DEBT FOR LONG-TERM CAPITAL PROJECTS The District takes a conservative approach, funding some of its large capital projects with debt to provide parks and facilities when they are needed and to take advantage of timely opportunities, such as land purchases, grants or partnerships. For more than 10 years, the District has maintained a Triple-A bond rating, allowing the District to sell its debt at the lowest rates available, saving significantly on interest payments. STATEMENT OF NET POSITION Another indicator of the District’s overall financial health is the Statement of Net Position, listed in detail in the Annual Comprehensive Financial Report. The net position is the difference between all of the District’s assets and all of the District’s liabilities. As of December 31, 2022, the Naperville Park District’s net position was $231,548,405, an increase of $2,218,036 from 2021. The increase in net position is mainly based on increased capital assets.
STATEMENT OF ACTIVITIES The Statement of Activities, also found in the Annual Comprehensive Financial Report (ACFR), gives an overview of the District’s revenue and expenses. The following charts show the District’s Statement of Activities over the past five years. In the Revenue chart, Charges for Services include recreation program fees and rentals; Taxes are property taxes, and Miscellaneous includes investment income and other sources of revenue. In the Expenditures chart, General Government expenses are related to administration, while Culture and Recreation spending is for recreation activities, park maintenance and other delivery of services.
NAPERVILLE PARK DISTRICT 2022 ANNUAL REPORT | napervilleparks.org 13
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