due in installments of $140,000 to $645,000 plus interest at 3% to 4% through November 1, 2030

$1,460,000 General Obligation Limited Tax Park Bonds, Series 2022, due in one installment of $1,460,000 plus interest at 3.40%, payable on November 1, 2023 (direct placement).

$1,509,100 General Obligation Limited Tax Park Bonds, Series 2023, due in one installment of $1,509,100 plus interest at 4.80%, payable on November 1, 2024 (direct placement).

and

7. LONG-TERM DEBT

(Continued)

a. General Obligation Bonds (Continued)

BUSINESS-TYPE ACTIVITIES

$3,380,000 General Obligation Park Bonds (Alternate Revenue Source), Series 2014A, due in installments of $295,000 to $385,000 plus interest at 3% through November 1, 2024.

General Obligation Park Bonds (Alternate Revenue Source), Series 2014A

The alternate revenue bonds and the interest thereon are limited obligations of the District payable solely from the pledged revenues. The pledged revenues are the revenues received by the Corporate Fund to the fullest extent permitted by law. However, the District intends to pay a portion of the debt service on the bonds from the net revenues of the Chevy Case Country Club and, accordingly, the bonds are reported as a liability of that fund. This pledge will remain until all bonds are retired or mature in 2024, as disclosed above. During the current fiscal year, the principal and interest on the bonds was approximately 7% of the pledged revenues

General Obligation Taxable Bonds (Alternate Revenue Source), Series 2018A

The alternate revenue bonds and the interest thereon are limited obligations of the District payable solely from the pledged revenues. The pledged revenues are the moneys lawfully available in the District’s recreation fund. If such revenue sources are insufficient to pay such alternate revenue bonds, ad valorem property taxes levied upon all available property in the District without limitation as to rate or amount, are authorized to be extended and collected to pay the principal and interest on such alternate revenue bonds. This pledge will remain until all bonds are retired or mature in 2033, as disclosed above. During the current fiscal year, the principal and interest on the bonds was approximately 4% of the pledged revenues.

7. LONG-TERM DEBT

(Continued)

a. General Obligation Bonds (Continued)

General Obligation Refunding Park Bonds (Alternate Revenue Source), Series 2020

The alternate revenue bonds and the interest thereon are limited obligations of the District payable solely from the pledged revenues. The pledged revenues are the moneys lawfully available in the District’s recreation fund If such revenue sources are insufficient to pay such alternate revenue bonds, ad valorem property taxes levied upon all available property in the District without limitation as to rate or amount, are authorized to be extended and collected to pay the principal and interest on such alternate revenue bonds. This pledge will remain until all bonds are retired or mature in 2030, as disclosed above. During the current fiscal year, the principal and interest on the bonds was approximately 9% of the pledged revenues.

General Obligation Limited Tax Park Bonds, Series 2023 (Direct Placement)

The District issued $1,509,100 General Obligation Limited Tax Park Bonds, Series 2023 to finance various improvements. The bonds were issued directly to a bank, bear interest at 4.80% and are payable in one installment on November 1, 2024. The bonds are considered general obligations payable from property taxes. The bonds are pledged by the bank to the District to secure any uninsured deposits that the District may have at the bank.

Annual debt service requirements to maturity are as follows:

7. LONG-TERM DEBT (Continued)

a. General Obligation Bonds (Continued)

General Obligation BondsDirect Placement Ending Governmental Activities December 31, Principal Interest

Fiscal Year

b.

Changes in Long-Term Liabilities

During the fiscal year, the following changes occurred in long-term liabilities:

*Primarily liquidated by the Corporate Fund and Recreation Fund. **The net pension liability was a net pension asset as of December 31, 2022.

7. LONG-TERM

DEBT

(Continued)

c. Legal Debt Margin

Chapter 70, Section 1205/6-2 of the Illinois Compiled Statutes provides, “ ... for the payment of land condemned or purchased for parks or boulevards, for the building, maintaining, improving and protecting of the same and for the payment of the expenses incident thereto, or for the acquisition of real estate and lands to be used as a site for an armory, any park district is authorized to issue the bonds or notes of such park district and pledge its property and credit therefore to an amount including existing indebtedness of such district so that the aggregate indebtedness of such district does not exceed 2.875% of the value of the taxable property therein, to be ascertained by the last assessment for state and county taxes previous to the issue from time to time of such bonds or notes or, until January 1, 1983, if greater, the sum that is produced by multiplying the District’s 1978 equalized assessed valuation by the debt limitation percentage in effect on January 1, 1979, if a petition, signed by voters in number equal to not less than 2% of the voters of the District, who voted at the last general election in the District, asking that the authorized aggregate indebtedness of the District be increased to not more than 5.75% of the value of the taxable property therein, is presented to the Board and such increase is approved by the voters of the District at a referendum held on the question.”

