Distrito Escolar del - Osceola County School District

FINANCIAL ANALYSIS OF THE DISTRICT’S FUNDS
As noted earlier, the District uses fund accounting to ensure and demonstrate compliance with finance-related
legal requirements.
The focus of the governmental funds is to provide information on near-term inflows, outflows, and balances of
expendable resources. Such information is useful in assessing the District's financing requirements. In particular,
assigned plus unassigned fund balance may serve as a useful measure of a government's net resources available for
spending at the end of the fiscal year.
As of the end of the current fiscal year, the District's governmental funds report combined ending fund balances
of $159,443,793, a decrease of $40,419,952, in comparison with the 2010-11 fiscal year. Unassigned fund balance
of $52,631,592 represents 33 percent of the ending fund balances and is available to meet the District's short-term
spending needs. Remaining fund balances are nonspendable, restricted, or assigned, to indicate that they are not
available for new spending. Inventory balances of $2,254,433 are considered nonspendable. Fund balances
totaling $90,119,942 are restricted for state required carryover programs, debt service payments, capital projects,
and to fund other grants and programs. Fund balances totaling $14,437,826 are assigned to cover outstanding
contract commitments, carryover appropriations, a projected operating deficit, and other programs.
Major Governmental Funds
The General Fund is the chief operating fund of the District. At the end of the current fiscal year, the assigned
plus unassigned fund balance of the General Fund was $66,294,857, while total fund balance reached $84,317,016.
As a measure of the General Fund's liquidity, it may be useful to compare both assigned plus unassigned fund
balance and total fund balance to total expenditures. Assigned plus unassigned fund balance represents 18.3
percent of total General Fund expenditures, while total fund balance represents 22.8 percent of that same
amount.
During the current fiscal year, the fund balance of the General Fund decreased by $7,284,564. This was a planned
decrease to account for the loss of ARRA funding.
There were no changes to the fund balances for the Special Revenue – Other Federal Programs or Special
Revenue - ARRA Economic Stimulus Funds during the fiscal year since revenue cannot be recognized prior to
incurring expenditures.
The fund balance for the Debt Service- ARRA Economic Stimulus Funds decreased by $10,157, mainly due to
the timing of making debt service payments.
The fund balance for the Capital Projects - Other Fund decreased by $18,475,702 to $38,040,860. The decrease
in this fund is mainly due to the timing differences between collecting funds for and expending these funds on
construction projects.
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