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Finances

One of the Park District's Strategic Initiatives is Financial Strength. The District takes a multi-facetted approach to ensure its financial strength which includes aligning resources efficiently, optimizing return on investment, maximizing funding opportunities, and creation and management of sustainable operations plans. The District’s financial strength is evidenced by our Aa2 bond rating given by Moody’s Investors Service and maintained by the District since 2011.

While the District constantly looks to expand our non-tax revenue sources, we still operate with taxpayer support.  Property taxes comprise about 53% of District revenues. The District takes our responsibility to taxpayers seriously and manages tax dollars efficiently.  The District’s tax levy currently accounts for 4.99% of Oak Park taxpayer’s assessment.

P.A. 97-0609 IMRF Disclosure

The Park District is required by PA-97-0609 to disclose a list of employees expected to receive compensation greater than $150,000 six days prior to approval of its annual budget.  Within 6 business days after approving the annual budget, the Park District is required to provide a list of all employees that are expected to receive compensation of greater than $75,000.  Compensation includes salary, the cost of all employer provided health insurance programs, employer pension contributions, car allowances, bonuses and any other form of compensation.  The 2018 disclosure can be found in the documents menu on the right side of the screen.

 

Prevailing Wage Notice

The Park District adopts annually a prevailing wage ordinance in accordance with the Prevailing Wage Act.  Prevailing Wage Act requires contractors and subcontractors to pay laborers, workers and mechanics employed on public works construction projects no less than the general prevailing rate of wages (consisting of hourly cash wages plus fringe benefits) for work of a similar character in the county where the work is performed. The Park District of Oak Park complies with Prevailing Wage.

The Park District's ordinance and prevailing wage rates for Cook County from the Department of Labor are below:

Prevailing Wage Ordinance

Illinois Department of Labor

 
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