County treasurer presents monthly financials; board approves property conveyance and tax-sale cancellations

McLean County Treasurer Becky McNeil told the Finance Committee on Sept. 3 that the county’s cash and investment position totaled about $121.8 million (accrued interest through July) and reviewed month-to-date and year-to-date figures for the county nursing home, self-insured Blue Cross Blue Shield expenses, and fund equity adjustments related to a 2024 audit entry.

McNeil said the Illinois Funds rate for the county’s liquid assets was 4.44% in August and that treasuries were down slightly. She reported nursing-home year-to-date revenue and transfers at $5,997,004 and year-to-date expenses and transfers out at $6,021,008.37, leaving expenses exceeding revenues by about $24,004; outstanding receivables were $4,865,001.31, down roughly $301,000 from the start of the year. McNeil said the county auditor made an entry on Aug. 16 to increase the bad-debt reserve from $2,872,000 to $3,310,000, which drew down beginning fund equity.

She also summarized the county’s self-insured health plan claims through August (about $5.59 million, roughly $759,000 higher than the same month last year) and said a fuller tax-revenue summary would be presented next month because staff were completing August entries while pulling in second-installment property taxes.

Committee action: The committee approved by voice vote a series of treasurer resolutions put on the consent agenda: a resolution authorizing the county board chair to execute deeds of conveyance and reconveyance, two resolutions authorizing cancelation of mobile-home tax-sale certificates of purchase, and acceptance and placement on file of the county treasurer’s monthly financial reports. Motions and seconds recorded in the transcript included a motion by Member Leffler with a second by Member Clouse for the initial consent items and separate motions recorded for the deed and reconveyance items; all were carried by voice vote.

Clarifications given during committee discussion: McNeil explained that some nursing-home revenue includes intergovernmental transfers (IGT) from the State of Illinois and occasional incentive payments; she said some accrued interest and August entries will be recorded later as staff finish processing the second-installment tax collections. She also described the makeup of nursing-home revenue (Medicaid, private pay, VA, Medicare and smaller miscellaneous revenues).

Ending: The committee accepted the treasurer's reports for auditing and filing and approved the listed conveyance and cancellation resolutions; McNeil said staff will continue processing tax collections over the next two weeks and will present a fuller financial picture at the next meeting.