Budgets, Levies, & Debt

Summary of 2010-2011 CAFR Report

Attached is a one-page summary of the 2010-2011 Geneva School District Comprehensive Annual Financial Report (CAFR). This was taken from the Annual Financial Report that the School District filed with the state.  This summary was done by GenevaTaxFACTS from information in the filed CAFR report.

The state measures four areas to determine the financial strength of the district. Geneva's financial rating was 4.0 (highest ranking) in the following three areas;

  • spent 98.2% of it's revenue
  • has more in reserves (61%)  than the state recommendation of $27 million. (Note, this is not a law, just a suggestion)
  • has more working cash on hand than the average district ($14.5 million) 

The District's financial rating was 1.0 (lowest ranking) due to the fact we are at 82% of our debt limit.

The average of the ratings was 3.0 which means we spend our revenue, have too much in reserve, have excess working cash, and have a very high level of debt?

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Parent Category: ROOT