Article by Elena Ferrarin
Communications Coordinator
Northbrook Park District
The Northbrook Park District is one of only four park districts among 441 governments that recently earned the prestigious “Triple Crown” opens in new tab winner designation from the Government Finance Officers Association opens in new tab of the United States and Canada (GFOA) for fiscal year 2024.
The designation, which the Park District received in June, recognizes governments who have received GFOA’s Certificate of Achievement for Excellence in Financial Reporting, Popular Annual Financial Reporting Award and Distinguished Budget Presentation Award opens in new tab for the same fiscal year.
“The Triple Crown designation represents a significant achievement,” the GFOA said in a press release. “To qualify, each entity must meet the high standards of all three separate award programs. Each award program recognizes governments that produce reports which communicate their financial stories in a transparent manner and meet applicable standards.”
The Park District is honored to have received the Triple Crown designation, which is testament to its unwavering commitment to fiscal responsibility, Park District Director of Finance and Technology Mike Tokar said.
“This achievement reflects the dedication of our team to responsible financial stewardship and our commitment to implementing industry best practices in government finance,” he said.
As a result of its longstanding commitment to fiscal responsibility, in 2007 Northbrook became the first park district in Illinois to earn Aaa rating by Moody’s, maintaining that over the last 19 years. This has allowed the organization to keep its debt costs to a minimum while stretching even further its sound use of public tax dollars, Northbrook Park District Board President Mike Goodman said.
“Financial stewardship is a core part of our mission,” Goodman said. “Earning the Triple Crown designation underscores our dedication to operating with transparency and fiscal discipline, so we can continue providing exceptional parks, facilities and programs that enhance the quality of life for our Northbrook community.”
The Park District also recently released its Fiscal Year 2025 Popular Annual Financial Report (PAFR), a document designed to provide a brief overview of financial operations in an easy-to-digest format.
The PAFR outlines the Park District’s accomplishments such as completed capital projects, and challenges such as short- and long-term planning for maintenance of aging facilities. The PAFR can be viewed online at nbparks.org/about/finance.
The document is also available to the public at the Northbrook Park District’s Administration Building at 545 Academy Drive, the Northbrook Community Center at 3323 Walters Ave., the Northbrook Sports Center at 1730 Pfingsten Road, Techny Prairie Activity Center at 180 Anets Drive, and Heritage Oaks Golf Club, 3535 Dundee Road, all in Northbrook.