INTRODUCTORY SECTION
FINANCIAL SECTION
INDEPENDENT AUDITOR’S REPORT
To the School Board of
Independent School District No. 196
Rosemount, Minnesota
We have audited the accompanying financial statements of the governmental activities, each major fund,
and the aggregate remaining fund information of Independent School District No. 196 (the District) as of
and for the year ended June 30, 2008, which collectively comprise the District’s basic financial statements
as listed in the table of contents. These financial statements are the responsibility of the District’s
management. Our responsibility is to express opinions on these financial statements based on our audit.
The prior year partial comparative information presented has been derived from the District’s financial
statements for the year ended June 30, 2007, and in our report dated November 14, 2007, we expressed
unqualified opinions on the respective financial statements of the governmental activities, each major
fund, and the aggregate remaining fund information.
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States. Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes assessing the accounting principles used
and significant estimates made by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for our opinions.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respective financial position of the governmental activities, each major fund, and the aggregate remaining
fund information of the District as of June 30, 2008, and the respective changes in financial position and
cash flows, where applicable, thereof and the budgetary comparison for the General Fund for the year
then ended, in conformity with accounting principles generally accepted in the United States of America.
As described in Note 1 of the notes to basic financial statements, the District has implemented
Governmental Accounting Standards Board Statement No. 45, “Accounting and Reporting by Employees
for Post-Employment Benefits Other Than Pensions” during the year ended June 30, 2008.
The financial statements include prior year partial comparative information, which does not include all of
the information required in a presentation in conformity with accounting principles generally accepted in
the United States of America. Accordingly, such information should be read in conjunction with the
District’s financial statements for the year ended June 30, 2007, from which it was derived.
(continued)
-1-
Independent School District No. 196
Rosemount, Minnesota
“Educating our students to reach their full potential”
Management’s Discussion and Analysis
Fiscal Year Ended June 30, 2008
This section of Independent School District No. 196’s (the District) annual financial report presents
management’s discussion and analysis of the District’s financial performance during the fiscal year ended
June 30, 2008. Please read it in conjunction with the transmittal letter at the front of this report and the
District’s financial statements, which immediately follow this section.
FINANCIAL HIGHLIGHTS
As of June 30, 2008, the District shows an increase in total net assets from current year activities of
$17.11 million. There are many factors that have contributed to the increase. One of the main factors for
the increase can be attributed to the relationship of capital assets, net of depreciation, and the outstanding
debt related to capital assets.
A few key financial highlights from the District’s basic financial statements for the 2007–2008 fiscal year
are listed below.
•
The assets of the District exceeded its liabilities at the close of the 2007–2008 fiscal year by
$147.92 million. Of this amount, $27.24 million (unrestricted net assets) may be used to meet the
District’s ongoing obligations.
•
The District’s total net assets increased by $17.11 million from current year activities, with all
categories of net assets increasing.
•
The District adopted Governmental Accounting Standards Board Statement No. 45, “Accounting
and Financial Reporting by Employers for Post-Employment Benefits Other Than Pensions”
during the year. This resulted in a change in accounting principle that increased the District’s
beginning net assets by $11.44 million. This change primarily affected unrestricted net assets.
•
As of June 30, 2008, the District’s governmental funds reported combined ending fund balance of
$61.59 million, a net increase of $4.92 million in comparison with the prior year. Approximately
57.93 percent of this total amount, $35.68 million, is unreserved – undesignated fund balance.
•
At the close of the 2007–2008 fiscal year, unreserved – undesignated fund balance for the
General Fund was $33.76 million, or 12.19 percent of total General Fund expenditures.
•
The District’s long-term liabilities decreased by $24.78 million or 12.56 percent during the
current fiscal year. The key factors in this change were: a net reduction of outstanding bonds and
capital notes payable of $16.32 million, an increase of $2.85 million in capital lease obligations,
and a decrease of $11.37 million in severance and other post-employment benefits payable
(mainly due to the change in accounting principle discussed above).
-3-
OVERVIEW OF THE FINANCIAL STATEMENTS
The financial section of the annual report consists of the following:
•
Independent Auditor’s Report;
•
Required supplementary information;
•
Basic financial statements, including the government-wide financial statements, fund financial
statements, and the notes to basic financial statements; and
•
Supplemental information consisting of combining, individual fund, and capital assets statements
and schedules.
The basic financial statements include two kinds of statements that present different views of the District:
•
Government-Wide Financial Statements – The government-wide financial statements,
including the Statement of Net Assets and Statement of Activities, provide short-term and
long-term information about the District’s overall financial status.
•
Fund Financial Statements – The fund financial statements focus on individual parts of the
District, reporting the District’s operation in more detail than the government-wide statements.
The District maintains three groups of fund financial statements:
1. Governmental Funds Statements – Governmental funds statements review how basic
services such as regular and special education were financed in the short-term as well as
what remains for future spending.
2. Proprietary Funds Statements – Proprietary funds statements offer short-term and
long-term financial information about the activities the District operates like businesses.
3. Fiduciary Funds Statements – Fiduciary funds statements provide information about
the financial relationships in which the District acts solely as a trustee or agent for the
benefit of others to whom the resources belong.
The financial statements also include notes that explain some of the information in the statements and
provide more detailed data. Figure 1, shown at the top of the next page, depicts how the various parts of
this annual report are arranged and their relationship to one another.
-4-
Figure 1
Organization of
Comprehensive Annual Financial Report
Management’s
Discussion
and
Analysis
Basic
Financial
Statements
Government-Wide
Financial
Statements
Fund
Financial
Statements
Summary
Notes
to Basic
Financial
Statements
Detail
Figure 2, at the top of the next page, summarizes the major features of the District’s financial statements,
including portions of the District’s activities covered and the types of information they contain. The
remainder of this overview section of the MD&A highlights the structure and contents of each of the
statements.
-5-
Figure 2
Major Features of the Government-Wide and Fund Financial Statements
Government-Wide
Statements
Entire district (except
fiduciary funds)
Scope
Required financial
statements
– Statement of Net Assets
– Statement of Activities
Accounting basis and
measurement focus
Type of asset/liability
information
Accrual accounting and
economic resources focus
All assets and liabilities,
both financial and capital,
short-term and long-term
Type of inflow/outflow All revenues and expenses
information
during the year, regardless
of when cash is received
or paid
Governmental Funds
The activities of the District
that are not proprietary or
fiduciary, such as
building maintenance,
food service, and
community education
– Balance Sheet
Fund Financial Statements
Proprietary Funds
Activities of the District operate
similar to private businesses:
internal service fund
– Statement of Net Assets
– Statement of Revenue,
– Statement of Revenue,
Expenditures, and Changes Expenses, and Changes in
in Fund Balances
Fund Net Assets
Modified accrual accounting
and current financial focus
Generally assets expected
to be used up and
liabilities that come due
during the year or soon
thereafter; no capital
assets or long-term
liabilities included
Revenues for which cash is
received during or soon
after the end of the year;
expenditures when goods
or services have been
received and the related
liability is due and payable
– Statement of Cash Flows
Accrual accounting and
economic resources focus
All assets and liabilities,
both financial and capital,
and short-term and long-term
All revenues and expenses
during the year, regardless
of when cash is received
or paid
Fiduciary Funds
Instances in which the
District administers
resources on behalf of
someone else, such as
flexible benefit plans
– Statement of Fiduciary
Net Assets
– Statement of Changes
in Fiduciary Net Assets
Accrual accounting and
economic resources focus
All assets and liabilities,
both short-term and
long-term; funds do
not currently contain
capital assets, although
they can
All additions and
deductions during the
year, regardless of when
cash is received or
paid
Government-Wide Statements
The government-wide financial statements are designed to provide readers with a broad overview of the
District’s finances, using accounting methods similar to those used by private sector companies.
•
Statement of Net Assets – Presents all of the District’s assets and liabilities with the difference
between the two reported as net assets. Over time, increases or decreases in the District’s net
assets are indicators of whether its financial position is improving or deteriorating, respectively.
•
Statement of Activities – Presents information showing how the District’s net assets changed
during the most recent fiscal year. All of the current year’s revenues and expenses are accounted
for in the Statement of Activities regardless of when cash is received or paid.
To assess the overall health of the District requires consideration of additional non-financial factors such
as changes in the District’s property tax base and the condition of school buildings and other facilities.
In the government-wide financial statements the District’s activities are shown in one category titled
“governmental activities.”
•
Governmental Activities – The District’s basic services are reported here, including regular and
special education, transportation, administration, food services, and community education.
Property taxes and state aids finance most of these activities.
-6-
Fund Financial Statements
A fund is a grouping of related accounts that is used to maintain control over resources that have been
segregated for specific activities or objectives. The District uses fund accounting to ensure and
demonstrate compliance with finance-related legal requirements.
The fund financial statements provide more detailed information about the District’s funds, focusing on
its most significant or “major” funds, rather than the District as a whole. Funds (Food Service and
Community Service Special Revenue) that do not meet the threshold to be classified as major funds are
called “nonmajor” funds. Detailed financial information for nonmajor funds can be found in the
combining, individual fund, and capital assets statements and schedules section.
The District maintains three kinds of funds:
•
Governmental Funds – The District’s basic services are included in governmental funds which
generally focus on: 1) how cash and other financial assets that can readily be converted to cash
flow in and out, and 2) the balances left at year-end that are available for spending.
Consequently, the governmental funds statements provide a detailed short-term view that helps to
determine whether there are more or less financial resources that can be spent in the near future to
finance the District’s programs. Because this information does not encompass the additional
long-term focus of the government-wide statements, we provide additional information
(reconciliation schedules) immediately following the governmental funds statements that explain
the relationship (or differences) between these two types of financial statement presentations.
•
Proprietary Funds – Services for which the District charges a fee are generally reported in
proprietary funds. Proprietary funds are reported in the same way as the government-wide
statements. The District currently has two internal service funds for severance and other
post-employment benefits.
•
Fiduciary Funds – The District is the trustee, or fiduciary, for assets that belong to others, such
as the Employee Benefit Trust Fund and Scholarship Private-Purpose Trust Fund. The District is
responsible for ensuring that the assets reported in these funds are used only for their intended
purposes and by those to whom the assets belong. All of the District’s fiduciary activities are
reported in a separate Statement of Fiduciary Net Assets and a Statement of Changes in Fiduciary
Net Assets. We exclude these activities from the government-wide financial statements because
the District cannot use these assets to finance its operations.
