PROPERTY TAXES Property Tax Revenue accounts for 78% of the 2025 capital budget. In 1993, the District dedicated seven cents of the General Fund tax rate to help support the District’s future capital projects. One of the drivers of the initiative at that time was the impending state legislation that eventually limited the District’s annual non-referendum bonding authority to $608,000 in levy year 1994. The District gained additional relief in the 2003 tax year with the passing of P.A. 93-601, amending 30 ILCS 350/1 et seq. This legislation increased the District’s non- referendum bonding authority by $1.5 million to just over $2.2 million on an annual basis. In 2007, the District modified the capital project funding allocation from a straight seven-cent allocation to a percentage split of the General Fund tax rate based on the District’s ability to fully fund its operations. This includes funding the necessary transfer to the Recreation fund that partially funds park maintenance expenses. The District will continue to monitor the funding allocation method based on the ever-changing environment. INTEREST INCOME Interest Income accounts for 6% of total capital revenues and is expected to increase $59,100 or 10.4% compared to the 2024 budget and decrease $208,200 or 24.9% for year-end projections. The 2025 budget is based on an average rate of 3.5%.
ALTERNATIVE REVENUE Alternative Revenue includes grant income for two projects funded through the Department of Commerce and Economic Opportunity (DCEO). MISCELLANEOUS Miscellaneous Revenue accounts for 9% of the total capital budget at $917,300, which represents a reimbursement from the Western DuPage Special Recreation Association (WDSRA) for ADA- Other financing income accounts for less than 1% of the total capital budget and represents proceeds for the sale of assets that the District no longer has a need for. TRANSFERS related capital improvements. OTHER FINANCING SOURCES Transfers occur both in and out of the capital fund. Surplus funds from the General and Golf Funds are transferred to the Capital Fund annually at the end of the year. Cash-in-Lieu receipts are also transferred to the Capital Fund in years where qualifying projects are completed.
2025 CAPITAL BUDGET The 2025 Capital Budget is a work plan identifying projects to be implemented in 2025 based on the following: • Naperville Park District Mission, Vision, and Core Values • The Indoor Recreation Space Needs Assessment • Public Input (2022 Community Interest and Opinion Survey, Public Participation Process, etc.) • Naperville Park District Master Plan, Financial Plan, Recreation Programming Plan, and Strategic Plan • Capital Projects Prioritization Policy • Other related resources and commitments This plan may be modified throughout the year due to unforeseen conditions including the reallocation of resources as needed. The Capital Budget provides the basis for controlling expenditures for the acquisition of significant Park District assets and construction/ renovation of facilities relating to parks and recreation. While Capital appropriations lapse at the end of the fiscal year, they are re-budgeted until projects are complete. As capital projects are implemented, the operations of facilities are funded via the Operating Budget. The Operating Budget authorizes and provides the basis for controlling expenditures for all services, including the costs associated with operating and maintaining facilities. Operating Budget appropriations lapse at the end of the fiscal year. The Naperville Park District Board of Commissioners approves the budget on an annual basis at a public meeting. All community members are welcome to attend.
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