Bibb County School District comprehensive annual financial report for the fiscal year ended June 30, 2018

BIBB COUNTY SCHOOL DISTRICT
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED JUNE 30, 2018
Bibb County School District Finance Division
484 Mulberry Street Macon, Georgia 31201

FOR THE FISCAL YEAR ENDED JUNE 30, 2003
Prepared by:
BIBB COUNTY SCHOOL DISTRICT Bibb County School District Finance Division 484 Mulberry Street COMPREHENSIVEMaAcoNn, NGeUorgAiaL312F01INANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2018
Bibb County School District Finance Division
484 Mulberry Street Macon, Georgia 31201

BIBB COUNTY SCHOOL DISTRICT
COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2018
TABLE OF CONTENTS
Page
I. INTRODUCTORY SECTION Letter of Transmittal ................................................................................................................................... i vii GFOA Certificate of Achievement................................................................................................................. viii Board of Public Education for Bibb County Function and Composition ........................................ ix xii Bibb County School District Superintendent and Administrative Staff ...................................xiii and xiv Organizational Chart ....................................................................................................................................... xv
II. FINANCIAL SECTION Independent Auditor's Report.................................................................................................................... 1 3 Management's Discussion and Analysis ................................................................................................ 4 11 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Position ..................................................................................................................... 12 Statement of Activities ..............................................................................................................13 and 14 Fund Financial Statements: Balance Sheet Governmental Funds ................................................................................................ 15 Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds .................................................................................................... 16 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities ...................................... 17 Statement of Revenues, Expenditures and Changes in Fund Balances Budget and Actual General Fund ................................................................... 18 Statement of Net Position Proprietary Funds.................................................................................. 19 Statement of Revenues, Expenses and Changes in Fund Net Position Proprietary Funds........................................................................................................... 20 Statement of Cash Flows Proprietary Funds.......................................................................21 and 22 Statement of Fiduciary Net Position Fiduciary Funds .................................................................... 23 Statement of Changes in Fiduciary Net Position Fiduciary Funds ............................................... 24 Notes to Financial Statements ..................................................................................................... 25 68 Required Supplementary Information: Schedule of Proportionate Share of the Net Pension Liability Teachers Retirement System of Georgia ....................................................................................... 69 Schedule of Contributions Teachers Retirement System of Georgia ........................................... 70 Notes to Required Supplementary Information Teachers Retirement System of Georgia ....................................................................................... 71 Schedule of Proportionate Share of the Net Pension Liability Public School Employees Retirement System .............................................................................. 72

BIBB COUNTY SCHOOL DISTRICT
COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2018
TABLE OF CONTENTS
Page
II. FINANCIAL SECTION (CONTINUED) Required Supplementary Information (continued) Notes to Required Supplementary Information Public School Employees Retirement System .............................................................................. 73 Schedule of Proportionate Share of the Net Pension Liability Employees' Retirement System ...................................................................................................... 74 Schedule of Contributions Employees' Retirement System.......................................................... 75 Notes to Required Supplementary Information Employees' Retirement System........................ 76 Schedule of Proportionate Share of the Net OPEB Liability School OPEB Fund ........................................................................................................................... 77 Schedule of Contributions School OPEB Fund............................................................................... 78 Notes to Required Supplementary Information School OPEB Fund ................................................................................................................................ 79 Combining and Individual Fund Statements and Schedules: Combining Balance Sheet Nonmajor Governmental Funds .......................................................... 80 Combining Statement of Revenues, Expenditures and Changes in Fund Balances Nonmajor Governmental Funds .................................................................................. 81 Schedule of Expenditures of Special Purpose Local Option Sales Tax Proceeds 2011 Issue .................................................................................................... 82 Schedule of Expenditures of Special Purpose Local Option Sales Tax Proceeds 2016 Issue .................................................................................................... 83 Combining Statement of Net Position Nonmajor Enterprise Funds ............................................. 84 Combining Statement of Revenues, Expenses and Changes in Fund Net Position Nonmajor Enterprise Funds ......................................................................... 85 Combining Statement of Cash Flows Nonmajor Enterprise Funds ..................................86 and 87 Combining Statement of Net Position Internal Service Funds ...................................................... 88 Combining Statement of Revenues, Expenses and Changes in Fund Net Position Internal Service Funds .................................................................................. 89 Combining Statement of Cash Flows Internal Service Funds ....................................................... 90 Combining Statement of Assets and Liabilities Agency Funds .................................................... 91 Combining Statement of Changes in Assets and Liabilities Agency Funds................................ 92
III. STATISTICAL SECTION Net Position by Activity Last Ten Fiscal Years....................................................................93 and 94 Changes in Net Position Last Ten Fiscal Years ..................................................................95 and 96 Fund Balances, Governmental Funds Last Ten Fiscal Years ............................................97 and 98

BIBB COUNTY SCHOOL DISTRICT
COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2018
TABLE OF CONTENTS
Page
III. STATISTICAL SECTION (CONTINUED) Changes in Fund Balances, Governmental Funds Last Ten Fiscal Years .....................99 and 100 Assessed Value and Actual Value of Taxable Property Last Ten Fiscal Years ...........101 and 102 Direct and Overlapping Property Tax Rates Last Ten Fiscal Years ..............................103 and 104 Principal Property Taxpayers Current Year and Nine Years Ago................................................ 105 Property Tax Levies and Collections Last Ten Fiscal Years........................................................ 106 Ratios of Outstanding Debt by Type Last Ten Fiscal Years ........................................................ 107 Ratios of General Bonded Debt Outstanding Last Ten Fiscal Years .......................................... 108 Legal Debt Margin Last Ten Fiscal Years.........................................................................109 and 110 Direct and Overlapping Governmental Activities Debt.................................................................... 111 Demographic and Economic Statistics Last Ten Fiscal Years .................................................... 112 Principal Employers Current Year and Nine Years Ago ............................................................... 113 Operating Statistics Last Ten Fiscal Years.................................................................................... 114 District Employees Last Ten Fiscal Years .......................................................................115 and 116 Teacher Salaries Last Ten Fiscal Years ......................................................................................... 117 Free and Reduced Price Lunch Eligibility Last Ten Fiscal Years................................................ 118 School Data Last Ten Fiscal Years ....................................................................................... 119 131
IV. SINGLE AUDIT SECTION Independent Auditor's Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards ...............................132 and 133 Independent Auditor's Report on Compliance for Each Major Program and on Internal Control Over Compliance Required by the Uniform Guidance .................... 134 136 Schedule of Expenditures of Federal Awards ........................................................................ 137 138 Notes to Schedule of Expenditures of Federal Awards................................................................... 139 Schedule of Findings and Questioned Costs ......................................................................... 140 143 Schedule of Prior Year Findings ........................................................................................................ 144 Management's Corrective Action Plan .............................................................................................. 145

I. INTRODUCTORY SECTION

STRENGTH OF CHARACJTanEuRaAryN2D8C, 2O0L1L9EGE OR CAREER READY
To the Honorable Members of the Board of Public Education for Bibb County and Citizens of Bibb County, Georgia:
As required by State law (O.C.G.A. 50-6-6), every general purpose local government must publish a complete set of audited financial statements at the close of each fiscal year. This report is published to fulfill that requirement for the fiscal year ended June 30, 2018.
Based upon a comprehensive framework of internal control that it has established for this purpose, management assumes full responsibility for the completeness and reliability of the information contained in this report. Because the cost of internal control 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.
Mauldin & Jenkins, Certified Public Accountants, LLC, has issued an unmodified ("clean") opinion on the Bibb County School District's financial statements for the year ended June 30, 2018. The independent auditor's report is located at the front of the financial section of this report. A single audit was also conducted to meet the requirements of Title 2 U.S. Code of Federal Regulations Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). The results of the Single Audit are presented in the last section of this report.
Management's discussion and analysis (MD&A) immediately follows the independent auditor's report and provides a narrative introduction, overview, and analysis of the basic financial statements. MD&A complements this letter of transmittal and should be read in conjunction with it.
PROFILE OF THE BIBB COUNTY SCHOOL DISTRICT
Bibb County, the 55th county formed in Georgia, was created in 1822 and built up to support Macon, a town which had sprung up across the Ocmulgee River from the frontier post known as Fort Hawkins. Houston, Jones, Monroe and Twiggs counties gave up territory to create Bibb, which takes its name from a distinguished Georgian, Dr. William Wyatt Bibb. He was Alabama's first elected Governor. Macon bears the name of a North Carolinian, Nathaniel Macon.
On July 31, 2012, the voters of Macon and Bibb County approved Georgia House Bill 1171, creating a consolidated Macon-Bibb County government with a nine-member commission led by an elected mayor who serves as the president of the Board of Commissioners. The new Macon-Bibb County government was sworn in on Tuesday, December 31, 2013 before a crowd of hundreds at City Hall, unifying the city and county 17 months after voters approved consolidation and nearly a century after the idea was first seriously proposed. The merger of the city and county became effective on January 1, 2014. The new governmental entity is called Macon-Bibb County. The Bibb County School District is a political subdivision of the State of Georgia, the boundaries of which are coextensive in the territorial limits of Macon-Bibb County. The District is separate from and legally and fiscally independent of the Board of Commissioners and all other political subdivisions in the state. The District is the only public school district in Macon-Bibb County and is vested, pursuant to constitutional authority, with the power to conduct a system of public education within its boundaries.
The Board of Public Education for Bibb County (Board) is the official governing body of the District and as such is responsible for the operation of all public schools within Macon-Bibb County. Annually, the Board elects a President, Vice-President, and Treasurer. The Superintendent also serves as an ex-officio Secretary of the Board. The Superintendent is appointed by the Board for a term that is determined by the Board. As its Chief Executive Officer, the Superintendent has general supervisory and administrative responsibility for all departments and personnel of the District. The Georgia Constitution provides that the management and control of the School District shall be under the Board of Education. The eight elected Board members have policy and decision-making authority.
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The school district's first locally approved charter school (Academy for Classical Education ACE) opened its doors on Monday, August 4, 2014 with 759 kindergarten through 8th grade students, with intentions of adding one additional
grade each year. As of June 30, 2018, ACE had 1,541 students in kindergarten through eleventh grade. The school
is located in North Bibb County in a partially renovated 200,000 square foot former corporate building sitting on 39
acres. According to the founders of ACE, former Bibb County School District Educators Laura Perkins and Esterine Stokes, an ACE classical education means extensive Latin study that starts in the 3rd grade and continues in every
subsequent grade. The mission of ACE is to build the foundation of knowledge and critical thinking skills necessary for
children to become independent learners for life.

The Bibb County School District embraces a long held tradition of excellence in education and is committed to providing achievement and performance for every school, for every classroom, and for every child. A pervasive belief within this system of schools is that each student, regardless of socio-economic status, race, neighborhood, or family structure, deserves an education that will establish a foundation for life-long success. The full-time student enrollment in October 2017 was 24,110, an increase of 122 over the prior year. Regardless of economic status, 100% of our students are eligible for meal service at no charge because of the Community Eligibility Provision, which is part of the Healthy, Hunger-Free Kids Act of 2010 of the National School Lunch Program (NSLP). The District employs approximately 3,359 employees, including over 1,600 teachers. It is the responsibility of each employee within the District, regardless of job title, to do his/her part to provide a thorough and efficient educational program for all students. Through collaborative efforts, District employees ensure that all pre-kindergarten through twelfth grade students attending Bibb County schools are provided a high quality education in a safe and comfortable environment and that human and technological resources are effectively utilized in preparing graduates for post-high school objectives. The Bibb County School District recognizes its obligation to the greater community to create an educational system that will encourage community growth and enhance the quality of life for all citizens.

The standard curricula provide a solid educational foundation for the students served in our twenty-two elementary, six middle, and six high schools. Included in these numbers are three elementary, one middle school, and five high school magnet programs as well as a college and career academy that provides CTAE courses aligned to post-secondary credentials. Students from throughout the District may apply to attend any of the magnet schools. Elementary magnet offerings include math and science, fine arts, and communicative arts.

Additionally, there are three specialty programs designed to serve specific student populations. Northwoods Academy serves regular pre-kindergarten students along with special needs students in collaborative environments. Elam Alexander Academy is a community-based delivery system that serves severely emotionally disturbed/behavioral disordered students and students with autism from Macon-Bibb County as well as six surrounding counties. The Bibb County Alternative School (currently known as SOAR Academy) provides a structured and positive learning environment in an alternative setting for students who have chronic aggressive behavior issues and have gone through the documented Response to Intervention (RTI) process without positive results.

Other highlights of the Bibb County School District include:



Gifted Programs



System-wide Special Education Instruction



Advanced Placement and Pre-Advanced Placement Programs



Technology/Career Education Programs



21st Century Classroom Technology



Instruction of English to Speakers of Other Languages



School House Health Services



Mentors and Tutoring Programs



Before and After-School Programs



Apprenticeship Programs



Athletics and Physical Education

The District is required to adopt an initial budget for the fiscal year no later than June 30th preceding the beginning of the fiscal year on July 1st. This annual budget serves as the foundation for the Bibb County School District's financial planning and control. Effective with the Fiscal Year 2017 budget, the budget is now adopted at the legal level of budgetary control which is the departmental level. The District converted to a new accounting software system (MUNIS) during the FY2016-2017 school year. Due to this conversion, the legal level is now at the departmental level instead of the previous budget center level. The Superintendent has broad discretion to delegate the authority to transfer operational appropriations within the departmental level as necessary to ensure the efficient operation of schools and departments within the District.

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LOCAL ECONOMY
One of Macon's key strengths is its strategic location in the heart of Georgia. At the crossroads of interstates 75 and 16, and just 75 minutes south of Atlanta, Macon has become an attractive location for businesses. A population of over 390,000 in a 30-mile radius; 4 major seaports within a 4-hour truck travel time; international airfreight facilities only 75 minutes away; 2 railroads and the largest rail switching center on the East coast make Macon an ideal location. A strategic location and small town attributes coupled with the amenities of a larger city, Macon is the place where people come from all over Middle Georgia to work; receive state of the art medical services; attend Medical, Engineering, and Law Schools; receive award winning information technology training; and enjoy a wide variety of retail, restaurants, and entertainment offerings.4
Macon-Bibb County is filled with cultural and entertainment opportunities. Macon-Bibb County is the home of over 10 museums, 5 tours, 7 annual festivals, and a multitude of events including the Macon Cherry Blossom Festival, Ocmulgee Indian Festival, Tubman Pan African Festival, Mid-Summer Macon, Arrowhead Indian Festival and many others. In addition to Capricorn Records, the list of musicians who have called Macon 'home' includes such notable performers as "Little Richard" Penniman, Otis Redding, the Allman Brothers Band, Robert McDuffie and Jason Aldean. In the Museum District you'll find Georgia's largest African American Museum; the Tubman African American Museum and the Georgia Sports Hall of Fame. The Museum of Arts & Sciences is an additional attraction offering visitors extraordinary exhibits and educational opportunities. Macon-Bibb County has two theater groups, the Macon Little Theatre and Theatre Macon. Three local colleges also offer regular season performances. The Macon Ballet and touring groups perform here regularly, with the Nutcracker of Middle Georgia each holiday season. The Macon Symphony Orchestra and the Macon Pops perform with local and national musicians. 4
The exceptional quality of higher education available in Macon-Bibb County is increasingly recognized as a valuable community asset. One of the most beneficial features of Macon-Bibb County's network of local universities, colleges, and technical schools is its visionary approach to developing specific employee training programs for individual industries and companies, including courses developed specifically for GEICO at Middle Georgia State University and Central Georgia Technical College to Mercer University's School of Engineering internship and co-op programs with area businesses. These alliances have fostered a positive and invaluable relationship between local businesses and educational institutions. 4
At approximately 250 square miles, Macon-Bibb County is the 119th largest of Georgia's 159 counties and ranks 15th in the state with a population total of 152,862. According to the Georgia Department of Labor, Macon-Bibb County had a 2017 civilian workforce of 69,653 2 with a 4.5% unemployment rate versus a 6.0% unemployment rate in 2016.2 A listing of the major employers of Macon-Bibb County, GA is provided in the schedules which follow:

Largest Private Employers4

Employers

# of Employees

GEICO
Coliseum Medical Centers
Mercer University Georgia Farm Bureau Federation
YKK (USA), Inc.

5,500 1,805 1,000
998 790

Largest Public Employers4

Employers

# of Employees

Navicent Health Medical Center Bibb County School District 3 Macon-Bibb Government

4,800 3,359 1,760

Middle Georgia State University

680

United States Postal Service

600

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On December 21, 2016 the Macon-Bibb County Industrial Authority (MBCIA) and the Macon Economic Development Commission (MEDC) announced that the two groups had signed an agreement to restructure the Economic Development Team for Macon-Bibb County, Georgia that was effective January 1, 2017. During that month, the two groups transitioned the MBCIA into the role as the single point of contact for industrial recruitment in Macon-Bibb County. In this new role, the MBCIA is responsible for marketing Macon-Bibb County to new businesses and industries, and is responsible for Authority Resource (land, incentives, etc.) involved in the recruitment process. The MEDC continues to focus on Talent Recruitment/Retention, Workforce Development, Exiting Industry/Retention and Growth, and Entrepreneurship/Small Business Development for Macon-Bibb. This new agreement strengthens Macon-Bibb's economic development team, a team that has been recognized for excellence across the state and the South, says MEDC Chair Starr Purdue. 4
Other Economic Development News:
In June 2017, Macon-Bibb's Tyson Foods Distribution Center announced plans to expand its current facility from about 182,000 square feet to 345,000 square feet and add over 100 jobs. This includes a $59 million investment and a 152,000 square foot addition to the existing facility.
In August 2017, Irving Consumer Products announced plans to locate a $400 million manufacturing plant in MaconBibb County, creating 200 jobs. The 135 year old Canadian based family business produces premium household store brand paper products for a variety of top retailers. The company plans to locate a state of the art 700,000 square foot facility in the Sofkee Industrial Park. 4
In October 2017, Governor Nathan Deal announced that Amazon, Inc. will create more than 500 full-time jobs at their new fulfillment center to be located in Macon-Bibb County. This will be the company's fourth fulfillment center in the state of Georgia. Amazon will lease one million square feet of industrial space in Macon for the facility. The newly created jobs will include warehouse, management, and supervisory positions. As a result, Amazon will invest $90 million in Macon-Bibb County. That includes $5.7 million for the site located on Skipper Road.
In December 2017, Atlanta-based Graphic Packaging Holding Company stated that it will invest $136 million in the modernization of its Macon mill helping retain more than 460 manufacturing jobs according to an announcement by the Georgia Department of Economic Development (GDEcD) and the Macon-Bibb County Industrial Authority. GDEcD stated Georgia successfully competed against other states to win this investment. Graphic Packaging's Macon Mill makes paperboard used in packaging for the food and beverage industry.
Robins Air Force Base: Robins Air Force Base in Warner Robins, Georgia is located approximately 16 miles south of Macon-Bibb County is the largest industrial complex in Georgia. According to the installation's latest economic impact statement, Robins contributed $2.87 billion to the Georgia economy in fiscal 2017. According to the fiscal 2017 statement, Robins had a total workforce of 22,257, which is made up of 13,686 appropriated fund civilians, 5,938 military members and 2,633 other employees. The report further states that Robins Air Force Base spent $1.38 billion in salaries. The largest portion of that payout money, $993.6 million, was paid to civilians working on the base, while military members accounted for $373.3 million, and non-federal civilians and contract employees accounted for just above $14.3 million. Additionally the base awarded $7.4 billion in contracts. On August 15, 2018, it was reported in the Macon Telegraph that Robins Air Force Base would fill 1200 new jobs by the end of 2019. This additional workforce will have an annual economic impact of $69 million and over $345 million over the next five years according to a statement from Robins Air Force Base. 5
1U.S. Census Bureau 2GA Department of Labor 3District Records 4Macon Economic Development Commission 5Economic Impact Statement Robins Air Force Base
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DISTRICT MAJOR INITIATIVES

Vision Statement Each student demonstrates strength of character and is college or career ready.
Mission Statement The Bibb County School District will develop a highly trained staff and an engaged community dedicated to educating each student for a 21st century global society.

Core Values



Competence



Loyalty



Open Communication



Defined Autonomy



Honor

Non-Negotiables



Positive Behavioral Interventions and Supports (PBIS)



Response to Intervention (RTI)



Formative Instructional Practices (FIP)



Teacher Key Effectiveness System (TKES) and Leader Keys Effectiveness System (LKES)

Strategic Plan The Bibb County Board of Education approved a comprehensive strategic plan, Victory In Our Schools, in October 2015. The strategic plan is guided by five areas of focus: Student Achievement, Student and Stakeholder Engagement, Leader & Teacher Effectiveness, Reliable Organization and Learning and Growth. Listed below are the key components of the Victory In Our Schools strategic plan:



Increase Content Mastery



Increase Post School Readiness



Increase Graduation Rate and Post-Secondary Options



Partner with Students



Partner with Parents



Partner with Community



Be a Professional Learning Community (PLC)



Know Technology



Do Standards-Based Classrooms



Manage Processes and Projects



Manage Finances and Personnel



Manage Perceptions



Maintain a Safe Learning and Working Environment



Recruit and Retain the Right People



Respect BCSD Value and Culture



Grow from Evaluations

AdvancED Accreditation The February 2018 final report from the District's October 2017 accreditation visit from AdvancED indicated that the Bibb County School District has successfully achieved accreditation for the next five years and exceeded expectations in several of the Resource Capacity standards. According to the official report, the District earned 342.79 out of a score of 100 to 400 points on its five-year review from AdvancEd. "That's an amazing score", said District Superintendent Dr. Curtis Jones, Jr. The report did not include any areas needing improvement.

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On November 8, 2015 Bibb County residents voted in favor of a referendum extending again the one-cent Special Purpose Local Option Sales Tax for capital improvements. The referendum approved a maximum collection of $185 million over the period covering January 1, 2016 December 31, 2020. Highlights of the projects include:
1 new elementary school Consolidation of Appling Middle School and Northeast High School to one shared campus Renovating, extending, repairing and equipping existing facilities Acquiring, improving and renovating various athletic facilities Constructing and equipping a replacement facility for campus police and transportation Controlled access entrances and updating security technology throughout the District Constructing, furnishing and equipping auditoriums Capital outlay projects for education purposes for use by approved charter school operators New technology, fine arts equipment, athletic equipment, safety and security systems throughout
the District New school buses, vehicles, maintenance, custodial and transportation equipment
LONG-TERM FINANCIAL PLANNING
The Finance Division provides Multi-Year General Fund Projections to the Board of Education annually during budget sessions. This document is continually adjusted as reasonable assumptions about future trends are replaced with more concrete information. Over the past three years, the percentage of General Fund Balance to General Fund Expenditures has been 13.5%, 16.9% and 16.0%.
FINANCIAL POLICIES AND LEGISLATION
Fund Balance Board policy establishes certain expectations related to fund balance. As of June 30, 2018, total fund balance in the General Fund was 13.0% of budgeted expenditures, well within the required minimum of 8%.
Internal Controls Management of the District is responsible for establishing and maintaining an internal control structure which is designed to ensure that the assets are protected from loss or theft and to ensure that adequate accounting data is compiled to allow for the preparation of financial statements in conformity with generally accepted accounting principles. The internal control structure is designed to provide reasonable, but not absolute assurance that these objectives are met. The concept of reasonable assurance recognizes that (1) the cost of a control should not exceed the benefit likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments by management.
As a recipient of federal, state, and local financial assistance, the District is also responsible for ensuring that an adequate internal control structure is in place to ensure and document compliance with applicable laws and regulations related to these programs. The internal control structure is subject to periodic evaluation by management.
Budgetary Controls The District maintains budgetary controls to ensure compliance with legal provisions embodied in the annual appropriated budget approved by the Board of Public Education for Bibb County. Activities of the general, capital projects, and special revenue funds are included in the annual appropriated budget. The level of budgetary control is established by program within an individual fund. As demonstrated by the statements and schedules included in the financial section of this report, the District continues to meet its responsibility for sound financial management.
The District is required to adopt a final budget no later than June 30th at the close of each fiscal year. An administrative budget review team aligns requests with priorities and proposed expenditures with anticipated revenues to arrive at a budget for consideration by the Superintendent and the Board of Education. In accordance with local board policy and state law, two public hearings are held to provide an opportunity for community response to the proposed budget.
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AWARDS AND ACKNOWLEDGEMENTS
Certificates of Achievement and Excellence The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the Bibb County School District for its comprehensive annual financial report for the fiscal year ended June 30, 2017. This was the nineteenth consecutive year the School District has achieved this prestigious award. The Certificate of Achievement is a prominent national award recognizing conformity with the highest standards for preparation of state and local governmental financial reports. In order to be awarded a Certificate of Achievement, a government unit must publish an easily readable and efficiently organized comprehensive annual financial report whose contents conform to program standards. The CAFR must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe that our current comprehensive annual financial report conforms to the Certificate of Achievement Program's requirements and we are submitting it to the GFOA to determine its eligibility for another certificate. We wish to express appreciation to Vicki Hulett, Executive Director of Accounting, Carol Tims, Financial Assistant to Chief Financial Officer and the entire Accounting Department Staff without whose dedicated and committed efforts this report could not have been completed. We also acknowledge the active participation and professional support of Mauldin & Jenkins. Audit Partner Miller Edwards and the staff of Mauldin & Jenkins, particularly Hope Pendergrass, have been instrumental to the completion of this comprehensive annual financial report. We also extend appreciation to the members of the Board of Public Education for Bibb County for their interest and support in planning and conducting the financial operations of the District in a responsible and progressive manner.
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STRENGTH OF CHARACTER AND COLLEGE OR CAREER READY
2018 Board Members
Front Row: Mrs. Susan K. Sipe, Lester M. Miller and Mrs. Ella M. Carter
Back Row: Dr. Thelma D. Dillard, Daryl J. Morton, Dr. Sundra M. Woodford, Robert M. Easter and Dr. Wanda S. West
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STRENGTH OF CHARACTER AND COLLEGE OR CAREER READY

Lester M. Miller President District 4

Dr. Thelma D. Dillard Vice-President District 2

Daryl J. Morton Treasurer At-large

Mrs. Ella M. Carter District 1
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STRENGTH OF CHARACTER AND COLLEGE OR CAREER READY

Mrs. Susan K. Sipe District 3

Dr. Sundra M. Woodford District 5

Robert M. Easter District 6

Dr. Wanda S. West At-Large
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(ADD BOARD SEAL)

BOARD OF PUBLIC EDUCATION FOBibRb CBoPuIrBnetpyBaSrecdChobOoyl:DUisNtriTctY
Finance Division

As of June 30, 2018, the members o4f8t4hMe BulobaerrdryaSntrdeeytear of expiration of their terms are as

follows:

Macon, Georgia 31201

Name

District

Years in Office

Expiration of Current Term

Lester M. Miller, President

District 4

5

Dr. Thelma D. Dillard, Vice President

District 2

5

Daryl J. Morton, Treasurer

At-large

3

Mrs. Susan K. Sipe

District 3

9

Robert M. Easter

District 6

1

Mrs. Ella M. Styles Carter

District 1

9

Dr. Sundra M. Woodford

District 5

1

Dr. Wanda S. West

At-large

7

December 31, 2020 December 31, 2020 December 31, 2018 December 31, 2020 December 31, 2020 December 31, 2020 December 31, 2020 December 31, 2018

Function and Composition
All matters relating to education and operations in the Bibb County School District (District) are governed and controlled by the Board of Public Education for Bibb County (Board) as provided by Georgia law. The Board is legally responsible for the operation of the District and all related policy.
It shall be the purpose of the Board to provide education of the best obtainable quality for the residents of Bibb County within the limitations imposed by the taxpayer's ability to pay and his/her willingness to support the educational program. The Board shall be the representative, not only of the citizens of Bibb County, but of the State Board of Education as well.
The Board currently consists of eight elected members, six elected from single member districts and two elected county-wide. Successors to the initial elected members of the Board are elected in the general election conducted immediately prior to the expiration of the term of office for which they offer as a candidate. The newly elected board members take office on the first day of January following their election and serve for a term of four years and until their successors are duly elected and qualified.
Regular board meetings are held on the third Thursday of each month at 6:30 p.m. usually in the Board Room at the Central Office, but sometimes at The Bibb County School District's Professional Learning Center. All meetings are open to the public. Special meetings may be called at other times by the Board President. At all meetings, a majority of the entire membership constitutes a quorum.

