Category: Finance Department News

Budget Presentation at the STAR Leadership Institute

Richard Schnuer made the keynote presentation to kick off this year’s STAR Leadership Institute. His presentation on the City’s budget included not only financial information, but also explained the many ways in which citizens can make their voices heard in the budget process. Staff of the Neighborhood Services Department, which organizes the Institute, reported that…
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2011 Property Tax Levy Extension

The County has extended the City of Champaign’s 2011 property tax levy of $19,955,632, which property owners will pay this year. The County determined that the Equalized Assessed Valuation (EAV) of taxable property is $1,525,193,507. In the fall, based on an estimate provided by Champaign County, the City projected a 2011 EAV of $1,510,800,000, which…
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Fitch Affirms City’s AAA Debt Rating

Fitch Ratings has affirmed the City’s AAA bond rating. In its press release announcing the rating, Fitch noted the following “key drivers” in its rating decision: • University Provides Stability • Diverse Revenue Stream • Strong Fund Balance • Solid Management With respect to the strong fund balance, the press release stated “Fitch believes the…
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