Patton speaks out on budget - KMOV.com

Patton speaks out on budget

The Madison County Board on Wednesday passed a $42.8 million budget for 2010.

Hal Patton was one of four Madison County Board members who voted against it. The four opposed the budget as well as the levy, which was $31.6 million, up 4.76 percent from last year.

That increase was attributed primarily to a state mandate that requires the county to increase the amount of funding to the Illinois Municipal Retirement Fund.

Earlier this year, the IMRF announced that it had lost 30 percent of its portfolio in the stock market from Sept. 30 through Oct. 31, 2008.

“I’ve tagged it the Irresponsible Management Revenue Fund,” Patton said in his remarks to the County Board. “Once again this year we see a jump of about $1.2 million in that fund. If that jump were not necessary, we’d take this 4.76 increase in the levy down to .68 percent – less than 1 percent.”

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