Debt Service Extension Base Information...$175 $52.01 $74.55 $149.12 $200 $59.44 $85.20 $170.42 $225...
Transcript of Debt Service Extension Base Information...$175 $52.01 $74.55 $149.12 $200 $59.44 $85.20 $170.42 $225...
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DISTRICT HISTORY
1917 Auburn Township HS ($50,000)
1948 Referendum ($240,000)
Two-story section of present elementary
Gym / Cafeteria / Kitchen
Became K-12 district
1954 Referendum ($130,000)
AG/IT shop area
Band / Vocal music room
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DISTRICT HISTORY
1966 Referendum ($585,000)
Purchase of 10 Acres / Football Field
Original junior high building (present old section of MS)
1974 Referendum Passed (1.06 to 2.07)
795 “YES” 444 “NO
1978 Referendum ($2,080,000)
New HS (16 rooms, offices, library, gym)
Addition to elementary (12 rooms)
Demolition of 1916 building
Span of 67 years / Bonds totaling ($3,085,000)
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DISTRICT HISTORY
1981 Bus Garage / 7 bay
Cash on Hand ($29,855)
1984 Addition to elementary / 7 rooms
Cash on hand ($241,357)
1986 Addition to elementary / 8 rooms and
Demolition of 1913 elementary building
Cash on hand ($341,442)
1987 All buildings in full compliance for health, life, safety
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DISTRICT HISTORY
1987 Full day kindergarten
1989 Pre-kindergarten
1993 Addition to elementary / 6 rooms & restrooms
Cash on hand ($472,257)
1995 Addition of second bus garage & press box
Cash on hand ($48,006)
1998 Bonds paid in full
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DISTRICT HISTORY
2000 MS / HS Addition
Gym / Locker rooms/ Cafeteria / Kitchen / Offices /
12 Classrooms / storage (present unit office)
Total cost of $4.5 million
State grant ($2,678,899)
Cash on hand ($1,766,262)
2000 All Weather Track
Total cost of $200,000
State grant ($125,000)
Cash on hand ($75,000)
Donated labor & equipment ($25,000)
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DISTRICT HISTORY
2001 Sports Complex – Locker rooms & restrooms
Cash on hand ($276,000)
2002 Addition to bus garage
Cash on hand
2004 Remodel of storage into district office
Cash on hand
2006 Purchase of 68 acres for future expansion
Cash on hand
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DISTRICT HISTORY
2007 Annexation of Divernon
2007 Addition of bus garage at Divernon
Cash on hand
2007 Renovation of shop area for band at Divernon
Cash on hand
2008 Installation of new bleachers & refinish gym floor at Divernon
Cash on hand ($70,000)
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DISTRICT HISTORY
2007 – 2009 Purchase of three properties contiguous to schools ( 1 at Divernon, 2 in
Auburn)
Cash on hand
2009 Replacement of HVAC at Auburn Elementary
Health, Life, Safety Bonds ($1,900,523)
2010 Repair of MS from water damage / Resurface of all-weather track / Refinish HS
gym floor
Cash on hand ($202,000)
Dollars bonded over past 92 years = $4,985,523
Age of facilities – 10-60 years (average of 32 years)
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REFERENDUM HISTORY
The last permanent tax increase was nearly
40 years ago.
December 17, 1974
Education Fund Rate Increase
It went from
1.60 to 2.07.
795 “Yes” votes
444 “No” votes
Auburn currently has the lowest
tax rate in Sangamon County
4.00
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CURRENT FACILITY NEEDS
BASED ON 2012 ESTIMATES Health, Life, Safety Needs for ALL buildings
Age of buildings
Required maintenance
Required upgrades to be up to code
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HS / MS COMPLEX NEEDS
Roof Replacement (all sections except MS gym)
$804,217
HVAC Replacement (1956 HS, 1969 MS, 1978 HS)
$2,468,991
Window Replacement (1969 MS)
$73,580
Lighting Replacement (1956 HS, 1969 MS, 1978 HS)
$262,922
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HS / MS COMPLEX NEEDS
Building perimeter (parking / sidewalks)
$110,279
HS / MS Complex Total Cost
Brings facilities into full compliance for Health, Life, Safety
$3,719,989
Anticipated energy savings over long-term
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DIVERNON COMPLEX NEEDS
Roof replacement (1976 section, except gym)
$169,652
HVAC replacement (1966 & 1977 areas)
$1,588,301
Window replacement (1930 & 1977 gym areas)
$78,444
Lighting replacement (1977 gym areas)
$20,786
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DIVERNON COMPLEX NEEDS
Building perimeter (sidewalks, drive, parking)
$20,446
Total Cost for Divernon Complex
Brings facility into full compliance
$1,877,629
Anticipated energy savings over long-term
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ELEMENTARY COMPLEX NEEDS
Roof Replacement (Gym & Cafeteria)
$281,268
Window Replacement (1950 & Cafeteria)
$253,061
Lighting Replacement (All sections)
$216,215
Building Perimeter (Playground & Parking)
$39,591
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ELEMENTARY COMPLEX NEEDS
Auburn Elementary Total Cost
Brings facility into full compliance for Health, Life, Safety
$790,135
HVAC Upgrades
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10,000
20,000
30,000
40,000
2007 2008 2009 2010
Elementary HVAC Usage
Gas Usage (therms)
Electic Usage (therms)
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PROJECTED COSTS
$6,700,000 for all building repairs and improvements (includes the $250,000
lighting grant)
All repairs and improvements were cited in the 10 year Health, Life, Safety study
conducted by architect
Required upgrades and repairs to remain in compliance with state health, life, safety
codes
Lighting will be required to be replaced in the near future (energy efficiency
requirements)
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WHY IS THIS BEING ADDRESSED NOW?
