Cobb County School District comprehensive annual financial report, fiscal year 2011-2012

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Area 4

Bryce Marshall
Palmer MS Brandon Tinney
Cooper MS Amber Tuck

7th Grade

8th Grade

Area 3

Angela Su
Dodgen MS Abigail Corona

8th Grade

Area 3

Grace Snuggs
Daniell MS Patricia Huynh
Wheeler HS Gracie Williams

Area 6

12th Grade

Area 1

Area 2

Area 5

7th Grade

12th Grade

4th Grade

Area 1

1st Grade

Frey ES Mingo Rollins III

Osborne HS Estefania De Los Santos

Lindley MS Diego Magana Mata

Area 4

Area 2

4th Grade

5th Grade

Bryant ES Andrew Lee
Murdock ES

3rd Grade

Fair Oaks ES

Area 5

Pitner ES Hunter Dunn
Pine Mountain MS

Area 3

8th Grade

On behalf of the Cobb County Board of Education and the Financial Services Division, we are proud to present the 2012 Comprehensive Annual Financial Report.
We hope you enjoy the exemplary artwork displayed on the cover and within the pages of this report. The artists, from kindergarten through grade 12, of the Cobb County School District, continue a long tradition of transforming a financial document into an art gallery. Their works of art reflect the extraordinary standards in art education that have become a hallmark of the District. Please take a moment and escape into their world - a world of objects, places, and people for you to see, wonder about, and enjoy.
As Chief Financial Officer, along with the Financial Services Division, and particularly Steve Barnette and the Accounting Services staff, we would like to express our deep appreciation to the art teachers and Judy Condon, Supervisor of Art Education, for their passion and dedication to the art of teaching art. These works will become part of the District's art collection for many years to come. To the studentartist, thank you for turning our 2012 Comprehensive Annual Financial Report into a beautiful work of art.

COBB COUNTY SCHOOL DISTRICT COMPREHENSIVE ANNUAL FINANCIAL REPORT
TABLE OF CONTENTS FOR THE YEAR ENDED JUNE 30, 2012
INTRODUCTORY SECTION Letter of Transmittal Certificate of Achievement / GFOA Certificate of Excellence / ASBO Cobb County School District - Function and Composition Cobb County School District Elected Officials and Superintendent of Schools Cobb County School District - Superintendent's Cabinet Cobb County School District - Organizational Chart
FINANCIAL SECTION Independent Auditor's Report Management's Discussion and Analysis Basic Financial Statements District-wide Financial Statements: Statement of Net Assets Statement of Activities Fund Financial Statements: Balance Sheet - Governmental Funds Reconciliation of the Governmental Funds Balance Sheet to the
Statement of Net Assets

PAGE i-v vi vii viii ix x xi
1-3 4-15
16 17
18 19

Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the Statement of Activities
Statement of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Non-GAAP Budgetary Basis) General Fund
Statement of Fund Net Assets Proprietary Funds
Statement of Revenues, Expenses, and Changes in Fund Net Assets Proprietary Funds
Statement of Cash Flows - Proprietary Funds
Statement of Fiduciary Assets and Liabilities Fiduciary Funds
Notes to the Basic Financial Statements
Combining and Individual Fund Financial Statements and Schedules:
Combining and Individual Fund Statements and Schedules Nonmajor Governmental Funds
Combining Balance Sheet - Nonmajor Governmental Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Nonmajor Governmental Funds
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual (Non-GAAP Budgetary Basis) Annually Budgeted Nonmajor Governmental Funds
Internal Service Funds Fund Descriptions
Combining Statement of Fund Net Assets - Internal Service Funds
Combining Statement of Revenues, Expenses, and Changes in Fund Net Assets - Internal Service Funds

PAGE 20
21
22 23 24 25 26 27-49
50-52 53-57 58-62
63-80 81
82-83 84-85

Combining Statement of Cash Flows - Internal Service Funds Fiduciary Funds Fund Descriptions Combining Statement of Fiduciary Assets and Liabilities Fiduciary Funds Combining Statement of Changes in Fiduciary Assets and Liabilities Fiduciary Funds Supplementary Schedules: SPLOST II - Special Purpose Local Option Sales Tax Projects SPLOST III - Special Purpose Local Option Sales Tax Projects
STATISTICAL SECTION (UNAUDITED) Statistical Section Contents Net Assets by Component - Last Ten Fiscal Years Changes in Net Assets Last Ten Fiscal Years Fund Balances, Governmental Funds Last Ten Fiscal Years Changes in Fund Balances, Governmental Funds
Last Ten Fiscal Years Property Tax Levies and Collections Assessed and Estimated Actual Value of Taxable Property -
Last Ten Fiscal Years Direct and Overlapping Property Tax Rates Last Ten Fiscal Years Principal Property Taxpayers December 31, 2010 and Nine Years Ago Legal Debt Margin Information Last Ten Fiscal Years

PAGE 86-87
88 89 90
91-92 93-94
95 96-97 98-99 100-101 102-103 104 105 106 107 108

Legal Debt Margin Information Fiscal Year 2012 Ratios of Outstanding Debt by Type Last Ten Fiscal Years Ratio of Net General Bonded Debt to Estimated Actual Value and
Net Bonded Debt per Capita Last Ten Fiscal Years Computation of Direct and Overlapping General Obligation Debt Cobb County Demographic and Economic Statistics
Last Ten Fiscal Years Principal Employers Current Year and Nine Years Ago Number of Personnel and Ratio of Pupils to Professional Personnel -
Last Ten Fiscal Years Operating Statistics Last Ten Fiscal Years General Fund Expenditures by Function Last Ten Fiscal Years School Buildings Last Ten Fiscal Years School Lunch and Breakfast Program Last Ten Fiscal Years Teachers' Salary Schedule Last Twenty Fiscal Years General Fund Revenues by Source Last Ten Fiscal Years Property Digest Reductions Due to Exemptions Last Ten Fiscal Years Comparison of Metropolitan Atlanta School District Property Tax Rates Results of All Bond and Sales Tax Referendums Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Expenditures Last Ten Fiscal Years Cobb County Bank Deposits, Construction and Taxable Property Values Last Ten Fiscal Years

PAGE
109 110
111 112
113 114
115 116 117 118-125 126 127 128 129 130 131
132
133

Administrative Salary Schedule Schedule of Insurance in Force Number of Schools Last Twenty Fiscal Years Number of High School Graduates and Average Daily Enrollment and
Attendance Last Twenty Fiscal Years Active Enrollment by Grade Level Last Ten Fiscal Years Classroom Buildings, Grade Levels and Acreage

PAGE 134
135-136 137
138 139 140-141

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Empowering Dreams for the Future

P.O. Box 1088 Marietta, GA 30061 Telephone: (770) 426-3300 www.cobbk12.org

December 6, 2012

To the Members of the Cobb County Board of Education and Citizens of Cobb County, Georgia:

We are pleased to submit to you the comprehensive annual financial report (CAFR) of the Cobb County School District (District) for the fiscal year ended June 30, 2012. This report conforms to generally accepted accounting principles as applicable to governmental entities. The Financial Services Division prepared this report. Responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation, including all disclosures, rests with the District's administration and is presented for your careful review.

We believe the data, as presented, is accurate in all material aspects; that it is presented in a manner designed to fairly set forth the financial position and results of operations of the District as measured by the financial activity of its various funds; and that all disclosures necessary to enable the reader to gain the maximum understanding of the District's financial activity have been included. A comprehensive framework of internal control is in place to give reasonable assurance that the financial statements are free of any material misstatements. Because the cost of internal controls should not exceed anticipated benefits, the objective is to provide reasonable, rather than absolute, assurance that the financial statements are free of any material misstatements.

Readers of this report are encouraged to consider the information presented here in conjunction with additional information presented in the Management's Discussion and Analysis beginning on page four of this report.

______________________________________________________________________________

PROFILE OF THE SCHOOL DISTRICT ______________________________________________________________________________

Cobb County School District is one of two public school districts located in Cobb County, Georgia. The District serves the entire county area with the exception of the City of Marietta, which has its own independent school district. It provides a program of public education from kindergarten through grade twelve. The purpose and responsibility of the District is to provide a thorough and efficient educational system for the children enrolled in public schools within its

BOARD OF EDUCATION

Scott Sweeney, Chairman David Morgan, Vice Chairman Lynnda Eagle Timothy Stultz Kathleen Angelucci David Banks Alison Bartlett

SUPERINTENDENT

Michael Hinojosa, Ed.D

boundaries whereby each child has access to programs and services that are appropriate to his or her educational needs.
The District is the second largest school system in Georgia and the 24th largest in the United States with an average daily enrollment of 106,502. The District is governed by a Board of Education consisting of seven members elected from seven county posts. Members serve fouryear terms and each year appoint a chairperson and vice-chairperson. The Board appoints a Superintendent to oversee the day-to-day administration of the School District.
Dr. Michael Hinojosa currently serves as the 24th Superintendent of the Cobb County School District. He holds a doctorate in education from the University of Texas at Austin. With a career in public education that spans more than three decades, Dr. Hinojosa's most recent experience is with the Dallas Independent School District in Texas, where he served as Superintendent/CEO. The Dallas Independent School District is the 14th largest school system in the United States. Dr. Hinojosa's recognitions include Texas Association of School Board's 2002 Superintendent of the Year and University of Texas at Austin's 2005 Superintendent of the Year. Texas Tech University's College of Education has honored Dr. Hinojosa as a Distinguished Alumnus.
The District continued its tradition of strong academic achievement. Here are a few of the many accomplishments from FY2012:
District eighth graders improved their writing test scores and continue to outperform their peers on the 2012 Eighth Grade Writing Assessment. Eighty-six percent of Cobb students ranked in either the "meets" or "exceeds" category, four points higher than the statewide percentage and equal to the metro comparison group.
District fifth graders improved their writing test scores and continue to outperform their peers on the 2012 Eighth Grade Writing Assessment. Eighty-four percent of Cobb students ranked in either the "meets" or "exceeds" category, four points higher than the statewide percentage and equal to the metro comparison group.
District graduates topped national averages in all subject areas of ACT, indicating the Class of 2012 was better prepared for the rigor of college studies than their peers across the state or nation. The results mark the seventh consecutive year in which Cobb graduates have bested national averages in all four subject areas tested: English, Math, Reading and Science.
District graduates continued to exceed state and national averages for the SAT. The Class of 2012 remained well above average for the state of Georgia and the nation, despite a 2-point decrease from last year. Seniors in the class of 2012 posted an overall score of 1520 (combined Reading, Math and Writing totals), besting their statewide peers' average by 68 points and the national average by 22 points.
More details can be obtained through the District's Communications Department.
The District has reviewed its operating entity definition in order to ensure conformance with the Governmental Accounting Standards Board Statement No. 14, "The Financial Reporting Entity."
ii

This report includes all funds and account groups of the District. The District is not included in any other reporting entity, and no other entities are included within this report.
The District maintains budgetary controls to ensure compliance with legal provisions embodied in the annual appropriated budget approved by the Cobb County Board of Education. Activities of the General Fund, Special Revenue Funds and Student Information Systems are included in the annual appropriated budget. Capital Projects Funds are budgeted on a multi-year, projectlength basis. The level of budgetary control (that is, the level at which expenditures cannot legally exceed the appropriated amount) is established by function within an individual fund.
_____________________________________________________________________________
ECONOMIC CONDITION AND OUTLOOK ______________________________________________________________________________
The District is located in the northwest quadrant of the Atlanta metropolitan area, one of the country's top growth areas. Metropolitan Atlanta is a national center for finance, transportation, distribution and communications. These factors, coupled with a mild climate, beautiful natural environment, affordable housing and a first-class international airport help to consistently place Atlanta at or near the top of surveys identifying the most desirable U. S. cities in which to locate a business. Cobb County is a leader among the metropolitan counties in all economic areas. In fiscal year 2011 (most recent figures available), Cobb County had one of the metropolitan area's highest average household incomes at $57,906, an unemployment rate of 8.9%, and a growing population which increased from 628,800 in 2002 to 699,500 in 2011. Projected student enrollment for the 2013 fiscal year is 106,591.
In fiscal year 2012 the District's gross property digest decreased by 5.7% over the 2011 digest as compared to a decrease of 8.6% the previous year and a total decrease of 10.7% over the last five years. This was a reflection of the nationwide erosion of real estate values during the recent economic downturn.
In addition to a decline in property tax revenue, the District encountered financial challenges during fiscal year 2012 due to $72.4 million austerity cuts in state funding. We expect continuing challenges in the future due to continued cuts in state funding resulting from depressed state tax revenues, as well as lower property tax revenue due to continuing depressed real estate values.
______________________________________________________________________________
LONG-TERM FINANCIAL PLANNING ______________________________________________________________________________
The District anticipates meeting its projected capital improvement needs through December 2013 through county sales tax revenues. In September 2008, the citizens of Cobb County voted to renew a one-percent local option sales tax for education over a period of five years beginning January 1, 2009 and ending December 31, 2013. The revenue generated from sales tax has been
iii

or will be used to construct new schools, improve existing schools, construct major additions to many schools, improve technology and security throughout the District and acquire land for future expansion. A schedule of District school buildings and their age can be found on pages 140 and 141, in the statistical section.
_____________________________________________________________________________
OTHER INFORMATION ______________________________________________________________________________
Independent Audit: The financial statements have been audited by Mauldin & Jenkins, LLC, whose opinion is expressed on page 1. The District complies with the requirements of the Single Audit Act and associated reports and schedules are presented in the last section of this report.
Financial Reporting Awards: Every year since 1980, our comprehensive annual financial report has earned a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA). Additionally, the District's comprehensive annual financial report received the Association of School Business Officials' (ASBO) Certificate of Excellence in Financial Reporting every year since 1984.
These prestigious awards are made only to government units which publish a comprehensive annual financial report that is easily readable, efficiently organized, and conforming to program standards and satisfies generally accepted accounting principles and applicable legal requirements. The awards are valid for a period of one year only. We believe the accompanying report continues to conform to award eligibility, and will submit it for determination as appropriate.
Budget Presentation Award: The District prepares an official budget document each year which is issued as a separate report. Since 1990, the district has received the Distinguished Budget Presentation Award from GFOA. In order to receive this award, the District must publish a budget document that meets program criteria as a policy document, a financial plan, an operations guide, and as a communications device. The award is valid for a period of one year only. We have received the Meritorious Budget Award from ASBO every year since 2005. The criteria required by ASBO includes an introductory, organizational, financial and information section. We believe the most recent budget continues to conform to program requirements, and we are submitting it to GFOA and ASBO to determine its eligibility for another award.
Acknowledgments: We wish to express our appreciation to Steve Barnette, Director of Accounting Services, and to the entire staff of the Financial Services Division whose dedicated efforts have enabled this report to be prepared on a timely basis. We would especially like to recognize the students of our District for providing the beautiful artwork for our Comprehensive Annual Financial Report.
iv

The active involvement and professional support of Mauldin & Jenkins, LLC Audit Supervisor, Christopher McKellar and his auditing staff have been instrumental in the prompt completion of the associated audit of this report . In closing, sincere gratitude is expressed to the Board of Education for their leadership and dedication to the Cobb County School District, its taxpayers, employees, and , most importantly, its students. To the citizens of the Cobb County School District, please accept our gratitude for your support of our successful school district. Respectfully submitted,
Dr. . ael Hinojosa Superintendent Brad R. Johnson Chief Financial Officer
~
v

Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
Cobb County School District Georgia
For its Comprehensive Annual Financial Report
for the Fiscal Year Ended June 30, 2011
A Certificate of Achievement for Excellence in Financial
Reporting is presented by the Government Finance Officers

Association of the United States and Canada to
government units and public employee retirement

systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in government accounting
and financial reporting.

