Cobb County School District
Annual Comprehensive Financial Report
Fiscal Year Ended June 30, 2022
PREPARED BY: COBB COUNTY BOARD OF EDUCATION
FINANCIAL SERVICES DIVISION BRADLEY REUBEN JOHNSON, CHIEF FINANCIAL OFFICER
514 Glover Street Marietta, Georgia 30060

(This page was left blank intentionally)

COBB COUNTY SCHOOL DISTRICT ANNUAL COMPREHENSIVE FINANCIAL REPORT
TABLE OF CONTENTS FOR THE YEAR ENDED JUNE 30, 2022
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 Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds

PAGE i-iv v vi vii viii ix x
1-4 5-17
18 19
20 21 22

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 Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Non-GAAP Budgetary Basis) American Rescue Plan Act
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
Notes to the Basic Financial Statements
Required Supplementary Information
Combining and Individual Nonmajor Fund Financial Statements and Schedules:
Combining and Individual Nonmajor 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
Combining Statement of Revenues, Expenses, and Changes in Fund Net Position - Internal Service Funds
Combining Statement of Cash Flows - Internal Service Funds
Supplementary Schedules:
SPLOST IV - Special Purpose Local Option Sales Tax Projects
SPLOST V - Special Purpose Local Option Sales Tax Projects

PAGE
23
24
25 26 27 28 29-70 71-78
79-81 82-86 87-91
92-110 111 112 113 114
115-116 117-118

STATISTICAL SECTION (Unaudited) Statistical Section Contents Net Position by Component Last Ten Fiscal Years Changes in Net Position Last Ten Fiscal Years Fund Balances, Governmental Funds Last Ten Fiscal Years Changes in Fund Balances, Governmental Funds
Last Ten Fiscal Years Property Tax Levies and Collections Assessed and Estimated Actual Value of Taxable Property
Last Ten Fiscal Years Direct and Overlapping Property Tax Rates Last Ten Fiscal Years Principal Property Taxpayers December 31, 2021 and Nine Years Ago Legal Debt Margin Information Last Ten Fiscal Years Legal Debt Margin Information Fiscal Year 2022 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

PAGE
119 120-121 122-123 124-125 126-127
128
129 130 131 132 133 134
135 136
137 138 139
140 141
142

Operating Statistics Last Ten Fiscal Years General Fund Expenditures by Function Last Ten Fiscal Years General Fund Revenues by Source Last Ten Fiscal Years Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Expenditures Last Ten Fiscal Years Results of All Bond and Sales Tax Referendums School Buildings Last Ten Fiscal Years Teachers Salary Schedule Last Ten Fiscal Years Administrative Salary Schedule 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 143 144 145
146 147 148-155 156 157 158-159 160 161
162 163 164-165

One Team, One Goal: Student Success

514 Glover Street Marietta, GA 30060 Telephone: (770) 426-3300 www.cobbk12.org

November 18, 2022

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 of the Cobb County School District (District) for the fiscal year ended June 30, 2022. 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 25th largest in the United States with an active daily enrollment of 106,601. 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 a chairperson and vice-chairperson. The Board appoints a Superintendent to oversee the day-to-day administration of the School District.

BOARD OF EDUCATION SUPERINTENDENT

David Chastain, Chair David Banks, Vice Chair Randy Scamihorn Jaha Howard Leroy Tre' Hutchins Charisse Davis Brad Wheeler
Chris Ragsdale

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 our students, while efficiently managing our resources. Here are a few of the many accomplishments from the 2022 fiscal year:
The District average score on the SAT of 1,111 was 59 points higher than the state average and 83 points higher than the national average.
The four-year graduation rate for Cobb high schools was 87.4% in 2022. Cobb exceeds the state graduation rate of 84.1% by 3.3 percentage points.
The Cobb County School District has consistently been ranked by Forbes as one of America's "Best-in-State Employers" for four straight years, from 2019 to 2022.
The District has earned the highest possible credit rating from three nationally recognized bond rating agencies: Moody's Investor's Service, Standard & Poor's, and Kroll Credit Rating Agency. Cobb County School District is the only school district in the USA with this distinction.
More details may be obtained through the District's Communications Department.
The District has reviewed its operating entity definition 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. While General Fund and Special Revenue Fund budgets are reported at the function level within individual funds, the level of budgetary control (that is, the level at which expenditures cannot legally exceed the appropriated amount) is at the fund level. In the event expenditures exceed appropriations in a function area, they must be offset by under-expenditures in other function areas within the same fund.
ii

______________________________________________________________________________
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 2021 Cobb County continued its trend of a growing population, which increased from 707,277 in 2012 to 766,802 in 2021. The unemployment rate for 2021 was 3.3%.
Student enrollment in fiscal year 2022 was 106,601, which is consistent with fiscal year 2021 of 106,983. Student enrollment in fiscal year 2024 is projected to increase to 111,530, a reversal of the enrollment decreases experienced during the pandemic. A schedule of District school buildings and their ages can be found on pages 148-155.
We are pleased by the positive increase in property values in fiscal year 2022 and expect this trend to continue into fiscal year 2023, thereby providing a stable and growing revenue source. In fiscal year 2022 the District's assessed real property values increased by 6.5% from the prior year. ______________________________________________________________________________
LONG-TERM FINANCIAL PLANNING ______________________________________________________________________________
The District anticipates continuing to meet its projected capital improvement needs by means of county special sales tax revenues. The current Ed-SPLOST V special sales tax will continue to fund capital improvement needs of the District through December 2023. We are grateful for our citizens' approval of the Ed-SPLOST VI capital financing initiative in November of 2021, with more than 72% of the vote. Ed-SPLOST VI will enable the financing of new schools and provide for needed building improvements to existing schools, beginning January 1, 2024, and ending December 31, 2028. Some specific projects that will be funded by ED-SPLOST VI include the construction of a new elementary school in south Cobb, the construction of a second Career Academy in north Cobb, and a major facility upgrade for Sprayberry High School. Infrastructure improvements and technology upgrades will also be funded through ED-SPLOST VI.
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 current SPLOST V Special Sales Tax Initiative. The District's exceptional Aaa credit rating, first issued by Moody's in 2015, and most recently reaffirmed in 2021, should qualify the District for a competitive interest rate. Since 2015, the District has also received exceptional credit ratings from two other nationally recognized credit agencies, Standard & Poor's, and Kroll Bond Rating Agency. ______________________________________________________________________________
OTHER INFORMATION ______________________________________________________________________________
New Educational Model: The Cobb County School District has now completed its fifth year as a Strategic Waiver School System. This model offers 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
iii

Independent Certified Public Accountants in Accordance with the Uniform Guidance and Government Auditing Standards.
Fi11a11cial Reporli11g 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 conforming to program standards and satisfies generally accepted accounting principles and applicable legal requirements. The awards are valid for a period of one year only. As of the publication of this report, we have not yet received the GFOA Certificate of Achievement for Excellence in Financial Reporting for the prior year's fiscal year 2021 Annual Comprehensive Annual Financial Report (ACFR). We fully expect to receive this prestigious award and will include it with next year's report.
Budget Prese11lalio11 Award: The District prepares an official budget document each year which is issued as a separate report. We have received the Meritorious Budget Award from ASBO every year since 2004. 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 ASBO to determine its eligibility for another award.
Ack11owledgme11ls: We wish to express our appreciation to Jan Hendrix, Director of Accounting Services, and to the entire staff of the Financial Seices 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 Partner, Christopher McKellar, and his auditing staff have been instrumental in the prompt completion of the associated audit ofthis report.
In closing, sincere gratitude is expressed to the Board of Education for their leadership and dedication to the Cobb County School District, its taxpayers, employees, and, most importantly, its students. To the citizens of the Cobb County School District, please accept our gratitude for your support of our successful school district.
Respectfully submitted,
Bradley Reuben Johnson Chief Financial Officer

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, 2020
Executive Director/CEO
v

The Certificate of Excellence in Financial Reporting is presented to
Cobb County School District
for its Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2021.
The district report meets the criteria established for ASBO International's Certificate of Excellence in Financial Reporting.

William A. Sutter President

David J. Lewis Executive Director
vi

COBB COUNTY SCHOOL DISTRICT
FUNCTION AND COMPOSITION JUNE 30, 2022

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 once 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, 2022, 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. David Banks Mrs. Charisse Davis Dr. Jaha Howard Mr. Leroy Tre Hutchins Mr. Brad Wheeler Mr. Randy Scamihorn

Term Expires December 31, 2022 December 31, 2024 December 31, 2022 December 31, 2022 December 31, 2024 December 31, 2024 December 31, 2024

vii

COBB COUNTY SCHOOL DISTRICT ELECTED OFFICIALS AND SUPERINTENDENT OF SCHOOLS
JUNE 30, 2022

RANDY SCAMIHORN
POST 1
10 Years Served

DR. JAHA HOWARD
POST 2
4 Years Served

LEROY TRE HUTCHINS
POST 3
2 Years Served

DAVID CHASTAIN
POST 4
8 Years Served

DAVID BANKS
POST 5 14 Years Served

CHARISSE DAVIS BRAD WHEELER CHRIS RAGSDALE

POST 6 4 Years Served

POST 7 10 Years Served

SUPERINTENDENT

viii

COBB COUNTY SCHOOL DISTRICT
SUPERINTENDENT'S EXECUTIVE CABINET JUNE 30, 2022

Chris Ragsdale

CCSD Superintendent

Dr. Kevin Daniel

Chief of Staff

John Floresta

Chief Strategy & Accountability Officer

Keeli Bowen

Chief Human Resources Officer

Sherri Hill

Chief School Leadership Officer & Interim Chief Academic Officer

Bradley Reuben Johnson Chief Financial Officer

Marc Smith

Chief Technology & Operations Officer

ix

COBB COUNTY SCHOOL DISTRICT ORGANIZATIONAL CHART JUNE 30, 2022

Citizens of Cobb County

Board of Education

Board Attorney

Superintendent Chris Ragsdale

Chief Leadership Officer
& Interim Chief Academic Officer
Sherri Hill

Chief Human Resources
Officer
Keeli Bowen

Chief of Staff
Dr. Kevin Daniel

Chief Financial Officer
Bradley Reuben Johnson

Chief Strategy & Acc ountabi lity
Officer
John Floresta

Chief Technology &
Operations Officer
Marc Smith

x

INDEPENDENT AUDITOR'S REPORT
To the Superintendent and Members of the Cobb County Board of Education Marietta, Georgia
Report on the Audit of the Financial Statements Opinion 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, 2022, 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. 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, 2022, and the respective changes in financial position, and, where applicable, cash flows thereof and the budgetary comparisons for the General Fund and the ARPA Fund, for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States (Government Auditing Standards). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Cobb County Board of Education and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Emphasis of Matter As described in Note 17 to the financial statements, the Cobb County Board of Education implemented Governmental Accounting Standards Board (GASB) Statement No. 87, Leases, as of July 1, 2021. This standard significantly changed the accounting for the Cobb County Board of Education's leases. Our opinions are not modified with respect to this matter.
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

Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for 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.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Cobb County Board of Education's ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we:
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Obtain an understanding of internal control relevant to the audit 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 Cobb County Board of Education's internal control. Accordingly, no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Cobb County Board of Education's ability to continue as a going concern for a reasonable period of time.
2

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
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 is the responsibility of management and, 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 GAAS, 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.
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the Cobb County Board of Education's basic financial statements. The combining and individual nonmajor fund financial statements and schedules, the SPLOST 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 presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining and individual nonmajor fund financial statements and schedules, the SPLOST 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.
3

Other Information Management is responsible for the other information included in the annual report. The other information comprises the introductory and statistical sections but does not include the basic financial statements and our auditor's report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon. In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated November 18, 2022, 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 November 18, 2022
4

MANAGEMENT'S DISCUSSION
AND ANALYSIS

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2022
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, 2022. 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 2022 are as follows:
Total net position increased from $230.1 million in fiscal year 2021 to $532.3 million in fiscal year 2022, an increase of $302.2 million, primarily due to increased District cash from increased property and sales taxes, as well as favorable adjustments to actuarially estimated future long-term pension and post-employment costs.
Total revenue increased from $1,586.2 million in fiscal year 2021 to $1,702.6 million in fiscal year 2022, an increase of $116.4 million. The revenue increase was from several sources. Local property tax revenue increased substantially due to a significant increase in the property tax digest. SPLOST sales taxes also increased substantially as the economy rebounded from the pandemic. Revenue generated at local schools increased with the resumption of the full array of student activities, such as field trips, athletic events, and other after-school programs.
Total expenses decreased from $1,531.4 million in fiscal year 2021 to $1,398.7 million in fiscal year 2022, a decrease of $132.7 million. The decrease in expense was largely due to a significant decrease of pension and post-employment benefits costs, a consequence of favorable actuarial assumptions.
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.
5

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2022
The Statement of Net Position presents information on all of the District's assets, deferred outflows of resources, liabilities, and deferred inflows of resources with the difference between them reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating.
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 two categories: governmental funds and proprietary 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.
6

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2022 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 2021 and fiscal year 2022. In fiscal year 2022, the District's net position increased 132.1%, or $303.9 million, over the prior year. Due to revised actuarial assumptions, current year pension and OPEB (Other Post-Employment Employer Benefits) expense decreased significantly. Also, revised future projections significantly decreased both pension and OPEB liabilities. Total current and other assets reflected a net increase of 20.5%, or $144.6 million, largely due to an increase in cash and receivables from higher state QBE funding and increased property tax revenue due to a significant increase in the real property tax digest. SPLOST sales tax revenue also increased significantly. Capital Assets increased by 1.0%, or $17.0 million, which was chiefly attributable to both new construction and 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.
7

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2022

Table I Condensed Statement of Net Postion (amounts expressed in millions)
2022 Net Position

(1,324.8)

850.1

556.3 286.3

1,198.6 1,108.3

201.5

1,719.1 1,655.6

(1,600.0) (1,200.0) (800.0) (400.0) 0.0

400.0 800.0 1,200.0 1,600.0 2,000.0

Current and Other Assets Deferred Outflows of Resources Other Liabilities Net Investment in Capital Assets Unrestricted
Governmental Activities
Assets: Current and Other Assets Capital Assets
Total Assets

Capital Assets Long-Term Liabilities Deferred Inflows of Resources Restricted

2021

2022

$

705.5 $

1,702.1

2,407.6

850.1 1,719.1 2,569.2

Percentage Change
20.5 1.0 21.5

Deferred Outflows of Resources
Liabilities: Long-Term Liabilities Other Liabilities
Total Liabilities

581.7

556.3

$ 2,283.5 $ 270.9
2,554.4

1,198.6 286.3
1,484.9

50.2
(47.5) 5.7
(41.8)

Deferred Inflows of Resources
Net Position: Net Investment in Capital Assets Restricted Unrestricted
Total Net Position

204.7

1,108.3

$ 1,627.3 $

119.9

(1,517.1)

$

230.1 $

1,655.6 201.5
(1,324.8) 532.3

(18.6)
1.7 68.1 (12.7) 131.3

8

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2022 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 2021 and fiscal year 2022. Revenues In fiscal year 2022, the District's total revenues increased 7.3%, or $116.3 million, over the prior year due primarily to increases in federal grant funding and increased property tax revenue.
Charges for services increased by 92.5% or $23.4 million, primarily due to increased school activities, which had been curtailed during the pandemic.
Operating grants and contributions increased by 2.0%, or $15.6 million, largely due to the partial restoration of a State QBE austerity funding cut in the prior year and continued increased federal funding, most notably from the American Rescue Plan Act (ARPA).
Capital grants and contributions increased by 634.8%, or $14.6 million, largely because of equipment purchased through the federal COVID-19 Emergency Connectivity Fund Program Grant.
Tax revenue increased 7.9%, or $61.6 million, largely due to a 6.5% increase in the real property tax digest, as well as increased SPLOST sales tax revenue, as the local economy rebounded.
Interest income increased 142.9%, or $1.0 million, due primarily to rising market interest rates.
Other revenue increased by 6.7%, or $0.1 million. Sale of retired fixed assets generates a major portion of this revenue category.
9

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2022 Expenses In fiscal year 2022, the District's total expenses decreased 8.7%, or $132.8 million, due primarily to the allocation of lower pension and OPEB costs, resulting from favorable actuarial assumptions. Below we discuss the expense categories which experienced an increase.
Student transportation increased by 3.1%, or $1.8 million, largely due to increased fuel prices, as well as the 4.0% salary increase for all permanent employees.
Maintenance and operations increased by 1.8% or $2.1 million, primarily due to higher operating costs, such as higher utility costs, and higher costs of materials, resulting from supply chain issues. Salary expense increased from the 4.0% salary increase.
Student activities increased by 101.8% or $11.0 million, primarily resulting from associated costs of providing greatly increased student activities, such as field trips, athletic events, and other after-school programs.
10

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2022
Table II Changes in Net Position from Operating Results (amounts expressed in millions)
Program Revenues and Expenses - 2022
$1,500 $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 Position Restatement GASB 87 Beginning Net Position Ending Net Position

2021 2022
2021

2022

Change 2021-2022

$

25.3 $

48.7

773.3

788.9

2.3

16.9

783.1 0.7 1.5
1,586.2

844.7 1.7 1.7
1,702.6

$ 1,035.6 $ 908.9

106.4

93.6

200.3

192.4

57.7

59.5

120.0

122.1

10.9

22.0

0.5

0.2

1,531.4

1,398.7

$

54.8 $ 303.9

175.3

(1.7) 230.1

$

230.1 $ 532.3

92.5% 2.0%
634.8%
7.9% 142.9%
13.3% 7.3%
-12.2% -12.0%
-3.9% 3.1% 1.8% 101.8% -60.0% -8.7%
454.6% -
31.3% 131.3%

11

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2022

Table III Net Cost of Governmental Activities (amounts expressed in thousands)

$1,000,00 0

908,906

Total and Net Costs - 2022

$800,000

$600,000
$400,000 217,048
$200,000
$0
($200,000)

35,776

57,860

6,043

54,987

192,376

92,805

59,496

122,130

54,447

119,827

21,965

175 175

(1,162)

Net Cost

Total Cost

Total Cost of Services

2021

2022

Change 2021-2022

Net Cost of Services

2021

2022

Change 2021-2022

I ns tructi on

$

Pupil Services

Instructional Services

School/Administrative Services

Student Transportation

Maintenance and Operations

Student Activities

Interest and Fiscal Charges

Total

$

1,035,625 43,170 63,289
200,280 57,665
120,068 10,818 466
1,531,381

$ 908,906 35,776 57,860
192,376 59,496
122,130 21,965 175
1,398,684

-12.2% -17.1%
-8.6% -3.9% 3.2% 1.7% 103.0% -62.4% -8.7%

$ 330,752 17,412 60,683
152,009 50,791
118,320 33
466 $ 730,466

$ 217,048 6,043
54,987 92,805 54,447 119,827 (1,162)
175 $ 544,170

-34.4% -65.3%
-9.4% -38.9%
7.2% 1.3% -3621.2% -62.4% -25.5%

12

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2022
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, 2022: Instruction, Pupil Services, Instructional Services, School and Administrative Services, Student Transportation, Maintenance and Operations, Student Activities, and Interest and Fiscal Charges.
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 2022 was $1,398.7 million. Users of the District's programs financed $48.8 million of the costs. Federal and State grants, subsidized programs and contributions funded $805.8 million of the costs. Lastly, District taxpayers financed the remaining costs of fiscal year 2022, which totaled $544.2 million.
The School District's Funds
The District ended fiscal year 2022 with a healthy fund balance in its governmental funds. The combined balance of all governmental funds, at $546.2 million, was 31.1% higher than 2021's ending balance of $416.5 million. The General Fund's fund balance increased by $32.9 million, or 9.4%, due primarily to increased state and federal funding and greater property tax revenue. SPLOST V, the District's primary capital improvement fund, had an ending fund balance of $100.3 million, which was 248.3% higher than 2021's ending balance of $28.8 million, due primarily to increased SPLOST sales tax revenue, as the economy rebounded from the pandemic. The System Wide/County-Wide Fund increased its fund balance by 953.8% from the prior year, or $0.1 million, primarily from increased interest income, as market interest rates rose substantially as the Federal Reserve increased the reserve interest rate, to combat historically high inflation. The American Rescue Plan Act (ARPA) Fund primarily funded student instructional services and programs designed to offset learning loss experienced by students during the Covid-19 pandemic. This fund had total expenditures of $72.4 million in fiscal year 2022 and was a major source of federal revenue for the District. The nonmajor governmental fund balances increased in the aggregate by $26.9 million, or 72.9%.
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 unchanged from the original budget, at $1.2 billion. The final amended budget for expenditures was only 1.9% greater in total than the
13

