More McHenry County Blog

Here's the rest of Larry Snow's concerns:

Explain the $35 million of Working Cash Fund money that makes a $27 million Education Fund deficit largely irrelevant.

Explain the Sears TIF (Tax Increment Financing) District, expiring in 2012, which will annually generate $10 million in additional revenue.

Show the true future property tax revenue from Randall Road ’s commercial property.

How much goes for a new teachers contract?

Explain the tax inefficiency. A large referendum increase in the education fund results in about 60% of the tax increase returning to the state as a reduction in state aid.

D-300 shares common denominators with D-158.

First, the same independent audit firm.

Second, PMA Financial performs financial projections for D-300. They presented financial referendum projections to D-158 residents.

Third, D-158’s financial adviser at Harris Bank, during its referendums is now a D-300 board member and heads D-300’s Finance committee.

How real was D-158's debt crisis during its referendum?

Last year Harris assisted D-158 in borrowing $13 million that apparently wasn’t needed. ($9 million was kept in a PMA (Financial, Inc.) money market account, while working cash sources went unused).

Given their track record, should D-300’s sources of financial projections and information be trusted?

I sincerely encourage District 300’s leaders to avoid using D-158’s referendum campaign playbook – selective information, deceptive omissions, emotional hype, threats to punish the kids, and fear-mongering rhetoric.

Hopefully D-300’s leaders will objectively provide all of the facts on a full disclosure basis to its community.

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