Comprehensive annual financial report, 2024

Cobb County School District
Annual Comprehensive Financial Report
Fiscal Year Ended June 30, 2024
PREPARED BY: COBB COUNTY BOARD OF EDUCATION
FINANCIAL SERVICES DIVISION BRADLEY REUBEN JOHNSON, CHIEF FINANCIAL OFFICER
514 Glover Street Marietta, Georgia 30060

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COBB COUNTY SCHOOL DISTRICT ANNUAL COMPREHENSIVE FINANCIAL REPORT
TABLE OF CONTENTS FOR THE YEAR ENDED JUNE 30, 2024
INTRODUCTORY SECTION Letter of Transmittal Certificate of Achievement / GFOA Certificate of Excellence / ASBO Cobb County School District - Function and Composition Cobb County School District Elected Officials and Superintendent of Schools Cobb County School District - Superintendent's Executive Cabinet Cobb County School District - Organizational Chart
FINANCIAL SECTION Independent Auditor's Report Management's Discussion and Analysis Basic Financial Statements District-wide Financial Statements: Statement of Net Position Statement of Activities Fund Financial Statements: Balance Sheet - Governmental Funds Reconciliation of the Governmental Funds Balance Sheet to the
Statement of Net Position Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds

PAGE i-iv v vi vii viii ix x
1-4 5-17
18 19
20 21 22

Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the Statement of Activities
Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Non-GAAP Budgetary Basis) General Fund

PAGE 23 24

Statement of Fund Net Position Proprietary Funds
Statement of Revenues, Expenses, and Changes in Fund Net Position Proprietary Funds
Statement of Cash Flows - Proprietary Funds
Notes to the Basic Financial Statements
Required Supplementary Information
Schedule of Proportionate Share of Net Pension Liability Teacher Retirement System of Georgia
Schedule of Contributions Teacher Retirement System of Georgia - Last ten years
Notes to Required Supplementary Information - Teachers Retirement System of Georgia
Schedule of Proportionate Share of Net Pension Liability Public School Employee Retirement System of Georgia
Notes to Required Supplementary Information Public School Employee Retirement System of Georgia
Schedule of Proportionate Share of Net OPEB Liability - School OPEB Fund
Schedule of Contributions - School OPEB Fund
Notes to Required Supplementary Information - School OPEB Fund
Combining and Individual Nonmajor Fund Financial Statements and Schedules:
Combining and Individual Nonmajor Fund Statements and Schedules Fund Descriptions
Combining Balance Sheet - Nonmajor Governmental Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Nonmajor Governmental Funds

25 26 27 28-69
70 71 72 73 74 75 76 77
78-80 81-85 86-90

Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual (Non-GAAP Budgetary Basis) Annually Budgeted Nonmajor Governmental Funds Internal Service Funds Fund Descriptions Combining Statement of Fund Net Position - Internal Service Funds Combining Statement of Revenues, Expenses, and Changes in Fund Net Position - Internal Service Funds Combining Statement of Cash Flows - Internal Service Funds Supplementary Schedules: SPLOST IV - Special Purpose Local Option Sales Tax Projects SPLOST V - Special Purpose Local Option Sales Tax Projects SPLOST VI - Special Purpose Local Option Sales Tax Projects
STATISTICAL SECTION (Unaudited) Statistical Section Contents Net Position by Component Last Ten Fiscal Years Changes in Net Position Last Ten Fiscal Years Fund Balances, Governmental Funds Last Ten Fiscal Years Changes in Fund Balances, Governmental Funds
Last Ten Fiscal Years Property Tax Levies and Collections Assessed and Estimated Actual Value of Taxable Property
Last Ten Fiscal Years Direct and Overlapping Property Tax Rates Last Ten Fiscal Years Principal Property Taxpayers December 31, 2023 and Nine Years Ago Legal Debt Margin Information Last Ten Fiscal Years Ratios of Outstanding Debt by Type Last Ten Fiscal Years Ratio of Net General Bonded Debt to Estimated Actual Value and
Net Bonded Debt per Capita Last Ten Fiscal Years

PAGE
91-110 111 112
113 114
115-116 117-118 119-120
121 122 123-124 125-126
127-128 129
130-131 132 133 134 135
136

Computation of Direct and Overlapping General Obligation Debt Cobb County Demographic and Economic Statistics
Last Ten Calendar Years Principal Employers by Sector Current Year and Nine Years Ago Comparison of Metropolitan Atlanta School District Property Tax Rates General Fund Digest History Property Digest Reductions Due to Exemptions Last Ten Fiscal Years Number of Personnel and Pupils to Professional Personnel
Last Ten Fiscal Years
Operating Statistics Last Ten Fiscal Years General Fund Expenditures by Function Last Ten Fiscal Years General Fund Expenditures by Object Last Ten Fiscal Years General Fund Revenues by Source Last Ten Fiscal Years Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Expenditures Last Ten Fiscal Years Results of All Bond and Sales Tax Referendums - 1950- Present Schedule of Insurance in Force School Lunch and Breakfast Program Last Ten Fiscal Years Number of Schools Last Ten Fiscal Years Number of High School Graduates and Average Attendance
Last Ten Fiscal Years Active Enrollment by Grade Level Last Ten Fiscal Years Classroom Buildings, Grade Levels and Acreage

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138 139 140 141 142-143
144
145 146-147 148-149 150-151
152 153 154-155 156 157
158 159 160-161

One Team, One Goal: Student Success

514 Glover Street Marietta, GA 30060 Telephone: (770) 426-3300 www.cobbk12.org

November 25, 2024
To the Members of the Cobb County Board of Education and Citizens of Cobb County, Georgia:
We are pleased to submit to you the annual comprehensive financial report of the Cobb County School District (District) for the fiscal year ended June 30, 2024. This report conforms to generally accepted accounting principles as applicable to governmental entities. The Financial Services Division prepared this report. Responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation, including all disclosures, rests with the District's administration and is presented for your careful review.
We believe the data, as presented, is accurate in all material aspects; that it is presented in a manner designed to fairly set forth the financial position and results of operations of the District as measured by the financial activity of its various funds; and that all disclosures necessary to enable the reader to gain the maximum understanding of the District's financial activity have been included. A comprehensive framework of internal control is in place to give reasonable assurance that the financial statements are free of any material misstatements. Because the cost of internal controls should not exceed anticipated benefits, the objective is to provide reasonable, rather than absolute, assurance that the financial statements are free of any material misstatements.
Readers of this report are encouraged to consider the information presented here in conjunction with additional information presented in the Management's Discussion and Analysis beginning on page five of this report. ______________________________________________________________________________
PROFILE OF THE SCHOOL DISTRICT ______________________________________________________________________________
Cobb County School District is one of two public school districts located in Cobb County, Georgia. The District serves the entire county area with the exception of the City of Marietta, which has its own independent school district. It provides a program of public education from kindergarten through grade twelve. The purpose and responsibility of the District is to provide a thorough and efficient educational system for the children enrolled in public schools within its boundaries whereby each child has access to programs and services that are appropriate to his or her educational needs.
The District is the second largest school system in Georgia and the 23rd largest in the United States with an active daily enrollment of 106,358. The District is governed by a Board of Education consisting of seven members elected from seven county posts. Members serve four-year terms, and each year appoints

BOARD OF EDUCATION SUPERINTENDENT

Randy Scamihorn, Chair David Banks, Vice Chair Becky Sayler Leroy Tre' Hutchins David Chastain Nichelle Davis Brad Wheeler
Chris Ragsdale

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a chairperson and vice-chairperson. The Board appoints a Superintendent to oversee the day-to-day administration of the School District.
Mr. Chris Ragsdale currently serves as the Superintendent of the Cobb County School District. Mr. Ragsdale also previously served as the Deputy Superintendent for Operations and as the Chief Technology Officer. During his tenure with the District, he has managed plant operations, provided oversight for the District's technology integration, and been responsible for planning and execution of capital projects approved by Cobb voters and funded by the Special Purpose Local Option Sales Tax. Mr. Ragsdale holds a Bachelor of Science in Information Systems and a Master's Degree in Educational Leadership, both from Kennesaw State University and is also the recipient of Kennesaw State University's Distinguished Alumni Award. He has more than two decades of experience in school operations and information technology in the public and private sectors, including roles as Chief Information Officer for nearby Paulding County Schools and in network and database management for Bellsouth (AT&T) and IBM.
The District prides itself on providing a quality educational experience to all our students, while efficiently managing our resources. Here are a few of the many accomplishments from the 2024 fiscal year:
The District average score on the SAT of 1,105 was 66 points higher than the state average and 81 points higher than the national average.
The four-year graduation rate for Cobb high schools was 87.9% in 2024. Cobb exceeds the state graduation rate of 85.4% by 2.5 percentage points.
The Cobb County School District has consistently been ranked by Forbes as one of America's "Best-in-State Employers" for six straight years, from 2019 to 2024.
The District has earned the highest possible credit rating from three nationally recognized bond rating agencies: Moody's Investor's Service, Standard & Poor's, and Kroll Credit Rating Agency. Cobb County School District is the only school district in the USA with this distinction.
More details may be obtained through the District's Communications Department.
The District has reviewed its operating entity definition to ensure conformance with the Governmental Accounting Standards Board Statement No. 61, "The Financial Reporting Entity: Omnibus an Amendment of GASB Statements No. 14 and No. 34." This report includes all funds and account groups of the District. The District is not included in any other reporting entity, and no other entities are included within this report.
The District maintains budgetary controls to ensure compliance with legal provisions embodied in the annual appropriated budget approved by the Cobb County Board of Education. Activities of the General Fund and Special Revenue Funds are included in the annual appropriated budget. Capital Projects Funds are budgeted on a multi-year, project-length basis. While General Fund and Special Revenue Fund budgets are reported at the function level within individual funds, the level of budgetary control (that is, the level at which expenditures cannot legally exceed the appropriated amount) is at the fund level. In the event expenditures exceed appropriations in a function area, they must be offset by under-expenditures in other function areas within the same fund.
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____________________________________________________________________________________
ECONOMIC CONDITION AND OUTLOOK ____________________________________________________________________________________
The District is located in the northwest quadrant of the Atlanta metropolitan area. Metropolitan Atlanta is a national center for finance, transportation, distribution, and communications. Cobb County continued its trend of a growing population, which increased from 730,981 in 2015 to 776,743 in 2024. The unemployment rate for 2024 was 3.6%.
Student enrollment in fiscal year 2024 was 106,358, which is consistent with fiscal year 2023 of 106,703. A schedule of District school buildings and their grade levels can be found on pages 160-161.
We are pleased by the positive increase in property values in fiscal year 2024 and expect this trend to continue into fiscal year 2024, thereby providing a stable and growing revenue source. In fiscal year 2024 the District's assessed real property values increased by 15.1% from the prior year. ____________________________________________________________________________________
LONG-TERM FINANCIAL PLANNING ____________________________________________________________________________________
The District anticipates continuing to meet its projected capital improvement needs by means of county special sales tax revenues. The current Ed-SPLOST VI special sales tax will continue to fund capital improvement needs of the District through December 2028. Ed-SPLOST VI will fund the construction of new schools, as well as infrastructure and system improvements for existing schools. Technology upgrades will also be funded through Ed-SPLOST VI.
The District anticipates acquiring a short-term construction loan in the next fiscal year, which will expedite the completion of various construction projects authorized by the current SPLOST VI Special Sales Tax Initiative. The District's exceptional Aaa credit rating, first issued by Moody's in 2015, and most recently reaffirmed in 2023, should qualify the District for a competitive interest rate. Since 2015, the District has also received exceptional credit ratings from two other nationally recognized credit agencies, Standard & Poor's, and Kroll Bond Rating Agency. ____________________________________________________________________________________
OTHER INFORMATION ____________________________________________________________________________________
New Educational Model: The Cobb County School District has now completed its seventh year as a Strategic Waiver School System. This model offers greater ability to develop customized student achievement plans for individual schools.
Independent Audit: The financial statements have been audited by Mauldin & Jenkins, LLC, whose opinion is expressed on page 1. The District complies with the requirements of the Single Audit Act and associated reports and schedules are presented in a separately issued Report of Independent Certified Public Accountants in Accordance with the Uniform Guidance and Government Auditing Standards.
Financial Reporting Awards: Every year since 1980, our comprehensive annual financial report has earned a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA). Additionally, the District's comprehensive
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annual financial report received the Association of School Business Officials' (ASBO) Certificate of Excellence in Financial Reporting every year since 1984. These prestigious awards are made only to government units which publish a comprehensive annual financial report that is easily readable, efficiently organized, and conforming to program standards and satisfies generally accepted accounting principles and applicable legal requirements. The awards are valid for a period of one year only. Budget Presentation Award: The District prepares an official budget document each year which is issued as a separate report. We have received the Meritorious Budget Award from ASBO every year since 2004. The criteria required by ASBO includes an introductory, organizational, financial and information section. We believe the most recent budget continues to conform to program requirements, and we are submitting it to ASBO to determine its eligibility for another award. Acknowledgments: We wish to express our appreciation to Mandy Mattison, Director of Accounting Services, and to the entire staff of the Financial Services Division whose dedicated efforts have enabled this report to be prepared on a timely basis. The active involvement and professional support of Mauldin & Jenkins, LLC Audit Partner, Christopher McKellar, and his auditing staff have been instrumental in the prompt completion of the associated audit of this report. In closing, sincere gratitude is expressed to the Board of Education for their leadership and dedication to the Cobb County School District, its taxpayers, employees, and, most importantly, its students. To the citizens of the Cobb County School District, please accept our gratitude for your support of our successful school district. Respectfully sub
Bradley Reuben Johnson Chief Financial Officer
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Government Finance Officers Association
Certificate of Achievement for Excellence in Financial
Reporting
Presented to
Cobb County School District Georgia
For its Annual Comprehensive Financial Report
For the Fiscal Year Ended June 30, 2023
Executive Director/CEO
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The Certificate of Excellence in Financial Reporting is presented to
Cobb County School District
for its Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2023.
The district report meets the criteria established for ASBO International's Certificate of Excellence in Financial Reporting.

Ryan S. Stechschulte President

James M. Rowan, CAE, SFO CEO/Executive Director
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COBB COUNTY SCHOOL DISTRICT FUNCTION AND COMPOSITION JUNE 30, 2024

All matters relating to education and operations in the Cobb County School District are governed and controlled by the Board of Education as provided by Georgia law. The Board has the responsibility to maintain a uniform system of public schools providing quality education for all young people of Cobb County. With the advice of the superintendent, the Board must determine the policies and prescribe the rules and regulations for the management and administration of the school system.
Generally, the Board holds public meetings once a month to conduct normal business with special sessions as needed. The Board is composed of seven members who are each elected for four years from one of seven geographical districts in the county. The Board elects a chairman and vice-chairman from the seven members to govern the body for a one year period. As of June 30, 2024, the members of the Board and years of expiration of their terms are as follows:

Title Chair Vice-Chair Board Member Board Member Board Member Board Member Board Member

Name Mr. Randy Scamihorn Mr. David Banks Ms, Nichelle Davis Mr. David Chastain Mr. Leroy Tre Hutchins Ms. Becky Sayler Mr. Brad Wheeler

Term Expires December 31, 2024 December 31, 2024 December 31, 2026 December 31, 2026 December 31, 2024 December 31, 2026 December 31, 2024

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COBB COUNTY SCHOOL DISTRICT ELECTED OFFICIALS AND SUPERINTENDENT OF SCHOOLS
JUNE 30, 2024

RANDY SCAMIHORN
POST 1
12 Years Served

BECKY SAYLER
POST 2
2 Year Served

LEROY TRE HUTCHINS
POST 3
4 Years Served

DAVID CHASTAIN
POST 4
10 Years Served

DAVID BANKS
POST 5 16 Years Served

NICHELLE DAVIS BRAD WHEELER CHRIS RAGSDALE

POST 6 2 Year Served

POST 7 12 Years Served

SUPERINTENDENT

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COBB COUNTY SCHOOL DISTRICT
SUPERINTENDENT'S EXECUTIVE CABINET JUNE 30, 2024

Chris Ragsdale Sherri Hill John Floresta Keeli Bowen Dr. Jasmine Kullar Dr. Catherine Mallanda Bradley Reuben Johnson Marc Smith

CCSD Superintendent Chief of Staff Chief Strategy & Accountability Officer Chief Human Resources Officer Chief School Leadership Officer Chief Academic Officer Chief Financial Officer Chief Technology & Operations Officer

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COBB COUNTY SCHOOL DISTRICT ORGANIZATIONAL CHART JUNE 30, 2024
Citizens of Cobb County

Board of Education

Board Attorney

Superintendent Chris Ragsdale

Chief of Staff Sherri Hill

Chief School Leadership Off ice r
Dr. Jasmine Kullar

Chief Human Resources Officer
Keeli Bowen

Chief Financial
Off ice r
Bradley Reuben Johnson

Chief Academic
Off ice r
Dr. Catherine Mallanda

Chief Technology & Operations Off ice r
Marc Smith

Chief Strategy & Accountability
Off ice r
John Floresta

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INDEPENDENT AUDITOR'S REPORT
To the Superintendent and Members of the Cobb County Board of Education
Marietta, Georgia
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of the Cobb County Board of Education as of and for the year ended June 30, 2024, and the related notes to the financial statements, which collectively comprise the Cobb County Board of Education's basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of the Cobb County Board of Education as of June 30, 2024, and the respective changes in financial position, and the budgetary comparison for the General Fund, for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Cobb County Board of Education and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Cobb County Board of Education's ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.
200 GALLERIA PARKWAY S.E., SUITE 1700 ATLANTA, GEORGIA 30339-5946 770-955-8600 FAX 770-980-4489 www.mjcpa.com MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS

Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS and Government Auditing Standards, we:
Exercise professional judgment and maintain professional skepticism throughout the audit. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or
error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Cobb County Board of Education's internal control. Accordingly, no such opinion is expressed. Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Cobb County Board of Education's ability to continue as a going concern for a reasonable period of time. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
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Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Management's Discussion and Analysis, Schedule of Proportionate Share of Net Pension Liability Teacher Retirement System of Georgia, Schedule of Contributions Teacher Retirement System of Georgia, Schedule of Proportionate Share of Net Pension Liability Public School Employee Retirement System of Georgia, Schedule of Proportionate Share of the Net OPEB Liability School OPEB Fund, and the Schedule of Contributions School OPEB Fund, as listed in the table of contents, be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with GAAS, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Cobb County Board of Education's basic financial statements. The combining and individual nonmajor fund financial statements and schedules, the SPLOST IV schedule of expenditures of Special Purpose Local Option Sales Tax Projects, the SPLOST V schedule of expenditures of Special Purpose Local Option Sales Tax Projects, and the SPLOST VI schedule of expenditures of Special Purpose Local Option Sales Tax Projects are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining and individual nonmajor fund financial statements and schedules, the SPLOST IV schedule of expenditures of Special Purpose Local Option Sales Tax Projects, the SPLOST V schedule of expenditures of Special Purpose Local Option Sales Tax Projects, and the SPLOST VI schedule of expenditures of Special Purpose Local Option Sales Tax Projects are fairly stated, in all material respects, in relation to the basic financial statements as a whole.
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Other Information Management is responsible for the other information included in the annual report. The other information comprises the introductory and statistical sections but does not include the basic financial statements and our auditor's report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated November 25, 2024, on our consideration of the Cobb County Board of Education's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Cobb County Board of Education's internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Cobb County Board of Education's internal control over financial reporting and compliance.
Atlanta, Georgia November 25, 2024
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MANAGEMENT'S DISCUSSION
AND ANALYSIS

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2024
The discussion and analysis of the Cobb County School District's (subsequently referred to as the District) financial performance provides an overall review of the District's financial activities for the fiscal year ended June 30, 2024. The intent of this discussion and analysis is to look at the District's financial performance as a whole. Readers should also review the transmittal letter and complete financial statements, with notes, to enhance their understanding of the District's financial performance.
Financial Highlights
Key financial highlights for fiscal year 2024 are as follows:
Total net position decreased from $604.2 million in fiscal year 2023 to $496.4 million in fiscal year 2024, a decrease of $107.8 million, primarily due to decreased deferred outflows of resources related to the District's defined benefit pension plan. More specifically, there was a substantial actuarial downward adjustment between projected and actual earnings from fiscal year 2023 to fiscal year 2024.
Total revenue increased from $1,852.6 million in fiscal year 2023 to $1,955.8 million in fiscal year 2024, an increase of $103.2 million. The revenue increase was primarily from increased property tax revenue, which increased 11.2% or $80.0 million from fiscal year 2023. Local property tax revenue increased substantially due to a significant increase in the property tax digest.
Total expenses increased from $1,780.8 million in fiscal year 2023 to $2,063.6 million in fiscal year 2024, an increase of $282.9 million. The increase in expense was largely due to a salary increase of 7.5% for all permanent employees. Employees also due a step longevity increase could receive as much as a 12.1% salary increase. The salary increase also caused proportional increases in percentage-based employee benefits, such as FICA payroll taxes, TRS retirement, Finally, the employer cost of health insurance for certified employees increased by 25.1% in fiscal year 2024 as the State Health Benefit Plan unexpectedly imposed an employer premium increase of 67.0%, effective January 1, 2024.
Overview of the Financial Statements
This discussion and analysis serves as an introduction to the District's basic financial statements. The basic financial statements comprise three components: 1) District-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves.
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COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2024
Districtwide Financial Statements
The District-wide financial statements provide readers with a broad overview of the District's finances, in a manner similar to a private-sector business.
The Statement of Net Position presents information on all of the District's assets, deferred outflows of resources, liabilities, and deferred inflows of resources with the difference between them reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating.
The Statement of Activities presents information showing how the District's net position changed during the most recent fiscal year. Changes in net position appear as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses appear in this statement for some items that will result in future fiscal period cash flows (e.g., uncollected taxes and earned but unused vacation leave).
Fund Financial Statements
A fund is a grouping of related accounts used to maintain control over resources that have been segregated for specific activities or objectives. The District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with financerelated legal requirements. District funds are in one of two categories: governmental funds and proprietary funds.
Governmental Funds
Most of the District's activities are reported in governmental funds. The governmental fund statements focus on how money flows in and out of those funds and on the balances left at year-end that are available for spending in future periods. These statements also provide a detailed short-term view of the District's general government operations and the basic services it provides. Governmental fund information helps you determine whether there are more or fewer financial resources that can be spent in the near future to finance educational programs. The District maintains numerous governmental funds with the majority of activity occurring in the General Fund.
Proprietary Funds
Proprietary funds are those used to account for ongoing organizations and activities which are similar to those found in the private sector. The District's proprietary funds are internal service funds and report activities that provide supplies and services for its other programs and activities. The District's internal service funds consist of the Unemployment Compensation Fund and the Self-Insurance Fund.
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COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2024 District-wide Financial Analysis The Condensed Statement of Net Position Table (Table I), presented on the following page, summarizes and compares the Statement of Net Position for fiscal year 2023 and fiscal year 2024. In fiscal year 2024, the District's net position decreased 17.8%, or $107.8 million, over the prior year. This was primarily due to an actuarial downward adjustment between projected and actual earnings for the District's pension plan from fiscal year 2023 to fiscal year 2024. Total current and other assets reflected a net increase of 2.9%, or $27.7 million, largely due to an increase in cash and receivables from increased property tax revenue due to a 15.1% increase in the gross real property tax digest. Capital Assets increased by 0.4%, or $6.5 million, which was chiefly attributable to both new construction and capital improvements to local school buildings financed by SPLOST sales taxes. Two newly constructed schools opened in fiscal year 2024, Eastvalley Elementary School and Betty Gray Middle School. Governmental accounting standards require the District to report its proportional liability of state-administered pension plans and now the proportional liability of post-employment benefits, namely retiree health insurance. Reductions in this proportional liability in fiscal year 2024 resulted in a 2.3% decrease in Long-Term Liabilities. An increase in accrued salaries and benefits at year-end was primarily responsible for a 2.4% increase in Other Liabilities.
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COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2024
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COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2024 Changes in Net Position from Operating Results The Changes in Net Position from Operating Results Table (Table II), presented on the following page, summarizes and compares the Statement of Activities for fiscal year 2023 and fiscal year 2024. Revenues In fiscal year 2024, the District's total revenues increased 5.6%, or $103.2 million, over the prior year due primarily to an increase in property tax revenue of $77.8 million.
Charges for services increased by only 1.9% or $1.5 million, primarily due to increased revenue from school meal sales and school activities.
Operating grants and contributions increased by 1.0%, or $7.9 million, largely due to sustained state and federal funding of educational programs.
Capital grants and contributions increased by 52.4%, or $7.8 million, as the District received state and federal capital grant funding for school building improvements and school buses.
Tax revenue increased 8.0%, or $73.2 million, largely due to a 15.1% increase in the gross real property tax digest.
Interest income increased 50.4%, or $11.8 million, due primarily to a continued rise in market interest rates over the previous fiscal year.
Other revenue increased by 27.6%, or $1.0 million. The number of field trips taken by schools continued to increase through prolonged pandemic recovery, resulting in an increase in the District's field trip revenue. Implementation of GASB Statement No. 87 Leases has changed the recognition of cell tower revenue, which affects this category of revenue.
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COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2024
Expenses
In fiscal year 2024, the District's total expenses increased 15.9%, or $282.9 million, due primarily to higher payroll costs resulting from the 7.5% pay raise to all permanent employees, as well as a substantial increase in the employer premium for health insurance for teachers and other certified instructional personnel. Below we discuss the expense categories which experienced an increase.
Instruction increased by 12.2%, or $145.0 million, due primarily to the salary increase and corresponding payroll benefits calculated on employee salaries, such as FICA, Medicare, and the Teachers Retirement pension plan.
Pupil and instructional services increased by 13.3%, or $16.0 million, largely due to the salary increase and the higher costs of providing supplemental instructional services, due to sustained inflationary pressures affecting the cost of purchased goods and services.
School and administrative services increased by 16.8%, or $41.4 million, largely due to the salary increase and the higher costs of equipment and supplies to support the work of administrators.
Student transportation increased by 24.6%, or $18.0 million, largely due to increased fuel prices, as well as the 7.5% salary increase for all permanent employees. Additionally, 59 school buses were purchased at a cost of $5.2 million, with the assistance of State Transportation grant funds.
Maintenance and Operations increased by 49.2%, or $59.0 million, largely due to increased utility costs and increased repair and maintenance costs to maintain the District's many school facilities and equipment. Maintenance personnel salaries and benefits increased because of the 7.5% salary increase for all permanent employees.
Student activities increased by 7.1% or $2.0 million, primarily resulting from the associated costs of providing increased student activities, such as field trips, athletic events, and other after-school programs.
Interest and Fiscal Charges increased by 114.9% or $1.3 million, primarily resulting from higher interest charges on the District's short-term note, which financed the faster completion of SPLOST capital projects in a continued inflationary environment.
10

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2024
11

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2024
Governmental Activities The Net Cost of Governmental Activities Table (Table III) presents the total and net cost of eight major District activities for fiscal year ended June 30, 2024: Instruction, Pupil Services, Instructional Services, School and Administrative Services, Student Transportation, Maintenance and Operations, Student Activities, and Interest and Fiscal Charges.
12

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2024
Net Cost of Services is the total cost less fees generated by the activities and intergovernmental revenue provided for specific programs. The net cost shows the financial burden on the District's taxpayers by each activity. The total cost of governmental services in fiscal year 2024 was $2,063.6 million. Users of the District's programs financed $79.8 million of the costs. Federal and State grants, subsidized programs, and contributions funded $847.1 million of the costs. Lastly, District taxpayers financed the remaining costs of fiscal year 2024, which totaled $1,136.6 million.
The School District's Funds
The District ended fiscal year 2024 with a healthy fund balance in its governmental funds. The combined balance of all governmental funds, at $632.4 million, was 3.1% higher than 2023's ending balance of $613.2 million. The General Fund's fund balance decreased by $15.7 million, or 4.0%, due primarily to increased accrued salaries and benefits at year-end. SPLOST V, the District's primary capital improvement fund, had an ending fund balance of $113.7 million, which was 12.0% lower than 2023's ending balance of $129.2 million, as projects began to wind down and special sale tax revenues stopped after December 2024, the statutory end of the SPLOST V tax referendum. The System Wide/County-Wide Fund increased its fund balance by 67.6% from the prior year, or $0.9 million, primarily from increased interest income, as the Federal Reserve continued to increase the reserve interest rate, to combat historically high inflation. The nonmajor governmental fund balances increased in the aggregate by $49.4 million, or 54.6%.
General Fund Budgetary Highlights
The most significant fund for the District is the General Fund, funded primarily through state revenue and local property tax revenue. The State of Georgia is required to maintain a balanced budget (a constitutional requirement in Georgia), as are all state-funded school districts.
The final amended budget for total revenues was $1.5 billion, which was only 0.9% greater than the original budget. The final amended budget for total expenditures was only 2.3% greater than the original budget, with an amended final expenditure budget of $1.6 billion, with a forecasted decrease in Fund Balance of $110.3 million. Actual revenue exceeded budgeted revenue by $70.5 million, primarily from greater property tax revenue. Actual expenditures were $24.1 million less than budgeted. The net effect of these favorable variances totaled $94.7 million and resulted in a net decrease to actual fund balance of only $15.7 million.
General Fund Balance
The unassigned General Fund balance at June 30, 2024 was $198.4 million. This represents approximately 46 days of general fund expenditures. The Board of Education made a concerted effort to maintain an adequate operating reserve for the District.
13

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2024
Other Governmental Funds
Capital Projects Funds
The District uses Capital Projects Funds to account for school construction and improvement projects which, prior to 1999, were financed primarily through bond issues. SPLOST IV and V focus on revitalizing schools.
The SPLOST IV special sales tax began January 1, 2014, and ended on December 31, 2018. The SPLOST V special sales tax began January 1, 2019, and ended on December 31, 2023. The SPLOST VI special sales tax began January 1, 2024, and will end on December 31, 2028. The SPLOST IV fund had expenditures of $2.4 million and an ending fund balance of $0.4 million. SPLOST V had expenditures of $132.0 million and an ending fund balance of $113.7 million. SPLOST VI had expenditures of $38.3 million and an ending fund balance of $59.5 million. A full listing of SPLOST IV, SPLOST V and SPLOST VI projects can be located on pages 115-121.
The System Wide/County-Wide Fund had transfers out of $1.4 million and an ending fund balance of $2.3 million.
Nonmajor Governmental Funds
The Nonmajor Governmental Funds had aggregate expenditures of $246.8 million and aggregate fund balances of $139.9 million in fiscal year 2024. Within the Nonmajor Governmental Funds, the Funds with the highest expenditures in fiscal year 2024 were School Nutrition at $72.1 million, SPLOST VI at $38.3 million, Local School Funds at $30.2 million, Special Education at $26.3 million, and Title I (of the Elementary and Secondary Education Act) at $24.1 million. Nonmajor Governmental Funds ending the year with the highest fund balances were SPLOST VI at $59.5 million, School Nutrition at $32.5 million, District Building at $23.4 million, Local School Funds at $14.6 million, and After School Program at $3.9 million. The fund balance of Nonmajor Governmental Funds, in aggregate, increased from $90.5 million in fiscal year 2023 to $139.9 million in fiscal year 2024, an increase of $49.4 million. Descriptions of these funds can be found on pages 78-80.
Capital Assets and Debt Administration
Capital Assets
The Capital Assets, Net of Depreciation (Table IV), presented on the following page, summarizes and compares the capital assets for fiscal year 2023 and fiscal year 2024.
14

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2024 Capital assets increased 0.4% from $1,778.0 million in fiscal year 2023 to $1,784.5 million in fiscal year 2024, an increase of $6.5 million. Construction in Progress decreased by $75.3 million, or 59.7%. Intangible Assets decreased by $485 million, or 49.4%. Land increased by $3.5 million, or 2.3%. Buildings and Improvements increased by $84.0 million, or 6.1%. Equipment decreased by $2.6 million, or 2.3%. Lastly, Library and Textbooks decreased by $2.5 million, or 24.1%. More detailed information about capital assets can be found in Note 5 of the Notes to the Basic Financial Statements. Long-Term Obligations As of June 30, 2024, the District had $18.1 million in outstanding long-term obligations for compensated absences, a net pension liability of $1,721.0 million, and other postemployment benefits of $682.5 million. More detailed information about long-term obligations can be found in Notes 10, 11, 14 and 15 of the Notes to the Basic Financial Statements.
15

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2024
16

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2024 Factors Bearing on the District's Future We are fortunate that the Cobb County School District has no issued long-term debt, allowing us to devote our financial resources to providing a quality education for our students. We are also grateful for our citizens' approval of the Ed-SPLOST VI capital financing initiative in November of 2021, with more than 72% of the votes casted affirming the referendum. Ed-SPLOST VI will enable the financing of new schools and provide for needed building improvements to existing schools. Our District remains committed to working as one team for the goal of student success, as we seek to maximize the financial resources entrusted to us. Contacting the District's Financial Management This financial report is designed to provide a general overview of Cobb County School District's finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to Financial Services Division, Cobb County School District, 514 Glover Street, Marietta, Georgia, 30060.
17

COBB COUNTY SCHOOL DISTRICT STATEMENT OF NET POSITION FOR THE YEAR ENDED JUNE 30, 2024
ASSETS: Cash and Cash Equivalents Receivables (net of allowance for uncollectibles):
Taxes Intergovernmental Accounts Lease receivable Prepaids Inventories Capital Assets: Land Construction in Progress Intangibles Buildings and Improvements Equipment Library Books and Textbooks Less: Accumulated Depreciation
Total Assets
DEFERRED OUTFLOWS OF RESOURCES:
Related to Defined Benefit Pension Plans Related to Other Post-Employment Benefits
Total Deferred Outflows of Resources
LIABILITIES: Accounts Payable and Other Current Liabilities Intergovermental Payable Accrued Salaries and Benefits Notes Payable Accrued Interest Payable Unearned Revenue Noncurrent Liabilities:
Claims Payable, Due Within One Year Claims Payable, Due In More Than One Year Compensated Absences, Due Within One Year Compensated Absences, Due In More Than One Year Net Pension Liability, Due In More Than One Year Net Other Post-Employment Benefits (OPEB) Liability, Due In More Than One Year
Total Liabilities
DEFERRED INFLOWS OF RESOURCES:
Leasing Arrangements Related to Defined Benefit Pension Plans Related to Other Post-Employment Benefits
Total Deferred Inflows of Resources
NET POSITION: Net Investment in Capital Assets Restricted for:
Capital Projects School Nutrition Services Miscellaneous Grants GNETS Unrestricted (Deficit)
Total Net Position
See accompanying notes to the basic financial statements.

