PEORIA, Ill. – The debate over how to fund Peoria’s police and fire pensions is over, for the moment.
The City Council Tuesday approved the next two years’ worth of budgets, and to fill a pension gap using $4 million in money left over from this year.
It’s not long-term, but District Four Council Member Andre Allen likes it.
“This is the right budget proposal for the right time,” said Allen. “Is it the most ideal? No. We know we have some long-term challenges facing our city. But it’s a great solution for where we are right now.”
At-Large Council Member Zach Oyler doesn’t like at all.
“That is a path to disaster if I’ve ever heard one before,” said Oyler. “This year’s revenue to pay next year’s bills.”
After allowing a special property tax to sunset this year, council members must now figure out how to pay pension obligations long-term.
Spending overall is $262 million next year, and $242 million the year after that. Three council members voted “no.” The hiring of 30 new police officers, and infrastructure projects delayed due to the pandemic are a part of the spending plans.
