Kane County Reporter

School districts across Kane County held a combined $840 million in long-term outstanding debt as of fiscal year 2024, amounting to 25.5% 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 107,376 students, the countywide debt translates to approximately $7,823 per student as of fiscal year 2024.

The county includes nine school districts, of which Community Unit School District 300 held the most debt, totaling $222.4 million.

Community Unit School District 300 ranked fifth statewide among all 851 Illinois districts reporting outstanding debt.

Among the school districts in Kane County, Aurora East Unit School District 131 used the highest percentage of its EAV-based debt limit at 11.3%, holding $124.6 million in outstanding debt with 12,080 students enrolled—approximately $10,318 per student. Kaneland Community Unit School District 302 ranked second, using 5% of its borrowing capacity with $54.3 million in long-term debt and an enrollment of 3,881— $13,995 per student.

Countywide, students identifying as Hispanic comprised the largest ethnic group in Kane County schools, accounting for 46.9% of the total enrollment. The second-largest ethnic group was white, comprising 38.5% 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.

County Rank	State Rank	School District	Outstanding Debt	Percentage of Debt Limit Used	Percentage of EAV Used	Enrollment
1	5	Community Unit School District 300	$222,362,048	32.2%	4.4%	20,161
2	7	School District U-46	$204,735,000	22.4%	3.1%	33,948
3	20	Aurora East Unit School District 131	$124,639,488	81.9%	11.3%	12,080
4	40	Geneva Community Unit School District 304	$85,790,000	35.6%	4.9%	4,996
5	41	Aurora West Unit School District 129	$81,462,697.06	28.6%	3.9%	10,734
6	62	Kaneland Community Unit School District 302	$54,314,060	36.1%	5%	3,881
7	115	Central Community Unit School District 301	$32,231,819	23%	3.2%	4,872
8	163	St. Charles Community Unit School District 303	$21,693,117	4.3%	0.6%	11,572
9	251	Batavia Unit School District 101	$12,814,946	5.9%	0.8%	5,132