HomeMy WebLinkAboutDeerfield Public Schools District 109 - Public Financial ReportFOR THE FISCALYEAR ENDINGJUNE 30, 2021
POPULAR ANNUAL
FINANCIAL REPORT
DEERFIELD PUBLIC SCHOOLS DISTRICT 109
3 SCHOOL DISTRICT
GOVERNANCE
4 DISTRICT 109 AT A
GLANCE
5 SUMMARIZED
FINANCIAL REPORTS
7 WHERE DOES THE
MONEY COME FROM?
8 WHERE DOES THE
MONEY GO? AND
OUTSTANDING DEBT
9 PORTRAIT OF A
GRADUATE
10 MAJOR INITIATIVES
We are pleased to present the Deerfield Public Schools District
109 Popular Annual Financial Report (PAFR) for the fiscal year
ended June 30, 2021. This report makes our District’s finances
easier to understand, and it is intended to communicate our
financial situation in an open and accountable manner.
The PAFR provides a condensed report of the financial
activities and operating results reported in the Deerfield Public
Schools District’s audited Comprehensive Annual Financial
Report (CAFR). The PAFR is unaudited and presented on a
non-Generally Accepted Accounting Principles (GAAP) basis,
which primarily deals with full disclosure and segregated
funds. The statements presented under the Summarized
Financial Reports section consist of the General Fund of the
District. The General Fund is the general operating fund of
the District. It is used to account for all financial resources
except those required to be accounted for in another fund.
The most significant items not reported in the General Fund
include debt issuance, retirement, and building and permanent
improvements. For more detailed financial information, a copy
of the Comprehensive Annual Financial Report can be viewed
on the District’s website at www.dps109.org under Finance &
Operations.
Deerfield Public Schools District 109 is proud to present this
report to help our community members understand how tax
dollars are utilized to educate our students. Questions and
comments regarding this report are encouraged, and may be
directed to the Finance and Operations department at 847-
945-1844.
Table of contents:
Dr. John Filippi
Assistant Superintendent for
Finance & Operations, CSBO
Kelly Mitchell
Business Manager, CSBO
A Message from the school district
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Award-Winning District District 109 has been recognized in many areas. here are some recent recognitions:
Sari montgomery
President
Nick BegleyVice President Maureen Wener
Secretary
kenneth j. ashmanMember
Andrew Morrison
Member
Ryan Kuo
Member
Kelly Jakymiw
Member
The District is goverened by a School Board consisting of seven members who are elected to a four-year term. The
Board’s powers and duties include the authority to adopt, enforce, and monitor all policies for the management
and governance of the District’s schools. We thank our Board of Education members for their countless hours of
support and dedication to ensure Deerfield Public Schools provide the best education to all students.
school district Governance
Over three years (2016-2017, 2017-2018, and 2018-2019), five District 109 schools were named a Blue Ribbon Award school by the U.S. Department of Education.
For thirteen consecutive years, the Association of School Business Officials International has awarded Deerfield Public Schools District 109 the Meritorious Budget Award for excellence in the preparation and issuance of its budget.
The Government Finance Officers Association awarded the District a Certificate of Achievement for Excellence in Financial Reporting for its Comprehensive Annual Financial Report for the fiscal years ended June 30, 2015, 2016, 2017, 2018, 2019, and 2020 and for its Popular Annual Financial Report for the fiscal years ended June 30, 2017, 2018, 2019, and 2020.
The Association of School Business Officials International has awarded the Certificate of Excellence in Financial Reporting to the District for the fiscal years 2004-2014, 2018, 2019, and 2020.
In 2019, Moody’s Investor Service assigned a “AAA” bond rating to the district.
The Illinois State Board of Education has given the District its highest Financial Recognition standing for the last sixteen years.
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average
class size
17
elementary
schools
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Provide innovative educational experiences of the
highest quality that engage, inspire, and empower each
student to excel and contribute to improving the world.
