WORKING FOR TAX SAVINGS, NOT PAY RAISES
Recently, I woke up to an article headlined, “Kane treasurer, county clerk pay bump fails,” as if any elected officials’ not getting raises merits front page coverage.
It is an enormous privilege for me to use 50 years of accounting, finance and public policy skills to serve you. I did not run and do not serve as treasurer for the salary.
The real compensation for my work on your behalf is pushing back against constant increases in our taxes.
When I served you for 20 years in the Illinois Senate, I consistently argued and voted against tax increases.
As elected Kane County Board chairman, I led the successful efforts to freeze the county property levy for all eight years, produced surpluses every year, reduced public debt by 70%, fully funded pension obligations without reducing benefits and left $350 million in cash balances when I stepped away.
As a private citizen, when I saw the current county administration was earning less than one-half of one percent annual interest income on that $350 million, I ran for county treasurer and you elected me. Now, rather than earning $2 million in annual interest income as the board expected, we are earning $20 million (10 times more than expected!).
Earning and using this massive amount of interest income is a potential alternative to the board voting to raise your taxes. This is what the treasurer’s office is doing to hold the line on property taxes. When banks pay more interest on cash balances, taxpayers should be able to pay less for county expenses.
My favorite book as a boy was ‘Winnie the Pooh’ where A.A. Milne wrote, “Piglet noticed that even though he had a Very Small Heart, it could hold a rather large amount of Gratitude.”
I am deeply grateful for the opportunity to serve you.
Christopher J. Lauzen, Kane County Treasurer
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