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Peru budget includes surplus

Posted by wlpo on April 9, 2012

You give money to Peru every time you shop in town and if you live there, when you pay your property taxes.  The tentative budget for the next fiscal year tells you where that money will be spent.

Treasurer Gary Hylla explained it Monday night.  He says city-wide the budge will be fine.  The budget is in the black and includes a surplus of $3.6 million.  Hylla says that’s because it includes the money they borrowed for the streets and infrastructure project.

Sales tax is the largest money maker for the City of Peru.  The one percent municipal tax one percent home rule tax that goes towards the Peru School District and infrastructure improvements are expected to collect $9.1 million.

Where will that money be spent?  The largest expense is the police department.  It’s followed by the annual street project and street department expenses.

A final draft of the budget will be approved later this month.  Their new fiscal year begins May 1.

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