the school district of georgetown county
TRANSCRIPT
The School District
of Georgetown
CountyComprehensive Annual
Financial ReportFISCAL YEAR ENDED JUNE 30, 2019GEORGETOWN, SOUTH CAROLINA
THE SCHOOL DISTRICT OF GEORGETOWN COUNTY
GEORGETOWN, SOUTH CAROLINA
COMPREHENSIVE
ANNUAL FINANCIAL REPORT FOR THE
FISCAL YEAR ENDED JUNE 30, 2019
Issued By Business Services Department of
The School District of Georgetown County
Lisa O. Johnson, CPA Associate Superintendent for Finance and Technology
H. Randall Dozier, Ph.D.
Superintendent
THE SCHOOL DISTRICT OF GEORGETOWN COUNTY TABLE OF CONTENTS Page INTRODUCTORY SECTION
Letter of Transmittal from Administration 1-7
Organizational Chart 8
Principal Officials 9
Certificate of Achievement for Excellence in Financial Reporting 10 FINANCIAL SECTION
Independent Auditors' Report 11-12
Management's Discussion and Analysis 13-19 Basic Financial Statements Statement of Net Position 20
Statement of Activities 21
Balance Sheet - Governmental Funds 22
Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position 23
Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds 24
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities 25
Budgetary Comparison Statement - General Fund 26
Statement of Net Position - Proprietary Fund 27
Statement of Revenues, Expenses and Changes in Fund Net Position - Proprietary Fund 28
Statement of Cash Flows - Proprietary Fund 29
Statement of Fiduciary Assets and Liabilities – Fiduciary Fund 30
Notes to Financial Statements 31-67 Required Supplementary Information Schedule of District’s Proportionate Share of the Net Pension Liability – SCRS & PORS 68
Schedule of District Contributions – SCRS & PORS 69
Schedule of District’s Proportionate Share of the Net OPEB Liability – SCRHITF 70
Schedule of District Contributions – SCRHITF 71
FINANCIAL SECTION (Continued) Page Combining and Individual Fund Statements and Schedules General Fund Balance Sheet 72
Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual 73-79 Special Revenue Funds Balance Sheet - Special Projects 80
Combining Schedule of Revenues, Expenditures and Changes In Fund Balance - Special Projects 81-88
Summary Schedule for Designated State Restricted Grants - Special Projects 89
Balance Sheet - Education Improvement Act 90
Combining Schedule of Revenues, Expenditures and Changes In Fund Balance – Education Improvement Act 91-95
Summary Schedule by Program - Education Improvement Act 96 Debt Service Fund Balance Sheet 97
Schedule of Revenues, Expenditures and Changes in Fund Balance 98-99 Capital Projects Fund Balance Sheet 100
Schedule of Revenues, Expenditures and Changes in Fund Balance 101-102 Enterprise Fund – Food Service Balance Sheet 103
Schedule of Revenues, Expenditures and Changes in Fund Balance 104-105 Fiduciary Fund Schedule of Fiduciary Assets and Liabilities 106
Schedule of Receipts, Disbursements and Changes in Amounts Due to Pupil Activities 107-108
Schedule of Changes in Assets and Liabilities – Fiduciary Fund 109 Supplementary Schedules Detailed Schedule of Due to State Department of Education/Federal Government 110
Location Reconciliation Schedule 111-112
Special Projects - Subfund Code List 113
FINANCIAL SECTION (Continued) Page STATISTICAL SECTION (UNAUDITED) Net Position by Component 114
Changes in Net Position 115
Fund Balances, Governmental Funds 116
Changes in Fund Balances, Governmental Funds 117
Assessed Value and Estimated Actual Value of Taxable Property 118
Direct and Overlapping Property Tax Rates 119
Principal Property Taxpayers 120
Property Tax Levies and Collections 121
Ratios of Outstanding Debt 122
Ratios od General Bonded Debt Outstanding 123
Direct and Overlapping Governmental Activities Debt 124
Legal Debt Margin Information 125
Demographic and Economic Statistics 126
Principal Employers 127
Full-Time Equivalents (FTE) Employees by Type 128
Number of Students Per Teacher 129
Nutrition Services - Facts and Figures 130
Teachers Salary Ranges 131
Expenditures by Function - General Fund 132
Expenditures by Function Per Pupil - General Fund 133
Capital Asset Information - Summary 134
Capital Asset Information - Detail 135-140 SINGLE AUDIT SECTION
Independent Auditors’ Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards 141-142
Independent Auditors' Report on Compliance on Each Major Program and on Internal Control Over Compliance Required by the Uniform Guidance 143-144
Schedule of Expenditures of Federal Awards 145-146
Notes to the Schedule of Expenditures of Federal Awards 147
Schedule of Findings and Questioned Costs 148-149
Summary Schedule of Prior Audit Findings 150
Corrective Action Plan 151
INTRODUCTORY SECTION
December 2, 2019 To the Citizens and Board of Education of The School District of Georgetown County Georgetown, South Carolina The Comprehensive Annual Financial Report (CAFR) of The School District of Georgetown County for the fiscal year ended June 30, 2019 is hereby submitted. The responsibility for both the accuracy of the data, and the completeness and fairness of the presentation, including all disclosures, rests with the District. To the best of our knowledge and belief, the enclosed data is accurate in all material respects and is reported in a manner designed to present fairly the financial position and results of operations of the various funds of the District. All disclosures necessary to enable the reader to gain an understanding of the District's financial activities have been included. This letter of transmittal is designed to complement the MD&A and should be read in conjunction with it. The School District is required to undergo an annual single audit. Information related to this single audit such as the auditor opinions and comments, which go beyond the standard opinions, and comments usually presented in audit reports are included in the Single Audit Section of this report. The District meets the criterion of a primary government as defined by GASB Statement 14, as amended by GASB Statements No. 39 and No. 61. The nine elected Board members have general management control and supervision of all phases of public school education throughout the District. In addition, Board members are accountable for District fiscal matters. The District is not included in any other reporting entity. The 1,335 full-time and part-time employees of the District provide comprehensive educational services for 8,925 K-12 students, 161 adults and 380 Pre-K 3 & 4 year olds. These educational services range from child development (3 and 4 year olds) to a full program of basic and continuing education for adults. The District's physical plant has 18 schools, 1 alternative school, 1 vocational center, 1 adult center, and 1 Coastal Montessori Charter school with 271 students which houses grades 1 – 8. The projected enrollment for school term 2019-20 is 8,879 including Coastal Montessori Charter School’s projection of 279 students in grades K-12. The District and its schools are fully accredited by the South Carolina Department of Education and AdvancED. Accreditation from these institutions is the highest recognition of quality for a public school district in South Carolina. The District has four distinct attendance areas: City of Georgetown, Town of Andrews, Carvers Bay and Waccamaw Neck. The county’s population for 2018 was about 62,200 with a growth rate of 0.66%. Coastal Montessori Charter School is a nonprofit operating under a charter granted by the District and is considered, under South Carolina Law, to be a public school and part of the District. It is administered and governed by its governing body as agreed to by the charter applicant and the District. The governing body is elected annually. The South Carolina Department of Education regulations require that charter schools be discretely presented in the financial statements. All accounting policies and reporting requirements applicable to the District were equally adopted at the Charter School reporting level. The Charter School receives a proportionate amount of local, state, and federal revenues through formulas set by the state. Since the Charter School is legally separate from the District, it publishes its own financial statements that are available upon request from Coastal Montessori Charter School. The District’s oldest building is a part of the Maintenance Department dated 1908 and our most recent building occupied is Waccamaw Intermediate School dated 2008. The average age of all district buildings is 42 years.
1
The detailed summary of significant accounting policies for the District is included in Note 1 of the financial statements beginning on page 31. ECONOMIC CONDITION AND OUTLOOK Location and Agriculture Georgetown County is located in the southeastern coastal region of South Carolina. The County is bordered by Horry County to the north, Williamsburg County to the west, Charleston and Berkeley Counties to the south, and the Atlantic Ocean to the east. Population centers in the County include the City of Georgetown (the county seat), the Town of Andrews in the western portion of the County, and Murrells Inlet in the northern portion of the County, approximately 11 miles south of Myrtle Beach. The County ranks ninth in the State in land area. Its total area is 1,035 square miles, 79% of which is land and 21% of which is water. As of 2015, the latest date for which information is available, approximately 73% of the land in the County is forested. The delivered value of timber harvested in the County in 2015 was $57.4 million. The County ranked second in the state in 2015 for delivered value of timber. As of 2017, approximately 12% of the land area in the County is used for farming agriculture. Principal farm products produced in the County include; corn for grain, soybeans, tobacco, peanuts, cattle, and eggs. In 2018, we had a steady increase of employment from a majority of our existing industries. International Paper, SafeRack, Envirosep and Interfor Lumber led the way. With the unemployment rate at a historical low, the critical limiting factor for future growth will be workforce. Horry Georgetown Technical College broke ground on the Advanced Manufacturing Center and plans to be operational in 2019. Building permit and impact fee collection trends continue to reflect strong growth along the Waccamaw Neck area. Tourism has increased at an impressive pace and has generated fees due to the activities. Local and state data gives recent analysis every reason to think that the immediate and short-term economic outlook for Georgetown County is bright. Commerce, Tourism, and Industry Georgetown is the oldest continuously open seaport on the eastern seaboard. It is known as a shallow-draft port, with a water level of approximately 19 feet. This is a break-bulk port that imports salt, cement, wire, aluminum, forest products and limestone. The Port of Georgetown is the South Carolina State Ports Authority's dedicated break-bulk and bulk facility. In recent years tourism has become a vital contributor to the local economy. According to the South Carolina Department of Parks, Recreation, and Tourism, domestic travelers spent $371.66 million in the County in 2018. This level of tourism results in $15.2 million in local tax receipts, and $64.2 million in payroll for approximately 3,340 employees. The County contains two state parks that draw tourists: Huntington Beach State Park and Hampton Plantation State Park. The County has 35 miles of white-sand beaches and 14 golf courses. A number of upscale residential communities have been and continue to be developed around the coastal areas of the County. Wachesaw Plantation, Wilbrook Plantation, DeBordieu Colony, Pawley’s Plantation and Heritage Plantation are a few of these developments. According to S.C. Department of Employment and Workforce, the unemployment rate in Georgetown County was 2.2% in September of 2019. The South Carolina average unemployment rate was 2.9%. This is the first time ever that the unemployment rate dropped below 3% and the first time in more than 10 years that the county unemployment rate was lower than the state average. Our total employment is 25,361 compared to 24,207 in October 2016. Median household income remains higher than the state average and continues to grow at a sustainable rate. The increased employment is due to our existing employers adding positions, especially in our manufacturing and industrial sector; as well as, the growth of the Charleston Metro to our south and the Myrtle Beach Metro to our north.
2
SafeRack, LLC, a leader in truck, railcar, and industrial safety completed an expansion, giving them over 200,000 square feet of manufacturing space and provides over 300 jobs to the county. SafeRack manufactures industrial safety products and provides turnkey services that improve worker safety and productivity in truck, railcar, and industrial loading applications. As of June 30, 2019, MPW Industrial Services, a company that provides a variety of industrial cleaning, water purification, facility management, and environmental management services, employed 75 employees. The original plan only included 32 new jobs for the county. Liberty Steel re-opened the Arcelor-Mittal steel mill facility in 2018 and has hired approximately 150 employees with wages averaging $90,000 per year. Plans for the future include investing an additional $25 million to refurbish and update the mill. BUDGET PROCESS The School District of Georgetown County began preparation of the 2018 - 2019 budget in September 2017. It incorporates needs expressed by parents, students, administrators, teachers, supervisors, other employees, Board members, and the Strategic Planning Team. Faculty committees, school improvement councils, and District staff reviewed identified needs. The Board's work on this budget began at a meeting in January 2018 followed by several Board Work Sessions. The budget was carefully constructed to allow continuation of necessary and successful programs and the design and implementation of new and innovative approaches to instruction. The Board adopted the budget on June 12, 2018. The General Fund budget is the only legally adopted budget for the District. MAJOR EVENTS, PROGRAMS AND INITIATIVES:
Capital Projects The District continues to invest in our comprehensive facilities improvement and equipment acquisition plan. We are excited to continue to provide our students, staff, and community at large with safe, comfortable and aesthetic facilities, while providing innovative equipment in the areas of technology and associated infrastructure. We are proud to work as a team to keep abreast of instructional and programmatic changes and to adapt to these changes with innovative methods and strategies to protect our students, staff and property. We believe these investments continue to enhance our student learning and encourage public interaction and support, ensuring the future success and sustainability of the District. The District issued its annual general obligation debt for technology and facility upgrades in the amount of $4.5 million. Technology equipment and infrastructure continue to make up a large portion of this year’s capital expenditure. The District purchased interactive technology for classrooms, teacher and administrative devices to continue the path of utilizing technology in the instructional process. Many of the large construction projects that would have normally been expended from these funds have moved into the $165 million bond referendum, therefore we were able to replace aging vehicles, classroom furniture, high mast lighting on athletic fields, gym floors, gym bleachers, and security infrastructure. Also, due to increasing demands on our General Operating Fund, the maintenance plan funding was diverted to the capital budget to fund required equipment and maintenance that would have normally been funded through the general fund. These funds include, asbestos abatement, testing and monitoring; football field remediation, athletic equipment, band equipment, security fencing along with many other upgrades to facilities.
3
These are exciting times in our District. Our voters approved a $165 million dollar bond referendum in November of 2016, with a 78% approval rating, based on a Districtwide Facilities Assessment. The Facilities Assessment is a compilation of work product by M. B. Kahn, Mercom, G3 Engineering, and Pike McFarland Hall Architects. We are well past the half way point of our program as of June 30, 2019. We have completed the installation of four (4) high quality, polyurethane coated tracks at each high school; we have built five (5) new auxiliary gyms at our high schools and intermediate school; we have added classroom space at Waccamaw High and Intermediate Schools; we have also completed general renovation work at all middle, intermediate and high schools; we have expedited the schedule in order to provide a complete HVAC upgrade at Kensington, McDonald, and Waccamaw Elementary Schools, along with Rosemary Middle School; we have completed partial roof replacements at Kensington and Waccamaw Elementary Schools, Howard Adult Center, and Rosemary Middle School; we have completed Phase I of the renovations at the Howard Adult Center; we have replaced carpet with tile at several sites; and, we have hired a roofing consultant to assist us with the roofing assessment and design work for all sites throughout the District. We have begun the design process for five (5) of our elementary schools, Phase II of Howard Adult Center, Facilities, and JB Beck Administration. We anticipate design drawings during the month of December. Our goal is to bid these projects early in 2020, with a completion of the majority of the work during the Summer of 2020. The school sites will receive a general renovation, with no new space being added, with the exception of Sampit Elementary School, which will receive an indoor/outdoor expansion to its’ media center and McDonald Elementary School, which will receive a cafeteria expansion. Facilities staff will receive a new building for its’ administration and majority of its’ trades. JB Beck will receive an addition primarily for Information Technology and Accountability and Assessment (records management). We have made tremendous strides Districtwide with the monies allocated to technology. We have completed the installation of our security camera system Districtwide. We are now working through the replacement of our intrusion detection system – we anticipate completion by Summer 2020. We have purchased laptops for our 9th grade population – this is year 3 of a 4 year initiative. We have placed Chromebooks in the hands of every 3rd grader through 8th grader. We have upgraded our Board room technology and broadcast abilities. We have updated infrastructure to include servers, access points, wiring in some locations, etc. We postponed the replacement of our phone system this past year, due to all of the new construction. We will now refocus our attention on that project, in addition to, developing a situation room for emergency management, as well as, several additional technology projects. We are currently on schedule and under budget for the program as a whole, having added scope at many of the sites during construction. We have since walked all of these sites with our Superintendent, District staff relative to Facilities, and school staff, developing a secondary list of additional scope projects that are currently under review for feasibility and funding. Our public has been invited and involved in our assessment process and our scope meetings, and, from all accounts, are pleased with the progress they are seeing at our sites.
Teacher of the Year Each year, the schools select a Teacher of the Year by the faculty and staff. These teachers are chosen for their exceptional teaching skills, above and beyond the call of duty, teamwork, love of teaching, professionalism, enthusiasm, innovative ideas, and overall concern for students. Of the field of 20, the top five finalists were chosen including: Monica Weaver-Linnen, Carvers Bay Middle School; Tonya Todd, Georgetown High School; Lauren Prosser, Georgetown Middle School; Mary Ann Coker, Kensington Elementary School; Nancy Randall, Waccamaw Middle School. The five finalists undergo classroom observations and interviews conducted by an interview team consisting of business and community leaders. The teachers’ final step is to develop a portfolio in which the teachers answer questions about his/her teaching philosophy and experiences. The portfolios are judged, the scores added to those compiled by the observations and interviews, and a winner is selected. At the Teacher of the Year banquet at Litchfield Beach and Golf Resort on May 9, 2019, Georgetown County School District named Tonya Todd, a teacher at Georgetown High School, as the Georgetown County School District Teacher of the Year.
4
All other District nominees for Teacher of the year were:
Andrews Elementary School Ashley Nesmith Andrews High School James B. Rowell Brown’s Ferry Elementary School Samantha Jenkins Vereen Carvers Bay High School Erica S. Smith Coastal Montessori Charter School Whitney Garner Howard Adult Center Mary Ann Owens Maryville Elementary School Kristi Rolison McDonald Elementary School Tammy Williams Plantersville Elementary School Denise Daniels Pleasant Hill Elementary School Amy Tanner Rosemary Middle School Shana M. Barrineau Sampit Elementary School Gretchen Goude Waccamaw Elementary School Louanne Jorgenson Waccamaw High School Jenna Henderson Waccamaw Intermediate School Alicia Fat
Technology Status Georgetown County School District (GCSD) consists of 19 schools and 1 administrative site. Each site is comprised of a 10Gig Local Area Network (LAN) Core. All sites are routed thru Time Warner Business Services MetroE Wide Area Network (WAN) to the District Office. The Elementary schools are connected via 100Mbps Cisco Ethernet connections with the Middle and High schools being 250Mbps. From the District Office there is a 2.5Gig connection via Spirit Communications to the South Carolina Information Network for the districtwide shared internet access. The IT Department maintains and operates the District’s Network Systems, File-Print-Application Servers and end-user devices. The District utilizes Quest’s Rapid Recovery Backup and Archiving Solution to ensure data recoveries in the event of a system failure. Microsoft’s System Center End Point (SCEP) is utilized for both server and workstation virus/malware protection. A combination of Microsoft Exchange and Office 365 is provisioned for Staff email needs. Microsoft’s Office 365 has been provisioned for the district’s student email usage. Every student has their own network login ID available to them; created automatically for the student via Microsoft’s Forefront Identity Manager (FIM) from the data entered into the district’s Student Information System (SIS) PowerSchool. The district utilizes two Meraki MX450 web security appliances for internet website content filtering and an additional layer of malware protection, as well as dual Cisco ASA 5585 Firewall’s and Cisco Umbrella for Windows device content filtering along with Lightspeed/Relay content filtering for Chromebooks. District email protection for spam, content and virus is maintained via Microsoft’s Exchange Online Protection (EOP). All GCSD staff and students have internet access made available to them and the District’s internet homepage is http://www.gcsd.k12.sc.us. The District utilizes over 250 Windows 2008 R2, 2012 R2 and 2016 physical and virtual Servers as well having over 10,000 computing devices in use throughout the district. Wireless connectivity is available in all 20 district sites and provided via @1500 Cisco/Meraki Wireless Access Points (WAP) in a high density coverage model that includes every classroom having a WAP installed overhead. The Cisco/Meraki Dashboard management system has been implemented and used daily to assist in monitoring this wireless infrastructure. Each building within the district has a LAN infrastructure comprised of Cisco gigabit POE switches connected via a backbone of fiber optic cable to the main data closet which is routed back to the district office in a star pattern. Every classroom has a minimum of 6 wired data drops available and approximately 350 switches are in use for this network infrastructure. The District implemented a Financial and Human Resource Management Software System, the Accounting+Plus Software Suite, from CSI Technology Outfitters, based in Easley, South Carolina. This system can be described as an Enterprise Resource Planning system (ERP). A widely used definition for an ERP system is as follows: a system that integrates (or attempts to integrate) all data and processes of an organization into a single unified system. A typical ERP system will use multiple components of computer software and hardware to achieve the integration. A key ingredient of most ERP systems is the use of a single, unified database to store data for the various system modules.
5
Internal Control Structure Management of the District is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the District are protected from loss, theft or misuse and to ensure that adequate accounting data are compiled to allow for the preparation of financial statements in conformity with generally accepted accounting principles. The internal control structure is designed to provide reasonable, but not absolute assurance that these objectives are met. The concept of reasonable assurance recognizes that 1) the cost of a control should not exceed the benefits likely to be derived; and 2) the valuation of costs and benefits require estimates and judgments by management.
Single Audit As a recipient of federal and state financial assistance, the District is responsible for ensuring that an adequate internal control structure is in place to ensure compliance with applicable laws and regulations related to those programs. This internal control structure is subject to periodic evaluation by management and the Business Services Department of the School District. As part of the District's single audit, tests are made to determine the adequacy of the internal control structure, including that portion related to federal financial assistance programs, as well as to determine that the District has complied with applicable laws and regulations.
Budgetary Control The District maintains budgetary controls designed to ensure compliance with legal provisions embodied in the annual appropriated budget approved by the District's Board of Education. The General Fund is the only legally adopted budget for the District. Expenditures may not legally exceed budgeted appropriations for each fund. The Superintendent or his designee is authorized to administer the budget and may approve the transfer of appropriated funds within and between the departments/programs as necessary to achieve the goals of the budget. The District maintains an encumbrance accounting system as one technique of accomplishing budgetary control. Encumbered amounts lapse at year-end.
Independent Audit State statutes require an annual audit by independent certified public accountants. The auditing firm of DarverKelly, LLP, was selected to perform the audit. In addition to meeting the requirements set forth in state statutes, the audit also was designed to meet the requirements of the federal Single Audit Act of 1984, the 1996 amendments and OMB Circular A-133, revised to include Uniform Guidance. The auditor's report on the basic financial statements and combining and individual fund statements and schedules is included in the Financial Section of this report. The auditor's reports related specifically to the single audit are included in the Single Audit Section. AWARDS
Certificate of Achievement for Excellence in Financial Reporting
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to The School District of Georgetown County for its Comprehensive Annual Financial Report for the fiscal year ended June 30, 2018. The Certificate of Achievement is a prestigious national award-recognizing conformance with the highest standards for preparation of state and local government financial reports. In order to be awarded a Certificate of Achievement, a government unit must publish an easily readable and efficiently organized comprehensive annual financial report, whose contents conform to program standards. Such Comprehensive Annual Financial Report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. The School District of Georgetown County has received a Certificate of Achievement for the last twenty-five consecutive years. We believe our current report continues to conform to the Certificate of Achievement program requirements, and we are submitting it to GFOA.
6
Looking Ahead The approved 2019-20 General Fund budget totaled $91.6 million for both revenues and expenditures, a $3.9 million increase over 2018-19. Additional tax millage as allowed by state law was approved at 5.9 mills and approximately an additional $1.7 million in revenue. Restricted State Grant Allocations through the S.C. Department of Education (SDE) were projected to increase by $2.1 million and the Education Finance Act (EFA) allocations were projected to decrease by $108,785. State Revenue in Lieu of Taxes was increased by $335,198 due to the increase in Tier 3 Property Tax Relief as estimated by the S.C. Budget & Control Board. Salaries and Related Fringe Benefits expenditures increased by a net of $3.8 million to cover a step increase, years’ experience increase and a 4% increase for all eligible employees as well as the related fringe benefits. Also, the employer portion of retirement increased by 1%. Teacher salaries were mandated to be increased 4%. Property and casualty insurance premiums increased by $200,000. The board held the final public hearing for the adoption of the 2019-20 General Fund in a special board meeting on July 9, 2019. After the public hearing, the 2019-20 General Fund budget was approved in the amount of $91,560,428 by a vote of 8 – 0.
The board also approved an operations millage increase to support the approved 2019-20 General Fund budget of 5.9 mills at the meeting on July 9, 2019. The millage for operations increased to 115.6 mills from 109.7. This included increases allowed but not previously imposed and is within the allowable limits of SC Code of Laws 6-1-320. Acknowledgments The preparation of the Comprehensive Annual Financial Report was made possible by the efficient and dedicated services of the entire staff of the Business Services Department. Each member of the department, as well as members of other various departments, has our sincere appreciation for their contributions made in the preparation of this report. In closing, without the leadership and support of the Board of Education, preparation of this report would not have been possible.
7
8
THE SCHOOL DISTRICT OF GEORGETOWN COUNTY PRINCIPAL OFFICIALS
YEAR ENDED JUNE 30, 2019
MEMBERS OF SCHOOL BOARD
Mr. Jim Dumm Chairman
Dr. Arthur Lance, Jr. Vice-Chairman
Ms. Sarah Elliott Secretary
Ms. Patricia DeLeone Parliamentarian
Ms. Randy Walker Member of School Board
Ms. Sandra Johnson Member of School Board
Mr. Richard Kerr Member of School Board
Dr. Michael Cafaro Member of School Board
Mr. Elery Little Member of School Board
ADMINISTRATIVE OFFICIALS
H. Randall Dozier, Ph.D. Superintendent
Dr. Celeste Pringle Deputy Superintendent
Lisa O. Johnson, CPA Associate Superintendent for Finance and Technology
9
10
FINANCIAL SECTION
INDEPENDENT AUDITORS' REPORT To the Members of the Board of Education The School District of Georgetown County Georgetown, South Carolina
Report on the Financial Statements We have audited the accompanying financial statements of the governmental activities, the business-type activities, the aggregate discretely presented component unit, each major fund, and the aggregate remaining fund information of The School District of Georgetown County, as of and for the year ended June 30, 2019, and the related notes to the financial statements, which collectively comprise The School District of Georgetown County’s basic financial statements as listed in the table of contents.
Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair 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.
Auditor’s 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 and 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 auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’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 the entity’s internal control. Accordingly, 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 overall 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 all material respects, the respective financial position of the governmental activities, the business-type activities, the aggregate discretely presented component unit, each major fund, and the aggregate remaining fund information of The School District of Georgetown County, as of June 30, 2019, and the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.
11
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis, schedule of the district’s proportionate share of the net pension liability – SCRS and PORS, schedule of district contributions – SCRS and PORS, schedule of the district’s proportionate share of the net OPEB liability – SCRHITF and the schedule of district contributions – SCRHITF on pages 13 through 19 and 68 through 71 be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required 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, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing 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 limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise The School District of Georgetown County’s basic financial statements. The combining and individual nonmajor fund financial statements and the Schedule of Expenditures of Federal Awards, as required by the audit requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), are presented for purposes of additional analysis and are not a required part of the basic financial statements.
The combining and individual nonmajor fund financial statements and the Schedule of Expenditures of Federal Awards are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling 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 auditing standards generally accepted in the United States of America. In our opinion, the combining and individual nonmajor fund financial statements and the Schedule of Expenditures of Federal Awards are fairly stated in all material respects in relation to the basic financial statements as a whole.
The introductory and statistical sections have 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 them.
Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated December 2, 2019 on our consideration of The School District of Georgetown County’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 solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of The School District of Georgetown County’s 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 The School District of Georgetown County’s internal control over financial reporting and compliance.
Greenville, South Carolina December 2, 2019
12
THE SCHOOL DISTRICT OF GEORGETOWN COUNTY MANAGEMENT’S DISCUSSION AND ANALYSIS (MD&A)
JUNE 30, 2019 This discussion and analysis of The School District of Georgetown County’s financial performance information provides an overview of the District’s financial activities for the fiscal year ended June 30, 2019. The intent of this discussion and analysis is to look at the School District’s financial activities as a whole; readers should also review the transmittal letter, notes to the basic financial statements and financial statements to enhance their understanding of the School District’s financial performance. FINANCIAL HIGHLIGHTS: Key financial highlights for 2019 are as follows:
The District’s total net position for 2019 totaled ($63.2) million, an increase of $4.3 million over fiscal year 2018.
Total Revenues and Other Financing Sources for the District’s governmental funds totaled $183.6 million, an increase of $56.8 million over fiscal year 2018.
Total Expenditures and Other Financing Uses for the District’s governmental funds totaled $178.7 million, an increase of $42.8 million from fiscal year 2018. At the close of the current fiscal year, the District’s governmental funds reported combined fund balances of $21.9 million, an increase of $4.9 million in comparison with the prior year’s balance of $17.0 million. Approximately 48.8% of this amount, $10.7 million, is unassigned and available. Our chief operating fund, the General Fund, had $84.2 million in fiscal year 2019 revenues, which primarily consisted of property taxes and state aid. In addition, the General Fund had $3.2 million in Other Financing Sources, which consisted of transfers from the Special Revenue Fund and the Proprietary Fund in the form of indirect costs and teacher salary supplement and fringe transfers from the Special Revenue-Education Improvement Act Fund. The General Fund incurred $86.8 million in expenditures and $431,406 in Other Financing uses for a transfer to cover a shortfall in Special Revenue Funds-Medicaid. The District’s Total long-term liabilities increased by a net amount of $40.2 million during FY 2019 due primarily to the decrease in the District’s Pension and Other Post-Employment Benefits (OPEB) liability of $2.8 million, and an increase in long term bond related liabilities of $43.1 million. The District’s Total Assets at June 30, 2019 was $383.5 million. Total Liabilities were $450.2 million. Deferred Outflows of Resources totaled $21.5 million, a decrease of $4.1 million from 2018. Deferred Inflows of Resources totaled $18.0 million, an increase of $2.5 million over 2018.
OVERVIEW OF THE FINANCIAL STATEMENTS: This discussion and analysis is intended to serve as an introduction to the District’s basic financial statements. The District’s basic financial statements are comprised of three components: 1) government-wide financial statements, 2) fund financial statements (General, Special Revenue, Debt Service, Capital Projects, Fiduciary, and Proprietary) and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves. A description of these statements and some related definitions follow: Government-wide Financial Statements: The basic financial statements include two kinds of statements that present different views of the District. The first two statements are government-wide financial statements that provide a broad overview of the District’s overall financial status, in a manner similar to a private-sector enterprise. The statement of net position presents information on all of the District’s assets, deferred outflows of resources, liabilities and deferred inflows of resources, 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.
13
OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED): The statement of activities presents information showing how the government’s net position changed during the most recent fiscal year. 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, for some items, revenues and expenses are reported in this statement that will only result in cash flows in future fiscal periods (e.g., uncollected taxes and earned unused vacation leave). Both of the government-wide financial statements distinguish functions of the District that are principally supported by taxes and intergovernmental revenues (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The governmental activities of the District include instruction, support services, community services, interest and other charges. The business-type activities of the District include a food service operation. Fund Financial Statements: The remaining basic financial statements are fund financial statements that focus on the individual parts of the District, reporting the District’s operations in more detail than government-wide statements. A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related requirements. All of the funds of the District can be divided into three categories: governmental funds, proprietary funds, and fiduciary funds. Governmental 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 uses of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a government’s near-term financing requirements. Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for the 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 governments’ near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate the comparison between governmental funds and governmental activities. The District maintains five 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, special projects fund, EIA fund, debt service fund and capital projects fund, all of which are considered to be major funds. Proprietary Funds: Services for which the District charges a fee are generally reported in the proprietary funds. Proprietary fund statements are reported on the accrual basis. Fiduciary Funds: Fiduciary funds are used to account for resources held for the benefit of parties outside the government. 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 District is the trustee, or fiduciary, for the pupil activity of the schools and accounts for this activity in an agency fund. Notes to The Basic Financial Statements: The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. GOVERNMENT-WIDE FINANCIAL ANALYSIS: The net position may serve over time as a useful indicator of the District’s financial position. Liabilities and deferred inflows of resources exceeded assets and deferred outflows of resources by $63.2 million. The District’s financial position is the product of several financial transactions including the net results of activities, the acquisition and payment of debt, the acquisition and disposal of capital assets, and the depreciation of capital assets. The following are significant current year transactions that have had an impact on the statement of net position:
• Net change in position for the governmental activities increased by $4.0 million. The net position for the business-type activities increased by $262,298.
14
GOVERNMENT-WIDE FINANCIAL ANALYSIS (CONTINUED):
• Current assets increased by $35.8 million from the prior year largely due to the unspent proceeds of a $100.0 million Bond Anticipation Note that closed in June 2019.
• Capital assets (net of accumulated depreciation) increased by $45.9 million as capital expenditures exceeded current year depreciation for the period.
• Long-term liabilities increased by a net amount of $40.2 million due primarily to a decrease in the net pension and OPEB Liabilities of $2.8 million and an increase of long-term debt of $43 million.
• Other liabilities increased by $31 million primarily due to the unspent proceeds of a Bond Anticipation Note that closed in June 2019.
• Deferred Outflows of Resources decreased by $4.0 million and Deferred Inflows of Resources increased by $2.5 million related to the District’s Pensions and OPEB.
The following table presents a comparative analysis of the District’s net position for the fiscal years ended June 30, 2019 and June 30, 2018:
2019 2018 2019 2018 2019 2018Assets
Current Assets 149,285,240$ 113,443,757$ 2,980,606$ 2,736,634$ 152,265,846$ 116,180,391$ Capital Assets 230,795,197 184,949,684 406,395 301,594 231,201,592 185,251,278
Total Assets 380,080,437$ 298,393,441$ 3,387,001$ 3,038,228$ 383,467,438$ 301,431,669$
Deferred Outflows of Resources 20,902,636$ 24,858,426$ 602,133$ 718,719$ 21,504,769$ 25,577,145$
LiabilitiesLong-Term Liabilities 316,047,899 275,704,843 6,350,549 6,452,757 322,398,448 282,157,600 Other Liabilities 127,782,671 96,790,560 10,522 5,717 127,793,193 96,796,277
Total Liabilities 443,830,570$ 372,495,403$ 6,361,071$ 6,458,474$ 450,191,641$ 378,953,877$
Deferred Inflows of Resources 17,519,989$ 15,128,433$ 504,691$ 437,399$ 18,024,680$ 15,565,832$
Net Investment in Capital Assets 152,052,751 134,848,585 406,395 301,594 152,459,146 135,150,179
Restricted 10,396,176 7,938,757 - - 10,396,176 7,938,757 Unrestricted (222,816,413) (207,159,311) (3,283,023) (3,440,520) (226,099,436) (210,599,831)
Total Net Position (60,367,486)$ (64,371,969)$ (2,876,628)$ (3,138,926)$ (63,244,114)$ (67,510,895)$
Net Position
TotalActivitiesBusiness-TypeGovernmental
Activities
15
GOVERNMENT-WIDE FINANCIAL ANALYSIS (Continued): The District’s total revenues for the fiscal year ended June 30, 2019 were $124.4 million. The total cost of all programs and services was $120.2 million. The following table presents a comparative analysis of the change in net position for the fiscal years ended June 30, 2019 and June 30, 2018:
2019 2018 2019 2018 2019 2018Revenues
Program RevenuesCharges for Servies 95,570$ 89,027$ 325,528$ 337,116$ 421,098$ 426,143$ Operating Grants 40,753,007 40,991,938 4,614,040 4,574,152 45,367,047 45,566,090
General RevenueProperty Taxes 58,663,631 57,563,241 - - 58,663,631 57,563,241 Grants and Entitlements 18,684,103 18,219,330 - - 18,684,103 18,219,330 Other 1,301,193 1,054,593 677 - 1,301,870 1,054,593
Total Revenues 119,497,504 117,918,129 4,940,245 4,911,268 124,437,749 122,829,397
Program ExpensesInstruction 57,649,325 62,197,816 - - 57,649,325 62,197,816 Support Services 55,911,788 53,881,461 - - 55,911,788 53,881,461 Community Services 146,377 120,706 - - 146,377 120,706 Interest and Other Charges 1,971,069 817,220 - - 1,971,069 817,220 Food Service - - 4,492,409 5,045,034 4,492,409 5,045,034
Total Expenses 115,678,559 117,017,203 4,492,409 5,045,034 120,170,968 122,062,237
Excess/(Deficiency) Before Transfer 3,818,945 900,926 447,836 (133,766) 4,266,781 767,160
Transfers (Food Service) 185,538 338,055 (185,538) (338,055) - -
Increase/(Decrease) in Net Position 4,004,483$ 1,238,981$ 262,298$ (471,821)$ 4,266,781$ 767,160$
Net Position, Beginning (64,371,969) 32,455,631 (3,138,926) 168,239 (67,510,895) 32,623,870
Cumulative Effect of Changein Accounting Principle - (98,066,581) - (2,835,344) - (100,901,925)
Net Position, Beginning, As Restated (64,371,969) (65,610,950) (3,138,926) (2,667,105) (67,510,895) (68,278,055)
Net Position, Ending (60,367,486)$ (64,371,969)$ (2,876,628)$ (3,138,926)$ (63,244,114)$ (67,510,895)$
Change in Net Position
Governmental Business-TypeActivities Activities Total
16
GOVERNMENT-WIDE FINANCIAL ANALYSIS (Continued): Governmental Activities: The following table presents the costs of the four major District functional activities: instruction, support services, community services, and interest on long-term debt. The table also shows each function’s net cost (total cost less charges for services generated by the activities and inter-governmental aid provided for specific programs). The net cost shows the financial burden that was placed on the State and District’s taxpayers by each of these functions.
Total Net (Expenses) Total Net (Expenses)Expenses Revenue Expenses Revenue
Instruction 57,649,325$ (43,348,462)$ 62,197,816$ (42,178,438)$ Support Services 55,911,788 (29,400,221) 53,881,461 (32,858,453) Community Services 146,377 (110,230) 120,706 (82,127) Interest and Other Charges 1,971,069 (1,971,069) 817,220 (817,220)
Total Expenses 115,678,559$ (74,829,982)$ 117,017,203$ (75,936,238)$
20182019
Governmental Activities
• The total expenses of all governmental activities this year was $115.7 million.
• The total expenses of all business type activities was $4.5 million.
• Federal and state governments and charges for services subsidized certain programs with grants and
contributions and other local revenues of $45.4 million.
• Net cost of governmental activities $74.8 million was financed by general revenues, which are comprised of primarily property taxes in the amount of $58.7 million. Unrestricted state aid was $18.7 million. Unrestricted Investment Earnings were $270,765 and Miscellaneous was $1.0 million.
FINANCIAL ANALYSIS OF THE DISTRICT’S FUNDS: As noted earlier, the District uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. Governmental Funds: The focus of the District’s governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the District’s financing requirements. In particular, unassigned fund balance may serve as a useful measure of the District’s net resources available for spending at the end of the fiscal year. The financial performance of the District as a whole is reflected in its governmental funds. As of the fiscal year end, the District’s governmental funds reported a combined fund balance of $21.9 million, an increase of $4.9 million. Approximately $10.7 million or 48.8% of the $21.9 million fund balance constitutes unassigned fund balance, which is available for spending at the District’s discretion. The remaining fund balance is non-spendable, restricted or committed to indicate that it is not available for spending because it has already been restricted:
• $7.6 million to pay debt service • $3.4 million for capital projects from the 2016 Bond Referendum started and in process at year end.
The General Fund is the principal operating fund of the District. The unassigned fund balance at June 30, 2019 for the General Fund was $10.7 million. General Fund fund balance included a non-spendable amount of $10,549 which represented Prepaid Items and a committed amount approved by the Board in a previous fiscal year of $150,000 that has not been de-committed to date.
17
FINANCIAL ANALYSIS OF THE DISTRICT’S FUNDS (Continued): The Special Revenue Funds account for proceeds of specific revenue sources that are legally restricted to expenditures for specified purposes. The District’s Special Projects Fund consists of all federal, state and local projects and grants except for those in EIA. The Education Improvement Act (EIA) Fund was passed in 1984 into state law. This fund accounts for the proceeds of an additional one percent sales and use tax restricted to expenditures for the EIA standards. The Special Revenue Funds, both the Special Projects Fund and the Education Improvement Act Fund have a zero fund balance. The Debt Service fund balance of $7.6 million is $1.0 million less than last year’s balance of $8.6 million. Capital Projects fund balance at June 30, 2019 was $3.4 million which represents an increase over June 30, 2018 of $5.3 million. The District has used Bond Anticipation Notes for the last three years to fund the 2016 Referendum projects. The District issued $55.0 million in GO Bonds in fiscal year 2018-19. Of the $55.0 million in GO Bonds issued, $50.0 million was for the $165.0 million bond referendum. GENERAL FUND BUDGETARY HIGHLIGHTS: A schedule showing the original and final budget amounts compared to the District’s actual financial activity for the General Fund is provided in this report as a part of the “basic financial statements.” The Board adopted the 2018-19 General Fund budget on June 12, 2018 based on state funding projections available at that time. Original and Final budgeted revenues are exactly the same. Local revenues were $177,557 more than budgeted which was a result of higher than expected tax collection. State revenues were $402,518 less than budgeted due to a decrease in EFA funding primarily a reduction of Pupils in Poverty Funding. Intergovernmental revenues were not budgeted but the District received reimbursement from its component unit Coastal Montessori Charter School for services provided in the amount of $28,275. Instruction expenditures were under the final budget by $330,706. Support Services expenditures were under the final budget by $205,324. Community Services expenditures exceeded budget by $112,685. The expenditures in excess of appropriations were deemed necessary in order to support the objectives of the District. The differences in the original and final budgeted expenditures are negligible other than those listed above. CAPITAL ASSETS AND DEBT ADMINISTRATION: Capital Assets: As of June 30, 2019, the District had invested $231.2 million in capital assets, net of depreciation, including school buildings, athletic facilities, buses and other vehicles, computers, and other equipment. The total depreciation expense for the year was $5.5 million for governmental activities and $66,701 for the Business type activities. Accumulated depreciation at June 30, 2019 is $88.1 million for Governmental Funds and $1.6 million for the Proprietary Fund. Additional information on the District’s capital assets can be found in Note 4 of this report. The following schedule presents a comparative analysis of the changes in capital assets balances net of depreciation for the fiscal years ended June 30, 2019 and June 30, 2018:
2019 2018 2019 2018 2019 2018
Land 5,258,251$ 5,253,251$ -$ -$ 5,258,251$ 5,253,251$ Building and
Building Improvements 166,785,920 166,921,656 - - 166,785,920 166,921,656 Equipment 4,018,831 3,862,630 406,395 301,594 4,425,226 4,164,224 Construction in Progress 54,732,195 8,912,147 - - 54,732,195 8,912,147
Total 230,795,197$ 184,949,684$ 406,395$ 301,594$ 231,201,592$ 185,251,278$
Capital Assets Balances, Net of Depreciation
Governmental Business-TypeActivities Activities Total
18
CAPITAL ASSETS AND DEBT ADMINISTRATION (Continued): Debt Administration: At year-end, the District had $89.4 million in general obligation bonds outstanding, of which $11 million in principal payments are due within one year. The following table presents a summary of the District’s outstanding long-term general obligation debt for the fiscal years ended June 30, 2019 and June 30, 2018.
2019 2018
Referendum General Obligation Debt 56,005,000$ 11,555,000$ Eight Percent General Obligation Debt 33,380,000 36,875,000
Total 89,385,000$ 48,430,000$
Outstanding Debt
Moody’s Investors Services assigned an underlying rating of Aa3 to the District’s GO Bonds, Series 2019. State statutes currently limit the amount of general obligation debt a district may issue to 8 percent of its total assessed valuation. The current debt limitation for the District is $46.9 million. The legal debt margin is $13.6 million. Additional information concerning the District’s long-term debt can be found in Note 7 of this report. ECONOMIC FACTORS AND NEXT YEAR’S BUDGET, SUBSEQUENT EVENTS AND OTHER MATTERS: The approved 2019-20 General Fund budget totaled $91.6 million for both revenues and expenditures, a $3.9 million increase over 2018-19. Additional tax millage as allowed by state law was approved at 5.9 mills and approximately an additional $1.7 million in revenue. Restricted State Grant Allocations through the S.C. Department of Education (SDE) were projected to increase by $2.1 million and the Education Finance Act (EFA) allocations were projected to decrease by $108,785. State Revenue in Lieu of Taxes was increased by $335,198 due to the increase in Tier 3 Property Tax Relief as estimated by the S.C. Budget & Control Board. Salaries and Related Fringe Benefits expenditures increased by a net of $3.8 million to cover a step increase, years’ experience increase and a 4% increase for all eligible employees as well as the related fringe benefits. Also, the employer portion of retirement increased by 1%. Teacher salaries were mandated to be increased 4%. Property and casualty insurance premiums increased by $200,000. The board held the final public hearing for the adoption of the 2019-20 General Fund in a special board meeting on July 9, 2019. After the public hearing, the 2019-20 General Fund budget was approved in the amount of $91,560,428 by a vote of 8 – 0. The board also approved an operations millage increase to support the approved 2019-20 General Fund budget of 5.9 mills at the meeting on July 9, 2019. The millage for operations increased to 115.6 mills from 109.7. This included increases allowed but not previously imposed and is within the allowable limits of SC Code of Laws 6-1-320. REQUEST FOR INFORMATION: This financial report is designed to provide those interested with a general overview of the District’s finances and to show the District’s accountability for the money it receives. If you have questions about this report or need additional financial information, contact the Business Services Department, Associate Superintendent for Finance & Technology at Georgetown County School District located at 2018 Church Street, Georgetown, SC 29440.
