Items tagged: Finance

City of Champaign Implements New Financial and Human Resource Management Software

Following a 15-month implementation project, the City of Champaign successfully launched a new financial and human resource management software solution on July 1, 2017.  The new Munis Financial Management Software replaces an aging software system that was first put into service 21 years ago.  The new software will streamline and maximize the efficiency of managing […]

CGTV Telecasts Public Meeting for the Proposed Stormwater Utility Fee Rate Increase

On Wednesday, June 28, Champaign Government Television (CGTV) joined the Public Works Department and the Finance Department to produce a live telecast of the public meeting for the proposed stormwater utility fee rate increase. This presentation provides information along with Q & A about the stormwater plan of finance that includes a proposed rate increase. […]

Champaign City Manager Announces Finance Director Appointment

City Manager Dorothy Ann David announced today that Kay Nees, currently the City of Champaign’s City Accountant, will be promoted to the Finance Director position effective June 26, 2017. Ms. Nees has worked for the City of Champaign for the last three years and has more than 18 years of experience working in government accounting.  […]

Finance Department Hosts Two Day Conference

On February 9 & 10, the City of Champaign hosted a two-day conference of the Downstate Chapter of the Illinois Government Finance Officers Association (IGFOA), at the new Home2 Suites hotel. Molly Talkington, the City’s Financial Services Manager/Budget Officer and the Vice-President of Downstate IGFOA, contributed to conference planning and introduced all presenters. Finance Director […]

City of Champaign Refinances Debt, Saves $310,000

The City of Champaign will save $310,000 over the next seven years by refinancing a portion of the bonds issued in 2007.  This is the fourth time the City has refinanced debt in the past several years.  The refinanced 2007 bonds carried an interest rate of 3.75%, while new bonds have an average interest rate […]

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 […]

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 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 […]