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wilmettebeacondaily.com NEWS
the wilmette beacon | January 23, 2020 | 3
Wilmette Park Board
Posted to WilmetteBeaconDaily.com 9 days ago
2020 approved budget
includes $1M surplus
Todd Marver
Freelance Reporter
At the Wilmette Park
Board’s first meeting of the
new year on Monday, Jan.
13, the board approved the
2020 budget and appropriations
ordinance.
The fiscal year 2020
budget totals approximately
$27.5 million in
total operating revenue
and other proceeds, while
operating expenditures
and other expenses are approximately
$26.5 million.
A surplus from operations
of $7.9 million is budgeted
and will be offset by capital
expenditures of $3.9
million and debt service
of $3 million, resulting in
a bottom line surplus of
$1 million. The total appropriated
funds for fiscal
year 2020 is $29.599 million.
Executive Director
Steve Wilson explained
the difference between the
budget and appropriations.
“We set a budget, which
is the internal staff guidelines
of what we’re trying
to generate in revenue and
where we want to target
our spending,” he said.
“The appropriations ordinance
is what sets our actual
legal spending limit.
The appropriations is similar
to budget, but usually
gives a little more wiggle
room because sometimes
things happen throughout
the year.”
The $27.5 million in revenues
includes $8.457 million
in general real estate
tax revenues, $150,000
in personal property replacement
tax revenue,
$15.9 million in program
user fees revenue, $2.277
million in rental revenue,
$230,216 in retail sales,
$130,000 in interest revenue
and $345,333 in miscellaneous
revenue.
The $26.5 million in
expenses includes $4.358
million from the corporate
fund, $12.653 million
from the recreation fund,
$393,186 from the liability
insurance fund, $775,953
from the social security
fund, $830,000 from the
IMRF fund, $27,180 from
the audit fund, $54,260
from the security fund,
$790,470 from the special
recreation fund, $3.7
million from the capital
projects fund and $2.953
million from the bond and
interest fund.
The $29.599 million
in appropriated funds includes
$4.794 million
from the corporate fund,
$13.9 million from the
recreation fund, $432,505
from the liability insurance
fund, $835,548 from
the social security fund,
$913,000 from the IMRF
fund, $29,898 from the audit
fund, $59,686 from the
security fund, $869,517
from the special recreation
fund, $4.478 million in the
capital projects fund and
$3.2 million in the bond
and interest fund. The cash
on hand and short term investments
at the beginning
of the fiscal year totals
$5.8 million and the estimated
cash and short term
investments expected to be
on hand at the end of the
fiscal year totals $6.8 million.
“We are very comfortable
and confident of moving
forward with this budget,”
board president Amy
Wolfe said.
The adoption of the
ordinance culminated a
months-long process. The
board had a committee of
the whole meeting on Nov.
13 for a review of capital
projects. On Dec. 4, there
was another committee of
the whole meeting for the
fiscal year 2020 budget
workshop. The ordinance
has been available to the
public at the district’s administrative
office since
early December. Prior to
adoption of the ordinance,
the board conducted a public
hearing as required by
law, though no one from
the public spoke.
“This is something that
we do every year,” Wolfe
said. “We go through our
budget that we think we’re
going to be spending. We
look at all of our capital
expenditures for the year
and create a budget, which
has been out in the public
now for several months
and we’ve had many discussions
and meetings on
it.”
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