The lack of available cash-flow leaves the Kankakee County Board with little leeway except to borrow from its own budget.
Borrowing from its own funds has been a practice for years. It’s not looked upon as way to do business. But when monies aren’t there, there’s few options, according to the Board’s Vice-Chairman. Steve Lehr says with no cash reserves, we have no option but to borrow from one fund to another. Lehr said we have to meet everyday expenses.
He said until we have some reserves, we’ll have to continue to borrow from other funds.
The Board voted to continue the borrowing practice. The Board also approved a $2.5 million loan to carry the county to the next tax distribution date.