o-0 S...o-0 S ... Jefferson

Zo

>o-0

Su

S)-i

m(/)

Q

u

wZ

ZE

[1}. -sp9er?€'l,ia 4'*aa,?}

jl

[ !'?wart"1k M4

[.,1v'!

71 a?

'd

q -JffiV

?<'1V * ?? ':H

'9'?111

1

Financial Section Lw

(

[I

7/

";?M

l

}I?

fI

!l

1']?l

?'-'-"'!? a - i

l?

r-slj l :%-

ih

l-

1

s

lQ

!W ffi

4x]

?4yytr?N- !r'', %'!

k-q

WXY;T??

ja j

wb.

I

k

'*€ Al

l!LlrpQl

#n

'%ji

Mg

!. jW

.--l

lk

kt il$J!

r

l I-iu

u

t'6A

1r 1 Jl:MnW;d

%i i

1

l

€uuol ftAi

'l

'.,? r

/

Nk

J

l

il-]

j?

P tnNNl

'W-4?

Wa

/i

iT?m.lL

- Jali

11

-i%"!] r,,l

$

&?7W'

rla

l

jl ba

ll

<lksit

lr

Je

Q?t.ml@l

>%?

'?ti

>u'c '??la(:4%m? .6fl':E: S q w.8 Ho E' ?!! F'aa's r,; H' N

effl ,?3 K % k.

; ,,:j :q 4 3 9

O(J+c(0

E!4-l

<)ffi!(/)

%!ll

? a). a) ao (Q ?iC)J:€C:'Cl. -

€:c a?oa5'o' ?o""? :ttit ?j :caa-Toga)S"a):,? .1 1, og. =tt" 2? ? In Ol-

g aa'aa =% .J: a)ffl . aO? ?% J:,'0 ffl '!' 3 . a)jj!" "e j 'u5 !"

=o: -: 9-,L;: ":<-o 6':?a) :>.n=0v :) q'y 'ff a)

%B:Nfoo6:

?w ,'a'a? ;a) Q 'k-*- O Q)(/)(0;ei>B '; -j =oH:?3>eiN-€oa; ?';?EO -B . -5 E(. C: ?C

?'o3EC'Th 'c a= <s Eo a=?a>" Ojo,,oia)9! J)'cl)a)?-na) .0 s Q ()(/)lJ5- -wa) € E 'Tl !'1 rij a, 'Bc, p's a" o0 tn,".c ?2' oo # '>" ri?' affi'C- : o :l >'o E

0 0)E jo C ,;a' ?a=cmCQ,Q.w.U?,,o O) s D = iu g>c C m CQ a> s U).

C-.E?C j)'CL

Xa'?Z'nn€DtnO a)C%?' -5-C)na) (1) 0 ? a) C0 0 a'a'? o ,4? m? C ns -- -:o §c 2 ??-o Bi- ffi g,

'E O a-?'Zm" CL5 3!!r" 5o !!trim.c.?.TT5U) m?cC.:!: rn(b

oFA;a 4? "P '??P' E" a'WaJwc '(Q' W" a: 2" ",a-

C' E '0a as J'mODC'lt)'ffl O Q: E!! ?'u'

'u i € 'o-a: E<cEo:)? ', E .Q § g06

(B l? N @)a-=J:

>H ,o -?Cl"'wC

(;m(<6mB(.U) 0 .C a -a)OCl'me ?'-?- - :> 0(Q ? ?

?C}a)

?.= ci ?s ??u:i9209(/)J:, ,' CE m?'-0?0

I E? a' !:!:go a) 'm C

L2 bo ,? gO i A( 111?mo 7i ?(l) ??(l)?? a) 2 gom s 'W -z-B s !-p =, u,'acD '-'o" !jj' a;e 5=- 'tt: .a?..l,ffi.'9io'a'.i N, (@..) q 9 .c=0 C ?? '-C)')0-

..'h-Qg.a) .C .m -=

"na)m= j ?, j)ll- C (:0 :5 w0:l)

11-,

J-'CD =C(-C)Qa) a= a) aCC: ('C) 'L}(Da (DaC

E ,j ! EE ,i ! -zm - -Bca)0a) ?-l-IEE!' oU)'-!!!l @) ffiu) ? (0 0)

B R 5;,m-

affi.o'aaa ?"; Z ;(4os ,gi,z ,G'C)) ?o':' €e=*','(1) 8'7*!j ?rsL" swmc" > US

!Ie

'F!?c!IQ

(t) n 'h ?a = 0 <DA C O a)

ao 6 ?' "-o EO' C -??o. 0'(0. 2, ' ,:- '?8 '-o".2.m' +;o .,%,o;ziS2,';. (D

n5:-!mi@) rw= z art % rsie z art % gia00J:C2 CO e:- -a5s(5(l)m.-

(. -w C

% M B' 9)= =g?' a'a'-? O m

p?" ?o E E> O @)' 5'() q jm ()o : * 'jm 83 (O iu cri m

,C a) C:,C)

-E!J ?U) ?.mcns !o ?ca)'13,'E)mg)Qa)0 ('-I,N-!;A(QU),!:# :: E qm ? '4'- p'?m ? ? ?o

co !! S 'ai,O B? Cm ?mEo)C:0= E .';2 v{no s-< a"m? )Eo(1) () m y(-- ?? CL ,-iG U) 0)?B(Q

a:?

(7'aa)%-

5a)T'l)8 '?4c

,',, z :o E(f3? .i-iH S 'g y't"aEmart =i (!! sa' a' a' iw J: s,,:a' 4 T)o a'!j', ,C ', ,a''= o E

p A j))a,T K Ec-hJ?

a)

U)9'§,.oo'c fi ?(,l Qm? ?s.. Bc, ae?%J.. C: Cc(tl,.G2 :> ffi N

-'4-a?4

ffl C !':-"- a)

'l--o NS,i,prss O e?a6)@ E(/J)O

a) a) C:: i!:

()ca)

lt- ffi r rn"KEa!a) --?-l m$ Bao =,, ., - (tl?"C? af7 a!' 6'o6CL O) cO B'aU) O a-D C(pOCOB? (f5. 7 ?e%!a)(l)

C , ?t/)@ a) El. ",E @ .E- .m=gip3%m '- a oC(0--.(;5 0 Vl !-5 M € o

E

3iaa

!3Ca)

E=amR

-hl

€Q

(a

QefflaCartJ:

l-

0lh-

2-

€

thC6C!thart

CeU)::Q

Eam('aCm

s

c0?'mO:)nLu

;€

'E} ',(Cu6>OC0Ja)>o

.b-?a) C -E? s f:-l-1, ll}!" '0 a'00"(/)CO)-

n E >ga).!'E, E '5, a) Ci5" 53

!l

Q

Eas*d(tl*.I

€/)

i'aCmc

LL

Co

t:'oaa)a:

t:0We

0!"

E0Q

v:I<4-]

€a)vCartClaV:

>

J:}

mCoClWea:

"WO

Th:$<

?'h-,Om

.,a> ':ffi -C5art A ,E:=' aa?- ?? a) -,'0 "? o() JC: ,. ah' ui

% .= oc?,J)*-aC}

Q)a)J9 B 6C :g -(1)l+-,-co

i..icK,O--:l

e,-,r(? (O >

(1)5p,A E ?;

(DC

.,c ?CL B03.!!!U)?%)(U)c0 4 (35-=a).a-EBCL, "@ a+ff

,oc'-!)g

) N o.Q..a-U)

Qo)(pC.

o

a.E (Clu ,(:w ?. '-r, ,% :}JH.Q A

awl-?C}a)

s(6I" Oj:l u-.

', ,U) 9'C" s A'

5:5,,5.., m- z-;?C)' ffl JQ ffi3accp)aC:Cm0,Q) E

ay

NQCLQ)

r- ?4-I

', c !:'000 0 0

O(/):;(Q ? art >(l) g .- -1-l-&-J2 Q Q

a(% a@ 'mO) ?mf8:a.Eat'a (/) ?'c? ..e? ? ???? ?g)-am.!="o

' rA C as a) CB s ?c ! ?mc K

5==5sioa

B? ; J;l 3" ?zo N ,E 'p"s .C 'a ? 3 a- j)

rs O Q ,0 @ > a(?: ' (0 n "' g) ?

(i o ,Q co > cQ .?a) :":' laTi '32 :) 9i2' oa) eo m' ?a)

€D * -,-ec g. ,3g .j-(:I:(0

rii ) JQ -,-a'g)U)(OC

":o a???'a?'a Eo af?aaa: mo'oo ??""C a: '??:aoU,, = B' N m" "N ,?$),? V ? ,?ca;? s og oD-' o. Q a'Ez? o= a% Wa"

2 c B ?SD %) A 'o o a'aC:' "m L' A?) w c ui a) -+-' m rn

o ?'W E as a) 52 m :soo ;"oo :'o a'i aano :o mcc))a' N'o

Q)%ffC:-kJlllmC- a)

nn."a)>45a'.5CLm.,Oa)wCs 0na+Oo

c

a0

CLC?

C))'o

€,4? 'oOC

0na)sart

'Cl

a),S! §j:lm? -rh. ?CQ:-C))E ;5aa)'@)pn(-)u?-i-O00Cm

a+5"0:czm

B!n(-j,-'0 s

a):5a)(Q

Eo

-gNO

a'???7='Eyeaaq Qj!- Er.nm

C:;iC:- am.2;('m?g n ",0 j5 ?'a

?O @> ()=:i 111 %-Iv E, a)00nO

a M,eL- j:? ,o

-"- sa)?005j:l (/).S (0 m

,;c,, 8c ,N a=thm o! .:m,o <-, o,1" Em BcO oc,' :-c@ .co A -C:lm '?o a?"'a(;), )r-? qo g cmcE; .??cot- :N :: 4"o '=aoL' a:a (n""% Q0

E'?j" 'o V' "7: "o: a'e r';"m B'I ' iS? 2 n.Tp,*C .g<o ?::)n =-;o nEo ,a .2'- m, :.-;=u .?:ffl % z,$mC ';o )o;';o ': a5:Jcza" a';ao j Iom''a':' 7w;=co :?o? f:o.:?? a"C8 =m(- ??:o a)?(1=c)' "-a'o=(3) ,,?':l a";.:aooE.0o.

"'a?:'i ' ?:?"a a"""'l a??"o?R o:o' ?':?' "?"o"j"" '#oaa??" l--::-." J-"*.:?o':el: '-'io:"

='ti=H== :z=,o=+ 'J.-=: ?'=%[hcE:. ?,:EEa, .:--:=.-. ;#>E l':-'oh""?=m =E"?=(!lm=: =-ti=,m=== .b=lO=,== l=ooi2, :o:coc.??pi. "t i f j:" €1 ?%?""""?H oE j'o" ffioa' ""{i?'.U ; ,= 'm= (),o0t='="r. J'CoO c-oai?'eo (o:'J:l?a'o :=t,?- ?'-a,aG?C=c,ooco'cm'V ao?" =8 cm?o'f5 ,gol?mOOo' ?ao?0"' a:.Co' jomoc' ?ri?'o?"?" oo'a=?J:o" 'o':' ?'aaaQ"o ?':"C?' 3; c:"' ?S2Do'

m?Og2) ?g? .8 ?T.s'?? z;:> s a):? m CL

?--g ,

"'a('O[c'S!! 2f,'oz' 4

nalT; ?7M? ;M" ""W- ..,=?????=,;o?,c,='o"?co?'-' ?'M%lk ':mc,-j-,,o..'oc':?o'?i-%-tu7.O:' ;'?'m' ;cm ??:Eo aM"?aaa "'t'm.o,-,u. %.EL' ?"M,.l?oe'Q :;J ocQi a--,?o'"'i: me"" :'N!s'ao"W.,%?fflm Qm 'M? .fi=a?= N?. ':? jJ,

??Q?.7?i?'?m? " ?"?mo.?.?m?'Nco?.Es?'?'ac,? ' :? a"?'?C??t?. a?":€aa c':'?,nh ' m=: :.c' s co m U) c @ ? 7? cc" m g

)O .m' err, uo;ai i,c,o"o? 'K '@aM W,,'K W, z,a.<O o?a< m o co<C o vi art o.

cOa)

E.r'l:I(;!QwC.a).pa)Ci:lg50s(!)ai(:)a5no--S??1,C50a65i

s

?€6(DE@ .-t'6jC?'?€4

-C:'d(tlff0

0ij::C5

SrD

ff

>

,lHa>

pgD B. !EEa)Nj,;zjm

; 0-a)mc.B e BO,(pC' J' A(O m (Q? -l-J J,(0(l) (Q

5mEa) '0 -CC '- -"-b-i m srsO0'-i-'a:lLL

a)'C)ffll-Om:7n

?'o0C-{Tlri,c- m E)g'oBaP rll E0)-

(;m:QCcC(?:ld.U2 Z ()

mfdH;(Q Q a(/) O 'CL(<[.o

l-

:I0

Iw

Ok

U)

?Uim.0

m

a>'0

ss(1

o!

a)

Na'C:CLo

a0..m

'0

(Offi

Ca)

a8E

U)

U)

nartc

'a360

a)>(Off

a+3ayOC:(Dn

art+J

?C}:)(0

a:if

ffi

mEtn-l-C

(l).05a:a)?-=0.a)OJQ+-

§ ?C))m

a)nC:frCa-:':'u (@ ,U), 35o'i

-a)

V

ma0cffl

ffi(:nCa::)0(Jg

a)(/)<(!)

3

2

?;C0

a'?V

tp

E(!1

W

E

I

&-

a)Em

:E(Oll-5

m

(71m!Q.

ELLI

l

CNI'

S,0

(tl

Elo

S%:

.>(t!

C:QSE;as

CACl

C/)

bg)

:)6(l)

Q:

S,0

m

EsE

I.-a5S

0

U)

Qt:m

sffi

aJ:

6'

U)E0

C

ao

§?i o 3 ffiffjQ

Q=o ma ?Eo ?(3, 3D moi<r> B ,E. g B co .5?.A?o Jo 7=aa 8 V oc)?=.

) 0 ,? E/lt a :?5->E : aci?'o 4co ?c omo :?o2 c m e n .C aQ'v a B m -'W * ffi*E,==B!effim @ as o 2' Em €O E C, j ',:S!i' ?a??o?? "?oc to ?o,)+7 iU B .=a?o

tJ -.- -

?'W'? U 'm'c))Ac' ?ao'ao' mc" oa? €0, C C- (tl-.-aEc(jj-

n--@),(0.a- cQ5- pro "-oa: (6a) ,,oa?a 2..fl : m 15 a)-. 3 EOm-mt=:33'm =c 'ei E.'N ga=a? '% 'F?'e? ":Kj 'a'rs 'amA-":

Jc?.??m'8 'a?-c8 a':, .?ot oo',31 :ffio'': ??ao "@ .'E ;.-"

0 -: o@) a6 l 03 B (/) ?..Cc,0. vv ??"-' C ?>= % j oo E ,: 5a'p IJ N LL B =:!! 4'

,,,m 'm A ow o'ifo o'cji,% ,-r .ai,,?"0' Ao ag;'":.. ."c-a?' !=, ?h.: L-;.7,m?(T =,:}5' U) €0p? ? '?9 .E '5

ir> ? 0) -? -?

..-,,J: O'aa: 5?' W "Oj' f% @o '!" 'o.

C'Q((Q,9 ,(i B ffi 6,-, 0 ,§

,zh=a) :§o. ?t?ff -7ua) g'i=s-E>(3> B?" =(:?c f0? ?w"?aa o?0? B,'

j:C:Mfi

>@ B Q.c 0?0--a)art C m l- O>O' oc =tu :? v? e?, :p @) (6 c 0€'f=""5'z

0 f y TJ ' .C.-D a) m C o CE O s €CI (;@9? C715

@) .C. 3!,)t,'a:

o, o C 'CL E % E. C('i w .(u 'aai ? m e?. .mP o c 4 g .' E- e

omo ')o ;=o? )a'ns ?oo ,;-o c'>ol aaamE'C:c,' E .y E- ,ffl ('o-n Ej? cO oC>'- %?'- =m L?=- (!)" ?oo

mn

muCm

(Zcri€::

v:!<m

:a)

EC

a)>s

C!)

?2va

:)Crart

0?orC

'Eoao

(Xl-

a>

s

l

CQI-

.)<

!O'ea:l

sff

0CN

(0l.-

ia5:n

:§ E.€fl (3))>

%"

Man@gerne4it's Discussionand. g0alysisYear Ended June 30. 2015

= MJefferson CoiPublic Sdh

Shaping the Future

Introduction

Our discussion and analysis of the Board of Education of Jefferson County, Kentucky (the "District") financial performance provides an overview of the District's financialactivities for the fiscal year ended June 30, 2015. The intent of this Management's Discussion and Analysis ("MD&A") is to look at the District's financial performance as awhole. It should be read in conjunction with the District's financial statements.

Financial Highltghts

Serving over 100,000 students, the District is the largest in Kentucky and the 28th largest in the United States. We maintain 156 schools and education centers: 89 elementary,23 middle, 18 igh, 10 special education, and 16 others. The financial position of the District remains strong and stable w'th an operating budget of $1.4 billion.

The District maintains its focus on student achievement. Our students and teachers continue to win awards and reach new goals in numerous academic areas. The student-teacher ratio in elementary schools was 16.2 to 1, middle schools 16.8 to 1, and high schools 16.7 to 1.

2014-15 2013-14 Change 2014-15 2013-14 Change

Couege scholarships earnedStudents t?g AP testsNumber of tests taken

AP scores eamig college credit

$172 million

6,308

9,77747.O%

$145 million

5,635

8,875

49.O%

18.6%

11.9%

10.2%

-4.1%

Nurnber of teachers

Teachers w'th Master's Degree or higherNational Board Certified Teachers

Student daily attendance rate

6,65382%

380

94.0%

6,63084%

330

94.3%

0.3%

-2.4o/o

15.2%

-0.3%

On the District-wide financial statements, the assets of the District exceeded liabilities by $149. 7 million. The District's total net position increased by $5 .0 million for the fiscalyear ended June 30, 2015. The District's govermnental funds financial statements reported combined ending fund balance of $223.6 million. Of this total, $57.8 million isunassigned in the general fund. However, due to economic uncertainty, along with the needs of specific instmctional priorities, it is necessary to maintain adequate fund balanceto support these initiatives.

Overview of the Financial Statements

The annual report contains:

Management's Discussion and Analysis ("A4D&A")District-wide financial statements and fund financial statements

Notes to Financial Statements

Other required supplementary information, including statements for nonmajor governmental and fiduciary funds

Maiia=ement's DiscussioiiMalqagemell?and AnalysisYear Ended June 30 2015

? MJeffersonPublic Si

Shaping the Future

This amiual report consists of a series of financial statements. The District-wide statements, the Statement of Net Position and the Statement of Activities, provide an overvievvof the District's finances. The fund financial statements and govermnental activities statements tell how these services were financed in the short term, as well as, what remainsfor future spending. The fund financial statements also report the District's operations in more detail than the District-wide financial statements by providing information aboutthe District' s most significant funds. The remaining statements provide financial information about activities for which the District acts solely as a trustee or agent for the benefitof those outside of the District.

Reporting the District as a Whole

The Statement of Net Position and the Statement of Activities

Our analysis of the District as a whole begins with the District-wide financial statements. One of the most imporkant questions raised about the District's finances is whetherthe District as a whole is better off or worse off as a result of the year's activities. The Statement of Net Position and the Statement of Activities repork information about theDistrict as a whole and about its activities in a way that helps answer this question. These statements include all assets and liabilities using the accmal basis of accounting, whichis similar to the accounting used by most private-sector organizations. All of the current year' s revenues and expenses are taken into account regardless of when cash is receivedor paid.

These two statements report the District's net position and changes in them. The District's net position, the difference between assets and liabilities, are one way to measure itsfinancial health. Increases or decreases in the District's net position are one indicator of whether its financial health is improving or deteriorating.

To evaluate the District's overall health, revievv other non-financial factors, such as changes in the District's property tax base and the condition of the District's school buildingsand other physical assets.

The District-wide financial statements are divided into two categories:

* Governmental activities: Most of the District's basic services are reported here, including instruction, student support services, instructional staff support services,administrative support services, school administrative support services, business support services, transportation, and plant operations and maintenance. Property taxes,occupational taxes, the Commonwealth's Support Education Excellence in Kentucky ("SEEK"), other Commonwealth support, and state and federal grants finance mostof these activities.

* Business-type activities: School Food SenAces, Adult Education Lifelong Learning Courses, Tuition-based Pre-School, fee-based Day Care, and the Challenger CenterFlight Simulator Enterprise Program are considered as business-type activities of the District. A fee is charged for these activities to assist the District in covering thecost of these services; therefore, they are classified as business-type activities.

s

Mana=ement's DiscussionMaltagiand An.alysisYear Ended June 30 2015

F?a?PiA>lic Si

Shaping the Future

Reporting the District's Most Significant Funds

Fund Financial Statements

Our analysis of the District's major funds provides detailed information about the most significant funds-not the District as a whole. Some funds are required to be establishedby State law and bond covenants. However, other funds are established as needed to help control and manage money for particular purposes or to show that it is meeting legalresponsibilities for using certain taxes, grants, and other money (for example, grants received from the federal and state govermnents). The District's two kinds of funds,governmental and proprietary, use different accounting approaches. The District also uses fiduciary funds, which are separate funds from the governmental and proprietaryfunds described above. These funds :me not included in the District-wide financial statements, but are described below.

Notes to the Financial Statements

The notes provide additional information that is essential to a full understanding of the data provided in the District-wide and fund financial statements.

Governmental funds: Most of the District' s basic activities are reported in governmental funds, which focus on how money flows into and out of those funds and the balancesleft at year-end that are available for spending. These funds are reported using accounting methods called modified accrual accounting, which measiu'es cash and all otherfinancial assets that can readily be converted to cash. The govermnental fund statements provide a detailed short-term view of the District's general government operations andthe services it provides. Governmental fund information helps you determine whether there are more or fewer financial resources that can be spent in the near future to financethe District's programs. We describe the relationship (or differences) between the governmental activities (reported in the District-wide Statement of Net Position and Statementof Activities) and governmental funds in a reconciliation following the fund financial statements.

Proprietary funds: When the District charges students or parents for the services it provides, these services are generally reported in proprietary funds. Proprietary funds arereported in the same way that all activities are reported in the District-wide Statement of Net Position and Statement of Activities. In fact, the District's proprietary funds arethe same as the business-type activities we reported in the District-wide financial statements but provide more detail and additional information, such as cash flows, for proprietaryfunds.

Fiduciary funds: Fiduciary funds are used to account for resources held for the benefit of parties outside the District. These fiinds are not reflected in the District-wide financialstatements because the resources of these funds are not available to support the District's own activities or pro@ams. The basis of accounting for fiduciary funds is similar tothat of proprietmy funds.

6

Maiiasement's Discussioii+viaiiagiand An.alysisYear Ended June 30 2015

?M ,JeffersonPublic Sr:th

Shaping the Future

The District as a Whole

The following is a summary of the District's net position:GovemmentalActffihies

2015 2014

Currentandotherassets $ 328,218,792 $ 354,484869

Capkalasse(s,netofdepreciation,andcons(mctioiiinpiogress 678,901262 663,085.232

TotalAssets 4007,120,054 1017,567,Dl

Deferred Outflows 33,301465 290,707,238

Shoit-term liab+lmies 136,691645 141322,0880(her]iabaies 738,830,321 496,336,134

To ta l Lia bilitie s 875,521966 637,658,222

Deferred Inflows 35,282,059

NetPoskion

kivestedicaptralassets,netofielateddebt

Restricted

Unrestr'c(ed

Total Net Position

255,725,3]9 256,413,828 16,825,680

78,544,164 73,11127

(204,65 1989) (239,942,390) 2,351547

$ 129,617,494 $ 89,642,565 $ 19,177,227

Busiess-tye Activmies2015 2014

$ 10,200,827 $ .11251728

21,!03,761 22,000,938

31404,588 33,252,666

969,364 1028,[4

1300,906 1328,306

11,036,644 4,378y08?

12,337,550 5,706,387

859,175

16,617,456

11,956,937

$ 28,574,393

2015

$ 338,419,6]9

700,105,023

4038,524,642

34,270,829

137,992,551

749,866,965

887,859,516

36,141234

272,550,999

78,544,164

(202,300,442)

$ 148,794,721

Total

2014

$ 365,733,597

685i086170

i,oso,s 19,767

291735,352

142,650,394

500,714,215

643,364,609

273,03 1284

73,?71,127

(227.985,453)

$ 118,216,958

7

Maiia=ement's DiscussioiiMaltagemen{and An?alysisYear Erwjed Jurm 30 2015

?ra? .JeffersmPt?blic Si

Shaping the Future

The following is a surmnary of the District's changes in net position:

Govemmen(alAct#hffis

2015 2014

Busiess-(@e Actffi#ies2015 :iox 2015

Total

21W

Revenues

ProgmmrevenuesCharges forservLe

Opem(% gmn(s &contributions

Generalrevenues

Localtaxes

Sta(e sources

Other

Total Revenues

ExpensesSchoolopemtion &admmistrationSchoolfood sennces

Otherbusiness-type actMl*shiterest on debt service

TotalExpenses

Change in net position

Governmental Activities

$ 586,509

107,749,095

587,030,439

588,622,050

11629,986

1295,618,079

4273,690,610

16,244,178

1289,934,788

$ 5,683,291

$ 902,489

111648,818

567,698,286

466,864,796

14696,048

1158,810,437

1133,89641)4

14,825,786

lJ48,72?890

$ 10,088,547

$ 7,120,266

53,716,102

3,132J42

63,968,510

$ 9,299,977

45,615,744

:iio:is,eiob

57,954,327

$ 7,706,775

161465,197

587,030,439

588,622.050

W,762,128

1359,586,589

62,583,212

1932,405

W0,835

64,656,452

$ (687,9421 $

1273,690,610

57,760,670 62,583,212

2,OK),466 1932,405

180,221 16,385,013

59,951357 1354,594240

(1997,030) $ 4,995,349

$ 10,202,466

157,264,562

567,698,286

466,864,796

14,734,654

12 ?6,764,764

1133,896,D4

57,760,670

2,0?0,466

15,006,007

1208,673;247

$ 8,091517

The revenues in the govermnental funds increased by $136.8 million. Most of this increase was from an accounting change further described in Note M, causing other staterevenues to increase $123 million over the prior year. An increase in real estate property tax rates resulted in an increase in total tax collections for the fiscal year ending June30, 2015 of $9.1 million, while the improving economy resulted in occupational taxes increasing $7.3 million.

Expenses in governmental activities increased by $141.1 million. The maj ority of this increase was due to adding pension expense as required by an accounting change describedin Note M. Additionally, instmction expenses increased as a result of salary increases and increased cost of fringe benefits, most notably pensions.

8

Maiiaeement's Discussioiilvlanagtand AllYeat Ended June 30 2015

alysis ?M .?Public S(

Shaping the Future

The following schedule provides a comparison of the District-wide revenues for governmental activities for the current and previous years:Rewnues 2015 2014 Ch an ge

Local Sources :

PropertyTaxes $ 397,722,644

OccupationalTaxes 139,825,242

OtherTaxes . 49,482,553State Sources:

SEEKProgram 277,043,057

Other State Revenues and Grants 311,578,993

KSFCCauocation 8,171,637

Grants(federalandlocal) 99,577,458

Interest 1,389,755

OtherSources 10,826,740

TotalRewnues $ 1,295,618,079

$ 388,628,855

132,569,312

46,500,119

270,658,773

196,206,023

7,638,789

104,010,029

1,663,952

10,934,585

$ 1,158,810,437

$ 9,093,789

7,255,9302,982,434

6,384,284

115,372,970

532,848

(4,432,571)

(274,197)

(107,845)

$ 136,807,642

% (Ihange

2.3%

5.5%

6.4%

2.4%

58.8%

7.O%

-4.3%

-16.5%

-l.0%

1 1.8%

Revenue Sources

[:l Grants - Federal and Local -7.7%7.7oA

N SEEK Program - 21 .4%

30.7o/.':>q qnril.Q-lo [] Other State Revenues and Grants -

24. 7%

[J Occupational Taxes - 1 0.8%

W Other Lool Taxes - 4.8%

lO.El%24.7%

[:l Property Taxes - 30.7%

9

Mana:ement's Discussioiiivtanagiarid An.,alysisYeat Ended June 30 2015

>un KFkU t? .Jefferson Cmi

Public Sdh

Shaping the Future

The following summary is a comparison of total District-wide expenses for governmental activities:

2015 2014 Chanp ChanpExpenses

Instmction

Student support services

Instmctional staff support services

Distrid administrative support services

School administrative support services

Business support services

Plant operations and maintenance

Transportation

Coimnunity services

Other instrudional support servicesMiscellaneous

Interest

$ 729,319,975

60,064,328

133,254,466

7,711,286

94,277,648

33,236,652

108,222,195

87,973,527

16,012,870

34,945

466,078

16,244,178

$ 633,177,394

50,729,048

118,955,171

6,972,822

84,150,967

38,844,491

103,975,188

84,374,237

9,134,416

10,000

553,066

14,825,786

$ 96,142,581

9,335,280

14,299,295

738,464

10,126,681

(5,607,839)

4,247,007

3,599,290

6,878,454

24,945

(86,988)

1,418,392

15.2%

18.4%

12.O%

10.6%

12.0%

A4.4%

4.l%

4.3oA

75.3%

249.4%

-15.7%

9.6%

Total Expenditures $1,286,818,148 $1,145,702,586 $ 141,115,562 12.3%

2.5%

/?0.0/O

Expense Categories

2.6%

0.6%.

56.7%

22.4%

10

W Instmction - 56.7%

N School-based support - 22.4%

[] District administration - 0.6%

[:l Business services - 2.6%

N Plant operations and maintenance -8.4%

0 Transportation - 6.8%

N Miscellaneous - 2.5%

Maiiaxement's DiscussioiiMalqagiand An.alysisYear Ended June 30 2015 Shaping the Future

Business-type Activities

Operating revenue of the District's business-type activities decreased $2 .2 million. School Food Service revenue decreased $2.1 million, as the District implemented communityeligibility, a program where entire schools in areas over a certain percent of impoverished students may receive free meals. This reduction in operating revenues was offset byadditional federal grants funding the program. Adult Education, Tuition Preschool, and Daycare Operations revenues remained stable. Enterprise Programs revenues increased$.1 million as additional programs were added to this fund.

General Fund Budgetary HigMghts and Future Budgetary Impucations

The District's Draff Budget is presented to the members of the Board of Education by January 31 each year, followed by a Tentative (Original) Budget by May 30, and, oncethe members of the Board of Education approve tax rates in September, the Working (Final) Budget is submitted to the Kentucky Department of Education by September 30.

General Fund revenues were $8.3 million over budget, while expenditures vvere $110.4 million under budget. Revenues exceeded budget due to a significant increase in on-behalf payments related to the Kentucky Teachers Retirement System in excess of funds budgeted for this purpose. Instruction expenses and plant operations and maintenanceexpenses fell short of budget as a result of budgeted positions that became vacant for part of the year, school funds that are permitted to carry forward to the subsequent schoolyear, and some operational expenses where the District over-budgeted due to refunds or lower-than-expected cost of operations. As a whole, our General Fund decreased fundbalance by $.7 million. As discussed further in the T .ocal Fconomic Outlook section on page 14, the local economy is in a period of slow growth.

Our Constmction Fund experienced a $14.9 million decrease during the year. Tbis was due to prior year bond proceeds being spent on 2014-2015 constmction projects. BuildingFund decreased $6 million during the year as funds were used for planned constmction projects. On whole, our Construction Fund and Building Fund are well stmctured forfuture capital needs. We anticipate our revenue stream remaining stable for routine activities into the future.

In accordance with the requirements of Govermnental Accounting Standards Board Statement number 68, Accounting and Reportingfor Pensions, the District has recorded itsproportionate share of certain financial factors of the pensions in which its employees participate. These factors include certain inflows and outflows of funds wich 'w'll beamortized over future years and net pension liability. The very nature of the net pension liability indicates that these pensions have not been fully funded, whether by employeecontributions, employer contributions, or investment earnings. Although the District has always paid its entire contribution based on rates determined by each pension and muchof the responsibility falls on the state, the need to shore up these pensions may become a factor in future employer match rates or state funding.

11

Maiiaeement's DiscussioiiManagtand An.Year Ended Jura 30 2015

,alysisJefferson (,ounty

Public Sdxx*/?

Shaping the Future

Capital Assets and Debt Adniinistration

Capital Assets

At the end of June 30, 2015, the District's investment in capital assets for its governmental and business-type activities was $700.1 million, representing an increase of $15million (net of depreciation), as shown in the following tables:

Gowrnrnental activities :

Lind

Land improvemen?sBuildings and impmvernentsTechnologyBuses and vehicles

Fumiture, fixtures and other

Constmction in progress

Total

Less : accumulated depreciation

Govemrnental assets net of depreciation

June 30, 2015

$ 29,266,802

38,805,380

1,137,212,567

90,054,340

97,075,127

53,998,827

23,255,056

1,469,668,099

790,766,837

$ 678,901,262

June 30, 2014

$ 29,023,021

36,998,200

1,105,393,391

87,507,927

94,766,249

50,013,957

8,871,511

1,412,574,256

749,489,024

$ 663,085,232

Percent Change

0.8%

4.9%

2.9%

2.9%

2.4%

8.O%

162.1%

4.O%

5.5%

2.4%

Constmction in progress increased significantly as we continued major HVAC renovations including Southern High School, Fern Creek High School, Liberty High School,Dunn Elementary, Field Elementary, and Lowe Elementary.

