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Lake County Council presses auditor office after PTRC accounting error, votes to seek joint session with commissioners
Summary
Council members heard testimony from an auditor contractor that PTRC (property tax replacement credit) balances were overstated in county accounting and voted unanimously to request a joint executive session with county commissioners to review controls and next steps.
The Lake County Council on March 10 pressed county financial staff and an outside contractor for answers after a multi‑year accounting error led to smaller property tax replacement credits this year.
The council called auditor contractor Mike Weiser to the podium to explain a discrepancy the State Board of Accounts flagged in 2023. According to Weiser, the county’s PTRC fund balance recorded in the financial system was inflated and an annual transfer step that should have moved funds from the PTRC account to the treasurer was missed for several years. "They used 49 million, I think, instead of a figure of about 24 million," Weiser said, describing how an overstated balance flowed into the tax‑bill calculations.
Weiser told the council the error emerged during reconciliation after the county…
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