Lincoln-Way 210 Improves Financial Profile Status

NEW LENOX, IL — Lincoln-Way Community High School District 210 has improved its financial profile status with the Illinois School Board of Education from “Financial Watch” to “Financial Early Warning.” The district said this status improvement is attributed to the district’s consecutive years of budget surplus.

The district said it experienced an operating surplus of $5.04 million in fiscal year 2017, $8.01 million in fiscal year 2018, and has budgeted an operating surplus of $3.3 million for this fiscal year ending June 30. Overall, the district will have replenished its fund balances by $16.35
million, or 40 percent, over a three-year period.

“Stabilizing the district’s financial position and increasing its operating fund balance has been a major focus of the Board of Education and District administration,” Superintendent Dr. Tingley said in a release. “This status improvement is a direct result of the vision and direction of the Board of Education and the district financial team.”

With assistance from PMA, the district’s Municipal Advisor, the district said the Board of Education has also established long-term debt objectives, which were approved at the Feb. 21 meeting.

The district will seek and anticipate an improved bond rating from Moody’s in the fall. If the bond rating improves, the district said the board will work with PMA to review and consider long-term debt restructuring options.