City of Peoria - File #: 15-376

• File #: 15-376
• Version: 2
• Name: 2016 - 2017 Budget Resolution
• Type: Resolution
• Status: Deferred
• File created: 11/16/2015
• In control: City Council
• On agenda: 12/8/2015
• Final action: 12/8/2015
• Title: REPLACEMENT Communication from the City Manager and Finance Director/Comptroller with a Request to ADOPT a RESOLUTION Adopting the 2016 - 2017 BIENNIAL BUDGET for the City of Peoria.
• Indexes: Goal 1 - Financially Sound City , Goal 3 - Beautiful Peoria, Goal 4 - Grow Peoria, Have an efficient government., Invest in our infrastructure and transportation, Keep taxes and fees competitive, Reduce Crime, Reinvest in neighborhoods

Date	Ver.	Action By	Action	Result
12/8/2015	2	City Council	adopted	Pass
11/19/2015	1	City Council	deferred	Pass

ACTION REQUESTED:
Title
REPLACEMENT Communication from the City Manager and Finance Director/Comptroller with a Request to ADOPT a RESOLUTION Adopting the 2016 - 2017 BIENNIAL BUDGET for the City of Peoria.
Body
BACKGROUND: The attached resolution adopts the 2016 - 2017 Biennial Budget of the City of Peoria for the fiscal years 2016 and 2017 and the Five-Year Community Investment Plan 2016 - 2020. The first two years of the Community Investment Plan are the capital budget and are included in the proposed 2016 - 2017 Biennial Budget.

The total 2016 - 2017 Biennial Budget for the Fiscal Year 2016 is $185,356,415 which consist of the following:

City Library Total
Operations $138,141,997 $6,450,521 $144,592,518
Capital $ 20,038,000 $ -0- $ 20,038,000
Debt Service $ 20,725,897 $ -0- $ 20,725,897

Total $178,905,894 $6,450,521 $185,356,415

The total 2016 - 2017 Biennial; Budget for the Fiscal Year 2017 is $199,587,293 which consist of the following:
City Library Total
Operations $143,170,659 $6,556,103 $149,726,762
Capital $ 28,879,113 $ -0- $ 28,879,113
Debt Service $ 20,981,418 $ -0- $ 20,981,418

Total $193,031,190 $6,556,103 $199,587,293

Also included as an attachment are the proposed revision to the Financial Policies of the City of Peoria to include the Council's restriction of an amount equal to 25% of the Hotel Tax collected for infrastructure projects within the City's right-of-ways and the establishment of a Road and Bridge tax levy.

FINANCIAL IMPACT: Fiscal Year 2016 budgeted expenditures of $185,356,415 and budgeted revenues of $188,257,022. Fiscal Year 2017 budgeted expenditures of $199,587,293 and budgeted revenues of $200,830,530.

NEIGHBORHOOD CONCERNS: During the Budget Hearing held on November 10, 2015, a concerned citizen addressed Council regarding the snow removal ordinance and the removal of snow fro...