Financial Information

Striving to Maximize Taxpayer Value

The Glenview Park District is primarily funded through property taxes and user fees. Only about half of the District’s operating revenue is from property taxes.

The Glenview Park District enjoys a sound financial position:

  1. The Park District aggressively seeks alternative sources of revenue and has received more than $15 million in grants, donations, sponsorships and advertising revenue over the past 10 years.
  2. The Park District’s Aaa bond rating issued by Moody’s Investors Service was most recently re-confirmed in 2019.
  3. The Park District has a special reserve fund designated as the Capital Replacement Fund to systematically provide for current and future replacements of many of our assets. This long-range plan enables us to continue to maintain our parks and facilities at a level of quality that is expected by residents.
  4. The Park District has received the Government Finance Officers Association’s Certificate of Excellence in Financial Reporting each year since 2007 when the first application was submitted and will continue to seek this certification in future years.
  5. In 2020, the Park District issued Alternate Revenue Source bonds as part of the funding for the renovation of the Glenview Community Ice Center. The timing of this debt issuance resulted in a savings of $250,000 in interest expense. 
  6. In 2018, the Park District issued $17m in General Obligation Bonds related to the referendum. The District choose to retire the debt in 13 years instead of 20 years saving taxpayers approximately $3 million over the life of the debt.*
  7. In 2019, the Park District joined the Intergovernmental Personnel Benefit Cooperative resulting in an estimated savings of $1 million from 2020 to 2025.
  8. In 2012, the Park District refinanced a portion of its outstanding debt which will result in a savings of nearly $2 million dollars over the next 12 years and in 2014 the district refunded another bond which will produce $100,000 savings over a 3 year period.
  9. The Park District is sensitive to its taxpayers and has been able to keep its overall tax levy to the existing tax base essentially flat for tax years 2011, 2012, 2013, 2015 and 2016. In addition, the Park Board of Commissioners reduced the Bond & Interest tax levy by approximately $700,000 each year in 2017 and 2019.

*Read more here about the March 2018 referendum and the associated projects. 

Preliminary Budget and Appropriations Ordinance

The preliminary budget and appropriations ordinance will considered at the July Board of Commissioners meeting.
Preliminary BAO

Annual Budget

The Glenview Park District’s fiscal year is May 1-April 30.  A budget is prepared each year and approved at the April board meeting.

Fiscal year beginning May 1, 2020
Annual Operating Budget 2020-2021

Comprehensive Annual Financial Report

As required by law, the Glenview Park District must submit to an annual audit of its financial operations. Below are links to Glenview Park District Audits for recent fiscal years.

Fiscal Year Ending April 30, 2020
Comprehensive Annual Financial Report for Fiscal Year Ended April 30, 2020

Fiscal Year Ending April 30, 2019
Comprehensive Annual Financial Report for Fiscal Year Ended April 30, 2019

Fiscal Year Ending April 30, 2018
Comprehensive Annual Financial Report for Fiscal Year Ended April 30, 2018

Fiscal Year Ending April 30, 2017
Comprehensive Annual Financial Report for Fiscal Year Ended April 30, 2017

Fiscal Year Ending April 30, 2016
Comprehensive Annual Financial Report for Fiscal Year Ended April 30, 2016

Fiscal Year Ending April 30, 2015
Comprehensive Annual Financial Report for Fiscal Year Ended April 30, 2015

Fiscal Year Ending April 30, 2014
Comprehensive Annual Financial Report for Fiscal Year Ended April 30, 2014

Fiscal Year Ending April 30, 2013
Comprehensive Annual Financial Report for Fiscal Year Ended April 30, 2013

Fiscal Year Ending April 30, 2012
Comprehensive Annual Financial Report for Fiscal Year Ended April 30, 2012

Fiscal Year Ending April 30, 2011
Comprehensive Annual Financial Report for Fiscal Year Ended April 30, 2011

Fiscal Year Ending April 30, 2010
Part 1 – Basic Financial Statements
Part 2 – Notes to Financial Statements
Part 3 – Required Supplementary Information
Part 4 – Supplemental Section

For questions concerning this information, please contact the Glenview Park District Administrative Office at 847-657-3215.

IMRF Employer Cost & Participant Information

In 2019, the Illinois General Assembly passed Public Act 101-0504. The law requires IMRF to post certain employer cost and participation information on its website. IMRF will update these reports annually. IMRF Employer Cost & Participant Information