The Forest Preserve District of Will County is in “great financial shape,” officials said as they previewed the 2018 budget numbers.
The proposed budget will be balanced, with revenues and expenses each projected at $16.6 million, and end with a fund balance of $7.5 million, said finance committee chairman Ray Tuminello, R-New Lenox, during a finance committee meeting Wednesday.
Final approval of the 2018 budget and the 2017 tax levy will be in November.
Tuminello said the proposed budget shows a $603,000 drop in expenses and therefore, should result in a 3 percent drop in the tax rate.
For example, the district restructured its health insurance plan to save $157,000, reduced personnel expenses by $41,000, and ended its Emerald Ash Borer program, which last year, cost $250,000, he said.
Tuminello said the district is in “great financial shape.”
The forest preserve district gets 83 percent of its revenues, or $13.8 million from property taxes. But Tuminello also said they expect to get $181,000 less from the state.
The budget also includes $900,000 for projects, such as improvements to Isle ala Cache Shelter, Whalon Lake Lakeside Shelter, Centennial Trail-Schneider’s Passage, and Normantown Trail, Rockwell Lane to 111th Street, ending a three-year plan for capital improvements.
Tuminello said the district has a AA-plus bond rating, and he thanked fellow commissioners “for the hard work and decisions that we have made to get to this point.”
In recent years, the district offered an early retirement incentive program to employees, and cut back on some of its labor-intensive, large scale programs.
Given the financial health of the district, and a $7.5 million fund balance, officials made several suggestions.
President Suzanne Hart, R-Naperville, said she wants the board of commissioners to develop a long range plan of five or 10 years, to map out future projects.
Commissioner Mike Fricilone, R-Homer Glen, suggested that they assess all their buildings and mechanical systems and develop a replacement plan.
Chief operating officer Ralph Schultz said while they need to maintain the trails and facilities they have, he will work with the citizen’s advisory committee to determine if any land parcels should be acquired.
Commissioner Jim Moustis, R-Frankfort Township, suggested that part of the fund balance be used for development, “to give people more access to the preserves and passive recreation.”
Twitter @SusanLaff
