Berkeley SD 87 board adopts 2024 tax levy; district not required to file reserve-reduction plan under new law
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Summary
The board adopted the 2024 tax levy resolution after a presentation on Public Act 103-0394; administrators reported operating reserves are below the threshold that would require a state reserve-reduction plan.
Berkeley School District 87’s Board of Education voted to adopt the district’s 2024 tax levy resolution after a presentation on compliance with Public Act 103-0394, the state law that requires districts to calculate three-year average operating expenditures and disclose reserve balances.
Assistant Superintendent for Finance and Operations presented the public-act requirements and the district’s calculations. The district’s combined cash reserves did not exceed the statutory threshold (2.5 times the three‑year average of operating fund expenditures), so the board was not required to adopt or file a reserve reduction plan with the Illinois State Board of Education.
At the meeting the administration read the audited fund balances aloud as part of the public-act disclosure requirement. The figures were read into the record by district staff during the presentation. Administrators also presented the levy allocation and noted that the total levy amount for 2024 was $25,008,000 (the aggregate amount the administration estimated to be levied for the year). The presentation said the tentative levy included a reallocation of $300,000 from the IMRF levy to the Education Fund, with no change to the total levy.
The board also reviewed levy timelines required by state law: estimated levy approval (October), tentative levy (November), adoption (December), and filing with the Cook County Clerk by the last Tuesday in December. The presentation noted the district will learn new taxable property growth (the “new property” amount) in spring 2025 and that the district used the statutorily permitted 3.4% increase plus any new property growth as part of its levy calculations.
After the presentation the board adopted the 2024 tax levy resolutions by motion and roll-call vote. The resolution read at the meeting stated that public notice and a public hearing on the aggregate tax levy were not required because the proposed levy did not exceed the 105% threshold defined in the Truth in Taxation law.
Board members were given copies of the levy certificate and were informed that the president and secretary will sign and file the certificate with the Cook County Clerk before the statutory deadline.