Quent Hamilton, Superintendent at Zeigler-Royalton Community Unit School District 188 | https://www.facebook.com/
Quent Hamilton, Superintendent at Zeigler-Royalton Community Unit School District 188 | https://www.facebook.com/
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 5,392 students, the countywide debt translates to approximately $4,293 per student as of fiscal year 2024.
The county includes eight school districts, of which Frankfort Community Unit School District 168 held the most debt, totaling $4.8 million.
Frankfort Community Unit School District 168 ranked 440th statewide among all 851 Illinois districts reporting outstanding debt.
Among the school districts in Franklin County, Christopher Community Unit School District 99 used the highest percentage of its EAV-based debt limit at 9.3%, holding $4.3 million in outstanding debt with 696 students enrolled—approximately $6,138 per student. Thompsonville Community Unit School District 174 ranked second, using 9.1% of its borrowing capacity with $2.8 million in long-term debt and an enrollment of 298— $9,526 per student.
Most of the students in the county were white, accounting for 95.4% of the student population.
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.
Outstanding School Debt by School District in Franklin County, FY 2024
| County Rank | State Rank | School District | Outstanding Debt | Percentage of Debt Limit Used | Percentage of EAV Used | Enrollment |
|---|---|---|---|---|---|---|
| 1 | 440 | Frankfort Community Unit School District 168 | $4,835,000 | 28.7% | 4% | 1,503 |
| 2 | 464 | Christopher Community Unit School District 99 | $4,271,990 | 67% | 9.3% | 696 |
| 3 | 487 | Benton Community Consolidated School District 47 | $3,770,000 | 42.5% | 2.9% | 1,022 |
| 4 | 517 | Zeigler-Royalton Community Unit School District 188 | $3,247,290 | 62.9% | 8.7% | 479 |
| 5 | 536 | Thompsonville Community Unit School District 174 | $2,838,834 | 66% | 9.1% | 298 |
| 6 | 575 | Benton Consolidated High School District 103 | $1,965,110 | 11.9% | 0.8% | 588 |
| 7 | 625 | Sesser-Valier Community Unit School District 196 | $1,305,000 | 20.3% | 2.8% | 573 |
| 8 | 648 | Ewing Northern Community Consolidated School District 115 | $912,087 | 33.1% | 2.3% | 233 |
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