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STRENGTH OF CHARACTER AND COLLEGE OR CAREER READY
Curtis L. Jones Jr., Ed.D. Superintendent
The Bibb County School District welcomed Dr. Curtis L. Jones Jr. as Superintendent on April 6, 2015. Dr. Jones immediately began working on Bibb County School District's Strategic Plan, "Victory in Our Schools," with a focus on the Vision Each student demonstrates strength of character and is college or career ready. His Strategic Goals are Goal 1 Increase Student Achievement; Goal 2 Increase Student and Stakeholder Engagement; Goal 3 Increase Leader and Teacher Effectiveness; Goal 4 Be a Reliable Organization; and Goal 5 Learning and Growth. These goals will assist the district with its mission of developing a highly trained staff and an engaged community dedicated to educating each student for a 21st century global society. During his 20+ year career in education, Dr. Jones has been a JROTC Instructor, high school principal, and assistant superintendent. Before becoming an educator, he served in the United States Army from 1977-1997, retiring as a Lieutenant Colonel. Dr. Jones is a 1977 graduate of United States Military Academy at West Point. Dr. Jones has received numerous accolades and awards during his tenure in education. He currently serves as a governing board member for the American Association for School Administrators (AASA) and Past President for the Georgia School Superintendents Association (GSSA). He received the Bill Barr Leadership Award from GSSA in 2016 the President's Award in 2012. He is married to Evelyn, an elementary school principal. They have three children and are the proud grandparents of two granddaughters.
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STRENGSTtHreOngFthCoHfACRhAaCraTcEteRr aAnNdDCColOleLgLeEoGr ECaOrReeCr ARReaEdEyR READY

ADMINISTRATIVE STAFF as of December 2018

Superintendent's Senior Cabinet
Curtis L Jones Jr., Ed.D. Keith Simmons Jamie Cassady Ron Collier Randy Howard Paige Busbee Tanzy Kilcrease Lori Rodgers Stephanie Hartley

Superintendent Chief of Staff School Operations Assistant Superintendent Student Affairs Chief Financial Officer Chief Legal Counsel Assistant Superintendent Human Resources Assistant Superintendent Teaching and Learning Assistant Superintendent District Effectiveness/Federal Programs Director of Communications Community & School Affairs

Instructional Services
Lindsey Allen Donna Jackson Floyd Jolley Jennifer Mellor Cassandra Washington Barney Hester Ben Bridges Bertha Caldwell April Harriger Tony Jones Michelle Lenderman Monica Radcliff Janice Flowers

Executive Officer of Secondary Education Executive Officer of Elementary Schools Executive Director of Teaching and Learning Executive Director of Program for Exceptional Children Executive Director of Career, Technical and Agricultural Education Director of Athletics, Health & Physical Education Director of Fine Arts & Magnet Programs Director of Professional Learning Director of Northwoods Academy Director of Research, Assessment and Accountability Director of Media Services Director of Instructional Technology Interim Director of Before and After School Programs

Central Services/Operations
Ed Aaron Jason Daniel Vicki Hulett Rose Powell Timikel Sharpe Myra Abrams Russell Bentley David Gowan Anthony Jackson Eddie Montgomery Beverly Stewart Elaine Wilson

Executive Director of Personnel Executive Director of Capital Projects Executive Director of Accounting Executive Director of Technology Services Executive Director of School Nutrition Director of Human Resources, School Nutrition Department Chief of Campus Police Director of Safety/Risk Management Director of Transportation Director of Maintenance Director of Student Support Services Director of Procurement

xiv
xiv

BCSD Organizational Chart SY 2018

xv

Board of Education

Superintendent

Executiv e Assistant

Board Clerk

Asst. Supt. Human
Resources

Asst. Supt. Student Affairs

Asst. Supt. Teaching & Learning

Chief of Staff

Chief Financial Officer

Asst. Supt. District
Effectiv eness

Chief Legal Counsel

Director of Communications & School Affairs

Benefits

Counselors

Curriculum

Transportation

Accounting

Federal & State Programs

Tribunals

Web Services

Certification

Psychologists

Instruction

School Nutrition

Payroll

Homeless Serv ices

Legal Serv ices

Internal Communications

Compensation

Social Workers

Pre-K

Technology/ REAA

Grants

Family Engagement

External Communications

Personnel

Truancy Serv ices

Academic Interv entions

Maintenance

Inv entory

School Improv ement

Community Partnerships

Worker's Compensation

GNETS

Professional Learning

Capital Improv ements

Budget

Before & After School Programs

Talent Management

Behav ior Specialists

Gifted/Adv anced Academics

Safety & Risk Management

Procurement

CTAE

PEC

Response to Interv entions

Athletics, Health & PE

Migrant

PBIS

ESOL

Campus Police

Nurses

Fine Arts/Magnet Programs

Custodial Operations

Alternativ e Education

Northwoods

Principal Superv isors

II. FINANCIAL SECTION

bibb county school district
independent audit report

INDEPENDENT AUDITOR'S REPORT
To the Members of the Board of Education of the Bibb County School District
Macon, Georgia
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the Bibb County School District as of and for the year ended June 30, 2018, and the related notes to the financial statements, which collectively comprise the Bibb County School District's basic financial statements as listed in the table of contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes 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.
Auditor's Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements 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 entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting principles used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
300 MULBERRY STREET, SUITE 300 POST OFFICE BOX 1877 MACON, GEORGIA 31202-1877 478-464-8000 FAX 478-464-8051 www.mjcpa.com MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS

Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the Bibb County School District as of June 30, 2018, and the respective changes in financial position and, where applicable, cash flows, thereof, 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.
Emphasis of Matter
As discussed in Note 13, the Bibb County School District implemented Governmental Accounting Standards Board (GASB) Statement No. 75, Accounting and Financial Reporting for Post-employment Benefits Other Than Pensions, as of July 1, 2017. This standard significantly changed the accounting for the Bibb County School District's net other post-employment benefits (OPEB) liability and the related disclosures. Our opinions are not modified with respect to this matter.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Management's Discussion and Analysis (on pages 4 through 11), the schedules of proportionate share of the net pension liability, the schedules of pension contributions, the schedules of proportionate share of the net OPEB liability, and the schedules of OPEB contributions (on pages 69 through 79) be presented to supplement the basic financial statements. Such information, 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 auditing standards generally accepted in the United States of America, 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.
2

Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Bibb County School District's basic financial statements. The combining and individual nonmajor fund financial statements and schedules; schedule of expenditures of federal awards, as required by Title 2 U.S. Code of Federal Regulations (CFR) Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards; and the schedule of expenditures of special purpose local option sales tax proceeds, as required by the Official Code of Georgia 48-8-121, as listed in the table of contents, are presented for purposes of additional analysis and are not a required part of the basic financial statements. The introductory and statistical sections are also presented for purposes of additional analysis and are not a required part of the basic financial statements.
The combining and individual nonmajor fund financial statements and schedules, schedule of expenditures of federal awards, and schedule of expenditures of special purpose local option sales tax proceeds (collectively the "supplementary information") are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such 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 supplementary information is fairly stated, in all material respects, in relation to the basic financial statements as a whole.
The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on them.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated January 28, 2019, on our consideration of the Bibb County School District'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 solely is 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 Bibb County School District'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 Bibb County School District's internal control over financial reporting and compliance.
Macon, Georgia January 28, 2019
3

bibb county school district
management discussion and analysis

MANAGEMENT'S DISCUSSION AND ANALYSIS
As administration of the Bibb County School District, we offer readers of the Bibb County School District's financial statements this narrative overview and analysis of the financial activities of the District for the fiscal year ended June 30, 2018. We encourage readers to consider the information presented here in conjunction with additional information that we have furnished in our letter of transmittal, which can be found on pages i-vii of this report.
FINANCIAL HIGHLIGHTS
Key financial highlights for FY2018 are as follows:
The assets and deferred outflows of the Bibb County School District exceeded its liabilities and deferred inflows at the close of the most recent fiscal year by $152,708,024. This amount includes the negative unrestricted net position of $334,005,828 which is primarily composed of the District's proportionate share of net pension liability related to the implementation of GASB Statement No.68 Accounting and Financial Reporting for Pensions and our proportionate share of net other postemployment benefit liability related to the implementation of GASB Statement No.75 Accounting and Financial Reporting for Post-Employment Benefits other than Pensions.
The Bibb County School District's total net position decreased $183,917,799. This decrease is primarily due to the implementation of GASB Statement No.75 Accounting and Financial Reporting for Post-Employment Benefits other than Pensions.
At the close of the current fiscal year, the Bibb County School District's governmental funds reported combined fund balances of $67,805,157, an increase of $5,862,147 in comparison with the prior year. Approximately 41.8% of this amount ($28,347,669) is available for spending at the government's discretion.
At the end of the current fiscal year, unrestricted fund balance for the General Fund was $32,070,701 or approximately 12.9% of total General Fund expenditures.
The Bibb County School District's total long-term outstanding debt increased $165,613,488. This increase is due to the increase in pension liability combined with the implementation of GASB Statement No.75 Accounting and Financial Reporting for Post-Employment Benefits other than Pensions.
OVERVIEW OF THE FINANCIAL STATEMENTS
The discussion and analysis provided here is intended to serve as an introduction to the Bibb County School District's basic financial statements. The Bibb County School District's basic financial statements consist of three components: 1) government-wide financial statements; 2) fund financial statements; and 3) the notes to financial statements. This report also includes supplementary information intended to furnish additional detail to support the basic financial statements themselves.
Government-wide Financial Statements. The government-wide financial statements are designed to provide readers with a broad overview of the Bibb County School District's finances in a manner similar to private-sector business.
The statement of net position presents financial information on all of the Bibb County School District's assets, liabilities, and deferred inflows/outflows of resources, with the difference 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 Bibb County School District is improving or deteriorating.
The statement of activities presents information showing how the Bibb County School District's net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g., uncollected taxes and earned but unused compensated absences).
4

BIBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
June 30, 2018
Both of the government-wide financial statements distinguish functions of the Bibb County School District that are principally supported by property taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The governmental activities of the Bibb County School District include instruction, general administration, maintenance and operations, student transportation, and interest on long-term debt. The business-type activities of the Bibb County School District include school food services, stadiums, Hutchings Academy and the wellness center.
The government-wide financial statements can be found on pages 12 -14 of this report.
Fund Financial Statements. A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The Bibb County School District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with financerelated legal requirements. All of the funds of the Bibb County School District can be divided into three categories: governmental funds, proprietary funds, and fiduciary funds.
Governmental Funds. Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in assessing a government's near-term financing requirements.
Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the government's near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.
The Bibb County School District maintains four individual governmental funds. Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balances for the General Fund and the SPLOST Projects Fund, which are considered to be major funds. Data from the other two governmental funds are combined into a single aggregated presentation. Individual fund data for each of these non-major governmental funds is provided in the form of combining statements in the combining and individual fund statements and schedules section of this report.
The Bibb County School District adopts an annual appropriated budget for its General Fund. A budgetary comparison statement has been provided for the General Fund to demonstrate compliance with this budget.
The basic governmental fund financial statements can be found on pages 12 24 of this report.
Proprietary Funds. The Bibb County School District maintains two different types of proprietary funds. Enterprise funds are used to report the same functions presented as business-type activities in the government-wide financial statements. Enterprise funds may be used to account for any activity or service that charges a fee to external users to cover the cost of operations, including cost of depreciation and debt service. The District operates its food service, stadiums, Hutchings Academy and district-wide wellness center as enterprise funds. Internal Service funds account for goods and services that are provided to other funds in return for a fee to cover the cost of operations, including depreciation and debt service costs. The District's internal service funds include workers' compensation and unemployment compensation. Proprietary fund statements use the accrual basis of accounting similar to the district-wide statements.
The basic proprietary fund financial statements can be found on pages 19 22 of this report.
Fiduciary Funds. The District is the trustee, or fiduciary, for assets that belong to others, such as the dependent care spending account fund, the medical spending account fund and school clubs and organizations within the principals' accounts. The District is responsible for ensuring that the assets reported in these funds are used only for intended purposes and by those to whom the assets belong. The District excludes these activities from the district-wide financial statements because it cannot use the assets to finance its operations.
The fiduciary fund financial statements can be found on pages 23 and 24 of this report.
5

BIBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
June 30, 2018

Notes to the Financial Statements. The notes provide additional information that is necessary to acquire a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found on pages 25 68 of this report.
GOVERNMENT-WIDE OVERALL FINANCIAL ANALYSIS
As noted earlier, net position over time, may serve as a useful indicator of a government's financial position. In the case of the Bibb County School District, assets and deferred outflows exceeded liabilities and deferred inflows by $152,708,024 at the close of the most recent fiscal year.

BIBB COUNTY SCHOOL DISTRICT'S NET POSITION For the Fiscal Years Ended June 30, 2018 and June 30, 2017
(in thousands)

Assets: Current and other assets Capital assets
Total assets

Governmental Activities

FY2018

FY2017

Business-type Activities

FY2018

FY2017

Total Combined Activities

FY2018

FY2017

Total Change

$

%

$

113,184 $ 96,644 $ 12,629 $ 14,403 $ 125,813 $ 111,047 $ 14,766

13.3%

447,999

439,405

8,283

7,341

456,282

446,746

9,536

2.1%

561,183

536,049

20,912

21,744

582,095

557,793

24,302

4.4%

Deferred Outflows: Pensions Other post-employment benefits Total deferred inflows

31,761 14,675 46,436

52,905 -
52,905

509 1,306 1,815

777

32,270

53,682

(21,412) -39.9%

-

15,981

-

15,981

-

777

48,251

53,682

(5,431) -10.1%

Liabilities: Long-term liabilities outstanding Net pension liability Other post-employment benefits Other liabilities
Total liabilities

5,212 188,413 179,182
36,791 409,598

6,006 216,855
27,489 250,350

3,022 15,944 1,201 20,167

3,181
850 4,031

5,212 191,435 195,126
37,992 429,765

6,006 220,036
28,339 254,381

(794) (28,601) 195,126
9,653 175,384

-13.2% -13.0%
34.1% 68.9%

Deferred Inflows: Pensions Other post-employment benefits Total deferred inflows

20,194 25,121 45,315

20,171 -
20,171

323 2,235 2,558

296

20,517

20,467

50

0.2%

-

27,356

-

27,356

-

296

47,873

20,467

27,406 133.9%

Net position:

Net investment in capital assets

Restricted for capital projects

Unrestricted

Total net position

$

445,487 32,944
(325,725) 152,706 $

436,390 27,529
(145,486) 318,433 $

8,283 -
(8,281) 2 $

7,341 -
10,852 18,193 $

453,770 32,944
(334,006) 152,708 $

443,731 27,529
(134,634) 336,626 $

10,039 5,415
(199,372) (183,918)

2.3% 19.7% 148.1% -54.6%

The Bibb County School District's overall net position decreased $183,917,799 or 54.6% from the prior fiscal year. This decrease is primarily due to the implementation of GASB Statement No.75.
By far, the largest portion of the Bibb County School District's net position ($453,769,875) reflects its investment in capital assets (e.g., land and land improvements, buildings, equipment, and construction in progress), less any related outstanding debt that was used to acquire those assets. The Bibb County School District uses these capital assets to provide a variety of services to its citizens. Accordingly, these assets are not available for future spending. Although the Bibb County School District's investment in capital assets is reported net of related debt, it should be noted that the resources used to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.

6

BIBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
June 30, 2018

As a result of the implementation of GASB Statement No.68 in FY2015 and GASB Statement No.75 in FY2018, the District's net position has been significantly negatively impacted by the inclusion of net pension liability of $191.4 million and Other Post-Employment Benefits liability of $195.1 million at June 30, 2018. An additional portion of the Bibb County School District's net position ($32.9 million) represents resources that are subject to external restrictions on how they may be used.
Governmental Activities. The Bibb County School District Governmental Activities overall net position decreased from $318,432,852 to $152,706,110. This $165,726,742 or 52.0% decrease is primarily due to the implementation of GASB Statement No.75 Accounting and Financial Reporting for Post-Employment Benefits other than Pensions.

BIBB COUNTY SCHOOL DISTRICT'S CHANGES IN NET POSITION For the Fiscal Years Ended June 30, 2018 and June 30, 2017
(in thousands)

Governmental Activities

Business-type Activities

Total Combined Activities

FY2018

FY2017

FY2018 FY2017

FY2018

FY2017

Revenues:

Program revenues:

Charges for services

$ 4,605 $ 5,273 $

845 $

886 $ 5,450 $ 6,159 $

Operating grants and contributions

153,749

150,667

16,600

16,960

170,349

167,627

Capital grants and contributions

1,214

217

-

-

1,214

217

Total Change

$

%

(709) 2,722
997

-11.5% 1.6%
100.0%

Total program revenues

159,568

156,157

17,445

17,846

177,013

174,003

3,010

1.7%

General revenues:
Property taxes Sales taxes Other taxes Grants and contributions not
restricted to specific programs Gain on the sale of assets Unrestricted investment earnings Total general revenues Total revenues

83,045 31,468
1,062
7,881 949
124,405 283,973

82,307 29,263
1,397
1,696 315
114,978 271,135

-
6
139 145 17,590

-
3
60 63 17,909

83,045 31,468
1,062
7,881 6
1,088 124,550 301,563

82,307 29,263
1,397
1,696 3
375 115,041 289,044

738 2,205
(335)

0.9% 7.5% -24.0%

6,185 3
713 9,509 12,519

364.7% 100.0% 190.1%
8.3% 4.3%

Expenses:
Instruction General administration Maintenance and operations Student transportation Interest on long-term debt School nutrition services Stadiums Wellness center Hutchings Academy Total expenses

222,758 7,573
19,637 12,851
84 262,903

216,652 6,460
19,015 11,004
96 253,227

19,149 225 25 33 19,432

17,831 267 218
7 18,323

222,758 7,573
19,637 12,851
84 19,149
225 25 33
282,335

216,652 6,460
19,015 11,004
96 17,831
267 218
7 271,550

6,106 1,113
622 1,847
(12) 1,318
(42) (193)
26 10,785

2.8% 17.2%
3.3% 16.8% -12.5%
7.4% -15.7% -88.5%
4.0%

Increase (decrease) in net
position before transfers Transfers Increase (decrease) in net position

21,070 (250)
20,820

17,908 (250)
17,658

(1,842) 250
(1,592)

(414) 250 (164)

19,228 -
19,228

17,494 -
17,494

1,734 -
1,734

9.9% 0.0% 9.9%

Net position - beginning Net position - ending

131,886

300,775

1,594

18,357

133,480

319,132

(185,652) -58.2%

$ 152,706 $ 318,433 $

2 $ 18,193 $ 152,708 $ 336,626 $ (183,918) -54.6%

7

BIBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
June 30, 2018
Business-type Activities. For the Bibb County School District's business-type activities, overall net position decreased from $18,192,971 to $1,914 in the current fiscal year. The decrease in net position for business-type activities (food services, stadiums, Hutchings Academy and wellness center operations) of $18,191,057 from the prior fiscal year and is primarily due to the implementation of GASB Statement No.75 Accounting and Financial Reporting for Post-Employment Benefits other than Pensions.
FINANCIAL ANALYSIS of GOVERNMENTAL FUNDS
Governmental Funds. The focus of the Bibb County School District's governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the Bibb County School District's financing requirements. In particular, unassigned fund balance may serve as a useful measure of a government's net resources available for discretionary use as they represent the portion of fund balance which has not yet been limited to use for a particular purpose by either an external party, the Bibb County School District itself, or a group or individual that has been delegated authority to assign resources for use for particular purposes by the Bibb County School District's governing Board of Education. As noted earlier, the Bibb County School District uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. The District has two major governmental funds: The General Fund and the SPLOST Projects Fund. The General Fund is the District's primary operating fund and is used to account for all financial resources of the general government except those required to be accounted for in another fund. The SPLOST Projects Fund is used to account for the proceeds of a one percent Special Purpose Local Option Sales Tax used to finance building renovations, land and building acquisitions, and the construction of new educational and administrative facilities.
On June 30, 2018, the Bibb County School District's governmental funds reported combined fund balances of $67,805,157, an increase of $5,862,147 in comparison with the prior year. Approximately 41.8% of this amount ($28,347,669) constitutes unassigned fund balance, which is available for spending at the government's discretion. The remainder of the fund balance is either non-spendable, restricted, committed, or assigned to indicate that it is 1) not in spendable form ($222,902), 2) restricted for particular purposes ($32,943,977), 3) committed for particular purposes ($2,567,577), or 4) assigned for particular purposes ($3,732,032).
General Fund. The General Fund is the chief operating fund of the Bibb County School District. At the end of the current fiscal year, unassigned fund balance of the General Fund was $28,347,669 while total fund balance decreased to $32,293,603. As a measure of the General Fund's liquidity, it may be useful to compare both unassigned fund balance and total fund balance to total General Fund expenditures. Unassigned fund balance represents approximately 11.4% of total General Fund expenditures while total fund balance represents approximately 13.0% of that same amount.
The net change in the General Fund's total fund balance was a decrease of $21,736 from the prior fiscal year. Total operating revenues exceeded expenditures by $228,264. Transfers to other funds totaled $250,000; primarily used for stadium expenditures.
SPLOST (Special Purpose Local Option Sales Tax) Projects Fund. As of June 30, 2018, the SPLOST Projects Fund, a major fund, had an ending fund balance of $32,943,977, an increase of $5,415,133 from the prior year. The increase in fund balance was due to SPLOST receipts exceeding capital project expenditures.
Proprietary Funds. The Bibb County School District's proprietary funds provide the same type of information found in the government-wide financial statements, but in more detail. The unrestricted net position of School Food Service at the end of the year was a negative ($8,013,719) and net investment of capital assets was $8,268,124 for a total net position of $254,405, a decrease of $18,150,944 from the prior year. The decrease is primarily due to the implementation of GASB No.75 Accounting and Financial Reporting for Post-Employment Benefits other than Pensions.
8

BIBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
June 30, 2018
GENERAL FUND BUDGETARY HIGHLIGHTS
Original budget compared to final budget. Historically each year the District has to amend the General Fund original estimated revenues or original budgeted appropriations as well as the original budgeted expenditures as federal grant notifications are received after the completion of the original budget.
Final budget compared to actual results. The most significant differences between estimated revenues and actual revenues were as follows:

Revenue Source
Local sources State sources Federal sources

Estimated Revenues
$ 84,216,000 130,652,742 37,222,233

Actual Revenues
$ 87,779,137 133,181,720 27,076,728

$ Difference
$ 3,563,137 2,528,978
(10,145,505)

% Difference
4.1% 1.9% -37.5%

The increase in local revenue is due to property and other tax revenue increases. Tax collections including property, tag/title, real estate transfer, intangible, and pilot taxes were up over $3.6 million. The $3.6 million increase in local revenue is due to local property tax receipts and legal settlements. The district received $1.7 million more in property taxes than budgeted. The district also received over $1.5 million in e-rate funds from Cox Enterprises, Inc. related to FY2015 expenses. Finally, the district received over $750,000 in legal settlements from Progressive Consulting Technologies, Inc. and Comp Tech. The increase in state revenues is primarily due to an increase in State QBE Funds combined with increases in other state grants. The shortfall in the above federal revenue sources were caused primarily by federal grants. Federal grants are budgeted per the award amount plus any amount which is available for carryover from the previous year. Various federal grants also are fifteen month grants which means they run longer than the twelve month fiscal year. These grants are budgeted at the full award because there is no way to make an estimate of any monies which may carryover. Actual revenues are recorded for these grants as the revenue becomes available or as the expenditures are incurred. Therefore, the actual revenues extend over multiple fiscal years.
A review of actual expenditures compared to the appropriations in the final budget yields several significant variances.

Expenditure
Instruction General administration Maintenance & operations

Estimated Expenditures
$ 214,420,658 9,509,052
20,339,790

Actual Expenditures
$ 212,187,166 7,065,522
18,333,312

$ Difference
$ (2,233,492) (2,443,530 (2,006,478)

% Difference
-1.1% -34.6% -10.9%

The instruction shortfall of $2.2 million in the above expenditure projections were caused primarily by federal and state grants, which extend over multiple fiscal years, being budgeted in their entirety in the first fiscal year that funds become awarded. Actual expenditures are recorded for these grants as the expenditures are incurred. Therefore, the actual expenditures extend over multiple fiscal years as well. The general administration results are primarily from staffing vacancies. The shortfall in the maintenance and operations expenditure projections were caused by efficiency of newer building construction and the implementation of energy conservation measures.

9

BIBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
June 30, 2018

CAPITAL ASSETS AND DEBT ADMINISTRATION
Capital assets. The Bibb County School District's investment in capital assets for its governmental and businesstype activities as of June 30, 2018, amounts to $456,282,113 (net of accumulated depreciation). This investment in capital assets includes land and land improvements, buildings, equipment, and construction in progress. The total increase in capital assets for the current fiscal year was approximately 2.1%.

BIBB COUNTY SCHOOL DISTRICT'S CAPITAL ASSETS (Net of Accumulated Depreciation)
For the Fiscal Years Ended June 30, 2018 and June 30, 2017 (in thousands)

Governmental Activities

Business-type Activities

Total Combined Activities

Total Change

Land Construction in
progress Buildings Equipment Land improvements

FY2018

FY2017 FY2018 FY2017 FY2018

FY2017

$ 13,690 $ 13,690 $ - $ - $ 13,690 $ 13,690 $

12,552 390,704
25,299 5,754

2,480 393,619
24,003 5,612

100 5,184 2,999
-

5,318 2,023
-

12,652 395,888
28,298 5,754

2,480 398,937
26,026 5,612

$

%

-

0.0%

10,172 (3,049) 2,272
142

410.2% -0.8% 8.7% 2.5%

Total Capital Assets $ 447,999 $ 439,404 $ 8,283 $ 7,341 $ 456,282 $ 446,745 $ 9,537 2.1%

Major capital asset events (in millions) during the current fiscal year included the following:

Decrease in buildings for renovations and construction Increase in construction in progress on SPLOST Projects Increase in capital equipment

$ (3.0) 10.2 2.3

Net changes in Capital Assets

$ 9.5

Additional information on the Bibb County School District's capital assets can be found in Note #7 on pages 41 and 42 of this report.

Long-term Debt. At the end of the current fiscal year, the Bibb County School District had total long-term debt outstanding of $390,687,967 which is comprised of note payable, net pension liability, net other post-employment benefits liability, and compensated absences.

10

BIBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
June 30, 2018

BIBB COUNTY SCHOOL DISTRICT'S OUTSTANDING DEBT For the Fiscal Years Ended June 30, 2018 and June 30, 2017

Note Payable Net Pension Liability Net OPEB Liability Compensated Absences
Totals

Combined Governmental and Business Type Activities

Total Change

FY2018

FY2017

$

%

$ 2,512,238 $ 3,014,474 $

(502,236)

191,435,058

220,036,251

(28,601,193)

195,125,560

210,386,999

(15,261,439)

1,615,111

1,462,521

152,590

$ 390,687,967 $ 434,900,245 $ (44,212,278)

-16.7% -13.0%
-7.3% 10.4%
-10.2%

During the current fiscal year, the Bibb County School District's total debt decreased by $44,212,278 or 10.2% primarily as a result of the decrease in the net pension liability and net Other Post-Employment liability.
The Bibb County School District maintains an "Aa2" rating from Moody's Investors Service for general obligation debt. State statutes limit the amount of general obligation debt a governmental entity may issue up to 10% of the average full valuation. Currently the Bibb County District does not have any bonded debt. So based on the debt limitation, the amount available is $401,307,932.
Additional information on the Bibb County School District's long-term debt can be found in Note #9 on pages 43 45 of this report.
Economic Factors and Next Year's Budgets and Tax Rates. The following economic factors currently affect the Bibb County School District and were considered in developing the FY2019 fiscal year budget.
In June 2018, the Board adopted the FY2019 General Fund operating budget which includes $214.3 million in operating revenues and transfers in and $218.0 million in operating expenditures and transfers out.
On the expenditure side, continued increases are expected in health insurance premiums, pension, and other employee benefit costs. For FY2019, the Teacher Retirement System (TRS) increased its employer contribution from 16.81% to 20.9%, representing an overall 24.3% increase in pension costs.
For FY2019, the Board of Education adopted a 0.5 mill tax rate decrease from 19.814 to 19.314 mills to provide some relief to local taxpayers. It is anticipated that this tax rate decrease will yield $2 million less in property tax revenue.
For the first time since FY2003, the Governor of Georgia and the Georgia State Legislature eliminated all austerity reduction for FY2019, thus fully funding the state's QBE funding formula.
As the District anticipates the opening of more charter schools and decreased student enrollment, plans are underway to consolidate two elementary schools which will reduce the total number from 22 to 21.
Requests for Information. This financial report is designed to provide a general overview of the Bibb County School District's finances for all those with an interest in the district's financial status. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to the Bibb County School District, Office of the CFO, 484 Mulberry Street, Suite 400, Macon, GA, 31201.

11

bibb county school district
basic financial statements

bibb county school district
government-wide financial statements

BIBB COUNTY SCHOOL DISTRICT
STATEMENT OF NET POSITION JUNE 30, 2018

ASSETS
Cash Investments Receivables:
Accounts Intergovernmental Internal balances Inventories Prepaid and other assets Capital assets, non-depreciable Capital assets, depreciable (net of accumulated depreciation)
Total assets
DEFERRED OUTFLOWS OF RESOURCES
Pensions Other post-employment benefits
Total deferred outflows of resources
LIABILITIES
Accounts payable Retainage payable Intergovernmental accounts payable Accrued interest payable Accrued payroll and payroll withholdings Unearned revenue Accrued claims, due within one year Accrued claims, due in more than one year Notes payable due within one year Notes payable due in more than one year Compensated absences due within one year Compensated absences due in more than one year General obligation bonds due within one year, net of
unamortized discount Net pension liability Net other post-employment benefit liability
Total liabilities
DEFERRED INFLOWS OF RESOURCES
Pensions Other post-employment benefits
Total deferred inflows of resources
NET POSITION (DEFICIT)
Net investment in capital assets Restricted for capital projects Unrestricted
Total net position (deficit)

Primary Government

Governmental Activities

Business-type Activities

Total

Component Unit
Academy for Classical Education

$

13,122,885 $

65,760,010

1,397,563 32,202,788
477,681 -
222,902 26,242,171

421,757,120

561,183,120

2,191,371 $ 9,917,763
41,489 369,958 (477,681) 584,458
1,982 99,585
8,183,237
20,912,162

15,314,256 $ 75,677,773
1,439,052 32,572,746
584,458 224,884 26,341,756
429,940,357
582,095,282

826,445 2,695,934
424,018
29,255,289
33,201,686

31,761,338 14,674,970
46,436,308

509,253 1,305,774
1,815,027

32,270,591 15,980,744
48,251,335

4,360,818 1,579,630
5,940,448

10,736,373 923,478 119,668 -
24,960,759 50,824
600,271 484,432 532,391 1,979,847 1,325,410 289,701
188,413,081 179,182,006
409,598,241

275,418 99,585 -
810,863 15,577 -
3,021,977 15,943,554
20,166,974

11,011,791 1,023,063 119,668 -
25,771,622 66,401
600,271 484,432 532,391 1,979,847 1,325,410 289,701
191,435,058 195,125,560
429,765,215

182,108 -
27,760 1,227,779
-
34,911,547 6,342,754 7,517,712
50,209,660

20,194,104 25,120,973
45,315,077

323,046 2,235,255
2,558,301

20,517,150 27,356,228
47,873,378

66,860 572,455
639,315

445,487,053 32,943,977
(325,724,920)
$ 152,706,110 $

8,282,822 -
(8,280,908)

453,769,875 32,943,977
(334,005,828)

1,914 $ 152,708,024 $

(2,536,306) -
(9,170,535)
(11,706,841)

The accompanying notes are an integral part of these financial statements.

12

BIBB COUNTY SCHOOL DISTRICT
STATEMENT OF ACTIVITIES FOR THE FISCAL YEAR ENDED JUNE 30, 2018
Program Revenues

Functions/Programs Governmental activities:
Instruction General administration Maintenance and operations Student transportation Interest on long-term debt
Total governmental activities

Expenses
$ 222,758,006 7,572,905
19,637,436 12,850,636
83,679 262,902,662

Charges for Services

$

4,604,926

-

-

-

-

4,604,926

Operating Grants and Contributions
$ 140,353,877 4,746,736 6,020,520 2,627,814 -
153,748,947

Business-type activities: School food services Stadiums Wellness center Hutchings Academy Total business-type activities Total primary government

19,148,812

774,008

16,600,007

225,676

-

-

25,171

31,929

-

32,959

39,340

-

19,432,618

845,277

16,600,007

$ 282,335,280

$

5,450,203

$ 170,348,954

Component unit: Academy for Classical Education Total component unit

$ 14,736,893

$

$ 14,736,893

$

387,499

$

1,105,693

387,499

$

1,105,693

General revenues: Property taxes Sales taxes Other taxes Grants and contributions not restricted to specific programs Unrestricted investment earnings Gain on sale of assets
Transfers Total general revenues and transfers Change in net position
Net position, beginning of year, as restated Net position, end of year
The accompanying notes are an integral part of these financial statements.

