finance

Peoria expecting ‘cautious’ budget next fiscal year

Projections show little to no sales tax growth in fiscal year 2025

Deputy City Manager Kevin Burke discusses the upcoming budget at the Nov. 14 Peoria City Council study session.

Screenshot

With revenue growth slowing significantly, Peoria residents should expect a very conservative budget for the next fiscal year.

Deputy City Manager Kevin Burke said the city will be taking a “cautious approach” on the fiscal year 2025 budget, which will be completed by summer.

As budget planning continues, the city will need to be careful about adding new ongoing costs, but is pretty healthy on one-time revenues, he said.

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