Lake Villa 41 Awarded Financial Recognition Status

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The 2020/21 Fiscal Year for school districts ended on June 30th. Although it was a challenging year for the entire community because of COVID, one silver lining was an end-of-year solid financial position for Lake Villa 41. Because of the pandemic, the district received additional federal aid to allow the district to purchase necessary equipment and programs to sustain both remote and hybrid learning successfully. This fiscal year ended with a surplus of $4,813,216 in the operating fund. Lake Villa 41 was once again awarded the state’s Financial Recognition designation placing it in the highest financial strength category.

The last payment for the 20-year bond obligations was paid during 20-21. Even though the District took out new bond debt to fund needed facility improvements, homeowners with the average valued house will see over $700 reduction in property taxes on their 2020 property tax bill.