12

Maiia=ement's Discussioii+viaiiagiand An,alysisveat Ended Jun0 30 2015

?rM ,JeffersmPublic Sd

Shaping the Ftgture

June 30, 2015 June 30, 2014 Percent Change

Business-type actiwties:Lind

Land improvementsBuildings and improvementsTechnologyBuses and vehicles

Fumiture, fixtures and other

$ 1,000,000

4,745

17,085,604

798,691

1,990,747

27,291,595

$ 1,000,000

4,745

17,067,854

830,439

1,891,985

26,656,997

0.l%

-3.8%

5.2%

2.4%

Total

Less : accumulated depreciation

48,171,38226,967,621

47,452,02025,451,082

1.5%

6.O%

Business-type assets net of depreciation $ 21,203,761 $ 22,000,938 -3.6%

Total Capital Assets Govemmentaland Business-type activities $ 700,105,023 $ 685,086,170 2.2%

Business-type activities Technology equipment had increased during the year ended June 30, 2013 as School Food Services had completed a major upgrade of its technologyequipment due to a new point of sale system. These newer technology assets reduced our need for additions in the current year and are being depreciated in excess of assetreplacement. Additionally, School Food Services purchased new refrigerated delivery trucks.

District facility persomiel develop a long-range facility plan through evaluation of every building, identification of appropriate renovations, and analysis of demographic censusto determine future growth needs. All findings are shared with each school for review by staff, SBDM councils and PTA. Adjustments are made to the plan after the reviews.The long-range facili ty plan details the unmet needs for the District for the next four years. The plan is submitted to the Kentucky Department of Education for approval. AtJune 30, 2015, the iu'imet needs for the District totaled an estimated cost of $826.9 million.

Funding for these needs is typically provided from the General Fund, Constmction Fund or through Bond issues. Bond issues are paid with Building Funds (local s-cent propertytax), State Capital Outlay funds at $100 per student or the Kentucky State Facility Constmction Commission ("KSFCC") funds. To ensure continued academic success for ourstudents, we must provide a learning environment that is safe, functional, inviting and well-maintained.

Additional information on the District's capital assets can be foiu'id in Note D of this report. Information concerning bonds and long-term liabilities is in Note F of this report.

Debt Service Fund

At year-end, the District had approximately !5447.7 million in outstanding debt, compared to $463 .2 million last year. The District continues to maintain favorable debt ratingsfrom Moody's and Standard & Poor's.

13

Maiia:ement's DiscussionlVlaliagemen{and? An?alysisYear Endsxj June 30. 2015

?r MJeffersonPublic S(

Shaping the Future

Local Economic Outlook

The District is enj oying a period of gyowth in our economy-driven revenues, such as a 5.5% increase in occupational license taxes which are based on net profits and salariespaid witbin our jurisdiction, and a 4.9% increase in property valuations. Louisville maintains some resiliency by being a regional hub of many companies or industries. hiherentstrength can be found in the balance among the educational, health and social services, manufachu'ing, professional services, retail trade, tourism, insurance, and transportationsectors. Recently, Ford has completed a $600 million investment at one of their Louisville plants adding 1,800 jobs svhere they build the Escape. Additionally, Arnazon.comis opening a distribution center, an extensive theme park has opened, and two additional Ohio River bridges are being constructed, which will bring investment and additionaljobs to the area. This future growth is critical as Jefferson County's unemployment rate remains high at 6.8% as of June 2015, slightly below the state rate of 7.4% and abovethe national unemployment rate of 6.1% as of June 2015 according to the Labor Market Statistics provided by the Local Area Unemployment Statistics Program. JeffersonCounty property valuation assessments have shown 1 .3% growth for the 2014-2015 school year, continuing to grow for the third consecutive year since the downtum.

Jefferson County's central location, extensive transportation network and quality of life are factors in attracting and maintaining a healthy business community. Recently,Louisville was named one of the top ten New Brainpower Cities in Arnerica by Newgeography.com, a top-twenty market with economic momentum by Forbes.com, ranked inthe top Best Bank for Buck Cities by Forbes, named one of the ten "best large meh:o areas for homeownership" by NerdWallet, and named a "City to Watch" in the SmarterCities environmental survey. Additionally, our quality of life is demonstrated by being named among one of "America's safest cities for families with small children" byUnderwriters Laboratories Inc., "Best Foodie Getaways around the World" by Zagat, the fourth most "Photo-Friendly" city in America by Popular Photography Magazine, theUnited States' 40' most literate city by Central Connecticut State University, one of the top 25 "Bicycle-Friendly Cities" by Bicycling Magazine, and one of the "Most LivableU.S. Cities for Workers" by WomenCo.com.

Metro Louisville has many initiatives designed to increase the quality of life and stimulate the business environment. Having declared Louisville 'the City of Parks," MeboLouisville has embarked on an initiative to encircle the city with a continuous loop of hiking trails, and maintain its three Olmstead parks, 85-acre Waterfront Park and JeffersonMemorial Forest, the largest urban forest in the United States. Metro Louisville is also working to hire more police officers, and increase communication systems for its police,fire and emergency medical systems. Metro Louisville is assisting its fastest growing companies through Pro3ect High Impact, which assists these companies with various needssuch as hiring, real estate, and incentives, and is working on numerous economic development, housing, library expansion, and drainage and maintenance projects.

Overall, with many local and national businesses expanding their footprint in Jefferson County and excellent quality of life, Jefferson County's economy has the stabilitynecessary to minimize the impact of economic downtums.

Contacting the Jefferson County Board of Education Management

This financial report is designed to provide a general overview of the finances of the Jefferson County Board of Education and to show management's accountability for thesefunds. If you have questions about tis report or need additional information, contact the Chief Financial Officerffreasurer of the Jefferson County Board of Education, P. 0.Box 34020, Louisville, Kentucky 40232-4020.

14

?(l!d

C)F

-zO>mw wihOlhuOr y'D€50f-iVl W-m

WThOOl' NWl>OtNcN-w l/'11/'I6 ffl {N 4 '6N 10 ('IN

NVi

S' Th'l/l

$

(X5'

OsNc)l)

I>NW

4'('l

-tw)I-0('l

01%tN0 '.DCls000CThml'0 m*CD00't0€0 0a-mTh00SC6-tcS tF;CS{N4C;O<sxmlz >l>t'-z-w0% -41/i ('4 l'; t'l4 q 'J g

Os'N

gg§gW€

CN'UTh01)

S'

llall'-

l/'r(CrI'E

9?ll"l

11) 50 N';5 :!; $

m

Nl'

(Xi'

M v>i

a

'e

'5:'C

?'

J 't:=sE

8('i'0(N

M

l'l

W

S'

z

o's S Q -iOs % (,) IC)W -! Q l'-)

%; > QN 4 -w

fi -'r 0T) (% C)'e7 q Q

'.6

S(C}

Vl4l'n

mM0

€l'flI'-{:N'('IPdQffl' S'

171h

Thl/I50

l/II'

(Thl/IC)l)

0W€

UaVNIX)!

h 0 'el' l"i 0) 0% ot) fTh h In 0 ) Cj) V'i 0('l o; Q -4 Q -4 oq '(

-:' CN'Rt>* CIO-to 0 (%

l/l O l' (N l' >

C; 5% S 4 A 4IA 51' (N l' > H tnC; co S 4 A 4 ('J' (D?0 € (fi Vl (NN (D

g

l/IE

0

S('I

Vl(C)

Sl'l

lfi50-sl'-

l/Igl/IN60';?lf-QOQS.;0z

8 #gQ

INI/lt?-yEIO

-ei-:ml"llfi(N

S' m' #' ;'0 N lfl l'l'te :lfi ('l

06'(N

€ > O f (Nl-n f W € 0)W -: (Th N R; 0 i ;0) h l'- '10h (fl00 0

c; 'A q UaV5'Uaiq-zj

'e

z

UaiSCX)

OC?'sglJ]wO'6'6-s€l/}('Th' Vi'IN S

Os

m

4V'rISN

€lX-s-fOQ4 6 -'r(N N lfiPEE

S 6 -i7' g' g'

f(Th%N'

O;'N

LOff

E6

0z

;2

'a

Umm

(/)

JIJ

a

3tEE

QE

b

"ltm

E

!:l

!m

g

l/'l

0(N

6'l'fl

Es

(A

d

!!i 'ao a"g !WB o."< 111?Cl>a> 5r?-; -5 g 05..OCj(atii112,>aiJff'!Fj; ...i.i, 03 x o, 'aa"

'= U) a'H "aa> oasa ea' ="a''fflu w"'= :a" "g, ,, ?m,oa ao-o r-

-g ?>j3 Qu'o ???3. B> ?G aB 'R?

!lm111

?1p

e

nbQO' Ek';"..0e ?5n:a.lgaAo%o @ Er Q "oETh

i%g%%-5 ,?$ (11U!:

(im

2>

!

!iE

E

ffi

lim

g

% 9a(I)., o .P

31 !J

9E

..0O

,E EE s

el a44g>Om@,,>l?? IA 11) .- rh D

aiu ? B > E>om@,>p U) (/l O) 11>g+ E C- > ' >

!o Na l' o o j'ao 7'a i' o No j' 7.' =:4 0 § V j ; ; f ob g ; ; 'H %A;<<a 3 '1:€

'lo 'i ,'o F; U) 50

N ?N!s mX=3L? n 3

s "B e a'!@ a g Es- a,5 a2 a§ s 'Fa'!'Es'Cvi ' a .Ei% .C) 0 >

iEiga

ffi

Q(i-i

g:l?

d

..0

s

j" g 'eo g

Y. so .!e <, 4OC)

'-y

B ' a'Cl6 ; 3g,B 'a a'Cl ?= U)6 Tj j,?, ,2 w B

Is

E' Eo ,"aO ?aCt. =-m U) O ITI (Yv (1) w r> M!. > W@ > lj)', )El2Q

2

vsi

E

61110

Aii

2

3oS

u

U

:'jua

.affi

Q

U)

lk)d

C)2

C/l

? 19ie),o(;

e!ilX >?(g,,?*- djE

m'm'o'o'oa'm oo ty O Vl ; oo'oni6oowirivinS+r*hQ (l! W- t%l E- 19 Vl Vl 5Q @! Q o.Q (j * N 'O 'O vi v'i lx) Th 0 a.

ioa ;k, ; :' ;, M6 oaM fi ffl ;ea y6, '::"%, 0 na ?' < l'l O I' S ? $',? q ;' 4 3 E) 0 :

lli

(N

56

f

l)6

..J

'o : U'l S flo E U'l EIN > vs -(xi , , Yffia'-fflll'i

21Si

W

(N10

(N()l"l

INeem

!

flNln# m lfiE IN Vl

N llat INM tN mI'; ; gj% Th IJs

>64

Thfla'l

IIXThTh

--i

lNisrfla%lNas

2i

W M vii

unail:ii(}l11)l>lail*l€l

81a.i

iiilE (alE()i" 'wju.g' 4i% ort..[)l?'Olart l

uaO?() #i

ol(11 un

alll)iJE(/)lo

W

Vl

t-

V'i

tA

lt?

EW

Vi

lfi

..!

56

V?

S

O

@s0U'i

10(15

Vl

m g2 2 ta vs0. ," ffil, ffiM" . 'A (al '#

> -i 'D?

lh

tri c< o oo "la'o ? ? a- *'

+l>l'- .?! * 6 = Ql; ThaIN '@sa B '9 INIR ;' - '.oIn

N0

ID'

emlir?l

6lt?EYl!iEl

v*i

viiSil?-? iuior;isr

!:,l:'

;l.g 'qiv-d:?j,

a)

c-i

;,51S:":iE, ,Alti -()i> Ji:> <,

O

l)a

0

m(j5

l'l

W

ffV'?

NW

W

!

f N l'i* <r Vs

EINVIIN'/'IINMN(6; Q gS(Th'(ho : #tj

IN0Uai

!?

=wi-riiqi

'!lnl

CTh

Sa0le)

Th

ql'l(@

VX

E

!:J

IM =.==i IA 141(0ff

>

<r

E

e

m

(/)

>Jta:N*-l

E

2!9aEo

Qao

laJ

%%mo

g@

*??eau

Au(:i1

!mmo

E

!)

('1

0l'?

eE

)?'i

ThE

W

s

.?41'al T 'ji-l- E,03j

? S E.!!lo

Uai (e E E 01) IN ll'l 1% O lri tt) ol)

%S IN 4 m 7 i6 g) : .l's f. h.oo f v'l6 N 1% f I'- g,Th tll *

""m' :' 4n' :"?' 3' mTh' fi, =? ,g1 yM U'.o('l o -' t - . .

a% S ,,a '- ,,,aa W. ,a J'?> ?'? aj:?' I??a at?' 9 @'5a'

&"}

0)0)

!! ': 'H"t(: art O)"'11)DO .!)

? ffff g? z.

'E "l os av. ay 't 'a os

i E ,a. b-a .p. 7ga ll== Haa . ..an. 76 aa=iE-ov,,otg.!s Q () 11) .Q el m ? 4 0 E 6

a,a '0 ffia j ! E .Ho 'H j' art ! ; 7 5aHOe

ffi

l)a

f

W

IX)

'.0l)a

s

:Q

:

€8

>

H

h h > > nl-t vs z tq >iQ q q (; "J'et' 01)' k' V'l' O'!%l '.b o oo (l)jvi->yi

1!)

o

o

:5 ":ai. tt?= .au nam...=aaa'ap S T :'a" ffi e ?ffl a" offiC)t ",

'P}'#

'. M 'j 41 el O'ie' ?8 '?a..3 '! ',,'ao,a" E' .=9 EE3.E>

X)0@o B ? ,9 oJ- " E' ?H >O ! E # !l

410Qja'a O ':l E ?3 "l'"v<WSOE

ca

jQ>

01

A

.;6

€

o?

>

<

S

e

o

QMffia

.ffl,x

ZW

IU ','aalllB.Z

u

m

maD

@11 .B-Z etEEtdal

ul-iti ,gl

;a' o ea'

: giBffN?'j!

O

Ba

>

(:

i

o?

l::

'y

a

?

e

o

E

.ti

a0E'

o

111

>r

o

g

s

J5

i

Z

>l*a

e

a

Z

m

a

e

m

(/)

a

)j

Z

Balance Sheet - Governmental Funds

Board of Education of Jeffers on County, Kenhicky

June 30, 2015

General

Fund

Grants &

Awards

Fund

Construction

Fund

Total NomnajorGovernmental

Funds

Total

Governmental

Funds

Assets

Cash and cash equivalentsInvestments

Accounts and grmits receivable

Prep aid exp endituresInventories

Due from othcr funds

$ 174,018,131 $ 35,527,166

68,082,870

20,003,614 $ 17,634,842 73,198

4,203,103

3,704,679

36,713,088 22,661,025 68,990,115 $

TotalAssets $ 306,725,485 $ 40,295,867 $ 104,590,479 $

$ 209,545,297

68,082,870

37,711,654

4,203,1033,704,679

874,130 129,238,358

874,130 $ 452,485,961

Ijabilities

Accrued liabilities

Due to other funds

Total Ijabilities

$ 94,525,213 $ 969,996 $

92,992,391 28,705,723

187,517,604 29,675,719

9,066,826 $

2,569,055

11,635,881

18,677 $ 104,580,712

124,267,169

228,847,88118,677

Continued

17

Balance Sheet - Govermnental Funds-Continued

Board of Education of Jefferson County, Kenhicky

June 30, 2015

General

Fund

Grants & Awards

Fund

Constmction

Fund

Total NonmajorGovemmental

Funds

Total

Governmental

Funds

Fund Balances

NonspendableRestricted

Committed

AssignedUnassigned

7,907,782

36,000,000

17,456,000

57,844,099

10,620,148 92,954,598 855,453

7,907,782

104,430,199

36,000,000

17,456,000

57,844,099

Total Fund Balances 119,207,881 10,620,148 92,954,598 855,453 223,638,080

Total Ijabilities and

FundBalances $ 306,725,485 $ 40,295,867 $ 104,590,479 $ 874,130 $ 452,485,961

Reconciliation of Total Governmental Fund Balance to Net Position of Governmental Activities

Total Govemmental Fund Balances

Amoums reported for governmental activities in the statemmt of net assets are different because:Capital assets are not financial rcsourccs and are not reported in the fund financial statements.Bonds are noncurrent liabilities and are excluded from the fund financial statements.

Savingp from refunding bonds are not current and are not rep orted in the fund financial statements.Long-term workers compensation liability is noncurrent and is excluded from the fund financial statements.Long-term vacation pay liability is noncurrent and is excluded from the fund financial statements.Long-temi sick leave liability is noncurrent and is excluded from the fund financial statements.Bond Merest payable is a noncurrent liability and is excluded from the fund financial statements.Net p ension liability is noncurrent and is excluded from the fund financial statements.Deferred outflows from p ension contributions after measurement date are excluded from the fund financial statements.Deferred inflows from dMerences between projected mid actual p ension earnings are excluded trom the tund statements.

$ 223,638,080

678,901,262

(443,295,919)

(5,766,059)

(19,793,836)

(6,370,149)

(40,879,980)

(3,879,278)

(256,722,092)

33,301,465

(29,516,000)

Net Position of Governmental Activities $ 129,617,494

See Notes to Financial Statements

18

S tatement ofReve nue s , Expendhure s a nd Cha nges ;rn Fund Balanc es- Govemmen(alFunds

Board of Education of Jefferson County, Kentucky

YearEndedJune 30,2015

Geneml

Fund

Gmnts&

Awa rd s

Fund

Cons(mction

Fund

TotalNonmajorGovemmental

Funds

Total

Govemmental

Funds

Revenues

Localsoui?es

Propeny(axesOccupaiional(axes0 th e r ta xe s

Grants from localagencies and donors

$ 365,574,681139,825,24249,482,553

$ 8,435,955

$ 32,147,963 $ 397,722,644139,825,24249,482,553

8,435,955

S(a(e sources

SEEKpmgmmOtherstate revenues

KSFCC allocation

267,901,401

187,441,090 34,228,8089,141,656

8,171,637

277,043,057

221,669,898

8,171,637

Gmnts fromthe Unijed S(ates government 91,141,503 91,141,503

iteies}

Othersources

1,151,761

7,634,870

3,252

2,950

$ 234,742

489,649 3,527,4621,389,755

11,654,931

TotalRevenues 1,019,011,598 133,812,468 724,391 52,988,718 1,206,537,175

Expe nditure skistmction

Studentsuppoitservices ,kistmc(ionalstaffsupponservicesDistrictadmiishat#e supponservicesSchooladministiative suppoffservicesBusiness suppoitservicesPlant opemtions and mai(enanceTm n s p o rta tio nCommunityservicesOtherinstnictionalsuppoitservicesBuflding renova(ionsO(her

Debtserice

P*c:alkiteres(

553,492,618

50,170,141

93,493,757

3,987,782

86,582,157

38,77?,374

107,531,470

76,919,959

2,540,172

27,404

886,842

18,892

72,605,803

3,728,451

43,102,030

86,339

124,654

1,353,317

299,232

3,895,603

7,245,627

96,499

3,009,041

46,146,672

447,?86

104,204

3,737

29,914,485

16,034,197

626,202,625

53,898,592

136,595,787

4,074,12?

86,706,811

40,124,691

10 7 ,8 3 4 ,4 3 9

80,815,562

9,785,799

27,404

47,130,013

3,475,119

29,914,485

16,034,197

TotalExpenditures 1,014,422,568 135,546,596 46,593,858 46,056,623 1,242,619,645

19Continued

Statemem ofFlevenues, Expendkures and Changes in Fund Bahnces

- GovemmentalFunds--Contiued

Board of Education of Jefferson County, Kenhicky

YearHndedJune 30,2015

Geneml

Fund

Gmnts&

Awards

Fund

Cons(mc(in

Fund

TotalNonmajorGovemmental

Funds

Total

Govemmental

Funds

Revenues in F.xcess of

(Less Than) F.xpenditures 4,589,030 (1,734,128) (45,869,467) 6,932,095 (36,082,470)

OtherFinancing Sources (Uses)Proceeds ofrevenue refiindmg bondsRe fund% schoolbuildjng revenue bondsPmceeds ofschoolbui!jig revenue bondsPremtums on bonds sokl

Discoun(s on bonds sokl

TransferstoPioprie(aryFundsTmnsfeisi

Tmnsfem ou(

(3,118,393)

(2,343,316)

1,753

2,343,316

57,915,000

(57,915,000)16,465,000

6,797,556

(4,6 16,706)

15,964,380

(3,603,567)

35,173,067

(47,533,880)

57,9 15,000

(57,915,000)16,465,0006,797,556

(4,6 16,706)(3,116,640)

53,480,763

(53,480,763)

Total0therFinancingSources (Uses) (5,461,709) 2i345i069 3 1,006,663 (12,360,8 13i 15,529,210

Net Change in Fund Balances (872,679) 610,941 (14,862,804) (5,428,718) (20,553,260)

Fund Balances, Beginning of Year 120,080,560 10.009,207 107,817,402 6,284,171 244191,340

FundBalances,F.ndofYear $ 119,207,881 $ 10,620,148 $ 92,954,598 $ 855,453 $ 223,638,080

Reconciliation of the Stateme nt of Revenues, F.xpenditures and Changes in Fund Balancesof Gove rnmental Funds to the S tatement of Ac tivities

Net Change m Fund Ba Ia nce s - Tota lGove rome nta lFundsA mounts reporte d forgove mmentalac ttvirts : rh e sta Iemenr of acttvities are cHffere nt be cause

Addhions to c apka la ssets c apha lize d on distnc (- wMe s(a(eme nt ofnet posnion.Disposkins ofcapkkalassets are reflec(ed on (he skakement ofachvkis.Cap'nalassei use is expensed as depreciaiin on the statement ofactffihies.Bond pric ialpayme nts a re rec orde d a s a reduc (ion ofa ha bay on the state me nt ofnet posffion.Bonds issued are capkalmed on the s(atemen( ofnetposkmn.Cap#a Uze d savjngs from bond re fundigs must be amonme d ove rihe re ma mig Me ofthe bonds.hisumnce expenses to be paM i fumie years are reflected on the siatemem ofneipostjon.Bond interest payabb is reflec(ed on (he fiuuaccmalbasis on the s(atemen( ofnetpos#jon.Long-termworkers c ompensatin &bMy mcreased on the district-wide financmlstatemen(s.Long- te rm va c anon paya ble de ci? a se d on the dist* t-wMe fina nc ialstate ments.Long-term sick )eave payab)e decreased on the dffit*(-wide financialstatements.Pension expense rep+sents the cos( ofprovMtng hng-(erm beneis on the s(aiemem ofactmkffi s.The pension e xpe nse forKTRS is e nti b) the re sponsfltfliky ofthe Commonwe a kh ofKenmc kyP roraefe rre d outfkiws from c omributions afte rme a suremen( da{e a re on the dis(ri (-wide s!ate me nt ofne( pos#jon.

$ (20,553,260)

75,148,659

(9,140,023)(50,192,606)29,9 {4,485

(15,378,885)

(5,986,521)297,662

(209,981)853,216

191,466

(2,5 19,432)(119,952,049)89,909,09533,301,465

Change in Net Positio n of Gove rnme ntalAc tivities 20 $ 5,683,291

See No(es to the FiancialStatemen(s

oldOF

O

g4ql qOPh€l M(%lq'g*l 'D-z' --o (%l- - I "-- l-m

:i :l i'/}t'

Th'llalOa

>J

P5a'OQflp

C),EO@5' @)Zl.Ql,,iQ

,ds :,p,/0o

W Eo

ZEtH d l/'l'?ms ? -d

'0" (NC%-m'jj@6E3 "H("lU Q yH d. ,?"a € A

,(/l()a'CjaA C!:j€CE fll62-

zl-ma't=llEil 3 -j;=il(.. ot,,i ?

,g

:la'Cl&I8

ffi

o6

.J:Q

c/l

M

%

lnln'xt?-Qfi

(NCThV'l0

-'rV'; 6l>-: (D-mf <D

e?}

P O 0%llal (N 0)-z 0 00

fK {XS fiFk-t-t-:('J

0

00

O

l/i'(0P

f

lm")

Wm

t?0

yC) chI Ch;S oorl A100% (ftl P(Neft Ol Q

(,; :1 10

a

h

l/il/i

8

8

ffi

S

VlmmVi(NQNCJ'sF<OsCJs-i

Vi' -Q'

'.0(0(N6N

N'

-i l/'i D f eN F '<-z (N In 010 In -i ttiQ (N Q oq ('4 0 ;

(N N

ci' (? 5' S' vi' CN' o6"j f E ,-l E Oi (Nt4'sffCsl>-* -z

00€NE

Vi'Vi

$

REIn

l/'iS%'N'l/ig

B?E. r:, ,=:. "?ah, y==g W :,('6 'f M 16S fsf

0CDSci'lan(OS'Vi

hM'('l!/10)('-%?%i?

?

l'n

O

m

m

('l

R

S'00'%0g

01U?

ViD

Th'm

S'h?

Os'?

M (lri

()a'ci

:"-Bl-jel';'s5i(4is (f3

?

'/iO

Ch'?

'?

Mr

m

l/10ffl

Osm

?

E f > (Th (N N 01) 1%m m-i-i c%l (N (N cslH f-10 tn Th E ('0?) 6 '6 4 & C5 -: tK;09't E'f -(0?) 6 '6 41% % fq'im ?

9l/')('6?

-tl'-(j

'?

0

e'lh

l'-ffif

C)0101l/11

Sl(?-il'l

/?M' (Nl/ImS-:S'O

N

Q

'/10(N

("lm

h

'.Cr('lN

O'Vi0

("lEE

'?

64)i

:la'd&l3

gffi

ooJC/)

Vim

(N

(>'eNQ

Vi

Vi?€N

0';'NOi

l/i

-m 01-i E 't' N f 0) 'fh 0 0) 0(fi E N 00 ('l')O <:Jz Q €N Q 0%4 Q Q (:

(" D Os 'e Cfl ('- D 00> OQ N Y m p -z06CA'-fi S

Mm

(fi'€NE

F

hOC}

8r'6's6Vig

'j)j ":3 o'M aaaa9. o"% 'a";= oo9S 'f (O l?A (fr€'f

Nlhl(Nlo61ViI.?

m

OC)0

m

m

?

000

a-l

(:hle;l

?ViE

(NCTh

Chm

m

>'m

$l/11',61('11sOs'm

M 'EA

;)%

.Ej !

(/) 3

E 2

?'C}

g a':n g ?% 1 EW(4@n-'a ?E(4@HS'bwa.i '? '7."' s 'E lfi? 11) (l) -z,;'b r '6oR ,,.% [email protected]&gOQ . 6 ('l11)','5

v,>' a2 !%Ej

Ba>RdIJ ,:j

'3N j ;j- o:s %- a'a11) @mE3E ae DB? 2 ?> ?7!' oa'C/)E>

U)(/l(l) (p U)

a? ?7 Bol'ai (/) e

a' 5a!j! o, g<i,i o; =gy +-i @m -a @H- Q .,mO =t

-IE!H

Ea

zabEEelW

oijgS

'E

E

,=s 4o lBjg

}aoEEm

o

4

E86R

oSo

k

3g

W

(l)

E

#IQ --Ipj?5?d

BE

Ui..fNaWp

Q5';y:ib{iu(fc& 2E U?": Ae3')'; Co?E- 5"': G"': ;:oIL(7Eo2

EE

25J)BEm

i:Lz4Q

Y (6.Y= iiiE.%g,i8

aCl(il)g

?g ,2,g(qB :Q,e,Q:J:5!dE S-C)Bb

DUyI Cim lwlz(71(G4)EEr B @

%m

ER

S

i-gS

EoE?m

oEQm

7E

aDEmgQ

"E

m

B

m

m

lmo

'€

'fl

E

ffo6

Am

2

',C%J>N(mo

JEo

!El?ffi

eLm

2

E

WQ(ljd

C/)

-0am

.EELoQ

!

O2

C/)

'l ol i =l fll-j0 I'- h N lfilfiTh l'l'i tll @15I'-z f 0

-l -lml/l'l/j

lftIn

'P@z

Vl50 Cl's

@s Cfs N

(Th (%l mOs j? * N N

171 'D 0; i0l qv-ziri>l osoomThM1 Iq> ol!) Y q.l q- -' -- ?I -a

El-CTh l 0

??'? l ?H.H. l v'i.

l?

l'Oelifl0irimhool -z6' S' l/i' Ch' NW N Q Q. hm W t' ()

(A

('I 0 0 t'l h

(; 0 -m ;O'tfi€-h.-

lfi

p * os qsO r (NCl's-h-f .

l/j W I'

r (N F'-1%('l

('-WC)0

Ch

Qti #

S'N

&I')

WfS

l'("i-ffi(%l

N (N0 0In Vl

ffilllal l/jB?

R

ES

54' ?< B?5(s,Egi.0 .gagi011)

:Z 'EI-f::

41 s ,(1)!1.0 WB?g

eflh 0('l

(Nlfl g4' l 4'r l r

ii?l

01) W N Os

l' l' 6 (0 l/'?

Th '.0 l/'i E-l -l '-l

h 1%W 00

'!I 'Al

NNCts

INel'l

;l Qi0 0 (%lIA l/1 z

WfS

('-(q#

N

In Vl01) W0 0

I/i lfi

v>i

Q u Q u Q

@')CN

J

j

2b€ EEou

0E

?eiz oa-?: 111Iml,C!(1)E'bg5(lil

. ' i lfi!jo O

3EQ -@

('l

OB5OJ(i-i :e r-sO IJ;1 -l:l0 )j -6i-a r IDd0aaQ,E!J'a

B. E (grZa€:;

s

.E1360

IA

tm

2'

!IN Nj. 1.0 tuB!IH

IU 1-1js, oE1o

0

J

-;

.B

N€(-d

lfj(q4hl/1

&t')

Vll'l

('

(f}

0000

@sE

Ellaj

m ; S ? ly F;' ; lfi Sf l"l ml'fi lfi Wr M oo M * -z S 5C) S S z(% tt'? o O 'D -z r> O l'l m m

orS" 6' .-s' > '-o' -z v (- 0 0rs ?N = .z ta. 0% p. = y p. Vl .w

In ? Ol:)% q (? M 3."(N N N

CTh' in' m lfi? ? I' C>-w 0 w 6

Vi Os l/r Vi?? ? Vi 'D

(Th' 1% m' 6' f moo r- 3(N 6 -ioo cl's > S R4' 4' -w m *(O l/I (D Q. 0

'f;(D y 6 4y ? Th Cl%

< m m Nl'fi l'fi oa Ch

('- l'l'l O -:Ct5 E -l MIN In .m Q-w y 0% 'a

IN N N

V'? 0 l"i('Ifl'-IX) Th I'-

f€

M E In-zOs'('l

S'

In

('-01)01)

Th#

tts -i nlfi W t'0(110 l'-

Th' -Q' m'V{ -m (Nl/I (Th -Q

N (N (N

M M &l)

M &I')

:j

.i'EO

-0g

CL6'

(li

j0

C

O'y0

E

Ei

-5(Z

>J

EE

26gsEB

s

%tmo

Es!imeJ

jli-mo

1

eaoE

l/'i

0(%l

0('l

A

EQ

ffl

>

J11)

um

J

41

E ao " M ! J e € r: 1 'W 2 '= Q,: :.-- ;o-':a=a ?';o :lf o: :o ?ao" 'j o:lo '::a J'o' ?'y' aa ','@Gell

nk

g €, :3 :G Ei 8 ! E"o 'ffi]= '&. l(i k t t t t G t %!!

o- a a ; 6 6 6 6 6 a t' 6z.W

51 §(,l Q '-sr

ouQ. ago, 3u@d>

-m

a!;!*mmIJ

<

E

mml.;

e!i

o4

R

E

Z

s

A'

1

aEa9

@

&

u

Q

Z

a9

a-Ei<

E

-;E

E

EJ

E

Z11-a

@

>

ssE

<U)lim '-I

lt

o

?;

fJ ,%gm

Xdug%6(pE

E 'Th'- ffiag?lm

l-l(l)EJ4)ulm

O?&a5ro"u 4?

%I"OY

PdE

SQm

C7)

!i.Ei

..E

o

Q62

8

+N

? 0 (/l:55'!, s s@ a> C-S 'E" l<Q

r> oo y <r? (% -i C)

.Q' N' 16' m'm -z * 'eChOF'tti('fj(h'6 m

El?W

(fi

0

Th

(n('fl5i/il/l (fiioSO*0#(lTih

-l56'

EVl00)

+i("l

o'-l

(Th

M M M rhl

mi

??R(gP

E*??:!

:!?Rm

@F LO

N

>m'*6

E

.=26

a, §25-E53

22E6

?C}11);a?I !Q:rE§mwg

%mno

.4g

.;,;jZ a,2 a',Q E l/lO 'fi -

r<O? la? ?1

Y

aO)

.> 41:I!(j(':l(j

ga u'ch O<nD

Jao(a *.l @ -im=

?iti a'avm >-ff oo>-os!i q > o >B' U !l < !l<'

a:jo

U)I.i

,(L) bJ)j?4?y::a

'7 0 :J<Om

:J

u

EajE€u

Co

?'a

{Em

.E;?

O

(4

0

2a*

C/l

Notes to FinaiicialStatementsYeat Ended June 30 2015 Shaping the Future

Note A- Summary of Significant Accounting Poucies

Reporting Entity-The Board of Education of Jefferson County, Kentucky (the "District") is established under and governed by the Kentucky School Laws and maintairisa system of schools primarily for kindergarken through twelfth gyade, but also including pre-school, vocational and adult education. The District is a school district of theCommonwealth of Kentucky having boundaries coterminous with the boundaries of Jefferson County, excluding the City of Anchorage.

