REPLACEMENT TAXES The State of Illinois estimates that the Park District will receive approximately $344,000 in replacement tax revenue in 2025, a decline of $76k compared to the projected amount in 2024. The Corporate Replacement Tax has served as a stable source of revenue for the Park District since 1979. Enacted by the State of Illinois as a replacement for the personal property tax, the tax is distributed to local governments as a share of the Corporate Income Tax. The taxes replace money that was lost by local governments when their powers to impose personal property taxes on some corporations, partnerships, and other business entities were taken away. INTEREST INCOME Based on the current interest rate environment, interest income is expected to decrease by $484,800 or 25% compared to amounts projected in 2024 and increase on a budgetary basis. The 2025 budget is based on an average overall rate of 3.5%.
CHARGES FOR SERVICES Charges for Services account for the second largest revenue source for the District’s budget at 29% or $14.8 million. The $992,400 or 7% increase compared to the 2024 budget is mainly based on increased participation in recreation programs and fitness memberships. A slight increase of $34,100 is anticipated compared to 2024 projections. After several years of significant growth, the District is seeing participation numbers leveling off as expected. Participation numbers and memberships have exceeded pre-pandemic levels and challenges still remain with waitlists and indoor space needs. In order to maintain the high quality of program offerings and to address rising costs, targeted fee increases for specific programs such as Day Camps are planned for 2025. For golf operations, another year of favorable rounds are anticipated with both Naperbrook and Springbrook Golf Courses open for play the entire year.
SALES The Sales category accounts for 3% or $1.7 million of the total revenue. Sales revenue primarily consists of revenue generated from concessions, merchandise, brochure advertising, and golf memberships. RENTAL INCOME Rental Income accounts for 2% or $873,500 of total revenue. Rental Income primarily consists of facility and athletic field rentals, and tournament income. ALTERNATIVE REVENUE Alternative revenue is primarily represented by grants, sponsorship income, donations, and Cash- In-Lieu receipts. As a result, this revenue category can fluctuate based on one-time receipts. In 2024, the District received several grants and donations. MISCELLANEOUS Miscellaneous revenue accounts for 5% or $2.4 million of total revenue. Miscellaneous revenue consists of various reimbursement accounts owed to the District (i.e., athletic organizations, WDSRA, City) through cell tower revenue, parking permits, ticket revenue, and employee insurance contributions. OTHER FINANCING SOURCES Other Financing Sources consists of the sale of vehicles and equipment.
2025 BUDGET 21
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