Niles Township High School District 219 Skokie, Illinois
Comprehensive Annual Financial Report For the Fiscal Year Ended June 30, 2011
Niles Township High School District 219 Skokie, Illinois
Comprehensive Annual Financial Report
Fiscal Year Ended June 30, 2011
Officials Issuing Report Paul O'Malley Susan Husselbee
Assistant Superintendent for Business Services Director of Fiscal Services
Department Issuing Report Business Office
Niles Township High School District 219 COMPREHENSIVE ANNUAL FINANCIAL REPORT For the Year Ended June 30, 2011 TABLE OF CONTENTS
Page TABLE OF CONTENTS
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INTRODUCTORY SECTION Organizational Chart Officers and Officials Transmittal Letter Association of School Business Officials International-Certificate of Excellence Certificate of Achievement for Excellence in Financial Reporting FINANCIAL SECTION Independent Auditors' Report Management's Discussion and Analysis Basic Financial Statements Government-wide Financial Statements Statement of Net Assets - Governmental Activities Statement of Activities Fund Financial Statements Balance Sheet - Governmental Funds Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Assets Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities Statement of Fiduciary Assets and Liabilities Notes to the Financial Statements Required Supplementary Information (Unaudited) Schedule of Funding Progress - Illinois Municipal Retirement Fund Schedule of Funding Progress - Other Postemployment Benefits Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual - General Fund
iv v vi - xi xii xiii
1-2 3 - 13
14 15 16 - 17 18 19 - 20
21 22 23 - 53 54 55 56 - 69
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Niles Township High School District 219 COMPREHENSIVE ANNUAL FINANCIAL REPORT For the Year Ended June 30, 2011 TABLE OF CONTENTS
Page FINANCIAL SECTION (Continued) Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual - Operations and Maintenance Fund Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual - Transportation Fund Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual - Municipal Retirement/Social Security Fund Notes to the Required Supplementary Information OTHER SUPPLEMENTARY FINANCIAL INFORMATION General Fund Combining Balance Sheet Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances Individual Fund Statements and Schedules Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual - Debt Service Fund Schedule of Revenues, Expenditures, and Changes in Fund Balances Capital Projects Fund Schedule of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual - Fire Prevention and Safety Fund Schedule of Changes in Assets and Liabilities - Agency Fund - Student Activity Funds General Long-Term Debt Schedule of General Obligation Bonds STATISTICAL SECTION (Unaudited) Statistical Section Contents Net Assets - Last Nine Fiscal Years Changes In Net Assets - Last Nine Fiscal Years Fund Balances - Governmental Funds - Last Ten Fiscal Years Governmental Funds Revenues - Last Ten Fiscal Years Governmental Funds Expenditures and Debt Service Ratio - Last Ten Fiscal Years Government-wide Revenues - Last Nine Fiscal Years Property Tax Rates - Levies and Collections - Last Ten Tax Levy Years Equalized Assessed Valuation and Estimated Actual Value of Taxable Property - Last Ten Levy Years
70 - 72 73 - 74 75 - 77 78
79 80
81 - 82 83 84 85 86 - 90
91 92 - 93 94 - 95 96 - 97 98 - 99 100 - 101 102 - 103 104 - 105 106
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Niles Township High School District 219 COMPREHENSIVE ANNUAL FINANCIAL REPORT For the Year Ended June 30, 2011 TABLE OF CONTENTS
Page STATISTICAL SECTION (Unaudited) - Continued Property Tax Rates - Direct and Overlapping Governments - Last Ten Tax Levy Years Major Categories of Equalized Assessed Valuation Direct and Overlapping General Obligation Bonded Debt Legal Debt Margin - Last Ten Fiscal Years Ratio of Net General Bonded Debt to Assessed Value and Net General Bonded Debt per Capita - Last Ten Fiscal Years Ratio of Annual Debt Service Expenditures for General Bonded Debt to Total General Expenditures - Last Ten Fiscal Years Ratio of Outstanding Debt by Type - Last Ten Fiscal Years Principal Taxpayers in the District - Current Tax Year and Nine Years Ago Principal Employers - Current Year and Two Years Ago Demographic and Economic Statistics - Last Ten Years School Building Information - Last Ten Fiscal Years Number of Employees by Function - Last Ten Fiscal Years Operating Indicators by Function District History Schedule of Insurance in Force Operating Expenditures Per Student
107 108 - 109 110 111 - 112 113 114 115 116 117 118 119 - 120 121 - 122 123 124 - 127 128 - 131 132
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INTRODUCTORY SECTION
General School Administration Organizational Chart
Board of Education
Superintendent
Asst. Superintendent for Special Ed & Pupil Personnel Services
Special Education Directors (2) Special Education Administrators (3)
Central Building Principal
Asst. Superintendent for Curriculum & Instruction
North & West Building Principals
Assistant Principals for Pupil Personnel Services (2)
Athletic Directors (2) Asst. Athletic Directors (2)
Assistant Principals for Operations (2)
Student Activities Directors (2)
Asst. Superintendent for Business Services
Directors of Instruction · Applied Science & Technology · ELL & Foreign Language · English & Reading (2) · Fine Arts · Math (2) · Physical Welfare · Social Studies · Science
National College Advisor Director of Security (2)
ADOPTED:
Deans (6)
October 18, 2010
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Asst. Superintendent for Human Resources and Chief Legal Officer
Directors of Buildings & Grounds (2)
Director of Fiscal Services
Purchasing Administrator
Director of Human Resources
Chief Technology Officer
Technology Administrators (3)
Director of Community Relations
Education to Careers Coordinator
Niles Township High School District 219 7700 Gross Point Road Skokie, Illinois 60077 Comprehensive Annual Financial Report Officers and Officials Fiscal Year Ended June 30, 2011 Board of Education Term Expires Robert Silverman Sheri Doniger Carlton Evans Jeffrey Greenspan Ruth Klint Lynda Smith Eileen Valfer
President Vice President Secretary Secretary Pro Tem Member Member Member
2013 2015 2015 2015 2013 2013 2015
Township School Treasurer Martin Paltzer District Administration Dr. Nanciann Gatta Paul O'Malley
Superintendent Assistant Superintendent for Business Services Officials Issuing Report
Paul O'Malley Susan Husselbee
Assistant Superintendent for Business Services Director of Fiscal Services Principals
Dr. Ryan McTague Kaine Osburn
Niles North Niles West Department Issuing Report Business Office
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March 27, 2012 President and Members of the Board of Education Niles Township High School District 219 Skokie, Illinois Dear Members of the Board: The Illinois State Board of Education requires that every school district issue a complete set of audited financial statements. This report is published to fulfill that requirement for fiscal year ended June 30, 2011. The Comprehensive Annual Financial Report of Niles Township High School District 219, Skokie, Illinois, for the fiscal year ended June 30, 2011 is submitted herewith. The audit field work was completed on March 27, 2012 and the report was subsequently issued. Management assumes full responsibility for the completeness and reliability of the information contained in this report, based on a comprehensive framework of internal control that has been established for this purpose. Because the cost of internal control should not exceed anticipated benefits, the objective is to provide reasonable, rather than absolute, assurance that the financial statements are free of any material misstatements. Miller, Cooper & Co., Ltd., Certified Public Accountants, have issued an unqualified (“clean”) opinion on the Niles Township High School District 219 financial statements for the year ended June 30, 2011. The independent auditors’ report is located at the front of the financial section of this report. Management’s discussion and analysis (MD&A) immediately follows the independent auditors’ report and provides a narrative introduction, overview and analysis of the basic financial statements. MD&A complements this letter of transmittal and should be read in conjunction with it.
Profile of the District Niles Township High School District 219, located approximately thirteen miles north of downtown Chicago, Illinois, is a high school district (grades 9 – 12) in Skokie, Illinois, which operates as an independent single district. During fiscal year 2011, the District served 4,728 students in two high schools (Niles North and Niles West) as well as in Niles Central, which is housed in the same building as the central administrative offices.
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The governing body consists of a seven-member Board of Education elected from within the Niles Township boundaries and serve four-year terms. Based on the legislative authority codified in The School Code of Illinois, the Board of Education has the following powers: a. has the corporate power to sue and be sued in all courts, b. has the power to levy and collect taxes and to issue bonds, c. can contract for appointed administrators, teachers, and other personnel, as well as for goods and services. The Board of Education appoints a superintendent who, in turn, recommends to the Board of Education the appointment of the remaining administrative team. An organizational chart is provided at the front of this report. District 219 serves students of the Villages of Skokie, Lincolnwood, Morton Grove, and Niles and offers its diverse student population a broad cross-section of courses and opportunities tailored to the needs of every student. Over 250 courses are available for students including advanced placement, honors, STEM inquiry and research, Project Lead the Way (engineering program), fine arts, comprehensive English Language Learner (ELL) services, and a top-notch special education program. We also encourage student involvement in extracurricular activities, athletics and clubs. There are more than 20 competitive sports and 90 clubs for our students to join. The District is required to adopt an annual budget for all its funds by September 30 of each year. The annual budget serves as a foundation for financial planning and control. The budget is prepared by fund, function (e.g., instruction, support services), location, program, and object (e.g., salaries, employee benefits). The Board of Education approves the hiring of employees, awarding of bids, and payments to vendors at its regular meetings throughout the year.
Local Economy Niles Township is in Cook County, Illinois. The majority of Niles Township is composed of the Villages of Skokie, Lincolnwood, Morton Grove, and Niles. The major industries include retail stores, medical centers, manufacturers, and distributors. Over the past nine years, the combined assessed valuation of industrial and commercial property averaged over 49 percent of the total property valuation within Niles Township, which lessens the property tax burden on residential homeowners. The June 2011 Cook County unemployment rate was approximately 10.8%. The state and national unemployment rates for the same period were 9.1% and 9.2%, respectively. In February 1995, the Illinois General Assembly passed a tax cap legislation (P.L. 89-1) for Cook County making it retroactive to the 1994 tax year. This legislation, known as the Property Tax Extension Limitation Law Act, controls the District’s ability to generate property tax revenues. In addition to P.L. 89-1, the Illinois General Assembly amended Article 20, which limits the amount of debt service taxes a district can generate through the sale of non-referendum bonds to the district’s 1994 aggregate nonreferendum debt service amount. For District 219, this limit is $2,864,970. In order for a district to increase its property tax rates, a referendum question would need to be put to the voters. In March 2004, the voters of District 219 approved a referendum increasing the Educational property tax rate by 23 cents from 1.2991 to 1.5291.
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For information regarding the District’s financial position and respective changes in financial position, please read the Management’s Discussion and Analysis on pages 3 – 13.
Long-Term Financial Planning Although the District has benefited from the successful referendum, it still needs to be fiscally prudent. Key areas of concern are delayed state funding, costs of complying with 29 Illinois laws and 100 specific instructional mandates, growing English Language Learner population resulting in increased costs for remedial reading and math programming, and growing special education student needs. The District is actively reducing expenditures, where possible. Reductions of $2.4 million occurred in fiscal years 2009 and 2010. The staff restructuring for fiscal year 2011 re-allocated $1.15 million to the departments of Math and English in accordance with Board Goal 1. District finances are monitored through such means as monthly financial reports to the Board of Education, the annual budget process, and long-term financial projections. The Superintendent established a Superintendent’s Financial Advisory Committee (SFAC) consisting of parents, local governmental officials, business owners, community members, administration, and teachers. The SFAC meets at the Superintendent’s discretion, but, minimally, once per year.
Relevant Financial Policies Budget planning begins no later than March by adopting a proposed budget calendar. The proposed budget shall be available for public inspection and comment at least 30 days before the budget hearing. Within 30 days of adoption, the budget needs to be filed with the Cook County Clerk’s office and filed electronically with the Illinois State Board of Education (ISBE). Also, the adopted budget shall be posted on the District’s website. The Board of Education may amend the budget by following the same procedure as provided for in the original adoption. The Board of Education shall act on all expenditures, interfund loans and transfers, and transfers within funds in excess of 10 percent of the total fund. The Township Treasurer serves as the Chief Investment Officer. The Township Treasurer invests money that is not required for current operations, in accordance with Board policy and state law. See the Notes to the Basic Financial Statements for additional information on cash and investments. The certificate of property tax levy is to be filed with the Cook County Clerk’s office by the last Tuesday in December. The District annually publishes a statement of affairs regarding its financial position by December 1 each year.
Major Initiatives At its June 15, 2009 meeting, the Board of Education approved the five interventions in the plan document, “A Vision for the Future of District 219”. Detailed plans, including targets, timelines, resources, and evaluation plans, are on the District’s website. The following are summaries of this vision:
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Advancing and Integrating Science, Technology, Engineering, and Mathematics (STEM) and 21st Century Literacies By providing state of the art STEM research centers for our students, District 219 students will be prepared for higher education and continued study in STEM education. Our students will be more likely to pursue a career as scientists, mathematicians, engineers, and researchers into the workforce in our community and beyond. As part of the 21st Century Literacies board goal, we have identified a need to review the Mathematics, Science, and Reading/English programs of study. We are conducting a full analysis of course sequencing as it relates to student achievement including student growth through EPAS Program (test scores from EXPLORE, PLAN, Practice ACT and ACT/PSAE), the impact of courses and course sequencing, the placement of students and graduation requirements. Special attention is being paid to entry level course selections and student access to higher level curriculum. Ensuring a Guaranteed and Rigorous Curriculum and Common Final Exam Each course will have a District-wide core curriculum guide and complementing common final exam, which will be administered each semester. The purpose of this goal is to assess student performance in District 219 as follows:
Guarantee similar learning opportunities for students taking the same course at North, West, and Central Evaluate student academic performance on course learning targets (coded to State Standards or other department-wide selected standards) that the District believes to be crucial to student learning Use assessment data to improve student learning Modify and adjust curriculum
By fall of 2014, every course will have a Curriki, common curriculum guide, learning targets, and a common final assessment. Engaging Students in Anywhere-Anytime Learning (AAL) by Providing Laptop Computers to Expand Their Learning Opportunities Our students are citizens of the 21st century. They read, communicate, collaborate, socialize, work, explore, and learn with personal technologies. Schools can begin to capitalize on the talents and interests of this collaborative, resourceful, and innovative generation of thinkers by bringing them the tools that they are already familiar with and use them for their academic achievement. There are three main elements of the Anywhere-Anytime 21st Century Learning plan:
Pedagogical support – Teachers and staff will be provided the professional development and technical support to fully integrate technology into instruction Hardware deployment and support – Mobile devices will be deployed to students, kept secure, and maintained in working order Infrastructure and networking consideration – The infrastructure will support a widescale deployment of mobile computing solutions for students
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There is a large body of evidence which shows that technology motivates learning. Anywhere-Anytime Learning (AAL), facilitated by a 1:1 deployment, bridges the digital divide where all students have equal access to information, learning resources, and the digital tools that will make the difference in their success in the 21st century working and learning environment. Committing to a Five-Year Comprehensive Capital Improvement Plan All three locations, Niles North, Niles West, and Niles Central/District Office, have established a fiveyear capital plan to improve the facilities to meet the goals set by the Board of Education. Highlights of the comprehensive plan include Niles North grandstands and press box, renovating Niles North athletic fitness/dance cardio area, relocating Niles West’s gymnastics gym, adding to Niles West a training room and cardio lab, and renovating the existing pool and building a new pool at Niles North. Establishing and Enhancing Partnerships with Parents, Community Organizations, and Outside Agencies to Strengthen our Community of Learners Research shows that there is a convincing link between student achievement and various approaches to parent and community involvement, including increased academic achievement. Research also indicates that when communities and agencies partner with schools, students receive benefits such as higher quality learning programs and new resources and programs to improve teaching and the curriculum. District 219 already has established some partnerships like Artists in Residency, Abbott Labs, English Language Learners Parent Center and athletic intergovernmental agreements with park districts and Village of Lincolnwood. Every department will establish relationships with outside agencies, initiate programs that incorporate parents and/or the community into the pedagogy and content of their discipline, and teachers will evidence the ways they include parents in their student’s education and participation in class.
Awards and Acknowledgements Government Finance Officers Association (GFOA) GFOA awarded a Certificate of Achievement for Excellence in Financial Reporting to Niles Township High School District 219 for its comprehensive annual financial report (CAFR) for the fiscal year ended June 30, 2010. This is the tenth consecutive year that the District has received this prestigious award. In order to be awarded a Certificate of Achievement, the District had to publish an easily readable and efficiently organized CAFR that satisfied both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe that our current CAFR continues to meet the Certificate of Achievement Program’s requirements, and we are submitting it to the GFOA to determine its eligibility for another certificate. Association of School Business Officials International (ASBO) ASBO awarded a Certificate of Excellence in Financial Reporting to Niles Township High School District 219 for its comprehensive annual financial report (CAFR) for the fiscal year ended June 30, 2010. This is the tenth consecutive year that the District has received this prestigious award. In order to be awarded a Certificate of Excellence, the District had to prepare and issue a high-quality CAFR that met or exceeded the standards of the program. A Certificate of Excellence is valid for a period of one year only. We believe that our current CAFR continues to meet the Certificate of Excellence Program’s requirements, and we are submitting it to the ASBO to determine its eligibility for another certificate.
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The preparation of this report would not have been possible without the efficient and dedicated service of the entire Business Office staff. We wish to express our appreciation to all members of the Business Office department who assisted and contributed to the preparation of this report. Also, credit must be given to the Board of Education President and members for their desire and commitment to maintain the highest standards of professionalism in the management of Niles Township High School District 219 finances. Respectfully submitted,
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FINANCIAL SECTION
INDEPENDENT AUDITORS' REPORT The Members of the Board of Education Niles Township High School District 219 Skokie, Illinois We have audited the accompanying financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of Niles Township High School District 219, as of and for the year ended June 30, 2011, which collectively comprise Niles Township High School District 219's basic financial statements, as listed in the table of contents. These financial statements are the responsibility of Niles Township High School District 219's management. Our responsibility is to express opinions on these financial statements based on our audit. The prior year summarized comparative information has been derived from the District’s June 30, 2010 financial statements and, in our report dated March 11, 2011, we expressed unqualified opinions on the respective financial statements of the governmental activities, each major fund and the aggregate remaining fund information. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinions. In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of Niles Township High School District 219 as of June 30, 2011, and the respective changes in financial position thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America. In accordance with Government Auditing Standards, we have issued our report dated January 13, 2012 on our consideration of Niles Township High School District 219'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 that 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. (Continued)
The Members of the Board of Education Niles Township High School District 219
(Continued)
The management's discussion and analysis on pages 3 through 13, the Illinois Municipal Retirement Fund historical data on page 54, the other postemployment benefits data on page 55, and the budgetary comparison schedules and notes to required supplementary information on pages 56 through 78 are not a required part of the basic financial statements but are supplementary information required by accounting principles generally accepted in the United States of America. 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 opinions on the financial statements that collectively comprise Niles Township High School District 219's basic financial statements. The other schedules, listed in the table of contents as other supplementary financial information, are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information 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. The accompanying introductory and statistical sections, as listed in the table of contents, are presented for purposes of additional analysis and are not a required part of the basic financial statements. This information has not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we express no opinion on them. MILLER, COOPER & CO., LTD.
Certified Public Accountants Deerfield, Illinois March 27, 2012
Niles Township High School District 219 Management’s Discussion and Analysis For the Year Ended June 30, 2011 As management of the Niles Township High School District 219 (“District”) finances, we offer readers of the Niles Township High School District 219 financial statements this narrative overview and analysis of the financial activities of the Niles Township High School District 219 for the fiscal year ended June 30, 2011. We encourage readers to consider the information presented here in conjunction with additional information that we have furnished in our transmittal letter at the front of this report.
Financial Highlights
District 219 improved its overall financial position for fiscal year 2011 from fiscal year 2010. Total revenue of $148,021,149 exceeded expenses of $139,303,819 by $8,717,330. The assets of the District exceeded its liabilities at June 30, 2011 by $151,445,399 (net assets). Of this amount, $59,386,202 represents unrestricted net assets. Total governmental fund expenditures of $151,201,310 exceeded total governmental fund revenue of $148,021,149 by $3,180,161. As of June 30, 2011, the total fund balance for all governmental funds equaled $157,054,453, which is a $29,560,725 increase from the prior year. Approximately 75.34% of the total fund balance is available for spending at the District’s discretion (unassigned fund balance).
Overview of the Financial Statements This management’s discussion and analysis (MD&A) is intended to serve as an introduction to the Niles Township High School District 219 basic financial statements. The District’s basic financial statements consist of three parts: government-wide financial statements, fund financial statements, and notes to the basic financial statements. Government-Wide Financial Statements These statements are designed to provide readers with a broad overview of the District’s finances, in a manner similar to private-sector businesses. 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 financial position of the District is improving or deteriorating. The Statement of Activities presents information showing 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. Thus, revenues and expenses are reported in future fiscal years (e.g., uncollected taxes). The government-wide financial statements can be found on pages 14 - 15 of this report. Fund Financial Statements A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The District, like other state and local governments, use fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the District’s funds fall into two categories: governmental funds and fiduciary funds.
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Niles Township High School District 219 Management’s Discussion and Analysis For the Year Ended June 30, 2011 Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government’s near-term financing requirements. Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the District’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities. The District maintains seven individual governmental funds. Information is presented separately in the governmental funds balance sheet and in the governmental funds statement of revenues, expenditures, and changes in fund balances for the general fund, special revenue funds, debt service fund, and capital projects funds. For reporting purposes, the District is classifying each of its governmental funds as a major fund. The District adopts an annual appropriated budget for all governmental funds. Budgetary comparison statements have been provided for each governmental fund to demonstrate compliance with this budget. The basic governmental fund financial statements can be found on pages 16 - 21 of this report. Fiduciary funds are used to account for resources held for the benefit of parties outside the District. Fiduciary funds are not reflected in the government-wide financial statements because the resources of those funds are not available to support the District’s own programs. The basic fiduciary fund financial statement can be found on page 22 of this report. Notes to the Financial Statements The notes are an integral part of the financial statements and provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found on pages 23 - 53 of this report. Other Information In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information (RSI) concerning the District’s operations. RSI schedules, individual fund schedules, and other supplementary financial information can be found on pages 54 - 90 of this report. The statistical section, which includes various financial, operational, and historical schedules is on pages 91 - 132 of this report.
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Niles Township High School District 219 Management’s Discussion and Analysis For the Year Ended June 30, 2011 Government-Wide Financial Analysis Net Assets As noted earlier, net assets may serve over time as a useful indicator of the District’s financial position. The following is a condensed statement of net assets as of June 30, 2011:
Table 1 Condensed Statement of Net Assets Governmental Activities Current and other assets Net capital assets Total assets
Long-term debt outstanding Other liabilities Total liabilities Net assets Invested in capital assets, net of related debt Restricted Unrestricted Total net assets
Percentage
2011 $ 248,622,680 137,754,927 386,377,607
2010 $ 206,405,589 134,347,538 340,753,127
Change 20.5% 2.5% 13.4%
170,828,765 64,103,443 234,932,208
138,864,896 59,160,162 198,025,058
23.0% 8.4% 18.6%
49,765,101 42,294,096 59,386,202 $ 151,445,399
43,461,211 30,822,466 68,444,392 $ 142,728,069
14.5% 37.2% -13.2% 6.1%
The overall net asset position of the District as of June 30, 2011 is $151,445,399, with $42,294,096 representing resources that are subject to external restrictions on how they may be used and $59,386,202 being unrestricted. A portion of the net assets, $49,765,101, is invested in capital assets (e.g., land, buildings, and equipment), net of related debt and is not available for future spending. Although the District’s investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. Most of the current and other assets are comprised of $156,525,802 in cash and investments and $59,387,702 for property taxes receivable. Long-term liabilities outstanding consist primarily of bonds of $164,231,463, and other liabilities are mostly unearned revenue of $58,287,992.