19
BASIC FINANCIAL
STATEMENTS
The basic financial statements provide a summary overview of the financial position of all funds and account groups and of the operating results of all funds. They also serve as an introduction to the more detailed statements and schedules that follow.
Governmental Business-Type ComponentActivities Activities Total Unit
Assets
Cash & Cash Equivalents 130,516,660$ 2,860,151$ 133,376,811$ 683,434$ Restricted Cash - - - 269,604 Investments 6,498,219 - 6,498,219 935,478 Property Tax Receivable 1,747,370 - 1,747,370 - Due From County Government 7,732,920 - 7,732,920 - Due From State Government 103,818 - 103,818 - Due From Federal Government 1,760,974 53,616 1,814,590 - Prepaid Items 10,549 - 10,549 1,500 Inventories - Supplies & Materials - 65,428 65,428 - Other Receivables 914,730 1,411 916,141 - Other Assets - - - 1,200 Capital Assets (Net of Accumulated Depreciation)
Land 5,258,251 - 5,258,251 705,094 Buildings & Improvements 166,785,920 - 166,785,920 5,069,741 Equipment 4,018,831 406,395 4,425,226 109,342 Construction in Progress 54,732,195 - 54,732,195 4,695
Total Assets 380,080,437$ 3,387,001$ 383,467,438$ 7,780,088$
Deferred Outflows of Resources
Net Pension Deferred Outflows 7,420,441 213,758 7,634,199 - Net OPEB Deferred Outflows 1,823,174 52,519 1,875,693 - Employer Contributions Subsequent to Measurement Date 11,659,021 335,856 11,994,877 -
Total Deferred Outflows of Resources 20,902,636$ 602,133$ 21,504,769$ -$
Liabilities
Accounts Payable 13,647,390$ 10,522$ 13,657,912$ 5,208$ Accrued Salaries 5,418,996 - 5,418,996 - Accrued Payroll Related Liabilities 4,964,337 - 4,964,337 - Due To State Government 10,351 - 10,351 - Bond Anticipation Notes Payable 100,000,000 - 100,000,000 - Retainage Payable 1,567,740 - 1,567,740 - Unearned Revenue 1,496,076 - 1,496,076 - Other Liabilities 1,088 - 1,088 12,860 Accrued Interest Payable 676,693 - 676,693 - Noncurrent Liabilities:
Net Pension Liability 124,107,616 3,575,116 127,682,732 - Net OPEB Liability 96,347,179 2,775,433 99,122,612 - Due Within One Year 12,776,530 - 12,776,530 118,013 Due in More Than One Year 82,816,574 - 82,816,574 6,315,800
Total Liabilities 443,830,570$ 6,361,071$ 450,191,641$ 6,451,881$
Deferred Inflows of Resources
Net Pension Deferred Inflows 7,078,134 203,897 7,282,031 - Net OPEB Deferred Inflows 10,441,855 300,794 10,742,649 -
Total Deferred Inflows of Resources 17,519,989$ 504,691$ 18,024,680$ -$
Net Position
Net Investment in Capital Assets 152,052,751 406,395 152,459,146 (544,941) Restricted For:
Debt Service Program 6,959,748 - 6,959,748 269,604 Capital Projects 3,436,428 - 3,436,428 -
Net Position - Unrestricted (222,816,413) (3,283,023) (226,099,436) 1,603,544
Total Net Position (60,367,486)$ (2,876,628)$ (63,244,114)$ 1,328,207$
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYSTATEMENT OF NET POSITION
JUNE 30, 2019
The notes to the basic financial statements are an integral part of this statement.
20
Cha
rges
Ope
ratin
gC
apita
lfo
rG
rant
s an
dG
rant
s an
dG
over
nmen
tal
Bus
ines
s-Ty
peC
ompo
nent
Func
tions
/Pro
gram
sEx
pens
esSe
rvic
esC
ontr
ibut
ions
Con
trib
utio
nsAc
tiviti
esAc
tiviti
esTo
tal
Uni
t
Gov
ernm
enta
l Act
iviti
es:
Inst
ruct
ion
57,6
49,3
25$
-
$
14,3
00,8
63$
-
$
(43,
348,
462)
$
-$
(43,
348,
462)
$
Supp
ort S
ervi
ces
55,9
11,7
88
95
,570
26,4
15,9
97
-
(29,
400,
221)
-
(29,
400,
221)
Com
mun
ity S
ervi
ce14
6,37
7
-
36,1
47
-
(110
,230
)
-
(1
10,2
30)
In
tere
st &
Oth
er C
harg
es1,
971,
069
-
-
-
(1,9
71,0
69)
-
(1
,971
,069
)
To
tal G
over
nmen
tal A
ctiv
ities
115,
678,
559
95
,570
40,7
53,0
07
-
(74,
829,
982)
-
(74,
829,
982)
Bus
ines
s-Ty
pe A
ctiv
ities
:Fo
od S
ervi
ce4,
492,
409
32
5,52
8
4,61
4,04
0
-
-
44
7,15
9
44
7,15
9
Tota
l Bus
ines
s-Ty
pe A
ctiv
ities
4,49
2,40
9
325,
528
4,
614,
040
-
-
447,
159
447,
159
Tota
l Prim
ary
Gov
ernm
ent
120,
170,
968
$ 42
1,09
8$
45,3
67,0
47$
-
$
(74,
829,
982)
$
447,
159
$
(74,
382,
823)
$
Com
pone
nt U
nits
:C
harte
r Sch
ool
2,41
3,94
1$
-$
2,
704,
798
$
-
$
290,
857
$
42,8
46,0
07
-
42
,846
,007
-
15,8
17,6
24
-
15
,817
,624
-
18,6
84,1
03
-
18
,684
,103
-
270,
765
-
270,
765
-
-
-
-
81
,450
1,
030,
428
-
1,
030,
428
14
8,66
2
-
67
7
67
7
-
18
5,53
8
(1
85,5
38)
-
-
78,8
34,4
65
(1
84,8
61)
78,6
49,6
04
23
0,11
2
4,00
4,48
3$
262,
298
$
4,26
6,78
1$
520,
969
$
(64,
371,
969)
(3,1
38,9
26)
(6
7,51
0,89
5)
80
7,23
8
(60,
367,
486)
$
(2,8
76,6
28)
$
(6
3,24
4,11
4)$
1,
328,
207
$
Prim
ary
Gov
ernm
ent
Net
(Exp
ense
) Rev
enue
and
Cha
nges
in N
et P
ositi
on
FOR
TH
E YE
AR E
ND
ED J
UN
E 30
, 201
9ST
ATEM
ENT
OF
ACTI
VITI
ESTH
E SC
HO
OL
DIS
TRIC
T O
F G
EOR
GET
OW
N C
OU
NTY
Prog
ram
Rev
enue
s
Unr
estri
cted
Inve
stm
ent E
arni
ngs
Stat
e Ai
d N
ot R
estri
cted
For
Spe
cific
Pur
pose
Net
Pos
ition
, End
of Y
ear
Gen
eral
Rev
enue
s:Pr
oper
ty T
axes
Lev
ied
For:
Gen
eral
Pur
pose
sD
ebt S
ervi
ce
Mis
cella
neou
sG
ain
on S
ales
and
Dis
posa
ls o
f Cap
ital A
sset
s
Pupi
l Act
ivity
The
note
s to
the
basi
c fin
anci
al s
tate
men
ts a
re a
n in
tegr
al p
art o
f thi
s st
atem
ent.
Tota
l Gen
eral
Rev
enue
s an
d Tr
ansf
ers
Cha
nge
in N
et P
ositi
on
Net
Pos
ition
, Beg
inni
ng o
f Yea
r
Tran
sfer
s
21
Educ
atio
nTo
tal
Spec
ial
Impr
ovem
ent
Deb
tC
apita
lG
over
nmen
tal
Gen
eral
Proj
ects
Act
Serv
ice
Proj
ects
Fund
s
Asse
ts
Cas
h &
Cas
h Eq
uiva
lent
s5,
737,
983
$
-
$
1,
378,
605
$
7,
578,
382
$
11
5,82
1,69
0$
13
0,51
6,66
0$
Inve
stm
ents
6,49
8,21
9
-
-
-
-
6,
498,
219
Prop
erty
Tax
Rec
eiva
ble,
Net
1,43
9,56
8
-
-
39
8,25
1
-
1,
837,
819
Due
Fro
m O
ther
Fun
ds1,
707,
876
-
-
-
-
1,70
7,87
6
D
ue F
rom
Cou
nty
Gov
ernm
ent
5,73
2,92
0
-
-
-
2,
000,
000
7,73
2,92
0
D
ue F
rom
Sta
te G
over
nmen
t-
93
,500
10
,318
-
-
103,
818
D
ue F
rom
Fed
eral
Gov
ernm
ent
-
1,76
0,97
4
-
-
-
1,
760,
974
Prep
aid
Item
s10
,549
-
-
-
-
10,5
49
O
ther
Rec
eiva
bles
842,
506
71,8
37
200
-
187
91
4,73
0
Tota
l Ass
ets
21,9
69,6
21$
1,
926,
311
$
1,
389,
123
$
7,
976,
633
$
11
7,82
1,87
7$
15
1,08
3,56
5$
Liab
ilitie
s, D
efer
red
Inflo
ws
of R
esou
rces
and
Fund
Bal
ance
Liab
ilitie
s
Acco
unts
Pay
able
727,
559
83,3
87
17,2
35
1,
500
12
,817
,709
13
,647
,390
Ac
crue
d Sa
larie
s5,
418,
996
-
-
-
-
5,41
8,99
6
Ac
crue
d Pa
yrol
l Rel
ated
Lia
biliti
es4,
964,
337
-
-
-
-
4,96
4,33
7
D
ue T
o O
ther
Fun
ds-
1,
707,
876
-
-
-
1,70
7,87
6
D
ue T
o St
ate
Gov
ernm
ent
-
329
10,0
22
-
-
10
,351
Bond
Ant
icip
atio
n N
otes
Pay
able
-
-
-
-
10
0,00
0,00
0
10
0,00
0,00
0
Ret
aina
ge P
ayab
le-
-
-
-
1,56
7,74
0
1,
567,
740
Une
arne
d R
even
ue-
13
4,21
0
1,
361,
866
-
-
1,
496,
076
Oth
er L
iabi
lities
579
509
-
-
-
1,
088
Tota
l Lia
bilit
ies
11,1
11,4
71
1,
926,
311
1,
389,
123
1,
500
11
4,38
5,44
9
12
8,81
3,85
4
Def
erre
d In
flow
s of
Res
ourc
es
Una
vaila
ble
Tax
Rev
enue
s-
-
-
338,
692
-
338,
692
Tota
l Def
erre
d In
flow
s-
-
-
338,
692
-
338,
692
Fund
Bal
ance
s
Non
-Spe
ndab
le10
,549
-
-
-
-
10,5
49
R
estri
cted
-
-
-
7,
636,
441
3,
436,
428
11,0
72,8
69
Com
mitt
ed15
0,00
0
-
-
-
-
150,
000
U
nass
igne
d10
,697
,601
-
-
-
-
10
,697
,601
Tota
l Fun
d B
alan
ces
10,8
58,1
50
-
-
7,63
6,44
1
3,43
6,42
8
21
,931
,019
Tota
l Lia
bilit
ies,
Def
erre
d In
flow
s of
Res
ourc
esan
d Fu
nd B
alan
ces
21,9
69,6
21$
1,
926,
311
$
1,
389,
123
$
7,
976,
633
$
11
7,82
1,87
7$
15
1,08
3,56
5$
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TY
The
note
s to
the
basi
c fin
anci
al s
tate
men
ts a
re a
n in
tegr
al p
art o
f thi
s st
atem
ent.
Spec
ial R
even
ue F
unds
JUN
E 30
, 201
9B
ALAN
CE
SHEE
TG
OVE
RN
MEN
TAL
FUN
DS
22
Total Governmental Fund Balances 21,931,019$
Cost of Assets $ 318,874,725 Accumulated Depreciation (88,079,528) 230,795,197
3,382,647
248,243
Long Term Debt (89,385,000)Net Pension Liability (124,107,616)Net OPEB Liability (96,347,179)Bond Premiums, Net of Amortization (5,179,136)Compensated Absences (1,028,968)Accrued Interest Payable (676,693) (316,724,592)
Net Position of Governmental Activities: (60,367,486)$
The notes to the basic financial statements are an integral part of this statement.
Certain liabilities are not due and payable in the current period and, therefore, are not reported in the funds.
Capital assets used in governmental activities are not financial resources and, therefore, are not reported in the funds. This is the amount that the cost of the assets exceeds the accumulated depreciation.
Certain unearned revenues reported in the governmental funds are recognized subject to a reserve for uncollectible amounts in the statement of activities. This is the additional amount of taxes receivable recognized under the accrual basis.
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYRECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF NET POSITIONFOR THE YEAR ENDED JUNE 30, 2019
Amounts reported for Governmental Activities in the Statement of Net Position are different because:
Deferred Outflows (Inflows) resulting from the recognition of the employer's share of the state's net pension and OPEB liabilities are not current financial resources and, therefore, are not reported in the funds.
23
Education TotalSpecial Improvement Debt Capital Governmental
General Projects Act Service Projects Funds
RevenuesTaxes Levied/Assessed by the LEA 41,220,561$ -$ -$ 15,431,468$ -$ 56,652,029$ Revenue From Local Governmental Units Other Than LEAs 1,718,774 - - 386,156 - 2,104,930 Tuition 95,570 - - - - 95,570 Earnings on Investments 12,859 - - 190,855 67,051 270,765 Other Revenue from Local Sources 546,437 1,249,006 - - 399,201 2,194,644
Total Local 43,594,201 1,249,006 - 16,008,479 466,252 61,317,938
Intergovernmental 28,275 16,194 - - - 44,469 State Sources 40,592,443 1,647,280 7,294,358 803,248 - 50,337,329 Federal Sources - 7,053,882 - 837,215 - 7,891,097
Total Revenues 84,214,919$ 9,966,362$ 7,294,358$ 17,648,942$ 466,252$ 119,590,833$
ExpendituresCurrent:
Instruction 45,894,425 4,768,557 2,741,857 - - 53,404,839 Support Services 38,244,582 4,393,357 1,588,373 - 1,843,424 46,069,736 Community Services 118,243 17,471 - - - 135,714 Intergovernmental 2,521,596 229,193 78,850 - 55,936 2,885,575
Debt Service: - Legal Services - - - 131,500 - 131,500 Other Professional and Technical Services - - - 200,019 - 200,019 Redemption of Principal - - - 14,045,000 - 14,045,000 Interest - - - 4,609,160 - 4,609,160 Other Objects - - - 7,515 - 7,515
Capital Outlay - 239,857 282,666 - 52,880,463 53,402,986
Total Expenditures 86,778,846$ 9,648,435$ 4,691,746$ 18,993,194$ 54,779,823$ 174,892,044$
Excess of Revenues Over(Under) Expenditures (2,563,927) 317,927 2,602,612 (1,344,252) (54,313,571) (55,301,211)
Other Financing Sources (Uses)Premiums on Bonds Sold - - - - 4,986,478 4,986,478 Issuance of Debt - - - - 55,000,000 55,000,000 Sale of Capital Assets - - - - 38,170 38,170 Transfers In 3,204,507 431,406 - 331,519 - 3,967,432 Transfers Out (431,406) (317,927) (2,602,612) - (429,949) (3,781,894)
Total Other Financing Sources (Uses) 2,773,101 113,479 (2,602,612) 331,519 59,594,699 60,210,186
Net Change in Fund Balances 209,174$ 431,406$ -$ (1,012,733)$ 5,281,128$ 4,908,975$
Fund Balance, Beginning of Year 10,648,976 (431,406) - 8,649,174 (1,844,700) 17,022,044
Fund Balance, Ending of Year 10,858,150$ -$ -$ 7,636,441$ 3,436,428$ 21,931,019$
The notes to the basic financial statements are an integral part of this statement.
Special Revenue
FOR THE YEAR ENDED JUNE 30, 2019
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYGOVERNMENTAL FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
24
Net Change in Fund Balances - Total Governmental Funds 4,908,975$
Depreciation Expense (5,537,008)$ Capital Outlay 51,401,186 45,864,178
Redemption of Principal 14,045,000 Proceeds from Long-Term Debt (55,000,000) (40,955,000)
Change in Amortization of Bond Premiums (1,530,751)Change in Amortization of Bond Discounts (512,326) (2,043,077)
(18,665)
(93,328)
Compensated Absences - End of Current Year (1,028,968)Compensated Absences - End of Prior Year 956,062 (72,906)
District's Proportionate Share of Total Pension Expense (10,634,963)District's Proportionate Share of Total OPEB Expense (4,643,476)Current Contributions to Systems 11,659,021 (3,619,418)
Accrued Interest - End of Current Year (676,693)Accrued Interest - End of Prior Year 710,417 33,724
Change in Net Position of Governmental Activities 4,004,483$
The change in compensated absences reported in the statement of activities does not require the use of current financial resources, and therefore, is not reported as an expenditure/revenue in the governmental funds. This is the amount that compensated absences at the end of the prior year exceeded the compensated absences at the end of the current year.
Governmental funds report the effect of premiums, discounts, and similar items when debt is first issued, whereas these amounts are deferred and amortized in the statement of activities. This is the change in bond premium and discount amortization.
The issuance of long-term debt (e.g. bonds) provides current financial resources to governmental funds, while the repayment of the principal of long-term debt consumes the current financial resources of governmental funds. Neither transaction, however, has any effect on net position. This is the amount that principal repaid during the year exceeds the amount of debt issued during the year.
The notes to the basic financial statements are an integral part of this statement.
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYRECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCE OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIESFOR THE YEAR ENDED JUNE 30, 2019
Governmental funds report capital outlays as expenditures. However, in the statement of activities the cost of these assets is allocated over their estimated useful lives and reported as depreciation expense. This is the amount by which depreciation expense exceeded capital outlays in the current period.
In the statement of activities, the gain/(loss) on the sale or disposal of capital assets is reported, whereas in the governmental funds, the proceeds from the sale increases financial resources. Thus the change in net position differs from the change in fund balance by the cost of capital assets disposed or sold.
Certain unavailable tax revenues reported in the governmental funds are recognized in the statement of activities, net of a reserve for uncollectible amounts. This is the change in the amount of taxes receivable recognized under the accrual basis.
Amounts reported for the Governmental Activities in the Statement of Activities are different because:
Interest on long-term debt in the statement of activities differs from the amount reported in the governmental funds because interest is recognized as an expenditure in the funds when it is due, and thus requires the use of current financial resources. In the statement of activities, however, interest expense is recognized as the interest accrues, regardless of when it is due. This is the amount that accrued interest on bonds at the end of the prior year exceeded the accrued interest on bonds at the end of the current year.
Retirement expense in the statement of activities is measured by the District's proportionate share of the PEBA total pension and OPEB liability expense. In the governmental funds, however, the expenditure is measured by the current contributions to the retirement system. This is the amount Current Contributions exceed the District's proportionate share.
25
Actual Variance withOriginal Final Amounts Final Budget
RevenuesLocal 43,416,644$ 43,416,644$ 43,594,201$ 177,557$ State 40,994,961 40,994,961 40,592,443 (402,518) Intergovernmental - 28,275 28,275
Total Revenues 84,411,605$ 84,411,605$ 84,214,919$ (196,686)$
ExpendituresCurrent:
Instruction 46,222,084 46,225,131 45,894,425 330,706 Support Services 38,452,953 38,449,906 38,244,582 205,324 Community Services 5,558 5,558 118,243 (112,685) Intergovernmental 2,521,596 2,521,596 2,521,596 -
Total Expenditures 87,202,191$ 87,202,191$ 86,778,846$ 423,345$
Excess Revenues Over (Under) Expenditures (2,790,586) (2,790,586) (2,563,927) 226,659
Other Financing Sources (Uses)Transfers from Other Funds 2,790,586 2,790,586 2,773,101 (17,485)
Total Other Financing Sources (Uses) 2,790,586 2,790,586 2,773,101 (17,485)
Excess Revenues and Other SourcesOver (Under) Expenditures and Other Uses -$ -$ 209,174$ 209,174$
Fund Balance, Beginning of Year 10,648,976
Fund Balance, End of Year 10,858,150$
The notes to the basic financial statements are an integral part of this statement.
Budget AmountsGeneral Fund
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYGENERAL FUND
BUDGETARY COMPARISON STATEMENTFOR THE YEAR ENDED JUNE 30, 2019
26
Assets
Current AssetsCash & Cash Equivalents 2,860,151$ Due From Federal Government 53,616 Inventories - Supplies & Materials 65,428 Other Receivables 1,411
Total Current Assets 2,980,606
Property, Plant and Equipment, Net 406,395
Total Assets 3,387,001$
Deferred Outflows of Resources
Net Pension Deferred Outflows 213,758Net OPEB Deferred Outflows 52,519Employer Contributions Subsequent to Measurement Date 335,856
Total Deferred Outflows of Resources 602,133$
Liabilities
Current LiabilitiesAccounts Payable 10,522
Total Current Liabilities 10,522
Long Term LiabitiesNet Pension Liability 3,575,116Net OPEB Liability 2,775,433
Total Long Term Liabilities 6,350,549
Total Liabilities 6,361,071$
Deferred Inflows of Resources
Net Pension Deferred Inflows 203,897Net OPEB Deferred Inflows 300,794
Total Deferred Inflows of Resources 504,691$
Net Position
Investment in Capital Assets 406,395 Unrestricted (3,283,023)
Total Net Position (2,876,628)$
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYPROPRIETARY FUND - FOOD SERVICE
STATEMENT OF NET POSITIONJUNE 30, 2019
The notes to the basic financial statements are an integral part of this statement.
27
Business-TypeActivities
Enterprise Fund -Food Service
Operating RevenuesProceeds from Sales of Meals 325,528$
Total Operating Revenues 325,528
Operating ExpensesFood Costs 2,010,642 Salaries & Employee Benefits 2,131,403 Supplies & Materials 163,173 Depreciation 66,701 Other Operating Costs 120,490
Total Operating Expenses 4,492,409
Operating Income (Loss) (4,166,881)
Non-Operating Revenues (Expenses)USDA Reimbursements 3,990,036 Commodities Received from USDA 314,759 Other Federal & State Aid 306,489 Interest Income 2,756 Gain on Disposal of Capital Assets 677
Total Non-Operating Revenues 4,614,717
Net Income Before Transfers 447,836
Transfers In 98,430 Transfers (Out) (283,968)
Change in Net Position 262,298
Net Position, Beginning of Year (3,138,926)
Net Position, End of Year (2,876,628)$
The notes to the basic financial statements are an integral part of this statement.
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYPROPRIETARY FUND - FOOD SERVICE
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITIONFOR THE YEAR ENDED JUNE 30, 2019
28
Enterprise Fund -Food Service
Cash Flows from Operating ActivitiesCash Received from Patrons 324,487$ Cash Payments to Suppliers for Goods and Services (2,287,869) Cash Payments to Employees for Services (2,049,733)
Net Cash Used in Operating Activities (4,013,115)
Cash Flows from Noncapital Financing ActivitiesOperating Grants Received 4,617,819 Transfers From Other Funds 98,430 Transfers (To) Other Funds (283,968)
Net Cash Provided by Noncapital Financing Activities 4,432,281
Cash Flows from Capital and Related Financing ActivitiesNet Acquisition of Capital Assets (170,825)
Net Cash Used in Capital and Related Financing Activities (170,825)
Cash Flows from Investing ActivitiesInterest Revenues 2,756
Net Cash Used in Capital and Related Financing Activities 2,756
Net Increase in Cash and Cash Equivalents 251,097
Cash and Cash Equivalents at Beginning of Year 2,609,054
Cash and Cash Equivalents at End of Year 2,860,151$
Operating Income (Loss) (4,166,881) Adjustments to Reconcile Operating Income (Loss) To
Net Cash (Used) by Operating Activities:Depreciation 66,701 Change in Assets and Liabilities:
Increase in Accounts Receivable (1,041) (Decrease) in Inventory 1,632 Increase in Net Pension Liability 81,670 Increase in Accounts Payable 4,804
Net Cash Used in Operating Activities (4,013,115)$
Supplemental Information:
Non-Cash Commodities Received 314,759$
The notes to the basic financial statements are an integral part of this statement.
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYPROPRIETARY FUND - FOOD SERVICE
STATEMENT OF CASH FLOWSFOR THE YEAR ENDED JUNE 30, 2019
29
Agency FundPupil
Activity
Assets
Cash & Cash Equivalents 736,850$ Other Receivables 9,945
Total Assets 746,795$
Liabilities
Due to Pupil Activities 746,795
Total Liabilities 746,795$
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYFIDUCIARY FUND - PUPIL ACTIVITY FUND
STATEMENT OF FIDUCIARY ASSETS AND LIABILITIESJUNE 30, 2019
The notes to the basic financial statements are an integral part of this statement.
30
THE SCHOOL DISTRICT OF GEORGETOWN COUNTY NOTES TO FINANCIAL STATEMENTS
1. Summary of Significant Accounting Policies The accounting policies of The School District of Georgetown County conform to accounting principles generally accepted in the United States of America as applicable to governments. The following is a summary of the more significant accounting policies.
Reporting Entity The School District of Georgetown County (the District) is a Local Education Agency empowered by State law with the responsibility to oversee and control all activities related to public school education in Georgetown County, South Carolina. The Board receives state, local and federal government funding and must adhere to the legal requirements of each funding entity. The District operates under the direction of an elected nine member Board of Trustees, with a superintendent serving as the chief administrative officer, and provides education services to approximately 9,400 students. The financial reporting entity consists of the primary government, organizations for which the primary government is financially accountable and other organizations for which the nature and significance of their relationship with the primary government are such that exclusion could cause the financial statements to be misleading or incomplete. Based on the following criteria, the District has determined it has one component unit and it is not a component unit of any other organization. Therefore, the District reports as a primary entity. The primary entity is financially accountable if it appoints a voting majority of the organization's governing body including situations in which the voting majority consists of the primary entity's officials serving as required by law and (1) it is able to impose its will on that organization or (2) there is a potential for the organization to provide specific financial benefits to, or impose specific financial burdens on, the primary entity. The primary entity also may be financially accountable if an organization is fiscally dependent on it even if it does not appoint a voting majority of the board. An organization is fiscally dependent on the primary entity that holds one or more of the following powers: determine its budget without another government's having the authority to approve and modify that budget, levy taxes or set rates or charges without approval by another government, and issue bonded debt without approval by another government.
Discretely Presented Component Unit The component unit column in the basic financial statements includes the financial data of the District’s component unit, the Coastal Montessori Charter School (the “Charter School”). This unit is reported in a separate column to emphasize that it is legally separate from the District. The Charter School operates under a charter granted by the District and is considered, under South Carolina Law, to be a public school and part of the District. It is administered and governed by its governing body as agreed to by the charter applicant and the District. The governing body is elected annually. The South Carolina Department of Education regulations require that charter schools be discretely presented in the financial statements. All accounting policies and reporting requirements applicable to the District were equally adopted at the Charter School reporting level. The Charter School does issue separate financial statements which are available on request from The Charter School.
Basis of Presentation The financial statement presentation provides a comprehensive, entity-wide perspective of the District's net position, revenues, expenses and changes in net position and cash flows that replaces the fund-group perspective previously required.
31
1. Summary of Significant Accounting Policies (Continued)
Basis of Presentation (Continued) Government-Wide Statements
The statement of net position and the statement of activities display information about the District. These statements include the financial activities of the overall government, except for fiduciary activities. The effect of interfund activity has been removed from these statements except for interfund services provided and used. These statements distinguish between the governmental and business-type activities of the District. Governmental activities generally are financed through intergovernmental revenues, and other non-exchange transactions. Business-type activities are financed in whole or in part by fees charged to external parties. The statement of activities presents a comparison between direct expenses and program revenues for the different business-type activities of the District and each function of the District's governmental activities. Direct expenses are those that are specifically associated with a program or function, and, therefore, are clearly identifiable to a particular function. Indirect expense allocations that have been made in the funds have been eliminated for the statement of activities. Program revenues include (a) fees and charges paid by the recipients of goods or services offered by the programs and (b) grants and contributions that are restricted to meeting the operational or capital requirements of a particular program. Revenues that are not program revenues are presented as general revenues.
Fund Financial Statements The fund financial statements provide information about the District's funds. Separate statements for each fund category - governmental, proprietary, and fiduciary - are presented. The emphasis of fund financial statements is on major governmental and enterprise funds, each displayed in a separate column. All of the District's governmental and enterprise funds are reported as major funds. The fiduciary funds are presented separately. Proprietary fund operating revenues, such as charges for services, result from exchange transactions associated with the principal activity of the fund. Exchange transactions are those in which each party receives and gives up essentially equal values. Non-operating revenues, such as subsidies and investment earnings, result from non-exchange transactions or ancillary activities.
Governmental Funds
General Fund The General Fund is the general operating fund of the District. The General Fund accounts for all financial resources except those that are required to be accounted for in another fund. All property taxes, intergovernmental revenues, charges for services, education finance act revenues, and miscellaneous revenues are recorded in this fund except amounts which are specifically collected to service debt or for which the District collects in a fiduciary capacity. Operational expenditures for general instruction, support services, general administration and other departments of the District are paid through the General Fund.
Special Revenue Fund - Special Projects Fund The Special Projects Fund accounts for the financial transactions of the various special projects in which the District participates. All special projects supported in whole or in part with federal, state and local resources (other than expendable trusts, Education Improvement Act proceeds or major capital projects) are accounted for in this fund.
Special Revenue Fund - Education Improvement Act Fund The Education Improvement Act (EIA) fund accounts for the proceeds of the additional one percent sales and use tax that are restricted to expenditures of the Education Improvement Act strategies. The purpose of the EIA, in general, is to provide additional funding to local school districts for the purpose of raising academic standards by providing for, among other purposes, basic skills remediation, teacher salary increases and the modernization of equipment and instructional facilities.
32
1. Summary of Significant Accounting Policies (Continued)
Basis of Presentation (Continued) Governmental Funds (Continued)
Debt Service Fund
The Debt Service Fund accounts for the accumulation of resources for and the payment of general long-term debt, principal and interest. The primary financing source for the fund is County property taxes.
Capital Projects Fund The Capital Projects Fund accounts for financial resources to be used for the acquisition and construction of major capital facilities, other than those financed by proprietary funds and trust funds. Capital projects are funded by proceeds of bonds issued for public school construction and from certain State assistance and grants.
Enterprise Fund
Food Service Fund The Food Service Fund is used to account for operations of the school lunch and breakfast programs, which are financed and operated in a manner similar to private business enterprises, where the intent of the Board is that the costs of providing the services be recovered primarily through user charges, even though the activity is subsidized from other governmental resources.
Fiduciary Fund
Pupil Activity Fund This fund is used to report resources held by the District in a custodial capacity for student organizations and activities. Those funds generally belong to the individual schools of their student bodies and are not available for general use by the District.
Measurement Focus and Basis of Accounting
Government-Wide, Proprietary, and Fiduciary Fund Financial Statements The government-wide and proprietary funds are reported using the economic resources measurement focus. The government-wide, proprietary and fiduciary fund financial statements are reported on the accrual basis, revenues are recognized when earned, and expenses are recorded when an obligation has been incurred, regardless of when the related cash flows take place. Non-exchange transactions, in which the District gives (or receives) value without directly receiving (or giving) equal value in exchange, include grants and donations. Revenue from grants and donations is recognized in the fiscal year in which all eligibility requirements have been satisfied.
Proprietary Funds Proprietary funds distinguish operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. Operating expenses for enterprise funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as non-operating revenues and expenses.
33
1. Summary of Significant Accounting Policies (Continued)
Measurement Focus and Basis of Accounting (Continued)
Governmental Fund Financial Statements Governmental funds are reported using the current financial resources measurement focus and modified accrual basis of accounting. Under this method, revenues are recognized when measurable and available. The District considers all revenues reported in governmental funds to be available if the revenues are collected within sixty days after year-end. These include federal and state grants, some charges for services, and ad-valorem property taxes. Expenditures are recorded when the related fund liability is incurred, except for claims and judgments and compensated absences, which are recognized as expenditures to the extent they have matured. General capital asset acquisitions are reported as expenditures in governmental funds. Proceeds of general long-term debt and acquisitions under capital leases are reported as other financing sources. Funds received but not yet earned are reflected as deferred revenues. Fiduciary funds are reported using the accrual basis of accounting; revenues are recognized when earned, and expenses are recorded when an obligation has been incurred, regardless of when the related cash flows take place. Under the terms of grant agreements, the District funds certain programs by a combination of specific cost-reimbursement grants and general revenues. Thus when program expenses are incurred, there are both restricted and unrestricted net position available to finance the program. It is the District's policy to first apply cost-reimbursement grant resources to such programs and then general revenues.
Use of Resources When both restricted and unrestricted resources are available for use, it is the District's policy to use restricted resources first, and then unrestricted resources as needed.
Budgets and Budgetary Accounting The District adopts an annual budget for the general fund prior to the beginning of each fiscal year. The adopted budget specifies total expenditure limits. The special revenue funds do not have legally adopted budgets. Supplemental budget appropriations are made by the School Board for any expenditures exceeding total appropriations. Special revenue fund budgets are developed and controlled in conformity with the specific requirements for those funds. Unexpended appropriations lapse at fiscal year-end. Budget amounts reflected in the accompanying financial statements represent the adopted budget and any revisions during the fiscal year. All line item transfers are approved by the Associate Superintendent for Finance and Technology. No supplemental appropriations were necessary during the year. The budgets are prepared on a basis consistent with accounting principles generally accepted in the United States of America and consistent with actual financial statement presentation to provide meaningful comparisons. The following procedures are used in establishing the general fund budget: 1. Prior to the June meeting of the Georgetown County Board of Education, the Board prepares a budget for the
operation of the entire school system of the School District. This budget, at the discretion of the Board, is based upon proposed budgets submitted by the administrators and advisory board of the various schools of the School District.
2. A public hearing is held before the 25th day of June to obtain taxpayer comments. 3. Following the public hearing and before July 1st of each year the Board takes final action on the budget. 4. Upon final action by the Board on the budget, the Chairman of the Board notifies the auditor and treasurer of
the County of the amount of money required for the operation of the District during the next fiscal year. Upon receipt of this notice, the auditor levies taxes on all the taxable property of the County.
34
1. Summary of Significant Accounting Policies (Continued) Budgets and Budgetary Accounting (Continued)
5. Formal budgetary integration is employed as a management control device during the year. Encumbrances
are recorded at the time a good or service is ordered and the remaining budget appropriation is reduced by the same amount. When the good or service is received, the encumbrance is reversed in the budgetary accounts and an expenditure is recorded in the general ledger accounts. Encumbered appropriations lapse at year-end and all outstanding encumbrances are canceled.
Once the budget has been approved, the Associate Superintendent for Finance and Technology can approve any line item transfers without Board approval. Board approval is needed for any budget adjustment to total expenditures or interfund transfers. For the year ended June 30, 2019, there were no budget amendments requiring board approval. The legal level of budgetary control is at the fund level. Line item transfers were amended. Excess Expenditures over Appropriations The legal level of budgetary control is at the total expenditure level. This is the level at which expenditures should not exceed appropriations. For the fiscal year ended June 30, 2019, the District had no expenditures over appropriations at the total expenditure level. At the function level, for the fiscal year ended June 30, 2019, the District had $112,685 in excess expenditures over appropriations for community services functions. These expenditures were deemed necessary in order to support the objectives of the District.
Cash and Cash Equivalents For purposes of the statement of cash flows, the District considers all highly liquid investments with an original maturity of three months or less to be cash equivalents.
Investments The fair value measurement and disclosure framework provides for a three-tier fair value hierarchy that gives highest priority to quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:
- Level 1 – Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the School District can access at the measurement date.
- Level 2 – Inputs to the valuation methodology, other than quoted prices included in Level 1, that are observable for an asset or liability either directly or indirectly and include:
o Quoted prices for similar assets and liabilities in active markets. o Quoted prices for identical or similar assets or liabilities in inactive markets. o Inputs other than quoted market prices that are observable for the asset or liability. o Inputs that are derived principally from or corroborated by observable market data by correlation
or other means. - Level 3 – Inputs to the valuation methodology that are unobservable for an asset or liability and include:
o Fair value is often based on developed models in which there are few, if any, observable inputs. The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used should maximize the use of observable inputs and minimize the use of unobservable inputs. The valuation methodologies described above may produce a fair value calculation that may not be indicative of future net realizable values or reflective of future fair values. The District believes that the valuation methods used are appropriate and consistent with GAAP. The use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no significant changes from the prior year in the methodologies used to measure fair value. The District accounts for its investments at fair value in accordance with Generally Accepted Accounting Principles. Changes in unrealized gain or loss on the carrying value of investments are reported as a component of investment income in the statement of revenues, expenditures, and changes in fund balances. The District’s sole investment is a non-marketable security held as a Sinking-Fund Deposit Account.
35
1. Summary of Significant Accounting Policies (Continued) Accounts Receivable
Accounts receivable consists of amounts due from the Federal government, state and local governments or private sources, in connection with reimbursement of allowable expenditures made pursuant to the District's grants and contracts. Accounts receivable are recorded net of estimated uncollectible amounts.
Allowance for Doubtful Accounts All receivables that historically experience uncollectible amounts are shown net of an allowance for doubtful accounts. This amount is determined by analyzing the percentage of receivables that were not collected in prior years.
Inventories and Prepaids All inventories are valued at cost using the first-in/first-out (FIFO) method. Inventories of governmental funds are recorded as expenditures when consumed rather than when purchased. The Proprietary Fund inventory includes purchased food, food supplies, and commodities donated by the federal government. Purchased foods and food supplies are priced at latest invoice cost, which approximates a first-in, first-out cost method and a lower of cost or market basis. USDA food commodities that have not been consumed as of June 30, 2019, are recorded at fair market value at time of receipt. The value of commodities is recorded as both expense and revenue at the time of use. Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items proportionately over the periods that service is provided in both government-wide and fund financial statements.
Capital Assets
Capital assets, whether acquired or donated, are recorded at cost at the date of acquisition or at the date of donation in the case of gifts (acquisition value). Where cost could not be determined from the available records, estimated historical cost was used to record the estimated value of the assets. All land is capitalized, regardless of cost. Qualifying improvements that rest in or on the land itself are recorded as depreciable land improvements. Qualifying improvements include major additions and renovations; improvements that add to the usable space; or improvements that extend the useful life of an existing building are capitalized. The District capitalized moveable personal property with a unit value in excess of $5,000 and a useful life in excess of one year. Routine repairs and maintenance are charged to expenses in the year in which the expense was incurred. Depreciation is computed using the straight-line method over the estimated lives of the assets, generally 15 to 50 years for buildings and improvements and 5 to 12 years for machinery, equipment and vehicles. Salvage value is calculated based on a percentage of original cost, generally 20.00% for buildings and improvements, 1.00% for equipment and 10.00% for vehicles. A full year of depreciation is taken in the year that the asset is placed in service and in the year of disposition. The District allocates depreciation expense to programs/functions based on the ratio of program/functional expenses to total expenses with certain modifications.
Unearned Revenues Unearned revenues in the governmental funds include amounts received from grant and contract sponsors that have not yet been earned. Unearned revenues in the enterprise fund represent USDA commodities included in inventory at year-end but not reflected as revenue until the commodities are consumed.
36
1. Summary of Significant Accounting Policies (Continued)
Long-Term Obligations In the government-wide financial statements and proprietary fund types in the fund financial statements, long-term debt and other long-term obligations are reported as liabilities in the applicable governmental activities, business-type activities, or proprietary fund type statement of net position. Bond premiums and discounts are deferred and amortized over the life of the bonds using the effective interest method. Bonds payable are reported net of the applicable bond premium or discount. Bond issuance costs are expensed in the period in which they are incurred. In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received are reported as debt service expenditures.
Compensated Absences The majority of School District employees are employed under 190-day contracts. Therefore, these employees do not earn vacation as part of their benefit package. Administrative and other personnel employed for twelve months are granted twelve days of annual leave per year cumulative to thirty days. Compensated absences for vacation leave and other salary related payments are recorded as a liability when earned by administrative employees if the following conditions are met: 1. The compensated absence is earned on the basis of services already performed by the employee. 2. It is probable that the compensated absence will be paid in a future period. No accrual is made for compensated absences that are dependent upon the occurrence of specific future events that are outside the control of the employer or the employee. Due to the need for a specific future event (sickness), sick leave benefits have not been recorded by the School District. For governmental fund financial statements, the current portion of unpaid compensated absences is the amount which has matured and is expected to be paid using expendable available resources. These amounts, historically and currently, are recorded in the account "compensated absences payable" in the fund from which the employees who have accumulated unpaid leave are paid. Because of the immateriality of accrued vacation and other salary related payments in the proprietary fund type, compensated absences are not reflected in the food service fund.
Pensions The disclosure requirements applicable to employers participating in the South Carolina Retirement System or the Police Officers Retirement System are prescribed in paragraphs 48 through 82 of GASB 68. For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the South Carolina Retirement System and additions to/deductions from the South Carolina Retirement System's fiduciary net position have been determined on the same basis as they are reported by the South Carolina Retirement System. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. These liabilities, historically and currently, are recorded through contributions in the fund from which the employees who have earned wages are paid. See Note 5 for more information regarding the District’s Pensions Liability.
37
1. Summary of Significant Accounting Policies (Continued) Other Post Employment Benefits
The disclosure requirements applicable to employers participating in the South Carolina Retiree Health Care Plan or the South Carolina Basic Long-Term Disability Plan are prescribed in paragraphs 89 through 98 of GASB 75. For purposes of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of resources related to OPEBs, and OPEB expense, information about the fiduciary net position of the OPEB Trusts and additions to/deductions from the OPEB Trust's fiduciary net position have been determined on the same basis as they are reported by the OPEB Trust of PEBA. For this purpose, benefit payments are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. These liabilities, historically and currently, are recorded through contributions in the fund from which the employees who have earned wages are paid. See Note 6 for more information regarding the District’s OPEB Liability.
Non-Exchange Transactions
The District generally has two types of non-exchange transactions, government-mandated non-exchange transactions (which occur when a government at one level provides resources to a government at another level and requires the recipient to use the resources for a specific purpose) and voluntary non-exchange transactions (which result from legislative or contractual agreements other than exchanges, entered into willingly by the parties to the agreement). The District recognized non-exchange transactions when they are both measurable and probable for collection. For government-mandated non-exchange transactions and voluntary non-exchange transactions, the District recognized assets when all applicable eligibility requirements are met or resources are received, whichever is first, and revenue when all applicable eligibility requirements are met.
Fund Balances and Net Position Fund balances, net position, and other credits are classified to reflect the limitations and restrictions placed on the respective funds. Net position represents the difference between assets and liabilities. Net investment in capital assets consists of capital assets, net of accumulated depreciation, reduced by the outstanding balances of any borrowings attributable to the acquisition, construction, or improvement of those assets. Net position is reported as restricted when there are limitations imposed on their use either through the enabling legislation adopted by the School District or through external restrictions imposed by creditors, grantors, or laws or regulations of other governments.
Fund Balance Flow Assumptions Sometimes the District will fund outlays for a particular purpose from both restricted and unrestricted resources (the total of committed, assigned, and unassigned fund balance). In order to calculate the amounts to report as restricted, committed, assigned, and unassigned fund balance in the governmental fund financial statements, a flow assumption must be made about the order in which the resources are considered to be applied. It is the District’s policy to consider restricted fund balance to have been depleted before using any components of unrestricted fund balance. Further, when the components of unrestricted fund balance can be used for the same purpose, committed fund balance is depleted first, followed by assigned fund balance. Unassigned fund balance is applied last.
