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posted: 7/30/2012 5:00 AM

Park district already plenty well funded

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Regarding the park district referendum in Arlington Heights, the Cook County Treasurer has a link to the financial statements for all government entities in the county. For 2011, the AHPD had $31.5 million in current assets. They had $9.7 million in current liabilities. For financial types, that is a current ratio of 3.3. Most private businesses average about 1.5.

Compared to a well-run business, AHPD has $15 million more in current assets than it needs to responsibly meet its current liabilities. This money represents the accumulation over time of taxes collected in excess of expenses.

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The library is also interesting. The AHPL has $19.8 million in current assets versus $1.2 million in current liabilities. Assuming you need to keep a couple million around for a rainy day, the library has at least $16 million in excess taxation accumulated.

Steve Kopp

Arlington Heights

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