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Niles Township High School District 219 Management’s Discussion and Analysis For the Year Ended June 30, 2011 Changes in Net Assets The following table provides a condensed government-wide summary of the changes in net assets for the 2011 fiscal year:
Table 2 Changes in Net Assets Governmental Activities 2011 2010 Revenues: Program revenues: Charges for services Operating grants and contributions General revenues: Property taxes Replacement taxes Other Total revenue Expenses: Instruction-related services Support services Community services Nonprogrammed charges Other Total expenses Change in net assets Beginning net assets Ending net assets
$
2,460,915 19,746,217
$
Percentage Change
2,459,890 18,774,913
0.0% 5.2%
116,422,494 4,855,123 4,536,400 148,021,149
119,836,010 3,743,872 6,121,812 150,936,497
-2.8% 29.7% -25.9% -1.9%
73,409,256 51,566,122 458,546 12,758 13,857,137 139,303,819
67,564,458 50,347,702 233,318 41,487 5,907,412 124,094,377
8.7% 2.4% 96.5% -69.2% 134.6% 12.3%
8,717,330 142,728,069 $ 151,445,399
26,842,120 115,885,949 $ 142,728,069
-67.5% 23.2% 6.1%
Revenues Property Taxes – As depicted in the following pie chart, 78.7% of District revenue is derived from property taxes. This revenue source is limited by the state’s “tax cap” methodology. In essence, the annual growth in property tax revenues is limited to a consumer price index (CPI) factor plus new property growth in the District’s community. The CPI factor related to the 2010 levy year increased to 2.7% from the 2009 levy year rate of 0.1%. The equalized assessed valuation (EAV) decreased by $373,306,293 to $4,784,275,890 from the 2009 tax levy year. The new property for the 2010 levy year was $35,514,297, which is an increase of $5,719,100 from the prior levy year.
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Niles Township High School District 219 Management’s Discussion and Analysis For the Year Ended June 30, 2011
Charges for services
Sources of Revenue FY 2011
Operating grants Property taxes Replacement taxes Other
3.3%
3.1% 1.7%
13.3%
78.7%
Replacement Taxes – There was an increase of $1,111,251 in replacement taxes from fiscal year 2010. Other General Revenues – Investment earnings decreased by $1,487,325 from $4,306,302 to $2,818,977 for FY 2011. Expenses Salaries and employee benefits increased based on the collective bargaining agreements and individual employee contracts. Medical and dental costs increased from the prior year by $1,231,354, or 14.38%. The TRS on-behalf payment increased from $10,749,292 to $10,981,376 based on creditable earnings and the statutory contribution rate of 23.10% for fiscal year 2011. Depreciation expense increased from $8,965,360 to $9,249,774. Other changes in expense are detailed in the next section. Change in Net Assets The change in net assets for fiscal year 2011 was lower than last year by $18,124,790. In fiscal year 2010, the change in net assets equaled $26,842,120 while the change in net assets for the current year was $8,717,330.
Financial Analysis of the Government’s Funds As noted earlier, the District uses fund accounting to ensure and demonstrate compliance with financerelated legal requirements.
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Niles Township High School District 219 Management’s Discussion and Analysis For the Year Ended June 30, 2011 Governmental Funds The focus of the District’s governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the District’s financing requirements. In particular, unassigned fund balance may serve as a useful measure of a government’s net resources available for spending at the end of the fiscal year. On June 30, 2011, the total fund balance for its governmental funds equaled $157,054,453, an increase of $29,560,725 in comparison to the prior year. A portion of the fund balances has been designated as nonspendable ($384,616) and is not available for new spending because it has already been committed for prepaid items. Fund balances have also been classified as restricted ($38,340,805), which cannot be spent by the General Fund. The unassigned fund balance increased from fiscal year 2010 from $97,896,218 to $118,329,032 and is available for spending at the District’s discretion. Due to a new accounting standard, Government Accounting Standards Board 54 (GASB 54), the General Fund’s fund balance of $124,671,623 as of June 30, 2011 represents three fund balance accounts. See the chart below:
Table 3 Fund Balance Educational Account Tort Immunity & Judgment Account Working Cash Account Total General Fund
2011 $ 95,005,332 5,982,975 23,683,316 $ 124,671,623
2010 $ 74,493,931 7,291,782 23,625,483 $ 105,411,196
Percentage Change 27.5% -17.9% 0.2% 18.3%
The unassigned fund balance for all governmental funds was $118,329,032, which equals 121.28% of the General Fund expenditures and 78.26% of total governmental expenditures. The following pie chart shows the percentage of each individual fund balance in relation to the total governmental fund balance:
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Niles Township High School District 219 Management’s Discussion and Analysis For the Year Ended June 30, 2011
IMRF 1% Transpor. 3%
Debt Service Capital Projects 3% 9%
Fire Preven. 1%
General 80%
O&M 3%
General Fund The General Fund consists of the Educational Account, Tort Immunity & Judgment Account and Working Cash Account. In prior years, Tort and Working Cash were separate Special Revenue Funds. For fiscal year 2011, as per GASB 54, the three accounts have been combined into the General Fund. The General Fund is the chief operating fund of the District and accounts for the instructional and support costs for educating its students. As of June 30, 2011, the fund balance equaled $124,671,623. Property taxes decreased by $5,182,973 and interest on investments decreased by $1,210,624. State sources increased by $1,126,741 of which $232,084 was attributable to the increase in the TRS on-behalf contribution to $10,981,376. Overall, federal revenue increased by $909,120. Certain grants varied from the prior year. The increase for the IDEA (the Individuals with Disabilities Education Act) Room and Board grant was $945,263 for this year. Of this increase, $448,797 was attributed to the 2010 grant year that was paid late and thus, included in the fiscal year 2011 revenue. American Recovery and Reinvestment Act (ARRA) grants mostly ended in fiscal year 2010. ARRA General State Aid and ARRA Title I were reduced to zero from last year’s $258,431 and $250,203, respectively. ARRA IDEA Flow-Through grant decreased by $32,926 to $477,092. Additional ARRA funds were received this year for Education Jobs Fund Program in the amount of $146,677.
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Niles Township High School District 219 Management’s Discussion and Analysis For the Year Ended June 30, 2011 Total current year expenditures increased to $97,568,547 from $94,396,844 or by 3.36%. When factoring out the TRS on-behalf payment, the total expenditure increase equaled 3.51%. Staffing remained fairly consistent from fiscal year 2010 to 2011. Certified personnel, excluding administrators, decreased from 400.6 to 395.0 full-time equivalents (FTE). Total support staff decreased by seven FTE. Salary increases are reflected under the appropriate functions.
Special Revenue Funds Operations and Maintenance Fund The fund balance from fiscal year 2010 to 2011 decreased by $4,056,610 to $4,776,318. The general levy decreased by $746,094. Various increases and decreases in expenditures affected the fund balance increase as well. Purchased services and capital project expenditures may fluctuate greatly from year to year depending on the approved capital projects. The purchased services increased by $1,494,058 and capital outlay expenditures increased by $2,055,359. Overall, expenditures increased from the prior year by 28.69% or $3,787,934 to $16,989,738. Transportation Fund The fund balance increased by $1,454,401 from fiscal year 2010 to fiscal year 2011. Property taxes increased from $2,004,126 to $3,681,744 for the current year. State funding for special education transportation decreased by $417,602. Total fund expenditures were lower by $692,086 to $4,313,634. The primary cause for the expenditure decrease was related to the $437,250 settlement with the transportation carrier, Alltown, in fiscal year 2010. IMRF and Social Security Fund The fiscal year 2010 and 2011 fund balances were $3,374,416 and $2,025,041, respectively. Property tax revenue for fiscal year 2011 was $1,864,620 which was a decrease of $1,393,144 from the prior year. Benefits increased by $288,699 to $3,357,697. This expenditure increase is attributable to a general increase in salaries.
Debt Service Fund There were eight outstanding bond series as of June 30, 2011. Bond principal and interest payments were $17,845,000 and $5,568,295, respectively. The fund balance for fiscal year 2011 increased to $5,188,151 from the fiscal year 2010 balance of $2,594,282.
Capital Projects Funds Capital Projects Fund Debt certificates were issued this year to improve the District’s facilities in the amount of $12,770,000 and the proceeds were reported in this fund. There were no capital expenditures in fiscal year 2011. The only expenditures this year were the $106,800 in issuance costs for the debt certificates. Fire Prevention and Safety Fund The fiscal year 2011 fund balance decreased by $1,266,392 from the prior year fund balance of $3,538,767. Property taxes increased by $1,187,893. Purchased services increased by $54,557 and capital projects increased by $3,048,385. These expenditure categories can vary from year to year depending on the life safety projects that are completed.
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Niles Township High School District 219 Management’s Discussion and Analysis For the Year Ended June 30, 2011 Budgetary Highlights There were no amendments to the fiscal year 2011 budget. Therefore, the original budget is also the final budget.
General Fund The general levy was $1,470,938 lower than the budgeted amount of $89,419,480. The special education levy was higher than the budget by $2,738,312. Corporate personal property replacement taxes came in over budget by $1,080,123. Interest on investments was lower than expected and resulted in a $764,654 negative variance. General state aid was $452,405 more than budget. The special education private facility tuition grant and the special education personnel grant had favorable variances of $252,343 and $263,435, respectively. The special education extraordinary grant was higher than budget by $172,923. The special education room and board grant had a positive variance of $848,513. The ARRA flow through grant had a favorable variance of $477,092. Overall, total federal sources had a positive variance of $1,741,331, or 72.86%. Overall, expenditures had a positive variance of $5,345,990, or 5.19%. Total salaries and benefits were under budget by $1,764,165 and $825,015. Purchased services had a favorable variance of $990,660. Capital outlay had a positive variance of $1,050,216, mostly due to the timing difference of netbook purchases of $458,838 for the Anytime Anywhere Learning Plan.
Capital Asset and Debt Administration Capital Assets The historic cost, net of accumulated depreciation, of the District’s capital assets as of June 30, 2010 is shown below:
Table 4 Capital Assets (net of accumulated depreciation) Land Land improvements Buildings Equipment Transportation equipment Food service equipment Total
2011 $ 2,965,445 9,277,789 116,842,095 8,490,470 32,093 147,035 $ 137,754,927
-11-
2010 $ 2,548,773 8,775,211 114,107,700 8,704,868 46,927 164,059 $ 134,347,538
Percentage Change 16.3% 5.7% 2.4% -2.5% -31.6% -10.4% 2.5%
Niles Township High School District 219 Management’s Discussion and Analysis For the Year Ended June 30, 2011 As of June 30, 2011, the District had approximately $137,754,927 of capital assets. Land was purchased next to Niles North for the pool project. Equipment increases were mostly due to netbooks for students, STEM (science, technology, engineering, mathematics) equipment, computer hardware, and furniture. Depreciation expense charged to operations in fiscal year 2011 was $9,249,774. Additional detail is provided in Note E of the Notes to the Financial Statements and in schedules to the financial statements.
Long-Term Debt The following is a condensed summary of the District’s long-term debt outstanding as of June 30, 2011: Table 5 Outstanding Long-Term Debt Bonds Unamortized premium Compensated absences and employee & net pension obligations Total long-term debt
2011 $ 164,231,463 2,037,231 4,560,071 $ 170,828,765
2010 $ 134,102,964 2,253,465 2,508,467 $ 138,864,896
Percentage Change 22.5% -9.6% 81.8% 23.0%
General obligation bonds in the amount of $164,231,463 will be paid with specifically approved property tax levies accounted for in the Debt Service Fund. Other long-term debt obligations as of June 30, 2011 consist of employee early retirement obligations in the amount of $3,962,658. Other employee obligations include compensated absences and net pension obligations of $244,453 and $352,960, respectively. During fiscal year 2011, the District paid $23,413,295 for all scheduled principal and interest obligations related to its debt instruments. State statutes limit the amount of general obligation debt for the high school district to 6.9% of the equalized assessed valuation (EAV) of taxable properties within Niles Township. As of June 30, 2011, the available bonding debt capacity equaled $165,883,573. Our existing debt equaled 49.75% of the bond debt limit. Additional detail is provided in the Note F of the Notes to the Financial Statements and schedules to the financial statements.
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Niles Township High School District 219 Management’s Discussion and Analysis For the Year Ended June 30, 2011 Economic Factors and Next Year’s Budget The District is aware of the following items that could significantly affect its future financial position or results of operations:
On December 17, 2007, the Board of Education and two unions (Niles Township Federation of Teachers and Niles Township Support Staff) approved a three-year extension of the current contract. The existing contract expired in fiscal year 2009. The contract extension provides for labor peace through fiscal year 2012. Raises averaging 2.75% were added to the existing salary schedule increases. Employee contributions for health and prescription drug coverage will increase, but new wellness benefits will be provided. An on-site daycare center will be available at competitive marketplace rates. An additional day of instruction was added to the school calendars beginning in fiscal year 2010. The NTFT contract extension will include retirement language that preserves existing benefits but complies with state legislation regarding salary increase caps so that it is cost-neutral to the District. In fiscal year 2012, the District will begin negotiating two new union contracts effective for fiscal year 2013 and beyond.
On October 5, 2010, debt certificates of $16,000,000 were issued for capital improvements to be made in the District. Therefore, a portion of these proceeds will be used for facility improvements in the Capital Projects Fund in fiscal year 2012.
Pending state legislation would limit taxing districts that are in counties under the Property Tax Extension Limitation Law (PTELL) to zero revenue growth if property values are declining overall. The impact in one year could be $3 - $6 million in decreased property tax revenue for the District.
Legislative proposal to changes how the TRS pension system is funded. Instead of having the State continue to fund the TRS pension at the current level, local school districts would pay more of the normal cost of teacher pensions. This could increase District 219 expenditures by an additional $12,500,000 annually.
Requests for Information This financial report is designed to provide a general overview of the Niles Township High School District’s finances for all those with an interest in the government’s finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to Paul O’Malley, Assistant Superintendent for Business Services, or Susan Husselbee, Director of Fiscal Services, Niles Township High School District 219, 7700 Gross Point Road, Skokie, Illinois 60077.
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BASIC FINANCIAL STATEMENTS
Niles Township High School District 219 STATEMENT OF NET ASSETS - GOVERNMENTAL ACTIVITIES June 30, 2011
ASSETS Cash and investments Receivables (net of allowance for uncollectibles): Interest Property taxes Replacement taxes Accounts Intergovernmental Prepaid items Deferred charges Capital assets: Land Depreciable buildings, property, and equipment, net
$
156,525,802 218,090 59,387,702 597,595 60,237 3,412,285 384,616 28,036,353 2,965,445 134,789,482
Total assets
386,377,607
LIABILITIES Accounts payable Salaries and wages payable Other current liabilities Interest payable Unearned revenue Long-term liabilities: Due within one year Due after one year
4,907,314 287,191 42,177 578,769 58,287,992 3,555,596 167,273,169
Total liabilities
234,932,208
NET ASSETS Invested in capital assets, net of related debt
49,765,101
Restricted For: Debt service Student transportation Retirement benefits Capital projects Unrestricted
32,645,735 5,196,540 2,025,041 2,426,780 59,386,202
Total net assets
$
The accompanying notes are an integral part of this statement. -14-
151,445,399
Niles Township High School District 219 STATEMENT OF ACTIVITIES For the Year Ended June 30, 2011
Functions / Programs Governmental activities Instruction: Regular programs Special programs Other instructional programs State retirement contributions Support services: Pupils Instructional staff General administration School administration Business Transportation Operations and maintenance Central Other supporting services Community services Nonprogrammed charges excluding special education Interest and fees Total governmental activities
PROGRAM REVENUES Operating Charges for Grants and Services Contributions
Expenses
$
38,096,245 15,201,874 9,129,761 10,981,376
$
8,569,599 3,528,550 4,659,754 6,347,116 2,142,175 4,244,736 17,459,655 4,488,071 126,466 458,546
1,624,662 32,935 452,328 88,926 91,681 170,383 -
12,758 13,857,137 $ 139,303,819
$
719,738 5,435,410 513,733 10,981,376
2,460,915
$
4,475 100,751 34,206 1,906,079 50,449 -
$
Net (Expenses) Revenue and Changes in Net Assets
$
19,746,217
(117,096,687)
General revenues: Taxes: Real estate taxes, levied for general purposes Real estate taxes, levied for specific purposes Real estate taxes, levied for debt service Personal property replacement taxes State aid-formula grants Investment earnings Miscellaneous Total general revenues
86,133,878 23,318,742 6,969,874 4,855,123 1,616,196 2,818,977 101,227 125,814,017
Change in net assets
8,717,330
Net assets, beginning of year Net assets, end of year The accompanying notes are an integral part of this statement. -15-
(35,751,845) (9,733,529) (8,163,700) (8,565,124) (3,427,799) (4,659,754) (6,347,116) (2,019,043) (2,246,976) (17,238,823) (4,488,071) (126,466) (458,546) (12,758) (13,857,137)
142,728,069 $
151,445,399
Niles Township High School District 219 Governmental Funds BALANCE SHEET June 30, 2011 With Comparative Totals for June 30, 2010
General
Operations and Maintenance
Municipal Retirement / Soc. Sec.
Transportation
ASSETS Cash and investments Receivables (net of allowance for uncollectibles): Interest Property taxes Replacement taxes Accounts Intergovernmental Prepaid Items Total assets
$
123,022,824
$
183,528 47,642,115 597,595 53,228 2,431,324 365,194 $
6,262,323
$
13,038 4,885,229 7,005 1,744 18,333
4,851,041
$
6,591 1,776,660 979,217 -
2,019,284
5,753 4 -
174,295,808
$
11,187,672
$
7,613,509
$
2,534,920 281,401 42,177 46,765,687
$
1,612,682 3,312 4,795,360
$
670,515 2,478 1,743,976
$
2,025,041
LIABILITIES AND FUND BALANCES Accounts payable Salaries and wages payable Other current liabilities Deferred revenue
$
Total liabilities
-
49,624,185
6,411,354
2,416,969
-
365,194 5,977,397 118,329,032
18,333 4,757,985 -
5,196,540 -
2,025,041 -
124,671,623
4,776,318
5,196,540
2,025,041
Fund balances: Nonspendable Restricted Unassigned Total fund balance Total liabilities and fund balance
$
174,295,808
$
The accompanying notes are an integral part of this statement. -16-
11,187,672
$
7,613,509
$
2,025,041
Debt Service
$
5,117,215
Capital Projects
$
2,930 3,637,090 1,089
12,924,405
$
-
$
8,758,324
$
$
3,570,173
$
3,570,173
$
Fire Prevention and Safety
12,924,405
-
2,328,710
Total 2011
$
6,250 1,446,608 -
156,525,802
2010
$
218,090 59,387,702 597,595 60,237 3,412,285 384,616
127,556,377
218,090 54,303,102 560,460 256,652 2,931,233 449,387
$
3,781,568
$
220,586,327
$
186,275,301
$
89,197 1,419,996
$
4,907,314 287,191 42,177 58,295,192
$
5,035,735 162,963 25,905 53,556,970
-
1,509,193
63,531,874
58,781,573
1,089 5,187,062 -
12,924,405 -
2,272,375 -
384,616 38,340,805 118,329,032
449,387 29,148,123 97,896,218
5,188,151
12,924,405
2,272,375
157,054,453
127,493,728
8,758,324
$
12,924,405
$
3,781,568
-17-
$
220,586,327
$
186,275,301
Niles Township High School District 219 RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO THE STATEMENT OF NET ASSETS June 30, 2011
Total fund balances - governmental funds
$
157,054,453
Amounts reported for governmental activities in the statement of net assets are different because: Net capital assets used in governmental activities and included in the statement of net assets do not require the expenditure of financial resources and, therefore, are not reported in the governmental funds balance sheet.
137,754,927
Deferred charges included in the statement of net assets are not available to pay for current period expenditures and, accordingly, are not included in the governmental funds balance sheet.
28,036,353
Certain revenue receivables recognized in the statement of net assets do not provide current financial resources and are deferred in the governmental funds balance sheet.
7,200
Interest on long-term liabilities accrued in the statement of net assets will not be paid with current financial resources and, accordingly, are not included in the governmental funds balance sheet.
(578,769)
Long-term liabilities included in the statement of net assets are not due and payable in the current period and, accordingly, are not included in the governmental funds balance sheet.
(170,828,765)
Net assets - governmental activities
$
The accompanying notes are an integral part of this statement. -18-
151,445,399
Niles Township High School District 219 Governmental Funds STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES For the Year Ended June 30, 2011 With Comparative Actual Totals for the Year Ended June 30, 2010
General Revenues Property taxes Replacement taxes State aid Federal aid Interest Other
$
Total revenues
90,671,733 3,080,123 14,823,462 4,131,423 2,248,546 2,299,847
Operations and Maintenance $
117,255,134
Expenditures Current: Instruction: Regular programs Special programs Other instructional programs State retirement contributions Support services: Pupils Instructional staff General administration School administration Business Transportation Operations and maintenance Central Other supporting services Community services Nonprogrammed charges Debt service: Principal Interest and other Capital outlay
Excess (deficiency) of revenues over expenditures
Transportation $
12,506,968
34,073,666 13,177,811 8,758,305 10,981,376
Total expenditures
10,123,583 1,700,000 501,449 11,322 170,614
Municipal Retirement / Soc. Sec.
3,681,744 1,906,079 88,531 91,681
$
5,768,035
-
1,864,620 75,000 68,702 2,008,322
-
657,822 362,162 291,638 -
8,163,179 3,245,289 4,522,377 5,857,426 2,003,939 3,356,961 19,666 355,984 1,658,975
18,695 10,646,293 101,267 -
4,240,658 -
383,062 267,377 132,266 465,491 138,236 4,078 349,789 304,481 1,295 -
1,393,593
6,223,483
72,976
97,568,547
16,989,738
4,313,634
3,357,697
19,686,587
(4,482,770)
1,454,401
(1,349,375)
-
Other financing sources (uses) Transfers in Transfers (out) Bond proceeds Payments to escrow agent Sale of fixed assets
(426,160) -
426,160 -
-
-
Total other financing sources (uses)
(426,160)
426,160
-
-
Net change in fund balance Fund balance, beginning of year, as restated (Note O) Fund balance, end of year
$
19,260,427
(4,056,610)
1,454,401
(1,349,375)
105,411,196
8,832,928
3,742,139
3,374,416
124,671,623
The accompanying notes are an integral part of this statement. -19-
$
4,776,318
$
5,196,540
$
2,025,041
Debt Service $
Capital Projects
6,969,874 51,952 -
$
7,021,826
261,205 -
$
261,205
-
106,800 -
17,845,000 6,553,843 -
3,110,940 88,719 -
Total 2011 $
3,199,659
-
-
-
116,422,494 4,855,123 17,230,990 4,131,423 2,818,977 2,562,142
2010 $
119,836,010 3,743,872 16,910,224 3,222,303 4,306,302 2,956,326
148,021,149
150,975,037
-
34,731,488 13,539,973 9,049,943 10,981,376
33,136,930 12,690,191 8,339,244 10,749,292
94,835 -
8,564,936 3,512,666 4,654,643 6,322,917 2,142,175 4,244,736 11,090,917 3,661,442 126,466 458,546 1,658,975
7,994,179 3,300,327 5,018,037 5,631,897 4,242,185 5,017,634 9,345,494 3,493,383 17,108 233,318 1,964,516
4,371,216
17,845,000 6,553,843 12,061,268
1,095,000 4,671,567 13,952,744
151,201,310
130,893,046
24,398,843
106,800
4,466,051
(17,377,017)
154,405
(1,266,392)
65,456,830 (45,485,944) -
12,770,000 -
-
426,160 (426,160) 78,226,830 (45,485,944) -
19,970,886
12,770,000
-
32,740,886
60
2,593,869
12,924,405
(1,266,392)
29,560,725
20,082,051
3,538,767
127,493,728
107,411,677
2,594,282 $
Fire Prevention and Safety
5,188,151
$
12,924,405
$
2,272,375
(3,180,161)
$
157,054,453
-20-
20,081,991
775,507 (775,507) 60
$
127,493,728
Niles Township High School District 219 RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES For the Year Ended June 30, 2011
Amounts reported for governmental activities in the statement of activities are different because: Net change in fund balance - total governmental funds
$
Governmental funds report capital outlays as expenditures. However, in the statement of activities, the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense. This is the amount by which capital outlay exceeds depreciation expense in the current period.
