Peoria County Board Chairman William (Bill) Prather called me Monday to inform me that for health reasons, he will not run for reelection at our Full Board Meeting Monday December 1, at 6:00. I had previously announced I would not run for a third term as Vice-Chairman. These two Chairmanship office positions will be determined next Monday evening. I understand Bob Baietto, a Republican and Tom O'Neill, a Democrat are interested in the Chairman's position. While the VC is often considered merely a title, I did conduct four full board county meetings and four Executive Meetings. The VC is automatically a member of the Executive Committee.
Mr. Prather continued all of our county board goals, the major one being a "Financially Solvent County Government". We estimate ending 2008 with a fund balance of $53 million plus and we estimate the ending fund balance in 2009 to be $69million plus.
When I was first elected to the board in 2000, we had a negative fund balance.
Why so much in our fund balance? These funds, all in balance this year, are sometimes known as "rainy day" funds. An amount is mandated by the state to be held in reserve. Our surplus is well over the mandated figure.
It is a general board opinion that Mr. Prather was a very good board chair and if health permitted, would have been reelected for another term. He will remain on the board for at least the next two years of his term.