Capital Grants and Contributions

$

1,136,283

-

-

77,320

-

1,213,603

-

-

-

-

-

$

1,213,603

$

-

$

-

13

Net (Expenses) Revenues and Changes in Net Position

Governmental Activities

Business-type Activities

Total

Component Unit
Academy for Classical Education

$ (76,662,920) $

-

$ (76,662,920) $

-

(2,826,169)

-

(2,826,169)

-

(13,616,916)

-

(13,616,916)

-

(10,145,502)

-

(10,145,502)

-

(83,679)

-

(83,679)

-

(103,335,186)

-

(103,335,186)

-

(1,774,797)

(1,774,797)

-

-

(225,676)

(225,676)

-

-

6,758

6,758

-

-

6,381

6,381

-

-

(1,987,334)

(1,987,334)

-

(103,335,186)

(1,987,334)

(105,322,520)

-

-

-

-

(13,243,701)

-

-

-

(13,243,701)

83,045,079 31,467,695
1,061,942 7,881,481
949,070 -
(250,000) 124,155,267

139,209 5,941 250,000 395,150

83,045,079 31,467,695
1,061,942 7,881,481 1,088,279
5,941 -
124,550,417

20,820,081

(1,592,184)

19,227,897

131,886,029

1,594,098

133,480,127

$ 152,706,110

$

1,914

$ 152,708,024

11,109,100 11,109,100
(2,134,601) (9,572,240) $ (11,706,841)

14

bibb county school district
fund financial statements

BIBB COUNTY SCHOOL DISTRICT
BALANCE SHEET GOVERNMENTAL FUNDS
JUNE 30, 2018

Cash Investments Receivables:
Accounts Intergovernmental Due from other funds Prepaid and other assets

ASSETS

Total assets

LIABILITIES, DEFERRED INFLOWS OF RESOURCES,
AND FUND BALANCES

LIABILITIES Accounts payable Retainage payable Due to other funds Due to other governments Unearned revenue - grants Accrued payroll and payroll withholdings

Total liabilities

DEFERRED INFLOWS OF RESOURCES Unavailable revenue - property taxes Unavailable revenue - grants

Total deferred inflows of resources FUND BALANCES

General

SPLOST Projects

Nonmajor Governmental
Funds

Total Governmental
Funds

$ 7,628,445 $ 2,195,196 $ 1,366,308 $ 11,189,949

30,414,587

34,010,160

1,335,263

65,760,010

1,396,420 29,457,394
429,164 222,902
$ 69,548,912

2,745,394
77,330 -
$ 39,028,080

-
$ 2,701,571

1,396,420 32,202,788
506,494 222,902
$ 111,278,563

$ 5,494,497 $ 5,122,376 $

-

923,478

81,577

25,002

119,668

-

50,824

-

24,947,416

13,247

30,693,982

6,084,103

119,500 $ 10,736,373

-

923,478

14,398

120,977

-

119,668

-

50,824

96

24,960,759

133,994

36,912,079

4,344,767

-

-

4,344,767

2,216,560

-

-

2,216,560

6,561,327

-

-

6,561,327

Nonspendable Restricted Committed Assigned Unassigned

222,902 -
3,723,032 28,347,669

32,943,977
-

2,567,577 -

Total fund balances
Total liabilities, deferred inflows of resources and fund balances

32,293,603

32,943,977

2,567,577

$ 69,548,912 $ 39,028,080 $ 2,701,571

Amounts reported for governmental activities in the statement of net position are different because:
Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds.
Other long-term assets are not available to pay for current period expenditures and, therefore, are deferred in the funds.
Long-term liabilities are not due and payable in the current period and, therefore, are not reported in the funds.
Internal service funds are used by management to charge the costs of various benefits and services to individual funds. The assets and liabilities of the internal service funds are included in governmental activities in the statement of net position.
Net position of governmental activities

222,902 32,943,977
2,567,577 3,723,032 28,347,669 67,805,157
447,999,291 6,561,327
(370,601,205)
941,540 $ 152,706,110

The accompanying notes are an integral part of these financial statements.

15

BIBB COUNTY SCHOOL DISTRICT
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2018

REVENUES Local sources State sources Federal sources Interest income On-behalf payments Other sources Total revenues
EXPENDITURES Current: Instruction General administration Maintenance and operations Student transportation On-behalf payments Capital outlay Debt service: Principal retirement Interest and fiscal charges Total expenditures
Excess of revenues over expenditures
OTHER FINANCING USES Transfers out Total other financing uses
Net change in fund balances
FUND BALANCES, beginning of year
FUND BALANCES, end of year

General

SPLOST Projects

Nonmajor Governmental
Funds

Total Governmental
Funds

$ 87,779,137 $ 31,467,695 $

133,181,720

-

27,076,728

-

556,459

374,568

499,864

-

53,795

-

249,147,703

31,842,263

1,812,880 $ 121,059,712

-

133,181,720

-

27,076,728

18,043

949,070

-

499,864

-

53,795

1,830,923

282,820,889

212,187,166 7,065,522
18,333,312 10,245,449
499,864 2,211
502,236 83,679
248,919,439

1,202,252 25,224,878
26,427,130

969,575 -
246,647 52,448 93,503
1,362,173

213,156,741 7,065,522
18,579,959 11,500,149
499,864 25,320,592
502,236 83,679
276,708,742

228,264

5,415,133

468,750

6,112,147

(250,000)

-

(250,000)

-

(21,736)

5,415,133

32,315,339

27,528,844

$ 32,293,603 $ 32,943,977 $

468,750
2,098,827 2,567,577 $

(250,000) (250,000) 5,862,147
61,943,010 67,805,157

The accompanying notes are an integral part of these financial statements.

16

BIBB COUNTY SCHOOL DISTRICT
RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES FOR THE FISCAL YEAR ENDED JUNE 30, 2018

Amounts reported for governmental activities in the statement of activities are different because:

Net change in fund balances - total governmental funds.

$

Governmental funds report capital outlays as expenditures. However, in the statement of activities, the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense. This is the amount by which capital outlays exceeded depreciation in the current period.

The net effect of the disposal of capital assets is to decrease net position.

Revenues in the statement of activities that do not provide current financial resources are not reported as revenues in the funds.

The issuance of long-term debt provides current financial resources to governmental funds, while the repayment of the principal of long-term debt consumes the current financial resources of governmental funds. Neither transaction, however, has any effect on net position. Also, governmental funds report the effect of premiums and discounts when debt is first issued, whereas these amounts are deferred and amortized in the statement of activities. This amount is the net effect of these differences in the treatment of long-term debt and related items.
Some expenses 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.
Internal service funds are used by management to charge costs of various services and benefits to individual funds. The net revenue (expense) of certain activities of internal service funds is reported with governmental activities.
$
The accompanying notes are an integral part of these financial statements.

5,862,147 9,593,331
(998,534) 1,228,242
502,236 4,041,428
591,231 20,820,081

17

BIBB COUNTY SCHOOL DISTRICT
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
GENERAL FUND FOR THE FISCAL YEAR ENDED JUNE 30, 2018

REVENUES Local sources State sources Federal sources Interest income On-behalf payments Other sources Total revenues
EXPENDITURES Current: Instruction General administration Maintenance and operations Student transportation On-behalf payments Capital outlay Debt service: Principal retirements Interest and fiscal charges Total expenditures
Excess (deficiency) of revenues over (under) expenditures
OTHER FINANCING SOURCES (USES) Transfers in Transfers out Total other financing sources (uses)
Net change in fund balances
FUND BALANCES, beginning of year
FUND BALANCES, end of year

Budget Original

Final

$ 84,216,000 130,314,017 33,899,478 200,000 50,000 248,679,495

$ 84,216,000 130,652,742 37,222,233 200,000 50,000 252,340,975

Actual
$ 87,779,137 133,181,720 27,076,728 556,459 499,864 53,795 249,147,703

Variance with Final Budget

$

3,563,137

2,528,978

(10,145,505)

356,459

499,864

3,795

(3,193,272)

210,804,125 8,505,370
22,901,397 8,513,848 20,000
502,236 83,180
251,330,156

214,420,658 9,509,052
20,339,790 9,949,833 20,000
502,236 83,180
254,824,749

212,187,166 7,065,522
18,333,312 10,245,449
499,864 2,211
502,236 83,679
248,919,439

2,233,492 2,443,530 2,006,478
(295,616) (499,864)
17,789
(499) 5,905,310

(2,650,661)

(2,483,774)

228,264

2,712,038

600,000 (1,150,000)
(550,000)

600,000 (1,150,000)
(550,000)

(250,000)
(250,000)

(3,200,661)

(3,033,774)

(21,736)

32,315,339

32,315,339

32,315,339

$ 29,114,678

$ 29,281,565

$ 32,293,603

$

(600,000) 900,000 300,000
3,012,038 -
3,012,038

The accompanying notes are an integral part of these financial statements.

18

BIBB COUNTY SCHOOL DISTRICT
STATEMENT OF NET POSITION PROPRIETARY FUNDS JUNE 30, 2018

CURRENT ASSETS Cash Investments Receivables:
Accounts Intergovernmental Due from other funds Prepaid items Inventories
Total current assets
NONCURRENT ASSETS Construction in progress Buildings Furniture and equipment
Total depreciable assets Less accumulated depreciation
Total noncurrent assets
Total assets

ASSETS

Business-type Activities - Enterprise Funds

School Food Service

Nonmajor Enterprise
Funds

Total Enterprise
Funds

Governmental Activities -
Internal Service Funds

$

2,088,011 $

9,842,337

41,489 369,958
4,247 1,982 584,458

12,932,482

103,360 $ 75,426

2,191,371 $ 9,917,763

-

41,489

-

369,958

-

4,247

-

1,982

-

584,458

178,786

13,111,268

1,932,936 -
1,143 -
1,934,079

99,585 9,929,324 9,284,709 19,214,033 (11,045,494) 8,268,124
21,200,606

78,525 78,525 (63,827) 14,698
193,484

99,585 9,929,324 9,363,234 19,292,558 (11,109,321) 8,282,822
21,394,090

-
1,934,079

DEFERRED OUTFLOWS OF RESOURCES Pensions Other post-employment benefits
Total deferred outflows of resources
LIABILITIES
CURRENT LIABILITIES Accounts payable Due to other funds Accrued payroll and payroll withholdings Unearned revenue Retainage payable Accrued claims expense
Total current liabilities
NONCURRENT LIABILITIES Accrued claims expense, net of current position Net pension liability Net other post-employment benefit liability
Total noncurrent liabilities
Total liabilities
DEFERRED INFLOWS OF RESOURCES Pensions Other post-employment benefits
Total deferred inflows of resources
NET POSITION (DEFICIT) Investment in capital assets Unrestricted
Total net position (deficit)

478,096

31,157

509,253

-

1,297,873

7,901

1,305,774

-

1,775,969

39,058

1,815,027

-

267,675 324,201 806,002
15,527 99,585
-
1,512,990

7,743 65,563
4,861 50
-
78,217

2,837,084 15,847,085
18,684,169
20,197,159

184,893
96,469
281,362
359,579

303,281 2,221,730
2,525,011

19,765 13,525
33,290

8,268,124

(8,013,719)

$

254,405 $

14,698 (175,025) (160,327)

275,418 389,764 810,863
15,577 99,585
-
1,591,207

115,840 -
484,431
600,271

3,021,977 15,943,554
18,965,531
20,556,738

484,432 -
484,432
1,084,703

323,046

-

2,235,255

-

2,558,301

-

8,282,822 (8,188,744)
94,078 $

849,376 849,376

Adjustment to reflect the consolidation of internal service fund activities related to enterprise funds.
Net position of business-type activities
The accompanying notes are an integral part of these financial statements.
19

(92,164)

$

1,914

BIBB COUNTY SCHOOL DISTRICT
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITION PROPRIETARY FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2018

OPERATING REVENUES Local sources Total operating revenues

Business-type Activities - Enterprise Funds

School Food Service

Nonmajor Enterprise
Funds

Total Enterprise
Funds

$

774,008 $

774,008

71,269 $ 71,269

845,277 845,277

Governmental Activities -
Internal Service Funds

$

2,218,244

2,218,244

OPERATING EXPENSES Food service operations Central support services Enterprise operations Maintenance and operations Depreciation Total operating expenses
Operating income (loss)
NON-OPERATING REVENUES Intergovernmental revenues Interest earned Gain on the sale of capital assets Total non-operating revenues

18,656,958 -
514,712 19,171,670
(18,397,662)
16,600,007 139,209 5,941
16,745,157

261,642 19,112 3,052 283,806
(212,537)
-

18,656,958 -
261,642 19,112
517,764 19,455,476
(18,610,199)
16,600,007 139,209 5,941
16,745,157

27,440
1,576,715
1,604,155
614,089
-

Income (loss) before transfers

(1,652,505)

(212,537)

(1,865,042)

614,089

Transfers in Change in net position

(1,652,505)

250,000 37,463

250,000 (1,615,042)

614,089

NET POSITION (DEFICIT), beginning of year, as restated NET POSITION (DEFICIT), end of year

1,906,910

$

254,405 $

(197,790) (160,327)

235,287

$

849,376

Adjustment to reflect the consolidation of internal service fund activities related to enterprise funds.
Change in net position of business-type activities

22,858 $ (1,592,184)

The accompanying notes are an integral part of these financial statements.

20

BIBB COUNTY SCHOOL DISTRICT
STATEMENT OF CASH FLOWS PROPRIETARY FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2018

CASH FLOWS FROM OPERATING ACTIVITIES Receipts from local sources Receipts from interfund services provided Payments to suppliers Payments to employees Payments on behalf of employees Payments for interfund services used
Net cash provided by (used in) operating activities
CASH FLOWS FROM NON-CAPITAL FINANCING ACTIVITIES Subsidy from federal and state grants Transfers from other funds
Net cash provided by non-capital financing activities
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Purchase of capital assets
Net cash used in capital and related financing activities
CASH FLOWS FROM INVESTING ACTIVITIES Interest received Proceeds from sale of capital assets
Net cash provided by investing activities

Business-type Activities - Enterprise Funds

School Food Service

Nonmajor Enterprise
Funds

Total Enterprise
Funds

Governmental Activities -
Internal Service Funds

$

822,896 $

-

(9,888,200)

(5,418,362)

(2,681,156)

-

71,269 -
(144,156) (79,970) (22,449) -

$

894,165 $

-

(10,032,356)

(5,498,332)

(2,703,605)

-

2,217,282
(2,177,042)

(17,164,822)

(175,306)

(17,340,128)

40,240

16,593,761

-

16,593,761

-

-

250,000

250,000

-

16,593,761

250,000

16,843,761

-

(1,476,573)

-

(1,476,573)

-

(1,476,573)

-

(1,476,573)

-

139,209 22,568
161,777

-

139,209

-

-

22,568

-

-

161,777

-

(Continued)

21

BIBB COUNTY SCHOOL DISTRICT
STATEMENT OF CASH FLOWS PROPRIETARY FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2018

Business-type Activities - Enterprise Funds

School Food Service

Nonmajor Enterprise
Funds

Total Enterprise
Funds

Governmental Activities -
Internal Service Funds

Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents, beginning of year
Cash and cash equivalents, end of year

$ (1,885,857) $ 13,816,205
$ 11,930,348 $

74,694 $ (1,811,163) $

104,092

13,920,297

178,786 $ 12,109,134 $

40,240 1,892,696 1,932,936

Classified as: Cash Investments

$

2,088,011 $

9,842,337

$ 11,930,348 $

103,360 $ 2,191,371 $

75,426

9,917,763

178,786 $ 12,109,134 $

1,932,936 -
1,932,936

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 Depreciation (Increase) decrease in accounts receivable Decrease in due from other funds (Increase) decrease in prepaids Decrease in inventories Increase (decrease) in accounts payable Increase (decrease) in due to other funds Increase (decrease) in payroll related liabilities Increase in unearned revenue Increase in retainage payable Decrease in accrued claims expense
Net cash provided by (used in) operating activities

$ (18,397,662) $

(212,537) $ (18,610,199) $

614,089

514,712 48,301 260 (947) 20,777
151,712 (144,956) 542,809
587 99,585
-
$ (17,164,822) $

3,052 -
2,463 -
(3,961) 65,563 (29,886)
-

517,764 48,301 260 1,516 20,777
147,751 (79,393) 512,923
587 99,585
-

(175,306) $ (17,340,128) $

(962)
(12,292) (560,595)
40,240

The accompanying notes are an integral part of these financial statements.

22

BIBB COUNTY SCHOOL DISTRICT
STATEMENT OF FIDUCIARY NET POSITION FIDUCIARY FUNDS JUNE 30, 2018

Cash Investments Accounts receivable
Total assets
Accounts payable Due to others
Total liabilities
Reserved for leadership awards

ASSETS LIABILITIES NET POSITION

The accompanying notes are an integral part of these financial statements.

W. D. Ryals Memorial
Private-Purpose Trust Fund

Agency Funds

$

-

$

852,416

2,312

23,894

-

322

2,312

876,632

-

-

-

876,632

-

876,632

$

2,312

$

-

23

BIBB COUNTY SCHOOL DISTRICT
STATEMENT OF CHANGES IN FIDUCIARY NET POSITION FIDUCIARY FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2018
ADDITIONS Interest income Total additions Change in net position
NET POSITION, beginning of year NET POSITION, end of year
The accompanying notes are an integral part of these financial statements.

W. D. Ryals Memorial
Private-Purpose Trust Fund

$

31

31

31

2,281

$

2,312

24

BIBB COUNTY SCHOOL DISTRICT
NOTES TO FINANCIAL STATEMENTS

NOTE 1.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Reporting Entity
The Bibb County School District (the "District") was incorporated on August 23, 1872, and provides for a system of education for the children in the City of Macon, Georgia ("Macon") and Bibb County, Georgia ("Bibb County") as authorized by its charter. The District operates under a Board/Superintendent form of government. The eight-member Board of Education (the "Board") is elected by the public and the Board appoints the superintendent. During the year ended June 30, 2005, the citizens of Bibb County voted to give the Board the power to determine the millage rate at which school taxes are levied and to incur bonded indebtedness with voters' approval. In previous years, the District was reported as a component unit of Bibb County. However, beginning with the fiscal year ended June 30, 2005, the District is reported as its own primary government.
As required by accounting principles generally accepted in the United States of America, the financial statements of the reporting entity include those of the Bibb County School District (the "primary government") and its component unit. The component unit discussed below is included in the District's reporting entity because of the significance of their operational or financial relationship with the District. Management has determined exclusion of the entity from the financial statements of the District would be considered misleading. In conformity with accounting principles generally accepted in the United States of America, as set forth in Governmental Accounting Standards Board Statement No. 61, The Financial Reporting Entity: Omnibus an amendment of GASB Statements No. 14 and No. 34, the financial statements of the component unit are discretely presented in the governmentwide financial statements.
Discretely Presented Component Unit
The Academy for Classical Education (the "Academy") is responsible for the public education of all students attending its school. The Academy was created through a contract between the Bibb County School District and the Academy whereby all State funding associated with the students attending the Academy and certain specified local funds are turned over to the Academy to cover the cost of its operations. The fiscal year ended June 30, 2015 was the first year of operations for the Academy. The Academy is located in Bibb County, Georgia providing education for almost 1,394 students in grades kindergarten through tenth grade. In future years, one grade will be added each year until the school serves kindergarten through twelfth grade. Complete financial statements for the Academy may be obtained at the entity's administrative offices:
Academy for Classical Education 5665 New Forsyth Road Macon, Georgia 31210 www.acemacon.org

25

NOTES TO FINANCIAL STATEMENTS

NOTE 1.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
B. Government-wide and Fund Financial Statements
The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the non-fiduciary activities of the primary government and its component unit. For the most part, the effect of interfund activity has been removed from these statements. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant extent on fees and charges for support. Likewise, the primary government is reported separately from the legally separate component unit for which the primary government is financially accountable.
The statement of activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include: 1) charges to those who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment, and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues.
Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds, even though the latter are excluded from the government-wide financial statements. Major individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements.

26

NOTES TO FINANCIAL STATEMENTS

NOTE 1.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
C. Measurement Focus, Basis of Accounting and Basis of Presentation
The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary fund and the fiduciary fund financial statements. Agency funds have no measurement focus; however, they use the accrual basis of accounting to recognize receivables and payables. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of the related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.
Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period. For this purpose, the District considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences and claims and judgments, are recorded only when payment is due.
Property taxes, intergovernmental grants, and investment income associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. All other revenue items are considered to be measurable and available only when cash is received by the District.
Revenue from grants and donations is recognized in the year in which all eligibility requirements have been satisfied. Eligibility requirements include timing requirements, which specify the year when the resources are required to be used or the year when use is first permitted; matching requirements, in which the District must provide local resources to be used for a specified purpose; and expenditure requirements, in which the resources are provided to the District on a reimbursement basis.

27

NOTES TO FINANCIAL STATEMENTS

NOTE 1.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
C. Measurement Focus, Basis of Accounting and Basis of Presentation (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 12-month contract period, generally September 1 through August 31. In accordance with the requirements of the enabling legislation of the QBE program, the State of Georgia reimburses the District over the same 12-month 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 and August 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.
The District reports the following major governmental funds:
The General Fund is the District's primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund.
The SPLOST Projects Fund accounts for the proceeds of a 1% Special Purpose Local Option Sales Tax. Funds are used for: building renovations; land and building acquisitions; and construction of new educational and administrative facilities.
The District reports the following major proprietary fund:
The School Food Service Fund accounts for the monies and commodities received from the federal and state governments and the School Food Service's cafeteria sales for the purpose of maintaining the District's breakfast, lunch, and snack programs.

28

NOTES TO FINANCIAL STATEMENTS

NOTE 1.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
C. Measurement Focus, Basis of Accounting and Basis of Presentation (Continued)
Additionally, the District reports the following fund types:
The Capital Projects Funds account for the acquisition of capital assets and construction or improvement of major capital projects such as construction of new schools.
The Enterprise Funds account for the operations of the stadiums, Wellness Center, and Hutchings College and Career Academy.
The Internal Service Funds account for workers' compensation and unemployment compensation services that are provided to other departments or funds of the District on a cost-reimbursement basis.
The Private-purpose Trust Fund accounts for resources devoted to the presentation of an award to a student and teacher each year at Appling Middle School. All resources of the fund, including any earnings on invested resources, may be used to support this purpose. There is no requirement that any portion of the resources be preserved as capital.
The Agency Funds are used to account for school activity funds related to school-wide fundraising activities and to account for flex medical and dependent care for the employees of the District.
As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements. Exceptions to this general rule are charges between the District's school food service program and the general fund. Elimination of these charges would distort the direct costs reported for the various functions concerned.
Amounts reported as program revenues include: 1) charges for services provided, 2) operating grants and contributions, and 3) capital grants and contributions. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes.

29

NOTES TO FINANCIAL STATEMENTS

NOTE 1.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
C. Measurement Focus, Basis of Accounting and Basis of Presentation (Continued)
Proprietary funds distinguish operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the enterprise funds and of the District's internal service funds are charges for goods and services provided. Operating expenses of the enterprise funds and internal service funds include the cost of these goods and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as non-operating revenues and expenses.
When both restricted and unrestricted resources are available for use, it is the District's policy to use restricted resources first, then unrestricted resources as they are needed.
D. Cash and Investments
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.
State statutes authorize the District to invest in: obligations of the United States, the State of Georgia and other political subdivisions of the State of Georgia, and other states; prime bankers' acceptances; repurchase agreements; and the Georgia local government investment pool (Georgia Fund 1). Georgia Fund 1, created by O.C.G.A. 36-83-8, is a stable net asset value investment pool which follows Standard & Poor's criteria for AAAf rated money market funds and is regulated by the Georgia Office of the State Treasurer. The pool is not registered with the SEC as an investment company. The pool's primary objectives are safety of capital, investment income, liquidity and diversification while maintaining principal ($1 per share value). The asset value is calculated weekly to ensure stability. The pool distributes earnings (net of management fees) on a monthly basis and determines participants' shares sold and redeemed based on $1 per share. The pool also adjusts the value of its investments to fair market value as of year-end and the District's investment in the Georgia Fund 1 is reported at fair value.

30

NOTES TO FINANCIAL STATEMENTS

NOTE 1.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
E. Receivables and Payables
Activity between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year as well as all other outstanding balances between funds are reported as "due to/from other funds". Any residual balances outstanding between the governmental activities and business-type activities are reported in the government-wide financial statements as "internal balances".
F. 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 an expenditure in the General Fund. The total of the on-behalf payments for the fiscal year ended June 30, 2018 was $499,864.
G. Inventories and Prepaid Items
Inventories of the School Food Service Fund are stated at cost using the first-in, first-out method. Donated food commodities are recorded at fair value. The District utilizes the consumption method to recognize inventory usage. Under the consumption method, inventories are recorded as expenses when used rather than when purchased.
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements. The consumption method is used to account for prepaid items in the District's funds.
H. Capital Assets
Capital assets, which include property, plant, and equipment, are reported in the applicable governmental or business-type activities column in the government-wide financial statements. Capital assets are defined by the District as assets with an initial, individual cost of more than $5,000 and an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets, donated works of art and similar items, and capital assets received in a service concession arrangement are recorded at acquisition value.
The cost of normal maintenance and repairs that do not add to the value of the asset or materially extend assets' lives are not capitalized.

31

NOTES TO FINANCIAL STATEMENTS

NOTE 1.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

H. Capital Assets (Continued)

Capital assets are depreciated using the straight line method over the following estimated useful lives:

Asset

Years

Land improvements Buildings Equipment

20 25-50 4-20

I. Deferred Outflows/Inflows of Resources

GASB Statements No. 63, Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position and No. 65, Items Previously Reported as Assets and Liabilities, established accounting and financial reporting for deferred outflows/inflows of resources and the concept of net position as the residual of all other elements presented in a statement of net position.

In addition to assets, the statement of financial position/governmental funds balance sheet reports a separate section for deferred outflows of resources. This separate financial statement element represents a consumption of resources that applies to future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then. The Governmental Activities report several types of deferred outflows of resources related to the reporting of the net pension liability and net OPEB liability. See also Note 12 Retirement Plans and Note 13 Other Post-Employment Benefits.

In addition to liabilities, the statement of financial position/governmental funds balance sheet reports a separate section for deferred inflows of resources. This separate financial statement element represents an acquisition of resources that applies to future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. In addition to the items related to changes in the net pension liability and net OPEB liability as discussed below, the District has one type of item, which arises only under a modified accrual basis of accounting that qualifies for reporting in this category. Accordingly, the item, unavailable revenue, is reported only in the governmental funds balance sheet. The governmental funds report unavailable revenues from two sources: property taxes and grants. These amounts are deferred and will be recognized as an inflow of resources in the period in which the amounts become available. The Governmental Activities and Business-Type Activities report deferred inflows of resources related to the reporting of the net pension liability and net OPEB liability. These deferred inflows of resources will be amortized over five years.

32

NOTES TO FINANCIAL STATEMENTS

NOTE 1.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
J. 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 Teacher Retirement System of Georgia (TRS), the Public School Employees Retirement System (PSERS), and the Employees' Retirement System (ERS), and additions to/deductions from each plan's fiduciary net position have been determined on the same basis as they are reported by each plan. 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.
K. Other Post-Employment Benefits (OPEB)
For purposes of measuring the net OPEB liability, 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 Post-employment 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.
L. Long-Term Obligations
In the government-wide financial statements, and proprietary fund types in the fund financial statements, long-term debt and other long-term obligations are reported as liabilities in the applicable governmental activities, business-type activities, or proprietary fund type statement of net position. In the fund financial statements, governmental fund types report the face amount of debt issued as other financing sources.
M. Compensated Absences
Accumulated unpaid sick leave costs are not vested and are not accrued in any fund, but are recognized as expenditures or expenses, when paid. Accumulated unpaid vacation costs are accrued when incurred in the government-wide, proprietary, and fiduciary fund financial statements.

33

NOTES TO FINANCIAL STATEMENTS

NOTE 1.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
N. Fund Equity
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".
Fund Balance Generally, fund balance represents the difference between the assets and liabilities 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. Fund balances are classified as follows:
Nonspendable Fund balances are reported as nonspendable when amounts cannot be spent because they are either (a) not in spendable form (i.e., items that are not expected to be converted to cash, or (b) legally or contractually required to be maintained intact.
Restricted Fund balances are reported as restricted when there are limitations imposed on their use either through enabling legislation or through external restrictions imposed by creditors, grantors or laws or regulations of other governments.
Committed Fund balances are reported as committed when they can be used only for specific purposes pursuant to constraints imposed by formal action of the Board of Education through the adoption of a resolution. Likewise, fund balances that have been committed cannot be used for any other purposes unless the Board of Education removes the commitment of these funds through formal action of the adoption of a resolution. For a fund balance to show as committed for a fiscal year, the Board must adopt the resolution prior to June 30 even though the dollar amount of the commitment may be determined at a date subsequent to June 30.
Assigned Fund balances are reported as assigned when amounts are constrained by the District's intent to be used for the specific purposes, but are neither restricted nor committed. Through resolution, the Board of Education has authorized the Chief Financial Officer or Accounting Director to assign fund balances.
Unassigned Fund balances are reported as unassigned as the residual amount when the balances do not meet any of the above criterion. The School District reports positive unassigned fund balance only in the General Fund. Negative unassigned fund balance may be reported in all funds.

34

NOTES TO FINANCIAL STATEMENTS

NOTE 1.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
N. Fund Equity (Continued)
Flow Assumptions When both restricted and unrestricted amounts of fund balances are available for use of expenditures incurred, it is the District's policy to use restricted amounts first and then unrestricted amounts as they are needed. For unrestricted amounts of fund balance, it is the District's policy to use fund balance in the following order:
Committed Assigned Unassigned
Net Position Net position represents the difference between assets and liabilities in reporting which utilizes the economic resources measurement focus. Net investment in capital assets consists of capital assets, net of accumulated depreciation, reduced by the outstanding balances of any borrowing used (i.e., the amount that the District has spent) for the acquisition, construction or improvement of those assets. Net position is reported as restricted using the same definition as used for restricted fund balance as described in the section above. All other net position is reported as unrestricted.
O. Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

35

NOTES TO FINANCIAL STATEMENTS

NOTE 2.

RECONCILIATION OF GOVERNMENT-WIDE FINANCIAL STATEMENTS AND FUND FINANCIAL STATEMENTS

A. Explanation of Certain Differences Between the Governmental Fund Balance Sheet and the Government-wide Statement of Net Position

The Governmental Fund Balance Sheet includes a reconciliation between fund balance total governmental funds and net position governmental activities as reported in the government-wide statement of net position. One element of that reconciliation explains that "long-term liabilities are not due and payable in the current period and, therefore, are not reported in the funds." The details of this $370,601,205 difference are as follows:

Notes payable Compensated absences Net pension liability Net other post-employment benefit liability Pensions - deferred inflows of resources Net OPEB - deferred inflows of resources Pensions - deferred outflows of resources Net OPEB - deferred outflows of resources
Net adjustment to reduce fund balance - total governmental funds to arrive at net position - governmental activities

$ (2,512,238) (1,615,111)
(188,413,081) (179,182,006)
(20,194,104) (25,120,973) 31,761,338 14,674,970
$ (370,601,205)

B. Explanation of Certain Differences between the Governmental Fund Statement of Revenues, Expenditures and Changes in Fund Balances and the Government-wide Statement of Activities

The Governmental Fund Statement of Revenues, Expenditures and Changes in Fund Balances includes a reconciliation between net changes in fund balances total governmental funds and changes in net position of governmental activities as reported in the government-wide statement of activities. One element of that reconciliation explains that "Governmental funds report capital outlays as expenditures. However, in the statement of activities the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense."

36

NOTES TO FINANCIAL STATEMENTS

NOTE 2.

RECONCILIATION OF GOVERNMENT-WIDE FINANCIAL STATEMENTS AND FUND FINANCIAL STATEMENTS (CONTINUED)

B. Explanation of Certain Differences between the Governmental Fund Statement of Revenues, Expenditures and Changes in Fund Balances and the Government-wide Statement of Activities (Continued)

The details of this $9,593,331 difference are as follows:

Capital outlay Depreciation expense Net adjustment to increase net changes in fund balances - total
governmental funds to arrive at changes in net position of governmental activities

$

23,295,329

(13,701,998)

$

9,593,331

Another element of that reconciliation states that "Some expenses 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." The details of this $4,041,428 difference are as follows:

Change in compensated absences Adjustment to record pension expense and related revenue for pension
special funding situations, net of fund level amounts Change in net pension liability and deferred inflows and outflows
related to pension activity Change in net OPEB liability and deferred inflows and outflows
related to pension activity Net adjustment to reduce net changes in fund balances - total
governmental funds to arrive at changes in net position of governmental activities

$

(152,590)

(51,858)

7,327,062

(3,081,186)

$

4,041,428

37

NOTES TO FINANCIAL STATEMENTS

NOTE 3.

