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County acts on reappropriation, recorder s contract, flood district
Scott Cousins, scousins@thetelegraph.com
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EDWARDSVILLE Financial issues ranging from contracts to reappropriating funds from last year’s budget were dealt with at Wednesday’s regular Madison County Board meeting.
The board approved reappropriations of about $20.2 million in unspent monies from last year’s budget to the current budget.
Reappropriation is taking unspent money from the previous budget year and allowing it to be carried over to the next year. Much of the time it is for a specific project or program that are either multi-year, have been delayed, or have been completed but not paid for. This year’s budget is $143.8 million, a roughly $3.5 million increase over last year’s budget.
Joe Biden, the crazy uncle who escaped from the attic long enough to get himself elected, is proposing massive subsidies for Blue States that are circling the drain.
A major element of Biden s plan is a $400-per-month federal supplement to state unemployment payments, which will continue through September, a price tag of $350 billion.
Biden is also proposing $170 billion to assist in reopening schools and a $350 billion bailout of state and local governments. Biden has also called for raising the national minimum wage to $15 an hour.
In the State of Illinois, which is functionally bankrupt due to its lavish, gold-plated pensions for retired government employees, Ill. Gov. Jay Robert ‘J. B.’ Through his minions, Pritzker promises to increase the state income tax 20% now that voters have crushed his taxpayer theft amendment at the November polls. In addition, he is counting on Biden’s tax dollar giveaway.
Illinois Municipal CIO Shah to leave fund
Dhvani Shah
Dhvani Shah, chief investment officer of the Illinois Municipal Retirement Fund, Oak Brook, is leaving the $48.3 billion pension fund effective Dec. 28.
Ms. Shah, who joined IMRF in 2011, is leaving to become CIO of Deerfield Beach, Fla.-based JM Family Enterprises Inc.
Brian Collins, IMRF executive director, will serve as interim CIO until a permanent successor is named, a news release from IMRF said Tuesday.
The pension fund’s board will discuss a timeline for that search at its Dec. 18 meeting, the release said.
Christie Caliendo, JM Family spokeswoman, said in an email Ms. Shah will start her newly created position on Dec. 28. She will oversee the firm’s corporate investment portfolio, insurance reserves and pension and profit-sharing plans. Ms. Caliendo declined to provide the sizes of the asset pools.