Peoria faces budget deficit for 2014 and 2015
PEORIA -- City leaders in Peoria say the central Illinois community will likely face a multimillion budget deficit during the next two years and they hope to spend the next several months working to address the problem.
City Manager Patrick Urich says the 2014 deficit is expected to be $3.1 million, a figure that will likely grow to $3.6 million in 2015.
He blames the problems on slow economic growth, rising health insurance costs and increases in the city's pension obligations.
The city council passed a balance budget last year after years of deficits. Authorities say they'll spend the next several months working to balance the upcoming budget.
Authorities hope to have a budget approved by late October.
- Share Facebook Twitter
Article sent to (required)E-mail
Article sent from (required)E-mail Name
Subject Line (article title)
Message (optional)Success - Article sent Click to close
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.Need more information about reprints? Visit our Reprints Section for more details.
Contact information ( * required )Name * Company Telephone * E-mail *
Article InformationTitle URL
Message (optional)Success - Reprint request sent Click to close