Financial Picture Brightens For Lincoln-Way District 210

NEW LENOX, IL — Lincoln-Way District 210 is inching its way toward financial health after years of fiscal mismanagement that saddled it with debt and forced the closure of one high school, a new report from the state’s board of education showed.

The district’s financial profile rating has improved to “financial early warning” from “financial watch.” The improved rating, issued by the Illinois Board of Education, indicates that the district has shored up it practices to balance the $106 million budget, reduce its debt and replenish its operating funds.

But the district is not out of its troubled financial waters yet. “Early warning” is still a risky rating and could trigger continued financial oversight by the state. But because Lincoln-Way’s finances have improved, and projections show they will continue to improve, the state may decide later this spring that monitoring no longer is necessary, said Brad Cauffman, assistant superintendent of business.

“We’re on the right track,” he said. “The train indeed is moving in the right direction.”

Projections show that the district should be in “review” status later in 2019. According to the state, that means the district will be in good financial shape. Estimates also show officials are meeting targets set through 2025

Lincoln-Way ran in a deficit of millions of dollars from 2010 to 2016. Officials took strong measures to fix its budget, including closing Lincoln-Way North, negotiating a pay rollback for teachers and amending it contract bidding process.

Its 2019 budget totals $106 million. That includes a levy of $67.3 million, or four percent more than the year before. Homeowners will see an average increase of 2.1 percent on their property taxes, district projections showed.

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