Heritage once again finds itself at the top of the Illinois State Board of Education’s financial profile list with a “recognition” rating for the fiscal year 2019.
Of the 851 school districts that reported, 706 were in the 2020 “recognition” category, the highest number in the history of the report.
The 212-page report cites an increase of state funding from the Evidence-based Funding model, increased EAVs, and lesser reliance on debt.
The final 3.55 score that Heritage received was unique in Champaign County as many districts were affected by late Early Property Tax Revenue.
For the last 17 years, ISBE has reviewed each district’s financial profile based on fund balance to revenue ratio, expenditure to revenue ratio, days of cash on hand and percent of short-term and long-term borrowing ability remaining.
The State then gives each district a score and places them in the financial recognition (highest), review, early warning or watch (lowest) category.
Highlights of Heritage’s profile included 252 days of cash on hand, whereas ISBE recommends 180 days, 100-percent of short-term borrowing remaining and a fund balance to revenue ratio of $3,066,919 to $3,430,024.
Heritage also scored high with 62.59 percent of their long-term debt margin remaining.
The lowest score Heritage received was in the expenditure to revenue ratio where the total expenditures totaled $4,394,117 to $3,430,024.
Locally, Heritage CUSD (Community Unit School District) #8 was joined by Ludlow, Gifford, Champaign CUSD #4, Prairieview CCSD #197, Rantoul Township #193, St. Joseph CHSD (Consolidated High School District) #305, Thomasboro CCSD #130 in the “recognition” category.
The 2020 report showed that Rantoul City Schools #137, Fisher, Tolono CUSD #7 were placed in the “review” category while St. Joseph CCSD #169 and Urbana are in the “early warning” category.
Mahomet-Seymour joined eight other schools in the lowest “watch” category.
[pdf-embedder url=”https://sjodaily.com/wp-content/uploads/2020/04/Heritage-2020-ISBE-rating.pdf” title=”Heritage 2020 ISBE rating”]
