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LaSalle County reports $7.8 million in funds; insurance transfers and new claims drive reserve changes
Summary
County finance staff reported a $7,798,622 fund balance on Jan. 31, 2025, with a one-time transfer and several insurance claims affecting reserves. The board approved monthly reports and requisitions, including an insurance deposit payment.
LaSalle County finance staff told the Board of Commissioners on Jan. 31 that the county's combined fund balance was $7,798,622 as of Jan. 31, 2025, a decline of $987,000 driven largely by insurance-related transfers and payments.
The report said $693,000 was moved out of a 2013 Schwab account to cover insurance premiums. County staff also described four requisitions this month that included two regular CCMSI payments, an ICRMT payment with a processing clarification, and a Nugent fee installment for March; the board approved the monthly reports and requisitions as presented.
Why it matters: insurance premiums, claim reserves and the timing of transfers can materially affect short-term county liquidity and future budget choices. The sheriff's office continues to show the highest share of both claim counts and incurred dollars in the county's liability and workers' compensation data.
During the report, finance staff identified a newly opened claim that increased reserves by about $44,000'$45,000 in the 2021-22 period and noted one closed ICRMT claim that produced a substantial reduction in reserves on that case. For the current policy period staff reported five new claims with a net increase in incurred costs of $7,834. In the property and casualty grouping, combined auto coverages totaled $210,368 across roughly 40 claims dating from 2019 through 2022.
The finance presenter said work-comp activity included new claims in the most recent reporting period totaling $4,850 and reiterated that the sheriff's department drives a large share of both claim frequency and incurred dollars across reporting years.
Board action: The board voted to accept the financial report and related requisitions; the motion to accept the reports carried with an affirmative voice vote.
