City manager places $298.1 million biennial budget on file; council schedules budget hearings

On Sept. 23 the Peoria City Council received and filed the city manager’s proposed 2026–2027 biennial budget and was briefed on a schedule of budget hearings and next steps.

The manager summarized highlights: a proposed $298,100,000 two‑year budget with $128,100,000 in the general fund; proposed reserves of about $136,300,000 for 2026 (including $56,700,000 in the general fund); and a $48,900,000 community investment plan prioritizing streets and roads ($17.1M), stormwater and sewers ($14.9M), vehicles/technology/cybersecurity ($10.4M) and facilities ($7.8M).

Staff said the budget fully funds public‑safety pensions, includes funding to prepare for combined sewer system projects and continues investments in neighborhood mini‑grants, housing repairs, affordable housing and demolition of vacant structures. The manager also outlined the budget book contents and gave a timeline: a special budget meeting next week for detailed review; a budget hearing on Oct. 7; a truth‑in‑taxation hearing at the Oct. 14 regular council meeting; another special budget meeting Oct. 21; and final budget adoption planned for Nov. 4.

Council member Cyr requested that the capital improvement program (CIP) be broken down by council district for next week’s discussions; city staff agreed to prepare that breakdown. Council member Kelly moved to receive and file the proposed biennial budget; Council member Jackson seconded and the motion passed unanimously.

The proposed budget book is available digitally on the finance department’s budget web page, staff said.