PLANO INDEPENDENT SCHOOL DISTRICT
PLANO, TEXAS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
YEAR ENDED
JUNE 30, 2009
PREPARED BY
CHRISTIE TATE
ACCOUNTING & BUDGET DIRECTOR
LINDA MADON
EXECUTIVE DIRECTOR OF FINANCIAL SERVICES
PLANO INDEPENDENT SCHOOL DISTRICT
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2009
TABLE OF CONTENTS
CERTIFICATE OF THE BOARD
INTRODUCTORY SECTION
Board of Trustees and Administrative Officials
Organization Chart
Transmittal Letter
GFOA Certificate of Achievement
Page
i
ii
iii
x
FINANCIAL SECTION
Exhibit
A-1
B-1
C-1
C-2
C-3
C-4
D-1
D-2
D-3
E-1
G-1
Independent Auditor’s Report
Management’s Discussion and Analysis
Basic Financial Statements
1
3
17
Government Wide Statements:
Statement of Net Assets
Statement of Activities
19
20
Governmental Fund Financial Statements:
Balance Sheet – Governmental Funds
Reconciliation of the Governmental Funds Balance Sheet to the Statement of
Net Assets
Statement of Revenues, Expenditures and Changes in Fund Balance –
Governmental Funds
Reconciliation of the Governmental Funds Statement of Revenues,
Expenditures and Changes in Fund Balances to the Statement of Activities
Statement of Net Assets – Proprietary Funds
Statement of Revenues, Expenses, and Changes in Fund Net Assets –
Proprietary Funds
Statement of Cash Flows – Proprietary Funds
Statement of Fiduciary Net Assets – Fiduciary Funds
22
25
26
28
29
30
31
32
Notes to the Financial Statements
33
Required Supplementary Information
Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget
and Actual – General Fund
59
Notes to Required Supplementary Information
61
60
PLANO INDEPENDENT SCHOOL DISTRICT
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2009
TABLE OF CONTENTS – CONTINUED
H-1
H-2
H-3
H-4
H-5
H-6
H-7
H-8
H-9
H-10
H-11
J-1
J-2
J-3
Exhibit
S-1
S-2
S-3
S-4
S-5
S-6
S-7
S-8
S-9
S-10
S-11
S-12
Combining and Individual Fund Statements and Schedules
Schedule of Revenues, Expenditures, and Changes in Fund Balance –
Budget and Actual – Debt Service
Combining Balance Sheet – Nonmajor Governmental Funds
Combining Statement of Revenues, Expenditures and Changes in Fund
Balances – Nonmajor Governmental Funds
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual – Child Nutrition Program
Combining Statement of Net Assets – Enterprise Funds
Combining Statement of Revenues, Expenses and Changes in Fund Net
Assets – Enterprise Funds
Combining Statement of Cash Flows – Enterprise Funds
Combining Statement of Net Assets – Internal Service Funds
Combining Statement of Revenues, Expenses and Changes in Fund Net
Assets – Internal Service Funds
Combining Statement of Cash Flows – Internal Service Funds
Statement of Changes in Assets and Liabilities – Agency Funds
65
67
68
70
72
73
74
75
76
78
80
82
REQUIRED TEXAS EDUCATION AGENCY
REPORT SECTION
83
Schedule of Delinquent Taxes Receivable
Schedule of Expenditures for Computation of Indirect Costs
Fund Balance and Cash Flow Calculation Worksheet
84
86
87
STATISTICAL SECTION
(Unaudited)
89
Net Assets by Component
Change in Net Assets
Fund Balances Governmental Funds
Governmental Funds Revenues
Governmental Funds Expenditures and Debt Service Ratio
Governmental Funds Other Financing Sources and Uses and Net Change
in Fund Balances
Assessed Value and Actual Value of Taxable Property
Direct and Overlapping Property Tax Rates
Principal Property Tax Payers
Property Tax Levies and Collections
Outstanding Debt by Type
Direct and Overlapping Governmental Activities Debt
91
92
94
95
96
97
98
99
100
101
102
103
PLANO INDEPENDENT SCHOOL DISTRICT
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2009
TABLE OF CONTENTS – CONTINUED
S-13
S-14
S-15
S-16
S-17
S-18
S-19
Legal Debt Margin Information
Demographic and Economic Statistics
Principal Employers
Full-time-Equivalent District Employees by Type
Operating Statistics
Teacher Base Salaries
School Building Information
REPORTS ON INTERNAL CONTROL,
COMPLIANCE, AND FEDERAL AWARDS
104
105
106
107
108
109
110
113
Exhibit
Auditor Documents:
Independent Auditor’s Report on Internal Control Over Financial Reporting
and on Compliance and Other Matters Based on an Audit of Financial
Statements Performed in Accordance with Government Auditing Standards
Independent Auditor’s Report on Compliance with Requirements Applicable
to Each Major Program and Internal Control Over Compliance in Accordance
with OMB Circular A-133
K-1
115
117
Auditee Documents:
Supplemental Schedule of Expenditures of Federal Awards
Notes to Supplemental Schedule of Expenditure of Federal Awards
119
121
Auditor Documents:
Schedule of Findings and Questioned Costs
122
Auditee Documents:
Status of Prior-Year Findings
124
INTRODUCTORY SECTION
BOARD OF TRUSTEES
Name
Length of
Service
Term
Expires
Occupation
Lloyd “Skip” Jenkins
President
7 Years
May 2011
Certified Public Accountant
Brad Shanklin
Vice President
4 Years
May 2011
President/CEO, Plano
Chamber of Commerce
Missy Bender
Secretary
3 Years
May 2012
Community Volunteer
Mary Beth King
Member
14 Years
May 2010
Community Volunteer
John Muns
Member
14 Years
May 2010
Partner, Investment Company
Marilyn Hinton
Member
Newly Elected
May 2012
Community Volunteer
Duncan Webb
Member
11 Years
May 2010
Attorney
ADMINISTRATIVE OFFICIALS
Name
Position
Length of
District Service
Dr. Douglas Otto
Superintendent
*total school district experience 37 years
14 Years*
Danny Modisette
Deputy Superintendent
28 Years
Jim Hirsch
Associate Superintendent – Academic &
Technology Services
*total school district experience 34 years
11 Years*
Richard Matkin
Associate Superintendent – Business Service
*total school district experience 34 years
8 Years
Karla Oliver
Executive Director – Government and
Community Relations
*total school district experience 19 years
5 Years*
Mike Collinsworth
Area Assistant Superintendent – East Cluster
23 Years
Patty Meyer
Area Assistant Superintendent – West Cluster
*total school district experience 36 years
23 Years*
Roxanne Burleson
Area Assistant Superintendent – Central Cluster
*total school district experience 29 years
27 Years*
i
Exec. Director
Auxiliary Services
(Richard Butler)
Exec. Director
Facilities Services
(Tom Kimbrough)
Exec. Director
Financial Services
(Linda Madon)
Associate Superintendent
Business Services
(Richard Matkin)
Superintendent of Schools
(Dr. Doug Otto)
Director, Benefits
& Risk Mgmt.
(Becky Garrett)
Director, Diversity
Compensation &
Employee Records
(Jun Melvin)
Director,
HR Services
(Becky Wussow)
Executive Director
Human Resources
(Tamira Griffin)
Coordinator, Social Svcs.
(Dorothy Shaw)
Director, Athletics
(Gerald Brence)
ii
Coordinator eSchool &
Special Projects
(Jean Parmer)
Director, After School Pgm.
(Arlene Carnes)
(Sherry Easterling)
Manager, Student Admin Svcs.
Director, Counseling Svcs.
(Paul Weaver)
Director, Student Mgmt.
(Mark Allen)
Executive Director
Student Services
(Cathy Galloway)
Executive Assistant
(Margie Grounds)
Executive Assistant
(Denise Gillespie)
Director, Security Police
Services
(Mark Hinshaw)
Principals
Area Asst Supt.
East Cluster
(Mike Collinsworth)
Principals
Area Asst Supt.
Central Cluster
(Roxanne Burleson)
Principals
Area Asst Supt.
West Cluster
(Patty Meyer)
Deputy Superintendent
(Danny Modisette)
Executive Director,
Community & Governmental
Relations
(Karla Oliver)
Internal Auditor
(Dan Clark)
Board of Trustees
Director Assessment &
Accountability
(Vacant)
Executive Director
Elem. Academic Svcs.
(Jayne Cantwell)
(Jim Wussow)
Secondary Academic Svcs.
Executive Director
Executive Director
Technology Operations
(John Alawneh)
(Mary Hewett)
Instructional Technology
Executive Director
Associate Superintendent,
Technology & Academic Svcs.
(Jim Hirsch)
October 23, 2009
Board of School Trustees
Plano Independent School District
th
2700 W. 15 Street
Plano, Texas 75075
Members of the Board:
The Comprehensive Annual Financial Report (CAFR) of the Plano Independent School District
(District) for the year ended June 30, 2009, is submitted herewith. This report was prepared by the
District’s Financial Services Department. Responsibility for both the accuracy of the presented data
and the completeness and fairness of the presentation, including all disclosures, rests with the District.
We believe the data, as presented, is accurate in all material aspects; that it is presented in a manner
designed to fairly set forth the financial position and the results of operations of the District as
measured by the financial activity of its various funds; and that all disclosures necessary to enable the
reader to gain an understanding of the District’s financial activities have been included. This report
includes all funds of the District. The District discusses in greater detail its financial position in the
narrative, introduction, overview and analysis sections of the Management’s Discussion and Analysis
(MD&A).
The CAFR for the year ended June 30, 2009 is presented in conformance with the reporting model
adopted by the Governmental Accounting Standards Board (―GASB‖) in their Statement No. 34, Basic
Financial Statements – and Management’s Discussion and Analysis – for State and Local
Governments, issued in June 1999. The presentation of the CAFR includes: Management’s
discussion and analysis (MD&A), government-wide financial statements, fund financial statements,
notes to the financial statements and required supplementary information (RSI) other than MD&A.
Additional sections in the CAFR include the introductory section, which includes this transmittal letter,
the District’s organizational chart and a list of principal officials. Combining and individual fund
statements and schedules for nonmajor funds are included along with required schedules for the
Texas Education Agency. The statistical section includes selected financial and demographic
information, generally presented on a multiyear basis. The District is required to undergo an annual
single audit in conformity with provisions of the Single Audit Act of 1996 and U.S. Office of
Management and Budget Circular A-133, Audits of States, Local Governments and Non-Profit
Organizations. Information related to this single audit, including the supplemental schedule of
expenditures of federal awards, findings and recommendations, and independent auditors’ reports on
internal control and compliance with applicable laws and regulations, is included in the back of this
report.
The remainder of this transmittal highlights the governance structure, the mission, the
accomplishments and initiatives, the economic conditions and outlook, and the financial activities of
the District.
GOVERNANCE
The governance of the District is overseen by a seven-member board of trustees (Board) that are
elected by the citizens. Each member is elected to a three-year term with the elections being
staggered so that not all positions are voted on during the same year. See page i for a listing of the
present members of the Board along with the administrative officials who are appointed by the Board.
iii
Regular action meetings are scheduled the first Tuesday of the month and are held in the District’s
Administration Building. Regular work sessions are scheduled the third Tuesday of the month and are
held at the District’s staff development training center, the Sockwell Center. Special meetings are
scheduled as needed and announced in compliance with public notice requirements.
The Board has final control over local school matters limited only by the state legislature, by the courts
and by the will of the people as expressed in School Board elections. Board decisions are based on a
majority vote of a quorum of the Board.
In general, the Board adopts policies, sets direction for curriculum, employs the superintendent and
oversees the operations of the District and its schools. Besides general Board business, trustees are
charged with numerous statutory regulations, including appointing the tax assessor/collector, calling
trustee and other school elections and canvassing the results, organizing the Board and electing its
officers. The Board is also responsible for setting the tax rate, setting salary schedules, and acting as
a board of appeals in personnel and student matters, confirming recommendations for textbook
adoptions, and adopting and amending the annual budget.
The Board has responsibilities and control over all activities related to the public school education
within its geographic boundaries. Even though there is considerable association between such other
entities as the Collin County Tax office and the Collin County Central Appraisal District, this report is
restricted only to the actual activities of the District.
The Board solicits and evaluates community input and support concerning school policies.
MISSION
The District is a public school system whose adopted mission is:
―. . .to provide an excellent education for all students.‖
To accomplish its mission, the District provides a full range of educational services appropriate to
grade levels ranging from pre-kindergarten through grade 12. These include regular and enriched
academic education, special education for handicapped children, career education and special
programs for those with limited English proficiency. These programs are supplemented by a wide
variety of co-curricular offerings, including those in fine arts and athletics. The District’s curriculum is
well-defined for the purpose of preparing students early for college readiness. The participation rate of
PISD students in Advanced Placement/International Baccalaureate ranks among the highest in the
state and nation. PISD students’ performance on these exams gives them a competitive edge for
college admission and college success.
As reflected in the District’s mission statement, activities of the District focus on learning opportunities
for students. The District is providing educational services to over 54,800 students in state of the art
facilities that include three early childhood schools for pre-kindergarten age students, 44 elementary
schools, 20 secondary school programs and two special program centers. The District has long
maintained the philosophy of renovating its schools every 20 to 25 years to ensure that all facilities
continue to meet new building standards as well as curriculum and technology requirements.
ECONOMIC CONDITIONS AND OUTLOOK
Situated in the heart of north Texas, and as an integral part of the Dallas/Fort Worth Metroplex, the
City of Plano enjoys easy access to major transportation and shipping hubs in air, rail and trucking to
any destination in the United States. A significant factor in the growth of the City’s economic base is
the addition, expansion and retention of numerous corporate and regional headquarters. Plano is
home to more than 6,000 businesses, including global corporate headquarters and technology-related
companies, and a large retail environment including two major shopping centers.
iv
HP Enterprise Services, formerly Electronic Data Systems, J.C. Penney Co., Frito-Lay Inc., Dr. Pepper
Snapple Group, Alcatel USA, Perot Systems, Bank of America Home Loans, and Ericsson all call
Plano home. The combined effects of population, income, employment and residential growth along
with increased industrial, commercial and retail development, have ensured the continuance of growth
during the past several years.
The Texas Economic Development Act amended the Texas Tax Code in 2001 to allow businesses to
apply for appraised value limitation on qualified property for economic development, making the state
more attractive for large-scale projects. Texas Instruments (TI) made application to the District for
approval of this limitation in November 2003. The District entered into a Texas Economic
Development Act Participation Agreement with TI in February 2004. The construction of the Texas
Instruments $3 billion semiconductor manufacturing facility located near the southern border of Plano
ISD is complete. The facility is scheduled to open in late 2009. The benefits associated with the
construction of this plant in Plano ISD and Collin County are estimated to be as large as 2.8 billion
dollars in assets. In conjunction with the construction of this facility, Plano ISD along with other higher
education entities in the area, have formed the High Technology Education Coalition of Collin County.
The collaboration between the entities in the coalition will provide internships and increase scholarship
opportunities for students and professional development opportunities for teachers.
The East section of the District continues to experience the most growth. The District’s latest multiyear bond program was successfully approved by the voters in May 2008. Approval of $490 million
will provide funding for four new schools, 20-year renovations, additions and expansions, system and
compliance for several facilities and district wide technology initiatives and capital improvements. This
multi-year bond program will impact every child and school in Plano ISD. The first bond sale on the
authorization was dated November 14, 2008. During the year, Construction Manager at Risk contracts
were approved for the new construction of Otto Middle School, McMillen High School and Isaacs Early
Childhood School. Construction continued for the addition at Beaty Early Childhood School, the
renovation and addition at Sigler Elementary, and the renovation at Hendrick Middle School.
Additional construction contracts were awarded for the conversion of Barron Elementary, Vines High
School Fine Arts and Science addition, Plano East Senior High School Science addition and kitchen
improvements, Clark High School renovation, kitchen improvements at Haggard and Armstrong Middle
Schools and additions at Boggess Elementary, Forman Elementary and the Guinn Center. A roof
replacement contract was awarded for Bethany Elementary, HVAC improvement for Weatherford
Elementary and stage lighting improvements for Shepton High School. Preliminary expenses were
incurred for the upcoming renovation of Mendenhall Elementary.
During fiscal year 2009, the District completed the new replacement building for Meadows Elementary,
purchased the land next to the Administration Building for additional parking, and portables were
purchased for the Guinn Center. Renovations were completed for Aldridge Elementary and the
Employee Childcare Center. Additional building improvement projects including sound system
improvements, HVAC improvements, parking lot improvements, lighting improvements were
completed at thirteen campuses. New roofs were added at two campuses. Lastly, flooring projects
were completed at six campuses.
Since the 1970s, the State of Texas has been involved with lawsuits challenging the system of
financing public schools. In 1987, the courts declared the system unconstitutional according to
standards of the Texas Constitution. The ruling focused not only on operating revenues and
expenditures, but also on facilities and capital financing. In the ensuing years, the Legislature has
tried to remain a step ahead of the courts, but has had several efforts at satisfying the requirements of
the Constitution found unconstitutional. In 1992, the Supreme Court of Texas found Senate Bill 351,
passed by the Legislature in 1991, to be unconstitutional in that it imposed a statewide property tax by
creating ―county education districts‖ (CEDs). The Texas Constitution prohibits a state property tax.
Following this ruling, the Legislature called a referendum to constitutionalize the provisions of Senate
Bill 351 and the CEDs. The voters of the state turned down the referendum issues, with 63% saying
no. The next effort at meeting the tests of equity, Senate Bill 7, passed by the Texas Legislature in
1993, was challenged by property-poor school districts as well as property-wealthy districts.
v
Points litigated include the equity issue, the capital financing issues, and issues of adequacy and
suitability. The Texas Supreme Court ruled, in January 1995, that the law was constitutional at the
time, but could become unconstitutional unless changes were made in the law over the next several
years.
Senate Bill 7 mandated that all districts having a wealth per student based on the weighted average
daily attendance (WADA) exceeding $280,000 must give up that excess wealth in one of several
manners: (1) consolidation with a property-poor district such that the combined wealth is less than
$280,000 per WADA; (2) tax base consolidation with a property-poor district such that the combined
wealth is less than $280,000 per WADA; (3) purchase of attendance credits from the State to reduce
the wealth to less than $280,000 per WADA; (4) purchase of attendance credits from a property-poor
district to reduce the wealth to less than $280,000 per WADA; or (5) disannexation of property from a
property-wealthy district to reduce the wealth to less than $280,000 and attachment of that property to
a property-poor district.
In 1995, the Texas Legislature passed Senate Bill 1, which rewrote the entire Texas Education Code.
This new law made very few changes to the school financing provisions. During the 1997 legislative
session, the Texas Legislature revised the formula for calculating the recapture amount to exclude
taxes collected for debt service from the calculation. The voters approved an additional $10,000
homestead exemption in August 1998. The 1997 legislation included provisions in the revised
recapture calculation to hold the District harmless from any lost tax revenues caused by the loss in
taxable value due to the increased homestead exemption.
In the 1999 legislative session, the Texas Legislature passed House Bill 4. This new law increased
the wealth per WADA that districts may retain to $295,000. This $15,000 increase in wealth per
weighted student represents the first increase since Senate Bill 7 was enacted in 1993. This minimal
adjustment to the wealth per weighted student provided some relief to the District regarding its
equalization efforts.
During the 2001 legislative session, the Texas Legislature passed House Bill 3343. This new law
increased the wealth per WADA that districts may retain to $300,000 for 2001-02 and to $305,000 for
2002-03. During the legislative session the Legislature agreed to name an interim committee following
the session to study public school finance in Texas. In September 2001, the Lieutenant Governor and
Speaker of the House appointed this committee. The committee was charged with conducting a
comprehensive review of the structure of the Texas public school finance system, including facilities
and transportation issues, the method used to fund public schools, and the criteria used to determine
state payments to school districts. The legislative leaders also instructed the committee to carefully
consider all of the equity issues that govern public school finance and fully examine all of the revenue
resources for funding public schools, including the state’s property tax system.
The Joint Select Committee on Public School Finance completed its review of the Texas public school
finance system in 2002. However, the committee failed to come to a consensus and make a
recommendation to state officials. The decision was left for Legislators to address in the 2003
legislative session. The regular session of the Texas Legislature ended June 2, 2003. The legislation
passed during the regular session that addressed the school finance system left the current funding
structure in place. The Texas Governor called a special session of the Legislature that convened April
20, 2004 to consider changes to the Texas public school finance system. The special session ended
without the enactment of new school finance legislation.
On April 9, 2001 four districts filed a suit now known as the West Orange case that challenged the
Texas school finance system on the basis that it effectively forces school districts to levy maintenance
and operation taxes at the maximum rate of $1.50 per $100 assessed value, thereby resulting in an
unconstitutional statewide ad valorem tax. Initially, the trial court in West Orange dismissed the suit
stating that the plaintiffs had failed to establish that a sufficient number of school districts were levying
the maximum tax rate of $1.50 in an effort to provide an accredited education and that the $1.50
statutory cap did not constitute a statewide property tax.
vi
Upon appeal, the appeals court affirmed the trial court’s ruling. On May 29, 2003 the Texas Supreme
Court reversed the lower courts and remanded the case back to the trial court for further proceedings.
On September 15, 2004 the trial court ruled on remand that the State’s school finance system: (1)
fails to provide an adequate suitable education as required by the State Constitution; (2) forces certain
school districts in the State to levy an ad valorem tax at the $1.50 statutory cap on maintenance and
operations tax rate, therefore violating the State constitution’s proscription against a statewide ad
valorem tax; and (3) is neither financially efficient nor efficient in the sense of providing for the
mandated adequate education nor the statutory regime of accreditation, accountability and
assessment. The judge further stated that he intends to enter an injunction on approximately October
1, 2004 that State funding of public schools cease unless the State legislature conforms the State
school finance system to meet State constitutional standards, with the effective date of the injunction
to be one year from the date the injunction order is entered. The Texas Attorney General immediately
announced that his office would appeal the trial court’s ruling directly to the Texas Supreme Court.
th
After the failure of the 79 regular Legislative Session and two subsequent special sessions to enact
legislation addressing the constitutional issues identified in the final judgment entered by the District
Court, the court’s ruling was appealed to the Texas Supreme Court in June 2005. The Texas Supreme
Court ruling in October 2005 upheld the trial court’s ruling on points one and two stated above.
Although the Texas Supreme Court noted significant deficiencies in the system, it did not declare it to
be unconstitutional at this time. The results of the Texas Supreme Court ruling required the
Legislature to significantly alter the Texas system of school finance. The Court established a deadline
of June 1, 2006 by which the Legislature had to restore meaningful local discretion to school districts
or the State funding system to school districts would cease to operate. The special session called by
the Governor which convened on April 17, 2006 was the sixth attempt in three years by the Legislature
to address school finance and tax policy issues.
This time the Legislature did take action and met the June deadline imposed by the Texas Supreme
Court. House Bill I was passed by the Legislature with its primary focus on property tax relief. Some
additional financial capacity was available in the 2006-07 school year for districts. However, no long
term stable revenue source was created for public education. House Bill 1 provided for the reduction of
maintenance and operating taxes by $0.17. Districts reducing the tax rate by this amount were
guaranteed the better of their 2005-06 or 2006-07 state aid and local tax revenue. For the 2007-08
school year, districts were required to reduce the maintenance and operating tax rate by an additional
$0.33 to a rate of $1.00 per hundred dollars of taxable value. Districts could access four cents of
additional tax rate capacity for enrichment during these two years. An additional $0.02 of tax capacity
became available in 2008-09, but requires voter approval. House Bill 1 also provided for a $2,000 net
pay increase for teachers, counselors, nurses and librarians effective for 2006-07. The bill established
a high school allotment of $275 per average daily attendance (ADA), incentive pay programs for
campuses in 2006-07 and incentive pay programs for both teachers and campuses in 2007-08. The
bill also contained significant changes to accountability for campus performance and financial
accountability along with a host of new efficiency measures including instructional spending targets, as
th
well as a uniform school start date for the fourth Monday in August to be effective in 2007. The 80
st
Legislature concluded its work in early June 2007. During the 81 Legislative Session, which
concluded in June 2009, Education continued to receive significant legislative attention. There were
two key bills from this session with significant impact on public schools in Texas. House Bill 3 on
Accountability, both academic and financial, implements significant new standards for the State and
local districts. New players, new criteria and new electronic submission systems are all included with
the passage of this legislation. The key bill addressing school finance, House Bill 3646, included
provisions that significantly increased the equalized wealth level to $476,500 for the 2009-10 year,
guaranteed a minimum gain per weighted average daily attendance (WADA) for local districts of $120
in revenues available, provided pay raise provisions to be the greater of $800 per eligible employee or
a higher uniform increase based on receiving $60 per WADA. The Legislature chose to use $3.2 billion
in federal American Recovery and Reinvestment Act (ARRA) stabilization funds to cover shortfalls in
the foundation school program to fund school finance changes passed as part of HB 3646. This
action now requires local districts to apply through the federal grant application process to receive
potentially millions of what was previously part of their state revenue from federal sources.
vii
Equalization provisions remain a part of the newly passed school finance legislation, but at a reduced
level due to the decrease in the maintenance and operating tax rate and the increase in the equalized
wealth level. Cumulatively, since the inception of these equalization efforts, the District has purchased
over $1.2 billion in attendance credits from the State and other districts within the State. Since the
1993-94 fiscal year, $4.60 cumulative of the local maintenance and operating tax rate has been levied,
but recaptured by the State. The District has seen its recapture payment increase from $10.4 million
in 1993-94 to a peak of $136 million for the 2005-06 year. Under House Bill I, the reduced
maintenance and operating tax rate in place since fiscal year 2007 and the increase in the equalized
wealth level has resulted in a reduction in the recapture payment to the current year level of $91
million.
The District’s financial planning for 2010 continues to consider the impact of the new legislation
passed as part of House Bill 3646 when adopting the General Fund budget for 2010. Further
reductions are seen in the purchase of attendance credits from the State, but are offset with reduced
State revenue. The budget for 2010 includes a raise for teachers in addition to the state required raise
as the District strives to move into the top tier salary grouping. The District has now accessed the full
four cents of additional tax rate capacity available without approval by the voters. The Board of
Trustees is required to adopt a final budget by no later than the close of the fiscal year, June 30.
Annual budgets for the General Operating Fund, Debt Service Fund and Food Service Fund were
adopted by the Board of Trustees on June 16, 2009. The budget is prepared by fund and function.
Site based decisions are made throughout the year as campuses and departments manage their
budgets. Budget transfers between functions, however, require approval from the Board of Trustees.
The District continues to operate a tightly controlled budget in all areas of operation while maintaining
a high quality educational program.
For additional information about the financial status of the District, readers should refer to
Management’s Discussion and Analysis section of this report.
OTHER INFORMATION
Controls
An internal control structure that has been designed, managed and maintained by the District is in
place to ensure the District’s assets are protected from loss, theft and misuse, and to ensure that
accurate accounting data is compiled in the preparation of financial statements in conformity with
Generally Accepted Accounting Principles (GAAP). The internal control structure is designed to
provide reasonable, but not absolute, assurance that these objectives are met.
Independent Audit
State law and District policy require an annual audit of the accounts and financial records of the
District by independent certified public accountants selected by the Board of Trustees. Weaver and
Tidwell have issued an unqualified opinion on the financial statements of Plano Independent School
District for the year ended June 30, 2009. The independent auditors’ report has been included in this
report at the front of the financial section.
Awards
th
In 1999, the 76 Texas Legislature, approved legislation requiring the commissioner of education in
consultation with the comptroller of public accounts to develop a rating system for school district
th
financial accountability.
The 77 Texas Legislature in 2001 subsequently adopted rules for the
implementation and administration of the financial accountability rating system known as School
FIRST, Financial Integrity Rating System of Texas. The financial accountability rating system
benefits the public by having in place a system to ensure that school districts will be held
accountable for the quality of their financial management practices and achieve improved
performance in the management of their financial resources. Plano Independent School District
viii
FINANCIAL SECTION
INDEPENDENT AUDITOR’S REPORT
WEAVER
TIDWELL
AND
L.L.P.
Certified Public
Accountants
and Consultants
Board of Trustees
PLANO INDEPENDENT SCHOOL DISTRICT
Plano, TX
We have audited the accompanying financial statements of the governmental
activities, business type activities, each major fund, and the aggregate remaining
fund information of the Plano Independent School District (the District) as of and
for the year ended June 30, 2009, 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 administration. Our responsibility is to
express an opinion on these basic financial statements based on our audit.
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 basic
financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the basic financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall basic financial statement presentation. We believe that our
audit provides a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all
material respects, the respective financial position of the government activities,
business type activities, each major fund, and the aggregate remaining fund
information of the District as of June 30, 2009, and the respective changes in
financial position and the cash flows, where applicable, thereof, for the year then
ended in conformity with accounting principles generally accepted in the United
States of America.
Three Forest Plaza
12221 Merit Drive
Suite 1400
Dallas, Texas 75251-2280
972.490.1970
F 972.702.8321
In accordance with Government Auditing Standards, we have also issued our
report dated October 23, 2009, on our consideration of the District's internal
control over financial reporting and our tests of its compliance with certain
provisions of laws, regulations, contracts, and grant agreements and other
matters. The purpose of that report is to describe the scope of our testing of
internal control over financial reporting and compliance and the results of the
testing, and not to provide an opinion on the internal control over financial
reporting or on compliance. That report is an integral part of an audit performed
in accordance with Government Auditing Standards and should be considered in
assessing the results of our audit.
