FINANCIAL REPORT
Our Fiscal Year: May 1- April 30, 2020 At the Park District of La Grange, our mission is to provide quality recreation programs, facilities, and parks that enhance the health, happiness, and quality of life of Park District residents and program participants. We appreciate your support and invite you to visit your local parks and facilities. The Park District has several different revenue sources from taxes and fees to grants and bonds. Recreation user fees include program activity fees, fitness center memberships and rental fees for the use of the Park District facilities. This year the Park District was closed for one and a half months at year end due to the Covid 19 pandemic. This shut down caused about a 10% reduction in recreation user fees for the year ended April 30, 2020. Combined Statement of Revenues, Expenditures, and Changes in Fund Balance For the Fiscal Year Ended April 30, 2020 Revenues Taxes Recreation User Fees Interest Miscellaneous
$
Expenditures General Government Program Expenses Capital Outlay Debt Service Deficiency of Revenue under Expenditures
53.9% 43.2% 2.1% 0.8% 100.0%
981,669 3,225,475 873,609 1,131,645 6,212,398
17.6% 57.8% 15.6% 20.3% 111.3%
(628,478)
Other Financing Sources Debt Issuance Disposal of Capital Assets
Net Change in Fund Balance
3,008,566 2,410,485 117,668 47,201 5,583,920
-11.3%
338,800 10,500 349,300 $
(279,178)
During this past fiscal year, expenditures exceeded revenue and other financing sources by $279,178 for the District as a whole. In the General and Special Revenue Funds, revenues exceeded expenditures for the year by $391,218, allowing the District to transfer $309,700 to the Capital Projects Fund. Above average spending on capital projects created the deficit for this fiscal year. However, many of these projects were deemed necessary and had been delayed due to lack of funding. Even though the combined net change in fund balances was a decrease, the District still retained sufficient fund balances to fulfill its mission to provide quality recreation programs, facilities, and parks.
Winter 2021
www.pdlg.org
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