Oakwood CUSD 76 moved up into the “recognition” rating for the fiscal year 2020 in the Illinois State Board of Education’s 2021 Financial Report.
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 3.70 score that Oakwood received is on par with other schools in Vermilion County schools which were also placed in the top category: Armstrong Twp HSD 225, Armstrong-Ellis Cons SD 61, Bismarck Henning CUSD, Danville CCSD 118, Georgetown-Ridge Farm CUD 4, Hoopeston Area CUSD 11, Potomac CUSD 10, Rossville-Alvin CUSD 7 and Westville CUSD 2.
Salt Fork CUSD 512 was placed in Review, the second highest 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.
