County authorizes interfund borrowing to support general fund
The Kankakee County Board approved a resolution Tuesday that will allow the county to borrow money from its various accounts to support the county's general operating fund.
The resolution is based on observations from the Kankakee County finance director that the general fund tends to run short on funds during certain times of year.
The county expects to remedy this issue by authorizing itself to borrow up to $7,885,000 from its other accounts. The money will be returned to its proper place, as allocated in the county's original budget for this year, by Nov. 30.
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406 E 2nd St
Momence, IL - 60954
189 East Court Street
Kankakee, IL - 60901