Almost 60 percent of Illinois school districts deficit spend
New state data shows most school districts across Illinois are spending more than they’re taking in and dipping into reserves or borrowing to stay afloat.
The Chicago Tribune (http://trib.in/1pLQv8J ) reports that the 2016 School District Financial Profile Scores was released Wednesday by the Illinois State Board of Education to gauge the financial health of school districts.
Although fewer districts fell into the lowest financial category and more districts made it into the top financial category, almost 60 percent of districts are spending more than their revenue in main operating accounts. The state hasn’t seen such a high percentage since at least the 2010 school year.
Board of Education officials are concerned the districts can look good on paper and increase their financial profile by borrowing and dipping into reserves.