The accompanying financial statements include all funds and activities of the District, including the Jefferson County School Board Finance Corporation (the "Corporation"),a non-stock, not-for-profit Corporation. The Corporation was created to act as an agency in the acquisition and financing of any capital project which may be undertakenby the District. Accounts of the Corporation are included in the financial statements as a capital projects fund.

The District is not includable as a component unit within another reporting entity. Board members are elected by the public and have decision-making authority, the powerto designate management, the responsibility to develop policies which may influence operations and primary accountability for fiscal matters.

Accounting Standards-The financial statements of the District have been prepared in conformity with generally accepted accounting principles ("GAAP") as applied togovernment units. The Govermnental Accounting Standards Board ("GASB") is the accepted standard-setting body for establishing governmental accounting and financialreporting principles.

District-wide and Fund Financial Statements-The District-wide financial statements (the Statement of Net Position and the Statement of Activities) displayinformation about the reporting government as a whole. These statements report information on all the activities of the District, except for the fiduciary funds. Thedoubling-up effect of interfund activity has been removed from these statements. Govermnental activities, which normally are supported by tax revenues, are reportedseparately from business-type activities, which rely significantly on fees and charges for support.

The Statement of Activities demonstrates the deyee to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are thosethat are clearly identifiable with a specific function or segment. Program revenues include: 1 ) charges to students or parents who purchase, use, or directly benefit fromgoods, services, or privileges provided by a given function or program; and 2) grants and contributions that are restricted to meeting the operational or capital requirementsof a particular function or program. Taxes and other items not properly included among program revenues are reported instead as general revenues. The Districtallocates certain indirect costs to be included in the program expense reported for individual functions and activities in the District-wide Statement of Activities.

Separate financial statements are provided for governmental funds, proprietary funds and fiduciary funds, even though fiduciary funds are excluded from the District-wide financial statements. Major individual governmental funds are reported as separate columns in the fund financial statements.

Continued

26

Notes to FinaiicialStatementsYear Ended Jur+e 30 2015

=rM' .Jefferson OoiPublic Sd?i

Shaping the Future

Note A-Summary of Significant Accounting Policies-Continued

Measurement Focus and Basis of Accounting-The District-wide financial statements are reported using the economic resources measurement focus and the accrual basisof accounting, as are the proprietary fund financial statements. The fiduciary fund financial statements are reported using the accmal basis of accounting. Revenues arerecorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues inthe year for which they are levied. 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 accmal basis of accounting. Each fund is aseparate accounting entity with a self-balancing set of accounts. Revenues are recognized as soon as they are both measurable and available. Revenues are considered tobe available when they are collectible during the current period or soon enough thereaffer to pay liabilities of the current period. For this purpose, the District considersrevenues to be available if they are collected w'thin 60 days of the end of the ciu'rent fiscal year. Expenditures generally are recorded when a liability is incurred, as underaccmal accounting. Hovvever, debt service expenditures, as well as expenditures related to compensated absences and workers' compensation claims, are recorded onlywhen payment is due.

Revenues susceptible to accrual are property taxes, interest revenue and charges for services. Occupational tax revenues are not susceptible to accrual because generallythey are not measurable until received in cash.

Funds are classified into tmee categories: governmental, proprietary and fiduciary. The District reports the following major governmental funds:

The General Fund is the District's primary operating fund, which accounts for all of the activities of the general government not required to be accounted for in anotherfund. Local taxes account for of the General Fund revenues, while the Support Education Excellence in Kentucky ("SEEK") program accounts for of General Fundrevenues. SEEK is a program that began in 1990 as the result of the Kentucky Education Reform Act ("KERA"), and is basically the method by which state funding isobtained.

The Grants and Awards Fund is a special revenue fund which accounts for the activities of specific education related programs in accordance with restrictionsestablished by the various grantors (primarily the United States Govermnent and state and local governments). This includes certain KERA grants which carry grantorrestrictions related to expenditures.

The Construcaon Fund accounts for funds from three sources. First, funds generated by sales of bond issues are used for various constmction projects at educationalfacilities. Second, proceeds from the sale of properties and equipment owned by the District are to be used at the discretion of the District for future construction projects.Last, any funds remaining in the Capital Outlay and Building Funds at the end of the year are escrowed to pay for categorical priorities listed in the Long-Range FacilityPlan, discussed on page 13 of the MD&A.

Continued

27

Notes to Fi?naiicialStatementsYeat Ended June 30. 2015

ad'7F*Jeffierson CorPublic Sdh

Shaping the Futurae


Proprietary Funds distinguish operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from providingservices or producing and delivering goods in connection with a proprietary fund's principal ongoing operations. Operating expenses include the cost of sales andservices, administrative expenses, and depreciation of capital assets. All revenues and expenses not meeting this definition are reported as non-operating revenuesand expenses. The District reports as a major proprietary fund the School and Community Nutrition Services ("Food Service") Program which provides certainfood preparation at the Nutrition Center and serves breakfast and lunch at schools throughout }efferson County.

Fiduciary Funds are used to account for assets held on behalf of outside parties or on behalf of other funds within the District. This fund consists of agency fundsfor various scholarship programs administered by the District on behalf of the third-party donors, and agency funds held on behalf of student organizations andsegregated among elementary schools, middle schools and high schools. Since fiduciary funds are held on behalf of others, these funds are excluded from theDistrict-wide financial statements on pages 15-16.

Cash and Cash Equivalents-The District considers demand deposits, money market funds, and other investments with an original maturity of 90 days or less, to be cashequivalents.

Inventories-Inventories are valued at the lower of cost, using the first in, first out method, or market. Generally, the only inventory items marked to market are diesel,gasoline, and items determined to be obsolete with no current market value. The Food Service Fund's inventories consist of food and supplies valued at cost and U. S.Govemment commodities whose value is determined by the U. S. Department of Agriculture.

In the govermnental funds balance sheet, reported inventories in the general fund are equally offset by a fund balance reserve which indicates that they do not constitute"available spendable resources" even though they are a component of total assets.

Continued

28

Notes to FinaiicialStatementsYear Ended June 30 2015

:M .Jefferson CouiPublic Sdx>

Shaping the Future

Note A-Sununary of Significant Accounting Policies-Continued

Capital Assets-Capital assets include land, buildings, vehicles, office equipment, school equipment, and food service equipment, and are reported in the applicablegovernmental or business-type activities column in the District-wide Statement of Net Position. The District maintains a record of its capital assets, and those with a costof $1,000 or more are capitalized. All computers, regardless of cost, are capitalized. Additions to capital assets are recorded at cost and depreciated using the straight-linemethod. The District has elected not to capitalize interest on debt used to finance buildings. Capital assets are depreciated over estimated useful lives as determined by theKentucky Department of Education, as follows:

Land improvements

Buildings

Building improvements

Carpet/tileTechnology equipmentSchool buses

Other vehicles

Rolling stockFood service equipmentFurniture and fixtures

Audio-visual equipment

Other general equipmentMusical Instmment

Estimated life (years)20

50

25

7

s

10

s

15

12

20

15

10

10

Estimates-The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptionsthat affect reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts ofrevenues and expenses during the reporting period. Actual results could differ from those estimates.

Continued

29

Notes to Fi?naiicialStatementsYear Ended June 30. 20t5

Note A-Summary of Significant Accounting Poucies-Continued

Fund Balance--Under GASB statement 54, fund balance is separated into five categories, as follows:

Category Defu'iition

Nonspendable Permanentlynonspendablebydecreeofthedonor,suchasanendowrnent,oritemswhichmaynotbeusedforanotherpurpose,such as amounts used to prepay future expenses or already-purchased jnventory on hand

Legauy restricted under federal or state law, bond authority, or grantor contmct

Comtnitments passed by the Board

Funds assigned to management priority including issued encumbrances

Funds available for future operations

=s€*Jefferson CoiPublic Sdh

Shaping the Ftdure

Re5tricted

Comtnitted

Assigned

Unassigned

Cate6ory District PurposeNonspendable Prepaid expenses

Inventory on hand

Grant or donor-directed funds

Bond proceedsFunds governed by specific state laws

Cash flows protection

Encumbered purchase orders

Funds available for future operations

Committed

Assigned

Unassigned

Restricted

General Grants &

Fund Awards Fund

4,203,103

3,704,679

10,620,148

36,000,000

17,456,000

57,844,099

Constmction

Fund

92,954,598

NonmajorFunds

611,741

243,712

PurposeTotal

4,203,103

3,704,679

11,231,889

92,954,598

243,712

36,000,000

17,456,000

57,844,099

Continued

30

Notes to Fi?nancialStatementsYear Ended June 30 2015

Je? CoixrtyPublic SdxxJs

{fE3!h.Shaping the Future

Note A-Summary of Significant Accounting Poucies-Continued

It is the District's practice to liquidate funds when conditions have been met releasing these funds from legal, contractual, District, or managerial obligations, usingrestricted funds first, followed by cormnitted fiinds, assigned funds, then unassigned funds.

Encumbrances are not liabilities and, therefore, are not recorded as expenditures until receipt of material or service. Encumbrances remaining open at the end of the fiscalyear are automatically re-budgeted in the follow'ng fiscal yeax. Encumbrarices are considered a managerial assigmnent of fund balance in the governmental funds balancesheet. Board policy 04.31 grants this authority to the Superintendent or the Superintendent's designee. The Superintendent has granted fund balance assignment authorityto the Director of Purchasing.

Statutorily, the Kentucky Department of Education may assiune financial control over any school district whose fund balance drops below 2% of the total expenditures ofcertain funds. To maintain balances above this level, they recommend reserving at least 5%. The elected Jefferson County Board of Education committed funds to ensurefund balance remains above these levels. While these funds have been properly committed and not budgeted for future years' expenditures, there is no mandate on how thecommitted funds would be used if the District fell below the 2oA floor.

Property Tax Revenues-Property taxes are levied each November on the assessed value listed as of the prior January 1 for all real and personal property in JeffersonCounty. The billings are considered due upon receipt by the taxpayer; however, the actual due date is based on a period ending 30 days affer the tax bill mailing.

On-Behalf Payments-The Commonwealth of Kenhicky pays certain expenses on behalf of the District. In the financial statements, these payments are recorded as anexpense and other state revenue. These expenses include the following:

Health insurance

KTRS employer matchHRA, dental, vision, and life insuranceState administration fee

Re?urs ement from federal programsState facility constmction supportTechnology systems

2014-15

$ 104,727,393

86,611,458

5,014,443

1,279,639

(8,864,359)8,171,637

508,579

2013-14

$ 99,685,357

69,421,126

5,124,366

1,098,119

(10,283,450)7,638,789

489,487

$ 197,448,790 $ 173,173,794

Budgetary Principles-The Superintendent must submit the proposed budget for all funds other than school-based activity funds (agency funds) to members of the Boardeach year. The Board Members will then discuss and, where so desired, amend the proposed budget and w'll adopt a final budget by September 30 of each fiscal year. Anyadjustments to the adopted budget must be approved by the Board.

Continued

31


2 MJe? CoiPublic Sd>

Shaping the Future

Note A-Summary of Signtficant Accounting Policies-Continued

Budget information is presented for the General Fund and other funds with a legally-adopted budget. This budgetary data is prepared on the modified accmal basis ofaccounting, in accordance 'w'th generally accepted accounting principles. Budgetary revenues represent original estimates modified for any adjustments authorized by theBoard during the fiscal year. Budgetary expenditures represent orig'nal appropriations adjusted for budget transfers and additional appropriations approved during the fiscalyear. Although budgets are prepared on a line-item basis by cost center for each department, expenditures may legally exceed budget in these areas but may not exceed thebudget in total.

Interfund Receivables and Payables-Each fund is a separate fiscal and accounting entity, and thus interfund transactions are recorded in each fund affected by atransaction. Interfund receivables and payables for the District arise generally from two types of transactions: 1 ) all funds are initially received into the General Fund, thusa payable and receivable are established in the appropriate funds; and 2) payments are from the General Fund checking account, which may not have the legal liability forthe expenditure, thus a payable from the fund having the legal liability is established at such time. Typically, interfund receivables and liabilities are reso}ved monthly, andall of these balances should be resolved within a year. All interfund receivables and payables have been eliminated on the District-wide Statement of Net Position.

Due from otherFunds Reportedin General Fund

Due to other

Funds Reportedin General Fund

Special Revenue FundConstmction Fund

Nonmajor Govemmental FundsFood Service Fund

Nonmajor Enterpris e Funds

$ 28,705,723

2,569,Oss

5,392,084

46,226

$ 22,661,025

68,990,115

874,130

467,121

$ 36,713,088 $ 92,992,391

Continued

32


=WM' .Jefferson OoiPublic Sdc

Shaping the Fututae


Transfers to Other Funds-Although each fund is its own distinct reporting entity, periodically, funds have cause to transfer their revenues to other funds. The mostcommon reasons necessitating interfund transfers are for debt service payments and grant matching funds. Debt service payments may be paid from revenues in the CapitalOutlay Fund, Building Fund, Construction Fund, Food Service Fund, or one grant w'thin the Grants & Awards Fund, but the expendi;ures are recorded in the Debt ServiceFund with transfers recorded to keep the funds in balance. At times, the District receives grants which require an amount of matching funds. Usually, General Fund suppliesthis match offset by transfers to the Grants & Awards Fund. The following is a schedule of the District's transfers during the year:

Transfers from

other funds

Trmisfers to

other funds

General Fund

Special Revenue FundConstmction Fund

Nonmajor Govemmental FundsFood Service Fund

Nonmajor Enterprise Funds

$

$

$

2,345,069

15,964,380

35,173,067

2,911,081

207,312

56,600,909 $

5,461,709 Food Service facilities rent forgiven, and grant matchigGrant matching fundsDebt service payments and escrowed funds used for constmctionDebt service payments and escrowed funds used for constructionFacilities rent forgiven by General Fund

1,753 Lossfromoperationsmadeupbyotherfiindsandgrantmatch

56,600,909

3,603,567

47,533,880

Pensions-For the purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, pension expense,information about the fiduciary net position of the Kentucky Teachers Retirement System and the County Employees Retirement System and -additions to/deductionsfrom these pensions' fiduciary net position have been determined on the same basis as they are reported by those pensions. For this purpose, benefit payments (includingrefunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.

Note B-Cash, Cash Equivalents and Investments

The District's deposits are maintained in six designated financial institutions. Deposits at all these financial institutions are entirely insured by federal depository insuranceor by collateral held by the financial institutions in the District's name, as is required by the District's investment policy though custodial credit risk -is not specificallymentioned in this policy. During the year, the District invests excess cash into short-term United States Govermnent obligations or bank certificates of deposit coljateralizedby U.S. Govemment securities. These investments are either insured or securities are held by the pledging financial institution's tmst depmtment in the-District's name.

Continued

33

Notes to FinaiicialStatementsYear Ended June 30 2Cll5

:M' .Jefferson CouiPublic Sdx>

Shaping the Future

Note B-Cash, Cash Equivalents and Investments-Continued

In compliance with Kentucky Statutes, the District's investment policy 04.6 specifies that the District' s investment objectives, in order of priority are the following:a. Safety of principalb. Liquidity to enable the District to meet all operating requirementsc. Return on Investment

The complete investment policy 04.6 is available at http://www.jefferson.kl2.ky.us/Departments/GeneralCounsel/Districtpolicy0702.pdf. Investments consist ofcertificates of deposit and U.S. Govermnent agency securities. The certificates of deposit are held by various schools' activity funds in the Fiduciary Funds at severalfinancial institutes located in Jefferson County, Kentucky, and have various rates of interest and maturity dates greater than ninety days. Such investments are statedat fair value as of June 30. These investments are covered by depositor insurance or by collateral held by the financial institutions in the District's name. The U.S.Govermnent Securities also have maturities greater than ninety days and their value has been adjusted to the fair value. As of June 30, 2015, the District had thefollowing investments:

Fund Type Investment Type Fa#Value

Moody's

RatingWeighted Average

Maturity in Years

Govemmental

Agency

Federal AgenciesCertificates ofDeposit

$ 68,082,8701,017,478

Aaa 4.18

1.17

$ 69,100,348

GASB No 40, Deposits and Investment Risk Disclosures, requires the District to address the following risks related to its investments:

Credit Risk-Credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. In an effort to minimize the likelihoodthat an issuer will default, the District has limited the number of permissible investments under its investment policy to certain highly rated investments. sr accordancewith this policy, the District is authorized to invest in the following:

a. Obligations of the United States and of its agencies, national corporations, and instmmentalities, including repurchase agreementsb. Certificates of deposit issued by banks or savings and loan institutionsc. Bonds or certificates of indebtedness of the Commonwealth of Kenhicky and of its agencies and municipalitiesd. Securities issued by a state or local government, or any instmmentality of agency thereof, in the United States, but only if fully defeased by direct obligations of or

guaranteed by the United States of AmericaInterest bearing deposits in national and state banks chartered in Kentucky and insured by an agency of the United States up to the amount so insured, and in larger

amounts providing such bank shall pledge as security obligations having a current quoted market value at least equal to any uninsured deposits.e.

Continued

34

Notes to FinaiicialStatementsYear Ended Jurie 30 2015

=rd7P?Jefferson CoiPublic Sdh

Shaping the Fututae

Note B-Cash, Cash Equivalents and Investments-Continued

Custodial Credit Risk-Custodial credit risk is the risk that, in the event of the failure of the counterparty, the District will not be able to recover the value of itsinvestments or collateral securities that are in the possession of an outside party. All investments held by the District are insured or collateralized with securities heldin the District's name. The securities held as collateral are maintained either by the Federal Reserve or in the trust area of major national banks.

Interest Rate Risk-Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. The District manages itsexposure to declines in fair value by purchasing a combination of cash holdings, shorter-term, and longer-term investments. The District's investments in federal agencysecurities are callable instruments and parkicularly carry this form of risk. The District has no formal policies relating to interest rate risk.

Concentration of Credit Risk-The District' s investment policy places no limit on the amount the District may invest with any one issuer; however, all holdings mustbe collateralized with securities held in the District's name. As of June 30, 2015, the District had $2,000,000 of deposits insured by the Federal Depositors InsuranceCorporation and $1 96,954,778 of deposits that were uninsured but collateralized by securities held in the District's name.

Note C-Receivables

The District recognizes revenues as receivable when they are measurable and receipt is certain. Concentration of credit risk w'th respect to the receivables from federaland state governments is limited due to the historical stability of those institutions. While the District receives revenues from many different outside sources throughoutthe year, the accounts and grants receivable from outside sources may be grouped into the following categories:

Govemrnental ProprietaiyFunds Funds TotalAccounts andgrants receiwble

from outside sources

Accountsreceivable $ 928,400 $ 1,470,941 $ 2,399,341Taxesreceivable 19,148,412 19,148,412Grantsreceivable 17,634,842 22,872 11657,714

$ 37,711,654 $ 1,493,813 $ 39,205,467

Federal and state grants to be used or expended as specified by the grantor are recognized as revenue and recorded as receivables as qualifying expenditures are made.

Continued

35

Notes to FinaiicialStatementsYear Ended June 30. 2015

Note C-Receivables-Continued

'2 h? .Shaping the Future

The following is the District's property tax calendar:

Date Event

January 1, year of levy Assessment date

October 1, year of levy Taxes levied

November 30, year of levy 2% discount allowed

December 31, year of levy 1% discount allowed

January 31, following year Gross amount due

February 1, following year Delinquent date, 1 !/2 % interest added per monthApril 1, following year 1 0oA penalty added

Unpaid property taxes attach as an enforceable hen on real property as of the delinquent date. The ?efferson County Clerk' s Office collects personal property tax on vehicleswhen registered. The Jefferson County Sheriff's Office bills and collects all property taxes on real estate and other personal property on behalf of the District. Districtproperty tax revenues are recognized when levied to the extent that they result in current receivables.

Although the District has taxes receivable from a variety of constituents, a substantial portion of the debtors ' ability to honor this debt is dependent upon the widely diverseeconomic environment of the Commonwealth of Kentucky and the local area.

Continued

36

Notes to Fi?naiicialStatementsYear Ended June 30 2015

AWh'# lb'? .Shaping the Future

Note D-Capital Assets

Activity in capital assets during the year ended June 30, 2015 consisted of the following:

Balance

June 30, 2014 Additions Dispositions

Balance

June 30, 2015Gowirnmental Acti'fflties

Lind

Constmction in progress

$ 29,023,021

8,871,511

37,894,532

$ 243,781

23,255,056

23,498,837

$ 8,871,5118,871,511

$ 29,266,802

23,255,056

52,521,858

Land improvements

Buildings & building improvements

Technology equipmentVehicles

General equipment

36,998,200

1,105,393,391

87,507,927

94,766,249

50,013,957

1,374,679,724

1,930,559

31,819,176

9,198,657

4,014,606

4,686,824

51,649,822

123,379

6,652,244

1,705,728

701,954

9,183,305

38,805,380

1,137,212,567

90,054,340

97,075, 127

53,998,827

1,417,146,241

Less AccumulatedDepreciation

Land improvements

Buildings & building improvements


General equipment

23,249,599573,729,74261,981,896

65,553,754

24,974,033

749,489,024

1,146,516

30,822,732

9,615,121

5,652,904

2,955,333

50,192,606

134,382

6,480,439

1,703,911

596,061

8,914,793

24,261,733

604,552,474

65,116,578

69,502,747

27,333,305

790,766,837

$ 663,085,232 $ 24,956,053 $ 9,140,023 $ 678,901,262

Included in this table is current constmction in progress. Items are not depreciated until placed into service. Accordingly, these items have no accumulated depreciation.

Continued

37

Notes to Fi?nancialStatementsYear Ended Jur+e 30 2015

Jeffersm CouiPublic Sdx>

,, AFA=:R:?

Shaping the Future

Note D-Capital Assets-ContinuedBalance

June 30, 2014 Additions Dispositions

Balance

June 30, 2015Business-type Activities

Lind $ i,ooo,ooo $ 1,000,000

Land improvements

Buildigs & building improvements


General equipment

$ 4,745

17,067,854

830,439

1,891,985

26,656,997

46,452,020

$ 17,750

17,625 $

119,554

1,225,567

1,380,496

49,373

20,792

590,969

661,134

4,745

17,085,604

798,691

1,990,747

27,291,595

47,171,382

Less Accumulated Depreciation

Land improvementsBuildings & building improvements


General equipment

99

5,137,727

551,465

1,416,712

18,345,079

25,451,082

$ 22,000,938 $

237

344,088

186,411

86,750

1,511,215

2,128,701

(748,205) $

48,867

20,792

542,503

612,162

48,972 $ 21,203,761

336

5,481,815

689,009

1,482,670

19,313,791

26,967,621

Continued

38

Notes to FinancialStatementsYear Ended June 30 2015

:"!-M' .Jefferson OoiPublic Sd>

Shaping the Future

Note D-Capital Assets-Continued

Depreciation expense for business-type activities was entirely incurred in the operation of the District's school food services program. Depreciation for governmentalactivities is included in the following functional categories:

Instmction $ 40,321,343

StudentSupportServices 1,145DistrictAdministrativeSupportServices 3,216,346BusinessSuppoitServices 26,677PlantOperationandMaintenance 713,841StudentTransportation 5,766,774

CommunitySeiviceOperations 146,480

$ 50,192,606

Net Investment m Capital Assets-On the District-wide Statement of Net Position, capital assets from Note D and Long-term Debt represent material portions of theDistrict's net position. This calculation is as follows:

Govemmental Busiess-type

Capital assets, net of related depreciation $ 678,901,262 $ 21,203,761

School buildig revenue bondsLess: deferred savings fromrefunding bondsLess : bond proceeds not yet spent on capital projects

443,295,9195,766,059

(25,886,035)

4,378,081

$ 255,725,319 $ 16,825,680

39

Notes to FinaiicialStatementsYeat Ended Jur+e 30 2015

Note E-Long-Term Liabilities

School Buuding Revenue Bonds

2002 Series A, interest rates set at 5.5%, principal and interestpayable serrffannuauy on January 1 and July 1, with maturities through 2022

2004 Series B, interest rotes set at 4.O%, principal and interest

payable serniannuauy on May l and Novernber 1, with maturities through 2016

2005 Series A, interest rates ranging from4% to 4.375%, principal and iterestpayable serniannuauy on June l and December 1, with maturities through 2016

2006 Series A, interest rates ranging from4.l25% to 5.O%, principal and mterestpayable semiannuauy on July 1 and January 1, with maturities through 2016

2006 SeriesB,jnterestratesrangjngfrom3.625%to4.75%,principalandinterestpayable semiannually on Decernber 1 and June 1, with maturities through 2026

2007 SeriesA,interestratesrangingfrom4.125%to4.75%,prmcipalandinterestpayable semiannuauy on Decerrher 1 and June 1, with maturities through 2027

2008 SeriesA,interestratesrangingfrom3.1%to4.l%,principalandinterestpayable semiannually on March l and Septernber 1, with maturities through 2028

2008 Series B QZAB, non-interest bearing and fuu bond liability due atmaturity in December 2022

2009 Series A, interest rate of 5.25%, principal and interest payable semiannually on

July l and January 1, with maturities through 2019

2009 SeriesB,iterestratesrangingfrom2.75%to3.0%,pricipalandinterestpayable semiannuauy on Febmary l and August 1, w'th maturities through 2018

Jefferson CoiPublic Sch

=r MShaping the Future

Original

$ 35,095,000

Outstandig

$ 24,840,000

40,345,000 5,705,000

21,155,000 70,000

41,000,000 3,720,000

20,000,000 1,055,000

500,00019,970,000

9,905,000 7,565,000

5,200,000 5,200,000

32,515,000 16,305,000

3,010,0008,400,000

Continued

40

Notes to FinancialStatementsYear Ended June 30. 2015

Note E-Long-Term Liabilities-Continued

2009 SeriesC,interestratesrangigfrom3.O%to4.O%,principalanditerestpayablesemiannually on August 1 and February 1, with maturities through 2019

2010 SeriesA,jnterestratesrangingfrom2.O%to3.5%,principalandinterestpayablesemiannuauy on October 1 and April 1, with maturities through 2021

2010 SeriesB,interestratesrangingfrom2.0%to2.5%,principalandinterestpayableserniannuauy on June 1 and Dece?er 1, with maturities through 2022

2010 SeriesCQSCB,jnterestrate5.l25%,principalandinterestpayablesemiannuallyon May l and November 1, with maturities through Novemoer 2029

2011 SeriesAQSCB,interestrate4.650%,principalanditerestpayablesemiannuauyon June l and December 1, with maturities through June 2026

2012 SeriesA,iterestratesrangingfrom2.O%to3.375%andinterestpayablesemiannuauy on March l and September 1, with maturities through March 2032

2012 SeriesB,interestratesrangigfrom2.O%to2.6%andjnterestpayablesemiannuauy on July l and January 1, with maturities through January 2024

2012 Series C, interest rate l.9%, principal and interest payable semiannuauyon March 1 and September 1, with maturities through September 2024

2012 SeriesD,interestratesrangingfrom2%to3.125o/oprincipalandinterestpayablesem'annuauy on October 1 and April 1, with maturities through October 2032

2013 SeriesA,iterestratesrangingfrom2%to2.375%principalandinterestpayablesemiannuauy on June 1 and Decernber 1, with maturities through October 2025

'2 rb'?*

Shaping the Future

Outstanding

16,820,000

Origial

39,580,000

10,350,00013,705,000

16,170,000 13,560,000

27,483,00027,483,000

29,886,00030,352,000

12,150,00013,850,000

18,095,00020,510,000

18,125,00018,730,000

27,010,00027,235,000

22,205,00022,860,000

Continued

41

Notes to FinaiicialStatementsYear Ended Ji.ine 30 2015

Note E-Long-Term Liabiuties-Continued

2013 SeriesB,interestratesrangingfrom2%to4%principalandinterestpayablesemaannually on July l and January 1, with maturities through July 2026

2013 SeriesC,interestratesrangigfrom3%to5%pricipalandinterestpayablesemiannuauy on November l and May 1, with maturities through November 2033

2014 SeriesA,iterestratesrangigfrom2%to5%principalanditerestpayablesemiannually on November l and May 1, with maturities through May 2025

2014 SeriesB,iterestratesrangingfrom2%to5%principalanditerestpayableserniannuauy on October l and April 1, with maturities through October 2020

2015 SeriesA,interestratesrangingfrom3%to4.75%principalandinterestpayablesem'annuauy on October 1 and April 1, with maturities through October 2035

2015 Series B, interest rates set at 4% with principal and Merest payablesemiannuauy on December 1 and June 1, with maturities through October 2026

Jefferson CountyPublic Sdxxf>

?Shaping the Ftdure

Original

35,550,000

Outstanding

34,600,000

33,005,000 32,855,000

42,890,000 42,545,000

21,630,000 21,630,000

16,465,000 16,465,000

36,285,000

$ 499,610,000

Bonds outstanding as of June 30, 2015, are reported in the accompanying District-wide Statement of Net Position as follows:

Current Long-Term Total

$ 28,231,655 $ 415,064,264 $ 443,295,919

1,038,345 3,339,736 4,378,081

$ 29,270,000 $ 418,404,000 $ 447,674,000

35,925,000

$ 447,674,000

Govemmental activities

Business-type activities

Continued

42

Notes to FinaiicialStatementsYear Ended Ji.ir%e 30 2015

qd;'hJeffersm OoiPublic Sdh

Shaping the Fututae

Note E-Long-Term Liabuities-Continued

The School Building Revenue Bonds listed below are subject to redemption prior to their stated maturity dates at the option of the Board. The redemption prices include apremium of 1 % to 3% of the outstanding principal amounts. The earliest allowable redemption dates for each Series are as follows:

2002SeriesA January2022 2009SeriesC Febmary20l9 20l2SeriesD October20222004SeriesB May20l4 20lOSeriesA Aprn2021 20l3SeriesA June20232005 Series A June 2015 2010 Series B June 2022 2013 Series B July 20232006SeriesA July20l6 20lOSeriesC November2020 20l3SeriesC November20232006SeriesB Decernber20l6 20llSeriesA June2021 2014 Series A May 20242007SeriesA June20l7 20l2SeriesA June2022 20l4SeriesB October2020

2008SeriesA September20l9 20l2SeriesB June2024 20l5SeriesA April20252009SeriesA January20l9 20l2SeriesC September2024 20l5SeriesB December20262009 Series B Febmary 2018

In connection with most of the above listed bond issues, the District has entered into participation agreements with the Kentucky School Facilities ConstructionCommission (the "Commission") which provides that the Commission will remit a stated amount of bond principal and interest payments annually, subject to biemiialapproval by the Kentucky General Assembly. Should approval not be received in future periods, the District remains obligated for the full amount of the bondprincipal and interest payments.

Assurning no issues are called prior to scheduled maturity and continued Commission participation, the minimum obligations of the District at June 30, 2015 fordebt service is as follows:

Year EndingJune 30

2016

2017

2018

2019

2020

2021-2025

2026-2030

2031-2035

$

Pr'ncipal

29,270,000

29,970,000

30,900,000

32,030,000

26,230,000

118,765,000

130,369,000

50,140,000

Interest

$ 13,513,103

12,430,154

11,291,785

10,069,314

8,885,345

32,362,628

16,317,306

5,090,463

$

Total

Repayments

42,783,103 $

42,400,154

42,191,785

42,099,314

35,115,345

151,127,628

146,686,306

55,230,463

Less:

Comrnission

Participation

9,449,814

9,451,325

9,449,924

9,391,728

7,918,202

31,789,466

18,935,627

10,957,371

$

Net

Repayments

33,333,289

32,948,829

32,741,861

32,707,586

27,197,143

119,338,162

127,750,679

44,273,092

$ 447,674,000 $ 109,960,098 $ 557,634,098 $ 107,343,457 $ 450,290,641

Continued

43

Notes to Fi?naiicialStatementsYear Ended June 30. 2015

Jefferson? CountyPublic Sd?s

d/'?.Shaping the Future

Note E-Long-Term Liabiuties-Continued

All bonds issued by the District vvere revenue bonds or refunding bonds of revenue bonds, and the proceeds were used to constmct or renovate schools and other facilities.The bonds payable are collateralized by the educational facilities constructed by the District with bond proceeds. Bonds are repaid principally from state revenues in theCapital Outlay Fund and local revenues in the Building Fund. General Fund revenues are available to pay for debt service but have not been needed for this purpose.

Although defeased, the funded debt will not be actually retired until the call dates have come due or until maturity if they are not callable issues. As of June 30, 2015, theoutstanding principal amount of indebtedness that is considered to be extinguished under "in substance defeasance" and therefore excluded from the District-wide financialstatements was $129,989,000.

On August 14, 2014, the District issued $$21,630,000 of 2014B School Building Revenue Refunding Bonds refunding the 2006C School Building Revenue Bonds,achieving a net present value interest savings $2,090,910 (gross savings $2,162,939). On March 30, 2015, the District issued 36,285 ,000 of 201 5B School Building RevenueRefunding Bonds refunding $18,23 0,000 of 2006B School Building Revenue Bonds and $18,055,000 of 200 7A School Building Revenue Bonds. This bond achieved a netpresent value interest savings $3 ,101 ,445 (gross savings $3,811,102).

Qualified School Construction Bonds-The District has issued two taxable Qualified School Constmction Bonds with direct payment to issuer. As part of this program,the District pays interest to the purchaser at taxable interest rates and receives a refund from the US Department of Treasury for our interest payments. The accompanyingofficial bond statements specify that the District will make payments, which will be held in tmst for the so}e purpose of redeeming the bonds held by the bondholders atmaturity. Accordingly, as principal payments are made, both the cash held in trust and the payments made into the tmst will be excluded from the District's assets andliabilities, respectively.

