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City treasurer says Peru has recovered from the recession

Posted by wlpo on February 12, 2013

          It may not look or feel much different, but the City of Peru is in a better place today than it was several years ago.

Gary Hylla is the city treasurer.  He says the general fund is returning to a surplus; though a lot of that money will be spent next year for infrastructure.  He says they are at the cusp of being self-sufficient for infrastructure needs.

Hylla says the fiscal year that ended in April 2012 was a decent year.  During that time, he says the city showed signs of having really recovered from the recession.  The city was also able to use money from the sale of the Mirror Building to pay off the debt from the new municipal building.

Hylla thinks this fiscal year will end even better because the hydroelectric plant is more profitable and the city’s expenses and revenue are under control.

The area of weakness he sees is the water and sewer funds.

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