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2022
original budget, with an amended final expenditure budget of $1.3 billion, with a forecasted decrease in Fund Balance of $75.1 million. Actual revenue exceeded budgeted revenue by $67.5 million, primarily from greater property tax revenue and increased state funding. Actual expenditures were $40.5 million less than budgeted. The net effect of these favorable variances totaled $108.0 million and resulted in a net increase to actual fund balance of $32.9 million.
General Fund Balance
The unassigned General Fund balance at June 30, 2022 was $198.3 million. This represents approximately 59 days of general fund expenditures. The Board of Education made a concerted effort to maintain an adequate operating reserve 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.
The SPLOST IV special sales tax began January 1, 2014 and ended on December 31, 2018. The SPLOST V special sales tax began January 1, 2019 and will end on December 31, 2023. The SPLOST IV fund had expenditures of $6.4 million and an ending fund balance of $6.2 million. SPLOST V had expenditures of $123.8 million and an ending fund balance of $100.3 million. A full listing of SPLOST IV and SPLOST V projects can be located on pages 115-118.
The System Wide/County-Wide Fund had no expenditures and an ending fund balance of $0.01 million.
Nonmajor Governmental Funds
The Nonmajor Governmental Funds, had aggregate expenditures of $158.3 million and aggregate fund balances of $63.8 million in fiscal year 2022. Within the Nonmajor Governmental Funds, the Funds with the highest expenditures in fiscal year 2022 were School Nutrition at $57.4 million, Special Education at $23.6 million, Local School Funds at $22.0 million, and Title I (of the Elementary and Secondary Education Act) at $21.1 million. Nonmajor Governmental Funds ending the year with the highest fund balances were School Nutrition at $30.1 million, Local School Funds at $12.9 million, District Building at $6.3 million, and SPLOST IV at $6.2 million. The fund balance of Nonmajor Governmental Funds, in aggregate, increased from $36.9 million in fiscal year 2021 to $63.8 million in fiscal year 2022, an increase of $26.9 million. Descriptions of these funds can be located on pages 79-81.
14

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2022 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 2021 and fiscal year 2022. Capital assets increased 1.0% from $1,702.1 million in fiscal year 2021 to $1,719.1 million in fiscal year 2022, an increase of $17.0 million. Construction in Progress decreased by $38.1 million, or 23.6%. Land did not materially change. Buildings and Improvements increased by $45.6 million, or 3.6%. Equipment increased by $12.8 million, or 13.4%. Lastly, Library and Textbooks decreased by $1.8 million, or 11.4%. 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, 2022, the District had $15.2 million in outstanding long-term obligations for compensated absences, a net pension liability of $497.9 million, and other post-employment benefits of $677.9 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.
15

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2022
Table IV Capital Assets, Net of Depreciation (amounts expressed in thousands)

Equipment 6%

Library Books and Textbooks 1%

Land

Construction in

9%

Progress

7%

Intangibles 0%

Buildings and Improvements
77%

Land

Construction in Progress

Buildings and Improvements Equipment

Intangibles Library Books and Textbooks

Capital Assets: Land Construction in Progress I nta ngi bl es Buildings and Improvements Equi pment Library Books and Textbooks Total

2021

2022

Change 2021-2022

$ 143,460 $ 143,522

161,722

123,573

2,962

1,467

1,282,665 1,328,226

95,765

108,558

15,479

13,716

$ 1,702,053 $ 1,719,062

0.0% -23.6% -50.5%
3.6% 13.4% -11.4%
1.0%

16

COBB COUNTY SCHOOL DISTRICT Management's Discussion and Analysis
JUNE 30, 2022 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 VI capital financing initiative in November of 2021, with more than 72% of the vote. Ed-SPLOST VI will enable the financing of new schools and provide for needed building improvements to existing schools. Our District remains committed to working as one team for the goal of student success, as we seek to maximize the financial resources entrusted to us. 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, 514 Glover Street, Marietta, Georgia, 30060.
17

COBB COUNTY SCHOOL DISTRICT STATEMENT OF NET POSITION JUNE 30, 2022
(amounts expressed in thousands)
ASSETS: Cash and Cash Equivalents Investments Receivables (net of allowance for uncollectibles):
Taxes Intergovernmental Accounts Lease receivable 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 Intergovermental Payable Accrued Salaries and Benefits Notes Payable Accrued Interest Payable Unearned Revenue Noncurrent Liabilities:
Claims Payable, Due Within One Year Claims Payable, Due In More Than One Year Compensated Absences, Due Within One Year Compensated Absences, Due In More Than One Year Net Pension Liability, Due In More Than One Year Net Other Post-Employment Benefits (OPEB) Liability, Due In More Than One Year
Total Liabilities
DEFERRED INFLOWS OF RESOURCES:
Leasing Arrangements 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:
General Fund Bus Purchases Capital Projects School Nutrition Services Miscellaneous Grants GNETS Unrestricted (Deficit)
Total Net Position
See accompanying notes to the basic financial statements.

Governmental Activities

$

678,951

277

28,197 131,402
965 6,113
555 3,678

143,522 123,573
10,479 2,325,716
295,077 72,760
(1,252,065) 2,569,200

397,931 158,383 556,314
36,694 661
141,056 97,900 2,457 865
2,638 5,062 9,767 5,438 497,854 677,878 1,478,270

6,603 734,706 373,604 1,114,913

1,655,625

927

170,017

30,108

278

189 (1,324,813)

$

532,331

18

COBB COUNTY SCHOOL DISTRICT STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2022

(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
$ 908,906 35,776 57,860 192,376 59,496
122,130 21,965
175 $ 1,398,684

Program Revenues

Operating Charges Grants and for Services Contributions

Capital Grants and Contributions

$ 1,478 $ 674,684 $

-

29,557

-

2,521

21,833

77,101

-

5,049

2,303

-

23,127

-

-

-

$ 48,741 $ 788,912 $

15,696 176 352 637 -
-
16,861

Net (Expense) Revenue
and Changes in Net Position
$ (217,048) (6,043)
(54,987) (92,805) (54,447) (119,827)
1,162 (175) $ (544,170)

General Revenues: Taxes: Property Taxes Levied for General Purposes Sales Tax Interest Income
Other

$ 654,322 190,383 1,659 1,757

Total General Revenues

848,121

Change in Net Position

303,951

Net Position - Beginning of Year, As Originally Presented

230,090

Restatements

(1,710)

Net Position - Beginning of the Year, Restated

228,380

Net Position - End of Year

$ 532,331

See accompanying notes to the basic financial statements.
19

COBB COUNTY SCHOOL DISTRICT BALANCE SHEET GOVERNMENTAL FUNDS
JUNE 30, 2022

(amounts expressed in thousands)

Assets: Cash and Cash Equivalents Investments Receivables (net of allowance for uncollectables): Taxes Intergovernmental Accounts Lease Receivable Due from Other Funds Prepaids Inventories Total Assets

General

ARPA

Special Purpose Local Option Sales Tax V

System Wide/ County-Wide
Building

Nonmajor

Total

Governmental Governmental

Funds

Funds

$ 388,248 $ -

- $ 146,050 $

-

-

65,477 -

$ 63,728 277

$ 663,503 277

10,018 84,048
957 6,113 37,620
555 778 $ 528,337 $

-

18,179

33,625

-

-

-

-

-

-

-

-

-

-

-

33,625 $ 164,229 $

65,477

13,729
8 646 2,900 $ 81,288

28,197 131,402
965 6,113 38,266
555 3,678 $ 872,956

LIABILITIES,DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES:

Liabilities:

Intergovernmental

$

660 $

Accounts Payable

4,402

Accrued Payroll and Payroll Withholdings

56,488

Notes Payable

-

Accrued Employee Benefits

75,194

Accrued Interest Payable

-

Due to Other Funds Unearned Revenue
Total Liabilities

646 -
137,390

-$

-$

1,332

28,924

3,572

-

32,573

995

-

-

2,457

27,726

-

-

-

33,625

63,954

-$

1$

661

-

1,905

36,563

-

3,021

63,081

65,327

-

97,900

-

1,784

77,973

-

-

2,457

-

9,894

38,266

-

865

865

65,327

17,470

317,766

Deferred Inflows of Resources: Leasing Arrangements 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

6,603 2,423 9,026
1,333 927 -
181,354 198,307 381,921 $ 528,337 $

-

-

-

-

-

-

-

-

-

100,275

-

-

-

-

-

-

-

100,275

33,625 $ 164,229 $

-

-

6,603

-

-

2,423

-

-

9,026

-

2,900

4,233

150

33,830

135,182

-

20,821

20,821

-

6,267

187,621

-

-

198,307

150

63,818

546,164

65,477 $ 81,288 $ 872,956

See accompanying notes to the basic financial statements.
20

COBB COUNTY SCHOOL DISTRICT RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET TO THE STATEMENT OF NET POSITION JUNE 30, 2022
(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 OPEB 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

$

546,164

$

2,971,127

(1,252,065)

1,719,062

(497,854)
397,931 (734,706)

(834,629)

(677,878)
158,383 (373,604)

(893,099) 2,423 7,615

(15,205)

$

532,331

See accompanying notes to the basic financial statements.
21

COBB COUNTY SCHOOL DISTRICT STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2022
(amounts expressed in thousands)

REVENUES: Taxes Intergovernmental Tuition and Fees Interest Income Rentals Athletic Ticket Sales Other
Total Revenues
EXPENDITURES: Current:
Instruction Pupil Services Instructional Services School and Administrative Services Student Transportation Maintenance and Operations School Nutrition Program Student Activities Capital Outlay Debt Service: Interest
Total Expenditures
Excess of Revenues Over 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, As Originally Presented
Restatements
Fund Balances, Beginning of Year, Restated
Fund Balances, End of Year

General
$ 654,791 $ 592,212 1,456 1,791 1,045
1,251,295
870,230 32,350 40,964
125,855 53,614 80,625
8,834
1,212,472
38,823
(6,235)
285 (5,950)
32,873
350,758
(1,710)
349,048
$ 381,921 $

ARPA
72,422
72,422

Special Purpose Local Option Sales Tax V

$

190,383

4,635

-

267

-

-

-

195,285

System Wide/ CountyWide

$

-

-

-

153

-

-

-

153

Nonmajor Governmental
Funds

$

-

138,506

36,586

68

-

2,990

712

178,862

Total Governmental
Funds

$

845,174

807,775

36,586

1,944

1,791

2,990

1,757

1,698,017

33,835 494
4,286 9,078 2,595 1,534
20,600
72,422
-
-
-
-
-
-
-$

155 -
123,512
175 123,842
71,443
16 -
16
71,459
28,816
-
28,816
100,275 $

-

30,435

-

5,682

-

19,631

-

66,310

-

1,566

-

2,565

-

-

21,965

-

10,100

934,500 38,526 64,881
201,398 57,775 84,724 21,965
163,046

-

-

175

-

158,254

1,566,990

153

20,608

131,027

(16)
(16)
137
13
-
13
150 $

6,235 -
45 6,280
26,888
36,930
-
36,930
63,818 $

6,251 (6,251)
330 330
131,357
416,517
(1,710)
414,807
546,164

See accompanying notes to the basic financial statements.

22

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, 2022
(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
The net effect of various miscellaneous transactions involving capital assets (i.e., sales and disposals) is to decrease net position.
Internal service funds are used by management to charge the costs of insurance to individual funds. The net expenses of the internal service funds is reported with governmental activities.
Some items reported in the statement of activities do not require the use of current financial resources and therefore are not reported as expenditures in governmental funds. This activity consists of the increase in compensated absences.
Change in Net Position of Governmental Activities

$ 131,357

$

122,303

(93,851)

28,452

128,703

26,991 (469)
(11,443) 723 (363)
$ 303,951

See accompanying notes to the basic financial statements.

23

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, 2022
(amounts expressed in thousands)

REVENUES: Local State Federal Other
Total Revenues

Budgeted Amounts

Original

Final

$

635,186 $ 635,548

541,565

541,203

7,017

7,017

293

293

1,184,061

1,184,061

Actual Amounts
$ 659,083 583,803 8,409 285
1,251,580

Variance With Final Budget

$

23,535

42,600

1,392

(8)

67,519

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

892,655 29,806 26,564 20,432 14,123 79,620 9,385 77,464 58,471 23,472 993 102 2,770
1,235,857

897,294 30,049 30,546 20,435 17,263 77,599 10,760 79,664 59,866 22,069 1,063 102 6,268 6,235
1,259,213

870,884 32,405 23,402 6 18,241 15,087 81,059 9,045 81,244 54,083 19,827 407 411 102 6,269 6,235
1,218,707

26,410 (2,356) 7,144
(6) 2,194 2,176 (3,460) 1,715 (1,580) 5,783 2,242
656 (411)
(1)
-
40,506

Net Change in Fund Balance Fund Balance, Beginning of Year, As Originally Presented Restatements

(51,796) 350,758
-

(75,152) 350,758
-

32,873 350,758
(1,710)

108,025 -
(1,710)

Fund Balance, End of Year

$

298,962 $

275,606 $

381,921 $ 106,315

See accompanying notes to the basic financial statements.

24

COBB COUNTY SCHOOL DISTRICT AMERICAN RESCUE PLAN ACT (ARPA)-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, 2022
(amounts expressed in thousands)

REVENUES: Federal
Total Revenues
EXPENDITURES: Instructional Pupil Services Improvement of Instruction Services Instructional Staff Training Educational Media Services School Administration Federal Grant Administration General Administration Business Services Maintenance and Operation of Plant Student Transporation Central Support Services School Nutrition Community Service Operations Capital Outlay
Total Expenditures

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$ 160,601 $ 168,146 $

160,601

168,146

72,422 $ 72,422

(95,724) (95,724)

114,269 738
27,300 -
178
5,159 -
12,038 -
919 160,601

117,996 4,497 4,366 1,279 219 1,949 13
14,262 578
2,693 3,974
601 12,368 1,095
2,256 168,146

52,511 494
3,510 544 219
1,549 13
3,538 232
1,534 2,595
375 2,454
930 1,924 72,422

65,485 4,003
856 735
400
10,724
346 1,159 1,379
226 9,914
165 332 95,724

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

-

-

-

-

-

-

-

-

$

-$

-$

-$

-

See accompanying notes to the basic financial statements.

25

COBB COUNTY SCHOOL DISTRICT STATEMENT OF FUND NET POSITION PROPRIETARY FUNDS JUNE 30, 2022
(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

$

15,448

15,448

131 5,062
1 1 5,195
2,638
7,833

$

7,615

See accompanying notes to the basic financial statements.

26

COBB COUNTY SCHOOL DISTRICT STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITON PROPRIETARY FUNDS FOR THE YEAR ENDED JUNE 30, 2022
(amounts expressed in thousands)

OPERATING REVENUES: Charges for Services
Total Operating Revenues

Governmental Activities
Internal Service Funds

$

7,374

7,374

OPERATING EXPENSES: School and Administrative Services Capital Outlay
Total Operating Expenses

6,638 13
6,651

Change in Net Position Total Net Position, Beginning of Year Total Net Position, End of Year

723 6,892

$

7,615

See accompanying notes to the basic financial statements.

27

COBB COUNTY SCHOOL DISTRICT STATEMENT OF CASH FLOWS PROPRIETARY FUNDS FOR THE YEAR ENDED JUNE 30, 2022 (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
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 Prepaid Items Decrease in Claims Payable Increase 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

$

7,374

(476)

(6,043)

(552)

303

303 15,145 15,448

$

723

71 (600) 110
(1) (420)

$

303

28

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
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. 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.
29

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
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. Separate statements for each category (governmental and proprietary) 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 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.
American Rescue Plan Act of 2021 accounts for funding to offset the negative economic impact and loss of learning due to the pandemic.
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.
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.
30

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
C. Basis of Accounting/Measurement Focus
The basis of accounting determines when transactions are reported on the financial statements. The District-wide governmental activities and proprietary fund financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded at the time liabilities are incurred, regardless of when the related cash flows take place.
Nonexchange transactions, in which the District gives (or receives) value without directly receiving (or giving) equal value in exchange, include property taxes, sales taxes, grants and donations. On an accrual basis, revenue from property taxes is recognized in the fiscal year for which the taxes are levied. Revenue from sales taxes is recognized in the fiscal year in which the underlying transaction (sale) takes place. Revenue from grants and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied.
The District uses funds to report on its financial position and the results of its operations. Fund accounting is designed to demonstrate legal compliance and to aid financial management by segregating transactions related to certain governmental functions or activities. A fund is a separate accounting entity with a self-balancing set of accounts.
Governmental funds are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Under this method, revenues are recognized when measurable and available. The District considers all non-grant revenues reported in the governmental funds to be available if they are collected within 60 days after year-end. The District considers all intergovernmental revenues to be available if they are collected within 120 days after year-end. Property taxes, sales taxes, intergovernmental and interest are considered to be subject to accrual. Expenditures are recorded when the related fund liability is incurred, except for principal and interest on general long-term debt, claims and judgments, and compensated absences, which are recognized as expenditures to the extent they have matured. Capital asset acquisitions are reported as expenditures in governmental funds. Proceeds of general long-term liabilities and acquisitions under capital leases are reported as other financing sources.
31

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
The State of Georgia reimburses the District for teachers' salaries and operating costs through the Quality Basic Education (QBE) Formula Earnings program. State of Georgia law defines the formula driven grant that determines the cost of an academic school year and the State of Georgia's share in this cost. Generally, teachers are contracted for the school year (July 1 June 30) and paid over a twelve-month contract period, generally August 1 through July 31. In accordance with the requirements of the enabling legislation of the QBE program, the State of Georgia reimburses the District over the same twelvemonth 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 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.
32

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022

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 bank money market accounts. All of the District's cash and cash equivalents, as of June 30, 2022, have a maturity date of less than three months. The District's investments, as of June 30, 2022, have a maturity date of less than twelve months and are as follows:

Value at

Maturity

Investment

Maturity

Date

Certificate of deposit

$ 102,110

1/26/2023

Certificate of deposit

70,691

1/19/2023

Certificate of deposit

79,100

3/26/2023

Certificate of deposit

25,255

3/26/2023

$ 277,156

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.

33

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
F. Receivables
Receivables consist of amounts due from property and sales taxes, grant reimbursements due on Federal, State or other grants for expenditures made but not reimbursed and other receivables disclosed from information available. Receivables are recorded when either the asset or revenue recognition criteria has been met. Intergovernmental and Taxes Receivables at June 30, 2022 were as follows:
(amounts expressed in thousands)

Taxes Receivables Allowances Net Taxes Receivables

General Fund

ARPA

Special Purpose Local Option Sales Tax V

Total

$ 11,564 $

-$

18,179 $ 29,743

(1,546)

-

-

(1,546)

$ 10,018 $

-$

18,179 $ 28,197

Federal Receivables State / Local Receivables Intergovernmental Receivables

General Fund

$

155

83,893

$ 84,048

Special Purpose

ARPA

Local Option

Nonmajor

Sales Tax V Governmental

Total

$

33,625 $

- $ 12,494 $ 46,274

-

-

1,235

85,128

$

33,625 $

- $ 13,729 $ 131,402

Accounts Receivable

General

Nonmajor

Fund

Governmental

Total

$

957 $

8$

965

34

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022

Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
G. Leases
In fiscal year 2022, the School District adopted Governmental Accounting Standards Board (GASB) Statement No. 87, Leases. The primary objective of this statement is to better meet the information needs of financial statement users by improving accounting and financial reporting for leases by governments. This Statement increases the usefulness of a government's financial statements by requiring recognition of certain lease assets and liabilities for leases that previously were classified as operating leases and recognized as inflows of resources or outflows of resources based on the payment provisions of the contract. It establishes a single model for lease accounting based on the foundational principle that leases are financings of the right to use an underlying asset. The cumulative effect of GASB Statement No. 87 is described in the restatement note 17.

Since 1996 and later, the School District, as lessor, has entered into agreements with various communication companies for leasing parcels of land located at 36 various school sites. These agreements are renewable for 5 years terms for a total of $ 6,113,108 payable to the School District by fiscal year 2043. The amortized revenue recorded in fiscal year 2022 was $1,414,443 and the remaining deferred inflow of resources was $6,603,147.

H. Property Taxes
The Cobb County Board of Commissioners fixed the property tax levy for the 2021 tax digest year (calendar year) in July 2021 (levy date) based on property values as of January 1, 2020. Taxes were due on October 15, 2021 (lien date). Taxes collected within the current fiscal year or within 60 days after year-end on the 2021 tax digest are reported as revenue in the governmental funds for fiscal year 2022. 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, 2022 totaled $654,791,000.

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 2021 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

I. 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 $225,959,531 has been collected or on December 31, 2023, whichever occurs first.

35

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022

Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

J. 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, 2022, the tax abatement programs noted above abated property taxes due to the School District that were levied on January 1, 2021 and due on October 15, 2023 totaling $3,123,032. Included in the amount abated, the following are individual tax abatement agreements that each exceeded 10 percent of the total amount abated:

Tax Abatement Project Home Depot USA HighWoods Realty LP Greenstone Encore Center Empire Distributors, Inc.

% Abated 50 60 80 90

Amount of Taxes Abated

$

382,350

396,900

387,072

469,309

36

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022

Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
K. 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.

L. Prepaid Items

Payments made to vendors for services that will benefit periods subsequent to June 30, 2022, are recorded as prepaid, according to the consumption method.

M. 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.

Capitalization thresholds and estimated useful lives of capital assets reported in the District-

wide statements are as follows:

General

Useful

Policy

Life

Land

All

N/A

Buildings and Improvements

$50,000

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.

37

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
N. 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 plans 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, 2023. 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.
O. 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
38

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.
P. 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.
Q. 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.
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.
R. 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:
39

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022

Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
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.
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
Venue Management / 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.

