Cobb County School District
Comprehensive Annual Financial Report
Fiscal Year Ended June 30, 2019
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, 2019
INTRODUCTORY SECTION Letter of Transmittal Certificate of Achievement / GFOA Certificate of Excellence / ASBO Cobb County School District - Function and Composition Cobb County School District Elected Officials and
Superintendent of Schools Cobb County School District - Superintendent's Executive Cabinet Cobb County School District - Organizational Chart
FINANCIAL SECTION Independent Auditor's Report Management's Discussion and Analysis Basic Financial Statements District-wide Financial Statements:
Statement of Net Position Statement of Activities Fund Financial Statements: Balance Sheet - Governmental Funds Reconciliation of the Governmental Funds Balance Sheet to the
Statement of Net Position
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 Fund Descriptions
Combining Balance Sheet - Nonmajor Governmental Funds
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Nonmajor Governmental Funds
Schedule of Revenues, Expenditures, and Changes in Fund Balances - Budget and Actual (Non-GAAP Budgetary Basis) Annually Budgeted Nonmajor Governmental Funds
Internal Service Funds Fund Descriptions
Combining Statement of Fund Net Position - Internal Service Funds
PAGE 21
22
23 24 25 26 27 28-66 67-74
75-77 78-82 83-87
88-105 106 107
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 SPLOST V - 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
PAGE 108 109 110 111 112
113-114 115-116 117-118
119 120-121 122-123 124-125 126-127
128 129
Direct and Overlapping Property Tax Rates Last Ten Fiscal Years Principal Property Taxpayers December 31, 2018 and Nine Years Ago Legal Debt Margin Information Last Ten Fiscal Years Legal Debt Margin Information Fiscal Year 2019 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
PAGE 130 131 132 133 134
135 136
137 138 139
140 141
142 143 144 145
146 147
School Buildings Last Ten Fiscal Years Teachers Salary Schedule Last Ten Fiscal Years Administrative Salary Schedule 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
148-155 156 157
158-159 160 161
162 163 164-165
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One Team, One Goal: Student Success
514 Glover Street Marietta, GA 30060 Telephone: (770) 426-3300 www.cobbk12.org
December 4, 2019
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, 2019. This report conforms to generally accepted accounting principles as applicable to governmental entities. The Financial Services Division prepared this report. Responsibility for both the accuracy of the presented data and the completeness and fairness of the presentation, including all disclosures, rests with the District's administration and is presented for your careful review.
We believe the data, as presented, is accurate in all material aspects; that it is presented in a manner designed to fairly set forth the financial position and results of operations of the District as measured by the financial activity of its various funds; and that all disclosures necessary to enable the reader to gain the maximum understanding of the District's financial activity have been included. A comprehensive framework of internal control is in place to give reasonable assurance that the financial statements are free of any material misstatements. Because the cost of internal controls should not exceed anticipated benefits, the objective is to provide reasonable, rather than absolute, assurance that the financial statements are free of any material misstatements.
Readers of this report are encouraged to consider the information presented here in conjunction with additional information presented in the Management's Discussion and Analysis beginning on page five of this report.
____________________________________________________________________________________
PROFILE OF THE SCHOOL DISTRICT ____________________________________________________________________________________
Cobb County School District is one of two public school districts located in Cobb County, Georgia. The District serves the entire county area with the exception of the City of Marietta, which has its own independent school district. It provides a program of public education from kindergarten through grade twelve. The purpose and responsibility of the District is to provide a thorough and efficient educational system for the children enrolled in public schools within its boundaries whereby each child has access to programs and services that are appropriate to his or her educational needs.
The District is the second largest school system in Georgia and the 23rd largest in the United States with an active daily enrollment of 111,386. The District is governed by a Board of Education consisting of seven members elected from seven county posts. Members serve four-year terms and each year appoints
BOARD OF EDUCATION SUPERINTENDENT
David Chastain, Chair Brad Wheeler, Vice Chair David Banks Charisse Davis Jaha Howard David Morgan Randy Scamihorn
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. Mr. Ragsdale also previously served as the Deputy Superintendent for Operations and as the Chief Technology Officer. During his tenure with the District, he has managed plant operations, provided oversight for the District's technology integration, and been responsible for planning and execution of capital projects approved by Cobb voters and funded by the Special Purpose Local Option Sales Tax. Mr. Ragsdale holds a Bachelor of Science in Information Systems and a Master's Degree in Educational Leadership, both from Kennesaw State University and is also the recipient of Kennesaw State University's Distinguished Alumni Award. He has more than two decades of experience in school operations and information technology in the public and private sectors, including roles as Chief Information Officer for nearby Paulding County Schools and in network and database management for Bellsouth (AT&T) and IBM.
The District prides itself on providing a quality educational experience to all of our students, while efficiently managing our resources. Here are a few of the many accomplishments from the 2019 fiscal year:
The District average score on the SAT of 1,114 is 20 points higher than the other metro schools districts, 66 points higher than the state average and 75 points higher than the national average.
The four-year graduation rate for Cobb high schools was 87% in 2019. Cobb exceeds the state graduation rate of 82% by 5 percentage points.
Students in the Cobb County School District received higher mean scores than their peers in all subject areas of the Georgia Milestones, in all grade levels. In end of grade and end of course tests 83.8% of Cobb students scored between levels 2-4 compared to the state average of 75.6%.
A key state performance measure for student academic achievement is the College and Career Readiness Performance Index (CCRPI). The District has outperformed that state average for eight consecutive years. Cobb schools averaged a score of 86.1 in 2019, exceeding the state average of 75.9 by ten percentage points.
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 2018 (most recent figures available), Cobb County continued its trend of a growing population, which increased from 684,776 in 2009 to 756,865 in 2018. The unemployment rate remained low at 3.7%. Student enrollment for the 2019 fiscal year was 111,386.
We are pleased by the positive increase in property values in fiscal year 2019 and expect this trend to continue into fiscal year 2020. In fiscal year 2019 the District's gross property digest increased by 8.5% over the 2018 fiscal year's digest as compared to an increase of 6.6% the previous year. This sustained increase in property valuations provides a stable and growing revenue source. ____________________________________________________________________________________
LONG-TERM FINANCIAL PLANNING ____________________________________________________________________________________
The District anticipates continuing to meet its projected capital improvement needs by means of county special sales tax revenues. On March 21, 2017, the voters of Cobb County approved the continuation of the Education Special Purpose Local Option Sales Tax (Ed-SPLOST V), beginning January 1, 2019 and ending December 31, 2023. The revenue generated from the 1% special education 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 148-155, in the statistical section. The District anticipates acquiring a short-term construction loan in the next fiscal year, which will expedite the completion of various construction projects authorized by the new SPLOST V Special Sales Tax Initiative. The District's exceptional Aaa credit rating, first issued by Moody's in 2015, and reaffirmed in 2017, should qualify the District for a competitive interest rate. ____________________________________________________________________________________
OTHER INFORMATION ____________________________________________________________________________________
New Educational Model: The Cobb County School District has now completed its third year as a Strategic Waiver School System. 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 Uniform Guidance and Government Auditing Standards.
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Financial Reporting Awards: Every year since 1980, our comprehensive annual financial report has earned a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association ofthe United States and Canada (GFOA). Additionally, the District's comprehensive annual financial report received the Association of School Business Officials' (ASBO) Certificate of Excellence in Financial Reporting every year since 1984.
These prestigious awards are made only to government units which publish a comprehensive annual financial report that is easily readable, efficiently organized, and confonning to program standards and satisfies generally accepted accounting principles and applicable legal requirements. The awards are valid for a period of one year only. We believe the accompanying report continues to conform to award eligibility, and will submit it for determination as appropriate.
Budget Presentation Award: The District prepares an official budget document each year which is issued as a separate report. Since 1990, the district has received the Distinguished Budget Presentation Award from GFOA. In order to receive this award, the District must publish a budget document that meets program criteria as a policy document, a financial plan, an operations guide, and as a communications device. The award is valid for a period of one year only. We have received the Meritorious Budget Award from ASBO every year since 2005. The criteria required by ASBO includes an introductory, organizational, financial and information section. We believe the most recent budget continues to conform to program requirements, and we are submitting it to GFOA and ASBO to determine its eligibility for another award.
Acknowledgments: We wish to express our appreciation to Jan Hendrix, Director of Accounting Services, and to the entire staff of the Financial Services Division whose dedicated efforts have enabled this report to be prepared on a timely basis.
The active involvement and professional support of Mauldin & Jenkins, LLC Audit Director, Christopher McKellar, and his auditing staff have been instrumental in the prompt completion of the associated audit of this report.
In closing, sincere gratitude is expressed to the Board of Education for their leadership and dedication to the Cobb County School District, its taxpayers, employees, and, most importantly, its students. To the citizens of the Cobb County School District, please accept our gratitude for your support of our successful school district.
~
Bradley Reuben Johnson Chief Financial Officer
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Government Finance Officers Association
Certificate of Achievement for Excellence in Financial
Reporting
Presented to
Cobb County School District Georgia
For its Comprehensive Annual Financial Report
for the Fiscal Year Ended
June 30, 2018
Executive Director/CEO
v
The Certificate of Excellence in Financial Reporting is presented to
Cobb County School District
for its Comprehensive Annual Financial Report (CAFR) for the Fiscal Year Ended June 30, 2018.
The CAFR meets the criteria established for ASBO International's Certificate of Excellence.
Tom Wohlleber, CSRM President
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Siobhn McMahon, CAE Chief Operating Officer
COBB COUNTY SCHOOL DISTRICT
FUNCTION AND COMPOSITION JUNE 30, 2019
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, 2019, 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. David Chastain Mr. Brad Wheeler Mrs. Charisse Davis Dr. Jaha Howard Mr. David Morgan Mr. David Banks Mr. Randy Scamihorn
Term Expires December 31, 2022 December 31, 2020 December 31, 2022 December 31, 2022 December 31, 2020 December 31, 2020 December 31, 2020
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COBB COUNTY SCHOOL DISTRICT ELECTED OFFICIALS AND SUPERINTENDENT OF SCHOOLS
JUNE 30, 2019
RANDY SCAMIHORN
POST 1
7 Years Served
DR. JAHA HOWARD
POST 2
1 Year Served
DAVID MORGAN
POST 3 11 Years Served
DAVID CHASTAIN
POST 4
5 Years Served
DAVID BANKS
POST 5 11 Years Served
CHARISSE DAVIS BRAD WHEELER CHRIS RAGSDALE
POST 6 1 Year Served
POST 7 7 Years Served
SUPERINTENDENT
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COBB COUNTY SCHOOL DISTRICT
SUPERINTENDENT'S EXECUTIVE CABINET JUNE 30, 2019
Chris Ragsdale
CCSD Superintendent
John Adams
Deputy Superintendent of Human Resources & Operations
Dr. Kevin Daniel
Chief of Staff
John Floresta
Chief Strategy & Accountability Officer
Sherri Hill
Chief School Leadership Officer
Bradley Reuben Johnson Chief Financial Officer
Jennifer Lawson
Chief Academic Officer
Marc Smith
Chief Technology Officer
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COBB COUNTY SCHOOL DISTRICT ORGANIZATIONAL CHART JUNE 30, 2019
Citizens of Cobb County
Board of Education
Board Attorney
Superintendent Chris Ragsdale
Chief Financial Officer
Bradley Reuben Johnson
Chief of Staff
Dr. Kevin Daniel
Chief Academic Officer
Jennifer Lawson
Deputy Superintendent HR & Operations
John Adams
Chief Strategy & Acc ountabi lity
Officer
John Floresta
Chief School Leadership
Officer
Sherri Hill
Chief Tec hnol ogy
Officer
Marc Smith
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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, 2019, 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
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, 2019, 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.
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 Public School Employee Retirement System of Georgia, Schedule of Proportionate Share of the Net OPEB Liability School OPEB Fund, and the Schedule of Contributions School OPEB Fund, as listed in the table of contents, be presented to supplement the basic financial statements. Such information, 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 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, the SPLOST V 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 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 SPLOST V 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 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 SPLOST V 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 Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated December 4, 2019 on our consideration of the Cobb County Board of Education's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Cobb County Board of Education's internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Cobb County Board of Education's internal control over financial reporting and compliance.
Atlanta, Georgia December 4, 2019
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MANAGEMENT'S DISCUSSION
AND ANALYSIS
COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2019
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, 2019. The intent of this discussion and analysis is to look at the District's financial performance as a whole. Readers should also review the transmittal letter and complete financial statements, with notes, to enhance their understanding of the District's financial performance.
Financial Highlights
Key financial highlights for fiscal year 2019 are as follows:
Total net position increased from $(19.3) million in fiscal year 2018 to $121.1 million in fiscal year 2019, an increase of $140.3 million, primarily due to a decrease in long-term pension and post-employment liabilities.
Total revenue increased from $1,355.0 million in fiscal year 2018 to $1,428.8 million in fiscal year 2019, an increase of $73.8 million. The revenue increase was mainly from an increase in property taxes due to higher property valuations and gains from the sale of several parcels of real property by the District.
Total expenses decreased from $1,303.9 million in fiscal year 2018 to $1,288.3 million in fiscal year 2019, a decrease of $15.2 million. The decrease in expense was largely due to a lower assessment of future pension and post-employment benefit costs. Each year an actuarial analysis estimates these costs. Additionally, the State of Georgia waived the employer contribution for employee health insurance for the last month of the fiscal year, resulting in a substantial reduction in current year benefit costs for the District.
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
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COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2019
may serve as a useful indicator of whether the financial position of the District is improving or deteriorating.
The Statement of Activities presents information showing how the District's net position changed during the most recent fiscal year. Changes in net position appear as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses appear in this statement for some items that will result in future fiscal period cash flows (e.g., uncollected taxes and earned but unused vacation leave).
Fund Financial Statements
A fund is a grouping of related accounts used to maintain control over resources that have been segregated for specific activities or objectives. The District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with financerelated legal requirements. District funds are in one of 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 on the balances left at year-end that are available for spending in future periods. These statements also provide a detailed short-term view of the District's general government operations and the basic services it provides. Governmental fund information helps you determine whether there are more or fewer financial resources that can be spent in the near future to finance educational programs. The District maintains numerous governmental funds with the majority of activity occurring in the General Fund.
Proprietary Funds
Proprietary funds are those used to account for ongoing organizations and activities which are similar to those found in the private sector. The District's proprietary funds are internal service funds and report activities that provide supplies and services for its other programs and activities. The District's internal service funds consist of the Unemployment Compensation Fund and the Self-Insurance Fund.
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, 2019 District-wide Financial Analysis The Condensed Statement of Net Position Table (Table I), presented on the following page, summarizes and compares the Statement of Net Position for fiscal year 2018 and fiscal year 2019. In fiscal year 2019, the District's net position increased 726.9%, or $140.3 million, over the prior year. This resulted primarily from a decrease in the long-term liability for pensions and other post-employment benefits. Total current and other assets reflected a net increase of 19.5%, or $84.0 million, largely due to an increase in cash as a result of higher tax revenue and the sale of several District properties. Capital Assets increased by 5.1%, or $75.3 million, which was chiefly attributable to capital improvements to local school buildings financed by SPLOST sales taxes. Governmental accounting standards require the District to report its proportional liability of state-administered pension plans and now the proportional liability of post-employment benefits, namely retiree health insurance.
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COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2019
Table I Condensed Statement of Net Postion (amounts expressed in millions)
2019 Net Position
(1,536.9)
267.7 514.7
222.8 122.6
195.9
1,535.4 1,801.3
(1,800.0) (1,400.0) (1,000.0) (600.0) (200.0) 200.0 600.0 1,000.0 1,400.0 1,800.0
Deferred Outflows of Resources Unrestricted Restricted Other Liabilities
Current Assets Deferred Inflows of Resources Net Investment in Capital Assets Long-Term Liabilities
Governmental Activities
Assets: Current and Other Assets Capital Assets
Total Assets
2018
2019
$
430.7 $
1,483.4
1,914.1
514.7 1,558.7 2,073.4
Percentage Change
19.5 5.1 8.3
Deferred Outflows of Resources
223.9
267.7
19.6
Liabilities: Long-Term Liabilities Other Liabilities
Total Liabilities
$ 1,924.9 $ 1,801.3
(6.4)
137.5
195.9
42.5
2,062.4
1,997.2
(3.2)
Deferred Inflows of Resources
94.9
222.8
134.8
Net Position:
Net Investment in Capital Assets $
Restricted
Unrestricted
Total Net Position
$
1,463.7 $ 142.4
(1,625.4) (19.3) $
1,535.4 122.6
(1,536.9) 121.1
4.9 (13.9)
5.4 727.5
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COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2019
Changes in Net Position from Operating Results
The Changes in Net Position from Operating Results Table (Table II), presented on the following page, summarizes and compares the Statement of Activities for fiscal year 2018 and fiscal year 2019.
Revenues
In fiscal year 2019, the District's total revenues increased 5.4%, or $73.7 million, over the prior year due to increases in property tax revenue, state funding, interest income, and gains from the sale of property.
Operating grants and contributions increased by 0.4%, or $2.3 million, largely due to an increase in state instructional program revenue.
Capital grants and contributions increased by 107.4%, or $2.9 million, primarily due to state grants to fund new school construction and improvements.
General property taxes increased 8.4%, or $42.2 million, mainly due to a 8.5% increase in the real property tax digest.
Charges for services increased by 3.7% or $2.7 million due to FNS revenue increased $2.0 million and ASP increased $0.5 million.
Other revenue increased by 705.3%, or $13.4 million. This was primarily due to gain on sale of capital assets of $12.3 million from the sale of several District real estate properties.
Expenses
In fiscal year 2019, the District's total expenses decreased 1.2%, or $15.6 million, due primarily to lower long-term and current year employer benefit costs.
Instruction decreased by 1.1%, or $9.4 million, largely due to lower long-term pension and post-employment benefit costs as compared to last year. In addition, the State of Georgia waived the employer contribution of employee health insurance for the final month of the fiscal year, which resulted in savings of approximately $10.4 million.
School and administrative services decreased 5.4%, or $11.2 million.
Student transportation decreased by 1.0%, or $0.6 million.
Maintenance and operations increased by 1.2% or $0.9 million.
9
COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2019
Table II Changes in Net Position from Operating Results (amounts expressed in millions)
Program Revenues and Expenses - 2019
$1,000
$500
$0
Governmental Activities
Revenues: Program Revenues: Charges for Services Operating Grants and Contributions Capital Grants and Contributions General Revenues: Taxes Interest Income Other
Total Revenues Expenses: I ns tructi on Pupil and Instructional Services School and Administrative Services Student Transportation Maintenance and Operations Student Activities Interest and Fiscal Charges
Total Expenses
Increase in Net Positon Beginning Net Position Ending Net Postion
2018 2019
2018
2019
Change 2018-2019
$
72.8 $
75.5
632.1
634.4
2.7
5.6
641.8 3.7 1.9
1,355.0
691.1 6.8
15.3 1,428.7
$ 842.8 $ 833.4
87.6
90.6
207.2
196.0
61.7
61.1
73.7
74.6
30.7
31.6
0.2
1.0
1,303.9
1,288.3
$
51.1 $ 140.4
(70.4)
(19.3)
$
(19.3) $ 121.1
3.7% 0.4% 107.4%
7.7% 83.8% 705.3%
5.4%
-1.1% 3.4% -5.4% -1.0% 1.2% 2.9% 100.0% -1.2%
174.8% -72.6% 727.5%
10
COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2019
Table III Net Cost of Governmental Activities (amounts expressed in thousands)
$1,000, 000 $800,00 0
833,448
Total and Net Costs - 2019 Net Cost Total Cost
$600,00 0
$400,00 0 264,331
$200,00 0
$0
($200,000)
196,042
37,209
53,378 116,287
13,220
51,048
61,112
74,614
55,263
72,285
31,664
871 871
(582)
Total Cost of Services
2018
2019
Change 2018-2019
Net Cost of Services
2018
2019
Change 2018-2019
I ns tructi on
$
Pupil Services
Instructional Services
School/Administrative Services
Student Transportation
Maintenance and Operations
Student Activities
Interest and Fiscal Charges
Total
$
842,846 37,822 49,754
207,198 61,737 73,717 30,691 167
1,303,932
$ 833,448 37,209 53,378
196,042 61,112 74,614 31,664 871
1,288,338
-1.1% -1.6% 7.3% -5.4% -1.0% 1.2% 3.2% 100.0% -1.2%
$ 275,960 12,459 47,700
133,285 56,507 71,316 (973) 167
$ 596,421
$ 264,331 13,220 51,048
116,287 55,263 72,285 (582) 871
$ 572,723
-4.2% 6.1% 7.0% -12.8% -2.2% 1.4% -40.2% 100.0% -4.0%
Governmental Activities
The Net Cost of Governmental Activities Table (Table III) presents the total and net cost of eight major District activities for fiscal year ended June 30, 2019: Instruction, Pupil Services, Instructional Services, School and Administrative Services, Student Transportation, Maintenance and Operations, Student Activities, and Interest and Fiscal Charges.
11
COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2019
Net Cost of Services is the total cost less fees generated by the activities and intergovernmental revenue provided for specific programs. The net cost shows the financial burden on the District's taxpayers by each activity. The total cost of governmental services in fiscal year 2019 was $1,288.3 million. Users of the District's programs financed $75.5 million of the costs. Federal and State grants, subsidized programs and contributions funded $640.1 million of the costs. Lastly, District taxpayers financed the remaining costs of fiscal year 2019, which totaled $572.7 million.
The School District's Funds
The District ended fiscal year 2019 with a healthy fund balance in its governmental funds. The combined balance of all governmental funds, at $305.4 million, was 8.7% higher than 2018's ending balance of $280.8 million. The General Fund's fund balance increased by $46.9 million, or 33.4%, due primarily to increased property tax revenue. SPLOST IV decreased its fund balance by 27.3% from the prior year, or $27.2 million, in the final year of its tax referendum. SPLOST V, which began in January, 2019, accumulated a fund balance of $7.8 million, in its initial year. The System Wide/County-Wide Building Fund increased its fund balance by 412.7% from the prior year, or $0.7 million. The nonmajor governmental fund balances decreased in the aggregate by $3.7 million, or 9.2%. This decrease was due to the closing out of SPLOST III construction projects and a resulting zero fund balance at year-end.
General Fund Budgetary Highlights
The most significant fund for the District is the General Fund, funded primarily through state revenue and local property tax revenue. The State of Georgia is required to maintain a balanced budget (a constitutional requirement in Georgia), as are all state-funded school districts.
The final amended budget for revenues was only 0.9% greater than the original budget. The final amended budget for expenditures was only 2.6% greater in total than the original budget. The only significant revised budget line item was for Central Operations. Its final amended budget was $31.7 million, a $10.3 million increase over the original budget of $21.4 million. The budget for Central Operations was increased for anticipated school technology purchases specifically approved by the Cobb County Board of Education. Actual Central Office expenditures from the General Fund totaled $21.1 million, and were significantly under budget.
Revenue for local property taxes and state student funding were both higher in fiscal year 2019, by $42.2 million and $2.4 million, respectively. This reflected a rebound in property tax values and increased tax collections at the state level. Although we budgeted a decrease in General Fund Balance of $25.8 million, due to higher than expected revenues and lower than expected expenditures, the General Fund Balance, in fact, increased by $46.9 million. Actual revenue exceeded budget by $42.1 million, and actual expenditures were below budget by $30.6 million. This netted a favorable budget variance of $72.7 million.
12
COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2019
General Fund Balance
The unassigned General Fund balance at June 30, 2019 was $120.7 million. This represents approximately 41 days of general fund expenditures. The Board of Education made a concerted effort to maintain adequate reserves for the District.
Other Governmental Funds
Capital Projects Funds
The District uses Capital Projects Funds to account for school construction and improvement projects which, prior to 1999, were financed primarily through bond issues. SPLOST IV and V focus on revitalizing schools.
SPLOST IV began January 1, 2014 and ended on December 31, 2018. SPLOST V began January 1, 2019 and will end on December 31, 2023. The SPLOST IV fund had expenditures of $106.2 million and an ending fund balance of $72.2 million. SPLOST V had expenditures of $63.3 million and an ending fund balance of $7.8 million. A full listing of SPLOST IV and SPLOST V projects can be located on pages 113-118.
The System Wide/County-Wide Building Fund had no expenditures and an ending fund balance of $0.8 million.
Nonmajor Governmental Funds
The Nonmajor Governmental Funds, had aggregate expenditures of $159.5 million and aggregate fund balances of $36.9 million in fiscal year 2019. Within the Nonmajor Governmental Funds, the Funds with the highest expenditures in fiscal year 2019 were School Nutrition at $56.5 million, Local School Funds at $31.7 million, Title I (of the Elementary and Secondary Education Act) at $21.8 million, and Special Education at $19.3 million. Nonmajor Governmental Funds ending the year with the highest fund balances were School Nutrition at $18.2 million, Local School Funds at $9.9 million, and After School Program at $4.1 million. The fund balance of Nonmajor Governmental Funds, in aggregate, decreased from $40.6 million in fiscal year 2018 to $36.9 million in fiscal year 2019, a decrease of $3.7 million. Descriptions of these funds can be located on pages 75-77.
13
COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2019 Capital Assets and Debt Administration Capital Assets The Capital Assets, Net of Depreciation (Table IV), presented on the following page, summarizes and compares the capital assets for fiscal year 2018 and fiscal year 2019. Capital assets increased 5.1% from $1,483.4 million in fiscal year 2018 to $1,558.7 million in fiscal year 2019, an increase of $75.3 million. Construction in Progress increased by $19.0 million, or 11.7%. Land increased by $1.9 million, or 1.4%, as land was acquired for future school expansion. Furthermore, Library and Textbooks increased by $3.1 million, or 15.4%. Equipment increased by $20.0 million, or 28.3%. More detailed information about capital assets can be found in Note 5 of the Notes to the Basic Financial Statements. Long-Term Obligations As of June 30, 2019, the District had $11.2 million in outstanding long-term obligations for compensated absences, a net pension liability of $996.1 million, and other post-employment benefits of $786.7 million. More detailed information about long-term obligations can be found in Notes 10, 11, 14 and 15 of the Notes to the Basic Financial Statements.
14
COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2019
Table IV Capital Assets, Net of Depreciation (amounts expressed in thousands)
Equi pment 6%
Li bra ry Books and Te xtb o o ks 1%
La nd 9%
Cons truction in Progres s 12%
I n tangibles 0%
Bui ldings a nd I mp ro vements
72%
Land
Construction in Progress
Buildings and Improvements Equipment
Intangibles Library Books and Textbooks
Capital Assets: Land Construction in Progress Intangibles Buildings and Improvements Equipment Library Books and Textbooks
Total
Change
2018
2019 2018-2019
$ 134,853 162,340 4,273
1,091,692 70,423 19,837
$ 136,711 181,345 5,951
1,121,406 90,380 22,897
$ 1,483,418 $ 1,558,690
1.4% 11.7% 39.3% 2.7% 28.3% 15.4%
5.1%
15
COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2019 Factors Bearing on the District's Future We are fortunate that the Cobb County School District has no issued long-term debt, allowing us to devote our financial resources to providing a quality education for our students. We are also grateful for our citizens' approval of the Ed-SPLOST V capital financing initiative that will enable the financing of new schools for the approximate 2,000 new students projected to enter the District in the next five years and for 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. Contacting the District's Financial Management This financial report is designed to provide a general overview of Cobb County School District's finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to Financial Services Division, Cobb County School District, 440 Glover Street, Marietta, Georgia, 30060.
