Jack Franks Valley Hi Rebate Plan Excludes Business

This letter recently appeared in the Northwest Herald.   It is reproduced here with permission from its author, Woodstock resident Curtis Payne.

Against Jack Franks

Jack Franks wants to give back a one-time payment to the taxpayers of $150.

So what happens when you don’t want to give back any money to businesses that have put into Valley Hi’s Levy?

Valley Hi Nursing Home fund’s cash on hand from FY 2006 through FY 2016 (projected). Over $41 million currently.

A class action lawsuit suing the county!

You champion for businesses but basically you could care less about the people who hire employees to stay in Illinois.

You were part of the problem in Springfield that has made Illinois what it is today!

Franks was a representative from 1998-2016.

During that time the last budget that was balanced was in 2001.

Did Franks fix the teachers union pension fund deficit?

No, not at all.

The state of Illinois has pilfered away that pension fund.

During Franks’ tenure, the pension deficit for the Teachers’ Retirement System has increased into the Billions and sits at around $130 Billion.

In 2005 and 2006 Franks along with Mike Madigan, voted to Not Fund the TRS, which ended up costing the taxpayers over $11 Billion.


Comments

Jack Franks Valley Hi Rebate Plan Excludes Business — 24 Comments

  1. This really is the party of Trump.

    How to solve problems?

    LAWSUITS!

  2. You’re absolutely right fair play that’s how we got Roe versus Wade.

    But locally you haven’t even begun to feel the pain.

    You see it’s a game anybody can play and although some may be a little late to the field.

    Game on.

  3. Let’s ask the real questions here: Who actually wrote this? Why does Curtis Payne, a Foreman at Rae Corp, give one iota if his boss gets a rebate? He shared on Facebook last week, “Don’t kill yourself for a job that would replace you with in a week.”

    Curtis also can’t navigate privacy settings on Facebook l.

    He does know how to post about baseball cards, like on February 16th, he posted a video sideways that said, “Two hours left, stop by St. John’s Lutheran Church in Woodstock & get your sports cards. Great for Easte Baskets”

    Or, on February 14th, he said, “My ad got upgraded in the Northwest Herald today, February 14th, page 27 upper right hand corner. Check it out.” It’s about baseball cards!

    So, he is willing to share a post about baseball cards but not a hard written letter to the editor on his Facebook?

    Oh look!

    Curtis’ friends list is public!

    Which McHenry County Republicans are His friends?
    Andrew Gasser and Michael Rein

    Nice letter Mike.

    Wonder if you will give up your pilfered pension?

  4. Northwest Herald

    $15M back to taxpayers? McHenry County Board pushes Valley Hi rebate

    – Refund could mean $150 to 88,000 homes

    by Ed Komenda

    Friday February 8, 2019

    “The proposal could go before the County Board for a vote in March.

    The county’s Finance and Audit Committee discussed the latest rebate resolution at a meeting Thursday morning.”

    nwherald.com/2019/02/06/15m-back-to-taxpayers-mchenry-county-board-pushes-valley-hi-rebate/avrdau8

  5. McHenry County government

    County News

    Rebate Plan Will Mean 30 Percent Property Tax Refund for Homeowners

    February 7, 2019 at 10:05AM

    MchenryCountyil.gov/Home/Components/News/News/14515/17

    The word “homeowner” appears nine times in the news release.

    The word “business” does not appear in the news release.

  6. Woodstock Independent

    Homeowners due for some payback

    by Woodstock Independent

    February 13, 2019 at 11:51AM

    TheWoodstockIndependent.com/2019/02/homeowners-due-for-some-payback

    The word “homeowner” appears eight times.

    The word “business” is not in the article.

  7. Northwest Herald

    Local Editorials

    Our View: Thumbs-up to returning taxpayers money from Valley Hi

    February 9, 2019

    “We agree that qualifying residents – ones who took the homestead exemption in the 2017 tax year and have paid their taxes on time – should get a refund.”

    nwherald.com/2019/02/08/our-view-thumbs-up-to-returning-taxpayers-money-from-valley-hi/aqxq0j4

    Just as in the other articles, no mention of business, company, etc.