29,560,725
3,407,389
Accrued interest reported in the statement of activities does not require the use of current financial resources and, therefore, is not reported as expenditures in the governmental funds.
(386,479)
The issuance of long-term debt (e.g. bonds, compensated absences, and employee obligations) provides current financial resources to governmental funds, while the repayment of the principal of long-term debt consumes the current financial resources of governmental funds.
(31,986,604)
Governmental funds report the effect of issuance costs, premiums, discounts, and similar items when the debt is issued. However, these amounts are deferred and amortized in the statement of activities. This is the amount of the current year, net effect of these differences.
8,122,299
Change in net assets - governmental activities
$
The accompanying notes are an integral part of this statement. -21-
8,717,330
Niles Township High School District 219 Agency Fund STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES June 30, 2011
Student Activity Fund ASSETS Cash and investments
$
956,416
$
956,416
LIABILITIES Due to student groups
The accompanying notes are an integral part of this statement. -22-
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements of Niles Township High School District 219 (the District) have been prepared in conformity with accounting principles generally accepted in the United States of America, as applied to government units (hereinafter referred to as generally accepted accounting principles (GAAP)). The governmental accounting standards board (GASB) is the standard-setting body for establishing governmental accounting and financial reporting principles. The more significant of the District's accounting policies are described below. 1. Reporting Entity The District is located in Cook County, Illinois. The District is governed by an elected Board of Education. The Board of Education maintains final responsibility for all personnel, budgetary, taxing, and debt matters. The District includes all funds of its operations that are controlled by or dependent upon the District as determined on a basis of financial accountability. Financial accountability includes appointment of the organization's governing body, imposition of will, and fiscal dependency. The accompanying financial statements include only those funds of the District, as there are no organizations for which it has financial accountability. Also, the District is not included as a component unit in any other governmental reporting entity, as defined by GASB pronouncements. 2. Fund Accounting The accounts of the District are organized on the basis of funds. A fund is an independent fiscal and accounting entity with a self-balancing set of accounts. Fund accounting segregates funds according to their intended purpose and is used to aid management in demonstrating compliance with finance-related and contractual provisions. The minimum number of funds is maintained consistent with legal and managerial requirements. Funds are classified into the following categories: governmental and agency. Governmental funds are used to account for all or most of the District's general activities, including the collection and disbursement of earmarked monies (special revenue funds), the servicing of general long-term debt (debt service funds), and the acquisition or construction of major capital facilities (capital projects fund). The General Fund is used to account for all activities of the general government not accounted for in some other fund. -23-
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 2. Fund Accounting (Continued) Agency funds are used to account for assets held on behalf of outside parties, including other governments, or on behalf of other funds within the District. 3. Government-Wide and Fund Financial Statements The government-wide financial statements (i.e., the statement of net assets and the statement of activities) report information on all the nonfiduciary activities of the District. The effect of interfund activity has been eliminated from these statements. Governmental activities normally are supported by taxes and intergovernmental revenues. The statement of activities demonstrates the degree to which the direct expenses of a given function are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function. Program revenues include (1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function and (2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function. Taxes and other items not properly included among program revenues are reported as general revenues instead. Separate financial statements are provided for governmental funds and agency funds, even though the latter are excluded from the government-wide financial statements. a. General Fund The General Fund includes the Educational Account, the Working Cash Account, and the Tort Immunity and Judgment Account. The Educational Account is the District's primary operating account. It accounts for all financial resources of the general government, except those required to be accounted for in another fund. The Working Cash Account is for the financial resources held by the District to be used as temporary interfund loans for working capital requirements to the Special Revenue Fund's Operations and Maintenance and Transportation Funds. Money loaned by the Working Cash Account to other funds must be repaid within one year. As allowed by the School Code of Illinois, this Account may be partially abated to any fund in need as long as the District maintains a balance in the Working Cash Account of at least .05% of the District's current equalized assessed valuation. The Tort Immunity and Judgment Account is used to account for revenues derived from a specific property levy and state reimbursement grants and expenditures of these monies is for risk management activities.
-24-
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 3. Government-Wide and Fund Financial Statements (Continued) b. Special Revenue Funds The special revenue funds are used to account for and report the proceeds of specific revenue sources (other than those accounted for in the Debt Service or Capital Projects funds) that are legally restricted to expenditures for specified purposes. Each of the District's special revenue funds has been established as a separate fund in accordance with the fund structure required by the state of Illinois for local educational agencies. These funds account for local property taxes restricted to specific purposes. A brief description of the District's special revenue funds is as follows: Operations and Maintenance Fund - is used for expenditures made for operations, repair, and maintenance of the District's buildings and land. Revenue consists primarily of local property taxes. Transportation Fund - accounts for all revenue and expenditures made for student transportation. Revenues are derived primarily from local property taxes and state reimbursement grants. Municipal Retirement/Social Security Fund - accounts for the District's portion of pension contributions to the Illinois Municipal Retirement Fund, payments to Medicare, and payments to the Social Security System for noncertified employees. Revenues to finance contributions are derived primarily from local property taxes and personal property replacement taxes. c. Debt Service Fund The Debt Service Fund - is used for the accumulation of resources for, and the payment of, general longterm debt principal, interest, and related costs. The primary revenue source is local property taxes levied specifically for debt service and transfers from other funds. d. Capital Projects Funds The Capital Projects Fund - accounts for financial resources to be used for the acquisition or construction of major capital facilities. The Fire Prevention and Safety Fund - accounts for state-approved life safety projects financed through serial bond issues or local property tax levies specifically for such purposes. -25-
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 3. Government-Wide and Fund Financial Statements (Continued) e. Agency Fund The Agency Fund accounts for assets held by the District in a trustee capacity or as an agent for individuals, private organizations, other governments, or other funds. The Student Activity Funds - are custodial in nature (assets equal liabilities) and do not involve measurement of the results of operations. These Funds account for assets held by the District which are owned, operated, and managed generally by the student body, under the guidance and direction of adults or a staff member, for educational, recreational, or cultural purposes. They account for activities such as student yearbook, student clubs and council, and scholarships. 4. Measurement Focus, Basis of Accounting, and Basis of Presentation The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the agency fund statements. Revenues and additions are recorded when earned, and expenses and deductions are recorded when a liability is incurred. Property taxes are recognized as revenues in the year for which they are levied (i.e. intended to finance). Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are considered to be available when they are collectible within the current period and soon enough thereafter to pay liabilities of the current period. The District considers property tax revenues and most other revenues to be available if they are collected within 60 days of the end of the current fiscal period. Revenues that are paid to the District by the Illinois State Board of Education are considered available if vouchered by year-end. Expenditures generally are recorded when a fund liability is incurred. However, debt service expenditures are recorded only when payment is due. Property taxes, interest, and intergovernmental revenues associated with the current fiscal period are all considered to be susceptible to accrual and are recognized as revenues of the current fiscal period. All other revenue items are considered to be measurable and available only when cash is received by the District. The District reports unearned revenue on its financial statements. Unearned revenue arises when a potential revenue does not meet both the "measurable" and "available" criteria for recognition in the current period. In subsequent periods, when both revenue recognition criteria are met, or when the District has a legal claim to the resources, the liability for unearned revenue is removed from the balance sheet and revenue is recognized. -26-
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 5. Deposits and Investments State statutes require the District to use the investment services of the Township School Treasurer and authorize the District's Treasurer to invest in obligations of the U.S. Treasury, certain highly rated commercial paper, corporate bonds, repurchase agreements, and money market mutual funds registered under the Investment Company Act of 1940, with certain restrictions. Investments are stated at fair value. Changes in the fair value of investments are recorded as investment income. 6. Capital Assets Capital assets, which include land, land improvements, buildings, equipment, transportation equipment, and food service equipment, are reported in the government-wide financial statements. Capital assets are defined by the District as assets with an initial individual or group cost of more than $5,000 and an estimated useful life in excess of one year. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. 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 assets' lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are constructed. Buildings and equipment are depreciated using the straight-line method over the following estimated useful lives: Assets
Years
Buildings Land improvements Transportation equipment Equipment and food service equipment
50 7 - 30 8 5 - 20
7. Prepaid Items Prepaid items, primarily insurance premiums and maintenance agreements, are recorded at cost and amortized over the terms of the underlying agreements. Reported prepaid expenditures are equally offset by fund balance reserves, which indicate that they do not constitute "available spendable resources" even though they are a component of current net assets. Prepaid expenditures are accounted for using the consumption method, that is, they are recognized as an expenditure as they are used.
-27-
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 8. Accumulated Unpaid Vacation and Sick Pay All administrators and teachers receive 15 sick days a year. All 12 month support staff who have less than 40 sick days accumulated will receive 13 days in the following fiscal year. All 12 month support staff who have between 40 and 80 sick days accumulated will receive 14 days in the following fiscal year. All 12 month support staff who have over 80 sick days accumulated will receive 15 days in the following fiscal year. All 10 month support staff who have less than 40 sick days accumulated will receive 10 1/2 days in the following fiscal year. All 10 month support staff who have between 40 and 80 sick days accumulated will receive 11 1/2 days in the following year. All 10 month support staff who have over 80 sick days accumulated will receive 12 1/2 days in the following fiscal year. Sick days accumulate without limit. No liability for unused sick leave has been reported within the financial statements. All administrators and teachers receive 2 personal days in each fiscal year. All support staff (10 month and 12 month) receive 3 personal days in each fiscal year. Any unused personal days will be converted to unused sick days for the next fiscal year. All employees receive 5 bereavement days. Any unused bereavement days are lost at the end of the fiscal year. Administrators who have unused bereavement days at fiscal year-end will have these days converted to sick days for the next fiscal year. All administrators will initially receive 20 days of vacation. Upon their 11th year of employment, all administrators will receive 25 days of vacation. All 12 month support staff receive vacation depending on their length of employment: Beginning with the 1st year Beginning with the 4th year Beginning with the 8th year Beginning with the 16th year
10 vacation days 15 vacation days 20 vacation days 25 vacation days
All employees eligible to earn vacation may carry over a maximum of 10 unused earned vacation days to the following fiscal year. Employees will lose any vacation days that exceed the 10 days being carried forward. Employees are compensated for unused earned vacation days at their current rate of pay upon termination of employment, but generally not for sick days.
-28-
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 9. Long-Term Obligations 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, are deferred and amortized over the life of the bonds using the effective interest method. Bonds payable are reported net of the applicable bond premium or discount. Bond issuance costs are reported as deferred charges and amortized over the term of the related debt. In the fund financial statements, governmental funds recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of 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. 10. Personal Property Replacement Taxes Personal property replacement tax revenues are first allocated to the Municipal Retirement/Social Security Fund with the balance allocated at the discretion of the District. 11. Restricted Net Assets For the government-wide financial statements, net assets are reported as restricted when constraints placed on net assets are either: (1) externally imposed by creditors (such as debt covenants), grantors, contributors, or laws or regulations of other governments, (2) imposed by law through constitutional provisions, or (3) imposed by enabling legislation. All of the District's restricted net assets were restricted as a result of enabling legislation. When both restricted and unrestricted resources are available for use, it is the District's policy to use restricted resources first, and then unrestricted resources, as they are needed.
-29-
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 12. Fund Balance The Governmental Accounting Standards Board (GASB) has issued Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions (GASB 54), which was adopted by the District for the fiscal year ended June 30, 2011. In the fund financial statements, governmental funds now report five components of fund balance: nonspendable, restricted, committed, assigned, and unassigned. a. Nonspendable - includes amounts that cannot be spent because they are either not in spendable form or legally or contractually required to be maintained intact. The nonspendable in form criteria includes items that are not expected to be converted to cash such as prepaid items. b. Restricted - refers to amounts that are subject to outside restrictions such as creditors, grantors, contributors, laws and regulations of other governments, or imposed by law through enabling legislation. Special revenue funds are by definition restricted for those specified purposes. c. Committed - refers to amounts that can only be used for specific purposes pursuant to constraints imposed by formal action of the District's highest level of decision making authority (the Board of Education). The Board of Education commits fund balances by passing a resolution. Amounts committed cannot be used for any purpose unless the District removes or changes the specific use by taking the same type of formal action it employed to previously commit those funds. d. Assigned - refers to amounts that are constrained by the District's intent to be used for a specific purpose, but are neither restricted or committed. Intent may be expressed by the Board of Education or the individual the Board of Education delegates the authority to assign amounts to be used for specific purposes. The Board of Education delegated this authority to the Assistant Superintendent for Business Services. e. Unassigned - refers to all spendable amounts not contained in the other four classifications described above. In funds other than the general fund, the unassigned classification is used only to report a deficit balance resulting from overspending for specific purposes for which amounts had been restricted, committed, or assigned. Unless specifically identified, expenditures act to reduce restricted balances first, then committed balances, next assigned balances, and finally they act to reduce unassigned balances. Expenditures for a specifically identified purpose will act to reduce the specific classification of fund balance that is identified. See Note I for additional detail on the components of the General Fund's fund balance at June 30, 2011. -30-
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 13. Use of Estimates In preparing financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. 14. Comparative Total Data Comparative total data for the prior year have been presented in the accompanying financial statements in order to provide an understanding of changes in the District's financial position and operations. NOTE B - RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS 1. Explanation of Certain Differences Between the Governmental Funds Balance Sheet and the Government-wide Statement of Net Assets The governmental funds balance sheet includes a reconciliation between fund balance – total governmental funds and net assets – governmental activities as reported in the government-wide statement of net assets. One element of that reconciliation explains that “Long-term liabilities included in the statement of net assets are not due and payable in the current period and, accordingly, are not reported in the governmental funds balance sheet.” The details of this difference are as follows: General obligation bonds Accreted interest Bond premiums Employee obligations Compensated absences Net pension obligation
$ (166,116,419) 1,884,956 (2,037,231) (3,962,658) (244,453) (352,960)
Net adjustment to reduce fund balance-total governmental funds to arrive at net assets – governmental activities
$ (170,828,765)
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Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE B - RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL STATEMENTS (Continued) 2. Explanation of Certain Differences Between the Governmental Fund Statement of Revenues, Expenditures, and Changes in Fund Balances and the Government-wide Statement of Activities The governmental funds statement of revenues, expenditures, and changes in fund balances includes a reconciliation between net changes in fund balances - total governmental funds and changes in net assets governmental activities as reported in the government-wide statement of activities. One element of that reconciliation explains that "Governmental funds report capital outlays as expenditures. However, in the statement of activities, the cost of those assets is allocated over their estimated useful lives and reported as depreciation expense." The details of this difference are as follows: Capital outlay Depreciation expense Net adjustment to decrease net change in fund balances - total governmental funds to arrive at change in net assets governmental activities
$
12,657,163 (9,249,774)
$
3,407,389
Another element of that reconciliation states that "The issuance of long-term debt (e.g. bonds, compensated absences, and employee obligations) provides current financial resources to governmental funds, while the repayment of the principal of long-term debt consumes the current financial resources of governmental funds." The details of this difference are as follows: Issuances of long-term debt Principal payments General obligation bonds Refunding of principal Employee obligations Compensated absences Net pension obligation
$
(78,205,000) 17,845,000 30,425,000 (1,720,384) 21,740 (352,960)
Net adjustment to decrease net change in fund balances – total governmental funds to arrive at change in net assets governmental activities
-32-
$
(31,986,604)
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE C - DEPOSITS AND INVESTMENTS At June 30, 2011, The District's cash and investments consisted of the following: Governmental Cash and investments
$ 156,525,802
Agency 956,416
Total $ 157,482,218
1. Cash and Investments Under the Custody of the Township Treasurer As explained in Note A, the Illinois Compiled Statutes require the District to utilize the investment services of the Township School Treasurer (the Treasurer). As such, the Treasurer is the lawful custodian of these school funds. The Treasurer is appointed by the Township Treasurer's Board of Trustees, an independently elected body, to serve the school districts in the township. The investment policies are established by the Niles Township School Trustees, as prescribed by the Illinois School Code and the Illinois Compiled Statutes. The Treasurer is the direct recipient of property taxes, replacement taxes, and most state and federal aid, and disburses school funds upon lawful order to the school board. The Treasurer invests excess funds at his discretion, subject to the legal restrictions discussed below. For these purposes, the Treasurer is permitted to combine monies from more than one fund of a single district and to combine monies of more than one district in the township. District cash and investments (other than the student activity and petty cash funds) are part of a common pool for all the school districts and cooperatives within the township. The Treasurer maintains records that segregate the cash and investment balances by district or cooperative. Income from investments is distributed based upon the District's percentage participation in the pool. Cash for all funds, including cash applicable to the Debt Service Fund and the Municipal Retirement/Social Security Fund, is not deemed available for purposes other than those for which these balances are intended. The Treasurer's office operates as a nonrated, external investment pool. The fair value of the District's investment in the Treasurer's pool is determined by the District's proportionate share of the fair value of the investments held by the Treasurer's office. The weighted-average maturity of all pooled marketable investments held by the Treasurer was 2.65 years at June 30, 2011. The Treasurer also holds money market type investments and deposits with financial institutions, including certificates of deposit. As of the same date, the fair value of all investments held by the Treasurer's office was $312,954,883 and the fair value of the District's proportionate share of the pool was $152,566,008.
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Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE C - DEPOSITS AND INVESTMENTS (Continued) 1. Cash and Investments Under the Custody of the Township Treasurer (Continued) Interest Rate Risk The District's investment policy, which is the same as the Treasurer's office, seeks to ensure preservation of capital in the District's overall portfolio. The highest return on investments is sought, consistent with the preservation of principal and prudent investment principles. The investment portfolio is required to provide sufficient liquidity to pay District obligations as they come due, considering maturity and marketability. The investment portfolio is also required to be diversified as to maturities and investments, as appropriate to the nature, purpose, and amount of funds. The District will also consider investments in local financial institutions, recognizing their contribution to the community's economic development. 2. Cash and Investments in the Custody of the District At June 30, 2011, the carrying value of the District's student activity funds was $956,416, all of which was deposited with financial institutions. The District also maintains $1,750 in petty cash. Custodial credit risk With respect to deposits, custodial credit risk is the risk that, in the event of a bank failure, the District's deposits may not be returned to it. At June 30, 2011, the bank balance of the District's deposits with financial institutions totaled $1,012,336, all of which was collateralized. NOTE D - PROPERTY TAXES RECEIVABLE The District must file its tax levy resolution by the last Tuesday in December of each year. The tax levy resolution was approved by the Board on December 13, 2010. The District's property tax is levied each year on all taxable real property located in the District, and becomes a lien on the property on January 1 of that year. The owner of real property on January 1 (the lien date) in any year is liable for taxes of that year. The Cook County Assessor is responsible for the assessment of all taxable property within Cook County except for certain railroad property, which is assessed directly by the state. One-third of the county is reassessed every year by the Assessor. The Illinois Department of Revenue has the statutory responsibility of ensuring uniformity of real property assessments throughout the state. Each year, the Illinois Department of Revenue furnishes the county clerks with an adjustment factor to equalize the level of assessment between counties at one-third of market value. This factor (the equalization factor) is then applied to the assessed valuation to compute the valuation of property to which the tax rate will be applied (the equalized assessed valuation). The equalization factor for Cook County was 3.3000 for 2010. -34-
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE D - PROPERTY TAXES RECEIVABLE (Continued) The County Clerk adds the equalized assessed valuation of all real property in the county to the valuation of property assessed directly by the state (to which the equalization factor is not applied) to arrive at the base amount (the assessment base) used to calculate the annual tax rates, as described above. The equalized assessed valuation for the extension of the 2010 tax levy was $4,784,275,890. Property taxes are collected by the Cook County Collector/Treasurer, who remits to the District its share of collections. Taxes levied in one year become due and payable in two installments on March 1 and approximately September 1 during the following year. The first installment is an estimated bill, and is fifty-five percent of the prior year's tax bill. The second installment is based on the current levy, assessment, and equalization, and any changes from the prior year will be reflected in the second installment bill. The portion of the 2010 property tax levy not received by June 30 is recorded as a receivable, net of estimated uncollectibles of 2%. The net receivable collected within the current year or due and expected to be collected soon enough thereafter to be used to pay liabilities of the current period, less the taxes collected soon enough after the end of the previous fiscal year, are recognized as revenue. Such time, thereafter, does not exceed 60 days. Net taxes receivable less the amount expected to be collected within 60 days is reflected as unearned revenue. NOTE E - CAPITAL ASSETS Capital asset activity for the year ended June 30, 2011 was as follows: Beginning Balance
Increases
Ending Balance
Decreases
Capital assets, not being depreciated Land $
2,548,773 $
416,672 $
-
Total capital assets, not being depreciated
2,548,773
416,672
-
190,560,742 13,503,238 20,802,086 393,278 401,235
9,721,622 1,081,975 1,430,472 6,422
89,640 34,960 -
200,192,724 14,550,253 22,232,558 393,278 407,657
Total capital assets, being depreciated 225,660,579
12,240,491
124,600
237,776,470
Capital assets, being depreciated Buildings Land improvements Equipment Transportation equipment Food service equipment
-35-
$
2,965,445
2,965,445
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE E - CAPITAL ASSETS (Continued) Beginning Balance
Increases
Decreases
Less accumulated depreciation for: Buildings $ Land improvements Equipment Transportation equipment Food service equipment
76,453,042 $ 4,728,027 12,097,218 346,351 237,176
6,987,227 $ 579,397 1,644,870 14,834 23,446
Total accumulated depreciation
93,861,814
9,249,774
Total capital assets, being depreciated, net 131,798,765
2,990,717
Governmental activities capital assets, net
$ 134,347,538
$
3,407,389
89,640 $ 34,960 124,600
$
-36-
$
1,408,655 7,841,119
$
9,249,774
83,350,629 5,272,464 13,742,088 361,185 260,622 102,986,988
-
134,789,482
-
$ 137,754,927
Depreciation expense was charged to functions/programs of the primary government as follows: Governmental activities General government Instruction Support services
Ending Balance
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE F - LONG-TERM LIABILITIES The following is the long-term liability activity for the District for the year ended June 30, 2011: Beginning Balance General Obligation bonds Unamortized premium
Compensated absences Employee obligations Net pension obligation Total long-term obligations
Ending Balance
Due Within One Year
Increases
Decreases
78,398,499 $ -
48,270,000 $ 164,231,463 $ 216,234 2,037,231
2,330,000 -
136,356,429
78,398,499
48,486,234
166,268,694
2,330,000
266,193 2,242,274 -
244,453 2,864,209 1,882,158
266,193 1,143,825 1,529,198
244,453 3,962,658 352,960
10,842 1,214,754 -
$ 134,102,964 $ 2,253,465
$ 138,864,896 $
83,389,319 $
51,425,450 $ 170,828,765 $
3,555,596
1. Bonds Payable The summary of activity in bonds payable for the year ended June 30, 2011 is as follows:
Bonds Payable July 1, 2010 $65,000,000 School Building Bonds Series 2000; due December 1, 2019; interest at 5.5% to 8%. $
21,995,000 $
$4,925,429 Capital Appreciation Bonds Series 2001; due December 1, 2020; interest at 5.75%.
3,317,964
$19,230,000 Refunding School Bonds Series 2004; due December 1, 2017; interest at 3.625% to 4%.
14,480,000
Debt Issued/ Accretion
-
193,499
-
Debt Retired/ Refunded
$
Bonds Payable June 30, 2011
710,000 $
21,285,000
-
3,511,463
2,380,000
12,100,000
(Continued) -37-
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE F - LONG-TERM LIABILITIES (Continued) 1. Bonds Payable (Continued) Bonds Payable July 1, 2010
Debt Issued/ Accretion
$47,280,000 Refunding School Bonds Series 2007A; due December 1, 2027; interest at 5%. $
47,280,000 $
-
$17,850,000 Refunding School Bonds Series 2007B; due December 1, 2023; interest at 5.375% to 6%.
17,850,000
-
$31,425,000 Refunding School Bonds Series 2007C; due December 1, 2027; interest at 3.75% to 4.65%.
