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Financial Report

September2012

Littleton PublicSchools

Littleton, Colorado

October 26, 2012

FINANCIAL REPORT FOR THE QUARTER ENDED SEPTEMBER 30, 2012 (Unaudited) This report provides an overview of financial operations of district funds for the three months ended September 30, 2012. Dollar amounts reported are from the financial records of the district and are unaudited. The discussion below focuses on variances between balances and percentages of the first three months of the current fiscal year compared to those of the prior fiscal year. Many of the variances are the result of in-year timing differences. GENERAL FUND Total revenue for the first quarter of FY 2012-2013 of approximately $20.1 million represents 15 percent of annual budgeted revenue, which is consistent with the prior year. Property tax revenue was higher by $0.5 million compared to the prior year due to collection on delinquent taxes from previous years. State revenue of $16.4 million is approximately $0.3 million lower than the prior year primarily a result of less state funding received to date for special education, career/tech education, gifted and talented, and the English language proficiency program. Revenue from investment earnings totaling $29,373 is higher than the prior year resulting from higher levels of investments due to the increased overall fund balance. Total expenditures and transfers of $25.5 million represent 18 percent of budget, which is an increase of $0.8 million from prior year’s first quarter spending. This increase is primarily a result of budgeted one-time spending of $0.6 million in technology refresh capital outlay and science curriculum refresh which is described in the Anticipated Funding Needs – Short and Long Term White Paper. The statement of operations appears reasonable based on percentages of revenue received and amounts expended by functional categories given the current economy, revenue recognition differences, and the budgetary plan changes. The One-Time White Paper Spending Plan, presented on page 18 of this report, is a summary of project-to-date expenditures and the budget of the Anticipated Funding Needs - Short and Long Term White Paper. Total budget for this plan totals $11.5 million. Expenditures totaling $1.8 million of the one-time plan has been spent as of September 30, 2012, leaving the remaining budget of $9.7 million. All spending is within the scope and intent of the white paper.

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Total fund balance at the end of the first quarter decreased $5.4 million to $30.0 million was the result of $20.1 million of revenue and $25.5 million of expenditures. Unassigned fund balance totaling $10.0 million at quarter-end, is on target with the districts budgetary plan. Unassigned fund balance will diminish by the end of the calendar year for cash flow needs before increasing in the next year with property tax collections. OTHER FUNDS

In the bond redemption fund, property taxes were received but no debt service expenditures were scheduled for the first quarter. The $5.1 million on deposit with the investor bank, in accordance with the terms of the 2004 forward delivery agreement, will be applied to the December 1, 2012 required debt service payment of the 2004 bonds. The $2.6 million with the trustee bank will be used to pay the December 1, 2012 principle and interest debt service payment for the 2010 and remaining 2002 debt. Property tax for the current fiscal year will mostly be collected during the last two quarters of the fiscal year. The capital projects fund’s expenditures amount to 23 percent of the annual budget, higher than the 21 percent of the budget spent in the prior year. Most of this difference is related to facility projects during the first quarter of the school year, including running track resurfacing at Arapahoe High School, as well as clock/bell system replacement and theater HVAC units replaced at Littleton High School. Funding is provided by a transfer from the general fund representing an allocation of $194 per funded pupil. The extended day care program fund reports a first quarter loss of $266,241, which decreased from the $277,197 loss reported in the first quarter of the prior year by $10,956. This result can be seen in the increase in student care fees totaling $86,151 and increase in total expenses and transfers of $63,438 when compared to prior year. The decrease in net assets of $0.7 million is the result of a capital asset transfer of $0.8 million that occurred at June 30, 2012. The Village building addition from the Housing Urban Development block grant for the infant/toddler program was removed the fund’s net fixed assets due to the repurpose of the program. It is anticipated that the operating results of this fund will improve throughout the remainder of the fiscal year. The food services fund operations include a $192,240 net income compared to a $158,965 net income in the prior year. Revenue from meal charges totaling $606,748 decreased $61,769 when compared to the first quarter of 2011-2012. This is a result of fewer school days in the first quarter when compared to the same period in the prior year. Fewer school days also resulted in a decreased in total expenses toting $115,717 in the first quarter when compared to the first quarter of 2011-2012. Future planned capital outlay expenses for a new freezer/cooler in the warehouse will lower fund balance during the fiscal year in accordance with the budget plan. The risk management insurance reserve fund is on track with budgeted annual insurance premiums. Consistent with the prior year, no workers’ compensation insurance payments have been made this quarter. These premiums will be paid in subsequent quarters. This fund receives the majority of its funding from a transfer from the general fund, amounting to an allocation of $106 per funded pupil.