40

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 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 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
Remainder of Page Intentionally Left Blank
41

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022

Note 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Schedule of Fund Balances

Fund Balances:

General Fund

Nonspendable: Inventory Prepaids

$ 778,000 555,000

Restricted for: Bus Replacement Capital Projects School Nutrition Miscellaneous Grants GNETS

927,000

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

Assigned to: Appropriation for Next Year's Budget Instruction Instructional Services School and Administrative Services Maintenance and Operations Capital Outlay Districtwide

29,851,000 119,359,000
2,361,000 6,038,000
338,000 23,407,000

Unassigned:

198,307,000

Total Fund Balance

$ 381,921,000

Special Purpose System

Local Option

Wide/

Sales Tax V Countywide

$ 100,275,000 $ 150,000

$ 100,275,000 $ 150,000

Nonmajor Governmental
Funds
$ 2,900,000
6,155,000 27,208,000
278,000 189,000
826,000 670,000 483,000 2,928,000 2,970,000 12,944,000
6,267,000
$ 63,818,000

Total
$ 3,678,000 555,000
927,000 106,580,000
27,208,000 278,000 189,000
826,000 670,000 483,000 2,928,000 2,970,000 12,944,000
29,851,000 119,359,000
2,361,000 6,038,000
338,000 23,407,000
6,267,000
198,307,000
$ 546,164,000

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
42

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
Note 2. LEGAL COMPLIANCE BUDGETS (Continued)
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.
While General Fund and Special Revenue Fund budgets are reported at the function level within individual funds, the level of budgetary control (that is, the level at which expenditures cannot legally exceed the appropriated amount) is at the fund level. In the event expenditures exceed appropriations in a function area, they must be offset by underexpenditures in other function areas within the same fund. 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, 2022.
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 Actual Revenues GAAP Basis Other Financing Sources budgeted as revenues Budgeted Revenues, Budgetary Basis
Actual Expenditures GAAP Basis Other Financing Uses budgeted as expenditures Budgetary Expenditures, Budgetary Basis
Net Change in Fund Balance, Budgetary Basis
Net Change in Fund Balance, GAAP Basis

General Fund
$ 1,251,295,000 285,000
1,251,580,000

1,212,472,000 6,235,000
1,218,707,000

$

32,873,000

$

32,873,000

Remainder of Page Intentionally Left Blank
43

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
Note 2. LEGAL COMPLIANCE BUDGETS (Continued)
For the year ended June 30, 2022, expenditures exceeded appropriations in several function areas within various funds. These over-expenditures were offset by under-expenditures 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

$

Instructional Staff Training

School Administration

Maintenance and Operation of Plant

School Nutrition

Venue Management/Public Safety:

Maintenance and Operation of Plant

Community Service Operations

After School Program:

Pupil Services

Business Services

Maintenance and Operation of Plant

Tuition School/Adult High School:

Improvement of Instructional Services

Maintenance and Operation of Plant

GNETS

Improvement of Instructional Services

General Administration

Title II:

Support Services - Central

Homeless Grant:

Federal Grant Administration

Title III:

Pupil Services

2,356,000 6,000
3,460,000 1,580,000
411,000
238,000 105,000
4,000 16,000 173,000
18,000 10,000
244,000 1,000
7,000
1,000
2,000

44

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
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 fair 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 45-813.1) the aggregate of the fair 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, 2022, a 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
45

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
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, 2022, the District had deposits with a carrying amount of $249,971,574 and a bank balance of $255,298,147. 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, 2022, the District's investments included $429,255,652 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 43 days. In addition, the District had $277,038 in certificates of deposit in various financial institutions. These certificates of deposits are reported as investments.
The District's investment in Georgia Fund 1, the State of Georgia Investment Pool, was rated AAAf by Standard & Poor's and AAAF/S1 by Fitch. 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.
46

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
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 value as of year-end and the District's investment in the Georgia Fund 1 is reported at fair value. As of June 30, 2022, 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.
47

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
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 fair 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
48

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022

Note 5. CAPITAL ASSETS

The following is a summary of changes in the capital assets during the fiscal year, rounded to the thousands:

Governmental Activities Capital Assets, Not Being Depreciated:
Land Construction In Progress Total Capital Assets Not Being Depreciated Capital Assets Being Depreciated: Buildings and Improvements Intangibles Equipment Library/Textbooks Total Capital Assets Being Depreciated Less Accumulated Depreciation for: Buildings and Improvements Intangibles Equipment Library/Textbooks Total Accumulated Depreciation Total Capital Assets Being Depreciated Net Governmental Capital Assets,Net

Balance June 30, 2021

Increases

Decreases

Balance June 30, 2022

$ 143,460,000 $

62,000 $

- $ 143,522,000

161,722,000

77,803,000

(115,952,000)

123,573,000

305,182,000

77,865,000

(115,952,000)

267,095,000

2,264,143,000 10,479,000
268,035,000 78,829,000
2,621,486,000

115,952,000 -
39,525,000 4,913,000
160,390,000

(54,379,000) -
(12,483,000) (10,982,000) (77,844,000)

2,325,716,000 10,479,000
295,077,000 72,760,000
2,704,032,000

981,478,000 7,517,000
172,270,000 63,350,000
1,224,615,000 1,396,871,000 $ 1,702,053,000

59,862,000 1,495,000
25,819,000 6,675,000
93,851,000 66,539,000 $ 144,404,000

(43,850,000)

997,490,000

-

9,012,000

(11,569,000)

186,520,000

(10,982,000)

59,043,000

(66,401,000)

1,252,065,000

(11,443,000)

1,451,967,000

$ (127,395,000) $ 1,719,062,000

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

In s tru ctio n Pupil Services School and Administrative Services Pupil Transportation Maintenance and Operations School Nutrition Services

$

83,304,000

2,002,000

1,100,000

4,196,000

3,128,000

121,000

$

93,851,000

49

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
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 $37,620,000 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 $646,000 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, 2022 are disclosed in the following schedule, rounded to the thousands:

Major Governmental Funds: General Fund ARP
Total Major Governmental Funds
Nonmajor Governmental Funds: Adult Education GNETS Title I Special Ed Federal Grant Vocational Education Title II Homeless Grant Title III Title IV Local Schools CARES Act Total Nonmajor Governmental Funds

Receivable
$ 37,620,000 -
37,620,000
646,000 646,000

Total

$ 38,266,000

Payable

$

646,000

27,726,000

28,372,000

215,000 728,000 3,756,000 3,745,000
518,000 42,000
217,000 484,000
189,000 9,894,000
$ 38,266,000

50

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022

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, 2022, consisted of the following, rounded to the thousands:

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 District Building Fund

Amount
1,491,000 279,000
4,465,000 $ 6,235,000

Major Governmental Funds: System Wide/County-Wide Total Major Governmental Funds

Special Purpose Local Option Sales Tax V $

16,000 16,000

Total for All Funds

$ 6,251,000

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.

51

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022

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 1%.

Estimated claims for the next fiscal year total $2,638,000 and the non-current liability for succeeding years is $5,062,000. 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

2021 $

8,589,000 $ 2,337,000 $ (2,626,000) $ 8,300,000

2022 $

8,300,000 $ 2,388,000 $ (2,988,000) $ 7,700,000

Note 9. SHORT-TERM NOTES
In January 2022, the District issued $97,900,000 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 15, 2022. The District will repay the notes with proceeds from the local option sales tax collected in calendar year 2022. 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 15, 2022, will total $100,494,350.
The following represents the activity related to short-term notes during fiscal year ended June 30, 2022.

Beginning Balance $ 98,940,000

Additions $ 97,900,000

Deletions $ (98,940,000)

Ending Balance $ 97,900,000

52

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
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 2022 long-term obligations are as follows:

Accrued Vacation Pay Net OPEB Liabilit y Net Pension Liabilit y Total

Balance 6/30/2021

Increases

Decreases

Balance 6/30/2022

Current Amounts Due Within One
Year

Long-term Amounts Due After One Year

$ 14,842,000 $ 9,897,000 $

9,534,000 $ 15,205,000 $

9,767,000 $ 5,438,000

$ 909,504,000 $ 10,670,000 $ 242,296,000 $ 677,878,000 $

- $ 677,878,000

$ 1,350,882,000 $ 90,105,000 $ 943,133,000 $ 497,854,000 $ $ 2,275,228,000 $ 110,672,000 $ 1,194,963,000 $ 1,190,937,000 $

- $ 497,854,000 9,767,000 $ 1,181,170,000

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, 2022 was $2,041,388.

53

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022

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, 2022, included additions and renovations at two elementary school, four high schools and one central office location. As of June 30, 2022, 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 Campbell HS Additions/Modifications Osborne HS Additions/Modifications Pebblebrook HS Additions/Modifications Sprayberry HS Additions/Modifications Walton HS New Replacement School Eastvalley ES New Replacement School Horizon HS Relocation

$ 26,863,771 43,819,208 14,309,045 56,409,301 24,318,419 8,097,019 39,361,238 8,662,538
$ 221,840,539

$ 26,859,657 43,149,178 13,588,073 34,023,667 11,051,360 1,606,524 5,939,547 8,859,543
$ 145,077,549

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, 2022, 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.

54

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
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 19.81 percent of the covered payroll. The District's contributions to TRS for the year ended June 30, 2022 was $152,624,322.
55

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
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, 2022, 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
State of Georgia's proportionate share of the net pension liability associated with the District
Total

$ 497,853,784
91,893 $ 497,945,677

The net pension liability was measured as of June 30, 2021. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2020. An expected total pension liability as of June 30, 2021 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, 2021. At June 30, 2021, the District's proportion was 5.629071%, which was an increase of 0.052423% from its proportion measured as of June 30, 2020.
For the year ended June 30, 2022, the District recognized pension expense of $23,917,608 and revenue of $261,712 for support provided by the State of Georgia for certain support personnel. At June 30, 2022, the District reported deferred outflows of resources and deferred inflows of resources related to pensions from the sources on the following page.

56

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022

Note 14. RETIREMENT PLANS (Continued)

Differences between expected and actual experience

De fe rre d Outflows of Re s ource s
$ 118,803,739

De fe rre d Inflows of Re s ource s

$

-

Changes of Assumptions

96,357,987

-

Net difference between projected and actual earnings on pension plan investments

-

728,219,462

Changes in proportion and differences between District contributions and proportionate share of contributions

30,145,115

6,486,983

District contributions subsequent to the measurement date

152,624,322

-

Total

$ 397,931,163 $ 734,706,445

District contributions subsequent to the measurement date of $152,624,322 are reported as deferred outflows of resources and will be recognized as a reduction of the net pension liability in the year ending June 30, 2023. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows:

Year ending June 30: 2023 2024 2025 2026
Total

$ (92,228,425) (85,451,644)
(133,739,624) (177,979,911) $ (489,399,604)

57

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022

Note 14. RETIREMENT PLANS (Continued)

Actuarial assumptions: The total pension liability as of June 30, 2021 was determined by an actuarial valuation as of June 30, 2020 using the following actuarial assumptions, applied to all periods included in the measurement:

Inflation Salary increases Investment rate of return
Post retirement benefit increases

2.50% 3.00-8.75%, average, including inflation 7.25%, net of pension plan investment expense including inflation 1.50% semi-annually

Post-retirement mortality rates for service retirements and beneficiaries were based on the Pub-2010 Teachers Headcount Weighted Below Median Healthy Retiree mortality table (ages set forward one year and adjusted 106%) with the MP-2019 Projection scale applied generationally. The rates of improvement were reduced by 20% for all years prior to the ultimate rate. Post-retirement mortality rates for disability retirements were based on the Pub-2010 Teachers Mortality Table for Disabled Retirees (ages set forward one year and adjusted 106%) with the MP-2019 Projection scale applied generationally. The rates of improvement were reduced by 20% for all years prior to the ultimate rate. The Pub-2010 Teachers Headcount Weighted Below Median Employee mortality table with ages set forward one year and adjusted 106% was used for death prior to retirement. Future improvement in mortality rates was assumed using the MP-2019 projection scale generationally. These rates of improvement were reduced by 20% for all years prior to the ultimate rate.

The actuarial assumptions used in the June 30, 2020 valuation were based on the results of an actuarial experience study for the period July 1, 2013 June 30, 2018, with the exception of the long-term assumed rate of return on assets (discount rate), which was 7.25%, and the assumed annual rate of inflation, which was 2.50%, effective with the June 30, 2020 valuation.

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.

58

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
Note 14. RETIREMENT PLANS (Continued)
The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table:

Asset class
Fixed income Domestic large equities Domestic small equities International developed market equities International emerging market equities Alternatives
Total
* Rates shown are net of the 2.50% assumed rate of inflation

Target allocation
30.00 % 46.30 1.20 11.50 6.00 5.00 100.00 %

Long-term expected real rate of return*
(0.80) % 9.30 13.30 9.30 11.30 10.60

Discount rate: The discount rate used to measure the total pension liability was 7.25%. 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 7.25%, 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 (6.25%) or one percentage point higher (8.25%) than the current rate:

1% Decrease (6.25%)
District's proportionate share of the net pension liability $ 1,341,086,199

Current discount rate
(7.25%)
$ 497,853,784

1 % Increase (8.25%)
$ (193,116,989)

59

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
Note 14. RETIREMENT PLANS (Continued)
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, 2022, the District reported a payable of $16,495,936 for the outstanding amount of contributions to the TRS pension plan required for the year ended June 30, 2022.
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/financials.
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 $15.50, 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
60

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022

Note 14. RETIREMENT PLANS (Continued)

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, 2022 was $392,332 with an average number of participants of 681.

Pension Liabilities and Pension Expense

At June 30, 2022, 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

$1,559,948

The net pension liability was measured as of June 30, 2021. The total pension liability used to calculate the net pension liability was based on an actuarial valuation as of June 30, 2020. An expected total pension liability as of June 30, 2021 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, 2021.
For the year ended June 30, 2022, the District recognized pension expense of $16,398 and revenue of $16,398 for support provided by the State of Georgia.

61

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
Note 14. RETIREMENT PLANS (Continued)

Actuarial assumptions: The total pension liability was determined by an actuarial valuation as of June 30, 2020, using the following actuarial assumptions, applied to all periods included in the measurement:

Inflation Salary increases Investment rate of return
Post retirement benefit increase

2.50% N/A 7.00%, net of pension plan investment expense, including inflation
1.50% semi-annually

Mortality rates are as follows:
The Pub-2010 General Employee Table, with no adjustments, projected generationally with the MP-2019 scale is used for both males and females while in active service.
The Pub-2010 Family of Tables projected generationally with the MP-2019 Scale and with further adjustments are used for post-retirement mortality assumptions as follows:

Participant Type Service Retirees
Disability Retirees Beneficiaries

Membership Table
General Healthy BelowMedian Annuitant
General Disabled
General Below-Median Contingent Survivors

Set Forward (+)/ Setback (-) Adjustment to Rates

Male: +2; Female: +2

Male: 101%; Female: 103%

Male: -3; Female: 0 Male: +2; Female: +2

Male: 103%; Female: 106% Male: 104%; Female 99%

The actuarial assumptions used in the June 30, 2020 valuation were based on the results of an actuarial experience study for the period July 1, 2014 June 30, 2019.

62

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
Note 14. RETIREMENT PLANS (Continued)

The long-term expected rate of return on pension plan investments was determined using a log-normal distribution analysis in which best-estimate ranges of expected future real rates of return (expected 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 small equities International developed market equities International emerging market equities Alternatives
Total

30.00 % 46.40
1.10 11.70
5.80 5.00 100.00 %

(1.50) % 9.20 13.40 9.20 10.40 10.60

* Net of inflation.
Discount rate: The discount rate used to measure the total pension liability was 7.00%. 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.

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

63

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
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 Annual Comprehensive Financial Report which is publicly available and can be obtained at https://sao.georgia.gov/statewide-reporting/acfr
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 $22,319,063 for the year ended June 30, 2022. Active employees are not required to contribute to the School OPEB Fund.
64

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
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, 2022, the District reported a liability of $677,877,868 for its proportionate share of the net OPEB liability. The net OPEB liability was measured as of June 30, 2021. The total OPEB liability used to calculate the net OPEB liability was based on an actuarial valuation as of June 30, 2020. An expected total OPEB liability as of June 30, 2021 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, 2021. At June 30, 2021, the District's proportion was 6.258782%, which was an increase of 0.066484% from its proportion measured as of June 30, 2020.
For the year ended June 30, 2022, the District recognized OPEB revenue of $4,680,310. At June 30, 2022, the District reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:

Differences between expected and actual experience
Changes of Assumptions
Net difference between projected and actual earnings on OPEB plan investments
Changes in proportion and differences between District contributions and proportionate share of contributions
District contributions subsequent to the measurement date
Total

De fe rre d Outflows of Re s ource s

De fe rre d Inflows of Re s ource s

$

-

124,129,897

$ 309,516,882 55,314,404

-

1,074,900

11,933,671

7,698,281

22,319,063 $ 158,382,631

$ 373,604,467

65

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022

Note 15. OTHER POST EMPLOYMENT BENEFITS (OPEB) (Continued)
District contributions subsequent to the measurement date of $22,319,063 are reported as deferred outflows of resources and will be recognized as a reduction of the net OPEB liability in the year ending June 30, 2023. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows:

Year ending June 30: 2023 2024 2025 2026 2027 2028
Total

$

(63,186,633)

(57,810,012)

(41,824,064)

(27,516,226)

(36,273,264)

(10,930,700)

$

(237,540,899)

Actuarial assumptions: The total OPEB liability as of June 30, 2021 was determined by an actuarial valuation as of June 30, 2020 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, 2021:

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

2.50% 3.00-6.75%, including inflation 7.00%, compounded annually, net of investment expense, and including inflation
6.75% 5.13%

Ultimate trend rate: Pre-Medicare Eligible Medicare Eligible

4.50% 4.50%

Year of Ultimate trend rate: Pre-Medicare Eligible Medicare Eligible

2029 2023

66

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
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 Pub-2010 Teachers Headcount Weighted Below Median Healthy Retiree Mortality Table projected generationally with the MP-2019 projection scale (set forward one year and adjusted 106%) is used for death prior to retirement and for service retirements and beneficiaries. The Pub-2010 Teachers Mortality Table for Disabled Retirees projected generationally with the MP-2019 Projection scale (set forward one year and adjusted 106%) is used for disability retirements. For both, rates of improvement were reduced by 20% for all years prior to the ultimate rate.
For PSERS members: Pre-retirement mortality rates were based on the Pub-2010 General Employee Mortality Table, with no adjustment, with the MP-2019 Projections scale applied generationally. Post-retirement mortality rates for service retirements were based on the Pub-2010 General Healthy Annuitant Mortality Table (ages set forward one year and adjusted 105% for males and 108% for females) with the MP-2019 Projection scale applied generationally. Post-retirement mortality rates for disability retirements were based on the Pub-2010 General Disabled Mortality Table (ages set back three years for males and adjusted 103% for males and 106% for females) with the MP-2019 Projections scaled applied generationally. Postretirement mortality rates for beneficiaries were based on the Pub-2010 General Contingent Survivor Mortality Table (ages set forward two years and adjust 106% for males and 158% for females) with the MP-2019 Project scale applied generationally.
The actuarial assumptions used in the June 30, 2020 valuation were based on the results of an actuarial experience study for the pension systems, which covered the five-year period ending June 30, 2018, with the exception of the assumed annual rate of inflation which was changed from 2.75% to 2.50%, effective with the June 30, 2018 valuation.
The remaining actuarial assumptions (e.g., initial per capita costs, health care cost trends, rate of plan participation, rates of plan election, etc.) used in the June 30, 2020 valuation were based on a review of recent plan experience done concurrently with the June 30, 2020 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.
67

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022
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 Equities

Total

30.00 % 70.00 100.00 %

0.14 % 9.20

* Net of inflation
Discount rate: In order to measure the total OPEB liability for the School OPEB, a single equivalent interest rate of 2.20% was used as the discount rate, as compared with last year's rate of 2.22%. This is comprised mainly of the yield or index rate for 20 year tax-exempt general obligation bonds with an average rating of AA or higher (2.16% per the Municipal Bond Index Rate). The projection of cash flows used to determine the discount rate assumed that contributions from members and from the employers 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 2145.

68

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022

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 2.20%, 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 (1.20%) or 1-percentage-point higher (3.20%) than the current rate:

District's proportionate share of the net pension liability

1% Decrease (1.20%)
$ 774,966,431

Current Discount Rate
(2.20%)
$ 677,877,868

1 % Increase (3.20%)
$ 596,605,556

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
$ 575,205,652

Current Discount Rate
$ 677,877,868

1 % Increase
$ 806,226,212

OPEB plan fiduciary net position: Detailed information about the OPEB plan's fiduciary net position is available in the Annual Comprehensive Financial Report which is publicly available and can be obtained at https://sao.georgia.gov/statewide-reporting/acfr.

69

COBB COUNTY SCHOOL DISTRICT
Notes to the Basic Financial Statements JUNE 30, 2022

Note 17. RESTATEMENTS
In fiscal year 2022, the School District adopted Governmental Accounting Standards Board (GASB) Statement No. 87, Leases. Therefore, in conjunction with the implementation of GASB Statement No. 87 the following restatements were required to the beginning fund balance of the General Fund and net position of governmental activities.

Net Position - Beginning of Year, As Originally Presented Restatements for Implementation of GASB No. 87 Net Position, Beginning of Year, Restated

Governmental Activities
$ 230,090,000
(1,710,000)
$ 228,380,000

Fund Balance, Beginning of Year, As Originally Presented Restatements for Implementation of GASB No. 87 Fund Balance, Beginning of Year, Restated

General Fund $ 350,758,000
(1,710,000)
$ 349,048,000

70

COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2022

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

2022

2021

2020

2019

2018

2017

2016

2015

5.629%

5.577%

5.388%

5.366%

5.532%

5.578% 5.409% 5.327%

$ 497,854 $ 1,350,882 $ 1,158,513 $ 996,094 $1,028,202 $1,150,755 $823,417 $673,042

92

313

220

249

694

1,761

1,497

1,082

$ 497,946 $ 1,351,195 $ 1,158,733 $ 996,343 $1,028,896 $1,152,516 $824,914 $674,124

District's covered payroll during measurement period
District's proportionate share of the net pension liability as a percentage of its covered payroll
Plan fiduciary net position as a percentage of the total pension liability

732,539
67.96% 92.03%

718,988
187.89% 77.01%

657,526

638,999

635,179

612,318 570,929 544,177

176.19% 78.56%

155.88% 80.27%

161.88% 79.33%

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.

