Each year, the Illinois State Board of Education rates the financial condition of all public school districts in Illinois using audited financial statements and the School District Financial Profile tool. The purpose of the financial profile is to objectively assess the financial health of each school district to provide the public a better understanding of the financial position of their district. Ratings are based on five key financial indicators including: fund balance to revenue ratio; expenditure to revenue ratio; days cash on hand; percentage of short-term borrowing maximum percentage available; and percentage of long-term debt margin remaining. Each of these indicators is converted to a scale score between 1.00 and 4.00, with 4.00 being the highest rating.
The rating categories are as follows:
Financial Recognition 3.54 – 4.00
Financial Review 3.08 – 3.53
Financial Warning 2.62 – 3.07
Financial Watch 1.00 – 2.61
For the most recent profile, we are pleased to share that District 92 was placed in the Financial Recognition category with a perfect score of 4.00. These findings continue a long-time trend within the district. District 92 has received the Financial Recognition rating for the past thirteen years, and a perfect 4.00 score in each of the most recent nine years.
Additional information on the School District Financial Profile can be found on the web site of the Illinois State Board of Education at: https://www.isbe.net/Pages/School-District-Financial-Profile.aspx