Lancaster ISD - Annual Report of Certain Financial …...$1.41270 $1.41270 $1.41800 $1.37012 $1.54000 $0.00 $0.25 $0.50 $0.75 $1.00 $1.25 $1.50 $1.75 $2.00 $2.25 2010/11 2011/12 2012/13

Annual Report of Certain Financial and Local Debt Information

Fiscal Year Ended August 31, 2016

This report was posted on the District’s website on Wednesday, March 29, 2017.

Denotes Required Information Pursuant to Local Government Code, Section 140.008

1

Overview: Lancaster Independent School District (the “District”) has been assigned the followingindependent financial/bond ratings that indicate the relative strength of the District’s financial and debtmanagement:

School Financial Integrity Rating System of Texas (“FIRST”): Pursuant to Subchapter D,Chapter 39 of the Texas Education Code, the State annually deploys a financial accountability ratingsystem to distinguish the level of a school district’s financial performance based upon certain uniformcriteria.

Based on data for year 2014/15, the District was assigned a 2015/16 FIRST Rating of“Superior”.

Credit Ratings: The District also maintains independent ratings from certain nationally recognizedcredit rating agencies, such as Moody’s Investors Service and S&P Global Ratings, that evaluate theDistrict’s financial strength and its ability to pay its existing bonds.

Moody’s Investors Service: Assigns a “A2” credit rating to the District, defined as “Judged tobe upper-medium grade and are subject to low credit risk.”

S&P Global Ratings: Assigns a “A” credit rating to the District, defined as “Having a strongcapacity to meet its financial commitments but is somewhat more susceptible to the adverse effectsof changes in circumstances and economic conditions than obligors in higher-rated categories.”

For comparison purposes, S&P Global Ratings assigns a credit rating of “AA” to the United States ofAmerica, which is one rating category above the District.

Overview of Certain Financial/Bond Ratings

2

M&O Revenue by Source – Year 2015/16

Local(31.9%)

State(65.7%)

Federal(2.3%)

State Funding System – Where Do the District’s Revenues Come From: Lancaster ISD is legallyrequired to operate pursuant to the requirements of the Texas Education Code. In particular, the TexasEducation Code determines the District’s ability to generate local tax revenues for maintenance &operation purposes and for the repayment of voter-approved bonds. In this regard, the District annuallysets two (2) separate tax rates that are levied upon its certified taxable value that is independentlydetermined by the Dallas Central Appraisal District: Maintenance & Operations (“M&O”) Tax Rate: To provide funds for the “day to day” operational

expenses of the District, including instructional programs, teacher salaries, instructional supplies,security, student transportation, extracurricular activities, utilities, facility infrastructure/maintenance, etc. The District’s annual funds for maintenance & operation purposes primarily consist of a

combination of State funding and local M&O taxes. In general, the dollar amount of eachcomponent is determined by the District’s “Equalized Wealth per Student” (i.e. taxable value /weighted average daily attendance) as set by the State. For year 2015/16, the District’s sourcesfor M&O revenues are summarized below.

Source: District’s Audited Financial Statements and District records.

Overview of State Funding System

3

Interest & Sinking Fund (“I&S”) Tax Rate: To provide funds to pay the principal and interest onbonds approved by a majority of voters for capital improvements. The following summarizes theDistrict’s bond programs approved by voters over the last 15 years:

As of fiscal year ended August 31, 2016, the District had $43,906,818 within its Capital ProjectsFund for projects currently in progress.

In October 2016, the District issued $7,400,000 of its authorization from the 2015 BondProgram and $67,000,000 of bonds remained authorized but unissued.

Overview of State Funding System

Source: Texas Bond Review Board, Texas Education Agency - PEIMS, District’s Audited Financial Statements and District records.