WWW.WEAVERANDTIDWELL.COM
AN INDEPENDENT MEMBER OF
BAKER TILLY
INTERNATIONAL
OFFICES IN
DALLAS
FORT WORTH
HOUSTON
1
SAN ANTONIO
PLANO INDEPENDENT SCHOOL DISTRICT
October 23, 2009
Page 2
The accompanying management's discussion and analysis and the budgetary
comparison schedule-general fund as listed in the table of contents are not a
required part of the basic financial statements but are supplementary information
required by the Governmental Accounting Standards Board. We have applied
certain limited procedures, which consisted principally of inquiries of
management regarding the methods of measurement and presentation of the
required supplementary information. However, we did not audit the information
and express no opinion on it.
Our audit was conducted for the purpose of forming an opinion on the financial
statements that collectively comprise the District’s basic financial statements.
The accompanying schedule of expenditures of federal awards is presented for
purposes of additional analysis as required by U.S. Office of Management and
Budget Circular A-133, Audits of States, Local Governments, and Non-Profit
Organizations, and in addition to the combining statements, and the required
TEA schedules listed in the table of contents, are not a required part of the basic
financial statements. Such information, excluding the Fund Balance and Cash
Flow Worksheet – General Fund (Exhibit J-3) marked unaudited on which we
express no opinion, has been subjected to the auditing procedures applied in the
audit of the basic financial statements and, in our opinion, is fairly stated in all
material respects in relation to the basic financial statements taken as a whole.
WEAVER AND TIDWELL, L.L.P.
Dallas, Texas
October 23, 2009
2
PLANO INDEPENDENT SCHOOL DISTRICT
MANAGEMENT’S DISCUSSION AND ANALYSIS
FOR THE YEAR ENDED JUNE 30, 2009
(Unaudited)
Our discussion and analysis of Plano Independent School District’s (the ―District‖) financial performance
provides an overview of the District’s financial activities for the year ended June 30, 2009. It should be
read in conjunction with the District’s financial statements.
FINANCIAL HIGHLIGHTS
The District’s net assets as presented on the government-wide Statement of Net Assets exceeded
liabilities by $199,042,822. The net assets of the District decreased by $4.9 million during the year ended
June 30, 2009.
The District’s governmental funds financial statements reported combined ending fund balance of
$357,116,778. Of this amount, $10,755,368 is reserved or designated in the general operating funds for
restricted purposes and $116,608,135 is unreserved, undesignated in the General Operating Fund and is
available for spending at the District’s discretion. Fund balance of $229,753,275 is for use by the Debt
Service Fund, Capital Projects Fund and the Special Revenue Funds.
On May 10, 2008, the District held a successful bond election with voters approving $490 million in
authorized new bonds. The first bond sale for this authorization took place on November 14, 2008 when
the District issued $179,999,984 in new debt.
During fiscal year 2009, the District completed the new replacement building for Meadows Elementary,
portables were purchased for the Guinn Center and land next to the Administrative Center was purchased
for parking. Renovations were completed for Aldridge Elementary and the Employee Childcare Center.
Sound system improvements were completed at Plano Senior High School and lighting improvements
were made at Clark Field. Both Haggard Middle School and Saigling Elementary received parking lot
improvements. HVAC improvements were made at eight campuses and the Service Center. New roofs
were added at two campuses. Flooring projects were also completed at six campuses. Additionally,
during the year construction Manager at Risk contracts were approved for the new construction of Otto
Middle School, McMillen High School and Isaacs Early Childhood School. Construction continued for
various additions and renovations at twelve other campuses in the District. Preliminary expenses were
incurred for the upcoming renovation of Mendenhall Elementary.
OVERVIEW OF THE FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the District’s basic financial
statements. The District’s basic financial statements are comprised of three components: 1) governmentwide financial statements, 2) fund financial statements, and 3) notes to the basic financial statements.
This report also contains required supplementary information and other supplementary information in
addition to the basic financial statements themselves.
Government-Wide Financial Statements
All of the District’s services are reported in the government-wide financial statements, including
instruction, student support services, student transportation, general administration, school leadership,
facilities acquisition and construction and food services. Property taxes, state and federal aid, and
investment earnings finance most of the activities. Additionally, all capital and debt financing activities are
reported here.
The government-wide financial statements are designed to provide readers a broad overview of the
District’s finances, in a manner similar to a private-sector business.
3
The statement of net assets presents information on all of the District’s assets and liabilities, with the
difference between the two reported as net assets. Over time, increases or decreases in net assets may
serve as a useful indicator of whether the District’s financial position is improving or deteriorating.
The statement of activities details how the District’s net assets changed during the most recent fiscal year.
All changes in net assets are reported as soon as the underlying event giving rise to the change occurs,
regardless of the timing of related cash flows. Therefore, revenues and expenses are reported in this
statement for some items that will only result in cash flows in future fiscal periods (e.g., uncollected taxes
and earned but unused vacation leave).
Both of the government-wide financial statements distinguish functions of the District that are principally
supported by taxes and intergovernmental revenues (governmental activities) from business-type activities
that are intended to recover all or a significant portion of their costs through user fees and charges.
Fund Financial Statements
The District uses fund accounting to monitor specific sources of funding and spending for particular
purposes. The fund financial statements provide more detailed information about the District’s most
significant funds—not the District as a whole.
Some funds are required by State law and by bond covenants.
The Board of Trustees establishes other funds to control and manage money for particular purposes
or to show that it is properly using certain taxes and grants.
All of the funds of the District can be divided into three categories: governmental funds, proprietary funds,
and fiduciary funds.
Governmental funds are used to account for essentially the same functions reported as governmental
activities in the government-wide financial statements. Most of the District’s activities are included in
governmental funds, which 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. However, unlike the
government-wide financial statements, governmental fund financial statements provide a detailed short-term
view that helps determine whether there are more or fewer financial resources that can be spent in the near
future to finance the District’s programs. Because this information does not encompass the additional longterm focus of the government-wide statements, we provide additional information on the subsequent page
that explains the relationship (or differences) between them. Information is presented separately in the
governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and
changes in fund balances for the General Fund, Debt Service Fund and the Capital Projects Fund, which are
considered to be major funds. Data from all other Special Revenue funds is in the Other Funds column and
is presented as a non-major governmental fund on the same statements.
Proprietary funds are used to account for operations that are financed similar to those found in the private
sector. These funds provide both long- and short-term financial information. The District maintains two
types of proprietary funds. Enterprise funds are used to report the same functions presented as businesstype activities in the government-wide financial statements. The District uses enterprise funds to account for
its concession service, after school care, employee childcare and photography. Internal service funds report
activities that provide services for the District’s other programs and activities, i.e., health insurance, workers’
compensation, property insurance and print shop.
Because these services predominately benefit
governmental rather than business-type functions, they have been included within governmental activities
within the government-wide financial statements.
Fiduciary funds are used to account for assets held by the District in a trustee capacity or as an agent for
individuals, private organizations and/or other funds. The District is responsible for ensuring that the assets
reported in these funds are used for their intended purposes. All of the District’s fiduciary activities are
reported in a separate statement of fiduciary net assets. We exclude these activities from the District’s
government-wide financial statements because the District cannot use these assets to finance its operations.
4
Notes to the Basic Financial Statements
The notes to the basic financial statements provide additional information that is essential to a full
understanding of the data provided in the government-wide and fund financial statements.
Other Information
In addition to the basic financial statements and accompanying notes, this report also presents certain
required supplementary information that further explains and supports the information in the financial
statements. Immediately following the required supplementary information, combining statements are
included for the nonmajor special revenue funds, the enterprise funds, the internal service funds and the
agency funds.
The remainder of this overview section of management’s discussion and analysis explains the structure and
contents of each of the statements. Figure A-1 summarizes the major features of the District’s financial
statements, including the portion of the District government they cover and the types of information they
contain.
Figure A-1. Major Features of the District's Government-wide and Fund Financial Statements
Type of Statements
Government-wide
All activities of the District
(except fiduciary funds)
Scope
Governmental Funds
The activities of the district
that are not proprietary or
fiduciary
Fund Statements
Proprietary Funds
Activities the district
operates similar to private
businesses.
Fiduciary Funds
Instances in which the
district is the trustee or
agent for someone else's
resources
 Statement of net assets
 Balance sheet
 Statement of net assets
Required financial
statements
 Statement of activities
 Statement of revenues,
expenditures & changes
in fund balances
Accounting basis
and measurement
Accrual accounting and
economic resources focus
Modified accrual
accounting and current
financial resources focus
 Statement of revenues,
expenses and changes in
fund net assets
 Statement of cash flows
Accrual accounting and
economic resources focus
All assets and liabilities,
both financial and capital,
short-term and long-term
Only assets expected to
be used up and liabilities
that come due during the
year or soon thereafter;
no capital assets included
All assets and liabilities,
both financial and capital,
and short-term and longterm
All assets and liabilities,
both short-term and longterm; the Agency's funds do
not currently contain
capital assets, although
they can
All revenues and
expenses during year,
regardless of when cash
is received or paid
Revenues for which cash
is received during or soon
after the end of the year;
expenditures when goods
or services have been
received and payment is
due during the year or
soon thereafter
All revenues and expenses
during year, regardless of
when cash is received or
paid
All revenues and
expenses during year,
regardless of when cash
is received or paid
focus
Type of
asset/liability
information
Type of
inflow/outflow
information
 Statement of fiduciary
net assets
Statement of changes in
fiduciary net assets
Accrual accounting and
economic resources focus
FINANCIAL ANALYSIS OF THE DISTRICT AS A WHOLE
As noted earlier, net assets may serve over time as a useful indicator of the District’s financial position. The
District’s net assets were $199 million at June 30, 2009.
5
The District’s Net Assets
Current and Other Assets
Capital and Non-Current Assets
Total Assets
$
Governmental
Governmental
Business-Type
Business-Type
Activities
Activities
Activities
Activities
As of
As of
As of
As of
June 30, 2009
June 30, 2008
June 30, 2009
June 30, 2008
487,230,752
$
397,459,513
$
505,558
$
307,418
812,541,046
765,064,281
544
1,089
1,299,771,798
1,162,523,794
506,102
308,507
Current Liabilities
124,308,569
111,127,091
473,422
338,963
Long Term Liabilities
976,453,087
847,452,392
1,100,761,656
958,579,483
473,422
338,963
13,460,529
10,868,217
544
1,089
35,000,394
34,644,338
-
-
150,549,219
158,431,756
32,136
(31,545)
$ 199,010,142
$ 203,944,311
Total Liabilities
-
-
Net Assets:
Invested in Capital Assets,
net of related debt
Restricted
Unrestricted
Total Net Assets
$
32,680
$
(30,456)
Our analysis focuses on the net assets and changes in net assets of the District’s governmental and
business-type activities.
The significant increase in Current and Other Assets of $90 million is attributable to a $76.2 million increase
in Cash and Cash Equivalents, due primarily to the $179.9 million bond sale in November, 2008 being
invested and only partially expended at the end of the fiscal year. Additionally, Due from Other Governments
reflects a $10.3 million increase which includes a $9.3 million receivable from the State. The State of Texas
pays eighty percent of the District’s state funding in September and October while the final twenty percent
payment is not made until August after the District’s fiscal year end. Other Receivables reflect a $1 million
increase due to a receivable of $1,070,000 in insurance proceeds to cover roof damage incurred at several
campuses during a spring storm. Capitalized Bond and Other Debt Issuance Costs show an increase of $1.6
million as a result of the bonds issued in November 2008. The Capital and Non-Current Assets increased
by $47.5 million due to the completion of several building construction projects, the purchase of land, the
completion of land improvement projects and increased Construction in Progress activity with a middle
school and high school currently under construction along with several other large renovation projects in
process, which resulted in recording the addition of these projects to the various capital asset line items.
Significant increases in Current, Capital and Non-Current assets resulted in an increase in total assets
during the year ended June 30, 2009 of $137.4 million. Three line items within the Current Liabilities
category account for the increase of $13.4 million for the fiscal year. The increases are in, Accounts
Payable, Interest Payable and Accrued Wages Payable. The sizeable increase in construction activity due to
the large number of projects ongoing with the start up of the 2008 Bond Program accounts for the increase in
Accounts Payable of $6.4 million. Interest payable increased by $5 million due to additional interest due on
a large first coupon payment on the refunding bonds issued in April 2008. Accrued Wages Payable shows
an increase of $2 million due to increased staff and the solid pay raise granted to staff of 3.5% in fiscal year
2009. Noncurrent Liabilities increased $129 million. Obligations due within one year increased $8 million
while obligations due in more than one year increased $121 million due to the issuance of additional debt
during the prior four fiscal periods along with the new issue during fiscal year 2009. The increases in both
Current Liabilities and Noncurrent Liabilities combine for a total increase in liabilities of $142.2 million.
Investment in capital assets (e.g. land, buildings, furniture, and equipment) less any related debt used to
acquire those assets that is still outstanding is $13,461,073. The increase of $2.6 million is the result of an
increase in capital assets net of depreciation of $47.5 million while increasing related debt of $129 million is
offset by the increase in the Construction fund balance of $84.3 million. An additional portion of the District’s
net assets of $35,000,394 represents resources that are subject to external restrictions on how they may be
used. Net assets restricted for use by Food Service remained basically constant with only a small increase
of $267,760. Net assets restricted for Debt Service use remained constant as well with an increase of
$88,296.
6
The remaining balance of net assets, $150,581,355, is unrestricted and may be used to meet the District’s
ongoing obligations. The amount of unrestricted net assets decreased $7.5 million for the year ended
June 30, 2009. This decrease is a result of a larger increase in Total Liabilities over Total Assets.
Changes in net assets. The District’s total revenues were $650,234,158. A significant portion,
approximately 69%, of the District’s revenue comes from taxes. (See Figure A-2 or Exhibit B-1) With
changes in the State school finance law in place for the third year, sources of revenue have shifted from
local taxes to state aid through the Per Capita and Foundation School Program formula driven grants. State
aid now comprises 16% of the District’s revenue. State aid has increased to this level from 4% of revenue in
2006 and 10 % in 2007 while tax revenue has decreased from 82% in 2006 and 75% in 2007. State aid and
tax revenue were 17% and 66.7% respectfully in fiscal year 2008. Operating Grants provide 9%, while 4%
relates to charges for services. Interest revenue is 1% while other sources including miscellaneous local
revenue are 1%. The total cost of all programs and services was $655,105,191.
Figure A-2
District Sources of Revenue for the fiscal year ended June 30, 2009
Operating Grants
9%
Charges for Services
4%
Other
1%
Interest Income
1%
State Aid
16%
Property Taxes
69%
7
Figure A-2
District Sources of Revenue for the fiscal year ended June 30, 2008
Operating Grants
9%
Charges for Services
5%
Other
1%
Interest Income
3%
Property Taxes
66%
State Aid
16%
Government-Wide Activities
The District’s total net assets decreased by $4,871,033. The total cost of all government-wide activities for
the year ended June 30, 2009 was $655,105,191. Funding for these government-wide activities is by
specific program revenue or through general revenues such as property taxes and investment earnings. The
following is a summary of the governmental funds activities:
The cost of all governmental activities for the year was $649,094,969.
Some of the governmental activities cost was funded by program revenues directly attributable
to specific activities. These program revenues amounted to $76,092,885.
The remaining cost of governmental activities not directly funded by program revenues was
$573,002,084 which was funded from property taxes and other local sources.
The following table presents the cost of the District’s largest governmental functions as well as their related
net cost (total cost less fees generated by the activities and intergovernmental aid). The net cost reflects
what was funded by local tax dollars, state revenues and other miscellaneous general revenues.
Net Cost of Selected District Functions
(in million of dollars)
Instruction
Contracted Instrl Serv Btw Schools
Plant Maintenance & Operations
Debt Service-Interest on LT Debt
Facilities Acquisition and Construction
School Leadership
Total Cost of Services
$309.1
91.4
43.9
42.4
25.8
23.4
8
Net Cost of Services
$267.8
91.4
42.2
42.4
25.8
21.8
Change in the District's Net Assets
Governmental
Activities
FY 6/30/09
Governmental
Activities
FY 6/30/08
Business-Type
Activities
FY 6/30/09
Business-Type
Activities
FY 6/30/08
Revenues
Program Revenues
Charges for services
Operating grants and contributions
$
General Revenues
Property taxes
19,590,414
56,502,471
$
20,730,046
53,349,968
$
7,913,832
$
7,735,461
443,954,238
416,432,102
State aid - formula
Interest income
106,016,983
9,414,679
105,742,055
15,715,160
26,242
68,800
Other
Total revenues
6,815,299
642,294,084
5,007,973
616,977,304
7,940,074
7,804,261
327,453,085
27,385,851
318,423,816
26,350,587
Support Services - Student
Administrative Support Services
61,232,505
8,773,662
60,904,441
11,467,603
Support Services - Nonstudent Based
Ancillary Services - Community Service
54,448,917
1,552,946
54,845,210
1,220,347
Debt Service
Other Facility Costs
42,505,397
25,791,669
37,667,058
13,569,067
Intergovernmental Charges
Concessions
99,950,937
-
87,164,684
-
236,020
327,988
615,943
5,150,635
7,624
31,687
5,454,778
-
Expenses
Instruction and Instructional-Related Services
Instructional and School Leadership
Employee Child Care
After School Care
Photography
-
-
Total expenses
Increase (Decrease) in net assets
649,094,969
(6,800,885)
611,612,813
5,364,491
6,010,222
1,929,852
5,814,453
1,989,808
Beginning net assets
Transfers In (Out)
Ending net assets
203,944,311
1,866,716
199,010,142
196,525,432
2,054,388
203,944,311
(30,456)
(1,866,716)
32,680
34,124
(2,054,388)
(30,456)
$
$
$
$
The decrease in the ending net assets for Governmental Activities of $4.9 million is a combination of several
factors. Fiscal year 2009 was the third year the District operated under the significantly changed school
finance law passed by the state legislature during a special session in 2006. The significant changes have
now been implemented and were in place during both the 2008 and 2009 fiscal years. Property tax revenue
showed the largest increase of $27 million which is due to an increase in the maintenance and operating tax
rate of two cents from $1.02 for fiscal year 2008 to $1.04 for fiscal year 2009. Operating grants and
contributions increased by $3.2 million due to an increase in the federal funds for Title I of $1.2 million along
with an additional $666,974 in IDEA B. Additionally, there is an increase in the State’s contribution of
$607,025 on-behalf of our District’s employees to the Texas Teacher Retirement System The decrease of
$6.3 million in the general revenue line item for interest revenue is due to significantly declining interest rates
throughout the fiscal year. Miscellaneous Local and Intermediate Revenue reflect over a million increase
due to insurance proceeds received to cover roof repairs. These variances combine for an increase in
revenue of $25.5 million.
9
Total expenses reflect an overall increase of $37.7 million. Four areas comprise the majority of this increase.
The implementation of the 2008 Bond Program with construction on numerous projects underway during the
fiscal year accounts for $12.2 million increase in Facilities Acquisition and Construction expense. A $10.4
million increase in Contracted Instructional Services Between Schools is driven by the increase in property
tax revenue as a result of the two cent increase in the maintenance and operation tax rate. Under the Texas
School Finance law the District is classified as property wealthy and as such must remit a portion of property
taxes collected back to the State. Instruction and Instructional Related Services increased $9 million due to
positions added to lower the District’s teacher pupil ratio and raises provided to all staff. The last major
contributing factor is a $4.8 million increase in Debt Service payments due to bond issuances in the last four
fiscal years. Expenses previously classified as Administrative Support Services were moved to the
Intergovernmental Charges category, thus, accounting for the remaining $2 million increase in this category
and the majority of the corresponding decrease in Administrative Support Services.
Business-Type Activities
Net assets of the District’s business–type activities increased by $63,136. Late in fiscal year 2009 the District
began a Photography business-type activity. The Employee Child Care Center completed its first full year of
service in fiscal year 2009. A transfer into the Concession activity of $60,000 from Governmental activities
primarily accounts for the increase in the net assets of the business-type activities for fiscal year 2009.
FINANCIAL ANALYSIS OF THE DISTRICT’S FUNDS
Governmental Funds The District's accounting records for general governmental operations are maintained
on a modified accrual basis as prescribed by the Financial Accountability System Resource Guide, Texas
Education Agency, with the revenues being recorded when available and measurable to finance
expenditures of the fiscal period. Expenditures are recorded when services or goods are received and the
fund liabilities are incurred. The general governmental operations include the following major funds:
General, Debt Service and the Capital Projects Fund.
Revenues for general governmental functions totaled $641,679,696 for the year ended June 30, 2009.
Property taxes were the largest source of revenue received by the District. The District's assessed property
value increased by 4.29%. Fiscal year 2009 is the third year of implementation of HB 1 passed by the State
Legislature during multiple special sessions held in 2006. The legislation included a mandated $0.33 tax
rate deduction in the maintenance and operating tax rate for 2008. However, District’s have local discretion
to increase the maintenance and operating rate above the compressed rate of $1.00 by four cents without
holding a tax rate authorization election. In fiscal year 2008, the District took advantage of the first two cents
and increased the maintenance and operating rate to $1.02. In fiscal year 2009, the District exercised its
right and increased the maintenance and operating rate to $1.04. This tax rate increase resulted in an
increase in operating tax revenue of $19.2 million. The District also increased the Debt Service tax rate by
one and half cents from $0.2484 to $0.2634. This increase coupled with property value growth resulted in
increased tax revenue of $8.3 million for Debt Service. Declining interest rates throughout 2009 resulted in
decreased interest revenue of $6.3 million.
These items combine to result in a $21.5 million increase in Local Revenue. State Revenue increased by
$2.4 million. Increases in State Revenue are primarily due to the addition of two new state grants for fiscal
year 2009. The District had two campuses that qualified to participate in the Texas Educator Excellence
Award program. This is an incentive pay program for campuses who have improved their overall student
performance by meeting certain standard criteria. The District received $326,475 in state revenue under this
program. The State Shared Service Deaf Ed program for which the District is the fiscal agent reflects an
increase of $984,114 due to the recoding of member district payments to State Revenue for 2009. An
additional small increase was seen in the state funded High School Allotment of $134,635. Federal
revenues show an increase of $1.7 million for the 2009 year. Increases were seen in federal revenue for the
National School Lunch and Breakfast program due to increased participation and a higher reimbursement
amount per Type A meal served along with an increase in the funding for Title I and IDEA -B.
10
Expenditures for general governmental operations totaled $740,163,436 during fiscal year 2009 for a total
increase of $54.2 million. The largest increase is seen in Facilities Acquisition and Construction of $30.2
million due to start up of the 2008 Bond Program with the sale of bonds in November 2008 for approximately
$180 million. Two secondary schools are currently under construction, other renovations and expansions at
several campuses are active while other projects were completed during the fiscal year. Contracted
Instructional Services Between Schools saw an increase of $10.4 million. This increase is a result of the
increased property tax collections due to the two cent tax rate increase for maintenance and operating. Tax
revenue increased by a larger amount than the District’s student growth which resulted in an increased
payment to the State under the equalized wealth school finance provisions in place in the State of Texas.
Instruction reflects an increase of $7 million due to increased starting teacher pay, hiring of additional staff
and strong raises given to staff during fiscal year 2009. Fiscal year 2009 is the third year of a multi-year
phased in effort to become a top tier paying District. A strong compensation package was funded by
providing a $1,480 raise for all teachers, librarians and nurses with all other professional and
paraprofessional staff receiving a 3.0% raise. Administrators received a 2.5% raise. Debt Service increased
by $4.5 million due to increased debt payments as a result of bonds issued for the four preceding fiscal
years. A small portion of this increase is due to the recording of a capital lease principal payment in the
General Operating fund that relates to the copiers leased for the elementary campuses. Smaller additional
increases were seen in Food Services, School Leadership, Guidance and Counseling Services and
Extracurricular Activities. These functions combine for a total increase of $3.1 million. Expenditures related
to the appraisal of property previously recorded in General Administration were moved to the Other
intergovernmental Charges function which accounts for the corresponding decrease and increase in these
two functions of over $2 million. Smaller decreases were seen in Student Transportation due to reductions in
fuel cost and student shuttle trips along with a decrease in the Data Processing function that relates to
decreased expenditures for contracted maintenance repair and supplies. The combination of these variances
results in the net increase in Governmental fund expenditures.
The governmental funds reported a combined fund balance of $357,116,778. The net increase in the
combined fund balance of $85,357,206 is comprised of several changes in fund balance. The primary
increase of, $84,287,084, occurred in the Capital Projects fund due to receipt of bond proceeds in December
2008 with the start up of the 2008 Bond Program. Increases occurred in the current year fund balance in the
Debt Service Fund of $4,895,285 due to increased tax revenue as of result of the one and a half cent tax
rate increase and increased property values. A minimal increase was seen in Other non-major funds of
$33,260. Decreases were seen in the General Fund of $3,858,423. Out of the combined fund balances,
$116,608,135 constitutes unreserved, undesignated fund balance available for the general operations of the
District.
The remainder of the fund balance is reserved, designated or reported in specific funds to indicate that it is
not available for new spending because it has already been committed. Reservations, designations and
balances reported in specific funds as of June 30, 2009 consist of:
As of 6/30/09
Reservations:
Inventories
Prepaid Items
Designations:
Encumbrances
Other Purposes
Reported in:
Debt Service Fund
Capital Project Fund
Special Revenue Fund
As of 6/30/08
$
$
1, 539,634
1,159,431
$
$
1,158,570
1,171,747
$
$
76,772,307
3,153,475
$
$
3,840,319
3,569,745
$ 45,613,634
$ 102,660,406
$
9,609,756
$
$
$
40,718,349
89,666,307
9,382,222
11
The General Fund is the primary operating fund of the District. At the end of the current fiscal year,
unreserved, undesignated fund balance of the General Fund was $116,608,135. Unreserved, undesignated
fund balance available for the general operations of the District represents 23.3% of the total general fund
expenditures, while total fund balance represents 25.4% of the same amount.
The Capital Project Fund has a total fund balance of $173,953,391. This entire amount is committed for
future construction. The fund balance increased by $84,287,084 as a result of the sale of approximately
$180 million in bonds in November 2008 with the start up of the 2008 Bond Program.
The Special Revenue Funds have a total fund balance of $10,186,250. Unreserved and undesignated funds
total $9,609,756. Sixty-three percent of the total fund balance is from activity in the Food Service Fund. The
remaining thirty-seven percent is related to several miscellaneous local grants.
The Debt Service fund balance increased by $4.9 million due to an increase in appraised property values of
5.06% along with a $0.015 increase in the tax rate. The District’s semi-annual debt payment of $25.5 million
is due in mid-August and was as of June 30 neither expended nor accrued.
Proprietary Funds—The District maintains both enterprise funds and internal service funds. Information is
presented separately in the proprietary fund statement of net assets and in the proprietary fund statement of
revenues, expenses and changes in fund net assets for the Enterprise Fund and the Internal Service Funds.
Net assets in the Enterprise Fund as of June 30, 2009 were $32,680. Of this amount, $544, represents the
investment in capital assets. Net assets for the 2009 year increased by $63,136. Net assets in the Internal
Service Funds as of June 30, 2009 were $15,269,472. The majority of this amount is unrestricted to be used
for future expenses of the health benefits and workers compensation internal service funds. Net assets for
the 2009 year reflect a planned decrease in the District’s contribution to the alternative insurance plan that is
provided for employees who select not to participate in one of the District’s insurance plans.
The $109 per month decrease for approximately 1,600 staff member resulted in a decrease in operating
revenues of $2.3 million. Contracted Services involved with payment of claims increased by an additional
$2.2 million. The combined impact of these decreases resulted in the $4.3 million decrease in net assets for
the Internal Service Funds. The District will be moving to the Texas Teacher Retirement System Active Care
Insurance plan effective January 2010.
General Fund Budgetary Highlights
For the General Fund, the final budgeted amount for revenues was $494,194,454. This was an increase of
$5.2 million from the original budget estimate of $489,016,869. Local tax revenue was amended for an
increase in tax revenue of $4.2 million due to certified property values coming in higher than the preliminary
values on which the original budget was based.
Budget amendments to state revenue based on state
funding formula driven allocations resulted in an increase of $1 million that was due to the final settle up of
payments due from the state for the 2007-08 year. The slight increase in budgeted federal revenue of
$17,375 is due to an increase in federal funds received for the JROTC program.
Over the course of the period, the District revised its budget several times. These adjustments resulted in
actual expenditures $17,461,702 below final budgeted amounts. The most significant positive variances
were seen in the functional areas of Instruction, Facilities Maintenance and Contracted Instructional
Services. Staffing is budgeted at the full employment level throughout the entire year. Budget amounts for
vacant positions throughout the year are not eligible for budget revisions and contribute to the variance
between budgeted salaries and actual salaries. Contracted services for utilities and facility management
services were $2.6 million below budget while various supply accounts for maintenance and repairs were
$1.5 million below budget Contracted Instruction Services is based on current year data and as such
fluctuates throughout the entire year. The expenditure budget variance represents a 3% variance on the
total expenditure budget of $518.5 million.
