FINANCE Profile
The Finance Department is comprised of 4 full-time positions including: a Finance Director, Accounting Manager, Accounts Payable Administrator and Payroll Administrator. The Finance Department is responsible for coordinating and directing the financial activities of the District including: maintaining the accounting system and the related financial controls, managing revenue collections, miscellaneous billings, accounts payable, payroll, budget creation and management, cash management, investing funds, financial reporting, debt management
and establishing and maintaining proper internal controls to safeguard District assets. In conjunction with the Human Resources Department, an evaluation of the District’s HR and payroll software will take place with implementation scheduled for late 2024. One of the main goals of the Department is to continue maintaining public confidence in the financial stability of the District. This is achieved through the maintaining of the District’s Aaa rating from Moody’s Investor Services and by
continuing to receive the annual Government Finance Officers Association Excellence in Financial Reporting Award. Providing accurate and timely financial reports and continuing to receive an unqualified audit opinion are also ongoing goals of the department. In September 2020, the District received a Aaa rating on its 2020 General Obligation refunding of bonds along with the entire outstanding General Obligation debt portfolio. The District has maintained a Aaa rating since 2008.
FINANCE
FINAL 2021 FINAL 2022 BUDGET 2023 PROJECTIONS 2023 BUDGET 2024 2024 VS. 2023 PROJ % 2024 VS. 2023 BUDGET %
REVENUE Miscellaneous Total Revenue
$22,976 $30,646
$25,068 25,068
$25,043 25,043
$24,272 24,272
($771)
-3% -3%
($796)
-3% -3%
22,976
30,646
(771)
(796)
EXPENSES Wages & Benefits
464,167
483,718
507,866
507,658
528,025
20,367 4% 725 56% 9,252 21% 1,200 0% 13,200 79% 44,744 8%
20,159 4% 725 56% 9,145 21% 1,200 0% 11,500 62% 42,729 7%
Supplies
1,329
619
1,300
1,300 44,413
2,025
Contractual Services
36,939
39,613
44,520
53,665
Capital Projects Miscellaneous
1,200
17,527
16,806
18,500 572,186
16,800 570,171
30,000 614,915
Total Expenditures Surplus/(Deficit)
519,962 540,756
($496,986)
($510,110)
($547,118)
($545,128)
($590,643)
($45,515)
8%
($43,525)
8%
2024 BUDGET 33
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