community unit school district 200 · in our opinion, the financial statements referred to above...

COMMUNITY UNIT SCHOOL DISTRICT 200

FINANCIAL STATEMENTS

FOR THE YEAR ENDED JUNE 30, 2011 AND

INDEPENDENT AUDITOR'S REPORT

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COMMUNITY UNIT SCHOOL DISTRICT 200 TABLE OF CONTENTS

FOR THE FISCAL YEAR ENDED JUNE 30, 2011

Independent Auditor's RepOlt

Required Supplementary Information

Management's Discussion and Analysis (MD&A) - Unaudited

Basic Financial Statements

Government-Wide Financial Statements

Statement of Net Assets

Statement of Activities

Fund Financial Statements

Balance Sheet - Governmental Funds

Reconciliation of the Governmental Funds -Balance Sheet to the Statement of Net Assets

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

Reconciliation of the Governmental Funds - Statement of Revenues, Expenditures and Changes in Fund Balances to the Statement of Activities

Statement of Fiduciary Assets and Liabilities - Agency Fund

Notes to Basic Financial Statements

Required Supplementary Information

Illinois Municipal Retirement Fund -Schedule of Employer's Contributions and Analysis of Funding Progress

Schedule of Funding Progress For Defined Post-employment Benefit Plan

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COMMUNITY UNIT SCHOOL DISTRICT 200 TABLE OF CONTENTS

FOR THE FISCAL YEAR ENDED JUNE 30, 2011

Required Supplementary Information - (Continued)

General and Major Special Revenue Funds - Schcdule of Revenues, Expenditures and Changes in Fund Balances - Budget to Actual

General Fund - Non-GAAP Budgetary Basis

Operations and Maintenance Fund

Transportation Fund

Municipal Retirement/Social Security Fund

Notes to Required Supplementary Information

Supplementary Information

Major Debt Service and Major Capital Projects Funds - Schedule of Revennes, Expenditures and Changes in Fund Balances - Budget to Actual

Debt Service Fund

Capital Projects Fund

General Fund - Combining Balance Sheet

General Fund - Combining Schedule of Revenues, Expenditures and Changes in Fund Balances

General Fund Accounts - Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget to Actual

Educational Accounts - Non-GAAP Budgetary Basis

Working Cash Accounts

Schedule of Changes in Assets and Liabilities - Agency Funds

Five Year Summaty of Assessed Valuations, Tax Rates, Extensions and Collcctions

Operating Cost and Tuition Charge

Bonds Payable by Year of Payment

Presentation of Funds on a Tax Levy Year Basis

General and Special Revenue Funds - Revenue by Source - Last Ten Fiscal Years

Expenditures by Obj ect - Educational, Operations and Maintenance, Transportation and IMRF Funds - Last Ten Fiscal Years

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INDEPENDENT AUDITOR'S REPORT

To the Board of Education Community Unit School District 200 130 West Park Avenue

Wheaton, Illinois 60187

Bab:r Tilly Vi!'chow Krause, LLl> 1301 WI 221ld Sr, Stc400

O;lk Brook, It 6052,)·3389 lcl630 990 3131 en 630 99() 0039 bak<.'niJly.("olll

We have audited the accompanying financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of Community Unit School District 200, as of and for the year ended June 30, 2011, which collectively comprise Community Unit School District 200's basic financial statements as listed in the table of contents. These financial statements are the responsibility of Community Unit School District 200's management. Our responsibility is to express opinions on these financial statements based on our audit. The prior year summarized comparative information included in the Governmental Funds Balance Sheet and the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances has been derived from Community Unit School District 200's 2010 financial statements. In our report dated October 5, 2010, we expressed unqualified opinions on the respective financial statements of the governmental activities, each major fund, and the aggregate remaining fund information.

We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinions.

In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of Community Unit School District 200 as of June 30, 2011, and the respective changes in financial position thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America.

As described in Note 3, the District adopted the provision of GASB Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions, effective July 1, 2010. As discussed in Note 15, the District has restated fund balance as a result of this adoption.

In accordance with Government Auditing Standards, we have also issued a report dated October 6, 2011 on our consideration of Community Unit School District 200's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the internal control over financial reporting and compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit.

."".,., . ., ,'"., ',' BAKER TILLY INTI:I~NATIONAL - 1 -

An Affirmatin' A((ioll EtJual ()ppol'llllli[), Emp]o)"'1

Board of Education Community Unit School District 200

The Required Supplementary Information, as listed in the table of contents, is not a required part of the basic financial statements, but is supplementary information required by accounting principles generally accepted in the United States of America. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the required supplementary information. However, we did not audit the information and express no opinion on it.

Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise Community Unit School District 200's basic financial statements. The financial information listed as supplementary information in the table of contents is presented for purposes of additional analysis and is not a required part of the basic financial statements. The 2011 supplementary information has been SUbjected to the auditing procedures applied to the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements for the year ended June 30, 2011, taken as a whole. We also have previously audited, in accordance with auditing standards generally accepted in the United States, Community Unit School District 200's basic financial statements for the year ended June 30, 2010, which are not presented with the accompanying financial statements. In our report dated October 5, 2010, we expressed unqualified opinions on the respective financial statements of the governmental activities, each major fund, and the aggregate remaining fund information. In our opinion, the 2010 supplementary information is fairly stated in all material respects in relation to the basic financial statements for the year ended June 30, 2010, taken as a whole.

fu~caL"\fjOa: \AtJ~h~, UP Oak Brook, Illin~~ October 6, 2011

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Community Unit School District 200 Management's Discussion and Analysis (Unaudited) For the Year Ended June 30, 2011

The discussion and analysis of Community Unit School District 200's (the "District") financial performance provides an overall review of the District's financial activities for the year ended June 30, 2011. The management of the District encourages readers to consider the infolmation presented herein in conjunction with the basic financial statements to enhance their understanding of the District's financial performance. All amounts, unless othelwise indicated, are expressed in millions of dollars. Celtain comparative information between the CUlTent year and the prior is required to be presented in the Management's Discussion and Analysis (the "MD&A").

Financial Highlights

> In total, net assets increased by $0.3. This represents a I % increase from 2010 net assets. Capital assets are calTied net of depreciation.

> General revenues accounted for $134.3 in revenue or 75% of all revenues. Program specific revenues in the form of charges for services and fees and grants accounted for $46.2 or 25% of total revenues of$180.5.

> The District had $180.2 in expenses related to government activities. However, only $46.2 of these expenses were offset by program specific charges and grants.

> The District issued $12.0 million in tax anticipation warrants to help offset cash flow deficiencies prior to the receipt of June taxes. The main cause of the deficiency was delayed State categorical payments. Wan·ants were issued on April 7, 20 II and repaid on June 16, 20 II with an interest cost of $20,700.

> The District abated $1.1 million from the Working Cash accounts for capital purchases as required from the 2009 Bond Issue. This offset purchases in both the Education accounts ($548,850) and the Operations and Maintenance ($558,850) fund.

> Due to the current market conditions, interest income again was a nominal portion of the revenue stream. Over the past year, the District worked with JP Morgan Chase Bank, PFM Asset Management, LLC, PMA Financial Network Inc., and Wheaton Bank & Trust to obtain the best rates possible.

> Overall Fund balances in the all funds excluding Bond & Interest Fund and Site & Construction Fund increased by $1.7 million which was a 6% increase over prior year.

Overview of the Financial Statements

This discussion and analysis are intended to serve as an introduction to the District's basic financial statements. The basic financial statcments are comprised of three components:

> Government-wide financial statements,

> Fund financial statements, and

> Notes to basic financial statements.

This report also contains other supplementalY information in addition to the basic financial statements.

Government-widefinancialstatements

The government-wide financial statements are designed to provide readers with a broad overview of the District's finances, in a manner similar to a private-sector business.

The statement of net assets presents infolmation on all of the District's assets and liabilities, with the difference between the two reported as net assets. Over time, increases or decreases in net assets may serve as a useful indicator of whether the financial position oflhe District is improving or deteriorating.

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The statement of activities presents information showing how the District's net assets changed during the fiscal year being reported. All changes in net assets are repOlted as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods.

The government-wide financial statements present the functions of the District that are principally supported by taxes and intergovernmental revenues (governmental activities). The District has no business-type activities; that is, functions that are intended to recover all or a significant portion of their costs through user fees and charges. The District's governmental activities include instructional services (regular education, special education and other), suppOIting services, operation and maintenance of facilities and transportation services.

Fundflnancial statements

A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The District uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the District can be divided into two categories: governmental funds and fiduciary funds (the District maintains no proprietaty funds).

Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a school district's near-ternl financing requirements.

Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar inforll1ation presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the government's near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.

The District maintains six individual governmental funds. Inforll1ation is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures and changes in fund balances for the General Fund, Operations and Maintenance Fund, Transportation Fund, Municipal Retirement/Social Security Fund, Debt Service Fund, and Capital Projects Fund, all of which are considered to be major funds.

The District adopts an annual budget for each of the funds listed above. A budgetaty comparison schedule has been provided for each fund to demonstrate compliance with this budget.

Fiducimy funds are used to account for resources held for the benefit of parties outside the School District. Fiduciary funds are not reflected in the government-wide financial statement because the resources of those funds are not available to support the District's own programs. The accounting used for fiduciaty funds is much like that for the government-wide financial statements.

Notes to basic financial statements

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

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Other il~formation

In addition to the basic financial statements and accompanying notes, this repOlt also presents certain required supplementary infonnation concerning the District's progress in funding its obligation to provide pension benefits to its non-celtified employees.

District-Wide Financial Analysis

The District's combined net assets were higher on June 30, 2011, than they were the year before, increasing 1 % to $58.4.

l'abld

Assets: Cunent and other assets Deferred charges Capital Assets

Total assets

Liabilities: Current liabilities Long-term debt outstanding

Total liabilities

Net assets: Invested in capital assets, net of related debt Restricted Unrestricted

Total net assets

$

~

105.1 $ 1.5

222.5

329.1

65.4 205.6

271.0

43.0 9.2 5,9

58.1 $

Revenues in the governmental activities of the District of$180.6 exceeded expenditures by $0.3. attributable primarily to the budget reductions that were enacted for FYll.

This was

111.8 1.3

215.5

328.6

69.8 200.4

270.2

38.7 11.4

8.3

58.4

This included additional tax revenues received due to the increase in the Consumer Price Index and from the expiration of the Cantera Tax Increment Financing (TIFl. Expenditures were reduced by $6.0 million over the prior fiscal year.

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TableZ

Revenues: Program revenues: Charges for services Operating grants & contributions Capital grants & contributions General revenues: Taxes General state aid Other

Total revenues

Expenses: Instruction Pupil & instructional staff services Administration & business Transportation Operations & maintenance Other

Total expenses

Increase (decrease) in net assets

$

$

G.2.1.P. l!l1l.

6.1 $ 5.6 42.1 40.6

0.4

122.7 127.3 6.2 6.5 0.3 0.5

177.8 180.5

117.9 112.8 16.6 16.0 16.2 15.2 7.6 7.7

13.6 12.1 14.1 1(.i.4

186.0 1~Q.2

(82) ~ O~

Propelty taxes accounted for the largest portion of the District's revenues, contributing 71 %. The remainder of revenues came from state, federal grants and other sources. The total cost of all the District's programs was $180.2, mainly related to instructing and caring for the students and student transportation 76%.

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District-Wide Revenues by Source

Charges for services 3% 4% General state aid

Operating grants & contributions

District-Wide Expenses by Function

7% Operations & maintenance

Transportation

__ UV/. Administration & business

Instruction /'1-_ 0,,/. Pupil & instructional staff services

Financial Analysis of the District's Fnnds

The District's Governmental Funds balance increased from $38.5 to $40.7.

This was due mainly to the reduction in expenditures in General and Operations and Maintenance Funds. The District made a committed effort to reduce expenditures by more than $6.0 million. In addition, the District is still benefiting from utility savings from the Energy Educator Program.

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General Fund Budgetary Highlights

The General Fund revenues came in as anticipated. As in the prior fiscal year, the State Categorical payments were not fully received in this fiscal period but management had predicted that. The first two quarterly payments were received prior to June 30, 2011. The majority of third payments were received in August 20 II. The fourth quarter of FY 20 II has been vouehered and is currently expected in December. The General Fund expenditures came in less than anticipated by $1.2 million. This additional savings increased fund balance. Even with the $6.0 million in budget reductions, the District is committed to increasing fund balance. Once notified of grant reductions, the District reacts by reducing corresponding expenditures whenever possible. These savings can be seen in the total instructional and instructional staff line items. Additionally, there were savings in food service delivery. Finally, the District out-of-distriet tuition costs decreased by 23% over prior year.

Capital Assets and Debt Administration Capital as.'wts

By the end of2011, the District had compiled a total investment of$334.6 ($215.5 net of accumulated depreciation) in a broad range of capital assets including buildings, land and equipment. Total depreciation expense for the year was $7.8. More detailed infonnation about capital assets can be found in Note 7 of the basic financial statements.

The new Hubble Middle School project was significantly completed in time for students to begin learning in our new LEED facility. This building will reduce energy costs, enhance student and staff health and promote student achievement. This project was completed on time and within the projected budget.

TaMe 3 '. .... '. '.' . . ' .

Capital Assets (Ilet.of depreciatioll) (ill miJliollsof dollllrs)' ... ' . . . " .

2010 2011

Land $ 8.2 $ 8.2 Depreciable buildings, property, and equipment 214.3 207.3

Total ~ 222.5 ~ 215.5

Long-term debt

The District retired $5.4 in bonds in 20 II. Compensated absences remained stable. At the end of fiscal 20 II, the District had a debt margin of$239.7. More detailed infornlation on long-term debt can be found in Note 9 of the basic financial statements.

TaMe 4 . . . . .'.

Olltstallllb,g j.~"g.Terlll Debt . . . . . (ill milliolls 0 dollars) .

2010 2011

General obligation bonds $ 204.0 $ 198.5 Compensated absences and other 1.6 1.9

Total ~ 205.6 ~ 200.4

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Factors Bearing 011 the District's Future

At the time these financial statements were prepared and audited, the District was aware of the following circumstances that will significantly affect financial operations in the future:

> Completion of the Sale of Hubble Middle School, Wheaton Property

> Contract negotiations

> Both Federal and State Funding allocations and timeliness of payments

> Consumer Price Index

> Historically low interest rate opportunities

> Receipt of State Construction Grant Awarded, possible $14.5 million

Requests for Information

This financial report is designed to provide the District's citizens, taxpayers, and creditors with a general overview of the District's finances and to demonstrate the District's accountability for the money it receives. If you have questions about this report, or need additional financial infOimation, contact the Business Office:

William Farley, Assistant Superintendent of Business Operations Community Unit School District 200 130 West Park Avenue Wheaton, Illinois 60189

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COMMUNITY UNIT SCHOOL DISTRICT 200 STATEMENT OF NET ASSETS

Assets

Cash and investments Receivables (net of allowance for uncollectibles):

Property taxes Replacement taxes Intergovernmental

Deferred charges Capital assets:

Land Depreciable buildings, property and equipment, net

Total assets

Liabilities

Accounts payable Salaries and wages payable I nterest payable Unearned revenue Health claims payable Long-term liabilities:

Other long-term liabilities - due within one year Other long-term liabilities - due after one year

Total liabilities

Net assets

Invested in capital assets, net of related debt Restricted for:

Operations and maintenance Retirement benefits Debt service Capital projects

Unrestricted

Total net assets

JUNE 30, 2011

See Notes to Basic Financial Statements

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GOVERNMENTAL ACTIVITIES

$ 40,632,616

63,968,172 269,655

6,927,972 1,348,617

8,212,523 207270.642

328630,197

741,221 93,566

2,166,367 65,365,243

1,495,807

6,995,795 193,393,316

270.251,315

38,695,088

1,221,649 1,362,441 7,715,670 1,041,837 8,342,197

$ 58,378,882

COMMUNITY UNIT SCHOOL DISTRICT 200 STATEMENT OF ACTIVITIES

FOR THE YEAR ENDED JUNE 30, 2011

NET (EXPENSES) REVENUE AND

CHANGES IN NET PROGRAM REVENUE ASSETS

FUNCTIONS/PROGRAMS

Governmental activities

Instruction: Regular programs Special programs Other instructional programs State retirement contributions

Support Services: Pupils Instructional staff General administration School administration Business Transportation Operations and maintenance Central Other supporting services

Community services Payments to other districts and gov't units -

excluding special education I nterest and fees

Total governmental activities

OPERATING CHARGES FOR GRANTS AND GOVERNMENTAL

EXPENSES SERVICES CONTRIBUTIONS ACTIVITIES

$ 59,462,488 $ 3,563,267 $ 842,510 $ (55,056,711 ) 22,844,200 6,000 14,006,019 (8,832,181) 10,372,690 329,027 474,269 (9,569,394) 20,166,574 20,166,574

11,810,245 2,737 (11,807,508) 4,148,453 446,365 (3,702,088) 2,259,124 (2,259,124) 9,113,171 (9,113,171) 3,866,377 1,377,600 1,336,638 (1,152,139) 7,660,646 124,582 3,356,502 (4,179,562)

12,129,619 176,854 (11,952,765) 3,866,071 (3,866,071 ) 1,267,016 (1,267,016) 1,074,496 (1,074,496)

653,511 (653,511 ) 9,557,121 (9,557,121 )

~ 180,251,802 ~ 5,577,330 ~ 40,631,614 (134,042,858)

General revenues: Taxes:

Real estate taxes, levied for general purposes 91,932,514 Real estate taxes, levied for specific purposes 17,977,652 Real estate taxes, levied for debt service 15,155,779 Personal property replacement taxes 2,190,795

State aid-formula grants 6,558,772 Investment income 140,912 Miscellaneous 334,927

Total general revenues 134,291,351

Change in net assets 248,493

Net assets, beginning of year 58,130,389

Net assets, end of year ~ 58,378,882


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COMMUNITY UNIT SCHOOL DISTRICT 200 GOVERNMENTAL FUNDS

BALANCE SHEET JUNE 30, 2011

WITH COMPARATIVE TOTALS FOR JUNE 30, 2010 OPERATIONS AND MUN!CIPAl

MAINTENANCE TRANSPORTATION RETIREMENT/SOCIAL

GENERAL FUND FUND FUND SECURITY FUND

Assets

Cash $ 18,709,015 $ 1,337,783 $ 959,570 $ 1,037,040 Investments 7,363,072 321,491 Receivables (net allowance for uncollectibles):

Property taxes 47,615,848 5,326,330 1,662,600 1,581,920 Replacement taxes 269,655 Intergovernmental 5,232,285 1,695,687

Loan to operations and maintenance fund Loan to transportation fund 4,680,500 Prepaid items

Total assets $ 83,870,375 ~ 6,664,113 ~ 4,317857 ~ 2,940,451

Liabilities and fund balance

Accounts payable $ 585,496 $ 118,013 $ 37,712 $ Salaries and wages payable 82,158 11,283 125 Retainage payable Loan from working cash fund 4,680,500 Deferred revenue 51,498,451 5,313,168 2,634,944 1,578,010 Health claims payable 1,495,807

Total liabilities 53,661,912 5,442,464 7,353,281 1,578,010

Fund balance

Reserved Unreserved and undesignated Restricted 1,221,649 1,362,441 Unassigned 30,208,463 (3,035,424)

Total fund balance (deficit) 30,208,463 1,221,649 (3,035,424) 1,362,441

Total liabilities and fund balance ~ 83,870,375 ~ 6,664,113 ~ 4,317,857 ~ 2,940,451


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DEBT SERVICE CAPITAL TOTAL FUND PROJECTS FUND 2011 2010

$ 9,272,296 $ $ 31,315,704 $ 11,467,329 590,512 1,041,837 9,316,912 24,345,224

7,781,474 63,968,172 62,374,466 269,655 252,899

6,927,972 7,551,531 3,500,000

4,680,500 3,500,000 93,754

$ 17,644,282 $ 1 ,041 ,837 $ 116,478,915 $ 113,085,203

$ $ $ 741,221 $ 1,289,595 93,566 93,566

205,054 4,680,500 7,000,000

7,762,245 68,786,818 64,610,967 1,495,807 1,355,844

7,762,245 75,797,912 74,555,026

93,754 38,436,423

9,882,037 1,041,837 13,507,964 27,173,039

9,882,037 1,041,837 40,681,003 38,530,177

§! 17,644,282 §! 1,041,837 §! 116,478,915 §! 113085,203

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COMMUNITY UNIT SCHOOL DISTRICT 200 RECONCILIATION OF THE GOVERNMENTAL FUNDS

BALANCE SHEET TO THE STATEMENT OF NET ASSETS JUNE 30, 2011

Total fund balances - governmental funds

Amounts reported for governmental activities in the Statement of Net Assets are different because:

Net capital assets used in governmental activities and included in the Statement of Net Assets do not require the expenditure of financial resources and, therefore, are not reported in the governmental funds balance sheet.

