Northfield Twp HSD 225 holds $87.3 million in long-term debt

By Local Labs News Service

Jul 14, 2017

Northfield Township High School District 225 has $87,295,061 in debt, according to Illinois State Board of Education 2016 financial reports obtained by the North Cook News.

Because state law allows the district to borrow a total of $302,952,720, Northfield Twp HSD 225 has reached 28.8 percent of its debt capacity.

The state limits how much school districts can borrow, capping their debt at a percentage of the district's property wealth, as determined by county and township assessors.

Community unit school districts are able to borrow up to 13.8 percent of their total property value, or Equalized Assessed Value (EAV). Elementary school districts are able to borrow up to 6.9 percent of their EAV.

However, school districts exceeding these debt caps are not punished or sanctioned, as the state has no enforcement mechanism in place.

In 2015, Northfield Township 225, a high school school district, had an EAV of $4,390,619,134, according to ISBE.

The following table ranks debt held by area school districts.

School district

Maximum debt allowed

Current debt

Percentage used

Sunset Ridge SD 29

$27,692,454

$25,656,780

92.6%

Ridgewood CHSD 234

$35,856,906

$33,215,000

92.6%

CCSD 62

$102,491,012

$89,125,000

87%

Skokie SD 73-5

$17,570,565

$13,695,000

77.9%

R O W V A CUSD 208

$10,948,235

$8,106,968

74%

Golf ESD 67

$17,665,051

$11,290,470

63.9%

Winnetka SD 36

$80,466,195

$50,960,945

63.3%

Niles Twp HSD 219

$239,737,581

$142,342,184

59.4%

Evanston CCSD 65

$168,027,946

$80,168,206

47.7%

River Trails SD 26

$32,035,141

$14,732,622

46%

Kenilworth SD 38

$20,487,301

$7,665,000

37.4%

Wheeling CCSD 21

$107,229,023

$37,906,994

35.4%

Skokie SD 69

$25,132,663

$8,515,000

33.9%

Lincolnwood SD 74

$39,066,687

$12,740,000

32.6%

Glencoe SD 35

$51,082,492

$15,734,416

30.8%

Northfield Twp HSD 225

$302,952,720

$87,295,061

28.8%

Lake Park CHSD 108

$125,280,416

$34,979,441

27.9%

Pennoyer SD 79

$9,133,181

$2,310,000

25.3%

Palatine CCSD 15

$210,248,639

$43,086,609

20.5%

Wilmette SD 39

$100,085,516

$19,141,663

19.1%

Mount Prospect SD 57

$37,137,725

$6,728,223

18.1%

East Maine SD 63

$64,716,077

$11,671,503

18%

Arlington Heights SD 25

$105,839,965

$16,894,138

16%

Evanston Twp HSD 202

$168,027,946

$26,640,464

15.9%

Glenview CCSD 34

$107,872,897

$16,835,000

15.6%

Morton Grove SD 70

$18,228,731

$2,700,000

14.8%

Avoca SD 37

$29,660,650

$3,857,203

13%

Park Ridge CCSD 64

$94,653,864

$11,940,287

12.6%

West Northfield SD 31

$35,437,285

$4,366,122

12.3%

Skokie SD 68

$57,841,927

$6,717,688

11.6%

Comm Cons SD 59

$167,535,132

$18,005,000

10.7%

Township HSD 214

$508,149,534

$54,212,292

10.7%

Union Ridge SD 86

$11,461,777

$1,131,845

9.9%

East Prairie SD 73

$11,925,472

$660,460

5.5%

Norridge SD 80

$23,621,983

$670,000

2.8%

Maine Township HSD 207

$272,786,143

$7,310,000

2.7%

Northbrook/Glenview SD 30

$43,016,713

$328,769

0.8%

Rosemont ESD 78

$21,974,911

$27,125

0.1%

Niles ESD 71

$26,495,501

Northbrook ESD 27

$48,607,904

Northbrook SD 28

$68,365,434

Fairview SD 72

$25,468,257

Schaumburg CCSD 54

$270,797,928

ORGANIZATIONS IN THIS STORY

Northfield Township• Northfield Township High School District 225• Illinois State Board Of Education

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