Ridgewood finance superintendent reports on debt, finances
Ridgewood High School District 234 officials said Tuesday the district’s finances are in good shape with a balanced budget of $16.1 million during fiscal year which ended June 30, 2018.
The ending fund balance was $16.6 million.
Thomas Parrillo, assistant superintendent of finance and operations for the district, said the budget works under the assumption the district receives two state-mandated categorical payments.
The annual financial report shows that District 234 has $41.9 million in long-term debt, and of that amount, there is a principal value of $28.5 million in outstanding debt. Parrillo said the district has a plan in place to eliminate its debt by 2027.
Officials are waiting for the Illinois State Board of Education to approve the district’s fiscal year 2018 audit, which has yet to be presented to the school board.
The district’s finance-audit subcommittee is expected to meet on Feb. 4, at which point the fiscal year 2018 audit will be reviewed.
Ridgewood High School was recognized by Apple as an Apple Distinguished School, principal Chris Uhle reported. He said the creation of an iBook satisfied criteria set forth by Apple in the areas of innovation, leadership and creativity. It is the second year the district have earned the accolade.
“We are now an Apple Distinguished School until the year 2021,” Uhle said.