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CCSD62 Financial Scope

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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.

A group of young students, both boys and girls, are engaged in an art activity in a colorful classroom setting with various educational posters and displays visible in the background.
The image shows several individuals wearing hairnets and working together on what appears to be a food preparation or packaging task in a commercial kitchen or food processing facility.
Two young students, a boy and a girl, are sitting at a desk in a classroom. The classroom has a world map and other educational posters on the walls, indicating it is an educational setting.

Financial Highlights:

• District 62 has maintained “financial recognition” status by the Illinois State Board of Education for the last 20 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.

• Until all district debt was retired in December 2024, the Board of Education had been abating in the debt service fund over $8 million annually to service the debt through operating funds. The Board of Education has also been abating the Recapture Tax Levy, which has varied between $800,000 and $2.1 million annually.

•After many years of prudent fiscal management, the district is going to use its fund balance to enhance education programs, including full day kindergarten.

FUND REVENUES EXPENSES
Educational

$87,226,803.30

$88,077,504.62
O&M

$14,522,720.78

$15,027,372.86
Debt Service

$12,043.64

$7,190,375.00
Transportation

$5,221,151.05

 $7,696,869.29
IMRF

$913,867.14

$1,122,658.37
Social Security

$1,760,956.03

$1,732,364.19
Capital Projects

$571.13

$0.00
Working Cash

$1,103,210.73

$0.00
Tort

$978,311.86

$793,281.00
Life Safety

$2,454.73

 $0.00
TOTAL

$111,742,090.39

$121,640,425.33

Unaudited Fiscal Year 2025 (FY25) financial results by fund. - August 11, 2025