Fieldcrest CUSD 6 December 21, 2016 FY17 Levy Presentation Fieldcrest CUSD 6 December 21, 2016

Levy cycle Taxes levied in 2016 Payable in 2017 For use in FY2018 (2017-2018) school year

Levy categories Education Operations and Maintenance Transportation Working Cash IMRF Social Security Fire Prevention, Safety, Energy Conservation, Disabled Accessibility, School Security, and Specified Repair Tort Immunity

Levy categories (2) Special Education Leasing of Educational Facilities, Computer Technology, Temporary Relocation Expenses Bond and Interest

Levy rules – Capped Levies Amount of levy capped in Education, Operations and Maintenance, Transportation, Working Cash, Special Education, and Lease District cannot receive more in these than voters have already approved without the sale of bonds or similar

Levy rules – “Ask For” levies IMRF/SS, Tort Immunity, and Fire Prevention are “Ask For” levies This means that the district can ask for the amount needed to pay the bills Fire Prevention is an “Ask For” levy, but must be approved by the State of Illinois first

Levy rules – Bond & Interest Bond & Interest levy is set by the County Clerk County Clerk will assess amount needed to make Bond & Interest payments Based solely on current bonded indebtedness of district

Quirks in levy system District must ask for levy before property values are known, although assessors have estimates District must also ask for levy before budgeting process for the year levied for begins Therefore, the district must ask for levy based on generalizations and estimates Based on this system, the district will always ask for more than it thinks will actually be available However, the district can NEVER levy for more than is allowed by either voters (capped funds) and/or law

Property tax determination County assessor determines property value and EAV School district determines estimated tax rates (TR) and submits to county clerk County clerk determines property taxes as follows: EAV * TR / 100

Historic district EAV 2016 – $147,289,175 2015 – $145,876,749 2014 - $140,946,045 (wind farm addition) 2013 - $116,316,017 2012 - $114,800,822

Historic Tax Rates - Calculated Fund 2105 2014 2013 2012 2011 Education 3.6250 B&I 0.2118 0.2079 0.2314 0.2767 0.2759 Building 0.4950 IMRF 0.1698 0.1646 0.1987 0.2385 0.2309 Transportation 0.2000 Working Cash 0.0500 Fire Prevention Special Education 0.0400 Tort Immunity 0.2037 0.2057 0.1136 0.1193 0.1525 Social Security 0.1358 0.1053 0.1242 0.1491 0.1786 Lease Total tax rate 5.2311 5.1911 5.1779 5.2936 5.3489

Historic Property Taxes Extended Fund FY17 FY16 FY15* FY14 FY13 Education $5,281,781 $5,288,032 $5,109,294 $4,216,455 $4,161,529 B&I $303,110  $303,277 $326,149 $321,846 $317,883 O&M $721,228 $722,089 $697,682 $575,764 $568,264 IMRF $239,976 $240,133 $280,059 $277,413 $265,075 Transportation $291,403 $291,753 $281,892 $232,632 $229,601 Working Cash $72,841 $72,938 $70,473 $58,158 $57,400 Fire Prevention $72,851 Special Education $58,279 $58,350 $56,378 $46,526 $45,920 Tort Immunity $299,908 $300,068 $160,114 $138,765 $175,071 Social Security $150,056 $150,107 $175,054 $173,427 $205,034 Lease Total $7,564,294 $7,572,607 $7,298,045 $6,157,304 $6,140,581

Anticipated 2017 EAV ~1% increase estimated Value is not yet fully set, as state must apply multipliers and approve final values Won’t know actual EAV until some time in spring of 2016 Therefore, the district levy request is higher than the district will be eligible to receive from the actual EAV

Tax levy 2016 Fund Levy (ask for) amount Education $5,920,141 B&I $0 at this point O&M $808,405 IMRF $200,000 Transportation $326,628 Working Cash $81,657 Fire Prevention Special Education $65,326 Tort Immunity $300,000 Social Security $175,000 Lease Total $8,040,471

Levy Results Anticipated tax rate between $5.00 and $5.05 Actual tax rates will be released with property tax bills Annual AFR posted online carries historic tax rates and actual extensions Expected increase in tax dollars received likely in 1% range, regardless of “ask for” No bonds to be paid for in 2017-2018 school year as of this time – that could change if building needs or lack of state fund distribution occurs and bonding is required to cover costs/bills

Discussion and Questions