(This page was left blank intentionally) Area 5 1st Grade Haley Greene McClure MS Sarah Aldama 8th Grade COBB COUNTY SCHOOL DISTRICT COMPREHENSIVE ANNUAL FINANCIAL REPORT Fiscal Year Ended June 30, 2013 Timothy Toby Ogunlowo Area 1 Milo Kennedy Mableton ES Gabe Sotillo Area 3 Area 2 8th Grade 11th Grade Campbell HS Whyteni Willis Campbell MS Zai`Da Clark Pope HS Caleb Mitchell Area 2 11th Grade Area 3 Area 5 3rd Grade 8th Grade Area 3 4th Grade Area 4 4th Grade Sedalia Park ES Jordan Grubb Tapp MS Leah Delfausse Brumby ES Aiden Bryce Area 5 Area 5 6th Grade 11th Grade North Cobb HS Symone Brown Russell ES 5th Grade Lost Mountain MS Report Prepared by Financial Services Division Mr. Brad Johnson, Chief Financial Officer 514 Glover Street - Marietta, Georgia 30060 Area 4 Vaughan ES Madeline Ambery Keheley ES Area 2 3rd Grade Acknowledgements On behalf of the Cobb County Board of Education and the Financial Services Division, we are proud to present the 2013 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 Jan Hendrix 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 student artist, thank you for turning our 2013 Comprehensive Annual Financial Report into a beautiful work of art. Brad Johnson Chief Financial Officer Haley Greene, 8th Grade Art Teacher, Melinda Kerpoe McClure Middle School Area 5 Milo Kennedy, 1st Grade Art Teacher, Cheryl Anthony Mableton Elementary School Area 1 Sara Aldama, 11th Grade Art Teacher, Michael Ross Campbell High School Area 2 Gabe Sotillo, 11th Grade Art Teacher, Joy Johnson Pope High School Area 3 Whyteni Willis, 4th Grade Art Teacher, Lisa Casey Sedalia Park Elementary School Area 3 Timothy Toby Ogunlowo, 8th Grade Caleb Mitchell, 3rd Grade Art Teacher, Emily Ledford Art Teacher, William Dryden Campbell Middle School Brumby Elementary School Area 2 Area 3 Jordan Grubb, 11th Grade Art Teacher, Dorothy Holmes North Cobb High School Area 4 Zai`Da Clark, 8th Grade Art Teacher, Tracey MacJack Tapp Middle School Area 5 Aiden Bryce, 4th Grade Art Teacher, Carol Case Vaughan Elementary School Area 5 Symone Brown, 5th Grade Art Teacher, Suzanne Hutsenpiller Russell Elementary School Area 2 Leah Delfausse, 6th Grade Art Teacher, Julie Denison Lost Mountain Middle School Area 5 Madeline Ambery, 3rd Grade Art Teacher, Renee Theriot Keheley Elementary School Area 4 COBB COUNTY SCHOOL DISTRICT COMPREHENSIVE ANNUAL FINANCIAL REPORT TABLE OF CONTENTS FOR THE YEAR ENDED JUNE 30, 2013 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 Position Statement of Activities Fund Financial Statements: Balance Sheet - Governmental Funds Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position PAGE i-v vi vii viii ix x xi 1-4 5-16 17 18 19 20 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 Position Proprietary Funds Statement of Revenues, Expenses, and Changes in Fund Net Position 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 Position - Internal Service Funds Combining Statement of Revenues, Expenses, and Changes in Fund Net Position - Internal Service Funds PAGE 21 22 23 24 25 26 27 28-51 52-54 55-59 60-64 65-82 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 Position by Component - Last Ten Fiscal Years Changes in Net Position Last Ten Fiscal Years Fund Balances, Governmental Funds Last Ten Fiscal Years Changes in Fund Balances, Governmental Funds Last Ten Fiscal Years Property Tax Levies and Collections Assessed and Estimated Actual Value of Taxable Property - Last Ten Fiscal Years Direct and Overlapping Property Tax Rates Last Ten Fiscal Years Principal Property Taxpayers December 31, 2012 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 Legal Debt Margin Information Fiscal Year 2013 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 Comparison of Metropolitan Atlanta School District Property Tax Rates Cobb County Bank Deposits, Construction and Taxable Property Values Last Ten Fiscal Years Property Digest Reductions Due to Exemptions Last Ten Fiscal Years 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 General Fund Revenues by Source Last Ten Fiscal Years Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Expenditures Last Ten Fiscal Years Results of All Bond and Sales Tax Referendums School Buildings Last Ten Fiscal Years Teachers' Salary Schedule Last Ten Fiscal Years Administrative Salary Schedule PAGE 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123-130 131 132 Schedule of Insurance in Force School Lunch and Breakfast Program Last Ten Fiscal Years Number of Schools Last Ten Fiscal Years Number of High School Graduates and Average Daily Enrollment and Attendance Last Ten Fiscal Years Active Enrollment by Grade Level Last Ten Fiscal Years Classroom Buildings, Grade Levels and Acreage PAGE 133-134 135 136 137 138 139-140 (This page was left blank intentionally) P.O. Box 1088 Marietta, GA 30061 Telephone: (770) 426-3300 www.cobbk12.org December 6, 2013 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, 2013. 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 boundaries whereby each child has access to programs and services that are appropriate to his or her educational needs. BOARD OF EDUCATION SUPERINTENDENT Randy Scamihorn, Chair Brad Wheeler, Vice Chair Tim Stultz David Morgan Kathleen Angelucci David Banks Scott Sweeney Michael Hinojosa, Ed.D. The District is the second largest school system in Georgia and the 24th largest in the United States with an average daily enrollment of 108,240. 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 previous experience was 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 prides itself on providing a quality educational experience to all of our students, while efficiently managing our resources. Here are a few of the many accomplishments from the 2013 fiscal year: The District average SAT score of 1515 is 63 points higher than the state average and 17 points higher than the national average. 81% of 2013 graduates took the SAT. In 2012 and 2013, 15 Cobb high schools were recognized by the Georgia Department of Education as Advanced Placement Honor Schools for increasing AP access and participation. Cobb is among just 388 public school systems in the United States to earn a place on the College Board's AP Achievement List for expanding access to rigorous AP coursework. Cobb students meet with success and move on to post-secondary schools at high rates. For 2011 (most recent data available), 75.5% enrolled in post-secondary institutions during the first year after graduation. Two of Cobb's elementary schools, Fair Oaks and Tritt, were recognized as National Blue Ribbon Schools. A total of 10 District schools have received this prestigious award since the year 2000. For 2011 (most recent data available), the District had the lowest administrative expense per student when comparing the five largest metro Atlanta school districts. More details may 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. 61, "The Financial Reporting Entity: Omnibus an Amendment of GASB Statements No. 14 and No. 34." This report includes all funds and account groups of the District. The District is not included in any other reporting entity, and no other entities are included within this report. The District maintains budgetary controls to ensure compliance with legal provisions embodied in the annual appropriated budget approved by the Cobb County Board of Education. Activities ii of the General Fund, Special Revenue Funds and Student Information Systems Fund 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 $65,423, an unemployment rate of 8.0%, and a growing population which increased from 630,600 in 2003 to 707,500 in 2012. Student enrollment for the 2013 fiscal year was 108,262. In fiscal year 2013 the District's gross property digest decreased by 2.2% over the 2012 fiscal year's digest as compared to a decrease of 5.7% the previous year and a total decrease of 13.6% 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 2013 due to $72.1 million austerity cuts in state funding. We expect continuing challenges in the future due to further anticipated cuts in state funding, as well as lower property tax revenue due to continuing depressed real estate values. Despite these challenges, the District remains committed to conservative fiscal management practices. In addition to the State-mandated requirement of a balanced budget, we are committed to remain debt-free, and to maintain a minimum unassigned General Fund Balance equal to one month's operating expenditures, as stated in official Board policy. ______________________________________________________________________________ LONG-TERM FINANCIAL PLANNING ______________________________________________________________________________ The District anticipates meeting its projected capital improvement needs through December 2018 through county sales tax revenues. In March 2013, 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, 2014 and ending December 31, 2018. The revenue generated from sales tax has been 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 139 and 140, in the statistical section. iii ___________________________________________________________________________ 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 a separately issued Report of Independent Certified Public Accountants in Accordance with the Single Audit Act and Governmental Auditing Standards. Financial Reporting Awards: Every year since 1980, our comprehensive annual financial report has earned a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA). Additionally, the District's comprehensive 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 Jan Hendrix, 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. The active involvement and professional support of Mauldin & Jenkins, LLC Audit Manager, Christopher McKellar and his auditing staff have been instrumental in the prompt completion of the associated audit of this report. iv 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. Michael Hinojosa Superintendent Brad R. Johnson Chief Financial Officer v Government Finance Officers Association 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, 2012 Executive Director/CEO vi vii COBB COUNTY SCHOOL DISTRICT FUNCTION AND COMPOSITION JUNE 30, 2013 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, 2013 the members of the Board and years of expiration of their terms are as follows: Title Chair Vice-Chair Board Member Board Member Board Member Board Member Board Member Name Mr. Randy Scamihorn Mr. Brad Wheeler Mr. Tim Stultz Ms. Kathleen Angelucci Mr. David Morgan Mr. David Banks Mr. Scott Sweeney Term Expires December 31, 2016 December 31, 2016 December 31, 2014 December 31, 2014 December 31, 2016 December 31, 2016 December 31, 2014 viii COBB COUNTY SCHOOL DISTRICT ELECTED OFFICIALS AND SUPERINTENDENT OF SCHOOLS JUNE 30, 2013 RANDY SCAMIHORN POST 1 1 Year Served TIM STULTZ POST 2 3 Years Served DAVID MORGAN POST 3 5 Years Served KATHLEEN ANGELUCCI POST 4 3 Years Served DAVID BANKS POST 5 5 Years Served SCOTT SWEENEY BRAD WHEELER POST 6 3 Years Served POST 7 1 Year Served MICHAEL HINOJOSA SUPERINTENDENT ix COBB COUNTY SCHOOL DISTRICT SUPERINTENDENT'S CABINET JUNE 30, 2013 Michael Hinojosa Cheryl Hungerford Chris Ragsdale Angela Huff Brad Johnson Amy Krause Michael Shanahan Jay Dillon Mary Elizabeth Davis Carol Seay Barbara Swinney Dale Gaddis Doreen Griffeth Ed Thayer James Carter Vacant Superintendent Deputy Superintendent for Leadership and Learning Deputy Superintendent for Operational Support 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, 2013 Citizens of Cobb County Board of Education Board Attorney Superintendent Dr. Michael Hinojosa Deputy Superintendent Leadership & Learning Dr. Cheryl Hungerford Deputy Superintendent Operational Support Chris Ragsdale Chief of Staff Dr. Angela Huff Chief Financial Officer Brad Johnson Chief Academic Officer Amy Krause Chief Human Resources Officer Michael Shanahan xi (This page was left blank intentionally) Area 5 8th Grade Haley Greene McClure Middle School (This page was left blank intentionally) INDEPENDENT AUDITOR'S REPORT To the Superintendent and Members of the Cobb County Board of Education Marietta, Georgia Report on the Financial Statements 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, 2013, and the related notes to the financial statements, which collectively comprise the Cobb County Board of Education's basic financial statements as listed in the table of contents. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of the Cobb County Board of Education as of June 30, 2013, and the respective changes in financial position, and, where applicable, cash flows thereof and the budgetary comparison for the General Fund, for the year then ended in accordance with accounting principles generally accepted in the United States of America. Emphasis of Matter As discussed in Note 1, the Cobb County Board of Education implemented Governmental Accounting Standards Board (GASB) Statement No. 63, Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources and Net Position, as well as Statement No. 65, Items Previously Reported as Assets and Liabilities, as of July 1, 2012. Our opinions are not modified with respect to this matter. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the Management's Discussion and Analysis on pages 5 through 16 be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. 2 Other Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Cobb County Board of Education's basic 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, the SPLOST III schedule of expenditures of Special Purpose Local Option Sales Tax Projects, and the introductory and statistical sections are presented for purposes of additional analysis and are not a required part of the basic financial statements. The combining and individual nonmajor fund financial statements and schedules, 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 the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the 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 basic financial statements as a whole. The introductory and statistical sections have not been subjected to the auditing procedures applied in the audit of the basic financial statements, and accordingly, we do not express an opinion or provide any assurance on them. 3 Other Reporting Required by Governmental Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated December 6, 2013 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 in considering the Cobb County Board of Education's internal control over financial reporting and compliance. Atlanta, Georgia December 6, 2013 4 MANAGEMENT'S DISCUSSION AND ANALYSIS (This page was left blank intentionally) COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis JUNE 30, 2013 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, 2013. 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 2013 are as follows: Total net position increased from $1,454.7 million in 2012 to $1,483.5 million in 2013, an increase of $28.8 million. Total revenue decreased from $1,105.3 million in 2012 to $1,097.3 million in 2013, a decrease of $8 million. Revenue for 2013 was $28.8 million more than expenses. Total expenses decreased from $1,074.1 million in 2012 to $1,068.5 million in 2013, a decrease of $5.6 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 Position presents information on all of the District's assets and liabilities, with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating. 5 COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis JUNE 30, 2013 The Statement of Activities presents information showing how the District's net position changed during the most recent fiscal year. Changes in net position appear as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses appear in this statement for some items that will result in future fiscal period cash flows (e.g., uncollected taxes and earned but unused vacation leave). Fund Financial Statements A fund is a grouping of related accounts used to maintain control over resources that have been segregated for specific activities or objectives. The District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with financerelated legal requirements. District funds are in one of 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, and the Dental Insurance 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. 6 COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis JUNE 30, 2013 District-wide Financial Analysis The Condensed Statement of Net Position Table (Table I) below summarizes and compares the Statement of Net Position for 2013 and 2012. In 2013, the District's net position increased 2.0%, or $28.8 million, over the prior year due primarily to an increase in capital assets. Total current and other assets reflected a net increase of 1.6%, or $25.1 million, primarily due to an increase in total capital assets of 2.6%, or $32 million. Cash and cash equivalents increased in the General Fund by $0.2 million and decreased in Special Purpose Local Option Sales Tax (SPLOST) Funds and the other governmental funds by $10.3 million, $23.5 million, respectfully. Total receivables declined by $0.6 million, while inventories increased by $0.4 million. Capital assets increased by 2.6%, or $32 million, while total liabilities decreased by 3.2%, or $3.7 million, resulting in a modest increase in net position. The increase in capital assets was primarily attributable to the construction of a new school, Smyrna Elementary, and major capital improvements at Wheeler and Lassiter High Schools. 