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)

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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 34

Non-spendable - Inventories (includes) 727,782

Non-spendable Prepaids 35,000

Restricted for Emergencies (TABOR) 11,745,301

Reserved for Insurance (Risk Management) 783,884

Assigned & 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 26,815,727

Total 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)

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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

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Nutrition Services(Pgs 92-93)

FY 2011 FY 2010

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B.A.S.E.Before & After School Enterprise

(pgs 94-95)FY 2011 FY 2010