On December 23, 2008, the District issued $5,200,000 in Special Obligations School Financing Bond Series 2008B as a QZAB to finance capital projects at Cane Runand Shacklette Elementary Schools. On December 23, 2009, the District began making annual payments of $371,429 to an escrow account at a local bank. Suchpayments are being held in tmst and invested at an interest rate of 6.O% in accordance with the funding agreement. The final annual payment is due December 23, 2022,at which time the QZAB will mature and the principal w'll be paid in full from the escrow account.

Estimated Liability for Workers' Compensation Benefits-The estimated liability for workers' compensation benefits consists of claim settlements for reported andoutstanding claims and estimated claim setklements for incurred but not reported claims (based upon istorical experience and an actuarial study). Estimated claimsettlements for incurred but not reported claims are discounted at 6% over the anticipated payment periods to reflect the time value of money. Tis liability, along withcertain related assets and liabilities, is accounted for within the Workers' Compensation Tmst Fund, which is a self-insurance fund administered by the District for thepurpose of providing workers' compensation insurance to employees of the District.

The District maintained reinsurance covering that portion of risks in excess of $1,000,000 for any one occurrence with a $500,000 deductible for the year ended June 30,2015. The limit is subject to audit by the District's insurer. The District remains liable to the extent that claims are less than the amount of reinsurance coverage or if thereinsiuing company is unable to pay its portion of claims. Workers' Compensation liability is charged against the same fund from which each employee's salary is paidwhen liquidated. The majority of these liquidations are made from General Fund, Grants and Awards Fund, and School Food Services Fund.

Continued

44

Notes to FiiiaiicialStatementsYear Ended June 30 2015

2 MJefferson CoiPublic Sd')i

Shaping the Future

Note E-Long-Term Liabuities-Continued

Accrued Vacation Pay and Sick Leave-In accordance with generally accepted govermnental accounting principles, the District has recorded accrued vacation pay andaccmed sick leave as long-term liabilities in the District-wide Statement of Net Position. Accmed vacation pay, which may be accumul ated for a period of up to two years,is payable upon termination of employment. Accrued sick leave, which has no maximum accumulation, is payable upon retirement at 30% of the value of accumulatedsick leave. Both accmed sick leave and accmed vacation pay liabilities are charged against the same fund from which each employee' s salary is paid when liquidated. Themajority of these liquidations are made from General Fund, Grants and Awards Fund, and School Food Services Fund.

Balance

June30,2014 Additions Dediictions

Balance

June 30, 2015Gowrnmental Activities :

School building revenue bondsEst?ted liability

for workers '

compensationbenefits

Accmed vacation payAccmed sick leave

$ 457,831,519

21,558,493

7,823,606

38,973,261

$ 74,380,000

4,999,134

5,241,047

10,453,214

$ 88,915,600 $

5,856,301

5,566,467

8,011,823

443,295,919

20,701,326

7,498,186

41,414,652

$ 526,186,879 $ 95,073,395 $ 108,350,191 $ 512,910,083

Business-type Actiwties :School building revenue bonds $ 5,383,481 $ 1,005,400 $ 4,378,081

45


]OF'rh

Shaping the Future

Note F-Retirement Plans

The District's employees are provided with two pension plans, based on each position's college degree requiremer>t. The County Employees Retirement System coversemployees whose position does not require a college degree or teaching certification. The Kentucky Teachers Retirement System covers positions requiring teachingcertification or otherw'se requiring a college degree.

General information about the County Employees Retirement System Non-Hazardous (?CERS")

Plan description-Employees whose positions do not require a degree beyond a high school diploma are covered by the CERS, a cost-sharing multiple-employer definedbenefit pension plan administered by the Kentucky Retirement System, an agency of the State of Kentucky. Under the provisions of the Kentucky Revised Statute ("KRS")Section 61.645, the Board of Tmstees of the Kentucky Retirement System administers CERS and has the authority to establish and amend benefit provisions. The KentuckyRetirement System issues a publicly available financial report that includes financial statements and required supplementary information for CERS. That report may beobtained from http://kyret.ky.gov/.

Benefits provided-CERS provides retirement, health insurance, death and disability benefits to Plan employees and beneficiaries. Employees are vested in the plan afterfive years' service. For retirement purposes, employees are grouped into three tiers, based on hire date:

Tier 1 Participation dateUnreduced retirement

Reduced retirement

Before Septernber 1, 200827 years service or 65 years oldAt least s years service and 55 years oldAt least 25 years service and any age


Reduced retirement

September 1, 2008 - December 31, 2013At least s years service and 65 years oldOr age 57+ and sum of service years plus age equal 87At least 10 years service and 60 years old


Reduced retirement

AfterDecember31,2013

At least s years service and 65 years oldOr age 57+ and sum of service years plus age equal 87Not available

Continued

46

Notes to FinancialStatementsYear Ended June 30 2015

=r MJefferson OoiPublic Sd>

Shaping the Future

Note F-Retirement Plans-Continued

Cost of living adjustments are provided at the discretion of the General Assembly. Retirement is based on a factor of the number of years' service and hire date multipliedby the average of the highest five years' earnings. Reduced benefits are based on factors of both of these components. Participating employees become eligible to receivethe health insurance benefit after at least 180 months of service. Death benefits are provided for both death after retirement and death prior to retirement. Death benefitsafter retirement are $5,000 in lump sum. Five years' service is required for death benefits prior to retirement and the employee must have suffered a duty-related death. Thedecedent's beneficiary will receive the higher of the normal death benefit and $10,000 plus 25% of the decedent's monthly firxal rate of pay and any dependent child willreceive 10% of the decedent's monthly final rate of pay up to 40% for all dependent children. Five years' service is required for nonservice-related disability benefits.

Contributions-Required contributions by the employee are based on the tier:

Tier 1

Tier 2

Tier 3

Required contribution5%

5% + 1% for insurance

5% + 1% for msurance

General information about the Teachers' Retirement System of the State of Kentucky ("KTRS")

Plan description-Teaching certified employees of the District and other employees whose positions require at least a college degree are provided pensions throughthe Teachers' Retirement System of the State of Kentucky (KTRS)-a cost-sharing multiple-employer defined benefit pension plan with a special funding situationestablished to provide retirement annuity plan coverage for local school districts and other public educational agencies in the State. KTRS was created by the 193 8General Assembly and is governed by Chapter 161 Section 220 through Chapter 161 Section 990 of the KRS. KTRS is a blended component unit of the State ofKentucky and therefore is included in the State's financial statements. KTRS issues a publicly available financial report that can be obtained athttp://www.ktrs.ky.gov/05 publications/index.htm.

Benefits provided-For employees who have established an account in a retirement system administered by the State prior to July 1, 2008, employees become vestedwhen they complete five (5) years of credited service. To qualify for montmy retirement benefits, payable for life, employees must either:

1.) Attain age fifty-five (55) and complete five (5) years of Kentucky service, or2.) Complete 27 years of Kentucky service.

Continued

47

}

Notes to FinaiicialStatementsYeat Ended June 30. 2015

A'F'k':u?? hi'? .Shaping the Future


Employees that retire before age 60 with less than 27 years of service receive reduced retirement benefits. Non-university employees with an account established priorto July 1, 2002 receive monthly payments equal to two (2) percent (service prior to July 1, 1983) and two and one-half (2.5) percent (service after July 1, 1983) of theirfinal average salaries for each year of credited service. New employees (including second retirement accounts) after July 1, 2002 will receive monthly benefits equal to2% of their final average salary for each year of service if, upon retirement, their total service less than ten years. New employees after July 1, 2002 who retire with tenor more years of total service will receive monthly benefits equal to 2.5% of their final average salary for each year of service, including the first ten years. In addition,employees who retire July 1, 2004 and later with more than 30 years of service will have their multiplier increased for all years over 30 from 2.5% to 3.0% to be usedin their benefit calculation. Effective July 1, 2008, the System has been amended to change the benefit structure for employees hired on or after that date.

Final average salary is defined as the member's five (5) highest annual salaries for those with less than 27 years of service. Employees at least age 55 with 27 or moreyears of service may use their three (3) highest annual salaries to compute the final average salary. KTRS also provides disability benefits for vested employees at therate of sixty (60) percent of the final average salary. A life insurance benefit, payable upon the death of a member, is $2,000 for active contributing employees and$5,000 for retired or disabled employees.

Cost of living increases are one and one-half (1.5) percent annually. Additional ad hoc increases and any other benefit amendments must be authorized by the GeneralAssembly.

Contributions-Contribution rates are established by KRS. Employees are required to contribute 12.1 05% of their salaries to the System. The State of Kentucky, as anon-employer contributing entity, pays matching contributions at the rate of 13.105% of salaries for local school district and regional cooperative employees hiredbefore July 1, 2008 and 14.105% for those hired after July 1, 2008. For local school district and regional cooperative employees whose salaries are federally funded,the employer contributes 15 .3 s 5% of salaries. If an employee leaves covered employment before accumulating five (5) years of credited service, accumulated employeepension contributions plus interest are refunded to the employee upon the member's request.

Medical Insurance Plan

Plan description-In addition to the pension benefits described above, KRS 161.675 requires KTRS to provide post-employment healthcare benefits to eligibleemployees and dependents. The KTRS Medical h'isurance Fund is a cost-sharing multiple employer defined benefit plan. Changes made to the medical plan may bemade by the KTRS Bo:md of Tmstees, the Kentucky Department of Employee Insurance and the General Assembly.

Continued

48

Notes to FinaiicialStatementsYear Ended Ji.irie 30 2015

=g MJeffersm CoiPublic Sdh

Shaping the Future


To be eligible for medical benefits, the member must have retired either for service or disability. The KTRS Medical Insurance Fund offers coverage to employeesunder the age of 65 through the Kentucky Employees Health Plan administered by the Kentucky Department of Employee Insurance. Once retired employees andeligible spouses attain age 65 and are Medicare eligible, coverage is obtained through the KTRS Medicare Eligible Health Plan.

Funding policy-}n order to fund the post-retirement healthcare benefit, six percent (6%) of the gross annual payroll of employees before July 1, 2008 is contributed.Three percent (3%) is paid by member contributions, three quarters percent (.75%) from State appropriation and two and one quarter percent (2.25%) from the employer.Also, the premiums collected from retirees as described in the plan description and investment interest help meet the medical expenses of the plan.

Pension Liabfflties, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions

At June 30, 2015, the District reported a liability for its proportionate share of the net pension liability for CERS. The District did not report a liability for theDistrict's proportionate share of the net pension liability for KTRS because the State of Kentucky provides the pension support directly to KTRS on behalf of theDistrict. The amount recognized by the District as its proportionate share of the net pension liability, the related State support, and the total portion of the net pensionliability that was associated with the District vvere as follows:

District's proportionate share of the CERS net pension liability $ 264,419,000

Commonwealth's proportionate share of the KTRSnet pension liability associated with the District 3,675,381,169

$ 3,939,800,169

The net pension liability for each plan was measured as of June 30, 2014, and the total pension liability used to calculate the net pension liability was determined byan actuarial valuation as of that date.

The District's proportion of the net pension liability for CERS was based on the actual liability of the employees and former employees relative to the total liability ofthe System as determined by the actuary. At June 30, 2014, the District's proportion was 8.1 50080% percent.

Continued

49


z M?Jefferson CaPublic Sdh

Shaping the Future


For the year ended June 30, 2015, the District recognized pension expense of $30,058,752 related to CERS and $180,101,095 related to KTRS, of which $86,611,458was recognized on the fund financial statements as it represented amounts paid on the District's behalf during the year. The District also recognized revenue of$180,101,095 for KTRS support provided by the State. At June 30, 2014, the District reported deferred outflows of resources and deferred inflows of resourcesrelated to pensions from the following sources:

Deferred

Outflom of

Resources

Deferred ?mflom

of Resources

Net difference between projected and actualearnings on pension plan investments

District contributions subsequent to themeasurement date $ 33,301,465

$ 29,516,000

Total $ 33,301,465 $ 29,516,000

$33,301,465 reported as deferred outflows of resources related to pensions resulting from District contributions subsequent to the measurement date will berecognized as a reduction of the net pension liability in the year ended June 30, 2016. Other amounts reported as deferred outflows of resources and deferred inflowsrelated to pensions will be recognized in pension expense as follows:

Year ended June 30:

2016 $ 5,903,2002017 5,903,200

2018 5,903,2002019 5,903,200

2020 $ 5,903,200

Continued

50

Notes to FiiiaiicialStatementsYear Ended Jur+e 30 2015

]'€%'y':'J tb'? .Jefferson Coi

Public E3dh

Shaping the Future


Actuarial assumptions-The total pension liability in the June 30, 2014 actuarial valuation was determined using the follow'ng actuarial assumptions, applied to allperiods included in the measurement:

Inflation

Projected salary icreasesInvestment rate of return, net of

investment expense & inflation

CERS

3.50%

4.50%

7.75%

KTRS

3.50%

4.0-8.2%

7.50%

For CERS, Mortality rates for the period after service retirement are according to the 1983 Group Annuity Mortality Table for all retired employees and beneficiariesas of June 30, 2006 and the 1994 Group Annuity Mortality Table for all other employees. The Group Annuity Mortality Table set forward five years is used for theperiod after disability retirement.

For KTRS, Mortality rates were based on the RP-2000 Combined Mortality Table for Males or Females, as appropriate, with adjustments for mortality improvements based ona projection of Scale AA to 2020 with a setback of l year for females. The last experience study was performed in 2011 and the next experience study is scheduled to beconducted in 2016.

For CERS, the long-term expected return on plan assets is reviewed as part of the regular experience studies prepared every five years. The most recent analysis,performed for the period covering fiscal years 2005 through 2008, is outlined in a report dated August 25, 2009. Several factors are considered in evaluating the long-term rate of return assumption including long-term historical data, estimates inherent in current market data, and a log-normal distribution analysis in whichbest-estimate ranges of expected future real rates of return (expected return, net of investment expense and inflation) were developed by the investment consultant foreach major asset class. These ranges were combined to produce the long-term expected rate of return by weighting the expected future real rates of return by thetarget asset allocation percentage and then adding expected inflation. The capital market assumptions developed by the investment consultant are intended for useover a 1 0-year horizon and may not be useful in setting the long-term rate of return for funding pension plans which covers a longer timeframe. The assumption isintended to be a long-term assumption and is not expected to change absent a significant change in the asset allocation, a change in the inflation assumption, or afundamental change in the market that alters expected returns in future years.

For KTRS, the long-term expected rate of return on pension plan investments was determined using a log-normal distribution analysis in which best-estimate rangesof expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. These rangesare combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and byadding expected inflation. The target allocation and best estimates of arithmetic real rates of return for each major asset class, as provided by KTRS's investmentconsultant, are summarized in the following table:

Continued

51

Notes to Fi?nancialStatementsYear Ended June 30 2015

A'Fk

Shaping the Future


Asset Class

TargetAllocation

Long-Term ExpectedReal Rate of Return

U.S. EquityNon U.S. EquityFixed Income

High Yield BondsReal Estate

Alternatives

Cash

Total

45.OoA

1 7.O%

24.O%

4.O%

4.O%

4.0%

2.0%

100.0%

6.4%

6.5%

1 .6%

3.l%

5.8%

6.8%

1.5%

Discount rate-For CERS, the discount rate used to measure the total pension liability was 7.75oA. The projection of cash flows used to determine the discount rateassumed that contributions from plan employees and employers will be made at statutory contribution rates. Projected inflows from investment earnings werecalculated using the long-term assumed investment return of 7. 75%. The long-term investment rate of return was applied to all periods of projected benefit paymentsto determine the total pension liability.

For KTRS, the discount rate used to measure the total pension liability was s .23%. The projection of cash flows used to determine the discount rate assumed that planmember contributions will be made at the current contribution rates and the emp}oyer contributions will be made by the state at statutorily required rates. Based onthose assumptions, the pension plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan employeesuntil the 2036 plan year. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit paymentsthrough 2035 and a municipal bond index rate of 4.35% was applied to all periods of projected benefit payments after 2035. The Single Equivalent Interest Rate(SEIR) that discounts the entire projected benefit stream to the same amount as the sum of the present values of the two separate benefit payments streams was usedto determine the total pension liability.

Sensitivity of CERS and KTRS proportionate share of net pension liability to changes in the discount rate-The following table presents the net pension liability ofthe District, calculated using the discount rates selected by each pension system, as well as what the District's net pension liability would be if it were calculatedusing a discount rate that is 1 -percentage-point lower or 1 -percentage-point higher than the current rate (I calculated the amounts in this schedule:

Continued

52


2M .Jefferson CaPublic Sd>

Shaping the Future


1% Decrease Current Dis count Rate 1% Increase

CERS

District's proportionate shareof net pention liability

6.75%

230,300,419

7.75%

264,419,000

8.75%

298,537,581

KTRS

District's proportionate shareof net pention liability

4.23% 5.23% 6.23o/o

Pension plan fiduciary net position-Detailed information about the pension plan's fiduciary net position is available in the separately issued financial reporks of bothCERS and KTRS.

Retirement Plan-The District makes available various 401(k) and 403(b) defined contribution pension plans for all employees. These Plans are administered byindependent third party administrators. Employees are allowed to contribute any amount to the Plans up to the Internal Revenue Code maximum allowable amount. TheDistrict does not contribute to the Plans, but the District retains authority to amend or terminate these plans. During the fiscal year ended June 30, 2015, employees of theDistrict contributed $1,866,715 to 401 (k) plans and $8,823,499 to 403(b) plans.

Note G-Deferred Compensation

The District offers its employees a deferred compensation plan created in accordance with Internal Revenue Code Section 45 7. The Plan, available to all employees, permitsthem to defer a portion of their salary until future years. This deferred compensation is not available to employees until termination, retirement, death or unforeseeableemergency. GASB Statement No. 32, Accounting and Financial Reportingfor Internal Revenue Code Section 45 7 Deferred Compensation Plans, allows entities with littleor no administrative involvement and who do not perform the investing function for these plans to omit plan assets and related liabilities from their financial statements.The District therefore does not show these assets and liabilities on its financial statements. The District does not contribute to these plans, and employees of the Districtcontributed $2,05 7,707 to these plans during the fiscal year ended June 30, 2015.

Note H-Post-Employment Health Care Benefits

Retired District employees receive some health care benefits depending on their length of service. In accordance with Kentucky Revised Statutes, these benefits are providedand advanced-funded on an actuarially determined basis through the CERS and the KTRS plans.

53

Notes to FinaiicialStatementsYear Ended Jur+e 30. 2015

Jefferson?CountyPublic Sd?s

d7?h.Shaping the Fututae

Note I-Commitments

On June 30, 2015, the District had outstanding commitments for construction of $51,912,095.

Note J-Contingencies

The District is subject to legal actions in various stages of litigation. Based on the advice of counsel, management of the District does not anticipate that there will be anymaterial effect on the financial position of the District as a result of the litigation presently in progress beyond the settlements recorded as liabilities as of June 30, 2015.

In the normal course of operations, the District receives funding from federal, state, and local govermnent agencies and private contributions. These funds are to be usedfor designated purposes only. For government agency grants, if the grantor's review indicates that the funds have not been used for the intended purpose, the grantor mayrequest a refund of monies advanced or refuse to reimburse the District for its expenditures. The amount of such future refunds and unreimbursed expenditures, if any, isnot expected to be significant. Continuation of the District's grant programs is predicated upon the grantor's satisfaction that the funds provided are being spent as intendedand the grantors' intent to continue their programs.

h'i addition, the District operates in a heavily regulated environment. The operations of the District are subject to the administrative directives, roles and regulations offederal and state regulatory agencies, including, but not limited to, the U.S. Department of Education and the Kentucky Department of Education. Such administrativedirectives, roles and regulations are subject to change by an act of Congress or the Kentucky Legislature or an administrative change mandated by the Kentucky Departmentof Education. Such changes may occur with little or inadequate funding to pay for the related cost, including the additional administrative burden to comply with a change.Currently, the District has budgeted for such unfunded and underfunded mandates as Early Childhood ($ 15.7 million), student transportation ($46.8 miMion), English as aSecond Language ($9.3 million), the State Agency Children's Program ($7.4 million), Special Education ($66. 1 mil!ion), and a new employer contribution'to one of thepensions that District employees participate in ($ 11.7 million), among others.

Note K-Insurance and Risk Financing Related Activities

The District is exposed to various forms of loss of assets associated with the risks of fire, personal liability, theft, vehicle accidents, errors and omissions, fiduciaryresponsibility, etc. Each of these risk areas is covered through the purchase of commercial insurance. To further reduce financial risk to the District, additional policiesare purchased to address the risk that claims could exceed the insurance coverage limits. Over the past three years, the District has not had claims that exceeded its insurancepolicies and excess policies. Since claims are entirely managed tmough commercial insurance, the District has no claims liability as of June 30, 2015.

54

Notes to FinaiicialStatementsYear Ermd June 30 2015

:oow M"Jefferson OoiPublic Sdh

Shaping the Future

Note L-Encumbrances

The District classifies encumbrances as Assigned Fund Balance in the General Fund and as Restricted Fund Balance in other funds on its Balance Sheet - GovernmentalFunds in accordance with a directive from the Kentucky Department of Education. Issuing and controlling purchase orders is traditionally a management function, andencumbering and releasing the encumbrance of fund balance is a function of the District's management with approval of members of our Board of Education. As ofJune 30, 2015, encumbrances were included in our Fund Balances as follows:

General Fund Assigned Fund BalanceGrants & Awards Fund Restricted Fund Balance

Construction Fund Restricted Fund Balance

Nonmajor governmental funds

$ 17,456,000

2,394,047

44,462,407

48,103

Total Encumbrances $ 64,360,557

Note M- Change in Accounting Principle and Related Changes to Certain Beginning Balances

Effective July 1, 2014, the District was required to adopt Governmental Accounting Standards Board (GASB) Statement no. 68, "Accounting and Financial Reportingfor Pensions" (GASB 68). GASB 68 replaced the requirements of GASB 27, "Accounting for Pensions by State and Local Governmental Employers" and GASB 50,"Pension Disclosures", as they relate to governments that provide pensions through pension plans administered as trusts or similar arrangements that meet certaincriteria. GASB 68 requires governments providing defined benefit pensions to recognize their long-term obligation for pension benefits as a liability to morecomprehensively and comparably measure the annual costs of pension benefits. Cost-sharing govermnental employers, such as the District, are required to report anet pension liability, pension expense and pension-related assets and liabilities based on their proportionate share of the collective amounts for all governments in theplan.

GASB 68 required retrospective application. Since the District only presents one year of financial information, the beginning net pension was adjusted to reflect theretrospective application. The adjustment resulted in a $256,195,138 reduction in beginning net position for governmental activities on the Statement of Activities andan increase of $34,291,63 8 of govermnental activities deferred outflows of resources - District contributions subsequent to the measurement date. On the Statementof Revenues, Expenditures and Changes in Net Position - Proprietary Funds, the adjustment resulted in a reduction of $7,18 7,879 to the beginning net position for theSchool Food Services Fund and a reduction of $493,231 for the nonmajor enterprise funds. This change reduced beginning net position $7,681,110 for the business-type activities on the Statement of Activities.

55

E6

?Qdm

E%mEm

Wa:s

(/)

a

P

z

.G&

?S

.Ei

E

!a

saa

O

.ffi?E?

16m >

;, y5aa8a'ia6Jl)al5

-di:IIEAm,

gr

E ,,'od i;:..E

g sX6

IwL

aE' 6 artom g %

cg ,S -,u B o?p a=

%al 1

y 14 <(g1- 111 wz w a

4' "o 'Th'lhe1111)

Al!l%-?u'6-Th@ la 1;),a.i5ie414}

Ethth

f ) Th I*W lfi ('t hl? f N O

r- Th W t'n%" * '< 0::ff

,t3(N '-WO

J.a w '3ffl 4) mfl ?(?u ? (1)

3 -,o co 6?a-i ? 11)?H 63 >,l'l ','ffi :aN%Q

oa < lft 10 0 g W € IN O l'l I'- lfiOt)0 l'- Io M(N

rh t?s m f y rn F'l 'et;;nH§§i2HuW::;iO'D

(f'?M u f ; 4 -*

I-

0 aa f# lli (Th0 I'-11)

l/l€? ry'o 'Dtl'?lL}; ; 'R

I-

O

?ilCt)

-l0

ONl'-

-l

0Vl

-lCl)

M

f

0INl'l

Cl)

&4'M

ii'ilhI?-

-Ll0a

IX)-l

P

O

.-l-l

51)

Thlfi

0

Th

O

E

saOa:j

?

e

(5

W

10 'h (N o ('l < 0 .t?- 0 '< N(N o 00 o '> Ch oo v'i 0 '< N

l/'t

ClThf Olfi) OIA

(71 IN O0 (N01)Ctl) (C

VIC) I'-u*In

Ce

l/l-l

W

'D

O-l

Ol"l

-l

l/i m 0 hoo v'i 0 '<Th € 0 Th

ao ' 6 ;lo O' es ml

#H"lVl

Ce?

lThE

0

m itJ -;:b

E

(0IJ)

14

E

!m

al)EE

&

all5e

(5.

W

i

pE

>

&

saCl

(i')

::O Th01/i

h 0l.?

(Th N 00 NCDIX2 W

nO t'-'D 2 :.m

'a'a Vl f 0 (N (N 0 0 0 f N? f (Th CLI IN E 1.1:)- 0 01) N'o. Q Q a?: ffl g ; R ; ; 'D

0(7i?INVl?

I?-P'00IN a?':

I'-

@.

O-l

lfi

I'-:ll"l

.:l

l/'i tl'? O Ooo V'i O OsCli 10 0 01)

-l000a

:(Th 00

6 A -f ,,;?Io;IN

(X)

IN

In

I'-

O

0

>J(J

aE

2

Eeila

s

%!-io

'/)

0

ro

"p EiE>

U --' ui '?l'i b,r al)i'T' Th-O€

5E

tA

)11

W

%-i

:zMEWQ

'a3 ,

W

IIW

m Ie

3

E

W

S

:je

p tl}H% 7'

€%%4€Qfl %%e=-%%- e

: =g-i Ke E.a: g, vmi J H os*U,--W- -*sO@s', %4; 3Q

2 ,: .5:imOO';; a: O

gui3m

E

m

;

.G1

?B

.5E

sae}

szs

E

(:)

hD

.a?O

16

E

4%

a6- a':3u..OE

aO5i€111,:(g1o l-0rH11)IJ

od f:b -;?;; .y z(-) 'g) ffim t... M.Imgy

aE'6ai'm @ Ua) -S :e-; uh

m&a

'11 ?tm o?(= a=

=el z: ?A ;N 14 <(g1 111 wz &0 Ia

W' "o E'The11111)R

45' 0- a'J?0'h;'s-':I6 la 'G;)za.ig

Hlcrin

E I'- m I?-h C) oa f

ffi o- m ('Qlh 'g 01)Vi 'D4% 'u

Fj

N cti S' f 0 f (N (X) IN (Th I'-ta u Vs @s 0('l n Vi Q oo

; § ?m 0 IN- 'Q 0 V'! q % ;i

oo 6 'ti c's? v -'F'- * Th Yh W I'-lfiN

Z (N

l"l

10

l?11I'-

lfi

0

-l(Nfm

-lf

M

WA#A43#444Nl3g:?§g#gi

fOs

0

'€

uThl/'i

-l€

'!ll/t

l'l

U (N 0 CTh'D Vi Vi 'D

IN (N Th ?iE tn (N f0 f

IX) l'nil'n (Nl'l

I'-l'a'l

lji

)

In

'-bl"l

:1

!aO

:jL

11)

?

s

t:

Eo

&l?M

Iol't

IN (Th (l'l 11)f lfx (l'l

f'lI'?I"? -l-'r CO'Io'f'O

f ('I-l

I'- (Nlj

W

+W

-l(N0

-!llfi

l'

ThTh

-lOa

Oa

01)-l

(ThIn

O

??

CD

(t)

(t5

a%m

m it,Q -H:b

(C

SLO

14

:'>§ ;J-5 IJ

j

3aha

m

SE:5e

-lj':j

CO:o

i(.).3 E69glhu&g,ai}i<dfflQaqmi %-m

o

=4A-!+-i31@E

al:)

C7

"Eimmom

51)--'a-]:l?l"l uwThOE

5E

Io

Q(Thl'n':lnThju

In

(N

O

l/i-l

I-€

-!lIN

0 N 0 W 0 le) 0 W V) 0l?

0

'!lCD

l'l

'-ll'-

(N

Oa

0(N

CO

m

I'-IN

1.4M

:'{i:'ez't s H

'! ff j .ffi 'r ea.;Q"o §. H .

!?Lhfl X

Jsa?" 'iu ,:= ';: '.5Au?a'aoaoo ?,J"a'oaoa i'a og; :==== ,'jj oh ?'v 'ou ":i so a' oo "'b a!"wJOvEaivOE0aiJ

W

'?

;eQai

5;?aW

41Z

m

Q

E

E

w

S

a6e

€

..C!

E:M.g#BE

E e e! u "<a G j!! as E?OrEOS

2

:}g

>

;W

S

Vl

0IN

l'fl

E)'i

IEU

:

&oQ w%m,

I;k-; .G>," ttl ffi

?' .ks Ell)..--

U)4)

.,B- p 3 B'a .ks 3art %-?':'o: !"-: r' 2 '3 7)o a5m M.6. .a, B 'Bl) &5 ?: '4 M =uu-Q--.6 u Cli i" ?'- a uE E! ?ao? a o

b 2 aa. .% ? ,a+ 6'f;, A ?a" -?m?EIEE ",, aei !,?%a' l: "i, .Eo=ao??"giu o,"a'= ":? =,ai Fao?

E a=? 9 .; i 6u E 6 ..,(m='o,"a4 ': ,u"- J5: aou ?w- 'otffl. ?S,w ,O m .; A s o*- obii S

7 s 3 ui -e (Fl -C) ? Ga

2 it-??'a @ d =o j! aa+ es? -6'? I!! E E € ,i ,g j)-ei (;:. -U.- i, 'N.. , u'amJ" u"> ,u.'ee' :u a,.,u'a ?ll)! u?a=>.@ 'aa(eB .5 .'llB5;p

: a'5 ."3g o(;,51" -5a' .'az- w'aa'a' :" 'F"Cilh

W 1.- - ,

ul%*-11)

.- .t2 H >A ..?x.??'=o?? s.. ?u?:A=??€, ;F. 6==?n j, ?';= &? ";"a: ?E"o o-- ?ao ?'as? ='...?ao aag oa;'.5-po? -5' !o a?p ?'a, 'B '?Bo 'ff", ui s ei :' a

?aa! ??u .'LI"? 'S=" ';"a A ?: ??"() 3?'o'a' ??' :E A,%g'B"?"0. :? aCl'.iii=,bo??'> -!:, ..'lo? ,&;),,%?g ;o. 'f:a+"m 'g a'ol-a o a tA!e 'A ':4 2 aoa' a!'a'a: ea'eo,'=a" a:of=goe i":a" '='au ':"o oar H'a ;ao €a: ;oo'o

?;' fl?? :0>a" A? ?'>,?a"au' . :B: ;a" oa()al?'

e 6s- .,x 7>, ?'-, ,.=o ="abDs =:"(4 piiiz= ?' :g 'a=, =-aiu ao, =: €E'."a"?"' :": j'J"' "; ?a'a'(.) o: j'a J:"? 11! M,u ?:E mu..a ma i i mz vu x-OQ,Q;4',,""o- 5,??'a'a? o',; .';ia" E' "ff "?0;>ulaai": x, ,!a: "'-=aoa' c'-:a :+D,,'g, ,a?o'oj. .?: .:a" a, o,u al:l, ,u7 ao, a-?e' o'o "(i)' ?"ai -?? ",

?<Slm

=J"4),, '? E iii s ,9'w a'k Eo ?" a 'E4:,; u> 'gu ib= gw uB a> a [email protected] "': ?'s ,a' B c ", o art8 ?64 (E!?' -5a' A '* E 4 r

<:'g

1 @ [email protected]'3 !.! a)=o? ,," ;,,;, % Q

(;)g)??' I.I'l ui:Etm

>'

;€ i:W air,.c0? fi ?:J4 ;,: ,=go4;:i5g,B:= Ei= t-a=u ? ()lal)il,

ao ' .ad:j,.J

,ffi 6 '4'e ; ,E,o .9 <-? * u' .= :'), ?.;, B :Llpu?me:"'aa -*o A

m'em a- -

eE-e',Q yll)l- <Z ':; 'laiv'0?i;?E!A3o-%a?O(,>

o ,o, a!

a

o':-5=o

a u -!?f u 3

$ p ",> § art..C) ,:(6?. ? ,i)o;::tJ) (,)ae).1:jes-6-o"?O?

A .c a E' 0} ?D 111w ?u D B

5-.T).,3 a- 0.} 0},,& "'o 'aaia's xa'o ;: E:a" a.o o3 ..;>"a"tl) l- - "p (). f- s,e eu rop !"os B,-a s?2

aM ;;C)a ?.u'o s 3' ?n

F, U) ,? OR;"?W(>a5Xa)':xGzl:, H , 3'aa ,i 'aa ?b,aal-i u &1 ?

'B € 'ao aoE a ao 'affl- , & 6Q 'a D ()IA o U# ? - MJi 'c s B

g

-;

>

W

s

e

'?

g

Im

a

-Q

E

m

co145

a

!a

IUal):j

(!)

&

aOi

11)€a

P

E

04r

-5as

(/)

>m'

j

2SEeeuEe(M

6i

)-s%so

€e

!Em

!%io

'Effimo

El

t

11

;e

B

<

E

I:

!

ffi

a

a<

e

&

a

o

In

0(N

0M

eE

l-r

ah

-dEm

p

EE

m

o

4 C) C?(i 0 0igo O eN0 0%: 0;C) ? rsy

,al 0 0r oril C) ? ('-,1yl ", '? Q

Ql ; @ glGA?

