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Illinois County Audits Riverboat Grants

ILLINOIS – As reported by the Chicago Tribune: "Kane County is conducting an audit to determine exactly how nearly $75 million in so-called riverboat grants has been spent since 1997.

"The audit was requested by County Board Chairman Karen McConnaughay (R-St. Charles). 'At some time I'd like to publish a report on what we did with that money,' said McConnaughay.

"She said she has no reason to believe that anything is amiss in the popular grant program begun by the county under terms of a 1976 profit-sharing agreement with the Grand Victoria Casino in Elgin.

"…County Auditor William Keck said Wednesday he had just begun to undertake what is expected to be a lengthy audit.

"…McConnaughay said she wants to be prepared to argue, if necessary, why the tax-rate hikes on casinos approved by the General Assembly in recent years should expire as promised.

"As the state increased its take of casino revenue beginning in 2003, the annual share of royalties to Kane was reduced, from a high of more than $12 million in 2002 to a projected $4 million this year.

"…McConnaughay said the audit also will help her explore the potential for shifting funding for some ongoing county programs that are currently underwritten with riverboat grants to other sources…"

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