http://sycamoretaxpayer.com/blog Demanding Fiscal Responsibility Tue, 07 Sep 2010 16:48:58 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://sycamoretaxpayer.com/blog/area-levys/comment-page-1/#comment-107 Administrator Wed, 03 Feb 2010 23:29:41 +0000 http://sycamoretaxpayer.com/?page_id=1966#comment-107 RESIDENT QUESTIONS LEGALITY OF TAX HIKE By Forrest Sellers, Northeast Suburban Life. January 27, 2010 IH resident Fred Sanborn said a recent millage move by the IH school district is illegal. The move is not legally justified. Sanborn referred to a section of Ohio’s Revised Code which states, “no tax rate shall be levied above that necessary to produce the revenue needed by the taxing district or political subdivision for the ensuing fiscal year … unless such rate of taxation for the ensuing fiscal year is clearly required.” Sanborn said, “(There) is no way this district is running out of money,” citing the district’s reserve fund. The district is expected to have $24 million in the cash reserve fund by June of next year, “Why didn’t (the district) dig into the reserve instead of passing the inside millage,” said resident Jim Troppman. Board members gave these reasons: “the district has a proactive financial planning approach”; It has always been a prudent logical effort to have a reserve fund”; With our projections, we could burn through our reserve fund in a short period of time”; Board members also said these decisions are being made to try and avoid exhausting funds and putting an operating levy on the ballot. RESIDENT QUESTIONS LEGALITY OF TAX HIKE
By Forrest Sellers, Northeast Suburban Life. January 27, 2010
IH resident Fred Sanborn said a recent millage move by the IH school district is illegal. The move is not legally justified.
Sanborn referred to a section of Ohio’s Revised Code which states, “no tax rate shall be levied above that necessary to produce the revenue needed by the taxing district or political subdivision for the ensuing fiscal year … unless such rate of taxation for the ensuing fiscal year is clearly required.”
Sanborn said, “(There) is no way this district is running out of money,” citing the district’s reserve fund.
The district is expected to have $24 million in the cash reserve fund by June of next year,
“Why didn’t (the district) dig into the reserve instead of passing the inside millage,” said resident Jim Troppman.
Board members gave these reasons: “the district has a proactive financial planning approach”; It has always been a prudent logical effort to have a reserve fund”; With our projections, we could burn through our reserve fund in a short period of time”; Board members also said these decisions are being made to try and avoid exhausting funds and putting an operating levy on the ballot.

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