Financial Report
2024 Budget
The 2024 Budget, adopted by the Wheeling Park District Board of Commissioners, serves as the Park District’s financial guide. The document reflects the Park District’s goal to be effective and efficient with resources and fiscally responsible with tax dollars. The budget complies with the provisions of the Park District Code, as well as the Budget Philosophy and Guidelines of the Board-approved, Fiscal Operations and Business Policies. The Wheeling Park District budget runs from January 1st to December 31st. This document sets the financial decision-making of the Park District and helps determine the level of service, the number of programs to be offered and the scope of capital projects to be performed.
Total revenues for the 2024 fiscal year are budgeted at $28,819,549 for all funds. From an operating standpoint excluding fund transfers, the budget has increased $919,342 or 3.83% from 2023 budget. Of the existing revenues, 37.26% come from property tax sources, 13.58% from transfers in, and 49.16% from non-tax sources such as program fees, membership fees, daily admissions, and rentals. The 2024 budget reflects as a percent of revenue a 0.7% decrease in tax sources and a 0.7% increase in non-tax sources from 2023. Tax revenues the Park District receives are independent of any other entity (i.e., Village, County, or State) and are generated by residential and business property taxes.
The total expenditures for the 2024 fiscal year are budgeted at $30,235,120, which is a $32,743 or 0.11% decrease from the 2023 approved budget. Of the existing expenditures, 24.63% come from salaries and wages, 12.94% from transfers out, 38.88% from other operating expenses, and 23.54% from capital improvements. Capital dollars committed in 2024 include the Chamber Park redevelopment, expansion of the CRC North parking lot, a new 15-passenger bus, and exterior and roof renovations to Chevy Chase Country Club, along with routine replacements of equipment and mechanical systems to keep the facilities, property, and operations functioning.
The 2024 budget reflects the objective of efficiently executing the Strategic Plan Initiative, which assists in maximizing the Park District’s return on investment. The tax-per-capita spending on park and recreation services equates to $615 for each of the 42,800 residents the Wheeling Park District serves. The 2024 budget continues to support the District’s philosophy of maintaining existing assets prior to taking on new projects. The five-year Capital Replacement and Improvement Plan (CRIP), approved by the Board of Commissioners in 2023, provides a guide for infrastructure and equipment replacements, and improvements. In 2024, the Park District continues to work towards its mission to provide memorable experiences in parks and recreation that enrich our communities.
Certificate of Achievement for Excellence in Financial Reporting
For the last 19 years, the Certificate Achievement for Excellence in Financial Reporting has been awarded to the Wheeling Park District by the Government Finance Officers Association of the United States and Canada (GFOA) for its annual comprehensive financial report. The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
The annual comprehensive financial report has been judged by an impartial panel to meet the high standards of the program including demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story.