District’s Historical Bond Elections Approved By Voters

Election Date PurposeStudent

Enrollment Election Amount

Dollar AmountRemaining

To Be Issued -As of Aug. 31, 2016

Dollar AmountRemaining

To Be Issued -As of Feb. 1, 2017

February 7, 2004 School Building 4,754 $110,000,000 $0 $0May 9, 2015 School Building & Security 7,052 $125,900,000 $74,400,000 $67,000,000

Total Dollar Amount Of Authorized But Unissued Bonds: $74,400,000 $67,000,000

4

6,2616,164

6,536

6,820

7,052

7,324

4,000

4,500

5,000

5,500

6,000

6,500

7,000

7,500

8,000

2010/11 2011/12 2012/13 2013/14 2014/15 2015/16

Stu

den

t E

nro

llmen

tHistorical Student Enrollment

Source: Texas Education Agency - PEIMS and District records.

Over the last 5 years, the number ofstudents within the District has increasedby 1,063 or an increase of 16.98%.

5

442 409 383 356

502 534

8280

7272

6372

4335

3538

4745

208228

216 290

197187

774 753707

756808

838

0

200

400

600

800

1,000

1,200

2010/11 2011/12 2012/13 2013/14 2014/15 2015/16

Fu

ll-T

ime

Eq

uiv

alen

t P

erso

nn

el

Teachers & Paraprofessional Staff Support Staff Administrators Auxiliary Staff (i.e. bus drivers, food service, etc.)

Full-Time Equivalent Personnel

Source: Texas Education Agency - PEIMS, Texas Education Agency - AEIS and District records.

Over the last 5 years, the District’s full-time equivalent personnelhas correspondingly increased by 64 to accommodate theadditional 1,063 students attending schools within the District.

6

0.0706 0.06640.0586 0.0522

0.0711 0.0730

0.01300.0130

0.01110.0106

0.0090 0.0098

0.00690.0057

0.00540.0056

0.0067 0.0062

0.03320.0370

0.0330 0.0424

0.0279 0.0255

0.1236 0.1221

0.1081 0.1108 0.1146 0.1145

0.0000

0.0200

0.0400

0.0600

0.0800

0.1000

0.1200

0.1400

0.1600

0.1800

2010/11 2011/12 2012/13 2013/14 2014/15 2015/16

Fu

ll-T

ime

Eq

uiv

alen

t P

erso

nn

el P

er S

tud

ent

Teachers & Paraprofessional Staff Support Staff Administrators Auxiliary Staff (i.e. bus drivers, food service, etc.)

Full-Time Equivalent Personnel Per Student

Source: Texas Education Agency - PEIMS, Texas Education Agency - AEIS and District records.

For year 2015/16, the District employed 0.1145 full-time equivalentpersonnel per student.

7

$1.03470 $1.03470 $1.04000 $1.04000 $1.04000 $1.04000

$0.37800 $0.37800 $0.37800 $0.37800 $0.33012$0.50000

$1.41270 $1.41270 $1.41800 $1.41800 $1.37012

$1.54000

$0.00

$0.25

$0.50

$0.75

$1.00

$1.25

$1.50

$1.75

$2.00

$2.25

2010/11 2011/12 2012/13 2013/14 2014/15 2015/16

Pro

per

ty T

ax R

ate

Per

$10

0 V

alu

atio

n

Maintenance & Operations Tax Rate Interest & Sinking Fund Tax Rate

Historical Tax Rates


Over the last 5 years, the District’s total tax rate has increased by12.73 cents as a result of voters approving the 2015 Bond Program.

8

$1,2

01

$1,2

01

$1,2

05

$1,2

05

$1,1

65

$1,1

55

$2,6

14

$2,6

14

$2,6

23

$2,6

23

$2,5

35

$2,6

95

$4,0

26

$4,0

26

$4,0

41

$4,0

41

$3,9

05 $4,2

35

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

$4,000

$4,500

2010/11 2011/12 2012/13 2013/14 2014/15 2015/16

An

nual

Pro

per

ty T

axes

$100,000 Appraised Home Value $200,000 Appraised Home Value $300,000 Appraised Home Value

Historical Total Property Taxes For Maintenance and Operations and Voter-Approved Bonds – For Various Appraised Home Values

Note: Taxes are net of the State-mandated residential homestead exemption.

