crystal lake community consolidated school district …€¦ · kevin werner, chief financial...

COMPREHENSIVE ANNUAL FINANCIAL

REPORT

OF

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT

N0.47

CRYSTAL LAKE, IL

As of and for the Year Ended June 30, 2013

Official Issuing Report

Kevin Werner, Chief Financial Officer

Department Issuing Report

Business Services

THIS PAGE IS INTENTIONALLY LEFT BLANK

CRYSTAL LAKE COMMUN ITY CONSOLIDATED SCHOOL DISTRICT NO. 47 TABLE OF CONTENTS

Introductory Section

Transmittal Letter ASBO Certificate Organizational Chart

AS OF AND FOR THE YEAR ENDED JUNE 30, 201 3

Principal Officers and Advisors

Financial Section

Independent Auditors' Report

Required Supplementary Information

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

Basic Financial Statements

Government-Wide Financial Statements

Statement ofNet Position

Statement of Activities

Fund Financial Statements

Balance Sheet - Governmental Funds

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

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


Illinois Municipal Retirement FundSchedule of Employer's Contributions and Analysis of Funding Progress

Schedule of Funding Progress For Post Employment Healthcare Benefits

1- Vl

Vll

vm lX

1 - 3

4 - 1 1

12

13

14 - 1 5

1 6

1 7 - 1 8

19

20

2 1 - 39

40

41

C RYSTAL LAKE COM MUN ITY CONSOLIDATED SCHOOL DISTRICT NO. 47 TABLE OF CONTENTS


Required Supplementary Information- (Continued)

General and Major Special Revenue Funds - Schedule 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 Revenues. Expenditures and Changes in Fund Balances - Budget to Actual

42 - 50

5 1 - 52

53 - 54

55 - 56

57

Debt Service Fund 58

Capital Projects Fund 59

Fire Prevention and Life Safety Fund 60

General Fund - Combining Balance Sheet 61

General Fund - Combining Schedule of Revenues, Expenditures and Changes in Fund Balances 62

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

Educational Accounts - Non-GAAP Budgetary Basis

Tort Immunity and Judgment Accounts

Working Cash Accounts

Developers' Impact Accounts

Schedule of Changes in Assets and Liabilities - Agency Funds

Statistical Section

Net Position by Component - Last Ten Years

Expenses, Program Revenues, and Net (Expense) Revenue - Last Ten Fiscal Years

Fund Balances, Governmental Funds - Last Ten Fiscal Years

Governmental Funds Revenues - Last Ten Fiscal Years

Governmental Funds Expenditures and Debt Service Ratio - Last Ten Fiscal Years

Other Financing Sources and Uses and Net Change in Fund Balances - Governmental Funds - Last Ten Fiscal Years

Assessed Value and Actual Value of Taxable Property - Last Ten Fiscal Years

Direct and Overlapping Property Tax Rates - Last Ten Fiscal Years

63 - 71

72

73

74

75 - 76

77

78

79

80

8 1

82

83 - 84

85

CRYSTAL LAKE COMMUN ITY CONSOLIDATED SCHOOL DISTRICT NO. 47 TABLE OF CONTENTS


Statistical Section- (Continued)

Principal Property Taxpayers - Current Year and Nine Years Ago

Property Tax Levies and Collections - Last Ten Fiscal Years

Outstanding Debt by Type - Last Ten Fiscal Years

Ratios of General Bonded Debt Outstanding

Direct and Overlapping Government Activities Debt - As of June 30, 2010

Legal Debt Margin Information - Last Ten Fiscal Years

Demographic and Economic Statistics - Last Ten Calendar Years

Principal Employers - Current Year and Nine Years Ago

Full Time Equivalent District Employees by Type - Last Ten Fiscal Years

Operating Statistics - Last Ten Fiscal Years

Capital Assets Information - Last Ten Fiscal Years

86

87

88 - 89

90

91

92

93

94

95

96

97 - 98

CRYSTAL LAKE ELEMENTARY SCHOOLS 300 Commerce Dr., Crysta I Lake, Illinois 60014 (815) 459-6070

http://www.d47schools.org

Citizens of School District 4 7, President, and Members of the Board ofEducation Crystal Lake Community Consolidated School District No. 4 7 Crystal Lake, IL

November 5, 2013

We are pleased to submit the Comprehensive Annual Financial Report of Crystal Lake Community Consolidated School District No. 47, Crystal Lake, lllinois, (District) for the fiscal year ended June 30, 2013. The audit was completed and the Independent Auditor's Report was issued on November 5, 2013. Responsibility for the accuracy of the presented data and the completeness and fairness of the presentation, including all disclosures, rests with the District. We believe the data, as presented, is accurate in all material aspects; that it is presented in a manner designed to fairly set forth the financial position and results of operations of the District as shown by the disclosure of all financial activity of its various funds; and, that all disclosures necessary for maximwn public understanding of the District's financial status have been incorporated within this report.

The comprehensive annual financial report is presented in three sections: 1. The introductory section includes this transmittal letter, the District's organizational chart and

listing of officers and officials.

2. The financial section includes the Management Discussion and . Analysis, the basic financial statements, notes, required supplementary information, and the individual fund financial schedules, as

well as the independent auditor's report on the basic fmancial statements and schedules.

3. The statistical section includes selected financial and demographic information, generally presented on a multi year basis.

This report includes all funds of the District. The District provides a full range of services to its residents, including instruction, supporting services, community services, and debt services. In addition, the District participates in a joint agreement for transportation services. There are other government entities, such as City of Crystal Lake, Village of Lakewood, City of Crystal Lake Park District, and the Village ofLake in the Hills, which are located primarily within the District's limits. The District exercises no financial oversight responsibility in relation to these entities and they are therefore not included in the District's financial statements.

Educational Excellence for all Students is our Passion and Commitment.

Basis of Accounting and Reporting

The District reports the Government-wide financial statements on the accrual basis of accounting, the Fund financial statements are prepared on the modified accrual basis. The notes to the financial statements expand upon the basis of accounting used by the District as well as all District accounting policies and procedures. All District funds are included in this report and have been audited by Baker Tilly Virchow Krause LLP, Certified Public Accountants. Their opinion is unmodified.

The financial statements have been prepared in accordance with the standard set forth by the Governmental Accounting Standards Board. The Association of School Business Officials has also adopted these standards. The presentation allows the reader to obtain an overview of the District's financial operations by viewing the basic financial statements in the front section of the report. In order to obtain a more detailed financial overview of the District, the reader can refer to the individual fund financial statements included within the required supplementary information and supplementary information sections.

Local Economic Conditions and Outlook

Crystal Lake Community Consolidated School District No. 47 services most of the City of Crystal Lake and portions of the Village of Lakewood, the Village of Lake in the Hills, and the Village of Bull Valley. Located approximately 50 miles northwest of Chicago, Illinois in McHenry County, Residential property growth and accompanying student population growth within the District boundaries has begun to decline compared to the rapid expansion that occurred from the late 1980's until a few years ago. The District also commercial growth has begun to slow due to the current economy.

The expansion of District's tax base over the last to decades as well as the passage of an educational fund referendum in April, 1999 has provided the District with tax revenues needed to support the educational programs that are required to educate nearly 8,000 students despite the passage of the Property Tax Extension Limitation Law in 1990. This law limits access to existing property tax revenue increases to the lesser of the previous years' C.P.I. or 5% plus full access to property taxes on new property for one year. Due significant budget issues by the State of Illinois, District 47 has recently seen decreases in its General State Aid revenue from this second largest revenue source in recent years and this decrease will impact the districts spending habits for years to come.

The District added a new elementary school and additional classrooms to existing schools in 2001 as a result of the citizens of the District supporting a $22.5 million bond issue that passed in April, 1999. Four additional classrooms and a new cafeteria/multi-purpose room were added to Bemotas Middle School for the 2005-2006 school year through a combination of bond proceeds and developer impact fees. The District also issued $15.0 million Build America Bonds in fiscal year 2010. The proceeds from this issuance are being used for deferred maintenance projects and will be paid for out of a redistribution of the property tax levy.

During 2012-2013, the District purchased a "bank owned" warehouse that was funded exclusively from developer impact fees that were set to expire if not used for a qualifying purchase. The warehouse replaces a leased warehouse and is being utilized by Operations and Maintenance, Print Shop, Food Services, curriculum storage and more. In addition, the District expanded its Food Services to include breakfast offerings in 2012-2013.

11

The Board of Education and the administration have spent a great deal of time reviewing the District's cash flow projections. Due to the current economy, District fund balances have seen erosion in recent years causing the District to institute a number of cost reduction initiatives including decreasing the number of educators through natural attrition in recent years. With minimal projected increases in revenue, and the uncertainties surrounding pension cost shifts, state transportation reimbursement levels and the current District's teacher contract negotiations, the District is exploring a number of strategic initiatives in compliance with the Districts fund balance policy that impact student achievement the least.

The District is operating under the expired contract with its teachers and negotiations continue. The 2010-2011 to 2012-2013 overall contract froze salaries for the first year and allows for salary increases in the amount of Yz of the average Consumer Price Index in the second and third years. District 47's teacher salary schedule is not a traditional salary schedule as does not have an automatic increase related to step. The teacher contract also provided for freezes or reductions in other salary and benefit portions of the contracts. With salary and benefits being 75% of the District's expenditures, the results of future contract negotiations could have a material impact on District fund balances.

District Financial Policy

Based on its fiscal responsibility function, the Board had previously approved Board Fiscal Policy 4.2 -Fund Balance. The policy established key financial targets and objectives to consider when adopting an annual budget. In summary, the policy aims to maintain the District's financial health and liquidity requirements overtime.

A few requirements of the Fiscal Policy: • Balance Operating Budget: Operating Revenues >= Operating Expenditures; • Days Cash on Hand: meet minimum threshold of 90 days; • Cash Balances: meet minimum threshold of 25% of annual expenditures.

It is this Fiscal Policy which continues to guide administration from a financial perspective.

Accounting Systems and Budgetary Control

In developing and evaluating the District's accounting system, consideration is given to the adequacy of internal accounting controls. Such controls are designed to provide reasonable, but not absolute, assurance regarding: (1) the safeguarding of assets against loss from unauthorized use or dispositions; and (2) the reliability of financial record for preparing financial statements and maintaining accountability for District assets. We believe that the District's internal accounting controls adequately safeguard assets and provide reasonable assurance of the proper recording of financial data.

Budgetary control is maintained at line item levels and built up into program and/or cost centers before being combined to form totals by fund in accordance with the Illinois Program Accounting Manual. All actual activity compared to budget is reported to the District's management on a monthly basis. This monthly report compares each line item account balance to the annual budget with summary totals given at the cost

lll

center and/or program, fund, and total District levels. Any extraordinary variance and/or unanticipated expenditures are monitored by management and fully disclosed to the board budget committee.

Financial Condition of the School System

The District prepares its financial statements following GASB Statement No. 34. Adherence to this statement creates basic financial statements for reporting on the District's financial activities as follows:

Government-wide financial statements-These statements are prepared on the accrual basis of accounting, which is similar to the basis of accounting followed by most businesses.

Fund financial statements-These statements present information for individual major funds rather than by fund type. Governmental funds use the modified accrual basis of accounting and include reconciliation to the governmental activities accrual information presented in the Government-wide financial statements. Fiduciary funds use the accrual basis of accounting.

The Administration is responsible for preparing a Management's Discussion and Analysis (MD&A) of the District. This discussion follows the Independent Auditors' Report, providing an assessment of the District finances for 2013 and a comparison to performance in 2012, a description of significant capital asset and long-term debt activity during the year and analysis of resources available for the future. The MD&A can be found in the financial section of this report and should be read in conjunction with the transmittal letter.

Cash Management

The District invests up to 100% of available cash, timing investment maturities to actual cash needs. In addition, the District's general fund checking account is interest bearing. Investments are maintained primarily in certificates of deposit. At any point in time, the District's major checking account is secured for any balances that may be over the FDIC limits by mortgages that are pledged to the District by the bank. The District maintains investment relationships with Home State Bank of Crystal Lake, Crystal Lake Bank & Trust, BMO Harris Bank in Barrington, Illinois, Wayne Hummer Investment in Chicago, Illinois and PMA Financial Network, Inc. in Aurora, Illinois.

Currently, the District invests are split fairly equally among the approved investment providers. The debt service funds and the working cash funds are invested with these institutions depending on interest rates and funding needs of the District. The administration continues to monitor the interest rates earned by the District's investments to assure that they are competitive with rates available elsewhere.

Risk Management

The District is an active participant in the protection of the District against liability, property, worker compensation, and errors and omissions claims. Currently, the District is a member of an insurance cooperative, with over 170 other districts, that provides coverage in the areas listed above. The Collective Liability Insurance Cooperative is a working pool the pays claims up to a predetermined limit and then excess insurance is purchased to pay claims when they exceeds the limit on both and individual and

lV

aggregate basis. The cooperative not only provides insurance protection, but it also provides a very active loss prevention program to help reduce the exposures to the districts.

Independent Audit

As required by the School Code of Illinois and the District's adopted policy, an annual audit of the books of account, financial records, and transactions of all funds of the District has been made by an independent auditor. The accounting firm of Baker Tilly Virchow Krause, LLP, Certified Public Accountants, was selected by the District's Board of Education. In addition to meeting the requirements set forth in state statutes, the audit also was designed to meet the requirements of the Single Audit Act and related OMB Circular A-133. The auditors' report on the basic financial statements and individual fund schedules is included in the financial section of this report. The auditors' reports, related specifically to the single audit, are included in the single audit report under separate cover.

Recognition

Pursuant to the authority provided by Section lA-8 of the School Code, the Illinois State Board of Education (IS BE) developed the "School District Financial Profile" to help monitor the finances of school districts and identify which are in or are moving toward financial difficulty.

There are five financial profile indicators that are used: • Fund Balance to Revenue Ratio • Expenditure to Revenue Ratio • Days Cash on Hand • Percent of Short-Term Borrowing Ability Remaining • Percent of Long-Term Debt Margin Remaining

Additionally, there are four categories that are used to designate school districts based upon the score that is determined. Those categories are:

• Financial Recognition • Financial Review • Financial Early Warning • Financial Watch

The District was awarded the highest level designation of"Financial Recognition" for 2011-2012, meaning that it requires little or no review or involvement by ISBE, unless reported.

A detailed explanation of the process utilized to develop the financial profile can be found at http://www .isbe.netl sfins/ afr/profile.pdf.

We believe that our current comprehensive annual financial report continues to meet the requirements for the highest level designation.

v

Closing Statement

It is our intention that this Comprehensive Annual Financial Report wiU provide the District's management, outside investors, and interested local citizens with a most meaningful financial presentation. We hope that all readers of this report will obtain a clear and concise understanding of the District's financial condition as

of June 30, 2013.

We would also like to extend our appreciation to the members of the Board of Education, especially, the members of the board finance committee for their interest and support in planning and conducting the financial operation of the District in a responsible and progressive manner.

Respectfully submitted,

Interim

�Q __ xevm emer . --· - · - - . ChiefFinancial Officer

VI

Association of School Business Officials International

fJJie Certificate of P.:{f:ellence in Pinanciaf �O'fti"'J )l:wara

is presentea to

Community Consolidated

School District No. 47 Por Its Compreliensive)f.nnualPinancia{�ort (C}t�

Por tlie Pisca{%arP.nd'eaJune 30, 2012

The CAFR has been reviewed and met or exceeded

ASBO International's Certificate of Excellence standards

"£pt� Ron McCulley, CPPB, RSBO

President vii

John D. Musso, CAE, RSBA

Executive Director

;S ..... .....

Assistant Superintendent of -

Curriculum & Instruction

Director of Assessment ,- & Accountability

Director of English r-- Language Learning

Literacy

Coaches

Reading

Recovery

Music

Coordinator

Curriculum

Specialists

Community Consolidated School District 47 Organizational Chart

I Community I

I Board of Education I I Superintendent I I I

Chief Financial Officer Assistant Superintendent of

Human Resources

Director of

SPED (3) Director of Director of Hr Specialists 1---

Finance Transportation

I I Certified

School Nurses Payroll Director of

Specialist Food Service Benefits

Coordinator

I Health Clerks

Bookkeeping Substitute

Staff Coordinator

-

Building Principals (12)

Assistant

Principals (13.5) .. -

I Building teachers and

Support Staff

Chief Operations Officer

I I Director of Director of

Inform. Serv. Operations

I I Mgr. ofTech Operations

& Ntwrk Serv. Coordinator

I I

I Tech. Services Maintenance

Mana�er Supervisor

I I

I Building Maintenance

Technicians Workers

I I

I Web Manager Grnds/Wareh/

Printshop

I I

I Stu. Info. Custodians

Services Coor.

CRYSTAL LAKE COMMUNITY CONSOLIDATED

SCHOOL DISTRICT NO. 47

Name

Jeff Mason

Rob Fetzner

Nancy Gonsiorek

Ryan Farrell

Dr. Betsy Les

Donna Ricci

Eileen Palsgrove

Dr. Kathy J. Hinz

Kevin Werner

Jean Bevevino

Lori Parrish

Dave Jenkins

Kevin Werner

Officers and Officials

June 30, 2013

Board of Education

Position

President

Vice President

Member

Member

Member

Member

Member

District Administration

Interim Superintendent

Chief Financial Officer

Term Ex:Qires

2017

2015

2015

2015 2017

2017

2017

Assistant Superintendent of Curriculum & Instruction

Assistant Superintendent of Human Resources

Chief Operating Officer

Official Issuing Report

Chief Financial Officer

Department Issuing Report

Business Services

ix

INDEPENDENT AUDITORS' REPORT

To the Board of Education Crystal Lake Community Consolidated School District No. 47 Crystal Lake, I l l inois

Report on the Financial Statements

BAKER TILLY

Baker Tilly Virchow Krause, LLP 130 I \XI 22nd St, Ste 400 Oak Brook, lL 60523-3389 tel630 990 3131 fax 630 990 0039 bakeo tilly.com

We have audited the accompanying financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of Crystal Lake Community Consolidated School District No. 47, as of and for the year ended June 30, 2013, and the related notes to the financial statements, which collectively comprise Crystal Lake Community Consolidated School District No. 47's basic financial statements as l isted in the table of contents.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fai r presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditors' Responsibility

Our responsibility is to express opinions on these financial statements based on our audit. 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 a1nd perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors' judgment, including the assessment of the risks of material m isstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control over financial reporting relevant to Crystal Lake Community Consolidated School District No. 47's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of Crystal Lake Community Consol idated School District No. 47's internal control. Accordi ngly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overal l presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Opinions

In our opinion, the financial statements referred to above present fairly, in al l material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of Crystal Lake Community Consolidated School District No. 47 as of June 30, 201 3 and the respective changes in financial position thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.

�Jnmdet�endenlm.,.mbe/OI BAKER TILLY INTERNATIONAL - 1 - An A ffirmarivl! .-\ction Equ;t[ Opportullit) Emplo�w

To the Board of Education Crystal Lake Community Consolidated School District No. 47

Emphasis of Matter

As d iscussed in Note 3, Crystal Lake Community Consolidated School District No. 47 adopted the provisions of GASB Statement No. 63, Financial Reporling for Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position, effective July 1 , 201 2 . Our opinions are not modified with respect to this matter.

Other Matters

Prior-Year Comparative Information

We have previously audited Crystal Lake Community Consolidated School D istrict No. 47's 201 2 financial statements, and we expressed unmodified audit opinions on the respective financial statements of the governmental activities, each major fund, and the aggregate remaining fund information in our report dated November 5, 201 2 . In our opinion, the summarized comparative information presented herein as of and for the year ended June 30, 201 2, is consistent, in al l material respects, with the audited financial statements from which it has been derived.


Accounting principles general ly accepted in the United States of America require that the required supplementary information as l isted in the table of contents be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is requ ired by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, econom ic, or h istorical context. We It is also reported as restricted net position in the government-wide financial statementshave appl ied certain l im ited procedures to the required supplementary information in accordance with aud iting standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements . We do not express an opinion or provide any assurance on the information because the l im ited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

Supplementary Information

Our audit for the year ended June 30, 201 3 was conducted for the purpose of forming opinions on the financial statements that collectively comprise Crystal Lake Community Consolidated School District No. 47's basic financial statements. The supplementary information as l isted in the table of contents for the year ended June 30, 201 3 is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information is the responsibil ity of management and was derived from and relates d irectly to the underlying accounting and other records used to prepare the basic financial statements . The information has been subjected to the auditing procedures applied in the audit of the basic financial statements for the year ended June 30, 201 3, and certain additional procedures, including comparing and reconcil ing such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with aud iting standards generally accepted in the United States of America. In our opinion, the supplementary information as l isted in the table of contents is fairly stated in all material respects , in relation to the basic financial statements as a whole for the year ended June 30, 201 3.

- 2 -

To the Board of Education Crystal Lake Comm unity Consolidated School D istrict No. 47

We also previously audited, in accordance with auditing standards generally accepted in the United States of America, the basic financial statements of Crystal Lake Community Consolidated School District No. 47 as of and for the year ended June 30, 201 2 (not presented herein), and have issued our report thereon dated November 5, 201 2, which contained unmodified opinions on the respective financial statements of the the governmental activities, each major fund, and the aggregate remaining fund information. The supplementary information as listed in the table of contents for the year ended June 30, 201 2 is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information is the responsibil ity of management and was derived from and relates directly to the underlying accounting and other records used to prepare the 201 2 financial statements. The information has been subjected to the auditing procedures applied in the audit of the 201 2 basic financial statements and certain additional procedures, including comparing and reconci l ing such information directly to the underlying accounting and other records used to prepare those financial statements or to those financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. I n our opinion, the supplementary information as l isted in the table of contents is fairly stated in a l l material respects in relation to the basic financial statements as a whole for the year ended June 30, 201 2.

Other Information

Our audit was conducted for the purpose of forming opinions on the financia l statements that collectively comprise Crystal Lake Community Consolidated School District No. 47's basic financial statements. The introductory and statistical sections are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information has not been subjected to the auditing procedures applied in the audit of the basic financial statements, and accordingly, we do not express an opinion or provide any assurance on it.

Other Reporting Required by Government Auditing Standards

I n accordance with Government Auditing Standards, we have also issued our report dated November 5, 201 3 on our consideration of Crystal Lake Community Consolidated School District No. 47'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 com pliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Crystal Lake Community Consolidated School District No. 47's internal control over financial reporting and compliance. ��.�� v� K�, w November 5, 201 3

-3-

Crystal Lake Community Consolidated School District No. 47 Management's Discussion and Analysis (Unaudited) As of and for the Year Ended June 30, 2013

The discussion and analysis of Crystal Lake Community Consolidated School District No. 47's (the "District") financial performance provides an overall review of the District's financial activities as of and for the year ended June 30, 201 3 . The management of the District encourages readers to consider the information presented herein in conjunction with the transmittal letter found in the introductory section and the basic financial statements to enhance their understanding of the District's financial performance. All amounts, unless otherwise indicated, are expressed in millions of dollars. Certain comparative information between the current year and the prior is required to be presented in the Management's Discussion and Analysis (the "MD&A").

Financial Highlights

> In total, net position increased by $2.3. This represents a 3% increase from 2012 . Due to significant decreases in state and federal funding, the District experienced deficit spending in recent years causing the Board to institute a number of difficult cost cutting initiatives to achieve the noted net asset increase. The Board takes a long-term view on the District finances and its policy now aims to adopt a balanced budget annually.

> General revenues accounted for $71 .8 in revenue or 76% of all revenues. Program specific revenues in the form of charges for services and fees and grants accounted for $23 .0 or 24% of total revenues of $94.8.

> The District had $92 .5 in expenses related to government activities. However, only $23.0 of these expenses were offset by program specific charges and grants .

Overview of the Financial Statements

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

> Government-wide financial statements,

> Fund financial statements, and

> Notes to basic financial statements .

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

Government-wide financial statements

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

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

- 4 -


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), supporting services, operation and maintenance of facilities and transportation services .

Fund financial statements

A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The District 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 proprietary 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-term financing requirements.

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

The District maintains seven individual governmental funds. Information is presented separately in the governmental 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, IMRF /Social Security Fund, Debt Service Fund, Capital Projects Fund, and Fire Prevention and Safety Fund, all of which are considered to be major funds.

