Township Clarifies Recent Financial Data Report

New Trier Township offers the following explanation regarding the information provided in your recent tax year 2012 first installment bill. On your property tax bill under the heading "New Information: Your Taxing Districts Debt and Financial Data," the information below should further clarify the subject.

The $2,295,474 liability total reported by the County Treasurer is misleading. The total includes $2,290,144 in property taxes reported as deferred revenue, but that amount is not debt.

 

The $5,330 remainder of the total debt reported was to pay for services, supplies and accrued vacation pay attributable to the 2011-12 fiscal year. In short, the Township's only debt is the $5,330.

 

The unfunded pension liability reported by the County Treasurer is fairly stated as of December 31, 2011. Management has been considering steps to reduce the pension obligation. The amount of each year's retirement contribution is determined by the actuaries at the Illinois Municipal Retirement Fund. New Trier Township has made all required payments.



 
739 Elm Street, Winnetka, Illinois 60093 P. (847) 446-8202 F. (847) 446-1743
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