X€E

01('lm

X0("l0?

00l:)

EE

>

ao

a'O

<

eo

>

E

Q

5Qr-s

pm

!Em

gO

N m

l-111)€§,B 4-Q3g3.C5-C->(/)11)

() ,,5

a'B ,"a'C}a'Cl(:ll)gll)tl)>d$(.-m.Ej

.J .!!€,,a'O4)?

', g-,,i' -?(1>? ?.C, 'a05

(/)

EJ:)

:.:1C;0

-Q E(Q 6B.-E > (Jc'ff g :€fiN ! mo=i2olllx%?3'@6s I "!:I ("la'3U '5 6ao i "!:I ("l

11) I-m(1>,.g0 g gm,.gQ @ g?c/l E%

0)LO

??'o"o'6.ea. l:"'o:?,' I??o.J>"' l:oo?o,-a==-=-?o"aa5e. L'?=s,==?'??=uJ'ao'A

m

2

6

'6H

s4

l4iS

Q(/)

00 X00€?

00m€

X0QVi

Vif

XThtn0000

(''?

l/'i

X0000

am

I

s

a-<

0(N

Os(0

01Th

m a-l

'? a-l

00 IX)

l?'('':0

l?'(''?

("i S'

yi vsl

ENf(fi00eN

Vi'NH

e')

>

-;EO

f<

co

>E

!

6ilimz

..0m

!Eto

EO

N >m

o@'?w

,g 63y3?J>tri y-

() .a,

? ffia'da'Cld4)(,4)II):'%

(.-m.a.g .!!),,a'Cj(1) '?

?-. ?e5a'-' ..C)?dQEi?J<'(jC/)

€

:.:iEO(/)

E

A

D

2

.jE

r

>JIJ

:,sN< p ,%Ba).Qd%Jc/l l> , -

Xlbw@F,E

(,+ C;Q'

C ?(? n'?Bp41mJB-""(L)IQ

oA %-S O 15yis'l:I -z? : EoO.a2h'iJ:!,00+'d51/1(im w wm -zOrsrO.- fix l? kl67 @ qJ. y % 66 i 'E ("I(l) %(1>fl a k Q

'c/l ;o j

,.C) 3(1)."'11)ll}a'a C)m>

j"oo. 4o"": i.,-" :c,o"=l (l) a6 dO Js ,.dQ g

< o g'; m&' 6 D% mW s ,11o. % 56 .5. %o> s '5 o g ?>

N N M"' ?:nA

0(0

E

M- ?5"aO

E.6 !'€(60;.EI12-E q

a)E

E-> g Ci? ?-0

, $. -ffl.

(l) Q ? : CCI ?g t.m EGT) g,j:

s n t;, 't;.() .@ '0 a'Clg ? g5 p

s, .l?AO

> o? 04o -? A -ii a eA0 0 4"et?*?fl fl 5? ?6z

V M :a :j

m

a2W

H<-5-@E

&4j

(f)z

;,0(ND%l/1

>?

(X)eJs(N

Os'(NS

OS'C)0m

M

9l/')m

?

0II mfi ;("i'?

S0(N

M

elj

>

gC}

-cj

<

>

E

d

lm.OIL)

(*m-w?..C)E,.BOEE <'a:;)-itlj

;(,ICm'.g .;.)jo

fla23.C).E>U)11)

0.,SE ",T3T:l(:a.l(;a.iQ>d(d(?-i.e%

.H ,q,,a'O11)'

"=l x4 ao11)Ei?z'?i,)5

c/l

:j0

a'Cj

Heo

:jart >EJ6g2jEE5B6.1;,2

wngw (1) @) %E D )-s *,!q > s-i 0w C) M '

> %s '

..0 : l aE :oNN5

=HN j aJ (5'3 r" ag@ = ..@ ar1>

% a*wl-11 U)@(6

ff

(0

E

'-yo0,Eedl" oe?(H

t L o>"'g5 'a3?O,?B ,ED ,,IIJ (/)l> @60 @DQ -? +-i

yD;:j:>

€. >s So! S= E

,3 ,

K

ou

'6H

dE

€

&€!

(/l

;,eci0Vil?0l"l

E(N

S00€N

Vi'

l/'l

Ii-?

l/iaffl

m(N't'CK'

Tl frifi ,..-(?,zl l-?l ?O€N

(A

(j)

s

>

-,C:6

a'Cl

<

>

g

m

&m

00.+lm-l

.oE(6oH-:? mm>2(d

;a,)?lffl

,EE !:),EE O

5y3.0J:I>(/111)

().a

?cl ",a6?ag*a.l>*-i;d

.Ej%

.H ,g,,j() ?-I

?: ?fWo"..0a'Cja)E.g'?os

C/)

N(0

>J

.,10?" :5e!bi.ll>{I'i*(,a)I'i*r'i J:! m *rl Q r- m M (/O<1,?5o -: 'EE >?D > 4 v',!!!l ? R -z?o !' s'5W j a07 2 t

?Ei f "Cl :

.a 'g 'i

EC)

E

?e

E

f%

E a>;

RM

p 25(:mQ

ao 2? ,, o @ E >s --i ,- Oo @ 'ffi >.b, Li g, ;:,a 2' > '.Q

,,,;j€?'jdo EOe- s?m y ?m4-I? ?Eg O

$, €50 H H H

t

2

O-m

'6E

mE

€

l

!E

C/)

kyo=,E(k) ?@eiD+=e5;):,J

? i,ia-j

ad e24. €? a.ii(IJ (5i> ga'd8 ,99

wlD"i>

d

Eu

6

b6ab u

a

..3

Ee5E

j

a,W

(/)

QA

6

.G)=

INV*

?l

l'--l

IN

?E

.5l:jd6

sM

?iVl

u

IZ)-l

2b

(N

31a

E

o

tA aD

.E

:suJ)'a

55aJ5"M: ffi'w

Q

W

1 l?)1 =" ='l ':tll=f r'- ?'a. m o Vi o, m

.1 H:HHiw#l Wjl 'o;"= Cl)

E

?im

-tVi

-lm

IN

-l

Bl

ffi

j

l/l q *i.E -tff>b

a)

0 uai W ffi (N Oi 10? " @s l:h <f Vl 'DN ; @ @h -? w oos ; 9 s ; :il!,o?:4 s " ?"a ioo'.o.3

f

lfi

hI*

Ual+-

l-

Vl

*i (A

Os

a

(N

h

(X)

Vl

'i%

==:l=='(=a

!

(N O Th 0+ 6 a WI' O Y l'llf 0 0 ftfi W h €IN m 10 (Th

; -- -l+Nlnh

NE

Q

IN

m

Oi

Ii%

hh fuaif06

-lYEI-I'-

0

0nm

00-l

€I-f

li%

I'm t'li

Th Q

INI Nml mol o01 0

-I -

Vll vi-ti *

laA yi

rW,

@pB(:

m=: ?,u ?ou,,"og. i:I!',= :i ?aa=€m"u,ai 4a,,,g:"?a :i u?"3:E E! u 2 ff o aa ,1 B *aa 3 3 ? B a :" 'ii Ea'JiaiOS aia)t&S

mM

W

(1) 0 ) 171

th 0 '.0 IN(t) O l/'i

?l '-lm

Osl/l

€

Vi

Oi

h

Vi

mO€

-l(fi

O-l

W

f fCh Ch

W 01)

;l ,-l00 lb

E E-l -l

N (NIN (%l

W 110

Vs l/l

0 0-l '-l

'e1!:) 10I'- h

-l -l

N INE €

(l

L(}

.Q

EE

Oes bbi.m <irE

CO

(N (N

? lfi

Th Q-l ?l

V'l 171

'-l -l171 l/'i

W

l-

10

t'n

)

N

Oi

f

T-

E-l

lfi

I-

-!l<>

E3:s J

(.)o2n?g- E,t!W

6EEo

(0

iQ.a E.6e5011),ffig,a.lZEW,ao%a %m

o

VTha#

0

r- I'-h I'

-l -l

Vl Vl

00

-l -l

Oi QVl Vl

0 Osll'i <

-!l VX

I'n l'-

I'-

lla

f

IIX

a

N

lfi

Oi0

Vi

m

Th

?.1l'j

Th0

-lVl

f

W-

fi 316js a)

W?

§ §iOE

5(0

.9=

a€

E

M

aljlJ

21

m

>

dU€1

<ea ..A'a&

Eli-a

art ;c S-a-& RE

€ "aa ?'a' l:l: J ao'l"l :E ' ,5 +< E 41 ws a .kl :;t-.E

? n m (g1 %

: e wo j o4, " :4 a" @Q 'a g .:G ..al5 "--

(1'}

m -- -rQi

? 6 art'3e4)m=z

g pu@

; w

==F'l"E

s

tfi l/'i (Nl*O(Th a% W

I'- 11)% lfi

Y t4'? 0f(N

(fi

0

I-

ThI-

(N(fl

iEA

P&'}

i=1===l=f (Th O t'fl

; 00 0 €

§§l5=>s6:55E

uM ?" i' l'l'

t'j

Q O.i l/l

OINr

INl'l

14

Th ThU IC)

-l -lN (N('l m

W 01)-l -l

I:b l?

l'n ('t

d 'ad w 'E,-- art mE 511,.. all} nio lj

ao g?? -? a+?(4 m >m :Q :a;c

)

0

ah

E:

p

s

I-

Th

J

:5

o&I')

00l'

5D':3;' %4<05

5C0

0I'-

Ct)

M

tA

l?-41

l'--l

(t)

&4

l?-:l0h

-lIXi

l't l'l

U IC}In vi

-l -l

0 0N INOa (t)

-l '-lN INIn In

aOE:j

O

m'

EiE

2

B>gaUs

.3 BaeQe

5a>+!EfflQaljMm %m

o

'/)

0

ffB:0 6 ?0 E %sm.

:laAt2 ,='a'lm,,,@ - as-%mJj@ sj "p Jah

m0'a)(/) Hl >

'+(0W

m t'l

U E

0 0IN (NCt) CC

-l -lIN (Nm lfl

00l'-

:l0I'-

-l01)

14

Iw

' offl

"EQ --0

m111

W

e

:=ol'l 'lall'.1 WSI W21 =I= -I 11;

IX)-l

O

si>E

!I

a

s (:

o

-l!!5e

E(/)(75

mxti

INQ@a

00

=:l'tlf) Ol) I'- Nt'al Io € IX)

'D @i 0 U

as

i

s

I'-

0t)

-ltflt'?

O;i(,1' ?

In

!0

P

17

EsL

ll.l=

&l')

NW

M-l

0l)

".1l/'i

f

&l)

0

-l('l

NTh

-l

Ce

IA

00

00I-

IN(X)

U-l

Clll)

C)%-l

?

IN(X)

.:l)0a

Ql

In

aaEEli

i'E

Z

a>9J!alj",Q,Bq;o 2

SEE

ahs

CO

=.h6Bu.:I Be9(:iii,ffig,QX5WQThga lm

e

l/t

0

LJ')(0

000

00)

000

00h

?

'm

m W

11)

.9

CL

(fl

Ct)

E-l

llat

sa

l?- a

O

M

.€

o i-o -!' t

Z6

m W

IoNQ

-lIn

(6

Io

t:l==='l=;Ixes31 m

Oa

l'-

ln

(N(tl)

!

(ia)

-l =l= 'l'000

l: Ql?fi uli.aol

liD- 00lfi

OE

5E

M

Io 0l't

lli l/i0(N ) -l

.:l 0Cl)Io'.0

i?r. I '/')l/i

-'l?ls

@O In CTh; l'l Th

('l ?il"l Ik'?t'l'-b W'D " l:l:

0

'-b

Cl%l/t

Th

s..a

tA

e

?l=l=l/'t

'a* u?i'( uwad

l)D -t'n

01)

E

6:j5E

tA

ffhMCDI.D

lD%0

!??f

l'0Th

-l171

&e)

ll'l f l'l'?01) € '/it'j Cll) I'-

?;tU .-l-l -l

00Vi

00N

f

r-

ThIC)0

'-ll'-f

I-

E

W

m'EiI:

:2

E>gUs (J

aCl"

,E;o ,,2(10

SaEou

ECO

gi(.)3g;,;ogH,ffi

e eUQM%

oIn

0

(0(0

v>l

V'i

Fn

l)a

E

0

OO

00Vi

O 0 0 0O 0 0 0

(t? (N C) 0-l

li? (Th VX 0lfll7 0

f Vi

W

-41€

(N('-

M,

Im

':061

nL::aJW

m kl

.G&

?E

.Ee:5O

!

!ba

e

OCl

.a?E!

e

?

E

,, sl-a. ay

>aCl?mJ)111

aOaaa*R', 0C)

li-a

E

(0

:5(JCI€u -0uE

?Blw

(0 E

tE4g

'R5D-

a-0

QE

a!m

@u

-00

iea)

lR4}

WY

A *- ,'.!. u m%o'lbo,5,

E,?' (0 ?'a: ? u?H 1111 >

5L

>0 f fl/t @i fIN l/l O

l't ; =-iM M tq,

(N

W

e .a

E

u (f) H

l'd

l/'i

'AlCe

yiM

O*na)Tha ;' N-i' r'> 't'(lh0 -' (N

l?-

Th00

t'j

INm

-lI'-(Th

lx!l

€Vl

-ll'-ln

sE

f

u

E

e

e

W

Im

g

a:

a

Xti

EartB

?€

Ew

#(4

IN

?!ll/'t

l/'t

0

Oa

h(Th

(l)

'.1:)

IN;l

l/'t

In

!IQ

0

In

l/t

I'-Oa

-lIoTh

al:}g:jffi

m'Ei

2

:4 >

s J

aa'a!,E;'aa 2W

3?

0:lEEEou&

.3 B

.,oBvi,l.i

F? &UQ'ffi%a lm

o

QA-limJj@E

J:

(/)

"E

aao:

m wl,5 fig:p

E

S(0

v>i{A

J&

.e;,o 4'f!iaoOE

5E

U0

-l0€

I'j

0

PI:b

l'n

0-l

11)%Cl.?

0hTh

IX?

(N

t:

m

t:

&

s

<

E

E

)51

MM

?'? (11

'g61le

ie(a

4}41

ufl)<Ztjffl

a

,,g:lSE-lllm

m3

€i€

is? ?a l?0) *

g.?.u .. -ai ?'J:I'yu

re B "au !':? aa 3" ':'a U)?a S 'dI- 3 s .BI- 3- a oB'aiXh

m

Rg

>

;

m

?

ll'l

ON

0('l

gE

%

s

'0

U

>

-' O

IIIE!u

E-1115

w

ljJji ;i A}, Z, j-i :, :,

-jhl"lhVigg06' '/i'

V'lIX}.

m

M

0l"l?

€I(%I001

v>i

sE:i

(Jm

aaJ%U

.36

',m a0556:2::taU*-bg: .4)a));,J@i,:C/)@Qg06a!35e4aiQ

(;@ 2 :0;j5 s :0H= E C,,bb 2 0B i? N?dOc>.,a € zf s -,'-0 @ E'l:: 8 g(5gQg

AN-l :l illf-l il :ll

!i

X

<

p

?6

j..E

O

a0h

!i:=iQ3:0?

('- -mlTh 'tl'so r-I0; -'-I? ?

'%0

00m

fl61(nE

M v>i eieii

S h

yi eql

!llVlQ4)4Daz Eraal ?,W EQ,76-jg&Sl

6al

"ol!ldu

:-i-? =C:E ',-B j

:e i(11'l--m O:Q:E5 @?q

a4 -a: 'E--i EQ @

t

m

c

s

<u

e

E

is

CC)(!0

Combiing Statement of Revenues, Expenditures andChanges in Fund Balances - Nonmajor Govemmental Funds


Year Hnded June 30, 2015

BuildingTax

Fund

SHEK CapitalOutlayFund

Debt Service

Fund

District

ActivityFunds

Total

Nonma5orGovemmental

Funds

Rewnues

Local sources

Pmperty taxesState sources

SEEKpmgramKSFCC auocation

Other Sources

Total Rewinues

ExpendihiresInstniction

Plant operations & maitenanceDebt service

PrincipalInterest

Total Expendihires

$ 32,147,963

439,945 $

203,802

32,791,710

8,701,711$

8,701,711

8,171,6372,603,978 $

10,775,615

29,914,48516,034,197

45,948,682

719,682

719,682

104,2043,737

107,941

$ 32,147,963

9,141,6568,171,637

3,527,462

52,988,718

104,2043,737

29,914,485

16,034,197

46,056,623

Rewnues in Excess of

(Less Than) Expendihires

Other Financing Sources (Uses)Operating transfers inOperating transfers out

Total Other Financing Sources (Uses)

NetChangeinFundBalances

Fund Balances , Beginning of Year

FundBalances,EndofYear $

See hidependentauaitorsoueport

32,791,710

(38,832,169)

(38,832,169)

(6,040,459)

6,284,171

243,712 $

69

8,701,711

(8,701,711)

(8,701,711)

$

(35,173,067)

35,173,067

35,173,067

$

611,741

611,741

611,741 $

6,932,095

35,173,067

(47,533,880)

(12,360,813)

(5,428,718)

6,284,171

855,453

Combining Statement of Net Position - Nonmajor Proprietary Funds


June 30, 2015

Adult

Education

Enterprise

Programs

Tuition

Pre-School

Daycare Total Nonmajor

Operations Enterprise FundsAs s ets

CurrentAssets

Cash and cash equivalentsAccounts receivable

Due from other funds

Total Assets

Deferred Outflows of Resources

Pension contributions after

measurement date

Liabilities

Current Liabilities

Due to other funds

Noncurrent Liabilities

Unfunded pension liabilities

Total Liabilities

Deferred?[nflows ofResources

Differences between projected andactual earnings on plan investments 15,049

Net Position

Unrestricted 12,030 16,073

TotalNetPosition $ 12,030 $ 16,073 $

70See mdependentAuditors'Report

$ 191,145$

134,820

181,046

191,145

46,226

16,980

21,689

21,689

$

10,555 $ 5,23826,897 208,653 $ 231,571

37,452 213,891 231,571

2,421

2,731

216,997

216,997

24,223

27,329

112,560

$ 112,560 $

120,739

120,739

13,478

15,206

191,145

15,793

467,121

674,059

62,246

46,226

494,245

540,471

55,171

140,663

140,663

Combining Statement of Revenues, Expenses and Changes inNet Position - Nonmajor Proprietary Funds

Board of mmcation of Jeffers on County, Kenhicky

Year Ended June 30, 2015

Adult Enterpris e Tuition Daycare Total NonmajorEducation Programs Pre-School Operations Enterprise Funds

$ 399,442 $ 101,090 $ 663,178 $ 27,341 $ 1,191,051Operating Rewinues

Tuition and fees

Operating Expenses

Salaries and personnel scrviccsEmployee benefitsPurchased professional servicesPurchased property maintenance servicesOtherpurchased servicesSupplies and materialsPropertyMiscellaneous

Total Operating Expenses

Loss From Operations

Non-Operating Rewinues (Expenses)State revenues

Transfers to other funds

Transfers from other funds

Interest income

Total Non-Operating Re'wnues(Expenses)

351,395

115,923

17,4603,409

63,358

13,548203

2,961

568,257

(168,815)

47,562

17,852

24,15745

1,990

5,723o

o

97,329

3,761

565,584

218,556

314,695

128,103

4,500565

974

20,229

1,060

10,766

480,892

(453,551)

1,279,236

480,434

46,117

4,019

66,322

40,922

1,628

13,727

1,932,405

(741,354)

1,422365

785,927

(122,749)

82,719

(1,753)o

417

9,594

24,213

113,333

183,099

566,445 772,091

(1,753)

207,312417

81,383 33,807 296,432 566,445 978,067

236,713

(96,050)

140,663

Change in Net Position

Net Position, Beginning of Year, as restated

NetPosition,EndofYear $

See hidependentAuditors'Report

(87,432)

99,462

12,030 $

71

37,568

(21,495)

16,073 $

173,683

(173,683)

$

112,894

(334)

112,560 $

@=a:Z'E

6a3,73"5 "i: ,6

?;

e 'a?+sCl51e(:1-(gai

a6

?? z:2 !

l)J

l%ls

u l/'i -z *'l 4'fl Ooal -

I'- 6 m

6;ir;sl !Noon'.o0l Soo -*. h ?l 0?--l :

? l ?'? l -w

&a)

1?l Ncb O # INW 0 0 m

QCD ff

(N .-a € 10Ch -* (X) (Th

# ,,i5r4'?M

(N

?

-l0 r(11) Ce l/i 6

Vi # '6 -* CD

cN M l/i 'e (fi

In

(A

cl : FS ?* ()'l.i'i S S N (N

'o'D>"7% '?>v'iwwl In(haia.iH.l S;?e?l :*

? i ?

#

??l

?' ?'1 Jll""'IJ)"'I

ffi'0 h p N UalVXlTh lfi lli (X)h-z 4 6

-l--'JTh'f

P

m

Vi

l:)i

-t'(Th

l/'i(t). >

4'VX

l't

S

ml'-

Nf

f(N

l'n16

f(11

vsi M

lfil/'i

mVlff

tA

ThfS

INN

(A

€l'-

lfi

'+'N-*f-I

'9Th

171 VX-rl -rl*I -tlTh'l i'Ul 'D? v'i

Ii%

W a

"-l ?".1>l crs

es'=i

lfi

fN

llat

IN

('l

M

In

Oa

Cl)10

(A

yl

i'l'Q € p IN V*

In-* '.0 lfi OaI'-lo---l Rl 0

-l-aN'a6

0Oa

4Th

lfi00IN

(Th

=yi

; II F

1 .4 0 %. , t %Th-i%>W

l' I-

NS

4€

9m

>JIJ

aac !!lo&i-Eoill)wJo@

'j fL::g

EB

u0

Z

'E!;o@ffi-"fmffiQ=a:?b@Ih@,irsm- l/l

'0 'o a0*-gaea'Etigaa)u

6'l'l

j €?

-,- ; az,5 @ <.5 E 7J &i 'aemF;o@,O Hl >

t

(m

e:e

:l

<

E

e

s

=,=l=="l?11

os O oo >l +i"J b '.o 0 M +lN 0 tfi mi

) ', €?Ji:H'l olh < :: €lE- fl

.i=lq='=l=l;"=igll

ri:y i-i't'=igii:iipii'l=l =l=l=='l=f ==l'{

-l

==l?,J=l=='=l=ll'il=?==l=l: Ll?I'f ==l'?

it

111'

m ,a:? ?uA 111'e4 Ill

4E11 '-

"6iii9:", S u

vi?Q5D,{) 51?

,4 ;

E

it

QJ5ai

2i1.'lBT}

i'l *a "? ?,!!l B 3-% () t): O 2";: 0 )A<0

::

r

g

Ei

(/)

slJ='=lJllill';l;)0l

ililp'=l=lJ'lJll

l'aj

0€

(Th0h

,'=,,i? u '?a i0m5? c lJ?

JE g,? 'l) ??l? =? El02,

Ii%

?

C')S

>J

(.1

ffigZyu0o

RoE

"'JEim31J5"5ihC/) W ?'a

-0l'D %b NJ e5 .

.5 z 9?Q %d ratA&i

.ao. 3 a:"'uTh4

<

?

&

<

S

::

i' ?

,Q U

Jti

Bag:l5

, s '4?r

:i E' S;: () A): Q s: Q sA<Q

:.:

lffl

<'

?

::

WE

;0

"ga ffl,g W';"Ia€D

J!?Bs

y, , (11,!!) o;4 3-:s t.) t): 0,: l.) RA<0

;;

1%

B

.::!

.:

'ao !' Eao, g"a 21M sa'? n? ?ab s?J ; a E

," r 11) 0 4),, R > 0 >' m > g >:OJ<Ji<'

.:,J

EE,J

.;j

"o !!i a!'.- u ":. boE 4) # @'a B b 53?e us 0 b

,? i6 !) O 9o s > 0 >," O Ji < J

<

m

.;Cr

JA

.:;

"o !) a!'?'?a? :?? a?'a', '?;;o;.@

-OR I?l s ?

.E 111 6 M," y 11) Q D?, B > i,i >- e1 > i,i >

,' O J;i < J<:

.a

Eo

O

,l vi B o, 'o-11 '-o vzl >IN? ;

Jl.=l"?J.lcil

C/11 I 'a==+-or-l C51'.b 0 tr? 'el yl

iiil >r=>tr?tal ul)le)jl ;':I ElE

gl =l v'i I '.ola514)

fji

{A 641

=l"?l:11

ni'.r>i'.oi-riv'iivii

-l:'aNll.1-l'==l=ffa""lyll

oo 'o Os fl:O Q fl

sra O O fl (?-l"'. tts a?: 0'il '.bi?a? a'??faa" Qol g?l201 t- ,," < !'fl 01>.-Nl >i

M &I!}l

t

'-; ;

;: Q-a

:j'

&

H

E

<&

useQIIDJ 110B'aAl!l

;g ?:aO'

g) 111-ll)-

'm? i 3; g: ?-% 0 11): IJ j: g 2J5(0

g

+Si

,3

In Mr0 <iEl '.olol or01 0hl h

€l01(Nl

M

(Nlet

, 3 :'D

In

iiiiaoiElEl

l)m

0i

El<i

51

lfi

u? ?

art4)l

i-ill)I ,)l5? b?51 81

aeii

a2ilffl

(N€E

*l-11 In

01 In

ni

(=A

tzl yi

v>i v-,i &-}l

Mr

-+l -+Chl Crsi0l 'Oihl tri

t-sr miwi 01'-or ui0'ii >iwi orsr sr

ah

:5

Je

o

ad

:j >&?- -'4-b 'u

jE

.al

E-6j,lCX

a..0

.'JJ

aOa

A€OQa

z)Q11)Et/}Q

Qf=o.Ei

&-)l ii?l it-?l 'fS

M

-m

<

S

aE

,3Q

:}';

ne41lU,g IX

4';..Oll)

7 ag:.EEa'

B 111,, 11)fi3:;

l.la): g 2A<,0

::

m

<

1%m

ES

.:3>q;;(j ';a11).3

JE '4)'?u

m Balj3agesi,.dO

E iti u-mu:O<

<

:.:

(!;E

B

E

ahE

a-;

28;:

-m

-1

S

&

?

>

jCr

Jgn u'"u !!! ei ua? ?: '?",a'aEB?JE M O (}

'ruuD'j-l m > u >iea' O A < J'i

<

#

;ECla

.9n u'"g !' e!l,) Q l-

!-y

oa. C-a" 'a ,b'5 ?

a BJ '11) 6 (-

" iii a) l.) a)?uiul.lD

u rs e? w e'tB>0>:OiB<JIe

<

Statistical Section

li

*

k'!l'ijg'ij /?- 'IP 'Jl

* r

r171

&

'X

% 7 $!, '%

-1l'

2

l

s

l/,:aL

k

4%

,'*l

'Q

r%

4!N1

ll-

% 4l

Financial Trend Data - Financial management through multi-year analyticsl

* Revenue Capacity Data - Our ability to support its activities with current revenue

Debt Capacity Data - Debt burden and capacity for future bonding

Ir

Demographic & Economic Information - Jefferson County residents and econom

Operating Information - Quantitative information about our district

r

j?k

:f?'4

Jefferson County,Public Schools

A'F'?t?

Shaping the Future

Board of Education of leffers on County, Kentucky

Statement of Net Position

Ten Years' Trend Data

Net Position-Gowrnmental

Net investmest in capital assetsRestricted

Unrestricted

Total Net Postion-Gowirnmental

Net Position-ProprietarySchool Food Services

Adult Education

Enterprise PrograrnsTuition Pre-School

Daycare Operations

Total Net Position-Proprietary

Net Position-Total Primary Gowrnment $

$

2015

255,725,319

78,544,164

(204,651,989)

129,617,494

19,036,564

12,030

16,073

112,560

19,l 77,227

148,794,721

$

$

2014

256,413,828 $73,171,127

(205,650,752)

123,934,203

18,999,124

81,453

(24,392)

(202,668)

(16,462)

l 8,837,055

142,771,258 $

2013

228,677,128 $

81,363,249

(196,194,721)

113,845,656

20,995,556

66,915

(23,042)

(224,078)18,734

20,834,085

134,679,741 $

2012

212,188,178 $

86,615,249

(200,031,501)

98,771,926

21,457,951

16,655

(24,542)

(212,419)

(100,132)

21,137,513

119,909,439 $

2011

143,500,299

138,292,201

(181,333,151)

100,459,349

19,574,978

10,754

73,161

(165,054)136,970

19,630,809

120,090,158

Continued

75


?t?Shaping the Future


Statement of Net Position-Continued


Net Position-Gowrnmental

Net investment in capital assetsRestricted

Unrestricted

Total Net Position-Gowrnmental

Net Position-ProprietarySchool Food Services

Adult Education

Enterprise PrograrnsTuition Pre-School

Daycare Operations

Total Net Position-Proprietary

Net Position-Total Primary Gowrnment $

$

2010

145,886,072

86,818,595

(176,215,908)

56,488,759

16,898,110

78,855

(24,542)

(175,217)198,573

16,975,779

73,464,538

$

$

2009

104,398,168 $

90,770,829

(166,841,273)

28,327,724

13,004,503

50,544

(24,542)

(238,201)35,926

12,828,230

41,155,954 $

2008

89,945,354 $

119,975,819

(209,365,425)

555,748

11,475,706

72,397

(24,542)(246,552)

46,201

11,323,210

11,878,958 $

2007

56,390,336 $

133,383,192

(232,431,471 )

(42,657,943)

11,471,148

175,112

(24,542)

(129,045)89,132

11,581,805

(31,076,138) $

2006

50,206,807

56,755,472

(182,950,700)

(75,988,421)

11,528,264

430,973

(24,542)(129,147)

(136,619)

11,668,929

(64,319,492)

76

Jeffersm County.Public Schools

/f+?Shaping the Future


Statement of Activities-Govenimental Activities



Instmction

Student support servicesInstmctional staff

support scrvicesDistrict adrrnnistrative

support servicesSchool administrative

support services

Business support serviccs

Community services

Transportation

Plant operations andmaintenance

Other instmctional

support servicesMisceuaneous

Interest expense

Total governmental activities

Program RevenuesTuition

Operating grantsFacility grants

Total program revenues

Net Expense

Contjnued

$

2015

729,319,975 $60,064,328

133,254,466

7,711,286

94,277,648

33,236,652

16,012,870

87,973,527

108,222,195

34,945

466,078

16,244,178

1,286,818,148

586,509

99,577,458

8,171,637

108,335,604

$ (1,178,482,544) s

2014

633,177,394 $

50,729,048

118,955,171

6,972,822

84,150,967

38,844,491

9,134,416

84,374,237

103,975,188

10,000

3,572,370

14,825,786

1,148,721,890

902,489

104,010,029

7,638,789

112,551,307

(1,036,170,583) $

77

2013

625,366,756 $

51,229,772

126,848,770

6,527,172

86,610,539

43,593,985

11,083,387

85,671,454

105,742,034

54,928

3,785,214

15,146,527

1,161,660,538

1,100,286

130,277,504

7,908,035

139,285,825

(1,022,374,713) $

2012

623,418,868 $

54,160,536

116,883,482

6,710,803

83,704,696

41,172,767

8,791,352

84,51 7,760

108,900,724

334,291

199,367

16,778,960

1,145,573,606

1,738,713

150,396,249

6,999,453

159,134,415

(986,439,191) $

2011

601,363,634

52,377,988

107,964,725

7,442,377

78,484,265

35,599,686

9,727,125

77,970,038

101,928,275

272,702

15,314,561

1,088,445,376

1,197,658

164,772,564

7,216,749

173,186,971

(915,258,405)




State me nt of Activities -Gove rmne ntal Activities -Continue d


Net Expense

General revenues

Taxes

Property taxes

Occupational taxesOther taxes

State sources

SEEK programOther state revenues

Interest and ivestment

earnings

Misce?laneous

Total general revenues


Net position, beginning of year

Net position, end of year $

$

2015

(1,178,482,544) $

397,722,644139,825,24249,482,553

277,043,057311,578,993

1,389,7557,123,591

1,184,165,835

5,683,291

123,934,203

129,617,494 $

2014

(1,036,170,583) $

388,628,855132,569,31246,500,119

270,658,773196,206,023

1,663,95210,032,096

1,046,259,130

10,088,547

113,845,656

123,934,203 $

2013

(1,022,374,713) $

380,134,468128,882,35554,640,894

272,230,951193,512,525

978,2057,069,045

1,037,448,443

15,073,730

98,771,926

113,845,656 $

2012

(986,439,191) $

365,737,213120,452,40034,973,193

273,991,724183,731,465

1,914,0293,951,744

984,751,768

(1,687,423)

100,459,349

98,771,926 $

2011

(915,258,405)

358,237,321116,762,42047,887,9l5

252,901,298

180,801,232

},551548

1,081,261

959,228,995

43,970,590

56,488,759

100,459,349

Continued

78

Jefferson Oounty,Public Schools

A'F'kt?

