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District 211 board accepts 2024 recapture levy after reviewing updated five-year projections
Summary
Superintendent Dr. Small presented an updated five-year projection citing rising health benefit costs and a spike in property tax refunds; the board voted to accept the 2024 recapture levy for the full amount extended by the Cook County Clerk.
The Township HSD 211 Board of Education voted to accept the 2024 recapture levy in the full amount extended by the Cook County Clerk after Superintendent Dr. Small presented an updated five‑year financial projection that incorporated higher-than-expected health benefit costs and a large increase in property-tax refunds.
Dr. Small told the board the recapture levy available to the district is $4,200,000. "The recapture levy is $4,200,000, which would increase the fund balance by approximately 1% each year, [and] would have a financial impact on the average taxpayer of $40 a year," Dr. Small said. The superintendent said the updated projection adjusts for a roughly $2,500,000 increase in employee health‑benefit costs compared with the fall budget and a $4,500,000 revenue adjustment to reflect a high property‑tax refund rate.
Board members discussed the district's fund-balance policy and state guidance. A board member asked whether the Illinois State Board of Education requires a 25% minimum fund balance; Dr. Small said the state issues a financial-profile score and that a district with about six months of reserves receives the highest score. When asked for a ballpark of six months of operating expenses for District 211, Dr. Small responded "Roughly a 100 and, 50,000,000," indicating about $150,000,000.
After discussion, the board approved the recommended motion to accept the recapture levy. The public record shows the motion carried.
Why it matters: the levy increases the district's near-term reserves and affects levy collections distributed by the county clerk. Board policy sets a 33% minimum fund balance; the inclusion of the recapture levy in the projection alters projected balances and the district's approach to multi‑year budget planning.
No additional reductions or program decisions were made in the meeting; the board accepted the levy amount presented and asked administration to continue monitoring health‑benefit costs and the refund rate in future projections.