In 1977, such a referendum was approved (from 2.50% to 5.00%) When the personal property tax was eliminated, the limitation was raised to 5.75%.

8. INDIVIDUAL FUND DISCLOSURES

a. Due From/To Other Funds

Individual fund interfund receivables/payables are as follows:

108,965

Interfund receivables/payables represent short-term loans between funds. Repayment is expected within one year.

8. INTERFUND TRANSFERS (Continued)

b. Advances

Individual fund advances to/from other funds are as follows: Receivable Fund Payable Fund Amount

The advance to/from other funds represents a long-term loan that will not be repaid within one year.

c Interfund Transfers

Interfund transfers for the year ended December 31, 2023, were as follows:

MAJOR GOVERNMENTAL

8. INTERFUND TRANSFERS (Continued)

c. Interfund Transfers (Continued)

MAJOR BUSINESS-TYPE

Chevy Chase Country Club

Transfers In Transfers Out

$ -

$ 4,244,819

Transfers In Transfers Out

The purpose of significant transfers is as follows:

• $3,389,527 was transferred to the Capital Projects Fund from the Corporate Fund and Recreation Funds to fund various capital projects. These transfers will not be repaid.

• $665,126 was transferred to the Bond and Interest Fund from the Corporate and Recreation Funds for debt service payments. These transfers will not be repaid.

• $190,166 transferred to the Chevy Chase Country Club Fund from the Corporate Fund for debt service payments. These transfers will not be repaid.

• $480,817 transfer of capital assets from Governmental Activities to BusinessType Activities.

9. CONTINGENT LIABILITIES Litigation

The District is a defendant in various lawsuits. Although the outcome of these lawsuits is not presently determinable, in the opinion of the District’s attorney, the resolution of these matters will not have a material adverse effect on the financial condition of the District.

9. CONTINGENT LIABILITIES (Continued)

Litigation (Continued)

Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies, principally the federal government. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures which may be disallowed by the grantor cannot be determined at this time although the District expects such amounts, if any, to be immaterial.

10. DEFINED BENEFIT PENSION PLAN

The District’s defined benefit pension plan for regular employees provides retirement and disability benefits, postretirement increases and death benefits to plan members and beneficiaries. The employer plan is affiliated with the IMRF, an agent multiple-employer plan. Benefit provisions are established by statute and may only be changed by the General Assembly of the State of Illinois. IMRF issues a publicly available financial report that includes financial statements and required supplementary information (RSI). That report may be obtained at www.imrf.org.

Illinois Municipal Retirement Fund

Plan Administration

All employees hired in positions that meet or exceed the prescribed annual hourly standard must be enrolled in IMRF as participating members.

The plan is accounted for on the economic resources measurement focus and the accrual basis of accounting. Employer and employee contributions are recognized when earned in the year that the contributions are required, benefits and refunds are recognized as an expense and liability when due and payable.

Plan Membership

At December 31, 2022 (most recent data available), IMRF membership consisted of:

10. DEFINED BENEFIT PENSION PLAN (Continued)

Illinois Municipal Retirement Fund (Continued)

Benefits Provided

All employees hired in positions that meet or exceed the prescribed annual hourly standard must be enrolled in IMRF as participating members. IMRF provides two tiers of pension benefits. Employees hired prior to January 1, 2011, are eligible for Tier 1 benefits. For Tier 1 employees, pension benefits vest after eight years of service. Participating members who retire at age 55 (reduced benefits) or after age 60 (full benefits) with eight years of credited service are entitled to an annual retirement benefit, payable monthly for life, in an amount equal to 1 2/3% of their final rate of earnings, for each year of credited service up to 15 years, and 2% for each year thereafter.

Employees hired on or after January 1, 2011, are eligible for Tier 2 benefits. For Tier 2 employees, pension benefits vest after ten years of service. Participating members who retire at age 62 (reduced benefits) or after age 67 (full benefits) with ten years of credited service are entitled to an annual retirement benefit, payable monthly for life, in an amount equal to 1 2/3% of their final rate of earnings, for each year of credited service up to 15 years, and 2% for each year thereafter.

IMRF also provides death and disability benefits. These benefit provisions are established by state statute.

Contributions

Participating members are required to contribute 4.50% of their annual salary to IMRF. The District is required to contribute the remaining amounts necessary to fund IMRF as specified by statute. The employer contribution rate for the fiscal year ended December 31, 2023, was 4.33% of covered payroll.

