2012 CAFR - Pickerington Local School District

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PICKERINGTON LOCAL SCHOOL DISTRICT FAIRFIELD COUNTY, OHIO MANAGEMENT’S DISCUSSION AND ANALYSIS FOR THE FISCAL YEAR ENDED JUNE 30, 2012 The District’s Funds The District’s governmental funds (as presented on the balance sheet on page F17) reported a combined fund balance of $40,302,873, which is less than last year’s total of $43,844,385. The schedule below indicates the fund balance and the total change in fund balance as of June 30, 2012 and June 30, 2011. Fund Balance Fund Balance Increase/ June 30, 2012 June 30, 2011 (Decrease) General $ 8,747,002 $ 3,182,199 $ 5,564,803 District debt service 15,562,337 16,446,402 (884,065) Classroom facilities 5,985,619 12,642,981 (6,657,362) Other governmental 10,007,915 11,572,803 (1,564,888) Total $ 40,302,873 $ 43,844,385 $ (3,541,512) General Fund 2012 2011 Increase/ Percentage Amount Amount (Decrease) Change Revenues Taxes $ 44,076,131 $ 41,411,526 $ 2,664,605 6.43 % Tuition 511,088 393,460 117,628 29.90 % Earnings on investments 108,985 170,053 (61,068) (35.91) % Intergovernmental 46,050,518 45,530,762 519,756 1.14 % Other revenues 1,826,901 1,447,754 379,147 26.19 % Total $ 92,573,623 $ 88,953,555 $ 3,620,068 4.07 % Expenditures Instruction $ 50,662,737 $ 54,631,110 (3,968,373) (7.26) % Support services 34,557,895 36,774,290 (2,216,395) (6.03) % Operation of non-instructional services 36,358 47,077 (10,719) (22.77) % Extracurricular activities 1,526,803 2,055,529 (528,726) (25.72) % Facilities acquisition and construction 71,120 73,616 (2,496) (3.39) % Debt service 153,907 153,885 22 0.01 % Total $ 87,008,820 $ 93,735,507 $ (6,726,687) (7.18) % Overall revenues of the general fund increased $3,620,068 or 4.07%. The most significant increase was in the area tax revenues. The increase of $2,664,605 in tax revenues can be attributed to the increase in property taxes. This increase is attributable to the increase in revenue as a result of the District passing an operating levy in August 2011. The operating levy will generate an additional $6 million per year with collections beginning January 2012. Earnings on investments decreased $61,068 due to lower interest rates earned on investments compared to fiscal year 2011. F 10
PICKERINGTON LOCAL SCHOOL DISTRICT FAIRFIELD COUNTY, OHIO MANAGEMENT’S DISCUSSION AND ANALYSIS FOR THE FISCAL YEAR ENDED JUNE 30, 2012 Expenditures of the general fund decreased $6,726,687 or 7.18%. This decrease in expenditures is primarily due to the reduction of staff from the prior fiscal year. The staff reduction from the prior year was approximately 97 employees. District Debt Service Fund The District’s District debt service fund balance decreased $884,065. This decrease in fund balance is due to the scheduled principal and interest payments on bonds exceeding revenues. The table that follows assists in illustrating the financial activities and fund balance of the district debt service fund. 2012 2011 Increase/ Percentage Amount Amount (Decrease) Change Revenues Taxes $ 12,387,507 $ 12,952,055 $ (564,548) (4.36) % Other local revenues 32,369 39,531 (7,162) (18.12) % Intergovernmental 1,688,031 1,697,784 (9,753) (0.57) % Total $ 14,107,907 $ 14,689,370 $ (581,463) (3.96) % Expenditures Support services $ 230,272 $ 237,913 $ (7,641) (3.21) % Debt service 14,761,700 14,146,745 614,955 4.35 % Total $ 14,991,972 $ 14,384,658 $ 607,314 4.22 % Classroom Facilities Fund The classroom facilities fund had $19,539,476 in revenues and other financing sources and $26,196,838 in expenditures. The District was approved in fiscal year 2010 for an OSFC project to improve and renovate certain buildings in the District. The project was in full swing as of fiscal year 2011 and during fiscal year 2012, the District began to finalize and complete the project which explains the increased costs in expenditures. The buildings were completed during fiscal year 2012. 2012 2011 Increase/ Percentage Amount Amount (Decrease) Change Revenues Earnings on investments $ 2,686 $ 11,434 $ (8,748) (76.51) % Intergovernmental - state 18,436,790 22,177,757 (3,740,967) (16.87) % Total $ 18,439,476 $ 22,189,191 $ (3,749,715) (16.90) % Expenditures Facilities acquisition and construction $ 26,196,838 $ 18,454,383 $ 7,742,455 41.95 % Total $ 26,196,838 $ 18,454,383 $ 7,742,455 41.95 % F 11
Page 1 and 2: ThePickeringtonLocalSchoolDistrict
Page 3 and 4: COMPREHENSIVE ANNUAL COMPREHENSIVE
Page 5 and 6: INTRODUCTORY SECTION
Page 7 and 8: PICKERINGTON LOCAL SCHOOL DISTRICT
Page 9 and 10: COMBINING STATEMENTS AND INDIVIDUAL
Page 13 and 14: Instructional Organization: The Dis
Page 15 and 16: Summer School Opportunities: The Di
Page 17 and 18: AWARDS AND ACKNOWLEDGEMENTS The Gov
Page 19 and 20: Pickerington Local School District
Page 21 and 22: FINANCIAL SECTION
Page 23 and 24: INDEPENDENT AUDITORS’ REPORT Boar
Page 31: PICKERINGTON LOCAL SCHOOL DISTRICT
Page 81 and 82: COMBINING STATEMENTS AND INDIVIDUAL
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PICKERINGTON LOCAL SCHOOLS FAIRFIEL
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PICKERINGTON LOCAL SCHOOL DISTRICT
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PICKERINGTON LOCAL SCHOOLS COMBININ
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Summer School Alternative Education
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Miscellaneous Federal Grants Total
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Data Summer School Alternative Educ
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Total Drug Free Nonmajor School Mis
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PICKERINGTON LOCAL SCHOOLS FAIRFIEL
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STATISTICAL SECTION
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2008 2007 2006 2005 2004 2003 $ 7,8
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2008 2007 2006 2005 2004 2003 $ 47,
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2008 2007 2006 2005 2004 2003 $ 801
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2008 2007 2006 2005 2004 2003 $ 27,
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2008 2007 2006 2005 2004 2003 $ - $
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2008 2007 2006 2005 2004 2003 $ 41,
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2008 2007 2006 2005 2004 2003 $ - $
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Total Total Estimated Direct Assess
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Madison Violet School Township - Ci
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2007 2006 2005 2004 2003 $ 7,645,73
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2006 2005 2004 2003 92,544 92,544 9
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2012 CAFR - Pickerington Local School District

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