Kankakee County Board Chairman Andy Wheeler says “there’s a long way to go,” but the county is at least on track to improving its bottom line.
A $2.5 million dollar loan from local banking institutions was approved by the Finance committee (Wed). The loan will help the county get to the next tax distribution date. They money will assure payrolls are met.
Wheeler said there are some expenses that have to be met, but the focus must be to get that bottom line right and restore some reserve cash.
Wheeler said there’s a $4 million deficit... and by year’s end here in 2018 that deficit may be about $2.5 or $3 million. Progress is being made, Wheeler said, but there’s still 3-4 years of hard work to make things more right.
Wheeler said the financial advisors agree, the county is on the right path.