10. DEFINED BENEFIT PENSION PLAN (Continued)

Illinois Municipal Retirement Fund (Continued)

Actuarial Assumptions

The District’s net pension liability was measured as of December 31, 2022, (most recent data available) 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, 2021

Actuarial cost method Entry-age normal

For nondisabled retirees, the Pub-2010, Amount-Weighted, below-median income, General, Retiree, Male (adjusted 106%) and Female (adjusted 105%) tables, and future mortality improvements projected using scale MP-2020. For disabled retirees, the Pub2010, Amount-Weighted, below-median income, General, Disabled Retiree, Male and Female (both unadjusted) tables, and future mortality improvements projected using scale MP-2020. For active members, the Pub-2010, Amount-Weighted, below-median income, General, Employee, Male and Female (both unadjusted) tables, and future mortality improvements projected using scale MP-2020.

Discount Rate

The discount rate used to measure the total pension liability was 7.25%. The projection of cash flows used to determine the discount rate assumed that member contributions will be made at the current contribution rate and that the District contributions will be made at rates equal to the difference between actuarially determined contribution rates and the member rate. Based on those assumptions, the IMRF’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members.

10. DEFINED BENEFIT PENSION PLAN

(Continued)

Illinois Municipal Retirement Fund (Continued)

Changes in the Net Pension Liability (Asset)

31,

There were no changes in assumptions made since the prior valuation.

Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources

For the year ended December 31, 2023, the District recognized pension expense of $484,728.

10. DEFINED BENEFIT PENSION PLAN

(Continued)

Illinois Municipal Retirement Fund (Continued)

Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources (Continued)

At December 31, 2023, the District reported deferred outflows of resources and deferred inflows of resources related to IMRF from the following sources:

$241,374 reported as deferred outflows of resources related to pensions resulting from district contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the reporting year ending December 31, 2024. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows:

10. DEFINED BENEFIT PENSION PLAN

(Continued)

Illinois Municipal Retirement Fund (Continued)

Discount Rate Sensitivity

The following is a sensitivity analysis of the net pension liability (asset) to changes in the discount rate. The table below presents the net pension liability (asset) of the District calculated using the discount rate of 7.25% as well as what the District’s net pension liability (asset) would be if it were calculated using a discount rate that is 1 percentage point lower (6 25%) or 1 percentage point higher (8.25%) than the current rate:

1% Decrease Current Discount Rate 1% Increase (6.25%) (7.25%) (8.25%)

Net pension liability (asset) $ 3,853,132 $ 1,157,223 $ (972,865)

11. OTHER POSTEMPLOYMENT BENEFITS

a. Plan Description

In addition to providing the pension benefits described, the District provides other postemployment health care benefits (OPEB) for retired employees through a singleemployer defined benefit plan. The benefits, benefit levels, employee contributions and employer contributions are governed by the District and can be amended by the District through its personnel manual. No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement No. 75. The plan does not issue a separate report. The activity of the plan is reported in the District’s governmental and business-type activities.

b. Benefits Provided

The District provides continued health insurance coverage at the active employer rate to all eligible employees in accordance with ILCS, which creates an implicit subsidy of retiree health insurance. To be eligible for benefits, an employee must qualify for retirement under the District’s retirement plan. Upon a retiree reaching age 65 years of age, Medicare becomes the primary insurer and the retiree is no longer eligible to participate in the plan, but can purchase a Medicare supplement plan from the District’s insurance provider.

11. OTHER POSTEMPLOYMENT BENEFITS (Continued)

c. Membership

At September 30, 2023, (the latest information available), membership consisted of:

Inactive fund members or beneficiaries currently receiving benefits payments 1

d. Actuarial Assumptions and Other Inputs

The total OPEB liability was determined by an actuarial valuation performed as of September 30, 2023, using the following actuarial methods and assumptions.

Actuarial valuation date September 30, 2023

Actuarial cost method Entry-age normal

Healthcare cost trend rates

6.00% graded to 4.50% over 15 years (Medical) and 9.00% graded to 4.50% over 17 years (Prescription)

Asset valuation method N/A

Mortality rates

Pub-2010 rates projected generationally using Scale MP-2020

11. OTHER POSTEMPLOYMENT BENEFITS (Continued)

e. Discount Rate

The discount rate was based on the General Obligation Municipal Bond Rate as of September 30, 2023.

