Peotone CUSD 207U Referendum Open House December 10, 2019 7:00 PM Peotone Intermediate Center, Frankfort, IL
Life in a business office
The reason for a business office
This referendum is about providing for our kids
History of Working Cash Bonds in Peotone 1999: The community voted to issue bonds to build the new Peotone High School 2003: The community narrowly defeated an operating tax rate increase 2004: The community voted to increase the Debt Service Extension Base to allow the district to issue working cash bonds to cover the annual operational deficit
Local Funding of District Operating Rate Extension Total $11.5 Million Extension $16.8 Million B&I Extension $5.3 Million
Local Funding of District (Currently) Based on 2019 LCT figures Operating Local Capacity Rate Target Extension $15.5 Million $11.5 Million
Local Funding of District (Currently) Based on 2019 LCT figures Operating Rate Local Capacity Extension + Target Working Cash $15.5 Million $13.9 Million
Local Funding of District (After Rate Increase) Based on 2019 LCT figures Operating Local Capacity Rate Target Extension $15.5 Million $15.5 Million
Local Funding of District (Currently) Based on 2019 LCT figures Operating Local Capacity Rate Target Extension $15.5 Million $11.5 Million
The difference between current operating rate extension and local capacity target is concerning
386 Unit Districts in Illinois 7 th Worst difference by Percentage 10 th Worst difference by Actual Dollars
Peotone’s Current Tax Rate Facts Operating rate (3.11%) ranks 368 out of 386 unit districts in Illinois Total rate (4.55%) ranks 262 out of 386 unit districts in Illinois EAV (property value) per pupil ranks 23 of 386 unit districts in Illinois ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE
Will and Kankakee Counties Current Tax Rate Facts EAV per pupil rank District Operating Rate Total Rate (of 386 unit districts) Crete Monee CUSD 201U 6.55% 8.49% 191 Valley View 365U 5.88% 7.30% 130 Beecher CUSD 200U 5.51% 6.81% 125 Kankakee SD 111 5.33% 6.28% 354 Grant Park CUSD 6 4.73% 5.56% 102 Plainfield SD 202 4.73% 5.57% 197 Manteno CUSD 5 4.72% 6.36% 128 Herscher CUSD 2 4.43% 5.03% 83 Momence CUSD 1 4.02% 5.07% 233 Reed Custer CUSD 255U 3.93% 3.93% 3 Wilmington CUSD 209U 3.29% 4.29% 68 Peotone CUSD 207U 3.11% 4.55% 23 ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE
Will and Kankakee Counties Current Tax Rate Facts EAV per pupil rank District Operating Rate Total Rate (of 386 unit districts) Crete Monee CUSD 201U 6.55% 8.49% 191 Valley View 365U 5.88% 7.30% 130 3 out of 12 Beecher CUSD 200U 5.51% 6.81% 125 Last out of 2 out of 12 Kankakee SD 111 5.33% 6.28% 354 districts Grant Park CUSD 6 4.73% 5.56% 102 12 districts districts Plainfield SD 202 4.73% 5.57% 197 Manteno CUSD 5 4.72% 6.36% 128 Herscher CUSD 2 4.43% 5.03% 83 Momence CUSD 1 4.02% 5.07% 233 Reed Custer CUSD 255U 3.93% 3.93% 3 Wilmington CUSD 209U 3.29% 4.29% 68 Peotone CUSD 207U 3.11% 4.55% 23 ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE
Will and Kankakee Counties Proposed Tax Rate Facts EAV per pupil rank District Operating Rate Total Rate (of 386 unit districts) Crete Monee CUSD 201U 6.55% 8.49% 191 Valley View 365U 5.88% 7.30% 130 Beecher CUSD 200U 5.51% 6.81% 125 Kankakee SD 111 5.33% 6.28% 354 Grant Park CUSD 6 4.73% 5.56% 102 Plainfield SD 202 4.73% 5.57% 197 Manteno CUSD 5 4.72% 6.36% 128 Herscher CUSD 2 4.43% 5.03% 83 Peotone CUSD 207U 4.09% 4.09% 23 Momence CUSD 1 4.02% 5.07% 233 Reed Custer CUSD 255U 3.93% 3.93% 3 Wilmington CUSD 209U 3.29% 4.29% 68 ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE
Homeowners will see a decrease in 2020 compared to 2019 Homeowners will see a $1.63 decrease per $1,000 of value in 2020 On a $200,000 home, this will mean an reduction of $326.64 in 2020 ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE
Homeowners will see a slight increase in 2021 compared to 2019 Homeowners would see a $0.18 increase per $1,000 of value in 2021 compared to 2019 On a $200,000 home, this would mean an additional $36.67 in 2021 compared to 2019 ($3.06 per month) ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE
Homeowners will see full tax relief in 2024 when debt is repaid Homeowners would see a $1.52 decrease per $1,000 of value in 2024 compared to 2019 On a $200,000 home, this would mean a savings of $304.30 per year ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE
Highest Debt Service vs. Proposed Rate Increase Taxpayer Savings 0.4013% 2021 Increase $998,372 2019 Debt in Operating Service Levy vs . Rate 1.4325% 1.0312% Keep in mind, this $5,309,258 $4,310,886 rate is 1.75 years in the future, so it also accounts for inflation during this time. ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE
Recent Working Cash Bonds Cost Borrowed money to cover 2 years of operational deficit Takes 5 years to repay because the debt schedule has to push the repayment to future years Cost $700,000 in interest in fees over the entire 5 year repayment schedule ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE
Where could $350,000 per year be spent? Starting salaries of 10 additional teachers Purchase 1,250 Chromebooks for students Replace outdated SMART Boards in 75 classrooms
HVAC/Boiler Renovations – All buildings (PHS) Roof replacements – All buildings (PHS and CSC) Asbestos Containment – All buildings except PHS LED Lighting Upgrade & Occupancy Sensors – All buildings Building Envelope Improvements – All buildings
PJHS Original (1950’s) Boiler
PES Original (1950’s) Boiler
PHS Roof Seam
PJHS Original (1950’s) Unit Ventilator
PJHS Door Jam
Total Facility Needs $15,850,739
What is being asked of voters? 2023 Levy with Referendum: $17,143,380 2023 Levy without Referendum: $15,280,815 Difference is $1,862,565 This estimate includes continuing to issue 0.4443% Total Tax Rate Increase $2.4 million in working cash bonds each year ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE
Where could these additional funds be invested? • The following 5 year spending plan is A plan, not necessarily THE plan. • It certainly starts to address needs identified today, but the future could change quickly with one expensive facility repair. • The community and Board must work together each year to budget these funds where the need is greatest. • Some of these costs are going to come whether the referendum passes or not.
Spending Plan Year 1 Estimated New Funds Available $ 1,613,203.21 Carryover From Previous Year $ ‐ Item Estimated 2019 Cost Department Notes 6‐8 Health Adoption $ 75,000.00 Curriculum CPU Refresh from 2016‐2017 $ 180,000.00 Technology 210 lab and teacher/staff devices Beginning of SmartBoard Refresh $ 60,000.00 Technology Grades 4 & 5 Annual Chromebook Refresh $ 25,000.00 Technology 60 Devices Chromebook Additions $ 25,000.00 Technology 60 Devices Principal Discretionary Budget $ 40,000.00 Building Supplies $10,000 to each building for targeted investments Minimum Wage Increases ($12.00 per hour) $ 38,000.00 Staffing Illinois State Law requires hourly increases for staff PES Boiler Replacement/HVAC Renovation $ 972,608.00 Facilities Includes some AC preparation; major renovation required to deliver to rooms PIC Septic Expansion $ 36,605.00 Facilities Allows hot lunch to be prepared on site Contingency for Asbestos Abatement $ 150,000.00 Facilities Could be included in major renovation; reserved for deteriorating floor/ceiling/insulation Total Cost* $ 1,602,213.00 Remaining Funds $ 10,990.21 *Costs are in 2019 dollars
Spending Plan Year 2 Estimated New Funds Available $ 1,694,683.44 Carryover From Previous Year $ 10,990.21 Item Estimated 2019 Cost Department Notes CPU Refresh from 2017‐2018 $ 50,000.00 Technology 60 teacher/staff devices Continuation of SmartBoard Refresh $ 100,000.00 Technology Grades K‐3 Annual Chromebook Refresh $ 25,000.00 Technology 60 Devices Chromebook Additions $ 25,000.00 Technology 60 Devices Principal Discretionary Budget $ 42,000.00 Building Supplies $10,500 to each building for targeted investments Minimum Wage Increases ($13.00 per hour) $ 90,000.00 Staffing Illinois State Law requires hourly increases for staff PJHS Boiler Replacement/HVAC Renovation $ 960,000.00 Facilities Includes some AC preparation; major renovation required to deliver to rooms Contingency for Asbestos Abatement $ 150,000.00 Facilities Could be included in major renovation; reserved for deteriating floor/ceiling/insulation Total Cost* $ 1,442,000.00 Remaining Funds $ 263,673.65 *Costs are in 2019 dollars
Recommend
More recommend