Shaping the Future

Board of Education of Jeffers on County, Kentucky

State me nt of Activities-Gove rnme ntal Activities-Continue d



Instruction

Student support servicesInstructional staff

support servicesDistrict administrative


support services

Business support services

Comrnunity services

Transportation


Other instmctional

support servicesMiscellaneous

Interest expense

Total governmental activities

Program RevenuesTuition

Operating grantsFacility grants

Totalprogramrevenues

Net Expense

$

$

2010

586,940,824 $

51,213,194

97,416,936

6,712,202

76,618,966

37,261,343

9,332,818

69,694,236

94,416,023

252,475

4,315,433

16,644,665

1,050,819,115

952,947

145,154,703

9,804,218

155,911,868

(894,907,247) $

2009

567,062,406 $

47,260,140

88,301,522

1373,701

74,120,767

36,802,256

8,615,638

70,651,675

99,745,065

258,204

3,175,106

17,747,995

1,021,114,475

1,311,875

110,408,995

9,248,709

120,969,579

(900,144,896) $

79

2008

549,932,851 $

45,509,104

90,993,211

7,130,993

71,838,251

34,326,827

8,670,699

67,519,376

98,100,755

166,191

3,305,599

19,214,136

996,707,993

1,114,407

105,294,200

9,090,946

115,499,553

(881,208,440) $

2007

517,592,355 $

43,244,003

92,089,154

6,905,255

66,309,624

34,986,394

8,224,193

66,646,414

91,125,781

388,031

5,661,500

18,114,794

951,287,498

1,079,992

102,393,400

8,308,984

111,782,376

(839,505,122) $

2006

493,082,823

34,196,099

102,337,492

6,125,608

62,783,662

34,929,686

8,056,206

62,658,644

93,156,097

241,768

784,335

15,007,609

913,360,029

1,576,413

104,314,087

8,042,453

113,932,953

(799,427,076)

Continued


A'F'?l*?

Shaping the Future


S tate me nt of Activitie s -Gove rnme ntal Activitie s -Continue d


Net Expense

General revenues

Taxes

Property taxes


State sources


Interest and jnvestment

earnings

Miscellaneous



Net position, beginnmg of year


$

2010

(894,907,247) $

343,812,796110,682,46243,319,554

241,750,526

175,984,586

2,427,240

5,091,118

923,068,282

28,161,035

28,327,724

56,488,759 $

2009

(900,144,896) $

328,495,070

113,318,876

34,987,134

269,763,902

173,009,074

4,282,113

4,060,703

927,916,872

27,771,976

555,748

28,327,724 $

2008

(881,208,440) $

319,540,044115,133,75636,241,922

265,416,143171,494,761

11,315,475

5,280,030

924,422,131

43,213,691

(42,657,943)

555,748 $

2007 2006

(839,505,122) $ (799,427,076)

294,485,592114,809,53536,834,544

239,847,485162,195,817

12,981,233

11,681,394

872,835,600

33,330,478

(75,988,421)

(42,657,943) $

278,229,137

106,235,305

40,667,124

238,068,370

154,792,792

6,860,125

8,462,185

833,315,038

33,887,962

(109,876,383)

(75,988,421)

80


A'F'?t?

Shaping the Future


Statemem of Activities-Business-Type Activities


Business-type activitiesSchool food services

Adult education

Enterprise programsTuition-based pre-school

Day care operations

Total business-type activities

Program RevenuesLunchroomsales

Tuition and fees

Grants

Total program rcvcnucs

Net Expense

General revenucs

Interest

Transfers In

Miscellaneous


Change * net assets

Net position, beginning ofyear


Continued

2015

$ 62,724,047 s

568,257

97,329

785,927

480,892

64,656,452

5,929,215

1,191,051

53,716,102

60,836,368

(3,820,084)

3,132,142

(687,942)

19,865,169

19,177,227 $

15,502

3,116,640

2014

57,940,891 $

479,264

97,470

721,285

712,447

59,951,357

8,115,697

1,184,280

45,615,744

54,915,721

(5,035,636)

19,302

3,019,304

3,038,606

(1,997,030)

21,862,199

19,865,169 $

81

2013

57,814,952 $

457,769

91,921

898,025

703,320

59,965,987

9,547,373

1,748,815

45,365,186

56,661,374

(3,304,613)

21,294

2,979,891

3,001,185

(303,428)

22,165,627

21,862,199 $

2012

53,687,809 $

652,770

705,302

1,027,844

1,314,653

57,388,378

10,188,86=4

2,666,252

46,004,126

58,859,242

1,470,864

35,840

35,840il

1,506,704

20,658,923

22,165,627 $

2011

48,743,018

886,965

227,840

1,076,500

1,354,524

52,288,847

10,689,363

2,948,205

41,276,054

54,913,622

2,624,775

30,255

30,255

2,655,030

18,003,893

20,658,923


A?+t?

Shaping the Future


Statement of Activities-Business-Type Activities-Continued


Business-type activitiesSchool food services

Enterprise programsAdult education

Tuition-based pre-schoolDay care operations

Total bus ines s -type activitiei

Program RevenuesLunchroomsales

Tuition and fees

Grants

Total program revenues

Net Experise

General revenues

Interest

Transfers In

Mis ceuaneous


Change in net pos ition


Net pos ition, end of year $

2010

$ 46,664,227 $818,928

?,747,773

985,099

50,216,027

22,078

(52,221)

(30,143)

4,147,549

13,856,344

18,003,893 $

11,072,5093,141,576

40,179,634

54,393,719

4,177,692

2009

48,578,438 $

602,040

1,897,467

935,317

52,013,262

12,103,704

2,934,741

38,367,708

53,406,153

1,392,891

32,385

79,744

112,129

1,505,020

12,351,324

13,856,344 $

82

2008

43,978,315 $

850,873

1,606,645

775,998

47,211,831

12,728,447

2,821,077

31,129,463

46,678,987

(532,844)

219,327

54,922

274,249

(258,595)

12,609,919

12,351,324 $

2007

42,589,437 $

1,031,214

1,220,000

1,110,925

45,951,576

12,471,226

3,200,535

29,841,671

45,513,432

(438,144)

294,215

56,805

351,020

(87,124)

12,697,043

12,609,919 $

2006

39,037,601

1,067,753

1,092,906

41,198,260

11,667,458

1,945,866

25,867,544

39,480,868

(1,717,392)

277,522

2,980,131

65,532

3,323,185

1,605,793

11,091,250

12,697,043


??Shaping the Future


Statement of Activities-Total Primary Govermnent


2015 2014 2013 2012 2011

Primary government activitiesInstmction

Student support servicesInstmctional staff



support services

Business suppork services

Community services

Transportation


Other

School Food services

Adult education

Enterprise programsTuition-based pre-schoolDay care operationsInterest expense

$ 729,319,975

60,064,328

133,254,466

7,711,286

94,277,648

33,236,652

16,012,870

87,973,527

108,222,195

501,023

62,724,047

568,257

97,329

785,927

480,892

16,244,178

$ 633,177,394

50,729,048

118,955,171

6,972,822

84,150,967

38,844,491

9,134,416

84,374,237

103,975,188

3,582,370

54,921,587

479,264

91470

721,285

7?2,447

14,825,786

$ 625,366,756

51,229,772

126,848,770

6,527,172

86,610,539

43,593,985

11,083,387

85,671,454

105,742,034

3,840,142

54,835,061

457,769

91,921

898,025

703,320

15,146,527

$ 623,418,868

54,160,536

116,883,482

6,710,803

83,704,696

41,172,767

8,791,352

84,517,760

108,900,724

533,658

53,687,809

652,770

705,302

1,027,844

1,314,653

16,778,960

$ 601,363,634

52,377,988

107,964,725

1442,377

78,484,265

35,599,686

9,727,125

71970,038

101,928,275

272,702

48,743,018

886,965

227,840

1,076,500

1,354,524

15,314,561

Total primary activities 1,351,474,600 1,205,653,943 1,218,646,634 1,202,961,984 1,140,734,223

PmgramrevenuesLunchmomsales

Tuition and fecs

Grants

5,929,215

1,777,560

161,465,197

8,115,697

2,086,769

157,264,562

9,547,373

2,849,101

183,550,725

10,188,864

4,404,965

203,399,828

10,689,363

4,145,863

213,265,367

Totalpmgramrevenues

Net Hxpense

169,171,972

$ (1,182,302,628)

167,467,028 195,947,199

$ (1,038,186,915) $ (1,022,699,435)

83

217,993,657

$ (984,968,327) $ (912,633,630)

228,100,593

Continued

Jefferson CounfyPublic Schools



Statement of Activities -Total Primary Government-Continued


2010 2009 2008 2007 2006

Pr'mary government activitieshistmction

Student support serviccsInstructional staff



support services

Business support servicesCon'imunity services

Transporkation

Plant operations andrnaitenance

Other

School Food services

Adult education

Enterprise programs

Tuition-based pre-schoolDay care operationsI[nterest expense

Total primary activities

$ 586,940,824

51,213,194

97,416,936

6,712,202

76,618,966

37,261,343

9,332,818

69,694,236

94,416,023

4,567,908

46,664,227

818,928

1,741773

985,099

16;644,665

1,101,035,142

$ 567,062,406

47,260,140

88,301,522

1373,701

74,120,767

36,802,256

8,615,638

70,651,675

99,745,065

3,433,310

48,578,438

602,040

1,897,467

935,317

11747,995

1,073,121737

$ 549,932,851

45,509,104

90,993,211

7,130,993

71,838,251

34,326,827

8,670,699

67,519,376

98,100,755

3,471,790

43,978,315

850,873

1,606,645

775,998

19,214,136

1,043,919,824

$ 517,592,35543,244,003

92,089,154

6,905,255

66,309,624

34,986,394

8,224,193

66,646,414

91,125,781

6,049,531

42,589,437

1,031,214

1,220,000

1,110,925

18,114,794

997,239,074

$ 493,082,823

34,196,099

102,337,492

6,125,608

62,783,662

34,929,686

8,056,206

62,658,644

93,156,097

1,026,103

39,037,601

1,067,753

1,092,906

15,007,609

954,558,289

Program revenuesLunchroom sales

Tuition and fees

Grants

11,072,509

4,094,523

195,138,555

12,103,704

4,246,616

158,025,412

12,728,447

3,935,484

145,514,609

12,471,226

4,280,527

140,544,055

11,667,458

3,522,279

138,224,084

Total program rcvcnues 210,305,587 174,375,732 162,178,540 157,295,808 153,413,821

Net Expense $ (890,729,555) $ (898,752,005) $ (881,741,284) $ (839,943,266) $ (801,144,468)

Continued84

Jefferson County,Public Schook,



Statement of Activities-Total Primary Goveniment-Continued


Net Expense

General revenues

Taxes

Property taxes


State sources


Interest and ivestment

earnings

District supportMiscellaneous





2015 2014

$ (1,182,302,628) $ (1,038,186,915) $

397,722,644

139,825,242

49,482,553

277,043,057

311,578,993

1,405,257

10,240,231

1,187,297,977

4,995,349

143,799,372

148,794,721 $

388,628,855

132,569,312

46,500,119

270,658,773

196,206,023

1,683,254

10,032,096

1,046,278,432

8,091,517

135,707,855

143,799,372 $

2013 2012 2011

(1,022,699,435) $ (984,968,327) $ (912,633,630)

380,134,468

128,882,355

54,640,894

272,230,951

193,512,525

999,499

7,069,045

1,037,469,737

14,770,302

120,937,553

135,707,855 $

365,737,213

120,452,400

34,973,193

273,991,724

183,731,465

1,949,869

3,951,744

984,787,608

(180,719)

121,118,272

120,937,553 $

358,237,321

116,762,420

47,887,915

252,901,298

180,801,232

1,587,803

1,081,261

959,259,250

46,625,620

74,492,652

121,118,272

Contiued

85

Jeffe.rson County,Pubric Schools



Statement of Activities-Total Primary Goveniment-Continued


Net Expense

General revenues

Taxes

Property taxes


State sources


Interest

District supportMisceuaneous



Net position, beginnig of year

Net position, end of year

2010

$ (890,729,555) $

$

343,812,796

110,682,462

43,319,554

241,750,526

175,984,588

2,449,318

5,038,895

923,038,139

32,308,584

42,184,068

74,492,652 $

2009

(898,752,005) $

328,495,070113,318,87634,987,134

269,763,902

173,009,074

4,314,498

4,140,447

928,029,001

29,276,996

12,907,072

42,184,068 $

2008 2007 2006

(881,741,284) $ (839,943,266) $ (801,144,468)

319,540,044

115,133,756

36,241,922

265,416,143

171,494,761

11,534,802

5,334,952

924,696,380

42,955,096

(30,048,024)

12,907,072 $

294,485,592

114,809,535

36,834,544

239,847,485

162,195,817

13,275,448

11,738,199

873,186,620

33,243,354

(63,291,378)

(30,048,024) $

278,229,137

106,235,305

40,667,124

238,068,370

154,792,792

7,137,(547

2,980,131

8,527,7l7

836,638,223

35,493,755

(98,785,133)

(63,291,378)

86

Jefferson CounfyPublic School:s

A?t?

Shaping the Future


Balance Sheet-Governmental Activities


2015 2014 2013 2012 2011

Assets

Cash and investments

Accounts and grants receivablePrepaid expendituresInventories


Total Assets

$ 277,628,167

37,7 11,654

4,203,103

3,704,679

129,238,358

$ 452,485,961

$ 306,906,497

32,847,816

4,556,994

4,335,648

109,339,833

$ 457,986,788

$ 279,036,973

36,686,755

3,019,703

4,958,930

112,763,357

$ 436,465,718

$ 290,701,542

43,397,301

2,741,976

5,026,350

127,704,525

$ 469,571,694

$ 331,934,581

46,609,998

2,375,158

4,426,882

168,930,546

$ 554,277,165

Liabilities

Accmed liabilities

Due to other funds

Defer?ed revenue

Total Liabilities

$ 104,580,712

124,267,169

228,847,881

$ 110,290,529103,504,919

213,795,448

$ 110,169,011106,609,314

216,778,325

$ 111,968,326125,148,029

11,268,926

248,385,281

$ 95,632,934167,174,848

12,633,149

275,440,931

FundBalances


Capital Pro5ects FundSpecial Revenue Funds

AssignedComrnitted

Unassigned, General Fund

Total Fund Balances

Total Liabilities and Fund Balances

7,907,782

92,954,598

11,475,601

17,456,000

36,000,000

57,844,099

223,638,080

$ 452,485,961

8,892,642

107,817,40216,293,378

8,737,485

36,000,000

66,450,433

244,191,340

$ 457,986,788

87

7,978,633

44,650,625

44,810,633

18,078,918

36,000,000

68,168,584

219,687,393

$ 436,465,718

7,768,326

53,546,380

54,724,154

36,000,000

69,147,553

221,186,413

$ 469,571,694

6,802,040

89,067,365

65,332,512

36,000,000

81,634,317

278,836,234

$ 554,277,165

Continued

Jefferson County.Public Schools

/f'+t?

Shaping the Future


Balance Sheet-Govermnental Activities-Continued


2010 2009 2008 2007 2006

Assets

Cash and investments

Accounts and grants receivablePrepaid expendituresInventories


$ 280,532,347

42,867,310

4,221,212

4,432,914

127,908,470

$ 288,387,580

36,649,922

2,733,446

4,508,767

145,551,530

$ 250,364,318 $

36,181,139

3,310,581

4,930,086

158,512,659

236,063,791

60,361,542

3,434,397

5,029,809

164,302,157

$ 155,735,353

46,765,083

2,781,250

6,155,699

113,193,845

Total Assets $ 459,962,253 $ 477,831,245 $ 453,298,783 $ 469,191,696 $ 324,631,230

Liabilities

Accounts payable and accmed liabilitiesDue to other funds

Deferred revenue

$ 93,101,911

125,790,230

12,711,967

$ 84,532,524

143,079,045

10,920,210

$ 56,420,516 $

155,972,801

15,832,634

73,205,298

162,373,298

18,899,907

$ 55,905,512

111,138,392

17,922,923

Total Liabilities 231,604,108 238,531,779 228,225,951 254,478,503 184,966,827

FundBalances


Capital Projects FundSpecial Revenue Funds

AssignedCo mm't t e d

Unassigned, General Fund

8,654,126

15,682,456

51,992,267

36,000,000

26,191,701

89,837,595

7,242,213

65,233,(540

19,365,290

35,800,000

32,777,8?7

78,880,506

8,240,667

101,817,244

35,800,000

31,111,905

48,103,016

8,464,206

110,518,518

592,827

23,800,000

37,830,853

33,506,789

8,936,949

31,831,488

230,306

23,800,000

32,316,334

42,549,326

Total Fund Balances 228,358,145 239,299,466 225,072,832 214,713,193 139,664,403

Total Liabilities and Fund Balances $ 459,962,253 $ 477,831,245 $ 453,298,783 $ 469,191,696

88

$ 324,631,230


K>m

Shaping the Future


Statement of Revenues, Expenditnns and Changes in Fund Balances-Govermnental Activities


2015 2014 2013 2012 2011

Revenues

Local sources

Pmpeity taxes


Grants from local agencies and donorsState sources

SEEK programOther state resources

Grants

Interest

Other sources

$ 397,722,644

139,825,24249,482,553

8,435,955

277,043,057229,841,53591,141,503

1,389,75511,654,931

$ 388,628,855

132,569,312

46,500,1199,881,427

270,658,773203,844,812

94,128,6021,663,952

10,814,937

$ 380,134,468

128,882,35554,640,89411,197,615

272,230,951201,420,560119,079,889

978,20511,046,052

$ 365,737,213

120,452,40034,973,19310,762,323

273,991,724190,730,918139,633,926

1,914,029

12,903,594

$ 358,237,321

116,762,42047,887,915

9,354,941

252,901,298188,017,981155,417,623

1,557,54810,154,529

Total Revenues 1,206,537,175 1,158,690,789 1,179,610,989 1,151,099,320 1,140,291,576

ExpendituresInstruction

Student support servicesInstmctional staff support services

District administrative support servicesSchool administrative support servicesBusiness support servicesCommunity ServicesTransportation

626,202,62553,898,592

136,595,7874,074,121

86,706,81140,124,691

9,785,79980,815,562

599,752,77150,904,421

125,814,9403,643,083

85,727,500

42,730,7149,605,723

85,953,279

588,571,94151,190,099

124,783,834

3,09175885,986,39642,920,0679,741355

79,557,078

592,126,99054,328,820

122,772,3263,409,083

85,432,98843,684,780

9,809,15187,314,648

576,492,67452,611,443

112,615,6844,546,755

79,446,24631491739

9,483,89977,350,835

Continued

89

Jefferson CountyPublic Sctxxfi


Board of Bducation of Jefferson County, Kentucky

Statement of Revenues, Expenditures and Changes in Fund Balances-Governmental Activities-Continued


2015 2014 2013 2012 2011

Expenditures-ContinuedPlant operations and maintenance

Other istmctional support servicesBuilding renovationsOther

Debt servicc

PrincipalInterest

Total Expenditures

OtherFiancing Sources (Uses)

Bond proceeds net ofdiscounts and refunding issuesTransfers in

Transfers out

Total Other Fiancmg Sources (lJses)

Net Change m Fund Balances

Fund Balances , Begmning of Year

FundBalances,EndofYear

Ratio oftotal debt servicc expenditures tototal noncapital expenditures

Contjnued

18,645,850

53,480,763

(56,597,403)

15,529,210

(20,553,260)

244,191,340

$ 223,638,080

107,834,439

27,404

47,130,013

3,475,119

29,914,485

16,034,197

1,242,619,645

0.040

103,957,976

10,000

48,640,389

3,358,550

34,623,248

15,265,077

1,209,987,671

78,820,133

71555,249

(80,574,553)

75,800,829

24,503,947

219,687,393

$ 244,191,340

0.044

$

105,710,395

54,928

60,142,086

3,754,979

34,170,699

16,023,720

1,205,711,335

27,581,217

112,371,790

(115,351,681)

24,601,326

(1,499,020)

221,186,413

219,687,393

0.044

$

108,826,313

335,179

63,027,554

3,899,135

27,060,652

17,058,154

1,219,085,773

13,383,020

64,712,448

(67,758,836)

10,336,632

(57,649,821)

278,836,234

221,186,413

0.042

$

101,796,786

272,702

47,050,306

4,?64,745

25,155,984

15,655,119

1,144,140,917

57,327,491

134,838,548

(137,838,609)

54,327,430

50,478,089

228,358,145

278,836,234

0.040

90

Jeffe.rson CounfyPublic Schools

A'F'k?Shaping the Future

Board of Bducation of Jefferson County, Kentucky

Statement of Revenues, Expenditures and Changes in Finid Balances-Govenirr?ntal Activities-Continued


2010 2009 2008 2007 2006

Revenues

Local sources

Pmperty taxes


Grants from local agencies and donorsState sources

SEEKpmgramOther state resources

Grants

Interest

Other sources

$ 343,812,796110,682,46243,319,55411,012,824

241,750,526185,788,804134,141,879

2,427,240

9,564,573

$ 328,495,070

113,318,87634,987,134

269,763,902182,257,783110,408,995

4,282,113

8,542,154

$ 319,540,044

115,133,75636,241,922

265,416,143180,585,707106,408,607

11,342,8158,221,034

$ 294,485,592

114,809,53536,834,544

239,847,485170,504,801103,473,392

12,916,393

14,452,024

$ 278,229,137

106,235,30540,667,124

238,068,370162,835,245

105,890,5006,897,625

8,093,260

Total Revenues 1,082,500,658 1,052,056,027 1,042,890,028 987,323,766 946,916,566

Expenditureshistmction

Student support servicesInstmctional staff support services

District administrative support servicesSchool administrative support servicesBusiness support servicesCommunity ServicesTransportation

560,927,57851,321,43999,322,8224,221 127

77,604,813

37,661,7809,174,771

68,806,202

537,594,69047,333,61989,346,483

4,950,10974,49?,05537,218,693

8,459,50967,270,903

523,160,93445,760,603

94,128,3544,640,642

72,310,51436,111,058

8,530,68365,255,946

492,214,62043,240,18491,942,870

4,590,76366,303,76834,967,5968,018,509

62,223,402

465,024,42934,136,92898,191,644

4,067,74362,718,82933,872,733

7,966,38155,929,029

Contiued

91

Jeffe?rson Coun'ff jPublic ?s

KF+t?

Shaping the Future


Staternent of Revenues, Expenditures and Changes in Finid Balances-Govermnental Activities-Continued


2010 2009 2008 2007 2006

Expenditures-ContiuedPlant operations and maintenanceOther istmctional support servicesCapital outlayOther

Debt service

PricipalInterest

Total Expenditures

Other Fmancing Sources (Uses)Pmceeds fromsaleofpropertyBond proceeds net of discounts and refunding issuesTransfers m

Transfers out

Total Other Financing Sources (Uses)

Net Cbange in Fund Balances

FundBalances,BeginningofYear

Fund Balances, End of Year

Ratio of total debt service expenditures tototal noncapital expenditures

$

94,181,196

275,380

39,087,629

4,373,144

26,651,664

17,281,673

1,090,897,218

531,824

109,483,200

(112,559,785)

(2,544,761)

(10,941,321)

239,299,466

228,358,145

0.043

$

99,720,515

258,204

36,512,883

3,176,426

24,384,579

18,853,867

1,049,571,535

14,911,718

51,622,374

(54,791,950)

11,742,142

14,226,634

225,072,832

239,299,466

0.043

98,549,474

166,872

35,497,582

3,439,877

24,349,338

18,755,506

1,030,657,383

1,068,000

47,221,881

(50,162,887)

(1,873,006)

10,359,639

214,713,193

$ 225,072,832

0.044

90,612,231

388,023

50,1( 1,464

5,900,875

21,112,011

17,634,208

989,253,524

294,380

79,509,491

75,100,768

(77,926,091)

76,978,548

75,048,790

139,664,403

$ 214,713,193

0.042

92,124,980

241,768

33,630,519

660,806

18,857,012

15,240,661

922,663,462

368,925

59,881,742

(62,862,373)

(2,611,706)

21,641,398

118,023,005

$ 139,664,403

0.038

92

Jefferson County,Public Sctxx>ls

A?k?Shaping the Future


General Goveniment Expenses by Functionl


2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

Iititmction

$ 729,319,975

633,177,394

625,366,756

623,418,868

601,363,634

586,940,824

567,062,406

549,932,851

517,592,355

$ 493,082,823

Student

SupportServices

$ 60,064,328

50,729,048

51,229,772

54,160,536

52,377,988

51,213,194

47,260,140

45,509,104

43,244,003

$34,196,099

Instmctional

Staff SupportServices3

$133,254,466118,955,171126,848,770

116,883,482

107,964,725

97,416,936

88,301,522

90,993,211

92,089,154

$102,337,492

District

Administrative

Support Services

$

$

7,711,286

6,972,822

6,527,172

6,710,803

7,442,377

6,712,202

7,373,701

7,130,993

6,905,255

6,125,608

School

Administrative

Suppork Services

$ 94,277,648

84,150,967

86,610,539

83,704,696

78,484,265

76,618,96674,120,767

71,838,251

66,309,624

$ 62,783,662

Business

SupportServices2

$ 33,236,652

38,844,491

43,593,985

41,172,767

35,599,686

37,261,343

36,802,256

34,326,827

34,986,394

$ 34,929,686

l

Coimnunity.2

Services

$16,012,870

9,134,416

11,083,387

8,791,352

9,727,125

9,332,818

8,615,6388,670,699

8,224,193

$ 8,056,206

Transportation

$ 87,973,527

84,374,237

85,671,454

,84,51 7,760

77,970,O38

69,694,236

70,651,675

67,519,376

66,646,414

$ 62,658,644

Plant Operationsand Maintenance

$ 108,222,195103,975,188105,742,034108,900,724101,928,27594,416,02399,745,06598,100,755

91,125,78193,156,097$

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

Other

Instmctional

Support Services

$

$ 10,000

54,928

334,291

272,702

252,475

258,204

166,191

388,031

$ 241,768 $

Other

501,023

553,066

805,323

199,367

4,315,433

3,175,106

3,305,599

5,661,500

784,335

Interest

$ 16,244,178

14,825,786

15,146,527

16,778,960

15,314,561

16,644,665

1 7,747,995

19,214,136

18,114,794

$ 15,007,609

School Food

Services

$ 62,724,04757,940,89157,814,952

53,687,809

48,743,018

46,664,227

48,578,438

45,436,764

42,589,437

$ 39,037,601

Adult Education"

$ 568,257

479,264

457,769

652,770

886,965

818,928

602,040

850,873

1,031,214

$ 1,067,753

EnterprisePrograrns

$ 97,32997,47091,921

705,302

$ 227,840

Tuition-based

Pre-school

$

$

785,927

721,285

898,025

1,027,844

1,076,500

1,747,773

1,897,467

1,606,645

1,220,000

1,092,906

Daycare

Operations'

$ 480,892

712,447

703,320

1,314,653

1,354,524

985,099

935,317

775,998

$ 1,110,925

Total

$1,351,474,6001,205,653,9431,218,646,6341,202,961,9841,140,734,2231,101,035,1421,073,127,737

1,045,378,273

997,239,074

$ 954,558,289

I

General governmen( includes all governmental and enterprise funds.a Due to functiona} data reclassifications, Community Sersrices and Adult Educa(ion expenses are now discree(ly presen(ed.

Also, Central Office Suppor( Serviccs were reclassified to either Business %port Services or Instruc(ional Staff SupportServices depending on the na(ure of the expense. Daycarc Opera(ions was segega(ed as a fund in 2007.

93

Jefferson County,Public Schooh

A'F'?t?

Shaping the Future

Board of Education of lefferson County, Kentucky

1General Government Revenues by Type


Charges forService

OperatingGrants &

Contributions Property TaxesOccupational

Taxes Other Taxes

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

$

$

7,706,775

10,202,466

12,396,474

14,593,829

14,835,226

15,167,030

16,350,320

16,663,931

16,751,753

15,189,737

$ 161,465,197157,264,562

183,550,725

203,399,828

213,265,367

195,138,555

158,025,412

145,514,609

140,544,055

$ 138,224,084

$ 397,722,644388,628,855

380,134,468

365,737,213

358,237,321

343,812,796

328,495,070

319,540,044

294,485,592

$ 278,229,137

$ 139,825,242132,569,312

128,882,355

120,452,400

116,762,420

110,682,462

113,318,876

115,133,756

114,809,535

$ 106,235,305

$

$

49,482,553

46,500,119

54,640,894

34,973,193

47,887,915

43,319,554

34,987,134

36,241,922

36,834,544

40,667,124

SEEK State

Revenues

Other State

Revenues hiterest Incorne Other Revenues Total

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

$

$

277,043,057

270,658,773

272,230,951

273,991,724

252,901,298

241,750,526

269,763,902

265,416,143

239,847,485

238,068,370

$ 311,578,993

196,206,023

193,512,525

183,731,465

180,801,232

175,984,586

173,009,074

171,494,761

162,195,817

$ 154,792,792

$

$

1,389,755

1,683,254

999,499

1,949,869

1,587,803

2,449,318

4,314,498

11,534,802

13,275,448

7,137,647

$ 10,240,231

10,032,0967,069,045

3,951,744

1,081,261

5,038,899

4,140,446

5,334,952

11,738,199

$ 8,527,7?7 $

$ 1,356,454,447

1,213,745,4601,233,416,9361,202,781,2651,187,359,843

1,133,343,7261,102,404,732

1,086,874,920

1,030,482,428

987,071,913

lGeneral government includes au govemrrental and enterpris e funds.

94

.bfferson county,Public Schools>



Properly Tax Rates


Real

Estate'

Tangiblel

Property

Motor

Vehicle'

Weightedkverage

1TaxRates

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

71.0

71.0

70.0

67.7

67.6

64.6

62.5

61.5

61.5

62.5

71.0

71.0

70.0

67.7

67.6

64.6

63.1

62.7

62.5

62.5

58.5

58.5

58.5

58.5

58.5

58.5

58.5

58.5

58.5

58.5

69.2

69.2

69.2

67.1

67.0

64.2

62.3

61.4

61.4

62.2

Real estate & personal property taxes are the District's largest revenue

source. Each year's taxrates are approved in September by vote of the

elected Board of Education. Statutorily, rates may not be raised to an

extent that total revenues are increased by 4% or the taxis subject to

referendum

' Cents per $100 assessment

95

Jefferson?CountyJPublic Sdxxfi

A'F"kt?

Shaping the Future


Real Estate and Personal Property Tax Revenues


Amount Levied

Collections as

of the End of

the Levy Year

Total Tax

Omitted and Revenue

Levy Year Delinquent Tax Received DuringPercent Revenue Fiscal Year

Total

Percent

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

$ 427,603,120417,767,614407,196,257388,891,7623881686)000372,618,205353,265,558331,952,691311,661,729

$ 298,417,199

$ 406,858,768396,380,679394,226,682365,959,755365,659,038350,848,363334,162,837324,755,796304,482,002

$ 287,367,702

95.l%

94.9%

96.8%

94.l%

94.1%

94.2%

94.6oA

97.8oA

97.7%

96.3% $

$ 11,523,77111,872,79014,330,06111,167,813

16,066,413

14,214,131

6,326,961

7,770,925

2,888,385

9,754,696

$ 418,382,539

408,253,469

408,556,743

377,127,568

381,725,451

365,062,494

340,489,798

332,526,721

307,370,387

$ 297,122,398

97.8%

97.7%

100.3%

97.O%

98.2%

98.0%

96.4%

lOO.2%

98.6%

99.6%

Tax couections consist of property taxes and franchise taxes. These revenues are split between GeneralFund and Buildig Fund in the Financial Section, where franchise taxes are mcluded with Other Taxes.

Omitted and delinquent taxes are remitted to the District when couected by our tax collection agencies.These collections are not identified by year, occasionauy resulting in the percent of couectionsexceeding 100%.

96


A'F"?t?

Shaping the Future


Pmperty Tax Assessments


2015

2014

2013

2012

2011

2010

2009

2008

2007

2(X)6

R6B1 Estate

$ 52,476,956,21951,682,382,45651,164,832,69750,799,225,63451,091,571,41751,175,707,18350,142,467,45847,853,526,35844,983,8?4,699

$ 41,668,410,587

TangiblePersonal

$ 4,711,452,0194,879,662,1284,627,273,2684,409,010,9614,258,337,4474,617,662,5404,519,550,5654,363,581,7453,936,902,343

$ 3,888,132,905

Franchise

$ 2,096,989,8992,003,135,9482,089,543,0362,002,889,0981,985,651,2051,760,046,9621,676,893,9201,562,176,5651,584,198,565

$ 2,054,796,625

Motor Vehicle

$ 4,729,846,2854,564,604,6804,408,198,2904,152,621,4203,983,352,4193,820,374,0574,302,728,8794,125,805,1044,061,034,858

$ 3,8(A,744,273

Distiued

Spirits

$ 280,681,766268,980,462289,244,918232,266,030162,368,932127,420,076127,420,07688,173,35487,775,058

$ 89,264,709

Total Assessed

Value

$ 64,295,926,18863,398,765,67462,579,092,20961,596,013,14361,481,281,42061,501,210,81860,769,060,89857,993,263,12654,653,725,523

$ 51,565,349,099

Estimated Actual

Value

$ 64,295,926,18863,398,765,67462,579,092,20961,596,013,14361,481,281,42061,501,210,81860,769,060,89857,993,263,12654,653,725,523

$ 51,565,349,099

WeightedAveragc Tax

Rate Applied toAssessments

(cents per $100assessment)

70.08

70.10

69.19

67.08

67.01

64.22

62.28

61.41

61.38

62.20

Source: Jefferson County Property %luation Adm inistration

97


A'F'?m

Shaping the Fututae


Propeity Taxes, As Assessed


Real Estate

Tangible

Property Franchise Motor Vehicle

Distilled

Spirits

Total PropertyTaxes as

Assessed

Estirnated Actual

Tax Value

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

$ 367,338,694361,776,677358,153,829343,910,758345,379,023330,595,068313,390,422294,299,187

276,650,460

$ 260,427,566

$ 32,980,16434,157,63532,390,91329,849,00428,786,36129,830,10028,518,36427,359,65824,605,640

$ 24,300,831

$ 14,678,92914,021,952

14,626,801

13,559,559

13,423,002

11,369,903

10,581,201

9,794,847

9,901,241

$ 12,842,479

$ 27,669,601

26,702,937

25,787,960

24,292,835

23,302,612

22,349,188

25,170,964

24,135,960

23,757,054

$ 22,608,754

$

$

1,964,772

1,882,863

2,024,714

1,572,441

1,097,614

823,134

804,021

552,847

548,594

557,904

$ 444,632,160438,542,064432,984,217413,184,597411,988,612394,967,394378,464,972356,142,498335,462,989

$ 320,737,534

$ 444,632,160438,542,064432,984,217413,184,597411,988,612394,967,394378,464,972356,142,498335,462,989

$ 320,737,534

Source.' Assessments from Jefferson Couny Properffl Valuation Adm inistration multiplied by tax rates

98

ffi

Jefferson County JPublic S?ls

/f+t?