~bP~ President
~~~
Executive Director
vi

Association of School Business Officials International

fJ1ie Certificate of~etlence in Pinancia[~ortiTlfJ }lwan[
is presented to
Cobb County School District

PorIts Comprehensive }lnnua[Pinancia[~ort (ClIPW)

Portlie Pisca[%arfEtul"eaJune 3D, 2011

The CAFR has been reviewed and met or exceeded
ASBO International's Certificate of Excellence standards


Brian L. Mee, SFO, RSBA President

John D. Musso, CAE, RSBA Executive Director
vii

COBB COUNTY SCHOOL DISTRICT FUNCTION AND COMPOSITION JUNE 30, 2012

All matters relating to education and operations in the Cobb County School District are governed and controlled by the Board of Education as provided by Georgia law. The Board has the responsibility to maintain a uniform system of public schools providing quality education for all young people of Cobb County. With the advice of the superintendent, the Board must determine the policies and prescribe the rules and regulations for the management and administration of the school system.
Generally, the Board holds public meetings twice a month to conduct normal business with special sessions as needed. The Board is composed of seven members who are each elected for four years from one of seven geographical districts in the county. The Board elects a chairman and vice-chairman from the seven members to govern the body for a one year period. As of June 30, 2012 the members of the Board and years of expiration of their terms are as follows:

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

Name Mr. Scott Sweeney Mr. David Morgan Mr. Tim Stultz Ms. Kathleen Angelucci Ms. Alison Bartlett Mr. David Banks Ms. Lynnda-Crowder Eagle

Term Expires December 31, 2014 December 31, 2012 December 31, 2014 December 31, 2014 December 31, 2012 December 31, 2012 December 31, 2012

viii

COBB COUNTY SCHOOL DISTRICT ELECTED OFFICIALS AND SUPERINTENDENT OF SCHOOLS
JUNE 30, 2012

LYNNDA CROWDER-EAGLE
POST 1
4 Years Served

TIM STULTZ
POST 2 2 Years Served

DAVID MORGAN
POST 3 4 Years Served

KATHLEEN ANGELUCCI
POST 4
2 Years Served

DAVID BANKS
POST 5 4 Years Served

SCOTT SWEENEY
POST 6 2 Years Served

ALISON BARTLETT
POST 7
4 Years Served

ix

MICHAEL HINOJOSA
SUPERINTENDENT

COBB COUNTY SCHOOL DISTRICT SUPERINTENDENT'S CABINET JUNE 30, 2012

Michael Hinojosa Alice Stouder Chris Ragsdale Cheryl Hungerford Mike Addison Judi Jones Michael Shanahan Jay Dillon Amy Krause Carol Seay Rob Benson Dale Gaddis Doreen Griffeth Ed Thayer James Carter Angela Huff

Superintendent Deputy Superintendent for Leadership and Learning Deputy Superintendent for Operations Chief of Staff Chief Financial Officer Chief Academic Officer Chief Human Resources Officer Director of Communications Assistant Superintendent, Curriculum and Instruction Assistant Superintendent, Special Student Services Area Assistant Superintendent, Area 1 Area Assistant Superintendent, Area 2 Area Assistant Superintendent, Area 3 Area Assistant Superintendent, Area 4 Area Assistant Superintendent, Area 5 Area Assistant Superintendent, Area 6

x

COBB COUNTY SCHOOL DISTRICT ORGANIZATIONAL CHART JUNE 30, 2012
xi

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jIm6er cruel(

Prey Elementary


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INDEPENDENT AUDITOR'S REPORT
To the Superintendent and Members of the Cobb County Board of Education Marietta, Georgia
We have audited the accompanying financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of the Cobb County Board of Education, as of and for the year ended June 30, 2012, which collectively comprise the Cobb County Board of Education's basic financial statements as listed in the table of contents. These financial statements are the responsibility of the Cobb County Board of Education's management. 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 of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinions.
In our opinion, the financial statements referred to previously present fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of the Cobb County Board of Education as of June 30, 2012, 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 conformity with accounting principles generally accepted in the United States of America.

In accordance with Government Auditing Standards, we have also issued our report dated December 6, 2012, on our consideration of the Cobb County Board of Education's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, and other matters. The purpose of that report is 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 internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit.
Accounting principles generally accepted in the United States of America require that the Management's Discussion and Analysis on pages 4 through 15 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 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.
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Cobb County Board of Education's financial statements. The combining and individual nonmajor fund financial statements and schedules, the SPLOST II schedule of expenditures of Special Purpose Local Option Sales Tax Projects, and the SPLOST III schedule of expenditures of Special Purpose Local Option Sales Tax Projects, are presented for purposes of additional analysis and are not a required part of the financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining and individual nonmajor fund financial statements and schedules, the SPLOST II schedule of expenditures of Special Purpose Local Option Sales Tax Projects, and the SPLOST III schedule of expenditures of Special Purpose Local Option Sales Tax Projects, are fairly stated in all material respects in relation to the financial statements as a whole.
2

Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Cobb County Board of Education's basic financial statements. The introductory and statistical sections are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information has 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 it. Atlanta, Georgia December 6, 2012
3

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MANAGEMENT'S DISCUSSION
AND ANALYSIS

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COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2012
The discussion and analysis of the Cobb County School District's (subsequently referred to as the District) financial performance provides an overall review of the District's financial activities for the fiscal year ended June 30, 2012. The intent of this discussion and analysis is to look at the District's financial performance as a whole. Readers should also review the transmittal letter and complete financial statements, with notes, to enhance their understanding of the District's financial performance.
Financial Highlights
Key financial highlights for 2012 are as follows:
Total net assets increased from $1,423.5 million in 2011 to $1,454.7 million in 2012, an increase of $31.2 million.
Total revenue decreased from $1,122.1 million in 2011 to $1,105.3 million in 2012, a decrease of $16.8 million. Revenue for 2012 was $31.2 million more than expenses.
Total expenses increased from $1,050.4 million in 2011 to $1,074.1 million in 2012, an increase of $23.7 million.
Overview of the Financial Statements
This discussion and analysis serves as an introduction to the District's basic financial statements. The basic financial statements comprise three components: 1) District-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves.
Districtwide Financial Statements
The District-wide financial statements provide readers with a broad overview of the District's finances, in a manner similar to a private-sector business.
The Statement of Net Assets presents information on all of the District's assets and liabilities, with the difference between the two reported as net assets. Over time, increases or decreases in net assets may serve as a useful indicator of whether the financial position of the District is improving or deteriorating.
4

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2012
The Statement of Activities presents information showing how the District's net assets changed during the most recent fiscal year. Changes in net assets appear as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses appear in this statement for some items that will result in future fiscal period cash flows (e.g., uncollected taxes and earned but unused vacation leave).
Fund Financial Statements
A fund is a grouping of related accounts used to maintain control over resources that have been segregated for specific activities or objectives. The District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with financerelated legal requirements. District funds are in one of three categories: governmental funds, proprietary funds, and fiduciary funds.
Governmental Funds
Most of the District's activities are reported in governmental funds. The governmental fund statements focus on how money flows in and out of those funds and the balances left at year-end that are available for spending in future periods. These statements also provide a detailed short-term view of the District's general government operations and the basic services it provides. Governmental fund information helps you determine whether there are more or fewer financial resources that can be spent in the near future to finance educational programs. The District maintains numerous governmental funds with the majority of activity occurring in the General Fund.
Proprietary Funds
Proprietary funds are those used to account for ongoing organizations and activities which are similar to those found in the private sector. The District's proprietary funds are internal service funds and report activities that provide supplies and services for its other programs and activities. The District's internal service funds consist of the Unemployment Compensation Fund, the Self-Insurance Fund, the Flexible Benefits Fund, the Dental Insurance Fund, and the Purchasing/Warehouse Fund.
Fiduciary Funds
The District is the trustee, or fiduciary, for assets that belong to others. The District's fiduciary funds include the Student Activity Fund and the Payroll Withholding Fund. The District is responsible for ensuring that the assets in these funds are used exclusively for their intended purposes for the benefit of those to whom the assets belong. The District excludes these funds from the district-wide financial statements because it cannot use these assets to finance its operations.
5

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2012 District-wide Financial Analysis The Condensed Statement of Net Assets Table (Table I) below summarizes and compares the Statement of Net Assets for 2012 and 2011. In 2012, the District's net assets increased 2.2%, or $31.2 million, over the prior year due primarily to a decrease in other liabilities. Total current and other assets reflected a net decrease of 30.3%, or $147.0 million, primarily due to a decrease in total cash and cash equivalents of 14.7%, or $145.6 million. Cash and cash equivalents decreased in the General Fund, Special Purpose Local Option Sales Tax (SPLOST) Funds, and the other governmental funds by $13.1 million, $112.5 million, $20.0 million, respectfully. Total receivables declined by $1.7 million, while inventories increased by $0.4 million. Capital assets increased by 10.3%, or $115.1 million, while total liabilities decreased by 35.5%, or $63.1 million, resulting in a modest increase in net capital assets. Construction was completed on two new elementary schools and a loan of $62.0 million, used to fund capital asset construction projects, was paid off.
6

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2012
Table I Condensed Statement of Net Assets (Amounts Expressed In Millions)

$76.3

$147.5

$12.2

$102.2

$1,230.9

Long-Term Liabilities Restricted

Other Liabilities Unrestricted

Invested in Capital Assets

Governmental Activities
As s e ts : Current and Other Assets Capital Assets
Total Asse ts
Liabilitie s : Long-Term Liabilities Other Liabilities
Total Liabilities
Net Asse ts: Invested in Capital Assets Restricted Unrestricted
Total Net Assets

2011

2012

Change 2011-2012

$ 485.3 1,115.7 1,601.0

$

338.3

1,230.8

1,569.1

-30.3% 10.3% -2.0%

7.7 169.8 177.5

12.2 102.2 114.4

58.4% -39.8% -35.5%

1,066.6 185.3 171.6
$ 1,423.5

1,230.9 76.3
147.5 $ 1,454.7

15.4% -58.8% -14.0%
2.2%

7

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2012 Changes in Net Assets from Operating Results The Changes in Net Assets from Operating Results Table (Table II) below summarizes and compares the Statement of Activities for 2012 and 2011. Revenues In 2012, the District's total revenues decreased 1.5%, or $16.8 million, over the prior year due primarily to a decrease in operating grants and contributions.
Charges for services increased by 2.1%, or $1.2 million primarily due to a modest increase in student activity fee revenue.
Operating grants and contributions decreased by 7.6%, or $39.4 million, primarily due to an instructional revenue decrease of 9.6%, or $39.7 million.
General property taxes decreased 4.2%, or $17.7 million, due to the reduction of property values and an increase in property foreclosures.
All other revenue sources increased by 17.9%, or $1.0 million.
Expenses In 2012, the District's total expenses increased 2.3%, or $23.7 million, over the prior year due primarily to an increase in the cost of providing school and administrative services.
School and administrative services increased 15.5%, or $23.6 million. Maintenance and operations increased 6.2%, or $3.5 million. Student transportation increased 2.5%, or $1.1 million due to increased fuel costs. Instruction decreased by 1.1%, or $7.5 million.
8

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2012
Table II Changes in Net Assets from Operating Results (Amounts Expressed In Millions)

$1,300 $1,200 $1,100 $1,000
$900 $800 $700 $600 $500 $400 $300 $200 $100
$0

Revenues

2011

2012

Governmental Activities
Revenues: Program Revenues: Charges for Services Operating Grants and Contributions Capital Grants and Contributions General Revenues: Taxes Intergovernmental Other
Total Revenues Expenses: Instruction Pupil and Instructional Services School and Administrative Services Student Transportation Maintenance and Operations Student Activities Interest and Fiscal Charges
Total Expenses
Increase in Net Assets Beginning Net Assets Ending Net Assets

Other Intergovernmental Taxes Capital Grants Operating Grants Charges for Services

$1,200 $1,100 $1,000
$900 $800 $700 $600 $500 $400 $300 $200 $100
$0

Expenses

2011 2011

2012

Interest & Fiscal Chrg Student Activites
Maintenance
Transportation
School & Admin Serv Pupil & Instr Serv
Instruction

Change

2012

2011-2012

$

58.2 $

59.4

518.3

478.9

1.1

30.8

537.4 1.5 5.6
1,122.1

528.5 1.1 6.6
1,105.3

689.7 79.4 152.1 43.6 56.6 28.9 0.1 1,050.4

682.2 81.5 175.7 44.7 60.1 29.8 0.1 1,074.1

71.7 1,351.8

31.2 1,423.5

$

1,423.5 $ 1,454.7

2.1% -7.6% 2700.0%
-1.7% -26.7% 17.9% -1.5%
-1.1% 2.6% 15.5% 2.5% 6.2% 3.1% 2.3%
-56.5% 5.3% 2.2%

9

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2012
Table III Net Cost of Governmental Activities (Amounts Expressed In Millions)

Total and Net Costs of Services - 2012

$700

$600

$500

$400

$300

$200

$100

$0

Instruction

Pupil/Instr Service Sch/Adm Service

Transp

Maint/Oper

Other

Net Cost

Total Cost

--Total Cost of Services--

Change

2011

2012

2011-2012

--Net Cost of Services--

Change

2011

2012

2011-2012

Instruction

$ 689.7 $ 682.2

Pupil and Instructional Services

79.4

81.5

School and Administrative Services

152.1

175.7

Student Transportation

43.6

44.7

Maintenance and Operations

56.6

60.1

Other

29.0

29.9

Total

$ 1,050.4 $ 1,074.1

-1.1% $ 235.6 $ 241.5

2.6%

47.3

50.6

15.5%

96.0

114.5

2.5%

37.9

39.0

6.2%

55.7

59.2

3.1%

0.3

0.2

2.3% $ 472.8 $ 505.0

2.5% 7.0% 19.3% 2.9% 6.3% -33.3%
6.8%

Governmental Activities The Net Cost of Governmental Activities Table (Table III) presents the total and net cost of six major District activities: Instruction, Pupil and Instructional Services, School and Administrative Services, Student Transportation, Maintenance and Operations, and other.
Net Cost of Services is the total cost less fees generated by the activities and intergovernmental revenue provided for specific programs. The net cost shows the financial burden on the District's taxpayers by each activity. The total cost of governmental services in 2012 was $1,074.1 million. Users of the District's programs financed $59.4 million of the costs. Federal and State grants, subsidized programs and contributions financed $509.7 million of the cost. District taxpayers financed the remaining costs of 2012 which totaled $505.0 million.
10

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2012
The School District's Funds
The District ended fiscal year 2012 with a healthy fund balance in its governmental funds. The combined balance of all governmental funds, at $228.1 million, was lower than 2011's ending balance of $307.4 million. The decline in fund balance of $79.4 million, or 25.8%, was driven by capital outlays. SPLOST III, SPLOST II, and County-Wide Building declined by $30.1 million, $28.1 million, and $7.1 million, respectively. The General Fund's fund balance declined by $13.1 million, or 8.9%. This decline was forecasted in the FY2012 Budget. Despite continued cuts in state funding, the District maintains a strong cash position from which to meet future financial obligations.
General Fund Budgetary Highlights
The 2012 budget balanced the challenges of student growth, lower student/teacher ratios, and reductions in state funding for education, while maintaining an adequate fund balance reserve to ensure financial stability.
The most significant fund for the District is the General Fund, funded primarily through state revenue and local property tax revenue. The State of Georgia is required to maintain a balanced budget (a constitutional requirement in Georgia) and with a challenging economy, the State of Georgia issued budget reductions to all school districts in Georgia. In addition to its regular budgetary cycle, the State of Georgia imposed austerity reductions of $85.9 million, $69.8 million, and $72.4 million in fiscal years 2010, 2011, and 2012 respectively.
The 2012 original budget for the General Fund was approved with $817.3 million in revenue and $851.8 million in expenditures, with the expectation of using $34.5 million in fund balance in order to balance the budget. During the course of the year, the board increased the expenditures of the General Fund budget to $863.6 million, in order to bring forward amounts for encumbrances from the prior year budget into the current year budget.
For 2012, actual General Fund revenue was $9.5 million more than the final revised budget, a variance of only 1.2%. General Fund expenditures were $23.8 million less than the final revised budget, a variance of only 2.8%. The ability to budget within such a low variance to actual is the result of careful examination of revenue and expense assumptions and trending data. The district's careful implementation of significant spending cuts and service reductions over the past several years, along with prudent management of federal, state, and local resources, have left the district in a better financial position than many had anticipated in this difficult economic climate.
11

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2012
General Fund Balance
The unassigned General Fund balance at June 30, 2012 was $98.6 million. This represents 43 days of general fund expenditures. The Board of Education made a concerted effort to maintain adequate reserves for the District. This performance is noteworthy when considered in light of the substantial reductions in state and local funding detailed in the above section.
Other Governmental Funds
Capital Projects Funds
The District uses Capital Projects Funds to account for school construction and improvement projects which, prior to 1999, were financed primarily through bond issues. In September of 2003, Cobb County voters overwhelmingly approved a five-year extension of a Special Purpose Local Option Sales Tax (SPLOST) II to finance construction of new schools and other capital projects. SPLOST II expired in December 2008. In September of 2008, voters again approved another five-year extension. SPLOST III focuses on revitalizing schools. Collections of the tax began on January 1, 2009. The SPLOST II fund had expenditures of $6.0 million for the year ended June 30, 2012 and a fund balance of $22.9 million. A full listing of remaining SPLOST II projects can be located on pages 91 - 92. The Board of Education will continue to address contingencies in 2012. The SPLOST III fund had expenditures of $183.4 million and a fund balance of $33.2 million. A full listing of SPLOST III projects can be located on pages 93 - 94.
Nonmajor Governmental Funds
The Nonmajor Governmental Funds had aggregate expenditures of $163.6 million and aggregate fund balances of $61.4 million. Funds with the highest expenditures were School Nutrition at $51.8 million, Special Education at $22.7 million, Title I at $18.5 million, and Local School Funds at $29.8 million. Funds ending the year with the highest fund balances were SPLOST II at $22.9 million, School Nutrition at $21.9 million, Local School Funds at $8.0 million, and District-Wide Building at $4.0 million. The fund balance of Nonmajor Governmental Funds, in aggregate, decreased from $97.6 million in 2011 to $61.5 million in 2012, a decrease of $36.1 million. This decrease was primarily due to the continued expending of SPLOST II and District-wide Building Fund outlays for capital projects. Descriptions of these funds can be located on page 50 of the Notes to the Basic Financial Statements.
12

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2012 Capital Assets and Debt Administration Capital Assets The Capital Assets, Net of Depreciation (Table IV) below summarizes and compares the capital assets for 2012 and 2011. Capital assets increased 10.3% from $1,115.7 million in 2011 to $1,230.9 million in 2012, an increase of $115.2 million. Buildings and Improvements increased by $105.0 million, or 12.2%, due to construction projects funded by SPLOST III. Equipment increased by 2.9 million, or 11.5%. Library books and textbooks decreased by $1.9 million, or 7.2%. More detailed information about capital assets can be found in Note 5 of the Notes to the Basic Financial Statements.
13

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2012
Table IV Capital Assets, Net of Depreciation (Amounts Expressed In Millions)

Capital Assets, Net - 2012

$28.2

$24.5

$115.0

$99.0

$964.2
Land Construction in Progress Buildings and Improvements Equipment Library Books and Textbooks
Total

Land Construction in Progress Buildings and Improvements Equipment Library Books and Textbooks

2011

2012

Change 2011-2012

$ 106.9 $ 115.0

97.9 859.2

99.0 964.2

25.3

28.2

26.4

24.5

$ 1,115.7 $ 1,230.9

7.6% 1.1% 12.2% 11.5% -7.2% 10.3%

14

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2012 Long-Term Obligations As of June 30, 2012, the District had $7.7 million in outstanding long-term obligations for compensated absences. More detailed information about long-term obligations can be found in Notes 10 and 13 of the Notes to the Basic Financial Statements. Factors Bearing on the District's Future We are fortunate that the Cobb County School District is debt free which has resulted in a more favorable financial position even with the impact of the global economy on our local economy. The continued support of our schools by the public and by local community organizations and businesses is also an integral part of our ability to educate our students. This financial report is designed to provide a general overview of Cobb County School District's finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to Financial Services Division, Cobb County School District, 440 Glover Street, Marietta, Georgia, 30060.
15

COBB COUNTY SCHOOL DISTRICT STATEMENT OF NET ASSETS JUNE 30, 2012
(amounts expressed in thousands)
ASSETS: Cash and Cash Equivalents Receivables (net of allowance for uncollectables):
Taxes Federal and State Aid Accounts Accrued Interest Prepaids Inventories Capital Assets: Land Construction in Progress Buildings and Improvements Equipment Library Books and Textbooks Less: Accumulated Depreciation
Total Assets
LIABILITIES: Accounts Payable and Other Current Liabilities Accrued Salaries and Benefits Unearned Revenue Noncurrent Liabilities:
Due Within One Year Due In More Than One Year
Total Liabilities
NET ASSETS: Invested in Capital Assets, Net of Related Debt Restricted for:
Special Purpose Local Option Sales Tax II Special Purpose Local Option Sales Tax III Food Nutrition Services Unrestricted
Total Net Assets

Governmental Activities
$ 246,666
22,064 65,802 1,476
1 10 2,288
114,970 99,033
1,529,315 112,657 96,591 (721,713)
$ 1,569,160
37,132 64,569
602
2,904 9,262 114,469
1,230,853
22,933 33,222 20,200 147,483 $ 1,454,691

See accompanying notes to the basic financial statements. 16

COBB COUNTY SCHOOL DISTRICT STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2012

(amounts expressed in thousands)

GOVERNMENTAL ACTIVITIES Instruction Pupil Services Instructional Services School and Administrative Services Student Transportation Maintenance and Operations Student Activities Interest & Fiscal Charges
Total Governmental Activities

Expenses
$ 682,212 30,031 51,475
175,717 44,698 60,143 29,746 118
$ 1,074,140

Program Revenues

Charges for Services

Operating Grants and Contributions

Capital Grants and Contributions

$

1,068 $ 412,131 $

27,525

11

26,498

612

-

2,592

1,223

27,921

32,028

1,223

-

5,688

-

983

-

-

29,402

-

-

-

-

249

$

59,385 $ 478,937 $

30,832

Net (Expense) Revenue
and Changes in Net Assets

$ (241,488)

$

(2,910)

$ (47,660)

$ (114,545)

$ (39,010)

$ (59,160)

$

(344)

$

131

$ (504,986)

General Revenues: Taxes: Property Taxes Levied for General Purposes Sales Tax Intergovernmental Interest Income Other Gain on Sale of Asset
Total General Revenues

405,965 122,557
1,079 2,076 4,015
516
536,208

Change in Net Assets

31,222

Net Assets-Beginning of Year

1,423,469

Net Assets-End of Year

$ 1,454,691

See accompanying notes to the basic financial statements. 17

COBB COUNTY SCHOOL DISTRICT BALANCE SHEET GOVERNMENTAL FUNDS JUNE 30, 2012

(amounts expressed in thousands)

General

Assets:

Cash and Cash Equivalents

$ 136,253

Receivables (net of allowance for uncollectables):

Taxes

11,567

Federal and State Aid

58,277

Accounts

960

Accrued Interest

1

Due from Other Funds

2,811

Inventories

353

Total Assets

$ 210,222

Special Purpose Local Option Sales Tax III

Nonmajor Governmental
Funds

Total Governmental
Funds

$

50,780 $ 59,633 $ 246,666

10,485

12

22,064

-

7,525

65,802

-

516

1,476

-

-

1

-

4,476

7,287

-

1,706

2,059

$

61,265 $ 73,868 $ 345,355

LIABILITIES AND FUND BALANCES:

Liabilities:

Accounts Payable

$

4,421 $

Accrued Payroll and Payroll Withholdings

43,801

Accrued Employee Benefits

14,304

Due to Other Funds

11,987

Deferred Revenue

2,323

Total Liabilities

76,836

28,043 $ -
28,043

2,529 $ 4,913 1,526 2,811
630

34,993 48,714 15,830 14,798 2,953

12,409

117,288

Fund Balances: Nonspendable Restricted Committed Assigned Unassigned
Total Fund Balances Total Liabilities and Fund Balances

353 -
34,396 98,637
133,386
$ 210,222 $

33,222
-
33,222
61,265 $

1,706 43,133 11,883
4,737 -

2,059 76,355 11,883 39,133 98,637

61,459

228,067

73,868 $ 345,355

See accompanying notes to the basic financial statements.
18

COBB COUNTY SCHOOL DISTRICT RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET TO THE STATEMENT OF NET ASSETS JUNE 30, 2012
(amounts expressed in thousands)
Total Fund Balances-Governmental Funds
Amounts reported for governmental activities in the statement of net assets are different because:
Capital assets used in governmental activities are not financial resources and therefore are not reported in the funds.
Cost of capital assets Accumulated depreciation
Property taxes receivable will be collected after year-end, but are not available to pay for current period's expenditures, and therefore are deferred in the funds.
Internal service funds are used by management to charge the costs of insurance, purchasing and warehouse services to individual funds. The assets and liabilities of the internal service funds are included in governmental activities in the statement of net assets.
Long-term liabilities are not due and payable in the current period and therefore are not reported as liabilities in the funds. Long-term liabilities at year-end consist of:
Compensated absences
Total Net Assets-Governmental Activities

$

228,067

1,952,566 (721,713)

1,230,853

2,351

1,165

(7,745) $

(7,745) 1,454,691

See accompanying notes to the basic financial statements. 19

COBB COUNTY SCHOOL DISTRICT STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2012

(amounts expressed in thousands)

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

General

Special Purpose Nonmajor

Total

Local Option Governmental Governmental

Sales Tax III

Funds

Funds

$ 408,123 391,997 13 1,981 526 553
803,193

$ 122,557 30,584 184 -
153,325

$

6

88,001

55,435 160 -

3,410

3,463

150,475

$ 530,686 510,582 55,448 2,325 526 3,410 4,016
1,106,993

EXPENDITURES: Current:
Instruction Pupil Services Instructional Services School and Administrative Services Student Transportation Maintenance and Operations Student Activities Interest & Fiscal Charges Capital Outlay
Total Expenditures

602,945 17,330 38,717 78,172 37,876 55,361 9,214
839,615

26,088 118 157,241
183,447

31,385 8,410
10,983 65,275
3,593 1,153 29,746
13,035
163,580

634,330 25,740 49,700
169,535 41,469 56,514 29,746 118
179,490
1,186,642

Excess (deficiency) of Revenues Over (Under) Expenditures

(36,422)

(30,122)

(13,105)

(79,649)

Other Financing Sources (Uses): Transfers-In Transfers-Out Proceeds from Sale of Capital Assets
Total Other Financing Sources (Uses)

24,002 (1,422)
785
23,365

-

928

24,930

-

(24,002)

(25,424)

-

2

787

-

(23,072)

293

Net Change in Fund Balances

(13,057)

(30,122)

(36,177)

(79,356)

Fund Balances, Beginning of Year

146,443

63,344

97,636

307,423

Fund Balances, End of Year

$ 133,386 $ 33,222 $ 61,459 $ 228,067

See accompanying notes to the basic financial statements.

20

COBB COUNTY SCHOOL DISTRICT RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TO THE STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)
Total Net Change in Fund Balances-Governmental Funds
Amounts reported for governmental activities in the statement of activities are different because:
Capital assets are reported as expenditures in governmental funds. However, in the statement of activities, the cost of capital assets is allocated over their estimated useful lives as depreciation expense. In the current period, these amounts are: Capital outlay Non-capitalized items Depreciation expense
Because some property taxes will not be collected for several months after the fiscal year ends, they are not considered as "available" revenues in the governmental funds, and are instead counted as deferred revenues.
The net effect of various miscellaneous transactions involving capital assets (i.e., sales) is to decrease net assets.
Internal service funds are used by management to charge the costs of insurance, purchasing and warehouse services to individual funds. The net revenue of the internal service funds is reported with governmental activities.
Some items reported in the statement of activities do not require the use of current financial resources and therefore are not reported as expenditures in governmental funds. This activity consists of the increase in compensated absences.
Change in Net Assets of Governmental Activities

$ (79,356)

179,490 (3,602)
(60,510)

115,378

(2,146) (272)

(2,370) (12)
$ 31,222

See accompanying notes to the basic financial statements. 21

COBB COUNTY SCHOOL DISTRICT GENERAL FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2012

(amounts expressed in thousands)

REVENUES: Local State Federal Other
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget -
Positive (Negative)

$ 403,626 $ 383,473 6,172 24,069
817,340

403,626 $ 383,473
6,172 24,069
817,340

411,182 $ 385,336
5,541 24,801
826,860

7,556 1,863 (631)
732
9,520

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

609,832 18,340 25,203 14,675 6,214 50,809 5,846 59,793 44,073 14,555 71 18 2,365
851,794

612,085 18,842 27,231 14,697 6,993 50,863 5,406 60,689 45,735 18,600 71 18 2,365
863,595

603,039 17,305 24,956 14,563 6,718 51,925 4,773 55,672 42,636 15,895 66 4 2,365
