Significant Financial Events
Fiscal Year 2000 – 2001
July 1, 2000 – June 30, 2001
Board Approved August 28, 2001
John W. Rogers
Superintendent of Schools
SIGNIFICANT FINANCIAL EVENTS DURING 2000-2001
A
COMPARISON OF FUNDING DATA ELEMENTS:
2000-01
1999-00
INCREASE (DECREASE)
% VARIANCE
1
2
3
4
5
UNWEIGHTED
FTE
WEIGHTED
FTE
BASE STUDENT
ALLOCATION
LOTTERY
AD VALORUM
TAXES
22,020.45
21,643.50
376.95
1.74%
23,505.57
25,919.75
(2,414.18)
-9.31%
6
7
DISTRICT COST
DIFFERENTIAL
TAX
ROLL
$3,416.73
$3,227.74
$188.99
5.86%
8
MAJOR
CATEGORICALS
93.8200%
$4,198,494,997
93.9800%
$3,842,518,462
-0.1600%
$355,976,535
-0.17%
9.26%
See attached General School Fund Balance graphs on pages 2 & 3.
2000-01
1999-00
INCREASE (DECREASE)
% VARIANCE
$8,216,824.00
$11,702,396.00
($3,485,572.00)
-29.79%
$1,614,105.00
$1,939,108.00
($325,003.00)
-16.76%
$32,881,785.09
$29,590,974.68
$3,290,810.41
11.12%
9
10
FEFP
GSF REVENUE
PER UFTE
$67,967,043.00
$62,393,971.00
$5,573,072.00
8.93%
$5,190.90
$5,000.86
$190.03
3.80%
B
The State of Florida has issued 2001-B SBE bonds to refinance the 1992-A SBE issue. Because of the interest rate difference
between the two issues, there are interest savings that will make more funds available for CO&DS annual revenue.
C
During the 2001 Legislative session, the "Sharpening the Pencil" Act was passed. This legislation provides for OPPAGA
to conduct a management audit ever five years. Santa Rosa County will be included in the 2001-2002 cycle of audits.
D
The following construction projects were completed during the past fiscal year:
E
Capitalized Costs
$681,389.19
$9,619,211.79
$957,744.15
$823,171.10
$1,075,697.98
$1,826,762.80
$756,362.36
$1,434,897.15
$31,405.68
$523,426.61
$1,063,358.69
$472,583.74
$1,077,272.05
$742,717.70
$1,020,374.11
$50,688.88
$22,157,063.98
Gulf Breeze Middle Band & Classroom Addition
Woodlawn Beach Middle School
Gulf Breeze High Language Arts & Cafeteria
Rhodes Art & Administrative Addition
Milton High Guidance Center
Pace High Administrative Addition
King Middle Media Center Addition
Bagdad - ESE & Primary Additions
T.R. Jackson Bathroom Addition
Jay Elementary School Cafeteria Expansion
Jay Elementary 8 Classroom Addition
Sims Middle ESE & Classroom Addition
Navarre High Fieldhouse
Berryhill Elementary 6 classroom Addition
East Milton classroom Addition
T.R. Jackson Playground Toilet Facility
TOTAL
The following large construction projects are near completion @ June 30, 2001:
Costs Thru June 30
GBE/OBE Covered Play Area
HNI/HNP Covered Play Area
Milton High Girls' Locker Room Expansion
Milton High Boys' Weight Room Expansion
Pace High Concession and Toilet Facility
Hobbs ESE/Office Additions
Navarre High Additions/Alterations
TOTAL
Page 1
$418,247.90
$545,060.30
$378,702.35
$228,560.00
$83,711.80
$419,235.22
$854,912.70
$2,928,430.27
Estimated to Close
$6,552.10
$7,999.70
$5,713.43
$4,315.00
$947.50
$133,785.61
$1,934.90
$161,248.24
F
The Board has contracted with Laidlaw Transit to provide Transportation Services for the Santa Rosa County School Board
for the 98-99 school year through the 2002-03 school year. Laidlaw operates the program with Board oversight for a fee
certain modified by growth and inflation. See pages 4 & 5 for graphs illustrating the last ten years' activity.
G
The Board has contracted with Sodexho Marriott to provide Management of the Santa Rosa Food Service Program for the
97-98 fiscal period with the option to renew four additional one year terms upon agreement of the parties. Attached
graphs (pgs 6, 7 & 8) show the Fund Balances for the past ten years.
H
Direct Deposit of Payroll was implemented during the October 1995 payroll cycle. Currently 1175 employees use this
benefit which saves them the float on their pay and gives them immediate access to the funds. This represents 51% of the
Board's 2307 contract employees utilizing this service.
I
The following Departments processed payments
(Checks & Direct Deposits):
This is an increase of 155 checks per mth over 1999-00.
J
GASB 34 calls for significant financial statement format changes for the 2001-2002 reporting period. There will be a new section
of required disclosure added to the front of the present statement format. In essence, these changes are more of an add-on to
the present format. This section will be presented on a full accrual accounting basis. Property control and Data Processing have
made the necessary upgrades in programs and file management to provide for the required depreciation calculations on capitalized
property. Furthermore, members of the Finance staff have attended and will continue to attend training sessions concerning this
change. One such change is that leave liability will be included in the funds of ownership which may place the fund balance in a deficit
position. While these concepts are foreign to governmental statement users, they will be the norm for all future financial statements
produced for not-for-profit entities. That is to say, that we are not the only school district in Florida that will be dealing with this
transition.
