Metro East Sun

School districts across Madison County held a combined $407 million in long-term outstanding debt as of fiscal year 2024, amounting to 41.3% 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 37,406 students, the countywide debt translates to approximately $10,880 per student as of fiscal year 2024.

The county includes 12 school districts, of which Edwardsville Community Unit School District 7 held the most debt, totaling $187.1 million.

Edwardsville Community Unit School District 7 ranked 10th statewide among all 851 Illinois districts reporting outstanding debt.

Among the school districts in Madison County, Madison Community Unit School District 12 used the highest percentage of its EAV-based debt limit at 13.6%, holding $3.7 million in outstanding debt with 588 students enrolled—approximately $6,293 per student. Bethalto Consolidated Unit School District 8 ranked second, using 10.6% of its borrowing capacity with $30.7 million in long-term debt and an enrollment of 2,347— $13,086 per student.

Countywide, students identifying as white comprised the largest ethnic group in Madison County schools, accounting for 68.6% of the total enrollment. The second-largest ethnic group was Black, comprising 14% 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	10	Edwardsville Community Unit School District 7	$187,131,572	68.2%	9.4%	7,187
2	64	Highland Community Unit School District 5	$51,667,484	70.5%	9.7%	2,761
3	74	Alton Community Unit School District 11	$47,555,240	37.3%	5.2%	5,580
4	124	Bethalto Consolidated Unit School District 8	$30,712,913	76.5%	10.6%	2,347
5	129	Triad Community Unit School District 2	$29,966,377	30.1%	4.2%	3,983
6	165	Granite City Community Unit School District 9	$21,595,000	21.1%	2.9%	5,660
7	234	Roxana Community Unit School District 1	$14,269,643	16.4%	2.3%	1,640
8	347	Collinsville Community Unit School District 10	$7,844,419	5.3%	0.7%	5,912
9	399	Wood River-Hartford Elementary School District 15	$5,961,639	59.4%	4.1%	560
10	490	Madison Community Unit School District 12	$3,700,000	98.4%	13.6%	588
11	511	East Alton School District 13	$3,317,653	61%	4.2%	688
12	516	East Alton-Wood River Community High School District 14	$3,251,000	21%	1.4%	500