City of Peoria - File #: 19-338

• File #: 19-338
• Version: 1
• Name: 2020-2021 Biennial Budget Resolution
• Type: Action Item
• Status: Approved
• File created: 10/28/2019
• In control: City Council
• On agenda: 11/5/2019
• Final action: 11/5/2019
• Title: Communication from the City Manager and Finance Director/Comptroller with a Request to ADOPT a RESOLUTION Adopting the 2020-2021 BIENNIAL BUDGET for the City of Peoria.
• Indexes: Goal 1 - Financially Sound City , Goal 2 - Safe Peoria, Goal 3 - Beautiful Peoria, Goal 4 - Grow Peoria, Grow employers and jobs., Have an efficient government., Improve Peoria Public Schools, Invest in our infrastructure and transportation, Keep taxes and fees competitive, Reduce Crime, Reinvest in neighborhoods, Support sustainability

Date	Ver.	Action By	Action	Result
11/5/2019	1	City Council	approved	Pass
11/5/2019	1	City Council	approved as amended	Pass
11/5/2019	1	City Council	adopted	Pass

ACTION REQUESTED:
Title
Communication from the City Manager and Finance Director/Comptroller with a Request to ADOPT a RESOLUTION Adopting the 2020-2021 BIENNIAL BUDGET for the City of Peoria.

Body
BACKGROUND: The attached resolution adopts the 2020-2021 Biennial Budget of the City of Peoria fir the fiscal years 2020 and 2021 and the Five-Year Community Investment Plan 2020-2024. The first two years of the Community Investment Plan are the capital budget and are included in the proposed 2020-2021 Biennial Budget.

The total 2020-2021 Biennial Budget for the Fiscal Year 2020 is $217,971,228 which consist of the following:


City
Library
Total
Operations
$152,226,729
$6,334,847
$158,561,576
Capital
$39,291,126
$-0-
$39,291,126
Debt Service
$20,118,526
$-0-
$20,118,526
Total
$211,636,381
$6,334,847
$217,971,228

The total 2020-2021 Biennial Budget for the Fiscal Year 2021 is $219,384,586 which consist of the following:


City
Library
Total
Operations
$156,891,220
$6,370,117
$163,261,337
Capital
$36,907,382
$-0-
$36,907,382
Debt Service
$19,215,867
$-0-
$19,215,867
Total
$213,014,469
$6,370,117
$219,384,586


FINANCIAL IMPACT: Fiscal year 2020 budgeted expenditures of $217,971,228 and budgeted revenues of $217,738,521. Fiscal year 2021 budgeted expenditures of $219,384,586 and budgeted revenues of $223,382,941

NEIGHBORHOOD CONCERNS: Citizens concerns were expressed at the Budget Hearing on October 22, 2019. Citizens' feedback from two citizens' budget meetings, as well as the Peoria Budget Challenge and the online idea generation tool called Shape Peoria's Strategic Direction have been presented to Council.

IMPACT IF APPROVED: The City's 2020-2021 Biennial Budget would be adopted in compliance with statutory requirements.

IMPACT IF DENIED: The City would fail to meet statutory requirements for adopting the City's biennial budget and would result in the inability to levy property taxes foregoing $27,057,301 in property tax revenue.

ALTERNATIVES: N/A

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