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Peoria Standard

Tuesday, December 24, 2024

Limestone Walters CCSD 316 holds no long-term debt

Elementaryschool085

Limestone Walters Community Consolidated School District 316 is one of the few school districts in Illinois with no long-term debt, according to Illinois State Board of Education 2016 financial reports obtained by the Peoria Standard. The reports are as of 2016.

State law allows Limestone Walters CCSD 316 to borrow a total of $3,331,106.

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, Limestone Walters 316, an elementary school district, had an EAV of $48,276,897, according to ISBE.

The following table ranks debt held by Peoria County school districts.

School district
Maximum debt allowed
Current debt
Percentage used
Oak Grove SD 68
$4,109,351
$4,015,668
97.7%
Princeville CUSD 326
$12,082,611
$11,540,000
95.5%
Brimfield CUSD 309
$14,898,996
$10,629,518
71.3%
Peoria SD 150
$185,016,135
$122,562,027
66.2%
Dunlap CUSD 323
$119,767,217
$57,960,092
48.4%
Norwood ESD 63
$3,459,136
$1,575,000
45.5%
Peoria Heights CUSD 325
$15,117,290
$6,687,017
44.2%
Elmwood CUSD 322
$10,920,786
$3,095,000
28.3%
Bartonville SD 66
$2,128,131
$565,000
26.5%
Limestone CHSD 310
$21,589,997
$5,049,973
23.4%
Illini Bluffs CUSD 327
$16,162,686
$3,728,280
23.1%
Il Valley Central USD 321
$37,156,742
$8,503,731
22.9%
Farmington Central CUSD 265
$20,107,794
$4,017,777
20%
Hollis Cons SD 328
$1,505,212
$285,000
18.9%
Pleasant Hill SD 69
$1,106,141
$196,734
17.8%
Pleasant Valley SD 62
$3,050,616
$530,000
17.4%
Monroe SD 70
$3,499,767
$200,000
5.7%
Oak Grove SD 68
$36,325,519
$1,948,742
5.4%
Limestone Walters CCSD 316
$3,331,106
$0
0%

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