16
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COBB COUNTY SCHOOL DISTRICT STATEMENT OF NET POSITION JUNE 30, 2019
(amounts expressed in thousands)
ASSETS: Cash and Cash Equivalents Receivables (net of allowance for uncollectibles):
Taxes Intergovernmental 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 Related to Other Post-Employment Benefits
Total Deferred Outflows of Resources
LIABILITIES: Accounts Payable and Other Current Liabilities Accrued Salaries and Benefits Notes Payable Accrued Interest Payable Unearned Revenue Noncurrent Liabilities:
Due Within One Year Due In More Than One Year Net Other Post-Employment Benefits (OPEB) Liability Net Pension Liability
Total Liabilities
DEFERRED INFLOWS OF RESOURCES:
Related to Defined Benefit Pension Plans Related to Other Post-Employment Benefits
Total Deferred Inflows of Resources
NET POSITION: Net Investment in Capital Assets Restricted for:
Capital Projects School Nutrition Services Miscellaneous Grants GNETS Unrestricted (Deficit)
Total Net Position
See accompanying notes to the basic financial statements.
Governmental Activities
$
400,378
21,122 89,024
373 149 3,644
136,711 181,345 10,479 2,021,392 241,562 79,139 (1,111,938) 2,073,380
233,499 34,230 267,729
28,668 75,564 89,110 1,665
897
8,320 10,184 786,663 996,094 1,997,165
59,629 163,179
222,808
1,535,405
104,068
18,247
33
311
(1,536,928)
$
121,136
17
COBB COUNTY SCHOOL DISTRICT STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2019
(amounts expressed in thousands)
GOVERNMENTAL ACTIVITIES
Instruction Pupil Services Instructional Services School and Administrative Services Student Transportation Maintenance and Operations Student Activities
Interest and Fiscal Charges
Total Governmental Activities
Expenses
$ 833,448 37,209 53,378 196,042 61,112 74,614 31,664 871
$ 1,288,338
Program Revenues
Operating Charges Grants and for Services Contributions
Capital Grants and Contributions
$ 1,286 $ 566,190 $
-
23,953
-
2,257
39,668
36,187
-
5,849
2,329
-
32,246
-
-
-
$ 75,529 $ 634,436 $
1,641 36 73
3,900 -
-
5,650
Net (Expense) Revenue
and Changes in Net Position
$ (264,331) (13,220) (51,048)
(116,287) (55,263) (72,285) 582 (871)
$ (572,723)
General Revenues: Taxes: Property Taxes Levied for General Purposes Sales Tax Interest Income
Other
Gain on sale of capital assets
$ 546,318 144,769 6,832 2,882 12,335
Total General Revenues
713,136
Change in Net Position
140,413
Net Position - Beginning of Year
(19,277)
Net Position - End of Year
$ 121,136
See accompanying notes to the basic financial statements.
18
COBB COUNTY SCHOOL DISTRICT BALANCE SHEET GOVERNMENTAL FUNDS
JUNE 30, 2019
(amounts expressed in thousands)
Assets: Cash and Cash Equivalents Receivables (net of allowance for uncollectables): Taxes Intergovernmental Accounts Due from Other Funds Prepaids Inventories Total Assets
General
Special Purpose Special Purpose Local Option Local Option Sales Tax IV Sales Tax V
System Wide/ County-Wide
Building
Nonmajor
Total
Governmental Governmental
Funds
Funds
$ 171,703 $ 89,311 $ 25,159 $
67,211 $ 35,838 $ 389,222
8,733 80,614
356 4,673
149 679 $ 266,907 $
-
12,389
-
-
-
-
-
-
-
-
-
-
89,311 $ 37,548 $
-
-
21,122
-
8,410
89,024
-
17
373
-
166
4,839
-
-
149
-
2,965
3,644
67,211 $ 47,396 $ 508,373
LIABILITIES,DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES:
Liabilities:
Accounts Payable
$ 5,558 $
Accrued Payroll and Payroll Withholdings
48,689
Notes Payable
-
Accrued Employee Benefits
22,346
Accrued Interest Payable
-
Due to Other Funds
166
Unearned Revenue
-
Total Liabilities
76,759
17,150 $ 5,362 $
-
-
-
22,745
-
-
-
1,665
-
-
-
-
17,150
29,772
-$
386 $ 28,456
-
2,788
51,477
66,365
-
89,110
-
1,735
24,081
-
-
1,665
-
4,673
4,839
-
897
897
66,365
10,479
200,525
Deferred Inflows of Resources: Unavailable Revenue - Property Taxes Total Deferred Inflows of Resources
Fund Balances: Nonspendable Restricted Committed Assigned Unassigned Total Fund Balances Total Liabilities, Deferred Inflows of Resources, and Fund Balances
2,484 2,484
-
-
-
-
828 -
66,131 120,705 187,664
$ 266,907 $
-
-
72,161
7,776
-
-
-
-
-
-
72,161
7,776
89,311 $ 37,548 $
-
-
2,484
-
-
2,484
-
2,965
3,793
846
15,626
96,409
-
18,030
18,030
-
296
66,427
-
-
120,705
846
36,917
305,364
67,211 $ 47,396 $ 508,373
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, 2019
(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 due and payable with current financial resources and therefore are not reported in the funds.
Net Pension Liability Deferred Outflows of Resources - Pension Related Items Deferred Inflows of Resources - Pension Related Items
The deferred outflows of resources, deferred inflows of resources, and the net OPEB liability related to the District's pension plan are not due and payable with current financial resources and therefore are not reported in the funds.
Net Other Post-Employment Benefits Liability (OPEB) Deferred Outflows of Resources - OPEB Deferred Inflows of Resources - OPEB
Other long-term assets are not available to pay for current period's expenditures and therefore are unavailable in the funds.
Property Taxes
Internal service funds are used by management to charge the costs of insurance. The assets and liabilities of the internal service funds are included in governmental activities in the statement of net position.
Long-term liabilities are not due and payable in the current period and therefore are not reported as liabilities in the funds. Long-term liabilities at year-end consist of:
Compensated absences
Total Net Position-Governmental Activities
$
305,364
$
2,670,628
(1,111,938)
1,558,690
(996,094)
233,499 (59,629)
(822,224)
(786,663)
34,230 (163,179)
(915,612) 2,484 3,636
(11,202)
$
121,136
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, 2019
(amounts expressed in thousands)
REVENUES: Taxes Intergovernmental Tuition and Fees Interest Income Rentals Athletic Ticket Sales Other
Total Revenues
General
Special Purpose Local Option Sales Tax IV
$ 546,113 $ 545,342 6,473 1,861 2,300
1,102,089
73,096 1,651
2,781
77,528
EXPENDITURES: Current:
Instruction Pupil Services Instructional Services School and Administrative Services Student Transportation Maintenance and Operations Student Activities Capital Outlay Debt Service: Interest
Total Expenditures
765,858 27,645 36,467 112,484 54,246 70,003
6,474
1,073,177
3,948 101,988
237 106,173
Excess (deficiency) of Revenues Over (Under) Expenditures
28,912
(28,645)
Other Financing Sources (Uses): Transfers-In Transfers-Out Proceeds from Sale of Capital Assets Total Other Financing Sources (Uses)
123 (1,607) 19,515 18,031
1,482 -
1,482
Net Change in Fund Balances
46,943
(27,163)
Fund Balances, Beginning of Year
140,721
99,324
Fund Balances, End of Year
$ 187,664 $
72,161
Special Purpose Local Option Sales Tax V
$
71,673
-
-
136
-
-
-
71,809
System Wide/ CountyWide
$
-
-
-
864
-
-
-
864
Nonmajor Governmental
Funds
$
-
88,899
61,670
404
-
3,576
582
155,131
Total Governmental
Funds
$
690,882
635,892
61,670
10,658
1,861
3,576
2,882
1,407,421
2,319 60,337
634 63,290
8,519
(743)
(743)
7,776 -
$
7,776 $
-
24,616
-
8,419
-
18,589
-
71,351
-
1,569
-
1,632
-
31,664
-
1,620
790,474 36,064 55,056 190,102 55,815 71,635 31,664 170,419
-
-
871
-
159,460
1,402,100
864
(4,329)
5,321
(183)
(183)
681
165
846 $
1,977 (1,422)
52 607
(3,722)
40,639
36,917 $
3,582 (3,955) 19,567 19,194
24,515
280,849
305,364
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, 2019
(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 comprised solely of amounts contributed to the plan for the current year. However, in the statement of activities, expenses related to pensions include amounts that do not require the use of current financial resources. This amount represents the difference in the required accounting treatment of pensions and related items.
In the governmental funds, current year expenditures related to OPEB are comprised solely of amounts contributed to the plan for the current year. However, in the statement of activities, expenses related to OPEB include amounts that do not require the use of current financial resources. This amount represents the difference in the required accounting treatment of OPEB and related items.
Revenues in the statement of activities that do not provide current financial resources are considered as unavailable revenues in the governmental funds. Property taxes
$ 24,515
$ 168,130 (85,626)
82,504
38,553
2,206 205
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.
(7,232) 419 (757)
Change in Net Position of Governmental Activities
$ 140,413
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, 2019
(amounts expressed in thousands)
REVENUES: Local State Federal Other
Total Revenues
Budgeted Amounts
Original
Final
$
519,168 $ 528,168
543,513
544,280
6,324
6,324
819
819
1,069,824
1,079,591
Actual Amounts
$ 556,557 539,400 5,942 19,828
1,121,727
Variance With Final Budget
$
28,389
(4,880)
(382)
19,009
42,136
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 School Nutrition Community Service Operations Capial Outlay
Transfers
Total Expenditures
777,654 26,205 13,487 17,580 11,456 77,773 6,270 69,238 53,223 21,355 93 90 3,200
1,077,624
783,484 26,683 23,981 18,309 12,604 69,142 6,663 69,419 55,891 31,738 779 91 2,455 4,125
1,105,364
767,201 27,645 20,556 16,510 12,100 70,791 8,047 70,851 55,013 21,140 475 386 90 2,372 1,607
1,074,784
16,283 (962) 3,425 1,799 504
(1,649) (1,384) (1,432)
878 10,598
304 (386)
1 83 2,518
30,580
Net Change in Fund Balance Fund Balance, Beginning of Year
(7,800) 140,721
(25,773) 140,721
46,943 140,721
72,716 -
Fund Balance, End of Year
$
132,921 $
114,948 $
187,664 $
72,716
See accompanying notes to the basic financial statements.
23
COBB COUNTY SCHOOL DISTRICT STATEMENT OF FUND NET POSITION PROPRIETARY FUNDS JUNE 30, 2019
(amounts expressed in thousands)
Assets: Current Assets:
Cash and Cash Equivalents Total Current Assets
Liabilities: Current Liabilities:
Accounts Payable Claims Payable, due within one year 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
$
11,156
11,156
212 2,702
2 4 2,920
4,600
7,520
$
3,636
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, 2019
(amounts expressed in thousands)
OPERATING REVENUES: Charges for Services
Total Operating Revenues
Governmental Activities
Internal Service Funds
$
8,421
8,421
OPERATING EXPENSES: School and Administrative Services
Total Operating Expenses
Operating Income
Transfers-In
Change in Net Position
Total Net Position, Beginning of Year
8,375 8,375
46 373
419 3,217
Total Net Position, End of Year
$
3,636
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, 2019
(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 to Net Cash Provided by Operating Activities:
Operating Income Adjustments to Reconcile Operating
Income to Net Cash Provided by Operating Activities:
Decrease in Prepaids Increase in Claims Payable Decrease in Accounts Payable Decrease in Accrued Payroll and Payroll Withholdings
Total Adjustments
Net Cash Provided by Operating Activities
See accompanying notes to the basic financial statements.
Governmental Activities
Internal Service Funds
$
8,421
(660)
(6,758)
(683)
320
373 373 693 10,463 11,156
$
46
144 449 (317)
(2) 274
$
320
26
COBB COUNTY SCHOOL DISTRICT STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES FIDUCIARY FUNDS JUNE 30, 2019
(amounts expressed in thousands)
Assets: Cash and Cash Equivalents
Total Assets
Liabilities: Due to Student Groups Payroll Withholdings Payable
Total Liabilities
Agency Funds
$ 36,582 $ 36,582
$
1,647
34,935
$ 36,582
See accompanying notes to the basic financial statements.
27
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A. Reporting Entity
The Cobb County School District (District) was established under the laws of the State of Georgia and operates under the guidance of a school board elected by the voters of Cobb County and has a superintendent appointed by the Board. The Board is organized as a separate legal entity and has the power to levy taxes and issue bonds. Its budget is not subject to approval by any other entity. Accordingly, the District is a primary government and consists of all the organizations that compose its legal entity.
A financial reporting entity consists of a primary government and its component units. A component unit is a legally separate entity that must be included in the reporting entity of a primary government in conformity with generally accepted accounting principles. Based on the guidance of the Governmental Accounting Standards Board (GASB) Statements No. 14 and No. 61, there are no component units combined with the District for financial statement presentation purposes, and the District is not included in any other governmental reporting entity.
B. Basis of Presentation
The District's basic financial statements are collectively comprised of the District-wide financial statements, fund financial statements and the notes to the basic financial statements of the Cobb County School District.
District-wide Statements
The Statement of Net Position and the Statement of Activities display information about the financial activities of the overall District, 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 non-exchange transactions.
The Statement of Activities presents a comparison between direct expenses and program revenues for each function of the District's governmental activities.
Direct expenses are those that are specifically associated with a program or function and, therefore, are clearly identifiable to a particular function. Indirect expenses (expenses of the District related to the administration and support of the District's programs, such as office and maintenance personnel and accounting) are not allocated to programs, except for federal indirect costs allocated to federal grant programs.
28
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Program revenues include charges paid by the recipients of goods or services offered by the programs as well as grants and contributions that are restricted to meeting the operational or capital requirements of a particular program. Revenues that are not classified as program revenues, including all taxes, are presented as general revenues.
Fund Financial Statements
The fund financial statements provide information about the District's funds, 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) accounts for salestax proceeds required to be used for capital outlay for educational purposes as authorized by local referendum.
Special Purpose Local Option Sales Tax V Fund (SPLOST V) accounts for salestax proceeds required to be used for capital outlay for educational purposes as authorized by local referendum.
System Wide/Countywide Building Fund accounts for the proceeds of short-term construction notes used for temporarily financing capital outlay in the SPLOST V fund.
Additionally, the District reports the following fund types:
Special revenue funds account for restricted or committed specific revenues and their related expenditures. Special revenues for the District include various federal and state grants, donations to the District, rental of District facilities, charges for after-school programs, adult high school, and performing arts.
29
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
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.
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. Agency Funds have no measurement focus, but are reported using the accrual method. Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place.
Nonexchange transactions, in which the District gives (or receives) value without directly receiving (or giving) equal value in exchange, include property taxes, sales taxes, grants and donations. On an accrual basis, revenue from property taxes is recognized in the fiscal year for which the taxes are levied. Revenue from sales taxes is recognized in the fiscal year in which the underlying transaction (sale) takes place. Revenue from grants and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied.
The District uses funds to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts.
Governmental funds are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Under this method, revenues are recognized when measurable and available. The District considers all non-grant revenues reported in the governmental funds to be available if they are collected within 60 days after year-end. The District considers all intergovernmental revenues to be available if they are collected within 120 days after year-end. Property taxes, sales taxes, intergovernmental and interest are considered to be subject to accrual. Expenditures are recorded when the related fund liability is incurred, except for principal and interest on general long-term debt, claims and
30
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
judgments, and compensated absences, which are recognized as expenditures to the extent they have matured. Capital asset acquisitions are reported as expenditures in governmental funds. Proceeds of general long-term liabilities and acquisitions under capital leases are reported as other financing sources.
The State of Georgia reimburses the District for teachers' salaries and operating costs through the Quality Basic Education (QBE) Formula Earnings program. State of Georgia law defines the formula driven grant that determines the cost of an academic school year and the State of Georgia's share in this cost. Generally, teachers are contracted for the school year (July 1 June 30) and paid over a twelve-month contract period, generally September 1 through August 31. In accordance with the requirements of the 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, 2019
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, 2019, have a maturity date of less than three months.
Investments made by the District in nonparticipating interest-earning contracts (such as certificates of deposit) and repurchase agreements are reported at cost. Both participating interest-earning contracts and money market investments with a maturity at purchase greater than one year are reported at fair value. Investment income is reported in the fund containing the invested assets which generated the income. The Official Code of Georgia Annotated Section 36-83-4 authorizes the District to invest its funds. In selecting among options for investment or among institutional bids for deposits, the highest rate of return shall be the objective, given equivalent conditions of safety and liquidity. Funds may be invested in the following:
(1) Obligations issued by the State of Georgia or by other States,
(2) Obligations issued by the United States government,
(3) Obligations fully insured or guaranteed by the United States government or a United States government agency,
(4) Obligations of any corporation of the United States government,
(5) Prime banker's acceptances,
(6) The Local Government Investment Pool administered by the State Treasurer of the State of Georgia.
(7) Repurchase agreements, and,
(8) Obligations of other political subdivisions of the State of Georgia.
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
32
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
asset or revenue recognition criteria has been met. Intergovernmental and Taxes Receivables at June 30, 2019 were as follows:
(amounts expressed in thousands)
Federal Receivables State / Local Receivables Intergovernmental Receivables
General Fund
Nonmajor Governmental
Total
$
-$
80,614
$ 80,614 $
7,817 $ 593
8,410 $
7,817 81,207 89,024
Taxes Receivables Allowances Net Taxes Receivables
Special
General Fund
Purpose Local Option Sales
Tax IV
Total
$ 9,916 $ 12,389 $
22,305
(1,183)
-
(1,183)
$ 8,733 $ 12,389 $
21,122
G. Property Taxes
The Cobb County Board of Commissioners fixed the property tax levy for the 2018 tax digest year (calendar year) in July 2018 (levy date) based on property values as of January 1, 2018. Taxes were due on October 15, 2018 (lien date). Taxes collected within the current fiscal year or within 60 days after year-end on the 2018 tax digest are reported as revenue in the governmental funds for fiscal year 2019. 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, 2019 totaled $546,113,000.
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 2018 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, 2019
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 $725,348,574 has been collected or on December 31, 2023, whichever occurs first.
I. Tax Abatements
Cobb County, through the Development Authority of Cobb County, allows for taxable revenue bond financing, pursuant to the Georgia Development Authorities Law, under Title 36 Chapter 62 of the Official Code of Georgia, in order to promote the creation of jobs and stimulate development activity within Cobb County. The taxable revenue bond financings result in the reduction of ad valorem (real and/or personal property) taxes.
The County offers a reduction in property taxes through the structure of these financing arrangements. Specifically, the Development Authority of Cobb County, a tax-exempt public organization created independently from the County, may enter into agreements with private individuals or entities in order to incentivize these businesses to build, relocate, expand, or renovate in Cobb County. The agreements involve a bond issuance and saleleaseback transaction, whereby the Development Authority takes title to property and leases it back to the company. The business or individual is responsible for making ad valorem tax payments on its leasehold interest. The rental payments for the leasehold offset the debt service on the bonds over a fixed 10-year term, so that at the end of the incentive period, the bonds are fully retired and the company regains title of the property through an option to purchase.
The Development Authority considers the fiscal impacts of a proposed project and weighs such benefits against the costs of reduced revenue impacts when considering whether to enter into a taxable revenue-bond deal with an individual or entity. Generally, eligible projects involve a commitment of significant capital investment and/or the creation of net new jobs to the County, which propose a favorable return on investment for the County. There are no additional commitments other than to provide favorable tax treatment. There are provisions for recapturing some portion of the value of these incentives in the event capital investment and job creation numbers are not met during the incentive period; however, the Development Authority can immediately return title to a company for a nonperforming project, which cancels the incentive going forward. There are no amounts receivable from other governments.
For the fiscal year ended June 30, 2019, the tax abatement programs noted above abated property taxes due to the School District that were levied on January 1, 2018 and due on October 15, 2018 totaling $2,362,087. Included in the amount abated, the following are
34
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
individual tax abatement agreements that each exceeded 10 percent of the total amount abated:
Tax Abatement Project Genuine Parts Home Depot USA - Real Home Depot USA HighWoods Realty LP Akers 75, LLC
% Abated 90 90 80 90
100
Amount of Taxes Abated
$
269,136
359,330
449,518
516,424
316,278
J. 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.
K. Prepaid Items
Payments made to vendors for services that will benefit periods subsequent to June 30, 2019, are recorded as prepaid, according to the consumption method.
L. Capital Assets
Capital assets purchased, including capital outlay costs, are recorded as expenditures in the fund financial statements at the time of purchase. On the District-wide financial statements, all purchased capital assets are valued at cost where historical records are available and at estimated historical cost based on appraisals or deflated current replacement cost where no historical records exist. Donated capital assets are recorded at estimated acquisition value on the date donated. Disposals are deleted at depreciated recorded cost. The cost of normal maintenance and repairs that do not add to the value of assets or materially extend the useful lives of the assets is not capitalized. Depreciation is computed using the straight-line method.
35
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
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
$25,000
20 to 50 Years
Equipment
$10,000
5 to 10 Years
Intangible Assets
$1,000,000
10 Years
Library Books and Textbooks
All
5 Years
Depreciation expense is used to allocate the actual or estimated historical cost of all capital assets over estimated useful lives.
M. Deferred Outflows/Inflows of Resources
Deferred outflows of resources represent a consumption of net position that applies to a future period(s) and 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 and OPEB (described in Note 1.N, Note 1.O, Note 14 and Note 15), Cobb County School District measures unavailable revenue, which arises under a modified accrual basis of accounting and qualifies for reporting in this category. Accordingly, unavailable revenue is reported only in the governmental funds balance sheet. Governmental funds report unavailable revenues from one source: property taxes. These amounts are deferred and recognized as inflows of resources in the period that the amounts become available.
The District reports a deferred outflow of resources for employer contributions made to the pension and OPEB plan subsequent to the measurement date, as these will be recognized as a reduction to the District's net pension liability and net OPEB liability in the year ended June 30, 2020. The District also reports deferred outflows of resources and deferred inflows of resources for experience gains or losses, assumption changes, and for the change in the District's proportionate share based on actual contributions towards the pension and OPEB plans, which are amortized into pension and OPEB expense over the expected remaining service lives of plan members. Finally, the District reports deferred outflows of resources and deferred inflows of resources for the net difference between projected and actual earnings on pension and OPEB investments. These items will be amortized against pension and OPEB expense over a five year period.
36
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
N. Pensions
For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the Teachers Retirement System of Georgia (TRS) and additions to/deductions from TRS's fiduciary net position have been determined on the same basis as they are reported by TRS. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.
For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the Public School Employees Retirement System (PSERS) and additions to/deductions from PSERS's fiduciary net position have been determined on the same basis as they are reported by PSERS. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.
O. Other Postemployment Benefits (OPEB)
For purposes of measuring the net OPEB liability (asset), deferred outflows of resources and deferred inflows of resources related to OPEB and OPEB expense, information about the fiduciary net position of the Georgia School Employees Postemployment Benefit Fund (School OPEB Fund) and additions to/deductions from the School OPEB Fund's fiduciary net position have been determined on the same basis as they are reported by the School OPEB Fund. For this purpose, benefit payments are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.
P. Net Position
The School District's net position in the District-wide Statements are classified as follows:
Net investment in capital assets This represents the School District's total investment in capital assets, net of outstanding debt obligations, as applicable, related to those capital assets. To the extent debt has been incurred but not yet expended for capital assets, such amounts are not included as a component of net investment in capital assets.
Restricted net position These amounts represent resources for which the School District is legally or contractually obligated to spend resources for capital projects and support of Federal Programs in accordance with restrictions imposed by external third parties.
37
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Unrestricted net position Unrestricted net position represents resources derived from property taxes, sales, taxes, grants and contributions not restricted to specific programs, charges for services, and miscellaneous revenues. These resources are used for transactions relating to the educational and general operations of the School District, and may be used at the discretion of its Board to meet current expenses for those purposes.
Q. 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 must be used for specific purposes pursuant to a formal action of the Board of Education through a majority vote by June 30. Only the Board may modify or rescind the commitment, through resolution by the Board of Education.
4) Assigned Fund Balance - Amounts that are intended by the Board of Education for specific purposes, but are neither restricted nor committed. The Board of Education can choose to delegate this authority. The Board and the Chief Financial Officer have the authority to assign fund balances.
5) Unassigned Fund Balance - Residual spendable fund balance after subtracting all above amounts. Positive unassigned values are only reported in the General Fund.
38
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
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 majority vote prior to the District's fiscal year-end. Likewise, future modification or rescission of committed funds must be accomplished by a formal majority vote of the Board of Education prior to fiscal year-end. Pursuant to the requirements of GASB Statement No. 54, the Board of Education, on June 8, 2011, committed substantially all of the revenue received by the following Special Revenue funds to be used exclusively for each respective program's expenditures.
Special Revenue Fund Donations
Facility Use / Public Safety
After School Program
Performing Arts / Art Career and Cultural
Tuition School / Adult High School Local Schools
Revenue Source Donations by individuals or organizations to
benefit school programs. User rental fees and student parking permit
fees. Funds earned or donated at local schools used by local principals to benefit students
and faculty subject to District policy. Voluntary student contributions to fund Performing Arts Programs and donations to fund artist workshops at local schools.
User tuition charges and GED fees. Funds earned or donated at local schools used by local principals to benefit students
and faculty subject to District policy.
Assigned Fund Balances The District's Board of Education, through resolution, delegates to the Superintendent, through the Chief Financial Officer, the authority to assign funds for particular purposes.
Spending Prioritization When expenditures are incurred by the District that would qualify for payment with either restricted or unrestricted funds, they will be paid from restricted funds. When an expenditure is incurred that qualifies for payment from either of the three unrestricted fund balance categories, it will be applied in the following order:
1) Committed 2) Assigned 3) Unassigned
39
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
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:
Special Purpose Special Purpose System Nonmajor
Local Option Local Option Wide/ Governmental
General Fund Sales Tax IV Sales Tax V Countywide Funds
Total
Nonspendable: Inventory Prepaids
$ 679,000 149,000
$ 2,965,000 $ 3,644,000 $ 149,000
Restricted for: Capital Projects School Nutrition Miscellaneous Grants GNETS
$ 72,161,000 $ 7,776,000 $ 846,000
15,282,000 33,000 311,000
$ 80,783,000 $ 15,282,000 $ 33,000 $ 311,000
Committed to: Donations for the Benefit of School Programs Facility Use and Public Safety Programs Performing Arts and Art Career and Cultural Tuition School / Adult High School After School Program Local School Activities
302,000 1,287,000
277,000 2,099,000 4,120,000 9,945,000
$ 302,000 $ 1,287,000 $ 277,000 $ 2,099,000 $ 4,120,000 $ 9,945,000
Assigned to: Appropriation for Next Year's Budget Instruction Pupil Services Instructional Services School and Administrative Services Student Transportation Maintenance and Operations Capital Outlay Districtwide
18,700,000 11,899,000
346,000 1,208,000 9,524,000
525,000 514,000 23,415,000
296,000
$ 18,700,000 $ 11,899,000 $ 346,000 $ 1,208,000 $ 9,524,000 $ 525,000 $ 514,000 $ 23,415,000 $ 296,000
Unassigned:
120,705,000
$ 120,705,000
Total Fund Balance
$ 187,664,000 $ 72,161,000 $ 7,776,000 $ 846,000 $ 36,917,000 $ 305,364,000
40
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 2. LEGAL COMPLIANCE BUDGETS
The Board of Education budgets its operations on an annual basis for the General Fund and for all Special Revenue Funds except the Local Schools Fund. Capital Projects Funds are budgeted on a multi-year, project-length basis. Prior to July 1 each year, the administration of the District submits a proposed budget to the Board of Education, which conducts public hearings and legally adopts the budget. The administration then submits the adopted budget to the Georgia Department of Education for final approval.
