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District finance director says Joliet Township’s reserves healthy despite projected CPPRT decline; $90 million construction drawdowns cited
Summary
Finance staff presented a five-year projection that shows a strong fund balance, conservative revenue assumptions, a projected dip tied to reduced corporate personal property replacement tax (CPPRT) receipts and a $90 million construction spend that used fund balance transfers.
The district’s finance office told the board Wednesday that Joliet Township High School District 204 remains in a healthy fiscal position, projecting a fund balance of roughly a year’s operating expenses over the five-year projection while noting a recent drop in corporate personal property replacement tax (CPPRT) revenue.
Dr. Hampton, the district’s finance presenter, summarized the five-year forecast and said property taxes account for about 70% of the district’s revenue, with 15% from the state and 5% from federal sources. The projection assumes a conservative 4% annual increase in equalized…
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