Consolidated School District 158 – Board of Education
Levy Hearing
December 16, 2010
Meeting: Levy Hearing
Time: 7:00 p.m.
Location: Administrative Building, 650 Academic Drive, Algonquin, Illinois 60102
Board of Education Members: President, Mr. Kevin Gentry; Vice-President– Mr. Michael Skala; Secretary, Mrs.
Kimberly Skaja; Mr. Donald Drzal; Mr. Anthony Quagliano; Ms. Aileen Seedorf; Mr. Paul Troy
Agenda
Time
7:00 p.m.
Item
1
Description
Call The Hearing to Order President Mr. Gentry
Motion: Move to call the December 16, 2010 Levy Hearing to Order at ___ p.m.
A quorum must be met.
Members: Mr. Gentry, Mr. Troy, Mr. Drzal, Ms. Seedorf, Mrs. Skaja, Mr. Skala, Mr. Quagliano
___ Absent: ___ Motion ____.
2
Testimony for the 2010 Levy
Mr. Altmayer will present the Truth in Taxation for 2010 Property Tax Extensions as required by
law (35ILCS 200/18-55).
The Notice of Publication in the Northwest Herald was published on December 8, 2010 by the
Board of Education of Consolidated School District Number 158, in the Counties of McHenry and
Kane, State of Illinois.
Mr. Altmayer will seek approval for the 2010 Levy during the regular business portion of the
meeting, December 16, 2010.
3
Public Comments
An opportunity for comment is provided at this time.
4
Adjournment
Motion to adjourn the levy hearing at ______ p.m.
Voice Call: Ayes ____ Nays _____ Absent _____ Motion ______.
The Regular meeting will resume at this time.
Levy Hearing 12-16-10 Agenda.doc
Page 1 of 1
Consolidated
Board of Education
President, Kevin Gentry
Vice President, Michael Skala
Secretary, Kimberly Skaja
Donald Drzal
Anthony Quagliano
Aileen Seedorf
Paul Troy
School District 158
Administrative Cabinet
Dr. John D. Burkey, Superintendent
Terry L. Awrey, Ed.S. Associate Superintendent
Dr. Mary M. Olson, Chief Academic Officer
Mark Altmayer, Chief Financial Officer / Treasurer
Jessica Lombard, Chief Human Resources Officer
650 Academic Drive, Algonquin, Illinois 60102 ▪ Phone: (847) 659-6158 ▪ www.district158.org ▪ EOE
To: From: Date: Subject: Board of Education and Administration Mark Altmayer, Chief Financial Officer December 16, 2010 Levy 2010 – Property Tax Extension Board of Education Meeting, December 16, 2010 Finance Committee In accordance with the Truth in Taxation – A school district proposing to increase its aggregate levy more than 105 percent of its prior year’s extension, must publish notice prior to such a hearing as required by law. With CPI at 2.7% the District will not exceed the 105 percent of prior year’s extension; however, with the total estimated EAV and new construction not yet known, combined with the ballooning of the levy, we may exceed the 105%. As discussed at the December 2, 2010 Finance Committee meeting, Administration is moving forward with a levy hearing to be held on December 16, 2010. The 2010 Tax Levy Summary as well as the timeline of the levy process follows: o
o
o
Truth in Taxation Public Hearing ‐ Thursday, December 16, 2010 2010 Property Tax Extensions Approval at Regular Board Meeting ‐ Thursday, December 16, 2010 File Certificate of Tax Levy with county clerks no later than Tuesday, December 28, 2010 Tax Levy Summary Using the McHenry and Kane County assessor estimated EAV reports; 2010 EAV (before Board Review) is expected to decrease to 5.13% to approximately $1.372B from $1.434B in levy year 2009. New construction, which approximates $11.6M, is a significant decrease from prior year’s approximate $29.6M. As a result of declining assessed values, the Operating Funds Capped Tax Rate is expected to increase to approximate $3.70, up from last year’s 3.39. The Total Tax Rate, including the Bond & Interest Fund is expected to approximate $4.48, up from last years $4.12, the result of decreasing assessed values. RECOMMENDATION The Finance Committee, which met on December 2, 2010, recommends the Board of Education approve the Property Tax Extensions at the December 16, 2010 Regular Board meeting. Consolidated