f. Changes in the Total OPEB Liability

AT JANUARY 1, 2023

AT DECEMBER 31, 2023

In 2023, the discount rate used was increased from 4.02% to 4.09%; valuation-year per capita health costs and retiree contributions rates were updated; trend rates on per capita health costs and contribution rates were modified; and factors used to estimate individual retiree and spouse costs by age and gender were updated.

g. Rate Sensitivity

The following is a sensitive analysis of total OPEB liability to changes in the discount rate and the healthcare cost trend rate. The table below presents the total OPEB liability of the District calculated using the discount rate of 4.09% as well as what the District’s total OPEB liability would be if it were calculated using a discount rate that is 1 percentage point lower (3.09%) or 1 percentage point higher (5.09%) than the current rate:

11. OTHER POSTEMPLOYMENT BENEFITS (Continued)

g. Rate Sensitivity (Continued)

The table below presents the total OPEB liability of the District calculated using the healthcare rate of 6% to 9% as well as what the District’s total OPEB liability would be if it were calculated using a healthcare rate that is 1 percentage point lower (5% to 8%) or 1 percentage point higher (7% to 10%) than the current rate:

h. OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB

For the year ended December 31, 2023, the District recognized OPEB expense of $5,812. At December 31, 2023, the District reported deferred inflows of resources related to OPEB from the following sources:

Amounts reported as deferred inflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows:

REQUIRED SUPPLEMENTARY INFORMATION

WHEELING PARK DISTRICT

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

For the Year Ended December 31, 2023

WHEELING PARK DISTRICT WHEELING, ILLINOIS

For the Year Ended December 31, 2023

EXCESS (DEFICIENCY) OF REVENUES

OTHER FINANCING SOURCES (USES) Transfers (out)

FUND BALANCE, JANUARY 1 1,471,943

BALANCE, DECEMBER 31 1,839,857 $

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL RECREATION FUND (See independent auditor's report.)

WHEELING PARK DISTRICT WHEELING, ILLINOIS

SCHEDULE OF EMPLOYER CONTRIBUTIONS ILLINOIS MUNICIPAL RETIREMENT FUND

Last Nine Fiscal Years

Notes to Required Supplementary Information

The information presented was determined as part of the actuarial valuation as of January 1 the prior fiscal year. Additional information as of the latest actuarial valuation presented is as follows: the actuarial cost method was aggregate entry-age normal; the amortization method was level percentage of payroll, closed; the amortization period was 21 years, closed, until the remaining period reaches ten years, then ten-year rolling period; the asset valuation method was five-year smoothed market with a 20% corridor and the significant actuarial assumptions were an investment rate of return at 7.25% annually; projected salary increases of 2.85% to 13.75% compounded annually, including inflation.

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

MEASUREMENT DATE DECEMBER 31,

WHEELING PARK DISTRICT WHEELING, ILLINOIS

SCHEDULE OF CHANGES IN THE EMPLOYER'S NET PENSION LIABILITY (ASSET) AND RELATED RATIOS ILLINOIS MUNICIPAL RETIREMENT FUND

Last Nine Fiscal Years

Plan fiduciary net position as a percentage of the

Employer's net pension liability (asset) as

In 2020 changes in assumptions were made to the inflation rate, salary increases and mortality rate.

In 2018 the discount rate changed from 7.50% to 7.25%.

Changes in assumptions were made related to retirement age and mortality in 2014 and 2017 and the discount rate in 2015 and 2016.

Ultimately, this schedule should present information for the last ten years. However, until ten years of information can be compiled, information will be presented for as many years as is available. (See independent auditor's report.)

MEASUREMENT DATE DECEMBER 31,

WHEELING PARK DISTRICT

WHEELING, ILLINOIS

SCHEDULE OF CHANGES IN THE EMPLOYER'S TOTAL OPEB LIABILITY AND RELATED RATIOS OTHER POSTRETIREMENT BENEFIT PLAN

Last Six Fiscal Years

No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement No. 75.

In 2023, the discount rate used was increased from 4.02% to 4.09%; valuation-year per capita health costs and retiree contributions rates were updated; trend rates on per capita health costs and contribution rates were modified; and factors used to estimate individual retiree and spouse costs by age and gender were updated.

In 2022, the discount rate used was increased from 2.26 to 4.02%; valuation-year per capita health costs and retiree contributions rates were updated; and trend rates on per capita health costs and contribution rates were modified.

In 2021, the discount rate used was increased from 2.21% to 2.26%; valuation-year per capita health costs and retiree contributions rates were updated; trend rates on per capita health costs and contribution rates were modified; the assumed salary increases, mortality, disability, withdrawal and retirement rates were modified; and, the percentage of future retirees assumed to have a spouse who elects health coverage was modified.

