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State places Crete-Monee CUSD 201-U on 'Financial Review' list
State places Crete-Monee CUSD 201-U on 'Financial Review' list

CM201-U Financial Profile Score Graph

Crete-Monee School District joins eight other school districts that have been placed on the “Financial Review” list by the Illinois State Board of Education (ISBE).

ISBE rates school districts on their fund balance and expenditure-to-revenue ratios, days of cash on hand, and percentage of remaining short- and long-term borrowing ability. Crete-Monee School District has been under Financial Review status since FY14.

The district anticipates that there will be an additional drop in FY17 due to salary increases, retroactive salary payments and completion of the Crete-Monee Middle School construction project.

The rating is expected to be downgraded again in FY18, as the district’s expense growth with the new collective bargaining agreements will outpace the revenue growth associated with the .7% inflationary increase added to our 2016 levy.

You may view the article at: http://willcountygazette.com/stories/511016605-state-places-crete-monee-cusd-201u-on-financial-review-list

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Crete-Monee School District 201-U 1500 Sangamon Street, Crete, IL 60417 Phone: 708-367-8300 Fax: 708-672-2698