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

Fiduciary 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 fiduciary 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 the government-wide and fund financial statements.

- 5 -


Other information

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

District-Wide Financial Analysis

The District's combined net position was higher on June 30, 2013 , than it was the year before, increasing 3% to $76.2.

Table 1 Condensed Statements of Net Position (in millions of dollars)

2012 2013

Assets: Current and other assets $ 1 27.8 $ 1 23.7 Capital Assets 60.0 64.3

Total assets 1 87.8 1 88.0

Liabilities: Current l iabil ities 72.3 73.3 Long-term debt outstanding 41 .6 38.5

Total l iabil ities 1 1 3.9 1 1 1 .8

Net position: Net investment in capital assets 26.4 29.3 Restricted 1 2 .6 1 1 .7 Unrestricted 34.9 35.2

Total net position � 73.9 � 76.2

Revenues in the governmental activities of the District of $94.8 exceeded expenditures by $2 .3 . This was attributable primarily to decreases in instructional regular program costs and increases in operating grants and contributions revenue and tax revenue.

- 6 -

Crystal Lake Community Consolidated School District No. 47 Management's Discussion and Analysis (Unaudited)

As of and for the Year Ended June 30, 2013

Table 2 Changes In Net Position

_(in millions of do/larsl 2012

Revenues:

Program revenues: Charges for services $ 2.0 $ Operating grants & contributions 1 9.8 Capital grants & contributions 0.2

General revenues: Taxes 66.3 General state aid 3.9 Other 0 .5

Total revenues 92.7

Expenses: Instruction 59.5 Pupil & instructional staff services 6.4 Administration & business 8 . 1 Transportation 4.6 Operations & maintenance 7.7 Other 5.7

Total expenses 92.0

Increase (decrease) in net position � 0.7 �

2013

1 .8 21 .0

0.2

67.7 3.7 0 .4

94.8

59.3 6.9 8.2 4.2 8.3 5.6

92.5

2.3

Property taxes accounted for the largest portion of the District's revenues, contributing 72%. The remainder of revenues came from state, federal grants and other sources. The total cost of all the District's programs was $92.5 , mainly related to instructing and caring for the students and student transportation at 76%.

- 7 -


District-Wide Revenues by Source

Charges for services 2% 4% General state aid

Operating grants & contributions 22%

District-Wide Expenses by Function

6% Other

9% Operations & maintenance

Admin istration & business

7% Pupil & instructional staff services Instruction

Financial Analysis of the D istrict's Funds

The District's Governmental Funds balance decreased from $54.2 to $50.8 .

- 8 -


For fiscal 2013 , the greatest cause to the decreased fund balance was the Capital Projects Fund which decreased $3.9 to pay for these deferred building maintenance projects. The decrease in the fund balance is offset by fund balance from Build America Bonds issued in fiscal year 2010. The General Fund increased $0.9 due primarily to increased property taxes, state and federal aid partially offset by increased expenditures, in particular state retirement contributions. Operations and Maintenance Fund decreased $0.8 due primarily to increased capital outlays. Transportation fund increased $0.5 primarily due to funding increases. All other funds had nominal changes to their fund balance.

Overall, revenues associated with governmental funds increased by $3. 8 or 4. 1 %. This is primarily due to increases of $2.2, $ 1 .4 and $0.5 in state aid, property taxes, and federal aid respectively which were partially offset by a slight decrease in other revenue. Expenditures associated with governmental funds increased by $0.8 or 0 .8%. Overall, instruction expenditures increased $0.5 , support services increased $0.4, debt services increased $0.2 and capital outlay decreased $0.3.

The District's budget is prepared according to Illinois law. The most significant budgeted fund is the General Fund. The analysis that follows provides explanation for the most significant variances between budgeted and actual results for each fund.

In the Operations and Maintenance Fund, total revenues and transfers were less than expenditures by $0.8. The fund balance change was $0.3 better than the budget. Revenues variance to budget was nominal. Expenditures were $0.3 less than budgeted. Favorability was primarily due to building improvements and capital outlays

In the Transportation Fund, total revenues were more than expenditures by $0.5 . The fund balance change was $ 1 . 1 better than the budget. Revenues were $0.8 more than budget. Favorability was primarily due to state sources (special education and state aid.) Expenditures were $0.3 less than budgeted. Favorability was primarily due to salary and benefits.

In the Municipal Retirement/Social Security Fund, total revenues were more than expenditures nominally which was consistent with budget expectations.

In the Debt Service Fund, total revenues and transfers were less than expenditures nominally which was consistent with budget expectations.

Capital Projects Fund total expenditures were more than revenues by $3.9 . The fund balance change was $ 1 .5 higher than the budget. Revenues were $0. 1 more than budget primarily due to investment income. Expenditures were $ 1 .6 more than budgeted. Unfavorability was primarily due to building improvements and capital outlays.

In the Fire Prevention and Life Safety Fund, total revenues were less than expenditures by $0. 1 which was consistent with budget expectations.

- 9 -


General Fund Budgetary H ighlights

The most significant budgeted fund is the General Fund. The analysis that follows provides explanation for the most significant variances between budgeted and actual results for the General Fund.

In the General Fund, total revenues were more than expenditures and transfers by $0.9. The fund balance change was $ 1 .0 better than the budget. Revenues were $0.2 less than budgeted. Unfavorability was primarily due to $0.5 federal source (grants) and $0. l local sources (student fees), partially offset by $0.4 of additional state revenue. Expenditures were $ 1 .2 less than budgeted. Favorability was primarily due to $ 1 .0 payments to other districts and governmental units (regular and special education programs) and $0.4 salaries and benefits, partially offset by $0.2 of additional supplies and materials.

Capital Assets and Debt Adm i nistration

Capital assets

By the end of 2013, the District had compiled a total investment of $ 100.0 ($64.3 net of accumulated depreciation) in a broad range of capital assets including buildings, land and equipment. Total depreciation expense for the year was $2.0. More detailed information about capital assets can be found in Note 6 of the basic financial statements.

Table 3 Capital Assets (net of depreciation) (in millions of dollars)

2012 2013

Land $ 1 .7 $ 1 .8 Construction in progress 1 .9 0.7 Depreciable buildings, property and equipment, net 56.4 61 .8

Total � 60.0 m 64.3

Long-term debt

The District retired $3 .5 in bonds in 2013 . Capital leases and other were reduced by $0. 1 . At the end of fiscal 2013 , the District had a debt margin of $86.8. More detailed information on long-term debt can be found in Note 7 of the basic financial statements.

Table 4 Outstanding Long-Term Debt (in millions of dollars)

2012 2013

General Obligation Bonds $ 38.3 $ 34.7 Other Post-Retirement Benefits Obligation 3.3 3.8

Total � 41 .6 � 38.5

- 1 0 -


Factors Bearing on 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:

A recent enrollment projection study forecasts declining enrollment trends for the next several years. The District is closely monitoring the impact of the declining enrollment to the District budget.

The District is currently negotiating a new CLETA (lEA NEA certified staff group) collective bargaining agreement as the most recent contract expired June 30, 2013 . As with prior negotiations, the District feels the contract negotiated may have a material impact on the Districts ability to adopt a balanced budget beginning in fiscal year 2015 .

With declining equalized assessed valuations (EAV), the tax cap is currently working in favor of taxing bodies. The tax cap allows Illinois taxing bodies to increase their total extension amount by the lesser of 5% or Consumer Price Index (CPI). For 2013, CPI was 1 .7%.

Unlike many other Illinois school districts, the Board of Education's commitment to its fund balance policy has allowed the District to maintain its current level of programs and services despite the current economic times. The safety valve from the District reserves to offset the current deficit spending has allowed the District time react to the reduction in state revenue in a manner that is systematic versus reactionary. The District continues to review all areas of spending for potential reductions in compliance with the fund balance policy to allow the District to maintain its strong financial position and quality educational programs.

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 information, contact the Business Office:

Kevin Werner, CFO Crystal Lake Community Consolidated School District No. 47 300 Commerce Drive Crystal Lake, IL 60014

- 1 1 -

C RYSTAL LAKE COM M U N ITY CONSOLIDATED SCHOOL DISTRICT NO. 47 STATEM ENT OF NET POSITION

Assets

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

Interest Property taxes Replacement taxes Intergovernmental

Capital assets: Land Construction in progress

AS OF JUNE 30, 201 3

Depreciable build ings, property and equipment, net

Total assets

Liabilities

Accounts payable Salaries and wages payable Other current l iabil ities I nterest payable Unearned revenue Health claims payable Long-term l iabil ities:

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

Total l iabilities

Net posit ion

Net investment in capital assets Restricted for:

Tort immunity Operations and maintenance Student transportation Retirement benefits Debt service Capital projects

Unrestricted

Total net position

See Notes to Basic Financial Statements

- 1 2 -

GOVERNMENTAL ACTIVIT IES

$ 86,675,345

1 27,357 34,333,207

1 61 , 299 2, 384,677

1 ,804,370 758,022

61,753.860

1 87.998.1 37

1 ,235,991 1 ,707, 1 1 2

241 ,430 643,71 6

68,91 6,987 572,409

3, 730,000 34.737.575

1 1 1 1785,220

29,31 6,258

730, 1 71 929,704

8, 580,303 757,959 395,287 293,366

35.209.869

$ 76.2 1 2.91 7

THIS PAGE IS I N T E NTIO N ALLY L E FT B L A N K

CRYSTAL LAKE COM M U N ITY CONSOLIDATED SCHOOL DISTRICT NO. 47

FUNCTIONS/PROG RAMS

Governmental activities I nstruction:

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 d istricts and

gov't units - excluding special education

Interest and fees

Total governmental activities

STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 201 3

PROGRAM REVE N U E OPERATING CAPITAL GRANTS

CHARGES FOR GRANTS AND AND EXPENSES SERVICES CONTRIBUTIONS CONTRIBUTIONS

$ 31 ,043,377 $ 950,31 7 $ 49,044 $ 1 4,335,683 6,063,350

2,674,687 1 1 ,924 399,220 1 1 ,241 ,490 1 1 ,241 ,490

3,928,664 2,960,873 1 63,262 1 ,81 0,580 3,892,467 2,405,360 729,972 970,802 4,239,922 1 9,781 2 , 1 52,771 8,345,458 44,047 1 94,61 6 2,388,781

243,922 32,346

1 ,493,330 1 434 61 7

� 92,471,557 � 1,756,041 � 21,0391939 � 1 94,61 6

General revenues: Taxes:

Real estate taxes, levied for general purposes Real estate taxes, levied for specific purposes Real estate taxes, levied for debt service Personal property replacement taxes

State aid-formula grants Investment income Miscellaneous

Total general revenues

Change in net position

Net position, beginning of year

Net position, end of year


- 1 3 -

NET (EXPENSES) REVENUE AND

CHANGES IN NET POSITION

GOVERNMENTAL

$

ACTIVITIES

(30,044,01 6) (8,272 ,333} (2,263,543}

(3,928,664) (2, 797,61 1 ) (1 ,81 0,580) (3,892,467)

(704,586) (2,067,370) (8, 1 06, 795) (2,388, 781 )

(243,922) (32,346)

(1 ,493,330) (1 ,434,61 7)

(69.480,961 )

51 ,579,329 1 1 ,756,867

3,534,248 835,856

3,667,626 387, 365

9 1 02

71 770 393

2,289,432

73.923.485

$ 76,2 1 2,91 7

CRYSTAL LAKE COMMUN ITY CONSOLIDATED SCHOOL DISTRICT NO. 47

GOVERNMENTAL FUNDS BALANCE SHEET

AS OF JUNE 30, 201 3 WITH COMPARATIVE TOTALS AS OF JUNE 30, 201 2

OPERATIONS AND MUNICIPAL MAINTENANCE TRANSPORTATION RETIREMENT/SOCIAL

GENERAL FUND FUND FUND SECURITY FUND

Assets

Cash and investments $ 67, 1 94,278 $ 4,443,944 $ 8,884,204 $ 2 , 1 85,653 Receivables (net al lowance for uncollectibles):

Interest 1 25,982 Property taxes 26,963,743 3,283,21 3 772, 1 65 1 ,436, 1 97 Replacement taxes 1 06,522 41 ,793 7,726 5,258 I ntergovernmental 1 847 078 537 599

Total assets � 961237,603 � 7,768,950 � 1 01201,694 � 3,627,1 08

Liabilities and fund balance

Accounts payable $ 1 65,738 $ 279,280 $ 78,951 $ Salaries and wages payable 1 ,707, 1 1 2 Payrol l l iabil ities 239, 589 1 ,573 268 Deferred revenue 54,440,806 6,558,393 1 ,542,440 2,868,881 Health claims payable 572,409

Total l iabilities 57. 1 25,654 6,839,246 1 .621 .391 2,869,1 49

Fund balance

Restricted 730, 1 71 846, 1 51 8,580, 303 757,959 Restricted for Developers' Im pact Accounts 83,553 Assigned for Self-Insurance 9,345,502 Unassigned 29,036,276

Total fund balance 39,1 1 1,949 929,704 8,580,303 757 959

Total l iabil ities and fund balance � 961237,603 � 7,768!950 � 1 0,201,694 � 3,627,1 08


- 1 4 -

TOTAL FIRE PREVENTION

DEBT SERVICE CAPITAL AND LIFE SAFETY FUND PROJ ECTS FUND FUND 201 3 2012

$ 2,886,401 $ 641 ,085 $ 439,780 $ 86,675,345 $ 91 ,350,81 9

1 ,342 33 1 27,357 265,364 1 ,851 ,928 25,961 34,333,207 33,335,954

1 61 ,299 1 49,208 2,384,677 2,705,041

$ 4.739,671 $ 641 '1 1 8 $ 465,741 $ 1 23,681 .885 $ 1 27.806,386

$ $ 591 ,505 $ 1 20,51 7 $ 1 ,235,991 $ 1 ,858,81 1 1 ,707, 1 1 2 1 ,668,454

241 ,430 1 ,039,068 3,700,668 33 51 ,858 69, 1 63,079 68,501 ,651

572.409 578,553

3.700.668 591,538 1 72 375 72,920,021 73,646,537

1 ,039,003 49,580 293,366 1 2,296,533 1 4,976,806 83, 553 2,21 9,676

9,345,502 9,559,494 29,036,276 27,403,873

1,039,003 49 580 293,366 50,761,864 54,1 59,849

� 4,739,671 m 641 '1 1 8 � 465,741 m 1 23!681 ,885 m 1 27,806,386

- 1 5 -

THIS PA GE IS INTENTIO NALLY LEFT BLANK

C RYSTAL LAKE COM M l,J N ITY CONSOLIDATED SCHOOL DISTRICT NO. 47 RECONCIL IATION OF THE GOVERNMENTAL FUNDS

BALANCE SH EET TO THE STATEMENT OF NET POSITION AS OF JUNE 30, 201 3

Total fund balances - governmental funds

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

Net capital assets used in governmental activities and included in the Statement of Net Position do not require the expenditure of financial resources and, therefore, are not reported in the Governmental Funds Balance Sheet.

Certain revenues receivable by the District and recognized in the Statement of Net Position do not provide current financial resources and are deferred in the Governmental Funds Balance Sheet, as follows:

Interest revenue $ 1 27,357 1 1 8 735 State and federal grant revenue

Long-term liabil ities applicable to the District's governmental activities are not due and payable in the current period, and accordingly, are not reported as fund liabil ities. All l iabi l ities, both current and long-term , are reported in the Statement of Net Position. Balances at June 30, 201 3 are:

Bonds payable Unamortized bond refunding amounts Unamortized bond premium Other post-retirement employee benefits

Interest on long-term l iabil ities accrued in the Statement of Net Position wil l not be paid with current financial resources and, therefore, is not recognized in the Governmental Funds Balance Sheet.

Net position of governmental activities


- 1 6 -

$ (34,245,000) 276,71 8

(757,079) (3,742.21 4)

$ 50,761 ,864

64,31 6,252

246,092

(38,467,575)

(643, 71 6)

$ 76,2 1 2.91 7

C RYSTAL LAKE COM M U N ITY CONSOLIDATED SCHOOL DISTRICT NO. 47

GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES

FOR THE YEAR ENDED JUNE 30, 201 3 WITH COMPARATIVE TOTALS FOR THE YEAR ENDED J UNE 30, 201 2

OPERATIONS AND MUNICIPAL MAINTENANCE TRANS PORTATION RETIREMENT/SOCIAL

GENERAL FUND FUND FUND SECURITY FUND

Revenues Property taxes $ 52,577,629 $ 6,402,063 $ 1 ,505,659 $ 2,800,509 Corporate personal property

replacement taxes 552,000 21 6,571 40,036 27,249 State aid 1 8,893,959 750,000 2 ,769, 1 86 Federal aid 3,886,472 Investment income 334,501 8,91 1 1 25,331 1 ,71 0 Other 1 476 1 49 1 87.436 1 9 781

Total revenues 77.720 710 7,564,981 4,459,993 2,829,468

Expenditures Current:

Instruction: Regular programs 29,039,496 382,256 Special programs 1 1 , 329,988 61 2,629 Other instructional programs 2,569,756 85,482 State retirement contributions 1 1 ,241 ,490

Support Services: Pupils 3, 778,446 1 20,491 Instructional staff 2,837,074 1 06,729 General administration 1 , 796,622 1 1 ,692 School administration 3 ,71 8,605 146,034 Business 2,279,561 1 1 2,089 Transportation 25,344 68,741 3,669,357 474,784 Operations and maintenance 1 78,707 5,897,033 577,840 Central 2, 1 91 ,423 1 68,455 Other supporting services 243,922

Community services 32,271 46 Payments to other d istricts and gov't units 3 ,778,0 1 4 1 0 ,747

Debt Service: Principal Interest and other

Capital outlay 460 683 1 .1 63,1 28 254 430

Total expenditures 75,501,402 7,1 28,902 3,934,534 2,798,527 Excess (deficiency) of revenues over

expenditures 2,21 9,308 436.079 525 459 30 941

Other financing sources (uses) Transfers in 1 32,336 Transfers (out) (1 ,342,855) (1 ,372,000)

Total other financing sources (uses) (1 ,342,855) (1 .239.664)

Net change in fund balance 876,453 (803,585) 525,459 30,941

Fund balance, beginning of year 38,235,496 1 .733.289 8 054 844 727 0 18

Fund balance, end of year � 39,1 1 1,949 � 929,704 � 8,580,303 � 757,959

See Notes to Basic F inancial Statements

- 1 7 -

TOTAL FIRE PREVENTION

DEBT SERVICE CAPITAL AND LIFE SAFETY FUND PROJ ECTS FUND FUND 201 3 20 1 2

$ 3,534,248 $ $ 50,336 $ 66,870,444 $ 65,5 1 3,824

835,856 81 8,068 22,41 3, 1 45 20,259,588

1 94,61 6 4 ,081 ,088 3,540,571 33,1 78 20,996 745 525,372 565,881

81 777 1 765 1 43 1,952.684

3,762,042 1 02 773 51 081 96,491,048 92,650,61 6

29,421 , 752 29,821 ,61 9 1 1 ,942,6 1 7 1 1 ,91 0,303

2,655,238 2,909,299 1 1 ,241 ,490 1 0, 1 41 ,304

3,898,937 3,71 5,328 2,943,803 2,635,220 1 ,808,31 4 1 ,693,221 3,864,639 3,890,622 2,391 ,650 2,458,540 4,238,226 4,408,063

432,248 7,085,828 7 , 1 22,643 2,359,878 2,077,492

243,922 30,362 32,31 7 21 ,405

3,788,761 4 , 1 48,654

3,425,000 3,425,000 3 , 1 55,000 1 ,548,966 1 ,548,966 1 ,645,524

4,924,566 1 94 888 6,997,695 7.336.406

4.973 966 5.356.81 4 1 94 888 99,889,033 99,1 21,005

(1 .21 1,924) (5.254 .041 ) (1 43.807) (3,397,985) (6.470,389)

1 ,236,670 1 ,372,000 2,741 ,006 1 ,558,982 (26,1 51 ) (2.741,006) (1,558,982)

1 .2 1 0,51 9 1 .372,000

( 1 ,405) (3,882,041 ) ( 1 43,807) (3,397,985) (6,470,389)

1,040,408 3,931,621 437 1 73 54 1 59 849 60.630,238

� 1,039,003 � 49,580 � 293,366 � 50,761,864 � 54,1 59,849

- 1 8 -

THIS PAGE IS INTE N TIONALLY LEFT B LA N K

C RYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 RECONCILIATION OF THE GOVERNMENTAL FUNDS

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

FOR THE YEAR ENDED JUNE 30, 201 3

Net change i n fund balances - total governmental 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 al located over their estimated useful l ives and reported as depreciation expense. This is the amount by which current year net capital outlay exceeds depreciation expense in the current period.

Certain revenues included in the Statement of Activities do not provide current financial resources and , therefore, are deferred in the fund statements:

Interest revenue $ (1 38,007) Grant revenue (1,592,052)

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 position . This is the amount of current year principal repayments.

The effect of debt-related transactions is as follows: Amortization of premiums $ 1 1 6,81 2 Amortization of deferred refunding costs (42,696)

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 $ 40,233 Change in other post employment benefits obligation (41 0,691 )

Change in net position of governmental activities �


- 1 9-

(3,397,985)

4,288,8 1 8

( 1 '730,059)

3,425,000

74, 1 1 6

(370,458)

21289,432

CRYSTAL LAKE COMMUN ITY CONSOLIDATED SCHOOL DISTRICT NO. 47

AGENCY FUND

Assets

Cash and investments

Total assets

Liabilities

Due to employees Due to student groups

Total liabilities

STATEMENT OF FIDUCIARY ASSETS AND LIABIL IT IES AS OF JUNE 30, 201 3


- 20 -

$

$

$

$

AGENCY FUNDS

384.435

384.435

1 92,029 1 92.406

384.435

CRYSTAL LAKE COM M U NITY CONSOLIQATED SCHOOL DISTRICT NO. 47 NOTES TO BASIC FINANCIAL STATEMENTS


NOTE 1 · SUMMARY O F SIGNIFICANT ACCOUNTING POLICIES

Crystal Lake Community Consolidated School District No. 47 (the "District") was incorporated on December 13 , 1920 and presently serves the communities of Crystal Lake, Lake-in-the-Hills, and Lakewood. The District is governed by an elected Board of Education. The Board of Education maintains final responsibility for all budgetary, taxing, and debt matters. The District is organized under the School Code of the State of Illinois, as amended. The accounting policies of the District conform to accounting principles generally accepted in the United States of America, as applicable to local governmental units of this type. The following is a summary of the more significant accounting policies of the District:

Basis of Presentation

Government-wide Financial Statements

The government-wide financial statements (i.e . , the statement of net position and the statement of activities) report information on all of the nonfiduciary activities ofthe 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 supported by taxes and intergovernmental 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 o f a given function are offset by program revenues . Direct expenses are those that are clearly identifiable with a specific function. Program revenues include: ( 1 ) 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 particular function. Taxes and other items not properly included among program revenues are reported instead as general revenues .

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 selfbalancing 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 fiduciary fund financial statements are reported using the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as revenue when all eligibility requirements have been met.

- 21 -

CRYSTAL LAKE COM M U N ITY CON SOLIDATED SCHOOL DISTRICT NO. 47 NOTES TO BASIC FINANCIAL STATEMENTS


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

Governmental fund financial statements are reported using the flow of current financial resources measurement focus and the modified accrual 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 District 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 expected 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 used for most of the instructional and administrative aspects of the District's operations . Revenues consist largely 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 those 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 of local property taxes.

Transportation Fund - accounts for all revenue and expenditures made for student transportation. Revenue is derived primarily from local property taxes and state reimbursement grants .

Municipal Retirement/Social Security Fund - accounts for the District's portion of pension contributions to the Illinois Municipal Retirement Fund, payments to Medicare, and payments to the Social Security System for 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 related costs. The primary revenue source is local property taxes levied specifically for debt service, transfers from operating funds and Build America Bond credits .

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 debt issuance.

Fire Prevention and Life Safety Fund - accounts for State-approved life safety projects financed through serial bond issues or local property taxes levied specifically for such purposes.

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.

