Auditor: Kane County Has Lowered General Bond Debt By More Than $72 Million
This is one of those stories that doesn’t get a lot of attention but probably should.
In a climate where government bond debt is going up up up in a lot of categories and at a lot of levels, Kane County has quietly and effectively reduced its general obligation bond and debt certificate balance by more than $78.2 million since 2009.
Those are some of the numbers presented in the quarterly audit report to the Kane County Finance and Budget Committee by Auditor Terry Hunt.
What does that budget reduction mean for the average Jane or Joe citizen? It’s simple, responsible financial practices by staff and commitment from policymakers, Hunt said.
“The cumulative effect of that commitment has allowed the county to continue to provide services to our community without increasing the aggregate tax levy on existing property for the past five years,” he said. “Reducing existing bond indebtedness has put Kane County on firm financial footing to meet the challenges that lie ahead.”
You can see Hunt’s full quarterly report on this agenda packet posted on the Kane County meeting portal website. For a deeper dive into Kane County’s finances, check out the Kane County OpenGov website.
Other Good News in Auditor’s Report
Another piece of good news that might have not been noticed in Hunt’s presentation was the fact that Kane County Animal Control is running in the black.
Animal Control is operating at a year-to-date excess of $222,000.
“The Animal Control Fund (Fund 290) has a fund balance of approximately $191,000, which demonstrates a continuation of the positive trend in that department,” Hunt’s report said.
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