The District prepares its annual budget using the budgetary basis of accounting, which differs from generally accepted accounting principles in the United States of America (GAAP) as allowed by the State of Georgia. Under the budgetary basis of accounting, the District does not budget for other financing sources and uses, but rather budgets those as revenues and current expenditures of the funds. Appropriations not spent or encumbered lapse at year-end and encumbrances outstanding at that time are rebudgeted in the following fiscal year. Budget amendments that are funded through a decrease in fund balance must be approved by the Board of Education. All other budget amendments may be approved by the Superintendent or his designee.
The level of legal budgetary control (the level at which expenditures may not exceed appropriations) is at the function level within individual funds. The District makes certain reclassification of revenues and expenditures presented on a budgetary basis conform to GAAP basis financial statements. Several supplementary appropriations were necessary during the fiscal year ended June 30, 2019.
The District's budgetary statements for the General Fund differ somewhat from generally accepted accounting principles (GAAP) prepared statements. The dollar effect for these differences are detailed in the following reconciliation for the year-end net change in fund balance (budgetary basis) to the year-end net change in fund balance (GAAP basis):
Reconciliation of GAAP to Budget Basis
General Fund
Actual Revenues GAAP Basis Other Financing Sources budgeted as revenues Budgeted Revenues, Budgetary Basis
$ 1,102,089,000 19,638,000
1,121,727,000
Actual Expenditures GAAP Basis Other Financing Uses budgeted as expenditures Budgetary Expenditures, Budgetary Basis
1,073,177,000 1,607,000
1,074,784,000
Net Change in Fund Balance, Budgetary Basis
$
46,943,000
Net Change in Fund Balance, GAAP Basis
$
46,943,000
41
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 2. LEGAL COMPLIANCE BUDGETS (Continued)
For the year ended June 30, 2019, 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:
Fund/Function
Overexpenditure
General Fund:
Pupil Services
$
School Administration
Business Services
Maintenance and Operation of Plant
School Nutrition
Donations:
Other Support Services
Facility Use/Public Safety:
Instruction
Maintenance and Operation of Plant
After School Program:
Instruction
Pupil Services
Tuition School/Adult High School:
Maintenance and Operation of Plant
Miscellaneous Grants:
Improvement of Instructional Services
Adult Education:
Instruction
Special Education:
Instruction
Homeless Grant:
Pupil Services
Title III:
Instruction
Title IV:
Other Support Service
962,000 756,000 1,384,000 1,432,000 386,000
13,000
394,000 51,000
374,000 16,000
13,000
28,000
507,000
625,000
2,000
25,000
3,000
42
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
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. State statutes also allow deposits and investments (other than federal or state government instruments) amounts that exceed standard depository insurance limits to be collateralized by participation in the State of Georgia Secure Deposit Program. As of June 30, 2019, the financial institution holding some of the District's deposits is a participant in the State of Georgia Secure Deposit Program, which is administered by the Office of the State Treasurer, requires participating banks holding deposits of public funds to pledge collateral at varying rates depending on the tier assigned by the State.
Acceptable security for deposits consists of any one of or any combination of the following:
(1) Surety bond signed by a surety company duly qualified and authorized to transact business within the State of Georgia,
(2) Insurance on accounts provided by the Federal Deposit Insurance Corporation,
(3) Bonds, bills, notes, certificates of indebtedness or other direct obligations of the United States or of the State of Georgia,
(4) Bonds, bills, notes, certificates of indebtedness or other obligations of the counties or municipalities of the State of Georgia,
(5) Bonds of any public authority created by the laws of the State of Georgia, providing that the statute that created the authority authorized the use of the bonds for this purpose,
(6) Industrial revenue bonds and bonds of development authorities created by the laws of the State of Georgia, and
43
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 3. CASH EQUIVALENTS, DEPOSITS AND INVESTMENTS (Continued)
(7) Bonds, bills, notes, certificates of indebtedness, or other obligations of a subsidiary corporation of the United States government, which are fully guaranteed by the United States government both as to principal and interest or debt obligations issued by the Federal Land Bank, the Federal Home Loan Bank, the Federal Intermediate Credit Bank, the Central Bank for Cooperatives, the Farm Credit Banks, the Federal Home Loan Mortgage Association, and the Federal National Mortgage Association.
Cash Equivalents and Deposits
Cash equivalents consist of bank checking, savings, money-market accounts, and certificate of deposits.
Custodial credit risk-deposits and investments
Custodial credit risk is the risk that in the event of bank failure, the District's cash equivalents and deposits may not be returned to the District. At June 30, 2019, the District had deposits with a carrying amount of $151,448,537 and a bank balance of $152,114,068. The bank balance was covered entirely by Federal depository insurance, by collateral held by the District or the District's agent in the District's name, or by a multiple financial institution collateral pool authorized by the State of Georgia that insures public deposits.
The District has no custodial credit risk since there are no uncollateralized or uninsured securities not in the District's name.
Investments
As of June 30, 2019, the District's investments included $285,511,847 in a local government investment pool account called Georgia Fund 1, the combined state general fund and local government investment pool managed by the Office of the State Treasurer. On that date, these funds had a weighted average maturity of 39 days. In addition, the District had $271,045 in certificates of deposit in various financial institutions. These investments are reported as cash equivalents.
The District's investment in Georgia Fund 1, 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 1. Georgia Fund 1, created by OCGA 36-83-8, is a stable asset value investment pool.
44
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 3. CASH EQUIVALENTS, DEPOSITS AND INVESTMENTS (Continued)
Georgia Fund 1's primary objectives are safety of capital, investment income, liquidity and diversification while maintaining principal ($1 per share value). The pool is not registered with the SEC as an investment company. Asset value is calculated weekly to ensure stability. The pool distributes earnings (net of management fees) on a monthly basis and determines participant's shares sold and redeemed based on $1 per share. The pool also adjusts the value of its investments to fair market value as of year-end and the District's investment in the Georgia Fund 1 is reported at fair value. As of June 30, 2019, the District considers amounts held in Georgia Fund 1 as cash equivalents for financial statement presentation.
Fair Value Measurements
Georgia Fund 1 is an investment pool that does not meet the criteria of GASB Statement No. 79 and is thus valued at fair value in accordance with GASB Statement No. 31. As a result, the District does not disclose investment in Georgia Fund 1 within the fair value hierarchy.
Credit Risk
The District's investment policy is to apply the prudent investor rule which states "investments shall be made with judgment and care, under circumstances when prevailing, which persons of prudence, discretion and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the primary objective of safety of capital as well as the objective of obtaining a market rate of return."
The policy of the District is to invest funds with larger banking institutions that are able to collateralize the public funds at 110%. Any bid to purchase securities must be from a broker/dealer who is a member of the NASD and SIPC and have a major presence in the metropolitan area.
Concentration of Credit Risk
Concentration of credit risk is defined as investments of more than 5% in any one issuer. Georgia Fund 1 is excluded from the requirement of disclosing concentration of credit risk.
45
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 3. CASH EQUIVALENTS, DEPOSITS AND INVESTMENTS (Continued) Interest Rate Risk In accordance with its investment policy, the District will minimize interest rate risk, which is the risk that the 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 that have this type of risk. Note 4. NON-MONETARY TRANSACTIONS The District received food commodities from the United States Department of Agriculture (USDA) for school breakfast and lunch programs. See Note 1 Inventories
Remainder of Page Intentionally Left Blank
46
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 5. CAPITAL ASSETS
The following is a summary of changes in the capital assets during the fiscal year:
Governmental Activities
Balance June 30, 2018
Capital Assets, Not Being Depreciated:
Land
$
134,853,000
Construction In Progress
162,340,000
Total Capital Assets Not Being Depreciated
297,193,000
Capital Assets Being Depreciated:
Buildings and Improvements
1,954,597,000
Intangibles
7,449,000
Equip ment
207,082,000
Library /T ext books
73,783,000
Total Capital Assets Being Depreciated
2,242,911,000
Less Accumulated Depreciation for:
Buildings and Improvements
862,905,000
Intangibles
3,176,000
Equip ment
136,659,000
Library /T ext books
53,946,000
Total Accumulated Depreciation
1,056,686,000
Increases
$ 2,408,000 110,633,000 113,041,000
88,653,000 3,030,000
43,858,000 11,176,000 146,717,000
52,376,000 1,352,000 23,782,000 8,116,000 85,626,000
Decreases
Balance June 30, 2019
$
(550,000) $ 136,711,000
(91,628,000)
181,345,000
(92,178,000)
318,056,000
(21,858,000) -
(9,378,000) (5,820,000) (37,056,000)
2,021,392,000 10,479,000 241,562,000 79,139,000
2,352,572,000
(15,295,000) -
(9,259,000) (5,820,000) (30,374,000)
899,986,000 4,528,000
151,182,000 56,242,000
1,111,938,000
Total Capital Assets Being Depreciated Net
1,186,225,000
Governmental Capital Assets,Net
$ 1,483,418,000
61,091,000 $ 174,132,000
(6,682,000)
1,240,634,000
$ (98,860,000) $ 1,558,690,000
47
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 5. CAPITAL ASSETS (Continued)
Current year depreciation expense by function for governmental activities is as follows:
Instruction
$
Pupil Services
School and Administrative Services
Pupil Transportation
Maintenance and Operations
$
73,373 2,435 2,687 5,625 1,506
85,626
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 $4,673,000 receivable due
to the General Fund from various nonmajor governmental funds was primarily for the
financing of federal and state grant expenditures whose reimbursements were pending at
year-end, as detailed below. The $166,000 receivable due to Local Schools from the
General Fund largely represented local school excess cash reserves invested with interest,
net of the interfund payable. Interfund receivable and payable balances by fund as of June
30, 2019 are disclosed in the following schedule:
Re ce ivable
Payable
Governmental Funds:
General Fund
$ 4,673,000 $ 166,000
Nonmajor Governmental Funds: Miscelleous Grants Adult Education GNETS Title I Special Ed Federal Grant Vocational Education Title II Homeless Grant Title III Title IV Local Schools Total Nonmajor Governmental Funds
166,000 166,000
89,000
1,802,000 1,718,000
411,000
4,000 73,000 576,000
4,673,000
Total
$ 4,839,000 $ 4,839,000
48
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 7. INTERFUND TRANSFERS
Interfund transfers are used to (1) move revenues from the fund that statute or budget requires to collect them to the fund that statute or budget requires to expend them and (2) to use unrestricted revenues in the general fund to finance various programs accounted for in other funds in accordance with budgetary authorizations. The transfer amount from the General Fund to the Countywide Building Fund was for the purchase of 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 transfer into the General Fund from nonmajor governmental funds represents excess uncommitted revenue above program expenditures that was moved to benefit the various instructional and support services of the District.
Interfund transfers for the year ended June 30, 2019, consisted of the following:
Transfers Out:
General Fund: General Fund General Fund General Fund Total General Fund
Transfers In:
Facility Use / Public Safety Fund Tuition School / Adult High School Fund Self-Insurance Fund
Amount
955,000 279,000 373,000 $ 1,607,000
Major Governmental Funds: Special Purpose Local Option Sales Tax V System Wide/County-Wide Total Major Governmental Funds
District Building Fund Special Purpose Local Option Sales Tax IV
$
743,000 183,000 926,000
Nonmajor Governmental Funds: Facility Use / Public Safety Fund Special Purpose Local Option Sales Tax III Total Nonmajor Governmental Funds
General Fund Special Purpose Local Option Sales Tax IV
123,000 1,299,000 $ 1,422,000
Total for All Funds
$ 3,955,000
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. The District has not had any significant reductions in insurance coverage from coverage in the prior year.
49
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 8. RISK MANAGEMENT (Continued)
Premiums are paid into Internal Service funds by user funds and are available to pay claims and administrative costs of the program and establish claim reserves. These interfund premiums are recognized as revenue in the internal service funds. Actuarial analysis provides estimated ultimate losses for workers compensation and automobile liability, which are converted to present value using an interest rate of 3%.
Estimated claims for the next fiscal year total $2,702,000 and the non-current liability for succeeding years is $4,600,000. 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
2018 $
7,770,000 $ 3,112,000 $ (4,029,000) $ 6,853,000
2019 $
6,853,000 $ 5,124,000 $ (4,675,000) $ 7,302,000
Note 9. SHORT-TERM NOTES
In January 2019, the District issued $89,110,000 in revenue-anticipation notes to be applied to the current expenses of constructing, equipping and upgrading various school facilities and improvements as voted upon by District stakeholders in the Special Purpose Local Option Sales Tax referendum on March 21, 2017. The short-term construction notes bear an interest rate of 3.0% with a maturity date of December 18, 2019. The District will repay the notes with proceeds from the local option sales tax collected in calendar year 2019. If the proceeds are not sufficient to pay the entire principal and interest on the notes, property taxes within the 20 mil limitation prescribed by law may be levied upon all taxable property within Cobb County and immediately due. The principal and interest payment on December 18, 2019, will total $91,471,415.
The following represents the activity related to short-term notes during fiscal year ended June 30, 2019.
Beginning Balance $ 40,000,000 $ 40,000,000
Additions $ 89,110,000 $ 89,110,000
Deletions $ (40,000,000) $ (40,000,000)
Ending Balance $ 89,110,000 $ 89,110,000
50
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 10. COMPENSATED ABSENCES
It is the District's policy to allow employees to accumulate earned but unused vacation benefits. Employees are compensated for qualifying vacation benefits upon termination of their employment with the District. A liability for these vacation benefits are accrued and includes social security, medicare, and workers compensation. Employees are not compensated for sick leave benefits upon termination of their employment. Therefore, no liability is reported for earned but unused sick leave benefits.
Note 11. LONG-TERM OBLIGATIONS
Fiscal year 2019 long-term obligations are as follows:
Accrued Vacation Pay Net OPEB Liabilit y Net Pension Liabilit y Total
Balance 6/30/2018
Increases
Decreases
Balance 6/30/2019
Current Amounts Due Within One
Year
Long-term Amounts Due After One Year
$ 10,445,000 $ 5,995,000 $
5,238,000 $ 11,202,000 $
5,618,000 $ 5,584,000
$ 879,418,000 $ 31,767,000 $ 124,522,000 $ 786,663,000 $
- $ 786,663,000
$ 1,028,202,000 $ 128,233,000 $ $ 1,918,065,000 $ 165,995,000 $
160,341,000 $ 996,094,000 $ 290,101,000 $ 1,793,959,000 $
- $ 996,094,000 5,618,000 $ 1,788,341,000
Accrued vacation pay, pension, and OPEB obligations are largely liquidated by the General Fund.
Note 12. ON-BEHALF PAYMENTS
The State of Georgia makes certain health insurance and pension plan payments on behalf of the District for its employees. The District records these payments as both a revenue and expenditure in the General Fund. The total of the on-behalf payments for the fiscal year ended June 30, 2019 was $1,801,792.
51
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 13. COMMITMENTS AND CONTINGENCIES
The District makes various contractual commitments on an ongoing basis for construction and remodeling of its capital assets. The major outstanding commitments as of June 30, 2019, included additions and renovations at two elementary school, four high schools and one central office location. As of June 30, 2019, the contract price and expenditures to date for the largest projects were as follows:
Project
Contract Price
Expenditures To Date
Additions/Modifications 514 Glover Street Additions/Modifications Lassiter HS New Replacement School Harmony Leland New Replacement School King Springs New Replacement School Cobb Career New Replacement School Osborne HS New Replacement School Walton HS
$ 22,879,539 16,844,389 28,501,350 33,862,993 15,820,852 53,545,415 37,700,803
$ 1,615,940 10,363,214 8,244,978 3,833,816 2,254,781 22,051,077 31,474,479
The District participates in numerous state and federal grant programs, which are governed by various rules and regulations of the grantor agencies. Costs charged to the respective grant programs are subject to audit and adjustment by the grantor agencies; therefore, to the extent that the District has not complied with the rules and regulations governing the grants, refunds of any money received may be required. In addition, the collectability of any related receivable at June 30, 2019, may be impaired. In the opinion of the District, there are no significant contingent liabilities relating to compliance with the rules and regulations governing the respective grants; for this reason, no provision has been recorded in the accompanying combined financial statements for such contingencies.
The District is a defendant in various lawsuits. Although the outcome of these lawsuits is not presently determinable, in the opinion of the District's attorney and management, the resolution of these matters will not have a material adverse effect on the financial condition of the District.
52
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 14. RETIREMENT PLANS
Teachers Retirement System of Georgia (TRS)
Plan Description
Substantially all teachers, administrators and clerical personnel are members of this costsharing multiple-employer defined benefit public employee retirement system. TRS was created in 1943 by an act of the Georgia General Assembly and is administered by a ten member Board of Trustees. TRS is funded by a combination of employee, employer and State of Georgia contributions. Benefits are established and may be amended by State statute and provide retirement, death, long-term disability, survivor and health insurance premium benefits. TRS issues a publicly available financial report that can be obtained at www.trsga.com/publications.
Benefits Provided
TRS retirement benefits are determined as 2 % of the average of the employee's two highest paid consecutive years of service, multiplied by the number of years of creditable service up to 40 years. An employee is eligible for normal service retirement after 30 years of creditable service, regardless of age, or after 10 years of service and attainment of age 60. Ten years of service is required for disability and death benefits eligibility. Disability benefits are based on the employee's creditable service and compensation up to the time of disability. Death benefits equal the amount that would be payable to the employee's beneficiary had the employee retired on the date of death. Death benefits are based on the employee's creditable service and compensation up to the date of death.
Contributions
Per Title 47 of the O.C.G.A., contribution requirements of active employees and participating employers, as actuarially determined, are established and may be amended by the TRS Board. Pursuant to O.C.G.A. 47-3-63, the employer contributions for certain full- time public school support personnel are funded on behalf of the employer by the State of Georgia. Contributions are expected to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. Plan members are currently required to contribute 6.00 percent of their annual covered payroll and the District is currently required to contribute 20.90 percent of the covered payroll. The District's contributions to TRS for the year ended June 30, 2019 was $137,423,253.
53
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 14. RETIREMENT PLANS (Continued)
Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions
At June 30, 2019, 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
$ 996,094,472
State of Georgia's proportionate share of the net pension liability associated with the District
249,290
Total
$ 996,343,762
The net pension liability was measured as of June 30, 2018. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2017. An expected total pension liability as of June 30, 2018 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, 2018. At June 30 2018, the District's proportion was 5.366269%, which was a decrease of 0.166070% from its proportion measured as of June 30, 2017.
For the year ended June 30, 2019, the District recognized pension expense of $98,870,837 and revenue of $143,622 for support provided by the State of Georgia for certain support personnel. At June 30, 2019, the District reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:
54
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 14. RETIREMENT PLANS (Continued)
Differences between expected and actual experience
De fe rre d Outflows of Re s ource s
$ 65,942,860
De fe rre d Inflows of Re s ource s
$ 2,052,974
Changes of Assumptions
15,030,705
-
Net difference between projected and actual earnings on pension plan investments
-
27,235,157
Changes in proportion and differences between District contributions and proportionate share of contributions
15,102,559
30,341,103
District contributions subsequent to the measurement date
137,423,253
-
Total
$ 233,499,377 $ 59,629,234
District contributions subsequent to the measurement date of $137,423,253 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, 2020. 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: 2020 2021 2022 2023 2024
Total
$ 50,521,867 24,636,125 (32,732,948) (6,343,717) 365,563
$ 36,446,890
55
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 14. RETIREMENT PLANS (Continued)
Actuarial assumptions: The total pension liability as of June 30, 2018 was determined by an actuarial valuation as of June 30, 2017 using the following actuarial assumptions, applied to all periods included in the measurement:
Inflation Salary increases Investment rate of return
2.75% 3.25-9.00%, average, including inflation 7.50%, net of pension plan investment expense including inflation
Post-retirement mortality rates were based on the RP-2000 White Collar Mortality Table with future mortality improvement projected to 2025 with the Society of Actuaries' projection scale BB (set forward one year for males) for service retirements and depended beneficiaries. The RP-2000 Disable Mortality Table with future mortality improvement projected to 2025 with Society of Actuaries' projection scale BB (set forward two years for males and four years for females) was used for death after disability retirement. Rates of mortality in active service were based on the RP-2000 Employee Mortality Table projected to 2025 with projection scale BB.
The actuarial assumptions used in the June 30, 2017 valuation were based on the results of an actuarial experience study for the period July 1, 2009 June 30, 2014.
The long-term expected rate of return on pension plan investments was determined using a 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:
56
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 14. 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 $ 1,662,766,891
Current discount rate
(7.5%)
$ 996,094,472
1% Increase (8.5%)
$ 446,722,468
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, 2019, the District reported a payable of $14,653,594 for the outstanding amount of contributions to the TRS pension plan required for the year ended June 30, 2019.
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.
57
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 14. RETIREMENT PLANS (Continued)
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 $15.00, multiplied by the number of years of creditable service. Death and disability benefits are also available through PSERS. Additionally, PSERS may make periodic cost-of-living adjustments to the monthly benefits. Upon termination of employment, member contributions with accumulated interest are refundable upon request by the member. However, if an otherwise vested member terminates and withdraws his/her member contribution, the member forfeits all rights to retirement benefits.
Funding Policy
The general assembly makes an annual appropriation to cover the employer contribution to PSERS on behalf of local school employees (bus drivers, cafeteria workers, and maintenance staff). The annual employer contribution required by statute is actuarially determined and paid directly to PSERS by the State Treasurer in accordance with O.C.G.A. 47-4-29(a) and 60(b). Contributions are expected to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability.
Plan members who became members prior to July 1, 2012 contribute $4 per month for nine months each fiscal year. Individuals who became members on or after July 1, 2012 contribute $10 per month for nine months each fiscal year. The State of Georgia, although not the employer of PSERS members, is required by statute to make employer contributions actuarially determined and approved and certified by the PSERS Board of Trustees. The District does not make an annual contribution to PSERS.
Employees who are covered by PSERS are eligible to participate in a supplemental defined contribution plan. If the employee contributes 1% of salary to the 403b plan administered by VALIC, s/he will receive a contribution equal to 2% of salary each month to match, for a total contribution of 3% of salary. The District's contributions to the supplemental defined contribution plan for the year ended June 30, 2019 was $473,485 with an average number of participants of 971.
58
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 14. RETIREMENT PLANS (Continued)
Pension Liabilities and Pension Expense
At June 30, 2019, 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
$9,991,697
The net pension liability was measured as of June 30, 2018. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2017. An expected total pension liability as of June 30, 2018 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, 2018.
For the year ended June 30, 2019, the District recognized pension expense of $2,313,441 and revenue of $2,313,441 for support provided by the State of Georgia.
Actuarial assumptions: The total pension liability was determined by an actuarial valuation as of June 30, 2017, using the following actuarial assumptions, applied to all periods included in the measurement:
Inflation Salary increases Investment rate of return
2.75% N/A 7.30%, net of pension plan investment expense, including inflation
Post-retirement mortality rates were based on the RP-2000 Combined Mortality Table projected to 2025 with projection scale BB (set forward 3 years for males and 2 years for females) for the period after service retirements and for dependent beneficiaries. The RP2000 Disabled Mortality Table projected to 2025 with projection scale BB (set forward 5 years for both males and females) was used for death after disability retirement. There is a margin for future mortality improvement in the tables used by the System. Based on the results of the most recent experience study adopted by the Board on December 17, 2015, the numbers of expected future deaths are 9-11% less than the actual number of deaths that occurred during the study period for healthy retirees and 9-11% less than expected under the selected table for disabled retirees. Rates of mortality in active service were based on the RP-2000 Employee Mortality Table projected to 2025 with projection scale BB.
59
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 14. RETIREMENT PLANS (Continued)
The actuarial assumptions used in the June 30, 2017 valuation were based on the results of an actuarial experience study for the period July 1, 2009 June 30, 2014.
The long-term expected rate of return on pension plan investments was determined using a log-normal distribution analysis in which best-estimate ranges of expected future real rates of return (expected nominal returns, net of pension plan investment expense and the assumed rate of inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table:
Asset class
Target allocation
Long-term expected real rate of return*
Fixed income Domestic large equities Domestic mid equities Domestic small equities International developed market equities International emerging market equities Alternatives
Total
30.00% 37.20
3.40 1.40 17.80 5.20 5.00 100.00%
(0.50)% 9.00 12.00 13.50 8.00 12.00 10.50
* Rates shown are net of the 2.75% assumed rate of inflation
Discount rate: The discount rate used to measure the total pension liability was 7.30%. 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.
60
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 15. OTHER POST EMPLOYMENT BENEFITS (OPEB)
Plan Description
The District participates in the State of Georgia School Employees Postemployment Benefit Fund (the School OPEB Fund) which is another postemployment benefit (OPEB) plan administered by the State of Georgia Department of Community Health (DCH). Certified teachers and non-certified employees of the District as defined in 20-2-875 of the Official Code of Georgia Annotated (O.C.G.A.) are provided OPEB through the School OPEB Fund - a cost-sharing multiple-employer defined benefit postemployment healthcare plan, reported as an employee trust fund of the State of Georgia and administered by a Board of Community Health (DCH Board). Title 20 of the O.C.G.A. assigns the authority to establish and amend the benefit terms of the group health plan to the DCH Board. The School OPEB Fund is included in the State of Georgia Comprehensive Annual Financial Report which is publicly available and can be obtained at https://sao.georgia.gov/comprehensive-annual-financialreports.
Benefits
The School OPEB Fund provides healthcare benefits for retirees and their dependents due under the group health plan for public school teachers, including librarians, other certified employees of public schools, regional educational service agencies, and non-certified public school employees. Retiree medical eligibility is attained when an employee retires and is immediately eligible to draw a retirement annuity from Employees' Retirement System (ERS), Georgia Judicial Retirement System (JRS), Legislative Retirement System (LRS), Teachers Retirement System (TRS) or Public School Employees Retirement System (PSERS). If elected, dependent coverage starts on the same day as retiree coverage. Medicare-eligible retirees are offered Standard and Premium Medicare Advantage plan options. Non-Medicare eligible retiree plan options include Health Reimbursement Arrangement (HRA), Health Maintenance Organization (HMO) and a High Deductible Health Plan (HDHP). The School OPEB Fund also pays for administrative expenses of the fund. By law, no other use of the assets of the School OPEB Fund is permitted.
Contributions
As established by the Board of Community Health, the School OPEB Fund is substantially funded on a pay-as-you-go basis; that is, annual cost of providing benefits will be financed in the same year as claims occur. Contributions required and made to the School OPEB Fund from the District were $33,165,263 for the year ended June 30, 2019. Active employees are not required to contribute to the School OPEB Fund.
61
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 15. OTHER POST EMPLOYMENT BENEFITS (OPEB) (Continued)
OPEB Liabilities, OPEB Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB
At June 30, 2019, the District reported a liability of $786,662,770 for its proportionate share of the net OPEB liability. The net OPEB liability was measured as of June 30, 2018. The total OPEB liability used to calculate the net OPEB liability was based on an actuarial valuation as of June 30, 2017. An expected total OPEB liability as of June 30, 2018 was determined using standard roll-forward techniques. The District's proportion of the net OPEB liability was actuarially determined based on employer contributions to the School OPEB Fund during the fiscal year ended June 30, 2018. At June 30 2018, the District's proportion was 6.189471%, which was a decrease of 0.069751% from its proportion measured as of June 30, 2017.
