2023 ADOPTED City of Geneva Budget
It is my honor to present to you the 2023 Adopted Budgets for the City of Geneva – General, Water, and Sewer funds. The goal for the 2023 Budget is to invest in the human capital and infrastructure of the City of Geneva to ensure that our resources are effectively and efficiently maintained, providing value for our residents, businesses, and visitors.
To achieve these goals the following strategies were employed:
•Reviewing the current financial climate to conservatively forecast revenues in all three funds. While we have seen revenue growth in 2022, an impending recession, the decreasing costs of fuel, and the slowing down of the housing market all serve as signals that revenue growth may slow down or flatten in the coming year;
•Continuing to invest in our people and partnerships to continue a shift from reactive services to proactive services;
•Asking difficult questions of our departments and trusting our leaders to share the critical needs that have been delayed due to declining budgets, increasing expenses, and deferred maintenance costs;
•Rebuilding our reserves and limiting the use of reserve funds to pay for ongoing expenses, instead this budget asks our community to invest in ongoing expenses with ongoing revenues, while using the reserves wisely for one-time costs.
Here is a summary for the budget financial impact to residents:
•The proposed tax rate if adopted marks a tax levy increase of 6%. This increase will mean that the median home owner will see an increase of $39 in your City tax bill.
•The Worker’s compensation rate is $0.737/$1,000 this means that the median home owner will see a decrease of $90.90 in the workers compensation rate.
•There are no proposed increases for water or sewer funds in 2023.