Yorkville CUSD 115 School Board of Education officials unanimously adopted a $47,018,000 tax levy Dec. 17.
The total 2011 levy was $44,254,548, 6.24 percent less than the proposed 2012 levy. Estimated property taxes in the 2012 levy are $5,389,538, according to district documents. That is a 6.91 percent increase over the $5,041,065 in property taxes in the 2011 levy.
The school district is the largest recipient of property taxes levied in Yorkville. By law, every school district is allowed to levy, or ask for, more taxes than they will collect, based on a formula utilizing the assessment of a property and the consumer price index.
Board President Dave Dockstader told Patch in 2011 that 82 percent of the district’s revenue stream comes from property taxes, with 1.9 percent coming from federal aid; 12.4 percent from the state; and 3.1 percent from other local sources.
This revenue breaks down into expenditures through eight categories. Salaries make up 44 percent of expenditures, with benefits taking another 18.6 percent. Purchased Services are 13.8 percent; supplies and materials are 8.8 percent; and capital outlay is 0.8 percent. The remaining expenditures include 12.7 percent for other projects, .4 percent for non-capitalized equipment and .5 percent for contingencies.
In 2012, the Illinois State Board of Education recognized Yorkville School District for its Annual Financial Report. The rating places Yorkville in the highest state recognition for financial strength, district documents show.