9

$6.42

$3.21$2.14

$1.60

$14.97

$7.49

$4.99

$3.74

$23.53

$11.76

$7.84

$5.88

$0.00

$5.00

$10.00

$15.00

$20.00

$25.00

0-1 Child 2 Children 3 Children 4 Children

Cos

t P

er S

choo

l Day

$100,000 Appraised Home Value $200,000 Appraised Home Value $300,000 Appraised Home Value

Summary of Property Tax Cost Per School Day –For Various Appraised Home Values – Year 2015/16

Note: Taxes are net of the $25,000 State-mandated residential homestead exemption. Assumes a 180 school day year.

In year 2015/16, a homeowner with a $100,000 Appraised Home Valueand 1 or no children attending Lancaster ISD paid approximately$6.42 of school property taxes for each school day.

A homeowner with a $100,000 Appraised Home Value and 2 childrenattending Lancaster ISD paid approximately $3.21 of school propertytaxes per child for each school day.

This includes the cost of instructional programs, teacher salaries,instructional supplies, security, student transportation, extracurricularactivities, facilities infrastructure/maintenance and bond payments.

10

Composition of Total Assessed Valuation – Year 2015/16

Source: Texas Comptroller of Public Accounts - Property Tax Assistance Division.

Single-Family Residential

(48.3%)

Multi-Family Residential(4.2%)

Vacant Lots, Acreage, Farm & Ranch Improvements

(7.1%)

Oil, Gas & Minerals(0.0%)

Business, Commercial, Industrial, Utilities,

Other(40.4%)

For year 2015/16, Single-Family Residential properties comprised 48.3% of the District’stotal assessed valuation and other property categories comprised 51.7%.

11

$1,5

14,8

55,9

44

$1,5

26,3

20,4

97

$1,4

71,4

53,0

83

$1,4

77,8

38,8

24

$1,6

57,8

04,7

66

$1,7

59,2

23,3

66

$241

,951

$247

,619

$225

,131

$216

,692

$235

,083

$240

,200

$100,000

$120,000

$140,000

$160,000

$180,000

$200,000

$220,000

$240,000

$260,000

$280,000

$300,000

$0

$200 Mil

$400 Mil

$600 Mil

$800 Mil

$1.0 Billion

$1.2 Billion

$1.4 Billion

$1.6 Billion

$1.8 Billion

$2.0 Billion

2010/11 2011/12 2012/13 2013/14 2014/15 2015/16

Taxab

le Valu

e Per Stu

den

t En

rollmen

tT

axab

le A

sses

sed

Val

uat

ion

Taxable Assessed Valuation Taxable Value Per Student Enrollment

Historical Taxable Assessed Valuation and Taxable Value Per Student Enrollment

Source: Texas Comptroller of Public Accounts - Property Tax Assistance Division, Texas Education Agency - PEIMS and District records.

The District’s taxable value per student has rangedfrom $216,692 to $247,619 over the last 5 years.

12

Year 2010/11M&O Revenue by Source

I&S Revenue by Source


________(A) Includes $2,498,227 from the State Fiscal Stabilization Fund, distributed under the Federal American Recovery and Reinvestment Act.(B) Includes payment from State received for lost tax revenues resulting from increase of residential homestead exemption in year 2015/16.

Year 2015/16M&O Revenue by Source

I&S Revenue by Source

Given the State funding system is structured to provide the District with an “equalized” dollar amount perstudent, the decrease of the District’s taxable value per student has increased the percentage of M&Orevenues received from the State from 63.6%(A) to 65.7% over the last 5 years.

For year 2015/16, the District received $2,463,219(B) in facilities funding from the State for the payment ofvoter-approved bonds.

Local(79.9%)

State(20.1%)

Local(35.6%)

State(A)

(63.6%)

Federal(0.7%)

Local(31.9%)

State(65.7%)

Federal(2.3%)

Local(77.8%)

State(B)

(22.2%)

General Fund and Debt Service Fund – Revenue By Source

13

(A) Includes maintenance and operation expenses and bond payments of voter-approved bonds.