Governmental Activities

$

799,839,000

30,012,000 139,684,000
114,000 3,577,000
836,000 3,653,000

151,926,000 50,735,000 10,479,000
2,574,852,000 322,499,000 52,957,000
(1,378,908,000) 2,762,255,000

607,564,000 183,769,000 791,333,000
41,143,000 1,063,000 177,933,000 99,575,000 2,050,000 1,208,000
2,491,000 5,400,000 13,777,000 4,320,000 1,721,012,000 682,502,000 2,752,474,000

5,813,000 7,116,000 291,764,000 304,693,000

1,744,928,000

215,458,000

32,457,000

78,000

121,000 (1,496,621,000)

$

496,421,000

18

COBB COUNTY SCHOOL DISTRICT STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2024

Program Revenues

Net (Expense)

Operating

Capital

Revenue

Charges

Grants and

Grants and

and Changes

Expenses

for Services Contributions Contributions

in Net Position

GOVERNMENTAL ACTIVITIES

Instruction

$ 1,336,106,000 $ 1,716,000 $ 733,792,000 $ 10,933,000 $ (589,665,000)

Pupil Services Instructional Services School and Administrative Services

52,979,000 83,735,000 287,831,000

45,987,000

33,624,000 3,642,000 47,368,000

194,000 388,000 11,131,000

(19,161,000) (79,705,000) (183,345,000)

Student Transportation

91,259,000

-

6,119,000

-

(85,140,000)

Maintenance and Operations

178,960,000

1,389,000

-

-

(177,571,000)

Student Activities

30,247,000

30,736,000

-

-

489,000

Interest and Fiscal Charges

2,504,000

-

-

-

(2,504,000)

Total Governmental Activities $ 2,063,621,000 $ 79,828,000 $ 824,545,000 $ 22,646,000 $ (1,136,602,000)

General Revenues: Taxes: Property Taxes Levied for General Purposes Sales Tax Interest Income
Other

$ 794,811,000 194,216,000 35,373,000 4,404,000

Total General Revenues

1,028,804,000

Change in Net Position

(107,798,000)

Net Position - Beginning of Year

604,219,000

Net Position - End of Year

$ 496,421,000

See accompanying notes to the basic financial statements.

19

COBB COUNTY SCHOOL DISTRICT BALANCE SHEET GOVERNMENTAL FUNDS
JUNE 30, 2024

Assets:
Cash and Cash Equivalents Receivables (net of allowance for uncollectables):
Taxes Intergovernmental Accounts Lease Receivable Due from Other Funds Prepaids Inventories Total Assets

General

Special Purpose Local Option Sales Tax V

System Wide/ County-Wide
Building

Nonmajor Governmental
Funds

Total Governmental
Funds

$ 416,046,000 $ 133,273,000 $ 94,259,000 $ 143,864,000 $ 787,442,000

13,614,000

-

-

16,398,000

30,012,000

113,578,000

2,343,000

-

23,763,000

139,684,000

73,000

-

-

41,000

114,000

3,577,000

-

-

-

3,577,000

14,457,000

-

-

48,000

14,505,000

836,000

-

-

-

836,000

841,000

-

-

2,812,000

3,653,000

$ 563,022,000 $ 135,616,000 $ 94,259,000 $ 186,926,000 $ 979,823,000

LIABILITIES,DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES :

Liabilities:

Intergovernmental

$ 1,063,000 $

Accounts Payable

5,705,000

Accrued Payroll and Payroll Withholdings

69,525,000

Notes Payable

-

Accrued Employee Benefits

99,927,000

Accrued Interest Payable

-

Due to Other Funds

38,000

Unearned Revenue

200,000

Total Liabilities

176,458,000

-$

-$

-$

1,063,000

21,915,000

-

13,401,000

41,021,000

-

-

5,611,000

75,136,000

-

91,990,000

7,585,000

99,575,000

-

-

2,870,000

102,797,000

-

-

2,050,000

2,050,000

-

-

14,467,000

14,505,000

-

-

1,008,000

1,208,000

21,915,000

91,990,000

46,992,000

337,355,000

Deferred Inflows of Resources : Leasing Arrangements Unavailable Revenue - Property Taxes Total Deferred Inflows of Resources

5,813,000 4,279,000
10,092,000

-

-

-

5,813,000

-

-

-

4,279,000

-

-

-

10,092,000

Fund Balances:
Nonspendable Restricted Committed Assigned Unassigned
Total Fund Balances Total Liabilities, Deferred Inflows of Resources, and Fund Balances

1,677,000

-

-

2,812,000

4,489,000

-

113,701,000

2,269,000

89,720,000

205,690,000

-

-

-

23,962,000

23,962,000

176,438,000

-

-

23,440,000

199,878,000

198,357,000

-

-

-

198,357,000

376,472,000

113,701,000

2,269,000

139,934,000

632,376,000

$ 563,022,000 $ 135,616,000 $ 94,259,000 $ 186,926,000 $ 979,823,000

See accompanying notes to the basic financial statements.
20

COBB COUNTY SCHOOL DISTRICT RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET TO THE STATEMENT OF NET POSITION FOR THE YEAR ENDED JUNE 30, 2024
Total Fund Balances-Governmental Funds
Amounts reported for governmental activities in the statement of net position are different because:
Capital assets used in governmental activities are not current financial resources and therefore are not reported in the funds.
Cost of capital assets Accumulated depreciation
The deferred outflows of resources, deferred inflows of resources, and the net pension liability related to the District's pension plan are not due and payable with current financial resources and therefore are not reported in the funds.
Net Pension Liability Deferred Outflows of Resources - Pension Related Items Deferred Inflows of Resources - Pension Related Items
The deferred outflows of resources, deferred inflows of resources, and the net OPEB liability related to the District's OPEB plan are not due and payable with current financial resources and therefore are not reported in the funds.
Net Other Post-Employment Benefits Liability (OPEB) Deferred Outflows of Resources - OPEB Deferred Inflows of Resources - OPEB
Other long-term assets are not available to pay for current period's expenditures and therefore are unavailable in the funds.
Property Taxes
Internal service funds are used by management to charge the costs of insurance. The assets and liabilities of the internal service funds are included in governmental activities in the statement of net position.
Long-term liabilities are not due and payable in the current period and therefore are not reported as liabilities in the funds. Long-term liabilities at year-end consist of:
Compensated absences
Total Net Position-Governmental Activities

$ 632,376,000

$ 3,163,448,000 (1,378,908,000)

1,784,540,000

(1,721,012,000) 607,564,000 (7,116,000)

(1,120,564,000)

(682,502,000) 183,769,000 (291,764,000)

(790,497,000)

4,279,000

4,384,000

(18,097,000) $ 496,421,000

See accompanying notes to the basic financial statements.
21

COBB COUNTY SCHOOL DISTRICT
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS FOR THE YEAR ENDED June 30, 2024

REVENUES: Taxes Intergovernmental Tuition and Fees Interest Income Rentals Athletic Ticket Sales Other
Total Revenues
EXPENDITURES: Current:
Instruction Pupil Services Instructional Services School and Administrative Services Student Transportation Maintenance and Operations Student Activities Capital Outlay Debt Service: Interest and Fiscal Charges
Total Expenditures
Excess/(Deficiency) of Revenues Over Expenditures
Other Financing Sources (Uses): Transfers-In Transfers-Out Proceeds from Sale of Capital Assets Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances, Beginning of Year
Fund Balances, End of Year

General

Special Purpose Local Option Sales Tax V

System Wide/ CountyWide

Nonmajor Governmental
Funds

Total Governmental
Funds

$

792,802,000 $

98,202,000 $

698,869,000

6,849,000

-

-

29,958,000

10,070,000

43,000

-

-

-

4,672,000

-

1,526,344,000

115,121,000

-$ 2,360,000 2,360,000

96,014,000 $ 130,744,000 65,379,000
3,728,000 -
3,277,000 1,078,000 300,220,000

987,018,000 836,462,000 65,379,000 46,116,000
43,000 3,277,000 5,750,000 1,944,045,000

1,086,346,000 40,199,000 56,222,000
172,400,000 83,496,000 107,712,000
-
1,546,375,000

119,000 2,327,000 128,479,000
1,100,000 132,025,000

-

51,869,000

-

7,083,000

-

20,778,000

-

85,090,000

-

2,631,000

-

2,015,000

-

30,247,000

-

45,667,000

-

1,404,000

-

246,784,000

1,138,215,000 47,282,000 77,000,000
257,609,000 88,454,000 109,727,000 30,247,000 174,146,000
2,504,000 1,925,184,000

(20,031,000)

(16,904,000)

2,360,000

53,436,000

18,861,000

5,358,000 (1,279,000)
270,000 4,349,000

1,445,000
1,445,000

(1,445,000)
(1,445,000)

2,852,000 (6,931,000)
75,000 (4,004,000)

9,655,000 (9,655,000)
345,000 345,000

(15,682,000)

(15,459,000)

915,000

49,432,000

19,206,000

392,154,000

129,160,000

1,354,000

90,502,000

613,170,000

$

376,472,000 $

113,701,000 $

2,269,000 $

139,934,000 $

632,376,000

See accompanying notes to the basic financial statements.

22

COBB COUNTY SCHOOL DISTRICT RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TO THE STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2024
Total Net Change in Fund Balances-Governmental Funds
Amounts reported for governmental activities in the statement of activities are different because:
Capital assets are reported as expenditures in governmental funds. However, in the statement of activities, the cost of capital assets is allocated over their estimated useful lives as depreciation expense. In the current period, these amounts are: Capital outlay Depreciation expense
In the governmental funds, current year expenditures related to pensions are comprised solely of amounts contributed to the plan for the current year. However, in the statement of activities, expenses related to pensions include amounts that do not require the use of current financial resources. This amount represents the difference in the required accounting treatment of pensions and related items.
In the governmental funds, current year expenditures related to OPEB are comprised solely of amounts contributed to the plan for the current year. However, in the statement of activities, expenses related to OPEB include amounts that do not require the use of current financial resources. This amount represents the difference in the required accounting treatment of OPEB and related items.
Revenues in the statement of activities that do not provide current financial resources are considered as unavailable revenues in the governmental funds. Property taxes
The net effect of various miscellaneous transactions involving capital assets (i.e., sales and disposals) is to decrease net position.
Internal service funds are used by management to charge the costs of insurance to individual funds. The net expenses of the internal service funds is reported with governmental activities.
Some items reported in the statement of activities do not require the use of current financial resources and therefore are not reported as expenditures in governmental funds. This activity consists of the increase in compensated absences.
Change in Net Position of Governmental Activities

$ 19,206,000

$

107,002,000

(97,751,000)

9,251,000

(178,047,000)

45,259,000 2,009,000 (2,717,000) (1,609,000) (1,150,000)
$ (107,798,000)

See accompanying notes to the basic financial statements.

23

COBB COUNTY SCHOOL DISTRICT
GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: Local State Federal Other
Total Revenues
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services Instructional Staff Training Educational Media Services General Administration School Administration Business Services Maintenance and Operation of Plant Student Transportation Central Operations Other Support Services School Nutrition Program Community Service Operations Transfers
Total Expenditures
Net Change in Fund Balance
Fund Balance, Beginning of Year
Fund Balance, End of Year

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$ 800,701,000 $ 793,041,000 $ 827,475,000 $ 34,434,000

638,000,000

658,149,000

684,794,000

26,645,000

9,514,000

9,514,000

14,075,000

4,561,000

723,000

723,000

5,628,000

4,905,000

1,448,938,000

1,461,427,000

1,531,972,000

70,545,000

1,108,856,000 38,770,000 32,471,000 24,630,000 15,593,000 94,913,000 12,290,000 92,978,000 70,603,000 42,420,000 668,000 564,000 1,279,000
1,536,035,000

1,097,948,000 40,266,000 35,000,000 71,000 24,630,000 19,086,000 101,722,000 14,452,000 107,968,000 83,666,000 42,835,000 776,000 1,340,000 567,000 1,441,000
1,571,768,000

1,086,346,000 40,199,000 33,550,000 67,000 22,604,000 18,720,000 101,624,000 11,517,000 107,712,000 83,496,000 38,073,000 686,000 1,312,000 469,000 1,279,000
1,547,654,000

11,602,000 67,000
1,450,000 4,000
2,026,000 366,000 98,000
2,935,000 256,000 170,000
4,762,000 90,000 28,000 98,000
162,000
24,114,000

(87,097,000) 392,154,000

(110,341,000) 392,154,000

(15,682,000) 392,154,000

94,659,000 -

$ 305,057,000 $ 281,813,000 $ 376,472,000 $ 94,659,000

See accompanying notes to the basic financial statements.

24

COBB COUNTY SCHOOL DISTRICT STATEMENT OF FUND NET POSITION PROPRIETARY FUNDS FOR THE YEAR ENDED JUNE 30, 2024
Assets: Current Assets:
Cash and Cash Equivalents Total Current Assets
Liabilities: Current Liabilities:
Accounts Payable Claims Payable, due within one year
Total Current Liabilities Noncurrent Liabilities:
Claims payable, due in more than one year Total Liabilities
Net Position: Unrestricted
See accompanying notes to the basic financial statements.

Governmental Activities Internal Service Funds
$ 12,397,000 12,397,000
122,000 2,491,000 2,613,000 5,400,000 8,013,000
$ 4,384,000

25

COBB COUNTY SCHOOL DISTRICT STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITION PROPRIETARY FUNDS FOR THE YEAR ENDED JUNE 30, 2024

OPERATING REVENUES: Charges for Services
Total Operating Revenues
OPERATING EXPENSES: School and Administrative Services
Total Operating Expenses
Change in Net Position
Total Net Position, Beginning of Year
Total Net Position, End of Year

Governmental Activities
Internal Service Funds

$

9,783,000

9,783,000

11,392,000 11,392,000

(1,609,000) 5,993,000

$

4,384,000

See accompanying notes to the basic financial statements.

26

COBB COUNTY SCHOOL DISTRICT STATEMENT OF CASH FLOWS PROPRIETARY FUNDS FOR THE YEAR ENDED JUNE 30, 2024
Cash Flows from Operating Activities: Receipts from Interfund Services Provided Payments to Suppliers Payments for Medical Fees and Insurance Claims Payments to Employees Net Cash Used in Operating Activities
Net Change in Cash and Cash Equivalents Cash and Cash Equivalents at Beginning of Year Cash and Cash Equivalents at End of Year Reconciliation of Operating Loss to Net Cash Used in Operating Activities:
Operating Loss Adjustments to Reconcile Operating
Loss to Net Cash Used in Operating Activities:
Increase in Claims Payable Decrease in Accounts Payable Decrease in Accrued Payroll and Payroll Withholdings
Total Adjustments Net Cash Used in Operating Activities
See accompanying notes to the basic financial statements.

Governmental Activities Internal Service Funds
$ 9,781,000 (1,188,000) (9,607,000) (591,000) (1,605,000)
(1,605,000) 14,002,000 12,397,000
$ (1,609,000)
55,000 (48,000) (3,000)
4,000
$ (1,605,000)

27

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Reporting Entity
The Cobb County School District (District) was established under the laws of the State of Georgia and operates under the guidance of a school board elected by the voters of Cobb County and has a superintendent appointed by the Board. The Board is organized as a separate legal entity and has the power to levy taxes and issue bonds. Its budget is not subject to approval by any other entity. Accordingly, the District is a primary government and consists of all the organizations that compose its legal entity.
A financial reporting entity consists of a primary government and its component units. A component unit is a legally separate entity that must be included in the reporting entity of a primary government in conformity with generally accepted accounting principles. Based on the guidance of the Governmental Accounting Standards Board (GASB) Statements No. 14 and No. 61, there are no component units combined with the District for financial statement presentation purposes, and the District is not included in any other governmental reporting entity.
B. Basis of Presentation
The District's basic financial statements are collectively comprised of the District-wide financial statements, fund financial statements and the notes to the basic financial statements of the Cobb County School District.
District-wide Statements
The Statement of Net Position and the Statement of Activities display information about the financial activities of the overall District. Eliminations have been made to minimize the double counting of internal activities. Governmental activities generally are financed through taxes, intergovernmental revenues, and non-exchange transactions.
The Statement of Activities presents a comparison between direct expenses and program revenues for each function of the District's governmental activities.
Direct expenses are those that are specifically associated with a program or function and, therefore, are clearly identifiable to a particular function. Indirect expenses (expenses of the District related to the administration and support of the District's programs, such as office and maintenance personnel and accounting) are not allocated to programs, except for federal indirect costs allocated to federal grant programs.
28

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Program revenues include charges paid by the recipients of goods or services offered by the programs as well as grants and contributions that are restricted to meeting the operational or capital requirements of a particular program. Revenues that are not classified as program revenues, including all taxes, are presented as general revenues.
Fund Financial Statements
The fund financial statements provide information about the District's funds. Separate statements for each category (governmental and proprietary) are presented. The emphasis of fund financial statements is on major governmental funds, each displayed in a separate column. All remaining governmental funds are aggregated and reported as nonmajor funds.
The District reports the following major governmental funds:
General Fund is the District's primary operating fund. It accounts for all financial resources of the District, except those resources required to be accounted for in another fund.
Special Purpose Local Option Sales Tax V Fund (SPLOST V) accounts for salestax proceeds required to be used for capital outlay for educational purposes as authorized by local referendum.
System Wide/Countywide Building Fund accounts for the proceeds of short-term construction notes used for temporarily financing capital outlay in the SPLOST V fund.
Additionally, the District reports the following fund types:
Special revenue funds account for restricted or committed specific revenues and their related expenditures. Special revenues for the District include various federal and state grants, donations to the District, rental of District facilities, charges for after-school programs, adult high school, and performing arts.
Capital project funds account for restricted and assigned revenues and related capital expenditures. The expenditures are used for capital outlays for educational purposes as authorized by local referendum and management's decision.
Internal service funds (proprietary funds) account for insurance and unemployment compensation provided to other funds of the District on a cost reimbursement basis.
29

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
C. Basis of Accounting/Measurement Focus
The basis of accounting determines when transactions are reported on the financial statements. The District-wide governmental activities and proprietary fund financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place.
Nonexchange transactions, in which the District gives (or receives) value without directly receiving (or giving) equal value in exchange, include property taxes, sales taxes, grants and donations. On an accrual basis, revenue from property taxes is recognized in the fiscal year for which the taxes are levied. Revenue from sales taxes is recognized in the fiscal year in which the underlying transaction (sale) takes place. Revenue from grants and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied.
The District uses funds to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts.
Governmental funds are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Under this method, revenues are recognized when measurable and available. The District considers all non-grant revenues reported in the governmental funds to be available if they are collected within 60 days after year-end. The District considers all intergovernmental revenues to be available if they are collected within 120 days after year-end. Property taxes, sales taxes, intergovernmental and interest are considered to be subject to accrual. Expenditures are recorded when the related fund liability is incurred, except for principal and interest on general long-term debt, claims and judgments, and compensated absences, which are recognized as expenditures to the extent they have matured. Capital asset acquisitions are reported as expenditures in governmental funds. Proceeds of general long-term liabilities and acquisitions under leases are reported as other financing sources.
30

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
The State of Georgia reimburses the District for teachers' salaries and operating costs through the Quality Basic Education (QBE) Formula Earnings program. State of Georgia law defines the formula driven grant that determines the cost of an academic school year and the State of Georgia's share in this cost. Generally, teachers are contracted for the school year (July 1 June 30) and paid over a twelve-month contract period, generally August 1 through July 31. In accordance with the requirements of the enabling legislation of the QBE program, the State of Georgia reimburses the District over the same twelvemonth period in which teachers are paid, funding the academic school year expenditures. At June 30, the amount of teachers' salaries incurred but not paid until July of the subsequent year are accrued as the State of Georgia has only postponed the final payment of their share of the cost until the subsequent appropriations for cash management purposes. By June 30 of each year, the State of Georgia has a signed appropriation that includes this final amount, which represents the State of Georgia's intent to fund this final payment. Based on guidance in Government Accounting Standards Board (GASB) Statement No. 33, paragraph 74, the State of Georgia recognizes its QBE liability for the July and August salaries at June 30, and the District recognizes the same QBE as a receivable and revenue, consistent with symmetrical recognition.
Under the terms of grant agreements, the District funds certain programs by a combination of specific cost-reimbursement grants, categorical grants, and general revenues. Thus, when program costs are incurred, there are both restricted and unrestricted net position available to finance the program. It is the District's policy to first apply grant resources to such programs, followed by cost-reimbursement grants, then general revenues.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses result from providing services. Operating revenues in the internal service funds are charges to customers for services. Operating expenses for internal service funds consist of the cost of services and administrative expenses. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses.
D. Cash and Cash Equivalents
The District's cash and cash equivalents are considered to be cash on-hand, demand deposits and short-term investments with original maturities of three months or less from the date of acquisition in authorized financial institutions. Georgia Law OCGA 45-8-14 authorizes the District to deposit its funds in one or more solvent banks or insured Federal savings and loans associations.
31

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) E. Investments Included in cash equivalents are items such as deposits with the Georgia local government investment pool and bank money market accounts. Investments made by the District in nonparticipating interest-earning contracts (such as certificates of deposit) and repurchase agreements are reported at cost. Both participating interest-earning contracts and money market investments with a maturity at purchase greater than one year are reported at fair value. Investment income is reported in the fund containing the invested assets which generated the income. The Official Code of Georgia Annotated Section 36-83-4 authorizes the District to invest its funds. In selecting among options for investment or among institutional bids for deposits, the highest rate of return shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following:
(1) Obligations issued by the State of Georgia or by other States, (2) Obligations issued by the United States government, (3) Obligations fully insured or guaranteed by the United States government or a
United States government agency, (4) Obligations of any corporation of the United States government, (5) Prime banker's acceptances, (6) The Local Government Investment Pool administered by the State Treasurer of the
State of Georgia. (7) Repurchase agreements, and, (8) Obligations of other political subdivisions of the State of Georgia.
32

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
F. Receivables
Receivables consist of amounts due from property and sales taxes, grant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Intergovernmental and Taxes Receivables at June 30, 2024, were as follows:

Taxes Receivables Allowances Net Taxes Receivables

General Fund
$ 15,848,000 (2,234,000)
$ 13,614,000

Special Purpose Local Option Sales Tax VI $ 16,398,000 $ 16,398,000

Total
$ 32,246,000 (2,234,000)
$ 30,012,000

Federal Receivables State / Local Receivables Intergovernmental Receivables

General Fund

$

-

113,578,000

$ 113,578,000

Special Purpose

Local Option

Sales Tax V

$

-

2,343,000

$ 2,343,000

Nonmajor Governmental
$ 23,253,000 510,000
$ 23,763,000

Total
$ 23,253,000 116,431,000
$ 139,684,000

Accounts Receivable

General

Nonmajor

Total

Fund

Governmental

$

73,000 $

41,000 $

114,000

33

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024

Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

G. Leases

In fiscal year 2022, the School District adopted Governmental Accounting Standards Board (GASB) Statement No. 87, Leases. The primary objective of this statement is to better meet the information needs of financial statement users by improving accounting and financial reporting for leases by governments. This Statement increases the usefulness of a government's financial statements by requiring recognition of certain lease assets and liabilities for leases that previously were classified as operating leases and recognized as inflows of resources or outflows of resources based on the payment provisions of the contract. It establishes a single model for lease accounting based on the foundational principle that leases are financings of the right to use an underlying asset.

Since 1996 and later, the School District, as lessor, has entered into agreements with various communication companies for leasing parcels of land located at 36 various school sites. These agreements are renewable for 5 years terms for a total of $ 3,577,394 payable to the School District by fiscal year 2043. The amortized revenue recorded in fiscal year 2024 was $1,326,042 and the remaining deferred inflow of resources was $5,812,991.

H. Property Taxes

The Cobb County Board of Commissioners fixed the property tax levy for the 2023 tax digest year (calendar year) in July 2023 (levy date) based on property values as of January 1, 2022. Taxes were due on October 15, 2023 (lien date). Taxes collected within the current fiscal year or within 60 days after year-end on the 2023 tax digest are reported as revenue in the governmental funds for fiscal year 2024. The Cobb County Tax Commissioner bills and collects the property taxes for the School District, withholds 1.6% of taxes collected as a fee for tax collection and remits the balance of taxes collected to the District. Property tax revenues during the fiscal year ended June 30, 2024, totaled $792,802,000.

School tax by law cannot be greater than 20 mills per dollar for the support and maintenance of education. Tax millage rates levied for the 2023 tax year (calendar year) for the Cobb County School District were as follows (a mill equals $1 per thousand dollars of assessed value):

School Operations

18.70 mills

I. Sales Taxes

A one percent Special Purpose Local Option Sales Tax is to be used for capital outlay for educational purposes and debt service. The State will terminate collection of this tax once an additional $798,285,913 has been collected or on December 31, 2028, whichever occurs first.

34

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
J. Tax Abatements
Cobb County, through the Development Authority of Cobb County, allows for taxable revenue bond financing, pursuant to the Georgia Development Authorities Law, under Title 36 Chapter 62 of the Official Code of Georgia, in order to promote the creation of jobs and stimulate development activity within Cobb County. The taxable revenue bond financings result in the reduction of ad valorem (real and/or personal property) taxes.
The County offers a reduction in property taxes through the structure of these financing arrangements. Specifically, the Development Authority of Cobb County, a tax-exempt public organization created independently from the County, may enter into agreements with private individuals or entities in order to incentivize these businesses to build, relocate, expand, or renovate in Cobb County. The agreements involve a bond issuance and saleleaseback transaction, whereby the Development Authority takes title to property and leases it back to the company. The business or individual is responsible for making ad valorem tax payments on its leasehold interest. The rental payments for the leasehold offset the debt service on the bonds over a fixed 10-year term, so that at the end of the incentive period, the bonds are fully retired, and the company regains title of the property through an option to purchase.
The Development Authority considers the fiscal impacts of a proposed project and weighs such benefits against the costs of reduced revenue impacts when considering whether to enter into a taxable revenue-bond deal with an individual or entity. Generally, eligible projects involve a commitment of significant capital investment and/or the creation of net new jobs to the County, which propose a favorable return on investment for the County. There are no additional commitments other than to provide favorable tax treatment. There are provisions for recapturing some portion of the value of these incentives in the event capital investment and job creation numbers are not met during the incentive period; however, the Development Authority can immediately return title to a company for a nonperforming project, which cancels the incentive going forward. There are no amounts receivable from other governments.
35

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024

Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

For the fiscal year ended June 30, 2024, the tax abatement programs noted above abated property taxes due to the School District that were levied on January 1, 2023, and due on October 15, 2023, totaling $3,852,700. The following are the individual tax abatements that were abated:

Tax Abatement Project Home Depot USA Home Depot - RP Highwoods Realty Limited Partnership Genuine Parts Akers 75 ETPC Aviation, LLC RaceTrac Petroleum Greenstone/HD Supply HQ HD Supply Empire Distributors, Inc Home Depot USA - Pennant Park INOP Acquisitions Floor & Dcor Outlets of America, Inc Edison Chastain Thyssenkrupp Papa Johns Home Depot - Paces Summit Kroger PME - Oakmont Lake Careca, LLC Lockheed Martin Corporation

% Abated Amount of Taxes Abated

80 $

82,033

70

113,229

70

280,500

70

118,469

60

173,983

60

73,472

60

12,706

50

287,232

50

27,132

40

341,696

40

13,871

40

183,260

40

53,190

30

209,440

20

1,096,412

20

21,779

10

154,383

10

89,741

10

228,653

10

291,519

K. Inventories
On the District-wide financial statements, inventories of donated food commodities used in the preparation of meals are reported at their Federally assigned value and purchased foods inventories are reported at cost (first in, first out). The District uses the consumption method to account for inventories; whereby; donated food commodities are recorded as an asset and as revenue when received, and expenses are recorded as the inventory items are used. Purchased foods are recorded as an asset when purchased and expenses are recorded as the inventory items are used.
On the fund statements, inventories of governmental funds are reported at cost (first in, firstout). The District uses the consumption method to account for inventories whereby expenditures are recorded when inventory items are used.

36

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
L. Prepaid Items
Payments made to vendors for services that will benefit periods subsequent to June 30, 2024, are recorded as prepaid, according to the consumption method.

M. Capital Assets

Capital assets purchased, including capital outlay costs, are recorded as expenditures in the fund financial statements at the time of purchase. On the District-wide financial statements, all purchased capital assets are valued at cost where historical records are available and at estimated historical cost based on appraisals or deflated current replacement cost where no historical records exist. Donated capital assets are recorded at estimated acquisition value on the date donated. Disposals are deleted at depreciated recorded cost. The cost of normal maintenance and repairs that do not add to the value of assets or materially extend the useful lives of the assets is not capitalized. Depreciation and amortization is computed using the straight-line method.

Capitalization thresholds and estimated useful lives of capital assets reported in the District-

wide statements are as follows:

General

Useful

Policy

Life

Land

All

N/A

Buildings and Improvements

$50,000

20 to 50 Years

Equipment

$10,000

5 to 10 Years

Intangible Assets

$1,000,000

10 Years

Library Books and Textbooks

All

5 Years

Subscription Based Infromation Technology Arrangements $1,000,000

various

Depreciation and amortization expense is used to allocate the actual or estimated historical cost of all capital assets over estimated useful lives.

N. Deferred Outflows/Inflows of Resources
Deferred outflows of resources represent a consumption of net assets that applies to a future period(s) and will not be recognized as an outflow of resources (expenses/ expenditures) until then.

37

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Deferred inflows of resources represent an acquisition of net assets that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. Other than leasing arrangements, pensions, and OPEB (described in Note 1.N, Note 1.O, Note 14 and Note 15), Cobb County School District measures unavailable revenue, which arises under a modified accrual basis of accounting and qualifies for reporting in this category. Accordingly, unavailable revenue is reported only in the governmental funds balance sheet.
Governmental funds report unavailable revenues from one source: property taxes. These amounts are deferred and recognized as inflows of resources in the period that the amounts become available.
The District reports a deferred outflow of resources for employer contributions made to the pension and OPEB plans subsequent to the measurement date, as these will be recognized as a reduction to the District's net pension liability and net OPEB liability in the year ended June 30, 2024. The District also reports deferred outflows of resources and deferred inflows of resources for experience gains or losses, assumption changes, and for the change in the District's proportionate share based on actual contributions towards the pension and OPEB plans, which are amortized into pension and OPEB expense over the expected remaining service lives of plan members. Finally, the District reports deferred outflows of resources and deferred inflows of resources for the net difference between projected and actual earnings on pension and OPEB investments. These items will be amortized against pension and OPEB expense over a five-year period.
O. Pensions
For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the Teachers Retirement System of Georgia (TRS) and additions to/deductions from TRS's fiduciary net position have been determined on the same basis as they are reported by TRS. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.
For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the Public School Employees Retirement System (PSERS) and additions to/deductions from PSERS's fiduciary net position have been determined on the same basis as they are reported by PSERS. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.
38

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
P. Other Postemployment Benefits (OPEB)
For purposes of measuring the net OPEB liability (asset), deferred outflows of resources and deferred inflows of resources related to OPEB and OPEB expense, information about the fiduciary net position of the Georgia School Employees Postemployment Benefit Fund (School OPEB Fund) and additions to/deductions from the School OPEB Fund's fiduciary net position have been determined on the same basis as they are reported by the School OPEB Fund. For this purpose, benefit payments are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.
Q. Net Position
The School District's net position in the District-wide Statements are classified as follows:
Net investment in capital assets This represents the School District's total investment in capital assets, net of outstanding debt obligations, as applicable, related to those capital assets. To the extent debt has been incurred but not yet expended for capital assets, such amounts are not included as a component of net investment in capital assets.
Restricted net position These amounts represent resources for which the School District is legally or contractually obligated to spend resources for capital projects and support of Federal Programs in accordance with restrictions imposed by external third parties.
Unrestricted net position Unrestricted net position represents resources derived from property taxes, sales, taxes, grants and contributions not restricted to specific programs, charges for services, and miscellaneous revenues. These resources are used for transactions relating to the educational and general operations of the School District, and may be used at the discretion of its Board to meet current expenses for those purposes.
R. Fund Balance
Fund equity at the governmental fund financial reporting level is classified as "fund balance". Fund equity for all other reporting is classified as "net position".
Generally, fund balance represents the difference between the assets, liabilities, and deferred inflows of resources under the current financial resources measurement focus of accounting. In the fund financial statements, governmental funds report fund balance classifications that comprise a hierarchy based primarily on the extent to which the District is bound to honor constraints on the specific purposes for which amounts in those funds can be spent. The District's fund balances per Cobb County School District Board Policy DI, Accounting and Reporting, are classified as follows:
39

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024

Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
1) Non-spendable Fund Balance - Non-cash assets such as inventories or prepaid items.
2) Restricted Fund Balance - Funds with limitations imposed on their use by external restrictions imposed by creditors, grantors, or laws or regulations of other governments.
3) Committed Fund Balance - Amounts that must be used for specific purposes pursuant to a formal action of the Board of Education through a majority vote by June 30. Only the Board may modify or rescind the commitment, through resolution by the Board of Education.
4) Assigned Fund Balance - Amounts that are intended by the Board of Education for specific purposes, but are neither restricted nor committed. The Board of Education can choose to delegate this authority. The Board and the Chief Financial Officer have the authority to assign fund balances.
5) Unassigned Fund Balance - Residual spendable fund balance after subtracting all above amounts. Positive unassigned values are only reported in the General Fund.
Committed Fund Balances The Board of Education, as the government's highest level of decision-making authority, may commit fund balance by a formal majority vote prior to the District's fiscal year-end. Likewise, future modification or rescission of committed funds must be accomplished by a formal majority vote of the Board of Education prior to fiscal year-end. Pursuant to the requirements of GASB Statement No. 54, the Board of Education, on June 8, 2011, committed substantially all of the revenue received by the following Special Revenue funds to be used exclusively for each respective program's expenditures.

Special Revenue Fund Donations
Venue Management
After School Program
Performing Arts / Art Career and Cultural
Tuition School / Adult High School Local Schools

Revenue Source
Donations by individuals or organizations to benefit school programs.
User rental fees and management of District events.
Funds earned or donated at local schools used by local principals to benefit students
and faculty subject to District policy.
Voluntary student contributions to fund Performing Arts Programs and donations to
fund artist workshops at local schools.
User tuition charges and GED fees.
Funds earned or donated at local schools used by local principals to benefit students
and faculty subject to District policy.

