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Peoria County reports $3.2 million long-term care fund balance, projects $11 million by 2031
Summary
County finance staff reported a $3.2 million fund balance in the long-term care services fund as of December 2024 and forecasted roughly $11 million by 2031 under conservative assumptions; transfer amounts from the general fund remain unconfirmed pending year-end close.
Peoria County staff reported the long-term care services fund held $3,200,000 as of December 2024 and projected the fund could grow to about $11,000,000 by 2031 under conservative estimates.
Heather, staff member, presented the item and said the report was included in the meeting packet. "As of, December 2024, the fund balance was $3,200,000 in a long term care services fund report. Conservative estimates, we will have the 11,000,000, built up by 2031 at this 0.1 year before the, bonds are pullable," Heather said.
A board member asked about the transfer from the general fund; Heather said that number was not yet available and that staff would have a better idea after the fiscal year-close on March 14.
No formal action was taken; the item was presented as informational and staff invited questions from the committee.
