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

2. Levy cycle Taxes levied in 2016 Payable in 2017
For use in FY2018 ( ) school year

3. 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

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

5. 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

6. 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

7. 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

8. 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

9. 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

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

11. 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

12. 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

13. 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

14. 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

15. 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 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

16. Discussion and Questions