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Peru Treasurer talks numbers

Posted by wlpo on September 10, 2009

Times are tough, even for the City of Peru, where the treasurer is keeping close tabs on money going in and going out and sales tax revenue. Still, treasure Gary Hyla says the city isn’t in a death spiral when it comes to tax flow, things are just tight.
Hyla explained the status of sales tax dollars and several other revenues and expenses with the board during an informal city council meeting Wednesday night. Using figures spanning 2004 to what’s been budgeted for 2010, Hyla says sales tax had been steady. They plan to bring in 356 thousand less in 2010 than in 2009 though.
An area that concerns Hyla is employee compensation, which includes wages and pensions. It’s the city’s second largest expense and it’s only growing more expensive. They plan to pay 6.8 million dollars out of the fund in 2010, an amount that for the most part has been steadily increasing.
When it comes to having cash, Hyla says they’ve been lucky that the first quarter hasn’t had any unknown expenses but he thinks that is likely to change as they go through the fiscal year.
Hyla plans to go over other financial numbers during the next informal, two weeks from last night.

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