42
35E
Portland Ave.
Southcross Dr .
Burnsville
35W
35W
2
11
77
2
30
16
Rahn Rd .
7
6
42
32
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od
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35
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40
Cliff Rd.
Eagan
Diffley Rd.
18
160th St .
Rd
11
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21 31
33
10 23
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Ca v e .
A
3
42
3
3
135th St .
Inver
Grove
Heights
55
160th St .
42
Empire Township
Rosemount
3
9
8
Elrene
Rd.
149
145th St .
ie
N orthv w P a rk R d.
We scott Rd.
15
Yankee Doodle Rd .
Lone Oak Rd.
k
n
an
on
G
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Av
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Map also available at http://www.district196.org/maps/
Lakeville
1
4
24
Apple Valley
22
d .
13
20 1
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McAnd
34
Minn.
Zoo
Johnny Cake Rd .
3 132nd St .
3
140th St .
Whitney Dr .
14
P a lo
25
12
35E
Garden V iew Dr .
.
ve
C e da r A
Deerwood Dr .
Pilot Knob Rd .
(2010-11)
c a go A v
C hi
e.
m
ino
Dr
.
Hayes Rd.
35E
Diamond Path
District Map
Cedar Ave.
Thomas
Lake Rd .
Lexington Ave.
Shannon Pkwy .
Educating our students to reach their full potential
Galaxie Ave.
Dodd Rd .
Rosemount-Apple Valley-Eagan Public Schools
Barnes Av e.
Blaine Ave.
INDEPENDENT SCHOOL DISTRICT 196
Foliage Ave.
-xiiPilot Knob Rd .
.
d Rd
c
do
Akron Ave.
ad
Br
Dod
52
55
Co
55
Elementary Schools
Deerwood
Echo Park
Greenleaf
Highland
Northview
Oak Ridge
Parkview
Pinewood
Red Pine
Rosemount
Shannon Park
Southview
Thomas Lake
Westview
Woodland
ur
th
o
Ve rmillion
Township
56
eB
lv
us
d.
55
18 Glacier Hills School of
Arts and Science
Elementary Magnet
Schools
16 Cedar Park Science,
Tech., Engineering and
Math (STEM) School
17 Diamond Path School
of International Studies
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Coates
52
52
Courthouse Blvd .
Middle Schools
Black Hawk
Dakota Hills
Falcon Ridge
Rosemount
Scott Highlands
Valley
Adult Basic Education Grace Site
2
County Hwy .
State Hwy .
U.S. Hwy .
Interstate
Corporate boundar y
3 Rahncliff Learning Center
Early Childhood Learning Center
1
District Offices
Special Education School
40 Dakota Ridge
High Schools
Apple Valley
Eagan
Eastview
Rosemount
School of Environmental
Studies
35 Area Learning Center
30
31
32
33
34
20
21
22
23
24
25
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, 2011, 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, 2010, and in our report dated October 12, 2010, 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 consideration of internal control over financial reporting as a basis for
designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing
an opinion on the effectiveness of the District’s internal control over financial reporting. Accordingly, we
express no such opinion. An audit also includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements, assessing the accounting principles used, and the
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, 2011, and the respective changes in financial position and,
where applicable, cash flows 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 the basic financial statements, the District has implemented
Governmental Accounting Standards Board Statement No. 54, “Fund Balance Reporting and
Governmental Fund Type Definitions” during the year ended June 30, 2011.
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, 2010, from which it was derived.
(continued)
-1-1-
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, 2011
This section of Independent School District No. 196’s (the District) comprehensive annual financial
report (CAFR) presents management’s discussion and analysis of the District’s financial performance
during the fiscal year ended June 30, 2011. 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, 2011, the District shows an increase in total net assets from current year activities of
$9.75 million. There are many factors that have contributed to the decrease.
A few key financial highlights from the District’s basic financial statements for the 2010–2011 fiscal year
are listed below.

The assets of the District exceeded its liabilities at the close of the 2010–2011 fiscal year by
$158.36 million. Of this amount, $22.42 million (unrestricted net assets) may be used to meet the
District’s ongoing obligations.

The District’s total net assets increased by $9.75 million from current year activities. The
District’s investment in capital assets, net of related debt increased by $5.82 million, due in part
to the use of an available “alternate facilities levy” that allows the District to make significant
facility improvements without having to issue debt. Restricted net assets increased by
$1.58 million, mainly due to budget savings for approved projects and conservative budgeting
practices. The unrestricted portion of the District’s net assets increased by $2.35 million. This
increase is mainly due to budget savings experienced in the District’s General Fund. District
budget administrators continue to monitor their budgets closely and adjust their programs and
spending accordingly.

As of June 30, 2011, the District’s governmental funds reported a combined ending fund balance
of $45.12 million, a net increase of $0.54 million in comparison with the prior year.
Approximately 51.97 percent of this total amount, $23.45 million, is unrestricted – unassigned
fund balance.

At the close of the 2010–2011 fiscal year, unrestricted – unassigned fund balance for the General
Fund was $23.54 million, or 8.29 percent, of total General Fund expenditures.

The District’s long-term liabilities decreased by $10.95 million, or 6.20 percent, during the
current fiscal year. The key factors in this change were: a net decrease of outstanding bonds and
capital notes payable (net of discounts) of $13.01 million, a decrease of $2.25 million in capital
lease obligations, an increase of $2.71 million in certificates of participation, and an increase of
$1.60 million in net other post-employment benefit (OPEB) obligations, severance and vacation
payable.
-3-
OVERVIEW OF THE FINANCIAL STATEMENTS
The financial section of the CAFR consists of the following:

Independent Auditor’s Report;

Management’s Discussion and Analysis (MD&A);

Basic financial statements, including the government-wide financial statements, fund financial
statements, and the notes to basic financial statements;

Required supplementary information; 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 Fund Statements – Governmental fund 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 Fund Statements – Proprietary fund statements offer short-term and longterm financial information about the activities the District operates like businesses.
3. Fiduciary Fund Statements – Fiduciary fund 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.
-4-
Figure 1 depicts how the various parts of this CAFR are arranged and their relationship to one another.
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
during the year, regardless
information
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 OPEB.

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.
-7-
Net Assets – The District’s combined net assets were $158.36 million on June 30, 2011. This is an
increase of $9.75 million, or 6.56 percent, from the previous year total of $148.62 million. (See Table 1)
Table 1
Net Assets – Governmental Activities
Percent Change
2010 to 2011
2011
2010
Current and other assets
Capital assets
$ 192,123,501
228,074,785
$ 211,768,838
233,047,602
(9.28%)
(2.13%)
Total assets
$ 420,198,286
$ 444,816,440
(5.53%)
$
165,684,331
96,150,679
$ 176,638,409
119,560,749
(6.20%)
(19.58%)
$ 261,835,010
$ 296,199,158
(11.60%)
$ 125,050,825
10,896,584
22,415,867
$ 119,230,936
9,318,663
20,067,683
4.88%
16.93%
11.70%
$ 158,363,276
$ 148,617,282
6.56%
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 (78.97 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 (6.88 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 (14.15 percent) may be used to meet the District’s ongoing
obligations.
The $9.75 million increase in net assets is a result of many factors. Some of the major ones are listed
below:

In 2010–2011, capital assets, net of related debt, increased by $5.82 million. This increase is
mainly due to the use of “alternative facilities levy” to make facility improvements without
having to issue debt.

An increase of $3.64 million in investment income from short-term investments in the OPEB
Trust and favorable market returns.