29,180,000
-
Debt Retired/ Refunded
$
-
-
Bonds Payable June 30, 2011
$
47,280,000
17,850,000
29,180,000
-
16,000,000
-
$16,000,000 Taxable GO Debt Certificates issued October 5, 2010; refunded with proceeds from the $32,435,000 Taxable GO Refunding Bonds Series 2010A and the $9,745,000 GO School Bonds Series 2010B.
-
16,000,000
$32,435,000 Taxable GO Refunding Bonds Series 2010A; issued December 28, 2010; due December 1, 2028; interest at 2.3% to 7%.
-
32,435,000
-
32,435,000
$9,745,000 GO School Bonds Series 2010B; issued December 28, 2010; due December 1, 2030; interest at 4.875% to 5.125%.
-
9,745,000
-
9,745,000
$20,025,000 Taxable GO Refunding School Bonds Series 2010C; issued December 28, 2010; due December 1, 2026; interest at 1.35% to 6.5%.
-
20,025,000
-
20,025,000
Total bonds payable
$ 134,102,964 $ -38-
78,398,499 $
48,270,000 $ 164,231,463
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE F - LONG-TERM LIABILITIES (Continued) 1. Bonds Payable (Continued) The face amount of bonds payable at June 30, 2011 is as follows: Carrying Amount School building bonds Capital appreciation bonds Refunding school bonds
$
Face Amount
21,285,000 $ 21,285,000 3,511,463 6,190,000 139,435,000 139,435,000
$ 164,231,463 $ 166,910,000 At June 30, 2011, the District's future cash flow requirements for retirement of bond principal and interest were as follows: Year Ending June 30
Principal
2012 $ 2013 2014 2015 2016 2017 - 2021 2022 - 2026 2027 - 2031
2,330,000 $ 3,570,000 4,945,000 5,690,000 5,385,000 32,500,000 60,820,000 51,670,000
Total
$ 166,910,000 $
Interest 6,945,225 $ 3,509,711 3,478,284 3,438,468 5,814,134 29,684,043 24,182,235 4,608,316
Total 9,275,225 7,079,711 8,423,284 9,128,468 11,199,134 62,184,043 85,002,235 56,278,316
81,660,416 $ 248,570,416
These payments will be made from amounts budgeted from the debt service tax levies in future periods. There is $5,187,062 in the Debt Service Fund to service the outstanding bonds payable. As of June 30, 2011, the District was in compliance with all significant bond covenants.
-39-
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE F - LONG-TERM LIABILITIES (Continued) 1. Bonds Payable (Continued) During the fiscal year ended June 30, 2011, the District issued $16,000,000 of Taxable GO Debt Certificates. In December 2010 the District also issued $62,205,000 of Taxable GO Refunding Bonds Series 2010 A, B, & C. This bond series refunded the 2010 debt certificates and portions of the 2004, 2007A and 2007B Series, and all of the 2007C Series of outstanding bonds. The District refunded the debt to restructure under the limited tax debt service extension base. This transaction resulted in a theoretical economic loss (difference between the present value of the debt service payments on the old and new debt) of $15,060,944. In current and prior years, the District defeased certain General Obligation and other bonds by placing the proceeds of new bonds in an irrevocable trust to provide for all future debt service payments on the old bonds. Accordingly, the trust account assets and the liability for the defeased bonds are not included in the District's financial statements. At June 30, 2011, $97,300,008 of the bonds outstanding are considered defeased. The District is subject to the Illinois School Code, which limits the bond indebtedness to 6.9% of the most recent available equalized assessed valuation of the District. As of June 30, 2011, the statutory debt limit for the District was $330,115,036, of which $165,883,573 is fully available. 2. Compensated Absences At June 30, 2011 compensated absences amounted to $244,453. Future payments will be made from the same fund where the employee's salary is recorded. Historically, the expenditure is recorded in the Educational Account of the General Fund. 3. Early Retirement Obligations In addition to the Teachers' Retirement System ERO plan, the District offers its employees its own early retirement incentive plans. Under the District's plans, employees who retire and meet certain stipulations can earn a portion of their salary four years prior to retirement. Future obligations under these plans are: Year Ending June 30, 2012 $ 2013 2014 2015 2016 & Thereafter
Amount 1,214,754 1,122,717 604,371 593,356 427,460
Total
3,962,658
$
-40-
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE G - OPERATING LEASES The District leases nine copiers and various fitness equipment under noncancelable operating leases through December 2013. The terms of the leases require aggregate annual payments of $229,273. Total lease expense for the year ended June 30, 2011 was $229,273. At June 30, 2011, future minimum lease payments for the lease are as follows: Year Ending June 30, 2012 2013 2014
Total $
222,772 222,772 82,043
$
527,587
NOTE H - INTERFUND TRANSFERS The District transferred $426,160 to the Operations and Maintenance Fund from the General Fund. The amount transferred represents interest earned on investments in the Working Cash Account of the General Fund. NOTE I - FUND BALANCE REPORTING General Fund As defined in Note A-12, the District had the following components of fund balance in the General Fund at June 30, 2011: Nonspendable - prepaid items
$
365,194
Restricted for tort immunity
$
5,977,397
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Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE J - RETIREMENT FUND COMMITMENTS 1. Teachers' Retirement System of the State of Illinois The District participates in the Teachers’ Retirement System of the State of Illinois (TRS). TRS is a costsharing, multiple-employer defined benefit pension plan that was created by the Illinois legislature for the benefit of Illinois public school teachers employed outside the city of Chicago. The Illinois Pension Code outlines the benefit provisions of TRS, and amendments to the plan can be made only by legislative action, with the Governor’s approval. The state of Illinois maintains the primary responsibility for funding the plan, but contributions from participating employers and members are also required. The TRS Board of Trustees is responsible for the System’s administration. TRS members include all active nonannuitants who are employed by a TRS-covered employer to provide services for which teacher certification is required. The active member contribution rate for the year ended June 30, 2011 was 9.4 percent of creditable earnings. The same contribution rate applies to members whose first contributing service is on or after January 1, 2011, the effective date of the benefit changes contained in Public Act 96-0889. These contributions, which may be paid on behalf of employees by the employer, are submitted to TRS by the employer. The active member contribution rate was also 9.4 percent for the years ended June 30, 2010 and 2009. The state of Illinois makes contributions directly to TRS on behalf of the District's TRS-covered employees. On-behalf Contributions to TRS The state of Illinois makes employer pension contributions on behalf of the District. For the year ended June 30, 2011, state of Illinois contributions were based on 23.10 percent of creditable earnings not paid from federal funds, and the District recognized revenue and expenditures of $10,578,389 in pension contributions that the state of Illinois paid directly to TRS. For the years ended June 30, 2010 and June 30, 2009, the state of Illinois contribution rates as percentages of creditable earnings not paid from federal funds were 23.38 percent ($10,376,484) and 17.08 percent ($7,211,570), respectively. The District makes other types of employer contributions directly to TRS. 2.2 Formula Contributions Employers contribute 0.58 percent of total creditable earnings for the 2.2 formula change. This rate is specified by statute. Contributions for the year ended June 30, 2011 were $265,605. Contributions for the years ended June 30, 2010 and June 30, 2009, were $257,415 and $244,889, respectively. -42-
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE J - RETIREMENT FUND COMMITMENTS (Continued) 1. Teachers' Retirement System of the State of Illinois (Continued) Federal and Special Trust Fund Contributions When TRS members are paid from federal and special trust funds administered by the District, there is a statutory requirement for the District to pay an employer pension contribution from those funds. Under a policy adopted by the TRS Board of Trustees that was first effective for the fiscal year ended June 30, 2006, employer contributions for employees paid from federal and special trust funds will be the same as the state contribution rate to TRS. For the year ended June 30, 2011, the employer pension contribution was 23.10 percent of salaries paid from federal and special trust funds. For the years ended June 30, 2010 and 2009, the employer contribution was 23.38 and 17.08 percent, respectively, of salaries paid from federal and special trust funds. For the year ended June 30, 2011, salaries totaling $46,000 were paid from federal and special trust funds that required employer contributions of $10,626. For the years ended June 30, 2010 and June 30, 2009, required District contributions were $32,498 and $22,465, respectively. Early Retirement Option (ERO) The District is also required to make one-time employer contributions to TRS for members retiring under the Early Retirement Option (ERO). The payments vary depending on the age and salary of the member. The maximum employer ERO contribution is 117.5 percent and applies when the member is age 55 at retirement. For the year ended June 30, 2011, the District paid $206,672 to TRS for employer contributions under the ERO program. For the years ended June 30, 2010 and June 30, 2009, the District paid $254,670 and $512,722, respectively, in employer ERO contributions. Salary Increases Over 6 Percent and Excess Sick Leave If an employer grants salary increases over 6 percent and those salaries are used to calculate a retiree’s final average salary, the employer makes a contribution to TRS. The contribution will cover the difference in actuarial cost of the benefit based on actual salary increases and the benefit based on salary increases of up to 6 percent.
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Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE J - RETIREMENT FUND COMMITMENTS (Continued) 1. Teachers' Retirement System of the State of Illinois (Continued) Salary Increases Over 6 Percent and Excess Sick Leave (continued) For the year ended June 30, 2011, the District paid $56,634 to TRS for employer contributions due on salary increases in excess of 6 percent. For the years ended June 30, 2010 and June 30, 2009, the District paid $0 and $10,604, respectively, to TRS for employer contributions due on salary increases in excess of 6 percent. If an employer grants sick leave days in excess of the normal annual allotment and those days are used as TRS service credit, the employer makes a contribution to TRS. The contribution is based on the number of excess sick leave days used as service credit, the highest salary used to calculate final average salary, and the TRS total normal cost rate (18.03 percent of salary during the year ended June 30, 2011, as recertified pursuant to Public Act 96-1511). For the year ended June 30, 2011, the District paid $0 to TRS for sick leave days granted in excess of the normal annual allotment. For the years ended June 30, 2010 and June 30, 2009, the District paid $0 in employer contributions granted for sick leave days. Further Information on TRS TRS financial information, an explanation of TRS benefits, and descriptions of member, employer, and state funding requirements can be found in the TRS Comprehensive Annual Financial Report for the year ended June 30, 2010. The report for the year ended June 30, 2011 is expected to be available in late 2011 or early 2012. The reports may be obtained by writing to the Teachers’ Retirement System of the State of Illinois, 2815 West Washington Street, P.O. Box 19253, Springfield, Illinois 62794-9253. The most current report is also available on the TRS Web site at http://trs.illinois.gov. THIS Fund Employer Contributions The District participates in the Teacher Health Insurance Security (THIS) Fund, a cost-sharing, multipleemployer defined benefit postemployment healthcare plan that was established by the Illinois legislature for the benefit of Illinois public school teachers employed outside the city of Chicago. The THIS Fund provides medical, prescription, and behavioral health benefits, but it does not provide vision, dental, or life insurance benefits to annuitants of the Teachers’ Retirement System (TRS). Annuitants may participate in the stateadministered participating provider option plan or choose from several managed care options. -44-
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE J - RETIREMENT FUND COMMITMENTS (Continued) 1. Teachers' Retirement System of the State of Illinois (Continued) THIS Fund Employer Contributions (Continued) The State Employees Group Insurance Act of 1971 (5 ILCS 375) outlines the benefit provisions of the THIS Fund and amendments to the plan can be made only by legislative action, with the Governor’s approval. The Illinois Department of Healthcare and Family Services (HFS) and the Illinois Department of Central Management Services (CMS) administer the plan, with the cooperation of TRS. The Director of HFS determines the rates and premiums for annuitants and dependent beneficiaries and establishes the cost-sharing parameters. Section 6.6 of the State Employees Group Insurance Act of 1971 requires that all active contributors to the TRS who are not employees of the state make a contribution to the THIS Fund. The percentage of employer-required contributions in the future will be determined by the Director of HFS and will not exceed 105 percent of the percentage of salary actually required to be paid in the previous fiscal year. On-behalf Contributions to the THIS Fund The state of Illinois makes employer retiree health insurance contributions on behalf of the District. State contributions are intended to match contributions to the THIS Fund from active members, which were 0.88 percent of pay during the year ended June 30, 2011. State of Illinois contributions were $402,986, and the District recognized revenue and expenditures of this amount during the year. State contributions intended to match active member contributions during the years ended June 30, 2010 and June 30, 2009 were 0.84 percent of pay. State contributions on behalf of district employees were $372,808 and $354,667, respectively. Employer Contributions to the THIS Fund The District also makes contributions to the THIS Fund. The employer THIS Fund contribution was 0.66 percent during the year ended June 30, 2011 and 0.63 percent during the years ended June 30, 2010 and June 30, 2009. For the year ended June 30, 2011, the District paid $302,240 to the THIS Fund. For the years ended June 30, 2010 and June 30, 2009, the District paid $279,606 and $266,001, respectively, to the THIS Fund, which was 100 percent of the required contribution. Further Information on the THIS Fund The publicly available financial report of the THIS Fund may be obtained by writing to the Department of Healthcare and Family Services, 201 S. Grand Ave., Springfield, Illinois 62763-3838. -45-
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE J - RETIREMENT FUND COMMITMENTS (Continued) 2. Illinois Municipal Retirement Fund Plan Description The District's defined benefit pension plan for regular employees provides retirement and disability benefits, postretirement increases, and death benefits to plan members and beneficiaries. The District's plan is affiliated with the Illinois Municipal Retirement Fund (IMRF), an agent, multiple-employer plan. Benefit provisions are established by statute and may only be changed by the General Assembly of the State of Illinois. IMRF issues a publicly available financial report that includes financial statements and required supplementary information. That report may be obtained on-line at www.imrf.org. Funding Policy As set by state statute, the District's regular plan members are required to contribute 4.5 percent of their annual covered salary. The statute requires the District to contribute the amount necessary, in addition to member contributions, to finance the retirement coverage of its own employees. The District's contribution rate for calendar year 2010 was 10.3 percent of annual covered payroll. The District's annual required contribution rate for calendar year 2010 was 12.84 percent. The District also contributes for disability benefits, death benefits, and supplemental retirement benefits, all of which are pooled at the IMRF level. Contribution rates for disability and death benefits are set by the IMRF Board of Trustees, while the supplemental retirement benefits rate is set by state statute. Fiscal IMRF Pension Cost and Net IMRF Pension Obligation The District's annual IMRF pension cost is calculated based on the annual required contribution (ARC) of the District. The following table shows the components of the District's annual IMRF pension cost for the fiscal year, the amount actually contributed to the plan for the fiscal year, and changes in the District's net IMRF pension obligation as of June 30, 2011. June 30, 2011 Annual Required Contribution (ARC) Interest on net IMRF pension obligation Adjustment to annual required contribution Annual IMRF cost Contributions made
$
Increase in IMRF pension obligation Net IMRF pension obligation at July 1, 2010 Adjustment to IMRF pension obligation at June 30, 2011 Net IMRF pension obligation at June 30, 2011
169,318 183,642 $
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1,694,588 13,773 (9,845) 1,698,516 1,529,198
352,960
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE J - RETIREMENT FUND COMMITMENTS (Continued) 2. Illinois Municipal Retirement Fund (Continued) Annual Pension Cost For the calendar year ended December 31, 2010, the District's actual contributions for pension cost were $1,415,365. The District's required contribution for calendar year 2010 was $1,764,397. Trend Information Actuarial Valuation Date 12/31/10 $ 12/31/09 12/31/08
Annual Pension Cost (APC) 1,764,397 1,236,486 1,136,154
Percentage of APC Contributed 80% $ 100% 100%
Net Pension Obligation 349,032 * -
* Information above represents the net pension obligations as of December 31, 2010, the plan's year end. As of June 30, 2011 the net pension obligation was $352,960. The required contribution for 2010 was determined as part of the December 31, 2008 actuarial valuation using the entry age normal actuarial cost method. The actuarial assumptions at December 31, 2008 included (a) 7.5 percent investment rate of return (net of administrative and direct investment expenses), (b) projected salary increases of 4 percent a year, attributable to inflation, (c) additional projected salary increases ranging from 0.4 percent to 10 percent per year depending on age and service, attributable to seniority/merit, and (d) postretirement benefit increases of 3 percent annually. The actuarial value of the District's regular plan assets was determined using techniques that spread the effects of short-term volatility in the market value of investments over a five-year period with a 20 percent corridor between the actuarial value and market value of assets. The District's regular plan's unfunded actuarial accrued liability at December 31, 2008 is being amortized as a level percentage of projected payroll on an open 30 year basis. Funded Status and Funding Progress As of December 31, 2010, the most recent actuarial valuation date, the regular plan was 56.24 percent funded. The actuarial accrued liability for benefits was $29,070,810 and the actuarial value of assets was $16,350,502, resulting in an underfunded actuarial accrued liability (UAAL) of $12,720,308. The covered payroll for calendar year 2010 (annual payroll of active employees covered by the plan) was $13,741,412 and the ratio of the UAAL to the covered payroll was 93 percent.
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Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE J - RETIREMENT FUND COMMITMENTS (Continued) 2. Illinois Municipal Retirement Fund (Continued) Funded Status and Funding Progress (Continued) The schedule of funding progress, presented as Required Supplementary Information (RSI) following the notes to the financial statements, presents multiyear trend information about whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued liabilities for benefits. 3. Social Security/Medicare Employees not qualifying for coverage under the Illinois Teachers' Retirement System or the Illinois Municipal Retirement Fund are considered "nonparticipating employees". These employees and those qualifying for coverage under the Illinois Municipal Retirement Fund are covered under Social Security/Medicare. The District paid the total required contribution for the current fiscal year. NOTE K - OTHER POSTEMPLOYMENT BENEFITS Plan Description The District administers a single-employer defined benefit healthcare plan (“the Retiree Health Plan”). The plan provides the ability for IMRF retirees (TRS members are excluded as they are eligible to enroll in the state plan, the THIS Fund), spouses and dependents access to the District’s group health and dental insurance plans during retirement. If a retiree elects to leave the health or dental plan, they may not return to the plan in a future year. Retirees are responsible to contribute a premium toward the cost of their insurance. For 2011, a total of 10 former employees and beneficiaries accessed a postemployment benefit through the District. The plan does not issue a separate report. Funding Policy Retirees under the age of 65 contribute the full Consolidated Omnibus Budget Reconciliation Act (COBRA) equivalent rate. The medical and dental contributions required by the District are set by administration in consultation with the District’s broker. Retirees who are Medicare eligible may access a Medicare supplemental policy through the District. For fiscal year 2011, the District contributed $57,466 toward the cost of postemployment benefits for retirees, which fully funded the benefits.
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Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE K - OTHER POSTEMPLOYMENT BENEFITS (Continued) Annual OPEB Cost and Net OPEB Obligation The District's annual other postemployment benefit (OPEB) cost (expense) is calculated based on the annual required contribution of the employer (ARC), an amount actuarially determined in accordance with the parameters of GASB Statement 45. The ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each year and to amortize any unfunded actuarial liabilities (or funding excess) over a period not to exceed thirty years. The following table shows the components of the District's annual OPEB cost for the year, the amount actually contributed to the plan, and changes in the District's net OPEB obligation to the Retiree Health Plan: June 30, 2011 Annual required contribution Interest on net OPEB obligation Adjustment to annual required contribution Annual OPEB cost Contributions made Decrease in net OPEB obligation Net OPEB benefit beginning of year Net OPEB benefit end of year
$
$
55,209 (206) 137 55,140 (57,466) (2,326) (4,124) (6,450)
The District's annual OPEB cost, the percentage of annual OPEB cost contributed to the plan, and the net OPEB obligation for fiscal year 2011 and the two preceding fiscal years were as follows:
Actuarial Valuation Date 6/30/11 6/30/10* 6/30/09
Annual OPEB Cost $
55,140 55,209 57,578
* Estimated
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Percentage Annual OPEB Cost Contributed 104.2% 105.9% 101.5%
Net OPEB Benefit $
(6,450) (4,124) (878)
Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE K - OTHER POSTEMPLOYMENT BENEFITS (Continued) Funding Status and Funding Progress As of June 30, 2011, the date of the most recent actuarial valuation, the actuarial accrued liability for benefits was $700,342, all of which was unfunded. The covered payroll (annual payroll of active employees covered by the plan) and the ratio of the unfunded actuarial accrued liability to the covered payroll were not available. The projection of future benefit payments for an ongoing plan involved estimates of the value of reported amounts and assumptions about the probability of occurrence of events far into the future. Examples include assumptions about future employment, mortality, and the healthcare cost trend. Amounts determined regarding the funded status of the plan and the annual required contributions of the employer are subject to continual revision as actual results are compared with past expectations and new estimates are made about the future. The schedule of funding progress, presented as required supplementary information following the notes to the financial statements, presents multiyear trend information about whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued liabilities for benefits. Methods and Assumptions Projections of benefits for financial reporting purposes are based on the substantive plan (the plan understood by the employer and plan members) and include the types of benefits provided at the time of each valuation and the historical pattern of sharing of benefit costs between the employer and plan members to that point. The methods and assumptions used include techniques that are designed to reduce the effects of short-term volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long-term perspective of the calculations.
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Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE K - OTHER POSTEMPLOYMENT BENEFITS (Continued) Methods and Assumptions (Continued) The following simplifying assumptions were made: Contribution rates: District Plan members Actuarial valuation date Actuarial cost method Amortization period Remaining amortization period Asset valuation method
Not applicable 0.00% June 30, 2011 Entry age Level percentage of pay, open 30 years Market
Actuarial assumptions: Investment rate of return* Projected salary increases Healthcare inflation rate
5.00% 5.00% 8.00% initial 6.00% ultimate
Mortatility, Turnover, Disability, Retirement ages
Same rate utilized for IMRF
Percentage of active employees assumed to elect benefit
20%
Employer provided benefit
Explicit (eligible retired administrators): 100% of premium to age 65 Implicit (All): 40% of premium to age 65 (50% of $699/mo, + 50% of $1,431/mo).
*Includes inflation at 3.00%
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Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE L - RISK MANAGEMENT The District is exposed to various risks of loss related to torts, theft of, damage to, and destruction of assets, errors and omissions, injuries to employees, and natural disasters. The District purchases coverage against such risks. To protect the District from such risks, the District participates in the Collective Liability Insurance Cooperative (CLIC) public entity risk pool for property damage and injury claims. The arrangements with the pool provide that the pool will be self-sustaining through member premiums, and will reinsure through commercial companies for claims in excess of certain levels established by the pool. The District is self insured in the Workers' Compensation area, which is administered through Employer's Claim Service, Inc. Reinsurance coverage is provided for losses over $300,000. The District also provides health insurance through a self-insurance program with Blue Cross/Blue Shield as the third-party administrator. The stop-loss deductible is $150,000 per plan member. Claim liabilities of health and workers' compensation are included in accounts payable on the balance sheet. Balances of claims liabilities during the past two years are as follows:
Unpaid claims, beginning of fiscal year
$
Incurred claims (including claims incurred but not yet reported (IBNRs)) Claim payments and other
2011
2010
479,093 $
917,893
1,627,778 (1,775,965)
Unpaid claims, end of fiscal year
$
330,906 $
1,672,346 (2,111,146) 479,093
Unpaid claims at June 30, 2011 are expected to be paid in the next fiscal year. NOTE M - CONTINGENCIES 1. Litigation The District is a defendant in various lawsuits, and is subject to various ongoing property tax appeals and objections. Although the outcome of these matters is not presently determinable, the resolution of these matters, should the outcome be unfavorable, could result in a liability of up to $650,000, or more.
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Niles Township High School District 219 NOTES TO THE FINANCIAL STATEMENTS June 30, 2011
NOTE M - CONTINGENCIES (Continued) 2. Grants Amounts received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies, principally the federal government. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures which may be disallowed by the grantor cannot be determined at this time, although the District expects such amounts, if any, to be immaterial. NOTE N - COMMITMENTS The District has certain contracts for construction projects at June 30, 2011. Commitments under these contracts approximated $5,975,000. NOTE O - PRIOR PERIOD ADJUSTMENT The implementation of GASB 54 (Note A-12) required the restatement of the General Fund to include the Working Cash and Tort Immunity and Judgment funds. Prior to GASB 54, these two funds were reported as special revenue funds. As a result of this implementation the beginning fund balance of the General fund was restated by $30,917,265. NOTE P - SUBSEQUENT EVENTS Management has evaluated subsequent events through March 27, 2012, the date that these financial statements were available to be issued. Management has determined that no events or transactions have occurred subsequent to the balance sheet date that require disclosure in the financial statements.
