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Finance committee reviews insurance‑trust payments, bond payoff options and requests actuary comparisons
Summary
Committee reviewed insurance‑trust activity, reported a large reinsurance payment and an initial principal payment on the 2019 bond; members requested comparisons of buying insurance on the open market versus using trust funds and discussed deposit/timing of planned receipts.
LaSalle County's Finance & TIF Committee spent a portion of its Feb. 3 meeting reviewing the county's insurance trust and long‑term bond obligations after an auditor's report showed large disbursements earlier in the year.
A committee member noted disbursements of about $12 million and receipts of roughly $9 million in the insurance trust fund and asked whether a bond payoff had occurred.…
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