For the year ended June 30, 2019, the District recognized OPEB expense of $30,959,936. At June 30, 2019, the District reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:
De fe rre d Outflows of Re s ource s
De fe rre d Inflows of Re s ource s
Differences between expected and actual experience
$
-
$ 17,893,480
Changes of Assumptions
-
133,264,458
Net difference between projected and actual
earnings on OPEB plan investments
1,064,351
-
Changes in proportion and differences between District contributions and proportionate share of contributions
-
12,021,393
District contributions subsequent to the measurement date
33,165,263
-
Total
$ 34,229,614 $ 163,179,331
62
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 15. OTHER POST EMPLOYMENT BENEFITS (OPEB) (Continued)
District contributions subsequent to the measurement date of $33,165,263 are reported as deferred outflows of resources and will be recognized as a reduction of the net OPEB liability in the year ended June 30, 2020. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows:
Total
Year ended June 30: 2020 2021 2022 2023 2024 2025
$
(31,434,078)
(31,434,078)
(31,434,078)
(31,497,665)
(26,177,281)
(10,137,800)
$ (162,114,980)
Actuarial assumptions: The total OPEB liability as of June 30, 2018 was determined by an actuarial valuation as of June 30, 2016 using the following actuarial assumptions and other inputs, applied to all periods included in the measurement and rolled forward to the measurement date of June 30, 2018:
Inflation Salary increases Long-term expected rate of return
Healthcare cost trend rate: Pre-Medicare Eligible Medicare Eligible
Ultimate trend rate Pre-Medicare Eligible Medicare Eligible
Year of Ultimate trend rate Pre-Medicare Eligible Medicare Eligible
2.75% 3.25 9.00%, including inflation 7.30%, compounded annually, net of investment expense, and including inflation
7.50% 5.50%
4.75% 4.75%
2028 2022
63
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 15. OTHER POST EMPLOYMENT BENEFITS (OPEB) (Continued)
Mortality rates were based on the RP-2000 Combined Mortality Table for Males or Females, as appropriate, with adjustments for mortality improvements based on Scale BB as follows:
For TRS Members: The RP-2000 White Collar Mortality Table projected to 2025 with projection scale BB (set forward 1 year for males) was used for death after service retirement and beneficiaries. The RP-2000 Disabled Mortality Table projected to 2025 with projection scale BB (set forward 2 years for males and four years for females) was used for death after disability retirement.
For PSERS Members: The RP-2000 Blue Collar Mortality Table projected to 2025 with projection scale BB (set forward 3 years for males and 2 years for females) was used for the period after service retirement and for beneficiaries of deceased members. The RP-2000 Disabled Mortality Table projected to 2025 with projection scale BB (set forward 5 years for both males and females) was used for the period after disability retirement.
The actuarial assumptions used in the June 30, 2017 valuation were based on the results of an actuarial experience study for the pension system, which covered the five-year period ending June 30, 2014.
The remaining actuarial assumptions (eg., initial per capita costs, healthcare cost trends, rate of plan participation, rates of plan election, etc.) used in the June 30, 2017 valuation were based on a review of recent plan experience done concurrently with the June 30, 2017 valuation.
Projection of benefits for financial reporting purposes are based on the substantive plan (the plan as understood by the Board and plan members) and include the types of benefits provided at the time of each valuation and the historical pattern of sharing of benefit costs between the employer and plan members to that point. The actuarial methods and assumptions used include techniques that are designed to reduce the effects of short-term volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long-term perspective of the calculation.
64
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 15. OTHER POST EMPLOYMENT BENEFITS (OPEB) (Continued)
The long-term expected rate of return on OPEB plan investments was determined using a log-normal distribution analysis in which best-estimate ranges of expected future real rates of return (expected nominal returns, net of investment expense and the assumed rate of inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table:
Long-Term Expected 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 Alternatives
Total
30.00% 37.20%
3.40% 1.40% 17.80% 5.20% 5.00% 100.00%
-0.50% 9.00% 12.00% 13.50% 8.00% 12.00% 10.50%
* Net of inflation
Discount rate: The discount rate has changed since the prior measurement date from 3.58% to 3.87%. In order to measure the total OPEB liability for the School OPEB Fund, a single equivalent interest rate of 3.87% was used as the discount rate. This is comprised mainly of the yield or index rate for 20 year tax-exempt general obligation municipal bonds with an average rating of AA or higher (3.87% per the Bond Buyer Index). The projection of cash flows used to determine the discount rate assumed that the current sharing of costs between the employer and the member will continue and that contributions from the employer will be made at the current level as averaged over the last five years, adjusted for annual projected changes in headcount. Projected future benefit payments for all current plan members were projected through 2118. Based on these assumptions, the OPEB plan's fiduciary net position was projected to be available to make OPEB payments for inactive employees through year 2018. Therefore, the calculated discount rate of 3.87% was applied to all periods of projected benefit payments to determine the total OPEB liability.
65
COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2019
Note 15. OTHER POST EMPLOYMENT BENEFITS (OPEB) (Continued)
Sensitivity of the District's proportionate share of the net OPEB liability to changes in the discount rate:
The following presents the District's proportionate share of the net OPEB liability calculated using the discount rate of 3.87%, as well as what the District's proportionate share of the net OPEB liability would be if it were calculated using a discount rate that is 1percentage-point lower (2.87%) or 1-percentage-point higher (4.87%) than the current rate:
District's proportionate share of the net pension liability
1% Decrease (2.87%)
$ 918,575,458
Current Discount Rate
(3.87%)
$ 786,662,770
1% Increase (4.87%)
$ 680,288,988
Sensitivity of the District's proportionate share of the net OPEB liability to changes in the healthcare cost trend rate:
The following table presents the District's proportionate share of the net OPEB liability, as well as what the District's proportionate share of the net OPEB liability would be if it were calculated using healthcare cost trend rates that are 1-percentage-point lower and 1-percentage-point higher than the current healthcare cost trend rates:
District's proportionate share of the net pension liability
1% Decrease
$ 661,353,723
Current Discount Rate
$ 786,662,770
1% Increase
$ 946,803,112
66
COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2019
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
2019
2018
2017
2016
2015
5.366%
5.532%
5.578% 5.409% 5.327%
$ 996,094 $1,028,202 $1,150,755 $823,417 $673,042
249
694
1,761
1,497
1,082
$ 996,343 $1,028,896 $1,152,516 $824,914 $674,124
District's covered payroll during measurement period
638,999
District's proportionate share of the net pension liability as a percentage of its covered payroll
155.88%
Plan fiduciary net position as a percentage of the total pension liability
80.27%
635,179
161.88% 79.33%
612,318 570,929 544,177
187.93% 144.22% 123.68% 76.06% 81.44% 84.03%
Note: Schedule is intended to show information for the last ten fiscal years. Additional years will be displayed as they become available.
67
COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2019
Schedule of Contributions Teacher Retirement System of Georgia Last 10 Fiscal Years (amounts expressed in thousands)
Contractually required contribution
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
$ 137,423 $ 107,389 $ 90,646 $ 87,340 75,145 66,741 63,011 58,156 57,920 58,052
Contributions in relation to the contractually required contribution
137,423
107,389
90,646
87,340 75,145 66,741 63,011 58,156 57,920 58,052
Contribution Deficiency
$
-$
-$
-
-
-
-
-
-
-
-
District's covered payroll
$ 657,526 $ 638,999 $ 635,179 $ 612,318 570,929 544,177 551,528 564,936 565,694 594,769
Contributions as a percentage of covered payroll
20.90%
16.81%
14.27%
14.26%
13.16%
12.26%
11.42%
10.29%
10.24%
9.76%
Source: District Records. This schedule is presented to illustrate the requirement to show information for ten fiscal years.
68
COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2019
Notes to Required Supplementary Information For the Year Ended June 30 Teacher Retirement System of Georgia Changes of assumptions: In 2010 and later, the expectation of retired life mortality was changed to the RP-2000 Mortality Tables rather than the 1994 Group Annuity Mortality Table, which was used prior to 2010. In 2010, rates of withdrawal, retirement, disability and mortality were adjusted to more closely reflect actual experience. In 2010, assumed rates of salary increase were adjusted to more closely reflect actual and anticipated experience. On November 18, 2015, the Board adopted recommended changes to the economic and demographic assumptions utilized by the System. Primary among the changes were the updates to rates of mortality, retirement, disability, withdrawal and salary increases. The expectation of retired life mortality was changed to RP-2000 White Collar Mortality Table with future mortality improvement projected to 2025 with the Society of Actuaries' projection scale BB (set forward one year for males).
69
COBB COUNTY SCHOOL DISTRICT
Required Supplementary Information JUNE 30, 2019
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
2019
2018
2017
2016
2015
0.0%
0.0%
0.0%
0.0%
0.0%
$
-$
-$
-$
-$ -
9,992 $ 9,992
9,300
12,322
8,097 7,321
$ 9,300 $ 12,322 $ 8,097 $ 7,321
District's covered-employee payroll during measurement period
$ 39,077 $ 34,462 $ 38,188 $ 34,827 $23,583
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
N/A 85.26%
N/A 85.69%
N/A 81.00%
N/A
N/A
87.00% 88.29%
Note: Schedule is intended to show information for the last ten fiscal years. Additional years will be displayed as they become available.
70
COBB COUNTY SCHOOL DISTRICT
Required Supplementary Information JUNE 30, 2019
Notes to Required Supplementary Information For the Year Ended June 30 Public Schools Employees Retirement System Changes of assumptions: In 2010 and later, the expectation of retired life mortality was changed to the RP2000 Mortality Tables rather than the 1994 Group Annuity Mortality Table, which was used prior to 2010. In 2010, rates of withdrawal, retirement, disability and mortality were adjusted to more closely reflect actual experience. On December 17, 2015, the Board adopted recommended changes to the economic and demographic assumptions utilized by the System. Primary among the changes were the updates to rates of mortality, retirement and withdrawal. The expectation of retired life mortality was changed to the RP-2000 Blue Collar Mortality Table projected to 2025 with project scale BB (set forward 3 years for males and 2 years for females). On March 15, 2018, the Board adopted a new funding policy. Because of this new funding policy, the assumed investment rate of return was reduced from 7.50% to 7.40% for June 30, 2017 actuarial valuation. In addition, based on the Board's new funding policy, the assumed investment rate of return was further reduced by 0.10% from 7.40% to 7.30% as of the June 30, 2018 measurement date.
71
COBB COUNTY SCHOOL DISTRICT
Required Supplementary Information JUNE 30, 2019
Schedule of Proportionate Share of the Net OPEB Liability - School OPEB Fund For the Year Ended June 30
District's proportion of the net OPEB liability
District's proportionate share of the net OPEB liability Total
District's covered-employee payroll District's proportionate share of the net OPEB liability as
a percentage of its covered-employee payroll Plan fiduciary net position as a percentage of the total OPEB liability
2019 6.189471%
2018 6.259222%
$786,662,770 $ 879,418,172 $786,662,770 $ 879,418,172
$555,635,744 $ 548,725,520
141.58% 2.93%
160.27% 1.61%
Note: Schedule is intended to show information for the last ten fiscal years. Additional years will be displayed as they become available.
72
COBB COUNTY SCHOOL DISTRICT Required Supplementary Information
JUNE 30, 2019
Schedule of Contributions - School OPEB Fund For the Year Ended June 30
Contractually required contributions
$
Contributions in relation to the contractually required contributions $
Contribution deficiency (excess)
$
District's covered-employee payroll
$
Contributions as a percentage of covered-employee payroll
2019 33,165,263 $ 33,165,263 $ -$
575,518,845 $
5.76%
2018 32,079,432 32,079,432 -
555,635,744
5.87%
Note: Schedule is intended to show information for the last ten fiscal years. Additional years will be displayed as they become available.
73
COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2019
Notes to Required Supplementary Information For the Year Ended June 30 School OPEB Fund Changes of benefit terms: In the June 30, 2010 actuarial valuation, there was a change of benefit terms to require Medicare-eligible recipients to enroll in a Medicare Advantage plan to receive the State subsidy. Changes in assumptions: In the revised June 30, 2017 actuarial valuation, there was a change relating to employee allocation. Employees were previously allocated based on their Retirement System membership, and currently employees are allocated based on their current employer payroll location. In the June 30, 2015 actuarial valuation, decremental and underlying inflation assumptions were changed to reflect the Retirement Systems' experience studies. In the June 30, 2012 actuarial valuation, a data audit was performed and data collection procedures and assumptions were changed.
74
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. These revenues have been committed by the Board for use by local principals to benefit students and faculty subject to District policy.
Performing Arts/Art Career and Cultural Tuition School/Adult High School Miscellaneous Grants
This fund is created to account for funds for the Performing Arts Program which offers an opportunity for students in kindergarten through eighth grade to experience professional quality performing arts experiences. These experiences include off-campus trips to art museums, symphony concerts, ballet and theater performances, as well as in-house musical and dramatic presentations. The program is funded through voluntary student contributions and charges for participation. Art Career and Cultural fund is created to provide accounting of funds which are provided to local artists as compensation for workshops held in the district's schools.
This fund is created to provide accounting for the Tuition School Program which provides the opportunity for students to make up school classes and provide enrichment and remedial work at various instructional levels. This program is supported by user tuition charges. This fund is created to account for funds for the Adult High School Program which provides the opportunity for students 16 years of age, and older, who are not enrolled in a regular high school, to improve their basic educational skills and work towards high school completion.
This fund is established to provide accounting of funds received and represent a compilation of several grants which are awarded for educational purposes.
75
School Nutrition/FNS Catered Food Service
This fund is established to provide accounting of funds which are used for the operation of school lunchrooms. All lunches and breakfasts provide at least one-third of each student's nutritional needs and are available at a minimal cost. Free and reduced meals are provided for qualifying students. All lunchrooms are regularly inspected by the Cobb County Health Department and meet prescribed standards of the State Department of Education. The FNS Catered Food Service fund is established to offer additional revenue and staff training.
Pre-Kindergarten (Lottery)
This fund is established to prepare children for Kindergarten. This program is funded by the Georgia lottery and is a voluntary for all eligible four year olds residents.
Adult Education
This fund is established to provide accounting for grant funds via the Georgia Department of Technical and Adult Education which are used to educate adults and is a part of the national effort to ensure that all adults are literate and able to compete in the global economy.
GNETS
This fund is established to provide accounting for grant funds via the Georgia Department of Education which are used to provide appropriate education for students identified as severely emotionally behavior disordered, or autistic. This fund reports a restricted fund balance due to an MOU with other metro school districts.
Title I
Special Education Vocational Education
This fund is established to provide accounting of Title I funds which are provided as part of the No Child Left Behind Act of 2001. This act provides federal funds through the Georgia Department of Education to local school districts to help disadvantaged children meet high standards. The goal is to have a quality education for all children by having local schools and state departments work together.
This fund is established to provide accounting of federal revenues received to provide programs for direct and related support services for handicapped children.
This fund is established to provide accounting of federal grant revenues provided for career training and opportunities to students.
Title II
This fund is established to provide accounting of federal categorical grant funds which flow through the Georgia Department of Education to our school district. The funds are used to advance teacher quality through professional learning, preparation, recruitment and retention as well as upgrading teachers' skills in science and math through training.
Homeless Grant USDA Fruits and Vegetables Title III
This fund is established to provide accounting of funds for federal categorical grant funds which flow through the Georgia Department of Education and are used to provide educational services to homeless children.
This fund is established to provide accounting of federal grant funds which flow through the Georgia Department of Education Food and Nutrition Program. The funds provide free fresh fruits and vegetables to school children outside of the lunch or breakfast food service periods.
This fund is established to provide accounting of federally funded grants for programs that support Limited English Proficiency (LEP) students and their families, through language instructional programs. These programs include community participation programs, family literacy services, parent outreach and training activities to improve the English language skills of limited English proficient children and assistance for parents in helping their children to improve their academic achievement.
76
Title IV Local School Funds
This fund is established to provide accounting of federal categorical grant funds which are directly funded from the U.S. Department of Education and may flow through the Georgia State Department of Education. The funds are used to promote the Safe and Drug Free Schools Program, the Mentoring Program and the 21st Century Community Learning Centers Program for students in our schools.
This fund is established to provide accounting for local school resources generated through ticket sales, commissions, vending, donations, etc. in which the administration has a material degree of involvement. These revenues have been committed by the Board for use by local principals to benefit students and faculty subject to District policy.
Capital Projects Funds
These funds are established to provide accounting for financial resources to be used for the acquisition and construction of major capital facilities. The District has two nonmajor funds used for those purposes; the District Building Fund and the Special Purpose Local Option Sales Tax III Fund.
77
COBB COUNTY SCHOOL DISTRICT COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2019
(amounts expressed in thousands)
ASSETS:
Cash and Cash Equivalents Intergovernmental Receivable Accounts Receivable Due From Other Funds Inventories
Total Assets
LIABILITIES AND FUND BALANCES:
Liabilities: Accounts Payable Accrued Payroll and Payroll Withholdings Accrued Employee Benefits Due to Other Funds Unearned Revenue Total Liabilities
Fund Balances: Nonspendable Restricted Committed Assigned Total Fund Balances
Total Liabilities and Fund Balances
Special Revenue
Donations
Facility Use/ Public
Safety
After School Program
Performing Arts/ Art Career and Cultural
$ 311 $ 1,300 $ 4,206 $
277
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
$ 311 $ 1,300 $ 4,206 $
277
$
9$
-$
85 $
-
-
12
1
-
-
1
-
-
-
-
-
-
-
-
-
-
9
13
86
-
-
-
-
-
-
-
-
-
302
1,287
4,120
277
-
-
-
-
302
1,287
4,120
277
$ 311 $ 1,300 $ 4,206 $
277
78
Tuition School/ Adult High School
Misc. Grants
Special Revenue
School
Nutrition/
FNS Catered
PRE K
Food Service Lottery
Adult Education
GNETS
$ 2,157 $ -
$ 2,157 $
32 $ 17,353 $
1
-
-
17
-
-
-
2,965
33 $ 20,335 $
10 $
-$
14
-
141
572
-
-
-
-
-
-
-
-
-
10 $ 141 $ 586
$
-$
50 8 -
58
- $ 140 $
-
318
-
733
-
-
-
897
-
2,088
2,099 2,099
$ 2,157 $
-
2,965
33
15,282
-
-
-
-
33
18,247
33 $ 20,335 $
-$
1$
-
7
39
183
3
12
92
-
89
-
-
-
-
10
141
275
-
-
-
-
-
311
-
-
-
-
-
-
-
-
311
10 $ 141 $ 586
Continued---
79
COBB COUNTY SCHOOL DISTRICT COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2019
(amounts expressed in thousands)
ASSETS:
Cash and Cash Equivalents Intergovernmental Receivable Accounts Receivable Due From Other Funds Inventories
Total Assets
LIABILITIES AND FUND BALANCES:
Liabilities: Accounts Payable Accrued Payroll and Payroll Withholdings Accrued Employee Benefits Due to Other Funds Unearned Revenue Total Liabilities
Fund Balances: Nonspendable Restricted Committed Assigned Total Fund Balances
Total Liabilities and Fund Balances
Special Revenue
Title I
Special
Vocational
Education Education
Title II
$
-$
-$
3,172
3,214
-
-
-
-
-
-
$ 3,172 $ 3,214 $
-$
-
-
522
-
-
-
-
-
-
- $ 522
$
5$
-$
1,026 339
1,802 -
3,172
990 506 1,718
-
3,214
-
-
-
-
-
-
-
-
-
-
$ 3,172 $ 3,214 $
-$
38
-
53
-
20
-
411
-
-
-
522
-
-
-
-
-
-
-
-
-
-
- $ 522
80
Homeless Grant
Special Revenue
USDA Fruits and Vegetables
Title III
Title IV
Local School Funds
$
-$
-$
-$
- $ 9,779
4
-
140
644
-
-
-
-
-
-
-
-
-
-
166
-
-
-
-
-
$
4$
- $ 140 $ 644 $ 9,945
$
-$
-$
-$
5$
-
-
-
51
58
-
-
-
16
5
-
4
-
73
576
-
-
-
-
-
-
4
-
140
644
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
9,945
-
-
-
-
-
-
-
-
-
9,945
$
4$
- $ 140 $ 644 $ 9,945
Continued---
81
COBB COUNTY SCHOOL DISTRICT COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2019
(amounts expressed in thousands)
ASSETS:
Cash and Cash Equivalents Intergovernmental Receivable Accounts Receivable Due From Other Funds Inventories
Total Assets
LIABILITIES AND FUND BALANCES:
Liabilities: Accounts Payable Accrued Payroll and Payroll Withholdings Accrued Employee Benefits Due to Other Funds Unearned Revenue Total Liabilities
Fund Balances: Nonspendable Restricted Committed Assigned Total Fund Balances
Total Liabilities and Fund Balances
Capital Projects
District Special Purpose
Building
Local Option
Fund
Sales Tax III
Total
$
399 $
-
-
-
$
399 $
-$ -
-$
35,838 8,410
17 166 2,965
47,396
$
103 $
-
103
-
-
296
296
$
399 $
-$
-
386
2,788 1,735 4,673
897 10,479
-
-$
2,965 15,626 18,030
296 36,917
47,396
Concluded.
82
(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, 2019
(amounts expressed in thousands)
REVENUES: Intergovernmental Tuition and Fees Interest Income Athletic Ticket Sales Other
Total Revenues
Donations
Special Revenue
Facility Use/ Public Safety
After School Program
Performing Arts/Art
Career and Culture
$
-$
-$
-$
-
-
1,322
10,154
337
-
-
-
-
-
-
-
-
294
-
-
1
294
1,322
10,154
338
EXPENDITURES: Current:
Instruction Pupil Services Instructional Services School and Administrative
Services Student Transportation Maintenance and Operation of Plant 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)
78
394
1,543
368
21
-
16
-
25
-
-
-
72
188
8,409
-
-
-
-
-
-
1,615
-
-
-
-
-
-
-
-
323
-
196
2,197
10,291
368
98
(875)
(137)
(30)
-
955
-
-
-
(123)
-
-
-
-
-
-
-
832
-
-
Net Change in Fund Balances Fund Balances, Beginning of Year Fund Balances, End of Year
98
(43)
(137)
(30)
204
1,330
4,257
307
$ 302 $ 1,287 $ 4,120 $
277
83
Tuition School/ Adult High School
Misc. Grants
Special Revenue
School
Nutrition/ FNS Catered Food Service
PRE K Lottery
Adult Education
GNETS
$
-$
982
-
-
982
55 $ 35,079 $
-
20,205
-
352
-
-
35
125
90
55,761
101 $ -
101
1,124 $ -
1,124
4,907 -
74 4,981
412
30
-
-
128
53
-
101
507
3,817
-
-
-
696
-
-
-
268
193
3
56,451
-
617
205
-
-
-
-
-
10
14
-
-
-
-
-
-
-
-
-
-
-
-
-
25
-
-
-
747
86
56,476
101
1,124
4,996
235
4
(715)
279 -
279
514
1,585
$ 2,099 $
-
-
-
-
-
52
-
52
4
(663)
29
18,910
33 $ 18,247 $
-
-
-
-$
-
(15)
-
-
-
-
-
-
-
-
-
(15)
-
326
-$
311
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, 2019
(amounts expressed in thousands)
Special Revenue
REVENUES: Intergovernmental Tuition and Fees Interest Income Athletic Ticket Sales Other
Total Revenues
EXPENDITURES: Current:
Instruction Pupil Services Instructional Services School and Administrative
Services Student Transportation Maintenance and Operation of Plant Student Activities Capital Outlay
Total Expenditures
Excess (Deficiency) of Revenues Over (Under) Expenditures
Other Financing Sources (Uses): Transfers-In Transfers-Out Proceeds from Sale of Capital Assets Total Other Financing Sources (Uses)
Net Change in Fund Balances
Fund Balances, Beginning of Year
Fund Balances, End of Year
Title I
Special
Vocational
Education Education
Title II
$ 21,798 $ 19,272 $
-
-
-
-
-
-
-
-
21,798
19,272
779 $ 2,257
-
-
-
-
-
-
-
-
779
2,257
9,172 2,178 9,765
549 134
21,798
6,639 4,570 5,633
1,087 1,343
19,272
491
-
-
-
31
1,824
13
404
-
-
-
-
-
-
244
29
779
2,257
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
$
-$
-$
-$
-
85
Special Revenue
Homeless Grant
USDA Fruit and Vegetables
Title III
Title IV
Local School Funds
$
66 $
160 $ 1,252 $ 1,876 $
-
-
-
-
-
28,670
-
-
-
-
4
-
-
-
-
3,576
-
-
-
-
-
66
160
1,252
1,876
32,250
3
-
312
749
-
7
-
200
731
-
36
-
660
166
-
2
160
80
85
-
18
-
-
64
-
-
-
-
3
-
-
-
-
-
31,664
-
-
-
78
-
66
160
1,252
1,876
31,664
-
-
-
-
586
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
586
-
-
-
-
9,359
$
-$
-$
-$
- $ 9,945
Continued---
86
COBB COUNTY SCHOOL DISTRICT
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2019
(amounts expressed in thousands)
Capital Projects
REVENUES:
Intergovernmental Tuition and Fees Interest Income Athletic Ticket Sales Other
Total Revenues
District Building
Fund
Special Purpose Local Option Sales Tax III
$
173 $
-
-
-
3
45
-
-
53
-
229
45
Total
$ 88,899 61,670 404 3,576 582
155,131
EXPENDITURES: Current:
Instruction Pupil Services Instructional Services School and Administrative
Services Student Transportation Maintenance and Operation of Plant 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)
-
564 -
176 740
(511)
743 -
743
-
2,269 -
745 3,014
(2,969)
(1,299)
(1,299)
24,616 8,419 18,589
71,351 1,569 1,632 31,664 1,620 159,460
(4,329)
1,977 (1,422)
52 607
Net Change in Fund Balances Fund Balances, Beginning of Year Fund Balances, End of Year
232
(4,268)
(3,722)
64
4,268
40,639
$
296 $
-
$ 36,917
Concluded.