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The student athletic and activities fund reflects extracurricular activities during the school year. Revenues, totaling $0.7 million, from student fees and gate receipts are comparable to the prior year. Overall, revenue has exceeded expenditures by $542,979 year-to-date compared to $584,099 in the prior year. Most of the excess revenue is related to student fees paid at the start of the school. The two charter schools are reported as component units, separate entities from the district, accounted for as a separate fund. Revenues include the reduction in program funding from the state, the supplemental mill levy override funding from the district, capital construction funding, and revenue from fees and tuition. Percent of annual budgeted expenditures appear comparable to the prior year, with combined fund balance reserves of $3.5 million, inclusive of TABOR reserve requirements for the charter schools totaling $214,100. In conclusion, district financial operations are following the budget and spending plans and are comparable to historical financial trends for the first quarter. Respectfully submitted,

Scott G. Myers Donna Villamor Chief Financial Officer Director of Finance and Risk Management

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LITTLETON PUBLIC SCHOOLSGeneral Fund

Balance Sheet

As of September 30, 2012 2011

Assets Cash 2,876,610$ 1,528,194$ Investments 26,944,747 22,288,837 Taxes receivable 1,676,018 1,872,239 Accounts receivable 169,931 140,158 Inventory 372,796 382,437

Total assets 32,040,102$ 26,211,865$

Liabilities and Fund BalanceLiabilities: Accounts and payroll liabilities payable 327,576$ 89,696$ Deferred taxes 1,676,018 1,872,239 Total liabilities 2,003,594 1,961,935

Fund balances: Nonspendable for: Inventories 372,796 382,437 Restricted for: TABOR 4,050,000 3,270,000 Assigned for: Contracted services 774,184 507,981 Budget carryovers 5,035,553 5,273,214 One-time spending for student needs 9,748,845 11,500,000 Unassigned, unrestricted 10,055,130 3,316,298 Total fund balance 30,036,508 24,249,930 Total liabilities and fund balance 32,040,102$ 26,211,865$

The general fund is used to account for all transactions related to the district's operations except those required to be accounted for in other funds. It is the largest fund of the district.


0.00%

0.25%

0.50%

Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May June

Pooled Cash and InvestmentsInvestments' Earnings Rates

2012‐13 3‐Month T‐Bill FY2013 2011‐12 3‐Month T‐Bill FY2012

($7,000,000)($4,000,000)($1,000,000)$2,000,000$5,000,000$8,000,000

$11,000,000$14,000,000$17,000,000$20,000,000

Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun

Net Change in Cash Flow by Month

FY 2011‐2012 FY 2012‐2013

$0

$10,000,000

$20,000,000

$30,000,000

$40,000,000

$50,000,000

Sept'11

Oct'11

Nov'11

Dec'11

Jan '12 Feb'12

Mar'12

Apr '12 May'12

June'12

July'12

Aug'12

Sept'12

Investments by Category Sept 2011 ‐ Sept 2012

Govt. Pools U.S. Treasuries and Agencies Bank Savings and Certified Deposit

5

6

Adopted Annual Fiscal Percent of Fiscal Percent ofBudget Budget Year-to-date Budget Year-to-date Budget

