Naperville trims $7 million budget gap

As recently as November, Naperville officials feared they would face a $7 million budget gap for the approaching fiscal year.

Since that time, city officials say they’ve cut that gap to $700,000 by implementing numerous cost-saving measures, increasing some fees and paying down their line of credit for the Millennium Carillon.

“Based on updates to sales tax estimates, some unexpected funds we got from the state of Illinois for the Naper Boulevard resurfacing project, an update to the Illinois Municipal League’s income tax estimates and a small update for our ambulance fees this year, the gap currently stands at $700,000,” City Manager Doug Krieger said Monday.

Finance Director Karen DiAngelis says the city also has been encouraged by improvements in the retail sales environment that are expected to boost sales tax revenue both this fiscal year and next.

In addition, with the unemployment rate finally beginning to trend downward, the Illinois Municipal League projected in January that municipal income tax revenue could rise by as much as $200,000. Ambulance billing is also about $100,000 more than city officials projected.

In a memo to the city council, DiAngelis said staff members are investigating two additional areas where more dollars may be recouped.

She estimates the city’s old Motorola radio equipment could be sold for as much as $300,000. And she said departments are continuing to control expenditures.

The city’s next budget gap update is scheduled for March 7.