Hillsborough County Schools, FL

Transcription

1 Hillsborough County Schools, FL Refunding Certificates of Participation (School Board of Hillsborough County, Florida Master Lease Program), Evidencing an Undivided Proportionate Interest of Owners thereof in Basic Rent Payments to be made under a Master Lease Purchase Agreement by The 1 School Board of Hillsborough County, Florida, Series 2015A, $100,625,000, Dated: August 20, School District of Hillsborough County, Florida, Sales Tax Revenue Refunding Bonds, Series 2015B, $65,195,000, Dated: August 20, School Board of Hillsborough County, Florida, Capital Improvement and Refunding Revenue Bonds, Series 2015, $6,000,000, Dated: March 23, School Board of Hillsborough County, Florida, Series 2012A $124,565,000, Dated: April 3, School Board of Hillsborough County, Florida, Series 2010A $97,545,000, Dated: April 15, of Hillsborough County, Florida, Series 2007 $84,685,000, Dated: April 24, School District of Hillsborough County, Florida, Sales Tax Revenue Refunding Bonds, Series 2007, $47,515,000, Dated: April 2, School Board of Hillsborough County, Florida, Series 2006B $77,900,000, Dated: January 26, School District of Hillsborough County, Florida, Sales Tax Revenue Bonds, Series 2006, $54,860,000, Dated: March 27, of Hillsborough County, Florida, Series 2006A $86,435,000, Dated: January 31, School Board of Hillsborough County, Florida, Series 2005A $48,915,000, Dated: March 22, School District of Hillsborough County, Florida, Sales Tax Revenue Refunding Bonds, Series 2005, $127,975,000, Dated: March 1, School Board of Hillsborough County, Florida, Series 2004A $27,305,000, Dated: February 19, 2004 School Board of Hillsborough County, Florida Master Lease Program, Certificate of Participation, Evidencing An Undivided Proportionate Interest of Owners thereof in Basic Rent Payments to be made under a Master Lease Purchase Agreement by the School Board 14 of Hillsborough County, Florida, Series 2004B, $56,715,000, Date: February 19, of Hillsborough County, Florida, Series 1998 $336,930,000, Dated: March 1, 1998 Series 2015B, 2007, 2006, 2005 Historical Community Investment Tax Distributions (Sales Tax Revenues) To School Board of Hillsborough County, Florida Distributions to Hillsborough County Year School Board ,601,925 Series 2015 Historic information for the District setting forth the amount of Pledged Funds received during the prior Fiscal Year and the amount thereof expended for debt service. Fiscal Year Pledged Funds Received Debt Service 2015 $446, $360, Series 2015A, 2015B, 2012A, 2010A, 2007COP, 2006B, 2006A, 2005A, 2004B, 2004A, 1998C.O.P. Summary of Statistical Data Average Number of Number of F.T.E. Expenditure School Year Schools Instructors Enrollment per F.T.E. Student 2014/ , ,089 9,273