Payroll
Accounts Payable
Total Disbursements
Page 1
37,877
11,356
49,233
3,156 /mth
946 /mth
4,103 /mth
GENERAL SCHOOL FUND BALANCE
RESERVED FD BAL
$20,000,000
UNRESERVED
TOTAL
$18,000,000
$16,000,000
$14,000,000
FUND
BALANCES
$12,000,000
$10,000,000
$8,000,000
$6,000,000
$4,000,000
$2,000,000
$0
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
1997-98
1998-99
1999-00
2000-2001
RESERVED FD BAL $2,647,490.99 $2,775,187.55 $2,433,931.54 $3,409,421.40 $4,389,742.98 $4,975,390.80 $5,319,837.19 $5,642,889.63 $8,349,768.53 $6,979,888.03
UNRESERVED
$7,108,244.23 $5,389,334.51 $3,155,817.81 $2,853,695.63 $3,485,788.54 $4,825,562.98 $6,937,913.68 $8,531,283.82 $9,100,948.89 $6,384,356.26
TOTAL
$9,755,735.22 $8,164,522.06 $5,589,749.35 $6,263,117.03 $7,875,531.52 $9,800,953.78 $12,257,750.87 $14,174,173.45 $17,450,717.42 $13,364,244.29
Page 2
FUND BALANCE PER UFTE
$900
$806
$800
$700
$650
$607
FUND
BALANCES/UFTE
$600
$578
$500
$574
$466
$459
$393
$400
$323
$301
$300
$200
$100
$0
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
FISCAL YEAR
Page 3
1997-98
1998-99
1999-00
2000-2001
TRANSPORTATION COSTS BY YEAR
TOTAL COSTS
CATEGORICAL FUNDING
$9,048,137
$9,000,000
$8,012,455
$8,000,000
$7,235,926
$7,000,000
$6,665,740
COSTS
$5,960,107
$6,000,000
$5,143,289
$5,043,536
$5,000,000
$4,121,250
$4,000,000
$4,640,941.00
$3,669,875
$5,014,261.00
$4,952,478.00
1998-99
1999-00
$4,635,029.00
$4,843,914.00
$4,099,559.00
$3,313,377
$3,554,157.00
$3,000,000
$2,787,322.00
$2,915,531.00
$3,109,810.00
$2,000,000
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
FISCAL YEAR
** Laidlaw Transit began servicing the Santa Rosa County School District in the 1998-1999 school year.
Page 4
1997-1998
2000-2001
TRANSPORTATION COSTS PER RIDER
$700
$600
$592
$525
$500
COSTS/RIDER
$473
$436
$400
$388
$300
$375
$389
$306
$284
$264
$200
$100
$0
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
FISCAL YEAR
Sources:
ESE Form 233
Transportation Report ZXSB10-C
Page 5
1997-1998
1998-99
1999-00
2000-2001
SCHOOL FOOD SERVICE-FUND BALANCES BY YEAR
FUND BALANCE
INVENTORY
$1,200,000
$1,000,000
$1,095,605
$1,027,789
$945,397
$800,000
FUND
BALANCES/INVENTORY
$600,000
$400,000
$647,824
$313,030.81
$299,562.27
$310,818.85
$380,436.00
$345,821.10
$281,823.32
$245,603.38
$293,055.07
$163,427.73
$200,000
$216,488
$142,593
$204,696.33
$179,602
$0
$10,277
$10,685
$185
1998-99
1999-00
2000-2001
$200,000
$400,000
$600,000
$800,000
$1,000,000
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
FISCAL YEAR
1997-98
General School Fund transferred $0 to School Food Service in addition to $63,267.00 in fees rebate from Sodexho to meet guaranteed fund balance at June 30, 1998.
General School Fund transferred $151,000 to School Food Service in addition to $63,794 in fees rebate from Sodexho to cover shortfall in operations at June 30, 1999.
General School Fund transferred $ 135,000 to School Food Service in addition to $ 51,567.67 in fees rebate from Sodexho to cover shortfall in operations at June 30, 2000.
General School Fund transferred $ 207,000 to School Food Service in addition to $ 74,054.70 in fees rebate from Sodexho to cover shortfall in operations at June 30, 2001.
Page 6
SCHOOL FOOD SERVICE-FUND BALANCES BY YEAR
WITHOUT TRANSFERS
$1,200,000
$1,000,000
$1,095,605
$1,027,789
$945,397
$800,000
$600,000
$647,824
FUND
BALANCES
$400,000
$200,000
$216,488
$142,593
$179,602
$0
$200,000
($140,723)
($275,315)
$400,000
($492,815)
$600,000
$800,000
$1,000,000
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
FISCAL YEAR
Page 7
1997-98
1998-99
1999-00
2000-2001
SCHOOL FOOD SERVICE-FUND BALANCES BY YEAR
WITHOUT TRANSFERS & MANAGEMENT FEES
$1,200,000
$1,000,000
$1,095,605
$1,027,789
$945,397
$800,000
$600,000
$647,824
FUND
BALANCES
$400,000
$200,000
$216,488
$142,593
$0
$116,335
$200,000
($267,784)
$400,000
($453,943)
$600,000
$800,000
($745,498)
$1,000,000
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
FISCAL YEAR
Page 8
1997-98
1998-99
1999-00
2000-2001