2 results for “service reduction” · agenda
This packet documents a Special City Council meeting held November 5, 2013, in Evanston, Illinois, to present and discuss the 2013 Strategic Plan with focus on economic development, financial policies, and services for at-risk families. The city's current financial and debt policies are detailed in the 2013 Approved Budget (pages 35–44) and include fund reserve policies for General, Parking, Water, and Sewer funds plus a debt policy governing property tax-supported General Obligation debt capped at $113.0 million. As of 2013, Evanston's G.O. debt totaled $152.6 million with other debt of $72.5 million for total debt of $225.1 million, representing a G.O. debt-to-assessed equalized value ratio of 5.60% and a total debt-to-EAV ratio of 8.25%, both exceeding the 2013 municipal average of 3.86% and 5.41% respectively. The city had reviewed potential debt reduction measures in 2010 but took no action at that time.
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