87
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, 2019
(amounts expressed in thousands)
REVENUES: Local
Total Revenues
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services General Administration School Administration Business Services Central Operations Other Support Services Community Services Operations
Total Expenditures
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget
$
302 $
302 $
294 $
(8)
302
302
294
(8)
144
144
57
57
89
89
3
3
6
6
2
2
194
194
-
-
1
1
78
66
21
36
25
64
-
3
4
2
1
1
54
140
13
(13)
-
1
496
496
196
300
Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year
(194)
(194)
98
292
204
204
204
-
$
10 $
10 $
302 $
292
88
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, 2019
(amounts expressed in thousands)
REVENUES: Local Other
Total Revenues
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget
$
1,333 $
1,333 $
1,322 $
(11)
955
955
955
-
2,288
2,288
2,277
(11)
EXPENDITURES: Instruction Maintenance and Operation of Plant
Community Service Operations Total Expenditures
1,564
724 2,288
1,564
724 2,288
394 1,615
311 2,320
(394) (51)
413 (32)
Net Change in Fund Balance Fund Balance, Beginning of Year
-
-
(43)
(43)
1,330
1,330
1,330
-
Fund Balance, End of Year
$
1,330 $
1,330 $
1,287 $
(43)
89
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, 2019
(amounts expressed in thousands)
REVENUES: Local
Total Revenues
EXPENDITURES: Instruction Pupil Services Community Service Operations
Total Expenditures
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget
$
9,772 $
9,772 $
10,154 $
382
9,772
9,772
10,154
382
1,169 -
8,603 9,772
1,169 -
11,995 13,164
1,543 16
8,732 10,291
(374) (16) 3,263 2,873
Net Change in Fund Balance Fund Balance, Beginning of Year
Fund Balance, End of Year
$
4,257 4,257 $
(3,392) 4,257
865 $
(137) 4,257 4,120 $
3,255 -
3,255
90
COBB COUNTY SCHOOL DISTRICT PERFORMING ARTS/ART CAREER AND CULTURAL PROGRAM-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2019
(amounts expressed in thousands)
REVENUES: Local
Total Revenues
EXPENDITURES: Instruction
Total Expenditures
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget
$
423 $
423 $
338 $
(85)
423
423
338
(85)
423
423
368
55
423
423
368
55
Net Change in Fund Balance Fund Balance, Beginning of Year
-
-
(30)
(30)
307
307
307
-
Fund Balance, End of Year
$
307 $
307 $
277 $
(30)
91
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, 2019
(amounts expressed in thousands)
REVENUES: Local Other
Total Revenues
EXPENDITURES: Instruction Improvement of Instructional Services Educational Media Services School Administration Maintenance and Operation of Plant Central Operations Community Services Operations
Total Expenditures
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget
$
822 $
831 $
982 $
151
279
279
279
-
1,101
1,110
1,261
151
619
628
412
216
135
138
128
10
8
8
-
8
23
23
-
23
1
1
14
(13)
3
-
-
-
312
312
193
119
1,101
1,110
747
363
Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year
-
-
514
514
1,585
1,585
1,585
-
$
1,585 $
1,585 $
2,099 $
514
92
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, 2019
(amounts expressed in thousands)
REVENUES: Local State Other Sources
Total Revenues
EXPENDITURES: Instruction Improvement of Instructional Services General Administration
Total Expenditures
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget
$
68 $
68 $
20 $
(48)
58
58
55
(3)
7
7
15
8
133
133
90
(43)
101
101
30
71
25
25
53
(28)
7
7
3
4
133
133
86
47
Net Change in Fund Balance
-
-
4
4
Fund Balance, Beginning of Year
29
29
29
-
Fund Balance, End of Year
$
29 $
29 $
33 $
4
93
COBB COUNTY SCHOOL DISTRICT SCHOOL NUTRITION/FNS CATERED FOOD SERVICE-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2019
(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
$
19,832 $
19,832 $
20,613 $
1,359
1,359
1,340
35,271
35,271
33,739
18
18
121
56,480
56,480
55,813
781 (19) (1,532) 103 (667)
57,165
57,165
56,476
689
57,165
57,165
56,476
689
Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year
(685)
(685)
(663)
22
18,910
18,910
18,910
-
$
18,225 $
18,225 $
18,247 $
22
94
COBB COUNTY SCHOOL DISTRICT PRE K LOTTERY-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2019
(amounts expressed in thousands)
REVENUES: Federal
Total Revenues
EXPENDITURES: Instruction
Total Expenditures
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget
$
83 $
101 $
101 $
-
83
101
101
-
83
101
101
-
83
101
101
-
Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year
-
-
-
-
-
-
-
-
$
-$
-$
-$
-
95
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, 2019
(amounts expressed in thousands)
REVENUES: State Federal
Total Revenues
EXPENDITURES: Instruction Community Service Operations
Total Expenditures
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget
$
493 $
493 $
474 $
(19)
704
704
650
(54)
1,197
1,197
1,124
(73)
1,197 1,197
1,197 1,197
507 617 1,124
(507) 580
73
Net Change in Fund Balance
-
-
-
-
Fund Balance, Beginning of Year
-
-
-
-
Fund Balance, End of Year
$
-$
-$
-$
-
96
COBB COUNTY SCHOOL DISTRICT GNETS-SPECIAL REVENUE FUND SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS) FOR THE YEAR ENDED JUNE 30, 2019
(amounts expressed in thousands)
REVENUES: State Federal Other
Total Revenues
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services General Administration School Administration Business Services Maintenance and Operation of Plant Student Transportation
Total Expenditures
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget
$
5,333 $
4,910 $
4,555 $
415
519
352
104
104
74
5,852
5,533
4,981
(355) (167)
(30) (552)
4,557
4,192
3,817
375
767
809
696
113
277
294
268
26
53
49
45
4
158
161
158
3
11
11
2
9
1
1
-
1
28
16
10
6
5,852
5,533
4,996
537
Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year
-
-
(15)
(15)
326
326
326
-
$
326 $
326 $
311 $
(15)
97
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, 2019
(amounts expressed in thousands)
REVENUES: Federal
Total Revenues
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services Federal Grant Administration General Administration Student Transportation
Total Expenditures
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget
$
21,754 $
23,885 $
21,798 $
21,754
23,885
21,798
(2,087) (2,087)
7,647 2,633 10,194
657 491 132 21,754
10,030 2,426 9,881 710 612 226
23,885
9,172 2,178 9,159
606 549 134 21,798
858 248 722 104
63 92 2,087
Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year
-
-
-
-
-
-
-
-
$
-$
-$
-$
-
98
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, 2019
(amounts expressed in thousands)
REVENUES: Federal
Total Revenues
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services General Administration Student Transportation
Total Expenditures
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget
$
20,174 $
21,541 $
19,272 $
20,174
21,541
19,272
(2,269) (2,269)
7,155 5,464 6,339 1,216
20,174
6,014 5,814 6,646 1,272 1,795 21,541
6,639 4,570 5,633 1,087 1,343 19,272
(625) 1,244 1,013
185 452 2,269
Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year
-
-
-
-
-
-
-
-
$
-$
-$
-$
-
99
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, 2019
(amounts expressed in thousands)
REVENUES: Federal
Total Revenues
EXPENDITURES: Instruction Improvement of Instructional Services Federal Grant Administration General Administration
Total Expenditures
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget
$
717 $
779 $
779 $
-
717
779
779
-
596
735
735
-
91
22
22
-
19
9
9
-
11
13
13
-
717
779
779
-
Net Change in Fund Balance
-
-
-
-
Fund Balance, Beginning of Year
-
-
-
-
Fund Balance, End of Year
$
-$
-$
-$
-
100
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, 2019
(amounts expressed in thousands)
REVENUES: Federal
Total Revenues
EXPENDITURES: Improvement of Instructional Services General Administration Support Services - Central Federal Grant Administration
Total Expenditures
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget
$
2,413 $
2,635 $
2,257 $
2,413
2,635
2,257
(378) (378)
1,982
2,054
1,834
220
55
68
57
11
271
405
267
138
105
108
99
9
2,413
2,635
2,257
378
Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year
-
-
-
-
-
-
-
-
$
-$
-$
-$
-
101
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, 2019
(amounts expressed in thousands)
REVENUES: Federal
Total Revenues
EXPENDITURES: Instructional Pupil Services General Administration Student Transportation Federal Grant Administration
Total Expenditures
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget
$
72 $
69 $
66 $
(3)
72
69
66
(3)
6
4
3
1
8
5
7
(2)
2
2
2
-
18
18
18
-
38
40
36
4
72
69
66
3
Net Change in Fund Balance
-
-
-
-
Fund Balance, Beginning of Year
-
-
-
-
Fund Balance, End of Year
$
-$
-$
-$
-
102
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, 2019
(amounts expressed in thousands)
REVENUES: Federal
Total Revenues
EXPENDITURES: School Nutrition
Total Expenditures
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget
$
10 $
160 $
160 $
-
10
160
160
-
10
160
160
-
10
160
160
-
Net Change in Fund Balance
-
-
-
-
Fund Balance, Beginning of Year
-
-
-
-
Fund Balance, End of Year
$
-$
-$
-$
-
103
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, 2019
(amounts expressed in thousands)
REVENUES: Federal
Total Revenues
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services Federal Grant Administration
Total Expenditures
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget
$
1,487 $
1,352 $
1,252 $
1,487
1,352
1,252
(100) (100)
472
335
360
(25)
258
240
200
40
729
752
670
82
28
25
22
3
1,487
1,352
1,252
100
Net Change in Fund Balance
-
-
-
-
Fund Balance, Beginning of Year
-
-
-
-
Fund Balance, End of Year
$
-$
-$
-$
-
104
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, 2019
(amounts expressed in thousands)
REVENUES: Federal
Total Revenues
Budgeted Amounts
Original
Final
Actual Amounts
Variance With Final Budget
$
756 $
3,262 $
1,876 $
(1,386)
756
3,262
1,876
(1,386)
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services Federal Grant Administration General Administration Business Support Services Maintenance Student Transportation Other Support Service
Total Expenditures
428
1,433
149
1,204
5
375
48
60
17
81
17
17
4
4
71
71
17
17
756
3,262
778 763 134
50 48 16
3 64 20 1,876
655 441 241
10 33
1 1 7 (3) 1,386
Net Change in Fund Balance Fund Balance, Beginning of Year Fund Balance, End of Year
-
-
-
-
-
-
-
-
$
-$
-$
-$
-
105
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.
106
COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF FUND NET POSITION INTERNAL SERVICE FUNDS JUNE 30, 2019
(amounts expressed in thousands)
Assets:
Unemployment Compensation
Fund
SelfInsurance
Fund
Total
Current Assets: Cash
Total Current Assets
$
647 $
10,509 $
11,156
647
10,509
11,156
Liabilities:
Current Liabilities: Accounts Payable Claims Payable, due within one year 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
$
-
212
212
-
2,702
2,702
-
2
2
-
4
4
-
2,920
2,920
-
4,600
4,600
-
7,520
7,520
647 $
2,989 $
3,636
107
COBB COUNTY SCHOOL DISTRICT
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITION
INTERNAL SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2019
(amounts expressed in thousands)
OPERATING REVENUES: Charges for Services
Total Revenues
Unemployment Compensation
Fund
SelfInsurance
Fund
Total
$
70 $
8,351 $
8,421
70
8,351
8,421
OPERATING EXPENSES: School and Administrative Services
Total Expenditures
80
8,295
8,375
80
8,295
8,375
Operating Income (Loss)
(10)
56
46
Transfers-In
-
373
373
Change in Net Position
(10)
429
419
Total Net Position, Beginning of Year
657
2,560
3,217
Total Net Position, End of Year
$
647 $
2,989 $
3,636
108
COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2019
(amounts expressed in thousands)
Cash Flows from Operating Activities: Receipts from Interfund Services Provided Payments to Suppliers Payments for Medical Fees and Insurance Claims Payments to Employees
Net Cash Provided by (used in) Operating Activities
Cash Flows from Noncapital Financing Activities: Transfers-In
Net Cash Provided by Noncapital Financing Activities
Net Change in Cash and Cash Equivalents
Cash and Cash Equivalents at Beginning of Year
Cash and Cash Equivalents at End of Year
Reconciliation of Operating Income (loss) to Net Cash Provided by (used in) Operating Activities:
Operating Income (loss) Adjustments to Reconcile Operating Income (loss)
Net Cash Provided by (used in) Operating Activities:
Decrease in Prepaid Items Increase in Claims Payables Decrease in Accounts Payable Decrease in Accrued Payroll and
Payroll Withholdings Total Adjustments Net Cash Provided by (used in) Operating Activities
Unemployment Compensation
Fund
SelfInsurance
Fund
Total
$
70 $
8,351 $
8,421
(14)
(646)
(660)
(80)
(6,678)
(6,758)
-
(683)
(683)
(24)
344
320
-
373
373
-
373
373
(24)
717
693
671
9,792
10,463
$
647 $
10,509 $
11,156
$
(10) $
56 $
46
-
144
144
-
449
449
(14)
(303)
(317)
-
(2)
(2)
(14)
288
274
$
(24) $
344 $
320
109
Fiduciary Funds These funds are established to account for assets held by the District as a trustee or agent. The District has one individual Agency Fund, the Payroll Withholding Fund. This fund is used to account for assets held by the District as an agent for salary withholdings collection agencies.
110
COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES FIDUCIARY FUNDS JUNE 30, 2019
(amounts expressed in thousands)
Agency Funds
ASSETS: Cash and Cash Equivalents
Total Assets
Student Activity
Payroll Withholding
Total
$
1,647 $
34,935 $
36,582
$
1,647 $
34,935 $
36,582
LIABILITIES:
Due to Student Groups
$
Payroll Withholdings Payable
Total Liabilities
$
1,647 $ -
1,647 $
-
$
34,935
34,935 $
1,647 34,935
36,582
111
COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF CHANGES IN FIDUCIARY ASSETS AND LIABILITIES FIDUCIARY FUNDS FOR THE YEAR ENDED JUNE 30, 2019
(amounts expressed in thousands)
ASSETS: Cash and Cash Equivalents
Balance, Beginning of Year Additions Deductions Balance, End of Year
Student Activity
Payroll Withholding
$
1,642 $
39,044 $
1,674
45,351
(1,669)
(49,460)
$
1,647 $
34,935 $
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
$
1,642 $
1,674
(1,669)
1,647
-$ -
-
39,044
-
45,351
-
(49,460)
-
34,935
1,642
39,044
1,674 (1,669)
45,351 (49,460)
$
1,647 $
34,935 $
Total
40,686 47,025 (51,129) 36,582
1,642 1,674 (1,669) 1,647
39,044 45,351 (49,460) 34,935
40,686 47,025 (51,129) 36,582
112
COBB COUNTY SCHOOL DISTRICT SPLOST 3 - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2019
LOCATION/DESCRIPTION
Approved Budget
Revised Budget
Expended Inception through 06/30/19
Expended FY19
Encumbered as of 6/30/19
Uncommitted
ACWORTH INTERMEDIATE ADDISON ES ADULT EDUCATION CENTER ALLATOONA HS ARGYLE ES AUSTELL ES AWTREY MS BAKER ES BAKER ROAD BUS SHOP BARBER MS BELLS FERRY ES BELMONT HILLS ES BIG SHANTY ES BIRNEY ES BLACKWELL ES BRUMBY ES BRUMBY REPLACEMENT ES BRYANT ES BULLARD ES CAMPBELL HS CAMPBELL MS CHALKER ES CHEATHAM HILL ES CLARKDALE ES CLARKDALE REPLACEMENT ES CLAY ES COMPTON ES COOPER MS DANIELL MS DAVIS ES DICKERSON MS DODGEN MS DOWELL ES DUE WEST ES DURHAM MS EAST COBB MS EAST COBB REPLACEMENT MS EAST SIDE ES EAST SIDE REPLACEMENT ES EASTVALLEY ES FAIR OAKS ES FLOYD MS FORD ES FREY ES GARRETT MS GARRISON MILL ES GREEN ACRES ES GRIFFIN MS HARMONY LELAND ES HARRISON HS HAVEN @ FITZHUGH LEE HAVEN @ HAWTHORNE HAVEN AT SKY VIEW HAYES ES HENDRICKS ES HIGHTOWER TRAIL MS HILLGROVE HS HOLLYDALE ES KEHELEY ES KELL HS KEMP ES KENNESAW ES KENNESAW MOUNTAIN HS KENNESAW WAREHOUSE KINCAID ES KING SPRINGS ES KING SPRINGS PRIMARY (K-1) LABELLE ES LASSITER HS LEWIS ES
$
496,193 $
1,108,514 $
1,043,331
1,396,802
397,104
1,368,766
-
2,480,801
1,318,244
2,274,174
113,337
689,760
4,154,806
4,513,353
3,436,575
4,556,508
721,525
810,586
651,496
1,585,946
7,076,214
6,180,285
1,327,563
1,475,993
2,013,432
2,392,576
3,942,821
3,901,141
377,384
1,205,358
1,080,925
1,428,761
-
4,263,273
1,040,025
2,262,017
106,366
1,130,651
4,883,357
6,002,917
5,799,494
6,588,156
1,449,276
1,946,747
3,113,452
3,597,187
946,788
184,107
-
6,046,428
514,377
992,990
1,427,439
2,121,581
1,101,700
1,907,387
6,180,190
6,438,045
3,827,240
3,189,622
1,885,533
2,437,710
1,662,303
2,574,815
2,198,797
2,527,553
1,210,036
1,600,323
1,460,314
2,422,174
3,613,109
2,409,060
-
993,435
-
541,640
27,030,976
20,229,479
991,794
1,509,072
1,455,706
1,543,924
2,259,564
3,314,048
3,535,560
4,041,259
1,335,206
1,562,646
14,734,437
10,960,133
3,796,410
4,112,959
1,237,190
1,755,445
2,064,731
2,481,002
591,860
1,376,695
4,240,110
21,634,429
1,711,339
312,659
1,100,656
1,696,584
-
823,349
1,016,015
1,628,160
282,202
1,035,200
5,280,637
3,905,926
176,890
3,018,740
1,061,830
1,389,652
3,508,784
3,542,088
446,849
3,266,084
882,673
1,433,976
2,260,679
2,595,762
3,347,006
6,143,728
21,244,784
17,743,904
3,458,008
3,464,341
2,570,192
3,222,028
1,077,413
1,510,375
537,008
1,289,850
19,710,822
20,944,450
1,078,833
2,229,808
1,108,514 $
-$
-$
-
1,396,802
-
-
-
1,368,766
-
-
-
2,480,801
-
-
-
2,274,174
-
-
-
689,760
-
-
-
4,513,353
2,483
-
-
4,556,508
10,515
-
-
810,586
-
-
-
1,585,946
4,561
-
-
6,180,285
-
-
-
1,475,993
-
-
-
2,392,576
-
-
-
3,901,141
-
-
-
1,205,358
-
-
-
1,428,761
-
-
-
4,263,273
71,001
-
-
2,262,017
4,016
-
-
1,130,651
-
-
-
6,002,917
10,664
-
-
6,588,156
2,940
-
-
1,946,747
265
-
-
3,597,187
-
-
-
184,107
-
-
-
6,046,428
-
-
-
992,990
-
-
-
2,121,581
-
-
-
1,907,387
-
-
-
6,438,045
14,010
-
-
3,189,622
474
-
-
2,437,710
-
-
-
2,574,815
-
-
-
2,527,553
-
-
-
1,600,323
2,480
-
-
2,422,174
-
-
-
2,409,060
-
-
-
993,435
589,771
-
-
541,640
-
-
-
20,229,479
-
-
-
1,509,072
2,852
-
-
1,543,924
-
-
-
3,314,048
-
-
-
4,041,259
-
-
-
1,562,646
-
-
-
10,960,133
-
-
-
4,112,959
-
-
-
1,755,445
-
-
-
2,481,002
16,102
-
-
1,376,695
2,284
-
-
21,634,429
-
-
-
312,659
-
-
-
1,696,584
-
-
-
823,349
-
-
-
1,628,160
-
-
-
1,035,200
-
-
-
3,905,926
2,364
-
-
3,018,740
-
-
-
1,389,652
-
-
-
3,542,088
-
-
-
3,266,084
-
-
-
1,433,976
-
-
-
2,595,762
-
-
-
6,143,728
-
-
-
17,743,904
-
-
-
3,464,341
1,051
-
-
3,222,028
6,233
-
-
1,510,375
-
-
-
1,289,850
-
-
-
20,944,450
-
-
-
2,229,808
-
-
-
113
COBB COUNTY SCHOOL DISTRICT SPLOST 3 - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2019
LOCATION/DESCRIPTION
LINDLEY 6TH GRADE ACADEMY LINDLEY MS LOST MOUNTAIN MS LOVINGGOOD MS MABLETON ES MABLETON REPLACEMENT ES MABRY MS MAINTENANCE FACILITY ARGO ROAD MARS HILL ROAD BUS SHOP MARTHA MOORE EDUCATION CENTER MCCALL PRIMARY MCCLESKEY MS MCCLURE MS MCEACHERN HS MILFORD ES MOUNT BETHEL ES MOUNTAIN VIEW ES MOUNTAIN VIEW REPLACEMENT ES MURDOCK ES NICHOLSON ES NICKAJACK ES NORTH COBB HS NORTON PARK ES OAKWOOD SCHOOL OSBORNE HS PALMER MS PEBBLEBROOK HS PICKETT'S MILL ES PINE MOUNTAIN MS PITNER ES PITTS TRANSPORTATION CENTER POPE HS POWDER SPRINGS ES POWERS FERRY ES RIVERSIDE INTERMEDIATE RIVERSIDE PRIMARY ROCKY MOUNT ES ROSE GARDEN RUSSELL ES SANDERS ES SANDERS ROAD BUS SHOP SEDALIA PARK ES SHALLOWFORD FALLS ES SIMPSON MS SKY VIEW ADMINISTRATION SKY VIEW ES SMITHA MS SMYRNA ES SOPE CREEK ES SOUTH COBB HS SPRAYBERRY HS STILL ES SYSTEMWIDE TAPP MS TEASLEY ES TIMBER RIDGE ES TRITT ES VARNER ES VAUGHN ES WALTON HS WALTON REPLACEMENT HS WEST COBB 9TH GRADE CENTER WHEELER HS 440 GLOVER STREET 514 GLOVER STREET 538 GLOVER STREET 580 GLOVER STREET 590 COMMERCE PARK DRIVE 650 SOUTH COBB DR TOTAL PROJECT EXPENDITURES
Approved
Budget
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
2,433,140
2,083,632
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
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
2,198,821 1,776,813 2,879,382 1,498,851
370,767 22,114,481
5,547,831 1,053,916
699,217 516,899 758,537 11,818,019 1,580,378 8,863,705 1,312,606 2,721,407 2,023,760 769,728 3,703,069 1,311,394 2,600,372 22,289,136 2,922,601 968,054 3,609,157 1,077,931 6,831,293 700,613 9,076,496 1,952,873 22,588,160 14,085,580 4,704,420 1,148,054 1,394,187 724,169 3,008,324 423,249 1,853,672 1,745,105 1,012,521 1,444,173 1,545,838 11,279,682 242,193 383,046 7,676,996 31,748,948 5,367,105 26,001,827 15,901,810 2,939,538 10,516,370 6,005,361 13,126,647 1,133,669 1,984,717 3,270,551 1,390,170 7,292,724
8,287 -
29,485,204 13,312,236
7,939,658 560,983 110,858 79,826 309,993
634,558,855 $
Expended Inception through 06/30/19
2,198,821 1,776,813 2,879,382 1,498,851
370,767 22,114,481
5,547,831 1,053,916
699,217 516,899 758,537 11,818,019 1,580,378 8,863,705 1,312,606 2,721,407 2,023,760 769,728 3,703,069 1,311,394 2,600,372 22,289,136 2,922,601 968,054 3,609,157 1,077,931 6,831,293 700,613 9,076,496 1,952,873 22,588,160 14,085,580 4,704,420 1,148,054 1,394,187 724,169 3,008,324 423,249 1,853,672 1,745,105 1,012,521 1,444,173 1,545,838 11,279,682 242,193 383,046 7,676,996 31,748,948 5,367,105 26,001,827 15,901,810 2,939,538 10,516,370 6,005,361 13,126,647 1,133,669 1,984,717 3,270,551 1,390,170 7,292,724
8,287 -
29,485,204 13,312,236
7,939,658 560,983 110,858 79,826 309,993
634,558,855 $
Expended FY19
312 7,739 11,755 144,412 160,873 1,402 2,583 1,455 11,225 419 22,530 11,227 1,510,322 6,130 1,817 8,296 8,287 1,079,720 168,660 110,858 299,250 4,313,338
Encumbered
as of 6/30/19
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
$
-
Uncommitted
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
$
-
114
COBB COUNTY SCHOOL DISTRICT SPLOST 4 - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2019
LOCATION/DESCRIPTION
Approved Budget
ACWORTH INTERMEDIATE
$
ADDISON ES
ADULT EDUCATION CENTER
ALLATOONA HS
ARGYLE ES
AUSTELL ES
AWTREY MS
BAKER ES
BAKER ROAD BUS SHOP
BARBER MS
BELLS FERRY ES
BELMONT HILLS ES
BIG SHANTY ES
BIRNEY ES
BLACKWELL ES
BRUMBY ES
BRUMBY REPLACEMENT ES
BRYANT ES
BULLARD ES
CAMPBELL HS
CAMPBELL MS
CHALKER ES
CHEATHAM HILL ES
CLARKDALE REPLACEMENT ES
CLAY ES
COBB CAREER ACADEMY
COMPTON ES
COOPER MS
DANIELL MS
DAVIS ES
DICKERSON MS
DODGEN MS
DOWELL ES
DUE WEST ES
DURHAM MS
EAST COBB MS
EAST COBB REPLACEMENT MS
EAST SIDE REPLACEMENT ES
EASTVALLEY ES
FAIR OAKS ES
FLOYD MS
FORD ES
FREY ES
GARRETT MS
GARRISON MILL ES
GREEN ACRES ES
GRIFFIN MS
HARMONY LELAND ES
HARMONY LELAND/CLAY REPLACEMENT ES
HARRISON HS
HAVEN @ HAWTHORNE
HAVEN AT SKY VIEW
HAWTHORNE CENTER
HAYES ES
HENDRICKS ES
HIGHTOWER TRAIL MS
HILLGROVE HS
HOLLYDALE ES
HORIZON HS
KEHELEY ES
KELL HS
KEMP ES
KENNESAW ES
KENNESAW MOUNTAIN HS
KENNESAW WAREHOUSE
KINCAID ES
KING SPRINGS ES
KING SPRINGS PRIMARY (K-1)
508,194 $ 2,332,467
143,982 285,769 247,408 212,135 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
2,519,268 580,902 788,445 386,339
1,418,099 613,703 327,289
2,908,159 1,479,566 6,500,000 3,816,562
361,762 85,000
Revised Budget
Expended Inception through 06/30/19
Expended FY19
Encumbered as of 06/30/19
Uncommitted
1,204,827 $ 1,173,135
371,448 2,571,405
730,079 770,441 1,226,816 1,669,071
35,767 1,227,006 1,314,397
992,848 1,281,375 1,455,672 1,088,831 1,171,829 27,100,771 1,289,593 1,438,478 18,968,480 6,351,579 1,032,124 2,627,308 1,066,659
890,937 29,557,911
1,240,947 1,372,956 1,521,033 1,116,035 1,543,861 3,711,172 1,457,816 1,088,328 1,269,497 1,068,185 38,690,778 1,290,392
937,303 1,304,833 1,190,245 1,406,536 2,691,290 1,158,998 1,186,714 2,219,179 3,143,935
955,469 10,083 28,246,956 20,827 876,205 247,875 5,785,658 1,850,991 3,763,893 3,164,192 1,124,036 915,860 1,083,847 2,520,635 1,272,239 1,024,713 2,972,980 13,946,179 993,572 1,296,923 143,963
1,204,827 $ 1,173,135
371,448 2,153,321
730,079 770,441 1,226,816 1,669,071
35,767 1,227,006 1,276,158
992,848 1,281,375 1,455,672 1,088,831 1,171,829 26,549,758 1,289,593 1,438,478 15,744,338 6,351,360 1,032,124 2,627,308 1,066,659
890,937 2,418,446 1,240,947 1,363,457 1,520,984 1,115,652 1,543,861 3,711,172 1,457,816 1,088,328 1,269,497 1,068,185 37,958,249 1,290,392
924,774 1,304,833 1,190,245 1,406,536 2,691,290 1,142,653 1,186,464 2,219,179 3,121,461
