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Levy Considerations Anticipating the Future

Levy Considerations Anticipating the Future. Board Meeting Oak Grove School District. Some Reasons for our Fund Balance. We have not invested in these things that are common in our neighboring districts: Facility renovation - delayed with Master Plan Air conditioning

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Levy Considerations Anticipating the Future

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  1. Levy ConsiderationsAnticipating the Future • Board Meeting • Oak Grove School District

  2. Some Reasons for our Fund Balance • We have not invested in these things that are common in our neighboring districts: • Facility renovation - delayed with Master Plan • Air conditioning • Interactive white boards • Curriculum Coaches • Our Administration has been very conservative in fiscal management.

  3. Good Financial Position • Potential to enhance our programs for students.

  4. Preparedness Plans • Just like being prepared for fires or tornados, we need to be aware of factors in the environment that might affect us financially ... the “what ifs”.

  5. State Funding • State funding to Oak Grove will likely be reduced.

  6. Unfunded Mandates from the State • Common Core Standards - Staff Development - workshop fees, sub costs, summer work, new textbooks, materials . . . • Senate Bill 7 - Evaluate teachers and principals on student achievement. Need: data systems, 6 days training for principals, training for staff, sub costs for committees

  7. BusinessTax Abatement • Some large businesses have successfully appealed their taxes. Cost to West Northfield District 31 $2 Million pay back to Allstate this year. $3 million

  8. Staff Salary and Benefits • Contract with OGEA • Other employees

  9. Teacher Retirement Pensions • Illinois talks about requiring districts to pay a larger portion of teacher pension costs - might increase from 1/2 % to 6% (about $600,000 a year).

  10. Possible Future NeedsPossible Increased Enrollment • When empty nesters turn over houses to families with school age children. • When vacant land is developed into new subdivisions.

  11. Cost of New Programs • ? Cost of Foreign Language ?

  12. Property Tax Reduction • As the value of homes go down, people will not want to pay higher taxes. • There is a Illinois House Bill 3793 proposed that if a community’s property values decrease below the year before, the CPI for school financing formula would be set at 0.

  13. Short Description:  PTELL-EXTENSION LIMITATION October 5 sent to Rules Committee Rep. Jack Franks - McHenry County D- Woodstock 63rd Division House Bill 3793 Synopsis As IntroducedAmends the Property Tax Extension Limitation Law in the Property Tax Code. Provides that, if the total equalized assessed value of all taxable property in the taxing district for the current levy year (excluding new property, recovered tax increment value, and property that is annexed to or disconnected from the taxing district in the current levy year) is less than the total equalized assessed value of all taxable property in the taxing district for the previous levy year, then the extension limitation is (a) 0% or (b) the rate of increase approved by voters (instead of the lesser of 5% or the percentage increase in the Consumer Price Index during the 12-month calendar year preceding the levy year or (b) the rate of increase approved by voters). Effective immediately.

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