Distrito Escolar del - Osceola County School District

payable, $343,646 is installment-purchases payable and $9,346,115 is other long-term debt. Bonded debt
constituted the largest portion of long-term debt at the end of the fiscal year and was comprised of $12,225,000 of
bonds issued on behalf of and by the State Board of Education (SBE) and backed by the full faith and credit of
the State of Florida; $68,595,000 outstanding in District Revenue Bonds; and $203,120,000 in certificates of
participation.
Following is a summary of the District’s long-term debt as of June 30, 2012, compared to June 30, 2011.
Schedule of Outstanding Long-Term Debt
(excluding premiums and discounts)
Governmental Activities
June 30, 2012 June 30, 2011
State School (SBE) Bonds $ 12,225,000 $ 12,755,000
District Revenue Bonds 68,595,000 72,385,000
Certificates of Participation 203,120,000 210,340,000
Notes Payable 16,044,967 18,779,496
Installment Purchases Payable 343,646 669,702
Other Long-Term Debt 9,346,115 9,715,199
Total Outstanding Long-Term Debt $ 309,674,728 $ 324,644,397
The District’s total debt decreased by $14,969,669 or 4.6 percent, during the current fiscal year.
Additional information on the District’s long term debt can be found in Notes 6 - 12 to the financial statements.
OTHER MATTERS OF SIGNIFICANCE
As of June 2012, the U.S. Bureau of Labor Statistics reports the unemployment rate for Osceola County, Florida,
at 9.1 percent. This is a decrease from the rate of 11.1 percent a year ago and is higher than the State’s average
unemployment rate of 8.6 percent.
During the current fiscal year, assigned plus unassigned fund balance in the General Fund decreased by
$8,068,839 from the prior year ($74,363,697 to $66,294,858). This is due to a planned spending down of prior
fund balance needed to maintain operations despite revenue shortfalls in the current year.
1-12
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