Presentation on theme: "Www.neogacommunityalliance.com. Kristy Buescher - Who We Are."— Presentation transcript:
Kristy Buescher - Who We Are
Who We Are The NCA was formed in 2014 by parents, grandparents, business owners, educators, and community leaders to explore every option possible to maintain a strong, vibrant community. State funding of education has declined to the point that the Neoga School District is projected to have a large deficit in its general education fund in Given the dire circumstances, the NCA believes supporting a tax referendum is critical for Neoga to continue as a stand-alone school district.
Shawn Finney, CPA - Financial Timeline Illinois State Board of Education
Neoga School District to 2005 Reliant Energy challenges property tax rate Begin Fund Balance$2,525,745$2,979,527$2,895,977$3,358,487$4,327,558 Total Revenues$5,449,941$5,289,906$5,704,600$6,593,941$6,141,477 Total Expenses$(4,996,159)$(5,373,456)$(5,422,636)$(5,624,870)$(5,568,269) End Fund Balance$2,979,527$2,895,977$3,358,487$4,327,558$4,900,766 Surplus/(Deficit)$453,782$(83,550)$462,510$969,071$573,208 Property Tax Rate
Neoga School District to : PTELL starts for the district, new local tax rates set 2007: District pays back funds to Reliant of $2.8M 2008: New tax rates set; State begins to pay back funds due to Reliant change Begin Fund Balance$4,900,766$5,378,275$2,505,223 Total Revenues$6,131,370$5,510,402$7,492,925 Total Expenses$(5,653,861)$(8,395,132)$(6,502,539) End Fund Balance$5,378,275$2,505,223$4,070,417 Surplus/(Deficit)$477,509$(2,873,052)$1,565,194 Property Tax Rate
Neoga School District to Beginning Fund Balance $4,070,417 $ 4,364,530 Total Revenues$6,681,668 $ 6,648,654 Total Expenses $(6,406,377) $(7,151,317) End Fund Balance$4,364,530$ 3,861,907 Surplus/(Deficit)$ 294,113$ ( 502,623) Property Tax Rate : State funding for schools starts to decrease : Federal funds increase 2010: Geothermal & roof work begins on Neoga Schools
Neoga School District Federal Funding to 2014
Neoga School District to Begin Fund Balance$3,861,907$2,782,193$1,540,744$1,062,984 Total Revenues$6,790,440$6,498,918$6,826,360$6,730,971 Total Expenses$(7,870,154)$(7,740,367)$(7,304,120)$(7,260,209) End Fund Balance$2,782,193$1,540,744$1,062,984$599,546 Surplus/(Deficit)$(1,079,714)$(1,241,449)$(477,760)$(463,438) Property Tax Rate
Neoga School District to 2014
Neoga School District to 2014
Elementary School Closure BLDD Architects Inc, hired by the School Board Elementary school had the lowest overall score Combination of cuts and increased tax revenue needed Estimated savings over the first five years of the closure is approximately $1M School year ; Pre K - 12 Housed in two buildings on one campus The Elementary School building will remain vacant but maintained at a cost of $16,000 per year Future plans for Elementary School building?
Brian Titus - Tax Referendum Proposal
Why A Referendum Is Needed? Neoga Board of Education passed a motion to put a referendum on the ballot for the amount of $800,000. This amount is essential to bridge the gap between the existing shortfall of current revenue and expenses so the Neoga School District can operate in the black. The sustainability of our district will be directly and immediately impacted by the referendum decision on April 7 th.
Property Tax Rates School District 2014 Base Tax RateBond Rate 2014 Total Tax Rate Effingham Beecher City Windsor Teutopolis Cumberland Dieterich Altamont Neoga Stewardson Strasburg Mattoon
Estimated Property Tax Rates Based on Referendum passing School District 2014 Tax Base RateBond Rate 2014 Total Tax Rate Effingham Beecher City Windsor Teutopolis Cumberland Dieterich Altamont Stewardson Strasburg Mattoon Neoga New proposed rate for
Estimated Increase in Property Tax Based on Tax Referendum passing 2014 Payments vs Estimated Payments 2014 payments $1,000$2,000$3,000$4,000$5,000$6,000 Estimated 2015 payments $1,171$2,342$3,533$4,684$5,855$7,025 Average increase $171$342$513$684$855$1,025
Examples of Options If A Referendum Is Not Passed? Consolidation Consolidate – Casey-Westfield Detachment/Annexation – Arthur-Lovington & Atwood - Hammond Deactivation – Rossville Alvin allowed to go to Bismarck - Henning or Hoopeston Area Dissolution/Annexation – West Richland (Noble) dissolved into East Richland (Olney)
Estimated Property Tax Rates Tax Referendum passes vs. Consolidation/Dissolution into other districts School District 2014 Tax Base RateBond Rate Borrow Future Revenue 2014 Total Tax Rate Effingham Teutopolis Cumberland Beecher City Altamont Dieterich Windsor Mattoon Stewardson Strasburg Neoga Estimated proposed rate for
2014 Payments vs. Estimated Future Options Using a $3,000 Property tax bill 2014 property tax bill$3,000 Effingham$3,032 Teutopolis$3,064 Cumberland$3,099 Altamont$3,101 Beecher City$3,101 Dieterich$3,113 Windsor$3,251 Mattoon$3,419 Stewardson Strasburg$3,438 Estimated 2015 bill if referendum passes$3,513
April 7 th is a significant date for the future of our school district & community. The landscape of our community will change. This will directly impact our entire community. What legacy are we beginning for our future generations? Focus On The Future