Revenue Tax revenue 65,723,786$ 65,723,786$ 1,977,790$ 3% 1,367,906$ 2% State revenue 61,771,552 61,771,552 16,423,643 27% 16,770,237 27% Federal grants 867,926 867,926 - 0% - 0% Investment earnings 29,373 29,373 21,755 74% 21,951 47% Transfers from other funds 162,428 162,428 160,562 99% 159,940 92% Other revenue 3,859,863 3,859,863 1,508,725 39% 1,775,396 48% Total revenue 132,414,928 132,414,928 20,092,475 15% 20,095,430 15%

Expenditures and Transfers Regular Instruction: Preschool 1,036,364 1,038,164 161,919 16% 155,182 15% Elementary 31,086,718 32,236,688 5,680,437 18% 5,614,698 17% Middle 16,206,158 17,231,568 2,962,277 17% 2,976,939 18% High 26,032,105 27,151,814 4,897,532 18% 4,836,521 18% Charter Schools 6,601,606 6,601,606 1,624,597 25% 1,615,510 25% Special Instruction: Special Education 15,543,378 16,078,188 2,722,703 17% 2,708,088 17% Vocational Education 860,090 1,104,926 192,719 17% 134,059 15% Governance 1,469,110 1,668,246 324,210 19% 284,142 19% Support Components: Financial Services 3,815,268 3,289,845 303,984 9% 305,766 10% Human Resource Services 2,507,528 2,670,020 443,945 17% 469,035 17% Information Technology Services 4,389,611 4,612,220 1,396,365 30% 1,039,972 27% Operations Services 4,413,170 4,478,996 1,039,700 23% 963,726 21% Transportation Services 4,087,701 4,247,892 698,020 16% 716,690 17% Learning Services 9,907,208 10,970,769 1,569,871 14% 1,426,451 18% Transfers to other funds 5,922,919 5,922,919 1,480,730 25% 1,478,683 25% Total expenditures and transfers 133,878,934 139,303,861 25,499,009 18% 24,725,462 18%

Revenue Under Expenditures and Transfers (1,464,006)$ (6,888,933)$ (5,406,534) (4,630,032)

Fund balance, beginning 35,443,042 28,880,327

Fund balance, ending 30,036,508$ 24,250,295$


The general fund is used to account for all transactions related to the district's operations except those required to be accounted for in other funds. It is the largest fund of the district.

Statement of Revenue, Expenditures (By Function), and Changes in Fund BalanceFor the Three Months Ended September 30, 2012 and 2011

Current Year Prior Year

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Revenue Local Sources: Property taxes 61,083,786$ 61,083,786$ 1,131,079$ 2% 597,433$ 1% Specific ownership taxes 4,640,000 4,640,000 846,711 18% 770,473 18% Interest income 29,373 29,373 21,755 74% 21,951 47% Other local income/Charter revenue 3,859,863 3,859,863 1,508,725 39% 1,775,396 48% Transfers in 162,428 162,428 160,562 99% 159,940 92% State Sources: Equalization 58,110,759 58,110,759 14,544,984 25% 14,625,314 25% Special Education 2,323,400 2,323,400 1,878,659 81% 1,983,083 76% Transportation 892,500 892,500 - 0% - 0% Career/Tech. Education 224,893 224,893 - 0% 75,908 25% Other State revenue 220,000 220,000 - 0% 85,932 38% Federal Sources: Grants 867,926 867,926 - 0% - 0% Total revenue 132,414,928 132,414,928 20,092,475 15% 20,095,430 15%

