LaSalle County trustees on the meeting record reviewed the county’s year-end bond and insurance-trust reports and were told the trust’s invested portfolio stands at roughly $6.6 million and covers upcoming principal, interest and claim needs only with a modest shortfall.

Philip Slevin, a financial presenter identified during the meeting, told trustees the portfolio’s cash-basis return for the fiscal year was about 4.06%, yield-to-maturity about 3.56% and portfolio duration about 1.59. He said the investments include treasuries, municipal bonds, certificates of deposit and money-market funds and that roughly $2.3 million in maturities will convert to cash in 2026, a figure he called an appropriate planning target for next year’s withdrawals.

The presentation and packet material contrasted the hypothetical cost of buying standard insurance over 25 years with the county’s current self-insurance/deductible approach. The presenters highlighted large, approximate comparative figures shown in the packet — a projected $56.6 million in standard-insurance costs versus roughly $27.4 million actually spent using the trust model — and cautioned those totals were approximations prepared for discussion.

Mister Rossetti (as recorded in the meeting packet) and Slevin said the trust’s recent good investment performance has narrowed a prior larger shortfall; Slevin and Rossetti said trustees should expect an actuary’s formal report in January that will estimate (1) how much the trust needs to meet bond maturities and (2) what a 10‑year refunding would cost. Based on current assumptions, presenters estimated a remaining funding gap in the range of about $3 million to $3.5 million if the county wanted to fully fund the trust through the bonds’ maturity.

Mike Nugent, who provided historical claims data to the actuary, and Melissa, who distributed the packet, were identified as staff contacts during the presentation. Steve Glickman was identified in the packet as the actuary who will deliver the January analysis.

Trustees moved to place the bond reports on file; the motion carried. No formal changes to levy or funding were made at the meeting. The trustees were advised to await the actuary’s January report before deciding on refunding or additional levies.

The packet and presenters also addressed practical considerations for calling bonds early: presenters said early payoff reduces future interest but requires principal buyout under the fund documents, and any early-call savings would need to be quantified against the buyout cost before the board acted.