2 Series 2015A, 2015B, 2012A, 2010A, 2007COP, 2006B, 2006A, 2005A, 2004B, 2004A, 1998C.O.P. Debt Statement General Non Self Self Obligation Supporting Supporting DIRECT AND OVERLAPPING DEBT Debt Debt Debt DIRECT DEBT OF DISTRICT State of Florida: Series 2006-A $2,505,000 Series 2008-A $4,295,000 Series 2009-A $2,000,000 Series 2010-A $3,245,000 Series 2011-A $1,445,000 Series 2014-A $2,332,000 Series 2014-B $12,583,000 District Bonds: Series 2015 Capital Improvement and Refunding $6,000, Series 2005 Sales Tax Refunding $100,820,000 Series 2006 Sales Tax $37,600,000 Series 2007 Sales Tax Refunding $47,515,000 Total Direct Debt $28,405,000 $191,935,000 OVERLAPPING GOVERNMENTAL ACTIVITIES DEBT Board of County Commissioners: General Obligation Bonded Debt $66,192, Total Overlapping Debt TOTAL DIRECT AND OVERLAPPING DEBT $66,192, $28,405,000 $191,935,000 Series 2015A, 2015B, 2012A, 2010A, 2007COP, 2006B, 2006A, 2005A, 2004B, 2004A, 1998C.O.P School District of Hillsborough County, Florida Summary of General Fund's Revenues and Expenses General Fund Audited Fiscal Years Ending 6/ Revenues Federal $ 2,692 Federal through State 9,736 State Sources 1,032,116 Local 502,129 Non Revenue and Transfers Total Revenues $ 1,546,673 Expenditures Current Education: Instruction $ 1,092,452 Pupil Personnel 64,251 Instructional Media 52,087 Instruction & Curriculum Development 30,467 Instructional Staff Training 27,099 Board of Education 1,644 Gen. Administration 6,125 School Administration 100,321 Fiscal Services 6,949 Food Services 537 Central Services 38,192 Pupil Transportation 73,169 Operation of Plant 111,041 Maintenance of Plant 27,239 Community Services 44,154 Facilities Acquisition and Construction and Capital Outlay 4,324 Remittance and Transfers to Other Funds (49,769) Total Expenditures & Other Uses $ 1,630,282 Ending Fund Balance Designated Undesignated Nonspendable 5,064 Restricted 22,309 Assigned 20,609 Unassigned 98,041 TOTAL ENDING FUND BALANCE $ 146,023

3 Series 2015A, 2015B School District of Hillsborough County, Florida Summary of General Fund's Revenues and Expenses Capital Projects Funds 2015 Revenue State Sources $ 9,676 Local Sources 134,891 Total Revenues 144,567 Expenditures Current Education: Facilities Acquisition & Construction $ 98,971 Total Expenditures $ 98,971 Excess (Deficiency) Revenues Over Expenditures $ 45,596 Other Financing Sources (Uses) Operating Transfers In (Out) $ (78,819) Nonrevenue Sources $ 3,282 Total Other Financing Sources (Uses) (75,537) Excess (Deficit) of Revenues and Other Sources over Expenditures & Other Uses (29,941) Beginning Fund Balance 168,287 Fund Balance at End of Year 138,346 Series 2012A, 2010A, 2007COP, 2006B, 2006A, 2005A, 2004B, 2004A Hillsborough County, Florida Comparative Ratios of Bonded Debt And Certificates of Participation To Taxable Assessed Valuation and Per Capita Indebtedness Population (Fiscal Year) 1,301,887 Total Taxable Valuation (2015 Tax Year) $ 74,640,106,510 Direct General Obligation Debt $ (a) As a Percent of Taxable Valuation 0% Direct and Overlapping General Obligation Debt $ 66,192,000 (a) As a Percent of Taxable Valuation 0.089% Direct Non Self Supporting Revenue and Direct General Obligation Debt $ 28,405,000 (a) As a Percent of Taxable Valuation 0.038% Direct & Overlapping General Obligation Debt and Direct Non Self Supporting Revenue Debt $ 94,597,000 (a) As a Percent of Taxable Valuation 0.127% Direct and Overlapping General Obligation, Direct Non Self Supporting Revenue Debt and Certificates of Participation $ 892,460,000 (a) As a Percent of Taxable Valuation 1.196% Series 2015A, 2012A, 2010A, 2007COP, 2006B, 2006A, 2005A, 2004B, 2004A, 1998C.O.P ANTICIPATED CAPITAL OUTLAY MILLAGE LEVY REQUIRED TO COVER MAXIMUM ANNUAL PAYMENTS ON THE OUTSTANDING CERTIFICATES Taxable Assessed Valuation (2015 Tax Year) $ 74,640,106,510 Local Option Millage Levy $ 74,640,107 Total Revenue Anticipated from the Local Option Millage Levy at 96% Collection $ 107,481,753 Maximum Annual Lease Payments on the Outstanding Certificates Millage Levy Required to Provide 1.00x Coverage of Maximum Annual Lease Payments on the Outstanding Certificates 67,102, mills mills

