Commenter Mark does a lot of research, which he shares under various stories.
Today, inspired by Mayor Aaron Shepley’s endorsement of Democrat Jack Franks, he looks at Crystal Lake city finances.
Does endorsing Franks mean the Crystal Lake City Council will cut its property tax levy 10% this fall, as Jack Franks says will happen, if he is elected?
The heading of Jack Franks petition to gather people’s email addresses.
Below is what Mark found in the Illinois Department of Insurance Public Pension Division 2015 Biennial Report, covering years 2013 – 2014.
The report is issued every two years.
This report was issued October 1, 2015.
The next report will presumably be issued around October 1, 2017.
The figures below, from the report, are as of April 30, 2014.
Crystal Lake Firefighters Pension Fund
– 68% Funded.
– $11,917,321 underfunded (taxpayer IOU to the pension fund as of that date).
The Crystal Lake Fire Department had a display at the Crystal Lake Business Expo.
The amount underfunded has GROWN over time.
- 2013 – $11,711,842 Unfunded Liability
- 2012 – $10,942,574
- 2011 – $09,516,035
- 2010 – $09,042,832
- 2009 – $10,206,728
- 2008 – $06,662,068
- 2007 – $05,540,630
- 2006 – $04,646,613
- 2005 – $04,515,696 Unfunded Liability
+++++
Crystal Lake Police Pension Fund
– 58% Funded
– $22,873,951 Unfunded Liability
The Crystal Lake Police Department’ display at the Crystal Lake Business Expo was next the Fire Department’s.
- 2013 – $21,739,514
- 2012 – $19,292,991
- 2011 – $19,356,138
- 2010 – $18,607,105
- 2009 – $21,299,817
- 2008 – $15,061,998
- 2007 – $13,302,460
- 2006 – $12,595,918
- 2005 – $12,261,281
+++++++
Crystal Lake taxpayers owe almost $35 million ($34,791,272, to be exact) to the Crystal Lake Police and Fire pensions alone.
= = = = =
It is the mandatory Police Pension Fund for municipalities over 5,000 people that makes me what my Village of Lakewood not to grow that large.
After yesterday’s ruling on Redistricting, should we pack our bags?
Imagine what would happen if we tried to get a referendum on the ballot relative to elimination of the Public Pension guarantee!
Justice Tenure Party
Justice Charles Freeman 1990-2020 Democratic
Justice Thomas Kilbride 2000-2020 Democratic
Justice Anne M. Burke 2006-2018 Democratic
Justice Mary Jane Theis 2010-2022 Democratic
Justice Robert Thomas 2000-2020 Republican
C. Justice Rita Garman 2001-2022 Republican
Justice Lloyd Karmeier 2004-2024 Republican
None of these justices are on the ballot this year.
None until 2018 and she is a Cook County judge.
The odds of replacing her with an unbiased judge are not too good.
http://www.azquotes.com/picture-quotes/quote-in-order-to-possess-what-you-do-not-possess-you-must-go-by-the-way-of-dispossession-t-s-eliot-86-74-26.jpg
How can the City justify being this far behind in pension obligations.
Shepley and Mayerhofer can sure find ways to waste money instead of improving the balances in these funds.
They are accountable to the taxpayers, but should also see that these funds are maintained appropriately
Underfunded fire and police pensions are a big reason why Jack Franks’ Cut 10 is an election gimmick.
There is almost zero chance a Crystal Lake property taxpayer will see their property tax bill cut 10%.
++++++
What is the rationale behind Jack Franks’ request that Crystal Lake cut their property tax revenue by 10%
Just because he wants to get elected?
He didn’t call for Crystal Lake to cut their property tax revenue by 10% until he was campaigning for County Board Chair.
++++++
Let’s see the plan from every single taxing district in McHenry County as how they plan to cut property taxes by 10%.
We have not yet seen a single plan from a single taxing district.
+++++++++++++++
Certainly such plans would negatively effect the unions that support Jack Franks.