7 COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis JUNE 30, 2013 Table I Condensed Statement of Net Postion (Amounts Expressed In Millions) $70.8 $149.9 $14.1 $96.6 $1,262.8 Lon g-Term Liabilities Oth er Liabilities Net Investmen t in Capital Assets Res tricted Un restricted Governmental Activities As s e ts : Current and Other Assets Capital Assets Total Assets Liabilitie s : Long-Term Liabilities Other Liabilities Total Liabilities Net Position: Net Investment in Capital Assets Restricted Unrestricted Total Net Position 2012 $ 338.3 1,230.8 1,569.1 12.2 102.2 114.4 1,230.9 76.3 147.5 $ 1,454.7 2013 $ 331.4 1,262.8 1,594.2 14.1 96.6 110.7 1,262.8 70.8 149.9 $ 1,483.5 Change 2012-2013 -2.0% 2.6% 1.6% 15.6% -5.5% -3.2% 2.6% -7.2% 1.6% 2.0% 8 COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis JUNE 30, 2013 Changes in Net Position from Operating Results The Changes in Net Position from Operating Results Table (Table II) below summarizes and compares the Statement of Activities for 2013 and 2012. Revenues In 2013, the District's total revenues decreased 0.7%, or $8 million, over the prior year due primarily to a decrease in property tax revenue. Charges for services increased by 2.2%, or $1.3 million primarily due to a modest increase in leased property revenue from cell towers. Operating grants and contributions increased by 5.0%, or $24.1 million, primarily due to an instructional revenue increase of 4%, or $20.5 million, resulting from changes in healthcare funding and an increase in teacher retirement system contributions. General property taxes decreased 1.4%, or $7.2 million, due to the reduction of property values and an increase in property foreclosures. All other revenue sources decreased by 54.5%, or $3.6 million due to a one-time insurance settlement of $2.5 million in the prior fiscal year. Expenses In 2013, the District's total expenses decreased 0.5%, or $5.6 million, over the prior year due primarily to a decrease in the cost of providing school and administrative services. School and administrative services decreased 10.9%, or $19.1 million. SPLOST III expenditures decreased moving into the final phrase. Maintenance and operations increased 17.1%, or $10.3 million. This was largely due to the cost of furnishing new or replacement schools with new classroom furniture and equipment. Student transportation increased 4.9%, or $2.2 million due to increased fuel costs. Instruction increased by 0.5%, or $3.5 million mainly due to an increase in the Teacher Retirement System contribution rate. 9 COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis JUNE 30, 2013 Table II Changes in Net Position 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 2012 2013 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 Positon Beginning Net Position Ending Net Postion 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 2012 2012 2013 Interest & Fiscal Chrg Student Activites Maintenance Transportation School & Admin Serv Pupil & Instr Serv Instruction 2013 Change 2012-2013 $ 59.4 $ 60.7 478.9 505.0 30.8 7.3 528.5 1.1 6.6 1,105.3 521.3 3.0 1,097.3 682.2 81.5 175.7 44.7 60.1 29.8 0.1 1,074.1 685.7 80.4 156.6 46.9 70.4 28.5 1,068.5 31.2 1,423.5 28.8 1,454.7 $ 1,454.7 $ 1,483.5 2.2% 5.4% -76.3% -1.4% -100.0% -54.5% -0.7% 0.5% -1.3% -10.9% 4.9% 17.1% -4.4% 100.0% -0.5% -7.7% 2.2% 2.0% 10 COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis JUNE 30, 2013 Table III Net Cost of Governmental Activities (Amounts Expressed In Millions) Total and Net Costs of Services - 2013 $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 2012 2013 2012-2013 --Net Cost of Services-- Change 2012 2013 2012-2013 Instruction $ Pupil and Instructional Services School and Administrative Services Student Transportation Maintenance and Operations Other 682.2 $ 81.5 175.7 44.7 60.1 29.9 685.7 80.4 156.6 46.9 70.4 28.5 Total $ 1,074.1 $ 1,068.5 0.5% $ 241.5 $ 238.6 -1.3% 50.6 53.5 -10.9% 114.5 93.5 4.9% 39.0 41.3 17.1% 59.2 68.6 -4.7% 0.2 - -0.5% $ 505.0 $ 495.5 -1.2% 5.7% -18.3% 5.9% 15.9% -100.0% -1.9% 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 2013 was $1,068.5 million. Users of the District's programs financed $60.7 million of the costs. Federal and State grants, subsidized programs and contributions financed $512.3 million of the cost. District taxpayers financed the remaining costs of 2013 which totaled $495.5 million. 11 COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis JUNE 30, 2013 The School District's Funds The District ended fiscal year 2013 with a healthy fund balance in its governmental funds. The combined balance of all governmental funds, at $222.8 million, was 2.5% lower than 2012's ending balance of $228.6 million. SPLOST III fund balance increased by $15.5 million as expenditures slowed as we near the completion of the SPLOST III capital projects. The nonmajor governmental fund's fund balance decreased by $22.6 million, or 36.9% primarily due to decreases in SPLOST II and County-Wide Building by $21.8 million and, $2.4 million respectively. The reduction in SPLOST II was primarily attributable to a $20.3 million transfer of excess SPLOST II funds to the General Fund. County-Wide Building decreased due to the final reconstruction costs of Clarkdale Elementary. The General Fund's fund balance increased by $1.4 million, or 1.0%, due to a modest increase in State funding over the prior fiscal year. General Fund Budgetary Highlights The 2013 budget balanced the realities of the economic downturn being felt in every sector, and education is no exception. Georgia's slow economic recovery has not yielded an increase in the District's two primary revenue streams state funding and local property tax collections. Due to sound financial preplanning, the Fiscal Year 2013 Budget was developed using the most efficient and effective use of available resources. 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 $69.8 million, and $72.4 million, and $72.1 in fiscal years 2011, 2012, and 2013 respectively. The 2013 original budget for the General Fund was approved with $820.8 million in revenue and $849.0 million in expenditures, with the expectation of using $28.2 million in fund balance in order to balance the budget. During the course of the year, the board increased the revenue budget to $823.0 million to reflect updated estimates of state funding. Expenditures of the General Fund budget were increased to $863.2 million, in order to bring forward amounts for encumbrances from the prior year budget into the current year budget. For 2013, actual General Fund revenue was $12.7 million more than the final revised budget, a favorable variance of just 1.5% General Fund expenditures were $28.9 million less than the final revised budget, a favorable variance of only 3.3%. The ability to budget within such a low variance to actual is the result of careful examination of revenue and 12 COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis JUNE 30, 2013 expenditure 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. General Fund Balance The unassigned General Fund balance at June 30, 2013 was $75.3 million. This represents 33 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. SPLOST III focuses on revitalizing schools. Collections of the tax began on January 1, 2009. The SPLOST III fund had expenditures of $113.0 million and a fund balance of $48.7 million. A full listing of SPLOST III projects can be located on pages 90-91. Nonmajor Governmental Funds The Nonmajor Governmental Funds had aggregate expenditures of $152.5 million and aggregate fund balances of $38.8 million. SPLOST II fund had expenditures of $1.5 million for the year ended June 30, 2013 and a fund balance of $1.2 million. A full listing of remaining SPLOST II projects can be located on pages 90-91. The Board of Education will continue to address contingencies in 2014. Funds with the highest expenditures were School Nutrition at $51.9 million, Special Education at $20.4 million, Title I at $20.5 million, and Local School Funds at $28.5 million. Funds ending the year with the highest fund balances were School Nutrition at $22.8 million, Local School Funds at $8.1 million, and District-Wide Building at $1.6 million. The fund balance of Nonmajor Governmental Funds, in aggregate, decreased from $61.5 million in 2012 to $38.8 million in 2013, a decrease of $22.7 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 54. 13 COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis JUNE 30, 2013 Capital Assets and Debt Administration Capital Assets The Capital Assets, Net of Depreciation (Table IV) below summarizes and compares the capital assets for 2013 and 2012. Capital assets increased 2.6% from $1,230.9 million in 2012 to $1,262.8 million in 2013, an increase of $31.9 million. Buildings and Improvements increased by $90.8 million, or 9.4%, due to construction projects funded by SPLOST III. Equipment increased by $1.3 million, or 4.6%. Library books and textbooks decreased by $6.5 million, or 30.6%. More detailed information about capital assets can be found in Note 5 of the Notes to the Basic Financial Statements. 14 COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis JUNE 30, 2013 Table IV Capital Assets, Net of Depreciation (Amounts Expressed In Millions) Capital Assets, Net - 2013 $29.5 $17.0 $115.0 $46.3 $1,055.0 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 2012 2013 Change 2012-2013 $ 115.0 99.0 964.2 28.2 24.5 $ 1,230.9 $ 115.0 46.3 1,055.0 29.5 17.0 $ 1,262.8 -53.2% 9.4% 4.6% -30.6% 2.6% 15 COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis JUNE 30, 2013 Long-Term Obligations As of June 30, 2013, 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 9 and 12 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. We are very pleased that in March 2013, 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, 2014 and ending December 31, 2018. This continued source of revenue will allow the District to maintain and improve our school buildings and other capital assets. 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. 16 COBB COUNTY SCHOOL DISTRICT STATEMENT OF NET POSITION JUNE 30, 2013 (amounts expressed in thousands) ASSETS: Cash and Cash Equivalents Receivables (net of allowance for uncollectables): Taxes Federal and State Aid Accounts 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 Intergovermental Payables Accrued Salaries and Benefits Unearned Revenue Noncurrent Liabilities: Due Within One Year Due In More Than One Year Total Liabilities NET POSITION: Investment in Capital Assets Restricted for: Special Purpose Local Option Sales Tax II Special Purpose Local Option Sales Tax III School Nutrition Services Miscellaneous Grants Unrestricted Total Net Position See accompanying notes to the basic financial statements. Governmental Activities $ 233,606 21,435 72,710 1,153 87 2,435 114,970 46,330 1,665,669 114,086 97,051 (775,318) $ 1,594,214 33,814 9 62,120 658 4,853 9,287 110,741 1,262,788 1,178 48,682 20,924 20 149,881 $ 1,483,473 17 COBB COUNTY SCHOOL DISTRICT STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2013 (amounts expressed in thousands) GOVERNMENTAL ACTIVITIES Instruction Pupil Services Instructional Services School and Administrative Services Student Transportation Maintenance and Operations Student Activities Total Governmental Activities Expenses $ 685,671 27,093 53,389 156,481 46,888 70,437 28,525 $ 1,068,484 Program Revenues Charges for Services Operating Grants and Contributions Capital Grants and Contributions Net (Expense) Revenue and Changes in Net Position $ 1,101 $ 439,309 $ 10 23,594 - 2,886 29,104 33,483 - 5,547 1,842 - 28,608 - $ 60,665 $ 504,819 $ 6,696 $ 149 $ 298 $ 381 $ - $ - $ - $ 7,524 $ (238,565) (3,340) (50,205) (93,513) (41,341) (68,595) 83 (495,476) General Revenues: Taxes: Property Taxes Levied for General Purposes Sales Tax Interest Income Other 400,271 121,008 1,632 1,347 Total General Revenues 524,258 Change in Net Position Net Position-Beginning of Year 28,782 1,454,691 Net Position-End of Year $ 1,483,473 See accompanying notes to the basic financial statements. 18 COBB COUNTY SCHOOL DISTRICT BALANCE SHEET GOVERNMENTAL FUNDS JUNE 30, 2013 (amounts expressed in thousands) Assets: Cash and Cash Equivalents Receivables (net of allowance for uncollectables): Taxes Federal and State Aid Accounts Due from Other Funds Prepaids Inventories Total Assets General Special Purpose Local Option Sales Tax III Nonmajor Governmental Funds Total Governmental Funds $ 136,429 $ 61,068 $ 36,109 $ 233,606 11,309 59,488 1,135 7,079 87 587 $ 216,114 $ 10,119 1,497 72,684 $ 7 21,435 11,725 72,710 18 1,153 4,144 11,223 - 87 1,848 2,435 53,851 $ 342,649 LIABILITIES,DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES: Liabilities: Accounts Payable $ 8,320 $ Intergovernmental Payables - Accrued Payroll and Payroll Withholdings 42,227 Accrued Employee Benefits 13,793 Due to Other Funds 11,459 Unearned Revenue - Total Liabilities 75,799 24,002 $ - 24,002 1,172 $ 33,494 9 9 4,629 1,462 7,079 46,856 15,255 18,538 658 658 15,009 114,810 Deferred Inflows of Resources: Unavailable Revenue - Property Taxes Total Deferred Inflows of Resources 5,020 5,020 - 6 5,026 - 6 5,026 Fund Balances: Nonspendable Restricted Committed Assigned Unassigned Total Fund Balances Total Liabilities, Deferred Inflows of Resources, and Fund Balances 674 - 59,272 75,349 135,295 $ 216,114 $ 48,682 - 48,682 72,684 $ 1,848 2,522 22,122 70,804 12,577 12,577 2,289 - 61,561 75,349 38,836 222,813 53,851 $ 342,649 See accompanying notes to the basic financial statements. 19 COBB COUNTY SCHOOL DISTRICT RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET TO THE STATEMENT OF NET POSITION JUNE 30, 2013 (amounts expressed in thousands) Total Fund Balances-Governmental Funds Amounts reported for governmental activities in the statement of net position are different because: Capital assets used in governmental activities are not 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 unavailable in the funds. Internal service funds are used by management to charge the costs of insurance, The assets and liabilities of the internal service funds are included in governmental activities in the statement of net position. Long-term liabilities are not due and payable in the current period and therefore are not reported as liabilities in the funds. Long-term liabilities at year-end consist of: Compensated absences Total Net Position-Governmental Activities $ 222,813 2,038,106 (775,318) 1,262,788 5,026 577 (7,731) $ 1,483,473 See accompanying notes to the basic financial statements. 20 COBB COUNTY SCHOOL DISTRICT STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2013 (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 $ 397,592 415,168 12 1,562 1,383 1,011 816,728 $ 121,008 7,440 80 - 128,528 $ 4 89,650 56,076 75 - 3,194 336 149,335 $ 518,604 512,258 56,088 1,717 1,383 3,194 1,347 1,094,591 EXPENDITURES: Current: Instruction Pupil Services Instructional Services School and Administrative Services Student Transportation Maintenance and Operations Student Activities Capital Outlay Total Expenditures 595,444 17,502 37,135 77,821 41,897 58,294 6,659 834,752 8,795 104,273 113,068 33,069 5,565 14,357 65,650 1,777 1,179 28,525 2,414 152,536 628,513 23,067 51,492 152,266 43,674 59,473 28,525 113,346 1,100,356 Excess (deficiency) of Revenues Over (Under) Expenditures (18,024) 15,460 (3,201) (5,765) Other Financing Sources (Uses): Transfers-In Transfers-Out Proceeds from Sale of Capital Assets Total Other Financing Sources (Uses) 20,435 (1,507) 458 19,386 - 1,013 21,448 - (20,435) (21,942) - - 458 - (19,422) (36) Net Change in Fund Balances 1,362 15,460 (22,623) (5,801) Fund Balances, Beginning of Year, Restated 133,933 33,222 61,459 228,614 Fund Balances, End of Year $ 135,295 $ 48,682 $ 38,836 $ 222,813 See accompanying notes to the basic financial statements. 21 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, 2013 (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 considered as unavailable revenues in the governmental funds. The net effect of various miscellaneous transactions involving capital assets (i.e., sales and disposals) is to decrease net position. Internal service funds are used by management to charge the costs of insurance to individual funds. The net 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 decrease in compensated absences. $ (5,801) 113,346 (10,934) (62,715) 39,697 2,675 (7,762) (41) 14 Change in Net Position of Governmental Activities $ 28,782 See accompanying notes to the basic financial statements. 22 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, 2013 (amounts expressed in thousands) REVENUES: Local State Federal Other Total Revenues Budgeted Amounts Original Final Actual Amounts Variance With Final Budget - Positive (Negative) $ 405,063 $ 389,018 5,962 20,730 820,773 405,063 $ 391,228 5,962 20,730 822,983 401,452 $ 405,979 7,339 20,912 835,682 (3,611) 14,751 1,377 182 12,699 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 Operating Transfers Total Expenditures 607,927 17,551 22,444 14,440 7,823 50,952 4,085 59,541 45,774 15,915 68 18 2,489 849,027 614,470 17,954 23,637 14,521 7,890 51,163 4,253 60,897 48,405 17,452 68 18 2,489 863,217 594,693 17,462 23,914 13,914 7,812 51,992 4,838 58,405 46,244 13,464 69 6 1,507 834,320 19,777 492 (277) 607 78 (829) (585) 2,492 2,161 3,988 (1) 12 982 28,897 Net Change in Fund Balance Fund Balance, Beginning of Year, Restated (28,254) 133,933 (40,234) 133,933 1,362 133,933 41,596 - Fund Balance, End of Year $ 105,679 $ 93,699 $ 135,295 $ 41,596 See accompanying notes to the basic financial statements. 23 COBB COUNTY SCHOOL DISTRICT STATEMENT OF NET POSITION PROPRIETARY FUNDS JUNE 30, 2013 (amounts expressed in thousands) Assets: Current Assets: Due from Other Funds 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 Total Noncurrent Liabilities Net Position: Unrestricted Governmental Activities Internal Service Funds $ 7,315 7,315 320 1,890 8 1 2,219 4,519 4,519 $ 577 See accompanying notes to the basic financial statements. 24 COBB COUNTY SCHOOL DISTRICT STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITON PROPRIETARY FUNDS FOR THE YEAR ENDED JUNE 30, 2013 (amounts expressed in thousands) Governmental Activities OPERATING REVENUES: Charges for Services Internal Service Funds $ 5,267 OPERATING EXPENSES: School and Administrative Services 5,802 Operating Loss (535) Transfers-In 494 Change in Net Position (41) Total Net Position, Beginning of Year, Restated 618 Total Net Posiition, End of Year $ 577 See accompanying notes to the basic financial statements. 25 COBB COUNTY SCHOOL DISTRICT STATEMENT OF CASH FLOWS PROPRIETARY FUNDS FOR THE YEAR ENDED JUNE 30, 2013 (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 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 $ 5,105 (160) (4,842) (597) (494) 494 494 - $ - Reconciliation of Operating Loss to Net Cash Used in Operating Activities: Operating Loss Adjustments to Reconcile Operating Loss to Net Cash Used in Operating Activities: Increase in Due From Other Funds Decrease in Prepaids Increase in Claims Payable Increase in Accounts Payable Total Adjustments $ (535) (162) 10 100 93 41 Net Cash Used in Operating Activities $ (494) See accompanying notes to the basic financial statements. 26 COBB COUNTY SCHOOL DISTRICT STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES FIDUCIARY FUNDS JUNE 30, 2013 (amounts expressed in thousands) Assets: Cash and Cash Equivalents Total Assets Liabilities: Due to Student Groups Payroll Withholdings Payable Total Liabilities Agency Funds $ 28,968 $ 28,968 $ 1,086 27,882 $ 28,968 See accompanying notes to the basic financial statements. 27 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 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 61, there are no component units combined with the District for financial statement presentation purposes, and the District is not included in any other governmental reporting entity. B. Basis of Presentation: The District's basic financial statements are collectively comprised of the District-wide financial statements, fund financial statements and the notes to the basic financial statements of the Cobb County School District. District-wide Statements: The Statement of Net Position and the Statement of Activities display information about the financial activities of the overall District, 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. 28 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 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, and unemployment compensation 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. 