839,917

9,046 1,537 2,275
134 275 (1,062) 633 5,017 3,099 2,705
5 14
-
23,678

Net Change in Fund Balance Fund Balance, Beginning of Year

(34,454) 146,443

(46,255) 146,443

(13,057) 146,443

33,198 -

Fund Balance, End of Year

$ 111,989 $

100,188 $

133,386 $

33,198

See accompanying notes to the basic financial statements. 22

COBB COUNTY SCHOOL DISTRICT STATEMENT OF NET ASSETS PROPRIETARY FUNDS JUNE 30, 2012
(amounts expressed in thousands)
Assets:
Current Assets: Due from Other Funds Inventories Prepaids Total Current Assets
Liabilities:
Current Liabilities: Accounts Payable Claims Payable Accrued Payroll and Payroll Withholdings Accrued Employee Benefits Total Current Liabilities
Noncurrent Liabilities: Claims payable, due in more than one year
Net Assets:
Unrestricted

Governmental Activities Internal Service Funds
$ 7,511 229 10
7,750
251 1,888
22 3 2,164
4,421
$ 1,165

See accompanying notes to the basic financial statements. 23

COBB COUNTY SCHOOL DISTRICT STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET ASSETS PROPRIETARY FUNDS FOR THE YEAR ENDED JUNE 30, 2012

(amounts expressed in thousands)

Governmental Activities

OPERATING REVENUES: Charges for Services

Internal Service Funds
$ 8,163

OPERATING EXPENSES: School and Administrative Services

11,027

Operating Loss

(2,864)

Transfers-In Transfers-Out

4,094 (3,600)

Change in Net Assets

(2,370)

Total Net Assets, Beginning of Year

3,535

Total Net Assets, End of Year

$ 1,165

See accompanying notes to the basic financial statements. 24

COBB COUNTY SCHOOL DISTRICT STATEMENT OF CASH FLOWS PROPRIETARY FUNDS FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)
Cash Flows from Operating Activities: Receipts from Interfund Services Provided Payments to Suppliers Payments for Medical Fees and Insurance Claims Payments to Employees
Net Cash Used in Operating Activities Cash Flows from Noncapital Financing Activities:
Transfers-In Transfers-Out
Net Cash Provided by Noncapital Financing Activities
Net Increase in Cash and Cash Equivalents Cash and Cash Equivalents at Beginning of Year Cash and Cash Equivalents at End of Year

Governmental Activities
Internal Service Funds
$ 10,244 (518)
(8,580) (1,640)
(494)

4,094 (3,600)

494

-

$

-

Reconciliation of Operating (Loss) to Net Cash Used in Operating Activities:

Operating Income (Loss) Adjustments to Reconcile Operating (Loss) to Net Cash Used in
Operating Activities: Decrease in Due From Other Funds Decrease in Inventories Increase in Prepaids Increase in Claims Payable Decrease in Accounts Payable Increase in Accrued Payroll and Payroll Withholdings Decrease in Due To Other Funds Total Adjustments

$ (2,864)
2,091 14 (10) 397
(111) 2
(13) 2,370

Net Cash Used in Operating Activities

$ (494)

See accompanying notes to the basic financial statements.

25

COBB COUNTY SCHOOL DISTRICT STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES FIDUCIARY FUNDS JUNE 30, 2012
(amounts expressed in thousands)
Assets: Cash and Cash Equivalents
Total Assets
Liabilities: Due to Student Groups Payroll Withholdings Payable
Total Liabilities

Agency Funds
$ 27,361 $ 27,361
$ 1,207 26,154
$ 27,361

See accompanying notes to the basic financial statements. 26

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
A. Reporting Entity:
The Cobb County School District (District) was established under the laws of the State of Georgia and operates under the guidance of a school board elected by the voters of Cobb County and has a superintendent appointed by the Board. The Board is organized as a separate legal entity and has the power to levy taxes and issue bonds. Its budget is not subject to approval by any other entity. Accordingly, the District is a primary government and consists of all the organizations that compose its legal entity.
A financial reporting entity consists of a primary government and its component units. A component unit is a legally separate entity that must be included in the reporting entity of a primary government in conformity with generally accepted accounting principles. Based on the guidance of the Governmental Accounting Standards Board (GASB) Statements 14 and 39, there are no component units combined with the District for financial statement presentation purposes, and the District is not included in any other governmental reporting entity.
B. Basis of Presentation:
The District's basic financial statements are collectively comprised of the District-wide financial statements, fund financial statements and the notes to the basic financial statements of the Cobb County School District.
District-wide Statements:
The Statement of Net Assets and the Statement of Activities display information about the financial activities of the overall District, except for fiduciary activities. Eliminations have been made to minimize the double counting of internal activities. Governmental activities generally are financed through taxes, intergovernmental revenues, and nonexchange transactions.
The Statement of Activities presents a comparison between direct expenses and program revenues for each function of the District's governmental activities.
Direct expenses are those that are specifically associated with a program or function and, therefore, are clearly identifiable to a particular function. Indirect expenses (expenses of the District related to the administration and support of the District's programs, such as office and maintenance personnel and accounting) are not allocated to programs, except for federal indirect costs allocated to federal grant programs.
27

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Program revenues include (a) charges paid by the recipients of goods or services offered by the programs and (b) grants and contributions that are restricted to meeting the operational or capital requirements of a particular program. Revenues that are not classified as program revenues, including all taxes, are presented as general revenues.
Fund Financial Statements:
The fund financial statements provide information about the District's funds, including fiduciary funds. Separate statements for each category (governmental, proprietary and fiduciary) are presented. The emphasis of fund financial statements is on major governmental funds, each displayed in a separate column. All remaining governmental funds are aggregated and reported as nonmajor funds.
The District reports the following major governmental funds:
General Fund is the District's primary operating fund. It accounts for all financial resources of the District, except those resources required to be accounted for in another fund.
Special Purpose Local Option Sales Tax III Fund (SPLOST III) account for sales tax proceeds required to be used for capital outlay for educational purposes as authorized by local referendum.
Additionally, the District reports the following fund types:
Special revenue funds account for restricted or committed specific revenues and their related expenditures. Revenues for the District include various federal and state grants, donations to the District, rental of District facilities, charges for afterschool programs, adult high school, and performing arts.
Capital project funds account for restricted and assigned revenues and related capital expenditures. The expenditures are used for capital outlays for educational purposes as authorized by local referendum and management's decision.
Internal service funds (proprietary funds) account for insurance, benefits, unemployment compensation, and purchasing/warehouse services provided to other funds of the District on a cost reimbursement basis.
Fiduciary funds (agency funds) account for assets and liabilities held by the District as an agent for various governments or individuals on the accrual basis of accounting. Specifically, the District temporarily holds assets for numerous school student activity organizations and payroll withholdings.
28

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
C. Basis of Accounting/Measurement Focus:
The basis of accounting determines when transactions are reported on the financial statements. The District-wide governmental activities and proprietary fund financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place.
Nonexchange transactions, in which the District gives (or receives) value without directly receiving (or giving) equal value in exchange, include property taxes, sales taxes, grants and donations. On an accrual basis, revenue from property taxes is recognized in the fiscal year for which the taxes are levied. Revenue from sales taxes is recognized in the fiscal year in which the underlying transaction (sale) takes place. Revenue from grants and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied. Agency funds report only assets and liabilities and, accordingly, do not have a measurement focus.
The District uses funds to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts.
Governmental funds are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Under this method, revenues are recognized when measurable and available. The District considers all non-grant revenues reported in the governmental funds to be available if they are collected within 60 days after year-end. The District considers all intergovernmental revenues to be available if they are collected within 120 days after year-end. Property taxes, sales taxes, intergovernmental and interest are considered to be subject to accrual. Expenditures are recorded when the related fund liability is incurred, except for principal and interest on general long-term debt, claims and judgments, and compensated absences, which are recognized as expenditures to the extent they have matured. Capital asset acquisitions are reported as expenditures in governmental funds. Proceeds of general long-term liabilities and acquisitions under capital leases are reported as other financing sources.
The State of Georgia reimburses the District for teachers' salaries and operating costs through the Quality Basic Education (QBE) Formula Earnings program. State of Georgia law defines the formula driven grant that determines the cost of an academic school year and the State of Georgia's share in this cost. Generally teachers are contracted for the school year (July 1 June 30) and paid over a twelve month contract period, generally September 1 through August 31. In accordance with the requirements of the
29

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
enabling legislation of the QBE program, the State of Georgia reimburses the District over the same twelve 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.
Under the terms of grant agreements, the District funds certain programs by a combination of specific cost-reimbursement grants, categorical grants, and general revenues. Thus, when program costs are incurred, there are both restricted and unrestricted net assets available to finance the program. It is the District's policy to first apply grant resources to such programs, followed by cost-reimbursement grants, then general revenues.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses result from providing services. Operating revenues in the internal service funds are charges to customers for services. Operating expenses for internal service funds consist of the cost of services and administrative expenses. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses.
D. Cash and Cash Equivalents:
The District's cash and cash equivalents are considered to be cash on hand, demand deposits and short-term investments with original maturities of three months or less from the date of acquisition in authorized financial institutions. Georgia Law OCGA 45-8-14 authorizes the District to deposit its funds in one or more solvent banks or insured Federal savings and loans associations.
E. Investments:
Included in cash equivalents are items such as deposits with the Georgia local government investment pool, certificates of deposit and money market accounts. All of the District's investments as of June 30, 2012, were purchased with a maturity date less than one year from the date of purchase. These investments are stated at fair value.
30

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012

Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Investments made by the District in nonparticipating interest-earning contracts (such as certificates of deposit) and repurchase agreements are reported at cost. Both participating interest-earning contracts and money market investments with a maturity at purchase greater than one year are reported at fair value. The Official Code of Georgia Annotated Section 36-83-4 authorizes the District to invest its funds. In selecting among options for investment or among institutional bids for deposits, the highest rate of return shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following:

(1) Obligations issued by the State of Georgia or by other States,

(2) Obligations issued by the United States government,

(3) Obligations fully insured or guaranteed by the United States government or a United States government agency,

(4) Obligations of any corporation of the United States government,

(5) Prime banker's acceptances,

(6) The Local Government Investment Pool administered by the State Treasurer of the State of Georgia.

(7) Repurchase agreements, and,

(8) Obligations of other political subdivisions of the State of Georgia.

F. Receivables:

Receivables consist of amounts due from property and sales taxes, grant reimbursements

due on Federal, State or other grants for expenditures made but not reimbursed and other

receivables disclosed from information available. Receivables are recorded when either

the asset or revenue recognition criteria has been met. Federal and State Aid Receivables

at June 30, 2012 were as follows:

General

Other

Fund

Governmental

Total

Federal Grants

$

- $ 6,707,000 $ 6,707,000

State Aid / Grants Federal and State

58,277,000

818,000 59,095,000

$ 58,277,000 $ 7,525,000 $ 65,802,000

31

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

G. Property Taxes:

The Cobb County Board of Commissioners fixed the property tax levy for the 2011 tax digest year (calendar year) in July 2011 (levy date) based on property values as of January 1, 2011. Taxes were due on October 15, 2011 (lien date). Taxes collected within the current fiscal year or within 60 days after year-end on the 2011 tax digest are reported as revenue in the governmental funds for fiscal year 2012. The Cobb County Tax Commissioner bills and collects the property taxes for the School District, withholds 1.6% of taxes collected as a fee for tax collection and remits the balance of taxes collected to the District. Property tax revenues during the fiscal year ended June 30, 2012 totaled $408,129,000.

School tax by law cannot be greater than 20 mills per dollar for the support and maintenance of education. Tax millage rates levied for the 2011 tax year (calendar year) for the Cobb County School District were as follows (a mill equals $1 per thousand dollars of assessed value):

School Operations

18.90 mills

H. Sales Taxes:
A one percent Special Purpose Local Option Sales Tax is to be used for capital outlay for educational purposes and debt service. The State will terminate collection of this tax once an additional $397,913,860 has been collected or on December 31, 2013, whichever occurs first.

I. Inventories:
On the district-wide financial statements, inventories of donated food commodities used in the preparation of meals are reported at their Federally assigned value and purchased foods inventories are reported at cost (first in-first out). The District uses the consumption method to account for inventories whereby donated food commodities are recorded as an asset and as revenue when received, and expenses are recorded as the inventory items are used. Purchased foods are recorded as an asset when purchased and expenses are recorded as the inventory items are used.
On the fund statements, inventories of governmental funds are reported at cost (first infirst-out). The District uses the consumption method to account for inventories whereby expenditures are recorded when inventory items are used.
32

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012

Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

J. Capital Assets:

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

Capitalization thresholds and estimated useful lives of capital assets reported in the District-wide statements are as follows:

Land Buildings and Improvements Equipment Intangible Assets Library Books and Textbooks

General Policy
All All $10,000 $500,000 All

Useful Life
N/A 20 to 50 Years 5 to 10 Years
10 Years 5 Years

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

K. Fund Balance:
Fund equity at the governmental fund financial reporting level is classified as "fund balance". Fund equity for all other reporting is classified as "net assets".

33

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 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. The District's fund balances are classified as follows:
1) Non-spendable Fund Balance - Non-cash assets such as inventories or prepaid items.
2) Restricted Fund Balance - Funds with limitations imposed on their use by external restrictions imposed by creditors, grantors, or laws or regulations of other governments.
3) Committed Fund Balance - Amounts that can only be used for specific purposes pursuant to a formal vote of the Board of Education. Only the Board may modify or rescind the commitment.
4) Assigned Fund Balance - Amounts intended by the Board of Education for specific purposes, but are neither restricted or committed. The Board of Education can choose to delegate this authority.
5) Unassigned Fund Balance - Residual spendable fund balance after subtracting all above amounts. Positive unassigned values are only reported in the General Fund.
34

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012

Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Committed Fund Balances The Board of Education, as the government's highest level of decision-making authority, may commit fund balance by a formal vote prior to the government's fiscal year-end for that fiscal year. Future modification or rescission of committed funds must likewise be accomplished by a formal vote of the Board of Education prior to fiscal year-end. Pursuant to the requirements of Governmental Accounting Statement 54, the Board of Education committed substantially all of the revenue received by the following Special Revenue funds to be used exclusively for each respective program's expenditures.

Special Revenue Fund Donations
After School Program
Performing Arts / Artists at School Tuition School / Adult High School
Facility Use / Public Safety
Local Schools

Revenue Source Donations by individuals or organizations to
benefit school programs. Attendance and registration fees of After
School Program (ASP). Voluntary student contributions to fund Performing Arts Programs and donations to fund artist workshops at local schools.
User tuition charges and GED fees. User rental fees and student parking permit
fees. Funds earned or donated at local schools used by local principals to benefit students
and faculty subject to District policy.

Assigned Fund Balances The Board of Education expressly delegates to the Superintendent, through the Chief Financial Officer, the authority to assign funds for particular purposes.

Spending Prioritization When expenditures are incurred by the District that would qualify for payment with either restricted or unrestricted funds, it will be paid from restricted funds. When an expenditure is incurred that qualifies for payment from either of the three unrestricted fund balance categories, it will be applied in the following order:

1) Committed 2) Assigned 3) Unassigned

35

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Minimum Unassigned General Fund Balance The Board of Education will strive to maintain a minimum unassigned general fund balance, less encumbrances, equivalent to a range of 30 to 55 days of annual expenditures unless this is unfeasible due to circumstances beyond its control such as:
a) A substantial decrease in the county property tax digest b) A substantial decrease in State funding c) An unanticipated fiscal necessity

Schedule of Fund Balances

Fund Balances:

General Fund

Special Purpose Local Option Sales Tax III

Other Governmental
Funds

Total

Nons pendable: Inventory

$ 353,000

$ 1,706,000 $ 2,059,000

Restricted for: Capital Projects Captial Projects School Nutrition

33,222,000

22,933,000 20,200,000

33,222,000 22,933,000 20,200,000

Committed to: Local School Activities After School Program Tuition School / Adult High School Facility Use and Public Safety Programs Performing Arts and Artists at School Programs Donations for the Benefit of School Programs

8,016,000 1,733,000
989,000 815,000 167,000 163,000

8,016,000 1,733,000
989,000 815,000 167,000 163,000

Assigned to: Appropriation for Next Year's Budget Ins tru ction Pupil Services Instructional Services School and Administration Student Transportation Maintenance and Operations District-Wide Building Student Information Systems Psycho Ed

28,254,000 1,998,000
305,000 1,309,000 1,119,000
21,000 1,390,000

3,998,000 396,000 343,000

28,254,000 1,998,000
305,000 1,309,000 1,119,000
21,000 1,390,000 3,998,000
396,000 343,000

Unas s igned:

98,637,000

98,637,000

Total Fund Balance

$ 133,386,000 $ 33,222,000 $ 61,459,000 $ 228,067,000

36

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012
Note 2. LEGAL COMPLIANCE - BUDGETS:
The Board of Education budgets its operations on an annual basis for the General Fund and all Special Revenue Funds except the Local Schools Fund. Capital Projects Funds are budgeted on a multi-year, project-length basis. Prior to July 1 each year, the administration of the District submits a proposed budget to the Board of Education which conducts public hearings and legally adopts the budget. The administration then submits the adopted budget to the Georgia Department of Education for final approval.
The District prepares the budget on a basis other than accounting principles generally accepted in the United States of America (GAAP) as allowed by the State of Georgia. Appropriations not spent or encumbered lapse at year-end and encumbrances outstanding at that time are rebudgeted in the following fiscal year. Budget amendments which are funded through a decrease in fund balance must be approved by the Board of Education. All other budget amendments may be approved by the Superintendent or his designee.
The level of legal budgetary control (the level at which expenditures may not exceed appropriations) is at the function level within individual funds. Several supplementary appropriations were necessary during the fiscal year ended June 30, 2012.
For the year ended June 30, 2012, expenditures exceeded appropriations in several function areas (the legal level of budgetary control). These over-expenditures were offset by under-expenditures in other function areas within the same fund. The overexpenditures are identified in the following schedule:

Fund/Function
General Fund: School Administration
After School Program Fund: Instruction
Tuition Schools/Adult High School Fund: Pupil Services
Food and Nutrition Fund: School Nutrition Program
Vocational Education Fund: Instruction
Title II Fund: Instruction
Homeless Grant Fund: Instruction
Title IV Fund: Improvement of Instrutional Services Transportation

Overexpenditure
$ 1,062,000 32,000 1,000 18,000 6,000 1,000 1,000 6,000 10,000

37

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012
Note 2. CASH EQUIVALENTS, DEPOSITS AND INVESTMENTS:
COLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee of insurance or by collateral. The aggregate of the face value of such surety bond and the market value of securities pledged shall be equal to not less than 110 percent of the public funds being secured after the deduction of the amount of deposit insurance. If a depository elects the pooled method (OCGA 45-8-13.1) the aggregate of the market value of the securities pledged to secure a pool of public funds shall be not less than 110 percent of the daily pool balance. OCGA Section 45-8-11 (b) provides an officer holding public funds may, in his discretion, waive the requirement for security in the case of operating funds placed in demand deposit checking accounts.
Acceptable security for deposits consists of any one of or any combination of the following:
(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia,
(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation,
(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia,
(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia,
(5) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose,
(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and
(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest or debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association.
38

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012
Note 2. CASH EQUIVALENTS, DEPOSITS AND INVESTMENTS (Continued)
Cash Equivalents and Deposits
Cash equivalents consist of bank checking, savings, money-market accounts, and certificate of deposits.
Custodial credit risk-deposits and investments
Custodial credit risk is the risk that in the event of bank failure, the District's cash equivalents and deposits may not be returned to the District. At June 30, 2012, the District had deposits with a carrying amount of $274,027,000 and a bank balance of $281,183,000. The bank balance was entirely covered by Federal depository insurance, by collateral held by the District or the District's agent in the District's name, or by a multiple financial institution collateral pool authorized by the State of Georgia that insures public deposits.
The District has no custodial credit risk since there are no uncollateralized or uninsured securities not in the District's name.
Investments
As of June 30, 2012, the District's investments included $11,040,942 in an investment pool account called Georgia Fund One, the combined state general fund and local government investment pool managed by the Office of the State Treasurer. On that date, these funds had a weighted average maturity of 48 days. Additionally, the District has $30,500,000 in certificate of deposits, which are held at various institutions and are fully insured as of June 30, 2012. These investments are reported as cash equivalents.
Credit Risk
The District's investment policy is to apply the prudent investor rule which states "investments shall be made with judgment and care, under circumstances when prevailing, which persons of prudence, discretion and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the primary objective of safety of capital as well as the objective of obtaining a market rate of return."
The policy of the District is to invest funds with larger banking institutions which are able to collateralize the public funds at 110%. Any bid to purchase securities must be from a broker/dealer who is a member of the NASD and SIPC and have a major presence in the metropolitan area.
39

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012
Note 2. CASH EQUIVALENTS, DEPOSITS AND INVESTMENTS (Continued)
The District's investment in Georgia Fund One, the State of Georgia Investment Pool, was rated AAAm by Standard & Poor's. The Treasurer of the State of Georgia is the oversight agency for Georgia Fund One.
Concentration of Credit Risk
Concentration of credit risk is defined as investments of more than 5% in any one issuer. Georgia Fund One is excluded from the requirement of disclosing concentration of credit risk.
However, Georgia Fund 1 operates in a manner consistent with Rule 2a-7 of the Investment Company Act of 1940 and is considered to be a 2a-7 like pool. The pool is not registered with the SEC as on investment company. The pool's primary objectives are safety of capital, investment income, liquidity and diversification while maintaining principal( $1 per share value). Net asset value is calculated weekly to ensure stability. The pool distributes earnings (net of management fees) on a monthly basis and determines participant's shares sold and redeemed based on $ per share. As of June 30, 2012, the District considers amounts held in Georgia Fund 1 as cash equivalents for financial statement presentation.
Interest Rate Risk
In accordance with its investment policy, the District will minimize interest rate risk, which is the risk that the market value of securities in the portfolio will fall due to changes in market interest rates, by structuring the investment portfolio so that securities mature to meet cash requirements for ongoing operations, thereby avoiding the need to sell securities in the open market, and investment operating funds primarily in money market funds or similar investment pools and limiting the average maturity in accordance with the District's cash requirements.
Foreign Currency Risk
The District is not authorized to invest in investments which have this type of risk.
40

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012
Note 3. NON-MONETARY TRANSACTIONS:
The District received food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. See Note 1 Inventories

Note 4. CAPITAL ASSETS:

The following is a summary of changes in the capital assets during the fiscal year:

Governmental Activities Capital Assets, Not Being Depreciated:
Land Construction In Progress Total Capital Assets Not Being Depreciated

Balance June 30, 2011
$ 106,923,000 97,942,000
204,865,000

Capital Assets Being Depreciated: Buildings and Improvements Equipment Library/Textbooks Total Capital Assets Being Depreciated
Less Accumulated Depreciation for: Buildings and Improvements Equipment Library/Textbooks Total Accumulated Depreciation
Total Capital Assets Being Depreciated-Net Governmental Capital Assets-Net

1,381,731,000 107,543,000 92,379,000
1,581,653,000
522,570,000 82,218,000 65,983,000
670,771,000 910,882,000 $ 1,115,747,000

Increases
$ 8,047,000 144,248,000 152,295,000
147,584,000 9,703,000 9,463,000
166,750,000
42,569,000 6,590,000
11,351,000 60,510,000 106,240,000 $ 258,535,000

Decreases

Balance June 30, 2012

$

- $ 114,970,000

(143,157,000)

99,033,000

(143,157,000)

214,003,000

(4,589,000) (5,251,000) (9,840,000)

1,529,315,000 112,657,000 96,591,000
1,738,563,000

(4,317,000) (5,251,000) (9,568,000)
(272,000) $ (143,429,000)

565,139,000 84,491,000 72,083,000
721,713,000 1,016,850,000 $ 1,230,853,000

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

Instruction

$ 47,870,000

Pupil Services

4,292,000

Instructional Services

1,774,000

School and Administrative Services

3,318,000

Pupil Transportation

3,229,000

Maintenance and Operations

27,000

$ 60,510,000

41

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012

Note 5. INTERFUND ASSETS AND LIABILITIES:

Interfund receivable and payable balances result from the time lag between the dates that (1) interfund goods and services are provided or reimbursable expenditures occur, (2) transactions are recorded in the accounting system, and (3) payments between funds are made. All interfund balances will be paid within one year. Interfund receivable and payable balances by fund as of June 30, 2012 are disclosed in the following schedule:

Governmental Funds: General Fund
Nonmajor Governmental Funds: Miscellaneous Grants Adult Education Title I Vocational Education Title II Title III Title IV Local Schools Total Nonmajor Governmental Funds
Proprietary Funds: Unemployment Compensation Fund Self-Insurance Fund Flexible Benefits Fund Dental Insurance Fund Total Proprietary Funds
Total

Re ce ivable
$ 2,811,000
4,476,000 4,476,000
420,000 6,701,000
358,000 32,000
7,511,000 $ 14,798,000

Payable
$ 11,987,000
87,000 231,000 1,355,000
81,000 362,000
83,000 612,000
2,811,000
$ 14,798,000

42

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012

Note 6. INTERFUND TRANSFERS:

Interfund transfers are used to (1) move revenues from the fund that statute or budget requires to collect them to the fund that statute or budget requires to expend them and (2) to use unrestricted revenues in the general fund to finance various programs accounted for in other funds in accordance with budgetary authorizations.

Interfund transfers for the year ended June 30, 2012, consisted of the following:

Transfers Out:
General Fund: General Fund General Fund General Fund General Fund Total General Fund
Nonmajor Governmental Funds: Student Information Systems Fund SPLOST II Fund District- Wide Building Fund Facility Use / Public Safety Fund Total Nonmajor Governmental Funds
Internal Service Funds: Dental Insurance Fund Total Internal Service Funds
Total for All Funds

Transfers In:
Facility Use / Public Safety Fund Performing Arts / Artists at School Fund Tuition School / Adult High School Fund Self-Insurance Fund
General Fund General Fund General Fund General Fund
Self Insurance Fund

Amount
721,000 7,000
200,000 494,000 1,422,000
8,000 22,234,000
1,600,000 160,000
24,002,000
3,600,000 3,600,000
$ 29,024,000

43

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012

Note 7. RISK MANAGEMENT:

The District is self-insured for all claims under general liability, vehicle accidents and workers compensation. The District maintains as policy for excess workers compensation. The District is commercially insured for property, contents and boiler and carries fidelity bond coverage for employee dishonesty, in addition to a state-mandated Superintendent's bond and school principals' bond.

Premiums are paid into Internal Service funds by user funds and are available to pay claims and administrative costs of the program and establish claim reserves. These interfund premiums are recognized as revenue in the internal service funds. Actuarial analysis provides estimated ultimate losses for workers compensation and automobile liability, which are then converted to present values using an interest rate of 3%.

Estimated claims for the next fiscal year total $1,888,000 and the non-current liability for succeeding years is $4,421,000.

2011 2012

Estimated Unpaid Claims at Beginning
of Fiscal Year

$

8,856,000

$

5,912,000

Claims and Changes in Estimates
$ 1,800,000
$ 3,534,000

Claim Payments

Estimated Unpaid Claims at
End of Fiscal Year

$ (4,744,000) $ 5,912,000

$ (3,137,000) $ 6,309,000

Note 8. SHORT-TERM NOTES:

In February 2011, the District issued $62,000,000 in revenue anticipation notes in order to continue construction of new schools, school additions, and school renovations. The notes bear interest at a rate of 1.5% and were due on December 29, 2011. The District repaid the notes with proceeds from a local option sales tax collected in calendar year 2011. The principal and interest payment on December 29, 2011 totaled $62,824,000.

The following represents the activity related to short-term notes during the fiscal year ended June 30, 2012.

B e ginning Balance $ 62,000,000

Additions

$

-

De le tions $ 62,000,000

Ending Balance

$

-

44

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012

Note 9. LONG-TERM OBLIGATIONS:

Fiscal year 2012 long-term obligations are as follows:

Current

Long-term

Accrued Vacation Pay Total

Balance 6/30/2011

Added

Retired

Balance

Amounts Due Amounts Due

6/30/2012 Within One Year After One Year

7,733,000

2,912,000

(2,900,000)

7,745,000

2,904,000

4,841,000

$ 7,733,000 $ 2,912,000 $ (2,900,000) $ 7,745,000 $ 2,904,000 $ 4,841,000

Accrued vacation pay is generally liquidated by the General Fund.

Note 10. ON-BEHALF PAYMENTS:
The State of Georgia makes certain health insurance and pension plan payments on behalf of the District for its employees. The District records these payments as both a revenue and expenditure in the General Fund. The total of the on-behalf payments for the fiscal year ended June 30, 2012 was $1,120,093.

Note 11. COMMITMENTS AND CONTINGENCIES:
The District makes various contractual commitments on an ongoing basis for construction and remodeling of its capital assets. The major outstanding commitments as of June 30, 2012, included the construction of three replacement elementary schools, 9th grade additions to two high schools, and additions and renovations to seven existing schools.

45

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012
Note 11. COMMITMENTS AND CONTINGENCIES: (Continued)

As of June 30, 2012, the total contract price and expenditures to date for the largest projects were as follows:

Proje ct Replacement - Clarkdale ES Replacement - East Side ES Addition/Renovations - Garrett MS 9th Grade Addition - Harrison HS Addition/Renovations - Lassiter HS Replacement - Mableton ES Addition/Renovations - McCleskey MS 9th Grade Addition - North Cobb HS Addition/Renovations - Pine Mountain MS Addition/Renovations - Pope HS Addition/Renovations - Simpson MS Replacement - Smyrna Area ES 9th Grade Addition - South Cobb HS Addition/Renovations - Sprayberry HS Addition/Renovations - Wheeler HS Total

Contract Price
$ 15,906,459 17,638,981 8,930,126 15,307,405 16,443,310 19,647,815 9,393,898 16,124,395 7,329,966 9,892,141 9,444,267 20,490,974 20,409,278 11,821,584 22,917,870
$ 221,698,469

Expe nditure s To Date
$ 14,692,436 17,638,239 6,961,455 1,035,611 10,680,789 18,125,813 8,004,290 15,261,013 6,858,175 9,745,567 8,568,108 6,427,953 20,322,505 11,652,239 9,445,894
$ 165,420,087

The District participates in numerous state and federal grant programs, which are governed by various rules and regulations of the grantor agencies. Costs charged to the respective grant programs are subject to audit and adjustment by the grantor agencies; therefore, to the extent that the District has not complied with the rules and regulations governing the grants, refunds of any money received may be required and the collectability of any related receivable at June 30, 2012, 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 combined financial statements for such contingencies.

46

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012
Note 11. COMMITMENTS AND CONTINGENCIES (Continued)
The District is a defendant in various lawsuits. Although the outcome of these lawsuits is not presently determinable, in the opinion of the District's attorney, the resolution of these matters will not have a material adverse effect on the financial condition of the District.
Note 12. COMPENSATED ABSENCES:
It is the District's policy to allow employees to accumulate earned but unused vacation benefits. Employees are compensated for qualifying vacation benefits upon termination of their employment with the District. A liability for these vacation benefits are accrued and include social security, medicare, and workers compensation. Employees are not compensated for sick leave benefits upon termination of their employment. Therefore, no liability is reported for earned but unused sick leave benefits.
Note 13. RETIREMENT PLANS:
Teachers Retirement System of Georgia (TRS):
Plan Description
Substantially all teachers, administrators and clerical personnel are members of this costsharing multiple-employer defined benefit public employee retirement system. TRS was created in 1943 by an act of the Georgia General Assembly and is administered by a ten member Board of Trustees. TRS is funded by a combination of employee, employer and State of Georgia contributions. Benefits are established by State statute and provide retirement, death, long-term disability, survivor and health insurance premium benefits. TRS issues a comprehensive annual financial report that includes financial statements and required supplementary information. To obtain a copy of the report contact the Teachers Retirement System of Georgia at Two Northside 75, Suite 100, Atlanta, Georgia 30318.
Funding Policy
Plan members are required to contribute 5.53 percent of their annual covered payroll and the District is required to contribute 10.28 percent of the covered payroll. The contribution is an actuarially determined rate. The contribution requirements of plan members and the District are established and may be amended by the TRS Board of Trustees. The District's contributions to TRS for the years ended June 30, 2012, 2011 and 2010 were $58,155,546, $57,920,356, and $58,051,816 respectively, which were equal to the required contribution for each year.
47

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012
Note 13. RETIREMENT PLANS (Continued)
Public School Employee Retirement System of Georgia (PSERS):
Plan Description
Bus drivers, maintenance, custodial, and lunchroom personnel are members of this costsharing multiple-employer defined benefit public employee retirement system. PSERS is administered by a Board of Trustees. PSERS is funded by employee and State of Georgia contributions. Benefits are established by State statute and provide retirement, death, longterm disability and survivor benefits. PSERS issues an annual financial report that includes financial statements and required supplementary information. To obtain a copy of the report contact the Employees' Retirement System of Georgia at Two Northside 75, Suite 300, Atlanta, Georgia 30318.
Funding Policy
Plan members are required to contribute four dollars per month for the nine month school year. The State of Georgia makes an annual contribution to PSERS based upon an actuarial calculation. The District does not make an annual contribution to PSERS. The contribution requirements of plan members and the State are established and may be amended by the PSERS Board of Trustees.
Note 14. POSTEMPLOYMENT BENEFITS:
Georgia Retiree Health Benefit Fund
Plan Description
The Cobb County School District contributes to the Georgia Retiree Health Benefit Fund (GRHBP), a healthcare plan administered by the Georgia Department of Community Health. The GRHBP is a cost-sharing multiple-employer defined-benefit postemployment healthcare plan that covers former state employees, former teachers and former public school employees who met eligibility criteria when active. The GRHPB provides health insurance benefits to eligible former employees and their qualified beneficiaries through the State Health Benefit Plan (SHBP) administered by the Department of Community Health. The Official Code of Georgia Annotated (OCGA) assigns the authority to establish and amend the benefit provisions of the group health plans, including benefits for retirees, to the Board of Community Health (Board). The Department of Community Health issues a publicly available financial report that includes financial statements and required supplementary information for the GRHBP. That report may be obtained from the Georgia Department of Community Health at 2 Peachtree Street, Atlanta, GA 30303.
48

COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2012

Note 14. POSTEMPLOYMENT BENEFITS (Continued)

Funding Policy

The contribution requirements of plan members and participating employers are established by the Board in accordance with the current Appropriations Act and may be amended by the Board. Contributions of plan members or beneficiaries receiving benefits vary based on plan election, dependent coverage, and Medicare eligibility and election. On average, plan members pay approximately sixty-two percent (62%) of the cost of health insurance coverage. Participating employers are statutorily required to contribute in accordance with the employer contribution rates established by the Board.

The contribution rate is established to fund both the active and retired employee health insurance plans based on projected "pay-as-you-go" financing requirements. Contributions are not based on the actuarially calculated annual required contribution (ARC) which represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each year and amortize any unfunded actuarial liabilities (or funding excess) over a period not to exceed thirty years.

The combined rates for the active and retiree contribution rates established by the Board for employees participating in the SHBP were as follows for the fiscal year ended June 30, 2012:

Certified employees July 2011 August 2011 - March 2012 April 2012 - June 2012
Non-Certificated Employees July 2011 - August 2011 September 2011 - June 2012

18.534% of covered payroll for August coverage 24.00% of covered payroll for September - April coverage 3.958% of covered payroll for May - July coverage
$246.20 per member per month $296.20 per member per month

No additional contribution was required by the Board for fiscal year 2012 nor contributed to the GRHBP to prefund retiree benefits. Such additional contribution amounts are determined annually by the Board in accordance with the State plan for other postemployment benefits and are subject to appropriation.

The School District's combined active and retiree contributions to the health insurance plans, which equaled the required contribution, for the current fiscal year and the preceding two fiscal years were as follows:

Fiscal Year 2012 2011 2010

Contribution $81,239,085 $84,335,948 $83,074,364

Contribution 100% 100% 100%

49

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

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

Donations Facility Use/Public Safety

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

After School Program

This fund is created to provide accounting of funds for the After School Program which utilizes designated school facilities for the purpose of providing supervision to children from school release time until 6:00 p.m. This program is self-supported from charges of daily attendance fees and non-refundable annual registration fees per enrolled child.

Performing Arts/Artist at School

This fund is created to account for funds for the Performing Arts Program which offers an opportunity for students in kindergarten through eighth grade to experience professional quality performing arts experiences. These experiences include off-campus trips to art museums, symphony concerts, ballet and theater performances, as well as in-house musical and dramatic presentations. The program is funded through voluntary student contributions and charges for participation. Artist at School fund is created to provide accounting of funds which are provided to local artists as compensation for workshops held in the district's schools.

Tuition School/Adult High School

This fund is created to provide accounting for the Tuition School Program which provides the opportunity for students to make up school classes and provide enrichment and remedial work at various instructional levels. This program is supported by user tuition charges. This fund is created to account for funds for the Adult High School Program which provides the opportunity for students 16 years of age, and older, who are not enrolled in a regular high school, to improve their basic educational skills and work towards high school completion.

50

Miscellaneous Grants School Nutrition
ARRA Grants
Adult Education Psycho Education Center Title I
Special Education Vocational Education Title II Homeless Grant

This fund is established to provide accounting of funds received and represent a compilation of several grants which are awarded for educational purposes.
This fund is established to provide accounting of funds which are used for the operation of school lunchrooms. All lunches and breakfasts provide at least one-third of each student's nutritional needs and are available at a minimal cost. Free and reduced meals are provided for qualifying students. All lunchrooms are regularly inspected by the Cobb County Health Department and meet prescribed standards of the State Department of Education.
This fund is established to provide accounting of grant funds provided by the National Clean Diesel Campaign. This new grant promotes diesel emission reductions by retrofitting diesel engines with emissions controls. This program allows the District along with Georgia Institute of Technology to utilize emerging technologies to meet critical local air quality needs at a faster pace.
This fund is established to provide accounting for grant funds via the Georgia Department of Technical and Adult Education which are used to educate adults and is a part of the national effort to ensure that all adults are literate and able to compete in the global economy.
This fund is established to provide accounting for grant funds via the Georgia Department of Education which are used to provide appropriate education for students identified as severely emotionally behavior disordered, or autistic.
This fund is established to provide accounting of Title I funds which are provided as part of the No Child Left Behind Act of 2001. This act provides federal funds through the Georgia Department of Education to local school districts to help disadvantaged children meet high standards. The goal is to have a quality education for all children by having local schools and state departments work together.
This fund is established to provide accounting of federal revenues received to provide programs for direct and related support services for handicapped children.
This fund is established to provide accounting of federal grant revenues provided for career training and opportunities to students
This fund is established to provide accounting of federal categorical grant funds which flow through the Georgia Department of Education to our school district. The funds are used to advance teacher quality through professional learning, preparation, recruitment and retention as well as upgrading teachers' skills in science and math through training.
This fund is established to provide accounting of funds for federal categorical grant funds which flow through the Georgia Department of Education and are used to provide educational services to homeless children.

51

Learn and Serve Title III Title IV Local School Funds

This fund is established to provide accounting of grant funds received from Learn and Serve America which is a program of the Corporation for National Community Service (CNCS). These funds provide opportunities for integrating community service projects with classroom learning.
This fund is established to provide accounting of federally funded grants for programs that support Limited English Proficiency (LEP) students and their families, through language instructional programs. These programs include community participation programs, family literacy services, parent outreach and training activities to improve the English language skills of limited English proficient children and assistance for parents in helping their children to improve their academic achievement.
This fund is established to provide accounting of federal categorical grant funds which are directly funded from the U.S. Department of Education and may flow through the Georgia State Department of Education. The funds are used to promote the Safe and Drug Free Schools Program, the Mentoring Program and the 21st Century Community Learning Centers Program for students in our schools.
This fund is established to provide accounting for local school resources generated through ticket sales, commissions, vending, donations, etc. in which the administration has a material degree of involvement. These revenues have been committed by the Board for use by local principals to benefit students and faculty subject to District policy.

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

52

COBB COUNTY SCHOOL DISTRICT COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2012
(amounts expressed in thousands)

ASSETS:

Donations

Facility Use/ Public
Safety

Special Revenue

Performing

After

Arts/ Artist

School

at School

Program

Program

Tuition School/ Adult High School

Cash and Cash Equivalents Taxes Receivable Federal and State Aid Receivable Accounts Receivable Accrued Interest Receivable Due From Other Funds Inventories
Total Assets

$ 163 $ 834 $ 1,739 $

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

$ 163 $ 834 $ 1,739 $

167 $ -
167 $

1,236 -
1,236

LIABILITIES AND FUND BALANCES:

Liabilities:

Accounts Payable

$

Accrued Payroll and Payroll

Withholdings

Accrued Employee Benefits

Due to Other Funds

Deferred Revenue

Total Liabilities

Fund Balances:

Nonspendable

Restricted

Committed

Assigned

Total Fund Balances

Total Liabilities and Fund Balances

$

-$
-
163 163 163 $

-$
17 2 -
19

6$
6

-

-

-

-

815

1,733

-

-

815

1,733

834 $ 1,739 $

-$

13

-

207

-

27

-

-

-

-

-

247

167 -
167
167 $

989 -
989
1,236

53

Misc. Grants

Special Revenue

School Nutrition

ARRA Grants

Adult Education

Psycho Education
Center

$

- $ 23,341 $

-

-

112

-

-

14

-

-

-

-

-

1,706

$ 112 $ 25,061 $

6$

- $ 235

-

-

-

-

263

708

-

-

-

-

-

-

-

-

-

-

-

-

6 $ 263 $ 943

$

8 $ 250 $

14

1,635

2

668

87

-

1

602

112

3,155

-

1,706

-

20,200

-

-

-

-

-

21,906

$ 112 $ 25,061 $

-$

20 $ 288

-

2

228

-

-

84

-

231

-

6

10

-

6

263

600

-

-

-

-

-

-

-

-

-

-

-

343

-

-

343

6 $ 263 $ 943

Continued---

54

COBB COUNTY SCHOOL DISTRICT COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2012
(amounts expressed in thousands)

Special Revenue

ASSETS:
Cash and Cash Equivalents Taxes Receivable Federal and State Aid Receivable Accounts Receivable Accrued Interest Receivable Due From Other Funds Inventories
Total Assets

Title I

Special

Vocational

Education Education

Title II

Homeless Grant

$

- $ 213 $

-$

-$

1

-

-

-

-

-

2,978

1,787

96

654

1

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

$ 2,978 $ 2,000 $

96 $

654 $

2

LIABILITIES AND FUND BALANCES:

Liabilities: Accounts Payable Accrued Payroll and Payroll Withholdings Accrued Employee Benefits Due to Other Funds Deferred Revenue
Total Liabilities

$ 283 $ 133 $

3$

57 $

-

1,098

1,399

12

219

1

242

468

-

16

1

1,355

-

81

362

-

-

-

-

-

-

2,978

2,000

96

654

2

Fund Balances:

Nonspendable

-

-

-

-

-

Restricted

-

-

-

-

-

Committed

-

-

-

-

-

Assigned

-

-

-

-

-

Total Fund Balances

-

-

-

-

-

Total Liabilities and Fund Balances

$ 2,978 $ 2,000 $

96 $

654 $

2

55

Special Revenue

Learn and Serve

Title III

Title IV

Local School Funds

$

-$

-$

- $ 3,540

-

-

-

-

-

148

778

-

-

-

-

-

-

-

-

-

-

-

-

4,476

-

-

-

-

$

- $ 148 $ 778 $ 8,016

$

-$

28 $ 107 $

-

-

-

32

48

-

-

5

11

-

-

83

612

-

-

-

-

-

-

148

778

-

-

-

-

-

-

-

-

-

-

-

-

8,016

-

-

-

-

-

-

-

8,016

$

- $ 148 $ 778 $ 8,016

Continued---

56

COBB COUNTY SCHOOL DISTRICT COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2012
(amounts expressed in thousands)

ASSETS:
Cash and Cash Equivalents Taxes Receivable Federal and State Aid Receivable Accounts Receivable Accrued Interest Receivable Due From Other Funds Inventories
Total Assets

Districtwide
Building

Capital Projects Special Purpose
Local Option Sales Tax II

Student Information
Systems

Total

$ 4,761 $ -
502 -
$ 5,263 $

23,002 $ -
23,002 $

395 $ 12 -
407 $

59,633 12
7,525 516 -
4,476 1,706
73,868

LIABILITIES AND FUND BALANCES:

Liabilities:

Accounts Payable

$

Accrued Payroll and Payroll

Withholdings

Accrued Employee Benefits

Due to Other Funds

Deferred Revenue

Total Liabilities

Fund Balances:

Nonspendable

Restricted

Committed

Assigned

Total Fund Balances

Total Liabilities and Fund Balances

$

1,265 $
1,265
3,998 3,998 5,263 $

68 $
1 69

-$
11 11

2,529
4,913 1,526 2,811
630 12,409

22,933
-
22,933
23,002 $

396
396
407 $

1,706 43,133 11,883
4,737
61,459
73,868

Concluded.

57

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COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2012

(amounts expressed in thousands)
REVENUES: Taxes Intergovernmental Tuition and Fees Interest Income Athletic Ticket Sales Other
Total Revenues

Donations

$

-

-

-

-

-

195

195

Facility Use/ Public Safety

Special Revenue Performing

After

Arts/ Artist

School

at School

Program

Program

$

-$

-$

-

-

-

-

1,216

7,437

378

-

-

-

-

-

-

-

-

2

1,216

7,437

380

Tuition School/ Adult High School

$

-

-

794

-

-

-

794

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

4

-

760

3

-

-

3

-

-

64

454

6,495

-

-

-

-

1,098

-

-

-

-

-

-

30

74

1,552

7,285

121

(336)

152

-

721

-

-

(160)

-

-

-

-

-

561

-

351

578

-

1

-

82

-

287

-

-

-

4

-

-

-

4

351

956

29

(162)

7

200

-

-

-

-

7

200

Net Change in Fund Balances Fund Balances, Beginning of Year

121

225

152

36

38

42

590

1,581

131

951

Fund Balances, End of Year

$

163 $

815 $ 1,733 $

167 $

989

58

Misc. Grants

$

-

178

-

-

-

3

181

Special Revenue

School Nutrition

$

-

30,951

19,619

60

-

24

50,654

ARRA Grants

$

-

592

-

-

-

-

592

Adult Education

$

-

1,052

-

-

-

-

1,052

Psycho Education
Center

$

-

5,640

-

-

-

37

5,677

67

-

39

-

73

-

2

51,220

-

-

-

-

-

-

-

571

181

51,791

-

-

4,142

-

-

1,143

3

-

306

1

1,052

63

588

-

21

-

-

32

-

-

-

-

-

-

592

1,052

5,707

-

(1,137)

-

-

(30)

-

-

-

-

-

-

-

-

-

-

-

2

-

-

-

-

2

-

-

-

-

(1,135)

-

-

23,041

-

-

(30)

-

373

$

- $ 21,906 $

-$

- $ 343

Continued---

59

COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2012

(amounts expressed in thousands)

Special Revenue

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

Title I

$

-

18,456

-

-

-

-

18,456

Special Education

$

-

22,663

-

-

-

-

22,663

Vocational Education

$

-

645

-

-

-

-

645

Title II

$

-

2,592

-

-

-

-

2,592

Homeless Grant

$

-

80

-

-

-

-

80

9,783

14,416

337

1

3

298

3,968

-

-

6

4,580

2,207

203

2,554

19

2,293

774

7

33

23

1,488

1,298

-

-

29

-

-

-

-

-

-

-

-

-

-

14

-

98

4

-

18,456

22,663

645

2,592

80

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

$

-$

-$

-$

-$

-

60

Special Revenue

Learn and Serve

Title III

Title IV

Local School Funds

$

-$

-$

-$

-

8

1,167

3,977

-

-

-

-

25,991

-

-

-

13

-

-

-

3,410

-

-

-

-

8

1,167

3,977

29,414

7

63

873

-

-

349

2,603

-

1

749

203

-

-

6

92

-

-

-

169

-

-

-

19

-

-

-

-

29,746

-

-

18

3

8

1,167

3,977

29,749

-

-

-

(335)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(335)

-

-

-

8,351

$

-$

-$

- $ 8,016

Continued---

61

COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2012

(amounts expressed in thousands)

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

DistrictWide
Building

Capital Projects Special Purpose
Local Option Sales Tax II

Student Information
Systems

$

-$

-

-

20

-

3,202

3,222

-$

6

-

-

-

-

65

2

-

-

-

-

65

8

Total

$

6

88,001

55,435

160

3,410

3,463

150,475

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

-
1,112 -
7,636 8,748
(5,526)
(1,600)
(1,600)

-
1,297 -
4,657 5,954
(5,889)
(22,234)
(22,234)

-

31,385

-

8,410

-

10,983

-

65,275

-

3,593

-

1,153

-

29,746

-

13,035

-

163,580

8

(13,105)

-

928

(8)

(24,002)

-

2

(8)

(23,072)

Net Change in Fund Balances Fund Balances, Beginning of Year

(7,126) 11,124

(28,123) 51,056

-

(36,177)

396

97,636

Fund Balances, End of Year

$ 3,998 $

22,933 $

396 $ 61,459

Concluded.

62

COBB COUNTY SCHOOL DISTRICT DONATIONS-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)

REVENUES: Local
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

$

195 $

195 $

195

195

195

195

Variance With Final Budget -
Positive (Negative)

$

-

-

EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services General Administration School Administration Central Operations
Total Expenditures

10

10

11

11

12

12

1

1

2

2

193

193

229

229

4

6

3

8

3

9

-

1

1

1

63

130

74

155

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

(34)

(34)

121

155

42

42

42

-

$

8$

8$

163 $

155

63

COBB COUNTY SCHOOL DISTRICT FACILITY USE/ PUBLIC SAFETY-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)

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

Budgeted Amounts

Original

Final

Actual Amounts

$

1,236 $

1,236 $

1,216

721

721

721

1,957

1,957

1,937

1,281 675
1,956

1,281 675
1,956

1,098 614
1,712

Variance With Final Budget -
Positive (Negative)

$

(20)

-

(20)

183 61 244

Net Change in Fund Balance Fund Balance, Beginning of Year

1

1

225

224

590

590

590

-

Fund Balance, End of Year

$

591 $

591 $

815 $

224

64

COBB COUNTY SCHOOL DISTRICT AFTER SCHOOL PROGRAM-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)

REVENUES: Local
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

$

7,077 $

7,077 $

7,437

7,077

7,077

7,437

Variance With Final Budget -
Positive (Negative)

$

360

360

EXPENDITURES: Instruction Community Service Operations
Total Expenditures

727

727

759

(32)

6,350

6,941

6,526

415

7,077

7,668

7,285

383

Net Change in Fund Balance

-

(591)

152

743

Fund Balance, Beginning of Year

1,581

1,581

1,581

-

Fund Balance, End of Year

$

1,581 $

990 $

1,733 $

743

65

COBB COUNTY SCHOOL DISTRICT PERFORMING ARTS/ARTIST AT SCHOOL PROGRAM-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)

REVENUES: Local Other
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

$

371 $

371 $

380

7

7

7

378

378

387

Variance With Final Budget -
Positive (Negative)

$

9

-

9

EXPENDITURES: Instruction
Total Expenditures

378

384

351

33

378

384

351

33

Net Change in Fund Balance

-

(6)

36

42

Fund Balance, Beginning of Year

131

131

131

-

Fund Balance, End of Year

$

131 $

125 $

167 $

42

66

COBB COUNTY SCHOOL DISTRICT TUITION SCHOOL/ADULT HIGH SCHOOL-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)

REVENUES: Local Other
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

$

1,029 $

1,029 $

794

200

200

200

1,229

1,229

994

Variance With Final Budget -
Positive (Negative)

$

(235)

-

(235)

EXPENDITURES:

Instruction

677

676

578

98

Pupil Services

-

-

1

(1)

Improvement of Instructional Services

120

121

70

51

Educational Media Services

22

22

12

10

School Administration

69

69

36

33

Maintenance and Operation of Plant

23

23

4

19

Community Services Operations

318

363

255

108

Total Expenditures

1,229

1,274

956

318

Net Change in Fund Balance

-

(45)

38

83

Fund Balance, Beginning of Year

951

951

951

-

Fund Balance, End of Year

$

951 $

906 $

989 $

83

67

COBB COUNTY SCHOOL DISTRICT MISCELLANEOUS GRANTS-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)

REVENUES: Local State Federal
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget -
Positive (Negative)

$

-$

3$

3$

-

127

-

-

-

132

378

178

(200)

259

381

181

(200)

EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services General Administration Construction
Total Expenditures

127

105

67

38

54

49

39

10

78

225

74

151

-

1

-

1

-

1

1

-

259

381

181

200

Net Change in Fund Balance

-

-

-

-

Fund Balance, Beginning of Year

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

68

COBB COUNTY SCHOOL DISTRICT SCHOOL NUTRITION-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)

REVENUES:
Local State Federal Other
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

$

19,839 $

19,839 $

19,678

1,225

1,225

1,268

26,606

26,606

29,683

28

28

27

47,698

47,698

50,656

Variance With Final Budget -
Positive (Negative)

$

(161)

43

3,077

(1)

2,958

EXPENDITURES: School Nutrition Program
Total Expenditures

51,510

51,773

51,791

(18)

51,510

51,773

51,791

(18)

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

(3,812) 23,041

(4,075) 23,041

(1,135) 23,041

$

19,229 $

18,966 $

21,906 $

2,940 -
2,940

69

COBB COUNTY SCHOOL DISTRICT ARRA GRANTS - SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)

REVENUES: Federal
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

$

597 $

597 $

592

597

597

592

Variance With Final Budget -
Positive (Negative)

$

(5)

(5)

EXPENDITURES:

Improvement of Instructional Services

8

8

3

5

General Administration

1

1

1

-

Student Transportation

588

588

588

-

Total Expenditures

597

597

592

5

Net Change in Fund Balance Fund Balance, Beginning of Year

-

-

-

-

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

70

COBB COUNTY SCHOOL DISTRICT ADULT EDUCATION-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)

REVENUES:
State Federal
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

$

398 $

410 $

410

680

642

642

1,078

1,052

1,052

Variance With Final Budget -
Positive (Negative)

$

-

-

-

EXPENDITURES: Community Service Operations
Total Expenditures

1,078

1,052

1,052

-

1,078

1,052

1,052

-

Net Change in Fund Balance Fund Balance, Beginning of Year

-

-

-

-

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

71

COBB COUNTY SCHOOL DISTRICT PSYCHO EDUCATION CENTER-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)

REVENUES:
State Federal Other
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

$

4,886 $

5,140 $

5,104

450

657

537

36

72

36

5,372

5,869

5,677

Variance With Final Budget -
Positive (Negative)

$

(36)

(120)

(36)

(192)

EXPENDITURES:

Instruction

3,774

4,201

4,142

59

Pupil Services

1,160

1,215

1,143

72

Improvement of Instructional Services

315

323

306

17

General Administration

48

51

51

-

School Administration

5

5

4

1

Business Services Maintenance and Operation of Plant Student Transportation

10

9

8

1

40

40

32

8

20

25

21

4

Total Expenditures

5,372

5,869

5,707

162

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

-

