CITY COUNCIL AGENDA ITEM
ACTION REQUESTED:
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CY2018 Budget Workshop #3
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DEPARTMENT: Finance Department
SUBMITTED BY: Erik Hallgren, Financial Services Supervisor
BOARD/COMMISSION REVIEW:
N/A
BACKGROUND:
The City of Naperville Calendar Year (CY) 2018 budget recommendation is $445.4 million, an increase of 0.93% from the CY2017 budget that totaled $441.3 million. This limited growth is evidence of the City’s 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. With service delivery at the core of each City department’s daily efforts, those services are reflected in the budget recommendation.
DISCUSSION:
This packet of information will provide City Council with an overview of the third Calendar Year (CY) 2018 proposed budget workshop, which will include a discussion on revenues, miscellaneous City funds and follow-up requests from the first two budget workshops, as well as decision points to finalize the CY2018 budget and property tax levy request. The following attachments are included for reference on the third workshop.
1. Overview Memo
• Attachment - Q&A from Workshop #1 and #2
• Attachment - Early Retirement Incentive (ERI)
• Attachment - CY18 Vehicle Replacement List
• Attachment - Emergency Reserve Policy
2. Water Rate Memo
3. Pension Funding Memo
• Attachment - Foster & Foster Funding Policy Letter
4. Proposed $1.2M Budget and Service Reductions Memo
• Attachment - Itemized List of CY18 Budget and Service Cut Options
FISCAL IMPACT:
N/A