St. Joseph-Ogden receives ISBE’s recognition status in 2020 Financial Profile Report

For the 5th year in a row, St. Joseph-Ogden CHSD #305 has been recognized at the top of the Illinois State Board of Education’s financial profile list.

St. Joseph-Ogden once again received “recognition” status in FY 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. 

Like other school districts in Champaign County, St. Joseph-Ogden dropped slightly in their financial rating because Early Property Tax Revenue was not received from the County Treasurers‘ Office before June 30, 2019.

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 St. Joseph-Ogden profile included 399 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 $4,567,332 to $3,475,517.

St. Joseph Ogden also has 63.33-percent of long-term debt margin remaining. 

According to St. Joseph-Ogden’s report, their total revenue for FY 2019 was $3,475,517 and their total expenditures were $4,120,879, resulting in a “2” score.

Locally, Heritage CUSD (Community Unit School District) #8 remained “recognition” category, as did Ludlow, Gifford, Champaign CUSD #4, Prairieview CCSD #197, Rantoul Township #193, St. Joseph CHSD (Consolidated High School District) #305, Thomasboro CCSD #130.

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.

Districts in the early warning and watch category are monitored to see if they need assistance from ISBE.

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