September 9, 2014
Dear District 15 Community,
Are you concerned about your property taxes? You should be.
District 15 is heading down the slippery slope of deficit spending, which ultimately leads to higher taxes.
The budget for this year authorizes a $4.0 million deficit and is on the agenda for approval by the Board this [...]
UPDATE 3/31/2014: The misleading reporting issue that is the subject of this post was largely corrected by District 15 starting with financial reports issued in March 2014. For financial reports issued from October 2013 through February 2014 you would need to carefully consider the impact of the double-counting issue noted here for District 15 revenue [...]
Illinois is currently responsible for the employer pension contribution for the Illinois Teachers’ Retirement System (TRS), while Chicago is responsible for the Chicago Teachers’ Pension Fund (CTPF).
As a result, the Illinois TRS contribution has been described by Illinois Speaker Madigan and others as a “Free Lunch” for suburban and downstate school districts during pension [...]