Two independent audits of the chicago Park District that were released last week reveal projected deficits in the district's bond and corporate funds.

Nora Moreno, the district's spokeswoman, said the audits found a $44 million shortfall in the district's bond-financed capital program. Moreno said that $60. million of general obligation bonds issued by the district in February was supposed to cover capital projects for fiscal 1993, which began Jan. 1, and fiscal 1994. However, auditors found another $44 million was needed to complete the scheduled projects.

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