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FY 2011 Comprehensive Annual Financial Report Presentation December 13, 2011. Tonight’s Presentation. Financial Highlights Long Term Debt General Fund Performance Other Fund Performance Enterprise Funds Audit Results Significant Deficiencies Advisory Comments - PowerPoint PPT Presentation
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DOUGLAS COUNTY SCHOOL DISTRICT Learn Today. Lead Tomorrow.
FY 2011 Comprehensive Annual
Financial Report Presentation
December 13, 2011
DOUGLAS COUNTY SCHOOL DISTRICT Learn Today. Lead Tomorrow.2
Tonight’s Presentation• Financial Highlights
• Long Term Debt• General Fund Performance• Other Fund Performance• Enterprise Funds
• Audit Results• Significant Deficiencies• Advisory Comments
• Management’s Response to Audit
DOUGLAS COUNTY SCHOOL DISTRICT Learn Today. Lead Tomorrow.3
General Obligation (GO) Redemption Bonds - $543.2 M Outstanding plus $264.2 M in Interesto $86,405,000 Refunding Bonds
• Issued September 2010• Resulted in $3.2M savings to District taxpayers
o Future Refunding Opportunities
Certificates of Participation (COP) - $27.5 M Outstanding plus $11.3 M in Interest o $13,920,000 COP Debt (2009)– SkyView Charter Schoolo $14,125,000 COP Debt (2006) – Lone Tree Magnet Elemo $ 5,075,000 COP Debt (2003) – D.C. Oakes Renovation
Long Term Debt(Pgs 54 – 61)
DOUGLAS COUNTY SCHOOL DISTRICT Learn Today. Lead Tomorrow.4
Combined General Fund(2006 – 2011)
General Fund2011 2010 2009 2008 2007 2006
Assigned/Restricted $ 39.6 M $ 24.4 M $ 14.5 M $ 12.4 M $ 11.6 M $10.3 M
Unassigned 26.8 M 21.7 M 6.1 M 7.8 M 24.1 M 24.6 M
Total General Fund $ 66.4 M $ 46.1 M $ 20.6 M $ 20.2 M $ 35.6 M $ 34.9 M
DOUGLAS COUNTY SCHOOL DISTRICT Learn Today. Lead Tomorrow.5
Combined General Fund Balance (GASB 54 Compliance)
FUND BALANCES – Reference Pg 34Non-spendable - Inventories (includes) 727,782Non-spendable Prepaids 35,000Restricted for Emergencies (TABOR) 11,745,301Reserved for Insurance (Risk Management) 783,884Assigned & Reported to:
Full Day Kindergarten 4,490,780 Schools 8,528,797 Departments 8,302,279 Transportation Fund 249,425 Insurance Reserve Fund (Risk Management ) 783,884 Early Separation Agreement 4,759,164
Unassigned 26,815,727Total Combined General Fund Balances 66,438,139
DOUGLAS COUNTY SCHOOL DISTRICT Learn Today. Lead Tomorrow.6
Final Budget Actual 2011 Actual 2010
-10.0%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
64.6% 66.0%70.5%
19.8%18.7% 18.9%
0.9% 1.2% 1.0%1.9%
1.9% 1.7%
5.2% 5.6% 5.7%1.4% 3.2%0.4%
3.9% 0.7%
-0.3%
2.6%
SalariesEmployee BenefitsPurchased Professional ServicesPurchased Property ServicesOther Purchased ServicesSuppliesProperty & EquipmentOther Objects
Combined General FundExpenditures by Object
(pg 77)
DOUGLAS COUNTY SCHOOL DISTRICT Learn Today. Lead Tomorrow.7
General Fund Revenue Trend
$0
$50,000,000
$100,000,000
$150,000,000
$200,000,000
$250,000,000
$300,000,000
2011 2010 2009 2008 2007 2006
Property Taxes Specific Ownership Taxes State Equalization
DOUGLAS COUNTY SCHOOL DISTRICT Learn Today. Lead Tomorrow.8
Mill Levy $ Per Student
$520
$540
$560
$580
$600
$620
$640
$660
$680
$700
$720
2012 2011 2010 2009 2008 2007 2006 2005 2004
DOUGLAS COUNTY SCHOOL DISTRICT Learn Today. Lead Tomorrow.
Other Fund Results
9
• Transportation Fund (pg 83) - $540,000 • Capital Projects Funds (pgs 88-91)
• Capital Projects - $12.3 M• Bond Building - $14.6 M• Capital Reserve Fund – Phasing Out
• Bond Redemption Fund (pgs 86-87) - $59.3 M• Medical Risk Fund (pgs 96-97) - $6.4 M (Internal Service Fund)
DOUGLAS COUNTY SCHOOL DISTRICT Learn Today. Lead Tomorrow.10
Enterprise Funds
DOUGLAS COUNTY SCHOOL DISTRICT Learn Today. Lead Tomorrow.11
Nutrition Services(Pgs 92-93)
FY 2011 FY 2010
DOUGLAS COUNTY SCHOOL DISTRICT Learn Today. Lead Tomorrow.12
B.A.S.E.Before & After School Enterprise
(pgs 94-95)FY 2011 FY 2010