Peoria Public School officials are smiling and they're passing along the smiles to taxpayers.
A newly released audit shows a $2.4-million surplus in District 150's Education Fund. That compares to nearly $7-million in the red last year. It's because of belt-tightening and the recent school closings.
Interim Comptroller/Treasurer David Kinney says taxpayers can smile because they'll be paying less to District 150 next year.
"What we project to happen is the EAV (Equalized Assessed Valuation) to decline 1.5 percent, and we're also taking the tax rate down one cent," Kinney tells 1470 WMBD. "Those in mind we'll save the taxpayers money."
That savings will be around 25-to-26 dollars for the owner of a $100,000 home.
"We actually will take in about $1.17-million less," says Kinney. "The two funds that get hit the most are the Education Fund by about $460,000 and the Operations and Maintenance Fund by about $100,000."
That's if the school board approved the recommended levy December 12th. Kinney says it means the District will continue to look at ways to control its spending.
