A Financially Stable Naperville
The City of Naperville’s strategy to achieve long-term financial stability is rooted in three principles formally adopted by the Naperville City Council in 2016. These principles, which were developed with the invaluable input of residents, business owners, City Council members and City staff, guide the City’s financial planning and budgeting and serve as the basic standards against which all financial decisions are tested.
The adopted principles were designed to help accomplish the City’s long-term goals of achieving financial stability and maintaining its AAA bond rating by taking into consideration the City’s current state, present opportunities, and the impact of potential decisions on the City as a whole. The principles are:
City will pass a structurally-balanced operating budget annually;
City commits to continuous improvement in the delivery of necessary and
cost-effective services; and
City will actively seek to increase its reserves to 25% and reduce its
debt by 25% in the next eight years.