- 22 -

C RYSTAL LAKE COM M UNITY CONSOLI DATED SCHOOL DISTRICT NO. 47 NOTES TO BASIC FINANCIAL STATEMENTS



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 the 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, Liabil ities and Net Position 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 included as investment mcome.

Receivables and Payables

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

- 23 -

CRYSTAL LAKE COM M U N ITY CONSOLIDATED SCHOOL DISTRICT NO. 47 NOTES TO BASIC FINANCIAL STATEMENTS



Deferred Revenue

Governmental 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 recognition 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:

Property taxes receivable for subsequent year Interest income receivable Local receipts receivable State and federal aid receivable

Total

Property Tax Revenues

Unavailable

$ 1 27,357

1 1 8 735

$ 246,092

Unearned Totals

$ 68,582,423 $ 68,582,423 1 27,357

334,564 334,564 1 1 8 735

� 68,91 6,987 � 6911 63,079

The District must file its tax levy resolution by the last Tuesday in December of each year. The District's 2012 levy resolution was approved during the December 17 , 2012 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 January 1 of that year. The owner of real property on January 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 property becoming eligible for taxation. The CPI rates applicable to the 2012 and 201 1 tax levies were 3 .0% and 1 .5%, respectively.

Property taxes are 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 1 and the second due on September 1 . Property taxes are normally collected by the District within 60 days of the respective installment dates.

The 2012 property tax levy is recognized as a receivable in fiscal 2013 , net of estimated uncollectible amounts approximately 1%. The District considers that the 2012 levy is to be used to finance operations in fiscal 2014. Therefore, the entire 2012 levy, including amounts collected in fiscal 2013, has been recognized as deferred revenue, in the accompanying financial statements.

Personal Property Replacement Taxes

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

- 24 -

CRYSTAL LAKE COM M U N ITY CONSOLI DATED SCHOOL DISTRICT NO. 47 NOTES TO BASIC FINANCIAL STATEMENTS


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

Prepaid Items

Certain payments to vendors that reflect costs applicable to future accounting periods are recorded as prepaid assets.

Capital Assets

Capital assets, which include buildings, improvements other than buildings, other equipment and food service equipment are reported in the government-wide financial statements . Capital assets are defined by the District as assets with an initial individual cost of more than $5,000 and an estimated useful life of more than 1 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 Site Improvements Transportation equipment Other equipment

Years

80 years 20 years

7-1 5 years 5-20 years

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, 2013 are determined on the basis of current salary rates and include salary related payments .

Long-Term Obligations

In the government-wide financial statements, long-term debt and other long-term obligations are reported as liabilities in the statement of net position. 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 are reported net of the applicable bond premium or discount. Bond issuance costs are reported as deferred charges and amortized over the term of the related debt.

- 25 -

CRYSTAL LAKE COM MUN ITY CONSOLIDATED SCHOOL DISTRICT NO. 47 NOTES TO BASIC F INANCIAL STATEMENTS



In the fund financial statements, governmental 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 position in the government-wide financial statements and displayed in three components :

Net investment in capital assets - 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 position - Consists of net position with constraints placed on its 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 position - All other net position that does not meet the definition of "restricted" or "net investment in capital assets."

When both restricted and unrestricted resources are available for use, it is the District's policy to use restricted resources first and then unrestricted resources.

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 inventory, 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).

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 (a resolution) 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 require 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 been delegated authority to assign1amounts . The Board of Education has declared that the Superintendent or his 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.

- 26 -

CRYSTAL LAKE COM M U N ITY CONSOLIDATED SCHOOL DISTRICT NO. 47 NOTES TO BASIC F INANCIAL STATEMENTS



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 balances for any governmental fund if expenditures exceed amounts restricted, committed or assigned for those specific purposes.

In circumstances where 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 committed fund balance, assigned fund balance, and lastly, unassigned fund balance. In all other funds (Special Revenue, Debt Service, Capital Projects), assigned fund balance will be spent first, followed by committed fund balance, and then restricted fund balance.

Governmental fund balances reported on the fund financial statements at June 30, 2013 are as follows:

The restricted fund balance in the General Fund is comprised of $730, 171 for tort immunity. The remaining restricted fund balances are for the purpose of the respective funds as described above in the Major Governmental Funds section. The assigned fund balance in the General Fund is for the purpose of the self-insurance for healthcare.

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, 2012, 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, 2013 , expenditures exceeded budget in the Tort Accounts of the General Fund, Operations and Maintenance Fund, Municipal Retirement I Social Security Fund and the Fire Protection and Life Safety Fund by $84,924, $806,915 , $5,533 and $144,888, respectively. These excesses were funded by available fund balances.

NOTE 3 - CHANGES IN ACCOUNTING PRINCIPLES

In June 201 1 , the GASB issued statement No. 63 - Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position. This statement provides financial reporting guidance for deferred outflows of resources and deferred inflows of resources. Previous financial reporting standards did not include guidance for these elements, which are distinct from assets and liabilities. The District implemented this standard effective July 1 , 2012 .

- 27 -



NOTE 4 - DEPOSITS AND I NVESTMENTS

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

Government-wide Fiduciary Total

Cash and investments $ 86,675,345 � 384,435 � 87,059,780

Total $ 86,6751345 � 384,435 � 871059,780

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 ISDLAF money market investment pool Other investments

Total

Fair Value

Term Series I nvestments $ 1 5, 000,000 Negotiable Certificates of Deposit 1 ,939,370

Total � 1 6,939,370

Investment Maturity (In Years)

Cash and investments

$ 51 ,652,464 1 8,467,946 1 6,939,370

$ 87.059,780

Less than one 1-5 5-10 More than 10

$ 1 5,000,000 $ $ $

744 245 1,1 95,1 25

� 1 5,744,245 � 1,1 95,1 25 $ $

Interest Rate Risk. Interest rate risk is the risk that changes in interest rates will adversely affect the value of an investment. The District does not have a formal investment policy that limits investment maturities as a means of managing its exposure to fair value losses arising from increasing interest rates.

Credit Risk. Credit risk is the risk that an issuer or other 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 general investment policy is to apply the prudent-person rule: Investments are made as a prudent person would be expected to act, with discretion and intelligence, to seek reasonable income, preserve capital, and in general, avoid speculative investments . The District's investment policy limits investments in short-term obligations of corporations organized in the United States with assets exceeding $500,000,000 if ( 1 ) such obligations are rated at the time of purchase at one of the three highest classifications established by at least tow standard rating services and which mature not later than 180 days from the date of purchase, (2) such purchases do not exceed 10% of the corporations outstanding obligations, and (3) no more than one-third of the public agency's funds may be invested in short-term obligations of corporations. As of June 30, 2013 , the District's negotiable CDs were unrated.

- 28 -



NOTE 4 - DEPOSITS AND INVESTMENTS - (CONTINUED)

The Illinois School District Liquid Asset Fund Plus (ISDLAF+) is a not-for-profit investment trust formed pursuant to the Illinois Municipal Code and managed by a Board of Trustees elected from participating members . The trust is not registered with the SEC as an investment company. Investments are rated AAAm and are valued at share price, which is the price for which the investment could be sold. ISDLAF operates in a manner consistent with Rule 2a7 of the Investment Company Act of 1940.

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, 2013, the bank balance of the District's deposit with fmancial institutions totaled $54, 169,056; ofthis amount, $21 , 777,564 was FDIC insured, and $30,581 ,577 was collateralized. The remaining $ 1 ,809,915 of deposits were uninsured and collateralized with securities held by the pledging financial institution, which is not considered "perfected" collateral.

Occasionally certain funds participating in the common bank accounts will incur overdrafts (deficits) in the account. The overdrafts result from expenditures that have been approved by the Board of Education.

NOTE 5 - INTERFUND TRANSFERS

During the year, the Board transferred $ 106, 1 85 in interest earned in the General Fund (Working Cash Accounts) to the Operations and Maintenance Fund. Also, during the year, the Board transferred $26, 1 5 1 in interest earned in the Debt Service Fund to the Operations and Maintenance Fund.

The Board transferred $ 1 ,236,670 from the General Fund (Educational Accounts) to the Debt Service Fund to service payments on its Build America Bonds.

The Board also transferred $ 1 ,372,000 from the Operations and Maintenance Fund (Developer's Impact Accounts) to the Capital Projects Fund to support facility and building improvements.

State law allows for the above transfers.

- 29 -


AS OF AND FOR THE YEAR ENDED J UNE 30, 201 3

NOTE 6 · CAPITAL ASSETS

Capital asset activity for the District for the year ended June 30, 2013, was as follows:

Capital assets not being depreciated:

�� $ Construction in progress

Total capital assets not being depreciated

Capital assets being depreciated:

Buildings Improvements other than buildings Other equipment

Beginning Balance Increases Decreases

Ending Balance

1 ,683,370 $ 1 21 ,000 $ $ 1 ,804,370 1 .928.328 __ __,_75=8=.0=2=2 ---'-'1,=92=8=,3=2=8 __ __,_75=8=,0=22=

3.61 1 .698 __ ___:::,8.:.,:79=.0=2::.:.2 __ ..:,1 ·=92=8::..0..:,3�2�8 __ 2o:..•,:::;56=2:...:.3�9=2

63,848,040 63,848,040 1 3,855,069 6,504,21 8 20,359,287 1 1 ,522,449 789, 1 1 9 1 2,31 1 ,568

Food service equipment ---=87�1�2=1=3 ------- _______ __ ___:::,87�1�2�1�3

Total capital assets being depreciated

Less Accumulated Depreciation for:

Buildings Improvements other than buildings Other equipment Food service equipment

Total accumulated depreciation

Net capital assets being depreciated

Net governmental activities capital assets

90.096,771 7.293.337 97.390.1 08

21 ,725,079 1 ,009,557 1 , 922,21 1 473,644 9,290,877 436,546

7 42.868 35.466

33.681 .035 1 .955,21 3

56,41 5.736 --=5.=3=38=.1.:..::2::....:,4 -----

22,734,636 2,395,855 9,727,423

778 334

35.636.248

61 .753.860

$ 60,027,434 $ 6,21 7.1 46 $ 1 .928,328 $ 64,31 6,252

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

Governmental Activities

Regular programs Operations and maintenance

Total depreciation expense - governmental activities

- 30 -

$

$

Depreciation

1 ,368,649 586 564

1 .955.2 1 3

CRYSTAL LAKE COM MUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 NOTES TO BASIC F INANCIAL STATEMENTS


NOTE 7 - 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, 2013:

Refunding bond, Series

Beginning Balance

2007 $ 1 2,21 0,000 $ Refunding bonds, Series 2009 1 2,31 0,000

1 3, 1 50,000 873,891

Additions

$

Deletions Ending Balance

1 ,225,000 $ 1 0,985,000 $

1 ,325,000

875,000 1 1 6,81 2

1 0,985,000

1 2,275,000 757,079

Due Within One Year

1 ,380,000

1 ,460,000

890,000 Build America bonds, Series 201 0 Premium on bonds Deferred amount on refunding (31 9.41 4) ----- -----l.(4�2:..,:.6�9=6) __ ...... (=27 ...... 6"""".7_.1=8) -----Total bonds payable

OPEB Obligation

Total long-term liabil ities -

38.224.477 3.499.1 1 6 34.725.361 3.331 .523 6 1 3 41 2 202.721 3.742.21 4

3.730.000

governmental activities $ 41 .556.000 $ 61 3.41 2 $ 3.701.837 $ 38.467.575 "'$--3� ..... 73�o,..oiioiio,_o

The OPEB obligation will be repaid from the General Fund.

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

Purpose

Series Taxable Debt Certificates Build America Bonds 201 0 dated June 1 , 201 0 are due in annual instal lments through December 1 , 2024

Series G.O. School Refunding Bonds, Series 2009 dated February 1 , 2009 are due in annual instal lments through February 1 , 201 9

Series G.O. School Bonds, Series 2007 dated February 1 , 2007 are due in annual instal lments through December 1 , 201 8

Total

Original Interest Rates Indebtedness

1 .31 0%-5.000% $ 1 5,000 ,000

3.000%-3.500% 1 3, 500,000

4.1 25%-5.000% 1 5,400,000

$ 4319001000

$

�

Carrying Amount

1 2,275,000

1 0,985,000

1 0,985,000

3412451000

In prior years, the District defeased certain general obligation and other bonds by placing the proceeds of new bonds in an irrevocable trust to provide for all future debt service payments on the old bonds. Accordingly, the trust account assets and the liability for the defeased bonds are not included in the District's financial statements. At June 30, 2013, $20,780,000 ofbonds outstanding are considered defeased.

- 31 -



NOTE 7 - LONG TERM LIABILITIES - (CONTINUED)

Annual debt service requirements to maturity for general obligation bonds are as follows for governmental type activities:

Princie_al Interest Total

201 4 $ 3,730,000 $ 1 ,432,454 $ 5,1 62,454 201 5 4,040,000 1 ,300,278 5,340,278 201 6 4,375,000 1 , 1 50,656 5,525,656 201 7 4,740,000 979, 1 86 5,71 9, 1 86 201 8 5 , 1 40,000 783,390 5,923,390 201 9 - 2023 9,865,000 1 ,575,91 6 1 1 ,440,9 1 6 2024 - 2025 2,355,000 1 77 500 2,532,500

Total $ 34,245,000 � 7,399,380 � 41,644,380

The District is subject to the Illinois School Code, which limits the amount of certain indebtedness to 6.9% of the most recent available equalized assessed valuation of the District. As of June 30, 2013 , the statutory debt limit for the District was $121 ,084, 184, providing a debt margin of$86,839, 1 84. There are numerous covenants with which the District must comply in regard to these bond issues . As of June 30, 2013 , the District was in compliance with all significant bond covenants, including federal arbitrage regulations.

NOTE 8 - 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, except employee health benefits, the District participates in the following public entity risk pools: Collective Liability Insurance Cooperative (CLIC) The District pays annual premiums to the pools for insurance coverage. The arrangements with the pools provide that each will be self-sustaining through member premiums and will reinsure through 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 $ 1 1 0,000 per employee as provided by stop-loss provisions incorporated in the plan.

- 32 -



NOTE 8 - RISK MANAGEMENT - {CONTINUED)

At June 30, 2013 , total unpaid claims, including an estimate of claims that have been incurred but not reported to the administrative agent, totaled $572,409. 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 the two years ended June 30, 2012 and June 30, 2013 , changes in the liability reported in the General Fund for unpaid claims are summarized as follows:

Fiscal Year 201 2

Fiscal Year 201 3

NOTE 9 - JOINT AGREEMENTS

Claims Payable Beginning of

Year

$

$

794.662 $

578.553 $

Current Year Claims and Changes in Estimates

3.278.31 6 $

3.369.877 $

Claims Payments

Claims Payable End of Year

3.494.425 =$ ===-57;,:;8=.5=5=3

3.376.021 =$===-57·2=.4=0=9

The Transportation Joint Agreement (Agreement) is a joint venture organized in August 1974 by the joint resolution of the District and Community High School District 1 55 for the primary purpose of providing transportation services to the two school districts. The cost of such services to each district is determined in accordance with the Agreement bylaws, with the qualification that assessments to the two districts shall not exceed actual cost. The agreement is silent as to the disposition of assets upon termination. As such, no equity interest has been recognized by the District.

An advisory board composed of two members from each district is responsible for operations. Administrative activities are handled by the District. Agreement employees are considered District employees for purposes of IMRF pension calculations and deductions and for participation in the Self Insurance Fund related to health care. The Agreements facilities are located on land owned by Community high School District 155 .

The financial statements for the Agreement can be obtained from the District's business office.

NOTE 1 0 - OTHER POST-EMPLOYMENT BENEFITS

Teachers' Health Insurance Secu rity

The District participates in the Teacher Health Insurance Security (THIS) Fund, a cost-sharing, multipleemployer defined benefit postemployment healthcare plan that was established by the Illinois legislature for the benefit of Illinois public school teachers employed outside the city of Chicago. The THIS Fund provides medical, prescription, and behavioral health benefits, but 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 .

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. Effective July 1 , 2012, in accordance with Executive Order 12-0 1 , the plan is administered by the Illinois Department of Central Management Services (CMS) with the cooperation ofTRS. Section 6.6 of the State Employees Group Insurance Act of 1971 requires all active contributors to TRS who are not employees of the state to make a contribution to THIS Fund.

- 33 -

CRYSTAL LAKE C O M M U N ITY CONSOLIDATED SCHOOL DISTRICT NO. 47 NOTES TO BASIC FINANCIAL STATEMENTS


NOTE 1 0 · OTHER POST-EMPLOYMENT BENEFITS · (CONTINUED)

The percentage of employer required contributions in the future will not exceed 105 percent of the percentage of salary actually required to be paid in the previous fiscal year.

On Behalf Contributions to THIS Fund. The State of Illinois makes employer retiree health insurance contributions on behalf of the District. State contributions are intended to match contributions to THIS Fund from active members which were 0.92 percent of pay during the year ended June 30, 2013 . State of Illinois contributions were $361 ,615 , 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, 2012 and June 30, 201 1 were 0 .88 percent of pay. For these years, state contributions on behalf of District employees were $348,753 and $361 ,035, respectively.

Employer Contributions to THIS Fund. The District also makes contributions to THIS Fund. The employer THIS Fund contribution was 0 .69 percent during the year ended June 30, 2013 and 0.66 percent during the years ended June 30, 2012 and 201 1 . For the years ended June 30, 2013, 2012 and 201 1 the District paid $27 1 ,212, $261 ,565 and $270,777 to the THIS Fund, respectively, which was 100 percent ofthe required contribution for those years .

The publicly available financial report of the THIS Fund may be found on the website of the Illinois Auditor General: http:/ /www. auditor.illinois .gov/ Audit-Reports/ ABC-List.asp. The 2013 report is listed under "Central Management Services. " Prior reports are available under "Healthcare and Family Services. "

Post Em ployment Healthcare Benefits

The District administers a single-employer defined benefit healthcare plan ("the Post Employment Healthcare Benefits"). The plan provides health insurance contributions for eligible retirees and their spouses through the District's group health insurance plan, which covers both active and retired members. Benefit provisions are established through collective bargaining agreements and state that eligible retirees and their spouses receive lifetime healthcare insurance at established contribution rates. The Post Employment Healthcare Benefits does not issue a publicly available financial report.

Contribution requirements are established through collective bargaining agreements and may be amended only through negotiations between the board and the union. 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 District contributes 100 percent of the current year premiums for eligible retired plan members and their spouses. For fiscal year 2013 , the District contributed $202,721 to the plan.

- 34 -



NOTE 1 0 · OTHER POST-EMPLOYMENT BENEFITS .. {CONTINUED)

The District's annual other postemployment benefit (OPEB) cost (expense) is calculated based on the annual required contribution of the employer (ARC), an amount actuarially determined in accordance with parameters of GASB Statement No. 45. The 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 Post Employment Healthcare Benefits, and changes in the District's net OPEB obligation to the Post Employment Healthcare Benefits:

Annual required contribution Interest on net OPEB obl igation 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 Obl igation (Asset) - End of Year

$

$

678,487 99,946

(1 65,021 )

61 3,41 2 (202,721 ) 41 0,691

3.331,523

3,742,21 4

The District's annual OPEB cost, the percentage of annual OPEB cost contributed to the Post Employment Healthcare Benefits, and the net OPEB obligation for June 30, 2013 and the preceding two years are as follows:

Percentage of Annual OPEB Net OPEB

Annual OPEB Cost Obligation Fiscal Year Ended Cost Contributed (Asset)

June 30, 201 3 $ 61 3,41 2 33.05 % $ 3,742 ,214 June 30, 201 2 806,497 23.99 % 3,331 ,523 June 30, 201 1 806,497 21 .79 % 2,71 8,496

The funded status of the Post Employment Healthcare Benefits as of July 1 , 2012, the most recent actuarial valuation date, is as follows:

Actuarial accrued liabil ity (AAL) $ 5,51 3,591 Actuarial value of plan assets

Unfunded Actuarial Accrued Liability (UAAL) $ 5,5 1 3,591

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

Covered payroll (active plan members) $ 46,348,808

UAAL as a percentage of covered payroll 1 1 .90%

- 35 -

CRYSTAL LAKE COM M U N ITY CON SOLI DATED SCHOOL DISTRICT NO. 47 NOTES TO BASIC FINANCIAL STATEMENTS


NOTE 1 0 - OTHER POST-EMPLOYMENT BENEFITS - (CONTINUED) Actuarial valuations of an ongoing plan involve estimates for the value of reported amounts and assumptions about the probability of occurrence of events far into the future. Examples include assumptions about future employment, mortality, and the healthcare cost trend. Amounts determined regarding the funded status of the plan and 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 of benefits for financial reporting purposes are based on the substantive plan (the plan is understood by the employer and plan members) and include the type ofbenefits 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 the actuarial value of assets, consistent with the long-term perspective ofthe calculations.

In the July 1 , 2012 actuarial valuation, the projected 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 7 .5 percent initially, reduced by decrements to an ultimate rate of 5 percent after ten years. The actuarial value of the Post Employment Healthcare Benefits assets was determined using techniques that spread the effects of short-term volatility in the market value of investments over a three-year period. The Post Employment Healthcare Benefits's unfunded actuarial accrued liability is being amortized as a level of percentage of projected payroll on an open basis . The remaining amortization period at June 30, 2013 is 30 years.

NOTE 1 1 - RETIREMENT SYSTEMS

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

Teachers' Reti rement System

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

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

- 36 -

CRYSTAL LAKE COM M U N ITY CONSOLIDATED SCHOOL DIST RICT NO. 47 NOTES TO BAS IC FINANCIAL STATEMENTS


NOTE 1 1 - 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, 2013 was 9.4 percent of creditable earnings. The same contribution rate applies to members whose first contributing service is on or after January 1 , 201 1 , 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, 2012 and 201 1 .

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, 2013 , State of Illinois contributions were based on 28.05 percent of creditable earnings not paid from federal funds, and the District recognized revenue and expenditures of $ 10,879,875 in pension contributions that the State of Illinois paid directly to TRS. For the years ended June 30, 2012 and 201 1 , the State of Illinois contributions rates as percentages of creditable earnings not paid from federal funds were 24.91 percent ($9,792,55 1 ) and 23 . 1 0 percent ($9,362,644), respectively.

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

2.2 Formula Contributions. For the years ended June 30, 2013 , 2012 and 201 1 , the District contributed 0.58 percent of creditable earnings for the 2.2 formula change. This rate is specified by statute. Contributions for those years were $227,975 , $229,867 and $237,935 , 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, 2013 , the employer pension contribution was 28.05 percent of salaries paid from federal and special trust funds. For the years ended June 30, 2012 and 201 1 , the employer pension contribution was 24.91 and 23. 10 percent of salaries paid from those funds, respectively. For the year ended June 30, 2013 , salaries totaling $518 ,588 were paid from federal and special trust funds that required employer contributions of$ 145,464, which was equal to the District's actual contribution. For the years ended June 30, 2012 and 201 1 , required District contributions were $79,544 and $ 1 14,534, respectively.

Early Retirement Option. The District is also required to make one-time employer contributions to TRS for members retiring under the Early Retirement Option (ERO). The payments vary depending on the age and salary of the member. The maximum employer ERO contribution is 1 1 7 .5 percent and applies when the member is age 55 at retirement. For the year ending June 30, 2013 , the District paid $63,5 1 5 to TRS for District contributions under the ERO program. For the year ended June 30, 2012, the District made no ERO contributions . For the year ended June 30, 201 1 , the District paid $86,992 in ERO contributions .

Further Information on TRS. 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, 2012. The report for the year ended June 30, 2013 , is expected to be available in late 2013 .

- 37 -



NOTE 1 1 • RETIREMENT SYSTEMS • (CONTINUED)

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 http:/ /trs.illinois.gov.

I l l i nois M unicipal Reti rement Fund

Plan Description. The District's defined benefit 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 affiliated with the illinois Municipal Retirement Fund (IMRF), an agent multiple-employer plan. Benefit provisions are established by statute and may only be changed by the General Assembly of the State of Illinois. IMRF issues a publicly available financial report that includes financial statements and required supplementary information. 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 finance the retirement coverage of its own employees. The District's contribution rate for calendar year 2012 was 1 1 . 1 1 percent of annual covered payroll. The employer annual required contribution rate for calendar year 2012 was 1 1 . 1 1 percent. The District also contributes for disability benefits, death benefits and supplemental retirement benefits, all of which are pooled at the IMRF level. Contribution rates for disability and death benefits are set by the IMRF Board of Trustees, while the supplemental retirement benefits rate is set by statute.