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REQUIRED SUPPLEMENTARY INFORMATION (Unaudited)
Niles Township High School District 219 SCHEDULE OF FUNDING PROGRESS ILLINOIS MUNICIPAL RETIREMENT FUND June 30, 2011
Actuarial Valuation Date
(1) Actuarial Value of Assets
(2) Actuarial Accrued Liability (AAL)
12/31/10 $ 12/31/09 12/31/08
16,350,502 $ 16,662,702 15,836,287
29,070,810 28,142,282 26,160,685
(3) Funded Ratio (1) / (2)
(4) Unfunded AAL (UAAL) (2) - (1)
56.24 % $ 12,720,308 59.21 11,479,580 60.53 10,324,398
(5) Covered Payroll $ 13,741,412 13,210,317 12,623,935
(6) UAAL as a Percentage of Covered Payroll [(2)-(1)]/(5) 92.57 % 86.90 81.78
On a market value basis, the actuarial value of assets as of December 31, 2010 was $18,376,339. On a market basis. The funded ratio would be 63.21%.
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Niles Township High School District 219 SCHEDULE OF FUNDING PROGRESS OTHER POSTEMPLOYMENT BENEFITS June 30, 2011
Actuarial Valuation Date 06/30/11 $ 06/30/10 06/30/09
(2) Actuarial Accrued Liability (AAL) -Entry Age
(1) Actuarial Value of Assets NA -
$
700,342 NA 825,563
(3) Funded Ratio (1) / (2) 0.00 % $ NA 0.00
(4) Unfunded AAL (UAAL) (2) - (1) 700,342 NA 825,563
$
(5) Covered Payroll
(6) UAAL as a Percentage of Covered Payroll [(2)-(1)]/(5)
NA NA NA
NA NA NA
%
NA - not available Note: The District implemented GASB 45 in its year ended June 30, 2009. The District had actuarial valuations as of June 30, 2009 and June 30, 2011.
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Niles Township High School District 219 General Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget
2010 Actual
Revenues Local sources General levy $89,419,480 $ 87,948,542 Special education levy (15,121) 2,723,191 Corporate personal property replacement taxes 2,000,000 3,080,123 Regular tuition from pupils or parents 11,500 Summer school tuition from pupils or parents 464,000 377,114 CTE tuition from pupils or parents 4,100 3,323 Special Ed tuition from pupils or parents 3,000 5,025 Interest on investments 3,013,200 2,248,546 Admissions - athletic 23,000 16,716 Fees 78,250 123,015 Book store sales 31,000 36,549 Rentals - regular textbook 1,525,000 1,449,912 Sales - regular textbook 800 3,686 Contributions and donations from private sources 23,450 Services provided other Districts 51,000 27,910 Refund of prior years' expenditures 36,687 Drivers' education fees 64,000 55,175 Proceeds from vendors' contracts 70,000 88,926 24,000 40,859 Other Total local sources
$ (1,470,938) $ 93,347,807 2,738,312 2,506,899 1,080,123 11,500 (86,886) (777) 2,025 (764,654) (6,284) 44,765 5,549 (75,088) 2,886 23,450 (23,090) 36,687 (8,825) 18,926 16,859
668,872 466,065 4,300 7,000 3,459,170 17,538 84,479 33,678 1,539,620 893 24,628 77,399 2,746 67,259 87,415 175,938
96,755,709
98,300,249
1,544,540
102,571,706
712,791 116,000 488,800 824,000 36,800
1,165,196 368,343 661,723 1,087,435 174,578
452,405 252,343 172,923 263,435 137,778
459,435 327,746 647,144 1,063,935 97,450
State sources General State Aid Special Education - Private Facility Tuition Special Education - Extraordinary Special Education - Personnel Special Education - Orphanage - Individual
(Continued) -56-
Niles Township High School District 219 General Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget Special Education - Summer School Bilingual Ed. - Downstate - T.P.I. and T.P.E. State Free Lunch and Breakfast Driver Education School Safety and Educational Block Grant (Flat Grant) Other state sources On Behalf Payments to TRS from the State Total state sources
$
2,740 9,300 86,490
$
4,095 137,815 26,727 108,778
106,796 11,000,000
107,396 10,981,376
13,383,717
14,823,462
7,425 449,000 7,300 850,259 518,000 125,324 43,000 20,000 86,000
7,479 571,061 1,088 758,468 1,366,513 132,519 477,092 146,677 48,139 85,224
130,000
$
1,355 137,815 17,427 22,288 600 (18,624) 1,439,745
2010 Actual $
4,026 118,441 16,365 64,017 40,340 108,530 10,749,292 13,696,721
Federal sources Special Milk Program Title I - Low Income Safe and Drug Free Schools - Form. (Title IV) Fed. - Sp. Ed. - I.D.E.A. - Flow Through Fed. - Sp. Ed. - I.D.E.A. - Room and Board CTE. - Perkins - Title IIIE Technical Prep. ARRA General State Aid - Ed. Stabilization ARRA Title I - Low Income ARRA IDEA - Part B - Flow-Through ARRA General State Aid - Other Govt Svcs Stab. Other ARRA Funds - XI Emergency Immigrant Assistance Title III - English Language Acquisition Title II - Teacher Quality Medicaid Matching Funds Administrative Outreach Medicaid Matching Funds Fee-For-Service-Program Other federal sources Total federal sources Total revenues
54 122,061 (6,212) (91,791) 848,513 7,195 477,092 146,677 (43,000) 28,139 (776)
6,914 448,787 7,343 737,903 421,250 130,885 193,823 250,203 510,018 64,608 42,776 19,912 110,757
289,883
159,883
126,016
25,000 128,784
52,747 194,533
27,747 65,749
66,992 84,116
2,390,092
4,131,423
1,741,331
3,222,303
112,529,518
117,255,134
4,725,616
119,490,730 (Continued)
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Niles Township High School District 219 General Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget
2010 Actual
Expenditures Instruction Regular programs Salaries Employee benefits On-behalf payments to TRS from the state Purchased services Supplies and materials Capital outlay Other objects Termination benefits Total Special education programs Salaries Employee benefits Purchased services Supplies and materials Capital outlay Other objects Total
$26,708,394 6,466,005 11,000,000 621,470 1,226,316 543,037 2,665 -
$ 26,278,450 5,525,787 10,981,376 572,115 1,071,381 393,086 4,391 725
$
429,944 $ 25,086,616 940,218 5,175,518 18,624 10,749,292 49,355 516,855 154,935 1,055,425 149,951 544,866 (1,726) 2,184 (725) 4,732
46,567,887
44,827,311
1,740,576
43,135,488
8,333,003 1,000,333 271,385 128,585 61,475 39,000
7,477,127 2,139,743 246,151 74,252 58,439 17,411
855,876 (1,139,410) 25,234 54,333 3,036 21,589
7,272,439 1,881,084 210,761 73,993 65,994 19,167
9,833,781
10,013,123
(179,342)
9,523,438
(Continued) -58-
Niles Township High School District 219 General Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget Remedial and Supplemental programs K-12 Salaries Employee benefits Supplies and materials Total CTE programs Salaries Employee benefits Purchased services Supplies and materials Capital outlay Other objects Total Interscholastic programs Salaries Employee benefits Purchased services Supplies and materials Capital outlay Other objects Total Summer school programs Salaries Employee benefits Purchased services Supplies and materials Total
$
7,934 44,442 52,072
$
36,524 49,992
$
7,934 7,918 2,080 17,932
2010 Actual
$
116,174 47,736 38,723
104,448
86,516
202,633
2,529,592 423,108 54,353 144,919 130,432 5,200
2,551,692 310,287 59,172 207,548 55,522 5,022
(22,100) 112,821 (4,819) (62,629) 74,910 178
2,620,139 275,759 62,071 156,852 85,335 6,750
3,287,604
3,189,243
98,361
3,206,906
3,032,745 172,677 374,752 329,061 141,305 36,151
2,688,793 15,743 400,922 316,799 161,301 46,141
343,952 156,934 (26,170) 12,262 (19,996) (9,990)
2,465,260 15,302 342,279 300,587 78,657 42,118
4,086,691
3,629,699
456,992
3,244,203
483,744 96 9,615 22,800
490,694 4,338 9,609 23,797
(6,950) (4,242) 6 (997)
369,382 6,198 5,943 17,810
516,255
528,438
(12,183)
399,333 (Continued)
-59-
Niles Township High School District 219 General Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget Drivers education programs Salaries Employee benefits Purchased services Supplies and materials Total Bilingual programs Salaries Employee benefits Purchased services Supplies and materials Total Regular K-12 Programs - private tuition Other objects Spec. Ed. Programs K-12 - private tuition Other objects Total instruction
$
270,052 3,268 38,560 6,000
$
272,475 3,379 57,051 4,752
$
2010 Actual
(2,423) $ (111) (18,491) 1,248
256,639 3,105 26,770 4,233
(19,777)
290,747
317,880
337,657
1,243,803 169,990 1,300 5,600
1,227,878 57,311 172 4,730
15,925 112,679 1,128 870
1,059,414 49,657 800 6,895
1,420,693
1,290,091
130,602
1,116,766
635,000
620,817
14,183
624,440
3,405,040
3,136,611
268,429
2,715,961
70,175,279
67,659,506
2,515,773
64,459,915
(Continued) -60-
Niles Township High School District 219 General Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget
2010 Actual
Support services Pupils Attendance and social work services Salaries Employee benefits Purchased services Supplies and materials Capital outlay Other objects Total Guidance services Salaries Employee benefits Purchased services Supplies and materials Other objects Total Health services Salaries Employee benefits Purchased services Supplies and materials Capital outlay Total
$ 1,928,651 22,342 27,315 19,170 1,935
$ 2,100,142 1,083,205 17,142 12,095 1,517 1,079
$ (171,491) $ 1,731,652 (1,060,863) 941,992 10,173 12,190 7,075 13,130 (1,517) 856 -
1,999,413
3,215,180
(1,215,767)
2,698,964
3,660,311 32,311 65,245 29,386 2,605
3,373,486 41,948 21,721 21,878 1,468
286,825 (9,637) 43,524 7,508 1,137
3,501,667 42,923 41,974 26,463 2,847
3,789,858
3,460,501
329,357
3,615,874
415,708 2,014 2,700 9,380 -
443,246 2,482 2,766 6,401 750
(27,538) (468) (66) 2,979 (750)
241,764 69 3,275 6,744 750
429,802
455,645
(25,843)
252,602
(Continued) -61-
Niles Township High School District 219 General Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget Psychological services Salaries Employee benefits Purchased services Supplies and materials Total Speech pathology and audiology services Salaries Employee benefits Purchased services Supplies and materials Total Other support services - pupils Purchased services Supplies and materials Total Total pupils
$
605,749 6,168 24,400 7,490
$
540,100 86,892 38,169 995
$
2010 Actual
65,649 $ (80,724) (13,769) 6,495
632,796 77,873 14,477 8,709
643,807
666,156
(22,349)
733,855
432,895 3,803 12,000 1,500
314,322 9,148 -
118,573 (5,345) 12,000 1,500
302,920 8,287 -
450,198
323,470
126,728
311,207
39,000 10,300
34,961 9,533
4,039 767
33,222 10,252
49,300
44,494
4,806
43,474
7,362,378
8,165,446
(803,068)
7,655,976
(Continued) -62-
Niles Township High School District 219 General Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget
2010 Actual
Instructional staff Improvement of instruction services Salaries Employee benefits Purchased services Supplies and materials Capital outlay Other objects Termination benefits Total Educational media services Salaries Employee benefits Purchased services Supplies and materials Capital outlay Other objects Total
$ 1,715,868 3,511 271,431 46,095 101,500 -
$ 1,566,597 198,094 281,322 46,612 587 1,102 2,041
2,138,405
2,096,355
759,056 5,658 7,280 143,581 3,000 285
720,572 202,509 2,367 136,329 6,240 125
38,484 (196,851) 4,913 7,252 (3,240) 160
825,252 179,219 5,374 132,159 72,736 110
918,860
1,068,142
(149,282)
1,214,850
4,012
17,690 69,929
(17,690) (65,917)
-
4,012
87,619
(83,607)
385
3,061,277
3,252,116
(190,839)
3,140,871
Assessment and testing Purchased services Supplies and materials Total Total instructional staff
$
149,271 $ 1,423,342 (194,583) 173,386 (9,891) 275,520 (517) 30,383 (587) 100,398 23,005 (2,041) 42,050
1,925,636
385
(Continued) -63-
Niles Township High School District 219 General Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget
2010 Actual
General administration Board of education services Purchased services Supplies and materials Other objects Total Executive administration services Salaries Employee benefits Purchased services Supplies and materials Other objects Total Special area administrative services Salaries Employee benefits Purchased services Supplies and materials Capital outlay Other objects Total
$
34,000 12,500 25,000
$
11,966 6,654 20,936
$
22,034 5,846 4,064
$
16,737 8,058 21,165
71,500
39,556
31,944
45,960
332,682 146,316 13,000 14,000 3,300
362,158 142,596 9,811 9,785 2,972
(29,476) 3,720 3,189 4,215 328
345,152 146,532 8,921 10,531 1,983
509,298
527,322
(18,024)
513,119
655,438 10,572 10,325 6,377 2,475
653,394 69,408 16,918 4,668 2,078
2,044 (58,836) (6,593) 1,709 397
662,416 61,105 12,155 4,656 8,103 2,206
685,187
746,466
(61,279)
750,641
(Continued) -64-
Niles Township High School District 219 General Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget Tort immunity services Salaries Employee benefits Purchased services Supplies and materials Capital outlay Other objects Termination benefits Total Total general administration
$
500,464 473 3,378,779 37,827 21,000 180,965 -
$
487,295 485 2,696,147 24,927 32,623 179 -
$
2010 Actual
13,169 $ 498,521 (12) 460 682,632 2,986,984 12,900 28,121 (11,623) 26,845 180,786 80,498 2,855
4,119,508
3,241,656
877,852
3,624,284
5,385,493
4,555,000
830,493
4,934,004
861,629 24,491 27,600 109,441 7,300 -
813,945 164,915 23,712 98,827 5,232 21,290
47,684 (140,424) 3,888 10,614 2,068 (21,290)
900,796 144,665 19,228 103,533 5,439 -
1,030,461
1,127,921
(97,460)
1,173,661
3,556,297 44,197 100,586 48,804 75,060 17,067 -
3,952,078 618,708 80,437 57,291 75,078 12,254 8,737
(395,781) (574,511) 20,149 (8,487) (18) 4,813 (8,737)
3,329,338 544,579 87,309 71,295 60,699 12,960 2,589
3,842,011
4,804,583
(962,572)
4,108,769
4,872,472
5,932,504
(1,060,032)
5,282,430
Office of the principal services Salaries Employee benefits Purchased services Supplies and materials Other objects Termination benefits Total Other support services Salaries Employee benefits Purchased services Supplies and materials Capital outlay Other objects Termination benefits Total Total school administration
(Continued) -65-
Niles Township High School District 219 General Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget Business Direction of business support services Salaries Employee benefits Total Fiscal services Salaries Employee benefits Purchased services Supplies and materials Capital outlay Other objects Termination benefits Total Food services Purchased services Supplies and materials Capital outlay Total Total business
$
103,247 20,669
$
143,776 14,729
$
2010 Actual
(40,529) $ 5,940
142,465 13,692
123,916
158,505
(34,589)
156,157
682,801 491,000 24,500 356,000 4,000 -
651,111 181,826 518,213 21,997 11,947 3,514 14,572
31,690 (181,826) (27,213) 2,503 344,053 486 (14,572)
687,453 159,226 489,972 17,010 180,735 3,383 -
1,558,301
1,403,180
5,000 310,000 10,000
454,201 7,106
5,000 (144,201) 2,894
404,053 3,996
325,000
461,307
(136,307)
408,049
2,007,217
2,022,992
(15,775)
2,101,985
155,121
1,537,779
(Continued) -66-
Niles Township High School District 219 General Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget
2010 Actual
Central Information services Salaries Employee benefits Purchased services Supplies and materials Capital outlay Other objects Total Staff services Salaries Employee benefits Purchased services Supplies and materials Capital outlay Other objects Total Data processing services Salaries Employee benefits Purchased services Supplies and materials Capital outlay Other objects Termination benefits Total Total central
$
228,914 106,074 7,683 750
$
229,614 23,577 38,242 8,314 256
$
(700) $ (23,577) 67,832 (631) 494
218,305 20,643 84,935 6,205 5,421 610
343,421
300,003
550,037 3,410,835 287,500 21,000 2,500 3,000
587,754 235,324 273,311 26,253 9,205 1,556
4,274,872
1,133,403
1,286,032 2,292 405,000 286,700 1,100,000 1,000 -
1,204,992 41,822 355,928 305,612 580,192 901 23,505
81,040 (39,530) 49,072 (18,912) 519,808 99 (23,505)
1,208,323 36,885 374,073 320,046 1,382,568 889 2,642
3,081,024
2,512,952
568,072
3,325,426
7,699,317
3,946,358
3,752,959
4,607,502
43,418
336,119
(37,717) 3,175,511 14,189 (5,253) (6,705) 1,444
586,177 100,400 225,812 23,648 8,831 1,089
3,141,469
945,957
(Continued) -67-
Niles Township High School District 219 General Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget Other supporting services Purchased services Total Total support services Community services Salaries Employee benefits Purchased services Supplies and materials Other objects Total
$
116,711
$
19,666
$
97,045
2010 Actual
$
17,108
116,711
19,666
97,045
17,108
30,504,865
27,894,082
2,610,783
27,739,876
102,146 212,154 65,900 2,000
91,336 400 212,194 50,855 1,199
10,810 (400) (40) 15,045 801
23,055 201 170,167 37,514 1,600
382,200
355,984
26,216
232,537
55,000
12,758
42,242
41,487
55,000
12,758
42,242
41,487
1,597,193
1,646,217
(49,024)
1,443,029
1,597,193
1,646,217
(49,024)
1,443,029
-
-
1,652,193
1,658,975
Payments to other districts and other Gov'ts Payments for regular programs Other objects Total Payments for special education programs Other objects Total Payments for special education programs -tuition Other objects Total payments to other districts and other Gov'ts
-
(6,782)
480,000
1,964,516
(Continued) -68-
Niles Township High School District 219 General Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget $
Contingency Total expenditures Excess of revenues over expenditures
200,000
$
-
$
200,000
2010 Actual $
-
102,914,537
97,568,547
5,345,990
94,396,844
9,614,981
19,686,587
10,071,606
25,093,886
Other financing uses Permanent transfer from working cash fund - interest
-
(426,160)
(426,160)
(775,507)
Total other financing uses
-
(426,160)
(426,160)
(775,507)
Net change to fund balance
$ 9,614,981
Fund balance, beginning of year, as restated Fund balance, end of year
19,260,427
$ 9,645,446
24,318,379
105,411,196
81,092,817
$124,671,623
$105,411,196
(Concluded) -69-
Niles Township High School District 219 Operations and Maintenance Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget
2010 Actual
Revenues Local sources General levy Leasing levy Corporate personal property replacement taxes Interest on investments Admissions - athletic Fees Rentals Contributions and donations from private sources Refund of prior years' expenditures Proceeds from vendors' contracts Other Total local sources
$11,032,486 $10,123,583 (10,236) -
$ (908,903) $10,869,677 10,236 -
1,700,000 279,200 99,000 75,000
1,700,000 11,322 88,231 61,902
(267,878) (10,769) (13,098)
20,250 -
20,250 231
13,195,700
12,005,519
451,000 -
451,000 50,449
50,449
704,356 -
451,000
501,449
50,449
704,356
13,646,700
12,506,968
231 (1,190,181)
3,000,000 309,404 7,720 98,379 74,753 65,000 4,991 22,500 7,359 14,459,783
State sources General State Aid Other Total state sources Total revenues
(1,139,732)
15,164,139
(Continued) -70-
Niles Township High School District 219 Operations and Maintenance Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget
2010 Actual
Expenditures Support services Pupils Purchased services Supplies and materials
$
-
(15,695) $ (3,000)
15,400 3,000
18,695
(18,695)
18,400
1,992,521 998,973 4,432,929 2,184,650 9,026,813 1,930 -
1,952,390 947,721 5,653,429 2,091,633 6,223,483 1,120 -
40,131 51,252 (1,220,500) 93,017 2,803,330 810 -
1,939,980 818,849 4,260,935 1,990,236 4,168,124 1,066 4,214
18,637,816
16,869,776
1,768,040
13,183,404
Total business
18,637,816
16,869,776
1,768,040
13,183,404
Total support services
18,637,816
16,888,471
1,749,345
13,201,804
100,000
101,267
(1,267)
-
100,000
101,267
(1,267)
-
-
Total
$
15,695 3,000
$
Business Operation and maintenance of plant services Salaries Employee benefits Purchased services Supplies and materials Capital outlay Other objects Termination benefits Total
Community services Purchased services Total
100,000
Provision for contingencies Total expenditures Excess (deficiency) of revenues over expenditures
-
18,837,816
16,989,738
(5,191,116)
(4,482,770)
100,000
-
1,848,078
13,201,804
708,346
1,962,335 (Continued)
-71-
Niles Township High School District 219 Operations and Maintenance Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget
2010 Actual
Other financing sources Permanent transfer from working Cash fund - interest Sale or compensation for fixed assets
$
-
Total other financing sources Net change in fund balance
-
$ (5,191,116)
Fund balance, beginning of year Fund balance, end of year
$
426,160 426,160
$
426,160 -
$
60
426,160
60
(4,056,610) $ 1,134,506
1,962,395
8,832,928
6,870,533
$ 4,776,318
$ 8,832,928
(Concluded) -72-
Niles Township High School District 219 Transportation Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget
2010 Actual
Revenues Local sources General levy Regular transportation fees from pupils or parents Summer school transportation Fees from pupils or parents Interest on investments Total local sources
$ 2,184,402
$ 3,681,744
$ 1,497,342
