FINANCIAL PICTURE 2024
Overview The District’s highest priority is to provide the highest return on investment and social good for the residents of Western Springs. Its Net Position (defined as assets plus deferred outflows minus liabilities and deferred inflows) as of 2024 was $8.039M, up from the previous year reported $7.310M. Revenue & Financing How the District is Funded. Revenues for the 2024 from government funds were $2.119M compared to $1.351M in 2023. Cash on hand is $1.201M, up from the $1.043M in 2023.
2024 Revenues $2.120M
2024 Expenditures $2.023M
0.04
0.161
2023
2024
0.726
1.141
Total Revenues
1,351,345
2,119,726
0.843
Total Expenses
1,564,682
2,023,274
1.019
Other Financing Sources
-
64,382
0.094
Change
(231,337)
96,452
Begin
1,186,904
973,567
Capital
Operations Debt
Taxes User Fees Grants/Donations Other
End
973,567
1,134,401
Sources Taxes are the district’s largest revenue source, $1.141M or 53.85% of total revenues. Property taxes are levied annually by ordinance and adopted by the Board of Commissioners each December. Charges for services is typically the largest non-tax source depending on grants and donations year to year. Charges for services (user fees) represent 7.85% of total revenues which is down from 13.94% from the previous year. Grants The District participated in several grants and/or other compensation over the past 3 years ($3M). In 2024, grants and contributions total $726,333 and other compensation was $40,084.
4 YEAR TRENDS
4 Year Trend Revenues (M/$)
2.5
2
1.5
1
The District Extended Your Tax $ with Grants and Donations by More Than $3M
0.5
0
Expenditures - Your $ at Work. The majority of funds are expended in general administration, recreation facilities, programs, safety, security, maintenance, capital repair and replacement of depreciated capital items. In 2024 the District expended $1.385M compared to the prior year, $1.725M. Current long-term debt, $1.2M, financed the Spring Rock Park playground renovation completed in 2018 and other capital projects. Applications: • Recreation (Operations) - $1,019,223 includes administrative services & park operations. • Capital - $843,043 Maintaining high quality and safe infrastructure throughout all 13 parks. • Debt - $161,008 Principal and interest payments for long term financing.
2021
2022
2023
2024
Taxes Grants Fees
4 Year Trend Expenditures
2.5
2
1.5
1
0.5
•
0
2021
2022
2023
2024
Operations Capital
Debt
On February 14, 2019, Moody’s Investor Service upgraded the District’s tax rating to “Aa2” from “Aa3 ”
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