A planned draw from the OPEB Trust of $1.31 million to reimburse the operating funds for a
portion of subsidized health benefits for retirees.
-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
2010
$ 19,383,833
48,184,008
52,688
$ 18,793,534
45,687,662
37,444
103,752,574
157,855,931
7,384,667
336,613,701
74,585,923
183,031,690
3,701,048
325,837,301
39.10%
(13.75%)
99.53%
3.31%
11,180,500
8,294,596
147,871,836
3,771,098
56,254,830
13,330,690
22,136,945
25,708,804
480,313
10,846,263
9,231,014
9,918,941
7,841,877
326,867,707
12,497,969
8,540,817
150,566,426
3,540,400
55,603,648
14,365,141
20,712,281
26,723,703
475,935
10,782,848
9,093,156
9,814,728
7,825,797
330,542,849
(10.54%)
(2.88%)
(1.79%)
6.52%
1.17%
(7.20%)
6.88%
(3.80%)
0.92%
0.59%
1.52%
1.06%
0.21%
(1.11%)
Increase in net assets
Net assets – beginning
Net assets – ending
Percent Change
2010 to 2011
2011
9,745,994
(4,705,548)
148,617,282
153,322,830
$ 158,363,276
$ 148,617,282
3.14%
5.46%
40.71%
307.12%
Changes in Net Assets – The District’s total revenues were $336.61 million for the year ended June 30,
2011. This is an increase of $10.78 million, or 3.31 percent, from the 2009–2010 actual revenues of
$325.84 million.
For 2010–2011, property taxes and general grants and aids accounted for 77.72 percent of total revenue
for the year.
About 14.33 percent of the District’s revenue came from operating and capital grants. Fees and charges
for services accounted for 5.76 percent of the total revenue, while the remaining 2.19 percent came from
other general revenue, including investment income.
-9-
For 2010–2011, the total cost of all programs and services was $326.87 million. This is a decrease of
$3.68 million, or 1.11 percent, from the 2009–2010 total of $330.54 million.
As in past years, the bulk of the District’s resources (74.45 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 3.42 percent of total costs for the year. Total
revenues surpassed expenses, increasing the District’s net assets by $9.75 million.
Figure 3
Sources of Revenues for Fiscal Year 2011
Other
2.19%
General Grants and
Aids
46.90%
Charges for Services
5.76%
Operating Grants
and Contributions
14.31%
Property Taxes
30.82%
Capital Grants and
Contributions
0.02%
Figure 4
Expenses for Fiscal Year 2011
Instructional Support
Services
4.08%
Pupil Support
Services
6.77%
Sites and Buildings
7.87%
Special Education
Instruction
17.21%
Fiscal and Other
Fixed Cost Programs
0.15%
Food Service
3.32%
Community Service
2.82%
Vocational
Education
Instruction
1.15%
Elementary and
Secondary Regular
Instruction
45.24%
Unallocated
Depreciation
3.03%
District Support
Services
2.54%
-10-
Interest and Fiscal
Charges
2.40%
Administration
3.42%
The cost of all governmental activities for 2010–2011 was $326.87 million. Of this amount,
$67.62 million was supported by “charges for services, operating grants, or capital grants” received by the
schools. (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 $48.24 million, or 14.76 percent, of the total costs for
2010–2011.

About 5.93 percent, or $19.4 million, of costs were paid by the users of the District’s programs.

Finally, $7.38 million of district revenue came from investment earnings and other general
revenue.
Table 3
Net Cost of Governmental Activities
Net Cost of Services
2011
2010
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
$
11,179,507
8,077,481
135,365,867
2,940,093
22,074,269
13,212,253
20,380,218
25,457,041
480,313
(471,034)
2,790,352
9,918,941
7,841,877
$ 259,247,178
-11-
$
12,497,969
8,317,193
137,728,517
2,771,671
23,920,814
14,180,538
19,330,546
26,563,553
475,935
(333,941)
2,930,889
9,814,728
7,825,797
$ 266,024,209
Percent Change
2010 to 2011
(10.55%)
(2.88%)
(1.72%)
6.08%
(7.72%)
(6.83%)
5.43%
(4.17%)
0.92%
(41.05%)
(4.80%)
1.06%
0.21%
(2.55%)
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, 2011, the District’s governmental funds reported a combined fund balance of $45.12 million, an
increase of $0.54 million, or 1.22 percent, from last year’s ending fund balance of $44.58 million. This
net increase is chiefly due to the following factors:

In 2010–2011, actual expenditures and other financing uses were less than actual revenues and
other financing sources in the General Fund, Capital Projects – Building Construction Fund, Food
Service Special Revenue Fund, and Community Service Special Revenue Fund.

A planned draw from the OPEB Trust of $1.31 million to reimburse the operating funds for a
portion of subsidized health benefits for retirees.

For the 2010–2011 school year, the District accepted a debt service levy reduction calculated
based on the District’s accumulated reserve and its bond principal and interest payments for the
2010–2011 school year. The accumulated reserve was spent down to support bond principal and
interest payments due in 2010–2011.
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, 2011
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
2011
2010
$ 35,497,752
$ 35,035,006
1,518,901
4,697,250
41,713,903
Increase
(Decrease)
462,746
1.32%
863,244
5,290,924
41,189,174
655,657
(593,674)
524,729
75.95%
(11.22%)
1.27%
2,572,718
833,714
3,406,432
2,562,797
824,773
3,387,570
9,921
8,941
18,862
0.39%
1.08%
0.56%
$ 45,120,335
$ 44,576,744
543,591
1.22%
-12-
$
Percent
Change
2010 to 2011
$
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 an
updated enrollment projection reviewed by the School Board in November 2010, it appears that
enrollment for the District will remain fairly stable.
The graph below (Figure 5) shows the District’s actual average daily membership (ADM) over the last
five years. Both elementary and secondary ADM for 2010–2011 decreased slightly from the previous
year. Preliminary enrollment data for the 2011–2012 school year shows a small increase over
2010–2011.
Figure 5
Students (Average Daily Membership)
30,000
25,000
20,000
15,000
10,000
5,000
–
2007
2008
2009
Elementary
-13-
Secondary
2010
2011
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
Amount of
Increase
(Decrease)
Year Ended June 30,
2011
2010
Revenues
Local sources
Property taxes
Interest earnings
Other
State sources
Federal sources
Total revenues
$
82,783,372
65,275
11,374,761
187,899,325
9,842,124
291,964,857
$
55,729,127
188,840
10,710,923
193,159,957
27,163,398
286,952,245
Other financing sources
Capital leases
Sale of capital assets
Total other financing sources
–
2,878
2,878
496,033
153,996
650,029
Total General Fund revenues
and other financing sources
$ 291,967,735
$ 287,602,274
$
$
Percent
Increase
(Decrease)
27,054,245
(123,565)
663,838
(5,260,632)
(17,321,274)
5,012,612
48.55%
(65.43%)
6.20%
(2.72%)
(63.77%)
1.75%
(496,033)
(151,118)
(647,151)
(100.00%)
(98.13%)
(99.56%)
4,365,461
1.52%
During 2010–2011, the District’s total General Fund revenues and other financing sources increased by
$4.37 million, or 1.52 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 due to the following factors:
1) During the 2010–2011 school year, the District collected $0.66 million more in student fees, such
as participation fees for cocurricular programs, admission fees to sports and fine art events, gifts,
and grants from local organizations/agencies.
2) The decrease in General Fund other financing sources is chiefly due to the prior year issuance of
three capital leases (two generators for Red Pine Elementary School and School of Environmental
Studies and four Chevy Vans).
3) The $27.05 million increase in property taxes is chiefly due to an increase in the property tax shift
percentage approved by the 2010 Legislature. This increase was offset by a reduction of the same
amount in state aid.
4) For the 2010–2011 school year, state and federal sources combined show a total decrease of
$22.58 million. Federal aid for the 2009–2010 school year included $16.04 million of ARRA
federal stimulus funds the state used to replace state funding reductions made by the Governor
when the 2009 Legislature failed to reach an agreement on K–12 education funding for the
2010–2011 biennium. In 2010–2011, state general education aid was restored to its pre-ARRA
federal stimulus funds level.
-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,
2011
2010
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
$ 186,950,265
58,982,969
21,056,658
8,756,369
4,257,947
4,066,221
284,070,429
$ 190,933,987
57,149,819
21,357,299
7,929,941
5,745,517
4,062,995
287,179,558
7,434,560
5,056,267
$ 291,504,989
$ 292,235,825
$
$
Percent
Increase
(Decrease)
(3,983,722)
1,833,150
(300,641)
826,428
(1,487,570)
3,226
(3,109,129)
(2.09%)
3.21%
(1.41%)
10.42%
(25.89%)
0.08%
(1.08%)
2,378,293
47.04%
(730,836)
(0.25%)
Total General Fund expenditures and other financing uses decreased $0.73 million, or 0.25 percent, from
the previous year.
In fiscal year 2010–2011, actual salaries were 2.09 percent less than the prior school year. This is mainly
due to budgeted staffing reductions.
Employee benefits increased $1.83 million, or 3.21 percent, from the previous school year. Health
insurance costs were higher due to premium increases passed on by the health care providers, number of
participants in the program, and their choice of coverage. District costs for OPEB also increased due to a
retirement incentive offered to retirees during the year.
Spending for capital items for the 2010–2011 fiscal year decreased by $1.49 million, or 25.89 percent.
The decrease is mainly due to schools not spending all of their capital expenditure allocations, and
savings from some health and safety and maintenance projects.
In 2010–2011, General Fund other financing sources increased by $2.38 million, or 47.04 percent. This
increase is chiefly due to an increase in the District’s alternative facility levy (used to support the
District’s major maintenance projects) transferred to the Capital Projects – Building Construction Fund.
For the 2009–2010 school year, the District did not levy the maximum alternative facility levy allowed by
the state.
In summary, 2010–2011 General Fund revenues and other financing sources exceeded expenditures and
other financing uses by $0.46 million. As a result, total fund balance increased by the same amount at
June 30, 2011. After deducting statutory restrictions and internal assignments, the unrestricted –
unassigned fund balance decreased from $24.17 million at June 30, 2010 to $23.54 million at June 30,
2011.
-15-
Figure 6 and Table 7 show the General Fund – Operating Account unrestricted – unassigned fund balance
as a percentage of expenditures.
Figure 6
General Fund – Operating Account
Unrestricted – Unassigned Fund Balance as a Percentage of Expenditures
$290,000,000
$280,000,000
$270,000,000
$260,000,000
$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
$–
9.63%
9.36%
2010
2011
Total Expenditures
Fund Balance
The graph, as shown in Figure 6 above, is the single best measure of the District’s overall financial health.
The unrestricted – unassigned fund balance of $24.23 million in the Operating Account of the General
Fund at June 30, 2011 represents 9.36 percent of annual operating account expenditures or slightly under
five 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
Unrestricted – Unassigned Fund Balance and Expenditures
Unrestricted – unassigned
fund balance
2010
2011
$ 25,175,620
$ 24,232,630
Percent increase (decrease)
Expenditures
N/A
$ 261,556,680
Percent increase (decrease)
Percent of fund balance to
expenditures
(3.75%)
$ 258,787,398
(10.03%)
(1.06%)
9.63%
9.36%
N/A – Not Available
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, 2010, and unspent funds carried over from fiscal year 2009–2010.

