Fund balances are a hot topic in DCSD. Fund balance figures are spread through social media and there is much confusion as to what the balances are actually made up of. Our priority here at DougCo Parent Alliance is that you have complete and accurate information. Not just that the fund balances increased, but why they increased, where the money came from and what the money has been set aside for.
We have listed the categories below in which the fund balance is broken up into. Non spendable, restricted, committed, assigned, and unassigned.
The fund balances for the 2011-2012 had several new categories which are, Extended Service Severance, Fiscal Year 2014 PERA increases, School Discretionary Fund, and One Time Retention Pay. The district has set this money aside in the 2011-2012 school year to pay for these items in future school years.
The entire Draft CAFR is available for review here. The figures we posted below are from page 75 in the CAFR.
Nonspendable– Includes amounts that cannot be spent because they are either not spendable in form or are legally or contractually required to be maintained intact.
Restricted – Includes amounts restricted by external sources (creditors, laws of other governments, etc.) or by constitutional provision or enabling legislation.
Assigned – Includes amounts the District intends to use for a specific purpose, but do not meet the definition of restricted or committed fund balance. Under the District’s adopted policy, the Board delegates authority to the Superintendent or the Chief Financial Officer.
Unassigned – Includes amounts that have not been assigned to other funds or restricted, committed or assigned to a specific purpose within the General Fund.
|Inventories||$ 727,782.00||$ 696,648.00||$ (31,134.00)|
|Prepaid Costs||$ 35,000.00||$ 108,894.00||$ 73,894.00|
|Emergencies||$ 11,745,301.00||$ 12,790,000.00||$ 1,044,699.00|
|Full Day Kindergarten||$ 4,490,780.00||$ 5,528,444.00||$ 1,037,664.00|
|Early Separation||$ 4,759,164.00||$ 3,159,164.00||$ (1,600,000.00)|
|Extended Service Severance||$ 6,000,000.00||$ 6,000,000.00|
|FY 2014 PERA Increase||$ 2,200,000.00||$ 2,200,000.00|
|School Discretionary Funds – $125/student||$ 6,400,000.00||$ 6,400,000.00|
|One time Retention Pay||$ 5,600,000.00||$ 5,600,000.00|
|Insurance||$ 783,884.00||$ 2,783,610.00||$ 1,999,726.00|
|Transportation||$ 249,425.00||$ 652,543.00||$ 403,118.00|
|School Carryover Funds||$ 8,528,797.00||$ 19,121,379.00||$2,290,303.00|
|Department Carryover Funds||$ 8,302,279.00|
|Capital Projects||$ 17,290,639.00|
|Unassigned||$ 26,815,727.00||$ 18,052,019.00||$ (8,763,708.00)|
|Total Fund Balances||$ 66,438,139.00||$ 100,383,340.00||$ 33,945,201.00|
The revenue that increased several of these fund balance came from higher than forecasted state revenues and better than expected delinquency rate on property taxes.
We hope that this information will help you better understand the DCSD Fund Balances.