According to the Illinois State Board of Education financial profile report for fiscal year 2020, Mahomet-Seymour CUSD 3 moved up from being in the lowest category from FY 2019 to the second highest category, “Review” for FY 2020.
For the last 18 years, ISBE has reviewed each district’s financial profile based on fund balance to revenue ratio, expenditure to revenue ratio, days of cash on hand and percent of short-term and long-term borrowing ability remaining.
The State then gives each district a score and places them in the financial recognition (highest), review, early warning or watch (lowest) category.
Of the 851 school districts that reported, 101 were in the “review” category on the report.
All eight districts within the “Watch” designation last year improved and are no longer at the bottom.
A district note in the report states, “At the end of the fiscal year, Mahomet-Seymour CUSD #3 still had $519k that should have been received from the County Treasurer by June 30, 2020, that was due to them from 2019 Property Taxes. Mahomet-Seymour’s enrollment has to continued to increase at a steady rate; with funding based on previous year enrollment, the District will not always receive the funding when it is originally needed. It has been noted, based off of EBF Tier Calculations that Mahomet-Seymour is currently underfunded. Until funding is adequate, we will continue to see a lower days cash on hand and fund balance than desired by the state.”
On March 22, 2021, the Mahomet-Seymour School District reported 67 days of cash on hand.
Several Champaign County schools were placed in the top category, “Recognition”: Champaign CUSD 4, Gifford CCSD 188, Ludlow CCSD 142, Heritage CUSD 8, Prairieview-Ogden CCSD 197, Rantoul Township HSD 193, St Joseph Ogden CHSD 305 and Thomasboro CCSD 130.
Fisher CUSD 1 Rantoul City SD 137 and Tolono CUSD 7 were also placed in Review. Urbana SD 116 was also in the Early Warning category.