29 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 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 30 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 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 position available to finance the program. It is the District's policy to first apply grant resources to such programs, followed by cost-reimbursement grants, then general revenues. Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses result from providing services. Operating revenues in the internal service funds are charges to customers for services. Operating expenses for internal service funds consist of the cost of services and administrative expenses. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. D. Cash and Cash Equivalents: The District's cash and cash equivalents are considered to be cash on hand, demand deposits and short-term investments with original maturities of three months or less from the date of acquisition in authorized financial institutions. Georgia Law OCGA 45-8-14 authorizes the District to deposit its funds in one or more solvent banks or insured Federal savings and loans associations. 31 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) E. Investments: Included in cash equivalents are items such as deposits with the Georgia local government investment pool and certificate of deposits. All of the District's investments as of June 30, 2013, were purchased with a maturity date less than one year from the date of purchase. These investments are stated at fair value. 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 32 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) the asset or revenue recognition criteria has been met. Federal and State Aid Receivables at June 30, 2013 were as follows: Federal Grants State Aid / Grants Federal and State General Fund $ - 59,488,000 $ 59,488,000 Special Purpose Local Option Sales Tax III $ - 1,497,000 $ 1,497,000 Nonmajor Governmental $ 10,574,000 1,151,000 $ 11,725,000 Total $ 10,574,000 62,136,000 $ 72,710,000 G. Property Taxes: The Cobb County Board of Commissioners fixed the property tax levy for the 2012 tax digest year (calendar year) in July 2012 (levy date) based on property values as of January 1, 2012. Taxes were due on October 15, 2012 (lien date). Taxes collected within the current fiscal year or within 60 days after year-end on the 2012 tax digest are reported as revenue in the governmental funds for fiscal year 2013. 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, 2013 totaled $397,596,000. 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 2012 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 $276,906,238 has been collected or on December 31, 2013, whichever occurs first. 33 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 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. 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: General Useful Policy Life Land All N/A Buildings and Improvements All 20 to 50 Years Equipment Intangible Assets $10,000 $1,000,000 5 to 10 Years 10 Years Library Books and Textbooks All 5 Years Depreciation expense is used to allocate the actual or estimated historical cost of all capital assets over estimated useful lives. 34 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) K. Deferred Outflows/Inflows of Resources The Cobb County School District implemented the Governmental Accounting Standards Board (GASB) Statement Number 63, Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources and Net Position and Statement Number 65, Items Previously Reported as Assets and Liabilities, as of July 1, 2012. The provisions of these Statements establish financial reporting standards for the presentation of deferred outflows of resources and deferred inflows of resources and their effects on a government's net position. Deferred outflows of resources represent a consumption of net position that applies to a future period (s) and so will not be recognized as an outflow of resources (expenses/ expenditures) until then. Cobb County School District has no items that qualify for reporting in this category. Deferred inflows of resources represent an acquisition of net position that applies to a future period (s) and so will not be recognized as an inflow of resources (revenue) until that time. Cobb County School District has one type of item, which arises only under a modified accrual basis of accounting, that qualifies for reporting in this category. Accordingly, the item, unavailable revenue, is reported only in the governmental funds balance sheet. Governmental funds report unavailable revenues from one source: property taxes. This amount is deferred and recognized as an inflow of resources in the period that the amounts become available. L. Net Position: The School District's net position in the District-wide Statements are classified as follows: Investment in capital assets This represents the School District's total investment in capital assets, net of outstanding debt obligations, as applicable, related to those capital assets. To the extent debt has been incurred but not yet expended for capital assets, such amounts are not included as a component of net investment in capital assets. Restricted net position These represent resources for which the School District is legally or contractually obligated to spend resources for capital projects and support of Federal Programs in accordance with restrictions imposed by external third parties. Unrestricted net position Unrestricted net position represents resources derived from property taxes, sales, taxes, grants and contributions not restricted to specific programs, charges for services, and miscellaneous revenues. These resources are used for transactions relating to the educational and general operations of the School District, and may be used at the discretion of the Board to meet current expenses for those purposes. 35 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) M. Changes in Reporting Entity: For fiscal year 2013, the School District decided to eliminate the Flexible Benefits Fund and the Purchasing/Warehouse Fund. The result was an increase in fund balance at July 1, 2012, of $547,000 in the General Fund and a decrease in net position at July 1, 2012 of $358,000 and $189,000 for the Flexible Benefits Fund and the Purchasing/Warehouse Fund, respectively. The School District felt that accounting for this activity in the General Fund was a better presentation of these transactions. Therefore, all assets, liabilities, revenues, expenses, and equity amounts were transferred to the General Fund as of July 1, 2012 and the two internal service funds were eliminated. These changes are in accordance with generally accepted accounting principles. Fund Balance, General Fund, July 1, 2012, as previously reported Elimination of Internal Service Funds Fund Balance, General Fund, July 1, 2012, as restated $133,386,000 547,000 $133,933,000 Net Position, Flexible Benefits, July 1, 2012, as previously reported Elimination of Internal Service Funds Net Position, Flexible Benefits, July 1, 2012, as restated $ 358,000 358,000 $ - Net Position, Purchasing Warehouse, July 1, 2012, as previously reported Elimination of Internal Service Funds Net Posiition, Purchasing Warehouse, July 1, 2012, as restated $ 189,000 189,000 $ - N. Fund Balance: Fund equity at the governmental fund financial reporting level is classified as "fund balance". Fund equity for all other reporting is classified as "net position". Generally, fund balance represents the difference between the assets, liabilities, and deferred inflows of resources under the current financial resources measurement focus of accounting. In the fund financial statements, governmental funds report fund balance classifications that comprise a hierarchy based primarily on the extent to which the District is bound to honor constraints on the specific purposes for which amounts in those funds can be spent. The 36 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) District's fund balances per Cobb County School District Board Policy DI, Acounting and Reporting, 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 action of the Board of Education through a majority vote on June 8, 2011. 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. Committed Fund Balances The Board of Education, as the government's highest level of decision-making authority, may commit fund balance by a formal action through the approval of a motion and 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, on June 8, 2011, committed substantially all of the 37 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 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, through resolution, delegates to the Superintendent, through the Chief Financial Officer, the authority to assign funds for particular purposes. Spending Prioritization When expenditures are incurred by the District that would qualify for payment with either restricted or unrestricted funds, 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 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 38 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Schedule of Fund Balances Fund Balances: Special Purpose Nonmajor Local Option Governmental General Fund Sales Tax III Funds Total Nonspendable: Inventory Prepaids $ 587,000 87,000 $ 1,848,000 $ 2,435,000 Restricted for: Capital Projects Capital Projects School Nutrition Miscellanous Grants 48,682,000 1,178,000 20,924,000 20,000 48,682,000 1,178,000 20,924,000 20,000 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 8,109,000 2,349,000 831,000 1,020,000 144,000 124,000 8,109,000 2,349,000 831,000 1,020,000 144,000 124,000 Assigned to: Appropriation for Next Year's Budget Instruction Pupil Services Instructional Services School and Administrative Services Maintenance and Operations District-Wide Building Student Information Systems Psycho Ed 50,535,000 2,521,000 275,000 2,186,000 2,710,000 1,045,000 1,563,000 396,000 330,000 50,535,000 2,521,000 275,000 2,186,000 2,710,000 1,045,000 1,563,000 396,000 330,000 Unassigned: 75,349,000 75,349,000 Total Fund Balance $ 135,295,000 $ 48,682,000 $ 38,836,000 $ 222,813,000 39 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 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. The District does not budget for other financing sources and uses, but rather budgets those as revenues and current expenditures of the funds. Appropriations not spent or encumbered lapse at year-end and encumbrances outstanding at that time are rebudgeted in the following fiscal year. Budget amendments 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, 2013. For the year ended June 30, 2013, expenditures exceeded appropriations in several function areas (the legal level of budgetary control). These over-expenditures were offset by underexpenditures in other function areas within the same fund, or by revenues collected in excess of budgeted collections. The over-expenditures are identified in the following schedule: General Fund: Improvement of Instrutional Services $ School Administration Business Services Community Service Operations Tuition Schools/Adult High School Fund: Pupil Services ( I 3 ) Investing in Innovation Fund: Student Transportation Psycho Education Center: Instruction Special Education: Instruction Student Transportation Vocational Education Fund: Instruction 277,000 829,000 585,000 1,000 2,000 1,000 23,000 314,000 24,000 19,000 40 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 Note 3. CASH EQUIVALENTS, DEPOSITS AND INVESTMENTS COLLATERALIZATION OF DEPOSITS Official Code of Georgia Annotated (OCGA) Section 45-8-12 provides that there shall not be on deposit at any time in any depository for a time longer than ten days a sum of money which has not been secured by surety bond, by guarantee of insurance or by collateral. The aggregate of the face value of such surety bond and the 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. 41 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 Note 3. 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, 2013, the District had deposits with a carrying amount of $262,574,400 and a bank balance of $266,259,112. 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, 2013, the District's investments included $230 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 43 days. In addition the District had $423,676 in certificate of deposit in various financial institutions. 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. The District's investment in Georgia Fund One, the State of Georgia Investment Pool, was rated AAAf by Standard & Poor's. The Office of the State Treasurer is the oversight agency for Georgia Fund One. 42 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 Note 3. CASH EQUIVALENTS, DEPOSITS AND INVESTMENTS (Continued) 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 an 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 $1 per share. As of June 30, 2013, 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. Note 4. NON-MONETARY TRANSACTIONS: The District received food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. See Note 1 Inventories 43 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 Note 5. 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 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 Balance June 30, 2012 $ 114,970,000 99,033,000 214,003,000 1,529,315,000 112,657,000 96,591,000 1,738,563,000 565,139,000 84,491,000 72,083,000 721,713,000 1,016,850,000 $ 1,230,853,000 Increases Decreases Balance June 30, 2013 $ -$ - $ 114,970,000 82,917,000 82,917,000 (135,620,000) (135,620,000) 46,330,000 161,300,000 136,354,000 15,974,000 2,787,000 155,115,000 (14,545,000) (2,327,000) (16,872,000) 1,665,669,000 114,086,000 97,051,000 1,876,806,000 45,542,000 - 610,681,000 6,916,000 (6,783,000) 84,624,000 10,257,000 (2,327,000) 80,013,000 62,715,000 (9,110,000) 775,318,000 92,400,000 (7,762,000) 1,101,488,000 $ 175,317,000 $ (143,382,000) $ 1,262,788,000 Current year depreciation expense by function for governmental activities is as follows: Instruction $ Pupil Services Instructional Services School and Administrative Services Pupil Transportation Maintenance and Operations $ 49,868,000 4,026,000 1,897,000 3,680,000 3,214,000 30,000 62,715,000 44 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 Note 6. INTERFUND ASSETS AND LIABILITIES: Interfund receivable and payable balances result from the time lag between the dates that (1) interfund goods and services are provided or reimbursable expenditures occur, (2) transactions are recorded in the accounting system, and (3) payments between funds are made. All interfund balances will be paid within one year. Interfund receivable and payable balances by fund as of June 30, 2013 are disclosed in the following schedule: Governmental Funds: General Fund Nonmajor Governmental Funds: ( i 3 ) Investing in Innovation Adult Education Psycho Education Title I Special Education Vocational Education Title II Homeless Title III Title IV Local Schools Total Nonmajor Governmental Funds Proprietary Funds: Unemployment Compensation Fund Self-Insurance Fund Total Proprietary Funds Total Re ceivable $ 7,079,000 4,144,000 4,144,000 456,000 6,859,000 7,315,000 $ 18,538,000 Payable $ 11,459,000 485,000 314,000 496,000 3,192,000 1,029,000 344,000 587,000 6,000 248,000 378,000 7,079,000 $ 18,538,000 45 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 Note 7. INTERFUND TRANSFERS: Interfund transfers are used to (1) move revenues from the fund that statute or budget requires to collect them to the fund that statute or budget requires to expend them and (2) to use unrestricted revenues in the general fund to finance various programs accounted for in other funds in accordance with budgetary authorizations. Interfund transfers for the year ended June 30, 2013, 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 Facility Use / Public Safety Fund Total Nonmajor Governmental Funds Transfers In: Facility Use / Public Safety Fund Performing Arts / Artist at School Fund Tuition School / Adult High School Fund Self-Insurance Fund General Fund General Fund General Fund Total for All Funds Amount 790,000 7,000 216,000 494,000 1,507,000 5,000 20,270,000 160,000 20,435,000 $ 21,942,000 46 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 Note 8. 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 $1,890,000 and the non-current liability for succeeding years is $4,519,000. In the past, the amount of any insurance settlements has not exceeded the insurance coverage for the past three years. 2012 2013 Estimated Unpaid Claims at Beginning of Fiscal Year $ 5,912,000 $ 6,309,000 Claims and Changes in Estimates $ 3,534,000 $ 2,721,000 Claim Payments Estimated Unpaid Claims at End of Fiscal Year $ (3,137,000) $ 6,309,000 $ (2,621,000) $ 6,409,000 Note 9. LONG-TERM OBLIGATIONS: Fiscal year 2013 long-term obligations are as follows: Accrued Vacation Pay Total Balance 6/30/2012 $ 7,745,000 $ $ 7,745,000 $ Added 2,954,000 $ 2,954,000 $ Retired Balance 6/30/2013 Currert Amounts Long-term Due Within One Amounts Due Year After One Year (2,968,000) $ 7,731,000 $ 2,963,000 $ 4,768,000 (2,968,000) $ 7,731,000 $ 2,963,000 $ 4,768,000 Accrued vacation pay is generally liquidated by the General Fund. 47 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 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, 2013 was $61,013,686. 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, 2013 included a 9th grade addition to one high school, and additions and renovations at two middle schools. As of June 30, 2013, the contract price and expenditures to date for the largest projects were as follows: Projects Contract Price Expenditures To Date Addition/Renovations Campbell MS $ 4,707,885 Addition/Renovations Garrett MS 9th Grade Addition Harrison HS 9,266,197 15,760,187 $ 3,360,704 8,841,675 10,228,107 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, 2013, 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. 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. 48 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 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 6.00 percent of their annual covered payroll and the District is required to contribute 11.41 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, 2013, 2012 and 2011 were $63,010,753, $58,155,546, and $57,920,356 respectively, which were equal to the required contribution for each year. 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 ten 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. 49 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 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. 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 twenty-seven percent (27%) 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. 