71

COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2022

Schedule of Contributions Teacher Retirement System of Georgia Last 10 Fiscal Years (amounts expressed in thousands)

Contractually required contribution

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

$ 152,624 $ 139,596 $ 151,994 $ 137,423 $ 107,389 $ 90,646 $ 87,340 75,145 66,741 63,011

Contributions in relation to the contractually required contribution

152,624

139,596

151,994

137,423

107,389

90,646

87,340 75,145 66,741 63,011

Contribution Deficiency

$

-$

-$

-$

-$

-$

-$

-$

-$

-$

-

District's covered payroll

$ 770,590 $ 732,539 $ 718,988 $ 657,526 $ 638,999 $ 635,179 $ 612,318 570,929 544,177 551,528

Contributions as a percentage of covered payroll

19.81%

19.06%

21.14%

20.90%

16.81% 14.27%

14.26% 13.16% 12.26% 11.42%

Source: District Records. This schedule is presented to illustrate the requirement to show information for ten fiscal years.

72

COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2022
Notes to Required Supplementary Information For the Year Ended June 30 Teacher Retirement System of Georgia Change of benefit terms: There have been no changes in benefit terms. Changes of assumptions: 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). On May 15,2019, the Board adopted recommended changes from the smoothed valuation interest rate methodology that has been in effect since June 30, 2009, to a constant interest rate method. In conjunction with the methodology, the long-term assumed rate of return in assets (discount rate) has been changed from 7.50% to 7.25%, and the assumed rate of inflation has been reduced from 2.75% to 2.50%.
In 2019 and later, the expectation of retired life mortality was changed to the 2010 Teachers Headcount Weighted Below Median Healthy Mortality Table from the RP-2000 Mortality Tables. In 2019, rates of withdrawal, retirment, 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 experience.
73

COBB COUNTY SCHOOL DISTRICT
Required Supplementary Information JUNE 30, 2022

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

2022

2021

2020

2019

2018

2017

2016

2015

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

$ -$

-$

-$

-$

-$

-$

-$ -

1,560 $ 1,560

11,802 $ 11,802

10,813 $ 10,813

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

$39,175 $ 44,711 $ 43,669 $ 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 98.00%

N/A 84.45%

N/A 85.02%

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.

74

COBB COUNTY SCHOOL DISTRICT
Required Supplementary Information JUNE 30, 2022
Notes to Required Supplementary Information For the Year Ended June 30 Public Schools Employees Retirement System Change of benefit terms : There have been no changes in benefit terms. Changes of assumptions : On December 17, 2015, the Board adopted recommended changes to the economic and demographic assumptions utilized by the System. Primary among the changes were the updates to 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). A new funding policy was initially adopted by the Board on March 15, 2018, and most recently amended on December 17, 2020. 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 and further reduced by 0.10% from 7.40% to 7.30% as of the June 30, 2018 actuarial valuation. On December 17, 2020, the Board adopted recommended changes to the economic and demographic assumption utilized by the System based on the experience study prepared for the five year period ending June 30, 2019. Primary among the changes were the updates to rates or mortalitu, retirement, disability, and withdrawal. This also included a change to the long-term assumed investment rate of return to 7.00%. These assumption changes are reflected in the calculation of the June 30, 2021 Total Pension Liability.
75

COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2022

Schedule of Proportionate Share of 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

2022

2021

2020

2019

2018

6.258782%

6.192298%

6.158032%

6.189471%

6.259222%

$ 677,877,868 $ 909,504,364 $ 755,722,646 $ 786,662,770 $ 879,418,172

Total

$ 677,877,868 $ 909,504,364 $ 755,722,646 $ 786,662,770 $ 879,418,172

District's covered employee payroll

652,236,841

District's proportionate share of the net OPEB liability as a percentage

of its covered-employee payroll

103.93%

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

6.14%

637,114,654
142.75% 3.99%

575,518,845
131.31% 4.63%

555,635,744
141.58% 2.93%

548,725,520
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.

76

COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2022

Schedule of Contributions - School OPEB Fund For the Year Ended June 30

Contractually required contributions

$

Contributions in relation to the contractually required contribution $

2022 22,319,063 22,319,063

2021 $ 23,281,617 $ 23,281,617

2020 $ 20,940,906 $ 20,940,906

2019 $ 33,165,263 $ 33,165,263

2018 $ 32,079,432 $ 32,079,432

Contribution deficiency (excess)

$

-

$

-

$

-

$

-

$

-

District's covered employee payroll

$ 680,379,358 $ 652,236,841 $ 637,114,654 $ 575,518,845 $ 555,635,744

Contributions as a percentage of covered-employee payroll

3.28%

3.57%

3.29%

5.76%

5.77%

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

77

COBB COUNTY SCHOOL DISTRICT Required Supplementary Information JUNE 30, 2022
Notes to Required Supplementary Information For the Year Ended June 30 School OPEB Fund Changes of benefit terms: There have been no changes in benefit terms. Changes in assumptions: In the June 30, 2019 valuation, decremental assumptions were changed to reflect the Teacher Retirement Systems experience study. The June 30,2017 actuarial valuation was revised, for various factors, including the methodology used to determine how employees and retirees were assigned to each of the OPEB Funds annd anticipated participation percentages. Current and former employees of State organizations (including technical colleges, community service boards and public health departments) are now assigned to the State OPEB fund based on their last employer payroll location irrespective of retirement affiliation. The discount rate was updated from 3.07% as of June 30, 2016 to 3.58% as of June 30, 2017 to 3.87% as of June 30, 2018, and back to 3.58% as of June 30, 2019. 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.
78

(This page was left blank intentionally)

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

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

Donations Venue Mgmt/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.

79

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 Title II

This fund is established to provide accounting of Title I funds which are provided as part of the No Child Left Behind Act of 2001. This act provides federal funds through the Georgia Department of Education to local school districts to help disadvantaged children meet high standards. The goal is to have a quality education for all children by having local schools and state departments work together.
This fund is established to provide accounting of federal revenues received to provide programs for direct and related support services for handicapped children.
This fund is established to provide accounting of federal grant revenues provided for career training and opportunities to students.
This fund is established to provide accounting of federal categorical grant funds which flow through the Georgia Department of Education to our school district. The funds are used to advance teacher quality through professional learning, preparation, recruitment and retention as well as upgrading teachers' skills in science and math through training.

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.

80

Title IV CARES ACT

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 relief to government organizations that been hit hard by the effects of COVID-19.

Local School Funds

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. Beginning in fiscal year 2020, Student activity funds are reported in this fund.

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 IV Fund.

81

COBB COUNTY SCHOOL DISTRICT COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2022
(amounts expressed in thousands)
ASSETS:
Cash and Cash Equivalents Investments Intergovernmental Receivable Accounts Receivable Due From Other Funds Inventories
Total Assets
LIABILITIES AND FUND BALANCES:
Liabilities: Accounts Payable Accrued Payroll and Payroll Withholdings Intergovernmental Payable 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

Donations

Special Revenue

Venue Mgmt/ Public Safety

After
School Program

Performing Arts/ Art Career and Cultural

$ 833 $ 1,037 $ 2,982 $

483

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

$ 833 $ 1,037 $ 2,982 $

483

$

7 $ 320 $

10 $

-

-

43

2

-

-

-

-

-

-

4

-

-

-

-

-

-

-

-

-

-

7

367

12

-

-

-

-

-

-

-

-

-

826

670

2,970

483

-

-

-

-

826

670

2,970

483

$ 833 $ 1,037 $ 2,982 $

483

82

Tuition School/ Adult High School

Misc. Grants

Special Revenue

School Nutrition/
FNS Catered Food Service

PRE K Lottery

Adult Education

GNETS

$ 3,401 $ -
$ 3,401 $

174 $ -
104 -
278 $

29,394 $ -
142 8 -
2,900 32,444 $

-$ -$

-$

-

-

-

278

1,135

-

-

-

-

-

-

278 $ 1,135

$

14 $

424 -
35 -
473

-$
-

268 $
370 -
833 -
865 2,336

2,928 2,928 $ 3,401 $

278
278 278 $

2,900 27,208
30,108 32,444 $

-$

1$

14

-

46

142

-

-

-

-

16

62

-

215

728

-

-

-

-

278

946

-$

-

-

-

189

-

-

-

-

-

189

278 $ 1,135

Continued---

83

COBB COUNTY SCHOOL DISTRICT COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2022
(amounts expressed in thousands)
ASSETS:
Cash and Cash Equivalents Investments Intergovernmental Receivable Accounts Receivable Due From Other Funds Inventories
Total Assets
LIABILITIES AND FUND BALANCES:
Liabilities: Accounts Payable Accrued Payroll and Payroll Withholdings Intergovernmental Payable 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 Education

Vocational Education

Title II

$

-$

-$

-

-

4,897

5,316

-

-

-

-

-

-

$ 4,897 $ 5,316 $

-$

-

-

-

-

594

-

-

-

-

-

-

-$

594

$ 139 $

-$

725 -
277 3,756
4,897

1,072 -
499 3,745
5,316

-

-

-

-

-

-

-

-

-

-

$ 4,897 $ 5,316 $

-$

-

-

55

-

-

-

21

-

518

-

-

-

594

-

-

-

-

-

-

-

-

-

-

-$

594

84

Special Revenue

Homeless Grant

USDA Fruits and Vegetables

Title III

Title IV

CARES ACT

$

-$

-$

-$

-$

-

-

-

-

-

-

61

-

388

546

268

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

$

61 $

- $ 388 $ 546 $ 268

$

-$

-$

71 $

32 $

48

15

-

83

25

19

-

-

-

1

-

4

-

17

4

12

42

-

217

484

189

-

-

-

-

-

61

-

388

546

268

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

$

61 $

- $ 388 $ 546 $ 268

Continued---

85

COBB COUNTY SCHOOL DISTRICT COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS JUNE 30, 2022
(amounts expressed in thousands)
ASSETS:
Cash and Cash Equivalents Investments Intergovernmental Receivable Accounts Receivable Due From Other Funds Inventories
Total Assets
LIABILITIES AND FUND BALANCES:
Liabilities: Accounts Payable Accrued Payroll and Payroll Withholdings Intergovernmental Payable 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
Local School Funds

Capital Projects

Special Purpose
Local Option Sales Tax IV

District Building
Fund

Total

$ 12,021 $ 277 646 -
$ 12,944 $

7,089 $
7,089 $

6,314 $
6,314 $

63,728 277
13,729 8
646 2,900 81,288

$

-$

-

12,944 12,944 $ 12,944 $

934 $
934

47 $
47

1,905
3,021 1
1,784 9,894
865 17,470

6,155
6,155 7,089 $

6,267 6,267 6,314 $

2,900 33,830 20,821 6,267 63,818 81,288

Concluded.

86

(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, 2022

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

Donations

Special Revenue

Venue

Mgmt/

After

Public

School

Safety

Program

Performing Arts/Art
Career and Culture

$

-$

-$

-$

-

-

1,836

7,678

310

-

-

-

-

-

-

-

-

240

-

-

-

240

1,836

7,678

310

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 Proceeds from Sale of Capital Assets Total Other Financing Sources (Uses)

90

-

1,091

213

40

-

4

-

46

-

-

-

110

835

5,574

-

3

-

-

-

22

2,279

173

-

-

-

-

-

42

79

18

-

353

3,193

6,860

213

(113)

(1,357)

818

97

-

1,491

-

-

-

-

-

-

-

1,491

-

-

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

(113)

134

818

97

939

536

2,152

386

$ 826 $ 670 $ 2,970 $

483

87

Tuition School/ Adult High School

Misc. Grants

Special Revenue
School Nutrition/ FNS Catered PRE K Food Service Lottery

Adult Education

GNETS

$

-$

1,171

-

-

1,171

211 $ 76,141 $

-

5,447

-

42

-

-

221

167

432

81,797

310 $ 1,067 $ 3,852

-

-

-

-

-

-

-

-

-

-

-

84

310

1,067

3,936

863 -
163
160 -
11 -
1,197

86

-

144

-

5

-

11

56,965

-

-

-

-

-

-

67

450

313

57,415

310

650

2,836

-

-

705

-

-

347

-

387

36

-

-

6

-

30

-

-

-

-

-

-

-

310

1,067

3,930

(26)

119

24,382

279 -
279
253
2,675
$ 2,928 $

-

-

-

14

-

14

119

24,396

159

5,712

278 $ 30,108 $

-
-
-$

-

6

-

-

-

-

-

-

-

6

-

183

- $ 189

Continued---

88

COBB COUNTY SCHOOL DISTRICT
COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2022

(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 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 Education

Vocational Education

Title II

$ 21,111 $ 23,567 $

-

-

-

-

-

-

-

-

21,111

23,567

869 $ 2,521

-

-

-

-

-

-

-

-

869

2,521

10,055 1,694 8,868
448 39 7
21,111

11,980 2,082 6,830
1,211 1,464
23,567

449

-

-

-

24

2,218

10

244

-

-

-

-

-

-

386

59

869

2,521

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

$

-$

-$

-$

-

89

Special Revenue

Homeless Grant

USDA Fruit and Vegetables

Title III

Title IV

CARES ACT

$ 222 $ 183 $ 1,405 $ 2,084 $ 806

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

222

183

1,405

2,084

806

26

-

366

926

494

37

-

162

600

214

80

-

634

365

51

38

183

-

97

1

41

-

-

13

-

-

-

-

4

46

-

-

-

-

-

-

-

243

79

-

222

183

1,405

2,084

806

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

$

-$

-$

-$

-$

-

Continued---

90

COBB COUNTY SCHOOL DISTRICT
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL FUNDS FOR THE YEAR ENDED JUNE 30, 2022

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

Special Revenue

Capital Projects

Local School Funds

Special Purpose Local Option Sales Tax IV

District Building
Fund

Total

$

-$

20,137

-

2,990

-

23,127

3,136 $ -
18 -
3,154

1,021 $ 138,506

7

36,586

8

68

-

2,990

-

712

1,036

178,862

EXPENDITURES: Current:
Instruction Pupil Services Instructional Services School and Administrative
Services Student Transportation Maintenance and Operation of Plant Student Activities Capital Outlay
Total Expenditures

-
21,965 21,965

-
6,373 6,373

-
2,297 2,297

30,435 5,682 19,631
66,310 1,566 2,565 21,965 10,100 158,254

Excess (Deficiency) of Revenues Over (Under) Expenditures
Other Financing Sources (Uses): Transfers-In Proceeds from Sale of Capital Assets Total Other Financing Sources (Uses)

1,162
-

(3,219)
-

(1,261)
4,465 31
4,496

20,608
6,235 45
6,280

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

1,162 11,782 $ 12,944 $

(3,219) 9,374 6,155 $

3,235 3,032 6,267 $

26,888 36,930 63,818

Concluded.

91

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, 2022
(amounts expressed in thousands)

REVENUES: Local
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

240 $

240 $

240 $

-

240

240

240

-

EXPENDITURES: Instruction

232

232

91

141

Pupil Services

76

76

40

36

Improvement of Instructional Services

96

97

46

51

General Administration

4

4

-

4

School Administration

4

3

-

3

Business Services

3

3

1

2

Maintenance and Operation of Plant

44

44

22

22

Student Transportation

9

9

3

6

Central Operations

662

662

126

536

Other Support Services Community Services Operations

48

48

24

24

1

1

-

1

Total Expenditures

1,179

1,179

353

826

Net Change in Fund Balance Fund Balance, Beginning of Year

(939)

(939)

(113)

826

939

939

939

-

Fund Balance, End of Year

$

-$

-$

826 $

826

92

COBB COUNTY SCHOOL DISTRICT VENUE MANAGEMENT/ 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, 2022
(amounts expressed in thousands)

REVENUES: Local Other
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

1,274 $

1,274 $

1,836 $

562

1,491

1,491

1,491

-

2,765

2,765

3,327

562

EXPENDITURES: Maintenance and Operation of Plant Community Service Operations
Total Expenditures

2,041 724
2,765

2,041 809
2,850

2,279 914
3,193

(238) (105)
(343)

Net Change in Fund Balance Fund Balance, Beginning of Year

-

(85)

134

219

536

536

536

-

Fund Balance, End of Year

$

536 $

451 $

670 $

219

93

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, 2022
(amounts expressed in thousands)

REVENUES: Local
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

7,815 $

7,815 $

7,678 $

7,815

7,815

7,678

(137) (137)

EXPENDITURES: Instruction Pupil Services Business Services Maintenance and Operation of Plant Community Service Operations
Total Expenditures

1,359 -
6,456 7,815

1,359 -
7,145 8,504

1,091 4
16 173 5,576 6,860

268 (4)
(16) (173) 1,569 1,644

Net Change in Fund Balance Fund Balance, Beginning of Year

2,152

Fund Balance, End of Year

$

2,152 $

(689) 2,152 1,463 $

818 2,152 2,970 $

1,507 -
1,507

94

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, 2022
(amounts expressed in thousands)

REVENUES: Local
Total Revenues
EXPENDITURES: Instruction
Total Expenditures

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

423 $

423 $

310 $

(113)

423

423

310

(113)

423

423

213

210

423

423

213

210

Net Change in Fund Balance Fund Balance, Beginning of Year

-

-

97

97

386

386

386

-

Fund Balance, End of Year

$

386 $

386 $

483 $

97

95

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, 2022
(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 Community Services Operations
Total Expenditures

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

1,421 $

1,421 $

1,171 $

279

279

279

1,700

1,700

1,450

(250) -
(250)

1,294

1,294

863

431

145

145

163

(18)

8

8

-

8

23

23

-

23

1

1

11

(10)

229

229

160

69

1,700

1,700

1,197

503

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

-

-

253

253

2,675

2,675

2,675

-

$

2,675 $

2,675 $

2,928 $

253

96

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, 2022
(amounts expressed in thousands)

REVENUES: Local State Other Sources
Total Revenues
EXPENDITURES: Instruction Pupil Services Instructional Staff Training General Administration
Total Expenditures

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

40 $

120 $

150 $

30

67

211

211

-

20

60

71

11

127

391

432

41

40

120

86

34

67

211

211

-

-

49

5

44

20

11

11

-

127

391

313

78

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

-

-

119

119

159

159

159

-

$

159 $

159 $

278 $

119

97

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, 2022
(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

$

11,525 $

3,899 $

5,567 $

1,350

1,416

3,147

26,318

57,494

72,994

40

44

103

39,233

62,853

81,811

1,668 1,731 15,500
59 18,958

48,469 48,469

60,069 60,069

57,415 57,415

2,654 2,654

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

(9,236) 5,712

$

(3,524) $

2,784 5,712 8,496 $

24,396 5,712
30,108 $

21,612 -
21,612

98

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, 2022
(amounts expressed in thousands)

REVENUES: State Federal
Total Revenues
EXPENDITURES: Instruction
Total Expenditures

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

106 $

298 $

298 $

-

-

12

12

-

106

310

310

-

106

310

310

-

106

310

310

-

Net Change in Fund Balance

-

-

-

-

Fund Balance, Beginning of Year

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

99

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, 2022
(amounts expressed in thousands)

REVENUES: State Federal
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

444 $

444 $

400 $

773

793

667

1,217

1,237

1,067

(44) (126)
(170)

EXPENDITURES:

Instruction

681

742

650

92

Improvement of Instructional Services

511

460

387

73

Maintenance of Plant Services

25

35

30

5

Total Expenditures

1,217

1,237

1,067

170

Net Change in Fund Balance

-

-

-

-

Fund Balance, Beginning of Year

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

100

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, 2022
(amounts expressed in thousands)

REVENUES: State Federal Other
Total Revenues
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services General Administration School Administration Maintenance and Operation of Plant Student Transportation
Total Expenditures

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

3,813 $

3,574 $

3,510 $

365

456

342

114

114

84

4,292

4,144

3,936

(64) (114)
(30) (208)

3,474 551 225 38 2 1 1
4,292

3,117 873 103 34 1 9 7
4,144

2,836 705 347 35 1 6
3,930

281 168 (244)
(1) 9 1
214

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

-

-

6

6

183

183

183

-

$

183 $

183 $

189 $

6

101

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, 2022
(amounts expressed in thousands)

REVENUES: Federal
Total Revenues
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services Instructional Staff Training Federal Grant Administration General Administration Student Transportation
Total Expenditures

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

21,692 $

24,977 $

21,111 $

21,692

24,977

21,111

(3,866) (3,866)

9,843 1,906
309 8,236
760 574
64 21,692

12,033 2,116 530 8,988 714 529 67
24,977

10,062 1,694 297 7,998 573 448 39
21,111

1,971 422 233 990 141 81 28
3,866

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

-

-

-

-

-

-

-

-

$

-$

-$

-$

-

102

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, 2022
(amounts expressed in thousands)

REVENUES: Federal
Total Revenues
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services Instructional Staff Training General Administration Student Transportation
Total Expenditures

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

21,891 $

27,940 $

23,567 $

21,891

27,940

23,567

(4,373) (4,373)