Expenditures and Transfers Salaries 79,181,744 79,508,288 14,051,024 18% 14,153,967 18% Benefits 23,334,717 23,342,618 4,689,085 20% 4,407,922 19% Purchase services 7,064,109 8,868,633 1,879,653 21% 1,672,882 19% Supplies 10,833,060 13,831,305 1,555,686 11% 1,426,043 14% Capital outlay expenses 1,908,932 2,061,587 364,872 18% 140,133 12% Other expenditures (230,645) (95,587) 37,739 -39% 14,699 -11% Charter Schools 5,864,098 5,864,098 1,440,220 25% 1,431,133 25% Transfers to other funds 5,922,919 5,922,919 1,480,730 25% 1,478,683 25% Total expenditures and transfers 133,878,934 139,303,861 25,499,009 18% 24,725,462 18%Revenue Under Expenditures and Transfers (1,464,006)$ (6,888,933)$ (5,406,534) (4,630,032)




Statement of Revenue, Expenditures (By Object), and Changes in Fund BalanceFor the Three Months Ended September 30, 2012 and 2011


As the general fund is the largest fund within the district and the two largest expenditures for the district are salaries and benefits this breakdown allows the general fund expenditures to be seen from a different prospective.


.

*

* Other Support Services includes Financial Services, Governance, Human Resource Services, Information Technology Services and Operations Services.

0%

20%

40%

60%

80%

100%

July Aug Sept Oct Nov Dec Jan Feb Mar Apr May June

Cumulative MonthlyPercent of Revenues

FY 2012‐2013 FY 2011‐2012

Local 18%

State & Federal 82%

Source of Revenue, Y‐T‐D

0%

20%

40%

60%

80%

100%

July Aug Sept Oct Nov Dec Jan Feb Mar Apr May June

Cumulative MonthlyPercent of Expenditures

FY 2012‐13 FY 2011‐2012

Instruction 71%

Other Support Services *

14%

Transfers 6%

Learning Services

6%

Transportation 3%

Distribution of Expenditures, Y‐T‐D

8

9

2012 2011Assets Cash in Trustee bank 2,605,767$ 2,638,458$ Taxes receivables 280,346 305,492 Cash in bank in accordance 2004 GO Forward Delivery Refunding 5,063,075 4,939,859 Total assets 7,949,188$ 7,883,809$ Liabilities and Fund Balance

Liabilities: Deferred taxes 280,346$ 305,492$

Total liabilities 280,346 305,492

Fund balance: Restricted for debt services 7,668,842$ 7,578,317$

Total fund balance 7,668,842 7,578,317 Total liabilities and fund balance 7,949,188$ 7,883,809$


Revenue Property taxes 10,454,932$ 10,454,932$ 189,760$ 2% 91,908$ 1% Investment earnings 3,000 3,000 1,995 67% 1,335 45% Total revenue 10,457,932 10,457,932 191,755 2% 93,243 1%

Expenditures Debt service: Principal 5,515,000 5,515,000 - 0% - 0% Interest and fiscal charges 3,288,725 3,288,725 500 0% (15) 0% Total expenditures 8,803,725 8,803,725 500 0% (15) 0%

Revenue Over Expenditures Before Other Financing Sources (Uses) 1,654,207 1,654,207 191,255 93,258

Revenues Over (Under) Expenditures and Other Financing Sources (Uses) 1,654,207$ 1,654,207$ 191,255 93,258



As of September 30,

Prior Year

For the Three Months Ended September 30, 2012 and 2011

LITTLETON PUBLIC SCHOOLS Bond Redemption Fund

Statement of Revenue, Expenditures, and Changes in Fund Balance

The bond redemption fund accounts for the annual debt service cost on the district's outstanding general obligation bonds. District voters approved the levy of an annual millage to generate property taxes to service the debt.

