PRINCETON — Bureau County has total net capital assets of about $78 million, according to the audit report given at last week’s Bureau County Board meeting.
In reviewing highlights of the 2012 county audit report, Matt Shuler, senior manager with the Wipfli auditing firm, said the county’s 2012 total net capital assets of $78 million is down from the previous year’s total net capital assets of about $94 million. The main reason for that decrease is the depreciation of the county’s infrastructure at a cost of about $20 million last year. Once the road infrastructure assets have been fully depreciated, there will not be as large of a drop in the county’s total assets, Shuler said.
In other comments, Shuler said Bureau County has about $7.7 million in unrestricted net assets. A lot of revenue sources for the county are restricted, such as IMRF funds, which means they can only be used in specific areas. Bureau County is still owed about $1.1 million from the state of Illinois, he said.
Also, Bureau County has a legal debt capacity of $17.3 million, although that debt capacity is not currently being used. Overall, things are running consistently year-after-year, the auditor said
In other business at last week’s meeting, the county board took action on several bridge project resolutions, as presented by Transportation Committee Chairman Steve Sondgeroth.
The first resolution dealt with a township seal coating project for a total of 24 townships throughout the county; Pavement Maintenance Services of Henry was awarded that project contract.
The county board also approved a resolution to replace an existing bridge in Bureau Township and two bridges in Dover Township. Stark Excavating of Tonica had the low bid of $491,126 for that combined project. The local share of the project will be $98,225, with 10 percent of the local share to be reimbursed to the county by the townships, Sondgeroth said.
The board also approved resolutions for preliminary engineering work for bridge work over Spring Creek in Hall Township; preliminary engineering work to remove and replace a Manlius Township bridge over Smith Ditch; and preliminary engineering work for the removal and replacement of an existing bridge over Bureau Creek on Backbone Road. Willett Hoffman and Associates was awarded each of the preliminary engineering contracts.
After approving the resolutions, the county board voted to amend the transportation budget to provide for the upcoming projects.
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