Grant revenue receivable by the District and recognized in the Statement of Net Assets does not provide current financial resources and is deferred in the governmental funds balance sheet.

Long-term liabilities included in the Statement of Net Assets are not due and payable in the current period and, therefore, are not reported in the governmental funds balance sheet.

Deferred charges included in the Statement of Net Assets are not available to pay for current period expenditures and, therefore, are not included in the governmental funds balance sheet.

Interest on long-term liabilities accrued in the Statement of Net Assets will not be paid with current financial resources and, therefore, is not recognized in the governmental funds balance sheet.

Net assets of governmental activities


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$ 40,681,003

215,483,165

3,421,575

(200,389,111 )

1,348,617

(2,166,367)

$ 58,378,882

COMMUNITY UNIT SCHOOL DISTRICT 200 GOVERNMENTAL FUNDS

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED JUNE 30, 2011

WITH COMPARATIVE TOTALS FOR THE YEAR ENDED JUNE 30,2010 OPERATIONS AND MUNiCiPAL

MAINTENANCE TRANSPORTATION RETIREMENT/SOCIAL GENERAL FUND FUND FUND SECURITY FUND

Revenues Property taxes $ 91,932,514 $ 11,166,249 $ 3,283,445 $ 3,527,958 Corporate personal property

replacement taxes 1,981,799 208,996 State aid 33,741,075 4,134,479 Federal aid 9,284,783 Investment income 110,416 841 Other 5,515,732 265,622 130,896

Total revenues 142,566,319 11,431,871 7,548,820 3,737,795

Expenditures Current:

Instruction: Regular programs 54,625,805 776,590 Special programs 20,095,376 991,061 Other instructional programs 10,206,593 166,097 State retirement contributions 20,166,574

Support Services: Pupils 11,012,452 182,150 Instructional staff 3,808,391 85,207 General administration 2,036,555 85,649 School administration 8,223,272 392,192 Business 3,342,127 66,955 Transportation 305 7,652,969 7,372 Operations and maintenance 271,577 10,764,810 347,616 Central 3,664,749 201,320 Other supporting services 1,253,986 278

Community services 986,500 312 87,684 Payments to other districts and gov't units 1,198,609

Debt Service: Principal Interest and other

Capital outlay 356,046 247,148

Total expenditures 141,248,917 11,012,270 7,652,969 3,390,171

Excess (deficiency) of revenues over expenditures 1,317,402 419,601 (104,149) 347,624

Other financing sources (uses) Transfers in 558,850 Transfers (out) (558,850) (311 242)

Total other financing sources (uses) (558,850) 247,608

Net change in fund balance 758,552 667,209 (104,149) 347,624

Fund balance (deficit), beginning of year 29,449911 554,440 (2,931,275) 1,014,817

Fund balance (deficit), end of year $ 30,208,463 lli 1,221,649 lli (3,035,424) lli 1,362,441


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DEBT SERVICE CAPITAL TOTAL FUND PROJECTS FUND 2011 2010

$ 15,155,779 $ $ 125,065,945 $ 120,985,029

2,190,795 1,689,362 37,875,554 36,083,314

9,284,783 8,820,957 28,897 758 140,912 231,937

7 5,912,257 6,533,371

15,184,676 765 180,470,246 174,343,970

55,402,395 58,844,656 21,086,437 21,158,291 10,372,690 10,697,457 20,166,574 21,249,011

11,194,602 11,101,734 3,893,598 4,590,860 2,122,204 2,471,811 8,615,464 8,957,731 3,409,082 3,700,533 7,660,646 7,579,957

31,239 11,415,242 12,865,418 3,866,069 3,782,986

12,752 1,267,016 1,220,607 1,074,496 1,102,855 1,198,609 1,558,255

5,485,000 5,485,000 4,785,000 9,369,990 9,369,990 9,279,606

116,112 719,306 7,919,836

14,854,990 160,103 178,319,420 192,866,604

329,686 (159,338) 2,150,826 (18,522,634)

311,242 870,092 1,126,282 (870,092) (1,126,282)

311,242

329,686 151,904 2,150,826 (18,522,634)

9,552351 889,933 38,530,177 57,052,811

~ 9,882,037 ~ 1,041,837 ~ 40,681,003 ~ 38,530,177

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COMMUNITY UNIT SCHOOL DISTRICT 200 RECONCILIATION OF THE GOVERNMENTAL FUNDS

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES TO THE STATEMENT OF ACTIVITIES

YEAR ENDED JUNE 30, 2011

Net change in fund balances - total governrnental funds

Amounts reported for governmental activities in the Statement of Activities are different because:

Governmental funds report capital outlay as expenditures. However, in the Statement of Activities, the cost of these assets is allocated over their estimated useful lives and reported as depreciation expense. This is the amount by which depreciation exceeds capital outlay in the current period.

Certain grant revenue included in the Statement of Activities does not provide current financial resources and, therefore, is deferred in the fund statements.

The issuance of long-term debt (bonds, capital leases, etc.) provides current financial resources to the governmental funds, while its principal repayment consumes current financial resources of the governmental funds. Neither transaction, however, has any effect on net assets. This is the amount of current year principal repayments.

Governmental funds report the effects of issuance costs, premiums, discounts and similar items when the debt is issued. However, these amounts are deferred and amortized in the Statement of Activities. This is the amount of the current year, net effect of these differences.

In the Statement of Activities, operating expenses are measured by the amounts incurred during the year. However, certain of these items are included in the governmental funds only to the extent that they require the expenditure of current financial resources:

I nterest payable $ Compensated absences Net OPEB obligation

Change in net assets of governmental activities


- 17 -

38,703 18,578

(211 ,956)

$

$

2,150,826

(7,036,873)

30,049

5,485,000

(225,834)

(154.675)

248.493

Assets

Cash Investments

Total assets

Liabilities

Due to student groups

Total liabilities

COMMUNITY UNIT SCHOOL DISTRICT 200 AGENCY FUND

STATEMENT OF FIDUCIARY ASSETS AND LIABILITIES JUNE 30, 2011


- 18 -

AGENCY STUDENT ACTIVITY

FUND

$ 1,016,848 109,997

$ 1,126,845

$ 1,126,845

$ 1,126,845

COMMUNITY UNIT SCHOOL DISTRICT 200 NOTES TO BASIC FINANCIAL STATEMENTS

JUNE 30, 2011

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Community Unit School District 200 (the "District") operates as a public school system governed by a sevenmember board. The District is organized under the School Code of the State of Illinois, as amendcd. Thc accounting policics of the District conform to accounting principles generally accepted in the United States of America, as applicable to local govcrnmental units of this type. The following is a summary of the more significant accounting policies of the District:

Reporting Entity Accounting principles generally accepted in the United States of America require that the financial statements of the repOliing entity include: (1) the primary government, (2) organizations for which the primary government is financially accountable, and (3) other organizations for which the nature and significance of their relationship with the primary government are such that exclusion would cause the reporting entity's financial statements to be misleading or incomplete. The criteria provided by the Govermnent Accounting Standards Board has been considered and there are no agencies or entities which should be presented with the District. Using the same criteria, the District is not included as a component unit of any other governmental entity.

A legally separate, tax exempt organization should be reported as a component unit of a repOliing entity if all of the following criteria are met: (1) the economic resources received or held by the separate organization are entirely or almost entirely for the direct benefit of the primary government, its component units, or its constituents; (2) the primary government is entitled to, or has the ability to otherwise access, a majority of the economic resourccs receivcd or held by the separate organization; (3) the economic resources received or held by an individual organization that the specific primary government, or its component units, is cntitled to, or has the ability to otherwise acccss, arc significant to that primary government. Blended component units, although legally scparatc entities, are, in substance, part of the government's operations and arc reported with similar funds of the primary governmcnt. Each discretely presented component unit is reported in a separate column in the governmcnt-wide financial statements to emphasize that it is legally separate from the primary government. This repOli. does not contain any componcnt units.

Basis of Presentation

Government-wide Financial Statements The government-widc financial statements (i.e., the statement of net assets and the statement of activities) report information on all of the nonfiducimy activities of the District. The effect of interfund activity has been removed from these statements. The District's operating activities are all considered "governmental activities", that is, activities normally supportcd by taxes and intergovennnental revenues. The District has no operating activities that would be considered "business activities".

The statement of activities demonstrates the degree to which the direct expenses of a given function arc offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function. Program revenues include: (l) amounts paid by the recipient of goods or services offered by the program and (2) grants and contributions that are restricted to meeting the operational or capital requirements of a paIiicular function. Taxes and other items not properly included among program revenues are reported instead as gencral revenues.

- 19 -


JUNE 30, 2011

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (CONTINUED)

Governmental Funds Financial Statements Governmental funds financial statements are organized and operated on the basis of funds and are used to account for the District's general governmental activities. Fund accounting segregates funds according to their intended purpose, and is used to aid management in demonstrating compliance with finance-related legal and contractual provisions. A fund is an independent fiscal and accounting entity with a self-balancing set of accounts that comprise its assets, liabilities, reserves, fund balance, revenues and expenditures. The minimum number of funds is maintained consistent with legal and managerial requirements.

Separate financial statements are provided for all governmental funds and fiduciary funds; the fiduciary funds are excluded from the government-wide financial statements.

Measurement Focus and Basis of Accounting The government-wide financial statements are reported using the economic resources measurement focus, while the fiduciary fund statements do not have a measurement focus. The government-wide financial statements and the fiducimy fund financial statements are reported using the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded whcn a liability is incurred, regardless of the timing of related cash flows. Prope11y taxes are recognized as revenues in the year for which they arc levied. Grants and similar items are recognized as revenue when all eligibility requirements have been met.

Govermnental fund financial statements are reported using the flow of current financial resources measurement focus and the modified accrnal basis of accounting. Revenues are recognized when they are both "measurable and available". "Measurable" means that the amount of the transaction can be determined, and "available" means collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the Dis(ric( considers all revenues available if they are collected within 60 days after year-end. Expenditures are recorded when the related fund liability is incurred. However, expenditures for unmatured principal and interest on general long-term debt are recognized when due; and certain compensated absences, claims and judgments are recognized when the obligations are cxpectcd to be liquidated with expendable available financial resources.

Major Governmental Funds General Fund - the general operating fund of the District. It accounts for all financial resources except those required to be accounted for in another fund. This fund is primarily uscd for most of the instructional and administrative aspects of the District's operations. Revenues consistlargdy of local property taxes and state government aid.

Special Revenue Funds - account for the proceeds of specific revenue sources that are legally restricted or committed to expenditures for specified purposes, other than (hose accounted for in the Debt Service Fund, Capital Projects Funds or Fiduciary Funds.

Operations and Maintenance Fund - accounts for expenditures made for repair and maintenance of the District's buildings and land. Revenue consists primarily oflocal property (axes.

lhll1sportatio/1 Fund - accounts for all revenue and expenditures made for student transportation. Revenue is derived primarily from local properly taxes and state reimbursement grants.

- 20 -


JUNE 30, 2011


MunicljJal Retirement/Social Security Fund - accounts for the District's portion of pension contributions to the Illinois Municipal Retirement Fund, payments to Medicare, and payments to the Social Security System for non-certified employees. Revenue to finance the contributions is derived primarily from local property taxes and personal property replacement taxes.

Debt Service Fund - accounts for the accumulation of resources that are restricted, committed, or assigned for, and the payment of, long-term debt principal, interest and relatcd costs. The primary revenue source is local property taxes levied specifically for debt service.

Capital Project Funds - accounts for the financial resources that are restricted, committed, or assigned to be used for the acquisition or construction of, and/or additions to, major capital facilities.

Capital Projects Fund - accounts for construction projects and renovations financed through bond issues.

Other Fund Types

Fiduciary Funds - account for assets held by the District in a trustee capacity or as an agent for individuals, private organizations, other governments or other funds.

Agency Funds - include Student Activity Funds, Convenience Accounts and Other Agency Funds. These funds are custodial in nature and do not present results of operations or have a measurement focus. Although the Board of Education has the ultimate responsibility for Activity Funds, they are not local education agency funds. Student Activity Funds account for assets held by the District which are owned, operated and managed generally by the student body, under the guidance and direction of adults or a staff member, for educational, recreational or cultural purposes. Convenience Accounts account for assets that are normally maintained by a local education agency as a convenience for its faculty, staff, etc.

On-behalf payments (payments made by a third party for the benefit of the district, such as payments made by thc state to the Teachers' Retirement System) have been recognized in the financial statements.

Property taxes, replacement taxes, certain state and federal aid, and interest on investments are susceptible to accrual. Other receipts become measurable and available when cash is received by the District and recognized as revenue at that time.

Grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant. Accordingly, when such funds are received, they are recorded as deferred revenues until earned.

All Financial Statements The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenditures/expenses during the reporting period. Actual results could differ from those estimates.

Assets, Liabilities and Net Assets or Equity

Deposits and Investments

State statutes authorize the District to invest in obligations of the U.S. Treasury, certain highly-rated commercial paper, corporate bonds, repurchase agreements, and the State Treasurer's Investment Pool. Investments are stated at fair value. Changes in fair value of investments are ineluded as investment income.

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JUNE 30, 2011


Receivables and Payables

Transactions bctwcen funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year are referred to as "due to/frOlTI other funds". These amounts are eliminated in the governmental activities column in the statement of net assets. Receivables are expected to be collected within one year.

Deferred Revenue

Govcrnmcntal funds report deferred revenue in connection with receivables for revenues that are not considered to be available to liquidate liabilities of the current period. Property taxes levied for the subsequent year are not earned and cannot be used to liquidate liabilities of the current period. Governmental funds also defer revenue rccognition in connection with resources that have been received, but not yet earned. At the end of the current fiscal year, the various components of deferred revenue and unearned revenue reported in the governmental funds were as follows:

Unavailable Unearned Totals

Property taxes receivable for subsequent year $ $ 63,810,095 $ 63,810,095 Local receipts receivable 1,555,148 1,555,148 State and federal aid receivable 3,421,575 3,421,575

Total $ 3,421 ,575 $ 65,365,243 $ 68,786,818

Property Tax Revenues

The District must file its tax levy resolution by the last Tuesday in December of each year. The District's 2010 levy resolution was approved during the December 8, 2010 board meeting. The District's property tax is levied each year on all taxable real property located in the District and it becomes a lien on the property on JanuaIY 1 of that year. The owncr of real property on JanuaIY 1 in any year is liable for taxes of that year.

The tax rate ceilings are applied at the fund level. These ceilings are established by state law subject to change only by the approval of the voters of the District.

The PTELA limitation is applied in the aggregate to the total levy (excluding certain levies for the repayment of debt). PTELA limits the increase in total taxes billed to the lessor of 5% or the percentage increase in the Consumer Price Index (CPI) for the preceding year. The amount can be exceeded to the extent there is "new growth" in the District's tax base. The new growth consists of new construction, annexations and tax increment finance district propeliy becoming eligible for taxation. The CPI rates applicable to the 2010 and 2009 tax levies were 2.7% and 0.1 %, respectively.

Property taxes arc collected by the County Collector/Treasurer, who remits to the District its share of collections. Taxes levied in one year become due and payable in two equal installments: the first due on June I and the second due on September 1. Propeliy taxes are normally collected by the District within 60 days of the respective installment datcs.

Thc 2010 property tax levy is recognized as a receivable in fiscal 2011, net of estimated uncollectible amounts approximating 1 %. The District considers that the first installment of the 2010 levy is to be used to flnance operations in fiscal 2011. The District has determined that the second installment of the 2010 levy is to be used to finance operations in fiscal 2012 and has deferred the corresponding receivable.

- 22 -


JUNE 30, 2011


Personal Property Replacement Taxes Personal property replacement taxes are first allocated to the Municipal Retirement / Social Security Fund, and the balance is allocated to the remaining funds at the discretion of the District.

Capital Assets

Capital assets, which include land, land improvements, buildings, building improvements, vehicles, machinery, equipment, and construction in progress are reported in the government-wide financial statements. Capital assets are defined by the District as assets with an initial individual cost of more than $1,000 and an estimated useful life of more than I year. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at estimated fair value at the date of donation.

Depreciation of capital assets is provided using the straight-line method over the following estimated useful lives:

Assets

Buildings Land im provements Vehicles Equipment

Years

20-50 20 8 5-20

In the fund financial statements, capital assets used in governmental fund operations are accounted for as capital outlay expenditures of the governmental fund upon acquisition.

Compensated Absences Under terms of employment, employees are granted sick leave and vacations in varying amounts. Only benefits considered to be vested are disclosed in these statements.

All vested vacation and sick leave pay is accrued when incurred in the government-wide and proprietary fund financial statements. A liability for these amounts is reported in governmental funds only if they have matured, for example, as a result of employee resignations and retirements, or are payable with expendable available resources.

