The Commercial-News, Danville, IL

Local News

October 19, 2013

D118 considers holding line on taxes

Expects 3.6 percent EAV decrease

DANVILLE — Members of the Danville School District 118 board will consider a 2013 tax levy proposal Wednesday in which the district would collect no new dollars.

Of the four scenarios presented to the district’s finance committee earlier this week, Option 2 is the one that will be recommended to the full school board on Wednesday, Superintendent Mark Denman said.

Option 2 proposes the district collect no new tax dollars beyond the amount it collected this year. The 2013 tax rate, payable in 2014, would be set at $5.31 per $100 equalized assessed valuation (EAV), which would be an increase of 0.04 percent in tax revenue compared with the current year’s tax rate of $5.06 per $100 EAV. Even if the district levies for a 0 percent increase or decrease, it still will collect 3.6 percent less funds than this year because of a projected 3.6 percent decrease in property values.

Denman said if the board members agree with this tax levy proposal, the district would have to adjust its non-restricted funds in its budget to cover expenditures since no new additional money would be coming into the district’s coffers. The district would use its current fund balances to cover the difference until the fund balances are depleted.

Under this scenario, the amount of reserve funds that would be left by June 2014 is as follows: zero left in the Illinois Municipal Retirement Fund; the Social Security Fund would be reduced by $576,000, leaving a fund balance of $976,184, however, that ending fund balance would not be enough to cover expenditures during the 2014-15 school year and would require the district to borrow from the Education Fund; and Tort would be reduced by $441,000, leaving a fund balance of $711,583. Similarly, the ending fund balance in Tort would not be enough to cover expenditures during the 2014-15 school year and would require the district to borrow from the Education Fund.

Text Only
Local News
  • Fire hits Tilton restaurant

    Firefighters from several area departments battled a fire Thursday afternoon at Monical's Pizza on Georgetown Road.

    April 24, 2014

  • Blood drive set for Friday

    April 24, 2014

  • Police, Fire Reports

    April 24, 2014

  • One man hospitalized after overnight shooting

    Police continue to investigate an overnight shooting that left one man in the hospital.

    April 24, 2014

  • D118 OKs uniform dress code DANVILLE -- Next school year will usher in a new way of dressing for school for most of Danville District 118's students. School board members voted 4-3 Wednesday night to implement districtwide a uniform standard of dress for all students in grades

    April 24, 2014

  • Alderman organizes diversity talk DANVILLE - Ward 1 Alderman Kevin Davis has helped organize a diversity conference. Diversity is the state of having people who are of different races or who have different cultures in a group or organization, according to a press release. Davis, in a

    April 24, 2014

  • Day care closes for church growth DANVILLE - Growth at Second Church of Christ is causing the closure of a day care that sees 95 children daily. A letter given to parents and published in the Commercial-News this week announced the upcoming closure of the Two by Two Christian Early E

    April 24, 2014

  • CASA planning racy event for fundraiser DANVILLE -- A day at the horse races is the theme for a fundraiser and auction for the local Court Appointed Special Advocates. This is the third year for the CASA's Night at the Races and Hometown Celebrity Auction, scheduled for Friday at the Knigh

    April 24, 2014

  • Fire Calls Firefighters responded to the following calls: Tuesday, 8:43-8:55 a.m. -- A car fire at Kentucky Fried Chicken, 12 N. Bowman Ave. Tuesday, 8:54-9:09 a.m. -- A false alarm at Schlarman Academy, 1307 N. Walnut St. Tuesday, 9:51-9:58 a.m. -- A medical c

    April 24, 2014

  • Police Report Incidents reported to police include: Danville Monday: Battery in the 400 block of Oak Street. Fuel theft at Circle K, 121 S. Gilbert St. Fuel theft at Circle K, 121 S. Gilbert St. Property damage in the 1600 block of East Main Street. Disorderly con

    April 24, 2014

E-edition
AP Video
US Proposes Pay-for-priority Internet Standards Wife Mourns Chicago Doctor Killed in Afghanistan FDA Proposes Regulations on E-cigarettes Kerry Warns Russia of Expensive New Sanctions Mideast Peace Talks Stall on Hamas Deal Cody Walker Remembers His Late Brother Paul Grieving South Korea Puts Up Yellow Ribbons Raw: Kerry Brings His Dog to Work Raw: Girls Survive Car Crash Into Their Bedroom Three U.S. Doctors Killed by Afghan Security Yankees' Pineda Suspended 10 Games for Pine Tar Colleagues Mourn Death of Doctors in Afghanistan Ukraine Launches Operation Against Insurgents Obama Reassures Japan on China Raw: Car Crashes Into San Antonio Pool Time Magazine Announces Top Influencers List Raw: Angry Relatives Confront SKorea Officials Bigger Riders Means Bigger Horses Out West Yankees Pineda Ejected for Pine Tar Deadly Fungus Killing Bats, Spreading in US
NCAA basketball
NDN Video
Grumpy Cat Not Impressed at "Idol" Is Shaquille O'Neal the World's Best Ex-Athlete? Raw: Obama Plays Soccer With Japanese Robot Behind The Tanlines Jersey Strong Part 2 BASE Jumpers Set World Record Screaming 2-year-old gets psyched at Penguins game Pineda: Put pine tar because he didn't want to hit anyone Beyonce on Her Biggest Influence Michael Strahan's First Day on "GMA" Clerk catches on fire after man throws Molotov Cocktail into Brooklyn store Amazon's Deal With HBO Leapfrogs Streaming Rivals Stephen Colbert Tells David Letterman His Plan for 'Late Show' Georgetown police officer filmed tripping students Viral: It's Not Pitbull - It's Amy Poehler! Recycling Highlights for Earth Day Lupita Nyong'o Named People's 'Most Beautiful' Peeps Launched into Outer Space NYPD's Twitter Request For Photos Backfires New HBO Go Commercials Capture Awkward Family TV Watching Raw: Leopard Bites Man in India
Must Read