Board of Education
President, Kevin Gentry
Vice President, Michael Skala
Secretary, Kimberly Skaja
Donald Drzal
Anthony Quagliano
Aileen Seedorf
Paul Troy
School District 158
Administrative Cabinet
Dr. John D. Burkey, Superintendent
Terry L. Awrey, Ed.S. Associate Superintendent
Dr. Mary M. Olson, Chief Academic Officer
Mark Altmayer, Chief Financial Officer / Treasurer
Jessica Lombard, Chief Human Resources Officer
650 Academic Drive, Algonquin, Illinois 60102 ▪ Phone: (847) 659-6158 ▪ www.district158.org ▪ EOE
To: From: Date: Subject: Board of Education and Administration Mark Altmayer, Chief Financial Officer December 2, 2010 Levy 2010 – Property Tax Extension Committee of the Whole Meeting, December 2nd, 2010 Finance Committee In accordance with the Truth in Taxation – A school district proposing to increase its aggregate levy more than 105 percent of its prior year’s extension, must publish notice prior to such a hearing as required by law. With CPI at 2.7% the District will not exceed the 105 percent of prior year’s extension; however, with the total estimated EAV and new construction not yet known, combined with the ballooning of the levy, we may exceed the 105%. As such, Administration is moving forward with a levy hearing to be held on December 16, 2010. The 2010 Tax Levy Summary as well as the timeline of the levy process follows: o
o
o
Truth in Taxation Public Hearing ‐ Thursday, December 16, 2010 2010 Property Tax Extensions Approval at Regular Board Meeting ‐ Thursday, December 16, 2010 File Certificate of Tax Levy with county clerks no later than Tuesday, December 28, 2010 Tax Levy Summary Using the McHenry and Kane County assessor estimated EAV reports; 2010 EAV (before Board Review) is expected to decrease to 5.13% to approximately $1.372B from $1.434B in levy year 2009. New construction, which approximates $11.6M, is a significant decrease from prior year’s approximate $29.6M. As a result of declining assessed values, the Operating Funds Capped Tax Rate is expected to increase to approximate $3.70, up from last year’s 3.39. The Total Tax Rate, including the Bond & Interest Fund is expected to approximate $4.48, up from last years $4.12, the result of decreasing assessed values. Consolidated
Board of Education
President, Kevin Gentry
Vice President, Vacant
Secretary, Kimberly Skaja
Donald Drzal
Aileen Seedorf
Michael Skala
Paul Troy
School District 158
Administrative Cabinet
Dr. John D. Burkey, Superintendent
Terry L. Awrey, Ed.S. Associate Superintendent
Dr. Mary M. Olson, Chief Academic Officer
Mark Altmayer, Chief Financial Officer / Treasurer
Jessica Lombard, Chief Human Resources Officer
650 Academic Drive, Algonquin, Illinois 60102 ▪ Phone: (847) 659-6158 ▪ www.district158.org ▪ EOE
Recommendation Administration requests that the Finance Committee recommends the Board of Education approve the Property Tax Extensions at the December 16, 2010 Regular Board meeting. Consolidated School District #158
Property Tax Levy
2010 Extension
% Dec. in EAV
EAV
New Growth
1,406,256,475
34,046,311
2008
Actual Extension
Fund
Rate
Education
Bond & Interest
Operations & Maintenance
IMRF
Transportation
Working Cash
Life Safety
Special Education
Tort
Social Security
Operating Funds Capped
