Survey says: Illinois school districts are in better fiscal shape

<p align="justify">Illinois school districts are getting into better fiscal shape, State Board of Education officials said Thursday as they released the latest "financial profile," which puts two Tri-County Area school districts in the two worst categories.

<p align="justify">Riverview District 2 in Woodford County was designated as being on "financial watch," just as it was last year. That is the lowest of four possible ratings.

<p align="justify">Peoria District 150 improved on last year's designation of "financial watch" and advanced one level to "financial early warning."

<p align="justify">Other Tri-County Area districts received designations of "financial recognition," which is the highest of the four ratings, or "financial review," the second-highest rating.

<p align="justify">Compared with last year, the new financial profile report places more school districts into the top category and fewer into the lowest category. In a news release, ISBE officials credited the progress to Gov. Rod Blagojevich's "commitment to improved funding for schools."

<p align="justify">"There are no easy decisions when it comes to school funding, but this clearly shows that local boards are being good stewards with the resources the governor and lawmakers have been able to provide them," state school Superintendent Christopher Koch said in the news release. "It's very promising to see districts making these financial improvements."

<p align="justify">Statewide, 602 of Illinois' 873 school districts -- 69 percent -- are in the top category of "financial recognition." A year ago, 513 school districts received that designation.

<p align="justify">At the other end of the spectrum, 30 school districts are on "financial watch." A year ago, 53 school districts got that designation.

<p align="justify">The latest financial profile ratings are based on the State Board of Education's analysis of annual financial reports that school districts submitted for the year ending June 30, 2007.

<p align="justify">Five indicators are used to determine a district's financial rating: fund balance-to-revenue ratio, expenditures-to-revenues ratio, days of cash on hand, percent of short-term borrowing available and percent of long-term debt remaining.

<p align="justify">The full financial-profile report can be accessed online at www.isbe.net/sfms/P/profile.htm.

<p align="justify">Adriana Colindres can be reached at (217) 782-6292 or adriana.colindres@sj-r.com.