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ISBE lauds D214 for financial condition

In recognition of the school district’s strong financial position, the Illinois State Board of Education has awarded Township High School District 214 a Certificate of Financial Recognition.

This is the highest category obtainable for ISBE’s School District Financial Profile and District 214 has been awarded a Certificate of Financial Recognition every year since its inception.

District 214 received this recognition based on its 2010 school year financial data.

“Given the economic difficulties school districts are facing, the State Board realizes this is a significant accomplishment,” said State Superintendent Christopher Koch.

ISBE developed the Financial Profile in 2003 to help monitor school districts’ finances and identify those that are in or moving toward financial difficulty. The five indicators used to determine financial performance are: fund balance to revenue ratio; expenditures to revenues ratio; days cash on hand; percent of short-term borrowing available; and percent of long-term debt remaining.

“District 214 has been able to achieve this prestigious recognition due to long-range strategic financial planning,” said Deb Parenti, associate superintendent of finance and operations. “The students, staff, and community are the beneficiaries of District 214’s high-quality educational programs and excellent academic achievement.”