40

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Assigned Fund Balances The District's Board of Education, through resolution, delegates to the Superintendent, through the Chief Financial Officer, the authority to assign funds for particular purposes. Spending Prioritization When expenditures are incurred by the District that would qualify for payment with either restricted or unrestricted funds, they will be paid from restricted funds. When an expenditure is incurred that qualifies for payment from either of the three unrestricted fund balance categories, it will be applied in the following order:
1) Committed 2) Assigned 3) Unassigned Minimum Unassigned General Fund Balance The Board of Education will strive to maintain a minimum unassigned general fund balance, less encumbrances, equivalent to a range of 30 to 55 days of annual expenditures unless this is unfeasible due to circumstances beyond its control such as: a) A substantial decrease in the county property tax digest b) A substantial decrease in State funding c) An unanticipated fiscal necessity
Remainder of Page Intentionally Left Blank
41

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024

Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Schedule of Fund Balances

Fund Balances:

General Fund

Nonspendable: Inventory Prepaids

$ 841,000 836,000

Restricted for: Capital Projects School Nutrition Miscellaneous Grants GNETS

Committed to: Donations for the Benefit of School Programs Venue Management and Public Safety Programs Performing Arts and Art Career and Cultural Tuition School / Adult High School After School Program Local School Activities

Assigned to: Appropriation for Next Year's Budget Instruction Instructional Services School and Administrative Services Maintenance and Operations Districtwide

58,839,000 108,201,000
2,557,000 6,276,000
566,000

Unassigned:

198,356,000

Total Fund Balance

$ 376,472,000

Special Purpose Local Option Sales Tax V

System Wide/ Countywide

$ 113,701,000 $ 2,269,000

$ 113,701,000 $ 2,269,000

Nonmajor Governmental
Funds
$ 2,812,000
59,876,000 29,645,000
78,000 121,000
853,000 984,000 611,000 2,994,000 3,931,000 14,589,000
23,440,000
$ 139,934,000

Total
$ 3,653,000 836,000
175,846,000 29,645,000
78,000 121,000
853,000 984,000 611,000 2,994,000 3,931,000 14,589,000
58,839,000 108,201,000
2,557,000 6,276,000
566,000 23,440,000
198,356,000
$ 632,376,000

Note 2. LEGAL COMPLIANCE BUDGETS
The Board of Education budgets its operations on an annual basis for the General Fund and for all Special Revenue Funds except the Local Schools Fund. Capital Projects Funds are budgeted on a multi-year, project-length basis. Prior to July 1 each year, the administration of the District submits a proposed budget to the Board of Education, which conducts public hearings and legally adopts the budget. The administration then submits the adopted budget to the Georgia Department of Education for final approval.
The District prepares its annual budget using the budgetary basis of accounting, which differs from generally accepted accounting principles in the United States of America (GAAP) as allowed by the State of Georgia. Under the budgetary basis of accounting, the District does not budget for other financing sources and uses, but rather budgets those as revenues and current expenditures of the funds. Appropriations not spent or encumbered lapse at year-end and encumbrances outstanding at that time are rebudgeted in the following fiscal year. Budget amendments that are funded through a decrease in fund balance must be approved by the Board of Education. All other budget amendments may be approved by the Superintendent or his designee.
42

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024

Note 2. LEGAL COMPLIANCE BUDGETS (Continued)
While General Fund and Special Revenue Fund budgets are reported at the function level within individual funds, the level of budgetary control (that is, the level at which expenditures cannot legally exceed the appropriated amount) is at the fund level. In the event expenditures exceed appropriations in a function area, they must be offset by underexpenditures in other function areas within the same fund. The District makes certain reclassification of revenues and expenditures presented on a budgetary basis conform to GAAP basis financial statements. Several supplementary appropriations were necessary during the fiscal year ended June 30, 2024.
The District's budgetary statements for the General Fund differ somewhat from generally accepted accounting principles (GAAP) prepared statements. The dollar effect for these differences is detailed in the following reconciliation for the year-end net change in fund balance (budgetary basis) to the year-end net change in fund balance (GAAP basis):

Reconciliation of GAAP to Budget Basis
Actual Revenues GAAP Basis Other Financing Sources budgeted as revenues Budgeted Revenues, Budgetary Basis

General Fund
$ 1,526,344,000 5,628,000
1,531,972,000

Actual Expenditures GAAP Basis Other Financing Uses budgeted as expenditures Budgetary Expenditures, Budgetary Basis

1,546,375,000 1,279,000
1,547,654,000

Net Change in Fund Balance, Budgetary Basis

$

(15,682,000)

Net Change in Fund Balance, GAAP Basis

$

(15,682,000)

43

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024

Note 2. LEGAL COMPLIANCE BUDGETS (Continued)

For the year ended June 30, 2024, expenditures exceeded appropriations in several function areas within various funds. These over-expenditures were offset by under-expenditures in other function areas within the same fund, or by revenues collected in excess of budgeted collections. The over-expenditures are identified in the following schedule:

Fund/Function

Ove re xpe nditure

Venue Management

Maintenance and Operation of Plant

$

After School Program

Instruction

Improvement of Instructional Services

School Administration

Maintenance and Operation of Plant

Other Outlays

Tuition School/Adult High School

Instruction

Pupil Services

Community Services Operations

School Nutrition/FNS Catered Food Service

School Nutrition Program

GNETS

Pupil Services

Maintenance and Operation of Plant

Title I:

General Administration

Special Education

Instruction

Pupil Services

General Administration

Student Transportation

Homeless Grant:

Pupil Services

Federal Grant Administration

Title IV:

Instruction

Pupil Services

ARPA

Improvement of Instructional Services

Instructional Staff Training

Maintenance and Operation of Plant

Student Transportation

863,000
487,000 5,000 27,000
326,000 447,000
48,000 2,000 191,000
172,000
17,000 65,000
34,000
2,003,000 636,000 130,000 145,000
13,000 1,000
190,000 18,000
85,000 46,000 1,000 194,000

44

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 3. CASH EQUIVALENTS, DEPOSITS AND INVESTMENTS
COLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee of insurance or by collateral. The aggregate of the face value of such surety bond and the fair value of securities pledged shall be equal to not less than 110 percent of the public funds being secured after the deduction of the amount of deposit insurance. If a depository elects the pooled method (OCGA 45-813.1) the aggregate of the fair value of the securities pledged to secure a pool of public funds shall be not less than 110 percent of the daily pool balance. OCGA Section 45-8-11 (b) provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts. State statutes also allow deposits and investments (other than federal or state government instruments) amounts that exceed standard depository insurance limits to be collateralized by participation in the State of Georgia Secure Deposit Program. As of June 30, 2024, a financial institution holding some of the District's deposits is a participant in the State of Georgia Secure Deposit Program, which is administered by the Office of the State Treasurer, requires participating banks holding deposits of public funds to pledge collateral at varying rates depending on the tier assigned by the State.
Acceptable security for deposits consists of any one of or any combination of the following:
(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia,
(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation,
(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia,
(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia,
(5) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose,
(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and
45

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 3. CASH EQUIVALENTS, DEPOSITS AND INVESTMENTS (Continued)
(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest or debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association.
Cash Equivalents and Deposits
Cash equivalents consist of bank checking, savings, money-market accounts, and certificate of deposits.
Custodial credit risk-deposits and investments
Custodial credit risk is the risk that in the event of bank failure, the District's cash equivalents and deposits may not be returned to the District. On June 30, 2024, the District had deposits with a carrying amount of $89,267,409 and a bank balance of $105,046,101. The bank balance was covered entirely by Federal depository insurance, by collateral held by the District or the District's agent in the District's name, or by a multiple financial institution collateral pool authorized by the State of Georgia that insures public deposits.
The District has no custodial credit risk since there are no uncollateralized or uninsured securities not in the District's name.
Investments
As of June 30, 2024, the District's investments included $710,571,612 in a local government investment pool account called Georgia Fund 1, the combined state general fund and local government investment pool managed by the Office of the State Treasurer. On that date, these funds had a weighted average maturity of 33 days.
The District's investment in Georgia Fund 1, the State of Georgia Investment Pool, is rated AAAf/S1 by Fitch Ratings. The Office of the State Treasurer is the oversight agency for Georgia Fund 1. Georgia Fund 1, created by OCGA 36-83-8, is a stable asset value investment pool.
46

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 3. CASH EQUIVALENTS, DEPOSITS AND INVESTMENTS (Continued)
Georgia Fund 1's primary objectives are safety of capital, investment income, liquidity and diversification while maintaining principal ($1 per share value). The pool is not registered with the SEC as an investment company. Asset value is calculated weekly to ensure stability. The pool distributes earnings (net of management fees) on a monthly basis and determines participant's shares sold and redeemed based on $1 per share. The pool also adjusts the value of its investments to fair value as of year-end and the District's investment in the Georgia Fund 1 is reported at fair value. As of June 30, 2024, the District considers amounts held in Georgia Fund 1 as cash equivalents for financial statement presentation.
Fair Value Measurements
Georgia Fund 1 is an investment pool that does not meet the criteria of GASB Statement No. 79 and is thus valued at fair value in accordance with GASB Statement No. 31. As a result, the District does not disclose investment in Georgia Fund 1 within the fair value hierarchy.
Credit Risk The District's investment policy is to apply the prudent investor rule which states "investments shall be made with judgment and care, under circumstances when prevailing, which persons of prudence, discretion and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the primary objective of safety of capital as well as the objective of obtaining a market rate of return."
The policy of the District is to invest funds with larger banking institutions that are able to collateralize the public funds at 110%. Any bid to purchase securities must be from a broker/dealer who is a member of the NASD and SIPC and have a major presence in the metropolitan area.
Concentration of Credit Risk
Concentration of credit risk is defined as investments of more than 5% in any one issuer. Georgia Fund 1 is excluded from the requirement of disclosing concentration of credit risk.
47

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 3. CASH EQUIVALENTS, DEPOSITS AND INVESTMENTS (Continued) Interest Rate Risk In accordance with its investment policy, the District will minimize interest rate risk, which is the risk that the fair value of securities in the portfolio will fall due to changes in market interest rates, by structuring the investment portfolio so that securities mature to meet cash requirements for ongoing operations, thereby avoiding the need to sell securities in the open market, and investment operating funds primarily in money market funds or similar investment pools and limiting the average maturity in accordance with the District's cash requirements. Foreign Currency Risk The District is not authorized to invest in investments that have this type of risk. Note 4. NON-MONETARY TRANSACTIONS The District received food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. See Note 1 Inventories
Remainder of Page Intentionally Left Blank
48

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024

Note 5. CAPITAL ASSETS
The following is a summary of changes in the capital assets during the fiscal year, rounded to the thousands:

Governmental Activities Capital Assets, Not Being Depreciated:
Land Construction In Progress Total Capital Assets Not Being Depreciated Capital Assets Being Depreciated: Buildings and Improvements Intangibles Equipment Library/Textbooks Total Capital Assets Being Depreciated Less Accumulated Depreciation for: Buildings and Improvements Intangibles Equipment Library/Textbooks Total Accumulated Depreciation Total Capital Assets Being Depreciated Net Governmental Capital Assets,Net

Balance June 30, 2023

Increases

Decreas es

Balance June 30, 2024

$

148,467,000 $ 3,459,000 $

- $ 151,926,000

126,040,000

66,839,000

(142,144,000)

50,735,000

274,507,000

70,298,000

(142,144,000)

202,661,000

2,432,741,000 10,479,000 310,155,000 60,479,000
2,813,854,000

145,861,000 -
31,147,000 1,840,000 178,848,000

(3,750,000) -
(18,803,000) (9,362,000) (31,915,000)

2,574,852,000 10,479,000 322,499,000 52,957,000
2,960,787,000

1,054,848,000 9,497,000
196,019,000 49,991,000

61,527,000 485,000
31,374,000 4,365,000

(3,447,000) -
(16,389,000) (9,362,000)

1,112,928,000 9,982,000
211,004,000 44,994,000

1,310,355,000

97,751,000

(29,198,000)

1,378,908,000

1,503,499,000 $ 1,778,006,000

81,097,000 $ 151,395,000

(2,717,000)

1,581,879,000

$ (144,861,000) $ 1,784,540,000

Current year depreciation expense by function for governmental activities is as follows:

Ins truction Pupil Services School and Administrative Services Pupil Transportation Maintenance and Operations School Nutrition Services

$

88,627,000

1,310,000

2,751,000

3,968,000

837,000

258,000

$

97,751,000

49

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 6. INTERFUND ASSETS AND LIABILITIES
Interfund receivable and payable balances result from the time lag between the dates that (1) interfund goods and services are provided or reimbursable expenditures occur, (2) transactions are recorded in the accounting system, and (3) payments between funds are made. All interfund balances will be paid within one year. The $14,457,000 receivable due to the General Fund from various nonmajor governmental funds was primarily for the financing of federal and state grant expenditures whose reimbursements were pending at year-end, as detailed below. The $38,000 payable due to Local Schools from the General Fund largely represented local school excess cash reserves invested with interest, net of the interfund payable. Interfund receivable and payable balances by fund as of June 30, 2024, are disclosed in the following schedule, rounded to the thousands:

Major Governmental Funds: General Fund Total Major Governmental Funds

Re ce ivable
$ 14,457,000 14,457,000

Nonmajor Governmental Funds: Title I Special Ed Federal Grant Vocational Education Title II Homeless Grant ARP Title III Title IV Local Schools Adult Education GNETS Food Nutrition/FNS Catered Food Service Total Nonmajor Governmental Funds

38,000 10,000 48,000

Total

$ 14,505,000

Payable

$

38,000

38,000

4,004,000 3,006,000
113,000 792,000 115,000 4,862,000 196,000 625,000
272,000 154,000 328,000 14,467,000
$ 14,505,000

50

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 7. INTERFUND TRANSFERS
Interfund transfers are used to (1) move revenues from the fund that statute or budget requires to collect them to the fund that statute or budget requires to expend them and (2) to use unrestricted revenues in the General Fund to finance various programs accounted for in other funds in accordance with budgetary authorizations. The transfer amount from the General Fund to the Countywide Building Fund was for the purchase of portable classroom expenditures. The remaining transfers out of the General Fund were to provide needed supplemental funding of various school support services. The transfer into the General Fund from nonmajor governmental funds represents excess uncommitted revenue above program expenditures that was moved to benefit the various instructional and support services of the District. Special Purpose Local Option Sales Tax VI transfers out were to reimburse District Building Fund for early start up cost associated with new projects.
Interfund transfers for the year ended June 30, 2024, consisted of the following, rounded to the thousands:

Transfers Out: General Fund: General Fund General Fund
Total General Fund
District Building Fund Total District Building Fund

Transfers In: Tuition School / Adult High School Fund District Building Fund
General Fund

Special Purpose Local Option Sales Tax VI

District Building Fund

Total Special Purpose Local Option Sales Tax VI

System Wide/County-Wide Total System Wide/County-Wide

Special Purpose Local Option Sales Tax V

Non-Major Gvoernmental Funds: After School Program Fund
Total Non-Major Governmental Funds

General Fund

Total for All Funds

Amount
279,000 1,000,000 $ 1,279,000
4,911,000 $ 4,911,000
1,573,000 $ 1,573,000
1,445,000 $ 1,445,000

447,000

$

447,000

$ 9,655,000

51

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024

Note 8. RISK MANAGEMENT
The District is self-insured for all claims under general liability, vehicle accidents, and workers compensation. The District maintains a policy for excess workers compensation. The District is commercially insured for property, contents and boiler, and carries fidelity bond coverage for employee dishonesty, in addition to a state-mandated Superintendent's bond and school principals' bond. The District has not had any significant reductions in insurance coverage from coverage in the prior year.
Premiums are paid into Internal Service funds by user funds and are available to pay claims and administrative costs of the program and establish claim reserves. These interfund premiums are recognized as revenue in the internal service funds. Actuarial analysis provides estimated ultimate losses for workers compensation and automobile liability, which are converted to present value using an interest rate of 1%.
Estimated claims for the next fiscal year total $2,491,000 and the non-current liability for succeeding years is $5,400,000. In the past, the amount of any insurance settlements has not exceeded the insurance coverage for the past three years.

Estimated Unpaid Claims at Beginning
of Fiscal Year

Claims and Changes in Estimates

Claim Payments

Estimated Unpaid Claims at
End of Fiscal Year

2023 $

7,700,000 $ 5,202,000 $ (5,066,000) $ 7,836,000

2024 $

7,836,000 $ 6,155,000 $ (6,100,000) $ 7,891,000

Note 9. SHORT-TERM NOTES
In January 2024, the District issued $99,575,000 in revenue-anticipation notes to be applied to the current expenses of constructing, equipping and upgrading various school facilities and improvements as voted upon by District stakeholders in the Special Purpose Local Option Sales Tax referendum on November 2, 2021. The short-term construction notes bear an interest rate of 4.0% with a maturity date of December 16, 2024. The District will repay the notes with proceeds from the local option sales tax collected in calendar year 2024. If the proceeds are not sufficient to pay the entire principal and interest on the notes, property taxes within the 20 mil limitation prescribed by law may be levied upon all taxable property within Cobb County and immediately due. The principal and interest payment on December 16, 2024, will total $103,126,508.

52

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 9. SHORT-TERM NOTES (Continued)

The following represents the activity related to short-term notes during fiscal year ended June 30, 2024.

Beginning Balance $ 98,860,000

Additions $ 99,575,000

Deletions $ (98,860,000)

Ending Balance $ 99,575,000

Note 10. COMPENSATED ABSENCES
It is the District's policy to allow employees to accumulate earned but unused vacation benefits. Employees are compensated for qualifying vacation benefits upon termination of their employment with the District. A liability for these vacation benefits are accrued and includes social security, medicare, and workers compensation. Employees are not compensated for sick leave benefits upon termination of their employment. Therefore, no liability is reported for earned but unused sick leave benefits.

Note 11. LONG-TERM OBLIGATIONS

Fiscal year 2024 long-term obligations are as follows:

Long-te rm

Balance

Current Amounts Amounts Due

6/30/2023

Incre as e s

De cre as e s

Balance 6/30/2024 Due Within One Year After One Year

Accrued Vacation Pay

$

16,947,000 $

14,052,000 $

12,902,000 $

18,097,000 $

13,777,000 $

4,320,000

Net OPEB Liability

$ 611,297,000 $ 118,120,000 $

46,915,000 $ 682,502,000 $

- $ 682,502,000

Net Pension Liability

$ 1,850,336,000 $ 384,412,000 $

513,736,000 $ 1,721,012,000 $

- $ 1,721,012,000

Total

$ 2,478,580,000 $ 516,584,000 $ 573,553,000 $ 2,421,611,000 $

13,777,000 $ 2,407,834,000

Accrued vacation pay, pension, and OPEB obligations are largely liquidated by the General Fund.
Note 12. ON-BEHALF PAYMENTS
The State of Georgia makes certain health insurance and pension plan payments on behalf of the District for its employees. The District records these payments as both a revenue and expenditure in the General Fund. The total of the on-behalf payments for the fiscal year ended June 30, 2024, was $2,186,164.

53

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024

Note 13. COMMITMENTS AND CONTINGENCIES
The District makes various contractual commitments on an ongoing basis for construction and remodeling of its capital assets. The major outstanding commitments as of June 30, 2024, included additions and renovations at two elementary school, four high schools and one central office location. As of June 30, 2024, the contract price and expenditures to date for the largest projects were as follows:

Project

Contract Price

Expenditures To Date

New Replacement School Sprayberry HS New Replacement School Eastvalley ES Infrastructure Shallowford Falls Additions/Modifications Pebblebrook HS Additions/Modifications Nickajack ES Additions/Modifications Lassiter HS Additions/Modifications South Cobb HS Additions/Modifications Wheeler HS Infrastructure Blackwell ES

$ 91,685,110 40,778,277 6,235,717 60,297,918 5,658,348 18,168,693 27,220,072 5,633,108 9,859,547
$ 265,536,790

$ 9,387,101 40,659,959 44,226 60,241,711 749,852 10,339,825 21,129,366 5,417,758 2,459,269
$ 150,429,067

The District participates in numerous state and federal grant programs, which are governed by various rules and regulations of the grantor agencies. Costs charged to the respective grant programs are subject to audit and adjustment by the grantor agencies; therefore, to the extent that the District has not complied with the rules and regulations governing the grants, refunds of any money received may be required. In addition, the collectability of any related receivable at June 30, 2024, may be impaired. In the opinion of the District, there are no significant contingent liabilities relating to compliance with the rules and regulations governing the respective grants; for this reason, no provision has been recorded in the accompanying combined financial statements for such contingencies.
The District is a defendant in various lawsuits. Although the outcome of these lawsuits is not presently determinable, in the opinion of the District's attorney and management, the resolution of these matters will not have a material adverse effect on the financial condition of the District.

54

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 14. RETIREMENT PLANS
Teachers Retirement System of Georgia (TRS)
Plan Description
Substantially all teachers, administrators and clerical personnel are members of this costsharing multiple-employer defined benefit public employee retirement system. TRS was created in 1943 by an act of the Georgia General Assembly and is administered by a ten member Board of Trustees. TRS is funded by a combination of employee, employer and State of Georgia contributions. Benefits are established and may be amended by State statute and provide retirement, death, long-term disability, survivor and health insurance premium benefits. TRS issues a publicly available financial report that can be obtained at www.trsga.com/publications.
Benefits Provided
TRS retirement benefits are determined as 2 % of the average of the employee's two highest paid consecutive years of service, multiplied by the number of years of creditable service up to 40 years. An employee is eligible for normal service retirement after 30 years of creditable service, regardless of age, or after 10 years of service and attainment of age 60. Ten years of service is required for disability and death benefits eligibility. Disability benefits are based on the employee's creditable service and compensation up to the time of disability. Death benefits equal the amount that would be payable to the employee's beneficiary had the employee retired on the date of death. Death benefits are based on the employee's creditable service and compensation up to the date of death.
Contributions
Per Title 47 of the O.C.G.A., contribution requirements of active employees and participating employers, as actuarially determined, are established and may be amended by the TRS Board. Pursuant to O.C.G.A. 47-3-63, the employer contributions for certain fulltime public school support personnel are funded on behalf of the employer by the State of Georgia. Contributions are expected to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. Plan members are currently required to contribute 6.00 percent of their annual covered payroll and the District is currently required to contribute 19.98 percent of the covered payroll. The District's contributions to TRS for the year ended June 30, 2024, was $185,584,965.
55

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 14. RETIREMENT PLANS (Continued)
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions
At June 30, 2024, the District reported a liability for its proportionate share of the net pension liability that reflected a reduction for support provided to the District by the State of Georgia for certain public school support personnel. The amount recognized by the District as its proportionate share of the net pension liability, the related State of Georgia support, and the total portion of the net pension liability that was associated with the District were as follows:

District's proportionate share of the net pension liability
State of Georgia's proportionate share of the net pension liability associated with the District
Total

$ 1,721,011,604
332,444 $ 1,721,344,048

The net pension liability was measured as of June 30, 2023. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2022. An expected total pension liability as of June 30, 2023, was determined using standard rollforward techniques. The District's proportion of the net pension liability was based on contributions to TRS during the fiscal year ended June 30, 2023. At June 30, 2023, the District's proportion was 5.829137%, which was an increase of 0.130874% from its proportion measured as of June 30, 2022.
For the year ended June 30, 2024, the District recognized pension expense of $363,585,929 and a pension expense of $50,533 related to State funded support staff. At June 30, 2024, the District reported deferred outflows of resources and deferred inflows of resources related to pensions from the sources on the following page.

56

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024

Note 14. RETIREMENT PLANS (Continued)

Differences between expected and actual experience
Changes of Assumptions
Net difference between projected and actual earnings on pension plan investments
Changes in proportion and differences between District contributions and proportionate share of contributions
District contributions subsequent to the measurement date
Total

Deferred Outflows of Resources $ 87,390,655
177,055,140

Deferred Inflows of Resources
$ 7,115,802
-

121,043,371

-

36,490,337

-

185,584,965 $ 607,564,468

$ 7,115,802

District contributions subsequent to the measurement date of $185,584,965 are reported as deferred outflows of resources and will be recognized as a reduction of the net pension liability in the year ending June 30, 2025. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows:

Year ending June 30: 2025 2026 2027 2028
Total

128,864,544 83,263,215
242,158,252 (39,422,310) $ 414,863,701

57

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024

Note 14. RETIREMENT PLANS (Continued)
Actuarial assumptions: The total pension liability as of June 30, 2023, was determined by an actuarial valuation as of June 30, 2022, using the following actuarial assumptions, applied to all periods included in the measurement:

Inflation Salary increases Investment rate of return
Post retirement benefit increases

2.50% 3.00-8.75%, average, including inflation 6.90%, net of pension plan investment expense, including inflation 1.50% semi-annually

Post-retirement mortality rates for service retirements and beneficiaries were based on the Pub-2010 Teachers Headcount Weighted Below Median Healthy Retiree mortality table (ages set forward one year and adjusted 106%) with the MP-2019 Projection scale applied generationally. The rates of improvement were reduced by 20% for all years prior to the ultimate rate. Post-retirement mortality rates for disability retirements were based on the Pub-2010 Teachers Mortality Table for Disabled Retirees (ages set forward one year and adjusted 106%) with the MP-2019 Projection scale applied generationally. The rates of improvement were reduced by 20% for all years prior to the ultimate rate. The Pub-2010 Teachers Headcount Weighted Below Median Employee mortality table with ages set forward one year and adjusted 106% was used for death prior to retirement. Future improvement in mortality rates was assumed using the MP-2019 projection scale generationally. These rates of improvement were reduced by 20% for all years prior to the ultimate rate.
The actuarial assumptions used in the June 30, 2022, valuation were based on the results of an actuarial experience study for the period July 1, 2013 June 30, 2018.
The long-term expected rate of return on pension plan investments was determined using a log-normal distribution analysis in which best-estimate ranges of expected future real rates of return (expected nominal returns, net of pension plan investment expense and the assumed rate of inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation.

58

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 14. RETIREMENT PLANS (Continued)
The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table:

Asset class
Fixed income Domestic large equities Domestic small equities International developed market equities International emerging market equities Alternatives
Total
* Rates shown are net of the 2.50% assumed rate of inflation

Target allocation
30.00 % 46.30 1.20 12.30 5.20 5.00 100.00 %

Long-term expected real rate of return*
0.20 % 9.40 13.40 9.40 11.40 10.50

Discount rate: The discount rate used to measure the total pension liability was 6.90%. The projection of cash flows used to determine the discount rate assumed that plan member contributions will be made at the current contribution rate and that employer and State of Georgia contributions will be made at rates equal to the difference between actuarially determined contribution rates and the member rate. Based on those assumptions, the pension plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long- term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability.

Sensitivity of the District's proportionate share of the net pension liability to changes in the discount rate: The following presents the District's proportionate share of the net pension liability calculated using the discount rate of 6.90%, as well as what the District's proportionate share of the net pension liability would be if it were calculated using a discount rate that is one percentage point lower (5.90%) or one percentage point higher (7.90%) than the current rate:

1% Decrease (5.90%)
District's proportionate share of the net pension liability $ 2,721,119,553

Current discount rate
(6.90%)
$ 1,721,011,604

1 % Increase (7.90%)
$ 904,288,829

59

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 14. RETIREMENT PLANS (Continued)
Pension plan fiduciary net position: Detailed information about the pension plan's fiduciary net position is available in the separately issued TRS financial report which is publicly available at www.trsga.com/publications.
Payables to the pension plan
At June 30, 2024, the District reported a payable of $20,179,587 for the outstanding amount of contributions to the TRS pension plan required for the year ended June 30, 2024.
Public School Employee Retirement System of Georgia (PSERS)
Plan Description PSERS is a cost-sharing multiple-employer defined benefit pension plan established by the Georgia General Assembly in 1969 for the purpose of providing retirement allowances for public school employees who are not eligible for membership in the Teachers Retirement System of Georgia. These employees include bus drivers, maintenance, custodial, and lunchroom personnel. The ERS Board of Trustees, plus two additional trustees, administers PSERS. Title 47 of the O.C.G.A. assigns the authority to establish and amend the benefit provisions to the State Legislature. PSERS issues a publicly available financial report that can be obtained at www.ers.ga.gov/financials.
Benefits Provided
A member may retire and elect to receive normal monthly retirement benefits after completion of ten years of creditable service and attainment of age 65. A member may choose to receive reduced benefits after age 60 and upon completion of ten years of service. Upon retirement, the member will receive a monthly benefit of $16.00, multiplied by the number of years of creditable service. Death and disability benefits are also available through PSERS. Additionally, PSERS may make periodic cost-of-living adjustments to the monthly benefits. Upon termination of employment, member contributions with accumulated interest are refundable upon request by the member. However, if an otherwise vested member terminates and withdraws his/her member contribution, the member forfeits all rights to retirement benefits.
60

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 14. RETIREMENT PLANS (Continued)
Funding Policy
The general assembly makes an annual appropriation to cover the employer contribution to PSERS on behalf of local school employees (bus drivers, cafeteria workers, and maintenance staff). The annual employer contribution required by statute is actuarially determined and paid directly to PSERS by the State Treasurer in accordance with O.C.G.A. 47-4-29(a) and 60(b). Contributions are expected to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability.
Plan members who became members prior to July 1, 2012, contribute $4 per month for nine months each fiscal year. Individuals who became members on or after July 1, 2012, contribute $10 per month for nine months each fiscal year. The State of Georgia, although not the employer of PSERS members, is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS Board of Trustees. The District does not make an annual contribution to PSERS.
Employees who are covered by PSERS are eligible to participate in a supplemental defined contribution plan. If the employee contributes 1% of salary to the 403b plan administered by VALIC, s/he will receive a contribution equal to 2% of salary each month to match, for a total contribution of 3% of salary. The District's contributions to the supplemental defined contribution plan for the year ended June 30, 2024 was $367,463 with an average number of participants of 480.
Pension Liabilities and Pension Expense
At June 30, 2024, the District did not have a liability for a proportionate share of the net pension liability because of the related State of Georgia support. The amount of the State's proportionate share of the net pension liability associated with the District is as follows:

State of Georgia's proportionate share of the Net Pension Liability associated with the District

$ 11,756,258

The net pension liability was measured as of June 30, 2023. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2022. An expected total pension liability as of June 30, 2023, was determined using standard rollforward techniques. The State's proportion of the net pension liability associated with the District was based on actuarially determined contributions paid by the State during the fiscal year ended June 30, 2023.

61

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024

Note 14. RETIREMENT PLANS (Continued)

For the year ended June 30, 2024, the District recognized pension expense of $2,121,831 and revenue of $2,121,831 for support provided by the State of Georgia.

Actuarial assumptions: The total pension liability was determined by an actuarial valuation as of June 30, 2022, using the following actuarial assumptions, applied to all periods included in the measurement:

Inflation Salary increases Investment rate of return
Post retirement benefit increase

2.50% N/A 7.00%, net of pension plan investment expense, including inflation
1.50% semi-annually

Mortality rates are as follows:
The Pub-2010 General Employee Table, with no adjustments, projected generationally with the MP-2019 scale is used for both males and females while in active service.
The Pub-2010 Family of Tables projected generationally with the MP-2019 Scale and with further adjustments are used for post-retirement mortality assumptions as follows:

Participant Type Membership Table

Set Forward (+)/Setback (-) Adjustment to Rates

Service Retirees General Healthy BelowMedian Annuitant
Disability Retirees General Disabled

Male: +2; Female: +2 Male: -3; Female: 0

Male: 101%; Female: 103% Male: 103%; Female: 106%

Beneficiaries

General Below-Median Male: +2; Female: +2 Contingent Survivors

Male: 104%; Female: 99%

The actuarial assumptions used in the June 30, 2022, valuation were based on the results of an actuarial experience study for the period July 1, 2014 June 30, 2019.

62

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024

Note 14. RETIREMENT PLANS (Continued)
The long-term expected rate of return on pension plan investments was determined using a log-normal distribution analysis in which best-estimate ranges of expected future real rates of return (expected nominal returns, net of pension plan investment expense and the assumed rate of inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table:

Asset class

Target allocation

Long-term expected real rate of return*

Fixed income Domestic large equities Domestic small equities International developed market equities International emerging market equities Alternatives
Total

30.00 % 46.30 1.20 12.30 5.20 5.00 100.00 %

0.90 % 9.40 13.40 9.40 11.40 10.50

*Net of inflation

Discount rate: The discount rate used to measure the total pension liability was 7.00%. The projection of cash flows used to determine the discount rate assumed that plan member contributions will be made at the current contribution rate and that employer and nonemployer contributions will be made at rates equal to the difference between actuarially determined contribution rates and the member rate. Based on those assumptions, the pension plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability.
Pension plan fiduciary net position: Detailed information about the pension plan's fiduciary net position is available in the separately issued PSERS financial report which is publicly available at www.ers.ga.gov/financials/.

