Park board OKs 2013 budget
Updated: February 25, 2013 6:11AM
WILMETTE — Wilmette Park Board commissioners approved the district’s $30.5 million 2013 budget appropriation, as well as the $27.2 million actual budget, at their Jan. 14 meeting.
The budget is lower than the $27.9 million estimate commissioners saw last month, and the $30.5 million appropriation figure is smaller than the December estimate of $31.4 million. The appropriation sets the district’s legal spending limit, which is about 11 percent higher planned spending, in order to handle unexpected expenditures.
Spending includes $4.03 million in corporate spending; $10.6 million for recreation; $6.04 million for capital projects; $3.9 million in debt repayment; $526,001 for special recreation; $675,000 for social security, and $853,000 for retirement payments; $487,520 for liability insurance; $59,317 for security needs; and $23,180 for audit costs. Revenues are set at $23.7 million; $8.4 million in property taxes, $11.7 million in user fees, $1.5 million in rental fees and $1.4 in bond proceeds.
One person attended the budget hearing, and asked questions about the district’s pension funds. Board President Jim Brault and Commissioner John Olvany told him the district pension fund levels meet or exceed actuarial assumptions and state guidelines despite not being fully funded.
The board also notified residents Monday that it plans to issue up to $950,000 in limited tax general obligation bonds to help fund building projects. Its finance committee, will met Jan. 28 to review bond possibilities. The board won’t take action until its February meeting.~.