50 COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2013 Note 14. POSTEMPLOYMENT BENEFITS (Continued): 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, 2013: Certified employees July 2012 - February 2013 March 2013 - June 2013 Non-Certificated Employees July 2012 - June 2013 $912.34 per member per month $937.34 per member per month $446.20 per member per month No additional contribution was required by the Board for fiscal year 2013 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 2013 2012 2011 Contribution $91,313,591 $81,239,085 $84,335,948 Contribution 100% 100% 100% 51 (This page was left blank intentionally) 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 Tuition School/Adult High 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. 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. 52 Miscellaneous Grants School Nutrition (i3) Investing in Innovation 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 passed through Georgia State University which support local efforts by providing high quality teachers to improve student achievement. 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. 53 USDA Fruits and Vegetables Title III This fund is established to provide accounting of federal grant funds which flow through the Georgia Department of Education Food and Nutrition Program. The funds provide free fresh fruits and vegetables to school children outside of the lunch or breakfast food service periods. This fund is established to provide accounting of federally funded grants for programs that support Limited English Proficiency (LEP) students and their families, through language instructional programs. These programs include community participation programs, family literacy services, parent outreach and training activities to improve the English language skills of limited English proficient children and assistance for parents in helping their children to improve their academic achievement. Title IV Local School Funds 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. 54 COBB COUNTY SCHOOL DISTRICT COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2013 (amounts expressed in thousands) ASSETS: Cash and Cash Equivalents Taxes Receivable Federal and State Aid Receivable Accounts Receivable Due From Other Funds Inventories Total Assets Special Revenue Donations Facility Use/ Public Safety After School Program Performing Arts/ Artist at School Program $ 127 $ 1,041 $ 2,361 $ 144 - - - - - - - - - - - - - - - - - - - - $ 127 $ 1,041 $ 2,361 $ 144 LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES: Liabilities: Accounts Payable Intergovernmental Payables Accrued Payroll and Payroll Withholdings Accrued Employee Benefits Due to Other Funds Unearned Revenue Total Liabilities Deferred Inflows of Resources: Unavailable Revenue - Property Taxes Total Deferred Inflows of Resources Fund Balances: Nonspendable Restricted Committed Assigned Total Fund Balances Total Liabilities, Deferred Inflows of Resources, and Fund Balances $ 3$ -$ 12 $ - - - - - - 19 - - - 2 - - - - - - - - - - 3 21 12 - - - - - - - - - - - - - - - - - 124 1,020 2,349 144 - - - - 124 1,020 2,349 144 $ 127 $ 1,041 $ 2,361 $ 144 55 Tuition School/ Adult High School Misc. Grants Special Revenue School Nutrition (i3) Investing in Innovation Adult Education Psycho Education Center $ 1,116 $ - $ 1,116 $ 2 $ 24,111 $ - - 51 - - 18 - - - 1,848 53 $ 25,977 $ -$ 490 - 490 $ -$ - - - 323 1,133 - - - - - - 323 $ 1,133 $ 14 $ 21 $ 314 $ - - - 241 10 1,592 30 2 641 - - - - - 658 285 33 3,205 -$ 5$ 3 5 2 - - 2 229 - - 75 485 314 496 - - - 490 323 803 - - - - - - 831 - 831 $ 1,116 $ - 1,848 20 20,924 - - - - 20 22,772 53 $ 25,977 $ - - - - - - - - 490 $ - - - - - - - 330 - 330 323 $ 1,133 Continued--- 56 COBB COUNTY SCHOOL DISTRICT COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2013 (amounts expressed in thousands) ASSETS: Cash and Cash Equivalents Taxes Receivable Federal and State Aid Receivable Accounts Receivable Due From Other Funds Inventories Total Assets LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES: Liabilities: Accounts Payable Intergovernmental Payables Accrued Payroll and Payroll Withholdings Accrued Employee Benefits Due to Other Funds Unearned Revenue Total Liabilities Deferred Inflows of Resources: Unavailable Revenue - Property Taxes Total Deferred Inflows of Resources Fund Balances: Nonspendable Restricted Committed Assigned Total Fund Balances Total Liabilities, Deferred Inflows of Resources, and Fund Balances Special Revenue Title I Special Vocational Education Education Title II $ -$ -$ -$ - - - - - 4,958 2,607 351 902 - - - - - - - - - - - - $ 4,958 $ 2,607 $ 351 $ 902 $ 335 $ 2 13 $ - 1 $ 121 - - 1,130 1,179 6 177 299 386 - 17 3,192 1,029 344 587 - - - - 4,958 2,607 351 902 - - - - - - - - - - - - - - - - - - - - - - - - - - - - $ 4,958 $ 2,607 $ 351 $ 902 57 Homeless Grant Special Revenue USDA Fruits and Vegetables Title III Title IV Local School Funds $ -$ -$ -$ - $ 3,965 - - - - - 8 - 278 624 - - - - - - - - - - 4,144 - - - - - $ 8$ - $ 278 $ 624 $ 8,109 $ -$ -$ - $ 233 $ - - - - - - - 1 - 24 11 - 1 - 6 2 - 6 - 248 378 - - - - - - 8 - 278 624 - - - - - - - - - - - - - - - - - - - - - - - - - 8,109 - - - - - - - - - 8,109 $ 8$ - $ 278 $ 624 $ 8,109 Continued--- 58 COBB COUNTY SCHOOL DISTRICT COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2013 (amounts expressed in thousands) ASSETS: Cash and Cash Equivalents Taxes Receivable Federal and State Aid Receivable Accounts Receivable Due From Other Funds Inventories Total Assets LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES: Liabilities: Accounts Payable Intergovernmental Payables Accrued Payroll and Payroll Withholdings Accrued Employee Benefits Due to Other Funds Unearned Revenue Total Liabilities Deferred Inflows of Resources: Unavailable Revenue - Property Taxes Total Deferred Inflows of Resources Fund Balances: Nonspendable Restricted Committed Assigned Total Fund Balances Total Liabilities, Deferred Inflows of Resources, and Fund Balances Districtwide Building Capital Projects Special Purpose Local Option Sales Tax II Student Information Systems Total $ 1,606 $ - $ 1,606 $ 1,241 $ - 1,241 $ 395 $ 7 - 402 $ 36,109 7 11,725 18 4,144 1,848 53,851 $ 43 $ - - 43 - 1,563 1,563 $ 1,606 $ 54 $ - 8 1 63 -$ - - 1,172 9 4,629 1,462 7,079 658 15,009 - 6 6 - 6 6 1,178 - 1,178 1,241 $ 396 396 402 $ 1,848 22,122 12,577 2,289 38,836 53,851 Concluded. 59 (This page was left blank intentionally) COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2013 (amounts expressed in thousands) REVENUES: Taxes Intergovernmental Tuition and Fees Interest Income Athletic Ticket Sales Other Total Revenues Donations $ - - - - - 27 27 Special Revenue Facility Use/ After Public School Safety Program Performing Arts/Artist at School Program $ -$ -$ - - - - 1,228 7,918 316 - - - - - - - - 2 1,228 7,918 318 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 Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, Beginning of Year 4 - 722 348 2 - - - 6 - - - 18 493 6,530 - - - - - - 1,160 - - - - - - 36 - 50 - 66 1,653 7,302 348 (39) (425) 616 (30) - 790 - 7 - (160) - - - 630 - 7 (39) 205 616 (23) 163 815 1,733 167 Fund Balances, End of Year $ 124 $ 1,020 $ 2,349 $ 144 60 Tuition School/ Adult High School $ - - 857 - - - 857 Misc. Grants $ - 338 - - - 19 357 Special Revenue School Nutrition (i3) Investing in Innovation $ -$ - 32,339 495 20,343 - 53 - - - 14 - 52,749 495 Adult Education $ - 968 - - - 10 978 Psycho Education Center $ - 5,554 - - - 37 5,591 786 2 97 346 - 1,231 87 - 17 - 233 - - 51,478 - - - - - - - 405 337 51,883 (374) 20 866 216 - 216 (158) 989 $ 831 $ - - - - - - 20 866 - 21,906 20 $ 22,772 $ - - 4,103 - - 1,119 5 - 298 - 978 60 - - 20 - - 4 - - - 490 - - 495 978 5,604 - - -$ - (13) - - - - - - - (13) - 343 -$ 330 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, 2013 (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 Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, Beginning of Year Fund Balances, End of Year Title I Special Vocational Education Education Title II $ -$ -$ 20,491 20,398 - - - - - - - - 20,491 20,398 -$ - 790 2,886 - - - - - - - - 790 2,886 10,589 224 7,644 1,728 281 25 20,491 14,997 1,498 2,022 687 1,194 20,398 446 - - - 201 2,856 8 26 - - - - - - 135 4 790 2,886 - - - - - - - - - - - - - - - - - - - - - - - - $ -$ -$ -$ - 62 Special Revenue Homeless Grant USDA Fruit and Vegetables Title III Title IV Local School Funds $ -$ -$ -$ -$ - 55 176 1,193 3,967 - - - - - 25,414 - - - - 10 - - - - 3,194 - - - - - 55 176 1,193 3,967 28,618 2 - 30 955 - - - 321 2,382 - 34 - 755 206 - 19 176 58 144 - - - 29 253 - - - - 15 - - - - - 28,525 - - - 12 - 55 176 1,193 3,967 28,525 - - - - 93 - - - - - - - - - - - - - - - - - - - 93 - - - - 8,016 $ -$ -$ -$ - $ 8,109 Continued--- 63 COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2013 (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 Total $ -$ - - 6 - 227 233 -$ 5 5 4$ 4 - 89,650 - 56,076 1 75 - 3,194 - 336 5 149,335 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 Total Other Financing Sources (Uses) Net Change in Fund Balances Fund Balances, Beginning of Year - 1,467 - 1,201 2,668 (2,435) - (2,435) 3,998 - 1,434 - 56 1,490 (1,485) (20,270) (20,270) (21,755) 22,933 - 33,069 - 5,565 - 14,357 - 65,650 - 1,777 - 1,179 - 28,525 - 2,414 - 152,536 5 (3,201) - 1,013 (5) (20,435) (5) (19,422) - (22,623) 396 61,459 Fund Balances, End of Year $ 1,563 $ 1,178 $ 396 $ 38,836 Concluded. 64 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, 2013 (amounts expressed in thousands) REVENUES: Local Total Revenues Budgeted Amounts Original Final Actual Amounts $ 27 $ 27 $ 27 27 27 27 Variance With Final Budget - Positive (Negative) $ - - EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services General Administration School Administration Central Operations Total Expenditures 8 8 13 13 17 17 1 1 7 7 136 136 182 182 4 4 2 11 6 11 1 - - 7 53 83 66 116 Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year (155) (155) (39) 116 163 163 163 - $ 8$ 8$ 124 $ 116 65 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, 2013 (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 $ 1,228 790 790 790 2,026 2,026 2,018 1,350 676 2,026 1,350 676 2,026 1,160 653 1,813 Variance With Final Budget - Positive (Negative) $ (8) - (8) 190 23 213 Net Change in Fund Balance Fund Balance, Beginning of Year - - 205 205 815 815 815 - Fund Balance, End of Year $ 815 $ 815 $ 1,020 $ 205 66 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, 2013 (amounts expressed in thousands) REVENUES: Local Total Revenues Budgeted Amounts Original Final Actual Amounts $ 7,221 $ 7,221 $ 7,918 7,221 7,221 7,918 Variance With Final Budget - Positive (Negative) $ 697 697 EXPENDITURES: Instruction Community Service Operations Total Expenditures 724 724 722 2 6,497 6,977 6,580 397 7,221 7,701 7,302 399 Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year - (480) 616 1,096 1,733 1,733 1,733 - $ 1,733 $ 1,253 $ 2,349 $ 1,096 67 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, 2013 (amounts expressed in thousands) REVENUES: Local Other Total Revenues Budgeted Amounts Original Final Actual Amounts $ 372 $ 372 $ 318 7 7 7 379 379 325 Variance With Final Budget - Positive (Negative) $ (54) - (54) EXPENDITURES: Instruction Total Expenditures 379 379 348 31 379 379 348 31 Net Change in Fund Balance - - (23) (23) Fund Balance, Beginning of Year 167 167 167 - Fund Balance, End of Year $ 167 $ 167 $ 144 $ (23) 68 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, 2013 (amounts expressed in thousands) REVENUES: Local Other Total Revenues Budgeted Amounts Original Final Actual Amounts $ 949 $ 1,060 $ 857 216 216 216 1,165 1,276 1,073 Variance With Final Budget - Positive (Negative) $ (203) - (203) EXPENDITURES: Instruction 649 920 786 134 Pupil Services - - 2 (2) Improvement of Instructional Services 120 121 88 33 Educational Media Services 22 22 9 13 School Administration 69 69 27 42 Community Services Operations 305 351 319 32 Total Expenditures 1,165 1,483 1,231 252 Net Change in Fund Balance - (207) (158) 49 Fund Balance, Beginning of Year 989 989 989 - Fund Balance, End of Year $ 989 $ 782 $ 831 $ 49 69 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, 2013 (amounts expressed in thousands) REVENUES: Local State Federal Total Revenues Budgeted Amounts Original Final Actual Amounts Variance With Final Budget - Positive (Negative) $ -$ 36 $ 19 $ (17) - 8 6 (2) 269 417 333 (84) 269 461 358 (103) EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services General Administration Other Support Services Total Expenditures - 143 87 56 45 22 18 4 223 295 233 62 1 - - - - 1 - 1 269 461 338 123 Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year $ -$ - 20 20 - - - -$ 20 $ 20 70 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, 2013 (amounts expressed in thousands) REVENUES: Local State Federal Other Total Revenues Budgeted Amounts Original Final Actual Amounts $ 22,219 $ 22,219 $ 20,394 1,230 1,230 1,279 27,766 27,766 31,060 19 19 16 51,234 51,234 52,749 Variance With Final Budget - Positive (Negative) $ (1,825) 49 3,294 (3) 1,515 EXPENDITURES: School Nutrition Program Total Expenditures 52,987 52,987 53,193 53,193 51,883 51,883 1,310 1,310 Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year (1,753) (1,959) 866 21,906 21,906 21,906 $ 20,153 $ 19,947 $ 22,772 $ 2,825 - 2,825 71 COBB COUNTY SCHOOL DISTRICT (I3) INVESTING IN INNOVATION FUND - 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, 2013 (amounts expressed in thousands) REVENUES: Federal Total Revenues Budgeted Amounts Original Final Actual Amounts $ 495 $ 495 $ 495 495 495 495 Variance With Final Budget - Positive (Negative) $ - - EXPENDITURES: Improvement of Instructional Services 6 6 5 1 Student Transportation 489 489 490 (1) Total Expenditures 495 495 495 - Net Change in Fund Balance - - - - Fund Balance, Beginning of Year - - - - Fund Balance, End of Year $ -$ -$ -$ - 72 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, 2013 (amounts expressed in thousands) REVENUES: State Federal Other Sources Total Revenues Budgeted Amounts Original Final Actual Amounts $ 410 $ 375 $ 375 642 598 593 - 10 10 1,052 983 978 Variance With Final Budget - Positive (Negative) $ - (5) - (5) EXPENDITURES: Community Service Operations Total Expenditures 1,052 983 978 5 1,052 983 978 5 Net Change in Fund Balance Fund Balance, Beginning of Year - - - - - - - - Fund Balance, End of Year $ -$ -$ -$ - 73 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, 2013 (amounts expressed in thousands) REVENUES: State Federal Other Total Revenues Budgeted Amounts Original Final Actual Amounts $ 5,140 $ 5,057 $ 5,055 450 570 500 37 56 36 5,627 5,683 5,591 Variance With Final Budget - Positive (Negative) $ (2) (70) (20) (92) EXPENDITURES: Instruction 4,014 4,080 4,103 (23) Pupil Services 1,166 1,199 1,120 79 Improvement of Instructional Services 323 311 296 15 General Administration 51 50 50 - School Administration 5 4 4 - Business Services Maintenance and Operation of Plant Student Transportation 8 7 7 - 36 8 4 4 24 24 20 4 Total Expenditures 5,627 5,683 5,604 79 Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year - - (13) (13) 343 343 343 - $ 343 $ 343 $ 330 $ (13) 74 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, 2013 (amounts expressed in thousands) REVENUES: Federal Total Revenues EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services General Administration Student Transportation Other Support Services Total Expenditures Budgeted Amounts Original Final Actual Amounts $ 18,340 $ 28,008 $ 20,491 18,340 28,008 20,491 10,268 326 4,140 655 1,135 1,816 18,340 14,209 311 9,626 798 677 2,387 28,008 10,589 224 7,276 553 282 1,567 20,491 Variance With Final Budget - Positive (Negative) $ (7,517) (7,517) 3,620 87 2,350 245 395 820 7,517 Net Change in Fund Balance - - - - Fund Balance, Beginning of Year - - - - Fund Balance, End of Year $ -$ -$ -$ - 75 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, 2013 (amounts expressed in thousands) REVENUES: Federal Total Revenues Budgeted Amounts Original Final Actual Amounts $ 18,992 $ 25,055 $ 20,398 18,992 25,055 20,398 Variance With Final Budget - Positive (Negative) $ (4,657) (4,657) EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services General Administration Student Transportation Total Expenditures 9,610 4,747 3,167 306 1,162 18,992 14,683 5,129 3,170 903 1,170 25,055 14,997 1,498 2,022 687 1,194 20,398 (314) 3,631 1,148 216 (24) 4,657 Net Change in Fund Balance Fund Balance, Beginning of Year - - - - - - - - Fund Balance, End of Year $ -$ -$ -$ - 76 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, 2013 (amounts expressed in thousands) REVENUES: Federal Total Revenues Budgeted Amounts Original Final Actual Amounts $ 638 $ 802 $ 790 638 802 790 Variance With Final Budget - Positive (Negative) $ (12) (12) EXPENDITURES: Instruction Improvement of Instructional Services General Administration Total Expenditures 417 556 575 (19) 210 237 207 30 11 9 8 1 638 802 790 12 Net Change in Fund Balance Fund Balance, Beginning of Year - - - - - - - - Fund Balance, End of Year $ -$ -$ -$ - 77 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, 2013 (amounts expressed in thousands) REVENUES: Federal Total Revenues Budgeted Amounts Original Final Actual Amounts $ 2,257 $ 4,279 $ 2,886 2,257 4,279 2,886 Variance With Final Budget - Positive (Negative) $ (1,393) (1,393) EXPENDITURES: Improvement of Instructional Services General Administration Total Expenditures 2,225 32 2,257 4,040 239 4,279 2,832 54 2,886 1,208 185 1,393 Net Change in Fund Balance Fund Balance, Beginning of Year - - - - - - - - Fund Balance, End of Year $ -$ -$ -$ - 78 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, 2013 (amounts expressed in thousands) REVENUES: Federal Total Revenues Budgeted Amounts Original Final Actual Amounts $ 56 $ 64 $ 55 56 64 55 Variance With Final Budget - Positive Negative) $ (9) (9) EXPENDITURES: Instruction General Administration Student Transportation Total Expenditures 2 2 2 - 39 42 34 8 15 20 19 1 56 64 55 9 Net Change in Fund Balance - - - - Fund Balance, Beginning of Year - - - - Fund Balance, End of Year $ -$ -$ -$ - 79 COBB COUNTY SCHOOL DISTRICT USDA-FRESH FRUITS & VEGETABLES-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2013 (amounts expressed in thousands) REVENUES: Federal Total Revenues Budgeted Amounts Original Final Actual Amounts $ 177 $ 177 $ 176 177 177 176 Variance With Final Budget - Positive (Negative) $ (1) (1) EXPENDITURES: School Nutrition Total Expenditures 177 177 176 1 177 177 176 1 Net Change in Fund Balance - - - - Fund Balance, Beginning of Year - - - - Fund Balance, End of Year $ -$ -$ -$ - 80 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, 2013 (amounts expressed in thousands) REVENUES: Federal Total Revenues Budgeted Amounts Original Final Actual Amounts $ 1,392 $ 1,878 $ 1,193 1,392 1,878 1,193 Variance With Final Budget - Positive (Negative) $ (685) (685) EXPENDITURES: Instruction 136 166 30 136 Pupil Services 284 429 321 108 Improvement of Instructional Services 944 1,091 728 363 General Administration 28 34 27 7 Student Transportation - 45 30 15 Other Support Services - 113 57 56 Total Expenditures 1,392 1,878 1,193 685 Net Change in Fund Balance - - - - Fund Balance, Beginning of Year - - - - Fund Balance, End of Year $ -$ -$ -$ - 81 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, 2013 (amounts expressed in thousands) REVENUES: Federal Total Revenues Budgeted Amounts Original Final $ 1,846 $ 4,616 1,846 4,616 Actual Amounts $ 3,967 3,967 Variance With Final Budget - Positive (Negative) $ (649) (649) EXPENDITURES: Instruction 1,150 1,190 967 223 Pupil Services 222 2,698 2,382 316 Improvement of Instructional Services 19 59 28 31 Educational Media Services 9 - - - Federal Grant Administration 179 210 179 31 General Administration - 26 23 3 Business Support Services 43 63 43 20 Maintenance & Operations 20 21 15 6 Student Transportation Other Support Service Total Expenditures 159 266 253 13 45 83 77 6 1,846 4,616 3,967 649 Net Change in Fund Balance - - - - Fund Balance, Beginning of Year - - - - Fund Balance, End of Year $ -$ -$ -$ - 82 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 three 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. 