Appendix H
3-Year Financial Plan
NAPERVILLE PARK DISTRICT LIABILITY FUND FORECAST 2019 ACTUAL 2020 ACTUAL 2021 ACTUAL 2022 BUDGET 2023 FORECAST 2024 FORECAST
Beginning Fund Balance
$ 458,895
$ 518,870
$ 436,547
$ 477,603
$ 368,058
$ 349,299
Taxes
706,730
559,282
649,250
530,000
675,000
750,000
Investment Income Alternative Revenue Miscellaneous Revenue Total Revenues Wages and Benefits
15,363 1,000
8,031
(209)
1,300
1,300
1,300
5,021
2,157
6,972
984
1,014
1,044
728,114
569,470
656,013
532,284
677,314
752,344
350,158
324,565
306,750
357,764
367,718
377,540
Supplies
8,354
9,616
3,833
3,510
3,500
3,500
Contractual Services Total Expenditures Surplus (Deficit) Ending Fund Balance Fund Balance Target
309,627 668,139
317,612 651,793 (82,323) $436,547 $325,897
304,374 614,957
280,555 641,829 (109,545) $368,058
324,855 696,073 (18,759) $349,299
349,955 730,995
59,975
41,056
21,349
$518,870
$477,603 $307,479
$370,648
$334,070
$320,915
$348,037
$365,498
Liability This fund is established to account for revenues that are from a specific property tax levy and expenditures for liability/property insurance for the District. The District has been a member of the Park District Risk Management Agency (PDRMA) since 1986. PDRMA has over 155 members who have formed an insurance pool in order to obtain better control of the insurance market and risk management. PDRMA provides comprehensive coverage to all members for property, boiler and machinery, crime and lost revenues; for general liability, auto liability, and public officials’ errors and omissions; workers compensation and employer’s liability, cyber coverage, as well as volunteer medical accident coverage. The fund balance target is 6 months of average operating expenses.
244 Naperville Park District | 2023 MASTER PLAN
3-YEAR FINANCIAL PLAN 2022-2024 16
NAPERVILLEPARKS.ORG
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