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Comprehensive Annual Financial Report
Fiscal Year Ended June 30, 2015
PREPARED BY: COBB COUNTY BOARD OF EDUCATION
FINANCIAL SERVICES DIVISION BRADLEY REUBEN JOHNSON, CHIEF FINANCIAL OFFICER
514 Glover Street Marietta, Georgia 30060
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COBB COUNTY SCHOOL DISTRICT COMPREHENSIVE ANNUAL FINANCIAL REPORT
TABLE OF CONTENTS FOR THE YEAR ENDED JUNE 30, 2015
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-iv v vi vii viii ix x
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
Required Supplementary Information
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
PAGE 21
22
23 24 25 26 27 28-64 65-72
73-75 76-80 81-85
86-104 105
Combining Statement of Fund Net Position - Internal Service Funds Combining Statement of Revenues, Expenses, and Changes in Fund Net Position - Internal Service Funds Combining Statement of Cash Flows - Internal Service Funds 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 III - Special Purpose Local Option Sales Tax Projects SPLOST IV - 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, 2014 and Nine Years Ago
PAGE 106
107 108 109
110
111
112-113 114-115
116 117-118 119-120 121-122
123-124 125
126 127 128
Legal Debt Margin Information Last Ten Fiscal Years
Legal Debt Margin Information Fiscal Year 2015 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 Calendar 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 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 129
130 131
132 133
134 135 136
137 138
139 140 141 142
143 144 145-152 153 154
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 155-156
157 158
159 160 161-162
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One Team, One Goal: Student Success
514 Glover Street Marietta, GA 30060 Telephone: (770) 426-3300 www.cobbk12.org
November 20, 2015 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, 2015. This report conforms to generally accepted accounting principles as applicable to governmental entities. The Financial Services Division prepared this report. Responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation, including all disclosures, rests with the District's administration and is presented for your careful review.
We believe the data, as presented, is accurate in all material aspects; that it is presented in a manner designed to fairly set forth the financial position and results of operations of the District as measured by the financial activity of its various funds; and that all disclosures necessary to enable the reader to gain the maximum understanding of the District's financial activity have been included. A comprehensive framework of internal control is in place to give reasonable assurance that the financial statements are free of any material misstatements. Because the cost of internal controls should not exceed anticipated benefits, the objective is to provide reasonable, rather than absolute, assurance that the financial statements are free of any material misstatements.
Readers of this report are encouraged to consider the information presented here in conjunction with additional information presented in the Management's Discussion and Analysis beginning on page five of this report.
____________________________________________________________________________________
PROFILE OF THE SCHOOL DISTRICT ____________________________________________________________________________________
Cobb County School District is one of two public school districts located in Cobb County, Georgia. The District serves the entire county area with the exception of the City of Marietta, which has its own independent school district. It provides a program of public education from kindergarten through grade twelve. The purpose and responsibility of the District is to provide a thorough and efficient educational system for the children enrolled in public schools within its boundaries whereby each child has access to programs and services that are appropriate to his or her educational needs.
The District is the second largest school system in Georgia and the 24th largest in the United States with an active daily enrollment of 111,060. The District is governed by a Board of Education consisting of seven members elected from seven county posts. Members serve four-year terms and each year appoint
BOARD OF EDUCATION SUPERINTENDENT
Randy Scamihorn, Chair Brad Wheeler, Vice Chair Susan Thayer David Morgan David Chastain David Banks Scott Sweeney
Chris Ragsdale
a chairperson and vice-chairperson. The Board appoints a Superintendent to oversee the day-to-day administration of the School District.
Mr. Chris Ragsdale currently serves as the Superintendent of the Cobb County School District. Prior to his appointment in February of 2015, he served as Interim Superintendent from May, 2014, through January, 2015. Mr. Ragsdale also previously served as the Deputy Superintendent for Operations and as the Chief Technology Officer. During his tenure with the District, he has managed plant operations, provided oversight for the District's technology integration, and been responsible for planning and execution of capital projects approved by Cobb voters and funded by the Special Purpose Local Option Sales Tax. Mr. Ragsdale holds a Bachelor of Science in Information Systems and a Master's Degree in Educational Leadership, both from Kennesaw State University. He is also the recipient of Kennesaw State University's Distinguished Alumni Award. The award recognizes his extraordinary professional achievements; engagement in civic and community activities; support of the KSU community; and the ways in which he exemplifies the ideals and mission of Kennesaw State University.
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 2015 fiscal year:
The District average SAT score of 1516 is 66 points higher than the state average and 26 points higher than the national average. 79% of 2015 graduates took the SAT.
In 2012, 2013, and 2014, 15 Cobb high schools were recognized by the Georgia Department of Education as Advanced Placement Honor Schools. The program recognizes Georgia schools that have increased access to rigorous Advance Placement coursework. Participation in challenging Advanced Placement courses has grown 184% within the District since 2004.
The four-year graduation rate for Cobb high schools improved to 81.4% in 2015, marking the fourth consecutive year the overall graduation rate has increased. Cobb exceeds the state graduation rate of 78.8% by 2.6%.
Cobb has a distinguished faculty, with 62% of Cobb teachers holding advanced degrees.
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 of the General Fund and Special Revenue Funds are included in the annual appropriated budget. Capital Projects Funds are budgeted on a multi-year, project-length basis. 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.
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____________________________________________________________________________________
ECONOMIC CONDITION AND OUTLOOK ____________________________________________________________________________________
The District is located in the northwest quadrant of the Atlanta metropolitan area. Metropolitan Atlanta is a national center for finance, transportation, distribution and communications. In 2014 (most recent figures available), Cobb County had one of the metropolitan area's highest median household incomes at $68,656, an unemployment rate of 6.0%, and a growing population which increased from 646,754 in 2005 to 730,981 in 2014. Student enrollment for the 2015 fiscal year was 111,060.
We are pleased by the positive increase in property values in fiscal year 2015 and expect this trend to continue into fiscal year 2016. In fiscal year 2015 the District's gross property digest increased by 3.5% over the 2014 fiscal year's digest as compared to a decrease of 3.2% the previous year and a total decrease of 14.8% over the last five years.
In regards to state funding, the District experienced a $45.8 million reduction in state funding in 2015 due to austerity cuts. This was $20.1 million less than last year's $65.9 million austerity cut, a reduction of 30.5% We expect an even further reduction in austerity cuts in fiscal year 2016.
____________________________________________________________________________________
LONG-TERM FINANCIAL PLANNING ____________________________________________________________________________________
The District anticipates meeting its projected capital improvement needs through December 2018 by means of county sales tax revenues. In March 2013, the citizens of Cobb County voted to renew a onepercent 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 ages can be found on pages 145 through 152, in the statistical section. ____________________________________________________________________________________
OTHER INFORMATION ____________________________________________________________________________________
New Educational Model: The Cobb County School District currently saves almost $44 million annually through state waivers no longer available after July 1, 2015, unless a contract is developed to become either a charter system or an Investing in Educational Excellence (IE2) system. The Cobb County School Board has received approval from the Georgia Department of Education to become an IE2 district, effective with the 2015-2016 school year. A chief reason for selecting this model over the charter system model was the greater ability to develop customized student achievement plans for individual schools.
Independent Audit: The financial statements have been audited by Mauldin & Jenkins, LLC, whose opinion is expressed on page 1. The District complies with the requirements of the Single Audit Act and associated reports and schedules are presented in a separately issued Report of Independent Certified Public Accountants in Accordance with the Single Audit Act and Governmental Auditing Standards.
iii
iv
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, 2014
Executive Director/CEO
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COBB COUNTY SCHOOL DISTRICT
FUNCTION AND COMPOSITION JUNE 30, 2015
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, 2015, 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. David Chastain Mr. Scott Sweeney Mr. David Morgan Mr. David Banks Mrs. Susan Thayer
Term Expires December 31, 2016 December 31, 2016 December 31, 2018 December 31, 2018 December 31, 2016 December 31, 2016 December 31, 2018
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COBB COUNTY SCHOOL DISTRICT ELECTED OFFICIALS AND SUPERINTENDENT OF SCHOOLS
JUNE 30, 2015
RANDY SCAMIHORN
POST 1
3 Years Served
SUSAN THAYER DAVID MORGAN
POST 2 1 Year Served
POST 3 7 Years Served
DAVID CHASTAIN
POST 4
1 Year Served
DAVID BANKS
POST 5 7 Years Served
SCOTT SWEENEY BRAD WHEELER CHRIS RAGSDALE
POST 6 5 Years Served
POST 7 3 Years Served
SUPERINTENDENT
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COBB COUNTY SCHOOL DISTRICT
SUPERINTENDENT'S EXECUTIVE CABINET JUNE 30, 2015
Chris Ragsdale John Adams Dr. Angela Huff Brad Johnson Mary Elizabeth Davis Dr. Grant Rivera Dr. Angela Bacon Dr. Greg Ewing
Superintendent Deputy Superintendent Chief of Staff Chief Financial Officer Chief Academic Officer Chief Leadership and Learning Officer Chief Technology Officer Chief Accountability and Research Officer
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COBB COUNTY SCHOOL DISTRICT ORGANIZATIONAL CHART JUNE 30, 2015
Citizens of Cobb County
Board of Education
Board Attorney
Superintendent Chris Ragsdale
Chief Financial Officer
Brad Johnson
Chief of Staff
Dr. Angela Huff
Chief Academic Officer
Mary Elizabeth
Davis
Deputy Superintendent
John Adams
Chief Leadership & Learning Officer
Dr. Grant Rivera
Chief Accountability & Research Officer
Dr. Greg Ewing
Chief Technology Officer
Dr. Angela Bacon
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INDEPENDENT AUDITOR'S REPORT
To the Superintendent and Members of the Cobb County Board of Education Marietta, Georgia
Report on the 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, 2015, 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.
200 GALLERIA PARKWAY S.E., SUITE 1700 ATLANTA, GA 30339-5946 770-955-8600 800-277-0080 FAX 770-980-4489 www.mjcpa.com Members of The American Institute of Certified Public Accountants RSM International
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, 2015, 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 Notes 13 and 15, the Cobb County Board of Education implemented Governmental Accounting Standards Board (GASB) Statement No. 68, Accounting and Financial Reporting for Pensions an amendment of GASB Statement No. 27, as well as Statement No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date an amendment of GASB Statement No. 68, as of July 1, 2014. These standards significantly changed the accounting for the Cobb County Board of Education's net pension liability and the related disclosures. Our opinions are not modified with respect to this matter.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Management's Discussion and Analysis, Schedule of Proportionate Share of Net Pension Liability Teacher Retirement System of Georgia, Schedule of Contributions Teacher Retirement System of Georgia, Schedule of Proportionate Share of Net Pension Liability Employee Retirement System of Georgia, Schedule of Contributions Employee Retirement System of Georgia, and Schedule of Proportionate Share of Net Pension Liability Public School Employee Retirement System of Georgia, on pages 5 through 16 and pages 65 through 72 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.
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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 III schedule of expenditures of Special Purpose Local Option Sales Tax Projects, the SPLOST IV 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 III schedule of expenditures of Special Purpose Local Option Sales Tax Projects, and the SPLOST IV schedule of expenditures of Special Purpose Local Option Sales Tax Projects are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining and individual nonmajor fund financial statements and schedules, the SPLOST III schedule of expenditures of Special Purpose Local Option Sales Tax Projects, and the SPLOST IV 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.
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Other Reporting Required by Governmental Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated November 20, 2015 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 November 20, 2015
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MANAGEMENT'S DISCUSSION
AND ANALYSIS
COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2015
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, 2015. 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 2015 are as follows:
Total net position increased from $655.2 million in 2014 to $731.1 million in 2015, a increase of $75.9 million.
Total revenue increased from $1,114.9 million in 2014 to $1,164.6 million in 2015, an increase of $49.7 million. The revenue increase was primarily from greater state funding, as well as higher property and sales taxes.
Total expenses increased from $1,054.9 million in 2014 to $1,088.7 million in 2015, an increase of $33.8 million. The increased expense was largely due to higher instructional salaries and services.
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, deferred outflows of resources, liabilities, and deferred inflows of resources with the difference between them reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating.
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COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2015
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 and the Self-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.
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COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2015 District-wide Financial Analysis The Condensed Statement of Net Position Table (Table I), presented on the following page, summarizes and compares the Statement of Net Position for 2015 and 2014. In 2015, the District's net position increased 11.6%, or $75.9 million, over the prior year. A new governmental accounting standard requires the District to report its proportional liability of state administered pension plans in which the District participates for the benefit of its employees. Total current and other assets reflected a net decrease of 2.4%, or $9.4 million, primarily due to a decrease in cash of $14.7 million. Most of this cash decrease was the direct result of higher instructional expenses. Salaries were increased by 1.5% during the year as a substantial restoration of a District-wide salary cut of 2.0% in a previous year.
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COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2015
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COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2015 Changes in Net Position from Operating Results The Changes in Net Position from Operating Results Table (Table II), presented on the following pages, summarizes and compares the Statement of Activities for 2015 and 2014. Revenues In 2015, the District's total revenues increased 4.5%, or $49.7 million, over the prior year due primarily to an increase in state and federal aid and increased tax revenue.
Operating grants and contributions increased by 6.4%, or $32.8 million, primarily due to an increase in state instructional program revenue.
General property taxes increased 4.1%, or $21.5 million, primarily due to a 5.6% increase in the real property tax digest.
Charges for services increased by 0.3% or $0.2 million, primarily due to an increase in after school program revenue.
Other revenue decreased by 46.4%, or $2.6 million, due largely to a nonrecurring utility rebate received in the prior year which resulted from a class action lawsuit.
Expenses In 2015, the District's total expenses increased 3.2%, or $33.8 million, over the prior year due primarily to an increase in instructional and school administrative salaries.
Instruction increased by 4.0%, or $27.3 million largely due to a 1.5% increase in salaries and the restoration of a 180 day school year, with no furlough days.
School and administrative services increased 7.6%, or $12.2 million, in large part due to the salary increase, as well as a 1.4% increase in student enrollment.
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COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2015
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COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2015
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 2015 was $1,088.7 million. Users of the District's programs financed $62.1 million of the costs. Federal and State grants, subsidized programs and contributions financed $551.5 million of the cost. District taxpayers financed the remaining costs of 2015 which totaled $475.1 million.
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COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2015
The School District's Funds
The District ended fiscal year 2015 with a healthy fund balance in its governmental funds. The combined balance of all governmental funds, at $261.0 million, was 10.0% lower than 2015's ending balance of $290.0 million. The General Fund's fund balance decreased by $10.3 million, or 7.2%, due to the use of fund balance to largely fund the 1.5% salary restoration for all employees. SPLOST IV increased its fund balance by $23.2 million, an increase of 50.8%. The nonmajor governmental fund balances decreased in the aggregate by $41.9 million, or 41.3%. Most of this decrease was in SPLOST III, as it no longer had sales tax revenue and neared completion of its construction projects.
General Fund Budgetary Highlights
The most significant fund for the District is the General Fund, funded primarily through state revenue and local property tax revenue. The State of Georgia is required to maintain a balanced budget (a constitutional requirement in Georgia), as are all state-funded school districts.
Revenue for local property taxes and state student funding were both higher in 2015, by $13.5 million and $28.2 million respectively. This reflected a rebound in property tax values and increased tax collections at the state level. These increased revenues, combined with a contribution from the General Fund Balance, enabled the District to increase salaries for the first time in six years. We budgeted a decrease in General Fund Balance of $51.7 million, but due to conservative budgeting practices and effective expenditure control, General Fund Balance only decreased by $10.3 million. Actual revenue exceeded budget by $20.8 million, and actual expenditures were less than budget by $20.6. This netted a favorable budget variance of $41.4 million.
General Fund Balance
The unassigned General Fund balance at June 30, 2015 was $90.6 million. This represents approximately 37 days of general fund expenditures. The Board of Education made a concerted effort to maintain adequate reserves for the District.
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COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2015 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 and ended on December 31, 2013. The SPLOST III fund had expenditures of $45.0 million and an ending fund balance of $23.8 million. SPLOST IV began January 1, 2015 and will end on December 31, 2019. The SPLOST IV fund had expenditures of $105.2 million and an ending fund balance of $69.0 million. A full listing of SPLOST III and SPLOST IV projects can be located on pages 112-115. Nonmajor Governmental Funds The Nonmajor Governmental Funds had aggregate expenditures of $196.6 million and aggregate fund balances of $59.6 million. The Board of Education will continue to address contingencies in 2016. Funds with the highest expenditures were School Nutrition at $53.9 million, Special Education at $21.3 million, Title I at $20.7 million, and Local School Funds at $32.2 million. Funds ending the year with the highest fund balances were School Nutrition at $19.3 million, Local School Funds at $8.4 million, and After School Program at $3.8 million. The fund balance of Nonmajor Governmental Funds, in aggregate, decreased from $101.5 million in 2014 to $59.6 million in 2015, a decrease of $41.9 million. Descriptions of these funds can be located on pages 73-75.
13
COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2015 Capital Assets and Debt Administration Capital Assets The Capital Assets, Net of Depreciation (Table IV), presented on the following page, summarizes and compares the capital assets for 2015 and 2014. Capital assets increased 5.8% from $1,256.7 million in 2014 to $1,329.3 million in 2015, an increase of $72.6 million. Construction in Progress increased by $19.4 million, or 49.5%, due to the start of many new projects in SPLOST IV. Library and Textbooks increased by $2.6 million, or 19.5%. Equipment increased by $40.8 million, or 140.7%, primarily from a refresh of technology equipment at the local schools. Land increased by $5.5 million, or 4.4%, as land was acquired for future school expansion. 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, 2015
15
COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2015 Long-Term Obligations As of June 30, 2015, the District had $8.8 million in outstanding long-term obligations for compensated absences and a net pension liability of $673.1 million. 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 has no issued debt, allowing us to devote all of our financial resources to providing a quality education for our students. We are also grateful for our citizens' approval of the SPLOST IV capital financing initiative which enables the financing of new schools and needed building improvements to existing schools. Our District is committed to working as one team for the goal of student success, and we greatly appreciate the support of our schools by the public and by local community organizations. 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
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COBB COUNTY SCHOOL DISTRICT STATEMENT OF NET POSITION JUNE 30, 2015
(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 Intangibles Buildings and Improvements Equipment Library Books and Textbooks Less: Accumulated Depreciation
Total Assets
DEFERRED OUTFLOWS OF RESOURCES:
Related to Defined Benefit Pension Plans Total Deferred Outflows of Resources
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 Net Pension Liability
Total Liabilities
DEFERRED INFLOWS OF RESOURCES:
Related to Defined Benefit Pension Plans Total Deferred Inflows of Resources
NET POSITION: Investment in Capital Assets Restricted for:
Capital Projects School Nutrition Services Miscellaneous Grants Unrestricted (Deficit)
Total Net Position
Governmental Activities
$
268,134
20,412 83,299
1,304 150
2,542
130,398
58,593
3,191
1,763,917 164,352
90,903 (882,009)
$
1,705,186
75,156 75,156
36,174 370
67,328 717
6,540 8,639 673,119 792,887
256,361 256,361
1,329,345
92,760
19,295
43
(710,349)
$
731,094
See accompanying notes to the basic financial statements.
17
COBB COUNTY SCHOOL DISTRICT STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2015
(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
Program Revenues
Charges for Services
Operating
Capital
Grants and Grants and
Contributions Contributions
Net (Expense) Revenue
and Changes in Net Position
$ 704,451 $ 27,468 47,475 173,717 49,975 53,469 32,164
$ 1,088,719 $
1,121 $ 10 -
27,963 -
1,830 31,193
62,117 $
478,418 $ 25,483 2,044 34,985 4,662 -
545,592 $
5,077 $ 113 $ 226 $ 451 $ -$ -$ -$
5,867 $
(219,835) (1,862) (45,205)
(110,318) (45,313) (51,639)
(971)
(475,143)
General Revenues: Taxes: Property Taxes Levied for General Purposes Sales Tax Interest Income
Other
421,043 126,923
1,352 1,769
Total General Revenues
551,087
Change in Net Position
75,944
Net Position - Beginning of Year, As Originally Presented
1,543,463
Restatements - Changes in Accounting Principles
(888,313)
Net Position - Beginning of Year, Restated
655,150
Net Position - End of Year
$ 731,094
See accompanying notes to the basic financial statements.
18
COBB COUNTY SCHOOL DISTRICT BALANCE SHEET GOVERNMENTAL FUNDS JUNE 30, 2015
(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
$ 117,029
9,426 66,374 1,292
9,636 136 708
$ 204,601
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
6,971 367
45,134 16,425
180 -
69,077
Deferred Inflows of Resources: Unavailable Revenue - Property Taxes Total Deferred Inflows of Resources
3,042 3,042
Fund Balances: Nonspendable Restricted Committed Assigned Unassigned
Total Fund Balances Total Liabilities, Deferred Inflows of Resources, and Fund Balances
844 -
10,000 31,050 90,588 132,482 $ 204,601
Special Purpose Local Option Sales Tax IV
Nonmajor Governmental
Funds
Total Governmental
Funds
$
77,894 $ 65,703 $ 260,626
10,986
-
20,412
1,044
15,881
83,299
-
12
1,304
-
175
9,811
-
10
146
-
1,834
2,542
$
89,924 $ 83,615 $ 378,140
$
20,968 $
7,911 $ 35,850
-
3
370
-
4,301
49,435
-
1,446
17,871
-
9,636
9,816
-
717
717
20,968
24,014
114,059
-
-
3,042
-
-
3,042
-
1,844
2,688
68,956
41,308
110,264
-
14,990
24,990
-
1,468
32,518
-
(9)
90,579
68,956
59,601
261,039
$
89,924 $ 83,615 $ 378,140
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, 2015
(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 current financial resources and therefore are not reported in the funds.
Cost of capital assets Accumulated depreciation
The deferred outflows of resources, deferred inflows of resources, and the net pension liability related to the District's pension plan are not expected to be liquidated with expendable financial resources and, therefore, are not reported in the funds.