DISTRICT 109 MISSION
middle
schools
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5 BLU E R I B BON SC
H
O
O
L
S
district 109 at a glance
63.5% Master’s Degree or Higher
34.75% Bachelor’s Degree
teachers
ENROLLMENT
‘15 ‘16
‘17
‘18 ‘19 ‘20
‘21
OF BALANCED BUDGET
years17
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District 109
Early Learners
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PRESCHOOL
ASSETS FY21 FY20 FY19
CASH & INVESTMENTS $46,904,705 $45,116,365 $45,987,701
ACCRUED INTREST INCOME $207,149 $189,577 $315,124
ACCOUNTS RECEIVEABLE $29,373,432 $30,022,006 $26,004,742
PREPAIDS $1,007,957 $332,841 $386,787
TOTAL ASSETS $77,493,243 $75,660,789 $72,694,354
LIABILITIES & DEFERRED INFLOWS FY21 FY20 FY19
ACCOUNTS PAYABLE $572,789 $606,013 $410,771
PAYROLL DEDUCTIONS PAYABLE $1,754,301 $2,257,890 $2,801,540
UNEARNED REVENUE $7,475 $7,975 $273,118
DEFERRED INFLOWS $54,376,132 $52,944,490 $51,757,793
TOTAL LIABILITIES & DEFERRED INFLOWS $56,710,697 $55,816,368 $55,243,222
ASSESTS OVER LIABILITIES & DEFERRED INFLOWS $20,782,546 $19,844,421 $17,451,132
SUMMARIZED FINANCIAL REPORTS
Numbers in the Financial Position Statement and Financial
Activity Statement are derived from the District’s Comprehensive
Annual Financial Report (CAFR), but are presented in a non-GAAP
format. This PAFR focuses on the District’s Operating Funds—
these include the Education, Operations and Maintenance,
Transportation, and Municipal Retirement/Social Security funds.
The Financial Position Statement, known in accounting terms as
the balance sheet, reports the assets available. The assets provide
services along with the liabilities and deferred inflows. The excess
of assets over liabilities and deferred inflows provides the new
position, or net worth, of the District. The amounts reported are for
the District’s Operating Funds. The District remains in a strong fiscal
position.
ASSETS OVER LIABILITIES AND DEFERRED INFLOWS
DEFINITIONS
ASSETS are the resources owned
and controlled by the school district
that are expected to benefit future
operations.
DEFERRED INFLOWS are primarily
assets that do not finance the
current fiscal year.
LIABILITIES are the amount for
which the district is obligated to pay
in the future.
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REVENUES & RESOURCES FY21 FY20 FY19
TAXES $53,352,219 $52,186,570 $50,921,312
TUITION $0 $251,815 $271,259
TRANSPORTATION FEES $373 $70,430 $62,150
EARNINGS ON INVESTMENTS $571,223 $607,891 $655,737
FOOD SERVICES FEES $0 $22,550 $25,960
PUPIL ACTIVITY FEES $53,890 $58,088 $135,497
TEXTBOOK FEES $329,796 $368,317 $381,429
RENTALS $2,200 $14,641 $35,737
OTHER $101,245 $33,689 $28,109
STATE AID (INCLUDES "ON- BEHALF" PAYMENTS)$24,242,231 $22,572,329 $18,940,896
FEDERAL AID $770,884 $883,855 $750,601
TOTAL REVENUES & RESOURCES $79,424,061 $77,070,175 $72,208,687
EXPENDITURES & SERVICES FY21 FY20 FY19
INSTRUCTION- REGULAR $44,987,645 $42,493,417 $39,697,485
INSTRUCTION- SPECIAL EDUCATION $7,596,837 $7,180,015 $7,399,404
INSTRUCTION-EDUCATION DEPRIVED/REMEDIAL $48,506 $0 $0
INSTRUCTION-INTERSCHOLASTIC $387,013 $540,640 $504,718
INSTRUCTION- SUMMER SCHOOL $154,781 $100,961 $81,219
INSTRUCTION- GIFTED $742,880 $1,003,929 $836,773
SUPPORTING SERVICES- PUPILS $2,965,705 $2,741,404 $2,964,084
SUPPORTING SERVICES-INSTRUCTIONAL STAFF $3,644,535 $3,431,081 $3,462,985
SUPPORTING SERVICES- GENERAL ADMINISTRATION $2,014,818 $1,698,667 $1,795,838
SUPPORTING SERVICES- SCHOOL ADMINISTRATION $2,262,773 $2,482,745 $2,496,754
SUPPORTING SERVICES- BUSINESS $8,618,835 $5,815,887 $5,969,659
SUPPORTING SERVICES- CENTRAL $1,560,726 $1,497,542 $2,399,417
COMMUNITY SERVICES $223,668 $183,158 $211,117
SUMMARIZED FINANCIAL REPORTS
REVENUES AND RESOURCES OVER EXPENDITURES AND SERVICES
The Income Statement provides a summary
of the revenues and resources received by the
District compared to the expenditures and
services provided by the District. The amounts
above reflect the District’s Operating Funds.
