Distrito Escolar del - Osceola County School District

MANAGEMENT’S DISCUSSION AND ANALYSIS
As management of the Osceola County District School Board, Florida (District), we offer readers of the District’s
financial statements this narrative overview and analysis of the financial activities of the District for the fiscal year
ended June 30, 2012.
Because the information contained in the Management’s Discussion and Analysis (MD&A) is intended to
highlight significant transactions, events, and conditions, it should be considered in conjunction with the District’s
financial statements found on pages 18 to 64 of this report.
FINANCIAL HIGHLIGHTS
Key financial highlights for the 2011-12 fiscal year are as follows:
‣ Total assets of the District exceed total liabilities at the close of the most recent fiscal year by
$605,402,666.
‣ The District’s total net assets decreased by $19,449,288 or 3.1 percent from the 2010-11 year.
‣ At June 30, 2012, the District’s combined governmental fund balances totaled $159,443,794, a decrease
of $40,419,952, or 20.2 percent, in comparison with the prior fiscal year.
‣ The unassigned fund balance of the General Fund, representing the net current financial resources
available for general appropriation by the Board, totals $52,631,592 at June 30, 2012, or 14.3 percent of
total General Fund expenditures.
‣ The District’s total bonded debt (Bonds Payable and Certificates of Participation, excluding premiums
and discounts) decreased by $11,540,000, or 3.9 percent during the current fiscal year. The key factor in
this decrease was the payment of principal.
‣ The District’s net capital assets increased by $6,754,170, or 0.87 percent from the 2010-11 fiscal year.
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the District’s basic financial statements.
The District’s basic financial statements are comprised of three components:
‣ Government-wide financial statements.
‣ Fund financial statements.
‣ Notes to financial statements.
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