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Peoria staff warn revenue growth has slowed; $3.3 million in ongoing capacity over five years
Summary
City staff told the City Council Nov. 18 that local sales‑tax growth has cooled, urban revenue sharing fell about $10 million year‑over‑year and the city projects roughly $3.3 million in ongoing general‑fund capacity across five years while keeping substantial one‑time reserves.
Peoria — At a Nov. 18 study session, city finance staff told the City Council that the local economy is still growing but tax revenue growth has slowed, leaving modest ongoing budget capacity as officials prepare the FY‑27 budget.
Deputy City Manager Kevin Burke said the presentation was intended to set the table for the next budget cycle and warned that “this year has proven very hard to really evaluate our current economic condition, let alone see into the future.” CFO Sean Kindel and Deputy Finance Director Peter presented state and local revenue data that underlie the city’s forecast.
The presenters highlighted three main local revenue…
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