FINANCIAL ANALYSIS OF THE DISTRICT AS A WHOLE
The District’s financial position is the product of many factors. As indicated earlier, net assets may serve
over time as a useful indicator of the District’s financial position. The reader needs to understand that the
determination of net capital assets involves a great deal of assumptions and estimates, such as current and
accumulated depreciation amounts. A conservative versus liberal approach to depreciation estimates, as
well as capitalization policies, will produce a significant difference in the calculated amounts. For these
reasons, it is important to view the net assets balance as a starting point to evaluate future years’ result,
rather than just focusing on the current balance.
-7-
Net Assets – The District’s combined net assets were $147.92 million on June 30, 2008. This is an
increase of $28.55 million or 23.91 percent from the previous year total of $119.37 million. (See Table 1)
Table 1
Net Assets – Governmental Activities
Percent Change
2007 to 2008
2008
2007
Current and other assets
Capital assets
$ 197,055,255
243,876,386
$ 189,157,109
239,076,487
4.18%
2.01%
Total assets
$ 440,931,641
$ 428,233,596
2.97%
$ 172,565,010
120,445,595
$ 197,341,364
111,518,240
(12.56%)
8.01%
$ 293,010,605
$ 308,859,604
(5.13%)
$ 103,319,797
17,359,320
27,241,919
$ 95,458,965
13,017,916
10,897,111
8.23%
33.35%
149.99%
$ 147,921,036
$ 119,373,992
23.91%
Long-term liabilities
Other liabilities
Total liabilities
Net assets
Invested in capital assets,
net of related debt
Restricted
Unrestricted
Total net assets
The largest portion of the District’s net assets (69.85 percent) reflects its investment in capital assets
(e.g., land, buildings, and furniture and equipment) less any related debt used to acquire those assets that
is still outstanding.
An additional portion of the District’s net assets (11.74 percent) represents resources that are restricted as
to how they may be used, such as capital assets acquisition and debt service payment needs. The
remaining balance of unrestricted net assets ($27.24 million) may be used to meet the District’s ongoing
obligations.
The District’s improved financial position is the product of many factors. However, two events of last
year stand out:
•
An increase of $100 in the per pupil unit basic general education formula allowance for the
2007–2008 fiscal year.
•
The previously described change in accounting principle that added $11.44 million to beginning
net assets.
-8-
Table 2, as presented below, contains a condensed version of the Change in Net Assets of the District:
Table 2
Change in Net Assets
Revenues
Program revenues
Charges for services
Operating grants and contributions
Capital grants and contributions
General revenues
Property taxes
General grants and aids
Other
Total revenues
Expenses
Administration
District support services
Elementary and secondary regular instruction
Vocational education instruction
Special education instruction
Instructional support services
Pupil support services
Sites and buildings
Fiscal and other fixed cost programs
Food service
Community service
Unallocated depreciation
Interest and fiscal charges on long-term debt
Total expenses
Increase in net assets
Percent Change
2007 to 2008
2008
2007
$ 17,853,460
42,921,499
17,710
$ 16,947,235
36,629,032
139,640
5.35%
17.18%
(87.32%)
74,921,563
186,584,417
6,068,643
328,367,292
74,258,266
177,947,725
6,309,454
312,231,352
0.89%
4.85%
(3.82%)
5.17%
10,572,073
8,012,405
140,899,720
3,498,530
52,071,654
16,520,831
20,173,827
24,115,360
420,089
10,328,031
8,184,218
8,498,619
7,962,893
311,258,250
9,484,268
7,633,812
132,937,600
3,140,928
51,392,350
12,831,921
19,048,297
23,362,778
698,075
9,784,347
7,612,062
7,888,195
8,682,186
294,496,819
11.47%
4.96%
5.99%
11.39%
1.32%
28.75%
5.91%
3.22%
(39.82%)
5.56%
7.52%
7.74%
(8.28%)
5.69%
$ 17,109,042
$ 17,734,533
(3.53%)
Changes in Net Assets – The District’s total revenues were $328.37 million for the year ended June 30,
2008. This is an increase of $16.14 million or 5.17 percent from the 2006–2007 actual revenues of
$312.23 million.
For 2007–2008, property taxes and general grants and aids accounted for 79.64 percent of total revenue
for the year.
About 13.07 percent of the District’s revenue came from operating and capital grants. Fees and charges
for services accounted for 5.44 percent of the total revenue, while the remaining 1.85 percent came from
other general revenue, including investment income.
-9-
For 2007–2008, the total cost of all programs and services was $311.26 million. This is an increase of
$16.76 million or 5.69 percent over the 2006–2007 total of $294.50 million.
As in past years, the bulk of the District’s resources (74.91 percent) were directed to providing
instructional services to our students enrolled in regular education, special education, and vocational
education programs (including instructional and pupil support). (See Figure 4)
The administrative activities of the District accounted for 3.40 percent of total costs for the year.
Total revenues surpassed expenses, increasing the District’s net assets by $17.11 million.
Figure 3
Sources of Revenues for Fiscal Year 2008
Other
1.85%
General Grants and
Aids
56.82%
Charges for Services
5.44%
Operating Grants
and Contributions
13.07%
Capital Grants and
Contributions
0.01%
Property Taxes
22.81%
Figure 4
Expenses for Fiscal Year 2008
Instructional Support
Services
5.31%
Pupil Support
Services
6.48%
Sites and Buildings
7.75%
Special Education
Instruction
16.73%
Food Service
3.32%
Community Service
2.63%
Vocational
Education
Instruction
1.12%
Elementary and
Secondary Regular
Instruction
45.27%
Fiscal and Other
Fixed Cost Programs
0.13%
Unallocated
Depreciation
2.73%
District Support
Services
2.57%
-10-
Administration
3.40%
Interest and Fiscal
Charges
2.56%
The cost of all governmental activities for 2007–2008 was $311.26 million. Of this amount,
$60.79 million was supported by “charges for services, operating grants, or capital grants” received by the
schools. The net cost of all governmental activities for 2007–2008 was $250.47 million. (See Table 3)
•
A majority of the District’s costs were paid for by district taxpayers and the taxpayers of our state
in property taxes and state aid based on the state-wide education aid formula.
•
The federal and state governments, and other local sources, subsidized certain programs with
grants and contributions. This totaled $42.94 million or 13.80 percent of the total costs for
2007–2008.
•
About 5.74 percent or $17.85 million of costs were paid by the users of the District’s programs.
•
Finally, $6.07 million of District revenue came from investment earnings and other general
revenue.
Table 3
Net Cost of Governmental Activities
Net Cost of Services
2008
2007
Administration
District support services
Elementary and secondary regular instruction
Vocational education instruction
Special education instruction
Instructional support services
Pupil support services
Sites and buildings
Fiscal and other fixed cost programs
Food service
Community service
Unallocated depreciation
Interest and fiscal charges on long-term debt
Total
$ 10,566,313
7,695,987
128,236,522
3,080,582
21,912,334
16,372,250
19,584,705
24,044,890
406,337
(432,871)
2,537,020
8,498,619
7,962,893
$
$ 250,465,581
$ 240,780,912
-11-
9,484,268
7,344,230
121,631,938
2,371,042
26,797,374
12,748,697
18,677,756
23,135,029
696,658
(444,902)
1,768,441
7,888,195
8,682,186
Percent Change
2007 to 2008
11.41%
4.79%
5.43%
29.93%
(18.23%)
28.42%
4.86%
3.93%
(41.67%)
(2.70%)
43.46%
7.74%
(8.28%)
4.02%
FINANCIAL ANALYSIS OF THE DISTRICT’S FUNDS
The financial performance of the District as a whole is also reflected in its governmental funds. As of
June 30, 2008, the District’s governmental funds reported a combined fund balance of $61.59 million, an
increase of $4.92 million or 8.68 percent from last year’s ending fund balance of $56.67 million. This net
increase is chiefly due to the following factors:
•
In 2007–2008, actual revenues and other financing sources were higher than actual expenses and
other financing uses in the General, Debt Service, Food Service Special Revenue, and
Community Service Special Revenue Funds.
•
A planned spend down of bond proceeds in the Capital Projects – Building Construction Fund for
voter-approved facilities improvement projects at the schools.
Table 4 shows the change in total fund balances of each of the District’s governmental funds:
Table 4
Governmental Fund Balances
as of June 30, 2008
Major funds
General
Capital projects –
building construction
Debt service
Total major funds
Nonmajor funds
Special revenue
Food service
Community service
Total nonmajor funds
Total major and nonmajor funds
Percent
Change
2007 to 2008
2008
2007
Increase
(Decrease)
$ 40,840,312
$ 33,410,126
$ 7,430,186
6,380,252
11,252,092
58,472,656
11,079,443
9,584,400
54,073,969
1,934,059
1,187,191
3,121,250
1,417,224
1,181,643
2,598,867
516,835
5,548
522,383
36.47%
0.47%
20.10%
$ 61,593,906
$ 56,672,836
$ 4,921,070
8.68%
-12-
(4,699,191)
1,667,692
4,398,687
22.24%
(42.41%)
17.40%
8.13%
GENERAL FUND
The General Fund is used by the District to record the primary operations of providing education services
to students from kindergarten through Grade 12. Pupil transportation activities and capital and major
maintenance projects are also included in the General Fund.
Funding for Minnesota school districts is largely driven by enrollment. Over the last five years, the
District’s enrollment has remained fairly stable in the number of students. Based on the results of the
summer 2004 demographic study of the District and subsequent enrollment projection updates, the
District anticipates that the total number of students will decline slightly for the next several years.
The graph below (Figure 5) shows that the District’s actual average daily membership over the last five
years has decreased steadily and the more significant decline occurred at the elementary level.
Figure 5
Students (Average Daily Membership)
30,000
9
13
,6
42
.6
6
13
,6
57
.9
13
,7
40
.7
2
7
13
,7
41
.1
20,000
13
,6
88
.7
6
25,000
13
,8
51
.0
2
14
,0
36
.0
4
14
,2
07
.0
8
6
14
,3
83
.2
5,000
14
,4
62
.7
10,000
4
15,000
2004
2005
2006
2007
2008
–
Elementary
-13-
Secondary
Table 5, as shown below, presents a summary of General Fund revenues and other financing sources:
Table 5
General Fund Revenues and Other Financing Sources
Year Ended June 30,
2008
2007
Revenues
Local sources
Property taxes
Interest earnings
Other
State sources
Federal sources
Total revenues
Other financing sources
Proceeds from sale of capital assets
Capital lease proceeds
Total other financing sources
Total General Fund revenues
and other financing sources
Amount of
Increase
(Decrease)
$ 10,996,151
61,587
(42,804)
13,759,378
1,521,828
26,296,140
Percent
Increase
(Decrease)
$ 53,038,956
2,592,197
8,984,486
212,970,606
9,222,494
286,808,739
$ 42,042,805
2,530,610
9,027,290
199,211,228
7,700,666
260,512,599
26.15%
2.43%
(0.47%)
6.91%
19.76%
10.09%
5,608
4,280,000
4,285,608
3,054
–
3,054
2,554
4,280,000
4,282,554
83.63%
100.00%
140,227.70%
$ 291,094,347
$ 260,515,653
$ 30,578,694
11.74%
During 2007–2008, the District’s total General Fund revenue increased by $26.30 million, or
10.09 percent from the previous year. Basic general education revenue is determined by a state per pupil
funding formula. Other state authorized revenue, including operating levy referendum and the property
tax shift, involve an equalized mix of property tax and state aid revenue. As a result, the mix of property
tax and state aid can change significantly from year to year without any net change in revenue.
