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Treasurer Jim says county revenue and investments look strong; $30 million distribution made July 6
Summary
LaSalle County Treasurer reported positive returns across funds, a $30,000,000 first tax distribution on July 6 and investment renewals averaging about 4% as the county moves through its budget cycle.
Treasurer Jim told the Taxing Taxes Election GIS Committee that county revenue trends are positive and that the county made a $30,000,000 distribution on July 6 with further distributions scheduled every 30 days.
"With July, we're we're up 6 point well, 6.5 percent," Jim said, noting the month represented roughly a $24,000 increase and that the county has seen positive returns for the past 12 months. He reported $148,000,000 had been collected so far and that mobile-home collections remain lower historically ("we're at 98,000, and the total due was a 118,000").
On investments, Jim said a $1,000,000 instrument matured on the 19th and was renewed for one year at 4%. "I was able to negotiate a 1 year at 4% for that 1," he said, adding that the county's average yield across funds is "just a little bit under 4%."
The treasurer also flagged an upcoming surplus auction in the first week of September and said staff will monitor bid timing and booking. He acknowledged a recent change in state law on tax sales and said staff will seek clarification at an end-of-August convention about how post-tax-deed gains will be handled for original owners.
The committee took the treasurer's report and approved related motions to place the report on file and to pay bills; the treasurer's budget was also forwarded to finance by roll call.
The committee did not change policy at the meeting; members asked for follow-up briefings when the county has clearer guidance on administration of the new tax-sale law.
