Naperville’s Financial Strength
Councilman Coyne has demonstrated his strong commitment to fiscal discipline. As a result, the City of Naperville stands head and shoulders above comparable communities in IL, with the lowest property tax rate, lowest sales tax rate, and best pension funding, all while maintaining the city’s AAA bond rating.
Councilman Coyne, along with his fellow City Council members have continued to practice financial constraint to achieve the city’s financial principles, outlined as part of the city’s 2016 budget.
The City identified three principles in an effort to provide services that ensure 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.
During the third quarter of CY2016, staff has been working to implement initiatives and future opportunities in support of the principles that it believes will create a sustainable financial plan that supports the city moving forward.