9,819 1,855 7,070
1,304 1,843 21,891

12,504 2,774 9,336 6 1,486 1,834
27,940

11,980 2,082 6,830 1,211 1,464
23,567

524 692 2,506
6 275 370 4,373

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

-

-

-

-

-

-

-

-

$

-$

-$

-$

-

103

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, 2022
(amounts expressed in thousands)

REVENUES: Federal
Total Revenues
EXPENDITURES: Instructional Instructional Staff Training Federal Grant Administration General Administration
Total Expenditures

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

833 $

869 $

869 $

-

833

869

869

-

748

835

835

-

55

12

12

-

14

12

12

-

16

10

10

-

833

869

869

-

Net Change in Fund Balance

-

-

-

-

Fund Balance, Beginning of Year

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

104

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, 2022
(amounts expressed in thousands)

REVENUES: Federal
Total Revenues
EXPENDITURES: Instructional Staff Training Federal Grant Administration General Administration Support Services - Central
Total Expenditures

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

2,998 $

3,914 $

2,521 $

(1,393)

2,998

3,914

2,521

(1,393)

2,429 112 79 378
2,998

3,556 116 59 183
3,914

2,162 115 54 190
2,521

1,394 1 5 (7)
1,393

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

-

-

-

-

-

-

-

-

$

-$

-$

-$

-

105

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, 2022
(amounts expressed in thousands)

REVENUES: Federal
Total Revenues
EXPENDITURES: Instructional Pupil Services Federal Grant Administration General Administration Student Transportation Other Support Services
Total Expenditures

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

104 $

710 $

222 $

(488)

104

710

222

(488)

25

89

26

63

5

216

37

179

54

79

80

(1)

3

155

36

119

17

164

-

7

41

123

2

5

104

710

222

488

Net Change in Fund Balance

-

-

-

-

Fund Balance, Beginning of Year

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

106

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, 2022
(amounts expressed in thousands)

REVENUES: Federal
Total Revenues
EXPENDITURES: School Nutrition
Total Expenditures

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

156 $

183 $

183 $

-

156

183

183

-

156

183

183

-

156

183

183

-

Net Change in Fund Balance

-

-

-

-

Fund Balance, Beginning of Year

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

107

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, 2022
(amounts expressed in thousands)

REVENUES: Federal
Total Revenues
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services Instructional Staff Training Federal Grant Administration
Total Expenditures

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

1,468 $

1,937 $

1,405 $

1,468

1,937

1,405

(532) (532)

544

655

594

61

165

162

164

(2)

563

678

535

143

179

427

17

15

99

328

13

2

1,468

1,937

1,405

532

Net Change in Fund Balance

-

-

-

-

Fund Balance, Beginning of Year

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

108

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, 2022

(amounts expressed in thousands)
REVENUES: Federal
Total Revenues

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

2,265 $

4,104 $

2,084 $

(2,020)

2,265

4,104

2,084

(2,020)

EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services Instructional Staff Training Federal Grant Administration General Administration School Administration Business Support Services Maintenance and Operation of Plant Student Transportation Other Support Service
Total Expenditures

1,049 341 183 380 71 61 15 28 27 89 21
2,265

1,757 633 334
1,004 99 105 15 33 24 79 21
4,104

967 624 122 186 71 44
4 27 5 13 21 2,084

790 9
212 818 28 61 11
6 19 66
2,020

Net Change in Fund Balance

-

-

-

-

Fund Balance, Beginning of Year

-

-

-

-

Fund Balance, End of Year

$

-$

-$

-$

-

109

COBB COUNTY SCHOOL DISTRICT CARES ACT FUNDING-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, 2022
(amounts expressed in thousands)

REVENUES: Federal
Total Revenues
EXPENDITURES: Instruction Pupil Services Improvement of Instructional Services General Administration Maintenance amd Operation of Plant Student Transportation
Total Expenditures

Budgeted Amounts

Original

Final

Actual Amounts

Variance With Final Budget

$

-$

870 $

806 $

(64)

-

870

806

(64)

-

498

494

4

-

264

214

50

-

51

51

-

-

1

1

-

-

55

46

9

-

1

-

1

-

870

806

64

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

-

-

-

-

-

-

-

-

$

-$

-$

-$

-

110

(This page was left blank intentionally)

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.
111

COBB COUNTY SCHOOL DISTRICT COMBINING STATEMENT OF FUND NET POSITION INTERNAL SERVICE FUNDS JUNE 30, 2022

(amounts expressed in thousands)

Assets:

Unemployment Compensation
Fund

SelfInsurance
Fund

Total

Current Assets: Cash
Total Current Assets

$

75 $

15,373 $

15,448

75

15,373

15,448

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

$

2

129

131

-

5,062

5,062

-

1

1

-

1

1

2

5,193

5,195

-

2,638

2,638

2

7,831

7,833

73 $

7,542 $

7,615

112

COBB COUNTY SCHOOL DISTRICT
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITION
INTERNAL SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2022

(amounts expressed in thousands)

OPERATING REVENUES: Charges for Services
Total Revenues

Unemployment Compensation
Fund

SelfInsurance
Fund

Total

$

110 $

7,264 $

7,374

110

7,264

7,374

OPERATING EXPENSES: School and Administrative Services Capital Outlay
Total Expenditures

43

6,595

6,638

-

13

13

43

6,608

6,651

Change in Net Position Total Net Position, Beginning of Year Total Net Position, End of Year

67

656

723

6

6,886

6,892

$

73 $

7,542 $

7,615

113

COBB COUNTY SCHOOL DISTRICT STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS FOR THE YEAR ENDED JUNE 30, 2022
(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
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 Prepaid Items Decrease in Claims Payable Increase in Accounts Payable Decrease in Accrued Payroll and Payroll Withholdings Total Adjustments
Net Cash Provided by Operating Activities

Unemployment Compensation
Fund

$

110 $

-

(41)

-

69

SelfInsurance
Fund

Total

7,264 $ (476) (6,002) (552)

7,374 (476) (6,043) (552)

234

303

69

234

303

6

15,139

15,145

75

15,373

15,448

$

67 $

656 $

723

71

71

-

(600)

(600)

2

108

110

-

(1)

(1)

2

(422)

(420)

$

69 $

234 $

303

114

(This page was left blank intentionally)

COBB COUNTY SCHOOL DISTRICT SPLOST 4 - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2022

LOCATION/DESCRIPTION

Approved Budget

Revised Budget

Expended Inception through 06/30/22 (1)

Expended FY22 (1)

Encumbered as of 06/30/22

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 REPLACEMENT ES CLAY ES COBB INNOVATION & TECHNOLOGY (CITA) CLAY-HARMONY LELAND REPLACEMENT 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 REPLACEMENT ES EASTVALLEY ES FAIR OAKS ES FITZHUGH LEE FLOYD MS FORD ES FREY ES GARRETT MS GARRISON MILL ES GREEN ACRES ES GRIFFIN MS HARMONY LELAND ES HARRISON HS HAVEN @ HAWTHORNE HAVEN @ SKY VIEW HAWTHORNE ADMINISTRATION 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) LABELLE ES LASSITER HS

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 29,884,400
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
160,393 13,447,646

1,204,833 1,177,241
394,897 2,438,196
741,428 782,957 1,253,016 1,670,014
35,767 1,267,808 1,324,136 1,009,398 1,320,052 1,456,130 1,088,836 1,171,834 26,696,949 1,314,638 1,452,986 19,115,151 7,982,944 1,032,128 2,631,872 1,069,217
901,137 23,143,092
10,083 1,248,302 1,411,860 1,561,013 1,115,658 1,572,964 3,763,699 1,458,366 1,091,524 1,307,372 1,068,188 38,263,238 1,291,403
988,409 1,322,910
11,667 1,223,556 1,428,413 2,697,732 4,495,967 1,186,773 2,232,630 3,172,385
955,474 28,288,156
20,827 919,077 247,875 5,794,447 1,851,806 3,787,232 3,222,945 1,124,043 907,869 1,085,952 2,648,602 1,362,041 1,024,718 3,011,046 13,991,862 1,009,419 1,296,928 143,963 1,123,772 20,345,799

1,204,827 1,177,235
388,894 2,427,791
741,422 782,953 1,253,010 1,670,006
35,767 1,249,796 1,324,129 1,009,393 1,320,043 1,456,118 1,088,831 1,171,829 26,696,939 1,314,633 1,452,981 19,102,482 7,982,938 1,032,124 2,631,866 1,069,211
891,941 23,138,346
10,083 1,248,293 1,411,853 1,561,007 1,115,652 1,572,913 3,763,692 1,458,361 1,091,514 1,307,368 1,068,185 38,263,227 1,291,397
988,403 1,322,906
11,667 1,223,552 1,428,405 2,697,728 1,598,380 1,186,767 2,232,624 3,172,379
955,469 28,277,746
20,827 919,073 247,875 5,794,440 1,851,802 3,787,226 3,210,285 1,124,036 907,865 1,085,926 2,637,416 1,362,035 1,024,713 3,000,635 13,991,858 1,009,414 1,296,923 143,963 1,123,762 20,299,938

14,471 768 12,512 7,711 12,905 446 14,503 57,498 13,452 1,540 30,255 7,346 7,537 29,052 4,618 545 2,588 11,758 8,977 18,074 382,382 303 3,755 12,789 46,093 1,105 30,958 57,853 23,027 1,749 5,794 6,967 20,778

4,800 10,400 17,500 10,400 9,180 2,710,839 10,400 10,400 10,400 10,400 -

6 6 1,203 5 6 4 6 8 512 7 5 9 12 5 5 10 5 5 2,269 6 4 6 6 16 4,746 9 7 6 6 51 7 5 10 4 3 11 6 6 4 4 8 4 186,748 6 6 6 5 10 4 7 4 6 2,260 7 4 26 786 6 5 11 4 5 5 10 45,861

115

COBB COUNTY SCHOOL DISTRICT SPLOST 4 - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2022

LOCATION/DESCRIPTION

Approved Budget

Revised Budget

Expended Inception through 06/30/22 (1)

Expended FY22 (1)

Encumbered as of 06/30/22

Uncommitted

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 PEARSON 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 EARLY LEARNING CENTER 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 484 GLOVER STREET 514 GLOVER STREET 538 GLOVER STREET 560 GLOVER STREET 580 GLOVER STREET 590 COMMERCE PARK 650 SOUTH COBB DR TOTAL PROJECT EXPENDITURES

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 3,383,412 201,887,135 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 $

1,761,698 894,357
1,287,028 8,972,351 1,545,137 1,366,940 2,077,172
37,876 45,831 14,682 683,058 2,346,744 1,449,857 11,249,656 784,870 1,311,936 735,376 31,763,588 1,120,166 1,029,266 1,809,077 29,081,344 1,360,722 2,629,149 64,686,881 1,373,872
600 5,613,582 1,107,379 1,010,276 1,214,640 27,212,034 28,277,558 2,048,804
627,687 1,414,430
905,840 908,886
53,012 1,042,636 1,135,679 1,622,645 1,447,964 1,578,653 1,152,957 1,835,570
841,047 4,897,013
155,901 13,532,184
3,063,308 1,212,076 10,316,217 1,273,188 5,588,930
991,547 1,609,504 1,725,918 1,090,079 1,008,363 95,235,191 28,509,111 12,352,088
54,360 10,582,415
54,701 140,425 173,632
41,391 330,194 718,172,871 $

1,754,829 894,354
1,287,024 8,972,347 1,545,133 1,366,933 2,077,169
37,874 45,831 14,682 683,054 2,346,740 1,449,853 11,249,650 784,864 1,311,930 735,372 31,763,583 1,120,161 1,029,224 1,808,701 29,070,932 1,360,713 2,629,142 64,318,201 1,373,868
5,592,776 1,106,936 1,010,270 1,207,565 27,212,034 28,267,147 2,030,808
627,684 1,414,427
905,834 908,881
52,639 1,042,633 1,128,871 1,622,645 1,447,944 1,578,644 1,152,951 1,835,566
814,066 3,574,623
148,441 13,521,148
3,050,544 1,212,073 8,265,549 1,273,183 5,563,346
965,965 1,583,920 1,700,334 1,090,072 1,008,360 95,224,544 28,410,230 11,714,725
54,360 10,574,890
54,701 138,870 173,632
41,391 330,192 710,382,666 $

43,139 -
2,066 70,865
1,437 124,964 2,312 13,214 18,951 2,452,808 12,514 9,562 12,325 2,696 2,377 1,437 6,379 1,960,975 7,679 13,678 364,409 25,576 20,563 5,336 25,576 54,971 49,700 101,224 110,774 5,747 6,373,363 $

10,400 46,018 600 11,525 7,070 10,400 6,801 25,576 1,260,429 10,400 10,400 25,576 25,576 25,576 25,576 10,400 14,223 4,331,265 $

6,869 3 4 4 4 7 3 2
-
4 4 4 6 6 6 4 5 5 42 376 12 9 7 322,662 4 9,281 443 6 5 11 17,996 3 3 6 5 373 3 7 20 9 6 4 1,405 61,961 7,460 636 2,364 3 2,050,668 5 8 6 8 8 7 3 247 84,658 637,363 7,525 1,555 2 3,458,940

(1) The voters of Cobb County approved the imposition of a 1% sales tax to fund the above projects and retire associated short-term debt. Amounts expended for these projects may include sales tax proceeds, state funding and other funds over the life of the projects.

116

COBB COUNTY SCHOOL DISTRICT SPLOST 5 - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2022

LOCATION/DESCRIPTION

Approved Budget

Revised Budget

Expended Inception through 06/30/22

Expended FY22

Encumbered as of 6/30/22

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 BROWN LEARNING CENTER BRUMBY REPLACEMENT ES BRYANT ES BULLARD ES CAMPBELL HS CAMPBELL MS CHALKER ES CHEATHAM HILL ES CITY VIEW ES CLARKDALE ES CLAY ES CLAY-HARMONY LELAND REPLACEMENT ES COBB INNOVATION & TECHNOLOGY 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 REPLACEMENT ES EASTVALLEY ES EASTVALLEY REPLACEMENT ES FAIR OAKS ES FLOYD MS FORD ES FREY ES GARRETT MS GARRISON MILL ES GREEN ACRES ES GRIFFIN MS HARRISON HS HAVEN @ SKY VIEW HAYES ES HENDRICKS ES HIGHTOWER TRAIL MS HILLGROVE HS HOLLYDALE ES HORIZON HS HORIZON RELOCATION HS INTERNATIONAL WELCOME CENTER KEHELEY ES KELL HS KEMP ES KENNESAW MOUNTAIN HS KENNESAW ES KENNESAW WAREHOUSE KINCAID ES KING SPRINGS ES KING SPRINGS PRIMARY (K-1)

-

886,368

-

4,394,053

-

44,454

-

2,544,002

-

860,395

-

613,465

-

1,573,100

-

793,609

-

-

-

1,059,847

-

370,281

-

3,447,940

-

978,223

-

1,155,143

-

1,555,918

-

12,078

-

485,197

-

6,668,604

-

1,095,896

-

48,418,072

-

6,008,757

-

828,798

-

1,029,720

-

1,761,993

-

491,517

-

175,933

-

32,535,938

-

-

-

705,756

-

1,794,686

-

5,459,090

-

684,535

-

6,270,393

-

5,754,612

-

6,479,009

-

1,420,200

-

5,245,026

-

565,218

-

1,218,867

-

646,177

-

44,185,480

-

966,229

-

3,140,770

-

863,471

-

1,073,078

-

3,054,370

-

738,213

-

671,314

-

2,791,087

-

3,523,011

-

190,491

-

1,790,831

-

801,653

-

1,171,075

-

11,554,771

-

826,202

-

171,838

-

11,520,996

-

62,607

-

744,689

-

2,419,274

-

1,377,028

-

3,779,802

-

752,972

-

9,185,635

-

878,668

-

280,528

-

82,226

814,096 4,258,303
44,454 2,311,471
616,676 549,157 1,224,083 793,480
934,830 350,133 564,496 660,346 937,870 711,626 12,078 465,506 4,289,835 941,710 46,919,010 5,841,238 776,663 998,969 1,121,345 459,629 150,357 32,373,075
472,921 1,484,256 1,003,622 672,405 1,615,374 1,097,273 4,404,256 743,281 1,110,618 533,962 1,090,331 601,345 5,939,547 935,114 1,006,811 725,936 1,073,041 956,128 677,795 586,086 2,622,678 3,210,201 162,010 1,128,273 762,642 1,004,178 3,197,479 719,780 168,775 11,288,099
51,630 731,191 2,101,332 941,818 2,639,748 752,668 5,083,244 876,961 261,543
82,226

44,261 391,911
4,688 356,812 134,313 83,671 432,992 46,286
65,152 64,568 354,342 46,985 198,285 53,315 12,078 166,354 3,373,994 91,621 10,747,717 1,218,165 70,237 55,539 331,320 113,347 1,126 29,327
139,809 90,388 104,405 35,954 615,601 83,186 3,085,003 430,032 165,560 146,830
50,288 42,040 5,576,283 178,021 145,625 24,136 58,801 161,855 55,473 275,733 87,567 386,528 20,432 295,497 102,598 105,932 993,139 (111,849)
2,714,475
1,131 (155,623) 292,225
88,243 592,359 19,431 1,375,579 (129,564)
7,894 -

67,913 5,626
152,256 224,460 48,037 349,017
103 -
62,755 10,002 277,177 98,951 139,559 83,843
14,820 1,912,017 51,836 1,104,215 65,716 1,712 29,564 301,757 27,820 25,576 137,501
152,979 86,677 217,828
103 446,384 189,007 1,897,624 656,915 108,212
25,679 26,008 33,422,937 25,576 122,825 64,148
44,405 35,519 74,530 78,384 254,050 25,576 421,837 32,674
4,180 6,746,235
92,126 -
93,013 -
103 35,190 41,984 155,004
50,473 1,121 10,357
-

4,359 130,124
80,275 19,259 16,271
26
62,262 10,146 2,606,267 218,926 77,714 760,449
4,871 466,752 102,350 394,847 101,803 50,423 1,187 338,891 4,068
25,362
79,856 223,753 4,237,640 12,027 4,208,635 4,468,332 177,129 20,004 4,026,196 31,256 102,857 18,824 4,822,996
5,539 2,011,134
73,387 37
2,053,837 24,899 10,698 90,025 58,760 2,905 240,721 6,337 162,717
1,611,057 14,296 3,063
139,884 10,977 13,395 282,752 393,226 985,050
304 4,051,918
586 8,628
-

117

COBB COUNTY SCHOOL DISTRICT SPLOST 5 - SPECIAL PURPOSE LOCAL OPTION SALES TAX PROJECTS FISCAL YEAR 2022

LOCATION/DESCRIPTION

Approved Budget

Revised Budget

Expended Inception through 06/30/22

Expended FY22

Encumbered as of 6/30/22

Uncommitted

KING SPRINGS REPLACEMEMT ES 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 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 PEARSON MS PEBBLEBROOK HS PICKETT'S MILL ES PINE MOUNTAIN MS PITNER ES PITTS TRANSPORTATION CENTER POPE HS POWDER SPRINGS ES POWERS FERRY ES RIVERSIDE ES 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 EARLY LEARNING CENTER 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 STREET 514 GLOVER STREET 538 GLOVER STREET 560 GLOVER STREET 580 GLOVER STREET 650 SOUTH COBB DR TOTAL PROJECT EXPENDITURES

797,022,000 $ 797,022,000 $

40,449,868 2,982,939 6,222,455 6,166,020 1,604,719 1,923,862 1,642,054 7,396,014
653,379 1,063,411
36,049 -
553,244 905,015 1,171,087 5,570,833 1,446,621 4,392,764 435,539 1,008,399 592,867 622,733 9,998,041 891,118 1,344,414 16,140,317 2,170,335 45,101,941 64,399,596 822,184 900,278 456,163 13,221,774 3,022,482 671,904 580,660 1,034,707 761,689
1,073,709 4,934,729
989,236 946,825 977,693 1,378,120 1,098,764 1,180,278 732,035 21,221,404 30,768,913 506,380 53,906,375 68,608,946 2,047,088 862,590 637,981 973,580 1,033,893 1,150,108 16,852,631 4,096,177 2,230,262 15,725,409 39,282,499
7,600 29,913 889,107 787,130,899 $

40,424,187 2,711,090 3,350,011 3,939,216 1,010,649 1,560,160 1,391,583 2,122,330
593,807 1,059,978
35,235 -
549,345 858,033 1,135,121 4,119,510 1,036,167 1,787,160 430,671 946,315 584,018 540,431 4,555,817 760,783 1,300,841 14,543,355 1,834,101 45,003,309 36,168,060 799,634 823,593 439,851 6,208,760 2,497,515 625,615 537,101 986,565 718,634
821,803 1,041,391
494,592 789,185 938,167 1,325,183 1,058,821 1,028,076 639,971 2,674,153 14,468,047 422,763 17,577,474
1,731,786
755,905 573,624 398,104 831,085 788,945 8,888,800 3,177,152 1,209,729 15,374,006 36,114,371
7,527 21,881 795,649 475,573,755 $

49,087 700,364 314,630 3,665,730 (165,312) 110,336 407,946 1,056,154 141,138 79,390
71,246 73,618 92,476 1,852,243 505,536 895,773 59,075 69,757 27,006 34,562 1,930,104 18,686 155,052 13,279,503 116,259 5,212,484 20,862,544 43,262 64,978 27,236 5,081,447 453,643 77,522 72,256 148,288 48,055 20,247 265,328 117,230 77,754 57,248 125,004 149,175 15,137 69,349 369,994 10,991,278 27,080 4,671,089 760,546 20,019 29,959 124,701 34,318 29,470 1,956,708 834,737 376,732 22,549 3,353,208 7,527 10,268 403,017 119,191,169 $