Total
`
Over/(Under)
11/22/2010
2.526188
0.645746
0.505984
0.068292
0.198047
0.020487
0.000000
0.000000
0.000000
0.068292
3.387290
4.033036
Limiting Rate
Over/(Under)
Extension
35,524,682
9,080,843
7,115,433
960,361
2,785,049
288,100
0
0
0
960,361
47,633,985
56,714,828
1,434,694,262
29,569,739
1,361,037,059
11,616,947
2009
Actual Extension
Rate
2.627424
0.731320
0.410225
0.071198
0.192840
0.020524
0.000000
0.000000
0.000000
0.071198
3.393410
4.124730
Proposed
37,695,504
10,492,212
5,885,472
1,021,477
2,766,671
294,457
0
0
0
1,021,477
48,685,059
59,177,271
3.393410
0.000000
2010 Proposed Extension
-5% EAV Growth
Max Rate
4.000000
0.750000
0.200000
0.050000
0.100000
0.800000
5.900000
Projected Limiting Rate
Over/(Under)
Page 1 of 1
5.134%
Rate
Proposed
2.868674
0.811852
0.447892
0.077736
0.210547
0.022409
0.000000
0.000000
0.000000
0.077736
3.704992
4.516844
39,043,714
11,049,600
6,095,971
1,058,011
2,865,623
304,988
0
0
0
1,058,011
50,426,318
61,475,918
2,298,647
Rate Increase
0.392113
3.884%
3.704992
0.000000
Levy TAX RATE Worksheet a/Extension
9.506%
2010 LEVY CALCULATION PAGE
Limiting Rate:
Limiting Rate:
Estimated Capped Extension:
(Prior Year Extension x (1+Lesser of 5% or CPI))
(Total EAV - New Construction)
Educational
Operations & Maintenance
Transportation
Working Cash
Municipal Retirement
Social Security
Fire Prevention & Safety *
Tort Immunity
Special Education
Leasing
Other
$37,695,503.59
$5,885,472.31
$2,766,671.17
$294,456.65
Maximum Tax
Rate:
4.00%
0.75%
0.00%
0.05%
$1,021,477.41
$1,021,477.41
$0.00
0.10%
$0.00
$0.00
$0.00
$0.00
2.70%
Actual Total EAV for 2009:
Estimated % change from 2009 EAV:
-5.13%
Estimated New Construction for 2010:
Estimated Total EAV for 2010:
Total change from prior year:
3.6736%
$50,426,319.53
Prior Year Extension:
Consumer Price Index:
0.80%
0.00%
0.00%
Individual Fund Estimated
Maximum Extension:
$54,906,160.22
Prorated Extension based
on prior year extension:
$39,043,714.15
Manual Override:
$1,434,694,262
$11,616,947
$1,372,654,005.59
-4.32%
Balloon % input:
5.00%
Levy Amount:
$40,995,900.00
$10,294,905.04
$6,095,971.05
5.00%
$6,400,770.00
$0.00
$2,865,623.43
5.00%
$3,008,905.00
$686,327.00
$304,988.13
5.00%
$320,238.00
$0.00
$1,058,011.39
5.00%
$1,110,912.00
5.00%
$1,110,912.00
$0.00
$1,058,011.39
$1,372,654.01
$0.00
$0.00
$0.00
$0.00
$10,981,232.04
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
Truth in
Taxation
Capped Extension/Levy
$48,685,058.54
$78,241,278.32
$50,426,319.53
$0.00
Capped Levy
Levy in excess of estimated extension
SEDOL IMRF
$0.00
SEDOL IMRF
Bond and Interest:
$10,492,212.47
Bond and Interest:
Total Extension/Levy
$59,177,271.01
$52,947,637.00
8.76%
$2,521,317.47
$0.00
$11,049,600.00
Total Levy
$11,049,600.00
5.31%
$63,997,237.00
8.14%
YES
ILLINOIS STATE BOARD OF EDUCATION
x
Original:
Amended:
School Business and Support Services Division
217/785-8779
CERTIFICATE OF TAX LEVY
A copy of this Certificate of Tax Levy shall be filed with the County Clerk of each county in which the school district is located
on or before the last Tuesday of December.
District Name
District Number
Consolidated School District 158
County
158
McHenry, Kane
Amount of Levy
Educational
$
Operations & Maintenance
$
Transportation
$
Working Cash
$
Municipal Retirement
$
Social Security
$
40,995,900
6,400,770
3,008,905
320,238
1,110,912
1,110,912
Fire Prevention & Safety *
$
Tort Immunity
$
Special Education
$
Leasing
$
Other
$
Other
$
Total Levy
$
0
0
0
0
0
0
52,947,637
* Includes Fire Prevention, Safety, Energy Conservation, Disabled Accessibility, School Security,
See explanation on reverse side.
