It is a priority of Gurnee Park District (GPD) to sustain long term financial strength. For the past 18 years, GPD has received a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR). The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management. Further, GPD also receives the GFOA's Distinguished Budget Presentation Award annually. In order to receive the award, GPD had to satisfy nationally recognized guidelines for effective budget presentation. These guidelines are designed to assess how well the budget serves as a policy document, financial plan, operations guideline and communications device.
GPD has managed a balanced budget for many years and continues that financial policy through all economic conditions. The Park District’s main revenue sources are fees and charges for services and property taxes. Just under 60% of the revenue collected by the Park District is through fees and charges for services and sources other than property taxes. This revenue diversity is very important to the continued financial strength of the Park District. GPD also relies on grants/intergovernmental agreements and developer impact fees to fund its capital growth. This past year, Gurnee Park District collected a total of $13.5M in revenue.
Additionally, the Park District spent $10.5M on operating expenditures with an additional $1.5M spent on capital projects and $2.3M on debt service during this past year. Gurnee Park District is committed to using our financial resources consistent with the Park District vision: As a nationwide leader in our field, be the premier provider of community driven and innovative park and recreation experiences while maintaining financial stability. The Park District is able to achieve our vision as well as continue the“standard of excellence” in our services while maintaining financial strength.
The following files showcases Gurnee Park District's comprehensive annual financial report. Please note: This file is large and may take a few minutes to download and open.
In compliance with Section 7.3 of the Open Meetings Act, effective January 1, 2012, employers participating in the Illinois Municipal Retirement Fund must post a physical copy of the compensation package that exceeds $75,000 per year. Click here for the posting.
The Park District’s Fiscal Year 2015-2016 Annual Budget won the Distinguished Budget Presentation Award. This was the 6th year the Park District received the Distinguished Budget Presentation Award. The Park District first applied for the award in 2010 with the Fiscal Year 2010 – 2011 Annual Budget. The GFOA established the Distinguished Budget Presentation Awards Program (Budget Awards Program) in 1984 to encourage and assist state and local governments to prepare budget documents of the very highest quality that reflect both the guidelines established by the National Advisory Council on State and Local Budgeting and the GFOA’s best practices on budgeting and then to recognize individual governments that succeed in achieving that goal. Documents submitted to the Budget Awards Program are reviewed by selected members of the GFOA professional staff and by outside reviewers with experience in public-sector budgeting.
Gurnee Park District is pleased to announce that it has received the Government Finance Officers Association of the United States and Canada’s (GFOA) Distinguished Budget Presentation Award for its current year budget for the sixth consecutive year in a row. The award represents a significant achievement by a government entity. It reflects commitment of the governing body and staff to meeting the highest principles of governmental budgeting. In order to receive the budget award, the entity had to satisfy nationally recognized guidelines for effective budget presentation. These guidelines are designed to assess how well an entity’s budget serves as a policy document, financial plan, operations guideline and communications device. Budget documents must be rated proficient in all four categories, and in the fourteen mandatory criteria within those categories to receive the award.