Financial Sustainability

Financial Stewardship

The Finance department works with all departments in the Forest Preserve District to budget funding sources to aid in the conservation of land and natural resources and provide nature-related programs for DuPage residents and forest preserve visitors.

The District follows sound management principles in its commitment to the planning and use of its financial resources. It maintains a AAA rating from Standard and Poor's based on strong financial operations, fiscally responsible reserves, and disciplined budgeting practices. This superior rating has also enabled the District to attain successful bond sales over our history. In January 2022, the District earned a AAA rating from Standard & Poor’s Global Rating for its series 2022 general obligation limited-tax bonds, which will be used to pay for certified master plan projects without raising debt-servicing costs or increasing taxes.

Please contact the Finance department at forest@dupageforest.org if you have any questions on the following information.

 

Tentative 2023 Annual Appropriation Ordinance

Review our Tentative 2023 Annual Appropriation Ordinance (PDF).

 

Overview of Financial Health

tax-levy-infographic-web

 

Certificate of Achievement for Excellence in Financial Reporting 

The Government Finance Officers Association awarded the Forest Preserve District its Certificate of Achievement for Excellence in Financial Reporting 34 times. The association developed the program to encourage agencies and professionals to “prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure.” Participation and recognition by the award programs exemplify the District's commitment to sound financial practices and stewardship to the residents of DuPage County.

 

Taxes & Funding

Taxes

While nearly three-quarters of a DuPage County homeowner's tax bill goes to support schools, just two dollars of every hundred paid funds all of the services the Forest Preserve District provides. In 2021 tax year (tax levy year 2020) the owner of a house with a market value of $300,000 paid $120 to the District in property taxes.

 

2021-property-taxes

 

Fees

The District also charges residents certain fees and permits for use of facilities and services. Those charges make up about 6.5 percent of the District’s overall revenues.

 

Revenues & Expenditures

To report on its financial position and the results of its operations the District uses fund accounting, which demonstrates legal compliance and aids financial management by segregating transactions related to certain functions and activities. Funds are either governmental or proprietary. Governmental funds account for most of the District’s general activities, such as land acquisition, capital development, servicing of general bonded debt and general operations. Proprietary funds account for business-type activities and receive a significant portion of their funding from user fees.

During fiscal year 2021, the combined revenues of the District funds totaled $61,384,979. Combined expenses totaled $41,278,662.

 

2021-Revenues-Expenditures

  

Annual Budgets

The budget is the foundation of the District’s annual financial planning and is a tool that staff uses to manage daily operations. Starting in 2019, each budget year begins on Jan. 1 and concludes on Dec. 31. All District offices submit budget requests, which serve as a starting point for the development of the comprehensive document. Taking comment into consideration, the Board of Commissioners reviews and revises the appropriation before its adoption. Though not a formal part of the appropriation ordinance, the District uses a five-year projection of revenues and capital expenditures in its financial planning. 

2022 Budget (PDF)
2021 Budget (PDF)
2020 Budget (PDF)
2019 Budget (PDF)
Amendment to the Fiscal Year 2017 – 2018 Budget
(PDF)
Fiscal Year 2017 – 2018 Budget (PDF)

 

Citizens’ Guide to Financial Reports for Fiscal Year 2021

This guide summarizes the financial activities of the Forest Preserve District and provides a general understanding and summary of the major initiatives and financial activities as of year-end 2021. It is not intended to replace the full disclosure financial statements, which can be viewed below.

 

Annual Financial Reports

The Forest Preserve District is required to publish a complete set of financial statements presented in conformance with generally accepted accounting principles and audited in accordance with generally accepted auditing standards by a firm of licensed certified public accountants.

2021 Comprehensive Annual Financial Report (PDF)
2020 Comprehensive Annual Financial Report (PDF)
2019 Comprehensive Annual Financial Report (PDF)
2018 Comprehensive Annual Financial Report (PDF)
2017 Comprehensive Annual Financial Report
(PDF)