$21,198,688 $20,819,713 $20,271,318 $20,694,051 $21,998,981$26,422,940

$1,436,885 $1,055,438 $2,745,942 $2,247,788 $2,134,875

$2,928,550

$30,436,574 $28,711,846$30,768,234

$36,863,178$41,191,716

$42,800,327

$8,450,918$5,234,180

$5,077,746

$8,664,969

$10,092,284

$9,121,520

$61,523,065

$55,821,177$58,863,240

$68,469,986

$75,417,856

$81,273,337

$0

$10 Mil

$20 Mil

$30 Mil

$40 Mil

$50 Mil

$60 Mil

$70 Mil

$80 Mil

$90 Mil

2010/11 2011/12 2012/13 2013/14 2014/15 2015/16

Rev

enue

s

Property Taxes Other Local & Intermediate Sources State Program Revenues Federal Program Revenues

Total Revenues (All Governmental Funds*) By Source

*Excludes Capital Projects Fund. Source: District’s Audited Financial Statements and District records.

Property Taxes(A)

14

(A) Includes maintenance and operation expenses and bond payments of voter-approved bonds.

$3,386 $3,378 $3,101 $3,034 $3,120$3,608

$230 $171 $420 $330 $303$400

$4,861 $4,658 $4,708 $5,405$5,841

$5,844

$1,350$849 $777

$1,271

$1,431$1,245$9,826

$9,056 $9,006

$10,040

$10,695$11,097

$0

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

2010/11 2011/12 2012/13 2013/14 2014/15 2015/16

Rev

enu

es P

er S

tud

ent

Property Taxes Other Local & Intermediate Sources State Program Revenues Federal Program Revenues

Total Revenues (All Governmental Funds*) Per Student

*Excludes Capital Projects Fund. Source: District’s Audited Financial Statements, Texas Education Agency - PEIMS and District records.

Property Taxes(A)

15

Total Expenditures (All Governmental Funds*) By Source

*Excludes Capital Projects Fund. Source: District’s Audited Financial Statements and District records.

$38,558,549 $37,574,208 $40,703,605 $43,766,370 $46,362,395 $49,503,410

$2,126,668 $1,970,523$2,202,635

$2,809,451$3,134,615

$3,192,046

$9,310,592$8,176,222

$8,891,648

$15,021,299$14,767,897

$14,679,825

$7,188,107$7,833,707

$7,384,560

$7,246,749$7,590,356

$11,337,085

$132,368 $135,341$118,047

$150,548$121,284

$1,662,453

$57,316,284 $55,690,001$59,300,495

$68,994,417$71,976,547

$80,374,819

$0

$10 Mil

$20 Mil

$30 Mil

$40 Mil

$50 Mil

$60 Mil

$70 Mil

$80 Mil

$90 Mil

2010/11 2011/12 2012/13 2013/14 2014/15 2015/16

Exp

end

itu

res

Instruction & Instructional Support Central Administration District Operations Debt Service Other / Capital Projects

16

Total Expenditures (All Governmental Funds*) Per Student

*Excludes Capital Projects Fund. Source: District’s Audited Financial Statements, Texas Education Agency - PEIMS and District records.

$6,159 $6,096 $6,228 $6,417 $6,574 $6,759

$340 $320 $337$412 $445 $436

$1,487 $1,326 $1,360

$2,203 $2,094 $2,004$1,148 $1,271 $1,130

$1,063 $1,076$1,548

$21 $22 $18

$22 $17

$227

$9,154 $9,035 $9,073

$10,116 $10,207

$10,974

$0

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

2010/11 2011/12 2012/13 2013/14 2014/15 2015/16

Exp

end

itu

res

Per

Stu

den

t

Instruction & Instructional Support Central Administration District Operations Debt Service Other / Capital Projects

17

27.14%29.21%

27.33%

22.32%

26.03%23.86%

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

35.00%

40.00%

45.00%

50.00%

2010/11 2011/12 2012/13 2013/14 2014/15 2015/16

Un

rest

rict

ed G

ener

al O

per

atin

g F

un

d B

alan

ce P

er E

xpen

dit

ure

sUnrestricted General Operating Fund Balance as a Percentage of General Operating Expenditures


Unrestricted General Operating Fund Balance is a reservemaintained to meet future expenses, which equaled approximately2.86 months of the District’s operating expenditures for year 2015/16.

