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 2020.
Of the 851 school districts that reported, 728 were in the 2020 “recognition” category, the highest number in the history of the report.
Since the Evidence-based Funding model has been introduced, school districts throughout the state have seen better financial standing.
The final 3.55 score that Heritage received is on par with other schools in Champaign County which were also placed in the top category: Champaign CUSD 4, Gifford CCSD 188, Ludlow CCSD 142, Prairieview-Ogden CCSD 197, Rantoul Township HSD 193, St Joseph Ogden CHSD 305 and Thomasboro CCSD 130.
Fisher CUSD 1, Mahomet-Seymour CUSD 3, Rantoul City SD 137 and Tolono CUSD 7 were placed in Review while St Joseph CCSD 169 and Urbana SD 116 are in the Early Warning category.
For the last 18 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.
