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Peoria staff present $1.17 billion FY2026 budget; council timeline set for May tentative adoption
Summary
City staff told the Peoria City Council at a study session that the FY2026 proposed budget totals $1.17 billion, with a $550 million capital program and a $478.2 million operating plan. Staff outlined a May tentative adoption schedule and said council review and fee adjustments will follow before final adoption in June.
City staff presented a proposed $1.17 billion fiscal 2026 budget to the Peoria City Council at a study session, saying they expect to bring a tentative budget to the council for adoption in May and finalize taxes and utility rates in June.
The proposed total for FY2026 is $1,170,000,000; staff said $550,200,000 (about 47%) is the capital program and $478,200,000 (about 41%) is the operating budget. Debt service and contingency make up the remaining amounts, and the capital program carries over a large share of previously authorized projects.
Why it matters: staff said the schedule is intended to meet state deadlines and allow the city to complete tentative adoption at the May 6 council meeting, hold required public hearings on utility rates and truth-in-taxation, and adopt property taxes in June so the fiscal year can start July 1.
Staff framed the budget as balanced and…
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