Peoria County treasurer unveils draft investment and purchase-card policies; renegotiates Brink's contract escalator
February 25, 2026 | Peoria County, Illinois
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The Peoria County treasurer presented a draft investment policy and recommended tighter controls for purchase cards and petty cash, then described renegotiation of the county’s armored-transport contract with Brink’s after a sharp automatic escalator increased vendor fees.
Treasurer Brandon Martin told the committee there had been no substantive county investment policy on paper and that he drafted guidelines consistent with Illinois code and state treasury standards to prioritize safety, liquidity and yield. He said petty-cash use will be reconciled weekly and that staff are discussing bonding for treasurer’s-office employees who handle large daily cash receipts.
On the contracted armored-transport service, Martin said the county’s contract had an annual escalator around 5.35% historically but began charging an escalator of roughly 28% on Jan. 1; staff negotiated the increase down to 2.9% and said they will continue to monitor performance and market options. “We got it lowered down to the 2.9% escalator from here on out,” Martin said.
Board members thanked the treasurer for putting the policies on paper and recommended staff socialize the petty-cash and purchase-card procedures with department users before final board approval next month. The treasurer said the policies and related resolutions will return for a formal vote at the next meeting.
Next steps: treasurer will circulate the draft policy and respond to departmental questions; the investment/purchase-card/petty-cash policy package will return to the committee for a final vote.
Treasurer Brandon Martin told the committee there had been no substantive county investment policy on paper and that he drafted guidelines consistent with Illinois code and state treasury standards to prioritize safety, liquidity and yield. He said petty-cash use will be reconciled weekly and that staff are discussing bonding for treasurer’s-office employees who handle large daily cash receipts.
On the contracted armored-transport service, Martin said the county’s contract had an annual escalator around 5.35% historically but began charging an escalator of roughly 28% on Jan. 1; staff negotiated the increase down to 2.9% and said they will continue to monitor performance and market options. “We got it lowered down to the 2.9% escalator from here on out,” Martin said.
Board members thanked the treasurer for putting the policies on paper and recommended staff socialize the petty-cash and purchase-card procedures with department users before final board approval next month. The treasurer said the policies and related resolutions will return for a formal vote at the next meeting.
Next steps: treasurer will circulate the draft policy and respond to departmental questions; the investment/purchase-card/petty-cash policy package will return to the committee for a final vote.
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