63

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 15. OTHER POST EMPLOYMENT BENEFITS (OPEB)
Plan Description
The District participates in the State of Georgia School Employees Postemployment Benefit Fund (the School OPEB Fund) which is another postemployment benefit (OPEB) plan administered by the State of Georgia Department of Community Health (DCH). Certified teachers and non-certified employees of the District as defined in 20-2-875 of the Official Code of Georgia Annotated (O.C.G.A.) are provided OPEB through the School OPEB Fund - a cost-sharing multiple-employer defined benefit postemployment healthcare plan, reported as an employee trust fund of the State of Georgia and administered by a Board of Community Health (DCH Board). Title 20 of the O.C.G.A. assigns the authority to establish and amend the benefit terms of the group health plan to the DCH Board. The School OPEB Fund is included in the State of Georgia Annual Comprehensive Financial Report which is publicly available and can be obtained at https://sao.georgia.gov/statewide-reporting/acfr
Benefits
The School OPEB Fund provides healthcare benefits for retirees and their dependents due under the group health plan for public school teachers, including librarians, other certified employees of public schools, regional educational service agencies, and non-certified public school employees. Retiree medical eligibility is attained when an employee retires and is immediately eligible to draw a retirement annuity from Employees' Retirement System (ERS), Georgia Judicial Retirement System (JRS), Legislative Retirement System (LRS), Teachers Retirement System (TRS) or Public School Employees Retirement System (PSERS). If elected, dependent coverage starts on the same day as retiree coverage. Medicare-eligible retirees are offered Standard and Premium Medicare Advantage plan options. Non-Medicare eligible retiree plan options include Health Reimbursement Arrangement (HRA), Health Maintenance Organization (HMO) and a High Deductible Health Plan (HDHP). The School OPEB Fund also pays for administrative expenses of the fund. By law, no other use of the assets of the School OPEB Fund is permitted.
Contributions
As established by the Board of Community Health, the School OPEB Fund is substantially funded on a pay-as-you-go basis; that is, annual cost of providing benefits will be financed in the same year as claims occur. Contributions required and made to the School OPEB Fund from the District were $25,625,895 for the year ended June 30, 2024. Active employees are not required to contribute to the School OPEB Fund.
64

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 15. OTHER POST EMPLOYMENT BENEFITS (OPEB) (Continued)
OPEB Liabilities, OPEB Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB
At June 30, 2024, the District reported a liability of $682,501,423 for its proportionate share of the net OPEB liability. The net OPEB liability was measured as of June 30, 2023. The total OPEB liability used to calculate the net OPEB liability was based on an actuarial valuation as of June 30, 2022. An expected total OPEB liability as of June 30, 2023, was determined using standard roll-forward techniques. The District's proportion of the net OPEB liability was actuarially determined based on employer contributions to the School OPEB Fund during the fiscal year ended June 30, 2023. At June 30, 2024, the District's proportion was 6.230948%, which was an increase of 0.058214% from its proportion measured as of June 30, 2022.
For the year ended June 30, 2024, the District recognized OPEB revenue of $19,641,520. At June 30, 2024, the District reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:

Differences between expected and actual experience
Changes of Assumptions
Net difference between projected and actual earnings on OPEB plan investments
Changes in proportion and differences between District contributions and proportionate share of contributions
District contributions subsequent to the measurement date
Total

Deferred Outflows of Resources

Deferred Inflows of Resources

$ 19,893,787 123,997,091

$ (196,022,427) (85,234,074)

409,468

-

13,842,548

(10,507,604)

25,625,895 $ 183,768,789

$ (291,764,105)

65

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024

Note 15. OTHER POST EMPLOYMENT BENEFITS (OPEB) (Continued)
District contributions subsequent to the measurement date of $25,625,895 are reported as deferred outflows of resources and will be recognized as a reduction of the net OPEB liability in the year ending June 30, 2025. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows:

Total

Year ending June 30: 2025 2026 2027 2028 2029 2030

$

(47,561,934)

(33,312,222)

(42,031,269)

(18,037,163)

6,034,617

1,286,760

$

(133,621,211)

Actuarial assumptions: The total OPEB liability as of June 30, 2024, was determined by an actuarial valuation as of June 30, 2022, using the following actuarial assumptions and other inputs, applied to all periods included in the measurement and rolled forward to the measurement date of June 30, 2023:

Inflation Salary increases Long-term expected rate of return

2.50% 3.00-8.75%, including inflation 7.00%, compounded annually, net of investment expense, and including inflation

Healthcare cost trend rate: Initial Trend Rate Ultimate Trend Rate Year of Ultimate Trend Rate

7.00% 4.50% 2032

66

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024
Note 15. OTHER POST EMPLOYMENT BENEFITS (OPEB) (Continued)
Mortality rates were based on the RP-2000 Combined Mortality Table for Males or Females, as appropriate, with adjustments for mortality improvements based on Scale BB as follows:
For TRS members: Post-retirement mortality rates for service retirements and beneficiaries were based on the Pub-2010 Teachers Headcount Weighted Below Median Healthy Retiree mortality table (ages set forward one year and adjusted 106%) with the MP-2019 Projection scale applied generationally. The rates of improvement were reduced by 20% for all years prior to the ultimate rate. Post- retirement mortality rates for disability retirements were based on the Pub-2010 Teachers Mortality Table for Disabled Retirees (ages set forward one year and adjusted 106%) with the MP-2019 Projection scale applied generationally. The rates of improvement were reduced by 20% for all years prior to the ultimate rate. The Pub-2010 Teachers Headcount Weighted Below Median Employee mortality table with ages set forward one year and adjusted 106% was used for death prior to retirement. Future improvement in mortality rates was assumed using the MP-2019 projection scale generationally. These rates of improvement were reduced by 20% for all years prior to the ultimate rate.
For PSERS members: Pre-retirement mortality rates were based on the Pub-2010 General Employee Mortality Table, with no adjustment, with the MP-2019 Projections scale applied generationally. Post-retirement mortality rates for service retirements were based on the Pub-2010 General Healthy Annuitant Mortality Table (ages set forward one year and adjusted 101% for males and 103% for females) with the MP-2019 Projection scale applied generationally. Post-retirement mortality rates for disability retirements were based on the Pub-2010 General Disabled Mortality Table (ages set back three years for males and adjusted 103% for males and 106% for females) with the MP-2019 Projections scaled applied generationally. Postretirement mortality rates for beneficiaries were based on the Pub-2010 General Contingent Survivor Mortality Table (ages set forward two years and adjust 104% for males and 99% for females) with the MP-2019 Project scale applied generationally.
The actuarial assumptions used in the June 30, 2022, valuation were based on the results of an actuarial experience study for the pension systems, which covered the five-year period ending June 30, 2018, with the exception of the assumed annual rate of inflation which was changed from 2.75% to 2.50%, effective with the June 30, 2018 valuation.
The remaining actuarial assumptions (e.g., initial per capita costs, health care cost trends, rate of plan participation, rates of plan election, etc.) used in the June 30, 2022, valuation were based on a review of recent plan experience done concurrently with the June 30, 2022, valuation.
67

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024

Note 15. OTHER POST EMPLOYMENT BENEFITS (OPEB) (Continued)

Projection of benefits for financial reporting purposes are based on the substantive plan (the plan as understood by the Board and plan members) and include the types of benefits provided at the time of each valuation and the historical pattern of sharing of benefit costs between the employer and plan members to that point. The actuarial methods and assumptions used include techniques that are designed to reduce the effects of short-term volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long-term perspective of the calculation.

The long-term expected rate of return on OPEB plan investments was determined using a log-normal distribution analysis in which best-estimate ranges of expected future real rates of return (expected nominal returns, net of investment expense and the assumed rate of inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table:

Long-Term Expected Asset class

Target allocation

Long-term expected real rate of return*

Fixed income Equities

Total

30.00 % 70.00 100.00 %

0.14 % 9.20

*Net of inflation
Discount Rate: In order to measure the total OPEB liability for the School OPEB Fund, a single equivalent interest rate of 3.68% was used as the discount rate, as compared with last year's rate of 3.57%. The plan's fiduciary net position was projected to not be able to make all future benefit payments of current plan members. Therefore, the municipal bond rate as used for the long-term rate of return was applied to all periods of projected benefit payments to determine total OPEB liability. This is comprised mainly of the yield or index rate for 20-year tax-exempt general obligation bonds with an average rating of AA or higher (3.65% per the Municipal Bond Index Rate). The projection of cash flows used to determine the discount rate assumed that contributions from members and from the employers will be made at the current level as averaged over the last five years, adjusted for annual projected changes in headcount. Projected future benefit payments for all current plan members were projected through 2128.

68

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2024

Note 15. OTHER POST EMPLOYMENT BENEFITS (OPEB) (Continued)

Sensitivity of the District's proportionate share of the net OPEB liability to changes in the discount rate:

The following presents the District's proportionate share of the net OPEB liability calculated using the discount rate of 3.68%, as well as what the District's proportionate share of the net OPEB liability would be if it were calculated using a discount rate that is 1percentage-point lower (2.68%) or 1-percentage-point higher (4.68%) than the current rate:

District's proportionate share of the collective net OPEB liability

1% Decrease (2.68%)
$ 773,646,852

Current Discount Rate
(3.68%)
$ 682,501,423

1% Increase (4.68%)
$ 605,737,706

Sensitivity of the District's proportionate share of the net OPEB liability to changes in the healthcare cost trend rate:

The following table presents the District's proportionate share of the net OPEB liability, as well as what the District's proportionate share of the net OPEB liability would be if it were calculated using healthcare cost trend rates that are 1-percentage-point lower and 1percentage-point higher than the current healthcare cost trend rates:

District's proportionate share of the collective net OPEB liability

1% Decrease
$ 587,884,490

Current Discount Rate
$ 682,501,423

1 % Increase
$ 799,143,708

OPEB plan fiduciary net position: Detailed information about the OPEB plan's fiduciary net position is available in the Annual Comprehensive Financial Report which is publicly available and can be obtained at https://sao.georgia.gov/statewide-reporting/acfr.

69

COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2024

Schedule of Proportionate Share of Net Pension Liability Teacher Retirement System of Georgia

2024

2023

2022

2021

2020

2019

2018

2017

2016

2015

District's proportion of the net pension liability

5.829%

5.698%

5.629%

5.577%

5.388%

5.366%

5.532%

5.578%

5.409%

5.327%

District's proportionate share of the net pension liability $ 1,721,012,000 $ 1,850,336,000 $ 497,854,000 $ 1,350,882,000 $ 1,158,513,000 $ 996,094,000 $ 1,028,202,000 $ 1,150,755,000 $ 823,417,000 $ 673,042,000

State of Georgia's proportionate share of the net pension liability associated with the District

332,000

358,000

92,000

313,000

220,000

249,000

694,000

1,761,000

1,497,000

1,082,000

Total

$ 1,721,344,000 $ 1,850,694,000 $ 497,946,000 $ 1,351,195,000 $ 1,158,733,000 $ 996,343,000 $ 1,028,896,000 $ 1,152,516,000 $ 824,914,000 $ 674,124,000

District's covered payroll during measurement period
District's proportionate share of the net pension liability as a percentage of its covered payroll
Plan fiduciary net position as a percentage of the total pension liability

849,880,000
202.50% 76.29%

Note: Schedule is intended to show information for the last ten fiscal years.

770,590,000
240.12% 72.85%

732,539,000
67.96% 92.03%

718,988,000
187.89% 77.01%

657,526,000
176.19% 78.56%

638,999,000
155.88% 80.27%

635,179,000
161.88% 79.33%

612,318,000
187.93% 76.06%

570,929,000
144.22% 81.44%

544,177,000
123.68% 84.03%

70

Schedule of Contributions Teacher Retirement System of Georgia Last 10 Fiscal Years

COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2024

Contractually required contribution

2024

2023

2022

2021

2020

2019

2018

2017

2016

2015

$ 185,585,000 $ 169,806,000 $ 152,624,000 $ 139,596,000 $ 151,994,000 $ 137,423,000 $ 107,389,000 $ 90,646,000 $ 87,340,000 $ 75,145,000.00

Contributions in relation to the contractually required contribution

$ 185,585,000 $ 169,806,000 $ 152,624,000 $ 139,596,000 $ 151,994,000 $ 137,423,000 $ 107,389,000 $ 90,646,000 $ 87,340,000

75,145,000

Contribution Deficiency

$

-$

-$

-$

-$

-$

-$

-$

-$

-$

-

District's covered payroll

$ 928,534,000 $ 849,880,000 $ 770,590,000 $ 732,539,000 $ 718,988,000 $ 657,526,000 $ 638,999,000 $ 635,179,000 $ 612,318,000

570,929,000

Contributions as a percentage of covered payroll

19.98%

19.98%

19.81%

19.06%

21.14%

20.90%

16.81%

14.27%

14.26%

13.16%

Source: District Records. This schedule is presented to illustrate the requirement to show information for ten fiscal years.

71

COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2024
Notes to Required Supplementary Information For the Year Ended June 30
Teacher Retirement System of Georgia Change of benefit terms: There have been no changes in benefit terms. Changes of assumptions: On November 18, 2015, the Board adopted recommended changes to the economic and demographic assumptions utilized by the System. Primary among the changes were the updates to rates of mortality, retirement, disability, withdrawal and salary increases. The expectation of retired life mortality was changed to RP-2000 White Collar Mortality Table with future mortality improvement projected to 2025 with the Society of Actuaries' projection scale BB (set forward one year for males).
On May 15, 2019, the Board adopted recommended changes from the smoothed valuation interest rate methodology that has been in effect since June 30, 2009, to a constant interest rate method. In conjunction with the methodology, the long-term assumed rate of return in assets (discount rate) has been changed from 7.50% to 7.25%, and the assumed rate of inflation has been reduced from 2.75% to 2.50%. In 2019 and later, the expectation of retired life mortality was changed to the 2010 Teachers Headcount Weighted Below Median Healthy Mortality Table from the RP-2000 Mortality Tables. In 2019, rates of withdrawal, retirement, disability and mortality were adjusted to more closely reflect actual experience. In 2010, assumed rates of salary increase were adjusted to more closely reflect actual. experience On May 11, 2022, the Board adopted recommended changes to the long-term assumed rate of return and payroll growth assumption utilized by the system. The long-term assumed rate of return was changed from 7.25% to 6.9% and the payroll growth assumption was changed from 3.0% to 2.50%.
72

COBB COUNTY SCHOOL DISTRICT
Required Supplementary Information JUNE 30, 2024
Schedule of Proportionate Share of Net Pension Liability Public School Employee Retirement System of Georgia For the Year Ended June 30

District's proportion of the net pension liability
District's proportionate share of the net pension liability
State of Georgia's proportionate share of the net pension liability associated with the District
Total
District's covered-employee payroll during measurement period
District's proportionate share of the net pension liability as a percentage of its covered-employee payroll
Plan fiduciary net position as a percentage of the total pension liability

2024

2023

2022

2021

2020

2019

2018

2017

2016

2015

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

$

-$

-$

-$

-$

-$

-$

-$

-$

-$

-

11,756,000 14,424,000

1,560,000 11,802,000 10,813,000

9,992,000

9,300,000 12,322,000

8,097,000

7,321,000

$11,756,000 $14,424,000 $ 1,560,000 $11,802,000 $10,813,000 $ 9,992,000 $ 9,300,000 $12,322,000 $ 8,097,000 $ 7,321,000

$40,042,000 $34,015,000 $39,175,000 $44,711,000 $43,669,000 $39,077,000 $34,462,000 $38,188,000 $34,827,000 $23,583,000

N/A 85.67%

N/A 81.21%

N/A 98.00%

N/A 84.45%

N/A 85.02%

N/A 85.26%

N/A 85.69%

N/A 81.00%

N/A 87.00%

N/A 88.29%

Note: Schedule is intended to show information for the last ten fiscal years.

73

COBB COUNTY SCHOOL DISTRICT
Required Supplementary Information JUNE 30, 2024
Notes to Required Supplementary Information For the Year Ended June 30
Public Schools Employees Retirement System Change of benefit terms : There have been no changes in benefit terms. Changes of assumptions : On December 17, 2015, the Board adopted recommended changes to the economic and demographic assumptions utilized by the System. Primary among the changes were the updates to rates of mortality, retirement and withdrawal. The expectation of retired life mortality was changed to the RP-2000 Blue Collar Mortality Table projected to 2025 with project scale BB (set forward 3 years for males and 2 years for females). A new funding policy was initially adopted by the Board on March 15, 2018, and most recently amended on December 17, 2020. Because of this new funding policy, the assumed investment rate of return was reduced from 7.50% to 7.40% for June 30, 2017 actuarial valuation and further reduced by 0.10% from 7.40% to 7.30% as of the June 30, 2018 actuarial valuation. On December 17, 2020, the Board adopted recommended changes to the economic and demographic assumption utilized by the System based on the experience study prepared for the five year period ending June 30, 2019. Primary among the changes were the updates to rates or mortalitu, retirement, disability, and withdrawal. This also included a change to the long-term assumed investment rate of return to 7.00%. These assumption changes are reflected in the calculation of the June 30, 2023, Total Pension Liability.
74

COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2024

Schedule of Proportionate Share of Net OPEB Liability - School OPEB Fund For the Year Ended June 30

District's proportion of collective net OPEB liability District's proportionate share of net OPEB liability

2024

2023

2022

2021

2020

2019

2018

6.230948%

6.172734%

6.258782%

6.192298%

6.158032%

6.189471%

6.259222%

$ 682,501,423 $ 611,297,079 $ 677,877,868 $ 909,504,364 $ 755,722,646 $ 786,662,770 $ 879,418,172

Total

$ 682,501,423 $ 611,297,079 $ 677,877,868 $ 909,504,364 $ 755,722,646 $ 786,662,770 $ 879,418,172

District's covered employee payroll
District's proportionate share of the net OPEB liability as a percentage of its covered-employee payroll
Plan fiduciary net position as a percentage of the total OPEB liability

747,906,248

680,379,358

652,236,841

637,114,654

575,518,845

555,635,744

548,725,520

91.25%

89.85%

103.93%

142.75%

131.31%

141.58%

160.27%

6.05%

6.17%

6.14%

3.99%

4.63%

2.93%

1.61%

Note: Schedule is intended to show information for the last ten fiscal years. Additional years will be displayed as they become available.

75

COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2024

Schedule of Contributions - School OPEB Fund For the Year Ended June 30

Contractually required contributions Contributions in relation to the contractually
required contributions
Contribution deficiency/(excess)
District's covered employee payroll
Contributions as a percentage of covered-employee payroll

2024

2023

2022

2021

2020

2019

2018

$ 25,625,895 $ 23,963,505 $

22,319,063 $ 23,281,617 $ 20,940,906 $ 33,165,263 $ 32,079,432

$ 25,625,895 $ 23,963,505 $

22,319,063 $ 23,281,617 $ 20,940,906 $ 33,165,263 $ 32,079,432

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$ 827,888,597 $ 747,906,248 $ 680,379,358 $ 652,236,841 $ 637,114,654 $ 575,518,845 $ 555,635,744

3.10%

3.20%

3.28%

3.57%

3.29%

5.76%

5.77%

Note: Schedule is intended to show information for the last ten fiscal years. Additional years will be displayed as they become available.

76

COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2024
Notes to Required Supplementary Information For the Year Ended June 30
School OPEB Fund Changes of benefit terms: There have been no changes in benefit terms. Changes in assumptions: June 30, 2022 valuation: The tobacco use assumption and aging factors were revised.
June 30, 2020 valuation: Decremental assumptions were changed to reflect the Employees' Retirement System's experience study. Approximately 0.10% of employees are members of the Employees' Retirement System. June 30, 2019 valuation: Decremental assumptions were changed to reflect the Teachers Retirement System's experience study. June 30, 2018 valuation: The inflation assumption was lowered from 2.75% to 2.50%. June 30, 2017 valuation: The participation assumption, tobacco use assumption and morbidity factors were revised. June 30, 2015 valuation: Decremental and underlying inflation assumptions were changed to reflect the Retirement Systems' experience studies. June 30, 2012 valuation: A data audit was performed and data collection procedures and assumptions were changed. The discount rate used to measure the Total OPEB Liability was 3.68% for the measurement period ending June 30, 2023.
77

COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES Nonmajor Governmental Funds
Special Revenue Funds

These funds are used to account for proceeds of specific revenue sources that are legally restricted or committed to expenditures for specified purposes other than debt service or capital projects. These funds also account for receipts and expenditures of resources transferred from the General Fund where revenues are inadequate to finance specified activities.

Donations Venue Mgmt/Public Safety

This fund is created to provide accounting of donations which are made to the District for specific purposes by individuals or organizations.
This fund is created to provide accounting of the Facility Use program which organizes the rental of school facilities during non-instructional hours to provide the community with a place to hold activities at a nominal fee and to account for funds collected for parking decals sold to students, which are used to pay for campus police officers. In addition to parking decals sold to students, funds are transferred from the General fund.

After School Program

This fund is created to provide accounting of funds for the After School Program which utilizes designated school facilities for the purpose of providing supervision to children from school release time until 6:00 p.m. These revenues have been committed by the Board for use by local principals to benefit students and faculty subject to District policy.

Performing Arts/Art Career and Cultural Tuition School/Adult High School Miscellaneous Grants

This fund is created to account for funds for the Performing Arts Program which offers an opportunity for students in kindergarten through eighth grade to experience professional quality performing arts experiences. These experiences include off-campus trips to art museums, symphony concerts, ballet and theater performances, as well as in-house musical and dramatic presentations. The program is funded through voluntary student contributions and charges for participation. Art Career and Cultural fund is created to provide accounting of funds which are provided to local artists as compensation for workshops held in the district's schools.
This fund is created to provide accounting for the Tuition School Program which provides the opportunity for students to make up school classes and provide enrichment and remedial work at various instructional levels. This program is supported by user tuition charges. This fund is created to account for funds for the Adult High School Program which provides the opportunity for students 16 years of age, and older, who are not enrolled in a regular high school, to improve their basic educational skills and work towards high school completion.
This fund is established to provide accounting of funds received and represent a compilation of several grants which are awarded for educational purposes.

78

School Nutrition/FNS Catered Food Service

This fund is established to provide accounting of funds which are used for the operation of school lunchrooms. All lunches and breakfasts provide at least one-third of each student's nutritional needs and are available at a minimal cost. Free and reduced meals are provided for qualifying students. All lunchrooms are regularly inspected by the Cobb County Health Department and meet prescribed standards of the State Department of Education. The FNS Catered Food Service fund is established to offer additional revenue and staff training.

Pre-Kindergarten (Lottery)

This fund is established to prepare children for Kindergarten. This program is funded by the Georgia lottery and is a voluntary for all eligible four year olds residents.

Adult Education

This fund is established to provide accounting for grant funds via the Georgia Department of Technical and Adult Education which are used to educate adults and is a part of the national effort to ensure that all adults are literate and able to compete in the global economy.

GNETS

This fund is established to provide accounting for grant funds via the Georgia Department of Education which are used to provide appropriate education for students identified as severely emotionally behavior disordered, or autistic. This fund reports a restricted fund balance due to an MOU with other metro school districts.

Title I
Special Education Vocational Education

This fund is established to provide accounting of Title I funds which are provided as part of the No Child Left Behind Act of 2001. This act provides federal funds through the Georgia Department of Education to local school districts to help disadvantaged children meet high standards. The goal is to have a quality education for all children by having local schools and state departments work together.
This fund is established to provide accounting of federal revenues received to provide programs for direct and related support services for handicapped children.
This fund is established to provide accounting of federal grant revenues provided for career training and opportunities to students.

Title II

This fund is established to provide accounting of federal categorical grant funds which flow through the Georgia Department of Education to our school district. The funds are used to advance teacher quality through professional learning, preparation, recruitment and retention as well as upgrading teachers' skills in science and math through training.

Homeless Grant USDA Fruits and Vegetables Title III

This fund is established to provide accounting of funds for federal categorical grant funds which flow through the Georgia Department of Education and are used to provide educational services to homeless children.
This fund is established to provide accounting of federal grant funds which flow through the Georgia Department of Education Food and Nutrition Program. The funds provide free fresh fruits and vegetables to school children outside of the lunch or breakfast food service periods.
This fund is established to provide accounting of federally funded grants for programs that support Limited English Proficiency (LEP) students and their families, through language instructional programs. These programs include community participation programs, family literacy services, parent outreach and training activities to improve the English language skills of limited English proficient children and assistance for parents in helping their children to improve their academic achievement.

79

Title IV CARES ACT

This fund is established to provide accounting of federal categorical grant funds which are directly funded from the U.S. Department of Education and may flow through the Georgia State Department of Education. The funds are used to promote the Safe and Drug Free Schools Program, the Mentoring Program and the 21st Century Community Learning Centers Program for students in our schools.
This fund is established to provide relief to government organizations that been hit hard by the effects of COVID-19.

American Rescue Plan (ARP)

This fund is established to account for funds used to to speed up the recovery from the economic and health effects of the COVID-19 pandemic and the ongoing recession.

Local School Funds

This fund is established to provide accounting for local school resources generated through ticket sales, commissions, vending, donations, etc. in which the administration has a material degree of involvement. These revenues have been committed by the Board for use by local principals to benefit students and faculty subject to District policy. Beginning in fiscal year 2020, Student activity funds are reported in this fund.

Capital Projects Funds
These funds are established to provide accounting for financial resources to be used for the acquisition and construction of major capital facilities. The District has three nonmajor funds used for those purposes; the District Building Fund, the Special Purpose Local Option Sales Tax IV Fund and the Special Purpose Local Option Sales Tax VI Fund.

80

COBB COUNTY SCHOOL DISTRICT COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2024
ASSETS:
Cash and Cash Equivalents Taxes Intergovernmental Receivable Accounts Receivable Due From Other Funds Inventories
Total Assets
LIABILITIES AND FUND BALANCES:
Liabilities: Accounts Payable Accrued Payroll and Payroll Withholdings Notes Payable Accrued Employee Benefits Accrued Interest Payable Due to Other Funds Unearned Revenue Total Liabilities
Fund Balances: Nonspendable Restricted Committed Assigned
Total Fund Balances Total Liabilities and Fund Balances

Donations

Special Revenue

Venue Mgmt/ Public Safety

After School Program

Performing Arts/ Art Career and Cultural

$

866,000 $

1,334,000 $

-

-

-

-

-

-

-

-

$

866,000 $

1,334,000 $

3,968,000 $
5,000
3,973,000 $

611,000
611,000

$

-$

307,000 $

12,000

39,000

1,000

4,000

-
13,000

-
350,000

39,000 $
3,000
-
42,000

-

-

-

-

853,000

984,000

-

-

853,000

984,000

$ 866,000 $ 1,334,000 $

3,931,000 3,931,000
3,973,000 $

-
-
-
-
611,000 611,000 611,000

81

Tuition School/ Adult High School

Misc. Grants

Special Revenue

School

Nutrition/

FNS Catered

PRE K

Food Service

Lottery

Adult Education

GNETS

$

3,712,000 $

63,000 $

32,813,000 $ 22,000 $

-$

-

15,000

127,000

-

340,000

-

-

36,000

-

-

-

-

10,000

-

-

-

-

2,812,000

-

-

$

3,712,000 $

78,000 $

35,798,000 $ 22,000 $ 340,000 $

-
428,000 -
428,000

$

58,000 $

-$

563,000 $

-$

2,000 $

-

592,000

-

435,000

-

48,000

99,000

68,000

-

1,029,000

-

18,000

54,000

-
718,000

-

328,000

-

272,000

-

986,000

22,000

-

-

3,341,000

22,000

340,000

154,000 -
307,000

-

-

2,812,000

-

-

-

78,000

29,645,000

-

-

2,994,000

-

-

-

-

-

-

-

-

-

2,994,000

78,000

32,457,000

-

-

$

3,712,000 $

78,000 $

35,798,000 $ 22,000 $ 340,000 $

121,000
121,000
428,000

Continued---

82

COBB COUNTY SCHOOL DISTRICT COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2024
ASSETS:
Cash and Cash Equivalents Taxes Intergovernmental Receivable Accounts Receivable Due From Other Funds Inventories
Total Assets
LIABILITIES AND FUND BALANCES:
Liabilities: Accounts Payable Accrued Payroll and Payroll Withholdings Notes Payable Accrued Employee Benefits Accrued Interest Payable Due to Other Funds Unearned Revenue Total Liabilities
Fund Balances: Nonspendable Restricted Committed Assigned Total Fund Balances Total Liabilities and Fund Balances

Special Revenue

Title I

Special Education

Vocational Education

Title II

$

-$

-$

-$

-

5,448,000

5,081,000

113,000

948,000

-

-

-

-

-

-

-

-

-

-

-

-

$

5,448,000 $

5,081,000 $ 113,000 $

948,000

$

2,000 $

-$

-$

1,000

1,011,000

1,362,000

-

120,000

431,000

713,000

-

35,000

4,004,000 -
5,448,000

3,006,000 -
5,081,000

113,000 -
113,000

792,000 -
948,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

$

5,448,000 $

5,081,000 $ 113,000 $

948,000

83

Homeless Grant

USDA Fruits and Vegetables

Special Revenue

Title III

Title IV

CARES ACT

ARPA Funds

$

-$

134,000

-

-

-

$

134,000 $

-$
-$

-$
337,000 -
337,000 $

-$
763,000 -
763,000 $

-$
-$

-
7,971,000 -
7,971,000

$

19,000 $

-

-

115,000 -
134,000

-

-

-

-

$

134,000 $

-$
-
-
-

-$
105,000
36,000
196,000 -
337,000

86,000 $
42,000
10,000
625,000 -
763,000

-
-$

-
337,000 $

-
763,000 $

-$
-
-
-

895,000
1,743,000
471,000
4,862,000 -
7,971,000

-
-$

-
7,971,000

Continued---

84

COBB COUNTY SCHOOL DISTRICT
COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2024

ASSETS:
Cash and Cash Equivalents Taxes Intergovernmental Receivable Accounts Receivable Due From Other Funds Inventories
Total Assets

Special Revenue
Local School Funds

Special Purpose Local Option Sales Tax IV

Capital Projects District Building Fund

Special Purpose Local Option Sales Tax VI

Total

$ 14,551,000 $
38,000 $ 14,589,000 $

632,000 $ 23,595,000 $ 61,697,000 $ 143,864,000

$ 16,398,000 $ 16,398,000

-

-

2,058,000

23,763,000

-

-

-

41,000

-

-

-

48,000

-

-

-

2,812,000

632,000 $ 23,595,000 $ 80,153,000 $ 186,926,000

LIABILITIES AND FUND BALANCES:
Liabilities: Accounts Payable Accrued Payroll and Payroll Withholdings Notes Payable Accrued Employee Benefits Accrued Interest Payable Due to Other Funds Unearned Revenue Total Liabilities
Fund Balances: Nonspendable Restricted Committed Assigned Total Fund Balances
Total Liabilities and Fund Balances

$

-$

278,000 $

155,000 $ 10,996,000 $ 13,401,000

-

-

-

-

5,611,000

7,585,000

7,585,000

-

-

-

-

2,870,000

2,050,000

2,050,000

-

-

-

-

14,467,000

-

-

-

-

1,008,000

-

278,000

155,000

20,631,000

46,992,000

14,589,000 14,589,000
$ 14,589,000 $

-

-

-

2,812,000

354,000

-

59,522,000

89,720,000

-

-

-

23,962,000

-

23,440,000

-

23,440,000

354,000

23,440,000

59,522,000

139,934,000

632,000 $ 23,595,000 $ 80,153,000 $ 186,926,000

Concluded.

85

(This page was left blank intentionally)

COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED June 30, 2024

REVENUES: Taxes Intergovernmental Tuition and Fees Interest Income Athletic Ticket Sales Other
Total Revenues
EXPENDITURES: Current:
Instruction Pupil Services Instructional Services School and Administrative
Services Student Transportation Maintenance and Operation of Plant Student Activities Capital Outlay Debt Service: Interest
Total Expenditures
Excess (Deficiency) of Revenues Over (Under) Expenditures
Other Financing Sources (Uses): Transfers-In Transfers-Out Proceeds from Sale of Capital Assets Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances, Beginning of Year
Fund Balances, End of Year

Donations

Special Revenue

Venue

Mgmt/

After

Public Safety

School Program

Performing Arts/Art
Career and Culture

$

-

-

-

-

538,000

538,000

$

-

-

2,109,000

-

-

2,109,000

$

-

-

11,277,000

-

-

11,277,000

$

-

-

330,000

-

-

330,000

108,000 29,000
135,000
296,000 6,000 23,000 -
597,000

-
903,000 -
863,000 -
1,766,000

1,746,000 -
5,000
8,499,000 -
326,000 -
10,576,000

293,000 -
-
293,000

(59,000)

343,000

701,000

37,000

-

-

-

-

-

-

(447,000)

-

-

-

-

-

-

-

(447,000)

-

(59,000) 912,000

343,000 641,000

254,000 3,677,000

37,000 574,000

$ 853,000 $ 984,000 $ 3,931,000 $ 611,000

86

Tuition School/ Adult High School

Misc. Grants

Special Revenue

School

Nutrition/

FNS Catered Food Service

PRE K Lottery

Adult Education

GNETS

$

-$

-

1,400,000

-

-

1,400,000

24,000
16,000 40,000

$

-

46,075,000

22,804,000

1,586,000

244,000

70,709,000

$

-

650,000

-

-

-

650,000

$

-

1,117,000

-

-

-

1,117,000

$

-

2,549,000

-

-

201,000

2,750,000

1,270,000 2,000
324,000
214,000 -
1,000 -
1,811,000

93,000 24,000
-
50,000 -
167,000

-
72,100,000 -
72,100,000

650,000 -
-
650,000

727,000 -
352,000
38,000 -
1,117,000

2,000,000 679,000 48,000
19,000 6,000 66,000
-
2,818,000

(411,000)

(127,000)

(1,391,000)

279,000 -
279,000

-

-

-

-

-

66,000

-

66,000

(132,000) 3,126,000

(127,000) 205,000

(1,325,000) 33,782,000

$

2,994,000 $

78,000 $ 32,457,000 $

-
-
-
-$

-

(68,000)

-

-

-

-

-

-

-

-

-

(68,000)

-

189,000

- $ 121,000

Continued---

87

COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED June 30, 2024

Special Revenue

REVENUES: Taxes Intergovernmental Tuition and Fees Interest Income Athletic Ticket Sales Other
Total Revenues
EXPENDITURES: Current:
Instruction Pupil Services Instructional Services School and Administrative
Services Student Transportation Maintenance and Operation of Plant Student Activities Capital Outlay Debt Service: Interest
Total Expenditures
Excess (Deficiency) of Revenues Over (Under) Expenditures
Other Financing Sources (Uses): Transfers-In Transfers-Out Proceeds from Sale of Capital Assets Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances, Beginning of Year
Fund Balances, End of Year

Title I

Special Education

Vocational Education

Title II

$

-$

-$

24,079,000

26,332,000

-

-

-

-

-

-

-

-

24,079,000

26,332,000

893,000
893,000

$

-

3,642,000

-

-

-

3,642,000

11,886,000 2,415,000 9,115,000
599,000 64,000
-
24,079,000

14,777,000 2,481,000 5,458,000
1,532,000 2,084,000
-
26,332,000

817,000 -
59,000
17,000 -
893,000

3,427,000
215,000 -
3,642,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

$

-$

-$

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-$

-

88

Special Revenue

Homeless Grant

USDA Fruit and Vegetables

Title III

Title IV

CARES ACT

ARPA Funds

$

-$

-$

-$

-$

-$

-

407,000

159,000

1,698,000

3,068,000

715,000

16,486,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

407,000

159,000

1,698,000

3,068,000

715,000

16,486,000

142,000 146,000
28,000
18,000 73,000
-
407,000

-
159,000 -
159,000

470,000 206,000 1,022,000
-
1,698,000

1,569,000 852,000 590,000
42,000 15,000
-
3,068,000

164,000
-
551,000 -
715,000

15,321,000 85,000
215,000
335,000 383,000 147,000
-
16,486,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

$

-$

-$

-
-
-
-$

-
-
-
-$

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-$

-

Continued---

89

COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2024

Special Revenue

Capital Projects

REVENUES:
Taxes Intergovernmental Tuition and Fees Interest Income Athletic Ticket Sales Other
Total Revenues

Local School Funds

Special Purpose Local Option Sales Tax IV

District Building
Fund

Special Purpose Local Option Sales Tax VI

Total

$

-$

-

27,459,000

-

3,277,000 -

30,736,000

-$

-$

40,000

-

-

-

81,000

1,469,000

-

-

-

79,000

121,000

1,548,000

96,014,000 2,810,000
592,000
99,416,000

$ 96,014,000 130,744,000 65,379,000 3,728,000 3,277,000 1,078,000 300,220,000

EXPENDITURES: Current:
Instruction Pupil Services Instructional Services School and Administrative
Services Student Transportation Maintenance and Operation of Plant Student Activities Capital Outlay Debt Service: Interest
Total Expenditures
Excess (Deficiency) of Revenues Over (Under) Expenditures
Other Financing Sources (Uses): Transfers-In Transfers-Out Proceeds from Sale of Capital Assets Total Other Financing Sources (Uses

-
30,247,000 -
30,247,000
489,000
-

-
2,424,000
2,424,000

-
6,418,000
6,418,000

(2,303,000)

(4,870,000)

-

2,573,000

-

(4,911,000)

-

9,000

-

(2,329,000)

-
92,000 -
36,825,000
1,404,000 38,321,000

51,869,000 7,083,000 20,778,000
85,090,000 2,631,000 2,015,000 30,247,000 45,667,000
1,404,000 246,784,000

61,095,000
(1,573,000)
(1,573,000)

53,436,000
2,852,000 (6,931,000)
75,000 (4,004,000)

Net Change in Fund Balances Fund Balances, Beginning of Year Fund Balances, End of Year

489,000 14,100,000 $ 14,589,000 $

(2,303,000) 2,657,000

(7,199,000) 30,639,000

354,000 $ 23,440,000 $

59,522,000 -

49,432,000 90,502,000

59,522,000 $ 139,934,000

Concluded.