Classification of Revenues The District has classified its revenues as either operating or non-operating revenues according to the following criteria:
Operating Revenues Operating revenues generally result from exchange transactions related to the District's principal ongoing operations. These revenues include (1) student tuition and fees received in exchange for providing educational services or (2) grants and contracts that are essentially the same as contracts for services that finance programs the District would not otherwise undertake.
38
1. Summary of Significant Accounting Policies (Continued) Classification of Revenues (Continued)
Non-operating Revenues
Non-operating revenues include activities that have the characteristics of non-exchange transactions. These revenues include gifts and contributions, investment income, and any grants or contracts that are not classified as operating revenue or restricted by the grantor to be used exclusively for capital purposes.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position In addition to assets, the financial statements will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position or fund balance that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until that time. For information regarding the District’s proportionate share of the South Carolina Retirement System and OPEB Trust’s net pension and OPEB liabilities, see Notes 5 and 6 for Retirement, Pension and OPEB Plans. In addition to liabilities, the financial statements will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position or fund balance that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. For information regarding the District’s proportionate share of the South Carolina Retirement System and OPEB Trust’s net pension and OPEB liabilities, see Notes 5 and 6 for Retirement, Pension and OPEB Plans. 2. Deposits and Investments All cash and investments are stated at fair value with accrued interest shown on the statement of net position. The District is authorized to invest funds received from the County Treasurer which are not needed for immediate disbursement by the District, in interest bearing accounts or certificates of deposit issued by banking institutions or savings and loan associations licensed to do business in this state or in securities issued by the United States Government. At year end, the carrying amount of the District’s deposits was $103,917,503 and the bank balance was $105,715,846. Of the bank balance, $514,325 was covered by FDIC insurance and $105,201,521 was uninsured and collateralized with securities held by the pledging institution’s trust department, but not in the District’s name. The District did not hold deposits in excess of collateral at year end. At June 30, 2019, the District had the following investments and maturities:
Fair Value Credit FairInvestment Type Level Rating Value Maturity
CitiGroup Guaranteed Investment Contract Level 3 BBB+, Baa1 6,498,219$ > 5 Years
Note that the credit ratings above are for Standard & Poor’s and Moody’s Investor Service, respectively. The District’s sole investment is a non-marketable security held as a Sinking-Fund Deposit Account which is a guaranteed investment contract.
39
2. Deposits and Investments (Continued)
Interest Rate Risk In accordance with its investment policy, the District manages its exposure to declines in fair values by limiting the weighted average maturity of its investment portfolio to less than twelve months. The guaranteed investment contract shown above is exempt from this policy as the returns are guaranteed.
Credit Risk
The District adheres to the State of South Carolina's investment policy, and invests in primarily Certificates of Deposit and U. S. government-backed obligations. There are no investments in commercial paper or corporate bonds and equities.
Concentration of Credit Risk
The District's investment policy does not allow for an investment in any one issuer that is in excess of 5 percent (5%) of the total investments. Most investments are U. S. governmental obligations. Investments issued by or explicitly guaranteed by the U.S. Government and investments in mutual funds, external investment pools and other pooled investments are exempt from concentration of credit risk disclosures.
Foreign Currency Risk The District has no foreign currency transactions.
Custodial Credit Risk
This is the risk that the District will not be able to recover the value of investment or collateral securities that are in the possession of an outside party if the counter party to the investment transaction fails. There are no uninsured investments. The District is exposed to custodial credit risk as previously described. 3. Receivables Property taxes are levied by Georgetown County (the County) on the assessed value for all real and personal property (except vehicles) owned on the preceding December 31st. Liens are attached to the property at the time the taxes are levied, which usually occurs in November of each year. These taxes are due without penalty through January 15th. Penalties are added to taxes depending upon the date paid as follows:
January 16th - February 1st 3% of taxFebruary 2nd - March 16th 10% of taxMarch 17th - Collection Date 15% of tax plus collection costs
Taxes on vehicles are levied by the County in the month prior to the renewal of annual vehicle registration through the State Highway Department. These taxes are due by the last day of the same month. Taxes receivable as reported in the statement of net position are net of the following allowance for uncollectible amounts:
Delinquent Taxes Receivable 2,697,016$ Less: Allowance for Uncollectible (949,646)
Taxes Receivable 1,747,370$
40
4. Capital Assets Capital asset activity for the year ended June 30, 2019, was as follows:
Beginning EndingBalance Increases Decreases Balance
Governmental Activities:
Capital Assets, Not Being DepreciatedLand 5,253,251$ 5,000$ -$ 5,258,251$ Construction in Progress 8,912,147 48,462,575 2,642,527 54,732,195
Total Capital Assets, Not Being Depreciated 14,165,398 48,467,575 2,642,527 59,990,446
Capital Assets, Being DepreciatedBuildings 228,855,506 1,275,637 - 230,131,143 Improvements 8,708,022 2,703,410 - 11,411,432 Equipment 3,510,733 235,524 56,583 3,689,674 Technology 10,754,733 1,297,239 1,130,986 10,920,986 Vehicles 2,666,716 64,328 - 2,731,044
Total Capital Assets, Being Depreciated 254,495,710 5,576,138 1,187,569 258,884,279
Less: Accumulated Depreciation For:Buildings (66,193,404) (3,661,622) - (69,855,026) Improvements (4,448,468) (453,161) - (4,901,629) Equipment (2,584,914) (150,068) 49,088 (2,685,894) Technology (8,786,487) (1,068,471) 1,119,816 (8,735,142) Vehicles (1,698,151) (203,686) - (1,901,837)
Total Accumulated Depreciation (83,711,424) (5,537,008) 1,168,904 (88,079,528)
Total Capital Assets, Being Depreciated, Net 170,784,286 39,130 18,665 170,804,751
Governmental Activities, Capital Assets, Net 184,949,684$ 48,506,705$ 2,661,192$ 230,795,197$
Business-Type Activities:
Capital Assets, Being DepreciatedMachinery and Equipment 1,798,900$ 171,502$ 5,513$ 1,964,889$
Total Capital Assets, Being Depreciated 1,798,900 171,502 5,513 1,964,889
Less: Accumulated Depreciation For:Machinery and Equipment (1,497,306) (66,701) 5,513 (1,558,494)
Total Accumulated Depreciation (1,497,306) (66,701) 5,513 (1,558,494)
Business-Type Activities, Capital Assets, Net 301,594$ 104,801$ -$ 406,395$
41
4. Capital Assets (Continued) Depreciation expense was charged to functions/programs of the primary government as follows:
Government Activites:Instruction 1,943,022$ Support 3,589,075 Community Services 4,911
Total Depreciation - Governmental Activities 5,537,008$
Business-Type Activities:Food Service 66,701$
Total Depreciation - Business-Type Activities 66,701$
Construction Commitments
The District has several ongoing construction projects as of June 30, 2019. The projects include renovations and major repairs of existing schools, construction of new schools and technology upgrades. The District has total outstanding construction commitments at June 30, 2019, of $30,749,332. 5. Retirement Plan
Description of the Entity The South Carolina Public Employee Benefit Authority (PEBA), created July 1, 2012 and governed by an 11-member Board, is the state agency responsible for the administration and management of the various Retirement Systems and retirement programs of the state of South Carolina, including the State Optional Retirement Program and the S.C. Deferred Compensation Program, as well as the state's employee insurance programs. As such, PEBA is responsible for administering the South Carolina Retirement Systems' five defined benefit pension plans. The Retirement Funding and Administration Act of 2017, which became effective July 1, 2017, increased the employer and employee contribution rates, established a ceiling on the SCRS and PORS employee contribution rates, lowered the assumed rate of return, required a scheduled reduction of the funding periods, and addressed various governance issues including the assignment of the PEBA Board as custodian of the retirement trust funds and assignment of the RSIC and PEBA as cotrustees of the assets of the retirement trust funds. By law, the State Fiscal Accountability Authority (SFAA), which consists of five elected officials, also reviews certain PEBA Board decisions regarding the actuary of the Systems. For purposes of measuring the net pension liability, deferred outflows and inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the Systems and additions to/deductions from the Systems fiduciary net position have been determined on the accrual basis of accounting as they are reported by the Systems in accordance with generally accepted accounting principles (GAAP). For this purpose, revenues are recognized when earned and expenses are recognized when incurred. Benefit and refund expenses are recognized when due and payable in accordance with the terms of the plan. Investments are reported at fair value. PEBA issues a Comprehensive Annual Financial Report (CAFR) containing financial statements and required supplementary information for the Systems' Pension Trust Funds. The CAFR is publicly available through the Retirement Benefits' link on PEBA's website at www.peba.sc.gov, or a copy may be obtained by submitting a request to PEBA, 202 Arbor Lake Drive, Columbia, SC 29223. PEBA is considered a division of the primary government of the state of South Carolina and therefore, retirement trust fund financial information is also included in the comprehensive annual financial report of the state.
42
5. Retirement Plan (Continued) Plan Descriptions
The South Carolina Retirement System (SCRS), a cost-sharing multiple-employer defined benefit pension plan, was established July 1, 1945, pursuant to the provisions of Section 9-1-20 of the South Carolina Code of Laws for the purpose of providing retirement and other benefits for teachers and employees of the state and its political subdivisions. SCRS covers employees of state agencies, public school districts, higher education institutions, other participating local subdivisions of government and individuals newly elected to the South Carolina General Assembly at or after the 2012 general election. The State Optional Retirement Program (State ORP) is a defined contribution plan that is offered as an alternative to SCRS to certain newly hired employees of state agencies, institutions of higher education, public school districts and individuals first elected to the General Assembly at or after the general election in November 2012. State ORP participants direct the investment of their funds into an account administered by one of four third party record keepers. The South Carolina Police Officers Retirement System (PORS), a cost-sharing multiple-employer defined benefit pension plan, was established July 1, 1962, pursuant to the provisions of Section 9-11-20 of the South Carolina Code of Laws for the purpose of providing retirement and other benefits to police officers and firefighters. PORS also covers peace officers, coroners, probate judges and magistrates. In addition to the plans described above, PEBA also administers three single-employer defined benefit pension plans, which are not covered in this report. They are the Retirement System for Members of the General Assembly of the State of South Carolina (GARS), the Retirement System for Judges and Solicitors of the State of South Carolina (JSRS), and the South Carolina National Guard Supplemental Retirement Plan (SCNG).
Membership Membership requirements are prescribed in Title 9 of the South Carolina Code of Laws. A brief summary of the requirements under each system is presented below.
SCRS
Generally, all employees of covered employers are required to participate in and contribute to the system as a condition of employment. This plan covers general employees and teachers and individuals newly elected to the South Carolina General Assembly beginning with the November 2012 general election. An employee member of the system with an effective date of membership prior to July 1, 2012, is a Class Two member. An employee member of the system with an effective date of membership on or after July 1, 2012, is a Class Three member.
State ORP As an alternative to membership in SCRS, newly hired state, public school, and higher education employees and individuals newly elected to the S.C. General Assembly beginning with the November 2012 general election have the option to participate in the State ORP. PEBA assumes no liability for State ORP benefits. Rather, the benefits are the liability of the four third party record keepers. For this reason, State ORP assets are not part of the retirement systems' trust funds for financial statement purposes. Contributions to the State ORP are at the same rates as SCRS. A direct remittance is required from the employer to the member's account with the ORP vendor for the employee contribution and a portion of the employer contribution (5 percent). A direct remittance is also required to SCRS for the remaining portion of the employer contribution and an incidental death benefit contribution, if applicable, which is retained by SCRS.
43
5. Retirement Plan (Continued) Membership (Continued)
PORS
To be eligible for PORS membership, an employee must be required by the terms of his employment, by election or appointment, to preserve public order, protect life and property, and detect crimes in the state; to prevent and control property destruction by fire; or to serve as a peace officer employed by the Department of Corrections, the Department of Juvenile Justice, or the Department of Mental Health. Probate judges and coroners may elect membership in PORS. Magistrates are required to participate in PORS for service as a magistrate. PORS members, other than magistrates and probate judges, must also earn at least $2,000 per year and devote at least 1,600 hours per year to this work, unless exempted by statute. An employee member of the system with an effective date of membership prior to July 1, 2012, is a Class Two member. An employee member of the system with an effective date of membership on or after July 1, 2012, is a Class Three member.
Benefits
Benefit terms are prescribed in Title 9 of the South Carolina Code of Laws. PEBA does not have the authority to establish or amend benefit terms without a legislative change in the code of laws. Key elements of the benefit calculation include the benefit multiplier, years of service, and average final compensation/current annual salary. A brief summary of the benefit terms for each system is presented below.
SCRS Class Two member who has separated from service with at least five or more years of earned service is eligible for a monthly pension at age 65 or with 28 years credited service regardless of age. A member may elect early retirement with reduced pension benefits payable at age 55 with 25 years of service credit. A Class Three member who has separated from service with at least eight or more years of earned service is eligible for a monthly pension upon satisfying the Rule of 90 requirement that the total of the member's age and the member's creditable service equals at least 90 years. Both Class Two and Class Three members are eligible to receive a reduced deferred annuity at age 60 if they satisfy the five- or eight-year earned service requirement, respectively. An incidental death benefit is also available to beneficiaries of active and retired members of employers who participate in the death benefit program. The annual retirement allowance of eligible retirees or their surviving annuitants is increased by the lesser of one percent or five hundred dollars every July 1. Only those annuitants in receipt of a benefit on July 1 of the preceding year are eligible to receive the increase. Members who retire under the early retirement provisions at age 55 with 25 years of service are not eligible for the benefit adjustment until the second July 1 after reaching age 60 or the second July 1 after the date they would have had 28 years of service credit had they not retired.
PORS A Class Two member who has separated from service with at least five or more years of earned service is eligible for a monthly pension at age 55 or with 25 years of service regardless of age. A Class Three member who has separated from service with at least eight or more years of earned service is eligible for a monthly pension at age 55 or with 27 years of service regardless of age. Both Class Two and Class Three members are eligible to receive a deferred annuity at age 55 with five or eight years of earned service, respectively. An incidental death benefit is also available to beneficiaries of active and retired members of employers who participate in the death benefit program. Accidental death benefits are also provided upon the death of an active member working for a covered employer whose death was a natural and proximate result of an injury incurred while in the performance of duty. The retirement allowance of eligible retirees or their surviving annuitants is increased by the lesser of one percent or five hundred dollars every July 1. Only those annuitants in receipt of a benefit on July 1 of the preceding year are eligible to receive the increase.
44
5. Retirement Plan (Continued) Contributions (Continued)
Contributions are prescribed in Title 9 of the South Carolina Code of Laws. The PEBA board may increase the percentage rate in SCRS and PORS employer and employee contribution rates on the basis of the actuarial valuations, but any such increase may not result in a differential between the employee and total employer contribution rate that exceeds 2.9 percent of earnable compensation for SCRS and 5 percent for PORS. An increase in the contribution rates adopted by the board may not provide for an increase of more than one-half of one percent in any one year. If the scheduled employee and employer contributions provided in statute or the rates last adopted by the board are insufficient to maintain a thirty year amortization schedule of the unfunded liabilities of the plans, the board shall increase the contribution rates in equal percentage amounts for the employer and employee as necessary to maintain the thirty-year amortization period; this increase is not limited to one-half of one percent per year. Contributions are prescribed in Title 9 of the South Carolina Code of Laws. If the scheduled employee and employer contributions provided in statute, or the rates last adopted by the board, are insufficient to maintain the amortization period set in statute, the board shall increase employer contribution rates as necessary. After June 30, 2027, if the most recent annual actuarial valuation of the Systems for funding purposes shows a ratio of the actuarial value of system assets to the actuarial accrued liability of the system (the funded ratio) that is equal to or greater than eighty-five percent, then the board, effective on the following July first, may decrease the then current contribution rates upon making a finding that the decrease will not result in a funded ratio of less than eighty-five percent. If contribution rates are decreased pursuant to this provision, and the most recent annual actuarial valuation of the system shows a funded ratio of less than eighty-five percent, then effective on the following July first, and annually thereafter as necessary, the board shall increase the then current contribution rates until a subsequent annual actuarial valuation of the system shows a funded ratio that is equal to or greater than eighty-five percent. The Retirement System Funding and Administration Act establishes a ceiling on employee contribution rates at 9 percent and 9. 75 percent for SCRS and PORS respectively. The employer contribution rates will continue to increase annually by 1 percent through July 1, 2022. The legislation's ultimate scheduled employer rate is 18.56 percent for SCRS and 21.24 percent for PORS. The amortization period is scheduled to be reduced one year for each of the next 10 years to a twenty year amortization period. Required employee contribution rates are as follows:
SCRSEmployee Class Two 9.00% of earnable compensationEmployee Class Three 9.00% of earnable compensation
State ORP Employee 9.00% of earnable compensationPORS
Employee Class Two 9.75% of earnable compensationEmployee Class Three 9.75% of earnable compensation
45
5. Retirement Plan (Continued) Contributions (Continued)
Required employer contribution rates are as follows:
SCRSEmployer Class Two 14.41% of earnable compensationEmployer Class Three 14.41% of earnable compensationEmployer Incidental Death Benefit 0.15% of earnable compensation
State ORPEmployer Contribution 14.41% of earnable compensationEmployer Incidental Death Benefit 0.15% of earnable compensation
PORSEmployer Class Two 16.84% of earnable compensationEmployer Class Three 16.84% of earnable compensationEmployer Incidental Death Benefit 0.20% of earnable compensationEmployer Accidental Death Program 0.20% of earnable compensation
**Of this employer contribution, 5% of earnable compensation must be remitted by the employer directly to the ORP vendor to be allocated to the member's account with the remainder of the employer contribution remitted to the SCRS.
Actuarial Assumptions and Methods
Actuarial valuations of the plan involve estimates of the reported amounts and assumptions about the probability of occurrence of events far into the future. Examples include assumptions about future employment, mortality, and future salary increases. Amounts determined regarding the net pension liability are subject to continual revision as actual results are compared with past expectations and new estimates are made about the future. South Carolina state statute requires that an actuarial experience study be completed at least once in each five-year period. An experience report on the Systems was most recently issued for the period ending June 30, 2015. The June 30, 2018, total pension liability (TPL), net pension liability (NPL), and sensitivity information shown in this report were determined by our consulting actuary, Gabriel, Roeder, Smith and Company (GRS) and are based on an actuarial valuation performed as of July 1, 2017. The total pension liability was rolled-forward from the valuation date to the plans' fiscal year end, June 30, 2018, using generally accepted actuarial principles. The following table provides a summary of the actuarial assumptions and methods used to calculate the TPL as of June 30, 2018.
SCRS PORS
Actuarial Cost Method Entry Age Entry AgeActuarial Assumptions:
Investment Rate of Return 7.25% 7.25%Projected Salary Increases 3.0% - 12.5% 3.5% - 9.5%Includes Inflation at 2.25% 2.25%Benefits Adjustments lesser of 1% or $500 annually lesser of 1% or $500 annually
The post-retiree mortality assumption is dependent upon the member's job category and gender. The base mortality assumptions, the 2016 Public Retirees of South Carolina Mortality table (2016 PRSC), was developed using the Systems' mortality experience. These base rates are adjusted for future improvement in mortality using published Scale AA projected from the year 2016.
46
5. Retirement Plan (Continued) Actuarial Assumptions and Methods (Continued)
Assumptions used in the determination of the June 30, 2017, TPL are as follows.
Former Job Class Males Females
Public Safety and Firefighters 2016 PRSC Males multiplies by 125% 2016 PRSC Females multiplies by 111%
Educators 2016 PRSC Males multiplies by 92% 2016 PRSC Females multiplies by 98%
General Employees and Members of the General Assembly
2016 PRSC Males multiplies by 100% 2016 PRSC Females multiplies by 111%
Net Pension Liability The NPL is calculated separately for each system and represents that particular system's TPL determined in accordance with GASB No. 67 less that System's fiduciary net position. NPL totals, as of June 30, 2018, for SCRS and PORS are presented below.
Plan FiduciaryNet Position
Total Plan Employers' as a PercentagePension Fiduciary Net Net Pension of the Total Pension
System Liability Position Liability (Asset) Liability
SCRS 48,821,730,067$ 26,414,916,370$ 22,406,813,697$ 54.1%PORS 7,403,972,673 4,570,430,247 2,833,542,426 61.7%
The TPL is calculated by the Systems' actuary, and each plan's fiduciary net position is reported in the Systems' financial statements. The NPL is disclosed in accordance with the requirements of GASB 67 in the Systems' notes to the financial statements and required supplementary information. Liability calculations performed by the Systems' actuary for the purpose of satisfying the requirements of GASB Nos. 67 and 68 are not applicable for other purposes, such as determining the plans' funding requirements.
Long-term Expected Rate of Return The long-term expected rate of return on pension plan investments is based upon 30 year capital market assumptions. The long-term expected rate of returns represent assumptions developed using an arithmetic building block approach primarily based on consensus expectations and market based inputs. Expected returns are net of investment fees.
47
5. Retirement Plan (Continued) Long-Term Expected Rate of Return (Continued)
The expected returns, along with the expected inflation rate, form the basis for the target asset allocation adopted at the beginning of the 2018 fiscal year. The long-term expected rate of return is produced by weighting the expected future real rates of return by the target allocation percentage and adding expected inflation and is summarized in the table on the following page. For actuarial purposes, the 7.25 percent assumed annual investment rate of return used in the calculation of the TPL includes a 5.00 percent real rate of return and a 2.25 percent inflation component.
Long TermExpected Expected
Target Asset Arithmetic Real Portfolio RealAsset Class Allocation Rate of Return Rate of Return
Global Equity 47.0%Global Public Entity 33.0% 6.99% 2.31%Private Equity 9.0% 8.73% 0.79%Equity Options Strategies 5.0% 5.52% 0.28%
Real Assets 10.0%Real Estate (Private) 6.0% 3.54% 0.21%Real Estate (REITs) 2.0% 5.46% 0.11%Infrastructure 2.0% 5.09% 0.10%
Opportunistic 13.0%GTAA/Risk Parity 8.0% 3.75% 0.30%Hedge Funds (Low Beta) 2.0% 3.45% 0.07%Other Opportunistic Strategies 3.0% 3.75% 0.11%
Diversified Credit 18.0%Mixed credit 6.0% 3.05% 0.18%Emerging Markets Debt 5.0% 3.94% 0.20%Private Debt 7.0% 3.89% 0.27%
Conservative Fixed Income 12.0%Core Fixed Income 10.0% 0.94% 0.09%Cash and Short Duration (Net) 2.0% 0.34% 0.01%
Total Expected Real Return 100.0% 5.03%Inflation for Actuarial Purposes 2.25%Total Expected Nominal Return 7.28%
Discount Rate
The discount rate used to measure the TPL was 7.25 percent. The projection of cash flows used to determine the discount rate assumed that contributions from participating employers in SCRS and PORS will be made based on the actuarially determined rates based on provisions in the South Carolina Code of Laws. Based on those assumptions, the System's fiduciary net position was projected to be available to make all the projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the TPL.
48
5. Retirement Plan (Continued) Sensitivity Analysis
The following table presents the collective NPL of the participating employers calculated using the discount rate of 7.25 percent, as well as what the employers' NPL would be if it were calculated using a discount rate that is 1.00 percent lower (6.25 percent) or 1.00 percent higher (8.25 percent) than the current rate.
Current1.00% Decrease Discount Rate 1.00% Decrease
System (6.25%) (7.25%) (8.25%)
SCRS 162,861,957$ 127,453,541$ 102,139,915$ PORS 308,978 229,191 163,839
Sensitivity of the Net Pension Liability to Changes in the Discount Rate
Pension Expense
Components of collective pension expense reported in the Schedules of Pension Amounts by Employer for the fiscal year ended June 30, 2018, are presented below.
Description SCRS PORS
Service Cost 5,181,037$ 14,929$ Interest on the Total Pension Liability 19,348,779 40,504 Plan Administrative Costs 83,372 194 Plan Member Contributions (4,941,196) (11,215) Expected Return on Plan Assets (10,342,946) (24,961) Recognition of Current Year Amortization - Difference Between
Expected and Actual Experience & Assumption Changes 2,478,821 9,155 Recognition of Current Year Amortization - Difference Between
Projected and Actual Investment Earnings 590,811 1,458 Other 8,725 (124)
Total Aggregate OPEB Expense 12,407,403$ 29,940$
Additional items included in Total Employer Pension Expense in the Schedules of Pension Amounts by Employer are the current period amortized portions of deferred outflows and/or inflows of resources related to changes in employers' proportionate share of the collective NPL and differences between actual employer contributions and proportionate share of total plan employer contributions. These two deferrals are specific to cost-sharing multiple-employer defined benefit pension plans as discussed in paragraphs 54 and 55 of GASB 68.
49
5. Retirement Plan (Continued) Deferred Outflows of Resources and Deferred Inflows of Resources
At June 30, 2018, the District reported deferred outflows of resources and deferred inflows of resources related to the pension from the following sources.
Total Net DeferredDeferred Outflows Deferred Inflows Deferred Outflows Deferred Inflows Outflows/ (Inflows)
of Resources of Resources of Resources of Resources of Resources
Difference Between Expectedand Actual Experience 230,069$ 750,029$ 7,062$ -$ (512,898)$
Net Difference Between Projected and Actual Investment Earnings 2,024,602 - 4,583 - 2,029,185
Assumption Changes 5,056,644 - 15,112 - 5,071,756 Deferred Amounts from Changes in
Proportionate Share and Differences Between Employer Contributions and Proportionate Share
of Employer Contributions 280,382 6,527,223 15,745 4,779 (6,235,875)
7,591,697$ 7,277,252$ 42,502$ 4,779$ 352,168$
SCRS PORS
Deferred outflows of resources of $8,379,577 related to pensions resulted from District contributions subsequent to the measurement date and will be recognized as a reduction of the net pension liability in the year ended June 30, 2019. Any other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows:
Year Ended AggregateJune 30, SCRS PORS Totals
2020 (2,048,519)$ (22,803)$ (2,071,322)$ 2021 (915,240) (11,590) (926,830) 2022 2,370,084 (3,256) 2,366,828 2023 279,230 (74) 279,156
(314,445)$ (37,723)$ (352,168)$
As discussed in paragraph 71b of GASB 68, collective deferred outflows of resources and deferred inflows of resources arising from differences between projected and actual pension plan investment earnings in different measurement periods should be aggregated and included as a net collective deferred outflow of resources related to pensions or a net collective deferred inflow of resources related to pensions. Accordingly, the Outstanding Balance of Deferred Outflows of Resources in the Schedules of Pension Amounts by Employer reflects the current net difference between projected and actual pension plan investment earnings. Additional items reported within the Outstanding Balance of Deferred Outflows and Inflows of Resources in the Schedules of Pension Amounts by Employer result from the two cost-sharing multiple-employer defined benefit pension plan-specific deferrals previously discussed.
Employer Contributions Employers' proportionate shares were calculated on the basis of employer contributions remitted to the plan by employers and nonemployer contributions appropriated in the State's budget. In an effort to help offset a portion of the burden of the increased contribution requirement for employers, the General Assembly funded 1 percent of the SCRS and PORS contribution increases for fiscal year 2018. The State's budget appropriated these funds directly to PEBA for the South Carolina Retirement System Trust Fund and the Police Officers Retirement System Trust Fund. The amount of nonemployer funds appropriated for fiscal year 2018 totaled $105 million and $13.1 million for SCRS and PORS respectively.
50
5. Retirement Plan (Continued) Employer Contributions (Continued)
Employer contributions recognized by the Systems that are not representative of future contribution effort are excluded in the determination of employers' proportionate shares. Examples of employer contributions not representative of future contribution effort are contributions towards the purchase of employee service purchases and employer contributions paid by employees. The District’s contributions to the SCRS and PORS for the last three fiscal years were as follows:
2019 2018 2017SCRS
Employee Contributions 4,906,271$ 5,073,704$ 4,915,375$ Employer Contributions 8,359,350 7,891,412 6,738,260 Employer Group Life Contributions 88,394 90,303 90,914
Total 13,354,015$ 13,055,419$ 11,744,549$
PORSEmployee Contributions 11,440$ 10,632$ 10,201$ Employer Contributions 20,227 17,273 15,279 Employer Group Life Contributions 469 436 442
Total 32,136$ 28,341$ 25,922$
Additional Financial and Actuarial Information
Information contained in these Notes to the Schedules of Employer and Nonemployer Allocations and Schedules of Pension Amounts by Employer (Schedules) was compiled from the Systems' audited financial statements for the fiscal year ended June 30, 2018, and the accounting and financial reporting actuarial valuation as of June 30, 2018. Additional financial information supporting the preparation of the Schedules (including the unmodified audit opinion on the financial statements and required supplementary information) is available in the Systems' CAFR. 6. Other Post Employment Benefits
Description of the Entity and Summary of Significant Accounting Policies The South Carolina Public Employee Benefit Authority (PEBA) was created by the South Carolina General Assembly as part of Act No. 278 effective July 1, 2012. PEBA – Insurance Benefits is a state agency responsible for the administration and management of the state’s employee insurance programs, other post-employment benefits trusts and retirement systems and is part of the State of South Carolina primary government. The governing board of PEBA is a board of 11 members. The membership composition is three members appointed by the Governor, two members appointed by the President Pro Tempore of the Senate, two members appointed by the Chairman of the Senate Finance Committee, two members appointed by the Speaker of the House of Representatives and two members appointed by the Chairman of the House Ways and Means Committee. Individuals appointed to the PEBA board must possess certain qualifications. Members of the PEBA board serve for terms of two years and until their successors are appointed and qualify. Terms commence on July first of even numbered years. The PEBA board appoints the Executive Director. The laws of the State and the policies and procedures specified by the State for State agencies are applicable to all activities of PEBA. By law, the State Fiscal Accountability Authority (SFFA), which consists of five elected officials, also reviews certain PEBA Board decisions in administering the State Health Plan and other post-employment benefits (OPEB)
51
6. Other Post Employment Benefits (Continued) Description of the Entity and Summary of Significant Accounting Policies (Continued)
Plan Descriptions
The Other Post-Employment Benefits Trust Funds (OPEB Trusts), collectively refers to the South Carolina Retiree Health Insurance Trust Fund (SCRHITF) and the South Carolina Long-Term Disability Insurance Trust Fund (SCLTDITF), were established by the State of South Carolina as Act 195, which became effective in May, 2008. The SCRHITF was created to fund and account for the employer costs of the State’s retiree health and dental plans. The SCLTDITF was created to fund and account for the employer costs of the State’s Basic Long-Term Disability Income Benefit Plan. In accordance with Act 195, the OPEB Trusts are administered by the PEBA – Insurance Benefits and the State Treasurer is the custodian of the funds held in trust. The Board of Directors of PEBA has been designated as the Trustee. The OPEB Trusts are cost-sharing multiple-employer defined benefit OPEB plans. Article 5 of the State Code of Laws defines the two plans and authorizes the Trustee to at any time adjust the plans, including its benefits and contributions, as necessary to insure the fiscal stability of the plans. In accordance with the South Carolina Code of Laws and the annual Appropriations Act, the State provides post-employment health and dental and long-term disability benefits to retired State and school district employees and their covered dependents.
Benefits
The SCRHITF is a healthcare plan that covers retired employees of the State of South Carolina, including all agencies, and public school districts. The SCRHITF provides health and dental insurance benefits to eligible retirees. Generally, retirees are eligible for the health and dental benefits if they have established at least ten years of retirement service credit. For new hires beginning employment May 2, 2008 and after, retirees are eligible for benefits if they have established 25 years of service for 100% employer funding and 15-24 years of service for 50% employer funding. The SCLTDITF is a long-term disability plan that covers employees of the State of South Carolina, including all agencies and public school districts and all participating local governmental entities. The SCLTDITF provides disability payments to eligible employees that have been approved for disability.
Contributions and Funding Policies Section 1-11-710 of the South Carolina Code of Laws of 1976, as amended, requires the postemployment and long-term disability benefits to be funded through non-employer and employer contributions for active employees and retirees to the PEBA – Insurance Benefits. Non-employer contributions consist of an annual appropriation by the General Assembly and the statutorily required transfer from PEBA – Insurance Benefits reserves. The SCRHITF is funded through participating employers that are mandated by State statute to contribute at a rate assessed each year by the Department of Administration Executive Budget Office on active employee covered payroll. The covered payroll surcharge for the year ended June 30, 2018 was 5.50 percent. The South Carolina Retirement System collects the monthly covered payroll surcharge for all participating employers and remits it directly to the SCRHITF. Other sources of funding for the SCRHITF also include the implicit subsidy, or age-related subsidy inherent in the healthcare premiums structure. The implicit subsidy represents a portion of the health care expenditures paid on behalf of the employer’s active employees. For purposes of GASB Statement No. 75, this expenditure on behalf of the active employee is reclassified as a retiree health care expenditure so that the employer’s contributions towards the plan reflect the underlying age-adjusted, retiree benefit costs. Non-employer contributions include the mandatory transfer of accumulated PEBA – Insurance Benefits’ reserves and the annual appropriation budgeted by the General Assembly. It is also funded through investment income. The SCLTDITF is funded through employer contributions for active employees that elect health insurance coverage. For this group of active employees, PEBA – Insurance Benefits bills and collects premiums charged to State agencies, public school districts and other participating local governments. The monthly premium per active employee was $3.22 for the fiscal year ended June 30, 2018. The SCLTDITF premium is billed monthly by PEBA – Insurance Benefits and transferred monthly to the SCLTDITF. It is also funded through investment income.
52
6. Other Post Employment Benefits (Continued) Description of the Entity and Summary of Significant Accounting Policies (Continued)
Contributions and Funding Policies (Continued)
The allocation percentage of the OPEB amounts are calculated differently for each OPEB Trust. For the SCRHITF, the allocation percentage is based on the covered payroll surcharge contribution for each employer. Please note that actual covered payroll contributions received from SCRS for the fiscal year 2018 totaled $474,304,318. However, the covered payroll contributions total includes prior year covered payroll contribution adjustments and true-ups that net to a total of negative $511,143. In accordance with part (b) of paragraph 69 of GASB Statement No. 75, participating employers should recognize revenue in an amount equal to the employer’s proportionate share of the change in the collective net OPEB liability arising from contributions to the OPEB plan during the measurement period from non-employer contributing entities for purposes other than the separate financing of specific liabilities to the OPEB plan. Therefore, employers should classify this revenue in the same manner as it classifies grants from other entities. For purposes of measuring the net OPEB liability, deferred outflows and inflows of resources related to OPEB, and OPEB expense, information about the fiduciary net position of the OPEB Trusts, and additions to and deductions from the OPEB Trusts fiduciary net position have been determined on the same basis as they were reported by the OPEB Trusts. For this purpose, revenues are recognized when earned and expenses are recognized when incurred. Therefore, benefit and administrative expenses are recognized when due and payable. Investments are reported at fair value. PEBA – Insurance Benefits issues audited financial statements and required supplementary information for the OPEB Trust Funds. This information is publicly available through the PEBA – Insurance Benefits’ link on PEBA’s website at www.peba.sc.gov or a copy may be obtained by submitting a request to PEBA – Insurance Benefits, 202 Arbor Lake Drive, Columbia, SC 29223. PEBA is considered a division of the primary government of the state of South Carolina and therefore, OPEB Trust fund financial information is also included in the comprehensive annual financial report of the state.
Actuarial Assumptions and Methods Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and assumptions about the probability of occurrence of events far into the future. Examples include assumptions about future employment, mortality, and the healthcare cost trend. Actuarially determined amounts are subject to continual revision as actual results are compared with past expectations and new estimates are made about the future. Projections of benefits for financial reporting purposes are based on the substantive plans (as understood by the employer and plan participants) and include the types of benefits provided at the time the valuation and the historical pattern of sharing of benefit costs between the employer and plan members to that point.
53
6. Other Post Employment Benefits (Continued) Actuarial Assumptions and Methods (Continued)
Additional information as of the latest actuarial valuation for SCRHITF:
Valuation Date: June 30, 2017Actuarial Cost Method: Entry Age NormalInflation: 2.25%Investment Rate of Return: 4.00, net of OPEB Plan investment expense;
including inflationSingle Discount Rate: 3.62% as of June 30, 2018Demographic Assumptions: Based on the experience study performed for the South
Carolina Retirement Systems for the 5-year period ending June 30, 2015
Mortality: For healthy retirees, the 2016 Public Retirees of South Carolina Mortality Table for Males and the 2016 Public Retirees of South Carolina Mortality Table for Females are used with fully generational mortality projections based on Scale AA from the year 2016. Multipliers are applied to the base tables based on gender and employment type.
Health Care Trend Rate: Initial trend starting at 6.75% and gradually decreasing to an ultimate trend rate of 4.15% over a period of 14 years
Aging Factors: Based on plan specific experienceRetiree Participation: 79% for retirees who are eligible for funded premiums
59% participation for retirees who are eligible for Partial-Funded Premiums20% participation for retirees who are eligible for Non-Funded Premiums
Notes: There were no benefit changes during the year;the discount rate changed from 3.56% as of June 30, 2017 to 3.62% as of June 30, 2018
54
6. Other Post Employment Benefits (Continued) Actuarial Assumptions and Methods (Continued)
Additional information as of the latest actuarial valuation for SCLTDITF:
Valuation Date: June 30, 2017Actuarial Cost Method: Entry Age NormalInflation: 2.25%Investment Rate of Return: 4.00, net of OPEB Plan investment expense;
including inflationSingle Discount Rate: 3.91% as of June 30, 2018Salary, Termination, and Retirement Rates:
Based on the experience study performed for the South Carolina Retirement Systems for the 5-year period ending June 30, 2015
Disability Incidence: The rates used in the valuation are based on the rates developed for the South Carolina Retirement Systems pension plans
Disability Recovery:For participants in payment, 1987 CGDT Group Disability; for active employees, 60% were assumed to recover after the first year and 92% were assumed to recover after the first two years
Offsets: 40% are assumed to be eligible for Social Security benefits; assumed percentage who will be eligible for a pension plan offset varies based on employee group
Expenses: Third party administrative expenses were included in the benefit projections
Notes: The discount rate changed from 3.87% as of June 30, 2017 to 3.91% as of June 30, 2018
Roll Forward Disclosure
The actuarial valuation were performed as of June 30, 2017. Update procedures were used to roll forward the total OPEB liability to June 30, 2018.
Net OPEB Liability
The Net OPEB Liability (NOL) is calculated separately for each OPEB Trust Fund and represents that particular Trust’s Total OPEB Liability (TOL) determined in accordance with GASB No. 74 less that Trust’s fiduciary net position. The allocation of each employer’s proportionate share of the collective Net OPEB Liability and collective OPEB Expense was determined using the employer’s payroll-related contributions over the measurement period. This method is expected to be reflective of the employer’s long-term contribution effort as well as be transparent to individual employers and their external auditors. The following table represents the components of the net OPEB liability as of June 30, 2017:
Plan FiduciaryNet Position
Total Plan Employers' as a PercentagePension Fiduciary Net Net Pension of the Total Pension
OPEB Trust Liability Position Liability (Asset) Liability
SCRHITF 15,387,115,010$ 1,216,530,062$ 14,170,584,948$ 7.91%SCLTDITF 39,261,091 36,199,863 3,061,228 92.20%
55
6. Other Post Employment Benefits (Continued) Net OPEB Liability (Continued)
The TOL is calculated by the Trusts’ actuary, and each Trust’s fiduciary net position is reported in the Trust’s financial statements. The NOL is disclosed in accordance with the requirements of GASB No. 74 in the Trusts’ notes to the financial statements and required supplementary information. Liability calculations performed by the Trusts’ actuary for the purpose of satisfying the requirements of GASB Nos. 74 and 75 and are not applicable for other purposes, such as determining the Trusts’ funding requirements.
Single Discount Rate
The Single Discount Rate of 3.62% was used to measure the total OPEB liability for the SCRHITF. The accounting policy for this plan is to set the Single Discount Rate equal to the prevailing municipal bond rate as identified by PEBA. Due to the plan’s investment and funding policies, the difference between a blended discount rate and the municipal bond rate would be less than several basis points (several hundredths of one percent). A Single Discount Rate of 3.91% was used to measure the total OPEB liability for the SCLTDITF. This Single Discount Rate was based on an expected rate of return on plan investments of 4.00% and a municipal bond rate of 3.62%. The projection of cash flows to determine this Single Discount Rate assumed that employer contributions will remain at $38.64 per year for each covered active employee. Based on these assumptions, the plan’s Fiduciary Net Position and future contributions were sufficient to finance the benefit payments through the year 2037. As a result, the long-term expected rate of return on plan investments was applied to project benefit payments through the year 2037, and the municipal bond rate was applied to all benefit payments after that date.
Long-term Expected Rate of Return The long-term expected rate of return represents assumptions developed using an arithmetic building block approach primarily based on consensus expectations and market based inputs. The expected returns, along with the expected inflation rate, form the basis for the target asset allocation adopted at the beginning of the 2017 fiscal year. The long-term expected rate of return is produced by weighting the expected future real rates of return by the target allocation percentage and adding expected inflation. This information is summarized in the following table:
Allocation-Expected Weighted Long-
Target Asset Arithmetic Real Term Expected RealAsset Class Allocation Rate of Return Rate of Return
U.S. Domestic Fixed Income 80.00% 2.09% 1.67%Cash Equivalents 20.00% 0.84% 0.17%
Total 100.00% 1.84%Expected Inflation 2.25%
Total Return 4.09%
Investment Return Assumption 4.00%
The following table presents the SCRHITF’s net OPEB liability calculated using a Single Discount Rate of 3.62%, as well as what the plan’s net OPEB liability would be if it were calculated using a Single Discount Rate that is one percent lower or one percent higher:
Current1.00% Decrease Discount Rate 1.00% Decrease
(2.62%) (3.62%) (4.62%)
SCRHITF Net OPEB Liability 116,753,496$ 99,103,545$ 84,876,287$
56
6. Other Post Employment Benefits (Continued) Net OPEB Liability (Continued) Long-Term Expected Rate of Return (Continued)
Regarding the sensitivity of the SCRHITF’s net OPEB liability to changes in the healthcare cost trend rates, the following table presents the plan’s net OPEB liability, calculated using the assumed trend rates as well as what the plan’s net OPEB liability would be if were calculated using a trend rate that is one percent lower or one percent higher:
Current Healthcare1.00% Decrease Cost Trend Rate 1.00% Decrease
SCRHITF Net OPEB Liability 81,546,217$ 99,103,545$ 121,801,918$
The following table presents the SCLTDITF’s net OPEB liability calculated using a Single Discount Rate of 3.91%, as well as what the plan’s net OPEB liability would be if it were calculated using a Single Discount Rate that is one percent lower or one percent higher:
Current1.00% Decrease Discount Rate 1.00% Decrease
(2.91%) (3.91%) (4.91%)
SCLTDITF Net OPEB Liability 28,496$ 19,067$ 9,865$
OPEB Expense Components of collective OPEB expense reported in the Schedule of OPEB Amounts by Employer for the fiscal year ended June 30, 2018 are presented below.
Description SCRHITF SCLTDITF
Service Cost 3,644,877$ 47,061$ Interest on the Total OPEB Liability 3,656,693 9,227 Projected Earnings on Plan Investments (326,013) (9,074) OPEB Plan Administrative Expense 455 62 Recognition of Outflow (Inflow) of Resources
due to Liabilities (1,288,397) (274) Recognition of Outflow (Inflow) of Resources
due to Assets 105,173 3,109
Total Aggregate OPEB Expense 5,792,788$ 50,111$
Additional items included in Total Employer OPEB Expense are the current period amortized portions of deferred outflows and/or inflows of resources related to changes in employers’ proportionate share of the collective NOL and differences between actual employer contributions and proportionate share of total plan employer contributions.
Deferred Outflows and Inflows of Resources As discussed in paragraph 86 of GASB Statement No. 75, differences between expected and actual experience and changes in assumptions are recognized in OPEB expense using a systematic and rational method over a closed period equal to the average of the expected remaining service lives of all employees that are provided OPEB through the OPEB plan (active and inactive members) determined as of the beginning of the measurement period.
