Waterloo CUSD 5 holds $49.6 million in long-term debt

By South West Illinois News Reports

Jul 7, 2017

Waterloo Community Unit School District 5 has $49,616,142 in debt, according to Illinois State Board of Education 2016 financial reports obtained by the Metro East Sun.

Because state law allows the district to borrow a total of $56,663,399, Waterloo CUSD 5 has reached 87.6 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, Waterloo 5, an unit school district, had an EAV of $410,604,341, according to ISBE.

The following table ranks debt held by area school districts.

School district

Maximum debt allowed

Current debt

Percentage used

Belle Valley SD 119

$6,149,189

$40,479,579

658.3%

East St Louis SD 189

$13,442,148

$36,714,119

273.1%

Mascoutah CUD 19

$32,958,886

$78,437,097

238%

Cahokia CUSD 187

$9,765,885

$15,022,214

153.8%

Lebanon CUSD 9

$10,334,972

$12,113,648

117.2%

East Alton SD 13

$4,015,615

$4,335,507

108%

Triad CUSD 2

$61,534,776

$59,292,302

96.4%

O Fallon CCSD 90

$42,285,121

$37,705,624

89.2%

Waterloo CUSD 5

$56,663,399

$49,616,142

87.6%

Shiloh Village SD 85

$5,815,494

$4,630,000

79.6%

Harmony Emge SD 175

$8,677,889

$6,855,440

79%

Dupo CUSD 196

$8,386,268

$6,200,000

73.9%

Central SD 104

$10,637,919

$7,830,000

73.6%

O Fallon Twp HSD 203

$60,760,965

$44,670,000

73.5%

Signal Hill SD 181

$2,569,714

$1,848,700

71.9%

Edwardsville CUSD 7

$173,840,430

$120,090,886

69.1%

Alton CUSD 11

$93,807,615

$64,092,913

68.3%

Brooklyn UD 188

$615,098

$418,632

68.1%

Bethalto CUSD 8

$27,193,492

$17,158,674

63.1%

Belleville Twp HSD 201

$105,271,868

$62,055,922

58.9%

Millstadt CCSD 160

$12,579,057

$6,937,000

55.1%

Grant CCSD 110

$7,200,073

$3,941,000

54.7%

Highland CUSD 5

$50,283,396

$25,143,000

50%

Columbia CUSD 4

$41,721,696

$20,785,000

49.8%

High Mount SD 116

$3,077,009

$1,438,924

46.8%

Madison CUSD 12

$3,447,109

$1,496,799

43.4%

Wolf Branch SD 113

$12,266,764

$5,215,000

42.5%

Jersey CUSD 100

$42,016,590

$16,480,924

39.2%

Freeburg CHSD 77

$17,860,903

$6,635,000

37.1%

Roxana CUSD 1

$64,966,962

$23,298,453

35.9%

Granite City CUSD 9

$67,012,797

$22,248,829

33.2%

Belleville SD 118

$22,617,596

$7,345,882

32.5%

East Alton-Wood River CHSD 14

$11,378,357

$3,167,727

27.8%

New Athens CUSD 60

$8,608,794

$2,350,000

27.3%

Freeburg CCSD 70

$10,582,282

$2,145,000

20.3%

Pontiac-W Holliday SD 105

$16,515,910

$2,910,801

17.6%

Whiteside SD 115

$15,721,752

$2,459,000

15.6%

Collinsville CUSD 10

$95,602,508

$13,340,318

14%

Marissa CUSD 40

$4,883,172

$557,957

11.4%

Smithton CCSD 130

$6,307,746

$705,000

11.2%

Valmeyer CUSD 3

$7,562,078

$749,413

9.9%

Venice CUSD 3

$1,642,476

Chester N HSD 122

$763,028

St Libory Cons SD 30

$855,991

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Waterloo Community Unit School District 5 Board

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