fy 2011 comprehensive annual financial report presentation december 13, 2011

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

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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

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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

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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

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Mill Levy $ Per Student

$520

$540

$560

$580

$600

$620

$640

$660

$680

$700

$720

2012 2011 2010 2009 2008 2007 2006 2005 2004

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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)

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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