12
CAPITAL ASSETS AND DEBT ADMINISTRATION
Capital Assets
The District had invested $812,541,590 net of depreciation, in a broad range of capital assets, including land,
equipment, buildings, and Construction in Progress. This amount represents a net increase (including
additions, retirements and depreciation) of $47.5 million over last year.
Land and improvements
Buildings and improvements
Construction in Progress
Furniture, Equipment, & Vehicles
Equipment under Capital Lease
Totals
$
Total accumulated depreciation
Net capital assets
As of 6/30/09
96,826,609
918,918,389
59,951,424
78,798,946
227,584
1,154,722,952
$
(342,181,362)
$
812,541,590
As of 6/30/08
93,088,845
886,009,000
25,025,292
74,596,668
1,078,719,805
(313,654,435)
$
765,065,370
The year’s major capital asset additions include the new replacement building for Meadows Elementary,
purchase of land next to the Administration Building to provide additional parking and portables purchased
for the Guinn Center. Major renovations were completed at Aldridge Elementary and the Employee
Childcare Center. Sound system improvements were completed at Plano Senior High and lighting
improvements were made at Clark Field. HVAC improvements were completed at nine facilities along with
new roofs at two campuses. Flooring projects were completed at six campus. Equipment under capital
lease was added in fiscal year 2009 to account for elementary copiers under this type of financing
arrangement. More detailed information about the District’s capital assets is presented in Note 5 to the
financial statements.
Debt Administration and Bond Ratings
Debt-management policies seek to provide the most favorable climate for District debt projects while
upholding the highest rating possible for debt instruments. Management policies include the following points:
All debt service obligations will be met when due.
Long-term financing will be restricted to capital projects and capital equipment acquisition.
Long-term bonds will not be issued to finance current operations.
The District will cooperate and communicate with bond-rating agencies and work towards
obtaining the most favorable municipal bond rating possible.
Outstanding obligations will be reviewed frequently to ensure the most favorable funding structure
for the District.
All necessary information and material regarding the District’s financial status will be provided to
the appropriate parties.
As of June 30, 2009, the District had total bonded debt outstanding of $968,227,579. The ratio of net
general bonded debt to assessed valuation and the amount of bonded debt per capita are useful indicators
of the District's debt position. From data presented in the statistical section both of these indicators
increased. Bonded debt per capita increased to $2,639 and the ratio of net bonded debt to assessed value
increased slightly to 2.7 percent.
The District has authorized unissued bonds as of June 30, 2009 in the amount of $310,000,000. On May 10,
2008 the District held a bond election to authorize $490,000,000 of bonds. The first bond sale from the May
2008 authorization took place on November 14, 2008.
13
The District continues to enjoy excellent bond ratings. Rating agency reviews were conducted in November
2008, when the District issued $179,999,984 against the approved 2008 bond authorization. A second
review has just been completed as the District prepares for a November 2009 bond sale. Moody's Investors
Service, Inc. assigned an underlying rating of Aa1 while Standard and Poor's Corporation assigned an
underlying rating of AA with a stable outlook to the District's debt obligations during their November 2008
reviews. Both rating agencies have confirmed their ratings again in the review conducted in October 2009.
Interest earnings on proceeds from debt are subject to arbitrage regulations contained in the Federal Tax
Reform Act of 1986. As of June 30, 2009 a liability for arbitrage rebate in the amount of $570,516 has been
recorded in the liability section on the Governmental-Wide Statement of Net Assets.
Amounts included for compensated absences include accrued vacation according to the District's leave
policy. Employees who terminate their employment may be paid accrued vacation not to exceed 40 days
carryover plus the current-year vacation allocation. More detailed information about the District’s general
long-term debt is presented in Note 7 to the financial statements.
ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS AND RATES
The appraised local tax value used for the 2009-10 budget remained basically constant when compared to
the appraised value from last year. The District’s weighted average daily attendance (WADA) is expected to
be 63,691 reflecting an increase from the near final WADA of 62,537 for 2008-09. A new early childhood
school in the east cluster of the District opened at the start of the 2009-10 year along with the opening of the
replacement building for Sigler Elementary School. Several renovations and additions to existing schools are
in progress as well.
These factors were taken into account when adopting the General Fund budget for 2010. Amounts available
for appropriation in the general fund budget are $450,379,859, a decrease of $43.6 million from the adopted
budget for 2008-09. Significant new legislation passed in special session by the Legislature in 2006 has
been in effect since fiscal year 2007 and continues for 2010 with additional modifications passed by the
State Legislature in May 2009.The legislation is structured on the basis of a target revenue amount. The
amount funded locally and by the State may fluctuate, but the overall total remains constant based on the
target revenue amount. This method has equalized funding for public education in the State of Texas. The
District is considered a property wealthy district and as such is subject to the recapture provisions in the
school finance legislation. The legislation effective for fiscal year 2010 increased the equalized wealth level
from $374,200 to $476,500 with additional increases in this amount scheduled for 2010-11 and 2011-12.
This large increase in the property value per weighted average daily attendance (WADA) that districts are
allowed to retain locally reduced the District’s amount required for Contracted Instructional Services by $54.1
million which resulted in a net increase of funds available for local operations of $10.5 million. .
Expenditures are budgeted to decrease by an additional $6.9 million over the $54.1 million reduction
described above that is the result of legislative changes passed as part of the new school finance legislation
effective for fiscal year 2010. Reductions were seen in all categories across the board with the exception of a
small increase in Capital Outlay. Instructional staffing allocations were reduced by increasing the student to
teacher ratio and eliminating some positions. Changes in the health insurance plan to move from a selffunded plan to the State’s insurance plan along with rate changes for the various options reduced cost for
this benefit.
These reductions were netted against salary increases to reflect an overall reduction in salary and benefits of
$3.9 million. Contracted Services show a decrease in anticipated expenditures of $3.4 million due to
renegotiated contracts for several data processing contracts as well as reductions in utilities to recognize
cost savings through installation of energy efficient lighting. Supplies reflect a decrease of $588,772 due to
reductions in the cost of fuel and maintenance supplies.
14
A decrease in other operating expenditures results from decreased travel and reclassification of
transportation shuttle cost. The District continues to operate a tightly controlled budget. Academic initiatives
focus on closing the achievement gap and ensuring learning for all students through high standards,
integrated technology and district-wide coherent curriculum. Several revenue generating programs have
been implemented. The District continues with its after-school care program and marketing of athletic
events. When combined, these initiatives will contribute approximately $1.9 million to the General Fund
budget.
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
th
Executive Director for Financial Services or the Accounting/Budget Director, at 2700 W. 15 Street, Plano,
Texas 75075, or call (469) 752-8118 or 8115.
15
16
BASIC FINANCIAL STATEMENTS
17
18
EXHIBIT A-1
PLANO INDEPENDENT SCHOOL DISTRICT
STATEMENT OF NET ASSETS
JUNE 30, 2009
1
2
Primary Government
Business
Governmental
Type
Activities
Activities
Data
Control
Codes
ASSETS
1110
Cash and Investments
1220
Property Taxes Receivable (Delinquent)
1230
Allowance for Uncollectible Taxes
1240
Due from Other Governments
1250
Accrued Interest
1290
Other Receivables, Net
1300
Inventories
1410
Deferred Expenses
1420
Capitalized Bond and Other Debt Issuance Costs
1490
Other Current Assets
Capital Assets:
1510
Land
1520
Buildings, Net
1530
Furniture and Equipment, Net
1540
Other Capital Assets, Net
1550
Leased Property under Capital Lease, Net
1580
Construction in Progress
1000
Total Assets
LIABILITIES
2110 Accounts Payable
2140 Interest Payable
2150 Payroll Deduction & Withholdings
2160 Accrued Wages Payable
2180 Due to Other Governments
2200 Accrued Expenses
2300 Deferred Revenues
Non-Current Liabilities
2501 Due within One Year
2502 Due in More than One Year
2000
Total Liabilities
NET ASSETS
3200 Invested in Capital Assets, Net of Related Debt
Restricted for:
3840
Restricted for Food Service
3850
Restricted for Debt Service
3900 Unrestricted Net Assets
3000
Total Net Assets
$ 450,615,870
11,228,073
(3,173,468)
17,153,657
3,166,650
2,016,102
1,539,634
1,429,559
3,229,675
25,000
$
271,913
1,626
232,019
-
$
3
Total
450,887,783
11,228,073
(3,173,468)
17,153,657
3,168,276
2,248,121
1,539,634
1,429,559
3,229,675
25,000
66,822,660
631,690,935
29,622,057
24,226,386
227,584
59,951,424
544
-
66,822,660
631,690,935
29,622,601
24,226,386
227,584
59,951,424
1,299,771,798
506,102
1,300,277,900
21,141,113
18,838,373
2,441,512
43,070,395
33,231,161
4,260,370
1,325,645
50,114
71,179
352,129
21,191,227
18,838,373
2,441,512
43,141,574
33,231,161
4,260,370
1,677,774
59,125,451
917,327,636
-
59,125,451
917,327,636
1,100,761,656
473,422
1,101,235,078
13,460,529
544
13,461,073
6,471,815
28,528,579
150,549,219
32,136
6,471,815
28,528,579
150,581,355
$ 199,010,142
$
The notes to the financial statements are an integral part of this statements.
19
32,680
$
199,042,822
PLANO INDEPENDENT SCHOOL DISTRICT
STATEMENT OF ACTIVITIES
FOR THE YEAR ENDED JUNE 30, 2009
Data
Control
Codes
Primary Government:
GOVERNMENTAL ACTIVITIES:
11
Instruction
12
Instructional Resources and Media Services
13
Curriculum and Instructional Staff Development
21
Instructional Leadership
23
School Leadership
31
Guidance, Counseling and Evaluation Services
32
Social Work Services
33
Health Services
34
Student (Pupil) Transportation
35
Food Services
36
Extracurricular Activities
41
General Administration
51
Plant Maintenance and Operations
52
Security and Monitoring Services
53
Data Processing Services
61
Community Services
72
Debt Service - Interest on Long Term Debt
73
Debt Service - Bond Issuance Costs and Fees
81
Other Facilitiy Costs
91
Contracted Instructional Services Between Schools
92
Incremental Costs Associated with Chapter 41
93
Payment to Fiscal Agent/Member Districts of SSA
95
Payments to Juvenile Justice Alternative Ed. Prg.
97
Payments to Tax Increment Fund
99
Other Intergovernmental Charges
Expenses
$
(TG) Total Governmental Activities:
01
02
03
04
BUSINESS-TYPE ACTIVITIES:
Concessions
Employee Child Care
After School Care
Photography
(TB) Total Business-Type Activities:
(TP) TOTAL PRIMARY GOVERNMENT:
Program Revenues
3
4
Operating
Charges of
Grant and
Services
Contributions
$
309,070,142
9,649,548
8,733,395
4,018,008
23,367,843
17,390,379
1,320,040
4,628,592
8,967,823
19,686,162
9,239,509
8,773,662
43,943,800
2,954,668
7,550,449
1,552,946
42,373,370
132,027
25,791,669
91,420,973
600,000
740,346
155,008
4,834,428
2,200,182
$
Change in Net Assets
Net Assets - Beginning
NE
Net Assets - Ending
36,855,747
423,054
2,290,446
1,027,828
1,536,514
2,068,175
333,383
499,308
616,756
7,039,101
643,344
467,023
616,112
192,755
406,068
977,511
509,346
-
19,590,414
236,020
615,943
5,150,635
7,624
239,156
530,511
7,144,165
-
-
6,010,222
7,913,832
-
655,105,191
$
Total General Revenues and Transfers
CN
NB
$
649,094,969
Data
Control General Revenues:
Codes Taxes:
MT
Property Taxes, Levied for General Purposes
DT
Property Taxes, Levied for Debt Service\
GC Grants and Contributions not Restricted
IE Investment Earnings
MI Miscellaneous Local and Intermediate Revenue
FR Transfers In (Out)
TR
4,380,948.00
208,184
10,974
7,821
12,341,001
1,400,846
42,486
1,121,989
76,165
-
The notes to the financial statements are an integral part of this statements.
20
27,504,246
56,502,471
$
56,502,471
EXHIBIT B-1
Net (Expense) Revenue and
Changes in Net Assets
6
7
Primary Government
Governmental
Business Type
Activities
Activities
$
(267,833,447)
(9,226,494)
(6,234,765)
(2,979,206)
(21,831,329)
(15,314,383)
(986,657)
(4,129,284)
(8,351,067)
(306,060)
(7,195,319)
(8,264,153)
(42,205,699)
(2,761,913)
(7,144,381)
(499,270)
(42,373,370)
(132,027)
(25,791,669)
(91,420,973)
(600,000)
(231,000)
(155,008)
(4,834,428)
(2,200,182)
$
(573,002,084)
$
$
-
Total
(267,833,447)
(9,226,494)
(6,234,765)
(2,979,206)
(21,831,329)
(15,314,383)
(986,657)
(4,129,284)
(8,351,067)
(306,060)
(7,195,319)
(8,264,153)
(42,205,699)
(2,761,913)
(7,144,381)
(499,270)
(42,373,370)
(132,027)
(25,791,669)
(91,420,973)
(600,000)
(231,000)
(155,008)
(4,834,428)
(2,200,182)
(573,002,084)
-
3,136
(85,432)
1,993,530
(7,624)
3,136
(85,432)
1,993,530
(7,624)
-
1,903,610
1,903,610
(573,002,084)
$
1,903,610
$
(571,098,474)
352,709,032
91,245,206
106,016,983
9,414,679
6,815,299
1,866,716
26,242
(1,866,716)
352,709,032
91,245,206
106,016,983
9,440,921
6,815,299
-
568,067,915
(1,840,474)
566,227,441
(4,934,169)
203,944,311
$
-
8
199,010,142
63,136
(30,456)
$
32,680
(4,871,033)
203,913,855
$
199,042,822
21
PLANO INDEPENDENT SCHOOL DISTRICT
BALANCE SHEET
GOVERNMENTAL FUNDS
JUNE 30, 2009
Data
Control
Codes
ASSETS
1110
1220
1230
1240
1250
1260
1290
1300
1410
1000
10
General
Fund
Cash and Investments
Property Taxes - Delinquent
Allowance for Uncollectible Taxes (Credit)
Due from Other Governments
Accrued Interest
Due from Other Funds
Other Receivables
Inventories
Prepaid Expenditures
Total Assets
LIABILITIES AND FUND BALANCES
2110
Accounts Payable
2150
Payroll Deductions and Withholdings Payable
2160
Accrued Wages Payable
2170
Due to Other Funds
2180
Due to Other Governments
2300
Deferred Revenues
2430
Accrued Interest Payable
2000
3410
3430
3550
3551
3552
3590
3600
3610
3620
3640
188,347,696
9,209,752
(2,701,500)
10,795,320
1,386,992
4,235,173
488,494
1,346,086
1,159,431
$
45,471,273
2,018,321
(471,968)
125,372
314,634
-
$
186,906,792
1,293,283
-
$
214,267,444
$
47,457,632
$
188,200,075
$
6,132,743
2,441,512
40,767,098
33,196,966
4,365,622
-
$
1,066,103
777,895
$
14,246,684
-
86,903,941
Fund Balances:
Reserved For:
Investments in Inventory
Prepaid Expenditures
Unreserved Designated For:
Outstanding Encumbrances General Fund
Outstanding Encumbrances Special Revenue
Outstanding Encumbrances Capital Projects
Other Purposes General Fund
Unreserved and Undesignated:
Reported in the General Fund
Reported in the Special Revenue Funds
Reported in Capital Projects Funds
Reported in Debt Service Funds
Total Fund Balances
4000
Total Liabilities and Fund Balances
60
Capital
Project
$
Total Liabilities
3000
50
Debt Service
Fund
$
1,843,998
1,346,086
1,159,431
-
5,096,376
3,153,475
-
14,246,684
71,292,985
-
116,608,135
-
45,613,634
102,660,406
-
127,363,503
45,613,634
173,953,391
214,267,444
$
The notes to the financial statements are an integral part of this statements.
22
47,457,632
$
188,200,075
EXHIBIT C-1
Total
Governmental
Funds
Other
Funds
$
11,365,345
6,232,965
43,561
457,608
193,548
-
$
432,091,106
11,228,073
(3,173,468)
17,153,657
3,038,470
4,235,173
946,102
1,539,634
1,159,431
$
18,293,027
$
468,218,178
$
236,567
2,303,297
4,235,173
34,195
1,297,545
-
$
20,615,994
2,441,512
43,070,395
4,235,173
33,231,161
6,729,270
777,895
$
8,106,777
111,101,400
193,548
-
1,539,634
1,159,431
382,946
-
5,096,376
382,946
71,292,985
3,153,475
9,609,756
-
116,608,135
9,609,756
102,660,406
45,613,634
10,186,250
357,116,778
18,293,027
$
468,218,178
23
24
EXHIBIT C-2
PLANO INDEPENDENT SCHOOL DISTRICT
RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET TO THE
STATEMENT OF NET ASSETS
JUNE 30, 2009
Total Fund Balances - Governmental Funds
Capital assets used in governmental activities (excluding internal service) are not
financial resources and therefore are not reported in governmental funds. The cost of
these assets is $1,154,656,367 and the accumulated depreciation is $342,152,210.
$ 357,116,778
812,504,157
Uncollected property taxes are reported as deferred revenue in the governmental funds
balance sheet but are recognized as a revenue in the statement of activities.
5,403,625
The District uses internal service funds to charge the costs of certain activities, such as
self-insurance and printing, to appropriate functions in other funds. The assets and
liabilities of the internal service funds (including net capital assets of $36,889) are
included in governmental activities in the statement of net assets. The net effect of this
consolidation is to increase(decrease) net assets.
15,269,472
Long-term liabilities of $994,841,549 are not due and payable in the current period and
therefore are not reported as liabilities in the funds. Losses on advanced refunding of
bonds payable of $18,388,462 are netted against the long-term liabilities in the statement
of net assets and as an other use in the governmental funds.
Interest payable is not due and payable in the current period and therefore is not
reported as a liability in the governmental funds.
Bond issuance costs are reported in the governmental funds as an expenditure and the
costs net of amortization are reported as an assets in the statement of net assets.
Net Assets of Governmental Activities
The notes to the financial statements are an integral part of this statements.
25
(976,453,087)
(18,060,478)
3,229,675
$ 199,010,142
PLANO INDEPENDENT SCHOOL DISTRICT
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
GOVERNMENTAL FUNDS
FOR THE YEAR ENDED JUNE 30, 2009
Data
Control
Codes
10
General
Fund
REVENUES:
5700
Total Local and Intermediate Sources
5800
State Program Revenues
5900
Federal Program Revenues
$
371,094,906
124,348,597
401,976
5020
Total Revenues
EXPENDITURES:
Current:
0011
Instruction
0012
Instructional Resources and Media Services
0013
Curriculum and Instructional Staff Development
0021
Instructional Leadership
0023
School Leadership
0031
Guidance, Counseling and Evaluation Services
0032
Social Work Services
0033
Health Services
0034
Student (Pupil) Transportation
0035
Food Services
0036
Extacurricular Activities
0041
General Admininstration
0051
Facilities Maintenance and Operations
0052
Security and Monitoring Services
0053
Data Processing Services
0061
Community Services
Debt Service:
0071
Debt Service - Principal on Long Term Debt
0072
Debt Service- Interest on Long Term Debt
0073
Debt Service - Bond Issuance Cost and Fees
Capital Outlay:
0081
Facilities Acquisition and Construction
Intergovernmental:
0091
Contracted Instructional Services Between Schools
0092
Incremental Costs Associated with Chapter 41
0093
Payments to Fiscal Agent/Member District of SSA
0095
Payments to Juvenile Justice Alternative Ed. Prg.
0097
Payments to Tax Increment Fund
0099
Other Intergovermental Charges
495,845,479
6030
1100
501,060,583
Fund Balance - June 30 (Ending)
$
92,236,684
-
$
-
50,740,000
39,360,962
1,860,800
275,171
-
91,420,973
600,000
231,000
155,008
4,834,428
2,200,182
-
3,384,009
3,384,009
-
119,928
-
$
60
Capital
Project
92,236,684
266,107,489
8,855,944
6,469,887
2,962,899
21,952,419
15,780,756
1,039,679
4,211,631
9,251,892
6,989,148
8,618,284
40,241,882
2,717,370
5,413,889
610,724
Total Expenditures
Excess (Deficiency) of Revenues Over (Under)
Expenditures
OTHER FINANCING SOURCES (USES):
7913
Capital Lease
7911
Capital Related Debt Issued
7915
Transfers In
7916
Premium or Discount on Issuance of Bonds
8911
Transfer Out (Use)
7080
Total Other Financing Sources (Uses)
1200
Net Change in Fund Balances
0100
Fund Balance - July 1 (Beginning)
3000
50
Debt Service
Fund
96,223,208
-
91,961,762
96,223,208
(5,215,104)
274,922
(92,839,199)
227,584
2,053,717
(924,620)
1,356,681
(3,858,423)
131,221,926
4,620,363
4,620,363
4,895,285
40,718,349
179,999,984
1,746,662
(4,620,363)
177,126,283
84,287,084
89,666,307
127,363,503
$
The notes to the financial statements are an integral part of this statements.
26
45,613,634
$
173,953,391
EXHIBIT C-3
Total
Governmental
Funds
Other
Funds
$
$
15,819,119
10,233,909
24,160,496
$
482,534,718
134,582,506
24,562,472
50,213,524
641,679,696
23,334,760
16,626
1,987,209
968,234
445,807
1,256,141
267,553
293,019
279,699
19,125,887
460,117
167,566
459,794
153,776
378,791
813,558
289,442,249
8,872,570
8,457,096
3,931,133
22,398,226
17,036,897
1,307,232
4,504,650
9,531,591
19,125,887
7,449,265
8,785,850
40,701,676
2,871,146
5,792,680
1,424,282
-
50,859,928
39,360,962
1,860,800
-
96,498,379
509,346
-
91,420,973
600,000
740,346
155,008
4,834,428
2,200,182
50,917,883
740,163,436
(704,359)
(98,483,740)
771,564
(33,945)
737,619
33,260
10,152,990
227,584
179,999,984
7,445,644
1,746,662
(5,578,928)
183,840,946
85,357,206
271,759,572
10,186,250
$
357,116,778
27
EXHIBIT C-4
PLANO INDEPENDENT SCHOOL DISTRICT
RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES,
EXPENDITURES, AND CHANGES IN FUND BALANCES TO THE STATEMENT OF
ACTIVITIES
FOR THE YEAR ENDED JUNE 30, 2009
Total Net Change in Fund Balances - Governmental Funds
$ 85,357,206
Governmental funds report capital outlays as expenditures. In the statements of activities,
the cost of those assets is allocated over the estimated useful lives as depreciated expense.
This is the amount by which capital outlays of $77,374,628 exceeded depreciation of
$29,890,296 in the current period, net of loss on disposition of assets of $2,414.
Certain expenditures are reported in the Facilities Acquisition and Construction category
which are under the capitalization threshold of $5,000 and therefore are not considered
capital outlay.
47,481,918
Repayment of principal and other long-term debt is an expenditure in the governmental
funds, but the repayment reduces long-term liabilities in the statement of net assets and is
not an expense in the current period. This amount represents the following: current year
principal payments of $50,859,928, amortization of premium of $3,481,779, bond issuance
costs of $1,728,773, and a $566,160 reduction of the arbitrage liability less bond issue cost
amortization of $159,852, a $229,176 increase in accretion, and $1,504,670 amortization
of the loss on bond refunding.
54,742,942
Some property taxes will not be collected for several months after the fiscal year ends,
therefore they are not considered available revenues and are deferred in the governmental
funds. Deferred tax revenues, net of bad debt, increased (decreased) by this amount.
(1,465,502)
Interest on long-term debt in the statement of activities differs from the amount reported
in the governmental funds because interest is recognized as an expenditure in the funds
when it is due and thus requires the use of current financial resources. In the statement of
activities, interest expense is recognized as the interest accrues, regardless of when it is
due.
(4,600,489)
In the statement of activities, compensated absences are measured by the amounts earned
during the year. In the governmental funds, expenditures for these items are measured by
the amount of financial resources used. This year, compensated absences earned exceeded
the amounts used.
The District uses internal service funds to charge the costs of certain activities, such as
self-insurance and printing, to appropriate functions in other funds. The net income
(loss) of internal service funds are reported with governmental activities. The net effect
of this consolidation is to increase (decrease) net assets.
Proceeds of bonds issued during the year and capital lease proceeds are recognized as
Other Financing Sources in the governmental funds but increase non-current liabilities in the
statement of net assets.
Change in Net Assets of Governmental Activities
The notes to the financial statements are an integral part of this statements.
28
(200,486)
(4,275,528)
(181,974,230)
$ (4,934,169)
EXHIBIT D-1
PLANO INDEPENDENT SCHOOL DISTRICT
STATEMENT OF NET ASSETS
PROPRIETARY FUNDS
JUNE 30, 2009
ASSETS
Current Assets:
Cash and Investments
Accrued Interest
Other Receivables
Deferred Expenses
Other Current Assets
Business Type
Activities
Governmental
Activities
Total
Enterprise
Funds
Total
Internal
Service Funds
$
Total Current Assets
271,913
1,626
232,019
-
$
505,558
Noncurrent Assets:
Capital Assets:
Furniture and Equipment
Depreciation on Furniture and Equipment
20,018,072
5,445
(4,901)
Total Noncurrent Assets
18,524,764
128,180
1,070,000
270,128
25,000
61,140
(24,251)
544
36,889
TOTAL ASSETS
506,102
20,054,961
LIABILITIES
Current Liabilities:
Accounts Payable
Accrued Wages Payable
Accrued Expenses
Deferred Revenues
50,114
71,179
352,129
525,119
4,260,370
-
TOTAL LIABILITIES
473,422
4,785,489
544
32,136
36,889
15,232,583
NET ASSETS
Investments in Capital Assets
Unrestricted Net Assets
TOTAL NET ASSETS
$
The notes to the financial statements are an integral part of this statements.
29
32,680
$
15,269,472
EXHIBIT D-2
PLANO INDEPENDENT SCHOOL DISTRICT
STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET ASSETS
PROPRIETARY FUNDS
FOR THE YEAR ENDED JUNE 30, 2009
OPERATING REVENUES:
Local and Intermediate Sources
Business Type
Activities
Governmental
Activities
Total
Enterprise
Funds
Total
Internal
Service Funds
$
7,913,832
$
34,266,069
Total Operating Revenues
7,913,832
34,266,069
OPERATING EXPENSES:
Payroll Costs
Professional and Contracted Services
Supplies and Materials
Other Operating Costs
4,702,313
198,696
197,152
912,061
1,140,675
34,549,624
448,788
3,918,654
Total Opertaing Expenses
6,010,222
40,057,741
Operating Income (Loss)
1,903,610
(5,791,672)
NON OPERATING REVENUES (EXPENSES):
Earnings from Temporary Deposits & Investments
Insurance Proceeds
Total Nonoperating Revenues (Expenses)
Income (Loss) Before Transfers
446,144
1,070,000
26,242
1,516,144
1,929,852
Transfer In
Transfer Out
(4,275,528)
153,056
(2,019,772)
Change in Net Assets
TOTAL NET ASSETS - JULY 1 (BEGINNING)
TOTAL NET ASSETS - JUNE 30 (ENDING)
26,242
-
$
The notes to the financial statements are an integral part of this statements.
30
-
63,136
(4,275,528)
(30,456)
19,545,000
32,680
$
15,269,472
EXHIBIT D-3
PLANO INDEPENDENT SCHOOL DISTRICT
STATEMENT OF CASH FLOWS
PROPRIETARY FUNDS
FOR THE YEAR ENDED JUNE 30, 2009
CASH FLOWS FROM OPERATING ACTIVITIES;
Cash Received from User Charges
Cash Payments to Employees for Services
Cash Payments for Insurance Claims
Cash Payments for Suppliers
Cash Payments for Other Operating Expenses
Business Type
Activities
Governmental
Activities
Total
Enterprise
Funds
Total
Internal
Service Funds
$
Net Cash Provided by (Used for) Operating Activities
7,995,299
(4,666,998)
(353,693)
(942,921)
$
2,031,687
CASH FLOWS FROM NON-CAPITAL FINANCING ACTIVITIES:
Transfer In
Transfer Out
Net Cash Used for Non-Capital Financing Activties
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of Investment Securities
Proceeds from Sale & Maturities of Securities
Interest and Dividends on Investments
34,302,320
(1,141,281)
(35,439,648)
(1,411,987)
(3,211,948)
(6,902,544)
153,056
(2,019,772)
-
(1,866,716)
-
(125,071)
37,374
(1,659,271)
67,229
466,366
(87,697)
(1,125,676)
Net Increase in Cash and Cash Equivalents
77,274
(8,028,220)
Cash and Cash Equivalents at Beginning of Year
54,944
15,696,853
Cash and Cash Equivalents at End of Year
132,218
7,668,633
Temporary Investment Not in Cash Equivalents
139,695
10,856,131
Net Cash Provided by Investing Activities
CASH ON BALANCE SHEET:
RECONCILITION OF OPERATING INCOME (LOSS) TO
NET CASH PROVIDED BY (USED FOR) OPERATING
ACTIVITIES:
Operating Income (Loss)
Adjustments to Reconcile Operating Income to Net
Cash Provided by (Used for) Operating Activities:
Depreciation
Effect of Increases and Decreases in Current Assets and
Liabilities:
Decrease (increase) in Receivables
Decrease (increase) in Prepaid Expenses
Increase (decrease) in Accounts Payable
Increase (decrease) in Accrued Wages Payable
Increase (decrease) Deferred Revenues
Increase (decrease) in Accrued Expenses
Increase (decrease) in Due to Other Funds
Net Cash Provided by (Used for) Operating Activities
The notes to the financial statements are an integral part of this statements.
