MINOOKA, Ill. — While the state is behind in its payments to school districts, Minooka Community High School District 111 can expect to receive four payments again this year, said Superintendent Jim Colyott.
The caveat is that two payments will be money owed the high school district from the 2012 fiscal year and two payments will be for the current year.
“The state will continue being delinquent,” Colyott said. “The good news is we have not been told we won’t be getting reimbursed. We still hold on to the likelihood that we will get the payments.”
State Board of Education Superintendent Chris Koch has advised school districts there will be another 14 percent reduction this year in the Corporate Personal Property Replacement Tax, the same as last year, Colyott said.
That equates to approximately $181 million statewide.
“Those funds will continue to disappear for public schools,” Colyott said.
Cathy Macchietto, auditor for Macchietto, Roth and Company, gave District 111 a thumbs up Wednesday night for a clean audit.
As of the end of the fiscal year, June 30, the district had a pretty healthy balance in all accounts combined of $23 million cash on hand, Macchietto said. That’s in spite of the fact the district’s Equalized Assessed Valuation declined for the second year in a row.
The audit included a review of the district’s compliance to both new and old laws, as well as an internal control report.
“We had no negative findings to include in this report,” Macchietto said. “We were here for a better part of the week. They had a lot of information to give us in that time frame and they were very accommodating.”
District Business Manager Todd Drafall advised the board the Finance Committee will likely recommend the district’s levy be set at a level that will allow the district’s share of property taxes to be assesed at or near the current rate for the coming year.
Initial estimates from the three counties in the district – Will, Grundy and Kendall – have been received for the 2011 taxes payable in 2012. The current rate of 2.34 per $100 of assessed value is a challenge to maintain as real estate assessments have continued to drop in the last few years, Drafall said.
“We are looking at another decrease at about 6 percent, and that’s with $8 million in new construction coming on line,” Drafall said.
The Finance Committee will continue discussing the proposed levy and likely look for board approval in December. The levy must be adopted by the last Tuesday of that month.