Dorchester County School District No. 2, SC

Transcription

1 Dorchester County School District No. 2, SC 1 School District No. 2 of Dorchester County, South Carolina, General Obligation Bonds of 2017A (the "Bonds"), $6,945,000, Dated: March 15, Dorchester County School District No. 2, South Carolina General Obligation Bonds of 2015B, $39,910,000 Dated: August 19, GROWTH Installment Purchase Revenue Refunding Bonds (School District No. 2 of Dorchester County, South Carolina Project) Series 2015, $41,900,000 Dated: April 16, Dorchester County School District No. 2, South Carolina General Obligation Bonds of 2014A, $140,000,000 Dated: February 27, 2014 GROWTH Installment Purchase Revenue Refunding Bonds (School District No. 2 of Dorchester County, South Carolina Project) Taxable Series 2013A 5 $10,880,000 and Tax Exempt Series 2013B $83,325,000, Dated: June 13, Dorchester County School District No. 2, South Carolina General Obligation Refunding Bonds Series 2010, $12,325,000 Dated: November 3, 2010 NAR Dorchester County School District No. 2, South Carolina, School Building General Obligation Bonds, Series 2009D (Taxable Qualified School Construction 7 Bonds) $10,000,000 and General Obligation Bonds, Series 2009E (Tax Exempt Bonds) $50,000, Dated: December 22, Dorchester County School District No. 2, South Carolina Special Obligation Bonds Series 2009, $5,010,000 Dated: November 18, 2009 Financial And Tax Information, 2009 Five Year Summary of General Fund Operations Summaries of Actual Revenues & Expenditures -- General Fund 06/30/13 06/30/14 06/30/15 06/30/16 06/30/17 REVENUES Local Sources 42,594,593 42,520,574 42,848,018 45,488,808 46,865,043 State Sources 105,125, ,986, ,163, ,852, ,689,215 Federal Sources 113, ,334 95,687 87, ,378 TOTAL REVENUES 147,834, ,615, ,107, ,428, ,741,636 EXPENDITURES Instruction 100,654, ,817, ,602, ,223, ,129,487 Support Services 53,839,942 57,212,695 58,012,821 60,443,055 68,007,059 Capital Outlay 3,430, , , , ,403 Debt Service 1,514,929 2,715,575 2,649,978 1,243,678 1,266,614 Intergovernmental TOTAL EXPENDITURES 159,440, ,573, ,832, ,220, ,556,563 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (11,605,993) (10,957,343) (7,725,570) (4,792,062) (4,814,927) OTHER FINANCING SOURCES (USES) Proceeds from Lease Purchase Capital Lease 6,050,000 Transfer In 9,122,869 10,257,927 11,832,945 8,757,398 8,772,272 Transfer Out (1,836,064) (1,492,858) (1,927,311) (2,428,705) (2,652,979) TOTAL OTHER FINANCING SOURCES (USES) 13,336,805 8,765,069 9,905,634 6,328,693 6,119,293 Net Change In Fund Balance 1,730,812 (2,192,274) 2,180,064 1,536,631 1,304,366 Beginning Fund Balance 22,343,207 24,074,019 21,881,745 24,061,809 25,598,440 Ending Fund Balance 24,074,019 21,881,745 24,061,809 25,598,440 26,902,806

2 Revenues Revenues from the State Fiscal Year General Fund Revenues Special Revenues Debt Service Revenues Capital Projects Total ,689,215 15,091,197 1,028, ,808,981 Homestead Exemption Fund and Act 388 Reimbursements EIA and Special Revenue Homestead Exemption Fiscal Year EFA Funds Fund Total ,927,288 38,366,308 32,826, ,120,322 Revenue from Ad Valorem Taxes Fiscal Year State Ad Valorem Federal Total ,808,981 71,989,042 19,115, ,913,962, 2009 Assessed Value Total Assessed Value of Assessed Value of Tax Year Real Property Personal Property Assessed Value ,214, ,666, ,881,009, 2009DE, 2009 Tax Collections Current Percentage Delinquent Taxes Fiscal Year Adjusted Tax Levy Current Taxes Collected Collected Collected Total Collected Total Percentage Collected ,163, ,785, % 3,050, ,835, %