LEGAL COMPLIANCE BUDGETS
Budgetary Data. The District adopts an annual budget on a basis consistent with accounting principles generally accepted in the United States of America for the General Fund. The SPLOST Projects Fund adopts a project length budget. Proprietary fund budgets are prepared and utilized as a management tool to assess the operations of the enterprise and internal service funds. All annual appropriations lapse at fiscal year-end.
The budget is a complete financial plan for the District's fiscal year, usually the school year, and is based upon careful estimates of expenditures and probable incomes. The District's budget consists of the educational plan, expenditures for the educational plan and sources and amount of revenue. Prior to the first Monday in June, the administration of the District prepares and submits a proposed budget to the Board for approval.
After the budget has been tentatively approved by the Board, the budget must be advertised, in form and manner to be prescribed by the Board, at least one time in a newspaper of general circulation in Bibb County. Subsequent to this procedure, the Board shall revise the budget as necessary and adopt a final school budget.
The approved budget shall be certified and forwarded to the Georgia Department of Education for final approval. The budget is amended during the first six months and a mid-year review budget is prepared and approved by the Board. The budget is formally adopted at the program level and the legal level of the District's budgetary controls is the program level. Any amendments made after midyear review may be approved by the District's management.

38

NOTES TO FINANCIAL STATEMENTS

NOTE 4.

DEPOSITS AND INVESTMENTS

Credit Risk. As of June 30, 2018, the District's investments were all rated AAAf by Standard & Poor's.

As of June 30, 2018, the District had the following investments:

Investment Georgia Fund I, AAAf

Maturities 10-day weighted average

Fair Value

$

75,703,979

Investments are reported in the following activities: Governmental Business-type Fiduciary

$

65,760,010

9,917,763

26,206

$

75,703,979

Interest Rate Risk. As a means of limiting its exposure to fair value losses arising from rising interest rates, the District's investment policy limits all operating investments to instruments that mature within one year. All non-operating investments are best matched with their cash flow needs, with investment life of no more than five years.

Fair Value Measurements. The District categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; and Level 3 inputs are significant unobservable inputs.

The Georgia Fund 1 is an investment pool which 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 the Georgia Fund 1 within the fair value hierarchy.

Custodial Credit Risk Deposits. Custodial risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover deposits or will not be able to recover collateral securities that are in the possession of an outside party. State statutes require all deposits and investments (other than federal and state government instruments) to be collateralized by depository insurance, obligations of the U.S. government, or bonds of public authorities, counties, or municipalities. As of June 30, 2018, the District's bank balance of $17,441,086 was fully collateralized in compliance with state requirements.
Custodial Credit Risk Investments. For investments, this is the risk that, in the event of the failure of the depository financial institution, the government will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. As of June 30, 2018, the District was not exposed to custodial credit risk for investments.

39

NOTES TO FINANCIAL STATEMENTS

NOTE 5.

RECEIVABLES

Intergovernmental receivables at June 30, 2018, for the District's individual major funds including the applicable allowances for uncollectible accounts are as follows:

General

SPLOST

School Food Service

Intergovernmental Accounts Less allowance
for uncollectibles Net total receivable

$

34,794,960 $

1,396,420

(5,337,566)

$

30,853,814 $

2,745,394 $ -
2,745,394 $

369,958 41,489
411,447

NOTE 6.

PROPERTY TAXES
Bibb County bills and collects property taxes for the District. Property taxes are levied (assessed) on all taxable real, public utility and personal property (including vehicles) located within the County as of January 1st of each year.
Assessed values for property tax purposes are determined by the Bibb County Board of Tax Assessors for all property except public utilities and motor vehicles. Assessed value is set at 40% of market value. The State of Georgia establishes values for public utilities and motor vehicles. Real property taxes for 2017 were levied on August 18, 2017, and are due in two installments - the first payment was due October 16, 2017, and the final payment was due by November 15, 2017. Bibb County may place liens on property once the related tax payments become delinquent. The property tax receivable allowance is equal to 20% of outstanding property taxes at June 30, 2018.
Vehicle personal property taxes are due upon each respective payor's date of birth on an annual basis. Beginning in April 2013, a title ad valorem tax is assessed upon sale of a vehicle, which replaces the personal property tax due annually on the payor's date of birth.

40

NOTES TO FINANCIAL STATEMENTS

NOTE 7.

CAPITAL ASSETS A. Primary Government

Capital asset activity for the fiscal year ended June 30, 2018, is as follows:

Governmental activities:
Capital assets, not being depreciated: Land Construction in progress Total
Capital assets, being depreciated: Land improvements Buildings Equipment Total
Less accumulated depreciation for: Land improvements Buildings Equipment Total
Total capital assets, being depreciated, net
Governmental activities capital assets, net
Business-type activities:
Capital assets, not being depreciated: Construction in progress Total
Capital assets, being depreciated: Buildings Equipment Total
Less accumulated depreciation for: Buildings Equipment Total
Total capital assets, being depreciated, net
Business-type activities capital assets, net

Beginning Balance

Increases

Decreases

Transfers

Ending Balance

$

13,690,136 $

2,480,318

16,170,454

8,783,224 503,352,616
45,234,261 557,370,101

(3,171,500) (109,733,725)
(21,230,836) (134,136,061)

423,234,040

$

439,404,494 $

- $ 14,015,745 14,015,745
440,414 5,658,486 3,180,684 9,279,584
(447,236) (9,912,796) (3,341,966) (13,701,998)
(4,422,414)
9,593,331 $

- $ (486,968) (486,968)
(1,854,275)
(81,319) (1,935,594)
1,359,326
64,702 1,424,028
(511,566)
(998,534) $

- $ (3,457,060) (3,457,060)
149,490 1,834,322 1,473,248 3,457,060
-
3,457,060
- $

13,690,136 12,552,035 26,242,171
9,373,128 508,991,149
49,806,874 568,171,151
(3,618,736) (118,287,195)
(24,508,100) (146,414,031)
421,757,120
447,999,291

$

- $

-

9,951,260 8,235,505 18,186,765

(4,633,925) (6,212,200) (10,846,125)

7,340,640

$

7,340,640 $

99,585 $ 99,585
1,376,988 1,376,988
(122,015) (395,749) (517,764)
859,224
859,224 $

- $ -
(21,936) (249,259) (271,195)
10,509 244,059 254,568
(16,627)
(16,627) $

- $ -
-
-
-
- $

99,585 99,585
9,929,324 9,363,234 19,292,558
(4,745,431) (6,363,890) (11,109,321)
8,183,237
8,282,822

41

NOTES TO FINANCIAL STATEMENTS

NOTE 7.

CAPITAL ASSETS (CONTINUED) A. Primary Government (Continued)

Depreciation expense was charged to functions/programs of the District as follows:

Governmental activities:

Instruction

$

General administration

Maintenance and operations

Student transportation

Total depreciation expense - governmental activities

$

Business-type activities:

School food services

$

Other activities

Total depreciation expense - business-type activities

$

11,051,113 860,090 730,316
1,060,479
13,701,998
514,712 3,052
517,764

B. Discretely Presented Component Unit Academy for Classical Education

Capital assets, not being depreciated: Land improvements Construction in progress Total
Capital assets, being depreciated: Building improvements Buildings Equipment Total
Less accumulated depreciation for: Building improvements Buildings Equipment Total
Total capital assets, being depreciated, net
Total capital assets, net

Beginning Balance

Increases

Decreases

Transfers

Ending Balance

$

392,696 $

31,322 $

4,661,548

1,536,071

5,054,244

1,567,393

- $ -

-

$

(6,197,619)

(6,197,619)

424,018 -
424,018

2,216,089 21,628,584
1,224,531 25,069,204

479,356 -
305,359 784,715

-

-

2,695,445

-

6,197,619

27,826,203

-

-

1,529,890

-

6,197,619

32,051,538

(531,418)

(354,840)

-

(846,521)

(618,185)

-

(274,764)

(170,521)

-

(1,652,703)

(1,143,546)

-

-

(886,258)

-

(1,464,706)

-

(445,285)

-

(2,796,249)

23,416,501 $ 28,470,745 $

(358,831) 1,208,562 $

- $

6,197,619 - $

29,255,289 29,679,307

42

NOTES TO FINANCIAL STATEMENTS

NOTE 8.

FUND BALANCE CLASSIFICATION

The following is an analysis of fund balance as of June 30, 2018.

Nonspendable: Prepaids
Restricted for: Capital projects
Committed for: Student activities Capital projects
Assigned for: Subsequent year's budget
Unassigned

General

SPLOST Projects

Nonmajor Governmental
Funds

$

222,902 $

- $

-

32,943,977

-

-

-

-

3,723,032

-

28,347,669

-

$

32,293,603 $

32,943,977 $

-
-
518,714 2,048,863
2,567,577

NOTE 9.

LONG-TERM DEBT
A. Primary Government
Energy Services Note Payable. On November 15, 2012, the Board of Education approved a resolution authorizing the negotiation and execution of a note payable for certain energy conservation measures related to the retrofit and installation of induction lighting throughout the District. This resolution resulted in the execution of a master lease agreement for the costs of installation/construction of approximately $3,935,000 together with interest paid under the master lease to finance the installation/construction phase of approximately $750,000 and the evaluation, measurement and verification costs over the guaranteed period of approximately $1,615,000 for total project cost of approximately $6,300,000 exclusive of actual annual expenses and savings and allowable adjustments during the installation/construction phase.

43

NOTES TO FINANCIAL STATEMENTS

NOTE 9.

LONG-TERM DEBT (CONTINUED)
A. Primary Government (Continued)
The future minimum note obligations and the net present value of these minimum note payments as of June 30, 2018, are as follows:

Year Ending June 30,
2019 2020 2021 2022 2023 Total

Principal

$

532,391

548,469

633,157

735,444

62,777

$

2,512,238

Interest

$

67,609 $

51,531

34,258

13,684

223

$

167,305 $

Total
600,000 600,000 667,415 749,128
63,000 2,679,543

Long-term liability activity for the year ended June 30, 2018, is as follows:

Governmental activities: Note payable Net pension liability Net OPEB liability Claims payable Compensated absences Governmental activities:
Long-term liabilities
Business-type activities: Net pension liability Net OPEB liability Business-type activities:
Long-term liabilities

Beginning Balance

Additions

Reductions

Ending Balance

Due Within One Year

$

3,014,474 $

216,854,907

193,196,445

1,645,836

1,462,521

$ 416,174,183 $

- $

(502,236) $

23,611,405

(52,053,231)

17,756,333

(31,770,772)

1,604,155

(2,165,288)

473,463

(320,873)

43,445,356 $ (86,812,400) $

2,512,238 $ 188,413,081 179,182,006
1,084,703 1,615,111
372,807,139 $

532,391 -
600,271 289,701
1,422,363

$

3,181,344 $

378,955 $

(538,322) $

3,021,977 $

-

17,190,554

1,579,759

(2,826,759)

15,943,554

-

$ 20,371,898 $

1,958,714 $

(3,365,081) $

18,965,531 $

-

For governmental activities, compensated absences, net pension liability, and net OPEB liability are liquidated primarily by the General Fund.

44

NOTES TO FINANCIAL STATEMENTS

NOTE 9. LONG-TERM DEBT (CONTINUED)

B. Discretely Presented Component Unit Academy for Classical Education

Bonds payable Less: unamortized discount Net pension liability Net OPEB liability
Long-term liabilities

Beginning Balance
$ 34,990,000 (80,760)
5,726,783 6,443,119 $ 47,079,142

Additions

$

-

2,307

1,976,915

1,926,039

$

3,905,261

Reductions

$

- $

-

(1,360,944)

(851,446)

$

(2,212,390) $

Ending Balance

Due Within One Year

34,990,000 $

-

(78,453)

-

6,342,754

-

7,517,712

-

48,772,013 $

-

NOTE 10. OPERATING LEASES

The District, as lessor, leases excess space in its central office building (approximately 30% of the total square footage) to various private companies and accounts for these leases as operating leases.

The cost of the building, related depreciation and net book value of the central office building is as follows:

Cost of building Accumulated depreciation Net book value

$ 8,511,484 (3,215,441)
$ 5,296,043

Lease terms vary and extend through October 31, 2025. Rental revenues under these operating leases during the year ended June 30, 2018, were $487,598. Minimum future rentals to be received under operating leases are as follows:

Year Ending June 30, 2019 2020 2021 2022 2023 2024-2025

$

487,598

467,528

602,694

457,493

457,493

662,463 $ 3,135,269

45

NOTES TO FINANCIAL STATEMENTS

NOTE 11. INTERFUND RECEIVABLES, PAYABLES AND TRANSFERS

The composition of interfund balances as of June 30, 2018, is as follows:

Due to/from other funds:

Receivable Fund
General Fund SPLOST Projects Fund School Food Service
Total

General Fund

SPLOST Projects
Fund

Payable Fund School Food Service

Nonmajor Enterprise
Funds

Nonmajor Governmental
Funds

Total

$

- $ 25,002 $ 324,201 $ 65,563 $

77,330

-

-

4,247

-

-

-

$

81,577 $ 25,002 $ 324,201 $ 65,563 $

14,398 $ -
14,398 $

429,164 77,330 4,247
510,741

These balances resulted 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.
Interfund transfers:

Transfers Out

Transfers In

General Fund

Nonmajor Enterprise Funds Total

$

250,000

$

250,000

Transfers are used to (1) move revenues from the fund that statute or budget requires to collect them to the fund that the statute or budget requires to expend them, (2) move receipts restricted to debt service from the funds collecting the receipts to the debt service fund as debt service payments become due, and (3) use unrestricted revenues collected in the General Fund and other funds to finance various programs accounted for in other funds in accordance with budgetary authorizations.

46

NOTES TO FINANCIAL STATEMENTS
NOTE 12. RETIREMENT PLANS
Teachers Retirement System Plan Description
All teachers of the District as defined in 47-3-60 of the Official Code of Georgia Annotated (O.C.G.A.) and certain other support personnel as defined by 47-3-63 are provided a pension through the Teachers Retirement System of Georgia ("TRS"). TRS, a cost-sharing multiple-employer defined benefit pension plan, is administered by the TRS Board of Trustees ("TRS Board"). Title 47 of the O.C.G.A. assigns the authority to establish and amend the benefit provisions to the State Legislature. TRS issues a publicly available financial report that can be obtained at http://www.trsga.com/publications.
Benefits Provided
TRS provides service retirement, disability retirement, and death benefits. Normal 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 full-time 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. Employees were required to contribute 6.00% of their annual pay during fiscal year 2018. The school district's contractually required contribution rate for the year ended June 30, 2018 was 16.81% of annual school district payroll. District contributions to TRS were $20,858,843 for the year ended June 30, 2018.
47

NOTES TO FINANCIAL STATEMENTS

NOTE 12. RETIREMENT PLANS (CONTINUED)

Teachers Retirement System (Continued)
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions

At June 30, 2018, 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 amounts 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

$ 191,033,920 96,272

Total

$ 191,130,192

The net pension liability was measured as of June 30, 2017. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2016. An expected total pension liability as of June 30, 2017 was determined using standard roll-forward techniques. The District's proportion of the net pension liability was based on contributions to TRS during the fiscal year ended June 30, 2017. At June 30 2017, the District's proportion was 1.027876%, which was a decrease of 0.0355581% from its proportion measured as of June 30, 2016.

48

NOTES TO FINANCIAL STATEMENTS

NOTE 12. RETIREMENT PLANS (CONTINUED)

Teachers Retirement System (Continued)
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions (Continued)

For the year ended June 30, 2018, the District recognized pension expense of $19,743,168 and revenue of $(48,718) for support provided by the State of Georgia for certain support personnel. At June 30, 2018, the District reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

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

Deferred Outflows of Resources

Deferred Inflows of Resources

$

7,145,845 $

4,187,700

720,942 -

-

1,314,633

20,858,843

18,385,747 -

Total

$

32,192,388 $

20,421,322

District contributions subsequent to the measurement date of $20,858,843, are reported as deferred outflows of resources and will be recognized as a reduction of the net pension liability in the year ended June 30, 2019. 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: 2019 2020 2021 2022 2023

$

(8,290,713)

4,422,657

1,350,011

(6,564,729)

(5,003)

49

NOTES TO FINANCIAL STATEMENTS

NOTE 12. RETIREMENT PLANS (CONTINUED)

Teachers Retirement System (Continued) Actuarial Assumptions

The total pension liability as of June 30, 2017, was determined by an actuarial valuation as of June 30, 2016, using the following actuarial assumptions applied to all periods included in the measurement:

Inflation Salary increases
Investment rate of return

2.75% 3.75% 9.00%, average,
including inflation 7.50%, net of pension plan investment expense, including
inflation

Post-retirement mortality rates were based on the 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) for service retirements and dependent beneficiaries. The RP-2000 Disabled Mortality Table with future mortality improvement projected to 2025 with the Society of Actuaries' projection scale BB (set forward two years for males and four years for females) was used for death after disability retirement. Rates of mortality in active service were based on the RP-2000 Employee Mortality Table projected to 2025 with projection scale BB.

The actuarial assumptions used in the June 30, 2016 valuation were based on the results of an actuarial experience study for the period July 1, 2009 June 30, 2014.

The long-term expected rate of return on pension plan investments was determined using a lognormal 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.

50

NOTES TO FINANCIAL STATEMENTS

NOTE 12. RETIREMENT PLANS (CONTINUED)

Teachers Retirement System (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 mid equities Domestic small equities International developed market equities International emerging market equities
Total

Target allocation (%)
30.00 39.80
3.70 1.50 19.40 5.60 100.00

Long-term expected real rate of return (%)
(0.50) 9.00
12.00 13.50
8.00 12.00

Discount Rate
The discount rate used to measure the total pension liability was 7.50%. 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 7.50%, 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 1-percentage-point lower (6.50%) or 1percentage-point higher (8.50%) than the current rate:

District's proportionate share of the net pension liability

1.00% Decrease
(6.50%)

Current Discount Rate
(7.50%)

1.00% Increase
(8.50%)

$ 313,509,077 $ 191,033,920 $ 90,141,919

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.

51

NOTES TO FINANCIAL STATEMENTS
NOTE 12. RETIREMENT PLANS (CONTINUED)
Public School Employees Retirement System (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. 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/formspubs/formspubs.
Benefits Provided
A member may retire and elect to receive normal monthly retirement benefits after completion of 10 years of creditable service and attainment of age 65. A member may choose to receive reduced benefits after age 60 and upon completion of 10 years of service.
Upon retirement, the member will receive a monthly benefit of $14.75, 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.
Contributions
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.
Individuals 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.
52

NOTES TO FINANCIAL STATEMENTS

NOTE 12. RETIREMENT PLANS (CONTINUED)

Public School Employees Retirement System (PSERS) (Continued)

Pension Liabilities and Pension Expense
At June 30, 2018, 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

$ 2,609,861

The net pension liability was measured as of June 30, 2017. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2016. An expected total pension liability as of June 30, 2017, was determined using standard roll-forward 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, 2017.
For the year ended June 30, 2018, the District recognized pension expense of $525,989 and revenue of $525,989 for support provided by the State of Georgia.
Actuarial Assumptions
The total pension liability was determined by an actuarial valuation as of June 30, 2016, using the following actuarial assumptions, applied to all periods included in the measurement:

Inflation Salary increase Investment rate of return

2.75% N/A
7.50%

Net pension plan investment expense, including inflation

Post-retirement mortality rates were based on the RP-2000 Blue-Collar Mortality Table projected to 2025 with projection scale BB (set forward three years for males and two years for females) for the period after service retirements and for dependent beneficiaries. The RP-2000 Disabled Mortality projected to 2025 with projection scale BB (set forward five years for both males and females) was used for death after disability retirement. There is a margin for future mortality improvement in the tables used by the System. Based on the results of the most recent experience study adopted by the Board on December 17, 2015, the numbers of expected future deaths are 9-11% less than the actual number of deaths that occurred during the study period for healthy retirees and 9-11% less than expected under the selected table for disabled retirees. Rates of mortality in active service were based on the RP-2000 Employee Mortality Table projected to 2025 with projection scale BB.

The actuarial assumptions used in the June 30, 2016 valuation were based on the results of an actuarial experience study for the period July 1, 2009 June 30, 2014.

53

NOTES TO FINANCIAL STATEMENTS

NOTE 12. RETIREMENT PLANS (CONTINUED)

Public School Employees Retirement System (PSERS) (Continued)

Actuarial Assumptions (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 returns, net of pension plan investment expense and 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 asset 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 mid equities Domestic small equities International developed market equities International emerging market equities Alternatives
Total

Target allocation (%)
30.00 37.20
3.40 1.40 17.80 5.20 5.00 100.00

Long-term expected real rate of return (%)*
(0.50) 9.00
12.00 13.50
8.00 12.00 10.50

* Rates shown are net of the 2.75% assumed rate of inflation.

Discount Rate

The discount rate used to measure the total pension liability was 7.50%. 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.

54

NOTES TO FINANCIAL STATEMENTS
NOTE 12. RETIREMENT PLANS (CONTINUED)
Employees Retirement System (ERS)
Plan Description
ERS is a cost-sharing multiple-employer defined benefit pension plan established by the Georgia General Assembly during the 1949 Legislative Session for the purpose of providing retirement allowances for employees of the State of Georgia and its political subdivisions. ERS is directed by a Board of Trustees. Title 47 of the O.C.G.A. assigns the authority to establish and amend the benefit provisions to the State Legislature. ERS issues a publicly available financial report that can be obtained at www.ers.ga.gov/formspubs/formspubs.
Benefits Provided
The ERS Plan supports three benefit tiers: Old Plan, New Plan, and Georgia State Employees' Pension and Savings Plan ("GSEPS"). Employees under the Old Plan started membership prior to July 1, 1982, and are subject to plan provisions in effect prior to July 1, 1982. Members hired on or after July 1, 1982, but prior to January 1, 2009, are New Plan members subject to modified plan provisions. Effective January 1, 2009, new state employees and rehired state employees who did not retain membership rights under the Old or New Plans are members of GSEPS. ERS members hired prior to January 1, 2009, also have the option to irrevocably change their membership to GSEPS.
Under the Old Plan, the New Plan, and GSEPS, a member may retire and receive normal retirement benefits after completion of 10 years of creditable service and attainment of age 60 or 30 years of creditable service regardless of age. Additionally, there are some provisions allowing for early retirement after 25 years of creditable service for members under age 60.
Retirement benefits paid to members are based upon the monthly average of the member's highest 24 consecutive calendar months, multiplied by the number of years of creditable service, multiplied by the applicable benefit factor. Annually, post-retirement cost-of-living adjustments may also be made to members' benefits, provided the members were hired prior to July 1, 2009. The normal retirement pension is payable monthly for life; however, options are available for distribution of the member's monthly pension, at reduced rates, to a designated beneficiary upon the member's death. Death and disability benefits are also available through ERS.
Contributions
Member contributions under the old plan are 4% of annual compensation, up to $4,200, plus 6% of annual compensation in excess of $4,200. Under the Old Plan, the state pays member contributions in excess of 1.25% of annual compensation. Under the Old Plan, these state contributions are included in the members' accounts for refund purposes and are used in the computation of the members' earnable compensation for the purpose of computing retirement benefits.
55

NOTES TO FINANCIAL STATEMENTS

NOTE 12. RETIREMENT PLANS (CONTINUED)

Employees Retirement System (ERS) (Continued)

Contributions (Continued)

Member contributions under the New Plan and GSEPS are 1.25% of annual compensation. The District's contractually required contribution rate, actuarially determined annually, for the year ended June 30, 2018 was 24.69% of annual covered payroll for Old and New Plan members and 21.69% for GSEPS members. The District's contributions to ERS totaled $72,895 for the year ended June 30, 2018. 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.

Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions

At June 30, 2018, the District reported a liability for its proportionate share of the net pension liability in the amount of $401,138. The net pension liability was measured as of June 30, 2017. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2016. An expected total pension liability as of June 30, 2017, was determined using standard roll-forward techniques. The District's proportion of the net pension liability was based on contributions to ERS during the fiscal year ended June 30, 2017. At June 30, 2017, the Employer's proportion was 0.009877%, which was a decrease of 0.003509% from its proportion measured as of June 30, 2016.

For the year ended June 30, 2018, the District recognized pension expense of $(17,259). At June 30, 2017, the District reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Differences between expected and actual experience

Deferred Outflows of Resources

$

4,395 $

Deferred Inflows of Resources
3

Changes of assumptions

Net difference between projected and actual earnings on pension plan investments
Changes in proportion and differences between Employer contributions and proportionate share of contributions
Employer contributions subsequent to the measurement date

Total

$

913 -
72,895 78,203 $

999
94,826 -
95,828

56

NOTES TO FINANCIAL STATEMENTS

NOTE 12. RETIREMENT PLANS (CONTINUED)

Employees Retirement System (ERS) (Continued)

Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions (Continued)

District contributions subsequent to the measurement date of $72,895 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, 2019. 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: 2019 2020 2021 2022

$

(65,361)

(18,288)

4,503

(11,374)

Actuarial Assumptions

The total pension liability as of June 30, 2017, was determined by an actuarial valuation as of June 30, 2016 using the following actuarial assumptions, applied to all periods included in the measurement:

Inflation rate Salary increases Investment rate of return

2.75% 3.25% - 7.00%, average, including inflation 7.50%, Net of pension plan investment
expense, including inflation

Post-retirement mortality rates were based on the RP-2000 Combined Mortality Table with future mortality improvement projected to 2025 with the Society of Actuaries' projection scale BB and set forward two years for both males and females for service retirements and dependent beneficiaries. The RP-2000 Disabled Mortality Table with future mortality improvement projected to 2025 with Society of Actuaries' projection scale BB and set back seven years for males and set forward three years for females was used for death after disability retirement. There is a margin for future mortality improvement in the tables used by the System. Based on the results of the most recent experience study adopted by the Board on December 17, 2015, the numbers of expected future deaths are 9-12% less than the actual number of deaths that occurred during the study period for service retirements and beneficiaries and for disability retirements. Rates of mortality in active service were based on the RP-2000 Employee Mortality Table projected to 2025 with projection scale BB.

The actuarial assumptions used in the June 30, 2016 valuation were based on the results of an actuarial experience study for the period July 1, 2009 June 30, 2014.

57

NOTES TO FINANCIAL STATEMENTS

NOTE 12. RETIREMENT PLANS (CONTINUED)

Employees Retirement System (ERS) (Continued)

Actuarial Assumptions (Continued)

The long-term expected rate of return on pension plan investments was determined using a lognormal 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
Fixed income Domestic large equities Domestic mid equities Domestic small equities International developed market equities International emerging market equities Alternatives
Total

Target allocation (%)
30.00 37.20
3.40 1.40 17.80 5.20 5.00 100.00

Long-term expected real rate of return (%)*
(0.50) 9.00
12.00 13.50
8.00 12.00 10.50

* Rates shown are net of the 2.75% assumed rate of inflation.

Discount Rate

The discount rate used to measure the total pension liability was 7.50%. 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.

58

NOTES TO FINANCIAL STATEMENTS

NOTE 12. RETIREMENT PLANS (CONTINUED)

Employees Retirement System (ERS) (Continued)

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 7.50%, 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 1-percentage-point lower (6.50%) or 1percentage-point higher (8.50%) than the current rate:

District's proportionate share of the net pension liability

1.00% Decrease (6.50%)

Current Discount Rate
(7.50%)

1.00% Increase (8.50%)

$ 566,186 $

401,138 $ 260,347

Pension Plan Fiduciary Net Position

Detailed information about the pension plan's fiduciary net position is available in the separately issued ERS financial report which is publicly available at www.ers.ga.gov/formspubs/formspubs.

59

NOTES TO FINANCIAL STATEMENTS
NOTE 13. OTHER POST-EMPLOYMENT BENEFITS
Plan Description
The District participates in the State of Georgia School Employees Post-employment Benefit Fund (the "School OPEB Fund") which is an other post-employment benefit ("OPEB") plan administered by the State of Georgia Department of Community Health ("DCH"). Certified teachers and non-certified employees of the Board 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 post-employment 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 Comprehensive Annual Financial Report which is publicly available and can be obtained at https://sao.georgia.gov/comprehensive-annual-financialreports.
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 DCH Board, the School OPEB Fund is substantially funded on a pay-as-yougo 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 Board were $7,293,321 for the year ended June 30, 2018. Active employees are not required to contribute to the School OPEB Fund.
60

NOTES TO FINANCIAL STATEMENTS

NOTE 13. OTHER POST-EMPLOYMENT BENEFITS (CONTINUED)

OPEB Liabilities, OPEB Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB
Effective July 1, 2017, the District implemented the provisions of GASB Statement No. 75, Accounting and Financial Reporting for Post-employment Benefits Other Than Pensions, which significantly changed the District's accounting for OPEB amounts. The information disclosed in this note is presented in accordance with this new standard.

At June 30, 2018, the District reported a liability of $195,125,560 for its proportionate share of the net OPEB liability. The net OPEB liability was measured as of June 30, 2017. The total OPEB liability used to calculate the net OPEB liability was based on an actuarial valuation as of June 30, 2016. An expected total OPEB liability as of June 30, 2017 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, 2017. At June 30, 2017, the District's proportion was 1.388798%, which was a decrease of (0.030790)% from its proportion measured as of June 30, 2016.

For the year ended June 30, 2018, the District recognized OPEB expense of $10,648,669. At June 30, 2018, the District reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:

Deferred Outflows of Resources

Deferred Inflows of Resources

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

$

-

$ 14,858,314

57,071

-

8,630,352 7,293,321

12,497,914 -

Total

$ 15,980,744

$ 27,356,228

61

NOTES TO FINANCIAL STATEMENTS

NOTE 13. OTHER POST-EMPLOYMENT BENEFITS (CONTINUED)

OPEB Liabilities, OPEB Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB (Continued)

District contributions subsequent to the measurement date of $7,293,321 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, 2019. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows:

Year ending June 30: 2019 2020 2021 2022 2023 2024

$ (3,353,695) (3,353,695) (3,353,695) (3,353,695) (3,367,963) (1,886,062)

Actuarial Assumptions

The total OPEB liability as of June 30, 2017, was determined by an actuarial valuation as of June 30, 2016, 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, 2017:

Inflation Salary increases
Long-term expected rate of return
Healthcare cost trend rate: Pre-Medicare Eligible Medicare Eligible
Ultimate trend rate Pre-Medicare Eligible Medicare Eligible
Year of Ultimate trend rate

2.75% TRS - 3.25 9.00%, including inflation PSERS N/A 3.88%, compounded annually, net of investment expense, and including inflation
7.75% 5.75%
5.00% 5.00% 2022

62

NOTES TO FINANCIAL STATEMENTS

NOTE 13.

OTHER POST-EMPLOYMENT BENEFITS (CONTINUED)
Actuarial Assumptions (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: The RP-2000 White Collar Mortality Table projected to 2025 with projection scale BB (set forward one year for males) was used for death after service retirement and beneficiaries. The RP-2000 Disabled Mortality Table projected to 2025 with projection scale BB (set forward two years for males and four years for females) was used for death after disability retirement.
For PSERS Members: The RP-2000 Blue Collar Mortality Table projected to 2025 with projection scale BB (set forward three years for males and two years for females) was used for the period after service retirement and for beneficiaries of deceased members. The RP2000 Disabled Mortality Table projected to 2025 with projection scale BB (set forward five years for both males and females) was used for the period after disability retirement.

The actuarial assumptions used in the June 30, 2016 valuation were based on the results of an actuarial experience study for the pension system, which covered the five-year period ended June 30, 2014.

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.

Additionally, there was a change that affected measurement of the total OPEB liability since the prior measurement date. The methodology used to determine employee and retiree participation in the School OPEB Fund is based on their current or last employer payroll location. Current and former employees of public school districts, libraries, regional educational service agencies, and community colleges are allocated to the School OPEB Fund irrespective of retirement system affiliation.

63

NOTES TO FINANCIAL STATEMENTS

NOTE 13.