$ 2,004,126
69,000
72,231
3,231
70,916
17,000 138,290
19,450 88,531
2,450 (49,759)
15,750 153,608
2,408,692
3,861,956
91,966 1,007,040
24,503 1,881,576
(67,463) 874,536
209,969 2,299,178
1,099,006
1,906,079
807,073
2,509,147
3,507,698
5,768,035
2,260,337
4,753,547
1,453,264
2,244,400
State sources Transportation - Regular/Vocational Transportation - Special Education Total state sources Total revenues
(Continued) -73-
Niles Township High School District 219 Transportation Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget
2010 Actual
Expenditures Support services Business Pupil transportation services Salaries Employee benefits Purchased services Supplies and materials Capital outlay Total
$
132,305 48,273 5,831,503 51,648 73,000
81,910 45,851 4,054,464 58,433 72,976
$
50,395 $ 131,384 2,422 41,184 1,777,039 4,341,159 (6,785) 54,743 24 -
6,136,729
4,313,634
1,823,095
-
-
-
437,250
-
-
-
437,250
6,136,729
4,313,634
1,823,095
Other support services Other objects Total Total support services
$
75,000
Provision for contingencies
-
75,000
4,568,470
5,005,720 -
6,211,729
4,313,634
1,898,095
(2,704,031)
1,454,401
4,158,432
(252,173)
Permanent transfer from working cash fund - interest
-
-
-
775,507
Total other financing sources
-
-
-
775,507
Total expenditures Excess (deficiency) of revenues over expenditures
5,005,720
Other financing sources
Net change in fund balance
$ (2,704,031)
Fund balance, beginning of year Fund balance, end of year
1,454,401
$ 4,158,432
523,334
3,742,139
3,218,805
$ 5,196,540
$ 3,742,139 (Concluded)
-74-
Niles Township High School District 219 Municipal Retirement / Social Security Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget
2010 Actual
Revenues Local sources General levy Social security/medicare only levy Corporate personal property Replacement taxes Interest on investments Total local sources Total revenues
$ 2,351,241 2,351,241
$
932,310 932,310
$ (1,418,931) $ 1,628,882 (1,418,931) 1,628,882
75,000 93,000
75,000 68,702
(24,298)
75,000 107,008
4,870,482
2,008,322
(2,862,160)
3,439,772
4,870,482
2,008,322
(2,862,160)
3,439,772
620,382 458,236 1,424 36,679 145,592 4,863 3,916 37,524
657,822 362,162 36,149 178,999 25,183 3,837 47,470
(37,440) 96,074 1,424 530 (33,407) (20,320) 79 (9,946)
671,160 312,845 1,308 37,204 154,246 15,960 3,625 34,246
1,308,616
1,311,622
(3,006)
1,230,594
Expenditures Instruction Regular programs Special education programs Remedial and supplemental programs K-12 Vocational educational programs Interscholastic programs Summer school programs Drivers education programs Bilingual programs Total instruction
(Continued) -75-
Niles Township High School District 219 Municipal Retirement / Social Security Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget
2010 Actual
Support services Pupils Attendance and social work services Guidance services Health services Psychological services Speech pathology and audiology services
$
Total pupils
116,762 184,323 45,312 14,735 2,838
$
142,165 178,797 47,931 11,421 2,748
$
(25,403) $ 5,526 (2,619) 3,314 90
248,204 15,872 40,970 12,838 2,669
363,970
383,062
(19,092)
320,553
191,221 45,551
215,052 52,325
(23,831) (6,774)
182,221 49,971
236,772
267,377
(30,605)
232,192
17,456 52,548 44,428
20,144 45,295 66,827
(2,688) 7,253 (22,399)
18,761 33,427 66,793
114,432
132,266
(17,834)
118,981
55,184 362,280
61,500 403,991
(6,316) (41,711)
70,222 339,944
417,464
465,491
(48,027)
410,166
Instructional staff Improvement of instruction services Educational media services Total instructional staff General administration Executive administration services Special area administrative services Risk Mgmt. & claims services payments Total general administration School administration Office of the principal services Other support services - school administration Total school administration
(Continued) -76-
Niles Township High School District 219 Municipal Retirement / Social Security Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget
2010 Actual
Business Direction of business support services Fiscal services Operation and maintenance of plant services Pupil transportation services
$
8,581 158,942 339,408 8,324
$
16,479 121,757 349,789 4,078
$
(7,898) $ 37,185 (10,381) 4,246
15,986 114,916 330,214 11,914
515,255
492,103
23,152
473,030
41,000 55,239 168,046
41,714 72,531 190,236
(714) (17,292) (22,190)
37,584 67,859 177,258
264,285
304,481
(40,196)
282,701
1,912,178
2,044,780
(132,602)
1,837,623
1,295
(1,295)
781
3,357,697
(136,903)
3,068,998
(1,349,375) $ (2,999,063)
370,774
Total business Central Information services Staff services Data processing services Total central Total support services
-
Community services Total expenditures
3,220,794
Excess (deficiency) of revenues over expenditures
$ 1,649,688
Fund balance, beginning of year Fund balance, end of year
3,374,416
3,003,642
$ 2,025,041
$ 3,374,416
(Concluded) -77-
Niles Township High School District 219 Notes to the Required Supplementary Information June 30, 2011
1. LEGAL COMPLIANCE AND ACCOUNTABILITY - BUDGETS Budgeted amounts for the governmental funds are adopted on a basis consistent with accounting principles generally accepted in the United States of America. The annual appropriated budget is legally enacted and provides for a legal level of control at the fund level. The Board of Education follows these procedures in establishing the budgetary data reflected in the financial statements: a) The Administration submits to the Board of Education a proposed operating budget for the fiscal year commencing July 1. The operating budget includes proposed expenditures and the means of financing them. b) Public hearings are conducted and the proposed budget is available for inspection to obtain comments. c) By September 30, the budget is legally adopted through passage of a resolution. By the last Tuesday in December each year, a tax levy resolution is filed with the County Clerk to obtain tax revenues. d) Management is authorized to transfer budget amounts, provided funds are transferred between the same function and object codes. The Board of Education is authorized to transfer up to a legal level of 10% of the total budget between functions within a fund; however, any revisions that alter the total expenditures of any fund must be approved by the Board of Education after the public hearing process mandated by law. e) Formal budgetary integration is employed as a management control device during the year for the governmental funds. f) The budget amounts shown in the financial statements are as originally adopted by the Board of Education on August 16, 2010. g) All budget appropriations lapse at the end of the fiscal year. 2. EXPENDITURES IN EXCESS OF BUDGETS The following funds had an excess of expenditures over budget at June 30, 2011: Variance
Fund Municipal Retirement/Social Security Debt Service Capital Projects Fire Prevention and Safety
$
-78-
136,903 17,921,371 106,800 1,663,272
OTHER SUPPLEMENTARY FINANCIAL INFORMATION
Niles Township High School District 219 General Fund COMBINING BALANCE SHEET June 30, 2011
Educational
Tort Immunity & Judgment
Working Cash
Total
ASSETS Cash and investments Receivables (net of allowance for uncollectibles): Interest Property taxes Replacement taxes Accounts Intergovernmental Prepaid Items Total assets
$
93,039,396
$
127,881 45,865,455 597,595 49,549 2,431,324 359,616 $ 142,470,816
6,342,564
$
13,195 1,776,660 3,679 5,578 $
8,141,676
$
$
410,139 4,586 1,743,976
$
23,640,864
$ 123,022,824
42,452 -
183,528 47,642,115 597,595 53,228 2,431,324 365,194
23,683,316
$ 174,295,808
LIABILITIES AND FUND BALANCES Accounts payable Salaries and wages payable Other current liabilities Deferred revenue Total liabilities
$
2,124,781 276,815 42,177 45,021,711
-
$
2,534,920 281,401 42,177 46,765,687
47,465,484
2,158,701
49,624,185
359,616 94,645,716
5,578 5,977,397 -
23,683,316
365,194 5,977,397 118,329,032
95,005,332
5,982,975
23,683,316
124,671,623
23,683,316
$ 174,295,808
Fund balances: Nonspendable Restricted Unassigned Total fund balance Total liabilities and fund balance
$ 142,470,816
$
-79-
8,141,676
$
Niles Township High School District 219 General Fund COMBINING SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE For the Year Ended June 30, 2011
Educational Revenues Property taxes Replacement taxes State aid Federal aid Interest Other
$
Total revenues
88,857,069 3,080,123 14,823,462 4,131,423 1,646,739 2,299,476
Tort Immunity & Judgment $
114,838,292
Expenditures Current: Instruction: Regular programs Special programs Other instructional programs State retirement contributions Support services: Pupils Instructional staff General administration School administration Business Central Other supporting services Community services Nonprogrammed charges Capital outlay
34,073,666 13,177,811 8,758,305 10,981,376
Total expenditures Excess (deficiency) of revenues over expenditures Other financing uses Transfers out
1,814,664 $ 117,814 371
483,993 -
1,932,849
483,993
-
$
90,671,733 3,080,123 14,823,462 4,131,423 2,248,546 2,299,847 117,255,134
-
34,073,666 13,177,811 8,758,305 10,981,376
3,209,033 32,623
-
8,163,179 3,245,289 4,522,377 5,857,426 2,003,939 3,356,961 19,666 355,984 1,658,975 1,393,593
94,326,891
3,241,656
-
97,568,547
20,511,401
(1,308,807)
-
(1,308,807)
Fund balance, beginning of year
74,493,931
7,291,782
95,005,332 -80-
483,993
-
20,511,401
$
Total
8,163,179 3,245,289 1,313,344 5,857,426 2,003,939 3,356,961 19,666 355,984 1,658,975 1,360,970
Net change in fund balance
Fund balance, end of year
Working Cash
$
5,982,975
(426,160)
$
19,686,587 (426,160)
57,833
19,260,427
23,625,483
105,411,196
23,683,316
$ 124,671,623
Niles Township High School District 219 Debt Service Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget
2010 Actual
Revenues Local sources General levy Interest on investments
$ 7,855,933 57,715
$ 6,969,874 51,952
7,913,648
7,021,826
(891,822)
5,991,342
7,913,648
7,021,826
(891,822)
5,991,342
4,628,350
5,568,295
(939,945)
4,670,163
4,628,350
5,568,295
(939,945)
4,670,163
1,846,122
17,845,000
(15,998,878)
1,095,000
3,000
985,548
(982,548)
1,404
3,000
985,548
(982,548)
1,404
6,477,472
24,398,843
(17,921,371)
5,766,567
Total expenditures
6,477,472
24,398,843
(17,921,371)
5,766,567
Excess (deficiency) of revenues over expenditures
1,436,176
(17,377,017)
(18,813,193)
224,775
Total local sources Total revenues
$
(886,059) $ 5,926,690 (5,763) 64,652
Expenditures Debt service Debt services - interest Bonds - interest Total debt service - interest Principal payments on long-term debt Other debt service Purchased services Total Total debt service
(Continued) -81-
Niles Township High School District 219 Debt Service Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget
2010 Actual
Other financing sources (uses) Principal on bonds sold Premium on bonds sold Payments to escrow agent
$
-
Total other financing sources (uses) Net change in fund balance
$ 1,436,176
Fund balance, beginning of year Fund balance, end of year
$ 65,435,000 $ 65,435,000 $ 21,830 21,830 (45,485,944) (45,485,944) 19,970,886
19,970,886
2,593,869
$ 1,157,693
224,775
2,594,282
2,369,507
$ 5,188,151
$ 2,594,282
(Concluded) -82-
Niles Township High School District 219 Capital Projects Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget
2010 Actual
Revenues Local sources Interest on investments
$
Total local sources Total revenues
-
$
261,205
$
261,205
$
109,087
-
261,205
261,205
109,087
-
261,205
261,205
109,087
Expenditures Support services Facilities acquisition and construction services Purchased services Supplies and materials Capital outlay Total Other support services Purchased services
-
-
-
2,139,987 14,152 5,936,253
-
-
-
8,090,392
-
106,800
(106,800)
-
-
106,800
(106,800)
-
Total support services
-
106,800
(106,800)
8,090,392
Total expenditures
-
106,800
(106,800)
8,090,392
-
154,405
154,405
(7,981,305)
-
12,770,000
12,770,000
-
-
12,770,000
12,770,000
-
-
12,924,405
$12,924,405
(7,981,305)
Total
Excess (deficiency) of revenues over expenditures Other financing sources (uses) Principal on bonds sold Total other financing sources (uses) Net change in fund balance
$
-
Fund balance, beginning of year
$12,924,405
Fund balance, end of year -83-
7,981,305 $
-
Niles Township High School District 219 Fire Prevention and Safety Fund SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL For the Year Ended June 30, 2011 With Comparative Actual Amounts for the Year Ended June 30, 2010 2011 Original and Variance Final From Budget Actual Final Budget
2010 Actual
Revenues Local sources General levy Interest on investments
$ 3,079,423 88,000
$ 3,110,940 88,719
31,517 719
$ 1,923,047 103,373
3,167,423
3,199,659
32,236
2,026,420
3,167,423
3,199,659
32,236
2,026,420
99,779 3,000 2,700,000
94,325 510 4,371,216
5,454 2,490 (1,671,216)
39,768 122 1,322,831
2,802,779
4,466,051
(1,663,272)
1,362,721
Total support services
2,802,779
4,466,051
(1,663,272)
1,362,721
Total expenditures
2,802,779
4,466,051
(1,663,272)
1,362,721
(1,266,392) $ (1,631,036)
663,699
Total local sources
Total revenues
$
Expenditures Support services Operations and maintenance of plant services Purchased services Supplies and materials Capital outlay Total
Excess (deficiency) of revenues over expenditures
$
Fund balance, beginning of year Fund balance, end of year
-84-
364,644
3,538,767
2,875,068
$ 2,272,375
$ 3,538,767
Niles Township High School District 219 STATEMENT OF CHANGES IN ASSETS AND LIABILITIES AGENCY FUND - STUDENT ACTIVITY FUNDS Year Ended June 30, 2011
Balance July 1, 2010 Assets Cash and cash equivalents Liabilities Due to student groups Central West North Total liabilities
Additions
Deletions
Balance June 30, 2011
$
849,570 $
2,827,706 $
2,720,860 $
956,416
$
111,685 $ 377,100 360,785
25,440 $ 1,721,713 1,080,553
21,104 $ 1,650,194 1,049,562
116,021 448,619 391,776
$
849,570 $
2,827,706 $
2,720,860 $
956,416
-85-
Niles Township High School District 219 GENERAL LONG-TERM DEBT SCHEDULE OF GENERAL OBLIGATION BONDS Year Ended June 30, 2011
Maturity as follows for the Year Ended June 30 School Building Bonds, dated April 1, 2000 (interest payable June 1 and December 1)
2012 2013 2014 2015 2016 2017 2018 2019 2020
Principal
Interest
Total
$
$ 4,110,000 3,340,000 3,425,000 5,205,000 5,205,000
$ 2,472 638 3,037 3,237 4,250
4,112,472 3,340,638 3,428,037 5,208,237 5,209,250
$
21,285,000 $
13,634 $
21,298,634
2020
$
6,190,000 $
2012 2013 2014 2015 2016 2017 2018
$
$
Total
Capital Appreciation Bonds, dated May 31, 2001
General Obligation Refunding School Bonds, dated December 1, 2004 (interest payable June 1 and December 1)
Total
-
$
6,190,000
1,255,000 $ 2,560,000 3,290,000 4,995,000
263 $ 4,725 1,925 -
1,255,263 2,564,725 3,291,925 4,995,000
12,100,000 $
6,913 $
12,106,913
(Continued) -86-
Niles Township High School District 219 GENERAL LONG-TERM DEBT SCHEDULE OF GENERAL OBLIGATION BONDS Year Ended June 30, 2011
Maturity as follows for the Year Ended June 30 General Obligation Refunding School Bonds, dated December 28, 2007 (interest payable June 1 and December 1)
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
Total General Obligation Refunding School Bonds, dated December 28, 2007 (interest payable June 1 and December 1)
Total
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Principal
Interest
Total
$
$ 5,610,000 9,020,000 9,470,000 11,160,000 12,020,000
2,364,000 $ 1,384,000 1,052,000 1,182,000 1,704,000 2,364,000 2,364,000 2,364,000 2,364,000 2,223,750 1,858,000 1,395,750 880,000 300,500
2,364,000 1,384,000 1,052,000 1,182,000 1,704,000 2,364,000 2,364,000 2,364,000 2,364,000 7,833,750 10,878,000 10,865,750 12,040,000 12,320,500
$
47,280,000 $
23,800,000 $
71,080,000
$
$ 965,000 935,000 6,430,000 6,815,000 2,705,000
1,059,125 $ 1,033,191 982,128 957,000 957,000 957,000 957,000 764,100 366,750 81,150
1,059,125 1,998,191 1,917,128 957,000 957,000 957,000 957,000 7,194,100 7,181,750 2,786,150
$
17,850,000 $
8,114,444 $
25,964,444 (Continued)
-87-
Niles Township High School District 219 GENERAL LONG-TERM DEBT SCHEDULE OF GENERAL OBLIGATION BONDS Year Ended June 30, 2011
Maturity as follows for the Year Ended June 30 General Obligation Refunding Bonds, dated December 28, 2010 (interest payable June 1 and December 1)
Total
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
Principal
Interest
Total
$
$ 625,000 530,000 235,000 210,000 965,000 2,050,000 2,155,000 3,145,000 4,520,000 4,815,000 6,135,000 7,050,000
2,094,655 $ 2,094,655 2,087,468 2,073,125 2,065,970 2,065,970 2,065,970 2,065,970 2,059,801 2,047,858 2,014,821 1,928,110 1,804,549 1,643,729 1,403,510 1,091,475 708,225 246,749
2,094,655 2,094,655 2,712,468 2,603,125 2,065,970 2,065,970 2,065,970 2,065,970 2,294,801 2,257,858 2,979,821 3,978,110 3,959,549 4,788,729 5,923,510 5,906,475 6,843,225 7,296,749
$
32,435,000 $
31,562,610 $
63,997,610
(Continued) -88-
Niles Township High School District 219 GENERAL LONG-TERM DEBT SCHEDULE OF GENERAL OBLIGATION BONDS Year Ended June 30, 2011
Maturity as follows for the Year Ended June 30 General Obligation School Bonds, dated December 28, 2010 (interest payable June 1 and December 1)
Total
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
Principal
Interest
Total
$
$ 1,145,000 1,995,000 2,095,000 2,200,000 2,310,000
488,706 $ 488,706 488,706 488,706 488,706 488,706 488,706 488,706 488,706 488,706 488,706 488,706 488,706 488,706 488,706 460,797 383,013 280,763 173,388 59,196
488,706 488,706 488,706 488,706 488,706 488,706 488,706 488,706 488,706 488,706 488,706 488,706 488,706 488,706 488,706 1,605,797 2,378,013 2,375,763 2,373,388 2,369,196
$
9,745,000 $
8,687,747 $
18,432,747
(Continued) -89-
Niles Township High School District 219 GENERAL LONG-TERM DEBT SCHEDULE OF GENERAL OBLIGATION BONDS Year Ended June 30, 2011
Maturity as follows for the Year Ended June 30 General Obligation Refunding Bonds, dated December 28, 2010 (interest payable June 1 and December 1)
Total
Total General Obligation Bonds Payable
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
Principal
Interest
Total
$
1,075,000 $ 1,010,000 1,030,000 1,050,000 1,080,000 1,115,000 1,160,000 1,215,000 1,270,000 1,340,000 1,415,000 1,490,000 1,580,000 1,675,000 1,775,000 745,000
938,476 $ 921,625 900,185 874,165 841,630 800,691 752,303 697,029 634,228 564,040 487,216 404,033 313,818 215,306 106,113 24,210
2,013,476 1,931,625 1,930,185 1,924,165 1,921,630 1,915,691 1,912,303 1,912,029 1,904,228 1,904,040 1,902,216 1,894,033 1,893,818 1,890,306 1,881,113 769,210
$
20,025,000 $
9,475,068 $
29,500,068
$
166,910,000 $
81,660,416 $
248,570,416
(Concluded) -90-
STATISTICAL SECTION (Unaudited)
Statistical Section This part of the District's comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, 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 changed over time.
92 - 103
Revenue Capacity These schedules contain information to help the reader assess the District's most significant local revenue source, the property tax.
104 - 109
Debt Capacity These schedules present information to help the reader assess the affordability of the District's current levels of outstanding debt and the District's ability to issue additional debt in the future.
110 - 115
Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the District's financial activities take place.
116 - 118
Operating Information These schedules contain information about the District's service and resources to help the reader understand how the District's financial information relates to the services the District provides and the activities it performs.
119 - 132
SOURCES: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial reports for the relevant year. The District implemented Statement 34 in 2003; schedules presenting government-wide information include information beginning in that year.
-91-
Niles Township High School District 219 NET ASSETS LAST NINE FISCAL YEARS
2011 Governmental Activities Invested in Capital Assets, Net of Related Debt Restricted Unrestricted Total governmental activities net assets
2010
2009
2008
$
49,765,101 42,294,096 59,386,202
$
43,461,211 30,822,466 68,444,392
$
43,317,206 32,302,463 40,266,280
$
43,766,332 44,057,986 12,363,411
$
151,445,399
$
142,728,069
$
115,885,949
$
100,187,729
Source of Information: Annual financial reports Note: The District implemented GASB 34 in its fiscal year ended June 30, 2003.
