I am pleased to share with you the 2024 Annual Financial Report for the Elk Grove Park District. This report reflects our ongoing commitment to fiscal responsibility, transparency and delivering high-quality recreational services and green spaces for our community.
Throughout the past year, the Elk Grove Park District has continued to invest in parks, facilities and programming that enhance the quality of life for all residents. Whether through maintaining our parks and facilities, offering recreational programs, or improving infrastructure, we remain focused on meeting the evolving needs of the community in a sustainable and financially responsible manner. This financial report outlines how public funds have been managed and allocated over the past year. It includes key financial data and insights into how we continue to deliver services efficiently while planning for the future.
We are grateful for the support of our residents, board members, and dedicated staff who make our work possible. Together, we are building a stronger, healthier, and more connected community through parks and recreation.
Sincerely,
Ben Curcio Executive Director Elk Grove Park District
BOARD OF COMMISSIONERS
The Board of Commissioners is composed of five elected members who each serve a six-year term. The role of the board is to lead the District toward the desired performance and assure that it occurs. Commissioners are non-partisan volunteers and serve as a link between the District and the residents of Elk Grove Park District. The Board of Commissioners encourage feedback and communication on performance.
The Park District Board meets on the 2nd and 4th Thursday of the month with some exceptions. Park Board meetings begin at 7pm and are held in the Board Room located in the Administration Building of the Elk Grove Park District at 499 Biesterfield Road, Elk Grove Village, Illinois, unless otherwise noted. To view the full schedule, agendas and minutes visit elkgroveparks.org/board-of-commissioners/board-meetings/ More ways to view Comcast Channel 6, AT&T Channel 99, Elk Grove Park District Facebook page and Live Stream at EGTV.viebit.com
WHAT IS A PAFR?
A Popular Annual Financial Report (PAFR) is a report designed to provide a summary of the financial activities of an organization in a way that is easy to read and understand for community members. It aims to offer insight into the organization’s finances, projects and activities. A Popular Annual Financial Report (PAFR) serves as a valuable tool for community engagement by presenting a simplified and easily understandable summary of an organization’s financial activities. The information and statistics are derived from the Annual Comprehensive Financial Report (ACFR). The 2024 ACFR highlights the Elk Grove Park District’s accomplishments and showcases how it leads as a premier parks and recreation destination in Illinois. Through diligent financial management and strategic planning, the District exemplifies its dedication to excellent service and industry leadership.
Financial information in this report can be found in greater detail in the Annual Comprehensive Financial Report located on our website at elkgroveparks.org/about-us/financials/
John Walz Bob Biedke
Tom Cooke Bill O’Malley Scott Carlson
By the Numbers
AWARDS
The Elk Grove Park District continues to uphold a Moody AAA rating — the highest credit quality and the lowest risk for a bond. This distinction places the District among a select group of park districts in Illinois that have earned and maintained this exceptional status.
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Excellence in Financial Reporting to the Elk Grove Park District for its Annual Comprehensive Financial Report for the fiscal year ending December 31, 2023 for the 23rd consecutive year.
$
3,000,000
GENERATED IN FOX RUN GOLF LINKS REVENUE
SHEILA RAY ADULT CENTER MEMBERS
POPULATION*
ESTABLISHED BY A REFERENDUM
RAINBOW FALLS WATERPARK ADMISSIONS
YOUTH ATHLETIC LEAGUE REGISTRATIONS
SEASONAL EMPLOYEES
OF EMPLOYEES LIVE IN ELK GROVE VILLAGE
FOX RUN GOLF LINKS
DANCE REGISTRATIONS
PIRATES’ COVE VISITS
FULL-TIME EMPLOYEES SPECIAL EVENTS
AQUATIC PROGRAM VISITS
PROGRAM SECTIONS OFFERED
PAVILION AQUATICS MEMBERS
*United States Census Bureau Data 2023
FOX RUN LINKS TOURNAMENTS
ACRES BEFORE AND AFTER CARE PARTICIPANTS SWIM LESSON PARTICIPANTS
TOTAL PROGRAM PARTICIPANTS
PART-TIME EMPLOYEES
PAVILION FITNESS CENTER VISITS
ROUNDS OF OUTDOOR GOLF
TOTAL CAMP PARTICIPANTS
PROPERTY COVERAGE
Capital Projects
The District has been issuing $2,500,000 annually in short-term general obligation bonds to fund its annual capital projects. In addition, money from the Special Recreation, Paving and Lighting and reserves from the Corporate, Recreation and Golf funds assist capital project funding.
In 2024, the District spent $6,785,844 on capital projects including the completion of the Marshall Park redevelopment. More details on capital projects can be found on our website, elkgroveparks.org/ projects-planning/capital-projects, including a full list of 2024 projects in our annual budget.
FACILITY UPGRADES
Fitness Center
Rebranding
Painting
Functional Training Space
New Equipment
Rainbow Falls Waterpark
Painting the Pool Shell
Patio Furniture Replacement
Concession Area Upgrades
Infrastructure Improvements
Pavilion Aquatics Center
Replacement of the Heat Exchanger Pumps
Outdoor Lighting
Pool Deck Furniture
PARK IMPROVEMENTS
Newberry, Windemere and Clark Parks
Playground Replacements
Mead Park
Scoreboard Upgrades
Removable Home Run Fencing
Heffern, Clark and Osborn Parks
Dugout Covers installed to provide shade for the players
NEW Marshall Park
Full Size Soccer Field with Lights and Irrigation
2,750 sq. foot Splash Pad with 12 Play Features
Picnic Shelter with 4 Restrooms & 6 Picnic Tables
Basketball Court
Three Workout Stations with Multi-purpose Exercise Equipment
⅓ Mile Walking Path
15,000 sq. foot Playground with Custom 50 foot Dragonfish Net Climber Coming Soon! 6 Lighted Pickleball Courts
Marshall Park
Clark Park
Mead Park
Windemere Park
Pavilion Fitness and Aquatics Centers
Your Tax Bill
Property taxes are utilized by multiple units of local government for revenue. The Elk Grove Park District is one of approximately 10 units of local government that comprise the typical resident’s overall property tax bill. Elk Grove Park District is committed to providing high-quality programs, services and facilities to its citizens, while being conscious of the District’s impact on property taxes. Depending on where you live in the District, for a $300,000 homeowner, taxes paid for 2023 (collected in 2024) were about $515. This equates to about 7 - 8% of a resident’s total 2023 tax bill being attributed to the Elk Grove Park District.