The increase in General Fund revenues is mainly the result of:
1) An increase of $100 per pupil general education revenue,
2) An increase in special education aid as a result of changes to the funding formula approved by the
2007 Legislature,
3) A change in how the District is required to report its $6.73 million alternative facilities property
tax levy. The 1999 Minnesota Legislature provided additional funding options for qualifying
school districts to finance required deferred maintenance, accessibility improvements, or to make
fire, safety, or health-related repairs either by selling bonds or levying for the required costs.
These are referred to as alternative facilities bonds or alternative facilities levies. The District has
been using the property tax option since the 2000–2001 fiscal year. Prior to the 2007–2008 fiscal
year, school districts in the state were instructed by the Minnesota Department of Education to
report alternative facilities levies and the corresponding expenditures in their Capital Projects –
Building Construction Fund. However, in the spring of 2008, school districts were informed that
effective with the 2007–2008 fiscal year, alternative facilities levies should be reported as
revenue in the school districts’ General Fund and “transferred” to the Capital Projects – Building
Construction Fund (and reported as “other financing uses”). Of the $11.00 million increase in
property tax revenues, $6.73 million is a result of this accounting change mandated by the state.
4) In 2007–2008, the District received a $1.77 million federal grant to help support its magnet
programs at three elementary schools.
-14-
Table 6, as shown below, presents a summary of General Fund expenditures and other financing uses:
Table 6
General Fund Expenditures and Other Financing Uses
Amount of
Increase
(Decrease)
Year Ended June 30,
2008
2007
Expenditures
Salaries
Employee benefits
Purchased services
Supplies and materials
Capital expenditures
Other expenditures
Total expenditures
Other financing uses
Transfers out
Total General Fund expenditures
and other financing uses
$ 10,200,960
4,962,119
386,752
(229,481)
4,584,540
(346,927)
19,557,963
Percent
Increase
(Decrease)
$ 179,928,894
51,799,569
21,850,105
9,462,413
10,876,238
2,980,706
276,897,925
$ 169,727,934
46,837,450
21,463,353
9,691,894
6,291,698
3,327,633
257,339,962
6.01%
10.59%
1.80%
(2.37%)
72.87%
(10.43%)
7.60%
6,766,236
–
6,766,236
100.00%
$ 283,664,161
$ 257,339,962
$ 26,324,199
10.23%
Total General Fund expenditures increased $19.56 million or 7.60 percent from the previous year. A
majority (77.53 percent) of this increase can be attributed to salaries and benefit increases due to School
Board-approved contractual agreements and severance contributions.
In fiscal year 2007–2008, salaries and benefits increased by a combined 7.01 percent mainly due to salary
increases in accordance with School Board-approved contractual agreements and additional staff hired as
a result of the $1.77 million federal magnet program grant.
Capital expenditures for the 2007–2008 fiscal year increased by $4.58 million; this is mainly due to a
$4.28 million capital lease issued for the District’s new administrative office.
The reported other financing uses (transfers out) of $6.77 million are mainly due to the change in how
school districts in the state report alternative facilities levies. A detailed explanation can found on the
previous page.
In summary, 2007–2008 General Fund revenues and other financing sources exceeded General Fund
expenditures and other financing uses by $7.43 million. As a result, total fund balance increased by the
same amount at June 30, 2008. After deducting statutory reserves and internal designations, the
unreserved – undesignated fund balance increased from $25.37 million at June 30, 2007 to $33.76 million
at June 30, 2008.
-15-
Figure 6 and Table 7 show the General Fund – Operating Account unreserved – undesignated fund
balance as a percentage of expenditures.
Figure 6
General Fund – Operating Account
Unreserved – Undesignated Fund Balance as a Percentage of Expenditures
$250,000,000
$240,000,000
$230,000,000
$220,000,000
$210,000,000
$200,000,000
$190,000,000
$180,000,000
$170,000,000
$160,000,000
$150,000,000
$140,000,000
$130,000,000
$120,000,000
$110,000,000
$100,000,000
$90,000,000
$80,000,000
$70,000,000
$60,000,000
$50,000,000
$40,000,000
$30,000,000
$20,000,000
$10,000,000
$–
13.85%
16.60%
11.39%
11.86%
2004
9.15%
2005
2006
Fund Balance
2007
2008
Total Expenditures
The graph, as shown in Figure 6 above, is the single best measure of the District’s overall financial health.
The unreserved – undesignated fund balance of $34.31 million in the Operating Account of the General
Fund at June 30, 2008 represents 13.85 percent of annual operating account expenditures or slightly over
seven weeks of operations. It is the District’s desire to continue to provide quality instructional services
to our students; the administration and School Board will continue to monitor expenditures and strive to
maintain a minimum fund balance of 5 percent of operating costs.
-16-
Table 7
General Fund – Operating Account
Unreserved – Undesignated Fund Balance and Expenditures
Unreserved – undesignated
fund balance
Percent increase (decrease)
Expenditures
2004
2005
2006
2007
2008
$ 33,614,335
$ 25,229,747
$ 20,591,397
$ 26,419,738
$ 34,307,646
28.30%
29.86%
(5.44%)
(24.94%)
(18.38%)
$ 202,481,607
$ 212,807,924
$ 225,063,993
$ 232,020,352
$ 247,634,144
Percent increase (decrease)
6.96%
5.10%
5.76%
3.09%
6.73%
Percent of fund balance to
expenditures
16.60%
11.86%
11.39%
13.85%
9.15%
General Fund Budgetary Highlights
The District is required to adopt an operating budget prior to the beginning of its fiscal year (July 1),
referred to as the preliminary budget. Over the course of the year, the District revised its annual operating
budget twice. These budget amendments fall into two categories:
•
Implementing budgets for specially funded projects, which include both federal and state grants,
adjusting staffing and various instructional allocations to the schools based on actual enrollment
on October 1, 2007, and unspent funds carried over from fiscal year 2006–2007.
•
Increase in appropriations for significant unbudgeted costs.
-17-
The final budget amounts, as shown in Table 8 below, include all of these adjustments and represent the
District’s revised estimates for 2007–2008.
Table 8
General Fund Budget
Final Budget
Revenue and other
financing sources
$ 275,021,712
$ 277,211,129
$
2,189,417
0.80%
Expenditures and other
financing uses
$ 269,891,802
$ 278,026,512
$
8,134,710
3.01%
Net gain (loss)
$
$
$
(5,945,293)
5,129,910
(815,383)
Increase
(Decrease)
Percent Change
Preliminary
to Final
Preliminary
Budget
(115.89%)
While the District’s final budget for the General Fund anticipated that expenditures and other financing
uses would exceed revenues and other financing sources by $0.82 million, the actual results for the year
show an excess of revenues and other financing sources over expenditures of $7.43 million.
•
Actual revenues were about $9.60 million more than expected. This is mainly due to a change in
how alternative facilities levy revenues are reported (refer to page 14 for a detailed explanation),
higher than expected interest income from short-term investments of cash on hand, admission and
co-curricular participation fees collected from students, and additional funds raised by the
schools.
•
Actual expenditures were $1.13 million or 0.41 percent lower than budget.
CAPITAL PROJECTS – BUILDING CONSTRUCTION FUND
Fiscal year 2007–2008 is the fourth year after the passage of the June 2004 $68.00 million facilities
referendum. All of the planned building construction and facilities improvement projects are progressing
as planned.
The Capital Projects – Building Construction Fund expenditures exceeded revenues and other financing
sources by $4.70 million at June 30, 2008, resulting in a decrease of the same amount in the June 30,
2008 fund balance. The decrease is mainly a result of the planned spend down of the fund balance to
complete approved projects. The Capital Projects – Building Construction Fund balance shows a balance
of $6.38 million as of June 30, 2008.
-18-
DEBT SERVICE FUND
Revenues and expenditures for the District’s Debt Service Fund are directly tied to the District’s bond
principal and interest payment needs. For 2007–2008, approximately 92.25 percent of the District’s debt
service revenues came from property taxes. The balance came from the state in the form of homestead
and agricultural market value property tax credits and interest income from short-term investments.
In 2007–2008, the District’s total Debt Service Fund revenues and other financing sources exceeded
expenditures and other financing uses by $1.67 million.
The June 30, 2008 Debt Service Fund balance totaled $11.25 million. Of this amount, $3.90 million is
reserved for bond refunding. The remaining $7.35 million is available for regular debt service.
NONMAJOR FUNDS
Revenues and other financing sources in the nonmajor funds exceeded expenditures by $0.52 million.
Food Service Special Revenue Fund
The Food Service Special Revenue Fund revenues and other financing sources for 2007–2008 totaled
$10.86 million and expenditures were $10.34 million, resulting in an increase in the fund balance of
$0.52 million. The June 30, 2008 Food Service Special Revenue Fund balance is $1.93 million.
The 2007–2008 actual revenues and other financing sources were $0.42 million or 4.02 percent more than
the budgeted amount. This is mainly due to higher than anticipated revenues from sales to students and
higher than expected investment earnings from short-term investments.
The actual 2007–2008 Food Service Special Revenue Fund expenditures were $10.34 million or
4.08 percent lower than the budgeted amount. This is mainly due to lower than anticipated food and milk
costs, and savings from planned capital improvement projects and equipment purchased.
Consistent with the food service comprehensive capital projects plan, the District will continue to use the
accumulated fund balance to fund routine state authorized equipment purchases and major capital
projects.