In 2020, the discount rate used was decreased from 2.66% to 2.21%, valuation-year per capita health costs and retiree contributions rates were updated, trend rates on per capita health costs and contribution rates were modified and the excise tax was removed.

In 2018 and 2019, there were changes in assumptions related to the discount rate.

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

WHEELING PARK DISTRICT

NOTES TO REQUIRED SUPPLEMENTARY INFORMATION

December 31, 2023

BUDGETS

Budgets are adopted on a basis consistent with GAAP. Annual appropriated budgets are adopted for the General, Special Revenue, Debt Service, Capital Projects and Enterprise Funds.

The budget is prepared by fund, function and activity and includes information on the past year, current year estimates and requested appropriations for the next fiscal year.

The proposed budget is presented to the governing body for review. The governing body holds public hearings and may add to, subtract from or change appropriations but may not change the form of the budget.

The budget may be amended by the governing body. The original and final operating budget is presented in these financial statements. There were no budget amendments and one supplemental appropriation during the current fiscal year.

Expenditures may not legally exceed budgeted appropriations at the fund level.

The following governmental funds had an excess of actual expenditures over appropriations for the fiscal year.

COMBINING AND INDIVIDUAL FUND

FINANCIAL STATEMENTS AND SCHEDULES

MAJOR GOVERNMENTAL FUNDS

WHEELING PARK DISTRICT

WHEELING, ILLINOIS

SCHEDULE OF REVENUES - BUDGET AND ACTUAL

CORPORATE FUND

For the Year Ended December 31, 2023

GOVERNMENT

WHEELING PARK DISTRICT

WHEELING, ILLINOIS

SCHEDULE OF EXPENDITURES(This schedule is continued on the following pages.)

BUDGET AND ACTUAL

CORPORATE FUND

For the Year Ended December 31, 2023

SCHEDULE OF EXPENDITURESBUDGET AND ACTUAL (Continued) CORPORATE FUND

For the Year Ended December 31, 2023

GENERAL GOVERNMENT (Continued)

(Continued)

CULTURE AND RECREATION Programs

Contractual/general

WHEELING PARK DISTRICT

SCHEDULE OF EXPENDITURESBUDGET AND ACTUAL (Continued) CORPORATE FUND

For the Year Ended December 31, 2023

WHEELING PARK DISTRICT WHEELING, ILLINOIS

SCHEDULE OF REVENUES - BUDGET AND ACTUAL RECREATION FUND

For the Year Ended December 31, 2023

(This schedule is continued on the following page.)

WHEELING PARK DISTRICT WHEELING, ILLINOIS

SCHEDULE OF REVENUES - BUDGET AND ACTUAL (Continued) RECREATION FUND

For the Year Ended December 31, 2023

CHARGES FOR SERVICES (Continued)

CULTURE AND RECREATION

WHEELING PARK DISTRICT

WHEELING, ILLINOIS

SCHEDULE OF EXPENDITURESBUDGET AND ACTUAL

RECREATION FUND

For the Year Ended December 31, 2023

(This schedule is continued on the following pages.)

WHEELING PARK DISTRICT

SCHEDULE OF EXPENDITURESBUDGET AND ACTUAL (Continued) RECREATION FUND

For the Year Ended December 31, 2023

CULTURE AND RECREATION (Continued)

Administration (Continued)

Supplies and

(Continued)

(This schedule is continued on the following pages.)

WHEELING PARK DISTRICT WHEELING, ILLINOIS

SCHEDULE OF EXPENDITURESBUDGET AND ACTUAL (Continued) RECREATION FUND

For the Year Ended December 31, 2023

CULTURE AND RECREATION (Continued)

(This schedule is continued on the following page.)

WHEELING PARK DISTRICT WHEELING, ILLINOIS

SCHEDULE OF EXPENDITURESBUDGET AND ACTUAL (Continued) RECREATION FUND

For the Year Ended December 31, 2023

CULTURE AND RECREATION (Continued)

Programs (Continued)

REVENUES Taxes

WHEELING PARK DISTRICT WHEELING, ILLINOIS

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL BOND AND INTEREST FUND

For the Year Ended December 31, 2023 Original and Final Original and Appropriation Final

EXCESS (DEFICIENCY) OF REVENUES OVER

OTHER

(USES)

WHEELING PARK DISTRICT

WHEELING, ILLINOIS

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES

For the Year Ended December 31, 2023

EXCESS (DEFICIENCY) OF REVENUES

CAPITAL PROJECTS FUND IN FUND BALANCE - BUDGET AND ACTUAL (See independent auditor's report.)