955,469 10,083
26,929,771 20,827
876,205 247,875 5,785,658 1,850,991 3,763,893 3,164,192 1,124,036 901,703 1,081,332 2,520,392 1,272,239 1,024,713 2,972,980 13,785,039 993,572 1,296,923 143,963
104,662 $ 377,026
6,736 185,763
27,735 32,795 24,756 68,631
71,349 24,192 272,657 23,781 35,617 62,892
1,039,562
39,564 97,331 1,106,120 57,262 61,940 278,476 36,705 209,407 1,993,005 351,389 73,882 86,793 132,982 50,561 85,167 33,754 339,531 77,770 10,582 840,533 90,024 27,883 31,585 72,038 29,109 30,954 32,029 55,806 264,352 48,875 22,172
21,405,081
154,195
7,229 (24,746) 81,958 33,195 125,155 27,103 202,462 44,968 106,427 32,415 57,740 136,257 1,601,264 63,175 43,789
-
-$ -
388,720 -
17,642 -
19,939 -
13,409,036 -
9,270 -
25,081 -
2,940 -
5,880 -
8,820 -
757,335 -
2,484 -
114,733 -
-
29,364 -
20,597 -
531,074 -
3,224,142 219 -
13,730,429 -
229 49
383 -
707,448 -
9,589 -
10,465 250 -
13,654 -
559,850 -
14,157 31
243 -
46,407 -
115
COBB COUNTY SCHOOL DISTRICT SPLOST 4 - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2019
LOCATION/DESCRIPTION
LABELLE ES LASSITER HS LEWIS ES LINDLEY 6TH GRADE ACADEMY LINDLEY MS LOST MOUNTAIN MS LOVINGGOOD MS MABLETON ES MABRY MS MAINTENANCE FACILITY ARGO ROAD MARS HILL ROAD BUS SHOP MARTHA MOORE EDUCATION CENTER MCCALL PRIMARY MCCLESKEY MS MCCLURE MS MCEACHERN HS MILFORD ES MOUNT BETHEL ES MOUNTAIN VIEW ES MOUNTAIN VIEW REPLACEMENT ES MURDOCK ES NICHOLSON ES NICKAJACK ES NORTH COBB HS NORTON PARK ES OSBORNE HS OSBORNE REPLACEMENT HS PALMER MS PEBBLEBROOK HS PICKETT'S MILL ES PINE MOUNTAIN MS PITNER ES PITTS TRANSPORTATION CENTER POPE HS POWDER SPRINGS ES POWERS FERRY ES RIVERSIDE INTERMEDIATE RIVERSIDE PRIMARY ROCKY MOUNT ES ROSE GARDEN RUSSELL ES SANDERS ES SANDERS ROAD BUS SHOP SEDALIA PARK ES SHALLOWFORD FALLS ES SIMPSON MS SMITHA MS SMYRNA ES SOPE CREEK ES SOUTH COBB HS SPRAYBERRY HS STILL ES SYSTEMWIDE TAPP MS TEASLEY ES TIMBER RIDGE ES TRITT ES VARNER ES VAUGHN ES WALTON HS WALTON REPLACEMENT HS WHEELER HS 440 GLOVER STREET 514 GLOVER STREET 560 GLOVER STREET 580 GLOVER STREET 650 SOUTH COBB DR TOTAL PROJECT EXPENDITURES
EXPENDITURES FUNDED BY TRANSFERS ***FUND TOTAL***
Approved Budget
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 3,744,478 2,695,904 23,330,216
319,277 2,306,880 2,258,194 23,328,254
756,708 3,290,500 29,900,000
25,663 4,438,112
28,870 2,677,281
128,710 30,000,000 20,943,137
624,080 189,873
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
534,845 3,490,899
320,873 600,441 1,493,167 39,946,400 22,124,756
717,844,707
$ 717,844,707 $
Revised Budget
1,116,346 20,341,451
1,711,690 876,166
1,274,139 8,944,408 1,533,158 1,367,146 2,072,137
37,874 45,831 14,682 683,196 2,346,242 1,447,787 11,196,228 784,864 1,308,655 735,372 31,763,583 1,117,265 899,796 1,740,723 28,982,627 1,339,032 2,629,142 61,694,516 1,370,829 5,560,768 1,096,374 1,009,847 1,207,565 27,212,035 29,185,725 2,018,000 625,960 1,414,427 888,058 908,881 13,012 1,042,633 1,120,930 1,622,645 1,446,508 1,570,989 1,152,951 1,770,030 801,052 1,565,346 13,488,412 2,676,594 1,173,217 14,244,855 1,252,620 5,554,611 964,961 1,578,689 1,674,446 1,063,190 1,008,360 96,254,201 28,179,332 12,351,959 8,810,946 192,124 204,088 284,754 715,001,896
Expended Inception through 06/30/19
1,116,346 14,119,762
1,704,905 871,578
1,261,135 8,944,408 1,533,158 1,366,933 2,065,825
37,874 45,831 14,682 683,054 2,334,237 1,447,787 11,137,630 784,864 1,300,451 735,372 31,763,583 1,117,265 899,796 1,738,295 28,850,828 1,339,032 2,629,142 26,729,271 1,370,543 5,458,515 1,091,440 1,009,847 1,207,565 27,190,922 28,142,596 2,018,000 625,960 1,414,427 888,058 908,881 13,012 1,042,633 1,120,930 1,622,645 1,446,508 1,570,989 1,152,951 1,770,030 800,853 1,565,346 13,488,390 2,676,594 1,173,217 9,445,363 1,252,620 5,541,960 964,961 1,578,689 1,674,446 1,063,190 1,008,360 88,903,407 28,177,499 9,489,415 8,305,178 192,124 204,088 284,754 623,205,406
715,001,896 $
623,205,406 $
Expended FY19
189,518 10,885,576
498,212 36,703 80,783 68,117 98,781 58,334 85,653 28,098 21,540 37,226
249,036 25,071 38,322 68,002 74,068 30,067 44,191
444,226 38,218
117,819 20,264,652
28,201 181,634
49,403 19,005 114,257 206,403 127,534 43,564 26,371 49,641 21,167 38,717
27,040 25,690 181,714 438,804 42,169 28,680 32,905 34,583 40,320 2,289,602 155,626 27,457 1,022,095 27,062 58,207 18,354 28,611 366,266 25,690
27,933,182
165,477 628,081 3,369,688
49,465 162,697
104,690,977
1,482,000 106,172,977
Encumbered as of 06/30/19
5,689,591
5,185 3,932
6,292 11,975 58,598 2,940 131,799 29,730,077 85,117 20,014 103,968 5,880 5,679,071 1,563 1,205,522 57,503,404
$
57,503,404
Uncommitted
532,098
1,600 656
13,004 -
213 20 -
142 30 -
5,264 -
2,428 -
5,235,168 286
17,136 4,934 1,099
939,161 -
199 -
22 -
4,799,492 -
6,771 -
1,671,723 270
1,657,022 505,768 -
34,293,086
$ 34,293,086
116
COBB COUNTY SCHOOL DISTRICT SPLOST 5 - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2019
LOCATION/DESCRIPTION
Approved Budget
ACWORTH INTERMEDIATE
$
ADDISON ES
ALLATOONA HS
ARGYLE ES
AUSTELL ES
AWTREY MS
BAKER ES
BARBER MS
BELLS FERRY ES
BELMONT HILLS ES
BIG SHANTY ES
BIRNEY ES
BLACKWELL ES
BRUMBY REPLACEMENT ES
BRYANT ES
BULLARD ES
CAMPBELL HS
CAMPBELL MS
CHALKER ES
CHEATHAM HILL ES
CLARKDALE REPLACEMENT ES
CLAY ES
COMPTON ES
COOPER MS
DANIELL MS
DAVIS ES
DICKERSON MS
DODGEN MS
DOWELL ES
DUE WEST ES
DURHAM MS
EAST COBB REPLACEMENT MS
EAST SIDE ES
EASTVALLEY ES
FAIR OAKS ES
FLOYD MS
FORD ES
FREY ES
GARRETT MS
GARRISON MILL ES
GREEN ACRES ES
GRIFFIN MS
HARMONY LELAND ES
HARMONY LELAND/CLAY REPLACEMENT ES
HARRISON HS
HAVEN AT SKY VIEW
HAYES ES
HENDRICKS ES
HIGHTOWER TRAIL MS
HILLGROVE HS
HOLLYDALE ES
HORIZON HS
KEHELEY ES
KELL HS
KEMP ES
KENNESAW MOUNTAIN HS
KENNESAW ES
KENNESAW WAREHOUSE
KINCAID ES
KING SPRINGS ES
KING SPRINGS PRIMARY (K-1)
KING SPRINGS REPLACEMENT ES
-$ -
Revised Budget
Expended Inception through 06/30/19
Expended FY19
Encumbered as of 6/30/19
Uncommitted
634,497 $ 249,719 435,710 408,117 397,751 792,406 638,701 702,808 170,506 143,274 510,066 589,546 960,229 145,463 808,197 769,601 37,432,600 369,354 604,639 740,092 216,794 141,075 170,368 985,294 236,191 504,291 753,947 261,961 657,303 158,293 232,815 162,662 807,638 453,611 612,959 236,044 547,158 1,153,149 219,054 494,756 190,224 875,121 411,643 36,639,741 552,220 112,833 629,754 558,686 243,183 505,698 563,506 165,659 498,104 405,643 667,535 532,417 601,815 2,404,118 544,834 201,173 82,716 38,586,246
626,806 $ 165,877 399,766 404,905 394,241 214,267 212,255 222,289 166,257 140,332 506,076 584,596 523,713 141,893 699,752 664,299 1,755,096 305,798 600,653 733,131 211,057 137,963 166,677 237,072 232,503 496,098 259,204 257,700 624,789 154,330 229,536 161,523 799,972 446,344 607,852 233,328 542,356 605,538 216,329 490,508 185,900 285,082 177,777 8,603,596 506,823 111,870 622,864 554,726 238,399 461,069 200,065 159,273 446,384 369,731 662,225 480,992 593,598 1,919,173 502,036 196,409 80,754 3,958,384
626,806 $ 165,877 399,766 404,905 394,241 214,267 212,255 222,289 166,257 140,332 506,076 584,596 523,713 141,893 699,752 664,299 1,755,096 305,798 600,653 733,131 211,057 137,963 166,677 237,072 232,503 496,098 259,204 257,700 624,789 154,330 229,536 161,523 799,972 446,344 607,852 233,328 542,356 605,538 216,329 490,508 185,900 285,082 177,777 8,603,596 506,823 111,870 622,864 554,726 238,399 461,069 200,065 159,273 446,384 369,731 662,225 480,992 593,598 1,919,173 502,036 196,409 80,754 3,958,384
-$ 55,000
486,378 5,484 401,384 78,107 541,861 35,395 487,988 18,062 517,298 226,835 19,897,754 352,674 20,848 24,236 29,975,558
7,691 28,842 35,944 3,212 3,510 91,761 420,962 79,135 4,249 2,942 3,990 4,950 436,516 3,570 30,338 105,302 35,135,643 28,161 3,986 6,961 5,737 3,112 3,691 748,222 3,688 8,193 6,755 4,261 14,452 3,963 3,279 1,139 7,666 7,267 5,107 2,716 4,802 547,611 2,725
4,248 4,324 72,741 7,031 8,138,391 45,397
963 6,890 3,960 4,784 44,629 10,767 6,386 30,872 35,912 5,310 51,425 8,217 484,945 18,562 4,764 1,962 4,652,304
117
COBB COUNTY SCHOOL DISTRICT SPLOST 5 - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2019
LOCATION/DESCRIPTION
LABELLE ES LASSITER HS LEWIS ES LINDLEY 6TH GRADE ACADEMY LINDLEY MS LOST MOUNTAIN MS LOVINGGOOD MS MABLETON ES MABRY MS MAINTENANCE FACILITY ARGO ROAD MCCALL PRIMARY MCCLESKEY MS MCCLURE MS MCEACHERN HS MILFORD ES MOUNT BETHEL ES MOUNTAIN VIEW ES MURDOCK ES NICHOLSON ES NICKAJACK ES NORTH COBB HS NORTON PARK ES OSBORNE HS OSBORNE REPLACEMENT HS PALMER MS PEBBLEBROOK HS PICKETT'S MILL ES PINE MOUNTAIN MS PITNER ES PITTS TRANSPORTATION CENTER POPE HS POWDER SPRINGS ES POWERS FERRY ES RIVERSIDE INTERMEDIATE RIVERSIDE PRIMARY ROCKY MOUNT ES RUSSELL ES SANDERS ES SEDALIA PARK ES SHALLOWFORD FALLS ES SIMPSON MS SMITHA MS SMYRNA ES SOPE CREEK ES SOUTH COBB HS SPRAYBERRY HS STILL ES SYSTEMWIDE SYSTEMWIDE UNALLOCATED TAPP MS TEASLEY ES TIMBER RIDGE ES TRITT ES VARNER ES VAUGHN ES WALTON REPLACEMENT HS WHEELER HS 440 GLOVER STREET 484 GLOVER SECOND DATA CENTER 514 GLOVER STREET TOTAL PROJECT EXPENDITURES
Approved
Budget
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
797,022,000 -
-
-
-
-
-
-
-
-
$
797,022,000 $
Revised Budget
509,882 496,540 164,075 530,226 1,037,226 740,346 758,626 253,718 226,054 234,718 394,008 235,985 260,496 531,630 542,015 652,705 207,936 680,502 494,622 250,984 649,689 597,757 361,574 174,015 295,598 55,718,998 616,307 193,074 211,136 492,500 483,424 190,132 361,219 714,835 452,840 521,013 638,366 600,400 585,916 197,620 646,730 699,238 709,456 786,585 529,334 21,830,006 208,269 43,614,552 474,333,718 223,214 557,242 427,745 304,182 736,060 618,909 4,054,430 566,604 1,800,040 3,419,470 25,216,001 797,022,000 $
Expended Inception through 06/30/19
468,565 453,252 160,412 161,954 248,297 236,413 270,492 247,011 221,384 35,235 389,051 214,166 256,249 488,778 460,472 646,751 202,367 671,150 456,388 245,092 586,568 571,638 320,668 167,963 251,134 899,388 610,779 189,651 206,167
87,376 440,489 185,621 357,285 703,596 408,145 505,362 629,986 595,286 197,928 193,390 217,265 246,052 698,922 779,380 480,726 426,461 200,736 2,316,111
220,376 199,539 423,984 199,803 631,674 609,935 537,595 511,014 212,158 108,829 2,480,499 64,032,769 $
Expended FY19
468,565 453,252 160,412 161,954 248,297 236,413 270,492 247,011 221,384 35,235 389,051 214,166 256,249 488,778 460,472 646,751 202,367 671,150 456,388 245,092 586,568 571,638 320,668 167,963 251,134 899,388 610,779 189,651 206,167
87,376 440,489 185,621 357,285 703,596 408,145 505,362 629,986 595,286 197,928 193,390 217,265 246,052 698,922 779,380 480,726 426,461 200,736 2,316,111
220,376 199,539 423,984 199,803 631,674 609,935 537,595 511,014 212,158 108,829 2,480,499 64,032,769
Encumbered
as of 6/30/19
24,049 -
-
273,565
-
402,825
476,921
814 53,474
-
-
-
-
-
-
19,799 -
15,499 2,027,533
-
193,382
-
-
-
-
24,523 10,764
362,132 381,050
-
-
-
925,162
-
-
344,690 -
-
539,875
44,093
21,234,080
$
80,479,092
Uncommitted
17,268 43,288
3,663 94,707 788,929 101,108 11,213 6,707 4,670 198,669 4,957 21,819 4,247 42,852 28,069 5,954 5,569 9,352 38,234 5,892 63,121 6,320 40,906
6,052 28,965 52,792,077
5,528 3,423 4,969 211,742 42,935 4,511 3,934 11,239 20,172 4,887 8,380 5,114 387,988 4,230 67,333 72,136 10,534 7,205 48,608 20,478,383 7,533 41,298,441 474,333,718 2,838 13,013 3,761 104,379 104,386 8,974 3,516,835 55,590 1,048,007 3,266,548 1,501,422 $ 652,510,139
118
(This page was left blank intentionally)
STATISTICAL SECTION (Unaudited)
This part of the District's Comprehensive Annual Financial Report presents detailed information as a context for understanding what the information in the financial statements, note disclosures and required supplementary information says about the District's overall financial position.
Contents
Financial Trends
These schedules contain trend information to help the reader understand how the District's financial performance has changed over time.
Revenue Capacity
These schedules contain information to help the reader understand and assess the District's most significant own-source revenue, the property tax.
Debt Capacity
These schedules present information to help the reader assess the affordability of the District's current level of outstanding debt and the District's ability to issue additional debt in the future.
Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader understand the environment within which the District's financial activities take place.
Operating Information
These schedules contain operating statistics, capital asset data, staffing information and key performance indicators to help the reader understand how the information in the District's financial report relates to the services the District provides and the activities it performs.
Sources: Unless otherwise noted, the information contained here is derived from comprehensive annual financial reports for the indicated years. The District began implementation of GASB Statement No. 54 as of July 1, 2010, implementation of GASB Statements No. 63 and 65 as of July 1, 2012, implementation of GASB Statements No. 68 and 71 as of July 1, 2014, and the implementation of GASB Statement No. 75 as of July 1, 2017.
119
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 GNETS
Unrestricted (Deficit)
Total Net Position
June 30, 2010 $ 1,054,911
Fiscal Year
June 30, 2011
June 30, 2012
$ 1,066,545 $ 1,230,853
June 30, 2013 $ 1,262,788
1,356 -
285,849
163,602
21,676 -
171,646
56,155 20,200
147,483
49,860 20,924
20 -
149,881
$ 1,342,116 $ 1,423,469 $ 1,454,691 $ 1,483,473
(1) Net position was restated due to the implementation of GASBS Nos, 68 and 71, effective July 1, 2014. (2) Net Position was restated due to the implementation of GASBS Nos. 75, effective July 1, 2017.
Source: District Records
120
June 30, 2014
June 30, 2015 (1)
Fiscal Year
June 30, 2016
June 30, 2017
June 30, 2018 (2)
June 30, 2019
$ 1,256,656 $ 1,329,345 $ 1,371,599 $ 1,444,579 $ 1,463,720 $ 1,534,914
110,228 19,213
3 157,363
$ 1,543,463 $
92,760 19,295
43 -
(710,349)
731,094 $
117,940
19,200 64 -
(701,830)
806,973 $
96,550 19,198
(731,265)
123,455
18,910 -
(1,625,362)
104,559 18,247
33 311 (1,536,928)
829,062 $
(19,277) $
121,136
121
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 Instructional 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 Interest Income Gain on Sale of Capital Assets Other Total General Revenues Extraordinary Item: Gain after Insurance Recovery
Change in Net Position
June 30, 2010
Fiscal Year
June 30, 2011
June 30, 2012
June 30, 2013
$
737,900
31,584
46,721
165,345
46,513
60,912
-
-
-
$ 1,088,975
$
689,680
30,563
48,853
152,083
43,563
56,608
-
28,930
93
$ 1,050,373
$
682,212
30,031
51,475
175,717
44,698
60,143
-
29,746
118
$ 1,074,140
$
685,671
27,093
53,389
156,481
46,888
70,437
-
28,525
-
$ 1,068,484
$
1,184 $
1,241 $
1,068 $
1,101
10
13
11
10
41,142 1,332 -
491,465 199
27,312 909
28,721 518,300
541
27,921 983
29,402 478,937
30,832
29,104 1,842
28,608 504,819
7,524
$
535,332 $
577,037 $
569,154 $
573,008
$ (553,643) $ (473,336) $ (504,986) $ (495,476)
$
470,456 $
423,694 $
405,965 $
400,271
52
43
-
-
112,395
113,739
122,557
121,008
2,323
1,475
1,079
-
2,979
3,070
2,076
1,632
-
-
516
-
953
2,962
4,015
1,347
$
589,158 $
544,983 $
536,208 $
524,258
512
-
-
-
$
36,027 $
71,647 $
31,222 $
28,782
Source: District Records
122
June 30, 2014
June 30, 2015
Fiscal Year
June 30, 2016
June 30, 2017
June 30, 2018
June 30, 2019
$
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
$
754,427
31,201
45,668
186,859
52,503
59,762
-
31,116
-
$ 1,161,536
$
834,731
36,683
49,846
202,694
56,325
66,763
397
31,075
-
$ 1,278,514
$
842,846
37,822
49,754
207,198
61,737
73,717
-
30,691
167
$ 1,303,932
$
833,448
37,209
53,378
196,042
61,112
74,614
-
31,664
871
$ 1,288,338
$
913 $
1,121 $
1,192 $
1,187 $
1,239 $
1,286
13
10
11
11
9
-
28,035 2,004
30,970 512,800
8,085
27,963 1,830
31,193 545,592
5,867
29,008 1,127
31,169 579,489
18,902
29,135 898
30,977 614,312
9,714
37,472 2,401
31,664 632,068
2,658
39,668 2,329
32,246 634,436
5,650
$
582,820 $
613,576 $
660,898 $
686,234 $
707,511 $
715,615
$ (472,040) $ (475,143) $ (500,638) $ (592,280) $ (596,421) $ (572,723)
$
404,759 $
421,043 $
443,533 $
473,864 $
504,117 $
546,318
-
-
-
-
-
-
121,712
126,923
128,980
132,036
137,708
144,769
-
-
-
-
-
-
1,697
1,352
1,242
1,754
3,741
6,832
175
-
-
1,694
-
12,335
3,687
1,769
2,762
5,021
1,964
2,882
$
532,030 $
551,087 $
576,517 $
614,369 $
647,530 $
713,136
-
-
-
-
-
-
$
59,990 $
75,944 $
75,879 $
22,089 $
51,109 $
140,413
123
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, 2010
Fiscal Year June 30, 2011 (a) June 30, 2012
June 30, 2013
$
5,823 $
-$
-$
-
79,783
-
-
-
-
324
353
674
-
-
-
-
-
-
-
-
-
46,256
34,396
59,272
-
99,863
98,637
75,349
$
85,606 $
146,443 $
133,386 $
135,295
All Other Governmental Funds
Reserved
$
Unreserved, reported in:
Special Revenues Funds
Capital Projects Funds
Nonspendable
Restricted
Committed
Assigned
Unassigned
Total All Other Governmental Funds $
67,008 $
22,966 108,716
198,690 $
-$
1,365 136,076 11,646 11,893 160,980 $
-$
1,706 76,355 11,883 4,737 94,681 $
-
1,848 70,804 12,577 2,289 87,518
(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.
(b) General Fund assigned fund balance increased to provide funding for the FY20 budget.
Source: District Records
124
June 30, 2014
June 30, 2015
Fiscal Year
June 30, 2016
June 30, 2017
June 30, 2018
June 30, 2019(b)
$
-$
-$
-$
-$
-$
-
-
-
-
-
-
-
676
844
1,004
2,151
980
828
-
-
-
-
-
-
5,000
10,000
8,200
-
-
-
47,596
31,050
20,342
15,023
30,535
66,131
89,510
90,588
74,840
96,064
109,206
120,705
$
142,782 $
132,482 $
104,386 $
113,238 $
140,721 $
187,664
$
-$
-$
-$
-$
-$
-
-
-
-
-
-
-
-
-
-
-
-
-
1,464
1,844
1,922
1,993
2,228
2,965
129,444
110,264
135,367
113,764
120,492
96,409
14,790
14,990
16,169
16,531
17,042
18,030
1,557
1,468
1,487
786
390
296
-
(9)
(5)
(556)
(24)
-
$
147,255 $
128,557 $
154,940 $
132,518 $
140,128 $
117,700
125
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
2010
$ 574,944 493,883 31,684 2,979 3 897 1,060
1,105,450
Fiscal Year
2011
2012
$ 540,938 520,316 54,410 3,070 466 3,320 2,753
1,125,273
$ 530,686 510,582 55,448 2,325 526 3,410 4,016
1,106,993
2013
$ 518,604 512,258 56,088 1,717 1,383 3,194 1,347
1,094,591
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
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
Excess (Deficiency) of Revenues Over (Under) Expenditures
40,491
14,651
(79,649)
(5,765)
Other Financing Sources (Uses): Transfers-In Transfers-Out Proceeds from Sale of Capital Assets
Total Other Financing Sources (Uses)
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)
Extraordinary Item: Proceeds from Insurance Recovery
3,952
-
-
-
Net Change in Fund Balances
$
43,778 $
13,421 $ (79,356) $
(5,801)
Non-Capitalized Expenditures Capitalized Expenditures Total Expenditures
Debt Service as a Percentage of Non-Capitalized Expenditures
$ 1,019,111 45,848
$ 1,064,959
$ 994,729 115,893
$ 1,110,622
$ 1,010,754 175,888
$ 1,186,642
$ 997,944 102,412
$ 1,100,356
-
-
-
-
(a) Proceeds from Sale of Capital Assets increased due to the sale of three District properties. Source: District Records
126
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
Fiscal Year
2016
2017
$ 572,621 599,546 59,022 1,516 647 2,749 2,481
1,238,582
$ 607,871 623,018 58,844 2,335 438 2,925 4,393
1,299,824
2018
$ 640,509 633,454 59,179 4,997 1,932 3,528 2,875
1,346,474
2019(a)
$ 690,882 635,892 61,670 10,658 1,861 3,576 2,882
1,407,421
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
720,608 29,098 44,343
185,351 47,943 66,190 465 31,116 -
115,357
1,240,471
742,594 32,321 46,318
189,124 49,963 68,023 31,075 -
157,248
1,316,666
754,423 33,709 46,397
188,486 52,463 69,767 30,691 -
135,180
167 1,311,283
790,474 36,064 55,056
190,102 55,815 71,635 31,664 -
170,419
871 1,402,100
67,642
(28,679)
(1,889)
(16,842)
35,191
5,321
1,218 (2,013)
377
(418)
1,993 (2,438)
126
(319)
4,041 (4,486)
621
176
4,908 (6,103) 4,467
3,272
7,882 (8,255)
275
(98)
3,582 (3,955) 19,567
19,194
-
$
67,224
$ 989,861 58,384
$ 1,048,245
-
-
-
-
$ (28,998) $
(1,713) $ (13,570) $
35,093
$ 1,051,784 143,527
$ 1,195,311
$ 1,119,674 120,797
$ 1,240,471
$ 1,157,363 159,303
$ 1,316,666
$ 1,176,768 134,515
$ 1,311,283
-
$
24,515
$ 1,233,971 168,130
$ 1,402,101
-
-
-
-
-
-
127
COBB COUNTY SCHOOL DISTRICT PROPERTY TAX LEVIES AND COLLECTIONS JUNE 30, 2019
Property Taxes Collected and Balances Receivable
2013
2014
2015
2016
2017
General Fund Collections
Balance Receivable
2018
amounts in thousands
$500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2019
Balances as of June 30, 2019 (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
2013
2014
2015
2016
2017
2018
2019
Total
$ 394,842 $ 385,590 $ 398,979 $ 413,425 $ 439,272 $ 468,387 $ 508,461 $ 3,008,956
391,485 383,051 397,194 411,807 437,484 466,239 505,912 2,993,172
99.15% 99.34% 99.55% 99.61% 99.59% 99.54% 99.50%
99.48%
$ 3,302 $ 2,480 $ 1,692 $ 1,483 $ 1,557 $ 1,525 $
- $ 12,039
394,787 385,531 398,886 413,290 439,041 467,764 505,912 3,005,211
$
55 $
59 $
93 $ 135 $ 231 $ 623 $ 2,549 $ 3,745
99.99% 99.98% 99.98% 99.97% 99.95% 99.87% 99.50%
99.88%
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
128
COBB COUNTY SCHOOL DISTRICT ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY LAST TEN FISCAL YEARS
amounts in thousands
Property Digest Components - Assessed Values
$30,000,000
$25,000,000
$20,000,000
$15,000,000
$10,000,000
$5,000,000
$0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Motor Vehicles Public Services Maint & Operations
(amounts expressed in thousands) Net M&O
For Maintenance & Operations of Schools
Fiscal Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Real Property 21,007,134 18,958,062 17,573,940 16,898,249 16,352,749 17,266,640 18,421,285 19,947,408 21,599,228 23,677,091
Personal Property
1,424,923 1,352,078 1,357,140 1,374,209 1,439,170 1,607,722 1,607,041 1,722,374 1,825,340 1,963,114
Public
Services Motor Vehicle
547,675 1,794,543
680,936 1,658,511
753,229 1,679,543
838,778 1,779,893
893,003 1,716,625
870,412 1,365,200
855,371
990,609
853,860
718,250
839,298
518,534
869,266
393,218
Total Assessed Value 24,774,275 22,649,587 21,363,852 20,891,129 20,401,547 21,109,974 21,874,306 23,241,892 24,782,400 26,902,689
Direct Rate 1.890% 1.890% 1.890% 1.890% 1.890% 1.890% 1.890% 1.890% 1.890% 1.890%
Estimated Actual Value
61,935,688 56,623,969 53,409,628 52,227,822 51,003,931 52,774,935 54,685,822 58,104,731 61,956,001 67,256,723
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
129
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 2010
2011
2012
2013
2014
School District
2015
2016
County Government
2017
2018
2019
(all tax rates are per $1000 assessed valuation)
Fiscal Year
2010 2011
School District Maint & Operations
18.90 18.90
Total Direct Rate
18.90 18.90
2012
18.90 18.90
2013
18.90 18.90
2014
18.90 18.90
2015
18.90 18.90
2016
18.90 18.90
2017
18.90 18.90
2018
18.90 18.90
2019
18.90 18.90
County Government General Fire District Debt Service Total County Rate
State of Georgia
Total Overlapping Rate
6.82
6.82
7.72
7.72
7.52
7.32
7.12
6.66
6.76
8.46
2.56
2.56
3.06
3.06
3.06
3.06
3.06
2.96
2.96
2.86
0.22
0.22
0.33
0.33
0.33
0.33
0.33
0.23
0.13
0.13
9.60
9.60 11.11 11.11 10.91 10.71 10.51
9.85
9.85 11.45
0.25
0.25
0.25
0.20
0.15
0.10
0.05
-
-
-
9.85
9.85 11.36 11.31 11.06 10.81 10.56
9.85
9.85 11.45
Additional Overlapping Rates
City of Acworth
7.60
7.60
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
4.00
4.00
3.06
3.06
3.06
3.25
3.25
City of Kennesaw
9.50
9.50
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
9.50
City of Smyrna
8.99
8.99
8.99
8.99
8.99
8.99
8.99
8.99
8.99
8.99
Note: Maintenance and operations tax for schools has a cap of 18.90 mils.