31
$
271,913
$
18,524,764
$
1,903,610
$
(5,791,672)
545
5,153
(6,927)
42,059
35,411
88,394
(31,405)
$
2,031,687
36,251
(32,745)
190,260
(606)
(1,309,185)
$
(6,902,544)
EXHIBIT E-1
PLANO INDEPENDENT SCHOOL DISTRICT
STATEMENT OF FIDUCIARY NET ASSETS
FIDUCIARY FUNDS
JUNE 30, 2009
Agency
Fund
ASSETS
Investments - Current
Accrued Interest
Other Receivables
$
3,176,030
1,370
1,354
Total Assets
3,178,754
LIABILITIES
Accounts Payable
Due to Student Groups
122,361
3,056,393
Total Liabilities
The notes to the financial statements are an integral part of this statements.
32
$
3,178,754
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Reporting Entity
The Plano Independent School District (District) is an independent school district governed by the
Board of Trustees (Board), composed of seven Board Members, all of whom are elected officials. The
Board is the basic level of government which has responsibility and control over all activities related to
the public school education in the city of Plano and portions of the cities of Richardson, Dallas, Murphy,
Parker, Carrollton and Allen which lie within the District’s boundaries. The Board receives funding from
local, state and federal government sources and must comply with the requirements of these funding
source entities. However, the Board is not included in any other governmental “reporting entity,” as
defined in pronouncements by the Governmental Accounting Standards Board (GASB) Statement No.
14, The Reporting Entity. The District implemented GASB Statement No. 39, Determining Whether
Certain Organizations Are Component Units – an amendment of GASB Statement No. 14, and it was
determined that there are no component units and there is no effect on the financials.
Government-Wide and Fund Financial Statements
The Statement of Net Assets and the Statement of Activities report information on all of the nonfiduciary
activities of the District. The effect of interfund activity has been removed from these statements.
Governmental activities, which normally are supported by taxes and intergovernmental revenues, are
reported separately from business-type activities, which rely to a significant extent on fees and charges
for support.
The Statement of Activities demonstrates the degree to which the direct expenses of a given function
are offset by program revenues. Program revenues include (1) charges to customers or applicants for
goods, services, or privileges provided, (2) operating grants and contributions, and (3) capital grants
and contributions. Program revenues included in the Statement of Activities reduce the cost of the
function to be financed from General Revenues. Taxes and other items not properly identified as
program revenues are reported instead as general revenues.
The District reports all direct expenses by function in the Statement of Activities. Direct expenses are
those clearly identifiable with a function. Depreciation expense is specifically identified by function and
is included in the direct expense to each function.
Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary
funds. In accordance with the provisions of GASB Statement No. 34, the fiduciary funds are excluded
from the government-wide financial statements. Major individual governmental funds are reported as
separate columns in the fund financial statements.
33
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED
Measurement Focus, Basis of Accounting and Financial Statement Presentation
Government-Wide Financial Statements--The government-wide financial statements, as well as the
agency and proprietary fund statements, are reported using the economic resources measurement
focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are
recorded when a liability is incurred, regardless of the timing of the related cash flows. Property taxes
are recognized as revenues in the year for which they are levied. Grants and similar items are
recognized as revenue as soon as all eligibility requirements imposed by the grantor have been met. All
interfund transactions between governmental funds are eliminated on the government-wide statements.
Interfund activities between governmental and fiduciary funds remain as due to/due froms on the
government-wide Statement of Activities.
Fund Financial Statements--Governmental fund financial statements are reported using the current
financial resources measurement focus and the modified accrual basis of accounting. Revenues are
recognized as soon as they are both measurable and available. Revenues are considered to be
available when they are collectible within the current period or soon enough thereafter to pay liabilities
of the current period. Property taxes are considered to be available if collected within 60 days of the
fiscal year end. Expenditures generally are recorded when a liability is incurred, as under accrual
accounting. However, debt service expenditures are recorded when payments are due. Proprietary
fund financial statements are reported using the accrual basis of accounting. Revenues are recorded
when earned and expenses are recorded when the liability is incurred. All other revenue items are
considered measurable and available only when cash is received by the District. For proprietary funds,
the District applies all GASB pronouncements as well as the Financial Accounting Standards Board
pronouncements issued on or before November 30, 1989, unless those pronouncements conflict with
or contradict GASB pronouncements.
Funds
The District reports its financial activities through the use of “fund accounting”. The activities of the
District are organized on the basis of funds. The operations of each fund are accounted for within a
separate set of self-balancing accounts to reflect results of activities. Fund accounting segregates
funds according to their intended purpose and is used to assist management in demonstrating
compliance with finance-related legal and contractual provisions.
As required by the Texas Education Agency, the following fund types are included in the financial
statements:
Governmental Funds
Governmental Funds are those through which most governmental functions of the District are financed.
The acquisition, use and balances of the District's expendable financial resources and the related
liabilities are accounted for through the Governmental Fund Types.
34
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED
Governmental Funds – Continued
The following are the District's major governmental funds:

General Fund - The General Fund is the general operating fund of the District and accounts for
all revenues and expenditures of the District not encompassed within other funds. All general
tax revenues and other receipts that are not allocated by law or contractual agreement to some
other fund are accounted for in this fund. General operating expenses and the capital
improvement costs that are not paid through other funds are paid from the General Fund.

Debt Service Fund - The Debt Service Fund is used to account for the accumulation of
resources for, and the retirement of, long-term debt and related costs.

Capital Projects Fund - The Capital Projects Fund is used to account for financial resources to
be used for the acquisition, renovation or construction of capital facilities. Proceeds are
received through long-term debt financing and other authorized sources.
Other governmental funds include:

Special Revenue Funds - The Special Revenue Funds are used to account for the proceeds of
specific revenue sources (other than private-purpose trust funds or capital projects) such as
federal, state or locally financed programs where unused balances are returned to the grantor at
the close of specified project periods. Funds are legally restricted to expenditures for specified
purposes.
Proprietary Funds
Proprietary Funds are used to account for operations that are financed in a manner similar to those
found in the private sector, where the determination of net income is appropriate for sound financial
administration.

Enterprise Funds - The Enterprise Funds are used to account for operations that are financed
and operated in a manner similar to a private enterprise where the District's intent is to provide
services financed primarily through user charges. In prior years, the District’s only enterprise
fund was used to account for concession sales. Beginning in fiscal year 2008, the District
began accounting for the Employee Child Care and the After School Care funds as enterprise
funds and in fiscal year 2009 the Photography enterprise fund was established.

Internal Service Funds - The Internal Service Funds are used to account for the financing of
services provided by one department to other departments of the District on a cost
reimbursement basis. The print shop, health benefits self-funded, workers’ compensation selffunded, sign shop and insurance claims self-funded programs of the District are accounted for in
these funds. Accrued liabilities include provisions for claims reported and claims incurred but
not reported. The provision for reported claims is determined by estimating the amount which
will ultimately be paid to each claimant. The provision for claims incurred but not yet reported is
estimated based on District experience since the inception of the programs and data provided
by actuarial consultants.
35
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED
Proprietary Funds – Continued
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
connection with a proprietary fund’s principal ongoing operations. The principal operating revenues of
the District’s proprietary funds are charges to customers for sales and services. Operating expenses for
proprietary funds include the cost of sales and services, administrative expenses, and depreciation on
capital assets. All revenues and expenses not meeting this definition are reported as nonoperating
revenues and expenses.
Fiduciary Funds
Fiduciary Funds are used to account for assets held by the District in a trustee capacity or as an agent
for individuals, private organizations and/or other funds.

Agency Funds - Agency funds are custodial in nature (assets equal liabilities) and do not involve
measurement of results of operations. Agency Funds account for the receipt and disbursement
of monies from student activity organizations and other types of activities requiring clearing
accounts. The student activity organizations exist with the explicit approval of and are subject to
revocation by the District’s Board. This accounting reflects the District’s agency relationship with
the student activity organizations.
Assets Liabilities, and Net Assets or Equity
Cash and Cash Equivalents
The District’s cash and cash equivalents are considered to be cash on hand, demand deposits,
money market bank sweep accounts, money markets, and short-term investments with original
maturities of three months or less from the date of acquisition.
Investments
Investments with maturities exceeding twelve months at the date of purchase are stated at fair
value, which is the amount at which the investment can be exchanged in a current transaction
between willing parties. Investments with maturities of twelve months or less at the date of purchase
are held at amortized cost. Management of the District believes that in the areas of investment
practice, management reports and establishment of appropriate policies, the District adhered to the
requirements of the State of Texas Public Funds Investment Act. Additionally, management of the
District believes that investment practices of the District were in accordance with local policies.
Receivables and Payables
Activities between funds that are representative of lending/borrowing arrangements outstanding at
the end of the fiscal year are referred to as either “due to/from other funds”. Any residual balances
outstanding between the governmental activities and business-type activities are reported in the
government-wide statements as “internal balances.”
All trade and property tax receivables are shown net of allowance for uncollectible. The property
tax receivable allowance is 28% of outstanding property taxes at June 30, 2009.
36
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED
Assets Liabilities, and Net Assets or Equity – Continued
Inventories
Inventories of supplies on the balance sheet are stated at weighted average cost. Inventory items
are recorded as expenditures when they are consumed. Supplies are used for almost all functions
of activity.
Grant Fund Accounting
The Special Revenue Funds include programs that are financed on a project grant basis. These
projects have grant periods that range from less than twelve months to in excess of two years.
Grants are recorded as revenues when earned. Cost reimbursement grants are considered to be
earned to the extent of expenditures made under the provisions of the grants. Funds received, but
not earned, are recorded as deferred revenue until earned.
Indirect costs earned from grant programs are recorded as revenues of the General Fund. These
indirect costs are determined by applying approved indirect cost rates to actual expenditures of the
programs.
Encumbrances
Encumbrance accounting, under which purchase orders, contracts and other commitments for the
expenditure of funds are recorded in the accounting system in order to reserve the portion of the
applicable appropriation, is employed in the governmental fund financial statements. Encumbrances,
which have not been liquidated, are reported as designations of fund balance since they do not
constitute expenditures or liabilities. District policy requires that such amounts be re-appropriated in
the following fiscal year.
Capital Assets
Capital assets, which include land, land improvements, building, building improvements and
equipment, are reported in the applicable governmental activities column in the government-wide
financial statements and the proprietary fund financial statements. Capital assets are recorded at
historical cost or estimated historical cost if purchased or constructed. The capitalization threshold
is a unit cost of $5,000. Donated capital assets are recorded at estimated fair market value at the
date of donation.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially
extend the life of the asset are not capitalized. Major outlays for capital assets and improvements
are capitalized as projects are constructed.
37
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED
Assets Liabilities, and Net Assets or Equity – Continued
Capital Assets – Continued
Building and building improvements of the District are depreciated using the straight-line method
beginning in the year after they are placed in service. Capital assets are depreciated using the
straight-line method over the following estimated useful lives:
Asset Classification
Buildings and building improvements
Useful Life
50 years
Vehicles and buses
10 years
Furniture
20 years
Equipment
Computers
Kitchen equipment
Custodial equipment
Telephone equipment
Instruction and misc. equipment
5 years
10 years
15 years
10 years
10 years
Compensated Absences
Employees of the District are granted vacation and sick leave annually. Teachers do not receive
paid vacations but are paid only for the number of days they are required to work each year. As of
June 30, 2009, the District recorded $2,381,934 in the government-wide financial statements for
accrued vacation liabilities. Full-time employees in positions that require 12 months of service are
eligible for two weeks of vacation on July 1 following the first full year of employment. Full-time
employees who have not been employed one full year as of July 1 are eligible to take accrued days
after July 1 of that year but shall not be eligible for the full two weeks until July 1 of the following
year. Full-time employees who have completed five years of service in the District are granted
three weeks of vacation per year. Employees in positions that require 12 months of service may
extend accrued vacation time to September 30 each year.
Vacation days not used by
September 30 may be carried over, with a maximum accrual of 40 days.
Employees are allowed to accrue five days of state personal leave and seven days of local sick
leave each year without limit. State personal leave and local sick leave do not vest under the
District’s policy and accordingly, employees can only utilize state personal and sick leave when
sick, or state personal leave for personal reasons when approved by their supervisor. Since the
employees’ accumulating rights to receive compensation for future absences are contingent upon
the absences being caused by future illnesses and such amounts cannot be reasonably estimated,
a liability for unused sick leave is not recorded in the financial statements.
38
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED
Assets Liabilities, and Net Assets or Equity – Continued
Long-term Liabilities
In the government-wide financial statements, long-term debt and other long-term obligations are
reported as liabilities in the Statement of Net Assets. Bond premiums and discounts, as well as
issuance costs for bond issuances beginning in September 2001, are deferred and amortized over
the life of the bonds. Bonds payable are reported inclusive of applicable bond premium or discount.
Bond issuance costs are reported as deferred charges and amortized over the term of the related
debt using the straight-line method. Losses on refunding are capitalized and amortized over the
shorter of the life of the new issuance or the life on existing debt using the effective interest method.
Premiums and discounts are amortized over the life of the related debt using the effective interest
method.
In the fund financial statements, governmental funds recognize bond premiums and discounts, as
well as bond issuance costs and deferred losses on refunding as expenditures during the current
period. The face amount of the debt issued is reported as other financing sources. Premiums
received on debt issuances are reported as other financing sources while discounts on debt
issuances are reported as other financing uses. Issuance costs, whether or not withheld from the
actual debt proceeds received, are reported as debt service expenditures.
Fund Balances and Net Assets
Government-Wide Financial Statements
Net assets on the Statement of Net Assets include the following:
Invested in Capital Assets, Net of Related Debt -- the component of net assets that reports the
difference between capital assets less both the accumulated depreciation and the outstanding
balance of debt net of premiums and discounts, excluding unspent proceeds, that is directly
attributable to the acquisition, construction or improvement of these capital assets.
Restricted for Debt Service -- the component of net assets that reports the difference between
assets and liabilities with constraints placed on their use by the bond covenants.
Restricted for Food Service -- the component of net assets that reports the difference between
assets and liabilities with constraints placed on their use by the U.S. Department of Agriculture.
Unrestricted -- the difference between the assets and liabilities that is not reported in Net Assets
Invested in Capital Assets, Net of Related Debt, Net Assets Restricted for Food Service or Net
Assets Restricted for Debt Service.
Governmental Fund Financial Statements
In the fund financial statements, governmental funds report fund balances as either a reserved fund
balance or an unreserved fund balance.
Reserved Fund Balance
Reserved fund balance is that portion of fund balance which is not available for appropriation or
which has been legally segregated for specific purposes.
39
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED
Fund Balances and Net Assets – Continued
Unreserved Fund Balance
Unreserved fund balance is composed of designated and undesignated portions. The
undesignated portion of the unreserved fund balance represents that portion of fund balance
that is available for budgeting in future periods. Designated fund balances represent tentative
plans for future use of financial resources.
The Unreserved Designated for Other Purposes fund balance of $3,153,475 is the balance of
the funds donated to the District by Dr. Pepper to be used for designated curriculum and athletic
projects.
Management’s Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles
requires management to make estimates and assumptions that affect the reported amounts of assets
and liabilities at the date of the financial statements and the reported amounts of revenues and
expenditures during the reporting period. Actual results could differ from those estimates.
NOTE 2. CASH AND INVESTMENTS
Statutes of the State of Texas and policies mandated by the District’s Board of Trustees authorize the
District to invest in obligations of the U.S. Government or its agencies, repurchase agreements,
commercial paper, public fund investment pools, mutual funds and money market accounts. All cash
balances and investments are held separately in each of its funds.
As of June 30, 2009, the carrying amount of the District’s cash deposits were $343,558 and the bank
balance was $4,683,716. The District’s cash deposits at June 30, 2009 were entirely covered by FDIC
insurance or by pledged collateral held by the District’s bank in the District’s name.
Depository information, required to be reported to the Texas Education Agency, is as follows:
a) Name of depository bank: Bank of America, N.A.
b) Amount of bond or security pledged as of the date of the highest combined balance on deposit was
$18,978,841.
c) Highest cash, savings and time deposits combined account balances amount was $21,884,772 and
occurred on July 25, 2008.
d) Total amount of Federal Deposit Insurance Corporation (FDIC) coverage at the time of highest
combined balance was $250,000.
40
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 2. CASH AND INVESTMENTS – CONTINUED
As of June 30, 2009, the District had the following investments:
Investment Type
Market Value
U.S. agencies
Commercial paper
Certificates of Deposit
Public funds investment pools
$
282,632,562
15,998,048
119,000,000
36,264,939
Total market value
$
453,895,549
Portfolio weighted average maturity
Weighted Average
Maturity (Years)
0.736
0.055
0.215
0.003
0.252
The market value of investments is $183,136 more than the book value reported by the District. As
required by GASB Statement No. 31, the District recognizes the net unrealized gain/loss on investments
with a maturity date greater than one year from the acquisition date and investments that are callable.
Interest rate risk. In accordance with the District’s investment policy, investments are made in a manner
that ensures the preservation of capital in the overall portfolio, and offsets during a 12-month period any
market price losses resulting from interest-rate fluctuations by income received from the balance of the
portfolio. The District’s policy states that no individual investment transaction shall be undertaken that
jeopardizes the total capital position of the overall portfolio.
Credit risk. State law limits investments in commercial paper to not less than A-1 or P-1 or equivalent
rating by at least two nationally recognized credit rating agencies. As of June 30, 2009, the District had
commercial paper of $15,998,048 in the portfolio. The District’s investments in public funds investment
pools and money market mutual funds include those with TexPool and TexStar and Federated Investors.
TexPool and TexStar are public funds investment pools operating in full compliance with the Public Funds
Investment Act. TexPool and TexStar are rated as AAA money market funds by Standard & Poor’s. As of
June 30, 2009, the District’s investment in TexPool and TexStar was $29,281,995 and $1,981,644
respectively with a market value of $29,281,995 and $1,981,644 respectively. The Federated Tax-Free
Obligation Fund is rated a AAA money market fund by Fitch and Aaa by Moody’s. As of June 30, 2009, the
District’s investment in the Tax Free Obligations Fund was $5,001,300 with a market value of $5,001,300.
Investments in FNMA, FHLB, FFCB and FHLMC were backed by U.S. agencies with a AAA senior debt
rating by Standard & Poor’s and Moody’s, in full compliance with the Public Funds Investment Act.
Concentration of credit risk. The investment portfolio is diversified in terms of investment instruments,
maturity scheduling, and financial institutions to reduce risk of loss resulting from over-concentration of
assets in a specific class or investments, specific maturity, or specific issuer. More than 5% of the District’s
investments are in the following instruments: FHLMC at 33.0%, FHLB at 22.8% and CD’s at 26.2%.
41
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 2. CASH AND INVESTMENTS – CONTINUED
Custodial credit risk – deposits. In the case of deposits, this is the risk that in the event of a bank failure,
the District’s deposits may not be returned to it. During the fiscal year, all deposits held in the depository
bank, Bank of America, were fully collateralized.
Custodial credit risk – investments. For an investment, this is the risk that, in the event of the failure of
the counterparty, the District will not be able to recover the value of its investments or collateral securities
that are in the possession of an outside party. Investments held by third parties were fully collateralized
and held in the District’s name.
NOTE 3. PROPERTY TAXES AND STATE AID REVENUE
Property Taxes
The appraisal of property within the District is the responsibility of the Collin County Appraisal District
(Appraisal District). The District's property taxes are levied annually in October on the basis of the
Appraisal District's assessed values of property as of January 1 of that calendar year and are due and
payable when assessed. Such taxes are applicable to the fiscal year in which they are levied and
become delinquent with an enforceable lien on property after January 31 of the subsequent calendar
year. Delinquent taxes receivable and the related allowance for uncollectible taxes are shown on the
government-wide Statement of Net Assets and the fund financial Balance Sheet.
The District is permitted to levy taxes up to $1.04 per $100 of assessed valuation for general
governmental maintenance and operations. The tax rate for the payment of principal and interest on
general obligation long-term debt is determined by the debt service requirements of the outstanding
bonds as approved by the voters prior to issuance. For the current fiscal year, the Board of Trustees
set a tax rate of $1.3034 per $100 of assessed valuation. The maintenance and debt service portions
of such rate are $1.04 and $0.2634, respectively. The 2008 assessed valuation was $33,810,397,228
resulting in a tax levy of $454,874,791 for the current fiscal year. The 2008 tax levy reflects an
adjustment of $7,038,899 of frozen homestead exemptions for taxpayers 65 years and older as
mandated by state property tax laws.
Property taxes which are measurable (quantifiable) and available (collectible within the current period
or soon enough thereafter to finance expenditures of the current period, which the District has
estimated to be collected in the two months after the fiscal year end) are recognized as revenue in the
year of levy in the governmental fund financial statements. Property taxes, which are measurable but
not available, are recorded net of estimated uncollectible amounts, as deferred revenues in the year of
the levy in the governmental fund financial statements. Such deferred revenues are recognized in the
fund financial statements as revenue in the fiscal year in which they become available. In the
government-wide financial statements, property taxes are recognized as revenues in the year for which
the taxes are levied.
42
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 3. PROPERTY TAXES AND STATE AID REVENUE – CONTINUED
Property Taxes – Continued
Delinquent taxes receivable and the related allowance for uncollectible taxes in the governmental fund
financial statements as of June 30, 2009 are as follows:
General fund
Debt service fund
Delinquent Taxes
Receivable, Gross
$
9,209,752
2,018,321
Allowance for
Uncollectible Taxes
$
2,701,500
471,968
Delinquent Taxes
Receivable, Net
$
6,508,252
1,546,353
Total
$
$
$
11,228,073
3,173,468
8,054,605
The District entered into two tax increment reinvestment zone (TIF) agreements during the 1999 fiscal
year. TIF zone number 1 provides the District with a training facility. For fiscal year 2001 through
2021, the District will contribute 100% of the Maintenance and Operations portion of its taxes
attributable to the incremental increase in the assessed value of the property within the Tax Increment
Financing (TIF) Zone. TIF zone number 2 provides the District with a facility for administrative and
ancillary functions. For fiscal year 2001 through 2015, the District will contribute 100% of the
Maintenance and Operations portion of its taxes attributable to the incremental increase in the
assessed value of the property within the TIF Zone. Tax Increment Financing due to the TIF Board of
$4,834,428 is reported as due to other governments in the General Fund and is payable January 2010.
This amount includes $2,569,077 for Tax Year 2008 TIF #1 taxes, $2,232,135 for Tax Year 2008 TIF
#2 taxes and $33,216 in delinquent TIF collections.
State Aid Revenue
The Texas Education Agency, through its application of state law, allocates state revenues to school
districts by formula allocation. The District receives two allocations, a per capita allocation and a
foundation program allocation. The District also recognizes revenues for the state’s share of the
contributions to the Teacher Retirement System of Texas. See Note 9 for additional information on the
employee’s retirement plan. Other state revenues are received through other state miscellaneous
programs on an allocated basis.
State Aid Revenue
The components of state aid as shown in the governmental fund financial statements are as follows:
Revenues
Per capita revenues
Foundation fund revenues
Technology allotment
High school allotment
Other state revenues
TRS on behalf
Total state audit and revenue
$
$
43
Amounts
13,031,580
92,365,113
1,510,704
4,031,223
4,721,678
18,922,208
134,582,506
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 4. RECEIVABLES
Receivables due from other governments, as of June 30, 2009 for the District’s individual major funds and
non-major, internal service and fiduciary funds in the aggregate are as follows:
Due from the State of Texas
Due from the Federal Government
Due from Other Local Governments
$
General
Fund
9,291,333
1,503,987
Total receivables
$
10,795,320
Debt Service
Fund
$
125,372
Non-Major
and Other
Funds
$
5,757,131
475,834
-
$
$
125,372
$
6,232,965
$
Total
15,048,464
475,834
1,629,359
17,153,657
NOTE 5. CAPITAL ASSETS
A summary of capital asset activity during the year ended June 30, 2009 follows:
Beginning
Balance
Governmental Activities:
Capital assets not being depreciated:
Land
Construction in Progress
Total capital assets not being depreciated
Capital assets being depreciated:
Land Improvements
Buildings and Improvements
Furniture/Equipment & Vehicles
Equipment under Capital Lease
Total capital assets being depreciated
Total Capital Assets
Less accumulated depreciation for:
Land Improvements
Buildings and Improvements
Furniture/Equipment & Vehicles
Total accumulated depreciation
Governmental funds capital assets, net
Internal Service Funds:
Furniture/Equipment & Vehicles
Less Accumulated Depreciation
Internal service funds capital assets, net
Governmental activities capital assets, net
Business Activities:
Furniture/Equipment & Vehicles
Less Accumulated Depreciation
Business activities capital assets, net
Total Capital Assets, net
$
Increases
65,720,890
25,025,292
90,746,182
$
$
27,367,955
886,009,000
74,530,083
$
$
987,907,038
$
$
Ending
Balance
Decreases
1,101,770
71,573,285
72,675,055
$
36,647,153
36,647,153
$
$
$
2,635,994
32,909,389
5,573,759
227,584
41,346,726
$
$
1,371,481
1,371,481
$
30,003,949
918,918,389
78,732,361
227,584
1,027,882,283
1,078,653,220
$
114,021,781
$
38,018,634
$
1,154,656,367
$
$
4,374,260
265,386,415
43,870,306
313,630,981
$
$
1,369,067
1,369,067
$
$
1,403,303
21,841,039
6,645,954
29,890,296
$
5,777,563
287,227,454
49,147,193
342,152,210
$
765,022,239
$
84,131,485
$
36,649,567
$
812,504,157
$
$
$
$
61,140
19,098
42,042
$
61,140
24,251
36,889
$
765,064,281
$
$
812,541,046
$
$
$
$
5,445
4,356
1,089
$
5,445
4,901
544
$
765,065,370
$
$
812,541,590
$
$
-
44
$
$
$
$
5,153
(5,153) $
84,126,332
$
$
545
(545) $
84,125,787
$
36,649,567
36,649,567
$
66,822,660
59,951,424
126,774,084
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 5. CAPITAL ASSETS – CONTINUED
Depreciation expense was charged to functions/programs of the primary government as follows:
Governmental activities:
Instruction
Instructional resources and media services
Curriculum development and instructional staff development
Instructional leadership
School leadership
Guidance, counseling, and evaluation services
Health services
Student transpotation
Food services
Co-curricular/extracurricular activities
General administration
Plant maintenance and operations
Security and monitoring services
Data processing services
Community services
Facilities acquisition and construction
Total depreciation expense, governmental activities
Business - type activities:
Concessions
$
17,479,220
1,008,951
218,315
30,286
717,465
181,231
70,786
1,090,126
1,460,398
1,765,565
260,702
2,846,671
147,496
1,790,052
86,351
741,834
$
29,895,449
$
545
Construction Commitments
The District had several active construction projects as of June 30, 2009. Projects included new school
construction, additions to buildings and renovation of existing facilities. Fiscal year 2009 expenditures
and estimated future expenditures for capital projects are funded from unexpended bond proceeds,
additional general obligation bonds, and insurance proceeds.
During the year, Construction Manager at Risk contracts were approved for the new construction of
Otto Middle School, McMillen High School and Isaacs Early Childhood School. Construction continued
for the addition at Beaty Early Childhood School, the renovation and addition at Sigler Elementary, and
the renovation at Hendrick Middle School. Additional construction contracts were awarded for the
conversion of Barron Elementary, Vines High School Fine Arts and Science addition, Plano East Senior
High School Science addition and kitchen improvements, Clark High School renovation, kitchen
improvements at Haggard and Armstrong Middle Schools, and the additions at Boggess Elementary,
Forman Elementary and the Guinn Center. A roof replacement contract was awarded for Bethany
Elementary, HVAC improvements for Weatherford Elementary and stage lighting improvements at
Septon High School. Preliminary expenses were incurred for the upcoming renovation of Mendenhall
Elementary.
45
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 5. CAPITAL ASSETS – CONTINUED
Construction Commitments – Continued
During fiscal year 2009, the District completed the new replacement building for Meadows Elementary,
portables were purchased for the Guinn Center and land next to the Administration Building was
purchased for parking. Renovations were completed for Aldridge Elementary and the Employee
Childcare Center. Sound system improvements were completed at Plano Senior High School and
lighting improvements were made at Clark Field.
Both Haggard Middle School and Saigling Elementary received parking lot improvements. HVAC
improvements were made at Plano Senior High School, Vines High School, Wilson Middle School,
Robinson Middle School, Mendenhall Elementary, Gulledge Elementary, Shepard Elementary, Christie
Elementary and the Facility Service Center. New roofs were added at Bowman Middle School and
Forman Elementary. Lastly, flooring projects were completed at Skaggs Elementary, Hedgecoxe
Elementary, Forman Elementary, Barksdale Elementary, Armstrong Middle School and Robinson
Middle School.
