Finances – General Information

The District’s Financial Position is Solid

Taken as a whole, the District’s financial position is solid even though it is experiencing a severe decline in the Equalized Assessed Valuation (EAV).  This year the District saw an increase of 6.13% in EAV. The District maintains solid financial reserves and prudent financial management and planning

Contributing factors to our favorable financial position are:

• The commitment of the Board of Commissioners and Staff to evaluate, plan and implement programs, services and capital projects that meet the District’s Vision and Mission Statements is the primary reason for its financial position.
• User fees are an integral part of the District’s revenue stream. Various fees, primarily from the Recreation Fund, provide approximately 5.71% of the District’s revenue.
• The FY2022-23 Budget includes drawdowns of fund balances in all funds except for Paving & Lighting, Audit, FICA, Debt Service, Master Plan Capital Fund. These drawdowns are either planned or due to transfers or carryover projects.

The following reports are run and added to the website monthly.

2022 Accounting Reports

Archived Accounting Reports

Vendor Information Reporting

In 2021, the State of Illinois enacted Public Act 102-0265 – Property Tax – Vendor Report. This law requires that any taxing district with a property tax levy of more than $5,000,000 must make a good faith effort to collect and electronically publish data as to whether vendors and subcontractors doing business with the taxing district are minority, women, or veteran-owned businesses. The Waukegan Park District is included in this requirement.