The Budget Process

The Fiscal Year Financial Plan, or Annual Budget, establishes direction for the implementation of all City of Champaign programs and services for the upcoming year. The Financial Plan outlines the Administration’s recommendation on how to meet the needs of our growing community in a fiscally responsible manner and in keeping with the City Council’s goals and policies. The Financial Plan is developed by carefully evaluating available resources following established financial policies, and applying sound administrative decisions and practices. Review and approval of the Financial Plan is one of the City Council’s most important roles.

Budget

The City’s budget (fiscal) year is July 1 through June 30.  Finance prepares a Five Year Financial Forecast in the fall which charts a course for the budget process.  Finance holds a budget “kick off” in December to lay out budget development guidelines based on the strategy set forth in the Five Year Forecast.  City departments meet with the City Manager to discuss specific budget needs or changes prior to preparing their budget submissions.  The City Council adopts the finalized Financial Plan for Community Services (Annual Budget) in June of each year.

Adopted Budget

Prior Year Budget Documents

Budget Archive

Financial Forecast

Each year, Finance develops a Financial Forecast which evaluates the City’s future fiscal status prior to development of the annual budget.  The forecast provides preliminary data which assists City staff and the City Council in making sound decisions regarding the annual budget.  The Financial Forecast provides recommendations on how to plan thoughtfully and strategize. Council approves the budget strategy for the next year budget.  The forecast is a tool which allows staff and Council to work together to fund programs deemed critical, and essential – programs that promote good governance, and maintain or enhance the City’s quality of life.

Prior Year Financial Forecast Documents

Financial Forecast Archive

The Property Tax Levy

State statute requires that the City adopt a resolution estimating the amount to levy, comply with Truth in Taxation Law requirements, and adopt the levy annually before the end of December. The most recent property tax levy information is highlighted in the following report to City Council.

Notice of Purposed Property Tax Levy for the City of Champaign, Illinois

I. A public hearing to approve a proposed property tax levy increase for the City of Champaign for 2024 will be held on December 17, 2024, at 7:00 p.m. at the City of Champaign Council Chambers, 102 N. Neil Street, Champaign, IL 61820.

Any person desiring to appear at the public hearing and present testimony to the taxing district may contact Shannon Myers, City Clerk, 102 N. Neil Street, Champaign, IL 61820, at 217-403-8940; or via email at [email protected].

II. The corporate and special purpose property taxes extended or abated for 2023 were $30,922,736. The proposed corporate and special purpose property taxes to be levied for 2023 are $35,572,200. This represents a 15.04% increase over the previous year.

III. The property taxes extended for debt service and public building commission leases for 2023 were $0. The estimated property taxes to be levied for debt service and public building commission leases for 2024 are $0. This represents a 0.00% increase over the previous year.

IV. The total property taxes extended or abated for 2023 were $30,922,736. The estimated total property taxes to be levied for 2024 are $35,572,200. This represents a 15.04% increase over the previous year.

Sales Tax and Other City Tax Rates

Visit our Business Portal and scroll down to tax information for a breakdown of the City of Champaign Sales Tax rate, plus many other tax rates for Champaign.

 

 

 

Quicklinks

analysis of financial documents