Shaping the Future


Principal Real Estate Taxpayers

For the fiscal year ended June 30, 2015

Company

Percent of

2014-15 School Total

TaxPaid Revenues 2013-14 2012-13 2011-12 2010-11 2009-10 2008-09 2007-08 2006-07

Louisville (3as & Electric

AT&T

Insight Midwest LPDiage AmericasHumana

BT PmpertyUnited Parcel Service

Galt House

KBSI National CityOptirna 500

$ 7,425,245

1,379,3431,270,617

933,419931,639897.653

831,367

758,816

741,648

720,775

1.7%

0.3%

0.3%

0.2%

0.2oA

0.2%

0.2oA

0.2%

0.2%

0.2%

**

**

**

**

779,381

1,191,344

897,930

671,005

751,464**

$ 13,319,323**

**

**

920,799

81 7,270

1,621,721

423,544**

**

**

2,352,538

1,267,377**

655,877

775,222

1,228,844**

**

**

$ 5,991,821

2,352,5381,261377

**

979,751**

823,561**

**

lllk

$ 4,769,000**

**

**

1,187,779

590,411

595,519**

**

**

$ 4,608,007**

**

**

924,888

580,964

780,917**

**

**

$ 4,320,022

3,015,101**

*k

702,743

400,422

390,471**

**

**

$ 3,762,218

3,081,2681,203,727

**

698,450**

864,140**

lllk

**

* * For years marked, taxpayer was not one of the principal taxpayers to the Board.

Percent of total revenues is based on percent of total real cstate andotherpmperty taxes as fouows:

Property taxesOther taxes

$

$

397,722,644

49,482,553

447,205,197

Source: Jefferson County Sheriff

99


A'+t?

Shaping the Future


Overlapping Tax Rates

For TaxYear 2014

Real

Estate'

Tangiblel

Property

Motor

Vehicle'Tangible Motor

Estate' Property' Vehicle'Real

Jefferson County Board of Education - total direct rate of largest own source rewnue (cents per $100 property ass es sment)Metro Louisville Govemrnent 12.55 16.60 16.60 aenview

Anchorage 41.60 41.60 41.60 GlenviewHillsAudubon Park 29.40 0.00 28.30 Glenview Manor

Bancroft 37.30 0.00 0.00 Goose Creek

Barboumieade 20.90 0.00 0.00 Graymoor-Devondale

BeechwoodVillage 13.00 0.00 0.00 GreenSpringBeuemeade 7.50 0.00 0.00 Heritage CreekBellewood 19.00 0.00 0.00 Hickory HillBlueRidgeManor 20.00 0.00 0.00 Hills andDalesBriarwood 29.00 0.00 0.00 Houow Creek

Broeck Poite 21.50 0.00 0.00 Houston Acres

Brownsboro Fami 26.60 0.00 0.00 Hurstboume

BrownsboroVillage 20.70 0.00 0.00 HurstboumeAcresCambridge 20.20 0.00 0.00 Indian HillsColdstream 13.00 0.00 0.00 Jeffersontown

Creekside 22.00 0.00 0.00 KingsleyCrossgate 22.50 0.00 0.00 Langdon PlaceDouglas Hills 13.90 0.00 0.00 LincolnshireDmidHills 12.50 0.00 0.00 LyndonFincastle 20.00 0.00 0.00 LynnviewForest Hills 15.00 0.00 2.00 Manor Creek

71.00

13.00

11.00

18.00

17.00

20.00

18.70

20.30

23.80

20.70

34.00

20.60

18.50

14.00

20.00

14.78

33.00

28.00

22.00

13.00

29.70

30.00

71.00

0.00

0.00

o.oo

o.oo

0.00

0.00

0.00

0.00

o.oo

0.00

0.00

o.oo

0.00

0.00

o.oo

0.00

0.00

o.oo

0.00

11.90

o.oo

58.50

o.oo

o.oo

0.00

0.00

o.oo

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

11.90

0.00


Continued100

-Aefferson County,Public Schools>



Overlapping Tax Rates-Continued

For TaxYear 2014

Real

Estatel

Tangible

Property'Motor

Vehicle'Tangible

Estatel PropertylReal Motor

Vehicle'

Maryhill EstatesMeadow Vale

Meadowbrook Farrn

Meadowview Estates

Middletown

Mockingb#d ValleyMoorlgnd

Murray HillNorthfield

Norboume Estates

Norwood

Old Brownsboro Place

Parkway VillagePlontation

Poplar Hills

ProspectRichlawn

Riverwood

Rolling FieldsRoujng HillsSaint Matthews

15.00

14.00

7.30

13.10

13.50

14.66

24.00

19.90

18.50

19.00

19.50

34.00

17.60

30.00

0.00

21.25

15.00

19.41

13.50

19.30

20.00

o.oo

0.00

0.00

o.oo

0.00

14.66

0.00

o.oo

0.00

0.00

0.00

o.oo

0.00

0.00

0.00

0.00

0.00

0.00

o.oo

0.00

0.00

0.00

0.00

0.00

o.oo

0.00

0.00

o.oo

0.00

0.00

0.00

0.00

0.00

0.00

o.oo

0.00

0.00

0.00

0.00

0.00

0.00

o.oo

Saint Regis ParkSeneca Cardens

ShivelySpring MillSpring VaueyStrathmoor Manor

Strathmoor WlageSycarnoreTen Broeck

Thomhill

Watterson Park

WellingtonWest Buechel

Westwood

Wildwood

Windy HillsWoodland Hills

Woodlawn Park

Worthington HillsAnchorage Ambulance DistrictAnchorage Fire District

13.70

21.31

33.90

20.00

?7.78

38.20

25.00

0.00

10.57

12.00

9.60

21.84

20.00

16.50

16.10

17.00

13.24

18.88

29.00

8.50

10.00

o.oo

0.00

36.30

o.oo

0.00

0.00

o.oo

o.oo

0.00

0.00

6.50

0.00

0.00

0.00

0.00

0.00

0.00

0.00

o.oo

8.50

10.00

0.00

0.00

36.30

o.oo

0.00

0.00

o.oo

0.00

0.00

o.oo

7.50

0.00

o.oo

0.00

0.00

o.oo

0.00

0.00

o.oo

8.50

10.00


Continued101

p

,tefferson county,h'Public schools {'. rShaping the Future


Overlapping Tax Rates-Continued

For TaxYear 2014

Real

EstatelTangible

lPropeity

Motor

Vehiclel

Buechel Fire District

Camp Taylor Fire DistrictEastwood Fire District

Fa#dale Ffie District

Fem Creek Fire District

Harrods Creek Fire District

Highview Fire Distric}Jeffersontown Fire District

Lake Dreamland Fire District

Louisville Downtown Management DistrictLyndon Fire DistrictLynnview Garbage FundMcMahan Fire District # 14

Middletown Fire District

Okolona Fire District

Pleasure Ridge Park Fire DistrictSt Matthews Fire District

Urban Services District/Louisville

Worthington Fire District

10.00

10.00

10.00

io.oo

10.00

10.00

10.00

io.oo

10.00

7.45

10.00

10.00

10.00

10.00

10.00

10.00

10.00

36.66

10.00

10.00

10.00

10.00

10.00

10.00

10.00

10.00

10.00

10.00

0.00

10.00

10.00

10.00

10.00

10.00

10.00

10.00

56.60

10.00

10.00

10.00

10.00

10.00

10.00

10.00

10.00

10.00

10.00

o.oo

10.00

10.00

10.00

10.00

10.00

10.00

10.00

0.00

10.00


102

Jeffersm County,Public Schools

A'F?t?

Shaping the Future


Principal Employers by Number of Employees

December 31, 2014 and Nine Comparison Years

2014

Percent of

Jefferson

County's

Employees 2013 2012 2011 2010

United Parcel Service

Jeffersori County Public SchoolsHumana hic.

Norton Healthcare Inc.

Ford Motor Co.

GE AppliancesUniversity of LouisvilleLouisville Metro Govemment

KentuckyOne Health IncThe Kroger CoBaptist Healthcare SystemKY State Govemment

U.S. Govemment

U.S. Postal Service

Catho?ic Archdiocese of Louisville

BF Cos./ ERJ DinmgKindred Healthcare Inc.

LG&E and KU Energy LLC

Floyd Mernorial Hospital

Papa John's Intemational Inc.

20,931

14,676

12,371

10,245

8,987

6,230

6,161

5,654

5,602

5,417

5,339

4,042

4,042

2,546

2,260

2,250

2,249

2,178

1,769

1,503

5.9%

4.1%

3.5%

2.9%

2.5%

1.7%

l.7%

1.6%

l.6%

l.5%

1.5%

l.l%

1.1%

0.7%

0.6%

0.6%

0.6%

0.6oA

0.5%

0.4%

20,047

14,269

11,235

9,666

8,347

6,000

6,187

5,651

8,993

5,152

4,854

4,161

2,191

2,509

2,345

1,550

2,130

2,131

1,711

1,143

20,117

14,366

11,000

9,658

8,696

5,000

6,273

5,698

5,898

4,219

4,232

2,676

2,352

2,252

2,066

1,612

20,288

13,840

10,017

9,421

3,847

3,988

5,746

5,706

5,819

5,313

3,752

4,488

2,855

2,653

2,416

2,297

1,976

20,125

13,964

9,400

8,698

5,397

4,100

6,352

5,765

5,782

5,692

3,889

4,361

3,575

1,991

2,142

2,224

1,976

Source: Business F irst m agazine

Contiued 103


A"??Shaping the Future


Principal Employers by Number of Employees-Continued

December 31, 2014 and Nine Comparison Years

2009 2008 2007 2008 2006

Percent of

Jefferson

County'sEmployees

United Parcel Service

Jefferson County Public SchoolsHurnana Inc.

Norton Healthcare Inc.

Ford Motor Co.

GE AppliancesUniversity of LouisvilleLouisville Metro Govemment

Kentucky0ne Health mc

The Kroger Co

Baptist Healthcare SystemKY State Govemment

U.S. Government

U.S. Postal Service

Catholic Archdiocese of Louisville

BF Cos./ ERJ DinigKindred Healthcare Inc.

LG&E and KU Energy LLCFloyd Memorial HospitalPapa John's Intemational Inc.

20,51313,32610,0968,1425,6244,0006,135

5,811

6,500

5,263

3,305

4,253

2,995

2,626

2,343

2,153

1,902

20,560

13,917

9,854

7,978

5,929

5,000

5,866

5,639

6,203

4,784

3,098

4,498

2,853

2,651

2,351

2,079

20,674

13,593

8,775

8,054

7,586

5,000

5,763

5,698

6,229

5,?77

3,536

4,535

2,822

2,674

2,437

3,033

20,560

13,917

9,854

7,978

5,929

5,000

5,866

5,639

6,203

4,784

3,098

4,498

2,853

2,651

2,351

2,079

18,398

13,281

7,458

7,783

8,745

5,000

5,563

5,993

5,907

4,827

3,140

4,700

2,826

2,902

2,437

2,349

5.41%

3.91%

2.l9%

2.29%

2.57%

l.47%

1.64%

l.76%

}.74%

l .42%

0.92%

l.38%

0.83%

0.85%

0.72%

0.00%

0.69%

0.00%

0.00%

0.00%

Source.' Busirress F irst m agazine

104

Jefferson County,Public Schods



Occupational Tax Revenues


2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

$ 139,825,242132,569,312

128,882,355

120,452,400

116,762,420

110,682,462

113,318,876

115,133,756

114,809,535

$ 106,235,305

Occupational taxrates have been 0.75%

of salaries & wages of Jefferson Countyworkers forthe ent#e period.

105




Total Bonded Debt by Responsible Parly

Presented for Iife of Bonds

Year EndingJune 30, 2015

Jefferson County Board of Education

%ncipal Interest

Total

Repayments

Metro Louisville

Year Ending

June 30, 2015 Principal hiterest

Total

Repayments

2016

2017

2018

2019

2020

2021-2025

2026-2030

2031-2035

$ 22,467,229

22,955,608

23,655,043

24,698,637.

20,149,535

93,763,439

115,086,571

40,349,854

$ 10,661,428

9,788,590

8,882,185

7,905,955

6,944,613

25,162,746

12,664,108

3,923,237

$ 33,128,657

32,744,198

32,537,228

32,604,592

27,094, 148

118,926,185

127,750,679

44,273,091

2016

2017

2018

2019

2020

2021-2025

2026-2030

2031-2035

$ 172,351

178,431

184,767

89,72891,523

387,635o

o

$ 32,281

26,200

19,866

13,266

11,472

24,341

o

$ 204,632

204,631

204,633

102,994

102,995

411,976o

o

$ 363,125,916 $ 85,932,861 $ 449,058,777 $ 1,104,435 $ 127,426 $ 1,231,861

Kenhicky School Facilities Construction CommissionYear Ending Total

June 30, 2015 RepaymentsPrincipal hiterest

Total Principal paymentsTotal Interest payments

$ 447,674,000

109,960,097

2016

2017

2018

2019

2020

2021-2025

2026-2030

2031-2035

$ 6,630,420 $

6,835,961

7,060,190

7,241,635

5,988,942

24,613,926

15,282,429

9,790,146

2,819,394

2,615,364

2,389,734

2,150,093

1,929,260

7,175,540

3,653,198

1,167,225

$ 83,443,649 $ 23,899,810

$ 9,449,814

9,451,325

9,449,924

9,391,728

7,918,202

31,789,466

18,935,627

10,957,371

$ 107,343,459

Total Repayments $ 557,634,097

These schedules present the total debt service payable over the lifeof each bond issue. The Kentucky School Facilities ConstmctionCommission and the Metro Louisville govemrnent have pledged topay the debt service on certai issues as documented by aMemorandum of Agreement or a legislative pronouncernent; however,au debt was issued in the Board's name and the fuu ?iability is reflectedin the Fiancial Section of this CAFR.

106

Jefferson CountyJPublic Schools

A'F'?t?

Shaping the Future


Detail of Bonds by Responsible Party

Presented for Life of Bonds

Bond Issue

?efferson

County Boardof Education

Kentucky SchoolFacilities Construction

Commis s ion

Metro

Louisville Total

2002A

2004B

2005A

2006A

2006B

2007A

2008A

2008B QZAB2009A

2009B

2009C

2010A

2010B

20lOC QSCB

20llA QSCB20l2A

20l2B

2012C

2012D

20l3A

20I3B

20l3C

2014A

20l4B

2015A

2015B

s 24,840,000

5,705,00050,382

2,428,357

1,055,000

500,000

5,200,000

16,305,000

2,569,745

12,650,86910,350,000

13,560,000

27,483,000

29,886,000

2,343,553

18,125,000

27,010,000

21,962,101

25,263,08032,855,000

33,719,968

13,338,861

35,925,000

$ 19,618

1,29:1,643

7,565,000

163,471

4,169,131

12,150,000

14,923,796

242,899

9,336,920

8,825,032

8,291,139

16,465,000

$ 276,784

827,651

$ 24,840,000

5,705,000

70,000

3,720,000

1,055,000

500,000

7,565,000

5,200,000

16,305,000

3,010,000

16,820,000

10,350,000

13,560,000

27,483,000

29,886,000

12,150,000

18,095,000

18,125,000

27,010,000

22,205,000

34,600,000

32,855,000

42,545,000

21,630,000

16,465,000

35,925,000

$ 363,125,916 $ 83,443,649 $ 1,104,435 $ 447,674,000

107


A'F+?Shaping the Future


Overlapping/Direct Debt and Bond Analysis Ratios

As of June 30, 2015

Govemmental Unit

Gross Debt

OutstandingIncludig

Business Type

Percentage Applicableto Jefferson County

Taxpayers

Jefferson CountyTaxpayers Share of

Debt

Direct Debt:

Jefferson County Public Schools

Overlapping Debtl:Louisville/Jefferson County Metro Government

Revenue Bonds

General Obligation Debt

Total Overlappjng and D#ect Debt

Total Overlapping and D#ect Debt Per Capita

Direct Debt Per Capita

Net Bonded Debt to Assessed Value

Debt Service Expenditures to Total GovemmentalExpenditures

Govemrnental Revenues Coverage (Divided by DebtService Expenditures)

$ 447,674,000

62,480

268,358

330,838

$ 448,004,838

0.0136

0.0136

0.0414

24.3292

108

99% $ 443,295,919

100%

100%

62,480

268,358

330,838

$ 443,626,757

Total Overlapping and Direct to $ 588.03

2012 Total Personal Income

$ 587.60

Total Direct Debt to 2012

Total Personal Income 0.0069

' Percent of overlappmg debt applicable to JeffersonCounty taxpayers calculated as 100%due to coterminus boundaries

Jefferson CountyjPublic Sctxx>ls

A'F'?t?

Shaping the Future


Ratios of Debt Outstanding

Ten Year Trend

Fiscal

Year

Jefferson Co.

Boardof

Education

Gowrnment

Jefferson Co.

Boardof

Education

Proprietary

KenhickySchool

Facilities

Construction

Commission

Metro

Louisville Total

DebtService

Cow;rage'

Percent of

Personal

Income

DebtPer

Capita

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

$

$

358,747,835

383,549,548

343,630,627

336,440,411

357,242,036

318,244,418

337,091,270

350,483,200

368,684,615

320,349,467

4,378,081

5,383,481

6,360,349

7,308,117

8,229,578

9,130,889

10,006,545

10,856,070

11,694,027

$ 11,700,663

$ 83,443,649

73,011,023

69,473,540

73,618,593

62,180,845

66,850,414

73,310,814

69,636,539

75,668,296

$ 70,637,350

$ 1,104,435

1,270,948

1,430,484

1,587,879

1,601,188

1,730,221

1,854,608

1,974,723

2,090,889

$ 2,312,520

$ 447,674,000

463,215,000

420,895,000

418,955,000

429,253,647

395,955,942

422,263,237

432,950,532

458,137,827

S 405,000,000

$ o.go

0.81

1.69

1.11

2.36

1.70

0.97

1.03

1.73

1.60

N/A

N/A

N/A

l .34%

1.37%

l.35o/o

1.33%

l.45%

1.56%

l.43%

$ 593.40

614

558

565

595

549

589

608

650

$ 578

l Statutorily, revenues in two funds are used for debt service, with any remaider paid by General Fund. Coverage ratio is the total revenuesin Capital Outlay and Building Fund divided by debt service expenses for the year.

109



Board of Education of ?efferson County, Kentucky

Jefferson County Demographics

Updated as of 2013

Population bySelectedAge Groups

Jefferson County

Number PercentagePopulation by Race

andHispanic OriginJefferson County

Number Percentage

Under 14

15-24

25-44

45-64

65-84

85 and older

143,744

95,641

204,663

203,667

91,866

14,842

19.1%

12.7%

27.1%

27.0%

12.2%

2.0%

Caucasian

African-American

Native American or Native Alaskan

Asian

Native Hawaiian / Pacific Islander

Other / Multirace- - -lHispamc Ongm

552,618

156,672763

17,622394

3,662

35,632

73.3%

20.8%

0.1%

2.3%

o.l%

0.5%

4.7%

Total Population

Source.' US Departtnent of Commerce, Bureau of the Census

754,423 100.O%

Population Estimates2 767,363 lOl.7o/o

Source.' US Departm ent of Commerce, Bureau of the Census

l Hispanic is not a race category. A person may be Caucasia, African-American, etc. and be of Hispanic origin.2 The groupings in this chart auow for some individulas to be counted twice, such as the Hispanic Origindescribed in note 1. For this reason, totals are slightly different fromthe chart on the left.

110




Economic Statistics


Total Personal WagesPer Capita

Inco me

Average

Weekly

?)? Employrnent UnemploymentUnemployment

Rate

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

N/A

N/A

N/A

$ 32,592,092,00031,241,331,00029,247,199,00029,834,474,00030,142,788,00028,376,178,000

$ 28,352,508,000

$

$

N/A

N/A

N/A

43,408

41,828

39,407

41,345

42,016

41,272

40,235

$ 918

N/A

882

895

891

866

846

835

827

$ 796

356,765

341,120

342,729

338,276

340,457

326,802

326,820

341,408

340,011

339,832

20,345

25,216

33,777

33,035

39,111

38,833

37,330

23,685

19,065

21,911

5.4%

6.9%

9.0%

8.9%

10.3%

10.6%

lO.3%

6.5%

5.3%

5.6%

Source: US Departm ent of Labor, Bureau of Labor Statistics

111

Jeffe?rson Counff,Public Schools



Number of Employees by Functional Duties

June 30, 2015

Function 2015 2014 2013 2012

Instmction

Home and Hospital InstmctionOther Instmctional ProgramsStudent Support Services

Instmctional Staff Support ServicesDistrict Administrative Suppoit ServicesSchool Administrative Suppork ServicesBusiness Support ServicesPlant Operations and MaintenanceStudent TransportationFood Service OperationsDay Care OperationsComrnunity Service OperationsArchitectural and Enginee ring Services

5,4658

2,754520

1,16725

1,015265

1,099

1,313846

6

108

6

5,4508

2,746512

1,20222

1,030271

1,113

1,326877

12

116

7

5,2568

2,947521

1,22420

1,029281

1,111

1,350856

14

124

7

5,1198

2,554520

1,06418

1,035345

1,115

1,330838

17

125

7

14,597 14,692 14,748 14,095

The District converted to a new payroll system in 2011-12 which calculates

FTE differently. Data in prior ycaxs is not oomparable.

112

Jeffe.rsm CountyJPublic Schools


Board of Education of ?effersori County, Kentucky

Enroument by Level


2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

Elementary

37,514

37,242

36,897

36,540

36,672

36,824

36,866

36,179

35,230

34,7?7

Middle

21,093

21,413

21,310

21,039

20,527

20,318

20,006

19,731

19,610

19,781

High

28,331

27,840

27,965

27,980

26,714

27,423

27,043

27,527

27,500

26,842

Kindergarten

7,659

7,828

7,953

7,608

7,326

7,201

7,351

7,449

7,258

7,242

E.C.E.

2,315

2,352

2,432

2,443

2,528

2,735

3,047

2,713

3,367

3,671

Preschool

3,590

4,020

4,281

4,810

5,328

4,462

4,686

4,389

5,122

5,265

Total

Enrol?n'ient

100,502

100,695

100,838

100,420

99,095

98,963

98,999

97,988

98,087

97,518

Reflects First Month Enrollment

113


K>t?

Shaping the Future


Accountabuity Trend Statistics-Elementary Schools

2015 School Year'

Next Generation Learners

ReadingMathematics

Science

Social Studies

W rit in gLanguage MechanicsTotal Achiewment Points

2015

WeightedPojnts Score

15.2 60.7

15.8 63.3

n/aa2 n/a2

17.5 70.0

12.4 62.0

3.1 62.0

64.0

2014

WeightedPoits Score

12.2 60.8

12.6 63.1

16.0 80.2

13.2 66.0

9.2 57.8

2.4 59.0

65.6

2013

WeightedPoints Score

10.8 54.1

11.6 57.9

15.5 77.4

13.8 68.9

8.8 54.7

2.4 59.7

62.9

2012


10.9 54.7

10.8 53.9

15.0 74.8

13.4 67.2

8.8 54.7

2.2 55.7

61.1

Gap 38.5 11.6 40.3 12.1 35.9 10.8 33.6 10.1

Growth 60.4 24.2 60.7 24.3 59.0 23.6 61.7 24.7

lDue to a redesign of the accountability system, data presented should not be compared to dataprior to 2012.

2Due to the KDE Unbridled Learning Accountability Model KPREP Science assessments svere not included for the 20142015 school year.

114

Jefferson County.Public Schools>



Accountabfflty Trend Statistics-Middle Schools

2015 School Year1

2015


14.4 57.7

13.8 55.3

n/aa2 n/a"

16.0 64.1

11.1 55.5

2.5 50.1

57.8

30.1

55.4

35

2014


11.5 57.4

11.1 55.3

12.8 64.0

12.9 64.5

9.0 56.0

1.7 42.8

59.0

31.8

56.3

38.1

2013


10.7 53.4

10.8 54.0

12.6 63.2

13.1 65.4

9.3 58.1

1.9 47.6

58.4

30.4

56.0

37.6

2012


9.9 49.6

10.1 50.7

12.8 64.0

13.1 65.6

9.1 56.7

1.7 42.2

56.7

29.2

58.5

36


ReadingMathematics

Science

Social Studies

WritigLanguage MechanicsTotal Achie'wment Points

Gap

Gromh

College & Career Readiness

' Due to a redesign of the accountability system, data presented should not be compared to data prior to 2012.

"Due to the KDE Unbridled Leaming Accountability Model KPREP Science assessrrents were not included for the 2014-2015 school year.

8.4

15.5

5.6

8.9

15.8

6.1

8.5

15.7

6.0

8.2

16.4

5.8

115

?

Jefferson Coun'fi,Public Schools



Accountabfflty Trend Statistics -High Schools

2015 School Year'


ReadingMathematics

Science

Social Studies

Writing

Language MechanicsTotal Achiewment Points

Gap

Gromh

College & Career Readtness

Graduation Rate

20i5

WeightedPoints 8core

10.7 53.6

11.5 57.7

11.4 57.2

12.8 63.8

10.5 65.5

2.1 53.5

59.0

34.6

58.1

70.8

81.4

6.9

11.6

14.2

16.3

2014


11.3 56.3

11.1 55.7

11.6 57.8

13.0 64.8

10.3 64.6

2.3 58.0

59.6

34.4 6.9

59.2 11.8

67.4 13.5

80.7 16.1

2013


11.6 57.8

11.2 56.0

11.9 59.7

12.4 62.2

11.0 68.7

2.3 58.4

60.4

34.6

56

55.8

76.5

6.9

11.2

11.2

15.3

2012


11.3 54.7

12.3 53.9

10.6 74.8

9.9 67.2

10.5 54.7

2.3 55.7

56.9

30.3

61.4

46.7

67.8

6.1

12.3

9.3

13.6

' Due to a redesign of the accountability system, data presented should not be compared to data prior to 2012.

116

Je4ffb'o?tic%nw a+"*Shaping the Future

*The ACT test became a required part of eleventh grade student assessment during 2008-09. This test is now required of all students,not just college-bound students.

117

-' '- ' -'- - '- '- l

ACT Score Trend

21 -

20.420.5 - 20.3

20.1

20

E19.5-

C/

& 18.95Dl9-' 18.7 1B.7 18.8

18.618.5< 18.418.5 -!18-17.5 -17 -l T l 'l l l'

2005- 2006- 2007- 2008- 2009- 2010- 2011- 2012- 2013- 2014-06 07 08 09* 0 11 12 13 14 15

School Years

.,= 20.42U.3

20.1 s Nm N Ni i ii i i 18.9

i i i 18.7 18.7 l"-{518.6s 18-4 183 m s 11

i i i i s il i i i ii i i i g il i i i ii g i g i il i i i i

Jefferson CountylPublic Schools

A'F'+m

Shaping the Future

118

'- - -- --lSAT Critical Reading and Matheinatics Score Treni

1220

12001196szoo -

11881178iise - 11741161

E1160-1148

*

(/)

5' l 140 - - "'-1132j

< 1120-1114110[

1080 -l060a- i - - 'r i'20@5- 2006- 2007- 2008- 2009- 2010- 2011- 2012- 2al3- 2(l4-

06 07 @€ 09 10 11 12 13 14 15

School Yehrs

11781174

1161

1148

1135-1132-i'll

ii11i11imi

i i i li l i ii i i i li l i i

l i i i i i li l i it i i i i i i li l i ii i g i i i i li l g g


A'W+t?

Shaping the Future

119

SAT Combtned Score Trend

18201800 1791.1782

780- 1767

1760- 1754 17561739

:1740e5

", 720 - 1711l!

5 17@O - - 1691 - l6Bg<

1680-16651660 -

1640 -

1620 -

1600 -.

20@5- 2006- 20(17- 2W8- 2009- 2@10- 2(Hl- 2012- 2013- 2014-

06 07 08 09 10 11 12 13 14 15S ckeol Years

1754 1756

@ mg ll

s I i sri1711

6891-1665 W W @m N N N- 1691 - l

i i l l i l li i l i i i i

i i i l i i i ti i i i i l i i i i

i i i i i i l i i i ti i i i i i l i i i te i i i t i l i i i i




School Building Capacity Data

Ten Years' TrendData

School Name

1

Atherton High

Atkinson Elementaiy

Auburndale ElementaiyAudubon Traditional Elem.

Ballard HighBarret Traditional Middle

Bates Elementary

Blake Elementary

Bloom Elementary

Blue Lick Elementary

Bowen Elementary

Brandeis ElementaryBreckinridge Metropolitan High 'Breckinridge/Franklin ElementaryBrown School

Brown Elemtentary SchoolBrown Middle School

Browi High SchoolBuechel Metropolitan High'Butler Traditional High

Byck Elementary

Camp Taylor Elementary

Cane Run ElementaryCarrithers Middle

Carter Elementary

Continued 120

e

Footage

2014-15 2013-14 2012-13 2011-12 2010-11

Student

Enrollment

Program 1st PupilCapacity Month

Student

Enrollment


Stixlent

Enrollment

Program 1st Pupil

Capacity Month

Student

Enrollment


Student

Enrollment

Progyam 1st PupilCapacity Month

204,019

73,902

59,966

51,227

278,137

107,195

48,508

60,916

61,676

55,333

63,960

55,400

61,737

78,293

157,340

53,221

210,238

72,698

58,936

60,107

92,976

96,030

1,350 1,353720 436

620 624

612 616

2,050 1,978654 646

609 550

548 496

535 521

560 706

752 706

570 586

106 124

578 493

720 692

181 153

1,650 1,695

624 579

598 482

574 406

800 559

612 596

1,350 1,266

720 428

620 627

612 618

2,050 2,003

654 639

609 563

548 506

535 535

560 454

752 722

570 599

106 117

578 479

720 739

181 127

1,650 1,693

624 621

598 470

574 400

800 558

612 591

1,350 1,269720 418

620 624

612 621

2,050 1,953654 638

609 563

548 472

535 533

560 481

752 720

570 561

122 106

578 437

718 729

213 181

1,650 1,677

614 593

568 470

574 427

800 598

612 599

1,250 1,269

720 385

620 621

612 622

1,980 1,975

654 641

609 542

548 427

535 532

560 491

752 730

570 565

122 122

578 398

605 726

213 213

1,635 1,673

608 613

568 483

574 464

800 546

612 597

1,250 1,171

755 407

640 609

612 624

1,800 1,863

654 641

605 548

548 461

466 535

560 489

763 709

526 569

578 382

605 679

1,630 1,672583 615

568 488

574 487

800 549

596 599

Jefferson county HahPublic sdhools ;'r'Shaping the Future

Board of Education of Jefferson Coimty, Kentucky

Schoo} Building Capacity Data-Continued


School Name

l

Atherton Hig)iAtkinson ElementaryAut+urndale ElementaryAixlubon Traditional Elem.