90

COBB COUNTY SCHOOL DISTRICT DONATIONS-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: Local
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$ 538,000 $ 538,000 $ 538,000 $

-

538,000

538,000

538,000

-

EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services General Administration School Administration Business Services Maintenance and Operation of Plant Student Transportation Central Operations Other Support Services Community Services Operations
Total Expenditures

265,000 65,000
159,000 5,000 4,000 4,000
45,000 6,000
811,000 38,000 1,000
1,403,000

265,000 65,000
159,000 5,000 4,000 4,000
45,000 6,000
811,000 38,000 1,000
1,403,000

108,000 29,000
135,000 -
3,000 2,000 23,000 6,000 291,000
-
597,000

157,000 36,000 24,000 5,000 1,000 2,000 22,000 -
520,000 38,000 1,000
806,000

Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year

(865,000) 912,000

(865,000) 912,000

$

47,000 $

47,000 $

(59,000) 912,000 853,000 $

806,000 -
806,000

91

COBB COUNTY SCHOOL DISTRICT
VENUE MANAGEMENT/ PUBLIC SAFETY-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: Local Other
Total Revenues
EXPENDITURES: Maintenance and Operation of Plant Community Service Operations
Total Expenditures

Budgeted Amounts

Original

Final

$ 1,500,000 $ 1,500,000

-

-

1,500,000

1,500,000

1,500,000
1,500,000

1,500,000
1,500,000

Actual Amounts

Variance With Final Budget

$ 2,109,000 $ -
2,109,000

609,000 -
609,000

863,000 903,000
1,766,000

(863,000) 597,000
(266,000)

Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year

641,000

641,000

343,000 641,000

343,000 -

$

641,000 $

641,000 $

984,000 $

343,000

92

COBB COUNTY SCHOOL DISTRICT
AFTER SCHOOL PROGRAM-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: Local
Total Revenues
EXPENDITURES: Instruction Improvement of Instructional Services School Administration Maintenance and Operation of Plant Community Services Operations Other Outlays
Total Expenditures

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$ 10,355,000 $ 10,355,000 $ 11,277,000 $

10,355,000

10,355,000

11,277,000

922,000 922,000

1,259,000 -
9,096,000 -
10,355,000

1,259,000 -
10,314,000 -
11,573,000

1,746,000 5,000 27,000
326,000 8,472,000
447,000 11,023,000

(487,000) (5,000)
(27,000) (326,000) 1,842,000 (447,000) 550,000

Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year

3,677,000

(1,218,000) 3,677,000

254,000 3,677,000

1,472,000 -

$ 3,677,000 $ 2,459,000 $ 3,931,000 $ 1,472,000

93

COBB COUNTY SCHOOL DISTRICT
PERFORMING ARTS/ART CAREER AND CULTURAL PROGRAM-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: Local
Total Revenues
EXPENDITURES: Instruction
Total Expenditures

Budgeted Amounts

Original

Final

$ 423,000 $ 423,000

423,000

423,000

Actual Amounts

Variance With Final Budget

$ 330,000 $ 330,000

(93,000) (93,000)

423,000 423,000

423,000 423,000

293,000 293,000

130,000 130,000

Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year

574,000

574,000

37,000 574,000

$ 574,000 $ 574,000 $ 611,000 $

37,000 -
37,000

94

COBB COUNTY SCHOOL DISTRICT
TUITION SCHOOL/ADULT HIGH SCHOOL-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: Local
Total Revenues
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services Educational Media Services Community Services Operations Maintenance and Operation of Plant
Total Expenditures

Budgeted Amounts

Original

Final

$ 1,400,000 $ 1,402,000

1,400,000

1,402,000

Actual Amounts
$ 1,679,000 1,679,000

Variance With Final Budget

$

277,000

277,000

1,223,000
145,000
8,000 23,000
1,000 1,400,000

1,222,000
1,448,000
8,000 23,000
1,000 2,702,000

1,270,000
2,000 324,000
214,000
1,000 1,811,000

(48,000)
(2,000) 1,124,000
8,000 (191,000)
891,000

Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year

3,126,000

(1,300,000) 3,126,000

(132,000) 3,126,000

1,168,000 -

$ 3,126,000 $ 1,826,000 $ 2,994,000 $ 1,168,000

95

COBB COUNTY SCHOOL DISTRICT MISCELLANEOUS GRANTS-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: Local State Other Sources
Total Revenues
EXPENDITURES: Instruction Pupil Services Instructional Staff Training General Administration
Total Expenditures
Net Change in Fund Balance
Fund Balance, Beginning of Year
Fund Balance, End of Year

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

59,000 $ 104,000 $

- $ (104,000)

-

24,000

24,000

-

-

117,000

16,000

(101,000)

59,000

245,000

40,000

(205,000)

59,000 -
59,000

127,000 24,000 44,000 50,000
245,000

93,000 24,000
50,000 167,000

34,000 -
44,000 -
78,000

205,000

205,000

(127,000) 205,000

(127,000) -

$ 205,000 $ 205,000 $

78,000 $ (127,000)

96

COBB COUNTY SCHOOL DISTRICT SCHOOL NUTRITION/FNS CATERED FOOD SERVICE-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: Local State Federal Other
Total Revenues
EXPENDITURES: School Nutrition Program
Total Expenditures
Net Change in Fund Balance
Fund Balance, Beginning of Year
Fund Balance, End of Year

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$ 23,051,000 $ 23,051,000

1,565,000

1,565,000

34,375,000

38,919,000

150,000

150,000

59,141,000

63,685,000

$ 24,456,000 1,886,000 44,189,000 244,000 70,775,000

$ 1,405,000 321,000
5,270,000 94,000
7,090,000

70,588,000 70,588,000

71,928,000 71,928,000

72,100,000 72,100,000

(172,000) (172,000)

(11,447,000) 337,825,000

(8,243,000) 33,782,000

(1,325,000) 33,782,000

6,918,000 -

$ 326,378,000 $ 25,539,000 $ 32,457,000 $ 6,918,000

97

COBB COUNTY SCHOOL DISTRICT PRE K LOTTERY-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: State
Total Revenues
EXPENDITURES: Instruction
Total Expenditures
Net Change in Fund Balance
Fund Balance, Beginning of Year
Fund Balance, End of Year

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

301,000 $

651,000 $

650,000 $

301,000

651,000

650,000

(1,000) (1,000)

301,000 301,000

651,000 651,000

650,000 650,000

1,000 1,000

-

-

-

-

-

-

-

-

$

-$

-$

-$

-

98

COBB COUNTY SCHOOL DISTRICT ADULT EDUCATION-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: State Federal
Total Revenues
EXPENDITURES: Instruction Improvement of Instructional Services Maintenance of Plant Services
Total Expenditures

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$ 444,000 $ 444,000 $ 428,000 $

721,000

721,000

689,000

1,165,000

1,165,000

1,117,000

(16,000) (32,000)
(48,000)

707,000 423,000 35,000 1,165,000

756,000 371,000
38,000 1,165,000

727,000 352,000
38,000 1,117,000

29,000 19,000
48,000

Net Change in Fund Balance

-

-

-

-

Fund Balance, Beginning of Year

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

99

COBB COUNTY SCHOOL DISTRICT GNETS-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: State Federal Other
Total Revenues
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services Instructional Staff Training General Administration School Administration Maintenance and Operation of Plant Student Transportation
Total Expenditures
Net Change in Fund Balance
Fund Balance, Beginning of Year
Fund Balance, End of Year

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$ 2,677,000 $ 2,224,000 $ 2,224,000 $

315,000

365,000

326,000

110,000

201,000

200,000

3,102,000

2,790,000

2,750,000

(39,000) (1,000) (40,000)

1,998,000 715,000 356,000 27,000 1,000 5,000
3,102,000

2,045,000 662,000 50,000 3,000 22,000 1,000 7,000
2,790,000

2,000,000 679,000 49,000 18,000 1,000 65,000 6,000
2,818,000

45,000 (17,000)
1,000 3,000 4,000
(65,000)
1,000 (28,000)

189,000

189,000

(68,000) 189,000

$ 189,000 $ 189,000 $ 121,000 $

(68,000) -
(68,000)

100

COBB COUNTY SCHOOL DISTRICT TITLE I-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: Federal
Total Revenues
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services Instructional Staff Training Federal Grant Administration General Administration Student Transportation
Total Expenditures
Net Change in Fund Balance
Fund Balance, Beginning of Year
Fund Balance, End of Year

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$ 22,629,000 $ 26,406,000

22,629,000

26,406,000

$ 24,079,000 24,079,000

$ (2,327,000) (2,327,000)

10,770,000 2,322,000 261,000 8,001,000 696,000 524,000 55,000
22,629,000

12,596,000 2,808,000
543,000 8,650,000 1,129,000
565,000 115,000 26,406,000

11,886,000 2,415,000
276,000 7,844,000
994,000 599,000
65,000 24,079,000

710,000 393,000 267,000 806,000 135,000 (34,000)
50,000 2,327,000

-

-

$

-$

-

-

-

-

-

-

-$

-$

-

101

COBB COUNTY SCHOOL DISTRICT SPECIAL EDUCATION-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: Federal
Total Revenues
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services Instructional Staff Training General Administration Student Transportation
Total Expenditures
Net Change in Fund Balance
Fund Balance, Beginning of Year
Fund Balance, End of Year

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$ 21,655,000 $ 23,930,000

21,655,000

23,930,000

$ 26,332,000 26,332,000

$ 2,402,000 2,402,000

10,804,000 1,825,000 6,485,000 1,235,000 1,306,000
21,655,000

12,774,000 1,845,000 5,968,000
2,000 1,402,000 1,939,000 23,930,000

14,777,000 2,481,000 5,457,000
1,000 1,532,000 2,084,000 26,332,000

(2,003,000) (636,000) 511,000 1,000 (130,000) (145,000)
(2,402,000)

-

-

-

-

-

-

-

-

$

-$

-$

-$

-

102

COBB COUNTY SCHOOL DISTRICT VOCATIONAL EDUCATION-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: Federal
Total Revenues
EXPENDITURES: Instructional Instructional Staff Training Federal Grant Administration General Administration
Total Expenditures
Net Change in Fund Balance
Fund Balance, Beginning of Year
Fund Balance, End of Year

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$ 779,000 $ 893,000 $ 893,000 $

-

779,000

893,000

893,000

-

735,000

817,000

817,000

-

11,000

48,000

48,000

-

18,000

11,000

11,000

-

15,000

17,000

17,000

-

779,000

893,000

893,000

-

-

-

-

-

-

-

-

-

$

-$

-$

-$

-

103

COBB COUNTY SCHOOL DISTRICT TITLE II-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: Federal
Total Revenues
EXPENDITURES: Instructional Staff Training Federal Grant Administration General Administration Support Services - Central
Total Expenditures
Net Change in Fund Balance
Fund Balance, Beginning of Year
Fund Balance, End of Year

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$ 2,994,000 $ 4,702,000

2,994,000

4,702,000

$ 3,642,000 3,642,000

$ (1,060,000) (1,060,000)

2,593,000 125,000 69,000 207,000
2,994,000

4,229,000 153,000 118,000 202,000
4,702,000

3,320,000 107,000 91,000 124,000
3,642,000

909,000 46,000 27,000 78,000 1,060,000

-

-

-

-

-

-

-

-

$

-$

-$

-$

-

104

COBB COUNTY SCHOOL DISTRICT HOMELESS GRANT-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: Federal
Total Revenues
EXPENDITURES: Instructional Pupil Services Federal Grant Administration General Administration Student Transportation Other Support Services
Total Expenditures
Net Change in Fund Balance
Fund Balance, Beginning of Year
Fund Balance, End of Year

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

95,000 $ 421,000 $ 407,000 $

(14,000)

95,000

421,000

407,000

(14,000)

5,000 4,000 53,000 2,000 31,000
95,000

163,000 133,000 27,000 11,000 79,000
8,000 421,000

142,000 146,000
28,000 11,000 73,000 7,000 407,000

21,000 (13,000)
(1,000) -
6,000 1,000 14,000

-

-

-

-

-

-

-

-

$

-$

-$

-$

-

105

COBB COUNTY SCHOOL DISTRICT USDA-FRESH FRUITS & VEGETABLES-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: Federal
Total Revenues
EXPENDITURES: School Nutrition
Total Expenditures

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$ 180,000 $ 159,000 $ 159,000 $

-

180,000

159,000

159,000

-

180,000

159,000

159,000

-

180,000

159,000

159,000

-

Net Change in Fund Balance

-

-

-

-

Fund Balance, Beginning of Year

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

106

COBB COUNTY SCHOOL DISTRICT TITLE III-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: Federal
Total Revenues
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services Instructional Staff Training Federal Grant Administration
Total Expenditures

Budgeted Amounts

Original

Final

$ 1,658,000 $ 2,321,000

1,658,000

2,321,000

Actual Amounts

Variance With Final Budget

$ 1,698,000 $ (623,000)

1,698,000

(623,000)

382,000 242,000 811,000 205,000
18,000 1,658,000

712,000 343,000 874,000 372,000 20,000 2,321,000

470,000 206,000 819,000 185,000 18,000 1,698,000

242,000 137,000
55,000 187,000
2,000 623,000

Net Change in Fund Balance

-

-

-

-

Fund Balance, Beginning of Year

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

107

COBB COUNTY SCHOOL DISTRICT
TITLE IV-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: Federal
Total Revenues
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services Instructional Staff Training Federal Grant Administration General Administration Business Support Services Student Transportation Other Support Service
Total Expenditures

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$ 2,108,000 $ 3,107,000 $ 3,068,000 $

2,108,000

3,107,000

3,068,000

(39,000) (39,000)

813,000 449,000 151,000 571,000
59,000 35,000 23,000
7,000 2,108,000

1,379,000 834,000 68,000 677,000 67,000 15,000 28,000 24,000 15,000
3,107,000

1,569,000 852,000 55,000 473,000 63,000 26,000 15,000 15,000
3,068,000

(190,000) (18,000) 13,000 204,000 4,000 15,000 2,000 9,000 39,000

Net Change in Fund Balance

-

-

-

-

Fund Balance, Beginning of Year

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

108

COBB COUNTY SCHOOL DISTRICT CARES ACT FUNDING-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: Federal
Total Revenues
EXPENDITURES: Instructional Staff Training Maintenance and Operation of Plant
Total Expenditures
Net Change in Fund Balance
Fund Balance, Beginning of Year
Fund Balance, End of Year

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$ 764,000 $ 764,000 $ 715,000 $

764,000

764,000

715,000

(49,000) (49,000)

164,000 600,000
764,000

164,000 600,000
764,000

164,000 551,000
715,000

49,000
49,000

-

-

-

-

-

-

-

-

$

-$

-$

-$

-

109

COBB COUNTY SCHOOL DISTRICT AMERICAN RESCUE PLAN (ARP)-ESSER III-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2024

REVENUES: Federal
Total Revenues
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services Instructional Staff Training General Administration School Administration Maintenance and Operation of Plant Student Transportation School Nutrition Program Community Services Operations
Total Expenditures
Net Change in Fund Balance
Fund Balance, Beginning of Year
Fund Balance, End of Year

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$ 18,909,000 $ 18,909,000

18,909,000

18,909,000

$ 16,486,000 16,486,000

$ (2,423,000) (2,423,000)

17,769,000 139,000 71,000 13,000 327,000 134,000 145,000 189,000 66,000 56,000
18,909,000

17,769,000 139,000 71,000 13,000 327,000 134,000 145,000 189,000 66,000 56,000
18,909,000

15,322,000 85,000
156,000 59,000 183,000 60,000 146,000 383,000 57,000 35,000 16,486,000

2,447,000 54,000 (85,000) (46,000) 144,000 74,000 (1,000)
(194,000) 9,000 21,000
2,423,000

-

-

-

-

-

-

-

-

$

-$

-$

-$

-

110

Internal Service Funds These funds are established to account for the financing of goods or services provided by one department to other departments on a cost-reimbursement basis. The District has two individual funds in the Internal Service Funds category. The Unemployment Compensation and SelfInsurance are used to account for the District's self-insurance programs.
111

COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF FUND NET POSITION INTERNAL SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2024

Assets:
Current Assets: Cash Total Current Assets
Liabilities:
Current Liabilities: Accounts Payable Claims Payable, due within one year Total Current Liabilities
Noncurrent liabilities: Claims payable, due in more than one year
Total Liablilities
Net Position:
Unrestricted

Unemployment Compensation
Fund

SelfInsurance
Fund

Total

$ 294,000 $ 12,103,000 $ 12,397,000

294,000

12,103,000

12,397,000

-

122,000

122,000

-

2,491,000

2,491,000

-

2,613,000

2,613,000

-

5,400,000

5,400,000

-

8,013,000

8,013,000

$ 294,000 $ 4,090,000 $ 4,384,000

112

COBB COUNTY SCHOOL DISTRICT
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITION
INTERNAL SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2024

OPERATING REVENUES: Charges for Services
Total Revenues
OPERATING EXPENSES: School and Administrative Services
Total Expenses
Change in Net Position
Total Net Position, Beginning of Year
Total Net Position, End of Year

Unemployment Compensation
Fund

SelfInsurance
Fund

Total

$

114,000 $ 9,669,000 $ 9,783,000

114,000

9,669,000

9,783,000

-

11,392,000

11,392,000

-

11,392,000

11,392,000

114,000 180,000

(1,723,000) 5,813,000

(1,609,000) 5,993,000

$

294,000 $ 4,090,000 $ 4,384,000

113

COBB COUNTY SCHOOL DISTRICT STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2024
Cash Flows from Operating Activities: Receipts from Interfund Services Provided Payments to Suppliers Payments for Medical Fees and Insurance Claims Payments to Employees
Net Cash Provided by /(Used in) Operating Activities
Net Change in Cash and Cash Equivalents
Cash and Cash Equivalents at Beginning of Year
Cash and Cash Equivalents at End of Year
Reconciliation of Operating Income/(Loss) to Net Cash Provided by/ ( Used in) Operating Activities: Operating Income/ (Loss) Adjustments to Reconcile Operating Income/(Loss) to Net Cash Provided by/ (Used in) Operating Activities: Increase in Claims Payable Decrease in Accounts Payable Decrease in Accrued Payroll and Payroll Withholdings Total Adjustments
Net Cash Provided by (Used in) Operating Activities

Unemployment Compensation
Fund

SelfInsurance
Fund

Total

$

112,000 $

9,669,000 $ 9,781,000

-

(1,188,000)

(1,188,000)

-

(9,607,000)

(9,607,000)

-

(591,000)

(591,000)

112,000

(1,717,000)

(1,605,000)

112,000 182,000 294,000

(1,717,000) 13,820,000 12,103,000

(1,605,000) 14,002,000 12,397,000

$

114,000 $

(1,723,000) $ (1,609,000)

(2,000)
(2,000)

55,000 (46,000)
(3,000) 6,000

55,000 (48,000)
(3,000) 4,000

$

112,000 $

(1,717,000) $ (1,605,000)

114

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COBB COUNTY SCHOOL DISTRICT SPLOST 4 - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2024

LOCATION/DESCRIPTION

Approved Budget

ACWORTH INTERMEDIATE ADDISON ES ADULT EDUCATION CENTER ALLATOONA HS ARGYLE ES ASIPRE @ SKY VIEW ASPIRE @ HAWTHORNE AUSTELL ES AWTREY MS BAKER ES BAKER ROAD BUS SHOP BARBER MS BELLS FERRY ES BELMONT HILLS ES BETTY GRAY MS BIG SHANTY ES BIRNEY ES BLACKWELL ES BRUMBY ES BRUMBY REPLACEMENT ES BRYANT ES BULLARD ES CAMPBELL HS CAMPBELL MS CHALKER ES CHEATHAM HILL ES CITYVIEW ES CLARKDALE REPLACEMENT ES CLAY ES CLAY-HARMONY LELAND REPLACEMENT ES COBB INNOVATION & TECHNOLOGY (CITA) COMPTON ES COOPER MS DANIELL MS DAVIS ES DICKERSON MS DODGEN MS DOWELL ES DUE WEST ES DURHAM MS EAST COBB MS EAST COBB REPLACEMENT MS EAST SIDE REPLACEMENT ES EASTVALLEY ES FAIR OAKS ES FITZHUGH LEE FLOYD MS FORD ES FREY ES GARRETT MS GARRISON MILL ES GREEN ACRES ES GRIFFIN MS HARMONY LELAND ES HARRISON HS HAWTHORNE ADMINISTRATION HAYES ES HENDRICKS ES HIGHTOWER TRAIL MS HILLGROVE HS HOLLYDALE ES HORIZON HS KEHELEY ES KELL HS KEMP ES KENNESAW ES KENNESAW MOUNTAIN HS KENNESAW WAREHOUSE KINCAID ES KING SPRINGS ES KING SPRINGS PRIMARY (K-1)

508,194 2,332,467
143,982 285,769 247,408
25,663 212,135 3,733,047 761,365
162,172 292,368
25,663 876,943 559,312 461,049 149,157 403,159 23,330,216 3,311,777 487,680 26,034,595 6,032,596 372,035 1,004,221
6,416 -
1,402,438 -
29,884,398 713,483 972,053
5,304,276 575,203
1,391,811 3,105,288 3,455,215
57,742 459,338 3,661,474 29,125,616
54,534 117,079 277,470
1,412,827
984,706 725,907 3,743,963 320,873 534,205 1,500,906
86,000 27,497,531
4,742,176
383,330 2,519,268
580,902 788,445 386,339 1,418,099 613,703 327,289 2,908,159 1,479,566 6,500,000 3,816,562 361,762
85,000

Revised Budget
1,207,025 1,179,849
397,656 2,458,974
773,724 919,077
20,828 785,149 1,277,329 1,672,206
35,767 1,269,494 1,326,328 1,011,591
896,550 1,325,401 1,458,319 1,094,770 1,171,834 26,699,141 1,657,025 1,455,178 19,124,347 7,985,136 1,034,321 2,634,065 1,416,623 1,071,410
898,046 12,276
23,191,529 1,250,490 1,414,050 1,563,206 1,119,476 1,586,584 3,786,960 1,484,654 1,093,711 1,382,832 1,068,188
38,266,653 1,293,595 990,602 1,486,426 11,667 1,225,749 1,504,272 2,738,051 4,487,634 1,188,964 2,234,822 3,174,578 955,474
28,388,415 247,875
5,806,431 1,854,415 3,789,424 3,222,887 1,126,235
910,061 1,088,125 2,670,122 1,837,030 1,028,977 3,022,346 14,029,601 1,011,612 1,297,282
143,963

Expended Inception through 06/30/24
1,207,020 1,179,844
397,656 2,443,387
773,719 919,074
20,828 785,145 1,277,322 1,672,199
35,767 1,269,489 1,326,321 1,011,585
896,546 1,325,393 1,458,310 1,094,766 1,171,829 26,699,132 1,657,019 1,455,174 19,116,653 7,985,131 1,034,317 2,634,059 1,416,618 1,071,404
898,041 12,276
23,191,529 1,250,486 1,414,046 1,563,200 1,119,470 1,586,579 3,786,955 1,484,649 1,093,707 1,382,828 1,068,185
38,266,644 1,293,590 990,596 1,486,419 11,667 1,225,745 1,504,264 2,738,046 4,487,629 1,188,960 2,234,817 3,174,572 955,469
28,388,407 247,875
5,806,421 1,854,410 3,789,419 3,222,878 1,126,229
910,057 1,088,119 2,653,758 1,686,078 1,028,972 3,013,228 14,026,297 1,011,607 1,297,276
143,963

Expended FY24
3,267 22,119 264 264 3,157 264 3,742 340,457 2,361 264 264 263 264 264 25,069 264 264 264 1,889 11,737 21,334 24,359 264 73,531 1,488 264 264 161,584 264 264 38,389 138,087 264 264 264 97,500 10,052 264 322,114 2,066 3,870 264 353 -

Encumbered as of 6/30/24
15,582 7,675 16,357 87,091 9,111 -

Uncommitted
5 5 5 5 3 4 7 7 5 7 6 4 8 9 4 5 9 6 4 19 5 4 6 5 6 5 4 4 6 6 5 5 5 4 4 3 9 5 6 7 4 8 5 5 4 5 6 5 8 10 5 5 9 6 4 6 7 63,861 5 7 3,304 5 6 -

115

COBB COUNTY SCHOOL DISTRICT SPLOST 4 - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2024

LOCATION/DESCRIPTION
KING SPRINGS REPLACEMENT ES LABELLE ES LASSITER HS LEWIS ES LINDLEY MS LOST MOUNTAIN MS LOVINGGOOD MS MABLETON ES MABRY MS MAINTENANCE FACILITY ARGO ROAD MARS HILL ROAD BUS SHOP MARTHA MOORE EDUCATION CENTER MCCALL PRIMARY MCCLESKEY MS MCCLURE MS MCEACHERN HS MILFORD ES MOUNT BETHEL ES MOUNTAIN VIEW ES MOUNTAIN VIEW REPLACEMENT ES MURDOCK ES NICHOLSON ES NICKAJACK ES NORTH COBB HS NORTON PARK ES OSBORNE HS OSBORNE REPLACEMENT HS PALMER MS PEARSON MS PEBBLEBROOK HS PICKETT'S MILL ES PINE MOUNTAIN MS PITNER ES PITTS TRANSPORTATION CENTER POPE HS POWDER SPRINGS ES POWERS FERRY ES RIVERSIDE ES ROCKY MOUNT ES ROSE GARDEN RUSSELL ES SANDERS ES SANDERS ROAD BUS SHOP SEDALIA PARK ES SHALLOWFORD FALLS ES SIMPSON MS SMITHA MS SMYRNA ES SOPE CREEK ES SOUTH COBB EARLY LEARNING CENTER SOUTH COBB HS SPRAYBERRY HS STILL ES SYSTEMWIDE TAPP MS TEASLEY ES TIMBER RIDGE ES TRITT ES VARNER ES VAUGHN ES WALTON HS WALTON REPLACEMENT HS WHEELER HS 440 GLOVER STREET 484 GLOVER STREET 514 GLOVER STREET 538 GLOVER STREET 560 GLOVER STREET 580 GLOVER STREET 590 COMMERCE PARK 650 SOUTH COBB DR

Approved Budget
160,393 13,447,646 3,396,001 848,625 7,079,609
32,079 96,236 938,206
32,079 2,413,932 8,737,474 64,157 3,744,478 2,695,904 23,330,216 319,277 2,306,880 2,258,194 23,328,254 756,708 3,290,500 29,900,000 25,663 4,438,112 28,870 2,677,281 128,710 30,000,000 20,943,137 624,080 189,873 53,892 532,668 3,334,456 881,756 28,870 670,531 470,438 1,521,727 3,469,077 17,960,694 1,072,858 3,383,412 201,887,135 5,049,770 4,749,141 534,845 3,490,899 320,873 600,441 1,493,167 39,946,400 22,124,756 -

TOTAL PROJECT EXPENDITURES

$ 717,844,705 $

Revised Budget
2,193 1,125,962 20,414,218 1,757,030 1,289,221 8,977,547 1,547,330 1,369,132 2,079,365
37,875 45,831 14,682 685,251 2,351,941 1,452,050 11,272,330 787,063 1,410,154 737,569 31,763,588 1,122,359 1,043,975 1,810,902 29,099,998 1,362,911 2,629,149 64,418,579 1,376,065
2,793 5,651,328 1,109,135 1,012,469 1,216,833 27,212,035 28,279,231 2,050,822
629,880 908,555 915,075
52,639 1,065,094 1,138,235 1,622,645 1,614,137 1,765,708 1,155,150 1,868,653
841,839 4,958,669
158,083 13,774,701
3,071,669 1,235,234 9,954,364 1,275,381 5,591,122
993,740 1,611,697 1,728,111 1,092,272 1,008,363 95,621,171 28,426,139 11,714,729
66,224 11,000,181
54,701 138,872 173,632
41,391 331,602
720,362,981 $

Expended Inception through 06/30/24
2,193 1,125,955 20,362,965 1,757,022 1,289,216 8,977,542 1,547,326 1,369,126 2,079,362
37,875 45,831 14,682 685,247 2,351,936 1,452,046 11,272,323 787,057 1,410,147 737,564 31,763,583 1,122,354 1,043,968 1,810,893 29,099,985 1,362,906 2,629,142 64,410,390 1,376,061
2,793 5,643,644 1,109,129 1,012,463 1,216,828 27,212,033 28,279,221 2,050,817
629,877 908,549 915,070
52,639 1,065,090 1,138,228 1,622,645 1,614,129 1,765,699 1,155,143 1,868,648
841,834 4,958,660
158,083 13,766,812
3,062,618 1,235,231 8,265,549 1,275,377 5,591,114
993,733 1,611,689 1,728,103 1,092,264 1,008,360 95,608,062 28,426,127 11,714,725
66,224 11,000,177
54,701 138,870 173,632
41,391 331,602
718,373,350 $

Expended FY24
264 43,565 264 264 3,003 264 264 264 3,267 21,264 96,025 263 263 263 44,234 20,163 4,260 20,264 164,256 184,862 263 31,154 263 8,228 4,031 46,462 21,229 263 263 263 356,993 10,979 22,058 -
2,424,053 $

Encumbered as of 6/30/24
51,245 7,707 7,675 7,875 9,043 -

Uncommitted
7 8 8 5 5 4 6 3
-
4 5 4 7 6 7 5 5 5 7 9 13 5 7 482 4 9 6 6 5 2 10 5 3 6 5 4 7 8 9 7 5 5 9 14 8 3 1,688,815 4 8 7 8 8 8 3 13,109 12 4 4 2 -

219,361 $

1,770,270

116

COBB COUNTY SCHOOL DISTRICT SPLOST 5 - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2024

LOCATION/DESCRIPTION

Approved Budget

ACWORTH INTERMEDIATE

-

ADDISON ES

-

ADULT EDUCATION CENTER

-

ALLATOONA HS

-

ARGYLE ES

-

AUSTELL ES

-

AWTREY MS

-

BAKER ES

-

BAKER ROAD BUS SHOP

-

BARBER MS

-

BELLS FERRY ES

-

BELMONT HILLS ES

-

BETTY GRAY MS

-

BIG SHANTY ES

-

BIRNEY ES

-

BLACKWELL ES

-

BROWN LEARNING CENTER

-

BRUMBY REPLACEMENT ES

-

BRYANT ES

-

BULLARD ES

-

CAMPBELL HS

-

CAMPBELL MS

-

CHALKER ES

-

CHEATHAM HILL ES

-

CITY VIEW ES

-

CLARKDALE ES

-

CLARKDALE OLD ES

CLAY ES

-

CLAY-HARMONY LELAND REPLACEMENT ES

-

COBB INNOVATION & TECHNOLOGY

-

COMPTON ES

-

COOPER MS

-

DANIELL MS

-

DAVIS ES

-

DICKERSON MS

-

DODGEN MS

-

DOWELL ES

-

DUE WEST ES

-

DURHAM MS

-

EAST COBB REPLACEMENT MS

-

EAST SIDE REPLACEMENT ES

-

EASTVALLEY ES

-

EASTVALLEY REPLACEMENT ES

-

FACTORY SHOALS BUS SHOP

-

FAIR OAKS ES

-

FLOYD MS

-

FORD ES

-

FREY ES

-

GARRETT MS

-

GARRISON MILL ES

-

GREEN ACRES ES

-

GRIFFIN MS

-

HARRISON HS

-

HAVEN @ SKY VIEW

-

HAYES ES

-

HENDRICKS ES

-

HIGHTOWER TRAIL MS

-

HILLGROVE HS

-

HOLLYDALE ES

-

HORIZON HS

-

HORIZON RELOCATION HS

-

INTERNATIONAL WELCOME CENTER

-

KEHELEY ES

-

KELL HS

-

KEMP ES

-

KENNESAW ES

-

KENNESAW MOUNTAIN HS

-

KENNESAW WAREHOUSE

-

KINCAID ES

-

KING SPRINGS ES

-

Revised Budget
1,400,830 4,979,700
52,019 3,277,389 1,036,407
670,681 11,017,784 2,108,514
265,062 2,551,382
864,429 3,664,760 14,048,458 1,066,912 1,218,829 1,014,379
20,581 518,725 6,685,056 1,313,788 50,480,732 6,923,577 1,768,559 1,378,253 2,321,227 640,849
2,032 181,998 32,557,210
743,144 1,925,191 8,517,516 1,370,739 7,116,570 6,182,394 6,909,489 1,656,780 6,033,867 977,478 1,524,184 643,370 44,189,466 1,041,037 1,348,188 5,144,334 3,485,882 1,239,470 6,519,264 1,565,033 952,970 4,164,700 4,111,571 907,257 2,693,884 994,263 1,713,688 14,452,520 1,266,439 177,884 11,408,123 62,607 1,131,774 2,512,720 1,520,096 4,244,535 4,324,299 9,684,910 1,555,672 280,468

Expended Inception through 06/30/24
984,985 4,436,064
52,019 2,717,871
984,944 663,433 9,070,867 1,792,030 184,730 2,498,224 789,768 3,568,759 12,663,211 1,028,854 1,141,806 1,007,612 20,581 518,684 6,659,929 1,194,668 48,640,021 6,228,725 1,085,320 1,314,323 2,171,453 623,330
2,032 181,998 32,539,993
656,243 1,918,292 7,367,178 999,927 6,863,833 6,027,215 6,801,946 1,656,654 2,403,198 883,411 1,518,394 629,944 43,926,950 1,040,815 1,321,514 3,671,401 3,309,202 1,232,531 6,149,664 1,554,559 918,949 3,456,404 4,042,602 711,853 2,380,401 844,338 1,708,028 10,926,235 1,080,191 174,821 11,397,985 51,630 779,686 2,456,501 1,465,300 1,252,112 4,128,472 8,071,110 1,274,468 273,053

Expended FY24
41,382 79,345 1,520 128,010 20,549 46,948 5,473,644 790,433 109,854 475,190 406,547 409,477 3,180,826 226,230 39,349 182,524
19,782 298,931 171,616 72,111 208,614 264,949 238,436 355,967 35,816
3,663 16,947 154,951 2,037,485 293,660 3,722,906 2,314,253 10,008 156,468 1,175,914 204,807 295,657 6,564,219 12,869 314,709 2,533,071 626,386 129,066 4,049,015 325,235 186,435 614,392 402,080 427,895 398,677 28,587 191,439 426,972 245,981 5,078 9,286 11,138 90,805 365,636 641,229 1,878,477 232,603 1,153

Encumbered as of 6/30/24
396,673 -
61,973 19,710 2,329 887,416 229,748 6,410 24,647 51,024 23,869
4,015 7,910 5,575
112,536 65,812 21,870 74,054 63,805 124,102 3,057 2,090 3,937 334,653 19,003 41,515 3,937 2,437,402 38,992 2,048 118,318 24,709 893,299 134,587 6,176 120,443 6,396 7,095 187,356 17,286 157,196 12,059 146,098 933 4,306 34,560 6,255 165,928 4,306 54,760 48,217 127,776 22,448 75,931 -

Uncommitted
19,172 543,636
497,545 31,753
4,919 1,059,501
86,736 73,922 28,511 23,637 72,132 1,385,247 34,043 69,113
1,192 -
41 25,127 6,584 1,774,899 672,982 609,185
125 25,672 14,462
17,217 84,811 6,899 1,146,401 36,159 233,734 113,664 103,606 126 1,193,267 55,075 3,742 13,426 144,198 222 1,965 579,634 42,093 763 249,157 4,078 26,926 520,940 51,683 38,208 301,424 3,827 4,727 3,521,979 151,688 3,063 3,883 10,977 186,160 51,913 36 2,944,206 68,051 1,591,352 205,273 7,415

