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Friday, April 19, 2024

Rochelle CCSD 231 holds $11.9 million in long-term debt

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Rochelle Community Consolidated School District 231 has $11,871,563 in debt, according to Illinois State Board of Education 2016 financial reports obtained by the NW Illinois News.

Because state law allows the district to borrow a total of $19,106,001, Rochelle CCSD 231 has reached 62.1 percent of its debt capacity.

The state limits how much school districts can borrow, capping their debt at a percentage of the district's property wealth, as determined by county and township assessors.

Community unit school districts are able to borrow up to 13.8 percent of their total property value, or Equalized Assessed Value (EAV). Elementary school districts are able to borrow up to 6.9 percent of their EAV.

However, school districts exceeding these debt caps are not punished or sanctioned, as the state has no enforcement mechanism in place.

In 2015, Rochelle 231, an elementary school district, had an EAV of $276,898,561, according to ISBE.

The following table ranks debt held by area school districts.

School district
Maximum debt allowed
Current debt
Percentage used
Paw Paw CUSD 271
$5,685,100
$4,539,991
79.9%
Meridian CUSD 223
$22,031,291
$17,063,294
77.5%
Forrestville Valley CUSD 221
$13,231,079
$9,171,708
69.3%
Rochelle CCSD 231
$19,106,001
$11,871,563
62.1%
Rochelle Twp HSD 212
$26,428,036
$13,325,000
50.4%
Oregon CUSD 220
$25,148,783
$11,316,433
45%
Eastland CUSD 308
$25,398,984
$11,307,223
44.5%
Kings Cons SD 144
$1,513,295
$651,819
43.1%
Warren CUSD 205
$7,851,302
$2,811,394
35.8%
Byron CUSD 226
$86,102,210
$27,852,721
32.3%
Creston CCSD 161
$2,151,565
$664,120
30.9%
Orangeville CUSD 203
$5,917,037
$1,692,000
28.6%
Ashton-Franklin Center CUSD 275
$12,332,620
$2,208,209
17.9%
Dixon USD 170
$47,358,193
$6,850,069
14.5%
Eswood CCSD 269
$1,853,412
$250,000
13.5%
Amboy CUSD 272
$18,639,676
$2,271,378
12.2%
Steward ESD 220
$1,803,763
$210,184
11.7%
Polo CUSD 222
$10,577,064
$1,030,924
9.7%
Scales Mound CUSD 211
$12,945,605
$0
0%
Stockton CUSD 206
$11,213,689
$0
0%

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