Robla School District

Transcription

1 Robla School District Sacramento County, California General Obligation Bonds 2003 Refunding Bonds Continuing Disclosure Annual Report 2011 Prepared by: Christie Avenue, Suite 270 Emeryville, CA (510)

2 Table of Contents The enclosed information is being provided in compliance with continuing disclosure requirements for the following issuances: General Obligation Bonds, Election of Series 1992 A, Series 1993 B, Series 2000 C, Series 2003 D, Series 2007 E 2003 General Obligation Refunding Bonds Contents Page Number 1. Average Daily Attendance 2 2. Pension Plan Contributions 2 3. General Fund 3 4. Assessed Valuation 4 5. Outstanding Debt 4 6. Top 10 Taxpayers 4 7. Reporting of Significant Events 5 1

3 1. Average Daily Attendance Average Daily Fiscal Year Enrollment Attendance Base Revenue Limit Per ADA ,992 1, $5, Source: Robla School District 2. Pension Plan Contributions State Teachers' Retirement System California Public Employees' Retirement System FY $829,739 $243,280 FY $817,340 $288,081 FY $789,690 $321,174 The District provides postemployment health care benefits to allemployees who retire from the District on or after attaining age 55 with at least 15 years of service. These postemployment health care benefits are payable until the retiree turns 65. Expenditures for postemployment benefits are recognized on a pay-as-you-go basis, as premiums are paid. During FY , expenditures of $76,504 were recognized for retirees health care benefits. The unfunded actuarial accrued liability(uaal) for the District is $2,003,017. Source: Robla School District 2

4 3. General Fund FY FY Budget Audit Revenues: Revenue Limit Sources $ 9,760, Federal Revenue $ 1,956, Other State Revenue $ 2,704, Other Local Revenue $ 1,299, Total Revenues $ 15,721, FY Budget Expenditures: Current: Certificated Salaries $ 8,641, Classified Salaries $ 2,428, Employee Benefits $ 2,801, Books and Supplies $ 509, Services and Other Operating Expenditures $ 1,349, Other Outgo $ 72, Capital Outlay $ 97, Debt Service: Interest $ - Principal $ - Total Expenditures $ 15,900, Excess (Deficiency) of Revenues Over (Under) Expenditures $ (171,994.00) Other Financing Sources (Uses): Transfers In $ 573, Transfers Out $ - Total Other Financing Soucres (Uses) $ 573, Net Change in Fund Balance $ 401, Fund Balance July 1 $ 2,821, Source: Robla School District 3

5 4. Assessed Valuation Assessed Valuation Local Secured Utility Unsecured Total $1,681,443,411 $581,393 $20,553,868 $1,702,578, Outstanding Debt Source: California Municipal Statistics, Inc. Beginning Balance July 1, 2009 Increases Decreases Ending Balance June 30, 2010 Amounts Due Within One Year Certificates of participation $ 3,465,000 $ - $ 100,000 $ 3,365,000 $ 105,000 Capital lease $ 1,678,959 $ - $ 44,776 $ 1,634,183 $ 62,137 Bonds payable $ 12,999,438 $ - $ - $ 12,999,438 $ - OPEB obligation $ 69,932 $ 188,061 $ 82,721 $ 175,272 $ - TOTALS $ 18,213,329 $ 188,061 $ 227,497 $ 18,173,893 $ 167, Top Taxpayers Source: Acton-Agua Dulce USD Property Owner Primary Land Use Assessed Valuation Total* 1. Thousand Trails Inc. Recreational/RV Pak $13,658, % 2. Metta Homes Inc. Undeveloped 13,240, Acton Estates LLC Residential Development 12,879, Watt Enterprises Ltd. Office Building 9,830, Brandenburg Agua Dulce LLC Undeveloped 5,121, Land Sea Air Leasing Corp. Industrial 4,870, Little Broad Beach Partners LP Apartments 4,468, Acton Industrial Properties Inc. Industrial 4,450, Calmat Co. Industrial 2,972, Robert and Constance Spears Residential Properties 2,934, Highpointe Acton LLC Undeveloped 2,610, Western Commercial Bank Undeveloped 2,502, McDonalds Plaza Commercial 2,407, Laminar RR Acquisition LLC Undeveloped 2,190, Safeway Inc. Commercial Land 2,147, Bee Canyon LLC Residential Properties 2,007, Agua Dulce Vineyards LLC Agricultural 1,930, Roy B. and Charlene E. Padgett Commercial 1,889, Saehan Bank Commercial 1,816, Jerome H. Snyder Undeveloped 1,808, $95,737, % * Local Secured Assessed Valuation: $1,681,443,411 4 Source: California Municipal Statistics, Inc.

6 7. Reporting of Significant Events (i) (ii) (iii) (iv) (v) (vi) (vii) Principal And Interest Payment Delinquencies; Non-payment Related Defaults; Unscheduled Draws On Debt Service Reserves Reflecting Financial Difficulties; Unscheduled Draws On Credit Enhancements Reflecting Financial Difficulties; Substitution Of Credit Or Liquidity Providers, Or Their Failure To Perform; Adverse Tax Opinions Or Events Affecting The Tax-exempt Status Of The Security; Modifications To Rights Of Security Holders; (viii) Bond Calls (Other Than Mandatory Scheduled Redemptions, Not Otherwise Contingent Upon The Occurrence Of An Event, Including But Not Limited To, Sinking Fund Payments); (ix) (x) Defeasances; Release, Substitution Or Sale Of Property Securing Repayment Of The Securities; Or Rating Changes. 5