Circuit clerk admits error
September 27, 1988
The DeKalb County circuit clerk’s failure to renew four certificates of deposit for a loss of less than $1,000 was the main topic of discussion at Democratic nominee Linda Finn’s town meeting Tuesday night.
Finn told a crowd of about 20 that $40,000 worth of CDs sat for 348 days without collecting interest because incumbent Maureen Josh did not renew the CDs in a timely manner.
Josh did not attend the town meeting but said earlier the CDs did sit without acquiring interest. She attributed the mistake to “human error.”
“No money was lost, but no money was gained,” Josh said. “I claim full responsibility (for the mistake) and it won’t happen again,” she said.
Eleven CDs totaling $95,000 are deposited in four different banks in the county, according to documents Finn received from the circuit clerk’s office.
A $15,000 CD sat for 17 days from Dec. 12 to Dec. 29, 1987 at Farmers and Merchants Bank, Sycamore. A $10,000 CD sat from Oct. 13, 1987 to Feb. 1, 1988 at The DeKalb Bank.
For five months, from May 8 to Oct. 7, 1987, a $10,000 CD sat at Citizens First National Bank, Genoa. For nearly two months from May 20, 1987 to July 28, 1987, a $5,000 CD sat at Waterman State Bank, a document stated.
Josh said, “The problem (not renewing the CDs) was corrected long before it became an issue.”
Finn said the circuit clerk is legally bonded to invest funds and to make sure no dollars are lost.
She said the interest lost should have gone to the county’s general fund, which holds all the circuit clerk’s earnings.
Investigating other means of investing the circuit clerk’s money is something Finn said she would do if elected. She said the county’s finance office has different means of investing money that could be looked into.
Finn also pointed out that she would like to implement a personnel training program for the office’s employees.
She said the program would not cost money. Rather, an exchange of professional opportunities between two businesses would take the place of money.
The town meeting took the place of the debate which Josh declined to accept.
Finn held the first of her three town meetings Sept. 20 in Genoa and will hold the final meeting Oct. 4 in Sandwich, Ill.