Current projects include the following:
Project
Vines Fine Arts and Science
Clark H.S. Renovation
PESH Additions/Renovation
Shepton Stage Lighting
McMillen High School
Haggard Kitchen
Armstrong Kitchen & SP Ed Bldg Impr
Hendrick Renovation
Renner Career Ed Bldg Upgrade
Otto Middle School
Mendenhall Renovation
Sigler Renovation
Forman Addition
Weatherford HVAC
Bethany Roof Replacement
Boggess Addition
Barron Elementary Conversion
Beaty ECS Additional
Isaacs ECS
Special Program Center
Total Ongoing Construction
46
Estimated
Total Cost
$ 16,466,670
24,005,154
28,359,292
65,000
62,244,000
1,980,000
2,136,883
13,484,661
32,803
32,011,817
12,598,185
13,626,866
4,512,492
53,385
672,250
2,839,311
3,863,701
2,497,916
14,643,308
4,242,566
Expenditures
Incurred to
06/30/09
$
400,177
7,538,793
360,394
50,183
648,000
644,792
702,337
10,907,967
20,617
11,023,924
6,112
11,448,890
26,993
26,410
275,171
2,009,952
1,359,611
2,007,057
10,404,507
89,538
Estimated
Future
Expenditures
$ 16,066,493
16,466,361
27,998,898
14,817
61,596,000
1,335,208
1,434,546
2,576,694
12,186
20,987,893
12,592,073
2,177,976
4,485,499
26,975
397,079
829,359
2,504,090
490,859
4,238,801
4,153,028
$ 240,336,260
$
$ 180,384,835
59,951,425
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 6. INTERFUND RECEIVABLES, PAYABLES AND TRANSFERS
The composition of interfund balances in the fund financial statements as of June 30, 2009, is as follows:
General Fund
Other Governmental Funds
Totals
$
Receivable
4,235,173
-
$
Payable
4,235,173
$
4,235,173
$
4,235,173
The primary interfund transactions at year-end included amounts due to the General Fund from Other
Governmental Funds for expenditures made by the funds prior to receiving reimbursement from the
federal, state or local sources.
The following is a summary of the District’s transfers for the year ended June 30, 2009:
Transfers Out
General Fund
Capital Projects Fund
Enterprise Funds
Special Revenue
General
Fund
2,019,772
33,945
$ 2,053,717
Transfers In
Debt Service
Other Gov.
Fund
Funds
$
$ 771,564
4,620,363
-
Enterprise
Funds
$ 153,056
-
$
$ 153,056
4,620,363
47
$
771,564
Total
$
924,620
4,620,363
2,019,772
33,945
$ 7,598,700
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 6. INTERFUND RECEIVABLES, PAYABLES AND TRANSFERS – CONTINUED
The transfers made during the period consisted of the following:
From
To
Amount
General Fund
Other Governmental Funds
General Fund
Enterprise Funds
Capital Projects Fund
Debt Service Fund
4,620,363
Transfer interest earned to
finance debt service costs
associated with construction
projects
Enterprise Fund
General Fund
2,019,772
Transfer revenue in excess of
costs from the After School
Care fund to the General Fund
Special Revenue
General Fund
33,945
Transfer proceeds from sale of
curriculum to the General
Fund
Total Transfers
$
Description
$
48
771,564
To finance costs in excess of
federal allotments for
Headstart; to finance costs in
excess of donations, grants
and user charges in the
Special Events Fund and the
Family Literacy Fund; to
transfer a portion of the Dr
Pepper funds to Food Services
153,056
To fund costs in excess of
revenues for the Employee
Child Care, Concessions, and
Photography Funds
7,598,700
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 7. LONG-TERM DEBT
The following is a summary of the District’s long-term debt for the year ended June 30, 2009
General Obligation Bonds Payable
Accreted Interest
Loss on Advanced Refunding
Premium on Bond Issuance
Obligations
Outstanding
7/1/2008
New
Obligations
Incurred
Obligations
Retired or
Refunded and
Accretion
Obligations
Outstanding
6/30/2009
$ 837,771,087
$ 181,162,148
$ (50,705,656)
$ 968,227,579
271,897
229,176
(34,344)
(19,893,132)
-
1,504,670
58,738,301
90,680
107,656
584,498
(3,481,779)
Capital Lease Obligation
-
227,584
(119,928)
Compensated Absenses
2,181,448
373,407
(172,921)
Arbitrage Liability
1,136,676
-
(566,160)
107,656
2,381,934
570,516
$ 847,452,392
$ 182,576,813
$ (53,576,118)
$ 976,453,087
49
$
466,729
(18,388,462)
23,087,135
25,984,416
Totals
Obligations
Due Within
One Year
-
188,814
$
59,125,451
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 7. LONG-TERM DEBT – CONTINUED
Debt Payable-Governmental Activities
Bonds payable at June 30, 2009, are composed of the following individual issues:
Description
Interest
Rate
Payable
School Building
Unlimited Tax Bonds,
Series 2000
4.88%
to
5.13%
School Building
Refunding Bonds,
Unlimited Tax Bonds
Series 2001
4.32%
to
4.42%
School Building
Unlimited Tax Bonds,
Series 2002
Amounts
Original
Issue
$
85,000,000
Bonds
Outstanding at
July 1, 2008
$
17,910,000
Bonds
Outstanding at
June 30, 2009
Issued
(Retired)
$
(5,625,000)
$
12,285,000
Capital
Appreciation
Accretion
$
-
264,705,000
118,025,000
(14,475,000)
103,550,000
-
4.10%
to
5.10%
128,900,000
40,470,000
(1,400,000)
39,070,000
-
Unlimited Tax Refunding
& Improvement Bonds
Series 2003
2.00%
to
5.25%
119,310,000
92,225,000
(9,095,000)
83,130,000
-
Unlimited Tax
Refunding Bonds
Series 2004
2.00%
to
5.00%
112,080,000
90,175,000
(9,465,000)
80,710,000
-
School Building
Unlimited Tax Bonds,
Series 2004
3.25%
to
5.00%
71,420,000
64,075,000
(2,650,000)
61,425,000
-
56,805,000
-
63,410,000
-
121,805,000
-
Unlimited Tax
Refunding Bonds
Series 2005
5.00%
56,805,000
56,805,000
70,535,000
65,970,000
-
School Building
Unlimited Tax Bonds
Series 2006
4.50%
to
5.75%
Unlimited Tax Refunding
Current Interest Bonds
Series 2006
5.00%
to
5.00%
121,805,000
121,805,000
School Building
Refunding Capital
Appreciation Bonds
Series 2006
3.52%
to
4.05%
7,375,443
4,396,087
(415,656)
3,980,431
School Building
Unlimited Tax Bonds
Series 2007
4.50%
to
5.00%
76,670,000
74,330,000
(2,740,000)
71,590,000
-
School Building
Unlimited Tax Bonds
Series 2008
3.00%
to
5.00%
58,280,000
58,280,000
(2,280,000)
56,000,000
-
Unlimited Tax
Refunding Bonds
Series 2008
3.25%
to
4.60%
33,305,000
33,305,000
33,305,000
-
School Building
Current Interest Bonds
Series 2008A
5.00%
to
5.25%
177,465,000
-
177,465,000
177,465,000
-
3,697,148
-
3,697,148
3,697,148
130,456,492
$ 968,227,579
School Building
Capital Appreciation Bonds
Series 2008A
(2,560,000)
-
-
415,332.00
2.60%
Totals
$
50
837,771,087
$
51,397
$
466,729
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 7. LONG-TERM DEBT – CONTINUED
Debt Payable-Governmental Activities – Continued
The following table summarizes the annual debt service requirements of the outstanding debt issues at
June 30, 2009, to maturity:
2010
2011
2012
2013
2014
2015-2019
2020-2024
2025-2029
2030-2034
$
$
Bond
Principal
58,738,301
61,323,754
62,587,775
64,651,935
66,520,923
263,861,620
176,875,000
123,180,000
90,955,000
$
968,694,308
$
Bond
Interest
48,885,705
43,905,192
40,932,783
37,873,824
34,815,361
130,636,968
73,291,619
41,100,927
12,457,150
463,899,529
$
$
Totals
107,624,006
105,228,946
103,520,558
102,525,759
101,336,284
394,498,588
250,166,619
164,280,927
103,412,150
1,432,593,837
The District issued $179,999,984 in Series 2008A unlimited tax bonds in December 2008 to be used for
new construction. As of June 30, 2008, $310,000,000 of bonds were authorized by bond election and
not issued.
As of June 30, 2009, the principal balance of all defeased bonds outstanding was $226,995,000.
Original losses on refunding were $24 million of which $18.4 million is unamortized and reported in the
Statement of Net Assets as a reduction in the long-term debt. Unamortized bond premiums of $23
million are reported in the Statement of Net Assets as an increase in the long-term debt.
Other Long-Term Debt
Arbitrage - The Federal Tax Reform Act of 1986 requires issuers of tax-exempt debt to make payments
to the United States Treasury of investment income received at yields that exceed the issuer’s taxexempt borrowing rates. The U.S. Treasury requires payment for each issue every five years.
Arbitrage liability for tax-exempt debt subject to the Tax Reform Act issued through June 30, 2009,
amounted to $570,516. The estimated liability is updated annually for any tax-exempt issuances or
changes in yields until such time payment of the calculated liability is due.
Compensated Absences - Certain employees are entitled to receive accrued vacation pay in a lumpsum cash payment upon termination of employment with the District. The net increase of $200,486
over the prior fiscal year represents the recorded liability for employees vesting in accumulated
vacation pay. The general fund and special revenue funds are used to liquidate compensated
absences.
51
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 8. RISK MANAGEMENT
The District is exposed to various risks related to theft of, damage to and destruction of assets; errors and
omissions; and natural disasters. The District’s risk management program encompasses various means of
protecting the District against losses through policies with commercial insurance carriers or through selfinsurance. Settled claims have not exceeded insurance coverage in any of the previous five fiscal years.
Workers’ Compensation
The District maintains a self-insurance program for workers’ compensation. Contributions are paid from
all governmental and proprietary funds to the Workers’ Compensation Internal Service Fund from which
all claims and administrative expenses are paid. The District maintains a catastrophic loss insurance
policy for catastrophic losses exceeding $350,000 per occurrence up to statutory limit of liability.
An accrual for incurred but not reported claims in the amount of $1,634,000 has been recorded in the
fund as of June 30, 2009. Claims payable, including an estimate of claims incurred but not reported,
was actuarially determined based on the District’s historical claims experience and an estimate of the
remaining liability on known claims.
Workers’ Compensation Fund changes in claims payable for the years ended June 30, 2009 and
June 30, 2008:
Claims payable, beginning of fiscal year
$
Incurred claims and claim adjustment expenses
Claim payments during the year
Claims payable, end of fiscal year
$
June 30, 2009
1,460,000
$
June 30, 2008
1,408,000
1,509,822
1,240,054
(1,335,822)
(1,188,054)
1,634,000
$
1,460,000
Health Benefits
The District maintains a program for health insurance which includes self-funded plans for three
medical options, the alternate option, two dental plans and District provided term life insurance. All
other plans are fully insured through insurance plans. Contributions are paid from all governmental and
proprietary funds to the Health Benefits Internal Service Fund from which all claims and administrative
expenses are paid. During the year ended June 30, 2009, the District funded benefit credits of $259
per month per full time employee to the health insurance plan. Claims administration and consultant
services are provided by a third-party administrator for the self-funded plans. The District maintains
both aggregate and individual stop loss coverage. Individual stop loss coverage is for catastrophic
losses exceeding $300,000 per claim.
Medical and dental premiums are held by the District for the self-funded plans for payment of claims
processed by CIGNA, contract administrator for medical and dental claims, and WHP Healthcare
Initiatives, Inc., the pharmacy benefit manager.
An accrual for incurred but not reported claims in the amount of $2,299,976 has been recorded in the
fund as of June 30, 2009. Claims payable, including an estimate of claims incurred but not reported,
was actuarially determined based on an estimate of the remaining liability on known claims. As of June
30, 2009, the fund had net assets of $8,109,053.
52
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 8. RISK MANAGEMENT – CONTINUED
Health Benefits – Continued
Health Benefits Fund changes in claims payable for the years ended June 30, 2009 and June 30, 2008:
Claims payable, beginning of fiscal year
June 30, 2009
$
3,750,831
June 30, 2008
$
3,783,211
32,015,236
30,311,288
(33,466,091)
(30,343,668)
Incurred claims and claim adjustment expenses
Claim payments during the year
Claims payable, end of fiscal year
$
2,299,976
$
3,750,831
Property, Casualty, General Liability, Professional Liability and Unemployment
The District purchases commercial policies which include general liability, property and auto insurance.
However, the District has established a self-funded internal service fund to pay the cost of deductibles
associated with all insurance policies, except for workers compensation and health care. There have
been no significant reductions in insurance coverage from coverage in the prior year for any category of
risk. The deductible for property self-insurance is $100,000 with no deductible on auto insurance. In
addition, the District purchases professional legal liability insurance. The District must pay the first
$100,000 on each liability claim.
The District maintains a self-insurance program for unemployment benefits and deductibles for the
professional liability. An accrual for incurred but not reported claims in the amount of $127,760 has
been recorded as of June 30, 2009.
Unemployment Benefits and Professional Liability, Insurance Self Funded changes in claims payable
for the years ended June 30, 2009 and June 30, 2008:
Claims payable, beginning of fiscal year
$
Incurred claims and claim adjustment expenses
Claim payments during the year
Claims payable, end of fiscal year
$
53
June 30, 2009
358,724
$
June 30, 2008
205,168
605,405
477,973
(637,735)
(324,417)
326,394
$
358,724
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 9. EMPLOYEES’ RETIREMENT PLAN AND RETIREE HEALTH PLAN
Retirement Plan Description
The District’s employees are covered by the Teacher Retirement System of Texas (TRS). TRS, a
public employee retirement system (PERS), is a multiple-employer defined benefit pension plan. It is a
cost sharing PERS with one exception: all risks and costs are not shared by the District but are the
liability of the State of Texas. By statute, the State of Texas contributes to the retirement system an
amount equal to the current authorized rate multiplied by the aggregate annual compensation of all
members of the retirement system during that fiscal year. The District’s covered payroll for the year
ended June 30, 2009, was $312,474,500. For members of the retirement system entitled to the State’s
statutory minimum salary certain school personnel, the District pays the State’s contribution on the part
of the member’s salary that exceeds the statutory minimum.
Types of Employees Covered
All members of public state-supported educational institutions in Texas who are employed for one-half
or more of the standard workload and who are not exempted from membership under the Texas
Government Code are covered by the plan.
Benefit Provisions and Service Requirements
TRS administers retirement and disability annuities and death and survivor benefits to employees and
beneficiaries of employees of the public school system of Texas. It operates primarily under the
provisions of the Texas Constitution Article XVI, Section 67 and the Texas Government Code, Title 8,
Subtitle C, Chapter 803 and 805, respectively. Service requirements are as follows:
Normal - Age 65 with 5 or more years of service credit, or at least age 60 and the sum of member’s age
and years of credit equals or exceeds 80, with at least five years of service.
Reduced – If a member prior to September 1, 2007, age 55 with 5 or more years of service credit, or
any age below 50 with 30 or more years of credited service. If a member on or after September 1,
2007, at least age 55 with five or more years of service credit; your age and service credit total 80 but
age is less than 60; or 30 years of service credit and ages is less than 60.
Members are fully vested after five years of creditable service and are entitled to any benefit for which
eligibility requirements have been met.
Funding Policy
State law provides for a state contribution rate of 6.58% and a member contribution rate of 6.4%. The
State of Texas contributes 6.58% of members’ eligible gross earnings, except for those District
employees subject to the statutory minimum rules and those employees being paid from and
participating in federally funded programs. The statutory minimum requirements are based on the
State of Texas minimum teacher schedule and then adjusted based on local tax rates. For employees
paid by federal programs, the federal programs are required to contribute the state’s portion.
54
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 9. EMPLOYEES’ RETIREMENT PLAN AND RETIREE HEALTH PLAN – CONTINUED
Funding Policy – Continued
Contribution requirements are not actuarially determined but are legally established each biennium
pursuant to the following state funding policy: (1) the state contribution requires the legislature to
establish a member contribution rate of not less than 6% of the member’s annual compensation and a
state contribution of not less than 6% of the member’s annual compensation rate and not more than
10% of the aggregate annual compensation of all members of the system during the fiscal year, (2) a
state statute prohibits benefit improvements or contribution reductions if, as a result of the particular
actions, the time required to amortize TRS’s unfunded actuarial liabilities would be increased to a
period that exceeds 31 years, or if the amortization period exceeds 31 years, the period would be
increased by such action.
Retiree Health Plan
Plan Description
The District contributes to the Texas Public School Retired Employees Group Insurance Program
(TRS-Care), a cost-sharing multiple-employer defined benefit post-employment health care plan
administered by the Teacher Retirement System of Texas. TRS-Care Retired Plan provides health
care coverage for certain persons (and their dependents) who retired under the Teacher Retirement
System of Texas. The statutory authority for the program is Texas Insurance Code, Chapter 1575.
Section 1575.052 grants the TRS Board of Trustees the authority to establish and amend basic and
optional group insurance coverage for participants.
Funding Policy
Contribution requirements are not actuarially determined but are legally established each biennium
by the Texas Legislature. Texas Insurance code, Sections 1575.202, 203 and 204 establish state,
active employee, and public school contributions, respectively. The State of Texas and active
public school employee contribution rates were 1.0% and 0.65% of the public school payroll,
respectively, with school districts contributing a percentage of payroll set at 0.55%. Per Texas
Insurance Code, Chapter 1575, the public school contribution may not be less than 0.25% or
greater than 0.75% of the salary of each active employee. In addition, the State of Texas
contributed $731,599 in 2009 for on-behalf payments for Medicare Part D.
55
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 9. EMPLOYEES’ RETIREMENT PLAN AND RETIREE HEALTH PLAN – CONTINUED
Contributions Made
Contributions made by the State, the District and its employees; and the District’s covered payroll for
the fiscal years 2009, 2008 and 2007 are as follows:
2009
Covered Payroll
312,474,500
Contributions made by the State
Retirement plan rate
Retiree health care rate
Medicare Part D
District Required and Actual
contributions to TRS & TRS - Care
Employee contributions to TRS &
TRS - Care
2008
298,874,176
2007
278,754,055
18,922,208
6.58%
1.00%
731,599
18,323,875
6.58%
1.00%
700,539
15,612,360
6.00%
1.00%
587,844
5,494,958
5,037,376
3,902,524
20,080,789
19,127,931
17,842,186
The contributions made by the State on behalf of the District have been recorded in the governmentwide financial statements and in the fund financial statement of the General Fund as both state
revenues and payroll expenditures. These contributions are the legal responsibility of the State.
TRS issues a publicly available financial report that includes financial statements and required
supplementary information for the defined benefit pension plan and TRS-Care. This report may be
obtained by contacting the TRS Communications Department, 1000 Red River Street, Austin, Texas
78701.
NOTE 10. RECAPTURE PAYMENT
Intergovernmental Charges include an amount of $91,420,973 representing recapture payments made in
accordance with the state school finance law. The state school finance law has capped the amount of
property value per student that can be retained by local districts at $374,200 per student. The District’s
property value of $514,575 per weighted average daily attendance is significantly higher than the state
mandated limit. The amount of tax revenue generated by the excess property value over the state
mandated limit is recaptured by the state. The formula for this expense is based on prior taxable value
using current year tax collections and current year WADA (weighted average daily attendance). The
District’s recapture payment for 2008-09 of $89,266,106 increased by $8,803,462 from 2008-09 due to an
increase in the tax rate from $1.02 to $1.04 and due to the increase in the property value that is retained by
the District. Due to prior year adjustments and final settle ups, the District made additional payments of
$2,154,867. Final settle up for 2008-09 takes place well after the District’s fiscal year end and may result in
a refund or payable of additional amounts.
56
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 11. COMMITMENTS AND CONTINGENCIES
The District received financial resources from numerous federal and state governmental agencies in the
form of grants. The disbursement of funds received under these programs generally requires compliance
with terms and conditions specified in the grant agreements, subject to audit by the grantor agencies and
the Texas Education Agency. Any disallowed claims resulting from such audits could become a liability of
the General Fund. However, in the opinion of management, any such disallowed claims, if any, will not
have a material effect on any of the financial statements of the individual fund types included herein or on
the overall financial position of the District at June 30, 2009.
The District is the defendant in a number of lawsuits arising principally in the normal course of operations.
In the opinion of the administration, the outcome of these lawsuits will not have a material adverse effect on
the accompanying combined financial statements. A provision for losses has been recorded in the selffunded internal service fund to pay the cost of deductibles associated with the District’s professional legal
liability insurance.
The District is party to several operating leases for the rental of copier machines and portable buildings.
These leases are for various terms with expiration dates through 2010. Payments under the leases for the
year ended June 30, 2009 totaled $1,922,437. Future obligations under the leases are as follows:
2010
2011
2012
2013
2014
$
$
$
$
$
1,284,276
1,148,218
1,148,218
1,148,218
765,479
NOTE 12. SHARED SERVICE ARRANGEMENTS
The District is the fiscal agent for a Shared Service Arrangement (SSA) which provides deaf education
services to member districts whose students are enrolled in the Regional Day School Program for the Deaf
(RDSPD). In addition to the District, other member districts include Allen ISD, Collin County Special
Education Cooperative (CCSEC), Celina ISD, Coppell ISD, Frisco ISD, McKinney ISD, Lovejoy ISD,
Princeton ISD, Richardson ISD and Wylie ISD. The District, acting as the fiscal agent, receives monies
from the granting agencies and administers the program. The fiscal agent is responsible for employment of
personnel, budgeting, accounting and reporting. According to guidance provided in TEA’s Resource
Guide, the District has accounted for the activities of the SSA in the appropriate Special Revenue Funds.
Additionally, the SSA is accounted for using Model #2 in the Accounting and Reporting Treatment
Guidance section of the Resource Guide, Update 13.0.
According to the SSA agreement, costs incurred by the RDSPD over and above the amount of state and
federal funds received shall be divided among the member districts using a weighted formula based on
student services, time and distance to a school.
57
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 12. SHARED SERVICE ARRANGEMENTS – CONTINUED
Expenditures billed to the SSA members as of June 30, 2009 are summarized below:
Allen ISD
CCSEC
Celina ISD
Coppell ISD
Frisco ISD
Lovejoy
McKinney ISD
Plano ISD
Princeton ISD
Richardson ISD
Wylie ISD
Total
$
111,304
45,491
7,783
56,511
127,847
44,224
289,892
509,346
7,424
27,662
98,468
$
1,325,952
NOTE 13. NEW ACCOUNTING PRONOUNCEMENTS
The GASB issued Statement No. 49, Accounting and Financial Reporting for Pollution Remediation
Obligations, which is effective for the District in the fiscal year ending June 30, 2009. This Statement
addresses accounting and financial reporting standards for pollution remediation obligations, which are
obligations to address the current or potential detrimental effects of existing pollution by participating in
pollution remediation activities such as site assessments and cleanups. The District has no remediation
obligations. In the future if there is a situation that applies to this statement, the District will account for it
appropriately.
The GASB issued Statement No. 51, Accounting and Financial Reporting for Intangible Assets, which will
be effective for the District in the fiscal year ending June 30, 2010. The objective of this Statement is to
establish accounting and financial reporting requirements for intangible assets clarifying whether and when
intangible assets should be considered capital assets for financial reporting purposes. The District will
evaluate the impact of the standards on its financial statements and take the necessary steps to
implement.
The GASB issued Statement No. 52, Land and Other Real Estate Held as Investments by Endowments,
which is effective for the District in the fiscal year ending June 30, 2009. This Statement establishes
consistent standards for the reporting of land and other real estate held as investments by essentially
similar entities. The District holds no land or real estate for investment. In the future the district will apply
the Statement when appropriate.
The GASB issued Statement No. 53, Accounting and Financial Reporting of Derivative Instruments, which
will be effective for the District in the fiscal year ending June 30, 2010. This Statement addresses the
recognition, measurement, and disclosure of information regarding derivative instruments entered into by
state and local governments. The District will evaluate the impact of the standard on its financial
statements and will take the necessary steps to implement if appropriate.
The GASB issued Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions,
which will be effective June 15, 2010. The objective of this Statement is to enhance the usefulness of fund
balance information by providing clearer fund balance classifications that can be more consistently applied
and by clarifying the existing governmental fund type definitions. The District will evaluate the impact of the
standard on its Financial Statements and will take the necessary steps to implement it.
58
REQUIRED SUPPLEMENTARY
INFORMATION
59
EXHIBIT G-1
PLANO INDEPENDENT SCHOOL DISTRICT
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL – GENERAL FUND
FOR THE YEAR ENDED JUNE 30, 2009
Actual Amounts
(GAAP BASIS)
Data
Control
Codes
Budgeted Amounts
Original
Final
REVENUES:
5,700
Total Local and Intermediate Sources
5,800
State Program Revenues
5,900
Federal Program Revenues
$
364,507,708
124,319,161
190,000
$
369,896,137
124,090,942
207,375
$ 371,094,906
124,348,597
401,976
Variance With
Final Budget
Positive or
(Negative)
$
1,198,769
257,655
194,601
5,020
Total Revenues
EXPENDITURES:
Current:
0011
Instruction
0012
Instructional Resources and Media Services
0013
Curriculum and Instructional Staff Development
0021
Instructional Leadership
0023
School Leadership
0031
Guidance, Counseling and Evaluation Services
0032
Social Work Services
0033
Health Services
0034
Student (Pupil) Transportation
0035
Food Services
0036
Extracurricular Activities
0041
General Admininstration
0051
Facilities Maintenance and Operations
0052
Security and Monitoring Services
0053
Data Processing Services
0061
Community Services
Debt Services:
0071
Debt Services - Principal on Capital Lease
Capital Outlay:
0081
Facilities Acquisition and Construction
Intergovernmental:
0091
Contracted Instructional Services Between Schools
0092
Incremental Costs Associated with Chapter 41
0093
Payments to Fiscal Agent/Member District of SSA
0095
Payments to Juvenile Justice Alternative Ed. Prg.
0097
Payments to Tax Increment Fund
0099
Other Intergovermental charges
489,016,869
494,194,454
495,845,479
1,651,025
276,137,866
9,602,291
6,813,033
2,781,048
21,563,941
15,388,494
1,184,013
4,333,144
9,464,326
6,828,438
10,685,112
44,435,358
2,679,809
5,685,971
438,822
273,915,497
9,369,894
7,043,908
3,387,203
21,564,025
15,791,330
1,189,753
4,355,230
9,943,413
900
7,346,165
9,117,479
44,824,136
2,711,385
6,008,905
762,488
266,107,489
8,855,944
6,469,887
2,962,899
21,952,419
15,780,756
1,039,679
4,211,631
9,251,892
6,989,148
8,618,284
40,241,882
2,717,370
5,413,889
610,724
7,808,008
513,950
574,021
424,304
(388,394)
10,574
150,074
143,599
691,521
900
357,017
499,195
4,582,254
(5,985)
595,016
151,764
119,928
(119,928)
682,250
275,171
407,079
87,713,707
1,000,000
236,500
210,000
5,400,000
-
92,432,714
600,000
231,000
210,000
4,834,428
2,200,182
91,420,973
600,000
231,000
155,008
4,834,428
2,200,182
1,011,741
54,992
-
6030
1100
512,581,873
518,522,285
501,060,583
17,461,702
(23,565,004)
(24,327,831)
(5,215,104)
17,040,325
(8,142,786)
8,897,539
(14,667,465)
131,221,926
107,655
5,277,208
(1,202,768)
4,182,095
(20,145,736)
131,221,926
227,584
2,053,717
(924,620)
1,356,681
(3,858,423)
131,221,926
-
Total Expenditures
Excess (Deficiency) of Revenues Over (Under)
Expenditures
OTHER FINANCING SOURCES (USES):
7913
Capital Lease
7915
Transfers In
8,911
Transfer Out (Use)
7,080
Total Other Financing Sources (Uses)
1,200
Net Change in Fund Balances
0100
Fund Balance - July 1 (Beginning)
3,000
Fund Balance - June 30 (Ending)
-
$
60
116,554,461
$
111,076,190
$ 127,363,503
19,112,727
119,929
(3,223,491)
278,148
(2,825,414)
16,287,313
$
16,287,313
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 1. BUDGETS
The District is required by state law to adopt an annual budget for the General Fund, presented on the
modified accrual basis of accounting, which is consistent with GAAP. Annual budgets are also adopted for
the Child Nutrition Program and the Debt Service Fund.
The following procedures are used in establishing the budgetary data reflected in the financial statements:
A. Prior to June 30 of the preceding fiscal year, the District prepares a budget for the next succeeding
fiscal year beginning July 1. The operating budget includes proposed expenditures and the means
of financing them.
B. A meeting of the Board of Trustees is then called for the purpose of adopting the proposed budget
after giving at least ten days and up to 30 days public notice of the meeting.
C. Prior to July 1, the budget is legally enacted through passage of a resolution by the Board of
Trustees.
D. Budget data is filed with the Texas Education Agency as a part of the District’s annual fall
submission to the TEA Public Education Information Management System (PEIMS).