-

(30)

(30)

373

373

373

-

$

373 $

373 $

343 $

(30)

72

COBB COUNTY SCHOOL DISTRICT TITLE I-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)

REVENUES: Federal
Total Revenues
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services General Administration School Administration Student Transportation Other Support Services
Total Expenditures

Budgeted Amounts

Original

Final

Actual Amounts

$

16,334 $

26,016 $

18,456

16,334

26,016

18,456

10,228 172
2,493 621 -
1,132 1,688
16,334

14,071 364
6,438 827 1
2,103 2,211
26,015

9,783 298
4,589 685 1
1,489 1,611
18,456

Variance With Final Budget -
Positive (Negative)

$

(7,560)

(7,560)

4,288 66
1,849 142 614 600
7,559

Net Change in Fund Balance

Fund Balance, Beginning of Year

Fund Balance, End of Year

$

-$

1 1$

-

(1)

-

-

-$

(1)

73

COBB COUNTY SCHOOL DISTRICT SPECIAL EDUCATION-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)

REVENUES: Federal
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

$

19,202 $

28,021 $

22,663

19,202

28,021

22,663

Variance With Final Budget -
Positive (Negative)

$

(5,358)

(5,358)

EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services General Administration Student Transportation
Total Expenditures

10,419 5,177 1,682 695 1,229
19,202

18,038 4,908 2,925 851 1,299
28,021

14,416 3,968 2,207
774 1,298
22,663

3,622 940 718 77 1
5,358

Net Change in Fund Balance Fund Balance, Beginning of Year

-

-

-

-

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

74

COBB COUNTY SCHOOL DISTRICT VOCATIONAL EDUCATION-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)

REVENUES: Federal
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

$

752 $

665 $

645

752

665

645

Variance With Final Budget -
Positive (Negative)

$

(20)

(20)

EXPENDITURES:

Instruction

382

417

423

(6)

Improvement of Instructional Services

341

237

214

23

General Administration

29

11

8

3

Total Expenditures

752

665

645

20

Net Change in Fund Balance Fund Balance, Beginning of Year

-

-

-

-

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

75

COBB COUNTY SCHOOL DISTRICT TITLE II-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)

REVENUES: Federal
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

$

2,796 $

3,435 $

2,592

2,796

3,435

2,592

Variance With Final Budget -
Positive (Negative)

$

(843)

(843)

EXPENDITURES:

Instruction

-

-

1

(1)

Improvement of Instructional Services

2,730

3,397

2,558

839

General Administration

66

38

33

5

Total Expenditures

2,796

3,435

2,592

843

Net Change in Fund Balance Fund Balance, Beginning of Year

-

-

-

-

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

76

COBB COUNTY SCHOOL DISTRICT HOMELESS GRANT-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)

REVENUES: Federal
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

$

66 $

94 $

80

66

94

80

Variance With Final Budget -
Positive Negative)

$

(14)

(14)

EXPENDITURES: Instruction Pupil Services General Administration Student Transportation Other
Total Expenditures

16

2

3

(1)

-

9

6

3

32

10

23

-

18

32

29

3

-

41

19

22

66

94

80

27

Net Change in Fund Balance

-

-

-

-

Fund Balance, Beginning of Year

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

77

COBB COUNTY SCHOOL DISTRICT LEARN AND SERVE-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)

REVENUES: Federal
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

$

9$

9$

8

9

9

8

Variance With Final Budget -
Positive (Negative)

$

(1)

(1)

EXPENDITURES: Instruction Improvement of Instructional Services
Total Expenditures

7

7

7

-

2

2

1

1

9

9

8

1

Net Change in Fund Balance

-

-

-

-

Fund Balance, Beginning of Year

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

78

COBB COUNTY SCHOOL DISTRICT TITLE III-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)

REVENUES: Federal
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

$

1,422 $

1,434 $

1,167

1,422

1,434

1,167

Variance With Final Budget -
Positive (Negative)

$

(267)

(267)

EXPENDITURES:

Instruction

54

94

63

31

Pupil Services

873

450

349

101

Improvement of Instructional Services

464

856

729

127

Federal Grant Administration

-

28

20

8

General Administration

31

6

6

-

Total Expenditures

1,422

1,434

1,167

267

Net Change in Fund Balance

-

-

-

-

Fund Balance, Beginning of Year

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

79

COBB COUNTY SCHOOL DISTRICT TITLE IV-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2012

(amounts expressed in thousands)
REVENUES: Federal
Total Revenues

Budgeted Amounts

Original

Final

$

3,036 $

5,044

3,036

5,044

Actual Amounts

$

3,977

3,977

Variance With Final Budget -
Positive (Negative)

$

(1,067)

(1,067)

EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services Educational Media Services Federal Grant Administration General Administration Business Support Services Maintenance & Operations Transportation Other Support Service
Total Expenditures

215 2,723
26 -
59 3 -
10 3,036

1,217 3,307
23 9 179 37 43 20 159 50 5,044

891 2,603
29 -
174 36 29 19 169 27 3,977

326 704
(6) 9 5 1 14 1 (10) 23 1,067

Net Change in Fund Balance

-

-

-

-

Fund Balance, Beginning of Year

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

80

Internal Service Funds These funds are established to account for the financing of goods or services provided by one department to other departments on a cost-reimbursement basis. The District has five individual funds in the Internal Service Funds category. The Unemployment Compensation, Self-Insurance and Dental Insurance Funds are used to account for the District's self-insurance programs. The Flexible Benefits Fund accounts for the District's cafeteria plan of flexible benefits. Purchasing and warehousing costs are allocated to users through the Purchasing/Warehousing Fund.
81

COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF FUND NET ASSETS INTERNAL SERVICE FUNDS JUNE 30, 2012

(amounts expressed in thousands)

Assets:

Unemployment Compensation
Fund

SelfInsurance
Fund

Current Assets: Due from Other Funds Inventories Prepaid Items
Total Current Assets

$

420 $

6,701

-

-

-

-

420

6,701

Flexible Benefits
Fund

$

358

-

-

358

Liabilities:

Current Liabilities: Accounts Payable Claims Payable Accrued Payroll and Payroll Withholdings Accrued Employee Benefits Total Current Liabilities
Noncurrent liabilities: Claims payable, due in more than one year
Net Assets:

-

227

-

-

1,888

-

-

8

-

-

1

-

-

2,124

-

-

4,421

-

Unrestricted

$

420 $

156 $

358

82

Dental Insurance
Fund

Purchasing/ Warehouse
Fund

Total

$

32 $

-$

7,511

-

229

229

10

-

10

42

229

7,750

-

24

251

-

-

1,888

-

14

22

-

2

3

-

40

2,164

-

-

4,421

$

42 $

189 $

1,165

83

COBB COUNTY SCHOOL DISTRICT
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET ASSETS
INTERNAL SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2012

(amounts expressed in thousands)

OPERATING REVENUES: Charges for Services
Total Revenues

Unemployment Compensation
Fund

SelfInsurance
Fund

Flexible Benefits
Fund

$

1,079 $

3,476 $

97

1,079

3,476

97

OPERATING EXPENSES: School and Administrative Services

1,078

5,532

53

Operating Income (Loss)

1

(2,056)

44

Transfers-In Transfers-Out

-

4,094

-

-

-

-

Change in Net Assets Total Net Assets, Beginning of Year

1

2,038

44

419

(1,882)

314

Total Net Assets, End of Year

$

420 $

156 $

358

84

Dental Insurance
Fund

Purchasing/ Warehouse
Fund

Total

$

2,292 $

1,219 $

8,163

2,292

1,219

8,163

3,128

(836)

-
(3,600)

(4,436) 4,478

$

42 $

1,236 (17)
-
(17) 206 189 $

11,027 (2,864) 4,094 (3,600) (2,370) 3,535 1,165

85

COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)
Cash Flows from Operating Activities: Receipts from Interfund Services Provided Payments to Suppliers Payments for Medical Fees and Insurance Claims Payments to Employees

Unemployment Compensation
Fund

SelfInsurance
Fund

$

1,078 $

1,165

-

(310)

(1,078)

(4,359)

-

(590)

Net Cash Provided by (Used in) Operating Activities

-

(4,094)

Cash Flows from Noncapital Financing Activities: Transfers-In Transfers-Out

-

4,094

-

-

Net Cash Provided by (Used in) Noncapital Financing Activities

-

4,094

Net Increase in Cash and Cash Equivalents

-

-

Cash and Cash Equivalents at Beginning of Year Cash and Cash Equivalents at End of Year

-

-

$

-$

-

Reconciliation of Operating Income (Loss) to Net Cash Provided by (Used in) Operating Activities:

Operating Income (Loss)

$

Adjustments to Reconcile Operating Income

(Loss) to Net Cash Provided by (Used in) Operating Activities:
Decrease (Increase) in Due From Other Funds Decrease in Inventories Increase in Prepaid Items Increase in Claims Payables

Increase (Decrease) in Accounts Payable Increase (Decrease) in Accrued Payroll and

Payroll Withholdings Decrease in Due To Other Funds

Total Adjustments

Net Cash Provided (Used) by Operating Activities

$

1$

(2,056)

(1) -
(1) -$

(2,311) -
397 (123)
-
(1) -
(2,038)
(4,094)

86

Flexible Benefits
Fund

Dental Insurance
Fund

Purchasing/ Warehouse
Fund

Total

$

53 $

6,729 $

1,219 $

10,244

-

(1)

(207) $

(518)

-

(3,128)

(15) $

(8,580)

(53)

-

(997) $

(1,640)

-

3,600

-

(494)

-

-

-

(3,600)

-

4,094

-

(3,600)

-

(3,600)

-

494

-

-

-

-

-

-

-

-

$

-$

-$

-$

-

$

44 $

(836) $

(17) $

(2,864)

(44)

4,447

-

-

-

(10)

-

-

-

(1)

-

2,091

14

14

-

(10)

-

397

13

(111)

-

-

3

2

-

-

(13)

(13)

(44)

4,436

17

2,370

$

-$

3,600 $

-$

(494)

87

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Fiduciary Funds These funds are established to account for assets held by the District as a trustee or agent. The District has two individual Agency Funds, the Student Activity Fund and the Payroll Withholding Fund. The funds are used to account for assets held by the District as an agent for special school groups and clubs and for salary withholdings collection agencies.
88

COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES FIDUCIARY FUNDS JUNE 30, 2012
(amounts expressed in thousands)
Agency Funds

ASSETS: Cash and Cash Equivalents
Total Assets

Student Activity

Payroll Withholding

Total

$ 1,207 $

26,154 $ 27,361

1,207

26,154

27,361

LIABILITIES: Due to Student Groups Payroll Withholdings Payable
Total Liabilities

1,207 -
$ 1,207 $

26,154

1,207 26,154

26,154 $ 27,361

89

COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF CHANGES IN FIDUCIARY ASSETS AND LIABILITIES FIDUCIARY FUNDS FOR THE YEAR ENDED JUNE 30, 2012
(amounts expressed in thousands)

ASSETS: Cash and Cash Equivalents
Balance, Beginning of Year Additions Deductions
Balance, End of Year

Student Activity

Payroll Withholding

Total

$

1,164 $

24,143 $

25,307

1,152

440,025

441,177

(1,109)

(438,014)

(439,123)

$

1,207 $

26,154 $

27,361

LIABILITIES: Due to Student Groups:
Balance, Beginning of Year Additions Deductions
Balance, End of Year
Payroll Withholdings Payable: Balance, Beginning of Year Additions Deductions
Balance, End of Year
Total Liabilities: Balance, Beginning of Year Additions Deductions
Balance, End of Year

$

1,164 $

1,152 (1,109)

1,207

-$ -
-

1,164 1,152 (1,109)
1,207

-

24,143

24,143

-

440,025

440,025

-

(438,014)

(438,014)

-

26,154

26,154

1,164 1,152 (1,109)

24,143 440,025 (438,014)

25,307 441,177 (439,123)

$

1,207 $

26,154 $

27,361

90

COBB COUNTY SCHOOL DISTRICT SPLOST II - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2012
LOCATION/DESCRIPTION
ACWORTH INTERMEDIATE ADDISON ELEMENTARY ADULT EDUCATION CENTER ALLATOONA HIGH ARGYLE ELEMENTARY AUSTELL INTERMEDIATE AUSTELL PRIMARY AWTREY MIDDLE BAKER ELEMENTARY BAKER ROAD BUS SHOP BARBER MIDDLE BARNES ED CENTER BELLS FERRY ELEMENTARY BELMONT HILLS ELEMENTARY BIG SHANTY ELEMENTARY BIRNEY ELEMENTARY BLACKWELL ELEMENTARY BROWN ELEMENTARY BRUMBY ELEMENTARY BRYANT ELEMENTARY BULLARD ELEMENTARY CAMPBELL HIGH CAMPBELL MIDDLE CHALKER ELEMENTARY CHEATHAM HILL ELEMENTARY CLARKDALE ELEMENTARY CLARKDALE REPLACEMENT ELEMENTARY CLAY ELEMENTARY COMPTON ELEMENTARY COOPER MIDDLE DANIELL MIDDLE DAVIS ELEMENTARY DICKERSON MIDDLE DODGEN MIDDLE DOWELL ELEMENTARY DUE WEST ELEMENTARY DURHAM MIDDLE EAST COBB MIDDLE EAST SIDE ELEMENTARY EAST SIDE REPLACEMENT ELEMENTARY EASTVALLEY ELEMENTARY FAIR OAKS ELEMENTARY FLOYD MIDDLE FORD ELEMENTARY FREY ELEMENTARY GARRETT MIDDLE GARRISON MILL ELEMENTARY GREEN ACRES ELEMENTARY GRIFFIN MIDDLE HARMONY LELAND ELEMENTARY HARRISON HIGH HAVEN @ FITZHUGH LEE HAVEN @ HAWTHORNE SCHOOL HAYES ELEMENTARY HIGHTOWER TRAIL MIDDLE HILLGROVE HIGH HOLLYDALE ELEMENTARY KEHELEY ELEMENTARY KELL HIGH KEMP ELEMENTARY KENNESAW ELEMENTARY KENNESAW MOUNTAIN HIGH KENNESAW WAREHOUSE KINCAID ELEMENTARY KING SPRINGS ELEMENTARY

Approved Budget
553,333 2,295,182
220,500 48,799,343
762,599 158,638 9,226,393 1,606,397 422,625
19,815,465
1,639,228 928,229
1,840,351 1,512,196
974,782 183,750 684,592 2,335,453 689,685
98,000 10,326,795
7,615,640 176,278 120,050
1,800,206 -
1,473,100 2,782,990
192,938 3,902,614
291,415 3,878,680 13,694,820
387,719 5,287,518
137,750 4,562,219
967,129 -
1,381,680 3,196,172 11,924,814
347,831 195,021 920,589 463,177 327,076 16,788,670 4,958,225 932,114 641,097 909,439 559,807 2,070,517 45,739,657 1,865,302 452,025
49,613 169,663 374,593 512,663
610,875 1,372,207

Revised Budget

Expended Inception through 06/30/12

Expended FY12

Encumbered as of 6/30/12

Uncommitted

823,772 1,080,975
401,503 62,121,501
1,016,817 799,639
9,833,156 2,846,000 1,076,773
5,054 16,817,275
923,415 1,003,263 1,421,084 1,615,827 1,361,458
728,686 738,954 2,689,860 1,356,905 709,802 10,756,725 8,594,251 921,585 892,994 2,168,435 3,721,275 1,571,728 2,836,821 1,049,921 6,051,974 832,254 3,312,921 13,211,859 1,129,993 5,915,258 1,291,822 5,743,046 1,334,022 343,028 2,154,972 4,953,072 8,077,787 1,002,064 957,286 1,729,768 977,365 859,513 12,725,504 4,173,375 3,486,291 585,286 468,822 1,372,305 3,276,769 40,171,957 2,664,732 1,008,830 1,503,009 814,807 1,140,833 2,126,658 16,906,626 1,485,704 1,774,532

823,770 1,080,973
401,502 62,106,674
1,016,811 799,639
9,833,156 2,846,000 1,076,773
5,054 16,817,268
923,413 1,003,258 1,421,081 1,615,824 1,361,455
728,684 738,952 2,689,856 1,356,903 709,802 10,756,715 8,594,251 921,583 892,994 2,168,430 3,721,275 1,571,725 2,836,814 1,049,921 6,051,974 832,253 3,312,921 13,211,859 1,129,993 5,915,255 1,291,821 5,743,046 1,334,018 343,028 2,154,968 4,953,068 8,077,787 1,002,063 957,286 1,729,766 977,364 859,512 12,725,500 4,173,373 3,486,282 585,285 468,819 1,372,303 3,276,768 40,090,351 2,664,727 1,008,828 1,503,009 814,807 1,140,833 2,126,656 15,090,093 1,485,700 1,774,528

332,281 3,409,581 393,478 1,758,704 -

9,500 25,203 1,817,854 -

2 2 1 5,327 6 7 2 5 3 3 3 2 2 4 2 10 2 5 3 7 1 3 1 4 4 4 1 2 1 1 4 2 9 1 3 2 1 56,403 5 2 2 (1,321) 4 4

91

COBB COUNTY SCHOOL DISTRICT SPLOST II - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2012
LOCATION/DESCRIPTION LABELLE ELEMENTARY LASSITER HIGH LEWIS ELEMENTARY LINDLEY 6TH GRADE ACADEMY LINDLEY MIDDLE LOST MOUNTAIN MIDDLE LOVINGGOOD MIDDLE MABLETON ELEMENTARY MABRY MIDDLE MAINTENANCE FACILITY ARGO ROAD MARS HILL ROAD BUS SHOP MARTHA MOORE EDUCATION CENTER MCCALL PRIMARY MCCLESKEY MIDDLE MCCLURE MIDDLE MCEACHERN HIGH MILFORD ELEMENTARY MOUNTAIN VIEW ELEMENTARY MT BETHEL ELEMENTARY MURDOCK ELEMENTARY NICHOLSON ELEMENTARY NICKAJACK ELEMENTARY NORTH COBB HIGH NORTON PARK ELEMENTARY OAKWOOD HIGH OSBORNE HIGH PALMER MIDDLE PEBBLEBROOK HIGH PICKETT'S MILL ELEMENTARY PINE MOUNTAIN MIDDLE PITNER ELEMENTARY PITTS TRANSPORTATION CENTER POPE HIGH POWDER SPRINGS ELEMENTARY POWERS FERRY ELEMENTARY RECORDS CENTER RIVERSIDE INTERMEDIATE RIVERSIDE PRIMARY ROCKY MOUNT ELEMENTARY ROSE GARDEN RUSSELL ELEMENTARY SANDERS ELEMENTARY SANDERS ROAD BUS SHOP SEDALIA PARK ELEMENTARY SHALLOWFORD FALLS ELEMENTARY SIMPSON MIDDLE SKY VIEW ELEMENTARY SMITHA MIDDLE SOPE CREEK ELEMENTARY SOUTH COBB HIGH SPRAYBERRY HIGH STILL ELEMENTARY SYSTEMWIDE TAPP MIDDLE TEASLEY ELEMENTARY TIMBER RIDGE ELEMENTARY TRITT ELEMENTARY VARNER ELEMENTARY VAUGHAN ELEMENTARY WALTON HIGH WHEELER HIGH 440 GLOVER STREET 514 GLOVER STREET 538 GLOVER STREET 590 COMMERCE PARK DRIVE TOTAL PROJECT EXPENDITURES TRANSFER/PROPERTY TAX ROLLBACK *** FUND TOTAL ***

Approved Budget
4,507,698 2,677,406 2,633,796
229,988 4,316,636 21,370,265 550,858 10,762,779
9,887,493 715,169 25,171,440 2,224,600 1,967,841 429,522 570,851 5,620,305 232,481 120,050 12,848,547 4,372,185 801,885 12,062,824 273,788 8,888,290 15,218,083 2,523,317 98,000 664,573 954,888 326,250 1,412,708 128,000 9,537,353 880,341 7,854,321 131,076 3,979,977 6,884,096 330,750 1,651,275 5,957,701 699,614 2,855,808 2,111,288 7,020,632 138,791,133 1,257,349 437,327 189,264 1,902,180 652,313 716,503 21,196,265 8,541,169 627,247,680 69,000,000 $ 696,247,680 $

Revised Budget
5,677,475 3,630,268 1,648,826 2,478,802 1,324,032 5,489,759 18,867,750 1,648,166 6,756,949
24,008 5,054
486,469 10,621,636
1,051,616 22,997,909
7,862,199 2,922,177 1,284,851 1,441,753 7,444,203
714,666 848,971 11,666,375 4,948,952 1,334,540 7,937,899 1,031,233 6,184,050 23,205,025 3,177,004 777,488 7,368,801 2,717,333 1,145,449 1,991,963
7,758 867,986 9,018,000 1,315,858
15,054 8,179,558
899,171 6,229
4,047,090 8,381,459
852,537 2,038,460 5,613,762 1,381,341 5,355,312 3,622,139 8,939,905 38,387,324 1,755,073
909,019 734,535 2,920,280 1,011,215 1,167,538 12,226,687 10,509,687 249,845 1,347,300 109,208
88,231 608,120,710 114,867,945 722,988,655

Expended Inception

through 06/30/12

5,668,221

3,630,267

1,648,826

2,478,778

1,324,032

5,489,758

18,867,746

1,648,166

6,756,949

24,008

5,054

486,469

10,621,636

1,051,615

22,997,902

7,862,198

2,922,172

1,284,850

1,441,750

7,444,205

714,661

848,969

11,666,370

4,948,946

1,334,539

7,937,894

1,031,233

6,184,043

23,205,024

3,177,003

777,488

7,368,798

2,717,331

1,145,446

1,991,959

7,758

867,986

9,017,998

1,315,854

15,054

8,179,546

899,170

6,229

4,047,087

8,381,456

852,536

2,038,452

5,613,762

1,381,340

5,355,308

3,622,138

8,939,900

17,377,027

1,755,069

909,017

734,534

2,920,278

1,011,213

1,167,537

12,226,685

10,509,682

249,845

1,347,300

109,207

88,230

585,187,904

114,867,945

$

700,055,849

Expended

Encumbered

FY12

as of 6/30/12

20,750

-

-

-

-

-

(21)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

26,493

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(2)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12,320

-

-

-

-

-

-

-

5,953,584

1,852,557

22,233,815

-

$ 28,187,399 $

1,852,557

Uncommitted
9,254 1 -
24 1 4 1 7 1 5 1 3
(2) 5 2 5 6 1 5 7 1 1 3 2 3 4 2 4 12 1 3 3 1 8 1 4 1 5 21,010,297 4 2 1 2 2 1 2 5 1 1 21,080,249 $ 21,080,249

92

COBB COUNTY SCHOOL DISTRICT SPLOST III - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2012
LOCATION/DESCRIPTION
ACWORTH INTERMEDIATE ADDISON ELEMENTARY ADULT EDUCATION CENTER ALLATOONA HIGH ARGYLE ELEMENTARY AUSTELL INTERMEDIATE AUSTELL PRIMARY AWTREY MIDDLE BAKER ELEMENTARY BAKER ROAD BUS SHOP BARBER MIDDLE BELLS FERRY ELEMENTARY BELMONT HILLS ELEMENTARY BIG SHANTY ELEMENTARY BIRNEY ELEMENTARY BLACKWELL ELEMENTARY BROWN ELEMENTARY BRUMBY ELEMENTARY BRYANT ELEMENTARY BULLARD ELEMENTARY CAMPBELL HIGH CAMPBELL MIDDLE CHALKER ELEMENTARY CHEATHAM HILL ELEMENTARY CLARKDALE ELEMENTARY CLARKDALE REPLACEMENT ELEMENTARY CLAY ELEMENTARY COMPTON ELEMENTARY COOPER MIDDLE DANIELL MIDDLE DAVIS ELEMENTARY DICKERSON MIDDLE DODGEN MIDDLE DOWELL ELEMENTARY DUE WEST ELEMENTARY DURHAM MIDDLE EAST COBB MIDDLE EAST SIDE ELEMENTARY EAST SIDE REPLACEMENT ELEMENTARY EASTVALLEY ELEMENTARY FAIR OAKS ELEMENTARY FLOYD MIDDLE FORD ELEMENTARY FREY ELEMENTARY GARRETT MIDDLE GARRISON MILL ELEMENTARY GREEN ACRES ELEMENTARY GRIFFIN MIDDLE HARMONY LELAND ELEMENTARY HARRISON HIGH HAVEN @ FITZHUGH LEE HAVEN @ HAWTHORNE HAYES ELEMENTARY HIGHTOWER TRAIL MIDDLE HILLGROVE HIGH HOLLYDALE ELEMENTARY KEHELEY ELEMENTARY KELL HIGH KEMP ELEMENTARY KENNESAW ELEMENTARY KENNESAW MOUNTAIN HIGH KENNESAW WAREHOUSE

Approved Budget

Revised Budget

Expended Inception through 06/30/12

Expended FY12

Encumbered as of 6/30/12

Uncommitted

496,193 1,043,331
397,104 -
1,318,244 282,202 113,337
4,154,806 3,436,575
721,525 651,496 7,076,214 1,327,563 2,013,432 3,942,821 377,384 1,077,413 1,080,925 1,040,025 106,366 4,883,357 5,799,494 1,449,276 3,113,452 946,788
514,377 1,427,439 1,101,700 6,180,190 3,827,240 1,885,533 1,662,303 2,198,797 1,210,036 1,460,314 3,613,109
27,030,976
991,794 1,455,706 2,259,564 3,535,560 1,335,206 14,734,437 3,796,410 1,237,190 2,064,731
591,860 4,240,110 1,711,339 1,100,656 1,016,015 5,280,637
176,890 1,061,830 3,508,784
446,849 882,673 2,260,679 3,347,006 21,244,784

1,091,037 1,367,389
397,926 1,943,597 1,802,295
880,630 636,671 4,459,100 3,519,332 598,136 1,726,662 6,238,748 1,339,980 2,062,437 3,717,333 1,050,358 1,325,207 1,885,558 1,742,581 903,964 5,208,381 6,497,188 1,738,280 3,467,601 184,107 5,955,920 820,620 1,907,325 1,841,999 5,958,909 3,129,383 2,238,789 2,346,068 2,353,916 1,412,895 2,247,228 4,081,668 549,764 20,259,565 1,289,138 1,301,700 2,430,076 3,399,096 1,378,728 11,315,304 3,488,118 1,569,863 2,077,700 966,396 21,388,768 288,842 1,052,620 1,423,476 4,468,227 2,531,307 1,288,956 3,441,233 2,731,263 1,394,547 1,948,987 5,280,217 29,289,867

858,701 1,035,600
113,646 1,853,992
635,360 658,369 510,578 1,988,815 971,820
878 1,299,129 5,921,147 1,298,956 2,037,084
698,433 707,037 400,226 1,087,589 977,531 829,463 5,086,093 1,318,550 1,303,141 3,340,922 184,107 5,407,150 798,415 735,694 1,678,214 3,518,407 2,804,920 2,212,949 2,312,078 1,613,507 1,388,328 2,214,422 1,792,588 541,640 19,967,755 1,272,890 1,275,570 1,605,720 702,350 1,296,516 8,659,832 619,374 1,550,538 1,483,268 438,214 3,999,129 283,766 196,398 1,398,328 2,679,194 2,281,432 1,207,955 2,430,877 2,135,930 712,803 1,393,572 4,550,222 7,766,959

363,834 540,846
22,898 1,226,948
127,817 195,637
96,883 1,282,132
435,493 878
343,159 3,819,527
685,076 1,201,037
260,490 64,800 61,897
219,264 283,329 123,078 1,591,021 656,743 202,535 682,481
22,303 3,227,681
431,977 159,367 339,766 2,980,611 990,587 788,587 860,064 283,580 525,131 598,367 410,038
83,525 3,169,783
442,781 327,878 257,121 104,012
60,734 7,314,482
238,490 92,760
648,356 112,070 1,982,217
35,466 42,213 490,638 2,112,217 844,930 420,310 746,705 784,653 180,540 233,759 2,333,145 3,329,040

10,216 127,757
64,466 175,314 72,529 45,111 1,568,693 141,692 37,601 105,876 51,317
10,091 153,259 18,455
71,423
5,941 51,910 75,662 4,332,904 26,984 10,125
438,844
2,885 126,963
6,804 2,045,175
53,780 4,865 9,644
110,281 10,077 6,964 4,865 32,971 9,896 -
100,122 10,512
1,525,162 123,938 512,825 -
14,263,146 -
10,652 717,286
36,028 -
854,333 46,930 18,419 38,550
473,073 1,634,860

222,120 204,032 284,280
25,139 991,621 149,732
80,982 901,592 2,405,820 559,657 321,657 266,284
41,024 15,262 2,865,641 324,866 924,981 726,546 759,109 22,591 46,626 845,734 408,155 116,554
109,926
19,320 1,044,668
156,981 395,327 270,683
20,975 24,346 630,128 14,490 25,842 2,284,215
8,124 258,839
16,248 16,234 824,356 2,596,624 71,700 1,130,310 2,744,806 19,325 81,607 528,182 3,126,493
5,076 856,222
14,496 1,071,747
213,847 81,001
156,023 548,403 663,325 516,865 256,922 19,888,048

93

COBB COUNTY SCHOOL DISTRICT SPLOST III - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2012
LOCATION/DESCRIPTION KINCAID ELEMENTARY KING SPRINGS ELEMENTARY LABELLE ELEMENTARY LASSITER HIGH LEWIS ELEMENTARY LINDLEY 6TH GRADE ACADEMY LINDLEY MIDDLE LOST MOUNTAIN MIDDLE LOVINGGOOD MIDDLE MABLETON ELEMENTARY MABLETON REPLACEMENT ES MABRY MIDDLE MAINTENANCE FACILITY ARGO ROAD MARS HILL ROAD BUS SHOP MARTHA MOORE EDUCATION CENTER MCCALL PRIMARY MCCLESKEY MIDDLE MCCLURE MIDDLE MCEACHERN HIGH MILFORD ELEMENTARY MOUNTAIN VIEW ELEMENTARY MT BETHEL ELEMENTARY MURDOCK ELEMENTARY NICHOLSON ELEMENTARY NICKAJACK ELEMENTARY NORTH COBB HIGH NORTON PARK ELEMENTARY OAKWOOD HIGH OSBORNE HIGH PALMER MIDDLE PEBBLEBROOK HIGH PICKETT'S MILL ELEMENTARY PINE MOUNTAIN MIDDLE PITNER ELEMENTARY PITTS TRANSPORTATION CENTER POPE HIGH POWDER SPRINGS ELEMENTARY POWERS FERRY ELEMENTARY RIVERSIDE INTERMEDIATE RIVERSIDE PRIMARY ROCKY MOUNT ELEMENTARY ROSE GARDEN SCHOOL RUSSELL ELEMENTARY SANDERS ELEMENTARY SANDERS ROAD BUS SHOP SEDALIA PARK ELEMENTARY SHALLOWFORD FALLS ELEMENTARY SIMPSON MIDDLE SKY VIEW ELEMENTARY SMITHA MIDDLE SMYRNA AREA REPLACEMENT ES SOPE CREEK ELEMENTARY SOUTH COBB HIGH SPRAYBERRY HIGH STILL ELEMENTARY SYSTEMWIDE TAPP MIDDLE TEASLEY ELEMENTARY TIMBER RIDGE ELEMENTARY TRITT ELEMENTARY VARNER ELEMENTARY VAUGHAN ELEMENTARY WALTON HIGH WEST COBB 9TH GRADE CENTER WHEELER HIGH 440 GLOVER STREET 514 GLOVER STREET 538 GLOVER STREET 590 COMMERCE PARK DRIVE TOTAL PROJECT EXPENDITURES

Approved Budget

Revised Budget

Expended Inception through 06/30/12

Expended FY12

Encumbered as of 6/30/12

Uncommitted

3,458,008

3,273,505

3,241,646

657,625

10,091

21,768

2,570,192

3,139,532

2,412,261

1,698,200

114,394

612,877

537,008

1,135,294

1,129,233

365,850

-

6,061

19,710,822

20,072,707

13,986,299

11,606,984

5,331,177

755,231

1,078,833

1,625,988

790,378

71,876

41,696

793,914

2,194,040

2,212,854

1,315,145

927,708

630,845

266,864

747,495

1,443,716

1,356,995

300,106

3,142

83,579

2,541,438

2,551,556

1,799,374

282,125

67,865

684,317

78,500

1,052,707

1,010,991

287,283

6,908

34,808

-

376,819

371,960

35,644

-

4,859

28,150,542

22,226,904

19,582,991

16,953,132

1,904,457

739,456

4,925,337

4,626,178

3,714,765

153,876

4,865

906,548

1,327,752 820,382 518,652 110,691
18,904,274 690,684
4,945,324 914,540
2,083,632 2,433,140 3,828,525
937,614 3,006,933 29,811,178 1,924,009
772,510 7,299,608
63,477 3,300,243
17,072,723
926,767 26,949,449 17,804,561
3,742,333 657,886 896,148 323,888
1,611,065 372,663 786,539
1,446,584 1,415,981 1,057,753

1,111,144 696,449 915,742 730,611
12,421,542 1,587,463 6,620,956 1,302,102 2,345,468 2,299,573 3,624,702 1,230,668 2,783,980
22,430,769 2,393,267 971,526 8,531,789 889,260 6,206,685 515,707
10,146,659 1,499,960
22,189,661 16,101,861
3,467,420 993,843
1,349,662 642,515
1,756,800 336,184
1,570,912 1,553,405 1,133,939 1,195,919

1,049,277 646,172 478,857 637,700
9,540,191 1,131,142 3,855,243
601,291 1,689,777 1,102,434 2,667,969
467,813 1,719,013 20,884,612 1,568,760
201,185 2,940,248
811,431 4,876,552
489,909 8,474,174
806,245 13,414,487 13,238,679
1,036,511 975,751 939,677 600,373 755,858 48,968
1,131,379 1,536,660
925,059 1,184,840

1,007,566 3,883
246,131 118,342 6,790,158 593,361 1,627,174
94,510 705,261 259,896 184,480
91,029 1,110,615 4,149,301
105,868 58,597
1,142,198 195,017
2,797,952 47,651
4,260,905 246,299
6,138,414 5,763,925
209,326 363,397 454,321 200,582
85,145 39,741 457,045 681,320 897,709 430,075

1,914 29,914
30,252 1,339,248 215,205 70,893
28,038 26,343
2,799 53,854 385,659 288,257
7,580 7,634 172,767 8,903 977,244 10,070 317,231 9,796 263,142 241,571
94,484 10,188 60,297 14,721 393,647 61,890 -

59,953 20,363 436,885 62,659 1,542,103 241,116 2,694,820 700,811 627,653 1,170,796 953,934 709,001 679,308 1,257,900 816,927 762,707 5,418,774 68,926 352,889 15,728 1,355,254 683,919 8,512,032 2,621,611 2,430,909 18,092 315,501 31,954 940,645 272,495 45,886 16,745 146,990 11,079

899,547

1,351,747

625,426

59,196

10,091

716,230

19,920,740

13,070,889

10,430,386

7,184,617

589,710

2,050,793

1,262,673

383,049

383,046

22,530

-

3

5,472,621

5,152,882

866,362

196,764

4,865

4,281,655

28,170,146

32,063,692

15,424,324

14,968,124

13,490,688

3,148,680

6,227,104

5,749,651

4,368,736

3,456,130

758,661

622,254

28,519,045

26,057,837

25,109,055

4,524,468

189,812

758,970

25,333,056

16,176,537

15,105,084

4,445,189

229,509

841,944

970,841

1,433,096

634,140

34,470

10,574

788,382

231,269,444

39,485,008

6,165,160

1,889,119

-

33,319,848

6,640,133

6,009,661

931,443

214,902

187,765

4,890,453

1,782,903

2,173,315

1,381,377

234,151

43,466

748,472

769,896

1,068,319

439,750

100,860

10,091

618,478

1,473,177

1,725,819

1,650,259

802,228

10,091

65,469

4,070,429

3,051,080

2,874,595

465,620

55,121

121,364

613,490

1,247,398

3,456,045

6,616,773

18,303,208

-

9,409,088

28,258,575

379,955

12,223,772

491,861

3,830,261

229,503

401,066

-

43,102

$ 797,656,675 $ 631,492,408 $

1,169,603

399,835

5,522,714

3,434,988

-

-

13,099,596

10,728,493

3,543,465

1,436,539

2,736,265

1,165,742

341,208

290,168

40,080

2,252

398,026,420 $ 183,447,675 $

2,068

75,727

801,550

292,509

-

-

12,749,749

2,409,230

169,721

8,510,586

10,312

1,083,684

1,098

58,760

-

3,022

72,951,099 $ 160,514,889

94

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STATISTICAL SECTION
(Unaudited)
This part of the District's Comprehensive Annual Financial Report presents detailed information as a context for understanding what the information in the financial statements, note disclosures and required supplementary information says about the District's overall financial position.
Contents:
Financial Trends These schedules contain trend information to help the reader understand how the District's financial performance has changed over time.
Revenue Capacity These schedules contain information to help the reader assess the District's major revenue sources.
Debt Capacity These schedules present information to help the reader assess the affordability of the District's current level of outstanding debt and the District's ability to issue additional debt in the future.
Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the District's financial activities take place.
Operating Information These schedules contain staffing, key operating statistics, comparisons and capital asset 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 contained here is derived from comprehensive annual financial reports for the indicated years. The District began implementation of GASB Statement No. 54 as of July 1, 2010.
95

COBB COUNTY SCHOOL DISTRICT NET ASSETS BY COMPONENT LAST TEN FISCAL YEARS
(amounts expressed in thousands)

Net Asset Components
Invested in Capital Assets, Net of Related Debt
Restricted for: Debt Service Special Purpose Local Option Sales Tax II Special Purpose Local Option Sales Tax III Food & Nutrition Services
Unrestricted
Total Primary Government Net Assets

June 30, 2003

$

543,172

16,989 -
76,861

$

637,022

Fiscal Year

June 30, 2004

June 30, 2005

$

508,226 $

653,443

18,340 -
217,726

11,361 -
238,391

$

744,292 $

903,195

June 30, 2006

$

873,831

6,777 -
170,994
$ 1,051,602

Source: District Records

96

June 30, 2007

$

877,694

June 30, 2008 $ 1,054,860

Fiscal Year

June 30, 2009

June 30, 2010

$ 1,060,388 $ 1,054,911

June 30, 2011 $ 1,066,545

June 30, 2012 $ 1,230,853

11,785 -
319,370

1,826 -
227,758

1,523 -
244,178

1,356 -
285,849

51,056 112,546 21,676 171,646

22,933 33,222 20,200 147,483

$ 1,208,849 $ 1,284,444 $ 1,306,089 $ 1,342,116 $ 1,423,469 $ 1,454,691

97

COBB COUNTY SCHOOL DISTRICT CHANGES IN NET ASSETS LAST TEN FISCAL YEARS
(amounts expressed in thousands)
Expenses Governmental Activities: Instruction Pupil Services Instructional Services School and Administrative Services Student Transportation Maintenance and Operations Student Activities Interest and Fiscal Charges
Total Governmental Expenses
Program Revenues Governmental Activities: Charges For Services:
Instruction Pupil Services School and Administrative Services Maintenance and Operations Student Activities Operating Grants and Contributions Capital Grants and Contributions
Total Program Revenues
Governmental Net Expenses
General Revenues and Other Changes in Net Assets General Revenues Taxes:
Property Taxes Levied for General Purposes Property Taxes Levied for Debt Service Sales Tax Intergovernmental Tuition and Fees Interest Income Insurance and Damage Recoveries Gain on Sale of Net Assets Other
Total General Revenues Extraordinary Item:
Gain after Insurance Recovery
Change in Net Assets

June 30, 2003

Fiscal Year

June 30, 2004

June 30, 2005

June 30, 2006

$

570,553 $

564,592 $

581,871 $

629,565

20,391

20,529

22,342

24,453

28,920

32,235

32,643

36,513

136,238

141,537

142,323

149,359

36,097

37,444

40,610

43,660

47,910

45,096

47,238

53,565

32,401

33,023

29,401

29,476

10,307

8,004

6,375

4,500

$

882,817 $

882,460 $

902,803 $

971,091

$

1,281 $

1,326 $

1,340 $

1,361

7

7

12

13

36,186

39,166

41,514

40,710

985

1,360

833

840

33,059

34,881

30,438

29,651

396,829

398,800

397,845

437,251

15,204

8,404

38,203

20,306

$

483,551 $

483,944 $

510,185 $

530,132

$ (399,266) $ (398,516) $ (392,618) $ (440,959)

$

353,596 $

368,618 $

380,687 $

412,017

18,344

18,691

19,279

20,851

103,256

108,864

115,673

125,742

6,653

4,951

6,283