Annual Pension Cost and Net Pension Obligation. The District's annual pension cost and net pension obligation are as follows:

Annual required contribution Interest on net pension obl igation Adjustment to annual pension contribution Annual pension cost Contributions made Change in net pension obligation Net Pension Obligation - Beginning of Year Net Pension Obligation - End of Year

$ 1 ,474,892

1 ,474,892 (1 ,474,892)

1 73 603 $ 1 73,603

The liability for the IMRF net pension obligation is considered immaterial to the government-wide financial statements, and therefore, has not been recorded. The interest on the beginning net pension obligation and adjustment to the annual required contribution are considered immaterial and have not been included in the annual pension cost calculation.

The District's annual pension cost, percentage of annual pension cost contributed, and net pension obligation for for the current year and each of the two preceding years were as follows:

Fiscal Year Ended

June 30, 201 3 June 30, 201 2 June 30, 201 1

Percentage of Annual Pension

Annual Pension Cost

$

- 38 -

Cost Contributed

1 ,474,892 1 ,41 9,680 1 ,446,345

1 00 % $ 96 % 91 %

Net Pension Obligation

1 73,603 1 73,603 1 22,947



NOTE 1 1 - RETIREMENT SYSTEMS - (CONTINUED)

The required contribution for fiscal year 2013 was determined as part of the December 31 , 2010, actuarial valuation using the entry age actuarial cost method. The actuarial assumptions at December 3 1 , 2010, included (a) 7.50% investment rate of return (net of administrative and direct investment expenses), (b) projected salary increases of 4.00% a year, 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 benefit increases of 3% annually. The actuarial value of District plan assets was determined using techniques 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 District's unfunded actuarial accrued liability at December 3 1 , 2010 is being amortized as a level percentage of projected payroll on an open 30 year basis .

Funded Status and Funding Progress. As of December 3 1 , 2012, the most recent actuarial valuation date, the Regular plan was 75 .37 percent funded. The actuarial accrued liability for benefits was $30,594,054 and the actuarial value of assets was $23,057,873, resulting in an underfunded actuarial accrued liability (UAAL) of $7,536, 1 8 1 . The covered payroll for calendar year 2012 (annual payroll of active employees covered by the plan) was $13 ,275,35 1 and the ratio of the UAAL to the covered payroll was 56.77 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 is increasing or decreasing over time relative to the actuarial accrued liability for benefits .

NOTE 1 2 - CONSTRUCTION COMMITMENTS

As of June 30, 2013 , the District is committed to approximately $ 1 ,074,913 in expenditures in the upcoming years for various construction projects. These expenditures will be paid through the available fund balances and building bonds already issued.

NOTE 1 3 - 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 disallowance, if any, would be immaterial.

NOTE 1 4 - EFFECT OF NEW ACCOUNTING STANDARDS ON CURRENT-PERIOD FINANCIAL STATEMENTS

The Governmental Accounting Standards Board (GASB) has approved GASB Statement No. 65 , Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position; Statement No. 67, Financial Reporting for Pension Plans - an amendment ofGASB Statement No. 25; and Statement No. 68, Accounting and Financial Reporting/or Pensions - an amendment to GASB Statement No. 27. Application of these standards may restate portions of these financial statements .

- 39 -

THIS PAGE IS INTENT I ONALLY LEFT BLANK

C RYSTAL LAKE COMMUN ITY CONSOLIDATED SCHOOL DISTRICT NO. 47

ILLINOIS MUNICIPAL RETIREMENT FUND

Actuarial Valuation

Date

1 2/31 /1 2 1 2/31 /1 1 1 2/31 /1 0

Actuarial Valuation

Date

1 2/31 /1 2 1 2/31 /1 1 1 2/31 /1 0

SCHEDULE OF EMPLOYER'S CONTRIBUTIONS AND ANALYSIS OF FUNDING PROGRESS AS OF AND FOR THE YEAR ENDED JUNE 30, 201 3

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

$ 1 ,474,892 1 00% $ 1 73,603 1 ,41 9,680 96% 1 73,603 1 ,446,345 9 1 % 1 22,947

Actuarial UAAL as a Actuarial Value Accrued Liabi l ity 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}

$ 23,057,873 $ 30,594,054 $ 7,536, 1 81 75.37% $ 1 3,275,351 56.77% 21 ,934,438 28,998,596 7,064, 1 58 75.64% 1 2,988,842 54.39% 21 ,897,905 28,661 , 1 09 6,763,204 76.40% 1 3,81 4, 1 79 48.96%

See Auditors' Report and Notes to Required Supplementary Information

- 40 -

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 SCHEDULE OF FUNDING PROGRESS FOR POST EMPLOYMENT HEAL THCARE BENEFITS

JUNE 30. 201 3

Actuarial UAAL as a Actuarial Actuarial Value Accrued Liabil ity Unfunded AAL Percentage of Valuation of Assets (AAL) Entry Age (UAAL) Funded Ratio Covered Payroll Covered Payrol l

Date {a} {b} {b-a} {alb} {c} {{b-a}/c}

7/1 / 12 $ $ 5,51 3,591 $ 5,51 3 ,591 N/A $ 46,348,808 1 1 .90% 7/1 /1 0 5,852,780 5,852,780 N/A 48,1 80,303 1 2 . 1 5%

Valuations must be performed every two years for OPES plans with more than 200 members and at least every three years for plans with fewer than 200 members.


- 41 -

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47

GENERAL FUND SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET TO ACTUAL - NON

GAAP BUDGETARY BASIS FOR THE YEAR ENDED JUNE 30, 201 3

WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 30, 2012

Revenues

Local sources

ORIGINAL AND FINAL BUDGET

General levy $ 51 , 1 62 , 1 25 Tort immunity levy Special education levy Corporate personal property replacement taxes Special education - tuition from other LEA's (in

state) I nvestment income Sales to pupils - lunch Sales to pupils - breakfast Sales to adults Other food service Fees Rentals - regular textbook Payment from other LEA's Other

Total local sources

State sources

General state aid Special education - private facil ity tuition Special education - extraordinary Special education - personnel Special education - orphanage - individual Special education - orphanage - summer Special education - summer school Bilingual education - downstate - TPI State free lunch & breakfast Other restricted revenue from state sources

Total state sources

Federal sources

National school lunch program School breakfast program Food service - other Title I - Low income Title IV - Safe & drug free schools - formula Federal - special education - preschool flow-

through Federal - special education - IDEA - flow

through/low incident Federal - special education - IDEA - room &

board IDEA - part b - preschool I DEA - part b - flow-through

973,335 426,678 532 ,416

50,000 359, 1 80 865,646

2 ,948 40, 1 03

9, 1 34 1 67,729 455,900

60.000

55,1 05,1 94

2 ,904,707 391 ,272

1 ,0 1 9,579 2, 1 1 5,205

1 30 ,361 937

1 0,874 260,452

1 7,500

6,850,887

720,000 60,000

628, 1 16

85,463

1 , 565,226

$

201 3

ACTUAL

51 , 1 85,243 973,61 8 41 8,768 552,000

334,501 688,437

4,489 35,01 7

2,029 1 60,342 391 ,602

1 94,233

54,940,279

2,91 7,626 458,878

1 , 300,869 2 ,656,364

56,472 506

1 2,922 1 80,766

1 9,022 49 044

7,652,469

771 ,859 69, 1 82

1 1 3,586 752,5 1 4

91 ,81 1

1 ,636,71 3

49,929

VARIANCE WITH F I NAL BUDGET

$ 23, 1 1 8 283

(7,9 10) 1 9,584

(50,000) (24,679)

( 1 77,209) 1 ,541

(5,086) (7, 1 05) (7,387)

(64,298)

1 34,233

(164,915)

1 2,919 67,606

281 ,290 541 , 1 59 (73,889)

(43 1 ) 2 ,048

(79,686) 1 , 522

49 044

801,582

51 ,859 9, 1 82

1 1 3,586 1 24 ,398

6,348

71 ,487

49,929


- 42 -

$

201 2 ACTUAL

50,230,836 955 ,522 4 1 4, 1 76 540,253

48, 1 06 406,859 875,5 1 5

2,954 40,587 1 0,822

16 1 ,991 434,752

5,962 1 02 0 1 7

54,230,352

3, 1 07 , 1 83 4 1 2,488

1 , 1 23,6 1 9 2 , 1 83,342

1 26 ,629 937

1 0,874 309,001

24,794 9 329

7,308,1 96

695,688 26,249 73,024

422,0 19 ( 1 ,403)

90,265

1 ,456,359

66,678 (2,499)

249,0 1 3

(Continued)

C RYSTAL LAKE COMMUNI TY CONSOLIDATED SCHOOL DISTRICT NO. 47 GENERAL FUND

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

FOR THE YEAR ENDED JUNE 30, 201 3 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 30, 2012

201 3 201 2

ORIGINAL AND VARIANCE WITH ACTUAL FINAL BUDGET ACTUAL FINAL BUDGET AS RESTATED

ARRA Education jobs fund grant $ $ $ $ 7, 034 Emergency immigrant assistance 9,5 10 (9,51 0) ( 1 1 ,885) Title I l l - English language acquisition 79,500 1 53,392 73,892 1 8,735 Title I I - Teacher qual ity 146, 1 93 1 68,580 22,387 85,621 Medicaid matching funds - administrative

outreach 1 80,000 23,237 (1 56,763) 79,403 Medicaid matching funds - fee-for-service

program 1 1 0,000 55,669 (54,33 1 ) 87, 1 70 Other restricted revenue from federal sources 1 2 1 3 (1,2 1 3) (1,065)

Total federal sources 3,585,221 3,886,472 301,251 3,340,406

Total revenues 65,541,302 66,479,220 937,918 64,878,954

Expenditures

Instruction

Regular programs Salaries 24,650,581 24,540,050 1 1 0,531 24,984,31 1 Employee benefits 3,342,904 3,3 1 5, 1 82 27,722 3,420,455 Purchased services 96,076 65,980 30,096 72,631 Supplies and materials 1 ,281 ,768 1 , 1 1 2,21 0 1 69,558 962,375 Capital outlay 79, 1 51 92,253 ( 1 3, 1 02) 1 1 5 , 1 1 3 Other objects 6 500 6 074 426 5 928

Total 29,456,980 29.1 31,749 325,231 29,560,81 3

Special education programs Salaries 7,05 1 , 059 7, 1 52,970 ( 10 1 ,91 1 ) 7 ,01 7,276 Employee benefits 753,256 820,078 (66,822) 774, 160 Purchased services 48,775 49,804 (1 ,029) 73,537 Suppl ies and materials 63,507 164,973 ( 1 01 ,466) 1 70,307 Capital outlay 20,000 1 9,973 27 161 ,359 Other objects 3 000 2 676 324 1 781

Total 7,939,597 8 2 1 0 474 (270,877) 8,1 98,420

Special education programs Pre-K Salaries 2, 1 04,861 2 ,048,099 56,762 2,089,358 Employee benefits 233,22 1 241 ,930 (8,709) 239, 1 1 5 Purchased services 1 0,269 1 0,269 Supplies and materials 1 0,000 1 1 ,879 (1 ,879) 1 1 ' 1 38 Capital outlay (2,499)

Total 2 .358,351 2 .301,908 56 443 2.337,1 1 2

See Auditors' Report and Notes to Requ ired Supplementary Information (Continued)

- 43 -

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 GENERAL FUND

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

FOR THE YEAR ENDED JUNE 30, 201 3 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 30, 201 2

ORIGINAL AND FI NAL BUDGET

Remedial and supplemental programs K-1 2 Salaries $ 251 , 1 30 $ Employee benefits 43,741 Purchased services Supplies and materials 33 859

Total 328,730

Interscholastic programs Salaries 265,000 Employee benefits 3,245 Purchased services 1 6 ,992 Supplies and materials 1 4,250 Other objects 1 200

Total 300 687

Summer school programs Salaries 85,058 Employee benefits 1 ,7 1 0 Supplies and materials 1 000

Total 87 768

Gifted programs Salaries 540,000 Employee benefits 63,680 Purchased services 1 , 354 Supplies and materials 7, 1 25 Other objects

Total 6 1 2 1 59

Bilingua! programs Salaries 1 ,736,331 Employee benefits 243,705 Purchased services 38,091 Supplies and materials 1 8 5 10

Total 2.036,637

201 3

ACTUAL

1 83,095 51 ,858

3,91 0 68,666

307,529

264,996 4,709

1 2,947 1 3, 735

1 200

297 587

1 1 1 ,852 1 ,446

44

1 1 3 342

466,772 59,246

302 7,687

534 007

1 ,351 ,286 21 3,072

28,960 26,1 32

1,61 9,450

VARIANCE WITH FINAL BUDGET

$ 68,035 (8, 1 1 7) (3,91 0)

(34,807)

21 201

4 (1 ,464) 4,045

5 1 5

3 1 00

(26,794) 264 956

(25,574)

73,228 4,434 1 ,052 (562)

78 1 52

385,045 30,633

9, 1 31 (7,622)

4 1 7 1 87


- 44 -

$

201 2 ACTUAL

AS RESTATED

1 74,541 44,909

22,5 1 8

241,968

264,350 3,993

1 1 ,754 1 2 ,068

1 200

293,365

85,023 1 ,942

86 965

536,642 65, 1 99

1 ' 1 1 7 5, 1 09

2 10

608,277

1 ,51 3,976 207,462

1 0 ,590 85,808

1 .8 17,836

(Continued)

CRYSTAL LAKE COMMU NITY CONSOLIDATED SCHOOL DISTRICT NO. 47

GENERAL FUND SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET TO ACTUAL - NON-


WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 30, 201 2 201 3

ORIGINAL AND VARIANCE WITH FI NAL BUDGET ACTUAL FI NAL BUDGET

Truant's alternative and optional programs Supplies and materials § � 5,370 � (5,370)

Total 5 370 (5,370)

Pre-K programs - private tuition Other objects 486 878 486,878

Total 486 878 486 878

Special education programs K-1 2 -private tuition Other objects 530.050 (530,050)

Total 530,050 (530,050)

Total instruction 43,607,787 43,051,466 556,321

Support services

Pupils

Attendance and social work services Salaries 947,558 1 ,001 ,906 (54,348) Employee benefits 1 14,269 1 25,668 ( 1 1 ,399) Purchased services 7,005 6 ,7 15 290 Suppl ies and materials 3 147 1 587 1 560

Total 1 071 979 1,1 35,876 (63,897)

Health services Salaries 660,950 628,654 32,296 Employee benefits 1 04,279 1 1 2 ,502 (8,223) Purchased services 4,400 2 ,077 2 ,323 Supplies and materials 1 4,818 4 ,849 9,969 Capital outlay 4 000 4 000

Total 788 447 748 082 40 365

Psychological services Salaries 782 , 1 00 848,392 (66,292) Employee benefits 92,01 9 1 06,042 (1 4,023) Purchased services 1 ,700 925 775 Supplies and materials 9,000 3, 746 5,254 Capital outlay 3 200 676 2 524

Total 888,01 9 959 781 (71,762)


- 45 -

§

201 2 ACTUAL

AS RESTATED

1,006

1 006

691,862

691,862

43,837,624

940,270 1 23,686

6,586 2 888

1 ,073,430

652,901 1 06, 1 26

2 ,460 7, 1 03 3 877

772 467

779,962 94,225

1 ,635 4,037 1 31 1

881 1 70

(Continued)


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

FOR THE YEAR ENDED JUNE 30 , 201 3 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 301 201 2

201 3 201 2

ORIGI NAL AND VARIANCE WITH ACTUAL FINAL BUDGET ACTUAL FI NAL BUDGET AS RESTATED

Speech pathology and audiology services Salaries $ 752,450 $ 790,9 1 5 $ (38,465) $ 706, 1 86 Employee benefits 1 04,030 1 22,669 (1 8,639) 1 06,028 Purchased services 40,683 3,955 36,728 39,324 Supplies and materials 9 359 8 242 1 1 1 7 7 434

Total 906,522 925,781 (1 9,259) 858,972

Other support services - pupils Salaries 1 1 ,500 8,800 2 ,700 9 ,31 8 Employee benefits 30 73 (43) 57 Purchased services 4,000 729 3,271 3 ,516 Supplies and materials 2.674

Total 1 5 530 9 602 5,928 1 5 565

Total pupils 3,670,497 3.779,122 (1 08,625) 3,601,604

Instructional staff

Improvement of instructional services Salaries 754,7 1 0 779, 1 90 (24,480) 624,3 1 0 Employee benefits 355,049 260,739 94,310 330,3 1 3 Purchased services 302,499 21 5,780 86,71 9 1 90, 1 38 Supplies and materials 68,442 1 30,3 1 5 (61 ,873) 1 09,51 5 Capital outlay 2,750 2 ,750 Other objects 1 500 2 294 (794) 653

Total 1 484 950 1,388,31 8 96,632 1,254,929

Educational media services Salaries 1 ,085,61 0 1 , 1 35,925 (50,3 1 5) 1 , 074,440 Employee benefits 89,276 95,645 (6,369) 92 ,316 Purchased services 3,058 (3,058) 1 0,740 Supplies and materials 59,603 75,357 ( 1 5,754) 66,827 Capital outlay 2 343 2 343 3 396

Total 1,236,832 1,309,985 (73, 1 53) 1 247 719

Assessment and testing Salaries 8,000 1 1 ,372 (3,372) 7,545 Employee benefits 64 1 1 5 (51 ) 85 Purchased services 95, 1 1 9 91 ,41 9 3,700 (350) Suppl ies and materials 35 000 35 865 (865) 33 730

Total 1 38 1 83 1 38 771 (588) 41 0 1 0

Total instructional staff 2,859,965 2,837,074 22,891 2,543,658

See Auditors' Report and Notes to Required Supplementary I nformation (Continued)

- 46 -




201 3 201 2

ORIGINAL AND VAR IANCE WITH ACTUAL FINAL BUDGET ACTUAL F I NAL BUDGET AS RESTATED

General administration

Board of education services Purchased services $ 280,502 $ 21 8,438 $ 62,064 $ 242,436 Supplies and materials 5,691 4,897 794 1 ,81 1 Other objects 23,500 1 6 975 6,525 22. 1 1 8

Total 309,693 240 3 10 69,383 266,365

Executive administration services Salaries 225,521 251 ,770 (26,249) 226,793 Employee benefits 35,728 35,372 356 36, 353 Purchased services 252,000 221 ,699 30,301 264,350 Supplies and materials 2,500 2,243 257 2 ,462 Capital outlay 1 ,498 1 ,498 Other objects 4 000 5 1 1 1 (1,1 1 1 ) 3 640

Total 521 247 51 6,1 95 5,052 533,598

Special area administration services Salaries 6,321 4,000 2 ,321 5,500 Employee benefits 1 657 1 1 93 464 1 454

Total 7 978 5 1 93 2 785 6 954

Tort immunity services Purchased services 950,000 1,034,924 (84,924) 875,206

Total 950,000 1,034,924 (84,924) 875,206

Total general administration 1 ,788,91 8 1,796,622 (7,704) 1 ,682,1 23

School administration

Office of the principal services Salaries 3,039,449 3 ,01 2,382 27,067 3,030,748 Employee benefits 688,725 686,277 2,448 696,961 Purchased services 1 0,940 4, 1 72 6 ,768 3,745 Supplies and materials 6,670 4,602 2,068 4,837 Capital outlay 1 ,500 1 , 1 36 364 Other objects 1 5 750 1 1 1 72 4 578 1 0 060

Total 3,763,034 3 7 1 9 741 43 293 3 746 351

Total school administration 3,763,034 3 7 1 9 741 43 293 3 746 351

See Auditors' Report and Notes to Required Supplementary Information (Continued)

- 47 -

C RYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 GENERAL FUND




Business

Direction of business support services Salaries $ 1 35,000 $ Employee benefits 26,863 Purchased services 26,000 Supplies and materials 20,760 Capital outlay 2,000 Other objects 6 500

Total 2 1 7 1 23

Fiscal services Salaries 270,000 Employee benefits 56,21 4 Purchased services Other objects 1 5

Total 326,229

Operation and maintenance of plant services Salaries 14 1 ,064 Employee benefits 32,969 Purchased services 22,400 Supplies and materials 5,000 Capital outlay 1 ,300 Other objects 900

Total 203,633

Pupil transportation services Purchased services 52,267

Total 52,267

Food services Salaries 30,000 Employee benefits 30,020 Purchased services 1 ,407 ,049 Supplies and materials 1 5,000 Capital outlay 20,000 Other objects 1 500

Total 1 . 503,569

201 3

ACTUAL

209, 1 1 6 46, 1 1 1 25,798

8,2 1 8 1 ,054 4 778

295 075

1 9 1 , 1 6 1 34,551

400 7

226,1 1 9

1 35,42 1 33,936

5,223 2 ,576

1 551

1 78.707

25 344

25 344

36,038 1 2,242

1 ,295,5 1 7 1 30,386

7 , 1 74 1 860

1 483 2 1 7


$ (74, 1 1 6) ( 1 9,248)

202 1 2 ,542

946 1 722

(77,952}

78,839 21 ,663

(400} 8

1 00 1 1 0

5 ,643 (967)

1 7, 1 77 2,424 1 ,300 (651 }

24 926

26,923

26,923

(6,038) 1 7,778

1 1 1 ,532 ( 1 1 5, 386)

1 2 ,826 (360)

20 352


- 48 -

201 2 ACTUAL

AS RESTATED

$ 1 50,230 28,853

7,426 7,949 8,371 3 345

206 1 74

285,200 56,639

14

341,853

1 39,898 33,365 20, 395

2 ,783

672

1 97 1 1 3

60,898

60,898

1 1 6 ,619 30,350

1 ,330,288 87,646 29,679

1 860

1,596,442

(Continued)

C RYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47



WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 301 20 1 2

Internal services Salaries Employee benefits Purchased services Supplies and materials Capital outlay

Total

Total business

Central

Information services Purchased services Supplies and materials

Total

Staff services Salaries Employee benefits Purchased services Supplies and materials Capital outlay Other objects

Total

Data processing services Salaries Employee benefits Purchased services Supplies and materials Capital outlay Other objects

Total

Total central

Other supporting services Employee benefits Purchased services Supplies and materials

Total

Total support services

ORI G I NAL AND FI NAL BUDGET

$ 1 56,508 24,724 29,020 50,000 1 5 1 00

275,352

2,578,1 73

2,000 2 000

4 000

284,606 58,708 46 ,000 1 5,000 4,000

40 000

448 314

736,459 1 40,294 608,780 308,064 325,000

1 500

2,1 20,097

2,572,41 1

52 ,267 500

52 767

1 7,285,765

201 3

VAR IANCE WITH ACTUAL FI NAL BUDGET

$ 1 82 ,322 $ (25 ,814) 25,857 ( 1 , 1 33) 25,677 3,343 49,522 478 29,595 (14,495)

31 2,973 (37,621 )

2,521,435 56 738

2,000 2 000

4 000

272,81 5 1 1 ,791 63,950 (5,242) 35,252 1 0,748

8,923 6 ,077 4,000

38 723 1 277

4 1 9 66_3 28,651

726,21 5 1 0,244 141 ,654 (1 ,360) 533,665 75, 1 1 5 368,729 (60,665) 308,822 1 6, 1 78

1 497 3

2,080,582 39 5 1 5

2,500,245 72 1 66

202,7 1 2 (202 ,712) 4 1 ,041 1 1 ,226

1 69 331

243,922 (1 91.1 55)

1 7,398,16 1 (1 1 2,396)


- 49 -

201 2 ACTUAL

AS RESTATED

$ 1 54,3 1 0 25, 1 61 22,597 47,506

249 574

2,652,054

1 ,400 1 66

1 566

264,531 59,456 42,578 1 1 ' 1 91

38 957

4 1 6 7 1 3

733,882 1 42,371 52 1 ,693

95,331 508,722

1 081

2 .003,080

2,421,359

30,283 79

30,362

1 6,677,51 1

(Continued)

