LaSalle County Insurance Trust board reviews 2024 audit, fund balances and moves into executive session

Sandy Billard, a member of the LaSalle County Insurance Trust Board serving as acting chair, opened the board's April 17, 2025 meeting and asked for a motion to allow her to serve as chair for the session; the board approved the motion by voice vote.

The board heard a presentation of the trustaudit from Mac and Associates. Tanya, an auditor with Mac and Associates, told trustees "we did have a clean opinion this year." She summarized key figures in the 2024 financial statements and explained the year-to-year movement in assets, liabilities and transfers.

Tanya said cash and investments totaled $10,300,000 for the year compared with $12,000,000 the prior year and described an accounts receivable that appeared because a county transfer was routed to an account that had been closed and later reissued by the county. She reported accounts payable of about $15,000 (up from $8,000), claims payable of $62,000 (down from $90,000), accrued interest of $211,000 and long-term obligations of about $11,600,000 compared with $13,400,000 the prior year. On the statement of activities she described charges for services and investment income that together resulted in a net increase in net position of about $251,000 for the…