The LaSalle County Trust Committee convened on May 16, 2025, to address several key agenda items, including the cancellation of the industrial appraisal agreement and financial reports.

The meeting began with a brief discussion confirming that there would be no mid-year changes to the insurance premium, ensuring automatic coverage continuity. Following this, the committee turned its attention to the industrial appraisal agreement, which was deemed unnecessary due to overlapping services provided by the Illinois Counties Risk Management Trust (ICRMT).

Mike, a committee member, explained that the industrial appraisal services were previously utilized for insurance appraisals and fixed asset calculations. However, with ICRMT now providing these services, the committee concluded that the industrial appraisal agreement was duplicative. The annual cost for these services was approximately $34,000, which included separate charges for insurance and asset reports.

The committee sought to formalize the cancellation process, noting that the original agreement required full board approval for termination. After thorough discussions and assurances from both internal and external auditors that the services were no longer needed, a motion was made to recommend the cancellation of the industrial appraisal agreement to the full County Board. The motion received unanimous support from the committee members present.

In addition to the appraisal discussion, the finance report indicated a decrease in balances by $165,337 due to claims payments and fund transfers. The report included requisitions for regular fees and the monthly installment for ICRMT.

The meeting concluded with the committee's commitment to follow up on the recommendations made and to ensure that all necessary actions are taken to finalize the cancellation of the industrial appraisal agreement.