Because state law allows the district to borrow a total of $8,029,513, Beardstown CUSD 15 has reached 19.4 percent of its debt capacity.
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, Beardstown 15, an unit school district, had an EAV of $58,184,879, according to ISBE.
The following table ranks debt held by area school districts.
School district
Maximum debt allowed
Current debt
Percentage used
West Washington Co CUD 10
$10,063,884
$25,125,000
249.7%
Lincoln ESD 27
$8,256,329
$9,535,000
115.5%
Knoxville CUSD 202
$13,516,550
$15,542,225
115%
Gillespie CUSD 7
$9,245,853
$10,312,763
111.5%
Delavan CUSD 703
$7,575,726
$7,355,000
97.1%
Damiansville SD 62
$1,146,341
$1,070,000
93.3%
Virginia CUSD 64
$4,868,067
$4,540,000
93.3%
Vandalia CUSD 203
$15,221,909
$14,111,900
92.7%
Galesburg CUSD 205
$56,147,000
$51,687,161
92.1%
South Pekin SD 137
$986,846
$800,000
81.1%
Griggsville-Perry CUSD 4
$5,105,368
$4,128,300
80.9%
Nokomis CUSD 22
$6,609,111
$5,340,000
80.8%
Germantown Hills SD 69
$10,989,945
$8,735,000
79.5%
Centralia HSD 200
$12,579,682
$9,933,439
79%
Triopia CUSD 27
$5,875,425
$4,580,435
78%
La Harpe CSD 347
$2,877,802
$2,150,000
74.7%
R O W V A CUSD 208
$10,948,235
$8,106,968
74%
Havana CUSD 126
$10,793,947
$7,610,137
70.5%
Calhoun CUSD 40
$5,575,386
$3,755,554
67.4%
Patoka CUSD 100
$4,895,587
$3,236,189
66.1%
Pleasant Hill CUSD 3
$3,486,525
$2,269,944
65.1%
Central SD 51
$17,530,817
$11,252,173
64.2%
Brown County CUSD 1
$11,214,992
$7,190,296
64.1%
Southwestern CUSD 9
$17,562,567
$11,185,592
63.7%
Aviston SD 21
$3,502,664
$2,129,800
60.8%
Porta CUSD 202
$21,418,567
$12,789,955
59.7%
Jacksonville SD 117
$53,792,936
$32,000,000
59.5%
Tremont CUSD 702
$15,678,745
$9,135,000
58.3%
N Pekin & Marquette Hght SD 102
$4,620,055
$2,670,000
57.8%
Wesclin CUSD 3
$18,524,662
$10,650,000
57.5%
South Central CUD 401
$7,623,325
$4,339,485
56.9%
Bartelso SD 57
$1,582,097
$897,000
56.7%
East Peoria SD 86
$25,591,260
$13,362,280
52.2%
Waverly CUSD 6
$6,717,552
$3,500,000
52.1%
South Fork SD 14
$2,721,254
$1,405,000
51.6%
Brownstown CUSD 201
$2,688,377
$1,351,117
50.3%
Central City SD 133
$1,140,542
$565,000
49.5%
Chester-East Lincoln CCSD 61
$5,091,728
$2,505,000
49.2%
Payson CUSD 1
$6,610,860
$3,115,900
47.1%
Washington CHSD 308
$33,725,419
$15,340,000
45.5%
North Wamac SD 186
$644,168
$282,000
43.8%
East Peoria CHSD 309
$31,341,508
$13,367,980
42.7%
Taylorville CUSD 3
$39,658,352
$16,443,591
41.5%
Washington SD 52
$10,194,594
$4,030,000
39.5%
Warsaw CUSD 316
$4,566,475
$1,795,000
39.3%
Panhandle CUSD 2
$8,557,361
$3,327,653
38.9%
Deer Creek-Mackinaw CUSD 701
$15,353,227
$5,852,747
38.1%
Selmaville CCSD 10
$2,298,019
$875,199
38.1%
St Elmo CUSD 202
$4,286,135
$1,632,000
38.1%
Monmouth-Roseville CUSD 238
$17,175,489
$6,490,072
37.8%
Morrisonville CUSD 1
$5,603,180
$2,085,000
37.2%
Western CUSD 12
$7,042,511
$2,608,881
37%
Salem SD 111
$6,217,492
$2,302,456
37%
West Lincoln-Broadwell ESD 92
$5,321,720
$1,935,000
36.4%
A-C Central CUSD 262
$6,823,379
$2,463,582
36.1%
Pikeland CUSD 10
$15,094,849
$5,423,536
35.9%
Rankin CSD 98
$4,041,730
$1,420,000
35.1%
Grant Park CUSD 6
$9,685,246
$3,293,911
34%
Mulberry Grove CUSD 1
$3,892,256
$1,310,003
33.7%
Ramsey CUSD 204
$3,351,280
$1,105,000
33%
North Mac CUSD 34
$16,512,981
$5,312,823
32.2%
CUSD 3 Fulton County
$5,871,969
$1,880,000
32%
Nashville CCSD 49
$7,656,215
$2,420,000
31.6%
Midwest Central CUSD 191
$11,974,787
$3,715,000
31%
Sandoval CUSD 501