OTHER POST-EMPLOYMENT BENEFITS (CONTINUED)
Actuarial Assumptions (Continued)

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:

Asset Class Local Government Investment Pool

Target Allocation 100%

Long-Term Expected Real Rate of Return
3.88%

Discount rate
The discount rate has changed since the prior measurement date from 3.07% to 3.58%. In order to measure the total OPEB liability for the School OPEB Fund, a single equivalent interest rate of 3.58% was used as the discount rate. This is comprised mainly of the yield or index rate for 20 year taxexempt general obligation municipal bonds with an average rating of AA or higher (3.56% per the Bond Buyer Index). The projection of cash flows used to determine the discount rate assumed that the current sharing of costs between the employer and the member will continue and that contributions from the employer 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 2115. Based on these assumptions, the OPEB plan's fiduciary net position was projected to be available to make OPEB payments for inactive employees through year 2029. Therefore, the long-term expected rate of return on OPEB plan investments was applied to discount projected benefit payments until 2029. The discount rate of 3.58% was the single rate which, when applied to all projected benefit payments, resulted in the same present value of benefit payments when the above discussed calculations are combined. The calculated discount rate of 3.58% was applied to all periods of projected benefit payments to determine the total OPEB liability.

64

NOTES TO FINANCIAL STATEMENTS

NOTE 13. OTHER POST-EMPLOYMENT BENEFITS (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 3.58%, 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 1-percentage-point lower (2.58%) or 1percentage-point higher (4.58%) than the current rate:

District's proportionate share of the net OPEB liability

1% Decrease
(2.58%)

Current Discount Rate
(3.58%)

1% Increase (4.58%)

$ 231,676,650 $ 195,125,560 $ 166,279,347

Sensitivity of the District's proportionate share of the net OPEB liability to changes in the healthcare cost trend rate:
The following presents the District's proportionate share of the net OPEB liability calculated using the healthcare cost trend rates of 5.00% to 7.75%, 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 1percentage-point lower (4.00% to 6.75%) or 1-percentage-point higher (6.00% to 8.75%) than the current rates:

District's proportionate share of the net OPEB liability

1% Decrease (4.00% to 6.75%)

Healthcare Cost Trend Rate (5.00% to 7.75%)

1% Increase (6.00% to 8.75%)

$ 161,736,859 $ 195,125,560 $ 238,597,598

NOTE 14. DEFERRED COMPENSATION PLAN

The District offers its employees a tax deferred annuity plan created in accordance with Internal Revenue Code Section 403b. The plan, available to all District employees, permits them to defer a portion of their salary until future years. Participation in the plan is optional.

It is the opinion of the District's legal counsel that the District has no liability for losses under the plan, but does have the duty of due care that would be required of an ordinary prudent investor. The District believes these assets are not available to satisfy the claims of general creditors in the future.

65

NOTES TO FINANCIAL STATEMENTS

NOTE 15. RISK MANAGEMENT

The District is exposed to various risks of loss for claims associated with torts; theft of, damage to and destruction of assets; errors and omissions; natural disaster; workers' compensation; unemployment compensation; and dental benefits.

The District is self-insured for workers' compensation and unemployment compensation. Premiums are paid into internal service funds by user funds and are available to pay claims, claim reserves, and administrative costs of the program. These interfund premiums are recognized as revenue in the internal service funds. The premiums are calculated on the basis of the percentage of that fund's payroll to total payroll. Liabilities are reported when it is probable that a loss has been incurred and the amount can be reasonably estimated including amounts of claims incurred, but not yet reported. An excess coverage insurance policy covers individual claims in excess of $500,000 loss per occurrence, up to the statutory limit. The District has not experienced any significant reduction in insurance coverage from the previous years nor has it paid any settlements in excess of insurance coverage in the past three years.

Changes in the balances of claims liabilities for the past two fiscal years for the funds for which the District is self-insured are as follows:

Workers' Compensation Fund
Unpaid claims, beginning of fiscal year Incurred claims and changes in estimates Claim payments Unpaid claims, end of fiscal year

June 30, 2018
$ 1,645,836 1,576,715 (2,137,848)
$ 1,084,703

June 30, 2017
$ 1,715,027 2,200,593 (2,269,784)
$ 1,645,836

As of June 30, 2018, $484,431 of the unpaid workers' compensation claims are due within one year.

Unemployment Compensation Fund
Unpaid claims, beginning of fiscal year Incurred claims and changes in estimates Claim payments Unpaid claims, end of fiscal year

June 30, 2018

$

-

27,440

(27,440)

$

-

June 30, 2017

$

-

58,062

(58,062)

$

-

66

NOTES TO FINANCIAL STATEMENTS
NOTE 16. COMMITMENTS AND CONTINGENCIES
The District is involved in a number of legal matters which either have or could result in litigation. Although the outcome of these lawsuits is not presently determinable, in the opinion of the District's legal counsel, the resolution of these matters will not have a material adverse effect on the financial condition of the District. 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 grants, refunds of any money received may be required and the collectability of any related receivable at June 30, 2018, 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; therefore, no provision has been recorded in the accompanying basic financial statements for such contingencies. The District is committed under outstanding construction contracts in the capital projects funds in the amount of $51,348,245. Construction contracts include new school construction and expansion and renovation of existing facilities.
NOTE 17. TAX ABATEMENTS
For the year ended June 30, 2018, the District's tax revenues were reduced by $6,459,179 under agreements entered into by the Macon-Bibb County Industrial Authority and the Macon-Bibb County Urban Development Authority. Under these agreements, taxes on both real and personal property are reduced based on investments made by the corporation to whom the incentives were offered. In order to qualify, certain eligibility requirements must be met and are based on the economic development goals of each project. Generally, a project will create employment opportunities, promote trade and commerce in the County, and increase the tax base. If a company fails to meet the criteria established in the agreement, recovery payments may apply.
67

NOTES TO FINANCIAL STATEMENTS

NOTE 18. CHANGE IN ACCOUNTING PRINCIPLE
The District implemented GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions, through which accounting for OPEB plans and the related disclosure requirements were modified. A restatement to the July 1, 2017 beginning net position for the governmental and business-type activities, the School Food Service Fund and Wellness Center Fund, was made to recognize this change in accounting principle. The resulting adjustments are as follows:

Net position, Governmental Activities, as previously reported Deferred outflows - OPEB Net OPEB liability Net position, Governmental Activities, as restated

$ 318,432,852 6,649,622
(193,196,445) $ 131,886,029

Net position, Business-type Activities, as previously reported Deferred outflows - OPEB Net OPEB liability Net position, Business-type Activities, as restated

$

18,192,971

591,681

(17,190,554)

$

1,594,098

Net position, School Food Service Fund, as previously reported Deferred outflows - OPEB Net OPEB liability Net position, School Food Service Fund, as restated

$

18,405,349

588,101

(17,086,540)

$

1,906,910

Net position, Wellness Center Fund, as previously reported Deferred outflows - OPEB Net OPEB liability Net position, Wellness Center Fund, as restated

$

(128,676)

3,580

(104,014)

$

(229,110)

68

bibb county school district
required supplementary information

BIBB COUNTY SCHOOL DISTRICT
REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
TEACHERS RETIREMENT SYSTEM OF GEORGIA FOR THE YEAR ENDED JUNE 30, 2018

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 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

2018 1.027876%

2017 1.063457%

2016 1.138128%

2015 1.173353%

$ 191,033,920 $ 219,403,037 $ 173,268,686 $ 148,237,675

96,272

134,515

177,055

233,849

$ 191,130,192 $ 219,537,552 $ 173,445,741 $ 148,471,524 $ 118,020,491 $ 116,609,215 $ 122,369,574 $ 119,705,334

161.87% 79.33%

188.15% 76.06%

141.59% 81.44%

123.84% 84.03%

Note: Schedule is intended to show information for the last 10 fiscal years. Additional years will be displayed as they become available.

69

BIBB COUNTY SCHOOL DISTRICT
REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF CONTRIBUTIONS
TEACHERS RETIREMENT SYSTEM OF GEORGIA FOR THE YEAR ENDED JUNE 30, 2018

2018

2017

2016

2015

Contractually required contributions

$ 20,858,843 $ 16,841,524 $ 16,640,135 $ 16,091,599

Contributions in relation to the contractually required

20,858,843

16,841,524

16,640,135

16,091,599

Contribution deficiency (excess)

$

- $

- $

- $

-

District's covered payroll
Contributions as a percentage of covered payroll

$ 124,085,919 $ 118,020,491 $ 116,609,215 $ 122,369,574

16.81%

14.27%

14.27%

13.15%

Note: Schedule is intended to show information for the last 10 fiscal years. Additional years will be displayed as they become available.

70

BIBB COUNTY SCHOOL DISTRICT
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION TEACHERS RETIREMENT SYSTEM OF GEORGIA FOR THE YEAR ENDED JUNE 30, 2018
Changes of Assumptions In 2010 and later, the expectation of retired life mortality was changed to the RP-2000 Mortality Tables rather than the 1994 Group Annuity Mortality Table, which was used prior to 2010. In 2010, rates of withdrawal, retirement, disability and mortality were adjusted to more closely reflect actual experience. In 2010, assumed rates of salary increases were adjusted to more closely reflect actual and anticipated experience. 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 the rates of mortality, retirement, disability, withdrawal, and salary increases. The expectation of retired life mortality was changed to the 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).
71

BIBB COUNTY SCHOOL DISTRICT
REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
PUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM FOR THE YEAR ENDED JUNE 30, 2018

Districts'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 position liability associated with the District

2018 0.00%

2017 0.00%

2016 0.00%

2015 0.00%

$

- $

- $

- $

-

2,609,861

3,330,650

2,201,966

1,764,249

Total

$ 2,609,861 $ 3,330,650 $ 2,201,966 $ 1,764,249

District's covered payroll

$ 4,995,782 $ 4,398,447 $ 3,895,721 $ 7,554,145

District's proportionate share of the net pension liability as a percentage of its covered payroll

N/A

N/A

N/A

N/A

Plan fiduciary net position as a percentage of the total pension

85.69%

81.00%

87.00%

88.29%

Note: Schedule is intended to show information for the last 10 fiscal years. Additional years will be displayed as they become available.

72

BIBB COUNTY SCHOOL DISTRICT
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION PUBLIC SCHOOL EMPLOYEES RETIREMENT SYSTEM FOR THE YEAR ENDED JUNE 30, 2018
Changes of Assumptions In 2010 and later, the expectation of retired life mortality was changed to the RP-2000 Mortality Tables rather than the 1994 Group Annuity Mortality Table, which was used prior to 2010. In 2010, rates of withdrawal, retirement, disability and mortality were adjusted to more closely reflect actual experience. In 2010, assumed rates of salary increases were adjusted to more closely reflect actual experience. 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 the rates of mortality, retirement, and withdrawal. The expectation of retired life mortality was changed to the RP-2000 Blue Collar Mortality Table with future mortality improvement projected to 2025 with the Society of Actuaries' projection scale BB (set forward three years for males and two years for females).
73

BIBB COUNTY SCHOOL DISTRICT
REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF THE NET PENSION LIABILITY
EMPLOYEES' RETIREMENT SYSTEM FOR THE YEAR ENDED JUNE 30, 2018

District's proportion of the net pension liability
District's proportionate share of the net pension liability
District's covered payroll
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

2018 0.009877%

2017 0.013386%

2016 0.014033%

2015 0.019619%

$

401,138 $

633,214 $

568,533 $

735,834

$

241,835 $

311,239 $

325,087 $

436,547

165.87% 76.33%

203.45% 72.34%

174.89% 76.20%

168.56% 77.99%

Note: Schedule is intended to show information for the last 10 fiscal years. Additional years will be displayed as they become available.

74

BIBB COUNTY SCHOOL DISTRICT
REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF CONTRIBUTIONS
EMPLOYEES' RETIREMENT SYSTEM FOR THE YEAR ENDED JUNE 30, 2018

2018

2017

2016

2015

Contractually required contributions $

Contributions in relation to the contractually required contribution

Contribution deficiency (excess)

$

72,895 $ 72,895
- $

59,709 $ 59,709
- $

62,565 $ 62,565
- $

71,389 71,389
-

District's covered payroll
Contributions as a percentage of covered payroll

$

295,241 $

241,835 $

253,095 $

325,087

24.69%

24.69%

24.72%

21.96%

Note: Schedule is intended to show information for the last 10 fiscal years. Additional years will be displayed as they become available.

75

BIBB COUNTY SCHOOL DISTRICT
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION EMPLOYEES' RETIREMENT SYSTEM FOR THE YEAR ENDED JUNE 30, 2018
Changes of Benefit Terms A new benefit tier was added for members joining the System on and after July 1, 2009. A one-time 3% payment was granted to certain retirees and beneficiaries effective July 2016. 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 the rates of mortality, retirement, withdrawal, and salary increases.
76

BIBB COUNTY SCHOOL DISTRICT
REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF PROPORTIONATE SHARE OF THE NET OPEB LIABILITY
SCHOOL OPEB FUND FOR THE YEAR ENDED JUNE 30, 2018

2018

District's proportion of the net OPEB liability

1.388798%

District's proportionate share of the net OPEB liability

$

195,125,560

District's covered-employee payroll

$

103,879,397

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

187.84%

Plan fiduciary net position as a percentage of the total OPEB liability

1.61%

Note: Schedule is intended to show information for the last 10 fiscal years. Additional years will be displayed as they become available.

77

BIBB COUNTY SCHOOL DISTRICT
REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF CONTRIBUTIONS SCHOOL OPEB FUND
FOR THE YEAR ENDED JUNE 30, 2018

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

2018

$

7,293,321

7,293,321

$

-

$

98,314,469

7.42%

Note: Schedule is intended to show information for the last 10 fiscal years. Additional years will be displayed as they b

78

BIBB COUNTY SCHOOL DISTRICT
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION SCHOOL OPEB FUND
FOR THE YEAR ENDED JUNE 30, 2018
Changes of Benefit Terms In the June 30, 2010 actuarial valuation, there was a change of benefit terms to require Medicareeligible recipients to enroll in a Medicare Advantage plan to receive the State subsidy. Changes of Assumptions In the revised June 30, 2017 actuarial valuation, there was a change relating to employee allocation. Employees were previously allocated based on their Retirement System membership, and currently employees are allocated based on their current employer payroll location. In the June 30, 2015 actuarial valuation, decremental and underlying inflation assumptions were changed to reflect the Retirement Systems' experience studies. In the June 30, 2012 actuarial valuation, a data audit was performed and data collection procedures and assumptions were changed.
79

bibb county school district
combining fund statements & schedules

BIBB COUNTY SCHOOL DISTRICT
NONMAJOR GOVERNMENTAL FUNDS

CAPITAL IMPROVEMENTS SCHOOL DISCRETIONARY

To account for local major capital expenditures funded from local sources.
To account for the portion of the school activity resources used for general governmental expenditures.

BIBB COUNTY SCHOOL DISTRICT
COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS
JUNE 30, 2018

ASSETS
Cash Investments
Total assets
LIABILITIES
Accounts payable Due to other funds Accrued payroll and payroll withholdings
Total liabilities
FUND BALANCES
Committed for: Capital projects Student activities Total fund balances
Total liabilities and fund balances

Capital Projects Capital Improvements

Special Revenue School Discretionary

Total Nonmajor Governmental
Funds

$

832,839 $

1,335,263

533,469 $ -

1,366,308 1,335,263

$ 2,168,102 $

533,469 $ 2,701,571

$

119,239 $

-

-

119,239

261 $ 14,398
96
14,755

119,500 14,398 96
133,994

$ 2,048,863 $ -
2,048,863

- $ 518,714 518,714

2,048,863 518,714
2,567,577

$ 2,168,102 $

533,469 $ 2,701,571

80

BIBB COUNTY SCHOOL DISTRICT
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
NONMAJOR GOVERNMENTAL FUNDS FOR THE FISCAL YEAR ENDED JUNE 30, 2018

REVENUES Local sources Interest earned Total revenues
EXPENDITURES Current:
Instruction Maintenance and operations Student transportation Capital outlay
Total expenditures
Net change in fund balances
FUND BALANCES, beginning of year
FUND BALANCES, end of year

Capital Projects Capital Improvements

Special Revenue School Discretionary

Total Nonmajor Governmental
Funds

$

750,000 $ 1,062,880 $ 1,812,880

18,043

-

18,043

768,043

1,062,880

1,830,923

245,783
93,503 339,286

969,575 864
52,448 -
1,022,887

969,575 246,647
52,448 93,503 1,362,173

428,757

39,993

468,750

1,620,106

478,721

2,098,827

$ 2,048,863 $

518,714 $ 2,567,577

81

BIBB COUNTY SCHOOL DISTRICT
NONMAJOR ENTERPRISE FUNDS

STADIUMS
WELLNESS CENTER HUTCHINGS ACADEMY

To account for the operations of Henderson Stadium and the Ed Defore Sports Complex.
To account for the operation of the Wellness Center.
To account for the operations of the various business enterprise ventures of the students in the industry pathway programs at the Hutchings College and Career Academy.

BIBB COUNTY SCHOOL DISTRICT
SCHEDULE OF EXPENDITURES OF SPECIAL PURPOSE LOCAL OPTION SALES TAX PROCEEDS - 2011 ISSUE
FOR THE FISCAL YEAR ENDED JUNE 30, 2018

Original
Estimated Cost1

Current
Estimated Cost5

Prior Years2,3

Current Year4

Total

Acquiring, constructing, and equipping five new elementary schools
Renovating, extending, repairing, and equipping existing school facilities
Acquiring, constructing, and equipping various athletic facilities

$ 74,529,000 $ 50,084,922 $ 50,080,990 $

3,932 $ 50,084,922

33,999,000

39,453,304

38,713,844

342,080

39,055,924

13,375,000

16,020,601

13,585,414

4,493

13,589,907

Constructing and equipping a replacement facility for maintenance and custodial operations
Providing controlled access entrances at existing schools and improving school site safety and traffic flow throughout the District
Purchasing new technology, fine arts equipment, athletic equipment, and safety and security systems throughout the District
Purchasing school buses, vehicles, and maintenance, custodial, and transportation equipment
Planning for new District site acquisition, site development and construction, and paying expenses incident to accomplishing the foregoing projects2

6,577,000 5,949,000 20,000,000 8,500,000
13,200,000

5,481,127

5,029,650

11,080,177

8,701,708

29,511,537

27,473,208

10,347,810

8,164,263

22,836,381

22,836,381

448,615 1,606,779
495,176 1,675,952
-

5,478,265 10,308,487 27,968,384
9,840,215
22,836,381

$ 176,129,000 $ 184,815,859 $ 174,585,458 $ 4,577,027 $ 179,162,485

1 The original resolution calling for the imposition of the Local Option Sales Tax includes an amount not to exceed $198,500,000. The original amount budgeted is less than the not to exceed amount as a conservative measure not to exceed actual collected. Adjustments to the budget may be made as collections are received. Tax collections began in January 2011.
2 Included in the expenditures shown above, the District has incurred interest to provide advanced funding for the above projects. Prior year interest was $3,403,244.
3 Included in the expenditures shown above are expenditures which were funded by grant funds in the amount of $15,943,889 and E-rate funds of $3,915,794.
4 Included in the expenditures shown above are expenditures which were funded by grant funds in the amount of $77,340
5 Included in estimated costs are bond expenditures.

82

BIBB COUNTY SCHOOL DISTRICT
SCHEDULE OF EXPENDITURES OF SPECIAL PURPOSE LOCAL OPTION SALES TAX PROCEEDS - 2016 ISSUE
FOR THE FISCAL YEAR ENDED JUNE 30, 2018

Original Estimated
Cost1

Current Estimated
Cost

Acquiring, constructing, and equipping one new elementary school
Consolidation of Appling Middle School and Northeast High School to a shared campus
Renovating, extending, repairing, and equipping existing school facilities
Acquiring, constructing, and equipping various athletic facilities

$ 19,000,000 $ 15,000,000 $

45,000,000 33,980,081
1,000,000

54,245,602 28,734,479
1,000,000

Constructing and equipping a replacement facility for campus policy and transportation
Providing controlled access entrances and updating security technology throughout the District
Constructing, furnishing, and equipping auditoriums, including new auditioriums at Rutland High School and Westside High School
Capital outlay projects for educational purposes for us by approved charter school operators
Purchasing new technology, fine arts equipment, athletic equipment, and safety and security systems throughout the District
Purchasing school buses, vehicles, and maintenance, custodial, and transportation equipment
Planning for new District site acquisition, demolition of surplus property, site development and construction, and paying expenses incident to accomplishing the foregoing projects

5,000,000 4,000,000 18,000,000 4,776,342 22,635,720 4,000,000
8,819,251

6,844,000 2,156,000 18,000,000 1,522,342 22,635,720 4,000,000
9,439,515

$ 166,211,394 $ 163,577,658 $

Prior Years2

Current Year

- $

- $

470,793 3,480,645
34,677

4,519,676 5,503,412
481,358

139,140 351,371

4,866,116 434,642

37,724 359,138 18,555,873 107,746

45,000 541,959 825,198
17,146

529,653 24,066,760 $

4,615,596 21,850,103 $

Total -
4,990,469 8,984,057
516,035 5,005,256
786,013
82,724 901,097 19,381,071 124,892
5,145,249 45,916,863

1
The original resolution calling for the imposition of the Local Option Sales Tax includes an amount not to exceed $185,000,000. The original amount budgeted is less than the not to exceed amount as a conservative measure not to exceed actual collected. Adjustments to the budget may be made as collections are received. Tax collections began in January 2016. 2 Included in the expenditures shown above are expenditures which were funded by grant funds in the amount of $216,527.

Total expenditures, 2011 Issue Total expenditures, 2016 Issue Total expenditures SPLOST Fund $

4,577,027 21,850,103 26,427,130

83

BIBB COUNTY SCHOOL DISTRICT
COMBINING STATEMENT OF NET POSITION NONMAJOR ENTERPRISE FUNDS JUNE 30, 2018

CURRENT ASSETS Cash Investments

ASSETS

Total current assets
CAPITAL ASSETS Furniture and equipment
Total depreciable assets Less accumulated depreciation
Total capital assets

Total assets
DEFERRED OUTFLOWS OF RESOURCES Pensions Other post-employment benefits

Total deferred outflows of resources

LIABILITIES
CURRENT LIABILITIES Accounts payable Due to other funds Accrued payroll and payroll withholdings Unearned revenue

Total current liabilities

NONCURRENT LIABILITIES Net pension liability Net other post-employment benefit liability

Total noncurrent liabilities

Total liabilities

DEFERRED INFLOWS OF RESOURCES Pensions Other post-employment benefits

Total deferred inflows of resources

NET POSITION (DEFICIT) Investment in capital assets Unrestricted
Total net position (deficit)

Stadiums

Wellness Center

Hutchings Academy

Total Nonmajor Enterprise Funds

$

83,069 $

-

83,069

75,426
75,426

$ 20,291 $ -
20,291

103,360 75,426
178,786

63,396 63,396 (54,125)
9,271
92,340

15,129 15,129 (9,702)
5,427
80,853

-
20,291

78,525 78,525 (63,827) 14,698
193,484

-

31,157

-

7,901

-

39,058

-

31,157

-

7,901

-

39,058

7,743 42,863
-
50,606

22,700
4,861 50
27,611

-

7,743

65,563

-

4,861

-

50

-

78,217

-
-
50,606

184,893 96,469
281,362
308,973

-

184,893

96,469

-

281,362

-

359,579

-

19,765

-

13,525

-

33,290

-

19,765

-

13,525

-

33,290

9,271

5,427

-

32,463

(227,779)

20,291

$

41,734 $ (222,352) $

20,291 $

84

14,698 (175,025) (160,327)

BIBB COUNTY SCHOOL DISTRICT
COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITION NONMAJOR ENTERPRISE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2018

OPERATING REVENUES Local sources Total operating revenues

Stadiums

Wellness Center

Hutchings Academy

Total Nonmajor Enterprise Funds

$

- $

31,929 $

39,340 $

71,269

-

31,929

39,340

71,269

OPERATING EXPENSES Enterprise operations Maintenance and operations Depreciation Total operating expenses

204,959 19,112 1,605
225,676

23,724 -
1,447 25,171

32,959 -
32,959

261,642 19,112 3,052
283,806

Operating income (loss) before transfers

(225,676)

6,758

6,381

(212,537)

Transfers in

250,000

-

-

250,000

Change in net position

24,324

6,758

6,381

37,463

NET POSITION (DEFICIT), beginning of year, as restated

17,410

(229,110)

13,910

(197,790)

NET POSITION (DEFICIT), end of year

$

41,734 $ (222,352) $

20,291 $

(160,327)

85

BIBB COUNTY SCHOOL DISTRICT
COMBINING STATEMENT OF CASH FLOWS NONMAJOR ENTERPRISE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2018

CASH FLOWS FROM OPERATING ACTIVITIES Receipts from local sources Payments to suppliers Payments to employees Payments on behalf of employees

Stadiums

Wellness Center

Hutchings Academy

Total Nonmajor Enterprise Funds

$

- $

(134,984)

(45,978)

(4,207)

31,929 $ 21,324 (33,992) (18,242)

39,340 $ (30,496)
-

71,269 (144,156)
(79,970) (22,449)

Net cash provided by (used in) operating activities

(185,169)

1,019

8,844

(175,306)

CASH FLOWS FROM NON-CAPITAL FINANCING ACTIVITIES Transfers from other funds

250,000

-

-

250,000

Net cash provided by non-capital financing activities

250,000

-

-

250,000

Net increase in cash and cash equivalents

64,831

1,019

8,844

74,694

Cash and cash equivalents, beginning of year Cash and cash equivalents, end of year

18,238

$

83,069 $

74,407 75,426 $

11,447 20,291 $

104,092 178,786

Classified as: Cash Investments

$

83,069 $

-

$

83,069 $

- $ 75,426 75,426 $

20,291 $ -
20,291 $

103,360 75,426
178,786

(Continued)

86

BIBB COUNTY SCHOOL DISTRICT
COMBINING STATEMENT OF CASH FLOWS NONMAJOR ENTERPRISE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2018

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: Depreciation Decrease in prepaid items Decrease in accounts payable Increase in due to other funds Decrease in payroll related liabilities

Stadiums

Wellness Center

$ (225,676) $

6,758

1,605 -
(3,961) 42,863
-

1,447 -
22,700 (29,886)

Hutchings Academy

Total Nonmajor Enterprise Funds

$

6,381 $

(212,537)

2,463
-

3,052 2,463 (3,961) 65,563 (29,886)

Net cash provided by (used in) operating activities

$ (185,169) $

1,019 $

8,844 $

(175,306)

87

BIBB COUNTY SCHOOL DISTRICT
INTERNAL SERVICE FUNDS

WORKERS' COMPENSATION
UNEMPLOYMENT COMPENSATION

To account for the self-insured workers' compensation claims activity of the District.
To account for the provision of unemployment benefits of the employees of the District.

BIBB COUNTY SCHOOL DISTRICT
COMBINING STATEMENT OF NET POSITION INTERNAL SERVICE FUNDS JUNE 30, 2018

ASSETS
Cash Accounts receivable
Total assets
LIABILITIES
CURRENT LIABILITIES Accounts payable Accrued claims expense, current portion
Total current liabilities
NONCURRENT LIABILITIES Accrued claims expense
Total liabilities

Unrestricted

NET POSITION

Total net position

Workers' Compensation

Unemployment Compensation

Total Internal Service Funds

$ 1,468,561 $ 1,143
1,469,704

464,375 $ 1,932,936

-

1,143

464,375

1,934,079

115,840 484,431 600,271
484,432 1,084,703

-

115,840

-

484,431

-

600,271

-

484,432

-

1,084,703

385,001

464,375

849,376

$

385,001 $

464,375 $

849,376

88

BIBB COUNTY SCHOOL DISTRICT
COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITION INTERNAL SERVICE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2018

OPERATING REVENUES Local sources Total operating revenues
OPERATING EXPENSES Central support services Maintenance and operations Total operating expenses
Change in net position
NET POSITION, beginning of year
NET POSITION, end of year

Workers' Compensation

Unemployment Compensation

Total Internal Service Funds

$ 1,961,716 $ 1,961,716

256,528 $ 2,218,244

256,528

2,218,244

1,576,715 1,576,715

385,001

-

$

385,001 $

27,440 -
27,440

27,440 1,576,715 1,604,155

229,088

614,089

235,287

235,287

464,375 $

849,376

89

BIBB COUNTY SCHOOL DISTRICT
COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2018

CASH FLOWS FROM OPERATING ACTIVITIES Receipts from interfund services provided Payments for interfund services used
Net cash provided by (used in) operating activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents, beginning of year
Cash and cash equivalents, end of year
Classified as: Cash
Reconciliation of operating income to net cash provided by (used in) operating activities: Operating income Adjustments to reconcile operating income to net cash provided by (used in) operating activities: Increase in accounts receivable Decrease in accounts payable Decrease in accrued claims expense
Net cash provided by operating activities

Workers' Compensation

Unemployment Compensation

Total Internal Service Funds

$ 1,960,754 $ (2,137,848)
(177,094)

256,528 $ 2,217,282

(39,194)

(2,177,042)

217,334

40,240

(177,094) 1,645,655 $ 1,468,561 $

217,334

40,240

247,041

1,892,696

464,375 $ 1,932,936

1,468,561 $ 1,468,561 $

464,375

1,932,936

464,375 $ 1,932,936

$ 385,001 $

229,088 $

614,089

(962) (538) (560,595)
$ (177,094) $

(11,754)
-
217,334 $

(962) (12,292) (560,595)
40,240

90

BIBB COUNTY SCHOOL DISTRICT
AGENCY FUNDS

STUDENT ACTIVITY
SECTION 125 CAFETERIA PLAN

To account for the portion of student activity funds related to school-wide fund raising activities.
To account for flex medical and dependent care for the employees of the District.

BIBB COUNTY SCHOOL DISTRICT

COMBINING STATEMENT OF ASSETS AND LIABILITIES AGENCY FUNDS JUNE 30, 2018

ASSETS Cash Accounts receivable Investments
Total assets

Student Activity

Section 125 Cafeteria Plan

Totals

$ 406,844 $ 445,572 $ 852,416

-

322

322

-

23,894

23,894

$ 406,844 $ 469,788 $ 876,632

LIABILITIES Due to others
Total liabilities

$ 406,844 $ 469,788 $ 876,632 $ 406,844 $ 469,788 $ 876,632

91

BIBB COUNTY SCHOOL DISTRICT

COMBINING STATEMENT OF CHANGES IN ASSETS AND LIABILITIES AGENCY FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2018

STUDENT ACTIVITY
ASSETS Cash Accounts receivable Prepaid and other assets
Total assets
LIABILITIES Due to others
Total liabilities
SECTION 125 CAFETERIA PLAN ASSETS
Cash Investments Accounts receivable
Total assets

Balance July 1, 2017

Increases

Decreases

Balance June 30, 2018

$ 511,927 $ 2,073,355 $ 2,178,438 $

528

-

528

5,000

-

5,000

$ 517,455 $ 2,073,355 $ 2,183,966 $

406,844 -
406,844

$ 517,455 $ 2,073,355 $ 2,183,966 $ $ 517,455 $ 2,073,355 $ 2,183,966 $

406,844 406,844

$ 400,485 $ 23,571 -

808,128 $ 323 322

763,041 $ -

445,572 23,894 322

$ 424,056 $ 808,773 $ 763,041 $ 469,788

LIABILITIES Due to others
Total liabilities
TOTAL AGENCY FUNDS ASSETS
Cash Investments Accounts receivable Prepaid and other assets
Total assets
LIABILITIES Due to others
Total liabilities

$ 424,056 $ 808,773 $ 763,041 $ 469,788 $ 424,056 $ 808,773 $ 763,041 $ 469,788

$ 912,412 $ 2,881,483 $ 2,941,479 $ 852,416

23,571

323

-

23,894

528

322

528

322

5,000

-

5,000

-

$ 941,511 $ 2,882,128 $ 2,947,007 $ 876,632

941,511

2,882,128

2,947,007

876,632

$ 941,511 $ 2,882,128 $ 2,947,007 $ 876,632

92

III. S T A T I S T I C A L S E C T I O N

III. STATISTICAL SECTION

This part of the Bibb County School District's comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, required supplementary information, and supplementary information says about the District's overall financial health.

