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Financial Results

The financial results through April 2020 are positive. The year to date operating funds show a
surplus of $8,546,383 million. This can be attributed to the collection of the 2019 property taxes.
During the month of March and April. All operating funds were positive. As the end of the year
approaches and the final salary payouts are made in June, the surplus will be reduced.

Net
Beginning Income/(Net
Fund Description Balance Revenues Expenditures Deficit) Ending Balance
Operating Funds
10 Education 26,043,288 43,908,562 (39,419,339) 4,489,223 30,532,511
20 Operations/Maintenance 2,890,277 5,344,880 (4,407,271) 937,610 3,827,887
40 Transportation 3,519,847 5,069,695 (4,145,160) 924,535 4,444,382
50 IMRF - FICA/Medicare 1,052,595 3,314,459 (1,474,550) 1,839,909 2,892,505
70 Working Cash 5,666,004 355,106 - 355,106 6,021,110
Total Operating Funds 39,172,011 57,992,702 (49,446,319) 8,546,383 47,718,394

Non-Operating Funds
30 Debt Service 3,257,137 4,173,632 (4,526,250) (352,618) 2,904,519
60 Capital Projects 979,259 75,000,000 (1,545,309) 73,454,691 74,433,950
80 Tort 2,217,878 1,870,917 (1,913,175) (42,258) 2,175,620
90 Life Safety 3,238,066 (17,794) - (17,794) 3,220,272

Total Non-Operating Funds 9,692,340 81,026,755 (7,984,734) 73,042,021 82,734,362

Grand Total 48,864,352 139,019,457 (57,431,053) 81,588,404 130,452,756

Budget to Actual Information

The month of April reflects ten months or 83% of the budget. Since school district revenues are not
collected nor are expenditures collected equally thought out the year, it can be difficult to determine
whether receipts or spending is on track, when compared to budget, prior to March of each year.
However, based on the variance report below, overall revenues are greater than 92% received and
overall expenditures are below 80% spent. These are indications that the actual activity is on track
to meet budget expectations. State revenues are below expectations but this is typical. The other
category mostly consist of debt payments and those payments have a prescribed schedule. This line
should meet budget expectations by the end of the year. The variance report attached for your
review.

CHICAGO HEIGHTS COUNTRY CLUB HILLS MATTESON OLYMPIA FIELDS PARK FOREST RICHTON PARK UNIVERSITY
PARK

EQUAL OPPORTUNITY EMPLOYER/EDUCATOR