Naperville closes $11.2 million budget gap
Mother Nature can be a real pistol when she wants to be, but Naperville is singing her praises today.
Finance Director Karen DeAngelis said the mild winter has dramatically reduced the city’s costs for plowing and salting and helped officials save the final $400,0000 needed to close what once was an $11.2 million budget gap for the coming fiscal year.
Staff members from every department have been whittling away at the budget since September. In addition to the weather, DeAngelis attributes the city’s improved financial picture to an improved economy, further cost cutting and safety improvements that have lowered workers’ compensation and health care claims.
“We have balanced the FY13 budget — and fully closed what started out as an $11 million gap. We have also absorbed a 2.75 percent reduction in the property tax levy — a total of $1.4 million,” DeAngelis said. “The closure is the result of the right behaviors having been embedded in the city staff, along with some help from the economic environment.“
Increases in sales tax collections and permit fees are boosting revenues in the current fiscal year and have increased the projections for fiscal 2013. Other revenue this year is roughly on budget, DeAngelis said, so the conservative cushion council members requested be included in the budget will not be needed.
Council members are expected to approve the 2013 fiscal budget, which begins May 1, in March.
Next year’s projected gap is already proving to be a bit more daunting at $16 million.