CITY COUNCIL AGENDA ITEM
ACTION REQUESTED:
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Receive the report on the CY2018 Budget and review options for the Property Tax Levy reduction (Item 1 of 4)
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DEPARTMENT: Finance Department
SUBMITTED BY: Rachel Mayer, Finance Director
BOARD/COMMISSION REVIEW:
N/A
BACKGROUND:
Budget Overview
The City of Naperville's 2018 budget was approved at $443.6 million, an overall increase of 0.5% from the $441.5 million 2017 budget. The City's three major funds, which equate to 78% of the overall budget, saw limited change from 2017 to 2018.
* The General Fund decreased 0.7% with a total budget of $121.1 million;
* The Electric Utility Fund increased 2.5% with a total budget of $161.3 million; and
* The Water Utility Fund decreased 0.3% with a total budget of $62.1 million.
This limited growth is evidence of the City's proactive annual commitment to reviewing expenditures, generating appropriate revenues and evaluating service delivery methods that provide high quality services to our community. Each year, City staff and City Council spend a significant amount of time exploring and planning how they envision the municipality operating both now and into the future. The City's mission statement, ends policies and financial principles are all guiding influences in the budget development process.
Budget Process
The City's budgetary process occurs year-round; primary activity for the coming year's budget begins in August. Departments develop and submit their operating budget and capital improvement program (CIP) recommendations using historical spending information and projections for the upcoming year.
Two rounds of review followed initial 2018 budget submissions. Finance staff first analyzed trends, spending patterns and prices to reduce submissions. Next, multi-department team meetings that included CMO and Finance provided the environment for collaboration, discussing cost-saving opportunities across departments, and delineating service enhancement requests ...
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