Referendum Notices

Referendum Overview

On March 19th, 2024 the Olympia School district will be asking voters to vote on two resolutions that look to stabilize district finances. * Exact language for both questions can be found at the bottom of this page.

Referendum Questions

Referendum Overview Presentation

Additional Question 1 Information

Due to significant increases in the district’s EAV**, the district will reduce the rates in Tort**, IMRF**, and Social Security to offset the increase in the Operations and Maintenance fund.  There will be no net growth to the tax rate if both questions pass. See image below for a breakdown of the adjustments to tax rates in different funds if both questions pass.

The Operation and Maintenance fund pays for the upkeep and maintenance of the school district and all of its physical spaces.

Overall Tax Rate

Additional Question 2 Information

The increase in the Education fund will represent a tax swap as the district has been taking out Working Cash Bonds for the last several years to cover the structural deficit that exists in that fund. Those bonds will roll off the tax rate in 2024 so if the Education fund question is approved, there will be no net increase to a resident’s tax rate for approving this measure.

The Education fund pays for salaries for Olympia staff members as well as curriculum materials for our students.

Question 1 Funding Gap

Additional General Information

The last time that the Olympia School District went to the voters for a referendum was 2007, when voters approved raising the Education tax rate from $2.40 to the current rate of $2.90. Voters approved that increase, which was the first increase in the Education tax rate since 1980. The Operations and Maintenance tax rate has never been increased from its current rate of $0.50.

Annually, the District receives a rating from the State based on multiple financial factors. Olympia has consistently been in the top two categories with our most recent recognition being the highest rating a district can receive - Financial Recognition.

The Olympia School District also ranks in the lowest 25th Percentile in the State of Illinois when it comes to administrative costs.

* The questions will appear in the following order and using the exact language as seen below

Question 1 Ballot Language

Operations and Maintenance Fund

Shall the maximum annual tax rate for operations and maintenance purposes of Olympia Community Unit School District No. 16, McLean, Tazewell, Logan, DeWitt, and Woodford Counties, Illinois, be increased and established at .75 percent upon all the taxable property of said School District at the value, as equalized or assessed by the Department of Revenue, instead of .50 percent, the present maximum rate otherwise applicable to the next taxes to be extended for said purpose?

Question 2 Ballot Language

Education Fund

Shall the maximum annual tax rate for educational purposes of Olympia Community Unit School District No. 16, McLean, Tazewell, Logan, DeWitt, and Woodford Counties, Illinois, be increased and established at 3.40 percent upon all the taxable property of said School District at the value, as equalized or assessed by the Department of Revenue, instead of 2.90 percent, the present maximum rate otherwise applicable to the next taxes to be extended for said purpose?

** Definitions for these terms are as follows:

  • EAV (Equalized Assessed Value) - This is the value of all of the property in the Olympia School District. 

  • Tort - This is the fund that is used to mitigate the risk within the school district. 

  • IMRF (Illinois Municipal Retirement Fund) - This money is used to pay for required benefit contributions by the district on behalf of staff members.