Grundy Reporter

School districts across Grundy County held a combined $148.7 million in long-term outstanding debt as of fiscal year 2024, amounting to 31.3% 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 13,028 students, the countywide debt translates to approximately $11,411 per student as of fiscal year 2024.

The county includes 12 school districts, of which Minooka Community Consolidated School District 201 held the most debt, totaling $43.8 million.

Minooka Community Consolidated School District 201 ranked 83rd statewide among all 851 Illinois districts reporting outstanding debt.

Among the school districts in Grundy County, Morris School District 54 used the highest percentage of its EAV-based debt limit at 5.1%, holding $14.6 million in outstanding debt with 1,051 students enrolled—approximately $13,930 per student. Saratoga Community Consolidated School District 60C ranked second, using 4.2% of its borrowing capacity with $15.4 million in long-term debt and an enrollment of 806— $19,100 per student.

Countywide, students identifying as white comprised the largest ethnic group in Grundy County schools, accounting for 70.7% of the total enrollment. The second-largest ethnic group was Hispanic, comprising 20.1% 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	83	Minooka Community Consolidated School District 201	$43,839,480	47.3%	3.3%	4,418
2	102	Coal City Community Unit School District 1	$35,768,646	27.8%	3.8%	2,126
3	132	Minooka Community High School District 111	$29,420,000	21.2%	1.5%	2,882
4	217	Saratoga Community Consolidated School District 60C	$15,395,000	60.6%	4.2%	806
5	227	Morris School District 54	$14,640,000	73.5%	5.1%	1,051
6	444	Morris Community High School District 101	$4,775,000	10.3%	0.7%	863
7	503	Mazon-Verona-Kinsman Elementary School District 2C	$3,488,139	39.4%	2.7%	310
8	681	Gardner-South Wilmington Township High School District 73	$555,000	10%	0.7%	153
9	707	Nettle Creek Community Consolidated School District 24C	$300,000	7.2%	0.5%	76
10	714	Braceville School District 75	$270,000	15.6%	1.1%	116
11	742	South Wilmington Community Consolidated School District 74	$135,000	7.6%	0.5%	79
12	754	Gardner Community Consolidated School District 72C	$80,000	3.9%	0.3%	148