Are the unions going to campaign for Jack Franks to limit their pay hikes and cut their benefits?
Doubtful.
It’s a campaign gimmick to get elected.
+++++
Jack Franks is still claiming he has never supported a tax increase in his 18 years as State Representative.
But he has voted for unfunded mandates.
Thus he supported unfunded mandates.
So he claims he has not supported a tax increase, yet he has voted for unfunded, and thus supported unfunded mandates.
And unfunded mandates result in what?
Depending on the mandate, there are choices.
– tax hike
– service cuts
– become more efficient
– if it’s a pension or retiree healthcare benefit hike, one can simply not fund the hike now and leave future taxpayers to fund the hike (MAJOR problem right now and Jack did vote for unfunded / underfunded pension benefit hikes).
++++++
Jack Franks is not completing the thought process when stating he has never supported a tax increase.
Sort of like saying he supports chickens but not eggs.
First comes the unfunded mandate, then comes the tax hike.
Unfunded Mandates result in tax hikes.
Every single unfunded mandates does not result in a tax hike.
But voting for unfunded mandates then claiming to never support a tax hike over an 18 year Illinois Democrat State Representative career from 1999 – 2016 is sketchy.
++++++
Let’s take a closer look at unfunded mandates.
+++++++
What does Crystal Lake Mayor Shepley have to say about unfunded mandates?
He’s involved with the Illinois Municipal League.
The Illinois Municipal League has issued reports about unfunded mandates.
++++++
Illinois Municipal League
Report to the Local Government Consolidation and Unfunded Mandates Task Force
Lieutenant Governor Evelyn Sanguinetti, Chair
March 4, 2015
http://legislative.iml.org/page.cfm?key=15216
– 27 page report
– 8 pages of pension mandates including their Public Act Number
– The first two digits of the Public Act number are the General Assembly number.
– Jack Franks has been in office was in office from the 91st – 99th General Assembly.
– 62 line items of pension mandates from the 91st – 99th General Assembly are listed in the report.
– None of those 62 Public Acts for which Jack Franks voted resulted in a tax increase?
+++++++++++++++++++++++++
Illinois Municipal League
2015 Proposed State Mandates
(Introduced in the current 99th General Assembly)
Supplemental Report to the Local Government Consolidation and Unfunded Mandates Task Force
Lieutenant Governor Evelyn Sanguinetti, Chair
March 20, 2015
http://legislative.iml.org/page.cfm?key=10193
– 5 page report
+++++++++++++++++++++++++
Illinois Municipal League
Mandate Reports
http://legislative.iml.org
++++++++++++++++++
Maybe they can trade in some of those overpriced flowers they have been adorning the city with for many years and pay off their pensioners.
Now they can sell us on the “need” to, and “benefits” of, re-amortization.
Which will make even more room to acquire more debt.
Disappointed with the telephone town hall Althoff held last night.
Apparently Springfield’s definition of “solving” the pension crisis it by transferring the burden onto local school districts.
She, apparently like many in Springfield, believe tax caps will end frivolous benefits.
No mention of Harrison or Woodstock school districts skirting around tax caps with interfund tranfers.
Springfield needs to be having the discussion of transitioning all gov’t employees onto defined contribution plans instead of defined benefit plans.
This transferring the burden on local school districts that Springfield is planning just tranfers the blame to different politicians!
Pam Althoff opposed allowing school districts to transfer surplus Transportation Fund money to the Education Fund.
Percentage increase in the unfunded liability of Crystal Lake Pension Funds, from 2005 – 2013:
Fire: 159%
Police: 77%
+++++++
Jack Franks proposes that the village of Crystal Lake, and all taxing districts in McHenry County, cut property tax revenue 10% as part of his Cut 10 campaign to get elected as Democrat McHenry County Board Chair.
The Republican candidate is Mike Walkup.
Election November 8, 2016
Jack Franks will reveal his proposal for cutting tax revenue if he’s elected.