117

COBB COUNTY SCHOOL DISTRICT SPLOST 5 - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2024

LOCATION/DESCRIPTION
KING SPRINGS PRIMARY (K-1) KING SPRINGS REPLACEMENT ES LABELLE ES LASSITER HS LEWIS ES LINDLEY MS LOST MOUNTAIN MS LOVINGGOOD MS MABLETON ES MABRY MS MAINTENANCE FACILITY ARGO ROAD MARS HILL ROAD BUS SHOP MCCALL PRIMARY MCCLESKEY MS MCCLURE MS MCEACHERN HS MILFORD ES MOUNT BETHEL ES MOUNTAIN VIEW ES MURDOCK ES NICHOLSON ES NICKAJACK ES NORTH COBB HS NORTON PARK ES OSBORNE HS OSBORNE REPLACEMENT HS PALMER MS PEARSON MS PEBBLEBROOK HS PICKETT'S MILL ES PINE MOUNTAIN MS PITNER ES PITTS TRANSPORTATION CENTER POPE HS POWDER SPRINGS ES POWERS FERRY ES RIVERSIDE ES ROCKY MOUNT ES ROSE GARDEN RUSSELL ES SANDERS ES SANDERS ROAD BUS SHOP SEDALIA PARK ES SHALLOWFORD FALLS ES SIMPSON MS SMITHA MS SMYRNA ES SOPE CREEK ES SOUTH COBB EARLY LEARNING CENTER SOUTH COBB HS SPRAYBERRY HS STILL ES SYSTEMWIDE SYSTEMWIDE UNALLOCATED TAPP MS TEASLEY ES TIMBER RIDGE ES TRITT ES VARNER ES VAUGHN ES VETERANS MEMORIAL BUS SHOP WALTON REPLACEMENT HS WHEELER HS 440 GLOVER STREET 484 GLOVER STREET 514 GLOVER STREET 560 GLOVER STREET 580 GLOVER STREET 650 SOUTH COBB DR

Approved Budget
797,022,000 -
-

TOTAL PROJECT EXPENDITURES

$ 797,022,000 $

Revised Budget
82,226 40,499,912 3,243,768 25,555,194 6,274,106 2,268,362 3,877,768 7,466,018
866,812 1,636,859
36,049 288,002 1,307,815 1,152,939 1,458,443 6,085,121 6,743,762 5,357,594 514,899 1,320,911 6,754,663 1,111,782 10,220,621 1,501,087 1,337,856 16,300,007 2,501,381 45,201,067 69,777,373 1,368,491 1,611,614 983,125 19,968,267 4,353,234 957,229 798,026 1,140,084 1,523,426
3,696,622 4,701,157
136,502 801,412 1,561,306 1,760,870 2,119,829 1,255,739 1,959,644 795,877 31,313,219 29,627,856 3,596,168 39,118,510 26,059,332 2,796,349 1,231,913 822,560 1,540,749 1,350,587 1,807,396 7,453,687 18,599,221 10,743,963 1,219,908 18,442,057 58,177,442
25,349 29,814 1,801,355

Expended Inception through 06/30/24
82,226 40,488,932
3,196,672 15,278,676
6,181,321 2,249,740 3,506,181 7,402,019
744,326 1,228,699
35,235 201,214 1,099,948 1,108,183 1,431,599 5,624,041 4,443,903 4,689,346 512,433 1,310,077 6,045,276 1,056,402 9,805,632 1,078,929 1,337,856 15,996,087 2,495,577 45,160,474 66,173,213 995,347 1,611,304 617,176 14,548,043 4,131,123 860,923 613,009 1,061,743 1,337,411
1,497,765 4,621,195
60,706 653,408 1,208,881 1,523,126 1,824,216 1,242,786 1,693,041 779,960 24,338,788 29,603,712 1,465,932 21,528,080
2,491,540 1,112,543
822,430 1,265,864 1,332,466 1,538,044 1,168,922 17,980,231 9,161,255 1,212,229 17,597,061 50,818,968
25,329 29,746 1,382,861

908,316,184 $

777,814,625 $

Expended FY24
18,450 198,393 8,494,503 36,241 395,421 1,027,604 559,738 39,197 67,002
89,741 531,660 100,119 119,420 824,650 3,011,939 67,292 19,218 267,705 5,316,922 214,446 2,158,018 171,471 8,411 99,411 194,073 115,627 7,608,640 162,775 580,226 124,856 3,446,637 764,739 127,568 12,928 3,258 270,619
67,090 311,996 3,705 12,352 227,207 436,055 358,405 12,830 77,517 20,402 19,662,392 1,158,153 753,246 2,401,288
272,742 212,123
86,624 279,672 341,782 334,272
49,828 1,674,041 4,650,773
987,390 7,281,682
8,302 -
423,747
123,731,736 $

Encumbered as of 6/30/24
1,381 7,836,570 6,836 291,203 31,962 89,213 351,691 1,295 179,035 44,756 23,373 116,000 1,551,401 30,451 888 465,614 34,522 194,961 389,393 4,339 4,670 604 70,870 293,100 348,557 4,571,932 80,963 61,600 131,286 77,490 180,595 267,617 946 1,295 147,836 332,345 197,336 238,499 3,837 252,368 1,861 6,433,093 208,638 265,102 82,362 262,119 17,547 249,349 179,664 295,661 29,957 4,357,036 107,107

Uncommitted
10,980 45,715 2,439,948 85,949 18,622 80,384 32,037 33,273 56,469
814 85,493 28,832
3,471 345,080 748,458 637,797 1,578 10,834 243,773 20,858 220,028 32,765
299,581
1,134 39,989 3,533,290 80,044
310 17,392 848,292 141,148 34,706 53,731
851 5,420
1,931,240
79,016 74,501
168 20,080 40,408 57,114 9,116 14,235 14,056 541,338 24,144
1,921,598 17,590,430 26,059,332
39,707 37,008
130 12,766
574 20,003 6,105,101 618,990 1,287,047 7,679 815,039 3,001,438
20 68 311,387

38,844,676 $ 91,656,883

118

COBB COUNTY SCHOOL DISTRICT SPLOST 6 - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2024

LOCATION/DESCRIPTION

Approved Budget

ACWORTH INTERMEDIATE

-

ADDISON ES

-

ALLATOONA HS

-

ARGYLE ES

-

ASPIRE @ SKY VIEW

-

AUSTELL ES

-

AWTREY MS

-

BAKER ES

-

BARBER MS

-

BELLS FERRY ES

-

BELMONT HILLS ES

-

BETTY GRAY MS

-

BIG SHANTY ES

-

BIRNEY ES

-

BLACKWELL ES

-

BRUMBY REPLACEMENT ES

-

BRYANT ES

-

BULLARD ES

-

CAMPBELL HS

-

CAMPBELL MS

-

CHALKER ES

-

CHEATHAM HILL ES

-

CITY VIEW ES

-

CLARKDALE ES

-

CLAY-HARMONY LELAND REPLACEMENT ES

-

COBB INNOVATION & TECHNOLOGY

-

COMPTON ES

-

COOPER MS

-

DANIELL MS

-

DAVIS ES

-

DICKERSON MS

-

DODGEN MS

-

DOWELL ES

-

DUE WEST ES

-

DURHAM MS

-

EAST COBB REPLACEMENT MS

-

EAST SIDE REPLACEMENT ES

-

EASTVALLEY REPLACEMENT ES

-

FAIR OAKS ES

-

FLOYD MS

-

FORD ES

-

FREY ES

-

GARRETT MS

-

GARRISON MILL ES

-

GREEN ACRES ES

-

GRIFFIN MS

-

HARRISON HS

-

HAYES ES

-

HENDRICKS ES

-

HIGHTOWER TRAIL MS

-

HILLGROVE HS

-

HOLLYDALE ES

-

HORIZON HS RELOCATION

-

KEHELEY ES

-

KELL HS

-

KEMP ES

-

KENNESAW ES

-

KENNESAW MOUNTAIN HS

-

KENNESAW WAREHOUSE

-

KINCAID ES

-

KING SPRINGS REPLACEMENT ES

-

LABELLE ES

-

LASSITER HS

-

Revised Budget
1,286,081 123,353 539,172 698,872 76,261 104,792 264,238 361,379 287,349
25,206,675 221,038 242,699 123,111 157,304
10,487,902 192,420
3,411,511 161,244 769,218 376,989 142,180 183,061 175,861 340,919 187,268 41,000 135,890 309,777 312,338 120,098 339,924 354,922 172,848 281,237 298,953 386,074 174,204 77,717 168,747 408,408
2,688,411 147,111
6,320,412 123,353 311,260 343,385
1,089,106 155,966 131,241 298,623 552,457 144,926 329,829 104,872 515,136 155,805 132,816 902,560
1,490,000 7,364,264
205,081 112,738 524,164

Expended Inception through 06/30/24
16,899 13,037 29,981 64,700 45,323 65,582 17,986 221,388 19,610 480,649 181,735 87,875 14,393 110,438 2,548,091 137,848 130,831 18,459 287,698 134,765 93,362 129,918 127,616 293,314 128,970
92,481 112,101 20,697 13,715 120,874 123,176 125,685 234,134 18,932 144,524 122,397 77,717 119,994 111,600 164,468 16,899 1,304,801 81,980 265,290 118,470 506,918 16,426 81,915 105,053 207,031 100,308 113,317 66,363 157,940 107,560 16,221 42,434 368,128 13,510 143,538 71,747 186,565

Expended FY24
16,899 13,037 29,981 64,700 45,323 65,582 17,986 221,388 19,610 480,649 181,735 87,875 14,393 110,438 2,548,091 137,848 130,831 18,459 287,698 134,765 93,362 129,918 127,616 293,314 128,970
92,481 112,101 20,697 13,715 120,874 123,176 125,685 234,134 18,932 144,524 122,397 77,717 119,994 111,600 164,468 16,899 1,304,801 81,980 265,290 118,470 506,918 16,426 81,915 105,053 207,031 100,308 113,317 66,363 157,940 107,560 16,221 42,434 368,128 13,510 143,538 71,747 186,565

Encumbered as of 6/30/24
144,982 89,709
428,307 53,628 20,766
196,651 112,272 215,988 888,062
20,766 107,374
85,948 20,850 7,421,044 22,767 158,272 113,525 375,749 185,557 22,102 22,102 20,766 20,766 20,766
22,102 146,232 238,354 84,695 164,225 177,228 20,766 20,766 229,191 181,811 20,766
23,438 192,264 66,659 103,497 4,520,080 20,766 20,766 169,039 420,430 113,525 20,766 144,891 262,392 20,766 158,671 20,766 277,847 20,766 90,962 451,595 168,891 400,327 20,766 20,766 255,179

Uncommitted
1,124,200 20,607 80,884
580,544 30,938 18,444 49,601 27,719 51,751
23,837,964 18,537 47,450 22,770 26,016
518,767 31,805
3,122,408 29,260
105,771 56,667 26,716 31,041 27,479 26,839 37,532 41,000 21,307 51,444 53,287 21,688 54,825 54,518 26,397 26,337 50,830 59,739 31,041 25,315
104,544 2,457,284
26,715 495,531
20,607 25,204 55,876 161,758 26,015 28,560 48,679 83,034 23,852 57,841 17,743 79,349 27,479 25,633 408,531 952,981 6,950,427 40,777 20,225 82,420

119

COBB COUNTY SCHOOL DISTRICT SPLOST 6 - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2024

LOCATION/DESCRIPTION
LEWIS ES LINDLEY MS LOST MOUNTAIN MS LOVINGGOOD MS MABLETON ES MABRY MS MAINTENANCE FACILITY ARGO ROAD MCCALL PRIMARY MCCLESKEY MS MCCLURE MS MCEACHERN HS MILFORD ES MOUNT BETHEL ES MOUNTAIN VIEW ES MURDOCK ES NICHOLSON ES NICKAJACK ES NORTH COBB CITA NORTH COBB HS NORTON PARK ES OSBORNE REPLACEMENT HS PALMER MS PEARSON MS PEBBLEBROOK HS PICKETT'S MILL ES PINE MOUNTAIN MS PITNER ES PITTS TRANSPORTATION CENTER POPE HS POWDER SPRINGS ES POWERS FERRY ES RIVERSIDE ES ROCKY MOUNT ES ROSE GARDEN RUSSELL ES SANDERS ES SEDALIA PARK ES SHALLOWFORD FALLS ES SIMPSON MS SMITHA MS SMYRNA ES SOPE CREEK ES SOUTH COBB AREA ES SOUTH COBB EARLY LEARNING CENTER SOUTH COBB HS SPRAYBERRY HS SPRAYBERRY HS REPLACEMENT STILL ES SYSTEMWIDE SYSTEMWIDE UNALLOCATED TAPP MS TEASLEY ES TIMBER RIDGE ES TRITT ES VARNER ES VAUGHN ES WALTON REPLACEMENT HS WHEELER HS 484 GLOVER STREET 514 GLOVER STREET 580 GLOVER STREET 650 SOUTH COBB DRIVE

Approved Budget
894,891,903 -

Revised Budget
127,722 5,438,679
317,843 383,562 484,581 319,892 1,600,000
95,431 265,645 322,820 663,222 112,232 9,604,432 411,642 7,559,424 109,220 6,975,713 24,642,118 728,061 151,699 733,480 308,689 298,719 679,248 585,840 272,642 388,756 4,389,760 3,339,438 152,528 928,964 121,268 114,234 901,845 139,003 184,137 1,799,029 6,828,295 737,292 340,134 173,274 11,726,984 1,603,685
28,831 1,563,742 1,431,556 97,780,019
393,730 59,778,609 523,118,910 19,585,515
165,753 5,082,584 8,439,283
148,445 132,069 661,655 677,474 3,075,594 324,485 1,338,917 257,000

Expended Inception through 06/30/24
16,631 2,371,145
19,137 178,651 421,658 106,984
11,477 214,298 19,137 220,344 72,323 110,911 355,364 107,151 70,391 1,122,794
3,589 41,707 106,000 293,660 19,610 110,744 263,576 96,752 219,711 241,424
226,165 108,610
67,631 82,658 75,405 42,608 91,841 139,520 95,672 86,046 96,957 111,115 124,329 223,987
28,831 233,854 90,861 9,569,433 336,623 3,632,964
147,096 116,808 118,431 292,616 101,664
84,588 238,404 235,962 2,331,437
41,072
-

TOTAL PROJECT EXPENDITURES

$ 894,891,903 $ 894,891,903 $

37,083,734 $

Expended FY24
16,631 2,371,145
19,137 178,651 421,658 106,984
11,477 214,298 19,137 220,344 72,323 110,911 355,364 107,151 70,391 1,122,794
3,589 41,707 106,000 293,660 19,610 110,744 263,576 96,752 219,711 241,424
226,165 108,610
67,631 82,658 75,405 42,608 91,841 139,520 95,672 86,046 96,957 111,115 124,329 223,987
28,831 233,854 90,861 9,569,433 336,623 3,632,964
147,096 116,808 118,431 292,616 101,664
84,588 238,404 235,962 2,331,437
41,072
-
37,083,734 $

Encumbered as of 6/30/24
84,695 2,727,571
247,569 148,550
20,766 159,927 403,500
65,892 3,283
252,547 350,319
20,766 435,332
22,102 392,631
20,766 4,912,231
703,915 589,493
20,766 339,580 237,328 134,995 315,432
45,823 3,023
113,525 -
364,631 20,766 62,966 20,766 20,766 22,118 20,766 20,766 90,403
6,212,257 167,702 177,267 20,766 429,097
1,069,124 -
401,942 524,387 82,397,691
20,766 -
1,024,034 20,766
196,660 378,616
20,766 20,766 324,855 353,254 560,315
24,228
28,666

Uncommitted
26,396 339,963
51,137 56,361 42,157 52,981 1,196,500 18,062 48,064 51,136 92,559 19,143 9,058,189 34,176 7,059,642 18,063 940,688 23,934,614 96,861 24,933 100,240 51,751 52,980 100,240 443,265 49,908 33,807 4,389,760 2,748,642 23,152 798,367 17,844 18,063 837,119 26,396 23,851 1,612,954 529,992 472,633 51,752 28,179 11,073,900 534,561
927,946 816,308 5,812,895
36,341 56,145,645 523,118,910 18,414,385
28,179 4,767,493 7,768,051
26,015 26,715 98,396 88,258
183,842 324,485 1,273,617 228,334

127,850,870 $ 729,957,299

120

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STATISTICAL SECTION (Unaudited)
This part of the District's Annual Comprehensive Financial Report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the District's overall financial position.
Contents
Financial Trends
These schedules contain trend information to help the reader understand how the District's financial performance has changed over time.
Revenue Capacity
These schedules contain information to help the reader understand and assess the District's most significant own-source revenue, the property tax.
Debt Capacity
These schedules present information to help the reader assess the affordability of the District's current level of outstanding debt and the District's ability to issue additional debt in the future.
Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader understand the environment within which the District's financial activities take place.
Operating Information
These schedules contain operating statistics, staffing information, and key performance indicators to help the reader understand how the information in the District's financial report relates to the services the District provides and the activities it performs.
Sources: Unless otherwise noted, the information contained here is derived from annual comprehensive financial reports for the indicated years. The District began implementation of GASB Statements No. 68 and 71 as of July 1, 2014, GASB Statement No. 75 as of July 1, 2017, GASB Statement No. 87 as of July 1, 2021, GASB Statement No. 96 as of July 1, 2022, and GASB Statement No. 100 as of July 1, 2023.
121

(This page was left blank intentionally)

COBB COUNTY SCHOOL DISTRICT NET POSITION BY COMPONENT LAST TEN FISCAL YEARS

INVESTMENT IN CAPITAL ASSETS

CAPITAL PROJECT
FUND

SCHOOL NUTRITION
FUND

RESTRICTED FOR:

MISC GRANTS

GNETS

GEN FUND

BUS

PRE-K

PURCHASES LOTTERY

UNRESTRICTED (DEFICIT)

FY2015(1)

1,329,345,000

92,760,000

19,295,000

43,000

-

-

-

(710,349,000)

FY2016

1,371,599,000

117,940,000

19,200,000

64,000

-

-

-

(701,830,000)

FY2017

1,444,579,000

96,550,000

19,198,000

-

-

-

-

(731,265,000)

FY2018(2)

1,463,720,000

123,455,000

18,910,000

-

-

-

-

(1,625,362,000)

FY2019

1,535,405,000

104,068,000

18,247,000

33,000

33,000

-

-

(1,536,928,000)

FY2020

1,604,839,000

92,605,000

8,347,000

50,000

50,000

-

-

(1,530,921,000)

FY2021

1,627,347,000

112,909,000

5,712,000

159,000

159,000

927,000

-

(1,517,147,000)

FY2022(3)

1,655,625,000

170,017,000

30,108,000

278,000

189,000

927,000

-

(1,324,813,000)

FY2023

1,679,939,000

231,238,000

33,782,000

205,000

189,000

-

-

(1,341,134,000)

FY2024

1,744,928,000

215,458,000

32,457,000

78,000

121,000

-

-

(1,496,621,000)

TOTAL NET
POSITION
731,094,000 806,973,000 829,062,000 (19,277,000) 120,858,000 174,970,000 230,066,000 532,331,000 604,219,000 496,421,000

(1) Net position was restated due to the implementation of GASBS Nos. 68 and 71, effective July 1, 2014. (2) Net Position was restated due to the implementation of GASBS No. 75, effective July 1, 2017. (3) Net Position was restated due to the implementation of GASB No. 87 effective July 1, 2021.
Source: District Records

122

COBB COUNTY SCHOOL DISTRICT CHANGES IN NET POSITION LAST TEN FISCAL YEARS
Governmental Activities Expenses: Instruction Pupil Services Instructional Services School and Administrative Services Student Transportation Maintenance and Operations School Nutrition Program Student Activities Interest and Fiscal Charges
Total Governmental Expenses

June 30, 2015

June 30, 2016

June 30, 2017

June 30, 2018

$ 704,451,000 27,468,000 47,475,000
173,717,000 49,975,000 53,469,000
32,164,000
-
$ 1,088,719,000

$ 754,427,000 31,201,000 45,668,000
186,859,000 52,503,000 59,762,000
31,116,000
-
$ 1,161,536,000

$ 834,731,000 36,683,000 49,846,000
202,694,000 56,325,000 66,763,000
397,000 31,075,000
-
$ 1,278,514,000

$ 842,846,000 37,822,000 49,754,000
207,198,000 61,737,000 73,717,000
30,691,000
167,000
$ 1,303,932,000

Program Revenues Charges For Services:
Instruction Pupil Services School and Administrative Services Maintenance and Operations Student Activities Operating Grants and Contributions Capital Grants and Contributions Total Governmental Expenses

$

1,121,000 $

1,192,000 $

1,187,000 $

1,239,000

10,000

11,000

11,000

9,000

27,963,000

29,008,000

29,135,000

37,472,000

1,830,000

1,127,000

898,000

2,401,000

31,193,000

31,169,000

30,977,000

31,664,000

545,592,000

579,489,000

614,312,000

632,068,000

5,867,000

18,902,000

9,714,000

2,658,000

$ 613,576,000 $ 660,898,000 $ 686,234,000 $ 707,511,000

Governmental Net Expenses

$ (475,143,000) $ (500,638,000) $ (592,280,000) $ (596,421,000)

General Revenues and Other Changes in Net Position

General Revenues

Taxes:

Property Taxes Levied for General Purposes

$ 421,043,000 $ 443,533,000 $ 473,864,000 $ 504,117,000

Sales Tax

126,923,000

128,980,000

132,036,000

137,708,000

Interest Income

1,352,000

1,242,000

1,754,000

3,741,000

Gain on Sale of Capital Assets

-

-

1,694,000

-

Other

1,769,000

2,762,000

5,021,000

1,964,000

Total General Revenues

$ 551,087,000 $ 576,517,000 $ 614,369,000 $ 647,530,000

Change in Net Position

$ 75,944,000 $ 75,879,000 $ 22,089,000 $ 51,109,000

Source: District Records

123

June 30, 2019

June 30, 2020

June 30, 2021

June 30, 2022

June 30, 2023

June 30,2024

$ 833,448,000 $ 976,197,000 $ 1,035,625,000 $ 908,906,000 $ 1,191,081,000 $ 1,336,106,000

37,209,000

47,402,000

43,170,000

35,776,000

45,668,000

52,979,000

53,378,000

59,389,000

63,289,000

57,860,000

74,976,000

83,735,000

196,042,000

198,713,000

200,280,000

192,376,000

246,390,000

287,831,000

61,112,000

62,984,000

57,665,000

59,496,000

73,264,000

91,259,000

74,614,000

90,260,000

120,068,000

122,130,000

119,971,000

178,960,000

-

-

-

-

-

-

31,664,000

29,450,000

10,818,000

21,965,000

28,236,000

30,247,000

871,000

1,084,000

466,000

175,000

1,165,000

2,504,000

$ 1,288,338,000 $ 1,465,479,000 $ 1,531,381,000 $ 1,398,684,000 $ 1,780,751,000 $ 2,063,621,000

$

1,286,000 $

1,605,000 $

1,015,000 $

1,478,000 $

-

-

-

-

39,668,000

34,674,000

11,774,000

21,833,000

2,329,000

1,507,000

1,748,000

2,303,000

32,246,000

29,661,000

10,785,000

23,127,000

634,436,000

687,696,000

773,299,000

788,912,000

5,650,000

26,356,000

2,294,000

16,861,000

$ 715,615,000 $ 781,499,000 $ 800,915,000 $ 854,514,000 $

$ (572,723,000) $ (683,980,000) $ (730,466,000) $ (544,170,000) $

1,613,000 $ -
45,236,000 2,122,000 29,391,000 816,658,000 14,861,000
909,881,000 $

1,716,000 -
45,987,000 1,389,000 30,736,000 824,545,000 22,646,000
927,019,000

(870,870,000) $ (1,136,602,000)

$ 546,318,000 $ 580,281,000 $ 621,641,000 $ 654,322,000 $

144,769,000

147,488,000

161,518,000

190,383,000

6,832,000

5,522,000

657,000

1,659,000

12,335,000

-

-

-

2,882,000

3,132,000

1,514,000

1,757,000

$ 713,136,000 $ 736,423,000 $ 785,330,000 $ 848,121,000 $

$ 140,413,000 $ 52,443,000 $ 54,864,000 $ 303,951,000 $

714,804,000 $

794,811,000

200,979,000

194,216,000

23,524,000

35,373,000

-

-

3,451,000

4,404,000

942,758,000 $ 1,028,804,000

71,888,000 $ (107,798,000)

124

COBB COUNTY SCHOOL DISTRICT FUND BALANCE, GOVERNMENTAL FUNDS LAST TEN FISCAL YEARS
General Fund Nonspendable Restricted Committed Assigned Unassigned
Total General Fund
All Other Governmental Funds Nonspendable Restricted Committed Assigned Unassigned
Total All Other Governmental Funds

June 30, 2015

June 30, 2016

June 30, 2017

June 30, 2018

$

844,000

-

10,000,000

31,050,000

90,588,000

$ 132,482,000

$

1,004,000

-

8,200,000

20,342,000

74,840,000

$ 104,386,000

$

2,151,000

-

-

15,023,000

96,064,000

$ 113,238,000

$

980,000

-

-

30,535,000

109,206,000

$ 140,721,000

$

1,844,000 $

1,922,000 $

1,993,000 $

2,228,000

110,264,000

135,367,000

113,764,000

120,492,000

14,990,000

16,169,000

16,531,000

17,042,000

1,468,000

1,487,000

786,000

390,000

(9,000)

(5,000)

(556,000)

(24,000)

$ 128,557,000 $ 154,940,000 $ 132,518,000 $ 140,128,000

Source: District Records

125

June 30, 2019

June 30, 2020

June 30, 2021

June 30, 2022

June 30, 2023

June 30, 2024

$

828,000

-

-

66,131,000

120,705,000

$ 187,664,000

$

1,227,000

-

-

83,681,000

139,657,000

$ 224,565,000

$

1,234,000

927,000

-

163,978,000

184,619,000

$ 350,758,000

$

1,333,000

927,000

-

181,354,000

198,307,000

$ 381,921,000

$

1,135,000

-

-

201,331,000

189,688,000

$ 392,154,000

$

1,677,000

-

-

176,438,000

198,357,000

$ 376,472,000

$

2,965,000 $

96,409,000

18,030,000

296,000 -

$ 117,700,000 $

3,085,000 $ 33,738,000 20,245,000
4,164,000 -
61,232,000 $

2,274,000 $

2,900,000 $

3,602,000 $

2,812,000

41,983,000

134,255,000

163,745,000

205,690,000

18,470,000

20,821,000

23,030,000

23,962,000

3,032,000

6,267,000

30,639,000

23,440,000

-

-

-

-

65,759,000 $ 164,243,000 $ 221,016,000 $ 255,904,000

126

COBB COUNTY SCHOOL DISTRICT CHANGES IN FUND BALANCES, GOVERNMENTAL FUNDS LAST TEN FISCAL YEARS

REVENUES: Taxes Intergovernmental Tuition and Fees Interest Income Rentals Athletic Ticket Sales Other
Total Revenues
EXPENDITURES: Current:
Instruction Pupil Services Instructional Services School and Administrative Services Student Transportation Maintenance and Operations School Nutrition Program Student Activities Interest and Fiscal Charges Capital Outlay Debt Service: Interest and Fiscal Charges
Total Expenditures
Excess (Deficiency) of Revenues Over (Under) Expenditures
Other Financing Sources (Uses): Transfers-In Transfers-Out Proceeds from Sale of Capital Assets Total Other Financing Sources (Uses)
Net Change in Fund Balances
Non-Capitalized Expenditures Capitalized Expenditures Total Expenditures
Debt Service as a Percentage of Non-Capitalized Expenditures

2015

2016

Fiscal Year

2017

2018

$

548,738,000 $

572,621,000 $

607,871,000 $

640,509,000

552,431,000

599,546,000

623,018,000

633,454,000

57,750,000

59,022,000

58,844,000

59,179,000

1,578,000

1,516,000

2,335,000

4,997,000

1,353,000

647,000

438,000

1,932,000

3,013,000

2,749,000

2,925,000

3,528,000

1,769,000

2,481,000

4,393,000

2,875,000

1,166,632,000

1,238,582,000

1,299,824,000

1,346,474,000

675,310,000 25,373,000 46,245,000
172,304,000 45,583,000 63,466,000 458,000 32,164,000 -
134,408,000 -
1,195,311,000

720,608,000 29,098,000 44,343,000
185,351,000 47,943,000 66,190,000 465,000 31,116,000 -
115,357,000 -
1,240,471,000

742,594,000 32,321,000 46,318,000
189,124,000 49,963,000 68,023,000 31,075,000 -
157,248,000 -
1,316,666,000

754,423,000 33,709,000 46,397,000
188,486,000 52,463,000 69,767,000 30,691,000 -
135,180,000 -
167,000
1,311,283,000

(28,679,000)

(1,889,000)

(16,842,000)

35,191,000

1,993,000 (2,438,000)
126,000 (319,000)

4,041,000 (4,486,000)
621,000 176,000

4,908,000 (6,103,000) 4,467,000 3,272,000

7,882,000 (8,255,000)
275,000 (98,000)

$

(28,998,000) $

(1,713,000) $

(13,570,000) $

35,093,000

$

1,051,784,000 $

1,119,674,000 $

1,157,363,000 $

1,176,768,000

143,527,000

120,797,000

159,303,000

134,515,000

$

1,195,311,000 $

1,240,471,000 $

1,316,666,000 $

1,311,283,000

0.00%

0.00%

0.00%

0.01%

127

2019

2020

$

690,882,000 $

724,173,000 $

635,892,000

710,427,000

61,670,000

54,203,000

10,658,000

7,912,000

1,861,000

1,010,000

3,576,000

3,034,000

2,882,000

3,132,000

1,407,421,000

1,503,891,000

2021

Fiscal Year

2022

786,347,000 $ 775,283,000
13,949,000 762,000 54,000
1,893,000 2,981,000 1,581,269,000

845,174,000 $ 807,775,000
36,586,000 1,944,000 1,791,000 2,990,000 1,757,000
1,698,017,000

2023
915,936,000 $ 823,865,000
63,485,000 29,795,000
54,000 4,641,000 4,971,000 1,842,747,000

2024
987,018,000 836,462,000
65,379,000 46,116,000
43,000 3,277,000 5,750,000 1,944,045,000

790,474,000 36,064,000 55,056,000
190,102,000 55,815,000 71,635,000 31,664,000 -
170,419,000 -
871,000
1,402,100,000

852,123,000 43,607,000 57,279,000
183,696,000 58,285,000 82,368,000 29,450,000 -
217,527,000 -
1,084,000
1,525,419,000

867,170,000 37,698,000 58,419,000
179,505,000 51,594,000 78,392,000 10,818,000 -
166,566,000 -
466,000
1,450,628,000

934,500,000 38,526,000 64,881,000
201,398,000 57,775,000 84,724,000 21,965,000 -
163,046,000 -
175,000
1,566,990,000

1,056,330,000 41,970,000 71,123,000
229,008,000 71,747,000 89,888,000 28,236,000 -
186,747,000 -
1,165,000
1,776,214,000

1,138,215,000 47,282,000 77,000,000
257,609,000 88,454,000
109,727,000 30,247,000
174,146,000.00 -
2,504,000
1,925,184,000

5,321,000

(21,528,000)

130,641,000

131,027,000

66,533,000

18,861,000

3,582,000 (3,955,000) 19,567,000 19,194,000

4,310,000 (4,310,000)
314,000 314,000

$

24,515,000 $

(21,214,000) $

$

1,233,970,000 $

1,313,891,000 $

168,130,000

211,528,000

$

1,402,100,000 $

1,525,419,000 $

9,583,000 (9,748,000)
244,000 79,000
130,720,000 $
1,299,534,000 $ 151,094,000
1,450,628,000 $

6,251,000 (6,251,000)
330,000 330,000
131,357,000 $
1,444,687,000 $ 122,303,000
1,566,990,000 $

26,861,000 (26,861,000)
473,000 473,000
67,006,000 $
1,619,865,000 $ 156,349,000
1,776,214,000 $

9,655,000 (9,655,000)
345,000 345,000
19,206,000
1,818,182,000 107,002,000
1,925,184,000

0.07%

0.08%

0.04%

0.01%

0.07%

0.14%

128

COBB COUNTY SCHOOL DISTRICT PROPERTY TAX LEVIES AND COLLECTIONS LAST SEVEN FISCAL YEARS

General Fund: Total Taxes Levied Collected Current Year Percent of Taxes Collected

2018

2019

2020

2021

$

468,387,000 $

508,461,000 $

536,187,000 $

562,732,000

466,239,000

505,912,000

532,737,000

559,804,000

99.54%

99.50%

99.36%

99.48%

Subsequent Years Collected

$

Total Collected All Years

Balance Receivable

$

Percent of Taxes Collected

1,994,859 $ 468,233,859
153,141 $ 99.97%

2,383,246 $ 508,295,246
165,754 $ 99.97%

3,184,718 $ 535,921,718
265,282 $ 99.95%

2,668,677 562,472,677
259,323 99.95%

General Fund: Total Taxes Levied
Collected Current Year Percent of Taxes Collected

2022

2023

2024

Total

$

595,290,000 $

662,926,000 $

749,980,000 $

4,083,963,000

593,067,000 99.63%

660,138,000 99.58%

744,307,419 99.24%

4,062,204,419 99.47%

Subsequent Years Collected

$

Total Collected All Years

Balance Receivable

$

Percent of Taxes Collected

1,678,655 $ 594,745,655
544,345 $ 99.91%

2,040,075 $ 662,178,075
747,925 $ 99.89%

-$ 744,307,419
5,672,581 $ 99.24%

13,950,230 4,076,154,649
7,494,834 99.81%

Statute of limitations for collection of delinquent taxes is seven years as permitted by the State of Georgia; therefore, only seven years of data is available.
Total Taxes Levied on calculated on CCSD fiscal year collections.
Source: District Records, Office of Tax Commissioner, Cobb County

129

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COBB COUNTY SCHOOL DISTRICT ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY LAST TEN YEARS

COUNTY SCHOOL
Real - Residential Real - Commercial Real Subtotal
Personal Public Utility Motor Vehicles Mobile Homes Timber - 100% Heavy Duty Equipment Gross Digest
Estimated Actual Value

2015

2016

2017

2018

$ 15,951,678,783 6,108,270,008
22,059,948,791

$ 17,150,203,122 6,460,116,029
23,610,319,151

$ 19,072,527,498 6,646,763,849
25,719,291,347

$ 20,795,272,319 7,157,147,483
27,952,419,802

2,675,315,140 893,002,752
1,572,982,310 12,923,089 25,813 1,550,272
$ 27,215,748,167

2,856,245,405 870,412,061
1,128,274,310 12,938,480 1,747,848
$ 28,479,937,255

3,049,369,212 855,371,356 823,712,610 12,581,964 23,000 2,319,221
$ 30,462,668,710

2,618,157,034 853,859,670 583,963,950 12,038,537 73,877 2,281,434
$ 32,022,794,304

LESS M&O Exempt Net M&O Digest

$ (5,860,902,407) $ (6,438,239,118) $ (7,098,878,872) $ (7,146,009,352) $ 21,354,845,760 $ 22,041,698,137 $ 23,363,789,838 $ 24,876,784,952

Net M&O Millage

18.90%

18.90%

18.90%

18.90%

Net Taxes Levied

$

Net Taxes $ Increase/Decrease $

Net Taxes % Increase/Decrease

403,606,585 $ 16,607,140 $ 4.3%

416,588,095 $ 12,981,510 $ 3.2%

441,575,628 $ 24,987,533 $ 6.0%

470,171,236 28,595,608 6.5%

Direct Rate

18.90%

18.90%

18.90%

18.90%

Source: Office of Tax Commissioner, Cobb County *Amounts are in digest year.

