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Peoria financials: revenues down slightly versus budget but expenses under control, city says
Summary
Finance Director Kyle Crotty reported Sept. 30 unaudited financials showing revenues about 1.6% below budget (timing of state reimbursements cited), expenses below budget, and positive year‑over‑year revenue growth; council asked for clarifications on timing and specific fund balances.
Finance Director Kyle Crotty presented the unaudited month‑ended Sept. 30, 2025 financial report and answered council questions about the timing of receipts and fund balances.
Crotty told council revenues were down about 1.6% compared to the budget but up about 1.6% year‑over‑year. "The main driver... is really, when we get into this process during the budget, it's always a little difficult to have an assessment of when we're gonna receive our state grant reimbursements," he said. On the expense side, Crotty reported expenses were down about 3% versus budget and down 11.6% compared with last year, reflecting reduced ARPA spending.
Council pressed on year‑to‑date totals and on several funds showing negative balances; Crotty explained that state and local tax receipts are seasonal and that some large year‑end items (debt service, payroll accruals, and health‑care reimbursements) affect fourth‑quarter results. Council received and filed the report by unanimous vote.
Why it matters: The report provides a periodic check on revenue and expenditure trends and informs budgetary planning ahead of year end.