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 2010–2011.
Table 8
General Fund Budget
Increase
(Decrease)
Percent Change
Preliminary
to Final
Preliminary
Budget
Final Budget
Revenue and other
financing sources
$ 287,036,268
$ 291,256,997
$
4,220,729
1.47%
Expenditures and other
financing uses
$ 292,592,156
$ 302,166,985
$
9,574,829
3.27%
Net gain (loss)
$
$ (10,909,988)
$
(5,354,100)
(96.37%)
(5,555,888)
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 $10.91 million, the actual results for the year
show an excess of revenues and other financing sources over expenditures and other financing uses of
$0.46 million.

Actual revenues and other financing sources were about $0.71 million more than expected. This
is mainly due to higher than expected delinquent tax collections, admission and co-curricular
participation fees collected from students, and additional funds raised by the schools. Actual
federal aids received were lower than budget; federal reimbursements are based on actual
expenditures. The District did not spend all of its federal entitlements in 2010–2011; in most
cases the unspent entitlements can be carried over to the next school year.

Actual expenditures and other financing uses were $10.69 million, or 3.54 percent, lower than
budget. About half of the budget savings are in the area of employee salary and benefits. Some
of the programs that showed budget to actual savings include administration, district support
services, elementary and secondary regular instruction, and instructional support services.
Another 19.93 percent, or $2.13 million, of the savings is directly due to our schools not spending
all of their allocations. In 2010–2011, the District also under spent its purchased services and
supplies and materials budget; this is mostly likely a result of conservative budgeting practices.
CAPITAL PROJECTS – BUILDING CONSTRUCTION FUND
Fiscal year 2010–2011 is the seventh year after the passage of the June 2004, $68.00 million facilities
referendum. All of the planned building construction and facilities improvement projects are complete.
The funds remaining will be used to support School Board-approved capital projects.
The Capital Projects – Building Construction Fund revenues and other financing sources exceeded
expenditures by $0.66 million for the year ended June 30, 2011, resulting in an increase of the same
amount in the June 30, 2011 fund balance. The increase is mainly a result of the certificates of
participation issued by the District. The Capital Projects – Building Construction Fund balance shows a
fund balance of $1,518,901 as of June 30, 2011.
-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 2010–2011, approximately 95.24 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 2010–2011, the District’s total Debt Service Fund expenditures exceeded revenues by $0.59 million.
The June 30, 2011 Debt Service Fund balance totaled $4.70 million. Of this amount, $4.31 million is
available for regular debt service and the remaining $382,903 is reserved for OPEB debt service needs.
NONMAJOR FUNDS
Revenues and other financing sources in the nonmajor funds exceeded expenditures by $18,862.
Food Service Special Revenue Fund
The Food Service Special Revenue Fund revenues for 2010–2011 totaled $11.32 million and expenditures
were $11.31 million, resulting in an increase in the fund balance of $9,921. The June 30, 2011 Food
Service Special Revenue Fund balance is $2.57 million.
The 2010–2011 actual revenues were $197,772, or 1.78 percent, greater than the budgeted amount. This
increase is due to a combination of two factors. During the 2010–2011 school year, sales to students,
adults, and revenues from special functions were almost $38,000 less than budget, while federal aids for
the school lunch program were $249,171 more than projected. The increase in federal aid
reimbursements is mainly due to an increase in food commodities.
The actual 2010–2011 Food Service Special Revenue Fund expenditures were $713,119, or 5.93 percent,
lower than the budgeted amount. The savings is mainly due to three factors. During 2010–2011,
cafeteria workers’ salaries and other employee benefits such as health insurance exceeded budget by
$0.24 million; budgets for lunchroom supplies, U.S. Department of Agriculture commodities use, and
food and milk experienced a savings of $0.41 million. Actual capital expenditures, including building
improvements, equipment, and technology equipment were $0.46 million less than budget.
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 2010–2011, the total revenues and other financing sources for the Community Service Special Revenue
Fund were $9.09 million and the total expenditures were $9.08 million, resulting in an increase to fund
balance of $8,941. The Community Service Special Revenue Fund balance as of June 30, 2011 is
$833,714. Of this amount, $360,438 is restricted for community education, $341,468 is restricted for the
Adult Basic Education Program, $33,354 is restricted for the Early Childhood Family Education Program,
$98,364 is restricted for the School Readiness Program, and $90 is restricted for community services.
-19-
INTERNAL SERVICE FUNDS
The District maintains two internal service funds. The Severance Benefits Internal Service Fund is used
to pre-fund severance or retirement pay for eligible retirees. For 2010–2011, the revenues for this fund
include interest income from short-term investments and contributions paid from the District’s
governmental funds. The severance pay liabilities for the District on June 30, 2011 totaled
$12.14 million, and the net assets of the fund were a negative $2.76 million.
The OPEB Benefits Internal Service Fund accounts for assets contributed to a revocable trust used by the
District to finance its OPEB liabilities and the proceeds from the $37.44 million general obligation
taxable OPEB bonds issued in January 2009. The net OPEB obligation liability for the District at
June 30, 2011 was $9.92 million, and the net assets of the fund were $32.25 million. The net OPEB
obligation liability recorded in the fund represents the cumulative excess of the actuarially determined
annual required contributions over the actual OPEB costs paid by the District through the current
year-end. The District’s total unfunded actuarial accrued liability, as determined in its most recent
actuarial study dated July 1, 2010, was $45.15 million.
CAPITAL ASSETS AND DEBT ADMINISTRATION
CAPITAL ASSETS
By the end of 2011, the District has net capital assets of $228.07 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). Total depreciation expenses for the
year were $12.88 million.
During 2010–2011, the District invested a total of $8.34 million in buildings, furniture and equipment,
and construction in progress. Almost all of the capital investment can be attributed to major maintenance
and building improvement projects approved by the state and funded by alternative facility levy revenue;
and health and safety and operating capital revenues.
Table 9
Capital Assets
2011
Land
Land improvements
Buildings
Furniture and equipment
Construction in progress
Less accumulated depreciation
Total
$
8,870,712
10,826,510
335,841,641
43,721,943
3,748,287
(174,934,308)
$ 228,074,785
-20-
2010
$
8,870,712
10,421,635
333,947,512
42,780,879
1,059,415
(164,032,551)
$ 233,047,602
Percent Change
2010–2011
–
3.88%
0.57%
2.20%
253.81%
6.65%
(2.13%)
LONG-TERM LIABILITIES
At year-end, the District had $136.87 million in general obligation bonds, refunding bonds, capital notes,
certificates of participation, and state energy loans outstanding. This is a net decrease of $12.13 million
from the previous year, as shown in Table 10.

