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Peru City Treasurer wants more sales tax revenue

Posted by wlpo on April 3, 2014

Running a city the size of Peru is going to cost roughly $50 million between May and next April. It is budget season and Treasurer Gary Hylla says the budget, general fund included, looks good but he says the sales tax revenue hasn’t completely recovered from the recession and operation costs are growing faster than sales tax revenues.

Hylla explained the Fiscal Year 2015 budget to the city council Wednesday night. He wants to see a larger growth in sales tax or they’ll need another source of revenue which would be property tax.  Hylla says pensions are a big cost but the city is having no problem meeting the required payments.

The electric light fund is strong, so strong that Hylla would like to put some of it into secure investments. He says he doesn’t want to move the money to another fund because they would need that money to repair or replace electrical infrastructure if there were a disaster.

The budget still needs to be approved by the council.

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