BUDGET PROCESS The basis for creating the budget includes organizational and departmental initiatives developed within the District’s 3-Year Strategic Plan and from initiatives developed within the District’s Master Plan. The capital budget plays an integral role in the budget planning process, as most capital projects add additional costs to the operating budget. The District prepares its budget on a monthly basis, and the benefits achieved from doing so are numerous. Budgeting monthly improves the ability of managers to monitor their financial performance throughout the year. From an administrative standpoint, the monthly budget format provides useful cash flow information that helps the District maximize its investment earnings. This year’s budget process began in July and extended into late October. This allows managers to review a full 8-9 months of financial information before finalizing year-end estimates and drafting next year’s budget submission. Having the chance to review more months of financial activity eases the estimation of year-end projections, while providing a more accurate budget submission. Budget directives for 2024 began with a continued emphasis on staffing and operating innovations that will enable the District to deliver its programs and services in line with the community’s expectations and needs. This continues to be important with the nationwide staffing challenges and inflationary pressures the District is facing. Departmental budget requests are based on specific needs, but ensuring flexibility within operations is just as important to address unforeseen challenges in an ever- changing environment.
Prior to the adoption of the Budget and Appropriation ordinance, the Park Board will meet to discuss the 2024 proposed budget. Additionally, the budget will be available for public inspection 30 days prior to approval. A copy of the 2024 proposed budget will be available at the Fort Hill Activity Center (20 Fort Hill Dr) and on the District’s website (www.napervilleparks.org) on November 3, 2023. The ordinance must be adopted before the end of the first quarter in 2024 and filed with DuPage and Will counties within 30 days of adoption. State law prohibits further appropriation at any time within the same fiscal year. The Park Board has the authority after the first six months of the fiscal year to make any transfers between various items in any fund in the appropriation ordinance with a two-thirds vote. Transfers cannot exceed 10% in the aggregate of the total appropriated for the fund or item that is having funds reallocated.
2024 BUDGET 11
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