Department of Business and Finance

marquardt school district 15

Marquardt School District 15's Department of Business and Finance is responsible for managing the District's budget and investments. The District's budget is used for teacher and employee salaries, services for students, school and facility maintenance, busing, and much more. In addition to the day-to-day financial operations of the district, the Department of Business and Finance uses bond funds for the construction of new schools and support facilities—as well as the renovation and updating of existing schools—to keep up with the District's growth.  The Department practices fiscal responsibility and sound financial management in order to provide the financial resources for our students to be successful. The Finance Office has received the Excellence in Financial Reporting award yearly for over 30 years.

The department of Business & finance is responsible for:

• Financial planning and budgeting

• Fiscal accounting and financial reporting

• Purchasing

• Cash management and investing

• Levying of property tax

• Payroll services

• State and federal claims

• Insurance and risk management

• Buildings and grounds

• Food services

• Transportation

*Marquardt School District 15 has on file a negotiated agreement between the Marquardt School District 15 Board of Education and the Marquardt Education Association. The contract's effective dates are 2022-2026.

District Budget Documents and reports

• 2022-23 Budget

• 2020-21 Annual Financial Report

• 2020-21 Comprehensive Annual Financial Report

• Admin Compensation Report

• IMRF Compensation Report

• EIS AdminTeacher Salary Report

• Contracts Over $25,000

• Shared Service FY20

• Prevailing Wage - Resolution / Prevailing Wage Schedule-DuPage

• Collective Bargaining Agreement 2022-26

• Fee Waiver Parent Letter Instructions

  • Fee Waiver Application (Printable) - English

  • Fee Waiver Application (Printable) - Spanish

  • Fiscal Year 2022 Income Eligibility Guidelines

• IMRF Participation

• FY23 Tax Levy and Abatement

• Copy Paper Bid

FY23 Tax Levy and Abatement

What is a Tax Levy?

• It is a percentage of assessed property value that the school district is able to receive from your tax bill.

• This year, CPI (Consumer Price Index)/Inflation was over 8.5%.

• Public school districts in DuPage County have restrictions on the levies they are allowed to set. These districts are capped at CPI/inflation or 5% (whichever is lower).

• Based on MSD15 administration recommendation, a property tax reduction was approved by the Board of Education to reduce the financial burden on the community.

So, what is a Tax Abatement?

• It is a financial intervention that reduces the amount of money that a taxpayer pays on a residential or commercial property.

• The Board of Education set a 3% tax abatement which is equivalent to $1,080,000.

• As a result, taxpayers will see an approximate 2% increase in the school district's portion of the tax bill instead of the full 5%.

Let's break it down.

5% (tax levy) - 3% (tax abatement) = 2% increase in the school district's portion of the property tax bill.

Why are Tax Levies necessary for Districts?

• It allows Districts to remain competitive in the market regarding salaries and benefits for staff.

• Districts maintain and upgrade buildings/facilities with existing fund balances.