57
6. Other Post Employment Benefits (Continued) Deferred Outflows and Inflows of Resources (Continued)
Additionally, differences between projected and actual earnings on OPEB plan investments should be recognized in OPEB expense using a systematic and rational method over a closed five-year period. For this purpose, the deferred outflows and inflows of resources are recognized in the OPEB expense as a level dollar amount over the closed period identified above. At June 30, 2018, the District reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:
Total Net DeferredDeferred Outflows Deferred Inflows Deferred Outflows Deferred Inflows Outflows/ (Inflows)
of Resources of Resources of Resources of Resources of Resources
Net Difference Between Expectedand Actual Experience 1,484,616$ 34,530$ -$ -$ 1,450,086$
Net Difference Between Projected and Actual Investment Experience 380,001 - 11,076 1,166 389,911
Assumption Changes - 8,070,018 - 1,242 (8,071,260) Deferred Amounts from Changes in
Proportionate Share and Differences Between Employer Contributions and Proportionate Share
of Employer Contributions - 2,634,167 - 1,526 (2,635,693)
1,864,617$ 10,738,715$ 11,076$ 3,934$ (8,866,956)$
SCRHITF SCLTDITF
Deferred outflows of resources of $3,615,300 related to OPEB resulted from District contributions subsequent to the measurement date will be recognized as a reduction of the net OPEB liability in the year ended June 30, 2020. Any other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in pension expense as follows:
Year Ended AggregateJune 30, SCRHITF SCLTDITF Totals
2020 1,607,919$ (2,668)$ 1,605,251$ 2021 1,607,919 (2,668) 1,605,251 2022 1,607,919 (2,668) 1,605,251 2023 1,648,611 (1,308) 1,647,303 2024 1,713,093 441 1,713,534
Thereafter 688,637 1,729 690,366
8,874,098$ (7,142)$ 8,866,956$
Additional Financial and Actuarial Information
Information contained in these Notes to the Schedules of OPEB Amounts by Employer (the Schedules) were compiled from the OPEB Trust Funds audited financial statements for the fiscal year ended June 30, 2018, and the accounting and financial reporting actuarial valuations as of June 30, 2018. Additional financial information supporting the preparation of the Schedules (including the unmodified audit opinion on the financial statements and required supplementary information) is available in the OPEB Trust Funds audited financial statements. Employers are encouraged to review Illustration II in Appendix C of GASB Statement No. 75, which provides a sample footnote disclosure and required supplementary information for a cost-sharing multiple-employer defined benefit OPEB plan.
58
7. Long-Term Obligations On March 31, 2009, the District issued $1,625,000 in General Obligation Bonds with interest rates ranging from 3.00% to 4.00% payable on March 1, 2019. Payments on March 1 and September 1 of each year are due pursuant to the bond agreement. Proceeds were used to fund various capital improvements as well as school technology and equipment needs. This bond was paid in full during the year ended June 30, 2019. On August 4, 2010, the District issued $17,000,000 in Qualified School Construction Bonds (“QSCB”) in for the purpose of providing funds to pay the cost of several planned projects to include existing facility refurbishment, and replacement as well as the costs of some new construction and to pay the costs of issuance of the QSCBs. The balance of $16,900,000 in principal on this QSCB is due on March 1, 2025. The District entered into an Escrow and Paying Agent Agreement with Regions Bank in August 2010 for the purpose of establishing a sinking fund to accumulate assets to be used for the retirement of this debt at maturity. In accordance with the terms of this agreement, the District will make annual deposits to Regions Bank to be held by them in a sinking fund until maturity. The funds on deposit have been invested with Citigroup Global Markets Inc. (“Citi”) pursuant to a Master Repurchase Agreement between Regions Bank and Citi, with the Bank of New York Mellon as custodian. The first deposit of $100,000 was made in March 2011 and the District began making annual deposits of $100,000 for a period of three (3) years through 2013, followed by a deposit of $200,000 in 2014, $500,000 in 2015, $1,000,000 in 2016, then 9 annual payments of $1,344,427 in 2017 through 2025. The District anticipates that amounts on deposit plus the expected yield (investment earnings) of these funds on deposit will produce an amount equal to the required principal payment due in March 2025 of $16,900,000. The balance in the escrow sinking fund account at June 30, 2019 was approximately $6,498,219 and is included in with the District’s Investments in the Financial Statements. On October 12, 2010, the District issued $4,100,000 in General Obligation Bonds with interest rates ranging from 2.00% to 3.00% payable on March 1, 2020. Payments on March 1 and September 1 of each year are due pursuant to the bond agreement. Proceeds were used to fund various capital improvements as well as school technology and equipment needs. On October 17, 2012, the District issued $5,200,000 in General Obligation Bonds with interest rates ranging from 1.00% to 1.55% payable on March 1, 2022. Payments on March 1 and September 1 of each year are due pursuant to the bond agreement. Proceeds were used to fund various capital improvements as well as school technology and equipment needs. On March 5, 2015, the District issued $4,350,000 in General Obligation Bonds with an interest rate of 5.00% payable on March 1, 2019. Payments on March 1 and September 1 of each year are due pursuant to the bond agreement. Proceeds were used to fund various capital improvements as well as school technology and equipment needs. This bond was paid in full during the year ended June 30, 2019. On July 8, 2015, the District issued $4,400,000 in General Obligation Bonds with an interest rate of 2.00% payable on March 1, 2020. Payments on March 1 and September 1 of each year are due pursuant to the bond agreement. Proceeds were used to fund various capital improvements as well as school technology and equipment needs. On September 1, 2016, the District issued $4,500,000 in General Obligation Bonds with an interest rate of 5.00% payable on March 1, 2019. Payments on March 1 and September 1 of each year are due pursuant to the bond agreement. Proceeds were used to fund various capital improvements as well as school technology and equipment needs. This bond was paid in full during the year ended June 30, 2019. On May 31, 2017, the District issued $4,500,000 in General Obligation Bonds with interest rates ranging from 4.00% to 5.00% payable on March 1, 2022. Payments on March 1 and September 1 of each year are due pursuant to the bond agreement. Proceeds were used to fund various capital improvements as well as school technology and equipment needs. On June 7, 2018, the District issued $4,500,000 in General Obligation Bonds with an interest rate of 5.00% payable on March 1, 2023. Payments on March 1 and September 1 of each year are due pursuant to the bond agreement. Proceeds were used to fund various capital improvements as well as school technology and equipment needs.
59
7. Long-Term Obligations (Continued) On June 4, 2019 the District issued $5,000,000 in General Obligation Bonds with an interest rate of 5.00% payable on March 1, 2023. Payments on March 1 and September 1 of each year are due pursuant to the bond agreement. Proceeds were used to fund various capital improvements as well as school technology and equipment needs. On June 4, 2019 the District issued $50,000,000 in General Obligation Bonds with interest rates ranging from 3.00% to 5.00% payable on March 1, 2044. Interest only payments are due on on March 1 and September 1 of each year until March 1, 2023, followed by payments of principal and interest pursuant to the bond agreement. This issuance is part of the November 8, 2016 bond referendum approved by Georgetown County voters authorizing the Board to issue general obligation bonds in a principal not to exceed $165,000,000. The bond proceeds will be used to fund renovations and/or additions at schools and support facilities. On December 13, 2011 the District issued $56,600,000 Advanced Refunding General Obligation Bonds, Series 2011 to refinance the existing 2004 Bonds. This advance refunding established a purchase escrow trust fund where the proceeds from the refunding debt were placed pending the maturity of the redemption of the existing debt in 2015. This advance refunding resulted in a defeasance of the old debt, where the debt is treated as though it had, in fact, been redeemed. The debt defeased through this issuance was $61,000,000. The economic gain resulting from the transaction is considered to be fully amortized as of June 30, 2019. General Obligation Bonds and Advance Refunding Obligation Bonds consist of the following at June 30, 2019:
OutstandingDate of Issue Interest Rates Maturity Original Issue June 30, 2019
March 31, 2009 3.00% - 4.00% 2019 1,625,000$ -$ August 4, 2010 1.00% - 5.38% 2025 17,000,000 16,900,000 October 12, 2010 2.00% - 3.00% 2020 4,100,000 1,495,000 October 17, 2012 1.00% - 1.55% 2022 5,200,000 2,210,000 March 5, 2015 5.00% 2019 4,350,000 - July 8, 2015 2.00% 2020 4,400,000 845,000 September 1, 2016 5.00% 2019 4,500,000 - May 31, 2017 4.00% - 5.00% 2022 4,500,000 3,290,000 June 7, 2018 5.00% 2023 4,500,000 3,640,000 June 4, 2019 3.00% - 5.00% 2044 50,000,000 50,000,000 June 4, 2019 5.00% 2023 5,000,000 5,000,000 December 13, 2011 2.00% - 5.00% 2020 56,600,000 6,005,000
Totals 161,775,000$ 89,385,000$
The annual requirements to amortize all bonds outstanding as of June 30, 2019, are as follows:
Year EndedJune 30, Principal Interest Total
2020 10,950,000 3,178,388$ 14,128,388$ 2021 5,435,000 3,236,795 8,671,795 2022 4,585,000 2,998,345 7,583,345 2023 3,740,000 2,815,625 6,555,625 2024 2,885,000 2,628,625 5,513,625
2025 - 2029 27,450,000 7,613,375 35,063,375 2030 - 2034 9,770,000 4,601,400 14,371,400 2035 - 2039 11,365,000 3,023,850 14,388,850 2040 - 2044 13,205,000 1,212,150 14,417,150
89,385,000$ 31,308,553$ 120,693,553$
60
7. Long-Term Obligations (Continued) Long-term liability activity for the year ended June 30, 2019, was as follows:
Beginning Ending Due WithinBalance Additions Reductions Balance One Year
Governmental ActivitiesBonds Payable:
Issued March 31, 2009 240,000$ -$ 240,000$ -$ -$ Issued August 4, 2010 16,900,000 - - 16,900,000 - Issued October 12, 2010 2,870,000 - 1,375,000 1,495,000 1,495,000 Issued October 17, 2012 2,545,000 - 335,000 2,210,000 345,000 Issued March 5, 2015 1,990,000 - 1,990,000 - - Issued July 8, 2015 1,675,000 - 830,000 845,000 845,000 Issued September 1, 2016 2,165,000 - 2,165,000 - - Issued May 31, 2017 3,990,000 - 700,000 3,290,000 535,000 Issued June 7, 2018 4,500,000 - 860,000 3,640,000 845,000 Issued June 4, 2019 - 50,000,000 - 50,000,000 - Issued June 4, 2019 - 5,000,000 - 5,000,000 880,000
Advanced Refunding General Obligation Bonds:Issued December 13, 2011 11,555,000 - 5,550,000 6,005,000 6,005,000
Total Bonds Payable 48,430,000 55,000,000 14,045,000 89,385,000 10,950,000
Plus/(Less) Deferred AmountsFor Premiums 3,648,385 3,410,478 1,879,727 5,179,136 1,371,726 For Discounts (512,326) - (512,326) - -
Total Bonds Related Liabilities 51,566,059 58,410,478 15,412,401 94,564,136 12,321,726
Compensated Absences 956,062 495,487 422,581 1,028,968 454,804
Government Activity Long-Term Liabilities 52,522,121$ 58,905,965$ 15,834,982$ 95,593,104$ 12,776,530$
8. Short Term Obligations
Short-Term Obligations June 30, 2018 Additions Reductions June 30, 2019
Governmental Activities:Bond Anticipation Notes 80,000,000$ 100,000,000$ 80,000,000$ 100,000,000$
Total Governmental Activities 80,000,000$ 100,000,000$ 80,000,000$ 100,000,000$
On June 20, 2018, the District issued $80,000,000 in a General Obligation Bond Anticipation Note with an interest rate of 3.00% payable on June 20, 2019. This issuance is part of the November 8, 2016, bond referendum approved by Georgetown County voters authorizing the Board of the Georgetown County School District to issue general obligation bonds in a principal amount not to exceed $165 million. The bond proceeds were be used to fund renovations and/or additions at all schools and support facilities. On June 19, 2019, the District issued $100,000,000 in a General Obligation Bond Anticipation Note with an interest rate of 3.00% payable on June 19, 2020. This issuance is part of the November 8, 2016, bond referendum approved by Georgetown County voters authorizing the Board of the Georgetown County School District to issue general obligation bonds in a principal amount not to exceed $165 million. The bond proceeds will be used to fund renovations and/or additions at all schools and support facilities.
61
9. Unearned Revenue Revenue received in advance (those where asset recognition criteria have been met, but for which revenue recognition criteria have not been met) consist of the following:
Special Projects EIAFund Fund Total
Unexpended Carryover Amounts 134,210$ 1,361,866$ 1,496,076$
10. Transfers In and Out The transfers during the year ended June 30, 2019, consisted of the following:
Special Debt FoodTransfer From General Projects Service Service Total
General Fund -$ 431,406$ -$ -$ 431,406$ Special Projects 317,927 - - - 317,927 Special Revenue - EIA 2,602,612 - - - 2,602,612 Capital Projects - - 331,519 98,430 429,949 Food Service 283,968 - - - 283,968
Totals 3,204,507$ 431,406$ 331,519$ 98,430$ 4,065,862$
Transfer To
The transfers during the year were made for the following purposes:
General Fund to Special Projects To transfer funds to pay for excess costs of programs.
Special Projects to General Fund
To transfer allowable indirect costs.
Special Revenue-EIA to General Fund To transfer EIA Teacher Salary Increase and Fringe Benefits Strategies to the general fund where expenditures are recorded.
Capital Projects to Debt Service Fund To transfer amounts to pay for cost of issuance of General Obligation Bonds.
Capital Projects to Food Service
To transfer amounts to pay for Food Service equipment.
Food Service to General Fund
To transfer allowable indirect costs.
62
11. Interfund Receivables and Payables Interfund balances are comprised of expenditures and expenses paid on behalf of one fund by another and are to be repaid. All cash activities are recorded in the general fund, and as a result, receivables and payables exist at year end that are either due to or due from the general fund to/from other funds. Various differences include special revenue fund expenditures not reimbursed from the State Department of Education until after the fiscal year end, fringe amounts paid by the general fund for food service, taxes receivable for debt service, and building project costs. As of June 30, 2019, amounts due from/to other funds related to the School District’s pooled cash are as follows:
Interfund InterfundReceivables Payables
General Fund 1,707,876$ -$ Special Revenue Fund - Special Projects - 1,707,876
Total for Primary Government 1,707,876$ 1,707,876$
12. Operating Leases The School District is obligated to account for certain leases as operating leases. Operating leases do not give rise to property rights or lease obligations and, therefore, the results of the lease agreements are not reflected in the School District's liabilities. Current rental expenditures for the year ended June 30, 2019, were $165,731. The following is a schedule by years of future minimum rental payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of June 30, 2019:
Fiscal Year EndedJune 30, Total
2020 169,874$ 2021 174,121 2022 178,474 2023 182,936 2024 187,510
Total Rent Payments 892,915$
63
13. Verification of Maintenance of Fiscal Effort The South Carolina Department of Education guidelines require Districts to maintain local fiscal effort in complying with certain state and federal grant programs. The combined fiscal effort per student or aggregate expenditures from state and local funds for free public education for the preceding year must be at least 90% of the combined fiscal effort for the second preceding year, unless specifically waived by the State. The following tabulation of per pupil expenditures indicates that local effort has been maintained.
Fiscal Total Pupil Per PupilYear Expenditures A.D.M. Expenditures
2009 - 2010 71,057,760$ 9,448 7,521$ 2010 - 2011 67,759,884 9,369 7,232 2011 - 2012 71,494,542 9,256 7,724 2012 - 2013 75,308,533 9,148 8,232 2013 - 2014 77,668,509 9,273 8,376 2014 - 2015 78,465,866 9,105 8,618 2015 - 2016 79,677,289 9,044 8,810 2016 - 2017 80,874,213 9,407 8,597 2017 - 2018 82,903,832 9,369 8,849 2018 - 2019 84,139,007 8,925 9,427
14. Pupil Activity Fund The South Carolina Department of Education requires a Schedule of Receipts, Disbursements, and Changes in Amounts Due to Pupil Activities for the Pupil Activity Fund, although the Pupil Activity Fund is a Fiduciary Fund which does not report results of operations. Accordingly, this schedule has been included in the combining fund statements and schedules in an effort to satisfy this requirement and accounting principles generally accepted in the United States of America. 15. Risk Management The District is exposed to various risks of loss related to torts; thefts of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. The District pays an annual premium to the South Carolina Budget and Control Board Office of Insurance Reserve Fund for its general insurance. The South Carolina Budget and Control Board Office of Insurance Reserve Fund reinsures through commercial companies. The District acquires insurance from the South Carolina School Board Insurance Trust for job related injury and illness (workers' compensation) for its employees. Workers' compensation is insured under a retrospectively rated policy where premiums are estimated throughout the year and adjusted subsequent to the policy period based on actual experience. General blanket fidelity bond insurance from a private insurer was also maintained for the District's employees as well as athletic catastrophic insurance. There were no significant reductions in insurance coverage from the previous year and no settlements have exceeded insurance coverage for the past three years ended June 30, 2019, 2018 and 2017.
64
16. Fund Balances The District follows GAAP reporting requirements which provides clearly defined fund balance categories to make the nature and extent of the constraints placed on a government’s fund balance transparent. The following classifications describe the relative strength of the spending constraints placed on the purposes for which resources can be used:
Government Fund Financial Statements
Nonspendable Fund Balance Amounts that are not in a spendable form or are required to be maintained in tact;
Restricted Fund Balance Amounts constrained to specific purposes by their providers (such as grants, bondholders and higher levels of government) through constitutional provisions of enabling legislation;
Committed Fund Balance Amounts constrained to specific purposes by a government itself, using its highest level of decision-making authority, through approval by the Board of Education. These amounts are to be reported as committed and cannot be used for any other purpose unless the government takes the same highest level action by approval of the Board of Education to remove or change the constraint;
Assigned Fund Balance Amounts a government intends to use for a specific purpose; intent can be expressed by the Board of Education or by the Superintendent to which the Board of Education has delegated the authority.
Unassigned Fund Balance Amounts that are available for any purpose; positive amounts are reported only in the general fund. When committed, assigned or unassigned resources or available for use, it is the District’s policy to use committed, assigned and unassigned resources, respectively.
65
16. Fund Balances (Continued) The Fund Balances of the Governmental Funds are as follows as of June 30, 2019:
Debt CapitalGeneral Service Projects
Fund Fund Fund TotalFund Balances
Non-SpendablePrepaid Items 10,549$ -$ -$ 10,549$
Total Non-Spendable 10,549 - - 10,549
Restricted For:Debt Service - 7,636,441 - 7,636,441 Capital Projects - - 3,436,428 3,436,428
Total Restricted - 7,636,441 3,436,428 11,072,869
Committed For:Special Programs 150,000 - - 150,000
Unassigned 10,697,601 - - 10,697,601
Total Fund Balances 10,858,150$ 7,636,441$ 3,436,428$ 21,931,019$
Government-Wide and Proprietary Fund Financial Statements
Net Investment in Capital Assets
Represents the capital assets, net of accumulated depreciation, reduced by the outstanding balances of any borrowings attributable to the acquisition, construction, or improvement of those assets.
Restricted Net Position Represents net position restricted externally by creditors, grantors, contributors or laws and regulations of other governments; or restrictions imposed by law through constitutional provisions or enabling legislation.
Unrestricted Represents the remainder of the School District's net position in government-wide and business-type activities. 17. Contingencies Lawsuits have been brought against the District for which a prediction regarding the outcome or amount of recovery cannot be made at this time. If the plaintiffs were to prevail in these suits, it is believed that monetary damages should not exceed the limits of the District's insurance coverage and the School Board Insurance Trust would be responsible for payment. The only anticipated costs to the District are believed to be the expenses associated with defending the suits.
66
18. Reconciliation of Certain Functional Expenditures to Functional Expenses The following is a reconciliation of certain functional expenses from the Statement of Revenues, Expenditures and Changes in Fund Balance to the Government-Wide Statement of Activities. The District allocated capital outlay expenditures that were in excess of amounts capitalized as part of capital assets additions based upon actual outlay expenditures recorded in the governmental fund statements under each function.
CommunityInstruction Support Service Intergovernmental
From Statement of Revenues, Expendituresand Changes in Fund Balance 53,404,839$ 46,069,736$ 135,714$ 2,885,575$
Reconciling Items:Depreciation Expense 1,943,022 3,589,075 4,911 - Loss on Sale of Capital Assets (6,845) (12,643) (17) - Compensated Absences 25,607 47,299 - - Pension & OPEB Liability Contributions 1,270,109 2,346,099 3,210 - Allocation of Capital Outlay - 2,001,800 - - Allocation of Intergovernmental Activity 1,012,593 1,870,422 2,559 (2,885,575)
From Statement of Activities 57,649,325$ 55,911,788$ 146,377$ -$
19. Tax Abatements The District’s property tax revenues were reduced by $1,849,010 for the fiscal year ended June 30, 2019 under agreements entered into by Georgetown County. These agreements are considered fee-in-lieu of tax and special source revenue credit programs related to economic development programs. 20. Subsequent Events The board held the final public hearing for the adoption of the 2019-20 General Fund in a special board meeting on July 9, 2019. After the public hearing, the 2019-20 General Fund budget was approved in the amount of $91,560,428 by a vote of 8–0. The board also approved an operations millage increase to support the approved 2019-20 General Fund budget of 5.9 mills at the meeting on July 9, 2019. The millage for operations increased to 115.6 mills from 109.7. This included increases allowed but not previously imposed and is within the allowable limits of SC Code of Laws 6-1-320. Management has evaluated the effects subsequent events would have on the financial statements through the date of the auditor’s report, which is the date the financial statements were available for issuance.
67
REQUIRED SUPPLEMENTARY INFORMATION
2010
*20
11*
2012
*20
13*
2014
2015
2016
2017
2018
2019
SCR
SD
istri
ct's
Pro
porti
on o
f Net
Pen
sion
Lia
bilit
yN
/AN
/AN
/AN
/AN
/A10
2,85
9,18
9$
120,
736,
725
$ 13
1,04
0,13
1$
131,
870,
750
$ 12
7,45
3,54
1$
Dis
trict
's P
ropo
rtion
ate
Shar
e of
Net
Pen
sion
Lia
bilit
yN
/AN
/AN
/AN
/AN
/A0.
5974
39%
0.63
6613
%0.
6134
88%
0.58
5790
%0.
5688
16%
Dis
trict
's C
over
ed-E
mpl
oyee
Pay
roll
N/A
N/A
N/A
N/A
N/A
57,9
59,5
84
60
,820
,612
60,6
09,5
11
60
,201
,864
58,9
29,3
29
N/A
N/A
N/A
N/A
N/A
177.
47%
198.
51%
216.
20%
219.
05%
216.
28%
N/A
N/A
N/A
N/A
N/A
59.9
0%57
.00%
52.9
0%53
.30%
54.1
0%
POR
SD
istri
ct's
Pro
porti
on o
f Net
Pen
sion
Lia
bilit
yN
/AN
/AN
/AN
/AN
/A10
8,56
7$
17
2,42
0$
19
1,73
2$
22
4,78
1$
22
9,19
1$
Dis
trict
's P
ropo
rtion
ate
Shar
e of
Net
Pen
sion
Lia
bilit
yN
/AN
/AN
/AN
/AN
/A0.
0056
70%
0.00
7910
%0.
0075
60%
0.00
8200
%0.
0080
88%
Dis
trict
's C
over
ed-E
mpl
oyee
Pay
roll
N/A
N/A
N/A
N/A
N/A
96,4
44
96
,371
110,
399
109,
045
117,
328
N/A
N/A
N/A
N/A
N/A
112.
57%
178.
91%
173.
67%
206.
14%
195.
34%
N/A
N/A
N/A
N/A
N/A
67.5
0%64
.60%
60.4
0%60
.90%
61.7
0%
* Not
e:
The
amou
nts
pres
ente
d fo
r eac
h fis
cal y
ear w
ere
dete
rmin
ed a
s of
Jun
e 30
th o
f the
pre
cedi
ng y
ear (
mea
sure
men
t dat
e)
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYSC
HED
ULE
OF
DIS
TRIC
T'S
PRO
POR
TIO
NAT
E SH
ARE
OF
THE
NET
PEN
SIO
N L
IAB
ILIT
Y - S
CR
S AN
D P
OR
SLA
ST T
EN F
ISC
AL Y
EAR
S
Fisc
al Y
ear
This
sch
edul
e is
pre
sent
ed to
illu
stra
te th
e re
quire
men
t to
show
info
rmat
ion
for t
en (1
0) y
ears
. How
ever
, unt
il a
full
ten
year
tren
d is
com
pile
d, in
form
atio
n is
pre
sent
ed fo
r tho
se y
ears
for
whi
ch in
form
atio
n is
ava
ilabl
e.
Dis
trict
's P
ropo
rtion
ate
Shar
e of
Net
Pen
sion
Lia
bilit
y as
a P
erce
ntag
e of
Its'
Cov
ered
-Em
ploy
ee P
ayro
ll
Plan
Fid
ucia
ry N
et P
ositi
on a
s a
Perc
enta
ge o
f the
To
tal P
ensi
on L
iabi
lity
Dis
trict
's P
ropo
rtion
ate
Shar
e of
Net
Pen
sion
Lia
bilit
y as
a P
erce
ntag
e of
Its'
Cov
ered
-Em
ploy
ee P
ayro
ll
Plan
Fid
ucia
ry N
et P
ositi
on a
s a
Perc
enta
ge o
f the
To
tal P
ensi
on L
iabi
lity
68
2010
*20
11*
2012
*20
13*
2014
*20
1520
1620
1720
1820
19
SCR
SC
ontra
ctua
lly R
equi
red
Con
tribu
tion
N/A
N/A
N/A
N/A
N/A
6,40
3,41
7$
6,47
2,71
1$
6,73
8,26
0$
7,89
1,41
2$
8,35
9,35
0$
Con
tribu
tions
in R
elat
ion
to th
e C
ontra
ctua
lly R
equi
red
Con
tribu
tion
N/A
N/A
N/A
N/A
N/A
(6,4
03,4
17)
(6
,472
,711
)
(6,7
38,2
60)
(7
,891
,412
)
(8,3
59,3
50)
Con
tribu
tion
Def
icie
ncy
(Exc
ess)
N/A
N/A
N/A
N/A
N/A
-$
-$
-$
-$
-$
Dis
trict
's C
over
ed-E
mpl
oyee
Pay
roll
N/A
N/A
N/A
N/A
N/A
57,9
59,5
84
60,8
20,6
12
60,6
09,5
11
60,2
01,8
64
58,9
29,3
29
Con
tribu
tions
as
a Pe
rcen
tage
of
Cov
ered
-Em
ploy
ee P
ayro
llN
/AN
/AN
/AN
/AN
/A11
.05%
10.6
4%11
.12%
13.1
1%14
.19%
POR
SC
ontra
ctua
lly R
equi
red
Con
tribu
tion
N/A
N/A
N/A
N/A
N/A
12,5
47$
12,8
56$
15,2
79$
17,2
73$
20,2
27$
Con
tribu
tions
in R
elat
ion
to th
e C
ontra
ctua
lly R
equi
red
Con
tribu
tion
N/A
N/A
N/A
N/A
N/A
(12,
547)
(1
2,85
6)
(15,
279)
(1
7,27
3)
(20,
227)
Con
tribu
tion
Def
icie
ncy
(Exc
ess)
N/A
N/A
N/A
N/A
N/A
-$
-$
-$
-$
-$
Dis
trict
's C
over
ed-E
mpl
oyee
Pay
roll
N/A
N/A
N/A
N/A
N/A
96,4
44
96,3
71
110,
399
109,
045
117,
328
Con
tribu
tions
as
a Pe
rcen
tage
of
Cov
ered
-Em
ploy
ee P
ayro
llN
/AN
/AN
/AN
/AN
/A13
.01%
13.3
4%13
.84%
15.8
4%17
.24%
* Not
e:
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYSC
HED
ULE
OF
DIS
TRIC
T C
ON
TRIB
UTI
ON
S - S
CR
S AN
D P
OR
SLA
ST T
EN F
ISC
AL Y
EAR
S
Fisc
al Y
ear
This
sch
edul
e is
pre
sent
ed to
illu
stra
te th
e re
quire
men
t to
show
info
rmat
ion
for t
en (1
0) y
ears
. How
ever
, unt
il a
full
ten
year
tren
d is
com
pile
d, in
form
atio
n is
pre
sent
ed fo
r tho
se
year
s fo
r whi
ch in
form
atio
n is
ava
ilabl
e.
69
2010
*20
11*
2012
*20
13*
2014
*20
15*
2016
*20
1720
1820
19
SCR
HIT
FD
istri
ct's
Pro
porti
on o
f Net
OPE
B Li
abili
tyN
/AN
/AN
/AN
/AN
/AN
/AN
/A10
4,18
0,07
5$
97
,528
,374
$
99,1
03,5
45$
Dis
trict
's P
ropo
rtion
ate
Shar
e of
Net
OPE
B Li
abili
tyN
/AN
/AN
/AN
/AN
/AN
/AN
/A0.
7200
41%
0.72
0041
%0.
6993
61%
Dis
trict
's C
over
ed-E
mpl
oyee
Pay
roll
N/A
N/A
N/A
N/A
N/A
N/A
N/A
60,6
09,5
11
60
,201
,864
58,9
29,3
29
N/A
N/A
N/A
N/A
N/A
N/A
N/A
171.
89%
162.
00%
168.
17%
N/A
N/A
N/A
N/A
N/A
N/A
N/A
6.60
%7.
60%
7.91
%
* Not
e:
The
amou
nts
pres
ente
d fo
r eac
h fis
cal y
ear w
ere
dete
rmin
ed a
s of
Jun
e 30
th o
f the
pre
cedi
ng y
ear (
mea
sure
men
t dat
e)
This
sch
edul
e is
pre
sent
ed to
illu
stra
te th
e re
quire
men
t to
show
info
rmat
ion
for t
en (1
0) y
ears
. How
ever
, unt
il a
full
ten
year
tren
d is
com
pile
d, in
form
atio
n is
pre
sent
ed fo
r th
ose
year
s fo
r whi
ch in
form
atio
n is
ava
ilabl
e.
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYSC
HED
ULE
OF
DIS
TRIC
T'S
PRO
POR
TIO
NAT
E SH
ARE
OF
THE
NET
OPE
B L
IAB
ILIT
Y - S
CR
HIT
FLA
ST T
EN F
ISC
AL Y
EAR
S
Fisc
al Y
ear
Dis
trict
's P
ropo
rtion
ate
Shar
e of
Net
OPE
B Li
abili
ty a
s a
Perc
enta
ge o
f Its
' Cov
ered
-Em
ploy
ee P
ayro
ll
Plan
Fid
ucia
ry N
et P
ositi
on a
s a
Perc
enta
ge o
f the
To
tal O
PEB
Liab
ility
70
2010
*20
11*
2012
*20
13*
2014
*20
15*
2016
*20
1720
1820
19
SCR
HIT
FC
ontra
ctua
lly R
equi
red
Con
tribu
tion
N/A
N/A
N/A
N/A
N/A
N/A
N/A
3,23
6,37
1$
3,31
7,09
6$
3,
572,
323
$
Con
tribu
tions
in R
elat
ion
to th
e C
ontra
ctua
lly R
equi
red
Con
tribu
tion
N/A
N/A
N/A
N/A
N/A
N/A
N/A
(3,2
36,3
71)
(3
,317
,096
)
(3
,572
,323
)
Con
tribu
tion
Def
icie
ncy
(Exc
ess)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
-$
-$
-
$
Dis
trict
's C
over
ed-E
mpl
oyee
Pay
roll
N/A
N/A
N/A
N/A
N/A
N/A
N/A
60,6
09,5
11
60,2
01,8
64
58
,929
,329
Con
tribu
tions
as
a Pe
rcen
tage
of
Cov
ered
-Em
ploy
ee P
ayro
llN
/AN
/AN
/AN
/AN
/AN
/AN
/A5.
34%
5.51
%6.
06%
* Not
e:
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYSC
HED
ULE
OF
DIS
TRIC
T C
ON
TRIB
UTI
ON
S - S
CR
HIT
FLA
ST T
EN F
ISC
AL Y
EAR
S
Fisc
al Y
ear
This
sch
edul
e is
pre
sent
ed to
illu
stra
te th
e re
quire
men
t to
show
info
rmat
ion
for t
en (1
0) y
ears
. How
ever
, unt
il a
full
ten
year
tren
d is
com
pile
d,
info
rmat
ion
is p
rese
nted
for t
hose
yea
rs fo
r whi
ch in
form
atio
n is
ava
ilabl
e.
71
COMBINING AND INDIVIDUAL
FUND STATEMENTS AND SCHEDULES
GENERAL FUND
The General Fund is the general operating fund of the School District. It is used to account for all financial resources except for those required to be accounted for in another fund. All property taxes, intergovernmental revenues, and miscellaneous revenues are recorded in this fund except amounts which are specifically collected to service debt or capacity. Operational expenditures for general education, support services and other departments of the District are paid through the General Fund. The following Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual for the General Fund has been prepared in the format mandated by the South Carolina Department of Education. The account numbers shown on the schedule are also mandated by the South Carolina Department of Education.
Assets
Cash & Cash Equivalents 5,737,983$ Investments 6,498,219 Property Tax Receivable 1,439,568 Due From Other Funds 1,707,876 Due From County Government 5,732,920 Prepaid Items 10,549 Other Receivables 842,506
Total Assets 21,969,621$
Liabilities, Deferred Inflows of Resources & Fund Balances
Liabilities
Accounts Payable 727,559 Accrued Salaries 5,418,996 Accrued Payroll Related Liabilities 4,964,337 Other Liabilities 579
Total Liabilities 11,111,471
Fund Balances
Non-Spendable 10,549 Committed 150,000 Unassigned 10,697,601
Total Fund Balances 10,858,150
Total Liabilities, Deferred Inflows of Resources & Fund Balances 21,969,621$
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYGENERAL FUNDBALANCE SHEET
JUNE 30, 2019
72
VarianceFinal Favorable
Budget Actual (Unfavorable)
Revenues
1000 Revenue from Local Sources
1100 Taxes Levied/Assessed by the LEA:1110 Ad Valorem Taxes-Including Delinquent (Independent) 41,905,505$ 40,974,015$ (931,490)$ 1140 Penalties & Interest on Taxes (Independent) 295,412 246,546 (48,866)
1200 Revenue From Local Governmental Units Other Than LEAs1280 Revenue in Lieu of Taxes (Independent and Dependent) 1,031,327 1,718,774 687,447
1300 Tuition1310 From Patrons for Regular Day School 15,000 95,570 80,570
1500 Earnings on Investments:1510 Interest on Investments - 12,859 12,859
1900 Other Revenue from Local Sources:1910 Rentals 60,000 46,247 (13,753) 1950 Refund of Prior Year's Expenditures - 1,988 1,988
1990 Miscellaneous Local Revenue:1993 Receipt of Insurance Proceeds - 3,475 3,475 1994 Receipt of Legal Settlements - 20 20 1999 Revenue from Other Local Sources 109,400 494,707 385,307
Total Local Sources 43,416,644 43,594,201 177,557
2000 Intergovernmental Revenue:
2200 Payments from Public Charter School - 28,275 28,275
Total Intergovernmental Revenues - 28,275 28,275
3000 Revenue from State Sources
3100 Restricted State Funding:3130 Special Programs:
3131 Handicapped Transportation - 1,283 1,283 3160 School Bus Driver Salary (Includes Hazardous Condition Transportation) 684,848 786,563 101,715 3162 Transportation Workers' Compensation 47,863 49,574 1,711 3180 Fringe Benefits Employer Contributions (No Carryover Provision) 5,878,280 5,748,134 (130,146) 3181 Retiree Insurance (No Carryover Provision) 2,355,744 2,603,762 248,018
3300 Education Finance Act:3310 Full-Time Programs:
3311 Kindergarten 627,312 580,621 (46,691) 3312 Primary 1,847,308 1,763,655 (83,653) 3313 Elementary 3,250,250 3,063,648 (186,602) 3314 High School 1,397,358 1,167,074 (230,284) 3315 Trainable Mentally Handicapped 33,535 29,206 (4,329) 3316 Speech Handicapped (Part-Time Program) 551,390 488,852 (62,538) 3317 Homebound 2,229 3,262 1,033
3320 Part-Time Programs:3321 Emotionally Handicapped 95,347 96,837 1,490 3322 Educable Mentally Handicapped 56,671 52,558 (4,113) 3323 Learning Disabilities 1,576,613 1,580,945 4,332 3324 Hearing Handicapped 65,577 54,417 (11,160) 3325 Visually Handicapped 30,592 32,685 2,093 3326 Orthopedically Handicapped 23,623 22,496 (1,127) 3327 Vocational 1,615,278 1,597,679 (17,599)
3330 Miscellaneous EFA Programs:3331 Autism 231,165 255,369 24,204 3332 High Achieving Students 229,023 211,153 (17,870) 3334 Limited English Proficiency 77,134 73,805 (3,329) 3351 Academic Assistance 543,328 515,281 (28,047) 3352 Pupils in Poverty 1,484,903 1,258,945 (225,958) 3353 Dual Credit Enrollment 24,456 20,802 (3,654) 3392 NBC Excess EFA Formula - 22,973 22,973
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYGENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCEBUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2019
73
VarianceFinal Favorable
Budget Actual (Unfavorable)
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYGENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCEBUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2019
3800 State Revenue in Lieu of Taxes:3810 Reimbursement for Local Residential Property Tax Relief (Tier 1) 4,615,362 4,615,362 - 3820 Homestead Exemption (Tier 2) 914,016 914,016 - 3825 Reimbursement for Property Tax Relief (Tier 3) 10,876,801 10,861,792 (15,009) 3830 Merchant's Inventory Tax 213,652 213,652 - 3840 Manufacturers Depreciation Reimbursement 891,337 955,398 64,061 3890 Other State Property Tax Revenues (Includes Motor Carrier Vehicle Tax) 131,841 320,469 188,628
3900 Other State Revenue:3992 State Forest Commission Revenues - 166 166 3993 Library Allocation 622,125 622,125 - 3999 Revenue From Other State Sources - 7,884 7,884
Total State Sources 40,994,961 40,592,443 (402,518)
Total Revenues All Sources 84,411,605$ 84,214,919$ (196,686)$
Expenditures
100 Instruction
110 General Instruction
111 Kindergarten Programs:100 Salaries 1,984,955 1,947,132 37,823 200 Employee Benefits 973,625 931,668 41,957 300 Purchased Services 150,546 145,357 5,189 400 Supplies and Materials 29,510 22,809 6,701 600 Other Objects 5,278 5,273 5
112 Primary Programs:100 Salaries 5,525,121 5,414,379 110,742 200 Employee Benefits 2,354,188 2,341,693 12,495 300 Purchased Services 315,430 307,008 8,422 400 Supplies and Materials 50,874 43,941 6,933 600 Other Objects 9,950 9,946 4
113 Elementary Programs:100 Salaries 8,252,568 8,208,512 44,056 200 Employee Benefits 3,484,443 3,484,416 27 300 Purchased Services 407,053 397,126 9,927 400 Supplies and Materials 116,967 93,350 23,617 600 Other Objects 14,962 14,959 3
114 High School Programs:100 Salaries 5,657,573 5,657,568 5
140 Terminal Leave 18,147 18,139 8 200 Employee Benefits 2,222,742 2,188,275 34,467 300 Purchased Services 616,692 461,650 155,042 400 Supplies and Materials 127,405 118,386 9,019 600 Other Objects 10,564 10,562 2
115 Career and Technology Education Programs:100 Salaries 936,580 936,579 1 200 Employee Benefits 422,642 422,633 9 300 Purchased Services - Other Than Tuition 55,277 47,220 8,057
370 Tuition (Purchased Services) 1,124 1,124 - 400 Supplies and Materials 50,349 43,167 7,182 600 Other Objects 1,705 1,704 1
116 Career and Technology Education (Vocational) Programs - Middle School:100 Salaries 208,676 208,676 - 200 Employee Benefits 85,732 85,732 - 300 Purchased Services 7,863 7,861 2 600 Other Objects 419 418 1
117 Driver Education Program:100 Salaries 93,680 93,680 - 200 Employee Benefits 38,746 38,740 6 300 Purchased Services 10,154 10,153 1 600 Other Objects 169 168 1
74
VarianceFinal Favorable
Budget Actual (Unfavorable)
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYGENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCEBUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2019
120 Exceptional Programs
121 Educable Mentally Handicapped:100 Salaries 266,005 258,671 7,334 200 Employee Benefits 98,971 98,953 18 300 Purchased Services 11,866 11,865 1 400 Supplies and Materials 1,340 343 997 600 Other Objects 298 297 1
122 Trainable Mentally Handicapped:100 Salaries 107,461 107,458 3 200 Employee Benefits 54,171 54,162 9 300 Purchased Services 31,182 31,028 154 400 Supplies and Materials 820 193 627 600 Other Objects 744 743 1
123 Orthopedically Handicapped:100 Salaries 49,333 49,328 5 200 Employee Benefits 11,284 11,229 55 400 Supplies and Materials 3,582 1,338 2,244
124 Visually Handicapped:100 Salaries 106,700 106,696 4 200 Employee Benefits 40,756 40,504 252 300 Purchased Services 233 232 1 400 Supplies and Materials 748 239 509 600 Other Objects 116 112 4
125 Hearing Handicapped:100 Salaries 224,418 224,410 8 200 Employee Benefits 99,731 99,686 45 300 Purchased Services 1,171 1,064 107 400 Supplies and Materials 1,433 747 686 600 Other Objects 440 434 6
126 Speech Handicapped:100 Salaries 471,181 471,172 9 200 Employee Benefits 191,405 191,318 87 300 Purchased Services 89,016 89,016 - 600 Other Objects 702 713 (11)
127 Learning Disabilities:100 Salaries 2,264,823 2,264,384 439 200 Employee Benefits 961,428 961,086 342 300 Purchased Services 136,469 132,825 3,644 400 Supplies and Materials 34,749 28,914 5,835 600 Other Objects 4,899 4,895 4
128 Emotionally Handicapped:100 Salaries 215,942 215,954 (12) 200 Employee Benefits 86,453 86,436 17 300 Purchased Services 21,003 20,489 514 400 Supplies and Materials 2,799 2,101 698 600 Other Objects 550 549 1
130 Pre-School Programs
133 Pre-School Handicapped-Self-Contained (5 year olds):100 Salaries 59,416 59,414 2 200 Employee Benefits 17,054 17,047 7
137 Pre-School Handicapped-Self-Contained (3 & 4 year olds):100 Salaries 145,404 145,399 5 200 Employee Benefits 67,887 67,822 65 300 Purchased Services 15,690 15,686 4 600 Other Objects 592 591 1
139 Early Childhood Programs:300 Purchased Services 30,176 30,174 2
140 Special Programs
141 Gifted and Talented - Academic:100 Salaries 2,114,834 2,114,824 10 200 Employee Benefits 874,357 874,328 29 300 Purchased Services 40,722 40,420 302 400 Supplies and Materials 21,691 21,688 3 600 Other Objects 3,663 3,652 11
75
VarianceFinal Favorable
Budget Actual (Unfavorable)
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYGENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCEBUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2019
143 Advanced Placement:100 Salaries 275,098 275,096 2 200 Employee Benefits 136,726 120,031 16,695 300 Purchased Services 7,364 7,362 2 600 Other Objects 490 489 1
145 Homebound:100 Salaries 77,078 77,075 3 200 Employee Benefits 22,344 22,323 21 300 Purchased Services 15,665 15,663 2
147 CDEP:100 Salaries 196,880 196,879 1 200 Employee Benefits 97,870 97,853 17 300 Purchased Services 45,384 45,263 121 400 Supplies and Materials 1,010 1,009 1 600 Other Objects 505 504 1
160 Other Exceptional Programs
161 Autism:100 Salaries 529,680 529,800 (120) 200 Employee Benefits 175,794 175,771 23 300 Purchased Services 88,029 95,431 (7,402) 400 Supplies and Materials 5,376 3,706 1,670 600 Other Objects 626 619 7
162 Limited English Proficiency:100 Salaries 400,973 400,967 6 200 Employee Benefits 156,398 154,911 1,487 600 Other Objects 553 533 20
170 Summer School Program
174 Gifted and Talented Summer School:100 Salaries 17,200 17,200 - 200 Employee Benefits 5,019 5,016 3 300 Purchased Services 18,600 18,600 - 400 Supplies and Materials 3,424 3,423 1
175 Instructional Programs Beyond Regular School Day:100 Salaries - 186,306 (186,306) 200 Employee Benefits - 42,375 (42,375) 400 Supplies and Materials 275 275 -
180 Adult/Continuing Educational Programs
181 Adult Basic Education Programs:100 Salaries 76,615 76,614 1 200 Employee Benefits 29,583 29,582 1 300 Purchased Services 2,247 2,245 2 400 Supplies and Materials 825 825 - 600 Other Objects 134 133 1
182 Adult Secondary Education Programs:100 Salaries 85,593 85,593 - 200 Employee Benefits 35,693 35,691 2 600 Other Objects 135 135 -
190 Instructional Pupil Activity:100 Salaries (optional) 363,043 363,040 3 200 Employee Benefits (optional) 110,024 110,000 24 300 Purchased Services (optional) 2,386 2,385 1 400 Supplies and Materials (optional) 13,026 13,021 5 600 Other Objects 49 48 1
Total Instruction 46,225,131 45,894,425 330,706
76
VarianceFinal Favorable
Budget Actual (Unfavorable)
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYGENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCEBUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2019
200 Support Services
210 Pupil Services
211 Attendance and Social Work Services:100 Salaries 25,822 25,822 - 200 Employee Benefits 11,323 11,318 5 600 Other Objects 73 72 1
212 Guidance Services:100 Salaries 1,620,209 1,620,205 4 200 Employee Benefits 701,448 700,503 945 300 Purchased Services 9,475 9,278 197 400 Supplies and Materials 7,610 5,223 2,387 600 Other Objects 2,779 2,777 2
213 Health Services:100 Salaries 614,513 613,258 1,255 200 Employee Benefits 277,840 277,581 259 300 Purchased Services 34,076 33,922 154 400 Supplies and Materials 8,016 7,058 958 600 Other Objects 1,332 1,330 2
214 Psychological Services:100 Salaries 300,651 300,645 6 200 Employee Benefits 112,628 112,555 73 300 Purchased Services 41,312 41,011 301 400 Supplies and Materials 1,149 363 786 600 Other Objects 425 419 6
216 Vocational Placement Services:300 Purchased Services 5,800 5,626 174
217 Career Specialist Services:100 Salaries 47,578 47,577 1 200 Employee Benefits 19,620 19,615 5 600 Other Objects 153 152 1
220 Instructional Staff Services
221 Improvement of Instruction Curriculum Development:100 Salaries 427,052 426,948 104 200 Employee Benefits 148,004 147,807 197 300 Purchased Services 20,728 20,680 48 400 Supplies and Materials 13,214 13,190 24 600 Other Objects 17,993 18,891 (898)
222 Library and Media Services:100 Salaries 1,462,243 1,457,164 5,079 200 Employee Benefits 667,568 666,281 1,287 300 Purchased Services 26,280 25,717 563 400 Supplies and Materials 174,078 162,877 11,201 600 Other Objects 3,216 3,195 21
223 Supervision of Special Programs:100 Salaries 286,898 339,066 (52,168) 200 Employee Benefits 115,610 120,112 (4,502) 300 Purchased Services 43,213 43,185 28 400 Supplies and Materials 3,883 4,484 (601) 600 Other Objects 1,603 1,600 3
224 Improvement of Instruction Inservice and Staff Training:100 Salaries 36,821 36,817 4 200 Employee Benefits 110,694 22,750 87,944 300 Purchased Services 47,685 37,683 10,002 400 Supplies and Materials 12,805 12,804 1
230 General Administration Services
231 Board of Education:100 Salaries 108,064 108,063 1 200 Employee Benefits 85,179 70,441 14,738 300 Purchased Services 152,172 74,944 77,228
318 Audit Services 39,450 39,450 - 400 Supplies and Materials 2,500 2,425 75 600 Other Objects 54,465 54,464 1
232 Office of the Superintendent:77
VarianceFinal Favorable
Budget Actual (Unfavorable)
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYGENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCEBUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2019
100 Salaries 444,830 444,826 4 200 Employee Benefits 166,894 166,887 7 300 Purchased Services 51,409 51,394 15 400 Supplies and Materials 28,334 28,253 81 600 Other Objects 10,872 10,737 135
233 School Administration:100 Salaries 5,411,774 5,411,128 646
140 Terminal Leave 8,985 8,984 1 200 Employee Benefits 2,234,657 2,234,591 66 300 Purchased Services 167,831 143,172 24,659 400 Supplies and Materials 41,697 29,286 12,411 600 Other Objects 16,316 16,301 15
250 Finance and Operations Services
251 Student Transportation (Federal/District Mandated):100 Salaries 763 762 1 200 Employee Benefits 256 253 3 300 Purchased Services 1,987 1,986 1
252 Fiscal Services:100 Salaries 1,111,574 1,111,314 260
140 Terminal Leave 3,180 3,179 1 200 Employee Benefits 435,870 435,830 40 300 Purchased Services 227,979 223,667 4,312 400 Supplies and Materials 33,594 34,778 (1,184) 600 Other Objects 5,434 5,433 1
254 Operation and Maintenance of Plant:100 Salaries 3,573,947 3,581,084 (7,137)
140 Terminal Leave 32,264 31,014 1,250 200 Employee Benefits 1,671,781 1,672,605 (824) 300 Purchased Services 1,418,070 1,403,730 14,340
321 Public Utilities (Excludes gas, oil, elec. & other heating fuels) 241,397 241,385 12 400 Supplies and Materials 602,780 608,019 (5,239)
470 Energy (Include gas, oil, elec. & other heating fuels) 2,626,864 2,616,797 10,067 600 Other Objects 11,014 11,001 13
255 Student Transportation (State Mandated):100 Salaries 1,621,415 1,621,410 5 200 Employee Benefits 755,565 755,550 15 300 Purchased Services 71,653 71,645 8 400 Supplies and Materials 8,585 8,582 3 600 Other Objects 4,700 4,698 2
256 Food Service:100 Salaries 50 50 - 200 Employee Benefits 633,574 633,549 25 600 Other Objects 8,544 8,538 6
258 Security:100 Salaries 638,956 638,937 19 200 Employee Benefits 175,452 175,378 74 300 Purchased Services 773,842 772,485 1,357 400 Supplies and Materials 43,170 43,646 (476) 600 Other Objects 885 882 3
260 Central Support Services
262 Planning, Research, Development & Evaluation:100 Salaries 160,198 160,198 - 200 Employee Benefits 59,364 59,364 - 300 Purchased Services 26,722 26,718 4 400 Supplies and Materials 915 914 1 600 Other Objects 268 267 1
263 Information Services:100 Salaries 105,669 105,669 - 200 Employee Benefits 38,943 38,940 3 300 Purchased Services 64,395 64,396 (1) 400 Supplies and Materials 15,483 15,483 - 600 Other Objects 217 216 1
78
VarianceFinal Favorable
Budget Actual (Unfavorable)
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYGENERAL FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCEBUDGET AND ACTUAL
FOR THE YEAR ENDED JUNE 30, 2019
264 Staff Services:100 Salaries 602,421 602,420 1 200 Employee Benefits 233,649 233,644 5 300 Purchased Services 150,885 150,877 8 400 Supplies and Materials 7,780 7,780 - 600 Other Objects 1,580 1,578 2
266 Technology and Data Processing Services:100 Salaries 830,804 830,799 5
140 Terminal Leave 16,479 16,478 1 200 Employee Benefits 326,029 326,008 21 300 Purchased Services 1,033,897 1,016,857 17,040 400 Supplies and Materials 13,981 14,164 (183) 600 Other Objects 1,318 1,316 2
270 Support Services Pupil Activity
271 Pupil Services Activities:100 Salaries (optional) 781,578 788,795 (7,217) 200 Employee Benefits (optional) 231,188 233,476 (2,288) 300 Purchased Services (optional) 375,426 390,415 (14,989) 400 Supplies and Materials (optional) 146,658 146,653 5 600 Other Objects (optional) 65 63 2
Total Support Services 38,449,906 38,244,582 205,324
300 Community Services
390 Other Community Services:100 Salaries 4,241 66,272 (62,031) 200 Employee Benefits 1,317 17,683 (16,366) 300 Purchased Services - 34,288 (34,288)
Total Community Services 5,558 118,243 (112,685)
400 Other Charges:
410 Intergovernmental Expenditures
416 LEA Payments to Public Charter Schools720 Transits 2,506,596 2,506,596 -
417 Payments to Nonprofit Entities (other than for First Steps)720 Transits 15,000 15,000 -
Total Intergovernmental Expenditures 2,521,596 2,521,596 -
Total Expenditures 87,202,191$ 86,778,846$ 423,345$
Other Financing Sources (Uses)
Interfund Transfers, From (To) Other Funds:
5230 Transfer from Special Revenue EIA Fund 2,778,566 2,602,612 (175,954) 5280 Transfer from Other Funds Indirect Costs 443,426 601,895 158,469 421-710 Transfer to Special Revenue Fund (431,406) (431,406) -
Total Other Financing Sources (Uses) 2,790,586 2,773,101 (17,485)
Excess/(Deficiency) of Revenues over Expenditures -$ 209,174$ 209,174$
Fund Balance, Beginning of Year 10,648,976
Fund Balance, End of Year 10,858,150$
79
SPECIAL REVENUE FUNDS
The Special Revenue Funds account for the proceeds of specific revenue sources (other than expendable trusts or major capital projects) that are legally restricted to expenditures for specified purposes. The School District has the following Special Revenue Funds. 1. The Special Projects Fund consists of multiple special revenue subfunds used to account for all federal, state
and local projects and grants except for those subject to EIA. 2. The Education Improvement Act (EIA) Fund was passed in 1984 by the South Carolina State Legislature to
upgrade the quality of education in South Carolina. The fund accounts for the proceeds of the additional one percent Sales and Use Tax which is restricted to expenditures for the Education Improvement Act standards. Because of the categorical nature of the funding, the state requires that revenues and expenditures be accounted for in a separate fund. Accordingly, the EIA Fund is reported as a Special Revenue Fund.
