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 difficulty 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 $50,000;
  • Has a multiple-year useful life; and
  • Results in a fixed asset.

    Budget Process

    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.

    2021 Budget Presentations

    Monthly COVID-19 Financial Updates

    City staff continues to monitor Naperville’s finances as the City moves through the COVID-19 pandemic and into an economic recovery phase. Monthly reports to the City Council provide an overview of the current status of policies and orders impacting recovery and economic indicators. Note: In November and December 2020, presentations did not accompany the reports.

    2021 Monthly Financial Presentations

    January | February | March | April | May | June | July August | September | October | November | December

    2020 Monthly Financial Presentations

     May | June | July | August | September | October | November | December

    Budget Reports

    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.

    2021 Monthly Financial Reports

    January | February | March | AprilMay | June | July
    August | September | October | November | December

    2020 Monthly Financial Reports

    January | February March April May June July August September October November December

    2019 Quarterly Budget Reports

    1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter

    Financial Principles

    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 provide staff with a structure to implement new initiatives designed to create a sustainable financial plan for the City. Staff continues to seek future opportunities based on the three principles.

    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.

    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 2020 on the City website. The budget reflects employees on the payroll and budgeted individual benefit packages based on participation for Calendar Year 2020. Union wage and benefit increases are included as per agreed contracts, general wage increase assumptions have been applied across all other employee groups.

    IMRF Employer Cost & Participation Information

    Illinois Public Act 101-0504, which amended the Illinois Pension Code, requires municipalities that participate in the Illinois Municipal Retirement Fund (IMRF) to post a link to IMRF’s Employer Cost & Participation Information webpage on the municipality’s website.

    Annual Treasurer's Report

    Each year, municipal treasurers prepare and file an account of moneys received and expenditures incurred during the preceding fiscal year as specified by the State of Illinois under statue 65 ILCS 5/3.1-35-65.

    The report provided below includes all moneys received and paid by the City of Naperville during Calendar Year 2016, as well as a summary statement of operations for all funds and account groups.

    Collective Bargaining Agreements

    The following are the current Collective Bargaining Agreements for the City of Naperville.