Litchfield Park District Financials Show $594,193 in Corporate Fund Assets

Article Summary: The Litchfield Park District accepted its monthly financial reports on June 3, 2026, showing $594,193.01 in Corporate Fund assets, $38,732.94 in May net income, and a Recreation Fund that lost $3,980.52 for the month.

May Financial Report Key Points:

Corporate Fund total assets stood at $594,193.01 as of May 31, 2026, against $7,355.56 in liabilities.

Corporate Fund net income for May was $38,732.94, down from $67,831.02 in May 2025.

The Recreation Fund posted a $3,980.52 loss for May, against a $2,352.45 gain a year earlier.

The district’s annual audit is under way, with a presentation to the board expected in August or September.

LITCHFIELD — The Litchfield Park District Board of Commissioners accepted its monthly financial reports on Wednesday, June 3, 2026, on a motion by Treasurer Brian Kulick, seconded by Vice President Katie Cross. The motion carried.

Every statement in the packet is dated as of May 31, 2026, and covers the month of May.

Corporate Fund

The Corporate Fund balance sheet shows total assets of $594,193.01 — $492,403.63 in checking at Bank & Trust and $101,789.38 in certificates of deposit. Against that sit $524.00 in accounts payable and $6,831.56 in payroll-related liabilities, for total liabilities of $7,355.56 and total equity of $586,837.45.

May income totaled $140,974.76 and expenses $102,241.82, producing net income of $38,732.94. The single largest revenue line was $110,000.00 in Kilton Fund money; pool receipts contributed $24,875.25, replacement taxes $4,910.82, miscellaneous income $1,044.64, interest $94.05 and Walton Park advertising $50.00. The advertising figure came from a single $50.00 deposit from HSHS St. Francis Hospital.

The largest expense was $80,402.00 in the Kilton Trust Fund account, followed by salaries of $10,099.61, pool maintenance and operations of $5,539.65, utilities of $2,950.95, gas and oil of $963.53, payroll taxes of $962.04 and park maintenance and supplies of $1,306.71. Capital outlay was $0.00.

The year-over-year comparison shows a narrower month. In May 2025 the fund took in $167,982.21 — including $162,000.00 in Kilton money — spent $100,151.19, and netted $67,831.02.

Recreation Fund

The Recreation Fund balance sheet shows $207,055.77 in checking, $2,994.71 in liabilities and $204,061.06 in equity.

The fund ran a deficit for the month. Income was $6,834.75 against $10,815.27 in expenses, a net loss of $3,980.52. In May 2025 the same fund took in $12,530.65, spent $10,178.20 and netted a $2,352.45 gain.

Community center rental produced $1,850.00 in May 2026, up from $1,750.00 a year earlier, across four rentals. Line dance fees brought $9.00 and yoga classes $23.00. Real estate tax lines for both recreation and audit purposes showed $0.00 in May in both years.

On the expense side, salaries were $5,950.00, office supply $1,450.05, utilities $1,299.91, community center repairs and maintenance $849.27, community center supplies $614.80 and newspaper ads and legal notices $158.01. The repairs line is up sharply from $48.96 in May 2025.

Audit Under Way

Reporting for the Financial committee, Kulick told the board that Amy Patton “was recently on site to garner information for our annual audit,” that the audit will be completed at the auditor’s office, and that she will return to present it to the board in August or September. The May 6, 2026, minutes identify the firm as Patton and Associates and note the auditors had been waiting on the district to close out its books for the fiscal year.