  8. McHenry County Meeting Portal

    Finance & Audit Committee meeting (public meeting)

    February 7, 2019 at 8:15AM

    County Board Conference Room, Administration Building

    667 Ware Road, Woodstock

    mchenrycountyil.iqm2.com/Citizens/Detail_Meeting.aspx?ID=5206

    Agenda Item

    9. Old Business > A. Discussion > 1. Valley Hi Rebate

    +++++++++++

    Audio recording of that meeting

    mchenrycountyil.iqm2.com/Citizens/SplitView.aspx?Mode=Video&MeetingID=5206&MinutesID=4168&FileFormat=pdf&Format=Minutes&MediaFileFormat=wma

    Start at 1:08 for the discussion of the Valley Hi rebate.

  9. Regarding the last sentence in the letter to the editor that in the post.

    The reference is to Public Act 94-0004 (PA 94-0004), which was signed into law during the 94th Illinois General Assembly (ILGA).

    The 94th GA took place from January 2005 to January 2007.

    Democrat Governor Rod Blagojevich signed Senate Bill 27 (SB 27) into law as PA 94-0004 on June 1, 2005.

    Democrat Michael Madigan was the House Speaker, and Democrat Emil Jones Jr (Emil Jones II) was the Senate President.

    PA 94-0004 modified the Edgar Ramp.

    ++++++

    The Edgar Ramp

    Republican Governor Jim Edgar signed Senate Bill 533 (SB 533 into law as Public Act 88-0593 (PA 88-0593) on August 22, 1994.

    Democrat Michael Madigan was House Speaker, and Republican James Pate Philip was the Senate President.

    The Edgar ramp as designed began with a 15 year ramp of escalating payments by the state to the 5 state pension funds (TRS, SERS, SURS, JRS, and GARS).

    That 15 year period would have been from 1996 to 2010.

    As designed, the ramp payments were lower than actuarial payments.

    The actuarial payments were reduced by the legislature, a practice known as kicking the can (the can being actuarial payments).

    It was a farce from the day 1.

    That 15 year farce was to be followed by 35 years of level percent of payroll state payments to the pension fund, from 2011 – 2045.

    15 years + 35 years = 50 years.

    Thus it was a 50 year funding plan.

    That makes it a double farce.

    No actuary would recommend a 50 year funding plan.

    +++++++++

    In 2005, the Democrat controlled legislature and Governor modified the double farce, creating a triple farce.

    That was PA 94-0004.

    PA 94-0004 was a big bill.

    One aspects of it is called a Pension Holiday.

    The holiday reduced the state payments to the pension funds.

    The holiday did not skip the payments to the pension funds.

    Presumably the word holiday was used because the legislatures and Governor could have a party now (at future taxpayers expense) by diverting the money that would have gone to pension funding, to other priorities.

    +++++++

    The Chicago Tribune discoverd the IEA, IFT, and SEIU filed witness slips in support of SB 27 (that became PA 94-0004) and IEA, IFT, and SEIU.

    The IFT then claimed they did not support the pension holiday aspect of the bill.

    Regardless of whether or not that claim was true, the IFT didn’t make much of a fuss, if any, to the media, at that time, over the lowered state contribution.

    +++++++

    Jack Franks (63rd House District) and Michael Madigan were yes votes for SB 27 on May 29, 2005.

    The roll call summary was:

    61 Yeas

    53 Nays

    4 Excused Absences

    +++++++++

    Other State Representatives covering McHenry County in the 94th General Assembly (GA):

    Michael Tryon, Republican, 64th House District, voted No.

    Mark Beaubien, 52nd House District, Assistant Republican Leader, voted No.

    +++++++++

    State Senators covering McHenry County in the 94th GA:

    William E Peterson, Republican, Assistant Minority Leader, 26th Senate District, voted No.

    Pam Althoff, Republican, 32nd Senate District, voted No.

    ++++++++++

    The Senate roll call summary was:

    32 Yeas

    26 Nays

    1 Not Voting (did not vote). The Senator who did not vote was Peter Roskam.

  10. I am more interested in how did the County Board Chair salary compensation increase by $2,500 without a resolution relative to elected official compensation?

  11. I’m more interested why Joe Tirio still hasn’t eliminated the recorders’ office??

  12. Tirio Did eliminate the Recorder!

    He’s not taking pay.

    He’s doing both jobs for the one pay.

    The functions of the Recorfers office will still need to take place under the Clerks office, from which it originated.

    People who overpaid in taxes that moved from McHenry County will also not get a rebate.

    It was their money. That seems wrong to me.