Contents

Page

Financial Trends ...................................................................................................................................... 93 98 These schedules contain trend information to help the reader understand how the District's financial performance and well-being have changed over time.

Revenue Capacity.................................................................................................................................. 99 106 These schedules contain information to help the reader assess the District's most significant local revenue sources.

Debt Capacity....................................................................................................................................... 107 111 These schedules present information to help the reader assess the affordability of the District's current levels of outstanding debt and the District's ability to issue additional debt in the future.

Demographic and Economic Information .....................................................................................112 and 113 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 ......................................................................................................................... 114 131 These schedules contain service and infrastructure data 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 in these schedules is derived from the District's financial reports for the relevant year.

BIBB COUNTY SCHOOL DISTRICT
NET POSITION BY ACTIVITY1 LAST TEN FISCAL YEARS

Governmental activities Net investment in capital assets Restricted Unrestricted Total governmental activities net position
Business-type activities Net investment in capital assets Unrestricted Total business-type activities net position
Primary government Net investment in capital assets Restricted Unrestricted Total primary government net position

2009

2010

2011

2012

$ 298,357,488 3 $ 322,745,988 3 $ 336,728,828 3 $ 345,725,006 3

5,133,225 2

1,760,689 2

42,340,704 4

35,715,288 4

16,032,105

23,564,010

7,573,552

29,133,665

$ 319,522,818 $ 348,070,687 $ 386,643,084 $ 410,573,959

$

9,577,078 $

9,123,658 $

8,555,886 $

8,372,765

6,992,596

8,360,053

9,904,584

9,964,608

$ 16,569,674 $ 17,483,711 $ 18,460,470 $ 18,337,373

$ 307,934,566 3 $ 331,869,646 3 $ 345,284,714 3 $ 354,097,771 3

5,133,225 2

1,760,689 2

42,340,704 4

35,715,288 4

23,024,701

31,924,063

17,478,136

39,098,273

$ 336,092,492 $ 365,554,398 $ 405,103,554 $ 428,911,332

1 Per Audited Financial Statements. 2 Net position is restricted for debt service for the 2004 Contractual Obligation, related to the financing of the Central Office Building and the 2005 and 2006 General Obligation Bonds. 3 Increase in assets is due to completion of Capital Improvement Program construction projects. 4 Net position is restricted for debt service for the 2004 Contractual Obligation, related to the financing of the Central Office Building and the 2010 General Obligation Bonds.
5 Net position reflects the implementation of GASB Statement No. 68 for pensions. Previous years were not updated to reflect the prior period adjustment required in FY15.
6 Net position reflects the implementation of GASB Statement No. 75 for other post-employment benefit plans. Previous years were not updated to reflect the prior period adjustment required in FY18.

93

2013

2014

2015

2016

2017

2018

$ 351,383,227 3 $ 371,973,663 3 $ 411,682,794 3 $ 430,576,027 3 $ 436,390,020 3 $ 445,487,053 3

43,712,893 4

41,245,665 4

21,366,620

23,290,305

27,528,844

32,943,977

27,067,312

28,585,951

(167,355,742) 5

(153,091,162) 5

(145,486,012) 5

(325,724,920) 5,6

$ 422,163,432 $ 441,805,279 $ 265,693,672 $ 300,775,170 $ 318,432,852 $ 152,706,110

$

8,033,338 $

7,448,327 $

7,130,065 $

7,733,958 $

7,340,640 $

8,282,822

9,996,834

11,060,218

10,001,160

10,623,338

10,852,331

(8,280,908)

$ 18,030,172 $ 18,508,545 $ 17,131,225 $ 18,357,296 $ 18,192,971 $

1,914

$ 359,416,565 3 $ 379,421,990 3 $ 418,812,859 3 $ 438,309,985 3 $ 443,730,660 $ 453,769,875

43,712,893 4

41,245,665 4

21,366,620

23,290,305

27,528,844

32,943,977

37,064,146

39,646,169

(157,354,582) 5

(142,467,824) 5

(134,633,681)

(334,005,828)

$ 440,193,604 $ 460,313,824 $ 282,824,897 $ 319,132,466 $ 336,625,823 $ 152,708,024

94

BIBB COUNTY SCHOOL DISTRICT

CHANGES IN NET POSITION 1 LAST TEN FISCAL YEARS

Expenses Primary government:
Governmental activities: Instruction General administration Maintenance and operations Student transportation Interest on long-term debt
Total governmental activities expenses
Business-type activities: School food services Stadiums Wellness center Hutchings Academy
Total business-type activities expenses
Total primary government expenses
Program revenues Primary government: Governmental activities: Charges for services, Instruction 5 Operating grants and contributions Capital grants and contributions Total governmental activities program revenues
Business-type activities: Charges for services:
School food services Stadiums Wellness center Hutchings Academy
Operating grants and contributions Total business-type activities program revenues
Total primary government revenues
General revenues and other changes in net position Primary government:
Governmental activities: Property taxes Sales taxes Other taxes Grants and contributions not restricted to specific programs Investment earnings Gain on sale of assets Transfers
Extraordinary item 4 in net position
Business-type activities: Investment earnings Gain (loss) on sale of assets Transfers
in net position
in net position
Change in net position Governmental activities Business-type activities
Total primary government change in net position

2009

2010

2011

$ 186,486,038 3 $ 195,062,200 3 $ 199,491,917

5,160,074

4,783,358

4,668,333

17,485,871

15,930,446

16,500,975

9,875,234

8,474,016

8,373,330

2,665,569

1,649,316

1,071,614

221,672,786

225,899,336

230,106,169

12,903,810 249,546 41,657 -
13,195,013
234,867,799

13,441,035 237,981 38,835 -
13,717,851
239,617,187

13,432,390 230,871 41,938 -
13,705,199
243,811,368

5,181,042 124,491,161 2
9,548,527 139,220,730

4,916,137 135,185,194 2
334,270 140,435,601

4,442,339 147,108,861
1,048,870 152,600,070

1,880,137 223,800 53,230 -
11,609,534 13,766,701
152,987,431

1,792,702 450
49,770 -
12,514,978 14,357,900
154,793,501

1,651,755 2,175
45,473 -
12,722,185 14,421,588
167,021,658

71,635,050 30,837,248
803,972 2,834,008 1,171,573
(25,746)
1,091,763 108,347,868

76,107,910 30,708,113
704,466 6,679,391
71,788 -
(260,064)
114,011,604

77,490,597 33,274,668
775,254 4,678,040
109,937 11,606
(250,000)
116,090,102

60,504 29,586 25,746 115,836
108,463,704

13,924 -
260,064 273,988
114,285,592

10,370 -
250,000 260,370
116,350,472

25,895,812 687,524
$ 26,583,336

28,547,869 914,037
$ 29,461,906

38,584,003 976,759
$ 39,560,762

1 Per Audited Financial Statements. 2 Decrease in operating grants and contributions is due to a reduction in State QBE
funding in 2009 due to the reduction in State Health insurance rates.
3 Decrease in instructional expenses is due to a decrease in the State Health Insurance rate for 2009 only. 4 The Extraordinary Item reflects an insurance reimbursement due to the District for tornado damage. 5 All charges for services in governmental activities are allocated to the instruction function.
95

2012

2013

2014

2015

2016

2017

2018

$ 203,772,832 5,861,574
16,352,520 8,625,627 591,481
235,204,034

$ 205,659,113 6,211,520
18,236,055 9,152,170 252,873
239,511,731

$ 190,364,402 5,215,289
20,426,804 11,549,958
19,671 227,576,124

$ 196,468,392 5,167,493
20,132,996 10,594,376
151,109 232,514,366

$ 195,955,268 4,759,529
19,187,800 9,152,453 104,347
229,159,397

$ 216,651,601 6,459,667
19,014,928 11,004,051
96,142 253,226,389

$ 222,758,006 7,572,905
19,637,436 12,850,636
83,679 262,902,662

14,985,982 236,514 79,914 -
15,302,410
250,506,444

15,831,626 224,022 41,180 -
16,096,828
255,608,559

14,894,576 257,388 37,533 -
15,189,497
242,765,621

16,482,281 238,188 51,403 -
16,771,872
249,286,238

16,970,986 248,195 44,548 -
17,263,729
246,423,126

17,831,199 266,576 218,188 7,089
18,323,052
271,549,441

19,148,812 225,676 25,171 32,959
19,432,618
282,335,280

4,356,387 123,193,096
133 127,549,616
1,632,573 2,825
39,775 -
13,245,440 14,920,613 142,470,229

2,985,532 137,796,072
630,000 141,411,604
1,572,918 8,100
51,745 -
13,911,752 15,544,515 156,956,119

3,022,010 135,353,965
2,106,421 140,482,396
1,410,199 8,325
44,525 -
14,040,401 15,503,450 155,985,846

2,863,690 141,585,311
5,969,435 150,418,436
896,391 2,384
42,642 -
16,576,213 17,517,630 167,936,066

3,273,133 144,741,808
9,751,642 157,766,583
1,021,825 2,700
38,165 -
17,170,063 18,232,753 175,999,336

5,272,721 150,667,178
216,527 156,156,426
829,349 120
34,990 20,999 16,960,358 17,845,816 174,002,242

4,604,926 153,748,947
1,213,603 159,567,476
774,008 -
31,929 39,340 16,600,007 17,445,284 177,012,760

74,724,411 34,782,651
778,481 21,469,657
80,093 -
(250,000)
131,585,293

74,167,428 30,436,212
1,055,738 4,307,244
116,990 42,221
(230,000)
109,895,833

75,155,287 29,266,620
945,425 1,415,932
95,507 11,606 (154,802)
106,735,575

73,371,367 29,916,162
857,679 2,975,284
94,963 -
(230,002)
106,985,453

73,941,113 29,746,664
1,148,187 1,731,235
137,113 -
(230,000)
106,474,312

82,306,656 29,262,925
1,396,848 1,695,974
315,242 -
(250,000)
114,727,645

83,045,079 31,467,695
1,061,942 7,881,481
949,070 -
(250,000)
124,155,267

8,700 -
250,000 258,700
131,843,993

11,232 3,880
230,000 245,112
110,140,945

9,618 -
154,802 164,420
106,899,995

12,912 -
230,002 242,914
107,228,367

27,047 -
230,000 257,047
106,731,359

60,447 2,464
250,000 312,911
115,040,556

139,209 5,941
250,000 395,150
124,550,417

23,930,875 (123,097)

11,795,706 (307,201)

19,641,847 478,373

24,889,523 988,672

35,081,498 1,226,071

17,657,682 (164,325)

20,820,081 (1,592,184)

$ 23,807,778 $ 11,488,505 $ 20,120,220 $ 25,878,195 $ 36,307,569 $ 17,493,357 $ 19,227,897

96

BIBB COUNTY SCHOOL DISTRICT

FUND BALANCES, GOVERNMENTAL FUNDS 1 LAST TEN FISCAL YEARS

General Fund Nonspendable Restricted Assigned Unassigned Reserved Unreserved
Total general fund
All Other Governmental Funds Nonspendable Restricted Committed Reserved Unreserved, reported in: Special revenue funds Capital projects funds
Total all other governmental funds

2009

2010

2011

3

2012

$

- $

- $

92,982 $

244,860

-

-

42,727

-

-

-

3,717,583

8,060,032

-

-

18,259,199

16,666,784

685,198

1,292,518

-

-

10,840,762

15,410,414 7

-

-

$ 11,525,960 4 $ 16,702,932 $ 22,112,491 $ 24,971,676

$

- $

- $

- $

-

-

-

42,297,977

40,245,768

-

-

2,314,783

2,274,362

6,106,997 6

1,760,689 6

-

-

700,554

633,146

633,146

-

1,833,298

3,255,939

3,255,939

-

$ 8,640,849 $ 5,649,774 $ 48,501,845 2 $ 42,520,130

1 Per Audited Financial Statements. 2 The increase in fund balance is primarily due to the issuance of the Series 2010 General Obligation Bonds ($30,000,000) on September 29, 2010.
3 The School District implemented GASB No. 54 for the fiscal year ended June 30, 2011. 4 The $6.2 million decrease in the General Fund balance was primarily due to the use of reserve funds to finance FY 2009 governmental operations.
5 Continued reductions is due to the use of these funds to finance the 2005 Capital Improvement Program expenditures.
6 The increase in fund balance is primarily due to the increase in furlough days taken by District employees coupled with a concerted effort to curtail expenditures.

97

2013

2014

2015

2016

2017

2018

$

533,396 $

609,305 $

239,718 $

410,957 $

408,265 $

222,902

-

-

-

-

-

-

7,396,557

7,465,783

6,182,492

1,795,524

2,554,577

3,723,032

16,573,293 -

17,768,672 -

15,222,178 -

23,173,055 -

29,352,497 -

28,347,669 -

-

-

-

-

-

-

$ 24,503,246 $ 25,843,760 $ 21,644,388 $ 25,379,536 $ 32,315,339 $ 32,293,603

$

- $

- $

6,823 $

- $

- $

-

43,712,893

41,245,665

21,366,620

23,290,305

27,528,844

32,943,977

2,306,739

1,969,668

1,761,495

2,216,583

2,098,827

2,567,577

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

$ 46,019,632 $ 43,215,333 $ 23,134,938 $ 25,506,888 $ 29,627,671 $ 35,511,554

98

BIBB COUNTY SCHOOL DISTRICT
CHANGES IN FUND BALANCES, GOVERNMENTAL FUNDS 1 LAST TEN FISCAL YEARS

Revenues: Local sources State sources Federal sources Interest income On-behalf payments Other sources Total revenues
Expenditures: Current: Instruction General administration Maintenance and operations Student transportation On-behalf payments Capital outlay Debt service: Principal retirement Interest and fiscal charges Bond issuance costs Total expenditures
Excess of revenues over expenditures
Other financing sources (uses) Proceeds from capital lease Proceeds from sale of assets Bond proceeds Premium on bonds issued Transfers in Transfers out
Total other financing sources (uses)
Extraordinary item
Net change in fund balances
Debt service as a percentage of non-capital expenditures

2009

2010

2011

2012

$ 107,880,029 111,055,542 23,399,757 1,171,573 5 2,007,493 75,682 245,590,076

$ 110,920,286 98,802,821 6 42,423,489 6 71,788 493,035 23,051
252,734,470

$ 116,883,410 107,977,489 39,504,593 109,937 547,296 71,444 265,094,169

$ 114,926,700 106,601,196 41,682,410 80,093 296,016 263,586,415

179,223,368 4,862,351
17,200,273 8,944,807 2,007,493
66,215,229
25,500,694 3,285,050 1,050
307,240,315
(61,650,239)

184,828,737 4,598,669
15,806,509 7,566,211 493,035 8,421,802 2
26,112,319 2,226,069 525
250,053,876
2,680,594

190,720,299 4,556,517
16,252,755 7,488,491 547,296 9,545,322 2
20,630,529 1,729,622 377,000
251,847,831
13,246,338

193,547,986 5,464,792
16,225,211 7,858,200 296,016
26,042,084
10,316,102 1,312,666 -
261,063,057
2,523,358

1,399,644 427,100 -
4,757,595 (5,148,132) 1,436,207
1,091,763 4

175,000
24,817,885 3 (25,487,582) 3 (494,697)
-

30,000,000 2,701,490 24,591,646 (26,166,929) 31,126,207
-

$ (59,122,269) $ 2,185,897

$ 44,372,545

17,002
28,754,722 (30,528,527) (1,756,803)

-

$

766,555

12.02%

11.66%

9.25%

4.94%

1 Per Audited Financial Statements. 2 Decrease in Capital Outlay is due to the sunset of the 2005 Capital Improvement Program. 3 Includes transfers from the SPLOST Fund to the Debt Service Fund for payment on the 2005 Bonds. 4 The Extraordinary Item reflects an insurance reimbursement due to the District for tornado damage.
5 Decrease in Interest Revenue is due to the reduction in funds available for investment as we complete the 2005 Capital Improvement Program projects as well as the significant reduction in interest rates. 6 Decrease in state revenues and increase in federal revenues is due to the replacement of state revenues with federal revenues by the State of Georgia along with an increase in federal funding due to the receipt of ARRA funding.

99

2013

2014

2015

2016

2017

2018

$ 109,409,813 103,222,294 36,593,385 116,990 456,379 42,221 249,841,082

$ 109,365,858 103,047,361 35,486,462 95,507 470,833 11,606 248,477,627

$ 107,455,922 116,258,325 33,716,689 94,963 490,225 75,964 258,092,088

$ 108,287,322 127,153,940 28,823,502 137,113 478,332 51,073 264,931,282

$ 120,115,562 119,476,359 29,664,740 315,242 468,043 106,957 270,146,903

$ 121,059,712 133,181,720 27,076,728 949,070 499,864 53,795 282,820,889

188,285,121 6,376,750
18,027,739 8,454,927 456,379
22,902,159
11,652,770 1,080,627 -
257,236,472
(7,395,390)

180,180,576 4,866,993
19,930,398 10,917,474
470,833 19,045,691
11,578,392 795,089 -
247,785,446
692,181

191,986,673 5,167,445
19,903,719 9,638,364 490,225
53,651,548
434,231 151,109
281,423,314
(23,331,226)

188,558,129 4,768,804
19,009,020 8,197,322 478,332
37,436,482
291,486 104,347
258,843,922
6,087,360

196,085,273 6,104,050
18,307,905 9,936,759 468,043
27,514,371
327,774 96,142 -
258,840,317
11,306,586

213,156,741 7,065,522
18,579,959 11,500,149
499,864 25,320,592
502,236 83,679 -
276,708,742
6,112,147

10,108,763
20,764,413 (20,446,714) 10,426,462

15,408,845 (17,564,811) (2,155,966)

(948,541) (948,541)

608,902
51 (589,215) 19,738

-
(250,000) (250,000)

-
(250,000) (250,000)

-

-

-

-

-

-

$ 3,031,072 $ (1,463,785) $ (24,279,767) $ 6,107,098 $ 11,056,586 $ 5,862,147

5.29%

5.44%

0.25%

0.18%

0.18%

0.23%

100

BIBB COUNTY SCHOOL DISTRICT

ASSESSED VALUE AND ACTUAL VALUE OF TAXABLE PROPERTY LAST TEN FISCAL YEARS

Fiscal Year

Residential Property

Commercial Property

Assessed Value

Motor

Industrial

Vehicle

Property

Property

Other Property

Total Property

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

$ 1,901,158,428 2,341,798,092 2,314,060,733 2,281,356,418 2,184,969,532 2,141,522,348 2,096,647,260 2,034,777,589 2,023,324,452 2,008,937,892

$ 1,319,503,758 1,556,431,280 1,516,041,435 1,491,104,317 1,441,064,425 1,459,212,160 1,455,905,068 1,475,420,757 1,514,467,545 1,572,253,004

$ 401,994,543 399,391,541 362,589,484 367,285,446 352,449,693 340,062,977 360,473,200 385,341,214 401,927,651 457,218,675

$ 335,337,890 359,153,810 349,085,600 347,406,200 338,215,220 357,594,990 301,551,920 210,348,700 158,458,740 118,018,850

$ 186,710,140 208,388,119 204,613,278 241,146,055 239,112,624 247,068,452 253,240,795 262,818,098 270,981,269 279,915,930

$ 4,144,704,759 4,865,162,842 4,746,390,530 4,728,298,436 4,555,811,494 4,545,460,927 4,467,818,243 4,368,706,358 4,369,159,657 4,436,344,351

Source: Bibb County Tax Commissioner's Office
Notes: The county assesses property at 40% of actual value. Actual tax value is calculated by dividing assessed value (before exemptions) by 40%. Tax rates are per $1,000 of assessed value.

101

Total Taxable Property

Less Exemptions
$ 379,612,640 390,804,653 378,145,013 389,946,690 384,341,159 379,268,253 391,859,575 396,425,213 398,899,448 423,265,034

Assessed Value
$ 3,765,092,119 4,474,358,189 4,368,245,517 4,338,351,746 4,171,470,335 4,166,192,674 4,075,958,668 3,972,281,145 3,970,260,209 4,013,079,317

Actual Value
$ 10,361,761,898 12,162,907,105 11,865,976,325 11,820,746,090 11,389,528,735 11,363,652,318 11,169,545,608 10,921,765,895 10,922,899,143 11,090,860,878

Total Direct Tax Rate
19.7988 17.9450 17.9450 17.9450 17.9450 17.9450 17.9450 17.9450 19.9450 19.8140

Assessed Value as a Percentage of Actual Value
36.34% 36.79% 36.81% 36.70% 36.63% 36.66% 36.49% 36.37% 36.35% 36.18%

102

BIBB COUNTY SCHOOL DISTRICT

DIRECT AND OVERLAPPING PROPERTY TAX RATES LAST TEN FISCAL YEARS

Bibb County School District Maintenance and Operations
Total Direct Rate - School District

2009

2010

2011

$ 19.7988 $ 19.7988

$ 17.9450 $ 17.9450

$ 17.9450 $ 17.9450

County Rates (Direct) General Bond Fire District
Total Direct Rate - County

$ 11.6739 -
1.3748 $ 13.0487

$ 10.0030 -
1.2040 $ 11.2070

$ 10.0030 -
1.2055 $ 11.2085

City Rates Macon General Bond
Total Direct Rate - City
Source: Bibb County Tax Commissioner's Office

$ 10.1600 -
$ 10.1600

$ 9.8000 -
$ 9.8000

$ 9.8000 -
$ 9.8000

103

2012

2013

2014

2015

2016

2017

2018

$ 17.9450 $ 17.9450

$ 17.9450 $ 17.9450

$ 17.9450 $ 17.9450

$ 17.9450 $ 17.9450

$ 17.9450 $ 17.9450

$ 19.9450 $ 19.9450

$ 19.8140 $ 19.8140

$ 12.0030 -
1.4885 $ 13.4915

$ 12.0030 -
1.5162 $ 13.5192

$ 12.0030 -
1.5199 $ 13.5229

$ 14.6520 -
$ 14.6520

$ 14.6520 -
$ 14.6520

$ 14.6520 -
$ 14.6520

$ 17.6520 -
$ 17.6520

$ 9.8000

$ 9.7000

$ 9.7000

$ 4.8500

$

-

$

-

$

-

-

-

-

-

-

-

-

$ 9.8000

$ 9.7000

$ 9.7000

$ 4.8500

$

-

$

-

$

-

104

BIBB COUNTY SCHOOL DISTRICT

PRINCIPAL PROPERTY TAXPAYERS CURRENT YEAR AND NINE YEARS AGO

Employer
Graphic Packaging International, Inc. Georgia Power Company Norfolk Southern Combined Railroad Coliseum Medical Centers YKK (USA), Inc. Shoppes at River Crossing, LLC Armstrong World Industries, Inc. Wal-Mart DDRTC Eisenhower Crossing, LLC Atlanta Gas Light Co. Bellsouth (AT&T) Telecommunications Macon Mall Paragon Trade Brands, Inc. Atlantic Southeast Airlines

Taxable Assessed
Value

2018 Rank

Percentage of Total Taxable
Assessed Value

$ 85,101,849 1

73,091,512 2

43,021,340 3

36,853,666 4

32,288,578 5

25,813,174 6

24,035,956 7

21,306,364 8

18,832,640 9

17,064,076 10

-

-

-

-

-

-

-

-

$ 377,409,155

2.14% 1.84% 1.08% 0.93% 0.81% 0.65% 0.61% 0.54% 0.47% 0.43%
9.50%

Source: Bibb County Tax Commissioner's Office

Taxable Assessed
Value

2009 Rank

Percentage of Total Taxable
Assessed Value

$ 61,366,706 1 39,029,476 3 -25,370,239 8 56,016,664 2 -24,797,202 9 27,662,606 7 --30,508,003 6 37,248,157 4 35,240,551 5 23,191,367 10
$ 360,430,971

1.63% 1.04%
0.67% 1.49%
0.66% 0.73%
0.81% 0.99% 0.94% 0.62% 9.58%

105

BIBB COUNTY SCHOOL DISTRICT

PROPERTY TAX LEVIES AND COLLECTIONS LAST TEN FISCAL YEARS

Fiscal Year

Tax Year

Taxes Levied for the
Fiscal Year (Original Levy) Adjustments

Total Adjusted
Levy

Collected within the Fiscal

Year of the Levy

Percentage Collections in

of Original Subsequent

Amount

Levy

Years

Tax Collections to Date

Percentage

of Adjusted

Amount

Levy

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

$ 74,544,306 80,292,358 78,388,166 77,851,722 74,857,035 74,762,330 73,143,079 71,282,586 79,190,029 79,518,277

$ (358,415) (712,967) 450,155 (609,636) 135,083 396,649 833,595
1,102,490 1,293,859
711,774

$ 74,185,891 79,579,391 78,838,321 77,242,086 74,992,118 75,158,979 73,976,674 72,385,076 80,483,888 80,230,051

$ 71,846,462 72,902,664 75,026,552 73,518,853 72,188,549 70,398,953 68,935,730 68,223,914 76,340,411 76,557,481

96.38% 90.80% 95.71% 94.43% 96.44% 94.16% 94.25% 95.71% 96.40% 96.28%

$ 1,822,713 6,281,468 3,323,620 3,365,247 2,334,901 2,124,980 1,977,070 1,726,790 1,144,735 -

$ 73,669,175 79,184,132 78,350,172 76,884,100 74,523,450 72,523,933 70,912,800 69,950,704 77,485,146 76,557,481

99.30% 99.50% 99.38% 99.54% 99.38% 96.49% 95.86% 96.64% 96.27% 95.42%

Source: Bibb County Tax Commissioner's Office

106

BIBB COUNTY SCHOOL DISTRICT

RATIOS OF OUTSTANDING DEBT BY TYPE LAST TEN FISCAL YEARS

Fiscal
Year
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

General Obligation
Bonds
$ 46,292,205 3 20,339,517 5 32,122,599 6 22,130,745 7 11,213,891 8 - 11 -

Capital Leases

Governmental Activities

Total

Note

Primary

Payable

Government

% of Personal Income 1

$ 3,118,950 4 2,506,631 1,876,102 780,000 5,445,157 9 4,571,791 -

- $ 49,411,155

-

22,846,148

-

33,998,701

-

22,910,745

$ 3,935,839 10 20,594,887

3,865,810

8,437,601

3,633,734

3,633,734

3,342,248

3,342,248

3,014,474

3,014,474

2,512,238

2,512,238

0.99% 0.46% 0.68% 0.41% 0.37% 0.15% 0.06% 0.06% 0.05% 0.04%

Population
155,216 156,460 155,547 156,433 156,462 155,791 154,314 153,721 152,760 152,862

Per Capita 2
318.34 146.02 218.58 146.46 131.63
54.16 23.55 21.74 19.73 16.43

1 Source: U.S. Department of Commerce, Bureau of Economic Analysis 1 Notes: See additional personal income data on Schedule of Demographic and Economic Statistics on page 112. 2 Source: U.S. Department of Commerce, Bureau of Economic Analysis 2 Notes: See additional population statistics on Schedule of Demographic and Economic Statistics on page 112. 3 Includes 2005 General Obligation Bonds of $45,500,000 plus unamortized Bond Premium of $792,205. The reduction is due to the payoff of the 2006 General Obligation Bonds and the partial payment of the 2005 Bonds. 4 Increase is due to the lease/purchase of 17 school buses. 5 Includes 2005 General Obligation Bonds of $20,000,000 plus unamortized Bond Premium of $339,517. The reduction is due to a $25,500,000 principal payment made on the 2005 Bonds in March 2010. 6 Includes 2010 General Obligation Bonds of $30,000,000 plus unamortized Bond Premium of $2,122,599. The final payment on the 2005 Bonds was made in March 2011. 7 Includes 2010 General Obligation Bonds of $20,780,000 plus unamortized Bond Premium of $1,350,745. The reduction is due to a $9,220,000 principal payment made on the 2010 Bonds in March 2012.
8 Includes 2010 General Obligation Bonds of $10,635,000 plus unamortized Bond Premium of $578,891. The reduction is due to a $10,145,000 principal payment made on the 2010 Bonds in March 2013.
9 Increase is due to the Macon Promise Neighborhood Capital Lease. 10 Increase is due to the Wipro Note payable. 11 Decrease is due to the payoff of the 2010 General Obligation Bonds. The final payment of $10,635,000 was made in March 2014.
Note: Amounts above do not include the debt for the Academy for Classical Education (ACE) charter school.

107

BIBB COUNTY SCHOOL DISTRICT
RATIOS OF GENERAL BONDED DEBT OUTSTANDING LAST TEN FISCAL YEARS
(amounts expressed in thousands, except per capita amount)

Fiscal Year
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

General Obligation
Bonds
$ 46,292 20,339 3 32,123 22,131 5 11,214 6 - 1 -

Less: Amounts Available in Debt Service Fund
$ 5,133 2 387
14,311 4 10,795 10,269
-

Total
$ 41,159 19,952 17,812 11,336 945 -

% of Estimated
Actual Taxable Value of Property
0.40% 0.16% 0.15% 0.10% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00%

Per Capita
265 128 114
72 6 -

1 The $11.2 million decrease in GO Bonds is due to the final payment being made on the Series 2010 Issue in March 2014.
2 The $23.7 million decrease in debt service reflects the first principal payments made in March 2009 on the Series 2005 and 2006 Bond Issues ($10,500,000 and $14,535,000, respectively).
3 The $25.9 million decrease in debt service reflects a principal payment made in March 2010 on the Series 2005 Issue ($25,500,000).
4 The $13.9 million increase in debt service represents the amount reserved to cover the first principal payment on the Series 2010 Issue in April 2012.
5 The $9.9 million decrease in GO Bonds reflects a principal payment made in March 2012 on the Series 2010 Issue ($9,220,000).
6 The $10.9 million decrease in GO Bonds reflects a principal payment made in March 2013 on the Series 2010 Issue ($10,145,000).

