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Union County announces a transfer to bring their balance sheet to a zero level

Dec 05, 2012 -- 12:44pm

 

The Union County Illinois Board of Commissioners announced this week they have transferred 313-thousand-dollars from their general fund to their tort fund to pay off all prior debt.  This brings the county’s balance sheets to zero, a full year ahead of the original plan.  At its highest point, the county’s obligations hit 1-point-2-million-dollars due to prior boards’ deficit spending practices.  This threatened the county’s ability to operate under state law.  County Treasurer Darren Bailey tells KZIM KSIM paying off these bills helps them look to the future.  Bailey says the board of commissioners will jump from three to five members starting in 2013 so this will allow a large body more flexibility to plan for the future.  Bailey praised current board chairman Randy Lambdin’s foresight to pay this off a year ahead of schedule and a cash flow surplus allowed them to get to a zero balance. 

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