Net Pension Liability Deferred Outflows of Resources - Pension Related Items Deferred Inflows of Resources - Pension Related Items
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
$
261,039
2,211,354 (882,009)
1,329,345
(673,119) 75,156
(256,361)
(854,324) 3,042 764
(8,772)
$
731,094
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, 2015
(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 IV
Funds
Funds
$ 421,814 $ 459,181 12 1,294 1,353 1,570 885,224
126,923 $
1 $ 548,738
1,420
91,830
552,431
-
57,738
57,750
133
151
1,578
-
-
1,353
-
3,013
3,013
-
199
1,769
128,476
152,932
1,166,632
EXPENDITURES: Current:
Instruction Pupil Services Instructional Services School and Administrative Services Student Transportation Maintenance and Operations School Nutrition Program Student Activities Capital Outlay
Total Expenditures
653,801 19,248 25,519 84,588 43,909 62,154 458 3,769
893,446
16,709 88,529 105,238
21,509 6,125 20,726 71,007 1,674 1,312
32,164 42,110 196,627
675,310 25,373 46,245 172,304 45,583 63,466
458 32,164 134,408 1,195,311
Excess (deficiency) of Revenues Over (Under) Expenditures
Other Financing Sources (Uses): Transfers-In Transfers-Out Proceeds from Sale of Capital Assets Total Other Financing Sources (Uses)
(8,222)
125 (2,313)
110 (2,078)
23,238
-
(43,695)
1,868 (125)
16 1,759
(28,679)
1,993 (2,438)
126 (319)
Net Change in Fund Balances Fund Balances, Beginning of Year
(10,300) 142,782
23,238 45,718
(41,936) 101,537
(28,998) 290,037
Fund Balances, End of Year
$ 132,482 $
68,956 $ 59,601 $ 261,039
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, 2015
(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 Depreciation expense
In the governmental funds, current year expenditures related to pensions are compried solely of amounts contributed to the plan for the current year. However, in the statement of activities, expenses related to pensions include amounts that do not require the use of current financial resources. This amount represents the difference in the required accounting treatment of pensions and related items.
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 expenses of the internal service funds is reported with governmental activities.
Some items reported in the statement of activities do not require the use of current financial resources and therefore are not reported as expenditures in governmental funds. This activity consists of the increase in compensated absences.
Change in Net Position of Governmental Activities
$ (28,998)
143,527 (70,570)
72,957
33,989 (772) (268) (257) (707)
$ 75,944
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, 2015
(amounts expressed in thousands)
REVENUES: Local State Federal Other
Total Revenues
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget -
Positive (Negative)
$
421,412 $ 421,704 $ 426,012 $
435,891
436,839
451,604
4,703
4,703
6,615
423
423
264
862,429
863,669
884,495
4,308 14,765
1,912 (159)
20,826
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 Other Support Services Community Service Operations Capital Outlay Transfers
Total Expenditures
644,414 18,429 24,707 14,789 8,292 54,701 4,353 63,891 47,966 15,676 75 18 2,933
900,244
662,395 19,410 12,952 14,893 8,673 54,888 4,444 66,615 49,819 17,871 76 18 3,326
915,380
656,240 19,248 11,615 14,498 7,843 55,634 5,900 61,746 44,695 14,966 21 74 2 2,313
894,795
6,155 162
1,337 395 830 (746)
(1,456) 4,869 5,124 2,905
(21) 2
16 1,013
20,585
Net Change in Fund Balance Fund Balance, Beginning of Year
(37,815) 142,782
(51,711) 142,782
(10,300) 142,782
41,411 -
Fund Balance, End of Year
$
104,967 $
91,071 $
132,482 $
41,411
See accompanying notes to the basic financial statements.
23
COBB COUNTY SCHOOL DISTRICT STATEMENT OF NET POSITION PROPRIETARY FUNDS JUNE 30, 2015
(amounts expressed in thousands)
Assets:
Current Assets: Cash and Cash Equivalents Due from Other Funds Prepaids Total Current Assets
Liabilities:
Current Liabilities: Accounts Payable Claims Payable Accrued Payroll and Payroll Withholdings Accrued Employee Benefits Total Current Liabilities
Noncurrent Liabilities: Claims payable, due in more than one year
Total Liabilities
Net Position:
Unrestricted
Governmental Activities
Internal Service Funds
$ 7,508 5 4
7,517
324 1,852
11 11 2,198
4,555
6,753
$
764
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, 2015
(amounts expressed in thousands)
Governmental Activities
OPERATING REVENUES: Charges for Services
Internal
Service Funds
$
5,217
OPERATING EXPENSES: School and Administrative Services
5,919
Operating Loss Transfers-In
(702) 445
Change in Net Position Total Net Position, Beginning of Year
(257) 1,021
Total Net Posiition, End of Year
$
764
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, 2015
(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 Operating Activities
Cash Flows from Noncapital Financing Activities: Transfers-In
Net Cash Provided by Noncapital Financing Activities
Net Change in Cash and Cash Equivalents Cash and Cash Equivalents at Beginning of Year
Cash and Cash Equivalents at End of Year
Reconciliation of Operating Loss to Net Cash Provided by Operating Activities:
Operating Loss Adjustments to Reconcile Operating
Loss to Net Cash Provided by Operating Activities:
Decrease in Accounts Receivable Decrease in Due From Other Funds Decrease in Prepaids Increase in Claims Payable Decrease in Accounts Payable
Total Adjustments
Net Cash Provided by Operating Activities
Governmental Activities
Internal Service Funds
$
12,980
(360)
(4,871)
(686)
7,063
445
445
7,508
-
$
7,508
$
(702)
104 7,659
53 51 (102)
7,765
$
7,063
See accompanying notes to the basic financial statements.
26
COBB COUNTY SCHOOL DISTRICT STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES FIDUCIARY FUNDS JUNE 30, 2015
(amounts expressed in thousands)
Assets: Cash and Cash Equivalents
Total Assets
Liabilities: Due to Student Groups Payroll Withholdings Payable
Total Liabilities
Agency Funds
$
36,365
$
36,365
$
1,338
35,027
$
36,365
See accompanying notes to the basic financial statements. 27
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
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, 2015
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 IV Fund (SPLOST IV) 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 after-school programs, adult high school, and performing arts.
Capital project funds account for restricted and assigned revenues and related capital expenditures. The expenditures are used for capital outlays for educational purposes as authorized by local referendum and management's decision.
Internal service funds (proprietary funds) account for insurance and unemployment compensation provided to other funds of the District on a cost reimbursement basis.
29
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
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.
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.
30
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
The State of Georgia reimburses the District for teachers' salaries and operating costs through the Quality Basic Education (QBE) Formula Earnings program. State of Georgia law defines the formula driven grant that determines the cost of an academic school year and the State of Georgia's share in this cost. Generally, teachers are contracted for the school year (July 1 June 30) and paid over a twelve-month contract period, generally September 1 through August 31. In accordance with the requirements of the enabling legislation of the QBE program, the State of Georgia reimburses the District over the same 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, 2015
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 certificates of deposit. All of the District's investments as of June 30, 2015, 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 3683-4 authorizes the District to invest its funds. In selecting among options for investment or among institutional bids for deposits, the highest rate of return shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following:
(1) Obligations issued by the State of Georgia or by other States, (2) Obligations issued by the United States government, (3) Obligations fully insured or guaranteed by the United States government or a United
States government agency, (4) Obligations of any corporation of the United States government, (5) Prime banker's acceptances, (6) The Local Government Investment Pool administered by the State Treasurer of the
State of Georgia. (7) Repurchase agreements, and, (8) Obligations of other political subdivisions of the State of Georgia.
32
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
F. Receivables:
Receivables consist of amounts due from property and sales taxes, grant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Federal and State Aid Receivables at June 30, 2015 were as follows:
(amounts expressed in thousands)
Special
General Fund
Purpose Local Option Sales
Tax IV
Nonmajor Governmental
Total
Federal Grants
$
-$
-$
12,106 $ 12,106
State Aid / Grants
66,374
1,044
3,775
71,193
Federal and State $ 66,374 $ 1,044 $
15,881 $ 83,299
G. Property Taxes:
The Cobb County Board of Commissioners fixed the property tax levy for the 2014 tax digest year (calendar year) in July 2014 (levy date) based on property values as of January 1, 2014. Taxes were due on October 15, 2014 (lien date). Taxes collected within the current fiscal year or within 60 days after year-end on the 2014 tax digest are reported as revenue in the governmental funds for fiscal year 2015. 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, 2015 totaled $421,814,000.
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 2014 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
33
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
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 $531,022,898 has been collected or on December 31, 2018, whichever occurs first.
I. Inventories:
On the district-wide financial statements, inventories of donated food commodities used in the preparation of meals are reported at their Federally assigned value and purchased foods inventories are reported at cost (first in-first out). The District uses the consumption method to account for inventories whereby donated food commodities are recorded as an asset and as revenue when received, and expenses are recorded as the inventory items are used. Purchased foods are recorded as an asset when purchased and expenses are recorded as the inventory items are used.
On the fund statements, inventories of governmental funds are reported at cost (first in-firstout). The District uses the consumption method to account for inventories whereby expenditures are recorded when inventory items are used.
J. Prepaid Items:
Payments made to vendors for services that will benefit periods subsequent to June 30, 2015, are recorded as prepaid, according to the consumption method.
K. 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.
34
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Capitalization thresholds and estimated useful lives of capital assets reported in the Districtwide statements are as follows:
General
Useful
Policy
Life
Land
All
N/A
Buildings and Improvements
All
20 to 50 Years
Equipment
$10,000
5 to 10 Years
Intangible Assets
$1,000,000
10 Years
Library Books and Textbooks
All
5 Years
Depreciation expense is used to allocate the actual or estimated historical cost of all capital assets over estimated useful lives.
L. Deferred Outflows/Inflows of Resources
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.
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. Other than pensions (described in note M below), 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.
M. Pensions
For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the Teachers Retirement System of Georgia (TRS) and additions to/deductions from TRS's fiduciary net position have been determined on the same basis as they are reported by TRS. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.
35
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the Employees' Retirement System (ERS) and additions to/deductions from ERS's fiduciary net position have been determined on the same basis as they are reported by ERS. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.
For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the Public School Employees Retirement System (PSERS) and additions to/deductions from PSERS's fiduciary net position have been determined on the same basis as they are reported by PSERS. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.
N. 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.
36
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) O. Fund Balance: Fund equity at the governmental fund financial reporting level is classified as "fund balance". Fund equity for all other reporting is classified as "net position". Generally, fund balance represents the difference between the assets, liabilities, and deferred inflows of resources under the current financial resources measurement focus of accounting. In the fund financial statements, governmental funds report fund balance classifications that comprise a hierarchy based primarily on the extent to which the District is bound to honor constraints on the specific purposes for which amounts in those funds can be spent. The District's fund balances per Cobb County School District Board Policy DI, Accounting and Reporting, are classified as follows:
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 by June 30. 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.
37
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Committed Fund Balances The Board of Education, as the government's highest level of decision-making authority, may commit fund balance by a formal 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 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
38
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Minimum Unassigned General Fund Balance The Board of Education will strive to maintain a minimum unassigned general fund balance, less encumbrances, equivalent to a range of 30 to 55 days of annual expenditures unless this is unfeasible due to circumstances beyond its control such as:
a) A substantial decrease in the county property tax digest b) A substantial decrease in State funding c) An unanticipated fiscal necessity
Schedule of Fund Balances
Fund Balances:
General Fund
Special Purpose Nonmajor
Local Option Governmental
Sales Tax IV
Funds
Total
Nonspendable: Inventory Prepaids
$ 708,000 136,000
$ 1,834,000 $ 2,542,000 10,000 $ 146,000
Restricted for: Capital Projects School Nutrition Miscellaneous Grants
$ 68,956,000
23,804,000 17,461,000
43,000
$ 92,760,000 $ 17,461,000 $ 43,000
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
New School Building in South Cobb
10,000,000
8,417,000 3,769,000 1,106,000 1,370,000
229,000 99,000
$ 8,417,000 $ 3,769,000 $ 1,106,000 $ 1,370,000 $ 229,000 $ 99,000 $ 10,000,000
Assigned to: Appropriation for Next Year's Budget Instruction Instructional Services School and Administrative Services Maintenance and Operations Transportation District-Wide Building Student Information Systems Psycho Ed
20,000,000 5,991,000
481,000 2,645,000 1,304,000
629,000
733,000 396,000 339,000
$ 20,000,000 $ 5,991,000 $ 481,000 $ 2,645,000 $ 1,304,000 $ 629,000 $ 733,000 $ 396,000 $ 339,000
Unassigned:
90,588,000
(9,000) $ 90,579,000
Total Fund Balance
$ 132,482,000 $ 68,956,000 $ 59,601,000 $ 261,039,000
39
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
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, 2015.
For the year ended June 30, 2015, 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:
School Administration
$
Business Services
Other Support Services
Donations
Other Support Services
After School Program
Instruction
Tuition School/Adult High School
Improvement of Instructional Services
Race to the Top
Improvement of Instructional Services
Title IV
Federal Grant Administraton
Student Transportation
746,000 1,456,000
21,000
2,000
61,000
36,000
34,000
4,000 7,000
40
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
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, 2015
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, 2015, the District had deposits with a carrying amount of $304,497,884 and a bank balance of $311,665,700. 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, 2015, the District's investments included $100 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 56 days. In addition, the District had $431,458 in certificates 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.
42
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 3. CASH EQUIVALENTS, DEPOSITS AND INVESTMENTS (Continued) 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. 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. The Georgia Fund One'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 and are reported at fair market value. As of June 30, 2015, 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, 2015
Note 5. CAPITAL ASSETS:
The following is a summary of changes in the capital assets during the fiscal year:
Governmental Activities
Balance June 30, 2014
Capital Assets, Not Being Depreciated:
Land
$
124,917,000
Construction In Progress
39,152,000
Total Capital Assets Not Being Depreciated
164,069,000
Capital Assets Being Depreciated:
Buildings and Improvements
1,710,229,000
Intangibles
-
Equip ment
115,810,000
Library /T ext books
95,629,000
Total Capital Assets Being Depreciated
1,921,668,000
Less Accumulated Depreciation for:
Buildings and Improvements
659,904,000
Intangibles
-
Equip ment
86,786,000
Library /T ext books
82,391,000
Total Accumulated Depreciation
829,081,000
Increases
$ 5,481,000 76,096,000 81,577,000
53,688,000 3,191,000
52,461,000 9,265,000
118,605,000
52,280,000 319,000
11,408,000 6,563,000 70,570,000
Decreases
Balance June 30, 2015
$
- $ 130,398,000
(56,655,000)
58,593,000
(56,655,000)
188,991,000
(3,919,000) (13,991,000) (17,910,000)
1,763,917,000 3,191,000
164,352,000 90,903,000
2,022,363,000
(3,651,000) (13,991,000) (17,642,000)
712,184,000 319,000
94,543,000 74,963,000 882,009,000
Total Capital Assets Being Depreciated-Net
1,092,587,000
Governmental Capital Assets,Net
$ 1,256,656,000
48,035,000 $ 129,612,000
(268,000)
1,140,354,000
$ (56,923,000) $ 1,329,345,000
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
$
55,304 3,096 2,254 4,886 4,994
36 70,570
44
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 6. INTERFUND ASSETS AND LIABILITIES:
Interfund receivable and payable balances result from the time lag between the dates that (1) interfund goods and services are provided or reimbursable expenditures occur, (2) transactions are recorded in the accounting system, and (3) payments between funds are made. All interfund balances will be paid within one year. The $9,636,000 receivable due to the General Fund from various nonmajor governmental funds was primarily for the financing of federal and state grant expenditures whose reimbursement was pending at yearend, as detailed below. The $175,000 receivable due to Local Schools from the General Fund largely represented local school cash funds invested during the summer, to be repaid with interest after the start of school. The $5,000 receivable in two proprietary funds due from the General Fund represented allocated charges for unemployment and workers compensation benefits. Interfund receivable and payable balances by fund as of June 30, 2015 are disclosed in the following schedule:
Governmental Funds: General Fund
Re ce ivable $ 9,636,000
Nonmajor Governmental Funds: Adult Education Psycho Education Center Title I Race to the Top Grant Special Ed Federal Grant Vocational Education Title II Homeless Grant Title III Title IV Local Schools Total Nonmajor Governmental Funds
175,000 175,000
Proprietary Funds: Unemployment Compensation Fund Self-Insurance Fund Total Proprietary Funds
4,000 1,000 5,000
Total
$ 9,816,000
Payable
$ 180,000
818,000 610,000 3,973,000
5,000 3,304,000
196,000 422,000
5,000 178,000 125,000
9,636,000
$ 9,816,000
45
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 7. INTERFUND TRANSFERS:
Interfund transfers are used to (1) move revenues from the fund that statute or budget requires to collect them to the fund that statute or budget requires to expend them and (2) to use unrestricted revenues in the general fund to finance various programs accounted for in other funds in accordance with budgetary authorizations. The transfer from the General Fund to the County Wide Building Fund was for the purchase of land for future use at a school site and for portable classroom expenditures. The remaining transfers out of the General Fund were to provide needed supplemental funding of various school support services. The two transfers in to the General Fund from nonmajor governmental funds represented excess uncommitted revenue above program expenditures that was returned to benefit the various instructional and support services of the District.
Interfund transfers for the year ended June 30, 2015, 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 Facility Use / Public Safety Fund Total Nonmajor Governmental Funds
Transfers In:
County Wide Building Fund Facility Use / Public Safety Fund Tuition School / Adult High School Fund Self-Insurance Fund
General Fund General Fund
Total for All Funds
Amount
$
793,000
$
855,000
220,000
445,000
$ 2,313,000
$
2,000
123,000
$
125,000
$ 2,438,000
Note 8. RISK MANAGEMENT
The District is self-insured for all claims under general liability, vehicle accidents and workers compensation. The District maintains a policy for excess workers compensation. The District is commercially insured for property, contents and boiler and carries fidelity bond coverage for employee dishonesty, in addition to a state-mandated Superintendent's bond and school principals' bond.
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%.
46
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 8. RISK MANAGEMENT (Continued)
Estimated claims for the next fiscal year total $1,852,000 and the non-current liability for succeeding years is $4,555,000. In the past, the amount of any insurance settlements has not exceeded the insurance coverage for the past three years.
Estimated Unpaid Claims at Beginning
of Fiscal Year
Claims and Changes in Estimates
Claim Payments
Estimated Unpaid Claims at
End of Fiscal Year
2014 $
6,409,000 $ 3,142,000 $ (3,195,000) $ 6,356,000
2015 $
6,356,000 $ 3,112,000 $ (3,061,000) $ 6,407,000
Note 9. LONG-TERM OBLIGATIONS:
Fiscal year 2015 long-term obligations are as follows:
Accrued Vacation Pay Net Pension Liabilit y Total
Balance 6/30/2014
Increases
Decreases
Balance 6/30/2015
Current Amounts Due Within One
Year
Long-term Amounts Due After One Year
$ 8,065,000 $ 5,017,000 $
4,310,000 $ 8,772,000 $
4,688,000 $ 4,084,000
$ 955,063,000 $ $ 963,128,000 $
41,222,007 $ 46,239,007 $
323,166,007 $ 673,119,000 $ 327,476,007 $ 681,891,000 $
- $ 673,119,000 4,688,000 $ 677,203,000
Accrued vacation pay and pension obligations are generally liquidated by the General Fund.
Note 10. ON-BEHALF PAYMENTS:
The State of Georgia makes certain health insurance and pension plan payments on behalf of the District for its employees. The District records these payments as both a revenue and expenditure in the General Fund. The total of the on-behalf payments for the fiscal year ended June 30, 2015 was $1,983,973.
47
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
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, 2015 included additions and renovations at one elementary school and three high schools. As of June 30, 2015, the contract price and expenditures to date for the largest projects were as follows:
Project
Contract Price
Expenditures To Date
Maintenance/Renovation McEachern HS $ 11,912,049
Additions/Modifications Teasley ES
15,928,335
New Facility Walton HS
50,612,309
Additions/Renovations Wheeler HS
24,404,960
$ 2,500,444 13,501,543 4,289,108 13,358,486
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, 2015, 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 and management, 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 is accrued and includes social security, medicare, and workers compensation payroll taxes. 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, 2015
Note 13. RETIREMENT PLANS:
The District participated in three cost sharing multiple employer plans: the Teacher's Retirement System of Georgia, the Employee Retirement System of Georgia, and the Public School Employee Retirement System of Georgia. The following are aggregate amounts reported by the District related to these plans as of and for the year ended June 30, 2015:
Net Pension Liability Deferred Outflows related to Pensions Deferred Inflows related to Pensions Pension Expense
$ 673,119,000 75,156,000 256,361,000 41,803,237
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 publicly available financial report that can be obtained at www.trsga.com/publications.
Benefits Provided
TRS retirement benefits are determined as 2 % of the average of the employee's two highest paid consecutive years of service, multiplied by the number of years of creditable service up to 40 years. An employee is eligible for normal service retirement after 30 years of creditable service, regardless of age, or after 10 years of service and attainment of age 60. Ten years of service is required for disability and death benefits eligibility. Disability benefits are based on the employee's creditable service and compensation up to the time of disability. Death benefits equal the amount that would be payable to the employee's beneficiary had the employee retired on the date of death. Death benefits are based on the employee's creditable service and compensation up to the date of death.
49
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 13. RETIREMENT PLANS (Continued)
Funding Policy
Per Title 47 of the O.C.G.A., contribution requirements of active employees and participating employers, as actuarially determined, are established and may be amended by the TRS Board. Pursuant to O.C.G.A. 47-3-63, the employer contributions for certain full- time public school support personnel are invested on behalf of the employer by the State of Georgia. Contributions are expected to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. Plan members are currently required to contribute 6.00 percent of their annual covered payroll and the District is currently required to contribute 13.15 percent of the covered payroll. The District's contributions to TRS for the year ended June 30, 2015 was $75,145,398.
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions
At June 30, 2015, the District reported a liability for its proportionate share of the net pension liability that reflected a reduction for support provided to the District by the State of Georgia for certain public school support personnel. The amount recognized by the District as its proportionate share of the net pension liability, the related State of Georgia support, and the total portion of the net pension liability that was associated with the District were as follows:
District's proportionate share of the net pension liability
$ 673,041,668
State of Georgia's proportionate share of the net pension liability associated with the District
1,082,454
Total
$ 674,124,122
The net pension liability was measured as of June 30, 2014. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2013. An expected total pension liability as of June 30, 2014 was determined using standard roll- forward techniques. The District's proportion of the net pension liability was based on contributions to TRS during the fiscal year ended June 30, 2014. At June 30 2014, the District's proportion was 5.327360%, which was an decrease of 0.152209% from its proportion measured as of June 30, 2013.
50
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 13. RETIREMENT PLANS (Continued)
For the year ended June 30, 2015, the District recognized pension expense of $41,222,007 and revenue of $150,447 for support provided by the State of Georgia for certain support personnel. At June 30, 2015, the District reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:
De fe rre d Outflows of Re s ource s
De fe rre d Inflows of Re s ource s
Net difference between projected and actual earnings on pension plan investments
$
- $ 234,636,592
Changes in proportion and differences between District contributions and proportionate share of contributions
-
21,610,711
District contributions subsequent to the measurement date
75,145,398
-
Total
$ 75,145,398 $ 256,247,303
District contributions subsequent to the measurement date of $75,145,398 are reported as deferred outflows of resources and will be recognized as a reduction of the net pension liability in the year ended June 30, 2016. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows:
Year ended June 30: 2016 2017 2018 2019 2020
Total
$ (63,570,660) (63,570,660) (63,570,660) (63,570,713) (1,964,610)
$ (256,247,303)
51
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 13. RETIREMENT PLANS (Continued)
Actuarial assumptions: The total pension liability as of June 30, 2014 was determined by an actuarial valuation as of June 30, 2013 using the following actuarial assumptions, applied to all periods included in the measurement:
Inflation Salary increases Investment rate of return
3.00% 3.75-7.00%, average, including inflation 7.50%, net of pension plan investment expense including inflation
Mortality rates were based on the RP-2000 Combined Mortality Table for Males or Females set back two years for males and set back three years for females.