Source: Cobb County Government, Georgia Department of Revenue
130
COBB COUNTY SCHOOL DISTRICT PRINCIPAL PROPERTY TAXPAYERS DECEMBER 31, 2018 AND NINE YEARS AGO
Principal Property Taxpayers - 2018
6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00%
GC Net Lease UK Lasalle Inc. Piedmont Galleria LLC/OTR Walton Properties Cobb EMC Lockheed Martin Corp AT&T/Bellsouth Home Depot Georgia Power
Taxpayer Georgia Power Home Depot AT&T/Bellsouth Lockheed Martin Corp Cobb EMC Walton Properties Galleria LLC/OTR Piedmont UK Lasalle Inc. GC Net Lease SP4 Windy Ridge LP Ohio Teacher Retirement Fund Wells REIT II Wildwood Properties Diversity Development Properties Diamondrock Waverly Owner, LLC
TOTAL
Type of Business Utilities Retail Telecommunications Aircraft Utilities Real Estate Real Estate Medical Real Estate Real Estate Real Estate Investment Real Estate Real Estate Real Estate
December 31, 2018
Percent
of Total
Taxes
Taxes
Rank Levied
Levied
1 $ 9,565,110
1.881%
2
4,275,232
0.841%
3
2,475,575
0.487%
4
2,075,010
0.408%
5
1,828,729
0.360%
6
1,767,449
0.348%
7
1,479,960
0.291%
8
1,424,909
0.280%
9
1,312,459
0.258%
10
1,234,608
0.243%
December 31, 2009
Percent
of Total
Taxes
Taxes
Rank Levied
Levied
2 $ 2,865,929
0.612%
1
3,857,834
0.824%
5
1,756,440
0.375%
7
1,629,013
0.348%
4
1,901,473
0.406%
3
2,113,636
0.451%
6
1,718,236
0.367%
8
1,471,884
0.314%
9
1,304,260
0.279%
10
1,201,984
0.257%
$ 27,439,041
5.397%
$ 19,820,689
4.233%
Note: School millage rate is 62% of total county rate. Total taxes levied are multiplied by 62% to arrive at amount of school taxes.
Information is available only by calendar year; therefore, data reported is for December 31, 2018 and nine years earlier, December 31, 2009 Source: Office of Tax Commissioner, Cobb County, GA
131
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
2010 $ 2,477,428
$ 2,477,428
-
2011 $ 2,264,959
$ 2,264,959
-
Fiscal Year
2012
2013
$ 2,136,385 $ 2,089,113
-
-
2014 $ 2,040,157
-
$ 2,136,385 $ 2,089,113 $ 2,040,157
-
-
-
Debt Limit Total debt applicable to limit
2015 $ 2,110,997
-
2016 $ 2,187,433
-
Fiscal Year 2017
$ 2,324,189
-
2018 $ 2,478,240
-
2019 $ 2,690,269
-
Legal Debt Margin
Total debt applicable as a percentage of debt limit
$ 2,110,997 -
$ 2,187,433 -
$ 2,324,189 $ 2,478,240 $ 2,690,269
-
-
-
Source: District Records
132
COBB COUNTY SCHOOL DISTRICT LEGAL DEBT MARGIN INFORMATION FISCAL YEAR 2019
Legal Debt Information - Fiscal Year 2019
$0
$2,690,268,905
Total Amount of Debt Applicable to Debt Limit Legal Debt Margin
(amounts expressed in thousands)
Net Assessed Valuation, Cobb County School District, January 1, 2018
$
26,902,689,045
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
$
2,690,268,905
$
-
$
-
$
2,690,268,905
133
COBB COUNTY SCHOOL DISTRICT RATIOS OF OUTSTANDING DEBT BY TYPE LAST TEN FISCAL YEARS
Debt Per Capita
50
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
(amounts expressed in thousands, except per capita)
Total
General
Primary
Fiscal Obligation
Capital
Government
Year
Bonds
Leases
Debt
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Annual Personal Income
30,016,575 30,246,898 31,981,653 33,662,185 34,419,921 36,192,750 36,400,450 38,385,767 40,281,455 43,263,716
Population
618,206 633,084 642,143 649,141 658,101 670,967 682,267 687,209 694,706 696,059
Debt as a Percentage of Personal
Income
-
Notes: Cobb County School District information based on fiscal years beginning July 1 and ending June 30. Demographic and economic data provided by calendar year.
Population of 696,059 provided by the US Census Bureau (July 1, 2018 estimate); excludes the City of Marietta.
Annual Personal Income data is as of December 31st of the fiscal year.
NA - Information not available at time of publication.
Sources: District Records, Annual Personal Income: US Department of Commerce Bureau of Economic Analysis.
134
Total Debt Per Capita
-
COBB COUNTY SCHOOL DISTRICT RATIO OF NET GENERAL BONDED DEBT TO ESTIMATED ACTUAL VALUE AND NET BONDED DEBT PER CAPITA LAST TEN FISCAL YEARS
100.00%
Ratio of Net Bonded Debt to Estimated Actual Value
90.00%
80.00%
70.00%
60.00%
50.00%
40.00%
30.00%
20.00%
10.00%
0.00% 2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Fiscal Year
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Population
618,206 633,084 642,143 649,141 658,101 670,967 682,267 687,209 694,706 696,059
Estimated Actual Value
61,935,688,000 56,623,969,000 53,409,628,000 52,227,822,000 51,003,931,000 52,774,935,000 54,685,822,000 58,104,731,000 61,956,000,536 67,256,722,613
Gross Bonded Debt
-
Restricted for Bonded
Debt
1,356,000 -
Note: All general obligation bonds were retired in fiscal year 2007. Population provided by US Census Bureau (2018 estimate); excludes the City of Marietta.
Net Bonded
Debt
Ratio of Net Net Bonded Debt Bonded
to Est. Debt Per Actual Value Capita
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
135
COBB COUNTY SCHOOL DISTRICT COMPUTATION OF DIRECT AND OVERLAPPING GENERAL OBLIGATION DEBT JUNE 30, 2019
Direct and Overlapping Debt Per Capita
$0
$24
Direct: Cobb County Schools
Indirect: Cobb County Government
Direct General Obligation Debt: Gross Bonded Debt
$
-$
-
Overlapping General Obligation Debt: Cobb County Government (98% of $17,290,000)
Total Direct and Overlapping General Obligation Debt
Debt Per Capita:* Direct General Obligation Debt Overlapping General Obligation Debt Total
$ 16,944,200 $
$
16,944,200 16,944,200
$
-
24
$
24
*Population of 696,059 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.
136
COBB COUNTY SCHOOL DISTRICT COBB COUNTY DEMOGRAPHIC AND ECONOMIC STATISTICS LAST TEN CALENDAR YEARS
800,000
Cobb County Population Growth
750,000
700,000
650,000
600,000
550,000
500,000 2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
Calendar Year
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Population
684,776 689,655 697,277 707,277 717,190 730,981 741,334 748,150 755,754 756,865
Personal Income (In Thousands)
30,016,575 30,246,898 31,981,653 33,662,185 34,419,921 36,192,750 36,400,450 38,385,767 40,281,455 43,263,716
Per Capita Personal Income
43,834 43,858 45,866 47,594 47,993 49,513 49,101 51,308 53,300 57,162
Median Household
Income
63,514 59,896 57,995 65,423 66,300 68,656 70,246 70,947 75,654 78,894
Median Age
34.8 35.4 35.6 35.4 36.1 36.2 36.3 36.5 36.6 36.7
Active Student Enrollment
106,488 106,836 106,502 107,914 109,529 111,060 111,848 112,412 111,482 111,386
Unemployment Rate
8.8% 9.7% 8.9% 8.0% 7.1% 6.0% 5.0% 4.6% 4.4% 3.7%
Notes: Student Enrollment is based on the data for the end of the school year which is subsequent to the calendar year end.
NA - Information not available at time of publication.
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.
137
COBB COUNTY SCHOOL DISTRICT PRINCIPAL EMPLOYERS CURRENT YEAR AND NINE YEARS AGO
Principal Employers - 2018
70,000 60,000 50,000 40,000 30,000 20,000 10,000
-
Kroger Co. Six Flags Over Georgia Brand Energy & Infrastructure Holdings Publix Super Markets Cobb County Government Lockheed Martin Kennesaw State University Wellstar Health System Home Depot Cobb County School District
Employer Cobb County School District Home Depot Wellstar Health System Kennesaw State University Lockheed Martin Cobb County Government Publix Super Markets Brand Energy & Infrastructure Holdings Six Flags Over Georgia Kroger Co. Ryla Teleservices Inc Dobbins Air Force Base Walmart
Total
Rank 1 2 3 4 5 6 7 8 9 10
2018
Employees 13,640 12,000 11,596 5,980 5,100 5,086 3,619 2,803 2,772 2,523
65,119
Percentage of Total County
Employment 3.31% 2.91% 2.81% 1.45% 1.24% 1.23% 0.88% 0.68% 0.67% 0.61%
15.79%
Rank 1 5 2 7 3 4 5
10
6 9 8
2009
Employees 15,653 6,400 9,142 3,107 7,028 5,288 4,207
Percentage of Total County
Employment 4.58% 1.87% 2.68% 0.91% 2.06% 1.55% 1.23%
2,506
0.73%
3,932 2,521 2,750
62,534
1.15% 0.74% 0.80%
18.30%
Information is available by calendar year; therefore, data reported is for years ended December 31, 2018, and nine years earlier, December 31, 2009. Principal Employers within the county provided by 2018 and 2009 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
138
COBB COUNTY SCHOOL DISTRICT COMPARISON OF METROPOLITAN ATLANTA SCHOOL DISTRICT PROPERTY TAX RATES JUNE 30, 2019
METRO ATLANTA SCHOOL DISTRICT TAX RATES
25.000
20.000
15.000
10.000
5.000
0.000
Atlanta Clayton Cobb Dekalb Douglas Fulton Gwinnett Marietta Rockdale City County County County County County County City County
Atlanta City Fulton County
Clayton County Cobb County Gwinnett County Marietta City
Dekalb County Douglas County Rockdale County
(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 20.740 20.000 18.900 23.180 20.900 18.546 21.750 17.970 24.900
Source: Georgia Department of Revenue
Maintenance & Operations
20.740 20.000 18.900 23.180 19.700 18.546 19.800 17.970 24.900
Debt Service 0.000 0.000 0.000 0.000 1.200 0.000 1.950 0.000 0.000
139
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 2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
(dollars expressed in millions)
Calendar Year Ended
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Bank Deposits (a)
10,542 9,468 9,490
10,269 10,933 11,936 13,769 13,797 15,216 15,633
Single-Family
Residences (b)
Number
Market
of Units
Value
434
99
491
114
597
161
734
204
1,077
316
938
277
923
314
939
311
943
290
982
297
Total New
Construction (b)
Number
Market
of Permits
Value
5,102
349
5,594
410
5,587
656
5,667 6,320 7,352 5,596
581 711 596 1,078
5,725 9,825 10,758
1,371 994 976
Estimated Actual Value of Taxable Property (c)
61,936 56,624 53,410 52,227 51,004 52,775 54,686 58,105 61,956 67,257
(a) Bank deposits as of June 30, 2009, supplied by the Georgia Department of Banking and Finance. Bank deposits June 30, 2010 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.
Source: Cobb County Tax Commissioner.
140
COBB COUNTY SCHOOL DISTRICT PROPERTY DIGEST REDUCTIONS DUE TO EXEMPTIONS LAST TEN FISCAL YEARS
amounts in thousands
$35,000,000
Digest Reductions Compared to Gross Property Digest
$30,000,000
$25,000,000
$20,000,000
$15,000,000
$10,000,000
$5,000,000
$0 2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Gross Property Digest
Personal Property Exemption
Elderly Exemption
Homestead Exemption
(amounts expressed in thousands)
Fiscal Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Homestead Exemption
1,160,256 1,133,942 1,086,141 1,041,831
999,067 965,937 935,568 918,620 903,943 889,782
Elderly Exemption
3,374,955 3,308,523 3,305,864 3,299,172 3,420,226 3,755,620 4,177,064 4,764,134 5,350,772 5,921,610
Disabled Residents Exemption
15,389 15,208 14,608 15,660 16,281 18,132 21,587 26,027 31,221 40,762
Personal Property Exemption
1,159,876 1,501,213 1,274,139 1,175,141 1,196,382 1,068,067 1,249,680 1,330,396
793,748 704,910
Conservation Exemption 82,041 66,204 53,464 52,676 53,574 53,146 54,339 59,702 66,325 72,640
Total Digest Reductions 5,792,517 6,025,090 5,734,216 5,584,480 5,685,530 5,860,902 6,438,238 7,098,879 7,146,009 7,729,704
Gross Property
Digest 30,566,792 28,674,677 27,098,067 26,475,609 26,087,102 26,970,876 28,312,566 30,340,771 31,928,409 34,632,393
Reductions as Percent of Gross
Digest 18.95% 21.01% 21.16% 21.09% 21.79% 21.73% 22.74% 23.40% 22.38% 22.32%
Source: Cobb County Office of Tax Commissioner
141
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 2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Fiscal Year
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Professional Personnel (a)
9,272 8,378 8,290 8,008 7,907 8,036 8,050 8,099 8,092 8,141
Other Operating Personnel (b)
3,046 2,841 2,970 2,896 2,821 2,769 2,943 2,953 2,587 2,604
Service Personnel (c)
2,994 2,857 2,847 2,813 2,834 2,949 2,599 2,613 2,927 2,895
Total Personnel
15,312 14,076 14,107 13,717 13,562 13,754 13,592 13,665 13,606 13,640
Active Student Enrollment
106,488 106,836 106,502 107,914 109,529 111,060 111,848 112,412 111,482 111,386
Ratio of Pupils to Professional Personnel
11.5 to 1 12.8 12.8 13.5 13.9 13.8 13.9 13.9 13.8 13.7
(a) Professional personnel consists of all certified personnel including teachers, librarians, counselors, supervisors, consultants, coordinators, principals, assistant principals and other leadership personnel.
(b) Other operating personnel includes non-certified leadership personnel, classroom aides, secretarial and clerical employees, and other technicians.
(c) Service personnel includes food service personnel, custodial employees, bus drivers and maintenance/warehouse employees.
Source: District Records
142
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 2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Fiscal Year
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Expenses
1,088,975,000 1,050,373,000 1,074,140,000 1,068,484,000 1,054,860,000 1,088,719,000 1,161,536,000 1,278,514,000 1,303,932,000 1,288,338,000
Active Student Enrollment
106,488 106,836 106,502 107,914 109,529 111,060 111,848 112,412 111,482 111,386
Cost Per Pupil Enrolled
10,226 9,832
10,086 9,901 9,631 9,803
10,385 11,373 11,696 11,566
Percentage of
Change
-3.86% 2.58% -1.83% -2.73% 1.79% 5.94% 9.52% 2.84% -1.11%
Professional Personnel
9,272 8,378 8,290 8,008 7,907 8,036 8,050 8,099 8,092 8,141
Ratio of Pupils to Professional Personnel
11.5 to 1 12.8 12.8 13.5 13.9 13.8 13.9 13.9 13.8 13.7
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
143
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 2010 2011 2012 2013 2014 2015 2016
Other
Capital Outlay
Business Serv.
School & Admin.
2017 2018 Pupil Services
2019 Instruction
(amounts expressed in thousands)
Fiscal
Pupil
Year Instruction Services
School & Administrative
Services
Business Services
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
$ 671,102 $ 18,513 $ 635,497 16,755 641,662 17,330 632,579 17,502 628,652 19,489 679,320 19,248 719,560 25,478 742,169 24,385 754,822 27,891 802,325 27,645
74,888 72,761 78,172 77,821 78,407 84,588 103,673 106,625 113,283 112,484
$ 97,049 93,103 93,237
100,191 103,311 106,063 110,845 114,446 118,690 124,249
Capital Outlay Other
$ 1,484 $
-
3,522
-
9,214
-
6,659
-
4,346 3,769
1,489 458
2,546
465
1,510
-
3,119
-
6,474
-
Total
$ 863,036 821,638 839,615 834,752 835,694 893,446 962,567 989,135
1,017,805 1,073,177
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
144
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 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
(amounts expressed in thousands)
Fiscal Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Local Taxes $ 462,518
427,174 408,123 397,592 405,970 421,814 443,641 475,835 502,801 546,113
Intergovernmental
$
404,856
431,352
391,997
415,168
431,907
459,181
490,747
519,721
543,085
545,342
Interest Income
$
2,475
2,410
1,981
1,562
1,637
1,294
1,189
1,662
3,352
6,473
Other $ 1,830
1,091 1,092 2,406 4,991 2,935 1,751 2,188 3,801 4,161
Total $ 871,679
862,027 803,193 816,728 844,505 885,224 937,328 999,406 1,053,039 1,102,089
Other includes Tuition & Fees, Insurance & Damage Recoveries, Rentals and Other Revenues. Source: District Records
145
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
100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%
Fiscal Year
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Debt Service Fund Expenditures
-
General Fund Expenditures
863,036,000 821,638,000 839,615,000 834,752,000 835,694,000 893,446,000 962,567,000 989,135,000 1,017,805,000 1,073,177,000
Note: Debt Service was fully paid by the end of fiscal year 2007.
Source: District Records
146
Ratio of Debt Service Fund to General Fund
Expenditures
0.00% 0.00% 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% 195019571961196219641969197319771979198119851987198919911995199719982003200820132017
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
2017 797,022,000
Maturity 1970 1977 1980 1983 1994 1990 1994 1996 1997 1997 1997 2001 2002 2004 2007 2002 2003 2008 2013 2018 2023
Action Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Failed Passed 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 25,160
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 8,902
Void 17 31 38 36 63 5 10 22
219 103
65 126 268 142 177 545
44 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 34,106
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% 73.87%
Note: 1997, 1998, 2003, 2008, 2013 and 2017 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.
147
COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS
School Name
Acworth Intermediate (2001) Square Feet Capacity Enrollment
Addison (1989) Square Feet Capacity Enrollment
Argyle (1961) Square Feet Capacity Enrollment
Austell (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
Brumby Replacement (2018) Square Feet Capacity Enrollment
Bryant (1991) Square Feet Capacity Enrollment
Bullard (2003) Square Feet Capacity Enrollment
Chalker (1997) Square Feet Capacity Enrollment
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
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
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
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
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
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
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
131,924 913 697
81,334 662 619
56,904 537 410
85,236 562 569
106,694 987 774
83,098 712 702
68,409 562 340
84,461 837 702
105,886 912 792
111,299 837 721
49,828 412 -
99,181 912
1,002
-
116,071 962 993
136,261 987 873
124,148 963 673
131,924 913 717
81,334 662 610
56,904 537 452
85,236 562 518
106,694 987 789
83,098 712 697
68,049 562 356
84,461 837 617
105,886 912 893
111,299 837 744
49,828 412 -
99,181 912 942
-
116,071 962
1,015
136,261 987 805
124,148 963 656
131,924 913 671
81,334 662 631
56,904 537 427
85,326 562 486
106,694 987 791
83,098 712 717
68,049 562 348
84,461 837 600
105,886 912 854
111,299 837 747
49,828 412 -
99,181 912 910
-
116,071 962
1,013
136,261 987 835
124,148 963 644
131,924 913 662
81,334 662 604
56,904 537 364
85,326 562 464
106,694 987 863
83,098 712 768
68,049 562 358
84,461 837 530
105,886 912 822
111,299 837 697
49,828 412 -
-
168,576 1,062 942
116,071 962
1,031
136,261 987 827
124,148 963 673
148
COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS
School Name
Cheatham Hill (1997) Square Feet Capacity Enrollment
Clarkdale (1963) (a) Square Feet Capacity Enrollment
Clarkdale Replacement (2012) Square Feet Capacity Enrollment
Clay (1961) Square Feet Capacity Enrollment
Compton (1969) Square Feet Capacity Enrollment
Davis (1987) Square Feet Capacity Enrollment
Dowell (1989) Square Feet Capacity Enrollment
Due West (1957) Square Feet Capacity Enrollment
East Side (1952) Square Feet Capacity Enrollment
East Side Replacement (2011) Square Feet Capacity Enrollment
Eastvalley (1960) Square Feet Capacity Enrollment
Fair Oaks (1957) Square Feet Capacity Enrollment
Ford (1991) Square Feet Capacity Enrollment
Frey (1996) Square Feet Capacity Enrollment
Garrison Mill (1984) Square Feet Capacity Enrollment
Green Acres (1996) Square Feet Capacity Enrollment
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
122,260 937
1,084
407
-
51,930 437 535
100,586 912 485
87,763 787 557
106,003 962 996
71,112 612 538
77,918 787
1,031
-
58,150 562 619
98,789 862 839
91,129 837 863
124,148 962 670
85,775 687 724
90,915 687 712
122,260 937
1,115
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
137,108 1,063 1,123
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
137,108 1,063 1,149
-
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
137,108 1,063 1,112
-
129,988 862 631
55,412 437 381
99,427 937 559
86,131 788 584
106,003 963 922
70,367 587 594
-
149,764 1,087 1,304
60,029 562 692
97,993 863 898
91,129 862 681
125,717 963 742
85,775 688 675
90,915 688 767
137,108 1,063 1,094
-
129,988 862 724
55,412 437 396
99,427 937 590
86,131 788 578
106,003 963 942
70,367 587 626
-
149,764 1,087 1,268
60,029 562 691
97,993 863 960
91,129 862 717
125,717 963 746
85,775 688 690
90,915 688 732
137,108 1,063 1,110
-
129,988 862 726
55,412 437 407
99,427 937 576
86,131 788 568
106,003 963
1,013
70,367 587 627
-
149,764 1,087 1,266
60,029 562 693
97,993 863 956
91,129 862 723
125,717 963 783
85,775 688 672
90,915 688 737
137,108 1,063 1,131
-
129,988 863 798
55,412 437 395
88,079 788 559
86,131 788 572
106,003 963 973
70,367 587 635
-
149,764 1,087 1,298
60,029 562 720
97,993 863 961
91,129 862 805
125,717 963 817
85,775 688 674
90,915 688 706
137,108 1,063 1,116
137,108 1,063 1,087
-
-
-
-
-
-
129,988 863 813
129,988 863 811
55,412 437 391
55,412 437 406
88,079 788 546
88,079 788 497
86,131 788 573
86,131 788 608
106,003 963 980
106,003 963 992
70,367 587 617
70,367 587 576
-
-
-
-
-
-
149,764 1,087 1,288
149,764 1,087 1,256
60,029 562 727
60,029 562 709
97,993 863 894
97,993 863 841
91,129 862 838
91,129 862 842
125,717 963 805
125,717 963 830
85,775 688 698
85,775 688 699
90,915 688 704
90,915 688 628
Continued---
149
COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS
School Name
Harmony Leland (1951) Square Feet Capacity Enrollment
Hayes (1993) Square Feet Capacity Enrollment
Hendricks (2001) Square Feet Capacity Enrollment
Hollydale (1968) Square Feet Capacity Enrollment
Keheley (1986) Square Feet Capacity Enrollment
Kemp (2002) Square Feet Capacity Enrollment
Kennesaw (1991) Square Feet Capacity Enrollment
Kincaid (1972) Square Feet Capacity Enrollment
King Springs (1956) Square Feet Capacity Enrollment
LaBelle (1955) Square Feet Capacity Enrollment
Lewis (1986) Square Feet Capacity Enrollment
Mableton (1950) Square Feet Capacity Enrollment
Mableton Replacement (2012) Square Feet Capacity Enrollment
McCall Primary (2005) Square Feet Capacity Enrollment
Milford (1954) Square Feet Capacity Enrollment
Mount Bethel (1978) Square Feet Capacity Enrollment
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
85,764 512 544
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
85,764 512 582
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
65,127 512 591
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
65,127 512 678
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
65,127 512 699
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
65,127 512 721
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
65,127 512 686
119,189 962 883
123,025 962 568
89,012 862 667
70,537 588 529
123,000 962 995
116,400 962 639
83,969 762 702
59,658 587 913
82,912 688 530
115,363 962 656
-
148,523 962
1,023
88,158 562 407
73,352 612 467
110,096 937
1,119
65,127 512 672
119,189 962 850
123,025 962 584
89,012 862 649
70,537 588 508
123,000 962 953
116,400 962 601
83,969 762 699
59,658 587 944
82,912 688 480
115,363 962 597
-
148,523 962
1,064
88,158 562 375
73,352 612 461
110,096 937
1,132
65,127 512 642
119,189 962 900
123,025 962 645
89,012 862 616
70,537 588 509
123,000 962 988
116,400 962 627
83,969 762 714
59,658 587
1,047
82,912 688 430
115,363 962 547
-
148,523 962
1,034
88,158 562 360
73,352 612 424
110,096 937
1,118
65,127 512 616
119,189 962 923
123,025 962 585
89,012 862 615
70,537 588 489
123,000 962 972
116,400 962 652
83,969 762 683
59,658 587
1,097
82,912 688 438
115,363 962 556
-
148,523 962
1,047
88,158 562 359
73,352 612 374
110,096 937
1,122
150
COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS
School Name
Mountain View (1986) Square Feet Capacity Enrollment
Murdock (1975) Square Feet Capacity Enrollment
Nicholson (1990) Square Feet Capacity Enrollment
Nickajack (1998) Square Feet Capacity Enrollment
Norton Park (1961) Square Feet Capacity Enrollment
Pickett's Mill (2008) Square Feet Capacity Enrollment
Pitner (2003) Square Feet Capacity Enrollment
Powder Springs (1988) Square Feet Capacity Enrollment
Powers Ferry (1951) Square Feet Capacity Enrollment
Riverside Primary (2005) Square Feet Capacity Enrollment
Riverside Intermediate (2001) Square Feet Capacity Enrollment
Rocky Mount (1977) Square Feet Capacity Enrollment
Russell (1961) Square Feet Capacity Enrollment
Sanders (1997) Square Feet Capacity Enrollment
Sedalia Park (1956) Square Feet Capacity Enrollment
Shallowford Falls (1990) Square Feet Capacity Enrollment
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
102,725 862 833
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
102,725 862 848
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
102,725 887 853