Payments for vacation and sick leave will be made at rates in effect when the benefits are used. Accumulated vacation and sick leave liabilities at June 30, 20 II are determined on the basis of current salary rates and include salary related payments.

Employees who work a twelve-month year are entitled to be compensated for vacation time. Applicable employees are allowed to carryover earned but unused vacation into the next fiscal year, with certain restrictions. The liability for unused compensated absences is reported on the government-wide financial statements.

For governmental funds, the current portion of the compensated absences is the amount that is due and payable from expendable available financial resources. These amounts are recorded in thc fund from which the employees who have accumulated vacation leave are paid. Administrators may carry 36 days of unused vacation time into the next year; any accumulated days in excess of (his transfer to sick days. Other staff may accumulate 15 days of vacation into the next year. Any days in excess ofthis are lost.

- 23 -


JUNE 30, 2011


All certified employees receive a specified number of annual sick days, depending on their years of service, in accordance with the agreement between the Board of Education and the Education Association. Unused sick leave may accumulate with no risk of loss. Upon retirement, a certified employee may apply up to 340 days of unused sick leave toward service credit for TRS.

Educational support personnel receive fifteen sick days per year, which accumulatc to a maximum of 180 days. The District does not reimburse employees for unused sick days remaining upon retirement or termination of employment.

Due to the nature of the policies on sick leave, no liability is provided in the financial statements for accumulated unpaid sick leave.

Long-Term Obligations

In the government-wide financial statements, long-tenn debt and other long-term obligations are reported as liabilities in the statcmcnt of net assets. Bond premiums and discounts, as well as issuance costs, are deferred and amortized over the life of the applicable bonds using the effective interest method. Bonds payable arc reported net of the applicable bond premium or discount. Bond issuance costs are reported as deferred charges and amortized over the term of the related debt.

In the fund financial statements, govermnental funds recognize bond premiums and discounts, as well as bond issuance costs, during the period incurred. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

Equity Classifications

Equity is classified as net assets in the government-widc financial statements and displayed in three components:

Invested in capital assets, net of related debt - Consists of capital assets including restricted capital assets, net of accumulated depreciation and reduced by the outstanding balances of any bonds, mortgages, notes, or other borrowings that are attributable to the acquisition, construction, or improvement of those assets less than any unspent debt proceeds.

Restricted net assets - Consists of net assets with constraints placed on their use either by 1) external groups such as creditors, grantors, contributors, or laws or regulations of other governments or, 2) law through constitutional provisions or enabling legislation.

Unrestricted net assets - All other net assets that do not meet the definition of "restricted" or "invested in capital assets, net of related debt."

Equity is classified as fund balance in the fund financial statements and displayed in five components:

Nonspendable - includes amounts not in spendable form, such as inventOly, or amounts required to be maintained intact legally or contractually (principal endowment) (e.g. inventory, pre-paid items, permanent scholarships).

Restricted - includes amounts constrained for a specific purpose by external parties (e.g. Debt Service, Capital Projects, State and Federal Grant Funds).

- 24-


JUNE 30, 2011

NOTE 1 . SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES· (CONTINUED)

Committed - includes amounts constrained for a specific purpose by a government using its highest level of decision making authority, the Board of Education. This formal action must occur prior to the end of the reporting period, but the amount of the commitment, which will be subject to the constraints, may be determined in the subsequent period. Any changes to the constraints imposed requirc the same formal action of the Board of Education board that originally created the commitment.

Assigned - includes general fund amounts constrained for a specific purpose by the Board of Education or by an official that has bcen delegated authority to assign amounts. The Board of Education has declarcd that the Superintendent or the Superintendent's designee may assign amounts for a specific purpose. The Board of Education may also take official action to assign amounts. Additionally, all remaining positive spendable amounts in governmental funds, other than the General Fund, that are neither restricted nor committed are considered assigned. Assignments may take place after the end of the reporting period.

Unassigned - includes residual positive fund balance within the General Fund which has not been classified within the other above mentioned categories. Unassigned fund balance may also include negative balanccs for any governmental fund if expenditures excced amounts restricted, committed or assigncd for those specific purposes.

In circumstances whcrc an expenditure is to be made for a purpose for which amounts are available in multiple fund balance classifications, the order in which resources will be expended in the General Fund is as follows: restricted fund balance, followed by conunittcd fund balance, assigned fund balance, and lastly, unassigncd fund balance. In all other funds (Special Revenuc, Debt Service, Capital Projects), assigned fund balance will be spcnt first, followed by committed fund balance, and then restricted fund balance.

The restricted fund balances are for the purpose of the respective funds as described abovc in the Major Govcnunental Funds section. The assib'11ed fund balances, if any, are for the purpose of the rcspcctive fund as described above in the Major Governmental Funds section.

Comparative Data The financial statements include summarized prior-year comparative information. Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America. Accordingly, such information should be read in conjunction with the District's financial statements for the year ended June 30, 20 I 0, from which such summarized information was derived.

Eliminations and Reclassifications In the process of aggregating data for the government-wide financial statements, some amounts reported as interfund activity and balances were eliminated or reclassified.

NOTE 2 • STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY

Excess of Expenditures over Budget For the year ended June 30, 2011, expenditures exceeded budget in the Transportation Fund by $27,969.

Deficit Fund Equity The Transportation Fund had a deficit fund balance of$3,035,424 as ofJune 30, 2011. District management expects to fund this deficit through future tax collections.

- 25 -


JUNE 30, 2011

NOTE 3 - CHANGES IN ACCOUNTING PRINCIPLES

For the fiscal year 2011, the District has implemented GASB Statement No. 54, Fnnd Balance Reporting and Governmental Fund Type Definitions.

NOTE 4 - DEPOSITS AND INVESTMENTS

At year end, the District's cash and investments was comprised of the following:

Government-wide Fiduciary Total

Cash and investments $ 40,632,616 lli 1,126,845 lli 41,759,461

Total lli 40,632616 lli 1,126,845 lli 41,759,461

For disclosure purposes, this amount is segregated into the following components: 1) deposits with financial institutions, which include amounts held in demand accounts, savings accounts and non-negotiable certificates of deposit; and 2) other investments, which consist of all investments other than certificates of deposit, as follows:

Deposits with financial institutions Other investments

Total

At year end, the District had the following investments:

Investment Maturity (In Years) Fair Value Less than 6 7-12

Educational Accounts: PFM - Liquid $ 622,993 $ 622,993 $

Debt Service Fund: PFM - Liquid 590,512 590,512

IMRFFund: PFM - Liquid 910 910

Capital Projects Fund: PFM - Liquid 1,049,645 1,049,645

Working Cash Accounts: PMA - Liquid 2,885 2,885 PFM - Liquid 1,189 1,189 PFM - Liquid 384 384

Total lli 2,268,518 lli 2,268,518 lli

- 26 -

$

lli

Cash and investments

$ 39,490,943 2,268,518

lli 41,759,461

More than 12


JUNE 30, 2011

NOTE 4 - DEPOSITS AND INVESTMENTS - (CONTINUED)

Interest Rate Risk. Interest rate risk is the risk that changes in interest rates will adversely affect the valuc of an investment. The District's investment policy seeks to ensure preservation of capital in thc District's overall portfolio, Return on investment is of secondary importance to safety of principal and liquidity, The policy does not limit investment maturities as a means of managing its exposure to fair value losses arising from increasing interest rates, However, the policy requires that District investment portfolio to be sufficiently liquid to enable the District to meet all operating requirements as they come due. A portion of the portfolio is required to be invested in readily available funds to ensure appropriate liquidity.

Credit Risk. Credit risk is the risk that an issuer or othcr counterparty to an investment will not fulfill its obligations. State Statutes limits the investments in commercial paper and corporate bonds to the top three ratings of two nationally recognized statistical rating organizations (NRSRO's). The District's investment policy authorizes investments in any type of security as permitted by Section 2 through 6 of the Illinois Public Funds Investment Act. As of June 30, 2011, all of the District's other investments had "AAAm" rating with their applicable rating agency.

Custodial Credit Risk - Deposits. With respect to deposits, custodial credit risk refers to the risk that, in the event of a bank failure, the District's deposits may not be returned to it. The District's investment policy limits the exposure to deposit custodial credit risk by requiring all deposits in excess of FDIC insurable limits to be secured by collateral in the event of default or failure of the financial institution holding the funds. As of June 30, 2011, the bank balance of the District's deposit with financial institutions totaled $43,279,242 and $4,086,509 of the balance was not collateralized nor insured.

Custodial Credit Risk - Investments. With respect to investments, custodial credit risk is the risk that, in the even of the failure of the counterparty, the District will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party. The District's investment policy limits the exposure to investment custodial credit risk by requiring all investments be secured by private insurance or collateral. None of the District's investments were exposed to custodial credit risk at year end.

NOTE 5 - INTERFUND LOANS

The composition of interfund loan balances as of June 30, 2011 for the District's individual major funds, is as follows:

Loan Receivable Fund

General Fund

Total

Loan Payable Fund

Transportation

Amount

$ 4,680,500

$ 4,680,500

The above interfund balances exist because to provide for general operating expenses. All amounts will be repaid within one year.

NOTE 6 - INTERFUND TRANSFERS

During the year, the Board of Education authorized the abatement ofa portion of the General Fund (Working Cash Accounts), thereby transferring fund balance of $558,850 to the Operations and Maintenance Fund.

- 27 -


JUNE 30, 2011

NOTE 6 - INTERFUND TRANSFERS - (CONTINUED)

Also during the year, the Board of Education transferred $311,242 from the Operations & Maintenance Fund to the Capital Projccts Fund for the final payments on open construction invoices on the Hubblc Middlc School project.

Statc law allows for the above transfers.

NOTE 7 - CAPITAL ASSETS

Capital asset activity for the District for the year ended June 30, 2011, was as follows:

Beginning Ending Balance Increases Decreases Balance

Caeital assets not being deereciated:

Land ~ 8,212,523 ~ ~ ~ 8,212,523

Total capital assets not being depreciated 8,212,523 8,212,523

Caeital assets being deereciated:

Land improvements 6,740,236 10,824 6,751,060 Buildings 301,974,827 162,112 302,136,939 Equipment 15,659,348 546,367 16,205,715 Vehicles 1,278,002 1,278,002

Total capital assets being depreciated 325,652,413 719,303 326,371,716

Less Accumulated Deereciation for:

Land improvements 3,047,713 178,498 3,226,211 Buildings 94,084,939 6,667,608 100,752,547 Equipment 13,127,029 849,692 13,976,721 Vehicles 1,085,217 60,378 1,145,595

Total accumulated depreciation 111,344,898 7,756,176 119,101,074

Net capital assets being depreciated 214,307,515 (7,036,873) 207,270,642

Net governmental activities capital assets ~ 222,520,038 ~ (7,036,873) ~ ~ 215,483,165

- 28 -


JUNE 30, 2011

NOTE 7 - CAPITAL ASSETS - (CONTINUED)

Depreciation expense was recognized in the operating activities of the District as follows:

Regular programs Special programs Pupils Instructional staff General administration School administration Business Operations and maintenance

Governmental Activities

Total depreciation expense - governmental activities

NOTE 8 - SHORT-TERM DEBT

A summary of activity in short-term debt of the District is as follows:

Beginning Balance Issued Retired

$

~

Depreciation

3,866,714 1,212,666

615,643 254,855 136,920 497,707 457,295 714,376

7,756,176

Ending Balance

Tax anticipation warrants payable

Total

$ $

$

12,000,000 $

12,000,000 $

12,000,000 :<.$ ____ _

$ 12,000,000 ~$=====

The short-term debt was issued due to payment of approvcd grants from the State of Illinois being delayed.

NOTE 9 - LONG TERM liABILITIES

Changes in General Long-term. Liabilities. The following is the long-term liability activity for the District for the year ended June 30, 2011:

Beginning Ending Due Within Balance Additions Deletions Balance One Year

General obligation bonds $ 205,720,000 $ $ 5,485,000 $ 200,235,000 $ 6,385,000 Deferred refunding (4,730,608) (402,189) (4,328,419) Unamortized premium/discount 2,973,256 341,314 2,631,942

Total bonds payable 203,962,648 5,424,125 198,538,523 6,385,000 Other post-employment benefits 1,027,837 455,291 243,335 1,239,793 Compensated absences 629,373 892,542 911,120 610,795 610,795

Total long-term liabilities -governmental activities ~ 205,619,858 ~ 1,347,833 ~ 6,578,580 ~ 200,389,111 ~ 6,995,795

The obligations for the compensated absences and othcr post-employment benefits will be repaid from the General Fund.

- 29 -


JUNE 30, 2011

NOTE 9 - LONG TERM liABILITIES - (CONTINUED)

General Obligation Bonds. Gencral obligation bonds are direct obligations and pledge the full faith and credit of thc District. Gcneral obligation bonds currcntly outstanding are as follows:

Original Carrying Purpose Interest Rates Indebtedness Amount

Series Building dated October 14, 2003 are due in annual installments through 2024 2.00-5.25% $ 39,730,000 $ 7,835,000

Series Working Cash dated September 1, 2004 are due in annual installments through 2015 2.00-4.00% 19,545,000 5,300,000

Series General Government - refunding dated February 12, 2002, May 15, 2003, September 1,2004, April 1 ,2005, February 1, 2006 and May 1, 2009 are due in annual installments through 2023 2.00-5.00% 91,530,000 68,950,000

Series Refunding and Building dated May 15, 2003, October 14, 2003 and March 31,2008 are due in annual installments through 2023 2.00%-5.25% 153,715,000 57,605,000

Series Refunding and Working Cash dated September 1, 2004 and May 1, 2009 are due in annual installments through 2025 3.00%-4.00% 63,005,000 60,545,000

Total lli 367,525,000 lli 200,235,000

In prior years, the District dcfeascd certain general obligation and other bonds by placing the proceeds of new bonds in an irrevocable trust to providc for all future debt service payments on the old bonds. Accordingly, the trust account assets and the liability for the defeased bonds are not includcd in the District's financial statements. At June 30, 2011, $115,230,000 of bonds outstanding are considcred defeased.

Annual dcbt scrvice requirements to maturity for general obligation bonds are as follows for governmental typc activities:

Principal Interest Total

2012 $ 6,385,000 $ 9,139,200 $ 15,524,200 2013 7,455,000 8,862,070 16,317,070 2014 8,610,000 8,536,989 17,146,989 2015 9,815,000 8,162,309 17,977,309 2016 11,240,000 7,703,169 18,943,169 2017 - 2021 80,935,000 28,943,858 109,878,858 2022 - 2026 75,795,000 6,588,491 82,383,491

Total lli 200,235,000 lli 77,936,086 lli 278,171,086

The District is subject to thc Illinois School Codc, which limits the amount of certain indebtedness to 13.8 percent ofthc most rccent available equalizcd assessed valuation of the District. As of June 30, 20 11, thc statutory dcbt limit for the District was $439,930,806, providing a debt margin of$239,695,806. There arc numerous covenants with which the District must comply in regard to these bond issues. As of June 30, 2011, the District was in compliance with all significant bond covcnants, including federal arbitrage regulations.

- 30 -


JUNE 30, 2011

NOTE 10 - RISK MANAGEMENT

The District is exposed to various risks of loss related to employee health benefits; workers' compensation claims; theft of, damage to, and destruction of assets; and natural disasters, To protect from such risks, the District participates in the following public entity risk pools: School Employees Loss Fund (SELF) for workers' compensation claims and Collective Liability Insurance Cooperative for all other risks of loss, including torts, gencralliability and professional liability insurance, The District pays annual premiums to the pools for insurance coverage, The arrangements with the pools provide that each will be self-sustaining through membcr premiums and will reinsure tlu'ough commercial companies for claims in excess of certain levels established by the pools. There have been no significant reductions in insurance coverage from coverage in any of the past three fiscal years,

The District is self-insured for medical coverage that is provided to District personnel. A third party administrator administers claims for a monthly fee per participant. Expenditures are recorded as incurred in the form of direct contributions from the District to the third party administrator for payment of employee health claims and administration fees, The District's liability will not exceed $175,000 per employee or $9,010,577 in the aggregate, as provided by stop-loss provisions incorporated in the plan.

At June 30, 20 II, total unpaid claims, including an estimate of claims that have been incurred but not reported to the administrative agent, totaled $1,495,807. The estimates are developed based on reports prepared by the administrative agent. The District does not allocate overhead costs or other nonincremental costs to the claims liability, For thc two years ended June 30, 2010 and June 30, 2011, changes in the liability reported in the General Fund for unpaid claims are sUll1ll1arized as follows:

Current Year Claims Payable Claims and

Beginning of Changes in Claims Claims Payable Year Estimates Payments End of Year

Fiscal Year 2010 $ 1,597,723 m 11,056,815 m 11,298,694 m 1,355,844

Fiscal Year 2011 m 1,355,844 m 10,451,825 m 10,311,862 m 1,495,807

NOTE 11 - OTHER POST-EMPLOYMENT BENEFITS

Teachers' Health Insurance Security The District participates in the Teacher Health Insurance Security (TI-IIS) Fund, a cost-sharing, multiplecmploycr defined benefit postemployment healthcare plan that was established by the Illinois legislature for the benefit of Illinois public school teachers employed outside the city of Chicago. The TI-IIS Fund provides medical, prescription, and behavioral health benefits, but does not provide vision, dental, or life insurance benefits to annuitants of the Teachers' Retirement System (TRS), Annuitants may participate in the state administered participating provider option plan or choose from several managed care options.

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JUNE 30, 2011

NOTE 11 - OTHER POST-EMPLOYMENT BENEFITS - (CONTINUED)

The State Employees Group Insurance Act of 1971 (5 ILCS 375) outlines the benefit provisions of THIS Fund and amendments to the plan can be made only by legislative action with the Governor's approval. The Illinois Department of Healtheare and Family Services (I-IFS) and the Illinois Department of Central Management Services (CMS) administer the plan with the cooperation ofTRS. The director ofI-IFS determines the rates and premiums for annuitants and dependent beneficiaries and establishes the cost-sharing parameters. Section 6.6 of the State Employees Group Insurance Act of 1971 requires all active contributors to the TRS who are not employees of the state make a contribution to THIS.

The percentage of employer required contributions in the future will be determined by the director of Healtheare and Family Services and will not exceed 105 percent of the percentage of salary actually required to be paid in the previous fiscal year.

On Behal{Contributions to THIS Fund. The State of Illinois makes employer retiree health insurance contributions on behalf of the District. State eontribntions are intended to match contributions to THIS Fund from active members which were 0.88 percent of pay during the year ended June 30, 2011. State of Illinois contributions were $740,058, and the District recognized revenues and expenditures of this amount during the year. State contributions intended to match active member contributions during the years ended June 30, 2010 and June 30, 2009 were also 0.84 percent of pay. State contributions on behalf of District employees were $736,960 and $721,513, respectively.

