Tuesday, Apr 28, 2015
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Recent Comments

ONCEMORE1 - QPD Blotter for April 25, 2015 - Quincy, IL News - QuincyJournal.com
Your hyperbole aside, your comparison is hardly apt. A zoning violation pales next to your felonious examples. But for the sake of argument, if you would comprehend my comment, you would see I did not question the validity of the law involved, only what it means to me. I prefer to choose my battles and this is one that does not apply to me. I do not know the parties invoved, their actions…
yesqcy - Council adopts budget by 8-6 vote - Quincy, IL News - QuincyJournal.com
I agree, however makes the cuts when necessary not anticipated. And make them elsewhere not public safety. Better yet, no cuts and raise your revenue stream
WarCry - Council adopts budget by 8-6 vote - Quincy, IL News - QuincyJournal.com
Since you continue to (falsely) claim that there won't be any revenue shortages, I'm going to continue to show that you're wrong. If you don't like the quote from the article here on Quincy Journal, try this one from February 18th on WGEM: "In his first budget address Wednesday, Governor Bruce Rauner said municipalities will face cuts. Governor Rauner proposed cutting local…
Sv3 - Council adopts budget by 8-6 vote - Quincy, IL News - QuincyJournal.com
There isn't anything stopping them from revisiting the trash debacle. And the world is truly coming to an end... I agree with Warcry, and now must up vote him. Ugh...
WmMunny - Council adopts budget by 8-6 vote - Quincy, IL News - QuincyJournal.com
Some financial professionals recommend folks have in savings either 6 months income or an amount equal to 6 months of debt. If this city was run the same way we'd have $15.9 million in reserves. Of course then the liberals would be screaming spend ... Spend .... SPEND!

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Council adopts budget by 8-6 vote

JWCC Trustees abate part of 2013 Tax Levy

JWCC Trustees abate part of 2013 Tax Levy

1 year, 6 months ago by

John Wood Community College Trustees authorized the abatement of tax levied for 2013 to pay debt service on General Obligation bonds and announced the intent to levy an equity adjustment for the same tax year.

At Wednesday night's meeting, the JWCC Board approved a resolution to abate the 2013 tax levy associated with the General Obligation Bonds (Alternate Revenue Source), Series 2012.  JWCC has sufficient funds from operations for the annual payment of the principal and interest on these bonds. 

As a result, the counties of Adams, Pike, Hancock, Calhoun, Schuyler, Brown, Morgan, Scott and Cass will not collect approximately $93,000 for payment in 2013.

Trustees adopted a resolution declaring the intent to approve the annual equity adjustment for the 2013 tax year as permitted by state statute. JWCC is one of 15 community colleges in the state eligible by law for the adjustment because the College operates at a tax rate below the statewide average. 

The adjustment is .0393 per $100 equalized assessed valuation (EAV), which would generate an estimated $540,000 for JWCC’s operation fund for the 2015 budget year.  The Board announces its intent for the equity adjustment every October prior to its annual levy. The overall tax levy will be discussed at future meetings.

In other business, the Board:

Accepted and filed the annual audit report for fiscal year 2013 from WIPFLi auditing firm. WIPFli noted that JWCC has complied with government accounting practices and has exercised proper internal controls.

Authorized Dr. John Letts to enter into an agreement with a collective bargaining negotiator for the negotiation period with the JWCC Faculty Association IFT/AFT local #6086 Collective Bargaining Unit.

Approved submission of a reoccurring Illinois Cooperative Work-Study Program Grant in the range of $25,000-$30,000.  The purpose of the grant is to support work study/internship activities with local businesses that align with courses of study offered by JWCC.  The grant pays one half the hourly wage of the internship and the employer pays the other half of the 160, 240 or 320 hour internship.  Previous funding resulted in 23 internships within culinary arts, agriculture and early childhood education.

 


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