LM Oct.2017

STEP 1. EXAMPLE

A.

current year’s inflation

last year’s extension

C.

(CPI)

$5,000,000 x 1.02 $5,100,000 x 1.02 $210,000,000 minus $10,000,000 $200,000,000

Limiting Rate

2.550%

B.

current year’s EAV

new construction

EXAMPLE STEP 2.

x

Limiting Rate

Revenue

EAV

x

$5,355,000 Total Limited Extension

2.550%

$210,000,000

EXAMPLE STEP 3.

Fund

Extension Computed rate (a)

Education

$4,255,000 700,000 200,000 200,000 $5,355,000

2.027 .333 .095 .095 2.550

Operations &Maintenance

Transportation

IMRF/Social Security

Total

Limiting Rate

(a) Computed by dividing the extension for each fund by the current year EAV of $210,000,000. The district’s maximum rate for each fund is established by the state limit. There is no set limit for the IMRF/Social Security fund; it reflects the district’s need.

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