August 15, 2011
By Rhonda Reed-Slaughter
rhonda@thenumbercrunchers-bolingbrook.com
Bolingbrook Park District offers a variety of classes and activities to the community.
If you're an adult working out at Life Style Fitness Center, a child taking gymnastics or a family enjoying the aquatic center, the park district has something for every family member to enjoy.
Ever wonder how the park district's doing financially?
Well, we decided to review the district's financials and share our findings with the community.
For 2011, the park district is expected to generate $19.3 million in revenue. A 5% increase from last year. The majority of revenue coming from property taxes and charges for services.
In 2010, 58% of park district revenue came directly from property taxes ($10,607,333), and 40% from charges for services ($7,239,279).
CLICK TO VIEW REVENUE BREAKDOWN
PARK DISTRICT REVENUE ANALYSIS
As stated, this article will focus exclusively on revenue. Expenditures will be analyzed in a separate article, scheduled to be published next week.
The park district tracks its governmental and business-type activity in 13 separate funds.
Combined, the 2011 budget reflects an estimated surplus of $330k ($19.3 million in total revenue, $18.9 million in total expenditures).
Property taxes are used to fund 12 of the 13 Funds. The Golf Course Fund (a business-type fund) is the only fund that relies exclusively on charges for services.
CLICK TO VIEW A LIST OF ALL FUNDS
The Debt Service Fund ($4.2 million) is 23% of the total budget, and is completely funded with property taxes.
More than 60% of the park district's total revenue is tracked in 4 primary funds. See below.
- Recreation Fund (generates 30% of total revenue)
- General/Admin. Fund (24% of total revenue)
- Golf Course/Food/Beverage Fund (9% of total revenue)
- Museum Fund (2% of total revenue)
CLICK TO VIEW REVENUE DETAIL, PER FUND
RECREATION FUND - Detail
According to the 2010 financials, the Recreation Fund generated $5.36 million in revenue, which is 30% of the total revenue generated in 2010.
- $4.1 million in charges for services.
- $1.2 million in property taxes.
CLICK TO VIEW BREAKDOWN OF "CHARGES FOR SERVICES"
As you can see, the areas generating the most revenue in the recreation fund are aquatics, children and Life Style Fitness, which is close to 70% of the $4.1 million in charges for services.
According to the 2011 budget, the district is expecting to make more money (a revenue increase) in aquatics, and Life Style Fitness Center.
CLICK TO VIEW RECR. FUND'S TOTAL REVENUE ANALYSIS FOR 2009, 2010 and 2011
Stay tuned: Next week, we will report on Bolingbrook Park District's expenditures.
