I have looked at the last Caseyville Township official audit (financial report) by the CPA firm of Sheffel Boyle, posted online at www.VoteCaseyvilleTownship.com (News tab).
From that I know that Caseyville Township has about $27 million currently in cash and investments and that they only have about $20 million very low-interest debt. They are essentially debt-free because they have more money than they owe. Even if they formally pay off the $20 million debt, it leaves the Township with $7 million in cash/investments.
It appears the $27 million makes more interest than is charged for the debt service. In fact, over the next six months, particularly with the Federal Reserve increase, the $27 million should be earning about 3 percent more than is being paid on the debt. That gives the Township residents close to $900,000 of free money a year.
Hopefully, after the upcoming election, the residents will continue to reap the rewards of Supervisor Bruce Canty’s talents and good management.
Pat Baeske, Fairview Heights