05/03/2022
What a difference four years makes. This was a great memory and one of the best accomplishments we had of the Forest Preserve in my time on the board.
Forest Preserve of Will County pays off 71 million dollars of bonds over the last 5 years!!!
I am so proud of Commissioners and the Staff at the Will County Forest Preserve. In this day and age, to be able to be a Double A Plus rated agency is outstanding. Here are some of the highlights that the Forest Preserve seen in 2017:
1) We were in an $850,000.00 better cash position than what was budgeted. This was due to two things. A) A 2.2 percent increase in user fees from people using the Forest Preserves as well as an increase in Replacement Tax from the State and B) a Reduction, that's right, a reduction of expenses of 5%. Think about that, A reduction in Expenses. Even though they had it budgeted, they didn't spend it!
2) We have an unassigned fund balance that is about a nine month reserve thus ensuring that we would not be in financial problems should we fall upon hard times. Our rainy day fund is strong.
3) We paid cash in 2017 for our capital improvements. No bonding out, paid cash!
4) We paid off 71 Million dollars of Bond Debt in the last 5 years.
5) The final Capital Appreciation Bond that was issued 20 years ago will be paid off in December, 2018. Goodbye!
6) In 2019, The district will pay out 7 million dollars less than in 2018 for bond debt thus saving the taxpayers lots of money that will be directly reflected in the future tax bill.
7) In recognizing that the Forest Preserve is a Seasonal business, we have turned our workforce in to a Seasonal or Part time work force. Over 57% of our W-2 Employees were either Part time or seasonal, thus saving on expensive Health plans and Retirement. This was a BIG part of the 850,000.00 savings talked about above.
8) We had 16,000 service hours donated to the Forest Preserve in 2017, saving the district $400,000.00
9) The Forest Preserve is Pre-Funding the Retiree health trust fund. One of only 8 taxing bodies that Sikich audits to do so.
10) The Forest Preserve of Will County has the highest percentage funded on its Retiree Health Trust Fund than any other taxing body that they audit.
These are just some of the highlights from the audit of last years final numbers. I am proud to serve as the Finance Chair for the Forest Preserve and I am even more proud of the employees and Commissioners that pass policies that help us to maintain our Strong Fiscal Strength. Thank you for everything you do.