FUND BALANCE, JANUARY 1 12,834,052 FUND BALANCE, DECEMBER 31 15,443,838 $

WHEELING PARK DISTRICT

For the Year Ended December 31, 2023 BOND PROJECT FUND IN FUND BALANCE - BUDGET AND ACTUAL

EXCESS (DEFICIENCY) OF REVENUES

OTHER FINANCING SOURCES (USES)

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES (See independent auditor's report.)

5,289,679 $ WHEELING, ILLINOIS

(uses)

NONMAJOR GOVERNMENTAL FUNDS

SPECIAL REVENUE FUNDS

Special revenue funds are established to account for the proceeds of specific revenue sources (other than special assessments or for major capital projects) that are legally restricted or committed to expenditure for specified purposes.

Tort Immunity Fund - This fund accounts for the costs of insurance, risk management, staff safety related training and loss prevention and reduction services. Financing is provided by a specific restricted annual property tax levy.

Audit Fund - This fund covers the expense of the annual audit of the District’s financial statements as required by law. Financing is provided by a specific restricted annual property tax levy.

IMRF Fund - This fund accounts for the activities resulting from the District’s participation in the Illinois Municipal Retirement Fund. Financing is provided by a specific restricted annual property tax levy, which produces a sufficient amount to pay the District’s contributions to IMRF on behalf of the District’s employees.

FICA Fund - This fund accounts for the District’s obligation for Social Security and Medicare taxes. Financing is provided by a specific restricted annual property tax levy, which produces a sufficient amount to pay the District’s contribution.

Museum Fund - This fund covers the expenses to maintain the Museum and Church at Chamber Park. Financing is provided by a specific restricted annual property tax levy.

Special Populations Fund - This fund primarily pays for the District’s membership in the NWSRA, other programs that target specific populations and facilities that also target specific populations. Financing is provided by a specific restricted annual property tax levy.

Police Fund - This fund covers the District’s expense for its own park security force. Financing is provided by a specific restricted annual property tax levy.

Paving and Lighting Fund - This fund contains the expenses for constructing, maintaining and lighting roadways within the District’s parks and facilities. Financing is provided by a specific restricted annual property tax levy.

Receivables (net, where applicable, of allowances for uncollectibles)

WHEELING PARK DISTRICT WHEELING, ILLINOIS

COMBINING BALANCE SHEET

NONMAJOR GOVERNMENTAL FUNDS

December 31, 2023

LIABILITIES, DEFERRED INFLOWS

RESOURCES AND FUND BALANCES

EXPENDITURES

WHEELING PARK DISTRICT WHEELING, ILLINOIS

COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS

For the Year Ended December 31, 2023

Special Revenue

Special

WHEELING PARK DISTRICT

WHEELING, ILLINOIS

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES

IN FUND BALANCE - BUDGET AND ACTUAL

TORT IMMUNITY FUND

For the Year Ended December 31, 2023

independent auditor's report.)

REVENUES Taxes

WHEELING PARK DISTRICT

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

For the Year Ended December 31, 2023 Original and Final Original and Appropriation Final

WHEELING PARK DISTRICT WHEELING, ILLINOIS

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

For the Year Ended December 31, 2023 Original and Final Original and Appropriation Final

REVENUES Taxes

EXPENDITURES

WHEELING PARK DISTRICT WHEELING, ILLINOIS

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

For the Year Ended December 31, 2023 Original and Final Original and Appropriation Final

REVENUES Taxes

EXPENDITURES

REVENUES Taxes

WHEELING PARK DISTRICT WHEELING, ILLINOIS

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

For the Year Ended December 31, 2023 Original and Final Original and Appropriation Final Budget

BALANCE, DECEMBER 31

$ (See independent auditor's report.)

WHEELING PARK DISTRICT WHEELING, ILLINOIS

SCHEDULE OF EXPENDITURESBUDGET AND ACTUAL MUSEUM FUND

For the Year Ended December 31, 2023

CULTURE AND RECREATION

REVENUES Taxes

EXPENDITURES

WHEELING PARK DISTRICT WHEELING, ILLINOIS

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL SPECIAL POPULATIONS FUND For the Year Ended December 31, 2023 Original and Final Original and Appropriation

FUND BALANCE, JANUARY 1

FUND BALANCE, DECEMBER 31

WHEELING PARK DISTRICT

WHEELING, ILLINOIS

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES

IN FUND BALANCE - BUDGET AND ACTUAL POLICE FUND

For the Year Ended December 31, 2023

FUND BALANCE, DECEMBER 31 22,405 $

(See independent auditor's report.)

