Welcome to Lincoln-Way Community High School District 210

Lincoln-Way District 210 announces $8 million operating surplus
Friday, August 3, 2018

In Fiscal Year 2018, Lincoln-Way District 210 realized an $8.06 million operating surplus. Contributing factors include:

• $2.73 million in budgeted (planned) surplus
• $4.58 million in additional revenue
• $750,000 expended less than the budgeted amount (including transfers)

“After a decade of deficit spending in the millions, the district has realized operating surpluses the last two years of more than $5 million and $8 million respectively,” says Superintendent Dr. Scott Tingley. “This is primarily the result of operating three high schools. As a result, the district has been able to invest in technology, address capital needs that had previously been deferred and reduce the need for short-term borrowing.”

The $4.58 million in additional revenue is attributed to:

• $2.74 million of additional state aid; the state of Illinois provided overdue payments to the district. These payments, in combination with the new funding formula, were beneficial to Lincoln-Way.
• $928,000 more in local tax revenue than expected; due to the change in federal income tax law, many paid their property taxes early.
• $819,000 in other revenue, including student fees and federal aid.
• $93,000 more in investment income, resulting from higher investment rates and higher cash balances.

“Continuing down this path to financial recovery will allow Lincoln-Way to continue providing excellent opportunities for our students in technology, experiential learning and extracurricular activities,” says Tingley.

The surplus decreases the district’s dependency on Tax Anticipation Warrants (TAWs). In May of Fiscal Year 2016, TAWs reached a high of approximately $30 million. By May of 2019, Lincoln-Way officials expect to see that number nearly cut in half.

“In three years, we will have decreased our borrowing by approximately $13 million,” says Tingley. “This will improve our credit rating while helping us achieve the goal of a 33% fund balance of expenditures. The day-to-day finances have been stabilized. We must continue to be diligent as we replenish our fund balances.”