Distrito Escolar del - Osceola County School District

The District adopts an annual appropriated budget for its General Fund, Special Revenue – Other Federal
Programs, and Special Revenue – ARRA Economic Stimulus Funds. Budgetary comparison schedules have been
provided on pages 20 - 24 of this report to demonstrate compliance with the budget.
The basic governmental fund financial statements can be found on pages 4 – 7 of this report.
Proprietary Funds. Proprietary funds may be established to account for activities in which a fee is charged for
services. One type of proprietary fund is maintained.
The internal service funds are used to report activities that provide goods and services to support the District’s
other programs and functions through user charges. The District uses the internal service funds to account for
the Health and Life Insurance Trust Fund and Casualty Insurance Loss Fund. Since these services predominantly
benefit governmental rather than business-type functions, the internal service funds have been included within
governmental activities in the government-wide financial statements.
Proprietary fund statements provide the same type of information as the government-wide financial statements,
only in more detail. Conversely, the internal service funds are combined into a single, aggregated column in the
proprietary fund financial statements.
The basic proprietary fund financial statements can be found on pages 8 - 10 of this report.
Fiduciary Funds. Fiduciary funds are used to account for resources held in a trustee or fiduciary capacity for the
benefit of parties outside the government. The District only has agency funds that are classified as fiduciary
funds. Fiduciary funds are not reflected in the government-wide financial statements, because the resources of
those funds are not available to support the District’s own programs. In its fiduciary capacity, the District is
responsible for ensuring that the assets reported in these funds are used only for their intended purposes.
The District uses agency funds to account for (1) resources held for student activities and groups and (2) for the
activities of Bellalago Charter Academy.
The Statement of Fiduciary Net Assets can be found on page 11.
Notes to the Financial Statements.
The notes provide additional information that is essential for a full understanding of the data provided in the
government-wide and fund financial statements. The notes to the basic financial statements can be found on
page 18 of this report.
Other Supplemental Information.
The combining statements referred to earlier in connection with non-major governmental funds are presented on
pages 25 – 59 of this report.
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