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The Geneva City Council unanimously approved a $102.9 million 2021-22 fiscal year budget, a 3.7% decrease from the current budget, during its Feb. 1 meeting. The City's budget is a combination of 37 individual budgets, all having different purposes and different legal restrictions. Geneva’s fiscal year runs from May 1 to April 30.Development of the annual budget is more than number crunching; the City’s budget reflects our vision, strategies and priorities. Highlights of the General Fund (the City’s largest budget fund, which is seeing a 1.8% decrease) include the following:
Starting this spring, the City will enhance recycling in downtown Geneva by adding dedicated carts as part of a new pilot program funded by the City’s Special Service Area No. 1.Geneva’s electric and water/wastewater customers also will not see any utility bill rate adjustments in the next fiscal year.The City’s property tax rate will decrease 6.27% during the next budget year from 0.575880 to an estimated 0.539798. What does this mean for homeowners? A home valued at $350,000 will see an approximate $39.93 decrease in the City's portion of their next property tax bill.The coronavirus pandemic has created much uncertainly during the past year. But thanks to responsible budget planning and a vision for the future, the City is strategically positioned to weather the COVID-19 economic impact and will remain on solid financial ground in the years to come.Elected officials and City staff are committed to a balanced and fiscally sound budget plan that will continue to provide high-quality public services, support the vision outlined in the strategic plan, and manage challenges that each new year brings.The budget, strategic plan and other financial documents are available to view on the City’s website.