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Treasurer reports July receipts lagging, nursing-home losses and health-claims above 2024
Summary
County Treasurer Becky McNeil presented the monthly financial report showing July state revenues of $1.697 million, year-to-date receipts about $304,000 below 2024, and the county about $384,000 under budget. McNeil also reported nursing-home operating deficits through June and higher self-insured health claims year-to-date compared with 2024.
County Treasurer Becky McNeil told the Finance Committee on Aug. 6 that state revenue receipts for July totaled $1,697,000 and that year-to-date revenues were about $304,000 below the same point in 2024.
"So our revenue from the state of Illinois for the month of July was $1,697,000; the overall year to date, we are currently about 304,000 below where we were in 2024," McNeil said. She said the county's cash position was about $10,107,529, roughly $384,000 under the adopted budget, which she described as running about 3.7% under budget.
McNeil reported shared sales-tax receipts for July showed no payments from the Town of Normal or the City of Bloomington in that month, but she said she had received an email the same day indicating an incoming payment from the Town of Normal and that staff were investigating whether that deposit was an error. McNeil noted that shared-sales-tax distributions are generally three months behind the economic activity and that the county needs to confirm effective dates if municipalities change sharing arrangements.
On property taxes, McNeil said distributions reflected the first installment and that second-installment receipts typically arrive starting in late August and continue through October, with tax sales in November.
On investment earnings, McNeil reported accrued interest through July of $2,066,000; by comparison, 2024 interest was about $5.3 million. She said yields in 2025 have been running in the 3% to 4% range and she expected interest earnings to be "pretty good" for the year compared with 2024.
On the county's self-insured health plan, McNeil reported July claims of $621,740 and year-to-date claims of $4,911,000, which she said is $664,000 above 2024 year-to-date levels. She said the county had paid $894,000 toward stop-loss protection with a net adjustment credit of $136,000 so far this year.
McNeil also reviewed nursing-home financials through June, reporting June revenue of $746,997 and year-to-date revenue of $5,009,000. She said accumulated revenues were $5,040,000 and accumulated expenses $5,338,000, producing a negative $297,000. Receivables at June were $4,918,000 and cash was negative $1,744,887; fund equity was $1,209,489. McNeil cautioned that accrual and transfer entries could change those figures as staff complete reconciliations.
Committee members asked follow-up questions about the large May transfers that affected nursing-home equity and about the new school sales tax, which McNeil said the county is not involved in and which will be remitted directly to school districts through the Illinois Department of Revenue.
What remains open: McNeil said staff would follow up about the Town of Normal deposit and that final nursing-home figures could change as reconciliations are completed.