Community Service Special Revenue Fund
In 2007–2008, the total revenues and other financing sources for the Community Service Special Revenue
Fund were $8.14 million and the total expenditures were $8.14 million. Total revenues and other
financing sources exceeded total expenditures by $5,548, resulting in an increase of the same amount in
the June 30, 2008 fund balance. The Community Service Special Revenue Fund balance as of June 30,
2008 is $1.19 million. Of this amount, $666,000 is reserved for community education, $267,000 is
reserved for the Adult Basic Education Program, $157,000 is reserved for the Early Childhood Family
Education Program, $84,000 is reserved for the School Readiness Program, and $13,000 is reserved for
prepaid items.
-19-
INTERNAL SERVICE FUNDS
The District has established two internal service funds to finance severance and other post-employment
benefits provided to all of the departments and funds of the District on a cost-reimbursement basis.
The District adopted Governmental Accounting Standards Board Statement No. 45, “Accounting and
Financial Reporting by Employers for Post-Employment Benefits Other Than Pensions” during the
2007–2008 fiscal year. This resulted in a change in accounting principle that increased the District’s
beginning net assets by $11.44 million.
As of June 30, 2008, assets (mainly short-term investments) reported in the internal service funds totaled
$9.04 million, while severance obligations and the net pension obligation for other post-employment
benefits totaled $14.05 million. The reported net assets were a negative $5.01 million.
The District has set aside $8.00 million for severance liabilities; this was authorized by the School Board
and transferred from the District’s General Fund in previous years.
CAPITAL ASSETS AND DEBT ADMINISTRATION
CAPITAL ASSETS
By the end of 2008, the District has net capital assets of $243.88 million representing a broad range of
capital assets, including school buildings, athletic facilities, computer and audio-visual equipment, and
other equipment for various instructional programs (see Table 9). More detailed information about
capital assets can be found in Note 3 of the notes to basic financial statements. Total depreciation
expenses for the year were $10.73 million.
During 2007–2008, the District invested a total of $15.96 million in buildings, furniture and equipment,
and construction in progress. Approximately one-third ($5.14 million) of the increase is due to major
facilities improvement projects funded by the sale of the $37.50 million 2004A and the $20.12 million
2005A bond issues approved by district voters in June 2004. The remaining $10.82 million increase can
be attributed to major maintenance and building improvement projects approved by the state and funded
by alternative facility levy revenue; health and safety and operating capital revenues and the capital lease
for the District’s new administrative facility.
Table 9
Capital Assets
2008
Land
Land improvements
Buildings
Furniture and equipment
Construction in progress
Less accumulated depreciation
Total
$
8,870,712
9,886,433
308,275,232
30,967,101
29,026,823
(143,149,915)
$ 243,876,386
-20-
2007
$
8,870,712
9,741,173
271,168,845
28,255,670
55,022,066
(133,981,979)
$ 239,076,487
Percent Change
2007–2008
–
1.49%
13.68%
9.60%
(47.25%)
6.84%
2.01%
LONG-TERM LIABILITIES
At year-end, the District had $145.52 million in general obligation bonds, refunding bonds, capital notes,
and state energy loans outstanding. This is a decrease of $16.32 million from the previous year, as shown
in Table 10.
•
The District continued to pay down its debt, retiring $27.41 million of outstanding bonds and
capital notes during the year.
•
Capital leases payable show a net increase of $2.85 million, mainly due to the addition of a
$4.28 million capital lease for the purchase and renovation of a new district office facility and the
retirement of existing leases. The District continues to make required scheduled payments.
Table 10
Outstanding Long-Term Liabilities
General obligation bonds
Refunding bonds
Capital notes – special assessments
State energy loans
Capital leases payable
Severance benefits payable
Accrued vacation payable
Percent Change
2007 to 2008
2008
2007 (1)
$ 115,215,000
29,730,000
560,000
10,259
13,074,455
11,313,457
2,661,839
$ 131,480,000
29,595,000
750,000
12,824
10,225,985
11,245,875
2,593,678
(12.37%)
0.46%
(25.33%)
(20.00%)
27.86%
0.60%
2.63%
$ 172,565,010
$ 185,903,362
(7.17%)
(1) The prior year balance has been restated to reflect the change in accounting principal described in the
notes to basic financial statements.
-21-
Bond Ratings
The District’s general obligation bonds carry a rating of
Aa2, upgraded by Moody’s Investors Services in February
2008.
Limitation on Debt
The state limits the amount of general obligation debt the
District can issue up to 15 percent of actual market value of
all taxable property within the District’s boundaries. The
estimated market value of all taxable property is
$17.38 billion for calendar year 2008 and the District’s
debt limit is $2.61 billion.
The District’s outstanding debt is significantly below this
limit. The District’s outstanding debt as of June 30, 2008
is $145.51 million. The amount that is applicable to the
debt limit calculation is $134.25 million (total outstanding
debt less Debt Service Fund balance).
Additional details of the District’s capital assets and long-term debt activity can be found in the
notes to basic financial statements.
FACTORS BEARING ON THE DISTRICT’S FUTURE
With the exception of the voter-approved operating referendum, the District is dependent on the
state of Minnesota for its revenue authority. Recent experience has demonstrated that legislated
revenue increases have been insufficient to meet instructional program needs and increased costs
due to inflation.
Even though the 2006 Legislature approved increases in the per pupil basic general education
formula allowance for the 2007–2008 and 2008–2009 fiscal years, they have not been sufficient
to reverse the impact of the three previous years at the same level of funding with consistently
rising costs. Recent economic downturns and uncertainties will impact the state’s ability to
adequately fund school districts.
Unlike other school districts in the state, voters in the District approved an operating levy
referendum in November 2005 to provide additional funding for education. This operating levy
is a 10-year levy and the District began to collect the revenue in 2006–2007. The District is
committed to maintaining its long-standing commitment to academic excellence and educational
opportunity for students and striving to maintain sustainable operations.
However, unpredictable funding from the state and increasing reliance on local levies for funding
basic programs along with the double-digit increase in health costs and energy cost increases
continue to be major challenges for Minnesota schools.
CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT
This financial report is designed to provide our citizens, taxpayers, customers, investors, and
creditors with a general overview of the District’s finances and to demonstrate the District’s
accountability for the money it receives. If you have questions about this report or need
additional financial information, contact the Finance Department, Independent School District
No. 196, 14445 Diamond Path West, Rosemount, Minnesota 55068.
-22-
INDEPENDENT SCHOOL DISTRICT NO. 196
Balance Sheet
Governmental Funds
as of June 30, 2008
(With Partial Comparative Information as of June 30, 2007)
General Fund
Capital Projects –
Building
Construction Fund
Debt Service Fund
Nonmajor Funds
$
$
$
Total Governmental Funds
2008
2007
Assets
Cash and temporary investments
Cash and investments held by trustee
Receivables
Current taxes
Delinquent taxes
Accounts and interest receivable
Due from other governmental units
Due from other funds
Inventory
Prepaid items
Total assets
$
76,428,198
1,800,000
31,003,748
504,800
432,462
23,308,534
1,125
467,178
357,190
7,358,178
–
–
–
–
–
–
–
19,738
15,007,981
3,837,209
10,534,427
209,588
93,108
191,511
–
–
–
4,002,030
–
$
819,327
17,000
39,770
672,471
–
124,435
19,563
102,796,387
5,637,209
$
42,357,502
731,388
565,340
24,172,516
1,125
591,613
396,491
93,404,809
3,839,419
42,760,182
507,382
928,865
23,766,412
115,700
610,889
371,845
$
134,303,235
$
7,377,916
$
29,873,824
$
5,694,596
$
177,249,571
$
166,305,503
$
16,341,208
20,599,127
2,135,631
–
51,942,908
1,939,249
504,800
93,462,923
$
–
991,460
5,079
1,125
–
–
–
997,664
$
–
–
–
–
18,412,144
–
209,588
18,621,732
$
330,063
551,176
1,333
–
1,436,924
236,850
17,000
2,573,346
$
16,671,271
22,141,763
2,142,043
1,125
71,791,976
2,176,099
731,388
115,655,665
$
15,548,479
18,655,241
1,564,894
115,700
72,763,625
477,346
507,382
109,632,667
Liabilities and Fund Balances
Liabilities
Salaries and compensated absences payable
Accounts and contracts payable
Due to other governmental units
Due to other funds
Property taxes levied for subsequent year
Unearned revenue
Deferred revenue – delinquent taxes
Total liabilities
Fund balances
Reserved
Unreserved – designated
Unreserved – undesignated, reported in
General Fund
Special revenue funds