25,679 140,761 189,023 1,912,714 239,248 111,291 146,108 4,286,087 52,947
3,430 -
22,752 15,471 488,896 308,434 337,994 1,378 51,404
895 41,323 1,908,036 125,472 15,327 1,127,721 332,888 32,169 23,487,974 18,804 58,400
2,366 3,809,030
80,926 4,858 39,619 26,697 30,635
163,172 47,627
98,080 9,385 21,586 22,317 24,336 111,022 82,852 856,780 13,277,847 69,997
1,998 -
260,208 88,916 53,836 468,371 90,428 361,032 6,515,272 691,092
2,500 297,673
7,783 -
7,865 66,800 114,007,428 $

2 131,088 2,683,421 314,090 354,822 252,411 104,363 987,597
6,625 3
814 -
3,899 24,230 20,495 962,427 102,020 2,267,610 3,490 10,680 7,954 40,979 3,534,188 4,863 28,246 469,241
3,346 66,463 4,743,562 3,746 18,285 13,946 3,203,984 444,041 41,431 3,940 21,445 12,420
88,734 3,845,711
396,564 148,255 17,940 30,620 15,607 41,180
9,212 17,690,471 3,023,019
13,620 36,326,903 68,608,946
55,094 17,769 10,521 107,105 112,380
131 1,448,559
227,933 1,018,033
53,730 3,160,345
73 167 26,658 197,549,716

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 Statements No. 68 and 71 as of July 1, 2014, implementation of GASB Statement No. 75 as of July 1, 2017 and the implementation of GASB Statement No. 87 as of July 1, 2021.
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: Capital Projects Fund School Nutrition Service Fund Miscellaneous Grants GNETS General Fund Bus Purchases
Unrestricted (Deficit)
Total Net Position

June 30, 2013 $ 1,262,788

Fiscal Year June 30, 2014 June 30, 2015(1)

June 30, 2016

$ 1,256,656 $ 1,329,345 $ 1,371,599

49,860 20,924
20 -
149,881

110,228 19,213 3 -
157,363

$ 1,483,473 $ 1,543,463 $

92,760 19,295
43 -
(710,349)
731,094 $

117,940 19,200 64 -
(701,830)
806,973

(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. (3) Net Position was restated due to the implementation of GASB No. 87 effective July 1, 2021.
Source: District Records

120

June 30, 2017 $ 1,444,579

June 30, 2018(2) $ 1,463,720

Fiscal Year

June 30, 2019

June 30, 2020

$ 1,535,405 $ 1,604,839

June 30, 2021 June 30, 2022 (3) $ 1,627,347 $ 1,655,625

96,550 19,198
(731,265)

123,455 18,910 -
(1,625,362)

104,068 18,247 33 311 -
(1,536,928)

92,605 8,347 50 306 -
(1,530,921)

112,909 5,712 159 183 927
(1,517,147)

170,017 30,108 278 189 927
(1,324,813)

$

829,062 $

(19,277) $

121,136 $

175,226 $

230,090 $

532,331

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 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 Sales Tax Intergovernmental Interest Income Gain on Sale of Capital Assets Other Total General Revenues
Change in Net Position

June 30, 2013

Fiscal Year

June 30, 2014

June 30, 2015

June 30, 2016

$

685,671 $

677,187 $

704,451 $

754,427

27,093

26,938

27,468

31,201

53,389

45,115

47,475

45,668

156,481

161,460

173,717

186,859

46,888

49,563

49,975

52,503

70,437

63,398

53,469

59,762

-

419

-

-

28,525

30,780

32,164

31,116

-

-

-

-

$ 1,068,484 $ 1,054,860 $ 1,088,719 $ 1,161,536

$

1,101 $

913 $

1,121 $

1,192

10

13

10

11

29,104

28,035

27,963

29,008

1,842

2,004

1,830

1,127

28,608

30,970

31,193

31,169

504,819

512,800

545,592

579,489

7,524

8,085

5,867

18,902

$

573,008 $

582,820 $

613,576 $

660,898

$

(495,476) $

(472,040) $

(475,143) $

(500,638)

$

400,271 $

404,759 $

421,043 $

443,533

121,008

121,712

126,923

128,980

-

-

-

-

1,632

1,697

1,352

1,242

-

175

-

-

1,347

3,687

1,769

2,762

$

524,258 $

532,030 $

551,087 $

576,517

$

28,782 $

59,990 $

75,944 $

75,879

Source: District Records

122

June 30, 2017

June 30, 2018

Fiscal Year

June 30, 2019

June 30, 2020

June 30, 2021

June 30, 2022

$

834,731 $

842,846 $

833,448 $

976,197

36,683

37,822

37,209

47,402

49,846

49,754

53,378

59,389

202,694

207,198

196,042

198,713

56,325

61,737

61,112

62,984

66,763

73,717

74,614

90,260

397

-

-

-

31,075

30,691

31,664

29,450

-

167

871

1,084

1,035,625 43,170 63,289
200,280 57,665 120,068
10,818
466

908,906 35,776 57,860 192,376 59,496 122,130
21,965
175

$ 1,278,514 $ 1,303,932 $ 1,288,338 $ 1,465,479 $ 1,531,381 $ 1,398,684

$

1,187 $

1,239 $

1,286 $

1,605 $

1,015 $

1,478

11

9

-

-

-

29,135

37,472

39,668

34,674

11,774

21,833

898

2,401

2,329

1,507

1,748

2,303

30,977

31,664

32,246

29,661

10,785

23,127

614,312

632,068

634,436

687,696

773,299

788,912

9,714

2,658

5,650

26,356

2,294

16,861

$

686,234 $

707,511 $

715,615 $

781,499 $

800,915 $

854,514

$

(592,280) $

(596,421) $

(572,723) $

(683,980) $

(730,466) $

(544,170)

$

473,864 $

504,117 $

546,318 $

580,281 $

621,641 $

654,322

132,036

137,708

144,769

147,488

161,518

190,383

-

-

-

-

-

1,754

3,741

6,832

5,522

657

1,659

1,694

-

12,335

-

-

5,021

1,964

2,882

3,132

1,514

1,757

$

614,369 $

647,530 $

713,136 $

736,423 $

785,330 $

848,121

$

22,089 $

51,109 $

140,413 $

52,443 $

54,864 $

303,951

123

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

General Fund Nonspendable Restricted Committed Assigned Unassigned
Total General Fund

June 30, 2013

Fiscal Year

June 30, 2014

June 30, 2015

June 30, 2016

$

674 $

676 $

844 $

1,004

-

-

-

-

-

5,000

10,000

8,200

59,272

47,596

31,050

20,342

75,349

89,510

90,588

74,840

$

135,295 $

142,782 $

132,482 $

104,386

All Other Governmental Funds

Nonspendable

$

Restricted

Committed

Assigned

Unassigned

Total All Other Governmental Funds $

1,848 $ 70,804 12,577
2,289 -
87,518 $

1,464 $ 129,444
14,790 1,557 -
147,255 $

1,844 $ 110,264
14,990 1,468 (9)
128,557 $

1,922 135,367
16,169 1,487 (5)
154,940

(a) General Fund assigned fund balance increased due to the sale of assets and allocated for future use.
Source: District Records

124

June 30, 2017

June 30, 2018

Fiscal Year June 30, 2019 (a) June 30, 2020

June 30, 2021 June 30, 2022

$

2,151 $

980 $

828 $

1,227 $

1,234 $

1,333

-

-

-

-

927

927

-

-

-

-

-

-

15,023 96,064

30,535 109,206

66,131 120,705

83,681 139,657

163,978 184,619

181,354 198,307

$

113,238 $

140,721 $

187,664 $

224,565 $ 350,758 $ 381,921

$

1,993 $

2,228 $

2,965 $

113,764

120,492

96,409

16,531

17,042

18,030

786

390

296

(556)

(24)

-

$

132,518 $

140,128 $

117,700 $

3,085 $ 33,738 20,245
4,164 -
61,232 $

2,274 $

2,900

41,983

134,255

18,470

20,821

3,032

6,267

-

-

65,759 $ 164,243

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 Rentals Athletic Ticket Sales Other
Total Revenues

2013
$ 518,604 512,258 56,088 1,717 1,383 3,194 1,347
1,094,591

Fiscal Year

2014

2015

$ 527,683 520,737 57,170 1,846 1,545 3,219 3,687
1,115,887

$ 548,738 552,431 57,750 1,578 1,353 3,013 1,769
1,166,632

2016
$ 572,621 599,546 59,022 1,516 647 2,749 2,481
1,238,582

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: Interest and Fiscal Charges
Total Expenditures

628,513 23,067 51,492 152,266 43,674 59,473 28,525 -
113,346
1,100,356

625,644 23,572 43,083 157,034 45,961 60,286
419 30,780
61,466
1,048,245

675,310 25,373 46,245 172,304 45,583 63,466 458 32,164 -
134,408
1,195,311

720,608 29,098 44,343 185,351 47,943 66,190
465 31,116
115,357
1,240,471

Excess (Deficiency) of Revenues Over (Under) Expenditures

(5,765)

67,642

(28,679)

(1,889)

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

21,448 (21,942)
458
(36)

1,218 (2,013)
377
(418)

1,993 (2,438)
126
(319)

4,041 (4,486)
621
176

Net Change in Fund Balances

$

(5,801) $

67,224 $ (28,998) $

(1,713)

Non-Capitalized Expenditures Capitalized Expenditures Total Expenditures
Debt Service as a Percentage of Non-Capitalized Expenditures

$ 997,944 102,412
$ 1,100,356

$ 989,861 58,384
$ 1,048,245

$ 1,051,784 143,527
$ 1,195,311

$ 1,119,674 120,797
$ 1,240,471

-

-

-

-

(a) General Fund assigned fund balance increased due to the sale of three District properties.
Source: District Records

126

2017
$ 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

Fiscal Year

2019 (a)

2020

$ 690,882 635,892 61,670 10,658 1,861 3,576 2,882
1,407,421

$ 724,173 710,427 54,203 7,912 1,010 3,034 3,132
1,503,891

2021
786,347 775,283 13,949
762 54
1,893 2,981 1,581,269

2022
845,174 807,775
36,586 1,944 1,791 2,990 1,757 1,698,017

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

852,123 43,607 57,279 183,696 58,285 82,368 29,450 -
217,527
1,084 1,525,419

867,170 37,698 58,419 179,505 51,594 78,392
10,818
166,566
466 1,450,628

934,500 38,526 64,881 201,398 57,775 84,724
21,965
163,046
175 1,566,990

(16,842)

35,191

5,321

(21,528)

130,641

131,027

4,908 (6,103) 4,467
3,272

7,882 (8,255)
275
(98)

3,582 (3,955) 19,567
19,194

4,310 (4,310)
314
314

9,583 (9,748)
244
79

6,251 (6,251)
330
330

$ (13,570) $

35,093 $

24,515 $ (21,214) $ 130,720 $ 131,357

$ 1,157,363 159,303
$ 1,316,666

$ 1,176,768 134,515
$ 1,311,283

$ 1,233,970 168,130
$ 1,402,100

$ 1,313,891 211,528
$ 1,525,419

$ 1,299,534 151,094
$ 1,450,628

$ 1,444,687 122,303
$ 1,566,990

-

-

-

-

-

-

127

COBB COUNTY SCHOOL DISTRICT PROPERTY TAX LEVIES AND COLLECTIONS JUNE 30, 2022
Property Taxes Collected and Balances Receivable

2016

2017

2018

2019

2020

General Fund Collections

Balance Receivable

2021

amounts in thousands
$600,000 $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0 2022

Balances as of June 30, 2022 (amounts expressed in thousands)

General Fund: Total Taxes Levied Collected Current Year Percent of Taxes Collected

2016

2017

2018

2019

2020

2021

2022

Total

$ 413,425 $ 439,272 $ 468,387 $ 411,807 437,484 466,239 99.61% 99.59% 99.54%

508,461 $ 505,912
99.50%

536,187 $ 532,737
99.36%

562,732 $ 595,290 $ 559,804 593,067
99.48% 99.63%

3,523,754 3,507,050
99.53%

Subsequent Years Collected Total Collected All Years Balance Receivable Percent of Taxes Collected

$ 1,529 $ 1,649 $ 1,633 $ 1,889 $

413,336 439,133 468,218 508,265

$

89 $ 139 $ 169 $

196 $

99.98% 99.97% 99.96%

99.96%

2,229 $ 2,044 $

-$

535,830 562,231 593,067

357 $

501 $ 2,223 $

99.93%

99.91% 99.63%

10,973 3,520,080
3,674 99.90%

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

$35,000,000

$30,000,000

$25,000,000

$20,000,000

$15,000,000

$10,000,000

$5,000,000

$0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Motor Vehicles Public Services Maint & Operations

(amounts expressed in thousands) Net M&O

For Maintenance & Operations of Schools

Fiscal Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Real Property $ 16,898,249
16,352,749 17,266,640 18,421,285 19,947,408 21,599,228 23,677,091 25,105,013 26,450,073 28,161,560

Personal Property $ 1,374,209
1,439,170 1,607,722 1,607,041 1,722,374 1,825,340 1,963,114 2,061,394 2,140,213 2,147,911

Public

Total Assessed

Services Motor Vehicle

Value

$ 838,778 $ 1,779,893 $ 20,891,129

893,003

1,716,625

20,401,547

870,412

1,365,200

21,109,974

855,371

990,609

21,874,306

853,860

718,250

23,241,892

839,298

518,534

24,782,400

869,266

393,218

26,902,689

888,756

314,519

28,369,682

930,324

253,586

29,774,196

975,747

211,623

31,496,841

Direct Estimated Rate Actual Value 1.890% $ 52,227,822 1.890% 51,003,931 1.890% 52,774,935 1.890% 54,685,822 1.890% 58,104,731 1.890% 61,956,001 1.890% 67,256,723 1.890% 70,924,205 1.890% 74,435,489 1.890% 78,742,102

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 2013

2014

2015

2016

2017

School District

2018

2019

County Government

2020

2021

2022

(all tax rates are per $1000 assessed valuation)

Fiscal Year

2013

School District Maint & Operations

18.90

Total Direct Rate

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

2020
18.90 18.90

2021
18.90 18.90

2022
18.90 18.90

County Government General Fire District Debt Service Total County Rate
State of Georgia
Total Overlapping Rate

7.72 3.06 0.33 11.11
0.20
11.31

7.52 3.06 0.33 10.91
0.15
11.06

7.32 3.06 0.33 10.71
0.10
10.81

7.12 3.06 0.33 10.51
0.05
10.56

6.66

6.76

8.46

8.46

8.46

8.46

2.96

2.96

2.86

2.86

2.86

2.86

0.23

0.13

0.13

0.13

0.13

0.13

9.85

9.85

11.45

11.45

11.45

11.45

-

-

-

-

-

-

9.85

9.85

11.45

11.45

11.45

11.45

Additional Overlapping Rates City of Acworth City of Austell City of Kennesaw City of Powder Spgs City of Smyrna

7.60

7.60

7.60

7.60

7.60

7.60

7.60

7.60

8.95

8.95

4.00

4.00

3.06

3.06

3.06

3.25

3.25

3.25

3.25

3.25

9.50

9.50

9.50

9.50

9.50

9.50

9.50

9.50

9.50

9.50

8.50

8.50

8.50

8.50

8.50

8.50

9.50

9.50

9.50

9.50

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, 2021 AND NINE YEARS AGO
Principal Property Taxpayers - 2021

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

Willwood/Townpark Owner LLC Prologis Cobb EMC AT&T/Bellsouth Walton Properties Lockheed Martin Circle 75 Venture Partners Galleria LLC/OTR Home Depot Georgia Power

Taxpayer Georgia Power Home Depot Galleria LLC/OTR Circle 75 Venture Partners Lockheed Martin Corp Walton Properties AT&T/Bellsouth Cobb EMC Prologis Wildwood/Townpark Owner LLC U K Lasalle SP4 Properties CP Venture Five, LLC CRP
Ohio Teacher Retirement Fund
TOTAL

Type of Business Utilities Retail Real Estate Utilities Aircraft Real Estate Telecommunications Utilities
Real Estate Real Estate Real Estate Real Estate Real Estate Investmnet

December 31, 2021

Percent

of Total

Taxes

Taxes

Rank Levied

Levied

1 $ 10,795,033

1.813%

2

5,277,978

0.887%

3

4,214,355

0.708%

4

2,915,195

0.490%

5

2,383,855

0.400%

6

2,274,135

0.382%

7

2,226,030

0.374%

8

2,144,499

0.360%

9

1,839,081

0.309%

10

1,751,462

0.294%

$ 35,821,623

6.017%

December 31, 2012

Percent

of Total

Taxes

Taxes

Rank Levied

Levied

1 $ 9,060,911 2.295%

2

3,603,663 0.913%

6

1,674,132 0.424%

8

1,127,066 0.285%

3

2,080,314 0.527%

10

1,061,021

4

2,060,021

7

1,136,319

9

1,061,411

5

1,840,502

$ 24,705,360

0.269% 0.522% 0.288% 0.269% 0.466%
6.258%

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, 2021 and nine years earlier, December 31, 2012 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

2013 $ 2,089,113
-

2014 $ 2,040,157
-

Fiscal Year 2015
$ 2,110,997
-

2016 $ 2,187,433
-

2017 $ 2,324,189
-

$ 2,089,113 $ 2,040,157 $ 2,110,997 $ 2,187,433 $ 2,324,189

-

-

-

-

-

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

2018 $ 2,478,240
-

2019 $ 2,690,269
-

Fiscal Year 2020
$ 2,836,968
-

2021 $ 2,977,419
-

2022 $ 3,149,684
-

$ 2,478,240 $ 2,690,269 $ 2,836,968 $ 2,977,419 $ 3,149,684

-

-

-

-

-

Source: District Records

132

COBB COUNTY SCHOOL DISTRICT LEGAL DEBT MARGIN INFORMATION FISCAL YEAR 2022
Legal Debt Information - Fiscal Year 2022
$0

$3,149,684,074

Total Amount of Debt Applicable to Debt Limit Legal Debt Margin

(amounts expressed in thousands)
Net Assessed Valuation, Cobb County School District, January 1, 2021

$

31,496,840,736

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
133

$

3,149,684,074

$

-

$

-

$

3,149,684,074

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

$100

$80

$60

$40

$20

$-

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

(amounts expressed in thousands, except per capita)

Total

General

Primary

Fiscal Obligation

Capital

Government

Year

Bonds

Leases

Debt

2013

-

-

- $

2014

-

-

-

2015

-

-

-

2016

-

-

-

2017

-

-

-

2018

-

-

-

2019

-

-

-

2020

-

-

-

2021

-

-

-

2022

-

-

-

Annual Personal Income
33,662,185 34,419,921 36,192,750 36,400,450 38,385,767 40,281,455 43,263,716 44,995,411 48,229,082 51,847,811

Population
649,141 658,101 670,967 682,267 687,209 694,706 696,059 699,274 705,177 705,305

Debt as a Percentage of Personal
Income
-

Total

Debt

Per Capita

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

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 705,305 provided by the US Census Bureau (population estimate July 1, 2021); 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

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% 2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

Fiscal Year
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Population
649,141 $ 658,101 670,967 682,267 687,209 694,706 696,059 699,274 705,177 705,305

Estimated Actual Value
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 70,924,204,555 74,435,488,855 78,742,101,840

Gross Bonded Debt
-

Restricted for Bonded
Debt
-

Note: Population provided by US Census Bureau (2021 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, 2022
Direct and Overlapping Debt Per Capita
$0

$7

Direct: Cobb County Schools

Indirect: Cobb County Government

Direct General Obligation Debt: Gross Bonded Debt

$

-$

-

Overlapping General Obligation Debt: Cobb County Government (99.9% of $4,650,000)
Total Direct and Overlapping General Obligation Debt
Debt Per Capita:* Direct General Obligation Debt Overlapping General Obligation Debt Total

$ 4,645,350 $ $
$ $

4,645,350 4,645,350
7 7

*Population of 705,177 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

800,000 750,000

COBB COUNTY POPULATION GROWTH

700,000 650,000

600,000 550,000

500,000 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Calendar Year
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Population

Personal Income (In Thousands)

707,277 $ 33,662,185

717,190

34,419,921

730,981

36,192,750

741,334

36,400,450

748,150

38,385,767

755,754

40,281,455

756,865

43,263,716

760,141

44,995,411

766,149

48,229,082

766,802

51,847,811

Per Capita Personal Income
$ 47,594 47,993 49,513 49,101 51,308 53,300 57,162 59,194 63,214 67,616

Median Household
Income
$ 65,423 66,300 68,656 70,246 70,947 75,654 78,894 79,601 NA (b)
88,029

Median Age
35.4 36.1 36.2 36.3 36.5 36.6 36.7 37.3 NA(b) 37.7

Active Student Enrollment(a)
107,914 109,529 111,060 111,848 112,412 111,482 111,386 111,760 106,983 106,601

Unemployment Rate
8.0% 7.1% 6.0% 5.0% 4.6% 4.4% 3.7% 3.0% 5.9% 3.3%

Notes: (a)Student Enrollment is based on the data for the end of the school year which is subsequent to the calendar year end. (b)For 2020 data is only recorded at the state level
Sources: Population (includes city of Marietta),provided by the US Census Bureau (population census estimates as of July 1, 2021). 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 - 2021

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

Six Flags Over Georgia Cobb County School District Kroger Brand Energy & Infrastructure Services Publix Super Markets Kennesaw State University Lockheed Martin Cobb County Government Home Depot Wellstar Health System

Employer Wellstar Health System Cobb County School District Home Depot Cobb County Government Lockheed Martin Kennesaw State University Publix Super Markets Brand Energy & Infrastructure Services Kroger Co. Six Flags Over Georgia Dobbins Air Force Base Walmart
Total

Rank 1 2 3 4 5 6 7 8 9 10 -

2021
Employees 13,500 13,484 13,000 5,292 5,000 4,800 3,600 2,801 2,500 1,900 -
65,877

Percentage of Total County
Employment 3.76% 3.76% 3.62% 1.47% 1.39% 1.34% 1.00% 0.78% 0.70% 0.53%
-
18.35%

Rank 3 2 1 6 4 5 7
9
8 10

2012
Employees 12,746 14,107 20,000 4,210 6,900 4,404 2,988 2,383

Percentage of Total County
Employment 3.64% 3.64% 5.71% 1.20% 1.97% 1.26% 0.85% 0.00% 0.68%

2,547 2,258
72,543

0.73% 0.64%
20.32%

Information is available by calendar year; therefore, data reported is for years ended December 31, 2021, and nine years earlier, December 31, 2012. Principal Employers within the county provided by 2021 and 2012 Cobb County Government Comprehensive Annual Financial Reports.
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, 2022

METRO ATLANTA SCHOOL DISTRICT TAX RATES
25.000

20.000

15.000

10.000

5.000

0.000

Atlanta Clayton Cobb City County County

Dekalb Douglas Fulton Gwinnett Marietta Rockdale County County County County City County

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 23.080 20.050 17.590 21.350 17.970 22.717

Source: Georgia Department of Revenue

Maintenance & Operations
20.740 20.000 18.900 23.080 19.550 17.590 19.700 17.970 22.717

139

Debt Service 0.000 0.000 0.000 0.000 0.500 0.000 1.650 0.000 0.000

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

dollars in millions
$1,400

Cobb County New Construction

$1,200

$1,000

$800

$600

$400

$200

$0 2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

(dollars expressed in millions)

Calendar Year Ended
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Bank Deposits (a)
$ 10,269 10,933 11,936 13,769 13,797 15,216 15,633 18,247 23,666 27,035

Single-Family

Residences (b)

Number

Market

of Units

Value

734 $ 204

1,077

316

938

277

923

314

939

311

943

290

982

297

875

257

891

268

909

291

Total New

Construction (b)

Number

Market

of Permits

Value

5,667 6,320 7,352 5,596 5,725 9,825 10,758 10,915 11,537 12,271

$ 581 711 596
1,078 1,371
994 976 1,355 769 916

Estimated Actual Value of Taxable Property (c)
$ 52,227 51,004 52,775 54,686 58,105 61,956 67,257 70,924 74,435 78,742

(a) Bank deposits are supplied by the Federal Deposit Insurance Corporation (FDIC).
(b) New residence and construction data for the 12-month period ended December 31 is supplied by the Cobb County Community Development Agency and is on a calendar-year basis.
(c) Source: Cobb County Tax Commissioner.

