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Schools

School District Action Extends Debt Repayment, Provides Tax Relief

New legislation from Springfield offers help for Valley View.

Although the State of Illinois may be behind on its bills, legislation signed by Gov. Pat Quinn in early March will help provide a little extra time for to repay its obligations. House Bill 5289 allows the school district to take up to five additional years to pay back its debt. 

Tuesday night, the Valley View Board of Education took advantage of the newly enacted legislation, voting to tack on an additional four years, extending its debt repayment from 18 to 22 years.

According to documents provided by Assistant Superintendent of Administrative Services Gary Grizaffi, the board’s approval of the refunding measures will:

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  • Provide property tax relief for the 2010 property tax bills payable in 2011 by reducing the tax levy by $4.8 million in 2011 and approximately $12.37 million less in debt service levies in 2012 through 2017.
  • Avoid the creation of a “wall” that a future board would have to address.
  • Keep future debt service levy increases to an acceptable dollar value.
  • Provide a focus to address the district’s structural deficit within the next five years.
  • Avoid dramatic staff cuts while addressing the district’s structural deficit.
  • Provide a window in which to improve academic achievement in the district.
  • Reestablish a capital improvements program into the district’s annual expenditure plan.
  • Maintain the district’s fund balances at an acceptable level.
  • Avoid the use of tax anticipation warrants for the next five years. According to the Illinois School Code, “Tax anticipation warrants are issued against taxes levied but not yet collected and are repaid from the taxes levied for the particular fund against which they are issued, either upon their receipt or on a specified maturity date.”

Teachers aide layoffs

The board also approved a recommendation by Executive Director for Human Resources Sharon Hawks to honorably dismiss 29 first- and second-year teachers aides due to budgetary constraints.

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Hawks said the district may have positions available for 14 of the 29 aides next year, and due to attrition, the other 15 employees may be called back at a later date.

She said that at this time, there is no need to lay off any certified staff members through a RIF (reduction in force) action.

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