Illinois Valley Times

School districts across Bureau County held a combined $68.6 million in long-term outstanding debt as of fiscal year 2024, amounting to 67.4% of the area’s total allowable borrowing capacity, according to the Illinois State Board of Education.

Under Illinois law, districts may only borrow up to a certain limit based on their Equalized Assessed Value (EAV)—a standardized measure of taxable property used to determine legal debt caps.

Based on the school district's enrollment of 3,007 students, the countywide debt translates to approximately $22,815 per student as of fiscal year 2024.

The county includes 10 school districts, of which Hall High School District 502 held the most debt, totaling $45.1 million.

Hall High School District 502 ranked 78th statewide among all 851 Illinois districts reporting outstanding debt.

Among the school districts in Bureau County, Hall High School District 502 used the highest percentage of its EAV-based debt limit at 26.9%, holding $45.1 million in outstanding debt with 407 students enrolled—approximately $110,871 per student. Spring Valley Community Consolidated School District 99 ranked second, using 7.1% of its borrowing capacity with $6.5 million in long-term debt and an enrollment of 619— $10,519 per student.

Countywide, students identifying as white comprised the largest ethnic group in Bureau County schools, accounting for 111% of the total enrollment. The second-largest ethnic group was Hispanic, comprising 29% of the student body.

The data was obtained by Wirepoints through a Freedom of Information Act request to the Illinois State Board of Education.

Illinois has enacted a law that changes the amount of debt school districts can issue. According to an analysis by Chapman, the new rules permit school districts to borrow more money than previously allowed. At the same time, the law modifies limits on property tax extensions that fund this debt. As a result, if districts take on more debt, local property taxes could increase to cover the additional costs.

The Illinois State Board of Education’s budget for fiscal year 2026 will increase from nearly $10.8 billion to about $11.2 billion. This includes a $307 million boost for K–12 schools, marking the smallest annual increase since 2020.

The agency has paused about $50 million in funding previously allocated through the Evidence-Based Funding formula for the Property Tax Relief Grant while reviewing its impact on local tax relief. Officials say the pause could affect the timing and amount of property tax relief available to taxpayers.

The annual reporting aims to increase transparency and accountability around school debt. Future reports will include 15 years of historical data, allowing residents to track long-term financial trends.

County Rank	State Rank	School District	Outstanding Debt	Percentage of Debt Limit Used	Percentage of EAV Used	Enrollment
1	78	Hall High School District 502	$45,124,588	389.4%	26.9%	407
2	329	Bureau Valley Community Unit School District 340	$8,754,000	24.6%	3.4%	905
3	382	Spring Valley Community Consolidated School District 99	$6,511,121	103.2%	7.1%	619
4	471	Princeton High School District 500	$4,127,266	17.1%	1.2%	479
5	638	La Moille Community Unit School District 303	$1,072,462	12.2%	1.7%	171
6	644	Ladd Community Consolidated School District 94	$970,000	27.4%	1.9%	191
7	656	Ohio Community Consolidated School District 17	$789,349	17.5%	1.2%	73
8	657	Ohio Community High School District 505	$786,072	17%	1.2%	26
9	692	Dalzell School District 98	$435,000	59.4%	4.1%	45
10	762	Malden Community Consolidated School District 84	$34,768	1.8%	0.1%	91