The Texas Education Agency and the bond rating agencies rely upona school district’s General Operating Fund Balance to determinefinancial management ratings.

18

Note: Debt service payments reflect payments from September 1 through August 31.

$0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

2016

/17

2017

/18

2018

/19

2019

/20

2020

/21

2021

/22

2022

/23

2023

/24

2024

/25

2025

/26

2026

/27

2027

/28

2028

/29

2029

/30

2030

/31

2031

/32

2032

/33

2033

/34

2034

/35

2035

/36

2036

/37

2037

/38

2038

/39

2039

/40

2040

/41

2041

/42

2042

/43

2043

/44

2044

/45

An

nual

Bon

d P

aym

ents

Unlimited Tax Refunding Bonds, Series 2012 Unlimited Tax Refunding Bonds, Series 2013

Unlimited Tax Refunding Bonds, Series 2014 Unlimited Tax School Building Bonds, Series 2015-A

Unlimited Tax Refunding Bonds, Series 2015-B Unlimited Tax Refunding Bonds, Series 2015-C

Source: District’s Audited Financial Statements and District records – As of August 31, 2016.

Unlimited Tax Debt Service By Series –Existing Bonds Approved By Voters

In October 2016, the District issued its Unlimited Tax School Building Bonds, Series 2016to fund $7,400,000 of capital projects approved by voters within the 2015 Bond Program.

19

Note: Debt service payments reflect payments from September 1 through August 31.

$0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

2016

/17

2017

/18

2018

/19

2019

/20

2020

/21

2021

/22

2022

/23

2023

/24

2024

/25

2025

/26

2026

/27

2027

/28

2028

/29

2029

/30

2030

/31

2031

/32

2032

/33

2033

/34

2034

/35

2035

/36

2036

/37

2037

/38

2038

/39

2039

/40

2040

/41

2041

/42

2042

/43

2043

/44

2044

/45

An

nual

Bon

d P

aym

ents

Principal Interest

Unlimited Tax Debt Service By Principal and Interest –Existing Bonds Approved By Voters

Source: District’s Audited Financial Statements and District records – As of August 31, 2016.

As of August 31, 2016

Principal 135,700,344$ + Interest 103,278,925 = Total 238,979,269$

20

Savings from District’s Recent Bond Refunding Programs to Lower Interest Costs

Lancaster ISD has implemented 6 bond refunding programs to reduce the cost of voter-approved bonds –Which have generated more than $27.5 million of savings for District taxpayers in recent years.

Source: District records.

Summary of Interest Cost Savings – Bond Refunding Programs

Issue Series Refunded

Principal Amount

Refunded Total Savings

Unlimited Tax Refunding Bonds, Series 2006 2004 46,141,942$ 7,555,278$ Unlimited Tax Refunding Bonds, Series 2012 2004 17,997,739 3,462,258 Unlimited Tax Refunding Bonds, Series 2013 2005 8,975,000 2,385,310 Unlimited Tax Refunding Bonds, Series 2014 2005 9,385,000 1,611,878 Unlimited Tax Refunding Bonds, Series 2015-B 2005 9,705,000 1,614,601 Unlimited Tax Refunding Bonds, Series 2015-C 2006 45,686,942 10,923,369

Totals --- 137,891,623$ 27,552,694$

21

Summary of Unlimited Tax Debt Outstanding By Series –As of Fiscal Year Ended August 31, 2016

Source: District’s Audited Financial Statements, 2010 U.S. Census (Interpolated) and District records. Per capita figures are based upon an estimated population of 42,518.

