GASB 44 – CAFR Statistical Section

Table Completion Comments

Financial Trends Information

Schedule of Net Assets

This schedule is a summary of the district’s net assets for the last 10 fiscal years. Information can be obtained from the Statement of Net Assets in the financial statements for each of the fiscal years. While the requirement is the inclusion of the last 10 fiscal years, the district will only be able to present from the year of the implementation of GASB 34. The Net Assets must be presented in the three different line items noted in the templates and in the aggregate.

Schedule of Changes in Net Assets

This schedule is a summary of the changes in net assets for the last 10 fiscal years. Information can be obtained from the Statement of Activities in the financial statements for each of the fiscal years. While the requirement is the inclusion of the last 10 fiscal years, the district will only be able to present from the year of the implementation of GASB 34.

Schedule of Fund Balances, Governmental Funds

This schedule is a summary of the governmental funds fund balances for the last 10 fiscal years. Information can be obtained from the Governmental Funds Balance Sheet in the financial statements for each of the fiscal years. The General Fund is broken down into reserved and unreserved portions of fund balance. The remaining Governmental Funds are grouped together but split out reserved and unreserved. Any unreserved portion is presented by each fund type. Also, if the district converted from modified cash to the modified accrual basis of accounting during the 10 years presented, the year of conversion should be noted.

Schedule of Changes in Fund Balances

This schedule is required to show three items: the net change in fund balance over the last ten fiscal years, provide the debt service as a percentage of noncapital expenditures ratio, and debt service must be broken out into principal and interest. The schedule also shows revenues by source and expenses by function. The template presents this information on two separate schedules, but could be combined into one statement if desired. This information can be obtained from the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances in the financial statements for each of the fiscal years. Also, if the district converted from modified cash to the modified accrual basis of accounting during the 10 years presented, the year of conversion should be noted.

Revenue Capacity Information

Schedule of Equalized Assessed Valuation & Estimated Actual Valuation

This schedule presents real estate classes by type for the last 10 levy years. Common types are presented in the template, including residential, commercial, etc. Provides equalized assessed valuation, estimated actual valuation and the percent total for each fiscal year in total and by class. The estimated actual valuation is often approximately three times the equalized assessed valuation. This information is usually obtained from the office of thecounty clerk.

Schedule for Property Tax Rates – All Direct & Overlapping Governments

This schedule presents various property tax rates for the last 10 levy years. The total direct rate of the district needs to be presented with a listing of the property tax rates for any overlapping governments. A total for both the district’s direct rate and all overlapping rates needs to be presented. This information is usually obtained from the office of the county clerk.

List of Principal Taxpayers

This schedule lists the largest taxpayers in the district. The GASB requires the ten largest be listed, unless less than ten are needed to reach 50% of the district’s equalized assessed valuation. This information is to be presented for the current levy year and the levy year nine years prior. This information can usually be obtained from the office of the county clerk or the county or township assessor.

Schedule of Levies and Collections

This schedule presents tax rates and levies extended by purpose for the last ten levy years. The GASB requires that the levy collections be presented as current year collections and subsequent collections and then totaled. The schedule also includes a row for percentage of the extension collected. This information can usually be obtained from the office of the county clerk.

Debt Capacity Information

Ratio of Outstanding Debt by Type

This schedule presents any outstanding debt type for each of the last ten fiscal years. The district is also required to present an outstanding debt ratio calculated by dividing the total outstanding debt by total personal income. If total personal income in not available, an other relevant measurement can be used, as is presented on the template. Also, a per capital ratio should be presented.

Ratio of Net General Bonded Debt to Estimated Actual Valuation and Net General Bonded Debt per Capita

This schedule is required to have two ratios, net general bonded debt compared to the estimated actual valuation and net general bonded debt per capita. Net general bonded debt consists of general bonded debt reduced by accumulated resources restricted for repaying the principal of the outstanding general bonded debt.

Computation of Direct and Overlapping Bonded Debt

This schedule gives the overlapping debt for each overlapping governments of the district. The total direct bonded debt for the district and a total amount that includes all direct and overlapping debt of the district needs to be shown. The overlapping percentage must also be presented. The district needs to include an explanation of the methodology and denominator employed to determine the percentage of overlap for each type of debt. This information can often be obtained from the office of the county clerk.

Legal Debt Margin Information

This schedule presents the legal debt margin and total net debt applicable to the limit as a percentage of the debt limit for the last ten fiscal years. It must also include a calculation of the legal debt margin for the current year. The legal debt margin for most Illinois school districts is 6.9% for elementary and high school districts and 13.8% for unit districts.

Demographic & Economic Information

List of Principal Employers

This schedule presents the ten largest employers, including the number of employees located inside the district boundaries. This is to be shown for both the current year and nine years ago.

Demographic and Economic Statistics

The information is to be presented for the last ten years and include population, income per capita, personal income for the district and the unemployment rate. This information can be obtained from various sources, including the US Census Bureau.

Operating Information

Number of Employees by Function

For the current fiscal year, the district is required to present the number of employees by each function. Also, for the last ten fiscal years, the number of employees needs to be presented by three main categories – administration, teachers, and other supporting staff – broken down into even further detail.

Operating Indicators by Function

This schedule shows various operating indicators of the district by function. The indicators can be changed to whatever best fits/describes the district’s activities.

SchoolBuilding Information

The inclusion of this schedule fulfills the capital asset requirements for the Operating Information section. This schedule would provide the square footage, capacity (students) and enrollment for each school building in the district over the last ten fiscal years.

Miscellaneous Statistics (not required)

This schedule is not a required part of the statistical section, but provides readers useful information.