Current Year

Balance Sheet

2012 2011 Assets Investments 2,221,791$ 1,528,189$ Total assets 2,221,791$ 1,528,189$

Liabilities and Fund Balance Liabilities: Accounts and contracts payable 92,417$ 35,646$ Total liabilities 92,417 35,646

Fund balance: Committed for: Capital projects 1,569,889 988,520 Assigned for: Contracted services 559,485 504,023 Total fund balance 2,129,374 1,492,543 Total liabilities and fund balance 2,221,791$ 1,528,189$


Revenue Transfer from General Fund 2,698,151$ 2,698,151$ 674,521$ 25% 671,750$ 25% Interest earnings 2,000 2,000 1,415 71% 377 4% Other 8,400 8,400 8,334 99% 9,319 111% Total revenue 2,708,551 2,708,551 684,270 25% 681,446 25%

Expenditures Facilities projects 1,795,000 1,795,000 823,126 46% 604,284 25% Technology and equipment 1,306,000 1,306,000 27,118 2% 38,586 23% Vehicles 495,814 495,814 19,816 4% 42,122 9% Debt service 128,200 128,200 - 0% - 0% Total expenditures 3,725,014 3,725,014 870,060 23% 684,992 21%

Revenue Under Expenditures (1,016,463)$ (1,016,463)$ (185,790) (3,546)



Balance Sheet

LITTLETON PUBLIC SCHOOLSCapital Projects Fund


Prior Year


The capital projects fund accounts for capital projects for facilities, technology equipment, and for vehicle replacement. Funding is provided from a transfer from the general fund.

Current Year

As of September 30,

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11

2012 2011 Assets Cash 800$ 596$ Investments 735,587 599,254 Fixed assets, net of accumulated depreciation 48,524 871,254 Total assets 784,911$ 1,471,104$

Liabilities and Net Assets Liabilities: Accounts payable 1,061$ 744$ Accrued compensation 113,305 94,789 Total liabilities 114,366 95,533

Net assets: Invested in capital assets 48,524 871,254 Unrestricted 622,021 504,317 Total net assets 670,545 1,375,571 Total liabilities and net assets 784,911$ 1,471,104$


Revenue Student care fees 4,168,969$ 4,168,969$ 1,012,349$ 24% 926,198$ 22% Allocated investment income 1,500 1,500 533 36% 141 6% Other income - - 8,555 100% 20,704 100% Total revenue 4,170,469 4,170,469 1,021,437 24% 947,043 23%

Expenditures and Transfers Salaries and benefits 3,579,418 3,579,418 1,009,126 28% 940,277 27% Purchased services 146,841 146,841 56,030 38% 57,810 38% Supplies and materials 219,435 219,349 27,193 12% 31,033 9% Capital outlay expenses 2,962 80,753 780 1% - 0% Other expenditures 59,385 59,471 33,987 57% 36,006 65% Transfers to General Fund 162,428 162,428 160,562 99% 159,114 99% Total expenses and transfers 4,170,469 4,248,260 1,287,678 30% 1,224,240 30%

Change in net assets -$ (77,791)$ (266,241) (277,197)

Net assets, beginning 936,786 1,652,768

Net assets, ending 670,545$ 1,375,571$

As of September 30,

LITTLETON PUBLIC SCHOOLSExtended Day Care Program Fund

Statement of Revenue, Expenditures, and Changes in Net Assets

Prior Year


The extended day care program fund accounts for before and after school day care programs which operate at all elementary schools and at The Village.

Current Year

Balance Sheet

12

2012 2011 Assets Cash 24,626$ 23,354$ Investments 1,298,419 1,401,417 Receivable from state 231,301 272,589 Accounts receivable other 18,008 11,389 Inventory 63,419 58,369 Fixed assets, net of accumulated depreciation 635,825 728,012 Total assets 2,271,598$ 2,495,130$

Liabilities and Net Assets Liabilities: Accounts payable 27,084$ 30,040$ Accrued compensation 32,501 31,645 Total liabilities 59,585 61,685

Net assets: Invested in capital assets 635,825 728,012 Unrestricted 1,576,188 1,705,433 Total net assets 2,212,013 2,433,445 Total liabilities and net assets 2,271,598$ 2,495,130$


