MPEA is committed to operating in a fiscally responsible and transparent manner. Please find information below regarding our bond disclosures, operating budget, audited financial statements and annual reports.
Advice to Readers
This page and documents within contain information related to certain bonds issued by the Metropolitan Pier and Exposition Authority. Downloading any of these files indicates that the reader agrees with the terms mentioned in this disclaimer.
Metropolitan Pier and Exposition Authority (“MPEA” or the “Authority”) prepares its annual financial statements in accordance with Generally Accepted Accounting Principles (GAAP). The Authority’s basic financial statements are prepared using proprietary fund (enterprise fund) accounting. The Authority is operated under one enterprise fund. Under this method of accounting, an economic resources measurement and the accrual basis of accounting is used. Revenue is recorded when earned, and expenses are recorded when incurred. The basic financial statements include statements of net position; statements of revenue, expenses, and changes in net position; statements of cash flows; statements of fiduciary net position; and statements of changes in fiduciary net position. Notes to the basic financial statements are also included.
The Metropolitan Pier and Exposition Authority (“MPEA” or the “Authority”) is required by the MPEA Act to develop and adopt a 3-year Financial Plan. The Authority is required to adopt its financial plan at least 60 days prior to the beginning of each fiscal year. After adoption by the Authority, the Authority shall file each financial plan with the Governor of the State of Illinois, the Mayor of the City of Chicago, and the General Assembly of the State of Illinois not later than 10 days after its adoption. As required by the MPEA Act, revenue estimates included in the Financial Plan are reviewed by independent certified public accountants who are not currently performing any other work for the Authority.
The sections below provide information about the outstanding bonds issued by the Metropolitan Pier and Exposition Authority (“MPEA” or the “Authority”). Included are state bond disclosure filings, which are required to be provided to the State of Illinois Office of the Comptroller after new bonds are issued, official statements for the Authority’s outstanding Expansion Project Bonds, and the Audited Financial Statements and Annual Financial Information that MPEA is required to submit annually pursuant to the Continuing Disclosure Agreements entered into in connection with the issuance of the Authority’s outstanding Expansion Project Bonds.
By publicly posting the disclosure below, the Metropolitan Pier and Exposition Authority intends that market participants receive and use it for purposes of the independent registered municipal advisor exemption to the SEC Municipal Advisor Rule.