140

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

amounts in thousands
$45,000,000

Digest Reductions Compared to Gross Property Digest

$40,000,000

$35,000,000

$30,000,000

$25,000,000

$20,000,000

$15,000,000

$10,000,000

$5,000,000

$0 2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

Gross Property Digest
Personal Property Exemption
Elderly Exemption
Homestead Exemption

(amounts expressed in thousands)

Fiscal Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Disabled

Personal

Total

Homestead

Elderly

Residents

Property

Conservation

Digest

Exemption

Exemption

Exemption

Exemption

Exemption

Reductions

$ 1,041,831 $ 3,299,172 $ 15,660 $ 1,175,141 $ 52,676 $ 5,584,480 $

999,067

3,420,226

16,281

1,196,382

53,574

5,685,530

965,937

3,755,620

18,132

1,068,067

53,146

5,860,902

935,568

4,177,064

21,587

1,249,680

54,339

6,438,238

918,620

4,764,134

26,027

1,330,396

59,702

7,098,879

903,943

5,350,772

31,221

793,748

66,325

7,146,009

889,782

5,921,610

40,762

704,910

72,640

7,729,704

882,981

6,493,656

49,265

769,184

75,071

8,270,157

871,131

6,993,577

61,512

761,257

79,256

8,766,733

874,301

7,643,479

83,901

779,911

89,526

9,471,118

Gross Property Digest
26,475,609 26,087,102 26,970,876 28,312,566 30,340,771 31,928,409 34,632,393 36,639,839 38,540,928 40,967,959

Reductions as Percent of Gross
Digest 21.09% 21.79% 21.73% 22.74% 23.40% 22.38% 22.32% 22.57% 22.75% 23.12%

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 2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

Fiscal Year
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Professional Personnel (a)
8,008 7,907 8,036 8,050 8,099 8,092 8,141 8,217 8,224 8,284

Other Operating Personnel (b)
2,896 2,821 2,769 2,943 2,953 2,587 2,604 2,932 2,888 2,872

Service Personnel (c)
2,813 2,834 2,949 2,599 2,613 2,927 2,895 2,632 2,417 2,328

Total Personnel
13,717 13,562 13,754 13,592 13,665 13,606 13,640 13,781 13,529 13,484

Active Student Enrollment
107,914 109,529 111,060 111,848 112,412 111,482 111,386 111,760 106,983 106,601

Ratio of Pupils to Professional Personnel
13.5 13.9 13.8 13.9 13.9 13.8 13.7 13.6 13.0 12.9

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

142

COBB COUNTY SCHOOL DISTRICT OPERATING STATISTICS LAST TEN FISCAL YEARS

Cost Per Pupil Enrolled

$13,500 $13,000 $12,500 $12,000 $11,500 $11,000 $10,500 $10,000
$9,500 $9,000 $8,500
2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

Fiscal Year

Expenses

Active
Student Enrollment

Cost
Per Pupil Enrolled

Percentage
of Change

Professional Personnel

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

$ 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 1,465,479,000 1,531,381,000 1,398,684,000

107,914 109,529 111,060 111,848 112,412 111,482 111,386 111,760 106,983 106,601

$ 9,901 9,631 9,803
10,385 11,373 11,696 11,566 13,113 14,314 13,121

1.83% -2.73% 1.79% 5.94% 9.52% 2.84% -1.11% 13.37% 9.16% -8.34%

8,008 7,907 8,036 8,050 8,099 8,092 8,141 8,217 8,224 8,284

Ratio of Pupils to Professional Personnel
13.5 13.9 13.8 13.9 13.9 13.8 13.7 13.6 13.0 12.9

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

143

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

amounts in thousands $1,300,000

Expenditures by School Function

$1,200,000

$1,100,000

$1,000,000

$900,000

$800,000

$700,000

$600,000

$500,000

$400,000

$300,000

$200,000 2013 2014 2015 2016 2017 2018 2019

Other

Capital Outlay

Business Serv.

School & Admin.

2020 2021 Pupil Services

2022 Instruction

(amounts expressed in thousands)

Fiscal

Pupil

Year Instruction Services

School & Administrative
Services

Business Services

2013 $ 632,579 $ 17,502 $ 77,821 $ 100,191

2014 2015 2016 2017 2018

628,652 679,320 719,560 742,169 754,822

19,489 19,248 25,478 24,385 27,891

78,407 84,588 103,673 106,625 113,283

103,311 106,063 110,845 114,446 118,690

2019 2020 2021 2022

802,325 862,210 773,364 911,194

27,645 36,978 32,845 32,350

112,484 117,988 117,781 125,855

124,249 136,059 124,144 134,239

Capital Outlay Other

$ 6,659 $ -

4,346 1,489

3,769

458

2,546

465

1,510

-

3,119

-

6,474

-

14

-

4,926

-

8,834

-

Total
$ 834,752 835,694 893,446 962,567 989,135
1,017,805 1,073,177 1,153,249 1,053,060 1,212,472

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

$1,300,000

$1,200,000

$1,100,000

$1,000,000

$900,000

$800,000

$700,000

$600,000

$500,000

$400,000 $300,000 $200,000 $100,000

Other Interest Intergovernmental Local Taxes

$0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

(amounts expressed in thousands)

Fiscal Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Local Taxes $ 397,592
405,970 421,814 443,641 475,835 502,801 546,113 580,813 620,701 654,791

Intergovernmental

$

415,168

431,907

459,181

490,747

519,721

543,085

545,342

603,286

564,352

592,212

Interest Income

$

1,562

1,637

1,294

1,189

1,662

3,352

6,473

5,298

651

1,456

Other $ 2,406
4,991 2,935 1,751 2,188 3,801 4,161 3,346 1,519 2,836

Total $ 816,728
844,505 885,224 937,328 999,406 1,053,039 1,102,089 1,192,743 1,187,223 1,251,295

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
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Debt Service Fund Expenditures
-

Source: District Records

General Fund Expenditures $ 834,752,000
835,694,000 893,446,000 962,567,000 989,135,000 1,017,805,000 1,073,177,000 1,153,249,000 1,053,060,000 1,212,472,000
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% 1950 1957 1961 1962 1964 1969 1973 1977 1979 1981 1985 1987 1989 1991 1995 1997 1998 2003 2008 2013 2017 2021

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

2021 894,891,000

Maturity 1970 1977 1980 1983 1994 1990 1994 1996 1997 1997 1997 2001 2002 2004 2007 2002 2003 2008 2013 2018 2023 2028

Action Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Passed Failed Passed 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 35,466

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 13,723

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 49,189

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% 72.10%

Note: 1997, 1998, 2003, 2008, 2013, 2017 and 2021 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. 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

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

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
68,409 562 356
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
68,409 562 348
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
68,409 562 358
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

131,924 925 639
81,334 662 635
56,904 562 369
85,326 562 469
106,694 1,025 871
83,098 737 751
68,409 562 355
84,461 837 520
105,886 925 777
111,299 837 743
49,828 412 -
-
168,576 1,162 962
116,071 962 977
136,261 987 838
124,148 975 686

131,924 925 570
81,334 662 598
56,904 562 345
85,326 562 421
106,694 1,025 792
83,098 712 742
68,409 562 334
84,461 837 525
105,886 925 710
111,299 837 652
49,828 412 -
-
168,576 1,162 903
116,071 962 886
136,261 987 756
124,148 975 653

131,924 925 550
81,334 662 622
56,904 562 302
85,326 562 406
106,694 1,025 784
83,098 737 730
68,409 562 309
84,461 837 515
105,886 925 662
111,299 837 627
49,828 412 -
-
168,576 1,162 948
116,071 962 854
136,261 987 780
124,148 975 659

148

COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS

School Name

2013

Cheatham Hill (1997)

Square Feet

137,108

Capacity

1,063

Enrollment

1,149

City View (f)(Riverside Intermediate)

Square Feet

123,000

Capacity

962

Enrollment

1,107

Clarkdale Replacement (2012)

Square Feet

129,988

Capacity

862

Enrollment

587

Clay (1961)

Square Feet

55,412

Capacity

437

Enrollment

351

Clay-Harmony Leland (2021)

Square Feet

-

Capacity

-

Enrollment

-

Compton (1969)

Square Feet

99,427

Capacity

937

Enrollment

556

Davis (1987)

Square Feet

86,131

Capacity

788

Enrollment

559

Dowell (1989)

Square Feet

106,003

Capacity

963

Enrollment

968

Due West (1957)

Square Feet

70,367

Capacity

587

Enrollment

547

East Side Replacement (2011)

Square Feet

149,764

Capacity

1,087

Enrollment

1,221

Eastvalley (1960)

Square Feet

60,029

Capacity

562

Enrollment

661

Fair Oaks (1957)

Square Feet

97,993

Capacity

863

Enrollment

831

Ford (1991)

Square Feet

91,129

Capacity

862

Enrollment

713

Frey (1996)

Square Feet

125,717

Capacity

963

Enrollment

737

Garrison Mill (1984)

Square Feet

85,775

Capacity

688

Enrollment

716

2014

2015

2016

2017

2018

2019

2020

2021

2022

137,108 1,063 1,112
123,000 962
1,101
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

137,108 1,063 1,094
123,000 962
1,182
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

137,108 1,063 1,110
123,000 962
1,220
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

137,108 1,063 1,131
123,000 962
1,221
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

137,108 1,063 1,116
123,000 962
1,147
129,988 863 813
55,412 437 391
-
88,079 788 546
86,131 788 573
106,003 963 980
70,367 587 617
149,764 1,087 1,288
60,029 562 727
97,993 863 894
91,129 862 838
125,717 963 805
85,775 688 698

137,108 1,063 1,087
123,000 962
1,109
129,988 863 811
55,412 437 406
-
88,079 788 497
86,131 788 608
106,003 963 992
70,367 587 576
149,764 1,087 1,256
60,029 562 709
97,993 863 841
91,129 862 842
125,717 963 830
85,775 688 699

137,108 1,063 1,110
123,000 962
1,049
129,988 887 792
55,412 450 387
-
88,079 800 526
86,131 800 602
106,003 975 980
70,367 600 588
149,764 1,087 1,226
60,029 562 800
97,993 875 820
91,129 862 890
125,717 975 852
85,775 700 700

137,108 1,063 1,028

137,108 1,063 1,022

123,000 962 923

123,000 962 848

129,988 887 745

129,988 887 688

55,412 450 -

55,412 450 -

186,930 1,212 952

186,930 1,250 926

88,079 800 538

88,079 800 564

86,131 800 576

86,131 800 614

106,003 975 889

106,003 975 860

70,367 600 570

70,367 600 603

149,764 1,087 1,159

149,764 1,087 1,157

60,029 562 700

60,029 562 687

97,993 875 761

97,993 875 770

91,129 862 798

91,129 862 781

125,717 975 734

125,717 975 757

85,775

85,775

700

700

646

674

continued-

149

COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS

School Name
Green Acres (1996) Square Feet Capacity Enrollment
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
King Springs Replacement (2021) Square Feet Capacity Enrollment
LaBelle (1955) Square Feet Capacity Enrollment
Lewis (1986) Square Feet Capacity Enrollment
Mableton (2012) Square Feet Capacity Enrollment
McCall Primary (2005) Square Feet Capacity Enrollment

2013
90,915 688 866
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

2014

2015

2016

2017

2018

2019

2020

2021

2022

90,915 688 767
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

90,915 688 732
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

90,915 688 737
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

90,915 688 706
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

90,915 688 704
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

90,915 688 628
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

90,915 700 603
65,127 512 605
119,189 962 958
123,025 962 590
89,012 862 593
70,537 600 479
123,000 962 955
116,400 975 654
83,969 762 672
59,658 587
1,083
-
82,912 700 432
115,363 962 568
148,523 962
1,045
88,158 512 346

90,915 700 592
65,127 512 -
119,189 962 893
123,025 962 555
89,012 862 571
70,537 600 400
123,000 962 888
116,400 975 619
83,969 762 605
-
162,621 1,237 1,066
82,912 700 354
115,363 962 557
148,523 962 994
88,158 512 311

90,915 700 592
65,127 512 -
119,189 962 828
123,025 962 483
89,012 862 556
70,537 600 414
123,000 962 898
116,400 975 584
83,969 762 577
-
154,696 1,050 1,034
82,912 700 357
115,363 962 535
148,523 962 915
88,158 512 272

150

COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS

School Name
Milford (1954) Square Feet Capacity Enrollment
Mount Bethel (1978) Square Feet Capacity Enrollment
Mountain View (1986) Square Feet Capacity Enrollment
Murdock (1975) Square Feet Capacity Enrollment
Nicholson (1990) Square Feet Capacity Enrollment
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
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

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

73,352 612 559
110,096 937 984
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
71,408 612 614
103,369 962 728
116,302 862 829
99,735 888 828

73,352 612 466
110,096 937
1,011
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
71,408 612 602
104,362 962 704
116,302 862 809
99,735 888 815

73,352 612 458
110,096 937
1,040
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
72,896 612 622
104,362 962 697
116,302 862 827
99,735 888 845

73,352 612 467
110,096 937
1,119
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
72,896 612 613
104,362 962 699
116,302 862 774
99,735 888 866

73,352 612 461
110,096 937
1,132
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
72,896 612 584
104,362 962 688
116,302 862 747
99,735 912 868

73,352 612 424
110,096 937
1,118
144,362 962 772
123,233 962
1,012
75,800 637 534
122,342 937
1,104
87,935 837 901
139,090 987 764
136,261 962 913
101,870 888 777
59,190 462 482
85,236 562 534
72,896 612 610
104,362 962 666
116,302 862 732
99,735 912 850

73,352 612 374
110,096 937
1,122
144,362 962 848
123,233 962 973
75,800 637 520
122,342 937
1,151
87,935 837 870
139,090 987 751
136,261 962 876
101,870 888 770
59,190 462 464
85,236 562 551
72,896 612 595
104,362 962 648
116,302 862 727
99,735 912 755

73,352 637 356
110,096 937
1,100
144,362 962 857
123,233 962
1,002
75,800 637 492
122,342 937
1,186
87,935 837 827
139,090 987 755
136,261 962 877
101,870 900 801
59,190 462 414
85,236 562 537
72,896 612 614
104,362 962 638
116,302 862 693
99,735 912 739

73,352 637 372

73,352 637 351

110,096 937 983

110,096 937 996

144,362 962 781

144,362 962 772

123,233 962 932

123,233 962 955

75,800 637 441

75,800 637 413

122,342 937
1,126

122,342 937
1,116

87,935 837 751

87,935 837 701

139,090 987 679

139,090 987 689

136,261 962 766

136,261 962 767

101,870 900 791

101,870 900 789

59,190 462 402

59,190 462 402

85,236 562 551

85,236 562 521

72,896 612 547

72,896 612 569

104,362 962 573

104,362 962 552

116,302 862 693

116,302 862 633

99,735

99,735

912

912

652

619

continued-

151

COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS

School Name
Shallowford Falls (1990) 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

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

112,620 962 658
-
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

112,620 962 654
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

112,620 962 669
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

112,620 962 640
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

112,620 962 663
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

112,620 962 713
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

112,620 962 728
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

112,620 962 684
143,107 962
1,028
133,344 1,162 1,178
117,539 975 769
108,100 837 952
73,450 612 575
109,769 937 920
109,827 975 876
122,260 937 735
156,660 1,037 729
178,465 1,162 894
220,228 1,437 1,619
170,905 1,162 1,122
177,356 1,175 1,017
166,048 1,187 1,305

112,620 962 592
143,107 962 942
133,344 1,162 1,020
117,539 975 744
108,100 837 923
73,450 612 495
109,769 937 826
109,827 975 818
122,260 937 652
156,660 1,037 701
178,465 1,162 915
220,228 1,437 1,619
170,905 1,162 1,066
177,356 1,175 979
166,048 1,187 1,273

112,620 962 615
143,107 962 914
133,344 1,162 1,061
117,539 975 747
108,100 837 935
73,450 612 489
109,769 937 817
109,827 975 746
122,260 937 647
156,660 1,037 649
178,465 1,162 864
220,228 1,437 1,191
170,905 1,162 1,055
177,356 1,175 930
166,048 1,187 1,200

152

COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS

School Name
Dodgen (1975) Square Feet Capacity Enrollment
Durham (1998) Square Feet Capacity Enrollment
East Cobb (1963) Square Feet Capacity Enrollment
Floyd (1964) Square Feet Capacity Enrollment
Garrett (1972) Square Feet Capacity Enrollment
Griffin (1972) Square Feet Capacity Enrollment
Hightower Trail (1993) Square Feet Capacity Enrollment
Lindley 6th Grade Academy (1962) Square Feet Capacity Enrollment
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
Pearson (2021) Square Feet Capacity Enrollment
Pine Mountain (1979) Square Feet Capacity Enrollment

2013
183,798 1,212 1,185
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

2014
183,798 1,212 1,157
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

2015
183,798 1,212 1,227
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

2016
183,798 1,212 1,249
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

2017
183,798 1,212 1,268
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

2018
183,798 1,212 1,242
173,487 1,162 1,039
186,961 1,362 1,284
166,551 1,112 930
152,212 963 876
186,947 1,162 1,379
149,038 1,012 1,074
111,260 788 584
179,170 1,162 1,022
165,107 1,137 1,090
175,345 1,162 1,368
165,479 1,162 930
149,577 937 672
191,209 1,162 1,217
175,974 1,162 923
-
169,809 912 625

2019
183,798 1,212 1,261
173,487 1,162 1,101
222,963 1,387 1,392
166,551 1,112 968
152,212 963 895
186,947 1,162 1,415
149,038 1,012 1,063
111,260 788 620
179,170 1,162 1,112
165,107 1,137 1,051
175,345 1,162 1,401
165,479 1,162 938
149,577 937 692
191,209 1,162 1,111
175,974 1,162 888
-
169,809 912 696

2020
183,798 1,187 1,294
173,487 1,162 1,104
222,963 1,387 1,495
166,551 1,112 974
152,212 975 963
186,947 1,137 1,465
149,038 1,012 1,070
111,260 700 629
179,170 1,162 1,180
165,107 1,137 1,066
175,345 1,162 1,352
165,479 1,162 956
149,577 937 696
191,209 1,162 1,070
175,974 1,162 905
-
169,809 900 694