Revenue Meal charges 2,796,000$ 2,796,000$ 606,748$ 22% 668,517$ 27% Federal aid 1,700,500 1,700,500 255,181 15% 272,589 19% State aid 49,800 49,800 - 0% - 0% Allocated investment income 3,600 3,600 855 24% 351 10% Other 108,500 108,500 21,874 20% 25,643 27% Total revenue 4,658,400 4,658,400 884,658 19% 967,100 24%

Expenditures Salaries and benefits 1,984,010 1,984,010 276,697 14% 292,130 15% Purchased services 247,341 247,341 58,363 24% 62,933 26% Food and non-food supplies 2,223,549 2,223,549 353,538 16% 448,530 25% Capital outlay expenses 190,000 190,000 - 0% - 0% Other expense 13,500 13,500 3,820 28% 4,542 28% Total expenses 4,658,400 4,658,400 692,418 15% 808,135 20%

Change in net assets -$ -$ 192,240 158,965 Net assets, beginning 2,019,773 2,274,480 Net assets, ending 2,212,013$ 2,433,445$

Balance Sheet

LITTLETON PUBLIC SCHOOLSFood Services Fund

The food services fund accounts for the operation of breakfast, lunch and summer feeding programs of the district.

Prior Year

Statement of Revenue, Expenditures, and Changes in Net AssetsFor the Three Months Ended September 30, 2012 and 2011

Current Year

As of September 30,

13

2012 2011 Assets Investments 1,364,879$ 1,563,278$ Insurance pool deposit 108,000 110,000 Total assets 1,472,879$ 1,673,278$

Liabilities and Fund Balance Liabilities: Accounts and claims payable 6,136$ 170$ Total liabilities 6,136 170

Fund balance: Nonspendable for: Deposits 108,000 110,000 Committed 1,358,743 1,563,108 Total fund balance 1,466,743 1,673,108 Total liabilities and fund balance 1,472,879$ 1,673,278$


Revenue Transfer from General fund 1,480,819$ 1,480,819$ 370,222$ 25% 381,040$ 25% Allocated investment earnings 2,000 2,000 785 39% 341 6% Insurance reimbursements and other 73,533 73,533 18,518 25% 17,185 25% Total revenue 1,556,352 1,556,352 389,525 25% 398,566 25%

Expenditures and Transfers Losses and loss control 799,400 799,400 132,039 17% 116,076 16% Property insurance 250,000 250,000 243,653 97% 235,091 94% Liability insurance 305,600 305,600 168,073 55% 171,326 57% Worker's compensation insurance 650,000 650,000 - 0% - 0% Total expenses and transfers 2,005,000 2,005,000 543,765 27% 522,493 27%

Revenue Under Expenditures (448,648)$ (448,648)$ (154,240) (123,927)



Current Year

As of September 30,

Balance Sheet

Prior Year


LITTLETON PUBLIC SCHOOLSRisk Management Insurance Reserve Fund


The risk financing insurance reserve fund accounts for insurance premiums on worker's compensation, property and liability insurance coverages, and for loss control activity.

2012 2011 Assets Investments 2,322,229$ 2,332,315$ Total assets 2,322,229$ 2,332,315$

Liabilities and Fund Balance Liabilities: Accounts payable 10,494$ 3,751$ Total liabilities 10,494 3,751

Fund balance: Restricted for: Pupil activities 574,828 490,355 Committed for: Student needs 571,960 716,052 Assigned for: Contracted services 180,475 235,189 Budget carryovers 984,472 886,968 Total fund balance 2,311,735 2,328,564 Total liabilities and fund balance 2,322,229$ 2,332,315$


Revenue Fees and gate receipts 2,201,000$ 2,201,000$ 715,561$ 33% 765,987$ 39% Allocated investment earnings 1,930 1,930 1,274 66% 485 7% Transfer from General Fund 1,743,949 1,743,949 435,987 25% 425,893 25% Beverage contract sponsorship fee 17,100 17,100 - 0% - 0% Total revenue 3,963,979 3,963,979 1,152,822 29% 1,192,365 32%

