Winnebago Trustees stay focused on fiscal year ahead

By Chris Johnson

News Correspondent

The tax levy for the upcoming fiscal year’s filing date has come and passed. The final Tuesday of December is a deadline put in place by the State of Illinois and they require things to be done in a timely manner. That means a governmental entity has a lot of work to do and a lot of steps to take, before they can file the cash inflow request. One of those requirements includes assuring the information is made available to the people, businesses and locations footing the bill. A public inspection period is mandated by those same policies.

For Trustees with the Winnebago Board of Education understanding how it all comes together is a gradual process. Things change, as in the value of various pieces of property within the school’s field of view.

During an earlier meeting Trustees learned from an area fiscal assistant how the tax levy process works and the role equalized assessed valuation plays in it.

Kim Garst explained through a power-point presentation how the value of a person’s property can slide up and down and is controlled by various national and international factors. It all feeds in together, Garst helped explain.

The presentation also highlighted the legal limitations and consumer price index as important aspects of the levy process. A profit can’t be gained by a non-profit entity so the development of an efficient budget can only be achieved after it is known how much there will need to be done, with the available funds to come. The largest percentage of funds received comes from the property tax payments of the district on their residential facilities. A percentage also comes from farm and commercial properties.

There is a lot to consider and a limit as to how much more, over last year, the entity can request without another step in a legal process such as a public hearing. Public notification still has to be achieved after the Board approves a motion to make it available for inspection.

When working within a school district certain funds have to be used in very specific ways. The construction of a new roof cannot be accomplished by taking money from the education or transportation funds. Trustees with the Winnebago Board of Education understand that. They also know there could be some even bigger changes coming.