Tax Rate Prop

8/13/2019 Tax Rate Prop

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STAUNTON COMMUNITYSCHOOL DISTRICT #6

Tax Rate Referendum

March 18, 2014


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Why a Tax Rate Increase?

Low Tax Rate

Loss of Revenue

PTELL

Staunton CUSD #6 Fund Balances and Loss of Revenue

Fund Balances6/30/11 6/30/12 6/30/13 6/30/14*

Education 4,417,895 3,259,106 2,297,135 1,567,666

Building 682,447 693,395 844,341 525,991

Debt Service 33,656 26,659 47,800 47,259

Transportation 295,023 206,179 396,409 419,946

Municipal Retirement 524,803 561,270 560,490 552,816

Working Cash 1,083,415 1,130,192 1,182,434 1,236,183Tort Immunity 67,872 25,778 53,387 78,963

Fire Prevention & LifeSafety 1,559 41,223 80,764 49,763

TOTALS 7,106,670 5,943,802 5,462,760 4,478,587

* Projected Balances 6/30/14


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Loss of Revenue in State Funding

$800,000 + in last 3 years

Grants have been cut

Delayed mandated payments for fiscal year(State is always behind in payments)

General State Aid (GSA) is prorated at 89%

The Illinois General Assembly has cut theK-12 statewide budget by more than $850million between Fiscal Year 2009 and 2013


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Property Tax Extension Limitation Law(PTELL)

The PTELL is designed to limit the increases in property tax extensions (total taxesbilled) for non home ruling taxing districts.

Although the law is commonly referred to as tax caps, use of this phrase can bemisleading. The PTELL does not capeither individual property tax bills or

individual property assessments. Instead, the PTELL allows a taxing district to

receive a limited inflationary increase in tax extensions on existing property, plusan additional amount for new construction.

The limit slows the growth of revenues to taxing districts when property values andassessments are increasing faster than the rate of inflation.

If a taxing district determines that it needs more money than is allowed by thelimitation, it can ask the voters to approve an increase.

Increases in property tax extensions are limited to the lesser of 5% or the increase inthe national Consumer Price Index (CPI) for the year preceding the levy year.The limitation can be increased for a taxing body with voter approval.


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Staunton CUSD #6

$2.9428 - 2014 (Current Levy)

$2.9559 1985 Levy

29 years ago the Tax Rate wasmore than it is today


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A Comparison to Other SchoolDistricts


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A Comparison to Other SchoolDistricts(cont.)


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A Comparison to Other SchoolDistricts(cont.)


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Proposed Tax Rate Increase

An estimated 1.00 increase ($0.9956) would increase the 2014/2015 Overall Tax Rateto $3.9385. This would increase the tax amount in dollars to approximately $1.1million dollars.

The last time a tax rate increase was proposed in Staunton was 1994. The SchoolDistrict passed a Bond Referendum for construction of the Multi-Purpose Building

as a result of a fire. It was a Life-Safety Bond referendum for new construction.

The referendum was March 15, 1994 and it passed. It has been 20 years since thisreferendum. The Referendum Committee identified themselves as RESQ Retaining Essential School Quality

The new tax rate increase upon a successful vote became $3.9905 for 1994.

We are proposing an increase to $3.9385 for 2014. This is less (0.052) than thevoter approved increase for 1994, 20 years ago.

1994 Tax Rate 2014 Proposed Tax Rate

3.9905 $3.9385


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Staunton CUSD #6

History of Tax Rate

Current Levy - $2.9428

Year Levy

1980 $2.8736

1985 $2.95591990 $3.2796

1992 $3.3905

March 15, 1994 Tax Rate Referendum Increase Passed

1994 $3.9905

March 18, 2014 Tax Rate Referendum Increase If passes

2014 $3.9385

The increase would be less than the Tax Rate Referendum that passed 20 years ago.

The increase would generate approximately $1.1 Million additional money for the

operation of the school district


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Life Safety Bonds

The school district plans to make Life Safety improvements to the facilities.

These are: Replace selected HVAC units in ElementaryReplace roofs in Elementary, Junior High, and High School(Elementary Hallway, Community Room, Main Gym Lobby, Ag Shop, and Auditorium)

Two state grants have been applied for. Both are matching grants.They are: Maintenance Grant $ 50,000

Energy-Efficient Grant $225,000$275,000

FGM projected cost to complete all projects to be $645,000.$400,000 in Life Safety Bonds

Depending on Grants awarded and final costs, Bonds will be utilized to paythe difference.

This would increase Tax Rate from one cent (.01) to one and a half cent(.015), pending funds needed to complete project.


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Worst Case Scenario - Annexation

Staunton $2.9428 (Current) / $3.9385 (Referendum)

Tax Rates (Current)

Mt. Olive #5 (Wildcats) $4.7120Gillespie #7 (Miners) 3.8966

Bunker Hill #6 (Minutemen) 3.7759

Edwardsville #7 (Tigers) 4.1451

Highland #5 (Bulldogs) 4.6669

A school district annexing to another school district would maintain its owndistrict debt. It would assume the Tax Rate of the school district it isannexing to. There is NO CHOICEin this scenario.


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Tax Rate IncreaseReferendum

March 18, 2014

Ballot Question

Shall the limiting rate under the Property TaxExtension Limitation Law for StauntonCommunity Unit School District Number 6,Macoupin and Madison Counties, Illinois, be

increased by an additional amount equal to1.000000% above the limiting rate for schoolpurposes for levy year 2012 and be equal to3.802780% of the equalized assessed value ofthe taxable ropety therein for levy year 2014?

Yes

No

Documents

Tax Rate Prop