Chart updated to reflect liability percentage increase from 2005 – 2014 for Downstate Police and Downstate Fire Pension Funds in McHenry County:
Algonquin Lake in the Hills Fire Protection District Pension Fund
– 75% funded
– $5,375,018 unfunded liability in 2014
– $1,122,804 unfunded liability in 2005
– 379% increase in unfunded liability from 2005 – 2014
+++++
Algonquin Police Pension Fund
– 64% funded
– $11,062,231 unfunded liability in 2014
– $05,213,667 unfunded liability in 2005
– 112% increase in unfunded liability from 2005 to 2014
+++++
Barrington Hills Police Pension Fund
– 59% funded
– $5,703,906 unfunded liability in 2014
– $5,325,230 unfunded liability in 2005
– 7% increase in unfunded liability from 2005 – 2014
++++++++
Cary Police Pension Fund
– 52% funded
– $8,008,961 unfunded liability
– $3,393,899 unfunded liability
– 136% increase in unfunded liability from 2005 – 2014.
+++++
Cary Fire Protection District Firefighters Pension Fund
– 80% funded
– $820,590 unfunded liability in 2014
– $463,464 unfunded liability in 2005
– 77% increase in unfunded liabilities from 2005 to 2014.
+++++
Crystal Lake Firefighters Pension Fund
– 68% funded
– $11,917,321 unfunded liability 2014
– $04,515,696 unfunded liability 2005
– 164% increase in unfunded liability from 2005 – 2014
+++++
Crystal Lake Police Pension Fund
– 58% funded
– $22,873,951 unfunded liability 2014
– $12,261,281 unfunded liability 2005
– 87% increase in unfunded liability from 2005 – 2014
+++++
Fox Lake Fire Protection District Pension Fund
– 72% funded
– $214,327 unfunded liability 2014
– $23,247 unfunded liability 2010 (apparently the fund began in 2010)
– 822% increase in unfunded liability from 2010 – 2014
++++
Fox Lake Police Pension Fund
– 73% funded
– $4,628,041 unfunded liability 2014
– $4,133,333 unfunded liability 2005
– 12% increase in unfunded liability from 2005 – 2015.
+++++
Fox River Grove Fire Protection District
The Fox River Grove Fire Protection District dissolved during the biennial period covered by the report.
The Fox River Grove Fire Protection District now participates in the IMRF pension fund.
+++++++
Harvard Fire Protection District
– Dissolved during the biennial period.
– The Harvard Fire Protection District has converted to the IMRF pension fund.
+++++++++
Harvard Police Pension Fund
– 65% funded
– $4,618,227 unfunded liability 2014
– $2,080,335 unfunded liability 2005
– 122% increase in unfunded liability from 2005 to 2014.
+++++++
Huntley Fire Protection District Firefighters Pension Fund
– 90% funded
– $2,055,063 unfunded liability 2014
– $0,369,371 unfunded liability 2005
– 456% increase in unfunded liability from 2005 to 2014.
+++++++
Huntley Police Pension Fund
– 48% funded
– $6,364,608 unfunded liability 2014
– $2,505,743 unfunded liability 2005
– 154% increase in unfunded liability from 2005 to 2014
+++++++
Island Lake Police Pension Fund
– 49% funded
– $3,467,933 unfunded liability 2014
– $0,993,607 unfunded liability 2005
– 249% increase in unfunded liability from 2005 to 2014
+++++
Johnsburg Police Pension Fund
– 42% funded
– $2,871,493 unfunded liability 2014
– $0,219,248 unfunded liability 2005
– 1,210% increase in unfunded liability 2005 – 2014
+++++
Lake in the Hills Police Pension Fund
– 79% funded
– $6,073,470 unfunded liability 2014
– $2,408,437 unfunded liability 2005
– 152% increase in unfunded liability 2005 – 2014
+++++
Lakemoor Police Pension Fund
– 32% funded
– $146,846 unfunded liability 2013
– $134,354 unfunded liability 2012 (apparently the plan began in 2012 and they didn’t submit 2014 data).
