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Tuesday, February 18, 2020

Berwyn North SD 98 holds no long-term debt

Schools

By West Cook News | Aug 1, 2017

Elm 05

Berwyn North School District 98 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 West Cook News. The reports are as of 2016.

State law allows Berwyn North SD 98 to borrow a total of $14,483,334.

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, Berwyn North 98, an elementary school district, had an EAV of $209,903,385, according to ISBE.

The following table ranks debt held by area school districts.

School district
Maximum debt allowed
Current debt
Percentage used
Bellwood SD 88
$20,953,022
$28,149,443
134.3%
Schiller Park SD 81
$20,207,924
$26,529,601
131.3%
Berwyn South SD 100
$25,588,352
$32,929,463
128.7%
Mannheim SD 83
$42,577,169
$39,885,000
93.7%
Cicero SD 99
$37,879,581
$34,070,000
89.9%
Riverside-Brookfield Twp SD 208
$49,498,045
$44,195,000
89.3%
Maywood-Melrose Park-Broadview 89
$29,450,489
$25,458,725
86.4%
La Grange SD 102
$51,290,393
$38,104,537
74.3%
La Grange SD 105 South
$36,806,673
$26,352,260
71.6%
Western Springs SD 101
$32,299,623
$22,025,899
68.2%
J S Morton HSD 201
$96,175,784
$62,905,808
65.4%
River Grove SD 85-5
$8,362,241
$4,943,295
59.1%
Brookfield Lagrange Park SD 95
$14,003,898
$8,050,735
57.5%
Komarek SD 94
$8,456,636
$4,540,011
53.7%
Elmwood Park CUSD 401
$54,162,663
$28,220,100
52.1%
Berkeley SD 87
$26,571,279
$13,747,998
51.7%
Lindop SD 92
$5,451,286
$2,546,975
46.7%
Franklin Park SD 84
$19,146,212
$8,887,556
46.4%
Proviso Twp HSD 209
$141,069,002
$63,405,205
44.9%
Lyons SD 103
$23,905,051
$10,502,451
43.9%
Rhodes SD 84-5
$12,720,749
$3,820,000
30%
River Forest SD 90
$32,454,039
$9,373,114
28.9%
Riverside SD 96
$30,594,396
$6,320,000
20.7%
Pleasantdale SD 107
$33,950,208
$6,667,419
19.6%
Darien SD 61
$29,947,804
$5,589,260
18.7%
Oak Park ESD 97
$92,076,464
$17,100,000
18.6%
Gower SD 62
$45,697,194
$7,633,711
16.7%
Hillside SD 93
$17,768,242
$2,340,400
13.2%
LaGrange Highlands SD 106
$22,598,339
$2,345,000
10.4%
Lyons Twp HSD 204
$183,979,390
$17,320,000
9.4%
Leyden CHSD 212
$131,422,779
$9,465,000
7.2%
Hinsdale Twp HSD 86
$343,951,679
$22,220,000
6.5%
Oak Park - River Forest SD 200
$124,530,504
$3,364,363
2.7%
Berwyn North SD 98
$14,483,334
$0
0%
Forest Park SD 91
$20,168,210
$0
0%
Central Stickney SD 110
$11,804,224
$0
0%

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Berwyn North School District 98

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