REVENUES Taxes

WHEELING PARK DISTRICT

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL PAVING AND LIGHTING FUND

For the Year Ended December 31, 2023 Original and Final Original and Appropriation Final

FUND BALANCE, DECEMBER 31 18,767 $

PROPRIETARY FUND

WHEELING PARK DISTRICT

WHEELING, ILLINOIS

SCHEDULE OF OPERATING REVENUES - BUDGET AND ACTUAL

CHEVY CHASE COUNTRY CLUB FUND

For the Year Ended December 31, 2023

MISCELLANEOUS

WHEELING PARK DISTRICT

WHEELING, ILLINOIS (This schedule is continued on the following pages.)

SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL

CHEVY CHASE COUNTRY CLUB FUND

For the Year Ended December 31, 2023

WHEELING PARK DISTRICT

WHEELING, ILLINOIS

SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (Continued)

CHEVY CHASE COUNTRY CLUB FUND

For the Year Ended December 31, 2023

SUPPLIES AND COMMODITIES (Continued)

WHEELING PARK DISTRICT

CHEVY CHASE COUNTRY CLUB FUND WHEELING, ILLINOIS

SCHEDULE OF OPERATING EXPENSES - BUDGET AND ACTUAL (Continued)

For the Year Ended December 31, 2023

(Continued)

WHEELING PARK DISTRICT WHEELING, ILLINOIS

SCHEDULE OF CAPITAL ASSETS AND DEPRECIATION

CHEVY CHASE COUNTRY CLUB FUND

For the Year Ended December 31, 2023

(See independent auditor's report.)

SUPPLEMENTAL DATA

Date of Issue

WHEELING PARK DISTRICT WHEELING, ILLINOIS

LONG-TERM DEBT REQUIREMENTS

GENERAL OBLIGATION PARK BONDS

(ALTERNATE REVENUE SOURCE), SERIES 2014A December 31, 2023

October 28, 2014

Date of Maturity November 1, 2024

Authorized Issue

$3,380,000

Interest Rate 3.00%

Interest Dates May 1 and November 1

Principal Maturity Date November 1

Payable at Amalgamated Bank of Chicago Chicago, IL

CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS

(See independent auditor's report.)

Date of Issue

WHEELING PARK DISTRICT WHEELING, ILLINOIS

LONG-TERM DEBT REQUIREMENTS

GENERAL OBLIGATION PARK BONDS (ALTERNATE REVENUE SOURCE), SERIES 2018A

December 31, 2023

October 23, 2018

Date of Maturity November 1, 2033

Authorized Issue

$3,375,000 Interest Rate 3.10% to 5.00%

Interest Dates May 1 and November 1

Principal Maturity Date November 1

Payable at Amalgamated Bank of Chicago Chicago, IL

CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS

(See independent auditor's report.)

Date of Issue

WHEELING PARK DISTRICT WHEELING, ILLINOIS

LONG-TERM DEBT REQUIREMENTS

GENERAL OBLIGATION REFUNDING PARK BONDS (ALTERNATE REVENUE SOURCE), SERIES 2020

September 8, 2020

Date of Maturity November 1, 2030

Authorized Issue

$5,205,000

Interest Rates 3.00% to 4.00%

Interest Dates May 1 and November 1

Principal Maturity Date November 1

Payable at Amalgamated Bank of Chicago Chicago, IL

December 31, 2023 (See independent auditor's report.)

WHEELING PARK DISTRICT WHEELING, ILLINOIS

LONG-TERM DEBT REQUIREMENTS

GENERAL OBLIGATION LIMITED TAX PARK BONDS, SERIES 2023

December 31, 2023

Date of Issue October 31, 2023

Date of Maturity November 1, 2024

Authorized Issue

$1,509,100

Interest Rate 4.80%

Interest Dates November 1

Principal Maturity Date November 1

Payable at Northbrook Bank & Trust

CURRENT AND FUTURE PRINCIPAL AND INTEREST REQUIREMENTS

Levy

Requirements

(See independent auditor's report.)

2023 STATISTICAL section

STATISTICAL SECTION

This part of the Wheeling Park District’s annual comprehensive financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures and required supplementary information displays about the District’s overall financial health.

Contents

Financial Trends

These schedules contain trend information to help the reader understand how the District’s financial performance and well-being have changed over time.

Revenue Capacity

These schedules contain information to help the reader assess the District’s most significant local revenue source, the property tax.

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.

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. 109-110

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. 111-113

Sources: Unless otherwise noted, the information in these schedules is derived from the annual comprehensive financial reports for the relevant years.