83 COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF FUND NET POSITION INTERNAL SERVICE FUNDS JUNE 30, 2013 (amounts expressed in thousands) Assets: Unemployment Compensation Fund SelfInsurance Fund Dental Insurance Fund Total Current Assets: Due from Other Funds Total Current Assets $ 456 $ 6,859 $ 456 6,859 -$ - 7,315 7,315 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 Position: Unrestricted $ 36 284 - 1,890 - 8 - 1 36 2,183 - 4,519 420 $ 157 $ - 320 - 1,890 - 8 - 1 - 2,219 - 4,519 -$ 577 84 COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITION INTERNAL SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2013 (amounts expressed in thousands) OPERATING REVENUES: Charges for Services Total Revenues Unemployment Compensation Fund SelfInsurance Fund Dental Insurance Fund $ 610 $ 4,657 $ - 610 4,657 - Total $ 5,267 5,267 OPERATING EXPENSES: School and Administrative Services 610 5,150 42 5,802 Operating Loss - (493) (42) (535) Transfers-In - 494 - 494 Change in Net Position - 1 (42) (41) Total Net Position, Beginning of Year, Restated 420 156 42 618 Total Net Position, End of Year $ 420 $ 157 $ -$ 577 85 COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2013 (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 Provided by (Used in) Operating Activities Cash Flows from Noncapital Financing Activities: Transfers-In 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 Unemployment Compensation Fund SelfInsurance Fund Dental Insurance Fund Total $ 574 $ 4,499 $ - (160) (574) (4,236) - (597) 32 $ - (32) - 5,105 (160) (4,842) (597) - (494) - (494) - 494 - 494 - 494 - 494 - - - - - - - - $ -$ -$ -$ - Reconciliation of Operating Loss to Net Cash used in Operating Activities: Operating Loss $ Adjustments to Reconcile Operating Loss to Net Cash used in Operating Activities: Decrease (Increase) in Due From Other Funds Decrease in Prepaid Items Increase in Claims Payables Increase in Accounts Payable Total Adjustments Net Cash used in Operating Activities $ -$ (36) - 36 -$ (493) $ (158) - 100 57 (1) (494) $ (42) $ (535) 32 10 - 42 -$ (162) 10 100 93 41 (494) 86 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. 87 COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES FIDUCIARY FUNDS JUNE 30, 2013 (amounts expressed in thousands) Agency Funds ASSETS: Cash and Cash Equivalents Total Assets Student Activity Payroll Withholding Total $ 1,086 $ 27,882 $ 28,968 1,086 27,882 28,968 LIABILITIES: Due to Student Groups Payroll Withholdings Payable Total Liabilities 1,086 - $ 1,086 $ 27,882 1,086 27,882 27,882 $ 28,968 88 COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF CHANGES IN FIDUCIARY ASSETS AND LIABILITIES FIDUCIARY FUNDS FOR THE YEAR ENDED JUNE 30, 2013 (amounts expressed in thousands) ASSETS: Cash and Cash Equivalents Balance, Beginning of Year Additions Deductions Balance, End of Year Student Activity Payroll Withholding Total $ 1,207 $ 26,154 $ 27,361 1,166 432,711 433,877 (1,287) (430,983) (432,270) $ 1,086 $ 27,882 $ 28,968 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 $ 1,207 $ 1,166 (1,287) 1,086 -$ - - 1,207 1,166 (1,287) 1,086 - 26,154 26,154 - 432,711 432,711 - (430,983) (430,983) - 27,882 27,882 1,207 26,154 27,361 1,166 (1,287) 432,711 (430,983) 433,877 (432,270) $ 1,086 $ 27,882 $ 28,968 89 COBB COUNTY SCHOOL DISTRICT SPLOST II - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2013 LOCATION/DESCRIPTION ACWORTH INTERMEDIATE ADDISON ELEMENTARY ADULT EDUCATION CENTER ALLATOONA HIGH ARGYLE ELEMENTARY AUSTELL ES 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 HENDRICKS ES 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 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 4,958,225 932,114 641,097 909,439 559,807 158,638 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 06/30/13 Expended FY13 Encumbered as of 6/30/13 Uncommitted 823,772 1,080,975 401,503 62,116,821 1,016,817 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 1,372,305 799,639 3,276,769 40,115,935 2,664,732 1,008,830 1,503,009 814,807 1,140,833 2,126,658 16,860,422 1,485,704 1,774,532 823,770 1,080,973 401,502 62,116,820 1,016,811 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 1,372,303 799,639 3,276,768 40,115,926 2,664,727 1,008,828 1,503,009 814,807 1,140,833 2,126,656 16,498,163 1,485,700 1,774,528 10,146 25,575 1,408,069 - 365,979 - 2 2 1 1 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 9 5 2 2 (3,720) 4 4 90 COBB COUNTY SCHOOL DISTRICT SPLOST II - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2013 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 Expended Inception through 06/30/13 Expended FY13 Encumbered as of 6/30/13 Uncommitted 5,668,226 5,668,221 - - 5 3,630,268 3,630,267 - - 1 1,694,293 1,694,292 45,466 - 1 2,478,782 2,478,778 - - 4 1,324,032 1,324,032 - - - 5,489,759 5,489,758 - - 1 18,867,750 18,867,746 - - 4 1,648,166 1,648,166 - - - 6,756,949 6,756,949 - - - 24,008 24,008 - - - 5,054 5,054 - - - 486,469 486,469 - - - 10,621,636 10,621,636 - 1,051,616 1,051,615 - 22,997,909 22,997,902 - 7,862,199 7,862,198 - 2,922,177 2,922,172 - 1,284,851 1,284,850 - 1,441,753 1,441,750 - 7,444,205 7,444,205 - 714,666 714,661 - 848,971 848,969 - 11,666,375 11,666,370 - 4,948,952 4,948,946 - 1,334,540 1,334,539 - 7,937,899 7,937,894 - 1,031,233 1,031,233 - 6,184,050 6,184,043 - 23,205,025 23,205,024 - 3,177,004 3,177,003 - 777,488 777,488 - 7,368,801 7,368,798 - 2,717,333 2,717,331 - 1,145,449 1,145,446 - 1,991,963 1,991,959 - 7,758 7,758 - 867,986 867,986 - 9,018,000 9,017,998 - 1,315,858 1,315,854 - 15,054 15,054 - 8,179,558 8,179,546 - 899,171 899,170 - 6,229 6,229 - 4,047,090 4,047,087 - 8,381,459 8,381,456 - 852,537 852,536 - - - - 1 - 7 - 1 - 5 - 1 - 3 - - - 5 - 2 - 5 - 6 - 1 - 5 - - - 7 - 1 - 1 - - - 3 - 2 - 3 - 4 - - - - - 2 - 4 - - - 12 - 1 - - - 3 - 3 - 1 2,038,460 2,038,452 - - 8 5,613,762 5,613,762 - - - 1,381,341 1,381,340 - - 1 5,355,279 5,355,275 (33) - 4 3,622,139 3,622,138 - - 1 8,939,905 8,939,900 - - 5 18,192,042 17,377,044 18 - 814,998 1,755,073 1,755,069 - - 4 909,019 909,017 - - 2 734,535 734,534 - - 1 2,920,280 2,920,278 - - 2 1,011,215 1,011,213 - - 2 1,167,538 1,167,537 - - 1 12,226,687 12,226,685 - - 2 10,509,687 10,509,682 - - 5 250,582 1,347,300 109,208 88,231 587,855,426 135,137,762 722,993,188 $ 250,581 1,347,300 109,207 88,230 586,677,881 135,137,762 721,815,643 $ 736 - 1,489,977 20,269,817 21,759,794 $ 365,979 365,979 $ 1 1 1 811,566 811,566 91 COBB COUNTY SCHOOL DISTRICT SPLOST III - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2013 LOCATION/DESCRIPTION ACWORTH INTERMEDIATE ADDISON ELEMENTARY ADULT EDUCATION CENTER ALLATOONA HIGH ARGYLE ELEMENTARY AUSTELL ES 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 HENDRICKS 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 LABELLE ELEMENTARY Approved Budget 496,193 1,043,331 397,104 - 1,318,244 113,337 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 1,016,015 282,202 5,280,637 176,890 1,061,830 3,508,784 446,849 882,673 2,260,679 3,347,006 21,244,784 3,458,008 2,570,192 537,008 Revised Budget Expended Inception through 06/30/13 Expended FY13 Encumbered as of 6/30/13 Uncommitted 1,010,865 1,252,563 1,053,356 2,201,132 2,216,930 583,187 4,601,163 4,498,499 599,636 1,461,507 6,107,334 1,355,019 2,136,801 3,909,692 1,103,217 2,221,539 1,919,589 2,039,100 1,010,984 5,435,836 6,560,687 1,888,256 3,488,043 184,107 5,967,187 870,611 1,935,922 1,793,914 6,349,553 3,115,172 2,278,591 2,390,777 2,452,734 1,517,133 2,278,257 4,174,035 541,642 20,091,714 1,333,455 1,428,089 2,486,060 4,251,946 1,461,387 11,382,511 4,076,293 1,648,817 2,144,558 1,237,995 21,567,084 298,034 1,063,591 1,484,464 927,707 3,744,059 2,791,482 1,297,155 3,475,712 2,892,500 1,489,816 2,303,996 5,641,093 26,810,692 3,330,251 3,157,522 1,164,835 997,835 1,241,897 157,575 2,042,787 968,839 578,361 4,056,120 3,360,768 38,031 1,410,247 6,071,044 1,342,956 2,115,737 2,765,752 982,185 468,475 1,203,976 1,418,118 994,434 5,264,810 5,137,506 1,446,068 3,455,351 184,107 5,937,938 848,640 1,273,155 1,747,042 6,126,998 2,934,825 2,238,661 2,334,319 2,154,991 1,498,887 2,232,352 1,928,521 541,640 20,066,218 1,324,963 1,379,774 1,631,811 3,119,106 1,393,247 10,333,924 3,000,567 1,637,437 2,026,378 972,609 14,247,922 283,766 198,858 1,465,337 897,299 3,682,920 2,498,462 1,287,785 3,449,663 2,491,117 1,104,002 1,924,697 5,382,062 10,450,260 3,306,194 2,844,197 1,156,026 139,134 206,298 43,930 188,795 333,479 67,783 2,067,306 2,388,948 37,153 111,118 149,897 44,001 78,653 2,067,318 275,149 68,248 116,387 440,587 164,971 178,717 3,818,956 142,927 114,430 530,788 50,224 537,461 68,828 2,608,592 129,905 25,712 22,241 541,483 110,559 17,931 135,933 98,463 52,073 104,204 26,091 2,416,755 96,731 1,674,093 2,381,193 86,898 543,110 534,395 10,248,793 2,460 67,009 238,929 1,003,725 217,030 79,830 1,018,786 355,187 391,200 531,125 831,841 2,683,301 64,548 431,936 26,793 613,984 664,214 168,811 1,013,556 836,687 93,819 159,537 559,807 1,110,722 17,040 382,954 64,010 119,616 14,542 41,111 641,422 441,789 552,166 212,721 4,782,433 10,799 7,100 17,669 128,776 328,443 17,606 1,850,630 102,713 - 13,030 10,666 281,797 158,345 583,877 4,826 376,232 124,175 561,605 51,260 36,290 12,063 21,064 307,253 27,213 1,593,527 715,613 61,175 16,550 171,026 312,459 425,148 32,692 29,249 21,971 279,813 46,872 158,545 180,347 39,930 56,458 178,127 18,246 45,905 2,230,972 2 25,496 8,492 48,315 813,138 491,418 68,140 606,798 523,560 11,380 118,180 52,665 2,536,729 14,268 864,733 19,127 19,609 54,039 293,020 9,370 26,049 383,714 257,038 50,856 241,425 14,509,802 24,057 210,612 8,809 92 COBB COUNTY SCHOOL DISTRICT SPLOST III - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2013 LOCATION/DESCRIPTION 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 ADMINISTRATION 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 *** FUND TOTAL *** Approved Budget Revised Budget Expended Inception through 06/30/13 Expended FY13 Encumbered as of 6/30/13 Uncommitted 19,710,822 1,078,833 20,483,736 2,109,653 20,177,315 1,462,149 6,191,016 671,771 214,144 604,090 92,277 43,414 2,194,040 2,064,732 2,036,065 720,920 - 28,667 747,495 1,575,592 1,519,413 162,419 1,987 54,192 2,541,438 2,574,216 2,486,772 687,398 - 87,444 78,500 1,142,886 1,084,277 73,286 - 58,609 - 375,321 370,767 (1,193) - 4,554 28,150,542 4,925,337 22,102,300 4,711,757 21,964,295 3,825,636 2,381,304 110,870 29,310 138,005 856,811 1,327,752 1,053,981 1,052,436 3,159 - 1,545 820,382 697,949 675,715 29,543 - 22,234 518,652 588,860 516,899 38,042 - 71,961 110,691 18,904,274 697,840 12,494,383 689,082 11,571,289 51,381 2,031,099 - 8,758 - 923,094 690,684 1,441,633 1,401,652 270,510 - 39,981 4,945,324 6,863,096 4,029,651 174,409 - 2,833,445 914,540 1,414,486 698,181 96,890 36,034 680,271 2,083,632 2,433,140 2,426,425 2,660,038 1,766,646 1,642,956 76,869 540,522 17,799 390,585 641,980 626,497 3,828,525 3,828,517 3,034,769 366,800 217,458 576,290 937,614 1,305,529 942,855 475,042 188,549 174,125 3,006,933 2,497,046 2,379,299 660,286 3,692 114,055 29,811,178 21,474,189 21,239,316 354,704 15,531 219,342 1,924,009 2,457,779 1,631,821 63,061 44,492 781,466 772,510 7,299,608 1,002,033 8,693,469 353,482 3,151,399 152,296 211,151 31,629 124,144 616,922 5,417,926 63,477 982,901 892,014 80,583 - 90,887 3,300,243 6,405,660 6,374,915 1,498,362 455 30,290 - 604,697 588,286 98,377 - 16,411 17,072,723 926,767 9,416,808 1,555,444 8,933,217 871,610 459,043 65,365 34,578 483,591 649,256 26,949,449 22,206,203 20,910,766 7,496,279 298,966 996,471 17,804,561 15,777,239 13,719,178 480,499 - 2,058,061 3,742,333 3,594,455 1,161,661 125,150 94,247 2,338,547 657,886 896,148 1,041,999 1,267,525 1,033,592 1,250,203 57,840 310,525 - 8,407 - 17,322 323,888 631,771 623,182 22,809 - 8,589 1,611,065 1,821,227 897,527 141,668 45,269 878,431 372,663 337,684 48,968 - 305 288,411 786,539 1,702,708 1,676,285 544,906 - 26,423 1,446,584 1,644,553 1,627,374 90,714 - 17,179 1,415,981 1,057,753 1,009,245 1,303,731 1,007,605 1,283,492 82,546 98,652 - 1,640 - 20,239 899,547 1,422,200 864,066 238,640 95,273 462,861 19,920,740 11,158,124 11,032,752 602,366 39,046 86,326 - 342,690 182,370 182,370 3,355 156,965 1,262,673 5,472,621 383,049 5,174,495 383,046 905,641 39,279 153,722 3 4,115,132 28,170,146 32,004,319 30,758,815 15,334,491 512,852 732,652 6,227,104 5,223,881 5,199,897 831,161 2,900 21,084 28,519,045 25,607,538 25,413,615 304,560 5,045 188,878 25,333,056 15,642,021 15,621,757 516,673 - 20,264 970,841 1,567,332 794,482 160,343 38,573 734,277 231,269,444 34,270,313 7,557,500 1,603,243 - 26,712,813 6,640,133 6,164,133 4,233,401 3,301,958 686,733 1,243,999 1,782,903 2,222,231 1,475,090 93,713 36,141 711,000 769,896 1,473,177 1,169,768 1,829,777 778,468 1,814,124 338,718 163,865 115,534 - 275,766 15,653 4,070,429 3,161,402 3,049,947 175,352 18,856 92,599 613,490 1,311,118 1,237,303 67,699 - 73,815 3,456,045 7,046,428 6,881,332 1,358,618 9,741 155,355 18,303,208 - - - - - 9,409,088 28,967,013 25,507,541 12,407,945 2,577,038 882,434 379,955 491,861 12,771,354 4,029,849 5,759,745 3,550,062 2,005,377 813,798 303,992 10,312 6,707,617 469,475 229,503 435,165 382,207 40,999 1,098 51,860 - 59,524 49,051 8,971 8,971 1,502 $ 797,656,675 $ 631,492,408 $ 511,093,773 $ 113,067,353 $ 21,967,123 $ 98,431,512 93 (This page was left blank intentionally) Area 5 6th Grade Leah Delfausse Lost Mountain Middle School (This page was left blank intentionally) 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 understand and assess the District's most significant own-source revenue, the property tax. Debt Capacity These schedules present information to help the reader assess the affordability of the District's current level of outstanding debt and the District's ability to issue additional debt in the future. Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the District's financial activities take place. Operating Information These schedules contain operating statistics, capital asset data, staffing information and key performance indicators to help the reader understand how the information in the District's financial report relates to the services the District provides and the activities it performs. Sources: Unless otherwise noted, the information contained here is derived from comprehensive annual financial reports for the indicated years. The District began implementation of GASB Statement No. 54 as of July 1, 2010, and implementation of GASB Statements No. 63 and 65 as of July 1, 2012. 94 COBB COUNTY SCHOOL DISTRICT NET POSITION BY COMPONENT LAST TEN FISCAL YEARS (amounts expressed in thousands) Net Position Components Net Investment in Capital Assets Restricted for: Debt Service Special Purpose Local Option Sales Tax II Special Purpose Local Option Sales Tax III School Nutrition Program Miscellaneous Grants Unrestricted June 30, 2004 $ 508,226 18,340 - 217,726 Fiscal Year June 30, 2005 June 30, 2006 $ 653,443 $ 873,831 11,361 - 238,391 6,777 - 170,994 June 30, 2007 $ 877,694 11,785 - 319,370 Total Net Position $ 744,292 $ 903,195 $ 1,051,602 $ 1,208,849 Source: District Records 95 June 30, 2008 $ 1,054,860 June 30, 2009 $ 1,060,388 Fiscal Year June 30, 2010 June 30, 2011 $ 1,054,911 $ 1,066,545 June 30, 2012 $ 1,230,853 June 30, 2013 $ 1,262,788 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 1,178 48,682 20,924 20 149,881 $ 1,284,444 $ 1,306,089 $ 1,342,116 $ 1,423,469 $ 1,454,691 $ 1,483,473 96 COBB COUNTY SCHOOL DISTRICT CHANGES IN NET POSITION LAST TEN FISCAL YEARS (amounts expressed in thousands) Governmental Activities Expenses: 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 Charges For Services: Instruction Pupil Services School and Administrative Services Maintenance and Operations Student Activities Operating Grants and Contributions Capital Grants and Contributions Total Governmental Expenses Governmental Net Expenses General Revenues and Other Changes in Net Position 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 Capital Assets Other Total General Revenues Extraordinary Item: Gain after Insurance Recovery Change in Net Position June 30, 2004 Fiscal Year June 30, 2005 June 30, 2006 June 30, 2007 $ 564,592 $ 581,871 $ 629,565 $ 690,562 20,529 22,342 24,453 25,523 32,235 32,643 36,513 38,970 141,537 142,323 149,359 171,343 37,444 40,610 43,660 45,646 45,096 47,238 53,565 55,836 33,023 29,401 29,476 - 8,004 6,375 4,500 4,606 $ 882,460 $ 902,803 $ 971,091 $ 1,032,486 $ 1,326 $ 1,340 $ 1,361 $ 1,205 7 12 13 6 39,166 41,514 40,710 44,245 1,360 833 840 893 34,881 30,438 29,651 - 398,800 397,845 437,251 481,508 8,404 38,203 20,306 34,884 $ 483,944 $ 510,185 $ 530,132 $ 562,741 $ (398,516) $ (392,618) $ (440,959) $ (469,745) $ 368,618 $ 380,687 $ 412,017 $ 445,840 18,691 19,279 20,851 22,473 108,864 115,673 125,742 129,099 4,951 6,283 12,928 14,178 28 - - - 4,036 9,447 17,178 21,231 3 1 2 4 - - - - 595 500 648 523 $ 505,786 $ 531,870 $ 589,366 $ 633,348 - - - - $ 107,270 $ 139,252 $ 148,407 $ 163,603 Source: District Records 97 June 30, 2008 June 30, 2009 Fiscal Year June 30, 2010 June 30, 2011 June 30, 2012 June 30, 2013 $ 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 $ 685,671 27,093 53,389 156,481 46,888 70,437 28,525 - $ 1,068,484 $ 1,481 $ 1,276 $ 1,184 $ 1,241 $ 1,068 $ 1,101 11 11 10 13 11 10 44,199 43,557 41,142 27,312 27,921 29,104 1,110 2,254 1,332 909 983 1,842 - - - 28,721 29,402 28,608 501,582 468,115 491,465 518,300 478,937 504,819 866 2,739 199 541 30,832 7,524 $ 549,249 $ 517,952 $ 535,332 $ 577,037 $ 569,154 $ 573,008 $ (553,213) $ (589,363) $ (553,643) $ (473,336) $ (504,986) $ (495,476) $ 466,320 $ 482,690 $ 470,456 $ 423,694 $ 405,965 $ 400,271 1,415 142 52 43 - - 128,043 110,242 112,395 113,739 122,557 121,008 17,428 7,307 2,323 1,475 1,079 - - - - - - - 15,070 5,931 2,979 3,070 2,076 1,632 - - - - - - - - - - 516 - 532 876 953 2,962 4,015 1,347 $ 628,808 $ 607,188 $ 589,158 $ 544,983 $ 536,208 $ 524,258 - - 512 - - - $ 75,595 $ 17,825 $ 36,027 $ 71,647 $ 31,222 $ 28,782 98 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, 2004 Fiscal Year June 30, 2005 June 30, 2006 June 30, 2007 $ 17,008 $ 18,418 $ 18,825 $ 28,335 41,832 51,463 93,944 114,566 - - - - - - - - - - - - - - - - - - - - $ 58,840 $ 69,881 $ 112,769 $ 142,901 All Other Governmental Funds Reserved $ Unreserved, reported in: Special Revenues Funds Capital Projects Funds Nonspendable Restricted Committed Assigned Total All Other Governmental Funds $ 178,103 $ 16,175 (130,328) 63,950 $ 79,166 $ 20,543 (43,463) 56,246 $ 127,327 $ 24,459 (88,793) 62,993 $ 61,017 22,063 (18,507) 64,573 (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 99 June 30, 2008 June 30, 2009 Fiscal Year June 30, 2010 June 30, 2011 (a) June 30, 2012 June 30, 2013 $ 26,739 $ 101,848 - - - - - $ 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 $ 674 59,272 75,349 135,295 $ 21,580 $ 24,165 $ 67,008 $ -$ -$ - 22,627 20,470 22,966 - - - 53,105 115,594 108,716 - - - - - - 1,365 1,706 1,848 - - - 136,076 76,355 70,804 - - - 11,646 11,883 12,577 - - - 11,893 4,737 2,289 $ 97,312 $ 160,229 $ 198,690 $ 160,980 $ 94,681 $ 87,518 100 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 2004 $ 491,878 411,814 60,578 4,036 3 970 2,991 937 973,207 Fiscal Year 2005 2006 $ 512,566 442,157 58,275 9,447 1 433 3,219 639 1,026,737 $ 555,012 470,136 58,905 17,178 2 334 2,908 1,000 1,105,475 2007 $ 593,038 529,965 34,488 21,231 4 397 782 1,179,905 538,504 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 1,074,507 653,593 23,117 37,193 154,002 40,328 55,007 - 131,234 49,699 6,092 1,150,265 29,593 2,861 30,968 29,640 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) 25,953 (27,730) 340 9,865 8,428 - $ 33,513 $ 3,337 $ 29,984 $ 38,068 Non-Capitalized Expenditures Capitalized Expenditures Total Expenditures Debt Service as a Percentage of Non-Capitalized Expenditures $ 873,979 $ 900,487 $ 962,671 $ 1,028,751 69,635 123,389 111,836 121,514 $ 943,614 $ 1,023,876 $ 1,074,507 $ 1,150,265 5.76% 5.84% 5.49% 5.42% (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 101 2008 $ 589,915 519,632 34,795 15,070 1 631 735 1,160,779 2009 $ 585,637 477,654 33,143 5,931 11 1,824 1,374 1,105,574 Fiscal Year 2010 2011 $ 574,944 493,883 31,684 2,979 3 897 1,060 1,105,450 $ 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 2013 $ 518,604 512,258 56,088 1,717 1,383 3,194 1,347 1,094,591 700,308 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 1,186,642 628,513 23,067 51,492 152,266 43,674 59,473 28,525 - 113,346 1,100,356 20,384 16,636 40,491 14,651 (79,649) (5,765) 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 21,448 (21,942) 458 - (36) - $ 18,425 $ 1,055,849 84,546 $ 1,140,395 - $ 14,619 $ 1,050,220 38,718 $ 1,088,938 3,952 $ 43,778 $ 1,019,111 45,848 $ 1,064,959 - $ 13,421 $ 994,729 115,893 $ 1,110,622 $ (79,356) $ (5,801) $ 1,010,754 175,888 $ 1,186,642 $ 997,944 102,412 $ 1,100,356 0.40% 0.73% - - - - 102 COBB COUNTY SCHOOL DISTRICT PROPERTY TAX LEVIES AND COLLECTIONS JUNE 30, 2013 Property Taxes Collected and Balances Receivable amounts in thousands $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 2007 2008 2009 2010 Balance Receivable Debt Service Collections 2011 2012 General Fund Collections $50,000 $0 2013 Balances as of June 30, 2013 (amounts expressed in thousands) 2007 2008 2009 General Fund: Total Taxes Levied $ 428,739 $ 459,381 $ 477,932 2010 $ 468,234 2011 $ 428,077 2012 $ 403,777 2013 $ 394,842 Total $ 3,060,982 Collected or Released: Current Year % of Total Taxes Levied Subsequent Years Total Coll. or Released Balance Receivable % Collected/Released Debt Service Fund: Total Taxes Levied 424,419 454,048 470,480 460,995 422,494 399,261 391,485 3,023,182 98.99% 98.84% 98.44% 98.45% 98.70% 98.88% 99.15% 98.77% 4,185 5,118 7,093 6,696 4,978 3,518 - 31,588 428,604 459,166 477,573 467,691 427,472 402,779 391,485 3,054,770 $ 135 $ 215 $ 359 $ 543 $ 605 $ 998 $ 3,357 $ 6,212 99.97% 99.95% 99.92% 99.88% 99.86% 99.75% 99.15% 99.80% $ 21,097 $ -$ -$ -$ -$ -$ - $ 21,097 Collected or Released: Current Year 20,872 - - - - - - 20,872 % of Total Taxes Levied 98.93% - - - - - - 98.93% Subsequent Years 219 - - - - - - 219 Total Coll. or Released Balance Receivable % Collected/Released Total - All Funds: Total Taxes Levied 21,091 $ 6$ 99.97% -$ 0.00% -$ 0.00% -$ 0.00% -$ 0.00% -$ 0.00% -$ 0.00% 21,091 6 99.97% $ 449,836 $ 459,381 $ 477,932 $ 468,234 $ 428,077 $ 403,777 $ 394,842 $ 3,082,079 Collected or Released: Current Year % of Total Taxes Levied Subsequent Years Total Coll. or Released Balance Receivable 445,291 454,048 470,480 460,995 422,494 399,261 391,485 3,044,054 98.99% 98.84% 98.44% 98.45% 98.70% 98.88% 99.15% 98.77% 4,404 5,118 7,093 6,696 4,978 3,518 - 31,807 449,695 459,166 477,573 467,691 427,472 402,779 391,485 3,075,861 $ 141 $ 215 $ 359 $ 543 $ 605 $ 998 $ 3,357 $ 6,218 % Collected/Released 99.97% 99.95% 99.92% 99.88% 99.86% 99.75% 99.15% 99.80% Note: Seven years of data is presented because the Georgia statute of limitations for collection of delinquent taxes is seven years. Source: Cobb County Government 103 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 2004 2005 2006 2007 2008 2009 2010 Motor Vehicles Public Services Maint & Oper 2011 2012 Debt Service 2013 (amounts expressed in thousands) Net M&O Net Bond For Maintenance & Operations of Schools For Debt Service of School Bonds Fiscal Year 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Personal Real Property Property $ 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 16,898,249 1,374,209 Personal Real Property Property $ 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 Total Assessed Services Motor Vehicle Value $ 451,723 $ 1,774,879 $ 19,679,361 450,043 1,736,742 20,609,863 457,754 1,688,346 22,095,208 491,717 1,747,132 23,932,775 485,234 1,845,671 24,185,375 523,121 1,892,692 25,287,425 547,675 1,794,543 24,774,275 680,936 1,658,511 22,649,587 753,229 1,679,543 21,363,852 838,778 1,779,893 20,891,129 Direct Estimated Rate Actual Value 1.900% $ 49,198,403 1.900% 51,524,657 1.900% 55,238,019 1.900% 59,831,937 1.890% 60,463,438 1.890% 63,218,563 1.890% 61,935,688 1.890% 56,623,969 1.890% 53,409,628 1.890% 52,227,822 Note: Prior to 2008, the property digest for debt service of school bonds included properties annexed by the City of Marietta that 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 assessments 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 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. 104 COBB COUNTY SCHOOL DISTRICT DIRECT AND OVERLAPPING PROPERTY TAX RATES LAST TEN FISCAL YEARS JUNE 30, 2013 PROPERTY TAX RATES 25.00 22.50 20.00 17.50 15.00 12.50 10.00 7.50 5.00 2.50 0.00 2004 2005 2006 2007 2008 School District 2009 2010 County Government 2011 2012 2013 (all tax rates are per $1000 assessed valuation) 2004 2005 School District Maint & Operations Debt Service 19.90 0.90 19.90 0.90 Total Direct Rate 20.80 20.80 2006 19.90 0.90 20.80 2007 19.90 0.90 20.80 2008 18.90 - 18.90 2009 18.90 - 18.90 2010 18.90 - 18.90 2011 18.90 - 18.90 2012 18.90 - 18.90 2013 18.90 - 18.90 County Government General Fire District Debt Service Total County Rate State of Georgia Total Overlapping Rate 6.88 6.85 6.82 6.82 6.82 6.82 6.82 7.72 7.72 7.52 2.65 2.65 2.56 2.56 2.56 2.56 2.56 3.06 3.06 3.06 0.22 0.22 0.22 0.22 0.22 0.22 0.22 0.33 0.33 0.33 9.75 9.72 9.60 9.60 9.60 9.60 9.60 11.11 11.11 10.91 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.20 0.20 10.00 9.97 9.85 9.85 9.85 9.85 9.85 11.36 11.31 11.11 Additional Overlapping Rates City of Acworth 7.45 7.37 7.87 7.68 7.60 7.60 7.60 7.60 7.60 7.60 City of Austell 3.12 3.12 3.12 3.12 3.12 3.12 3.12 3.12 4.00 4.00 City of Kennesaw 6.75 6.75 8.25 8.25 9.50 9.50 9.50 9.50 9.50 9.50 City of Powder Spgs 7.00 8.50 8.50 8.50 8.50 8.50 8.50 8.50 8.50 8.50 City of Smyrna 9.70 9.65 9.57 9.17 8.99 8.99 8.99 8.99 8.99 8.99 Sources: Cobb County Government, Georgia Department of Revenue 105 COBB COUNTY SCHOOL DISTRICT PRINCIPAL PROPERTY TAXPAYERS DECEMBER 31, 2012 AND NINE YEARS AGO (a) Principal Property Taxpayers - 2012 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% UK Lasalle Inc. CRP Walton Communities CP Venture Five, LLC Lockheed Martin Ohio Teacher's Retirement Fund SP4 Properties Cobb EMC Home Depot Georgia Power Taxpayer Georgia Power Home Depot Cobb EMC SP4 Properties Ohio Teacher's Retirement Fund Lockheed Martin CP Venture Five, LLC Walton Communities CRP UK Lasalle Inc. Wildwood Properties Post Properties Bell South Telecommunication AMLI Land Development Crow Properties Trizechahn Properties TOTAL Type of Business Utilities Retail Utilities Commercial Real Estate Investment Aircraft Commercial Real Estate Real Estate Real Estate Commercial Real Estate Real Estate Real Estate Utilities Real Estate Real Estate Real Estate December 31, 2012 Percent of Total Taxes Taxes Rank Levied Levied 1 $ 9,060,911 2.295% 2 3,603,663 0.913% 3 2,080,314 0.527% 4 2,060,021 0.522% 5 1,840,502 0.466% 6 1,674,132 0.424% 7 1,136,319 0.288% 8 1,127,066 0.285% 9 1,061,411 0.269% 10 1,061,021 0.269% $ 24,705,359 6.258% December 31, 2003 Percent of Total Taxes Taxes Rank Levied Levied 5 $ 1,755,000 0.478% 3 2,497,000 0.681% 7 1,554,000 0.424% 6 1,681,000 0.458% 1 3,920,000 2 2,902,000 4 2,307,000 8 1,365,000 9 1,220,000 10 993,000 $ 20,194,000 1.069% 0.791% 0.629% 0.372% 0.333% 0.271% 5.506% Note: School millage rate is 62.98% of total county rate. Taxes levied are multiplied by 62.98% to arrive at amount of school taxes. (a) Information is available only by calendar year; therefore, data reported is for December 31, 2012 and nine years earlier, December 31, 2003. Source: Cobb County Tax Commissioner 106 COBB COUNTY SCHOOL DISTRICT LEGAL DEBT MARGIN INFORMATION LAST TEN FISCAL YEARS (amounts expressed in thousands) Debt Limit Total debt applicable to limit Legal Debt Margin Total debt applicable as a percentage of debt limit 2004 $ 1,967,936 122,907 2005 $ 2,060,986 84,062 Fiscal Year 2006 $ 2,209,521 42,103 2007 $ 2,393,278 - 2008 $ 2,418,538 - $ 1,845,029 $ 1,976,924 $ 2,167,418 $ 2,393,278 $ 2,418,538 6.25% 4.08% 1.91% - - Debt Limit Total debt applicable to limit Legal Debt Margin Total debt applicable as a percentage of debt limit 2009 $ 2,528,743 2010 $ 2,477,428 Fiscal Year 2011 $ 2,264,959 2012 $ 2,136,385 2013 $ 2,089,113 - - - - - $ 2,528,743 $ 2,477,428 $ 2,264,959 $ 2,136,385 $ 2,089,113 - - - - - Source: District Records 107 COBB COUNTY SCHOOL DISTRICT LEGAL DEBT MARGIN INFORMATION FISCAL YEAR 2013 Legal Debt Information - Fiscal Year 2013 $0 $2,089,112,900 Total Amount of Debt Applicable to Debt Limit Legal Debt Margin Net Assessed Valuation, Cobb County School District, January 1, 2012 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 108 $ 20,891,129,000 $ 2,089,112,900 $ - $ - $ 2,089,112,900 COBB COUNTY SCHOOL DISTRICT RATIOS OF OUTSTANDING DEBT BY TYPE LAST TEN FISCAL YEARS Debt Per Capita $250 $200 $150 $100 $50 $2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 (amounts expressed in thousands, except per capita) Total General Primary Fiscal Obligation Capital Government Year Bonds Leases Debt Annual Personal Income 2004 $ 128,870 $ 2005 87,440 2006 44,780 2007 - 12,377 $ 8,140 4,239 9,186 141,247 $ 95,580 49,019 9,186 24,751,647 26,371,168 28,060,168 29,527,141 2008 - 7,376 7,376 31,260,457 2009 - - - 30,899,585 2010 - - - 30,271,983 2011 - - - 32,033,629 2012 - - - N/A 2013 - - - N/A Population 574,968 586,245 596,736 606,706 615,377 617,750 618,206 633,084 642,143 649,141 Debt as a Percentage of Personal Income 0.57% 0.36% 0.17% 0.03% 0.02% - Total Debt Per Capita $ 246 163 82 15 12 - - - - - Notes: Details regarding the District's outstanding debt can be found in the notes to the basic financial statements. Population of 649,141 provided by the Atlanta Regional Commission and excludes the City of Marietta. N/A = Data not available from source at time of printing Sources: District Records, US Department of Commerce Bureau of Economic Analysis 109 COBB COUNTY SCHOOL DISTRICT RATIO OF NET GENERAL BONDED DEBT TO ESTIMATED ACTUAL VALUE AND NET BONDED DEBT PER CAPITA LAST TEN FISCAL YEARS 0.30% 0.25% 0.20% Ratio of Net Bonded Debt to Estimated Actual Value 0.15% 0.10% 0.05% 0.00% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Fiscal Year 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Population 574,968 $ 586,245 596,736 606,706 615,377 617,750 618,206 633,084 642,143 649,141 Estimated Actual Value 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 52,227,822,000 Gross Bonded Debt Restricted for Bonded Debt 128,870,000 $ 87,440,000 5,963,000 $ 3,220,000 44,780,000 - 2,538,000 2,599,000 1,826,000 1,523,000 1,356,000 - Note: All general obligation bonds were retired in fiscal year 2007. Sources: District Records, Cobb County Tax Commissioner. Population provided by Atlanta Regional Commission and excludes the City of Marietta. Net Bonded Debt Ratio of Net Net Bonded Debt Bonded to Est. Debt Per Actual Value Capita 122,907,000 84,220,000 0.25% $ 214 0.16% 144 42,242,000 0.08% 71 - - - - - - - - - - - - - - - - - - - - - 110 COBB COUNTY SCHOOL DISTRICT COMPUTATION OF DIRECT AND OVERLAPPING GENERAL OBLIGATION DEBT JUNE 30, 2013 Direct and Overlapping Debt Per Capita $0 $47 Direct: Cobb County Schools Indirect: Cobb County Government Direct General Obligation Debt: Gross Bonded Debt Overlapping General Obligation Debt: Cobb County Government (92% of $33,375,000) Total Direct and Overlapping General Obligation Debt Debt Per Capita:* Direct General Obligation Debt Overlapping General Obligation Debt Total $ - $ $ 30,705,000 $ $ $ $ - 30,705,000 30,705,000 47 47 *Population of 649,141 from Atlanta Regional Commission (less estimated population for City of Marietta). Note: The overlap percentage is determined by the percentage of Fire District to Debt Service Fund of Cobb County Government. 111 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 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Fiscal Year 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Personal Income Population (In Thousands) 630,600 $ 23,589,661 632,900 24,751,647 643,700 26,371,168 654,900 28,060,168 664,700 29,527,141 674,200 31,260,457 676,800 30,899,585 677,300 30,271,983 699,500 32,033,629 707,500 N/A Average/ Per Capita Median Personal Household Income Income $ 37,408 $ 62,511 39,108 61,087 40,968 62,423 42,846 61,682 44,422 64,817 46,367 70,472 45,655 63,514 43,888 59,896 45,923 57,995 N/A 65,423 Median Age 33.4 34.4 34.9 35.6 35.9 36.2 34.8 35.4 35.6 35.4 Student Enrollment 97,294 101,141 103,285 105,482 106,572 106,056 105,742 106,836 106,502 107,914 Unemployment Rate 4.7% 4.5% 4.8% 4.1% 3.8% 5.6% 8.8% 9.7% 8.9% 8.0% Sources: Population from Atlanta Regional Commission, includes City of Marietta. Personal Income from Bureau of Economic Analysis (2012 data unavailable at time of report printing). Unemployment Rate from Georgia Department of Labor. Average/Median Household Income from Atlanta Regional Commission (2003-05) and US Census Bureau (2006-13; Census Bureau reports only Median Income) . Median Age from US Census Bureau. 112 COBB COUNTY SCHOOL DISTRICT PRINCIPAL EMPLOYERS CURRENT YEAR AND NINE YEARS AGO (a) Principal Employers - 2012 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 - Walmart Kroger Company Dobbins Air Force Base Publix Super Markets Cobb County Government Kennesaw State University Lockheed Martin Corp Wellstar Health System Cobb County School District Home Depot Employer Home Depot Cobb County School District Wellstar Health System Lockheed Martin Corp Kennesaw State University Cobb County Government Publix Super Markets Dobbins Air Force Base Kroger Company Walmart Six Flags Over Georgia Sprint PCS Total Rank 1 2 3 4 5 6 7 8 9 10 2012 Employees 20,000 14,107 12,746 6,900 4,404 4,210 2,988 2,547 2,383 2,258 - Percentage of Total County Employment 5.71% 4.03% 3.64% 1.97% 1.26% 1.20% 0.85% 0.73% 0.68% 0.64% - Rank 2 1 4 3 7 5 6 9 8 10 2003 Employees 8,367 13,788 7,511 7,816 2,646 4,551 3,950 2,025 2,600 2,000 Percentage of Total County Employment 2.61% 4.30% 2.34% 2.44% 0.83% 1.42% 1.23% 0.63% 0.81% 0.62% 72,543 20.71% 55,254 17.23% (a) Information is available by calendar year; therefore, data reported is for years ended December 31, 2012 and nine years earlier, December 31, 2003. Sources: District Records Cobb County Government Cobb Chamber of Commerce Georgia Department of Labor 113 COBB COUNTY SCHOOL DISTRICT COMPARISON OF METROPOLITAN ATLANTA SCHOOL DISTRICT PROPERTY TAX RATES JUNE 30, 2013 Metro Atlanta School District Tax Rates Tax Rate 25.000 20.000 15.000 10.000 5.000 0.000 Atlanta Clayton Cobb City County County Dekalb Douglas Fulton Gwinnett Marietta Rockdale County County County County City County Debt Service M & O (all tax rates are per $1000 assessed valuation) School District Atlanta City Clayton County Cobb County Dekalb County Douglas County Fulton County Gwinnett County Marietta City Rockdale County Total Rate 21.740 20.000 18.900 23.980 21.950 18.502 20.550 19.157 24.500 Source: Georgia Department of Revenue Maintenance & Operations 21.640 20.000 18.900 23.980 19.850 18.502 19.250 19.157 24.500 Debt Service 0.100 0.000 0.000 0.000 2.100 0.000 1.300 0.000 0.000 114 COBB COUNTY SCHOOL DISTRICT COBB COUNTY BANK DEPOSITS, CONSTRUCTION AND TAXABLE PROPERTY VALUES LAST TEN FISCAL YEARS dollars in millions $1,400 Cobb County New Construction $1,200 $1,000 $800 $600 $400 $200 $0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 (dollars expressed in millions) Fiscal Year 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Bank Deposits (a) $ 7,093 8,074 9,017 9,891 10,659 10,542 9,468 9,490 10,103 10,269 Single-Family Residences (b) Number Market of Units Value 2,520 $ 443 2,737 617 2,655 636 2,082 521 1,276 332 510 118 434 99 491 114 597 161 981 279 Total New Construction (b) Number Market of Permits Value 8,790 9,727 10,286 $ 859 1,175 1,262 10,232 9,687 7,019 5,102 5,594 5,587 6,246 1,029 838 572 349 410 656 694 Estimated Actual Value of Taxable Property (c) $ 49,198 51,525 55,238 59,832 60,463 63,206 61,936 56,624 53,410 52,227 (a) Bank deposits are supplied by the Federal Deposit Insurance Corporation (FDIC). (b) Residential and total new construction data is supplied by Cobb County Government Community Development Agency. (c) Source is Cobb County Tax Commissioner. 