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South Cook News

Sunday, December 22, 2024

Thornton Twp HSD 205 holds $33.5 million in long-term debt

Elm 10

Thornton Township High School District 205 has $33,545,000 in debt, according to Illinois State Board of Education 2016 financial reports obtained by the South Cook News.

Because state law allows the district to borrow a total of $80,740,081, Thornton Twp HSD 205 has reached 41.5 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, Thornton Township 205, a high school school district, had an EAV of $1,170,146,105, according to ISBE.

The following table ranks debt held by area school districts.

School district
Maximum debt allowed
Current debt
Percentage used
Ford Heights SD 169
$2,140,216
$20,025,507
935.7%
Park Forest SD 163
$5,420,935
$16,077,278
296.6%
Dolton SD 148
$10,534,053
$29,203,881
277.2%
Hoover-Schrum Memorial SD 157
$7,759,992
$17,938,417
231.2%
Summit SD 104
$14,230,377
$29,041,736
204.1%
Arbor Park SD 145
$11,917,457
$23,972,832
201.2%
Ridgeland SD 122
$31,609,359
$53,354,031
168.8%
Brookwood SD 167
$9,519,481
$14,935,000
156.9%
Matteson ESD 162
$23,750,556
$35,422,258
149.1%
Dolton SD 149
$15,946,947
$20,840,543
130.7%
W Harvey-Dixmoor PSD 147
$5,498,957
$6,780,000
123.3%
Hazel Crest SD 152-5
$6,817,659
$7,563,242
110.9%
Country Club Hills SD 160
$8,854,495
$9,496,622
107.3%
Lincoln ESD 156
$2,913,487
$2,914,283
100%
Willow Springs SD 108
$4,202,955
$4,155,000
98.9%
Gen George Patton SD 133
$1,740,228
$1,505,000
86.5%
Atwood Heights SD 125
$7,027,937
$5,526,439
78.6%
Homewood SD 153
$18,364,581
$13,258,337
72.2%
Homewood Flossmoor CHSD 233
$42,504,739
$30,480,000
71.7%
Argo CHSD 217
$41,576,764
$29,505,000
71%
Lemont Twp HSD 210
$68,125,495
$46,470,384
68.2%
Sandridge SD 172
$2,962,529
$1,900,000
64.1%
Calumet Public SD 132
$6,305,906
$3,915,795
62.1%
Rich Twp HSD 227
$61,257,735
$36,795,000
60.1%
Thornton Fractional Twp HSD 215
$42,273,827
$23,835,305
56.4%
Sunnybrook SD 171
$8,306,430
$4,537,313
54.6%
Forest Ridge SD 142
$15,586,255
$8,105,193
52%
Thornton SD 154
$3,136,383
$1,560,000
49.7%
CCSD 146
$38,344,795
$18,765,000
48.9%
Worth SD 127
$10,008,893
$4,895,883
48.9%
Reavis Twp HSD 220
$55,404,160
$24,955,000
45%
Burnham SD 154-5
$1,106,911
$493,010
44.5%
Indian Springs SD 109
$24,653,431
$10,910,000
44.3%
Thornton Twp HSD 205
$80,740,081
$33,545,000
41.5%
Evergreen Park ESD 124
$24,048,032
$9,825,000
40.9%
CHSD 218
$135,876,950
$48,374,544
35.6%
Flossmoor SD 161
$24,725,186
$7,800,000
31.5%
Bremen CHSD 228
$78,804,450
$21,925,000
27.8%
Pleasantdale SD 107
$33,950,208
$6,667,419
19.6%
Lemont-Bromberek CSD 113A
$67,366,029
$11,278,017
16.7%
Midlothian SD 143
$11,829,513
$1,830,000
15.5%
Bloom Twp HSD 206
$47,736,399
$6,541,696
13.7%
Cons HSD 230
$287,165,729
$28,305,000
9.9%
Orland SD 135
$128,036,904
$9,284,437
7.3%
Oak Lawn CHSD 229
$51,231,918
$2,810,000
5.5%
Evergreen Park CHSD 231
$24,048,032
$867,242
3.6%
Palos CCSD 118
$48,415,541
$1,745,000
3.6%

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