Financial Documents & Reports

Budget

The budget is the culmination of work and decision-making by the Board of Commissioners and staff, which included two formal Board Budget Workshops and several updates. At the workshops, the Board reviewed and approved a full range of policy statements and financial assumptions that would guide staff in preparing the budget. The budget achieves those statements and assumptions and serves as the District’s comprehensive financial and revenue plan.

Taken as a whole, the Waukegan Park District’s financial position is solid. For several consecutive years, the Waukegan Park District has been awarded the Distinguished Budget Presentation Award by the Government Finance Officers Association of the United States & Canada, reflecting our commitment to meeting the highest principles of governmental budgeting and financial transparency.


Accounting Reports

Current Year (2023)

Archives (2022)

Annual Comprehensive Financial Report

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 Annual Comprehensive Financial Report is published to fulfill that requirement for the fiscal year ended April 30, 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 established for this purpose. Because the cost of internal controls should not exceed anticipated benefits, the objective is to provide reasonable, rather than an absolute, assurance that the financial statements are free of any material misstatements.

Lauterbach & Amen, LLP, Certified Public Accountants, have issued an unmodified opinion on the Waukegan Park District’s financial statements for the year ended April 30, 2023. The independent auditors’ report is located at the front of the financial section of this report.

Management’s Discussion and Analysis (MD&A) immediately follows the independent auditors’ 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.

Popular Annual Financial Report

The Popular Annual Financial Report (PAFR) covers the Waukegan Park District’s Fiscal Year May 1, 2021-April 30, 2022. The Waukegan Park District remains financially strong as evidenced by the financial data contained in this report.

The data was obtained from the 2021-2022 Annual Comprehensive Financial Report (ACFR). The complete ACFR is available on our website or copies may be obtained from the Administrative Center. Questions or feedback about the information may be directed to Executive Director Jay Lerner at jlerner@waukeganparks.org or Director of Finance & Operations Jon Beckmann at jbeckmann@waukeganparks.org.

The report also highlights activities between May 1, 2021 and April 30, 2022 and summarizes the District’s ongoing stewardship and value to the community. The remainder of the report details notable accomplishments made during the 2021-2022 Fiscal Year.

Treasurer’s Annual Report

The annual Treasurer’s Report is a statement of the Waukegan Park District’s monies received from sources, giving items particulars and details, and of all monies paid out, giving the name of each individual whom paid, on what account paid and the amount of each disbursement and such statement is for the fiscal year.