City of Joliet presents balanced budget for fiscal year 2019
The city of Joliet recently presented its proposed fiscal year 2019 budget.
Members of the Joliet City Council authorized the city manager to post the budget to the city’s website for public review.
City documents show an overall view of revenues and expenditures for all funds, including transfers-in and transfers-out, is projecting a $19.5 million debt for fiscal year 2019. As for the prior year’s adopted budget, it revealed a $26.9 million debt.
However, the general fund, which covers the budgetary and financial controls for city activities and functions—which are not accounted for in other special funds, is balanced. This did not hold true for the prior year’s budget. City documents showed an estimated $3.83 million deficit in the general fund.
Internally, the city started its budget process in October. Publicly, the process began at the city council’s Nov. 20 meeting.
Among the departments expected to increase city spending from fiscal year 2018 to 2019 is public works, information technology, community development, fire and law. On the other hand, expenditures for the city’s police department are projected to drop.
The city has some outstanding debt issues to address in the years to come.
The budget anticipates starting fiscal year 2019 with $5,095,000 in outstanding debt.
City documents show it is the city’s goal to eliminate its debt obligation by 2023.
The city council anticipates reviewing the fiscal year 2019 budget at its Dec. 4 meeting.
Residents and community members will have an opportunity to present comments as it regards the budget during a public hearing currently planned for Dec. 17.
The city has not announced plans to hold a special meeting to review the budget, to date.
Officials are expected to adopt a final budget for fiscal year 2019 at their Dec. 18 meeting.