Finance & Audit - Public Meeting, 10-8-26

The McHenry County Finance & Audit Committee met on October 8, 2026, to review FY2026–27 budget and tax-levy planning. County counsel advised that a property-tax “look-back” method was not available under its reading of state law, while the committee awaited clarification from the Illinois Department of Revenue. Members discussed a projected $7.3 million general-fund gap, potential revenue and fund transfers—including $2.5 million in ARPA interest, $1.4 million from RTA funds, and additional court-fee, tourism-fee, ETSB chargeback, and Lake County jail-contract revenue—and concerns about maintaining the five-month reserve and funding future transportation projects. The committee approved a budget framework for staff to develop, including a $1.4 million RTA contribution and $2 million for senior services; the motion passed 4–1. This was direction for preparing the budget, not final county-board adoption.

Members also considered leasing capital projects—including HVAC replacement, a jail management system, security cameras, and firewalls—as a way to reduce current-year cash needs; staff estimated leasing could provide about $1.5 million in near-term savings under the discussed approach. No contract award or bid approval was made. The committee unanimously approved the remaining consent-calendar items, and dismissed Gamma Team Security Incorporated’s appeal because no representative appeared. The Treasurer reported that the county’s investment portfolio now includes about $11 million for ETSB, with more detailed reporting planned.