Expenditures and Transfers Elementary schools 145,402 262,994 8,748 3% 13,071 7% Middle schools 494,575 702,067 46,507 7% 36,184 7% High schools 3,307,472 4,054,989 503,219 12% 495,698 15% Other expenditures 124,901 125,402 51,369 41% 63,313 125% Total expenditures and transfers 4,072,350 5,145,452 609,843 12% 608,751 15%

Revenue Over (Under) Expenditures (108,371)$ (1,181,473)$ 542,979 583,614



As of September 30,



LITTLETON PUBLIC SCHOOLSStudent Athletic and Activities Fund


The student athletic and activities fund accounts for athletics, intramurals, and activities sanctioned by the Colorado High School Activities Association (CHSAA).

Balance Sheet

14

15

2012 2011 Assets Cash 2,500$ 1,953$ Investments 1,899,191 1,756,476 Total assets 1,901,691$ 1,758,429$

Liabilities and Fund Balance Liabilities: Accounts payable 2,821$ 510$ Total liabilities 2,821 510

Fund balances: Restricted for: TABOR 101,300 99,200 Assigned for: Contracted services 10 6,089 Unassigned, unrestricted 1,797,560 1,652,630 Total fund balance 1,898,870 1,757,919 Total liabilities and fund balance 1,901,691$ 1,758,429$


Revenue Program funding, from the district 2,737,042$ 2,737,042$ 684,261$ 25% 676,267$ 25% Supplemental funding from the district 361,440 361,440 90,360 25% 90,360 25% Capital construction funding (state) 32,365 32,365 9,617 30% 8,571 24% Fees and other charges 205,500 205,500 58,080 28% 40,013 26% Investment earnings 1,852 1,852 1,164 63% 405 2% Other revenue 20,343 20,343 55,914 275% 79,055 419% Total revenue 3,358,542 3,358,542 899,396 27% 894,671 27%

Expenditures Instruction 2,240,232 2,240,232 434,462 19% 418,097 19% Support services 1,210,739 1,210,739 289,245 24% 300,491 26% Total expenditures 3,450,971 3,450,971 723,707 21% 718,588 21%

Revenue Over (Under) Expenditures (92,429)$ (92,429)$ 175,689 176,083





LITTLETON PUBLIC SCHOOLSLittleton Academy Charter School


The financial position and operations of the Littleton Academy Charter School are accounted for in a separate fund of the district. Littleton Academy is reported as a component unit in the annual, audited financial statements of the district.

As of September 30,

Balance Sheet

16

2012 2011 Assets Cash 1,500$ 1,500$ Investments 1,595,971 1,450,498 Rental deposit 7,612 7,612 Total assets 1,605,083$ 1,459,610$

Liabilities and Fund Balance Liabilities: Accounts payable 23,558$ 3,895$ Total liabilities 23,558 3,895 Fund balances:

Nonspendable for: Deposits 7,612 7,612 Restricted for: TABOR 112,800 109,350 Assigned for: Contracted services 1,636 20,904 Unassigned, unrestricted 1,459,477 1,317,849 Total fund balance 1,581,525 1,455,715 Total liabilities and fund balance 1,605,083$ 1,459,610$


Revenue Program funding, from the district 3,127,056$ 3,127,056$ 755,960$ 24% 754,866$ 25% Supplemental funding from the district 376,068 376,068 94,017 25% 94,017 25% Capital construction funding (state) 20,000 20,000 11,054 55% 10,365 0% Fees and other charges 162,000 162,000 58,568 36% 104,306 63% Investment earnings - - 977 100% 335 6% Total revenue 3,685,124 3,685,124 920,576 25% 963,889 27%

Expenditures Instruction 2,568,420 2,573,555 476,094 18% 528,177 21% Support services 1,118,205 1,120,069 273,661 24% 247,231 22% Total expenditures 3,686,625 3,693,624 749,755 20% 775,408 22%