$2,569,307
$795,000
30.9%
Willow Grove SD 46
$886,268
$263,000
29.7%
Hillsboro CUSD 3
$24,982,763
$7,215,000
28.9%
Centralia SD 135
$7,796,001
$2,235,000
28.7%
Creve Coeur SD 76
$4,145,692
$1,188,000
28.7%
Pekin CSD 303
$43,645,711
$12,360,000
28.3%
Breese ESD 12
$7,931,639
$2,237,000
28.2%
Athens CUSD 213
$16,640,488
$4,687,810
28.2%
United CUSD 304
$21,574,716
$6,070,000
28.1%
Lincoln CHSD 404
$20,406,678
$5,626,000
27.6%
Pana CUSD 8
$14,189,726
$3,889,000
27.4%
Astoria CUSD 1
$2,969,197
$755,000
25.4%
Iuka CCSD 7
$1,203,348
$300,000
24.9%
Quincy SD 172
$116,368,884
$28,399,255
24.4%
Illini Central CUSD 189
$11,124,973
$2,657,709
23.9%
CUSD 4
$8,804,767
$2,077,787
23.6%
Schuyler-Industry CUSD 5
$16,481,832
$3,812,393
23.1%
West Central CUSD 235
$16,785,730
$3,868,220
23%
Central A & M CUD 21
$12,571,931
$2,825,000
22.5%
Dallas ESD 327
$1,378,505
$290,000
21%
Stark County CUSD 100
$14,042,605
$2,917,613
20.8%
Farmington Central CUSD 265
$20,107,794
$4,017,777
20%
Beardstown CUSD 15
$8,029,513
$1,558,260
19.4%
Canton Union SD 66
$28,038,747
$5,306,336
18.9%
North Greene CUSD 3
$9,050,337
$1,692,947
18.7%
Litchfield CUSD 12
$17,593,154
$3,210,000
18.2%
Scott-Morgan CUSD 2
$2,756,247
$501,000
18.2%
Northwestern CUSD 2
$5,154,342
$875,000
17%
Albers SD 63
$1,670,337
$283,000
16.9%
Raccoon Cons SD 1
$2,335,060
$392,848
16.8%
Carrollton CUSD 1
$8,859,866
$1,477,835
16.7%
Carlinville CUSD 1
$20,691,509
$3,386,534
16.4%
New Holland-Middletown ED 88
$2,048,587
$325,000
15.9%
Morton CUSD 709
$76,466,953
$11,100,287
14.5%
Lewistown CUSD 97
$7,421,155
$1,055,000
14.2%
Pekin PSD 108
$32,751,682
$4,295,000
13.1%
Meredosia-Chambersburg CUSD 11
$3,833,849
$500,000
13%
Abingdon-Avon CUSD 276
$12,348,962
$1,584,993
12.8%
Kell Cons SD 2
$551,098
$70,000
12.7%
Macomb CUSD 185
$35,057,700
$4,431,478
12.6%
Robein SD 85
$1,944,179
$234,114
12%
Staunton CUSD 6
$14,901,371
$1,785,000
12%
Ashley CCSD 15
$1,426,482
$170,000
11.9%
Coulterville USD 1
$2,072,572
$243,000
11.7%
Nashville CHSD 99
$9,175,450
$1,065,000
11.6%
Bunker Hill CUSD 8
$7,016,983
$795,000
11.3%
District 50 Schools
$6,065,784
$605,000
10%
Bushnell Prairie City CUSD 170
$8,063,322
$631,313
7.8%
Carthage ESD 317
$5,010,571
$350,000
7%
Edinburg CUSD 4
$6,090,664
$415,000
6.8%
Spoon River Valley CUSD 4
$5,669,819
$372,441
6.6%
Salem CHSD 600
$11,993,989
$775,222
6.5%
Germantown SD 60
$2,431,021
$135,759
5.6%
Oakdale CCSD 1
$702,339
$37,715
5.4%
Irvington CCSD 11
$758,409
$40,000
5.3%
West Prairie CUSD 103
$12,625,795
$648,281
5.1%
Odin PSD 722
$1,758,255
$78,000
4.4%
Nauvoo-Colusa CUSD 325
$7,587,480
$325,000
4.3%
Central CHSD 71
$20,137,900
$845,000
4.2%
Carlyle CUSD 1
$18,633,727
$753,000
4%
Mt Pulaski CUSD 23
$15,190,238
$543,520
3.6%
Greenfield CUSD 10
$7,426,940
$235,000
3.2%
V I T CUSD 2
$4,853,654
$150,000
3.1%
Williamsfield CUSD 210
$10,969,468
$310,000
2.8%
Winchester CUSD 1
$6,199,861
$165,000
2.7%
Hamilton CCSD 328
$9,188,933
$215,000
2.3%
Bradford CUSD 1
$8,013,271
$150,000
1.9%
Mount Olive CUSD 5
$4,653,845
$13,022
0.3%
Hartsburg Emden CUSD 21
$5,596,203
$0
0%
Brussels CUSD 42
$2,732,033
$0
0%
Liberty CUSD 2
$7,842,686
$0
0%
Central CUSD 3
$11,353,327
$0
0%
Franklin CUSD 1
$7,718,863
$0
0%
Greenview CUSD 200
$5,328,488
$0
0%
Spring Lake CCSD 606
$835,169
$0
0%
Southeastern CUSD 337
$8,005,845
$0
0%
Illini West H S Dist 307
$9,307,154
$0
0%
St Rose SD 14-15
$1,922,906
$0
0%
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