C RYSTAL LAKE COM MUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47



WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 301 201 2 20 1 3

20 1 2 ORIGI NAL AND VARIANCE W ITH ACTUAL F I NAL BUDGET ACTUAL F INAL BUDGET AS RESTATED

Community services

Salaries $ 6,200 $ 3,294 $ 2,906 $ 3,599 Employee benefits 1 ,870 981 889 563 Purchased services 20,385 8,846 1 1 ,539 1 0, 1 68 Suppl ies and materials 3 51 6 1 9 1 50 (1 5,634) 7 023

Total community services 31 971 32 271 {300) 21,353

Payments to other districts and governmental units

Payments for regular programs Purchased services 1 ,527,871 1,493,330 34 541 1,446,955

Total 1 ,527,871 1 ,493,330 34 541 1,446,955

Payments for special education programs Purchased services 1 ,060,000 634,678 425,322 1 ,057,395 Other objects 1 ,61 3,1 29 1,650,006 (36,877) 1 ,636,256

Total 2,673,1 29 2,284,684 388,445 2,693,651

Total payments to other districts and governmental units 4,201,000 3 778 0 1 4 422,986 4,1 40,606

Total expenditures 65,1 26,523 64,259,9 1 2 866,61 1 64,677,094

Excess (deficiency) of revenues over expend itures 4 1 4 779 2,21 9,308 1,804,529 201,860

Other financing sources (uses)

Permanent transfer from working cash accounts - abolishment or abatement ( 1 23,41 5)

Permanent transfer from working cash accounts - interest ( 1 06 , 1 85) (1 06, 1 85)

Transfer to debt service fund to pay principal on revenue bonds (1,236,670) (1,236,670) (1,236,734)

Total other financing sources (uses) (1,342,855) (1,342,855) (1,360,1 49)

Net change in fund balance � 41 4l79 876,453 � 4611674 (1 1 1 58,289)

Fund balance, beginning of year 38,235,496 39,393,785

Fund balance, end of year m 3911 1 11949 � 38,2351496


- 50 -


OPERATIONS AND MAINTENANCE FUND SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET TO ACTUAL


Revenues

Local sources

ORI G I NAL AND FINAL BUDGET

General levy $ 6,400, 1 58 $ 1 69,899 Corporate personal property replacement taxes

Investment income Rentals Payment from other LEA's Other local fees Other

Total local sources

State sources

General state aid

Total state sources

Total revenues

Expenditures

Support services

Business

Faci l ities acquisition and construction service Purchased services Supplies and materials Capital outlay

Total

Operation and maintenance of plant services Salaries Employee benefits Purchased services Supplies and materials Capital outlay

Total

35,000 6,500

1 00,000 900

6.71 2.457

750 000

7,462.457

400 000

400 000

2,845,285 464,082 91 2, 1 96

1 , 51 3,292 1 1 3 1 32

5,847,987

201 3

ACTUAL VARIANCE WITH

FI NAL BUDGET

6,402,063 $ 21 6,571

1 ,905 $ 46,672

8,91 1 9,047 5,424

8,91 1 44,047 1 1 ,924 78, 1 54 53 31 1

6.81 4,981

750,000

750,000

7.564,981

90,372 45,679

947 3 1 6

1 ,083.367

2,933,799 467, 1 29 954, 1 27

1 ,405,927 21 4 1 1 6

5.975,098

(21 ,846) 52 41 1

1 02.524

1 02.524

(90,372) (45,679)

(547,31 6)

(683.367)

(88,51 4) (3,047)

(41 ,931 ) 1 07,365

(1 00.984}

(1 27,1 1 1 }


- 51 -

20 1 2 ACTUAL

6,283,043 21 1 ,962

1 2,055 33,869

6,272 1 73,926

30 444

6.751.571

750.000

750 000

7 501 571

38

697.868

697,906

2,843,588 464,082

1 ,004,548 1 ,435, 3 1 9

88 846

5. 836,383

CRYSTAL LAKE COMMUNITY CONSOLI DATED SCHOOL DISTRICT NO. 47 OPERATIONS AND MAINTENANCE FUND

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET TO ACTUAL FOR THE YEAR ENDED JUNE 30, 201 3

WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED J UNE 30, 201 2 20 1 3

ORIGI NAL AND VARIANCE W ITH 201 2 F I NAL BUDGET ACTUAL FINAL BUDGET ACTUAL

Pupil transportation services Purchased services $ 25,000 $ 23, 1 02 $ 1 ,898 $ 27,328 Supplies and materials 49,000 45,639 3,361 51 ,591 Capital outlay 1 696 (1,696)

Total 74 000 70 437 3 563 78 9 1 9

Total business 6,321,987 7,1 28,902 (�06,91 5) 6,61 3,208

Total support services 6,321,987 7,1 28,902 (806,91 5) 6,61 3,208

Total expenditures 6,321,987 7,1 28,902 (806,91 5) 6,61 3,208

Excess (deficiency) of revenues over expenditures 1 1 40 470 436,079 (704,391 ) 888,363


Permanent transfer from working cash accounts - abol ishment or abatement 1 23,41 5

Permanent transfer from working cash accounts - interest 1 06, 1 85 1 06 , 1 85

Permanent transfer of interest 26, 1 51 26,1 51 1 2,966 Transfer to debt service fund to pay principal

on revenue bonds (1 85,867) Transfer to capital projects fund (1,372,000) (1,372,000)

Total other financing sources (uses) (1,239,664) (1,239,664) (49,486}

Net change in fund balance � 111 401470 (803,585} $ (119441055) 838,877

Fund balance, beginning of year 1,733,289 894,41 2

Fund balance, end of year � 929?04 � 117331289


- 52 -

C RYSTAL LAKE COM M U N ITY CONSOLI DATED SCHOOL DISTRICT NO. 47

TRANSPORTATION FUND SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET TO ACTUAL


201 3 ORIGI NAL AND VARIANCE W ITH 2012 F I NAL BUDGET ACTUAL FINAL BUDGET ACTUAL

Revenues

Local sources

General levy $ 1 ,505,232 $ 1 ,505,659 $ 427 $ 1 ,477,667 Corporate personal property replacement taxes 31 ,409 40,036 8,627 39, 1 84 Regular transportation fees from pupils or

parents ( in state) 1 ,000 8 1 0 ( 1 90) 1 ,070 Regular transportation fees from co-curricular

act (in state) 20,000 1 8,971 { 1 ,029) 1 9,537 I nvestment income 1 7 860 1 25.331 1 07 471 28,993

Total local sources 1,575,501 1,690,807 1 1 5,306 1 ,566,451

State sources

Transportation - regular/vocational 848, 1 47 1 ,099,081 250,934 858, 1 89 Transportation - special education 1.1 24,750 1,670,1 05 545.355 1,201,899

Total state sources 1,972,897 2,769,1 86 796,289 2,060,088

Total revenues 3,548,398 4,459,993 91 1 595 3,626,539

Expenditures

Support Services

Business

Pupil transportation services Salaries 2 ,784,931 2,508,352 276,579 2,752,470 Employee benefits 228,787 247,495 (1 8,708) 209,799 Purchased services 21 0,856 224,691 ( 1 3,835) 1 47,960 Supplies and materials 652,850 681 ,034 (28,1 84) 646,782 Capital outlay 252,500 254,430 (1 ,930) 252,395 Other objects 9 625 7 785 1 840 7 346

Total 4,1 39,549 3,923,787 21 5,762 4,01 6,752

Total business 4,1 39,549 3,923,787 21 5,762 4,01 6,752

Total support services 4,1 39,549 3.923,787 2 1 5,762 4,01 6,752


- 53 -


TRANSPORTATION FUND SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET TO ACTUAL

FOR THE YEAR ENDED JUNE 30, 201 3 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED J UNE 30, 201 2

20 1 3 ORIGI NAL AND VARIANCE WITH 20 1 2 F I NAL BUDGET ACTUAL FI NAL BUDGET ACTUAL

Payments to other districts and government units

Payments for special education programs Purchased services � 7,900 � 1 0,747 � (2,847) � 8,048

Total 7 900 1 0 747 (2,847) 8 048

Total payments to other districts and government units 7 900 1 0 747 (2,847) 8 048

Total expenditures 4 1 47 449 3.934.534 2 1 2,91 5 4,024,800

Net change in fund balance � (599,051 ) 525,459 � 1 11 24,5 1 0 (398,261 )

Fund balance, beginning of year 8,054,844 8,453,1 05

Fund balance, end of year � 8,580,303 § 8,054,844

See Auditors' Report and Notes to Required Supplementary I nformation

- 54 -


MUNICIPAL RETIREMENT/SOCIAL SECURITY FUND SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET TO ACTUAL

FOR THE YEAR ENDED J UNE 30, 201 3 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 30, 201 2

201 3 ORIGI NAL AND VARIANCE W ITH 20 1 2 FI NAL BUDGET ACTUAL FI NAL BUDGET ACTUAL

Revenues

Local sources

General levy $ 1 , 1 31 ,689 $ 1 , 1 63,563 $ 31 ,874 $ 1 ' 1 29,452 Social security/medicare only levy 1 ,667,967 1 ,636,946 (31 ,021 ) 1 ,61 9,01 0 Corporate personal property replacement taxes 21 ,377 27,249 5,872 26,669 Investment income 2 366 1 71 0 (656) 4 865

Total local sources 2,823,399 2,829,468 6 069 2,779,996

Total revenues 2,823,399 2,829,468 6 069 2,779,996

Expenditures

Instruction

Regular programs 376, 1 06 382,256 (6, 1 50) 375,91 9 Special education programs 520,557 521 , 1 59 (602) 51 1 ,368 Special education programs Pre-K 83,507 83,562 (55) 82,243 Remedial and supplemental programs K - 1 2 7,264 7,908 (644) 6, 1 90 I nterscholastic programs 4, 1 91 4,072 1 1 9 4, 1 81 Summer school programs 6,485 8,342 (1 ,857) 6 , 1 71 Gifted programs 7,379 6,51 5 864 7,379 Bil ingual programs 77 555 66,553 1 1 002 84 1 1 9

Total instruction 1,083,044 1,080,367 2 677 1 077 570

Support services

Pupils

Attendance and social work services 1 2,977 1 4,304 (1 ,327) 1 3,41 5 Health services 76,079 73,505 2,574 74,571 Psychological services 1 1 ,91 7 1 2,244 (327) 1 1 ,9 1 7 Speech pathology and aud iology services 1 7,856 1 9, 1 41 (1 ,285) 1 7,669 Other support services - pupils 1 1 01 1 297 (1 96) 1 340

Total pupils 1 1 9 930 1 20 491 (561 ) 1 1 8 9 12

Instructional staff

I mprovement of instructional staff 27,229 30,21 1 (2,982) 28,646 Educational media services 66,959 75,609 (8,650) 65,801 Assessment and testing 51 7 909 (392) 51 1

Total instructional staff 94 705 1 06,729 (1 2,024) 94 958


Executive administration services 1 1 ' 1 97 1 1 ,634 (437) 1 1 ,01 9 Special area administration services 58 (58) 79

Total general administration 1 1 1 97 1 1 692 (495) 1 1 098


- 55 -

CRYSTAL LAKE COM M U N ITY CON SOLIDATED SCHOOL DISTRICT NO. 47

MUNICIPAL RETIREMENT/SOCIAL SECURITY FUND SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET TO ACTUAL

FOR THE YEAR ENDED J UNE 30, 201 3 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 30, 201 2

201 3 ORIGI NAL AN D VARIANCE WITH 201 2 F I NAL BUDGET ACTUAL FI NAL BUDGET ACTUAL


Office of the principal services � 1 46,559 � 1 46,034 � 525 � 1 44,271

Total school adm inistration 1 46 559 1 46 034 525 1 44 271

Business

Direction of business support services 2 ,350 39,238 (36,888) 2,350 Fiscal services 53,358 35,551 1 7,807 52,244 Operations and maintenance of plant

services 549,870 577,840 (27,970) 538,588 Pupil transportation services 51 4,651 474,784 39,867 503,889 Food services 20,61 3 5,970 1 4,643 20, 1 55 Internal services 28 371 31 330 (2,959) 27.798

Total business 1,1 69,21 3 1 1 64 71 3 4 500 1,1 45,024

Central

Staff services 31 ,239 32,952 (1 ,71 3) 30,61 1 Data processing services 1 37 097 1 35,503 1 .594 1 34 244

Total central 1 68,336 1 68 455 (1 1 9) 1 64,855

Total support services 1 ,709,940 1 71 8 1 1 4 (8,1 74) 1 ,679,1 1 8

Community services 46 (46) 52

Payments to other d istricts and government units

Payments for special education programs 1 0 1 0

Total payments to other districts and government units 1 0 1 0

Total expenditures 2,792,994 2,798.527 (5,533) 2,756,740

Net change in fund balance � 30,405 30,941 � 536 23,256

Fund balance, beginning of year 727 0 1 8 703,762

Fund balance, end of year � 757,959 � 727,018


- 56 -

T HIS PA G E I S I N T E N TIONALLY LEFT BLA N K

CRYSTAL LAKE COM M U N ITY CONSOI.-IDATED SCHOOL DISTRICT NO. 47 NOTES TO REQUIRED SUPPLEMENTARY INFORMATION


STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY

Budgetary Data

Except for the exclusion of on-behalf payments from other governments, 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 :

1 . The Administration submits to the Board of Education a proposed operating budget for the fiscal year commencing July 1 . The operating budget includes proposed expenditures and the means of financing them.

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 o f a resolution. B y 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 Reconci l iations

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:

Revenues Exe.enditures

General Fund Budgetary Basis $ 66,479,220 $ 64,259,91 2 To adjust for on-behalf payments received 1 1 ,241 ,490 To adjust for on-behalf payments made 1 1 241 490

General Fund GAAP Basis $ 77,720,71 0 � 75,501,402

Excess of Expenditures over Budget

For the year ended June 30, 2013, expenditures exceeded budget in the Operations and Maintenance Fund and the Municipal Retriement I Social Security Fund by $806,915 and $5,553, respectively. These excesses were funded by available fund balances .

See Auditor's Report

- 57 -

THIS PAGE I S INTENTIONALLY LEFT BLA N K


DEBT SERVICE FUND SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES I N FUND BALANCES - BUDGET TO ACTUAL


20 1 3 ORIGI NAL AND VARIANCE W ITH 201 2 FI NAL BUDGET ACTUAL FINAL BU DGET ACTUAL

Revenues

Local sources

General levy $ 31538,500 $ 3,534,248 $ (4,252) $ 3,354,452 Investment income 4 505 33 1 78 28 673 5 922

Total local sources 3,543,005 3,567,426 24.421 3,360,374

Federal sources

Build America bond interest reimbursements 1 97 455 1 94 61 6 {2.839) 200,1 65

Total federal sources 1 97 455 1 94 61 6 {2,839) 200,1 65

Total revenues 3,740,460 3,762,042 21 582 3,560,539

Expenditures

Debt services

Payments on long term debt I nterest on long term debt 1 ,544,91 5 1 ,544,9 1 6 ( 1 ) 1 ,641 ,474 Principal payments on long term debt 3,425,000 3.425,000 3 . 1 55,000

Total 4.969.91 5 4,969,91 6 1 ) 4 796 474 Other debt service Other objects 5.000 4 050 950 4 050

Total 5 000 4 050 950 4 050

Total debt services 4,974,91 5 4,973,966 949 4,800,524

Total expenditures 4,974,91 5 4,973,966 949 4,800,524

Excess (deficiency) of revenues over expenditures {1,234,455) (1,21 1,924) 22 531 {1,239,985)


Transfer among funds 1 85,867 Transfer to debt service to pay principal on

revenue bonds 1 ,236,670 1 ,236,670 1 ,236,734 Permanent transfer of interest (26. 1 51 ) (26,1 51 ) (1 2.966)

Total other financing sources (uses ) 1 ,21 0,51 9 1,21 0,51 9 1,409,635

Net change in fund balance $ (1,234.455) (1 ,405) � 1,233,050 1 69,650

Fund balance, beginning of year 1,040,408 870 758

Fund balance, end of year � 1,039,003 m 1,040,408

- 58 -

C RYSTAL LAKE COMM U N ITY CONSOLIDATED SCHOOL DISTRICT NO. 47

CAPITAL PROJECTS FUND SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET TO ACTUAL


201 3 ORIGINAL AND VARIANCE W ITH 201 2 F I NAL BUDGET ACTUAL FI NAL BUDGET ACTUAL

Revenues

Local sources

Investment income $ 4, 1 1 0 $ 20,996 $ 1 6,886 $ 1 05,262 Contributions and donations from private

sources 9 , 1 02 9, 1 02 Other 72.675 72 675 4.860

Total local sources 4 1 1 0 1 02 773 98 663 1 1 0,1 22

Total revenues 4 1 1 0 1 02.773 98 663 1 1 0,1 22

Expenditures

Support services

Business

Facil ities acquisition and construction service Purchased services 41 6,291 (41 6,291 ) 639,367 Suppl ies and materials 1 5,957 (1 5,957) Capital outlay 5.526,461 4,924,566 601,895 5,41 9,914

Total 5,526,461 5,356,81 4 1 69 647 6.059,281

Total business 5,526,461 5,356,81 4 1 69.647 6,059,281

Total support services 5,526,461 5,356,81 4 1 69 647 6,059,281

Total expenditures 5,526,461 5,356,81 4 1 69.647 6,059,281


Transfer among funds 1,372,000 1 .372,000

Total other financing sources (uses) 1,372,000 1,372,000

Net change in fund balance � (5,522,351 ) (3,882,041 ) � 1,640,31 0 (5,949, 1 59)

Fund balance, beginning of year 3,931,621 9,880,780

Fund balance, end of year � 49,580 � 3,931,621

- 59 -


FIRE PREVENTION AND LIFE SAFETY FUND SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET TO ACTUAL

FOR THE YEAR ENDED JUNE 30, 201 3 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED J UNE 30, 201 2

Revenues

Local sources

General levy Investment income

Total local sources

Total revenues

Expenditures

Support services

Business

Facilities acqu isition and construction service Capital outlay

Total

Operation and maintenance of plant services Capital outlay

Total

Total business


Total expend itures

Net change in fund balance

Fund balance, beginning of year

Fund balance, end of year

ORIGI NAL AND FI NAL BUDGET

$

$

50,585 $ 1 300

51,885

51 885

50 000

50 000

50 000

50 000

50 000

1 .885

$

- 60 -

201 3

ACTUAL VARIANCE WITH

FI NAL BUDGET

50,336 $ 745

51 081

51 081

1 94 648

1 94 648

240

240

1 94 888

1 94 888

1 94,888

(1 43,807) $

437 1 73

293.366

(249) $ (555)

(804)

(804)

(1 44.648)

(1 44.648)

(240)

(240)

(1 44,888)

(1 44.888}

(1 44.888)

(1 45.692)

$

2012 ACTUAL

49,666 1 925

51 .591

51 591

48.054

48 054

48.054

48 054

48 054

3,537

433 636

437.1 73

CRYSTAL LAKE COM M U N ITY CONSOLIDATED SCHOOL DISTRICT NO. 47 GENERAL FUND

COMBINING BALANCE SHEET AS OF JUNE 30, 201 3

TORT IMMUNITY EDUCATIONAL AND JU DGMENT WORKING CASH

ACCOUNTS ACCOUNTS ACCOUNTS TOTAL

Assets

Cash and investments $ 52,761 ,595 $ 1 ,230,431 $ 1 3,202,252 $ 67, 1 94,278 Receivables (net allowance for uncollectibles):

Interest 63,284 62,698 1 25,982 Property taxes 26,451 ,761 499,31 9 1 2,663 26,963,743 Replacement taxes 1 06,522 1 06,522 I ntergovernmental 1 847 078 1,847,078

Total assets � 81,230,240 � 1 ,7291750 � 1 3,277,61 3 � 96,237,603

Liabi l ities and fund balance

Accounts payable $ 1 65,738 $ $ $ 1 65 ,738 Salaries and wages payable 1 ,707, 1 1 2 1 , 707, 1 1 2 Other current l iabilities 239,589 239,589 Deferred revenue 53,388,386 999,579 52,841 54,440,806 Health claims payable 572,409 572,409

Total l iabilities 56,073,234 999.579 52 841 57,1 25,654

Fund balance

Restricted 730, 1 71 730 , 1 71 Assigned for Self- Insurance 9,345,502 9,345,502 Unassigned 1 5,81 1,504 1 3,224,772 29,036,276

Total fund balance 25,1 57,006 730 1 71 1 3.224.772 39 1 1 1 949

Total l iabil ities and fund balance � 81,230,240 § 1 ,7291750 � 1 3,277,61 3 � 96,237,603

- 61 -


GENERAL FUND COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES

FOR THE YEAR ENDED JUNE 30, 201 3 TORT IMMUNITY

EDUCATIONAL AND JU DGMENT WORKI NG CASH ACCOUNTS ACCOUNTS ACCOUNTS TOTAL

Revenues Property taxes $ 51 ,579,329 $ 973,61 8 $ 24,682 $ 52,577,629 Corporate personal property

replacement taxes 552,000 552,000 State aid 1 8,893,959 1 8,893,959 Federal aid 3,886,472 3,886,472 I nvestment income 1 87,727 5,735 1 41 ,039 334,501 Other 1 476 1 49 1 476 1 49

Total revenues 76,575,636 979,353 1 65 721 77,720,71 0

Expenditures Current:

Instruction : Regular programs 29,039,496 29,039,496 Special programs 1 1 , 329,988 1 1 , 329,988 Other instructional programs 2,569,756 2, 569,756 State retirement contributions 1 1 ,241 ,490 1 1 ,241 ,490

Support Services: Pupils 3,778,446 3,778,446 I nstructional staff 2,837,074 2,837,074 General administration 761 ,698 1 ,034,924 1 , 796,622 School administration 3,71 8,605 3,71 8,605 Business 2,279,561 2,279,561 Transportation 25,344 25,344 Operations and maintenance 1 78,707 1 78,707 Central 2 , 1 91 ,423 2, 1 91 ,423 Other supporting services 243,922 243,922

Community services 32,271 32,271 Payments to other districts and gov't units 3,778,0 14 3,778,0 14

Capital outlay 460 683 460 683

Total expenditures 74,466,478 1,034,924 75,501,402 Excess (deficiency) of revenues over

expenditures 2,1 09,1 58 (55,571 ) 1 65 721 2,21 9,308

Other financing sources (uses) Transfers (out) (1 ,236,670) (1 06,1 85) (1 .342,855)

Total other financing sources (uses) (1 ,236,670) (1 06. 1 85) (1,342,855)

Net change in fund balance 872,488 (55,571 ) 59,536 876,453

Fund balance, beginning of year 24,284,51 8 785 742 1 3.1 65.236 38,235,496

Fund balance, end of year $ 25,1 57,006 � 730,1 71 � 1 3,224,772 � 39,1 1 1,949

- 62 -

CRYSTAL LAKE COM M U N ITY CONSOLIDATED SCHOOL DISTRICT NO. 47 EDUCATIONAL ACCOUNTS

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


201 3 ORIGI NAL AND VARIANCE WITH 2012 FINAL BUDGET ACTUAL F I NAL BUDGET ACTUAL

Revenues

Local sources

General levy $ 51 , 1 37,456 $ 51 , 1 60,56 1 $ 23, 1 05 $ 50,206,649 Special education levy 426,678 41 8,768 (7,91 0) 414, 1 76 Corporate personal property replacement taxes 532,416 552 ,000 1 9,584 540,253 Special education - tuition from other LEA's (in

state) 50,000 (50,000) 48, 1 06 I nvestment income 1 87,829 1 87,727 ( 1 02) 281 ,668 Sales to pupils - lunch 865,646 688,437 ( 1 77,209) 875,51 5 Sales to pupils - breakfast 2,948 4,489 1 ,541 2,954 Sales to adults 40, 1 03 35,01 7 (5,086) 40,587 Other food service 9, 134 2 ,029 (7, 1 05) 1 0,822 Fees 1 67,729 1 60,342 (7,387) 1 6 1 , 991 Rentals - regu lar textbook 455,900 391 ,602 (64,298) 434,752 Payment from other LEA's 5,962 Other 50,000 1 94 233 1 44 233 92,090