Once a budget is approved, it can be amended at the function and fund level only by approval of a majority
of the members of the Board of Trustees. The function level is the legal level of budgetary control and the
object level is the administrative level of control. Amendments are presented to the Board at its regular
meetings. Each amendment crossing the function level must have Board approval. Such amendments are
made before the fact, are reflected in the official minutes of the Board and are not made after fiscal yearend, as dictated by law.
Each budget is controlled by the budget coordinator at the revenue and expenditure function/object level.
Board approval is not required for amendments by department heads that move monies within a function.
Budgeted amounts are as amended by the Board of Trustees. All budget appropriations lapse at year-end.
NOTE 2. SIGNIFICANT ITEMS
Budget Amendments
During the year, numerous budget amendments are approved by the Board in order to redistribute the
budget to align specific amounts to meet projected actual expenditures. The Board also approves
appropriations of fund balance to meet budgetary needs that may arise after the original budget is
approved.
Significant changes between the original and final budgets in the General Fund include the following:
61
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 2. SIGNIFICANT ITEMS – CONTINUED
Budget Amendments – Continued
Type of Revenue/Expenditure
Local Revenue
General Administration
Community Services
Contracted Instruction Services
Between Schools
Incremental Costs Assoc with
Chapter 41
Other Governmental Charges
Original Budget
$
364,507,708
10,685,112
438,822
Final Budget
$
369,896,137
9,117,479
762,488
Variance
$
5,388,429
(1,567,633)
323,666
87,713,707
92,432,714
4,719,007
1,000,000
-
600,000
2,200,182
(400,000)
2,200,182
The original budget projection for Local Revenue was increased due to the increase in revenue based
on the increase in the assessed final property value over the preliminary value used to set the original
budget and due to the increase in investment earnings during the fiscal year.
The budget for the General Administrative decreased due to the reclassing of the costs of the appraisal
office from General Administration to Other Governmental Charges and the reclassing of certain
expenditures related to the communication office to Community Services.
The Community Services budget increased due to reclassing certain expenditures related to the
communication office from General Administration to Community Services. These expenses relate to
volunteers and the education foundation
The Contracted Instruction Services Between Schools was increased due to adjustments to the
weighted average daily attendance. The budget was also increased due to a prior year adjustment
relating to the final settle up for 2007-08 of $2.2 million
The Incremental Costs Associated with Chapter 41 was decreased due to the change in relationship of
taxes retained by the district and Contracted Instruction Services Between Schools.
The budget for Other Governmental Charges was increased due to the reclassing of the costs of the
appraisal office from General Administration to Other Governmental Charges.
62
PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION
FOR THE YEAR ENDED JUNE 30, 2009
NOTE 2. SIGNIFICANT ITEMS – CONTINUED
Excess Expenditures
The Budgetary Comparison Schedule for the General Fund indicates an excess of expenditures over
appropriations for the year ended June 30, 2009, in three areas. Funds sufficient to provide for the
excess expenditures were made available from current year revenues, and the excess had no impact
on the financial results of the District. The following is a summary of the items:
Type of Expenditure
School Leadership
Data Processing Services
Debt Services - Principal on Capital Lease
Final Budget
$
21,564,025
2,711,385
-
$
Actual
Actual Over Budget
21,952,419
2,717,370
119,928
$
(388,394)
(5,985)
(119,928)
The variances for all three categories are less than 2% of the actual expenditures. Total expenditures
did not exceed the total budget.
63
64
COMBINING AND INDIVIDUAL FUND
STATEMENTS AND SCHEDULES
65
66
EXHIBIT H-1
PLANO INDEPENDENT SCHOOL DISTRICT
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL – DEBT SERVICE FUND
FOR THE YEAR ENDED JUNE 30, 2009
Actual Amounts
(GAAP BASIS)
Data
Control
Codes
Budgeted Amounts
Original
Final
REVENUES:
5700
Total Local and Intermediate Sources
Variance With
Final Budget
Positive or
(Negative)
$ 90,622,899
$ 92,431,229
$ 92,236,684
(194,545)
5020
Total Revenues
EXPENDITURES:
Debt Service:
0071
Debt Service - Principal on Long Term Debt
0072
Debt Service - Interest on Long Term Debt
0073
Debt Service - Bond Issuance Cost and Fees
90,622,899
92,431,229
92,236,684
(194,545)
50,740,000
41,498,206
600,000
50,740,000
41,498,206
2,346,646
50,740,000
39,360,962
1,860,800
2,137,244
485,846
6030
Total Expenditures
1100 Excess (Deficiency) of Revenues Over (Under)
Expenditures
OTHER FINANCING SOURCES (USES):
7915 Transfers In
7080
Total Other Financing Sources (Uses)
92,838,206
94,584,852
91,961,762
2,623,090
(2,215,307)
(2,153,623)
274,922
2,428,545
2,500,000
2,500,000
4,246,646
4,246,646
4,620,363
4,620,363
373,717
373,717
284,693
2,093,023
4,895,285
2,802,262
1200
Net Change in Fund Balances
0100
Fund Blanace - July 1 (Beginning)
40,718,349
40,718,349
40,718,349
3000
Fund Balance - June 30 (Ending)
$ 41,003,042
$ 42,811,372
$ 45,613,634
67
$
2,802,262
PLANO INDEPENDENT SCHOOL DISTRICT
COMBINING BALANCE SHEET
NONMAJOR GOVERNMENTAL FUNDS
JUNE 30, 2009
Data
Control
Codes
ASSETS
1110
1240
1250
1290
1300
1000
Cash and Investments
Due from Other Governments
Accrued Interest
Other Receivables
Inventories
Total Assets
LIABILITIES AND FUND BALANCES
Liabilities:
2110 Accounts Payable
2160 Accrued Wages Payable
2170 Due to Other Funds
2180 Due to Other Governments
2300 Deferred Revenues
2000
240
National
Breakfast and
Lunch Program
289
Other Federal
Special
Revenue Funds
$
6,295,502
173,297
43,561
457,467
193,548
$
5,595,606
-
$
40,103
-
$
34,078
-
$
7,163,375
$
5,595,606
$
40,103
$
34,078
$
31,792
176,757
483,011
$
66,606
1,661,630
3,867,370
-
$
208
39,895
-
$
34,078
-
Total Liabilities
Fund Balances:
Reserved For:
3410 Investments in Inventory
Unreserved Designated For:
3551 Oustanding Encumbrances Special Revenue
Unreserved and Undesignated:
3610 Reported in Special Revenue Funds
3000
Total Fund Balances
4000
Total Liabilities and Fund Balances
691,560
$
379
Other Federal
SSA Special
Revenue Funds
5,595,606
411
Technology
Allotment
40,103
34,078
193,548
-
-
-
150,441
-
-
-
6,127,826
-
-
-
6,471,815
-
-
-
7,163,375
68
$
5,595,606
$
40,103
$
34,078
EXHIBIT H-2
428
High School
Allotment
429
Other State
Special
Revenue Funds
$
-
$
307,358
423,959
-
$
$
-
$
731,317
$
-
$
107,300
1,865
314,763
301,513
-
$
459
Other SSA
Special
Revenue Funds
499
Other Local
Special
Revenue Funds
Total
Nonmajor
Governmental
Funds
944,142
-
$
3,784,265
141
-
$
11,365,345
6,232,965
43,561
457,608
193,548
$
944,142
$
3,784,406
$
18,293,027
$
1,434
430,816
511,892
$
29,227
32,229
13,145
117
1,129
$
236,567
2,303,297
4,235,173
34,195
1,297,545
725,441
944,142
75,847
8,106,777
-
-
-
-
-
-
232,505
382,946
-
5,876
-
3,476,054
9,609,756
-
5,876
-
3,708,559
10,186,250
-
$
731,317
$
944,142
-
$
69
3,784,406
193,548
$
18,293,027
PLANO INDEPENDENT SCHOOL DISTRICT
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES – NONMAJOR GOVERNMENTAL FUNDS
FOR THE YEAR ENDED JUNE 30, 2009
Data
Control
Codes
REVENUES
5700
Total Local and Intermediate Sources
5800
State Program Revenues
5900
Federal Program Revenues
5020
240
National
Breakfast and
Lunch Program
289
Other Federal
Special
Revenue Funds
379
Other Federal
SSA Special
Revenue Funds
411
Technology
Allotment
$
$
$
$
Total Revenues
EXPENDITURES:
Current:
0011
Instruction
0012
Instructional Resources and Media Services
0013
Curriculum and Instructional Staff Development
0021
Instructional Leadership
0023
School Leadership
0031
Guidance, Counseling and Evaluation Services
0032
Social Work Services
0033
Health Services
0034
Student (Pupil) Transporation
0035
Food Services
0036
Extracurricular Activities
0041
General Administration
0051
Facilities Maintenance and Operations
0052
Security and Monitoring Services
0053
Data Processing Services
0061
Community Services
Intergovernmental:
0093
Payments to Fiscal Agent/Member Districts of
12,483,632
485,579
6,362,750
241,331
1,510,704
-
19,331,961
17,624,803
241,331
1,510,704
19,079,139
249,862
-
12,394,337
1,596,243
701,277
1,076,582
267,407
284,794
161,721
34,857
83,199
836
47,910
715,209
147,448
28,296
2,538
42,764
20,054
231
1,428,550
82,154
-
-
6030
Total Expenditures
1100 Excess (Deficiency) of Revenues Over (Under)
Expenditures
OTHER FINANCING SOURCES (USES):
7915
Transfers In
8911
Transfers out
68,388
17,556,415
509,346
19,329,001
-
17,873,718
2,960
-
241,331
1,510,704
(248,915)
-
-
264,800
-
248,915
-
-
-
248,915
-
-
7080
Total Other Financing Sources (Uses)
264,800
1200
Net Change in Fund Balance
267,760
-
-
-
0100
Fund Balance - July 1 (Beginning)
6,204,055
-
-
-
3000
Fund Balance - June 30 (Ending)
$
6,471,815
70
$
-
$
-
$
-
EXHIBIT H-3
428
High School
Allotment
$
4,031,223
-
429
Other State
Special
Revenue Funds
459
Other SSA
Special
Revenue Funds
499
Other Local
Special
Revenue Funds
$
$
$
274,338
2,895,831
-
2,992,761
-
$
15,819,119
10,233,909
24,160,496
4,031,223
1,310,572
3,170,169
2,992,761
50,213,524
4,031,223
-
928,522
6,275
90,214
28,312
6,283
84,268
1,662
115,881
1,576
1,046
323
46,210
3,012,365
2,483
128,009
27,227
85
-
1,392,315
10,351
269,973
108,098
439,524
25,300
146
6,563
2,097
10,315
355,818
166,730
161,937
153,453
296,637
51,908
23,334,760
16,626
1,987,209
968,234
445,807
1,256,141
267,553
293,019
279,699
19,125,887
460,117
167,566
459,794
153,776
378,791
813,558
-
-
4,031,223
$
1,310,572
-
Total
Nonmajor
Governmental
Funds
-
1,310,572
-
3,170,169
509,346
3,451,165
50,917,883
-
-
-
(458,404)
(704,359)
-
-
-
257,849
(33,945)
771,564
(33,945)
-
-
-
223,904
737,619
-
-
-
(234,500)
33,260
-
5,876
-
-
$
5,876
$
-
3,943,059
$
71
3,708,559
10,152,990
$
10,186,250
EXHIBIT H-4
PLANO INDEPENDENT SCHOOL DISTRICT
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL – CHILD NUTRITION PROGRAM
FOR THE YEAR ENDED JUNE 30, 2009
Data
Control
Codes
Actual Amounts
(GAAP BASIS)
Variance With
Final Budget
Positive or
(Negative)
$
$
Budgeted Amounts
Original
Final
REVENUES:
5700
Total Local and Intermediate Sources
5800
State Program Revenues
5900
Federal Program Revenues
$ 12,515,771
507,889
6,054,325
$
12,515,771
507,889
6,097,825
12,483,632
485,579
6,362,750
(32,139)
(22,310)
264,925
5020
Total Revenues
EXPENDITURES:
0035
Food Services
0051
Facilities Maintenance and Operations
19,077,985
19,121,485
19,331,961
210,476
19,541,512
247,750
20,117,117
257,672
19,079,139
249,862
1,037,978
7,810
6030
19,789,262
20,374,789
19,329,001
1,045,788
2,960
1,256,264
Total Expenditures
1100
Excess (Deficiency) of Revenues Over (Under)
Expenditures
OTHER FINANCING SOURCES (USES)
7915
Transfers In
7080
Total Other Financing Sources (Uses)
1200
Net Change in Fund Balances
0100
Fund Balance - July 1 (Beginning)
3000
(711,277)
Fund Balance - June 30 (Ending)
(1,253,304)
225,000
271,406
264,800
(6,606)
225,000
271,406
264,800
(6,606)
(486,277)
(981,898)
267,760
1,249,658
6,204,055
6,204,055
$
72
(486,277)
$
(981,898)
$
6,471,815
$
7,453,713
EXHIBIT H-5
PLANO INDEPENDENT SCHOOL DISTRICT
COMBINING STATEMENT OF NET ASSETS
NONMAJOR ENTERPRISE FUNDS
JUNE 30, 2009
Employee
Child Care
ASSETS
Current Assets:
Cash and Investments
Accrued Interest
Other Receivables
$
Total Current Assets
Concessions
Photography
$
$
$
38,143
Noncurrent Assets:
Capital Assets:
Furniture and Equipment
Depreciation on Furniture and Equipment
Total Noncurrent Assets
Total Assets
LIABILITIES
Current Liabilities:
Accounts Payable
Accrued Wages Payable
Deferred Revenues
Total Liabilities
NET ASSETS
Investments in Capital Assets
Unrestricted Net Assets
Total Net Assets
38,143
-
After School
Care
435,183
-
-
-
-
30,103
209
1,824
3,153
34,990
-
46,865
36,189
352,129
-
38,143
435,183
-
$
73
-
$
32,680
5,445
(4,901)
-
544
96
506,102
96
50,114
71,179
352,129
96
473,422
-
544
32,136
$
-
271,913
1,626
232,019
505,558
-
544
32,680
$
96
5,445
(4,901)
435,183
-
96
-
32,136
38,143
$
203,571
1,417
230,195
Total
Nonmajor
Enterprise
Funds
544
32,136
$
32,680
EXHIBIT H-6
PLANO INDEPENDENT SCHOOL DISTRICT
COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET
ASSETS
NONMAJOR ENTERPRISE FUNDS
FOR THE YEAR ENDED JUNE 30, 2009
Employee
Child Care
OPERATING REVENUES
Local and Intermediate Sources
$
Total Operating Revenues
After School
Care
530,511
$
7,144,165
Concessions
$
239,156
Total
Nonmajor
Enterprise
Funds
Photography
$
-
$ 7,913,832
530,511
7,144,165
239,156
-
7,913,832
OPERATING EXPENSES:
Payroll Costs
Professional and Contracted Services
Supplies and Materials
Other Operating Costs
516,024
40,352
23,907
35,660
4,080,134
156,112
73,867
840,522
98,668
2,232
99,241
35,879
7,487
-
4,702,313
198,696
197,152
912,061
Total Operating Expenses
615,943
5,150,635
236,020
7,624
6,010,222
(85,432)
1,993,530
3,136
(7,624)
1,903,610
Operating Income (Loss)
137
NONOPERATING REVENUES (EXPENSES):
Earnings from Temporary Deposits & Investments
-
26,242
-
-
26,242
Total Nonoperatinng Revenues (Expenses)
-
26,242
-
-
26,242
Income (Loss) Before Transfers
(85,432)
2,019,772
3,136
(7,624)
1,929,852
Transfers In
Transfers Out
85,432
-
(2,019,772)
60,000
7,624
153,056
(2,019,772)
Change in Net Assets
-
-
63,136
-
63,136
Total Net Assets - July 1 (Beginning)
-
-
(30,456)
-
(30,456)
Total Net Assets - June 30 (Ending)
$
-
$
74
-
$
32,680
$
-
$
32,680
EXHIBIT H-7
PLANO INDEPENDENT SCHOOL DISTRICT
COMBINING STATEMENT OF CASH FLOWS
NONMAJOR ENTERPRISE FUNDS
FOR THE YEAR ENDED JUNE 30, 2009
Employee
Child Care
CASH FLOW FROM OPERATING ACTIVITIES
Cash Received from User Charges
Cash Payments to Employees for Services
Cash Payments for Suppliers
Cash Payments for Other Operating Expenses
$
Net Cash Provided by (Used for) Operating Activities
530,511
(486,448)
(67,367)
(35,660)
After School
Care
$
7,227,456
(4,074,255)
(184,812)
(840,522)
Concessions
$
237,332
(98,808)
(101,473)
(66,739)
Total
Nonmajor
Enterprise
Funds
Photography
$
(7,487)
(41)
-
$
7,995,299
(4,666,998)
(353,693)
(942,921)
(58,964)
2,127,867
(29,688)
(7,528)
2,031,687
85,432
-
(2,019,772)
60,000
-
7,624
-
153,056
(2,019,772)
85,432
(2,019,772)
60,000
7,624
(1,866,716)
-
(113,764)
37,583
(11,307)
(209)
-
(125,071)
37,374
-
(76,181)
(11,516)
-
(87,697)
26,468
31,914
18,796
96.00
77,274
Cash and Cash Equivalents at Beginning of the Year
11,675
43,269
-
-
54,944
Cash and Cash Equivalents at the End of the Year
38,143
75,183
18,796
-
128,388
11,307
CASH FLOW FROM NON-CAPITAL FINANCING ACTIVITIES
Operating Transfer In
Operating Transfer Out
Net Cash Provided by (Used for) Non-Capital Financing Activities
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of Investment Securities
Interest and Dividends on Investments
Net Cash Provided by Investing Activities
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
Temporary Investment Not in Cash Equivalents
Cash on Balance Sheet
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED BY (USED FOR) OPERATING ACTIVITIES
Opertaing Income (Loss)
Adjustments to Reconcile Operating Income
to Net Cash Provided by (Used for) Operating Activities
Depreciation
Effect of Increases and Decreases in Current
Assets and Liabilities
Decrease (increase) in Receivables
Increase (decrease) in Accounts Payable
Increase (decrease) in Accrued Wages Payable
Increase (decrease) in Deferred Revenues
Increase (decrease) in Due to Other Funds
Net Cash Provided by (Used for) Operating Activities
96
132,218
-
139,695
$
38,143
$
203,571
$
30,103
$
96
$
271,913
$
(85,432)
$
1,993,530
$
3,136
$
(7,624)
$
1,903,610
$
75
-
-
(3,108)
29,576
-
(5,103)
45,167
5,879
88,394
-
(58,964)
$
2,127,867
$
545
-
545
(1,824)
(140)
(31,405)
-
(6,927)
42,059
35,411
88,394
(31,405)
(29,688)
96
$
(7,528)
$
2,031,687
PLANO INDEPENDENT SCHOOL DISTRICT
COMBINING STATEMENT OF NET ASSETS
INTERNAL SERVICE FUNDS
JUNE 30, 2009
752
753
Health
Benefits
Self - Funded
Print Shop
ASSETS
Current Assets:
Cash and Investments
Accrued Interest
Other Receivables
Deferred Expenses
Other Current Assets
$
Total Current Assets
586,166
4,056
-
$
590,222
Noncurrent Assets:
Capital Assets:
Furniture and Equipment
Depreciation on Furniture and Equipment
Total Noncurrent Assets
Total Assets
LIABILITIES
Current Liabilities
Accounts Payable
Accrued Expenses
Total Liabilties
NET ASSETS
Investments in Capital Assets
Unrestricted Net Assets
Total Net Assets
$
76
10,444,265
72,268
270,128
25,000
10,811,661
52,468
(18,181)
-
34,287
-
624,509
10,811,661
66,752
-
402,632
2,299,976
66,752
2,702,608
34,287
523,470
8,109,053
557,757
$
8,109,053
EXHIBIT H-8
772
Workers'
Compensation
Self-Funded
$
6,547,945
45,308
-
775
Sign
Shop
$
6,593,253
252,375
1,746
-
$
254,121
Total
Internal
Service Funds
694,013
4,802
1,070,000
-
$
18,524,764
128,180
1,070,000
270,128
25,000
1,768,815
$
20,018,072
-
8,672
(6,070)
-
61,140
(24,251)
-
2,602
-
36,889
6,593,253
256,723
1,768,815
20,054,961
15,952
1,634,000
-
39,783
326,394
525,119
4,260,370
1,649,952
-
366,177
4,785,489
1,402,638
36,889
15,232,583
4,943,301
$
786
Insurance
Claims
Self-Funded
4,943,301
2,602
254,121
$
256,723
$
1,402,638
77
$
15,269,472
PLANO INDEPENDENT SCHOOL DISTRICT
COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES
IN FUND NET ASSETS
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED JUNE 30, 2009
752
753
Health
Benefits
Self-Funded
Print Shop
OPERATING REVENUES
Local and Intermediate Services
Insurance proceeds
$
Total Operating Revenues
OPERATING EXPENSES
Payroll Costs
Professional and Contracted Services
Supplies and Materials
Other Operating Costs
Total Operating Expenses
Operating Income (Loss)
1,466,921
$
1,466,921
32,750,588
285,001
805,451
392,658
4,286
348,289
32,156,921
12,650
3,254,057
1,487,396
35,771,917
(20,475)
NONOPERATING REVENUES (EXPENSES)
Insurance Recovery
Earnings from Temporary Deposits & Investments
Total Nonoperating Revenues (Expenses)
Change in Net Assets
(3,021,329)
11,961
239,314
11,961
239,314
(8,514)
Total Net Assets - July 1 (Beginning)
(2,782,015)
566,271
Total Net Assets - June 30 (Ending)
$
78
32,750,588
557,757
10,891,068
$
8,109,053
EXHIBIT H-9
772
Workers'
Compensation
Self-Funded
$
-
775
Sign
Shop
$
-
$
786
Insurance
Claims
Self-Funded
27,728
$
20,832
Total
Internal
Service Funds
$
34,266,069
27,728
20,832
34,266,069
507,385
1,151,722
24,060
498,056
6,539
867
435,530
12,881
161,388
1,140,675
34,549,624
448,788
3,918,654
2,181,223
7,406
609,799
40,057,741
(2,181,223)
20,322
(588,967)
(5,791,672)
166,037
5,301
1,070,000
23,531
1,070,000
446,144
166,037
5,301
1,093,531
1,516,144
(2,015,186)
25,623
504,564
(4,275,528)
6,958,487
231,100
898,074
19,545,000
4,943,301
$
256,723
$
1,402,638
79
$
15,269,472
PLANO INDEPENDENT SCHOOL DISTRICT
COMBINING STATEMENT OF CASH FLOWS
INTERNAL SERVICE FUNDS
FOR THE YEAR ENDED JUNE 30, 2009
CASH FLOW FROM OPERATING ACTIVITIES
Cash Received from User Charges
Cash Payments to Employees for Services
Cash Payments for Insurane Claims
Cash Payments for Suppliers
Cash Payments for Other Operating Expenses
$
Net Cash Provided by (Used for) Operating Activities
752
753
Print Shop
Health
Benefits
Self-Funded
1,469,202
(285,001)
(1,203,903)
-
$
32,784,558
(348,289)
(33,466,091)
(154,335)
(3,111,094)
(19,702)
(4,295,251)
(127,401)
11,493
(731,390)
254,494
(115,908)
(476,896)
(135,610)
(4,772,147)
Cash and Cash Equivalents at Beginning of the Year
379,954
9,095,151
Cash and Cash Equivalents at the End of the Year
244,344
4,323,004
Temporary Investment Not in Cash Equivalents
341,822
6,121,261
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from Sales and Maturies of Securities
Purchase of Investment Securities
Interest and Dividends on Investments
Net Cash Provided by (used for) Investing Activities
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
Cash on Balance Sheet
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
PROVIDED BY (USED FOR) OPERATING ACTIVITIES
Opertaing Income (Loss)
Adjustments to Reconcile Operating Income
to Net Cash Provided by (Used for) Operating Activities
Depreciation
Effect of Increases and Decreases in Current
Assets and Liabilities
Decrease (increase) in Receivables
Decrease (increase) in Prepaid Expenses
Increase (decrease) in Accounts Payable
Increase (decrease) in Accrued Wages Payable
Increase (decrease) in Accrued Expenses
Net Cash Provided by (Used for) Operating Activities
80
$
586,166
$
10,444,265
$
(20,475)
$
(3,021,329)
4,286
-
2,281
(5,794)
$
(19,702)
33,970
(32,745)
175,708
(1,450,855)
$
(4,295,251)
EXHIBIT H-10
$
772
775
786
Workers'
Compensation
Self - Funded
Total
Sign
Shop
Insurance
Claims
Self-Funded
(507,991)
(1,335,822)
(47,210)
(100,854)
$
Total
Internal
Service Funds
27,728
(6,539)
-
20,832
(637,735)
-
21,189
(616,903)
(6,902,544)
(744,661)
171,251
(55,819)
4,921
67,229
24,207
67,229
(1,659,271)
466,366
(573,410)
(50,898)
91,436
(1,125,676)
(2,565,287)
(29,709)
(525,467)
(8,028,220)
5,271,863
142,483
807,402
15,696,853
2,706,576
112,774
281,935
7,668,633
3,841,369
139,601
412,078
10,856,131
(1,991,877)
$
34,302,320
(1,141,281)
(35,439,648)
(1,411,987)
(3,211,948)
$
6,547,945
$
252,375
$
694,013
$
18,524,764
$
(2,181,223)
$
20,322
$
(588,967)
$
(5,791,672)
-
867
15,952
(606)
174,000
$
(1,991,877)
-
$
21,189
5,153
4,394
(32,330)
$
(616,903)
81
36,251
(32,745)
190,260
(606)
(1,309,185)
$
(6,902,544)
EXHIBIT H-11
PLANO INDEPENDENT SCHOOL DISTRICT
STATEMENT OF CHANGES IN ASSETS AND LIABILITIES
ALL AGENCY FUNDS
FOR THE YEAR ENDED JUNE 30, 2009
STUDENT ACTIVITY FUNDS
Assets:
Cash and Temporary Investments
Accrued Interest
Other Receivables
Total Assets
Liabilities:
Accounts Payable
Due to Student Groups
Total Liabilities
Balance
July 1
2008
Additions
Deductions
$ 3,187,958
1,211
5,189
$ 4,652,393
159
(3,835)
$ 4,664,321
-
$
3,176,030
1,370
1,354
$ 3,194,358
$ 4,648,717
$ 4,664,321
$
3,178,754
$
41,559
3,152,799
$ 4,655,814
4,658,936
$ 4,575,012
4,755,342
$
122,361
3,056,393
$ 3,194,358
$ 9,314,750
$ 9,330,354
$
3,178,754
82
Balance
June 30
2009
REQUIRED
TEXAS EDUCATION AGENCY
REPORT SECTION
83
PLANO INDEPENDENT SCHOOL DISTRICT
SCHEDULE OF DELINQUENT TAXES RECEIVABLE
YEAR ENDED JUNE 30, 2009
Tax Rates
Last 10 Years
Ended June 30
2000 & PRIOR
2001
2002
2003
2004
2005
2006
2007
2008
2009
1000
Maintenance
1.4162
1.3858
1.4400
1.4700
1.5000
1.5000
1.5000
1.3300
1.0200
1.0400
Debt Service
0.1630
0.1673
0.1885
0.2334
0.2334
0.2334
0.2334
0.2484
0.2484
0.2634
Assessed/Appraised
Value for School
Tax Purposes
20,572,046,330
22,987,020,613
25,625,181,207
27,170,645,727
27,594,319,479
27,901,712,003
28,921,415,823
30,665,981,311
32,254,750,285
33,810,397,228
Beginning
Balance
July 1, 2008
183,045
214,025
614,184
877,614
873,402
770,724
999,156
1,405,180
6,336,563
Totals
12,273,893
9000 - Portion of Row 1000 for Taxes Paid
into Tax Increment Zone Under Chapter 311, Tax Code
84
$
-
EXHIBIT J-1
Current
Year's
Total Levy
$
454,874,791
Maintenance
Collections
10,108
1,721
2,091
27,926
25,822
127,904
85,925
466,489
3,626,142
352,389,033
Debt Service
Collections
1,163
208
274
4,434
4,018
19,902
13,370
87,125
883,072
89,249,299
Entire
Year's
Adjustments
(42,331)
(82,922)
(421,015)
(434,912)
(345,499)
75,170
(36,456)
(65,114)
(684,434)
(6,863,835)
Ending
Balance
June 30, 2009
129,443
129,174
190,804
410,342
498,063
698,088
863,405
786,452
1,142,915
6,372,624
454,874,791
356,763,161
90,262,865
(8,901,348)
11,221,310
-
$
4,834,428
$
-
Ending Balance 6/30/2009
Add - County Education District Taxes Receivable
$
11,221,310
6,763
Total Delinquent Taxes Receivable 6/30/2009
11,228,073
Less Reserve for Uncollectible Taxes:
General Fund
Debt Service Fund
(2,701,500)
(471,968)
Net Delinquent Balance 6/30/2009
85
$
8,054,605
EXHIBIT J-2
PLANO INDEPENDENT SCHOOL DISTRICT
SCHEDULE OF EXPENDITURES FOR COMPUTATION OF INDIRECT
COST FOR 2009-2010
GENERAL AND SPECIAL REVENUE FUNDS
FOR THE YEAR ENDED JUNE 30, 2009
FUNCTION 41 AND RELATED FUNCTION 53-GENERAL ADMINISTRATION, 99–APPRAISAL DISTRICT COST
Account
Number
611X-6146
6149
6149
6211
6212
6213
621X
6220
6230
6240
6250
6260
6290
6320
6330
63XX
6410
6420
6430
6490
6500
6600
6000
1
(702)
School
Board
Account
Name
PAYROLL COSTS
Leave for Separating Employees in
Fn 41 & 53
Leave - Separating Employees not in
Fn 41 & 53
Legal Services
Audit Services
Tax Appraisal/Collection Appraisal in Fn 99
Other Professional Services
Tuition and Transfer Payments
Education Service Centers
Contr. Maint. and Repair
Utilities
Rentals
Miscellanous Contr.
