TREASURER’S OFFICE

Steve Weber, CPA

Will County Treasurer

STEVE WEBERCertified Public Accountant, 1986Bachelor in Accounting, Lewis UniversityChief Deputy Auditor, 1986-2000Will County Auditor, 2000-2008Elected Treasurer in 2010

WILL COUNTY TREASURER Collects $1.62 Billion Property Tax Levy

273,000 ParcelsBalanced within 48-cent

Manages $340 Million County Funds 20 Full-Time Employees

CHALLENGES Office Without a Mission

Spent 10 Years in NeutralEmphasis Drifted to CollectionLack of InnovationReactive, not Proactive

Managers honestly thought there was nothing they could improve or do better.

FIRST STEPS Focused on Employee Morale

One-On-One Meetings with Staff Employee Focus Group (without

Managers) Identified 16 Employee-Based Changes Implemented 15/16 by Year’s End

Shaved $244,000 in Operating Expenses

NO SACRED COWSWe reduced cost and increased service by aggressively negotiating with banks.

OUT-SOURCINGWe regained an entire month for our employees to focus on their primary job.

CREDIT CARD FEESWe leveraged our $100 Million Credit Card Portfolio for lower fees and improved service for staff and public.

UNCLAIMED FUNDSYes, Will County “lost” a $140,000 check to Cash Dash and didn’t know it.

PAPERLESS TAX BILLS

Pending Legislation

HAT #1:PROPERTY TAXES

Will County Treasurer’s Office

THE PROPERTY TAX PROCESSTownship Assessor Determines NEV

County Clerk Calculates Your Tax Bill

Treasurer Mails the Bill

THE COLLECTION PROCESSBanks, Credit Unions, and Will County Collect Funds

Treasurer Invests Collection to Earn Interest

Distribute Levy Funds and Interest to Taxing Districts

HAT #2:BANKING & INVESTMENT

Will County Treasurer’s Office

INVESTMENT OBJECTIVES1. Follow Federal and State Law2. Maintain the Public Trust3. Provide Sufficient Liquidity4. Preserve Capital5. Control Risk through Diversification6. Maximize Yield while Minimizing Risk

HOLDINGS BY MANAGER

Fifth-Third Asset

Mgmt; $25,061,

532 William Blair;

$103,851,931

Trea-surer's Office;

$168,312,718

HOLDINGS BY SECURITY TYPE

CDAR10%

Certificates22%

Commercial Paper7%

Municipal Bonds0%

Cash60%

June 2011

Cash29%

Commercial Paper3%

Corporate Bonds15%

FFCB Bonds0%

FHLB Bonds2%

FHLMC Bonds8%

FNMA Bonds22%

Illinois Funds0%

Money Market16%

Municipal Bonds2%

TIPS2%

Treasury Notes0%

February 2013

12 MONTH US TREASURY YIELD

2009 2010 2011 20120.000%

0.050%

0.100%

0.150%

0.200%

0.250%

0.300%

0.350%

0.400%

0.450%

0.500% 0.471%

0.318%

0.182% 0.175%

INTEREST INCOME (2008-2012)

2009 2010 2011 2012 $(500,000) $-

$500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000

Treasurer's Class C Fund Corproate Class C FundSpecial Trust Fund Levy Interest Distribution

TREASURER’S OFFICE

Steve Weber, CPA

Will County Treasurer