Dupage Policy Journal

Dupage Policy Journal

Sunday, December 15, 2019

Queen Bee SD 16 holds $19 million in long-term debt

Schools

By Local Labs News Service | Jun 29, 2017

Elm 10

Queen Bee School District 16 has $18,983,488 in debt, which is $4,424 per household in the district, according to Illinois State Board of Education 2016 financial reports obtained by the DuPage Policy Journal.

Because state law allows the district to borrow a total of $20,491,188, Queen Bee SD 16 has reached 92.6 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, Queen Bee 16, an elementary school district, had an EAV of $296,973,745, according to ISBE.

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

School district
Maximum debt allowed
Current debt
Percentage used
Queen Bee SD 16
$20,491,188
$18,983,488
92.6%
Bensenville SD 2
$40,055,740
$35,970,000
89.8%
West Chicago ESD 33
$43,777,566
$34,465,000
78.7%
Keeneyville SD 20
$23,815,968
$11,990,237
50.3%
CUSD 200
$379,198,701
$163,830,407
43.2%
Maercker SD 60
$37,462,519
$16,008,466
42.7%
Marquardt SD 15
$33,390,327
$13,273,694
39.8%
Roselle SD 12
$16,194,990
$6,225,000
38.4%
Winfield SD 34
$8,574,443
$3,223,164
37.6%
Indian Prairie CUSD 204
$655,716,748
$239,319,987
36.5%
CCSD 89
$50,630,018
$18,112,996
35.8%
Itasca SD 10
$31,862,058
$11,090,947
34.8%
Grant Park CUSD 6
$9,685,246
$3,293,911
34%
Medinah SD 11
$19,245,359
$5,980,000
31.1%
Cass SD 63
$21,120,552
$6,017,801
28.5%
Lake Park CHSD 108
$125,280,416
$34,979,441
27.9%
Glenbard Twp HSD 87
$333,479,613
$77,523,582
23.2%
CUSD 201
$62,017,137
$13,730,000
22.1%
CCSD 93
$73,454,060
$16,124,518
22%
Addison SD 4
$69,476,480
$13,545,000
19.5%
Darien SD 61
$29,947,804
$5,589,260
18.7%
Gower SD 62
$45,697,194
$7,633,711
16.7%
Fenton CHSD 100
$73,233,286
$11,725,000
16%
CHSD 99
$272,015,532
$42,854,600
15.8%
Glen Ellyn SD 41
$84,780,665
$12,034,622
14.2%
Wood Dale SD 7
$33,177,546
$3,769,730
11.4%
Lombard SD 44
$70,733,355
$7,647,500
10.8%
Bloomingdale SD 13
$34,162,041
$3,249,516
9.5%
CHSD 94
$66,752,496
$5,225,000
7.8%
Lisle CUSD 202
$75,971,306
$5,647,933
7.4%
Downers Grove GSD 58
$166,936,456
$11,943,985
7.2%
Salt Creek SD 48
$40,274,178
$2,621,260
6.5%
Hinsdale Twp HSD 86
$343,951,679
$22,220,000
6.5%
Naperville CUSD 203
$597,228,605
$33,325,218
5.6%
Butler SD 53
$54,606,407
$840,000
1.5%
Woodridge SD 68
$50,991,354
$0
0%

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Organizations in this Story

DuPage Policy JournalDuPage CountyQueen Bee School District 16Addison School District 4

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