October 26, 2023
Dear editor;
Overflowing reserves ($53MM); obstinant refusal to properly recognize and appropriately utilize interest income windfall ($14MM); constantly increasing share of state sales, income, gambling, and marijuana taxes increase (multi-millions); reprehensibly wasteful spending (at least $3MM); and even inaccurate redefinition of elementary generally accepted accounting procedures . . . are all not enough fiscal mismanagement for the (Democratic Party) ruling majority and its chairman to spare Kane County property taxpayers a shamefully unnecessary $2,800,000 increase in our property taxes.
The County Board and its current administration do not need more of your money to balance their FYE 11-30-2024 budget.
Their proposed property tax increase would transfer a total of $2.8MM from your families’ budgets to their overflowing coffers for the first time in 12 years . . . and for what improvement in services?
According to their own numbers, the Kane County Board has $53MM more in reserves than their own “proper standard” for contingency funds.
The Treasurer’s office has generated an additional $14MM in interest income earned on County cash balances more than budgeted due to Federal Reserve interest rate hikes and through diligence.
The chairman and her allies are trying to redefine basic accounting definitions and procedures to justify not using available resources such as excess interest income . . . only to gouge you for more property taxes, which are already driving tens of thousands of Illinois family members and neighbors to flee the State because they cannot afford to pay more.
I really don’t mean to be harsh, but when will these gluttonous politicians realize that enough is enough? Please stop!
Very sincerely,
Chris Lauzen, CPA, MBA, Kane County treasurer, Aurora