Peru treasurer “very optimistic” about new fiscal year finances

A sign of economic recovery in Peru- improved sales tax numbers.

City Treasurer Gary Hylla is preparing for the next fiscal years finances.  He’s given the council a proposed operating budget that includes trimming and could end with possible positive balances in the general and water and sewer enterprise funds if things continue to improve.

Hylla says he’s very optimistic.  He was budgeting a 4% increase in sales tax, though January’s numbers show an 8% improvement over the same time last year.  He thinks they hit bottom last October and notes that Peru went into the recession about six months behind the rest of the country.
The operating budget he’s proposed is different than an appropriations the city has used in past years.  He’s says the budget will be more accurate and doesn’t include the wish-list spending.

The council would need to approve it this month because fiscal year 2011 begins May 1.  If it isn’t approved by then, the city would work off of the appropriations for the first quarter while they approved a budget later.