CCSD62 Financial Scope
The District 62 Board of Education approves a budget each fall for the purpose of guiding staff on how dollars are spent to support instructional programs for students.
The process of creating the budget for the upcoming school year is one that begins in January. Through routine management of the district’s resources the district has maintained a strong fund balance.
Financial Highlights:
• District 62 has maintained “financial recognition” status by the Illinois State Board of Education for the last 17 years. Financial recognition is the highest designation for a school district to receive.
• Since 2009, the district has maintained a bond rating of AA+ with Standard & Poor’s, which is the second highest credit rating that an elementary school district can achieve.
• Supplemental funds come in the form of federal grant dollars that are used to support our students of financial need as well as our English Learners and Special Education students.
• The Board of Education abates over $8 million on the Debt Service Levy annually by paying for the 2019 bond obligation through operating funds.
Unaudited Actuals for Fiscal Year 2022, Ended June 30, 2022
| FUND | REVENUES | EXPENSES |
|---|---|---|
| Educational |
$83,047,744.59 |
$74,625,447.34 |
| O&M |
$20,289,922.91 |
$9,500,002.87 |
| Debt Service |
$810.53 |
$8,171,875.00 |
| Transportation |
$3,872,317.21 |
$3,705,618.90 |
| IMRF |
$1,260,903.15 |
$1,271,384.51 |
| Social Security |
$1,491,731.36 |
$1,551,871.14 |
| Capital Projects |
$9.78 |
$3,875.00 |
| Working Cash |
$954,765.93 |
$0.00 |
| Tort |
$202,933.28 |
$498,953.00 |
| Life Safety |
$1,010.82 |
$0.00 |
| TOTAL |
$111,122,149.56 |
$99,329,027.76 |