Appendix H
3-Year Financial Plan
NAPERVILLE PARK DISTRICT DEBT SERVICE FORECAST 2019 ACTUAL 2020 ACTUAL 2021 ACTUAL 2022 BUDGET 2023 FORECAST 2024 FORECAST
Beginning Fund Balance
$1,829,250
$1,806,581
$1,884,933
$2,388,640
$2,439,829
$2,439,829
Taxes
2,559,140
2,604,893
2,269,789
2,680,136
2,680,136
2,760,540
Investment Income
37,351
21,001
(534)
4,100
5,000
6,000
Other Financing Sources
6,041,520 8,667,414 2,949,222 2,949,222
-
Total Revenues
2,596,491 3,000,160 3,000,160
2,269,255 2,311,648 2,311,648
2,684,236 2,752,618 2,752,618
2,685,136 2,801,551 2,801,551
2,766,540 2,756,266 2,756,266
Debt Service
Total Expenditures Surplus (Deficit)
(403,669)
5,718,192
(42,393)
(68,382)
(116,415)
10,274
Other Financing Uses Transfer In from Capital Final Surplus/Deficit Ending Fund Balance
(5,950,000)
381,000
310,160
546,100
119,571
116,415
(22,669)
78,352
503,707
51,189
0
10,274
$1,806,581
$1,884,933
$2,388,640
$2,439,829
$2,439,829
$2,450,103
Debt Service This fund is established from a specific property tax levy and expenditures of these monies repay principal and interest on the District’s General Obligation debt. The District issues debt to provide funds for acquisition and construction of major capital projects. General Obligation bonds are issued for general government activities; these are direct obligations and pledge the full faith and credit of the District. In September 2020, the District was rated by Moody’s Investor Service. Moody’s renewed the Park District’s Aaa bond rating citing the organization’s sound financial operations and healthy reserve levels, the substantial tax base, and favorable debt and pension profile. The District received its first Aaa rating from Moody’s in January 2008.
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Naperville Park District | 2023 MASTER PLAN
3-YEAR FINANCIAL PLAN 2022-2024 19
NAPERVILLEPARKS.ORG
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