Revenue Over (Under) Expenditures (1,501)$ (8,500)$ 170,821 188,481



As of September 30,

Balance Sheet

LITTLETON PUBLIC SCHOOLSLittleton Preparatory Charter School

Prior Year

Statement of Revenue, Expenditures, and Changes in Fund BalanceFor the Three Months Ended September 30, 2012 and 2011

The financial position and operations of the Littleton Preparatory Charter School are accounted for in a separate fund of the district. Littleton Preparatory is reported as a component unit in the annual, audited financial statements of the district.

Current Year

AnnualMaturity Effective

Date Carrying Value Yield Term (Days)Colotrust - Plus+ October 1, 2012 18,263,144$ 0.26% 1CSAFE October 1, 2012 18,262,624 0.19% 1CSIP PFM Funds - Prime Colorado Invest October 1, 2012 1,002,600 0.27% 11st Bank (Certificates of Deposit) July 5, 2016 768,700 1.98% 1355Wells Fargo: Littleton Dental Savings October 1, 2012 179,368 0.05% 1

38,476,436$

Pooled Investments Weighted Average Maturity 28

US Bank: CSAFE Money Market Fund October 1, 2012 2,605,767 0.18% 1

2,605,767$

Investments Percent By FundGeneral Fund 26,944,747$ 70.0%Capital Projects Fund 2,221,791 5.8%Extended Day Care Program Fund 735,587 1.9%Food Services Fund 1,298,419 3.4%Risk Management Insurance Reserve Fund 1,364,879 3.5%Student Athletic and Activities Fund 2,322,229 6.0%Charter Schools 3,495,162 9.1%Designated Purpose Grant Fund (182,425) -0.5%Student Clubs 276,047 0.7%

Total Pooled Investments By Funds 38,476,436$ 100.0%

Bond Redemption Fund 2,605,767 100.0%Total Bond Investments By Fund 2,605,767$

Bond Investments By Fund

As of September 30, 2012

LITTLETON PUBLIC SCHOOLSInvestment Summary

Pooled Investments By Funds

Pooled Investments By Investment

Bond Redemption Fund By Investment

Pooled Investments By Investment

Pooled Investments By Investment Type

Colotrust -Plus+47%

CSAFE47%

CSIP PFM Funds - Prime

Colorado Invest

3%

1st Bank (Certificates of

Deposit)2%

Wells Fargo: Littleton

Dental Savings 1%

Commercial Governmental Money Market

3%

Bank Deposits 2%

Government Investment Pool

95%

17

LITTLETON PUBLIC SCHOOLS $11.5 Million One-Time White Paper Spending Plan

Estimated Expenditures as of September 30, 2012 Compared to Multi-Year Project Budget

18

New

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FY 2012 Spending

369,074 117,042 63,536 - 0 - 21,446 - 0 - - 0 - - 0 - 98,600 159,304 282,102 - 0 - $1,111,104

FY 2013 Spending

14,461 2,046 13,286 - 0 - 336,696 - 0 - - 0 - - 0 - 112,548 83,800 61,556 15,658 $640,051

FY 2013 Remaining

Budget 435,539 11,162 19,136 150,000 1,247,625 1,000,000 - 0 - - 0 - 356,852 187,798 232,144 84,342 $3,724,598

Remaining Project Budget

296,926 - 0 - 14,042 250,000 394,233 - 0 - 1,342,000 2,000,000 576,000 433,098 556,198 102,000 $5,964,497

$0$200,000$400,000$600,000$800,000

$1,000,000$1,200,000$1,400,000$1,600,000$1,800,000$2,000,000$2,200,000

$2,000,000

$400,000

$202,000

$1,132,000

$2,000,000

$1,144,000

$864,000

$110,000

$1,000,000

$1,342,000

$1,116,000

$130,250

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