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Sycamore board weighs levy options as five-year forecast shows cash shortfall
Summary
Board financial staff told the Sycamore Community Schools Board that current forecasts project a cash shortfall by fiscal 2030 and outlined two main revenue options — a traditional real-estate millage and a residency-based earned-income tax — with differing timing, revenue and control implications.
The Sycamore Community Schools Board spent the bulk of its work session reviewing a five-year forecast that projects the district will meet its 25% cash-balance goal only through fiscal 2028, then face a growing shortfall by fiscal 2030.
Treasurer Jenny Logan told board members the district's permanent-improvement needs average roughly $5.4 million annually while existing annual transfers to the PI fund total about $4.1 million. "That average need, if you look at it and equate to millage, it's right about 2 mills annually just for needs," Logan said.
Why it matters: the board must decide whether to go to voters in calendar 2026 and, if so, whether to ask for revenue via a real-estate tax levy, an earned-income tax or a combination. Logan used a $350,000 home example…
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