Textbooks and Reading
Testing Materials
Other Supplies Materials
Travel, Subsistence, Stipends
Ins. And Bonding Costs
Election Costs
Miscellaneous Operating
Debt Service
Capital Outlay
TOTAL
$
2
(703)
Tax
Collections
-
-
-
-
-
-
3
(701)
Supt's
Office
505,347
-
4
(750)
Indirect
Cost
5
(720)
Direct
Cost
4,253,656
1,648,007
-
606,142
-
103,785
7
Miscellaneous
Total
-
-
-
-
6,407,010
606,142
103,785
2,278,193
27,877
31,684
21,668
53,898
1,768,120
220,985
139,874
186,369
59,572
396,047
-
-
$ 12,301,224
600
311
28,683
59,572
42,081
-
2,278,193
-
7,784
22,424
25,271
-
27,877
31,684
1,767,520
190,184
78,753
185,533
300,348
-
21,668
53,898
22,706
10,014
836
28,347
-
131,247
$ 2,278,193
$ 1,166,968
$ 6,939,340
$ 1,785,476
Total expenditures/expenses for General and Special Revenue Funds:
LESS: Deductions of Unallowable Costs
FISCAL YEAR
Total Capital Outlay (6600)
Total Debt & Lease (6500)
Plant Maintenance (Function 51, 6100-6400)
Food (Function 35, 6341 and 6499)
Stipends (6413)
Column 4 (above) - Total Indirect Cost
6
(Other)
-
$
(9)
(10)
(11)
(12)
(13)
(14)
551,978,466
$
1,465,077
40,633,093
8,612,192
$ 6,939,340
SubTotal:
$ 57,649,702
Net Allowed Direct Cost
494,328,764
CUMULATIVE
(8) NOTE A:
Total Cost of Buildings before Depreciation (1520)
Historical Cost of Building over 50 years old
Amount of Federal Money in Building Cost (Net of #16)
Total Cost of Furniture & Equipment before Depreciation (1530 & 1540)
Historical Cost of Furniture & Equipment over 16 years old
Amount of Federal Money in Furniture & Equipment (Net of #19)
$1,315,192 in Function 53 expenditures are included in this report on administrative costs.
$2,200,182 in Function 99 expenditures for appraisal district costs are included in this report on administrative cost.
86
(15)
(16)
(17)
(18)
(19)
(20)
918,918,389
81,736,310
-
EXHIBIT J-3
PLANO INDEPENDENT SCHOOL DISTRICT
FUND BALANCE AND CASH FLOW CALCULATION WORKSHEET
FOR THE YEAR ENDED JUNE 30, 2009
UNAUDITED
1 Total General Fund Balance as of 6/30/09 (Exhibit C-1 object 3000
for the General Fund Only)
2 Total Reserved Fund Balance (from Exhibit C-1 total of object
3400s for the General Fund Only)
3 Total Designated Fund Balance (from Exhibit C-1 total of object
3500s for the General Fund Only)
4 Estimated amount needed to cover fall cash flow deficits in the
General Fund (Net of borrowed funds and funds representing
deferred revenues.)
5 Estimate of one month's average cash disbursements during
the regular school session (9/1/09)-(5/31/10).
6 Estimate of delayed payments from state sources (58xx) including
August payment delays
$ 127,363,503
$ 2,505,517
8,249,851
106,074,093
32,612,474
423,959
7 Estimate of underpayment from state sources equal to variance
between Legislative Payment Estimate (LPE) and District Planning
Estimate (DPE) or District's calculated earned state aid amount.
8 Estimate of delayed payments from federal sources (59xx)
9 Estimate of expenditures to be reimbursed to General Fund from
Capital Projects Fund (uses of General Fund cash after bond
referendum and prior to issuance of bonds)
5,809,006
-
10 Optimum Fund Balance and Cash Flow (Lines 2+3+4+6+6+7+8+9)
11 Excess (Deficit) Undesignated Unreserved General Fund
Balance (Line 1 minus Line 10)
155,674,900
$
87
(28,311,397)
88
STATISTICAL SECTION
(Unaudited)
This section of the Plano Independent School District's comprehensive annual financial report
presents detailed information as a context for understanding what the information in the financial
statements, notes, and required supplementary information says about the District's overall financial
health.
Contents
Page
Financial Trends
These schedules contain trend information to help the reader
understand how the District's financial performance and well - being
have changes over time.
91
Revenue Capacity
These schedules contain information to help the reader assess the
District's most significant local revenue source, property taxes.
98
Debt Capacity
These schedules present information to help the reader assess the
affordability of the District's current levels of outstanding debt and the
ability to issue additional debt in the future.
102
Demographic and Economic Information
These schedules offer demographic and economic indicators to
help the reader understand the enviroment within which the District's
financial activities take place.
105
Operational Information
These schedules contain service and infrastructure data to help the
reader understand how the information in the District's financial report
relates to the services the District provides and activities it performs.
108
Source: Unless otherwise noted, the information in these schedules is derived from the comprehensive
annual financial reports for the relevant year.
89
90
EXHIBIT S-1
PLANO INDEPENDENT SCHOOL DISTRICT
NET ASSETS BY COMPONENT
LAST EIGHT FISCAL YEARS
(Unaudited)
(Accrual Basis of Accounting)
(Amounts Expressed in Thousands)
Fiscal Year
Governmental Activities
Invested in capital assets,
net of related debt
2002
2003
2004 1
2005
$ (15,441)
$ (24,245)
$ (29,827)
$ (14,497)
Restricted
Unrestricted
2006
$
2007
(6,937)
$
6,177
2008
2009
$ 10,868
$ 13,461
5,109
18,940
24,144
28,740
29,922
29,741
34,644
35,000
86,974
91,910
131,755
131,166
146,159
160,607
158,432
150,549
$ 126,072
$ 145,409
$ 169,144
$ 196,525
$ 203,944
$ 199,010
$
$
$
$
$
$
Total Governmental Net Assets
$
76,642
$
86,605
Business Type Activities
Invested in capital assets,
net of related debt
$
4
$
4
3
3
2
2
1
-
Restricted
Unrestricted
-
(3)
Total Business Type Activities
$
Total Primary Government
Invested in capital assets,
net of related debt
$ (15,437)
Restricted
Unrestricted
Total Primary Government
$
4
$
1
$ (24,241)
$
13
3
$ (29,824)
$
16
$ (14,494)
16
$
$
18
(6,935)
$
34
$
6,179
(31)
$
(30)
$ 10,869
33
$
33
$ 13,461
5,109
18,940
24,144
28,740
29,922
29,741
34,644
35,000
86,974
91,907
131,755
131,179
146,175
160,639
158,401
150,582
86,606
$ 126,075
$ 145,425
$ 169,162
$ 196,559
$ 203,914
$ 199,043
76,646
$
Note: The District began to report government-wide financial statements when it implemented GASB Statement 34
in 2002.
1
32
Fiscal year 2004 represents a 10-month transitional year for the period of September 1 through June 30.
Years preceding 2004 are September 1 through August 31 and years following 2004 are July 1
through June 30.
91
EXHIBIT S-2
PLANO INDEPENDENT SCHOOL DISTRICT
CHANGE IN NET ASSETS
LAST EIGHT FISCAL YEARS
(Unaudited)
(Accrual Basis of Accounting)
(Amounts Expressed in Thousands)
Fiscal Year
Expenses
Governmental activities:
Instruction
Instructional Resources & Media Services
Curriculum & Instructional Staff Development
Instructional Leadership
School Leadership
Guidance, Counseling & Evaluation Services
Social Work Services
Health Services
Student (Pupil) Transportation
Food Services
Cocurricular/Extracurricular Activities
General Administration
Plant Maintenance & Operations
Security & Monitoring Services
Data Processing Services
Community Services
Debt Service - Interest on Long Term Debt
Debt Service - Bond Issuance Cost and Fees
Facilities Acquisition & Construction
Contracted Instructional Services Between Schools
Incremental Costs Associated with Chapter 41
Payments to Fiscal Agent/Member Districts of SSA
Payments to Juvenile Justice Alternative Ed. Prg.
Payments to Tax Increment Fund
Other Intergovernmental Charges
2002
2003
2004
$ 214,707
9,706
6,236
3,070
17,565
11,517
1,305
3,113
6,801
13,512
5,426
9,641
32,764
2,407
5,985
1,847
36,023
270
20,494
96,443
460
112
2,317
$ 236,721
10,117
7,120
3,377
18,801
12,532
1,370
3,471
8,280
15,173
5,548
10,009
35,785
2,981
5,259
3,412
31,116
164
19,185
117,368
500
119
4,818
501,723
110
Total governmental activities expenses
Business-type activities:
Concessions
Employee Child Care
After School Care
Photography
Total business-type activities expenses
Total primary government expenses
Program Revenues
Governmental activities:
Charges for Services:
Instruction
Food Service
Cocurricular/Extracurricular Activities
Plant Maintenance & Operations
Community Services
Other
Operating Grants and Contributions
Capital Grants and Contributions
Total governmental activities program revenues
1
2005
2006
2007
2008
2009
$ 222,996
9,401
6,072
3,094
17,236
11,699
1,228
3,370
6,864
14,558
6,241
8,485
33,352
2,110
6,304
4,589
27,484
595
8,072
127,301
711
490
83
4,485
$ 247,607
10,843
6,040
3,318
19,443
13,637
1,054
3,614
7,790
16,304
7,297
9,239
38,091
2,349
7,896
5,612
30,354
814
10,853
127,293
676
466
127
4,828
$ 253,458
11,052
6,378
3,657
20,731
14,128
1,118
3,821
7,951
16,700
7,703
10,264
39,629
2,582
7,483
6,118
32,887
184
10,705
132,999
760
536
103
5,266
$ 273,019
11,527
7,432
3,783
20,703
15,170
1,246
4,163
8,918
18,056
8,196
10,715
42,957
2,651
8,161
6,193
35,720
150
13,232
125,383
838
509
137
5,312
$ 299,557
10,104
8,764
3,775
22,575
16,329
1,266
4,620
10,903
19,304
8,482
11,468
43,518
2,944
8,384
1,220
37,533
134
13,569
81,036
650
719
158
4,601
553,226
526,820
575,546
596,214
624,171
611,613
649,095
98
120
128
137
162
328
31
5,455
236
615
5,151
8
6,010
$
309,070
9,650
8,733
4,018
23,368
17,390
1,320
4,629
8,968
19,686
9,240
8,774
43,944
2,955
7,550
1,553
42,373
132
25,792
91,421
600
740
155
4,834
2,200
110
98
120
128
137
162
5,814
$ 501,833
$ 553,324
$ 526,940
$ 575,674
$ 596,351
$ 624,333
$ 617,427
$
655,105
$
5,317
9,791
796
1,384
49
30,026
336
$
4,272
10,342
766
947
3,864
578
42,046
2,701
$
4,657
9,848
915
1,032
4,800
248
33,649
252
$
5,350
11,312
1,006
1,052
6,546
197
37,570
2,312
$
4,330
11,014
1,732
1,207
6,584
644
46,477
1,932
$
5,048
11,247
1,516
1,152
7,052
315
48,736
293
$
5,272
11,680
1,482
1,539
145
612
53,350
-
$
4,381
12,341
1,401
1,122
76
269
56,502
-
$
47,699
$
65,516
$
55,401
$
65,345
$
73,920
$
75,359
$
74,080
$
76,092
Business-type activities:
Charges for services:
Concessions
Employee Child Care
After School Care
Photography
Total business-type activities program revenues
80
95
80
Total primary government program revenues
$
47,779
Net (Expense) Revenue
Governmental activities
Business-type activities
Total primary government net expense
$ (454,024)
(29)
$ (454,053)
123
95
$
65,611
$ (487,710)
(3)
$ (487,713)
92
141
123
$
55,524
$ (471,419)
3
$ (471,416)
139
141
$
65,486
$ (510,201)
13
$ (510,188)
176
139
$
74,059
$ (522,294)
2
$ (522,292)
262
11
7,462
176
$
75,535
$ (548,812)
14
$ (548,798)
239
531
7,144
7,914
7,735
$
81,815
$ (537,533)
1,921
$ (535,612)
$
84,006
$
(573,002)
1,904
(571,098)
$
EXHIBIT S-2
(Cont.)
PLANO INDEPENDENT SCHOOL DISTRICT
CHANGE IN NET ASSETS
LAST EIGHT FISCAL YEARS
(Unaudited)
(Accrual Basis of Accounting)
(Amounts Expressed in Thousands)
Fiscal Year
Net (Expense) Revenue
Governmental activities
Business-type activities
Total primary government net expense
General Revenues and Other Changes in Net Assets
Governmental Activities:
Taxes
Property taxes levied for general purposes
Property taxes levied for debt service
Unrestricted grants and contributions
Investment earnings
Miscellaneous
Insurance recovery
Gain (Loss) on disposition of capital assets
Transfers
Total governmental activities
Business-type activities:
Investment earnings
Transfers
Total business-type activities
Total primary government
Change in Net Assets
Governmental activities
Business-type activities
Total primary government
2004
2002
2003
$ (454,024)
(29)
(454,053)
$ (487,710)
(3)
(487,713)
372,575
46,024
13,313
16,041
3,001
(2,865)
(10)
$ 448,078
399,426
64,112
19,903
4,794
8,808
630
$ 497,673
(1)
10
9
1
2005
2006
2007
2008
2009
$ (471,419)
3
(471,416)
$ (510,201)
13
(510,188)
$ (522,294)
2
(522,292)
$ (548,812)
14
(548,798)
$ (537,533)
1,921
(535,612)
$ (573,002)
1,904
(571,098)
412,652
64,897
22,856
4,408
6,072
$ 510,886
420,601
66,189
27,500
8,154
5,317
1,778
$ 529,538
435,617
68,599
23,418
13,479
4,916
$ 546,029
409,133
77,383
64,836
17,681
7,901
$ 576,934
333,528
82,905
105,742
15,715
5,008
2,054
$ 544,952
352,709
91,245
106,017
9,415
6,815
1,867
$ 568,068
(1)
(1)
-
(1)
-
1
1
$ 529,538
$ 546,031
$ 576,935
$ 542,966
$ 566,227
$
$
$
$
$
$
$
$
$
$
$
$
19,337
13
19,350
$
Note: The District began to report government-wide financial statements when it implemented GASB Statement 34 in 2002.
1
26
(1,867)
(1,841)
$ 510,886
39,467
2
39,469
(1)
68
(2,054)
(1,986)
-
$ 497,673
9,963
(4)
9,960
(1)
1
-
$ 448,088
(5,945)
(20)
(5,965)
(1)
1
-
Fiscal year 2004 represents a 10-month transitional year for the period of September 1 through June 30.
Years preceding 2004 are September 1 through August 31 and years following 2004 are July 1
through June 30.
93
23,735
3
23,738
$
28,122
16
28,137
$
7,419
(65)
7,354
$
(4,934)
63
(4,871)
1
574
190
$ 326,378
1,438
240,038
7,707
$ 249,947
$
777
4,734
70,920
$ 76,431
$
2001
561
451
$ 311,062
1,863
214,977
12,685
$ 230,537
$
702
3,873
75,950
$ 80,525
$
2002
615
466
$ 202,622
1,792
100,128
18,896
$ 121,897
$
730
3,986
76,009
$ 80,725
$
2003
268
94
$ 226,402
4,141
81,164
34,066
$ 119,733
$
748
5,097
100,824
$ 106,669
$
2004 1
239
73
$ 257,679
5,647
99,977
37,544
$ 143,480
$
1,027
4,686
108,486
$ 114,199
$
2005
239
75
$ 281,260
6,867
113,855
36,920
$ 157,956
$
2,241
6,133
114,930
$ 123,304
$
2006
94
258
90
$ 281,836
8,397
98,234
39,184
$ 146,163
$
2,308
7,418
125,947
$ 135,673
$
2007
EXHIBIT S-3
Fiscal year 2004 represents a 10-month transitional year for the period of September 1 through June 30. Years preceding 2004 are
September 1 through August 31 and years following 2004 are July 1 through June 30.
$ 115,337
Total governmental funds
881
447
783
26,121
5,257
$ 33,489
$
801
9,288
71,759
$ 81,848
$
All Other Governmental Funds
Reserved
Unreserved designated
Unreserved, reported in
Special revenue funds
Capital projects funds
Debt service fund
Total all other governmental funds
General Fund
Reserved
Unreserved designated
Unreserved
Total general fund
2000
Fiscal Year
PLANO INDEPENDENT SCHOOL DISTRICT
FUND BALANCES, GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(Unaudited)
(Modified Accrual Basis of Accounting)
(Amounts Expressed in Thousands)
204
567
$ 271,760
9,382
89,666
40,718
$ 140,538
$
2,127
6,843
122,252
$ 131,222
$
2008
193
71,676
$ 357,117
9,610
102,660
45,614
$ 229,753
$
2,506
8,250
116,608
$ 127,364
$
2009
1
327,542
8,798
12,360
9,510
358,210
24,435
2,778
27,213
6,184
2,213
8,397
$ 393,820
$
357,093
9,667
20,172
15,264
402,196
25,788
3,187
28,975
8,325
2,553
10,878
$ 442,049
$
2001
418,599
9,849
16,041
10,137
454,626
23,776
4,050
27,826
8,848
2,666
11,514
$ 493,966
$
2002
$ 561,675
463,538
10,365
4,794
25,264
503,961
30,696
12,066
42,762
$ 11,589
3,363
14,952
2003
$ 565,316
477,549
9,882
4,408
19,906
511,745
32,271
6,057
38,328
$ 11,674
3,569
15,243
2004 1
$ 592,476
486,790
11,390
8,154
24,090
530,424
38,341
6,175
44,516
$ 13,077
4,459
17,536
2005
$ 617,414
504,216
11,025
13,479
22,921
551,641
36,256
6,641
42,897
$ 17,936
4,940
22,876
2006
$ 653,208
95
487,970
11,246
18,750
25,631
543,597
79,568
8,419
87,987
$ 16,275
5,349
21,624
2007
EXHIBIT S-4
Fiscal year 2004 represents a 10-month transitional year for the period of September 1 through June 30. Years preceding 2004 are
September 1 through August 31 and years following 2004 are July 1 through June 30.
Total revenues
Local sources:
Ad valorem taxes
Food service sales
Interest and other income
Other revenue
Total local sources
State sources:
State education finance program
State grants and other
Total state sources
Federal sources:
Federal grants
Food services
Total federal sources
2000
Fiscal Year
PLANO INDEPENDENT SCHOOL DISTRICT
GOVERNMENTAL FUNDS, REVENUES
LAST TEN FISCAL YEARS
(Unaudited)
(Modified Accrual Basis of Accounting)
(Amounts Expressed in Thousands)
$ 616,079
416,042
11,909
16,255
16,832
461,038
123,519
8,697
132,216
$ 16,810
6,015
22,825
2008
$
$
641,680
445,420
12,340
9,028
15,747
482,535
124,349
10,234
134,583
18,199
6,363
24,562
2009
$ 37,901
Capital Expenditures
2
1
10.1%
$ 60,645
$ 502,917
$ 210,823
18,975
40,554
9,590
39,353
773
17,270
26,665
851
61,280
76,783
2001
10.8%
$ 134,064
$ 634,141
$ 218,383
19,941
39,299
9,062
41,195
1,799
23,072
30,900
270
150,888
99,332
2002
11.7%
$ 98,456
$ 670,262
$ 244,733
21,768
44,598
9,949
43,480
3,400
28,300
38,156
164
112,909
122,805
2003
9.6%
$ 45,009
$ 575,220
$ 226,405
19,799
41,358
8,250
38,163
4,590
33,870
16,445
595
52,675
133,070
2004 1
11.2%
$ 47,911
$ 637,521
$ 252,250
22,377
46,699
9,002
43,379
5,641
32,600
32,904
814
58,465
133,390
2005
12.2%
$ 52,526
$ 667,218
$ 257,275
23,893
48,392
9,832
45,330
6,138
39,485
35,172
320
61,717
139,664
2006
96
Fiscal year 2004 represents a 10-month transitional year for the period of September 1 through June 30. Years preceding 2004 are
September 1 through August 31 and years following 2004 are July 1 through June 30.
Intergovernmental charges include: Contracted Instructional Services Between Schools, Incremental Costs Associated with Chapter 41 (2004 first year)
Payments to Fiscal Agent/Member Districts of SSA, Payments to Juvenile Justice Alternative Ed. Prg., Payment to Tax Increment Fund (2001 first year),
and Appraisal District Costs (2009 first year). The Contracted Instructional Services Between Schools increased due to increases in tax revenue as a
result of increases in appraised property values.
9.9%
$ 422,230
Total Expenditures
Debt service as a percentage of noncapital expenditures
$ 194,066
17,240
35,267
9,294
38,383
535
16,645
21,199
261
35,871
53,469
2000
Expenditures:
Instruction & Instructional-Related Services
Instructional & School Leadership
Support Services - Student
Administrative Support Services
Support Services - Nonstudent
Ancillary Services
Debt Service - Principal on long-term debt
Debt Service - Interest on long-term debt
Debt Service - Bond Issuance Costs and Fees
Facilities Acquisition & Construction
Intergovernmental Charges 2
Fiscal Year
12.8%
$ 85,689
$ 730,533
$ 277,297
23,937
52,174
10,438
50,027
6,187
45,880
36,000
569
95,844
132,180
2007
EXHIBIT S-5
PLANO INDEPENDENT SCHOOL DISTRICT
GOVERNMENTAL FUNDS, EXPENDITURES AND DEBT SERVICE RATIO
LAST TEN FISCAL YEARS
(Unaudited)
(Modified Accrual Basis of Accounting)
(Amounts Expressed in Thousands)
13.9%
$ 53,887
$ 685,984
$ 300,195
25,679
57,044
11,283
49,445
1,204
48,480
38,747
397
66,346
87,164
2008
13.9%
$ 77,375
$ 740,163
$ 306,772
26,329
58,956
8,786
49,366
1,424
50,860
39,361
1,861
96,498
99,950
2009
1
$ (27,751)
659
(1,114)
-
5,522
(3,749)
-
$ (28,410)
$ 211,039
271,907
8,159
(8,119)
270,000
95,964
(96,135)
2,038
-
$ (60,868)
2001
$ (15,315)
124,860
11,055
(16,059)
128,900
615
349
-
$ (140,175)
2002
$ (108,440)
147
8,925
(8,778)
-
$ (108,587)
2003
$
$
23,780
33,684
3,597
(3,298)
231,390
19,864
(217,869)
-
(9,904)
2004 1
$
31,277
76,322
4,494
(4,494)
71,420
56,805
9,000
(62,938)
2,035
-
$ (45,045)
2005
97
Fiscal year 2004 represents a 10-month transitional year for the period of September 1 through June 30. Years preceding 2004 are
September 1 through August 31 and years following 2004 are July 1 through June 30.
Net change in fund balances
Total other financing sources (uses)
Other financing sources (uses)
Transfers In
Transfers Out
Bonds issued
Refunding bonds issued
Premiums on bonds issued
Payment to bond refunding agent
Special Early Retirement Benefits
Sale of capital assets
Capital leases
Excess of revenues over (under) expenditures
2000
Fiscal Year
$
23,581
73,385
4,955
(4,955)
70,535
2,821
29
-
$ (49,804)
2006
$
1,315
78,640
6,731
(7,331)
76,670
129,180
4,496
(131,106)
-
$ (77,325)
2007
EXHIBIT S-6
PLANO INDEPENDENT SCHOOL DISTRICT
GOVERNMENTAL FUNDS, OTHER FINANCING SOURCES AND USES
AND NET CHANGE IN FUND BALANCE
LAST TEN FISCAL YEARS
(Unaudited)
(Modified Accrual Basis of Accounting)
(Amounts Expressed in Thousands)
$ (10,076)
59,829
9,247
(7,192)
58,280
33,305
2,488
(36,299)
-
$ (69,905)
2008
$
$
85,357
183,840
7,446
(5,580)
179,999
1,747
228
(98,483)
2009
EXHIBIT S-7
PLANO INDEPENDENT SCHOOL DISTRICT
ASSESSED VALUE AND ACTUAL VALUE OF TAXABLE PROPERTY
LAST TEN FISCAL YEARS
(Unaudited)
(Modified Accrual Basis of Accounting)
(Amounts Expressed in Thousands)
Fiscal
Year
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
Residential
Property
$
14,825,781
16,493,192
17,935,003
19,255,237
19,912,909
20,442,670
21,192,806
22,197,270
23,322,123
24,083,793
Actual Value
Industrial
Rural
Property
Acreage
$ 4,355,776
5,225,239
6,068,529
6,654,460
6,508,264
6,674,985
7,119,236
7,693,125
8,527,170
9,137,863
$ 814,896
721,515
740,731
665,504
614,019
597,633
563,882
523,206
517,748
541,191
Personal
Property
$ 2,111,673
2,224,833
3,078,659
2,811,574
2,409,418
2,356,902
2,234,944
2,389,513
2,583,357
2,981,489
Less:
Exemptions
$
Source: Comptroller of Public Accounts - School District Summary Worksheet
1
Per $100 of assessed value.
98
1,536,080
1,677,758
2,197,741
2,216,130
1,850,291
2,170,478
2,189,452
2,137,133
2,805,271
2,933,939
Total
Assesed
Value
$ 20,572,046
22,987,021
25,625,181
27,170,645
27,594,319
27,901,712
28,921,416
30,665,981
32,145,127
33,810,397
Total
District
Rate 1
1.5792
1.5531
1.6285
1.7034
1.7334
1.7334
1.7334
1.5784
1.2684
1.3034
1
1.3858
1.4400
1.4700
1.5000
1.5000
1.5000
1.3300
1.0200
1.0400
2001
2002
2003
2004
2005
2006
2007
2008
2009
0.2634
0.2484
0.2484
0.2334
0.2334
0.2334
0.2334
0.1885
0.1673
$0.1630
1.3034
1.2684
1.5784
1.7334
1.7334
1.7334
1.7034
1.6285
1.5531
$1.5792
$
Includes levies for operating and debt service
1.4162
District Direct Rates
Maintenance
Debt
& Operations Service
Total
2000 $
Fiscal
Year
0.4735
0.4735
0.4535
0.4535
0.4535
0.4535
0.4535
0.4535
0.4585
0.4685
City of
Plano
0.2425
0.2450
0.2500
0.2500
0.2500
0.2500
0.2500
0.2500
0.2500
$ 0.2500
Collin
County
$
99
0.086493
0.086984
0.087683
0.089422
0.090646
0.091932
0.091946
0.092843
0.094049
0.0967
0.5183
0.4683
0.4683
0.4683
0.4683
0.4300
0.4200
0.3764
0.4140
$ 0.5444
Collin Co.
Community
City of
College (CCCC) Murphy
$
0.57516
0.57516
0.57516
0.52516
0.52516
0.47785
0.47785
0.44385
0.44385
0.4439
City of
Richardson
City of
Dallas
0.7479
0.7479
0.7292
0.7417
0.7197
0.6998
0.6998
0.6675
0.6675
0.5560
0.5570
0.5580
0.5600
0.5600
0.5610
0.5620
0.5630
0.5640
$ 0.5740
City of
Allen
EXHIBIT S-8
$ 0.6675
Overlapping Rates 1
PLANO INDEPENDENT SCHOOL DISTRICT
DIRECT AND OVERLAPPING PROPERTY TAX RATES
LAST TEN FISCAL YEARS
(Unaudited)
(Modified Accrual Basis of Accounting)
(Amounts Expressed in Thousands)
$
0.6179
0.6179
0.6329
0.5993
0.5993
0.5993
0.5993
0.5993
0.5993
0.6043
City of
Carrollton
$
0.3771
0.3771
0.3771
0.2820
0.2820
0.2700
0.2808
0.2942
0.3169
0.3500
City of
Parker
EXHIBIT S-9
PLANO INDEPENDENT SCHOOL DISTRICT
PRINCIPAL PROPERTY TAXPAYERS
CURRENT YEAR AND NINE YEARS AGO
(Unaudited)
2009
Taxable
Value
Taxpayer
TXU Electric Delivery Company
Countrywide Home Loans Inc.
J C Penney Co. Inc
Electronic Data Systems Corp.
Willow Bend Shopping Center LP
United Dominion Realty LP
Legacy Campus LP
Alcatel USA Sourcing LP
Ericsson
IBM Credit LLC
Alcatel/Digital Switch Corp.