-92-
2007
2006
2005
2004
2003
$
48,853,367 19,530,227 10,859,471
$
50,966,036 15,170,554 4,303,021
$
53,333,594 27,900,039 (6,709,395)
$
59,058,248 26,914,419 (11,027,447)
$
64,746,370 29,096,744 (9,963,839)
$
79,243,065
$
70,439,611
$
74,524,238
$
74,945,220
$
83,879,275
-93-
Niles Township High School District 219 CHANGES IN NET ASSETS LAST NINE FISCAL YEARS
2011 Expenses Instruction Support services Community services Nonprogrammed charges* Interest and fees Total expenses
$
Program Revenues Charges for Services Instruction Support services Community services Operating Grants and Contributions Instruction Support services Community services Capital grants Support services Total program revenues Net Expense General Revenues Taxes: Real estate taxes, levied for general purposes Real estate taxes, levied for debt service Personal property replacement taxes Other local sources General state aid Accrued interest Investment earnings Total general revenues Change in Net Assets
$
2010
2009
2008
73,409,256 $ 51,566,122 458,546 12,758 13,857,137 139,303,819
67,564,458 $ 50,347,702 233,318 41,487 5,907,412 124,094,377
63,463,132 $ 48,232,890 31,983 48,283 6,104,404 117,880,692
2,109,925 350,990 -
2,221,072 238,818 -
2,225,033 374,837 -
2,389,879 327,651 44,660
17,650,257 2,095,960 -
15,975,517 2,799,396 -
12,191,462 2,439,102 -
10,062,272 2,217,188 -
22,207,132
21,234,803
17,230,434
15,041,650
(117,096,687)
(102,859,574)
(100,650,258)
(91,792,119)
109,452,620
113,909,320
103,138,703
96,646,766
6,969,874
5,926,690
3,420,757
6,045,204
4,855,123 101,227 1,616,196 2,818,977
3,743,872 457,896 1,357,614 4,306,302
4,627,823 214,891 1,319,287 3,627,017
5,290,329 87,392 1,257,935 3,409,157
125,814,017
129,701,694
116,348,478
112,736,783
8,717,330 $
26,842,120 $
15,698,220 $
Source of Information: Annual financial reports *Beginning in fiscal year 2006, Nonprogrammed charges exclude special education. -94-
55,549,540 45,224,783 32,159 60,544 5,966,743 106,833,769
20,944,664
2007 $
$
53,189,353 $ 39,349,355 3,443 18,544 5,916,417 98,477,112
2006 48,601,167 $ 39,624,927 37 32,370 6,195,382 94,453,883
2005
2004
45,294,055 $ 36,006,701 2,304,539 6,698,634 90,303,929
44,289,723 $ 34,682,458 17,216 1,323,312 5,037,907 85,350,616
2003 38,244,086 36,647,628 4,494 1,812,391 4,230,428 80,939,027
2,346,667 381,951 -
2,598,148 227,770 -
2,155,152 167,269 -
2,245,411 224,178 -
1,377,324 155,371 -
7,933,733 1,383,151 -
6,375,541 1,229,611 -
6,631,714 1,258,608 -
7,010,165 1,111,330 15,951
6,711,206 955,320 -
12,045,542
10,431,070
10,212,743
10,607,035
5,280,903 14,480,124
(86,431,570)
(84,022,813)
(80,091,186)
(74,743,581)
(66,458,903)
77,966,429
71,363,686
65,173,382
51,922,558
49,552,664
7,283,312
7,498,860
7,162,850
6,353,782
6,617,125
4,947,134 232,684 1,418,972 3,386,493
4,534,438 91,862 1,344,059 2,362,270
3,577,581 445,583 1,337,417 61,807 1,911,584
2,956,534 786,284 1,210,802 53,345 2,526,221
2,601,348 440,015 1,094,765 3,875,939
95,235,024
87,195,175
79,670,204
65,809,526
64,181,856
(8,934,055) $
(2,277,047)
8,803,454 $
3,172,362 $
(420,982) $
-95-
Niles Township High School District 219 FUND BALANCES - GOVERNMENTAL FUNDS LAST TEN FISCAL YEARS
2011** General Fund Reserved Unreserved Nonspendable Restricted Unassigned
2010**
2009
2008
$
$ 383,527 10,735,382 94,645,716
$ 448,652 15,899,254 74,270,735
210,839 $ 65,483,021 -
8,266,081 35,949,112 -
Total General Fund
$
105,764,625 $
90,618,641 $
65,693,860 $
44,215,193
All Other Governmental Funds Reserved Unreserved
$
1,089 $ 41,716,728
1,539 46,454,206
-
$
-
$
Nonspendable, reported in: *Special Revenue Funds Debt Service Fund
1,089
735
-
-
Restricted, reported in: *Special Revenue Funds Debt Service Fund Capital Projects Fund
30,904,897 5,187,062 15,196,780
30,742,038 2,593,547 3,538,767
-
-
51,289,828 $
36,875,087 $
Total All Other Governmental Funds $
41,717,817 $
46,455,745
*Note: GASB 34 was implemented in fiscal year 2003. With this implementation, the Working Cash Fund was reclassified from an Expendable Trust Fund (Fiduciary Fund Type) to a Special Revenue Fund (Governmental Fund Type). For comparison purposes, the Working Cash Fund is included in Special Revenue Funds for all fiscal years. **Note: GASB 54 was implemented in fiscal year 2011, which also required the restatement of 2010. With this implementation, the Working Cash Fund and Tort Immunity & Judgment Fund were combined with the General Fund, and governmental funds report five components of fund balance: nonspendable, restricted, committed, assigned, and unassigned. For comparison purposes, the Working Cash Account is included as a Special Revenue Fund. The General Fund includes the Educational Account, Tort Immunity & Judgment Account, and the Operations & Maintenance Fund. Source of Information: Annual financial reports
-96-
2007
2006
2005
2004
2003
2002
$
5,358,690 $ 20,718,060 -
3,414,086 $ 16,193,973 -
2,145,247 $ 13,422,874 -
1,882,570 $ 4,189,323 -
4,565,681 $ 7,744,820 -
6,951,587 6,588,861 -
$
26,076,750 $
19,608,059 $
15,568,121 $
6,071,893 $
12,310,501 $
13,540,448
$
1,260 $ 32,642,647
1,089 $ 28,897,616
(46,758) $ 27,141,516
(63,055) $ 32,672,316
(3,993,723) $ 35,661,165
86,904,267
$
-
-
-
-
-
-
-
-
-
-
-
-
32,643,907 $
28,898,705 $
27,094,758 $
-97-
32,609,261 $
31,667,442 $
86,904,267
Niles Township High School District 219 GOVERNMENTAL FUND REVENUES LAST TEN FISCAL YEARS
2011 Local Sources Taxes Earnings on investments Other local sources
2010
2009
2008
$ 121,277,617 $ 123,579,882 $ 111,187,283 $ 107,982,299 2,818,977 4,306,302 3,627,017 3,409,157 2,562,142 2,956,326 2,827,528 2,862,296
Total local sources
126,658,736
130,842,510
117,641,828
114,253,752
State and Federal Sources
10,381,037
9,383,235
8,325,047
7,944,536
137,039,773
140,225,745
125,966,875
122,198,288
TRS On-Behalf Receipt
10,981,376
10,749,292
7,566,237
5,580,145
Other Financing Sources
78,652,990
775,567
1,004,755
110,312,164
Total Direct Revenues
Total
$ 226,674,139 $ 151,750,604 $ 134,537,867 $ 238,090,597
Source of Information: Annual financial reports
-98-
2007
$
2006
2005
2004
2003
2002
90,196,875 $ 3,386,493 2,961,227
83,396,984 $ 2,362,270 2,916,330
75,913,813 $ 1,911,584 2,762,854
61,232,874 $ 2,526,221 3,255,873
58,771,137 $ 3,875,939 1,972,710
59,538,707 7,119,123 2,985,907
96,544,595
88,675,584
80,588,251
67,014,968
64,619,786
69,643,737
6,996,186
6,406,587
5,226,178
4,927,013
10,001,308
6,665,742
103,540,781
95,082,171
85,814,429
71,941,981
74,621,094
76,309,479
3,739,710
2,542,624
4,001,561
4,421,235
4,040,886
3,758,349
1,068,036
776,842
27,632,139
25,670,532
9,500,000
3,059,655
$ 108,348,527 $
98,401,637 $
117,448,129 $ 102,033,748 $
-99-
88,161,980 $
83,127,483
Niles Township High School District 219 GENERAL SCHOOL SYSTEM EXPENDITURES BY FUNCTION LAST TEN FISCAL YEARS
2011 Current Instruction Regular Programs Special Programs Interscholastic Programs Summer School
$
2010
2009
2008
28,547,879 $ 15,392,036 3,452,655 524,100
27,290,252 $ 14,647,781 3,150,244 393,135
26,221,007 $ 13,741,049 2,926,561 373,708
24,977,498 12,403,738 2,787,941 411,566
47,916,670
45,481,412
43,262,325
40,580,743
Supporting Services Instructional Operations and Maintenance Pupil Transportation Capital Projects Fire Prevention and Safety Employee Benefits
24,526,715 9,698,572 4,194,807 106,800 94,835 15,562,449
23,587,992 8,196,431 4,964,536 2,154,139 39,890 14,035,527
22,751,118 8,025,011 4,532,095 525,305 86,166 13,716,722
20,528,796 7,997,651 4,244,490 238,450 194,093 11,869,804
Total Supporting Services
54,184,178
52,978,515
49,636,417
45,073,284
102,100,848
98,459,927
92,898,742
85,654,027
17,845,000 6,553,843 1,658,975 12,061,268
1,095,000 4,671,567 1,964,516 13,952,744
1,150,000 4,713,661 1,352,329 9,111,404
5,010,000 5,847,445 1,380,593 5,104,898
38,119,086
21,683,827
16,327,394
17,342,936
140,219,934 10,981,376 45,912,104
120,143,754 10,749,292 775,507
109,226,136 7,566,237 1,004,755
102,996,963 5,580,145 97,563,208
Total Instruction
Total Current Other Debt Service Principal Interest and Other Charges Nonprogrammed Charges Capital Outlay Total Other Total Direct Expenditures TRS On-Behalf Payment Other Financing Uses Total
$
197,113,414 $
131,668,553 $
117,797,128 $
206,140,316
Net Change in Fund Balance
$
29,560,725 $
20,082,051 $
16,740,739 $
31,950,281
Debt Service as a Percentage of Noncapital Direct Expenditures
17.40%
Source of Information: Annual financial reports -100-
4.80%
5.37%
10.45%
2007
$
2006
2005
2004
2003
2002
23,547,545 $ 12,041,630 2,600,880 428,151
21,783,294 $ 12,039,174 2,368,983 334,821
20,005,114 $ 11,354,623 2,208,765 299,402
18,803,087 $ 11,185,564 2,111,380 235,041
17,818,025 $ 10,593,883 2,193,584 234,257
17,848,600 9,949,922 2,263,205 267,477
38,618,206
36,526,272
33,867,904
32,335,072
30,839,749
30,329,204
18,619,291 7,294,035 4,041,865 91,619 10,339,531
17,489,553 7,161,148 3,335,138 59,733 10,769,417
15,994,910 6,237,467 2,962,206 88,256 9,694,469
14,713,001 5,910,247 3,215,922 898,352 10,357,303
16,063,035 5,530,370 2,958,023 3,198,169 143,442 9,872,744
15,784,856 5,391,530 2,811,653 9,492,242 5,500 9,268,606
40,386,341
38,814,989
34,977,308
35,094,825
37,765,783
42,754,387
79,004,547
75,341,261
68,845,212
67,429,897
68,605,532
73,083,591
4,920,000 4,412,069 1,412,310 3,578,037
3,989,033 5,195,631 1,586,607 3,127,204
3,294,138 5,376,741 2,304,539 2,188,438
2,345,066 5,037,907 1,323,312 24,170,633
2,253,621 4,230,428 1,812,391 54,185,894
2,900,000 1,280,817 1,393,228 25,944,456
14,322,416
13,898,475
13,163,856
32,876,918
62,482,334
31,518,501
93,326,963 3,739,710 1,067,961
89,239,736 2,542,624 775,392
82,009,068 4,001,561 27,455,775
100,306,815 4,421,235 2,602,487
131,087,866 4,040,886 9,500,000
104,602,092 3,758,349 3,053,797
$
98,134,634 $
92,557,752 $
113,466,404 $
107,330,537 $
144,628,752 $
111,414,238
$
10,213,893 $
5,843,885 $
3,981,725 $
(5,296,789) $
(56,466,772) $
(28,286,755)
11.94%
12.19%
9.95%
-101-
10.74%
9.21%
5.61%
Niles Township High School District 219 GOVERNMENT-WIDE REVENUES LAST NINE FISCAL YEARS
2011 Program Revenue Charges for services Operating grants Capital grants
$
General Revenues Taxes Investment income Miscellaneous Total Revenues
3,052,852 18,989,929 -
2010
$
121,277,617 2,818,977 1,881,774 $
148,021,149
2,459,890 18,774,913 -
2009
$
123,579,882 4,306,302 1,815,510 $
150,936,497
Source of information: Audited Financial Statements
-102-
2,474,867 14,571,997 -
2008
$
111,187,283 3,627,017 1,717,748 $
133,578,912
2,762,190 12,279,460 -
107,982,299 3,409,157 1,345,327 $
127,778,433
2007
$
2,728,618 9,316,924 -
2006
$
90,196,875 3,386,493 1,671,556 $
107,300,466
2,825,918 7,605,152 -
2005
$
83,396,984 2,362,270 1,435,921 $
97,626,245
2,322,421 7,890,322 -
2004
$
75,913,813 1,973,391 1,783,000 $
89,882,947
-103-
2,469,589 8,137,446 -
2003
$
61,232,874 2,579,566 1,997,086 $
76,416,561
1,532,695 8,761,291 5,280,903
58,771,137 3,875,939 440,015 $
78,661,980
Niles Township High School District 219 PROPERTY TAX RATES - LEVIES AND COLLECTIONS LAST TEN TAX LEVY YEARS
2010 Rates Extended Educational Special Education Tort Immunity Operations and Maintenance Leasing Educational Facilities Transportation Municipal Retirement Social Security Working Cash Debt Service Fire Prevention and Safety Total rates extended Levies Extended Educational Special Education Tort Immunity Operations and Maintenance Leasing Educational Facilities Transportation Municipal Retirement Social Security Working Cash Debt Service Fire Prevention and Safety Total levies extended Collections on levies extended Current Year Collections Subsequent Collections Total Collections
2009
1.8455 0.1139 0.0759 0.2087 0.0759 0.1554 0.0618 2.5371
$
$
$ $
Percentage of levy extensions collected Current Year Collections Subsequent Collections Total % of extensions collected
1.7078 0.2087 0.0759 0.0379 0.0379 0.1323 0.0664 2.2669
2008 1.5882 0.0886 0.0734 0.1894 0.0222 0.0222 0.0438 0.0860 0.0060 2.1198
2007 1.5095 0.0843 0.0697 0.1800 0.0632 0.0603 0.0211 0.0211 0.0423 0.0517 0.0101 2.1133
88,293,811 $ 5,449,290 3,631,265 9,984,783 3,631,265 7,434,256 2,956,682 121,381,352 $
88,081,188 $ 10,763,874 3,914,604 1,954,723 1,954,723 6,820,540 3,424,634 116,914,286 $
85,368,837 $ 4,762,422 3,945,392 10,180,618 1,193,293 1,193,293 2,354,335 4,618,103 322,511 113,938,804 $
76,014,000 4,243,600 3,512,300 9,064,000 3,182,700 3,038,500 1,060,900 1,060,900 2,129,029 2,599,863 507,718 106,413,510
60,658,533 $ 60,658,533 $
59,106,557 $ 55,947,552 115,054,109 $
50,533,172 $ 61,431,740 111,964,912 $
36,764,822 67,048,512 103,813,334
49.97% 49.97%
50.56% 47.85% 98.41%
44.35% 53.92% 98.27%
Note: Tax Rates are expressed in dollars per $100 of assessed valuation. Source of information: Cook County - Agency Tax Rate Reports, Annual Financial Reports, and Niles Township Treasurer - Property Tax Levy Report -104-
34.55% 63.01% 97.56%
2006
$
$
$ $
2005
2004
2003
2002
2001
1.3225 0.0991 0.1734 0.3220 0.0328 0.0823 0.0248 0.0248 0.0500 0.1853 0.0570 2.3740
1.2079 0.0191 0.0865 0.2520 0.0479 0.1131 0.0471 0.1847 0.0479 2.0062
1.2876 0.0174 0.1343 0.2174 0.0435 0.0287 0.0215 0.0215 0.0435 0.1969 2.0123
1.3861 0.0200 0.0466 0.2500 0.1200 0.0032 0.0032 0.0500 0.2107 2.0898
1.2052 0.0188 0.0066 0.2180 0.0598 0.0031 0.0031 0.0470 0.2078 0.0062 1.7756
55,002,000 $ 4,120,000 7,210,000 13,390,000 1,364,013 3,424,012 1,030,000 1,030,000 2,079,503 7,706,457 2,369,000 98,724,985 $
50,359,570 $ 798,250 3,605,000 10,506,000 1,998,200 4,717,116 1,965,465 7,702,415 1,998,200 83,650,216 $
49,365,921 $ 666,908 5,150,000 8,336,351 1,667,270 1,100,000 824,000 824,000 1,667,270 7,551,939 77,153,659 $
45,923,097 $ 662,623 1,545,000 8,282,789 3,975,739 106,090 106,090 1,656,558 6,981,422 69,239,408 $
40,476,205 $ 631,876 222,134 7,321,885 2,008,064 103,000 103,000 1,579,691 6,979,971 208,241 59,634,067 $
36,179,351 556,991 1,146,725 6,962,388 3,341,946 164,800 164,800 1,392,478 6,840,538 1,392,478 58,142,495
40,334,831 $ 56,349,392 96,684,223 $
37,640,908 $ 43,979,053 81,619,961 $
33,358,972 $ 42,850,113 76,209,085 $
28,623,149 $ 40,128,775 68,751,924 $
28,298,078 $ 30,066,276 58,364,354 $
27,535,778 29,454,011 56,989,789
40.86% 57.08% 97.93%
45.00% 52.57% 97.57%
43.24% 55.54% 98.78%
-105-
41.34% 57.96% 99.30%
47.45% 50.42% 97.87%
1.1569 0.0178 0.0367 0.2226 0.1069 0.0053 0.0053 0.0445 0.2188 0.0445 1.8593
47.36% 50.66% 98.02%
Niles Township High School District 219 EQUALIZED ASSESSED VALUATION AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY LAST TEN LEVY YEARS
Tax Levy Year
Equalized Assessed Valuation
2010 2009 2008 2007 2006 2005 2004 2003 2002 2001
$ 4,784,275,890 $ 5,157,582,183 5,375,194,371 5,035,682,949 4,159,005,554 4,169,080,210 3,833,886,423 3,313,115,674 3,358,441,838 3,127,265,864
Amount of Increase (Decrease) Over Previous Year (373,306,293) (217,612,188) 339,511,422 876,677,395 (10,074,656) 335,193,787 520,770,749 (45,326,164) 231,175,974 387,694,055
Percentage Increase (Decrease) Over Previous Year
Total Direct Rate
-7.24% -4.05% 6.74% 21.08% -0.24% 8.74% 15.72% -1.35% 7.39% 14.15%
2.537 2.267 2.120 2.114 2.374 2.007 2.013 2.090 1.776 1.859
Source of information: Cook County Levy, Rate, and Extension Reports for 2001 to 2010. Note: See the breakdown by category for the Equalized Assessed Valuation on pg. 108.
-106-
Actual Estimated Value $
14,352,827,670 15,472,746,549 16,125,583,113 15,107,048,847 12,477,016,662 12,507,240,630 11,501,659,269 9,939,347,022 10,075,325,514 9,381,797,592
Niles Township High School District 219 PROPERTY TAX RATES - DIRECT AND OVERLAPPING GOVERNMENTS* LAST TEN TAX LEVY YEARS
Taxing District
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
Overlapping County of Cook Cook County Forest Preserve District Metropolitan Water Reclamation District Suburban Tuberculosis Sanitarium North Shore Mosquito Abatement Niles Township Niles Township General Assistance Consolidated Elections Village of Skokie Village of Skokie Library Fund Skokie Park District School District No. 68 Community College District No. 535
0.423 0.051 0.274 0.009 0.032 0.004 0.539 0.432 0.423 2.133 0.160
0.394 0.049 0.261 0.008 0.029 0.003 0.021 0.497 0.390 0.383 1.999 0.140
0.415 0.051 0.252 0.008 0.027 0.003 0.483 0.369 0.386 1.882 0.140
0.446 0.053 0.263 0.008 0.027 0.003 0.012 0.517 0.375 0.375 1.931 0.141
0.500 0.057 0.284 0.005 0.009 0.031 0.003 0.635 0.435 0.436 2.258 0.166
0.533 0.060 0.315 0.005 0.008 0.031 0.002 0.014 1.035 0.404 0.407 2.149 0.158
0.593 0.060 0.347 0.001 0.008 0.033 1.064 0.437 2.178 0.161
0.630 0.059 0.361 0.005 0.008 0.036 0.029 1.219 0.456 2.464 0.186
0.690 0.061 0.371 0.006 0.009 0.036 1.176 0.419 2.334 0.179
0.746 0.067 0.401 0.007 0.010 0.036 0.032 1.250 0.446 2.350 0.186
2.537
2.267
2.120
2.114
2.374
2.007
2.013
2.090
1.776
1.859
7.017
6.441
6.136
6.265
7.193
7.128
6.895
7.543
7.057
7.390
Direct Niles Township High School District 219 Total
*Tax Rates are expressed in dollars per $100 of assessed valuations. NOTE: The totals above reflect the typical tax rates for individual taxpayers within the District. By showing all other overlapping rates, we would have materially distorted the true picture of tax rate burden within the District. Source of information: Cook County Clerk's Office - Chicago and Suburban Property Rates Schedule -107-
Niles Township High School District 219 MAJOR CATEGORIES OF EQUALIZED ASSESSED VALUATION
2009 Valuation
Category Industrial Residential Commercial Railroad Farm
$
2008 Valuation
2007 Valuation
2006 Valuation
842,955,005 $ 1,005,741,942 $ 954,490,431 $ 868,325,560 3,022,912,596 2,941,329,200 2,695,301,742 2,105,087,062 1,291,249,104 1,427,823,099 1,385,611,968 1,185,334,507 301,283 250,198 228,876 208,493 164,195 49,932 49,932 49,932
$ 5,157,582,183 $ 5,375,194,371 $ 5,035,682,949 $ 4,159,005,554
NOTE: The information presented is the most recent information available at time of the audit. Source of information: Cook County Clerk's Office
-108-
2005 Valuation $
2004 Valuation
2003 Valuation
2002 Valuation
875,517,761 $ 791,220,709 $ 759,944,103 $ 777,260,258 2,077,538,727 1,916,591,345 1,546,858,012 1,541,425,301 1,215,764,653 1,125,802,472 1,006,066,683 1,039,524,327 209,137 221,965 196,944 182,020 49,932 49,932 49,932 49,932
$ 4,169,080,210 $ 3,833,886,423 $ 3,313,115,674 $ 3,358,441,838
-109-
Niles Township High School District 219 DIRECT AND OVERLAPPING GENERAL OBLIGATION BONDED DEBT June 30, 2011
Outstanding Bonds
Taxing Authority Niles Township High School 219
$
Applicable to District Percent Amount
162,768,952 (1)
Cook County 3,499,615,000 Cook County Forest Preserve 101,935,000 Metropolitan Water Reclamation District 1,974,078,439 Village of Glenview 143,720,000 Village of Lincolnwood 7,700,000 Village of Morton Grove 34,990,000 Village of Niles 23,090,000 Village of Skokie 68,725,000 Glenview Park District 16,955,000 Morton Grove Park District 750,000 Niles Park District 940,000 Skokie Park District 8,580,000 School District #34 21,955,000 School District #67 5,290,470 School District #68 2,065,000 School District #69 16,645,000 School District #70 5,020,000 School District #71 475,000 School District #72 7,410,000 School District #73 2,060,610 School District #73 1/2 8,840,000 School District #74 6,235,000 Niles Library District 3,475,000 Total Overlapping General Obligation Bonded Debt Total Direct and Overlapping General Obligation Bonded Debt
(2)
(3) (3) (3) (1)
(1)
100.00% $
162,768,952
2.81% 2.81% 2.87% 1.45% 100.00% 77.69% 44.86% 88.46% 4.78% 77.42% 49.33% 87.88% 0.28% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 34.48%
98,409,174 2,866,412 56,663,948 2,078,622 7,700,000 27,184,886 10,357,712 61,004,296 809,686 580,624 463,700 7,540,310 61,518 5,290,470 2,065,000 16,645,000 5,020,000 475,000 7,410,000 2,060,610 8,840,000 6,235,000 1,197,999 330,959,967 $
493,728,919
(1) - Includes original principal amounts of outstanding Capital Appreciation Bonds. (2) - Includes IEPA Revolving Loan Fund Bonds. (3) - Excludes outstanding General Obligation Alternate Revenue Source Bonds which are expected to be paid from sources other than general taxation. Note: Percent applicable to School District calculated using assessed valuation of the School District area value contained within the noted governmental unit divided by assessed valuation of the governmental unit. Sources of information:
Office of the Cook County Clerk Cook County Department of Revenue Treasurer of the Metropolitan Water Reclamation District -110-
Niles Township High School District 219 LEGAL DEBT MARGIN LAST TEN FISCAL YEARS
2011 Debt Limit
$
Total Net Debt Applicable to Limit Legal Debt Margin
164,231,463 $
50%
134,102,964
38%
$ 4,784,275,890
$ 330,115,036 $
2008
135,015,112
147,910,000
165,883,573 $ 221,770,207 $ 235,873,300 $ 199,552,123
Voted and Unvoted Debt Limit - 6.9% of Equalized Assessed Valuation Total Debt Outstanding
2009
330,115,036 $ 355,873,171 $ 370,888,412 $ 347,462,123
Total Net Debt Applicable to the Limit as a Percentage of Debt Limit 2010 Equalized Assessed Valuation
2010
164,231,463
Less: Exempted Debt
-
Net Subject to 6.9% Limit
164,231,463
Total Legal Voted and Unvoted Debt Margin
$ 165,883,573
Source of Information: Annual Financial Reports
-111-
36%
43%
2007
2006
2005
2004
2003
2002
$ 286,971,383 $ 287,666,534 $ 264,538,163 $ 228,604,982 $ 231,732,487 $ 215,781,345 122,475,008
127,395,008
106,909,033
108,728,171
88,713,237
90,966,858
$ 164,496,375 $ 160,271,526 $ 157,629,130 $ 119,876,811 $ 143,019,250 $ 124,814,487
43%
44%
40%
48%
-112-
38%
42%
Niles Township High School District 219 RATIO OF NET GENERAL BONDED DEBT TO ASSESSED VALUE AND NET GENERAL BONDED DEBT PER CAPITA LAST TEN FISCAL YEARS
Fiscal Year Ended June 30,
Tax Levy Year
2011 2010 2009 2008 2007 2006 2005 2004 2003 2002
2010 2009 2008 2007 2006 2005 2004 2003 2002 2001
General Bonded Debt $
164,231,463 $ 134,102,964 135,015,112 147,910,000 122,475,008 127,395,008 106,909,033 108,728,171 88,713,237 90,966,858
Equalized Assessed Valuation 4,784,275,890 5,157,582,183 5,375,194,371 5,035,682,949 4,159,005,554 4,169,080,210 3,833,886,423 3,313,115,674 3,358,441,838 3,127,265,864
Source of Information: Annual Financial Reports
-113-
Ratio of Bonded Debt to Equalized Assessed Valuation 3.43 2.60 2.51 2.94 2.94 3.06 2.79 3.28 2.64 2.91
Estimated Population 105,882 $ 105,882 102,638 102,638 102,638 102,638 102,638 102,638 102,638 102,638
General Bonded Debt Per Capita 1,551.08 1,266.53 1,315.45 1,441.08 1,193.27 1,241.21 1,041.61 1,059.34 864.33 886.29
Niles Township High School District 219 RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR GENERAL BONDED DEBT TO TOTAL GENERAL EXPENDITURES LAST TEN FISCAL YEARS
Fiscal Year Ended June 30,
Tax Levy Year
2011 2010 2009 2008 2007 2006 2005 2004 2003 2002
2010 2009 2008 2007 2006 2005 2004 2003 2002 2001
Total General Expenditures (A) $
151,201,310 130,893,046 116,792,373 108,577,108 97,066,673 91,782,360 86,010,629 104,728,050 135,128,752 108,360,441
Debt Service Fund Expenditures (B) $
24,398,843 5,766,567 5,863,661 9,201,673 7,306,463 7,167,845 6,646,410 6,617,585 6,484,049 4,180,817
Percentage of Annual Debt Service Fund Expenditures to Total General Expenditures 16.14 4.41 5.02 8.47 7.53 7.81 7.73 6.32 4.80 3.86
(A) Includes expenditures of all Governmental Fund Types. (B) Debt Service Fund expenditures represent payment of principal, interest, and other charges on General Bonded Debt. Source of information: Annual Financial Reports
-114-
Niles Township High School District 219 RATIO OF OUTSTANDING DEBT BY TYPE LAST TEN FISCAL YEARS
Year
General Obligation Bonds
2011 2010 2009 2008 2007 2006 2005 2004 2003 2002
$ 164,231,463 $ 134,102,964 135,015,112 147,910,000 103,780,008 107,450,008 85,749,033 86,368,171 88,713,237 90,966,858
Certificates of Participation $ 18,695,000 19,945,000 21,160,000 22,360,000 -
Total
Percentage of Equalized Assessed Valuation
164,231,463 134,102,964 135,015,112 147,910,000 122,475,008 127,395,008 106,909,033 108,728,171 88,713,237 90,966,858
3.43% 2.60% 2.51% 2.94% 2.94% 3.06% 2.79% 3.28% 2.64% 2.91%
Source of information: Annual Financial Reports
-115-
Ratio of Total Outstanding Outstanding Debt Debt Per To Personal Capita Income $
1,551 1,267 1,315 1,441 1,193 1,241 1,042 1,059 864 886
3.26 2.69 2.85 3.02 2.58 2.85 2.57 2.78 2.36 2.46
Niles Township High School District 219 PRINCIPAL TAXPAYERS IN THE DISTRICT CURRENT TAX YEAR AND NINE YEARS AGO
2010 Equalized Assessed Valuation *
Taxpayer #1 #2 #3 #4 #5 #6 #7 #8 #9 # 10
WFLD Processing Department DDRTC VLG Crossing LLC Simon Lincolnwood Prop. Grp. Kraft Foods CRP Holdings Zeller Realty Group Inland Real Estate Walton S. Capital LLC CFO2 Shure, Inc. Total
$
201,761,657 50,708,661 40,842,368 33,774,375 32,232,140 31,745,621 25,644,003 24,227,676 23,688,888 22,629,697
4.22% 1.06% 0.85% 0.71% 0.67% 0.66% 0.54% 0.51% 0.50% 0.47%
$
487,255,086
10.19%
2001 Equalized Assessed Valuation *
Taxpayer #1 #2 #3 #4 #5 #6 #7 #8 #9 # 10
Percentage of Total 2010 Equalized Assessed Valuation
Percentage of Total 2001 Equalized Assessed Valuation
LaSalle Trust A7711691409 Monsanto Kraft Foods Hamilton Partners Marshall Fields Rose Real Estate Village of Skokie W.W. Granger Inc. Simon Lincolnwood Avon Products
$
92,764,856 51,219,114 31,962,708 26,407,070 25,317,616 24,608,591 22,587,934 21,600,526 19,548,036 19,197,739
3.38% 1.86% 1.16% 0.96% 0.92% 0.90% 0.82% 0.79% 0.71% 0.70%
Total
$
335,214,190
12.20%
*Includes only those parcels with a equalized assessed value of approximately $300,000 or over. Source of information: Cook County Clerk's and Assessor's Offices -116-
Niles Township High School District 219 PRINCIPAL EMPLOYERS CURRENT YEAR AND TWO YEARS AGO
2011
Employer Federal-Mogul Corp. MFRI, Inc. Northshore University Healthsystem John Crane, Inc. Woodward MPC Corp. Skokie Park District W.W. Grainger, Inc. Avon Products, Inc. ITT Resid. and Commer. Water Niles Township High School
Community Skokie Niles Skokie Morton Grove Skokie Skokie Niles Morton Grove Morton Grove Skokie
Type of Business or Property Gaskets Piping systems Health care Mechanical seals Aerospace devices Recreational programs Compressors and fans Cosmetics Centrifugal pumps Public high schools
% of Total Employees Employment 1,500 1,300 1,200 900 900 826 763 750 650 648
3.20% 2.77% 2.56% 1.92% 1.92% 1.76% 1.63% 1.60% 1.39% 1.39%
2009
Employer Rush North Shore Federal Mogul John Crane Packing Avon Products, Inc. W.W. Grainger ITT, Bell & Gossett Northshore University Health Systems Food for Thought Coca Cola Bottling Co. MPC Products Corp.