Total fund balances
Total liabilities and fund balances
$
6,554,348
530,506
6,380,252
–
3,902,005
7,350,087
1,194,001
–
18,030,606
7,880,593
33,755,458
–
40,840,312
–
–
6,380,252
–
–
11,252,092
–
1,927,249
3,121,250
33,755,458
1,927,249
61,593,906
134,303,235
$
7,377,916
See notes to basic financial statements
Pages 26 and 27
$
29,873,824
$
5,694,596
$
177,249,571
22,682,708
7,177,844
25,373,218
1,439,066
56,672,836
$
166,305,503
INDEPENDENT SCHOOL DISTRICT NO. 196
Statement of Revenue, Expenditures, and Changes in Fund Balances
Governmental Funds
Year Ended June 30, 2008
(With Partial Comparative Information for the Year Ended June 30, 2007)
General Fund
Revenue
Local sources
Property taxes
Investment earnings
Other
State sources
Federal sources
Total revenue
$
Expenditures
Current
Administration
District support services
Elementary and secondary regular instruction
Vocational education instruction
Special education instruction
Instructional support services
Pupil support services
Sites and buildings
Fiscal and other fixed cost programs
Food service
Community service
Capital outlay
Debt service
Principal
Interest and fiscal charges
Total expenditures
Excess (deficiency) of revenue over expenditures
Other financing sources (uses)
Debt issued
Premium on debt issued
Proceeds from sales of capital assets
Paid to refunded debt escrow agent
Transfers in
Transfers (out)
Total other financing sources (uses)
Net change in fund balances
Fund balances
Beginning of year
End of year
$
53,038,956
2,592,197
8,984,486
212,970,606
9,222,494
286,808,739
Capital Projects –
Building
Construction Fund
Debt Service Fund
Nonmajor Funds
$
$
$
–
292,845
30
–
–
292,875
20,022,272
876,756
–
806,565
–
21,705,593
1,636,329
200,106
12,198,350
2,253,058
2,674,342
18,962,185
Total Governmental Funds
2008
2007
$
74,697,557
3,961,904
21,182,866
216,030,229
11,896,836
327,769,392
$
74,065,528
4,525,997
20,512,946
202,416,935
10,263,367
311,784,773
10,293,805
8,012,337
138,688,332
3,501,957
52,056,253
16,489,090
19,977,362
25,540,858
420,089
–
51,110
–
–
–
–
–
–
–
–
–
–
–
–
11,720,462
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
10,153,258
8,074,477
250,407
10,293,805
8,012,337
138,688,332
3,501,957
52,056,253
16,489,090
19,977,362
25,540,858
420,089
10,153,258
8,125,587
11,970,869
9,647,124
7,570,746
132,069,330
3,136,167
50,942,815
12,745,304
19,406,860
19,173,883
698,075
9,932,991
7,591,026
17,303,531
1,431,530
435,202
276,897,925
–
–
11,720,462
15,837,565
4,190,137
20,027,702
–
–
18,478,142
17,269,095
4,625,339
327,124,231
18,976,990
5,196,882
314,391,724
9,910,814
(11,427,587)
1,677,891
484,043
645,161
4,280,000
–
5,608
–
–
(6,766,236)
(2,480,628)
–
–
–
–
6,728,396
–
6,728,396
11,085,000
474,801
–
(11,570,000)
–
–
(10,199)
–
–
500
–
37,840
–
38,340
15,365,000
474,801
6,108
(11,570,000)
6,766,236
(6,766,236)
4,275,909
3,958,369
–
9,329
(3,944,519)
–
–
23,179
7,430,186
(4,699,191)
1,667,692
522,383
4,921,070
(2,583,772)
33,410,126
11,079,443
9,584,400
2,598,867
56,672,836
59,256,608
40,840,312
$
6,380,252
$
11,252,092
See notes to basic financial statements
Pages 30 and 31
$
3,121,250
$
61,593,906
(2,606,951)
$
56,672,836
INDEPENDENT SCHOOL DISTRICT NO. 196
Schedule of Changes in Capital Assets
Year Ended June 30, 2008
Balance –
June 30, 2007
Capital assets
Land
Land improvements
Buildings
Furniture and equipment
Construction in progress
Total capital assets
Capital assets by source
General Fund and special revenue funds
General obligation bonds
Certificates of participation
Total capital assets by source
Capital assets by function and activity
Administration and instructional
Food service
Community service
Total capital assets by function and activity
Additions
Balance –
June 30, 2008
$
8,870,712
9,741,173
271,168,845
28,255,670
55,022,066
$
–
–
111,181
2,337,152
13,513,835
$
–
–
(959,539)
(1,034,794)
–
$
–
145,260
37,954,745
1,409,073
(39,509,078)
$
8,870,712
9,886,433
308,275,232
30,967,101
29,026,823
$
373,058,466
$
15,962,168
$
(1,994,333)
$
–
$
387,026,301
$
60,968,885
311,692,048
397,533
$
4,417,103
11,545,065
–
$
(1,500,323)
(494,010)
–
$
–
–
–
$
63,885,665
322,743,103
397,533
$
373,058,466
$
15,962,168
$
(1,994,333)
$
–
$
387,026,301
$
370,181,445
2,811,371
65,650
$
15,857,421
92,135
12,612
$
(1,947,233)
(47,100)
–
$
–
–
–
$
384,091,633
2,856,406
78,262
$
373,058,466
$
15,962,168
$
(1,994,333)
$
–
$
387,026,301
$
2,539,966
1,605,601
6,730,671
188,339
62,068
11,720,462
22,847,107
Reconciliation of financial statement
capital expenditures to capital asset additions
Financial statement capital expenditures
General Fund – Operating Account
General Fund – Pupil Transportation Account
General Fund – Capital Expenditure Account
Food Service Special Revenue Fund
Community Service Special Revenue Fund
Capital Projects – Building Construction Fund
Total capital expenditures
Less non-inventoriable expenditures included in above funds
Total additions in capital assets
Completed
Construction
Retirements
(6,884,939)
$
15,962,168
Pages 108 and 109
STATISTICAL SECTION
(UNAUDITED)
INDEPENDENT SCHOOL DISTRICT NO. 196
Net Assets by Component
Last Seven Fiscal Years
(Accrual Basis of Accounting)
Governmental activities
Invested in capital assets, net of related debt
Restricted for
Capital asset acquisition
Debt service
Other purposes
Unrestricted
Total governmental activities net assets
2002
2003
2004
$ 41,886,091
$ 53,778,146
$ 60,179,849
7,270,705
6,047,853
4,403,895
15,045,425
6,974,721
3,710,929
3,962,571
20,020,814
$ 74,653,969
$ 88,447,181
Fiscal Year
2005
2006
2007
2008
$ 69,433,592
$ 81,835,420
$ 95,458,965
$ 103,319,797
7,128,586
4,488,084
3,596,835
19,431,727
5,968,529
3,286,123
4,143,352
12,972,575
7,674,309
2,587,629
2,714,168
6,827,933
5,684,074
4,362,373
2,971,469
10,897,111
7,405,149
6,135,754
3,818,417
27,241,919
$ 94,825,081
$ 95,804,171
$ 101,639,459
$ 119,373,992
$ 147,921,036
Note: The District implemented GASB Statement No. 34 in fiscal 2002. This information is not available for previous fiscal years.
Pages 112 and 113
INDEPENDENT SCHOOL DISTRICT NO. 196
Changes in Net Assets
Last Seven Fiscal Years
(Accrual Basis of Accounting)
Governmental activities
Expenses
Administration
District support services
Elementary and secondary
regular instruction
Vocational education instruction
Special education instruction
Instructional support services
Pupil support services
Sites and buildings
Fiscal and other fixed cost programs
Food service
Community service
Unallocated depreciation
Interest and fiscal charges on debt
Total expenses
Program revenues
Charges for services
Operating grants and contributions
Capital grants and contributions
Total program revenues
Net (expense) revenue
General revenues
Taxes
Property taxes, levied for general purposes
Property taxes, levied for community service
Property taxes, levied for facility
improvements
Property taxes, levied for debt service
General grants and aids
Other general revenues
Investment earnings
Total general revenues
Change in net assets
Note:
2002
2003
2004
Fiscal Year
2005
2006
2007
2008
$ 8,701,357
7,240,046
$ 9,835,546
8,627,590
$ 9,023,422
9,090,491
$ 8,968,491
7,360,345
$ 10,283,117
7,023,583
$ 9,484,268
7,633,812
$ 10,572,073
8,012,405
105,472,893
2,743,895
28,849,248
9,978,402
13,469,152
22,014,327
525,633
8,120,680
6,230,120
6,955,715
10,891,286
231,192,754
112,527,018
2,941,920
36,312,321
9,885,838
15,940,952
19,018,428
673,507
8,529,346
6,515,994
7,173,431
10,407,709
248,389,600
117,529,564
3,317,329
36,873,401
11,339,355
16,423,852
19,794,294
651,645
9,247,290
6,354,611
7,358,717
9,560,956
256,564,927
120,450,092
3,069,387
44,705,910
10,759,944
17,298,222
21,967,112
749,823
9,374,977
5,937,810
7,484,115
9,185,031
267,311,259
126,937,537
3,008,206
46,657,304
11,457,813
18,465,033
20,981,875
755,136
9,686,879
6,861,761
7,727,307
9,661,153
279,506,704
132,937,600
3,140,928
51,392,350
12,831,921
19,048,297
23,362,778
698,075
9,784,347
7,612,062
7,888,195
8,682,186
294,496,819
140,899,720
3,498,530
52,071,654
16,520,831
20,173,827
24,115,360
420,089
10,328,031
8,184,218
8,498,619
7,962,893
311,258,250
12,993,019
25,253,389
4,677,609
42,924,017
13,861,582
29,911,982
380,419
44,153,983
14,639,755
30,454,788
114,198
45,208,741
15,199,707
32,257,806
64,745
47,522,258
16,427,579
36,220,285
103,954
52,751,818
16,947,235
35,893,518
139,640
52,980,393
17,853,460
42,921,499
17,710
60,792,669
(188,268,737)
(204,235,617)
(211,356,186)
(219,789,001)
(226,754,886)
(241,516,426)
(250,465,581)
41,187,343
1,275,311
22,729,126
1,236,554
35,724,669
1,348,139
21,910,160
1,590,944
13,315,999
815,744
42,180,245
1,633,165
46,474,687
1,641,337
4,253,749
17,372,047
128,820,035
463,877
3,336,590
196,708,952
4,961,214
14,989,869
171,358,179
169,473
2,584,414
218,028,829
5,127,985
16,031,296
157,332,041
105,923
2,064,033
217,734,086
7,672,625
15,813,739
170,583,278
430,208
2,767,137
220,768,091
6,805,943
18,393,234
187,194,406
1,716,786
4,348,062
232,590,174
8,503,194
21,941,662
178,683,239
1,529,616
4,779,838
259,250,959
6,728,396
20,077,143
186,584,417
1,732,845
4,335,798
267,574,623
$ 8,440,215
$ 13,793,212
$ 6,377,900
$
$ 5,835,288
$ 17,734,533
$ 17,109,042
The District implemented GASB Statement No. 34 in fiscal 2002. This information is not available for previous fiscal years.