Total local sources 53,925,839 53,795,205 (1 30,634) 53. 1 1 5,525

State sources

General state aid 2,904,707 2,91 7,626 1 2 ,91 9 3 , 1 07 , 1 83 Special education - private facil ity tuition 391 ,272 458,878 67,606 41 2,488 Special education - extraordinary 1 ,01 9,579 1 , 300,869 281 ,290 1 , 1 23,6 1 9 Special education - personnel 2 , 1 1 5,205 2,656,364 541 , 1 59 2 , 1 83,342 Special education - orphanage - individual 1 30,361 56,472 (73,889) 1 26,629 Special education - orphanage - summer 937 506 (431 ) 937 Special education - summer school 1 0,874 1 2 ,922 2,048 1 0,874 Bil ingual education - downstate - TPI 260,452. 1 80,766 (79,686) 309,001 State free lunch & breakfast 1 7 ,500 1 9,022 1 ,522 24,794 Other restricted revenue from state sources 49 044 49 044 9 329

Total state sources 6,850,887 7,652,469 801,582 7,308,1 96

Federal sources

National school lunch program 720,000 771 ,859 51 ,859 695,688 School breakfast program 60,000 69, 1 82 9, 1 82 26,249 Food service - other 1 1 3, 586 1 1 3,586 73,024 Title I - Low income 628, 1 1 6 752 ,514 1 24,398 422 ,019 Title IV - Safe & drug free schools - formula ( 1 ,403) Federal - special education - preschool flow-

through 85,463 91 ,81 1 6,348 90,265 Federal - special education - IDEA - flow-

through/low incident 1 ,565,226 1 ,636 ,7 1 3 71 ,487 1 ,456 ,359 Federal - special education - I DEA - room &

board 49,929 49,929 66,678 I DEA - part b - preschool (2,499) IDEA - part b - flow-through 249 ,013

(Continued) - 63 -

C RYSTAL LAKE COM M U NITY CONSOLIDATED SCHOOL DISTRICT NO. 47 EDUCATIONAL ACCOUNTS



201 3 201 2

ORIGINAL AND VARIANCE WITH ACTUAL FI NAL BUDGET ACTUAL F I NAL BUDGET AS RESTATED

ARRA Education jobs fund grant $ $ $ $ 7,034 Emergency immigrant assistance 9,51 0 (9,51 0) ( 1 1 ,885) Title I l l - English language acquisition 79,500 1 53,392 73,892 1 8,735 Title II - Teacher qual ity 146, 1 93 1 68,580 22,387 85,62 1 Medicaid matching funds - administrative

outreach 1 80,000 23,237 (1 56,763) 79,403 Medicaid matching funds - fee-for-service

program 1 1 0,000 55,669 (54,331 ) 87, 1 70 Other restricted revenue from federal sources 1 21 3 {1,2 1 3) {1,065)

Total federal sources 3.585,221 3,886,472 30 1 251 3,340,406

Total revenues 64,361,947 65,334,1 46 972,1 99 63,764,127

Expenditures

Instruction

Regular programs Salaries 24,650,581 24,540,050 1 1 0,531 24,984,31 1 Employee benefits 3,342,904 3 ,31 5, 1 82 27,722 3,420,455 Purchased services 96,076 65,980 30,096 72,631 Supplies and materials 1 ,281 ,768 1 , 1 1 2,2 1 0 1 69,558 962 ,375 Capital outlay 79, 1 51 92 ,253 ( 1 3, 1 02) 1 1 5, 1 1 3 Other objects 6 500 6 074 426 5 928

Total 29.456,980 29,1 31,749 325,231 29,560,81 3

Special education programs Salaries 7,051 ,059 7, 1 52,970 ( 1 01 ,91 1 ) 7 ,01 7,276 Employee benefits 753,256 820, 078 (66,822) 774 , 160 Purchased services 48,775 49,804 ( 1 ,029) 73,537 Supplies and materials 63,507 1 64,973 ( 1 01 ,466) 1 70,307 Capital outlay 20,000 1 9,973 27 1 6 1 , 359 Other objects 3 000 2 676 324 1 781

Total 7,939,597 8,21 0,474 (270,877) 8.1 98,420

Special education programs Pre-K Salaries 2, 1 04,861 2 ,048,099 56,762 2,089,358 Employee benefits 233,221 241 ,930 (8, 709) 239, 1 1 5 Purchased services 1 0,269 1 0,269 Supplies and materials 1 0,000 1 1 ,879 (1 ,879) 1 1 ' 1 38 Capital outlay (2,499)

Total 2,358,351 2,301,908 56 443 2,337,1 1 2

(Continued) - 64 -

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 EDUCATIONAL ACCOUNTS

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


201 3 201 2

ORIGINAL AND VARIANCE WITH ACTUAL FI NAL BUDGET ACTUAL FINAL BUDGET AS RESTATED

Remedial and supplemental programs K-1 2 Salaries $ 251 , 1 30 $ 1 83,095 $ 68,035 $ 1 74,541 Employee benefits 43,741 51 ,858 (8, 1 1 7) 44,909 Purchased services 3 ,910 (3,91 0) Supplies and materials 33,859 68.666 (34,807) 22,5 1 8

Total 328,730 307,529 2 1 201 241,968

Interscholastic programs Salaries 265,000 264,996 4 264,350 Employee benefits 3,245 4, 709 (1 ,464) 3,993 Purchased services 1 6,992 1 2 ,947 4,045 1 1 , 754 Supplies and materials 1 4,250 1 3,735 5 1 5 1 2 ,068 Other objects 1 200 1 200 1 200

Total 300,687 297,587 3 1 00 293,365

Summer school programs Salaries 85,058 1 1 1 ,852 (26,794) 85,023 Employee benefits 1 ,7 1 0 1 ,446 264 1 ,942 Suppl ies and materials 1 000 44 956

Total 87 768 1 1 3 342 (25,574) 86,965

Gifted programs Salaries 540, 000 466,772 73,228 536,642 Employee benefits 63,680 59,246 4,434 65, 1 99 Purchased services 1 ,354 302 1 ,052 1 , 1 1 7 Suppl ies and materials 7, 1 25 7,687 (562) 5, 1 09 Other objects 2 1 0

Total 6 1 2 1 59 534 007 78 1 52 608,277

Bilingual programs Salaries 1 , 736,331 1 ,351 ,286 385,045 1 , 5 1 3, 976 Employee benefits 243,705 2 1 3 ,072 30,633 207 ,462 Purchased services 38,091 28,960 9, 1 31 1 0,590 Suppl ies and materials 1 8 5 1 0 26,1 32 (7,622) 85 808

Total 2,036,637 1,6 1 9,450 4 1 7 1 87 1 8 1 7 836

(Continued) - 65 -

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 EDUCATIONAL ACCOUNTS


FOR THE YEAR ENDED JUNE 30, 201 3 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 301 201 2

201 3

ORIGINAL AND VAR IANCE WITH FINAL BUDGET ACTUAL FINAL BUDGET

Truant's alternative and optional programs Supplies and materials � � 5,370 � (5,370)

Total 5 370 (5,370)

Pre - K programs - private tuition Other objects 486 878 486,878

Total 486 878 486 878

Special education programs K-1 2 -private tuition Other objects 530,050 (530.050)

Total 530.050 (530,050)

Total instruction 43.607.787 43,051,466 556,321

Support services

Pupils

Attendance and social work services Salaries 947,558 1 ,001 ,906 (54,348) Employee benefits 1 14,269 1 25,668 (1 1 ,399) Purchased services 7,005 6,71 5 290 Suppl ies and materials 3 147 1 587 1 560

Total 1 071 979 1,1 35,876 (63,897)

Health services Salaries 660,950 628,654 32,296 Employee benefits 1 04,279 1 1 2 ,502 (8,223) Purchased services 4,400 2,077 2,323 Suppl ies and materials 14 ,81 8 4,849 9,969 Capital outlay 4 000 4 000

Total 788.447 748 082 40 365

Psychological services Salaries 782, 1 00 848,392 (66,292) Employee benefits 92,0 1 9 1 06,042 ( 14,023) Purchased services 1 ,700 925 775 Supplies and materials 9,000 3, 746 5,254 Capital outlay 3 200 676 2 524

Total 888,0 1 9 959,781 (71 ,762)

- 66 -

�

201 2 ACTUAL

AS RESTATED

1,006

1 006

691,862

691 .862

43,837,624

940,270 1 23,686

6,586 2 888

1,073,430

652,901 1 06, 1 26

2,460 7, 1 03 3 877

772 467

779,962 94,225

1 ,635 4,037 1 31 1

881 1 70

(Continued)

CRYSTAL LAKE COMMUNITY CONSOLIDATED S CHOOL DISTRICT NO. 47 EDUCATIONAL ACCOUNTS



201 3 201 2

ORIGINAL AND VARIANCE WITH ACTUAL F I NAL BUDGET ACTUAL FINAL BUDGET AS RESTATED

Speech pathology and audiology services Salaries $ 752,450 $ 790,91 5 $ (38,465) $ 706, 1 86 Employee benefits 1 04,030 1 22,669 ( 1 8,639) 1 06,028 Purchased services 40,683 3,955 36,728 39, 324 Supplies and materials 9 359 8 242 1 1 1 7 7 434

Total 906,522 925,781 (1 9,259) 858,972

Other support services - pupils Salaries 1 1 ,500 8,800 2,700 9,318 Employee benefits 30 73 (43) 57 Purchased services 4,000 729 3,271 3,5 16 Suppl ies and materials 2 674

Total 1 5 530 9 602 5,928 1 5 565

Total pupils 3,670,497 3,779,1 22 (1 08,625) 3,601,604

Instructional staff

Improvement of instructional services Salaries 754,7 1 0 779, 1 90 (24,480) 624,31 0 Employee benefits 355,049 260,739 94,3 1 0 330,3 1 3 Purchased services 302,499 21 5,780 86,7 1 9 1 90, 1 38 Supplies and materials 68,442 1 30,3 1 5 (61 ,873) 1 09 ,515 Capital outlay 2,750 2 ,750 Other objects 1 500 2 294 (794) 653

Total 1 ,484,950 1,388,31 8 96,632 1,254,929

Educational media services Salaries 1 , 085,61 0 1 , 1 35,925 (50,3 1 5) 1 ,074,440 Employee benefits 89,276 95,645 (6,369) 92, 316 Purchased services 3,058 (3,058) 1 0,740 Suppl ies and materials 59,603 75,357 ( 1 5, 754) 66,827 Capital outlay 2 343 2 343 3 396

Total 1,236,832 1,309,985 (73,1 53) 1 247 7 19

Assessment and testing Salaries 8,000 1 1 , 372 (3,372) 7,545 Employee benefits 64 1 1 5 (51 ) 85 Purchased services 95, 1 1 9 91 ,41 9 3,700 (350) Supplies and materials 35 000 35 865 (865) 33 730

Total 1 38,1 83 1 38 771 (588) 41 0 1 0

Total instructional staff 2,859,965 2,837,074 22,891 2.543,658

(Continued) - 67 -

CRYSTAL LAKE COMMU NITY CONSOLIDATED SCHOOL DISTRICT NO. 47 EDUCATIONAL ACCOUNTS



201 3 201 2

ORIGI NAL AND VARIANCE WITH ACTUAL FINAL BUDGET ACTUAL FINAL BUDGET AS RESTATED


Board of education services Purchased services $ 280,502 $ 2 1 8,438 $ 62,064 $ 242,436 Supplies and materials 5,691 4,897 794 1 , 81 1 Other objects 23,500 1 6 975 6,525 22 1 1 8

Total 309,693 240 3 1 0 69,383 266,365

Executive administration services Salaries 225, 521 251 ,770 (26,249) 226,793 Employee benefits 35,728 35, 372 356 36,353 Purchased services 252,000 221 ,699 30,301 264,350 Supplies and materials 2,500 2,243 257 2,462 Capital outlay 1 ,498 1 ,498 Other objects 4 000 5 1 1 1 (1,1 1 1 ) 3 640

Total 52 1,247 516,1 95 5,052 533,598

Special area administration services Salaries 6,321 4,000 2,321 5,500 Employee benefits 1 657 1 1 93 464 1 454

Total 7 978 5 1 93 2 785 6 954

Total general administration 838 9 1 8 761,698 77 220 806 9 1 7


Office of the principal services Salaries 3,039,449 3 ,01 2 ,382 27,067 3 ,030, 748 Employee benefits 688,725 686,277 2,448 696,961 Purchased services 1 0,940 4, 1 72 6,768 3,745 Supplies and materials 6,670 4,602 2,068 4,837 Capital outlay 1 , 500 1 , 1 36 364 Other objects 1 5 750 1 1 1 72 4 578 1 0 060

Total 3,763,034 3 7 1 9 741 43 293 3,746,351

Total school administration 3,763,034 3 71 9 74 1 43,293 3.746,351

(Continued) - 68 -

CRYSTAL LAKE COM M U NITY CONSOLIDATED SCHOOL DISTRICT NO. 47 EDUCATIONAL ACCOUNTS

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



Business

Direction of business support services Salaries $ 1 35,000 $ Employee benefits 26,863 Purchased services 26,000 Supplies and materials 20,760 Capital outlay 2,000 Other objects 6 500

Total 2 1 7,1 23

Fiscal services Salaries 270,000 Employee benefits 56,2 1 4 Purchased services Other objects 1 5

Total 326,229

Operation and maintenance of plant services Salaries 1 4 1 ,064 Employee benefits 32,969 Purchased services 22,400 Supplies and materials 5,000 Capital outlay 1 ,300 Other objects 900

Total 203,633

Pupil transportation services Purchased services 52,267

Total 52,267

Food services Salaries 30,000 Employee benefits 30,020 Purchased services 1 ,407 ,049 Supplies and materials 1 5,000 Capital outlay 20,000 Other objects 1 500

Total 1,503,569

- 69 -

201 3

ACTUAL

209, 1 1 6 46, 1 1 1 25, 798

8,2 1 8 1 ,054 4 778

295,075

1 91 , 1 6 1 34, 551

400 7

226,1 1 9

1 35,421 33,936

5,223 2 ,576

1 551

1 78 707

25 344

25 344

36,038 1 2,242

1 ,295,5 1 7 1 30,386

7 , 1 74 1 860

1,483,21 7


$ (74, 1 1 6) ( 1 9 ,248)

202 1 2 ,542

946 1 722

(77,952)

78,839 2 1 ,663

(400) 8

1 00 1 1 0

5,643 (967)

1 7, 1 77 2,424 1 ,300 (651 )

24,926

26,923

26,923

(6, 038) 1 7, 778

1 1 1 ,532 ( 1 1 5, 386)

1 2 ,826 (360)

20,352

201 2 ACTUAL

AS RESTATED

$ 1 50,230 28,853

7,426 7 ,949 8,371 3 345

206 1 74

285,200 56,639

1 4

341 853

1 39,898 33,365 20,395

2,783

672

1 97 1 1 3

60 898

60 898

1 1 6,61 9 30, 350

1 ,330,288 87,646 29,679

1 860

1,596,442

(Continued)

C RYSTAL LAKE COM M U NITY CONSOLIDATED SCHOOL DISTRICT NO. 47 EDUCATIONAL ACCOUNTS


FOR THE YEAR ENDED JUNE 30, 201 3 WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 301 2012

Internal services Salaries Employee benefits Purchased services Supplies and materials Capital outlay

Total

Total business

Central

Information services Purchased services Supplies and materials

Total

Staff services Salaries Employee benefits Purchased services Supplies and materials Capital outlay Other objects

Total

Data processing services Salaries Employee benefits Purchased services Suppl ies and materials Capital outlay Other objects

Total

Total central

Other supporting services Employee benefits Purchased services Supplies and materials

Total



$ 1 56 ,508 24,724 29,020 50,000 1 5 1 00

275,352

2,578,1 73

2,000 2 000

4 000

284,606 58,708 46,000 1 5,000 4,000

40 000

448 314

736,459 1 40,294 608,780 308,064 325,000

1 500

2,1 20,097

2,572,41 1

52,267 500

52 767

1 6,335,765

- 70 -

201 3

VARIANCE WITH ACTUAL FINAL BUDGET

$ 1 82,322 $ (25,8 1 4) 25,857 ( 1 , 1 33) 25,677 3,343 49,522 478 29,595 (1 4,495)

3 12 973 (37,621 )

2,521,435 56,738

2,000 2,000

4 000

272,8 1 5 1 1 ,791 63,950 (5,242) 35,252 1 0,748

8,923 6 ,077 4,000

38 723 1 277

4 1 9 663 28 651

726,21 5 1 0,244 1 4 1 ,654 (1 ,360) 533,665 75, 1 1 5 368,729 (60,665) 308,822 1 6, 1 78

1 497 3

2,080,582 39 5 1 5

2,500,245 72 1 66

202 ,712 (202,7 1 2) 4 1 ,04 1 1 1 ,226

169 331

243,922 (1 9 1,1 55)

1 6,363,237 (27,472)

201 2 ACTUAL

AS RESTATED

$ 1 54 ,310 25, 16 1 22,597 47,506

249,574

2,652,054

1 ,400 1 66

1 566

264,531 59,456 42,578 1 1 , 1 91

38 957

4 16 7 1 3

733,882 1 42,371 52 1 ,693

95,331 508 ,722

1 081

2,003,080

2,421,359

30,283 79

30,362

1 5,802,305

(Continued)

C RYSTAL LAKE COM M U N ITY CONSOLIDATED SCHOOL DISTRICT NO. 47 EDUCATIONAL ACCOUNTS

SCHEDULE OF REVENU ES, EXPEN DITURES AND CHANGES IN FUND BALANCES - BUDGET TO ACTUAL - NON-GMP BUDGETARY BASIS


201 3 201 2

ORIGINAL AND VARIANCE WITH ACTUAL FINAL BUDGET ACTUAL FINAL BUDGET AS RESTATED

Community services

Salaries $ 6,200 $ 3,294 $ 2,906 $ 3,599 Employee benefits 1 ,870 981 889 563 Purchased services 20,385 8,846 1 1 ,539 1 0, 168 Supplies and materials 3 516 1 9 1 50 {1 5,634) 7 023

Total community services 31 971 32 271 (300) 21,353

Payments to other districts and governmental units

Payments for regular programs Purchased services 1 ,527,871 1 ,493,330 34 541 1,446,955

Total 1,527,871 1 .493,330 34 541 1,446,955

Payments for special education programs Purchased services 1 ,060,000 634,678 425,322 1 ,057,395 Other objects 1 .6 1 3,129 1,650,006 (36,877) 1,636,256

Total 2,673,1 29 2,284,684 388 445 2,693,651

Total payments to other districts and governmental units 4,201,000 3,778,014 422,986 4,140.606

Total expenditures 64,1 76,523 63,224,988 951,535 63,801,888

Excess (deficiency) of revenues over expenditures 1 85 424 2,1 09,1 58 1,923,734 (37,761 )


Transfer to debt service fund to pay principal on revenue bonds (1 ,236,670) {1,236,670) (1,236,734)

Total other financing sources (uses) (1,236,670) (1,236,670) (1 ,236,734)

Net change in fund balance � 1 85,424 872,488 � 687.064 ( 1 ,27 4,495)

Fund balance, beginn ing of year (as restated) 24,284,51 8 25. 559,0 1 3

Fund balance, end of year � 25,1 57,006 § 24.284,5 18

(Concluded) - 71 -

C RYSTAL LAKE COM M U N ITY CONSOLI DATED SCHOOL DISTRICT NO. 47

TORT IMMUNITY AND JUDGMENT ACCOUNTS SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET TO ACTUAL


201 3 ORIGI NAL AN D VARIANCE W ITH 201 2 F INAL BUDGET ACTUAL FI NAL BUDGET ACTUAL

Revenues

Local sources

Tort immunity levy $ 973,335 $ 973,61 8 $ 283 $ 955,522 I nvestment income 808 5,735 4,927 1 ,776 Other 1 0 000 (1 0,000) 9 927

Total local sources 984 1 43 979,353 (4,790) 967,225

Total revenues 984,1 43 979,353 (4,790) 967,225

Expenditures

Insurance payments (regular or self-insurance Purchased services 950,000 1,034,924 (84,924) 875,206

Total 950,000 1,034,924 (84,924) 875,206

Total general adm inistration 950,000 1,034,924 (84,924) 875,206

Total expenditures 950,000 1 ,034,924 (84,924) 875,206

Net change in fund balance � 34,1 43 (55,571 ) � (89,71 4) 92,01 9

Fund balance, beginning of year 785 742 693,723

Fund balance, end of year � 730,1 71 � 785,742

- 72 -

C RYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 WORKING CASH ACCOUNTS

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET TO ACTUAL FOR THE YEAR ENDED JUNE 30, 201 3

WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 30, 2012 2013

ORIGINAL AND VARIANCE WITH 201 2 FINAL BUDGET ACTUAL FINAL BUDGET ACTUAL

Revenues

Local sources

General levy $ 24,669 $ 24,682 $ 1 3 $ 24, 1 87 Investment income 1 70 543 141,039 (29,504) 1 23,4 1 5

Total local sources 1 95,2 1 2 165,72 1 (29,491 ) 147 602

Total revenues 1 95,2 1 2 1 65,721 (29,491 ) 147,602

Expenditures

Total expenditures

Excess (deficiency) of revenues over expenditures 1 95,2 1 2 165,721 (29,491 ) 147,602


Permanent transfer from working cash accounts - abolishment or abatement ( 1 23,41 5)

Permanent transfer from working cash accounts - interest (1 06,1 85) (1 06,1 85)

Total other financing sources (uses) (1 06,1 85) (1 06,1 85) (1 23,4 1 5)

Net change in fund balance m 1 9512 1 2 59,536 � (135,676) 24, 1 87

Fund balance, beginning of year 1 3,165,236 1 3,1 41,049

Fund balance, end of year � 1 31224.772 � 1 3,1 65,236

- 73 -

CRYSTAL LAKE COM MUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 DEVELOPERS' IMPACT ACCOUNTS

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL FOR THE YEAR ENDED JUNE 30, 201 3

WITH COMPARATIVE ACTUAL AMOUNTS FOR THE YEAR ENDED JUNE 30, 2012

Revenues

Local sources

Interest on investments

Miscellaneous revenue

Total local sources

Total revenues

Expenditures

Support services

Business

Operations and maintenance of plant Salaries Employee benefits Supplies and materials Purchased services

Capital Outlay

Total

Total business


Total expenditures

Excess (definciency) of revenues over

expenditures


Transfer among funds

Total other financing sources (uses)