The actuarial assumptions used in the June 30, 2013 valuation were based on the results of an actuarial experience study for the period July 1, 2004 June 30, 2009.
The long-term expected rate of return on pension plan investments was determined using a log-normal distribution analysis in which best-estimate ranges of expected future real rates of return (expected nominal returns, net of pension plan investment expense and the assumed rate of inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table:
Asset class
Fixed income Domestic large equities Domestic mid equities Domestic small equities International developed market equities International emerging market equities
Total
* Rates shown are net of the 3.00% assumed rate of inflation
Target allocation
30.00% 39.70 3.70 1.60 18.90 6.10 100.00%
Long-term expected real rate of return*
3.00% 6.50 10.00 13.00 6.50 11.00
52
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 13. RETIREMENT PLANS (Continued)
Discount rate: The discount rate used to measure the total pension liability was 7.50 %. The projection of cash flows used to determine the discount rate assumed that plan member contributions will be made at the current contribution rate and that employer and State of Georgia contributions will be made at rates equal to the difference between actuarially determined contribution rates and the member rate. Based on those assumptions, the pension plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long- term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability.
Sensitivity of the District's proportionate share of the net pension liability to changes in the discount rate: The following presents the District's proportionate share of the net pension liability calculated using the discount rate of 7.50 %, as well as what the District's proportionate share of the net pension liability would be if it were calculated using a discount rate that is one percentage point lower (6.50%) or one percentage point higher (8.50%) than the current rate:
1% Decrease (6.5%)
District's proportionate share of the net pension liability $ 1,240,325,491
Current discount rate
(7.5%)
$ 673,041,668
1 % Increase (8.5%)
$ 205,895,219
Pension plan fiduciary net position: Detailed information about the pension plan's fiduciary net position is available in the separately issued TRS financial report which is publically available at www.trsga.com/publications.
Payables to the pension plan
At June 30, 2015, the District reported a payable of $9,009,382 for the outstanding amount of contributions to the TRS pension plan required for the year ended June 30, 2015.
53
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 13. RETIREMENT PLANS (Continued)
Employee Retirement System of Georgia (ERS):
Plan Description
ERS is a cost-sharing multiple-employer defined benefit pension plan established by the Georgia General Assembly during the 1949 Legislative Session for the purpose of providing retirement allowances for employees of the State of Georgia and its political subdivisions. ERS is directed by a Board of Trustees. Title 47 of the O.C.G.A. assigns the authority to establish and amend the benefit provisions to the State Legislature. ERS issues a publicly available financial report that can be obtained at www.ers.ga.gov/formspubs/formspubs.
Benefits Provided
The ERS Plan supports three benefit tiers: Old Plan, New Plan, and Georgia State Employees' Pension and Savings Plan (GSEPS). Employees under the old plan started membership prior to July 1, 1982 and are subject to plan provisions in effect prior to July 1, 1982. Members hired on or after July 1, 1982 but prior to January 1, 2009 are new plan members subject to modified plan provisions. Effective January 1, 2009, new state employees and rehired state employees who did not retain membership rights under the Old or New Plans are members of GSEPS. ERS members hired prior to January 1, 2009 also have the option to irrevocably change their membership to GSEPS.
Under the old plan, the new plan, and GSEPS, a member may retire and receive normal retirement benefits after completion of 10 years of creditable service and attainment of age 60 or 30 years of creditable service regardless of age. Additionally, there are some provisions allowing for early retirement after 25 years of creditable service for members under age 60.
Retirement benefits paid to members are based upon the monthly average of the member's highest 24 consecutive calendar months, multiplied by the number of years of creditable service, multiplied by the applicable benefit factor. Annually, postretirement cost-of-living adjustments may also be made to members' benefits, provided the members were hired prior to July 1, 2009. The normal retirement pension is payable monthly for life; however, options are available for distribution of the member's monthly pension, at reduced rates, to a designated beneficiary upon the member's death. Death and disability benefits are also available through ERS.
54
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 13. RETIREMENT PLANS (Continued) Funding Policy Member contributions under the old plan are 4% of annual compensation, up to $4,200, plus 6% of annual compensation in excess of $4,200. Under the old plan, the state pays member contributions in excess of 1.25% of annual compensation. Under the old plan, these state contributions are included in the members' accounts for refund purposes and are used in the computation of the members' earnable compensation for the purpose of computing retirement benefits. Member contributions under the new plan and GSEPS are 1.25% of annual compensation. The District's contractually required contribution rate, actuarially determined annually, for the year ended June 30, 2015 was 21.96% of annual covered payroll for old and new plan members and 18.87% for GSEPS members. The District's contributions to ERS totaled $10,848 for the year ended June 30, 2015. Contributions are expected to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions At June 30, 2015, the District reported a liability for its proportionate share of the net pension liability of $77,375. The net pension liability was measured as of June 30, 2014. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2013. An expected total pension liability as of June 30, 2014 was determined using standard roll-forward techniques. The District's proportion of the net pension liability was based on contributions to ERS during the fiscal year ended June 30, 2014. At June 30 2014, the Employer's proportion was 0.002063%, which was a decrease of 0.003174% from its proportion measured as of June 30, 2013.
55
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 13. RETIREMENT PLANS (Continued)
For the year ended June 30, 2015, the District recognized pension expense of ($54,516). At June 30, 2015, the District reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:
Net difference between projected and actual earnings on pension plan investments
Changes in proportion and differences between District contributions and proportionate share of contributions
District contributions subsequent to the measurement date
Total
Deferred Outflows of Resources
$
-
-
10,848
$
10,848
Deferred Inflows of Resources
$ 18,885
94,783
$ 113,668
District contributions subsequent to the measurement date of $10,848 are reported as deferred outflows of resources and will be recognized as a reduction of the net pension liability in the year ended June 30, 2016. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows:
Year ended June 30: 2016 2017 2018 2019
Total
$ (63,961) (40,264) (4,721) (4,722)
$ (113,668)
56
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 13. RETIREMENT PLANS (Continued)
Actuarial assumptions: The total pension liability as of June 30, 2014 was determined by an actuarial valuation as of June 30, 2013 using the following actuarial assumptions, applied to all periods included in the measurement:
Inflation Salary increases Investment rate of return
3.00% 5.45-9.25%, average, including inflation 7.50%, net of pension plan investment expense including inflation
Mortality rates were based on the RP-2000 Combined Mortality Table for the periods after service retirement, for dependent beneficiaries, and for deaths in active service, and the RP-2000 Disabled Mortality Table set back eleven years for males for the period after disability retirement.
The actuarial assumptions used in the June 30, 2013 valuation were based on the results of an actuarial experience study for the period July 1, 2004 June 30, 2009.
The long-term expected rate of return on pension plan investments was determined using a log-normal distribution analysis in which best-estimate ranges of expected future real rates of return (expected nominal returns, net of pension plan investment expense and the assumed rate of inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table:
Asset class
Target allocation
Fixed income Domestic large equities Domestic mid equities Domestic small equities International developed market equities International emerging market equities
Total
30.00% 39.70 3.70 1.60 18.90
6.10 100.00%
* Rates shown are net of the 3.00% assumed rate of inflation
Long-term expected real rate of return*
3.00% 6.50 10.00 13.00 6.50 11.00
57
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 13. RETIREMENT PLANS (Continued)
Discount rate: The discount rate used to measure the total pension liability was 7.50%. The projection of cash flows used to determine the discount rate assumed that plan member contributions will be made at the current contribution rate and that employer contributions will be made at rates equal to the difference between actuarially determined contribution rates and the member rate. Based on those assumptions, the pension plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability.
Sensitivity of the District's proportionate share of the net pension liability to changes in the discount rate: The following presents the Agency's proportionate share of the net pension liability calculated using the discount rate of 7.50%, as well as what the District's proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1-percentage-point lower (6.50%) or 1-percentage-point higher (8.50%) than the current rate:
1% Decrease (6.5%)
Current discount
rate (7.5%)
1 % Increase (8.5%)
District's proportionate share of the net pension liability
$ 112,828
$ 77,375
$ 47,196
Pension plan fiduciary net position: Detailed information about the pension plan's fiduciary net position is available in the separately issued ERS financial report which is publically available at www.ers.ga.gov/formspubs/formspubs.
Payables to the Pension Plan: At June 30, 2015, the District reported a payable of $967 for the outstanding amount of contributions to the ERS pension plan required for the year ended June 30, 2015.
58
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 13. RETIREMENT PLANS (Continued)
Public School Employee Retirement System of Georgia (PSERS):
Plan Description
PSERS is a cost-sharing multiple-employer defined benefit pension plan established by the Georgia General Assembly in 1969 for the purpose of providing retirement allowances for public school employees who are not eligible for membership in the Teachers Retirement System of Georgia. These employees include bus drivers, maintenance, custodial, and lunchroom personnel. The ERS Board of Trustees, plus two additional trustees, administers PSERS. Title 47 of the O.C.G.A. assigns the authority to establish and amend the benefit provisions to the State Legislature. PSERS issues a publicly available financial report that can be obtained at www.ers.ga.gov/formspubs/formspubs.
Benefits Provided
A member may retire and elect to receive normal monthly retirement benefits after completion of ten years of creditable service and attainment of age 65. A member may choose to receive reduced benefits after age 60 and upon completion of ten years of service.
Upon retirement, the member will receive a monthly benefit of $14.75, multiplied by the number of years of creditable service. Death and disability benefits are also available through PSERS. Additionally, PSERS may make periodic cost-of-living adjustments to the monthly benefits. Upon termination of employment, member contributions with accumulated interest are refundable upon request by the member. However, if an otherwise vested member terminates and withdraws his/her member contribution, the member forfeits all rights to retirement benefits.
Funding Policy
The general assembly makes an annual appropriation to cover the employer contribution to PSERS on behalf of local school employees (bus drivers, cafeteria workers, and maintenance staff). The annual employer contribution required by statute is actuarially determined and paid directly to PSERS by the State Treasurer in accordance with O.C.G.A. 47-4-29(a) and 60(b). Contributions are expected to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability.
59
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 13. RETIREMENT PLANS (Continued)
Plan members who became members prior to July 1, 2012 contribute $4 per month for nine months each fiscal year. Individuals who became members on or after July 1, 2012 contribute $10 per month for nine months each fiscal year. The State of Georgia, although not the employer of PSERS members, is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS Board of Trustees. The District does not make an annual contribution to PSERS.
Employees who are covered by PSERS are eligible to participate in a supplemental defined contribution plan. If the employee contributes 1% of salary to the 403b plan administered by VALIC, s/he will receive a contribution equal to 2% of salary each month to match, for a total contribution of 3% of salary. The District's contributions to PSERS for the year ended June 30, 2015 was $631,785 with an average number of participants of 1,407.
Pension Liabilities and Pension Expense
At June 30, 2015, the District did not have a liability for a proportionate share of the net pension liability because of the related State of Georgia support. The amount of the State's proportionate share of the net pension liability associated with the District is as follows:
State of Georgia's porportionate share of the Net Pension Liability associated with the District
$7,320,584
The net pension liability was measured as of June 30, 2014. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2013. An expected total pension liability as of June 30, 2014 was determined using standard rollforward techniques. The State's proportion of the net pension liability associated with the District was based on actuarially determined contributions paid by the State during the fiscal year ended June 30, 2014.
For the year ended June 30, 2015, the District recognized pension expense of $635,746 and revenue of $635,746 for support provided by the State of Georgia.
60
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 13. RETIREMENT PLANS (Continued)
Actuarial assumptions: The total pension liability was determined by an actuarial valuation as of June 30, 2013, using the following actuarial assumptions, applied to all periods included in the measurement:
Inflation Salary increases Investment rate of return
3.00% N/A 7.50%, net of pension plan investment expense, including inflation
Mortality rates were based on the RP-2000 Combined Mortality Table set forward one year for males for the period after service retirement, for dependent beneficiaries, and for deaths in active service, and the RP-2000 Disabled Mortality Table set back two years for males and set forward one year for females for the period after disability retirement.
The actuarial assumptions used in the June 30, 2013 valuation were based on the results of an actuarial experience study for the period July 1, 2004 June 30, 2009.
The long-term expected rate of return on pension plan investments was determined using a log-normal distribution analysis in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The target asset allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table:
Asset class
Target allocation
Long-term expected real rate of return*
Fixed income Domestic large equities Domestic mid equities Domestic small equities International developed market equities International emerging market equities
Total
30.00% 39.70 3.70 1.60 18.90
6.10 100.00%
3.00% 6.50 10.00 13.00 6.50 11.00
* Rates shown are net of the 3.00% assumed rate of inflation
61
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 13. RETIREMENT PLANS (Continued)
Discount rate: The discount rate used to measure the total pension liability was 7.50%. The projection of cash flows used to determine the discount rate assumed that plan member contributions will be made at the current contribution rate and that employer and nonemployer contributions will be made at rates equal to the difference between actuarially determined contribution rates and the member rate. Based on those assumptions, the pension plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability.
Note 14. POSTEMPLOYMENT BENEFITS:
Georgia Retiree Health Benefit Fund
Plan Description
The District contributes to the Georgia School Personnel Postemployment Health Benefit Fund (the "Benefit Fund"), a cost-sharing multiple-employer defined benefit postemployment healthcare plan administered by the Department of Community Health. The Benefit Fund provides health insurance benefits to eligible retirees and their qualified beneficiaries. Pursuant to Title 45, Chapter 18 of the Official Code of Georgia Annotated, the authority to establish and amend the benefit provisions of the plan is assigned to the Board of Community Health. The Department of Community Health issues a publicly available financial report that includes financial statements and required supplementary information for the Benefit Fund. That report may be obtained from the Department of Community Health at 2 Peachtree Street, Atlanta, Georgia 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-three percent (23%) 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.
62
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 14. POSTEMPLOYMENT BENEFITS (Continued):
The contribution rate is established to fund both the active and retired employee health insurance plans based on projected "pay-as-you-go" financing requirements. Contributions are not based on the actuarially calculated annual required contribution (ARC) which represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each year and amortize any unfunded actuarial liabilities (or funding excess) over a period not to exceed thirty years.
The combined rates for the active and retiree contribution rates established by the Board for employees participating in the SHBP were as follows for the fiscal year ended June 30, 2015:
Certified Employees July 2014 June 2015
Non-Certified Employees July 2014 June 2015
$945.00 per member per month $596.20 per member per month
No additional contribution was required by the Board for fiscal year 2015 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 2015 2014 2013
Contribution $ 101,172,545 $ 97,431,371 $ 91,313,591
Contribution
Percentage 100% 100% 100%
63
COBB COUNTY SCHOOL DISTRICT Notes to the Basic Financial Statements JUNE 30, 2015
Note 15. CHANGE IN ACCOUNTING PRINCIPLE:
In connection with the implementation of Governmental Accounting Standards Board (GASB) Statement No. 68, Accounting and Financial Reporting for Pensions an amendment of GASB Statement No.27, and Statement No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date an amendment of GASB Statement No. 68, the District is required to change its accounting treatment of pension liabilities and the related pension expense. The new standard requires that the District's proportionate share of the net pension liability be recorded on the Statement of Net Position.
Therefore, in conjunction with the implementation of Statements 68 and 71, the following restatement was required to the beginning net position of Governmental Activities to properly recognize the District's net pension liability and related deferred outflows of resources for contributions made subsequent to the measurement date as of the end of the prior year:
Net Position, as Previously Reported Restatements for Implementaion of GASB No.'s 68 and 71
Net Pension Liability as of June 30, 2014 Deferred Outflows of Resources - Contributions
Governmental Activities
$ 1,543,463,000
(955,063,000) 66,750,000
Net Position, as Restated
$ 655,150,000
64
COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2015
Schedule of Proportionate Share of Net Pension Liability Teacher Retirement System of Georgia For the Year Ended June 30 (amounts expressed in thousands)
District's proportion of the net pension liability District's proportionate share of the net pension liability State of Georgia's proportionate share of the net pension liability associated with the District Total
District's covered-employee payroll during measurement period District's proportionate share of the net pension liability as a percentage of its covered-employee payroll Plan fiduciary net position as a percentage of the total pension liability
2015
5.327%
$
673,042
1,082
$
674,124
544,177
123.68% 84.03%
Note: Schedule is intended to show information for the last 10 fiscal years. Additional years will be displayed as they become available.
65
COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2015
Schedule of Contributions Teacher Retirement System of Georgia Last 10 Fiscal Years (amounts expressed in thousands)
Contractually required contribution
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
75,145 66,741 63,011 58,156 57,920 58,052 56,849 54,401 53,990 45,783
Contributions in relation to the
contractually required
contribution
75,145
66,741
63,011
58,156
57,920
58,052
56,849
54,401
53,990
45,783
Contribution Deficiency
$
-
-
-
-
-
-
-
-
-
-
District's covered-employee $ 570,929 544,177 551,528 564,936 565,694 594,769 612,597 585,717 583,771 495,485 payroll
Contributions as a percentage of covered-employee payroll
13.16%
12.26%
11.42%
10.29%
10.24%
9.76%
9.28%
9.29%
9.25%
9.24%
Source: District Records This schedule is presented to illustrate the requirement to show information for 10 years.
66
COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2015
Notes to Required Supplementary Information For the Year Ended June 30 (amounts expressed in thousands)
Changes of assumptions: In 2010 and later, the expectation of retired life mortality was changed to the RP-2000 Mortality Tables rather than the 1994 Group AnnuityMortality Table, which was used prior to 2010. In 2010, rates of withdrawal, retirement, disability and mortality were adjust to more closely reflect actual experience. In 2010, assumed rates of salary increase were adjusted to more closely reflect actual and anticipated experience.
Method and assumptions used in calculations of actuarially determined contributions: The actuarially determined contribution rates in the schedule of contributions are calculated as of June 30, three years prior to the end of the fiscal year in which contributions are reported. The following actuarial methods and assumptions were used to determine the contractually requred contributions for year ended June 30, 2015 reported in that schedule:
Valuation date Actuarial cost method Amortization method Remaining amortization period Asset valuation method Inflation rate Salary increases Investment rate of return
June 30, 2012 Entry Age Level percentage of payroll, open 30 years Seven-year smoothed market 3.00% 3.75-7.00%, including inflation 7.5%, net of pension plan investment
expense, including inflation
67
COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2015
Schedule of Proportionate Share of Net Pension Liability Employee Retirement System of Georgia For the Year Ended June 30 (amounts expressed in thousands)
District's proportion of the net pension liability District's proportionate share of the net pension liability District's covered-employee payroll District's proportionate share of the net pension liability as a percentage of its covered-employee payroll Plan fiduciary net position as a percentage of the total pension liability
2015
0.002063%
$
77
$
46
167.39% 77.99%
Note: Schedule is intended to show information for the last 10 fiscal years. Additional years will be displayed as they become available.
68
COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2015
Schedule of Contributions Employee Retirement System For the Year Ended June 30 (amounts expressed in thousands)
Contractually required contribution
Contributions in relation to the contractually required contribution
Contribution Deficiency
2015 2014 2013 2012 2011 2010 2009 2008 2007 2006
$ 11
9
18
14
13
13
14
15
18
16
11 $ -
9
18
14
13
13
14
15
18
16
-
-
-
-
-
-
-
-
-
District's covered-employee payroll
$ 49
46
122
123
123
121
133
142
169
157
Contributions as a percentage of covered-employee payroll
22.45% 19.57% 14.75% 11.38% 10.57% 10.74% 10.53% 10.56% 10.65% 10.19%
Source: District Records This schedule is presented to illustrate the requirement to show information for 10 years.
69
COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2015
Notes to Required Supplementary Information For the Year Ended June 30 (amounts expressed in thousands)
Changes of assumptions: There were no changes in assumptions or benefits that affect the measurement of the total pension liability since the prior measurement date.
Method and assumptions used in calculations of actuarially determined contributions: The actuarially determined contribution rates in the schedule of contributions are calculated as of June 30, three years prior to the end of the fiscal year in which contributions are reported. The following actuarial methods and assumptions were used to determine the contractually requred contributions for year ended June 30, 2015 reported in that schedule:
Valuation date Actuarial cost method Amortization method Remaining amortization period Asset valuation method Inflation rate Salary increases
Investment rate of return
June 30, 2012 Entry Age Level dollar, open 30 years Seven-year smoothed market 3.00% 2.725% - 4.625% for FY 2012-2013 5.45% - 9.25% for FY 2014 + 7.5%, net of pension plan investment
expense, including inflation
70
COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2015
Schedule of Proportionate Share of Net Pension Liability Public School Employee Retirement System of Georgia For the Year Ended June 30 (amounts expressed in thousands)
District's proportion of the net pension liability District's proportionate share of the net pension liability State of Georgia's proportionate share of the net pension liability associated with the District Total
District's covered-employee payroll during measurement period District's proportionate share of the net pension liability as a percentage of its covered-employee payroll Plan fiduciary net position as a percentage of the total pension liability
2015 0.0% 0
7,321
$
7,321
$
23,583
N/A 88.29%
Note: Schedule is intended to show information for the last 10 fiscal years. Additional years will be displayed as they become available.
71
COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2015
Notes to Required Supplementary Information For the Year Ended June 30 (amounts expressed in thousands) Changes of assumptions: The last experience investigation was prepared for the five-year period ending June 30, 2009, and based on the results of the investigation various assumptions and methods were revised and adopted by the board on December 16, 2010. The next experience investigaion will be prepared for the period July 1, 2009 through June 30, 2014.
72
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.
73
Miscellaneous Grants School Nutrition
(i3) Investing in Innovation Adult Education Psycho Education Center Title I
Special Education Vocational Education Title II
Race to the Top 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 federal revenues received to execute improvement in the following four areas: teacher effectiveness, implementation of standards and assessments, improvement in data use and collections, and supporting disadvantaged schools.
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.
74
USDA Fruits and Vegetables Title III
Title IV Local School Funds
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.
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 III Fund, the District-Wide Building Fund, and the Student Information Systems Fund.