Employer Contributions to THIS Fund. The District also makes contributions to TI-US Fund. The employer nIlS Fund contribution was 0.66 percent during the year ended June 30,2011, and 0.63 percent during the years ended June 30, 2010, and June 30, 2009. For the year ended June 30, 2011, the District paid $555,043 to the THIS Fund. For the years ended June 30, 2010 and 2009, the District paid $552,720 and $541,135 to the nIlS Fund, respectively, which were 100 percent of the required contribution.

The publicly available financial report of the THIS Fund may be obtained by writing to the Depmtment of I-lealthcare and Family Services, 201 S. Grand Ave., Springfield, IL 62763-3838.

Defined Post-employment Benefit Plan The District administers a single-employer defined benefit healtheare plan ("the Defined Post-employment Benefit Plan"). The plan provides medical and prescription drug benefits for eligible retirees and their spouses through the District's self-insured insurance plan which covers both active and retired members. The dental coverage is provided for fully-insured retiree group life insurance to retired administrators up until age 65. Benefit provisions are established through personnel policy guidelines and state that eligible retirees and their spouses receive lifetime healtheare insurance at established contribution rates. The Defined Post-employment Benefit Plan does not issue a publicly available financial report.

Contribution requirements are established through personnel policy guidelines and may be amended by the action of the governing body. The District makes the same monthly health insurance contribution on behalf of the retiree as it makes on behalf of all other active employees during that year. The medical and dental benefit plans for the District are funded on a pay as you go basis. Retiree group life insurance premiums are paid monthly by the District. For fiscal year 2011, the District contributed $243,335 to the plan. Administrative costs of the Defined Post-employment Benefit Plan are paid by the District.

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JUNE 30, 2011


The District's annual other postcmployment benefit (OPEB) cost (expense) is calculatcd based on the annual required contribution of thc employer (ARC). Thc ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each year and amortize any unfunded actuarial liabilities (or funding excess) over a period not to exceed thirty years. The following table shows the components of the District's annual OPEB cost for the year, the amount actually contributed to the Defined Post-employment Benefit Plan, and changes in the District's net OPEB obligation to the Defined Post-employmcnt Benefit Plan:

Annual required contribution Interest on net OPEB obligation Adjustment to annual required contribution

Annual OPEB cost Contributions made

Increase in net OPEB obligation (asset)

Net OPEB Obligation (Asset) - Beginning of Year

Net OPEB Obligation (Asset) - End of Year

$

$

462,121 7,899

(14,729)

455,291 (243,335) 211,956

1.027,837

1 ,239,793

The District's annual OPEB cost, the percentage of annual OPEB cost contributed to the Defined Postemployment Benefit Plan, and the net OPEB obligation for June 30, 2011 and the two preceding years are as follows:

Percentage of AnnualOPEB Net OPEB

AnnualOPEB Cost Obligation Fiscal Year Ended Cost Contributed (Asset)

June 30, 2011 $ 455,291 53.45 % $ 1,239,793 June 30, 2010 455,291 56.08 % 1,027,837 June 30, 2009 584,270 32.02 % 827,854

The funded status of the Defined Post-employment Benefit Plan as of7/1/2009, the most recent actuarial valuation date, is as follows:

Actuarial accrued liability (AAL) $ 4,514,070 Actuarial value of plan assets

Unfunded Actuarial Accrued Liability (UAAL) $ 4,514,070

Funded ratio (actuarial value of plan assets/AAL) -%

Covered payroll (active plan members) $ 16,387,381

UAAL as a percentage of covered payroll 27.55%

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JUNE 30, 2011


Actuarial valuations of an ongoing plan involve estimates for the value of reported amounts and assumptions about the probability of occurrcnce of events far into the future. Examples include assumptions about future employment, mortality, and the healthcare cost trend. Amounts determined regarding the funded status of the plan and annual required contributions of the employer are subject to continual revision as actual results are compared with past expectations and new estimates are made about the future. The schedule of funding progress, presented as required supplementary information following the notes to the financial statements, presents multiyear trend information that shows whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued liabilities for benefits.

Projections ofbenellts for financial repOItiug purposes are based on the substantive plan (the plan is undcrstood by the employer and plan members) and include the type of benefits provided at the time of each valuation and the historical pattern of sharing benefit costs between the employer and plan members to that point. The methods and assumptions used include techniques that are designed to reduce short-term volatility in actuarial accrued liabilities and thc actuarial value of assets, consistent with the long-term perspective ofthc calculations.

In the 711 12009 actuarial valuation, the proj ected unit credit actuarial cost method was used. The actuarial assumptions include a 3 percent investment rate of return and an annual healthcare cost trend rate of 10 percent initially, reduced by dccrements to an ultimate rate of 3 percent after 5 years. Both rates include a 3 percent inflation assumption. The actuarial value of the Defined Post-employment Benefit Plan assets was determined using techniques that spread the effects of short-term volatility in the market value of investments over a threeyear period. The Defined Post-employment Benefit Plan's unfunded actuarial accrued liability is being amortized as a level of percentage of projected payroll on an open basis. The remaining amortization pcriod at June 30, 2011 is 30 years.

NOTE 12 - RETIREMENT SYSTEMS

The retirement plans of the District include the Teachers' Retirement System of the State oflilinois (TRS) and the Illinois Municipal Retiremcnt Fund (IMRF). Most funding for TRS is provided through payroll withholdings of certitled employees and contributions made by the State of Illinois on-behalf of the District. IMRF is funded through property taxes and a pcrpetuallien of the District's corporate personal property replacement tax. Each retircment system is discussed below.

Teachers' Retirement System The District participates in thc Teachers' Retirement System of the State of Illinois erRS). TRS is a cost-sharing, multiple-employer defined benefit pension plan that was created by the Illinois legislature for the benefit of Illinois public school teachers employed outside the city of Chicago.

The Illinois Pension Code outlines the benefit provisions ofTRS, and amendments to the plan can be made only by legislative action with the governor's approval. The State of Illinois maintains primary responsibility for the funding of thc plan, but contributions from participating employers aud members arc also required. The TRS Board of Trustees is responsible for the System's administration.

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JUNE 30, 2011

NOTE 12 - RETIREMENT SYSTEMS - (CONTINUED)

TRS members include all active nonannuitants that are employed by a TRS-covered employer to provide services for which teacher certification is required. The active member contribution rate for the year ended June 30, 2011 was 9.4 percent of creditable earnings. The same contribution ratc applies to members whose first contributing service is on or after January 1,2011, the effective date of the benefit changes contained in Public Act 96-0889. These contributions, which may be paid on behalf of the employees by the employer, are submitted to TRS by the District. The active member contribution rate was also 9.4 percent for the years ended June 30, 2010 and 2009.

The state of Illinois makes contributions directly to TRS on behalf of the District's TRS-covered employee.

On Behalf Contributions. The State of Illinois also makes contributions directly to TRS on behalf of the District's TRS-covered employees. For the year ended June 30, 2011, State of Illinois contributions were based on 23.10 percent of creditable earnings not paid from federal funds, and the District recognized revenue and expenditures of$19,426,516 in pension contributions that the State of Illinois paid directly to TRS. For the years ended June 30, 2010 and 2009, the State of Illinois contributions rates as percentages of creditable earnings not paid from federal funds were 23.38 percent ($20,512,051) and 17.08 percent ($14,670,769), respectively.

The District makes other types of employer contributions directly to TRS:

2.2 Formula Contributions. For the years ended June 30, 2011, 2010 and 2009, the District contributed 0.58 percent of creditable earnings for the 2.2 formula change. This rate is specitled by statute. Contributions for those years were $487,765, $508,853 and $498,188, respectively.

Federal and Trust Fund Contributions. When TRS members are paid from federal and special trust funds administered by the District, there is a statutory requirement for the District to pay an additional TRS contribution from those funds. Under a policy adopted by the TRS Board of Trustees that was first effective in the fiscal year ended June 30, 2006, employer contributions for employees paid from federal and special trust funds will be the same as the state contribution rate to TRS.

For the year ended June 30, 2011, the employer pension contribution was 23.10 percent of salaries paid from federal and special trust funds. For the years ended June 30, 2010 and 2009, the employer pension contribution was 23.38 and 17.08 percent, respectively, of salaries paid from those funds. For the year ended June 30, 2011, salaries totaling $1,052,251 were paid from federal and special trust funds that required employer contributions of $243,070, which was equal to the District's actual contribution. For the years ended June 30, 2010 and 2009, required District contributions were $258,533 and $172,545, respectively.

Early Retirement Option. The District is also required to make one-time employer contribntions to TRS for mcmbers retiring under the Early Retirement Option (ERO). The payments V31Y depending on the age and salary of the member.

The maximum employer ERO contribution is 117.5 percent and applies when the member is age 55 at retirement.

For the year ending June 30, 2011, the District paid $105,574 to TRS for District contributions under the ERO program. For the years ended June 30, 2010 and 2009, the District paid $86,771 and $112,931, respectively, in ERO contributions.

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JUNE 30, 2011


Salary increases over 6 percent and excess sick leave. If an employer grants salary increases over 6 percent and those salaries are used to calculate a retiree's Ilnal average salary, the employer makes a contribution to TRS. The contribution will cover the difference in actuarial cost of the benefit based on actual salary increases and the benefit based on salary increases of up to 6 percent.

For the years cnded June 30,2011,2010 and 2009, the District paid $117,492, $54,511 and $16,846, respectively, to TRS for employer contributions due on salmy increases in excess of 6 percent.

If an employer grants sick leave days in excess of the normal annual allotment and those days are used as TRS service credit, the employer makes a contribution to TRS. The contribution is based on the number of excess sick leave days used as service eredit, the highest salmy used to calculate final average salary, and the TRS total normal cost rate (18.03 percent of salary during the year ended June 30, 2011, as recertified pursuant to Public Act 96-1511).

TRS financial information, an explanation ofTRS's benefits; and descriptions of member, employer and state funding requirements, can be found in the TRS Comprehensive Annual Financial Report for the year ended June 30, 2010. The report for the year ended June 30, 2011, is expected to be available in late 2011.

The reports may be obtained by writing to the Teachers' Retirement System of the State of Illinois, P.O. Box 19253,2815 West Washington Street, Springfield, IL 62794-9253. The most current report is also available on the TRS Web site at www.trs.illinois.gov.

Illinois Municipal Retirement Fund Plan Description. The District's dellned benellt pension plan for Regular employees provides retirement and disability benefits, post retirement increases, and death benefits to plan members and beneficiaries. The District's plan is afflliated with the Illinois Municipal Retirement Fund (IMRF), an agent multiple-employer plan. Benellt provisions are established by statute and may only be changed by the General Assembly of the State of Illinois. IMRF issues a publicly available financial report that includes financial statements and required supplementary information. The report may be obtained on-line at www.imrf.org.

Funding Policy. As set by statute, District employees participating in IMRF are required to contribute 4.50 percent of their annual covered salary. The statute requires the District to contribute the amount necessary, in addition to member contributions, to llnance the retirement coverage of its own employees. The District's contribution rate for calendar year 2010 was 9.48 percent of annual covered payrolL The employer annual required contribution rate for calendar year 2010 was 11.27 percent. The District also contributes for disability benefits, death benellts and supplemental retirement benefits, all of which are pooled at the IMRF leveL Contribution rates for disability and death benefits are set by the IMRF Board ofTlUstees, while the supplemental retirement benellts rate is set by statute.

Annual Pension Cost. For December 31, 2010, the employer's actual contributions for pension cost for the Regular were $1,535,869. Its required contribution for calendar year 2010 was $1,291,929. This results in an Net Pension Obligation of$243,940. For December 31, 2009 and December 31, 2008 the District's annual pension cost of $1 ,213,657 and $1,213,733, respectively, was equal to the District's required and actual contributions.

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JUNE 30, 2011


The required contribution for 20 I 0 was determined as part of the December 31, 2008, actuarial valuation using the entry age actuarial cost method. The actuarial assumptions at December 31, 2008, includcd (a) 7.50% investment rate of return (net of administrative expenses), (b) projected salary increases of 4.00% a ycar, attributable to inflation, (c) additional projected salary increases ranging from 0.4% to 10% per year depending on age and service, attributable to seniority/merit, and (d) post-retirement bcnefit incrcascs of 3% annually. The actuarial value of IMRF assets was determined using teclmiques that smooth the effects of short-term volatility in the market value of investments over a five-year period with a 20% corridor between the actuarial and market value of assets. The employer Regular plan's unfunded actuarial accrued liability at December 31, 2008 is being amortized as a level percentage of projected payroll on an open 30 basis.

Funded Status and Funding Progress. As of December 31, 2010, the most recent actuarial valuation date, the Regular plan was 78.08 percent funded. The actuarial accrued liability for benefits was $37,964,927 and the actuarial value of assets was $29,641,968, resulting in an underfunded actuarial accrued liability (UAAL) of $8,322,959. The covered payroll for calendar year 2010 (annual payroll of active employees covered by the plan) was $13,627,945 and the ratio of the UAAL to the covered payroll was 61.07 percent.

The schedule of funding progress, presented as RSI following the notes to the financial statements, presents mUltiyear trend information about whether the actuarial value of plan assets in increasing or decreasing over time relative to the actuarial accrued liability for benefits.

NOTE 13 - STATE AND FEDERAL AID CONTINGENCIES

The District has received federal and state grants for specific purposes that are subject to review and audit by the grantor agencies. Such audits could lead to requests for reimbursements to the grantor agency for expenditures disallowed under terms of the grants. Management believes such disallowances, if any, would be immaterial.

NOTE 14 - STATE OF ILLINOIS FUNDING

The District receives approximately 22% of its annual revenue from the State of Illinois ("the state"). Published reports have indicated that the state is experiencing financial difficulties which have led to delays in the state's funding of cel1ain grant programs to Illinois school districts. Included in District receivables at Junc 30, 20 II is $5,086,023 of amounts the state has acknowledged as due the District in past due grant funds. Of this amount, $1,664,449 was received by August, 2011. The remaining uncollected amount has not been recognized as current year revcnue in the fund financial statements since it does not meet the District's criteria of availability used for revenue recognition.

It is believed that the state will continue to delay payment of certain grants during subsequent fiscal years. At June 30,2011, the District feels it has adequate fund balance reserves to sustain the revenue shortfall; however, continued delays into subsequent years, or a change in the method of state funding, could have an adverse effect on future District financial results.

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JUNE 30, 2011

NOTE 15 - RESTATEMENT

Fund balance has been restated due to the implementation ofGASB Statement No. 54. The Working Cash Fund previously rep0l1ed as a special revenue fund has been combined with the General Fund for financial reporting purposes using the new fund-type definitions described under GASB Statement No. 54.

Fund balance as previously reported, June 30, 2010 Adjustment to include Working Cash fund balance as of June 30, 2010

Fund balance as restated, June 30, 2010

Fund balance as previously reported, June 30, 2009 Adjustment to

Fund balance as restated, June 30, 2009

Working Cash General Fund Fund

$

$

(3,894,614) $ 33.344,525

33,344,525 (33,344,525)

29,449.911 £,$ ==~=

Working Cash General Fund Fund

$ (562,079) $ 41,319,395

41,319,395 (41,319,395)

$ 40,757,316 £,$ ==~=

Comparative total columns of the previous year have been restated to reflect these changes.

NOTE 16 - SUBSEQUENT EVENTS

On June 30, 2011, the District entered into a Real Estate Purchase Agreement for the former Hubble Middle School building. The sale price of the building was $5,000,200. The Real Estate Purchase Agreement was entered into with Bradford Real Estate Corp. The transaction had not been officially closed as of the report issuance date of October 6, 2011.

- 38 -

Actuarial Valuation

Date

12/31/10 12/31/09 12/31/08

Actuarial Valuation

Date

12/31110 12/31/09 12/31/08

COMMUNITY UNIT SCHOOL DISTRICT 200 ILLINOIS MUNICIPAL RETIREMENT FUND

SCHEDULE OF EMPLOYER'S CONTRIBUTIONS AND ANALYSIS OF FUNDING PROGRESS JUNE 30, 2011

Annual Pension Percentage of Net Pension Cost (APC) APC Contributed Obligation

$ 1,535,869 84% $ 243,940 1,213,657 100% 1,213,733 100%

Actuarial UAAL as a Actuarial Value Accrued Liability Unfunded AAL Percentage of

of Assets (AAL) Entry Age (UAAL) Funded Ratio Covered Payroll Covered Payroll (a) (b) (b-a) (alb) (c) ((b-a)/c)

$ 29,641,968 $ 37,964,927 $ 8,322,959 78.08% $ 13,627,945 61.07% 27,435,783 35,809,334 8,373,551 76.62% 14,079,543 59,47% 26,778,559 34,170,440 7,391,881 78.37% 14,262,433 51.83%

See Auditor's Report and Notes to Required Supplementary Information

- 39 -

Actuarial Valuation

Date

7/1109 7/1107

COMMUNITY UNIT SCHOOL DISTRICT 200 SCHEDULE OF FUNDING PROGRESS FOR DEFINED POST-EMPLOYMENT BENEFIT PLAN

JUNE 30, 2011

Actuarial UAAL as a Actuarial Value Accrued Liability Unfunded AAL Percentage of

of Assets (AAL) Entry Age (UAAL) Funded Ratio Covered Payroll Covered Payroll (a) (b) (b-a) (alb) (c) ((b-a)/c)

$ $ 4,514,070 $ 4,514,070 NIA $ 16,387,381 27.55% $ $ 3,681,907 $ 3,681,907 NIA $ 17,619,387 20.90%

Valuations must be performed every two years for OPEB plans with more than 200 members and at least every three years for plans with fewer than 200 members. As such, only two year's information is applicable.