Fujitsu America
Texas Instruments Inc.
Collin Creek Mall
Dallas Morning News
Summit SW
ARCO
Total
$
230,050,668
200,102,718
163,972,572
140,996,529
127,374,433
113,285,714
110,257,786
102,402,233
101,752,008
100,143,015
Total Taxable Value
$34,846,156,234
2000
Rank
1
2
3
4
5
6
7
8
9
10
$ 1,390,337,676
Percentage
of Total
Taxable
Value
0.66 %
0.57
0.47
0.40
0.37
0.33
0.32
0.29
0.29
0.29
3.99 %
Taxable
Value
$
222,209,906
244,098,496
4
3
1.07 %
1.18
392,549,463
1
1.90
332,814,581
207,033,349
101,840,936
88,234,231
88,172,283
67,641,745
65,178,116
$ 1,809,773,106
2
5
6
7
8
9
10
$20,684,278,043
Source: Collin County Tax Assessor Collector
100
Rank
Percentage
of Total
Taxable
Value
1.61
1.00
0.49
0.43
0.43
0.33
0.32
8.75 %
1
490,130,102
418,512,937
448,010,956
2007
2008
2009
4
3
2
3
$
441,638,332
412,176,374
482,508,116
498,938,497
482,923,224
473,510,730
462,272,452
413,385,800
354,578,692
324,245,417
98.58
98.49
98.44
98.18
98.86
98.80
98.80
99.18
99.36
99.61
Collected Within the
Fiscal Year of the Levy
Percentage
Amount
of Levy
$
-
5,193,648
6,835,534
8,381,881
4,880,541
5,272,343
5,220,769
3,231,993
2,163,366
1,154,605
Collections
in Subsequent
Years 2
$
441,638,332
417,370,022
489,343,650
507,320,378
487,803,765
478,783,073
467,493,221
416,617,793
356,742,058
325,400,022
98.58
99.73
99.84
99.83
99.86
99.90
99.91
99.95
99.96
99.96
Total Collections to Date
Percentage
Amount
of Levy
$
101
5,387,694
7,235,470
5,844,794
5,862,154
3,762,274
2,966,173
4,822,667
2,513,959
3,296,999
1,527,280
$
447,026,026
424,605,492
495,188,444
513,182,532
491,566,039
481,749,246
472,315,888
419,131,752
360,039,057
326,927,302
Total Cash
Collections 4
EXHIBIT S-10
Prior Year
Delinquent
Tax Collections
Fiscal year 2004 represents a 10-month transitional year for the period of September 1 through June 30. Years preceding 2004 are
September 1 through August 31 and years following 2004 are July 1 through June 30.
Collections in subsequent years are net of supplements and corrections.
Current year original tax levy of $454,874,791 was decreased by $6,863,835 in supplements and corrections
Total cash collections is total cash net of interest and penalty collections and other judgments.
508,183,783
2006
1
488,501,853
2005
479,281,136
467,903,563
2003
2004
416,808,597
2002
325,529,465
356,871,232
$
2001
2000
Fiscal
Year
Taxes Levied
For the
Fiscal Year
PLANO INDEPENDENT SCHOOL DISTRICT
PROPERTY TAX LEVIES AND COLLECTIONS
LAST TEN FISCAL YEARS
(Unaudited)
99.8
101.5
101.0
101.0
100.6
100.5
100.9
100.6
100.9
100.4 %
Percentage
of Total
Collections
to Tax Levy
EXHIBIT S-11
PLANO INDEPENDENT SCHOOL DISTRICT
OUTSTANDING DEBT BY TYPE
LAST TEN FISCAL YEARS
(Unaudited)
(Dollars in thousands, except per capita)
Fiscal
Year
Governmental Activities
Unlimited
Loans
Capital
Tax Bonds
Payable
Leases
Total
Primary
Government
Percentage
of Personal
Income
Total
Outstanding
Debt
Per Capita
2000
402,711
-
52
402,763
0.05
1,316
2001
653,029
-
27
653,056
0.07
2,086
2002
759,828
-
-
759,828
0.07
2,364
2003
732,198
-
-
732,198
0.06
2,239
2004
724,063
-
-
724,063
0.06
2,171
2005
762,510
-
-
762,510
0.07
2,238
2006
794,108
-
-
794,108
0.06
2,267
2007
830,581
-
-
830,581
0.06
2,332
2008
838,043
-
-
838,043
0.06
2,310
2009
968,694
-
108
968,802
0.09
2,639
Note: Refer to Exhibit S-14 for per capita personal income information.
102
EXHIBIT S-12
PLANO INDEPENDENT SCHOOL DISTRICT
DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT
AS OF JUNE 30, 2009
(Unaudited)
(Dollars in thousands, except per capita)
Net Bonded
Debt
Governmental Unit
City of Plano 1
Collin County Community College
Collin County 1
City of Parker 1
City of Murphy 1
City of Richardson 2
City of Dallas 1
City of Allen 1
City of Carrollton 1
$
2
331,493
46,675
384,264
9,404
26,285
189,734
1,898,278
94,030
149,162
Estimated
Percentage
Applicable
91.63 %
98.80
98.80
97.18
89.21
24.32
6.10
6.06
0.09
Estimated
Share of
Direct and
Overlapping
Debt
$
303,747
46,115
379,653
9,139
23,449
46,143
115,795
5,698
134
Subtotal, overlapping debt
929,873
District net bonded debt
921,867
Total direct and overlapping debt
$ 1,851,740
Sources: Debt outstanding data provided by each governmental unit. Data for calculation of
overlapping percentages was provided by Collin County Appraisal District and Dallas County
Appraisal District.
Notes: Overlapping governments are those that coincide, at least in part, with the geographic
boundaries of the district. This schedule estimates the portion of the outstanding debt of
those overlapping governments that is borne by the residents and businesses of the district.
1
2
Reported as of entity's fiscal year end 2008.
Reported as of entity's fiscal year end 2009.
103
EXHIBIT S-13
PLANO INDEPENDENT SCHOOL DISTRICT
LEGAL DEBT MARGIN INFORMATION
LAST TEN FISCAL YEARS
(Unaudited)
(Dollars in thousands)
Fiscal
Year
Debt
Limit
Total Net
Debt
Applicable
To Limit
Legal
Debt
Margin
Total Net Debt
Applicable to the Limit
as a Percentage of
Debt Limit
2000
2,068,428
397,454
1,670,974
19.22 %
2001
2,298,702
645,322
1,653,380
28.07
2002
2,562,518
747,143
1,815,375
29.16
2003
2,717,065
713,302
2,003,763
26.25
2004
2,759,432
689,997
2,069,435
25.01
2005
2,790,171
724,765
2,065,406
25.98
2006
2,892,142
757,188
2,134,954
26.18
2007
3,066,598
791,397
2,275,201
25.81
2008
3,225,475
797,795
2,427,680
24.73
2009
3,381,040
921,867
2,459,173
27.27
Legal Debt Margin Calculation for Fiscal Year 2009
Assessed Value
Debt limit (10% of assessed value)
Total bonded debt
Less reserve for retirement of debt
Debt applicable to limit
Legal debt margin
$
$
967,481
45,614
$
104
33,810,397
3,381,040
921,867
2,459,173
EXHIBIT S-14
PLANO INDEPENDENT SCHOOL DISTRICT
DEMOGRAPHIC AND ECONOMIC STATISTICS
LAST TEN FISCAL YEARS
(Unaudited)
Fiscal
Year
Population
Personal
Income
(in thousands)
Per Capita
Personal
Income
Unemployment
Rate
2000
306,006
8,818,787
28,819
2.20 %
2001
313,028
9,338,564
29,833
4.30
2002
321,381
11,387,814
35,434
5.60
2003
327,050
11,779,033
36,016
5.90
2004
333,468
11,297,896
33,880
3.80
2005
340,699
11,683,250
34,292
4.40
2006
350,225
12,490,424
35,664
4.60
2007
356,206
13,726,042
38,534
3.90
2008
362,711
15,064,839
41,534
4.30
2009
367,060
10,299,677
40,297
7.40
Sources:
Population was provided by North Central Texas Council of Governments.
Personal income figures were obtained from the U.S Census Bureau.
Unemployment rates were provided by the Texas Workforce Commission.
105
37,972
9,410
6,839
5,000
5,100
2,697
2,023
2,000
2,000
1,488
1,415
Employees
1
2
3
4
5
6
7
8
9
10
Rank
28.61 %
6.43 %
4.67
3.42
3.48
1.84
1.38
1.37
1.37
1.02
1.02
Percentage
Of Total District
Employment
106
Sources:
TWC website provided total labor force numbers - 2009 (148,064); 2000 (115,058)
North Central Texas Council of Governments statistical and census data
City of Plano research
Total
Countrywide Home Loans
Plano ISD
Electronic Data Systems
J. C. Penney, Inc.
Perot Systems
Alcatel USA
Frito - Lay Inc.
CHC Acquisition Corp
Presbyterian Hospital of Plano
Capital One Auto Finance
DSC Communications Corporation
Texas Instruments Inc.
J. C. Penney Life Insurance
HCA Medical Center
Dallas Morning News
Employer
2009
5
3
10
7
8
9
2,400
3,800
800
1,350
1,200
900
31,429
6
2
1
4
Rank
2000
27.33 %
3.30
0.70
1.17
1.04
0.78
2.09
1.30 %
4.56
9.15
3.22
Percentage
Of Total District
Employment
EXHIBIT S-15
1,500
5,249
10,530
3,700
Employees
PLANO INDEPENDENT SCHOOL DISTRICT
PRINCIPAL EMPLOYERS
CURRENT YEAR AND NINE YEARS AGO
(Unaudited)
EXHIBIT S-16
PLANO INDEPENDENT SCHOOL DISTRICT
FULL-TIME EQUIVALENT DISTRICT EMPLOYEES BY TYPE
LAST SEVEN FISCAL YEARS
(Unaudited)
Fiscal Year
2003
Instruction
Teachers
Librarians
Educational Aides
Interpreters
Other Professionals (instructional)
Campus Administration
Principal
Assistant Principal
Instructional Officer
Student Services
Counselor
Educational Diagnostician
School Nurse
LSSP/Psychologist
Social Worker
Support and Administration
Superintendent, Deputy, Assoc. & Assist.
Non-Campus Professionals
Auxiliary Staff
Total
2004
2005
2006
2007
2008
2009
Percent
Change
2003 - 2009
3,624
65
650
16
186
4,541
3,826
67
704
15
120
4,732
3,761
67
674
15
119
4,636
3,801
69
668
12
128
4,678
3,855
66
750
15
132
4,818
4,003
70
648
17
138
4,875
4,067
71
661
12
156
4,967
59
83
2
144
60
85
3
148
63
82
6
151
67
83
6
156
67
85
8
160
68
87
8
163
68
90
8
166
15
8
300
15
130
24
65
11
17
247
134
25
69
11
17
256
138
27
68
13
8
254
142
27
70
13
8
260
145
28
70
13
9
265
143
29
72
13
9
266
147
29
72
14
10
272
13
21
11
27
(41)
10
8
214
1,002
1,224
8
204
1,472
1,684
8
198
1,435
1,641
8
204
1,450
1,662
8
213
1,146
1,366
7
208
1,375
1,590
7
211
1,216
1,434
(13)
(1)
21
17
6,156
6,820
6,682
6,756
6,608
6,894
6,839
Source: Fall Public Education Information Management System (PEIMS) Submissions with full-time equivalent employees
as of the last Friday in October. PEIMS staffing reports with detail level information were not available prior to FY 2003.
Notes: Full-time instructional employees of the district are employed for 189 contract days. Campus Administrators and Student Services
employees are primarily employed for 220 days. Central administrative and non-campus professional staff are employed for 246 days.
Auxiliary staff are employed on an hourly basis with daily hours worked ranging from 8 hours to 4 hours.
107
12 %
9
2
(25)
(16)
9
11 %
49,050
50,731
2002
2003
52,997
53,683
54,203
2007
2008
2009
3
2
551,978,466
532,066,841
552,265,959
531,075,643
512,742,554
471,638,955
490,743,793
429,047,700
396,889,606
348,686,642
Operating
Expenditures 3
10,184
9,911
10,421
9,975
9,793
9,168
9,673
8,747
8,402
7,641
Cost
Per
Pupil
2.75
(4.89)
4.46
1.86
6.83
(5.23)
10.59
4.11
9.96
9.34
Percentage
Change
460,557,493
451,030,359
426,882,506
398,076,567
385,449,406
344,337,834
373,375,642
332,604,397
321,761,546
295,562,125
Expenditures
Excluding
Recapture
8,497
8,402
8,055
7,477
7,362
6,693
7,360
6,781
6,812
6,477
Cost
Per
Pupil
1.13
4.31
7.72
1.56
9.99
(9.06)
8.54
(0.45)
5.17
6.21
Percentage
Change
108
4,067
4,003
3,855
3,801
3,760
3,825
3,624
3,528
3,375
3,143
Teaching
Staff
EXHIBIT S-17
Enrollment is as of the October reporting date to TEA through the Public Education Information System (PEIMS).
Fiscal year 2004 represents a 10-month transitional year for the period of September 1 through June 30. Years preceding 2004 are
September 1 through August 31 and years following 2004 are July 1 through June 30.
Operating expenditures are total governmental fund expenditures less debt service and capital projects.
53,238
2006
1
52,356
2005
51,446
47,237
2001
2
45,634
2000
2004
Enrollment 1
Fiscal
Year
PLANO INDEPENDENT SCHOOL DISTRICT
OPERATING STATISTICS
LAST TEN FISCAL YEARS
(Unaudited)
13.3
13.4
13.7
14.0
13.9
13.4
14.0
13.9
14.0
14.5
Pupil
Teacher
Ratio
22
21
19
21
19
17
15
12
11
11 %
of Students
Receiving
Free or
Reduced-Price
Meals
EXHIBIT S-18
PLANO INDEPENDENT SCHOOL DISTRICT
TEACHER BASE SALARIES
LAST TEN FISCAL YEARS
(Unaudited)
District
Average
Salary
Statewide
Average
Salary
Fiscal
Year
Minimum
Salary
Maximum
Salary
2000
$ 32,000
$
2001
33,000
44,267
43,767
38,361
2002
34,000
47,195
41,155
39,232
2003
35,500
48,259
41,980
39,974
2004
36,250
48,778
42,533
40,478
2005
37,150
49,902
43,006
41,011
2006
38,000
50,752
43,952
41,744
43,578
$
39,927
$
37,567
2007
41,250
54,106
46,945
44,897
2008
43,149
55,964
48,712
46,178
2009
44,251
57,327
49,669
47,158
Sources:
Plano ISD Compensation Plan Book
Academic Excellence Indicator System Annual Report for State of Texas (AEIS)
109
5
1,126,915
6,827
3
1,252,658
5,687
High School
Buildings
Square Feet
Enrollment
Senior High School
Buildings
Square Feet
Enrollment
Total Schools
Buildings
Square Feet
Enrollment
58
6,670,538
45,637
1
24,000
246
11
1,652,060
10,662
Middle School
Buildings
Square Feet
Enrollment
Early Childhood Schools
Buildings
Square Feet
Enrollment 1
38
2,614,905
22,215
2000
Schools:
Elementary
Buildings
Square Feet
Enrollment
58
6,670,538
47,238
1
24,000
311
3
1,252,658
5,847
5
1,126,915
7,144
11
1,652,060
10,923
38
2,614,905
23,013
2001
61
6,894,038
49,050
1
24,000
331
3
1,252,658
6,373
5
1,126,915
7,241
11
1,652,060
11,443
41
2,838,405
23,662
2002
110
63
7,108,223
50,964
3
147,683
1,476
3
1,252,658
6,794
5
1,126,915
7,514
12
1,805,997
11,658
40
2,774,970
23,522
2003
63
7,108,223
51,850
3
147,683
1,604
3
1,252,658
6,645
5
1,126,915
7,769
12
1,805,997
11,839
40
2,774,970
23,993
2004
65
7,259,921
52,356
3
147,683
1,385
3
1,252,658
6,869
5
1,126,915
7,833
12
1,805,997
12,055
42
2,926,668
24,214
2005
Fiscal Year
PLANO INDEPENDENT SCHOOL DISTRICT
SCHOOL BUILDING INFORMATION
LAST TEN FISCAL YEARS
(Unaudited)
65
7,259,921
53,181
3
147,683
1,267
3
1,252,658
7,071
5
1,126,915
7,984
12
1,805,997
12,048
42
2,926,668
24,811
2006
66
7,485,790
52,935
3
147,683
1,261
3
1,252,658
7,132
5
1,233,936
7,889
12
1,805,997
12,103
43
3,045,516
24,550
2007
EXHIBIT S-19
66
7,553,162
53,583
3
147,683
1,435
3
1,272,129
7,290
5
1,233,939
7,977
12
1,814,967
12,151
43
3,084,444
24,730
2008
67
7,674,653
54,203
3
156,458
1,704
3
1,272,150
7,429
5
1,233,939
7,936
12
1,817,526
8,296
44
3,194,580
28,838
2009
2
2
1
Notes:
Early Childhood School Enrollment - students are 1/2 day students
Source: District Records
2
8
19
5
7
3
102,389
3
179,520
3
97,775
2001
2
8
19
5
7
3
102,389
Facility Services
Buildings
Square Feet
Athletics
Stadiums
Running Tracks
Tennis Courts
Softball Fields
Baseball Fields
Indoor Athletic Fields
Swimming Pools
3
179,520
2
57,775
2000
Administrative
Buildings
Square Feet
Other Educational Facilities Buildings
Square Feet
Other PISD Facilities:
2
2
8
19
5
7
3
102,389
4
207,520
3
97,775
2002
111
2
8
20
5
7
3
2
3
102,389
5
211,866
3
97,775
2003
6
9
20
5
7
3
2
4
142,389
5
211,866
3
97,775
2004
6
9
20
5
7
3
2
4
142,389
5
211,866
3
97,775
2005
PLANO INDEPENDENT SCHOOL DISTRICT
SCHOOL BUILDING INFORMATION
LAST TEN FISCAL YEARS
(Unaudited)
6
9
20
5
7
3
2
4
142,389
5
211,866
3
97,775
2006
6
9
20
5
7
3
2
4
142,389
6
223,271
3
97,775
2007
EXHIBIT S-19
(Cont.)
6
9
20
3
7
3
2
4
142,389
6
223,271
3
97,775
2008
6
9
20
3
7
3
2
4
142,389
6
223,271
4
126,961
2009
112
REPORTS ON INTERNAL CONTROL, COMPLIANCE,
AND FEDERAL AWARDS
113
114
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
AND ON COMPLIANCE AND OTHER MATTERS BASED ON
AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
IN ACCORDANCE WITH GOVERNMENTAL AUDITING STANDARDS
WEAVER
TIDWELL
AND
INDEPENDENT AUDITOR’S REPORT
L.L.P.
Certified Public
Accountants
and Consultants
Board of Trustees
PLANO ISD
Plano, TX
We have audited the financial statements of the governmental activities,
business type activities, each major fund and the aggregate remaining fund
information of Plano Independent School District (the District) as of and for the
year ended June 30, 2009, and have issued our report thereon dated
October 23, 2009. 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.
Internal Control Over Financial Reporting
In planning and performing our audit, we considered the District’s internal control
over financial reporting in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial statements and not to provide
assurance on the internal control over financial reporting.
A control deficiency exists when the design or operation of a control does not
allow management or employees, in the normal course of performing their
assigned functions, to prevent or detect misstatements on a timely basis. A
significant deficiency is a control deficiency, or a combination of control
deficiencies, that adversely affect the District’s ability to initiate, authorize, record,
process, or report financial data reliably in accordance with generally accepted
accounting principles such that there is more than a remote likelihood that a
misstatement of the District’s financial statements that is more than
inconsequential will not be detected by the District’s internal control. No
significant deficiencies in internal control over financial reporting were noted in
our testing.
Three Forest Plaza
12221 Merit Drive
Suite 1400
Dallas, Texas 75251-2280
972.490.1970
F 972.702.8321
A material weakness is a significant deficiency, or combination of significant
deficiencies, that results in more than a remote likelihood that a material
misstatement of the financial statements will not be prevented or detected by the
District’s internal control.
WWW.WEAVERANDTIDWELL.COM
AN INDEPENDENT MEMBER OF
BAKER TILLY
INTERNATIONAL
OFFICES IN
DALLAS
FORT WORTH
HOUSTON
115
SAN ANTONIO
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
AND ON COMPLIANCE AND OTHER MATTERS BASED ON
AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
IN ACCORDANCE WITH GOVERNMENTAL AUDITING STANDARDS
Our consideration of internal control over financial reporting was for the limited
purpose described in the first paragraph of this section, and would not
necessarily identify all deficiencies in internal control that might be significant
deficiencies and, accordingly, would not necessarily disclose all significant
deficiencies or material weaknesses. We did not identify any deficiencies in
internal control over financial reporting that we consider to be material
weaknesses, as defined above
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the District’s financial
statements are free of material misstatement, we performed tests of its
compliance with certain provisions of laws, regulations, contracts and grants,
noncompliance with which could have a direct and material effect on the
determination of financial statement amounts. However, providing an opinion on
compliance with those provisions was not an objective of our audit and,
accordingly, we do not express such an opinion. The results of our tests did not
disclose any instances of noncompliance that are required to be reported under
Government Auditing Standards.
This report is intended for the information of the District's Trustees, the audit
committee, the administration, federal awarding agencies and pass-through
entities, and is not intended to be used and should not be used by anyone other
than these specified parties.
WEAVER AND TIDWELL, L.L.P.
Dallas, Texas
October 23, 2009
116
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH
MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN
ACCORDANCE WITH OMB CIRCULAR A-133
WEAVER
TIDWELL
AND
Board of Trustees
PLANO ISD
Plano, TX
L.L.P.
Certified Public
Accountants
and Consultants
Compliance
We have audited the compliance of PLANO INDEPENDENT SCHOOL
DISTRICT with the types of compliance requirements described in the U.S.
Office of Management and Budget (OMB) Circular A-133 Compliance
Supplement that are applicable to each of its major federal programs for the year
ended June 30, 2009. The District's major federal programs are identified in the
summary of auditor's results section of the accompanying schedule of findings
and questioned costs. Compliance with the requirements of laws, regulations,
contracts and grants applicable to each of its major federal programs is the
responsibility of the District’s management. Our responsibility is to express an
opinion on the District's compliance based on our audit.
We conducted our audit of compliance in accordance with auditing standards
generally accepted in the United States of America; the standards applicable to
financial audits contained in Government Auditing Standards issued by the
Comptroller General of the United States; and OMB Circular A-133, Audits of
States, Local Governments, and Non-Profit Organizations. Those standards and
OMB Circular A-133 require that we plan and perform the audit to obtain
reasonable assurance about whether noncompliance with the types of
compliance requirements referred to above that could have a direct and material
effect on a major federal program occurred. An audit includes examining, on a
test basis, evidence about the District’s compliance with those requirements and
performing such other procedures as we considered necessary in the
circumstances. We believe that our audit provides a reasonable basis for our
opinion. Our audit does not provide a legal determination on the District’s
compliance with those requirements.
In our opinion, Plano Independent School District complied, in all material
respects, with the requirements referred to above that are applicable to each of
its major federal programs for the year ended June 30, 2009.
Internal Control Over Compliance
Three Forest Plaza
12221 Merit Drive
Suite 1400
Dallas, Texas 75251-2280
972.490.1970
F 972.702.8321
WWW.WEAVERANDTIDWELL.COM
The management of the District is responsible for establishing and maintaining
effective internal control over compliance with requirements of laws, regulations,
contracts and grants applicable to federal programs. In planning and performing
our audit, we considered the District's internal control over compliance with
requirements that could have a direct and material effect on a major federal
program in order to determine our auditing procedures for the purpose of
expressing our opinion on compliance and to test and report on internal control
over compliance in accordance with OMB Circular A-133.
AN INDEPENDENT MEMBER OF
BAKER TILLY
INTERNATIONAL
OFFICES IN
DALLAS
FORT WORTH
HOUSTON
117
SAN ANTONIO
REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO EACH
MAJOR PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN
ACCORDANCE WITH OMB CIRCULAR A-133
Our consideration of the internal control over compliance would not necessarily
disclose all matters in the internal control that might be material weaknesses. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that noncompliance with applicable requirements of laws, regulations,
contracts and grants caused by error or fraud that would be material in relation to
a major federal program being audited may occur and not be detected within a
timely period by employees in the normal course of performing their assigned
functions. We noted no matters involving the internal control over compliance
and its operation that we consider to be material weaknesses.
This report is intended for the information of the District's Trustees, the audit
committee, the administration, federal awarding agencies and pass-through
entities and is not intended to be used and should not be used by anyone other
than these specified parties.
WEAVER AND TIDWELL, L.L.P.
Dallas, Texas
October 23, 2009
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PLANO INDEPENDENT SCHOOL DISTRICT
NOTES TO SUPPLEMENTAL SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
YEAR ENDED JUNE 30, 2009
1.
The District utilizes the fund types specified in the Texas Education Agency Resource
Guide.
Special Revenue Funds are used to account for resources restricted to, or designated
for, specific purposes by a grantor. Federal and state awards generally are accounted
for in a Special Revenue Fund. Generally, unused balances are returned to the grantor
at the close of specified grant periods.
2.
The accounting and financial reporting treatment applied to a fund is determined by its
measurement focus. The Governmental Fund types are accounted for using a current
financial resources measurement focus. All Federal grant funds were accounted for in a
Special Revenue Fund which is a Governmental Fund type. With this measurement
focus, only current assets and current liabilities and the fund balance are included on the
balance sheet. Operating statements of these funds present increases and decreases in
net current assets.
The modified accrual basis of accounting is used for the Governmental Fund types and
Agency Funds. This basis of accounting recognizes revenues in the accounting period
in which they become susceptible to accrual, i.e., both measurable and available, and
expenditures in the accounting period in which the fund liability is incurred, if
measurable, except for unmatured interest on General Long-Term Debt, which is
recognized when due, and certain compensated absences and claims and judgments,
which are recognized when the obligations are expected to be liquidated with
expendable available financial resources.
Federal grant funds are considered to be earned to the extent of expenditures made
under the provisions of the grant, and, accordingly, when such funds are received, they
are recorded as deferred revenues until earned.
3.
The period of availability for federal grant funds for the purpose of liquidation of
outstanding obligations made on or before the ending date of the federal project period
extended 30 days beyond the federal project period ending date, in accordance with
provisions in Section H, Period of Availability of Federal Funds, Part 3, OMB Circular A133 Compliance Statement - Provisional 6/97.
4.
The District participates in numerous state and federal grant programs, which are
governed by various rules and regulations of the grantor agencies. Costs charged to the
respective grant programs are subject to audit and adjustments by the grantor agencies;
therefore, to the extent that the District has not complied with rules and regulations
governing the grants, refund of any money received may be required and the
collectability of any related receivable at June 30, 2009 may be impaired. In the opinion
of the District, there are no significant contingent liabilities relating to compliance with the
rules and regulations governing the respective grants; therefore, no provision has been
recorded in the accompanying financial statements for such contingencies.
121
PLANO INDEPENDENT SCHOOL DISTRICT
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED JUNE 30, 2009
I. Summary of the Auditor's Results:
Financial Statements
a. An unqualified opinion was issued on the financial statements.
b. Internal control over financial reporting:
Material weakness(es) identified?
Yes
Significant deficiency(ies) identified that are not
considered a material weakness?
Reported
Yes
c. Noncompliance material to financial
statements noted.
Yes
X
No
X None reported
X No
Major Programs
d. Internal control over major programs:
Material weakness(es) identified?
Yes
X
No
Significant deficiency(ies) identified that are not
considered a material weakness?
Yes
X
None reported
e. An unqualified opinion was issued on compliance for major programs.
f.
Any audit findings disclosed that were required to be
reported under Section 510(a) or OMB Circular
A-133.
Yes
X No
g. Identification of major programs:
10.555
National School Lunch Program
h. The dollar threshold used to distinguish between Type
A and Type B programs.
$736,874
i.
Auditee qualified as a low-risk auditee.
X Yes
122
No
PLANO INDEPENDENT SCHOOL DISTRICT
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED JUNE 30, 2009
II. Findings Relating to the Financial Statements Which Are Required To Be Reported in
Accordance with Generally Accepted Government Auditing Standards.
None
III. Findings and Questioned Costs for Federal Awards Including Audit Findings as
Described in 1.f Above
None
123
PLANO INDEPENDENT SCHOOL DISTRICT
SUMMARY OF PRIOR YEAR AUDIT FINDINGS
YEAR ENDED JUNE 30, 2009
IV. Findings Relating to the Financial Statements Which Are Required To Be Reported in
Accordance with Generally Accepted Government Auditing Standards.
FINDING #08-1
Condition:
The District failed to record federal financial assistance received due to a change in
the method of delivery of donated commodities.
Current Status:
The District was in compliance with this requirement for the fiscal year ending
June 30, 2009.
FINDING #08-2
Condition:
The District did not record expenditures classified as Program 22 – Career and
Technology – in the amount of or in excess of 90% of the Career and Technology
allotment as required by the Texas Education Agency (TEA).
Current Status
The District was in compliance with this requirement for the fiscal year ending
June 30, 2009.
124