Crystal Lake Recovers Some from Bad Investment

Investment losses at local governments.

Investment losses at local governments.

The City of Crystal Lake was among the local governments that invested in the Illinois Metropolitan Investment Fund.

$22.3 million, according to the Chicago Tribune’s research (which can be seen here).

The original loss was estimated to be $618,204.

CL Recovery of investment gone bad 2-15Now, some has been recovered.

A check written in early February brought $10,773.89.

Note that money was invested from not only the General Fund, but also from the Motor Fuel Tax and Water & Sewer Funds.

CL Recovery of investment gone bad 4-15Another check arrived in mid-April.

It was for $19,982.64.

So, if the Tribune number is correct, Crystal Lake is still out $517,447.


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