Ballard HighBarret Traditional Middle

Bates ElementaryBlake ElementaryBloom ElementaryBlue Lick ElementaryBowen ElementaryBrandeis ElementaryBreckinridge Metropolitan High'Breckinridge/Franklin ElementaryBrown School

Brown Elemtentary SchoolBrom Midae School

Brovm High SchoolBuechel Metropolitan High'Builer Traditional HighByck ElementaryCamp Taylor ElementmyCane Run ElementaryCarrithers Middle

'Carter Elementary

Continued 121

SquareFootage

2009-10 2008-09 2007-08 2006-07 2005-06' Stixlent

Enrollment


Skudent

Enrollment

Progyam 1stPupilCapacity Month

Student '-Enrollment


'- StudentEnrollment


Student

Enrolln'ient

Pro@am 1st PupilCapacity Month

194,044

67,912

52,820

51,615

251,954

107,695

48,374

57,416

67,4}5

45,356

57,010

55,400

63,612

78,404

249,716

249,716

249,716

249,716

46,759

219,238

67,558

59,199

59,840

92,976

64,775

1,250 1,159755 413

640 ssg

612 622

1,800 l 771654 642

605 547

548 472

466 532

560 498

763 746

526 556

578 342

605 635

1,630 1,662583 572

568 469

574 458

800 508

596 592

1,250 1,136755 476

640 543

612 622

1,800 l 721654 635

605 554

548 512

466 487

560 542

763 754

526 538

578 295

605 627

1,630 1,663583 540

568 486

574 440

800 499

596 581

1,250 1,098755 508

640 531

612 620

1,800 1,757654 642

605 553

548 501

466 497

560 559

763 754

526 546

578 340

605 640

1,630 1,663583 536

568 462

574 459

800 637

596 593

1,250 1,098755 544

640 501

612 611

1,800 1,708654 649

605 609

548 504

466 472

560 542

763 774

526 539

578 344

270 284

150 166

185 220

1,630 1,680583 477

568 450

574 465

800 634

596 574

1,250 1,066755 524

640 530

612 611

l 720 1 703

675 647

566 602

548 498

466 426

580 572

729 770

545 542

578 355

270 286

150 169

185 203

1,630 1,675583 474

568 422

574 485

800 683

650 573

Jeffersm County,Public Schools



School Buuding Capacity Data-Continued


1

School Name

Central High

Chancey Elementary

Chenoweth ElementaryChurchill Park School'

Cochran ElementaryCochrane Elementary

Coleridge Taylor Elementary

Conway Middle

Coral Ridge Elementary

Crosby Middle

Crums Lane Elementary

Dixie Elementary

Doss High

Dunn Elementary

DuPont Maunal High

Eastern High

Eisenhower Elementary

Engelhard Elementary

Fafihle Elementary

Fairdale High Magnet Career AcademyFarmer Elementmy (New 07-08)

Farnsley Middle (Formerly Williams Middle)Fern Creek Elementary

Fern Creek Traditional High

Field Elementary

Foster Traditional Academy

Continued

122

Sq-ire

Footage

2014-15 2013-14 ' 2012-13 iOll-12 iOIO-11 -

Skudent

Enrollment


Student

Enrollment

Program 1stPupilCapacity Month

Student

Enrollment

Program 1st Pupil

Capacity Month

Student

Enrollment


Student

Enrollment


233,564

76,000

55,842

82,200

56,645

61,325

73,437

101,137

53,751

98,894

61,350

44,573

237,309

51,816

249,048

299,962

59,511

56,137

64,726

270,295

79,550

129,979

62,617

247,769

55,945

79,800

1400 1,107765 710

640 514

89 159

514 347

520 373

750 644

950 889

562 502

l 405 l 417

550 503

480 444

1,600 1,049610 580

1,850 1,896

2,090 2,069

584 617

530 435

669 603

1,600 1,139788 751

1,150 1,108788 728

1,575 1,548446 410

650 649

1,400 1,123

765 711

640 520

89 161

514 378

520 460

750 641

950 925

562 489

1,405 ,440

550 491

480 401

1,600 1,029

610 616

1,850 ,877

2,090 2,054584 616

530 452

669 576

1,600 1,080

788 774

1,150 1,151

788 781

1,575 1,463

446 427

650 632

l 400 l,}44765 737

640 520

210 159

514 396

520 495

750 632

950 901

562 .493

l 450 1,402

550 496

480 384

1,600 913

607 611

1,850 1,895

2,090 2,119584 571

530 430

669 559

1,600 1,095761 763

1,120 1,129

780 801

1,575 1 454

446 424

650 622

1400 1,116765 700

640 527

210 194

514 385

500 509

750 632

950 887

562 465

1 450 l 402

550 480

480 437

1,600 924

607 594

1,850 1,888

2,090 2,118584 581

530 409

669 563

1,600 1,004740 737

1,120 1,134

765 789

1,575 l 433

446 423

650 623


A'F?t?

Shaping the Future



?Ten Years' TrendData

School Name

l

Central HighChancey ElementaryChenoweth ElementaryChurchill Park School'

Cochran ElementaryCochrane ElementaryColeridge Taylor ElementaryConway MiddleCoral Ridge ElementaryCrosby MiddleCrurns Lane ElementaryDixie ElementaryDoss HighDimn ElementaryDuPont Maunal HighEastern HighEisenhower ElementaryEngelhard ElementaryFa#hle ElementaryFairdale High Magnet Career AcademyFarmer Elementary (New 07-08)Farnsley Middle (Formerly Williams Middle)Fern Creek ElementaryFern Creek Traditional HighField Elementary

Foster Traditional Academy

Continued 123

SquareFootage

2009-10 2008-09 2007-08 2006-07 2005-06- 'Student

Enrollment


Student

Enrollment


Student

Enrollment

Program lstPupilCapacity Month

Skudent

Enrollment


Student

Enrollment


206,118

151,957

57,431

82,200

56,645

52,724

73,437

99,073

53,751

98,894

53,230

44,573

237,403

51,816

249,048

241,428

56,195

50,212

67,584

285,863

79,550

123,433

56,020

249,569

48,818

80,743

1,400 1,041765 725

640 515

514 393

495 405

750 652

950 905

562 464

1,120 1,229550 423

468 456

1,600 963603 599

1,800 1,8591,800 2,170551 553

480 444

669 538

1,600 952650 617

1,010 1,109796 771

1,575 1,568426 459

650 651

1,400 964765 782

640 520

514 428

495 364

750 678

950 908

562 476

1,120 1,226550 399

468 409

1,600 1,072603 621

1,800 1,871

1,800 2,144551 519

480 427

669 530

1,600 887650 534

1,010 1,102796 790

1,575 1 466426 466

650 653

1,400 988765 768

640 551

514 413

495 386

750 702

950 895

562 476

1,120 1,261550 419

468 448

1,600 1,116603 615

1,800 1,896

1,800 1,949551 497

480 492

669 504

1,600 847650 382

1,010 1,092796 817

1,575 1,507426 443

650 643

1,400 952765 747

640 528

514 388

495 402

750 743

950 905

562 482

1,120 1,226550 420

468 436

1,600 1,226603 605

1,800 1,886

1,800 1,990551 489

480 454

669 487

1,600 892

1,010 1,017796 799

1,575 1,490426 417

650 634

1,400 985732 760

664 533

514 397

495 379

728 724

950 897

562 500

1,100 1,106550 447

468 421

1,600 1,172603 596

1,800 1,894

1,800 1,924551 496

480 461

669 488

1,600 859

1,046 1,001796 780

1,575 1,436426 399

650 574

J%ffebrson,lcscoTh?untsy:aShaping the Future


School Bunding Capacity Data-Continued


School Name

l

Frayscr ElementaryFrost Middle

Gilmore Lane ElementaryGoldsmith ElementaryCxeathouse/Shryock Elem.Greenwood ElementaryGutermuth ElementaryHartstern ElementaryHawthorne ElementaryHazelwood ElementaryHighland MiddleHite Elementary

Indian Trail ElementaiyIroquois HighJacob ElementaryJefferson County Trad. MiddleJefferson County Virtual School (New 06-07)Jefferson, Thomas Middle'jeffersontown Elementary

Jeffersontown High Magnet CareerJohnson Traditional Middle

Johnsontown Road ElementaryKammerer Middle

Kennedy Metropolitan'Kennedy Montessori ElementaryKenwood ElementaryKerrick Elementary

Continued

124

SquareFootage

2014-15 2013-14 2012-13 2011-12 2010-11

Student

Enrollment


Student

Enro llment


Skudent

Enrollment


Student

Enrollment


Student

Enrollment

Program 1st Pupil

Capacity Month

68,142

77,553

39,483

50,464

61,555

50,667

53,378

53,718

62,659

04,673

120,249

45,720

45,660

293,374

64,800

120,513

206,213

69,309

332,591

136,185

46,556

127,480

45,627

58,592

46,843

46,870

522 371

700 219

412 289

683 607

612 607

565 563

563 437

592 473

507 492

696 480

1,227 1,089526 499

537 421

l 450 1,158698 677

929 917

425

l 425 853

819 765

1600 1,389980 909

487 430

1,120 93984 73

620 605

615 588

540 459

522 352

700 494

412 312

683 619

612 609

565 564

563 410

592 470

507 496

696 460

1,227 1,156526 500

537 453

1,450 1,100698 707

929 922

485

1,425 896819 780

1,600 1 434980 912

487 404

1,120 1,06484 71

620 619

615 584

540 444

522 373

700 529

412 373

683 678

612 610

565 561

563 443

592 448

507 477

696 435

1,227 1,189526 530

537 498

1,450 1,193698 688

929 925

439

l 425 898

819 794

1,600 1,471980 932

487 429

1,100 1,07477 86

620 622

615 590

540 480

522 375

700 423

412 367

672 690

612 612

562 562

563 447

592 442

487 490

696 444

1,200 1,195523 517

537 481

1,450 },}74690 697

929 895

338

1,425 966819 794

1,600 1,366980 940

487 455

1,050 1,03377 82

620 586

615 595

540 482

522 406

700 473

407 361

l 650 674

612 610

556 565

563 483

592 499

484 484

696 443

1,025 1,118513 521

537 510

l 450 1,104675 668

929 908

276

l 425 1,002778 767

1,600 1,224959 951

471 465

1,050 936

600 598

, 600 592540 492

,bfferson County ];?u'Publrc sctxx>ls %rShaping the Future




School Name

l

Frayser ElementaryFrost Middle

Gilmore Lane Elementary(3oldsmith ElementmyGreathouse/Shryock Elem.Greenwood ElementaryGutermuth ElementaryHartstern ElementaryHawthorne ElementaryHazelwood ElementaryHighland MiddleHite ElementaryIndian T rail ElementaryIroquois HighJacob Elementary?efferson County Traa Middle}efferson County Virtual School (New 06-07)Jefferson, Thomas Middle

Jeffersontown ElementaryJeffersontown High Magnet CareerJohnson Traditional Middle

Johnsontown Road ElementaryKarnmerer Middle

Kennedy Metropolitan'Kennedy Montessori ElementaryKenwood ElementaryKerrick Elementmy

125Continued

Square

Footage

2009-10 2008-09 2007-08 2006-07 2005-06Student

Enrolln'ient


Student

Enrollment


Student

Enrollment

Progyam lstPupilCapacity Month

Student

Enrollment


Stixlent

Enrolln'ient


71,73076,851

39,483

42,994

51,054

42,848

53,378

52,655

42,510

83,381

123,574

45,720

40,225

296,110

61,250

120,513

224,413

69,305

298,488

136,185

47,096

112,682

36,765

58,592

47,39

49,808

522 371

700 459

407 399

650 665

612 611

556 547

563 478

592 477

484 436

696 413

1,025 1,077513 498

537 474

l 450 1,182675 625

929 906

291

l 425 908

778 776

1,600 1,160959 966

471 452

l 050 904

600 597

600 577

540 483

522 372

700 439

407 390

650 656

612 606

556 560

563 508

592 551

484 405

696 405

1,025 1,090513 511

537 459

1,450 1,262675 540

929 925

244

l 425 961

778 805

1,600 1,203959 975

471 477

1,050 893

600 594

600 602

540 489

522 385

700 337

407 359

650 654

612 613

556 579

563 531

592 538

484 380

696 411

1,025 1,048513 518

537 464

1,450 1,275675 597

929 920

345

1,425 995778 774

1,600 1,102959 976

471 477

1,050 848

600 549

600 568

540 489

522 387

700 368

407 375

650 661

612 611

556 564

563 545

592 555

484 370

696 419

1,025 1,040513 511

537 482

l 450 1,266675 591

929 925

284

1,425 1,000778 819

1,600 1,101959 977

471 462

1,050 844

600 585

600 572

540 461

522 390

700 466

407 370

650 647

612 612

556 556

563 550

592 562

505 370

696 422

1,025 1,027513 510

537 488

l 450 1,268675 571

1,001 929

l 425 1,051759 778

1,600 1,047975 974

471 422

1,050 858

600 594

669 589

540 445

Jefferson County,Public Sdhools



School Building Capacity Data-Continued


School Name

l

King ElementaryKlondike Lane ElementmyKnight MiddleLassiter Middle

Laukhuf ElementaryLayne ElementaryLiberty HighLincoln ElementaryLouisville Male HighLowe ElementaryLuhr ElementaryMaupin ElementaryMcFerran Preparatory AcadcmyMedora ElementaryMeyzcek MiddleMiddletown ElementaryMill Creek ElementaryMinors Lane ElementaryMoore Traditional School (New 06-0 7)Moore Traditional Middle

Moore Traditional HighMyers MiddleNes?g MiddleNoe Middle

Norton ElementaryOkolona Elementary

Continued

126

SquareFootage

2014-15 2013-14 2012-13 2011-12 2010-11

Student

Enrollment


Student

Enrolln'ient


Skudent

Enrollment


Student

Enrollment

Pro@am lstPupilCapacity Month

Student

Enrollment


67,295

57,300

101,218

103,834

61,426

50,740

100,329

96,825

187,678

59,560

46,943

74,000

160,000

39,537

}34,645

58,553

48,611

51 ,721

263,686

265,786

265,786

97,164

119,000

151,960

60,724

50,950

550 456

732 569

700 411

900 925

600 455

541 469

270 385

500 544

l 763 l 781

620 606

524 477

675 485

1,020 874463 442

1,200 1,123645 598

564 484

600 446

2,070 1,984

1010 324

1,112 1,0201,332 1,331768 732

501 346

550 457

732 617

700 435

900 855

600 464

541 472

270 366

500 493

1,763 l 755620 620

524 486

675 496

1,020 917463 444

1,200 1 140645 603

564 475

600 384

2,070 1,860

1,010 7851,112 1,015

1,332 1,330768 726

501 329

550 486

732 681

700 472

l 900 754

600 448

541 500

263 349

439 445

1,763 l 735615 614

524 493

675 497

1,020 903463 440

1,200 1,115645 620

564 509

600 383

2,050 1,763

1,010 7311,112 1,0461,332 1,341768 737

501 328

550 441

732 727

700 456

900 751

600 442

541 466

373 330

439 401

l 763 1,688608 615

524 494

675 507

996 972

463 435

1,200 1,117645 609

564 503

600 365

2,050 l 651

1,010 770

1,112 l 031

1,332 1,323768 730

501 329

484 499

658 696

700 537

925 817

620 472

514 503

n/a 462

439 373

,634 1 732600 611

524 500

675 528

1,062 946424 440

1,200 1,051632 611

564 504

600 329

2,050 1,550

1,010 720

1,112 947

1,250 1,319750 722

501 382


A'F'+t?

Shaping the Futurae




School Name

1

King Elementary

Klondike Lane ElementaryKnight MiddleLassiter Middle

Laukhuf Elementary

Layne ElementaryLiberty High

Lincoln Elementary

Louisville Male High

Lowe Elementary

Luhr Elementary

Maupin Elementary

McFerran Preparatory Academy

Medora Elementary

Meyzeek Middle

Middletown Elementary

Mill Creek Elementary

Minors Lane Elementary

Moore Traditional School (New 06-07)Moore Traditional Middle

Moore Traditional HighMyers Middle

Newburg MiddleNoe Middle

Norton Elementaiy

Okolona Elementmy

Continued 127

Sq-are

Footagc

2009-10 2008-09 2007-08 2006-07 2005-06

Stixlent

Enrollment


Student

Enrollment

Proyam 1st Pupil

Capacity Month

Student

Enrollment


Student

Enrollment


Student

Enrollment


67,295

57,300

101,568

103,834

56,209

50,740

100,329

63,067

209,752

59,560

49,373

74,000

334,503

39,537

134,645

58,553

49,651

51,721

265,786

265,786

97,164

123,433

155,118

62,719

so,gso

484 531

658 709

700 560

925 784

620 498

514 513

n/a 414

439 275

},634 1,785

600 611

524 492

675 504

1,062 920

424 460

1,200 1,062

632 647

564 486

600 330

2,050 1,557

1,010 783

1,112 930

1,250 1,330

750 735

501 422

484 499

658 712

700 579

925 724

620 527

514 508

n/a 368

439 292

1,634 1 786

600 595

524 500

675 607

1,062 827

424 421

1,200 1,071632 613

564 490

600 376

2,050 1,568

1,010 797

1112 958

1,250 1,305750 753

501 415

484 455

658 680

700 594

925 634

620 512

514 465

n/a 346

439 302

1,634 },754600 602

524 510

675 602

1,062 881

424 413

1,200 1,059

632 595

564 495

600 351

2,050 1,585

1,010 852

1,112 1,024

1,250 1,336

750 718

501 458

484 426

658 682

700 586

925 651

620 502

514 499

n/a 373

439 294

1,634 1,792

600 600

524 507

675 619

1,062 891

424 414

1,200 1,073

632 609

564 487

600 395

2,050 l 716

1,010 828

1,112 },O47

1,250 1,269

750 739

501 467

484 437

624 631

700 582

950 675

620 504

490 470

n/a 316

406 282

1,634 1,683570 602

524 474

650 602

1,062 916

424 408

1,200 1,096

632 602

564 458

600 443

1,050 906

1,000 743

1,010 950

1,112 1,084

1,332 },274

750 721

501 468

Jefferson countyn?;Public Schools A?Shaping the Future

Board of Education of }efferson County, Kentucky



School Name

l

Olmsted Academy North MiddleOlmsted Academy South MiddlePleasure Ridge Park HighPortlandElementaryPrice ElementaryRamsey Middle (New07-08)Rangeland ElementaryRoosevelt Perry ElementaryRutherford ElementarySanders ElementarySchaffner Traditional ElementarySemple ElementarySeneca HighShacklette ElementaryThe Academy@ShawneeShelby ElementarySlaughter ElementarySmyrna Traditional ElementarySouth Park TAPP Progran'i'Southern HighSt. Matthews ElementaryStonestreet ElementaryStopher Elementary (New07-08)Stuart Middle

Taylor, Zachary ElementaryTrunnel ElementaryTully Elementary

Continued

128

e

Footage

'- 2014-15 2013-14 2012-13 2011-12 2010-11

Skixlent

Enrollment

Program l st PupilCapacity Month

Student

Enrollment

Proyam 1st PupilCapacity Month

Student

Enro llment


Student

Enrollment


Student

Enrollment


152,553 773 662101,082 810 680284,117 1,850 1,88753,599 400 29353,339 590 509129,000 950 99854,840 620 48562,566 451 43587,876 630 60544,376 560 51541,156 612 60273,440 629 581

226,306 1,685 1,46255,786 616 454

333,804 1,449 67576,343 700 73763,380 526 43752,176 585 55942,440 191 89

321,288 1,700 .1,19244,888 597 57948,282 578 46079,550 832 791

214,706 1,500 88260,043 585 52554,086 662 542105)6481 828 706

773 653

810 721

1,850 1,837400 288

590 544

950 947

620 529

451 413

630 608

560 501

612 610

629 535

1,685 1,502616 437

1449 595

700 704

526 439

585 562

191 157

1,700 1,124597 568

578 482

832 803

1,500 970585 508

662 568

828 738

850 665

895 771

1,850 1,861l 450 268

590 588

.950 877

580 580

451 397

630 606

560 498

612 608

629 543

1,685 l 482616 433

1,400 553650 682

526 415

575 571

216 211

1,700 1,199597 589

578 515

820 811

1,500 1,058585 517

662 632

828 792

'1,050 768895 814

1,850 1,859450 256

590 582

950 821

560 545

451 381

630 595

560 504

612 608

629 542

1,685 1,379616 450

1,400 587650 649

526 442

575 546

216 212

1700 1,240597 593

578 488

784 809

1,500 l 020585 491

662 609

828 794

1,050 782895 771

1,820 1,891472 259

547 578

gso 727

520 520

451 379

600 598

503 493

612 604

629 552

1,685 l 494708 472

l 400 563

650 646

508 516

623 513

1,700 },274550 588

578 497

650 763

1,500 1,082585 498

670 606

809 807


A'F'?t?

Shaping the Futurae


School Buuding Capacity Data-Continued

Ten Ycms' Trend Data

School Name

Olmsted Academy North MiddleOlmsted Academy South MiddlePleasure Ridge Park HighPortland ElementaryPrice Elementary

Ramsey Middle (New 07-08)Rangeland ElementaryRoosevelt Perry ElementaryRutherford ElementarySanders Elementary

Schaffner Traditional ElementarySemple ElementarySeneca HighShacklette ElementaiyThe Academy@ShawneeShelby ElementarySlaughter ElementarySmyrna Traditional ElementarySouth Park TAPP Program'Southern HighSt. Matthews ElementarySkonestreet ElementaryStopher Elementary (New 07-08)Stuart Middle

Taylor, Zachary ElementaryTrunnel ElementaryTully Elementary

Continued

129

SquareFootage

200'i-10 2008-09 2007-08 2006-07 2005-06- Student-'Enrollment


Stixlent

Enrollment


Stixlent

Enrollment


S(udentEnrollment


S(ixlent

Enrollment


152,553

101,510

284,117

52,661

53,339

129,000

46,210

50,185

83,296

44,376

41,156

65,447

236,142

47,409

333,804

83,477

50,578

42,827

42,152

329,983

46,228

49,169

79,550

214,706

45,067

55,097

105,648

1,050 786895 776

1,820 1,938472 270

547 539

950 657

520 492

451 307

600 547

503 528

612 611

629 581

l 685 1,519708 493

1 ,400 549650 626

508 483

623 574

1700 1,292550 600

578 515

650 754

1,500 1,085585 534

670 636

809 812

1,050 711895 727

1,820 1,920472 294

547 544

950 510

520 368

451 323

600 564

503 563

612 611

629 585

1,685 1,579708 529

l 400 863

650 541

508 473

623 599

1700 1,292550 580

578 548

650 688

1,500 1,093585 513

670 653

809 750

1,050 746895 613

1,820 1,940472 283

547 551

520 417

451 357

600 539

503 541

612 610

629 587

1,685 1,731708 524

l 400 755

650 492

508 441

623 593

1,700 1,291550 551

578 567

650 475

1,500 1,114585 499

670 600

809 743

1,050 714895 594

1,820 1,879472 288

547 558

520 397

451 343

600 510

503 513

612 604

629 599

1,685 1 773

708 565

1400 786

650 502

l 508 433

623 560

1,700 1,383550 550

578 536

1,500 1,112585 504

670 626

809 836

1,050 796936 618

1,800 1,956472 306

569 510

520 433

451 354

600 533

503 494

612 608

629 596

1,685 1,711708 611

1 400 691

650 500

508 437

620 581

1700 1,402519 533

578 519

1,500 1,177563 503

670 639

809 822

Je;'::n -:a"Shaping the Future

Board of Education of Xefferson Coumy, Kentucky



School Name

Valley Traditional HighWaggener HighWaller William Environmental'

Watson Lane ElementaryWatterson ElementaryWellington Traditional Elem.Western HigliWestern Middle

Westport TAPP Progyam'Westport Traditional MiddleWheatley ElementaryWheeler ElementaryWilder ElementaryWilkerson Traditional Elem.

Wilt ElementaryYoung ElementaryYouth Performing Arts Program'

' Stixlents at these alternative schools are counted in the enrollment at their home school for years prior to 2011-12.

Enrollment presented is as of the end of the first pupil month. This is not typically our highest enrollment month during the school year,but this is when the program budget is set and students are assigned to each school w'thin program capacity guidelines.

Continued

130

SquareFootage

2014-15 2013-14 2012-13 2011-12 2010-11

Student

Enrollment

Program 1st Pupil

Capacity Month

Student

Enrollment


Skudent

Enrollment


Stixlent

Enrollment


Student

Enrollment


275,670

185,446

54,619

68,925

52,105

56,924

202,622

133,525

78,O43

169,768

61,244

53,443

49,424

43,795

50,481

73,437

78,O43

1,600 l 4811,300 76398 86

661 395

615 593

547 457

1,300 806825 555

148 158

1,300 1124550 390

680 681

613 572

534 479

566 485

650 535

1,600 1,3301,300 764

98

661 414

615 593

547 457

1,300 768825 461

148 179

1,300 943550 401

680 684

613 593

534 495

566 476

650 520

1,600 1,0871,300 78298 97

661 443

615 605

547 482

1,300 798825 387

228 154

1,300 928550 405

680 631

613 566

534 490

566 460

650 531

'1,600 9791,300 790

661 449

615 599

547 486

1,300 762825 297

228 219

1,300 885550 420

680 618

613 564

534 496

566 456

650 440

1,600 908

1,300 852

661 454

615 593

547 480

1,300 871825 356

1,300 849550 410

680 597

610 568

470 517

550 476

610 429

Je,,,ffebrsonllcscochwun/tys tmShaping the Future

Board of Education of Iefferson County, Kentucky



School Name

Valley Traditional HighW@ggener HighWaller William Environmental'

Watson Lane ElementaryWatterson ElementaryWellington Traditional Elem.Western HighWestern Middle

Westport TAPP Program'Westport Traditional MiddleWheatley ElementaryWhee}er ElementaryWilder ElementaryWilkerson Traditional Elem.

Wilt ElementaryYoung ElementaryYouth P erforming Aats Proyam'

' Stixlents at these alternative schools are counted in the enrollment at their home school for years prior to 2011-12.

Enrollment presented is as of the end of the first pupil month. This is not typically our highest enrollment month during the school year,bur this is when the program bixlget is set and students are assigned to each school w'thin program capacity guidelines.

131

SquareFootage

2009-10 2008-09 2007-08 2006-07 2005-06- !jtixlentEnrollment


Student

Enrollment

Pr(yBm 1st PupilCapacity Month

Student

Enrollment


Stixlent

Enrollment


Stixlent

Enrollment


266,102

222,142

52,616

62,030

52,105

56,924

235,472

133,525

52,950

169,768

63,935

53,443

49,738

43,795

50,481

73,437

78,043

1,600 835

1,300 924

661 485

615 601

547 483

1,300 848825 457

1,300 790550 386

680 593

610 612

470 519

550 463

610 489

1,600 877

1,300 1,005

661 523

615 579

547 477

1,300 871825 493

1,300 739550 386

680 611

610 609

470 510

550 517

610 582

1,600 879

1,300 1,136

661 559

615 574

547 458

1,300 960825 463

1,300 749550 422

680 605

610 587

470 509

550 504

610 579

1,600 884

1,300 1,190

661 591

615 606

547 451

1,300 952

825 495

1,300 869

550 430

680 684

610 580

470 503

550 533

610 513

1,600 922

1,300 1,159

661 607

620 592

547 467

1,300 912825 542

1,300 913550 391

665 678

610 599

470 475

550 543

610 510

Jefferson CountylPublic Schools

A'F'?t?

Shaping the Future


Misceuaneous Statistics

For the Year Ended June 30, 2015

Student DemograpMcs

iag4 mAmerican?ndian .1%

mAsian 3.6o/o

Other 3.6%

lL 3 7"A

N Hispanic/Latino 9%

African American 36.8%

Caucasian 46.9%

Number of Students

English as a Second LanguageDifferent LanguagesSpecial NeedsFree and Reduced Price Lunch

Advanced Placement Tests Taken

5,336123

12,62167%

9,777

Fiuiding Auocation

m Central Office

Shident Transportation

Number of Buses

Number of Bus CompoundsMiles Driven per Day (Average)Number of Students Transported Daily

977

13

107,907

69,886

s Schools

Systemwide SchoolCenters

132

u)-0

!

C/) >(X.(W (/)

?

H

l-ml-m

S)-I

/:!:l

m

o

J-b ': J<(,,oU

1% '1. ?:J: QJ ? -'

,ov? =h ?ova.> ?5o

? @ l-S -poi.. Th

,5 '5 p -P

R0 ie.5w Ml -? L.B',37: oa .9 m .,, s 4 € wt?s -ps .0 d '1)$7§,j.§t-hOvi'v v?s a:: bD o

D ,, E C/)5? @ -;; .Q5? a'4 ,,oa=5 'e)?" '§ >aigi , C: ,

rs 'Tl rs lmt3'jO?'a g , ," :(L) Q ,9 u H?, .-Ba j: N

-j??"a" @' 7@?a? ",,,i :' IJ a-s a' QJ

? m z "@ as?m (d-!-m(g)? (0, a ? ?4 'F:o As=o 2o qaoa'3 , ,' :B BA ,s rs (/) Q? ?oi @';;" ?ao -aao: B> t=iDoao e ? :j <B ' -; '(> CJJ

ao E€ -Cl 3 a'Cj8 !" !?l'i ?E ag

a;? 2 :4 8A-s Q (/) O.,,: .;? :?o ?:?

Q 8 a: a:4 'a(l) 0 :!" < E

i.ma5Cba)(d6(D:

..eQffl:>.,!, . (ffm ?.,,a 5,, ,aE,M:'u 'C/), (F 'oB8a 'R 6 o> -Q

- 4-l -?o8? "8. .'y E" o,?a"'(j,?;. 75' ;a" Z

"' e -E€??U E

grhE,)'-aa'o ' B "Q a@o:? () .g 3 g,a) lw a'Cj ?g -2

a) i- @) t:J)s s 8 :? ' j!!

.'3J

Q-!--:?'€ ('?a)'d':wO

coa)

m

m

:jae)D,,ao(p'lJ50.m

Ui' ,,53 uC':l:EC':l..!D

?.bd--i (/)

a aL':>i..,4)o.5u. .,:Th

aE! .stl)

.E"a; 'aa) ,a'w'-I wam D0

E%€O

0.QC/)

ay!-m9gp::?'9g-; i E?'C) O g,B.o

.-E a%@u?Q'+?Q,,55gfi @ rQR,,hDU u ,-Wu.€

<" oA t':"

3, ,6-:O> ?I?Q

z(k)EO

s,Qa)

qbr>5.,gO >0?gOgO,' CLa'? e'?O-=Q()gu

%g!.)8

-'E a?a"?!:js-e'? 'oC/)(/):jiJ' o<,J=E00()Q(d a@Q --s,:E

?,,5aQg

Q-QThQ€(dg,(t€n*-i-'i?-u

m

€ 333E--@ ?E'g,gg? '-';?a)

g:=i

o

Q.Q 0C/:)C)

l-:5?O:EQQ(a:?QQ(30g0- g? al-m

9 R o,S2? y4o ,.$,ffi"i- i = @d G- (2d -os 9sFs O" o

o

"5Du O g

,.!E O .mS aq 'Z," : ,Z

i, : ,5B *=v= :ar. P 'U--'s -r? QtV > ,?g @) k

. c w aa+-i a) ,%8€gs ' ,fj

Oday

:=i

s(h

?5n'Oy(mE ,,;(X

" % g-l-i --i a?8'E;Ee () ,a"?'cj ? &-a> r. (-lQ '-z ;50mR' O-o a?''@11)?CLB2> O

d

(/)m ', :'?a:d ,= a'§w ffl 'E , <

:'j .w a>S,S:=l(dg&-,H

oQag

g--z &,a)51-i

..C:' (h a)m , >,2

-; ya.iod

-E J ,aQ > C? ?ci C'9.0,,'oQ , :Tfj? ..FA" e ?W

?i ,? ,Q

8 Jj'o 4' Ho' Jj .;2 'A'w w g .fji. [/) S ?z e .,Ei ,"'0 " +-i (-Wr? O '? O- d O g4 ..C a O-0 ,@ a 88 -'!' ,O aa!:)D s E ,'Th'-Es-(a(dE>6 la5 !;mO'd,.0?e, .3 (1) E'o a:o !!? "Sa)QJ?O..0 E @ QO -'? y >?g5d? O 9 '34E ag -';t El'z O :t "]C- o ?o-s %g- =u '?=Q s

,0 a-'- --s %O ' -€'-m

?'d(:.B Q e,1aam ; Q

%(:g"ued0.@ Q <6 '()

"Qa)Im:j sQ . (/) -wQ a (/) -;:>.v'=g-; ? .0 ?'-O

:F3, 'Ej. a?ti B'o h- ()Q 9 -s'Q??..C: o 4 '.w E) . a'om: U) ';? D@) U) l-m QJ?? z 2(k)a'('dH ;> w2 ,,'> 3 eJ'> I.m a) a'> Tj .0 j3

gO

i(m(m(D@'j 4a5Dn(;:w--i g>Q

uEo

a'O

ay

:j

-5(w

a)

Q?

o= Eo<ptWLE-

Q

oQ

tpa)wd

'? a?'o.

osb'E3be-.= O.; O

*L? a)n.'@E ld5(5L'op'(BD'eA'ono

tE5J)> {,g; EEgm?-

?> u ', @b .e > 3E ,O '??s a?',,,": :go-=,i iI;'", g j ', ?0%!-0O 2 a) 0Q a) .5 @:' 4 ?"ors E-t>o":", 'a?? ,4o?o? I fi "'

2 8 e 8"8:aw-srpa, g

s .: (,,€ ()6 :"5 %"" .ff '5s(?g

b e 'o(3 a'i?b' A 'o@, #a?@ (6?,ii.., ,?oj NCli -' -: -- O

o ?o E "!l 'Elffl ,.W o

Q -(5 < '>E 'f;' eAat:9 -; E ?'O;' Ea J ; Q

- W %3 4 'e:'Via)Em" - -Q -?o *5r%@-;a)---t'60:'-;> . a" 0 'gQo B 9< €.. aQ

s ? ? :; '

a,q" 2 zo c?" ";g, 6.Em?'i c?o"E "' .E 6 ..oog> > % C/) ?

-'A -O .g '?oA, O0:j;a"aSjOr2bo€ a@ s Q (/)?-';' a"4 "!o D' "h? :.: g ?o11 ,a -:. -?Q ' l: a".:.:? n"a" s :J:"

h. MJ:' S ,@ oQi?b ?"' a=

8 e '::50 ,,jg .,!

oa:::aQ fl r,? (5 se's E

EE-

g 2 '*

E,5?agoaSgo

t' aa> L(:> aE" 30(' g) O t- '6!' a:!j 'c1r X a">

ay

OJ

a>>0

aqm

aoes

EO

tEedu

-M?

Cl.(xs

-gU) -z5...e..0"=,J=

(/)U)

3 l-mQ ,O:"a'5?Th'a' Sn'QQ.a)Qa>

--s a)5&m>I.zi-m@)a)i=c/)ed

g(/)d:(;)W-s g%J(11(a5E(L)54

- 0-C/)i-k/J Q4CLC)a,>;J:'

--,4-lg j: ;,6 ,?"OCw

b

:=i

O

gOE :j(!C)"

' a? ffl(? c/3 ,<gg k3D +-

E H'oc/) ': :E';) 2 9

C/:)i

girhi

Ql:21

:i(,5iC/)i(/)l

:iOi:iOiC/)iOiimi!l

gi(lmi

ilOiOiZiOiQiUlffilt;i#l

sayA6

Vi

EOEO

EOo

o>

:j9m

..c -,cfJ33 Eu-YwEE QQ 364,;J t: '@ J-7 %? .# Fj3 u.9

E>g ..0 E<.., bpF',

g>:..0 E ffl

uJq<

o-0 S...o-0 S ... Jefferson

Documents

Transcript of o-0 S...o-0 S ... Jefferson