Sustainable revenue strategies and funding options
- Goal 1: Develop strategies to improve financial sustainability.
- Goal 2: Seek alternate sources of revenue.
Tactic 1: Improve capital and asset management planning (Completed 2022)
- Researched and reviewed capital and asset management planning processes at other agencies and innovative practices (Spring 2022)
- Utilizing the research, began evaluation of current capital and asset management planning process to determine strengths and opportunities for improvement (Spring 2022)
- Implemented changes to improve process within available resources, including: redesigning the Capital Project Request Form, developing a more detailed long-range capital project spreadsheet to improve the tracking and reporting of future project needs and costs, and using additional evaluation metrics to determine the relative priority of projects (Spring 2022)
- Utilized redesigned long-range capital project spreadsheet to report and analyze capital project data by project category, park location and facility location for additional transparency of proposed capital project needs and financial and project planning (Fall 2022)
Tactic 2: Communicate the District’s financial condition and future outlook and the resulting impact on the ability to address community priorities (Targeted Completion Date-December 2022)
- Compiled list of metrics for reporting on the District’s financial condition, future outlook, and benefits provided to the community along with potential methods for communicating data (Spring 2022)
- Began inventorying available data to begin reporting (or track in the future) and to develop a communications timeline (Spring 2022)
- Added messaging to relevant District news articles related to taking care of current assets to continue to tell our story (Spring and Summer 2022)
- Executive Director and Park Board President presented future outlook in the State of the Park District address available on epd.org (Fall 2022)
- Tactic will continue to be addressed in 2023