Net Change in fund balance

Fund balance, beginning of year

Fund balance, end of year

ORIGINAL AND FINAL BUDGET

$

$

$

- 74 -

$

$

201 3

ACTUAL

VARIANCE FAVORABLE

(UNFAVORABLE) 2012

ACTUAL

(8,91 1 ) $ 1 3,057 8,91 1 $ 47, 1 75 ------�(4�7�,1�7�5) ------�2=9�,5�4�4

56,086

56,086

45,679 90,372

684, 1 58

820,209

820,209

820,209

820,209

------�<5�6�,0�8�6) _______ 4�2�,6�0�1

------�(5=6�,0�8�6) _______ 4�2�,6�0�1

(45,679) (90,372) 38

(684,1 58) -----

(820,209) 38

(820,209) ____ _;:3;..;;..8

----�<�82�0�,2�0�9) --------�3=8

(820,209) -----=3=8

(764, 1 23) ,;;.,$ __ ....;.7..;.64.;,:,,.;,;;12;.;;.3 42,563

(1 ,372,000) -----

(1 ,372,000) -----------

(2, 136, 123) ,;;.,$ ____ _

2,21 9,676

83,553

42,563

2,1 77,1 1 3

$ 2,219 ,676

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 AGENCY FUNDS

SCHEDULE OF CHANGES IN ASSETS AND LIABILITIES YEAR ENDED JUNE 30, 201 3

BALANCE CASH CASH BALANCE JUNE 30, 201 2 RECEI PTS DISBURSEMENTS JUNE 30, 201 3

Assets

Cash $ 397,651 $ 762,576 $ 775,792 $ 384.435

Liabilities

Due to student groups: Husmann Special Projects $ $ 1 , 1 23 $ 1 , 1 23 $ Husmann - Field Trips 5,424 1 ,064 3, 1 1 7 3,371 Husman - Library Media Center 2,000 2,000 Husmann - Walk of Fame 287 287 North - Special projects 1 ,505 1 , 1 85 2,690 North - Field Trips 794 1 , 1 62 964 992 North - Financial Need 1 ,725 473 1 ,252 South - Special projects 1 81 1 80 1 South - Field Trips 245 245 LMS - Special projects 456 454 2 LMS - Field Trips 1 ,304 8,990 8,959 1 ,335 LMS - Student Photos 267 1 55 1 1 2 LMS - Student Council 3,452 1 ,722 1 ,591 3,583 LMS - Yearbook 5,781 5,520 5,580 5,721 LMS - Student Plays 7,945 4,035 7,048 4,932 LMS - Athletics 357 348 9 LMS - Natl Jr Honor Society 6,858 1 ,447 5,41 1 LMS - Student Store 4,289 7 ,144 6,821 4,61 2 LMS - Student Vending 3,397 847 3,099 1 , 1 45 LMS Fitness Marathon 1 ,437 3,945 4 ,191 1 ' 1 91 LMS - PE Off Campus 91 1 9,090 9,076 925 LMS - Science Lab Fees 1 1 Coventry - Special Projects 95 95 Coventry - Field Trips 1 ,016 520 520 1 ,016 West - Special projects 1 5, 741 2,069 5,286 1 2, 524 West - Field Trips 1 ,086 275 1 ,361 West - Principal 4,835 3, 1 85 346 7,674 RBMS - Special Projects 3,253 1 5,782 1 5,743 3,292 RBMS - Field Trips 668 1 , 932 1 ,930 670 RBMS Principal 5,000 1 64 4,836 RBMS - Student Council 4,095 3,01 7 2,890 4,222 RBMS - Yearbook 1 , 1 02 54,622 52,433 3,291 RBMS - Drama 2,914 1 , 158 510 3,562 RBMS - Athletics 459 1 7,749 1 8,090 1 1 8 RBMS - Band 1 ,004 1 4,927 1 5,229 702 RBMS - Chorus 2,830 1 5,293 1 4,541 3,582 RBMS - Natl Jr Honor Society 948 5,079 4,757 1 ,270 RBMS Newspaper 298 298 Canterbury - Special Projects 364 9,572 9,343 593 Indian Prairie - Field Trips 443 1 ,656 1 ,532 567 Pop Fund-CORE Center 7,722 751 903 7,570 CL Friends of the Gifted 1 22 1 22 Mary Veeck Memorial Fund 1 ,068 1 ,068 Interest 1 91 75 266 Pop Fund-Warehouse/Print Shop 1 36 1 36 HBMS - Special Projects 9,586 8,41 6 1 6, 1 99 1 ,803 HBMS - Field Trips 520 1 ,266 1 ,745 41 HBMS - Learning Center 1 ,034 26 330 730 HBMS PTO 108 1 08 HBMS - Student Council 6,030 3,706 2,302 7,434 HBMS - Yearbook 9,657 1 3,833 1 7,859 5,631 HBMS Drama 3,887 1 2,713 7,577 9,023

- 75 -

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 AGENCY FUNDS

SCHEDULE OF CHANGES IN ASSETS AND LIABILITIES YEAR ENDED J U N E 30, 201 3

BALANCE CASH CASH BALANCE JUNE 30, 201 2 RECEIPTS DISBURSEMENTS JUNE 30, 201 3

Liabilities

Due to student groups (cont.): HBMS - Athletics $ 1 ,008 $ 1 3,022 $ 1 4,030 $ HBMS - Cheer 61 61 HBMS - Social Fund 485 485 Woods Creek - Special Projects 868 3,263 3,2 1 8 91 3 Glacier Ridge Special Projects 6,397 8,024 9,238 5, 1 83 Glacier Ridge Field Trips 1 ,370 2,596 2,695 1 ,271 Glacier Ridge PTA 1 83 1 83 Glacier Ridge Adopt a Book 980 980 Glacier Ridge - Book Room 1 36 1 36 Glacier Ridge-Drama 2,025 2, 1 68 2, 702 1 ,491 Early Childhood - Special Projects 1 9,942 1 9,294 1 8,398 20,838 PTO North Activity Account 1 0,744 76,419 72,581 1 4,582 PTO Bernotas Academic 23,580 1 1 ,559 28,378 6,761 PTO Bernotas General Operating 481 481 PTO Special Ed Special Projects 450 69 519 PTO H B M S Activity Account 21 ,81 2 88.21 2 90,873 1 9. 1 51

Total due to student groups 21 3, 1 39 470,286 491 ,01 9 1 92,406

Due to employee flexible spending account 1 84,51 2 292,290 284,773 1 92,029

Total Liabilities $ 397,651 $ 762,576 $ 775,792 $ 384,435

- 76 -

T H IS P A G E I S I N T E N T IONA LLY LEFT BLANK

Statistical Section

This part of the District's comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the District's overal l financial health .

Contents

Financial Trends

These schedules contain trend information to help the reader understand how the District's financial performance and well-being have changed over time.

Revenue Capacity These schedules contain i nformation to help the reader assess the District's most significant local revenue source, the property tax.

Debt Capacity These schedules present information to help the reader assess the affordability of the District's current levels of outstanding debt and the District's abil ity to issue add itional debt in the future.

Demographic and Economic Information

These schedules offer demographic and econom ic indicators to help the reader understand the environment within the District's financial activities take place.

Operating Information

These schedules contai n information about the District's service and resources to help the reader understand how the District's financial information relates to the services the District provides and the activities it performs.

77

83

88

93

96

Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial reports for the relevant year.

2013

Governmental activities

Invested in capital assets, net of related debt $ 29,316,258 Restricted 1 1 ,686,790

Unrestricted 35 209,869 Total net assets $ 76,212,917

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 Net Position by Component

Last Ten Fiscal Years

Fiscal Year 2012 201 1 2010 2009 2008

$ 26,487,357 $ 22,965,692 $ 20,503,098 $ 20,774,453 $ 20,008,104 $ 1 2,580,912 1 3,651 ,924 4,1 33,527 2,688,429 2,205,977

34 855,2 1 6 34,672,334 47,1 58,751 58,782 834 58,045,248 $ 73,923,485 $ 71 ,289,950 $ 71,795,376 $ 82,245,716 $ 80,259,329 $

• 77 -

2007 2006 2005 2004

20,026,632 $ 2 1 , 1 08,521 $ 1 9,099,037 $ 1 8,307,91 1 209,018 303,161 73,957 48,309

52,41 9,663 50,584,723 46,328,828 41 ,276,433

72,655,31 3 $ 71,996,405 $ _65,501 ,822 $ 59,632,653

Expenses Governmental activities:

Instruction

Support Services Community Services/Nonprogrammed charges Payments to other Districts and Gov Units excluding Special Ed

State On-Behalf Contributions to TRS

Interest on long-term debt

Total government expenses

Program Revenues Governmental activities:

Charges for services Instruction

Support Services Operating grants and contributions

Capital grants and contributions

Total government program revenues

Net (Expense)/Revenue

General Revenues and Other Changes in Net Position

Governmental activities:

Taxes Property taxes

Payments in Ueu ofT axes

General State Aid

Investment earnings Other general revenues

Total general revenues and other changes in net position

Change in Net Position

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 Expenses, Revenues, and Net (Expense)/Revenue


Fiscal Year 2013 2012 .ruJ.

$ 48,053,747 $ 49,287,145 $ 52,433,565 $ 30,216,027 29,545,061 28,506,975

32,346 21 ,452 19,783 1 ,493,330 1 ,446,955 24,480

1 1 ,241 ,490 10,141 ,304 9,723,679 1 ,434,617 1 ,577,846 1 ,653,048

92,471 ,557 92,019,763 92,361 ,530

932,608 968,330 766,661 793,800 984,354 1 , 1 1 1 ,378

21,069,572 19,835,896 20,933,022 1 94,616 200,165 136,454

22,990,596 __1_!..988, 7 45 22,947,515

(69,480,961) (70,031 ,018) (69,414,015)

66,870,444 65,513,824 62,354,044 835,856 818,068 889,274

3,667,626 3,857,183 5,144,873 387,365 585,387 520,398

9,102

71,770,393 70,774,462 68,908,589

$ 2,289,432 !._.E3,444 $ (505,426) $

WQ

53,446,047 $ 30,417,548

20,387

9,771 ,970

1 442 895 95,098,847

746,006 1 ,187,264

22,301,071

24,234,341

(70,864.�)

61 ,517,148 685,736

6,978,965 517,863

69,699,712

(1 '164,794) $

2009

45,186,878 30,258,661

4,774,643

7,316,045

1 356 869 88,893,096

1 ,961 ,468 73,565

17,098,875

19,133,908

(69,759,1 88)

59,183,773 854,643

9,532,629 1 ,949,195

225,335

71 ,745,575

1 ,966,387

2008

$ 42,738,587 30,390,882

3,635,234

5,077,903

1 600,995 83,443,601

2,023,324 80,469

17,181.153

19,284,946

(64, 1 58,655)

56,892,984 968,988

10,000,527 3,070,164

830,108

71 ,762,771

$ 7,604,116

Notes: Beginning net assets were restated in 201 1 . Amounts in years prior to 2012 have not been adjusted for the restatement.

· 78 -

2007 W§_ 2005 2004

$ 41,121 ,963 $ 40,1 89,207 $ 38,970,885 $ 36,149,184 28,720,797 29,858,105 23,793,308 23,448,728

3,139,971 3,241 ,700 3,631,331 3,553,343

3,748,387 2,545,599 3,994,685 4,637,425

1,698 697 1 ,796,489 1 ,858,151 1 ,924,750

78,429,815 77,631 ,100 70,248,360 69,71 3,430

2,167,886 2,066,381 2,109,375 2,090,632 88,419 66,758 65,209 54,805

1 3,272,701 1 1 ,450,949 1 1 ,721,445 12,080,099 8,193 8,301

15,529,006 13,584,088 13,904,222 14,233,837

(62,900,809) (64,047 ,012) (56,344, 1 38) (55,479,593)

49,500,937 55,470,331 48,826,574 46,103,140 906,126 830,537 655,275 541 ,527

9,012,285 8,976,603 9,594,598 8,555,963 3,121 ,487 2,246,745 1 ,248,901 790,376 1 ,018,782 3,017,379 1 ,887,959 1,978,486

63,559,617 70,541 ,595 62,213,307 57,969,492

$ 658,808 $ 6,494,583 $ 5,869,169 $ 2,489,899

2013

General Fund Restricted $ 730,171 Assigned 9,345,502 Unassigned 29,036,276 Reserved . Unreserved

Total general fund 39,1 1 1,949

All Other Governmental Funds Restricted, reported in:

Capital project funds $ 342,946 Debt service funds 1 ,039,003 Special revenue funds 1 0,267,966

Unassigned, reported in: Special revenue funds .

Reserved . Unreserved, reported in:

Capital project funds . Debt service funds . Special revenue funds

Total all other governmental funds $ 1 1 .. 649.915

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 Fund Balances, Governmental Funds


Fiscal Year 2012 201 1 2010 2009 2008 2007

$ 785,742 $ 693,723 $ . $ $ . $ 9,559,494 8,017,275

27,890,260 28,792,696 . . . 8,376,114 7,236,800 5,839,357 . 24,757.469 22,974,907 23,514,404 21 .396.220

38,235,496 37,503,694 24,757,469 31 ,351 ,021 30,751 ,204 27 .. 235,577

$ 4,368,794 $ 10,314,416 $ $ . $ . $ 1 ,040,408 870,758

1 1 ,001 ,538 1 1 ,333,980

(486,387) (1 ,282, 701) . 2,1 54,325 3,625,010 3,649,801 3,758,628

. . 14,395,107 . . 877,070 22.797.044 1 9,300,022 17,312.605 14.276,300

$ 1 51924,353 $ 21 .236.453 $ 40,223,5�6 $_ 22,925,032 $ �.962,406 $ 18,0_34.928

Notes: GASB 54 was adopted as of June 30, 201 1 . Years prior to that have not been adjusted.

• 79 -

2006 2.QQ§ 2004

$ $ . $

4,635,630 3,263,530 2,243,450 23,983,217 20,170, 1 35 1 7.214,229

28.618,847 23,433,665 19,457,679

$ $ $

3,785,709 5,678,700 5,625,594

12, 1 39,949 1 1 .488.280 10,59 1 , 045

$ 1 5,925,658 $ 1 7. 1 66,980 $ 16,216,639

201 3

Local sources:

Ad valorem taxes $ 67,706,300 $ Interest and other income 525,372 Other revenues 1 ,765 143

Total local sources 69,996,8 1 5

State sources: General State Aid, Grants & other 1 1 . 1 71 .655

Total state sources 1 1 . 1 71 .655

Federal sources: Federal grants 4,08 1 , 088

Total federal sources 4.081 .088

Total revenues $ 85,249,558 $

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47

201 2 20 1 1

66,33 1 , 892 $ 63,243, 3 1 8 565,881 437,306

1 , 952,684 1 ,878,039

68.850,457 65,558,663

1 0, 1 1 8,284 1 1 ,856,646

1 0, 1 1 8.284 1 1 ,856,646

3.540.571 5.71 0,921

3,540,571 5.71 0.921

82,509,3 1 2 $ 83,1 26.230

Governmental Funds Revenues


201 0 2009

$ 62,202,884 $ 60,038,416 345,996 1 ,924, 1 92

1 ,933.270 2.260,368

64,482, 1 50 64,222,976

1 1 91 1 ,644 1 4,792,379

1 1 91 1 ,644 1 4,792.379

5 , 1 47,81 7 5.1 80.606

5 , 1 47,817 5 , 1 80,606

$ 81,54 1 ,61 1 $ 84,1 95.961

Fiscal Year

2008 2007

$ 57,861 ,972 $ 50,407,063 3,070,164 3,069,280 2.933,901 3,230,003

63,866,037 56,706,346

1 7,62 1 ,632 1 5, 1 86,056

1 7,621 ,632 1 5 . 1 86,056

3.48 1 , 803 2,531 ,625

3,481 ,803 2,531 ,625

$ 84,969,472 $ 74,424,027

Notes: The On-Behalf payments made to the state to TRS have not been included in this schedule.

- 80 -

2006 2005 2004

$ 56,300,868 $ 49,48 1 , 849 $ 46,644,667 2,246, 745 1 ,248,901 790,376 5. 1 50.518 4,062,543 4,123.923

63,698 , 1 3 1 54,793,293 51 ,558,966

1 4,674,267 1 4,699,333 1 3,1 6 1 ,053

1 4,674,267 1 4,699,333 13 1 6 1 ,053

2,565,666 2.629,244 2, 1 95,1 53

2,565,666 2.629,244 2, 1 95, 1 53

$ 80,938,064 $ 72,12 1,870 $ 66,9 1 5 , 1 72

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 Governmental Funds Expenditures and Debt Service Ratio


Fiscal Year

201 3 201 2 201 1 201 0 2009 2008

Instruction

Regular Programs $ 29,421 ,752 $ 29,821 ,61 9 $ 31 ,648,709 $ 34,024,298 $ 34,387,984 $ 33,245,354 Special Education Programs 1 1 ,942,617 1 1 ,91 0,303 1 1 ,888,744 10,371 ,597 8,593,603 8,085,026 Interscholastic Programs 297,587 293,365 298, 1 78 31 5,735 278,280 292,573 Summer School Programs 1 1 3,342 86,965 200,173 149,455 205,875 201 ,818

Support Services

Education 19,755,452 1 9,029,754 19,259,666 20,608,602 1 6,056,739 14,503,561 Operation & Maintenance of Plant Services 7,085,828 7,122,643 6,951 ,315 6,71 1 ,743 6,212,947 5,527,374 Pupil Transportation Services 4,238,226 4,408,063 4,192,857 4,1 57,574 3,229,255 4,079,907 Employee Benefits N/A •• N/A •• N/A •• N/A •• 3,042,642 2,900,821

Community services 32,317 21 ,405 19,775 1 1 ,829 19,088 1 8,552 Nonprogrammed charges 3,788,761 4,148,654 4,557,768 4,220,251 4,755,247 3,616,682 Claims & Premiums

Capital outlay

Facilities acquisition/construction - N/A •• 1 ,21 1 ,717 1 ,767,960 Other capital outlay 6,997,695 7,336,406 6,886,882 2,468,914 905,984 1 ,460,276

Debt service

Principal 3,425,000 3,1 55,000 1 ,960,000 850,000 1 ,360,000 1 ,200,000 Interest 1 ,548,966 1 ,645,524 1 503,031 1 , 146,788 1 ,566,838 1 ,626,463

Total expenditures $ 88,647,543 $ 88,979,701 $ 89,367,098 $ 85,036,786 $ 81 ,826,199 $ 78,526,367

Debt service as a percentage of

noncapital expenditures 6.5% 6.2% �% 2.6% 4.1% 4.1%

Debt service as a percentage of

total expenditures 5.6% 5.4% 3.9% �% 3.6% 3.6%

Notes: The On-Behalf payments made to the state to TRS have not been included in this schedule.

•• Expenditures were reclassifed in 2010. Amounts in years prior to 201 0 have not been reclassified accordingly.

- 81 -

2007 2006 2005 2004

$ 32,1 34,1 37 $ 29,062,903 $ 27,596,072 $ 27,447,372 8,047,284 7,002,190 7,918,759 6,792,960

280,010 279,121 265,412 273,264 255,249 85, 1 1 7 102,048 108,310

16,381 ,620 14,408,084 1 3,606,458 12,830,100 5,167,564 5,057,501 4,573,469 4,469,149 3,567,440 3,302,587 2,91 5,894 2,908,547 1 ,356,609 1 ,260,658 1 ,041 ,502 1 ,490,41 8

9,012 1 3,611 9,144 7,737 3,1 30,959 2,991 ,01 3 3,622,187 3,545,606

1 ,427,162 4,960,732 81 ,793 136,614 742,879 5,842,906 2,370,814 4,425,783

870,000 1 ,210,000 1 ,21 5,798 1 ,640,990 1 ,768,231 1 ,817 ,781 1 ,876,193 1 ,969,054

$ 75,138,176 $ 77,294,204 $ 67, 195,543 $ 68,045,904

3.9% E:.Q% 5.3% 6.4%

3.5% 3.9% �% 5.3%

2013

Excess of revenues over (under) expenditures $ (3,397,985) $

Other Financing Sources (Uses) General long-tenn debt issued Transfer to Paying Agent Premium on Bonds Sold . Accrued Interest on Bonds Sold Sale of capital assets . Proceeds from Capital Leases Proceeds from Loan Transfers in 2,741 ,006 Transfers out {2,741 006)

Total other financing sources (uses)

Net change in fund balances $ (3,397 ,985) $

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 Other Financing Sources and Uses and Net Change in Fund Balances

Governmental Funds Last Ten Fiscal Years

Fiscal Year 2012 2011 2010 2009 2008 2007

(6,4 70,389) $ (6,240,868) $ (3,495, 175) $ 2,369,762 $ 6,443,105 $ (714,149) $

. 15,000,000 13,500,000 15,400,000 . . (13,779,102) (14,915,356) . 446,780 . 903,298 . . 25,003 52,207 . . .

1 ,558,982 1 ,386,739 146,651 983,737 492,522 520,048 {1 558 982) {1,386,739! {146 651! {983 737) {492,522! {5�0,048) . 15,000,000 192,681 1 ,440,149

(6,470,389) $ (6,240,868) $ 1 1,504,825 $ 2,562,443 $ 6,443,105 $ 726,000 $

- 82 -

2006 2005 2004 2003

3,943,860 �926,327 $ (1 ,130,732) $ (624,065)

. 875,751

41 1 ,093 290,061 212,796 165,692 (41 1 ,093) (290,061) (212,796) (165,692)

875,751

3,943,860 $ 4,926,327 $ (254,981) $ (624,065)

C RYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 Assessed Value and Actual Value of Taxable Property


LEVY ASSESSED VALUATION YEAR RESIDENTIAL FARMS COMMERCIAL INDUSTRIAL MINERAL

201 2 $ 1 ,393,055,862 $ 1 0,673,652 $ 252,824,788 $ 93,798,370 $ 2 ,229,676 201 1 1 ,550,596,232 1 1 ,779,41 6 280,460,854 1 02,994,247 2, 1 51 ,631 201 0 1 ,661 ' 1 00,368 1 2,394,980 31 8,346,902 1 1 5,684,403 2,089, 1 64 2009 1 ,825, 1 55,771 1 2,549,91 8 331 ,603,240 1 1 5,51 4,536 2,061 ,403 2008 1 ,846,935,945 1 2,238,41 6 334,495,448 1 1 5,587,839 2, 1 28,474 2007 1 ,797,864,441 1 1 ' 1 54,457 306, 1 86,321 1 09,476,237 2,304,685 2006 1 ,672,21 1 ,825 1 0,814, 1 38 294,646,795 1 04,302, 1 94 2,868,91 2 2005 1 ,556,309,806 1 0, 1 64, 1 1 4 275,682,237 1 00 ,561 ,340 2,975,497 2004 N/A* N/A* N/A* N/A* N/A* 2003 N/A* N/A* N/A* N/A* N/A*

N/A* - Breakout by type not available prior to 2005

Source: Office of the McHenry County Clerk Note: The county assesses property at approximately 33.3% of actual value for all types of real property. Estimated actual value is calculated by dividing assessed value by that percentage. Tax rates are per $1 00 of assessed value.

- 83 -

TOTAL ESTIMATED ASSESSED ACTUAL

RAILROAD VALUE VALUE

$ 2,260,904 $ 1 ' 754,843,252 $ 5,264,529, 756 2,001 ,409 1 ,949,983, 789 5,849,951 , 367 1 ,885,500 2 , 1 1 1 ,501 ,31 7 6,334,503,951 1 ,51 3,592 2,288,398,460 6,865, 1 95,380 1 ,261 ,035 2,31 2,647, 1 57 6,937,941 ,471 1 ' 1 56, 1 92 2,228, 1 42,333 6,684,426,999 1 ' 1 72,41 1 2,086,01 6,275 6, 258,048,825 1 ' 1 78,91 9 1 ,946,871 ,91 3 5,840,61 5, 739 N/A* 1 ,768,353,71 6 5,305,061 ' 1 48 N/A* 1 ,631 ,297,695 4,893,893,085

- 84 -

T H I S PAGE I S I NTENT I ON A L L Y L E F T B L ANK

Fiscal Year

201 2 201 1 201 0 2009 2008 2007 2006 2005 2004 2003

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 Direct and Overlapping Property Tax Rates

Last Ten Fiscal Years (rate per $100 of assessed value)

Overlappin� Rates a

District Direct Rates Algonquin General Capital McHenry Road &

Purposes Purposes Total County Bridge

3.735 0.213 3.948 0.996 0. 1 63 3.252 0. 181 3.433 0.888 0 . 145 2.947 0 . 160 3. 1 07 0.793 0 . 127 2.61 2 0.1 1 7 2.729 0.716 0 . 1 1 7 2.559 0. 1 1 4 2.673 0.701 0.1 1 5 2.546 0 . 1 1 3 2.660 0.687 0. 1 12 2.597 0.1 33 2.730 0.706 0.1 1 5 2.639 0. 1 36 2.775 0.728 0.1 1 7 2.751 0 . 142 2.893 0.735 0 . 122 2.847 0 . 147 2.993 0.71 5 0.126

City of

Crvstal Lake

1 .367 1 .206 1 .073 1 .014 0.979 0.983 0.974 0.927 0.882 0.796

Crystal Lake Park Algonquin

District Township

0.460 0.074 0.41 4 0.066 0.376 0.058 0.352 0.053 0.346 0.052 0.343 0.051 0.354 0.052 0.356 0.053 0.371 0.055 0.377 0.057

High Community School College

Dist. 1 55 Dist. 528

2.645 0.392 2.298 0.339 2.035 0.304 1 .905 0.274 1 .865 0.269 1 .821 0.263 1 .870 0.274 1 .902 0.292 1 .978 0.303 2.043 0.31 3

Source: McHenry County Clerk's Office

Note: The totals depicted reflect the typical tax rates for individual taxpayers within the District. By showing all other overlapping rates, we would have materially distorted the true picture of tax rate burden within the District.

