PARK DISTRICT OF HIGHLAND PARK: 2019 Budget Approved
Park District of Highland Park issued the following announcement on Dec. 19.
The Park District of Highland Park Board of Commissioners adopted the 2019 budget of approximately $23.9 million at the December 13, 2018 meeting. The 2019 Budget reflects a continuation of the Park District’s commitment to maintaining quality parks and facilities, a refresh of the Park District’s GreenPrint 2024 comprehensive master plan, as well as the Park District’s fiscal philosophy of successfully striking a balance between providing good value and quality facilities, programs and activities for our residents, while maximizing revenue opportunities with staff’s continued commitment to reduce expenditures.
In preparation for the 2019 budget approval, the Park District reviewed the proposed budget at three public meetings including the Park Board Finance Committee meeting on October 26, 2018; the Park Board Workshop meeting on November 13, 2018; and a budget public hearing that proceeded the Board meeting on December 13, 2018. The 2019 Budget has been available for public review for the past 30 days at West Ridge Center, Recreation Center of Highland Park, the Highland Park Public Library and on the Park District website: pdhp.org. To view the adopted 2019 Budget, click here.
Highlights of the 2019 budget are:
- Operating surplus of $2.6 million
- After a successful August 2018 opening, Sunset Valley Golf Club will be operating for a full season, beginning in early 2019. Budgeted net revenue is estimated at $149,000.
- A total operational revenue of $23.9 million and an estimated expenditure of $28.5 million.
- A planned $4.65 million deficit utilizing reserves to support capital replacement projects including planning expenses for conversion of the 100-acre Highland Park Country Club property to a passive recreation area, renovation planning of the Centennial Ice Arena, and refresh of GreenPrint 2024.
The Park District continues to maintain Moody’s Investor’s Service Aaa bond rating, based on its healthy reserve levels, favorable debt profile, and conservative revenue assumptions. To view the 2019 budget, click here.
Original source can be found here.