Annual Budget and Audit Report
Annual Operating Budget
The adopted Annual Operating Budget is provided below in PDF format for your convenience. The budget includes an overview section designed to reduce the level of difficult for readers unfamiliar with public budgeting systems. The budget provides comprehensive information for staff to use as a financial policy and day-to-day operation guideline. The document is intended to be a tool in managing daily operations.
Capital Improvement Program
Included in the annual budget is an updated Capital Improvement Program (CIP), which is a plan summarizing all major capital expenditures over the next five years. The plan provides structure for the City to plan future projects. The CIP includes a description of each approved project, along with detailed financial requirements and financing sources. A project qualifies for inclusion in the CIP if it meets the following criteria:
- Has a minimum value of $25,000;
- Has a multiple-year useful life; and
- Results in a fixed asset.
Previous CIP documents are provided below:
The budget development process is extensive and in-depth and includes a series of discussion between staff and City Council. Discussions are structured as public workshops and review the proposed revenues and expenditures for the budget year. Additional, workshops address operating and capital improvement budgets across all City funds and departments. All workshops are held in Council Chambers of the Naperville Municipal Center, 400 S. Eagle Street.
CY2017 Budget Workshop Dates:
- Monday, October 24
- Monday, November 14
- Monday, November 21
Documentation for the workshops can be found on the City's eAgenda Streaming Media Archives.
The City identified three principles in an effort to provide services ensuring a high quality of life for our residents through fiscal management and financial stability.
Principle 1 – The City will pass a structurally balanced operating budget annually
Principle 2 – The City commits to continuous improvement in the delivery of necessary and cost-effective services
Principle 3 – The City will actively seek to increase its reserves to 25 percent and reduce its debt by 25 percent in the next eight years
The principles provided staff with a structure to implement new initiatives designed to create a sustainable financial plan for the city. The staff continues to seek future opportunities based on the three principles. An updated summary of progress is provided below:
The city reviews the financial position of each department and fund on a monthly basis. Reports on the City’s financial position in relation to the budget and previous year are provided below.
CY2017 Monthly Financial Reports
August | September | October | November | December
CY2016 Monthly Financial Reports
Comprehensive Annual Financial Report
The Comprehensive Annual Financial Report (CAFR) details the results of the City’s most recent audit. Past reports are linked below. State law, as well as local ordinances, require the City publish the report within six months of the close of each fiscal year, including a complete set of financial statements presented in conformity with generally accepted accounting principles (GAAP) and audited in accordance with generally accepted auditing standards by a firm of licensed certified public accountants.
- 2015 Comprehensive Annual Financial Report - 8-Month Ended December 31, 2015
- 2015 Comprehensive Annual Financial Report
- 2014 Comprehensive Annual Financial Report
Payroll Budget Report
Open Meeting Acts Compliance
Illinois Public Act 097-0609 (5 ILCS 120-7.3), effective Jan 1, 2012, requires municipal employers participating in the Illinois Municipal Retirement Fund post employee compensation information. Information on employee total compensation packages equal to or exceeding $150,000 a year must be posted at least six days before approval and employees with a total compensation packages that exceeds $75,000 per year must be posted within six days of budget approval. At its discretion, in order to be fully transparent, the City of Naperville posted the complete City payroll budget for Calendar Year 2016 on the City website. The budget reflects employees on the payroll and budgeted individual benefit packages based on participation for Calendar Year 2016. Union wage and benefit increases are included as per agreed contracts, general wage increase assumptions have been applied across all other employee groups.
- CY17 Payroll Budget Report (posted December 8, 2016)