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Peoria finance director: December 2024 unaudited report shows revenue dip, cash flow dip from bond payments; audit to begin in February
Summary
Finance Director Kyle Crotty told the Peoria City Council that general fund revenues on the city’s Dec. 31, 2024 unaudited report are down 13.8% and that the city experienced a cash‑flow dip in December largely because of $15–$17 million in bond principal payments.
The Peoria City Council heard details of the city’s month‑ended Dec. 31, 2024 unaudited financial report and asked questions about revenue trends, accounting methods and the potential impact of state budget pressures.
Finance Director Kyle Crotty told the council the report in the packet covers Dec. 31, 2024 and that the figures are not final. “There are additional revenues and, to a lesser extent, some potentially additional expenses that will come in as we start preparing for our audit,” Crotty said. He said the city’s audit will begin in February and will be “kicking off heavily in March,” with a relatively finalized 2024 number anticipated in April.
Crotty said general fund revenues shown on the…
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