Category: Finance Department News

City Staff Discusses Community Engagement with Visitor from Sierra Leone

City staff recently met with Christian Kamara, the National General Secretary and Chief Executive Officer of the YMCA in Sierra Leone. Mr. Kamara was visiting for a week to explore collaborations in global service learning with The University YMCA, which has a long-term partnership with the YMCA of Sierra Leone. Mr. Kamara expressed an interest in […]

City of Champaign to Preserve and Increase Accessibility to Historical Documents

  At their January 26, 2016, meeting, the Champaign City Council approved a project to preserve Council documents from the City’s inception through the present. This project will also make the documents more accessible to both historians and members of the general public. The documents to be preserved include City Council meeting minutes, resolutions, and […]

City of Champaign Receives Distinguished Budget Presentation Award

The Government Finance Officers Association of the United States and Canada (GFOA) is pleased to announce that City of Champaign, Illinois has received the GFOA’s Distinguished Budget Presentation Award for its budget. The award represents a significant achievement by the entity. It reflects the commitment of the governing body and staff to meeting the highest principles of governmental […]

Financial Forecast Projects Positive Outlook and Increasing City Revenues

Conservative financial policies and proactive measures taken during the recession continue to pay off as the City of Champaign’s financial forecast shows continued growth in our local economy and City revenues. The forecast predicts additional funding will be available to address some of the City’s more critical needs, like street repairs and public safety staffing. […]

CAFR Award

The City of Champaign received a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR). The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a […]

GFOA’s Budget Award

The Government Finance Officers Association of the United States and Canada (GFOA) has awarded the City of Champaign the Distinguished Budget Presentation Award for its Financial Plan for Community Services (annual budget). The City has received this award annually for 24 years, which shows a strong commitment to producing the highest quality budget document that reflects the guidelines and […]

City of Champaign’s 2015/16 Budget Invests in City’s Future

Administration Proposes Balanced Budget, Continuing Delivery of High Quality, Essential Services The City Administration is pleased to present a balanced budget that builds upon the City of Champaign’s long history of fiscal discipline. The budget allows for the continued delivery of essential City services, embraces growth, and preserves our vibrant community. The City’s AAA bond rating evidences Champaign’s […]

City of Champaign Bond Refinancing

The City of Champaign saved a total of $526,066.67 over the next thirteen years by refinancing a portion of the bonds issued in 2008 to finance the construction of the downtown parking deck. This is the fourth time that the City has refinanced debt in the past five years. The City’s high credit rating helped it achieve a […]

State of Illinois Fiscal Year 2014/15 Budget Fix

The State of Illinois recently adopted a budget “fix” to fund services that would have been cut this year if the State had not taken any action. The State took certain money, designated to specific services, and moved it to fund other services (referred to as a “sweep”).  Some of the sweeps affected revenues that the State shares […]

City of Champaign Bond Refinancing

The Finance Department will propose that the City refinance the 2008 General Obligation bonds to save an estimated $490,000 over the next eleven years. The City issued the 2008 bonds to finance a portion of the downtown parking deck, so the refinancing will reduce future expenditures in that fund. This would make the fourth time that the City […]