State law allows Pope Co CUD 1 to borrow a total of $6,585,895.
The state limits how much school districts can borrow, capping their debt at a percentage of the district's property wealth, as determined by county and township assessors.
Community unit school districts are able to borrow up to 13.8 percent of their total property value, or Equalized Assessed Value (EAV). Elementary school districts are able to borrow up to 6.9 percent of their EAV.
However, school districts exceeding these debt caps are not punished or sanctioned, as the state has no enforcement mechanism in place.
In 2015, Pope Co 1, an unit school district, had an EAV of $47,723,877, according to ISBE.
The following table ranks debt held by area school districts.
School district
Maximum debt allowed
Current debt
Percentage used
Harrisburg CUSD 3
$17,944,075
$28,145,205
156.8%
Vienna SD 55
$2,210,733
$2,518,595
113.9%
Vienna HSD 133
$4,319,247
$3,222,080
74.6%
Goreville CUD 1
$7,947,570
$3,874,728
48.8%
Eldorado CUSD 4
$8,038,366
$3,739,550
46.5%
Grayville CUSD 1
$2,471,591
$1,051,444
42.5%
Carmi-White County CUSD 5
$17,391,898
$6,840,465
39.3%
New Simpson Hill SD 32
$1,203,383
$425,000
35.3%
Norris City-Omaha-Enfield CUSD 3
$7,284,015
$2,250,374
30.9%
Massac UD 1
$19,152,438
$5,131,923
26.8%
Galatia CUSD 1
$5,893,354
$1,245,000
21.1%
Hardin County CUSD 1
$4,054,666
$845,000
20.8%
Joppa-Maple Grove UD 38
$4,150,427
$393,829
9.5%
Carrier Mills-Stonefort CUSD 2
$2,549,008
$198,000
7.8%
Cypress SD 64
$406,727
$25,000
6.1%
Gallatin CUSD 7
$8,297,395
$416,324
5%
Buncombe Cons SD 43
$414,386
$0
0%
Pope Co CUD 1
$6,585,895
$0
0%
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