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West Central Reporter

Sunday, April 28, 2024

McDonough County economy showing signs of recovery

Money

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Pixabay

McDonough County reports losses this year in overall county sales tax totals show the county is slowly regaining its economic footing.

McDonough County Board chairman, Scott Schwerer, told the McDonough County Voice that general sales tax is down $66,000, sales tax allocation for public safety is down $39,000, and sales tax allocation for road repairs is down $19,000.

Schwerer also told the Board that there is some good news. July sales tax figures report general sales tax up by $5,154, public safety sales tax up by $1,171, and the road repair tax up by $586.

The Board voted to accept the 2019 external audit of the county as presented. The audit revealed the county holding $14 million in restricted assets and $1.6 million in unrestricted assets.

Meghan Cochran of the Springfield firm Sikich, said the county's general fund gained $400,000, more than it had in 2018. Despite this gain, The Elms Nursing Home incurred a loss of $390,000. The county employee health insurance fund collected more than $2 million in income.

In the county's re-insurance contract with Symetra, the Board voted to maintain the stop-loss amount at $90,000. Keith Krohe, insurance consultant, said the self-insurance plan would pay $2.8 million in annual claims but would also have $2.7 million in reserve.

The board also approved a resolution to award $14,000 to Emergency Services director Edgar Rodriguez for the additional time worked due to the pandemic. 

The county's disaster area declaration will be extended through Nov. 20, so that the county can continue to receive reimbursement for COVID-19 related expenses.

McDonough District Hospital presented a financial report which concluded that the hospital maintains 48 patient beds, employs 421 people, and contributes $7.5 million in community care at no charge. Bill Murdock, MDH chief financial officer, said most of the outpatient revenue disappeared because of the pandemic but it is slowly being rebuilt. The hospital also has cash in reserve. 

The hospital is looking to fill gaps in the orthopedics and neurology departments. It can take two years between the time a physician is recruited and actually begins working at MDH.

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