130

2019

2020

2021

2022

2023

2024

$ 22,485,981,044 $ 24,191,013,135 $ 25,512,601,086 $ 27,349,888,942 $ 31,515,288,332 $ 37,034,063,200

8,117,934,595

8,416,023,106

8,946,409,592

9,536,883,680

10,095,277,824

11,072,872,020

30,603,915,639

32,607,036,241

34,459,010,678

36,886,772,622

41,610,566,156

48,106,935,220

2,765,994,415

2,829,528,083

2,898,008,911

2,893,816,042

3,145,007,589

3,614,861,128

839,298,067

869,265,947

888,755,947

930,323,660

975,747,139

955,561,473

424,772,870

332,095,090

266,071,610

210,910,680

181,230,170

173,428,160

11,963,700

12,700,651

13,109,955

13,008,126

12,984,231

12,863,907

117,408

-

-

-

15,000

-

1,888,857

2,277,113

2,373,911

1,799,537

3,336,782

3,271,399

$ 34,647,950,956 $ 36,652,903,125 $ 38,527,331,012 $ 40,936,630,667 $ 45,928,887,067 $ 52,866,921,287

$ (7,729,704,572) $ (8,270,157,266) $ (8,766,733,703) $ (9,471,117,883) $ (10,829,173,057) $ (12,690,657,388) $ 26,918,246,384 $ 28,382,745,859 $ 29,760,597,309 $ 31,465,512,784 $ 35,099,714,010 $ 40,176,263,899

18.90%

18.90%

18.90%

18.90%

18.90%

18.70%

$

508,754,857 $

536,433,897 $

562,475,289 $

594,698,192 $

$

38,583,621 $

27,679,040 $

26,041,392 $

32,222,902 $

8.2%

5.4%

4.9%

5.7%

663,384,595 $ 68,686,403 $ 11.6%

751,296,135 87,911,540 13.3%

18.90%

18.90%

18.90%

18.90%

18.90%

18.70%

/
131

COBB COUNTY SCHOOL DISTRICT DIRECT AND OVERLAPPING PROPERTY TAX RATES LAST TEN FISCAL YEARS

Fiscal Year

June 30, 2015 June 30, 2016 June 30, 2017 June 30, 2018 June 30, 2019

School District General Fund Millage School District Debt Service Millage Total

18.90 0.00
18.90

18.90 0.00
18.90

18.90 0.00
18.90

18.90 0.00
18.90

18.90 0.00
18.90

County Government Millage General Fire District Debt Service Total County Rate

7.32

7.12

6.66

6.76

8.46

3.06

3.06

2.96

2.96

2.86

0.33

0.33

0.23

0.13

0.13

10.71

10.51

9.85

9.85

11.45

State of Georgia Millage

0.15

0.10

0.05

0.00

0.00

Total Overlapping Rate Millage

10.86

10.61

9.90

9.85

11.45

Additional Overlapping Rates Millage

City of Acworth

7.60

7.60

7.60

7.60

7.60

City of Austell

4.00

3.06

3.06

3.06

3.25

City of Kennesaw

9.50

9.50

9.50

9.50

9.50

City of Powder Springs

8.50

8.50

8.50

8.50

9.50

City of Smyrna

8.99

8.99

8.99

8.99

8.99

Fiscal Year

June 30, 2020 June 30, 2021 June 30, 2022 June 30, 2023 June 30, 2024

School District General Fund Millage School District Debt Service Millage Total

18.90 0.00
18.90

18.90 0.00
18.90

18.90 0.00
18.90

18.90 0.00
18.90

18.70 0.00
18.70

County Government Millage General Fire District Debt Service Total County Rate

8.46 2.86 0.13 11.45

8.46 2.86 0.13 11.45

8.46 2.86 0.13 11.45

8.46 2.99 0.00 11.45

8.46 2.99 0.00 11.45

State of Georgia Millage

0.00

0.00

0.00

0.00

0.00

Total Overlapping Rate Millage

11.45

11.45

11.45

11.45

11.45

Additional Overlapping Rates Millage

City of Acworth

7.60

8.95

8.95

8.95

8.95

City of Austell

3.25

3.25

3.25

3.25

3.25

City of Kennesaw

9.50

9.50

9.50

9.50

9.25

City of Powder Springs

9.50

9.50

9.50

9.50

9.50

City of Smyrna

8.99

8.99

8.99

8.99

8.99

Note: Maintenance and operations tax for the schools has a cap of 20.00 mills Source: Cobb County Government, Georgia Department of Revenue
132

COBB COUNTY SCHOOL DISTRICT PRINCIPAL PROPERTY TAXPAYERS DECEMBER 31, 2023 AND NINE YEARS AGO

Taxpayer Georgia Power Home Depot Galleria LLC/OTR Walton Properties AT&T/Bellsouth Lockheed Martin Corp Cobb EMC Comcast U K Lasalle Inc Galaxy Properties LP Ohio Teacher Retirement Fund Atlanta Gas Light CP Venture Five, LLC Inland Properties
TOTAL

Type of Business Utilities Retail Real Estate Real Estate Telecommunications Aircraft Utilities Utilities Real Estate Real Estate Investment Utilities Real Estate Investment

Rank 1 2 3 4 5 6 7 8 9 10

December 31, 2023

Taxes

Levied

$

11,151,014

5,990,217

4,233,105

3,042,656

2,307,732

2,297,251

2,123,119

1,340,110

1,339,105

1,325,912

Percent of Total Taxes Levied 1.498% 0.805% 0.569% 0.409% 0.310% 0.309% 0.285% 0.180% 0.180% 0.178%

$

35,150,221

4.723%

Rank 1 2
10 4 3 5

December 31, 2014

Taxes

Levied

$

9,357,027

4,608,893

950,911 2,174,643 2,777,721 1,999,997

Percent of Total Taxes Levied 2.345% 1.155%
0.238% 0.545% 0.696% 0.501%

6

1,974,806

0.495%

7

1,427,035

0.358%

8

1,072,372

0.269%

9

1,040,810

0.261%

$

27,384,215

6.863%

Note: School millage rate is 62% of total county rate. Total taxes levied are multiplied by 62% to arrive at amount of school taxes.
Information is available only by calendar year; therefore, data reported is for December 31, 2023 and nine years earlier, December 31, 2014 Source: Office of Tax Commissioner, Cobb County, GA

133

COBB COUNTY SCHOOL DISTRICT LEGAL DEBT MARGIN INFORMATION LAST TEN FISCAL YEARS

Fiscal Year
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Net Assessed Valuation January 1

Debt Limit - 10% of Assessed Value

Amount of Debt Applicable to
Debt Limit

Legal Debt Margin

$ 21,354,845,760 $ 22,041,698,137 23,363,789,838 24,876,784,952 26,918,246,384 28,382,745,859 29,760,597,309 31,465,512,784 35,099,714,010 40,176,263,899

2,135,484,576 $ 2,204,169,814 2,336,378,984 2,487,678,495 2,691,824,638 2,838,274,586 2,976,059,731 3,146,551,278 3,509,971,401 4,017,626,390

- $ 2,135,484,576

-

2,204,169,814

-

2,336,378,984

-

2,487,678,495

-

2,691,824,638

-

2,838,274,586

-

2,976,059,731

-

3,146,551,278

-

3,509,971,401

-

4,017,626,390

Source: District Records

134

COBB COUNTY SCHOOL DISTRICT RATIO OF OUTSTANDING DEBT BY TYPE LAST TEN FISCAL YEARS

Fiscal Year
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

General Obligation
Bonds
-

Total Primary Government
Debt
- $ -

Annual Personal Income

Population

Debt as a Percentage of Personal
Income

36,192,750,000 670,967

-

36,400,450,000 682,267

-

38,385,767,000 687,209

-

40,281,455,000 694,706

-

43,263,716,000 696,059

-

44,995,411,000 699,274

-

48,229,082,000 705,177

-

51,847,811,000 705,305

-

53,984,067,000 709,350

-

58,392,568,000 713,974

Total Debt Per Capita
-

Notes: Cobb County School District information based on fiscal years beginning July 1 and ending June 30. Demographic and economic data provided by calendar year.
Population of 713,974 provided by the US Census Bureau (population estimate July 1, 2023); excludes the City of Marietta.
Annual Personal Income data is as of December 31st of the fiscal year.
Sources: District Records, Annual Personal Income: US Department of Commerce Bureau of Economic Analysis.

135

COBB COUNTY SCHOOL DISTRICT RATIO OF NET GENERAL BONDED DEBT TO ESTIMATED ACTUAL VALUE & NET BONDED DEBT PER CAPITA LAST TEN FISCAL YEARS

Fiscal Year Population

Estimated Actual Value

Gross Bonded
Debt

Restricted for Bonded
Debt

Net Bonded
Debt

Ratio of Net Bonded Debt to Est. Act Value

Net Bonded Debt Per Capita

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

670,967 682,267 687,209 694,706 696,059 699,274 705,177 705,305 709,350 713,974

52,774,935,000 $ 54,685,822,000 58,104,731,000 61,956,000,536 67,256,722,613 70,924,204,555 74,435,488,855 78,742,101,840 87,688,648,309 100,264,722,375

-$ -

-$ -

-$ -

-$

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Note: Population provided by US Census Bureau (2023 estimate); excludes the City of Marietta

136

COBB COUNTY SCHOOL DISTRICT COMPUTATION OF DIRECT AND OVERLAPPING GENERAL OBLIGATION DEBT JUNE 30, 2024

Direct General Obligation Debt: Gross Bonded Debt

$0

$0

Overlapping General Obligation Debt: Cobb County Gov (99.9% of $0)

$0 $0

Total Direct and Overlapping General Obligation Debt

$0

Debt Per Capita:

Direct General Obligation Debt

$0

Overlapping General Obligation Debt

$0

Total

$0

Note: The overlap percentage is determined by the percentage of Fire District to Debt Service Fund of Cobb County Government.
Source: Cobb County Government

137

COBB COUNTY SCHOOL DISTRICT COBB COUNTY DEMOGRAPHIC AND ECONOMIC STATISTICS LAST TEN CALENDAR YEARS

Year
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Population
730,981 $ 741,334 748,150 755,754 756,865 760,141 766,149 766,802 771,952 776,743

Personal Income
36,192,750,000 36,400,450,000 38,385,767,000 40,281,455,000 43,263,716,000 44,995,411,000 48,229,082,000 51,847,811,000 53,984,067,000 58,392,568,000

Per Capita

Personal

Income

$

49,513

49,101

51,308

53,300

57,162

59,194

63,214

67,616

69,932

75,176

Median Household
Income
$ 68,656 70,246 70,947 75,654 78,894 79,601
NA(a) 88,029 86,013 99,382

Median Age
36.2 36.3 36.5 36.6 36.7 37.3 NA(a) 37.7 37.6 37.9

Active Student Enrollment
111,751 112,708 113,151 112,084 111,854 112,097 107,379 106,970 106,703 106,358

Unemployment Rate
6.0% 5.0 4.6 4.4 3.7 3.0 5.9 3.3 2.6 3.0

Note: (a) 2020 data is not available. Data was only recorded at the state level.
Sources: Population (includes city of Marietta), provided by the US Census Bureau (population census estimates as of July 1, 2023). Personal Income, and Per Capita Personal Income from US Bureau of Economic Analysis.
Median Household Income and Unemployment Rate from Georgia Department of Labor (HUD and US Census Bureau estimates).
Median Age from US Census Bureau.

138

COBB COUNTY PRINCIPAL EMPLOYERS BY SECTOR CURRENT YEAR AND NINE YEARS AGO

2023

Sector Professional & Technical Services Administrative & Waste Services Miscellaneous Healthcare & Social Services Retail Trade Construction Accommodation & Food Service State & Local Government Finance & Insurance Real Estate, Rent & Leasing Transportation & Utilities Other Services Wholesale Manufacturing Federal Government

Rank 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Employees 64,570 59,590 57,710 52,580 50,100 46,800 42,560 34,010 33,950 33,910 32,720 31,730 27,810 20,540 4,820

Percent of Total County Employment 10.88% 10.04% 9.73% 8.86% 8.44% 7.89% 7.17% 5.73% 5.72% 5.71% 5.51% 5.35% 4.69% 3.46% 0.81%

Rank 2 3 4 5 1 8 7 6 11 12 14 10 9 13 15

Total

593,400

Information is available by calendar year; therefore, data reported is for years ended December 31, 2023, and nine years earlier, December 31, 2014.
Sources: Cobb County Government, ACFR Fiscal Year Ended September 30, 2023.

2014
Employees 48,140 46,310 45,870 40,670 48,280 32,690 33,170 33,270 26,320 25,870 15,790 26,610 29,380 19,470 4,820
476,660

Percent of Total County Employment 10.10% 9.72% 9.62% 8.53% 10.13% 6.86% 6.96% 6.98% 5.52% 5.43% 3.31% 5.58% 6.16% 4.08% 1.01%

139

COBB COUNTY SCHOOL DISTRICT COMPARISON OF METROPOLITAN ATLANTA SCHOOL DISTRICT PROPERTY TAX RATES

Digest Year Category Type
Muscogee (Columbus) DeKalb Rockdale Atlanta Henry Clayton Douglas Gwinnett Fayette Calhoun Cobb Clarke (Athens) Marietta City Paulding Chatham (Savannah) Bartow Fulton Cherokee

M&O

2015 Bond

Total

M&O

2016 Bond

Total

M&O

2017 Bond

23.321 23.180 24.900 20.740 20.000 20.000 19.700 19.800 19.500 19.605 18.900 20.000 17.970 18.879 18.881 18.850 17.796 18.950

3.628 1.200 1.950 1.350
0.500

23.321 23.180 24.900 20.740 23.628 20.000 20.900 21.750 20.850 19.605 18.900 20.000 17.970 18.879 18.881 18.850 17.796 19.450

23.321 23.080 24.700 20.740 20.000 20.000 19.650 19.700 19.250 19.673 18.900 20.000 17.970 18.750 18.881 18.750 17.796 18.450

3.628 1.000 1.900 1.271
1.000

23.321 23.080 24.700 20.740 23.628 20.000 20.650 21.600 20.521 19.673 18.900 20.000 17.970 18.750 18.881 18.750 17.796 19.450

23.321 23.180 24.900 20.740 20.000 20.000 19.700 19.800 19.500 19.605 18.900 20.000 17.970 18.879 18.881 18.850 17.796 18.950

3.628 1.200 1.950 1.350
0.500

Total
23.321 23.180 24.900 20.740 23.628 20.000 20.900 21.750 20.850 19.605 18.900 20.000 17.970 18.879 18.881 18.850 17.796 19.450

Digest Year Category Type
Muscogee (Columbus) DeKalb Rockdale Atlanta Henry Clayton Douglas Gwinnett Fayette Calhoun Cobb Clarke (Athens) Marietta City Paulding Chatham (Savannah) Bartow Fulton Cherokee

M&O

2018 Bond

Total

M&O

2019 Bond

Total

M&O

2020 Bond

23.321 23.180 24.900 20.740 20.000 20.000 19.700 19.800 19.500 19.605 18.900 20.000 17.970 18.879 18.881 18.850 17.796 18.950

3.628 1.200 1.950 1.350
0.500

23.321 23.180 24.900 20.740 23.628 20.000 20.900 21.750 20.850 19.605 18.900 20.000 17.970 18.879 18.881 18.850 17.796 19.450

23.321 23.080 24.700 20.740 20.000 20.000 19.650 19.700 19.250 19.673 18.900 20.000 17.970 18.750 18.881 18.750 17.796 18.450

3.628 1.000 1.900 1.271
1.000

23.321 23.080 24.700 20.740 23.628 20.000 20.650 21.600 20.521 19.673 18.900 20.000 17.970 18.750 18.881 18.750 17.796 19.450

23.321 23.080 24.600 20.740 20.000 20.000 19.600 19.700 19.150 19.577 18.900 20.000 17.970 18.750 18.881 18.500 17.796 18.450

3.628 1.000 1.900 1.180
1.000

Total
23.321 23.080 24.600 20.740 23.628 20.000 20.600 21.600 20.330 19.577 18.900 20.000 17.970 18.750 18.881 18.500 17.796 19.450

Digest Year Category Type

M&O

2021 Bond

Total

M&O

2022 Bond

Total

M&O

2023 Bond

Muscogee (Columbus) DeKalb Rockdale Atlanta Henry Clayton Douglas Gwinnett Fayette Calhoun Cobb Clarke (Athens) Marietta City Paulding Chatham (Savannah) Bartow Fulton Cherokee

23.321 23.080 22.717 20.740 20.000 20.000 19.550 19.700 19.334 19.551 18.900 20.000 17.970 18.750 18.131 18.116 17.590 18.200

3.628
0.500 1.650 1.100

23.321 23.080 22.717 20.740 23.628 20.000 20.050 21.350 20.434 19.551 18.900 20.000 17.970 18.750 18.131 18.116 17.590 18.200

23.321 23.080 21.000 20.500 20.000 20.000 19.500 19.200 19.150 19.112 18.900 18.800 17.970 17.750 17.631 17.430 17.240 16.450

3.628 0.500 1.450 0.850
1.500

23.321 23.080 21.000 20.500 23.628 20.000 20.000 20.650 20.000 19.112 18.900 18.800 17.970 17.750 17.631 17.430 17.240 17.950

23.321 22.980 20.000 20.500 20.000 19.600 18.990 19.200 19.250 18.943 18.700 18.800 17.970 17.675 17.631 17.430 17.140 16.450

3.628 0.500 1.450 0.800
1.500

Source: Georgia Department of Revenue

140

Total
23.321 22.980 20.000 20.500 23.628 19.600 19.490 20.650 20.050 18.943 18.700 18.800 17.970 17.675 17.631 17.430 17.140 17.950

COBB COUNTY SCHOOL DISTRICT GENERAL FUND DIGEST HISTORY JUNE 30, 2024

DIGEST YEAR 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

GENERAL FUND
MILLAGE 17.50 17.50 16.00 17.00 15.00 15.25 15.25 14.10 14.10 14.10 14.10 14.10 14.10 16.30 16.30 17.90 17.90 17.47 17.47 17.47 17.83 17.83 17.83 17.83 17.55 17.55 19.00 19.00 19.00 19.00 19.00 19.00 18.90 18.90 18.90 18.90 18.90 18.90 18.90 18.90 18.90 18.90 18.90 18.90 18.90 18.90 18.90 18.70

GROSS DIGEST
$463,448,680 $488,781,618 $639,873,809 $748,934,906 $928,666,389 $1,125,259,173 $1,239,928,303 $1,536,599,496 $1,604,301,503 $1,861,972,885 $2,125,000,624 $2,448,163,000 $2,858,062,000 $3,327,569,000 $3,643,008,000 $4,282,730,000 $4,828,844,000 $5,878,825,000 $6,848,017,098 $7,606,443,051 $8,597,546,520 $9,132,033,111 $9,670,022,623 $9,869,139,149 $10,144,025,710 $10,837,271,461 $12,258,847,184 $13,147,707,483 $14,330,534,806 $15,782,613,133 $16,928,157,644 $18,457,749,070 $21,330,804,253 $22,208,936,963 $23,621,928,698 $25,470,296,619 $27,521,703,542 $29,618,318,779 $30,688,996,965 $30,662,878,555 $28,555,874,363 $26,989,636,063 $26,325,729,783 $26,161,691,612 $27,215,748,167 $28,479,937,255 $30,462,668,710 $32,022,794,304 $34,647,950,956 $36,652,903,125 $38,527,331,012 $40,936,630,667 $45,928,887,067 $52,866,921,287

Source: District Records, Office of Tax Commissioner, Cobb County

PERCENT CHANGE
5.47%
30.91% 17.04% 24.00% 21.17% 10.19% 23.93%
4.41% 16.06% 14.13% 15.21% 16.74% 16.43%
9.48% 17.56% 12.75% 21.74% 16.49% 11.08% 13.03%
6.22% 5.89% 2.06% 2.79% 6.83% 13.12% 7.25% 9.00% 10.13% 7.26% 9.04% 15.57% 4.12% 6.36% 7.82% 8.05% 7.62% 3.61% -0.09% -6.87% -5.48% -2.46% -0.62% 4.03% 4.65% 6.96% 5.12% 8.20% 5.79% 5.11% 6.25% 12.20% 15.11%

141

COBB COUNTY SCHOOL DISTRICT PROPERTY DIGEST REDUCTIONS DUE TO EXEMPTION LAST TEN FISCAL YEARS

FISCAL YEAR TAX EXEMPT CLASSIFICATION A. Basic Homestead Exemption (Cobb County) B. Age 62 or Older (Cobb County) C. Disabled Veteran (State) D. Social Security Disability (Cobb County) E. Surviving Spouse (State) F. Conservation - SV G. Environmentally Sensitive Property (State) PERSONAL PROPERTY H. Freeport (Cobb County) I. Personal Property Returns < $500 J. Brownfield Property TOTAL EXEMPTIONS - M & O

2015

2016

2017

2018

$ 965,936,434 $ 935,568,196 $ 918,619,596 $ 903,943,001

3,755,620,003 4,177,064,231 4,764,134,187 5,350,772,150

10,366,332

14,058,473

18,522,236

24,069,459

7,481,109

7,232,420

7,269,524

6,897,024

284,896

296,224

235,352

254,836

52,332,965

53,526,239

58,792,105

65,414,917

813,382

813,382

909,698

909,698

1,059,599,969 1,241,174,117 1,318,798,224

784,317,290

7,993,641

8,030,440

8,197,038

8,500,161

473,676

475,396

3,400,912

930,816

$ 5,860,902,407 $ 6,438,239,118 $ 7,098,878,872 $ 7,146,009,352

Source: Consolidation and evaluation of digest as furnished by tax commissioner's office.
Definitions: A. Qualified homeowners are entitled to a $10,000 exemption in the county general and school general tax categories B. Qualified homeowners who are age 62 as of January 1 are entitled to a full exemption in the school general
and school bond tax categories C. Disabled veterans are entitled to a $50,000 exemption in the school general and school bond tax categories D. Qualified homeowners who are disabled as of January 1, and whose annual net income does not exceed $12,000 for
the immediately preceding tax year are entitled to a $22,000 exemption in all tax categories E. Unremarried surviving spouse of firefighter or peace officer killed in the land of duty. F. Favorable tax treatment designed to protect property owners from being pressured to convert their land
from agricultural use to residential or commercial use. G. Exemption for property certified by the Georgia Department of Natural Resources as "environmentally sensitive" and
requires the property owner to commit to maintaining the land in its natural condition for 10 years. H. Exemption from tax on inventories subject to specific requirements I. Exemption of tangible, personal property < $7,500 subject to specific requirements J. Brownfield property is a property, the expansion, redevelopment, or reuse of, which may be complicated by the presence,
or potential presence, of a hazardous substance, pollutant, or contaminant.

142

2019

2020

2021

2022

2023

2024

$ 889,782,214 $ 882,981,380 $ 871,130,908 $ 874,301,076 $ 866,657,034 $ 868,436,854

5,921,610,172 6,493,655,613 6,993,577,235 7,643,479,316

8,854,161,802

10,491,882,812

33,572,708

42,686,780

55,506,824

77,870,160

97,338,946

125,202,548

6,930,484

6,288,004

5,720,000

5,478,000

5,192,000

4,664,000

258,740

290,076

285,532

552,528

683,400

779,172

71,684,062

73,719,114

77,998,240

88,185,353

82,177,505

124,007,003

955,762

1,351,978

1,258,212

1,340,184

1,483,636

1,577,402

795,205,431

761,046,154

751,951,099

740,608,467

890,153,433

1,041,648,063

7,674,503

7,087,431

5,845,289

5,297,085

5,131,313

5,169,934

2,030,496

1,050,736

3,460,364

34,005,714

26,193,988

27,289,600

$ 7,729,704,572 $ 8,270,157,266 $ 8,766,733,703 $ 9,471,117,883 $ 10,829,173,057 $ 12,690,657,388

143

COBB COUNTY SCHOOL DISTRICT NUMBER OF PERSONNEL AND PUPILS TO PROFESSIONAL PERSONNEL LAST TEN FISCAL YEARS

Fiscal Year
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Professional Personnel (a)
8,036 8,050 8,099 8,092 8,141 8,217 8,224 8,284 8,400 8,386

Other Operating Personnel (b)
2,769 2,943 2,953 2,587 2,604 2,932 2,888 2,872 2,933 2,970

Service Personnel (c)
2,949 2,599 2,613 2,927 2,895 2,632 2,417 2,328 2,431 2,545

Total Personnel
13,754 13,592 13,665 13,606 13,640 13,781 13,529 13,484 13,764 13,901

Active Student Enrollment
111,751 112,708 113,151 112,084 111,854 112,097 107,379 106,970 106,703 106,358

(a) Professional personnel consists of all certified personnel including teachers, librarians, counselors, supervisors, consultants, coordinators, principals, assistant principals and other leadership personnel.
(b) Other operating personnel includes non-certified leadership personnel, classroom aides, secretarial and clerical employees, and other technicians.
(c) Service personnel includes food service personnel, custodial employees, bus drivers and maintenance/warehouse employees.
Source: District Records

144

COBB COUNTY SCHOOL DISTRICT OPERATING STATISTICS LAST TEN FISCAL YEARS

Fiscal Year
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Expenses
$ 1,088,719,000 1,161,536,000 1,278,514,000 1,303,932,000 1,288,338,000 1,465,479,000 1,531,381,000 1,398,684,000 1,364,175,000 1,546,375,000

Active Student Enrollment*
111,751 112,708 113,151 112,084 111,854 112,097 107,379 106,970 106,703 106,358

Cost

Per Pupil Enrolled

$

9,742

10,306 11,299

11,634 11,518

13,073

14,261

13,075

12,785 14,539

Percentage of
Change
-0.33% 5.78% 9.64% 2.96% -0.99% 13.50% 9.09% -8.32% -2.22% 13.72%

Professional Personnel
8,036 8,050 8,099 8,092 8,141 8,217 8,224 8,284 8,400 8,386

Ratio of Pupils to Professional Personnel
13.8 13.9 13.9 13.8 13.7 13.6 13.0 12.9 12.7 12.7

Note: Professional personnel consists of all certified personnel including teachers, librarians, counselors, supervisors consultants, coordinators, principals, assistant principals and other leadership personnel.

145

COBB COUNTY SCHOOL DISTRICT GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE BY FUNCTION LAST TEN FISCAL YEARS

BEGINNING FUND BALANCE
REVENUES BY CATEGORY Local State Federal Transfers In/Other Total

June 30, 2015

June 30, 2016

June 30, 2017

June 30, 2018

$ 426,012,000 $ 446,336,000 $ 479,095,000 $ 509,679,000

451,604,000

481,430,000

514,011,000

537,122,000

6,615,000

7,277,000

5,912,000

5,964,000

264,000

1,354,000

4,949,000

655,000

884,495,000

936,397,000

1,003,967,000

1,053,420,000

EXPENDITURES BY FUNCTION Instruction Pupil Services Improvement of Instr Services Instructional Staff Training Educational Media Services General Administration School Administration Business Services Maintenance and Operation Student Transportation Central Operations Other Support Services School Nutrition Program Community Service Operations Capital Outlay Transfers Out Total
Restatements
Ending Total Fund Balance
Fund Balances Nonspendable Restricted Committed Assigned Unassigned Ending Total Fund Balance

656,240,000 19,248,000 11,615,000 14,498,000 7,843,000 55,634,000 5,900,000 61,746,000 44,695,000 14,966,000 21,000 74,000 2,000 2,313,000
894,795,000

694,953,000 25,478,000 10,372,000 15,340,000 9,817,000 68,971,000 6,467,000 64,279,000 46,566,000 18,098,000 86,000 79,000 21,000 3,966,000
964,493,000

715,250,000 24,385,000 12,518,000 15,676,000 10,748,000 71,356,000 7,077,000 66,604,000 47,984,000 16,921,000 99,000 419,000 82,000 16,000 5,980,000
995,115,000

726,735,000 27,891,000 13,897,000 15,834,000 10,769,000 75,311,000 7,775,000 68,797,000 51,150,000 19,064,000 87,000 409,000 86,000 8,132,000
1,025,937,000

$ 132,482,000 $ 104,386,000 $ 113,238,000 $ 140,721,000

$

844,000 $

1,004,000 $

2,151,000 $

980,000

-

-

-

-

10,000,000

8,200,000

-

-

31,050,000

20,342,000

15,023,000

30,535,000

90,588,000

74,840,000

96,064,000

109,206,000

$ 132,482,000 $ 104,386,000 $ 113,238,000 $ 140,721,000

(a) General Fund assigned fund balance increased due to the sale of three District properties. Source: District Records

146

June 30, 2019 (a)

June 30, 2020

June 30, 2021

June 30, 2022

June 30, 2023

June 30, 2024

$ 556,557,000 539,400,000 5,942,000 19,828,000
1,121,727,000

$ 589,457,000 595,662,000 7,624,000 426,000
1,193,169,000

$ 622,525,000 559,064,000 5,287,000 709,000
1,187,585,000

$ 659,083,000 583,803,000 8,409,000 285,000
1,251,580,000

$ 739,474,000 613,549,000 20,566,000 819,000
1,374,408,000

$ 827,475,000 684,794,000 14,075,000 5,628,000
1,531,972,000

767,201,000 27,645,000 20,556,000 16,510,000 12,100,000 70,791,000 8,047,000 70,851,000 55,013,000 21,140,000 475,000 386,000 90,000 2,372,000 1,607,000
1,074,784,000
$ 187,664,000

823,950,000 36,978,000 20,522,000 17,738,000 12,218,000 76,989,000 8,594,000 80,258,000 55,801,000 18,877,000 741,000 471,000 98,000 14,000 3,019,000
1,156,268,000
$ 224,565,000

735,116,000 32,854,000 22,510,000 25,000 17,178,000 12,301,000 76,708,000 9,106,000 76,366,000 48,533,000 19,498,000 481,000 477,000 98,000 1,809,000 8,332,000
1,061,392,000
$ 350,758,000

870,884,000 32,405,000 23,402,000 6,000 18,241,000 15,087,000 81,059,000 9,045,000 81,244,000 54,083,000 19,827,000 407,000 411,000 102,000 6,269,000 6,235,000
1,218,707,000

959,680,000 35,721,000 27,548,000 20,480,000 15,944,000 90,995,000 10,096,000 87,918,000 64,484,000 23,671,000 646,000 454,000 405,000 26,133,000
1,364,175,000

(1,710,000)

$ 381,921,000 $ 392,154,000

1,086,346,000 40,199,000 33,550,000 67,000 22,604,000 18,720,000
101,624,000 11,517,000
107,712,000 83,496,000 38,073,000 686,000 1,312,000 469,000 1,279,000
1,547,654,000
$ 376,472,000

$

828,000 $

1,227,000 $

1,234,000 $

1,333,000 $

1,135,000 $

1,677,000

-

-

927,000

927,000

-

-

-

-

-

-

-

-

66,131,000

83,681,000

163,978,000

181,354,000

201,331,000

176,438,000

120,705,000

139,657,000

184,619,000

198,307,000

189,688,000

198,357,000

$ 187,664,000 $ 224,565,000 $ 350,758,000 $ 381,921,000 $ 392,154,000 $ 376,472,000

147

COBB COUNTY SCHOOL DISTRICT GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCE BY OBJECT LAST TEN FISCAL YEARS

BEGINNING FUND BALANCE

June 30, 2015

June 30, 2016

June 30, 2017

June 30, 2018

June 30, 2019

REVENUES BY CATEGORY Local State Federal Transfers In/Other Total

$ 426,012,000 $ 446,336,000 $ 479,095,000 $ 509,679,000 $ 556,557,000

451,604,000

481,430,000

514,011,000

537,122,000

539,400,000

6,615,000

7,277,000

5,912,000

5,964,000

5,942,000

264,000

1,354,000

4,949,000

655,000

19,828,000

884,495,000

936,397,000

1,003,967,000

1,053,420,000

1,121,727,000

EXPENDITURES BY OBJECT Salaries Fringe Benefits
Group Health Insurance FICA Medicare Teachers Retirement System Unemployment Compensation Workers Compensation On Behalf Payments Supplemental Tax Shelter Life & LTD Insurance
Total Fringe Benefits

$ 597,208,000.00 $ 641,703,000.00 $ 659,731,000.00 $ 669,160,000.00 $ 693,741,000.00

91,219,000 34,975,000 8,184,000 71,035,000
224,000 4,461,000
327,000 1,292,000
211,717,000

97,554,000 37,608,000 8,807,000 82,820,000
99,000 5,287,000
389,000 1,370,000
233,934,000

103,240,000 38,657,000 9,054,000 86,467,000
99,000 5,594,000 1,858,000
313,000 1,636,000
246,918,000

107,561,000 39,102,000 9,158,000 103,002,000
62,000 7,320,000 1,848,000
290,000 1,349,000
269,692,000

101,661,000 40,562,000 9,424,000 130,503,000
62,000 7,596,000 1,802,000
270,000 1,436,000
293,316,000

Total Salaries and Fringe Benefits

808,925,000

875,637,000

906,649,000

938,852,000

987,057,000

General Operating Contract Services Repairs & Maintenance Services - Technology Related Rentals of Land or Building Rental of Equipment & Vehicles Other Rentals Student Transportation Purchased from Other Sources Insurance (Other Than Employee Benefits) Communication (Postage, Advertising, etc.) Web-based Subscriptions & Licenses Tuition to Private Sources Other Tuition Travel - Board Member Payments of Pass Through Funds Payments to Charter Schools Other Purchased Services Residential Facilities Supplies Supplies - Technology Related Computer Software Expendable Equipment Expendable Computer Equipment Books & Periodicals Dues & Fees Other Expenditures Transfer to Other Funds Purchase of Equipment Purchase of Buses Purchase of Equipment - Technology Related Land Acquisition Land Improvements Building Acquisition, Construction or Improvement Textbooks
Legal Fees Legal Fees Base Legal Fees
Utilities Water & Sewer Natural Gas Electricity
Gas and Diesel Telephone Repair and Maintenance Employee Travel & Mileage

8,292,000 580,000 241,000 25,000 297,000 167,000 97,000
13,513,000 4,494,000
8,337,000
835,000 4,582,000 1,494,000 2,782,000
1,211,000
22,000 2,313,000
375,000 927,000 1,382,000
50,000
1,252,000
676,000 933,000
2,192,000 1,843,000 16,048,000 4,714,000 1,901,000 3,750,000
545,000