The following schedules for the Special Revenue Funds have been prepared in the format mandated by the South Carolina Department of Education. The account numbers shown on the schedules are also mandated by the South Carolina Department of Education.
Assets
Due From State Government 93,500$ Due From Federal Government 1,760,974 Other Receivables 71,837
Total Assets 1,926,311$
Liabilities & Fund Balances
Liabilities
Accounts Payable 83,387 Due To Other Funds 1,707,876 Due To State Government 329 Unearned Revenue 134,210 Other Liabilities 509
Total Liabilities 1,926,311
Fund Balances
Restricted -
Total Fund Balances -
Total Liabilities & Fund Balances 1,926,311$
JUNE 30, 2019BALANCE SHEET
SPECIAL REVENUE FUND - SPECIAL PROJECTSTHE SCHOOL DISTRICT OF GEORGETOWN COUNTY
80
OTH
ERD
ESIG
NAT
EDO
THER
PRES
CH
OO
LR
ESTR
ICTE
DSP
ECIA
LTI
TLE
IID
EAH
AND
ICAP
PED
CAT
EAD
ULT
STAT
ER
EVEN
UE
(BA
Proj
ects
)(C
A Pr
ojec
ts)
(CG
Pro
ject
s)(V
A Pr
ojec
ts)
EDU
CAT
ION
GR
ANTS
PRO
GR
AMS
(201
/202
)(2
03/2
04)
(205
/206
)(2
07/2
08)
(EA
Proj
ects
)(9
00s)
(200
s/80
0s)
TOTA
L
Rev
enue
s
1000
Rev
enue
from
Loc
al S
ourc
es
1900
Oth
er R
even
ue fr
om L
ocal
Sou
rces
:19
10 R
enta
ls-
$
-$
-
$
-
$
-$
-
$
17,4
21$
17,4
21$
19
20 C
ontri
butio
ns &
Don
atio
ns P
rivat
e So
urce
s-
-
-
-
-
-
194,
568
19
4,56
8
19
30 M
edic
aid
-
-
-
-
-
-
2,
844
2,84
4
1931
The
rapy
Adj
ustm
ent -
Med
icai
d-
-
-
-
-
-
952,
979
95
2,97
9
19
90 M
isce
llane
ous
Loca
l Rev
enue
:19
99 R
even
ue fr
om O
ther
Loc
al S
ourc
es-
-
-
-
-
-
81,1
94
81,1
94
Tota
l Loc
al S
ourc
es-
-
-
-
-
-
1,24
9,00
6
1,
249,
006
2000
Inte
rgov
ernm
enta
l Rev
enue
:
2200
Pay
men
ts fr
om P
ublic
Cha
rter S
choo
l-
5,14
9
-
-
-
-
11,0
45
16,1
94
Tota
l Int
ergo
vern
men
tal R
even
ues
-
5,
149
-
-
-
-
11
,045
16
,194
3000
Rev
enue
from
Sta
te S
ourc
es
3100
Res
trict
ed S
tate
Fun
ding
:31
13 1
2-M
onth
Agr
icul
ture
Pro
gram
-
-
-
-
-
-
4,
294
4,29
4
3118
EED
A C
aree
r Spe
cial
ists
-
-
-
-
-
518,
683
-
51
8,68
3
31
27 S
tude
nt H
ealth
and
Fitn
ess
- PE
Teac
hers
-
-
-
-
-
64,0
71
-
64
,071
3130
Spe
cial
Pro
gram
s:31
35 R
eadi
ng C
oach
es-
-
-
-
-
64
1,04
6
-
641,
046
3136
Stu
dent
Hea
lth a
nd F
itnes
s - N
urse
s-
-
-
-
-
32
0,06
3
-
320,
063
3156
Adu
lt Ed
ucat
ion
-
-
-
-
-
28,5
08
-
28
,508
3193
Edu
catio
n Li
cens
e Pl
ates
-
-
-
-
-
2,30
6
-
2,30
6
3199
Oth
er R
estri
cted
Sta
te G
rant
s-
-
-
-
-
-
588
58
8
3600
Edu
catio
n Lo
ttery
3670
Sch
ool S
afet
y - F
acilit
y &
Infra
stru
ctur
e Sa
fety
Upg
rade
s-
-
-
-
-
60
,000
-
60,0
00
3900
Oth
er S
tate
Rev
enue
:39
99 R
even
ue F
rom
Oth
er S
tate
Sou
rces
-
-
-
-
-
-
7,
721
7,72
1
Tota
l Sta
te S
ourc
es-
-
-
-
-
1,
634,
677
12,6
03
1,64
7,28
0
4000
Rev
enue
from
Fed
eral
Sou
rces
4200
Occ
upat
iona
l Edu
catio
n:42
10 P
erki
ns A
id, T
itle
I - C
aree
r and
Tec
hnic
al E
duca
tion
-
-
-
163,
992
-
-
-
16
3,99
2
43
00 E
lem
enta
ry a
nd S
econ
dary
Edu
catio
n Ac
t of 1
965
(ESE
A):
4310
Titl
e I,
Basi
c St
ate
Gra
nt P
rogr
ams
(Car
ryov
er P
rovi
sion
)2,
965,
199
-
-
-
-
-
217,
289
3,
182,
488
43
14 S
choo
l Im
prov
emen
t Gra
nt-
-
-
-
-
-
191,
016
19
1,01
6
43
41 L
angu
age
Inst
ruct
ion
for L
imite
d En
glis
h Pr
ofic
ient
and
Imm
igra
nt S
tude
nts,
Titl
e III
-
-
-
-
-
-
35
,523
35
,523
4351
Impr
ovin
g Te
ache
r Qua
lity
(Car
ryov
er P
rovi
sion
)-
-
-
-
-
-
383,
608
38
3,60
8
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYSP
ECIA
L R
EVEN
UE
- SPE
CIA
L PR
OJE
CTS
CO
MB
ININ
G S
CH
EDU
LE O
F R
EVEN
UES
, EXP
END
ITU
RES
AN
D C
HAN
GES
IN F
UN
D B
ALAN
CE
FOR
TH
E YE
AR E
ND
ED J
UN
E 30
, 201
9
81
OTH
ERD
ESIG
NAT
EDO
THER
PRES
CH
OO
LR
ESTR
ICTE
DSP
ECIA
LTI
TLE
IID
EAH
AND
ICAP
PED
CAT
EAD
ULT
STAT
ER
EVEN
UE
(BA
Proj
ects
)(C
A Pr
ojec
ts)
(CG
Pro
ject
s)(V
A Pr
ojec
ts)
EDU
CAT
ION
GR
ANTS
PRO
GR
AMS
(201
/202
)(2
03/2
04)
(205
/206
)(2
07/2
08)
(EA
Proj
ects
)(9
00s)
(200
s/80
0s)
TOTA
L
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYSP
ECIA
L R
EVEN
UE
- SPE
CIA
L PR
OJE
CTS
CO
MB
ININ
G S
CH
EDU
LE O
F R
EVEN
UES
, EXP
END
ITU
RES
AN
D C
HAN
GES
IN F
UN
D B
ALAN
CE
FOR
TH
E YE
AR E
ND
ED J
UN
E 30
, 201
9
4400
Adu
lt Ed
ucat
ion:
4410
Bas
ic, A
dult
Educ
atio
n-
-
-
-
122,
277
-
-
122,
277
4500
Pro
gram
s fo
r Chi
ldre
n w
ith D
isab
ilitie
s45
10 In
divi
dual
s W
ith D
isab
ilitie
s Ed
ucat
ion
Act (
IDEA
) (C
arry
over
Pro
visi
on)
-
2,
407,
021
-
-
-
-
5,
586
2,41
2,60
7
4520
Pre
scho
ol G
rant
s (C
arry
over
Pro
visi
on)
-
-
64,0
51
-
-
-
-
64
,051
4560
IDEA
SSI
P-
-
-
-
-
-
186,
457
18
6,45
7
49
00 O
ther
Fed
eral
Sou
rces
:49
90 O
ther
Fed
eral
Rev
enue
:49
97 T
itle
IV -
SSAE
-
-
-
-
-
-
93
,344
93
,344
4999
Rev
enue
from
Oth
er F
eder
al S
ourc
es-
-
-
-
-
-
218,
519
21
8,51
9
Tota
l Fed
eral
Sou
rces
2,96
5,19
9
2,
407,
021
64,0
51
163,
992
12
2,27
7
-
1,
331,
342
7,05
3,88
2
Tota
l Rev
enue
s Al
l Sou
rces
2,96
5,19
9$
2,
412,
170
$
64,0
51$
163,
992
$
12
2,27
7$
1,63
4,67
7$
2,
603,
996
$
9,96
6,36
2$
Expe
nditu
res
100
Inst
ruct
ion
110
Gen
eral
Inst
ruct
ion
111
Kind
erga
rten
Prog
ram
s:10
0 Sa
larie
s-
-
-
-
-
-
35,4
23
35,4
23
20
0 Em
ploy
ee B
enef
its-
-
-
-
-
-
19,0
30
19,0
30
30
0 Pu
rcha
sed
Serv
ices
12,2
83
-
-
-
-
-
28
,455
40
,738
400
Supp
lies
and
Mat
eria
ls11
,392
-
-
-
-
-
347
11
,739
500
Cap
ital O
utla
y4,
723
-
-
-
-
-
-
4,72
3
600
Oth
er O
bjec
ts-
-
-
-
-
-
91
91
112
Prim
ary
Prog
ram
s:10
0 Sa
larie
s61
0,83
1
-
-
-
-
16
,728
159,
923
78
7,48
2
20
0 Em
ploy
ee B
enef
its26
2,25
1
-
-
-
-
4,
524
76
,863
34
3,63
8
30
0 Pu
rcha
sed
Serv
ices
40,4
29
-
-
-
-
-
66
,383
10
6,81
2
40
0 Su
pplie
s an
d M
ater
ials
52,6
57
-
-
-
-
-
51
,618
10
4,27
5
50
0 C
apita
l Out
lay
40,7
21
-
-
-
-
-
25
,188
65
,909
600
Oth
er O
bjec
ts1,
410
-
-
-
-
-
379
1,
789
11
3 El
emen
tary
Pro
gram
s:10
0 Sa
larie
s38
5,73
1
-
-
-
-
25
,860
-
411,
591
200
Empl
oyee
Ben
efits
159,
631
-
-
-
-
13,7
93
-
17
3,42
4
30
0 Pu
rcha
sed
Serv
ices
69,8
31
-
-
-
-
491
34,1
05
104,
427
400
Supp
lies
and
Mat
eria
ls41
,139
-
-
-
-
-
66,0
59
107,
198
500
Cap
ital O
utla
y4,
723
-
-
-
-
2,
306
26
,278
33
,307
600
Oth
er O
bjec
ts86
4
-
-
-
-
-
-
864
114
Hig
h Sc
hool
Pro
gram
s:10
0 Sa
larie
s81
,131
-
-
-
-
-
139,
819
22
0,95
0
20
0 Em
ploy
ee B
enef
its33
,595
-
-
-
-
-
-
33,5
95
30
0 Pu
rcha
sed
Serv
ices
22,2
72
-
-
-
-
-
11
,770
34
,042
400
Supp
lies
and
Mat
eria
ls23
,568
-
-
-
-
-
23,5
77
47,1
45
50
0 C
apita
l Out
lay
-
-
-
-
-
-
8,
315
8,31
5
600
Oth
er O
bjec
ts18
2
-
-
-
-
-
-
182
82
OTH
ERD
ESIG
NAT
EDO
THER
PRES
CH
OO
LR
ESTR
ICTE
DSP
ECIA
LTI
TLE
IID
EAH
AND
ICAP
PED
CAT
EAD
ULT
STAT
ER
EVEN
UE
(BA
Proj
ects
)(C
A Pr
ojec
ts)
(CG
Pro
ject
s)(V
A Pr
ojec
ts)
EDU
CAT
ION
GR
ANTS
PRO
GR
AMS
(201
/202
)(2
03/2
04)
(205
/206
)(2
07/2
08)
(EA
Proj
ects
)(9
00s)
(200
s/80
0s)
TOTA
L
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYSP
ECIA
L R
EVEN
UE
- SPE
CIA
L PR
OJE
CTS
CO
MB
ININ
G S
CH
EDU
LE O
F R
EVEN
UES
, EXP
END
ITU
RES
AN
D C
HAN
GES
IN F
UN
D B
ALAN
CE
FOR
TH
E YE
AR E
ND
ED J
UN
E 30
, 201
9
115
Car
eer a
nd T
echn
olog
y Ed
ucat
ion
Prog
ram
s:10
0 Sa
larie
s-
-
-
52
,713
-
-
4,29
4
57
,007
200
Empl
oyee
Ben
efits
-
-
-
37,0
25
-
-
-
37
,025
120
Exce
ptio
nal P
rogr
ams
121
Educ
able
Men
tally
Han
dica
pped
:10
0 Sa
larie
s-
17,7
54
-
-
-
-
16,5
19
34,2
73
20
0 Em
ploy
ee B
enef
its-
9,99
9
-
-
-
-
5,34
0
15
,339
300
Purc
hase
d Se
rvic
es-
109
-
-
-
-
-
109
600
Oth
er o
bjec
ts-
-
-
-
-
-
41
41
122
Trai
nabl
e M
enta
lly H
andi
capp
ed:
100
Sala
ries
-
85
,209
-
-
-
-
58
8
85,7
97
20
0 Em
ploy
ee B
enef
its-
39,5
28
-
-
-
-
1,16
2
40
,690
300
Purc
hase
d Se
rvic
es-
3,92
0
-
-
-
-
-
3,92
0
600
Oth
er O
bjec
ts-
-
-
-
-
-
53
53
123
Orth
oped
ical
ly H
andi
capp
ed:
100
Sala
ries
-
8,
074
-
-
-
-
1,
905
9,97
9
200
Empl
oyee
Ben
efits
-
4,
684
-
-
-
-
71
9
5,40
3
600
Oth
er O
bjec
ts-
-
-
-
-
-
9
9
12
4 Vi
sual
ly H
andi
capp
ed:
100
Sala
ries
-
5,
561
-
-
-
-
80
5,64
1
200
Empl
oyee
Ben
efits
-
2,
666
-
-
-
-
34
2,70
0
300
Purc
hase
d Se
rvic
es-
3,24
0
-
-
-
-
-
3,24
0
600
Oth
er O
bjec
ts-
-
-
-
-
-
8
8
12
5 H
earin
g H
andi
capp
ed:
100
Sala
ries
-
43
,342
-
-
-
-
2,
052
45,3
94
20
0 Em
ploy
ee B
enef
its-
25,4
20
-
-
-
-
768
26
,188
300
Purc
hase
d Se
rvic
es-
28,7
53
-
-
-
-
-
28,7
53
40
0 Su
pplie
s an
d M
ater
ials
-
12
8
-
-
-
-
-
12
8
60
0 O
ther
Obj
ects
-
-
-
-
-
-
16
16
12
6 Sp
eech
Han
dica
pped
:10
0 Sa
larie
s-
19,8
60
-
-
-
-
18,7
14
38,5
74
20
0 Em
ploy
ee B
enef
its-
6,46
3
-
-
-
-
6,27
3
12
,736
300
Purc
hase
d Se
rvic
es-
19,6
27
-
-
-
-
-
19,6
27
40
0 Su
pplie
s an
d M
ater
ials
-
6,
898
-
-
-
-
-
6,
898
60
0 O
ther
Obj
ects
-
-
-
-
-
-
14
14
12
7 Le
arni
ng D
isab
ilitie
s:10
0 Sa
larie
s-
380,
566
-
-
-
-
78,6
44
459,
210
200
Empl
oyee
Ben
efits
-
18
2,77
5
-
-
-
-
52
,101
23
4,87
6
30
0 Pu
rcha
sed
Serv
ices
-
15
,207
-
-
-
-
11
8
15,3
25
40
0 Su
pplie
s an
d M
ater
ials
-
51
8
-
-
-
-
80
,131
80
,649
600
Oth
er O
bjec
ts-
-
-
-
-
-
262
26
2
12
8 Em
otio
nally
Han
dica
pped
:10
0 Sa
larie
s-
2,08
7
-
-
-
-
-
2,08
7
200
Empl
oyee
Ben
efits
-
60
8
-
-
-
-
-
60
8
30
0 Pu
rcha
sed
Serv
ices
-
10
9
-
-
-
-
-
10
9
83
OTH
ERD
ESIG
NAT
EDO
THER
PRES
CH
OO
LR
ESTR
ICTE
DSP
ECIA
LTI
TLE
IID
EAH
AND
ICAP
PED
CAT
EAD
ULT
STAT
ER
EVEN
UE
(BA
Proj
ects
)(C
A Pr
ojec
ts)
(CG
Pro
ject
s)(V
A Pr
ojec
ts)
EDU
CAT
ION
GR
ANTS
PRO
GR
AMS
(201
/202
)(2
03/2
04)
(205
/206
)(2
07/2
08)
(EA
Proj
ects
)(9
00s)
(200
s/80
0s)
TOTA
L
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYSP
ECIA
L R
EVEN
UE
- SPE
CIA
L PR
OJE
CTS
CO
MB
ININ
G S
CH
EDU
LE O
F R
EVEN
UES
, EXP
END
ITU
RES
AN
D C
HAN
GES
IN F
UN
D B
ALAN
CE
FOR
TH
E YE
AR E
ND
ED J
UN
E 30
, 201
9
130
Pre-
Scho
ol P
rgra
ms
133
Pre-
Scho
ol H
andi
capp
ed-S
elf-C
onta
ined
(5 y
ear o
lds)
:10
0 Sa
larie
s-
13,2
66
-
-
-
-
2,33
8
15
,604
200
Empl
oyee
Ben
efits
-
8,
344
-
-
-
-
2,
287
10,6
31
60
0 O
ther
Obj
ects
-
-
-
-
-
-
12
12
13
7 Pr
e-Sc
hool
Han
dica
pped
-Sel
f-Con
tain
ed (3
& 4
yea
r old
s):
100
Sala
ries
-
23
,644
13,3
43
-
-
-
34
7
37,3
34
20
0 Em
ploy
ee B
enef
its-
11,8
79
3,
991
-
-
-
10
1
15,9
71
30
0 Pu
rcha
sed
Serv
ices
-
3,
355
4,52
6
-
-
-
-
7,88
1
400
Supp
lies
and
Mat
eria
ls-
-
-
-
-
-
439
43
9
140
Spec
ial P
rogr
ams
149
Oth
er S
peci
al P
rogr
ams:
300
Purc
hase
d Se
rvic
es-
16,1
33
-
-
-
-
-
16,1
33
160
Oth
er E
xcep
tiona
l Pro
gram
s
161
Autis
m:
100
Sala
ries
-
16
3,68
6
-
-
-
-
66
,759
23
0,44
5
20
0 Em
ploy
ee B
enef
its-
66,2
33
-
-
-
-
50,3
07
116,
540
300
Purc
hase
d Se
rvic
es-
12,4
66
-
-
-
-
-
12,4
66
40
0 Su
pplie
s an
d M
ater
ials
-
12
-
-
-
-
32
8
340
600
Oth
er O
bjec
ts-
-
-
-
-
-
486
48
6
16
2 Li
mite
d En
glis
h Pr
ofic
ienc
y:30
0 Pu
rcha
sed
Serv
ices
-
-
-
-
-
-
4,
969
4,96
9
400
Supp
lies
and
Mat
eria
ls-
-
-
-
-
-
721
72
1
170
Sum
mer
Sch
ool P
rogr
am
174
Gift
ed a
nd T
alen
ted
Sum
mer
Sch
ool:
400
Supp
lies
and
Mat
eria
ls-
-
-
-
-
-
5,56
0
5,
560
17
5 In
stru
ctio
nal P
rogr
ams
Beyo
nd R
egul
ar S
choo
l Day
:10
0 Sa
larie
s14
1,91
9
-
-
-
-
-
41,7
03
183,
622
200
Empl
oyee
Ben
efits
41,5
47
-
-
-
-
-
11
,887
53
,434
180
Adul
t/Con
tinui
ng E
duca
tiona
l Pro
gram
s
181
Adul
t Bas
ic E
duca
tion
Prog
ram
s:10
0 Sa
larie
s-
-
-
-
29,3
49
16
,698
-
46,0
47
20
0 Em
ploy
ee B
enef
its-
-
-
-
9,18
5
7,
304
-
16
,489
300
Purc
hase
d Se
rvic
es-
-
-
-
15,6
00
-
-
15,6
00
40
0 Su
pplie
s an
d M
ater
ials
-
-
-
-
4,
055
182
-
4,23
7
500
Cap
ital O
utla
y-
-
-
-
10,2
65
-
-
10,2
65
18
2 Ad
ult S
econ
dary
Edu
catio
n Pr
ogra
ms:
100
Sala
ries
-
-
-
-
15
,821
3,22
5
-
19,0
46
20
0 Em
ploy
ee B
enef
its-
-
-
-
5,73
1
91
7
-
6,
648
40
0 Su
pplie
s an
d M
ater
ials
-
-
-
-
3,
913
182
-
4,09
5
500
Cap
ital O
utla
y-
-
-
-
14,0
28
-
-
14,0
28
84
OTH
ERD
ESIG
NAT
EDO
THER
PRES
CH
OO
LR
ESTR
ICTE
DSP
ECIA
LTI
TLE
IID
EAH
AND
ICAP
PED
CAT
EAD
ULT
STAT
ER
EVEN
UE
(BA
Proj
ects
)(C
A Pr
ojec
ts)
(CG
Pro
ject
s)(V
A Pr
ojec
ts)
EDU
CAT
ION
GR
ANTS
PRO
GR
AMS
(201
/202
)(2
03/2
04)
(205
/206
)(2
07/2
08)
(EA
Proj
ects
)(9
00s)
(200
s/80
0s)
TOTA
L
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYSP
ECIA
L R
EVEN
UE
- SPE
CIA
L PR
OJE
CTS
CO
MB
ININ
G S
CH
EDU
LE O
F R
EVEN
UES
, EXP
END
ITU
RES
AN
D C
HAN
GES
IN F
UN
D B
ALAN
CE
FOR
TH
E YE
AR E
ND
ED J
UN
E 30
, 201
9
183
Adul
t Eng
lish
Lite
racy
(ESL
):10
0 Sa
larie
s-
-
-
-
3,84
8
-
-
3,84
8
200
Empl
oyee
Ben
efits
-
-
-
-
1,
116
-
-
1,
116
30
0 Pu
rcha
sed
Serv
ices
-
-
-
-
3,
700
-
-
3,
700
18
4 Po
st S
econ
dary
Edu
catio
n Pr
ogra
ms:
100
Sala
ries
-
-
-
-
-
-
13
,924
13
,924
200
Empl
oyee
Ben
efits
-
-
-
-
-
-
4,
038
4,03
8
300
Purc
hase
d Se
rvic
es-
-
-
-
-
-
7,02
9
7,
029
18
8 Pa
rent
ing/
Fam
ily L
itera
cy:
100
Sala
ries
847
-
-
-
-
-
-
84
7
20
0 Em
ploy
ee B
enef
its25
4
-
-
-
-
-
-
254
300
Purc
hase
d Se
rvic
es17
,550
-
-
-
-
-
-
17,5
50
40
0 Su
pplie
s an
d M
ater
ials
31,2
07
-
-
-
-
-
3,
171
34,3
78
Tota
l Ins
truc
tion
2,09
2,68
8
1,
232,
123
21,8
60
89,7
38
11
6,61
1
92,2
10
1,
259,
874
4,90
5,10
4
200
Supp
ort S
ervi
ces
210
Pupi
l Ser
vice
s
211
Atte
ndan
ce a
nd S
ocia
l Wor
k Se
rvic
es:
100
Sala
ries
-
-
-
-
-
-
13
0,09
5
130,
095
200
Empl
oyee
Ben
efits
-
-
-
-
-
-
48
,069
48
,069
600
Oth
er O
bjec
ts-
-
-
-
-
-
227
22
7
21
3 H
ealth
Ser
vice
s:10
0 Sa
larie
s-
68,0
63
-
-
-
18
8,13
2
112,
103
36
8,29
8
20
0 Em
ploy
ee B
enef
its-
27,9
29
-
-
-
10
2,91
6
48,5
32
179,
377
300
Purc
hase
d Se
rvic
es-
34,5
11
-
-
-
-
44,9
28
79,4
39
50
0 C
apita
l Out
lay
-
-
-
-
-
-
1,
539
1,53
9
600
Oth
er O
bjec
ts-
-
-
-
-
-
146
14
6
21
4 Ps
ycho
logi
cal S
ervi
ces:
100
Sala
ries
-
29
1,03
5
30,2
04
-
-
-
75
,113
39
6,35
2
20
0 Em
ploy
ee B
enef
its-
121,
269
8,
896
-
-
-
23
,996
15
4,16
1
30
0 Pu
rcha
sed
Serv
ices
-
29
,085
-
-
-
-
-
29
,085
400
Supp
lies
and
Mat
eria
ls-
18,0
50
-
-
-
-
-
18,0
50
60
0 O
ther
Obj
ects
-
-
-
-
-
-
91
91
21
5 Ex
cept
iona
l Pro
gram
Ser
vice
s:10
0 Sa
larie
s-
32,7
16
-
-
-
-
-
32,7
16
20
0 Em
ploy
ee B
enef
its-
14,4
82
-
-
-
-
-
14,4
82
30
0 Pu
rcha
sed
Serv
ices
-
82
6
-
-
-
-
-
82
6
21
6 Vo
catio
nal P
lace
men
t Ser
vice
s:30
0 Pu
rcha
sed
Serv
ices
-
-
-
8,43
5
-
-
-
8,
435
21
7 C
aree
r Spe
cial
ist S
ervi
ces:
100
Sala
ries
-
-
-
-
-
359,
958
-
35
9,95
8
20
0 Em
ploy
ee B
enef
its-
-
-
-
-
14
9,56
6
-
149,
566
85
OTH
ERD
ESIG
NAT
EDO
THER
PRES
CH
OO
LR
ESTR
ICTE
DSP
ECIA
LTI
TLE
IID
EAH
AND
ICAP
PED
CAT
EAD
ULT
STAT
ER
EVEN
UE
(BA
Proj
ects
)(C
A Pr
ojec
ts)
(CG
Pro
ject
s)(V
A Pr
ojec
ts)
EDU
CAT
ION
GR
ANTS
PRO
GR
AMS
(201
/202
)(2
03/2
04)
(205
/206
)(2
07/2
08)
(EA
Proj
ects
)(9
00s)
(200
s/80
0s)
TOTA
L
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYSP
ECIA
L R
EVEN
UE
- SPE
CIA
L PR
OJE
CTS
CO
MB
ININ
G S
CH
EDU
LE O
F R
EVEN
UES
, EXP
END
ITU
RES
AN
D C
HAN
GES
IN F
UN
D B
ALAN
CE
FOR
TH
E YE
AR E
ND
ED J
UN
E 30
, 201
9
220
Inst
ruct
iona
l Sta
ff Se
rvic
es
221
Impr
ovem
ent o
f Ins
truct
ion
Cur
ricul
um D
evel
opm
ent:
100
Sala
ries
377,
972
-
-
-
-
436,
516
27
,076
84
1,56
4
20
0 Em
ploy
ee B
enef
its14
4,58
0
-
-
-
-
17
4,00
4
9,15
5
32
7,73
9
40
0 Su
pplie
s an
d M
ater
ials
-
12
2
-
-
-
-
2
124
600
Oth
er O
bjec
ts40
2
-
-
-
-
-
-
402
222
Libr
ary
and
Med
ia S
ervi
ces:
400
Supp
lies
and
Mat
eria
ls-
-
-
-
-
-
239
23
9
22
3 Su
perv
isio
n of
Spe
cial
Pro
gram
s:10
0 Sa
larie
s-
237,
049
-
22
,625
-
-
33,7
59
293,
433
200
Empl
oyee
Ben
efits
-
96
,694
-
7,68
3
-
-
14
,421
11
8,79
8
30
0 Pu
rcha
sed
Serv
ices
-
51
,066
-
-
-
-
1,
964
53,0
30
40
0 Su
pplie
s an
d M
ater
ials
-
1,
027
-
-
-
-
3,
823
4,85
0
600
Oth
er O
bjec
ts-
-
-
-
-
-
91
91
224
Impr
ovem
ent o
f Ins
truct
ion
Inse
rvic
e an
d St
aff T
rain
ing:
100
Sala
ries
1,14
9
-
-
-
-
-
2,
000
3,14
9
200
Empl
oyee
Ben
efits
351
-
-
-
-
-
14
,270
14
,621
300
Purc
hase
d Se
rvic
es18
4,69
0
3,11
8
-
-
-
-
277,
255
46
5,06
3
40
0 Su
pplie
s an
d M
ater
ials
21,1
20
-
-
-
-
-
5,
618
26,7
38
230
Gen
eral
Adm
inis
tratio
n Se
rvic
es
233
Scho
ol A
dmin
istra
tion:
100
Sala
ries
-
-
-
-
-
-
1,
964
1,96
4
200
Empl
oyee
Ben
efits
-
-
-
-
-
-
46
9
469
400
Supp
lies
and
Mat
eria
ls-
-
-
-
-
-
2,53
4
2,
534
250
Fina
nce
and
Ope
ratio
ns S
ervi
ces
251
Stud
ent T
rans
porta
tion
(Fed
eral
/Dis
trict
Man
date
d):
100
Sala
ries
-
-
-
-
-
-
10
,092
10
,092
200
Empl
oyee
Ben
efits
-
-
-
-
-
-
3,
296
3,29
6
300
Purc
hase
d Se
rvic
es-
-
-
-
-
-
5,84
4
5,
844
25
2 Fi
scal
Ser
vice
s:10
0 Sa
larie
s-
-
-
-
-
-
845
84
5
20
0 Em
ploy
ee B
enef
its-
-
-
-
-
-
261
26
1
25
3 Fa
cilit
ies
Acqu
isiti
on a
nd C
onst
ruct
ion:
500
Cap
ital O
utla
y52
0 C
onst
ruct
ion
Serv
ices
-
-
-
-
-
-
6,
019
6,01
9
530
Impr
ovem
ents
Oth
er T
han
Build
ings
-
-
-
-
-
-
35
,000
35
,000
254
Ope
ratio
n an
d M
aint
enan
ce o
f Pla
nt:
100
Sala
ries
-
-
-
-
-
-
24
,270
24
,270
200
Empl
oyee
Ben
efits
-
-
-
-
-
-
7,
948
7,94
8
300
Purc
hase
d Se
rvic
es-
-
-
-
-
-
175
17
5
32
1 Pu
blic
Util
ities
(Exc
lude
s ga
s, o
il, e
lec.
& o
ther
hea
ting
fuel
s)-
-
-
-
-
-
126
12
6
40
0 Su
pplie
s an
d M
ater
ials
-
-
-
-
-
-
5,
364
5,36
4
470
Ener
gy (I
nclu
de g
as, o
il, e
lec.
& o
ther
hea
ting
fuel
s)-
-
-
-
-
-
5,52
5
5,
525
50
0 C
apita
l Out
lay
-
-
-
-
-
-
22
5
225
86
OTH
ERD
ESIG
NAT
EDO
THER
PRES
CH
OO
LR
ESTR
ICTE
DSP
ECIA
LTI
TLE
IID
EAH
AND
ICAP
PED
CAT
EAD
ULT
STAT
ER
EVEN
UE
(BA
Proj
ects
)(C
A Pr
ojec
ts)
(CG
Pro
ject
s)(V
A Pr
ojec
ts)
EDU
CAT
ION
GR
ANTS
PRO
GR
AMS
(201
/202
)(2
03/2
04)
(205
/206
)(2
07/2
08)
(EA
Proj
ects
)(9
00s)
(200
s/80
0s)
TOTA
L
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYSP
ECIA
L R
EVEN
UE
- SPE
CIA
L PR
OJE
CTS
CO
MB
ININ
G S
CH
EDU
LE O
F R
EVEN
UES
, EXP
END
ITU
RES
AN
D C
HAN
GES
IN F
UN
D B
ALAN
CE
FOR
TH
E YE
AR E
ND
ED J
UN
E 30
, 201
9
255
Stud
ent T
rans
porta
tion
(Sta
te M
anda
ted)
:10
0 Sa
larie
s-
-
-
-
-
-
8,53
1
8,
531
20
0 Em
ploy
ee B
enef
its-
-
-
-
-
-
5,78
4
5,
784
30
0 Pu
rcha
sed
Serv
ices
-
-
-
-
-
-
11
,918
11
,918
256
Food
Ser
vice
:10
0 Sa
larie
s-
-
-
-
-
-
5,85
5
5,
855
20
0 Em
ploy
ee B
enef
its-
-
-
-
-
-
1,88
0
1,
880
30
0 Pu
rcha
sed
Serv
ices
(Exc
lude
s ga
s, o
il, e
lect
ricity
, and
oth
er h
eatin
g fu
els.
)-
-
-
-
-
-
160
16
0
40
0 Su
pplie
s an
d M
ater
ials
(Inc
lude
s ga
s, o
il, e
lect
ricity
, and
oth
er h
eatin
g fu
els.