Pages 114 and 115
979,090
INDEPENDENT SCHOOL DISTRICT NO. 196
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual Basis of Accounting)
Fiscal Year
1999
General Fund
Reserved
Unreserved
Total General Fund
All other governmental funds
Reserved
Unreserved, reported in
Special revenue funds
Capital Projects – Building Construction Fund
Debt Service Fund
Total all other governmental funds
2000
2001
2002
2003
2004
2005
2006
2007
2008
15,800
13,992,533
$ 2,695,051
12,869,025
$ 6,181,631
26,477,494
$ 8,993,143
31,284,900
$ 8,126,549
39,561,620
$ 9,173,445
38,611,262
$ 8,792,607
29,195,535
$ 8,325,259
21,909,176
$ 6,541,509
26,868,617
$ 6,554,348
34,285,964
$ 14,008,333
$ 15,564,076
$ 32,659,125
$ 40,278,043
$ 47,688,169
$ 47,784,707
$ 37,988,142
$ 30,234,435
$ 33,410,126
$ 40,840,312
$ 46,395,495
$ 27,426,910
$ 43,260,007
$ 43,436,083
$ 35,725,646
$ 17,444,442
$ 44,163,808
$ 24,097,996
$ 16,141,199
$ 11,476,258
955,438
–
6,248,801
1,016,665
2,602,460
7,066,259
1,439,066
–
5,682,445
1,927,249
–
7,350,087
$ 53,599,734
$ 38,112,294
$ 23,262,710
$ 20,753,594
$
1,346,998
(747,980)
6,366,328
$ 50,225,353
1,814,477
(874,876)
6,251,887
$ 50,627,571
1,973,399
(995,964)
4,692,737
$ 41,395,818
Pages 116 and 117
1,948,741
(1,626,265)
4,388,850
$ 22,155,768
1,943,576
(1,340,420)
3,592,026
$ 48,358,990
1,286,659
(418,812)
4,056,330
$ 29,022,173
INDEPENDENT SCHOOL DISTRICT NO. 196
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual Basis of Accounting)
Revenues
Local sources
Taxes
Investment earnings
Other
State sources
Federal sources
Total revenues
Expenditures
Current
Administration
District support services
Elementary and secondary
regular instruction
Vocational education instruction
Special education instruction
Instructional support services
Pupil support services
Sites and buildings
Fiscal and other fixed cost
programs
Food service
Community service
Capital outlay
Debt service
Principal
Interest and fiscal charges
Total expenditures
Excess of revenues over (under) expenditures
Other financing sources (uses)
Transfers in
Transfers out
Refunding debt issued
Bonds issued
Premium on bonds issued
Discount on bonds issued
Payments to refunded bond
escrow agent
Capital leases and other loans
Sales of capital assets
Total other financing sources (uses)
Net change in fund balances
Debt service as a percentage of noncapital
expenditures
1999
2000
2001
$ 57,088,813
3,101,163
11,085,349
112,259,912
4,434,498
187,969,735
$ 55,878,344
3,921,997
12,170,877
127,653,557
4,094,494
203,719,269
$ 56,491,107
4,046,169
14,427,807
144,650,443
5,359,149
224,974,675
8,072,959
6,267,864
8,245,235
6,472,834
83,554,594
2,571,572
21,358,799
9,755,994
11,979,271
22,194,405
Fiscal Year
2002
2003
2004
2005
2006
2007
2008
$ 64,028,857
3,368,182
15,109,674
146,382,729
6,430,185
235,319,627
$ 44,021,242
2,584,667
17,082,029
191,719,928
6,882,263
262,290,129
$ 59,083,626
2,064,033
17,138,848
176,093,759
8,646,091
263,026,357
$ 46,953,129
2,767,137
17,376,867
191,893,914
9,263,885
268,254,932
$ 39,377,763
4,133,353
19,987,729
212,166,538
9,508,742
285,174,125
$ 74,065,528
4,525,997
20,512,946
202,416,935
10,263,367
311,784,773
$ 74,697,557
3,961,904
21,182,866
216,030,229
11,896,836
327,769,392
8,147,570
6,857,812
7,967,812
7,268,490
9,639,664
8,568,603
9,735,101
8,985,685
9,764,833
7,328,083
9,930,846
6,986,387
9,647,124
7,570,746
10,293,805
8,012,337
91,133,730
2,836,447
23,219,835
8,182,572
12,760,610
18,022,122
91,943,636
2,541,187
25,382,961
8,919,097
12,905,531
16,675,027
100,497,328
2,744,907
28,810,111
9,858,756
13,109,586
16,756,694
112,501,071
2,946,866
33,519,406
9,929,903
19,198,576
18,202,750
117,910,661
2,947,151
37,931,352
10,371,610
15,410,207
18,145,873
123,554,056
3,145,684
43,817,566
11,045,046
17,524,847
17,865,811
128,580,799
3,063,062
46,752,194
11,538,175
19,163,704
20,399,004
132,069,330
3,136,167
50,942,815
12,745,304
19,406,860
19,173,883
138,688,332
3,501,957
52,056,253
16,489,090
19,977,362
25,540,858
410,926
6,151,812
5,119,368
1,641,591
349,816
6,736,590
5,018,356
3,510,624
486,249
7,818,529
5,771,793
3,791,811
525,633
7,917,466
6,167,148
4,683,293
673,507
7,938,974
6,477,815
6,037,107
651,645
8,697,590
5,956,082
6,838,507
749,823
8,976,737
5,910,474
19,373,009
755,136
9,622,671
6,874,186
36,743,734
698,075
9,932,991
7,591,026
17,303,531
420,089
10,153,258
8,125,587
11,970,869
11,536,479
7,738,019
198,353,653
14,941,929
8,491,090
209,921,790
13,162,666
7,214,765
211,618,634
14,161,141
7,085,656
227,554,021
14,969,657
6,530,644
257,134,543
15,468,091
5,345,614
264,395,169
15,487,305
4,866,574
289,409,848
16,990,392
5,960,809
323,361,099
18,976,990
5,196,882
314,391,724
17,269,095
4,625,339
327,124,231
(21,154,916)
(38,186,974)
(2,606,951)
–
–
–
–
–
–
–
–
–
37,500,000
61,573
–
–
–
3,885,000
20,125,000
584,157
–
–
–
3,958,369
–
–
–
6,766,236
(6,766,236)
11,085,000
–
474,801
–
–
82,500
17,800
100,300
–
–
–
37,561,573
(15,225,000)
1,719,548
7,745
11,096,450
(3,944,519)
–
9,329
23,179
(11,570,000)
4,280,000
6,108
4,275,909
$ 16,406,657
$ (27,090,524)
7.5%
8.0%
(10,383,918)
(6,202,521)
13,356,041
7,765,606
5,155,586
95,606
(95,606)
25,535,000
–
–
(1,097,582)
33,488
(33,488)
–
8,560,000
–
(111,485)
–
–
14,960,000
–
877,067
–
–
–
–
–
–
–
–
–
–
–
–
–
–
7,472,808
–
31,910,226
(18,500,000)
2,322,309
–
(7,729,176)
–
–
15,000
15,852,067
–
188,923
66,607
255,530
(7,300,000)
–
322,787
(6,977,213)
$ 21,526,308
$ (13,931,697)
$ 29,208,108
8,021,136
$ (1,821,627)
9.8%
11.4%
9.8%
$
9.5%
8.6%
Pages 118 and 119
(1,368,812)
$
(1,268,512)
8.1%
$
(2,583,772)
8.1%
645,161
$
4,921,070
6.9%
INDEPENDENT SCHOOL DISTRICT NO. 196
Tax Capacity and Estimated Market Value of Property
Last Ten Fiscal Years
Tax Collection
Calendar Year
1999
Real and
Personal Property
$
104,901,771
Fiscal Disparities
Contribution
Tax Increment
Tax Capacity (1)
Tax Rate Determining
Value Subtotal
Percent
Increase
(Decrease)
Amount
$
$
$
(10,650,704)
(2,235,802)
92,015,265
2.3
%
Fiscal Disparities
Distribution
Total Tax Capacity
$
$
10,735,249
Referendum Market Value
Percent
Increase
Amount
102,750,514
$ 6,275,146,132
7.9
2000
113,625,096
(11,526,433)
(1,851,952)
100,246,711
8.9
12,273,874
112,520,585
6,867,240,180
9.4
2001
128,484,348
(12,944,668)
(2,191,796)
113,347,884
13.1
14,234,488
127,582,372
7,696,953,500
12.1
2002
101,001,224
(8,591,686)
(1,962,042)
90,447,496
(20.2)
9,836,660
100,284,156
8,577,944,050
11.4
2003
112,267,754
(9,212,942)
(2,266,855)
100,787,957
11.4
10,989,543
111,777,500
9,694,132,900
13.0
2004
125,394,699
(9,898,525)
(2,612,232)
112,883,942
12.0
12,185,113
125,069,055
10,980,308,400
13.3
2005
141,164,544
(10,765,722)
(3,048,762)
127,350,060
12.8
12,716,437
140,066,497
12,442,495,600
13.3
2006
158,106,311
(11,366,546)
(3,659,382)
143,080,383
12.4
13,616,888
156,697,271
13,957,795,062
12.2
2007
172,644,203
(12,302,917)
(4,263,378)
156,077,908
9.1
15,169,829
171,247,737
15,169,386,575
8.7
2008
179,462,003
(13,972,061)
(4,549,883)
160,940,059
3.1
17,418,603
178,358,662
15,685,495,575
3.4
(1)
Tax capacity is calculated by applying class rates (for specific property classifications such as residential, commercial, etc.) to the assessed market value. Class rates are periodically changed by the
Source:
Dakota County Department of Property Tax and Public Records
Pages 122 and 123
%
INDEPENDENT SCHOOL DISTRICT NO. 196
Property Tax Rates
Direct and Overlapping (1) Governments
Last Ten Fiscal Years
Rate
Year
Collectible
General Fund
Independent School District No. 196
Community
Service Special
Debt
Service Fund
Revenue Fund
Overlapping Rates, Municipalities, and Townships
Total
Apple Valley
Burnsville
Coates
Eagan
Inver Grove
Heights
Tax capacity rate
Market value rate
1999
1999
39.616 %
0.081
1.027 %
–
15.668 %
–
56.311 %
0.081
32.287 %
–
29.548 %
–
20.222 %
–
24.682 %
–
25.733 %
–
Tax capacity rate
Market value rate
2000
2000
38.129
0.120
0.999
–
14.103
–
53.231
0.120
29.019
–
29.075
–
22.560
–
24.458
–
25.215
–
Tax capacity rate
Market value rate
2001
2001
38.673
0.006
0.997
–
13.579
–
53.249
0.006
31.320
–
29.204
–
23.929
–
24.322
–
25.098
–
Tax capacity rate
Market value rate
2002
2002
11.947
0.179
1.292
–
15.644
–
28.883
0.179
45.942
–
29.204
–
28.405
–
33.043
–
44.637
–
Tax capacity rate
Market value rate
2003
2003
10.962
0.161
1.293
–
15.383
–
27.638
0.161
41.578
–
41.074
–
25.287
–
29.912
0.020
40.890
–
Tax capacity rate
Market value rate
2004
2004
11.377
0.140
1.293
–
15.383
–
26.074
0.140
39.610
0.014
38.928
–
23.476
–
28.702
0.019
39.904
–
Tax capacity rate
Market value rate
2005
2005
11.177
0.109
1.210
–
13.864
–
26.251
0.109
36.753
0.109
38.004
–
19.117
–
28.186
0.019
37.347
–
Tax capacity rate
Market value rate
2006
2006
11.780
0.224
1.095
–
14.679
–
27.554
0.224
35.690
0.018
35.414
–
17.908
–
28.293
0.017
37.654
–
Tax capacity rate
Market value rate
2007
2007
10.623
0.208
0.944
–
12.040
–
23.607
0.208
34.891
0.017
34.564
–
16.971
–
25.232
0.016
36.514
–
Tax capacity rate
Market value rate
2008
2008
10.146
0.213
0.793
–
10.197
–
21.136
0.213
35.537
0.017
35.005
–
15.252
–
25.892
0.015
37.403
–
(1)
Overlapping rates are those of local and county governments that apply to property owners within the District. Not all overlapping rates apply to all the District’s property owners (e.g., the rates for special districts apply only to the
proportion of the District’s property owners whose property is located within the geographic boundaries of the special district).
