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The Geneva City Council unanimously approved a $128 million 2023-24 fiscal year budget during its Feb. 6 meeting. The City's budget is a combination of 36 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 include the following:
Dedicating $1.8 million for capital projects and equipment purchases.The City continues to maintain a strong credit rating of Aa2, which was reaffirmed last fall.The City accounts for an estimated 6% of a resident’s overall property tax bill. What does this mean for homeowners? A home valued at $350,000 will pay approximately $567 to the City of Geneva, an increase of about $3 from the current fiscal year.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.