2021

2022

183,798 1,187 1,235

183,798 1,187 1,210

173,487 1,162 1,076

173,487 1,162 999

222,963 1,387 1,444

222,963 1,387 1,323

166,551 1,112 972

166,551 1,112 881

152,212 975
1,004

152,212 975 936

186,947 1,137 1,466

186,947 1,137 954

149,038 1,012 1,034

149,038 1,012 1,025

111,260 700 596

111,260 700 534

179,170 1,162 1,207

179,170 1,162 1,154

165,107 1,137 1,028

165,107 1,137 991

175,345 1,162 1,334

175,345 1,162 1,287

165,479 1,162 919

165,479 1,162 881

149,577 937 682

149,577 937 609

191,209 1,162 1,034

191,209 1,162 1,010

175,974 1,162 862

175,974 1,162 835

- 176,646

-

1,012

-

853

169,809 169,809

900

900

670

610

continued-

153

COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS

School Name
Simpson (1988) Square Feet Capacity Enrollment
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
Cobb Horizon(2021) 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

2013
138,902 962 876
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

2014
143,888 962 895
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

2015
143,888 962 913
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

2016
143,888 962 935
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

2017
143,888 962 960
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

2018
143,888 962 944
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

2019
143,888 962 912
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

2020
143,888 962 898
169,345 1,137 1,050
157,435 1,137 924
330,289 1,937 1,784
376,451 2,562 2,820
93,858 462 334
-
444,830 2,587 2,314
319,000 1,987 2,317
321,068 2,025 1,451
319,000 1,987 1,824
376,835 2,087 2,051
504,107 2,450 2,345
485,833 2,862 2,769
220,696 2,062 2,102
264,915 1,537 2,313

2021
143,888 962 905
169,345 1,137 980
157,435 1,137 913
330,289 1,937 1,780
370,227 2,562 2,816
-
94,627 362 336
444,830 2,587 2,211
319,000 1,987 2,233
321,068 2,025 1,406
319,000 1,987 1,754
376,835 2,087 1,959
504,107 2,450 2,302
485,833 2,862 2,634
469,966 2,062 2,222
264,915 1,537 2,216

2022
143,888 962 870
169,345 1,137 928
157,435 1,137 871
330,289 1,937 1,701
497,352 3,303 2,698
-
94,627 337 252
444,830 2,587 2,200
319,000 1,937 2,293
321,068 2,025 1,399
319,000 1,987 1,799
376,835 2,087 1,920
504,107 2,450 2,240
485,833 2,862 2,514
466,189 2,312 2,443
264,915 1,537 2,279

154

COBB COUNTY SCHOOL DISTRICT SCHOOL BUILDINGS LAST TEN FISCAL YEARS

School Name

2013

2014

Pope (1987)

Square Feet

260,606 260,606

Capacity

1,912

1,912

Enrollment

1,725

1,787

South Cobb (1951)

Square Feet

388,425 388,425

Capacity

2,612

2,612

Enrollment

1,898

1,911

Sprayberry (1973)

Square Feet

297,400 297,400

Capacity

2,062

2,062

Enrollment

1,741

1,700

Walton (1975)

Square Feet

307,655 307,655

Capacity

2,312

2,312

Enrollment

2,574

2,639

Wheeler (1964)

Square Feet

318,504 361,490

Capacity

1,837

2,162

Enrollment

1,948

2,049

Performance Learning Center (located at Oakwood)(e)

Enrollment

59

70

Hawthorne (Haven) (1958) (c)

Square Feet

32,500

32,500

Capacity

312

312

Enrollment

77

69

Fitzhugh Lee (Haven) (1935)(c)

Square Feet

35,684

35,684

Capacity

312

312

Enrollment

39

33

Kennesaw Charter (d)

Enrollment

782

871

Mableton Charter (d)

Enrollment

-

-

International Academy of Smyrna (d)

Enrollment

943

944

Devereux Georgia (d)

Enrollment

75

87

Sky View (1957) (b) (Haven - 2016)

Square Feet

-

-

Capacity

-

-

Enrollment

-

-

South Cobb Early Learning

Square Feet

-

-

Capacity

-

-

Enrollment

-

-

2015
260,606 1,912 1,868
388,425 2,612 1,954
297,400 2,062 1,701
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
260,606 1,912 1,919
388,425 2,612 1,906
297,400 2,062 1,703
307,655 2,312 2,616
440,214 2,187 2,075
148
-
-
838
-
1,033
78
50,270 462 119
-

2017
260,606 1,912 1,990
388,425 2,612 1,899
297,400 2,062 1,610
307,655 2,312 2,615
434,631 2,187 2,076
147
-
-
778
-
993
86
50,270 462 102
-

2018
336,955 1,912 1,957
388,425 2,612 1,796
297,400 2,062 1,643
373,256 2,312 2,603
434,631 2,187 2,063
122
-
-
558
-
-
89
50,270 462 86
-

2019
336,955 1,912 1,915
420,443 2,638 1,891
297,400 2,062 1,698
342,656 2,312 2,643
434,631 2,187 2,125
-
-
-
464
-
-
79
50,270 462 66
-

2020
336,955 1,912 1,921
420,443 2,612 1,919
297,400 2,087 1,728
466,505 2,837 2,614
434,631 2,187 2,153
-
-
-
287
-
-
66
50,270 462 75
-

2021

2022

336,955 1,912 1,830

336,955 1,912 1,803

420,443 2,612 1,903

420,443 2,612 1,876

297,400 2,087 1,766

297,400 2,087 1,814

466,505 2,837 2,674

466,505 2,837 2,651

434,631 2,187 2,220

434,631 2,187 2,249

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

46

50

50,270 462 64

50,270 462 65

65,127 512 334

65,127 512 393

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. (f) City View orginally Riverside Intermediate. Name changed in 2021. 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. Source: District Records

155

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

$120,000

Teachers' Salary Range

$100,000

$80,000

$60,000

$40,000

$20,000
$0 2013

2014

2015

2016

2017

2018

2019

2020

Minimum Maximum Cobb Average

2021

2022

Fiscal Year
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Minimum

$

38,958

38,958

39,347

41,330 42,364 42,364 43,465 46,942 46,942 48,820

Maximum

$

82,088

82,088

82,908

87,087 89,264 89,264 91,585 98,912 98,912 102,868

Cobb Average

$

54,323

54,435

55,773

58,425 60,185 60,309 62,066 67,545 67,618 82,698

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

$

52,956

52,973

53,424

54,215 55,530 56,333 57,066 60,552 60,543 62,185

156

COBB COUNTY SCHOOL DISTRICT ADMINISTRATIVE SALARY SCHEDULE JUNE 30, 2022

$425,000 $400,000 $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 $ 393,120
161,289 109,274 117,452 103,334 128,766 114,232 110,808

Maximum $ 393,120
178,863 149,812 136,453 134,947 151,605 142,256 138,829

157

COBB COUNTY SCHOOL DISTRICT SCHEDULE OF INSURANCE IN FORCE JUNE 30, 2022

Type of Coverage Automobile Physical Damage Bus, Truck, Motor Vehicles Liability Property Theft Employee's Blanket Bond General Liability Property Boiler (Includes Insurance) Student Athletic Student Liability (Nursing Program) Superintendent's Bond Principal's Bond
Worker's Compensation
Excess Worker's
Compensation Parking Lot GL Policy
Excess Flood Garrett Middle School Drone Insurance
Disability, Long-Term
Disability, Short-Term
STD Plan Option 1

Name of Company and Policy Number Hudson Insurance PEA000527801 Self Insured
Self Insured Berkley Crime BGOV4500236625 Self Insured Travelers
KTJ-CMB-1G46706-9-21
T.W. Lord & Associates Liberty Insurance AHV103741003 Old Republic Surety Co. APO2121620 Old Republic Surety Co. APS1177822 Self Insured Star Insurance WCE-0937879 Atain Speciality BWPF0070271 Lloyd's of London DEF11670005306 Old Republic Surety Co. AVC00410305 The Hartford 402273 The Hartford 402273

STD Plan Option 2

STD Plan Option 3

STD Plan Option 4

Life Insurance and AD&D

The Hartford 402273

Policy Period

From

To

07/1/2021 07/1/2022

Liability Limits

Annual Premium $75,193

6/1/1994 Ongoing $300,000

N/A

6/1/1994 Ongoing N/A 8/1/2021 8/1/2022 $7,500,000

N/A $24,722

6/1/1994 Ongoing $500,000 7/1/2021 7/1/2022 $500,000,000

N/A $923,588

8/1/2021 8/1/2022 Varies 2/1/2022 2/01/2023 $1,000,000

Student/Parent Funded $1,565

5/1/2022 5/1/2023 $100,000

$350

8/1/2021 8/1/2022 $10,000

$3,990

N/A

N/A Statutory

10/1/2021 10/1/2022 $1,000,000

N/A $234,142

11/30/2021 11/30/2022 $2,000,000

$1,901

07/01/2021 07/01/2022 $15,453,434

$15,453

01/18/2022 1/18/2023 $1,000,000

$1,400

1/1/2022 12/31/2022 Benefit Schedule per salary
1/1/2022 12/31/2022

$1,122,379 Salary Based

14 Day Elimination Period. 66.67% of standard income up to $1,500 per week.

Employee pays $.230 per $10 of weekly benefit.

1/1/2022

60 Day Elimination Period. 66.67% of standard weekly income, up to $1,500 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. 12/31/2022

Employee pays $.132 per $10 of weekley benefit.
Employee pays $.231 per $10 of weekly benefit.
Employee pays $.145 per $10 of weekly benefit.
The first $15,000 is paid by CCSD. (smokers and non-smokers) Employee can add $.135 per $1000.00

158

COBB COUNTY SCHOOL DISTRICT
SCHEDULE OF INSURANCE IN FORCE
JUNE 30, 2022

Type of Coverage Dependent Life

Name of Company and Policy Number The Hartford 402273

Optional Life and AD&D
Dental Insurance Plus Option

The Hartford 402273
MetLife Dental 158287

Base Option

Critical Illness with Cancer Insurance

Voya 70174-2

Vision Insurance Plus Plan

MetLife Vision 158288

Base Plan

Legal Insurance Accident Insurance

ARAG Group 17840
Voya 70174-2

Hospital Indemnity

Voya 70174-2

Source: District Records

Policy Period

From

To

Liability Limits

1/1/2022 12/31/2022 Coverage options: Child

$10,000 or $25,000

Spouse up to $50,000

Annual Premium Employee pays $1.74 for $10,000 of coverage of child(ren) or $4.36 for $25,000 of coverage; Spousal coverage rate depends on the age of the spouse.

1/1/2022 12/31/2022 Employee can choose up to Employee pays $0.152 per $1,000 of

7 times his/her annual

Supplemental Life coverage monthly.

earnings. (Max. $500,000)

1/1/2022 12/31/2022 Plus Plan provides preferred Employee pays $40.56 for single

rates with a maximum

coverage, $75.86 for employee plus

coverage of $1,000 per

one, or $123.72 for family coverage

participant per calendar monthly. 1/1/2022 12/31/2022 Base Plan has co-pays for Employee pays $17.00 for single

Preventative and Diagnostic coverage, $32.00 for employee plus

services with a maximum of one, or $55.00 for family coverage

$750 coverage per

monthly.

participant per calendar

year. 1/1/2022 12/31/2022 Based on Benefit Schedule Cost is determied based on age and

amount of coverage elected by

employee.

Based on Benefit Schedule 1/1/2022 12/31/2022
1/1/2022 12/31/2022 1/1/2022 12/31/2022 Based on Benefit Schedule 1/1/2022 12/31/2022 Based on Benefit Schedule 1/1/2022 12/31/2022 Based on Benefit Schedule

Employee pays rates monthly depending on chosen plan. Single coverage is $8.30; coverage for employee plus one family member is $15.48, and family coverage is $23.00 each month. Single coverage is $6.86; coverage for employee plus one family member is $12.82, and family coverage is $19.06 each month. Employee pays $13.52 for single coverage or $16.88 for family Coverage monthly. Employee pays monthly premium of $7.58 self, $12.58 self and spouse, $14.84 self and children, or $19.84 family. Employee pays monthly premium of $9.54 self, $22.62 self and spouse, $14.60 self and children, or $27.70 family.

Concluded.

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 2013

2014

2015

2016

2017 Lunch

2018 Breakfast

2019

2020

2021(a)

2022(b)

(amounts expressed in thousands)

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

2013

2014

2015

2016

2017

2018

2019

2020 2021(a) 2022(b)

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

4,153 695
3,423 8,271
62
$2.35-$2.60

6,129 13 16
6,158 36
$2.50-$2.75

11,260 0 6
11,266 64
$2.75-$3.00

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

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

1,988 242 460
2,690 20
$1.50

3,713 13 16
3,742 22
$1.75

4,590 0 3
4,593 26
$1.75

Total Meals Served: Free Reduced Paid
Total Daily Average

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 1,158 4,761
14,891 83

8,096 1,159 4,762
13,823 80

7,886 1,109 4,618
13,890 78

6,141 937
3,883
10,961 82

9,841 26 32
9,900 58

15,850 0 9
15,859 90

(a) Due to the pandemic, USDA made all student meals free for the majority of the 2021 school year. (b) Due to the pandemic, USDA made all student meals free for the 2022 school year and the majority of the summer learning recovery program.
Source: District Records

160

COBB COUNTY SCHOOL DISTRICT NUMBER OF SCHOOLS LAST TEN FISCAL YEARS

Number of Schools
120

110

100

90

80

70

60

50

40

30

20

10

0 2013

2014

2015

2016 2017 2018 2019 Elementary Middle High

2020

2021

2022

Fiscal Year

Elementary

Middle

High

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

16

2020

67

25

17

2021

66

25

17

2022

66

26

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.

In 2022, Pearson Middle School opened for instruction.

161

Total 108 108 108 108 108 108 108 109 108 109

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 2013 2014 2015 2016 2017 2018 2019 2020 2021* 2022*

Average Daily
Enrollment 108,240 109,752 111,264 112,308 112,821 111,723 111,527 111,593 106,994 106,867

Average Daily
Attendance 103,857 105,548 106,895 107,872 108,150 106,863 106,876 107,899 102,586 100,455

Attendance Percentage
96% 96% 96% 96% 96% 96% 96% 97% 96% 94%

Number of Graduates
7,425 7,313 7,366 7,714 7,970 8,126 8,261 8,379 8,084 8,278

Graduate Percentage
76.50% 78.20% 81.45% 83.80% 83.60% 85.20% 87.00% 88.60% 87.20% 87.40%

Note: Beginning in 2016 Graduate Percentages were adjusted to match the Georgia Department of Education fouryear 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)

*Average daily enrollment affected by pandemic.

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
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

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

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

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

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

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

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

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

2019 9,024 7,995 8,154 8,216 8,556 8,700 8,916 8,727 8,616 9,623 8,853 7,873 8,133

2020 9,256 7,838 8,186 8,178 8,347 8,613 8,740 8,949 8,816 9,684 9,001 7,945 8,207

2021 7,830 7,587 7,478 7,768 7,944 8,110 8,380 8,631 8,943 9,180 8,961 8,162 8,009

2022 8,387 7,427 7,629 7,529 7,758 7,956 8,122 8,435 8,674 9,872 8,722 8,061 8,029

Source: District Records

163

COBB COUNTY SCHOOL DISTRICT CLASSROOM BUILDINGS, GRADE LEVELS AND ACREAGE JUNE 30, 2022

School Name Acworth Elementary Addison Argyle Austell Baker Bells Ferry Belmont Hills Big Shanty Birney Blackwell Brown (b) Brumby Bryant Bullard Chalker Cheatham Hill City View Clarkdale Clay- Harmony Leland Clay Compton Davis Dowell Due West East Side Eastvalley Fair Oaks Ford Frey Garrison Mill Green Acres 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 Elementary Rocky Mount Russell Sanders

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-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-5 K-5 K-5 K-5

Active Enrollment
550 622 302 406 784 730 309 515 662 627
948 854 780 659 1,022 848 688 926
564 614 860 603 1,157 687 770 781 757 674 592 828 483 556 414 898 584 577 1,034 357 535 915 272 351 996 772 955 413 1,116 701 689 767 789 402 521 569 552 633

Size of Site (acres)
15.0 12.5 8.8 12.4 15.0 10.0 10.2 22.3 26.8 16.0 6.2 18.0 22.9 20.0 25.5 19.2 25.0 15.0 15.2 8.0 28.3 13.0 28.9 10.2 11.0 9.6 10.3 39.0 26.2 14.1 10.1 24.2 23.0 15.0 20.7 28.0 20.7 24.0 9.9 10.2 10.9 12.1 6.0 8.7 25.0 16.1 15.3 23.1 16.8 9.2 40.9 22.2 15.9 10.0 9.0 21.8 14.1 21.1

Occupied Year (a)
2001 1989 1961 2005 1988 1962 1952 1969 1973 1997 1955 2018 1991 2003 1997 1997 2001 2012 2020 1961 1969 1987 1989 1957 2011 1960 1957 1991 1996 1984 1995 1994 2002 1968 1987 2003 1992 1972 2020 1955 1986 2012 2005 1954 1978 2017 1975 1989 1998 1961 2008 2003 1988 1951 2005 1977 1961 1997

Number of Classrooms
59 42 36 36 65 46 36 52 59 52 24 73 61 63 62 68 61 55 78 29 50 50 62 38 69 36 54 53 62 44 44 61 61 53 38 61 62 48 69 44 61 61 36 40 60 61 61 40 60 52 63 61 57 30 36 39 61 53

Portable Classrooms
2 6 2 1 4 3
-
16 2 2 4 1 7 7 4 1 -

Square Footage
131,924 81,334 56,904 85,236 106,694 83,098 68,409 84,461 105,886 111,299 49,828 168,576 116,071 136,261 124,148 137,108 123,000 129,988 186,930 55,412 88,079 86,131 106,003 70,367 149,764 60,029 97,993 91,129 125,717 85,775 90,915 119,189 123,025 89,012 70,537 123,000 116,400 83,969 154,696 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 72,896 104,362 116,302

Capacity 925 662 562 562
1,025 737 562 837 925 837 412
1,162 962 987 975
1,063 962 887
1,250 450 800 800 975 600
1,087 562 875 862 975 700 700 962 962 862 600 962 975 762
1,050 700 962 962 512 637 937 962 962 637 937 837 987 962 900 462 562 612 962 862

164

COBB COUNTY SCHOOL DISTRICT CLASSROOM BUILDINGS, GRADE LEVELS AND ACREAGE JUNE 30, 2022

School Name Sedalia Park Shallowford Falls Smyrna Sope Creek 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 Pearson 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) Devereux Georgia (c) South Cobb Early Learning
TOTALS

Grades K-5 K-5 K-5 K-5 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 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 1-12 PK

Active Enrollment
619 615 914 1,061 747 935 489 817 746 647 649 864 1,191 1,055 930 1,200 1,210 999 1,323 881 936 954 1,025 534 1,154 991 1,287 881 609 1,010 835 853 610 870 928 871 1,701 2,698 252 2,200 2,293 1,399 1,799 1,920 2,240 2,514 2,443 2,279 1,803 1,876 1,814 2,651 2,249
65 50 393 104,849 *

Size of Site (acres)
10.2 15.3 11.9 16.0 10.9 12.9 11.5 23.7 20.0 28.0 26.2 25.8 33.2 75.1 20.0 21.9 20.6 43.0 17.6 20.0 36.6 24.4 26.4 28.7 33.3 83.8 29.4 22.0 34.8 38.0 43.1 10.0 39.7 22.0 25.5 16.9 114.7 47.9 16.1 73.0 100.9 63.1 75.0 49.3 74.9 46.8 51.0 52.5 47.0 66.0 41.3 65.2 48.4 6.2 10.1
8.4 3,034.8

Occupied Year (a)
1956 1990 2013 1978 1978 1961 1990 1979 1991 1996 1964 2005 1951 2001 1965 1980 1975 1998 2018 1964 1972 1972 1993 1962 2001 1992 2006 1979 1980 2006 2001 2021 1979 1988 1993 1975 2008 1964 2020 1991 2006 2002 2001 1980 1930 1957 1961 1963 1987 1951 1973 1975 1964 1958 1957

Number of Classrooms
58 61 61 73 62 52 39 60 62 60 64 71 87 71 72 73 73 71 84 68 60 70 62 44 71 70 71 71 58 71 71 62 56 59 70 70 100 169 20 133 100 104 102 107 126 147 124 80 98 134 107 145 116 18 30

1951

33 7,399

Portable Classrooms
2 3 6 4 3 -
14 -
94

Square Footage
99,735 112,620 143,107 133,344 117,539 108,100 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 11,260 179,170 165,107 175,345 165,479 149,577 191,209 175,974 176,646 169,809 143,888 169,345 157,435 330,289 497,352 94,627 444,830 319,000 321,068 319,000 376,835 504,107 485,833 466,189 264,915 336,955 420,443 297,400 466,505 434,631 32,500 50,270
65,127 18,054,109

Capacity 912 962 962
1,162 975 837 612 937 975 937
1,037 1,162 1,437 1,162 1,175 1,187 1,187 1,162 1,387 1,112
975 1,137 1,012
700 1,162 1,137 1,162 1,162
937 1,162 1,162 1,012
900 962 1,137 1,137 1,937 3,303 337 2,587 1,937 2,025 1,987 2,087 2,450 2,862 2,312 1,537 1,912 2,612 2,087 2,837 2,187 312 462
512 124,586

* Total active enrollment doe not include online virtual classrooms.
(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 unaffillated non-profit entities. Enrollment reports by Cobb County District; buildings do not belong to the district.

Source: District Records

165

(This page was left blank intentionally)