Miller, the district’s chief business officer, told the Springfield School District 186 Board of Education that the district is projecting a levy ‘ask’ that would amount to a 4.56% increase compared with last year’s extension. He said the calculation starts with the 2024 extension of about $123.7 million, applies the December 2024 Consumer Price Index of 2.9%, and adds estimates for new property and a limited ‘balloon’ on specific levy lines, producing a proposed ask near $129.3 million.

The presentation, which covered the district’s October business report as well, showed operating revenues and balances the board should consider. For October 2025 Miller reported Ed Fund revenues of $9,500,000 and expenditures of $18,100,000 (expenditures exceeded revenues by $8.6 million). The district’s combined cash and investments across all funds were shown as $88.7 million, with $57.0 million in operating funds. Year-to-date interest earnings on cash accounts totaled just over $900,000; October interest was reported at about 2.5%.

Why it matters: property taxes provide a large share of local revenue for District 186. Miller said property taxes represent roughly half of the district’s budgeted revenues and about 46% of the Ed Fund. Under Illinois’ Property Tax Extension Limitation Law (PTELL), the district may increase levies by CPI (2.9% in December 2024) or 5%, whichever is less, plus adjustments for new property and any voter-approved referenda. Miller said the district’s recommended ask includes a modest balloon and a cautious new-property estimate to avoid leaving revenue unclaimed.

Miller walked the board through the levy math: starting from last year’s extension, applying CPI, adding a $1.2 million balloon on selected lines and increasing the new-property estimate from an $12 million baseline to $16 million. That new-property estimate accounts for roughly $804,000 of the total. Taken together, the district’s calculations produced the 4.56% levy ask and an estimated tax-rate increase of about 3.54%, Miller said; he added that the district does not expect to receive the full asked amount and noted the county clerk’s limiting rate and the final extension will determine actual receipts.

What’s next: the board will consider four related resolutions at its Dec. 1 meeting (the single tax levy structured as four resolutions covering general levy lines, IMRF/Social Security/Medicare/special education, bond restructuring in line with CPI, and abatement tied to sales-tax-backed bonds). Miller said a Truth in Taxation hearing is scheduled for Dec. 1; the district must file the final levy with the county clerk by the last Tuesday in December (Dec. 30). Miller also described recapture (late property-tax payments) and how any recapture receipts are allocated across funds by percentage.

Context: Board members pressed Miller on the district’s larger budget picture: the board previously approved a budget projecting a roughly $17 million deficit; Miller emphasized that the $57 million cited is cash on hand rather than fund balance and said the projected fund-balance drawdown remains near the previously forecasted $17–$18 million range for FY26. Miller stated cabinet staff are actively identifying potential cost savings, aiming to minimize classroom impacts and exploring program and procurement changes. He said some savings this year may come from reduced vehicle purchases and an upcoming retirement that reduces personnel costs.

The board did not vote on the levy at this meeting; Miller framed the presentation as the required preview and timeline. The adoption votes and Truth in Taxation hearing are scheduled for Dec. 1, after which the district will submit final levy paperwork to the county clerk.