Financially Strong

The Park District works to continuously address the needs of the community and improve the quality of services, parks, and facilities without relying solely on taxes to support these efforts. The following charts measure the Park District’s efforts in maximizing alternative funding, efficiently aligning resources, and managing funds and debt in a sustainable manner.

FAQs

Program participants and staff

The Park District’s overall goal is to be above 50%, which has been achieved annually since 2020. The dip in 2020 can be explained by effects of the Covid-19 pandemic.

Growth in all programs along with grants and donations.

To be financially strong.

Fund Balances

Fund Balances are a ratio of total fund assets to total fund expenditures. The Government Finance Officers Association recommends 25% as a minimum fund balance target because it is a healthy balance between having enough cash in reserves to handle operations without putting an undue tax burden on the community. The Park District strives to keep fund balances between 25-30%, except for the Museum Fund, which is a hybrid fund that the Park District works to maintain at 75-80%.

*Data for this chart is updated annually in April from results from the Park District’s annual audit. Data from 2025 will be provided at that time.

FAQs

Staff and the Community

The fund balances of the Park District’s 10 funds continue to be strong. Many of the Park District funds are over the fund balance target and the district is increasing its transfers to the capital improvement plan accordingly to stay within policy.

Fund balance is measured as a percent of expenses. With a constant fund balance amount, if the expenses decrease the percentage will go up. During 2020-2022 the District cut expenses dramatically due to the impacts of the COVID-19 pandemic. Now that participation levels have stabilized, the District has resumed normal operations and fund balance transfers to reduce fund balance percentages as recommended in the District’s fund balance policy.

Optimize return on investment to be financially strong.

Volunteer Hours

Volunteer hours include the total number of volunteer hours reported by Park District supervisors at facilities, special events, citizen committees, and other efforts as well as the amount it would cost the Park District if those volunteers had to be replaced by staff working at minimum wage.

FAQs

Staff, Volunteers, and the Community

A large improvement in Conservatory, Pleasant Home and Youth Sports volunteer hours.

Align resources efficiently to be financially strong.

The number of volunteer hours worked at the Park District increased by about 18% from 2024-2025.

% of Oak Park Tax Bill

The Park District defines the measurement as the percent of property tax revenue collected in the current year by the Park District compared to overlapping jurisdictions such as county, village, township, library, school districts, community colleges, and other special districts.

FAQs

Community and staff

Since 2018 the District’s tax levy has remained consistently under 5% of the total tax burden in the community.

The District strives to optimize other revenue sources such as programming, grants, and donations in order to maintain its financial strength and infrastructure without an over reliance on the tax revenue.

Financial Strength.