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Committee reviews long-term care fund balance, accounts payable and capital projects progress
Summary
County staff reported on the long-term care services fund and capital projects, noting a reported balance of $11,075,000 in the long-term care fund, $5 million in accounts payable paid in December and a final River City pay that was about $100,000 below the guaranteed maximum price; staff said outstanding health building invoices remain and a fuller report will follow.
County staff briefed the Finance, Audit and Legislative Affairs Committee on the long-term care services fund, recent accounts payable activity and progress on Peoria County capital projects.
On the long-term care services fund, Speaker 3 reported figures for November and said the county remains on track to retire related bonds when callable in 2032. The transcript contains an unclear interim figure; Speaker 3 then clarified, "It's 11,075,000, and we'll have a balance of about $1,000,000 in the fund to fund other long term care service k." The committee recorded that the bond-payoff plan remains unchanged.
Speaker 3 also reviewed accounts payable and purchase-card activity, noting that "there was $5,000,000 paid out in December '25," and offered committee members the AP reports for review. A member commented on heavy spending with Amazon.
On capital projects, Speaker 3 said the packet included an updated list of ongoing and recently completed projects, that fiscal 2024 items were removed from the current display, and that fiscal 2026 budgets and encumbrances were shown. Asked about the health building closeout, Speaker 3 said staff had not yet been invoiced for a couple of items and that final amounts were not available at the meeting. Regarding River City, Speaker 3 said the county "did the final pay for to River City, and that was about, just over a $100,000, less than the GMP."
Committee member Speaker 4 asked that staff add a calculation showing how much taxpayers would save by paying bonds 10 years early; Speaker 3 agreed that would be useful to include.
Next steps: staff will provide a more complete capital-projects closeout and health-building invoice reconciliation when outstanding invoices are posted and will include the requested bond-savings calculation.