12,928

-

28

-

-

4,535

4,036

9,447

17,178

8

3

1

2

(154)

-

-

-

371

595

500

648

$

486,609 $

505,786 $

531,870 $

589,366

-

-

-

-

$

87,343 $

107,270 $

139,252 $

148,407

Source: District Records
98

June 30, 2007

June 30, 2008

Fiscal Year

June 30, 2009

June 30, 2010

June 30, 2011

June 30, 2012

$

690,562

25,523

38,970

171,343

45,646

55,836

-

4,606

$ 1,032,486

$

729,888

27,550

48,324

186,033

49,432

58,822

-

2,413

$ 1,102,462

$

737,527

29,467

47,395

182,836

47,802

61,988

-

300

$ 1,107,315

$

737,900

31,584

46,721

165,345

46,513

60,912

-

-

$ 1,088,975

$

689,680

30,563

48,853

152,083

43,563

56,608

28,930

93

$ 1,050,373

$

682,212

30,031

51,475

175,717

44,698

60,143

29,746

118

$ 1,074,140

$

1,205 $

1,481 $

1,276 $

1,184 $

1,241 $

1,068

6

11

11

10

13

11

44,245

44,199

43,557

41,142

27,312

27,921

893

1,110

2,254

1,332

909

983

-

-

-

-

28,721

29,402

481,508

501,582

468,115

491,465

518,300

478,937

34,884

866

2,739

199

541

30,832

$

562,741 $

549,249 $

517,952 $

535,332 $

577,037 $

569,154

$ (469,745) $ (553,213) $ (589,363) $ (553,643) $ (473,336) $ (504,986)

$

445,840 $

466,320 $

482,690 $

470,456 $

423,694 $

405,965

22,473

1,415

142

52

43

-

129,099

128,043

110,242

112,395

113,739

122,557

14,178

17,428

7,307

2,323

1,475

1,079

-

-

-

-

-

-

21,231

15,070

5,931

2,979

3,070

2,076

4

-

-

-

-

-

-

-

-

-

-

516

523

532

876

953

2,962

4,015

$

633,348 $

628,808 $

607,188 $

589,158 $

544,983 $

536,208

-

-

-

512

-

-

$

163,603 $

75,595 $

17,825 $

36,027 $

71,647 $

31,222

99

COBB COUNTY SCHOOL DISTRICT FUND BALANCES, GOVERNMENTAL FUNDS LAST TEN FISCAL YEARS
(amounts expressed in thousands)

General Fund Reserved Unreserved Nonspendable Restricted Committed Assigned Unassigned Total General Fund

June 30, 2003

Fiscal Year

June 30, 2004

June 30, 2005

June 30, 2006

$

18,743 $

17,008 $

18,418 $

18,825

40,403

41,832

51,463

93,944

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

$

59,146 $

58,840 $

69,881 $

112,769

All Other Governmental Funds

Reserved

$

Unreserved, reported in:

Special Revenues Funds

Capital Projects Funds

Nonspendable

Restricted

Committed

Assigned

Total All Other Governmental Funds $

32,801 $

178,103 $

11,379 (14,049)
30,131 $

16,175 (130,328)
63,950 $

79,166 $
20,543 (43,463)
56,246 $

127,327
24,459 (88,793)
62,993

(a) Implementation of GASB Statement No. 54: Fund Balance Reporting and Governmental Fund Type Definitions began July 1, 2010. Statement No. 54 provides clarification and transparency to fund balance classifications. The new standard changes overall definitions and classifications of governmental fund balance. Prior to these classifications, fund balance was separated into two groups, Reserved and Unreserved. Under GASB No. 54,the District's fund balance is classified as follows:
1) Nonspendable Fund Balance - Noncash assets, such as inventories and prepaid items. 2) Restricted Fund Balance - Funds with limitations imposed on their use by external restrictions. 3) Committed Fund Balance - Amounts that can only be used for specific purposes pursuant to a formal vote of the
Cobb County Board of Education. 4) Assigned Fund Balance - Amounts designated by the Board of Education for specific purposes. 5) Unassigned Fund Balance - Residual, spendable fund balance after subtracting categories listed above.
Source: District Records
100

June 30, 2007

June 30, 2008

Fiscal Year

June 30, 2009

June 30, 2010

June 30, 2011 (a) June 30, 2012 (a)

$

28,335 $

26,739 $

114,566

101,848

-

-

-

-

-

-

-

-

-

-

$

142,901 $

128,587 $

2,714 $ 77,575
80,289 $

5,823 $ 79,783
85,606 $

-$ 324 46,256 99,863 146,443 $

353 34,396 98,637 133,386

$

61,017 $

22,063

(18,507)

-

-

-

-

$

64,573 $

21,580 $
22,627 53,105
97,312 $

24,165 $
20,470 115,594
160,229 $

67,008 $
22,966 108,716
198,690 $

-$
1,365 136,076 11,646 11,893 160,980 $

-
1,706 76,355 11,883 4,737 94,681

101

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

(amounts expressed in thousands)
REVENUES: Taxes Intergovernmental Tuition and Fees Interest Income Insurance and Damage Recoveries Rentals Athletic Ticket Sales Other
Total Revenues
EXPENDITURES: Current:
Instruction Pupil Services Instructional Services School and Administrative Services Student Transportation Maintenance and Operations Student Activities Interest and Fiscal Charges Capital Outlay Debt Service: Principal Retirement Interest and Fiscal Charges
Total Expenditures
Excess (Deficiency) of Revenues Over (Under) Expenditures
Other Financing Sources (Uses): Transfers-In Transfers-Out Proceeds from Sale of Capital Assets Proceeds from Capital Lease Agreements Deferred Amount of Refunding Premium on Bonds Issued Refunding Bonds Redeemed Refunding Bonds Issued Total Other Financing Sources (Uses)
Extraordinary Item: Proceeds from Insurance Recovery
Net Change in Fund Balances

2003
$ 471,265 418,577 58,375 4,535 8 603 2,652 480 956,495

Fiscal Year

2004

2005

$ 491,878 $ 512,566

411,814

442,157

60,578

58,275

4,036

9,447

3

1

970

433

2,991

3,219

937

639

973,207

1,026,737

2006
$ 555,012 470,136 58,905 17,178 2 334 2,908 1,000
1,105,475

532,608 17,102 27,294
118,351 30,677 46,495 32,401 71,058
39,560 11,160 926,706

538,504 17,729 31,182
120,842 32,506 44,591 33,023 74,898
41,501 8,838
943,614

545,466 19,280 31,060
125,244 34,900 46,116 29,401 -
139,852
44,462 8,095
1,023,876

573,603 20,998 33,948
126,927 37,443 51,251 29,476 -
147,980
46,561 6,320
1,074,507

29,789

29,593

2,861

30,968

30,468 (33,416)
11 4,215
1,278

24,669 (27,904)
1,843 5,312
3,920

24,938 (26,032)
2 (1,289) 4,062 (128,870) (a) 127,665 (a) 476

34,827 (35,992)
181 -
(984)

-

-

$

31,067 $

33,513 $

3,337 $

29,984

Non-Capitalized Expenditures Capitalized Expenditures Total Expenditures

$ 879,302 $ 873,979 $ 900,487

47,404

69,635

123,389

$ 926,706 $ 943,614 $ 1,023,876

$ 962,671 111,836
$ 1,074,507

Debt Service as a Percentage of Non Capitalized Expenditures

5.77%

5.76%

5.84%

5.49%

(a) In fiscal year 2005, the District issued $127,665,000 of general obligation bonds for a refunding of $128,870,000 of series 1995 general obligation bonds. The refunding was undertaken to reduce total future debt service payments.

Source: District Records

102

2007
$ 593,038 529,965 34,488 21,231 4 397 782
1,179,905

2008
$ 589,915 519,632 34,795 15,070 1 631 735
1,160,779

Fiscal Year

2009

2010

$ 585,637 477,654 33,143 5,931 11 1,824 1,374
1,105,574

$ 574,944 493,883 31,684 2,979 3 897 1,060
1,105,450

2011
$ 540,938 520,316 54,410 3,070 466 3,320 2,753
1,125,273

2012
$ 530,686 510,582 55,448 2,325 526 3,410 4,016
1,106,993

653,593 23,117 37,193
154,002 40,328 55,007 -
131,234
49,699 6,092
1,150,265

700,308 25,206 46,992
167,644 45,002 58,119 92,901
1,810 2,413 1,140,395

692,193 25,770 45,427
164,325 43,938 61,237 48,372
7,376 300
1,088,938

675,152 26,636 43,890
142,959 41,949 59,112 75,261
1,064,959

634,684 25,611 47,255
148,066 40,509 56,584 28,930 93
128,890
1,110,622

634,330 25,740 49,700
169,535 41,469 56,514 29,746 118
179,490
1,186,642

29,640

20,384

16,636

40,491

14,651

(79,649)

25,953 (27,730)
340 9,865
8,428

6,345 (8,476)
172 -
(1,959)

3,576 (5,696)
103 -
(2,017)

3,492 (4,271)
114 -
(665)

27,953 (29,451)
268 -
(1,230)

24,930 (25,424)
787 -
293

-

$

38,068

$ 1,028,751 121,514
$ 1,150,265

-

$

18,425

$ 1,055,849 84,546
$ 1,140,395

-

3,952

-

-

$

14,619 $

43,778 $

13,421 $ (79,356)

$ 1,050,220 38,718
$ 1,088,938

$ 1,019,111 45,848
$ 1,064,959

$ 994,729 115,893
$ 1,110,622

$ 1,010,754 175,888
$ 1,186,642

5.42%

0.40%

0.73%

-

-

-

103

COBB COUNTY SCHOOL DISTRICT PROPERTY TAX LEVIES AND COLLECTIONS JUNE 30, 2012
Property Taxes Collected and Balances Receivable

2006

2007

2008

2009

2010

2011

amounts in thousands
$500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2012

Balance Receivable

Debt Service Collections

General Fund Collections

Balances as of June 30, 2012 (amounts expressed in thousands)

2006

2007

2008

2009

General Fund:

Total Taxes Levied

$ 394,318 $ 428,739 $ 459,381 $ 477,932

2010 $ 468,234

2011 $ 428,077

2012 $ 403,777

Total $ 3,060,458

Collected or Released:

Current Year

$ 391,222 $ 424,419 $ 454,048 $ 470,480 $ 460,995 $ 421,459 $ 398,279 $ 3,020,902

% of Total Taxes Levied

99.21% 98.99% 98.84% 98.44% 98.45% 98.45% 98.64%

98.71%

Subsequent Years

2,792

4,093

4,954

6,656

5,253

4,388

-

28,136

Total Coll. or Released $ 394,014 $ 428,512 $ 459,002 $ 477,136 $ 466,248 $ 425,847 $ 398,279 $ 3,049,038

Balance Receivable

$ 304 $ 227 $ 379 $ 796 $ 1,986 $ 2,230 $ 5,498 $ 11,420

% Collected/Released

99.92% 99.95% 99.92% 99.83% 99.58% 99.48% 98.64%

99.63%

Debt Service Fund:(a)

Total Taxes Levied

$ 19,886 $ 21,109 $

-$

-$

-$

-$

- $ 40,995

Collected or Released:

Current Year

$ 19,722 $ 20,872 $

% of Total Taxes Levied

99.18% 98.88%

Subsequent Years

148

214

-$ -

-$ -

-$ -

-$ -

- $ 40,594

-

99.02%

-

362

Total Coll. or Released Balance Receivable % Collected/Released
Total - All Funds:
Total Taxes Levied

$ 19,870 $ 21,086 $

$

16 $

23 $

99.92% 99.89%

-$ -$ 0.00%

-$ -$ 0.00%

-$ -$ 0.00%

-$ -$ 0.00%

-$ -$ 0.00%

40,956 39
99.90%

$ 414,204 $ 449,848 $ 459,381 $ 477,932 $ 468,234 $ 428,077 $ 403,777 $ 3,101,453

Collected or Released: Current Year % of Total Taxes Levied Subsequent Years Total Coll. or Released Balance Receivable

$ 410,944 $ 445,291 $ 454,048 $ 470,480 $ 460,995 $ 421,459 $ 398,279 $ 3,061,496

99.21% 98.99% 98.84% 98.44% 98.45% 98.45% 98.64%

98.71%

2,940

4,307

4,954

6,656

5,253

4,388

-

28,498

$ 413,884 $ 449,598 $ 459,002 $ 477,136 $ 466,248 $ 425,847 $ 398,279 $ 3,089,994

$ 320 $ 250 $ 379 $ 796 $ 1,986 $ 2,230 $ 5,498 $ 11,459

% Collected/Released

99.92% 99.94% 99.92% 99.83% 99.58% 99.48% 98.64%

99.63%

Note: Only seven years of data is presented because the Georgia statute of limitations for collection of delinquent taxes is seven years.
(a) Debt Service millage discontinued July 2007. Debt Service was fully paid by the end of fiscal year 2007.
Source: Cobb County Government
104

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

amounts in thousands
$30,000,000

Property Digest Components-Assessed Value

$25,000,000

$20,000,000

$15,000,000

$10,000,000

$5,000,000

$0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Motor Vehicles

Public Services

Maint & Oper

Debt Service

(amounts expressed in thousands)

Fiscal Year 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Net M & O

For Maintenance and

Operations of Schools

Real

Personal

Property

Property

$ 14,221,023 $ 1,337,804

14,869,386 1,278,400

15,849,951 1,276,988

17,288,487 1,319,018

18,981,827 1,344,532

20,510,838 1,343,632

21,420,500 1,451,112

21,007,134 1,424,923

18,958,062 1,352,078

17,573,940 1,357,140

Net Bond

For Debt Service of

School Bonds

Real

Personal

Property

Property

$ 15,501,647 $ 1,337,804

16,174,359

1,278,400

17,146,090

1,276,988

18,630,090

1,319,018

20,349,394

1,344,532

-

-

-

-

-

-

-

-

-

-

Public Services
Digest $ 457,613
451,723 450,043 457,754 491,717 485,234 523,121 547,675 680,936 753,229

Motor Vehicles
Digest $ 1,783,997
1,774,879 1,736,742 1,688,346 1,747,132 1,845,671 1,892,692 1,794,543 1,658,511 1,679,543

Total Assessed
Value $ 19,081,061
19,679,361 20,609,863 22,095,208 23,932,775 24,185,375 25,287,425 24,774,275 22,649,587 21,363,852

Estimated Actual Value $ 47,702,651 49,198,403 51,524,657 55,238,019 59,831,937 60,463,438 63,218,563 61,935,688 56,623,969 53,409,628

Direct Rate 19.00% 19.00% 19.00% 19.00% 19.00% 18.90% 18.90% 18.90% 18.90% 18.90%

Note: Prior to 2008, the property digest for debt service of school bonds included properties annexed by the City of Marietta which were no longer taxed for general operations but were still taxed for unpaid school bonds issued before the date of annexation. Taxes levied for debt service were discontinued in July, 2007 after bonds were fully paid in fiscal year 2007. Prior to 2008, Maintenance and Operations were included in the bonds amount; therefore, in 2008 through 2012, only the M & O is reflected.
Property Taxes - Assessments are based on 40% of the appraised market value by law as of January 1 each year. School tax, by law, cannot be greater than 20 mills per dollar for the support and maintenance of education. Source: Cobb County Tax Commissioner

105

COBB COUNTY SCHOOL DISTRICT DIRECT AND OVERLAPPING PROPERTY TAX RATES LAST TEN FISCAL YEARS JUNE 30, 2012

22.000 20.000 18.000 16.000 14.000 12.000 10.000 8.000

2003

2004

2005

2006

2007

2008

2009

2010

School District

Cobb County

2011

2012

(all tax rates are per $1000 assessed valuation)

Fiscal Year 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Cobb County

School District

M&O Debt

19.00 0.90

19.00 0.90

19.00 0.90

19.00 0.90

19.00 0.90

18.90

-

18.90

-

18.90

-

18.90

-

18.90

-

Cobb County M&O Debt 9.45 0.27 9.50 0.22 9.50 0.22 9.38 0.22 9.38 0.22 9.38 0.22 9.38 0.22 9.38 0.22 9.38 0.22 10.78 0.33

Acworth

M&O Debt

7.50

-

7.45

-

7.37

-

7.87

-

7.68

-

7.60

-

7.60

-

7.60

-

7.60

-

7.60

-

Additional Millages (a)

Austell

M&O Debt

3.12

-

3.12

-

3.12

-

3.12

-

3.12

-

3.12

-

3.12

-

3.12

-

3.12

-

3.12

-

Kennesaw

M&O Debt

6.75

-

6.75

-

6.75

-

6.75 1.50

6.75 1.50

8.00 1.50

8.00 1.50

8.00 1.50

8.00 1.50

8.00 1.50

Powder Springs

M&O Debt

7.00

-

7.00

-

8.50

-

8.50

-

8.50

-

8.50

-

8.50

-

8.50

-

8.50

-

8.50

-

Smyrna

M&O Debt

9.85

-

9.70

-

9.65

-

9.57

-

9.17

-

8.99

-

8.99

-

8.99

-

8.99

-

8.99

-

State Tax 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25

(a) Taxpayers residing in cities are responsible for School District, County and State taxes.

Source: Cobb County Government

106

COBB COUNTY SCHOOL DISTRICT PRINCIPAL PROPERTY TAXPAYERS DECEMBER 31, 2011 AND NINE YEARS AGO (a)
Principal Property Taxpayers - 2011

6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00%

Bellsouth Telecommunications Interstate North Office Park LP Walton Communities Wells REIT II Wildwood Properties Lockheed Martin Corp Cobb EMC SP4 Properties Ohio Teacher Retirement Fund Home Depot Georgia Power

Taxpayer Georgia Power Home Depot Ohio Teacher Retirement Fund SP4 Properties Cobb EMC Lockheed Martin Corp Wells REIT II Wildwood Properties Walton Communities Interstate North Office Park LP Bellsouth Telecommunications Wildwood Properties Post Properties ALMI Land Development State of California Public Employees Crow Properties
TOTAL

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

December 31, 2011

Percent

of Total

Taxes

Taxes

Rank Levied

Levied

1 $ 8,149,615 2.018%

2

2,790,707 0.691%

3

2,700,546 0.669%

4

1,985,347 0.492%

5

1,984,065 0.491%

6

1,743,466 0.432%

7

1,040,970 0.258%

8

1,010,001 0.250%

9

985,603 0.244%

10

963,928 0.239%

-

-

-

-

-

-

-

-

-

-

$ 23,354,248 5.784%

December 31, 2002

Percent

of Total

Taxes

Taxes

Rank Levied

Levied

6 $ 1,575,000 0.443%

3

2,364,000 0.665%

-

-

-

-

7

1,437,000 0.404%

5

1,635,000 0.460%

-

-

-

-

-

-

4

2,171,000 0.611%

1

4,053,000 1.140%

2

2,633,000 0.741%

8

1,252,000 0.352%

9

1,011,000 0.284%

10

947,000 0.266%

$ 19,078,000 5.366%

Note: School millage rate is 66.67% of total county rate. Taxes levied are multiplied by 66.67% to arrive at amount of school taxes. (a) Information is available only by calendar year; therefore, data reported is for December 31, 2011 and nine years earlier, December 31, 2002.
Source: Cobb County Tax Commissioner
107

COBB COUNTY SCHOOL DISTRICT LEGAL DEBT MARGIN INFORMATION LAST TEN FISCAL YEARS (amounts expressed in thousands)

Debt Limit Total debt applicable to limit

2003 $ 1,908,106

$

156,382

2004 $ 1,967,936
122,907

Fiscal Year

2005

2006

$ 2,060,986 $ 2,209,521

84,062

42,103

2007 $ 2,393,278

$

-

Legal Debt Margin
Total debt applicable as a percentage of debt limit

$ 1,751,724 $ 1,845,029 $ 1,976,924 $ 2,167,418 $ 2,393,278

8.20%

6.25%

4.08%

1.91%

-

Debt Limit Total debt applicable to limit

2008 $ 2,418,538

$

-

2009 $ 2,528,743

$

-

Fiscal Year 2010
$ 2,477,428

$

-

2011 $ 2,264,959

$

-

2012 $ 2,136,385

$

-

Legal Debt Margin

$ 2,418,538 $ 2,528,743 $ 2,477,428 $ 2,264,959 $ 2,136,385

Total debt applicable

as a percentage of

debt limit

-

-

-

-

-

Source: District Records

108

COBB COUNTY SCHOOL DISTRICT LEGAL DEBT MARGIN INFORMATION FISCAL YEAR 2012
Legal Debt Information - Fiscal Year 2012
$0

$2,136,385,100
Total Amount of Debt Applicable to Debt Limit Legal Debt Margin

Net Assessed Valuation, Cobb County School District, January 1, 2011
Debt Limit - 10% of Assessed Value Amount of Debt Applicable to Debt Limit:
Total Bonded Debt
Total Amount of Debt Applicable to Debt Limit Legal Debt Margin
Source: District Records
109

$

21,363,851,000

$

2,136,385,100

$

-

$

-

$

2,136,385,100

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

Debt Per Capita
$350 $300 $250 $200 $150 $100 $50
$2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

(amounts expressed in thousands, except per capita)

Fiscal Year
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

General Obligation
Bonds
$ 166,580 $ 128,870 $ 87,440 $ 44,780
-

Capital Leases

$ 10,857

$ 12,377

$

8,140

$

4,239

$

9,186

$

7,376

-

-

-

-

Total Primary Government
Debt

$ 177,437

$ 141,247

$ 95,580

$ 49,019

$

9,186

$

7,376

-

-

-

-

Annual Personal Income

$

23,589,661

$

24,751,647

$

26,371,168

$

28,060,168

$

29,527,141

$

31,260,457

$

30,899,585

$

30,271,983

N/A

N/A

Debt as a Percentage of Personal
Income
0.75% 0.57% 0.36% 0.17% 0.03% 0.02%
-

Note: Details regarding the District's outstanding debt can be found in the notes to the basic financial statements. Population of 642,143 provided by the Atlanta Regional Commission and excludes the City of Marietta. See page 111 for previous years' population.
N/A = Data not currently available from source

Source: District Records Annual Personal Income: US Department of Commerce Bureau of Economic Analysis

Total Debt Per Capita
$ 310 $ 246 $ 163 $ 82 $ 15 $ 12
-

110

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

0.35%

Ratio of Net Bonded Debt to Estimated Actual Value

0.30%

0.25%

0.20%

0.15%

0.10%

0.05%

0.00% 2003 2004 2005 2006 2007(a) 2008 2009 2010 2011 2012

Fiscal Year
2003 2004 2005 2006 2007(a) 2008 2009 2010 2011 2012

Population
572,358 $ 574,968 $ 586,245 $ 596,736 $ 606,706 $ 615,377 $ 617,750 $ 618,206 $ 633,084 $ 642,143 $

Estimated Actual Value
47,702,651,000 $ 49,198,403,000 $ 51,524,657,000 $ 55,238,019,000 $ 59,831,937,000 60,463,438,000 63,218,563,000 61,935,688,000 56,623,969,000 53,409,628,000

Gross Bonded Debt

Restricted for Bonded
Debt

166,580,000 $ 128,870,000 $ 87,440,000 $ 44,780,000 $
- $ - $ - $ - $ -

10,198,000 $ 5,963,000 $ 3,220,000 $ 2,538,000 $ 2,599,000 1,826,000 1,523,000 1,356,000 -

Net Bonded
Debt

Ratio of Net Net Bonded Debt Bonded
to Est. Debt Per Actual Value Capita

156,382,000 122,907,000
84,220,000 42,242,000
-

0.33% $ 273

0.25% $ 214

0.16% $ 144

0.08% $ 71

-

-

-

-

-

-

-

-

-

-

-

-

(a) All general obligation bonds were retired in fiscal year 2007.

Source: District Records Population provided by non-financial District source and excludes the City of Marietta

111

COBB COUNTY SCHOOL DISTRICT COMPUTATION OF DIRECT AND OVERLAPPING GENERAL OBLIGATION DEBT JUNE 30, 2012
Direct and Overlapping Debt Per Capita
$0

$58
Direct: Cobb County Schools Indirect: Cobb County Government

Direct General Obligation Debt: Gross Bonded Debt

$

-

Overlapping General Obligation Debt: Cobb County Government (92% of $40,370,000)
Total Direct and Overlapping General Obligation Debt

$
$ 37,140,400 $
$

Debt Per Capita:*

Direct General Obligation Debt

$

Overlapping General Obligation Debt

Total

$

-
37,140,400 37,140,400
58 58

*Population of 642,143 provided by non financial District source and excludes the City of Marietta. Note: The overlap percentage is determined by the percentage of Fire District to Debt Service Fund of Cobb County Government.

112

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

Cobb County Population Growth

725,000

700,000

675,000

650,000

625,000

600,000

575,000

550,000

525,000

500,000

475,000

450,000

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

Personal

Fiscal

Income

Year

Population (In Thousands)

2002

628,800 $ 23,009,999

2003

630,600 $ 23,589,661

2004

632,900 $ 24,751,647

2005

643,700 $ 26,371,168

2006

654,900 $ 28,060,168

2007

664,700 $ 29,527,141

2008

674,200 $ 31,260,457

2009

676,800 $ 30,899,585

2010

677,300 $ 30,271,983

2011

699,500

N/A

Population Includes City of Marietta

Per Capita Personal Income
$ 36,594 $ 37,408 $ 39,108 $ 40,968 $ 42,846 $ 44,422 $ 46,367 $ 45,655 $ 43,888
N/A

Average/ Median Household Income
$ 62,510 $ 62,511 $ 61,087 $ 62,423 $ 61,682 $ 64,817 $ 70,472 $ 63,514 $ 59,896 $ 57,906

Median Age
33.4 33.4 34.4 34.9 35.6 35.9 36.2 34.8 35.4 35.6

Student Enrollment
96,489 97,294 101,141 103,285 105,482 106,572 106,056 105,742 106,836 106,502

Unemployment
Rate
5.0% 4.7% 4.5% 4.8% 4.1% 3.8% 5.6% 8.8% 9.7% 8.9%

Sources: Population - Atlanta Regional Commission Personal Income - US Department of Commerce Bureau of Economic Analysis Unemployment Rate - Georgia Department of Labor Average/Median Household Income - 2000-2005 Average Income-Atlanta Regional Commission; 2006-2010 Median Income-US Census Bureau (Census Bureau reports only Median Income) Median Age - US Census Bureau

113

COBB COUNTY SCHOOL DISTRICT PRINCIPAL EMPLOYERS CURRENT YEAR AND NINE YEARS AGO (a)
Principal Employers - 2011

70,000 60,000 50,000 40,000 30,000 20,000 10,000
-

Six Flags Over Georgia Walmart Kroger Company Publix Super Markets Kennesaw State University Cobb County Government Lockheed Martin Corp Home Depot Wellstar Health System Cobb County Schools

Employer Cobb County Schools Wellstar Health System Home Depot Lockheed Martin Corp Cobb County Government Kennesaw State University Publix Super Markets Kroger Company Walmart Six Flags Over Georgia Worldspan IBM Sprint PCS
Total

Rank 1 2 3 4 5 6 7 8 9 10

2011
Employees 14,076 12,492 11,784 8,100 4,964 4,758 3,097 2,618 2,338 2,031 -

Percentage of Total County
Employment 4.16% 3.69% 3.48% 2.39% 1.47% 1.41% 0.92% 0.77% 0.69% 0.60% -

Rank 1 2 4 3 5
6
8 7 9 10

2002
Employees 13,798 7,800 4,651 7,000 4,613 3,416 2,600 3,200 2,600 2,296

Percentage of Total County
Employment 3.95% 2.23% 1.33% 2.00% 1.32% 0.98% 0.74% 0.92% 0.74% 0.66%

66,258

19.58%

51,974

14.87%

(a) Information is available only by calendar year; therefore, data reported is for December 31, 2011 and nine years earlier, December 31, 2002.
Source: District Records Office of Economic Development Cobb Chamber of Commerce Georgia Department of Labor

114

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

Ratio of Pupils to Professional Personnel
14.0
13.0
12.0
11.0
10.0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Fiscal Year
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Other

Professional Operating

Service

Personnel (a) Personnel (b) Personnel (c)

8,405 8,431 8,024 8,508 9,313 9,101 9,213 9,272 8,378 8,290

2,721 2,711 2,742 2,961 3,138 3,379 3,391 3,046 2,841 2,970

2,684 2,115 2,286 2,335 2,478 2,972 3,049 2,994 2,857 2,847

Total Personnel
13,810 13,257 13,052 13,804 14,929 15,452 15,653 15,312 14,076 14,107

Average Daily
Enrollment
97,009 101,584 103,061 104,901 107,082 106,734 106,256 106,835 106,868 106,944

Ratio of Pupils to Professional Personnel
11.5 :1 12.0 12.8 12.3 11.5 11.7 11.5 11.5 12.8 12.9

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

Source: District Records 115

COBB COUNTY SCHOOL DISTRICT OPERATING STATISTICS LAST TEN FISCAL YEARS

Cost Per Pupil Enrolled

$10,500

$10,000

$9,500

$9,000

$8,500

$8,000

$7,500

$7,000 2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

Average

Cost Percentage

Fiscal

Daily

Per Pupil

of

Professional

Year

Expenses

Enrollment Enrolled Change

Personnel

2003 $ 882,817,000 97,009

$ 9,100

N/A

8,405

2004 $ 882,460,000 101,584 $ 8,687

-4.54%

8,431

2005 $ 902,803,000 103,061 $ 8,760

0.84%

8,024

2006 $ 971,091,000 104,901 $ 9,257

5.68%

8,508

2007 $ 1,032,486,000 107,082 $ 9,642

4.16%

9,313

2008 $ 1,102,462,000 106,734 $ 10,329

7.13%

9,101

2009 $ 1,107,315,000 106,256 $ 10,421

0.89%

9,213

2010 $ 1,088,975,000 106,835 $ 10,193

-2.19%

9,272

2011 $ 1,050,373,000 106,868 $ 9,829

-3.57%

8,378

2012 $ 1,074,140,000 106,944 $ 10,044

2.19%

8,290

Ratio of Pupils to Professional Personnel
11.5 to 1 12.0 12.8 12.3 11.5 11.7 11.5 11.5 12.8 12.9

Note: Professional personnel consists of all certified personnel including teachers, librarians, counselors, supervisors, consultants, coordinators, principals, assistant principals and other leadership personnel. Source: District Records
116

COBB COUNTY SCHOOL DISTRICT GENERAL FUND EXPENDITURES BY FUNCTION LAST TEN FISCAL YEARS

amounts in thousands $950,000 $900,000 $850,000 $800,000 $750,000 $700,000 $650,000 $600,000 $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000
$50,000 $0 2003

2004

2005

2006

2007

2008

2009

2010

2011

Other Capital Outlay Business Serv. School & Admin. Pupil Services Instruction
2012

(amounts expressed in thousands)

School &

Fiscal

Pupil Admin.

Year Instruction Services Services

Business Services

Capital Outlay Other

Total

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

$ 528,643 537,955 538,858 568,611 650,506 711,160 703,297 671,102 635,497 641,662

$ 12,246 12,975 12,698 15,414 16,894 18,716 19,566 18,513 16,755 17,330

$ 60,008 69,132 70,601 74,866 80,690 83,620 85,445 74,888 72,761 78,172

$ 74,825 74,891 78,343 86,146 92,320 100,139 101,253 97,049 93,103 93,237

$ 13,859 20,860 5,217 5,581 9,232 15,970 14,977 1,484 3,522 9,214

$ 4,271 4,039 4,340 4,063 5,536 2,085 7,676 -

$ 693,852 719,852 710,057 754,681 855,178 931,690 932,214 863,036 821,638 839,615

Instruction includes expenditures for Instruction and Instructional Services. Business Services includes expenditures for Student Transportation and Maintenance & Operations. Other includes expenditures for Debt Service and Other Expenditures.

Source: District Records

117

COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS

School Name Acworth Intermediate (2001)
Square Feet Capacity Enrollment Addison (1989) Square Feet Capacity Enrollment Argyle (1961) Square Feet Capacity Enrollment Austell Primary (2005) Square Feet Capacity Enrollment Austell Intermediate (2001) Square Feet Capacity Enrollment Baker (1988) Square Feet Capacity Enrollment Bells Ferry (1963) Square Feet Capacity Enrollment Belmont Hills (1952) Square Feet Capacity Enrollment Big Shanty (1968) Square Feet Capacity Enrollment Birney (1973) Square Feet Capacity Enrollment Blackwell (1998) Square Feet Capacity Enrollment Brown (1955) Square Feet Capacity Enrollment Brumby (1966) Square Feet Capacity Enrollment Bryant (1991) Square Feet Capacity Enrollment Bullard (2003) Square Feet Capacity Enrollment Chalker (1997) Square Feet Capacity Enrollment

2003
131,924 962
1,016
72,192 637 577
61,503 562 589
-
123,000 962 778
106,668 962
1,111
54,862 462 432
67,106 562 399
83,417 837 806
106,180 912 770
111,299 837 777
49,045 412 283
99,181 912 892
114,090 962
1,002
-
124,148 962
1,133

2004
131,924 962
1,065
72,192 637 572
61,503 562 625
-
123,000 962 841
106,668 962 769
54,862 462 471
67,106 562 396
83,417 837 784
106,180 912 805
111,299 837 753
49,045 412 256
99,181 912 825
114,090 962
1,126
136,261 962
1,013
124,148 962 889

2005
131,924 962
1,139
72,192 637 564
61,503 562 738
-
123,000 962 847
106,668 962 768
54,862 462 520
67,106 562 371
83,417 837 740
106,180 912 864
111,299 837 727
49,045 412 256
99,181 912 850
114,090 962
1,197
136,261 962
1,129
124,148 962 931

2006
131,924 962 746
81,334 637 559
61,503 562 757
85,236 512 332
123,000 962 599
106,668 962 738
54,862 462 599
67,106 562 581
83,417 837 742
106,180 912 876
111,299 837 736
49,045 412 257
99,181 912 914
114,090 962 952
136,261 962
1,197
124,148 962 975

2007
131,924 962 757
81,334 637 563
61,503 562 763
85,236 512 350
123,000 962 633
106,668 962 811
54,862 462 618
67,106 562 663
83,417 837 783
106,180 912 923
111,299 837 766
49,045 412 256
99,181 912 865
114,090 962 912
136,261 962
1,188
124,148 962 956

2008
131,924 962 808
81,334 637 591
61,503 562 666
85,236 512 324
123,000 962 618
106,668 962 772
54,862 462 621
67,106 562 656
83,417 837 785
106,180 912 863
111,299 837 723
49,045 412 246
99,181 912 802
114,090 962 818
136,261 962
1,234
124,148 962 885

2009
131,924 962 870
81,334 637 583
61,503 562 654
85,236 512 326
123,000 962 598
106,668 962 806
54,862 462 580
67,106 562 612
83,417 837 851
106,180 912 751
111,299 837 710
49,045 412 264
99,181 912 860
114,090 962 797
136,261 962
1,109
124,148 962 838

2010
131,924 962 853
81,334 637 557
61,503 562 662
85,236 512 309
123,000 962 576
106,668 962 819
54,862 462 586
67,106 562 619
83,417 837 859
106,180 912 710
111,299 837 722
49,045 412 292
99,181 912 954
114,090 962 802
136,261 962
1,046
124,148 962 849

2011
131,924 962 830
81,334 637 587
61,503 562 652
85,236 512 320
123,000 962 565
106,668 962 809
54,862 462 604
67,106 562 534
83,417 837 825
106,180 912 750
111,299 837 735
49,045 412 297
99,181 912 963
114,090 962 771
136,261 962 997
124,148 962 816

2012*
131,924 913 821
81,334 662 594
56,238 537 647
85,236 562 314
123,025 962 603
106,694 987 789
83,098 712 590
68,409 562 496
84,461 837 789
105,886 912 755
111,299 837 703
49,045 412 302
99,181 912 952
116,071 962 825
136,261 987 971
124,148 963 743

118

COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS

School Name Cheatham Hill (1997)
Square Feet Capacity Enrollment Clarkdale (1963) Square Feet (a) Capacity (a) Enrollment Clay (1961) Square Feet Capacity Enrollment Compton (1969) Square Feet Capacity Enrollment Davis (1987) Square Feet Capacity Enrollment Dowell (1989) Square Feet Capacity Enrollment Due West (1957) Square Feet Capacity Enrollment East Side (1952) Square Feet Capacity Enrollment East Side Replace (2011) Square Feet Capacity Enrollment Eastvalley (1960) Square Feet Capacity Enrollment Fair Oaks (1957) Square Feet Capacity Enrollment Ford (1991) Square Feet Capacity Enrollment Frey (1996) Square Feet Capacity Enrollment Garrison Mill (1984) Square Feet Capacity Enrollment Green Acres (1996) Square Feet Capacity Enrollment Harmony Leland (1951) Square Feet Capacity Enrollment

2003
122,260 937
1,038
44,412 362 435
51,930 437 444
100,586 912 734
87,763 787 627
106,003 962 827
47,350 437 582
77,918 787 824
-
58,150 562 490
60,283 718 606
91,129 837 802
124,148 962
1,499
85,775 687 590
90,915 687 781
68,564 357 520

2004
122,260 937
1,035
44,412 362 446
51,930 437 480
100,586 912 720
87,763 787 634
106,003 962 897
47,350 437 500
77,918 787 830
-
58,150 562 548
60,283 718 692
91,129 837 951
124,148 962 918
85,775 687 617
90,915 687 874
68,564 357 554

2005
122,260 937
1,013
44,412 362 459
51,930 437 475
100,586 912 692
87,763 787 619
106,003 962 988
47,350 437 461
77,918 787 831
-
58,150 562 565
84,153 812 707
91,129 837 979
124,148 962 921
85,775 687 613
90,915 687 833
68,564 357 568

2006
122,260 937
1,060
44,412 362 480
51,930 437 515
100,586 912 690
87,763 787 608
106,003 962
1,003
47,350 437 478
77,918 787 870
-
58,150 562 614
84,153 812 747
91,129 837
1,021
124,148 962 938
85,775 687 618
90,915 687 695
85,764 512 583

2007
122,260 937
1,112
44,412 362 455
51,930 437 491
100,586 912 698
87,763 787 632
106,003 962
1,054
47,350 437 435
77,918 787 982
-
58,150 562 569
98,789 862 894
91,129 837
1,061
124,148 962 897
85,775 687 645
90,915 687 673
85,764 512 558

2008
122,260 937
1,105
44,412 362 464
51,930 437 528
100,586 912 541
87,763 787 581
106,003 962
1,087
71,112 612 459
77,918 787 961
-
58,150 562 550
98,789 862 825
91,129 837
1,027
124,148 962 830
85,775 687 705
90,915 687 653
85,764 512 475

2009
122,260 937
1,090
44,412 362 440
51,930 437 536
100,586 912 516
87,763 787 558
106,003 962
1,061
71,112 612 497
77,918 787 990
-
58,150 562 556
98,789 862 806
91,129 837 884
124,148 962 621
85,775 687 699
90,915 687 658
85,764 512 517

2010
122,260 937
1,084
407
51,930 437 535
100,586 912 485
87,763 787 557
106,003 962 996
71,112 612 538
77,918 787
1,031
-
58,150 562 619
98,789 862 839
91,129 837 863
124,148 962 670
85,775 687 724
90,915 687 712
85,764 512 544

2011

2012*

122,260 937
1,115

137,108 1,063 1,123

-

-

-

-

394

391

51,930 437 543

55,412 437 510

100,586 912 485

99,427 937 453

87,763 787 540

86,131 788 543

106,003 962
1,019

106,003 963 980

71,112 612 536

70,367 587 553

77,918

-

787

-

1,059

-

-

149,764

-