75
COBB COUNTY SCHOOL DISTRICT COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2015
(amounts expressed in thousands)
ASSETS:
Cash and Cash Equivalents Federal and State Aid Receivable Accounts Receivable Due From Other Funds Prepaid Expenditures Inventories
Total Assets
LIABILITIES AND FUND BALANCES:
Liabilities: Accounts Payable Intergovernmental Payables Accrued Payroll and Payroll Withholdings Accrued Employee Benefits Due to Other Funds Unearned Revenue Total Liabilities
Fund Balances: Nonspendable Restricted Committed Assigned Unassigned Total Fund Balances
Total Liabilities and Fund Balances
Special Revenue
Donations
Facility Use/ Public
Safety
After School Program
Performing Arts/ Artist
at School Program
$ 118 $ 1,396 $ 3,781 $
231
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
$ 118 $ 1,396 $ 3,781 $
231
$
18 $
5$
11 $
2
-
-
-
-
1
18
1
-
-
3
-
-
-
-
-
-
-
-
-
-
19
26
12
2
-
-
-
-
-
-
-
-
99
1,370
3,769
229
-
-
-
-
-
-
-
-
99
1,370
3,769
229
$ 118 $ 1,396 $ 3,781 $
231
76
Tuition School/ Adult High School
Misc. Grants
Special Revenue
School Nutrition
(i3) Investing in Innovation
Adult Education
Psycho Education
Center
$ 1,235 $ 1
-
$ 1,236 $
32 $ 20,390 $
12
-
-
12
-
-
-
-
-
1,834
44 $ 22,236 $
5$ -
-
5$
-$
-
854
1,233
-
-
-
-
-
-
-
-
854 $ 1,233
$
21 $
-
100 8 -
129
5$ -
84 $ -
-
1,554
-
586
-
-
-
717
5
2,941
1$ -
5$
16
-
-
-
24
191
-
7
77
-
818
610
-
-
-
1
854
894
1 1,106 -
1,107
$ 1,236 $
-
1,834
39
17,461
-
-
-
-
-
-
39
19,295
44 $ 22,236 $
4 -
4
5$
-
-
-
-
-
-
-
339
-
-
-
339
854 $ 1,233
Continued---
77
COBB COUNTY SCHOOL DISTRICT COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2015
(amounts expressed in thousands)
ASSETS:
Cash and Cash Equivalents Federal and State Aid Receivable Accounts Receivable Due From Other Funds Prepaid Expenditures Inventories
Total Assets
LIABILITIES AND FUND BALANCES:
Liabilities: Accounts Payable Intergovernmental Payables Accrued Payroll and Payroll Withholdings Accrued Employee Benefits Due to Other Funds Unearned Revenue Total Liabilities
Fund Balances: Nonspendable Restricted Committed Assigned Unassigned Total Fund Balances
Total Liabilities and Fund Balances
Special Revenue
Title I
Special
Vocational
Education Education
Title II
$
-$
-$
-$
-
5,493
4,931
189
515
-
-
-
-
-
-
-
-
-
-
7
1
-
-
-
-
$ 5,493 $ 4,931 $ 196 $ 516
$ 142 $
-$
-$
7
-
-
-
3
1,079
1,194
-
67
299
433
-
17
3,973
3,304
196
422
-
-
-
-
5,493
4,931
196
516
-
-
7
1
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(7)
(1)
-
-
-
-
$ 5,493 $ 4,931 $ 196 $ 516
78
Race to the Top Grant
Homeless Grant
Special Revenue
USDA Fruits and Vegetables
Title III
Title IV
Local School Funds
$
-$
-$
-$
-$
- $ 8,242
5
5
-
296
132
-
-
-
-
-
-
-
-
-
-
-
-
175
-
-
-
-
1
-
-
-
-
-
-
-
$
5$
5$
- $ 296 $ 133 $ 8,417
$
-$
-$
-$
30 $
8$
-
-
-
-
-
-
-
-
-
-
72
-
-
-
-
-
16
-
-
5
5
-
178
125
-
-
-
-
-
-
-
5
5
-
296
133
-
-
-
-
-
1
-
-
-
-
-
-
-
-
-
-
-
-
8,417
-
-
-
-
-
-
-
-
-
-
(1)
-
-
-
-
-
-
8,417
$
5$
5$
- $ 296 $ 133 $ 8,417
Continued---
79
COBB COUNTY SCHOOL DISTRICT COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2015
(amounts expressed in thousands)
ASSETS:
Cash and Cash Equivalents Federal and State Aid Receivable Accounts Receivable Due From Other Funds Prepaid Expenditures Inventories
Total Assets
LIABILITIES AND FUND BALANCES:
Liabilities: Accounts Payable Intergovernmental Payables Accrued Payroll and Payroll Withholdings Accrued Employee Benefits Due to Other Funds Unearned Revenue Total Liabilities
Fund Balances: Nonspendable Restricted Committed Assigned Unassigned
Total Fund Balances Total Liabilities and Fund Balances
Districtwide
Building
Capital Projects Special Purpose
Local Option Sales Tax III
Student Information
Systems
Total
$
787 $
-
-
-
-
-
$
787 $
29,090 $ 2,216 -
-
31,306 $
396 $ -
-
396 $
65,703 15,881
12 175 10
1,834
83,615
$
54 $
-
-
54
7,502 $ -
7,502
-$ -
-
7,911 3
4,301 1,446 9,636
717 24,014
733 -
733
$
787 $
23,804
-
23,804
31,306 $
396 -
396
396 $
1,844 41,308 14,990 1,468
(9)
59,601
83,615
Concluded.
80
(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, 2015
(amounts expressed in thousands)
REVENUES: Taxes Intergovernmental Tuition and Fees Interest Income Athletic Ticket Sales Other
Total Revenues
Donations
$
-
-
-
-
76
76
Special Revenue
Facility
Use/
After
Public
School
Safety
Program
$
-$
-
-
-
1,263
8,934
-
-
-
-
-
-
1,263
8,934
Performing Arts/Artist at
School Program
$
-
-
396
-
1
397
EXPENDITURES: Current:
Instruction Pupil Services Instructional Services School and Administrative
Services Student Transportation Maintenance and Operations Student Activities Capital Outlay
Total Expenditures
Excess (deficiency) of Revenues Over (Under) Expenditures
Other Financing Sources (Uses): Transfers-In Transfers-Out Proceeds from Sale of Capital Assets Total Other Financing Sources (Uses)
1
-
888
276
9
-
-
-
38
-
-
-
54
511
7,198
-
-
-
-
-
-
1,308
-
-
-
-
-
-
-
-
51
-
102
1,819
8,137
276
(26)
(556)
797
121
-
855
-
-
-
(123)
-
-
-
-
-
-
-
732
-
-
Net Change in Fund Balances Fund Balances, Beginning of Year
(26)
176
797
121
125
1,194
2,972
108
Fund Balances, End of Year
$
99 $ 1,370 $ 3,769 $
229
81
Tuition School/ Adult High School
$
-
-
750
-
-
750
Misc. Grants
$
-
47
-
-
68
115
Special Revenue
School Nutrition
(i3) Investing in Innovation
$
-$
-
34,220
7
18,215
-
47
-
-
-
21
-
52,503
7
Adult Education
$
-
1,029
-
-
-
1,029
Psycho Education
Center
$
-
5,262
-
-
24
5,286
497 -
166
213 -
876
(126)
220 -
220
94
1,013
$ 1,107 $
8
-
-
-
68
-
-
53,444
-
-
-
-
-
-
-
444
76
53,888
39
(1,385)
-
-
-
-
-
3
-
3
39
(1,382)
-
20,677
39 $ 19,295 $
-
-
4,056
-
-
851
6
-
301
-
1,029
55
-
-
17
-
-
4
-
-
-
-
-
1
6
1,029
5,285
1
-
1 3
4$
-
1
-
-
-
-
-
-
-
-
-
1
-
338
-$
339
Continued---
82
COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2015
(amounts expressed in thousands)
Special Revenue
REVENUES: Taxes Intergovernmental Tuition and Fees Interest Income Athletic Ticket Sales Other
Total Revenues
EXPENDITURES: Current:
Instruction Pupil Services Instructional Services School and Administrative
Services Student Transportation Maintenance and Operations Student Activities Capital Outlay
Total Expenditures
Excess (deficiency) of Revenues Over (Under) Expenditures
Other Financing Sources (Uses): Transfers-In Transfers-Out Proceeds from Sale of Capital Assets Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances, Beginning of Year
Fund Balances, End of Year
Title I
$
-
20,731
-
-
-
20,731
Special Education
$
-
21,332
-
-
-
21,332
Vocational Education
$
-
738
-
-
-
738
Title II
$
-
2,005
-
-
-
2,005
8,849 33
9,170
2,412 250 17
20,731
6,041 4,903 7,952
1,144 1,292
21,332
516
-
-
-
61
1,964
10
41
-
-
-
-
-
-
151
-
738
2,005
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
$
-$
-$
-$
-
83
Special Revenue
Race to the Top
Homeless Grant
USDA Fruit and Vegetables
Title III
Title IV
Local School Funds
$
-$
-$
-$
-$
-$
-
39
36
132
1,387
643
-
-
-
-
-
-
28,180
-
-
-
-
-
10
-
-
-
-
-
3,013
-
-
-
-
-
-
39
36
132
1,387
643
31,203
5
-
-
52
320
-
-
-
-
201
128
-
34
23
-
887
56
-
-
1
132
239
44
-
-
12
-
8
95
-
-
-
-
-
-
-
-
-
-
-
-
32,164
-
-
-
-
-
-
39
36
132
1,387
643
32,164
-
-
-
-
-
(961)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(961)
-
-
-
-
-
9,378
$
-$
-$
-$
-$
- $ 8,417
Continued---
84
COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2015
(amounts expressed in thousands)
REVENUES:
Taxes Intergovernmental Tuition and Fees Interest Income Athletic Ticket Sales Other
Total Revenues
DistrictWide
Building
$
-
-
-
2
9
11
Capital Projects Special Purpose
Local Option Sales Tax III
$
-
4,222
-
91
-
4,313
Student Information
Systems
$
1
-
-
1
-
2
Total
$
1
91,830
57,738
151
3,013 199
152,932
EXPENDITURES: Current:
Instruction Pupil Services Instructional Services School and Administrative
Services Student Transportation Maintenance and Operations Student Activities Capital Outlay
Total Expenditures
Excess (deficiency) of Revenues Over (Under) Expenditures
Other Financing Sources (Uses): Transfers-In Transfers-Out Proceeds from Sale of Capital Assets Total Other Financing Sources (Uses)
-
417 -
490 907
(896)
793 -
13 806
-
4,063 -
40,956 45,019
(40,706)
-
-
21,509
-
6,125
-
20,726
-
71,007
-
1,674
-
1,312
-
32,164
-
42,110
-
196,627
2
(43,695)
-
1,868
(2)
(125)
-
16
(2)
1,759
Net Change in Fund Balances Fund Balances, Beginning of Year Fund Balances, End of Year
(90)
823
$
733 $
(40,706) 64,510 23,804 $
-
(41,936)
396
101,537
396 $ 59,601
Concluded.
85
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, 2015
(amounts expressed in thousands)
REVENUES: Local
Total Revenues
Budgeted Amounts
Original
Final
Actual Amounts
$
77 $
77 $
76
77
77
76
Variance With Final Budget -
Positive (Negative)
$
(1)
(1)
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services General Administration School Administration Central Operations
Other Support Services
Total Expenditures
4
4
1
3
20
20
9
11
72
72
38
34
2
2
1
1
9
9
3
6
85
85
48
37
-
-
2
(2)
192
192
102
90
Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year
(115)
(115)
(26)
89
125
125
125
-
$
10 $
10 $
99 $
89
86
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, 2015
(amounts expressed in thousands)
REVENUES: Local Other
Total Revenues
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget -
Positive (Negative)
$
1,218 $
1,261 $
1,263 $
2
855
855
855
-
2,073
2,116
2,118
2
EXPENDITURES:
Maintenance and Operation of Plant
1,415
1,415
1,308
107
Community Service Operations
658
701
634
67
Total Expenditures
2,073
2,116
1,942
174
Net Change in Fund Balance
-
-
176
176
Fund Balance, Beginning of Year
1,194
1,194
1,194
-
Fund Balance, End of Year
$
1,194 $
1,194 $
1,370 $
176
87
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, 2015
(amounts expressed in thousands)
REVENUES: Local
Total Revenues
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget -
Positive (Negative)
$
8,430 $
8,560 $
8,934 $
374
8,430
8,560
8,934
374
EXPENDITURES: Instruction Community Service Operations
Total Expenditures
827
827
888
(61)
7,603
8,096
7,249
847
8,430
8,923
8,137
786
Net Change in Fund Balance Fund Balance, Beginning of Year
Fund Balance, End of Year
$
2,972 2,972 $
(363) 2,972 2,609 $
797 2,972 3,769 $
1,160 -
1,160
88
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, 2015
(amounts expressed in thousands)
REVENUES: Local
Total Revenues
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget -
Positive (Negative)
$
333 $
333 $
397 $
64
333
333
397
64
EXPENDITURES: Instruction
Total Expenditures
333
333
276
57
333
333
276
57
Net Change in Fund Balance Fund Balance, Beginning of Year
-
-
121
121
108
108
108
-
Fund Balance, End of Year
$
108 $
108 $
229 $
121
89
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, 2015
(amounts expressed in thousands)
REVENUES: Local Other
Total Revenues
Budgeted Amounts
Original
Final
Actual Amounts
$
605 $
861 $
750
220
220
220
825
1,081
970
Variance With Final Budget -
Positive (Negative)
$
(111)
-
(111)
EXPENDITURES: Instruction Improvement of Instructional Services Educational Media Services School Administration Community Services Operations
Total Expenditures
356
609
497
112
126
129
165
(36)
10
10
-
10
27
27
12
15
307
307
202
105
826
1,082
876
206
Net Change in Fund Balance
(1)
(1)
94
95
Fund Balance, Beginning of Year
1,013
1,013
1,013
-
Fund Balance, End of Year
$
1,012 $
1,012 $
1,107 $
95
90
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, 2015
(amounts expressed in thousands)
REVENUES: Local State Federal
Total Revenues
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget -
Positive (Negative)
$
25 $
76 $
-
12
200
223
56 $ 12 47
(20) -
(176)
225
311
115
(196)
EXPENDITURES: Instruction Improvement of Instructional Services
Total Expenditures
-
55
225
255
225
310
8
47
68
187
76
234
Net Change in Fund Balance Fund Balance, Beginning of Year
-
1
39
38
-
-
-
-
Fund Balance, End of Year
$
-$
1$
39 $
38
91
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, 2015
(amounts expressed in thousands)
REVENUES: Local State Federal Other
Total Revenues
EXPENDITURES: School Nutrition Program
Total Expenditures
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget -
Positive (Negative)
$
19,671 $
17,541 $
18,261 $
1,204
1,204
1,286
31,264
33,350
32,934
5
5
25
52,144
52,100
52,506
720 82 (416) 20
406
55,244 55,244
55,985 55,985
53,888 53,888
2,097 2,097
Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year
(3,100) 20,677
(3,885) 20,677
(1,382) 20,677
$
17,577 $
16,792 $
19,295 $
2,503 -
2,503
92
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, 2015
(amounts expressed in thousands)
REVENUES: Federal
Total Revenues
Budgeted Amounts
Original
Final
Actual Amounts
$
4$
10 $
7
4
10
7
Variance With Final Budget -
Positive (Negative)
$
(3)
(3)
EXPENDITURES: Improvement of Instructional Services
Total Expenditures
4
10
6
4
4
10
6
4
Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year
-
-
1
1
3
3
3
-
$
3$
3$
4$
1
93
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, 2015
(amounts expressed in thousands)
REVENUES:
State Federal
Total Revenues
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget -
Positive (Negative)
$
378 $
444 $
439 $
(5)
560
611
590
(21)
938
1,055
1,029
(26)
EXPENDITURES: Community Service Operations
Total Expenditures
938
1,055
1,029
26
938
1,055
1,029
26
Net Change in Fund Balance Fund Balance, Beginning of Year
-
-
-
-
-
-
-
-
Fund Balance, End of Year
$
-$
-$
-$
-
94
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, 2015
(amounts expressed in thousands)
REVENUES:
State Federal Other
Total Revenues
Budgeted Amounts
Original
Final
Actual Amounts
$
5,415 $
5,292 $
4,940
410
535
322
36
36
24
5,861
5,863
5,286
Variance With Final Budget -
Positive (Negative)
$
(352)
(213)
(12)
(577)
EXPENDITURES:
Instruction Pupil Services Improvement of Instructional Services General Administration School Administration Business Services Maintenance and Operation of Plant Student Transportation
Total Expenditures
4,235
4,389
4,057
332
1,211
1,024
851
173
318
335
301
34
54
52
49
3
3
2
2
-
8
12
4
8
8
8
4
4
24
42
17
25
5,861
5,864
5,285
579
Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year
-
(1)
1
2
338
338
338
-
$
338 $
337 $
339 $
2
95
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, 2015
(amounts expressed in thousands)
REVENUES: Federal
Total Revenues
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services General Administration School Administration Maintenance Student Transportation Other Support Services School Nutrition
Total Expenditures
Budgeted Amounts
Original
Final
$
19,797 $
29,018
19,797
29,018
Actual Amounts
$
20,731
20,731
8,390 20
8,283 955 124
2,025 -
19,797
13,146 59
11,504 1,232
2 305 2,769 1
29,018
8,859 33
8,704 885 1 250
1,998 1
20,731
Variance With Final Budget -
Positive (Negative)
$
(8,287)
(8,287)
4,287 26
2,800 347 1 55 771 -
8,287
Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year
-
-
-
-
-
-
-
-
$
-$
-$
-$
-
96
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, 2015
(amounts expressed in thousands)
REVENUES: Federal
Total Revenues
Budgeted Amounts
Original
Final
Actual Amounts
$
18,296 $
25,527 $
21,332
18,296
25,527
21,332
Variance With Final Budget -
Positive (Negative)
$
(4,195)
(4,195)
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services General Administration Student Transportation
Total Expenditures
8,422 4,597 2,931 1,096 1,250
18,296
7,312 5,214 9,829 1,381 1,791
25,527
6,041 4,903 7,952 1,144 1,292
21,332
1,271 311
1,877 237 499
4,195
Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year
-
-
-
-
-
-
-
-
$
-$
-$
-$
-
97
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, 2015
(amounts expressed in thousands)
REVENUES: Federal
Total Revenues
Budgeted Amounts
Original
Final
Actual Amounts
$
612 $
738 $
738
612
738
738
Variance With Final Budget -
Positive (Negative)
$
-
-
EXPENDITURES:
Instruction
415
667
667
-
Improvement of Instructional Services
195
59
59
-
General Administration
-
10
10
-
Federal Grant Administration
2
2
2
-
Total Expenditures
612
738
738
-
Net Change in Fund Balance Fund Balance, Beginning of Year
-
-
-
-
-
-
-
-
Fund Balance, End of Year
$
-$
-$
-$
-
98
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, 2015
(amounts expressed in thousands)
REVENUES: Federal
Total Revenues
Budgeted Amounts
Original
Final
Actual Amounts
$
1,788 $
2,783 $
2,005
1,788
2,783
2,005
Variance With Final Budget -
Positive (Negative)
$
(778)
(778)
EXPENDITURES: Improvement of Instructional Services General Administration
Total Expenditures
1,520
2,513
1,796
717
268
270
209
61
1,788
2,783
2,005
778
Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year
-
-
-
-
-
-
-
-
$
-$
-$
-$
-
99
COBB COUNTY SCHOOL DISTRICT RACE TO THE TOP-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, 2015
(amounts expressed in thousands)
REVENUES: Federal
Total Revenues
Budgeted Amounts
Original
Final
Actual Amounts
$
43 $
43 $
39
43
43
39
Variance With Final Budget -
Positive (Negative)
$
(4)
(4)
EXPENDITURES: Improvement of Instructional Services Instruction
Total Expenditures
-
-
34
(34)
43
43
5
38
43
43
39
4
Net Change in Fund Balance
-
-
-
-
Fund Balance, Beginning of Year
-
-
-
-
Fund Balance, End of Year
$
-$
-$
-$
-
100
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, 2015
(amounts expressed in thousands)
REVENUES: Federal
Total Revenues
Budgeted Amounts
Original
Final
Actual Amounts
$
64 $
70 $
36
64
70
36
Variance With Final Budget -
Positive (Negative)
$
(34)
(34)
EXPENDITURES: General Administration Student Transportation
Total Expenditures
39
40
24
16
25
30
12
18
64
70
36
34
Net Change in Fund Balance
-
-
-
-
Fund Balance, Beginning of Year
-
-
-
-
Fund Balance, End of Year
$
-$
-$
-$
-
101
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, 2015
(amounts expressed in thousands)
REVENUES: Federal
Total Revenues
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget -
Positive (Negative)
$
34 $
132 $
132 $
-
34
132
132
-
EXPENDITURES: School Nutrition
Total Expenditures
34
132
132
-
34
132
132
-
Net Change in Fund Balance
-
-
-
-
Fund Balance, Beginning of Year
-
-
-
-
Fund Balance, End of Year
$
-$
-$
-$
-
102
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, 2015
(amounts expressed in thousands)
REVENUES: Federal
Total Revenues
Budgeted Amounts
Original
Final
Actual Amounts
$
1,279 $
2,384 $
1,387
1,279
2,384
1,387
Variance With Final Budget -
Positive (Negative)
$
(997)
(997)
EXPENDITURES:
Instruction
47
198
52
146
Pupil Services
228
329
201
128
Improvement of Instructional Services
730
1,217
862
355
Student Transportation
35
30
8
22
Other Support Services
210
579
239
340
Federal Grant Administration
29
31
25
6
Total Expenditures
1,279
2,384
1,387
997
Net Change in Fund Balance
-
-
-
-
Fund Balance, Beginning of Year
-
-
-
-
Fund Balance, End of Year
$
-$
-$
-$
-
103
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, 2015
(amounts expressed in thousands)
REVENUES: Federal
Total Revenues
Budgeted Amounts
Original
Final
$
1,652 $
692
1,652
692
Actual Amounts
$
643
643
Variance With Final Budget -
Positive (Negative)
$
(49)
(49)
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services Federal Grant Administration General Administration Business Support Services Maintenance & Operations Student Transportation Other Support Service
Total Expenditures
877
369
321
48
264
133
128
5
18
7
5
2
181
47
51
(4)
-
12
11
1
48
18
14
4
13
-
-
-
204
88
95
(7)
47
18
18
-
1,652
692
643
49
Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year
-
-
-
-
-
-
-
-
$
-$
-$
-$
-
104
Internal Service Funds These funds are established to account for the financing of goods or services provided by one department to other departments on a cost-reimbursement basis. The District has two individual funds in the Internal Service Funds category. The Unemployment Compensation and SelfInsurance are used to account for the District's self-insurance programs.