- 40 -

COMMUNITY UNIT SCHOOL DISTRICT 200 GENERAL FUND

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET TO ACTUAL - NON-GAAP BUDGETARY BASIS

FOR THE YEAR ENDED JUNE 30, 2011 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 30, 2010

2011 ORIGINAL AND VARIANCE WITH 2010 FINAL BUDGET ACTUAL FINAL BUDGET ACTUAL

Revenues

Local sources

General levy $ 91,595,000 $ 91,612,218 $ 17,218 $ 87,604,759 Special education levy 325,000 320,296 (4,704) 323,006 Corporate personal property replacement taxes 1,565,000 1,981,799 416,799 1,499,366 Regular tuition from pupils or parents (in state) 1,611,000 1,770,761 159,761 1,542,620 Summer school - tuition from pupils or parents

(in state) 100,000 211,185 111,185 234,415 Special education - tuition from pupils or

parents (in state) 6,000 6,000 Special education - tuition from other LEA's (in

state) 36,000 (36,000) Investment income 200,000 110,416 (89,584) 107,681 Sales to pupils - lunch 1,700,000 1,377,600 (322,400) 1,557,200 Admissions - athletic 84,000 122,356 38,356 74,871 Fees 11,085 11,085 2,315 Book store sales 400,000 519,876 119,876 349,085 Other pupil activity revenue 6,762 6,762 21,025 Contributions and donations from private

sources 2,255 2,255 Impact fees from municipal or county

governments 356,199 Refund of prior years' expenditures 200,000 309,299 109,299 22,071 Driver's education fees 100,000 117,842 17,842 69,232 Other 1,500,000 1,060,711 (439,289) 1,320,971

Total local sources 99,416,000 99,540,461 124,461 95,084,816

State sources

General state aid 5,960,000 5,958,772 (1,228) 6,191,301 Special education - private facility tuition 1,200,000 835,451 (364,549) 864,434 Special education - extraordinary 2,900,000 2,465,121 (434,879) 1,336,121 Special education - personnel 3,200,000 3,270,172 70,172 2,327,612 Special education - orphanage - individual 25,000 34,151 9,151 126,911 Special education - orphanage - summer 4,435 4,435 6,731 Special education - summer school 38,000 19,608 (18,392) 26,021 CTE - Secondary program improvement 69,510 747 (68,763) 68,252 CTE - Other 8,700 (8,700) Bilingual education - downstate - TPI 393,000 601,634 208,634 124,165 State free lunch & breakfast 50,000 54,865 4,865 21,632 School breakfast initiative 269 269 316 Driver education 70,000 96,692 26,692 72,072 Reading improvement block grant 148,630 148,630 148,631 School safety & educational improvement block

grant 56,820 56,820 56,810 Other restricted revenue from state sources 27,134 27,134

Total state sources 13,914,210 13,574,501 (339,709) 11,371 009


- 41 -


SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET TO ACTUAL - NONGAAP BUDGETARY BASIS

FOR THE YEAR ENDED JUNE 30, 2011 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 30,2010


Federal sources

Title V - Innovation and flexibility formula $ 17,500 $ $ (17,500) $ National school lunch program 1,000,000 1,091,539 91,539 1,023,020 School breakfast program 150,000 200,707 50,707 150,433 Title I - Low income 956,000 946,912 (9,088) 868,291 Title IV - Safe & drug free schools - formula 33,100 2,737 (30,363) 32,588 Federal - special education - preschool flow-

through 68,000 41,104 (26,896) 42,712 Federal - special education - IDEA - flow-

through/low incident 2,640,000 2,256,716 (383,284) 2,075,178 Federal - special education - IDEA - room &

board 370,000 461,598 91,598 716,966 Federal - special education - IDEA -

discretionary 29,500 (29,500) 29,500 CTE - Perkins - Title IIIE - tech. prep. 1,999 1,999 1,706 CTE - Other 50,000 49,438 (562) 39,735 General state aid - education stabilization 1,022,991 IDEA - part b - preschool 71,600 71,599 (1 ) 44,062 IDEA - part b - flow-through 1,848,645 1,838,649 (9,996) 1,313,933 Mckinney - Vento homeless education 2,811 Other ARRA funds - I 339,046 Other ARRA funds - XI 590,589 590,589 Title III - English language acquisition 138,750 188,683 49,933 233,943 Title II - Teacher quality 418,700 446,365 27,665 421,996 Medicaid matching funds - administrative

outreach 600,000 484,639 (115,361) 168,209 Medicaid matching funds - fee-for-service

program 472,935 472,935 178,680 Other restricted revenue from federal sources 620,000 138,574 (481,426) 115,157

Total federal sources 9,011,795 9,284,783 272,988 8820,957

Total revenues 122,342,005 122,399,745 57,740 115,276,782


- 42 -





Expenditures

Instruction

Regular programs Salaries $ 48,449,317 $ 48,415,711 $ 33,606 $ 51,235,900 Employee benefits 5,484,273 5,108,428 375,845 4,974,208 Purchased services 38,680 59,232 (20,552) 77,247 Supplies and materials 1,291,009 963,126 327,883 1,605,345 Capital outlay 169,870 49,641 120,229 107,107 Other objects 8,930 5,026 3,904 7,384 Non-capitalized equipment 74,282 (74,282) 77,012

Total 55,442,079 54,675,446 766,633 58,084,203

Pre-K programs Salaries 197,000 243,489 (46,489) 205,151 Employee benefits 33,980 29,571 4,409 31,651 Purchased services 455 Supplies and materials 4,000 3,357 643 3,519

Total 234,980 276,417 (41,437) 240,776

Special education programs Salaries 14,457,423 14,071,678 385,745 14,628,409 Em ployee benefits 1,488,377 1,399,934 88,443 1,284,742 Purchased services 167,000 183,403 (16,403) 224,713 Supplies and materials 492,893 191,620 301,273 249,054 Capital outlay 99,000 10,065 88,935 1,012 Other objects 900 950 (50) Non-capitalized equipment 8,502 (8,502) 21,206

Total 16,705593 15,866,152 839,441 16,409,136

Special education programs Pre-K Salaries 572,000 789,912 (217,912) 444,986 Employee benefits 11,269 65,775 (54,506) 41,725 Purchased services 100 100 45 Supplies and materials 7,000 21,282 (14,282) 5,349 Non-capitalized equipment 15,954 (15,954)

Total 590,369 892,923 (302,554) 492,105

CTE programs Salaries 1,500,411 1,535,578 (35,167) 1,540,401 Employee benefits 190,222 178,458 11,764 177,948 Purchased services 830 (830) 207 Supplies and materials 38,770 41,900 (3,130) 51,611 Other objects 400 316 84 374 Non-capitalized equipment 855 (855) 995

Total 1,729,803 1,757,937 (28,134) 1,771,536


- 43 -





Interscholastic programs Salaries $ 1,463,000 $ 1,446,425 $ 16,575 $ 1,605,543 Employee benefits 131,000 139,165 (8,165) 147,104 Purchased services 266,780 252,666 14,114 218,929 Supplies and materials 39,095 33,074 6,021 78,548 Capital outlay 5,000 1,199 3,801 2,800 Other objects 55,100 49,772 5,328 48,524 Non-capitalized equipment 7,748 (7,748) 595

Total 1,959,975 1,930,049 29,926 2,102,043

Summer school programs Salaries 306,000 355,113 (49,113) 378,418 Employee benefits 5,845 3,945 1,900 4,413 Purchased services 10,000 5,555 4,445 3,600 Supplies and materials 2,000 5,039 (3,039) 18,703 Other objects 6,206 (6,206) 2,916

Total 323,845 375,858 (52,013) 408,050

Gifted programs Salaries 1,204,000 1,129,967 74,033 1,141,142 Employee benefits 124447 147,661 (23,214) 106,923

Total 1 328447 1,277,628 50,819 1,248,065

Driver's education programs Salaries 311,352 318,386 (7,034) 301,677 Employee benefits 36,322 34,404 1,918 29,781 Supplies and materials 6,482 (6,482) 10,027

Total 347,674 359,272 (11,598) 341,485

Bilingual programs Salaries 3,917,047 3,712,237 204,810 3,961,142 Employee benefits 402,211 444,938 (42,727) 379,714 Purchased services 3,000 3,454 (454) Supplies and materials 32,690 70,002 (37,312) 63,504 Capital outlay 8,926 Non-capitalized equipment 12,308

Total 4,354,948 4,230,631 124,317 4,425,594

Truant's alternative and optional programs

Special education programs K-12 -private tuition Other objects 3,000,000 3,346,366 (346,366) 3,324,660

Total 3000000 3,346,366 (346,366) 3,324,660

Total instruction 86017713 84,988,679 1,029,034 88,847,653


- 44 -





Support services

Pupils

Attendance and social work services Salaries $ 1,919,000 $ 1,938,959 $ (19,959) $ 1,908,265 Employee benefits 193,884 192,995 889 178,235 Purchased services 3,000 2,600 400 1,055 Supplies and materials 16,500 3,103 13,397 19,335 Capital outlay 2,000 2,000 Non-capitalized equipment 1,790 (1,790) 902

Total 2,134,384 2,139,447 (5,063) 2,107,792

Guidance services Salaries 2,327,000 2,325,571 1,429 2,265,884 Em ployee benefits 197,249 198,822 (1,573) 186,396 Purchased services 1,000 339 661 Supplies and materials 1,765 2,068 (303) 1,441

Total 2,527,014 2,526,800 214 2,453,721

Health services Salaries 1,091,500 1,224,857 (133,357) 1,290,914 Em ployee benefits 131,969 117,179 14,790 117,208 Purchased services 10,600 12,951 (2,351 ) 12,499 Supplies and materials 45,720 21,868 23,852 53,033 Capital outlay 25,000 25,000 7,544 Non-capitalized equipment 1,830 (1,830) 4,157

Total 1,304,789 1,378,685 (73,896) 1,485,355

Psychological services Salaries 1,815,000 1,870,651 (55,651 ) 1,912,765 Em ployee benefits 176,772 204,574 (27,802) 168,319 Purchased services 4,000 413 3,587 3,394 Supplies and materials 27,950 24,864 3,086 20,970 Capital outlay 5,000 5,000 1,500 Non-capitalized equipment 2,785

Total 2,028,722 2,100,502 (71,780) 2,109,733

Speech pathology and audiology services Salaries 2,342,000 2,294,584 47,416 2,181,635 Employee benefits 242,452 273,732 (31,280) 226,550 Purchased services 7,500 847 6,653 5,997 Supplies and materials 17,200 10,478 6,722 15,533 Capital outlay 72,000 123,244 (51,244) 29,930 Non-capitalized equipment 33,967 (33,967) 1,825

Total 2,681,152 2,736,852 (55,700) 2,461,470


- 45 -





Other support services - pupils Salaries $ 20,000 $ 27,863 $ (7,863) $ 42,885 Em ployee benefits 1,390 (1,390) 1,420 Purchased services 142,000 112,616 29,384 157,547 Supplies and materials 123,000 103,791 19,209 109,738 Capital outlay 41,000 14,396 26,604 16,935 Other objects 8,500 190 8,310 8,567 Non-capitalized equipment 7,560 (7,560) 16,449

Total 334,500 267,806 66,694 353,541

Total pupils 11,010,561 11,150,092 (139,531) 10,971,612

Instructional staff

Improvement of instructional services Salaries 1,215,270 1,140,524 74,746 1,799,180 Employee benefits 210,222 262,162 (51,940) 307,000 Purchased services 193,091 175,999 17,092 133,827 Supplies and materials 106,153 35,239 70,914 64,729 Capital outlay 7,200 3,239 3,961 2,076 Other objects 13,530 953 12,577 1,700 Non-capitalized equipment 14,710 (14,710) 10,733 Termination benefits 11,390 (11,390) 15,093

Total 1,745,466 1,644,216 101,250 2,334,338

Educational media services Salaries 1,633,400 1,612,739 20,661 1,658,368 Em ployee benefits 202,122 160,593 41,529 189,527 Supplies and materials 156,425 138,501 17,924 166,764 Capital outlay 2,298 Non-capitalized equipment 1,990 (1,990) 1,193

Total 1,991,947 1,913,823 78,124 2,018,150

Assessment and testing Salaries 24,600 5,508 19,092 3,163 Employee benefits 37 (37) 228 Purchased services 238,000 211,030 26,970 135,328 Supplies and materials 47,970 24,159 23,811 9,778 Capital outlay 18,600 18,600 Non-capitalized equipment 12,857 (12,857)

Total 329,170 253,591 75,579 148,497

Total instructional staff 4,066,583 3,811,630 254,953 4,500,985


- 46 -





General administration

Board of education services Salaries $ 113,000 $ 112,752 $ 248 $ 102,560 Employee benefits 17,294 11,370 5,924 27,041 Purchased services 139,200 140,300 (1,100) 84,934 Supplies and materials 10,650 15,732 (5,082) 24,735 Capital outlay 2,000 2,000 Other objects 35,000 19,003 15,997 39,259 Non-capitalized equipment 7,880 (7,880) Termination benefits 3,395

Total 317,144 307,037 10,107 281,924

Executive administration services Salaries 307,000 309,382 (2,382) 380,358 Em ployee benefits 90,500 81,835 8,665 70,537 Purchased services 16,100 14,176 1,924 13,571 Supplies and materials 2,700 1,679 1,021 2,530 Capital outlay 1,000 1,000 Other objects 5,000 5,092 (92) 2,721 Non-capitalized equipment 1,100 (1,100) 349

Total 422,300 413,264 9,036 470,066

Special area administration services Salaries 1,072,300 1,034,568 37,732 1,077,682 Employee benefits 285,000 235,151 49,849 255,401 Purchased services 25,000 20,487 4,513 6,284 Supplies and materials 10,000 12,465 (2,465) 10,489 Capital outlay 27,365 26,389 976 Non-capitalized equipment 13,583 (13,583) 895 Termination benefits 43,500 43,500 45,037

Total 1,463,165 1,342,643 120,522 1,395,788

Tort immunity services Purchased services 235,267

Total 235,267

Total general administration 2,202,609 2,062,944 139,665 2,383,045


- 47 -





School administration

Office of the principal services Salaries $ 6,673,105 $ 6,747,749 $ (74,644) $ 7,119,382 Em ployee benefits 902,650 1,253,799 (351,149) 1,245,764 Purchased services 82,250 54,287 27,963 81,588 Supplies and materials 45,500 44,762 738 55,067 Capital outlay 13,365 9,918 3,447 1,199 Other objects 5,700 5,055 645 4,560 Non-capitalized equipment 1,929 (1,929) 18,168 Termination benefits 54,500 115,691 (61,191) 41,387

Total 7,777,070 8,233,190 (456,120) 8,567,115

Other support services" school administration Purchased services 1,644

Total 1,644

Total school administration 7,777,070 8,233,190 (456,120) 8,568,759

Business

Direction of business support services Salaries 469,000 466,852 2,148 435,229 Employee benefits 77,000 79,489 (2,489) 75,793 Purchased services 72,300 56,659 15,641 61,710 Supplies and materials 25,000 25,283 (283) 15,093 Capital outlay 5,000 5,000 Other objects 2,540 1,960 580 Termination benefits 2,066 (2,066)

Total 650,840 632,309 18,531 587,825

Fiscal services Salaries 95,000 95,091 (91 ) 95,091 Employee benefits 29,000 29,068 (68) 28,644 Supplies and materials 25,000 7,603 17,397 5,273 Other objects 20,700 (20,700) 6175

Total 149,000 152,462 (3,462) 135,183

Operation and maintenance of plant services Employee benefits 1,873 (1,873) 1,847 Purchased services 269,130 269,704 (574) 272,109 Supplies and materials 1,487 Capital outlay 32,577

Total 269,130 271,577 (2,447) 308,020


"48 "





Pupil transportation services Employee benefits $ $ 75 $ (75) $ 83 Purchased services 230 (230)

Total 305 (305) 83

Food services Salaries 225,000 126,620 98,380 220,275 Employee benefits 2,866 (2,866) 6,010 Purchased services 2,400,000 2,273,584 126,416 2,515,333 Supplies and materials 29,600 123,892 (94,292) 100,078 Capital outlay 75,000 75,000 Non-capitalized equipment 23477

Total 2,729,600 2,526,962 202638 2,865,173

Internal services Salaries 117 Purchased services 3,046 (3,046) 4,240 Supplies and materials 21,000 27,348 (6 348) 32,067

Total 21,000 30,394 (9,394) 36,424

Total business 3,819,570 3,614,009 205,561 3,932,708

Central

Planning, research, development and evaluation services Salaries 51,500 50,726 774 50,726 Employee benefits 8,546 13,057 (4,511) 13,276

Total 60,046 63,783 (3,737) 64,002

Information services Salaries 201,000 229,476 (28,476) 202,790 Employee benefits 45,457 58,870 (13,413) 77,949 Purchased services 305,500 277,373 28,127 315,387 Supplies and materials 2,500 3,884 (1,384) 2,715 Capital outlay 5,000 5,000 4,914 Other objects 500 1,030 (530) 375 Non-capitalized equipment 1,561 (1,561)

Total 559,957 572,194 (12,237) 604,130


- 49 -





Staff services Salaries $ 621,500 $ 624,313 $ (2,813) $ 607,120 Em ployee benefits 78,203 123,236 (45,033) 108,567 Purchased services 46,300 35,601 10,699 29,157 Supplies and materials 6,750 6,085 665 6,329 Capital outlay 2,400 5,015 (2,615) Other objects 3,000 2,036 964 2,313 Non-capitalized equipment 7,119

Total 758 153 796,286 (38,133) 760,605

Data processing services Salaries 910,000 847,300 62,700 828,239 Employee benefits 93,234 103,468 (10,234) 90,698 Purchased services 292,390 449,421 (157,031) 297,860 Supplies and materials 197,800 220,238 (22,438) 225,499 Capital outlay 607,000 105,689 501,311 5,683 Non-capitalized equipment 607,493 (607,493) 725,151 Termination benefits 2,000 9,581 (7,581 )

Total 2,102,424 2,343,190 (240,766) 2,173,130

Total central 3,480,580 3,775,453 (294873) 3,601,867

Other supporting services Employee benefits 105,000 105,000 Purchased services 1,364,000 1,253,986 110,014 1,212,565 Supplies and materials 5,000 5,000

Total 1,474,000 1,253,986 220,014 1,212,565

Total support services 33,830,973 33,901,304 (70,331 ) 35,171,541

Community services

Salaries 565,275 660,080 (94,805) 670,196 Em ployee benefits 62,000 70,340 (8,340) 61,322 Purchased services 85,179 65,132 20,047 78,959 Supplies and materials 129,460 155,408 (25,948) 164,003 Capital outlay 5,200 7,251 (2,051 ) 6,050 Other objects 900 950 (50) 950 Non-capitalized equipment 34,590 (34,590) 25,258

Total community services 848,014 993,751 (145,737) 1,006,738

Payments to other districts and governmental units

Payments for regular programs Other objects 13,000 2,247 10,753 1,335

Total 13,000 2,247 10,753 1,335


- 50 -





Other payments to in-state governmental units Other objects ~ ~ 9,510 ~ (9,510) ~

Total 9,510 (9,510)

Payments for special education programs - tuition Other objects 700,000 545,098 154,902 745,683

Total 700,000 545,098 154,902 745,683

Payments for CTE programs - tuition Other objects 832,000 618,024 213,976 811,237

Total 832,000 618,024 213,976 811,237

Payments for regular programs -transfers Other objects 23,730 (23,730)

Total 23,730 (23,730)

Total payments to other districts and governmental units 1,545,000 1,198,609 346,391 1,558,255


Excess (deficiency) of revenues over expenditures 100,305 1,317,402 1,217,097 (11,307,405)

Other financing sources (uses)

Permanent transfer from working cash fund -abatment (558,850) (558,850)

Total other financing sources (uses) (558,850) (558,850)

Net change in fund balance ~ 100,305 758,552 ~ 658,247 (11,307,405)