1,087

-

1,119

58,150 562 622

60,029 562 638

98,789 862 824

97,993 863 837

91,129 837 831

91,129 862 753

124,148 962 677

125,717 963 693

85,775 687 706

85,775 688 723

90,915 687 738

90,915 688 785

85,764 512 582

65,127 512 591

Continued---

119

COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS

School Name Hayes (1993)
Square Feet Capacity Enrollment Hollydale (1968) Square Feet Capacity Enrollment Keheley (1986) Square Feet Capacity Enrollment Kemp (2002) Square Feet Capacity Enrollment Kennesaw (1991) Square Feet Capacity Enrollment Kincaid (1972) Square Feet Capacity Enrollment King Springs (1956) Square Feet Capacity Enrollment Labelle (1955) Square Feet Capacity Enrollment Lewis (1986) Square Feet Capacity Enrollment Mableton (1950) Square Feet Capacity Enrollment McCall Primary (2005) Square Feet Capacity Enrollment Milford (1954) Square Feet Capacity Enrollment Mount Bethel (1978) Square Feet Capacity Enrollment Mountain View (1986) Square Feet Capacity Enrollment Murdock (1975) Square Feet Capacity Enrollment Nicholson (1990) Square Feet Capacity Enrollment

2003
117,579 962
1,192
89,995 812 835
68,030 587 562
123,000 962 833
113,828 962
1,262
81,752 762 586
58,785 562 610
58,505 537 464
106,218 946
1,010
47,426 412 481
-
64,168 612 578
105,016 912 986
102,725 862 768
85,542 687 805
75,800 637 618

2004
117,579 962 952
89,995 812 847
68,030 587 559
123,000 962 891
113,828 962 773
81,752 762 603
58,785 562 594
58,505 537 504
106,218 946
1,006
47,426 412 466
-
64,168 612 578
105,016 912 983
102,725 862 793
85,542 687 812
75,800 637 580

2005
117,579 962 995
89,995 812 854
68,030 587 547
123,000 962 868
113,828 962 868
81,752 762 606
58,785 562 589
58,505 537 497
106,218 946
1,074
47,426 412 483
-
64,168 612 601
105,016 912 946
102,725 862 785
85,542 687 816
75,800 637 573

2006
117,579 962
1,139
89,995 812 875
68,030 587 542
123,000 962 904
113,828 962 960
81,752 762 615
58,785 562 606
58,505 537 481
115,363 962
1,101
47,426 412 461
88,217 512 409
64,168 612 576
105,016 912 933
102,725 862 770
85,442 687 845
75,800 637 563

2007
117,579 962
1,091
89,995 812 859
68,030 587 516
123,000 962 896
113,828 962 893
81,752 762 605
58,785 562 622
80,655 687 475
115,363 962
1,153
47,426 412 429
88,217 512 486
69,776 612 647
105,016 912 962
102,725 862 794
123,233 962 836
75,800 637 541

2008
117,579 962
1,080
89,995 812 841
68,030 587 513
123,000 962 913
113,828 962 952
81,752 762 614
58,785 562 583
80,655 687 475
115,363 962
1,124
47,426 412 407
88,217 512 469
69,776 612 653
105,016 912 960
102,725 862 819
123,233 962 846
75,800 637 511

2009
117,579 962
1,061
89,995 812 781
68,030 587 488
123,000 962 902
113,828 962 906
81,752 762 660
58,785 562 587
80,655 687 484
115,363 962 910
47,426 412 417
88,217 512 451
69,776 612 624
105,016 912
1,002
102,725 862 829
123,233 962 875
75,800 637 521

2010
117,579 962
1,116
89,995 812 764
68,030 587 465
123,000 962 926
113,828 962 915
81,752 762 675
58,785 562 617
80,655 687 486
115,363 962 885
47,426 412 399
88,217 512 459
69,776 612 650
105,016 912
1,029
102,725 862 833
123,233 962 861
75,800 637 527

2011
117,579 962
1,078
89,995 812 727
68,030 587 468
123,000 962 931
113,828 962 848
81,752 762 687
58,785 562 676
80,655 687 449
115,363 962 885
47,426 412 437
88,217 512 506
69,776 612 635
105,016 912 996
102,725 862 848
123,233 962 823
75,800 637 497

2012*
119,189 962
1,020
89,012 862 735
70,537 588 470
123,000 962 929
116,400 962 824
83,969 762 670
59,658 587 692
82,912 688 456
115,363 962 800
47,426 412 457
88,158 562 451
73,352 612 658
110,096 937
1,006
102,725 887 853
123,233 962 825
75,800 637 513

120

COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS

School Name

2003

Nickajack (1998)

Square Feet

114,350

Capacity

837

Enrollment

668

Norton Park (1961)

Square Feet

66,603

Capacity

612

Enrollment

688

Pickett's Mill (2008)

Square Feet

-

Capacity

-

Enrollment

-

Pitner (2003)

Square Feet

-

Capacity

-

Enrollment

-

Powder Springs (1988)

Square Feet

101,870

Capacity

887

Enrollment

947

Powers Ferry (1951)

Square Feet

56,104

Capacity

462

Enrollment

470

Riverside Primary (2005)

Square Feet

-

Capacity

-

Enrollment

-

Riverside Intermediate (2001)

Square Feet

123,000

Capacity

962

Enrollment

874

Rocky Mount (1977)

Square Feet

78,720

Capacity

587

Enrollment

604

Russell (1961)

Square Feet

63,212

Capacity

612

Enrollment

647

Sanders (1997)

Square Feet

116,302

Capacity

862

Enrollment

881

Sedalia Park (1956)

Square Feet

84,051

Capacity

787

Enrollment

738

Shallowford Falls (1990)

Square Feet

73,600

Capacity

612

Enrollment

704

Sky View (1957)

Square Feet

50,270

Capacity

462

Enrollment

411

Sope Creek (1978)

Square Feet

106,348

Capacity

962

Enrollment

1,152

Still (1978)

Square Feet

82,687

Capacity

612

Enrollment

602

2004
114,350 837 779
66,603 612 795
-
135,800 962 960
101,870 887 998
56,104 462 490
-
123,000 962 889
78,720 587 600
63,212 612 653
116,302 862 926
84,051 787 756
73,600 612 676
50,270 462 414
106,348 962
1,135
82,687 612 594

2005
114,350 837 810
66,603 612 763
-
135,800 962
1,038
101,870 887 972
56,104 462 456
-
123,000 962 791
78,720 587 593
63,212 612 662
116,302 862 941
84,051 787 771
73,600 612 656
50,270 462 430
106,348 962
1,104
82,687 612 579

2006
114,350 837 828
66,603 612 806
-
135,800 962
1,083
101,870 887 922
56,104 462 452
85,236 512 434
123,000 962 791
78,720 587 608
63,212 612 674
116,302 862 867
84,051 787 791
73,600 612 641
50,270 462 468
106,348 962
1,070
82,687 612 625

2007
114,350 837 785
87,301 787 750
-
135,800 962
1,049
101,870 887 936
56,104 462 470
85,236 512 545
123,000 962 838
78,720 587 597
101,862 962 651
116,302 862 889
101,125 887 752
112,947 962 654
50,270 462 448
106,348 962
1,093
121,289 962 670

2008
114,350 837 670
87,301 787 678
-
135,800 962
1,054
101,870 887 891
56,104 462 472
85,236 512 516
123,000 962 819
78,720 587 591
101,862 962 655
116,302 862 894
101,125 887 746
112,947 962 663
50,270 462 387
106,348 962
1,078
121,289 962 687

2009
114,350 837 725
87,301 787 764
136,261 962 724
135,800 962 971
101,870 887 892
56,104 462 477
85,236 512 440
123,000 962 777
78,720 587 606
101,862 962 687
116,302 862 936
101,125 887 799
112,947 962 695
50,270 462 409
106,348 962
1,064
121,289 962 750

2010
114,350 837 815
87,301 787 674
136,261 962 742
135,800 962 977
101,870 887 866
56,104 462 483
85,236 512 465
123,000 962 841
78,720 587 592
101,862 962 725
116,302 862 926
101,125 887 782
112,947 962 710
50,270 462 399
106,348 962
1,142
121,289 962 775

2011

2012*

114,350 837 904

122,342 937 960

87,301 787 730

87,935 837 708

136,261 962 717

139,090 963 707

135,800 962 945

136,261 962 942

101,870 887 811

101,870 888 802

56,104 462 490

59,190 462 468

85,236 512 491

85,236 562 561

123,000 962 871

123,000 962 925

78,720 587 629

71,408 612 613

101,862 962 703

103,369 962 693

116,302 862 872

116,302 862 903

101,125 887 804

99,735 888 816

112,947 962 690

112,620 962 674

50,270 462 373

50,270 462 400

106,348 962
1,159

133,344 1,162 1,142

121,289 962 776

116,074 963 764

Continued---

121

COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS

School Name Teasley (1961)
Square Feet Capacity Enrollment Timber Ridge (1990) Square Feet Capacity Enrollment Tritt (1979) Square Feet Capacity Enrollment Varner (1990) Square Feet Capacity Enrollment Vaughan (1996) Square Feet Capacity Enrollment Awtrey (1965) Square Feet Capacity Enrollment Barber (2005) Square Feet Capacity Enrollment Campbell (1951) Square Feet Capacity Enrollment Cooper (2001) Square Feet Capacity Enrollment Daniell (1966) Square Feet Capacity Enrollment Dickerson (1981) Square Feet Capacity Enrollment Dodgen (1975) Square Feet Capacity Enrollment Durham (1998) Square Feet Capacity Enrollment East Cobb (1963) Square Feet Capacity Enrollment Floyd (1964) Square Feet Capacity Enrollment Garrett (1972) Square Feet Capacity Enrollment

2003
56,810 462 488
73,450 587 563
109,912 937 864
109,827 962 746
122,260 937
1,068
143,704 1,012 1,339
-
176,241 1,337 1,105
175,345 1,162 962
141,419 1,087 935
157,333 1,097 1,504
111,484 741 798
173,487 1,162 1,542
165,237 1,162 1,196
120,788 812 920
122,329 812 810

2004
56,810 462 560
73,450 587 519
109,912 937 853
109,827 962 793
122,260 937
1,092
143,704 1,012 1,473
-
176,241 1,337 1,185
175,345 1,162 1,034
141,419 1,087 923
157,333 1,097 1,483
111,484 741 843
173,487 1,162 1,662
165,237 1,162 1,273
120,788 812 957
122,329 812 882

2005
56,810 462 585
73,450 587 513
109,912 937 849
109,827 962 834
122,260 937
1,095
143,704 1,012 1,594
-
176,241 1,337 1,251
175,345 1,162 1,069
141,419 1,087 954
157,333 1,097 1,409
111,484 741 841
173,487 1,162 1,676
165,237 1,162 1,289
120,560 812 929
122,329 812 847

2006
56,810 462 561
73,450 587 507
109,912 937 863
109,827 962 845
122,260 937
1,138
143,704 1,012 843
175,345 1,162 866
176,241 1,137 1,187
175,345 1,162 1,034
141,419 1,087 930
165,953 1,157 1,397
182,985 1,162 861
173,487 1,162 1,708
165,237 1,162 1,257
166,551 1,162 998
122,329 812 923

2007
56,810 462 538
73,450 587 526
109,912 937 892
109,827 962 790
122,260 937
1,128
143,704 1,012 776
175,345 1,162 922
205,911 1,337 1,017
175,345 1,162 956
165,011 1,162 949
165,953 1,187 1,265
182,985 1,162 1,083
173,487 1,162 1,141
181,573 1,212 1,148
166,551 1,162 894
122,329 812 894

2008
56,810 462 487
73,450 587 510
109,912 937 892
109,827 962 824
122,260 937
1,076
143,704 1,012 839
175,345 1,162 942
205,911 1,337 961
175,345 1,162 926
165,011 1,162 931
165,953 1,187 1,195
182,985 1,162 1,151
173,487 1,162 1,116
181,573 1,212 1,130
166,551 1,162 882
122,329 812 909

2009
56,810 462 513
73,450 587 539
109,912 937 899
109,827 962 829
122,260 937 859
143,704 1,012 862
175,345 1,162 927
205,911 1,337 1,024
175,345 1,162 872
165,011 1,162 943
165,953 1,187 1,122
182,985 1,162 1,122
173,487 1,162 1,129
181,573 1,212 1,183
166,551 1,162 812
122,329 812 898

2010
56,810 462 578
73,450 587 590
109,912 937 936
109,827 962 833
122,260 937 817
143,704 1,012 920
175,345 1,162 914
205,911 1,337 1,106
175,345 1,162 827
165,011 1,162 981
165,953 1,187 1,119
182,985 1,162 1,104
173,487 1,162 1,111
181,573 1,212 1,241
166,551 1,162 819
122,329 812 862

2011
56,810 462 670
73,450 587 589
109,912 937 909
109,827 962 791
122,260 937 742
143,704 1,012 863
175,345 1,162 954
205,911 1,337 1,146
175,345 1,162 832
165,011 1,162 1,017
165,953 1,187 1,142
182,985 1,162 1,132
173,487 1,162 1,103
181,573 1,212 1,294
166,551 1,162 821
122,329 812 901

2012*
55,944 487 689
73,450 612 650
109,769 937 908
109,827 962 774
122,260 937 721
149,860 1,037 881
178,465 1,162 967
207,172 1,338 1,201
170,905 1,162 851
163,526 1,163 972
166,048 1,187 1,212
183,798 1,212 1,190
173,487 1,162 1,101
186,961 1,362 1,281
166,551 1,112 870
122,329 812 853

122

COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS

School Name

2003

Griffin (1972)

Square Feet

122,698

Capacity

747

Enrollment

895

Hightower Trail (1993)

Square Feet

141,264

Capacity

987

Enrollment

979

Lindley 6th Grade Academy (1962)

Square Feet

-

Capacity

-

Enrollment

-

Lindley (2001)

Square Feet

179,170

Capacity

1,162

Enrollment

1,328

Lost Mountain (1992)

Square Feet

137,027

Capacity

987

Enrollment

1,400

Lovinggood (2006)

Square Feet

-

Capacity

-

Enrollment

-

Mabry (1978)

Square Feet

113,212

Capacity

868

Enrollment

791

McCleskey (1983)

Square Feet

113,525

Capacity

837

Enrollment

909

McClure (2006)

Square Feet

-

Capacity

-

Enrollment

-

Palmer (2001)

Square Feet

175,345

Capacity

1,162

Enrollment

1,191

Pine Mountain (1979)

Square Feet

119,076

Capacity

792

Enrollment

1,145

Simpson (1988)

Square Feet

110,000

Capacity

837

Enrollment

844

Smitha (1993)

Square Feet

141,596

Capacity

987

Enrollment

1,213

Tapp (1975)

Square Feet

157,435

Capacity

1,137

Enrollment

995

Allatoona (2008)

Square Feet

-

Capacity

-

Enrollment

-

Campbell (1963)

Square Feet

317,515

Capacity

2,262

Enrollment

1,888

2004
122,698 747
1,009
141,264 987
1,000
-
179,170 1,162 1,358
137,027 987
1,498
-
113,212 868 893
113,525 837 826
-
175,345 1,162 1,285
119,076 792
1,213
110,000 837 917
141,596 987
1,285
157,435 1,137 1,086
-
317,515 2,262 1,976

2005
122,698 747 993
141,264 987 946
-
179,170 1,162 1,407
137,027 987
1,513
-
113,212 868 882
113,525 837 858
-
175,345 1,162 1,264
119,076 792
1,212
110,000 837 885
141,596 987
1,292
157,435 1,137 1,067
-
317,515 2,262 2,093

2006
186,947 1,162 1,095
141,264 987 966
-
179,170 1,162 1,354
137,027 987
1,576
-
158,434 1,137 848
113,525 837 822
-
175,345 1,162 1,173
119,076 792
1,261
110,000 837 844
141,596 987
1,306
157,435 1,137 1,074
-
317,515 2,262 2,128

2007
186,947 1,162 1,064
149,038 1,012 1,020
-
179,170 1,162 1,381
164,107 1,162 1,167
178,465 1,162 1,262
158,434 1,137 849
113,525 837 815
191,209 1,162 1,029
175,345 1,162 1,134
131,459 887 752
110,000 837 813
167,815 1,137 1,013
157,435 1,137 897
-
317,515 2,262 2,145

2008
186,947 1,162 993
149,038 1,012 986
-
179,170 1,162 1,252
164,107 1,162 1,107
178,465 1,162 1,238
158,434 1,137 941
113,525 837 752
191,209 1,162 1,155
175,345 1,162 1,101
131,459 887 743
110,000 837 871
167,815 1,137 965
157,435 1,137 891
-
370,042 2,637 2,087

2009
186,947 1,162 922
149,038 1,012 975
114,635 787 440
179,170 1,162 827
164,107 1,162 1,074
178,465 1,162 1,269
158,434 1,137 959
113,525 837 769
191,209 1,162 1,157
175,345 1,162 1,083
131,459 887 728
110,000 837 892
167,815 1,137 862
157,435 1,137 819
328,370 1,912 845
370,042 2,637 2,093

2010
186,947 1,162 916
149,038 1,012 964
114,635 787 470
179,170 1,162 832
164,107 1,162 1,131
178,465 1,162 1,185
158,434 1,137 892
113,525 837 765
191,209 1,162 1,165
175,345 1,162 1,069
131,459 887 772
110,000 837 889
167,815 1,137 817
157,435 1,137 737
328,370 1,912 1,341
370,042 2,637 2,144

2011

2012*

186,947 1,162 959

186,947 1,162 1,064

149,038 1,012 963

149,038 1,012 956

114,635 787 493

111,260 788 523

179,170 1,162 916

179,170 1,162 1,041

164,107 1,162 1,105

165,107 1,137 1,016

178,465 1,162 1,182

175,345 1,162 1,214

158,434 1,137 864

160,581 1,162 849

113,525 837 692

113,525 937 668

191,209 1,162 1,167

191,209 1,163 1,138

175,345 1,162 1,042

175,974 1,162 999

131,459 887 738

131,399 887 725

110,000 837 843

110,000 837 862

167,815 1,137 907

169,345 1,137 968

157,435 1,137 661

157,435 1,137 724

328,370 1,912 1,554

325,200 1,912 1,762

370,042 2,637 2,224

367,080 2,637 2,105

Continued---

123

COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS

School Name

2003

2004

2005

Harrison (1991)

Square Feet

235,445

235,445

235,445

Capacity

1,837

1,837

1,837

Enrollment

2,029

2,119

2,285

Hillgrove (2006)

Square Feet

-

-

-

Capacity

-

-

-

Enrollment

-

-

-

Kell (2002)

Square Feet

323,000

323,000

323,000

Capacity

1,912

1,912

1,912

Enrollment

1,035

1,526

1,809

Kennesaw Mountain (2000)

Square Feet

319,000

319,000

319,000

Capacity

1,987

1,987

1,987

Enrollment

2,352

2,671

2,858

Lassiter (1981)

Square Feet

274,704

274,704

274,704

Capacity

2,137

2,137

2,137

Enrollment

2,405

2,221

2,105

McEachern (1930)

Square Feet

416,201

416,201

416,201

Capacity

2,362

2,362

2,362

Enrollment

3,020

3,085

3,304

North Cobb (1957)

Square Feet

252,105

252,105

252,105

Capacity

2,087

2,087

2,087

Enrollment

2,146

2,123

2,164

Oakwood (1944)

Square Feet

93,612

93,612

93,612

Capacity

462

462

462

Enrollment

298

271

235

Osborne (1961)

Square Feet

248,979

248,979

289,269

Capacity

1,494

1,494

1,688

Enrollment

1,636

1,579

1,560

Pebblebrook (1963)

Square Feet

225,782

225,782

266,330

Capacity

1,307

1,307

1,483

Enrollment

1,452

1,532

1,566

Performance Learning Center (Housed at Oakwood)

Enrollment

-

-

-

Pope (1987)

Square Feet

246,405

246,405

246,405

Capacity

1,862

1,862

1,862

Enrollment

1,942

1,907

1,961

South Cobb (1951)

Square Feet

271,378

271,378

271,378

Capacity

1,662

1,662

1,662

Enrollment

1,877

1,944

2,005

Sprayberry (1973)

Square Feet

281,542

281,542

281,542

Capacity

2,112

2,112

2,112

Enrollment

1,866

1,769

1,766

Walton (1975)

Square Feet

276,781

276,781

276,781

Capacity

1,950

1,950

1,950

Enrollment

2,454

2,440

2,533

Wheeler (1964)

Square Feet

270,744

270,744

270,744

Capacity

1,762

1,762

1,762

Enrollment

1,739

1,771

1,807

Barnes Center (1962) (b)

(TLC, Central Alternative and Intensive English Program)

Square Feet

114,635

114,635

114,635

Capacity

787

787

787

Enrollment

135

241

455

2006
235,445 1,837 2,542
-
323,000 1,912 1,883
319,000 1,987 3,032
274,704 2,137 2,096
416,201 2,362 3,384
252,105 2,087 2,336
93,612 462 219
337,114 2,062 1,580
318,655 1,862 1,701
-
246,405 1,862 1,963
271,378 1,662 2,100
281,542 2,112 1,758
276,781 1,950 2,549
270,744 1,762 1,806
114,635 787 230

2007
235,445 1,837 2,601
321,543 1,912 1,142
323,000 1,912 1,882
319,000 1,987 2,938
274,704 2,137 2,026
416,201 2,362 2,652
320,736 2,087 2,531
93,612 462 288
337,114 2,062 1,483
318,655 1,862 1,780
-
246,405 1,862 1,879
271,378 1,662 2,036
281,542 2,112 1,705
308,814 2,362 2,559
318,504 1,837 1,813

2008
235,445 1,837 2,590
321,543 1,912 1,669
323,000 1,912 1,835
319,000 1,987 2,842
274,704 2,137 1,934
414,457 2,362 2,316
320,736 2,087 2,577
93,612 462 286
332,614 2,062 1,589
318,655 1,862 1,864
-
246,365 1,862 1,878
271,378 1,662 2,069
281,542 2,112 1,670
308,814 2,362 2,583
318,504 1,837 1,797

2009
235,445 1,837 2,347
321,543 1,912 1,833
323,000 1,912 1,805
319,000 1,987 2,357
274,704 2,137 1,973
436,728 2,362 2,210
320,736 2,087 2,501
93,612 520 192
332,614 2,062 1,643
318,655 1,862 1,993
58
246,365 1,862 1,806
271,378 1,662 2,009
281,542 2,112 1,655
308,814 2,362 2,574
318,504 1,837 1,877

2010
235,445 1,837 2,169
323,023 1,912 2,011
323,000 1,912 1,753
319,000 1,987 2,147
274,704 2,137 1,932
436,728 2,362 2,166
287,276 1,933 2,460
93,612 462 156
332,614 2,062 1,722
318,655 1,862 1,988
47
246,365 1,862 1,792
271,378 1,718 1,969
281,542 2,153 1,693
308,814 2,362 2,561
318,504 1,837 1,981

114,635 114,635

-

-

787

787

-

-

260

198

-

-

2011
235,445 1,837 2,094
323,023 1,912 2,003
323,000 1,912 1,688
319,000 1,987 1,955
274,704 2,137 1,990
436,728 2,362 2,127
287,276 1,933 2,524
93,612 462 175
332,614 2,062 1,671
318,655 1,862 1,957
76
246,365 1,862 1,773
271,378 1,718 1,957
281,542 2,153 1,754
308,814 2,362 2,649
318,504 1,837 2,020
-

2012*
243,215 1,837 1,973
319,000 1,987 2,020
321,068 1,987 1,606
319,000 1,987 2,034
278,986 2,112 1,971
504,107 2,362 2,098
406,817 2,787 2,566
93,858 462 79
328,000 2,062 1,558
319,768 1,788 1,824
57
260,606 1,912 1,718
395,332 2,612 1,863
297,400 2,062 1,727
307,655 2,312 2,569
318,504 1,837 1,955
-

124

COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS

School Name

2003

Hawthorne (1958) (c)

Square Feet

32,500

Capacity

312

Enrollment

150

HAVEN @ Fitzhugh Lee (1935) (c)

Square Feet

35,684

Capacity

312

Enrollment

-

Kennesaw Charter (d)

Enrollment

-

Mableton Charter (d)

Enrollment

-

Smyrna Charter (d)

Enrollment

-

Devereux Georgia (d)

Enrollment

-

2004
32,500 312 187
35,684 312 -
385
-
-
-

2005
32,500 312 165
35,684 312 -
435
-
-
-

2006
32,500 312 182
35,684 312 -
436
-
-
-

2007
32,500 312 170
35,684 312 -
540
-
-
132

2008
32,500 312 156
35,684 312 -
495
569
414
108

2009
32,500 312 158
35,684 312 -
504
595
438
115

2010
32,500 312 160
35,684 312 -
437
472
580
105

2011

2012*

32,500 312 -

32,500 312 -

35,684 312 141

35,684 312 131

515

614

529

526

744

793

96

62

Concluded.

Note: Year represents the year during which the school was initially opened and utilized for instructional purposes but does not reflect the most recent year of subsequent additions, improvements or renovations, if any, to the facility.
(a) Clarkdale destroyed by flood fall 2009. Students housed at other schools; enrollment recorded as Clarkdale. (b) Barnes Center students reported in their home school. Facility is now Lindley 6th Grade Academy. (c) Hawthorne enrollment is included with HAVEN @ Fitzhugh Lee after 2010. (d) Operated by a non profit, enrollment reported by CCSD; buildings do not belong to CCSD.
* 2012 data reflects the new Five-Year Local Facilities Plan approved by the Board on May 17, 2012. The 2012 - 2016 Local Facilities Plan has been approved by the Georgia Department of Education and validated by a Facilities Survey Team as required by State BOE rules.
Source: District Records

125

COBB COUNTY SCHOOL DISTRICT SCHOOL LUNCH AND BREAKFAST PROGRAM LAST TEN FISCAL YEARS

amounts in thousands
13,000 12,000 11,000 10,000
9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000
0 2003

2004

2005

Meals Served

2006

2007

2008

2009

Lunch

Breakfast

2010

2011

2012

(amounts expressed in thousands)

Lunch Meals Served: Free Reduced Paid Total Daily Average Student Price

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2,743 858
5,916 9,517
53
$1.50-$1.75

3,367 827
5,943 10,137
56
$1.60-$1.85

3,951 845
5,973 10,769
60
$1.60-$1.85

4,432 852
6,208 11,492
64
$1.60-$1.85

4,654 950
6,380 11,984
67
$1.60-$1.85

4,794 931
6,285 12,010
67
$1.60-$1.85

5,072 967
6,068 12,107
67
$1.60-$1.85

5,431 954
5,761 12,146
69
$1.60-$1.85

5,683 783
5,400 11,866
69
$1.60-$1.85

6,109 857
5,431 12,397
70
$1.65-$1.90

Breakfast Meals Served:

Free

1,010

Reduced

198

Paid

314

Total

1,522

Daily Average

8

Student Price

$1.00 - $1.15

1,193 170 317
1,680 10
$1.00

1,482 180 342
2,004 11
$1.00

1,700 194 432
2,326 13
$1.00

1,964 258 536
2,758 15
$1.00

2,118 264 557
2,939 16
$1.00

2,254 261 534
3,049 17
$1.00

2,342 260 486
3,088 17
$1.00

2,455 208 466
3,129 19
$1.00

2,732 237 489
3,458 19
$1.00

Total Meals Served: Free Reduced Paid Total Daily Average
Source: District Records

3,753 1,056 6,230 11,039
61

4,560 997
6,260 11,817
66

5,433 1,025 6,315 12,773
71

6,132 1,046 6,640 13,818
77

6,618 1,208 6,916 14,742
82

6,912 1,195 6,842 14,949
83

7,326 1,228 6,602 15,156
84

7,773 1,214 6,247 15,234
86

8,138 991
5,866 14,995
88

8,841 1,094 5,920 15,855
89

126

COBB COUNTY SCHOOL DISTRICT TEACHERS' SALARY SCHEDULE LAST TWENTY FISCAL YEARS

$90,000

Teachers' Salary Range

$80,000

$70,000

$60,000

$50,000

$40,000

$30,000

$20,000

$10,000

$0 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Minimum

Maximum

Fiscal Year 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Minimum $ 23,461 $ 23,922 $ 25,118 $ 25,921 $ 27,621 $ 28,973 $ 30,406 $ 31,440 $ 32,230 $ 33,455 $ 34,542 $ 34,542 $ 35,233 $ 35,938 $ 37,160 $ 39,140 $ 39,962 $ 38,958 $ 38,958 $ 38,958

Maximum $ 48,348 $ 49,297 $ 52,992 $ 54,687 $ 58,273 $ 61,121 $ 64,140 $ 66,321 $ 67,985 $ 70,568 $ 72,861 $ 72,861 $ 76,206 $ 77,730 $ 80,374 $ 82,435 $ 84,204 $ 82,088 $ 82,088 $ 82,088

Cobb Average (a)

State-wide Average (a)

$

46,775 $

45,848

$

47,191 $

46,437

$

49,854 $

48,247

$

51,239 $

49,836

$

52,977 $

51,466

$

54,286 $

52,823

$

53,320 $

53,155

$

54,168 $

52,830

$

53,770 $

53,002

*Minimum - T-4 Certification, Maximum - Doctorate

(a) Cobb and State-wide averages unavailable prior to 2004 Source: CCSD Salary Schedule for Minimum and Maximum
Governor's Office of Achievement
127

COBB COUNTY SCHOOL DISTRICT GENERAL FUND REVENUES BY SOURCE LAST TEN FISCAL YEARS

amounts in thousands
$975,000

$900,000

$825,000

$750,000

$675,000

$600,000

$525,000

$450,000 $375,000

Other

$300,000

Interest

$225,000 $150,000
$75,000

Intergovernmental Local Taxes

$0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

(amounts expressed in thousands)

Fiscal

Local

Inter-

Year

Taxes

governmental

2003

$ 349,861 $ 352,964

2004

364,523

349,528

2005

377,772

340,185

2006

408,599

381,436

2007

441,716

422,286

2008

460,537

449,098

2009

475,294

404,313

2010

462,518

404,856

2011

427,174

431,352

2012

408,123

391,997

Interest Income $ 3,057
2,659 5,193 9,714 12,150 9,843 4,497 2,475 2,410 1,981

Other $ 957
1,485 770 900 799
1,082 2,276 1,830 1,091 1,092

Total $ 706,839
718,195 723,920 800,649 876,951 920,560 886,380 871,679 862,027 803,193

Other includes Tuition & Fees, Insurance & Damage Recoveries, Rentals and Other Revenues.

Source: District Records 128

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

Digest Reductions Compared to Gross Property Digest
amounts in thousands $30,000,000
$25,000,000
$20,000,000
$15,000,000
$10,000,000
$5,000,000
$0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Gross Property Digest
Personal Property Exemption
Elderly Exemption
Homestead Exemption

(amounts expressed in thousands)

Fiscal Year 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Homestead Exemption $ 1,145,638
1,161,646 1,171,954 1,176,070 1,170,390 1,166,776 1,165,038 1,160,256 1,133,942 1,086,141

Elderly Exemption $ 1,697,873
1,844,603 2,044,811 2,355,408 2,612,133 2,921,905 3,115,732 3,374,955 3,308,523 3,305,864

Disabled Residents Exemption $ 16,176
15,650 15,894 15,610 14,708 14,666 15,099 15,389 15,208 14,608

Personal Property Exemption $ 656,714
734,092 973,480 1,078,322 1,182,458 1,264,100 1,086,274 1,159,876 1,501,213 1,274,139

Conservation Exemption $ 49,851 67,233 68,447 83,016 85,575 83,478 80,282 82,041 66,204 53,464

Total Digest Reductions $ 3,566,252 3,823,224 4,274,586 4,708,426 5,065,264 5,450,925 5,462,425 5,792,517 6,025,090 5,734,216

Gross Property
Digest $ 19,081,061
19,679,361 20,609,863 22,095,208 23,932,775 24,185,375 25,287,425 24,774,275 22,649,587 21,363,851

Reductions as Percent of Gross
Digest 18.69% 19.43% 20.74% 21.31% 21.16% 22.54% 21.60% 23.38% 26.60% 26.84%

Source: Cobb County Government

129

COBB COUNTY SCHOOL DISTRICT COMPARISON OF METROPOLITAN ATLANTA SCHOOL DISTRICT PROPERTY TAX RATES JUNE 30, 2012

Metro Atlanta School District Tax Rates

Tax Rate 25.000

20.000

15.000

10.000

5.000

0.000

Atlanta City

Clayton County

Cobb County

Dekalb County

Douglas County

Fulton Gwinnett Marietta Rockdale County County City County

Debt Service M & O

(all tax rates are per $1000 assessed valuation)

Total

School District

Rate

Atlanta City

21.694

Clayton County

20.000

Cobb County

18.900

Dekalb County

22.980

Douglas County

22.950

Fulton County

18.502

Gwinnett County

20.550

Marietta City

19.157

Rockdale County

24.500

Source: Georgia Department of Revenue

Maintenance & Operations
21.640 20.000 18.900 22.980 19.850 18.502 19.250 17.970 24.500

Debt Service 0.054 0.000 0.000 0.000 3.100 0.000 1.300 1.187 0.000

130

COBB COUNTY SCHOOL DISTRICT RESULTS OF ALL BOND AND SALES TAX REFERENDUMS 1950 TO PRESENT

Percentage of Voters Approving Referendums

90% 80% 70% 60% 50% 40% 30% 20% 10% 0%
1950

1961

1964

1973

1979

1985

1989

1995

1998*

2008*

Referendums:

Year 1950 $ 1957 1961 1962 1964 1969 1973 1977 1979 1981 1985 1987 1989 1991 1995 1997* 1998* 2003* 2008*

Amount 1,500,000 1,750,000 2,500,000 3,000,000 4,000,000
15,000,000 16,500,000 22,000,000 20,000,000
8,000,000 27,000,000 58,500,000 59,500,000 39,600,000 220,865,000 609,200,000 626,773,000 636,504,000 797,657,000

Maturity 1970 1977 1980 1983 1994 1990 1994 1996 1997 1997 1997 2001 2002 2004 2007 2002 2003 2008 2013

Action Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Failed Passed Passed Passed

Pro 2,907 2,023 3,187 2,816 2,942 7,769 7,405 10,694 9,725 9,858 24,476 10,716 15,510 20,197 18,140 14,204 36,433 36,078 21,873

Con 841 562 868 986
1,629 2,922 5,165 4,241 7,611 7,511 11,481 2,573 2,311 6,409 13,124 18,820 26,403 10,262 14,137

Void 17 31 38 36 63 5 10 22
219 103
65 126 268 142 177 545
-

Total Votes
3,765 2,616 4,093 3,838 4,634 10,696 12,580 14,957 17,555 17,472 35,957 13,354 17,947 26,874 31,406 33,201 63,381 46,340 36,010

Approval Percentage
77.56% 78.26% 78.59% 74.07% 64.36% 72.67% 58.91% 71.60% 56.10% 56.76% 68.07% 80.64% 87.03% 75.91% 58.02% 43.01% 57.98% 77.85% 60.74%

* 1997, 1998, 2003 and 2008 referendums were for a 1% local option sales tax with the amounts shown representing an estimate of collections for the full five year life of the tax. All other referendums were for bond issues. Source: Cobb County Board of Elections.
131

COBB COUNTY SCHOOL DISTRICT RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL BONDED DEBT TO TOTAL GENERAL EXPENDITURES LAST TEN FISCAL YEARS
Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Expenditures
7%
6%
5%
4%
3%
2%
1%
0% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Fiscal Year 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Debt Service Fund Expenditures $ 45,596,000
45,835,000 45,197,000 46,158,000 46,571,000
-

General Fund Expenditures $ 693,852,000
719,852,000 710,057,000 754,681,000 855,178,000 931,690,000 932,214,000 863,036,000 821,638,000 839,615,000

Ratio of Net Debt Service to General Expenditures
6.57% 6.37% 6.37% 6.12% 5.45% -

Note: Debt Service was fully paid by the end of fiscal year 2007.

Source: District Records

132

COBB COUNTY SCHOOL DISTRICT COBB COUNTY BANK DEPOSITS, CONSTRUCTION AND TAXABLE PROPERTY VALUES LAST TEN FISCAL YEARS

dollars in millions

Cobb County New Construction

$1,400

$1,200

$1,000

$800

$600

$400

$200

$0 2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

(dollars expressed in millions)

Fiscal Year
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Bank Deposits (a)
$ 6,528 $ 6,760 $ 7,425 $ 8,478 $ 9,369 $ 10,026 $ 10,739 $ 10,542 $ 9,468 $ 9,490

Single-Family

Residences (b)

#

$

of Units

Value

2,370 $ 378

2,520 $ 443

2,737 $ 617

2,655 $ 636

2,082 $ 521

1,276 $ 332

510 $ 118

434 $ 99

491 $ 114

597 $ 161

Total New

Construction (b)

#

$

of Permits

Value

8,160 $ 760

8,790 $ 859

9,727 $ 1,175

10,286 $ 1,262

10,232 $ 1,029

9,687 $ 838

7,019 $ 572

5,102 $ 349

5,594 $ 410

5,587 $ 656

Estimated

Actual Value of Taxable Property (c)

$

41,285

$

47,703

$

49,198

$

51,525

$

55,238

$

59,832

$

60,463

$

63,219

$

56,624

$

53,410

(a) Bank deposits as of June 30, 2002 through 2008, supplied by the Georgia Department of Banking and Finance. Bank deposits June 30, 2009 and after, are supplied by the Federal Deposit Insurance Corporation (FDIC).
(b) New residence and construction data for the 12-month period ended December 31 is supplied by the Cobb County Community Development Agency and is on a calendar-year basis.
(c) Source is Cobb County Government and is for the fiscal year ended September 30.

133

COBB COUNTY SCHOOL DISTRICT ADMINISTRATIVE SALARY SCHEDULE JUNE 30, 2012

$250,000 $225,000 $200,000 $175,000 $150,000 $125,000 $100,000 $75,000 $50,000 $25,000
$0

Administrative Salary Range

Minimum

Maximum

Position Title Superintendent Chief Officers/Asst Superintendents Executive Directors Instructional Directors Classified Directors High School Principals Middle School Principals Elementary School Principals
Source: District Records

Minimum $ 237,000
108,748 81,796 85,234 74,752 90,574 82,565 77,933

Maximum

$

237,000

135,000

101,928

115,512

104,856

113,947

110,578

108,823

134

COBB COUNTY SCHOOL DISTRICT SCHEDULE OF INSURANCE IN FORCE JUNE 30, 2012

Type of Coverage

Name of Company and Policy Number

Policy Period

From

To

Liability Limits

Annual Premium

Bus, Truck, Motor Vehicles Liability Property Theft Employee's Blanket Bond General Liability Property Boiler (Includes Insurance) Student Athletic Superintendent's Bond Principal's Bond Worker's Compensation Disability, Long-Term
Disability, Short-Term Option 1
Option 2
Option 3
Option 4
Option 5
Life Insurance and AD&D

Self Insured
Self Insured Travelers #103317698 Self Insured Travelers KTJ-CMB-1849M21-A-10 Sentry Life Ins/The Young Old Republic Surety Co. APO1178250 Old Republic Surety Co. APS1177822 Self Insured The Hartford Policy #402273
The Hartford Policy #402273 The Hartford Policy #402273 The Hartford Policy #402273 The Hartford Policy #402273 The Hartford Policy #402273 The Hartford #402273

6/1/1994 Ongoing $300,000

6/1/1994 Ongoing N/A 7/1/2011 6/30/2012 $7,500,000

6/1/1994 Ongoing $500,000 7/1/2011 6/30/2012 $500,000,000

8/1/201 5/24/2012 Varies 7/1/2011 7/1/2012 $100,000

8/1/2011 8/1/2012 $10,000

N/A 1/1/12

N/A Statutory 12/31/12 Benefit Schedule
per salary

1/1/12 1/1/12 1/1/12 1/1/12 1/1/12 1/1/12

12/31/12 Benefit Schedule per salary
12/31/12 Benefit Schedule per salary
12/31/12 Benefit Schedule per salary
12/31/12 Benefit Schedule per salary
12/31/12 Benefit Schedule per salary
12/31/12 Benefit Schedule per salary

N/A
N/A $17,676
N/A $385,062
Student/Parent Funded $350
$3,990
N/A $1,348,407
Employee pays $9.94 per month. Employee pays $15.33 per month. Employee pays $20.11 per month. Employee pays $24.00 per month. Employee pays $27.37 per month. Monthly - employee pays $0.123 per $1,000 for Life and AD&D insurance. The first $10,000 of coverage for smokers or first $13,000 for nonsmokers is paid by CCSD.

Dependent Life Insurance

The Hartford Policy #402273

Optional Life and AD&D

The Hartford #402273

Dental Insurance Option: High Plan

