Property tax distribution funds are now beginning to flow into the coffers of local school districts after months of delay, but the amounts are wildly divergent.
Riverside District 96 interim finance director Mark Kuzniewski said his district has received the bulk of the funds owed to his district, roughly 70%.
“It is a good thing,” Kuzniewski said. “It puts us in a position where we don’t have to be thinking about Tax Anticipation Warrants or anything like that. An Illinois Tax Anticipation Warrant bridges the time between tax levy and tax collection, allowing public entities like school districts to pay imminent expenses.”
But down the road, at Brookfield-La Grange Park School District 95, Supt. Ryan Evans had a very different number.
“We got the 20% and are awaiting the trueing up of those dollars, the delta between 20%and the 100%,” Evans said, adding his district received its initial funds on Dec. 29.
“It’s a start, but remember, we were supposed to receive these funds months and months ago.”
Districts 95 and 96, along with Riverside-Brookfield High School District 208, are part of the Proviso Township School Treasurer’s Office, which provides consolidated financial services to many area districts, in order to maximize interest earnings through pooled funds investing.
A good chunk of that interest is now gone. In fact, Evans said some county-wide estimates show $121.8 million in losses due to lost interest and the need for tax anticipation warrants, among other things.
“The damage has been done and everything has not been resolved,” Evans said, adding that western Cook County school superintendents have been encouraged to attend the next county commissioner’s meeting Thursday morning “to start asking questions.” Evans said he wasn’t sure he would be going. Kuzniewski said he won’t be going.
At District 208, Supt. Kevin Skinkis said his district has received between 40% and 50% of revenue expected from tax bills via two installments.
“We are hopeful a third installment will be received this month,” he said.
Why the property tax distribution funds have been inconsistent locally is a mystery. A representative from the Cook County treasurer’s office did not respond to a request for comment Monday.
But it’s still a problem for all Cook County districts, Kuzniewski said.
“This is the second time in my career where tax collections were significantly late,” he said. “It puts a strain on school districts. It would benefit everyone if Cook County can issue their bills that they’re supposed to so we’re not in this spot.”
The one issue across the board is that teachers and staff at local districts, along with school boards, have not expressed concern about the delay in property tax distribution.
“At this time, no additional concerns have been expressed by district employees or the board regarding the remaining tax revenue,” Skinkis said. “The receipt of the two installments at the end of December helped alleviate much of the anxiety. That said, the district would certainly benefit from receiving the remaining funds as soon as possible, particularly with the March tax bills approaching.”
Like Kuzniewski, Evans said he has kept his board on point with the situation as it has unfolded.
“I’ve kept them abreast of the situation so they are aware of what’s going on,” he said. “We haven’t had to make TAWs as of yet, we haven’t missed payroll. Those are the things which would cause concern.”