Outstanding bonds and capital notes show a net decrease of $14.83 million, mainly due to the
retirement of existing debt. The District continues to make required scheduled payments.

The District continued to pay down its debt, retiring $2.25 million of existing leases during the
year.

The District issued certificates of participation of $2.71 million during the year.
Table 10
Outstanding Long-Term Liabilities
General obligation bonds
General obligation refunding bonds
Capital notes
State energy loans
Capital leases payable
Certificates of participation
Severance benefits payable
Accrued vacation payable
Net OPEB obligation
Discount on bonds
2011
2010
$ 111,655,000
22,415,000
90,000
2,564
6,542,399
2,705,000
12,136,872
3,041,104
9,916,517
(2,820,125)
$ 123,615,000
25,150,000
225,000
5,129
8,794,032
–
12,678,000
2,975,535
7,837,352
(4,641,639)
$ 165,684,331
$ 176,638,409
-21-
Percent Change
2010 to 2011
(9.68%)
(10.87%)
(60.00%)
(50.01%)
(25.60%)
100.00%
(4.27%)
2.20%
26.53%
(39.24%)
(6.20%)
Bond Ratings
The District’s general obligation bonds carry a rating of
Aa1, upgraded by Moody’s Investors Service in
April 2010.
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
$13.82 billion for calendar year 2011 and the District’s
debt limit is $2.1 billion.
The District’s outstanding debt is significantly below this
limit. The District’s outstanding debt as of June 30, 2011
is $134.16 million. The amount that is applicable to the
debt limit calculation is $129.46 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
Similar to other states throughout the nation, the state of Minnesota has experienced major budget
shortfalls with expenditure outpacing revenues in recent years. The state’s financial difficulties have
resulted in state aid cuts, delays in state aid payment and property tax recognition shift to school districts.
The 2010–2012 biennium budget for the state was balanced using property tax shifts, one-time federal
stabilization funds, and additional delay in payments to schools. All of these in turn resulted in
significant challenges to school districts.
With the exception of the voter-approved operating referendum, the District is dependent on the state of
Minnesota for the majority of its revenue authority. Recent experience has demonstrated that legislated
revenue levels have been insufficient to meet instructional program needs and increased costs due to
inflation. Similar to 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 provides
the District with a 10-year levy; the District began to collect the revenue in 2006–2007. Until recently,
the District had been able to use the additional revenue to avoid significant budget or program reductions
as experienced by other school districts in the state.
Over the past two school years, the District had to reduce its General Fund budget by $25 million; the
budget adjustments approved by the School Board for the 2011–2012 school year totaled $8.5 million;
$3.4 million in budget adjustments; and $5.0 million in one-time Federal Education Jobs Funds that
became available in fall 2010.
-22-
The 2011 Legislature adjourned its regular session on May 23, 2011 without a K–12 education funding
bill; an agreement was reached in July 2011 after a three-week state shutdown. The agreement called for
a $50, or a 1 percent, increase in per pupil funding for general education for the 2011–2012 school year,
and another 1 percent or $50 increase in 2012–2013. The agreement also included more state aid
delays/holdbacks, and larger property tax shifts. The increase in the state aid delay and higher property
tax shift percentage has significantly reduced the District’s cash flow, forcing the District to use
short-term borrowing for daily cash flow needs.
The District is grateful for the funding increases and one-time money. However, to avoid potential cash
flow shortages, the administration will continue to work with the District’s financial advisor to closely
monitor its cash flow projection and to implement a comprehensive cash flow management strategy to
ensure that funds are on-hand to meet daily cash flow needs.
The District is also committed to continue to engage parents, staff, business and community members in
further budget adjustment discussions and to consider other options for increasing revenues.
The administration appreciates the continued support from the community and is committed to continue
to monitor its spending and strive to maintain sustainable operations.
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, Rosemount – Apple Valley –
Eagan Public Schools, 3455 – 153rd Street West, Rosemount, Minnesota 55068.
-23-
-24-
INDEPENDENT SCHOOL DISTRICT NO. 196
Balance Sheet
Governmental Funds
as of June 30, 2011
(With Partial Comparative Information as of June 30, 2010)
General Fund
Capital Projects –
Building
Construction Fund
Debt
Service Fund
Total Governmental Funds
2011
2010
Nonmajor Funds
Assets
Cash and temporary investments
Cash and investments held by trustee
Receivables
Current taxes
Delinquent taxes
Accounts and interest
Due from other governmental units
Due from other funds
Inventory
Prepaid items
Total assets
$
4,038,408
–
$
32,745,556
803,960
309,076
66,198,943
2,463,631
524,732
249,127
3,945,200
497,568
$
–
–
–
–
–
–
–
12,486,327
–
$
11,271,692
302,547
–
329,549
–
–
–
3,490,722
–
$
982,354
25,773
30,151
713,623
–
310,736
9,225
23,960,657
497,568
$
44,999,602
1,132,280
339,227
67,242,115
2,463,631
835,468
258,352
58,537,636
–
45,007,896
920,074
275,922
57,603,160
85,370
655,078
770,396
$
107,333,433
$
4,442,768
$
24,390,115
$
5,562,584
$
141,728,900
$
163,855,532
$
17,426,808
21,126,934
3,094,941
–
29,059,770
323,268
803,960
71,835,681
$
–
1,775,152
–
1,148,715
–
–
–
2,923,867
$
–
–
–
–
19,390,318
–
302,547
19,692,865
$
382,921
542,233
15,371
–
869,020
320,834
25,773
2,156,152
$
17,809,729
23,444,319
3,110,312
1,148,715
49,319,108
644,102
1,132,280
96,608,565
$
18,122,609
20,966,342
2,830,892
85,370
75,922,846
430,655
920,074
119,278,788
Liabilities and Fund Balances
Liabilities
Salaries payable
Accounts and contracts payable
Due to other governmental units
Due to other funds
Property taxes levied for subsequent year
Unearned revenue
Deferred revenue
Total liabilities
Fund balances (deficit)
Nonspendable
Restricted
Assigned
Unassigned
Total fund balances (deficit)
Total liabilities and fund balances
773,859
2,218,810
8,962,579
23,542,504
35,497,752
$
107,333,433
–
1,610,199
–
(91,298)
1,518,901
$
4,442,768
See notes to basic financial statements
28 and 29
–
4,697,250
–
–
4,697,250
$
24,390,115
319,961
3,086,471
–
–
3,406,432
$
5,562,584
1,093,820
11,612,730
8,962,579
23,451,206
45,120,335
$
141,728,900
1,425,474
13,274,994
7,107,706
22,768,570
44,576,744
$
163,855,532
INDEPENDENT SCHOOL DISTRICT NO. 196
Statement of Revenue, Expenditures, and Changes in Fund Balances
Governmental Funds
Year Ended June 30, 2011
(With Partial Comparative Information for the Year Ended June 30, 2010)
