The Cook County School Board I.S.D. 166 adopted the 2016 levy payable in 2017 at its regular meeting on Thursday, December 15.
The levy of $1,742,872.80 represents an increase of $800 per student, which equates to 54.58 percent more than last year’s levy, according to District Business Manager Laurie Backlund.
As required by law, the district held its Truthin Taxation meeting on Thursday. The meeting was held at 6 p.m. with one person from the public attending. Superintendent Dr. William Crandall gave a history of the levy from 2011 to the present.
In November Cook County voters approved $800 per student per year ($642,578.27 for 2017) for six years, but Backlund said if finances improve, the district isn’t required to levy that much each year.
Declining enrollment has challenged the school’s finances for the last several years.
“The increase was voted in by voters of Cook County,” said Backlund. “Without that vote the school board was going to decrease the levy by 2.2 percent.”
Backlund added that the levy is spread out to seasonal recreational property owners as well as residential owners.
During the presentation, it was reported on June 30, 2016, the district audited fund balance was $539,501, which was up substantially from past years. The fund balance is used in case of emergencies. It cost the district about $30,000 per day to operate K-12, and typically districts like to have from 20 to 45 days of cash on hand.
Backlund said only about 15 percent of the district’s revenue comes from the levy. Other local sources account for 40 percent of the levy, while state funds are 55 percent and federal funds account for 5 percent.
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