105
COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF FUND NET POSITION INTERNAL SERVICE FUNDS JUNE 30, 2015
(amounts expressed in thousands)
Assets:
Unemployment Compensation
Fund
SelfInsurance
Fund
Total
Current Assets: Cash Due from Other Funds Prepaids
Total Current Assets
$
588 $
6,920 $
7,508
4
1
5
-
4
4
592
6,925
7,517
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 Liablilities
Net Position:
Unrestricted
$
17
307
324
-
1,852
1,852
-
11
11
-
11
11
17
2,181
2,198
-
4,555
4,555
17
6,736
6,753
575 $
189 $
764
106
COBB COUNTY SCHOOL DISTRICT
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITION
INTERNAL SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2015
(amounts expressed in thousands)
OPERATING REVENUES: Charges for Services
Total Revenues
Unemployment Compensation
Fund
SelfInsurance
Fund
Total
$
256 $
4,961 $
5,217
256
4,961
5,217
OPERATING EXPENSES: School and Administrative Services
135
5,784
5,919
Operating Income (Loss) Transfers-In
121
(823)
(702)
-
445
445
Change in Net Position Total Net Position, Beginning of Year
121
(378)
(257)
454
567
1,021
Total Net Position, End of Year
$
575 $
189 $
764
107
COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2015
(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 Operating Activities
Cash Flows from Noncapital Financing Activities: Transfers-In
Net Cash Provided by Noncapital Financing Activities
Net Change in Cash and Cash Equivalents
Cash and Cash Equivalents at Beginning of Year
Cash and Cash Equivalents at End of Year
Reconciliation of Operating Income (Loss) to Net Cash Provided by Operating Activities:
Operating Income (Loss) Adjustments to Reconcile Operating Income
(Loss) to Net Cash Provided by Operating Activities:
Decrease in Accounts Receivable Decrease in Due From Other Funds Decrease in Prepaid Items Increase in Claims Payables Decrease in Accounts Payable
Total Adjustments Net Cash Provided by Operating Activities
Unemployment Compensation
Fund
SelfInsurance
Fund
Total
$
716 $
12,264 $
12,980
-
(360)
(360)
(128)
(4,743)
(4,871)
-
(686)
(686)
588
6,475
7,063
-
445
445
-
445
445
588
6,920
7,508
-
-
-
$
588 $
6,920 $
7,508
$
121 $
(823) $
(702)
-
104
104
460
7,199
7,659
-
53
53
-
51
51
7
(109)
(102)
467
7,298
7,765
$
588 $
6,475 $
7,063
108
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.
109
COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES FIDUCIARY FUNDS JUNE 30, 2015
(amounts expressed in thousands)
Agency Funds
ASSETS: Cash and Cash Equivalents
Student Activity
Payroll Withholding
Total
$
1,338 $
35,027 $
36,365
Total Assets
1,338
35,027
36,365
LIABILITIES: Due to Student Groups Payroll Withholdings Payable
Total Liabilities
1,338 -
$
1,338 $
35,027
35,027 $
1,338 35,027
36,365
110
COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF CHANGES IN FIDUCIARY ASSETS AND LIABILITIES FIDUCIARY FUNDS FOR THE YEAR ENDED JUNE 30, 2015
(amounts expressed in thousands)
ASSETS: Cash and Cash Equivalents
Balance, Beginning of Year Additions Deductions
Balance, End of Year
Student Activity
Payroll Withholding
$
1,201 $
19,819 $
1,480
468,437
(1,343)
(453,229)
$
1,338 $
35,027 $
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
$
1,201 $
1,480 (1,343)
1,338
-$ -
-
-
19,819
-
468,437
-
(453,229)
-
35,027
1,201
19,819
1,480 (1,343)
468,437 (453,229)
$
1,338 $
35,027 $
Total
21,020 469,917 (454,572)
36,365
1,201 1,480 (1,343) 1,338
19,819 468,437 (453,229)
35,027
21,020 469,917 (454,572)
36,365
111
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COBB COUNTY SCHOOL DISTRICT SPLOST 3 - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2015
LOCATION/DESCRIPTION
Approved Budget
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 BRUMBY ELEMENTARY BRUMBY REPLACEMENT 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 HAVEN @ SKY VIEW 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 LABELLE ELEMENTARY LASSITER HIGH
$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 1,080,925
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 19,710,822
Revised Budget
Expended Inception through 06/30/15
$1,108,920 1,397,616 1,371,811 2,466,948 2,274,580 690,574 4,511,280 4,539,576 838,604 1,574,515 6,179,276 1,476,397 2,336,581 3,900,861 1,206,095 1,429,167 3,306,941 2,261,923 1,132,543 5,740,445 6,585,672 1,935,806 3,591,944 184,107 6,046,881 988,301 2,033,653 1,907,843 6,419,387 3,221,729 2,438,170 2,575,277 2,513,416 1,599,330 2,422,632 2,345,971 541,642
20,230,345 1,506,676 1,537,210 3,340,678 4,043,151 1,564,571 10,961,059 4,125,709 1,750,378 2,392,842 1,322,021 21,616,104 312,664 1,733,813 20,900 1,617,459 997,340 3,896,521 3,010,782 1,389,373 3,542,999 3,270,061 1,435,789 2,599,251 5,890,938 23,328,830 3,461,410 3,188,221 1,290,258 20,921,621
$1,108,514 1,396,802 1,350,001 2,464,735 2,274,174
689,760 4,510,870 4,523,094
765,955 1,574,110 6,178,815 1,475,993 2,335,687 3,900,406 1,204,611 1,428,761 3,306,941 2,258,000 1,130,651 5,736,561 6,585,216 1,935,351 3,591,487
184,107 6,046,428
987,845 2,019,199 1,907,387 6,418,977 3,178,038 2,437,710 2,574,815 2,512,553 1,597,843 2,422,174 2,345,513
541,640 20,229,479
1,506,220 1,536,014 3,241,287 4,041,259 1,562,646 10,960,133 4,112,959 1,749,565 2,392,696 1,321,566 21,615,322
312,659 1,696,584
15,606 1,616,598
996,478 3,896,064 3,010,373 1,388,917 3,542,088 3,266,084 1,433,976 2,499,649 5,890,529 16,542,760 3,458,799 3,165,307 1,289,850 20,917,165
Expended FY15
$61,701 10,745 168,716 154,810 194,782 70,013 51,855 64,531 696,043 53,654 46,298 76,920 166,291 225,599 57,989 146,726
162,618
68,573 110,603
75,988 235,845 96,264
57,717 94,823 90,684 58,997 67,831 115,978 82,307 92,504 80,466 49,643 66,659 270,081
110,008
65,012 80,915 697,702 139,783 102,992 46,117 191,711 70,197 208,401 75,609 340,411
831,618
15,606 78,282 55,059 99,403 198,127 68,126 53,486 398,263 86,971 141,382 129,789 3,788,989 68,138 79,888 85,133 144,894
Encumbered as of 6/30/15
17,125 15,662 33,576 83,844 3,786 95,777 1,602,671 17,998 2,440
Uncommitted
$406 814
4,685 2,213
406 814 410 820 39,073 405 461 404 894 455 1,484 406
3,923 1,892 3,884
456 455 457
453 456 14,454 456 410 43,691 460 462 863 1,487 458 458
2 866 456 1,196 15,547 1,892 1,925 926 12,750 813 146 455 782
5 37,229
1,508 861 862 457 409 456 911
3,977 1,813 3,825
409 5,183,399
2,611 4,916
408 2,016
112
COBB COUNTY SCHOOL DISTRICT SPLOST 3 - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2015
LOCATION/DESCRIPTION
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 REPLACEMENT ES 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 ELEMENTARY SOPE CREEK ELEMENTARY SOUTH COBB HIGH SPRAYBERRY HIGH STILL ELEMENTARY SYSTEMWIDE TAPP MIDDLE TEASLEY ELEMENTARY TEASLEY PRIMARY (FORMALLY BROWN ES) TIMBER RIDGE ELEMENTARY TRITT ELEMENTARY VARNER ELEMENTARY VAUGHAN ELEMENTARY WALTON HIGH WEST COBB 9TH GRADE CENTER WHEELER HIGH 440 GLOVER STREET 514 GLOVER STREET
538 GLOVER STREET 590 COMMERCE PARK DRIVE TOTAL PROJECT EXPENDITURES
Approved Budget
1,078,833 2,194,040
747,495 2,541,438
78,500 -
28,150,542 4,925,337 1,327,752
820,382 518,652 110,691 18,904,274 690,684 4,945,324 914,540
2,083,632 2,433,140 3,828,525
937,614 3,006,933 29,811,178 1,924,009
772,510 7,299,608
63,477 3,300,243
17,072,723
926,767 26,949,449 17,804,561 3,742,333
657,886 896,148 323,888 1,611,065 372,663 786,539 1,446,584 1,415,981 1,057,753 899,547 19,920,740
1,262,673 5,472,621 28,170,146 6,227,104 28,519,045 25,333,056
970,841 231,269,444
6,640,133 1,782,903 1,077,413
769,896 1,473,177 4,070,429
613,490 3,456,045 18,303,208 9,409,088
379,955 491,861
229,503 -
$797,656,675
Revised Budget
2,230,637 2,194,173 1,777,223 2,658,099 1,499,769
370,770 22,115,080
5,677,679 1,053,981
700,343 516,902 758,182 11,814,580 1,576,796 8,740,552 1,313,483 356,339 2,024,211 2,720,083 3,693,118 1,312,314 2,547,603 21,694,084 2,957,154 794,278 3,544,869 1,098,991 6,823,255 694,530 9,073,260 1,447,787 22,172,324 14,081,407 4,703,592 1,146,021 1,394,611 724,593 2,898,605 453,016 1,853,464 1,745,529 1,012,681 1,444,596 1,532,272 11,279,078 243,695 383,049 7,667,381 31,749,434 5,365,387 25,902,897 15,863,266 2,447,498 15,562,638 6,007,970 13,120,248 731,583 1,137,556 1,978,042 3,272,459 1,385,222 7,298,415
29,529,758 10,512,793
7,606,682
510,976 79,864
$633,974,115
Expended Inception through 06/30/15
2,229,808 2,193,763 1,776,813 2,656,655 1,498,851
370,767 22,114,481 4,087,704
1,052,436 698,472 516,899 756,857
11,813,657 1,573,862 7,123,798 1,308,208
356,338 2,022,302 2,717,768 3,690,798 1,310,408 2,545,671 21,691,318 2,867,864
794,272 3,538,323 1,047,849 6,815,881
693,511 9,071,348 1,445,123 22,161,223 14,076,733 4,367,989 1,144,117 1,392,707
722,689 2,896,670
419,866 1,851,457 1,743,625 1,011,041 1,442,693 1,530,364 11,277,167
242,193 383,046 7,053,026 31,748,948 5,363,070 25,900,359 15,860,683 2,441,216 9,004,990 5,999,568 12,886,591 729,677 1,133,669 1,975,730 3,270,551 1,381,874 7,292,724
29,178,424 8,376,777
4,905,500
433,521 78,346
$610,169,985
Expended FY15
66,628 47,483 151,689 51,214 255,269
88,880 107,033
38,560 44,680 62,959 2,793,166 259,108 356,338 90,172 343,084 191,665 57,381 96,975 124,513 963,833 285,290 78,244 59,064 128,853 60,402 47,157 246,047 92,999 2,902,780 45,157 97,054 62,298 727,007 126,904 66,176 76,885 75,174 224,872 61,831 4,954,538 84,083 100,134 96,149 74,170 1,322,183 11,040 661,256 10,783,673 33,467 59,172 76,832 65,980 61,840 163,998 1,110,129 462,623 604,169
44,565 18,135 $45,019,226
Encumbered as of 6/30/15
1,489,531 259,013 349,569 1,203 137,492 55,407 69,008 152,107
1,373 -
$4,387,582
Uncommitted
829 410 410 1,444 918
3 599 1,589,975 1,545 1,871
3 1,325
923 2,934 127,223 5,275
1 1,909 2,315 2,320 1,906 1,932 2,766 89,290
6 6,546 51,142 7,374 1,019 1,912 2,664 11,101 4,674 76,590 1,904 1,904 1,904 1,935 33,150 2,007 1,904 1,640 1,903 1,908 1,911 1,502
3 264,786
486 2,317 2,538 2,583 5,079 6,557,648 8,402 96,165 1,906 3,887 2,312 1,908 3,348 5,691
295,927 2,067,008 2,549,075
76,082 1,518
$19,416,548
113
COBB COUNTY SCHOOL DISTRICT SPLOST 4 - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2015
LOCATION/DESCRIPTION
Approved Budget
Revised Budget
Expended Inception through 06/30/15
ACWORTH INTERMEDIATE ADDISON ELEMENTARY ADULT EDUCATION CENTER ALLATOONA HIGH ARGYLE ELEMENTARY AUSTELL ELEMENTARY AWTREY MIDDLE BAKER ELEMENTARY BARBER MIDDLE BELLS FERRY ELEMENTARY BELMONT HILLS ELEMENTARY BIG SHANTY ELEMENTARY BIRNEY ELEMENTARY BLACKWELL ELEMENTARY BRUMBY ELEMENTARY BRUMBY REPLACEMENT ES BRYANT ELEMENTARY BULLARD ELEMENTARY CAMPBELL HIGH CAMPBELL MIDDLE CHALKER ELEMENTARY CHEATHAM HILL ELEMENTARY CLARKDALE REPLACEMENT ES 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 COBB REPLACEMENT MIDDLE EAST SIDE REPLACEMENT ES 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 @ SKY VIEW HAVEN @ FITZHUGH LEE HAVEN @ HAWTHORNE HAWTHORNE ADMINISTRATION 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
$508,194 2,332,467
143,982 285,769 247,408 212,135 3,733,047 761,365 162,172 292,368
25,663 559,312 461,049 149,157 403,159 23,330,216 3,311,777 487,680 26,034,595 6,032,596 372,035 1,004,221
1,402,438
713,483 972,053 5,304,276 575,203 1,391,811 3,105,288 3,455,215
57,742 459,338 3,661,474 29,125,616
54,534 117,079 277,470 1,412,827 984,706 725,907 3,743,963 320,873 534,205 1,500,906
86,000 27,497,531
25,663 4,742,176 383,330 2,519,268 580,902 788,445 1,418,099 613,703 327,289 2,908,159 1,479,566 6,500,000 3,816,562
$1,175,824 2,711,047 416,578 1,897,163 554,041 632,413 4,662,973 1,431,973 1,210,621 822,300 446,853 1,256,000 1,069,988 750,367 1,183,088
28,260,636 3,963,335 1,210,683
27,875,917 7,168,649 937,880 1,973,707 372,326 1,746,283 1,222,099 2,156,420 1,905,278 1,042,081 2,608,174 4,344,209 4,299,383 534,077 1,541,787 1,643,621
28,657,699 1,074,686 543,019 1,021,718 2,461,802 1,186,378 1,353,945 4,566,231 915,801 1,203,698 2,643,260 612,276
28,823,218 325,548 3,900 59,840 176,082
5,489,050 928,888
3,855,853 2,474,328 1,446,202 1,909,939 2,135,526 1,081,892
691,148 3,365,671 7,610,116 4,324,386
$489,311 421,457 246,524 694,425 289,765 360,110 601,606 506,689 514,120 413,134 407,853 513,023 551,733 423,310 746,591
5,354,394 820,920 544,889
1,197,977 928,699 446,941 628,222 177,519 298,436 455,346 737,368 751,309 349,661 680,107 735,257 531,207 516,241 619,552 589,178 343,198 490,001 569,610 566,298 822,483 510,069 500,065 467,937 486,999 796,852 593,334
1,002,777 149,930 773 40,397 549,005 467,757
2,313,814 1,071,851
524,449 369,829 969,904 620,679 455,239 920,761 2,001,178 648,123
Expended FY15
Encumbered as of 6/30/15
$489,311 421,457 246,524 694,425 289,765 360,110 408,783 506,161 514,120 413,134 407,853 512,069 551,733 250,673 746,591 93,492 820,920 324,848 743,456 702,557 446,941 628,222 177,519 298,436 455,346 531,156 529,630 349,661 680,107 735,257 531,207 374,577 619,552 338,643 343,198 490,001 563,049 566,298 545,703 335,432 361,969 467,937 486,999 796,852 560,503 709,225 149,930 773 40,397 549,005 467,757
2,114,169 1,071,851
524,449 369,829 644,657 620,679 455,239 620,335 1,938,294 648,123
$0 -
64,316 -
17,469 -
72,680 -
31,527 -
77,500 -
966,094 -
42,395 257,496
77,500 -
95,243 -
7,614 61,803
119,346
96,305 104,647
61,544
5,978 -
499 23,312 24,371
11,998 16,155
9,588 88,311 82,511 20,055 22,888 1,680 677,491 86,905 39,077 33,426 68,312 60,837 128,227
Uncommitted
$686,513 2,289,590
170,054 1,138,422
264,276 272,303 4,043,898 925,284 623,821 409,166
39,000 711,450 518,255 249,557 436,497 21,940,148 3,142,415 665,794 26,635,545 5,982,454 413,439 1,345,485 194,807 1,352,604 766,753 1,411,438 1,092,166 692,420 1,808,721 3,512,647 3,663,529
17,836 860,691 1,048,465 28,657,699 731,488
52,519 428,796 1,871,133 363,895 831,878 4,050,011 447,864 716,699 1,846,408
9,354 27,732,130
93,107 3,900
39,012 112,797 4,940,045 459,451 864,548 1,315,572 921,753 1,501,033 1,132,196 461,213 235,909 2,376,598 5,548,101 3,548,036
114
COBB COUNTY SCHOOL DISTRICT SPLOST 4 - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2015
LOCATION/DESCRIPTION
KING SPRINGS ELEMENTARY
LABELLE ELEMENTARY
LASSITER HIGH
LEWIS ELEMENTARY
LINDLEY 6TH GRADE ACADEMY
LINDLEY MIDDLE
LOST MOUNTAIN MIDDLE
LOVINGGOOD MIDDLE
MABLETON ELEMENTARY
MABRY MIDDLE
MARTHA MOORE EDUCATION CENTER
MCCALL PRIMARY
MCCLESKEY MIDDLE
MCCLURE MIDDLE
MCEACHERN HIGH
MILFORD ELEMENTARY
MOUNTAIN VIEW ELEMENTARY
MOUNTAIN VIEW REPLACEMENT ELEMENT
MT BETHEL ELEMENTARY
MURDOCK ELEMENTARY
NICHOLSON ELEMENTARY
NICKAJACK ELEMENTARY
NORTH COBB HIGH
NORTON PARK ELEMENTARY
OAKWOOD SCHOOL
OSBORNE HIGH
OSBORNE REPLACEMENT 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
RUSSELL ELEMENTARY
SANDERS ELEMENTARY
SEDALIA PARK ELEMENTARY
SHALLOWFORD FALLS ELEMENTARY
SIMPSON MIDDLE
SMITHA MIDDLE
SMYRNA ELEMENTARY
SOPE CREEK ELEMENTARY
SOUTH COBB HIGH
SPRAYBERRY HIGH
STILL ELEMENTARY
SYSTEMWIDE
TAPP MIDDLE
TEASLEY ELEMENTARY
TEASLEY PRIMARY
TIMBER RIDGE ELEMENTARY
TRITT ELEMENTARY
VARNER ELEMENTARY
VAUGHAN ELEMENTARY
WALTON HIGH
WALTON REPLACEMENT HIGH
WHEELER HIGH
440 GLOVER STREET
514 GLOVER STREET
TOTAL PROJECT EXPENDITURES
$
Approved Budget 361,762 160,393 13,447,646 3,396,001 876,943 848,625 7,079,609 32,079 96,236 938,206 32,079 2,413,932 8,737,474 64,157 2,695,904 23,330,216 3,744,478 319,277 2,306,880 2,258,194 23,328,254 756,708 386,339 3,290,500 29,900,000 25,663 4,438,112 28,870 2,677,281 128,710 30,000,000 20,943,137 624,080 189,873 6,416 53,892 532,668 3,334,456 881,756 28,870 670,531 470,438 1,521,727 3,469,077 17,960,694 1,072,858 3,383,412 231,771,535 5,049,770 4,749,141 85,000 534,845 3,490,899 320,873 600,441 1,493,167 39,946,400 22,124,756 717,844,707 $
Revised
Expended Inception Expended
Encumbered
Budget
through 06/30/15
FY15
as of 6/30/15
Uncommitted
1,328,450
629,816
609,680
17,329
681,305
836,101
433,081
433,081
96,562
306,458
15,045,156
1,319,703
991,657
132,786
13,592,667
3,980,312
469,167
469,167
-
3,511,145
1,526,988
365,188
365,188
59,422
1,102,378
1,859,278
583,288
375,425
12,900
1,263,090
9,150,116
3,453,479
3,221,204
4,557,152
1,139,485
1,311,416
757,759
757,759
13,156
540,501
829,825
204,646
204,646
-
625,179
2,094,277
574,877
558,277
111,172
1,408,228
14,682
14,682
14,682
-
-
419,268
319,051
319,051
-
100,217
3,173,294
384,843
257,809
35,317
2,753,134
1,221,512
628,441
303,459
161,199
431,872
10,729,947
1,337,197
1,337,197
7,760,299
1,632,451
563,258
398,866
398,866
-
164,392
544,029
469,819
469,819
-
74,210
27,642,636
4,789,598
4,789,598
865,671
21,987,367
4,445,922
494,675
494,675
140,180
3,811,067
926,818
495,952
495,952
11,028
419,838
2,628,991
362,088
362,088
-
2,266,903
2,961,242
508,660
508,660
-
2,452,582
25,350,255
1,101,393
680,213
136,644
24,112,218
1,597,841
555,426
555,426
75,991
966,424
626,949
136,329
136,329
45,269
445,351
5,144,826
974,400
974,400
39,046
4,131,380
29,380,000
-
-
-
29,380,000
1,090,089
562,641
347,313
95,488
431,960
6,360,909
1,283,831
889,930
14,606
5,062,472
642,583
449,454
449,454
-
193,129
3,570,301
506,988
342,969
80,511
2,982,802
852,331
524,724
524,724
-
327,607
29,982,609
11,448,724
11,448,724
232,696
18,301,189
22,188,502
901,809
614,566
960,645
20,326,048
1,450,660
577,867
577,867
524,387
348,406
535,381
277,818
277,818
-
257,563
939,090
553,279
553,279
137,003
248,808
551,443
353,472
353,472
-
197,971
983,087
342,657
342,657
-
640,430
1,644,815
512,208
512,208
-
1,132,607
1,612,043
558,649
558,649
-
1,053,394
633,634
443,875
424,322
-
189,759
1,032,292
688,315
609,561
-
343,977
1,467,221
533,900
385,711
-
933,321
2,503,617
584,783
584,783
576,740
1,342,094
520,814
215,716
215,716
-
305,098
4,248,873
685,576
685,576
111,885
3,451,412
19,642,799
966,573
552,376
65,836
18,610,390
2,759,233
893,279
893,279
68,700
1,797,254
1,126,200
521,436
521,436
-
604,764
118,586,265
2,003,725
1,748,367
-
116,582,540
5,898,602
491,287
296,990
273,766
5,133,549
5,823,596
3,745,844
3,717,508
1,796,585
281,167
96,085
16,305
16,305
2,423
77,357
1,191,940
438,125
438,125
61,112
692,703
4,098,524
606,178
606,178
115,185
3,377,161
1,136,924
605,232
605,232
153,975
377,717
1,176,938
594,212
403,630
-
582,726
1,879,380
600,255
600,255
45,604
1,233,521
53,094,595
4,450,374
4,130,739
46,163,659
2,480,562
27,709,014
15,264,430
14,878,440
10,070,930
2,373,654
8,918,279
2,386,257
2,131,150
150,354
6,381,668
592,776
281,819
277,043
50,210
260,747
717,844,707 $
119,430,227 $ 105,237,549 $ 79,578,523 $ 518,835,957
115
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STATISTICAL SECTION (Unaudited) This part of the District's Comprehensive Annual Financial Report presents detailed information as a context for understanding what the information in the financial statements, note disclosures and required supplementary information says about the District's overall financial position.