Fund balance, beginning of year 29,449,911 40,757,316

Fund balance, end of year ~ 30,208,463 ~ 29,449,911


- 51 -

COMMUNITY UNIT SCHOOL DISTRICT 200 OPERATIONS AND MAINTENANCE FUND

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET TO ACTUAL FOR THE YEAR ENDED JUNE 30, 2011

WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 30, 2010


Revenues

Local sources

General levy $ 11,110,000 $ 11,166,249 $ 56,249 $ 11,639,544 Investment income 5,000 (5,000) 15,148 Rentals 200,000 176,854 (23,146) 195,366 Refund of prior years' expenditures 500 23,373 22,873 33,453 Other 150,000 65,395 (84,605) 456,733

Total local sources 11,465,500 11,431,871 (33,629) 12,340,244

Total revenues 11,465,500 11,431,871 (33,629) 12,340,244

Expenditures

Support services

Business

Facilities acquisition and construction service Capital outlay 500,000 137,927 362,073

Total 500,000 137,927 362,073

Operation and maintenance of plant services Salaries 2,240,000 2,241,040 (1,040) 2,223,084 Employee benefits 750,000 734,746 15,254 723,403 Purchased services 4,615,500 4,752,023 (136,523) 4,712,011 Supplies and materials 3,200,000 2,992,334 207,666 3,225,015 Capital outlay 160,000 109,221 50,779 86,434 Non-capitalized equipment 44,091 (44,091 ) 32,463 Term ination benefits 576 (576) 2,350

Total 10,965,500 10,874,031 91,469 11,004,760

Total business 11,465,500 11,011,958 453,542 11,004,760

Total support services 11,465,500 11,011 958 453,542 11,004,760


- 52 -

COMMUNITY UNIT SCHOOL DISTRICT 200 OPERATIONS AND MAINTENANCE FUND



Community services

Purchased services

Total community services

Total expenditures

Excess (deficiency) of revenues over expenditures


Permanent transfer from working cash fund -abatment

Permanent transfer from capital projects fund

Transfer to capital projects fund

Total other financing sources (uses)

Net change in fund balance

Fund balance (deficit), beginning of year

Fund balance, end of year

ORIGINAL AND FINAL BUDGET

$

11,465,500

$

$

$

2011

ACTUAL VARIANCE WITH FINAL BUDGET

2010 ACTUAL

(31 2) ,,-$ __ .=;20"-",,,23,-=2 312 $

312 ___ ~(3~1~2) ___ -""'20"-',2"'3'-=2

11,012,270

419,601

558,850

(311 ,242)

247,608

667,209 $

554,440

1,221,649

453,230 11,024,992

419,601 1,315,252

558,850

1,126,282 (311 ,242) ___ ---''--_

247,608 1 ,126,282

667,209 2,441,534

(1,887,094)

$ 554,440


- 53 -

COMMUNITY UNIT SCHOOL DISTRICT 200 TRANSPORTATION FUND


WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 30, 2010 2011

ORIGINAL AND VARIANCE WITH 2010 FINAL BUDGET ACTUAL FINAL BUDGET ACTUAL

Revenues

Local sources

General levy $ 3,315,000 $ 3,283,445 $ (31,555) $ 3,230,058 Special education - transportation fees from

other LEAs (in state) 124,582 124,582 66,791 Investment income 1,500 (1,500) 4,597 Other local fees 8,500 6,314 (2,186) 6,592

Total local sources 3,325,000 3,414,341 89,341 3308,038

State sources

General state aid 600,000 600,000 Transportation - regular/vocational 700,000 602,745 (97,255) 1,141,195 Transportation - special education 2,900,000 2,931,734 31,734 2,322,099

Total state sources 4,200,000 4,134,479 (65,521 ) 3,463,294

Total revenues 7,525,000 7,548,820 23,820 6,771,332

Expenditures

Support Services

Business

Pupil transportation services Salaries 58,000 96,427 (38,427) 95,116 Employee benefits 23,400 21,557 1,843 22,612 Purchased services 7,311,500 7,159,961 151,539 7,213,950 Supplies and materials 9,000 9,000 6,042 Other objects 223,100 375,024 (151,924) 240,621

Total 7,625,000 7,652,969 (27,969) 7,578,341

Total business 7,625,000 7,652,969 (27,969) 7,578,341

Total support services 7,625,000 7,652,969 (27,969) 7,578,341

Total expenditures 7,625,000 7,652,969 (27,969) 7,578,341

Net change in fund balance $ (100,000) (104,149) lli (4,149) (807,009)

Fund balance (deficit), beginning of year (2,931,275) (2 124,266)

Fund balance (deficit), end of year lli (3,035,424) lli (2,931,275)


- 54 -

COMMUNITY UNIT SCHOOL DISTRICT 200 MUNICIPAL RETIREMENT/SOCIAL SECURITY FUND




Revenues

Local sources

General levy $ 1,777,500 $ 1,763,979 $ (13,521) $ 1,938,034 Social security/medicare only levy 1,777,500 1,763,979 (13,521) 1,938,034 Corporate personal property replacement taxes 170,000 208,996 38,996 189,996 Investment income 841 841 2,275


Total revenues 3,725,000 3,737,795 12,795 4,068,339

Expenditures

Instruction

Regular programs 969,450 776,590 192,860 867,560 Pre-K programs 6,000 3,319 2,681 2,812 Special education programs 995,200 945,293 49,907 926,248 Special education programs Pre-K 7,500 45,768 (38,268) 7,154 CTE programs 21,600 19,647 1,953 19,990 Interscholastic programs 43,000 37,629 5,371 41,102 Summer school programs 18,000 17,715 285 16,722 Gifted programs 18,000 15,557 2,443 15,602 Driver's education programs 4,400 4,426 (26) 4,247 Bilingual programs 80,000 67,804 12 196 71,159

Total instruction 2,163,150 1,933,748 229402 1,972,596

Support services

Pupils

Attendance and social work services 27,800 26,725 1,075 26,334 Guidance services 32,000 31,223 777 30,366 Health services 75,800 67,289 8,511 72,701 Psychological services 28,250 26,267 1,983 27,171 Speech pathology and audiology services 28,600 28,145 455 27,325 Other support services - pupils 2,100 2,501 (401 ) 2,134

Total pupils 194,550 182,150 12,400 186,031

Instructional staff

Improvement of instructional staff 64,000 54,274 9,726 61,353 Educational media services 33,300 30,748 2,552 32,847 Assessment and testing 185 (185) 49

Total instructional staff 97,300 85,207 12,093 94,249


- 55 -

COMMUNITY UNIT SCHOOL DISTRICT 200 MUNICIPAL RETIREMENT/SOCIAL SECURITY FUND




Board of education services Executive administration services Special area administration services

Total general administration


Office of the principal services

Total school administration

Business

Direction of business support services Fiscal services Facilities acquisition and construction

service Operations and maintenance of plant

services Pupil transportation services Food services

Total business

Central

Planning, research, development and evaluation services

Information services Staff services Data processing services

Total central

Other supporting services

Total support services

Community services

Total expenditures

Net change in fund balance

Fund balance, beginning of year

Fund balance, end of year

ORIGINAL AND FINAL BUDGET

$

$

1,600 $ 50,600 77,000

129,200

419,000

419,000

49,200 7,500

1,000

358,400 1,800

18,500

436,400

1,000 8,700

53,900 135,300

198,900

1 ,475,350

86,500

3,725,000

$

2011

ACTUAL VARIANCE WITH FINAL BUDGET

1,632 $ 14,440 69,577

(32) $ 36,160

7.423

85,649

392,192

392,192

48,159 7,078

347,616 7,372

11,718

421,943

720 20,161 50,602

129,837

201 ,320

278

1 ,368,739

43,551

26,808

26,808

1,041 422

1,000

10,784 (5,572) 6.782

14,457

280 (11,461)

3,298 5,463

(2,420)

(278)

106,611

87,684 (1,184)

3,390,171 334,829

347,624 ~$=~3~47 .. ,6~2,..4

1 ,014,817

1 ,362,441 $


- 56 -

2010 ACTUAL

1,542 19,113 68,111

88,766

390,171

390,171

45,156 7,202

796

335,306 1,533

23,570

413,563

733 14,727 49,199

127,057

191,716

805

1 ,365,301

81 ,935

3,419,832

648,507

366,310

1 ,014,817

COMMUNITY UNIT SCHOOL DISTRICT 200 NOTES TO REQUIRED SUPPLEMENTARY INFORMATION

JUNE 30, 2011

STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY

Budgetary Data Except for the exclusion of on-bchalfpayments from other governrnents, discussed below, the budgeted amounts for the Governmental Funds are adopted on the modified accrual basis, which is consistent with accounting principles generally accepted in the United States of America.

The Board of Education follows these procedures in establishing the budgetary data reflected in the general purpose financial statements:

I. The Administration submits to the Board of Education a proposed operating budget for the fiscal year commencing July I. The operating budget includes proposed expenditures and the means of financing them.

2. Public hearings are conducted and the proposed budget is available for inspection to obtain taxpayer comments.

3. Prior to September 30, the budget is legally adopted through passage of an resolution. By the last Tuesday in December, a tax levy resolution is filed with the county clerk to obtain tax revenues.

4. Management is authorized to transfer budget amounts, provided funds are transferred between the same function and object codes. The Board of Education is authorized to transfer up to a legal level of 10% of the total budget between functions within any fund; however, any revisions that alter the total expenditures of any fund must be approved by the Board of Education, after following the public hearing process mandated by law.

5. Formal budgetary integration is employed as a management control device during the year for all governmental funds.

6. All budget appropriations lapse at the end of the fiscal year.

The budget amounts shown in the financial statements are as originally adopted because there were no amendments during the past fiscal year.

Budget Reconciliations The Statement of Revenues, Expenditures and Changes in Fund Balance - Governmental Funds (GAAP basis) includes "on-behalf' payments received and made for the amounts contributed by the State of Illinois for the employer's share of the Teachers Retirement System pension. The District does not budget for these amounts in the Educational Accounts of the General Fund. The differences between the budget and GAAP basis are as follows:

General Fund Budgetary Basis To adjust for on-behalf payments received To adjust for on-behalf payments made

General Fund GAAP Basis

Excess of Expenditures over Budget

Revenues

$ 122,399,745 20,166,574

~ 142,566,319

For the year ended June 30, 2011, expenditures exceeded budget in the Transportation Fund by $27,969.

See Auditor's Report

- 57 -

Expenditures

$ 121,082,343

20,166,574

~ 141,248,917

COMMUNITY UNIT SCHOOL DISTRICT 200 DEBT SERVICE FUND


WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 30, 2010 2011

ORIGINAL AND VARIANCE WITH 2010 FINAL BUDGET ACTUAL FINAL BUDGET ACTUAL

Revenues

Local sources

General levy $ 14,876,000 $ 15,155,779 $ 279,779 $ 14,311,594 Investment income 35,000 28,897 (6,103) 36,628


Total revenues 14,911,000 15 184,676 273,676 14,348,222

Expenditures

Debt services

Payments on long term debt Interest on long term debt 9,366,000 9,365,690 310 9,274,556 Principal payments on long term debt 5,485,000 5,485,000 4,785,000

Total 14,851,000 14,850,690 310 14,059,556

Other debt service Other objects 5,200 4,300 900 5,050

Total 5,200 4,300 900 5,050

Total debt services 14,856,200 14,854,990 1 210 14,064,606

Total expenditures 14,856,200 14,854,990 1 210 14,064,606

Net change in fund balance $ 54,800 329,686 ~ 274,886 283,616

Fund balance, beginning of year 9,552,351 9,268735

Fund balance, end of year ~ 9,882,037 ~ 9,552,351

- 58-

COMMUNITY UNIT SCHOOL DISTRICT 200 CAPITAL PROJECTS FUND


WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 30,2010


Revenues

Local sources

Investment income $ 5,000 $ 758 $ (4,242) $ 65,608 Other 7 7 224,432

Total local sources 5,000 765 (4,235) 290,040

Total revenues 5,000 765 (4,235) 290,040

Expenditures

Support services

Business

Facilities acquisition and construction service Salaries 8,494 Em ployee benefits 7 Purchased services 5,750 (5,750) 500,645 Supplies and materials 13,215 (13,215) 823,135 Capital outlay 1,130,000 116,112 1,013,888 7,602,851 Non-capitalized equipment 12,274 (12,274) 3,266

Total 1,130,000 147,351 982,649 8,938,398

Total business 1,130,000 147,351 982,649 8938,398

Other supporting services Purchased services 12,752 (12,752) 7,237

Total 12,752 (12,752) 7,237

Total support services 1,130,000 160,103 969,897 8,945,635

Total expenditures 1,130,000 160,103 969,897 8,945,635

Excess (deficiency) of revenues over expenditures (1,125,000) (159,338) 965,662 (8,655,595)


Transfer to capital projects fund 311,242 311,242 Permanent transfer to operations and

maintenance fund (1,126,282)

Total other financing sources (uses) 311,242 311,242 (1,126,282)

Net change in fund balance ~ (1,125,000) 151,904 ~ 1,276,904 (9,781,877)

Fund balance, beginning of year 889,933 10,671,810

Fund balance, end of year ~ 1,041,837 ~ 889,933

- 59 -


COMBINING BALANCE SHEET JUNE 30, 2011

EDUCATIONAL WORKING CASH ACCOUNTS ACCOUNTS ELIMINATIONS TOTAL

Assets

Cash $ 7,834,532 $ 10,874,483 $ $ 18,709,015 Investments 622,993 6,740,079 7,363,072 Receivables (net allowance for uncollectibles):

Property taxes 47,615,848 47,615,848 Replacement taxes 269,655 269,655 Intergovernmental 5,232,285 5,232,285

Loan to educational accounts 10,000,000 (10,000,000) Loan to transportation fund 4,680,500 4,680,500

Total assets ~ 61,575,313 ~ 32,295,062 ~ (10,000,000) ~ 83,870,375

Liabilities and fund balance

Accounts payable $ 585,496 $ $ $ 585,496 Salaries and wages payable 82,158 82,158 Loan from working cash fund 10,000,000 (10,000,000) Deferred revenue 51,498,451 51,498,451 Health claims payable 1,495,807 1,495,807

Total liabilities 63,661,912 (10,000,000) 53,661,912

Fund balance

Unassigned (2,086,599) 32,295,062 30,208,463

Total fund balance (deficit) (2,086,599) 32,295,062 30,208,463

Total liabilities and fund balance ~ 61,575,313 ~ 32,295,062 ~ (10,000,000) ~ 83,870,375

- 60 -


COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED JUNE 30, 2011

EDUCATIONAL WORKING CASH ACCOUNTS ACCOUNTS ELIMINATIONS TOTAL

Revenues Property taxes $ 91,932,514 $ $ $ 91,932,514 Corporate personal property

replacement taxes 1,981,799 1,981,799 State aid 33,741,075 33,741,075 Federal aid 9,284,783 9,284,783 Investment income 52,179 58,237 110,416 Other 5,515,732 5,515,732

Total revenues 142,508,082 58,237 142,566,319

Expenditures Current:

Instruction: Regular programs 54,625,805 54,625,805 Special programs 20,095,376 20,095,376 Other instructional programs 10,206,593 10,206,593 State retirement contributions 20,166,574 20,166,574

Support Services: Pupils 11,012,452 11,012,452 I nstructional staff 3,808,391 3,808,391 General administration 2,036,555 2,036,555 School administration 8,223,272 8,223,272 Business 3,342,127 3,342,127 Transportation 305 305 Operations and maintenance 271,577 271,577 Central 3,664,749 3,664,749 Other supporting services 1,253,986 1,253,986

Community services 986,500 986,500 Payments to other districts and gov't units 1,198,609 1,198,609

Capital outlay 356,046 356,046

Total expenditures 141,248917 141,248,917

Excess (deficiency) of revenues over expenditures 1,259,165 58,237 1,317,402

Other financing sources (uses) Transfers in 548,850 (548,850) Transfers (out) (1,107,700) 548,850 (558,850)

Total other financing sources (uses) 548,850 (1,107,700) (558,850)

Net change in fund balance 1,808,015 (1,049,463) 758,552

Fund balance (deficit), beginning of year (3,894,614 ) 33,344,525 29,449,911

Fund balance (deficit), end of year $ (2 086,599) ~ 32,295,062 ~ ~ 30,208,463

- 61 -

COMMUNITY UNIT SCHOOL DISTRICT 200 EDUCATIONAL ACCOUNTS




Revenues

Local sources

General levy $ 91,595,000 $ 91,612,218 $ 17,218 $ 87,604,759 Special education levy 325,000 320,296 (4,704) 323,006 Corporate personal property replacement taxes 1,565,000 1,981,799 416,799 1,499,366 Regular tuition from pupils or parents (in state) 1,611,000 1,770,761 159,761 1,542,620 Summer school - tuition from pupils or parents

(in state) 100,000 211,185 111,185 234,415 Special education - tuition from pupils or

parents (in state) 6,000 6,000 Special education - tuition from other LEA's (in

state) 36,000 (36,000) Investment income 100,000 52,179 (47,821 ) 82,551 Sales to pupils - lunch 1,700,000 1,377,600 (322,400) 1,557,200 Admissions - athletic 84,000 122,356 38,356 74,871 Fees 11,085 11,085 2,315 Book store sales 400,000 519,876 119,876 349,085 Other pupil activity revenue 6,762 6,762 21,025 Contributions and donations from private

sources 2,255 2,255 Impact fees from municipal or county

governments 356,199 Refund of prior years' expenditures 200,000 309,299 109,299 22,071 Driver's education fees 100,000 117,842 17,842 69,232 Other 1,500,000 1,060,711 (439,289) 1,320,971


State sources

General state aid 5,960,000 5,958,772 (1,228) 6,191,301 Special education - private facility tuition 1,200,000 835,451 (364,549) 864,434 Special education - extraordinary 2,900,000 2,465,121 (434,879) 1,336,121 Special education - personnel 3,200,000 3,270,172 70,172 2,327,612 Special education - orphanage - individual 25,000 34,151 9,151 126,911 Special education - orphanage - summer 4,435 4,435 6,731 Special education - summer school 38,000 19,608 (18,392) 26,021 CTE - Secondary program improvement 69,510 747 (68,763) 68,252 CTE - Other 8,700 (8,700) Bilingual education - downstate - TPI 393,000 601,634 208,634 124,165 State free lunch & breakfast 50,000 54,865 4,865 21,632 School breakfast initiative 269 269 316 Driver education 70,000 96,692 26,692 72,072 Reading improvement block grant 148,630 148,630 148,631 School safety & educational improvement block

grant 56,820 56,820 56,810 Other restricted revenue from state sources 27,134 27134

