Princeton Park District reviews budget

At this week’s meeting, the Princeton Park Board reviewed several pieces of financial information as presented by administrative assistant Tammy Lange in the absence of Elaine Russell, executive director. The park district is right on track on both the expense and revenue side of the budget for the current fiscal year, Lange said.

According to a budget comparison with previous fiscal years, the park district had a cash balance of $974,091 in December 2007, with that number rising to about $1.3 million for the past couple years.

On Tuesday, Russell said the difference between those fiscal year numbers can be attributed to the amount of bonds issued by the district, to how taxes increased and then fell some during that time period, and also to the district working hard to increase revenue.

Concerning the six-month financial review for the current fiscal year, Russell said the district is below its budgeted expenditures and is equal with its estimated revenues. However, the district does have the paving of the Metro Center parking lot and equipment purchases yet to handle in this fiscal year’s budget.

Though the park district has gone past its “lean budget” of the 2012-13 fiscal year and into a “moving forward” budget for the current 2013-14 year, the district will still have to watch its money very carefully, Russell said.

“The park district will have to be very frugal with its money. And, not loading a budget with more than it can realistically pay for, is the key,” Russell said. “Having the ability to maintain our current parks, buildings, parking lots and the Metro Center will take constant capital improvement management that we must stick to as a team. What the park district has done over the past few years is to increase our cash in the bank, not an easy thing to do with so much to manage. However, the board and staff has done that by saying no to our wants and yes to our needs.”

In other business at Monday’s meeting, Lange gave an update on the April 27 Conquer the Hill half-marathon, the second annual half-marathon sponsored by the Princeton Park District/Metro Center.