Peot oton one CU CUSD SD 207U 207U Referendum O Open Ho House - PowerPoint PPT Presentation

Peot oton one CU CUSD SD 207U 207U Referendum O Open Ho House May 7, 2019 7:00 PM Peotone High School

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

Local Funding of District (2017 Levy) Operating Rate Extension Total $11.3 Million Extension $16.3 Million B&I Extension $5.0 Million

Local Funding of District (Near Future) Operating Rate Extension Total $11.3 Million Extension $16.3 Million B&I Extension $5.0 Million

Local Funding of District (Near Future) Total Operating Rate Extension Extension $16.3 $11.3 Million Million

The difference between op operatin ing rate e exten ensio ion and local capacity ty t target is concerning

368 Unit Districts in Illinois 6 th Wo Worst difference by Percentage 10 th Wo Worst difference by Actual Dollars

Local Funding of District (After Rate Increase) Base sed on 2018 n 2018 L LCT f figures Operating Local Capacity Rate Target Extension $15.4 Million $15.4 Million

Homeowners will see a decrea ease e in 2020 compared to 2019 Homeowners will see a $1.47 dec ecreas ase per $1,000 of value in 2020 On a $200,000 home, this will mean an reduc duction of $293.77 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 $0.60 increase per $1,000 of value in 2021 compared to 2019 On a $200,000 home, this would mean an additional $120.83 in 2021 compared to 2019 ($10.07 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 $1.13 dec ecrea ease per $1,000 of value in 2024 compared to 2019 On a $200,000 home, this would mean a savi vings of $225.72 per year ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE

Estimate of Tax Levy Changes Annual Monthly Paid in Bond and Total Rate Total Levy Effect on Effect on For Fiscal Debt Operational Operational Total Levy Year Calendar Interest Tax Total Rate Change to per $1,000 $200,000 $200,000 Year Extension Rate Levy Extension Year Rate 2019 to 2019 Home to Home to 2019 2019 2017 2018 2019 1.3959 $5,020,016 3.1329 $11,266,800 4.5288 $16,286,817 - - - - 2018 2019 2020 1.4325 $5,309,258 3.1127 $11,536,353 4.5452 $16,845,612 - - - - 2019 2020 2021 1.0140 $3,864,345 3.0906 $11,778,617 4.1046 $15,642,961 (0.4407) $(1.47) $(293.77) $(24.48) 2020 2021 2022 0.5198 $2,020,747 4.2066 $16,352,598 4.7265 $18,373,345 0.1812 $0.60 $120.83 $10.07 2021 2022 2023 0.5097 $2,021,049 4.2066 $16,679,650 4.7164 $18,700,699 0.1711 $0.57 $114.09 $9.51 2022 2023 2024 0.2338 $945,693 4.2066 $17,013,243 4.4405 $17,958,939 (0.1048) $(0.35) $(69.84) $(5.82) 2023 2024 2025 0.0000 $ - 4.2066 $17,353,508 4.2066 $17,353,508 (0.3386) $(1.13) $(225.72) $(18.81) 2024 2025 2026 0.0000 $ - 4.2066 $17,700,578 4.2066 $17,700,578 (0.3386) $(1.13) $(225.72) $(18.81) ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE

Estimate of Tax Levy Changes Annual Monthly Paid in Bond and Total Rate Total Levy Effect on Effect on For Fiscal Debt Operational Operational Total Levy Year Calendar Interest Tax Total Rate Change to per $1,000 $200,000 $200,000 Year Extension Rate Levy Extension Year Rate 2019 to 2019 Home to Home to 2019 2019 Lower Total 2017 2018 2019 1.3959 $5,020,016 3.1329 $11,266,800 4.5288 $16,286,817 - - - - $0.00 2018 2019 2020 1.4325 $5,309,258 3.1127 $11,536,353 4.5452 $16,845,612 - - - - Tax Rate 2019 2020 2021 1.0140 $3,864,345 3.0906 $11,778,617 4.1046 $15,642,961 (0.4407) $(1.47) $(293.77) $(24.48) Outstanding than 2019! 2020 2021 2022 0.5198 $2,020,747 4.2066 $16,352,598 4.7265 $18,373,345 0.1812 $0.60 $120.83 $10.07 Debt! 2021 2022 2023 0.5097 $2,021,049 4.2066 $16,679,650 4.7164 $18,700,699 0.1711 $0.57 $114.09 $9.51 2022 2023 2024 0.2338 $945,693 4.2066 $17,013,243 4.4405 $17,958,939 (0.1048) $(0.35) $(69.84) $(5.82) 2023 2024 2025 0.0000 $ - 4.2066 $17,353,508 4.2066 $17,353,508 (0.3386) $(1.13) $(225.72) $(18.81) 2024 2025 2026 0.0000 $ - 4.2066 $17,700,578 4.2066 $17,700,578 (0.3386) $(1.13) $(225.72) $(18.81) ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE

ALREADY PAID 2018 $16,286,817 TAXES DUE SOON 2019 $16,845,612 NOT AFFECTED 2020 $15,642,961 INCREASED RATE 2021 $18,373,345 Projected Total Levy with Proposal 2022 ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE $18,700,699 2023 $17,958,936 2024 DEBT FREE $17,353,508 2025 NORMAL GROWTH AT RATE $17,700,578 2026 $18,054,590 OF INFLATION 2027 $18,415,681 2028 $18,783,995 2029 $19,159,675

Sample Bill (School District Portion) on $200,000 Home $3,150.98 $3,144.24 $3,030.15 $3,019.19 $2,960.31 $2,804.43 $2,804.43 $2,804.43 $2,804.43 $2,804.43 $2,804.43 $2,736.38 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE

Estimate of Tax Levy Without Changes Annual Monthly Paid in Bond and Total Rate Total Levy Effect on Effect on For Fiscal Debt Operational Operational Total Levy Year Calendar Interest Tax Total Rate Change to per $1,000 $200,000 $200,000 Year Extension Rate Levy Extension Year Rate 2019 to 2019 Home to Home to 2019 2019 2017 2018 2019 1.3959 $5,020,016 3.1329 $11,266,800 4.5288 $16,286,817 - - - - 2018 2019 2020 1.4325 $5,309,258 3.1127 $11,536,353 4.5452 $16,845,612 - - - - 2019 2020 2021 1.0140 $3,864,345 3.0906 $11,778,617 4.1046 $15,642,961 (0.4407) $(1.47) $(293.77) $(24.48) 2020 2021 2022 0.7647 $2,972,809 3.0876 $12,002,410 3.8523 $14,975,220 (0.6929) $(2.31) $(461.94) $(38.50) 2021 2022 2023 0.7647 $3,032,266 3.0876 $12,242,459 3.8523 $15,274,724 (0.6929) $(2.31) $(461.94) $(38.50) 2022 2023 2024 0.7647 $3,092,911 3.0876 $12,487,308 3.8523 $15,580,219 (0.6929) $(2.31) $(461.94) $(38.50) 2023 2024 2025 0.7647 $3,154,769 3.0876 $12,737,054 3.8523 $15,891,823 (0.6929) $(2.31) $(461.94) $(38.50) 2024 2025 2026 0.7647 $3,217,864 3.0876 $12,991,795 3.8523 $16,209,659 (0.6929) $(2.31) $(461.94) $(38.50) ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE

Current Working Cash Bonds Are Spent Estimate of Tax Levy Without Changes Bond and Annual Paid in Debt Operational Operational Total Levy Year Calendar Year For Fiscal Year Interest Tax Total Rate Shortfall of Extension Rate Levy Extension Rate Adequacy 2017 2018 2019 1.3959 $5,020,016 3.1329 $11,266,800 4.5288 $16,286,817 - 2018 2019 2020 1.4325 $5,309,258 3.1127 $11,536,353 4.5452 $16,845,612 - 2019 2020 2021 1.0140 $3,864,345 3.0906 $11,778,617 4.1046 $15,642,961 $(388,997) 2020 2021 2022 0.7647 $2,972,809 3.0876 $12,002,410 3.8523 $14,975,220 $(1,377,378) 2021 2022 2023 0.7647 $3,032,266 3.0876 $12,242,459 3.8523 $15,274,724 $(1,404,926) 2022 2023 2024 0.7647 $3,092,911 3.0876 $12,487,308 3.8523 $15,580,219 $(1,433,024) 2023 2024 2025 0.7647 $3,154,769 3.0876 $12,737,054 3.8523 $15,891,823 $(1,461,684) 2024 2025 2026 0.7647 $3,217,864 3.0876 $12,991,795 3.8523 $16,209,659 $(1,490,918) ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE

64.84% State expects 50% fund 53.44% balances to expense ratio 42.27% 29.50% 16.02% 1.60%

Peotone’s Current Tax Rate Facts Operating rate (3.11%) ranks 363 363 ou out of of 368 368 unit districts in Illinois Total rate (4.55%) ranks 247 7 out o of 3 368 68 unit districts in Illinois EAV (property value) per pupil ranks 22 of 22 of 368 368 unit districts in Illinois 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, $350,000 00 pe per year ar be spent? Starting salaries of 10 additional teachers Purchase 1,250 Chromebooks for students Replace outdated SMART Boards in 75 classrooms

Examples of Current Facility Needs Repair drainage at PJHS “U” - $317,900 Boiler leak at PJHS - $45,000-$250,000? Tile Floor Replacement at PJHS - $135,000 Upgrade HVAC/light control system - $36,200

Examples of Annual Costs (2017-2018 Year) Gasoline/Diesel Fuel: $189,000 High Speed Internet Service: $142,000 Electricity: $191,000

Highest Debt Service vs. Proposed Rate Increase Taxpayer Savings 0.3386% 2021 Increase $493,013 2019 Debt in Operating Service Levy vs . Rate 1.4325% 1.0939% Keep in mind, this $5,309,258 $4,816,245 rate is 2 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