  13. In 2005 and 2006 Jack Franks and Mike Madigan voted to Not Fund the TRS, which ended up costing the taxpayers over $11 Billion.

    That is the last sentence in the blog article.

    ++++++++

    As covered in an earlier comment, that sentence was not 100% accurate, as the bill resulted in TRS receiving less funding.

    As some context, here are the State contributions to TRS around that time:

    2002 – $1,588,509,682

    2003 – $1,753,282,676

    2004 – $6,258,086,538

    2005 – $1,817,352,355

    2006 – $1,456,882,200

    2007 – $1,679,834,675

    ++++++++

    Jack Franks and Mike Madigan also voted for a 2003 bill that became law which changed the state contribution to the TRS pension fund in 2003 and 2004 and ultimately cost the taxpayers money.

    The chart above indicates the state contribution to the pension fund was $6.2B in 2004.

    Isn’t that great?

    Isn’t that a good thing?

    ++++++++

    The rest of the story.

    Here’s the scheme.

    The state borrowed money, by issuing pension obligation bonds, that was placed into the state pension funds.

    Here’s the double down.

    Some of the borrowed money replaced the state’s annual contribution to the pension fund.

    More specifically, the State used a portion of the bond proceeds to pay part of the FY 2003 State contribution and all of the FY 2004 State contributions to the pension funds.

    Issuing bonds to reduce an unfunded pension liability is risky and a bad idea for a number of reasons.

    Doubling down and using the bond proceeds to reduce the annual employer contribution to the pension fund is a worse idea.

    Here’s why.

    As an analogy, your employer takes out a loan to make the annual employer contribution to its pension fund.

    That frees up money in the employer’s budget for other spending.

    For instance, salary hikes for employees.

    Isn’t that great?

    You earn more.

    You love your boss.

    Well it’s great as long as somehow, some way there is enough money in the pension fund to payout your pension in full.

    If your pension is not paid in full, then you would be angry at your now former boss if you understand the scheme that took place way back when.

    But what are you going to do 10, 20, 30, 40, 50, or 60 years later if your pension is not paid in full?

    In the case of elected politicians, those elected politicians are likely long gone.

    +++++++

    Here’s the details of the pension obligation bond legislation.

    On April 7, 2003, Governor Rod Blagojevich signed House Bill 2660 (HB 2660) into law as Public Act 93-0002 (PA 93-0002).

    Jack Franks (63rd District), House Speaker Mike Madigan (22nd District), and Senate President Emil Jones Jr (14th District) all voted for HB 2660 in the 96th GA.

    Here are the votes of the other McHenry County State Legislators, all Republicans:

    Rep Mark Beaubien (52nd District) voted yes.

    Rep Rosemary Kurtz (64th District; formerly a CHSD 155 teacher, Crystal Lake City Treasurer, Crystal Lake Zoning Board of Appeals member, and currently on the CHSD 155 school board) voted no.

    Senator Pam Althoff (32nd District) voted Present.

    Senate William E Peterson (26 District, Assistant Minority Leader) voted No.

    ++++++

    The Illinois Pension Scam.

  14. Yeah, ok Cyndi.

    The Domain Name, http://www.iWontHireMyWife.com was registered August 31st, 2015 by Joe Tirio. Joe added to the site, “If elected, I will pursue this option with an eye toward completion by the END OF MY FIRST TERM.
    On March 15th, I need you to do your part for a more cost-effective and efficient county government.

    Vote for Joe Tirio for Recorder.
    Principled, conservative, qualified leadership.

    This would require that I build a compelling business case, present it to the County Board and ask that the question of consolidation be put on the ballot. Once on the ballot, the people of the county will vote on it and likely pass it”

    FACT: IT HAS BEEN MORE THAN 1,274 DAYS AND THE OFFICE OF THE RECORDER IS STILL AN ELECTED OFFICE IN MCHENRY COUNTY GOVERNMENT. JOE NEVER PRESENTED A ‘COMPELLING BUSINESS CASE’ OR ‘PRESENTed IT TO THE COUNTY BOARD AND ASK FOR A QUESTION OF CONSOLIDATION TO BE PUT ON THE BALLOT.’ JOE HAS NEVER ONCE SUPPORTED CONSOLIDATION BACKED UP BY ACTION.