Note:
and Specified Repair Purposes.
Any district proposing to adopt a levy must comply with
the provisions set forth in the Truth in Taxation Law.
We hereby certify that we require:
the sum of
40,995,900
the sum of
6,400,770
the sum of
3,008,905
the sum of
320,238
1,110,912
the sum of
1,110,912
the sum of
0
the sum of
dollars to be levied as a special tax for educational purposes; and
dollars to be levied as a special tax for operations and maintenance purposes; and
dollars to be levied as a special tax for transportation purposes; and
dollars to be levied as a special tax for a working cash fund; and
dollars to be levied as a special tax for municipal retirement purposes; and
dollars to be levied as a special tax for social security purposes; and
dollars to be levied as a special tax for fire prevention, safety, energy conservation,
disabled accessibility, school security and specified repair purposes; and
0 dollars to be levied as a special tax for tort immunity purposes; and
the sum of
0 dollars to be levied as a special tax for special education purposes; and
the sum of
0 dollars to be levied as a special tax for leasing of educational facilities
the sum of
or computer technology or both, and temporary relocation expense purposes; and
; and
0 dollars to be levied as a special tax for
the sum of
the sum of
0 dollars to be levied as a special tax for
on the taxable property of our school district for the year
2010
Signed this
day of
2010
.
(President)
(Clerk or Secretary of the School Board of Said School District)
When any school is authorized to issue bonds, the school board shall file a certified copy of the resolution in the office of the county clerk of each county in which the district is
situated to provide for the issuance of the bonds and to levy a tax to pay for them. The county clerk shall extend the tax for bonds and interest as set forth in the certified copy
of the resolution, each year during the life of the bond issue. Therefore to avoid a possible duplication of tax levies, the school board should not include a levy for bonds and
interest in the district's annual tax levy.
7
Number of bond issues of said school district that have not been paid in full
.
(Detach and Return to School District)
This is to certify that the Certificate of Tax Levy for School District No.
158
,
McHenry, Kane
Illinois, on the equalized assesed value of all taxable property of said school district for the year
was filed in the office of the County Clerk of this County on
,
County,
2010
2010
.
In addition to an extension of taxes authorized by levies made by the Board of Education (Directors), an additional extension(s)
will be made, as authorized by resolution(s) on file in this office, to provide funds to retire bonds and pay interest thereon.
The total levy, as provided in the original resolution(s), for said purposes for the year
2010
, is
(Signature of County Clerk)
(Date)
copy of ISBE Form 50-02 (08/2009) ctl2009.xls
(County)
$
.
Consolidated
Board of Education
President, Kevin Gentry
Vice President, Michael Skala
Secretary, Kimberly Skaja
Donald Drzal
Anthony Quagliano
Aileen Seedorf
Paul Troy
School District 158
Administrative Cabinet
Dr. John D. Burkey, Superintendent
Terry L. Awrey, Ed.S. Associate Superintendent
Dr. Mary M. Olson, Chief Academic Officer
Mark Altmayer, Chief Financial Officer / Treasurer
Jessica Lombard, Chief Human Resources Officer
650 Academic Drive, Algonquin, Illinois 60102 ▪ Phone: (847) 659-6158 ▪ www.district158.org ▪ EOE
CERTIFICATION OF TAX LEVY
President, Board of Education
I, the undersigned, duly elected, qualified and acting ________________________
Consolidated School District 158
of __________________________________
McHenry & Kane Counties, Illinois,
does
hereby certify that the attached Tax Levy filed with the McHenry & Kane County
Clerks on _________________,
20 10 is a true and correct copy of the Tax Levy of
December
said
District.
SEAL
Date: ___________________________________________
________________________________________________
Signature (Kevin Gentry, President, Board of Education, Consolidated School District 158)