Promises Made - Promises Kept
Vote April 1, 2025

Financial Health of Crest Hill

I am proud to report that our city budget has been balanced with a year-end surplus for past 15 years, even during some tough economic times. I will continue to work with city staff and city council to produce a budget that is fiscally responsible and balanced. We will continue to promote our city in a positive manner, and to make improvements in the best interest of our city's financial prosperity.

At the April 18, 2016 City Council meeting, the City of Crest Hill received recognition for excellence in its governmental accounting and financial reporting practices. The Government Finance Officers Association of the United States and Canada (GFOA) awarded the City a Certificate of Achievement for its Comprehensive Annual Financial Report (CAFR) for the fiscal year that ended April 30, 2015. This award is the highest form of recognition in governmental accounting and financial reporting. Less than 12% of municipal governments in the State of Illinois achieve this honor annually. We have continued to receive this most prestigious award each year starting in 2016 and have now received it for nine consecutive years.

This is the sixth year we are continuing to fund for our Vehicle Replacement Program, Capital Improvement Program, and Technology Replacement Program, to ensure that our city employees have the most up to date equipment to provide better services to our residents. These programs have resulted in tremendous savings to the City as we have spent less money on upkeep and maintenance of our vehicles and equipment and have received a better trade-in value because of this program.

Mayor Ray Soliman and Governor JB Pritzker

Always committed to its police officers, the City has a long range vision and plan for a fully funded police pension by 2038. This will be done by adding $150,000 to that fund each year for the next ten years, which is above the requested annual amount. State law requires police pension funds be 90% funded by 2040. Our Police Pension fund is currently funded at 72.6%. The City of Crest Hill is doing well with our Police Pension funding compared with our surrounding communities.

The City of Crest Hill finances are in a strong and healthy position, and we have worked cooperatively over the last 15 years to make major improvements in our financial area. Our sales tax revenue has increased every year for the last 15 years. This is a direct result of more businesses opening in the City of Crest Hill than ever before, and more shoppers visiting our City. The Crest Hill budget also maintains a 7 month reserve and, more importantly, comes without any tax increases to its residents. In 2019, the City of Crest Hill received an upgrade to its current bond rating of AA3. We were upgraded to AA, which is the third highest bond ranking out of 21 investment grades. This bond rating is the highest in our City's 64 year history, which will provide a tremendous savings on bond issues for future projects. The City of Crest Hill has come a long way over the last 16 years, and I am proud to continue our tradition of providing quality services to our residents, visitors, and businesses. The City is fiscally responsible and conservative in our budgeting practices and I am proud to have received an award that reflects this.

I look forward to continue making improvements and investing in our city's future in order to enhance the quality of life for all our residents. Please vote April 1, 2025 to re-elect Ray Soliman.

Investing in Crest Hill's Future