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)
Certificates of participation issued
Discount on debt issued
Capital lease
Sale of capital assets
Transfers in
Transfers (out)
Total other financing sources (uses)
Net change in fund balances
Fund balances
Beginning of year
End of year
$
82,783,372
65,275
11,374,761
187,899,325
9,842,124
291,964,857
Capital Projects –
Building
Construction Fund
$
–
1,890
37,657
–
–
39,547
Debt
Service Fund
$
Total Governmental Funds
2011
2010
Nonmajor Funds
18,317,431
30,031
88,300
796,969
–
19,232,731
$
2,439,565
10,914
12,235,334
1,848,400
3,770,591
20,304,804
$
103,540,368
108,110
23,736,052
190,544,694
13,612,715
331,541,939
$
74,528,277
303,790
22,855,768
196,502,525
30,566,131
324,756,491
10,610,352
8,003,178
146,233,427
3,684,086
55,441,820
13,266,880
21,823,059
21,853,910
480,313
–
48,623
–
–
–
–
–
–
–
–
–
–
–
–
9,293,842
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
10,859,314
9,037,194
501,371
10,610,352
8,003,178
146,233,427
3,684,086
55,441,820
13,266,880
21,823,059
21,853,910
480,313
10,859,314
9,085,817
9,795,213
10,936,881
8,337,360
148,836,850
3,590,812
54,584,837
14,147,361
21,601,756
21,957,328
475,935
10,813,496
8,974,527
9,043,684
2,251,633
373,148
284,070,429
–
76,484
9,370,326
14,832,565
4,993,840
19,826,405
–
–
20,397,879
17,084,198
5,443,472
333,665,039
17,415,183
5,611,984
336,327,994
7,894,428
(9,330,779)
–
–
–
2,878
–
(7,434,560)
(7,431,682)
2,705,000
(41,187)
–
–
7,322,623
–
9,986,436
462,746
655,657
35,035,006
863,244
35,497,752
$
1,518,901
See notes to basic financial statements
32 and 33
(593,674)
–
–
–
–
–
–
–
(593,674)
5,290,924
$
4,697,250
$
(93,075)
(2,123,100)
(11,571,503)
–
–
–
–
111,937
–
111,937
2,705,000
(41,187)
–
2,878
7,434,560
(7,434,560)
2,666,691
–
–
496,033
153,996
5,056,267
(5,056,267)
650,029
18,862
543,591
3,387,570
44,576,744
3,406,432
$
45,120,335
(10,921,474)
55,498,218
$
44,576,744
INDEPENDENT SCHOOL DISTRICT NO. 196
Schedule of Changes in Capital Assets
Year Ended June 30, 2011
Balance –
June 30, 2010
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
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
$
Additions
Completed
Construction
Balance –
June 30, 2011
8,870,712
10,421,635
333,947,512
42,780,879
1,059,415
$
–
–
–
1,826,927
6,514,496
$
–
–
(947,234)
(1,465,249)
–
$
–
404,875
2,841,363
579,386
(3,825,624)
$ 397,080,153
$
8,341,423
$
(2,412,483)
$
–
$ 403,009,093
$ 67,579,258
329,103,362
397,533
$
6,175,178
–
2,166,245
$
(1,465,249)
(947,234)
–
$
–
–
–
$ 72,289,187
328,156,128
2,563,778
$ 397,080,153
$
8,341,423
$
(2,412,483)
$
–
$ 403,009,093
$ 394,046,599
2,948,735
84,819
$
7,824,321
517,102
–
$
(2,412,483)
–
–
$
–
–
–
$ 399,458,437
3,465,837
84,819
$ 397,080,153
$
8,341,423
$
(2,412,483)
$
–
$ 403,009,093
$
2,047,309
1,557,933
206,712
455,050
46,321
8,538,735
12,852,060
Less non-inventoriable expenditures included in above funds
Total additions in capital assets
Retirements
4,510,637
$
8,341,423
106 and 107
$
8,870,712
10,826,510
335,841,641
43,721,943
3,748,287
INDEPENDENT SCHOOL DISTRICT NO. 196
Net Assets by Component
Last Ten 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
2009
2010
2011
$ 69,433,592
$ 81,835,420
$ 95,458,965
$103,319,797
$111,989,021
$119,230,936
$125,050,825
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
3,801,856
6,606,010
4,289,513
26,636,430
272,613
4,243,774
4,802,276
20,067,683
1,900,381
4,710,365
4,285,838
22,415,867
$ 94,825,081
$ 95,804,171
$101,639,459
$119,373,992
$147,921,036
$153,322,830
$148,617,282
$158,363,276
110 and 111
INDEPENDENT SCHOOL DISTRICT NO. 196
Changes in Net Assets
Last Ten Fiscal Years
(Accrual Basis of Accounting)
Fiscal Year
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
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
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
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
$ 8,701,357
7,240,046
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
$ 9,835,546
8,627,590
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
$ 9,023,422
9,090,491
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
$ 8,968,491
7,360,345
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
$ 10,283,117
7,023,583
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
$ 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
$ 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
$ 10,676,349
7,231,136
139,395,913
4,379,357
52,646,589
17,746,580
22,449,912
32,544,041
551,497
10,634,039
8,999,897
8,822,145
6,927,751
323,005,206
$ 12,497,969
8,540,817
150,566,426
3,540,400
55,603,648
14,365,141
20,712,281
26,723,703
475,935
10,782,848
9,093,156
9,814,728
7,825,797
330,542,849
$ 11,180,500
8,294,596
147,871,836
3,771,098
56,254,830
13,330,690
22,136,945
25,708,804
480,313
10,846,263
9,231,014
9,918,941
7,841,877
326,867,707
81,002
3,223,380
52,065
440,523
19,296
41,620
62,540
–
6,808,907
2,263,686
25,253,389
4,677,609
42,924,017
146,582
3,920,338
25,957
390,816
26,444
127,089
28,346
–
6,884,873
2,311,137
29,911,982
380,419
44,153,983
111,626
4,573,155
7,846
574,667
35,193
60,113
28,144
–
6,895,899
2,353,112
30,454,788
114,198
45,208,741
50,635
4,552,404
2,010
497,360
55,433
74,833
131,648
2,151
7,112,438
2,720,795
32,257,806
64,745
47,522,258
75,129
4,838,618
45,620
490,434
52,866
67,714
28,145
1,453
7,257,671
3,569,929
36,220,285
103,954
52,751,818
96,758
5,071,867
65,692
186,346
16,810
100,331
111,005
1,417
7,340,463
3,956,546
36,629,032
139,640
53,715,907
120,295
5,299,648
1,885
84,914
31,710
214,570
70,041
13,752
7,773,800
4,242,845
42,921,499
17,710
60,792,669
120,095
5,547,968
33,414
72,788
42,153
98,531
87,596
–
7,626,413
4,646,333
43,753,262
68,959
62,097,512
110,015
5,560,131
21,059
127,208
34,560
812,921
122,706
–
7,390,904
4,614,030
45,687,662
37,444
64,518,640
92,363
5,640,999
13,070
323,786
33,087
931,678
213,825
–
7,219,979
4,915,046
48,184,008
52,688
67,620,529
(188,268,737)
(204,235,617)
(211,356,186)
(219,789,001)
(226,754,886)
(240,780,912)
(250,465,581)
(260,907,694)
(266,024,209)
(259,247,178)
41,187,343
1,275,311
4,253,749
17,372,047
128,820,035
463,877
3,336,590
196,708,952
22,729,126
1,236,554
4,961,214
14,989,869
171,358,179
169,473
2,584,414
218,028,829
35,724,669
1,348,139
5,127,985
16,031,296
157,332,041
105,923
2,064,033
217,734,086
21,910,160
1,590,944
7,672,625
15,813,739
170,583,278
430,208
2,767,137
220,768,091
13,315,999
815,744
6,805,943
18,393,234
187,194,406
1,716,786
4,348,062
232,590,174
42,180,245
1,633,165
8,503,194
21,941,662
178,683,239
1,529,616
4,779,838
259,250,959
46,474,687
1,641,337
6,728,396
20,077,143
186,584,417
1,732,845
4,335,798
267,574,623
48,799,954
1,382,457
6,176,945
17,711,200
187,486,449
2,163,797
2,588,686
266,309,488
50,921,613
1,613,879
4,847,224
17,203,207
183,031,690
2,374,094
1,326,954
261,318,661
75,606,000
2,444,228
7,322,623
18,379,723
157,855,931
2,417,001
4,967,666
268,993,172
$ 8,440,215
$ 13,793,212
$ 6,377,900
$ 5,835,288
$ 18,470,047
$ 17,109,042
$ 5,401,794