)-
-
-
-
-
-
2,19
9
2,
199
25
8 Se
curit
y:10
0 Sa
larie
s-
-
-
-
-
-
4,48
6
4,
486
20
0 Em
ploy
ee B
enef
its-
-
-
-
-
-
2,01
5
2,
015
30
0 Pu
rcha
sed
Serv
ices
-
-
-
-
-
-
25
,170
25
,170
400
Supp
lies
and
Mat
eria
ls-
-
-
-
-
1,
263
25
,520
26
,783
500
Cap
ital O
utla
y-
-
-
-
-
38
,047
1,79
0
39
,837
260
Cen
tral S
uppo
rt Se
rvic
es
266
Tech
nolo
gy a
nd D
ata
Proc
essi
ng S
ervi
ces:
100
Sala
ries
-
-
-
-
-
-
75
7
757
200
Empl
oyee
Ben
efits
-
-
-
-
-
-
31
7
317
300
Purc
hase
d Se
rvic
es-
-
-
-
-
-
50,2
56
50,2
56
50
0 C
apita
l Out
lay
-
-
-
-
-
20,6
90
-
20
,690
270
Supp
ort S
ervi
ces
Pupi
l Act
ivity
271
Pupi
l Ser
vice
s Ac
tiviti
es:
100
Sala
ries
(opt
iona
l)98
6
-
-
-
-
-
7,09
9
8,
085
20
0 Em
ploy
ee B
enef
its (o
ptio
nal)
352
-
-
-
-
-
2,
299
2,65
1
300
Purc
hase
d Se
rvic
es (o
ptio
nal)
200
-
-
27,7
28
-
-
15
,151
43
,079
400
Supp
lies
and
Mat
eria
ls (o
ptio
nal)
-
-
-
-
-
-
5,
504
5,50
4
Tota
l Sup
port
Ser
vice
s73
1,80
2
1,02
7,04
2
39
,100
66
,471
-
1,
471,
092
1,16
1,16
0
4,
496,
667
300
Com
mun
ity S
ervi
ces
350
Cus
tody
and
Car
e of
Chi
ldre
n Se
rvic
es:
100
Sala
ries
-
-
-
-
-
-
10
,827
10
,827
200
Empl
oyee
Ben
efits
-
-
-
-
-
-
3,
100
3,10
0
400
Supp
lies
and
Mat
eria
ls-
-
-
-
-
-
2,58
9
2,
589
390
Oth
er C
omm
unity
Ser
vice
s:40
0 Su
pplie
s an
d M
ater
ials
-
-
-
-
-
-
95
5
955
Tota
l Com
mun
ity S
ervi
ces
-
-
-
-
-
-
17
,471
17
,471
87
OTH
ERD
ESIG
NAT
EDO
THER
PRES
CH
OO
LR
ESTR
ICTE
DSP
ECIA
LTI
TLE
IID
EAH
AND
ICAP
PED
CAT
EAD
ULT
STAT
ER
EVEN
UE
(BA
Proj
ects
)(C
A Pr
ojec
ts)
(CG
Pro
ject
s)(V
A Pr
ojec
ts)
EDU
CAT
ION
GR
ANTS
PRO
GR
AMS
(201
/202
)(2
03/2
04)
(205
/206
)(2
07/2
08)
(EA
Proj
ects
)(9
00s)
(200
s/80
0s)
TOTA
L
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYSP
ECIA
L R
EVEN
UE
- SPE
CIA
L PR
OJE
CTS
CO
MB
ININ
G S
CH
EDU
LE O
F R
EVEN
UES
, EXP
END
ITU
RES
AN
D C
HAN
GES
IN F
UN
D B
ALAN
CE
FOR
TH
E YE
AR E
ND
ED J
UN
E 30
, 201
9
400
Oth
er C
harg
es:
410
Inte
rgov
ernm
enta
l Exp
endi
ture
s
411
Paym
ents
to th
e So
uth
Car
olin
a D
epar
tmen
t of E
duca
tion
720
Tran
sits
-
-
-
-
-
-
11
2,21
0
112,
210
416
LEA
Paym
ents
to P
ublic
Cha
rter S
choo
ls72
0 Tr
ansi
ts-
39,5
55
-
-
-
71
,375
6,05
3
11
6,98
3
Tota
l Int
ergo
vern
men
tal E
xpen
ditu
res
-
39
,555
-
-
-
71,3
75
11
8,26
3
229,
193
Tota
l Exp
endi
ture
s2,
824,
490
$
2,29
8,72
0$
60
,960
$
15
6,20
9$
116,
611
$
1,
634,
677
$
2,55
6,76
8$
9,
648,
435
$
Oth
er F
inan
cing
Sou
rces
(Use
s)
Inte
rfund
Tra
nsfe
rs, F
rom
(To)
Oth
er F
unds
:
5210
Tra
nsfe
r fro
m G
ener
al F
und
(Exc
lude
Indi
rect
Cos
ts)
-
-
-
-
-
-
43
1,40
6
431,
406
431-
791
Spec
ial R
even
ue F
und
Indi
rect
Cos
ts(1
40,7
09)
(1
13,4
50)
(3
,091
)
(7,7
83)
(5,6
66)
-
(4
7,22
8)
(317
,927
)
Tota
l Oth
er F
inan
cing
Sou
rces
(Use
s)(1
40,7
09)
(1
13,4
50)
(3
,091
)
(7,7
83)
(5,6
66)
-
38
4,17
8
113,
479
Exce
ss/D
efic
ienc
y of
Rev
enue
s ov
er E
xpen
ditu
res
-$
-
$
-$
-$
-
$
-$
43
1,40
6$
431,
406
$
Fund
Bal
ance
, Beg
inni
ng o
f Yea
r-
-
-
-
-
-
(431
,406
)
(4
31,4
06)
Fund
Bal
ance
, End
of Y
ear
-$
-
$
-$
-$
-
$
-$
-
$
-
$
88
Dis
tric
tD
istr
ict
Inte
rfun
dO
ther
Fun
dSu
bfun
dR
even
ueTr
ansf
ers
Tran
sfer
sU
near
ned
Cod
eC
ode
Prog
ram
Rev
enue
sEx
pend
iture
sIn
/(Out
)In
/(Out
)R
even
ue
9190
3193
Educ
atio
n Li
cens
e Pl
ates
2,30
6$
2,
306
$
-
$
-$
-$
92
8031
18EE
DA
Car
eer S
peci
alis
ts51
8,68
3
51
8,68
3
-
-
-
9350
3135
Rea
ding
Coa
ches
641,
046
641,
046
-
-
-
93
6031
36St
uden
t Hea
lth a
nd F
itnes
s - N
urse
s32
0,06
3
32
0,06
3
-
-
-
9370
3127
Stud
ent H
ealth
and
Fitn
ess
- PE
Teac
hers
64,0
71
64,0
71
-
-
-
95
6031
56Ad
ult E
duca
tion
28,5
08
28,5
08
-
-
-
97
0036
70Sc
hool
Saf
ety
- Fac
ility
& In
frast
ruct
ure
Safe
ty U
pgra
des
60,0
00
60,0
00
-
-
-
1,63
4,67
7$
1,63
4,67
7$
-
$
-$
-$
FOR
TH
E YE
AR E
ND
ED J
UN
E 30
, 201
9SU
MM
ARY
SCH
EDU
LE O
F D
ESIG
NAT
ED S
TATE
RES
TRIC
TED
GR
ANTS
SPEC
IAL
REV
ENU
E - S
PEC
IAL
PRO
JEC
TSTH
E SC
HO
OL
DIS
TRIC
T O
F G
EOR
GET
OW
N C
OU
NTY
89
Assets
Cash & Cash Equivalents 1,378,605$ Due From State Government 10,318 Other Receivables 200
Total Assets 1,389,123$
Liabilities & Fund Balances
Liabilities
Accounts Payable 17,235 Due To State Government 10,022 Unearned Revenue 1,361,866
Total Liabilities 1,389,123
Fund Balances
Restricted -
Total Fund Balances -
Total Liabilities & Fund Balances 1,389,123$
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYSPECIAL REVENUE FUND - EDUCATION IMPROVEMENT ACT
BALANCE SHEETJUNE 30, 2019
90
Revenues
3000 Revenue from State Sources
3500 Education Improvement Act:3502 ADEPT 9,139$ 3507 Aid to Districts - Technology 130,473 3511 Professional Development 146,430 3518 Formative Assessment 86,764 3519 Grade 10 Assessment 28,221 3526 Refurbishment of K-8 Science Kits 37,773 3528 Industry Certifications & Credentials 24,344 3529 Career & Technology Education 298,058 3532 National Board Salary Supplement (No Carryover Provision) 690,598 3533 Teacher of the Year Awards 1,077 3538 Students At Risk of School Failure 1,183,371 3541 Child Development Education Pilot Program (CDEP) 1,422,487 3550 Teacher Salary Increase (No Carryover Provision) 2,202,245 3555 Teacher Salary Fringe (No Carryover Provision) 451,769 3556 Adult Education 191,963 3557 Summer Reading Program 75,956 3558 Reading 2,947 3571 Technical Assistance - State Priority Schools 36,462 3577 Teacher Supplies (No Carryover Provision) 184,250 3589 Maintenance of State Financial Support Tier II 87,000 3595 EEDA - Supplies and Materials 1,588 3597 Aid to Districts 1,443
Total State Sources 7,294,358
Total Revenues All Sources 7,294,358$
Expenditures
100 Instruction
110 General Instruction
111 Kindergarten Programs:100 Salaries 22,500 200 Employee Benefits 6,269 300 Purchased Services 10,847 400 Supplies and Materials 2,230
112 Primary Programs:100 Salaries 119,807 200 Employee Benefits 33,184 300 Purchased Services 44,970 400 Supplies and Materials 47,172
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYSPECIAL REVENUE - EDUCATION IMPROVEMENT ACT
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCEFOR THE YEAR ENDED JUNE 30, 2019
91
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYSPECIAL REVENUE - EDUCATION IMPROVEMENT ACT
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCEFOR THE YEAR ENDED JUNE 30, 2019
113 Elementary Programs:100 Salaries 131,986 200 Employee Benefits 37,191 300 Purchased Services 111,862 400 Supplies and Materials 186,778 600 Other Objects 800
114 High School Programs:100 Salaries 104,548 200 Employee Benefits 29,134 300 Purchased Services 36,019 400 Supplies and Materials 110,207 500 Capital Outlay 524 600 Other Objects 800
115 Career and Technology Education Programs:100 Salaries 15,000 200 Employee Benefits 4,223 300 Purchased Services - Other Than Tuition 22,211 400 Supplies and Materials 1,181 500 Capital Outlay 152,824
120 Exceptional Programs
121 Educable Mentally Handicapped:300 Purchased Services 51
122 Trainable Mentally Handicapped:300 Purchased Services 535
124 Visually Handicapped:400 Supplies and Materials 275
125 Hearing Handicapped:100 Salaries 7,500 200 Employee Benefits 2,108 400 Supplies and Materials 550
127 Learning Disabilities:100 Salaries 36,457 200 Employee Benefits 10,196 300 Purchased Services 73,758 400 Supplies and Materials 275
128 Emotionally Handicapped:300 Purchased Services 374
130 Pre-School Prgrams
137 Pre-School Handicapped-Self-Contained (3 & 4 year olds):300 Purchased Services 211
92
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYSPECIAL REVENUE - EDUCATION IMPROVEMENT ACT
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCEFOR THE YEAR ENDED JUNE 30, 2019
140 Special Programs
147 CDEP:100 Salaries 947,887 200 Employee Benefits 454,730 300 Purchased Services 19,871
160 Other Exceptional Programs
161 Autism:400 Supplies and Materials 275
162 Limited English Proficiency:100 Salaries 7,500 200 Employee Benefits 2,120 400 Supplies and Materials 1,375
170 Summer School Program
171 Primary Summer School:100 Salaries 40,025 200 Employee Benefits 11,942 400 Supplies and Materials 5,502
175 Instructional Programs Beyond Regular School Day:100 Salaries 7,825 200 Employee Benefits 2,288
180 Adult/Continuing Educational Programs
181 Adult Basic Education Programs:100 Salaries 15,209 200 Employee Benefits 4,446 300 Purchased Services 1,206 400 Supplies and Materials 296
182 Adult Secondary Education Programs:100 Salaries 3,900 200 Employee Benefits 1,146 300 Purchased Services 3,105
Total Instruction 2,895,205
200 Support Services
210 Pupil Services
212 Guidance Services:100 Salaries 67,900 200 Employee Benefits 24,154 400 Supplies and Materials 1,588
93
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYSPECIAL REVENUE - EDUCATION IMPROVEMENT ACT
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCEFOR THE YEAR ENDED JUNE 30, 2019
213 Health Services:100 Salaries 4,923 200 Employee Benefits 1,477
216 Vocational Placement Services:300 Purchased Services 1,243
220 Instructional Staff Services
221 Improvement of Instruction Curriculum Development:100 Salaries 638,374 200 Employee Benefits 243,111 400 Supplies and Materials 13,503 600 Other Objects 794
222 Library and Media Services:100 Salaries 22,500 200 Employee Benefits 6,271
223 Supervision of Special Programs:100 Salaries 247,762 200 Employee Benefits 90,150 300 Purchased Services 7,570 400 Supplies and Materials 1,587 600 Other Objects 91
224 Improvement of Instruction Inservice and Staff Training:100 Salaries 16,121 200 Employee Benefits 4,647 300 Purchased Services 101,302 400 Supplies and Materials 12,795
230 General Administration Services
233 School Administration:300 Purchased Services 66,667
250 Finance and Operations Services
255 Student Transportation (State Mandated):100 Salaries 5,467 200 Employee Benefits 1,633 300 Purchased Services 894
260 Central Support Services
266 Technology and Data Processing Services:500 Capital Outlay 129,318
94
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYSPECIAL REVENUE - EDUCATION IMPROVEMENT ACT
COMBINING SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCEFOR THE YEAR ENDED JUNE 30, 2019
270 Support Services Pupil Activity
271 Pupil Services Activities:100 Salaries (optional) 3,301 200 Employee Benefits (optional) 1,153 300 Purchased Services (optional) 1,395
Total Support Services 1,717,691
400 Other Charges:
410 Intergovernmental Expenditures
416 LEA Payments to Public Charter Schools720 Transits 78,850
Total Intergovernmental Expenditures 78,850
Total Expenditures 4,691,746$
Other Financing Sources (Uses)
Interfund Transfers, From (To) Other Funds:
420-710 Transfer to General Fund (Exclude Indirect Costs) (2,602,612)
Total Other Financing Sources (Uses) (2,602,612)
Excess/Deficiency of Revenues over Expenditures -$
Fund Balance, Beginning of Year -
Fund Balance, End of Year -$
95
Inte
rfun
dO
ther
Fun
dTr
ansf
ers
Tran
sfer
sU
near
ned
Prog
ram
Rev
enue
sEx
pend
iture
sIn
/(Out
)In
/(Out
)R
even
ue
3500
Edu
catio
n Im
prov
emen
t Act
:35
02 A
DEP
T9,
139
$
9,13
9$
-$
-
$
-$
35
07 A
id to
Dis
trict
s - T
echn
olog
y13
0,47
3
130,
473
-
-
-
35
11 P
rofe
ssio
nal D
evel
opm
ent
146,
430
14
6,43
0
-
-
-
3518
For
mat
ive
Asse
ssm
ent
86,7
64
86
,764
-
-
12,0
25
35
19 G
rade
10
Asse
ssm
ent
28,2
21
28
,221
-
-
-
35
26 R
efur
bish
men
t of K
-8 S
cien
ce K
its37
,773
37,7
73
-
-
19
,788
3528
Indu
stry
Cer
tific
atio
ns &
Cre
dent
ials
24,3
44
24
,344
-
-
7,96
2
35
29 C
aree
r & T
echn
olog
y Ed
ucat
ion
298,
058
29
8,05
8
-
-
55
,099
3532
Nat
iona
l Boa
rd S
alar
y Su
pple
men
t (N
o C
arry
over
Pro
visi
on)
690,
598
69
0,59
8
-
-
-
3533
Tea
cher
of t
he Y
ear A
war
ds1,
077
1,07
7
-
-
-
35
38 S
tude
nts
At R
isk
of S
choo
l Fai
lure
1,18
3,37
1
1,
183,
371
-
-
66
6,91
0
3541
Chi
ld D
evel
opm
ent E
duca
tion
Pilo
t Pro
gram
(CD
EP)
1,42
2,48
7
1,
422,
487
-
-
-
3550
Tea
cher
Sal
ary
Incr
ease
(No
Car
ryov
er P
rovi
sion
)2,
202,
245
39,6
07
-
(2,1
62,6
38)
-
35
55 T
each
er S
alar
y Fr
inge
(No
Car
ryov
er P
rovi
sion
)45
1,76
9
11,7
95
-
(439
,974
)
-
35
56 A
dult
Educ
atio
n19
1,96
3
191,
963
-
-
119,
351
35
57 S
umm
er R
eadi
ng P
rogr
am75
,956
75,9
56
-
-
52
,026
3558
Rea
ding
2,94
7
2,
947
-
-
-
3571
Tec
hnic
al A
ssis
tanc
e - S
tate
Prio
rity
Scho
ols
36,4
62
36
,462
-
-
137,
450
35
77 T
each
er S
uppl
ies
(No
Car
ryov
er P
rovi
sion
)18
4,25
0
184,
250
-
-
-
35
89 M
aint
enan
ce o
f Sta
te F
isca
l Sup
port
- Tie
r I87
,000
87,0
00
-
-
-
3595
EED
A - S
uppl
ies
and
Mat
eria
l1,
588
1,58
8
-
-
12,5
96
35
97 A
id to
Dis
trict
s1,
443
1,44
3
-
-
278,
659
Tota
l7,
294,
358
$
4,69
1,74
6$
-$
(2
,602
,612
)$
1,
361,
866
$
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYSP
ECIA
L R
EVEN
UE
- ED
UC
ATIO
N IM
PRO
VEM
ENT
ACT
SUM
MAR
Y SC
HED
ULE
BY
PRO
GR
AMFO
R T
HE
YEAR
EN
DED
JU
NE
30, 2
019
96
DEBT SERVICE FUND
The Debt Service Fund accounts for the accumulation of resources for, and the payment of the District's general long-term debt principal and interest. The resources of this fund are generated by a tax levy based upon property values. The following individual fund statements and schedules have been prepared in the format mandated by the South Carolina Department of Education. The account numbers shown on various statements are also mandated by the South Carolina Department of Education.
Assets
Cash & Cash Equivalents 7,578,382$ Property Tax Receivable, Net 398,251
Total Assets 7,976,633$
Liabilities, Deferred Inflows of Resources & Fund Balances
Liabilities
Accounts Payable 1,500
Total Liabilities 1,500
Deferred Inflows of Resources
Unavailable Tax Revenues 338,692
Total Deferred Inflows of Resources 338,692
Fund Balances
Restricted For Debt Service 7,636,441
Total Fund Balances 7,636,441
Total Liabilities, Deferred Inflows of Resources & Fund Balances 7,976,633$
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYDEBT SERVICE FUND
BALANCE SHEETJUNE 30, 2019
97
Revenues
1000 Revenue from Local Sources
1100 Taxes Levied/Assessed by the LEA:1110 Ad Valorem Taxes-Including Delinquent (Independent) 15,334,197$ 1140 Penalties & Interest on Taxes (Independent) 97,271
1200 Revenue From Local Governmental Units Other Than LEAs1280 Revenue in Lieu of Taxes (Independent and Dependent) 386,156
1500 Earnings on Investments:1510 Interest on Investments 190,855
Total Local Sources 16,008,479
3000 Revenue from State Sources
3800 State Revenue in Lieu of Taxes:3820 Homestead Exemption (Tier 2) 416,378 3830 Merchant's Inventory Tax 53,975 3840 Manufacturers Depreciation Reimbursement 248,212 3890 Other State Property Tax Revenues (Includes Motor Carrier Vehicle Tax) 84,683
Total State Sources 803,248
4000 Revenue from Federal Sources
4900 Other Federal Sources:4990 Other Federal Revenue:
4999 Revenue from Other Federal Sources 837,215
Total Federal Sources 837,215
Total Revenues All Sources 17,648,942$
Expenditures
500 Debt Service
319 Legal Services 131,500 395 Other Professional and Technical Services 200,019 610 Redemption of Principal 14,045,000 620 Interest 4,609,160 690 Other Objects (Includes Fees For Servicing Bonds) 7,515
Total Debt Service 18,993,194
Total Expenditures 18,993,194$
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYDEBT SERVICE FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCEFOR THE YEAR ENDED JUNE 30, 2019
98
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYDEBT SERVICE FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCEFOR THE YEAR ENDED JUNE 30, 2019
Other Financing Sources (Uses)
Interfund Transfers, From (To) Other Funds:
5250 Transfer from School Building Fund Capital Projects Fund 331,519
Total Other Financing Sources (Uses) 331,519
Excess/Deficiency of Revenues over Expenditures (1,012,733)$
Fund Balance, Beginning of Year 8,649,174
Fund Balance, End of Year 7,636,441$
99
CAPITAL PROJECTS FUND
The Capital Projects Fund accounts, also referred to as the "School Building Fund", is used to record proceeds from the sale of long-term general obligation bonds and other revenues used to acquire or construct major capital facilities (other than those of proprietary and trust funds). The following individual fund statements and schedules have been prepared in the format mandated by the South Carolina Department of Education. The account numbers shown on various statements are also mandated by the South Carolina Department of Education.
Assets
Cash & Cash Equivalents 115,821,690$ Due From County Government 2,000,000 Other Receivables 187
Total Assets 117,821,877$
Liabilities & Fund Balances
Liabilities
Accounts Payable 12,817,709 Bonds Payable 100,000,000 Retainage Payable 1,567,740
Total Liabilities 114,385,449
Fund Balances
Restricted For Capital Projects 3,436,428
Total Fund Balances 3,436,428
Total Liabilities & Fund Balances 117,821,877$
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYCAPITAL PROJECTS FUND
BALANCE SHEETJUNE 30, 2019
100
Revenues
1000 Revenue from Local Sources
1500 Earnings on Investments:1510 Interest on Investments 67,051$
1900 Other Revenue from Local Sources:1920 Contributions & Donations Private Sources 13,824
1990 Miscellaneous Local Revenue:1993 Receipt of Insurance Proceeds 383,355 1999 Revenue from Other Local Sources 2,022
Total Local Sources 466,252
Total Revenues All Sources 466,252$
Expenditures
200 Support Services
250 Finance and Operations Services
253 Facilities Acquisition and Construction:100 Salaries 202,867 200 Employee Benefits 75,391 300 Purchased Services 1,539,015 400 Supplies and Materials 25,861 500 Capital Outlay
510 Land 5,000 520 Construction Services 47,195,341 530 Improvements Other Than Buildings 591,787 540 Equipment 361,498 545 Technology Equipment and Software 4,659,938 550 Vehicles 66,899
600 Other Objects 290
Total Support Services 54,723,887
400 Other Charges:
410 Intergovernmental Expenditures
416 LEA Payments to Public Charter Schools720 Transits 55,936
Total Intergovernmental Expenditures 55,936
Total Expenditures 54,779,823$
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYCAPITAL PROJECTS FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCEFOR THE YEAR ENDED JUNE 30, 2019
101
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYCAPITAL PROJECTS FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCEFOR THE YEAR ENDED JUNE 30, 2019
Other Financing Sources (Uses)
5110 Premium on Bonds Sold 4,986,478 5120 Proceeds of General Obligation Bonds 55,000,000 5300 Sale of Capital Assets 38,170
Interfund Transfers, From (To) Other Funds:
423-710 Transfer to Debt Service Fund (331,519) 425-710 Transfer to Food Service Fund (98,430)
Total Other Financing Sources (Uses) 59,594,699
Excess/Deficiency of Revenues over Expenditures 5,281,128$
Fund Balance, Beginning of Year (1,844,700)
Fund Balance, End of Year 3,436,428$
102
ENTERPRISE FUND
The Enterprise Fund accounts for operations that are financed and operated in a manner similar to private business enterprises where the stated intent is that the costs (expenses, depreciation and indirect costs) of providing goods or services to the students or general public on a continuing basis are financed or recovered through user fees. School Food Services is the District's only Enterprise Fund and its purpose is to provide balanced nutritious meals to the School District's students, some of which are free and reduced meals under the United States Department of Agriculture (USDA) school breakfast and lunch programs. The following individual fund statements and schedules have been prepared in the format mandated by the South Carolina Department of Education. The account numbers shown on various statements are also mandated by the South Carolina Department of Education.
Assets
Cash & Cash Equivalents 2,860,151$ Due From Federal Government 53,616 Inventories - Supplies & Materials 65,428 Other Receivables 1,411 Property, Plant and Equipment, Net 406,395
Total Assets 3,387,001$
Deferred Outflows of Resources
Net Pension Deferred Outflows 213,758Net OPEB Deferred Outflows 52,519Employer Contributions Subsequent to Measurement Date 335,856
Total Deferred Outflows of Resources 602,133$
Liabilities
Accounts Payable 10,522 Net Pension Liability 3,575,116Net OPEB Liability 2,775,433
Total Liabilities 6,361,071$
Deferred Inflows of Resources
Net Pension Deferred Inflows 203,897Net OPEB Deferred Inflows 300,794
Total Deferred Inflows of Resources 504,691$
Fund Balances
Net Investment in Capital Assets 406,395 Unrestricted (3,283,023)
Total Fund Balances (2,876,628)$
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYPROPRIETARY FUND - FOOD SERVICE
BALANCE SHEETJUNE 30, 2019
103
Revenues
1000 Revenue from Local Sources
1500 Earnings on Investments:1510 Interest on Investments 2,756$
1600 Food Service:1610 Lunch Sales to Pupils 177,981 1620 Breakfast Sales to Pupils 8,868 1630 Special Sales to Pupils 33,010 1640 Lunch Sales to Adults 79,229 1650 Breakfast Sales to Adults 3,093 1660 Special Sales to Adults 23,347
Total Local Sources 328,284
4000 Revenue from Federal Sources
4800 USDA Reimbursement:4810 School Lunch and After School Snacks Program 2,750,914 4830 School Breakfast Program 1,239,122 4860 Fresh Fruit & Vegetable Program (FFVP) (Carryover Provision) 142,212 4870 School Food Service (Equipment) 76,625 4880 Summer Food Program 87,652
4900 Other Federal Sources:4990 Other Federal Revenue:
4991 USDA Commodities (Food Distribution Program) (Carryover Provision) 314,759
Total Federal Sources 4,611,284
Total Revenues All Sources 4,939,568$
Expenditures
200 Support Services
250 Finance and Operations Services
256 Food Service:100 Salaries 1,699,942 200 Employee Benefits 431,461 300 Purchased Services (Excludes gas, oil, electricity, and other heating fuels.) 51,831 400 Supplies and Materials (Includes gas, oil, electricity, and other heating fuels.) 2,173,815 500 Capital Outlay 127,249 600 Other Objects 8,111
Total Support Services 4,492,409
Total Expenditures 4,492,409$
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYPROPRIETARY FUND - FOOD SERVICE FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCEFOR THE YEAR ENDED JUNE 30, 2019
104
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYPROPRIETARY FUND - FOOD SERVICE FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCEFOR THE YEAR ENDED JUNE 30, 2019
Other Financing Sources (Uses)
5300 Sale of Capital Assets 677
Interfund Transfers, From (To) Other Funds:
5250 Transfer from School Building Fund Capital Projects Fund 98,430 432-791 Food Service Fund Indirect Costs (283,968)
Total Other Financing Sources (Uses) (184,861)
Excess/Deficiency of Revenues over Expenditures 262,298$
Fund Balance, Beginning of Year, As Restated (3,138,926)
Fund Balance, End of Year (2,876,628)$
105
FIDUCIARY FUND
The Fiduciary Fund accounts for assets held by the District in a trustee capacity or as an agent for individuals, private organizations, other governmental units, and/or other funds. Fiduciary agency funds are purely custodial and do not involve measurement of results and operations. The Pupil Activity Fund is used to record the receipts and disbursements of monies from various student activities organizations. These organizations exist with the explicit approval of the Board of Education. The approval may be revoked. The fund accounting reflects the School District's agency relationship with student activities organizations. The following individual fund statements and schedules have been prepared in the format mandated by the South Carolina Department of Education. The account numbers shown on various statements are also mandated by the South Carolina Department of Education.
PUPILACTIVITY
Assets
Cash & Cash Equivalents 736,850$ Other Receivables 9,945
Total Assets 746,795$
Liabilities
Due to Pupil Activities 746,795
Total Liabilities 746,795$
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYFIDUCIARY FUND - PUPIL ACTIVITY AGENCY FUND
SCHEDULE OF FIDUCIARY ASSETS AND LIABILITIESJUNE 30, 2019
106
Receipts
1000 Receipts from Local Sources
1700 Pupil Activities:1710 Admissions 325,728$ 1720 Bookstore Sales 9,815 1730 Pupil Organization Membership Dues and Fees 8,139 1740 Student Fees 20,997 1790 Other Pupil Activity Income 1,052,855
1900 Other Receipts from Local Sources:1920 Contributions & Donations Private Sources 101,029
Total Local Sources 1,518,563
Total Receipts All Sources 1,518,563$
Disbursements
100 Instruction
190 Instructional Pupil Activity:100 Salaries (optional) 64 300 Purchased Services (optional) 42,594 400 Supplies and Materials (optional) 99,750 500 Capital Outlay (optional) 7,991 600 Other Objects 1,763
660 Instructional Pupil Activity 1,250
Total Instruction 153,412
200 Support Services
270 Support Services Pupil Activity
271 Pupil Services Activities:100 Salaries (optional) 48,336 300 Purchased Services (optional) 422,762 400 Supplies and Materials (optional) 267,066 500 Capital Outlay (optional) 6,953 600 Other Objects (optional) 9,216
660 Pupil Activity 17,942 272 Enterprise Activities
400 Supplies and Materials (optional) 15,002
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYFIDUCIARY FUND - PUPIL ACTIVITY AGENCY FUND
SCHEDULE OF RECEIPTS, DISBURSEMENTS AND CHANGES IN AMOUNTS DUE TO PUPIL ACTIVITIESFOR THE YEAR ENDED JUNE 30, 2019
107
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYFIDUCIARY FUND - PUPIL ACTIVITY AGENCY FUND
SCHEDULE OF RECEIPTS, DISBURSEMENTS AND CHANGES IN AMOUNTS DUE TO PUPIL ACTIVITIESFOR THE YEAR ENDED JUNE 30, 2019
273 Trust and Agency Activities 100 Salaries (optional) 838 300 Purchased Services (optional) 121,403 400 Supplies and Materials (optional) 330,489 500 Capital Outlay (optional) 13,404 600 Other Objects (optional) 15,171
660 Pupil Activity 41,691
Total Support Services 1,310,273
Total Disbursements 1,463,685$
Other Financing Sources (Uses)
Interfund Transfers, From (To) Other Funds:
5270 Transfer from Pupil Activity Fund 104,881 426-710 Transfer to Pupil Activity Fund (104,881)
Total Other Financing Sources (Uses) -
Excess/Deficiency of Receipts over Disbursements 54,878$
Fund Balance, Beginning of Year 691,917
Fund Balance, End of Year 746,795$
108
Balance BalanceJune 30, 2018 Additions Reductions June 30, 2019
Assets
Cash & Cash Equivalents 683,836$ 1,516,699$ 1,463,685$ 736,850$ Other Receivables 8,081 1,864 - 9,945
Total Assets 691,917$ 1,518,563$ 1,463,685$ 746,795$
Liabilities
Due to Pupil Activities 691,917 1,518,563 1,463,685 746,795
Total Liabilities 691,917$ 1,518,563$ 1,463,685$ 746,795$
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYFIDUCIARY FUND - PUPIL ACTIVITY FUND
SCHEDULE OF CHANGES IN ASSETS AND LIABILITIESJUNE 30, 2019
109
SUPPLEMENTARY SCHEDULES
REQUIRED BY THE SOUTH CAROLINA STATE
DEPARTMENT OF EDUCATION
Amou
nt D
ueSt
atus
of
Rev
enue
&to
SD
E or
Amou
nts
Proj
ect/G
rant
Subf
und
Fede
ral
Due
To
Prog
ram
Num
ber
Cod
eD
escr
iptio
nG
over
nmen
tG
rant
ors
Nat
iona
l Boa
rd C
ertif
icat
ion
(NBC
) Sal
ary
Supp
lem
ent
FY 1
8-19
3320
/ 35
32R
eim
burs
emen
t10
,022
.03
$
Che
ck #
280
562
- 7/1
7/19
19 T
itle
I Sch
ool I
mpr
ovem
ent M
ini
FY 1
8-19
2380
/ 43
10R
eim
burs
emen
t10
.39
Che
ck #
281
924
- 8/2
1/19
IDEA
- SS
IPFY
18-
1920
90 /
4560
Rei
mbu
rsem
ent
318.
45
C
heck
# 2
8044
8 - 7
/15/
19
10,3
50.8
7$
JUN
E 30
, 201
9D
ETAI
LED
SC
HED
ULE
OF
DU
E TO
STA
TE D
EPAR
TMEN
T O
F ED
UC
ATIO
N/ F
EDER
AL G
OVE
RN
MEN
TTH
E SC
HO
OL
DIS
TRIC
T O
F G
EOR
GET
OW
N C
OU
NTY
110
Location Location Education Cost TotalID Description Level Type Expenditures
001 Andrews High High School School 13,956,955$ 004 Georgetown High High School School 19,443,165 008 Andrews Elementary Elementary School School 7,536,029 009 Brown's Ferry Elementary Elementary School School 2,685,541 012 Pleasant Hill Elementary Elementary School School 4,213,017 013 Georgetown Middle Middle School School 9,060,765 014 Kensington Elementary Elementary School School 7,022,058 015 Maryville Elementary Elementary School School 5,663,558 016 McDonald Elementary Elementary School School 5,870,690 020 Plantersville Elementary Elementary School School 2,254,912 022 Rosemary Middle Middle School School 6,533,152 023 Sampit Elementary Elementary School School 3,985,112 024 Waccamaw Elementary Elementary School School 6,958,560 025 Waccamaw High High School School 16,142,724 026 Carvers Bay High High School School 12,593,807 027 Carvers Bay Middle Middle School School 5,461,416 028 Waccamaw Middle Middle School School 4,547,767 029 Waccamaw Intermediate Intermediate School School 7,503,615 030 Superintendent's Office Non-School Central 531,070 031 Business Services Non-School Central 23,827,753 033 Operations and Maintenance Non-School Central 1,199,152 034 Human Resources Non-School Central 699,332 035 Gifted & Talented Non-School Central 61,032 038 Adult and Community Education Non-School Central 2,793,956 039 Optional Education Program Other School School 301,895 040 Fringe Benefits Non-School Central 48,308 041 Tara Hall Other School School 45,325 044 Board of Education Non-School Central 316,479 046 Pupil Transportation Non-School Central 789,535 048 Special Services Non-School Central 1,219,877 049 Information Technology Non-School Central 745,354 052 Public Information Office Non-School Central 237,044 053 Testing and Measurement Non-School Central 243,761 057 Career & Technology Education Non-School Central 144,823 058 Food Service Administration Non-School Central 407,642 059 Assistant Superintendent for Administration Non-School Central 324,900 060 Adept Non-School Central 378,467 061 Student Performance/Federal Programs Non-School Central 1,014,464 063 Curriculum & Instruction Non-School Central 140,238 064 Beck Administration Building Non-School Central 413,135 067 Satety/Risk Management Non-School Central 574,893 068 After School Programs Elementary School School 101,589 601 Coastal Montessori Charter School Charter School School 2,855,271
180,848,138$
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYLOCATION RECONCILIATION SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2019
Total Expenditures/Disbursements for All Funds
111
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYLOCATION RECONCILIATION SCHEDULE
FOR THE YEAR ENDED JUNE 30, 2019
86,778,846$ 9,648,4354,691,746
18,993,19454,779,823
4,492,4091,463,685
180,848,138$ Total Expenditures/Disbursements for All Funds
Above expenditures are reconciled to the District's Audit statements as follows:
General Fund (Subfund 100s)
Agency Fund - Pupil Activity (Subfund 700s)Enterprise Fund - Food Service (Subfund 600s)Capital Projects Fund (Subfund 500s)Debt Service Fund (Subfund 400s)Special Revenue Fund - EIA Fund (Subfund 300s)Special Revenue Fund - Special Projects (Subfund 200s, 800s, 900s)
112
District Other District OtherSubfund Special Revenue Programs Subfund Special Revenue Programs
Code Program Name Code Program Name
2090 SSIP Tier III 8390 FEMA2100 Title IV - SSAE 8400 PMD/Extended School Year - State2120 Extended School Year Handicap - Federal 8420 First Robotics - WHS2210 Title I, N & D 8430 Lowe's Toolkit - MCDES2340 School Improvement 8440 Special Olympics Unified2380 Title I Support 8450 Red Cross Shelters2400 Title I, Direct Student Services 8460 Santee Cooper Grant - SES2640 Title III 8470 MI Elks Lodge2670 Title II 8500 Rebecca Parson Grant2680 Medicaid 8510 Santee Cooper Grant - WMS2810 NJROTC - AHS 8520 Duke Energy Foundation2830 NJROTC - GHS 8580 Santee Cooper Grant - District2880 MJROTC - CBHS 8590 Risk Control Grant8010 AHS Grants 8630 Foundation for the Carolinas - CBHS8020 Facilities Rental 8640 CBHS Robotics8030 NASA Robotics - CBHS 8670 Capturing Kids Hearts8040 GHS Grants 8700 12 Month Agriculture Program8050 IP Robotics Grant - AHS 8740 SC Department of Commerce8070 Cummings Grant 8750 IP Foundation - WHS8130 GMS Grants 8810 Technology Fair8140 KES Grants 8850 Woodruff Family Foundation8150 MES Grants 8930 Medicaid8160 McDES Grants 8940 Community Education8170 Special Services 8950 Nurse Fund - WES8210 Jefferson Award - AHS8220 RMS Grants8230 SES Grants Adult Education8240 WES Grants 2430 Adult Education - Federal8250 WHS Grants8260 CBHS Grants8270 CBMS Grants Other8280 WMS Grants Restricted State Grants8300 Clemson University Duke Energy 9190 Education License Plate8310 PLTW 9280 EEDA Career Specialist8330 After School Extended Care 9350 Reading Coaches8350 Adult Education 9360 Student Health & Fitness - Elementary Nurse8360 SC International Reading Association 9370 Student Health & Fitness - Physical Education (K-5)8370 Santee Cooper - WHS 9560 Adult Education8380 Andrew Collins Grant 9700 School Safety - Facility & Infrastructure Safety Upgrades
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYSPECIAL REVENUE - SPECIAL PROJECTS
SUBFUND CODE LISTFOR THE YEAR ENDED JUNE 30, 2019
113
STATISTICAL SECTION (Unaudited)
The following statistical tables reflect social and economic data, financial trends, and the capacity of the school district.
III. STATISTICAL SECTION (Unaudited) This part of the District’s comprehensive annual financial report presents information as a context for understanding what the information in the financial statements, not disclosures, and required supplementary information says about the District’s overall financial health. Contents Page Financial Trends These schedules contain trend information to help the reader understand how
the District's financial performance and well-being have changed over time. 114-117 Revenue Capacity These schedules contain information to help the reader assess the District's most
significant local revenue source, the property tax. 118-121 Debt Capacity These schedules present information to help the reader assess the affordability
of the District's current levels of outstanding debt and the District's ability to issue additional debt in the future. 122-125
Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader
understand the environment within which the District's financial activities take place. 126-127
Operating Information These schedules contain service and infrastructure data to help the reader
understand how the information in the District's financial report relates to the services the District provides and the activities it performs. 128-140
Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial reports for the relevant year.
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Gov
ernm
enta
l act
iviti
esN
et In
vest
men
t in
capi
tal a
sset
s78
,320
,292
$
68,0
59,0
87$
72
,944
,198
$
96,0
25,2
16$
98
,481
,800
$
104,
609,
453
$
114,
233,
169
$
116,
767,
801
$
134,
848,
585
$
152,
052,
751
$
Res
trict
ed10
,082
,170
25,3
51,4
08
26
,013
,442
12,0
37,7
08
10
,243
,674
9,82
4,00
1
9,36
2,83
3
16,0
86,4
07
7,
938,
757
10
,396
,176
Unr
estri
cted
8,51
7,29
7
10,8
01,2
06
11
,688
,170
4,59
8,59
4
8,92
5,38
2
(90,
985,
304)
(95,
414,
263)
(100
,398
,577
)
(207
,159
,311
)
(222
,816
,413
)
Tota
l gov
ernm
enta
l act
iviti
es n
et p
ositi
on96
,919
,759
$
104,
211,
701
$
110,
645,
810
$
112,
661,
518
$
117,
650,
856
$
23,4
48,1
50$
28
,181
,739
$
32,4
55,6
31$
(6
4,37
1,96
9)$
(6
0,36
7,48
6)$
Bus
ines
s-ty
pe a
ctiv
ities
Net
Inve
stm
ent i
n ca
pita
l ass
ets
822,
877
711,
855
543,
974
440,
124
290,
111
262,
354
309,
218
289,
599
301,
594
406,
395
Unr
estri
cted
2,26
7,86
0
2,51
1,91
3
2,75
3,05
1
3,00
2,63
6
3,15
2,64
9
1,28
4,33
3
(37,
090)
(121
,360
)
(3
,440
,520
)
(3,2
83,0
23)
To
tal b
usin
ess-
type
act
iviti
es n
et p
ositi
on3,
090,
737
$
3,
223,
768
$
3,
297,
025
$
3,
442,
760
$
3,
442,
760
$
1,
546,
687
$
27
2,12
8$
16
8,23
9$
(3
,138
,926
)$
(2,8
76,6
28)
$
Prim
ary
gove
rnm
ent
Net
Inve
stm
ent i
n ca
pita
l ass
ets
79,1
43,1
69
68
,770
,942
73,4
88,1
72
96
,465
,340
98,7
71,9
11
10
4,87
1,80
7
11
4,54
2,38
7
11
7,05
7,40
0
13
5,15
0,17
9
15
2,45
9,14
6
R
estri
cted
10,0
82,1
70
25
,351
,408
26,0
13,4
42
12
,037
,708
10,2
43,6
74
9,
824,
001
9,
362,
833
16
,086
,407
7,93
8,75
7
10,3
96,1
76
U
nres
trict
ed10
,785
,157
13,3
13,1
19
14
,441
,221
7,60
1,23
0
12,0
78,0
31
(8
9,70
0,97
1)
(9
5,45
1,35
3)
(1
00,5
19,9
37)
(2
10,5
99,8
31)
(2
26,0
99,4
36)
To
tal p
rimar
y go
vern
men
t net
pos
ition
100,
010,
496
$
107,
435,
469
$
113,
942,
835
$
116,
104,
278
$
121,
093,
616
$
24,9
94,8
37$
28
,453
,867
$
32,6
23,8
70$
(6
7,51
0,89
5)$
(6
3,24
4,11
4)$
Sour
ce:
The
Scho
ol D
istri
ct o
f Geo
rget
own
Cou
nty
finan
cial
reco
rds.
