D218 earns state's highest finance rating for 14th straight year

The Illinois State Board of Education has awarded District 218 the highest possible fiscal rating for the 14th consecutive year.

District 218 in 2016 again earned "financial recognition." The state board of education categorizes school districts annually with the following ratings: Financial Watch, Financial Early Warning, Financial Review, and Financial Recognition.

“The district received an unqualified opinion for its audited financial statements. The district also received unqualified opinions related to compliance and internal controls over financial reporting and each major program,” said Business Manager Ilsa Richardella.

The term 'unqualified' means that the audit report stands as presented by the auditing firm without any negative exceptions or connotations.

The auditing firm RSM LLC conducted the audit of District 218.

School districts earn their ratings based on five criteria, including 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.