- 85 -

McHenry Co Conservation

District

0.248 0.219 0. 1 96 0. 1 78 0 . 173 0. 1 74 0 . 143 0 . 149 0 . 158 0 . 173

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 Principal Property Tax Payers

Current Year and Nine Years Ago

June 30 201 3

Inland Crystal Point LLC

Skyridge PRTNS LP and LLC

Centro Bradley Crystal Lake

Walmart Real Est Business TR and Sams Real Est Business TR

Cary Corners LLC

Terra Cotta Realty Co.

Cobalt lnd Reit

TYCO Healthcare GRP LP

Sunrise IV Crystal Lake SL LLC

Northen ILL Med Center FDN

Total principal taxpayers in District

Other taxpayers in District

Total

Joseph J. Freed associates - Crystal Point Mall

Bradley Real Estate - Commons Shopping Mall

Fountains Ltd. Partnership - Retirement Complex

Tyco Healthcare Group LP - Healthcare Products

Randall Hil ls LLC - Apartment Complex

Marvin P. Poer Co. - Holiday Inn

Dayton Hudson Corporation - Bohl Farm Marketplace

Home Depot USA Inc. - Home Depot Store

Menards I ncorporated - Menards Store Sam's Real Estate Business Trust - Sam's Club Store

Total principal taxpayers in District

Other taxpayers in District

Total

Source: McHenry County Assessors Office

June 30, 2004

Note: Every reasonable effort has been made to determine and report the largest

taxpayers and to include all taxable property of those taxpayers listed.

- 86 -

Equalized Percentage

assessed of

valuation total

$ 1 4,946,836 0.85% 8,074,240 0.46%

7,91 3,608 0.45% 7,006,726 0.40%

5,833,166 0.33%

5,628,674 0.32%

5,290,303 0.30%

4,566, 1 72 0.26%

4,089,833 0.23%

3.478.793 �

$ 66,828,351 3.81%

1 ,688,014,901 96. 1 9%

$ 1 '754,843,252 1 00.00%

Equalized Percentage

assessed of

valuation total

$ 7,828,220 0.48%

7,1 57,864 0.44%

4,830,664 0.30%

4,223,851 0.26%

4,042,021 0.25%

3,51 5,840 0.22%

3,497,937 0.22%

3,477,740 0.21%

3,435,609 0.2 1 % 2,960,963 0 . 1 8%

$ 44,970,709 2.76%

1 ,586,326,986 97.24%

$ 1 ,631 ,297,695 .1.QQ.;QQ%

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 Property Tax Levies and Collections


Taxes Levied Fiscal Levy for the Tax Early Tax Year Year Fiscal Y�Si!r Extension Distribution

201 3 201 1 $ 68,1 22,255 $ 66,951 ,387 $ 32,945,91 7 201 2 2 0 1 0 66,084,164 65,61 4,249 32, 1 50,750 201 1 2009 63,760 , 1 42 62,439,089 29,91 9,528 201 0 2008 67,941 ,602 61 ,848,395 29,758,029 2009 2007 64,083,534 59,259,673 28,650,049 2008 2006 63,225, 1 84 56,950,098 25,467,621 2007 2005 59,51 6,379 54,01 9,902 26,725,821 2006 2004 56,887,627 5 1 , 1 53,2 1 4 22,323,995 2005 2003 55,886,649 48,829,678 1 3,276,503 2004 2002 51 ,529,071 46,1 38,044 22,900,908

Source: County Property Appraiser, County Clerk, and district records.

Notes: In Il l inois the Tax Levy must be set in December for taxes that will be collected in the spring and fall. Although the taxes from a single levy are collected over two fiscal years

Taxes Collected during the Fiscal Year

$ 33,924,798 33,363,095 32,434,516 31 ,758 , 1 1 5 30,533,720 31 ,442,5 1 6 27,1 76,943 28,744,51 0 35,550,073 23,202,231

they are used by District 47 only for the fiscal year they are intended to be used.

- 87 -

Taxes Collected Percentage

Amount of Tax Exteo�ion

$ 66,870,71 5 99.88% 65,51 3,845 99.85% 62,354,044 99.86% 61 ,516, 1 44 99.46% 59, 1 83,769 99.87% 56,91 0 , 1 37 99.93% 53,902,764 99.78% 51 ,068,505 99.83% 48,826,576 99.99% 46, 1 03,139 99.92%

Fiscal Year 201 3 201 2 201 1 201 0 2009 2008 2007 2006 2005 2004

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 Outstanding Debt by Type,


Median Family

General Total Income Obligation Certificates of Technology Capital Primary (thousands

Bonds Participation Loans Leases Government of dollars) $ 34,245,000 $ - $ - $ - $ 34,245,000 $ 78,468

37,670,000 37,670,000 86,331 40,825,000 40,825,000 86,331 42,785,000 42,785,000 86,331 28,635,000 28,635,000 84,935 30, 1 70,000 30, 1 70,000 75,396 31 ,370,000 31 ,370,000 78,482 31 ,235,000 31 ,235,000 76,293 31 ,945,000 500,000 32,445,000 76,293 32,505,000 1 ,000,000 1 23, 1 08 32,690 33,660,798 76,293

Note: The general population of the district is estimated as no U .S. Census Bureau data is available. The district boundaries are not coterminus with any city, township or other entity tracked by the U.S. Census Bureau. The population estimate is derived from taking the residental delivery

- 88 -

Ratio of Debt

to Median Family Income

0.23% 0.23% 0.2 1 % 0.20% 0.30% 0.25% 0.25% 0.24% 0.24% 0.23%

Population 59,670 63,584 63,584 63,584 64,842 64,842 64,842 64,842 64,842 64,842

Debt per

Capita 574 592 642 673 442 465 484 482 500 51 9

- 89 -

THIS PAGE IS INTENTIONA LLY LEFT BLANK

Fiscal

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 Ratios of General Bonded Debt Outstanding


Ratio of Estimated Estimated

General Less: Amounts Actual Taxable Actual Taxable Obligation Available in Value of Value of

Year Bonds Debt Service Fund Total Property . . Property Population 201 3 $ 34,245,000 $ (1 ,039,003) $ 33,205,997 $ 5,264,529,756 201 2 37,670,000 (1 ,040,408) 36,629,592 5,849,951 ,367 201 1 40,825,000 (870,758) 39,954,242 6,334,503,951 201 0 42,785,000 (877,070) 41 ,907,930 6,865,1 95,380 2009 28,635,000 28,635,000 6,937,941 ,471 2008 30,1 70,000 30,1 70,000 6,684,426,999 2007 31 ,370,000 31 ,370,000 6,258,048,825 2006 31 ,235,000 31 ,235,000 5,840,61 5,739 2005 31 ,945,000 31 ,945,000 5,305,061 ' 148 2004 32,505,000 32,505,000 4,893,893,085

Notes: The general population of the district is estimated as no U.S. Census Bureau data is available. • The district boundaries are not coterminus with any city, township or other entity tracked by the U.S. Census Bureau. The population estimate is derived from taking the residental mail delivery addresses in the district times an assumed 2.5 persons per household.

0.63% 59,670 0.63% 63,584 0.63% 63,584 0.61% 63,584 0.41 % 64,842 0.45% 64,842 0.50% 64,842 0.53% 64,842 0.60% 64,842 0.66% 64,842

Per Capita

556 576 628 659 442 465 484 482 493 501

•• Estimated Actual Taxable Values are for the most recent levy year as they relate to fiscal year (e.g . , 201 1 levy is used for fiscal 201 2) ••• Amounts not available from 2009 and prior.

- 90 ·

CRYSTAL LAKE COM M U N ITY CONSOLIDATED SCHOOL DISTRICT NO. 47 Direct and Overlapping Governmental Activities Debt

As of June 30, 201 3

Direct and

Overlapping Bonded Debt Overlapping Bonded

Jurisdiction overla��ing government Outstanding Percent Debt McHenry County $0 ( 1 ) 22.222% $0

McHenry County Conservation District 1 32 , 965,000 22.222% 29,547,968

High School District Number 1 55 3,483,475 (2) 64.851 % 2 ,259,073

McHenry College District #528 0 ( 1 ) 24.572% 0

Cary Park District 665,595 (1 )(3) 8.560% 56,976

Crystal Lake Park District 2 ,020,51 5 (3) 97.1 1 3% 1 ,962 , 1 91

Huntley Park District 7, 766,000 (3) 7.641 % 593,364

Algonquin Library District 4 ,320,000 1 5.948% 688,938

Huntley Fire Protection District 0 ( 1 ) 6.01 8% 0

Algonquin Lake in the H ills Fire District 0 (1 ) 6.200% 0

Village of Bull Valley 0 (3) 8.230% 0

Village of Cary 0 (3) 1 0.245% 0

Village of Cary Special Service Area #1 0 (4) 74.61 4% 0

City of Crystal Lake 27,755,000 (5) 97.1 88% 26,974,41 7

Village of Lake in the H il ls 6,535,000 23.285% 1 ,521 ,680

Village of Lakewood 0 (3) 97.1 60% 0

Village of Prairie Grove 660,000 29.401 % 1 94.046

Total overlapping governments 63,798,653

Direct Debt:

School District #4 7 21 ,970,000 (1 ) 1 00.000% 21.970.000

Total Debt �85 Zfl6 65J

( 1 ) Excludes debt certificates and/or notes.

(2) I ncludes original principal amounts of outstanding General Obl igation Capital Appreciation Bonds

(3) Excludes principal amounts of outstanding General Obligation Alternate Revenue Source Bonds

which are expected to be paid from sources other than general taxation.

(4) Excludes Special Tax bonds that are taxed individualy and for which McHenry County shows no levy.

(5) Excludes I l l inois Environmental Protection Agency loan(s).

Source: Office of the McHenry County Clerk

Sources: Taxable value data used to estimate appl icable percentages provided by the County Property Appraiser. Debt outstanding data provided by each governmental unit . Notes: Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the district. This schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses of the district. This process recognizes that, when considering the d istrict's abil ity to issue and repay long-term debt, the entire debt

a The percentage of overlapping debt appl icable is estimated using taxable property values. Applicable percentages were estimated by determining the portion of another governmental unit's taxable value that is within the district's boundaries and d ividing it by each unit's total taxable value.

- 91 -

Statutory Debt Limitation

2013 Assessed valuation $ 1 '754,843,252

Statutory debt limitation (0.069% of assessed valuation) 1 21 ,084,184

Bonded Debt June 30 34.245,000

Legal bonded debt margin $ 86,839,184

Total net debt applicable to the limit as a percentage of debt limit 28.28%

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 Legal Debt Margin Information


2012 201 1 2010 Fiscal Year

2009 2008 2007 $ 1 ,949,983,789 $ 2,1 1 1 ,501 ,317 $ 2,288,398,460 $2,312,647,157 $ 2,228,142,333 $ 2,086,016,275

1 34,548,881 145,693,591 1 57,899,494 159,572,654 153,741 ,821 143,935,123

37,670,000 40.825.000 42,785,000 28,635,000 30.170.000 30,455,000

$ 96,878,881 $ 1 04.868,591 $ 1 1 5, 1 14,4_94 $ 1 30,937,654 $_ 123,571 .821 $ _!!M8Jl,123

28.00% 28.02% 27.10% 17.94% 19.62% 21 . 16%

Note: Debt limitation is established by the INinois General Assembly and promulgated by the ll�nois Compiled Statutes.

· 92 .

2006 2005 2004 $ 1 ,946,871 ,913 $ 1 ,768,353,716 $ 1 ,631 ,297,695

134,334,162 122,016,406 1 1 2,559,541

31 ,235,000 31 .945,000 32,505,000

$ 103.099.162 $ 90,071 ,406 $ 80,054,541

23.25% 26.18% 28.88%

C RYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 Demographic and Economic Statistics

Calenda r

Year

201 3 201 2 201 1 201 0 2009 2008 2007 2006 2005 2004

Notes:

Last Ten Calendar Years

Population a

59,670 $ 63, 584 63, 584 63, 584 64,797 64, 842 64, 842 64,842 64, 842 64, 842

Median Family

lncomeb d

(thousands of dollars)

74,468 86,331 86,331 86,331 84,935 75,396 78,482 76,293 76,293 76,293

$

a Source: Demographic Book of Zip Codes 23rd Edition 2009 b Source: Demographic Book of Zip Codes 23rd Edition 2009

c I llinois Department of Employment Security

- 93 -

Per

Capita Personal Unemployment

I ncome Rate c

1 ,3 1 5 8.4% 1 ,358 9 .3% 1 ,358 1 0 .0% 1 ,358 9.8% 1 ,3 1 1 1 0.9% 1 ' 1 63 6 .8% 1 ,2 1 0 6 .8% 1 , 1 77 3 . 7% 1 ' 1 77 5. 1 % 1 , 1 77 5.2%

C RYSTAL LAKE COMMUNITY C ONSOLIDATED SCHOOL DISTRICT NO. 47 Principal Employers

Employer

The District High School District Number 1 55 Triumph Twist Drill Co. Inc. Crystal Lake Park District TC Industries, Inc. Jewel Foods Store McHenry County College City of Crystal Lake Fountains by Sunrise Knaack LLC Althoff Industries Baxter & Woodmam, Inc.

* Includes seasonal and part-time **Excludes part-time employees

Current Year and Nine Years Ago June 30 , 201 3

Product or Service

Elementary/middle school education High school education Tool cutting & metal work machinery Parks & Recreation Commercial heat treating & agriculture products Grocer Higher education Government, part-time & seasonal Senior healthcare Steel chests, boxes & work benches Electrical , mechanical building automation Civil engineering services for municipal ities, sanitary districts & country governments

Sources: ( 1 ) 201 3 I l l inois Manufacturers' Directory (2) 201 3 I l l inois Service Directory (3) 201 3 Harris I l l inois Industrial Directory ( 4) Phone Canvass

Employer

Precision Twist Drill Co. Tyco Healthcare Knack Manufacturing T.C. Industries, Inc. Northwest Herald Black Dot I ncorporated City of Crystal Lake Althoff Industries Eisenmann Corp.

Principal Employers in the District Nine Years Ago June 30, 2004

Product or Service

Twist dril ls Disposable Medical Products Storage equipment Steel work Newspaper Phototypsetting City Government Electrical/Plumbing Contractor Ceramic Equipment

- 94 -

Number of Employees

201 3 Sources

1 , 1 00 4 748 4 500 3

495* 4 400 1 330 4

308** 4 283 4 275 4 260 1 250 2 1 90 2

Number of Employees

2004

500 490 400 258 250 250 236 223 1 75

C.O_R.E. Center Administrators Principals Assistant Principals

Total supervisory Instruction

Elementary classroom teachers Middle School classroom teachers Gifted Program teachers Special Education teachers Special Education aides Social Workers/Psychologist Other teachers (adult) Aides

Total instruction Student Services

Nurses Aides Librarians Technology Support Staff

Total student services Support and Administration

Clerical/secretarial Bookkeeping/Prinling/Warehouse Lunch Program - Cooks Custodial School Grounds and Maintenance

Total support and administration

Total

Source: District Personnel Records

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 Full-time-Equivalent District Employees by Type.


.2Q.U 2ll.1.2 2Q11 .2l!1Q. 2QQa � 2Ql!Z .2ll.Q§. 1 6 1 6 1 5 1 8 1 7 1 6 1 5 1 3 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1 2

____14 ___ 1_4 _____ll � � ___ 1_5 -----..12 ___ 1_5 42 42 41 45 44 43 42 40

225 228 249 280 279 270 266 267 1 39 147 187 181 1 54 1 54 1 54 1 54

9 9 9 1 0 1 5 1 5 1 3 1 4 79 80 78 58 69 69 70 68

174 182 193 244 236 1 79 186 1 29 43 40 37 39 38 32 28 28 94 86 85 82 82 78 66 65 2§ _______1Q -21 ___ 1 � ___ 3_0 ___ 2_8 ___ 3_5

789 792 862 895 903 827 81 1 760

1 3 9 5 5 5 5 4 4 5 1 3 1 2 1 2 1 2 1 2 1 2 1 2

1 2 1 2 1 2 1 2 12 12 1 2 1 2 1:2 ___ 1_8 _____1d ______jJ! _____.1.2. � ______ll ___ 7 45 52 47 48 45 47 45 35

36 39 40 40 35 35 30 30 8 7 9 9 1 0 1 0 1 3 1 0 2 4 5 5 5 5 7 8

45 45 45 47 47 47 45 45 12 ______ll ______ll ___ 1_5 � _____!Q � ___ 1_3

107 1 1 2 1 1 6 1 1 6 1 1 3 1 1 2 1 08 106

983 � � � ----1r.!Q2. � � _ ____w_

- 95 -

Percentage Change

� 2llQ1 � 1 3 1 3 23.08% 1 2 1 2 0.00%

___ 1_5 ___ 1_5 ::Mlli 40 40 5.00%

266 269 -16.86% 1 54 1 54 -9.93%

1 4 13 -30.77% 56 55 42.86%

1 1 8 1 1 3 62.89% 27 28 68.18% 64 62 54.24%

___ 3_1 ___ 4_5 -40.43% 730 739 7.08%

4 4 225.00% 1 2 12 -58.33% 1 2 1 2 0.00% ___ 6 ___ 6 � 34 34 33.33%

30 31 16.13% 9 9 -1 1 .1 1 % 8 9 -77.78%

45 47 -4.26%

___ 1_3 ___ 1_3 33.33% 105 1 09 -1 .90%

_!1Q§1. � 6.90%

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 Operating Statistics,


Percentage of Students Receiving

Average Cost Pupil- Free or Fiscal Daily Operating per Percentage Teaching Teacher Reduced-Price Year Attendance Expenditures Pupil Change Staff Ratio Meals

201 3 7,661 $ 70,934,31 8 $ 9,259 -2.0% 601 1 2.6 23.6%

201 2 7,435 70,2 1 1 , 1 64 9,443 -1 . 7% 620 1 2.6 1 5.2%

201 1 7,582 72,81 8,953 9,604 -0.7% 645 1 2.6 1 4.9%

2010 7,783 75,305,733 9,676 8.0% 650 1 3.1 1 4.8%

2009 8, 1 87 73,359,561 8,960 7 . 1 % 637 1 3.1 1 2.2%

2008 8, 299 69,409,368 8,364 3.3% 6 1 8 1 4.8 8.5%

2007 8,338 67,509 , 1 99 8,097 3.2% 597 1 5.6 9.5%

2006 8,385 65,764,661 7,843 1 0.8% 637 1 4 . 7 9.0%

2005 8,328 58,927,276 7,076 2 .4% 600 1 5.6 8.8%

2004 8,328 57,531 ,323 6,909 -0.9% 591 1 5.8 8.5%

Source: Nonfinancial information from district records.

- 96 -

School Elementary Canterbury K-5 ( 1 971)

Square feet Enrollment Capacity

Coventry K-5 ( 1 967)


Glacier Ridge K-5 (2001 )


Husmann K-5 ( 1 949)


Indian Prairie K-5 ( 1 99 1 )


North K-5 (1 954)


South K-5 ( 1 953)

Square feet . Enrollment Capacity

West K-5 ( 1 963)


Woods Creek K-5 (1 997)


CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 Capital Asset Information

Last Ten fiscal Years

Fiscal Year 201 3 2012 201 1 201 0 2009 2008

51 , 1 02 51 ,1 02 51 ' 1 02 51 , 1 02 51 ' 1 02 51 , 1 02

525 494 51 1 539 51 5 502

660 660 660 660 660 660

68,805 68,805 68,805 68,805 68,805 68,805

478 489 5 1 8 551 522 525

660 660 660 660 660 660

96, 1 52 96, 1 52 96,1 52 96, 1 52 96. 1 52 96,152

626 726 666 751 830 878

870 870 870 870 870 870

81 ,086 81 ,086 81 ,086 81 ,086 81 ,086 81 ,086

598 6 1 9 631 623 634 640

690 690 690 690 690 690

76,740 76,740 76,740 76,740 76,740 76,740

558 589 598 639 643 640

840 840 840 840 840 840

71 ,772 71 ,772 71 ,772 71 ,772 71 ,772 71 ,772

661 639 676 71 1 737 762

960 960 960 960 960 960

62,408 62,408 62,408 62,408 62,408 62,408

447 480 440 472 459 486

870 870 870 870 870 870

70, 1 76 70.1 76 70, 1 76 70,1 76 70. 1 76 70,1 76

6 1 0 637 694 707 707 729

930 930 930 930 930 930

71 ,690 71 ,690 71 ,690 71 ,690 71 ,690 71 ,690

582 61 7 642 682 730 769

870 870 870 870 870 870

- 97 -

2007 2006 2005 2004

5 1 ' 1 02 51 , 1 02 51 , 1 02 51 ' 1 02

470 448 454 450

660 660 660 660

68,805 68,805 68,805 68,805

573 550 546 577

660 660 660 660

96, 1 52 96,152 96, 1 52 96, 1 52

885 871 884 845

870 870 870 870

81 ,086 81 ,086 81 ,086 81 ,086

563 583 568 601

690 690 690 690

76,740 76,740 76,740 76,740

690 723 743 743

840 840 840 840

71 ,772 71 ,772 71 ,772 71 ,772

877 881 900 81 3

960 960 960 960

62,408 62,406 62,406 62 ,406

489 512 523 539

870 870 870 870

70,1 76 70,1 76 70,1 76 70,1 76

752 759 725 708

930 930 930 930

71 ,690 71 ,690 71 ,690 71 ,690

780 8 1 6 824 857

870 870 870 870

CRYSTAL LAKE COMMUNITY CONSOLIDATED SCHOOL DISTRICT NO. 47 Capital Asset Information

Middle School Hannah Beardsley 6-8 (1 995)


Lundahl 6-8 (1 958)


Richard Bemotas 6-8 (1 969)


Administrative Robert Blazier Core Center

Square feet

Other Operations Building

Square feet

Source: District records.

Notes: Capacity Information reported for fiscal year ended 201 0 Renovated/rebuilt schools include information only after renovations/rebuilding.

Enrollment information is Last Day Enrollment

201 3

1 1 9,055

1 ,041

1 ,320

1 1 7,0 1 7

926

1 ,230

1 1 1 ,620

986

1 ,350

201 3

22,008

20,586

Last Ten fiscal Years

2012 201 1

1 1 9,055 1 1 9,055

966 972

1 ,320 1 ,320

1 1 7,01 7 1 1 7,01 7

1 ,000 999

1 ,230 1 ,230

1 1 1 ,620 1 1 1 ,620

1 ,027 1 ,004

1 ,350 1 ,350

2012 201 1 --,-

22,008 22,008

20,586 20,586

- 98 .

201 0

1 1 9,055

1 ,033

1 ,320

1 1 7,01 7

976

1 ,230

1 1 1 ,620

1 ,044

1 ,350

2010

22,008

20,586

Fiscal Year 2009 2008

1 1 9,055 1 1 9,055

1 ,079 1 ,1 07

1 ,320 1 ,320

1 1 7,01 7 1 1 7,01 7

932 1 ,000

1 ,230 1 ,230

1 1 1 ,620 1 1 1 ,620

1 , 1 07 1 , 1 02

1 ,350 1 ,350

Fiscal Year 2009 2008

22,008 22,008

20,586 20,586

2007 2006

1 1 9,055 1 1 9,055

1 , 1 23 1 ,1 22

1 ,320 1 ,320

1 1 7,01 7 1 1 7,01 7

1 ,023 1 ,030

1 ,230 1 ,230

1 1 1 ,620 1 1 1 ,620

1 ,091 1 ,029

1 ,350 1 ,350

2007 2006

22,008 22,008

20,586 20,586

2005 2004

1 1 9,055 1 1 9,055

1 ,1 42 1 , 1 74

1 ,320 1 ,320

1 1 7,01 7 1 1 7,01 7

1 ,036 1 ,032

1 ,230 1 ,230

1 1 1 ,620 1 01 ,995

994 954

1 ,350 1 ,320

2005 2004

22,008 22,008

20,586 20,586

THIS PAGE IS INTE NTIONAL L Y LE F T BLANK

crystal lake community consolidated school district …€¦ · kevin werner, chief financial...

Documents