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Midyear review: Streator reports stronger sales-tax receipts and improving pension funding
Summary
City auditors presented a midyear financial review showing higher-than-expected sales-tax receipts, stronger ambulance-billing revenue, and improved pension funding percentages for police and fire; staff cautioned that some revenues (property taxes, hotel/motel) are subject to timing.
City finance reviewers presented a midyear fiscal review showing generally favorable finances through the first six months of the fiscal year.
Presenter Steve Lickow of Letterbeck and Ammon, LLC told the council that the draft audit for fiscal 2024 appears generally favorable, with governmental funds showing aggregate increases and proprietary funds (sewer, solid waste, golf course) also up in net position. Pension funding ratios continued to rise: police funding exceeded 51% and fire funding exceeded 41%.
Lickow highl…
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