108

Debt limit Total net debt applicable to limit Legal debt margin

BIBB COUNTY SCHOOL DISTRICT

LEGAL DEBT MARGIN LAST TEN FISCAL YEARS 1

2009

2010

2011

2012

$ 394,416,758

$ 447,435,819

$ 436,824,552 $ 433,835,175

45,500,000 2

20,000,000 3

30,000,000 4

20,780,000

$ 348,916,758

$ 427,435,819

$ 406,824,552 $ 413,055,175

1 Source: Bibb County Tax Commissioner's Office 2 Represents $56.0 million General Obligation Bonds issued December 29, 2005 and $14.535 million General Obligation Bonds issued February 1, 2006 for the 2005 Capital Improvement Program. 3 Represents $20.0 million General Obligation Bonds issued December 29, 2005 for the 2005 Capital Improvement Program. 4 Represents $30 million General Obligation Bonds issued September 29, 2010 for the 2010 Capital Improvement Program.
109

2013

2014

2015

2016

2017

2018

$ 417,147,034 $ 416,619,267 $ 405,595,866 $ 397,228,115 $ 397,026,021 $ 401,307,932

10,635,000 4

-

-

-

-

-

$ 406,512,034 $ 416,619,267 $ 405,595,866 $ 397,228,115 $ 397,026,021 $ 401,307,932

Total net debt applicable to the limit as a percentage of debt limit

0.00%

Legal Debt Margin Calculation for Fiscal Year 2018
Gross tax digest for the School District as of January 1, 2017 Less school bond exemptions Net bond tax digest Debt limit (10% of net bond tax digest)
Less amount of outstanding debt applicable to limit Legal debt margin

$ 4,436,344,351 423,265,034
4,013,079,317 401,307,932
$ 401,307,932

110

BIBB COUNTY SCHOOL DISTRICT

DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT JUNE 30, 2018

Debt Outstanding

Direct Contractual Obligation Debt

Contractual Obligation Debt

$

Total Direct Contractual Obligation Debt

Overlapping Debt General Obligation Debt Series 2012 Special Purpose Local Option Sales Tax Bonds - County Series 2012 SPLOST County unamortized premium Series 2012 Special Purpose Local Option Sales Tax Bonds - City Series 2012 SPLOST City unamortized premium Series 2017 Special Purpose Local Option Sales Tax Bonds Series 2017 SPLOST Unamortized premium Series 2014 Tax Allocation District Bonds Second Street Total Overlapping General Obligation Debt

2,512,238
2,512,238
4,175,000 123,086
3,700,000 30,477
35,000,000 5,194,890 3,174,277
51,397,730

Contractual Obligation Debt Macon-Bibb County Industrial Authority Revenue Bonds Series 2015 Revenue Refunding Bass Pro Shop Project and Sofkee Park Series 2015 Revenue Refunding unamortized premium Macon-Bibb County Urban Development Authority Revenue Bonds Series 2007 Hotel Project Series 2010 Revenue Refunding Series 2010 Revenue Refunding unamortized premium Series 2013B Public Projects Series 2013B Public Projects unamortized premium Series 2015A Revenue Bonds Series 2015B Revenue Bonds Series 2016A Revenue Bonds Series 2016B Revenue Bonds Series 2017A Revenue Refunding Bonds Series 2017A Revenue Refunding Bonds unamortized premium Series 2017B Revenue Refunding Bonds Series 2017B Revenue Refunding Bonds unamortized premium Certificates of Participation Capital Lease Macon-Bibb County Urban Development Authority Promissory Note Total Overlapping Contractual Obligation Debt

8,250,000 327,968
7,845,000 4,330,000
44,862 1,995,000
24,108 12,190,000
6,240,000 3,985,910 2,000,000 14,965,000 2,954,299 3,285,000
34,018 13,452,000
917,681 1,288,954 84,129,800

Total Overlapping Debt

135,527,530

Total Direct and Overlapping Debt

$

138,039,768

Estimated Percentage Applicable

Estimated Share of Direct and Overlapping Debt

100%

$

2,512,238 2,512,238

100% 100% 100% 100% 100% 100% 100%

4,175,000 123,086
3,700,000 30,477
35,000,000 5,194,890 3,174,277
51,397,730

100% 100%
100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%

8,250,000 327,968

7,845,000 4,330,000
44,862 1,995,000
24,108 12,190,000
6,240,000 3,985,910 2,000,000 14,965,000 2,954,299 3,285,000
34,018 13,452,000
917,681 1,288,954 84,129,800

135,527,530

$

138,039,768

________________________
Source: Macon-Bibb County
Notes Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the County. This schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses of Bibb County. This process recognizes that, when considering the government's ability to issue and repay long-term debt, the entire debt burden borne by the residents and businesses should be taken into account. However, this does not imply that every taxpayer is a resident and, therefore, responsible for repaying the debt of each overlapping government.

111

BIBB COUNTY SCHOOL DISTRICT

DEMOGRAPHIC AND ECONOMIC STATISTICS LAST TEN FISCAL YEARS

Fiscal Year
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Population1
155,216 156,460 155,547 156,433 156,462 155,791 154,314 153,721 152,760 152,862

Personal Income2 (thousands of dollars)
$ 4,956,780 4,972,280 5,476,147 5,592,551 5,570,724 5,684,094 5,725,181 5,899,611 6,008,761 6,119,162

Per Capita Personal Income2
$ 31,935 31,780 35,206 35,750 35,604 36,485 37,101 38,379 39,335 40,031

Median Age3
35.95 34.94 35.50 35.60 36.00 36.10 36.30 36.50 35.60 36.80

School Enrollment

Unemployment Rate4

24,968 6 25,109 5 24,961 8 24,730 9 24,508 10 24,180 11 24,354 12 24,457 13 23,988 14 24,110 15

10.2% 7 10.7% 10.9% 10.4% 10.0%
8.7% 7.2% 3 6.1% 6.0% 4.5%

1 Source: U.S. Census Bureau, Population Estimates Program. 2 Source: U.S. Department of Commerce, Bureau of Economic Analysis. Figures are for the prior calendar year. 3 Source: Middle GA Regional Development Center. 4 Source: GA Department of Labor. 5 FY 2010 includes Pre-Kindergarten through 12th Grade plus 106 students served by Residential Treatment Facilities.
6 Includes Pre-Kindergarten through 12th Grade plus 114 students served by Residential Treatment Facilities. 7 Substantial increase in the unemployment rate is due to the collapse of local, state, national and international (global) economies related to the downturn in housing, financial and other related industries.
8 FY 2011 includes Pre-Kindergarten through 12th Grade plus 51 students served by Residential Treatment Facilities. 9 FY 2012 includes Pre-Kindergarten through 12th Grade plus 21 students served by Residential Treatment Facilities. 10 FY 2013 includes Pre-Kindergarten through 12th Grade plus 31 students served by Residential Treatment Facilities. 11 FY 2014 includes Pre-Kindergarten through 12th Grade plus 49 students served by Residential Treatment Facilities. 12 FY 2015 includes Pre-Kindergarten through 12th Grade plus 48 students served by Residential Treatment Facilities and 759 students enrolled at the Academy for Classical Education (ACE) Charter School.
13 FY 2016 includes Pre-Kindergarten through 12th Grade plus 44 students served by Residential Treatment Facilities and 1,130 students enrolled at the Academy for Classical Education (ACE) Charter School.
14 FY 2017 includes Pre-Kindergarten through 12th Grade plus 62 students served by Residential Treatment Facilities and 1,394 students enrolled at the Academy for Classical Education (ACE) Charter School.
15 FY 2018 includes Pre-Kindergarten through 12th Grade plus 26 students served by Residential Treatment Facilities and 1,541 students enrolled at the Academy for Classical Education (ACE) Charter School.

112

BIBB COUNTY SCHOOL DISTRICT

PRINCIPAL EMPLOYERS CURRENT YEAR AND NINE YEARS AGO

Employer
GEICO Navicent Health Medical Center Bibb County School District Macon-Bibb Government Coliseum Health Systems Mercer University Wal-Mart Super Stores YKK (USA), Inc. United States Postal Service Ricoh USA Georgia Farm Bureau Federation The Boeing Company City of Macon, Georgia Bibb County, Georgia

Employees4

2018 Rank4

Percentage of Total
Employment2

5,500

1

4,800

2

3,359 3

3

1,805

4

1,760

5

1,000

6

998

7

790

8

740

8

680

9

600

10

554

11

-

-

-

-

22,586

7.90% 6.89% 4.82% 2.59% 2.53% 1.44% 1.43% 1.13% 1.06% 0.98% 0.86% 0.80%
-
32.43%

Employees1

2009 Rank1

Percentage of Total
Employment2

3,978

2

4,000

1

3,776 3 3

-

-

1,250

6

1,340

5

-

-

740

8

683

9

-

-

-

-

505

10

1,400

4

931

7

18,603

4.70% 4.73% 4.46%
1.48% 1.58%
0.87% 0.81%
0.60% 1.65% 1.10%
21.98%

1 Source: Macon-Bibb County Industrial Authority. 2 Source: Georgia Department of Labor. 3 Source: District records, does not include Academy for Classical Education (ACE) charter school employees. 4 Source: Macon Economic Development Commission

113

Fiscal
Year
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

BIBB COUNTY SCHOOL DISTRICT

OPERATING STATISTICS LAST TEN FISCAL YEARS

Total Governmental
Activities Expenditures1
$ 221,672,786 225,899,336 230,106,169 235,204,034 239,511,731 227,576,124 232,514,366 229,159,397 253,226,389 262,902,662

Full Student Membership2
24,968 25,109 24,961 24,730 24,508 24,180 24,354 24,457 23,988 24,110

Cost per
Pupil
8,878 8,997 9,219 9,511 9,773 9,412 9,547 9,370 10,556 10,904

Percentage
Change
-3.69% 1.33% 2.47% 3.17% 2.75% -3.69% 1.44% -1.86% 12.66% 3.30%

Teaching Staff
(FTEs)3
$ 1,653 1,650.86 1,667.23 1,572.38 1,585.06 1,519.13 1,573.03 1,553.20 1,518.00 1,619.94

Pupil/ Teacher
Ratio
15.10 15.21 14.97 15.73 15.46 15.92 15.48 15.75 15.80 14.88

1 Per Audited Financial Statements. 2 Source: School District Records (includes Pre-Kindergarten through 12th Grade). 3 Source: GA Department of Education: Full-Time Equivalent teaching slots.
Note: The FY 2015 through FY 2018 student membership includes the Academy for Classical Education (ACE) charter school's students.

114

BIBB COUNTY SCHOOL DISTRICT
DISTRICT EMPLOYEES1 LAST TEN FISCAL YEARS (as of October 31 of each fiscal year)

Classroom Teachers Administrators and Supervisors Media Specialists, Guidance Counselors, and Psychologists Professional/Technical Support Aides and Clerical Personnel Transportation and Maintenance Personnel Food Service Personnel and Custodians Other

2009
1,841 194 125 70 696 272 509 69
3,776

2010
1,825 154 129 121 622 261 478 38
3,628

2011
1,686 187 114 61 637 283 449 78
3,495

_________________________
1 Source: School District Records.
2 Increase due to reclassification of Academic/Career/Instructional/Performance Learning Coaches from classroom teachers to Media Specialists, Guidance Counselors and Psychologists. 3 Increase due to additional substitute bus drivers and monitors on payroll. 4 Decreases due to district-wide staffing reductions as a result of decreases in revenue. 5 Decreases due to district-wide staffing reductions and the opening of the new Academy for Classical Education (ACE) charter school. ACE's employee information is not included.
6 Increase due to additional bus drivers and monitors required to accommodate academic program changes. 7 Increase due to additional part-time cafeteria employees required to serve charter schools and student enrollment increases. 8 Increase due to efforts to reduce student/teacher ratio.

115

2012
1,665 184 167 2 62 625 284 454 101 3
3,542

2013
1,527 184 154 56 578 251 445 78
3,273 4

2014
1,563 208 159 53 553 278 446 54
3,314

2015
1,523 205 155 56 526 247 392 82
3,186 5

2016
1,541 212 154 62 554 288 6 419 7 114 3
3,344

2017
1,531 212 155 75 561 300 424 74
3,332

2018
1,587 8 211 142 76 576 305 443 73
3,413

116

BIBB COUNTY SCHOOL DISTRICT

TEACHER SALARIES LAST TEN FISCAL YEARS

Number of Full and Part Time Teachers2

Fiscal 4 Yr

5 Yr

6 Yr

7 Yr

Year Bachelors Masters Specialists Doctoral Other

Total

Minimum Salary
(based on 4 yr cert/ 0 yrs exp)1

Maximum Salary Bibb Co
(based on Average 7 yr cert/ Annual 21+ yrs exp)1 Salary2

Statewide
Average Annual Salary2

2009

790

713

189

2010

728

725

223

2011

582

786

335

2012

599

727

247

2013

631

700

242

2014

605

653

254

2015

668

643

251

2016

646

651

240

2017

622

648

223

2018

681

675

240

15

3

1,710

$ 33,749

$78,099 $50,222

$ 52,823

19

10

1,705

33,749

78,099

50,668

53,138

85

9

1,797

33,749

27

3

1,603 3

33,749

78,099 78,099

49,740 51,569

54,274 53,002

31

9

1,613

33,749

78,099

51,304

52,956

33

3

1,548

33,749

78,099

51,540

52,973

37

6

1,605

33,749

78,099

50,821

53,424

40

6

1,583

33,749

78,099

50,665

54,215

43

11

1,547

34,760

80,441

52,462

55,530

40

12

1,648

34,760

80,441

48,201

56,333

1 Source: School District records. 2 Source: Georgia Department of Education. 3 Decrease in number of teachers is due to a change in the staffing allocation formulas coupled with the loss of positions formerly funded with federal ARRA funds.
Note: The FY 2015 through FY 2018 teacher salary information includes the Academy for Classical Education (ACE) charter school teachers.

117

BIBB COUNTY SCHOOL DISTRICT
FREE & REDUCED PRICE LUNCH ELIGIBILITY1 LAST TEN FISCAL YEARS
(as of October 31 of each fiscal year)

Fiscal Year
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Number of Students Eligible for Free Meals

16,948

17,682

18,046

18,249

18,401

18,729

23,990

24,263

2

22,644

2

24,080

2

Number of Students Eligible for Reduced Price Meals
1,747 1,570 1,237 1,043 1,130 1,085
-

Total Number of Students Eligible for Free and Reduced Price Meals

18,695

19,252

19,283

19,292

19,531

19,814

23,990

24,263

2

22,644

2

24,080

2

Total Student Enrollment
(FTE)
24,968 25,109 24,961 24,730 24,508 24,180 24,354 24,457 23,988 24,110

% of Students Eligible for Reduced Price Meals
74.88% 76.67% 77.25% 78.01% 79.69% 81.94% 98.51% 99.21% 94.40% 99.88%

1 Source: Georgia Department of Education. Note: In fiscal year 2015, the School District implemented the Community Eligibility Provision (CEP), whereby all students are eligible to eat free and reimbursement is based on a pre-determined percentage of total meals served. The Academy for Classical Education (ACE) Charter School students are included in these totals.
2 Source: School District Records.

118

ELEMENTARY SCHOOLS ALEXANDER II MAGNET Grade levels served Square feet Capacity Enrollment BARDEN Grade levels served Square feet Capacity Enrollment BERND Grade levels served Square feet Capacity Enrollment BROOKDALE Grade levels served Square feet Capacity Enrollment BRUCE Grade levels served Square feet Capacity Enrollment BURDELL/HUNT MAGNET Grade levels served Square feet Capacity Enrollment BURGHARD Grade levels served Square feet Capacity Enrollment BURKE Grade levels served Square feet Capacity Enrollment CARTER Grade levels served Square feet Capacity Enrollment DANFORTH Grade levels served Square feet Capacity Enrollment HARTLEY Grade levels served Square feet Capacity Enrollment HEARD Grade levels served

BIBB COUNTY SCHOOL DISTRICT

SCHOOL DATA 19 LAST TEN FISCAL YEARS
FY 2009

FY 2010

FY 2011

FY 2012

K - Gr 5

80,263

554

28

572

14

Pre K - Gr 5

62,445

536

28

414

Pre K - Gr 5

60,102

27

480

28

525

Pre K - Gr 5

58,713

27

628

28

482

11

Pre K - Gr 5

58,271

27

443

28

540

K - Gr 5

62,181

573

28

488

Pre K - Gr 5

57,745

499

28

378

Pre K - Gr 5

53,812

517

28

352

Pre K - Gr 5

61,945

27

517

28

515

Pre K - Gr 5

50,140

462

28

358

Pre K - Gr 5

62,187

536

28

363

Pre K - Gr 5
119

K - Gr 5 80,263
554 545

K - Gr 5 63,559
554 546

K - Gr 5 63,559
554 552

Pre K - Gr 5 62,445 536 379

Pre K - Gr 5 62,445 536 387

K - Gr 5 62,445
536 367

Pre K - Gr 5 60,102 480 502

Pre K - Gr 5 60,102 480 473

Pre K - Gr 5 60,102 480 454

Pre K - Gr 5 58,713 628 412

Pre K - Gr 5 58,713 628 477

Pre K - Gr 5 58,713 628 480

Pre K - Gr 5 58,271 443 478

Pre K - Gr 5 58,271 443 468

Pre K - Gr 5 58,271 443 459

K - Gr 5 62,181
573 497

K - Gr 5 62,181
573 487

K - Gr 5 62,181
573 491

Pre K - Gr 5 57,745 499 388

Pre K - Gr 5 57,745 499 370

- 16

-

-

-

-

-

-

-

Pre K - Gr 5 57,745 499 361
-

Pre K - Gr 5 61,945 517 562

Pre K - Gr 5 61,945 517 570

Pre K - Gr 5 61,945 517 562

Pre K - Gr 5 50,140 462 350

Pre K - Gr 5 50,140 462 369

Pre K - Gr 5 50,140 462 279

Pre K - Gr 5

Pre K - Gr 5

62,187

62,187

536

536

384 21,16

374

Pre K - Gr 5 62,187 536 356

Pre K - Gr 5

Pre K - Gr 5 Pre K - Gr 5

FY 2013
K - Gr 5 63,559
554 536
K - Gr 5 62,445
536 372
Pre K - Gr 5 60,102 480 467
Pre K - Gr 5 58,713 628 481
Pre K - Gr 5 58,271 443 500
K - Gr 5 62,181
573 501
Pre K - Gr 5 57,745 499 325
-
Pre K - Gr 5 61,945 517 579
Pre K - Gr 5 50,140 462 302
Pre K - Gr 5 62,187 536 411
Pre K - Gr 5

FY 2014

FY 2015

FY 2016

FY 2017

FY 2018

K - Gr 5 63,559
554 586 14
K - Gr 5 62,445
536 373
Pre K - Gr 5 60,102 480 450
Pre K - Gr 5 58,713 628 459
Pre K - Gr 5 58,271 443 510
K - Gr 5 62,181
573 507
Pre K - Gr 5 57,745 499 320
-
Pre K - Gr 5 61,945 517 592
Pre K - Gr 5 50,140 462 331
Pre K - Gr 5 62,187 536 466
Pre K - Gr 5

K - Gr 5 63,559
554 526

K - Gr 5 80,263
554 524

K - Gr 5 62,445
536 374

K - Gr 5 62,445
536 287

Pre K - Gr 5 60,102 480 415

Pre K - Gr 5 56,654 480 400

Pre K - Gr 5 58,713 628 473

Pre K - Gr 5 59,879 628 407

Pre K - Gr 5 58,271 443 506

Pre K - Gr 5 58,271 443 469

K - Gr 5 62,181
573 542
Pre K - Gr 5 57,745 499 310

K - Gr 5 62,181
573 500
- 32 -

-

-

-

-

-

-

-

-

Pre K - Gr 5 61,945 517 543
Pre K - Gr 5 50,140 462 328

Pre K - Gr 5 61,945 517 505
- 33 -

Pre K - Gr 5 62,187 536 437

Pre K - Gr 5 62,187 536 436

Pre K - Gr 5

Pre K - Gr 5

120

K - Gr 5 80,263
554 518
- 37 -
Pre K - Gr 5 56,654 480 411
Pre K - Gr 5 59,879 628 376
Pre K - Gr 5 58,271 443 471
K - Gr 5 62,181
573 495
-
-
Pre K - Gr 5 61,945 517 468
-
Pre K - Gr 5 62,187 536 443
Pre K - Gr 5

K - Gr 5 80,263
525 39 509
- 37 - 39 -
Pre K - Gr 5 56,654 475 39 445
Pre K - Gr 5 59,879 625 39 371
Pre K - Gr 5 58,271 475 39 445
K - Gr 5 62,181
525 39 511
- 39 -
- 39 -
Pre K - Gr 5 61,945 512 39 468
- 39 -
Pre K - Gr 5 62,187 524 39 488
Pre K - Gr 5

Square feet Capacity Enrollment HERITAGE Grade levels served Square feet Capacity Enrollment INGRAM/PYE Grade levels served Square feet Capacity Enrollment JONES Grade levels served Square feet Capacity Enrollment LANE Grade levels served Square feet Capacity Enrollment MARTIN LUTHER KING JR (MLK) Grade levels served Square feet Capacity Enrollment MORGAN Grade levels served Square feet Capacity Enrollment PORTER Grade levels served Square feet Capacity Enrollment RICE Grade levels served Square feet Capacity Enrollment RILEY Grade levels served Square feet Capacity Enrollment SKYVIEW Grade levels served Square feet Capacity Enrollment SOUTHFIELD Grade levels served Square feet Capacity Enrollment

BIBB COUNTY SCHOOL DISTRICT

SCHOOL DATA 19 LAST TEN FISCAL YEARS

FY 2009

41,485

27

591

28

584

Pre K - Gr 5

72,146

27

610

28

715

11

Pre K - Gr 5

46,205

21

425

28

310

Pre K - Gr 5

63,368

27

443

28

448

Pre K - Gr 5

47,830

27

425

28

497

-

Pre K - Gr 5

54,839

480

28

485

11

Pre K - Gr 5

50,321

27

480

28

528

Pre K - Gr 5

56,364

27

499

28

513

Pre K - Gr 5

55,971

480

28

409

Pre K - Gr 5

76,463

27

591

28

703

11

-
121

FY 2010 41,485 591 632

FY 2011 41,485 591 652

FY 2012 41,485 591 652

Pre K - Gr 5 72,146 610 702

Pre K - Gr 5 72,146 610 751

Pre K - Gr 5 72,146 610 762

Pre K - Gr 5 75,492 591 632

Pre K - Gr 5

21

75,492

591

16

602

Pre K - Gr 5 75,492 591 579

Pre K - Gr 5 63,368 443 435

Pre K - Gr 5 63,368 443 410

Pre K - Gr 5 63,368 443 439

Pre K - Gr 5 47,830 425 511

Pre K - Gr 5 47,830 425 542

Pre K - Gr 5 47,830 425 535

-

-

-

-

-

-

-

-

-

-

-

-

Pre K - Gr 5 54,839 480 518

Pre K - Gr 5 54,839 480 509

Pre K - Gr 5 54,839 480 497

Pre K - Gr 5 50,321 480 542

Pre K - Gr 5 50,321 480 522

Pre K - Gr 5 50,321 480 508

Pre K - Gr 5 56,364 499 579

Pre K - Gr 5 56,364 499 558

Pre K - Gr 5 56,364 499 558

Pre K - Gr 5 55,971 480 444

Pre K - Gr 5 55,971 480 401

Pre K - Gr 5 55,971 480 432

Pre K - Gr 5 76,463 591 658

Pre K - Gr 5 76,463 591 566

Pre K - Gr 5 76,463 591 579

-

-

-

-

-

-

-

-

-

-

-

-

FY 2013 41,485 591 645
Pre K - Gr 5 72,146 610 819
Pre K - Gr 5 75,492 591 638
Pre K - Gr 5 63,368 443 417
Pre K - Gr 5 47,830 425 518
-
Pre K - Gr 5 54,839 480 526
Pre K - Gr 5 50,321 480 495
Pre K - Gr 5 56,364 499 484
Pre K - Gr 5 55,971 480 409
Pre K - Gr 5 76,463 591 545
-

FY 2014 41,485 591 586
Pre K - Gr 5 72,146 610 816
Pre K - Gr 5 75,492 591 668
Pre K - Gr 5 63,368 443 363
Pre K - Gr 5 47,830 425 518
-
Pre K - Gr 5 54,839 480 514
Pre K - Gr 5 50,321 480 477
Pre K - Gr 5 56,364 499 511
Pre K - Gr 5 55,971 480 420
Pre K - Gr 5 76,463 591 542
-

FY 2015 96,544 750 584

FY 2016 96,544 750 625

FY 2017 96,544 750 584

Pre K - Gr 5 72,146 610 765

Pre K - Gr 5 72,146 610 748

Pre K - Gr 5 72,146 610 727

Pre K - Gr 5 75,492 591 635
Pre K - Gr 5 63,368 443 335

Pre K - Gr 5 75,492 591 628
- 33 -

Pre K - Gr 5 75,492 591 476
-

Pre K - Gr 5 47,830 425 531

Pre K - Gr 5 47,830 425 503

Pre K - Gr 5 47,830 425 534

-
Pre K - Gr 5 54,839 480 503

Pre K - Gr 5 96,612 750 685
Pre K - Gr 5 54,839 480 414

Pre K - Gr 5 96,612 750 738
- 37 -

Pre K - Gr 5 50,321 480 461
Pre K - Gr 5 56,364 499 527

Pre K - Gr 5 50,321 480 455
- 32 -

Pre K - Gr 5 50,321 480 460
-

Pre K - Gr 5 55,971 480 409

Pre K - Gr 5 55,971 480 348

Pre K - Gr 5 55,971 480 370

Pre K - Gr 5 76,463 591 522

Pre K - Gr 5 76,463 591 515

Pre K - Gr 5 76,463 591 500

-

Pre K - Gr 5

-

114,883

-

900

-

807

122

Pre K - Gr 5 114,883 900 803

FY 2018 96,544 775 39 577
Pre K - Gr 5 72,146 650 39 765
Pre K - Gr 5 75,492 650 39 456
- 39 -
Pre K - Gr 5 47,830 438 39 477
Pre K - Gr 5 96,612 775 39 720
- 37 - 39 -
Pre K - Gr 5 50,321 475 39 418
- 39 -
Pre K - Gr 5 55,971 500 39 349
Pre K - Gr 5 76,463 675 39 496
Pre K - Gr 5 114,883 900 39 837

SPRINGDALE Grade levels served Square feet Capacity Enrollment TAYLOR Grade levels served Square feet Capacity Enrollment UNION Grade levels served Square feet Capacity Enrollment VETERANS Grade levels served Square feet Capacity Enrollment VINEVILLE MAGNET Grade levels served Square feet Capacity Enrollment WILLIAMS Grade levels served Square feet Capacity Enrollment
MIDDLE SCHOOLS APPLING Grade levels served Square feet Capacity Enrollment BALLARD Grade levels served Square feet Capacity Enrollment BLOOMFIELD Grade levels served Square feet Capacity Enrollment HOWARD Grade levels served Square feet Capacity Enrollment MILLER Grade levels served Square feet Capacity Enrollment RUTLAND

BIBB COUNTY SCHOOL DISTRICT

SCHOOL DATA 19 LAST TEN FISCAL YEARS

FY 2009

Pre K - Gr 5

72,276

27

628

28

622

Pre K - Gr 5

71,309

27

554

28

540

Pre K - Gr 5

71,683

27

591

28

686

11

-

K - Gr 5

69,629

27

499

28

476

Pre K - Gr 5

63,956

27

462

28

336

FY 2010
Pre K - Gr 5 72,276 628 622
Pre K - Gr 5 71,309 554 518
Pre K - Gr 5 71,683 591 667
-
K - Gr 5 69,629
499 504
Pre K - Gr 5 63,956 462 352

FY 2011

FY 2012

Pre K - Gr 5 72,276 628 662

Pre K - Gr 5 72,276 628 659

Pre K - Gr 5 71,309 554 567

Pre K - Gr 5 71,309 554 594

Pre K - Gr 5 71,683 591 623

Pre K - Gr 5 71,683 591 610

-

-

-

-

-

-

-

-

K - Gr 5 69,629
499 516

K - Gr 5 69,629
499 535

Pre K - Gr 5 63,956 462 350

Pre K - Gr 5 63,956 462 309

Gr 6 - Gr 8

109,674

27

784

28

686

Gr 6 - Gr 8

108,398

27

804

28

604

11

Gr 6 - Gr 8

114,883

27

941

28

610

11

Gr 6 - Gr 8

126,479

27

902

28

939

11

Gr 6 - Gr 8

116,050

27

804

28

778

123

Gr 6 - Gr 8 109,674 784 682
Gr 6 - Gr 8 108,398 804 587
Gr 6 - Gr 8 114,883 941 541
Gr 6 - Gr 8 126,479 902 918
Gr 6 - Gr 8 116,050 804 845

Gr 6 - Gr 8 109,674 784 630
Gr 6 - Gr 8 108,398 804 525
Gr 6 - Gr 8 114,883 941 512
Gr 6 - Gr 8 126,479 902 1,032
Gr 6 - Gr 8 116,050 804 774

Gr 6 - Gr 8 109,674 784 629
Gr 6 - Gr 8 108,398 804 484
Gr 6 - Gr 8 114,883 941 511
Gr 6 - Gr 8 126,479 902 1,013
Gr 6 - Gr 8 116,050 804 785

FY 2013
Pre K - Gr 5 72,276 628 693
Pre K - Gr 5 71,309 554 564
Pre K - Gr 5 71,683 591 612
-
K - Gr 5 69,629
499 534
Pre K - Gr 5 63,956 462 308

FY 2014
Pre K - Gr 5 72,276 628 684
Pre K - Gr 5 71,309 554 567
Pre K - Gr 5 71,683 591 587
-
K - Gr 5 69,629
499 555 14
Pre K - Gr 5 63,956 462 311

FY 2015
Pre K - Gr 5 72,276 628 622
Pre K - Gr 5 71,309 554 568
Pre K - Gr 5 71,683 591 653
-
K - Gr 5 69,629
499 560
Pre K - Gr 5 63,956 462 296

FY 2016
Pre K - Gr 5 72,276 628 570
Pre K - Gr 5 71,309 554 526
Pre K - Gr 5 71,683 591 548
-
PreK - Gr 5 69,629 499 503
Pre K - Gr 5 63,956 462 279

FY 2017
Pre K - Gr 5 72,276 628 557
Pre K - Gr 5 71,309 554 552
Pre K - Gr 5 71,683 591 507
Pre K - Gr 5 109,200 775 811
PreK - Gr 5 69,629 499 534
Pre K - Gr 5 63,956 462 289

FY 2018
Pre K - Gr 5 72,276 650 39 616
Pre K - Gr 5 71,309 625 39 553
Pre K - Gr 5 71,683 650 39 505
Pre K - Gr 5 109,200 775 39 850
PreK - Gr 5 69,629 500 39 499
Pre K - Gr 5 63,956 475 39 337

Gr 6 - Gr 8 109,674 784 604
Gr 6 - Gr 8 108,398 804 455
Gr 6 - Gr 8 114,883 941 526
Gr 6 - Gr 8 126,479 902 1,023
Gr 6 - Gr 8 116,050 804 809

Gr 6 - Gr 8 109,674 784 649
Gr 6 - Gr 8 108,398 804 401
Gr 6 - Gr 8 114,883 941 473
Gr 6 - Gr 8 126,479 902 1,024
Gr 6 - Gr 8 116,050 804 881

Gr 6 - Gr 8 109,674 784 634
Gr 6 - Gr 8 108,398 804 390
Gr 6 - Gr 8 114,883 941 467
Gr 6 - Gr 8 126,479 902 921
Gr 6 - Gr 8 116,050 804 849

Gr 6 - Gr 8 109,674 784 609
Gr 6 - Gr 8 108,398 804 737
- 34 -
Gr 6 - Gr 8 126,479 902 933
Gr 6 - Gr 8 128,564 804 792

124

Gr 6 - Gr 8 109,674 784 583
Gr 6 - Gr 8 108,398 804 756
-
Gr 6 - Gr 8 126,479 902 926
Gr 6 - Gr 8 128,564 804 763

Gr 6 - Gr 8 109,674 800 39 559
Gr 6 - Gr 8 108,398 875 39 725
- 39 -
Gr 6 - Gr 8 126,479 875 39 993
Gr 6 - Gr 8 128,564 800 39 668

