CITY COUNCIL AGENDA ITEM
ACTION REQUESTED:
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2019 Budget Workshop #1
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DEPARTMENT: Finance Department
SUBMITTED BY: Rachel Mayer, Finance Director
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BACKGROUND:
The City of Naperville's 2019 operating budget is recommended at $452.2 million, an overall increase of 2.2% from the $442.4 million 2018 budget. The City's mission statement, ends policies and financial principles are primary 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 final budget recommendation, which staff believes lays out the resources necessary to accomplish the City's goals and maintain high-quality service levels for Naperville's residents and business community.
DISCUSSION:
In preparing the 2019 budget, staff sought direction from Council on a variety of factors that influence the budget recommendation, including adherence to the City's financial principles, direct correlation to the City's ends policies and goals and justification for service level issues and associated resource requests. Input received provided a clear policy framework for creation of the budget, which provides the fiscal means to move Naperville forward as a City and an organization.
Based upon City Council's engagement and guidance during these discussions, the 2019 budget recommendation continues to align with the City's three financial principles, as the budget is structurally balanced and, by the end of 2019, reduces the City's debt by 21% and increases cash reserves by $2.8 million.
Principle #1
Principle #2
Principle #3
The City will pass a structurally balanced operating budget annually
The City commits to continuous improvement in the delivery of necessary and cost-effective services
The City will actively seek to increase its reserves to 25% and reduce its debt by 25% in the next eight years.
2019 Proposed - Achieved
2019 Proposed - On Target
2019 Prop...
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