When the pandemic struck in March, Peoria council and budget officials leaned on the side of fiscal precaution, stalling any new hires and adopting a “baseline” budget for fiscal year 2021 that largely reverted to the ongoing spending levels of fiscal year 2020.
Since the spring, officials say reviews of the city’s economic activity have improved, with a reasonable recovery in critical areas, especially the city’s sales tax revenue.
Finance and Budget Deputy Director Barry Houg said since July, the city’s sales tax revenue each month has averaged 11% higher than the same month during the previous year.