Contents Financial Trends
These schedules contain trend information to help the reader understand how the District's financial performance has changed over time. Revenue Capacity These schedules contain information to help the reader 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.
116
COBB COUNTY SCHOOL DISTRICT NET POSITION BY COMPONENT LAST TEN FISCAL YEARS
(amounts expressed in thousands)
Net Position Components
Investment in Capital Assets
Restricted for: Debt Service Fund Capital Projects Fund School Nutrition Service Fund Miscellaneous Grants
Unrestricted (Deficit)
Total Net Position
June 30, 2006
$
873,831
Fiscal Year
June 30, 2007
June 30, 2008
$
877,694 $ 1,054,860
June 30, 2009 $ 1,060,388
6,777 -
170,994
11,785 -
319,370
1,826 -
227,758
1,523 -
244,178
$ 1,051,602 $ 1,208,849 $ 1,284,444 $ 1,306,089
Source: District Records
117
June 30, 2010 $ 1,054,911
June 30, 2011 $ 1,066,545
Fiscal Year
June 30, 2012
June 30, 2013
$ 1,230,853 $ 1,262,788
June 30, 2014 $ 1,256,656
June 30, 2015 $ 1,329,345
1,356 -
285,849
163,602 21,676
171,646
56,155 20,200
147,483
49,860 20,924
20 149,881
110,228 19,213
3 157,363
$ 1,342,116 $ 1,423,469 $ 1,454,691 $ 1,483,473 $ 1,543,463 $
92,760 19,295
43 (710,349)
731,094
118
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 School Nutrition Program 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, 2006
Fiscal Year
June 30, 2007
June 30, 2008
June 30, 2009
$
629,565 $
690,562 $
729,888 $
737,527
24,453
25,523
27,550
29,467
36,513
38,970
48,324
47,395
149,359
171,343
186,033
182,836
43,660
45,646
49,432
47,802
53,565
55,836
58,822
61,988
-
-
-
-
29,476
-
-
-
4,500
4,606
2,413
300
$
971,091 $ 1,032,486 $ 1,102,462 $ 1,107,315
$
1,361 $
1,205 $
1,481 $
1,276
13
6
11
11
40,710
44,245
44,199
43,557
840
893
1,110
2,254
29,651
-
-
-
437,251
481,508
501,582
468,115
20,306
34,884
866
2,739
$
530,132 $
562,741 $
549,249 $
517,952
$ (440,959) $ (469,745) $ (553,213) $ (589,363)
$
412,017 $
445,840 $
466,320 $
482,690
20,851
22,473
1,415
142
125,742
129,099
128,043
110,242
12,928
14,178
17,428
7,307
-
-
-
-
17,178
21,231
15,070
5,931
2
4
-
-
-
-
-
-
648
523
532
876
$
589,366 $
633,348 $
628,808 $
607,188
-
-
-
-
$
148,407 $
163,603 $
75,595 $
17,825
Source: District Records
119
June 30, 2010
June 30, 2011
Fiscal Year
June 30, 2012
June 30, 2013
June 30, 2014
June 30, 2015
$
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
$
677,187
26,938
45,115
161,460
49,563
63,398
419
30,780
-
$ 1,054,860
$
704,451
27,468
47,475
173,717
49,975
53,469
-
32,164
-
$ 1,088,719
$
1,184 $
1,241 $
1,068 $
1,101 $
913 $
1,121
10
13
11
10
13
10
41,142
27,312
27,921
29,104
28,035
27,963
1,332
909
983
1,842
2,004
1,830
-
28,721
29,402
28,608
30,970
31,193
491,465
518,300
478,937
504,819
512,800
545,592
199
541
30,832
7,524
8,085
5,867
$
535,332 $
577,037 $
569,154 $
573,008 $
582,820 $
613,576
$ (553,643) $ (473,336) $ (504,986) $ (495,476) $ (472,040) $ (475,143)
$
470,456 $
423,694 $
405,965 $
400,271 $
404,759 $
421,043
52
43
-
-
-
-
112,395
113,739
122,557
121,008
121,712
126,923
2,323
1,475
1,079
-
-
-
-
-
-
-
-
-
2,979
3,070
2,076
1,632
1,697
1,352
-
-
-
-
-
-
-
-
516
-
175
-
953
2,962
4,015
1,347
3,687
1,769
$
589,158 $
544,983 $
536,208 $
524,258 $
532,030 $
551,087
512
-
-
-
-
-
$
36,027 $
71,647 $
31,222 $
28,782 $
59,990 $
75,944
120
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, 2006
Fiscal Year
June 30, 2007
June 30, 2008
June 30, 2009
$
18,825 $
28,335 $
26,739 $
93,944
114,566
101,848
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
$
112,769 $
142,901 $
128,587 $
2,714 77,575
-
80,289
All Other Governmental Funds
Reserved
$
Unreserved, reported in:
Special Revenues Funds
Capital Projects Funds
Nonspendable
Restricted
Committed
Assigned
Unassigned
Total All Other Governmental Funds $
127,327 $
24,459 (88,793)
62,993 $
61,017 $
22,063 (18,507)
64,573 $
21,580 $
22,627 53,105
97,312 $
24,165
20,470 115,594
160,229
(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
121
June 30, 2010
June 30, 2011 (a)
Fiscal Year
June 30, 2012
June 30, 2013
June 30, 2014
June 30, 2015
$
5,823 $
79,783
-$ -
-$ -
-$
-$
-
-
-
-
-
324
353
674
676
844
-
-
-
-
-
-
-
-
-
-
5,000
10,000
-
46,256
34,396
59,272
47,596
31,050
-
99,863
98,637
75,349
89,510
90,588
$
85,606 $
146,443 $
133,386 $
135,295 $
142,782 $
132,482
$
67,008 $
-$
22,966
-
108,716
-
-
1,365
-
136,076
-
11,646
-
11,893
-
-
$
198,690 $
160,980 $
-$
1,706 76,355 11,883 4,737 94,681 $
-$
1,848 70,804 12,577 2,289 87,518 $
-$
-
1,464 129,444
14,790 1,557 -
147,255 $
-
-
1,844 110,264
14,990 1,468 (9)
128,557
122
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 School Nutrition Program Student Activities Interest and Fiscal Charges Capital Outlay Debt Service: Principal Retirement Interest and Fiscal Charges
Total Expenditures
2006
$ 555,012 470,136 58,905 17,178 2 334 2,908 1,000
1,105,475
Fiscal Year
2007
2008
$ 593,038 529,965 34,488 21,231 4 397 782
1,179,905
$ 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
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
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
Excess (Deficiency) of Revenues Over (Under) Expenditures
30,968
29,640
20,384
16,636
Other Financing Sources (Uses): Transfers-In Transfers-Out Proceeds from Sale of Capital Assets Proceeds from Capital Lease Agreements
Total Other Financing Sources (Uses)
34,827 (35,992)
181 -
(984)
25,953 (27,730)
340 9,865
8,428
6,345 (8,476)
172 -
(1,959)
3,576 (5,696)
103 -
(2,017)
Extraordinary Item: Proceeds from Insurance Recovery
-
-
-
-
Net Change in Fund Balances
$
29,984 $
38,068 $
18,425 $
14,619
Non-Capitalized Expenditures Capitalized Expenditures Total Expenditures
Debt Service as a Percentage of Non-Capitalized Expenditures
$ 962,671 111,836
$ 1,074,507
$ 1,028,751 121,514
$ 1,150,265
$ 1,055,849 84,546
$ 1,140,395
$ 1,050,220 38,718
$ 1,088,938
5.49%
5.42%
0.40%
0.73%
Source: District Records
123
2010
$ 574,944 493,883 31,684 2,979 3 897 1,060
1,105,450
2011
$ 540,938 520,316 54,410 3,070 466 3,320 2,753
1,125,273
Fiscal Year
2012
2013
$ 530,686 510,582 55,448 2,325 526 3,410 4,016
1,106,993
$ 518,604 512,258 56,088 1,717 1,383 3,194 1,347
1,094,591
2014
$ 527,683 520,737 57,170 1,846 1,545 3,219 3,687
1,115,887
2015
$ 548,738 552,431 57,750 1,578 1,353 3,013 1,769
1,166,632
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
625,644 23,572 43,083
157,034 45,961 60,286 419 30,780 61,466
1,048,245
675,310 25,373 46,245
172,304 45,583 63,466 458 32,164 -
134,408
1,195,311
40,491
14,651
(79,649)
(5,765)
67,642
(28,679)
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)
1,218 (2,013)
377 -
(418)
1,993 (2,438)
126 -
(319)
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) $
67,224
$ 1,010,754 175,888
$ 1,186,642
$ 997,944 102,412
$ 1,100,356
$ 989,861 58,384
$ 1,048,245
-
$ (28,998)
$ 1,051,784 143,527
$ 1,195,311
-
-
-
-
-
-
124
COBB COUNTY SCHOOL DISTRICT PROPERTY TAX LEVIES AND COLLECTIONS JUNE 30, 2015
Property Taxes Collected and Balances Receivable
2009
2010
2011
2012
2013
General Fund Collections
Balance Receivable
2014
amounts in thousands
$500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2015
Balances as of June 30, 2015 (amounts expressed in thousands)
General Fund: Total Taxes Levied Collected Current Year Percent of Taxes Collected
Subsequent Years Collected Total Collected All Years Balance Receivable Percent of Taxes Collected
2009
2010
2011
2012
2013
2014
2015
Total
$ 477,932 $ 468,234 $ 428,077 $ 403,777 $ 394,842 $ 385,590 $ 398,979 $ 2,957,431
470,480 460,995 422,494 399,261 391,485 383,051 397,014 2,924,780
98.44% 98.45% 98.70% 98.88% 99.15% 99.34% 99.51%
98.90%
$ 7,160 $ 6,846 $ 5,220 $ 4,196 $ 3,040 $ 2,027 $
- $ 28,489
477,640 467,841 427,714 403,457 394,525 385,078 397,014 2,953,269
$ 292 $ 393 $ 363 $ 320 $ 317 $ 512 $ 1,965 $ 4,162
99.94% 99.92% 99.92% 99.92% 99.92% 99.87% 99.51%
99.86%
Statute of limitations for collection of delinquent taxes is seven years as permitted by the State of Georgia; therefore, only seven years of data is available.
Source: Office of Tax Commissioner, Cobb County
125
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 Values
$25,000,000
$20,000,000
$15,000,000
$10,000,000
$5,000,000
$0 2006
2007
2008
2009
Motor Vehicles
2010
2011
Public Services
2012
2013
2014
Maint & Operations
2015
(amounts expressed in thousands) Net M&O
Net Bond
For Maintenance & Operations of Schools
For Debt Service of School Bonds
Fiscal Year 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Real Property $ 17,288,487
18,981,827 20,510,838 21,420,500 21,007,134 18,958,062 17,573,940 16,898,249 16,352,749 17,266,640
Personal Property $ 1,319,018
1,344,532 1,343,632 1,451,112 1,424,923 1,352,078 1,357,140 1,374,209 1,439,170 1,607,722
Real Property $ 18,630,090
20,349,394 -
Personal Property $ 1,319,018
1,344,532 -
Public
Total Assessed
Services Motor Vehicle
Value
$ 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
893,003 1,716,625
20,401,573
870,412 1,365,200
21,109,974
Direct Estimated Rate Actual Value 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 1.890% 51,003,931 1.890% 52,774,935
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; however, 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. Source: Office of Tax Commissioner, Cobb County
126
COBB COUNTY SCHOOL DISTRICT DIRECT AND OVERLAPPING PROPERTY TAX RATES LAST TEN FISCAL YEARS
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 2006
2007
2008
2009
2010
School District
2011
2012
County Government
2013
2014
2015
(all tax rates are per $1000 assessed valuation)
Fiscal Year
2006 2007
School District Maint & Operations Debt Service
19.00 0.90
19.00 0.90
Total Direct Rate
19.90 19.90
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
2014
18.90 -
18.90
2015
18.90 -
18.90
County Government General Fire District Debt Service Total County Rate
State of Georgia
Total Overlapping Rate
6.82
6.82
6.82
6.82
6.82
6.82
7.72
7.72
7.52
7.32
2.56
2.56
2.56
2.56
2.56
2.56
3.06
3.06
3.06
3.06
0.22
0.22
0.22
0.22
0.22
0.22
0.33
0.33
0.33
0.33
9.60
9.60
9.60
9.60
9.60
9.60 11.11 11.11 10.91 10.71
0.25
0.25
0.25
0.25
0.25
0.25
0.25
0.20
0.15
0.10
9.85
9.85
9.85
9.85
9.85
9.85 11.36 11.31 11.06 10.81
Additional Overlapping Rates
City of Acworth
7.87
7.68
7.60
7.60
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
4.00
4.00
3.06
City of Kennesaw
8.25
8.25
9.50
9.50
9.50
9.50
9.50
9.50
9.50
9.50
City of Powder Spgs
8.50
8.50
8.50
8.50
8.50
8.50
8.50
8.50
8.50
8.50
City of Smyrna
9.57
9.17
8.99
8.99
8.99
8.99
8.99
8.99
8.99
8.99
Source: Cobb County Government, Georgia Department of Revenue
127
COBB COUNTY SCHOOL DISTRICT PRINCIPAL PROPERTY TAXPAYERS DECEMBER 31, 2014 AND NINE YEARS AGO
Principal Property Taxpayers - 2014
7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00%
Walton Communities Inland Properties CP Venture Five, LLC Atlanta Gas Light Ohio Teacher Retirement Fund Cobb EMC AT&T/Bellsouth Lockheed Martin Corporation Home Depot Georgia Power
Taxpayer Georgia Power Home Depot Lockheed Martin Corporation AT&T/Bellsouth Cobb EMC Ohio Teacher Retirement Fund Atlanta Gas Light CP Venture Five, LLC Inland Properties Walton Communities Post Properties Wildwood Associates AMLI Land Development 3200 Windy Hill Rd Investments
TOTAL
Type of Business Utilities Retail Aircraft Telecommunications Utilities Investment Utilities Real Estate Real Estate Real Estate Real Estate Real Estate Real Estate Real Estate
December 31, 2014
Percent
of Total
Taxes
Taxes
Rank Levied
Levied
1 $ 9,357,027
2.345%
2
4,608,893
1.155%
3
2,777,721
0.696%
4
2,174,643
0.545%
5
1,999,997
0.501%
6
1,974,806
0.495%
7
1,427,035
0.358%
8
1,072,372
0.269%
9
1,040,810
0.261%
10
950,911
0.238%
December 31, 2005
Percent
of Total
Taxes
Taxes
Rank Levied
Levied
5 $ 1,884,000
0.478%
1
3,658,000
0.928%
6
1,704,000
0.432%
3
2,267,000
0.575%
7
1,690,000
0.429%
8
1,424,000
0.361%
2
2,317,000
0.588%
4
2,022,000
0.513%
9
1,235,000
0.313%
10
1,152,000
0.292%
$ 27,384,214
6.863%
$ 19,353,000
4.909%
Note: School millage rate is 64% of total county rate. Total taxes levied are multiplied by 64% to arrive at amount of school taxes.
Information is available only by calendar year; therefore, data reported is for December 31, 2014 and nine years earlier, December 31, 2005.
Source: Office of Tax Commissioner, Cobb County, GA
128
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
2006 $ 2,209,521
42,103
2007 $ 2,393,278
-
Fiscal Year 2008
$ 2,418,538
-
2009 $ 2,528,743
-
2010 $ 2,477,428
-
$ 2,167,418 $ 2,393,278 $ 2,418,538 $ 2,528,743 $ 2,477,428
1.91%
-
-
-
-
Debt Limit Total debt applicable to limit
Legal Debt Margin
Total debt applicable as a percentage of debt limit
2011 $ 2,264,959
2012 $ 2,136,385
Fiscal Year 2013
$ 2,089,113
2014 $ 2,040,157
2015 $ 2,110,997
-
-
-
-
-
$ 2,264,959 $ 2,136,385 $ 2,089,113 $ 2,040,157 $ 2,110,997
-
-
-
-
-
Source: District Records
129
COBB COUNTY SCHOOL DISTRICT LEGAL DEBT MARGIN INFORMATION FISCAL YEAR 2015
Legal Debt Information - Fiscal Year 2015
$0
$2,110,997
Total Amount of Debt Applicable to Debt Limit Legal Debt Margin
(amounts expressed in thousands)
Net Assessed Valuation, Cobb County School District,
January 1, 2014
$
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
$
Sources: Cobb County Office of Tax Commissioner, District Records
130
21,109,974
2,110,997 -
2,110,997
COBB COUNTY SCHOOL DISTRICT RATIOS OF OUTSTANDING DEBT BY TYPE LAST TEN FISCAL YEARS
Debt Per Capita
$100
$50
$- 2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
(amounts expressed in thousands, except per capita)
Total
General
Primary
Fiscal Obligation
Capital
Government
Year
Bonds
Leases
Debt
2006 $ 2007
44,780 $ -
4,239 $ 9,186
49,019 $ 9,186
2008 2009 2010 2011 2012 2013 2014
-
7,376
7,376
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2015
-
-
-
Annual Personal Income
27,731,499 29,673,178 31,428,153 31,709,070 30,016,575 30,246,898 31,981,653 33,662,185 34,419,921 36,192,750
Population
596,736 606,706 615,377 617,750 618,206 633,084 642,143 649,141 658,101 670,967
Debt as a Percentage of Personal
Income
0.18% 0.03% 0.02%
- - - - - - -
Total Debt Per Capita
$
82
15
12 - - - - - -
-
Cobb County School District information based on fiscal years beginning July 1 and ending June 30. Demographic and economic data provided by calendar year. Population of 670,967 provided by the US Census Bureau (July 1, 2014 estimate); excludes the City of Marietta. Sources: District Records, Annual Personal Income: US Department of Commerce Bureau of Economic Analysis
131
COBB COUNTY SCHOOL DISTRICT RATIO OF NET GENERAL BONDED DEBT TO ESTIMATED ACTUAL VALUE AND NET BONDED DEBT PER CAPITA LAST TEN FISCAL YEARS
Ratio of Net Bonded Debt to Estimated Actual Value
0.09%
0.08%
0.07%
0.06%
0.05%
0.04%
0.03%
0.02%
0.01%
0.00% 2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Fiscal Year
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Population
596,736 $ 606,706 615,377 617,750 618,206 633,084 642,143 649,141 658,101 670,967
Estimated Actual Value
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 51,003,931,000 52,774,935,000
Gross Bonded Debt
Restricted for Bonded
Debt
44,780,000 $
2,538,000 $
-
2,599,000
-
1,826,000
-
1,523,000
-
1,356,000
-
-
-
-
-
-
-
-
-
-
All general obligation bonds were retired in fiscal year 2007. Population provided by US Census Bureau (2014 estimate); excludes the City of Marietta.
Net Bonded
Debt
Ratio of Net Net Bonded Debt Bonded
to Est. Debt Per Actual Value Capita
42,242,000
0.08% $ 71
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
132
COBB COUNTY SCHOOL DISTRICT COMPUTATION OF DIRECT AND OVERLAPPING GENERAL OBLIGATION DEBT JUNE 30, 2015
Direct and Overlapping Debt Per Capita
$0
$26
Direct: Cobb County Schools
Indirect: Cobb County Government
Direct General Obligation Debt: Gross Bonded Debt
Overlapping General Obligation Debt: Cobb County Government (93% of $18,440,000)
Total Direct and Overlapping General Obligation Debt
Debt Per Capita:* Direct General Obligation Debt Overlapping General Obligation Debt Total
$
-
$
-
$ 17,149,200 $
$
17,149,200 17,149,200
$
-
26
$
26
*Population of 670,967 from US Census Bureau (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.
133
COBB COUNTY SCHOOL DISTRICT COBB COUNTY DEMOGRAPHIC AND ECONOMIC STATISTICS LAST TEN CALENDAR YEARS
740,000
Cobb County Population Growth
720,000
700,000
680,000
660,000
640,000
620,000
600,000 2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Fiscal Year
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Personal Income Population (In Thousands)
646,754 $ 27,731,499
661,913
29,673,178
670,438
31,428,153
679,822
31,709,070
684,776
30,016,575
689,655
30,246,898
697,277
31,981,653
707,277
33,662,185
717,190
34,419,921
730,981
36,192,750
Per Capita Personal Income
$ 42,878 44,829 46,877 46,643 43,834 43,858 45,866 47,594 47,993 49,513
Median Household
Income
$ 62,423 61,682 64,817 70,472 63,514 59,896 57,995 65,423 66,300 68,656
Median Age
34.9 35.6 35.9 36.2 34.8 35.4 35.6 35.4 36.1 36.2
Student Enrollment
105,482 106,572 106,056 105,742 106,488 106,836 106,502 107,914 109,529 111,060
Unemployment Rate
4.8% 4.1% 3.8% 5.6% 8.8% 9.7% 8.9% 8.0% 7.1% 6.0%
Sources: Population (includes city of Marietta), Personal Income, and Per Capita Personal Income from US Bureau
of Economic Analysis. Median Household Income and Unemployment Rate from Georgia Department of Labor (HUD and US
Census Bureau estimates). Median Age from US Census Bureau.
134
COBB COUNTY SCHOOL DISTRICT PRINCIPAL EMPLOYERS CURRENT YEAR AND NINE YEARS AGO
Principal Employers - 2014
80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000
-
Marietta City Schools Kroger Company Six Flags Over Georgia Publix Super Markets Cobb County Government Kennesaw State University Lockheed Martin Corporation Wellstar Health System Cobb County School District Home Depot
Employer Home Depot Cobb County School District Wellstar Health System Lockheed Martin Corporation Kennesaw State University Cobb County Government Publix Super Markets Six Flags Over Georgia Kroger Company Marietta City Schools Dobbins Air Force Base Genuine Parts
Total
Rank 1 2 3 4 5 6 7 8 9 10
2014
Employees 20,000 13,794 13,498 6,000 5,146 5,068 3,574 2,464 2,226 1,115
72,885
Percentage of Total County
Employment 5.08% 3.50% 3.43% 1.52% 1.31% 1.29% 0.91% 0.63% 0.57% 0.28%
18.52%
Rank 2 1 3 4 6 5 7 8
9 10
2005
Employees 8,421
13,784 8,409 7,800 3,254 5,413 3,151 2,765
Percentage of Total County
Employment 2.38% 3.89% 2.37% 2.20% 0.92% 1.53% 0.89% 0.78%
2,359 2,000
57,356
0.67% 0.56%
16.19%
Information is available by calendar year; therefore, data reported is for years ended December 31, 2014, and nine years earlier, December 31, 2005. Principal Employers within the county provided by 2014 and 2005 Cobb County Government CAFRs. School District employee totals include each employee in his/her primary job position only.