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
102,725 887 840
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
102,725 887 837
123,233 962 859
75,800 637 500
122,342 937
1,130
87,935 837 808
139,090 963 736
136,261 962 909
101,870 888 807
59,190 462 448
85,236 562 710
123,000 962
1,101
71,408 612 602
104,362 962 704
116,302 862 809
99,735 888 815
112,620 962 654
102,725 887 853
123,233 962 896
75,800 637 516
122,342 937
1,115
87,935 837 916
139,090 963 750
136,261 962 888
101,870 888 824
59,190 462 436
85,236 562 671
123,000 962
1,182
72,896 612 622
104,362 962 697
116,302 862 827
99,735 888 845
112,620 962 669
102,725 887 837
123,233 962 937
75,800 637 544
122,342 937
1,054
87,935 837 950
139,090 963 732
136,261 962 892
101,870 888 815
59,190 462 446
85,236 562 639
123,000 962
1,220
72,896 612 613
104,362 962 699
116,302 862 774
99,735 888 866
112,620 962 640
102,725 887 755
123,233 962
1,019
75,800 637 538
122,342 937
1,068
87,935 837 917
139,090 987 761
136,261 962 966
101,870 888 838
59,190 462 437
85,236 562 613
123,000 962
1,221
72,896 612 584
104,362 962 688
116,302 862 747
99,735 912 868
112,620 962 663
144,362 962 772
144,362 962 848
123,233 962
1,012
123,233 962 973
75,800 637 534
75,800 637 520
122,342 937
1,104
122,342 937
1,151
87,935 837 901
87,935 837 870
139,090 987 764
139,090 987 751
136,261 962 913
136,261 962 876
101,870 888 777
101,870 888 770
59,190 462 482
59,190 462 464
85,236 562 534
85,236 562 551
123,000 962
1,147
123,000 962
1,109
72,896 612 610
72,896 612 595
104,362 962 666
104,362 962 648
116,302 862 732
116,302 862 727
99,735 912 850
99,735 912 755
112,620 962 713
112,620 962 728
Continued---
151
COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS
School Name
Sky View (1957) (b) Square Feet Capacity Enrollment
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
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
50,270 462 399
-
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
50,270 462 373
-
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
50,270 462 400
-
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
-
-
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
-
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
-
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
-
143,107 962 962
133,344 1,162 1,164
117,539 963 784
107,837 812 804
73,450 612 616
109,769 937 907
109,827 962 714
122,260 937 666
156,660 1,037 838
178,465 1,162 936
220,228 1,338 1,407
170,905 1,162 942
177,356 1,163 945
166,048 1,187 1,271
183,798 1,212 1,249
-
143,107 962 991
133,344 1,162 1,166
117,539 963 783
108,100 837 874
73,450 612 606
109,769 937 912
109,827 963 719
122,260 937 722
156,660 1,037 861
178,465 1,162 903
220,228 1,338 1,426
170,905 1,162 1,001
177,356 1,163 989
166,048 1,187 1,271
183,798 1,212 1,268
-
143,107 962
1,004
133,344 1,162 1,216
117,539 963 768
108,100 837 871
73,450 612 573
109,769 937 906
109,827 963 787
122,260 937 772
156,660 1,037 818
178,465 1,162 915
220,228 1,338 1,495
170,905 1,162 1,044
177,356 1,163 1,055
166,048 1,187 1,293
183,798 1,212 1,242
-
143,107 962
1,051
133,344 1,162 1,165
117,539 963 756
108,100 837 892
73,450 612 563
109,769 937 915
109,827 963 789
122,260 937 764
156,660 1,037 794
178,465 1,162 922
220,228 1,338 1,552
170,905 1,162 1,068
177,356 1,163 1,068
166,048 1,187 1,315
183,798 1,212 1,261
152
COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS
School Name
Durham (1998) Square Feet Capacity Enrollment
East Cobb (1963) Square Feet Capacity Enrollment
Floyd (1964) Square Feet Capacity Enrollment
Garrett (1972) Square Feet Capacity Enrollment
Griffin (1972) Square Feet Capacity Enrollment
Hightower Trail (1993) Square Feet Capacity Enrollment
Lindley 6th Grade Academy (1962) Square Feet Capacity Enrollment (b)
Lindley (2001) Square Feet Capacity Enrollment
Lost Mountain (1992) Square Feet Capacity Enrollment
Lovinggood (2006) Square Feet Capacity Enrollment
Mabry (1978) Square Feet Capacity Enrollment
McCleskey (1983) Square Feet Capacity Enrollment
McClure (2006) Square Feet Capacity Enrollment
Palmer (2001) Square Feet Capacity Enrollment
Pine Mountain (1979) Square Feet Capacity Enrollment
Simpson (1988) Square Feet Capacity Enrollment
2010
173,487 1,162 1,111
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
2011
173,487 1,162 1,103
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
2012
173,487 1,162 1,101
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
2013
173,487 1,162 1,093
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
2014
173,487 1,162 1,025
186,961 1,362 1,310
166,551 1,112 969
152,212 963 779
186,947 1,162 1,201
149,038 1,012 1,014
111,260 788 589
179,170 1,162 1,089
165,107 1,137 943
175,345 1,162 1,406
160,581 1,162 893
149,577 937 715
191,209 1,163 1,090
175,974 1,162 990
169,809 912 710
143,888 962 895
2015
173,487 1,162 1,058
186,961 1,362 1,243
166,551 1,112 933
152,212 963 838
186,947 1,162 1,180
149,038 1,012 1,068
111,260 788 530
179,170 1,162 1,161
165,107 1,137 962
175,345 1,162 1,426
160,581 1,162 893
149,577 937 677
191,209 1,163 1,137
175,974 1,162 1,024
169,809 912 691
143,888 962 913
2016
173,487 1,162 1,030
186,961 1,362 1,225
166,551 1,112 943
152,212 963 916
186,947 1,162 1,237
149,038 1,012 1,076
111,260 788 532
179,170 1,162 1,139
165,107 1,137 1,058
175,345 1,162 1,354
160,581 1,162 889
149,577 937 696
191,209 1,163 1,198
175,974 1,162 1,019
169,809 912 616
143,888 962 935
2017
173,487 1,162 1,061
186,961 1,362 1,198
166,551 1,112 933
152,212 963 885
186,947 1,162 1,282
149,038 1,012 1,125
111,260 788 501
179,170 1,162 1,005
165,107 1,137 1,103
175,345 1,162 1,413
165,479 1,162 881
149,577 937 676
191,209 1,162 1,234
175,974 1,162 942
169,809 912 597
143,888 962 960
2018
2019
173,487 1,162 1,039
173,487 1,162 1,101
186,961 1,362 1,284
222,963 1,387 1,392
166,551 1,112 930
166,551 1,112 968
152,212 963 876
152,212 963 895
186,947 1,162 1,379
186,947 1,162 1,415
149,038 1,012 1,074
149,038 1,012 1,063
111,260 788 584
111,260 788 620
179,170 1,162 1,022
179,170 1,162 1,112
165,107 1,137 1,090
165,107 1,137 1,051
175,345 1,162 1,368
175,345 1,162 1,401
165,479 1,162 930
165,479 1,162 938
149,577 937 672
149,577 937 692
191,209 1,162 1,217
191,209 1,162 1,111
175,974 1,162 923
175,974 1,162 888
169,809 912 625
169,809 912 696
143,888 962 944
143,888 962 912
Continued---
153
COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS
School Name
Smitha (1993) Square Feet Capacity Enrollment
Tapp (1975) Square Feet Capacity Enrollment
Allatoona (2008) Square Feet Capacity Enrollment
Campbell (1963) Square Feet Capacity Enrollment
Cobb Horizon (1944)(Oakwood)(e) 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
2010
167,815 1,137 817
157,435 1,137 737
328,370 1,912 1,341
370,042 2,637 2,144
93,612 462 156
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
2011
167,815 1,137 907
157,435 1,137 661
328,370 1,912 1,554
370,042 2,637 2,224
93,612 462 175
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
2012
169,345 1,137 968
157,435 1,137 724
325,200 1,912 1,762
374,180 2,637 2,105
93,858 462 79
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
2013
169,345 1,137 995
157,435 1,137 761
325,200 1,912 1,717
374,180 2,637 2,188
93,858 462 70
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
2014
169,345 1,137 1,001
157,435 1,137 805
325,200 1,912 1,724
374,180 2,637 2,258
93,858 462 78
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
2015
169,345 1,137 988
157,435 1,137 769
325,200 1,912 1,773
374,180 2,637 2,380
93,858 462 91
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
2016
169,345 1,137 969
157,435 1,137 808
330,289 1,912 1,717
374,180 2,637 2,509
93,858 462 63
337,584 2,587 1,949
319,000 1,987 2,334
321,068 1,987 1,437
319,000 1,987 2,120
310,950 2,112 2,121
504,107 2,362 2,199
406,817 2,787 2,755
328,000 2,062 1,821
319,768 1,788 2,377
260,606 1,912 1,919
388,425 2,612 1,906
297,400 2,062 1,703
2017
169,345 1,137 991
157,435 1,137 859
330,289 1,912 1,670
374,180 2,638 2,600
93,858 462 55
337,584 2,587 2,024
319,000 1,987 2,371
321,068 1,987 1,484
319,000 1,987 2,099
310,950 2,112 2,179
504,107 2,362 2,227
406,817 2,787 2,810
328,000 2,062 1,977
319,768 1,788 2,375
260,606 1,912 1,990
388,425 2,612 1,899
297,400 2,062 1,610
2018
169,345 1,137 1,012
157,435 1,137 939
330,289 1,912 1,704
374,180 2,638 2,731
93,858 462 68
337,584 2,587 2,165
319,000 1,962 2,395
321,068 2,013 1,451
319,000 1,987 2,001
310,950 2,112 2,145
504,107 2,362 2,289
406,817 2,787 2,762
328,000 2,062 1,973
319,768 1,788 2,438
336,955 1,912 1,957
388,425 2,612 1,796
297,400 2,062 1,643
2019
169,345 1,137 1,036
157,435 1,137 953
330,289 1,912 1,692
427,488 2,662 2,743
93,858 462 227
333,954 2,538 2,315
319,000 1,962 2,343
321,068 2,013 1,451
319,000 1,987 1,878
300,195 2,062 2,087
504,107 2,362 2,312
485,833 2,838 2,730
220,696 2,062 2,004
319,768 1,788 2,353
336,955 1,912 1,915
420,443 2,638 1,891
297,400 2,062 1,698
154
COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS
School Name
2010
2011
Walton (1975)
Square Feet
308,814 308,814
Capacity
2,362
2,362
Enrollment
2,561
2,649
Wheeler (1964)
Square Feet
318,504 318,504
Capacity
1,837
1,837
Enrollment
1,981
2,020
Performance Learning Center (located at Oakwood)(e)
Enrollment
47
76
Hawthorne (Haven) (1958) (c)
Square Feet
32,500
32,500
Capacity
312
312
Enrollment
160
99
Fitzhugh Lee (Haven) (1935)(c)
Square Feet
35,684
35,684
Capacity
312
312
Enrollment
-
42
Kennesaw Charter (d)
Enrollment
437
515
Mableton Charter (d)
Enrollment
472
529
International Academy of Smyrna (d)
Enrollment
580
744
Devereux Georgia (d)
Enrollment
105
96
Sky View (1957) (b) (Haven - 2016)
Square Feet
-
-
Capacity
-
-
Enrollment
-
-
2012
307,655 2,312 2,569
318,504 1,837 1,955
57
32,500 312 88
35,684 312 43
614
526
793
62
-
2013
307,655 2,312 2,574
318,504 1,837 1,948
59
32,500 312 77
35,684 312 39
782
-
943
75
-
2014
307,655 2,312 2,639
361,490 2,162 2,049
70
32,500 312 69
35,684 312 33
871
-
944
87
-
2015
307,655 2,312 2,582
341,594 2,112 2,008
93
32,500 312 77
35,684 312 37
858
-
966
88
-
2016
307,655 2,312 2,616
440,214 2,187 2,075
148
-
-
838
-
1,033
78
50,270 462 119
2017
307,655 2,312 2,615
434,631 2,187 2,076
147
-
-
778
-
993
86
50,270 462 102
2018
2019
373,256 2,312 2,603
342,656 2,312 2,643
434,631 2,187 2,063
434,631 2,187 2,125
122
-
-
-
-
-
-
-
-
-
-
-
-
-
558
464
-
-
-
-
89
79
50,270
50,270
462
462
86
66
Concluded.
(a) Original Clarkdale building destroyed by flood fall 2009. Clarkdale Replacement school opened for school year 2012-13. (b) In fiscal year 2016, Haven Academy combined its two campuses (Fitzhugh Lee and Hawthorne) to become a one campus program at the Sky View facility. (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. (e) Oakwood and the Performance Learning Center opend as Cobb Horizon High School on the Oakwood campus August 2018. Data reflects the new Five-Year Local Facilities Plan approved by the Board on April 28, 2016. The 2016 - 2020 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.
155
COBB COUNTY SCHOOL DISTRICT TEACHERS' SALARY SCHEDULE LAST TEN FISCAL YEARS
$100,000 $90,000 $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 2010
2011
2012
Teachers' Salary Range
2013
2014
2015
2016
2017
Minimum Maximum Cobb Average
2018
2019
Fiscal Year
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Minimum
$
38,958
38,958
38,958
38,958
38,958
39,347
41,330
42,364
42,364
43,465
Maximum
$
82,088
82,088
82,088
82,088
82,088
82,908
87,087
89,264
89,264
91,585
Cobb Average
$
53,320
54,168
53,770
54,323
54,435
55,773
58,425
60,185
60,309
62,066
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
$
53,155
52,830
53,002
52,956
52,973
53,424
54,215
55,530
56,333
57,066
156
COBB COUNTY SCHOOL DISTRICT ADMINISTRATIVE SALARY SCHEDULE JUNE 30, 2019
$375,000 $350,000 $325,000 $300,000 $275,000 $250,000 $225,000 $200,000 $175,000 $150,000 $125,000 $100,000
$75,000 $50,000 $25,000
$0
Administrative Salary Range
Minimum
Maximum
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 $ 350,000
140,782 95,778
101,326 92,000
114,642 98,317 95,266
Maximum $ 350,000
162,504 136,682 123,176 123,387 136,682 124,947 123,601
157
COBB COUNTY SCHOOL DISTRICT SCHEDULE OF INSURANCE IN FORCE JUNE 30, 2019
Type of Coverage
Name of Company and Policy Number
Bus, Truck, Motor Vehicles Liability Property Theft Employee's Blanket Bond General Liability Property Boiler (Includes Insurance) Student Athletic
Self Insured
Self Insured BerkelyCrime BGOV-45002366-20 Self Insured Travelers KTJ-CMB-1G46706-9-15 T.W. Lord & Associates
Superintendent's
Old Republic Surety Co.
Bond
APO002121620
Principal's
Old Republic Surety Co.
Bond
APS1177822
Worker's Compensation Self Insured
Excess Worker's
State National Insurance
Compensation
NDE-0859281-15
Disability, Long-Term The Hartford
402273
Disability, Short-Term The Hartford
402273
STD Plan Option 1
STD Plan Option 2
STD Plan Option 3
STD Plan Option 4
Life Insurance and AD&D Dependent Life
The Hartford 402273 The Hartford 402273
Optional Life and AD&D
The Hartford 402273
Policy Period
From
To
Liability Limits
Annual Premium
6/1/1994 Ongoing $300,000
N/A
6/1/1994 Ongoing N/A 8/1/2018 8/1/2019 $7,500,000
N/A $22,878
6/1/1994 Ongoing $500,000 7/1/2018 7/1/2019 $500,000,000
N/A $501,516
8/1/2018 8/1/2019 Varies
Student/Parent Funded
5/1/2018 5/1/2019 $100,000
$350
8/1/2018 8/1/2019 $10,000
$3,990
N/A
N/A Statutory
10/1/2018 10/1/2019 $1,000,000
N/A $148,283
1/1/2019 12/31/2019 Benefit Schedule per salary
$1,249,246
1/1/2019 12/31/2019
14 Day Elimination Period. 66.67% of standard income up to $1,200 per week.
Employee pays $.219 per $10 of weekly benefit.
1/1/2019 1/1/2019
1/1/2019
60 Day Elimination Period. 66.67% of standard weekly income, up to $1,200 per week. 14 Day Elimination Period. 50% of standard weekly income, up to $1,200 per week. 60 Day Elimination Period. 50% ofstandard weekly income, up to $1,200 per week. 12/31/2019
12/31/2019 Coverage options: Child $10,000 or $25,000 Spouse up to $50,000
12/31/2019 Employee can choose up to 7 times his/her annual earnings. (Max. $500,000)
Employee pays $.126 per $10 of weekley benefit.
Employee pays $.220 per $10 of weekly benefit.
Employee pays $.138 per $10 of weekly benefit.
The first $15,000 is paid by CCSD. (smokers and non-smokers) Employee pays $1.75 for $10,000 of coverage of child(ren) or $4.37 for $25,000 of coverage; Spousal coverage depends on the age of the spouse. Employee pays $0.152 per $1,000 of Supplemental Life coverage monthly.
158
COBB COUNTY SCHOOL DISTRICT SCHEDULE OF INSURANCE IN FORCE JUNE 30, 2018
Type of Coverage
Name of Company and Policy Number
Dental Insurance Plus Option
MetLife Dental 158287
Base Option
Critical Illness with Cancer Insurance
Voya 70174
Policy Period
From
To
1/1/2019 12/31/2019
Liability Limits
Annual Premium
Plus Plan provides preferred Employee pays $43.70 for single
rates with a maximum
coverage, $81.72 for employee plus
coverage of $1,000 per
one, or $133.28 for family coverage
participant per calendar monthly. 1/1/2019 12/31/2019 Base Plan has co-pays for Employee pays $16.70 for single
Preventative and Diagnostic coverage, $31.22 for employee plus
services with a maximum of one, or $53.48 for family coverage
$750 coverage per
monthly.
participant per calendar
year. 1/1/2019 12/31/2019 Based on Benefit Schedule Cost is determied based on age and
amount of coverage elected by
employee.
Vision Insurance Plus Plan
MetLife Vision 158287
Base Plan
Legal Insurance Accident Insurance
ARAG Group 17840-001
Voya 70174
Hospital Indemnity
Voya 70174
1/1/2019 12/31/2019 Based on Benefit Schedule
1/1/2019 12/31/2019 Based on Benefit Schedule 1/1/2019 12/31/2019 Based on Benefit Schedule 1/1/2019 12/31/2019 Based on Benefit Schedule
Employee pays rates monthly depending on chosen plan. Single coverage is $6.58; coverage for employee plus one family member is $12.29, and family coverage is $18.26 each month. Single coverage is $5.45; coverage for employee plus one family member is $10.19, and family coverage is $15.15 each month. Employee pays $13.52 for single coverage or $16.88 for family Coverage monthly. Employee pays monthly premium of $7.59 self, $12.59 self and spouse, $14.84 self and children, or $19.84 family. Employee pays monthly premium of $9.54 self, $22.63 self and spouse, $14.61 self and children, or $27.70 family.
Concluded.
Source: District Records
159
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 2010
2011
2012
2013
2014 Lunch
2015 Breakfast
2016
2017
2018
2019
(amounts expressed in thousands)
Lunch Meals Served: Free Reduced Paid
Total Daily Average Student Price
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
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
6,360 783
4,455 11,598
64
$2.25-$2.50
6,119 868
4,293 11,280
63
$2.25-$2.50
5,569 834
4,149 10,552
61
$2.25-$2.50
5,430 860
4,339 10,629
60
$2.35-$2.60
Breakfast Meals Served: Free Reduced Paid
Total Daily Average Student Price
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
2,916 246 453
3,615 20
$1.25
2,853 290 468
3,611 20
$1.25
2,527 275 469
3,271 19
$1.25
2,456 288 517
3,261 18
$1.25
Total Meals Served: Free Reduced Paid
Total Daily Average
Source: District Records
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
9,276 1,029 4,908
15,213 84
8,972 1,159 4,762
14,891 83
8,096 1,109 4,618
13,823 80
7,886 1,148 4,856
13,890 78
160
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 2010
2011
2012
2013 2014 Elementary
201M5iddle2016High2017
2018
2019
Fiscal Year
Elementary
Middle
High
2010
68
25
17
2011
68
25
16
2012
68
25
16
2013
67
25
16
2014
67
25
16
2015
67
25
16
2016
67
25
16
2017
67
25
16
2018
67
25
16
2019
67
25
17
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.
161
Total 110 109 109 108 108 108 108 108 108 109
COBB COUNTY SCHOOL DISTRICT NUMBER OF HIGH SCHOOL GRADUATES AND AVERAGE DAILY ENROLLMENT AND ATTENDANCE LAST TEN FISCAL YEARS
113,000 112,000 111,000 110,000 109,000 108,000 107,000 106,000 105,000 104,000 103,000 102,000 101,000 100,000
Cobb County School District Average Daily Enrollment
Fiscal Year 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Average Daily
Enrollment 106,835 106,868 106,944 108,240 109,752 111,264 112,308 112,821 111,723 111,527
Average Daily
Attendance 102,444 102,732 103,008 103,857 105,548 106,895 107,872 108,150 106,863 106,876
Attendance Percentage
96% 96% 96% 96% 96% 96% 96% 96% 96% 96%
Number of Graduates
7,177 7,350 7,192 7,425 7,313 7,366 7,714 7,970 8,126 8,261
Graduate Percentage
N/A N/A 76.00% 76.50% 78.20% 81.45% 83.80% 83.60% 85.20% 87.00%
Note: Beginning in 2016 Graduate Percentages were adjusted to match the Georgia Department of Education four-year Adjusted Cohort Graduation Rate (ACGR). This rate calculation began for the school year ended 2012 and is released in October with a one-year lag. (i.e. the school year ended 2016 will be available October 2017)
Source: District Records
162
COBB COUNTY SCHOOL DISTRICT ACTIVE ENROLLMENT BY GRADE LEVEL LAST TEN FISCAL YEARS
120,000
Active Enrollment By Grade Level
100,000
80,000
60,000
40,000
20,000
0 2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
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
Pre-K Grade Grade Grade Grade Grade Grade Grade Grade Grade Grade Grade Grade
Year
and K
1
2
3
4
5
6
7
8
9
10
11
12
Total
2010
9,262
8,029 8,286 8,285 8,291 8,230 8,131 7,822 8,007 9,850 7,391 7,551 7,353 106,488
2011
9,253
8,292 8,001 8,369 8,166 8,344 8,077 8,165 7,868 9,804 8,121 6,549 7,827 106,836
2012
9,159
8,189 8,303 8,184 8,330 8,284 8,155 8,186 8,154 9,437 8,021 6,865 7,235 106,502
2013
9,523
8,297 8,296 8,422 8,191 8,495 8,242 8,249 8,229 9,637 7,938 6,931 7,464 107,914
2014
9,363
8,669 8,473 8,464 8,503 8,331 8,389 8,381 8,372 9,874 8,394 6,882 7,434 109,529
2015
9,363
8,461 8,829 8,592 8,541 8,680 8,290 8,474 8,599 10,090 8,817 6,918 7,406 111,060
2016
9,164
8,453 8,643 8,978 8,610 8,610 8,562 8,385 8,574 10,077 8,890 7,280 7,622 111,848
2017
9,224
8,230 8,606 8,729 8,914 8,742 8,461 8,640 8,564 9,902 8,943 7,594 7,863 112,412
2018
9,087
8,028 8,171 8,458 8,614 8,919 8,597 8,550 8,675 9,698 8,933 7,753 7,999 111,482
2019
9,024
Source: District Records
7,995
8,154
8,216
8,556
8,700
8,916
8,727
8,616
9,623
8,853
7,873
8,133 111,386
163
COBB COUNTY SCHOOL DISTRICT CLASSROOM BUILDINGS, GRADE LEVELS AND ACREAGE JUNE 30, 2019
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
662 604 364 464 863 768 358 530 822 697
942 1,031 827 673 1,087 811 406 497 608 992 576 1,256 709 841 842 830 699 628 616 923 585 615 489 972 652 683 1,097 438 556 1,047 359 374 1,122 848 973 520 1,151 870 751 876 770 464 551 1,109 595 648 727 755 728 1,051 1,165
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
18.0
2018
22.9
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
11.0
2011
9.6
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
16.1
2017
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 73 61 63 62 68 54 29 50 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 61 61 40 60 52 63 61 57 30 36 61 39 61 53 58 61 61 73
Portable Classrooms
2 2 1 4 3 1 2 12 5 11 2 5 3 1 7 9 4 1 2 -
Square Footage
131,924 81,334 56,904 85,236
106,694 83,098 68,409 84,461
105,886 111,299
49,828 168,576 116,071 136,261 124,148 137,108 129,988
55,412 88,079 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 73,352 110,096 144,362 123,233 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
1,162 962 987 963
1,063 863 437 788 788 963 587
1,087 562 863 862 963 688 688 512 962 962 862 588 962 962 762 587 688 962 962 562 612 937 962 962 637 937 837 987 962 888 462 562 962 612 962 862 912 962 962
1,162
164
COBB COUNTY SCHOOL DISTRICT CLASSROOM BUILDINGS, GRADE LEVELS AND ACREAGE JUNE 30, 2019
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 Cobb Horizon Harrison Hillgrove Kell Kennesaw Mountain Lassiter McEachern North Cobb Osborne Pebblebrook Pope South Cobb Sprayberry Walton Wheeler Hawthorne (Haven) Skyview (Haven) Kennesaw 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 6-12 K-12 K-6 1-12
Active Enrollment
756 892 563 915 789 764 794 922 1,552 1,068 1,068 1,315 1,261 1,101 1,392 968 895 1,415 1,063 620 1,112 1,051 1,401 938 692 1,111 888 696 912 1,036 953 1,692 2,743 227 2,315 2,343 1,451 1,878 2,087 2,312 2,730 2,004 2,353 1,915 1,891 1,698 2,643 2,125
66 464 79 111,386
Size of Occupied
Site (acres) Year (a)
10.9
1978
12.9
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
17.6
2018
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
22.0
1988
21.8
1993
16.9
1975
114.7
2008
47.9
1964
10.0
1944
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
6.2
1958
10.1
1957
Number of Classrooms
62 52 39 60 62 60 64 71 87 71 72 73 74 71 84 68 60 70 62 45 71 70 71 71 58 71 71 57 59 70 70 100 137 43 132 101 104 102 107 127 146 60 94 98 136 106 144 112 18 30
2,951.7
7,162
Portable Classrooms
4 3 8 2 15 1
110
Square Footage
117,539 108,100
73,450 109,769 109,827 122,260 156,660 178,465 220,228 170,905 177,356 166,048 183,798 173,487 222,963 166,551 152,212 186,947 149,038 111,260 179,170 165,107 175,345 165,479 149,577 191,209 175,974 169,809 143,888 169,345 157,435 330,289 427,488
93,858 333,954 319,000 321,068 319,000 300,195 504,107 485,833 220,696 319,768 336,955 420,443 297,400 342,656 434,631
32,500 50,270
Capacity 963 837 612 937 963 937
1,037 1,162 1,338 1,162 1,163 1,187 1,212 1,162 1,387 1,112
963 1,162 1,012
788 1,162 1,137 1,162 1,162
937 1,162 1,162
912 962 1,137 1,137 1,912 2,662 462 2,587 1,962 2,013 1,987 2,062 2,362 2,838 2,062 1,788 1,912 2,638 2,062 2,312 2,187 312 462
17,122,857
120,393
(a) Occupied year represents the year during which the school was initially opened and utilized for instructional purposes, but does not reflect the most recent year of subsequent additions, improvements, or renovations, if any.
(b) With the opening of Smyrna Elementary for school year 2013-14, Brown Elementary closed at the end of 2012-13. During fiscal year ended 2015, Brown facilities were used to house Teasley primary grades during construction of new classrooms at Teasley Elementary.
(c) Operated by unaffiliated non-profit entities. Enrollment reported by Cobb County School District; buildings do not belong to the district.
Source: District Records
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