Schnuer: City Finances In Excellent Shape
Champaign’s finance director says the city is in excellent financial shape.
Richard Schnuer says Champaign is the only Illinois city south of Interstate 80 to boast AAA ratings from two bond rating agencies. He says Champaign’s fiscal position has improved since he started working for the city in the mid-1980s, with upgrades in areas like infrastructure, and economic development in the downtown area for the benefit of residents.
“That involves spending money, but making sure that we do it in a prudent way, we just don’t throw money at developers without knowing the outcome. We’ve certainly made a few mistakes, but by and large, when we’ve made those investments, they’ve really paid off for the city," he said.
Monday night marked the last financial report before the Champaign City Council for Schnuer, who’s retiring in early March, after 31 years with the city.
Schnuer has a couple of goals before retirement. He’d like to see through plans for drainage improvements to Boneyard Creek north of University Avenue, while making plans for similar upgrades in the Garden Hills area.