4 School District of Hillsborough County Tax Levies and Taxes Collected Collected to End Collected in of Tax Year Fiscal Year Total Current Tax Percent of Delinquent Total Percent Fiscal Year Tax Levy Collections Levy Collections Collections of Levy 2015 $ 551,270,182 $ 529,052, % $ 1,502,351 $ 530,554, % Historical and Current Millages DISTRICT LEVIES TAX LEVY 2015 General Fund Nonvoted School Tax: State Required Local Effort Local Discretionary Local Supplemental Capital Projects Fund Nonvoted School Tax: Local Capital Improvements Total Nonvoted millage Debt Service Fund Voted School Tax: Debt Service Total District Millage Levy Hillsborough County, Florida Total Assessed Values and Taxable Values Total Net Taxable % Taxable Value Assessed Assessed Assessed For Operating Tax Year Value Value Valuation Millages 2015 $ 101,199,007 $ 93,045,243 $ 74,640,107 74% Series 2015A, 2015B, 2015, 2012A, 2010A, 2007COP, 2007, 2006B, 2006, 2006A, 2005A, 2005, 2004A, 1998COP Any Additional Series of Bonds Issued Under the Resolution Insert Required Information Series 2015B, 2012A, 2010A, 2007COP, 2007, 2006B, 2006, 2006A, 2005A, 2005, 2004A, 2004B, 1998COP Any Material Litigation None.

5 Series 2012A, 2010A, 2007COP, 2007, 2006B, 2006, 2006A, 2005A, 2005, 2004A, 2004B, 1998COP Any Other Financial or Operating Data which the School Board Determines Material to a Holder Insert Required Information Series 1998COP Public Education Outlay Funds FISCAL YEAR AMOUNT ALLOCATION TYPE ,831,847 Maintenance ,672,645 New Construction ,114,703 New Construction ,962,200 New Construction & Maintenance ,576,132 New Construction & Maintenance ,556,677 New Construction & Maintenance ,559,560 New Construction & Maintenance Series 1998 COP Select Financial Information Bonds, Notes and Capital Leases Outstanding STATE BOARD OF EDUCATION BONDS (District Share) Date of Amount Final Maturity Principal Issue Issue Issued Dates Outstanding Series 2006 A 7/11/06 $3,650,000 7/1/26 $2,505,000 Series 2008 A 6/26/08 5,085,000 1/1/28 4,295,000 Series 2009 A 9/14/09 4,620,000 1/1/29 2,000,000 Series 2010 A 10/14/10 4,205,000 1/1/30 3,245,000 Series 2011 A 1/5/12 1,685,000 1/1/23 1,445,000 Series 2014 A 5/22/14 2,486,000 7/1/25 2,332,000 Series 2014 B 12/2/14 12,583,000 7/1/20 12,583,000 Total State Board of Education Bonds $28,405,000 LOCAL REVENUE BONDS Series 2015 Capital Improvement and Refunding 3/23/15 $6,000,000 8/1/32 $6,000,000 Series 2005 Sales Tax Refunding 3/1/05 $127,975,000 10/1/23 $100,820,000 Series 2006 Sales Tax 3/27/06 54,860,000 10/1/26 37,600,000 Series 2007 Sales Tax Refunding 4/2/07 47,515,000 10/1/26 47,515,000 $191,935,000 Total Local Revenue Bonds LOCAL DISTRICT BONDS Total Local District Bonds TOTAL BONDED DEBT $220,340,000 LOCAL SHORT TERM NOTES AND CAPITAL LEASES Total Local Short Term Notes and Capital Leases TOTAL OUTSTANDING BONDS AND NOTES AND LEASES $220,340,000