(2)
The miscellaneous other levy includes the Metropolitan Council, Mosquito Abatement, Transit District, CDA, HRA, and Light Rail. These miscellaneous levies vary slightly between municipalities.
Source: Dakota County Department of Property and Public Records
(continued)
Pages 124 and 125
INDEPENDENT SCHOOL DISTRICT NO. 196
Property Tax Rates
Direct and Overlapping (1) Governments (continued)
Last Ten Fiscal Years
Overlapping Rates, Municipalities, and Townships (continued)
Rate
Year
Collectible
Lakeville
Rosemount
Empire
Township
Vermillion
Township
Total Direct and Overlapping Rates
Dakota County
Miscellaneous
Other (2)
Apple Valley
Resident
Eagan Resident
Rosemount
Resident
Tax capacity rate
Market value rate
1999
1999
19.119 %
–
41.710 %
–
25.124 %
–
16.763 %
–
28.322 %
–
3.261 %
–
120.181 %
–
112.576 %
–
129.604 %
–
Tax capacity rate
Market value rate
2000
2000
19.466
–
39.335
–
29.121
–
14.614
–
27.247
–
4.103
–
113.627
–
109.066
–
123.943
–
Tax capacity rate
Market value rate
2001
2001
20.079
–
36.553
–
34.230
–
14.587
–
25.320
–
3.941
–
113.830
–
106.832
–
119.063
–
Tax capacity rate
Market value rate
2002
2002
34.545
–
59.549
–
38.108
–
21.329
–
33.102
–
5.021
–
112.948
–
100.049
–
126.555
–
Tax capacity rate
Market value rate
2003
2003
32.944
0.009
51.123
–
32.463
–
18.299
–
32.463
0.009
5.225
–
106.904
–
95.238
–
122.449
–
Tax capacity rate
Market value rate
2004
2004
30.050
0.007
52.368
–
30.439
–
16.449
–
30.300
0.008
4.925
–
101.112
–
90.001
–
113.870
–
Tax capacity rate
Market value rate
2005
2005
31.326
0.006
46.041
0.010
29.553
–
14.339
–
27.754
0.007
5.729
–
96.487
–
87.611
–
105.775
–
Tax capacity rate
Market value rate
2006
2006
31.610
0.008
43.755
0.008
24.473
–
12.468
–
26.318
0.006
5.344
–
94.818
–
85.192
–
102.883
–
Tax capacity rate
Market value rate
2007
2007
31.583
0.007
42.521
0.007
28.244
–
11.052
–
25.127
0.005
5.116
–
88.741
0.231
79.082
0.229
96.371
0.220
Tax capacity rate
Market value rate
2008
2008
34.195
0.007
42.440
0.006
25.452
–
17.820
–
25.184
0.005
4.393
–
86.250
0.235
76.605
0.233
93.153
0.224
Pages 126 and 127
INDEPENDENT SCHOOL DISTRICT NO. 196
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
Fiscal Year
General
Obligation Bonds
1999
$ 129,072,391
2000
118,657,464
64,325,000
2,890,000
245,497
2001
161,875,000
70,200,000
2,480,000
2002
159,490,000
59,675,000
2003
147,295,000
2004
Refunding Bonds
$
74,410,000
Capital Notes
$
–
State
Energy Loans
$
388,088
Special
Assessments
$
Capital Leases
3,043,763
$
Total
Percentage
of Personal
Income (1)
13,140,280
$ 220,054,522
–
14,992,014
201,109,975
0.02
1,584
196,398
–
14,413,447
249,164,845
0.02
1,889
2,070,000
336,221
–
13,621,406
235,192,627
0.02
1,735
50,855,000
1,705,000
230,132
–
12,837,838
212,922,970
0.01
1,530
119,315,000
46,820,000
1,395,000
124,043
–
12,008,336
179,662,379
0.01
1,266
2005
144,130,000
40,970,000
1,155,000
17,954
–
11,127,120
197,400,074
0.01
1,357
2006
139,310,000
39,175,000
945,000
15,389
–
11,468,841
190,914,230
N/A
1,302
2007
127,595,000
33,480,000
750,000
12,824
–
10,225,985
172,063,809
N/A
1,170
2008
115,215,000
29,730,000
560,000
10,259
–
13,074,455
158,589,714
N/A
1,073
N/A – Not Available
(1)
See the Schedule of Demographic and Economic Statistics on page 136 for Dakota County personal income and the District’s population data.
Note:
Details regarding the District’s outstanding debt can be found in the notes to basic financial statements.
Pages 130 and 131
0.02 %
Per Capita (1)
$
1,772
INDEPENDENT SCHOOL DISTRICT NO. 196
Legal Debt Margin Information
Last Ten Fiscal Years
Debt limit
Total net debt applicable to limit
Legal debt margin
Total net debt applicable to limit
as a percentage of debt limit
1999
2000
2001
$ 761,278,793
$ 858,935,255
$ 1,006,170,847
152,829,086
153,489,544
$ 608,449,707
$ 705,445,711
20.08%
17.87%
Fiscal Year
2002
2003
2004
2005
2006
2007
2008
$ 1,170,088,956
$ 1,940,355,035
$ 2,148,003,141
$ 2,341,334,557
$ 2,545,089,167
$ 2,567,661,288
$ 2,606,351,859
187,088,301
173,922,466
161,574,585
147,580,338
167,181,975
171,405,883
152,240,600
134,252,908
$ 819,082,546
$ 996,166,490
$ 1,778,780,450
$ 2,000,422,803
$ 2,174,152,582
$ 2,373,683,284
$ 2,415,420,688
$ 2,472,098,951
18.59%
14.86%
8.33%
6.87%
7.14%
6.73%
5.93%
5.15%
Legal Debt Margin Calculation for Fiscal Year 2008
Estimated market value – 2008
Debt limit (15% of market value)
Debt applicable to limit
General obligation bonds and capital notes
Less amount set aside for repayment of
general obligation debt
Total net debt applicable to limit
Legal debt margin
Note:
$ 17,375,679,060
2,606,351,859
145,505,000
(11,252,092)
134,252,908
$ 2,472,098,951
Under state finance law, the District’s outstanding general obligation debt should not exceed 15 percent of total market property value. By law, the general obligation debt subject to the limitation may be offset by amounts set aside for the
Source: Dakota County Department of Property Tax and Public records
Pages 134 and 135
INDEPENDENT SCHOOL DISTRICT NO. 196
Employees by Classification
Last Ten Fiscal Years
1999
Administrators/principals (1)
Supervisors/special staff
Teachers/nurses
Clerical
Building chiefs and custodians
Food service
Truck drivers/mechanics/bus driver
Non-licensed specialists
Total
2000
2001
Fiscal Year
2002
2003
2004
2005
2006
2007
2008
87
53
2,104
702
178
144
239
23
98
52
2,307
747
189
154
246
24
90
54
2,257
762
185
129
230
35
91
53
2,458
838
184
163
208
24
90
53
2,549
923
211
176
222
34
93
55
2,535
916
194
166
244
33
91
57
2,366
903
182
167
247
35
94
58
2,685
1,101
208
201
271
32
99
60
2,351
1,052
228
209
270
42
103
64
3,002
1,165
261
248
297
45
3,530
3,817
3,742
4,019
4,258
4,236
4,048
4,650
4,311
5,185
(1)
District office cabinet, principals, secondary school building assistant principals, and principals on special assignment.
Note:
This schedule is a headcount based on assignment – if an employee has multiple assignments, they are reflected multiple times.
Source: ISD No. 196 – Human Resources Department – Query of the HRPAY system
Pages 138 and 139
INDEPENDENT SCHOOL DISTRICT NO. 196
Operating Indicators
Standardized Testing and Graduation Rates
Last Six Fiscal Years
Fiscal Year
2003
2004
2005
2007
2006
2008
Standardized tests
MAT7 reading (1)
Grade 3
Grade 5
Grade 8
83 %
86
84
– %
–
–
– %
–
–
– %
–
–
– %
–
–
– %
–
–
MAT7 math (1)
Grade 3
Grade 5
Grade 8
84 %
92
89
– %
–
–
– %
–
–
– %
–
–
– %
–
–
– %
–
–
MCA-II reading (2)
Grade 3
Grade 4
Grade 5
Grade 6
Grade 7
Grade 8
Grade 10
81 %
–
87
–
–
–
93
80 %
–
84
–
80
–
89
87 %
–
90
–
83
–
90
89 %
86
86
82
74
75
78
86 %
81
83
71
77
71
74
85 %
79
84
76
72
76
82
MCA-II math (2)
Grade 3
Grade 4
Grade 5
Grade 6
Grade 7
Grade 8
Grade 11
80 %
–
84
–
–
–
90
82 %
–
85
–
80
–
83
88 %
–
91
–
84
–
83
86 %
80
69
67
63
64
44
87 %
83
75
70
70
61
49
90 %
81
80
71
64
65
46
ACT
Average composite score
22.9
23.5
23.4
23.3
23.8
23.8
20
15
39
19
National Merit Scholars
Commended
Finalists and semifinalists
27
15
33
15
33
19
26
14
Attendance percentages (3)
Kindergarten
1st grade
2nd grade
3rd grade
4th grade
5th grade
6th grade
7th grade
8th grade
9th grade
10th grade
11th grade
12th grade
95.93 %
96.29
96.32
96.39
96.31
96.32
95.91
95.73
95.26
95.74
95.00
93.44
91.20
96.40 %
96.69
96.81
96.90
96.80
96.75
96.38
95.81
95.71
95.81
95.26
94.27
92.47
96.03 %
96.34
96.37
96.62
96.52
96.42
96.16
95.85
95.40
95.90
95.08
93.91
92.05
95.68 %
96.28
96.61
96.57
96.57
96.50
96.06
95.74
95.43
95.80
95.24
94.10
92.47
N/A %
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A %
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
95.38 %
95.83 %
95.57 %
95.61 %
94.60 %
94.50 %
96 %
88 %
97 %
89 %
96 %
90 %
94 %
91 %
95 %
N/A
95 %
N/A
All grades
Graduation data
District graduation rates
State graduation rate
N/A – Not Available
(1)
Percent of students scoring at or above proficiency on the Metropolitan Achievement Test: Seventh Edition. Use of Metropolitan Achievement Test: Seventh Edition was discontinued after the 2002–2003 school year.