8,223,000 754,000 5,000 243,000 1,000 361,000 162,000 1,000 -
13,543,000 4,430,000
9,281,000
797,000 6,848,000 1,493,000 2,445,000
1,399,000
61,000 3,966,000
339,000 1,158,000
213,000 -
61,000 11,000 1,007,000
959,000 932,000
2,511,000 1,502,000 15,957,000 3,355,000 2,284,000 3,916,000
638,000

10,046,000 2,160,000
12,000 261,000
50,000 366,000
117,000
2,000 8,000 11,638,000 3,801,000 1,578,000 8,631,000 777,000 5,765,000 1,656,000 1,558,000
1,671,000
52,000 5,980,000
361,000 -
239,000 -
83,000 6,000
1,040,000
950,000 960,000
2,553,000 1,351,000 15,808,000 3,570,000
855,000 3,858,000
703,000

9,674,000 2,066,000
4,000 272,000
385,000 57,000 221,000 2,000 1,000 5,000 4,202,000 4,809,000 1,535,000 8,608,000 803,000 6,296,000 1,370,000 2,463,000 25,000 1,799,000 53,000 8,132,000 398,000 695,000 1,260,000 262,000 173,000 720,000
864,000 960,000
2,245,000 1,545,000 15,678,000 4,367,000
886,000 3,607,000
643,000

10,668,000 2,068,000
77,000 17,000 84,000
1,000 -
459,000 149,000 251,000
2,000 7,000 4,421,000 5,369,000 1,593,000 8,177,000 745,000 6,759,000 1,173,000 2,604,000 17,000 2,070,000 51,000 1,607,000 386,000 767,000 805,000 2,372,000 388,000 783,000 973,000
1,459,000 989,000
2,518,000 1,657,000 15,650,000 4,586,000
665,000 4,595,000
765,000

Total

$ 894,795,000 $ 964,493,000 $ 995,115,000 $ 1,025,937,000 $ 1,074,784,000

Ending Total Fund Balance

132,482,000

104,386,000

113,238,000

140,721,000

187,664,000

Fund Balances Nonspendable Restricted Committed Assigned Unassigned
Ending Total Fund Balance

$

844,000 $

1,004,000 $

2,151,000 $

980,000 $

828,000

-

-

-

-

-

10,000,000

8,200,000

-

-

-

31,050,000

20,342,000

15,023,000

30,535,000

66,131,000

90,588,000

74,840,000

96,064,000

109,206,000

120,705,000

$ 132,482,000 $ 104,386,000 $ 113,238,000 $ 140,721,000 $ 187,664,000

Source: District Records

148

June 30, 2020

June 30, 2021

June 30, 2022

June 30, 2023

June 30, 2024

$ 589,457,000 $ 622,525,000 $ 659,083,000 $

739,474,000 $

595,662,000

559,064,000

583,803,000

613,549,000

7,624,000

5,287,000

8,409,000

20,566,000

426,000

709,000

285,000

819,000

1,193,169,000

1,187,585,000

1,251,580,000

1,374,408,000

827,475,000 684,794,000 14,075,000
5,628,000 1,531,972,000

$ 751,315,000.00 $ 690,418,000.00 $ 802,660,000.00 $ 870,665,000.00 $

113,239,000 43,802,000 10,262,000 143,647,000
101,000 8,284,000 1,909,000
313,000 1,380,000
322,937,000

106,058,000 41,059,000 9,413,000 121,351,000
240,000 6,731,000 1,941,000
268,000 1,213,000
288,274,000

112,420,000 46,925,000 10,992,000 142,545,000
96,000 6,534,000 2,041,000
271,000 1,222,000
323,046,000

144,478,000 50,955,000 11,941,000 158,815,000
99,000 7,659,000 2,184,000
283,000 1,216,000
377,630,000

1,074,252,000

978,692,000

1,125,706,000

1,248,295,000

995,273,000.00
178,897,000 58,556,000 13,711,000 178,615,000
102,000 8,915,000 2,186,000
209,000 1,355,000 442,546,000
1,437,819,000

9,182,000 1,054,000
6,000 -
20,000 1,000 -
299,000 1,264,000
346,000 -
1,000 2,585,000 4,608,000 1,698,000 6,906,000
677,000 4,487,000
839,000 2,671,000
9,000 1,972,000
62,000 3,019,000
445,000 309,000 1,401,000
14,000 511,000 3,264,000 985,000

7,492,000 1,692,000
4,000 188,000
85,000 358,000 2,396,000 339,000
3,350,000 1,678,000 10,405,000 638,000 3,714,000 1,420,000 2,115,000 4,000 1,820,000 48,000 8,332,000 2,564,000 1,419,000 76,000 163,000 194,000 943,000

8,870,000 1,701,000
44,000 2,000 70,000 1,000
352,000 2,310,000 253,000
1,000
3,553,000 1,621,000 9,693,000 615,000 3,699,000 1,034,000 1,186,000 3,000 2,202,000 46,000 6,235,000 6,704,000 469,000 422,000 135,000 295,000 1,029,000

10,087,000 1,535,000
71,000 4,000 75,000 1,000
427,000 1,996,000 736,000
2,000
4,582,000 1,841,000 11,010,000 487,000 4,761,000 1,643,000 1,159,000 2,000 1,610,000 246,000 26,133,000 490,000 1,023,000 407,000 512,000 714,000

1,068,000 989,000

1,142,000 994,000

2,047,000 989,000

2,045,000 1,599,000

2,481,000 1,452,000 16,042,000 3,398,000
876,000 6,548,000
527,000

2,601,000 1,524,000 14,404,000 2,282,000 1,344,000 6,886,000
86,000

3,287,000 1,796,000 16,397,000 5,479,000
924,000 9,037,000
500,000

3,031,000 1,759,000 17,812,000 6,077,000
913,000 10,271,000
819,000

$ 1,156,268,000 $ 1,061,392,000 $ 1,218,707,000 $ 1,364,175,000 $

224,565,000

350,758,000

381,921,000

392,154,000

9,636,000 904,000 69,000 7,000 105,000 1,000 397,000
3,394,000 853,000 3,000
5,228,000 2,149,000 9,527,000
497,000 5,528,000 1,835,000 1,254,000
1,000 1,711,000 1,312,000 1,279,000
358,000 7,265,000 1,659,000
3,903,000 667,000
1,177,000 3,131,000
3,636,000 1,696,000 20,803,000 6,383,000
944,000 11,622,000
901,000
1,547,654,000
376,472,000

$

1,227,000 $

1,234,000 $

1,333,000 $

-

927,000

927,000

-

-

-

83,681,000

163,978,000

181,354,000

139,657,000

184,619,000

198,307,000

$ 224,565,000 $ 350,758,000 $ 381,921,000 $

1,135,000 $ -
201,331,000 189,688,000 392,154,000 $

1,677,000 -
176,438,000 198,357,000 376,472,000

149

COBB COUNTY SCHOOL DISTRICT GENERAL FUND REVENUE BY SOURCE LAST TEN FISCAL YEARS

Local Revenue Property Tax Revenue Property Tag Revenue Delinquent Tax Revenue Intangible Tax Revenue Real Estate Transfer Alcoholic Beverages Liquor by the Drink Tuition Interest on Delinquent Taxes Interest Income Half Time Exhibition Local Revenue Cell Tower Local Revenue Other (Reclass) Reimbursement for Damages Leased Property Revenue
Total Local/Transfer Revenue
State Revenue Miscellaneous State Grants State of GA QBE Revenue
Total State Revenue

June 30, 2015

June 30, 2016

June 30, 2017

June 30, 2018

$ 361,261,000 $ 384,221,000 $ 417,004,000 $ 444,795,000

44,104,000

42,420,000

40,012,000

40,328,000

2,393,000

1,258,000

2,327,000

1,244,000

8,890,000

9,829,000

10,507,000

10,009,000

3,483,000

4,136,000

4,139,000

4,398,000

1,159,000

1,210,000

1,310,000

1,259,000

523,000

567,000

534,000

769,000

3,000

1,000

1,000

-

845,000

645,000

563,000

532,000

449,000

543,000

1,100,000

2,820,000

10,000

11,000

11,000

9,000

1,314,000

607,000

395,000

1,889,000

1,244,000

15,000

1,149,000

1,052,000

1,000

1,000

-

-

39,000

39,000

43,000

43,000

425,718,000

445,503,000

479,095,000

509,147,000

6,120,000 445,484,000 451,604,000

5,958,000 475,472,000 481,430,000

5,762,000 508,249,000 514,011,000

9,546,000 527,576,000 537,122,000

Federal Revenue Indirect Cost Revenue ROTC Instructor Reimbursement MedACE Revenue Medicaid Revenue Misc. Federal Revenue
Total Federal Revenue
Local Revenue - Other Local Revenue - Other Sale of Assets Transfer from Other Funds
Total Revenue

3,302,000 849,000
1,189,000 462,000 813,000
6,615,000

3,059,000 1,045,000
984,000 1,260,000
929,000 7,277,000

3,277,000 1,214,000 1,007,000
212,000 202,000 5,912,000

3,252,000 1,018,000
901,000 773,000
20,000 5,964,000

139,000 294,000 125,000 558,000

834,000 833,000 520,000 2,187,000

4,826,000 -
123,000 4,949,000

532,000 532,000 123,000 1,187,000

$ 884,495,000 $ 936,397,000 $ 1,003,967,000 $ 1,053,420,000

Source: District Records

150

June 30, 2019

June 30, 2020

June 30, 2021

June 30, 2022

June 30, 2023

June 30, 2024

$ 485,825,000 $ 515,945,000 $ 540,663,000 $ 572,105,000 $ 640,105,000 $ 717,005,000

41,996,000

43,420,000

49,224,000

53,640,000

56,519,000

57,412,000

1,506,000

2,127,000

2,651,000

2,317,000

1,571,000

3,377,000

9,627,000

12,783,000

19,897,000

16,272,000

9,067,000

7,775,000

4,942,000

4,341,000

5,709,000

7,372,000

4,855,000

3,975,000

1,302,000

1,402,000

1,740,000

1,832,000

1,393,000

1,842,000

914,000

795,000

817,000

1,255,000

1,447,000

1,415,000

-

-

-

-

-

-

490,000

596,000

292,000

586,000

543,000

994,000

5,984,000

4,702,000

358,000

867,000

19,984,000

28,964,000

-

-

-

-

-

1,807,000

989,000

523,000

1,760,000

1,520,000

1,346,000

2,110,000

2,336,000

944,000

1,045,000

2,416,000

3,327,000

-

-

-

-

-

-

-

-

-

54,000

43,000

556,503,000

589,436,000

622,818,000

659,051,000

739,474,000

827,475,000

6,886,000 532,514,000 539,400,000

9,716,000 585,946,000 595,662,000

7,316,000 551,748,000 559,064,000

6,278,000 577,525,000 583,803,000

7,432,000 606,117,000 613,549,000

33,055,000 651,739,000 684,794,000

3,551,000 1,130,000 1,047,000
195,000 19,000
5,942,000

4,321,000 1,270,000 1,403,000
608,000 22,000
7,624,000

2,114,000 1,130,000
965,000 827,000 251,000 5,287,000

4,480,000 1,510,000 2,004,000
390,000 25,000
8,409,000

13,198,000 -
2,146,000 5,200,000
22,000 20,566,000

5,921,000 1,370,000 1,106,000 5,658,000
20,000 14,075,000

19,705,000 54,000 123,000
19,882,000

303,000 21,000 123,000 447,000

239,000 54,000 123,000 416,000

285,000 32,000 317,000

415,000 404,000
819,000

270,000 5,358,000 5,628,000

$ 1,121,727,000 $ 1,193,169,000 $ 1,187,585,000 $ 1,251,580,000 $ 1,374,408,000 $ 1,531,972,000

151

COBB COUNTY SCHOOL DISTRICT RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL BONDED DEBT TO TOTAL GENERAL FUND EXPENDITURES LAST TEN FISCAL YEARS

Fiscal Year

Debt Service Expenditures

General Fund
Expenditures

Ratio of Debt Service Fund to General Fund
Expenditures

2015

$

2016

2017

2018

2019

2020

2021

2022

2023

2024

-$ -

893,446,000 962,567,000 989,135,000 1,017,805,000 1,073,177,000 1,153,249,000 1,053,060,000 1,212,472,000 1,338,042,000 1,546,375,000

0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Source: District Records

152

COBB COUNTY SCHOOL DISTRICT RESULTS OF ALL BOND AND SALES TAX REFERENDUMS 1950 - PRESENT

Referendums:

Year

Amount

Maturity Action

Pro

Con

1950 $ 1957 1961 1962 1964 1969 1973 1977 1979 1981 1985 1987 1989 1991 1995 1997 1998 2003 2008 2013 2017 2021

1,500,000 1,750,000 2,500,000 3,000,000 4,000,000 15,000,000 16,500,000 22,000,000 20,000,000 8,000,000 27,000,000 58,500,000 59,500,000 39,600,000 220,865,000 609,200,000 626,773,000 636,504,000 797,657,000 717,845,000 797,022,000 894,891,000

1970 1977 1980 1983 1994 1990 1994 1996 1997 1997 1997 2001 2002 2004 2007 2002 2003 2008 2013 2018 2023 2028

Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Failed Passed Passed Passed Passed Passed Passed

2,907 2,023 3,187 2,816 2,942 7,769 7,405 10,694 9,725 9,858 24,476 10,716 15,510 20,197 18,140 14,204 36,433 36,078 21,873 23,273 25,160 35,466

841 562 868 986 1,629 2,922 5,165 4,241 7,611 7,511 11,481 2,573 2,311 6,409 13,124 18,820 26,403 10,262 14,137 17,325 8,902 13,723

Void
17 31 38 36 63 5 10 22 219 103
65 126 268 142 177 545
44 44 -

Total Votes

Approval Percentage

3,765 2,616 4,093 3,838 4,634 10,696 12,580 14,957 17,555 17,472 35,957 13,354 17,947 26,874 31,406 33,201 63,381 46,340 36,010 40,642 34,106 49,189

77.56% 78.26% 78.59% 74.07% 64.36% 72.67% 58.91% 71.60% 56.10% 56.76% 68.07% 80.64% 87.03% 75.91% 58.02% 43.01% 57.98% 77.85% 60.74% 57.33% 73.87% 72.10%

Note: 1997, 1998, 2003, 2008, 2013, 2017 and 2021 referendums were for a 1% local option sales tax with the amounts shown representing an estimate of collections for the full five year life of the tax. Source: Cobb County Board of Elections.

153

COBB COUNTY SCHOOL DISTRICT SCHEDULE OF INSURANCE IN FORCE JUNE 30, 2024

Type of Coverage
Automobile Physical Damage Bus, Truck, Motor Vehicles Liability Property Theft Employee's Crime General Liability Property Boiler (Includes Insurance) Student Athletic
Healthcare Professional Liability Superintendent's Bond Principal's Bond Worker's Compensation Excess Worker's Compensation Excess Flood
Excess Flood Garrett MS Aviation Liability
Disability, Long-Term
Disability, Short-Term
STD Plan Option 1
STD Plan Option 2
STD Plan Option 3
STD Plan Option 4
Life Insurance and AD&D

Name of Company and Policy Number
Hudson Insurance PEA0005278-03 Self Insured
Self Insured Great American Insurance GVT F060994 00 0 Self Insured Federal Insurance 36030632 TPA
Student Assurance Services 10-16-1539-470-100-3 Liberty Insurance AHV-103741005 Old Republic Surety Co. APO2121620 Old Republic Surety Co. APS1177822 Self Insured Safety National Corp SP 4067407 Lloyd's of London GIQF2000 Lloyds of London DEF116700053-09 American Alterative 9036063 The Hartford 402273 The Hartford 402273
The Hartford 402273

Policy Period

From

To

07/1/2023

07/1/2024

6/1/1994

Ongoing

6/1/1994 8/1/2023

Ongoing 8/1/2024

6/1/1994 7/1/2023

Ongoing 7/1/2024

$3,000,000
$300,000
N/A $7,500,000
$500,000 $500,000,000

Liability Limits

Annual Premium
$125,373
N/A
N/A $28,526
N/A $1,101,653

8/1/2023 2/1/2024 5/1/2024 8/1/2023
N/A 10/1/2023 07/01/2023 07/01/2023 01/18/2024 1/1/2024 1/1/2024
1/1/2024

8/1/2024

Varies

Student/Parent Funded

2/01/2025 $1,000,000

$8,594

5/1/2025

$100,000

$350

8/1/2024

$10,000

$3,990

N/A 10/1/2024

Statutory $1,000,000

N/A $246,432

07/01/2024 $2,853,000

$7,670

07/01/2024 $15,000,000

$19,100

1/18/2025 $1,000,000

$1,413

12/31/2024 180 Day Elimination Period. $.117 per $100 of monthly salary Salary Based

12/31/2024 12/31/2024

All plans- maximum benefit duration is 4 weeks.

Salary Based

14 Day Elimination Period. 66.67% of standard income up to $1,500 per week.
60 Day Elimination Period. 66.67% of standard weekly income, up to $1,500 per week.
14 Day Elimination Period. 50% of standard weekly income, up to $1,200 per week.
60 Day Elimination Period. 50% of standard weekly income, up to $1,200 per week.

Employee pays $.230 per $10 of weekly benefit.
Employee pays $.132 per $10 of weekly benefit.
Employee pays $.231 per $10 of weekly benefit.
Employee pays $.145 per $10 of weekly benefit.
The first $15,000 is paid by CCSD. (smokers and non-smokers) Employee can add $.135 per $1000.00

154

COBB COUNTY SCHOOL DISTRICT SCHEDULE OF INSURANCE IN FORCE JUNE 30, 2024

Type of Coverage Dependent Life

Name of Company and Policy Number The Hartford 402273

Optional Life and AD&D
Dental Insurance Plus Option

The Hartford 402273
MetLife Dental 158287

Base Option

Policy Period

From

To

1/1/2024

12/31/2024

Liability Limits Coverage options: Child $10,000 or $25,000 Spouse up to $50,000

1/1/2024

12/31/2024

Employee can choose up to 7 times his/her annual earnings. (Max. $500,000)

Annual Premium Employee pays $1.74 for $10,000 of coverage of child(ren) or $4.36 for $25,000 of coverage; Spousal coverage rate depends on the age of the spouse.
Employee pays $0.152 per $1,000 of Supplemental Life coverage monthly.

1/1/2024 1/1/2024

12/31/2024 12/31/2024

Plus Plan provides preferred rates with a maximum coverage of $1,000 per participant per calendar year. Base Plan has co-pays for Preventative and Diagnostic services with a maximum of $750 coverage per participant per calendar year.

Employee pays $43.06 for single coverage, $80.52 for employee plus one, or $131.30 for family coverage monthly.
Employee pays $18.04 for single coverage, $33.94 for employee plus one, or $58.44 for family coverage monthly.

Critical Illness with Cancer Insurance Vision Insurance Plus Plan Base Plan Legal Insurance
Accident Insurance
Hospital Indemnity

Voya 70174-2 MetLife Vision 158287
ARAG Group 17840 Voya 70174-2
Voya 70174-2

Source: District Records

1/1/2024
1/1/2024 1/1/2024 1/1/2024 1/1/2024 1/1/2024

12/31/2024 Based on Benefit Schedule

12/31/2024

Based on Benefit Schedule

12/31/2024 12/31/2024 Based on Benefit Schedule

12/31/2024 Based on Benefit Schedule

12/31/2024 Based on Benefit Schedule

Cost is determined based on age and amount of coverage elected by employee. Employee pays rates monthly depending on chosen plan. Single coverage is $8.30; coverage for employee plus one family Singlbe coive$r1ag5e4i8s $6.d86f; coivl erage
Employee pays $13.52 for single coverage or $16.88 for family.
Employee pays monthly premium of $7.58 self, $12.58 self and spouse, $14.84 self and children, or $19.84 family. Employee pays monthly premium of $9.54 self, $22.62 self and spouse, $14.60 self and children, or $27.70 family.
Concluded.

155

COBB COUNTY SCHOOL DISTRICT SCHOOL LUNCH AND BREAKFAST PROGRAM LAST TEN FISCAL YEARS

Lunch Meals Served: Free Reduced Paid Total Daily Average Student Price

2015
6,317,000 813,000
4,492,000 11,622,000
66,411 $2.15-$2.40

2016
6,360,000 783,000
4,455,000 11,598,000
64,433 $2.25-$2.50

2017
6,119,000 868,000
4,293,000 11,280,000
63,371 $2.25-$2.50

2018
5,569,000 834,000
4,149,000 10,552,000
60,994 $2.25-$2.50

2019
5,430,000 860,000
4,339,000 10,629,000
60,051 $2.35-$2.60

2020

2021(a)

4,153,000 695,000
3,423,000 8,271,000
61,724 $2.35-$2.60

6,129,000 13,000 16,000
6,158,000 36,224
$2.50-$2.75

Breakfast Meals Served: Free Reduced Paid Total Daily Average
Student Price

2,850,000 239,000 414,000
3,503,000 20,017
$1.25

2,916,000 246,000 453,000
3,615,000 20,083
$1.25

2,853,000 290,000 468,000
3,611,000 20,287
$1.25

2,527,000 275,000 469,000
3,271,000 18,908
$1.25

2,456,000 288,000 517,000
3,261,000 18,424
$1.25

1,988,000 242,000 460,000
2,690,000 20,075
$1.50

3,713,000 13,000 16,000
3,742,000 22,012
$1.75

Total Meals Served: Free Reduced Paid Total Daily Average
Free/Reduced %

9,167,000 1,052,000 4,906,000 15,125,000
86,428
67.6%

9,276,000 1,029,000 4,908,000 15,213,000
84,516
67.7%

8,972,000 1,158,000 4,761,000 14,891,000
83,658
68.0%

8,096,000 1,109,000 4,618,000 13,823,000
79,902
66.6%

7,886,000 1,148,000 4,856,000 13,890,000
78,475
65.0%

6,141,000 937,000
3,883,000 10,961,000
81,799
64.6%

9,842,000 26,000 32,000
9,900,000 58,236
99.7%

(a) Due to the pandemic, USDA made all student meals free for the majority of the 2021 school year. (b) Due to the pandemic, USDA made all student meals free for the 2022 school year and the majority of the summer learning recovery program.

Source: District Records

2022(b)
11,260,000 0
6,000 11,266,000
63,650 $2.75-$3.00
4,590,000 0
3,000 4,593,000
25,949 $1.75
15,850,000 0
9,000 15,859,000
89,599 99.9%

2023
4,615,000 907,000
4,161,000 9,683,000
55,017 $2.75-$3.00
2,246,000 358,000 863,000
3,467,000 19,699 $1.75
6,861,000 1,265,000 5,024,000 13,150,000
74,716 61.8%

2024
5,537,000 908,000
3,510,000 9,955,000
56,886 $3.50
2,635,000 382,000 614,000
3,631,000 20,749 $2.50
8,172,000 1,290,000 4,124,000 13,586,000
77,635 69.6%

156

COBB COUNTY SCHOOL DISTRICT NUMBER OF SCHOOLS LAST TEN FISCAL YEARS

Fiscal Year 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Elementary 67 67 67 67 67 67
66 (b) 66 66 66

Middle 25 25 25 25 25 25 25
26 (c) 26 26

High 16 16 16 16 16
17 (a) 17 17 17 17

Special Schools
4 4 4 4 2 2 3 3 3 3

Total 112 112 112 112 110 111 111 112 112 112

Notes on Special Schools (Programs): 1. Ackerman Academy/Devereux is a residential treatment facility. 2. Haven Academy is a program. 3. Performing Learning Center (PLC) was a program that closed after FY2018. 4. Oakwood was a program that closed after FY2018. 5. South Cobb Early Learning Center is a program and has been open since 2021. (a.) In 2020 Cobb Horizon opened. (b.) In 2021, CCSD combined Clay and Harmony Leland Elementary at one location. (c.) In 2022, Pearson Middle School opened.
Source: District Records

157

COBB COUNTY SCHOOL DISTRICT NUMBER OF HIGH SCHOOL GRADUATES AND AVERAGE DAILY ATTENDANCE LAST TEN FISCAL YEARS

Fiscal Year
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Active Student Enrollment*
111,751 112,708 113,151 112,084 111,854 112,097 107,379 106,970 106,703 106,358

Average Daily
Attendance
106,895 107,872 108,150 106,863 106,876 107,899 102,586 100,455 100,301 99,777

Attendance Percentage
96% 96% 96% 95% 96% 96% 96% 94% 94% 94%

Number of Graduates
7,366 7,714 7,970 8,126 8,261 8,379 8,084 8,278 8,273 8,138

Graduate Percentage
81.45% 83.80% 83.60% 85.20% 87.00% 88.60% 87.20% 87.40% 87.70% 87.90%

Note: Beginning in 2016 Graduate Percentages were adjusted to match the Georgia Department of Education four-year Adjusted Cohort Graduation Rate (ACGR). This rate calculation began for the school year ended 2012 and is released in October with a one-year lag. (i.e.) the school year ended 2016 will be available October 2017)
Source: District Records - *Active enrollment changed to FTE.
N/A - Information not available at time of publication.

158

COBB COUNTY SCHOOL DISTRICT ACTIVE ENROLLMENT BY GRADE LEVEL LAST TEN FISCAL YEARS

2015

Pre-K and K Grade 1 Grade 2 Grade 3 Grade 4 Grade 5 Grade 6 Grade 7 Grade 8 Grade 9 Grade 10 Grade 11 Grade 12 Total

9,074 8,444 8,761 8,602 8,527 8,657 8,239 8,465 8,561 10,689 9,139 6,822 7,771 111,751

2016
8,908 8,429 8,587 8,929 8,604 8,611 8,572 8,396 8,594 10,561 9,243 7,211 8,063 112,708

2017
8,872 8,193 8,567 8,749 8,911 8,739 8,459 8,619 8,522 10,478 9,183 7,656 8,203 113,151

2018
8,771 7,998 8,094 8,500 8,607 8,863 8,607 8,516 8,631 10,133 9,229 7,722 8,413 112,084

2019
8,637 7,940 8,164 8,180 8,498 8,671 8,912 8,681 8,579 10,136 9,143 7,799 8,514 111,854

2020
8,963 7,819 8,128 8,156 8,301 8,593 8,729 9,020 8,808 10,080 9,143 7,825 8,532 112,097

2021
7,221 7,502 7,407 7,710 7,871 8,076 8,333 8,588 8,897 9,413 9,355 8,346 8,660 107,379

2022
7,879 7,389 7,593 7,448 7,701 7,935 8,050 8,384 8,675 10,385 8,950 7,920 8,661 106,970

2023
7,856 7,489 7,550 7,617 7,571 7,806 8,055 8,218 8,505 10,205 9,436 7,856 8,539 106,703

2024
7,797 7,330 7,568 7,647 7,710 7,759 7,938 8,177 8,320 10,106 9,017 8,366 8,623 106,358

Source: District Records; Changed to use FTE enrollment in 2023

159

COBB COUNTY SCHOOL DISTRICT CLASSROOM BUILDINGS, GRADE LEVELS AND ACREAGE JUNE 30, 2024

School Name Acworth Elementary Addison Argyle Austell Baker Bells Ferry Belmont Hills Big Shanty Birney Blackwell Brown (b) Brumby Bryant Bullard Chalker Cheatham Hill City View Clarkdale Clay- Harmony Leland Clay Compton Davis Dowell Due West East Side Eastvalley Fair Oaks Ford Frey Garrison Mill Green Acres Hayes Hendricks Hollydale Keheley Kemp Kennesaw Kincaid King Springs LaBelle Lewis Mableton McCall Primary Milford Mount Bethel Mountain View Murdock Nicholson Nickajack Norton Park Pickett's Mill Pitner Powder Springs Powers Ferry Riverside Elementary Rocky Mount Russell Sanders Sedalia Park Shallowford Falls Smyrna Sope Creek Still

Grades 2-5 K-5 K-5 K-5 K-5 K-5 K-5 3-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-2 K-5 K-5 K-5 K-5 K-5 K-1 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5

Active Enrollment
505 571 309 358 774 762 276 545 686 583
1,026
855 822 682 990 907 745 988
631 608 880 648 1,066 693 724 747 745 646 557 801 501 546 390 918 606 611 1,103 356 552 910 290 353 919 835 911 414 1,191 654 734 790 817 388 511 582 582 619 583 598 876 1,106 757

Size of Site (acres)
15.0 12.5
8.8 12.4 15.0 10.0 10.2 22.3 26.8 16.0
6.2 18.0 22.9 20.0 26.4 19.2 31.6 15.0 15.2 8.0 28.3 13.0 28.9 10.2 11.0 20.0 10.3 52.5 26.2 14.1 10.1 24.2 23.0 15.0 20.7 28.0 20.7 24.0 9.9 10.2 10.9 12.1 6.0 8.7 25.0 16.1 15.3 23.1 16.8 9.2 40.9 22.2 15.9 10.0 9.0 21.8 14.1 21.1 10.2 15.3 11.9 16.0 10.9

Occupied Year (a)
2001 1989 1961 2005 1988 1962 1952 1969 1973 1997 1955 2018 1991 2003 1997 1997 2001 2012 2020 1961 1969 1987 1989 1957 2011 2023 1957 1991 1996 1984 1995 1994 2002 1968 1987 2003 1992 1972 2020 1955 1986 2012 2005 1954 1978 2017 1975 1989 1998 1961 2008 2003 1988 1951 2005 1977 1961 1997 1956 1990 2013 1978 1978

Number of Classrooms
59 42 36 36 65 46 36 52 59 52
73 61 63 62 68 61 55 78
50 50 62 38 69 61 54 53 62 44 44 61 61 53 38 61 62 48 77 44 61 61 36 40 60 61 61 40 60 52 63 61 57 30 36 39 61 53 58 61 61 74 62

Portable Classrooms
6 1 2 1
-
2 2 1 2 4 8 5 4 -

Square Footage
131,924 81,334 56,904 85,236 106,694 83,098 68,409 84,461 105,886 111,299 49,828
168,576 116,071 136,261 124,148 137,108 123,000 129,988 186,930 55,412 88,079 86,131 106,003 70,367 149,764 150,884 97,993 91,129 125,717 85,775 90,915 119,189 123,025 89,012 70,537 123,000 116,400 83,969 162,621 82,912 115,363 148,523 88,158 73,352 110,096 144,362 123,233 75,800 122,342 87,935 139,090 136,261 101,870 59,190 85,236 72,896 104,362 116,302 99,735 112,620 143,107 143,618 117,539

Capacity 925 662 562 562
1,025 737 562 837 925 837 412
1,162 962 987 975
1,063 962 887
1,250 450 800 800 975 600
1,087 962 875 862 975 700 700 962 962 862 600 962 975 762
1,237 700 962 962 512 637 937 962 962 637 937 837 987 962 900 462 562 612 962 862 912 962 962
1,162 975

160

COBB COUNTY SCHOOL DISTRICT CLASSROOM BUILDINGS, GRADE LEVELS AND ACREAGE JUNE 30, 2024

School Name Teasley Timber Ridge Tritt Varner Vaughan Awtrey Barber Betty Gray Campbell Cooper Daniell Dickerson Dodgen Durham East Cobb Floyd Garrett Griffin Hightower Trail Lindley Lost Mountain Lovinggood Mabry McCleskey McClure Palmer Pearson Pine Mountain Simpson Smitha Tapp Allatoona Campbell Cobb Horizon Harrison Hillgrove Kell Kennesaw Mountain Lassiter McEachern North Cobb Osborne Pebblebrook Pope South Cobb Sprayberry Walton Wheeler Hawthorne (Haven) Skyview Devereux Georgia (c) South Cobb Early Learning
TOTALS

Grades K-5 K-5 K-5 K-5 K-5 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 6-12 K-12 1-12 PK

Active Enrollment
973 510 797 761 632 643 832 686 1,257 1,056 894 1,208 1,238 1,020 1,345 846 883 982 963 875 993 1,215 918 551 1,003 776 839 545 884 868 885 1,642 3,030 1,027 2,170 2,290 1,582 1,666 1,949 2,300 2,521 2,773 2,574 1,758 2,137 1,799 2,685 2,380
64 106,358

Size of Site (acres)
12.9 11.5 23.7 20.0 28.0 26.2 25.8 28.7 33.2 75.1 20.0 21.9 20.6 43.0 17.6 20.0 36.6 24.4 26.4 33.3 83.8 29.4 22.0 34.8 38.0 43.1 10.0 39.7 22.0 25.5 16.9 114.7 47.9 16.1 73.0 100.9 63.1 75.0 49.3 74.9 46.8 51.0 52.5 47.0 66.0 41.3 65.2 48.4 6.2 10.1
8.4 3,066.1

Occupied Year (a)
1961 1990 1979 1991 1996 1964 2005 1962 1951 2001 1965 1980 1975 1998 2018 1964 1972 1972 1993 2001 1992 2006 1979 1980 2006 2001 2021 1979 1988 1993 1975 2008 1964 2020 1991 2006 2002 2001 1980 1930 1957 1961 1963 1987 1951 1973 1975 1964 1958 1957
1951

Number of Classrooms
52 39 60 62 60 64 71 56 87 71 72 76 75 71 84 68 60 70 62 71 70 83 71 58 71 71 62 56 59 70 70 100 169 20 133 113 104 102 107 126 147 124 141 98 134 104 145 116
-
33 7,432

Portable Classrooms
6 -
4 -
-
34 1
83

Square Footage
108,100 73,450 109,769 109,827 122,260 156,660 178,465 133,881 220,228 170,905 177,356
169,453 183,798 173,487 222,963 166,551 152,212 186,947 149,038 179,170 165,107 191,128 165,479 149,577 191,209 175,974 176,646 169,809 143,888 169,345 157,435 330,289 497,352 94,627 444,830 339,683 321,068 319,000 376,835 504,107 486,573 466,189 478,053 336,955 474,304 350,530 466,505 434,631 32,500 50,270
65,127 18,646,524

Capacity 837 612 937 975 937
1,037 1,162
900 1,437 1,162 1,175 1,237 1,225 1,162 1,387 1,112
975 1,137 1,012 1,162 1,137 1,362 1,162
937 1,162 1,162 1,012
900 962 1,137 1,137 1,937 3,303 337 2,587 2,212 2,025 1,987 2,087 2,450 2,862 2,312 2,750 1,912 2,612 2,025 2,837 2,187
-
512 126,313

* Total active enrollment does not include online virtual classrooms.
(a) Occupied year represents the year during which the school was initially opened and utilized for instructional purposes, but does not reflect the most recent year of subsequent additions, improvements, or renovations, if any.
(b) With the opening of Smyrna Elementary for school year 2013-14, Brown Elementary closed at the end of 2012-13. During fiscal year ended 2015, Brown facilities were used to house Teasley primary grades during construction of new classrooms at Teasley Elementary.
(c) Operated by unaffiliated non-profit entities. Enrollment reports by Cobb County District; buildings do not belong to the district. (d) South Cobb Early Learning students are reported at their home school.
Source: District Records

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