3 , 2009DE, 2009 Ten Largest Taxpayers 2017 Taxpayer Assessed Valuation Taxes Paid 1 South Carolina Eletric and Gas 13,320,140 $4,802, Robert Bosch LLC 9,058,230 $2,242, FAE Holdings r LLC 1,754,550 $715, Charleston-N Chas MSA Co 646 1,772,560 $681, Bellsouth Communications I 1,963,900 $676, Atrium at Wescott LLC 1,425,390 $580, Trident Medical Center LLC 1,499,410 $560, Arbor Village Apartments LLC 1,475,150 $551, Kapstone Charleston Kraft LLC 1,613,340 $543, Ashton at McKewn Plantation LTD 1,278,000 $520,912.80, 2009DE Millage History Operations Debt Service Total Series 2009DE, 2009 Market Value/Assessment Summary 2017 Class of Property Assessed Value Assessment Ratio Market Value Real Property and Mobile Homes 395,214, ,605,585,667 Motor Vehicles 61,924, ,032,071,183 Public Utilities 20,969, ,709,048 Transportation Companies For Hire 271, ,856,947 Manufacturing and Business Personal Property 13,558, ,129,524 Marine Equipment 2,103, ,037,524 Merchant's Floor Stock Inventory, Fixtures and Equipment 1,395, ,290,429 Industrial Property for which Payment in Lieu of Taxes is Made 12,419,038 Variable 206,983,962 Motor Carriers 966, ,200,719 Aircraft 58, ,451,000 TOTAL 508,881,009 10,220,316,002

4 The School District Series 2009 The State of South Carolina's School Program- Contributions to EFA Program State Contribution to School Year District EFA Program ,927,288 Series 2009 Enrollment of the School District School Year Pupils ,354 Debt Structure Legal Debt Limit of the School District Assessed Value (June 30, 2017) 508,881,009 x 8% Constitutional Debt 40,710,481 Outstanding Debt Subject to Limit 31,564,092 General Obligation Debt Available Without Referendum 9,146,389

5 , 2009 Outstanding/Authorized Indebtedness Bond Series Amount Issued Final Maturity Amount Outstanding December 2009, Series D 10,000, ,000,000 February 2014: Series A 140,000, ,000,000 August 2115; Series B 39,910, ,910,000 November 2010; Refunding 12,325, ,350,000 November 2009: Equipment 5,010, ,275,000 June 2013; GROWTH Refunding 96,205, ,725,000 April 2015: GROWTH Refunding 41,900, ,380,000 June 2013 Capital Lease 6,050, ,229,230 June 2016 Secured by Buses 1,800, ,800,000 March 2017; Series! 6,945, ,945,000 Total 360,145, ,614,230, Composite Debt Service Outstanding Bonds Total Calendar Year Debt Service Principal Interest Total Debt Service Year Ending June 30, ,382,000 9,232,230 13,739,945 22,972,175 Year Ending June 30, ,263,000 10,119,000 13,390,160 23,509,160 Year Ending June 30, ,923,000 11,340,000 12,921,836 24,261,836 Year Ending June 30, ,247,000 12,676,000 12,419,245 25,095,245 Year Ending June 30, ,115,000 14,132,000 11,804,877 25,936,877 Year Ending June 30, ,850,000 15,265,000 11,160,956 26,425,956 Year Ending June 30, ,940,000 16,910,000 10,391,531 27,301,531 Year Ending June 30, ,190,000 28,750,000 9,616,756 38,366,756 Total 118,424,230 95,445, ,869,536 Series 2009DE Debt Service Requirements Total Principal Total Principal and Total Principal on & Interest on Interest on the QSCBS and General Obligation Calendar Year Outstanding Bonds Outstanding Bonds the Tax-Exempt Bonds Debt Service Year Ending June 30, ,232,230 22,972,175 19,546,199 10,997,157 Year Ending June 30, ,119,000 23,509,160 23,509,160 10,640,631 Year Ending June 30, ,340,000 24,261,836 24,261,836 11,097,981 Year Ending June 30, ,676,000 25,095,245 25,095,245 11,945,881 Year Ending June 30, ,132,000 25,936,877 25,936,877 12,783,881 Year Ending June 30, ,265,000 26,425,956 26,425,956 13,672,481 Year Ending June 30, ,910,000 27,301,531 27,301,531 14,562,231 Year Ending June 30, ,750,000 38,366,756 38,366,756 25,594,481 Total 118,424, ,869, ,443, ,294,724