(2)
Percent of students scoring at or above proficiency on the Minnesota Comprehensive Assessments (MCA); MCA-II replaced MCA-I in 2006.
(3)
Attendance information for the 2006–2007 school year will not be available until February 2008.
Source: State graduation rates obtained from the Minnesota Department of Education
Standardized testing results for the District are from the “Annual Report on Curriculum, Instruction, and Student Achievement,” prepared by the ISD No. 196 Teaching and Learning Department
Pages 140 and 141
INDEPENDENT SCHOOL DISTRICT NO. 196
Capital Asset Statistics by Program and Classification
Last Seven Fiscal Years
2002
Program
Administration
District support services
Elementary and secondary
regular instruction
Vocational education
Special education
Community education
Instructional support
Transportation
Food services
Sites and buildings
Sites and buildings – unallocated
Total program
Classification
Land
Land improvements
Building
Equipment
Eligible pupil transportation vehicle
Food service equipment
Property and equipment under
capital leases
Total classification
Construction in progress
Total classification and
construction in progress
Note:
$
51,698
1,361,988
2003
$
Fiscal Year
2005
2004
54,297
1,408,627
$
72,797
1,225,987
$
66,702
1,286,791
2006
$
141,342
1,180,667
2007
$
132,142
1,227,903
2008
$
147,409
1,025,661
2,560,379
40,445
30,615
49,815
257,192
6,887,381
1,501,988
–
284,237,642
2,609,729
50,926
62,952
54,756
219,572
9,147,691
1,713,485
1,155,489
286,733,845
2,391,987
81,192
84,171
46,761
183,777
8,867,002
1,706,012
1,327,231
289,597,959
2,397,333
94,868
141,194
54,710
196,698
9,282,064
1,691,344
1,522,753
293,449,598
2,514,297
116,952
191,810
60,355
183,376
10,020,266
1,672,695
1,784,792
298,721,129
2,484,307
126,666
212,067
68,350
159,086
10,807,062
1,728,313
1,959,012
299,131,493
2,496,662
154,190
228,326
59,378
232,944
11,780,723
1,947,582
2,153,834
337,772,769
$ 296,979,143
$ 303,211,368
$ 305,584,875
$ 310,184,056
$ 316,587,681
$ 318,036,400
$ 357,999,478
$
$
$
$
$
$
$
8,870,712
8,925,816
248,067,694
6,448,234
7,227,140
1,550,376
8,870,712
9,014,723
250,225,675
7,832,112
9,549,035
1,752,473
8,870,712
9,054,911
252,034,004
8,390,145
9,244,705
1,938,072
8,870,712
9,119,795
254,749,989
9,742,503
9,695,127
1,953,604
8,870,712
9,741,173
257,058,566
11,187,475
10,036,694
1,931,750
8,870,712
9,741,173
257,423,527
11,462,669
10,934,816
1,987,368
8,870,712
9,886,433
292,938,345
13,040,963
11,804,100
2,242,901
15,889,171
296,979,144
15,966,637
303,211,368
16,052,326
305,584,875
16,052,326
310,184,056
17,761,310
316,587,681
17,616,134
318,036,400
19,216,024
357,999,478
685,459
739,859
1,876,780
12,066,972
42,572,146
55,022,066
29,026,823
$ 297,664,603
$ 303,951,227
$ 307,461,655
$ 322,251,028
$ 359,159,827
$ 373,058,466
$ 387,026,301
The District implemented GASB Statement No. 34 in fiscal 2002. This information is not available for previous fiscal years.
Source: ISD No. 196 Finance Department
Pages 142 and 143
INDEPENDENT SCHOOL DISTRICT NO. 196
Expenditures per Student (Average Daily Membership)
Last Ten Fiscal Years
Fiscal Year
1999
Administration
$
District support services
2000
292
$
2001
292
$
2002
286
$
2003
279
$
2004
338
$
2005
345
$
2006
347
$
2007
355
$
2008
348
$
374
226
229
241
254
300
319
261
250
273
291
3,018
3,228
3,231
3,518
3,942
4,184
4,393
4,599
4,769
5,044
93
100
89
96
103
105
112
110
113
127
Special education instruction
772
822
892
1,009
1,175
1,346
1,558
1,672
1,839
1,893
Instructional support services
352
290
313
345
348
368
393
413
460
600
Pupil support services
433
452
453
459
673
547
623
685
701
727
Sites and buildings
802
638
586
587
638
644
635
730
692
929
15
12
17
18
24
23
27
27
25
15
Food service
222
239
275
277
278
309
319
344
359
369
Community service
185
178
203
216
227
211
210
246
274
296
59
124
133
164
212
243
689
1,314
625
435
696
830
716
744
753
739
724
821
873
796
Elementary and secondary regular instruction
Vocational education instruction
Fiscal and other fixed cost programs
Capital outlay
Debt service
Total expenditures
Average daily membership
Note:
$
7,165
27,683
$
7,435
28,234
$
7,436
28,460
$
7,966
28,564
$
9,010
28,539
Includes all governmental fund expenditures.
Source: Average daily membership from Minnesota Department of Education.
Pages 144 and 145
$
9,382
28,182
$
10,290
28,124
$
11,566
27,957
$
11,352
27,694
$
11,898
27,494
INDEPENDENT SCHOOL DISTRICT NO. 196
Food Service
School Lunch Program Data
Last Ten Fiscal Years
Participation
as a Percentage
of Average Daily
Attendance
Year Ended
June 30,
Average Daily
Attendance (1)
Total
Lunches
Served
1999
23,651
2,036,467
176
11,571
48.9 %
211,534
2000
24,587
2,181,837
177
12,327
50.1
203,167
2001
24,152
2,202,257
174
14,317
59.3
2002
24,274
2,204,826
175
12,599
2003
24,322
2,278,242
175
2004
24,308
2,381,418
2005
24,113
2006
Days
Average Daily
Participation
Free Lunch
Number
Served
4.5 %
9.3
94,777
4.3
196,983
7.9
99,772
4.0
51.9
229,731
10.4
99,328
4.5
13,019
53.5
262,370
11.5
104,774
4.6
173
13,765
56.6
299,685
12.6
103,352
4.3
2,438,240
174
14,013
58.1
338,548
13.9
119,238
4.9
24,551
2,417,581
174
13,894
56.6
370,837
15.3
129,527
5.4
2007
24,212
2,513,074
174
14,443
59.7
389,665
15.5
141,518
5.6
2008
24,011
2,556,827
175
14,610
60.8
418,004
16.3
156,800
6.1
Attendance is deemed to be 95 percent of enrollment.
Source: ISD No. 196 Summary: Food Service Statistics Reports
Pages 146 and 147
10.4 %
Reduced Lunch
Number
Percent
Served
of Total
92,257
.
(1)
Percent
of Total
INDEPENDENT SCHOOL DISTRICT NO. 196
School Facilities
as of June 30, 2008
Facility
Use
Constructed
Elementary schools
Cedar Park
Deerwood
Diamond Path
Echo Park
Glacier Hills
Greenleaf
Highland
Northview
Oak Ridge
Parkview
Pinewood
Red Pine
Rosemount
Shannon Park
Southview
Thomas Lake
Westview
Woodland
School
School
School
School
School
School
School
School
School
School
School
School
School
School
School
School
School
School
1977
1987
1970
1979
1993
1975
1986
1960
1991
1970
1990
1995
1960
1990
1967
1979
1964
1988
16.64
(3a)
40.00
16.29
15.01
30.40
(3b)
39.50
9.95
13.00
17.31
13.09
(3c)
13.50
(3d)
15.00
18.00
18.43
29
35
39
45
39
50
43
37
45
39
44
47
38
47
46
34
41
37
69,678
77,060
78,596
83,824
80,017
84,530
85,497
67,743
80,000
77,165
85,328
88,784
73,251
83,936
74,209
66,312
70,124
81,759
595
595
725
790
680
835
725
705
680
680
815
815
660
770
790
595
725
680
526.80
492.87
634.26
764.79
505.82
863.19
632.16
538.31
608.53
692.47
732.61
885.57
630.22
787.52
732.36
446.49
573.03
484.62
Middle schools
Black Hawk
Dakota Hills
Falcon Ridge
Rosemount
Scott Highlands
Valley
School
School
School
School
School
School
1994
1989
1996
1918
1979
1972
38.81
(3e)
32.46
(3c)
40.00
32.74
71
64
73
61
60
60
198,534
223,560
197,014
172,796
165,167
186,598
1,200
1,300
1,200
1,055
1,030
1,165
1,025.55
1,269.76
1,152.22
1,172.72
840.82
991.67
High schools
Apple Valley
Eagan
Eastview
Rosemount
School of Environmental Studies
School
School
School
School
School
1976
1990
1997
1963
1995
80.00
94.00
54.00
120.13
12.25
83
87
97
91
53
360,104
382,970
338,242
401,989
71,171
1,990
2,040
2,015
2,015
400
2,099.90
2,328.14
2,229.99
2,056.31
–
School
School
Special/Early Child Education
Early Child/Adult Education
2006
1997
1995
1994
N/A
(3f)
N/A
N/A
18
26
N/A
N/A
18,420
50,338
22,939
13,744
310
160
200
N/A
288.32
71.57
220.74
32.91
Office
Office/Maintenance/Warehouse
Office
1972
1972
1989
40.00
(3f)
9.50
N/A
N/A
N/A
23,937
28,964
18,677
N/A
N/A
N/A
–
–
–
Area Learning Center and Transition Plu
Dakota Ridge
Early Childhood Learning Center
Rahncliff Learning Center
District Office
District Office Annex
District Office East
Acres
Classrooms (1)
Square Footage
Capacity
Enrollment (2)
N/A – Not Available
(1)
All rooms dedicated for instructional purposes including regular classrooms, portable classrooms, computer labs, art rooms, band/choir/music rooms, special services rooms, science rooms, F.A.C.S. rooms, and industrial technology rooms.
(2)
Enrollment is defined as the adjusted ADMs served excluding resident students tuitioned out to other Minnesota school districts. Students served by the school of environmental studies are included in the students’ home high school.
(3)
Joint sites
(a) with Black Hawk Middle School
(b) with Scott Highlands Middle School
(c) with Rosemount High School
(d) with Valley Middle School
(e) with Eagan High School
(f) with District Office
Source: Building square footage totals are based on Minnesota Department of Education March 5, 2008 Building Age Report; enrollment based on Minnesota Department of Education September 22, 2008 School ADM Served Report. Years of construction and acreages based on
district property records.
Pages 148 and 149