$ (4,705,548)
$ 9,745,994
$
979,090
112 and 113
INDEPENDENT SCHOOL DISTRICT NO. 196
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual Basis of Accounting)
Fiscal Year
General Fund
Reserved
Unreserved
Nonspendable
Restricted
Assigned
Unassigned
Total General Fund
All other governmental funds
Reserved
Unreserved, reported in
Special revenue funds
Capital Projects – Building Construction Fund
Debt Service Fund
Nonspendable
Restricted
Unassigned, reported in
Capital Projects – Building Construction Fund
Total all other governmental funds
Note:
2002
2003
2004
2005
2006
2007
2008
2009
2010
$ 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
–
–
–
–
$ 3,620,075
36,048,482
–
–
–
–
$ 3,206,123
31,828,883
–
–
–
–
$
$ 40,278,043
$ 47,688,169
$ 47,784,707
$ 37,988,142
$ 30,234,435
$ 33,410,126
$ 40,840,312
$ 39,668,557
$ 35,035,006
$ 35,497,752
$ 43,436,083
$ 35,725,646
$ 17,444,442
$ 44,163,808
$ 24,097,996
$ 16,141,199
$ 11,476,258
$ 5,870,499
$ 3,085,685
$
1,439,066
–
5,682,445
–
–
1,927,249
–
7,350,087
–
–
2,253,820
–
7,705,342
–
–
1,814,477
(874,876)
6,251,887
–
–
1,973,399
(995,964)
4,692,737
–
–
1,948,741
(1,626,265)
4,388,850
–
–
1,943,576
(1,340,420)
3,592,026
–
–
1,286,659
(418,812)
4,056,330
–
–
2011
2,562,040
(1,396,911)
5,290,924
–
–
–
–
–
–
–
–
–
–
–
$ 50,627,571
$ 41,395,818
$ 22,155,768
$ 48,358,990
$ 29,022,173
$ 23,262,710
$ 20,753,594
$ 15,829,661
$ 9,541,738
The District implemented GASB Statement No. 54 in fiscal 2011, which established new fund balance classifications.
114 and 115
–
–
773,859
2,218,810
8,962,579
23,542,504
–
–
–
–
319,961
9,393,920
(91,298)
$ 9,622,583
INDEPENDENT SCHOOL DISTRICT NO. 196
Changes in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified Accrual Basis of Accounting)
Fiscal Year
Revenues
Local sources
Taxes
Investment earnings
Other
State sources
Federal sources
Total revenues
2002
2003
2004
2005
2006
$ 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
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
100,497,328
2,744,907
28,810,111
9,858,756
13,109,586
16,756,694
525,633
7,917,466
6,167,148
4,683,293
112,501,071
2,946,866
33,519,406
9,929,903
19,198,576
18,202,750
673,507
7,938,974
6,477,815
6,037,107
117,910,661
2,947,151
37,931,352
10,371,610
15,410,207
18,145,873
651,645
8,697,590
5,956,082
6,838,507
123,554,056
3,145,684
43,817,566
11,045,046
17,524,847
17,865,811
749,823
8,976,737
5,910,474
19,373,009
128,580,799
3,063,062
46,752,194
11,538,175
19,163,704
20,399,004
755,136
9,622,671
6,874,186
36,743,734
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
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
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
7,765,606
5,155,586
(21,154,916)
(38,186,974)
(2,606,951)
–
–
–
37,500,000
61,573
–
–
–
–
37,561,573
–
–
3,885,000
20,125,000
584,157
–
(15,225,000)
1,719,548
7,745
11,096,450
–
–
3,958,369
–
–
–
(3,944,519)
–
9,329
23,179
$ 16,406,657
$ (27,090,524)
7.5%
8.0%
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
Debt issued
Premium on debt issued
Discount on debt issued
Payments to refunded bond escrow agent
Capital leases and other loans
Sale of capital assets
Total other financing sources (uses)
Net change in fund balances
Debt service as a percentage of noncapital
expenditures
–
–
–
–
–
–
–
188,923
66,607
255,530
$
8,021,136
9.5%
(1,368,812)
–
–
–
–
–
–
(7,300,000)
–
322,787
(6,977,213)
$
(1,821,627)
8.6%
–
–
–
–
–
–
–
82,500
17,800
100,300
$
(1,268,512)
8.1%
116 and 117
2007
$
$
74,065,528
4,525,997
20,512,946
202,416,935
10,263,367
311,784,773
(2,583,772)
8.1%
2008
$
74,697,557
3,961,904
21,182,866
216,030,229
11,896,836
327,769,392
2009
$
645,161
6,766,236
(6,766,236)
11,085,000
–
474,801
–
(11,570,000)
4,280,000
6,108
4,275,909
$
4,921,070
6.9%
$
73,939,516
1,602,779
22,093,951
217,577,040
12,076,767
327,290,053
2010
74,528,277
303,790
22,855,768
196,502,525
30,566,131
324,756,491
$ 103,540,368
108,110
23,736,052
190,544,694
13,612,715
331,541,939
12,296,918
8,517,040
10,936,881
8,337,360
10,610,352
8,003,178
163971417
4,694,936
59,789,980
19,064,240
23,322,712
24,250,273
551,497
11,239,092
9,749,495
7,845,072
148,836,850
3,590,812
54,584,837
14,147,361
21,601,756
21,957,328
475,935
10,656,596
8,974,527
9,200,584
146,233,427
3,684,086
55,441,820
13,266,880
21,823,059
21,853,910
480,313
10,859,314
9,085,817
9,795,213
17,486,403
4,459,336
367,238,411
17,415,183
5,611,984
336,327,994
17,084,198
5,443,472
333,665,039
(39,948,358)
(11,571,503)
(2,123,100)
6,631,231
(6,631,231)
–
37,440,000
141,283
–
(3,835,000)
–
106,387
33,852,670
5,056,267
(5,056,267)
–
–
–
–
–
496,033
153,996
650,029
7,434,560
(7,434,560)
–
2,705,000
–
(41,187)
–
–
2,878
2,666,691
(6,095,688)
$ (10,921,474)
6.1%
$
2011
7.0%
$
543,591
6.9%
INDEPENDENT SCHOOL DISTRICT NO. 196
Tax Capacity and Estimated Market Value of Property
Last Ten Fiscal Years
Tax Collection
Calendar Year
2002
Real and
Personal Property
Fiscal Disparities
Contribution
$
$
101,001,224
(8,591,686)
Tax Increment
$
(1,962,042)
Tax Capacity (1)
Tax Rate Determining
Value Subtotal
Percent
Increase
(Decrease)
Amount
Fiscal Disparities
Distribution
Total Tax Capacity
$
$
90,447,496
(20.2) %
9,836,660
$
Referendum Market Value
Percent
Increase
Amount
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
2009
179,552,596
(15,030,692)
(4,604,255)
159,917,649
(0.6)
20,392,039
180,309,688
15,593,464,050
(0.6)
2010
169,877,287
(16,063,641)
(4,480,095)
149,333,551
(6.6)
21,289,265
170,622,816
14,638,612,100
(6.1)
2011
159,044,236
(16,085,261)
(3,758,099)
139,200,876
(6.8)
21,042,211
160,243,087
13,695,749,525
(6.4)
(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 state.
Source:
Dakota County Department of Property Tax and Public Records
120 and 121
%
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
Revenue Fund
Service Fund
Overlapping Rates, Municipalities, and Townships
Total
Apple Valley
Burnsville
Coates
Eagan
Inver Grove
Heights
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
–
Tax capacity rate
Market value rate
2009
2009
10.287
0.210
0.928
–
9.894
–
21.109
0.210
37.086
0.031
36.121
–
13.587
–
26.886
0.015
37.878
–
Tax capacity rate
Market value rate
2010
2010
12.918
0.223
1.013
–
11.460
–
25.391
0.223
39.848
0.034
38.568
–
16.605
–
30.407
0.016
43.002
–
Tax capacity rate
Market value rate
2011
2011
13.718
0.226
1.061
–
12.180
–
26.959
0.226
42.388
0.038
42.598
–
14.343
–
33.675
0.017
43.169
–
(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)
122 and 123
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
2002
2002
34.545 %
–
59.549 %
–
38.108 %
–
21.329 %
–
33.102 %
–
5.021 %
–
112.948 %
–
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
Tax capacity rate
Market value rate
2009
2009
33.973
0.007
42.323
0.006
26.113
–
17.147
–
25.821
–
4.328
–
88.344
0.241
78.144
0.225
93.581
0.216
Tax capacity rate
Market value rate
2010
2010
36.920
0.007
43.457
0.007
27.737
–
16.643
–
27.261
–
4.420
–
96.920
0.256
87.479
0.239
100.529
0.229
Tax capacity rate
Market value rate