Sources: District Records, Cobb County Government, US Bureau of Labor Statistics
135
COBB COUNTY SCHOOL DISTRICT COMPARISON OF METROPOLITAN ATLANTA SCHOOL DISTRICT PROPERTY TAX RATES JUNE 30, 2015
METRO ATLANTA SCHOOL DISTRICT TAX RATES
30.000
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
School Millage Rates
(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 19.804 18.900 23.980 21.350 18.502 21.850 17.970 25.390
Source: Georgia Department of Revenue
Maintenance & Operations
21.640 19.804 18.900 23.980 19.850 18.502 19.800 17.970 25.390
136
Debt Service 0.100 0.000 0.000 0.000 1.500 0.000 2.050 0.000 0.000
COBB COUNTY SCHOOL DISTRICT COBB COUNTY BANK DEPOSITS, CONSTRUCTION AND TAXABLE PROPERTY VALUES LAST TEN YEARS
dollars in millions
$1,400
Cobb County New Construction
$1,200
$1,000
$800
$600
$400
$200
$0 2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
(dollars expressed in millions)
Year Ended
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Bank Deposits (a)
$
8,478
9,369
10,026
10,739
10,542
9,468
9,490
10,269
10,933
11,936
Single-Family
Residences (b)
Number
Market
of Units
Value
2,655 $ 636
2,082
521
1,276
332
510
118
434
99
491
114
597
161
734
204
1,077
316
938
277
Total New
Construction (b)
Number
Market
of Permits
Value
10,286 $ 1,262
10,232
1,029
9,687
838
7,019
572
5,102
349
5,594
410
5,587
656
5,667
581
6,320
711
7,352
596
Estimated Actual Value of Taxable Property (c)
$
51,525
55,238
59,832
60,463
63,219
56,624
53,410
52,227
51,004
52,775
(a) Bank deposits as of June 30, 2005 through 2008, supplied by the Georgia Department of Banking and Finance. Bank deposits June 30, 2009 and after, are supplied by the Federal Deposit Insurance Corporation (FDIC).
(b) New residence and construction data for the 12-month period ended December 31 is supplied by the Cobb County Community Development Agency and is on a calendar-year basis.
(c) Source is Cobb County Tax Commissioner.
137
COBB COUNTY SCHOOL DISTRICT PROPERTY DIGEST REDUCTIONS DUE TO EXEMPTIONS LAST TEN FISCAL YEARS
amounts in thousands
$30,000,000
$25,000,000
$20,000,000
$15,000,000
$10,000,000
$5,000,000
Digest Reductions Compared to Gross Property Digest
Gross Property Digest
Personal Property Exemption
Elderly Exemption
Homestead Exemption
$0 2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
(amounts expressed in thousands)
Reductions
Disabled
Personal
Total
Gross
as Percent
Fiscal Homestead
Elderly
Residents
Property Conservation
Digest
Property
of Gross
Year Exemption
Exemption Exemption Exemption Exemption Reductions
Digest
Digest
2006 $ 1,176,070 $ 2,355,408 $ 15,610 $ 1,078,322 $ 83,016 $ 4,708,426 $ 22,095,208
21.31%
2007
1,170,390
2,612,133
14,708 1,182,458
85,575
5,065,264
23,932,775
21.16%
2008
1,166,776
2,921,905
14,666 1,264,100
83,478
5,450,925
24,185,375
22.54%
2009
1,165,038
3,115,732
15,099 1,086,274
80,282
5,462,425
25,287,425
21.60%
2010
1,160,256
3,374,955
15,389 1,159,876
82,041
5,792,517
24,774,275
23.38%
2011
1,133,942
3,308,523
15,208 1,501,213
66,204
6,025,090
22,649,587
26.60%
2012
1,086,141
3,305,864
14,608 1,274,139
53,464
5,734,216
21,363,851
26.84%
2013
1,041,831
3,299,172
15,660 1,175,141
52,676
5,584,480
20,891,129
26.73%
2014
999,067
3,420,226
16,281 1,196,382
53,574
5,685,530
20,401,572
27.87%
2015
965,937
3,755,620
18,132 1,068,067
53,146
5,860,902
21,109,974
27.76%
Source: Cobb County Office of Tax Commissioner
138
COBB COUNTY SCHOOL DISTRICT NUMBER OF PERSONNEL AND RATIO OF PUPILS TO PROFESSIONAL PERSONNEL LAST TEN FISCAL YEARS
Ratio of Pupils to Professional Personnel
25
20
15
10
5
0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Fiscal Year
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Professional Personnel (a)
8,508 9,313 9,101 9,213 9,272 8,378 8,290 8,008 7,907 8,036
Other Operating Personnel (b)
2,961 3,138 3,379 3,391 3,046 2,841 2,970 2,896 2,821 2,769
Service Personnel (c)
2,335 2,478 2,972 3,049 2,994 2,857 2,847 2,813 2,834 2,949
Total Personnel
13,804 14,929 15,452 15,653 15,312 14,076 14,107 13,717 13,562 13,754
Active Student Enrollment
105,482 106,572 106,056 105,742 106,488 106,836 106,502 107,914 109,529 111,060
Ratio of Pupils to Professional Personnel
12.4 to 1 11.4 11.7 11.5 11.5 12.8 12.8 13.5 13.9 13.8
(a) Professional personnel consists of all certified personnel including teachers, librarians, counselors, supervisors, consultants, coordinators, principals, assistant principals and other leadership personnel.
(b) Other operating personnel includes non-certified leadership personnel, classroom aides, secretarial and clerical employees, and other technicians.
(c) Service personnel includes food service personnel, custodial employees, bus drivers and maintenance/warehouse employees.
139
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 2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Fiscal Year
Expenses
Active
Student Enrollment
Cost
Per Pupil Enrolled
Percentage
of Change
Professional Personnel
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
$ 971,091,000 1,032,486,000 1,102,462,000 1,107,315,000 1,088,975,000 1,050,373,000 1,074,140,000 1,068,484,000 1,054,860,000 1,088,719,000
105,482 106,572 106,056 105,742 106,488 106,836 106,502 107,914 109,529 111,060
$ 9,206 9,688
10,395 10,472 10,226
9,832 10,086
9,901 9,631 9,803
- 5.23% 7.30% 0.74% -2.35% -3.86% 2.58% -1.83% -2.73% 1.79%
8,508 9,313 9,101 9,213 9,272 8,378 8,290 8,008 7,907 8,036
Ratio of Pupils to Professional Personnel
12.4 to 1 11.4 11.7 11.5 11.5 12.8 12.8 13.5 13.9 13.8
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
140
COBB COUNTY SCHOOL DISTRICT GENERAL FUND EXPENDITURES BY FUNCTION LAST TEN FISCAL YEARS
amounts in thousands $1,000,000
Expenditures by School Function
$900,000
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0 2006 2007 2008 2009 2010 2011 2012
Other
Capital Outlay
Business Serv.
School & Admin.
2013 2014 Pupil Services
2015 Instruction
(amounts expressed in thousands)
Fiscal
Pupil
Year Instruction Services
School & Administrative
Services
Business Services
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
$ 568,611 $ 15,414 $ 650,506 16,894 711,160 18,716 703,297 19,566 671,102 18,513 635,497 16,755 641,662 17,330 632,579 17,502 628,652 19,489 679,320 19,248
74,866 80,690 83,620 85,445 74,888 72,761 78,172 77,821 78,407 84,588
$ 86,146 92,320
100,139 101,253
97,049 93,103 93,237 100,191 103,311 106,063
Capital Outlay Other
$ 5,581 $ 4,063
9,232 15,970
5,536 2,085
14,977 7,676
1,484
-
3,522
-
9,214
-
6,659 4,346
- 1,489
3,769
458
Total
$ 754,681 855,178 931,690 932,214 863,036 821,638 839,615 834,752 835,694 893,446
Instruction includes expenditures for Instruction and Instructional Services. Business Services includes expenditures for Student Transportation and Maintenance & Operations. Other includes expenditures for School Nutrition Program and Student Activities.
Source: District Records
141
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 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(amounts expressed in thousands)
Fiscal Year 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Local Taxes $ 408,599
441,716 460,537 475,294 462,518 427,174 408,123 397,592 405,970 421,814
Intergovernmental
$
381,436
422,286
449,098
404,313
404,856
431,352
391,997
415,168
431,907
459,181
Interest Income
$
9,714
12,150
9,843
4,497
2,475
2,410
1,981
1,562
1,637
1,294
Other $ 900
799 1,082 2,276 1,830 1,091 1,092 2,406 4,991 2,935
Total $ 800,649
876,951 920,560 886,380 871,679 862,027 803,193 816,728 844,505 885,224
Other includes Tuition & Fees, Insurance & Damage Recoveries, Rentals and Other Revenues. Source: District Records
142
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%
Fiscal Year
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Debt Service Fund Expenditures
$
46,158,000
46,571,000 -
-
- -
-
- -
-
General Fund Expenditures
$
754,681,000
855,178,000
931,690,000
932,214,000
863,036,000
821,638,000
839,615,000
834,752,000
835,694,000
893,446,000
Note: Debt Service was fully paid by the end of fiscal year 2007.
Source: District Records
143
Ratio of Debt Service Fund to General Fund
Expenditures
6.12% 5.45% 0.00% 0.00% 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.
144
COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS
School Name
2006
Acworth Intermediate (2001) Square Feet Capacity Enrollment
Addison (1989) Square Feet Capacity Enrollment
Argyle (1961) Square Feet Capacity Enrollment
Austell (2005) Square Feet Capacity Enrollment
Baker (1988) Square Feet Capacity Enrollment
Bells Ferry (1963) Square Feet Capacity Enrollment
Belmont Hills (1952) Square Feet Capacity Enrollment
Big Shanty (1968) Square Feet Capacity Enrollment
Birney (1973) Square Feet Capacity Enrollment
Blackwell (1998) Square Feet Capacity Enrollment
Brown (1955) Square Feet Capacity Enrollment
Brumby (1966) Square Feet Capacity Enrollment
Bryant (1991) Square Feet Capacity Enrollment
Bullard (2003) Square Feet Capacity Enrollment
Chalker (1997) Square Feet Capacity Enrollment
Cheatham Hill (1997) Square Feet Capacity Enrollment
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
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
2009
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
2010
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
2011
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
2014
2015
131,924 913 776
81,334 662 587
56,904 537 480
85,236 562 532
106,694 987 756
83,098 712 593
68,409 562 307
84,461 837 771
105,886 912 775
111,299 837 730
49,828 412 -
99,181 912
1,051
116,071 962 953
136,261 987 894
124,148 963 675
137,108 1,063 1,112
131,924 913 732
81,334 662 615
56,904 537 454
85,236 562 553
106,694 987 782
83,098 712 738
68,409 562 360
84,461 837 753
105,886 912 732
111,299 837 723
49,828 412 -
99,181 912
1,024
116,071 962 980
136,261 987 910
124,148 963 707
137,108 1,063 1,094
145
COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS
School Name
2006
Clarkdale (1963) (a)
Square Feet
44,412
Capacity
362
Enrollment
480
Clarkdale Replacement (2012)
Square Feet
-
Capacity
-
Enrollment
-
Clay (1961)
Square Feet
51,930
Capacity
437
Enrollment
515
Compton (1969)
Square Feet
100,586
Capacity
912
Enrollment
690
Davis (1987)
Square Feet
87,763
Capacity
787
Enrollment
608
Dowell (1989)
Square Feet
106,003
Capacity
962
Enrollment
1,003
Due West (1957)
Square Feet
47,350
Capacity
437
Enrollment
478
East Side (1952)
Square Feet
77,918
Capacity
787
Enrollment
870
East Side Replacement (2011)
Square Feet
-
Capacity
-
Enrollment
-
Eastvalley (1960)
Square Feet
58,150
Capacity
562
Enrollment
614
Fair Oaks (1957)
Square Feet
84,153
Capacity
812
Enrollment
747
Ford (1991)
Square Feet
91,129
Capacity
837
Enrollment
1,021
Frey (1996)
Square Feet
124,148
Capacity
962
Enrollment
938
Garrison Mill (1984)
Square Feet
85,775
Capacity
687
Enrollment
618
Green Acres (1996)
Square Feet
90,915
Capacity
687
Enrollment
695
Harmony Leland (1951)
Square Feet
85,764
Capacity
512
Enrollment
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
44,412 362 464
-
51,930 437 528
100,586 912 541
87,763 787 581
106,003 962
1,087
71,112 612 459
77,918 787 961
-
58,150 562 550
98,789 862 825
91,129 837
1,027
124,148 962 830
85,775 687 705
90,915 687 653
85,764 512 475
2009
44,412 362 440
-
51,930 437 536
100,586 912 516
87,763 787 558
106,003 962
1,061
71,112 612 497
77,918 787 990
-
58,150 562 556
98,789 862 806
91,129 837 884
124,148 962 621
85,775 687 699
90,915 687 658
85,764 512 517
2010
407
-
51,930 437 535
100,586 912 485
87,763 787 557
106,003 962 996
71,112 612 538
77,918 787
1,031
-
58,150 562 619
98,789 862 839
91,129 837 863
124,148 962 670
85,775 687 724
90,915 687 712
85,764 512 544
2011
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
391
-
55,412 437 510
99,427 937 453
86,131 788 543
106,003 963 980
70,367 587 553
-
149,764 1,087 1,119
60,029 562 638
97,993 863 837
91,129 862 753
125,717 963 693
85,775 688 723
90,915 688 785
65,127 512 591
2013
-
129,988 862 587
55,412 437 351
99,427 937 556
86,131 788 559
106,003 963 968
70,367 587 547
-
149,764 1,087 1,221
60,029 562 661
97,993 863 831
91,129 862 713
125,717 963 737
85,775 688 716
90,915 688 866
65,127 512 678
2014
2015
-
-
-
-
-
-
129,988 862 631
129,988 862 724
55,412 437 381
55,412 437 396
99,427 937 559
99,427 937 590
86,131 788 584
86,131 788 578
106,003 963 922
106,003 963 942
70,367 587 594
70,367 587 626
-
-
-
-
-
-
149,764 1,087 1,304
149,764 1,087 1,268
60,029 562 692
60,029 562 691
97,993 863 898
97,993 863 960
91,129 862 681
91,129 862 717
125,717 963 742
125,717 963 746
85,775 688 675
85,775 688 690
90,915 688 767
90,915 688 732
65,127 512 699
65,127 512 721
Continued---
146
COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS
School Name
2006
Hayes (1993)
Square Feet
117,579
Capacity
962
Enrollment
1,139
Hendricks (2001)
Square Feet
123,000
Capacity
962
Enrollment
599
Hollydale (1968)
Square Feet
89,995
Capacity
812
Enrollment
875
Keheley (1986)
Square Feet
68,030
Capacity
587
Enrollment
542
Kemp (2002)
Square Feet
123,000
Capacity
962
Enrollment
904
Kennesaw (1991)
Square Feet
113,828
Capacity
962
Enrollment
960
Kincaid (1972)
Square Feet
81,752
Capacity
762
Enrollment
615
King Springs (1956)
Square Feet
58,785
Capacity
562
Enrollment
606
LaBelle (1955)
Square Feet
58,505
Capacity
537
Enrollment
481
Lewis (1986)
Square Feet
115,363
Capacity
962
Enrollment
1,101
Mableton (1950)
Square Feet
47,426
Capacity
412
Enrollment
461
Mableton Replacement (2012)
Square Feet
-
Capacity
-
Enrollment
-
McCall Primary (2005)
Square Feet
88,217
Capacity
512
Enrollment
409
Milford (1954)
Square Feet
64,168
Capacity
612
Enrollment
576
Mount Bethel (1978)
Square Feet
105,016
Capacity
912
Enrollment
933
Mountain View (1986)
Square Feet
102,725
Capacity
862
Enrollment
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
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
2009
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
2010
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
2011
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
2014
119,189 962 961
123,025 962 531
89,012 862 693
70,537 588 484
123,000 962
1,031
116,400 962 712
83,969 762 740
59,658 587 832
82,912 688 576
115,363 962 763
-
148,523 962 950
88,158 562 407
73,352 612 466
110,096 937
1,011
102,725 887 837
2015
119,189 962 934
123,025 962 529
89,012 862 687
70,537 588 538
123,000 962
1,035
116,400 962 667
83,969 762 726
59,658 587 859
82,912 688 539
115,363 962 703
-
148,523 962 953
88,158 562 396
73,352 612 458
110,096 937
1,040
102,725 887 853
147
COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS
School Name
2006
Murdock (1975)
Square Feet
85,442
Capacity
687
Enrollment
845
Nicholson (1990)
Square Feet
75,800
Capacity
637
Enrollment
563
Nickajack (1998)
Square Feet
114,350
Capacity
837
Enrollment
828
Norton Park (1961)
Square Feet
66,603
Capacity
612
Enrollment
806
Pickett's Mill (2008)
Square Feet
-
Capacity
-
Enrollment
-
Pitner (2003)
Square Feet
135,800
Capacity
962
Enrollment
1,083
Powder Springs (1988)
Square Feet
101,870
Capacity
887
Enrollment
922
Powers Ferry (1951)
Square Feet
56,104
Capacity
462
Enrollment
452
Riverside Primary (2005)
Square Feet
85,236
Capacity
512
Enrollment
434
Riverside Intermediate (2001)
Square Feet
123,000
Capacity
962
Enrollment
791
Rocky Mount (1977)
Square Feet
78,720
Capacity
587
Enrollment
608
Russell (1961)
Square Feet
63,212
Capacity
612
Enrollment
674
Sanders (1997)
Square Feet
116,302
Capacity
862
Enrollment
867
Sedalia Park (1956)
Square Feet
84,051
Capacity
787
Enrollment
791
Shallowford Falls (1990)
Square Feet
73,600
Capacity
612
Enrollment
641
Sky View (1957) (b)
Square Feet
50,270
Capacity
462
Enrollment
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
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
2009
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
2010
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
2011
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
123,233 962 825
75,800 637 513
122,342 937 960
87,935 837 708
139,090 963 707
136,261 962 942
101,870 888 802
59,190 462 468
85,236 562 561
123,000 962 925
71,408 612 613
103,369 962 693
116,302 862 903
99,735 888 816
112,620 962 674
50,270 462 400
2013
123,233 962 830
75,800 637 511
122,342 937
1,055
87,935 837 788
139,090 963 723
136,261 962 937
101,870 888 783
59,190 462 467
85,236 562 681
123,000 962
1,107
71,408 612 614
103,369 962 728
116,302 862 829
99,735 888 828
112,620 962 658
-
2014
2015
123,233 962 859
123,233 962 896
75,800 637 500
75,800 637 516
122,342 937
1,130
122,342 937
1,115
87,935 837 808
87,935 837 916
139,090 963 736
139,090 963 750
136,261 962 909
136,261 962 888
101,870 888 807
101,870 888 824
59,190 462 448
59,190 462 436
85,236 562 710
85,236 562 671
123,000 962
1,101
123,000 962
1,182
71,408 612 602
72,896 612 622
104,362 962 704
104,362 962 697
116,302 862 809
116,302 862 827
99,735 888 815
99,735 888 845
112,620 962 654
112,620 962 669
-
-
-
-
-
-
Continued---
148
COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS
School Name
Smyrna (2013) Square Feet Capacity Enrollment
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
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
-
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
-
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
-
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
-
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
-
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
-
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
-
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
-
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
143,107 962 863
133,344 1,162 1,181
116,074 963 814
55,944 487 720
73,450 612 610
109,769 937 918
109,827 962 703
122,260 937 659
156,660 1,037 850
178,465 1,162 979
220,228 1,338 1,286
170,905 1,162 936
177,356 1,163 978
166,048 1,187 1,237
183,798 1,212 1,157
173,487 1,162 1,025
143,107 962 954
133,344 1,162 1,150
117,539 963 789
52,764 487 777
73,450 612 612
109,769 937 900
109,827 962 674
122,260 937 690
156,660 1,037 823
178,465 1,162 938
220,228 1,338 1,409
170,905 1,162 939
177,356 1,163 962
166,048 1,187 1,254
183,798 1,212 1,227
173,487 1,162 1,058
149
COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS
School Name
2006
East Cobb (1963)
Square Feet
165,237
Capacity
1,162
Enrollment
1,257
Floyd (1964)
Square Feet
166,551
Capacity
1,162
Enrollment
998
Garrett (1972)
Square Feet
122,329
Capacity
812
Enrollment
923
Griffin (1972)
Square Feet
186,947
Capacity
1,162
Enrollment
1,095
Hightower Trail (1993)
Square Feet
141,264
Capacity
987
Enrollment
966
Lindley 6th Grade Academy (1962)
Square Feet
114,635
Capacity
787
Enrollment (b)
230
Lindley (2001)
Square Feet
179,170
Capacity
1,162
Enrollment
1,354
Lost Mountain (1992)
Square Feet
137,027
Capacity
987
Enrollment
1,576
Lovinggood (2006)
Square Feet
-
Capacity
-
Enrollment
-
Mabry (1978)
Square Feet
158,434
Capacity
1,137
Enrollment
848
McCleskey (1983)
Square Feet
113,525
Capacity
837
Enrollment
822
McClure (2006)
Square Feet
-
Capacity
-
Enrollment
-
Palmer (2001)
Square Feet
175,345
Capacity
1,162
Enrollment
1,173
Pine Mountain (1979)
Square Feet
119,076
Capacity
792
Enrollment
1,261
Simpson (1988)
Square Feet
110,000
Capacity
837
Enrollment
844
Smitha (1993)
Square Feet
141,596
Capacity
987
Enrollment
1,306
2007
181,573 1,212 1,148
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
2008
181,573 1,212 1,130
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
2009
181,573 1,212 1,183
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
2010
181,573 1,212 1,241
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
2011
181,573 1,212 1,294
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
2012
186,961 1,362 1,281
166,551 1,112 870
122,329 812 853
186,947 1,162 1,064
149,038 1,012 956
111,260 788 523
179,170 1,162 1,041
165,107 1,137 1,016
175,345 1,162 1,214
160,581 1,162 849
113,525 937 668
191,209 1,163 1,138
175,974 1,162 999
131,399 887 725
110,000 837 862
169,345 1,137 968
2013
186,961 1,362 1,273
166,551 1,112 865
152,212 963 854
186,947 1,162 1,154
149,038 1,012 992
111,260 788 542
179,170 1,162 1,072
165,107 1,137 939
175,345 1,162 1,339
160,581 1,162 847
149,577 937 678
191,209 1,163 1,092
175,974 1,162 963
169,809 912 706
138,902 962 876
169,345 1,137 995
2014
2015
186,961 1,362 1,310
186,961 1,362 1,243
166,551 1,112 969
166,551 1,112 933
152,212 963 779
152,212 963 838
186,947 1,162 1,201
186,947 1,162 1,180
149,038 1,012 1,014
149,038 1,012 1,068
111,260 788 589
111,260 788 530
179,170 1,162 1,089
179,170 1,162 1,161
165,107 1,137 943
165,107 1,137 962
175,345 1,162 1,406
175,345 1,162 1,426
160,581 1,162 893
160,581 1,162 893
149,577 937 715
149,577 937 677
191,209 1,163 1,090
191,209 1,163 1,137
175,974 1,162 990
175,974 1,162 1,024
169,809 912 710
169,809 912 691
143,888 962 895
143,888 962 913
169,345 1,137 1,001
169,345 1,137 988
Continued---
150
COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS
School Name
Tapp (1975) Square Feet Capacity Enrollment
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
2006
157,435 1,137 1,074
-
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
2007
157,435 1,137 897
-
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
2008
157,435 1,137 891
-
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
2009
157,435 1,137 819
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
2010
157,435 1,137 737
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
2011
157,435 1,137 661
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
2012
157,435 1,137 724
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
2013
157,435 1,137 761
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
2014
157,435 1,137 805
325,200 1,912 1,724
374,180 2,637 2,258
337,584 2,587 1,927
319,000 1,987 2,115
321,068 1,987 1,509
319,000 1,987 2,080
310,950 2,112 2,010
504,107 2,362 2,168
406,817 2,787 2,651
328,000 2,062 1,798
319,768 1,788 2,029
260,606 1,912 1,787
388,425 2,612 1,911
297,400 2,062 1,700
307,655 2,312 2,639
2015
157,435 1,137 769
325,200 1,912 1,773
374,180 2,637 2,380
337,584 2,587 1,926
319,000 1,987 2,213
321,068 1,987 1,499
319,000 1,987 2,090
310,950 2,112 2,086
504,107 2,362 2,137
406,817 2,787 2,750
328,000 2,062 1,812
319,768 1,788 2,173
260,606 1,912 1,868
388,425 2,612 1,954
297,400 2,062 1,701
307,655 2,312 2,582
151
COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS
School Name
2006
2007
Wheeler (1964)
Square Feet
270,744 318,504
Capacity
1,762
1,837
Enrollment
1,806
1,813
Oakwood (1944)
Square Feet
93,612
93,612
Capacity
462
462
Enrollment
219
288
Performance Learning Center (located at Oakwood)
Enrollment
-
-
Hawthorne (Haven) (1958) (c)
Square Feet
32,500
32,500
Capacity
312
312
Enrollment
182
170
Fitzhugh Lee (Haven) (1935)(c)
Square Feet
35,684
35,684
Capacity
312
312
Enrollment
-
-
Kennesaw Charter (d)
Enrollment
436
540
Mableton Charter (d)
Enrollment
-
-
International Academy of Smyrna (d)
Enrollment
-
-
Devereux Georgia (d)
Enrollment
-
132
2008
318,504 1,837 1,797
93,612 462 286
-
32,500 312 156
35,684 312 -
495
569
414
108
2009
318,504 1,837 1,877
93,612 520 192
58
32,500 312 158
35,684 312 -
504
595
438
115
2010
318,504 1,837 1,981
93,612 462 156
47
32,500 312 160
35,684 312 -
437
472
580
105
2011
318,504 1,837 2,020
93,612 462 175
76
32,500 312 99
35,684 312 42
515
529
744
96
2012
318,504 1,837 1,955
93,858 462 79
57
32,500 312 88
35,684 312 43
614
526
793
62
2013
318,504 1,837 1,948
93,858 462 70
59
32,500 312 77
35,684 312 39
782
-
943
75
2014
2015
361,490 2,162 2,049
341,594 2,112 2,008
93,858 462 78
93,858 462 91
70
93
32,500 312 69
32,500 312 77
35,684 312 33
35,684 312 37
871
858
-
-
944
966
87
88
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
152
COBB COUNTY SCHOOL DISTRICT TEACHERS' SALARY SCHEDULE LAST TEN FISCAL YEARS
$90,000 $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000
$0 2006
2007
2008
Teachers' Salary Range
2009
2010
2011
2012
2013
Minimum Maximum Cobb Average
2014
2015
Fiscal Year
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Minimum
$
35,938
37,160
39,140
39,962
38,958
38,958
38,958
38,958
38,958
39,347
Maximum
$
77,730
80,374
82,435
84,204
82,088
82,088
82,088
82,088
82,088
82,908
Cobb Average
$
49,854
51,239
52,977
54,286
53,320
54,168
53,770
54,323
54,435
55,773
Note: Minimum reflects T-4 Certification, Step 1; Maximum is T-7 Doctorate, Step 30+.