Community Skokie Skokie Morton Grove Morton Grove Niles Morton Grove Skokie Lincolnwood Niles Skokie
Type of Business or Property Health care Gaskets Mechanical seals Cosmetics Electric motors Centrifugal pumps Health care Caterer Beverage Distributor Hand Tool Manufacturer
Sources of Information: 2011 Illinois Manufacturers' Directory 2011 Illinois Service Directory 2011 Harris Illinois Industrial Directory Phone canvass 2009 Comprehensive Annual Financial Report Note: 2009 is the most current information available
-117-
% of Total Employees Employment 1,488 1,456 1,350 1,100 850 750 700 599 550 548
1.45% 1.42% 1.32% 1.07% 0.83% 0.73% 0.68% 0.58% 0.54% 0.53%
Niles Township High School District 219 DEMOGRAPHIC AND ECONOMIC STATISTICS LAST TEN YEARS
(a) Year
Population
2011 2010 2009 2008 2007 2006 2005 2004 2003 2002
105,882 105,882 102,638 102,638 102,638 102,638 102,638 102,638 102,638 102,638
(b) *Per Capita Income $
47,555 47,084 46,161 47,752 46,264 43,541 40,549 38,559 36,554 35,988
(a) x (b) Personal Income $
5,035,218,510 4,985,348,088 4,737,872,718 4,901,169,776 4,748,444,432 4,468,961,158 4,161,868,262 3,957,618,642 3,751,829,452 3,693,736,344
*Note 1: Data is for Cook County. Note 2: Estimate was used for 2010 and 2011 per capita income. Source of information: U.S. Census Bureau Bureau of Economic Analysis: Regional Economic Accounts Illinois Dept. of Commerce and Economic Opportunity
-118-
*Unemployment Rate 10.8% 10.9% 11.5% 6.6% 5.4% 5.3% 5.7% 6.6% 7.3% 6.9%
Niles Township High School District 219 SCHOOL BUILDING INFORMATION LAST TEN FISCAL YEARS
2011
2010
2009
2008
Niles North High School (1964) Square Feet Capacity (Students) Enrollment
505,188 2,968 2,175
504,997 2,400 2,121
503,247 2,400 2,177
503,247 2,400 2,198
Niles West High School (1958) Square Feet Capacity (Students) Enrollment
577,932 2,733 2,553
556,383 2,600 2,623
547,009 2,500 2,556
547,009 2,500 2,504
Source of Information: Architect's Data and Sixth Day Enrollment Forms
-119-
2007
2006
2005
2004
2003
2002
503,247 2,400 2,199
503,247 2,400 2,264
503,247 2,400 2,243
503,247 2,400 2,280
304,913 1,600 2,284
304,913 1,600 2,257
547,009 2,500 2,571
547,009 2,500 2,470
547,009 2,500 2,502
547,009 2,500 2,508
328,722 2,100 2,478
328,722 2,100 2,410
-120-
Niles Township High School District 219 NUMBER OF EMPLOYEES BY FUNCTION LAST TEN FISCAL YEARS
2011 Administration: Superintendent District Administrators Principals and assistants Building Administrators Total administration Teachers: Regular classroom teachers Special education teachers Guidance/Counselors Psychologists Librarians/Media Specialists Social workers ESL/Bilingual Teachers Speech/Language Therapists Reading Specialists Certified Nurses Total teachers
Total staff Function Instruction Regular and Special Support Services Pupils Instructional Staff General administration School Administration Fiscal Maintenance and Security Transportation Central Extra Curricular Activities Total
2009
2008
1.0 6.0 6.0 22.0 35.0
1.0 6.0 6.0 21.0 34.0
1.0 6.0 6.0 21.0 34.0
1.0 6.0 6.0 20.0 33.0
273.8 61.0 21.0 7.0 5.0 9.4 10.8 2.0 3.0 2.0 395.0
278.6 67.0 20.0 7.6 5.0 6.4 9.2 1.8 3.0 2.0 400.6
263.8 63.6 23.1 9.2 6.6 9.5 9.4 2.8 4.5 2.0 394.5
272.0 62.5 21.0 7.6 4.0 7.5 6.9 2.8 3.0 2.0 389.3
17.0
16.0
16.0
14.0
157.0 44.0 201.0
161.0 47.0 208.0
164.0 52.0 216.0
159.1 51.0 210.1
648.0
658.6
660.5
646.4
Coordinators/Supervisors Other supporting staff: Confidentials/Secretarial/Clerical/Paraprofessionals Custodial/Maintenance/Security/Technology Total support staff
2010
2011 392.6 91.4 26.0 9.0 55.0 9.5 38.0 0.5 22.0 4.0 648.0
Note: Beginning with fiscal year 2003, certified school administrators (TRS employees) are listed under "Administration" and noncertified school personnel (IMRF employees) are listed as "Coordinators/Supervisors." Source of information: District Personnel Records, District Seniority Lists, and Teacher Service Records -121-
2007
2006
2005
2004
2003
2002
1.0 6.0 6.0 20.0 33.0
1.0 6.0 6.0 20.0 33.0
1.0 4.0 6.0 15.0 26.0
1.0 4.0 6.0 16.0 27.0
1.0 4.0 4.0 17.0 26.0
1.0 12.8 4.0 22.0 39.8
276.5 61.4 20.9 4.5 5.0 5.5 6.5 2.7 3.0 2.0 388.0
270.5 63.6 20.8 5.0 5.0 7.5 7.2 2.6 2.4 2.0 386.6
262.7 67.6 21.0 5.5 6.0 7.4 7.8 2.6 2.0 2.0 384.6
255.6 58.6 20.0 5.0 7.0 7.4 7.6 3.0 0.4 2.0 366.6
257.9 66.1 20.6 4.0 8.0 6.0 7.7 1.6 1.4 3.0 376.3
263.2 59.4 20.3 4.0 8.0 5.5 9.6 1.6 1.4 5.0 378.0
14.0
14.0
14.0
12.0
11.0
-
152.0 52.0 204.0
151.4 50.8 202.2
141.3 51.0 192.3
146.0 47.0 193.0
140.0 51.0 191.0
135.0 53.0 188.0
639.0
635.8
616.9
598.6
604.3
605.8
-122-
Niles Township High School District 219 OPERATING INDICATORS BY FUNCTION LAST FIVE FISCAL YEARS
Function Instruction Regular and Special student enrollment Support Services Pupil Languages spoken by student population Instructional Staff ACT assessment composite score School Administration Average daily attendance Fiscal Purchase Orders Processed Maintenance District Square Footage Maintained by Custodians and Maintenance Staff District Acreage Maintained by Grounds Staff Transportation Avg. number of regular pupils transported per year Avg. number of regular bus runs to/from school Extra Curricular Activities Number of competitive sports Number of student clubs
2011
2010
2009
2008
2007
4,728
4,744
4,733
4,702
4,770
78
78
81
70
50
22.0
22.4
21.2
22.3
21.9
4,525
4,311
4,256
4,256
4,373
5,534
5,547
5,488
5,445
5,529
1,135,183 1,104,431 1,104,431 1,104,431 1,104,431 99 98 98 98 98
4,073 88
3,879 88
3,903 88
3,906 88
3,872 88
24 91
23 80
23 80
23 75
20 70
Source of information: Sixth Day Enrollment Report, Fall Housing Report, Purchase Orders, and Transportation Report Note: Information presented is the most recent available.
-123-
Niles Township High School District 219 DISTRICT HISTORY
June 1936
Voters approved formation of a four-year high school program.
November 1936
A $450,000 bond issue was approved to construct a high school building (Niles East) on the land adjacent to Lincoln School.
1937
Purchased 21 acres of adjacent land for $60,000 from Niles Center (Skokie) Park District to construct Niles Township High School (Niles East).
January 1939
457 high school students moved from Lincoln School to the newly constructed Niles Township High School (Niles East).
April 16, 1939
Niles Township High School on Lincoln Avenue was dedicated.
1953
District 70 purchased approximately eight acres of land to build Parkview School. District 219 had purchased the land for future use but found it too small for a high school.
August 1954
A $300,000 bond referendum was approved for the purchase of 56 acres of land on Oakton and Major for a second high school (Niles West).
August 1955
A $2,000,000 bond referendum was approved for construction of a new high school (Niles West).
September 1958
Niles Township High School West opened.
March 4, 1961
Voters approved funds to erect a building for Niles North High School on Lawler Avenue, west of Old Orchard Shopping Center.
April 1963
As provided under Illinois law, all ten public school districts of Niles Township entered into a joint agreement and established Department of Special Education.
November 1, 1964
Niles Township High School North was dedicated.
January 10, 1967
Niles Township Federation of Teachers (AFL-CIO) won a resounding victory over the Niles Township Education Association and was established as the bargaining agent for Niles Township High School teachers (now known as NTFT).
May 25, 1967
Niles Township Federation of Teachers (NTFT) did strike over a salary dispute – the first teacher strike in community history.
(Continued) -124-
Niles Township High School District 219 DISTRICT HISTORY
1972
Niles West Indians, coached by Jim Phipps, won first Illinois High School baseball championship.
September 1973
NTFT voted to strike and delay opening of school.
April 29, 1974
Bart Conner, sophomore at Niles West High School, appeared in Sports Illustrated’s feature “Faces in the Crowd” for winning the IHSA all around gymnastics title with an 8.59 average. He won parallel bars for the second consecutive year.
June 1975
Niles West Indians, coached by Jim Phipps, won second State Tournament Baseball Crown.
June 16, 1975
Board of Education voted 4 – 2 to close Niles East High School due to declining enrollment.
February 9, 1976
School board established committee to close Niles East.
June 21, 1976
Ad-hoc committee appointed by District 219 presented report on recommendations for closing Niles East at the conclusion of the 1979 – 1980 school year.
September 20, 1976
NTFT did strike during contract negotiations.
September 4, 1979
Teachers went on strike.
June 1, 1980
Niles East closed its doors for the last time.
August 1984
Bart Conner, 1976 graduate of Niles West, won individual parallel bars gymnastic event at the 1984 Olympics in Los Angeles, CA.
1990
Niles East building and site were sold to Oakton Community College.
1993
Niles East High School was partially razed to make way for the new satellite campus for Oakton Community College.
October 21, 1996
NTFT did strike for the fifth time in 24 years and the first time in 11 years. The strike lasted for ten days.
1997
Board of Education ratified a new four-year contract with its teachers.
(Continued) -125-
Niles Township High School District 219 DISTRICT HISTORY
March 2000
Voters approved a $65 million bond referendum for construction of additional classrooms and improvements to its two high schools.
May 2000
Construction began at Niles North and Niles West High Schools to enlarge and upgrade buildings to better serve our 4,526 students.
May 2001
The District refunded a portion of the $65 million bonds.
June 2001
During fiscal year 2001, the District spent approximately $3,900,000 on its construction program.
June 2002
During fiscal year 2002, the District spent approximately $32,400,000 on its construction program.
November 2002
The District placed a 79 cent Education Fund rate increase referendum on the ballot. The outcome was 29% of the voters were in favor of the referendum while 71% of the voters were against the proposed rate increase.
June 2003
During fiscal year 2003, the District spent approximately $52,800,000 on its construction program.
July 24, 2003
The District sold $22,360,000 in General Obligation Limited Tax debt certificates.
March 16, 2004
Voters approved a 23 cent Education Fund property tax rate referendum.
October 2004
The Board of Education and both bargaining units, Niles Township Federation of Teachers (NTFT) and Niles Township Support Staff (NTSS), approved a five-year labor agreement for fiscal years 2005 – 2009.
December 2004
The District refunded a portion of the $65 million bonds and issued $19,230,000 of General Obligation Refunding School Bonds.
June 2005
The District withdrew from its special education cooperative, Niles Township District of Special Education (NTDSE).
August 23, 2005
Students’ schedules changed from prior years of utilizing blocks (mods) of time grouped to create 40 or 55 minute classes to nine 42-minute class periods.
(Continued) -126-
Niles Township High School District 219 DISTRICT HISTORY
April 17, 2007
The District received the Kennedy Center Alliance for Arts Education Network and National School Boards Association award for 2007. This prestigious national honor is bestowed on school districts that demonstrate support for all four artistic disciplines in their arts education program including visual arts, music, theater, and dance.
November 1, 2007
Issued $10,500,000 General Obligation Debt Certificates to be used to improve the sites of, build and equip additions to and alter, repair and equip the District's existing facilities.
December 28, 2007
Issued $96,555,000 Refunding Bonds that provided for the refunding of previous issues Series 1998, Series 2003 and Series 2007 debt certificates and portions of Series 2000, 2001, and 2004.
June 2009
During fiscal year 2009, the District spent approximately $2,900,000 on its construction program.
June 2010
During fiscal year 2010, the District spent $8,090,392 (the remaining funds) of the General Obligation Debt Certificates issued in November 2007.
October 5, 2010
Issued $16,000,000 in General Obligation Debt Certificates.
December 28, 2010
Issued $62,205,000 in bonds ($32,435,000 Taxable General Obligation Refunding School Bonds, Series 2010A; $9,745,000 General Obligation Limited School Bonds, Series 2010B; $20,025,000 Taxable General Obligation Refunding Limited School Bonds, Series 2010C). This new issuance provided for refunding the 2010 debt certificates, portions of Series 2004, 2007A and 2007B bonds, and all of the outstanding 2007C bonds.
(Concluded) -127-
Niles Township High School District 219 SCHEDULE OF INSURANCE IN FORCE
I.
Package Premium A. Policy Number B. Carrier C. Policy Period D. Premium E. Coverages F. Limit
II.
III.
IV.
V.
S1324488 Selective Insurance Co. of the Southeast July 1, 2010 - June 30, 2011 $23,746 Property, General Liability, Garage Liability, Crime, EDP, and Automobile Liability and Physical Damage Replacement Cost $1,000,000 limit $1,000,000 per occurrence/$3,000,000 aggregate per District $2,000,000 combined single limit
Specific and Aggregate Excess Workers' Compensation and Employers Liability Indemnity A. Policy Number B. Carrier C. Policy Period D. Premium E. Limit
EWC006651 Midwest Employers Casualty Co. July 1, 2009 - July 1, 2011 $63,530 $300,000 per case/$1,000,000 aggregate
Boiler and Machinery A. Policy Number B. Carrier C. Policy Period D. Premium E. Limit
76401709 Chubb Insurance Co. July 1, 2010 - June 30, 2011 $4,267 $100,000,000 per occurrence
School Board Legal Liability A. Policy Number B. Carrier C. Policy Period D. Premium E. Limit
6054522 Illinois National Insurance Co. - Chartis July 1, 2010 - June 30, 2011 $7,192 $1,000,000 per member
Excess Liability A. Policy Number B. Carrier C. Policy Period D. Premium E. Limit
YUB301054B Genesis Insurance Co. July 1, 2010 - June 30, 2011 $9,719 $1,000,000 per occurrence/$1,000,000 aggregate per District
(Continued) -128-
Niles Township High School District 219 SCHEDULE OF INSURANCE IN FORCE
VI.
VII.
VIII.
IX.
X.
Excess Liability A. Policy Number B. Carrier C. Policy Period D. Premium E. Limit
G22035216003 Ace/Westchester Fire Insurance Co. July 1, 2010 - June 30, 2011 $4,957 $10,000,000 per occurrence/aggregate per District
Excess Liability A. Policy Number B. Carrier C. Policy Period D. Premium E. Limit
117-28-91 Lexington Insurance Co. July 1, 2010 - June 30, 2011 $1,923 $24,000,000 per occurrence/aggregate per District
Excess Property A. Policy Number B. Carrier C. Policy Period D. Premium E. Limit
KTK-XSP-545D521-1-10 Travelers Insurance Co. July 1, 2010 - June 30, 2011 $23,916 $1,000,000,000
Excess Property A. Policy Number B. Carrier C. Policy Period D. Premium E. Limit
0661-37-99-ILL Chubb Insurance Group July 1, 2010 - June 30, 2011 $552 $100,000,000
Pollution Liability A. Policy Number B. Carrier C. Policy Period D. Premium E. Limit
PLC 1952393 Chartis Environmental July 1, 2010 - June 30, 2011 $2,428 $1,000,000 per occurrence
(Continued) -129-
Niles Township High School District 219 SCHEDULE OF INSURANCE IN FORCE
XI.
XII.
XIII.
Identity Theft A. Policy Number B. Carrier C. Policy Period D. Premium E. Limit Foreign Liability A. Policy Number B. Carrier C. Policy Period D. Premium E. Limit
Fiduciary Liability A. Policy Number B. Carrier C. Policy Period D. Premium E. Limit
XIV. Student Accident - Mandatory A. Policy Number B. Carrier C. Policy Period D. Premium E. Limit XV.
Student Accident - Catastrophic A. Policy Number B. Carrier C. Policy Period D. Premium E. Limit
01-951-38-70 Lexington Insurance Co. - Chartis July 1, 2010 - June 30, 2011 $4,750 $1,000,000 per occurrence
WR10003263 Insurance Co. of the State of Pennsylvania July 1, 2010 - June 30, 2011 $1,098 $1,000,000 per auto accident (liability) $10,000 per auto accident (medical expense) $30,000 per hired auto/$250,000 each hired auto loss (physical damage)
8211-1782 Federal Insurance Co. (Chubb) July 1, 2010 - June 30, 2011 $2,100 $1,000,000
DHH851000-4 QBE Specialty Insurance Co. July 1, 2010 - June 30, 2011 $21,158 $25,000 per claim
4102AH340888-0 Markel July 1, 2010 - June 30, 2011 $4,744 $5,000,000 per claim
(Continued) -130-
Niles Township High School District 219 SCHEDULE OF INSURANCE IN FORCE
XVI. Other CLIC Loss Fund - Package Arthur J. Gallagher - Pool Management/ Brokerage Services CLIC Loss Fund - School Board Legal Liability Gallagher Bassett Claims - Claims Administration Gallagher Bassett Loss Control - Loss Control Services
$228,420 $15,626 $4,916 $3,533 $975
(Concluded) -131-
Niles Township High School District 219 OPERATING EXPENDITURES PER STUDENT June 30, 2011
2011 Expenditures: Educational Fund Operations and Maintenance Fund Transportation Fund Municipal Retirement/Social Security Fund Debt Service Fund Tort Immunity and Judgment
$
Less Revenues/Expenditures not Applicable to Operating Expense of Regular Programs General Educational: Tuition paid Summer school Capital outlay Community service Payments to other districts and governmental units Operations and Maintenance: Community service Capital outlay Special Revenue Transportation: Summer school Capital outlay Municipal Retirement: Summer school Community service Debt Service Debt retirement
Net operating expenditures
$
Average daily attendance
2010
83,345,515 16,989,738 4,313,634 3,357,697 24,398,843 3,241,656
$
135,647,083
110,690,641
3,757,428 528,438 1,360,970 355,984 1,658,975
3,340,401 399,333 2,498,691 232,537 1,964,516
101,267 6,223,483
4,168,124
19,450 72,976
15,750 -
25,183 1,295
15,960 781
17,845,000
1,095,000
31,950,449
13,731,093
103,696,634
$
4,525
Operating expenditures per student
$
Source of information: Annual Financial Report -132-
80,023,268 13,201,804 5,005,720 3,068,998 5,766,567 3,624,284
22,916
96,959,548 4,311
$
22,489
