- Let’s define what PTELL is: a cap on the amount that property taxes in your town can be raised. PTELL is based on the rate of inflation.
- If inflation is 2%, then your property taxes can be increased by no more than 2%.
How does this affect us in District 38?
- It does set a limit on our revenue stream, although this limit has never impacted district finances negatively. In fact, the District has been running a surplus for some years.
- According to its School District Financial Profile, Kenilworth has 585 days of cash on hand.
- Local taxes are the largest source of revenue for District 38, but not the only one. The District has received nearly half a million dollars in Elementary and Secondary School Emergency Relief(ESSER) funding during the past year.
- This funding, coupled with significant staffing cuts(usually referred to as Reduction in Force) has put the District in a very strong financial state, as strong, if not stronger than other New Trier township districts.
So, what is the big deal with PTELL?
- We’re not sure why such a small and, until recently, obscure figure, is now such a huge presence in our District. Please know, though, that our District has plenty of funding for the school, its administration (which is costing close to a million dollars a year in salary and benefits), and consultants and attorneys (which are costing hundreds of thousands a year).
- There is no connection between PTELL and increases in teacher salary.
- The District is in excellent financial shape, and should now have plenty of money for the faculty.
Thanks for letting us PTELL you all about this!!