115 COBB COUNTY SCHOOL DISTRICT PROPERTY DIGEST REDUCTIONS DUE TO EXEMPTIONS LAST TEN FISCAL YEARS amounts in thousands $30,000,000 Digest Reductions Compared to Gross Property Digest $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Gross Property Digest Personal Property Exemption Elderly Exemption Homestead Exemption (amounts expressed in thousands) Fiscal Year 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Homestead Exemption $ 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 1,041,831 Elderly Exemption $ 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 3,299,172 Disabled Residents Exemption $ 15,650 15,894 15,610 14,708 14,666 15,099 15,389 15,208 14,608 15,660 Personal Property Exemption $ 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 1,175,141 Conservation Exemption $ 67,233 68,447 83,016 85,575 83,478 80,282 82,041 66,204 53,464 52,676 Total Digest Reductions $ 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 5,584,480 Gross Property Digest $ 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 20,891,129 Reductions as Percent of Gross Digest 19.43% 20.74% 21.31% 21.16% 22.54% 21.60% 23.38% 26.60% 26.84% 26.73% Source: Cobb County Tax Commissioner 116 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 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Fiscal Year 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Professional Personnel (a) 8,431 8,024 8,508 9,313 9,101 9,213 9,272 8,378 8,290 8,008 Other Operating Personnel (b) 2,711 2,742 2,961 3,138 3,379 3,391 3,046 2,841 2,970 2,896 Service Personnel (c) 2,115 2,286 2,335 2,478 2,972 3,049 2,994 2,857 2,847 2,813 Total Personnel 13,257 13,052 13,804 14,929 15,452 15,653 15,312 14,076 14,107 13,717 Average Daily Enrollment 101,584 103,061 104,901 107,082 106,734 106,256 106,835 106,868 106,944 108,240 Ratio of Pupils to Professional Personnel 12.0 to 1 12.8 12.3 11.5 11.7 11.5 11.5 12.8 12.9 13.5 (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 Source: District Records 117 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 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Fiscal Year Expenses Average Daily Enrollment Cost Per Pupil Enrolled Percentage of Change Professional Personnel 2004 2005 2006 2007 2008 2009 2010 2011 $ 882,460,000 902,803,000 971,091,000 1,032,486,000 1,102,462,000 1,107,315,000 1,088,975,000 1,050,373,000 101,584 103,061 104,901 107,082 106,734 106,256 106,835 106,868 $ 8,687 8,760 9,257 9,642 10,329 10,421 10,193 9,829 0.84% 5.68% 4.16% 7.13% 0.89% -2.19% -3.57% 8,431 8,024 8,508 9,313 9,101 9,213 9,272 8,378 2012 1,074,140,000 106,944 10,044 2.19% 8,290 2013 1,068,484,000 108,240 9,871 -1.72% 8,008 Ratio of Pupils to Professional Personnel 12.0 to 1 12.8 12.3 11.5 11.7 11.5 11.5 12.8 12.9 13.5 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 118 COBB COUNTY SCHOOL DISTRICT GENERAL FUND EXPENDITURES BY FUNCTION LAST TEN FISCAL YEARS amounts in thousands $1,000,000 $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0 2004 2005 2006 2007 2008 2009 2010 Other Capital Outlay Business Serv. School & Admin. 2011 2012 Pupil Services 2013 Instruction (amounts expressed in thousands) Fiscal Pupil Year Instruction Services School & Administrative Services Business Services 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 537,955 538,858 568,611 650,506 711,160 703,297 671,102 635,497 641,662 632,579 12,975 12,698 15,414 16,894 18,716 19,566 18,513 16,755 17,330 17,502 69,132 70,601 74,866 80,690 83,620 85,445 74,888 72,761 78,172 77,821 74,891 78,343 86,146 92,320 100,139 101,253 97,049 93,103 93,237 100,191 Capital Outlay 20,860 5,217 5,581 9,232 15,970 14,977 1,484 3,522 9,214 6,659 Other 4,039 4,340 4,063 5,536 2,085 7,676 - 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. Total 719,852 710,057 754,681 855,178 931,690 932,214 863,036 821,638 839,615 834,752 Source: District Records 119 COBB COUNTY SCHOOL DISTRICT GENERAL FUND REVENUES BY SOURCE LAST TEN FISCAL YEARS amounts in thousands $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 Other Interest Intergovernmental Local Taxes $0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 (amounts expressed in thousands) Fiscal Year 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Local Taxes $ 364,523 377,772 408,599 441,716 460,537 475,294 462,518 427,174 408,123 397,592 Intergovernmental $ 349,528 340,185 381,436 422,286 449,098 404,313 404,856 431,352 391,997 415,168 Interest Income $ 2,659 5,193 9,714 12,150 9,843 4,497 2,475 2,410 1,981 1,562 Other $ 1,485 770 900 799 1,082 2,276 1,830 1,091 1,092 2,406 Total $ 718,195 723,920 800,649 876,951 920,560 886,380 871,679 862,027 803,193 816,728 Other includes Tuition & Fees, Insurance & Damage Recoveries, Rentals and Other Revenues. Source: District Records 120 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% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Fiscal Year 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Debt Service Fund Expenditures $ 45,835,000 45,197,000 46,158,000 46,571,000 - - - - - - General Fund Expenditures $ 719,852,000 710,057,000 754,681,000 855,178,000 931,690,000 932,214,000 863,036,000 821,638,000 839,615,000 834,752,000 Note: Debt Service was fully paid by the end of fiscal year 2007. Source: District Records 121 Ratio of Debt Service Fund to General Fund Expenditures 6.37% 6.37% 6.12% 5.45% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 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 1957 1961 1962 1964 1969 1973 1977 1979 1981 1985 1987 1989 1991 1995 1997 1998 2003 2008 2013 Referendums: Year Amount 1950 $ 1,500,000 1957 1,750,000 1961 2,500,000 1962 3,000,000 1964 4,000,000 1969 15,000,000 1973 16,500,000 1977 22,000,000 1979 20,000,000 1981 8,000,000 1985 27,000,000 1987 58,500,000 1989 59,500,000 1991 39,600,000 1995 220,865,000 1997 609,200,000 1998 626,773,000 2003 636,504,000 2008 797,657,000 2013 717,845,000 Maturity 1970 1977 1980 1983 1994 1990 1994 1996 1997 1997 1997 2001 2002 2004 2007 2002 2003 2008 2013 2018 Action Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Failed Passed 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 23,273 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 17,325 Void 17 31 38 36 63 5 10 22 219 103 65 126 268 142 177 545 44 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 40,642 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% 57.33% Note: 1997, 1998, 2003, 2008 and 2013 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. 122 COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS School Name 2004 Acworth Intermediate (2001) Square Feet 131,924 Capacity 962 Enrollment 1,065 Addison (1989) Square Feet 72,192 Capacity 637 Enrollment 572 Argyle (1961) Square Feet 61,503 Capacity 562 Enrollment 625 Austell (2005) (formerly Austell Primary) Square Feet - Capacity - Enrollment - Baker (1988) Square Feet 106,668 Capacity 962 Enrollment 769 Bells Ferry (1963) Square Feet 54,862 Capacity 462 Enrollment 471 Belmont Hills (1952) Square Feet 67,106 Capacity 562 Enrollment 396 Big Shanty (1968) Square Feet 83,417 Capacity 837 Enrollment 784 Birney (1973) Square Feet 106,180 Capacity 912 Enrollment 805 Blackwell (1998) Square Feet 111,299 Capacity 837 Enrollment 753 Brown (1955) Square Feet 49,828 Capacity 412 Enrollment 256 Brumby (1966) Square Feet 99,181 Capacity 912 Enrollment 825 Bryant (1991) Square Feet 114,090 Capacity 962 Enrollment 1,126 Bullard (2003) Square Feet 136,261 Capacity 962 Enrollment 1,013 Chalker (1997) Square Feet 124,148 Capacity 962 Enrollment 889 Cheatham Hill (1997) Square Feet 122,260 Capacity 937 Enrollment 1,035 2005 131,924 962 1,139 72,192 637 564 61,503 562 738 - 106,668 962 768 54,862 462 520 67,106 562 371 83,417 837 740 106,180 912 864 111,299 837 727 49,828 412 256 99,181 912 850 114,090 962 1,197 136,261 962 1,129 124,148 962 931 122,260 937 1,013 2006 131,924 962 746 81,334 637 559 61,503 562 757 85,236 512 332 106,668 962 738 54,862 462 599 67,106 562 581 83,417 837 742 106,180 912 876 111,299 837 736 49,828 412 257 99,181 912 914 114,090 962 952 136,261 962 1,197 124,148 962 975 122,260 937 1,060 2007 131,924 962 757 81,334 637 563 61,503 562 763 85,236 512 350 106,668 962 811 54,862 462 618 67,106 562 663 83,417 837 783 106,180 912 923 111,299 837 766 49,828 412 256 99,181 912 865 114,090 962 912 136,261 962 1,188 124,148 962 956 122,260 937 1,112 2008 2009 2010 2011 131,924 962 808 81,334 637 591 61,503 562 666 85,236 512 324 106,668 962 772 54,862 462 621 67,106 562 656 83,417 837 785 106,180 912 863 111,299 837 723 49,828 412 246 99,181 912 802 114,090 962 818 136,261 962 1,234 124,148 962 885 122,260 937 1,105 131,924 962 870 81,334 637 583 61,503 562 654 85,236 512 326 106,668 962 806 54,862 462 580 67,106 562 612 83,417 837 851 106,180 912 751 111,299 837 710 49,828 412 264 99,181 912 860 114,090 962 797 136,261 962 1,109 124,148 962 838 122,260 937 1,090 131,924 962 853 81,334 637 557 61,503 562 662 85,236 512 309 106,668 962 819 54,862 462 586 67,106 562 619 83,417 837 859 106,180 912 710 111,299 837 722 49,828 412 292 99,181 912 954 114,090 962 802 136,261 962 1,046 124,148 962 849 122,260 937 1,084 131,924 962 830 81,334 637 587 61,503 562 652 85,236 512 320 106,668 962 809 54,862 462 604 67,106 562 534 83,417 837 825 106,180 912 750 111,299 837 735 49,828 412 297 99,181 912 963 114,090 962 771 136,261 962 997 124,148 962 816 122,260 937 1,115 2012 131,924 913 821 81,334 662 594 56,238 537 647 85,236 562 314 106,694 987 789 83,098 712 590 68,409 562 496 84,461 837 789 105,886 912 755 111,299 837 703 49,828 412 302 99,181 912 952 116,071 962 825 136,261 987 971 124,148 963 743 137,108 1,063 1,123 2013 131,924 913 832 81,334 662 596 56,238 537 641 85,236 562 470 106,694 987 761 83,098 712 585 68,409 562 481 84,461 837 759 105,886 912 768 111,299 837 703 49,828 412 285 99,181 912 1,000 116,071 962 962 136,261 987 933 124,148 963 683 137,108 1,063 1,149 123 COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS School Name 2004 Clarkdale (1963) (a) Square Feet 44,412 Capacity 362 Enrollment 446 Clarkdale Replacement (2012) Square Feet - Capacity - Enrollment - Clay (1961) Square Feet 51,930 Capacity 437 Enrollment 480 Compton (1969) Square Feet 100,586 Capacity 912 Enrollment 720 Davis (1987) Square Feet 87,763 Capacity 787 Enrollment 634 Dowell (1989) Square Feet 106,003 Capacity 962 Enrollment 897 Due West (1957) Square Feet 47,350 Capacity 437 Enrollment 500 East Side (1952) Square Feet 77,918 Capacity 787 Enrollment 830 East Side Replacement (2011) Square Feet - Capacity - Enrollment - Eastvalley (1960) Square Feet 58,150 Capacity 562 Enrollment 548 Fair Oaks (1957) Square Feet 60,283 Capacity 718 Enrollment 692 Ford (1991) Square Feet 91,129 Capacity 837 Enrollment 951 Frey (1996) Square Feet 124,148 Capacity 962 Enrollment 918 Garrison Mill (1984) Square Feet 85,775 Capacity 687 Enrollment 617 Green Acres (1996) Square Feet 90,915 Capacity 687 Enrollment 874 Harmony Leland (1951) Square Feet 68,564 Capacity 357 Enrollment 554 2005 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 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 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 2009 2010 2011 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 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 85,764 512 517 407 - 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 85,764 512 544 394 - 51,930 437 543 100,586 912 485 87,763 787 540 106,003 962 1,019 71,112 612 536 77,918 787 1,059 - 58,150 562 622 98,789 862 824 91,129 837 831 124,148 962 677 85,775 687 706 90,915 687 738 85,764 512 582 2012 2013 - - - - 391 - - 129,988 - 862 - 587 55,412 437 510 55,412 437 351 99,427 937 453 99,427 937 556 86,131 788 543 86,131 788 559 106,003 963 980 106,003 963 968 70,367 587 553 70,367 587 547 - - - - - - 149,764 1,087 1,119 149,764 1,087 1,221 60,029 562 638 60,029 562 661 97,993 863 837 97,993 863 831 91,129 862 753 91,129 862 713 125,717 963 693 125,717 963 737 85,775 688 723 85,775 688 716 90,915 688 785 90,915 688 866 65,127 512 591 65,127 512 678 Continued--- 124 COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS School Name 2004 2005 Hayes (1993) Square Feet 117,579 117,579 Capacity 962 962 Enrollment 952 995 Hendricks (2001) (formerly Austell Intermediate) Square Feet 123,000 123,000 Capacity 962 962 Enrollment 841 847 Hollydale (1968) Square Feet 89,995 89,995 Capacity 812 812 Enrollment 847 854 Keheley (1986) Square Feet 68,030 68,030 Capacity 587 587 Enrollment 559 547 Kemp (2002) Square Feet 123,000 123,000 Capacity 962 962 Enrollment 891 868 Kennesaw (1991) Square Feet 113,828 113,828 Capacity 962 962 Enrollment 773 868 Kincaid (1972) Square Feet 81,752 81,752 Capacity 762 762 Enrollment 603 606 King Springs (1956) Square Feet 58,785 58,785 Capacity 562 562 Enrollment 594 589 LaBelle (1955) Square Feet 58,505 58,505 Capacity 537 537 Enrollment 504 497 Lewis (1986) Square Feet 106,218 106,218 Capacity 946 946 Enrollment 1,006 1,074 Mableton (1950) Square Feet 47,426 47,426 Capacity 412 412 Enrollment 466 483 Mableton Replacement (2012) Square Feet - - Capacity - - Enrollment - - McCall Primary (2005) Square Feet - - Capacity - - Enrollment - - Milford (1954) Square Feet 64,168 64,168 Capacity 612 612 Enrollment 578 601 Mount Bethel (1978) Square Feet 105,016 105,016 Capacity 912 912 Enrollment 983 946 Mountain View (1986) Square Feet 102,725 102,725 Capacity 862 862 Enrollment 793 785 2006 117,579 962 1,139 123,000 962 599 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 2007 117,579 962 1,091 123,000 962 633 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 2008 2009 2010 2011 117,579 962 1,080 123,000 962 618 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 69,776 612 653 105,016 912 960 102,725 862 819 117,579 962 1,061 123,000 962 598 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 1,002 102,725 862 829 117,579 962 1,116 123,000 962 576 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 1,029 102,725 862 833 117,579 962 1,078 123,000 962 565 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 2012 119,189 962 1,020 123,025 962 603 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 2013 119,189 962 985 123,025 962 584 89,012 862 693 70,537 588 473 123,000 962 964 116,400 962 714 83,969 762 730 59,658 587 792 82,912 688 476 115,363 962 749 - 148,523 962 943 88,158 562 431 73,352 612 559 110,096 937 984 102,725 887 840 125 COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS School Name 2004 Murdock (1975) Square Feet Capacity Enrollment Nicholson (1990) Square Feet Capacity Enrollment Nickajack (1998) Square Feet Capacity Enrollment Norton Park (1961) Square Feet Capacity Enrollment Pickett's Mill (2008) Square Feet Capacity Enrollment Pitner (2003) Square Feet Capacity Enrollment Powder Springs (1988) Square Feet Capacity Enrollment Powers Ferry (1951) Square Feet Capacity Enrollment Riverside Primary (2005) Square Feet Capacity Enrollment Riverside Intermediate (2001) Square Feet Capacity Enrollment Rocky Mount (1977) Square Feet Capacity Enrollment Russell (1961) Square Feet Capacity Enrollment Sanders (1997) Square Feet Capacity Enrollment Sedalia Park (1956) Square Feet Capacity Enrollment Shallowford Falls (1990) Square Feet Capacity Enrollment Sky View (1957) (b) Square Feet Capacity Enrollment 85,542 687 812 75,800 637 580 114,350 837 779 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 2005 85,542 687 816 75,800 637 573 114,350 837 810 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 2006 85,442 687 845 75,800 637 563 114,350 837 828 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 2007 123,233 962 836 75,800 637 541 114,350 837 785 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 2008 2009 2010 2011 123,233 962 846 75,800 637 511 114,350 837 670 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 50,270 462 387 123,233 962 875 75,800 637 521 114,350 837 725 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 50,270 462 409 123,233 962 861 75,800 637 527 114,350 837 815 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 50,270 462 399 123,233 962 823 75,800 637 497 114,350 837 904 87,301 787 730 136,261 962 717 135,800 962 945 101,870 887 811 56,104 462 490 85,236 512 491 123,000 962 871 78,720 587 629 101,862 962 703 116,302 862 872 101,125 887 804 112,947 962 690 50,270 462 373 2012 2013 123,233 962 825 123,233 962 830 75,800 637 513 75,800 637 511 122,342 937 960 122,342 937 1,055 87,935 837 708 87,935 837 788 139,090 963 707 139,090 963 723 136,261 962 942 136,261 962 937 101,870 888 802 101,870 888 783 59,190 462 468 59,190 462 467 85,236 562 561 85,236 562 681 123,000 962 925 123,000 962 1,107 71,408 612 613 71,408 612 614 103,369 962 693 103,369 962 728 116,302 862 903 116,302 862 829 99,735 888 816 99,735 888 828 112,620 962 674 112,620 962 658 50,270 - 462 - 400 - Continued--- 126 COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS School Name Sope Creek (1978) Square Feet Capacity Enrollment Still (1978) Square Feet Capacity Enrollment 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 2004 106,348 962 1,135 82,687 612 594 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 2005 106,348 962 1,104 82,687 612 579 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 2006 106,348 962 1,070 82,687 612 625 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 2007 106,348 962 1,093 121,289 962 670 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 2008 2009 2010 2011 106,348 962 1,078 121,289 962 687 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 1,130 106,348 962 1,064 121,289 962 750 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 1,183 106,348 962 1,142 121,289 962 775 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 1,241 106,348 962 1,159 121,289 962 776 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 2012 133,344 1,162 1,142 116,074 963 764 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 2013 133,344 1,162 1,157 116,074 963 768 55,944 487 718 73,450 612 615 109,769 937 926 109,827 962 742 122,260 937 676 156,660 1,037 848 178,465 1,162 966 207,172 1,338 1,278 170,905 1,162 942 177,356 1,163 977 166,048 1,187 1,212 183,798 1,212 1,185 173,487 1,162 1,093 186,961 1,362 1,273 127 COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS School Name 2004 2005 2006 2007 Floyd (1964) Square Feet 120,788 120,560 166,551 Capacity 812 812 1,162 Enrollment 957 929 998 Garrett (1972) Square Feet 122,329 122,329 122,329 Capacity 812 812 812 Enrollment 882 847 923 Griffin (1972) Square Feet 122,698 122,698 186,947 Capacity 747 747 1,162 Enrollment 1,009 993 1,095 Hightower Trail (1993) Square Feet 141,264 141,264 141,264 Capacity 987 987 987 Enrollment 1,000 946 966 Lindley 6th Grade Academy (1962) (formerly Barnes Education Center) Square Feet 114,635 114,635 114,635 Capacity 787 787 787 Enrollment (b) 241 455 230 Lindley (2001) Square Feet 179,170 179,170 179,170 Capacity 1,162 1,162 1,162 Enrollment 1,358 1,407 1,354 Lost Mountain (1992) Square Feet 137,027 137,027 137,027 Capacity 987 987 987 Enrollment 1,498 1,513 1,576 Lovinggood (2006) Square Feet - - - Capacity - - - Enrollment - - - Mabry (1978) Square Feet 113,212 113,212 158,434 Capacity 868 868 1,137 Enrollment 893 882 848 McCleskey (1983) Square Feet 113,525 113,525 113,525 Capacity 837 837 837 Enrollment 826 858 822 McClure (2006) Square Feet - - - Capacity - - - Enrollment - - - Palmer (2001) Square Feet 175,345 175,345 175,345 Capacity 1,162 1,162 1,162 Enrollment 1,285 1,264 1,173 Pine Mountain (1979) Square Feet 119,076 119,076 119,076 Capacity 792 792 792 Enrollment 1,213 1,212 1,261 Simpson (1988) Square Feet 110,000 110,000 110,000 Capacity 837 837 837 Enrollment 917 885 844 Smitha (1993) Square Feet 141,596 141,596 141,596 Capacity 987 987 987 Enrollment 1,285 1,292 1,306 Tapp (1975) Square Feet 157,435 157,435 157,435 Capacity 1,137 1,137 1,137 Enrollment 1,086 1,067 1,074 166,551 1,162 894 122,329 812 894 186,947 1,162 1,064 149,038 1,012 1,020 114,635 787 260 179,170 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 