TAG Releases Letter from Auditor who Examined 708 Board Audit

Yesterday the Ethics and Compliance Committee of the McHenry County 708 Mental Health Board held a meeting to consider, among other things, “FOLLOW UP ON TAG’S AUDIT AND RECONCILIATION – NEXT STEPS – FOR DISCUSSION” I wanted to post the … Continue reading

IRS Is Watching Illinois Community Colleges on Non-Cash Fringe Benefits

One of the more interesting tid-bits that came out at the McHenry County College Board meeting that neither the Northwest Herald nor the Daily Herald covered came from outside auditor Fred Lantz of Sikich, LLP. He told of an Internal … Continue reading

IRS Is Watching Illinois Community Colleges on Non-Cash Fringe Benefits

One of the more interesting tid-bits that came out at the McHenry County College Board meeting that neither the Northwest Herald nor the Daily Herald covered came from outside auditor Fred Lantz of Sikich, LLP. He told of an Internal … Continue reading

Is State Retirement Health Plan for Community College Employees in Danger of Going Belly Up?

In concluding his comments about McHenry County College’s audit, outside auditor Fred Lantz of Sikich, LLP made a startling revelation. Pointing out that medical insurance benefits are financed by a ½ percent charge on employee salaries, a ½ percent matching … Continue reading

Is State Retirement Health Plan for Community College Employees in Danger of Going Belly Up?

In concluding his comments about McHenry County College’s audit, outside auditor Fred Lantz of Sikich, LLP made a startling revelation. Pointing out that medical insurance benefits are financed by a ½ percent charge on employee salaries, a ½ percent matching … Continue reading