Cook County Treasurer Maria Pappas announced Tuesday that her office generated $104.7 million in revenue for Cook County in fiscal year 2000, far surpassing budget targets and setting a new performance record for the Office. The earnings for the County include:

• $58 million in interest on County revenue, inheritance tax commissions, tax penalties and other fees;
• $44 million in investment earnings on County funds;
• $2.7 million in interest earnings on Cook County's share of property tax receipts.

The total was up 15.4 percent from last year's $90.7 million.

In addition, the Office generated $27.3 million in interest earnings on property tax receipts in FY 2000 for all taxing districts countywide. That marks a 44.4 percent increase from the 1999 total of $18.9 million, and an increase of 568.7 percent from the 1998 total of $4.8 million. The LaSalle Bank lock-box collection system and new investment policies fueled the quintupling of earnings in two years. Pappas launched both changes in 1999, two months after taking office.

"We always look for the best ways to invest funds quickly and safely to help taxpayers get the most from their hard-earned money. We also work to create a level playing field in collecting taxes and fees from all taxpayers," Pappas said. "We believe these earnings demonstrate that we are achieving those goals."