2011
2011
38.250
0.008
44.661
0.007
27.953
–
17.605
–
29.149
0.005
4.644
–
103.140
0.269
94.427
0.248
105.413
0.238
124 and 125
100.049 %
–
126.555 %
–
INDEPENDENT SCHOOL DISTRICT NO. 196
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
Fiscal Year
General
Obligation Bonds Refunding Bonds
Capital Notes
State
Energy Loans
2002
$ 159,490,000
2003
147,295,000
50,855,000
1,705,000
230,132
2004
119,315,000
46,820,000
1,395,000
2005
144,130,000
40,970,000
2006
139,310,000
2007
$
59,675,000
$
2,070,000
$
336,221
Capital Leases
Certificates
of Participation
$
$
13,621,406
Total
–
$ 235,192,627
12,837,838
–
124,043
12,008,336
1,155,000
17,954
39,175,000
945,000
127,595,000
33,480,000
2008
115,215,000
2009
Percentage
of Personal
Income (1)
Per Capita (1)
0.02 %
1,735
212,922,970
0.01
1,530
–
179,662,379
0.01
1,266
11,127,120
–
197,400,074
0.01
1,357
15,389
11,468,841
–
190,914,230
0.01
1,302
750,000
12,824
10,225,985
–
172,063,809
N/A
1,170
29,730,000
560,000
10,259
13,074,455
–
158,589,714
N/A
1,073
136,185,000
27,655,000
385,000
7,694
10,475,617
–
174,708,311
N/A
1,162
2010
123,615,000
25,150,000
225,000
5,129
8,794,032
–
157,789,161
N/A
1,035
2011
111,655,000
22,415,000
90,000
2,564
6,542,399
2,705,000
143,409,963
N/A
941
N/A – Not Available
(1)
See the Schedule of Demographic and Economic Statistics on page 135 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.
128 and 129
INDEPENDENT SCHOOL DISTRICT NO. 196
Legal Debt Margin Information
Last Ten Fiscal Years
Fiscal Year
2002
Debt limit
$
Total net debt applicable to limit
Legal debt margin
Total net debt applicable to limit
as a percentage of debt limit
$
2003
2004
2005
2006
2007
2008
2009
2010
2011
969,413,290
$ 1,647,046,260
$ 1,866,374,340
$ 2,093,669,259
$ 2,275,407,986
$ 2,352,824,336
$ 2,339,019,608
$ 2,196,363,555
$ 2,215,419,945
$ 2,072,617,605
173,922,466
161,574,585
147,580,338
167,181,975
171,405,883
152,240,600
134,252,908
156,517,363
143,744,858
129,462,750
795,490,824
$ 1,485,471,675
$ 1,718,794,002
$ 1,926,487,284
$ 2,104,002,103
$ 2,200,583,736
$ 2,204,766,700
$ 2,039,846,192
$ 2,071,675,087
$ 1,943,154,855
17.94%
9.81%
7.91%
7.99%
7.53%
6.47%
5.74%
7.13%
6.49%
6.25%
Legal Debt Margin Calculation for Fiscal Year 2011
Estimated market value – 2011
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:
$13,817,450,700
2,072,617,605
134,160,000
(4,697,250)
129,462,750
$ 1,943,154,855
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 repayment of general obligation bonds.
Source: Dakota County Department of Property Tax and Public Records
132 and 133
INDEPENDENT SCHOOL DISTRICT NO. 196
Principal Employers
by Major Municipalities in the District
2008 and 2006
2008
Employer
Employees
2006
Rank
Dakota County
4,000
850
260
250
145
140
90
75
55
50
2
10
16
17
22
23
27
28
29
30
Apple Valley
ISD No. 196
Dakota County
Fischer Sand & Aggregate Company
NWA Federal Credit Union
Uponor Wirsbo Company
City of Apple Valley
Apple Valley Ford
Wal-Mart
Apple Valley Medical Center
Minnesota Zoological Gardens
1,913
349
295
217
204
178
155
135
120
120
5
14
15
18
19
20
21
24
25
25
Eagan
West Group
Blue Cross & Blue Shield
Northwest Airlines
Lockheed Martin Tactical Defense
U.S. Postal Service
United Parcel Service
Coca-Cola Bottling
Ecolab Research Facility
Wells Fargo Mortgage
Prime Therapeutics
6,000
3,300
2,300
1,600
1,570
1,435
900
700
700
550
1
3
4
6
7
8
9
11
11
13
Note:
Percentage
of Total
Dakota County
Employment
398,177
Rosemount
ISD No. 196
Flint Hills Resources
Cannon Equipment
Dakota County Technical College
Spectro Alloys Corporation
Webb Properties, LLC
Greif Brothers Corporation
Wayne Transportation
Astro Plastics
Endres Processing, LLC
Total
City
Population
Percentage
of Total City
Population
Employment
Rank
Rosemount
ISD No. 196
Flint Hills Resources
Cannon Equipment
Dakota County Technical College
Spectro Alloys Corporation
Webb Properties, LLC
Greif Brothers Corporation
Wayne Transportation
Astro Plastics
Endres Processing, LLC
4,000
850
260
250
145
140
90
75
55
50
2
10
16
17
22
23
27
28
29
30
3.87
0.71
0.60
0.44
0.41
0.36
0.31
0.27
0.24
0.24
0.48
0.09
0.07
0.05
0.05
0.04
0.04
0.03
0.03
0.03
Apple Valley
ISD No. 196
Dakota County
Fischer Sand & Aggregate Company
NWA Federal Credit Union
Uponor Wirsbo Company
City of Apple Valley
Apple Valley Ford
Wal-Mart
Apple Valley Medical Center
Minnesota Zoological Gardens
1,913
349
295
217
204
178
155
135
120
120
5
14
15
18
19
20
21
24
25
25
8.94
4.92
3.43
2.38
2.34
2.14
1.34
1.04
1.04
0.82
1.51
0.83
0.58
0.40
0.39
0.36
0.23
0.18
0.18
0.14
Eagan
West Group
Blue Cross & Blue Shield
Northwest Airlines
Lockheed Martin Tactical Defense
U.S. Postal Service
United Parcel Service
Coca-Cola Bottling
Ecolab Research Facility
Wells Fargo Mortgage
Prime Therapeutics
6,000
3,300
2,300
1,600
1,570
1,435
900
700
700
550
1
3
4
6
7
8
9
11
11
13
49,456
67,106
20.84 %
7.20 %
Total
Information for years after 2008 and prior to 2006 is not readily available.
Source: Minnesota Department of Employment and Economic Development
136 and 137
Percentage
of Total City
Population
Employment
Percentage
of Total
Dakota County
Employment
224,077
1.00 %
0.21
0.07
0.06
0.04
0.04
0.02
0.02
0.01
0.01
19.12 %
4.06
1.24
1.20
0.69
0.67
0.43
0.36
0.26
0.24
137,479
Employees
Dakota County
20,917
28,656
Employer
City
Population
17,740
22.55 %
4.79
1.47
1.41
0.82
0.79
0.51
0.42
0.31
0.28
1.79 %
0.38
0.12
0.11
0.06
0.06
0.04
0.03
0.02
0.02
48,875
3.91
0.71
0.60
0.44
0.42
0.36
0.32
0.28
0.25
0.25
0.85
0.16
0.13
0.10
0.09
0.08
0.07
0.06
0.05
0.05
9.12
5.02
3.50
2.43
2.39
2.18
1.37
1.06
1.06
0.84
2.68
1.47
1.03
0.71
0.70
0.64
0.40
0.31
0.31
0.25
21.65 %
12.79 %
65,764
28,656
132,379
INDEPENDENT SCHOOL DISTRICT NO. 196
Employees by Classification
Last Ten Fiscal Years
2002
Administrators/principals (1)
Supervisors/special staff
Teachers/nurses
Clerical
Building chiefs and custodians
Food service
Truck drivers/mechanics/bus driver
Non-licensed specialists
Total
2003
2004
2005
2006
Fiscal Year
2007
2008
2009
2010
2011
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
112
69
3,013
1,112
255
248
322
56
106
60
2,724
1,003
227
189
273
42
86
56
2,419
893
204
185
266
51
4,019
4,258
4,236
4,048
4,650
4,311
5,185
5,187
4,624
4,160
(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
138 and 139
INDEPENDENT SCHOOL DISTRICT NO. 196
Operating Indicators
Standardized Testing and Graduation Rates
Last Nine Fiscal Years
2003
2004
2005
Fiscal Year
2007
2006
2008
2009
2010
2011
Standardized tests
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
86 %
82
81
80
74
74
85
83 %
81
84
78
74
78
85
87 %
83
89
83
78
79
84
MCA-II math (3)
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
91 %
85
77
70
69
62
57
90 %
87
81
77
70
63
56
80 %
78
66
54
60
54
64
MCA-II science
Grade 5
Grade 8
High school
MAP (Measures of Academic Progress)
Reading
Grade 2–5
Grade 6–7
Math
Grade 2–5
Grade 6–7
ACT
Average composite score
National Merit Scholars
Commended
Finalists and semifinalists
Attendance percentages
