Prepared for Jennifer M. | Delivered September 1, 2020
Certified Annual Financial Reports.
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To interpret the certified annual financial reports of Oak Park, Illinois, Illinois, and Evanston, Illinois.
Oak Park, Illinois
Oak Park's "total net position in 2018 increased by
from the fiscal year’s beginning balance of
to an ending balance of
The governmental activities portion of net position decreased by 1.7% or $1,487,886, to $(87,343,916), as liabilities increased to a greater extent compared to assets.
For the fiscal year ended December 31, 2018, revenues from Governmental Activities totaled $90,350,103, a 10.3% increase, or $8,402,878, from 2017.
Property Taxes generated 53.0% of the Village’s revenue stream or $47,900,824. Other taxes of $22,066,757 are primarily attributable to the
Village’s utility, sales, state income and real estate transfer taxes realizing an increase of $1,196,067 from the 2017 fiscal year.
For the fiscal year ended December 31, 2018, expenses from Governmental Activities totaled $86,957,530, a $1,448,009 decrease from the 2017 fiscal year amount of $88,405,539, predominately related to decreases in economic and community development expenditures.