Post #3 – Financial
Eagle Vision – Part II
JCCU1 School District Financial Health
Over the past 3 to 5 years, the financial health of our school district has progressively improved. Each year, school districts are audited by an independent accounting firm to determine the financial health of the school district. In 2015, JCCU1’s rated Financial Profile Score from this audit was 2.65 with a profile designation of “WARNING”, just slightly above the most serious designation of “WATCH”. When designated with a Warning profile, the school district is subject to close scrutiny from the Illinois School Board of Education (ISBE).
Since that time, the school district’s financial profile has improved to 3.90 (max=4.0) with a designation of “RECOGNITION”, the highest assessment profile a school district can achieve!! Thank you to our school district’s leadership!!
As a result of the focus on financial health, the school district will have a surplus of $6 million across all the various operating expense funds. This available cash could be needed should the state of Illinois choose to reduce funding to schools across the state. Maintaining this score and the financial health of the district is a high priority for the board and administration.
With that in mind, the board has cautiously recommended that a portion of those excess funds be used to address an urgent high $$ maintenance concern at Newton Elementary. Please reference the earlier FB post #2.
County Facility School Tax (CFST)
During the November, 2018 election, the Jasper County School District voters approved a 1% sales tax to be used to improve the quality of JCCU1 school facilities. During the first 12 months, (July ’19 thru June ’20) this tax has generated $496,000 in revenue for our school district. Thank you, taxpayers, for approving this referendum!! This year’s tax revenue to date has actually been 10% higher than the prior year. As a reminder, please buy local to support our local businesses and schools!! These funds have been used primarily to cover architect and construction management expenses associated with the planned Facilities Renovation and Expansion Project, but also to purchase properties for school district use. The plan is to commit a portion of future CSFT funds to cover payments on whatever bonds are acquired to complete the facilities project.
