Taxing Body & Fiscal YearBudget Estimate 10/2010 Estimate
School Dist 428 -- 2011$1,038,658$1,795,083
City of DeKalb -- 2011$750,000$221,800
City of DeKalb -- 2012$670,000N/A

The school district is allocating its share for debt service, while the City of DeKalb’s will be dropped into the General Fund.

One might ask why the city has projected $670,000 for FY2012 since the October estimates came in $528,200 under its preliminary estimates. At least two factors must be at play: the rise in city property tax from .60 to .65, and a rosy projection of 11.67% growth in sales taxes even though the reason for the October surplus estimate adjustments were made in response to a state notification that the sales tax portion would be reduced 22% due to a general drop in sales taxes.

Might make one wonder about other possible rainbows and unicorns in this budget draft.

Sources:

District 428’s FY10-11 budget, p. 6

City of DeKalb’s adopted FY2011 budget, pp. 22-24

City of DeKalb’s FY2012 draft budget proposal, pp. 22-24

City Barbs, “FY2011 TIF Surplus,” Distribution Reconciliation chart and letter from the city