ACTION REQUESTED:
Title
Communication from the City Manager and Finance Director with a Request to RECEIVE and FILE the CIVIC CENTER 2022 BUDGET.
Body
BACKGROUND: The Peoria Civic Center Authority Board adopted the attached budget. The City Council is requested to review and receive and file this budget.
FINANCIAL IMPACT: The Civic Center has borrowed $4 million from the City for cash flow purposes. These funds will be repaid in their entirety once the Civic Center debt service has been exhausted in 2027.
NEIGHBORHOOD CONCERNS: NA
IMPACT IF APPROVED: The budget will be received and filed.
IMPACT IF DENIED: The budget will not be received and filed.
ALTERNATIVES: NA
EEO CERTIFICATION NUMBER:
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL’S 2017 - 2032 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Financially Sound City
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Have an efficient government.
DEPARTMENT: City Manager's Office