REVENUES Revenues within the General Fund operating budget are derived from the following sources: GENERAL-OPERATING REVENUE Budget 2024 Projections 2024 Budget 2025
2025 vs. Proj Variance
Budget Variance
Tax Revenue
$7,111,705
90% $7,173,400
89% $7,869,177
92% $695,777
9.70% $757,472 -18.01% (100,100)
10.65% -22.54%
Replacement Tax Interest Income
444,100 6% 166,300 2% 9,000 0% 8,000 0%
419,554 227,000 13,020 8,000 199,703
5% 3% 0% 0% 2%
344,000 170,000
4% 2% 0% 0% 2%
(75,554) (57,000) (2,020)
-25.11% -15.51% 0.00%
3,700 2,000
2.22%
Rental Income
11,000 8,000 171,731
22.22% 0.00%
Alternative Revenue
0
0
Miscellaneous Total Revenue 6 rev gen op page 25
190,411
3%
(27,972)
-14.01% (18,680) 6.63% $644,392
-9.81% 8.13%
$7,929,516 100% $8,040,677
100% $8,573,908
99% $533,231
PROPERTY TAXES Property tax revenue accounts for 92% of the total revenue within the General Fund and is budgeted to increase 11% or $757,500 compared to the 2024 budget and 10% or $695,800 compared to year- end projections. The increase will be used to fund District operations. REPLACEMENT TAXES Replacement Taxes account for 4% or $344,000 of revenues. Replacement Taxes are an additional income tax for corporations calculated at a rate of 2.5% of net taxable income. The 2025 budget accounts for a $100,100 or 23% decrease compared to the 2024 budget and $75,600 or 18% decrease from 2024 projections. The decrease is based on estimates provided by the State of Illinois Department of Revenue.
INTEREST INCOME Interest Income accounts for about 2% of the operating revenue and is budgeted to decrease $57,000 or 25% compared to 2024 projections based on the current market environment. The 2025 budget is based on an overall rate of 3.5%. RENTAL INCOME Rental Income represents security income received from park/facility rentals requiring the presence of park police. Rental Income is expected to remain fairly consistent with the 2024 budget and year-end projections. ALTERNATIVE REVENUE Alternative Revenue is comprised of a grant for police body cameras which is consistent with the 2024 grant amount. MISCELLANEOUS INCOME Miscellaneous income includes various reimbursements to the District including parking ticket revenue and employee insurance reimbursements.
10 depart pro les page 57
GENERAL OPERATING REVENUE 92% Tax Revenue
4% Replacement Tax 2% Interest Income 2% Miscellaneous
2025 BUDGET 29
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