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Finance committee reviews bank-account list and monthly reports; committee approves claims
Summary
Committee members asked for account-type details, last-three digits on account listings and monthly draft and final budget-vs.-actual reports; members approved claims by roll call.
The Iroquois County finance committee reviewed a list of county bank accounts and budget-vs.-actual reports and directed staff to provide additional detail (account type, current interest rate where applicable and the last three digits of account numbers) and to send draft reports in advance of upcoming committee meetings.
Jill, county finance staff, told the committee she had emailed budget-versus-actual spreadsheets and made hard copies for members. She pointed to a multi-year summary that showed general fund overages rolled into fund balance: "For 2022, there was $1,400,000 that was either brought in additionally above for revenues or not used by each department. In 2023, it was $572,000, and in 2024, it was $562,000," she said, adding that department-level operating reports can be provided to show where balances occurred.
Board members asked that the accounts list include the type of each account (demand deposit, money market or CD), the current interest rate if applicable, and the last three digits. Committee members also requested monthly draft reports as soon as they are available during the month and final reports for board packets; finance staff said drafts and a labeled "draft" balance report can be shared when month-close data are available.
Members questioned several line items on the revenue sheet and urged closer monitoring of sales tax and video gaming receipts. A committee member asked whether the video gaming figure of roughly $4.4 million in the distributed report was correct (the report timestamp was November); finance staff said she would verify and correct account-grouping issues such as motor fuel tax being posted to the wrong account.
The committee moved to approve county claims. A motion and second were recorded and the committee took a roll-call vote; the clerk called votes in sequence and the motion carried. The transcript records the roll call but does not include full names for every vote, and the finance office confirmed the claims list was approved by the committee.
Why this matters: Transparent, timely financial reporting and clear account labeling help board members and the public monitor revenues and control budget amendments. The committee emphasized avoiding frequent midyear budget amendments unless necessary.
What—s next: Finance staff will add account types, short account identifiers, and current rates to the accounts list; provide monthly drafts and final reports when available; and verify video gaming and other revenue-grouping figures.
