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County reports below‑budget first‑quarter revenues; staff flags tax‑settlement timing and grant rollovers
Summary
Peoria County staff told the committee March first‑quarter revenues were below typical 25% expectations across several funds and noted tax settlements expected in June, a digital equity grant rollover and an early contract reimbursement from the 4 Creeks Wind project.
County finance staff told the committee that, through March (the first quarter), countywide revenues were at 19.8% of expected annual revenues and expenditures were at 17.7% of budgeted amounts.
Shadi Lunden, presenting the quarterly report, said the general fund had received 19.3% of expected revenues and recorded 20.5% of expected expenditures. She told committee members to expect the first formal property‑tax settlement in June and the next Peoria Public Road Tax (PPRT) distribution in July, both of which could materially affect second‑quarter figures.
Lunden noted changes in revenue…
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