Health & Fitness
School District 64 Earns 4th Consecutive Perfect Score in State Financial Review
State gives District 64 finances perfect 4.0 score
For the fourth consecutive year, Park Ridge-Niles School District 64 has earned a perfect 4.0 score on the Illinois State Board of Education (ISBE) School District Financial Profile. This again places District 64 at the peak of ISBE’s “Financial Recognition” range, the highest category of financial strength.
This is the sixth year that District 64 has been ranked in the top category.
“The community’s support for education in the 2007 property tax referendum, coupled with ongoing spend management, has allowed the District to rebuild and maintain financial strength,” Business Manager Becky Allard recently told the Board of Education.
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The current Board of Education spotlighted managing costs to maintain the District’s sound financial condition as one of its critical goals over the past two years.
Looking back a decade, however, District 64’s profile actually has spanned all four categories the ISBE uses to designate a district’s financial condition.
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The 2013 profile offers a “snapshot” of the District’s financial condition at the close of the fiscal year on June 30, 2012. It allows taxpayers to see how District 64 compared to other districts on five key indicators: fund balance to revenue ratio; expenditure to revenue ratio; days cash on hand; percent of short-term borrowing available; and percent of long-term debt remaining.
District 64 also announced an update to the Education Finance Fact Book, originally created in conjunction with the Community Finance Committee. The “ISBE Financial Profile” chapter is the first to be revised and re-published to the District 64 website www.d64.org > Business Services.