– 9% increase
+++++
Marengo Police Pension Fund
– 44% funded
– $6,026,775 unfunded liability 2014
– $2,368,398 unfunded liability 2005
– 154% increase in unfunded liability from 2005 to 2014
+++++
McHenry Police Pension Fund
– 52% funded
– $18,242,250 unfunded liability 2014
– $07,905,160 unfunded liability 2005
– 131% increase in unfunded liability from 2005 to 2014
+++++
McHenry Township Firefighters Pension Fund
– 1,745% funded
– $3,532,437 surplus in 2014
– $0,005,482 unfunded liability in 2012
(It’s a newer fund, so there is not 10 years of historical data.
Would need to gather all the facts before assuming or concluding anything about those figures.)
+++++
Spring Grove Police Pension
– 42% funded
– $3,265,514 unfunded liability in 2014
– $0,999,313 unfunded liability in 2005
– 227% increase in unfunded liability from 2005 to 2014.
+++++
Woodstock Fire / Rescue District
– 52% funded
– $4,918,656 unfunded liability in 2014
– $0,592,861 unfunded liability in 2005
– 730% increase from 2005 to 2014.
++++++
Woodstock Police Pension Fund
– 66% funded
– $9,621,710 unfunded liability 2014
– $5,138,733 unfunded liability 2005
– 87% increase in unfunded liabilities from 2005 to 2014
++++++
Grand total unfunded liability in 2014: $129,369,436.
Grand total unfunded liability in 2005: $58,993,781*
Grand total percentage increase from 2005* to 2014: 108%
*Fox Lake Fire begins in 2010, Lakemoor Police begins in 2012, & McHenry Township Fire begins in 2012.
Note that some portions of some funds are the responsibility of taxpayers in Lake County.
The above McHenry County Police and Fire Pension List has been updated to include Fox River Grove Police pension underfunded liability (and thus the grand total unfunded liability), plus the Mayors endorsing Jack Franks for McHenry County Board Chair for the November 8, 2016 election.
The mayor endorsements are notable as Jack Franks is calling for every single taxing district in McHenry County to cut it’s property tax levy (revenue) by 10%.
How would mayors accomplish a 10% cut in property tax revenue when they can’t even fully fund pensions?
Police and Fire department pensions fall under the village / city / towns, whereas fire protection districts are a separate taxing district.
++++++++
A Jack Franks political action committee (PAC) website named CutMcHenryTaxes.com contains the Jack Franks call for every taxing district in McHenry County cut it’s property taxes by 10%:
“I urge you to support an immediate 10% cut in the property tax levied by EVERY government body in McHenry County.”
“I’m running for McHenry County Board Chairman to cut property taxes levy by 10% across the board.
This means a 10% property tax levy reduction from EVERY government body in our County.”
Paid for by supporters of Jack D Franks.
http://www.CutMchenryTaxes.com
++++++++
$136 Million was owed to McHenry County “Downstate” police and fire pension funds as of April 30, 2014.
That is $136 million which should have been in the pension funds on that day to meet actuarial projections for eventual pension payouts, but was not.
The result is a $136 Million taxpayer IOU to the pension funds.
Thus, the result is $136 Million in city / town / village & fire protection district IOU’s to the pension funds.
Yet Jack Franks recommends that cities / towns / villages and fire protection districts cut their property tax revenue by 10%.
++++++++++
The source of the Mayoral endorsements is Jack Franks’ campaign website.
http://www.FranksForMchenry.com/endorsements-for-jack-franks
Mayors are not responsible for fire protection districts as they are separate taxing districts.
Jack Franks has already said he will not reveal his plan until after the election.