No. Issue Description Purpose

OriginalPrincipalAmount

OutstandingPrincipal

Total OutstandingDebt Service


Per Capita

OutstandingDebt ServicePer Capita

FinalMaturity

Date

TotalProceedsReceived

SpentProceeds

UnspentProceeds

1 Unlimited Tax Refunding Bonds, Series 2012 Refunding at a lower interest rate, etc.

$17,997,721.25 $17,393,411.30 $25,880,700.00 $409.08 $608.70 02/15/2022 $30,589,839.22 $30,589,839.22 $0.00


$8,975,000.00 $8,670,000.00 $14,211,512.50 $203.91 $334.25 02/15/2035 $9,913,939.17 $9,913,939.17 $0.00


$8,760,000.00 $8,760,000.00 $11,588,875.00 $206.03 $272.56 02/15/2029 $9,674,674.38 $9,674,674.38 $0.00

4 Unlimited Tax School Building Bonds, Series 2015-A Capital Improvements $48,110,000.00 $46,940,000.00 $92,707,056.25 $1,104.00 $2,180.42 02/15/2045 $51,687,336.11 $5,917,538.24 $45,769,797.87

5 Unlimited Tax Refunding Bonds, Series 2015-B Refunding at a lower interest rate, etc.

$9,630,000.00 $9,055,000.00 $14,061,600.00 $212.97 $330.72 02/15/2035 $9,829,092.67 $9,829,092.67 $0.00

6 Unlimited Tax Refunding Bonds, Series 2015-C Refunding at a lower interest rate, etc.

$45,681,932.50 $44,881,932.50 $80,529,525.00 $1,055.60 $1,894.01 02/15/2034 $57,200,602.54 $57,200,602.54 $0.00

22

Summary of Maintenance Tax Debt Outstanding –As of Fiscal Year Ended August 31, 2016

Source: District’s Audited Financial Statements, 2010 U.S. Census (Interpolated) and District records. Per capita figures are based upon an estimated population of 42,518.

No. Issue Description Purpose

OriginalPrincipalAmount


Total OutstandingDebt Service


Per Capita

OutstandingDebt ServicePer Capita

FinalMaturity

Date

TotalProceedsReceived

SpentProceeds

UnspentProceeds

1 Qualified Zone Academy Maintenance Tax Notes, Taxable Series 2012 (Direct-Pay Subsidy Notes)

Maintenance & Equipment

$6,075,000.00 $6,075,000.00 $7,128,000.00 $142.88 $167.65 08/15/2027 $6,029,437.50 $6,011,819.05 $17,618.45

TotalSinking Fund Less: Estimated Debt Service

Year Principal Requirements (B) Interest Federal Subsidy(C) Requirements2016/17 -$ 405,000.00$ 243,000.00$ (243,000.00)$ 405,000.00$ 2017/18 - 405,000.00 243,000.00 (243,000.00) 405,000.00 2018/19 - 405,000.00 243,000.00 (243,000.00) 405,000.00 2019/20 - 405,000.00 243,000.00 (243,000.00) 405,000.00 2020/21 - 405,000.00 243,000.00 (243,000.00) 405,000.00 2021/22 - 405,000.00 243,000.00 (243,000.00) 405,000.00 2022/23 - 405,000.00 243,000.00 (243,000.00) 405,000.00 2023/24 - 405,000.00 243,000.00 (243,000.00) 405,000.00 2024/25 - 405,000.00 243,000.00 (243,000.00) 405,000.00 2025/26 - 405,000.00 243,000.00 (243,000.00) 405,000.00 2026/27 6,075,000.00 (5,670,000.00) 243,000.00 (243,000.00) 405,000.00

Totals 6,075,000.00$ (1,620,000.00)$ 2,673,000.00$ (2,673,000.00)$ 4,455,000.00$

Annual Maintenance Tax Debt Service Requirements (A)

(A) Payable from the District’s Maintenance & Operations tax rate.(B) The District is obligated to make mandatory deposits into a Cumulative Sinking Fund Deposit Account on August 15 for the Qualified ZoneAcademy Maintenance Tax Notes, Taxable Series 2012 (Direct-Pay Subsidy Notes) (the “Series 2012 Notes”). All amounts held in theCumulative Sinking Fund Deposit Account will be used to pay the Series 2012 Notes on the maturity date of August 15, 2027 or the date of priorredemption thereof. As of August 31, 2016, the District has deposited $1,620,000 into the Cumulative Sinking Fund Deposit Account.(C) Includes the Federal subsidy which has been estimated at 100.00% of the interest payments on the Series 2012 Notes for illustration purposesonly. As a result of sequestration, for year 2015/16, the District received a Federal subsidy equaling approximately 93.20% of the interestpayment on the Series 2012 Notes.