Delta Dental Policy 11-1554000000

1/1/12 12/31/12 Benefit Schedule per salary
1/1/12 12/31/12 Benefit Schedule per salary

Monthly - employee pays $1 for $10,000 of coverage of child(ren) or $2.50 for $25,000 of coverage; employee pays $2.05 for $10,000 of coverage of spouse or $5.13 for $25,000. Monthly - employee pays $0.165 per $1,000 for Supplemental Life and AD&D up to a maximum of 5 times his/her annual salary for smokers or 6 times for non-smokers.

1/1/12

12/31/12 Plus Plan provides preferred rates with a maximum coverage of $1,000 per participant per calendar year.

Monthly - employee pays $30.09 for single coverage or $82.78 for family coverage.

Continued ---

135

COBB COUNTY SCHOOL DISTRICT SCHEDULE OF INSURANCE IN FORCE JUNE 30, 2012

Type of Coverage
Dental Insurance Option: Low Plan

Name of Company and Policy Number
Delta Dental Policy 11-1554000000

Cancer Insurance Economy Plan Standard Plan Deluxe Plan Vision Insurance Option I Option II Option III Legal Insurance

Allstate Insurance Policy #V1935
Policy #V1935
Policy #V1935
Comp Benefits/Humana Policy #VS6725
Policy #VS6726
Policy #VS6727
ARAG Group Policy #17840-001

Policy Period

From

To

Liability Limits

Annual Premium

1/1/12

12/31/12 Base Plan has co-pays Monthly - employee pays $10.53 for single for Preventative and coverage or $28.84 for family coverage. Diagnostic services with a maximum of $750 coverage per participant per calendar year.

1/1/12 12/31/12 Based on Benefit Schedule
1/1/12 12/31/12 Based on Benefit Schedule
1/1/12 12/31/12 Based on Benefit Schedule

Monthly - employee pays rates Single coverage is $7.06; family coverage is $11.66. Single coverage is $8.60; family coverage is $14.22. Single coverage is $14.48; family coverage is $24.84. Monthly - employee pays rates: Single coverage is $1.24; family coverage is $2.98. Single coverage is $4.32; family coverage is $10.46. Single coverage is $4.84; family coverage is $11.74. Monthly - employee pays $12.27 for single coverage or $15.23 for family Coverage.

Concluded.

Source: District Records

136

COBB COUNTY SCHOOL DISTRICT NUMBER OF SCHOOLS LAST TWENTY FISCAL YEARS

Number of Schools
120

110

100

90

80

70

60

50
High
40
Middle
30

20

Elementary

10

0 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Fiscal Year 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Elementary 55 56 56 56 59 62 62 62 62 62 63 65 65 68 68 68 68 68 68 68

Source: District Records

Middle 16 18 18 18 18 18 19 19 19 21 21 21 21 22 24 24 25 25 25 25
137

High 14 14 14 14 14 14 14 14 15 15 16 16 16 16 17 17 17 17 16 16

Total 85 88 88 88 91 94 95 95 96 98 100 102 102 106 109 109 110 110 109 109

COBB COUNTY SCHOOL DISTRICT NUMBER OF HIGH SCHOOL GRADUATES AND AVERAGE DAILY ENROLLMENT AND ATTENDANCE LAST TWENTY FISCAL YEARS

110,000 105,000 100,000 95,000 90,000 85,000 80,000 75,000 70,000 65,000 60,000

Cobb County School District Average Daily Enrollment

Fiscal Year 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Average Average

Daily

Daily

Enrollment* Attendance

74,339

69,855

77,045

72,899

79,759

75,388

82,291

77,387

84,803

80,165

87,366

82,662

90,290

85,219

92,607

87,594

95,116

89,913

97,066

92,090

97,009

93,725

101,584 96,795

103,061 98,567

104,901 100,432

107,082 102,648

106,734 102,497

106,256 102,144

106,835 102,444

106,868 102,732

106,944 103,008

Attendance Percentage
93.97% 94.62% 94.52% 94.04% 94.53% 94.62% 94.38% 94.59% 94.53% 94.87% 96.61% 95.29% 95.64% 95.74% 95.86% 96.03% 96.13% 95.89% 96.13% 96.32%

Number of Graduates
4,291 4,049 4,381 4,511 4,740 4,801 5,022 5,323 5,541 5,756 6,015 5,928 6,267 6,413 6,522 6,765 7,126 7,177 7,350 7,192

Graduate Percentage**
N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 95.77% 94.06% 94.41% 92.91% 91.85% 98.36% 97.61% 93.91% 99.41%

(*) 2004 data collection procedures changed to include Special Education students in respective grade level (**) Number of Graduates divided by Grade 12 Active Enrollment from page 139 which includes Special Ed students. Source: District Records

138

COBB COUNTY SCHOOL DISTRICT ACTIVE ENROLLMENT BY GRADE LEVEL LAST TEN FISCAL YEARS

120,000

Active Enrollment By Grade Level

100,000 80,000 60,000 40,000 20,000
0
2003 2004* 2005

2006

2007

2008

2009

2010

2011

2012

Special Ed Grade 12 Grade 11 Grade 10 Grade 9 Grade 8 Grade 7 Grade 6 Grade 5 Grade 4 Grade 3 Grade 2 Grade 1 Grade K

Fiscal Year 2003 2004* 2005 2006 2007 2008 2009 2010 2011 2012

Pre-K and K 8,026 9,077 9,255 9,611 9,604 9,065 8,874 9,262 9,253 9,159

Grade Grade Grade Grade Grade Grade Grade Grade Grade Grade Grade Grade Special

1

2

3

4

5

6

7

8

9 10 11 12 Ed. Total

6,997 7,325 7,291 7,481 7,524 7,426 7,436 7,234 7,773 7,148 6,316 6,032 3,000 97,009

7,576 7,522 7,823 7,767 8,021 7,902 8,206 8,286 8,555 7,512 6,912 6,190

101,349

7,750 7,764 7,766 7,972 7,977 8,130 8,071 8,287 9,114 7,610 6,926 6,663

103,285

7,993 8,012 8,013 7,964 8,141 8,031 8,264 8,201 9,141 8,101 7,217 6,793

105,482

8,246 8,061 8,303 7,921 8,229 8,069 8,132 8,280 8,950 8,171 7,586 7,020

106,572

8,260 8,262 8,233 8,052 8,037 8,035 8,143 8,187 8,928 8,083 7,406 7,365

106,056

8,142 8,176 8,298 8,147 8,189 7,812 7,973 8,254 8,810 8,331 7,491 7,245

105,742

8,029 8,286 8,285 8,291 8,230 8,131 7,822 8,007 9,850 7,391 7,551 7,353

106,488

8,292 8,001 8,369 8,166 8,344 8,077 8,165 7,868 9,804 8,121 6,549 7,827

106,836

8,189 8,303 8,184 8,330 8,284 8,155 8,186 8,154 9,437 8,021 6,865 7,235

106,502

*2004 data collection procedures changed to include Special Education students in respective grade level

Source: District Records

139

COBB COUNTY SCHOOL DISTRICT CLASSROOM BUILDINGS, GRADE LEVELS AND ACREAGE JUNE 30, 2012

School Name Acworth Intermediate Addison Argyle Austell Primary Austell Intermediate Baker Bells Ferry Belmont Hills Big Shanty Birney Blackwell Brown Brumby Bryant Bullard Chalker Cheatham Hill Clarkdale (b) Clay Compton Davis Dowell Due West East Side Eastvalley Fair Oaks Ford Frey Garrison Mill Green Acres Harmony Leland Hayes Hollydale Keheley Kemp Kennesaw Kincaid King Springs Labelle Lewis Mableton McCall Primary Milford Mount Bethel Mountain View Murdock Nicholson Nickajack Norton Park Pickett's Mill Pitner Powder Springs Powers Ferry Riverside Primary Riverside Intermediate Rocky Mount Russell Sanders Sedalia Park Shallowford Falls Sky View Sope Creek

Grades 2-5 K-5 K-5 K-1 2-5 K-5 K-5 K-5 3-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-2 K-5 K-5 K-5 K-5 K-5 K-1 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-1 2-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5

Active Enrollment
821 594 647 314 603 789 590 496 789 755 703 302 952 825 971 743 1,123 391 510 453 543 980 553 1,119 638 837 753 693 723 785 591 1,020 735 470 929 824 670 692 456 800 457 451 658 1,006 853 825 513 960 708 707 942 802 468 561 925 613 693 903 816 674 400 1,142

Size of Occupied

Site (acres) Year (a)

15.0

2001

12.5

1989

8.8

1961

12.4

2005

23.0

2001

15.0

1988

10.0

1963

10.2

1952

22.3

1968

26.8

1973

16.0

1998

6.2

1955

9.5

1966

20.9

1991

20.0

2003

25.5

1997

19.2

1997

-

-

8.0

1961

28.3

1969

13.0

1987

28.9

1989

10.2

1957

10.0

2011

7.8

1960

10.3

1957

39.0

1991

26.2

1996

14.1

1984

10.1

1996

8.4

1951

24.2

1993

15.0

1968

20.7

1986

26.2

2002

20.7

1991

24.0

1972

9.9

1956

10.2

1955

10.9

1986

5.7

1950

6.0

2005

8.7

1954

25.0

1978

13.0

1986

15.3

1975

23.1

1990

16.8

1998

9.2

1961

40.9

2008

22.2

2003

15.9

1988

10.0

1951

9.0

2005

18.4

2001

21.8

1977

14.1

1961

21.1

1997

10.2

1956

15.3

1990

10.1

1957

16.0

1978

Number of Classrooms
59 42 36 36 61 63 45 36 52 59 52 24 58 61 63 62 68
29 60 50 62 39 69 36 54 53 61 44 44 33 61 53 38 61 61 48 37 44 61 25 36 39 60 55 61 40 60 52 62 61 57 30 36 61 39 61 53 57 61 30 73

Portable Classrooms
15 1 9 3 10 7 3 2 3 4 3 5 6 6 1 9 1 8 12

Square Footage
131,924 81,334 56,238 85,236 123,025 106,694 83,098 68,409 84,461 105,886 111,299 49,045 99,181 116,071 136,261 124,148 137,108 55,412 99,427 86,131
106,003 70,367 149,764 60,029 97,993 91,129 125,717 85,775 90,915 65,127 119,189 89,012 70,537 123,000 116,400 83,969 59,658 82,912 115,363 47,426 88,158 73,352 110,096 102,725 123,233 75,800 122,342 87,935 139,090 136,261 101,870 59,190 85,236 123,000 71,408 103,369 116,302 99,735 112,620 50,270 133,344

Capacity 913 662 537 562 962 987 712 562 837 912 837 412 912 962 987 963
1,063 -
437 937 788 963 587 1,087 562 863 862 963 688 688 512 962 862 588 962 962 762 587 688 962 412 562 612 937 887 962 637 937 837 963 962 888 462 562 962 612 962 862 888 962 462 1,162

140

COBB COUNTY SCHOOL DISTRICT CLASSROOM BUILDINGS, GRADE LEVELS AND ACREAGE JUNE 30, 2012

School Name Still Teasley Timber Ridge Tritt Varner Vaughan Awtrey Barber Campbell Cooper Daniell Dickerson Dodgen Durham East Cobb Floyd Garrett Griffin Hightower Trail Lindley 6th Gr. Acad. Lindley Lost Mountain Lovinggood Mabry McCleskey McClure Palmer Pine Mountain Simpson Smitha Tapp Allatoona Campbell Harrison Hillgrove Kell Kennesaw Mountain Lassiter McEachern North Cobb Oakwood Osborne Pebblebrook Perform. Learning Ctr (c) Pope South Cobb Sprayberry Walton Wheeler Hawthorne Center (d) HAVEN @ Fitzhugh Lee (d) Kennesaw Charter (e) Mableton Charter (e) Smyrna Charter (e) Devereux Georgia (e)
TOTALS

Active

Grades Enrollment

K-5

764

K-5

689

K-5

650

K-5

908

K-5

774

K-5

721

6-8

881

6-8

967

6-8

1,201

6-8

851

6-8

972

6-8

1,212

6-8

1,190

6-8

1,101

6-8

1,281

6-8

870

6-8

853

6-8

1,064

6-8

956

6

523

7-8

1,041

6-8

1,016

6-8

1,214

6-8

849

6-8

668

6-8

1,138

6-8

999

6-8

725

6-8

862

6-8

968

6-8

724

9-12

1,762

9-12

2,105

9-12

1,973

9-12

2,020

9-12

1,606

9-12

2,034

9-12

1,971

9-12

2,098

9-12

2,566

9-12

79

9-12

1,558

9-12

1,824

9-12

57

9-12

1,718

9-12

1,863

9-12

1,727

9-12

2,569

9-12

1,955

Altrntv

-

Altrntv

131

K-6

614

K-8

526

K-8

793

1-12

62

106,502

Size of Occupied

Site (acres) Year (a)

10.9

1978

13.2

1961

11.5

1990

23.7

1979

20.0

1990

28.0

1996

26.2

1965

25.8

2005

33.2

1951

75.1

2001

20.0

1966

21.9

1981

20.6

1975

43.0

1998

20.0

1963

20.0

1964

36.6

1972

24.4

1972

26.4

1993

28.7

1962

33.3

2001

83.8

1992

29.4

2006

22.0

1978

34.8

1983

38.0

2006

43.1

2001

39.7

1979

16.5

1988

21.8

1993

16.9

1975

114.7

2008

47.9

1963

73.0

1991

95.0

2006

63.1

2002

75.0

2000

49.3

1981

74.9

1930

46.8

1957

10.0

1944

50.7

1961

52.5

1963

Number of Classrooms
62 32 39 60 61 60 64 71 84 71 71 73 74 71 83 68 51 71 62 45 71 70 71 71 46 72 71 50 47 70 70 99 135 94 102 102 102 108 127 143 43 106 93

47.0

1987

98

54.4

1951

134

41.3

1973

106

43.3

1975

119

48.8

1964

95

6.2

1958

18

7.0

1935

17

2,906.6

6,907

Portable Classrooms
5 4 2 11 3 3 2 -
5 36 2 2
183

Square Footage
116,074 55,944 73,450
109,769 109,827 122,260 149,860 178,465 207,172 170,905 163,526 166,048 183,798 173,487 186,961 166,551 122,329 186,947 149,038 111,260 179,170 165,107 175,345 160,581 113,525 191,209 175,974 131,399 110,000 169,345 157,435 325,200 367,080 243,215 319,000 321,068 319,000 278,986 504,107 406,817
93,858 328,000 319,768
260,606 395,332 297,400 307,655 318,504
32,500 35,684
16,012,550

(a) Occupied year represents the year during which the school was initially opened and utilized for instructional purposes but does not reflect the most recent year of subsequent additions, improvements or renovations, if any, to the facility.
(b) Clarkdale destroyed by flood fall 2009. Students housed at other schools; enrollment recorded as Clarkdale. (c) Performance Learning Center is housed at Oakwood. (d) Hawthorne Center enrollment is included with HAVEN Academy @ Fitzhugh Lee. (e) Operated by a non-profit. Enrollment reported by CCSD; buildings do not belong to CCSD.

Source: District Records

141

Capacity 963 487 612 937 962 937
1,037 1,162 1,338 1,162 1,163 1,187 1,212 1,162 1,362 1,112
812 1,162 1,012
788 1,162 1,137 1,162 1,162
937 1,163 1,162
887 837 1,137 1,137 1,912 2,637 1,837 1,987 1,987 1,987 2,112 2,362 2,787 462 2,062 1,788
1,912 2,612 2,062 2,312 1,837
312 312
116,277

(This page was left blank intentionally)

COBB COUNTY BOARD OF EDUCATION
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS IN ACCORDANCE
WITH THE SINGLE AUDIT ACT AND GOVERNMENT AUDITING STANDARDS FOR THE YEAR ENDED JUNE 30, 2012

COBB COUNTY BOARD OF EDUCATION
FOR THE YEAR ENDED JUNE 30, 2012
TABLE OF CONTENTS
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
INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE WITH REQUIREMENTS THAT COULD HAVE A DIRECT AND MATERIAL EFFECT ON EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS NOTE TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS SCHEDULE OF FINDINGS AND QUESTIONED COSTS SCHEDULE OF PRIOR AUDIT FINDINGS

Page
1 and 2
3-5 6 and 7
8 9-12
13

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 Superintendent and Members of the Cobb County Board of Education
Marietta, Georgia
We have audited the financial statements of the governmental activities, each major fund, and the
aggregate remaining fund information of Cobb County Board of Education (the "Board"), as of and for the year
ended June 30, 2012, which collectively comprise the Board's basic financial statements, and have issued our report thereon dated December 6, 2012. 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.
Internal Control Over Financial Reporting
Management of the Board is responsible for establishing and maintaining effective internal control over financial reporting. In planning and performing our audit, we considered the Board's internal control over financial reporting as a basis for designing our auditing procedures 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 Board's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Board's internal control over financial reporting.
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 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.
Our consideration of internal control over financial reporting 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 financial reporting that might be deficiencies, significant deficiencies or material weaknesses. We did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses, as defined previously.

Compliance and Other Matters As part of obtaining reasonable assurance about whether the Board's financial statements are free
of 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.
We noted certain matters that we reported to management of the Board in a separate letter dated December 6, 2012.
This report is intended solely for the information and use of management, the members of the Board, others within the entity, and federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties.
Atlanta, Georgia December 6, 2012
2

INDEPENDENT AUDITOR'S REPORT ON COMPLIANCE WITH REQUIREMENTS THAT COULD HAVE A DIRECT AND MATERIAL EFFECT ON EACH MAJOR PROGRAM AND ON INTERNAL
CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133
To the Superintendent and Members of the Cobb County Board of Education
Marietta, Georgia
Compliance
We have audited the Cobb County Board of Education's compliance, with the types of
compliance requirements described in the U.S. Office of Management and Budget (OMB) Circular A-133 Compliance Supplement that could have a direct and material effect on each of its major federal programs for the year ended June 30, 2012. The Cobb County Board of Education's major federal programs are identified in the summary of auditor's results section of the accompanying schedule of findings and questioned costs. Compliance with the requirements of laws, regulations, contracts, and grants applicable to each of its major federal programs is the responsibility of the Cobb County Board of Education's management. Our responsibility is to express an opinion on the Cobb County Board of Education's compliance based on our audit.
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; and OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations. Those standards and OMB Circular A-133 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 Cobb County Board of Education'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. Our audit does not provide a legal determination of the Cobb County Board of Education's compliance with those requirements.
As described in item 2012-1 in the accompanying schedule of findings and questioned costs, the Cobb County Board of Education did not comply with requirements regarding matching that are applicable to its National Clean Diesel Grant. Compliance with such requirements is necessary, in our opinion, for Cobb County Board of Education to comply with the requirements applicable to that program.

In our opinion, except for the noncompliance described in the preceding paragraph, the Cobb County Board of Education 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, 2012.
Internal Control Over Compliance
Management of the Cobb County Board of Education is responsible for establishing and maintaining effective internal control over compliance with the requirements of laws, regulations, contracts, and grants applicable to federal programs. In planning and performing our audit, we considered the Cobb County Board of Education's internal control over compliance with the requirements that could have a direct and material effect on a major federal program to determine the auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with OMB Circular A133, 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 Cobb County Board of Education's internal control over compliance.
Our consideration of internal control over compliance was for the limited purpose described in the preceding paragraph and was not designed to identify all deficiencies in internal control over compliance that might be significant deficiencies or material weaknesses and therefore, there can be no assurance that all deficiencies, significant deficiencies, or material weaknesses have been identified. However, as discussed below, we identified a deficiency in internal control over compliance that we consider to be a material weakness.
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 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. We consider the deficiency in internal control over compliance described in the accompanying schedule of findings and questioned costs as item 2012-1 to be a material weakness.
4

Schedule of Expenditures of Federal Awards
We have audited the financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of the Cobb County Board of Education as of and for the year ended June 30, 2012, and have issued our report thereon dated December 6, 2012 which contained an unqualified opinion on those financial statements. Our audit was performed for the purpose of forming our opinions on the financial statements that collectively comprise Cobb County Board of Education's financial statements. The accompanying schedule of expenditures of federal awards is presented for purposes of additional analysis as required by OMB Circular A-133 and is not a required part of the financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain other procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the schedule of expenditures of federal awards is fairly stated in all material respects in relation to the financial statements as a whole.
The Cobb County Board of Education's response to the finding identified in our audit is described in the accompanying schedule of findings and questioned costs. We did not audit the Cobb County Board of Education's response and, accordingly, we express no opinion on it.
This report is intended solely for the information and use of management, the members of the Board, others within the entity, and federal awarding agencies and pass-through entities and is not intended to be and should not be used by anyone other than these specified parties.
Atlanta, Georgia December 6, 2012
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COBB COUNTY SCHOOL DISTRICT SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS FOR THE YEAR ENDED JUNE 30, 2012
Funding Agency Program/Grant
Agriculture, U.S. Department of, Passed Through Georgia Department of Education Child Nutrition Cluster: National School Breakfast Program National School Lunch Program - Cash National School Lunch Program - Commodities
Total U.S. Department of Agriculture
Education, U.S. Department of, Direct Programs: Safe and Drug Free Schools and Communities- Reduce Alcohol Abuse Safe and Drud Free Schools and Communities- Title IV - Success for All Students Teaching American History Total Direct Programs
Passed Through Georgia Department of Education: Title I, Part A Cluster: Local Education Agencies ARRA - Local Education Agencies Distinguished School Awards School Improvement ARRA - School Improvement Total Title I, Part A Cluster Title I, Part C - Migrant Education
Special Education Cluster (IDEA): Title VI-B Flow Through Title VI-B Psycho Ed SED Special Project Preschool Grants Total Special Education Cluster (IDEA)
Vocational Education-Basic Grant Title IV, Part A, Safe and Drug-Free Schools Title IV, Part B, 21st Century Community Learning Ctrs Education for Homeless Children and Youth Cluster:
Education for Homeless Children ARRA - Education for Homeless Children
Total Education for Homeless Children and Youth Cluster
Title II, Part A: Improving Teacher Quality Advanced Placement Testing Total Title II, Part A

CFDA Number
10.553 10.555 10.555
84.184A 84.184L 84.215X
84.010 84.389A 84.010 84.010 84.389A 84.011
84.027 84.027 84.173
84.048 84.186 84.287 84.196 84.387A
84.367 84.367

Expenditures

5,351,348 20,701,246
3,630,922

29,683,516

229,971 2,193,254
364,667

2,787,892

16,978,281 1,198,478 20,337 158,371 81,811
22,196,891 536,954 465,696
66,197 13,644
2,018,082 9,695

18,437,278 19,220

23,199,541 645,366 68,325
1,484,969
79,841

2,027,777

Continued---

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Title II, Part D, Enhancing Education through Technology Title III, Part A:
Limited English Proficient Education Jobs Fund
Passed Through Georgia State University: Teacher Quality Partnership Grants (I3) Investing in Innovation Fund
Passed Through Technical College System of Georgia Adult Education
Total U.S. Department of Education
Health and Human Services, U.S. Department of, Passed Through Georgia Department of Behavioral Health and Developmental Disabilities: Substance Abuse and Mental Health Services Prevention/Treatment of Substance Abuse
Passed Through Georgia Department of Human Services: Temporary Assistance for Needy Families
Total U.S. Dept. of Health and Human Services
Other Federal Assistance: Corporation for National & Community Services Passed Through University of Alabama Service Learning STEM
Environmental Protection Agency National Clean Diesel ARRA
National Endowment for the Arts Learning in the Arts for Children and Youth
Defense, U.S. Department of R.O.T.C. Program
Total Other Federal Assistance
TOTAL FEDERAL AWARDS

84.318 84.365 84.410 84.336 84.411A 84.002
93.243 93.959 93.558
94.004 66.039 45.024 12.357

111,554 1,166,745
257,128
87,530 2,623
641,829 51,017,618

38,848 48,805
66,511 154,164

7,995 588,887
24,000

962,439 1,583,321 82,438,619

Concluded.

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COBB COUNTY BOARD OF EDUCATION NOTE TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED JUNE 31, 2012
BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Cobb County Board of Education and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of OMB Circular A-133, "Audits of States, Local Governments and Non-Profit Organizations." Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the financial statements.
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COBB COUNTY BOARD OF EDUCATION
SCHEDULE OF FINDINGS AND QUESTIONED COSTS FOR THE FISCAL YEAR ENDED JUNE 30, 2012

SECTION I SUMMARY OF AUDITOR'S RESULTS

Financial Statements Type of auditor's report issued

Unqualified

Internal control over financial reporting: Material weakness(es) identified?

yes X no

Significant deficiency(ies) identified? Noncompliance material to financial statements noted?

yes X none reported yes X no

Federal Awards Internal Control over major programs:

Material weakness(es) identified? Significant deficiency(ies) identified?

X yes

no

yes X none reported

Type of auditor's report issued on compliance for major programs
Any audit findings disclosed that are required to be reported in accordance with Section 510(a) of OMB Circular?
Identification of major programs:

Qualified for National Clean Diesel Grant; Unqualified for Title I, Part A Cluster and Special Education Cluster (IDEA)

X yes

no

CFDA Number 84.010, 84.389A 84.027, 84.173 66.039

Name of Federal Program or Cluster Title I, Part A Cluster Special Education Cluster (IDEA) National Clean Diesel Grant

Dollar threshold used to distinguish between Type A and Type B programs:

$2,473,159

Auditee qualified as low-risk auditee?

yes X no

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COBB COUNTY BOARD OF EDUCATION
SCHEDULE OF FINDINGS AND QUESTIONED COSTS FOR THE FISCAL YEAR ENDED JUNE 30, 2012

None reported.

SECTION II FINANCIAL STATEMENT FINDINGS

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COBB COUNTY BOARD OF EDUCATION
SCHEDULE OF FINDINGS AND QUESTIONED COSTS FOR THE FISCAL YEAR ENDED JUNE 30, 2012
SECTION III FEDERAL AWARDS FINDINGS AND QUESTIONED COSTS
2012 - 1. Matching of Local Funds
Programs: Environmental Protection Agency (CFDA #66.039) CFDA Program Titles: National Clean Diesel Grant - ARRA Pass-through Agency: N/A
Criteria: Grant requirements, as provided from the Office of Management and Budget (OMB) under A-102 Common Rule and OMB Circular A-110 provide the following list as the basic criteria for acceptable matching:
Are verifiable from the non-federal entity's records. Are not included as contributions for any other federally assisted project or program, unless specifically
allowed by Federal program laws and regulations. Are necessary and reasonable for proper and efficient accomplishment of project or program objectives. Are allowed under the applicable cost principles. Are not paid by the Federal Government under another award, except where authorized by Federal statute
to be allowable for cost sharing or matching. Are provided for in the approved budget when required by the Federal awarding agency. Conform to other applicable provisions of the A-102 Common Rule and OMB Circular A-110 and the
laws, regulations, and provisions of contract or grant agreements applicable to the program.
Condition: During our testing of the District's calculation of matching or cost sharing for this program, we identified the District was using a cost savings of product installation as a portion of the match. The District determined the anticipated costs of outsourcing the labor of outside mechanics would have cost approximately $72,000; however, using their own fleet employees, the District was able to install the devices. As such the District recognized a cost savings to the District of approximately $37,000. This cost savings was reported as a portion of the District's required match for the program.
Context/Cause: The District was operating under the guidance of the local office of the Environmental Protection Agency (EPA), who provided guidance to the District acknowledging the District would be permitted to include the cost savings as a portion of the grant's required match. Through this guidance from their local office, the District continued to seek reimbursement from the federal program at the original agreed upon federal participation rate of eight-six and forty-eight one-hundredths percent (86.48%).
Effects: As the District was not familiar with the general requirements as provided by OMB through Circular A110 and A-102 Common Rule, the District operated under the guidance of the local office of EPA. Through the reporting of the cost savings as a portion of the match or cost sharing, the District overstated their participation in the project. The District's actual cost sharing requirement was thirteen and fifty-two one-hundredths (13.52%) percent. Based on the eligible matching costs, the District contributed $120,419 which should have limited the federal participation in the project to the lesser of the federal contribution rate (86.48%) and the maximum award ($1,240,275).
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COBB COUNTY BOARD OF EDUCATION SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FOR THE FISCAL YEAR ENDED JUNE 30, 2012
SECTION III FEDERAL AWARDS FINDINGS AND QUESTIONED COSTS (CONTINUED) 2012- 1. Matching of Local Funds (Continued) Questioned Costs: Based on the reduced participation of the District, the federal program was charged $37,300 in excess of the grant's participation rate. Recommendation: We recommend the District carefully review and utilize the Grants Management Circulars provided through the Office of Management and Budget, as these requirements provide official guidance in instances where the grant agreement or a local division of the federal government provides conflicting information. Auditee's Response: We disagree with the finding, as it is presented. The District worked directly with the local Region 4 office of the Environmental Protection Agency, and relied on their guidance and direction, as they were a branch of the federal awarding agency. The guidance which the District was provided acknowledged the intended use of cost savings or "leverage" as a portion of the required match, since the District was able to install the parts in-house rather than outsourcing to a local vendor. As such, we complied with the guidance we were provided by our local program coordinator. We will ensure controls are in place to carefully review all grant documents and ensure all compliance requirements are carefully considered upon receipt of all future grant awards. Auditor's Response: While we understand the position and difficult situation the District is now placed as a result of adhering to the guidance which was provided by the local regional programmatic office, the District unfortunately failed to comply with the compliance requirements as issued by the Office of Management and Budget (OMB) Circular A-133. As a means of verifying the required reporting and treatment for this situation, we have contacted the National Single Audit Coordinator for the Office of Inspector General of the U.S. Environmental Protection Agency and have confirmed the required reporting. While the District was working and operating under the guidance of the local programmatic office, they were given guidance which contradicts the requirements of the OMB Circular A-133 and thus fails to comply with the requirements as stated above.
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COBB COUNTY BOARD OF EDUCATION SCHEDULE OF PRIOR AUDIT FINDINGS FOR THE FISCAL YEAR ENDED JUNE 30, 2012
SECTION IV STATUS OF PRIOR AUDIT FINDINGS 2011-3: Title I, Part A Cluster - CFDA #84.010 and 84.389; Comparability Condition and Context: As noted in our testing of comparability, the full-time equivalent (FTE) count for three of the forty non-Title I elementary schools was not reported correctly on the Title I Comparability Report submitted to the Georgia Department of Education. When the correct counts are used in the calculation, one of the thirty-one Title I elementary schools is not comparable based on the comparability calculation and criteria used. The corrected reports calculate a student-teacher ratio for the elementary schools of 13.1 which would require Title I schools to have a 14.4 ratio or lower. One elementary school only had a student teacher ratio of 14.6, which would put the elementary school in violation of the required comparability ratio for a Title I school. It is important to note that the current reporting process is extremely manual. Internal controls over the review of the Title I Comparability Report were not sufficient to detect and correct the errors. Status: This finding was resolved during the current year. 2011-4: Title I, Part A Cluster - CFDA #84.010 and 84.389; Procurement and Suspension and Debarment Condition and Context: While the District's General Terms & Conditions for vendors contains general language, the vendor is required to specifically confirm their exclusion from the database for contracts funded by the Title I programs or the District may elect to check the Excluded Parties List System (EPLS).The School District did not have adequate controls in place to ensure that the contract was not being awarded to a suspended or debarred party. Status: This finding was resolved during the current year.
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