Lincoln-Way Community High School District 210 said it reached the level of “financial recognition” as designated by the Illinois State Board of Education for the fiscal year that ended last June 30.
The designation will be official upon the ISBE’s review in the spring, though the Annual Financial Report that has been filed on the district’s behalf shows that District 210 will receive a financial profile score of 3.7 out of 4, according to a news release. The score qualifies the district for financial recognition status.
The District has touted its efforts to improve its financial outlook after three years under the “financial watch” designation between 2015 and 2017.
“We are proud to represent this community and are grateful for the continued support from our stakeholders,” said Joseph Kosteck, Lincoln-Way Board of Education president, in a statement. “The financial health of the district has successfully been restored, and we are confident that the policies and procedures now in place will allow us to maintain it moving forward.”
The ISBE financial profile analyzes a school district’s financial health at one point in time to assess its fund balance to revenue ratio, expenditure to revenue ratio, days cash on hand, percent of short-term borrowing ability remaining and percent of long-term debt margin remaining.
For information about the district’s financial history, visit lw210.org.