BIBB COUNTY SCHOOL DISTRICT

Grade levels served Square feet Capacity Enrollment WEAVER Grade levels served Square feet Capacity Enrollment
HIGH SCHOOLS CENTRAL Grade levels served Square feet Capacity Enrollment HOWARD Grade levels served Square feet Capacity Enrollment HUTCHINGS Grade levels served Square feet Capacity Enrollment NORTHEAST Grade levels served Square feet Capacity Enrollment RUTLAND Grade levels served Square feet Capacity Enrollment SOUTHWEST Grade levels served Square feet Capacity Enrollment WESTSIDE Grade levels served Square feet Capacity Enrollment
CHARTER SCHOOL ACADEMY FOR CLASSICAL EDUCATION Grade levels served Square feet Capacity Enrollment MACON CHARTER ACADEMY Grade levels served Square feet Capacity Enrollment

SCHOOL DATA 19 LAST TEN FISCAL YEARS

FY 2009

Gr 6 - Gr 8

126,479

27

902

28

998

Gr 6 - Gr 8

120,277

27

1,039

28

884

FY 2010 Gr 6 - Gr 8
126,479 902
1,030
Gr 6 - Gr 8 120,277 1,039 818

FY 2011 Gr 6 - Gr 8
126,479 902
1,023
Gr 6 - Gr 8 120,277 1,039 898

FY 2012 Gr 6 - Gr 8
126,479 902 977
Gr 6 - Gr 8 120,277 1,039 964

Gr 9 - Gr 12

107,025

861

28

1,119

29

Gr 9 - Gr 11

164,155

29

1,008

753

Gr 9 - Gr 12

132,693

27

798

28

380

Gr 9 - Gr 12

231,914

27

1,008

28

883

Gr 9 - Gr 12

159,322

27

861

28

1,125

Gr 9 - Gr 12

155,184

1,407

28

855

Gr 9 - Gr 12

183,187

27

1,071

28

1,293

29

Gr 9 - Gr 12 202,844 1,008 1,094

Gr 9 - Gr 12

19

202,844

1,008

1,073

Gr 9 - Gr 12 202,844 1,008 1,035

Gr 9 - Gr 12 177,130 1,008 1,103

Gr 9 - Gr 12

3

177,130

1,008

29

1,134

Gr 9 - Gr 12 177,130 1,008 1,158

Gr 9 - Gr 12 132,693 798 346

Gr 9 - Gr 12 100,074 798 296

Gr 9 - Gr 12 100,074 798 318

Gr 9 - Gr 12 231,914 1,008 835

Gr 9 - Gr 12 231,914 1,008 813

Gr 9 - Gr 12 231,914 1,008 736

Gr 9 - Gr 12 159,322 861 1,176

Gr 9 - Gr 12 159,322 861 1,132

Gr 9 - Gr 12 159,322 861 1,126

Gr 9 - Gr 12 192,511 1,008 933

Gr 9 - Gr 12

7

192,511

1,008

994

Gr 9 - Gr 12 192,511 1,008 969

Gr 9 - Gr 12 183,187 1,071 1,123

Gr 9 - Gr 12 183,187 1,071 1,140

Gr 9 - Gr 12 183,187 1,071 1,198

-
-
125

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

FY 2013 Gr 6 - Gr 8
126,479 902 969
Gr 6 - Gr 8 120,277 1,039 924

FY 2014 Gr 6 - Gr 8
126,479 902 942
Gr 6 - Gr 8 120,277 1,039 875

FY 2015 Gr 6 - Gr 8
126,479 902 881
Gr 6 - Gr 8 120,277 1,039 841

FY 2016 Gr 6 - Gr 8
126,479 902 912
Gr 6 - Gr 8 120,277 1,039 788

FY 2017 Gr 6 - Gr 8
126,479 902 896
Gr 6 - Gr 8 120,277 1,039 809

FY 2018 Gr 6 - Gr 8
126,479 875 39 883
Gr 6 - Gr 8 120,277 950 39 914

Gr 9 - Gr 12 202,844 1,008 1,049
Gr 9 - Gr 12 177,130 1,008 1,228
Gr 9 - Gr 12 100,074 798 319
Gr 9 - Gr 12 231,914 1,008 660
Gr 9 - Gr 12 159,322 861 1,094
Gr 9 - Gr 12 192,511 1,008 995
Gr 9 - Gr 12 183,187 1,071 1,141

Gr 9 - Gr 12 202,844 1,008 1,063
Gr 9 - Gr 12 177,130 1,008 1,137
Gr 9 - Gr 12 100,074 798 295
Gr 9 - Gr 12 231,914 1,008 660
Gr 9 - Gr 12 159,322 861 1,042
Gr 9 - Gr 12 192,511 1,008 930
Gr 9 - Gr 12 183,187 1,071 1,046

Gr 9 - Gr 12 202,844 1,008 1,082
Gr 9 - Gr 12 177,130 1,008 1,186
Gr 9 - Gr 12 100,074 798 217
Gr 9 - Gr 12 231,914 1,008 630
Gr 9 - Gr 12 159,322 861 1,062
Gr 9 - Gr 12 192,511 1,008 854
Gr 9 - Gr 12 183,187 1,071 1,109

Gr 9 - Gr 12 202,844 1,008 1,097
Gr 9 - Gr 12 177,130 1,008 1,300
- 35 -
Gr 9 - Gr 12 231,914 1,008 746
Gr 9 - Gr 12 159,322 861 1,087
Gr 9 - Gr 12 192,511 1,008 866
Gr 9 - Gr 12 183,187 1,071 1,094

Gr 9 - Gr 12 202,844 1,008 1,143
Gr 9 - Gr 12 177,130 1,008 1,256
-
Gr 9 - Gr 12 231,914 1,008 743
Gr 9 - Gr 12 159,322 861 1,053
Gr 9 - Gr 12 192,511 1,008 852
Gr 9 - Gr 12 183,187 1,071 1,128

Gr 9 - Gr 12 202,844 1,225 39 1,118
Gr 9 - Gr 12 186,130 1,200 39 1,249
- 39 -
Gr 9 - Gr 12 231,914 1,525 39 741
Gr 9 - Gr 12 159,322 950 39 1,024
Gr 9 - Gr 12 192,511 1,262 39 830
Gr 9 - Gr 12 183,187 1,138 39 1,137

-

-

K - Gr 8

K - Gr 9

K - Gr 10

K - Gr 10

-

-

130,000 31

130,000

130,000

130,000

-

-

1,127

1,127

1,127

1,127 39

-

-

759

1,130

1,394

1,541

-

-

-

K - Gr 8

-

-

-

60,000

-

-

-

900

-

-

-

640

126

38

38

BIBB COUNTY SCHOOL DISTRICT

SPECIALTY SCHOOLS BARDEN ACADEMY OF EXCELLENCE Grade levels served Square feet Capacity Enrollment BLOOMFIELD ACADEMY OF EXCELLENCE Grade levels served Square feet Capacity Enrollment BUTLER Grade levels served Square feet Capacity Enrollment ELAM ALEXANDER Grade levels served Square feet Capacity Enrollment HUTCHINGS ACADEMY OF EXCELLENCE Grade levels served Square feet Capacity Enrollment NEEL ALTERNATIVE Grade levels served Square feet Capacity Enrollment NORTHWOODS ACADEMY Grade levels served Square feet Capacity Enrollment RENAISSANCE/TEEN PARENT CENTER Grade levels served Square feet Capacity Enrollment

SCHOOL DATA 19 LAST TEN FISCAL YEARS
FY 2009

FY 2010

FY 2011

FY 2012

-

-

Pre K

22,023

171

28

108

K - Gr 6

27,909

27

190

28

-

18

-

Gr 6 - Gr 12

35,481

27

285

28

-

18

-

Gr 6 - Gr 12

10

22,564

27

114

28

-

17

-

-

-

8

-

-

-

K - Gr 6 27,909
190 - 18

-
Gr 6 - Gr 8 9 35,481 285 - 18
PreK - K 8 39,398 210 159

-

-
-
-
K - Gr 6 27,909
190 -
-
-
PreK 39,398
210 182
-

-
-
-
K - Gr 6 27,909
190 - 18
-
-
PreK - K 39,398 210 197
-

127

FY 2013

FY 2014

FY 2015

K - Gr 5 4,086 120 -
Gr 6 - Gr 8 3,150 96 -
-
K - Gr 6 27,909
190 - 18
Gr 9 - Gr 12 4,226 144 -
-
PreK - K 39,398 210 -
-

K - Gr 5 4,086 120 -
Gr 6 - Gr 8 3,150 96 -
-
K - Gr 6 27,909
190 - 18
Gr 9 - Gr 12 4,226 144 -
-
PreK - K 39,398 210 -
-

K - Gr 5 4,086 120 -
Gr 6 - Gr 8 3,150 96 -
-
K - Gr 6 27,909
190 - 18
Gr 9 - Gr 12 4,226 144 -
-
PreK - K 39,398 210 -
-

FY 2016
- 36 -
- 36 -
-
K - Gr 6 27,909
190 - 18
- 36 -
-
PreK - K 39,398 210 -
-

FY 2017
-
-
-
K - Gr 6 27,909
190 - 18
-
-
PreK - K 39,398 210 -
-

FY 2018
-
-
-
K - Gr 6 53,986
462 39 - 18
- 39 -
- 39 -
PreK - K 39,398 100 39 -
- 39 -

128

BIBB COUNTY SCHOOL DISTRICT

SCHOOL DATA 19 LAST TEN FISCAL YEARS

R J WILLIAMS COMPLEX Grade levels served Square feet Capacity Enrollment SOAR ACADEMY Grade levels served Square feet Capacity Enrollment

FY 2009
-
-

FY 2010
-
-

FY 2011
-
-

FY 2012
-
-

Sub Total

24,854

25,003

24,910

24,709

Students housed in Residential Treatment Facilities
Grand Total

114 24,968

106 25,109

51 24,961

21 24,730

1 Footnote not used. 2 Footnote not used.
3 New addition of a field house to facility.
4 Footnote not used.
5 Bruce Elementary and Weir Elementary Schools began the process of merging during the 2003-2004 school year. During that school year, students in grades K-2 were housed at Weir and the students in grades 3-5 were housed in Bruce. During the 2004-2005 school year, all students were housed at the Weir facility while the Bruce facility was being completely rebuilt. For the 2005-2006 school year, Weir closed and the students moved into a newly constructed facility located on the Bruce Elementary School site.

6 Footnote not used.
7 Newly constructed Southwest High School opened for students for the 2009-2010 school year. The new facility was built on the same site and the old facility was demolished. 8 The Butler Early Childhood Center was closed at the end of the 2008-2009 school year. The early childhood program was moved to the newly constructed Northwoods Academy at the beginning of the 2009-2010 school year. In the 2012-2013 school year, Northwoods Academy was reclassified by the GA Department of Education as a program rather than a school and the Pre-K students were counted at their home.

129

FY 2013
-
-
24,477
31 24,508

FY 2014
-
-
24,131
49 24,180

FY 2015
-
-
24,307
48 24,355

FY 2016
-
-
24,413
44 24,457

FY 2017
Gr 9 - Gr 12 56,715 225 - 18
Gr 6 - Gr 12 100,074 798 - 18
23,926
62 23,988

FY 2018
Gr 9 - Gr 12 56,715 225 39 - 18
Gr 6 - Gr 12 100,074 798 39 - 18
24,074
26 24,100

130

BIBB COUNTY SCHOOL DISTRICT
SCHOOL DATA 19 LAST TEN FISCAL YEARS
9 At the beginning of the 2009-2010 school year, students in grades 9-12 who were assigned to an alternative setting through the evidentiary hearing process were enrolled in the newly contracted Ombudsman program rather than being assigned to Neel Academy. Students in middle schools who were assigned to an alternative setting were still assigned to Neel Academy. At the beginning of the 2010-2011 school year, the Ombudsman program began serving middle and high school students and Neel Academy was closed. The Ombudsman program was discontinued at the end of the 2011-2012 year and the Bibb Academy of Excellence was established at the beginning of the 2012-2013 school year with three locations at Barden Elementary School, Bloomfield Middle School, and Hutchings Career Center. 10 The Renaissance Academy/Teen Parent Center closed at the end of the 2008-2009 school year. 11 Enrollment fluctuations caused by redistricting. 12 Footnote not used. 13 Footnote not used. 14 Additional classes added at magnet school. 15 The square footage for the adjoining Central Kitchen was inadvertently included in the square footage for the Hutchings Career Center. The square 16 Burke School was closed at the end of the 2008-2009 school year and the students were rezoned to Hartley and Ingram/Pye during the 2009-2010 school year.
17 For the 2003-2004 and the 2004-2005 school years only, separate FTE counts were reported for the Renaissance Academy and the Teen Parent Center. During the 2005-2006 school year, the District reverted back to its prior practice of reporting these students at their home schools.
18 Students are counted at their home schools. 19 Newly constructed Central High School opened for students for the 2009-2010 school year. The new facility was built on the same site and the old facility was demolished. 20 Footnote not used.
21 Hamilton School was closed at the end of FY 2007 and the students were rezoned to Hartley and Ingram/Pye. The Ingram/Pye students were housed at the former Hamilton School facility during the two years of reconstruction of the Ingram/Pye facility. The students moved into the new facility in the 200922 Footnote not used. 23 Footnote not used. 24 Footnote not used. 25 Footnote not used. 26 Footnote not used. 27 New software was used in the computation of the square footage of each of the District's facilities as a part of the development process for the new Local Facilities Plan (LFP). The new software eliminated square footage for areas such as overhangs and provided a much more comprehensive and accurate accounting for the square footage at each facility and resulted in fluctuations in square footage from FY 2008 to FY 2009 in some facilities. 28 Capacity for each facility is determined each year using a formula approved by the Board which factors in the number of permanent classrooms available at a school, the maximum class size requirements of the GA DOE and a utilization factor which takes into account the different class sizes for extra curricular activities and times when the classrooms are not being utilized. 29 Newly constructed Howard High School opened for students in grades 9-11 for the 2008-2009 school year and began serving students in grades 9-12 in the 2009-2010 school year. Students were redistricted from Central High School and Westside High School. 30 The District purchased a web-based software facility maintenance program in July 2011. As the floor plans were being transferred to the data base, it was discovered that a building which existed before the renovations in FY 2002 had been demolished, but the square footage was still being reported.
31 The Academy for Classical Education (ACE) charter school building is 200,000 square feet, but as of June 30, 2015 they only occupied 130,000 square feet of this space. 32 Burghard and Rice Elementary Schools were closed at the end of the FY 2015 school year. The students were consolidated and moved into the Southfield Elementary facility, which is the former Bloomfield Middle School building, at the beginning of the FY 2015-2016 school year. 33 Danforth and Jones Elementary Schools were closed at the end of the FY 2015 school year. The students were consolidated and moved into the newly constructed Martin Luther King Jr. (MLK) Elementary facility at the beginning of the FY 2015-2016 school year. 34 Bloomfield Middle School was closed at the end of the FY 2015 school year. The students were consolidated with the Ballard Hudson Middle School students and moved into the Ballard Hudson Middle School facility at the beginning of the FY 2015-2016 school year. 35 Hutchings College and Career Academy was closed at the end of the FY 2015 school year. The students were dispersed to their zoned high school.
36 Barden Academy of Excellence, Bloomfield Academy of Excellence and Hutchings Academy of Excellence were closed at the end of the FY 2015 school year with the opening of the new Bibb County Alternative School. The Bibb County Alternative School is located on the campus of the former Hutchings 37 Barden and Morgan Elementary Schools were closed at the end of the FY 2016 school year. The students were consolidated and moved into the newly constructed Veterans Elementary facility at the beginning of the FY 2016-2017 school year. This new facility is located on the old Morgan Elementary site.
38 Macon Charter Academy, the District's second charter school, was closed in August 2016.
39 School capacity figures have been updated to refelct the FTE Mid-Range calculated per GADOE regulation 160-5-4.16(a)4.
Notes: All other enrollment fluctuations are due to the transient population in this community. Pre-Kindergarten classes are moved between sites based on the number of applications received.
131

IV. S I N G L E A U D I T S E C T I O N

INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT
OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
To the Members of the Board of Education of the Bibb County School District
Macon, Georgia
We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the Bibb County School District as of and for the year ended June 30, 2018, and the related notes to the financial statements, which collectively comprise the Bibb County School District's basic financial statements and have issued our report thereon dated January 28, 2019. This report does not include the results of our testing of internal control over financial reporting or compliance and other matters that have been reported in the separately issued financial statements and reports of the discretely presented component unit, the Academy for Classical Education. Our report includes a reference to a change in accounting principle resulting from the implementation of Government Accounting Standards Board (GASB) Statement No. 75, Accounting and Financial Reporting for Post-Employment Benefits Other Than Pensions.
Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the Bibb County School District's internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Bibb County School District's internal control. Accordingly, we do not express an opinion on the effectiveness of the Bibb County School District's internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.
300 MULBERRY STREET, SUITE 300 POST OFFICE BOX 1877 MACON, GEORGIA 31202-1877 478-464-8000 FAX 478-464-8051 www.mjcpa.com MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS

Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. We did identify a certain deficiency in internal control, described in the accompanying schedule of findings and questioned costs as item 2018-001 that we consider to be a material weakness.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Bibb County School District's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
The Bibb County School District's Response to Findings
The Bibb County School District's response to the finding identified in our audit is described in the accompanying schedule of findings and questioned costs. The Bibb County School District's response was not subjected to the auditing procedures applied in the audit of the financial statements and, accordingly, we express no opinion on it.
Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity's internal control and compliance. Accordingly, this communication is not suitable for any other purpose.
Macon, Georgia January 28, 2019
133

INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE FOR EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE REQUIRED BY
THE UNIFORM GUIDANCE
To the Members of the Board of Education of the Bibb County School District
Macon, Georgia
Report on Compliance for Each Major Federal Program
We have audited the Bibb County School District's compliance with the types of compliance requirements described in the OMB Compliance Supplement that could have a direct and material effect on each of the Bibb County School District's major federal programs for the year ended June 30, 2018. The Bibb County School District's major federal programs are identified in the summary of audit results section of the accompanying schedule of findings and questioned costs.
Management's Responsibility
Management is responsible for compliance with federal statutes, regulations, and the terms and conditions of its federal awards applicable to its federal programs.
Auditor's Responsibility
Our responsibility is to express an opinion on compliance for each of the Bibb County School District's major federal programs based on our audit of the types of compliance requirements referred to above. We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) standards and the Uniform Guidance require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal program occurred. An audit includes examining, on a test basis, evidence about the Bibb County School District's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances.
We believe that our audit provides a reasonable basis for our opinion on compliance for each major federal program. However, our audit does not provide a legal determination of the Bibb County School District's compliance.
300 MULBERRY STREET, SUITE 300 POST OFFICE BOX 1877 MACON, GEORGIA 31202-1877 478-464-8000 FAX 478-464-8051 www.mjcpa.com MEMBERS OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS

Opinion on Each Major Federal Program
In our opinion, the Bibb County School District complied, in all material respects, with the compliance requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended June 30, 2018.
Other Matters
The results of our auditing procedures disclosed instances of noncompliance, which are required to be reported in accordance with the Uniform Guidance and which are described in the accompanying schedule of findings and questioned costs as item 2018-002. Our opinion on each major federal program is not modified with respect to this matter.
Bibb County School District's response to the noncompliance finding identified in our audit is described in the accompanying schedule of findings and questioned costs. Bibb County School District's response was not subjected to the auditing procedures applied in the audit of compliance and, accordingly, we express no opinion on the response.
Report on Internal Control Over Compliance
Management of the Bibb County School District is responsible for establishing and maintaining effective internal control over compliance with the types of compliance requirements referred to above. In planning and performing our audit of compliance, we considered the Bibb County School District's internal control over compliance with the types of requirements that could have a direct and material effect on each major federal program to determine the auditing procedures that are appropriate in the circumstances for the purpose of expressing an opinion on compliance for each major federal program and to test and report on internal control over compliance in accordance with the Uniform Guidance but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness of the Bibb County School District's internal control over compliance.
A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal program on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program will not be prevented, or detected and corrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal program that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance.
135

Our consideration of internal control over compliance was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies and, therefore, material weaknesses or significant deficiencies may exist that were not identified. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses. However, we identified a certain deficiency in internal control over compliance, as described in the accompanying schedule of findings and questioned costs as item 2018-002 that we consider to be a significant deficiency. Bibb County School District's response to the internal control over compliance finding identified in our audit is described in the accompanying schedule of findings and questioned costs. Bibb County School District's response was not subjected to the auditing procedures applied in the audit of compliance and, accordingly, we express no opinion on the response. The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of the Uniform Guidance. Accordingly, this report is not suitable for any other purpose.
Macon, Georgia January 28, 2019
136

BIBB COUNTY SCHOOL DISTRICT
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS JUNE 30, 2018

Federal Grantor/Pass-Through Grantor/Program Title
U.S. DEPARTMENT OF AGRICULTURE: Passed through Georgia Department of Education: Child Nutrition Cluster USDA - Food Distribution School Breakfast Program National School Lunch Program School Snack Program Total Child Nutrition Cluster
Fresh Fruit and Vegetable Program Total U. S. Department of Agriculture
U.S. DEPARTMENT OF DEFENSE Direct Program: Junior R.O.T.C. Total U. S. Department of Defense
U.S. DEPARTMENT OF EDUCATION: Direct Programs: GEAR UP Carol M. White Physical Education Program Grant Subtotal direct programs, Department of Education
Passed through Georgia Department of Education: Title I Programs - Improving Academic Achievement Title I Programs - School Improvement Grant Total Title I, Part A
Title I Programs - School Improvement Grant
Title I Programs - Migrant Education
Special Education Cluster Title VI-B Flowthrough Title VI-B PL 94-142 SED Centers IDEA-Capacity Building Grant High Cost Pool Title VI-B Preschool Incentive Total, Special Education Cluster
Title II - Part A - Supporting Effective Instruction State Grants
Title III - Part A (Continued)

Federal CFDA Number
10.555 10.553 10.555 10.555
10.582
Unknown
84.334 84.215F
84.010 84.010
84.377 84.011
84.027 84.027 84.027 84.027 84.173
84.367 84.365

Contract or Project Number

Total Expenditures

N/A

$

1,084,167

N/A

4,281,884

N/A

10,678,324

N/A

124,053

16,168,428

N/A

341,392

16,509,820

06/07

360,987 360,987

P334A110258 S215F160333

1,845,132 653,829
2,498,961

551-100-30 551-200-576
607/691 127
39 184 712 625 37
569/143 565

11,910,137 803,495
12,713,632

$

2,664,164

16,975

5,871,395 748,424 59,124 46,140 97,397
6,822,480
1,314,287
42,870

137

BIBB COUNTY SCHOOL DISTRICT
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS JUNE 30, 2018

Federal Grantor/Pass-Through Grantor/Program Title
U.S. DEPARTMENT OF EDUCATION (CONTINUED):
Title IV-B, 21st Century Community Learning Centers
Vocational Education - Basic Grants to States
Education of Homeless Children and Youth
Title IV - Part A Student Support and Academic Enrichment
Title I Programs, Part E - Striving Readers Cluster Striving Readers - Kindergarten - Grade 5 Striving Readers - Middle Schools Striving Readers - High Schools Striving Readers - Birth - Five years Total, Title I, Part E Cluster
Total Passed through Georgia Department of Education
Total U. S. Department of Education Total Expenditures of Federal Awards

Federal CFDA Number
84.287
84.048 84.196 84.424
84.371 84.371 84.371 84.371

Contract or Project Number

Total Expenditures

578
429/430 573-100-55
721
665 663 664 662

$

579,635

329,253 54,623
228,036

6,853 3,038 2,917 2,812 15,620

24,781,575

27,280,536

$

44,151,343

138

BIBB COUNTY SCHOOL DISTRICT
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS FOR THE FISCAL YEAR ENDED JUNE 30, 2018

NOTE 1.
NOTE 2. NOTE 3. NOTE 4.

BASIS OF PRESENTATION
The Schedule of Expenditures of Federal Awards includes the federal grant activity of the Bibb County School District and is presented on the accrual basis of accounting.
The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the financial statements.
DE MINIMIS COST RATE
The School District elected not to use the 10% de minimis cost rate for the year ended June 30, 2018.
NON-CASH AWARDS
The School District received non-cash awards under the National School Lunch Program, CFDA 10.555, in the amount of $1,084,167, for the year ended June 30, 2018.
SUBRECIPIENTS
The School District did not pass through any funds to subrecipients in the year ended June 30, 2018.

139

BIBB COUNTY SCHOOL DISTRICT
SCHEDULE OF FINDINGS AND QUESTIONED COSTS FOR THE FISCAL YEAR ENDED JUNE 30, 2018

A.

SUMMARY OF AUDIT RESULTS

Financial Statements Type of auditor's report issued

Internal control over financial reporting: Material weaknesses identified?

Significant deficiencies identified not considered to be material weaknesses?
Noncompliance material to financial statements noted?

Federal Awards Internal control over major programs: Material weaknesses identified?

Significant deficiencies identified not considered to be material weaknesses?

Type of auditor's report issued on compliance for major programs

Any audit findings disclosed that are required to be reported in accordance with the Uniform Gudiance?

(Continued)

Unmodified

X Yes

No

Yes X None Reported Yes X No

Yes X No

X Yes

None Reported

Unmodified

X Yes

No

140

BIBB COUNTY SCHOOL DISTRICT
SCHEDULE OF FINDINGS AND QUESTIONED COSTS FOR THE FISCAL YEAR ENDED JUNE 30, 2018

A.

SUMMARY OF AUDIT RESULTS (CONTINUED)

Identification of major programs:

84.010 84.010

10.555 10.553 10.555 10.555
Dollar threshold used to distinguish between Type A and Type B programs:
Auditee qualified as low-risk auditee?

U.S. Department of Education
Title I Cluster Title I Programs - Improving Academic Achievement Title I-A - School Improvement Grant
U.S. Department of Agriculture School Nutrition Cluster National School Lunch Program School Breakfast Program USDA Food Distribution School Snack Program
$1,324,540
Yes X No

141

BIBB COUNTY SCHOOL DISTRICT
SCHEDULE OF FINDINGS AND QUESTIONED COSTS FOR THE FISCAL YEAR ENDED JUNE 30, 2018

B.

FINDINGS: FINANCIAL STATEMENTS AUDIT

2018-001.

Accounts Receivables and Revenues

Criteria: Generally accepted accounting principles require accounts receivable and related revenues be recognized in the accounting period in which they are measurable and available to finance expenditures of the current period.

Condition: At year-end, accounts receivable and related revenues were not properly recorded in the General Fund and the SPLOST Fund.

Context: During our testing of accounts receivable and revenues, we noted errors in reconciling a listing of grant receipts with the general ledger. Additionally, the District did not record a receivable for amounts related to fiscal year 2018 that were not received until July 2018.

Effect: Audit adjustments were required to reflect accounts receivable and related revenues due and payable to the District as of year-end. These adjustments were as follows:

General Fund net effect to decrease intergovernmental revenue and receivables in the amount of $234,218 in order to reconcile the listing of grant receipts to the general ledger; and the net effect to increase intergovernmental revenue and receivables in the amount of $30,426, in order to properly record state revenue.
SPLOST Fund net effect to increase intergovernmental receivable and related revenue in the amount of $2,745,394, in order to record the current year accrual of SPLOST revenue.

Recommendation: We recommend internal controls over accounts receivable and related revenues be strengthened to ensure amounts due and payable to the District as of year-end are properly reported.

Views of Responsible Officials and Planned Corrective Action: We concur. Additional controls will be implemented to ensure accounts receivable is properly reported..

142

BIBB COUNTY SCHOOL DISTRICT
SCHEDULE OF FINDINGS AND QUESTIONED COSTS FOR THE FISCAL YEAR ENDED JUNE 30, 2018

C.

FINDINGS AND QUESTIONED COSTS: MAJOR FEDERAL AWARD PROGRAMS AUDIT

2018-002.

Controls over Allowable Costs and Allowable Activities Child Nutrition Cluster, CFDA 10.553 and 10.555

Criteria: The OMB Compliance supplement requires that costs charged to federal programs are adequately documented and that payments are proper and are in line with the principles of 2 CFR part 200, subpart E.

Condition: Improper costs were charged to the Child Nutrition Cluster grant. In addition, the District did not adequately document a federal expenditure charged to the Child Nutrition Cluster grant.

Context: The District charged time loss expenditures to the Child Nutrition Cluster grant for non-Child Nutrition employees during the year ended June 30, 2018. In addition, one Child Nutrition Cluster invoice was paid prior to management's approval.

Effect: The District's controls over its allowable costs/costs princples were insufficient as it relates to payroll expenditures.

Recommendation: We recommend the District strengthen internal controls over its federal expenditures, to ensure the District only charges allowed costs to the grant and that costs are adequately documented.

Views of Responsible Officials and Planned Corrective Action: We concur with the finding. Additional controls will be implemented to ensure only allowable costs/activities are charged to federal programs and that federal expenditures are adequately documented.

143

BIBB COUNTY SCHOOL DISTRICT
SCHEDULE OF PRIOR YEAR FINDINGS FOR THE FISCAL YEAR ENDED JUNE 30, 2018

2017-001.

Compliance with Reporting of Financial Data Child Nutrition Cluster, CFDA 10.553 and 10.555

Criteria: The Georgia Department of Education requires local educational agencies receiving Child Nutrition Services funds to submit monthly financial data. Data must be submitted no later than the 15th calendar day of the month following the claim month. As established by the Uniform Guidance Reporting requirements, financial reports must be accurate and complete.

Condition: The submissions of the monthly financial data reports were untimely and the reports were materially incorrect and incomplete.

Auditee Response/Status: Resolved.

144

MANAGEMENT'S CORRECTIVE ACTION PLAN FOR THE FISCAL YEAR ENDED JUNE 30, 2018

2018-001.

Accounts Receivables and Revenues

Name of the Contact Person Responsible for Corrective Action Plan: Vicki Hulett, Executive Director of Accounting

Corrective Action Plan: All grants and accounts receivable items will be reviewed at year end for accuracy. All deposits received in the two months after year end will be scrutinized for necessary recording of receivables and revenues for the previous year end. Checklists of items which are normal receivables at year end will be used to help with this task.

Anticipated Completion Date: Fiscal year 2019

2018-002.

Compliance and Controls over Allowable Costs and Allowable Activities Child Nutrition Cluster, CFDA 10.553 and 10.555

Name of the Contact Person Responsible for Corrective Action Plan: Timikel Sharpe, School Nutrition Director; Myra Abrams, School Nutrition Director HR

Corrective Action Plan: All School Nutrition payrolls will be submitted to the School Nutrition Department to Myra Abrams, Director HR and Timikel Sharpe, Executive Director for review after payroll has been completed. School Nutrition will submit timesheets to payroll with proper documentation for payroll processing according to the payroll calendar. When a final payroll proof is run, the Central Office School Nutrition Accountant will review the payroll by using the employee rosters supplied by School Nutrition. Payroll has to meet payroll calendar pay dates, therefore the next School Nutrition review takes place after payroll has been posted but before School Nutrition reimburses the General Fund for the School Nutrition payroll. The Accounting Department sends the posted payroll to School Nutrition. Myra Abrams will review and analyze the reports for accuracy. Any questions, errors, or discrepancies will be discussed with the School Nutrition Director, noted and reported to Janeseia Roberts in the Accounting Department for correction and verification prior to approval being granted. Approval will be given in writing by Mrs. Abrams. School Nutrition will be given at least 24 hours to review and submit a response. The Central Office School Nutrition Accountant will make corrections by journal entry and send a copy of the correction to the School Nutrition office. Payment to the General Fund will take place after any necessary corrections have been completed.

Anticipated Completion Date: Fiscal year 2019

145