23

$0 $0 $6,075,000 $6,075,000 $6,075,000 $6,075,000

$99,392,165 $96,537,185$94,282,027 $91,424,663

$138,508,846 $135,700,344

$99,392,165 $96,537,185$100,357,027 $97,499,663

$144,583,846 $141,775,344

6.56%6.32%

6.82%6.60%

8.72%

8.06%

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%

7.00%

8.00%

9.00%

10.00%

$0

$20 Mil

$40 Mil

$60 Mil

$80 Mil

$100 Mil

$120 Mil

$140 Mil

$160 Mil

$180 Mil

$200 Mil

2010/11 2011/12 2012/13 2013/14 2014/15 2015/16

Bon

d P

rincip

al Per T

axable A

ssessed V

aluation

Bon

d P

rin

cip

al O

uts

tan

din

g A

t F

isca

l Yea

r E

nd

M&O-Supported Debt I&S-Supported Debt

Source: District’s Audited Financial Statements, Texas Comptroller of Public Accounts - Property Tax Assistance Division and District records.

Tax-Supported Debt Obligations At Fiscal Year End and As a Percentage of Taxable Assessed Valuation

24Source: District’s Audited Financial Statements, 2010 U.S. Census (Interpolated), Bureau of Labor Statistics and District records.

Inflation-Adjusted Tax-Supported Debt Per Capita

$0 $0 $165 $155 $150 $143

$2,897 $2,815 $2,557$2,338

$3,419$3,192

$2,897 $2,815 $2,722$2,493

$3,569$3,334

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

$4,000

$4,500

$5,000

2010/11 2011/12 2012/13 2013/14 2014/15 2015/16

Bon

d P

rin

cip

al P

er C

apit

a

Inflation-Adjusted M&O-Supported Debt Per Capita Inflation-Adjusted I&S-Supported Debt Per Capita

Reflects an estimate of District’s principal amount of tax-supporteddebt outstanding per capita, with years 2010/11 - 2014/15 adjustedby rate of inflation portrayed by the Consumer Price Index.

25

Note: Debt payments represent District’s voter-approved bonds payable from a levy of its I&S tax rate.

Source: District’s Audited Financial Statements, 2010 U.S. Census (Interpolated), Bureau of Labor Statistics and District records.

Inflation-Adjusted Tax-Supported Debt Cost Per Capita –Principal and Interest In Each of the Last 5 Years

$165 $162

$147 $141$131

$201

$0

$50

$100

$150

$200

$250

$300

2010/11 2011/12 2012/13 2013/14 2014/15 2015/16

Loc

al T

axpa

yer

Cos

t Per

Cap

ita

-T

ax-S

uppo

rted

Deb

t Pay

men

ts On a per capita basis, reflects an estimate of local property taxes used to fundthe District’s annual principal and interest requirements of its tax-supporteddebt, with years 2010/11 - 2014/15 adjusted by rate of inflation portrayed bythe Consumer Price Index.

26

Main Office Contact Information:

Physical and Mailing Address:422 South Centre AvenueLancaster, Texas 75146

Phone: (972) 218-1400Fax: (972) 218-1401

For additional information regarding this report, please contact:

Mr. Leon FisherChief Financial OfficerPhone: (972) 218-1412Email: [email protected]

Links to Additional Resources:

https://www.comptroller.texas.gov/transparency/local/debt/isds.php

http://www.brb.state.tx.us/local_debt_search.aspx

Contact Information and Links to Additional Resources

Documents

Lancaster ISD - Annual Report of Certain Financial …...$1.41270 $1.41270 $1.41800 $1.37012 $1.54000 $0.00 $0.25 $0.50 $0.75 $1.00 $1.25 $1.50 $1.75 $2.00 $2.25 2010/11 2011/12 2012/13