District 181 Earns Top-Tier Financial Rank

The following is a release from Community Consolidated School District 181:

The Illinois State Board of Education has placed District 181 in the Financial Recognition category, based on its June 30, 2010, School District Annual Financial Report.  This is the highest of four categories assessing financial strength.

“Local school boards are grappling with decreased revenue and late payments from the state,” State Superintendent of Education Christopher Koch said. “Many districts have had to make very difficult and painful decisions during the past several years in order to try and balance budgets. While we expect continued lean economic times, the Board is advocating for increased education funding for the next fiscal year. Even in times of great financial stress, we must continue to invest in education for our students and our state’s future.”

The designation reflects an analysis of districts’ financial vital signs, including ratios of fund balances to revenues and expenditures to revenues, the number of days cash on hand, the percent of short-term borrowing available, and the percent of long-term debt remaining. Based on these criteria, District 181 received a score of 3.8 on a 4.0-point scale.

District 181 has achieved the Financial Recognition rank in five of the last seven years (2004, 2005, 2006, 2008, 2010).  For more information on the school district financial profile system, see www.isbe.net/sfms/P/profile.htm.

The Comprehensive Annual Financial Report for the fiscal year ending June 30, 2010 is available on the District 181 website, www.d181.org, under "About District 181" in the Business Department section. It provides a 10-year overview of district finance.

“The district was able to earn the Illinois State Board of Education's highest Financial Profile ranking for the 2009-2010 school year through strategic budget reductions approved by the School Board and the efforts to reduce spending by the administration, teachers, and staff,” said Dr. Troy Whalen, assistant superintendent for business.