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Treasurer reports modest revenue dip, details investment laddering and mobile-home bill mailing
Summary
The treasurer reported rolling 12-month collections were down about 2% and described investment placements (general fund CDs near 4.6%, public safety CDs 4.2'4.42%), and said roughly 1,800 mobile-home bills would be mailed the same day.
The treasurer told the committee February collections were down about 2% and that the rolling 12-month total would be lower than the previous 12-month period. "There's not much we can do about that," the treasurer said, noting changes reflect how much money people are spending.
On investments, the treasurer said the general fund portfolio is earning about 4.6% and that bond (201) funds were yielding about 4.25%. Public-safety CDs were earning roughly 4.2'4.42 percent, and the treasurer said the office is laddering certificates of deposit with maturities at 12'18 months and some longer placements where yields approached 4%. The office also uses an Illinois Funds money-market account for liquidity; that account recently yielded about 5%, the treasurer said.
The treasurer said mobile-home tax bills were ready and that approximately 1,800 of those bills would be mailed that day. The committee discussed tax-sale collections and net collections; the treasurer said tax-sale proceeds and timing vary depending on trustee actions and that penalties and interest are collected when funds are recovered.
Committee members asked whether the office invests in U.S. Treasuries; the treasurer said the office prefers the predictability of CDs and manages liquidity with the Illinois Funds money-market.
The treasurer's report was accepted and the committee authorized payment of the bills.