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
All grades
Graduation data
District graduation rates
State graduation rate
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
43.1
40.6
57.3
55.3
41.2
63.5
53.4
49.3
66.9
57
46
65
–
–
–
–
–
–
–
–
61.3
57.6
65.4
59.9
68.8
58.9
67.1
58.3
69.5
60.7
–
–
–
–
–
–
63.5
53.6
70.9
56.7
73.0
60.2
71.5
61.4
75.7
60.3
23.5
23.4
23.3
–
–
22.9
23.8
23.8
23.9
24.0
24.0
20
15
39
19
40
19
39
19
29
12
27
15
33
15
33
19
26
14
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
96.00 %
96.30
96.50
96.70
96.50
96.60
96.30
96.10
95.60
95.70
94.70
94.30
91.80
96.20 %
96.30
96.60
96.60
96.60
96.50
96.40
96.00
95.90
95.90
95.10
94.00
90.40
96.30 %
96.20
96.40
96.60
96.60
96.40
96.20
95.90
95.70
96.00
95.10
94.60
90.70
95.20 %
96.00
96.00
96.20
96.20
96.00
95.80
95.70
95.30
95.70
95.40
94.70
91.70
95.20 %
96.06
96.27
96.34
96.32
96.25
95.80
95.66
95.25
96.38
95.58
94.87
93.80
95.38 %
95.83 %
95.57 %
95.61 %
94.60 %
94.50 %
95.59 %
95.40 %
95.68 %
96 %
88 %
97 %
89 %
96 %
90 %
94 %
91 %
95 %
N/A
95 %
N/A
95 %
N/A
95 %
N/A
95 %
N/A
N/A – Not Available
(1)
Percent of students scoring at or above proficiency on the Minnesota Comprehensive Assessments (MCA); MCA-II replaced MCA-I in 2006.
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
140 and 141
INDEPENDENT SCHOOL DISTRICT NO. 196
Capital Asset Statistics by Program and Classification
Last Ten Fiscal Years
Fiscal Year
2002
Program
Administration
District support services
Elementary and secondary
regular instruction
Vocational education
Special education
Community education
Instructional support
Transportation
Food service
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
$
$
54,297
1,408,627
2004
$
72,797
1,225,987
2005
$
66,702
1,286,791
2006
$
141,342
1,180,667
2007
$
132,142
1,227,903
2008
$
147,409
1,025,661
2009
$
179,261
1,016,096
2010
$
203,816
990,747
2011
$
201,217
932,471
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
8,760,956
160,600
276,257
52,310
225,944
12,781,307
1,984,681
2,320,109
361,308,814
8,949,532
157,451
286,452
52,310
196,515
13,537,639
2,009,242
2,496,147
367,140,887
9,017,233
143,323
292,624
56,877
196,710
13,768,324
2,045,907
2,606,356
369,999,764
$ 296,979,143
$ 303,211,368
$ 305,584,875
$ 310,184,056
$ 316,587,681
$ 318,036,400
$ 357,999,478
$ 389,066,335
$ 396,020,738
$ 399,260,806
$
$
$
$
$
$
$
$
$
$
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
8,870,712
10,153,666
314,011,440
21,689,145
12,813,825
2,311,523
8,870,712
10,421,635
318,610,626
22,391,107
13,995,557
2,372,098
8,870,712
10,826,510
320,226,324
24,655,160
14,223,093
2,436,108
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
19,216,024
389,066,335
19,359,003
396,020,738
18,022,899
399,260,806
685,459
739,859
1,876,780
12,066,972
42,572,146
55,022,066
29,026,823
3,608,373
1,059,415
3,748,287
$ 297,664,603
$ 303,951,227
$ 307,461,655
$ 322,251,028
$ 359,159,827
$ 373,058,466
$ 387,026,301
$ 392,674,708
$ 397,080,153
$ 403,009,093
Construction in progress
Total classification and
construction in progress
51,698
1,361,988
2003
Source: ISD No. 196 Finance Department
142 and 143
INDEPENDENT SCHOOL DISTRICT NO. 196
Expenditures per Student (Average Daily Membership)
Last Ten Fiscal Years
2002
Administration
$
District support services
2003
279
$
2004
338
$
2005
345
$
2006
347
$
Fiscal Year
2007
355
$
2008
359
$
2009
374
$
2010
450
$
2011
402
$
392
254
300
319
261
250
252
291
312
306
295
3,518
3,942
4,184
4,393
4,599
4,643
5,044
5,999
5,466
5,398
96
103
105
112
110
111
127
172
132
136
Special education instruction
1,009
1,175
1,346
1,558
1,672
1,688
1,893
2,188
2,005
2,047
Instructional support services
345
348
368
393
413
417
600
698
520
490
Pupil support services
459
673
547
623
685
692
727
853
793
806
Sites and buildings
587
638
644
635
730
737
929
887
806
807
18
24
23
27
27
27
15
20
17
18
Food service
277
278
309
319
344
347
369
411
391
401
Community service
216
227
211
210
246
248
296
357
330
335
Capital outlay
164
212
243
689
1,314
1,327
435
287
338
362
Debt service
744
753
739
724
821
829
796
803
846
832
Elementary and secondary regular instruction
Vocational education instruction
Fiscal and other fixed cost programs
Total expenditures
$
Average daily membership
7,966
28,564
$
9,010
28,539
$
9,382
28,182
$
10,290
28,124
$
11,566
27,957
$
11,676
27,694
$
11,898
27,495
$
13,436
27,332
$
12,352
27,228
$
12,316
27,091
Note 1: Includes all governmental fund expenditures.
Note 2: Expenditures for 2009 were unusually high due to the District issuing $37.44 million of general obligation taxable OPEB bonds, reported as both an other financing source and expenditure in the governmental
funds in the year of issuance.
Source: Average daily membership from the Minnesota Department of Education
144 and 145
INDEPENDENT SCHOOL DISTRICT NO. 196
Food Service
School Lunch Program Data
Last Ten Fiscal Years
Participation
as a Percentage
Average Daily of Average Daily
Participation
Attendance
Year Ended
June 30,
Average Daily
Attendance (1)
Total
Lunches
Served
2002
24,274
2,204,826
175
12,599
51.9 %
229,731
10.4 %
2003
24,322
2,278,242
175
13,019
53.5
262,370
11.5
104,774
4.6
2004
24,308
2,381,418
173
13,765
56.6
299,685
12.6
103,352
4.3
2005
24,113
2,438,240
174
14,013
58.1
338,548
13.9
119,238
4.9
2006
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
2009
23,877
2,661,364
175
15,208
63.7
445,673
16.7
167,164
6.3
2010
23,903
2,646,001
173
15,295
64.0
517,890
19.6
177,497
6.7
2011
23,857
2,668,882
175
15,251
63.9
563,511
21.1
186,803
7.0
(1)
Days
Attendance is deemed to be 95 percent of enrollment.
Source: ISD No. 196 Summary: Food Service Statistics Reports
146 and 147
Free Lunch
Number
Percent
Served
of Total
Reduced Lunch
Number
Percent
Served
of Total
99,328
4.5 %
INDEPENDENT SCHOOL DISTRICT NO. 196
School Facilities
as of June 30, 2011
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
623.85
533.11
735.38
704.38
565.97
890.79
651.28
439.60
604.70
779.67
617.46
932.03
658.11
780.11
675.30
442.51
472.85
494.10
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
883.60
1,173.58
1,134.55
1,173.94
817.46
907.59
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
1,782.81
2,189.14
2,129.68
2,112.62
362.84
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
283.98
79.75
218.15
30.34
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
–
–
–
4,282,977
28,940
26,881.23
Facility
Area Learning Center and Transition Plus
Dakota Ridge
Early Childhood Learning Center
Rahncliff Learning Center
District Office
District Office Annex
District Office East
Acres
Classrooms (1)
Total
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 room
(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 schoo
(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 August 11, 2009 Building Age Report; enrollment based on Minnesota Department of Education September 19, 2011 School ADM Served Report. Years of construction and acreages
are based on district property records.
148 and 149