PROPERTY TAX REVENUE Property tax revenue accounts for 24% of the total revenue in the 2024 Recreation Fund budget. Tax revenue is budgeted to increase compared to the 2023 budget by $805,000 or 25.2%. The increase in the property tax allocation is offset by a corresponding decrease in the transfer in of property tax from the General Fund. Taxes allocated to this fund are primarily used to support park maintenance operations. REPLACEMENT TAXES Replacement taxes are an additional income tax for corporations calculated at a rate of 2.5% of net taxable income. Replacement taxes are allocated between the General and Recreation Funds. The 2024 budget allocation is consistent with the 2023 budget and projections. INTEREST INCOME Interest Income is budgeted to increase $87,200 or 84% compared to the 2023 budget and $5,900 or 3.2% based on 2023 projections. The 2024 budget is based on an average rate of 4.0%. CHARGES FOR SERVICES Charges for Services represent 60% of the total revenue for the Recreation Fund. It is comprised of recreation program income, memberships and daily admissions for Centennial Beach, fitness memberships for the Fort Hill Activity Center, and the Carillon Visitor Center. The increase of approximately $1.6 million or 18.4% compared to the 2023 budget is based on an increase of participation in recreation programs and memberships at the Fort Hill Activity Center. Compared to 2023 projections, an increase of $316,000 or 3.2% is expected. A detailed analysis of these revenue sources is provided in a later section of this document.
SALES Sales includes income from merchandise, concessions, brochure advertising and event ticket sales. Sales account for 3% of total recreation revenue and are budgeted to increase $48,200 or 10.9% compared to the 2023 budget and a slight decrease compared to 2023 projections. RENTAL INCOME Rental Income accounts for 4% of total recreation revenue. Rental Income in the Recreation Fund primarily represents athletic field and facility rentals. Also reflected in Rental Income is the District’s garden plots rental program and rental fees from the show wagon. ALTERNATIVE REVENUE Alternative Revenue primarily represents sponsorship revenue for the District. Sponsorship revenue is typically comprised of funding from partnership agreements that help support District programs and events in addition to the athletic field banner advertising program. Not all sponsorship agreements are reflected in this revenue line item. Some sponsors provide valuable in-kind services that help to reduce program costs in exchange for advertising at events. All sponsorships are developed in close collaboration with partners to fulfill their objectives, uphold our mission, and promote a healthy and active lifestyle for the community we serve.
MISCELLANEOUS INCOME Miscellaneous Income accounts for 6% of the total revenue and is budgeted to remain fairly consistent with the 2023 budget. Reimbursement income is included within this category and includes amounts owed from athletic organizations for electricity associated with field usage. In addition, the District is reimbursed for labor and supplies from the Jaycees (Last Fling). Finally, reimbursements from the City of Naperville for the maintenance costs for the Riverwalk and the Carillon are accounted for in this line item. Miscellaneous revenue also includes cell tower income, soft-drink vending commissions and insurance reimbursement from employees. TRANSFER FROM THE GENERAL FUND The Recreation Fund is managed to break-even at the end of the year through a transfer from the General Fund. The actual transfer amount is determined at the end of the year when financial results are complete.
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