Board Adopts Reduced Budget
May 11, 2016 10:00 AM
To keep nearly 31,000 acres of forest preserves in Lake County safe, clean and open for people to enjoy, the Lake County Forest Preserve District (District) Board of Commissioners adopted a fiscal year 2016-2017 budget of $71,934,240 at their May meeting.
For the first year since 2008, total Forest Preserve property tax revenues collected are projected to increase due to increases in the Equalized Assessed Value (EAV) of Lake County property. Even though the county EAV and resulting tax revenue is slightly up for the first time in seven years, the amount collected is still well below 2008 levels. The balanced operating budget is about $62.3 million less (46.3 percent) than in 2008-09. The District remains in secure financial condition because of its conservative budgeting practices and wise use of available fiscal resources.
The overall budget request is $23.2 million (24.4 percent) lower than the previous year, primarily due to a $22 million decrease in capital spending.
Of property taxes collected in Lake County, 2.17 percent of the typical tax bill goes to support your Forest Preserves. The budget is balanced even though the county EAV has experienced an unprecedented drop of 23.1 percent from 2008 to 2015, which translated into a significant drop in property tax revenue during that period. Over that time, the District has reduced staff and took many other cost-cutting measures to maintain a balanced budget. The District's operating budget has been cut by $12.7 million over the past six fiscal years, or approximately 18 percent, even though substantial increases in District lands and trails have occurred during that same time period.
“Despite another challenging year, the Lake County Forest Preserves is fully committed to protecting our resources and providing high quality education and outdoor recreation opportunities in an environmentally and fiscally responsible way for all to enjoy,” said President Ann B. Maine, Lake County Forest Preserves. “We are proud that our board and staff worked together to build this balanced budget. This year we improved our planning strategy by moving from a 5-year to a 10-year Capital Improvement Plan (CIP), a discipline that allowed for focusing capital funding on tightly mission-based projects.
"Our conservative budgeting approach has helped to maintain our AAA bond rating, an achievement shared by only six forest preserves and park districts in the nation.”
Budget Overview
Expenditures for operating and maintaining the Lake County Forest Preserves decreased by $713,413 to $31,243,530. Fifty-seven percent of the budget funds land purchases and capital projects ($13,898,740), or retirement of voter-approved bonds ($26,791,970) for those lands and projects.
The budget includes a 10-year Capital Improvement Plan (CIP), which outlines 62 projects, such as trails, public access improvements, preserve maintenance and habitat restoration to be completed in preserves throughout Lake County. There is a decrease of $7.5 million or 16 percent in this year’s CIP budget. Commissioners have reviewed the CIP over the last several months to reset project priorities and budgets to reduce long-term operating costs.
Engineering work for several public access improvements and renovations is underway at several preserves and trail systems, including Captain Daniel Wright Woods (Mettawa), Waukegan Savanna (Wadsworth), Fort Sheridan (Lake Forest), and Middlefork Savanna (Lake Forest). Engineering is nearing completion on portions of two regional trails including a 0.25-mile section of the Millennium Trail in Wadsworth, which will eventually run through central, western and northern Lake County, and a 2.4-mile section of trail that will eventually connect Lyons Woods (Waukegan) and Waukegan Savanna.
“District staff will continue to monitor the countywide EAV to determine the best course of action moving forward. The ultimate goal is to maintain the fiscal and environmental health of the District,” said Maine.
Media Contacts:
Ann B. Maine, President, email, 847-367-6640
Steve Neaman, Director of Finance, email, 847-968-3109
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