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County treasurer says collections are steady, flags rise in returned payments ahead of large tax distribution
Summary
Stephenson County's treasurer told the Administration and Legal Affairs Committee that year-to-date property-tax collections are about $4.7 million, investments produced roughly $37,000 in interest and returned/NSF or rejected EFT payments are up (about $135,000), as the county prepares for a first property-tax distribution expected the following Monday.
Stephenson County's treasurer told the Administration and Legal Affairs Committee on July 8 that overall revenue performance is steady but staff are watching an uptick in returned and rejected electronic payments that is increasing administrative work.
"We're still up compared to last year, and currently through June, we've collected 4,700,000," the county treasurer said, adding that investments maturing in June yielded about $37,000 in interest. The treasurer noted a prepayment of $1,000 to Village Voices to reserve publishing space and the one-time purchase of replacement barcode scanners used to process roughly 52,000 tax bills.
Why it matters: the treasurer said a large property-tax distribution the county clerk has scheduled and extended — approximately $94,190,000 in total receipts for the period — is expected to begin on Monday; the treasurer anticipates distributing roughly $51,000,000 and said the county government should receive at least $5.5 million of that across 13 funds.
The treasurer also called attention to operational friction from returned payments. "An issue that has increased in frequency compared to previous years is I've been getting a lot more NSFs and rejected EFT payments," the treasurer said, estimating cumulative returned amounts around $135,000 for the year. The treasurer said most payers eventually make good on balances but that reversals require staff to back out payments and subtract them from distributions, which consumes time and coordination with banks.
On investments and cash flow, the treasurer said 15 investments remain in place across nine funds and that additional investment placements will be timed after the property-tax receipts arrive so the office can invest a larger amount while keeping cash-flow flexibility.
Committee members asked about preventative measures for rejected payments; the treasurer said remedies are largely punitive (assessed fees) and involve administrative follow-up with payers and banks rather than a simple technical fix.
No formal action was required on the treasurer report. The treasurer concluded by saying the overall picture is positive: "It's kind of a no-news-is-good-news situation," and that staff will continue to monitor returned payments as the large distribution is processed.
The committee moved on to subsequent agenda items; the treasurer's report will inform distribution timing and the office's investment and reconciliation work in the coming days.
