The Peoria County Board overwhelmingly approved a voluntary retirement plan and reduced work week for next year. The plan aims to help tackle a $3.5 million deficit next year.
Peoria County Board member Michael Phelan says the cost cutting measures are needed to reverse a financial trend. “Revenue growth is two-percent, and our expenditures are three-percent. That equates to roughly a million dollars this year, next year, the year after and ongoing if things don’t change.”
The County says the goal is to have 40 employees voluntarily retire, saving about $2 million. Officials have said nothing is off the table, including the possibility of layoffs, if the not enough people sign up.
The County is also planning on having an independent consultant looks for more ways to save money next spring.
In other business, the Board approved re-naming the Peoria County Jail the George P. Shadid Corrections Center.