Northbrook Park District Earns National 'Triple Crown' Finance Honor

NORTHBROOK, IL — The Northbrook Park District has received a national “Triple Crown” designation recognizing its financial reporting, budgeting practices and public transparency.

The Government Finance Officers Association of the United States and Canada awarded the designation in June for fiscal year 2024. Northbrook was one of only four park districts among 441 government agencies to receive the honor.

To qualify, governments must earn three separate GFOA awards for the same fiscal year: the Certificate of Achievement for Excellence in Financial Reporting, the Popular Annual Financial Reporting Award and the Distinguished Budget Presentation Award.

“The Triple Crown designation represents a significant achievement,” the association said in a statement. “To qualify, each entity must meet the high standards of all three separate award programs.”

The programs recognize governments that present their finances clearly, meet professional standards and communicate their financial condition to the public.

‘Responsible Financial Stewardship’

Mike Tokar, the Park District’s director of finance and technology, said the designation reflects the organization’s focus on fiscal responsibility.

“This achievement reflects the dedication of our team to responsible financial stewardship and our commitment to implementing industry best practices in government finance,” Tokar said.

The Park District also has maintained a Aaa bond rating from Moody’s for 19 years. In 2007, Northbrook became the first park district in Illinois to earn the rating, according to the district.

The rating has helped keep borrowing costs down and allowed the district to make more efficient use of public tax dollars, 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.”

Financial Report Available

The Park District recently released its fiscal year 2025 Popular Annual Financial Report, which provides a condensed overview of its finances in a format intended to be accessible to residents.

The report highlights completed capital projects and longer-term challenges, including planning for the maintenance of aging facilities.

It is available online through the Park District’s finance page and in person at several Northbrook facilities:

• Administration Building, 545 Academy Drive
• Northbrook Community Center, 3323 Walters Ave.
• Northbrook Sports Center, 1730 Pfingsten Road
• Techny Prairie Activity Center, 180 Anets Drive
• Heritage Oaks Golf Club, 3535 Dundee Road

The Northbrook Park District was established in 1927 and operates parks, recreational facilities and community programs throughout the village.