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where does the money COME FROM?
FUNDING BY SOURCE
Illinois requires that Districts report State “On-Behalf” payments in revenue and expenditure totals--even though the District never actually receives or expends such funds. “On-Behalf” payments represent an actuarial calculation that projects pension payments Illinois will make on behalf of District employees when they elect to retire in future years.
“ON - BEHALF”
In fiscal year 2021, “On-Behalf” payments totaled $24,010,143. Actual funds the District received from the State, as well as actual expenditure totals the District made for Instruction and Supporting Services, are $24,010,143 less than is expressed in this report.
2021
The overwhelming majority of funding for Deerfield Public Schools District 109 comes from local property taxes levied upon residential and commercial landowners.
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where does the money GO?
The vast majority of District 109 expenditures fund employee salaries and benefits for instructional purposes. Supporting services account for support staff, administration, and maintenance of District facilities. The District is a member of a regional special education cooperative, and “payments to other districts” generally accounts for membership and service fees associated with the cooperative.
OUTSTANDING DEBT AT YEAR END
This chart captures the District’s long-term bond obligations. These bonds were issued for construction, renovation, and/or refunding of bonds and consume approximately 17% of the District’s borrowing capacity.
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OUTSTANDING DEBT (SHOWN IN THOUSANDS)FY21 FY20 FY19
2015 GENERAL OBLIGATION REFUNDING BONDS $1,770,000 $1,770,000 $1,770,000
1999-B LTD. TAX SCHOOL BONDS $0 $0 $0
2013 GENERAL OBLIGATION LIMITED SCHOOL BONDS $7,265,000 $8,150,000 $8,975,000
2015 GENERAL OBLIGATION LIMITED SCHOOL BONDS $7,500,000 $7,500,000 $7,500,000
2010 DEBT CERTIFICATES $0 $0 $1,945,000
2019 GENERAL OBLIGATION REFUNDING BONDS $2,915,000 $2,915,000 $0
TOTAL OUTSTANDING DEBT $19,450,000 $20,335,000 $20,190,000
FUNDING BY SOURCE
PORTRAIT OF A GRADUATEDPS109
Stakeholders were asked to describe the knowledge, skills, and characteristics they hope students develop throughout their time in the District. The following portrait of a graduate emerged.
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major initiatives
stay connected
The District continues to draw leadership from the Board of Education, the District’s Administration,
and District’s Employee Associations.
Working together to benefit the children of the Deerfield area, these forces combined to accomplish
the following major initiatives during the fiscal year:
REGOGNITION AS ONE OF CHICAGO’S TOP WORKPLACES 2021 (TM)
MAJOR INITIATIVES
A LEADER IN THE IMPLEMENTATION OF SHIELD TESTING AND TEST-TO-STAY PROTOCOLS IN RESPONSE TO THE COVID-19 PANDEMIC
Looking ahead to the future, District 109 will encounter new challenges. The District will strive to meet
them through colla (847) 945-1844DPS109.ORG@DPS109@DPS109@DPS109 borative efforts of District
Administration, Staff, and Board of Education in hopes that meeting these challenges will enhance the
quality of education provided by District 109. These future initiatives include:
Capitalize on the numerous resources that are available in the communities of Deerfield, Highland Park and Riverwoods: parents, businesses, organizations and other resources.
Continue to work with Deerfield High School to create a seamless K-12 education for District 109 students.
Help students increase their learning and understanding of the curriculum through continued integration of technology.
Deerfield Public School District 109
517 Deerfield Road, Deerfield IL 60015
sTAY CONNECTED
#ENGAGE109
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