10 year survey completed after annexation – 2007
Board tried to issue bonds at that time
Law was unclear if district was under tax caps
Bond counsel would not give clean opinion until tax cap question was answered
Tax Cap question had to go through court system
Supreme Court decision in 2010
County Clerks would not allow question on ballot until it was determined that district
was under tax caps
Sales tax for school facilities did not pass in county
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BALLOT QUESTION
Shall the debt service extension base under the Property Tax
Extension Law for Auburn Community Unit School District
Number 10, Sangamon and Montgomery Counties, Illinois, for
payment of principal and interest on limited bonds be increased
from $144,087.55 to $1,000,000 for the 2013 levy year and all
subsequent levy years, such debt service extension base to be
increased each year by the lesser of 5% or the percentage
increase in the Consumer Price Index during the 12-month
calendar year preceding the levy year?
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WHAT DOES A TAX CAP (PTELL)MEAN?
Tax caps limit the amount of money that can be extended to a district based on the
consumer price index increase of the previous December -New property is not
under the cap
Limit is on the total tax dollars for the district
Example
District receives $3,000,000 in total tax dollars for 2011
Consumer price index is 1.5%
District is limited to a 1.5% increase on $3 million dollars
District receives $3,045,000 in total tax dollars for 2012
Non-tax capped district could receive $3,150,000 in total tax dollars (without
hearing)
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WHAT IS A DSEB?
Limitation on the principal and interest that a district can levy to repay loans or bonds
each year
Requires voter approval to increase the limit on principal and interest that can be
repaid each year
District’s DSEB established in 1996
Tax Capped districts have DSEB
Non-tax capped districts do not have DSEB
Auburn is a tax capped district (Supreme Court Decision) 2010
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COMPARISON
D S E B I N C R E A S E
Can sell bonds to make needed repairs and upgrades
Flexibility in repayment Tax increase
Annual HLS tax levy
Other district funds
Grants
Allows for flexibility in scheduling needed work
H L S B O N D S
Can sell bonds to make
needed repairs and
upgrades
Repayment
Tax increase
Would need to have a
referendum each time
bonds need to be sold
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HOW WOULD INCREASING THE DSEB AFFECT TAX
BILLS?
Factors that impact rate
Taxable value of property (1/3 assessed / “market” value)
Assessed value of all property in the district
Interest rates for bonds / loans
Length of maturity of bonds / loans
Amount of money that is borrowed
Prioritization of repairs, upgrades versus all repairs, upgrades
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TAX RATE SUMMARY AS OF FEB. 2013
$2,300,000 $3,310,000 $6,635,000
G.O BOND G.O. BOND G.O. BOND
Avg. Annual Debt Service $300,000 $430,000 $860,000
Est. Bond & Interest Rate Inc. 29.72 42.60 85.21
HOMEOWNER TAX INFO
MARKET VALUE / TAXABLE VALUE ANNUAL TAX INCREASE
$50,000 $10,667 $31.70 $45.44 $90.89
$75,000 $19,000 $56.47 $80.94 $161.90
$100,000 $27,333 $81.23 $116.44 $232.91
$150,000 $44,000 $130.77 $187.44 $374.92
$200,000 $60,667 $180.30 $258.44 $516.94
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TAX RATE SUMMARY AS OF FEB. 2013 $2,300,000 $3,310,000 $6,635,000
G.O BOND G.O. BOND G.O. BOND
Avg. Annual Debt Service $300,000 $430,000 $860,000
LANDOWNER TAX INFORMATION
Annual Tax Increase per 100 acre plot
Avg EAV per Acre
$150 $44.58 $63.90 $127.82
$175 $52.01 $74.55 $149.12
$200 $59.44 $85.20 $170.42
$225 $66.87 $95.85 $191.72
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WHEN WILL BOARD DECIDE ON PRIORITIES FOR
REPAIRS AND UPGRADES?
Outcome of April 9 ballot
Yes vote-discussions will begin in April 2013 concerning future needs, prioritization
of work, time frame for selling bonds, securing bids
A public hearing is required before any bonds are sold
The date, time, and location of the hearing is required to be publicized in the local
newspaper.
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QUESTIONS?
If you have questions , please feel free to email
me at [email protected]
or call me at (217) 438-6164.
Darren J. Root
Superintendent
Auburn Community Unit School District # 10
mailto:[email protected]