Total state sources 13914210 13,574,501 (339,709) 11,371,009

- 62 -





Federal sources

Title V - Innovation and flexibility formula $ 17,500 $ $ (17,500) $ National school lunch program 1,000,000 1,091,539 91,539 1,023,020 School breakfast program 150,000 200,707 50,707 150,433 Title I - Low income 956,000 946,912 (9,088) 868,291 Title IV - Safe & drug free schools - formula 33,100 2,737 (30,363) 32,588 Federal - special education - preschool flow-

through 68,000 41,104 (26,896) 42,712 Federal - special education - IDEA - flow-

throughflow incident 2,640,000 2,256,716 (383,284) 2,075,178 Federal - special education - IDEA - room &

board 370,000 461,598 91,598 716,966 Federal - special education - IDEA -

discretionary 29,500 (29,500) 29,500 CTE - Perkins - Title IIIE - tech. prep. 1,999 1,999 1,706 CTE - Other 50,000 49,438 (562) 39,735 General state aid - education stabilization 1,022,991 IDEA - part b - preschool 71,600 71,599 (1 ) 44,062 IDEA - part b - flow-through 1,848,645 1,838,649 (9,996) 1,313,933 Mckinney - Vento homeless education 2,811 Other ARRA funds - I 339,046 Other ARRA funds - XI 590,589 590,589 Title III - English language acquisition 138,750 188,683 49,933 233,943 Title II - Teacher quality 418,700 446,365 27,665 421,996 Medicaid matching funds - administrative

outreach 600,000 484,639 (115,361) 168,209 Medicaid matching funds - fee-for-service

program 472,935 472,935 178,680 Other restricted revenue from federal sources 620,000 138,574 (481,426) 115,157

Total federal sources 9,011,795 9,284,783 272,988 8,820,957

Total revenues 122,242,005 122,341,508 99,503 115,251,652

- 63 -





Expenditures

Instruction

Regular programs Salaries $ 48,449,317 $ 48,415,711 $ 33,606 $ 51,235,900 Employee benefits 5,484,273 5,108,428 375,845 4,974,208 Purchased services 38,680 59,232 (20,552) 77,247 Supplies and materials 1,291,009 963,126 327,883 1,605,345 Capital outlay 169,870 49,641 120,229 107,107 Other objects 8,930 5,026 3,904 7,384 Non-capitalized equipment 74,282 (74,282) 77,012

Total 55,442,079 54,675446 766,633 58,084,203

Pre-K programs Salaries 197,000 243,489 (46,489) 205,151 Employee benefits 33,980 29,571 4,409 31,651 Purchased services 455 Supplies and materials 4,000 3,357 643 3,519

Total 234,980 276,417 (41,437) 240,776

Special education programs Salaries 14,457,423 14,071,678 385,745 14,628,409 Em ployee benefits 1,488,377 1,399,934 88,443 1,284,742 Purchased services 167,000 183,403 (16,403) 224,713 Supplies and materials 492,893 191,620 301,273 249,054 Capital outlay 99,000 10,065 88,935 1,012 Other objects 900 950 (50) Non-capitalized equipment 8,502 (8 502) 21,206

Total 16,705,593 15,866,152 839,441 16,409,136

Special education programs Pre-K Salaries 572,000 789,912 (217,912) 444,986 Employee benefits 11,269 65,775 (54,506) 41,725 Purchased services 100 100 45 Supplies and materials 7,000 21,282 (14,282) 5,349 Non-capitalized equipment 15,954 (15,954)

Total 590,369 892,923 (302,554) 492,105

eTE programs Salaries 1,500,411 1,535,578 (35,167) 1,540,401 Employee benefits 190,222 178,458 11,764 177,948 Purchased services 830 (830) 207 Supplies and materials 38,770 41,900 (3,130) 51,611 Other objects 400 316 84 374 Non-capitalized equipment 855 (855) 995

Total 1,729,803 1 .757,937 (28,134) 1 ,771 ,536

- 64-





Interscholastic programs Salaries $ 1,463,000 $ 1,446,425 $ 16,575 $ 1,605,543 Employee benefits 131,000 139,165 (8,165) 147,104 Purchased services 266,780 252,666 14,114 218,929 Supplies and materials 39,095 33,074 6,021 78,548 Capital outlay 5,000 1,199 3,801 2,800 Other objects 55,100 49,772 5,328 48,524 Non-capitalized equipment 7,748 (7,748) 595

Total 1,959,975 1,930,049 29,926 2,102,043

Summer school programs Salaries 306,000 355,113 (49,113) 378,418 Employee benefits 5,845 3,945 1,900 4,413 Purchased services 10,000 5,555 4,445 3,600 Supplies and materials 2,000 5,039 (3,039) 18,703 Other objects 6,206 (6,206) 2,916

Total 323,845 375,858 (52,013) 408,050

Gifted programs Salaries 1,204,000 1,129,967 74,033 1,141,142 Employee benefits 124,447 147,661 (23,214) 106,923

Total 1,328,447 1,277,628 50,819 1,248,065

Driver's education programs Salaries 311,352 318,386 (7,034) 301,677 Employee benefits 36,322 34,404 1,918 29,781 Supplies and materials 6,482 (6,482) 10,027

Total 347,674 359,272 (11,598) 341,485

Bilingual programs Salaries 3,917,047 3,712,237 204,810 3,961,142 Em ployee benefits 402,211 444,938 (42,727) 379,714 Purchased services 3,000 3,454 (454) Supplies and materials 32,690 70,002 (37,312) 63,504 Capital outlay 8,926 Non-capitalized equipment 12,308

Total 4,354,948 4,230,631 124,317 4,425,594

Truant's alternative and optional programs

Special education programs K-12 -private tuition Other objects 3,000,000 3,346,366 (346,366) 3,324,660

Total 3,000,000 3,346,366 (346,366) 3,324,660

Total instruction 86,017,713 84,988,679 1,029,034 88,847,653

- 65 -





Support services

Pupils

Attendance and social work services Salaries $ 1,919,000 $ 1,938,959 $ (19,959) $ 1,908,265 Employee benefits 193,884 192,995 889 178,235 Purchased services 3,000 2,600 400 1,055 Supplies and materials 16,500 3,103 13,397 19,335 Capital outlay 2,000 2,000 Non-capitalized equipment 1,790 (1,790) 902

Total 2,134,384 2,139,447 (5,063) 2,107,792

Guidance services Salaries 2,327,000 2,325,571 1,429 2,265,884 Employee benefits 197,249 198,822 (1,573) 186,396 Purchased services 1,000 339 661 Supplies and materials 1,765 2,068 (303) 1,441

Total 2,527,014 2,526,800 214 2,453,721

Health services Salaries 1,091,500 1,224,857 (133,357) 1,290,914 Employee benefits 131,969 117,179 14,790 117,208 Purchased services 10,600 12,951 (2,351 ) 12,499 Supplies and materials 45,720 21,868 23,852 53,033 Capital outlay 25,000 25,000 7,544 Non-capitalized equipment 1,830 (1,830) 4,157

Total 1,304,789 1,378,685 (73,896) 1,485,355

Psychological services Salaries 1,815,000 1,870,651 (55,651 ) 1,912,765 Em ployee benefits 176,772 204,574 (27,802) 168,319 Purchased services 4,000 413 3,587 3,394 Supplies and materials 27,950 24,864 3,086 20,970 Capital outlay 5,000 5,000 1,500 Non-capitalized equipment 2,785

Total 2,028,722 2,100,502 (71,780) 2,109,733

Speech pathology and audiology services Salaries 2,342,000 2,294,584 47,416 2,181,635 Employee benefits 242,452 273,732 (31,280) 226,550 Purchased services 7,500 847 6,653 5,997 Supplies and materials 17,200 10,478 6,722 15,533 Capital outlay 72,000 123,244 (51,244) 29,930 Non-capitalized equipment 33,967 (33,967) 1 825

Total 2,681 152 2,736,852 (55,700) 2,461 ,470

- 66 -





Other support services - pupils Salaries $ 20,000 $ 27,863 $ (7,863) $ 42,885 Employee benefits 1,390 (1,390) 1,420 Purchased services 142,000 112,616 29,384 157,547 Supplies and materials 123,000 103,791 19,209 109,738 Capital outlay 41,000 14,396 26,604 16,935 Other objects 8,500 190 8,310 8,567 Non-capitalized equipment 7,560 (7,560) 16,449

Total 334,500 267,806 66,694 353,541

Total pupils 11,010,561 11,150,092 (139,531 ) 10,971,612

Instructional staff

Improvement of instructional services Salaries 1,215,270 1,140,524 74,746 1,799,180 Employee benefits 210,222 262,162 (51,940) 307,000 Purchased services 193,091 175,999 17,092 133,827 Supplies and materials 106,153 35,239 70,914 64,729 Capital outlay 7,200 3,239 3,961 2,076 Other objects 13,530 953 12,577 1,700 Non-capitalized equipment 14,710 (14,710) 10,733 Termination benefits 11,390 (11,390) 15,093

Total 1,745,466 1,644216 101,250 2,334,338

Educational media services Salaries 1,633,400 1,612,739 20,661 1,658,368 Employee benefits 202,122 160,593 41,529 189,527 Supplies and materials 156,425 138,501 17,924 166,764 Capital outlay 2,298 Non-capitalized equipment 1,990 (1,990) 1,193

Total 1,991,947 1,913,823 78,124 2,018,150

Assessment and testing Salaries 24,600 5,508 19,092 3,163 Employee benefits 37 (37) 228 Purchased services 238,000 211,030 26,970 135,328 Supplies and materials 47,970 24,159 23,811 9,778 Capital outlay 18,600 18,600 Non-capitalized equipment 12,857 (12,857)

Total 329,170 253,591 75,579 148,497

Total instructional staff 4,066,583 3,811,630 254,953 4,500,985

- 67 -






Board of education services Salaries $ 113,000 $ 112,752 $ 248 $ 102,560 Employee benefits 17,294 11,370 5,924 27,041 Purchased services 139,200 140,300 (1,100) 84,934 Supplies and materials 10,650 15,732 (5,082) 24,735 Capital outlay 2,000 2,000 Other objects 35,000 19,003 15,997 39,259 Non-capitalized equipment 7,880 (7,880) Termination benefits 3,395

Total 317,144 307,037 10,107 281,924

Executive administration services Salaries 307,000 309,382 (2,382) 380,358 Em ployee benefits 90,500 81,835 8,665 70,537 Purchased services 16,100 14,176 1,924 13,571 Supplies and materials 2,700 1,679 1,021 2,530 Capital outlay 1,000 1,000 Other objects 5,000 5,092 (92) 2,721 Non-capitalized equipment 1,100 (1,100) 349

Total 422,300 413,264 9,036 470,066

Special area administration services Salaries 1,072,300 1,034,568 37,732 1,077,682 Employee benefits 285,000 235,151 49,849 255,401 Purchased services 25,000 20,487 4,513 6,284 Supplies and materials 10,000 12,465 (2,465) 10,489 Capital outlay 27,365 26,389 976 Non-capitalized equipment 13,583 (13,583) 895 Termination benefits 43,500 43,500 45,037

Total 1,463165 1,342,643 120,522 1,395,788

Tort immunity services Purchased services 235,267

Total 235,267

Total general administration 2,202,609 2,062,944 139,665 2,383,045

- 68 -






Office of the principal services Salaries $ 6,673,105 $ 6,747,749 $ (74,644) $ 7,119,382 Employee benefits 902,650 1,253,799 (351,149) 1,245,764 Purchased services 82,250 54,287 27,963 81,588 Supplies and materials 45,500 44,762 738 55,067 Capital outlay 13,365 9,918 3,447 1,199 Other objects 5,700 5,055 645 4,560 Non-capitalized equipment 1,929 (1,929) 18,168 Termination benefits 54,500 115,691 (61,191) 41,387

Total 7,777,070 8,233,190 (456,120) 8,567,115

Other support services - school administration Purchased services 1,644

Total 1,644

Total school administration 7,777,070 8,233,190 (456,120) 8,568,759

Business

Direction of business support services Salaries 469,000 466,852 2,148 435,229 Employee benefits 77,000 79,489 (2,489) 75,793 Purchased services 72,300 56,659 15,641 61,710 Supplies and materials 25,000 25,283 (283) 15,093 Capital outlay 5,000 5,000 Other objects 2,540 1,960 580 Termination benefits 2,066 (2,066)

Total 650840 632,309 18,531 587,825

Fiscal services Salaries 95,000 95,091 (91 ) 95,091 Employee benefits 29,000 29,068 (68) 28,644 Supplies and materials 25,000 7,603 17,397 5,273 Other objects 20,700 (20,700) 6,175

Total 149,000 152,462 (3,462) 135,183

Operation and maintenance of plant services Em ployee benefits 1,873 (1,873) 1,847 Purchased services 269,130 269,704 (574) 272,109 Supplies and materials 1,487 Capital outlay 32,577

Total 269,130 271,577 (2,447) 308,020

- 69 -





Pupil transportation services Employee benefits $ $ 75 $ (75) $ 83 Purchased services 230 (230)

Total 305 (305) 83

Food services Salaries 225,000 126,620 98,380 220,275 Em ployee benefits 2,866 (2,866) 6,010 Purchased services 2,400,000 2,273,584 126,416 2,515,333 Supplies and materials 29,600 123,892 (94,292) 100,078 Capital outlay 75,000 75,000 Non-capitalized equipment 23,477

Total 2,729,600 2,526,962 202,638 2,865,173

Internal services Salaries 117 Purchased services 3,046 (3,046) 4,240 Supplies and materials 21,000 27,348 (6,348) 32,067

Total 21,000 30,394 (9,394 ) 36,424

Total business 3,819,570 3,614,009 205,561 3,932,708

Central

Planning, research, development and evaluation services Salaries 51,500 50,726 774 50,726 Em ployee benefits 8,546 13,057 (4,511) 13,276

Total 60,046 63,783 (3,737) 64,002

Information services Salaries 201,000 229,476 (28,476) 202,790 Em ployee benefits 45,457 58,870 (13,413) 77,949 Purchased services 305,500 277,373 28,127 315,387 Supplies and materials 2,500 3,884 (1,384) 2,715 Capital outlay 5,000 5,000 4,914 Other objects 500 1,030 (530) 375 Non-capitalized equipment 1,561 (1,561)

Total 559,957 572,194 (12,237) 604,130

- 70 -





Staff services Salaries $ 621,500 $ 624,313 $ (2,813) $ 607,120 Employee benefits 78,203 123,236 (45,033) 108,567 Purchased services 46,300 35,601 10,699 29,157 Supplies and materials 6,750 6,085 665 6,329 Capital outlay 2,400 5,015 (2,615) Other objects 3,000 2,036 964 2,313 Non-capitalized equipment 7,119

Total 758,153 796,286 (38,133) 760,605

Data processing services Salaries 910,000 847,300 62,700 828,239 Em ployee benefits 93,234 103,468 (10,234) 90,698 Purchased services 292,390 449,421 (157,031 ) 297,860 Supplies and materials 197,800 220,238 (22,438) 225,499 Capital outlay 607,000 105,689 501,311 5,683 Non-capitalized equipment 607,493 (607,493) 725,151 Termination benefits 2,000 9,581 (7,581 )

Total 2,102,424 2,343,190 (240,766) 2,173,130

Total central 3,480,580 3,775,453 (294,873) 3,601,867

Other supporting services Employee benefits 105,000 105,000 Purchased services 1,364,000 1,253,986 110,014 1,212,565 Supplies and materials 5,000 5,000

Total 1,474,000 1,253,986 220,014 1,212,565

Total support services 33,830,973 33,901,304 (70,331 ) 35,171,541

Community services

Salaries 565,275 660,080 (94,805) 670,196 Employee benefits 62,000 70,340 (8,340) 61,322 Purchased services 85,179 65,132 20,047 78,959 Supplies and materials 129,460 155,408 (25,948) 164,003 Capital outlay 5,200 7,251 (2,051 ) 6,050 Other objects 900 950 (50) 950 Non-capitalized equipment 34,590 (34,590) 25,258

Total community services 848,014 993,751 (145,737) 1,006,738

Payments to other districts and governmental units

Payments for regular programs Other objects 13,000 2,247 10,753 1,335

Total 13,000 2,247 10,753 1,335

- 71 -





Other payments to in-state governmental units Other objects $ ~ 9,510 ~ (9,510) ~

Total 9,510 (9,510)

Payments for special education programs - tuition Other objects 700,000 545,098 154,902 745,683

Total 700,000 545,098 154,902 745,683

Payments for eTE programs - tuition Other objects 832,000 618,024 213,976 811,237

Total 832,000 618,024 213,976 811,237

Payments for regular programs -transfers Other objects 23,730 (23,730)

Total 23,730 (23,730)

Total payments to other districts and governmental units 1,545,000 1,198,609 346,391 1,558,255


Excess (deficiency) of revenues over expenditures 305 1,259,165 1,258,860 (11,332,535)


Permanent transfer from working cash fund -abolishment 548,850 548,850 8,000,000

Total other financing sources (uses) 548,850 548,850 8,000,000

Net change in fund balance $ 305 1,808,015 ~ 1,807,710 (3,332,535)

Fund balance (deficit), beginning of year (3,894,614) (562,079)

Fund balance (deficit), end of year ~ (2,086,599) ~ (3,894,614)

- 72 -

COMMUNITY UNIT SCHOOL DISTRICT 200 WORKING CASH ACCOUNTS




Revenues

Local sources

Investment income li 100,000 li 58,237 li (41 763) li 25,130

Total local sources 100,000 58,237 (41,763) 25,130

Total revenues 100,000 58,237 (41,763) 25,130

Expenditures

Total expenditures

Excess (deficiency) of revenues over expenditures 100,000 58,237 (41,763) 25,130


Permanent transfer from working cash fund -abolishment (1,107,700) (1,107,700) (8,000,000)

Total other financing sources (uses) (1,107,700) (1,107,700) (8,000,000)

Net change in fund balance li 100,000 (1,049,463) li (1,149,463) (7,974,870)

Fund balance, beginning of year 33,344,525 41,319,395

Fund balance, end of year li 32,295,062 li 33,344,525

- 73 -

COMMUNITY UNIT SCHOOL DISTRICT 200 AGENCY FUNDS - STUDENT ACTIVITY FUNDS

SCHEDULE OF CHANGES IN ASSETS AND LIABILITIES FOR THE YEAR ENDED JUNE 30, 2011

BALANCE BALANCE JUNE 30, JUNE 30,

2010 ADDITIONS REDUCTIONS 2011

Edison Middle School $ 46,852 $ 104,126 $ 111,351 $ 39,627

Franklin Middle School 39,334 83,699 78,495 44,538

Hubble Middle School 91,435 130,042 122,301 99,176

Monroe Middle School 65,309 209,687 201,571 73,425

Wheaton-Warrenville South High School 612,360 1,952,022 1,969,695 594,687

Wheaton North High School 430,092 1,546,801 1,701,501 275,392

Total all schools $ 1,285,382 $ 4,026,377 $ 4,18.4,914 $ 1,126,845

- 74 -

COMMUNITY UNIT SCHOOL DISTRICT 200 FIVE YEAR SUMMARY OF ASSESSED VALUATIONS,

TAX RATES, EXTENSIONS AND COLLECTIONS JUNE 30, 2011

2006 2007 2008 2009 2010

Assessed valuation

Winfield township $ 389,428,297 $ 411,806,713 $ 436,974,197 $ 434,518,074 $ 438,787,780 Milton township 2,444,182,033 2,646,059,714 2,780,680,168 2,785,800,813 2,692,807,789 Naperville township 12,549,141 14,305,906 15,258,500 15,434,518 56,308,823