52.0% Taxes
Revenue
$13,889,200
37.1% Charges for Services $9,895,368
5.1% Interest
$1,351,382
3.3% Intergovernmental $876,709
2.5% Miscellaneous $676,067
0.1% Grants & Donations $15,355 Total Revenue $26,704,081
The District has two main sources of revenue – property taxes and fees charged for services. Property tax revenue makes up the largest portion of the District’s revenue, and in 2024 represented 52% of total operating revenue, compared to 53.1% in 2023.
Elk Grove Park District’s total revenue for 2024 totaled $26.7 million compared to $27.1 million in 2023 and $23.9 million in 2022. The decrease in 2024 was a result of lower corporate personal property tax received and lower grant and donation revenue due to a significant $400,000 grant from the Illinois Department of Natural Resources in 2023 for the Marshall Park redevelopment project, but partially offset by increases in fee revenue for services provided and interest income. High attendance due to fantastic summer weather at District facilities contributed to fees and admissions.
The District accounts for all revenues summarized by the source. Following are the sources and totals for all funds for 2022 - 2024.
OTHER FINANCING SOURCES
The District has been issuing $2,500,000 annually in short-term general obligation bonds to fund its annual capital projects. In 2024, the District issued $2,500,000 in bonds with a ten month maturity. Since 2012, the District has reduced the repayment schedule to pay less interest expense, which ultimately increases the amount of funding available for future projects.
In 2024, the District received corporate personal property tax in excess of historical amounts and used the excess amount toward capital expenditures.
Expenditures
0.6%
In 2024, the District received corporate personal property tax in excess of historical amounts and used the excess amount toward capital expenditures.
Total governmental fund expenditures for 2024 totaled $27.04 million, compared to $24.28 million in 2023 and $20.61 million in 2022. The most significant cause of the increases in expenditures was due to increased capital expenditures in 2023 and 2024. Along with increased capital expenditures, operating expenses increased as well, mainly due to increased minimum wage and inflation in supplies and utilities.
In 2024, only 14.4% percent of governmental fund expenditures are categorized as administrative, resulting in 85.6% of expenditures being invested directly back into the community for programs, facilities, park maintenance and capital projects.
OVERALL DISTRICT FINANCIAL POSITION
The District accounts for all expenditures summarized by categories or functions. Following are the sources and totals for all funds for 2022 - 2024.
While the governmental fund financial statements provide information on the District’s current financial position, net position may serve over time as a useful indicator of a government’s financial position. Net position is total assets (what the District owns) minus total liabilities (what the District owes), plus and minus deferred outflows and inflows of resources (resources to be consumed or acquired in a future period). By far, the largest portion of the District’s net position, which is 77.4% or $80.2 million, reflects its investment in capital assets (for example, land, construction in progress, land improvements, buildings, machinery and equipment), less any related debt used to acquire those assets that is still outstanding. The District uses these capital assets to provide services to residents. Because of sound financial decisions the District continues to be on strong financial ground and deliver the exceptional parks, facilities and programs the residents expect.
The following tables show that in the case of the District, assets/deferred outflows exceeded liabilities/deferred inflows by $103.6 million.
Stay Connected
Elk Grove Park District strives to provide strong communication with our residents and patrons. We utilize multiple platforms of communication including our website, social media, electronic newsletters, signage and various print publications.
WEBSITE
elkgroveparks.org
Find out about the seasonal offerings, memberships, parks and facility amenities and rentals, rules and regulations and additional financial reports available on the Park District website.
PARKS AND RECREATION GUIDE
We mail a Parks and Recreation Guide to each resident in Elk Grove Village four times a year showcasing seasonal activities. The Guide is also available for pick up at Park District facilities and the Library. A digital version is found on the website at elkgroveparks.org.
SENIOR NEWSLETTER “THE BUZZ”
A Senior Newsletter is published quarterly featuring programs, events and memberships for patrons age 55+yrs. The Buzz is available at the Library, Park District facilities and elkgroveparks.org.
RENTALS GUIDE
The Rentals Guide is published each year to highlight all of the available spaces for social or corporate events within the Elk Grove Park District. The publication features amenities, pricing and photos of the offerings.
WEEKLY ELECTRONIC NEWSLETTERS
The Friday Fun Five is available by subscribing at elkgroveparks.org. This weekly communication will keep you up to date on the top five things you should know about in regard to the happenings at the Elk Grove Park District.
SOCIAL MEDIA
Facebook.com/elkgroveparks.org Instagram
Acknowledgments
The development of the 2024 Popular Annual Financial Report was a collaboration between the Finance and Marketing Departments.
Brad Sholes Director of Business Services
Tiffany Greene Director of Leisure Services
Kelly Carbon Director of Marketing & Communications
Amy Mirocha Graphic Designer
Thank you for taking the time to review this document and learn more about the Elk Grove Park District.
