About the Candidate
Name: Shannon L. Teresi
DOB: 1983
Occupation: McHenry County Auditor
Political Experience: McHenry County Auditor (2018-present); president of Illinois County Officials Association (2020-present)
Website: shannonteresi.com
Twitter: @VoteTeresi
Facebook: ShannonTeresiForComptroller
Instagram: @VoteTeresi
Candidate Statement
My name is Shannon Teresi and I am running for comptroller for the state of Illinois.
Unlike Mendoza, I am a CPA, a certified fraud examiner, a certified internal auditor with a proven track record of cutting wasteful spending, and proper financial management.
My determination through financial management has yielded great results by rebating money back directly to taxpayers, achieving and maintaining a AAA bond rating for McHenry County, and eliminating all county debt.
Illinois is the highest overall taxed state in the nation and we lead the country in foreclosures, and we have the worst bond rating out of all 50 states. As a mom, it is heartbreaking to see the trajectory the state is going, putting our future generations at risk.
And as your next comptroller, I promise to be a fiscal fighter, a servant leader focusing on protecting our taxpayers, seniors and young adults through proper financial management.
This is what the people of Illinois deserve, and right now they are getting the exact opposite from the comptroller's office.
On day one, I will undertake a detailed audit of all state spending, tax policy and fee structures to determine their efficacy and target waste, fraud and abuse. With a focus on transparency to the taxpayer, I will publish a report for all Illinoisans to review, so they can understand where their taxpayer dollars are actually going. I will work directly with the legislators to help them bring their spending expectations in line with the plan to drive down debt, eliminate deficit spending and put more money in the taxpayers’ pockets.
You are the change this state needs and I humbly ask for your support on November 8th, so we can provide a better future for all Illinoisans
Candidate Q&A
Why are you running?
I am running for Comptroller of Illinois because Illinois is the most corrupt, fiscally mismanaged, highest taxed state in the country and we need to change that.
As a mom of two boys, and a lifelong Illinoisan and elected McHenry County Auditor, I am heartbroken to see the trajectory this state is going. Behind closed doors, Mendoza and Pritzker are gambling with your tax dollars to achieve their political wish list. This gross negligence will have a direct impact on all of our families for generations to come.
Pritzker and Mendoza have hidden the reality of our state's finances when the truth is that we have taken on even more debt, the cost of corruption has skyrocketed in Illinois and they have further jeopardized the future for our children.
As a CPA, certified fraud examiner, and certified internal auditor, I have extensive experience in both the public and private sector. Whether it is auditing and accounting for Fortune 500 companies or for governmental and non-profits, I have extensive experience and knowledge helping all industries address waste, fraud and abuse. The audits that I have led have resulted in the removal of elected officials for non-compliance, criminal investigations and employee terminations. I am not afraid to stand for what is right, and to find resolve. My financial leadership and oversight has saved my county millions of dollars, and I look forward to doing the same for the rest of Illinois.
With proper financial management, Illinois can be the envy of every state of the nation. I will be the people’s accountant!
What does this office do well, and what needs fixing?
The office is completely under performing in all aspects due to unqualified leadership, and we’re seeing the issues with that. The last two years, Mendoza has released year-end financial reports (ACFR) with an adverse/negative opinion. That’s not acceptable for a business, it’s not acceptable for your finances, so it shouldn’t be acceptable for this state. This is what goes on under an unqualified comptroller. Mendoza, serving as the “chief accountant” of the state (when she isn’t even an accountant), just misplaced $1.6 billion of your tax dollars because of her lack of financial experience.
Secondly, I believe that much of the processes between the Comptroller and Treasurer offices have overlap. Combining these offices will save the taxpayers money and time. An intergovernmental agreement could be developed on day one.
The current way business is conducted in the Comptroller's office is outdated. I believe that we should update all operating systems and over time phase in new equipment, so we can leverage technology to prevent bottlenecks in the Comptroller's office. I implemented an automated electronic process of approving or rejecting bills in minutes vs. paying bills in weeks, months or years in a very manual process on the state level. By doing business this way, we can have a more expedited and accurate approval process to ensure all purchases comply with policy before the items are purchased.
Also, I have implemented a countywide financial system dramatically changing the way we do business. In the Comptroller's office, it is crucial to maintain accurate accountability of records, data and all other information. I believe that in order to accomplish this, we need to modernize the way our state office conducts business.
I've worked with Fortune 500 corporations and the County on their financial reporting, making sure their figures are accurate and reliable. Illinois’ finances have been incomplete and unreliable which means taxpayers can’t depend on their government. I will change this.
The current comptroller is just highlighting one fund out of 100 by playing a shell game with your money. It is like paying off one credit card, but opening 10 more. Overall, the state has more debt and liabilities and its financial position has worsened. The Comptroller's office should be the largest microphone for turning around the state and making Illinois a more business friendly state, which would lessen the tax burden on all Illinoisans.
McHenry County has achieved and maintained AAA credit rating thanks to our stewardship of its finances. With proper financial leadership we have achieved no debt, rebated money back to the taxpayer and have reduced and kept our levy flat for many years. We need to start being honest about our credit rating and finances in Illinois. We are still the worst state in the nation. This can change with qualified leadership.
I've rooted out waste, fraud, and abuse at the county level, launching investigations into corrupt practices and protecting taxpayer dollars. The taxpayers of Illinois deserve someone who can crush corruption and lead a statewide initiative stopping fraud, waste and abuse by working with the Inspector General’s office. The Comptroller’s Office performs accounting for the whole state government and has visibility to the most financial transactions than any state department. I will be the leader in identifying risks, including fraud, waste and abuse.