Community Consolidated School District 59 issued the following announcement on Oct. 15.
Each year, the Illinois State Board of Education releases its School District Financial Profile Report in order to illustrate and categorize the financial status of every district in the state.
Community Consolidated School District 59 has once again been placed into the “Financial Recognition” category, the highest designation the report offers. Schools that fall under this category require little to no review or involvement from ISBE in regard to finances.
ISBE sorts each school district into four categories: Financial Recognition, Financial Review, Financial Early Warning, and Financial Watch. The key indicators for where a district falls include fund balance to revenue ratio, expenditure to revenue ratio, days cash on hand, the percentage of remaining short-term borrowing ability, and percentage of remaining long-term borrowing ability.
All information is based on the Fiscal Year 2017 Annual Financial Reports. For a full list of schools and criteria, click here.
Original source can be found here.
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