Total $ 2,846,159,471 $ 3,072,172,333 $ 3,_23?,~12,865 $ 3,235,753,405 $ 3,187,904,392

Tax rates

Educational 2.8300 2.7000 2.7000 2.7245 3.0000 Liability insurance 0.0000 0.0000 0.0000 0.0000 0.0000 Special education 0.0100 0.0100 0.0100 0.0100 0.0100 Operations and

maintenance 0.3800 0.3700 0.3605 0.3602 0.3367 Bond and interest 0.4429 0.4311 0.4313 0.4550 0.4919 Transportation 0.1000 0.0963 0.1000 0.1000 0.1051 IMRF 0.0577 0.0600 0.0600 0.0600 0.0500 Social security 0.0577 0.0600 0.0600 0.0600 0.0500

Total 3.8783 3.7274 3.7218 3.7697 4.0437 -

Tax extension

Educational $ 80,546,313 $ 82,948,653 $ 87,288,647 $ 88,158,102 $ 95,637,132 Liability insurance Special education 284,616 307,217 323,291 323,575 318,790 Operations and

maintenance 10,815,406 11,367,038 11,654,651 11,655,184 10,733,674 Bond and interest 12,605,640 13,244,135 13,943,553 14,722,678 15,681,302 Transportation 2,846,159 2,958,502 3,232,913 3,235,753 3,350,488 IMRF 1,642,234 1,843,303 1,939,748 1,941,452 1,593,952 Social security 1,642,234 1,843,303 1,939,748 1 ,941 ,452 1 ,593,952

Total $ 110,382,602 $ 114,512,151 $ 120,322,551 $ 121,978,196 $ 128,909,290

Amounts collected as of June 30, 2011 $ 110,277,219 $ -1Yl,105,895 $ 120,164,389 $ 121,510,471 $ 63,652,024

Percentage collected 99.90% 99.65% 99.87% 99.62% 49.38% ,,---=---=-..;;--~

- 75 -

COMMUNITY UNIT SCHOOL DISTRICT 200 OPERATING COST AND TUITION CHARGE

JUNE 30, 2011

Operating Cost Per Pupil

Average Daily Attendance (ADA):

Operating Costs: Educational Operations and Maintenance Debt Service Transportation Municipal Retirement/Social Security

Subtotal

Less Revenues/Expenditures of Nonregular Programs: Tuition Pre-K programs Special education transportation Summer school Capital outlay Non-capitalized equipment Debt principal retired Community services Payments to other districts & governmental units

Subtotal

Operating costs

Operating Cost Per Pupil -Based on ADA

Tuition Charge

Operating Costs Less - revenues from specific programs, such

as special education or lunch programs

Net operating costs

Depreciation allowance

Allowable Tuition Costs

Tuition Charge Per Pupil - based on ADA

- 76 -

2011

12,464

$ 121,082,343 11,012,270 14,854,990 7,652,969 3,390,171

157,992,743

3,346,366 1,202,473

124,582 393,573 603,194 894,272

5,485,000 1,039,906 1,198,609

14,287,975

$ 143,704,768

$ 11,529

$ 143,704,768

22,608,420

121,096,348

7,017,314

$ 128,113,662

$ 10,278

2010

~,~~l2,459

$ 126,584,187 11,024,992 14,064,606

7,578,341 3,419,832

162,671,958

3,324,660 742,847

66,791 424,772 316,985 983,040

4,785,000 1,077,597 1,558,255

13,279,947

$ 149,392,011

$ 11,990

$ 149,392,011

18,259,072

131,132,939

6,775,739

$ 137,908,678

$ 11,069

COMMUNITY UNIT SCHOOL DISTRICT 200

MATURING TOTAL DURING DEBT

YEAR ENDING SERVICE INTEREST JUNE 30, REQUIREMENT PAYABLE

2012 $ 15,524,200 $ 9,139,200 2013 16,317,070 8,862,070 2014 17,146,989 8,536,989 2015 17,977,309 8,162,309 2016 18,943,169 7,703,169 2017 19,908,016 7,163,016 2018 20,884,903 6,554,903 2019 21,882,498 5,882,498 2020 23,166,333 5,111,333 2021 24,037,108 4,232,108 2022 25,348,366 3,253,366 2023 22,729,250 2,229,250 2024 29,184,000 984,000 2025 5,121,875 121 875

TOTAL $ 278,171,086 $ 77,936,086

Balance outstanding at June 30, 2010 Issued during the year ended June 30, 2011 Retired during the year ended June 30, 2011 Defeased during the year ended, June 30, 2011

Balance outstanding at June 30, 2011

Interest paid during the year ended June 30, 2011

Interest rate

Payment dates: Principal Interest

Purpose of issue

Original amount of issue

BONDS PAYABLE BY YEAR OF PAYMENT JUNE 30, 2011

TOTAL PRINCIPAL FEBRUARY 12, FEBRUARY 12, PAYABLE 2002 A 2002 B

$ 6,385,000 $ 1,000,000 $ 7,455,000 1,180,000 8,610,000 9,815,000

11,240,000 12,745,000 14,330,000 16,000,000 18,055,000 19,805,000 22,095,000 20,500,000 28,200,000

5,000,000

UQQ,Z~,5,QO£ L_~l§Q,OOO L,~,~_

$ 205,720,000 $ 3,630,000 $ 335,000

5,485,000 1,450,000 335,000

~ 202,235,000 ~ __ 2" 180,002, L"" __ ",_"",,

$ 9,3~5,690 L~,,:!j,1§2§, L,_"".L&E

4.50 to 5.00% 2.00 to 4.50%

December 1 December 1 June 1 and June 1 and December 1 December 1

Refunding Building

$ 7,070,000 $ 11,000,000

NOTE A, The principal amount of bonds outstanding for unit school districts in the State of Illinois is limited to 13.8"/0 of the District's assessed valuation. Bonds outstanding at June 30, 2011, aggregated 6.13% of the 2010 assessed valuation of $3,187,904,392. Based upon the 2010 assessed valuation, unused bonding power at June 30, 2011, was $239,695,806.

,77 '

MAY 15, MAY 15, OCTOBER 14, 2003 A 2003 B 2003 C

$ $ 50,000 $ 395,000 465,000

500,000 50,000 535,000 600,000 520,000 400,000 265,000 470,000

675,000 530,000 770,000 455,000 865,000 390,000

1,345,000 630,000 1,540,000 515,000 1,635,000 525,000 1,155,000 1,505,000

900,000

$ 1,500,000 $ 8,350,000 !"""I&~§&Q9,

$ 1,500,000 $ 8,370,000 $ 8,295,000

20,000 460,000

~"JJ5"Q.~Q92 L~350,000 L-L§35,Q,QQ

t"",J'O,OOO L.1}O,138 $ 400,552,

2.00 to 4.50% 3.00 to 5.25% 2.00 to 5.25%

November 1 December 1 October 1 May 1 and June 1 and April 1 and November 1 December 1 October 1

Refunding Refunding Building and Building

$ 1,715,Q92 .1. 50,16§"Q.QQ t 28,730,000

(Continued)

COMMUNITY UNIT SCHOOL DISTRICT 200 BONDS PAYABLE BY YEAR OF PAYMENT

JUNE 30, 2010

OCTOBER 14, SEPTEMBER 1, SEPTEMBER 1, SEPTEMBER 1, 2003 0 2004 A 2004 B 2004 C

$

s

$ 825,000 $ 100,000

1,325,000 1,325,000 1,600,000

1,625,000 $ 1,500,000

$ 6,225,000 $ 4,290,000 $

1,050,000 1,165,000

~ ",,~§,!22,002. $ 3,125,000 ,,"$ ___ ~

_$ ___ ~_~~ L,~~,,322&Q£ ~_, 148,300 "-$ ___ _

2.00 to 3.00% 2.00 to 5.00'% 3.00 to 4.00% 4.00%

October 1 October 1 October 1 October 1 ~1_ ~1_ ~11a~ ~1~ October 1 October 1 October 1 October 1

Refunding and Building

Refunding

~~~~2,2,§§S,&£~ $ 17,665,000

Refunding and Working Cash Working Cash

L~85,000 p',_1:h§2,Q,29~~

$

APRIL 1, 2005

1,765,000 1,060,000 1,300,000 2,450,000 2,565,000 1,690,000 1,685,000

FEBRUARY 1, MARCH 31,

s 2006 2008 A

330,000 $ 345,000 355,000

1,195,000 1,130,000 1,230,000 1,125,000 4,640,000 7,005,000 7,565,000 7,905,000 6,625,000

815,000 4,405,000 6,490,000 5,410,000 5,250,000 7,245,000

12,030,000

$

MARCH 31, 2008 B

510,000 $ 1,255,000 2,860,000 2,985,000

MAY 1, 2009A

2,225,000 2,745,000 2,875,000

895,000

$ 12,515,000 $ 39,765,000 $ 41,645,000 $ 7,610,000 $ 8,740,000

315,000

"-$_-,6",2,,,5,,750 1 1,660,083 L..,1,893,188 $ 320,27(5, 1 __ 400,498

5.00%

November 1 May 1 and November 1

Refunding

4.00 to 4.25'''/0 3.75 to 5.00% 3.75 to 5.00% 4.15 to 5.00%

November 1 October 1 October 1 October 1 May 1 and April 1 and April 1 and April 1 and November 1 October 1 October 1 October 1

Refunding Refunding and Building

Refunding and Building

Refunding and Working Cash

§",~12,285,000 $ 41,665,000 LD,?,,~2,(l(lg t,g,(l§2,QQ2, 1,~~,92,2,

"78,, (Continued)

MAY 1, MAY 1, MAY 1, MAY 1, 2009B 2009C 20090 2009E

$ $ 1,010,000 $ $ 640,000 845,000

1,925,000 1,890,000

1,885,000 595,000 925,000

2,115,000 3,050,000 775,000

2,940,000

11,215,000 27,300,000

5,000,000

$ 5,165,000. ~30,000 $ 43,515,000 $ 5,300,000

$ 5,165,000 $ 8,130,000 $ 43,515,000 $ 5,990,000

690,000

§",,!,!§,§,2,QQ L,,1l~,~Q,9,o.£ t~,~l§,&O,o. L,,?,~Q9,bQQ9.

L.".,.~.~ .. r,,1.9.9, §,~".1ZZ,~.§?, §~k26§,~~, L",,1!!,1!l.9,9.

4.00 to 5.00% 2.90 to 5.45% 4.87 to 5.25% 2.00 to 3.25%

October 1 October 1 October 1 October 1 April 1 and April 1 and April 1 and April 1 and October 1 October 1 October 1 October 1

Refunding and Refunding Refunding and Working Cash Working Cash Working Cash

,L,.,.~"l~ $ 8,130,000. $ 43,515,000 L~,§,OOo.

, 79 ' (Concluded)

COMMUNITY UNIT SCHOOL DISTRICT 200 PRESENTATION OF FUNDS ON A TAX LEVY YEAR BASIS

FOR THE YEAR ENDED JUNE 30, 2011

(-) (+) JULY1,2010 FY 10 JULY 1, 2010 2010-2011

FUND AUDIT BALANCE EARLY TAXES BALANCE REVENUES

General $ 29,449,911 $ 43,798,431 $ (14,348,520) $ 138,866,570

Operations and Maintenance 554,440 5,769,316 (5,214,876) 11,888,018

Debt Service 9,552,351 7,287,726 2,264,625 14,710,158

Transportation (2,931,275) 1,601,698 (4,532,973) 7,492,026

IMRF 1,014,817 1,922,036 (907,219) 4,081,817

Capital Projects 889,933 889,933 765

Totals $ 38,530,177 $ 59,559,663 $ 369,296 $ 177,039,354 .. . .. - --_._-- .

- 80 -

Tax Lev~ Year Basis (-) NET OTHER (+) JUNE 30, 2011

2010-2011 FINANCING JUNE 30, 2011 FY 11 AUDIT EXPENDITURES SOURCES/(USES) BALANCE EARLY TAXES BALANCE

$ 141,248,917 $ (558,850) $ (17,289,717) $ 47,498,180 $ 30,208,463

11,012,270 247,608 (4,091,520) 5,313,169 1,221,649

14,854,990 2,119,793 7,762,244 9,882,037

7,652,969 (4,693,916) 1,658,492 (3,035,424 )

3,390,171 (215,573) 1,578,014 1,362,441

160,103 311,242 1,041,837 1,041,837

$ 178,319,420 $ $ (23, 12~,~~_6) $ 63,810,099 $ 40,~81 ,003

- 81 -

COMMUNITY UNIT SCHOOL DISTRICT 200 GENERAL AND SPECIAL REVENUE FUNDS REVENUES BY SOURCE

LAST TEN FISCAL YEARS

2002 2003 2004

Local sources: Property taxes $ 79,519,241 $ 81 ,057,992 $ 85,269,345 Replacement taxes 1,266,360 1,173,816 1,334,088 Tuition 289,800 340,503 331,924 Interest on investments 981,884 651 ,021 277,863 Other local revenue 4,031 ,460 6,576,294 5,680,880

Total local sources 85,441,991 89,799,626 92,894,100

State sources: General state aid 9,986,492 8,118,564 8,528,244 Other state aid 10,457,082 10,281 ,360 11 ,751 ,727

Total state sources 20,443,574 18,399,924 20,279,971

Federal sources: Restricted grants 4,409,128 6,547,180 5,704,498

Total federal sources 4,409,128 6,547,180 5,704,498

Total revenues $ 110,294,693 $ 114,746,730 $ 118,878,569

Note: Excludes On-behalf payments.

160

140

120

100

80

60

40

20

o

I Revenues by Source - Last Ten Fiscal Years I

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

_ Local Sources _ State Sources DFederal Sources

SOURCE OF INFORMATION: 2002-2011 financial statements

- 82 -

2005

$ 87,739,587 1,614,325

310,733 576,593

6,328,997

96,570,235

9,065,108 11 ,250,263

20,315,371

5,163,186

5,163,186

$ 122,048,792

$

$

2006 2007 2008

90,041,316 $ 95,561,723 $ 99,019,624 2,046,091 2,232,313 2,387,176

224,192 1,868,120 1,826,644 1,290,539 1,933,685 1,634,383 5,850,483 4,534,469 4,320,830

99,452,621 106,130,310 109,188,657

9,341,206 9,068,319 9,636,410 12,119,620 12,340,992 13,544,472

21,460,826 21 ,409,311 23,180,882

6,697,573 5,955,083 6,357,884

6,697,573 5,955,083 6,357,884

127,611,020 $ 133,494,704 $ 138,727,423

Composition of Revenues 2002

State Sources 18.5%

Federal Sources

Sources 77.5%

$

$

2009 2010 2011

103,438,681 $ 106,673,435 $ 109,910,166 2,088,229 1,689,362 2,190,795 1,839,884 1,777,035 1,987,946

751,598 129,701 111,257 4,634,886 4,531,904 3,924,304

112,753,278 114,801 ,437 118,124,468

7,028,450 6,191,301 6,558,772 13,989,069 8,643,002 11,150,208

21,017,519 14,834,303 17,708,980

8,799,625 8,820,957 9,284,783

8,799,625 8,820,957 9,284,783

142,570,422 $ 138,456,697 $ 145,118,231

Composition of Revenues 2011

- 83 -

State Sources 12.2%

Federal Sources

Local Sources 81.4%

COMMUNITY UNIT SCHOOL DISTRICT 200 EXPENDITURES BY OBJECT - EDUCATIONAL, OPERATIONS & MAINTENANCE, TRANSPORTATION

AND IMRF FUNDS LAST TEN FISCAL YEARS

Educational and Operations & Maintenance Funds Salaries and employee benefits Purchased services and supplies Tuition All other expenditures

Total

Transportation and IMRF funds Salaries and employee benefits Purchased services and supplies All other expenditures

Total

Total expenditures

Note: Excludes On-behalf payments

2002

$ 83,444,953 12,538,170

3,345,389 14,904,438

114,232,950

2,506,987 6,557,464

100,145

9,164,596

$ 123,397,546

2003

$ 88,333,643 15,694,532

3,789,545 7,140,871

114,958,591

2,539,598 6,220,686

77,841

8,838,125

$ 123,796,716

I Expenditures by Object - Last Ten Fiscal Years I

(/)

c .Q

::2:

160

140

120

100

80

60

40

20

o

1..-1----

2002 2003 2004 2005 2006 2007 2008 2009

. Salaries & Benefits • Services & Supplies OTuition _All Other

SOURCE OF INFORMATION: 2002-2011 Financial Statements

- 84-

2004

$ 90,231,404 15,623,288 4,273,808 2,174,372

112,302,872

2,782,888 6,486,685

91,479

9,361 ,052

$ 121,663,924

2005 2006 2007

$ 91,922,616 $ 95,244,980 $ 102,346,950 16,104,493 17,012,383 16,802,127 4,367,321 4,505,840 4,811,291 2,207,228 1,349,568 2,358,410

114,601,658 118,112,771 126,318,778

2,961,824 3,112,108 3,300,037 6,642,715 6,579,119 6,860,841

271,894 425,461 448,303

9,876,433 10,116,688 10,609,181

$ 124,478,091 $ 128,229,459 $ 136,927,959

Composition of Expenditures 2002

Services & Supplies 11.

Tuition

All Other 13.0%

Salaries & Benefits 73.0%

2008 2009 2010

$ 106,800,046 $ 113,559,473 $ 114,029,167 16,864,796 19,067,184 17,369,075 5,154,253 5,062,367 4,890,334 1,508,131 1,342,529 1,320,603

130,327,226 139,031,553 137,609,179

3,414,106 3,508,209 3,537,810 7,290,309 7,423,677 7,214,015

769,761 141,470 246,348

11,474,176 11,073,356 10,998,173

$ 141,801,402 $ 150,104,909 $ 148,607,352

Composition of Expenditures 2011

- 85-

Services & Supplies

17.6%

Tuition All Other

1.0%

Salaries & Benefits 78.0%

2011

$ 109,640,331 15,708,670 4,691,197 2,054,415

132,094,613

3,508,155 7,199,279

335,706

11,043,140

$ 143,137,753

community unit school district 200 · in our opinion, the financial statements referred to above...

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