(continued below)
(continued from above)
Algonquin Lake in the Hills Fire Protection District Pension Fund
– 75% funded
– $5,375,018 unfunded liability in 2014
– $1,122,804 unfunded liability in 2005
– 379% increase in unfunded liability from 2005 – 2014
+++++
Algonquin Police Pension Fund
– 64% funded
– $11,062,231 unfunded liability in 2014
– $05,213,667 unfunded liability in 2005
– 112% increase in unfunded liability from 2005 to 2014
Village of Algonquin President John Schmitt endorses Jack Franks for McHenry County Board Chair.
Jack Franks says, “I’m running for McHenry County Board Chairman to cut property taxes levy by 10% across the board.
This means a 10% property tax levy reduction from EVERY government body in our County.”
+++++
Barrington Hills Police Pension Fund
– 59% funded
– $5,703,906 unfunded liability in 2014
– $5,325,230 unfunded liability in 2005
– 7% increase in unfunded liability from 2005 – 2014
++++++++
Cary Police Pension Fund
– 52% funded
– $8,008,961 unfunded liability
– $3,393,899 unfunded liability
– 136% increase in unfunded liability from 2005 – 2014.
+++++
Cary Fire Protection District Firefighters Pension Fund
– 80% funded
– $820,590 unfunded liability in 2014
– $463,464 unfunded liability in 2005
– 77% increase in unfunded liabilities from 2005 to 2014.
+++++
Crystal Lake Firefighters Pension Fund
– 68% funded
– $11,917,321 unfunded liability 2014
– $04,515,696 unfunded liability 2005
– 164% increase in unfunded liability from 2005 – 2014
City of Crystal Lake Mayor Aaron Shepley endorses Jack Franks for McHenry County Board Chair.
Jack Franks says, “I’m running for McHenry County Board Chairman to cut property taxes levy by 10% across the board.
This means a 10% property tax levy reduction from EVERY government body in our County.”
+++++
Crystal Lake Police Pension Fund
– 58% funded
– $22,873,951 unfunded liability 2014
– $12,261,281 unfunded liability 2005
– 87% increase in unfunded liability from 2005 – 2014
City of Crystal Lake Mayor Aaron Shepley endorses Jack Franks for McHenry County Board Chair.
Jack Franks says, “I’m running for McHenry County Board Chairman to cut property taxes levy by 10% across the board.
This means a 10% property tax levy reduction from EVERY government body in our County.”
+++++
Fox Lake Fire Protection District Pension Fund
– 72% funded
– $214,327 unfunded liability 2014
– $23,247 unfunded liability 2010 (apparently the fund began in 2010)
– 822% increase in unfunded liability from 2010 – 2014
++++
Fox Lake Police Pension Fund
– 73% funded
– $4,628,041 unfunded liability 2014
– $4,133,333 unfunded liability 2005
– 12% increase in unfunded liability from 2005 – 2015.
+++++
Fox River Grove Fire Protection District
The Fox River Grove Fire Protection District dissolved during the biennial period covered by the report.
The Fox River Grove Fire Protection District now participates in the IMRF pension fund.
+++++++
Fox River Grove Police Pension Fund
– 16% funded
– $7,189,369 unfunded liability 2014
– $2,102,524 unfunded liability 2005
– 242% increase in unfunded liability from 2005 to 2014
Village of Fox River Grove President Robert Nunamaker endorses Jack Franks.
Jack Franks says, “I’m running for McHenry County Board Chairman to cut property taxes levy by 10% across the board.
This means a 10% property tax levy reduction from EVERY government body in our County.”
++++++++++++
Harvard Fire Protection District
– Dissolved during the biennial period.
– The Harvard Fire Protection District has converted to the IMRF pension fund.
++++++++
Harvard Police Pension Fund
– 65% funded
– $4,618,227 unfunded liability 2014
– $2,080,335 unfunded liability 2005
– 122% increase in unfunded liability from 2005 to 2014.
City of Harvard Mayor Jay Nolan endorses Jack Franks for McHenry County Board Chair.
Jack Franks says, “I’m running for McHenry County Board Chairman to cut property taxes levy by 10% across the board.
This means a 10% property tax levy reduction from EVERY government body in our County.”
