Some districts could operate for years on money they’ve stashed away
By Peter Hancock
Capitol News Illinois
phancock @ capitolnewsillinois.com

The overall financial health of Illinois school districts has been improving in recent years, according to a recent state report, but a bill moving through the General Assembly seeks to rein in the amount of money some districts are saving.
Senate Bill 1994, which passed unanimously out of the Senate last week and now awaits action in the House, would put a cap on how much money school districts could hold in reserves. Districts that exceed it would be required to file a report with the state.
“They’re kind of like a nonprofit where, you know, money comes in and resources come in, and then it needs to be spent,” the bill’s sponsor Sen. Meg Loughran Cappel, D-Shorewood, said during an interview. “Like, yes, you need to have savings. Yes, those are good practices. But you can’t just be sitting on all this cash and then not doing anything with it.”     Login or Subscribe to read the rest of this story.