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Audit report shows everything in order with district finances

Board divided on intervening in property tax appeal by local business

Published: Friday, Aug. 9, 2013 10:00 a.m. CDT

COAL CITY — Coal City Unit School District 1 had a clean financial audit, a representative from Mack and Associates told the board Wednesday.

The representative, Lauri Pope, said the district has benefitted from a “very proactive relationship” with the auditors, in which District 1 makes sure it is accounting correctly.

“What you always look for is a clean audit,” said Superintendent Kent Bugg. “That’s what we got.”

Bugg also said that he was pleased the fund balances were within expected ranges.

According to a summary of the audit, the district’s financial statement disclosures were “neutral, consistent and clear” and there were no significant difficulties in performing the audit.

Tax Appeal

The board also discussed a Property Tax Appeals Board appeal from Diamond Liquors at 55 Daly Street in Diamond.

The business is requesting a reduction in its equalized assessed value. Bugg said the board had intervened in such matters in the past, and sought the board’s opinion.

The EAV brings in about $4,000 in tax money for the district, according to Bugg.

“Past practice has been to intervene,” Bugg said.

While some board members wondered if they should hold to precedent, others felt the amount of revenue brought in by this business was not enough to warrant intervention.

“We should set a dollar amount,” said Board Member Quint Harmon. “[Four thousand dollars] is a waste of money.”

Harmon said the legal expenses required to intervene would likely offset the revenue brought in by the EAV.

Bugg suggested the possibility of “intervening up to a point.”

“We’ve got a long time to pull the plug,” he said.

The board decided to see if the parties involved could come to an agreement.

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