The City of Peoria has been fortunate to have Mary Ulrich serve as our city treasurer for more than 20 years. Mary served with distinction and honor, and I commend her for her record of service. With Mary’s recent retirement, I thought it would be appropriate to write about the role of the city treasurer’s office in city government. While not often in the public spotlight, the city treasurer’s office provides an important function in the administration of city government on a daily basis.
The city treasurer, along with the mayor and city clerk, is elected city-wide once every four years. The treasurer has primary responsibility for the administration and management of the collection and deposit of all monies due to the City of Peoria. The treasurer oversees the collection, verification, receipt, deposit, and computer entry of monies received in various departments such as the animal shelter, police, fire, library, election commission, and Workforce Development.
The city treasurer records receipts and disbursements for all funds, as well as collection, management, and distribution of property taxes levied by local government and is the ex-officio township collector. Only 15 percent of tax receipts collected by the treasurer go to the City of Peoria. The remaining 85 percent goes to fund other units of government. All funds are reconciled to their individual checking accounts. All money collected is wired to the county treasurer. There are about 60 funds the city treasurer works with. The city treasurer is required to sign every check that leaves City Hall.
Financial reports are prepared monthly and annually for the City Council. Also, a condensed version of the annual report must be published for the public. Monthly reports are created from the division of fines and fees collected by the county. In addition to the revenue accounts, the treasurer balances the payroll, imprest, and health benefits accounts.
By statute, the treasurer serves as trustee and treasurer on the Firemen’s Pension Fund Board. The treasurer receives, deposits, and records all pension receipts daily. In addition, the treasurer is responsible for investing the pension fund assets. A financial report is submitted monthly to the Pension Board of Trustees on receipts, disbursements, and bank balances. The city treasurer also serves as treasurer of the Police Pension Fund. The responsibilities of the Police Pension Fund Treasurer are the same, with the exception that the treasurer doesn’t invest police pension fund assets.
To provide a system of checks and balances, dual records of city funds are maintained in both the treasurer’s office and the City Finance Department. The treasurer collects all monies owed the city, including real estate taxes, parking tickets, and various city licenses. The Finance Department allocates these resources to the appropriate funds or accounts.
With City Council approval, I recently appointed Reginald Willis to serve the remaining two years of Mary Ulrich’s term as city treasurer. I’m confident the citizens of Peoria will continue to be served well by the new treasurer, and we wish him well. IBI