Data Source

Audited Financial Statements

WHEELING PARK DISTRICT WHEELING, ILLINOIS

NET POSITION BY COMPONENT

Last Ten Fiscal Years

WHEELING PARK DISTRICT WHEELING, ILLINOIS

CHANGE IN NET POSITION

Last Ten Fiscal Years

REVENUES AND OTHER CHANGES

WHEELING PARK DISTRICT WHEELING, ILLINOIS

CHANGE IN NET POSITION (Continued)

Last Ten Fiscal Years

Note: The District received $16,476,847 in donated capital assets during the year ended December 31, 2014 reported as capital grants and contributions.

*Replacement taxes were included with intergovernmental revenue beginning in fiscal year 2016.

Data Source

Audited Financial Statements

WHEELING PARK DISTRICT WHEELING, ILLINOIS

FUND BALANCES OF GOVERNMENTAL FUNDS

Last Ten Fiscal Years

ALL OTHER GOVERNMENTAL FUNDS

Data Source

Audited Financial Statements

WHEELING PARK DISTRICT

CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS

Last Ten Fiscal Years

Data Source

Audited Financial Statements

(2,859,392) (2,328,150) (2,254,425) (3,994,806) (3,621,345) (4,244,819)

WHEELING PARK DISTRICT WHEELING, ILLINOIS ASSESSED VALUE AND ACTUAL VALUE OF TAXABLE PROPERTY

Note: Property in the District is reassessed every three years. Property is assessed at 33% of actual value. Total direct tax rate is the Cook County rate.

Data Source Office of the County Clerk

*Most recent data available.

WHEELING PARK DISTRICT WHEELING, ILLINOIS

PROPERTY TAX RATES - DIRECT AND OVERLAPPING GOVERNMENTS (Per $100 of assessed value)

Last Ten Levy Years

PRINCIPAL PROPERTY TAXPAYERS

and Nine Years

Note: Every effort has been made to seek out and report the largest taxpayers. However, many of the taxpayers hold multiple parcels and it is possible that some parcels and their valuations have been overlooked.

N/A - Not available

Data Source

Office of the County Clerk

WHEELING PARK DISTRICT

WHEELING, ILLINOIS

PROPERTY TAX LEVIES AND COLLECTIONS

Last Ten Levy Years

Collected within the Fiscal Year of the Levy

WHEELING PARK DISTRICT

WHEELING, ILLINOIS

RATIOS OF OUTSTANDING DEBT BY TYPE

Business-Type Activities

*See the Schedule of Demographic and Economic Information on page 109 for personal income and population data.

Note: Details of the District's outstanding debt can be found in the notes to financial statements.

Personal income is the largest sole source income type, usually either property or sales tax. In the case of special districts, it may be fees.

WHEELING

WHEELING, ILLINOIS

See the Schedule of Assessed Value and Actual Value of Taxable Property on page 99 for property value data.

Note: Details of the District's outstanding debt can be found in the notes to financial statements.

December 31, 2023

(1) Includes General Obligation Bonds of the District.

Note: Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the District. This schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses of the District. This process recognizes that, when considering the government's ability to issue and repay long-term debt, the entire debt burden borne by the residents and businesses should be taken into account. However, this does not imply that every taxpayer is a resident and, therefore, responsible for repaying the debt, of each overlapping government.

The percentage of overlapping debt applicable is estimated using taxable assessed property values. Applicable percentages were estimated by determining the portion of the District's taxable assessed value that is within the government's boundaries and dividing it by the District's total taxable assessed value.

Data Source

Cook County Clerk's Office, Lake County Clerk's Office or Local Government Entity Governmental Unit

WHEELING, ILLINOIS

WHEELING PARK DISTRICT

WHEELING, ILLINOIS

DEMOGRAPHIC AND ECONOMIC INFORMATION

Last Ten Fiscal Years

Data Sources

U.S. Census Bureau, Illinois Department of Employment Security For 2016-2022, private consultant For 2022 Per Capita, Village of Wheeling

Data Source

WHEELING PARK DISTRICT WHEELING, ILLINOIS

FULL-TIME

EQUIVALENT EMPLOYEES

Last Ten Fiscal Years

District finance office

WHEELING PARK DISTRICT

WHEELING, ILLINOIS

OPERATING INDICATORS

Last Ten Fiscal Years

AND RECREATION

CHEVY CHASE COUNTY CLUB

Data Source

Various District departments

* Effective 2022, there was a change in methodology for calculating Program Participants

WHEELING PARK DISTRICT

WHEELING, ILLINOIS

CAPITAL ASSET STATISTICS

Last Ten Fiscal Years

Wheeling Park District

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