East Central Reporter

A recent debate has emerged in Shelby County regarding the investment practices of the county treasurer and allegations of nepotism. A group of citizens is advocating for the county funds to be invested in the Illinois Fund, arguing that it would yield higher interest than local banks currently offer. Additionally, there are concerns about potential conflicts of interest due to the treasurer's father being on the board of one of these banks.

However, it has been clarified that the banks used by Shelby County were chosen before the current treasurer took office. "The allegations of some malfeasance due to her father’s position on a bank is simply unfounded," stated a source familiar with the situation.

There is a division among citizens and board members about whether better investment opportunities have been missed. Some argue that despite substantial earnings reported under the current treasurer, alternative investments might have generated more income.

A comparison to the classic movie "It’s A Wonderful Life" has been drawn, questioning what impact moving county funds out of local banks would have on local lending and banking services. According to a former Credit Union Manager, such actions could significantly affect local banking operations.

Despite calls for change from some quarters, no issues have been highlighted in audits of the Treasurer's office. The treasurer herself requested a forensic audit and a no-confidence vote, but neither was pursued by the county board.

Critics suggest that instead of intervening in departmental operations, board members should focus on their statutory duties as outlined in 55 ILCS 5/3-10018: "It shall be the duty of the county board, at least once every six months, to examine the books of account of the treasurer..."

As discussions continue, questions remain about where responsibilities lie between maintaining financial oversight and allowing elected officials autonomy in managing their offices.