LAST
TEN
FIS
CAL
YEA
RS
NET
PO
SITI
ON
BY
CO
MPO
NEN
TTH
E SC
HO
OL
DIS
TRIC
T O
F G
EOR
GET
OW
N C
OU
NTY
114
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Expe
nses
:G
over
nmen
tal A
ctiv
ities
:In
stru
ctio
nal S
ervi
ces
52,8
73,5
89$
53
,503
,960
$
53,0
92,6
47$
56
,603
,104
$
57,3
21,4
29$
57
,426
,372
$
58,7
69,8
15$
61
,481
,185
$
62,1
97,8
16$
57
,649
,325
$
Supp
ortin
g Se
rvic
es43
,913
,174
40,4
62,5
30
41
,959
,383
47,2
02,7
94
45
,233
,724
47,1
82,1
18
46
,850
,815
48,3
08,0
17
53
,881
,461
55,9
11,7
88
C
omm
unity
Ser
vice
s17
9,76
4
15
1,96
0
13
0,97
3
12
9,87
5
19
2,67
7
44
,585
60
,557
49
,685
12
0,70
6
14
6,37
7
In
tere
st &
Oth
er C
harg
es4,
772,
166
5,
406,
508
7,
809,
612
3,
010,
403
3,
820,
774
2,
584,
201
2,
124,
056
1,
406,
649
81
7,22
0
1,
971,
069
(L
oss)
on
Dis
posa
l of C
apita
l Ass
ets
-
-
-
5,67
3
-
-
66,7
66
-
-
-
Tota
l Gov
ernm
enta
l Act
iviti
es E
xpen
ses
101,
738,
693
99,5
24,9
58
10
2,99
2,61
5
10
6,95
1,84
9
10
6,56
8,60
4
10
7,23
7,27
6
10
7,87
2,00
9
11
1,24
5,53
6
11
7,01
7,20
3
11
5,67
8,55
9
Busi
ness
-Typ
e Ac
tiviti
es:
Food
ser
vice
4,46
1,11
0
4,47
6,97
8
4,50
3,01
9
4,41
0,20
2
4,21
3,63
5
4,56
5,75
4
5,97
9,64
0
4,50
8,34
2
5,04
5,03
4
4,49
2,40
9
Tota
l Bus
ines
s-Ty
pe A
ctiv
ities
Exp
ense
s :
4,46
1,11
0
4,47
6,97
8
4,50
3,01
9
4,41
0,20
2
4,21
3,63
5
4,56
5,75
4
5,97
9,64
0
4,50
8,34
2
5,04
5,03
4
4,49
2,40
9
Tota
l Prim
ary
Gov
ernm
ent E
xpen
ses
106,
199,
803
$
104,
001,
936
$
107,
495,
634
$
111,
362,
051
$
110,
782,
239
$
111,
803,
030
$
113,
851,
649
$
115,
753,
878
$
122,
062,
237
$
120,
170,
968
$
Prog
ram
Rev
enue
s:G
over
nmen
tal A
ctiv
ities
:C
harg
es fo
r Ser
vice
sIn
stru
ctio
n85
0,96
0$
76
,997
$
95
,318
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
Su
ppor
t Ser
vice
s80
,522
80
7,19
8
73
2,08
7
14
,552
15
,524
56
,365
63
,805
63
,093
89
,027
95
,570
O
pera
ting
Gra
nts
and
Con
tribu
tions
32,4
33,8
51
33
,886
,734
33,4
04,8
12
35
,877
,423
36,6
65,8
40
37
,243
,014
38,2
59,9
64
38
,947
,142
40,9
91,9
38
40
,753
,007
Cap
ital G
rant
s an
d C
ontri
butio
ns20
,214
36
,900
2,
926,
735
-
-
-
-
-
-
-
To
tal G
over
nmen
tal A
ctiv
ities
Rev
enue
s33
,385
,547
34,8
07,8
29
37
,158
,952
35,8
91,9
75
36
,681
,364
37,2
99,3
79
38
,323
,769
39,0
10,2
35
41
,080
,965
40,8
48,5
77
Busi
ness
-Typ
e Ac
tiviti
es:
Cha
rges
for S
ervi
ces
855,
930
828,
170
779,
679
666,
243
617,
124
367,
973
337,
805
329,
744
337,
116
325,
528
Ope
ratin
g G
rant
s an
d C
ontri
butio
ns3,
973,
688
4,
041,
504
4,
138,
748
4,
139,
700
3,
947,
813
4,
426,
906
4,
577,
152
4,
608,
829
4,
574,
152
4,
614,
040
To
tal B
usin
ess-
Type
Act
iviti
es R
even
ues
4,82
9,61
8
4,86
9,67
4
4,91
8,42
7
4,80
5,94
3
4,56
4,93
7
4,79
4,87
9
4,91
4,95
7
4,93
8,57
3
4,91
1,26
8
4,93
9,56
8
Tota
l Prim
ary
Gov
ernm
ent R
even
ues:
38,2
15,1
65
39
,677
,503
42,0
77,3
79
40
,697
,918
41,2
46,3
01
42
,094
,258
43,2
38,7
26
43
,948
,808
45,9
92,2
33
45
,788
,145
Net
(Exp
ense
) Rev
enue
Gov
ernm
enta
l Act
iviti
es(6
8,35
3,14
6)
(6
4,71
7,12
9)
(6
5,83
3,66
3)
(7
1,05
9,87
4)
(6
9,88
7,24
0)
(6
9,93
7,89
7)
(6
9,54
8,24
0)
(7
2,23
5,30
1)
(7
5,93
6,23
8)
(7
4,82
9,98
2)
Bu
sine
ss-T
ype
Activ
ities
368,
508
392,
696
415,
408
395,
741
351,
302
229,
125
(1,0
64,6
83)
43
0,23
1
(1
33,7
66)
447,
159
Tota
l Prim
ary
Gov
ernm
ent N
et (E
xpen
se) R
even
ue(6
7,98
4,63
8)$
(6
4,32
4,43
3)$
(6
5,41
8,25
5)$
(7
0,66
4,13
3)$
(6
9,53
5,93
8)$
(6
9,70
8,77
2)$
(7
0,61
2,92
3)$
(7
1,80
5,07
0)$
(7
6,07
0,00
4)$
(7
4,38
2,82
3)$
Gen
eral
Rev
enue
s an
d Tr
ansf
ers:
Gov
ernm
enta
l Act
iviti
es72
,648
,252
72,0
09,0
71
72
,267
,772
73,0
75,5
82
74
,876
,578
75,4
88,2
03
74
,281
,829
76,5
09,1
93
77
,175
,219
78,8
34,4
65
Bu
sine
ss-T
ype
Activ
ities
(293
,886
)
(2
59,6
65)
(342
,151
)
(2
50,0
06)
(252
,282
)
(3
62,3
68)
(209
,876
)
(5
34,1
20)
(338
,055
)
(1
84,8
61)
Tota
l Prim
ary
Gov
ernm
ent
Gen
eral
Rev
enue
s an
d Tr
ansf
ers:
72,3
54,3
66
71
,749
,406
71,9
25,6
21
72
,825
,576
74,6
24,2
96
75
,125
,835
74,0
71,9
53
75
,975
,073
76,8
37,1
64
78
,649
,604
Cha
nge
in N
et P
ositi
onG
over
nmen
tal A
ctiv
ities
4,29
5,10
6
7,29
1,94
2
6,43
4,10
9
2,01
5,70
8
4,98
9,33
8
5,55
0,30
6
4,73
3,58
9
4,27
3,89
2
1,23
8,98
1
4,00
4,48
3
Busi
ness
-Typ
e Ac
tiviti
es74
,622
13
3,03
1
73
,257
14
5,73
5
99
,020
(1
33,2
43)
(1,2
74,5
59)
(1
03,8
89)
(471
,821
)
26
2,29
8
To
tal P
rimar
y G
over
nmen
t Cha
nge
in N
et P
ositi
on4,
369,
728
$
7,
424,
973
$
6,
507,
366
$
2,
161,
443
$
5,
088,
358
$
5,
417,
063
$
3,
459,
030
$
4,
170,
003
$
76
7,16
0$
4,
266,
781
$
Net
Pos
ition
, Beg
inni
ngG
over
nmen
tal A
ctiv
ities
92,6
24,6
53
96
,919
,759
104,
211,
701
110,
645,
810
112,
661,
518
17,8
97,8
44
23
,448
,150
28,1
81,7
39
(6
5,61
0,95
0)
(6
4,37
1,96
9)
Bu
sine
ss-T
ype
Activ
ities
3,01
6,11
5
3,09
0,73
7
3,22
3,76
8
3,29
7,02
5
3,34
3,74
0
1,67
9,93
0
1,54
6,68
7
272,
128
(2,6
67,1
05)
(3
,138
,926
)
Tota
l Prim
ary
Gov
ernm
ent N
et P
ositi
on, B
egin
ning
95,6
40,7
68
10
0,01
0,49
6
10
7,43
5,46
9
11
3,94
2,83
5
11
6,00
5,25
8
19
,577
,774
24,9
94,8
37
28
,453
,867
(68,
278,
055)
(67,
510,
895)
Net
Pos
ition
, End
ing
Gov
ernm
enta
l Act
iviti
es96
,919
,759
104,
211,
701
110,
645,
810
112,
661,
518
117,
650,
856
23,4
48,1
50
28
,181
,739
32,4
55,6
31
(6
4,37
1,96
9)
(6
0,36
7,48
6)
Bu
sine
ss-T
ype
Activ
ities
3,09
0,73
7
3,22
3,76
8
3,29
7,02
5
3,44
2,76
0
3,44
2,76
0
1,54
6,68
7
272,
128
168,
239
(3,1
38,9
26)
(2
,876
,628
)
Tota
l Prim
ary
Gov
ernm
ent N
et P
ositi
on, E
ndin
g10
0,01
0,49
6$
10
7,43
5,46
9$
11
3,94
2,83
5$
11
6,10
4,27
8$
12
1,09
3,61
6$
24
,994
,837
$
28,4
53,8
67$
32
,623
,870
$
(67,
510,
895)
$
(63,
244,
114)
$
Sour
ce:
The
Scho
ol D
istri
ct o
f Geo
rget
own
Cou
nty
Fina
ncia
l Rec
ords
.
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYC
HAN
GE
IN N
ET P
OSI
TIO
NJU
NE
30, 2
019
(acc
rual
bas
is o
f acc
ount
ing)
115
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Gen
eral
Fun
dR
eser
ved
-$
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Unr
eser
ved
Des
igna
ted
-
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Und
esig
nate
d7,
864,
035
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Tota
l Gen
eral
Fun
d7,
864,
035
-
-
-
-
-
-
-
-
-
Gen
eral
Fun
d**
Non
spen
dabl
e:Pr
epai
d Ite
ms
N/A
559,
833
$
5,
793
$
47,0
55$
6,47
1$
1,
781
$
24,8
13$
27,4
60$
35,1
72$
10,5
49$
Com
mitt
edN
/A15
0,00
0
150,
000
15
0,00
0
150,
000
15
0,00
0
150,
000
15
0,00
0
150,
000
15
0,00
0
Una
ssig
ned
N/A
9,40
8,75
1
11
,160
,552
11
,126
,356
10
,579
,305
10
,423
,457
9,
862,
024
10,2
93,6
43
10,4
63,8
04
10,6
97,6
01
Tota
l Gen
eral
Fun
d-
10
,118
,584
11
,316
,345
11
,323
,411
10
,735
,776
10
,575
,238
10
,036
,837
10
,471
,103
10
,648
,976
10
,858
,150
All O
ther
Gov
ernm
enta
l Fun
dsR
eser
ved
for:
Spec
ial R
even
ue16
,638
N
/AN
/AN
/AN
/AN
/AN
/AN
/AN
/AN
/AD
ebt S
ervi
ce3,
477,
573
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Cap
ital P
roje
cts
6,60
4,59
7
N
/AN
/AN
/AN
/AN
/AN
/AN
/AN
/AN
/ATo
tal A
ll O
ther
Gov
ernm
enta
l Fun
ds10
,098
,808
-
-
-
-
-
-
-
-
-
All O
ther
Gov
ernm
enta
l Fun
ds**
Non
spen
dabl
e:In
vent
orie
sN
/A-
$
-
$
21
,722
$
16
,075
$
-
$
-
$
-
$
-
$
-
$
R
estri
cted
for:
Sum
mer
Fee
ding
N/A
16,6
38
12,1
64
-
-
-
-
-
-
-
Deb
t Ser
vice
N/A
7,06
9,69
4
6,
669,
777
6,52
0,10
9
6,
387,
272
6,98
2,02
8
6,
901,
829
7,99
2,09
7
8,
649,
174
7,63
6,44
1
C
apita
l Pro
ject
sN
/A18
,281
,714
9,
147,
886
5,52
2,75
4
3,
856,
402
2,84
1,97
3
2,
461,
004
8,09
4,31
0
-
3,
436,
428
Una
ssig
ned
N/A
-
-
(5,1
55)
(8,7
78)
(108
,575
)
(4
51,8
12)
(431
,406
)
(2
,276
,106
)
-
Tota
l All
Oth
er G
over
nmen
tal F
unds
-
25,3
68,0
46
15,8
29,8
27
12,0
59,4
30
10,2
50,9
71
9,71
5,42
6
8,
911,
021
15,6
55,0
01
6,37
3,06
8
11
,072
,869
Sour
ce:
The
Scho
ol D
istri
ct o
f Geo
rget
own
Cou
nty
finan
cial
reco
rds.
THE
SCHO
OL
DIST
RICT
OF
GEO
RGET
OW
N CO
UNTY
FUND
BAL
ANCE
S, G
OVE
RNM
ENTA
L FU
NDS
JUNE
30,
201
9(m
odifi
ed a
ccru
al b
asis
of a
ccou
ntin
g)
Not
es: *
*The
201
1 fu
nd b
alan
ces
for t
he G
ener
al F
und
and
all o
ther
Gov
ernm
enta
l Fun
ds a
re re
porte
d ba
sed
on th
e ne
w re
quire
men
ts u
nder
GAS
BS 5
4. T
he fu
nd b
alan
ces
for y
ears
end
ed 2
008-
2010
are
no
t rep
orte
d un
der G
ASBS
54.
116
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Reve
nues
:Ta
xes
Levi
ed/A
sses
sed
by th
e LE
A55
,432
,984
$
55,4
12,6
22$
55,6
30,0
17$
56,2
24,7
56$
55,5
84,0
88$
55
,936
,681
$ 55
,574
,939
$ 56
,022
,802
$
55,5
10,2
74$
56
,652
,029
$ Tu
ition
& F
ees
14,0
34
7,
716
26,9
99
14
,552
15,5
25
56
,365
63,8
06
63
,093
89,0
27
95
,570
Rev
enue
from
Loc
al G
over
nmen
tal U
nits
Oth
er T
han
LEAs
-
-
-
-
1,28
2,96
2
1,
338,
872
1,27
6,34
4
1,
125,
673
1,82
9,91
9
2,
104,
930
Con
tribu
tions
& D
onat
ions
257,
596
43
1,09
2
3,45
1,58
8
11
2,56
0
-
-
-
-
-
-
Inve
stm
ent E
arni
ngs
62,6
45
34
,864
8,33
5
8,
189
11,7
14
19
,147
38,0
96
76
,989
163,
133
27
0,76
5
Oth
er L
ocal
1,54
1,38
9
1,
363,
168
1,42
8,27
8
1,
760,
005
1,71
5,65
2
2,
064,
653
2,71
5,29
0
1,
753,
868
2,01
4,24
3
2,
194,
644
Inte
rgov
ernm
enta
l4,
926
3,
530
3,65
3
3,
651
3,65
4
28,2
32
20
,709
25,5
44
37
,710
44,4
69
St
ate
Sour
ces
36,6
35,3
75
34
,991
,869
39
,019
,412
43
,557
,819
44
,321
,020
45,2
33,4
06
46,2
39,4
81
47,6
37,9
68
50
,153
,112
50,3
37,3
29
Fede
ral S
ourc
es11
,749
,834
14,1
69,7
20
9,62
7,85
7
7,
943,
971
8,28
1,06
1
7,
806,
494
7,57
3,64
0
8,
271,
262
7,89
7,66
3
7,
891,
097
Tota
l Rev
enue
105,
698,
783
10
6,41
4,58
1
109,
196,
139
10
9,62
5,50
3
111,
215,
676
11
2,48
3,85
0
113,
502,
305
11
4,97
7,19
9
117,
695,
081
11
9,59
0,83
3
Expe
nditu
res:
Cur
rent
Inst
ruct
iona
l Ser
vice
s52
,720
,223
52,1
33,6
38
51,5
54,5
49
53,1
02,6
50
53,6
24,7
35
53
,359
,453
53
,535
,782
54
,381
,937
55,3
82,4
65
53
,404
,839
Su
ppor
t Ser
vice
s36
,900
,732
35,2
18,6
34
35,7
14,4
11
38,8
72,9
54
40,0
95,1
99
40
,742
,894
40
,786
,271
41
,307
,612
44,2
37,1
30
46
,069
,736
C
omm
unity
Ser
vice
s17
7,63
8
149,
836
12
8,84
9
121,
449
18
0,43
2
41,4
54
55
,301
43,9
68
10
7,33
3
135,
714
In
terg
over
nmen
tal
160,
780
11
4,98
5
284,
875
1,
445,
688
1,66
6,47
5
1,
751,
373
1,81
8,46
2
2,
154,
829
2,20
0,31
4
2,
885,
575
Deb
t ser
vice
Lega
l Ser
vice
s19
,182
299,
100
27
2,38
9
68,0
03
50
,491
57,9
62
20
,975
106,
200
11
0,00
0
131,
500
O
ther
Pro
fess
iona
l and
Tec
hnic
al S
ervi
ces
-
-
-
-
-
-
-
11
4,40
2
92,6
38
20
0,01
9
Prin
cipa
l Ret
irem
ent
10,3
54,3
41
10
,739
,341
12
,912
,340
12
,698
,606
12
,969
,544
12,8
29,4
81
13,6
65,0
00
13,1
50,0
00
13
,480
,000
14,0
45,0
00
Inte
rest
and
Fis
cal C
harg
es4,
940,
047
5,09
3,33
8
4,
247,
240
4,38
5,37
1
4,
112,
536
3,67
8,96
2
3,
411,
474
2,95
5,43
5
3,
220,
333
4,60
9,16
0
C
apita
l Out
lay
4,08
9
9,01
0,44
1
16
,033
,079
8,
978,
809
5,72
0,73
5
5,
896,
644
6,22
0,99
3
4,
382,
924
14,3
24,4
84
53
,402
,986
O
ther
Obj
ects
5,52
5,04
9
7,
814
159,
079
3,
100
5,00
6
4,70
5
7,
061
7,91
1
7,47
5
7,51
5
To
tal E
xpen
ditu
res
110,
802,
081
11
2,76
7,12
7
121,
306,
811
11
9,67
6,63
0
118,
425,
153
11
8,36
2,92
8
119,
521,
319
11
8,60
5,21
8
133,
162,
172
17
4,89
2,04
4
Exce
ss (d
efic
ienc
y) o
f Rev
enue
s O
ver (
Und
er) E
xpen
ditu
res
(5,1
03,2
98)
(6,3
52,5
46)
(12,
110,
672)
(1
0,05
1,12
7)
(7,2
09,4
77)
(5,8
79,0
78)
(6,0
19,0
14)
(3,6
28,0
19)
(15,
467,
091)
(5
5,30
1,21
1)
Oth
er F
inan
cing
Sou
rces
(Use
s):
Sale
of C
apita
l Ass
ets
54,2
19
13
,527
27,3
96
30
,556
-
45
,401
20,1
63
66
,715
50,7
76
38
,170
Prem
ium
on
Bond
s So
ld19
,182
203,
564
8,
246,
605
7,23
4
13
5,81
8
425,
685
76
,844
1,20
5,39
1
1,
474,
200
4,98
6,47
8
Pr
ocee
ds fr
om R
efun
ding
Deb
t-
-
56
,600
,000
-
-
-
-
-
-
-
Issu
ance
of G
ener
al O
blig
atio
n Bo
nds
2,10
0,00
0
23
,400
,000
3,
000,
000
6,00
0,00
0
4,
350,
000
4,35
0,00
0
4,
400,
000
9,00
0,00
0
4,
500,
000
55,0
00,0
00
Paym
ent t
o R
efun
ded
Deb
t Esc
row
Age
nts
-
-
(64,
444,
450)
-
-
-
-
-
-
-
Proc
eeds
from
Lon
g-Te
rm N
otes
21,0
55
-
-
-
-
-
-
-
-
-
Tran
sfer
s In
2,10
4,95
8
2,
341,
542
2,10
0,54
6
1,
932,
124
2,51
0,66
0
2,
560,
854
2,50
6,65
7
3,
286,
439
3,07
3,98
9
3,
967,
432
Tran
sfer
s O
ut(1
,801
,533
)
(2
,082
,300
)
(1
,759
,883
)
(1
,682
,118
)
(2
,258
,378
)
(2
,198
,945
)
(2
,296
,781
)
(2
,752
,280
)
(2
,735
,934
)
(3
,781
,894
)
To
tal O
ther
Fin
anci
ng S
ourc
es (U
ses)
2,49
7,88
1
23
,876
,333
3,
770,
214
6,28
7,79
6
4,
738,
100
5,18
2,99
5
4,
706,
883
10,8
06,2
65
6,
363,
031
60,2
10,1
86
Net
Cha
nge
in F
und
Bala
nces
(2,6
05,4
17)
$
17,5
23,7
87$
(8,3
40,4
58)
$
(3,7
63,3
31)
$
(2,4
71,3
77)
$
(696
,083
)$
(1,3
12,1
31)
$
7,17
8,24
6$
(9
,104
,060
)$
4,
908,
975
$
Deb
t ser
vice
as
a Pe
rcen
tage
of
Non
capi
tal E
xpen
ditu
res
13.8
0%15
.26%
16.3
0%15
.43%
15.1
6%14
.68%
15.0
7%14
.10%
14.0
5%15
.35%
Sour
ce:
The
Scho
ol D
istri
ct o
f Geo
rget
own
Cou
nty
finan
cial
reco
rds.
THE
SCHO
OL
DIST
RICT
OF
GEO
RGET
OW
N CO
UNTY
CHAN
GES
IN F
UND
BALA
NCES
, GO
VERN
MEN
TAL
FUND
SJU
NE 3
0, 2
019
(mod
ified
acc
rual
bas
is o
f acc
ount
ing)
117
Estimated AssessedTotal Taxable Total Actual Value as a
Tax Real Assessed Direct Taxable Percentage ofYear Property Personal Manufacturers Value Tax Rate Value Actual Value
2009 487,149,455 36,816,762 50,862,650 574,828,867 125.9 10,584,909,890 5.43%
2010 466,127,581 34,821,290 58,184,900 559,133,771 133.4 10,316,908,148 5.42%
2011 462,670,610 37,705,136 57,766,820 558,142,566 133.4 10,287,255,235 5.43%
2012 463,288,210 39,378,780 61,030,790 563,697,780 133.4 10,328,040,831 5.46%
2013 459,150,017 90,243,488 17,746,430 567,139,935 133.4 10,372,711,571 5.47%
2014 466,505,110 80,201,380 25,538,060 572,244,550 133.4 10,484,548,241 5.46%
2015 460,347,878 83,295,800 25,721,930 569,365,608 135.5 10,455,487,766 5.45%
2016 464,786,321 87,818,517 26,754,020 579,358,858 135.5 10,643,511,566 5.44%
2017 470,291,210 88,051,940 24,316,900 582,660,050 135.5 10,769,413,430 5.41%
2018 476,724,387 87,123,410 22,999,500 586,847,297 138.2 10,888,364,923 5.39%
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYASSESSED VALUE AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTYLAST TEN YEARS
Source: Georgetown County Auditor's Office
118
School Districtof Georgetown
Georgetown Georgetown Town of City of CountyFiscal Year Tax Year County County Andrews Georgetown Fire Districts
2010 2009 49.2 121.7 130.5 99.0 25.7
2011 2010 49.2 125.9 130.5 98.5 25.7
2012 2011 52.9 133.4 130.5 87.0 26.2
2013 2012 52.9 133.4 130.5 57.0 26.2
2014 2013 53.9 133.4 130.5 87.0 28.1
2015 2014 54.9 133.4 130.5 87.0 28.7
2016 2015 57.4 133.4 133.3 93.0 29.4
2017 2016 58.0 135.5 137.0 97.0 29.8
2018 2017 59.0 135.5 137.0 99.0 29.8
2019 2018 62.1 138.2 137.0 99.0 31.1
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYDIRECT AND OVERLAPPING PROPERTY TAX RATESLAST TEN TAX YEARS(rate per $1 of assessed value)
Source: Georgetown County Auditor's Office
119
Percent of Percent ofTaxable District's Total Taxable District's Total
Assessed Taxable Assessed TaxableTaxpayer Value Value Value Value
International Paper Company 10,073,148$ 1.72% 15,414,794$ 2.68%
Santee Electric Co-Op., Inc. 4,345,390 0.74% 3,412,610 0.59%
NHI-REIT of Seaside LLC 1,453,284 0.25% - -
Interfor US Inc. 1,139,080 0.19% - -
Carmel Development 1,045,808 0.18% - -
Time Warner Cable Southeast LLC 1,032,310 0.18% - -
Liberty Steel Georgetown, Inc. 993,550 0.17% - -
Frontier Communications (Verizon) 865,990 0.15% 2,762,520 0.48%
Red Mountain Timber Co III LLC 831,458 0.14% 1,061,504 0.18%
Ponderosa, Inc. 826,732 0.14% 875,502 0.15%
Mittal Steel USA - - 1,894,880 0.33%
Health Care REIT Inc. - - 943,014 0.16%
3V Chemical Corp. - - 897,360 0.16%
Myrtle Beach National Golf, Inc. - - 881,118 0.15%
Meadwestvaco Forestry - - 641,179 0.11%
22,606,750$ 3.86% 28,784,481$ 4.99%
Source: Georgetown County Auditor's Office
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYPRINCIPAL PROPERTY TAXPAYERSCURRENT YEAR AND NINE YEARS AGO
December 31, December 31,2018 2009
120
Fiscal Total Tax Levy CollectionsYear Ended Tax for the Fiscal Percentage in Subsequent Percentage
June 30, Year Year (1) Amount of Levy Years Amount of Levy
2010 2009 72,505,705$ 69,767,217$ 96.22% 1,607,885$ 71,365,502$ 98.43%
2011 2010 72,313,851 70,223,107 97.11% 1,382,679 71,597,541 99.01%
2012 2011 71,534,514 69,250,186 96.81% 1,406,863 70,657,049 98.77%
2013 2012 72,842,519 71,107,888 97.62% 1,042,647 72,150,535 99.05%
2014 2013 73,663,808 72,070,594 97.84% 990,480 73,061,074 99.18%
2015 2014 74,284,334 73,271,666 98.64% 1,009,472 74,281,138 100.00%
2016 2015 73,421,308 72,486,320 98.73% 697,874 73,184,194 99.68%
2017 2016 75,067,825 65,130,056 86.76% 809,647 65,939,703 87.84%
2018 2017 75,634,827 73,457,096 97.12% 1,690,724 75,147,820 99.36%
2019 2018 51,775,822 50,784,350 98.09% - 50,784,350 98.09%
Source: (1) Georgetown County Auditor's Office; (2) Georgetown County Treasurer's Office
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYPROPERTY TAX LEVIES AND COLLECTIONSLAST TEN FISCAL YEARS
Net Tax Collections (2) Total Collections to Date
121
Out
stan
ding
Gen
eral
Deb
t As
Fisc
alG
ener
alB
onde
d D
ebt a
sB
onde
dB
onde
dPe
rcen
tage
Deb
tPe
rcen
tage
Deb
tYe
ar E
nded
Obl
igat
ion
Perc
enta
ge o
fD
ebt P
erD
ebt P
erTo
tal
of T
axab
lePe
rof
Per
sona
lPe
rJu
ne 3
0,B
onds
Taxa
ble
Valu
eC
apita
Stud
ent
Deb
tVa
lue
Cap
itaIn
com
eSt
uden
t
2010
97,2
67,6
64$
16
.92%
1,60
2$
10
,295
$ 97
,267
,664
$
16.9
2%1,
602
$ N
ot a
vaila
ble
10,2
95$
2011
109,
803,
032
19.6
4%1,
825
11,7
20
109,
803,
032
19.6
4%1,
825
N
ot a
vaila
ble
11,7
20
2012
102,
959,
307
18.4
5%1,
709
11,1
24
102,
959,
307
18.4
5%1,
709
N
ot a
vaila
ble
11,1
24
2013
95,2
30,7
93
16
.89%
1,58
2
10
,410
95
,230
,793
16.8
9%1,
582
N
ot a
vaila
ble
10,4
10
2014
85,6
75,0
82
15
.11%
1,41
8
9,
239
85,6
75,0
82
15
.11%
1,41
8
Not
ava
ilabl
e9,
239
2015
76,5
37,7
64
13
.38%
1,25
9
8,
406
76,5
37,7
64
13
.38%
1,25
9
Not
ava
ilabl
e8,
406
2016
66,1
77,6
63
11
.62%
1,08
0
7,
317
66,1
77,6
63
11
.62%
1,08
0
Not
ava
ilabl
e7,
317
2017
61,5
64,2
41
10
.63%
1,00
3
6,
545
61,5
64,2
41
10
.63%
1,00
3
Not
ava
ilabl
e6,
545
2018
51,5
66,0
59
8.
85%
837
5,
504
51,5
66,0
59
8.
85%
837
Not
ava
ilabl
e5,
504
2019
94,5
64,1
36
16
.11%
1,51
9
10
,595
94
,564
,136
16.1
1%1,
519
N
ot a
vaila
ble
10,5
95
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYR
ATIO
S O
F O
UTS
TAN
DIN
G D
EBT
LAST
TEN
FIS
CAL
YEA
RS
Not
e: D
etai
l reg
ardi
ng th
e D
istri
ct's
out
stan
ding
deb
t can
be
foun
d in
the
note
s to
the
finan
cial
sta
tem
ents
.
Sour
ce:
The
Scho
ol D
istri
ct o
f Geo
rget
own
Cou
nty
finan
cial
reco
rds.
122
Out
stan
ding
Perc
enta
ge o
fFi
scal
Gen
eral
Less
Net
Estim
ated
Act
ual
Year
End
edO
blig
atio
nD
ebt
Gen
eral
Taxa
ble
Valu
ePe
rJu
ne 3
0,B
onds
Tota
lSe
rvic
eB
onde
d D
ebt
of P
rope
rty
Cap
ita
2010
97,2
67,6
64$
97
,267
,664
$
6,60
4,59
7$
90
,663
,067
$
0.86
%1,
494
$
2011
109,
803,
032
109,
803,
032
7,
069,
694
102,
733,
338
1.
00%
1,70
8
2012
102,
959,
307
102,
959,
307
6,
669,
777
96,2
89,5
30
0.
94%
1,59
9
2013
95,2
30,7
93
95
,230
,793
6,52
0,10
9
88
,710
,684
0.86
%1,
474
2014
85,6
75,0
82
85
,675
,082
6,38
7,27
2
79
,287
,810
0.76
%1,
312
2015
76,5
37,7
64
76
,537
,764
6,98
2,03
0
69
,555
,734
0.66
%1,
145
2016
66,1
77,6
63
66
,177
,663
6,90
1,82
9
59
,275
,834
0.57
%96
7
2017
61,5
64,2
41
61
,564
,241
7,99
2,09
7
53
,572
,144
0.50
%87
3
2018
51,5
66,0
59
51
,566
,059
8,64
9,17
4
42
,916
,885
0.40
%69
7
2019
94,5
64,1
36
94
,564
,136
7,97
6,63
3
86
,587
,503
0.80
%1,
391
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYR
ATIO
S O
F G
ENER
AL B
ON
DED
DEB
T O
UTS
TAN
DIN
GLA
ST T
EN F
ISC
AL Y
EAR
S
Not
e: D
etai
l reg
ardi
ng th
e D
istri
ct's
out
stan
ding
deb
t can
be
foun
d in
the
note
s to
the
finan
cial
sta
tem
ents
.
Sour
ce:
The
Scho
ol D
istri
ct o
f Geo
rget
own
Cou
nty
finan
cial
reco
rds.
123
Estimated Share of
Estimated Direct andDebt Percentage Overlapping
Outstanding Applicable Debt
Georgetown County (1) 73,596,168$ 100.0% 73,596,168$
Town of Andrews (2) 3,546,131 100.0% 3,546,131$
Subtotal, Overlapping Debt 77,142,299
District Direct Debt (3) 89,385,000
Total Direct and Overlapping Debt 166,527,299$
Method used to determine the overlap is that 100% of residents overlap with the other districts depicted.
3-Debt Service Records maintained by the District Business Services Office
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYDIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITIES DEBTAS OF JUNE 30, 2019
Sources:1-Georgetown County Treasurer's Office2-Town of Andrews
124
Tota
l Ass
esse
d Va
lue
at J
une
30, 2
019
586,
847,
297
$
Deb
t lim
it - 8
% o
f ass
esse
d va
lue
46,9
47,7
84
Tota
l am
ount
of d
ebt a
pplic
able
to d
ebt l
imit
33,3
80,0
00
Lega
l deb
t mar
gin
13,5
67,7
84
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Deb
t Lim
it45
,986
,309
$
44,7
30,7
02$
44,6
51,4
05$
45,0
95,8
22$
45,3
71,1
95$
45,7
79,5
64$
45,5
49,2
49$
46,3
48,7
09$
46,6
12,8
04$
46,9
47,7
84$
Tota
l net
deb
t app
licab
le to
lim
it23
,592
,664
41,8
68,0
32
37,9
32,0
00
37,9
31,0
00
36,1
15,0
00
34,3
55,0
00
32,3
35,0
00
36,3
80,0
00
36,8
75,0
00
33,3
80,0
00
Lega
l deb
t mar
gin
22,3
93,6
45
2,
862,
670
6,71
9,40
5
7,
164,
822
9,25
6,19
5
11
,424
,564
13
,214
,249
9,
968,
709
9,73
7,80
4
13
,567
,784
Tota
l net
deb
t app
licab
le to
the
lim
it as
a p
erce
ntag
e of
deb
t lim
it51
.30%
93.6
0%84
.95%
84.1
1%79
.60%
75.0
4%70
.99%
78.4
9%79
.11%
71.1
0%
A. D
ebt L
imit
Sour
ce:
Geo
rget
own
Cou
nty
Audi
tor's
Offi
ce
THE
SCHO
OL
DIST
RICT
OF
GEO
RGET
OW
N CO
UNTY
LEG
AL D
EBT
MAR
GIN
INFO
RMAT
ION
LAST
TEN
FIS
CAL
YEAR
S
Fisc
al Y
ear
Artic
le X
, Sec
tion
15 o
f the
Con
stitu
tion
of th
e St
ate
of S
outh
Car
olin
a, 1
985,
em
pow
ers
each
sch
ool d
istri
ct o
f the
Sta
te to
incu
r gen
eral
obl
igat
ion
debt
in s
uch
a m
anne
r and
upo
n su
ch te
rms
and
cond
ition
s as
the
Gen
eral
Ass
embl
y sh
all p
resc
ribe
by la
w. A
fter N
ovem
ber 3
0, 1
982,
eac
h sc
hool
dis
trict
may
incu
r gen
eral
obl
igat
ion
debt
, with
out a
n el
ectio
n an
d up
on s
uch
term
s an
d co
nditi
ons
as th
e G
ener
al A
ssem
bly
may
pr
escr
ibe,
in a
n am
ount
not
exc
eedi
ng 8
per
cent
of t
he a
sses
sed
valu
e of
all
taxa
ble
prop
erty
of s
uch
scho
ol d
istri
ct.
Bond
ed in
debt
edne
ss e
xist
ing
on N
ovem
ber 3
0, 1
982,
and
bon
ded
inde
bted
ness
aut
horiz
ed b
y a
maj
ority
vot
e of
the
qual
ified
ele
ctor
s of
the
Scho
ol D
istri
ct v
otin
g in
a re
fere
ndum
will
not b
e co
nsid
ered
in th
e co
mpu
tatio
n of
the
8 pe
rcen
t lim
itatio
n.
125
EstimatedGeorgetown Georgetown Georgetown Georgetown Construction
Year Tax County County County County WithinEnded Year Estimated Total Personal Per Capita Unemployment Georgetown School
June 30, Dec. 31, Population (1) Income (1) Income (2) Rate (3) County (4) Enrollment (5)
2010 2009 60,703 2,230,074,000$ 36,738$ 12.3% 2,713,168$ 9,448
2011 2010 60,158 2,245,630,000 37,328 11.3% 3,831,588 9,369
2012 2011 60,236 2,303,848,000 38,403 8.2% 4,763,102 9,256
2013 2012 60,189 2,341,605,000 38,904 8.1% 4,609,778 9,148
2014 2013 60,440 2,418,012,000 39,788 8.2% 5,790,417 9,273
2015 2014 60,773 2,445,064,000 39,988 7.9% 5,191,553 9,105
2016 2015 61,298 2,590,733,000 42,195 8.4% 6,338,604 9,044
2017 2016 61,399 Not Available 44,310 5.1% 7,975,338 9,407
2018 2017 61,607 Not Available Not Available 5.5% 6,783,439 9,369
2019 2018 62,249 Not Available Not Available 5.2% 8,241,289 8,925
(3) USDA Economic Research Service(4) Georgetown County Auditor's Office(5) Georgetown County School District's Records
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYDEMOGRAPHIC AND ECONOMIC STATISTICSLAST TEN FISCAL YEARS
Sources:(1) U.S. Census Bureau(2) Bureau of Economic Analysis, U.S. Department of Commerce
126
Percent of Percent ofApproximate District's Total Approximate District's TotalNumbers of Estimated Numbers of Estimated
Employer Employees Population Employees Population
Georgetown Hospital System 1,790 2.87% 1,600 2.64%
Georgetown County School District 1,335 2.17% 1,450 2.39%
International Paper 850 1.36% 830 1.37%
Georgetown County 611 0.97% 582 0.96%
SafeRack 325 0.40% Not Available Not Available
Wal-Mart 290 0.46% Not Available Not Available
3V 250 0.29% 183 0.30%
Argu-America 240 0.52% 100 0.16%
Santee Cooper 180 0.39% Not Available Not Available
City of Georgetown 177 0.28% 191 0.31%
Screen Tight Not Available Not Available 140 0.23%
Sid Harvey Not Available Not Available 98 0.16%
American Gypsum Not Available Not Available 84 0.14%
Totals 6,048 9.71% 5,258 8.66%
Source: Georgetown County Economic Development and each employer.
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYPRINCIPAL EMPLOYERSCURRENT YEAR AND NINE YEARS AGO
JUNE 30, 2019 JUNE 30, 2010
127
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Supe
rvis
ory
Non
inst
ruct
iona
l adm
inis
trato
r2.
002.
002.
00
2.
00
2.
00
3.
00
3.
00
3.
00
3.
00
3.
00
C
onsu
ltant
s/su
perv
isor
s of
inst
ruct
ion
3.00
3.00
3.00
3.00
3.00
3.00
3.00
4.00
4.00
4.00
Coo
rdin
ator
21.5
020
.60
21.1
0
21.5
0
25.0
0
35.1
4
33.2
8
28.9
4
26.1
0
29.0
0
Supe
rvis
ors/
dire
ctor
s (n
onin
stru
ctio
nal)
25.4
923
.00
23.5
0
25.5
0
24.2
0
23.0
0
26.0
0
25.0
0
23.4
8
26.6
0
Prin
cipa
l18
.00
18.0
018
.00
18
.00
18
.00
18
.00
18
.00
18
.00
18
.00
20
.00
As
sist
ant p
rinci
pal
23.0
020
.78
18.7
8
17.0
0
17.0
0
16.0
0
16.0
0
16.0
0
16.0
0
17.0
0
Tota
l sup
ervi
sory
92.9
987
.38
86.3
8
87.0
0
89.2
0
98.1
4
99.2
8
94.9
4
90.5
8
99.6
0
Inst
ruct
ion
Elem
enta
ry c
lass
room
teac
hers
411.
2640
2.91
388.
55
387.
68
416.
29
408.
05
405.
81
392.
97
381.
78
371.
59
Seco
ndar
y cl
assr
oom
teac
hers
158.
7416
1.42
150.
09
150.
37
133.
74
137.
81
134.
91
138.
60
131.
56
123.
42
Voca
tiona
l tea
cher
s30
.47
28.8
230
.27
31
.77
28
.92
31
.32
32
.90
27
.35
27
.22
26
.85
Ex
cept
iona
l pro
gram
s78
.19
80.0
072
.90
74
.60
75
.51
74
.90
72
.60
77
.10
75
.74
76
.10
Ea
rly c
hild
hood
pro
gram
s14
.00
14.0
011
.00
27
.42
21
.00
24
.00
26
.00
23
.50
23
.00
20
.00
O
ther
teac
hers
(adu
lt)2.
803.
003.
77
4.
00
5.
00
3.
00
3.
00
3.
50
3.
50
3.
20
O
ther
pro
fess
iona
ls (i
nstru
ctio
nal)
17.1
916
.72
12.5
0
12.5
0
13.1
9
13.2
9
10.9
2
13.9
3
11.4
1
12.5
5
Inst
ruct
iona
l ass
ista
nts
129.
7411
7.66
111.
20
116.
37
116.
80
116.
95
117.
36
118.
90
116.
25
113.
52
Tota
l ins
truc
tion
842.
3982
4.53
780.
28
804.
71
810.
45
809.
32
803.
50
795.
85
770.
46
747.
23
Stud
ent s
ervi
ces
Gui
danc
e co
unse
lors
26.5
027
.50
28.0
3
29.0
0
29.5
0
28.5
0
29.0
0
29.4
5
29.0
6
31.5
3
Psyc
holo
gist
s10
.10
11.2
08.
20
13
.20
10
.60
10
.80
11
.00
10
.00
11
.00
11
.00
Li
brar
ians
18.0
018
.00
18.0
0
17.0
0
17.0
0
17.0
0
17.0
0
17.0
0
17.0
0
17.0
0
Oth
er p
rofe
ssio
nals
(non
inst
ruct
iona
l)36
.81
25.5
020
.00
20
.00
20
.00
20
.00
21
.00
21
.00
21
.00
23
.06
To
tal s
tude
nt s
ervi
ces
91.4
182
.20
74.2
3
79.2
0
77.1
0
76.3
0
78.0
0
77.4
5
78.0
6
82.5
9
Supp
ort a
nd a
dmin
istr
atio
nC
leric
al/s
ecre
taria
l14
3.68
142.
5514
3.55
14
2.55
13
7.86
12
3.31
12
6.33
11
8.99
12
6.15
12
7.50
Se
rvic
e w
orke
rs30
8.32
306.
3828
7.73
29
2.43
29
3.60
30
5.69
29
0.48
29
1.28
27
6.88
26
9.97
Te
chni
cian
7.00
7.00
7.00
7.00
8.00
8.00
10.0
0
10.0
0
11.0
0
9.00
Tota
l sup
port
and
adm
inis
trat
ion
459.
0045
5.93
438.
28
441.
98
439.
46
437.
00
426.
81
420.
27
414.
03
406.
47
Tota
l FTE
by
type
1485
.79
1450
.04
1379
.17
1412
.89
1416
.21
1420
.76
1407
.59
1388
.51
1353
.13
1335
.89
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYFU
LL-T
IME
EQU
IVAL
ENTS
(FTE
) EM
PLO
YEES
BY
TYPE
LAST
TEN
FIS
CAL
YEA
RS
Sour
ce: G
eorg
etow
n C
ount
y Sc
hool
Dis
trict
Rec
ords
128
Grade 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Kindergarten 21.00 21.00 21.00 21.00 21.00 21.00 21.00 21.00 21.00 21.00
1 15.00 15.00 15.00 15.00 15.00 15.00 15.00 15.00 18.00 18.00
2 21.00 21.00 21.00 21.00 21.00 21.00 21.00 21.00 21.00 21.00
3 21.00 21.00 21.00 21.00 21.00 21.00 21.00 21.00 21.00 21.00
4 21.00 21.00 21.00 21.00 21.00 21.00 21.00 21.00 21.00 21.00
5 21.00 21.00 21.00 21.00 21.00 21.00 21.00 21.00 21.00 21.00
6 20.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00 21.00 21.00
7 20.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00 21.00 21.00
8 20.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00 21.00 21.00
9 * 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00
10 * 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00
11 * 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00
12 * 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00 17.00
* 9 - 12 grades: greater than 600 students - 18:1
average - 17:1
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYNUMBER OF STUDENTS PER TEACHERLAST TEN SCHOOL YEARS
Source: Georgetown County School District RecordsNote: The amounts above represent budgeted ratios for the general fund.
less than 600 students - 16:1
129
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Number of schools participating in:Lunch - regular schedule 18 18 18 18 18 18 18 18 18 18 Lunch - year round 18 18 18 18 18 18 18 18 18 18 Breakfast program 18 18 18 18 18 18 18 18 18 18
Student lunches served:Free 837,516 849,770 836,491 803,546 743,834 888,289 879,622 841,143 818,142 779,145 Reduced 89,600 68,694 80,320 73,357 65,763 11,409 9,051 8,039 8,411 8,757 Fully paid 327,504 302,458 261,109 204,609 192,600 147,859 130,634 127,113 124,854 124,852
Total 1,254,620 1,220,922 1,177,920 1,081,512 1,002,197 1,047,557 1,019,307 976,295 951,407 912,754
Adult lunches served 37,203 30,178 31,688 31,024 26,082 26,884 25,098 21,838 23,098 20,441
Student breakfasts served:Free 579,540 591,012 592,602 602,266 548,954 583,860 568,608 566,289 557,232 566,332 Reduced 47,550 40,518 46,480 46,167 40,693 3,412 3,642 2,888 2,511 4,202 Fully paid 98,727 104,424 85,562 83,580 82,333 68,179 59,588 60,703 59,904 61,853
Total 725,817 735,954 724,644 732,013 671,980 655,451 631,838 629,880 619,647 632,387
Adult breakfast served 954 1,479 1,609
Number of serving days:Regular schedule 178 178 178 177 173 177 178 173 172 172 Year-round schedule* 175 180 180 174 172 172 Weighted average 178.00 178.00 178.00 177.00 173.00 177.00 177.00 177.00 172.00 172.00
Average daily participation:Student lunch 7,048 6,859 6,618 6,110 5,793 5,975 5,726 5,557 5,350 5,289 Adult lunch 209 470 178 175 151 152 141 126 134 119 Student breakfast 4,032 4,089 4,027 4,067 3,884 3,641 3,510 3,581 3,477 3,639
135 Day Enrollment 9,448 9,369 9,256 9,148 9,273 9,105 9,044 9,407 9,369 8,925
Percentage of students dailyeating school lunch 74.60% 73.21% 71.50% 66.79% 62.47% 65.62% 63.31% 59.07% 57.10% 59.26%
Percentage of students dailyeating school lunch based on attendance 68.85% 66.08% 64.10%
October 1 count of benefits:Students on free lunch 5,926 5,921 5,885 5,938 5,450 4,376 4,013 3,793 3,986 3,424 Students on reduced lunch 701 481 645 684 571 78 93 82 90 77
Percentage of students on: Free lunch 62.72% 63.20% 63.58% 60.75% 59.90% 48.00% 44.37% 40.32% 42.54% 38.36%Reduced lunch 7.42% 5.13% 6.97% 7.00% 6.00% 1.00% 1.03% 0.87% 0.96% 0.86%
Total 70.14% 68.33% 70.55% 67.75% 65.90% 49.00% 45.40% 41.19% 43.50% 39.22%
Notes:*Year-Round Schedule is for breakfast
(2013-14) Four weather days missed; 2 hr delay, breakfast not served 1st 2 hr delay.(2014-15) One two hour delay.