2008 166,551 1,162 882 122,329 812 909 186,947 1,162 993 149,038 1,012 986 114,635 787 198 179,170 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 2009 166,551 1,162 812 122,329 812 898 186,947 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 2010 166,551 1,162 819 122,329 812 862 186,947 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 2011 166,551 1,162 821 122,329 812 901 186,947 1,162 959 149,038 1,012 963 114,635 787 493 179,170 1,162 916 164,107 1,162 1,105 178,465 1,162 1,182 158,434 1,137 864 113,525 837 692 191,209 1,162 1,167 175,345 1,162 1,042 131,459 887 738 110,000 837 843 167,815 1,137 907 157,435 1,137 661 2012 2013 166,551 1,112 870 166,551 1,112 865 122,329 812 853 152,212 963 854 186,947 1,162 1,064 186,947 1,162 1,154 149,038 1,012 956 149,038 1,012 992 111,260 788 523 111,260 788 542 179,170 1,162 1,041 179,170 1,162 1,072 165,107 1,137 1,016 165,107 1,137 939 175,345 1,162 1,214 175,345 1,162 1,339 160,581 1,162 849 160,581 1,162 847 113,525 937 668 149,577 937 678 191,209 1,163 1,138 191,209 1,163 1,092 175,974 1,162 999 175,974 1,162 963 131,399 887 725 169,809 912 706 110,000 837 862 138,902 962 876 169,345 1,137 968 169,345 1,137 995 157,435 1,137 724 157,435 1,137 761 Continued--- 128 COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS School Name Allatoona (2008) Square Feet Capacity Enrollment Campbell (1963) Square Feet Capacity Enrollment Harrison (1991) Square Feet Capacity Enrollment Hillgrove (2006) Square Feet Capacity Enrollment Kell (2002) Square Feet Capacity Enrollment Kennesaw Mountain (2000) Square Feet Capacity Enrollment Lassiter (1981) Square Feet Capacity Enrollment McEachern (1930) Square Feet Capacity Enrollment North Cobb (1957) Square Feet Capacity Enrollment Osborne (1961) Square Feet Capacity Enrollment Pebblebrook (1963) Square Feet Capacity Enrollment Pope (1987) Square Feet Capacity Enrollment South Cobb (1951) Square Feet Capacity Enrollment Sprayberry (1973) Square Feet Capacity Enrollment Walton (1975) Square Feet Capacity Enrollment Wheeler (1964) Square Feet Capacity Enrollment 2004 - 317,515 2,262 1,976 235,445 1,837 2,119 - 323,000 1,912 1,526 319,000 1,987 2,671 274,704 2,137 2,221 416,201 2,362 3,085 252,105 2,087 2,123 248,979 1,494 1,579 225,782 1,307 1,532 246,405 1,862 1,907 271,378 1,662 1,944 281,542 2,112 1,769 276,781 1,950 2,440 270,744 1,762 1,771 2005 - 317,515 2,262 2,093 235,445 1,837 2,285 - 323,000 1,912 1,809 319,000 1,987 2,858 274,704 2,137 2,105 416,201 2,362 3,304 252,105 2,087 2,164 289,269 1,688 1,560 266,330 1,483 1,566 246,405 1,862 1,961 271,378 1,662 2,005 281,542 2,112 1,766 276,781 1,950 2,533 270,744 1,762 1,807 2006 - 317,515 2,262 2,128 235,445 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 2,336 337,114 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 2007 - 317,515 2,262 2,145 235,445 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 2,531 337,114 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 2009 2010 2011 - 370,042 2,637 2,087 235,445 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 2,577 332,614 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 1,797 328,370 1,912 845 370,042 2,637 2,093 235,445 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 2,501 332,614 2,062 1,643 318,655 1,862 1,993 246,365 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 1,877 328,370 1,912 1,341 370,042 2,637 2,144 235,445 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 2,460 332,614 2,062 1,722 318,655 1,862 1,988 246,365 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 1,981 328,370 1,912 1,554 370,042 2,637 2,224 235,445 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 2,524 332,614 2,062 1,671 318,655 1,862 1,957 246,365 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 325,200 1,912 1,762 374,180 2,637 2,105 243,215 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 2,566 328,000 2,062 1,558 319,768 1,788 1,824 260,606 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 2013 325,200 1,912 1,717 374,180 2,637 2,188 243,215 1,837 1,918 319,000 1,987 2,065 321,068 1,987 1,526 319,000 1,987 2,121 310,950 2,112 1,944 504,107 2,362 2,174 406,817 2,787 2,533 328,000 2,062 1,701 319,768 1,788 1,990 260,606 1,912 1,725 388,425 2,612 1,898 297,400 2,062 1,741 307,655 2,312 2,574 318,504 1,837 1,948 129 COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS School Name 2004 2005 Oakwood (1944) Square Feet 93,612 93,612 Capacity 462 462 Enrollment 271 235 Performance Learning Center (located at Oakwood) Enrollment - - Hawthorne (Haven) (1958) (c) Square Feet 32,500 32,500 Capacity 312 312 Enrollment 187 165 Fitzhugh Lee (Haven) (1935)(c) Square Feet 35,684 35,684 Capacity 312 312 Enrollment - - Kennesaw Charter (d) Enrollment 385 435 Mableton Charter (d) Enrollment - - International Academy of Smyrna (d) Enrollment - - Devereux Georgia (d) Enrollment - - 2006 93,612 462 219 - 32,500 312 182 35,684 312 - 436 - - - 2007 93,612 462 288 - 32,500 312 170 35,684 312 - 540 - - 132 2008 2009 2010 2011 93,612 462 286 - 32,500 312 156 35,684 312 - 495 569 414 108 93,612 520 192 58 32,500 312 158 35,684 312 - 504 595 438 115 93,612 462 156 47 32,500 312 160 35,684 312 - 437 472 580 105 93,612 462 175 76 32,500 312 99 35,684 312 42 515 529 744 96 2012 2013 93,858 462 79 93,858 462 70 57 59 32,500 312 88 32,500 312 77 35,684 312 43 35,684 312 39 614 782 526 - 793 943 62 75 Concluded. (a) Original Clarkdale building destroyed by flood fall 2009. Clarkdale Replacement school opened for school year 2012-13. (b) Sky View Elementary converted to Sky View Adminstrative Facility at the end of school year 2011-12. (c) Haven @ Fitzhugh Lee enrollment is included with Hawthorne until school year 2010-11. (d) Operated by a nonprofit, enrollment reported by CCSD; buildings do not belong to CCSD. Mableton Charter closed May 2012. Beginning 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 130 COBB COUNTY SCHOOL DISTRICT TEACHERS' SALARY SCHEDULE LAST TEN FISCAL YEARS $90,000 Teachers' Salary Range $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 2004 2005 2006 2007 2008 2009 Minimum 2010 Maximum 2011 2012 2013 Fiscal Year 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Minimum $ 34,542 35,233 35,938 37,160 39,140 39,962 38,958 38,958 38,958 38,958 Maximum $ 72,861 76,206 77,730 80,374 82,435 84,204 82,088 82,088 82,088 82,088 Cobb Average $ 46,775 47,191 49,854 51,239 52,977 54,286 53,320 54,168 53,770 54,323 Note: Minimum reflects T-4 Certification, Step 1; Maximum is T-7 Doctorate, Step 30+. Source: District Salary Schedules Governor's Office of Achievement State-wide Average $ 45,848 46,437 48,247 49,836 51,466 52,823 53,155 52,830 53,002 52,956 131 COBB COUNTY SCHOOL DISTRICT ADMINISTRATIVE SALARY SCHEDULE JUNE 30, 2013 $250,000 $225,000 $200,000 $175,000 $150,000 $125,000 $100,000 $75,000 $50,000 $25,000 $0 Administrative Salary Range 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 Maximum Minimum $ 237,000 108,748 83,145 90,638 76,100 90,574 85,181 80,808 Maximum $ 237,000 135,000 101,928 115,512 104,856 113,947 109,049 108,823 132 COBB COUNTY SCHOOL DISTRICT SCHEDULE OF INSURANCE IN FORCE JUNE 30, 2013 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 Core Plan Option 2 Core Plan benefits plus $115/wk Option 3 Core Plan benefits plus $231/wk Option 4 Core Plan benefits plus $346/wk Option 5 Core Plan benefits plus $462/wk Life Insurance and AD&D Self Insured Self Insured Travelers #103317698 Self Insured Travelers KTJ-CMB-1849M21-A-10 Sentry Life Ins/The Young Group 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 7/1/2012 6/30/2013 $7,500,000 6/1/1994 Ongoing $500,000 7/1/2012 6/30/2013 $500,000,000 8/1/2012 8/1/2013 Varies 7/1/2012 7/1/2013 $100,000 8/1/2012 8/1/2013 $10,000 N/A 1/1/13 N/A Statutory 12/31/13 Benefit Schedule per salary 1/1/13 1/1/13 1/1/13 1/1/13 1/1/13 1/1/13 12/31/13 Benefit up to 66 2/3% of weekly earnings. 12/31/13 Benefit up to 66 2/3% of weekly earnings. 12/31/13 Benefit up to 66 2/3% of weekly earnings. 12/31/13 Benefit up to 66 2/3% of weekly earnings. 12/31/13 Benefit up to 66 2/3% of weekly earnings. 12/31/13 Benefit Schedule per salary N/A N/A $17,676 N/A $453,254 Student/Parent Funded $350 $3,990 N/A $1,246,795 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 1/1/13 12/31/13 Benefit Schedule per salary 1/1/13 12/31/13 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. 1/1/13 12/31/13 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 --133 COBB COUNTY SCHOOL DISTRICT SCHEDULE OF INSURANCE IN FORCE JUNE 30, 2013 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 Preferred Plus Plan Allstate Insurance Policy #V1935 Policy #V1935 Policy #V1935 Avesis 9155NC Base Plan 9155NC Legal Insurance ARAG Group Policy #17840-001 Policy Period From To Liability Limits Annual Premium 1/1/13 12/31/13 Base Plan has co-pays Monthly - employee pays $10.53 for for Preventative and single coverage or $28.84 for family Diagnostic services with coverage. a maximum of $750 coverage per participant per calendar year. 1/1/13 12/31/13 Based on Benefit Schedule 1/1/13 12/31/13 Based on Benefit Schedule 1/1/13 12/31/13 Based on Benefit Schedule Monthly - employee pays rates Single coverage is $7.06; family coverage is $11.66. Single coverage is $10.26; family coverage is $17.42. Single coverage is $14.48; family coverage is $24.84. Monthly - employee pays rates: Single coverage is $1.08 per month; coverage for employee plus one family member is $1.90, and family coverage is $2.80 each month. Single coverage is $4.72; coverage for employee plus one family member is $8.82, and family coverage is $13.36 each month. Monthly - employee pays $12.27 for single coverage or $15.23 for family Coverage. Concluded. Source: District Records 134 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 2004 2005 2006 Meals Served 2007 2008 Lunch 2009 2010 Breakfast 2011 2012 2013 (amounts expressed in thousands) Lunch Meals Served: Free Reduced Paid Total Daily Average Student Price 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 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 6,259 805 4,489 11,553 65 $2.15-$2.40 Breakfast Meals Served: Free Reduced Paid Total Daily Average Student Price 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 2,827 231 407 3,465 20 $1.25 Total Meals Served: Free Reduced Paid Total Daily Average Source: District Records 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 9,086 1,036 4,896 15,018 85 135 COBB COUNTY SCHOOL DISTRICT NUMBER OF SCHOOLS LAST TEN FISCAL YEARS Number of Schools 120 110 100 90 80 70 60 50 High Middle 40 Elementary 30 20 10 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Fiscal Year 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Elementary 65 65 68 68 68 68 68 68 68 67 Middle 21 21 22 24 24 25 25 25 25 25 High 16 16 16 17 17 17 17 16 16 16 Note: Sky View Elementary converted to administrative building in June 2012. Source: District Records Total 102 102 106 109 109 110 110 109 109 108 136 COBB COUNTY SCHOOL DISTRICT NUMBER OF HIGH SCHOOL GRADUATES AND AVERAGE DAILY ENROLLMENT AND ATTENDANCE LAST TEN FISCAL YEARS 110,000 109,000 108,000 107,000 106,000 105,000 104,000 103,000 102,000 101,000 100,000 Cobb County School District Average Daily Enrollment Fiscal Year 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Average Daily Enrollment 101,584 103,061 104,901 107,082 106,734 106,256 106,835 106,868 106,944 108,240 Average Daily Attendance 96,795 98,567 100,432 102,648 102,497 102,144 102,444 102,732 103,008 103,857 Attendance Percentage 95.29% 95.64% 95.74% 95.86% 96.03% 96.13% 95.89% 96.13% 96.32% 95.95% Number of Graduates 5,928 6,267 6,413 6,522 6,765 7,126 7,177 7,350 7,192 7,425 Graduate Percentage 95.77% 94.06% 94.41% 92.91% 91.85% 98.36% 97.61% 93.91% 99.41% 99.48% Note: Number of Graduates divided by Grade 12 Active Enrollment from page 138, includes Special Ed students. Source: District Records 137 COBB COUNTY SCHOOL DISTRICT ACTIVE ENROLLMENT BY GRADE LEVEL LAST TEN FISCAL YEARS 120,000 100,000 80,000 60,000 40,000 20,000 0 2004 2005 Active Enrollment By Grade Level 2006 2007 2008 2009 2010 2011 2012 Grade 12 Grade 11 Grade 10 Grade 9 Grade 8 Grade 7 Grade 6 Grade 5 Grade 4 Grade 3 Grade 2 Grade 1 Pre-K and K 2013 Fiscal Year 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Pre-K and K 9,077 9,255 9,611 9,604 9,065 8,874 9,262 9,253 9,159 9,523 Grade 1 7,576 7,750 7,993 8,246 8,260 8,142 8,029 8,292 8,189 8,297 Grade Grade Grade Grade 2 3 4 5 7,522 7,823 7,767 8,021 7,764 7,766 7,972 7,977 8,012 8,013 7,964 8,141 8,061 8,303 7,921 8,229 8,262 8,233 8,052 8,037 8,176 8,298 8,147 8,189 8,286 8,285 8,291 8,230 8,001 8,369 8,166 8,344 8,303 8,184 8,330 8,284 8,296 8,422 8,191 8,495 Grade 6 7,902 8,130 8,031 8,069 8,035 7,812 8,131 8,077 8,155 8,242 Grade 7 8,206 8,071 8,264 8,132 8,143 7,973 7,822 8,165 8,186 8,249 Grade 8 8,286 8,287 8,201 8,280 8,187 8,254 8,007 7,868 8,154 8,229 Grade 9 8,555 9,114 9,141 8,950 8,928 8,810 9,850 9,804 9,437 9,637 Grade Grade Grade 10 11 12 7,512 6,912 6,190 7,610 6,926 6,663 8,101 7,217 6,793 8,171 7,586 7,020 8,083 7,406 7,365 8,331 7,491 7,245 7,391 7,551 7,353 8,121 6,549 7,827 8,021 6,865 7,235 7,938 6,931 7,464 Total 101,349 103,285 105,482 106,572 106,056 105,742 106,488 106,836 106,502 107,914 Source: District Records 138 COBB COUNTY SCHOOL DISTRICT CLASSROOM BUILDINGS, GRADE LEVELS AND ACREAGE JUNE 30, 2013 School Name Grades Acworth Intermediate 2-5 Addison K-5 Argyle K-5 Austell (formerly Primary) K-5 Baker K-5 Bells Ferry K-5 Belmont Hills K-5 Big Shanty 3-5 Birney K-5 Blackwell K-5 Brown K-5 Brumby K-5 Bryant K-5 Bullard K-5 Chalker K-5 Cheatham Hill K-5 Clarkdale Replacement K-5 Clay K-5 Compton K-5 Davis K-5 Dowell K-5 Due West K-5 East Side K-5 Eastvalley K-5 Fair Oaks K-5 Ford K-5 Frey K-5 Garrison Mill K-5 Green Acres K-5 Harmony Leland K-5 Hayes K-5 Hendricks (formerly Austell Intermedi K-5 Hollydale K-5 Keheley K-5 Kemp K-5 Kennesaw K-2 Kincaid K-5 King Springs K-5 LaBelle K-5 Lewis K-5 Mableton Replacement K-5 McCall Primary K-1 Milford K-5 Mount Bethel K-5 Mountain View K-5 Murdock K-5 Nicholson K-5 Nickajack K-5 Norton Park K-5 Pickett's Mill K-5 Pitner K-5 Powder Springs K-5 Powers Ferry K-5 Riverside Primary K-1 Riverside Intermediate 2-5 Rocky Mount K-5 Russell K-5 Sanders K-5 Sedalia Park K-5 Shallowford Falls K-5 Sope Creek K-5 Still K-5 Active Enrollment 832 596 641 470 761 585 481 759 768 703 285 1,000 962 933 683 1,149 587 351 556 559 968 547 1,221 661 831 713 737 716 866 678 985 584 693 473 964 714 730 792 476 749 943 431 559 984 840 830 511 1,055 788 723 937 783 467 681 1,107 614 728 829 828 658 1,157 768 Size of Site (acres) 15.0 12.5 8.8 12.4 15.0 10.0 10.2 22.3 26.8 16.0 6.2 9.5 44.0 20.0 25.5 19.2 15.0 8.0 28.3 13.0 28.9 10.2 10.0 7.8 10.3 39.0 26.2 14.1 10.1 8.4 24.2 23.0 15.0 20.7 26.2 20.7 24.0 9.9 10.2 10.9 12.1 6.0 8.7 25.0 13.0 15.3 23.1 16.8 9.2 40.9 22.2 15.9 10.0 9.0 18.4 21.8 14.1 21.1 10.2 15.3 16.0 10.9 Occupied Year (a) 2001 1989 1961 2005 1988 1963 1952 1968 1973 1998 1955 1966 1991 2003 1997 1997 2012 1961 1969 1987 1989 1957 2011 1960 1957 1991 1996 1984 1996 1951 1993 2001 1968 1986 2002 1991 1972 1956 1955 1986 2012 2005 1954 1978 1986 1975 1990 1998 1961 2008 2003 1988 1951 2005 2001 1977 1961 1997 1956 1990 1978 1978 Number of Classrooms 59 42 36 36 63 45 36 52 59 52 24 56 61 63 62 68 53 29 60 50 62 38 69 36 54 53 62 44 44 33 61 61 53 38 61 61 48 37 44 61 61 36 40 60 55 61 40 60 52 62 61 57 30 36 61 39 61 53 57 61 73 62 Portable Classrooms 15 1 12 3 6 9 3 4 5 6 1 - Square Footage 131,924 81,334 56,238 85,236 106,694 83,098 68,409 84,461 105,886 111,299 49,828 99,181 116,071 136,261 124,148 137,108 129,988 55,412 99,427 86,131 106,003 70,367 149,764 60,029 97,993 91,129 125,717 85,775 90,915 65,127 119,189 123,025 89,012 70,537 123,000 116,400 83,969 59,658 82,912 115,363 148,523 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 99,735 112,620 133,344 116,074 Capacity 913 662 537 562 987 712 562 837 912 837 412 912 962 987 963 1,063 862 437 937 788 963 587 1,087 562 863 862 963 688 688 512 962 962 862 588 962 962 762 587 688 962 962 562 612 937 887 962 637 937 837 963 962 888 462 562 962 612 962 862 888 962 1,162 963 139 COBB COUNTY SCHOOL DISTRICT CLASSROOM BUILDINGS, GRADE LEVELS AND ACREAGE JUNE 30, 2013 School Name Teasley Timber Ridge Tritt Varner Vaughan Awtrey Barber Campbell Cooper Daniell Dickerson Dodgen Durham East Cobb Floyd Garrett Griffin Hightower Trail Lindley 6th Grade Academy Lindley Lost Mountain Lovinggood Mabry McCleskey McClure Palmer Pine Mountain Simpson Smitha Tapp Allatoona Campbell Harrison Hillgrove Kell Kennesaw Mountain Lassiter McEachern North Cobb Osborne Pebblebrook Pope South Cobb Sprayberry Walton Wheeler Oakwood Performance Learning Ctr (b) Hawthorne (Haven) Fitzhugh Lee (Haven) Kennesaw Charter (c) Smyrna Charter (c) Devereux Georgia (c) TOTALS Grades K-5 K-5 K-5 K-5 K-5 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6 7-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 6-8 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 9-12 Altrntv Altrntv K-6 K-8 1-12 Active Enrollment 718 615 926 742 676 848 966 1,278 942 977 1,212 1,185 1,093 1,273 865 854 1,154 992 542 1,072 939 1,339 847 678 1,092 963 706 876 995 761 1,717 2,188 1,918 2,065 1,526 2,121 1,944 2,174 2,533 1,701 1,990 1,725 1,898 1,741 2,574 1,948 70 59 77 39 782 943 75 107,914 Size of Site (acres) 13.2 11.5 23.7 20.0 28.0 26.2 25.8 33.2 75.1 20.0 21.9 20.6 43.0 20.0 20.0 36.6 24.4 26.4 28.7 33.3 83.8 29.4 22.0 34.8 38.0 43.1 39.7 16.5 21.8 16.9 114.7 47.9 73.0 95.0 63.1 75.0 49.3 74.9 46.8 50.7 52.5 47.0 54.4 41.3 43.3 48.8 10.0 Occupied Year (a) 1961 1990 1979 1990 1996 1965 2005 1951 2001 1966 1981 1975 1998 1963 1964 1972 1972 1993 1962 2001 1992 2006 1978 1983 2006 2001 1979 1988 1993 1975 2008 1963 1991 2006 2002 2000 1981 1930 1957 1961 1963 1987 1951 1973 1975 1964 1944 Number of Classrooms 32 39 60 61 60 64 71 84 71 72 73 74 71 83 68 60 70 62 45 71 70 71 71 58 72 71 57 56 70 70 99 135 94 102 102 102 108 127 143 106 93 98 134 106 119 95 43 6.2 1958 18 7.0 1935 17 2,999.7 7,076 Portable Classrooms 9 3 2 5 36 - 2 2 124 Square Footage 55,944 73,450 109,769 109,827 122,260 156,660 178,465 207,172 170,905 177,356 166,048 183,798 173,487 186,961 166,551 152,212 186,947 149,038 111,260 179,170 165,107 175,345 160,581 149,577 191,209 175,974 169,809 138,902 169,345 157,435 325,200 374,180 243,215 319,000 321,068 319,000 310,950 504,107 406,817 328,000 319,768 260,606 388,425 297,400 307,655 318,504 93,858 32,500 35,684 Capacity 487 612 937 962 937 1,037 1,162 1,338 1,162 1,163 1,187 1,212 1,162 1,362 1,112 963 1,162 1,012 788 1,162 1,137 1,162 1,162 937 1,163 1,162 912 962 1,137 1,137 1,912 2,637 1,837 1,987 1,987 1,987 2,112 2,362 2,787 2,062 1,788 1,912 2,612 2,062 2,312 1,837 462 312 312 16,610,048 119,665 (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) Performance Learning Center is housed at Oakwood. (c) Operated by unaffiliated non-profit entities. Enrollment reported by CCSD; buildings do not belong to CCSD. Source: District Records 140