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Board told Cook County has yet to collect July property taxes; Proviso Township investments earned 4% last year
Summary
The board heard that Cook County had not collected July property taxes and that Proviso Township expects to collect in October/November; last year the township's investments returned 4% and distributions to member districts follow collection.
Board members were told that Cook County had not yet collected July property taxes and that the township expects collection in the October/November timeframe. The district relies on Proviso Township to collect and invest those receipts on behalf of member school districts.
Board materials noted that last year Proviso Township's investments earned 4%, and that the township distributes investment proceeds to member districts after collection. District staff said an update on the collection timeline will be provided at the September board morning meeting.