Source: District Salary Schedules Georgia Department of Education
State-wide Average
$
48,247
49,836
51,466
52,823
53,155
52,830
53,002
52,956
52,973
53,424
153
COBB COUNTY SCHOOL DISTRICT ADMINISTRATIVE SALARY SCHEDULE JUNE 30, 2015
$200,000 $175,000 $150,000 $125,000 $100,000
$75,000 $50,000 $25,000
$0
Administrative Salary Range
Minimum
Maximum
Administrative 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 $ 186,850
109,835 91,852 99,121 77,219
100,818 84,224 82,432
Maximum $ 186,850
133,320 109,128 111,076
91,147 119,410 112,800 111,010
154
COBB COUNTY SCHOOL DISTRICT SCHEDULE OF INSURANCE IN FORCE JUNE 30, 2015
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
Self Insured
Self Insured Travelers #105651387 Self Insured Travelers KTJ-CMB-1849M21-A-14 T.W. Lord & Associates
6/1/1994 Ongoing $300,000
6/1/1994 Ongoing N/A 7/1/2014 7/1/2015 $7,500,000
6/1/1994 Ongoing $500,000 7/1/2014 7/1/2015 $500,000,000
8/1/2014 8/1/2015 Varies
N/A
N/A $23,956
N/A $566,347
Student/Parent Funded
Superintendent's
Old Republic Surety Co.
Bond
APO002121620
Principal's
Old Republic Surety Co.
Bond
APS1177822
Worker's Compensation Self Insured
Excess Worker's
US Specialty Underwriters
Compensation
NDE-0812674-13
Disability, Long-Term The Hartford
Policy #402273
Disability, Short-Term
STD Plan Option 1 The Hartford
Policy #402273
STD Plan Option 2 The Hartford
Policy #402273
STD Plan Option 3 The Hartford
Policy #402273
STD Plan Option 4 The Hartford
Policy #402273
STD Plan Option 5 The Hartford
Policy #402273
STD Plan Option 6 The Hartford
Policy #402273
STD Plan Option 7 The Hartford
Policy #402273
STD Plan Option 8 The Hartford
Policy #402273
Life Insurance and The Hartford #402273
AD&D
Dependent Life Insurance
The Hartford Policy #402273
Optional Life and AD&D
The Hartford #402273
5/1/2014 5/1/2015 $100,000
$350
8/1/2014 8/1/2015 $10,000
$3,990
N/A
N/A Statutory
10/1/14 12/31/15 $1,000,000
N/A $114,890
1/1/2015 12/31/2015 Benefit Schedule per salary
$1,103,786
1/1/2015
12/31/2015
8th calendar day. 66.67% of weekly earnings.
Employee pays $13.53 per month.
1/1/2015 12/31/2015 15th calendar day. 66.67% of weekly earnings.
Employee pays $11.21 per month.
1/1/2015 12/31/2015 31st calendar day. 66.67% of weekly earnings.
Employee pays $7.35 per month.
1/1/2015 12/31/2015 61st calendar day. 66.67% of weekly earnings.
Employee pays $7.16 per month.
1/1/2015 12/31/2015 8th calendar day. 50% of weekly earnings.
Employee pays $9.89 per month.
1/1/2015 12/31/2015 15th calendar day. 50% of weekly earnings.
Employee pays $8.19 per month.
1/1/2015 12/31/2015 31st calendar day. 50% of weekly earnings.
Employee pays $5.37 per month.
1/1/2015 12/31/2015 61st calendar day. 50% of weekly earnings.
Employee pays $5.22 per month.
1/1/2015 12/31/2015 2.5 times employee's
Monthly - employee pays $0.123 per
annualized regular salary $1,000 for Life and AD&D insurance.
The first $10,000 of coverage for
smokers or first $13,000 for non-
smokers is paid by CCSD.
1/1/2015 12/31/2015 Coverage options: $10,000 Monthly - employee pays $1 for
or $25,000
$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.
1/1/2015 12/31/2015 Employee can choose up to Monthly - employee pays $0.165 per
6 times his/her annual
$1,000 of Supplemental Life and
earnings if non-smoker, 5 AD&D coverage.
times his/her salary if
smoker
Continued ---
155
COBB COUNTY SCHOOL DISTRICT SCHEDULE OF INSURANCE IN FORCE JUNE 30, 2015
Type of Coverage Dental Insurance Option: Plus Plan
Dental Insurance Option: Base Plan
Cancer Insurance Economy Plan Standard Plan Deluxe Plan Critical Illness Insurance Ages 18-35 Years
Ages 36-50 Years
Ages 51-60 Years
Ages 61-63 Years
Ages 64+ Years
Vision Insurance Preferred Plus Plan
Base Plan
Legal Insurance
Name of Company and Policy Number Delta Dental Policy 11-1554000000
Delta Dental Policy 11-1554000000
Allstate Insurance Policy #V1935 Policy #V1935 Policy #V1935 Allstate Insurance Policy #V1935
Policy #V1935
Policy #V1935
Policy #V1935
Policy #V1935
Avesis 9155NC
9155NC
ARAG Group Policy #17840-001
Policy Period
From
To
Liability Limits
Annual Premium
1/1/2015 12/31/2015 Plus Plan provides preferred Monthly - employee pays $35.52 for
rates with a maximum
single coverage, $66.41 for employee
coverage of $1,000 per plus one, or $108.31 for family
participant per calendar coverage.
year.
1/1/2015 12/31/2015 Base Plan has co-pays for Monthly - employee pays $14.02 for
Preventative and Diagnostic single coverage, $26.22 for employee
services with a maximum of plus one, or $44.90 for family
$750 coverage per
coverage.
participant per calendar
year.
1/1/2015 12/31/2015 Based on Benefit Schedule Monthly - employee pays rates
depending on chosen plan.
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.
1/1/2015 12/31/2015 Provides $10,000 critical Monthly - employee pays rates
illness coverage to
depending age and smoking status.
employee; $5,000 to insured Non-smoker pays $4.33 for self; $6.62
spouse and dependents. for family. Smoker pays $5.79 for
self; $8.81 for family.
Non-smoker pays $9.78 for self;
$14.79 for family. Smoker pays
$14.75 for self; $22.25 for family.
Non-smoker pays $19.64 for self;
$29.59 for family. Smoker pays
$30.76 for self; $46.27 for family.
Non-smoker pays $33.28 for self;
$50.04 for family. Smoker pays
$49.07 for self; $73.73 for family.
Non-smoker pays $53.31 for self;
$80.09 for family. Smoker pays
$79.42 for self; $119.25 for family.
1/1/2015 12/31/2015 Based on Benefit Schedule Monthly - employee pays rates:
Single coverage is $4.72; coverage for
employee plus one family member is
$8.82, and family coverage is $13.10
each month.
Single coverage is $1.08 per month;
coverage for employee plus one family
member is $1.90, and family coverage
is $2.70 each month.
1/1/2015 12/31/2015 Based on Benefit Schedule Monthly - employee pays $12.27 for
single coverage or $15.23 for family
Coverage.
Concluded.
Source: District Records
156
COBB COUNTY SCHOOL DISTRICT SCHOOL LUNCH AND BREAKFAST PROGRAM LAST TEN FISCAL YEARS
amounts in thousands
Meals Served
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 2006
2007
2008
2009
2010 Lunch
2011 Breakfast
2012
2013
2014
2015
(amounts expressed in thousands)
Lunch Meals Served: Free Reduced Paid
Total Daily Average Student Price
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
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
5,974 748
4,031 10,753
64
$2.15-$2.40
6,317 813
4,492 11,622
66
$2.15-$2.40
Breakfast Meals Served: Free Reduced Paid
Total Daily Average Student Price
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
2,586 206 354
3,146 19
$1.25
2,850 239 414
3,503 20
$1.25
Total Meals Served: Free Reduced Paid
Total Daily Average
Source: District Records
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
8,560 954
4,385 13,899
83
9,167 1,052 4,906 15,125
86
157
COBB COUNTY SCHOOL DISTRICT NUMBER OF SCHOOLS LAST TEN FISCAL YEARS
120
Number of Schools
110
100
90
80
70
60
50
40
30
20
10
0 2006
2007
2008
2009 2010 Elementary
2011 2012 Middle High
2013
2014
2015
Fiscal Year
Elementary
Middle
High
2006
68
22
16
2007
68
24
17
2008
68
24
17
2009
68
25
17
2010
68
25
17
2011
68
25
16
2012
68
25
16
2013
67
25
16
2014
67
25
16
2015
67
25
16
Elementary, Middle and High Schools only. Special schools not listed.
Oakwood High School converted to digital academy in 2012 becoming a Special school.
Sky View Elementary converted to Administrative Facility in 2013.
In 2014, Brown Elementary closed and Smyrna Elementary opened for instruction.
158
Total 106 109 109 110 110 109 109 108 108 108
COBB COUNTY SCHOOL DISTRICT NUMBER OF HIGH SCHOOL GRADUATES AND AVERAGE DAILY ENROLLMENT AND ATTENDANCE LAST TEN FISCAL YEARS
112,000 111,000 110,000 109,000 108,000 107,000 106,000 105,000 104,000 103,000 102,000 101,000 100,000
Cobb County School District Average Daily Enrollment
Average Daily Enrollment
Average Daily Attendance
Fiscal Year 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Average Daily
Enrollment 104,901 107,082 106,734 106,256 106,835 106,868 106,944 108,240 109,752 111,264
Average Daily
Attendance 100,432 102,648 102,497 102,144 102,444 102,732 103,008 103,857 105,548 106,895
Attendance Percentage
96% 96% 96% 96% 96% 96% 96% 96% 96% 96%
Number of Graduates
6,413 6,522 6,765 7,126 7,177 7,350 7,192 7,425 7,313 7,366
Graduate Percentage
94.41% 92.91% 91.85% 98.36% 97.61% 93.91% 99.41% 99.48% 98.37% 99.46%
Note: Percentage of graduates based on active enrollment at end of current school year. Georgia Department of Education is required to use four-year Adjusted Cohort Graduation Rate (ACGR) for statewide graduation rates.
Source: District Records
159
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
2006
2007
Active Enrollment By Grade Level 2008 2009 2010 2011 2012
2013
2014
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
2015
Fiscal Year 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Pre-K and K 9,611 9,604 9,065 8,874 9,262 9,253 9,159 9,523 9,363 9,363
Grade 1
7,993 8,246 8,260 8,142 8,029 8,292 8,189 8,297 8,669 8,461
Grade 2
8,012 8,061 8,262 8,176 8,286 8,001 8,303 8,296 8,473 8,829
Grade 3
8,013 8,303 8,233 8,298 8,285 8,369 8,184 8,422 8,464 8,592
Grade 4
7,964 7,921 8,052 8,147 8,291 8,166 8,330 8,191 8,503 8,541
Grade 5
8,141 8,229 8,037 8,189 8,230 8,344 8,284 8,495 8,331 8,680
Grade 6
8,031 8,069 8,035 7,812 8,131 8,077 8,155 8,242 8,389 8,290
Grade 7
8,264 8,132 8,143 7,973 7,822 8,165 8,186 8,249 8,381 8,474
Grade 8
8,201 8,280 8,187 8,254 8,007 7,868 8,154 8,229 8,372 8,599
Grade 9
9,141 8,950 8,928 8,810 9,850 9,804 9,437 9,637 9,874 10,090
Grade 10
8,101 8,171 8,083 8,331 7,391 8,121 8,021 7,938 8,394 8,817
Grade 11
7,217 7,586 7,406 7,491 7,551 6,549 6,865 6,931 6,882 6,918
Grade 12 Total
6,793 105,482 7,020 106,572 7,365 106,056 7,245 105,742 7,353 106,488 7,827 106,836 7,235 106,502 7,464 107,914 7,434 109,529 7,406 111,060
Source: District Records
160
COBB COUNTY SCHOOL DISTRICT CLASSROOM BUILDINGS, GRADE LEVELS AND ACREAGE JUNE 30, 2015
School Name Acworth Intermediate Addison Argyle Austell Baker Bells Ferry Belmont Hills Big Shanty Birney Blackwell Brown (b) Brumby Bryant Bullard Chalker Cheatham Hill Clarkdale Clay Compton Davis Dowell Due West East Side Eastvalley Fair Oaks Ford Frey Garrison Mill Green Acres Harmony Leland Hayes Hendricks Hollydale Keheley Kemp Kennesaw Kincaid King Springs LaBelle Lewis Mableton McCall Primary Milford Mount Bethel Mountain View Murdock Nicholson Nickajack Norton Park Pickett's Mill Pitner Powder Springs Powers Ferry Riverside Primary Riverside Intermediate Rocky Mount Russell Sanders Sedalia Park Shallowford Falls Smyrna Sope Creek
Grades 2-5 K-5 K-5 K-5 K-5 K-5 K-5 3-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-2 K-5 K-5 K-5 K-5 K-5 K-1 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5 K-1 2-5 K-5 K-5 K-5 K-5 K-5 K-5 K-5
Active Enrollment
732 615 454 553 782 738 360 753 732 723
1,024
980 910 707 1,094 724 396 590 578 942 626 1,268 691 960 717 746 690 732 721 934 529 687 538 1,035 667 726 859 539 703 953 396 458 1,040 853 896 516 1,115 916 750 888 824 436 671 1,182 622 697 827 845 669 954 1,150
Size of Occupied
Site (acres) Year (a)
15.0
2001
12.5
1989
8.8
1961
12.4
2005
15.0
1988
10.0
1962
10.2
1952
22.3
1969
26.8
1973
16.0
1997
6.2
1955
9.5
1966
44.0
1991
20.0
2003
25.5
1997
19.2
1997
15.0
2012
8.0
1961
28.3
1969
13.0
1987
28.9
1989
10.2
1957
10.0
2011
7.8
1960
10.3
1957
39.0
1991
26.2
1996
14.1
1984
10.1
1995
8.4
1951
24.2
1994
23.0
2002
15.0
1968
20.7
1987
26.2
2003
20.7
1992
24.0
1972
9.9
1956
10.2
1955
10.9
1986
12.1
2012
6.0
2005
8.7
1954
25.0
1978
13.0
1986
15.3
1975
23.1
1989
16.8
1998
9.2
1961
40.9
2008
22.2
2003
15.9
1988
10.0
1951
9.0
2005
18.4
2001
21.8
1977
14.1
1961
21.1
1997
10.2
1956
15.3
1990
11.9
2013
16.0
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 61 73
Portable Classrooms
3 2 15 3 3 10 3 11 1 2 2 3 4 6 1 -
Square Footage
131,924 81,334 56,904 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 72,896 104,362 116,302 99,735 112,620 143,107 133,344
Capacity 913 662 537 562 987 712 562 837 912 837 412 912 962 987 963
1,063 862 437 937 788 963 587
1,087 562 863 862 963 688 688 512 962 962 862 588 962 962 762 587 688 962 962 562 612 937 887 962 637 937 837 963 962 888 462 562 962 612 962 862 888 962 962
1,162
161
COBB COUNTY SCHOOL DISTRICT CLASSROOM BUILDINGS, GRADE LEVELS AND ACREAGE JUNE 30, 2015
School Name Still Teasley Timber Ridge Tritt Varner Vaughan Awtrey Barber Campbell Cooper Daniell Dickerson Dodgen Durham East Cobb Floyd Garrett Griffin Hightower Trail Lindley 6th 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 Digital Academy Performance Learning Ctr (c) Hawthorne (Haven) Fitzhugh Lee (Haven) Kennesaw Charter (d) Smyrna Charter (d) Devereux Georgia (d)
TOTALS
Grades K-5 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 6-12 K-5 K-6 K-8 1-12
Active Enrollment
789 777 612 900 674 690 823 938 1,409 939 962 1,254 1,227 1,058 1,243 933 838 1,180 1,068 530 1,161 962 1,426 893 677 1,137 1,024 691 913 988 769 1,773 2,380 1,926 2,213 1,499 2,090 2,086 2,137 2,750 1,812 2,173 1,868 1,954 1,701 2,582 2,008
91 93 77 37 858 966 88 111,060
Size of Occupied
Site (acres) Year (a)
10.9
1978
13.2
1961
11.5
1990
23.7
1979
20.0
1991
28.0
1996
26.2
1964
25.8
2005
33.2
1951
75.1
2001
20.0
1965
21.9
1980
20.6
1975
43.0
1998
20.0
1963
20.0
1964
36.6
1972
24.4
1972
26.4
1993
28.7
1962
33.3
2001
83.8
1992
29.4
2006
22.0
1979
34.8
1980
38.0
2006
43.1
2001
39.7
1979
16.5
1988
21.8
1993
16.9
1975
114.7
2008
47.9
1963
73.0
1991
95.0
2006
63.1
2002
75.0
2001
49.3
1980
74.9
1930
46.8
1957
50.7
1961
52.5
1963
47.0
1987
54.4
1951
41.3
1973
43.3
1975
48.4
1964
10.0
1944
Number of Classrooms
62 31 39 60 61 60 64 71 87 71 72 73 74 71 83 68 60 70 62 45 71 70 71 71 58 72 71 57 59 70 70 99 135 133 102 102 102 108 127 143 106 93 98 134 106 119 108 43
6.2
1958
18
7.0
1935
17
2,952.4
7,120
Portable Classrooms
2 2 8 5 -
-
86
Square Footage
117,539 52,764 73,450
109,769 109,827 122,260 156,660 178,465 220,228 170,905 177,356 166,048 183,798 173,487 186,961 166,551 152,212 186,947 149,038 111,260 179,170 165,107 175,345 160,581 149,577 191,209 175,974 169,809 143,888 169,345 157,435 325,200 374,180 337,584 319,000 321,068 319,000 310,950 504,107 406,817 328,000 319,768 260,606 388,425 297,400 307,655 341,594
93,858
32,500 35,684
Capacity 963 487 612 937 962 937
1,037 1,162 1,338 1,162 1,163 1,187 1,212 1,162 1,362 1,112
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 2,587 1,987 1,987 1,987 2,112 2,362 2,787 2,062 1,788 1,912 2,612 2,062 2,312 2,112 462
312 312
16,660,222
119,515
(a) Occupied year represents the year during which the school was initially opened and utilized for instructional purposes, but does not reflect the most recent year of subsequent additions, improvements, or renovations, if any.
(b) With the opening of Smyrna Elementary for school year 2013-14, Brown Elementary closed at the end of 2012-13. During fiscal year ended 2015, Brown facilities were used to house Teasley primary grades during construction of new classrooms at Teasley Elementary.
(c) Performance Learning Center is housed at Oakwood. (d) Operated by unaffiliated non-profit entities. Enrollment reported by Cobb County School District; buildings do not belong to the district.
Source: District Records
162