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Treasurer reports March receipts down from 2024, details interest gains and nursing-home finances
Summary
County Treasurer Rebecca McNeil told the Finance Committee that March receipts and year‑to‑date receipts are lower than 2024, interest income improved versus prior low-rate years, and nursing‑home operations show revenue exceeding expenses year to date though operating cash was negative.
County Treasurer Rebecca McNeil told the Finance Committee on April 9 that March 2025 receipts totaled $1,355,000, a decline of $223,000 compared with March 2024, and that the county’s year‑to‑date receipts for the first three months were $4,137,000 compared with $4,608,000 for the same period in 2024.
McNeil said property‑tax‑related distributions known as PPRT were the area showing the largest decrease and noted that the Illinois Department of Revenue had previously communicated they did not expect distributions as high as in prior years. She said the county is about $162,000 under the current budget at the time of the report and will continue close monitoring.
McNeil described the county’s broader treasury position outside of property‑tax monies, reporting roughly $116.245 million in pooled county funds and $564,000 in interest earned through February. She compared recent interest income to prior years, saying interest revenue at current rates has materially exceeded the years when federal rates were near zero and noting she does not expect the higher rates to last indefinitely.
On the county nursing‑home finances, McNeil said February revenue totaled $817,009.75 (nursing‑home reporting is about one month behind). Year‑to‑date nursing‑home revenue reported was $1,720,000 with accumulated expenses of $1,406,000; receivables were reported at $4,897,000 and primary operating cash at negative $1,381,000. McNeil said year‑to‑date revenues exceed expenses but that accruals remain to be recorded.
McNeil also reported on the county’s self‑insurance plan (Blue Cross Blue Shield): first‑quarter expenses were $1,989,405 compared with $1,825,986 a year earlier, and the stop‑loss fee stood at $382,878.88; she said adjustments tied to claims may alter that position as the year progresses. McNeil said the county is under audit for 2024 and that final audited numbers may not be available for the June meeting, possibly delaying until July.
On ARPA funds, McNeil reminded the committee that the county received over $30 million in federal ARPA allocations and said the county has spent down most of that balance; transcript figures for the current ARPA balance were garbled and not reliably reported at the meeting. She also said interest earned on ARPA balances since 2020 was about $1.4 million and some of that interest has been transferred to the general fund to support operations.
Committee members asked clarifying questions about line‑item totals and the motor‑fuel entries in the packet; McNeil acknowledged a spreadsheet formula issue affecting a motor‑fuel total and said she would correct it. The committee voted to accept and place the Treasurer’s monthly financial reports on file.
