Minooka CHSD 111 presents strong balances, approves tentative $20.25 levy and $750,000 IMRF payment
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Summary
At its Dec. 20 meeting the Minooka Community High School District 111 board heard a levy presentation showing strong fund balances and rising equalized assessed value, approved a tentative $20.25 levy and a $750,000 payment to reduce the district's IMRF unfunded liability.
Unidentified Presenter opened the district's annual 2025 levy hearing and said statutory notice requirements had been met. The presenter outlined the district's fund balances as of Nov. 30, including a capital fund of about $34.8 million, a fire prevention/health-life-safety balance of about $6.6 million and an IMRF fund near $2.0 million. "We have very strong fund balances in all funds," the presenter said during the hearing.
The presenter noted a recent law, grounded in concepts from the Illinois Supreme Court case Central Illinois Public Service v. Miller, that limits combined balances in the Education, Operations & Maintenance and Transportation funds to no more than 2.5 times their combined three-year average expenses; the district's calculated ratio was 0.65, well below the statutory limit. District staff also contrasted that statutory cap with the board's internal policy directing combined fund balances and working cash to remain in the 15—20% range, and said the district's fund-balance-to-revenue ratio is roughly 135%.
Administrators emphasized the levy's role in local revenue (about 84% of local funding) and described recent growth in equalized assessed value (EAV). The presenter said district EAV rose roughly 77.5% over nine years and estimated another 15% increase in 2025, driven by industrial assessment settlements (including an agreement listed with Equistar/LyondellBasell), new subdivisions and an Equinix data center under construction. "That will continue to pay dividends for the district going forward," the presenter said.
On action items the board considered the district's 2025 levy request and voted to approve consideration and possible approval of a $20.25 tentative levy as presented. The board also approved a motion to contribute $750,000 from the IMRF fund balance to pay down the district's IMRF unfunded actuarial accrued liability (UAAL). Administrators explained the timing: paying in December can reduce the district's IMRF rate statewide starting in the subsequent rate cycle, which staff said could help lower future costs.
The meeting record shows the motions passed by roll call. The board also discussed—not levied for—health-life-safety this year because fund balances in that category were sufficient to cover planned projects.
The board listed several follow-up items: bringing more detailed proposals on capital projects (field repairs, window replacements, chiller replacement options) and projecting enrollment impacts from several developments. Administrators said staff would return with more specific cost estimates and funding plans for those projects.
The board's next procedural step for the levy is to finalize any adoption timelines required by the county clerks; the presenter reminded the board that levies must be filed with county clerks (electronically is permitted) by the last Tuesday in December.