+++++++
Huntley Fire Protection District Firefighters Pension Fund
– 90% funded
– $2,055,063 unfunded liability 2014
– $0,369,371 unfunded liability 2005
– 456% increase in unfunded liability from 2005 to 2014.
+++++++
Huntley Police Pension Fund
– 48% funded
– $6,364,608 unfunded liability 2014
– $2,505,743 unfunded liability 2005
– 154% increase in unfunded liability from 2005 to 2014
Village of Huntley President Charles Sass endorses Jack Franks for McHenry County Board Chair.
Jack Franks says, “I’m running for McHenry County Board Chairman to cut property taxes levy by 10% across the board.
This means a 10% property tax levy reduction from EVERY government body in our County.”
+++++++
Island Lake Police Pension Fund
– 49% funded
– $3,467,933 unfunded liability 2014
– $0,993,607 unfunded liability 2005
– 249% increase in unfunded liability from 2005 to 2014
+++++
Johnsburg Police Pension Fund
– 42% funded
– $2,871,493 unfunded liability 2014
– $0,219,248 unfunded liability 2005
– 1,210% increase in unfunded liability 2005 – 2014
+++++
Lake in the Hills Police Pension Fund
– 79% funded
– $6,073,470 unfunded liability 2014
– $2,408,437 unfunded liability 2005
– 152% increase in unfunded liability 2005 – 2014
Village of Lake in the Hills President Paul Mulcahy endorses Jack Franks.
Jack Franks says, “I’m running for McHenry County Board Chairman to cut property taxes levy by 10% across the board.
This means a 10% property tax levy reduction from EVERY government body in our County.”
+++++
Lakemoor Police Pension Fund
– 32% funded
– $146,846 unfunded liability 2013
– $134,354 unfunded liability 2012 (apparently the plan began in 2012 and they didn’t submit 2014 data).
– 9% increase
+++++
Marengo Police Pension Fund
– 44% funded
– $6,026,775 unfunded liability 2014
– $2,368,398 unfunded liability 2005
– 154% increase in unfunded liability from 2005 to 2014
+++++
McHenry Police Pension Fund
– 52% funded
– $18,242,250 unfunded liability 2014
– $07,905,160 unfunded liability 2005
– 131% increase in unfunded liability from 2005 to 2014
City of McHenry Mayor Susan Low endorses Jack Franks.
Jack Franks says, “I’m running for McHenry County Board Chairman to cut property taxes levy by 10% across the board.
This means a 10% property tax levy reduction from EVERY government body in our County.”
+++++
McHenry Township Firefighters Pension Fund
– 1,745% funded
– $3,532,437 surplus in 2014
– $0,005,482 unfunded liability in 2012
(It’s a newer fund, so there is not 10 years of historical data.
Would need to gather all the facts before assuming or concluding anything about those figures.)
+++++
Spring Grove Police Pension
– 42% funded
– $3,265,514 unfunded liability in 2014
– $0,999,313 unfunded liability in 2005
– 227% increase in unfunded liability from 2005 to 2014.
Village of Spring Grove President Mark Eisenberg endorses Jack Franks.
Jack Franks says, “I’m running for McHenry County Board Chairman to cut property taxes levy by 10% across the board.
This means a 10% property tax levy reduction from EVERY government body in our County.”
+++++
Woodstock Fire / Rescue District
– 52% funded
– $4,918,656 unfunded liability in 2014
– $0,592,861 unfunded liability in 2005
– 730% increase from 2005 to 2014.
++++++
Woodstock Police Pension Fund
– 66% funded
– $9,621,710 unfunded liability 2014
– $5,138,733 unfunded liability 2005
– 87% increase in unfunded liabilities from 2005 to 2014
City of Woodstock Mayor Brian Sager endorses Jack Franks.
Jack Franks says, “I’m running for McHenry County Board Chairman to cut property taxes levy by 10% across the board.
This means a 10% property tax levy reduction from EVERY government body in our County.”
++++++++++++++++++++++