    +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

    February 8th, 2016 – Joe said to the Daily Herald, “Qualifications: I have a long history of innovation, process improvement and leadership through change. The opportunity to consolidate the Recorder’s office into the Clerk’s office has either been overlooked or ignored. Doing so has cost the taxpayers hundreds of thousands, perhaps millions of dollars. I will pursue merging the two offices while in my first term.”

    Fact: JOE DID NOT, NOR WAS HE SUCCESSFUL IN PASSING A RESOLUTION EITHER BY PETITION OR BY PETITIONING THE COUNTY BOARD TO REMOVE THE OFFICE OF RECORDER.

    +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

    Since elected into office, Joe has tried to increase fees associated with the automation fund, he has potentially illegally invested the fund without oversight of the county board, Joe has failed to provide line item detail into how he is administering the fund, Joe additionally has taken both the Recorder Salary, then the Clerk’s salary without first eliminating the job position of recorder.

    +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

    Half baked ideas are what has resulted from his leadership.

  15. Tirio has stated he is not drawing salary of Recorder while holding both offices of Recorder and County Clerk, and fulfilling duties of both offices.

    What a leader by example.

    Tirio represents an existential threat to the monied Professional Political Class.

  16. Tirio’s first term for Recorder goes thru 2020 just like the referendum I and the people voted on.

    Actually he is entitled to take both salaries thru 2020 but refused the Rercorder’s Salary as soon as he became Clerk.

    He’s doing both jobs for one salary.

    Good thing he was elected so the county could realize the savings for the Recorderr’s salary right away.

    Promise made, promise kept.

    Joe Tirio for County Board Chairman!!!

  17. So, I typically don’t pay these comments any mind, but the comment from “Fair Play” was brought to my attention.

    FACT: I ran on a platform that included eliminating the role of Recorder and consolidating the functions into the Clerk’s office.
    FACT: I prepared a resolution to the board to do just that, participated in a meeting of an ad hoc committee on the subject, and the board approved the resolution to put the question on the ballot for the people to vote on.
    FACT: The people overwhelmingly voted in favor of the question.
    FACT: On December 1, 2020, there will be no more Recorder… Just as I promised and as the people wanted. PERIOD!
    FACT: I volunteered to hold both elected positions for one salary two years in advance of what was planned, saving approximately $250,000. (This might not have set well with some that might have hoped to put a friend into the Recorder’s office once I resigned.)
    FACT: The staff of the Recorder’s office worked their behinds off to implement changes that have saved money (head count reductions) and improved service (Document turn around in <1 day rather than more than 4, Increased e-Record to more than 50%, implemented electronic return of documents, improved our free search tool to provide users with more data at no cost, and much more).
    FACT: I proposed a reduced fee structure that was adopted by the board.
    FACT: Liars will use half-truths to tell their lies.

    Here's another fact, "Fair Play"… we remember, we vote, and we've had enough.

    LOL Fairin… but stranger things have happened. 😉

  18. Oh okay, I’m an idiot. Sorry I was getting my misinformation from Jack. Wouldn’t be the first time. Thanks for clearing all this up.

  19. The comment

    Mark on 02/25/2019 at 4:01 pm said:

    has an error.

    The amounts posted were the total contribution to the TRS pension fund, consisting of:

    – Member Contributions

    – State Contribution

    – Employer (District) Contributions

    +++++++++++++

    Here is only the State Contribution to the TRS pension fund for those years:

    2002 – $0,814,739,766

    2003 – $0,929,709,762

    2004 – $5,361,851,773

    2005 – $0,906,749,310

    2006 – $0,534,305,256

    2007 – $0,737,670,628

    ++++++

    Pension obligation bonds issued as a result of PA 93-0002 were used for part of the 2003 & all of the 2004 contribution.

    The lower contributions in 2005 & 2006 were the result of PA 94-0004.

    +++++

    GARS is the least funded state pension, and one of the least funded pensions in the entire state and country.

    Jack Franks is receiving a GARS pension and employed as McHenry County Board member.

    ++++++

    The state pensions are TRS, SERS, SURS, JRS, & GARS.

    There are also lots of county and local public sector pensions in Illinois.

  20. Here’s the best part of the comment above.

    There’s one thing Joe didn’t deny: investing the automation fund…..which is illegal…. tick tock.

  21. Seriously is that what you’re blathering on about? Actually, if true, it sounds like a smart move to take advantage of Trump’s economy.

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