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Peoria County reports FY24 unaudited year-end, cites PBRT shortfall and $1.8 million preliminary general fund surplus
Summary
County finance staff told the Legislative Affairs Committee that overall revenues were near budget but a state PBRT adjustment and fee waivers reduced some receipts; staff estimated a conservative $1.8 million general fund surplus pending final audit.
Peoria County finance staff presented an unaudited FY24 year-end and an early January 2025 update to the Legislative Affairs Committee, saying total revenues across all county funds were 94.8% of budget and expenditures 74.1%.
Julie, a Peoria County staff member, told the committee the general fund was 98.8% received and 90.3% spent. "From a high level revenue across all funds, intergovernmental revenue, we have PBRT, which was below budget expectations by 15.5%, which is 7,700,000.0 received across all funds," Julie said, citing a state adjustment to correct an error in the PBRT formula. She said the general fund's share of that hit was $957,000 and the total across all funds was about $1.4 million less than planned for FY24.
The nut graf: the shortfall…
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