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Getting Numbers Ready for a Referendum

Getting Numbers Ready for a Referendum. Presented by the IASBO Principles of School Finance Committee March 1, 2007. How to Determine Budget Reductions. Meet with Administrative Team Review District’s goals Consider outsourcing: Custodial/maintenance Security Transportation

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Getting Numbers Ready for a Referendum

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  1. Getting Numbers Ready for a Referendum Presented by the IASBO Principles of School Finance Committee March 1, 2007

  2. How to Determine Budget Reductions • Meet with Administrative Team • Review District’s goals • Consider outsourcing: • Custodial/maintenance • Security • Transportation • Consider postponing non-critical capital projects • Do not fill staff positions left vacant from retirements & resignations

  3. Other Revenue Options • General state aid – review district’s processes to insure maximum amount is being received • Review all state & federal grant options • www.isbe.net - FY 08 ISBE budget for description of available grants • Developer fees • If self-funded, increase employee contributions to health care (e.g., deductions & co-pays). • Increase student fees • Most taxpayers don’t have children in your schools & may prefer having parents pay more of the costs first. • Participation fees (e.g., athletics), AP exams, parking

  4. How Much of a Tax Increase is Needed? • Taxpayers want to be assured that the district has cut as much as possible without hurting programs and have maximized their revenue. • What are the district’s goals? • Politics are involved • What do you want to communicate to your community? • Will successful referendum sustain the district through 5 or 10 years of fiscal solvency?

  5. Tax Increase (cont.) • Prepare financial forecasts for at least 5 years • Consider: • Enrollment • EAV growth • Tax increment financing (TIF) being added back to the tax rolls as new property • Employee retirements may slow down salary increases as they’re replaced with less expensive staff.

  6. County Agency Tax Rate Reports • Meet with your county extension office to understand: • Financial impact your referendum will have on your district • Rate increase factor • Phase-in effects of referendum • There are still going to be unknowns in projecting property tax revenue • EAV • New property growth

  7. Cook Co. Agency Tax Rate Schedule Prepared by Dist. 219

  8. Dist. 219 Schedule (cont.)

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