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Regional Digest for May 3, 2008:

Olympia gets good money marks

STANFORD - The Olympia school district has received a good financial rating from the state for the third year in a row.

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The Illinois State Board of Education gave the district "financial recognition" status - the highest of four categories. The rating is based on the district's cash reserves, revenue, expenditures and debt.

"Congratulations goes to the board for having an interest in and knowledge of the budget and staying within it," Superintendent Brad Hutchison said.

The district was placed on early warning status in 2004 because spending was exceeding income, said Andrew Wise, the district's business and operations manager. The district has turned that around, thanks largely to budget cuts and a property tax increase voters approved last year, he said.

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