North Cook News

The Illinois State Board of Education (ISBE) has placed Prospect Heights SD 23 on its "Financial Recognition" list.

ISBE rates school districts on their fund balance and expenditure-to-revenue ratios, days of cash on hand, and percentage of remaining short- and long-term borrowing ability.

Of Illinois' 857 school districts, 568, or 66 percent, earned the state's "Financial Recognition" designation, suggesting they are fiscally sound.

The other 34 percent statewide, or 289 districts, received lower marks from ISBE, suggesting they need work:

• 196 (23 percent) are under "Financial Review"

• 61 (7 percent) were given an "Early Warning"

• 32 (4 percent) are under "Financial Watch," including Chicago Public Schools and seven others in the Metro-East.

In Cook County, 109 of the county's 144 school districts (75.69 percent) earned the "Financial Recognition" designation.

Three districts -- Berwyn South SD 100, Burnham SD 154-5 and Dolton SD 149 -- were placed under "Early Warning."

29 districts -- Arbor Park SD 145, Atwood Heights SD 125, Bellwood SD 88, Berkeley SD 87, Brookfield Lagrange Park SD 95, Brookwood SD 167, Calumet City SD 155, Cook County SD 130, Country Club Hills SD 160, Dolton SD 148, Evanston CCSD 65, Evergreen Park ESD 124, Ford Heights SD 169, Forest Ridge SD 142, Hazel Crest SD 152-5, Homewood Flossmoor CHSD 233, Homewood SD 153, Hoover-Schrum Memorial SD 157, Komarek SD 94, La Grange SD 102, Lemont Twp HSD 210, Maywood-Melrose Park-Broadview 89, Pennoyer SD 79, River Grove SD 85-5, Sunnybrook SD 171, Thornton SD 154, Thornton Twp HSD 205, W Harvey-Dixmoor PSD 147 and Willow Springs SD 108 -- were placed under "Financial Review."

ISBE reports that districts are increasingly "borrowing to obtain needed cash flow" and "continue to issue long-term debt to sustain day-to-day operations."

Schools are "continuing to break even or are spending more than they are realizing in revenue," the report says.

Illinois public school districts issued $307.2 million in long-term debt in fiscal year 2015 versus $356.5 million in fiscal year 2014. In 2015, 499 -- or 58 percent -- spent more money than they took in, borrowing or using taxpayer-provided reserves to cover the deficit.

ISBE's "School District Financial Profile" was first issued in 2003.