BV’s financial status drops
MANLIUS — The Bureau Valley School Board heard from Auditor David Wilcoxson at its November meeting, and the news wasn’t pretty.
Wilcoxson said the district’s Financial Profile, as computed by the Illinois State Board of Education, had fallen from the second highest category of Financial Review to the lowest category, Financial Watch. The designation is created by using five indicators of financial performance, which include fund balance to revenue ratio, expenditures to revenues ratio, days cash on hand, percent of short-term borrowing available, and percent of long-term debt remaining.
For 2012, BV’s Financial Profile score was 3.35, out of a possible 4.0 points.
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