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)