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Rich Township High School District 227
Budget to Actual Summary
As of March 31, 2020
All Funds Current Year
All Funds Year All Funds Total Percentage of
to Date Budget Budget
Beginning Balance 48,864,352 -
Revenues:
Local 50,596,585 53,900,052 0.06
State 8,586,540 12,087,996 0.29
Federal 2,648,347 3,766,427 0.30
Total Revenues 61,831,472 69,754,475 0.11
Expenditures:
Salaries 23,782,782 35,379,916 0.33
Benefits 6,248,861 8,481,457 0.26
Purchased Services 9,276,517 10,822,234 0.14
Supplies and Materials 3,055,537 4,050,227 0.25
Capital Outlay 697,710 3,758,945 0.81
Non-Captial Outlay 288,763 396,875 0.27
Other 8,272,901 9,231,734 0.10
Total Expenditures 51,623,071 72,121,388 0.28
Surplus/(Deficit) 10,208,401 (2,366,913) 5.31
Standard & Poor's bond rating
In preparation for the next bond issue, is was necessary for the district to obtain a bond rating. The
rating is like a credit score for individuals. A Standard & Poor's issue credit rating is a forward-
looking opinion about the creditworthiness of an obligor with respect to a specific financial
obligation, a specific class of financial obligations, or a specific financial program It takes into
consideration the creditworthiness of guarantors, insurers, or other forms of credit enhancement on
the obligation and takes into account the currency in which the obligation is denominated. The
opinion reflects Standard & Poor's view of the obligor's capacity and willingness to meet its
financial commitments as they come due, and may assess term.
(Source:
https://www.spratings.com/documents/20184/86966/Standard+%26+Poor%27s+Ratings+Definitio
ns/fd2a2a96-be56-47b8-9ad2-390f3878d6c6)
The rating call was held on April 2, 2020 and rating was issued April 9, 2020.
Standard & Poor's affirmed the AA rating that was issued last fall. The report noted, “The district
continues to build on very strong reserves, which are supported by higher state aid and conservative
budgeting.”
The rating also reflects our view of the district's:
CHICAGO HEIGHTS COUNTRY CLUB HILLS MATTESON OLYMPIA FIELDS PARK FOREST RICHTON PARK UNIVERSITY
PARK
EQUAL OPPORTUNITY EMPLOYER/EDUCATOR