First Year of 14 schools using Community Eligibility Provision (CEP)(no reduced eligible students at the 14 schools)
(2015-16) 7 days missed due to flood, 3 days forgiven(only 3 direct certification matches for the year)
(2016-17) .5 day early dismissal due to hurricane - no lunch served8 days missed due to hurricane - 5 days forgiven
(2017-18) 0.5 day early dismissal due to hurricane - no lunch served0.5 day early dismissal on October 27th - no lunch served2x 2 hour delay starting, no breakfast served7 days missed due to hurricane and snow
(2018-19) Missed 11 days due to Hurricane Florence and potential flooding issues. Made up 4 days in the schedule with abreveated schedules affecting participation and revenue.
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYNUTRITION SERVICES - FACTS AND FIGURESLAST TEN FISCAL YEARS
Source: Georgetown County School District Records
130
Number of AverageEducation Salary Ranges Teachers Salary
Bachelor's Degree $34,432 - $60,751 168 40,854$
Bachelor's Degree Plus 18 Hrs $35,969 - $62,681 48 48,261
Master's Degree $39,401 - $68,218 280 51,834
Master's Degree Plus 30 Hrs $42,643 - $72,279 110 60,011
Doctor's Degree $46,484 - $82,582 17 73,626
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYTEACHERS SALARY RANGESJUNE 30, 2019
Source: The School District of Georgetown County financial records.
131
Func
tion
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Inst
ruct
ion
40,8
08,7
24$
38,4
89,6
81$
40,7
54,4
68$
43,4
07,1
33$
44,2
97,3
55$
44,2
47,9
13$
45,0
23,7
47$
46,3
04,1
45$
46,8
34,3
97$
45,8
94,4
25$
57.4
3%56
.80%
57.0
0%57
.64%
57.0
3%56
.39%
56.5
1%57
.25%
56.4
9%54
.55%
Supp
ort S
ervi
ces:
Stud
ents
2,97
5,10
1
2,
833,
109
2,81
7,83
4
2,
995,
992
3,27
7,55
7
3,
382,
890
3,46
5,38
4
3,
582,
019
3,72
7,52
2
3,
836,
310
4.19
%4.
18%
3.94
%3.
98%
4.22
%4.
31%
4.35
%4.
43%
4.50
%4.
56%
Inst
ruct
iona
l sta
ff3,
499,
275
3,05
5,63
7
3,
367,
018
3,46
3,04
8
3,
768,
668
3,82
1,81
1
3,
941,
789
3,65
1,95
7
3,
657,
311
3,56
1,25
1
4.
92%
4.51
%4.
71%
4.60
%4.
85%
4.87
%4.
95%
4.52
%4.
41%
4.23
%
Gen
eral
dis
trict
adm
inis
tratio
n79
5,65
8
758,
415
74
1,44
1
689,
000
78
1,30
2
963,
178
92
7,30
2
1,06
2,97
9
1,
152,
424
1,05
1,88
4
1.
12%
1.12
%1.
04%
0.91
%1.
01%
1.23
%1.
16%
1.31
%1.
39%
1.25
%
Scho
ol a
dmin
istra
tion
6,38
2,28
0
6,
367,
767
6,75
9,17
9
7,
035,
861
7,15
1,74
9
7,
148,
543
7,55
6,13
5
7,
475,
831
7,63
6,89
9
7,
843,
462
8.98
%9.
40%
9.45
%9.
34%
9.21
%9.
11%
9.48
%9.
24%
9.21
%9.
32%
Busi
ness
1,35
7,43
8
1,
361,
600
1,44
6,50
7
1,
476,
444
1,43
2,47
5
1,
475,
022
1,53
4,80
3
1,
505,
053
1,62
2,88
3
1,
814,
201
1.91
%2.
01%
2.02
%1.
96%
1.84
%1.
88%
1.93
%1.
86%
1.96
%2.
16%
Ope
ratio
n an
d m
aint
enan
ceof
bui
ldin
gs8,
834,
627
8,85
4,81
7
9,
097,
266
9,41
3,33
1
9,
738,
449
10,0
35,3
94
9,63
5,41
5
9,
605,
660
9,96
6,97
8
10
,165
,635
12
.43%
13.0
7%12
.72%
12.5
0%12
.54%
12.7
9%12
.09%
11.8
8%12
.02%
12.0
8%
Tran
spor
tatio
n2,
546,
587
2,29
1,64
4
2,
248,
141
2,32
3,59
3
2,
332,
839
2,21
7,35
8
2,
178,
047
2,13
3,53
1
2,
092,
440
2,46
4,88
6
3.
58%
3.38
%3.
14%
3.09
%3.
00%
2.83
%2.
73%
2.64
%2.
52%
2.93
%
Cen
tral
2,09
5,04
4
1,
953,
314
2,42
3,55
9
2,
110,
811
2,13
8,57
8
2,
266,
842
2,41
2,97
9
2,
664,
968
3,21
0,99
3
3,
674,
086
2.95
%2.
88%
3.39
%2.
80%
2.75
%2.
89%
3.03
%3.
30%
3.87
%4.
37%
Oth
er s
uppo
rt1,
763,
026
1,79
3,90
0
1,
839,
129
2,39
3,32
0
2,
749,
537
2,90
6,91
5
3,
001,
688
2,88
8,07
0
3,
001,
985
3,83
2,86
7
2.
48%
2.65
%2.
57%
3.18
%3.
54%
3.70
%3.
77%
3.57
%3.
62%
4.56
%
Tota
l71
,057
,760
$ 67
,759
,884
$ 71
,494
,542
$ 75
,308
,533
$ 77
,668
,509
$ 78
,465
,866
$ 79
,677
,289
$ 80
,874
,213
$ 82
,903
,832
$ 84
,139
,007
$
135
Day
Enr
ollm
ent
9,44
8
9,
369
9,25
6
9,
148
9,27
3
9,
105
9,04
4
9,
407
9,36
9
8,
925
Aver
age
Expe
nditu
res
Per P
upil
7,52
1$
7,
232
$
7,72
4$
8,
232
$
8,37
6$
8,
618
$
8,81
0$
8,
597
$
8,84
9$
9,
427
$
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYEX
PEN
DIT
UR
ES B
Y FU
NC
TIO
N -
GEN
ERAL
FU
ND
LAST
TEN
FIS
CAL
YEA
RS
Not
e: T
he to
tals
on
perc
enta
ges
may
not
equ
al a
n ev
en 1
00.0
0% d
ue to
roun
ding
.
Sour
ce:
The
Scho
ol D
istri
ct o
f Geo
rget
own
Cou
nty
finan
cial
reco
rds.
132
Func
tion
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Inst
ruct
ion
4,57
2$
4,31
3$
4,56
6$
4,86
4$
4,96
3$
4,95
8$
5,04
5$
5,18
8$
5,24
8$
5,14
2$
48.5
0%45
.75%
48.4
4%51
.59%
52.6
5%52
.59%
53.5
1%55
.03%
55.6
6%54
.55%
Supp
ort S
ervi
ces:
Stud
ents
333
317
316
336
367
379
388
401
418
430
3.54
%3.
37%
3.35
%3.
56%
3.90
%4.
02%
4.12
%4.
26%
4.43
%4.
56%
Inst
ruct
iona
l sta
ff39
234
237
738
842
242
844
240
941
039
94.
16%
3.63
%4.
00%
4.12
%4.
48%
4.54
%4.
68%
4.34
%4.
35%
4.23
%
Gen
eral
dis
trict
adm
inis
tratio
n89
8583
7788
108
104
119
129
118
0.95
%0.
90%
0.88
%0.
82%
0.93
%1.
14%
1.10
%1.
26%
1.37
%1.
25%
Scho
ol a
dmin
istra
tion
715
713
757
788
801
801
847
838
856
879
7.59
%7.
57%
8.03
%8.
36%
8.50
%8.
50%
8.98
%8.
89%
9.08
%9.
32%
Busi
ness
152
153
162
165
161
165
172
169
182
203
1.61
%1.
62%
1.72
%1.
75%
1.70
%1.
75%
1.82
%1.
79%
1.93
%2.
16%
Ope
ratio
n an
d m
aint
enan
ceof
bui
ldin
gs99
099
21,
019
1,05
51,
091
1,12
41,
080
1,07
61,
117
1,13
910
.50%
10.5
2%10
.81%
11.1
9%11
.57%
11.9
3%11
.45%
11.4
2%11
.85%
12.0
8%
Tran
spor
tatio
n28
525
725
226
026
124
824
423
923
427
63.
03%
2.72
%2.
67%
2.76
%2.
77%
2.64
%2.
59%
2.54
%2.
49%
2.93
%
Cen
tral
235
219
272
237
240
254
270
299
360
412
2.49
%2.
32%
2.88
%2.
51%
2.54
%2.
69%
2.87
%3.
17%
3.82
%4.
37%
Oth
er s
uppo
rt se
rvic
es19
8
20
1
20
6
26
8
30
8
32
6
33
6
32
4
33
6
42
9
2.
10%
2.13
%2.
19%
2.84
%3.
27%
3.45
%3.
57%
3.43
%3.
57%
4.56
%
Tota
l7,
962
$ 7,
592
$ 8,
011
$ 8,
438
$ 8,
702
$ 8,
792
$ 8,
927
$ 9,
062
$ 9,
289
$ 9,
427
$
135
Day
Enr
ollm
ent
9,44
8
9,36
9
9,25
6
9,14
8
9,27
3
9,10
5
9,04
4
9,40
7
9,36
9
8,92
5
Sour
ce: T
he S
choo
l Dis
trict
of G
eorg
etow
n C
ount
y fin
anci
al re
cord
s.
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYEX
PEN
DIT
UR
ES B
Y FU
NC
TIO
N P
ER P
UPI
L - G
ENER
AL F
UN
DLA
ST T
EN F
ISC
AL Y
EAR
S
Not
e: T
he to
tals
on
perc
enta
ges
may
not
equ
al a
n ev
en 1
00.0
0% d
ue to
roun
ding
.
133
2009
-10
2010
-11
2011
-12
2012
-13
2013
-14
2014
-15
2015
-16
2016
-17
2017
-18
2018
-19
Build
ings
:
Elem
enta
ry S
choo
lsN
umbe
r9
9
9
9
9
9
9
9
9
9
Sq
uare
feet
740,
874
751,
246
760,
912
760,
912
760,
912
731,
169
731,
169
731,
169
731,
169
731,
169
Cap
acity
21,1
68
21
,168
21,1
68
21
,168
21,1
68
20
,318
20,3
18
20
,318
20,3
18
20
,318
Enro
llmen
t4,
118
4,
060
3,
885
3,
834
3,
844
3,
815
3,
727
3,
898
3,
937
3,
945
Inte
rmed
iate
Sch
ools
Num
ber
1
1
1
1
1
1
1
1
1
1
Squa
re fe
et82
,000
82,0
00
82
,000
82,0
00
82
,000
82,0
00
82
,000
82,0
00
82
,000
82,0
00
C
apac
ity1,
768
1,
768
1,
768
1,
768
1,
768
1,
768
1,
768
1,
768
1,
768
1,
768
En
rollm
ent
560
576
614
559
560
519
539
540
512
480
Mid
dle
Scho
ols
Num
ber
4
4
4
4
4
4
4
4
4
4
Squa
re fe
et58
4,02
6
58
4,02
6
58
4,02
6
58
4,02
6
58
4,02
6
41
1,82
6
41
1,82
6
41
1,82
6
41
1,82
6
41
1,82
6
C
apac
ity16
,686
16,6
86
16
,686
16,6
86
16
,686
11,7
67
11
,767
11,7
67
11
,767
11,7
67
En
rollm
ent
1,97
5
1,97
2
2,09
3
2,14
1
2,07
2
2,02
7
1,97
2
1,91
3
1,88
9
1,89
2
High
Sch
ools
Num
ber
4
4
4
4
4
4
4
4
4
4
Squa
re fe
et83
6,79
4
83
6,79
4
84
9,62
9
84
9,62
9
84
9,62
9
69
3,47
3
69
3,47
3
69
3,47
3
69
3,47
3
69
3,47
3
C
apac
ity23
,908
23,9
08
24
,275
24,2
75
24
,275
19,8
14
19
,814
19,8
14
19
,814
19,8
14
En
rollm
ent
2,79
6
2,76
1
2,66
1
2,61
4
2,63
6
2,74
4
2,80
6
2,83
8
2,79
1
2,69
5
Spec
ial S
choo
lsN
umbe
r2
2
2
2
2
2
2
2
2
2
Sq
uare
feet
83,5
00
83
,500
83,5
00
83
,500
83,5
00
83
,500
83,5
00
83
,500
83,5
00
83
,500
Cap
acity
2,38
6
2,38
6
2,38
6
2,38
6
2,38
6
2,38
6
2,38
6
2,38
6
2,38
6
2,38
6
Enro
llmen
t54
8
63
0
44
9
49
1
43
1
46
4
30
5
28
3
16
2
16
1
Oth
er B
uild
ings
Num
ber
2
2
2
2
2
2
2
2
2
2
Squa
re fe
et13
2,29
1
13
2,29
1
13
2,29
1
13
2,29
1
13
2,29
1
13
2,29
1
13
2,29
1
13
2,29
1
13
2,29
1
13
2,29
1
C
apac
ity3,
780
3,
780
3,
780
3,
780
3,
780
3,
780
3,
780
3,
780
3,
780
3,
780
En
rollm
ent
-
-
-
-
-
-
-
-
-
-
Tota
l Bui
ldin
gsN
umbe
r22
22
22
22
22
22
22
22
22
22
Sq
uare
feet
2,45
9,48
5
2,46
9,85
7
2,49
2,35
8
2,49
2,35
8
2,49
2,35
8
2,13
4,25
9
2,13
4,25
9
2,13
4,25
9
2,13
4,25
9
2,13
4,25
9
Cap
acity
69,6
96
69
,696
70,0
63
70
,063
70,0
63
59
,833
59,8
33
59
,833
59,8
33
59
,833
Enro
llmen
t9,
997
9,
999
9,
702
9,
639
9,
543
9,
569
9,
349
9,
472
9,
291
9,
173
Num
ber o
f Por
tabl
es14
14
14
14
14
14
14
13
13
13
Acre
s of
Lan
d71
0.30
696.
14
69
9.38
699.
38
69
9.38
700.
27
70
0.27
700.
09
70
0.09
700.
09
Num
ber o
f Veh
icle
s75
75
76
76
72
66
66
75
75
75
Sour
ce:
The
Scho
ol D
istri
ct o
f Geo
rget
own
Cou
nty
finan
cial
reco
rds.
THE
SCHO
OL
DIST
RICT
OF
GEO
RGET
OW
N CO
UNTY
CAPI
TAL
ASSE
T IN
FORM
ATIO
N - S
UMM
ARY
LAST
TEN
FIS
CAL
YEAR
S
(1) 1
35 D
ay E
nrol
lmen
t plu
s H
owar
d Ad
ult E
duca
tion
Cen
ter e
nrol
lmen
t
134
2009
-10
2010
-11
2011
-12
2012
-13
2013
-14
2014
-15
2015
-16
2016
-17
2017
-18
2018
-19
Bui
ldin
gs:
Elem
enta
ry S
choo
lsAn
drew
s (1
983)
Squa
re fe
et11
7,34
3
117,
343
11
7,34
3
117,
343
11
7,34
3
117,
343
11
7,34
3
117,
343
11
7,34
3
117,
343
C
apac
ity3,
353
3,35
3
3,
353
3,35
3
3,
353
3,35
3
3,
353
3,35
3
3,
353
3,35
3
En
rollm
ent
769
74
6
728
74
1
754
72
0
708
77
3
813
80
1
Brow
n's
Ferry
(195
6)Sq
uare
feet
51,5
65
51,5
65
51,5
65
51,5
65
51,5
65
51,5
65
51,5
65
51,5
65
51,5
65
51,5
65
Cap
acity
1,47
3
1,
473
1,47
3
1,
473
1,47
3
1,
473
1,47
3
1,
473
1,47
3
1,
473
Enro
llmen
t16
1
174
15
7
154
15
6
159
15
4
168
17
2
173
D
eep
Cre
ek (1
956)
Squa
re fe
et33
,112
33
,112
33
,112
33
,112
33
,112
-
-
-
-
-
C
apac
ity94
6
946
94
6
946
94
6
-
-
-
-
-
Enro
llmen
tN
ote
1N
ote
1N
ote
1N
ote
1N
ote
1-
-
-
-
-
Ke
nsin
gton
(195
7)Sq
uare
feet
76,2
67
86,6
39
86,6
39
86,6
39
86,6
39
86,6
39
86,6
39
86,6
39
86,6
39
86,6
39
Cap
acity
2,17
9
2,
179
2,17
9
2,
179
2,17
9
2,
179
2,17
9
2,
179
2,17
9
2,
179
Enro
llmen
t72
6
704
67
5
659
62
8
632
59
2
652
62
8
613
M
aryv
ille (1
951)
Squa
re fe
et69
,959
69
,959
74
,919
74
,919
74
,919
74
,919
74
,919
74
,919
74
,919
74
,919
C
apac
ity1,
999
1,99
9
1,
999
1,99
9
1,
999
1,99
9
1,
999
1,99
9
1,
999
1,99
9
En
rollm
ent
557
51
7
508
49
7
476
47
6
500
52
9
525
53
5
McD
onal
d (1
954)
Squa
re fe
et77
,298
77
,298
82
,004
82
,004
82
,004
82
,004
82
,004
82
,004
82
,004
82
,004
C
apac
ity2,
209
2,20
9
2,
209
2,20
9
2,
209
2,20
9
2,
209
2,20
9
2,
209
2,20
9
En
rollm
ent
480
48
4
450
45
5
460
45
4
449
45
8
467
48
3
Plan
ters
ville
(195
0)Sq
uare
feet
39,9
46
39,9
46
39,9
46
39,9
46
39,9
46
39,9
46
39,9
46
39,9
46
39,9
46
39,9
46
Cap
acity
1,14
1
1,
141
1,14
1
1,
141
1,14
1
1,
141
1,14
1
1,
141
1,14
1
1,
141
Enro
llmen
t12
1
97
81
87
88
90
95
92
10
1
87
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYC
APIT
AL A
SSET
INFO
RM
ATIO
N -
DET
AIL
LAST
TEN
FIS
CAL
YEA
RS
135
2009
-10
2010
-11
2011
-12
2012
-13
2013
-14
2014
-15
2015
-16
2016
-17
2017
-18
2018
-19
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYC
APIT
AL A
SSET
INFO
RM
ATIO
N -
DET
AIL
LAST
TEN
FIS
CAL
YEA
RS
Plea
sant
Hill
(198
5)Sq
uare
feet
102,
827
10
2,82
7
102,
827
10
2,82
7
102,
827
10
2,82
7
102,
827
10
2,82
7
102,
827
10
2,82
7
Cap
acity
2,93
8
2,
938
2,93
8
2,
938
2,93
8
2,
938
2,93
8
2,
938
2,93
8
2,
938
Enro
llmen
t33
3
328
31
5
310
32
3
316
32
1
375
37
2
362
Sa
mpi
t (20
00)
Squa
re fe
et75
,048
75
,048
75
,048
75
,048
75
,048
75
,048
75
,048
75
,048
75
,048
75
,048
C
apac
ity2,
144
2,14
4
2,
144
2,14
4
2,
144
2,14
4
2,
144
2,14
4
2,
144
2,14
4
En
rollm
ent
337
33
8
335
31
1
333
33
7
316
35
4
323
32
6
Old
Sam
pit (
1956
)Sq
uare
feet
29,7
43
29,7
43
29,7
43
29,7
43
29,7
43
-
-
-
-
-
Cap
acity
850
85
0
850
85
0
850
-
-
-
-
-
En
rollm
ent
Not
e 2
Not
e 2
Not
e 2
Not
e 2
Not
e 2
-
-
-
-
-
Wac
cam
aw (1
975)
Squa
re fe
et10
0,87
8
100,
878
10
0,87
8
100,
878
10
0,87
8
100,
878
10
0,87
8
100,
878
10
0,87
8
100,
878
C
apac
ity2,
882
2,88
2
2,
882
2,88
2
2,
882
2,88
2
2,
882
2,88
2
2,
882
2,88
2
En
rollm
ent
634
67
2
636
62
0
626
63
1
592
49
7
536
56
5
Squa
re fe
et74
0,87
4
751,
246
76
0,91
2
760,
912
76
0,91
2
731,
169
73
1,16
9
731,
169
73
1,16
9
731,
169
C
apac
ity21
,168
21
,168
21
,168
21
,168
21
,168
20
,318
20
,318
20
,318
20
,318
20
,318
En
rollm
ent
4,11
8
4,
060
3,88
5
3,
834
3,84
4
3,
815
3,72
7
3,
898
3,93
7
3,
945
Inte
rmed
iate
Sch
ool
Wac
cam
aw (2
008)
Squa
re fe
et82
,000
82
,000
82
,000
82
,000
82
,000
82
,000
82
,000
82
,000
82
,000
82
,000
C
apac
ity1,
768
1,76
8
1,
768
1,76
8
1,
768
1,76
8
1,
768
1,76
8
1,
768
1,76
8
En
rollm
ent
560
57
6
614
55
9
560
51
9
539
54
0
512
48
0
Mid
dle
Scho
ols
Car
vers
Bay
(200
0)Sq
uare
feet
101,
893
10
1,89
3
101,
893
10
1,89
3
101,
893
10
1,89
3
101,
893
10
1,89
3
101,
893
10
1,89
3
Cap
acity
2,91
1
2,
911
2,91
1
2,
911
2,91
1
2,
911
2,91
1
2,
911
2,91
1
2,
911
Enro
llmen
t33
8
341
34
1
321
30
9
282
28
2
277
27
6
308
Subt
otal
s fo
r Ele
men
tary
Sch
ools
136
2009
-10
2010
-11
2011
-12
2012
-13
2013
-14
2014
-15
2015
-16
2016
-17
2017
-18
2018
-19
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYC
APIT
AL A
SSET
INFO
RM
ATIO
N -
DET
AIL
LAST
TEN
FIS
CAL
YEA
RS
Cho
ppee
(195
6)Sq
uare
feet
49,0
13
49,0
13
49,0
13
49,0
13
49,0
13
-
-
-
-
-
Cap
acity
1,40
0
1,
400
1,40
0
1,
400
1,40
0
-
-
-
-
-
En
rollm
ent
Not
e 4
Not
e 4
Not
e 4
Not
e 4
Not
e 4
-
-
-
-
-
Geo
rget
own
(200
1)Sq
uare
feet
128,
060
12
8,06
0
128,
060
12
8,06
0
128,
060
12
8,06
0
128,
060
12
8,06
0
128,
060
12
8,06
0
Cap
acity
3,65
9
3,
659
3,65
9
3,
659
3,65
9
3,
659
3,65
9
3,
659
3,65
9
3,
659
Enro
llmen
t78
1
787
86
2
887
83
8
817
79
7
790
77
3
757
Pl
easa
nt H
ill (1
937)
Squa
re fe
et52
,375
52
,375
52
,375
52
,375
52
,375
-
-
-
-
-
C
apac
ity1,
496
1,49
6
1,
496
1,49
6
1,
496
-
-
-
-
-
Enro
llmen
t-
-
-
-
-
-
-
-
-
-
R
osem
ary
(200
0)Sq
uare
feet
100,
898
10
0,89
8
100,
898
10
0,89
8
100,
898
10
0,89
8
100,
898
10
0,89
8
100,
898
10
0,89
8
Cap
acity
2,88
3
2,
883
2,88
3
2,
883
2,88
3
2,
883
2,88
3
2,
883
2,88
3
2,
883
Enro
llmen
t46
2
429
47
7
491
48
4
483
44
5
442
42
7
418
O
ld R
osem
ary
(195
5)Sq
uare
feet
70,8
12
70,8
12
70,8
12
70,8
12
70,8
12
-
-
-
-
-
Cap
acity
2,02
3
2,
023
2,02
3
2,
023
2,02
3
-
-
-
-
-
En
rollm
ent
Not
e 5
Not
e 5
Not
e 5
Not
e 5
Not
e 5
-
-
-
-
-
Wac
cam
aw (2
001)
Squa
re fe
et80
,975
80
,975
80
,975
80
,975
80
,975
80
,975
80
,975
80
,975
80
,975
80
,975
C
apac
ity2,
314
2,31
4
2,
314
2,31
4
2,
314
2,31
4
2,
314
2,31
4
2,
314
2,31
4
En
rollm
ent
394
41
5
413
44
2
441
44
5
448
40
4
413
40
9
Squa
re fe
et58
4,02
6
584,
026
58
4,02
6
584,
026
58
4,02
6
411,
826
41
1,82
6
411,
826
41
1,82
6
411,
826
C
apac
ity16
,686
16
,686
16
,686
16
,686
16
,686
11
,767
11
,767
11
,767
11
,767
11
,767
En
rollm
ent
1,97
5
1,
972
2,09
3
2,
141
2,07
2
2,
027
1,97
2
1,
913
1,88
9
1,
892
Subt
otal
s fo
r Mid
dle
Scho
ols
137
2009
-10
2010
-11
2011
-12
2012
-13
2013
-14
2014
-15
2015
-16
2016
-17
2017
-18
2018
-19
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYC
APIT
AL A
SSET
INFO
RM
ATIO
N -
DET
AIL
LAST
TEN
FIS
CAL
YEA
RS
Hig
h Sc
hool
sAn
drew
s (2
001)
Squa
re fe
et16
3,20
3
163,
203
16
3,20
3
163,
203
16
3,20
3
163,
203
16
3,20
3
163,
203
16
3,20
3
163,
203
C
apac
ity4,
663
4,66
3
4,
663
4,66
3
4,
663
4,66
3
4,
663
4,66
3
4,
663
4,66
3
En
rollm
ent
640
58
9
544
53
9
506
54
0
601
58
3
598
55
7
Old
And
rew
s (1
956)
Squa
re fe
et91
,187
91
,187
91
,187
91
,187
91
,187
-
-
-
-
-
C
apac
ity2,
605
2,60
5
2,
605
2,60
5
2,
605
-
-
-
-
-
Enro
llmen
tN
ote
7N
ote
7N
ote
7N
ote
7N
ote
7-
-
-
-
-
C
arve
rs B
ay (2
000)
Squa
re fe
et16
6,63
9
166,
639
16
6,63
9
166,
639
16
6,63
9
166,
639
16
6,63
9
166,
639
16
6,63
9
166,
639
C
apac
ity4,
761
4,76
1
4,
761
4,76
1
4,
761
4,76
1
4,
761
4,76
1
4,
761
4,76
1
En
rollm
ent
431
41
2
391
38
9
391
39
9
395
38
5
369
36
0
Cho
ppee
(195
6)Sq
uare
feet
64,9
69
64,9
69
64,9
69
64,9
69
64,9
69
-
-
-
-
-
Cap
acity
1,85
6
1,
856
1,85
6
1,
856
1,85
6
-
-
-
-
-
En
rollm
ent
Not
e 8
Not
e 8
Not
e 8
Not
e 8
Not
e 8
-
-
-
-
-
Geo
rget
own
(198
5)Sq
uare
feet
222,
165
22
2,16
5
222,
165
22
2,16
5
222,
165
22
2,16
5
222,
165
22
2,16
5
222,
165
22
2,16
5
Cap
acity
6,34
8
6,
348
6,34
8
6,
348
6,34
8
6,
348
6,34
8
6,
348
6,34
8
6,
348
Enro
llmen
t95
1
970
95
9
933
93
6
960
99
0
1,01
7
98
6
924
W
acca
maw
(199
0)Sq
uare
feet
128,
631
12
8,63
1
141,
466
14
1,46
6
141,
466
14
1,46
6
141,
466
14
1,46
6
141,
466
14
1,46
6
Cap
acity
3,67
5
3,
675
4,04
2
4,
042
4,04
2
4,
042
4,04
2
4,
042
4,04
2
4,
042
Enro
llmen
t77
4
790
76
7
753
80
3
845
82
0
853
83
8
854
Squa
re fe
et83
6,79
4
836,
794
84
9,62
9
849,
629
84
9,62
9
693,
473
69
3,47
3
693,
473
69
3,47
3
693,
473
C
apac
ity23
,908
23
,908
24
,275
24
,275
24
,275
19
,814
19
,814
19
,814
19
,814
19
,814
En
rollm
ent
2,79
6
2,
761
2,66
1
2,
614
2,63
6
2,
744
2,80
6
2,
838
2,79
1
2,
695
Subt
otal
s fo
r Hig
h Sc
hool
s
138
2009
-10
2010
-11
2011
-12
2012
-13
2013
-14
2014
-15
2015
-16
2016
-17
2017
-18
2018
-19
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYC
APIT
AL A
SSET
INFO
RM
ATIO
N -
DET
AIL
LAST
TEN
FIS
CAL
YEA
RS
Spec
ial S
choo
lsC
aree
r Cen
ter (
1980
)Sq
uare
feet
41,7
50
41,7
50
41,7
50
41,7
50
41,7
50
41,7
50
41,7
50
41,7
50
41,7
50
41,7
50
Cap
acity
1,19
3
1,
193
1,19
3
1,
193
1,19
3
1,
193
1,19
3
1,
193
1,19
3
1,
193
Enro
llmen
t-
-
-
-
-
-
-
-
-
-
H
owar
d Ad
ult (
1966
)Sq
uare
feet
41,7
50
41,7
50
41,7
50
41,7
50
41,7
50
41,7
50
41,7
50
41,7
50
41,7
50
41,7
50
Cap
acity
1,19
3
1,
193
1,19
3
1,
193
1,19
3
1,
193
1,19
3
1,
193
1,19
3
1,
193
Enro
llmen
t54
8
630
44
9
491
43
1
464
30
5
283
16
2
161
Squa
re fe
et83
,500
83
,500
83
,500
83
,500
83
,500
83
,500
83
,500
83
,500
83
,500
83
,500
C
apac
ity2,
386
2,38
6
2,
386
2,38
6
2,
386
2,38
6
2,
386
2,38
6
2,
386
2,38
6
En
rollm
ent
548
63
0
449
49
1
431
46
4
305
28
3
162
16
1
Oth
er B
uild
ings
JB B
eck
Adm
in (1
954)
Squa
re fe
et96
,044
96
,044
96
,044
96
,044
96
,044
96
,044
96
,044
96
,044
96
,044
96
,044
C
apac
ity2,
744
2,74
4
2,
744
2,74
4
2,
744
2,74
4
2,
744
2,74
4
2,
744
2,74
4
En
rollm
ent
-
-
-
-
-
-
-
-
-
-
Ope
ratio
ns (1
908,
196
6)Sq
uare
feet
36,2
47
36,2
47
36,2
47
36,2
47
36,2
47
36,2
47
36,2
47
36,2
47
36,2
47
36,2
47
Cap
acity
1,03
6
1,
036
1,03
6
1,
036
1,03
6
1,
036
1,03
6
1,
036
1,03
6
1,
036
Enro
llmen
t-
-
-
-
-
-
-
-
-
-
Squa
re fe
et13
2,29
1
132,
291
13
2,29
1
132,
291
13
2,29
1
132,
291
13
2,29
1
132,
291
13
2,29
1
132,
291
C
apac
ity3,
780
3,78
0
3,
780
3,78
0
3,
780
3,78
0
3,
780
3,78
0
3,
780
3,78
0
En
rollm
ent
-
-
-
-
-
-
-
-
-
-
Not
e 2
Sam
pit E
lem
enta
ry S
choo
l ope
ned
in 1
999-
2000
whe
n O
ld S
ampi
t Ele
men
tary
Sch
ool c
lose
d.
Subt
otal
s fo
r Spe
cial
Sch
ools
Subt
otal
s fo
r Oth
er B
uild
ings
Not
e 1
Ple
asan
t Hill
Elem
enta
ry S
choo
l ope
ned
in 2
001-
2002
whe
n D
eep
Cre
ek E
lem
enta
ry S
choo
l clo
sed.
Not
e 3
Geo
rget
own
Mid
dle
Scho
ol o
pene
d in
200
1-20
02 w
hen
Beck
Mid
dle
Scho
ol c
lose
d.N
ote
4 C
arve
rs B
ay M
iddl
e Sc
hool
ope
ned
in 2
000-
2001
whe
n C
hopp
e M
iddl
e Sc
hool
clo
sed.
139
2009
-10
2010
-11
2011
-12
2012
-13
2013
-14
2014
-15
2015
-16
2016
-17
2017
-18
2018
-19
THE
SCH
OO
L D
ISTR
ICT
OF
GEO
RG
ETO
WN
CO
UN
TYC
APIT
AL A
SSET
INFO
RM
ATIO
N -
DET
AIL
LAST
TEN
FIS
CAL
YEA
RS
Not
e 9
Wac
cam
aw In
term
edia
te S
choo
l (G
rade
s 4-
6) o
pene
d in
200
8-20
09.
Sour
ce:
The
Scho
ol D
istri
ct o
f Geo
rget
own
Cou
nty
finan
cial
reco
rds.
Not
e 5
Ros
emar
y M
iddl
e Sc
hool
ope
ned
in 1
999-
2000
whe
n O
ld R
osem
ary
Mid
dle
Scho
ol c
lose
d.N
ote
6 W
acca
maw
Mid
dle
Scho
ol o
pene
d in
200
1-20
02.
The
mid
dle
scho
ol u
sed
to b
e ho
used
with
in W
acca
maw
Hig
h Sc
hool
.N
ote
7 A
ndre
w H
igh
Scho
ol o
pene
d in
200
0-20
01 w
hen
Old
And
rew
s H
igh
Scho
ol c
lose
d.N
ote
8 C
arve
rs B
ay H
igh
Scho
ol o
pene
d in
200
0-20
01 w
hen
Cho
ppe
Hig
h Sc
hool
and
Ple
asan
t Hill
Hig
h Sc
hool
clo
sed.
140
SINGLE AUDIT SECTION
The following information is related to the annual single audit including the schedule of expenditures of federal awards, findings and recommendations, and auditors' reports on internal control and compliance with applicable laws and regulations.
INDEPENDENT AUDITORS’ REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
To the Members of the Board of Education The School District of Georgetown County Georgetown, South Carolina
We have audited, 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, the financial statements of the governmental activities, the business-type activities, the aggregate discretely presented component unit, each major fund, and the aggregate remaining fund information of The School District of Georgetown County as of and for the year ended June 30, 2019, and the related notes to the financial statements, which collectively comprise The School District of Georgetown County’s basic financial statements, and have issued our report thereon dated December 2, 2019.
Internal Control over Financial Reporting In planning and performing our audit of the financial statements, we considered The School District of Georgetown County’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of The School District of Georgetown County’s internal control. Accordingly, we do not express an opinion on the effectiveness of The School District of Georgetown County’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether The School District of Georgetown County’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.
141
Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.
Greenville, South Carolina December 2, 2019
142
INDEPENDENT AUDITORS' REPORT ON COMPLIANCE ON EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE REQUIRED BY THE UNIFORM GUIDANCE
To the Members of the Board of Education The School District of Georgetown County Georgetown, South Carolina
Report on Compliance for Each Major Federal Program We have audited The School District of Georgetown County’s compliance with the types of compliance requirements described in the OMB Compliance Supplement that could have a direct and material effect on each of The School District of Georgetown County’s major federal programs for the year ended June 30, 2019. The School District of Georgetown County’s major federal programs are identified in the summary of auditor’s results section of the accompanying schedule of findings and questioned costs.
Management’s Responsibility
Management is responsible for compliance with federal statutes, regulations, and the terms and conditions of its federal awards applicable to its federal programs.
Auditor’s Responsibility
Our responsibility is to express an opinion on compliance for each of The School District of Georgetown County’s major federal programs based on our audit of the types of compliance requirements referred to above. We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and the audit requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Those standards and the Uniform Guidance require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal program occurred. An audit includes examining, on a test basis, evidence about The School District of Georgetown County’s compliance with those requirements and performing such other procedures as we considered necessary in the circumstances.
We believe that our audit provides a reasonable basis for our opinion on compliance for each major federal program. However, our audit does not provide a legal determination of The School District of Georgetown County’s compliance.
Opinion on Each Major Federal Program In our opinion, The School District of Georgetown County complied, in all material respects, with the types of compliance requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended June 30, 2019.
143
Report on Internal Control over Compliance Management of The School District of Georgetown County is responsible for establishing and maintaining effective internal control over compliance with the types of compliance requirements referred to above. In planning and performing our audit of compliance, we considered The School District of Georgetown County’s internal control over compliance with the types of requirements that could have a direct and material effect on each major federal program to determine the auditing procedures that are appropriate in the circumstances for the purpose of expressing an opinion on compliance for each major federal program and to test and report on internal control over compliance in accordance with the Uniform Guidance, but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness of The School District of Georgetown County’s internal control over compliance.
A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal program on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program will not be prevented, or detected and corrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal program that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance.
Our consideration of internal control over compliance was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.
The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of the Uniform Guidance. Accordingly, this report is not suitable for any other purpose.
Greenville, South Carolina December 2, 2019
144
Pass-LEA Federal Grantor Federal Through
Subfund Pass-Through Grantor CFDA Grantor's TotalCode Program Title Number Number Expenditures
2010 Title I Grants to Local Educational Agencies 84.010 19 Title I 2,416,385$ 2010 Title I Grants to Local Educational Agencies 84.010 18 Title I 545,976 2010 Title I Grants to Local Educational Agencies 84.010 N/A 2,839 2210 Title I Grants to Local Educational Agencies 84.010 19 Title I N & D (LEA) 46,670 2210 Title I Grants to Local Educational Agencies 84.010 19 Title I N & D Mini 47 2380 Title I Grants to Local Educational Agencies 84.010 19 Title I School Improvement Mini 78,588 2400 Title I Grants to Local Educational Agencies 84.010 18 Title I Direct Student Services 91,983
3,182,488
2030 * Special Education - Grants to States 84.027 19 IDEA 2,199,507 2030 * Special Education - Grants to States 84.027 FY18 IDEA 207,514 2120 * Special Education - Grants to States 84.027 N/A 5,586 2090 * Special Education - Grants to States 84.027 N/A 186,457 2050 * Special Education - Preschool Grants 84.173 19 Preschool 64,051
2,663,115
2070 Career and Technical Education - Basic Grants to States 84.048 19 CATE 163,992 2100 Student Support & Academic Enrichment Program 84.424 19 Title IV SSAE 10,694 2100 Student Support & Academic Enrichment Program 84.424 18 Title IV SSAE 82,651 2340 School Improvement Grants 84.377 19 School Improvement 147,069 2340 School Improvement Grants 84.377 18 School Improvement 43,948 2430 Adult Education - Basic Grants to States 84.002 19 Adult Education 87,383 2430 Adult Education - Basic Grants to States 84.002 2017-18 Adult Education Federal 27,922 2430 Adult Education - Basic Grants to States 84.002 2017 Adult Education Reverted 2,289 2430 Adult Education - Basic Grants to States 84.002 18 Adult Education Reverted (243) 4,682 2640 English Language Acquisition State Grants 84.365 2019 Title III 14,886 2640 English Language Acquisition State Grants 84.365 2018 Title III 20,637 2670 Supporting Effective Instruction State Grants 84.367 9 Title II Supporting Effective Instructio 314,666 2670 Supporting Effective Instruction State Grants 84.367 Improving Teacher Quality 68,941
6,835,363
6,835,363
6000 Commodity Supplemental Food Program 10.555 N/A 314,759
6000 School Breakfast Program 10.553 N/A 1,239,122 6000 School Lunch Program 10.555 N/A 2,750,914 6000 Summer Food Service Program for Children 10.559 N/A 87,652
4,392,447
8840 Child Nutrition Discretionary Grants 10.579 18NSLE 76,625 6000 Fresh Fruit and Vegetable Program 10.582 18FFVP 142,212
4,611,284
Total Child Nutrition Cluster
Total U.S. Department of Agriculture - Food and Nutrition Services
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYSCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED JUNE 30, 2019
Total U.S. Department of Education
Total Pass-Through S.C. Department of Education
Pass-Through S.C. Department of EducationU.S. Department of Education
Title I Program:
Total Title I Program
Special Education Cluster (IDEA):
Total Special Education Cluster (IDEA)
Pass-Through S.C. Department of EducationU.S. Department of Agriculture - Food and Nutrition Services
Cash Assistance:
Non-Cash Assistance (Commodities):Child Nutrition Cluster:
145
Pass-LEA Federal Grantor Federal Through
Subfund Pass-Through Grantor CFDA Grantor's TotalCode Program Title Number Number Expenditures
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYSCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR THE YEAR ENDED JUNE 30, 2019
2810 NJROTC - AHS 12.000 N/A 41,942 2830 NJROTC - GHS 12.000 N/A 68,844 2880 MJROTC - CBHS 12.000 N/A 29,033
139,819
National Institute of Justice Research, Evaluation,8670 and Development Project Grants 16.560 N/A 55,538
55,538
8390 Disaster Grants - Public Assistance (Presidentially Declared Disasters) 97.036 N/A 23,162
23,162
11,665,166$
*Denotes Major Program
Total Federal Awards Expended
U.S. Department of Homeland SecurityPass-Through South Carolina Emergency Management Division
Total U.S. Department of Homeland Security
U.S. Department of DefenseDirect Program
Total U.S. Department of Defense
U.S. Department of JusticePass-Through S.C. Department of Education
Total U.S. Department of Justice
146
THE SCHOOL DISTRICT OF GEORGETOWN COUNTY NOTES TO THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
FOR FISCAL YEAR ENDED JUNE 30, 2019
1. BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards includes the federal grant activity of The School District of Georgetown County and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations, Part 200, Uniform Administrative Requirement, Cost Principles, and audit requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. The District has elected not to use the de minimis indirect cost rate of ten percent. 2. INTEREST SUBSIDY During the year ended June 30, 2019 the District expended federal interest subsidies in the amount of $837,215. These amounts, while included as federal revenue on the governmental fund statements, are not included in the schedule of expenditures of federal awards.
147
Part I Summary of Auditors' Results:
Financial Statements
Type of Auditors' Report Issued:
Internal Control Over Financial Reporting:
Material Weakness(es) Identified? Yes X None Reported
Significant Deficiencies Identified That Are Not Considered To Be Material Weaknesses Yes X None Reported
Noncompliance Material to Financial Statements Noted Yes X None Reported
Federal Awards
Internal Control Over Major Federal Programs:
Material Weakness(es) Identified? Yes X None Reported
Significant Deficiencies Identified That Are NotConsidered To Be Material Weaknesses Yes X None Reported
Type of Auditors' Report Issued on Compliance for MajorFederal Programs:
Programs Tested as Major Programs:Program:
Special Education Cluster (IDEA):Special Education - Grants to StatesSpecial Education - Preschool Grants
Dollar Threshold used to Distinguish BetweenType A and Type B Programs:
Auditee Qualify as Low-Risk Auditee? X Yes No
Any Audit Findings Disclosed That are Required To BeReported in Accordance With Government Auditing Standards2 CFR 200.516(a) Yes X No
$750,000
THE SCHOOL DISTRICT OF GEORGETOWN COUNTYSCHEDULE OF FINDINGS AND QUESTIONED COSTS
FOR THE YEAR ENDED JUNE 30, 2019
Unmodified
Unmodified
CFDA #:
84.02784.173
148
THE SCHOOL DISTRICT OF GEORGETOWN COUNTY SCHEDULE OF FINDINGS AND QUESTIONED COSTS
FOR FISCAL YEAR ENDED JUNE 30, 2019 Part II Findings Related to the Financial Statements None Part III Findings Related to Federal Awards None
149
THE SCHOOL DISTRICT OF GEORGETOWN COUNTY SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
FOR FISCAL YEAR ENDED JUNE 30, 2019
SUBMITTED BY THE SCHOOL DISTRICT OF GEORGETOWN COUNTY: None Reported
150
THE SCHOOL DISTRICT OF GEORGETOWN COUNTY CORRECTIVE ACTION PLAN
FOR FISCAL YEAR ENDED JUNE 30, 2019 None Reported
151