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Kankakee Times

Saturday, September 6, 2025

Kankakee County school districts ranked by share of debt capacity used in fiscal year 2024

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Dr. Jay P. Smith Superintendent of Schools | St. George Community Consolidated School District 258

Dr. Jay P. Smith Superintendent of Schools | St. George Community Consolidated School District 258

School districts across Kankakee County held a combined $74.8 million in long-term outstanding debt as of fiscal year 2024, amounting to 27.2% 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 10,872 students, the countywide debt translates to approximately $6,881 per student as of fiscal year 2024.

The county includes 10 school districts, of which Manteno Community Unit School District 5 held the most debt, totaling $18.1 million.

Manteno Community Unit School District 5 ranked 190th statewide among all 851 Illinois districts reporting outstanding debt.

Among the school districts in Kankakee County, St. George Community Consolidated School District 258 used the highest percentage of its EAV-based debt limit at 7.4%, holding $8.5 million in outstanding debt with 378 students enrolled—approximately $22,477 per student. Manteno Community Unit School District 5 ranked second, using 4.9% of its borrowing capacity with $18.1 million in long-term debt and an enrollment of 1,775— $10,209 per student.

Countywide, students identifying as white comprised the largest ethnic group in Kankakee County schools, accounting for 76.2% of the total enrollment. The second-largest ethnic group was Hispanic, comprising 31.1% 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.

Average School Debt per School District in Kankakee County, FY 2023 vs. 2024

02.0M4.0M6.0M8.0M10.0M12.0M14.0M16.0M18.0M20.0MPembroke Consolidated Community SD 259St. Anne Community Consolidated SD 256Bradley SD 61St. Anne Community High SD 302Momence Community Unit SD 1St. George Community Consolidated SD 258Bourbonnais SD 53Herscher Community Unit SD 2Bradley-Bourbonnais Consolidated High SD 307Manteno Community Unit SD 5Debt FY 2023 ($)Debt FY 2024 ($)

Outstanding School Debt by School District in Kankakee County, FY 2024

County RankState RankSchool DistrictOutstanding DebtPercentage of Debt Limit UsedPercentage of EAV UsedEnrollment
1190Manteno Community Unit School District 5$18,121,48235.5%4.9%1,775
2252Bradley-Bourbonnais Consolidated High School District 307$12,785,00019.1%1.3%1,840
3257Herscher Community Unit School District 2$12,594,15523.1%3.2%1,638
4314Bourbonnais School District 53$9,627,79025%1.7%2,331
5331St. George Community Consolidated School District 258$8,496,370107.5%7.4%378
6354Momence Community Unit School District 1$7,575,30733.3%4.6%994
7529St. Anne Community High School District 302$2,973,30045.6%3.1%194
8623Bradley School District 61$1,325,4916.4%0.4%1,285
9653St. Anne Community Consolidated School District 256$853,30017.2%1.2%248
10687Pembroke Consolidated Community School District 259$460,00029.6%2%189

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