Finance

Finance

Sustainable revenue strategies and funding options

  • Goal 1: Develop strategies to improve financial sustainability.
  • Goal 2: Seek alternate sources of revenue.

Tactic 1: Finalize sale of The Abbey (Completed-Winter 2021)

Progress Update

  • Park Board and School District #205 Board approved a resolution authorizing the sale/purchase of The Abbey (Winter 2021)
  • Cleaned building spaces and packed and moved items from The Abbey to prepare for the sale (Winter 2021)
  • Sold The Abbey for $1.6 million to Elmhurst School District #205 to house their transition program (closing occurred on March 9, 2021)
  • Sale proceeds funding the majority of the new Adult Center renovation (155 E. St. Charles Road) and development of the adjacent Centennial Park (Spring 2021 to Summer 2022)

Tactic 2: Review financial indicators and assumptions and adjust as needed to maintain long-term sustainability (Targeted Completion Date-Summer 2021)

Progress Update

  • Work on this tactic to begin in late-Spring 2021

Tactic 3: Update the financial and operating goals and determine the optimum structure of Enterprise Services to position it for long-term sustainability (Targeted Completion Date-Summer 2021)

Progress Update

  • Work on this tactic to begin in late-Spring 2021

News & Updates

5 months 3 weeks ago

Improvements at the newest District park and expansion of green space are just some of the proposed capital projects District staff is planning for in 2021.

7 months 1 week ago

This week, Elmhurst Community Unit District 205 and Elmhurst Park District finalized plans for the purchase and sale of the property at 407 W. St Charles Road, commonly known as The Abbey.