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Peoria finance director outlines year-end results, seeks flexibility to delay bond sale until market improves
Summary
Finance Director Kyle Cratty presented the unaudited month-ended Dec. 31, 2025 report and a resolution to allow the city to reimburse capital expenditures from future bond proceeds; he said the city may delay issuance until late summer/early fall, is rated A2 with a positive outlook, and now expects to add about $1M to general-fund balance for 2025.
Finance Director Kyle Cratty told the Peoria City Council Feb. 24 that the city’s unaudited results for the year ended Dec. 31, 2025 show stronger-than-anticipated revenues and lower-than-expected expenses, shifting the city from a planned use of fund balance to a projected addition of roughly $1 million.
Cratty said the city had budgeted about $129 million in general-fund revenue but is tracking nearer $132 million, driven by stronger home-rule and state sales-tax collections and taxes on leased…
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