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Peot
- ton
- ne CU
CUSD SD 207U 207U Referendum O Open Ho House
May 7, 2019 7:00 PM Peotone High School
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 - - 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
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The reason for a business office
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This referendum is about providing for our kids
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History of Working Cash Bonds in Peotone
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Local Funding of District (2017 Levy)
Operating Rate Extension $11.3 Million
Total Extension $16.3 Million
B&I Extension $5.0 Million
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Local Funding of District (Near Future)
Operating Rate Extension $11.3 Million
Total Extension $16.3 Million
B&I Extension $5.0 Million
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Local Funding of District (Near Future)
Operating Rate Extension $11.3 Million
Total Extension $16.3 Million
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The difference between op
- peratin
ing rate e exten ensio ion and local capacity ty t target is concerning
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368 Unit Districts in Illinois 6th Wo Worst difference by Percentage 10th Wo Worst difference by Actual Dollars
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Local Funding of District (After Rate Increase)
Base sed on 2018 n 2018 L LCT f figures
Operating Rate Extension $15.4 Million Local Capacity Target $15.4 Million
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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
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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
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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
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Levy Year Paid in Calendar Year For Fiscal Year Bond and Interest Tax Rate Debt Extension Operational Rate Operational Levy Total Rate Total Extension Total Rate Change to 2019 Total Levy per $1,000 to 2019 Annual Effect on $200,000 Home to 2019 Monthly Effect on $200,000 Home to 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)
Estimate of Tax Levy Changes
ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE
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Levy Year Paid in Calendar Year For Fiscal Year Bond and Interest Tax Rate Debt Extension Operational Rate Operational Levy Total Rate Total Extension Total Rate Change to 2019 Total Levy per $1,000 to 2019 Annual Effect on $200,000 Home to 2019 Monthly Effect on $200,000 Home to 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)
Estimate of Tax Levy Changes
ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE
$0.00 Outstanding Debt! Lower Total Tax Rate than 2019!
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ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE
$16,286,817 $16,845,612 $15,642,961 $18,373,345 $18,700,699 $17,958,936 $17,353,508 $17,700,578 $18,054,590 $18,415,681 $18,783,995 $19,159,675
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
Projected Total Levy with Proposal
TAXES DUE SOON NOT AFFECTED INCREASED RATE DEBT FREE NORMAL GROWTH AT RATE OF INFLATION ALREADY PAID
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$3,019.19 $3,030.15 $2,736.38 $3,150.98 $3,144.24 $2,960.31 $2,804.43 $2,804.43 $2,804.43 $2,804.43 $2,804.43 $2,804.43
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
Sample Bill (School District Portion) on $200,000 Home ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE
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Estimate of Tax Levy Without Changes
Levy Year Paid in Calendar Year For Fiscal Year Bond and Interest Tax Rate Debt Extension Operational Rate Operational Levy Total Rate Total Extension Total Rate Change to 2019 Total Levy per $1,000 to 2019 Annual Effect on $200,000 Home to 2019 Monthly Effect on $200,000 Home to 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
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Estimate of Tax Levy Without Changes
Levy Year Paid in Calendar Year For Fiscal Year Bond and Interest Tax Rate Debt Extension Operational Rate Operational Levy Total Rate Total Extension Annual Shortfall of 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 Current Working Cash Bonds Are Spent
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64.84% 53.44% 42.27% 29.50% 16.02% 1.60% State expects 50% fund balances to expense ratio
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Peotone’s Current Tax Rate Facts
Operating rate (3.11%) ranks 363 363 ou
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- f 368
368 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
Total rate (4.55%) ranks 247 7 out o
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368 68 unit districts in Illinois
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Recent Working Cash Bonds Cost
Borrowed money to cover 2 years of operational deficit 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
Takes 5 years to repay because the debt schedule has to push the repayment to future years
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Where could $350, $350,000 00 pe per year ar be spent?
Starting salaries of 10 additional teachers Replace outdated SMART Boards in 75 classrooms Purchase 1,250 Chromebooks for students
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Examples of Current Facility Needs
Repair drainage at PJHS “U” - $317,900 Tile Floor Replacement at PJHS - $135,000 Boiler leak at PJHS - $45,000-$250,000? Upgrade HVAC/light control system - $36,200
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Examples of Annual Costs (2017-2018 Year)
Gasoline/Diesel Fuel: $189,000 Electricity: $191,000 High Speed Internet Service: $142,000
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Highest Debt Service vs. Proposed Rate Increase
2019 Debt Service Levy 1.4325% $5,309,258 2021 Increase in Operating Rate 1.0939% $4,816,245
Taxpayer Savings 0.3386% $493,013
vs.
ALL FIGURES ARE ESTIMATED ON CURRENT DATA AND ARE SUBJECT TO CHANGE
Keep in mind, this rate is 2 years in the future, so it also accounts for inflation during this time.
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Stop wasting money on working cash borrowing Have financial flexibility to invest in further cost savings Invest in our staff to reduce turnover
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